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HomeMy WebLinkAbout1988-02-02; City Council; 9283; 1986-87 comprehensive annual financial report.. z 0 5 s 8 a z 3 LB#- IITG.** )EPT. FIN CI" . OF CARLSBAD - AGENT- BILL TITLE DEPT. HD&L 1986-87 COMPREHENSIVE ANNUAL FINANCIAL REPORT CITY A RECOMMENDED ACTION: Accept the 1986-87 Comprehensive 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 sumpnary of the City's financial position on June 30 of each year, including cash balances, revenues, expenditures, fund balances, total assets, liabilities and a wealth of other information. During 1986-87, the City staff of about 384 full-time employees provided a full range of City services to the 55,000 residents and many businesses in Carlsbad. Spending on all City programs totaled $54.9 million in 1986-87, up $14.7 over 1985-86. the construction of major capital improvements and to increased public safety and general government services. This increase can be traced to the City's commitment to Total City revenues also rose during 1986-87 by $9.5 million or 18.6%, an increase of about 15%. Development building and increases in interfund loans. This change reflects the purchase of the Community The Finance Director's introductory letter provides an overviw of the entire report. FISCAL IMPACT: The report addresses the present condition of the City, as well as a brief assessment of the City's economic outlook for 1987-88. no fiscal impact. EXBIBITS : Comprehensive Annual Financial Report for the Fiscal Year ending June 30, 1987, for the City of Carlsbad, California. (on file in the City Clerk's off ice. ) The report itself has COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDING JUNE 30,1987 I I I City of Carlsbad Ca I i io r n i a CITY CLERK'S FILE COMPREHENSIVE ANNUAL FINANCIAL REPORT for the fiscal year ending JUNE30, 1987 CITY OF CARLSBAD, CALIFORNIA MAYOR Claude "Buddy" Lewis CITY COUNCIL Ann J. Kulchin Eric Larson John J. Mamaux MarkV. Pettine CITY MANAGER Raymond R. Patchett FINANCE DIRECTOR James F. Elliot PREPARED BY THE FINANCE DEPARTMENT I 1 I I 1 I I I I I I I I I I I I I I CITY OF CARLSBAD Comprehensive Annual Financial Repon Year Ended June 30,1987 TABLE 0 F CONTENTS INTRODUC TORY SFCT ION: Table of Contents Letter of Transmittal Location Map Certificate of Achievement for Excellence in Financial Reporting Government Finance Officers Association Certificate of Award for Outstanding Financial Reporting California Society of Municipal Finance Officers List of City Officials Organization Chart 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 i i 1 15 16 17 18 19 21 22 24 26 28 CITY OF CARLSBAD TABLE OF-CONTE NTS. Cont hued Combined Statement of Changes in Financial Position - All Proprietary Fund Types Notes to Combined Financial Statements 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) ii 29 30 58 59 62 66 70 80 90 91 92 96 1 I I I I 8 I 1 I I I I I I I I I I l CITY OF CARLSBAD TABLF OF CO NTENTS. Cont hued Capital Project 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) 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 102 106 110 116 124 126 127 130 132 134 137 CITY OF CARLSBAD TABLE OF CO NTENTS. Co nt inued STAT ISTlCAl INFOR MATI ON ; (Not covered by Auditors’ opinion.) General Expenditures by Function Last Ten Fiscal Years General Revenues 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 Schedule of Assessed Valuation, Last Ten Fiscal Years Construction and Business Activity, Last Ten Fiscal Years Property Tax Levies and Collections, Last Eight Fiscal Years Miscellaneous Statistical Information Principal Employers, 1986-87 Principal Taxpayers, 1986-87 iv 140 142 144 145 146 147 148 150 152 154 155 156 157 158 1200 ELM AVENUE I CARLSBAD, CA 92008-1989 TELEPHONE (619) 434-2867 Mit~ of CLnri~ baa FlNA NCE DEPARTMENT November 10,1987 Honorable Mayor, City Council, and City Manager CIlY OF CARLSBAD Carlsbad, California We are pleased to present the 1986-87 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 Building Authorities of the City of Carlsbad and the Carlsbad Redevelopment Agency, as well as the opinioh of our independent certified public accountants, Deloitte Haskins & Sells. Backa round 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 CounciI/Manager form of government. Carlsbad is a general law city incorporated in 1952. The City covers about 40 square miles and has a population of about 55,000. Industries in the area include a major regional shopping center, 13 auto dealers, 21 hotels offering 1,656 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. es Provided bv the CUy 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 maintenance 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 businesses. The City operates a redevelopment agency that encompasses 0.4 square miles of the downtown area, as well as a housing authority that provides 330 low and moderate income families with housing assistance. 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 $225,000 for Support of the Arts, art programs, and the purchase of works of art. 1 1 I I 1 1 Sianiflcant Events and AccomDl Is hments During 1986-87 the City experienced many significant events or accomplishments that may not be evident from a review of the financial statements. Some of the more important events are summarized below. Growth Control - During 1986-87 the City Council’s Growth Management Program was ratified by the voters of Carlsbad. This innovative program has become the basis for long range planning within the City. Under this program developers will be allowed to build only if infrastructure improvements required to serve the development are financed and constructed as a part of the development. Standards have been established in twelve areas such as circulation, libraries, fire protection, parks, drainage, water, sewers, and open space. An outgrowth of this program is a long range capital improvement program which covers the current year through buildout of the City. The City’s Growth Management Program recently received statewide recognition by receiving an award for excellence from the League of California Cities. Construction of Capital Projects - The City continued to stress construction of capital projects during 1986- 87. Total spending on construction increased by almost 90%over last year’s record level. The City completed several major projects begun during 1985-86 and continued to add to the growing list of infrastructure improvements aimed at improving the quality of life in Carlsbad. Some of the more important projects include: Stagecoach Park -This site located in the southeast corner of the City provides 28 acres of ball fields, picnic areas and natural areas, as well as an 11,000 square foot gymnasium and 6,000 square foot community facility. Stagecoach Park was dedicated in late 1986-87. Poinsettia Fire Station -The City added a new fire station to three existing stations to improve service to the southwestern quadrant of Carlsbad. This station, which opened in early 1986-87, has one engine company staffed by three fire fighters. . College Boulevard - In May of 1986 the City sold $9.5 million of 191 5 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. Completion of this major circulation link is scheduled for January 1988. Calavera Hills Park - The City neared completion of Calavera Hills park, Phase I, a 10-acre park providing lighted ball fields, tennis courts, tot lot, and picnic area to the residents of northeast Carlsbad. This park should be ready for use in early 1987-88. Phase II of Calavera Hills park will provide an additional 8 acres of ball fields, a gymnasium and community building in 1988-89. Carlsbad Boulevard Seawall - The construction of the 3,200 foot Carlsbad Boulevard Seawall provided much needed protection to the bluffs along Carlsbad Boulevard, as well as beach access to the heavily used beach area. This $3.6 million project, funded through a grant from the state of California, is a major feat of engineering and environmental protection. Hosp Grove - In an advisory ballot measure the voters of Carlsbad asked the City Council to provide for the acquisition of 52 acres of eucalyptus trees and open space in order to save the area from development. The City Council complied with the request by agreeing to provide $6.5 million in funding for the project through several funding mechanisms. Financial Statement Fo ma 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 financial state- 2 ments for all funds as well as the notes to the financial statements. 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 value, and demographic information. Supplemental Data - Accountlna System a nd Budaetarv - Cont rol 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 modi- fied 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 afterthe 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 accrual method of accounting. Revenues and expenses are recorded when earned and incurred, respectively. Internal controls exist within the accounting system to ensure safety of assets from misappropria- tion, 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 cost/ benefit 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 ap- propriations expire at year end unless specifically carried into the new fiscal year by Council action. The Carlsbad Municipal Code requires that the finance Director annually prepare a budget for the City Manager showing estimated revenues and expenditures. 3 Total C Itv . OD . eratiotlg During 1986-87 the City staff of about 380 full-time employees provided a full range of City services to the 55,000 residents and many businesses in Carlsbad. Spending on all City programs totaled $55 million in 1986- 87, up $14.3 million over 1985-86. This increase can be traced to the City’s commitment to the construction of major capital improvements and attention to infrastructure maintenance needs. Revenues for 1986-87 totaled $52.5 million, an increase of about $7.0 million over 1985-86. This increase is due to a combination of factors including growth of the City’s assessed valuation, the implementation of major developer fees, and the receipt of state grants for construction of Capital Projects. Although the general economic climate of San Diego County remains good the implementation of the City’s Growth Management Program began to have an effect during 1986-87. This is reflected in the reduced rate of development activity recorded during the year and the slowing of fees for services tied directly to development. Carlsbad is entering 1987-88 in a fiscally sound position ready to deal with the lower pace of growth. City services will be maintained although a shift in emphasis will be necessary in some areas. The following report summarizes the revenues and expenditures (or expenses) forthe City of Carlsbad for the fiscal year ended June 30,1987. Pevenue from All Fund TVD~ (In thousands) 1986-87 over 1986-87 1985-86 Junderll985-88 % Chanae General Fund Special Revenue Funds Debt Service Funds Capital Project Funds Enterprise Funds (1) Internal Service Funds (1) TOTAL REVENUES General Fund Special Revenue Funds Debt Service Funds Capital Project Funds Enterprise Funds(1) Internal Service Funds( 1) TOTAL EXPENDITURES $26,441 $24,309 7,306 4,490 234 245 11,646 8,034 3,991 6,380 2.897 2.064 $52,515 $45,522 $2,132 2,816 (1 1) 3,612 (2,389) s $6,993 8.8% 62.7 (4.5) (45.0) 37.4 449 1 5.4% 7 - FxDenditures (0 r FxDensesl All Fund Tvw (In thousands) 1986-87 over 1986-87 1985-86 under) 1985-88 %Chanae $23,350 $21,245 $2,105 9.9% 7,340 5,358 1,982 37.0 18,279 9,116 9,163 100.5 2,796 1,706 1,090 63.9 475 488 (1 3) (2.7) 2.769 1.706 1.063 §2la $55,009 $39,619 $1 5,390 38.8% - - (1) Includes operating and non-operating expenses and revenues 4 1 I I I 1 1 I 1 I I I I I I I I I I I The General Governmental function includes the operations of the General, Special Revenue, Debt Service and Capital Project funds. During 1986-87 revenue from all Governmental funds totaled $45.6 million, up $8.5 million over 1985-86; expenditures totaled $49.4 million, up $13.2 million over last year. A brief look at these numbers on a fund-by-fund basis is shown below. 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 1986-87 totaled $26.4 million, up $2.1 million or about 8.8% over the 1985-86 revenue of $24.3 million. This increase is due primarily to the following factors: Property Tax Revenue - $7.3 million Property Tax increased $1.2 million or 19.3% over 1985-86 due to the large volume of homes and businesses added to the tax roles during the year. Although the rate of development slowed during the year, the value of new construction and the rate of resale remained high. According to the County of San Diego, more than $670 million of real estate changed hands during 1986-87. Sales Tax Revenue - $6.5 million Sales tax revenue increased $265,000 or 4.3% during 1986-87. This relatively low rate of increase reflects a softening in auto and apparel sales within the City. A combination of factors including competition from other regional shopping areas may have contributed to this reduced rate of growth. Vehicle License Fee Revenue - $1.6 million Vehicle license fee revenue increased by $337,000 or 26.2% during 1986-87. The vehicle license fee is set and collected by the State Department of Motor Vehicles. Although DMV cannot readily provide statistics for the Carlsbad area, they indicate that the growth in fee revenue is due to an increase in the number of vehicles and a lowering of the average age of vehicles owned by Carlsbad re side nt s. Transient Occupancy Tax Revenue - $1.7 million Transient occupancy tax (hotel room tax) revenues rose by more than $572,000 or 49.4% over 1985-86 due to the reopening of the new and expanded La Costa Hotel and Spa and increases in revenues for several other hotels. Construction Permit Revenue - $1.2 million Construction permit revenue declined by $1 67,000 or 12% in 1986-87 reflecting the slowing in development activity. The City's Growth Management Program began to affect the rate of develop- ment in mid 1986-87 and was in full effect by late in the year. The following table summarizes General Fund revenues by major category for 1986-87 and 1985-86: Cateaorv Taxes Licenses & Permits Charges for Services Fines & Forfeitures Interest Income 01 her TOTAL General Fund Revenues 1986-87 (in million dollars) Percent of Percent of Increase 1986-87 1985-88 Lnecre- $17.0 64.4% $14.9 64.0% $2.1 4.3 16.3 4.0 17.1 0.3 2.6 9.9 2.9 12.4 (0.3) 0.4 1.5 0.3 1.3 0.1 1.2 4.5 1 .o 4.3 0.2 0.9 0.2 0.9 m 100.0% $3.1 - - $26.4 loo.Ooh $23.3 General Fund expenditures totaled $23.3 million for 1986-87, up $2.1 million or 9.9% over 1985-86. This increase is due primarily to the following: General Government - $5.6 million General Government spending increased by $1.5 million or 37% in 1986-87. Emphasis on planning and development issues related to creating the Growth Management Program, building mainte- nance effort, and administrative' service functions contributed to this increase. Public Safety - $9.4 million Spending on public safety programs totaled $9.4 million up $1.5 million or 19.5% over 1985-86. This increase reflects efforts to maintain full staffing and the opening of a new fire station in south- west Carlsbad. Public Works - $4.1 million Public Works program spending declined by $1.6 million or about 28% in 1986-87. When adjusted to a budgetary basis, this decline falls to only $0.6 million or 10%. This reflects the effect of a $1.3 million street overlay program which was under contract at year end. Real declines can be found in the Engineering Department where vacancy rates contributed to the spending slump. Culture and Recreation - $4.2 million Culture and Recreation spending rose $0.7 million or 20% over 1985-86 due to the opening of a new park in southern Carlsbad and increases in general operating costs for the Library and Parks Department. Total General Fund expenditures are summarized in the table below: General Fund Expenditures - 1986-87 (in million dollars) Cateaorv General Government Public Safety Public Works Culture & Recreation TOTAL Percent of Percent of Increase 1986-87 latal 1985-86 IQld $5.6 24.0% $4.1 19.5% $1.5 9.4 40.4 7.9 37.2 1.5 4.1 17.6 5.7 26.8 (1 -6) 42 m 3.5 16.5 93 1~% $2.1 $23.3 1oo.o% $21.2 - - - - - 6 Special Revenue Funds The City's Special Revenue Funds, which account for the collection and use of special or restricted revenues, received $7.3 million in total revenue in1986-87. This is an increase of about $2.8 million or 62% over the 1985-86 revenue of $4.5 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, and the construc- tion of a 3,200 foot seawall along Carlsbad Boulevard. The following table shows the major components of Special Revenue Fund sources: Special Revenue Funds Revenues - 1986-87 (in million dollars) Cateaorv Taxes Intergovernmental Revenue Charges for Services Interest Income TOTAL Percent of Percent of 1986-87-1985-86 $1.3 17.8% $1.1 5.6 76.7 2.9 0.1 1.4 0.1 93 4.1 99 1iO% $4.5 $7.3 - - - - Increase WLDecrease) 24.4% $0.2 64.4 2.7 2.2 9.0 aU.1 1oo.o% $2.8 - - Expenditures from the Special Revenue Funds support a wide variety of programs and projects. Some of 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,and the Carlsbad beach bluff protection (seawall) project. Welfare programs such as the HUD-sponsored Carlsbad Housing Authority rental assistance program. Spending in Special Revenue Funds totaled $7.3 million in 1986-87, an increase of $1.9 million or about 35% over 1985-86. As the table below shows, major increases were seen in the capital projects cate- gory. This reflects the City's emphasis on capital projects during this year. Special Revenue Funds Expenditures - 1986-87 (in million dollars) Cateaorv Public Works Culture & Recreation Capital Projects Welfare TOTAL I Percent of Percent of Increase 1986-87 w 1985-88 w /Decrem $0.5 6.8% $0.7 13.0% $(0.2) 0.4 5.5 0.2 3.7 0.2 5.1 69.9 3.5 64.8 1.6 1.3 rn 19 23 100.0% $1.9 100.0% - $5.4 - $7.3 - - - - - - - - 7 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 facili- ties (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 fees, park in- lieu (park development) fees, drainage fees, traffic impact fees, and general funds earmarked for capital purposes 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 $1 1.6 million, up $3.6 million or 45% over the 1985-86 total of $8.0 million. This increase is due to a combination of factors, the most prominent of which is the increase in revenue from fees charged to developers building within Carlsbad. During 1985-86 and 1986-87, 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 $1.4 million in interest revenue this year. Capital Project Funds Revenues - 1986-87 (in million dollars) Cateaorv Taxes Charges for Services Interest TOTAL Percent of Percent of (Decrease) 1986-87u1985-86wlncrease $ 0.7 6.0% $0.3 3.8% $0.4 9.5 81.9 6.5 81.2 3.0 1.4 121 A2 m Ab2 $1 1.6 1oo.o% $8.0 1~/0 - - - - Spending on capital projects totaled $18.3 million, an increase of $9.2 million or 101% over 1985-86. This level of capital project construction represents the third year of the City’s capital program where spending has increased by more than 100% per year. Projects planned for 1987-88 could carry this trend into a fourth year with more than $40 million of capital projects budgeted in the new year. The City Council continues to set a high priority on the construction of quality infrastructure improvements. Some of the key projects completed during this year include: Public Safety Center - A 55,000 square foot headquarters building for the City’s fire and police operations was opened during 1986-87. Carlsbad Boulevard Seawall -This 3,200 foot seawall protects Carlsbad Blvd and the bluffs along the road from further erosion. The project was jointly funded by the City and the State of California. Fire Station #4 - Located near Interstate-5 and Poinsettia Lane, this fire station provides protection to the southwest quadrant of Carlsbad. Agua Hedionda Bridge - This project involved the construction of a four- lane bridge over the inlet to Agua Hedionda Lagoon along Carlsbad Blvd. Stagecoach Park - The southeast quadrant gained a 28-acre park, including an 11,000 square foot community center and gymnasium during 1986-87. 8 I I I I I I I 1 I I I I I 1 I I I I I I 1 I I 8 I I I I I I I I I I I I I Cateaonr Hosp Grove -The City purchased 52 acres of land in the northwest portion of Carlsbad to preserve the natural condition of the property. Capital Project Funds Expenditures - 1986-87 (in million dollars) Percent of Percent of Increase 1986-87IQtal1985-86IPtia[lDecreasel Public Safety Center Street Projects Major Park Projects Redevelopment Area Open Space Other Projects TOTAL $3.2 17.4% $4.2 46.2% $(1.0) 1.9 10.5 1.1 12.1 0.8 3.7 20.3 1.6 17.6 2.1 1.5 8.1 1.6 17.6 (0.1) 6.5 35.5 6.5 1.5 8.2 u 6.5 0.9 loo.O% - - 1IO% $9.1 - - $18.3 The City's Debt Service Funds record the payment of interest and principal on the current portion of outstanding debt (other than special assessments or revenue bonds). At June 30, 1987, the total debt payable from non-enterprise sources was $3,045,000, comprised of Library, Sewer, Parking Authority and Building Authority Bonds. Revenues for 1986-87 are only slightly below revenues for 1985-86. Debt service requirements are relatively level, so tax rates on General Obligation Bonds are set each year to yield only the amount of revenue necessary 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 - 1986-87 (In thousand dollars) Cateaorv Percent of Percent of Increase 1986-87 1985-86 TOtd InecreW Taxes $1 36 58.4% $128 52.2% $8 Interest 97 41.6 llz 47.8 124) TOTAL $233 100.0% - - $245 1l/o - $0 - Expenditures on debt service rose only slightly in 1986-87 due to normal changes in the debt service payment schedules. 9 Cateaorv Principal Interest Other TOTAL Debt Service Funds Expenditures - 1986-87 (In thousand dollars) Percent of Percent of (Decrease) 1986-87 W 1985-86 Increase $265 55.8% $265 54.3% $0 206 43.4 21 8 44.7 (1 2) 4 0.8 5 1.0 (11 1~/0 $0 $475 loO.o% $488 - - - - - There were no bonds or other forms of direct City long-term debt issued during 1986-87. During 1986-87 the City's property tax rate to support general obligation debt totaled .00462% of total assessed value, or about $4.62 on a home valued at $1 00,000. Enternrise ODerat 1- 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. Within these funds the City uses many of the ac- counting practices applicable to any commercial 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 $4.0 million, down $2.4 million or about 37% from 1985-86. This decline is due to the change in accounting treatment of sewer connection fees. In prior years, the City had recorded these capital fees ($2.5 million in 1985-86) as revenue; however, under the guidelines established by the American lnstitute of Certified Public Accountants in Account ina for St& and I ocd Government Units, these changes should be recorded as contributed capital to the Sewer Enterprise Fund. When the comparison is adjusted for this change in accounting policy, there is no significant change in enterprise revenue between this fiscal year and last. Enterprise Funds Total Operating and Non-Operating Revenues - 1986-87 (in million dollars) Cateaorv Water Utility Sewer TOTAL Percent of Percent of Increase 1986-87 Ipla! lDecreasel $1.5 37.5% $1.5 23.4% $ - a B 4.9 766 124) wl 1000% s(2.41 - - - - 100.0% m Expenses in the Enterprise Funds totaled $2.8 million, which is the same as in 1985-86. During this same period the number of accounts provided with water and/or sewer service grew from 13,330 to 14,830, an increase of 1,500 accounts or 11.3%. 10 1 I 1 I I 1 I I I I I 1 1 i I I 1 I I 1 1 I I II 1 1 I I I 1 I I I I 1 I I Cateaorv Enterprise Funds Total Operating and Non-Operating Expenses - 1986-87 (in million dollars) Percent of Percent of Increase 1986-87lPtal1985-86m 1 Decrease1 Water Utility $1 .o 35.7% $1.4 50.0% $(0.4) Sewer 18 14 rn 0.4 100.0% $0.0 - - - - - $2.8 lo0.0 - $2.8 - - TOTAL Water Revenue bonds outstanding at June 30, 1987, totaled $632,000. There were no revenue bonds issued payable from enterprise funds during 1986-87. Internal Sew Ice Funds Internal Service Funds are used to account for services provided by a City department for other City departments. As with an Enterprise Fund, the source of revenue is user fees charged to the departments receiving the service. SELF-INSURANCE PROGRAM-WORKERS’ COMPENSATION & GENERAL LIABILITY The City has been self-insured for Workers’ Compensation since September, 1978. The activity for this program is recorded in the Workers’ Compensation Self- Insurance Internal Service Fund. Workers’ compensation claims for 1986-87 amounted to $189,000 compared to $238,000 in 1985-86, a decrease of about $49,000 or 21%. The reserve for estimated claims payable at year end was $215,000. Unre- served retained earnings totaled $854,000 at June 30, 1987. The General Liability Self-Insurance Fund was established near the end of 1980- 81. Claims expense for 1986-87 totaled $794,000, up $332,000 or 72% from the 1985-86 total of $462,000. The reserve for estimated claims payable at year end was $1,161,000. Unreserved retained earnings totaled $131,000 at June 30,1987. CENTRAL GARAGE The City operates a central vehicle maintenance program servicing both the rolling stock and small machinery. Operating costs for this program were $930,000 for 1986-87, up $196,000 or 27% from the 1985-86 total of $734,000. Trust and Aaencv 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 compensation accounts. The City held a total of $9.6 million in Trust and Agency Funds as of June 30, 1987, compared to $13.3 million at the end of 1985-86. This decrease of $3.7 million or 28% is primarily due to the expenditure of the College Boulevard Assessment District Bond proceeds on street construction. At year end, approxi- mately one half of the district’s $9.5 million had been expended on construction. The City’s Deferred Compensation Fund grew from $672,000 to $914,000 by year end, an increase of $242,000 or 36%. 11 The City Treasurer is charged with the responsibility of safeguarding the City’s assets, receiving all payments due the City and investing all inactive funds. During this year the City Treasurer earned about $4.2 million in interest on investments in all fund types from instruments earning from 4.0% to 9.5%, compared to earnings of $4.0 million during 1985-86. Funds are invested in various types of notes and certificates. At June 30, 1987, the Treasurer had 100°/o of all available funds invested. The City’s total portfolio at year end was $57.5 million. Below is a summary of cash and investments outstanding as of June 30, 1987: Interest Rates (in millionQ Amount Invested Cash Certificates of Deposit Federal Agency Notes Treasury Coupons Corporate Notes Miscellaneous Investments TOTAL 0 - 5.71% 6.10 - 9.50 7.26 - 8.83 7.49 - 8.22 7.45 - 8.25 5.00 - 9.50 $0.2 24.8 12.0 3.4 2.5 13.3 $57.5 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. Debt Administration The ratio of net bonded debt to assessed valuation and the amount of bonded debt per capita are useful indicators of the City’s debt position to management, citizens and investors. These data for the City for the year ended June 30, 1987 are as follows: Ratio of debt to Debt Net Assessed Value Per CaDiU Amount Net general bonded debt $670,000 0.02% $1 2.1 2 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. I I I 1 R I I I I I I I I 1 I 1 I I 1 1 I I I I I I I I 1 I 1 I I 1 1 I 1 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 returned to the State or citizens through a process of refunds, rebates, or other means that may be defined at that time. The Gann limit for the City of Carlsbad has increased steadily since 1979 and still provides the City with a comfortable operating margin. The Gann limit for the City of Carlsbad for 1986-87 was $27.4 million, with appropriations of “proceeds of taxes” of only $20.8 million. This allows the City a margin of $6.6 million. GANN LIMIT LEGAL SPENDING LIMIT vs. APPRORIATIONS SPENDING APPROPRIATION OF PROCEEDS LIMIT OF TAXES eaeeee MILLION DOLLARS FISCAL YEAR ESTABLISHED UNDER ARTICLE XllIB OF THE STATE OF CALIFORNIA Carlsbad is entering 1987-88 with plans to expand seEicesto all areas of the City during the next five years. The City will build new parks, libraries, fire stations, streets and other facilities to improve the level of service offered to the Carlsbad resident. This aggressive capital construction program will place a burden on the operating budget that must be managed through careful scheduling to match demands with resources. Uncontrolled, demand would easily out-pace the City’s ability to pay for services. The promise of expanded retail sales facilities in the auto and general merchandise areas and the possi- bility of the construction of a major hotel in southern Carlsbad can provide the much needed tax base to finance the growing service needs. Further, the continued industrial development in the Palomar Airport Industrial Park area will add to Carlsbads economic health. The City’s Growth Management Program holds the key to the timing of many of the developments that will support the City through fees and taxes. This program is designed to guarantee that no new develop- ment occurs without careful planning of infrastructure and services. This process will cause some devel- opment to be delayed or revised in scope during the planning process, which in turn may delay the city’s ability to collect additional revenue. Carlsbad’s general outlook is for a heatthy economy with tight general fund budgets for the next two to three years as the Growth Management Program begins to allow some key developments to occur. The years following that appear to offer expanding opportunities for the City Council to enhance the sewice to the community. Acknowledaements 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, deserve full credit for the preparation and contents of this report. We appreciate Jeff Fisher and Karen Trent of Deloitte Haskins & Sells for the professional way in which the audit of this financial report was conducted. It has been a pleasure to work with the Deloitte Haskins & Sells staff throughout this period. The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Carlsbad for its comprehen- sive annual financial report for the fiscal year ended June 30, 1986. In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized compre- hensive annual financial report, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe our current report continues to conform to the Certificate of Achievement Program requirements, and we are submitting it to GFOA to determine its eligibility for another certificate. mmt 14 I 1 I I I I I 1 I I I 1 1 1 1 1 1 I I I 1 I I I I I I 1 I I I I I I 1 I I Camp Pondlrlon 4 Rancho Swim Fo 15 Certificate of Achievement for Excellence in Financial Reporting Presented to City of Carlsbad, California For its Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 1986 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to governmental units and public employee retirement systems whose comprehensive annual financial reports (CAFR's) are judged to substantially conform to program standards. 16 I I I I 1 I I I I I I I I I I I I I I \ 0 17 CITY OF CARLSBAD ELECTED CITY OFFICIALS Claude A. Lewis, Mayor Ann J. Kulchin, Mayor Pro Tern John J. Mamaux, Council Member Mark V. Pettine, Council Member Eric Larson, Council Member Aletha L. Rautenkranz, City Clerk William C. Esterline, City Treasurer ADMINISTRATION AND DEPARTMENT HEADS Raymond R. Patchett, City Manager Frank Mannen, Assistant City Manager Martin Orenyak, Community Development Director Vincent F. Biondo, Jr., City Attorney Ralph Anderson, Utilities/ David Bradstreet, Parks and James. F. Elliott, Finance Ruth Fletcher, Purchasing Lloyd Hubbs, City Engineer Maintenance Michael Holzmiller, Planning Clifford Lange, Library Recreation Jerome N. Pieti, Personnel James Thompson, Fire Chief Robert Vales, Acting Police Chief CHAIRPERSONS, COMMISSIONS AND BOARDS Mary Marcus Camille Mitkevich Robert Borden Girard Anear Patrick O'Day Richard F. Martin Barbara Donovan Linwood J. Van Jerry Rombotis John Mccoy Joe Bear Brian Robertson Robert Sheppard 18 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 I I I I I I I 1 I I I I 1 I I I I I I I I- Q N H 7 Q c3 E 0 J 19 I I I I I I I I I '. 1 I I I I I I I I I I I 1 I I I I I I I I I FINANCIAL SECTION Deloitt e Has kins+Sells I- I I I I I I I I I I I I I I I I I Suite 1900 7OI"W"Street - - San Diego, California 92101-8198 ITT Telex: 4995722 (619) 232-6500 Honorable City Council City of Carlsbad, California: We have examined the general purpose financial statements of the City of Carlsbad, California, as of and for the year ended June 30,1987, as listed in the 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 general purpose financial statements referred to above present fairly the financial position of the City of Carlsbad, California, at June 30, 1987, 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 was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining, individual fund, and individual account group financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Carlsbad, California. Such information has been subjected to the auditing procedures applied in the examination of the general purpose financial statements and, in our opinion, is fairly stated in all material respects when considered in relation to the general purpose financial statements taken as a whole. -._ October 9,1987 21 -____. CITY OF CARLSBAD COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS JUNE 30. 1987 WITH COMPARATIVE FIGURES FOR JUNE 30, 1986 Goverrmental Fund Types Special Revenue S2,652,3 1 1 11,663 63,164 3,225 29,293 298,446 509,394 108,803 Debt Service $1,540,491 Capital Pro iects $25,005,329 ASSETS Cash and investments Receivables: Loan Taxes Accounts Accrued interest Due from other funds Due from other goverrments 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 general long-term debt TOTAL ASSETS - Notes 3 13 12 6 4.5 General $2,096,962 1,005,471 77,936 150,759 416,194 3,915 2,827,702 24,216 79,500 2,935 22,190 25,850 181,954 197,925 6,760,620 I I I 1 1 I $6,682,655 53,676,299 $1,565,616 $32,171,678 LIABILITIES Accounts payable Accrued wages payable Due to other funds Advances from other funds Advances from other goverrments Deposits payable Deferred conpensation 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 t 510,553 1,304,586 f 86,849 22,905 291,562 t f 207,924 16,166 197,925 11,465,748 13 12 102,064 8 64,969 12,531 37,164 11 discount of $3,702 in 1987 (%,936 in 1986) 11 Deferred revenue Obligations under capital lease 9 Short term note payable 5 Other payables TOTAL LIABILITIES 36,000 6,459,384 1.880.108 503.380 48,531 18,384,311 FUND EQUITY Contributed capital Investment in general fixed assets Fund balances - reserved Fund balances - unreserved Retained earnings - reserved Retained earnings - unreserved TOTAL FUND EQUITY TOTAL LIABILITIES AND FUND EQUITY 1,290,901 1,882,018 16 15 4,792,585 15 9,962 15 15 4,802,547 $6,682,655 22 1,517,085 11,136,271 2,651,096 3,172.919 $3,676,299 1.517.085 $1,565,616 13.787.367 $32,171,678 1 i I I I I I I 1 I I I 1 1 I I 1 I 1 Proprietary Fund Types Enterprise t 8,593,014 1,389,513 96,198 87,454 1,368,032 164,813 4,052,206 37,348 16,724,104 10,783,718 I nt erna 1 Service U, 032,953 485 38,113 1,147,883 %3,296,400 f 894,588 40,591 87,454 38,794 17,283 150,000 478,298 2,070,778 $5.219.434 t 85,642 27,646 124,632 1,376,477 3.777.786 31,397,315 2,725,174 5.396.125 39.518.614 543.296.400 1.614.397 2,216,839 1.388.198 3.605.037 55.219.434 F iduc i ary Fund Type Agency $9,544,434 56,450 $9,600,884 5 289,073 8,398,015 913,796 9.600.884 Account Groups General General Long- Fixed Assets Term Debt f 38,820,008 $38,820,008 f 38,820,008 s 1,517,085 1.749.812 $3,266,897 t 3,045,000 221,897 3.266.897 59.600,884 38.820.008 538,820,008 23 $3,266,897 1987 f 53,465,494 11,663 1,071,570 1,497,009 701,573 302,361 11,465,748 189,029 188,303 4,052,206 37,348 16,724,104 50,751,609 1,517,085 1.749.81 2 5144,299,871 574,957 f 2,074,629 1 ,411 ,894 701,573 11,465 , 748 102,064 8,436,809 913,796 1 ,376,477 131,947 150,000 3,045,000 478,298 2,106,778 221,897 6,459,384 39,076.294 33,614,154 38,820,008 18,736,842 4,543,076 2,725,174 6,784,323 105,223.577 1986 t 57,220,364 11,663 658,865 1,329,751 486,136 174 , 395 66,156 3,467,445 163,961 173,373 5 52,931 16,440,927 38,467,264 1,548,708 4,590 2,076.73 1 f122.843.260 f 3,520,159 1,156,020 174,395 3,467,445 97,882 12,269,665 671,709 910,597 35 , 903 140,000 3,310,000 627,064 2 , 308,777 275,783 39,656 29.005.055 24,447,410 27,136,537 14,616,857 13 , 092 , 21 0 1,357,142 13.188.049 93.838.205 5144,299,871 $122,843,260 I 1 1 1 I I i I I 1 I I I I I I I I I CITY OF CARLSBAD COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES FOR THE YEAR ENDED JUNE 30, 1987 - WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30, 198 6 Special Revenue General REVENUES Taxes Licenses and permits Intergovernmental revenues Charges for services Fines and forfeits Interest income Miscellaneous revenues $1,322,700 - 5,603 , 685 105 , 723 253 , 799 19,918 - $17,025,712 4,348,903 5,184 2,606,776 366,597 1,149,488 938,098 TOTAL REVENUES 26,440,758 7,305,825 EXPENDITURES Current: General government Public safety Public works Welfare Culture and recreation Capital outlay Debt service: Principal retirement Interest and fiscal charges Miscellaneous 5,639,077 9 , 452 , 556 4 , 067,420 4 , 190,635 - - - - 533 , 969 1 , 321 , 504 340,066 5,144 , 108 TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 23,349,688 7,339,647 (33,822) 3,091,070 OTHER FINANCING SOURCES (USES) Operating transfers in Operating transfers (out) 104,701 (100,145) - (853,054) TOTAL OTHER FINANCING SOURCES (USES) (853,054) 4,556 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) 2 , 238,016 2 , 294 , 256 270,275 - (29,266) 3 , 472,460 - (270,275) FUND BALANCES AT END OF YEAR $ 4,802,547 $3,172,919 See accompanying notes to financial statements. 24 1 1 1 I u I I I 1 I 1 I 1 I I I 1 I I Capital Projects Debt Service Totals (Memorandum Onlv) 1987 - 1986 $ 136,289 $ 664,103 - - 9,537 , 890 1,444,088 - $19,148,804 $16 , 364 , 319 4,348,903 3,996,864 5 , 608 , 869 2 , 924 , 892 12,250,389 9,406,829 366,597 288 , 055 2,944,741 2,857 , 221 958,016 1,240,056 233,655 11,646,081 45,626,319 37,078,236 4,414 - - 5,645,325 4 , 124 , 793 9,452 , 556 7 , 851,268 4,601,389 6 , 412 , 310 1,321,504 1,052 , 394 4,530,701 3 , 710 , 505 23,032,108 12,333,087 1,834 - - - 17,888,000 265,000 205,864 - 265,000 265,000 594 , 782 454 , 607 - 2,888 - 388 , 918 49,443,365 36,206,852 475.278 (241.623) 18.278.752 (6,632,671) (3,817,046) 871.384 210,000 - 1,111,395 (1,085,000) 1,426,096 3,901,611 (2,038,199) (4,186,611) (612,103) f 285,000) 210,000 26,395 (31,623) 1,548 , 708 - (6,606,276) 20,393,643 - (4 , 429,149) 586,384 270,275 54 , 442 (270,275) (114,442) 27,709,067 27,182 , 683 $23,279,918 $27,709,067 $1,517,085 $13,787,367 25 CITY OF CARLSBAD COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (BUDGETARY BASIS) ALL GOVERNMENTAL FUND TYPES FOR THE YEAR ENDED JUNE 30, 1987 REVENUES Taxes Licenses and permits Intergovernmental revenues Charges for services Fines and forfeits Interest income Miscellaneous revenues TOTAL REVENUES EXPENDITURES Current: General goverrment Public safety Public works Welfare Culture and recreation Capital outlay Debt service: . Principal retirement Interest and fiscal charges Miscellaneous TOT.4L EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FlNANClNG SOURCES (USES) Operating transfers in Operating transfers (out) General Fund Actual on Variance Budgetary Favorable Budget Basis (Unf avorabl el $16,562,000 f17,025,712 f ,463,712 3,578,000 4,348,903 770,903 5,184 5,184 2,716,280 2,606, i76 ( 109, 504 388,381 366,597 (21,784) 700,000 1,149,488 449,488 928.265 938.098 9.833 24.872.926 26.440.758 1.567.832 6,565,168 5,888,674 676,494 9,677,916 9,549,531 . 128,385 5,480,037 5,425,758 54,279 4,493,226 4,346,892 146,334 26.216.347 25.210.855 1.005.492 1.343.421) 1.229.903 2.573.324 1,186,000 - (1,186,000) (853.054) (853,054) T0T.iL OTHER FINANCING SOURCES (USES) 332,946 (853.054) {1.186.000) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES ( 1,010,4E) 376.849 1,387,324 FUND BALANCES AT BEGINNING OF YEAR 2,294,256 2,294,256 Residual equity transfers in 270,275 270,273 Residual equity transfers (out) FUND BALANCES AT END OF YEAR f 1.554.056 f 2,941.380 $1,387,324 See accompanying notes to financial statements. ~ Swcial Revenue Funds Budqet f 1,117,790 1,693,506 69,722 133,268 11.600 3.025,886 767,486 2,555,463 470,565 6,714,726 Actual on Budgetary Basis f 1,322,700 5,603,685 105 , 723 253,799 19,918 7.305.825 535,669 435,268 5,333,544 1,364,111 Variance Favorable (Unfavorable) S 204,910 3,910,179 36,001 120,531 8.318 4.279.939 231,817 1,191,352 35,297 1,381,182 10,508,240 (7,482.354) 104,701 (986.145) (881.444) (8,363,798) 3,472,460 (270,275) f(5.161.613) 7.668,592 (362,767) 104,701 (100.145) 4.556 (358.21 1 ) 3,472,460 (270.275) f 2.843.974 2.839.648 7,119.587 886.000 886.000 8,005, 587 f 8,005,587 26 Debt Service Funds Capital Project Funds Actual on Budgetary Basis Variance Favorable Actual on Budgetary Basis {Unfavorable1 Variance Favorable JUnf avorablel Budset Budset I 1 I I I I 1 S 141,000 97,564 S 136,289 97,366 S 664,103 S 184,103 (2,500,000) 9,537,890 4,461,390 1,383,356 1,444,088 S(4,711) (198) (4,909) S 480,000 2,500,000 5,076,500 60,732 238.564 233.655 11.646.081 3,528,849 8.117.232 4,414 4,414 1,834 35,777,059 1,834 20,894,817 14,882,242 265,000 207,106 265,000 205,864 1,242 1.242 (3.667) 388,918 (388,918) 476.520 (237.956) 475,278 (241.623) 21.285.569 14.493.324 35.778.893 (27.661.661 ) (9.639.488) 18.022.173 1 I I 210,000 210,000 1,111,395 1,111,395 (1.385.000) (1.085.000) 300,000 210,000 210.000 (273,605 1 26,395 300.000 (27,956) (31,623) (3,667) (27,935,266) (9,613,093) 18,322,173 20,393,643 20,393,643 1,548,708 1,548,708 $1,520,752 fl,5 17,085 S(3.667) f( 7,541,623) $1 0,780,550 $18,322,173 27 I I 1 CITY OF CARLSBAD COMBINED STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES FOR THE YEAR ENDED JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30. 1986 Totals (Memorandun Oolvl- 1987 1986 Internal Enterwise Service OPERATING REVENUES Metered water sales S 1,007,568 L Seuer service charges 1 ,747,677 Other charges for services 260,436 828,251 Reimbursed expenditures 782 1,779,887 Miscellaneous revenue (expense) 5 * 458 I I I 1 1 1 I I I I 1 I I I I I - $1,007,568 $ 930,107 1,088,687 1,080,313 1,747,677 1,607,828 I, 780,669 I, 091,279 5.458 (42) TOTAL OPERATING REVENUES 5.630.059 4.709.485 3,021,921 2.608.138 OPERATING EXPENSES Personnel services Office expenses Repairs and maintenance Professional services 1 nsurance Purchased water Bad debt expense Depreciation and amortization Fuel Supplies and parts Claims expense 923,740 97,299 390,162 1,044,224 14,827 4,191 21,956 261,843 I, 1 18, 727 77,198 392,907 838,325 11,850 (io, 878) 4,090 405,137 185,697 85,608 971.790 427,573 94,967 9,269 89,720 189,578 182,196 115,087 1.647.356 1,351,313 187,019 485,129 14,827 1,053,493 4,191 21,956 451,421 182,1% 115,087 1 ,647.356 TOTAL OPERATING EXPENSES 5,513,988 4.080.451 OPERATING INCCME (LOSS) 116,071 629,034 263,679 (147.608) NON-OPERATING REVENUES Interest income Gain on sale of property 1,236,925 1,164,184 21,306 26.926 969,361 267,564 21 ,306 TOTAL NOW-OPERATING REVENUES 969,361 288,870 1.191.110 NOW-OPERATING EXPENSES Interest expense and fiscal Loss on disposal of property agent fees 37,299 42,531 12,960 360,391 37,299 12.960 TOTAL NOW-OPERATING EXPENSES 50.259 402,922 37.299 12.960 NON-OPERATING INCOME (LOSS) INCOME BEFORE OPERATING TRANSFERS 1.207.972 788,188 932.062 275.910 1.324.043 1.471.222 Operating transfers in 612.103 285 I ooo - 612.103 NET INCWE Retained earnings et beginning of year 1,936.146 1.702.222 1.195.741 740.405 13,897,398 667,793 14,545,191 10,143,706 (6.971.840) 2.699.263 Prior period adjustment (Note 2) (6,971,840) of year, as adjusted 6.925.558 647.793 Retained earnings at begirning Retained earnings at end of year (Note 15) s 8,121,299 si.3aa.198 28 7.573.35 1 12,842,969 $9,509,497 S14.545.191 I I I I I I I I I I 1 I I I I 1 I I I CITY OF CARLSBAD COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITIOW ALL PROPRIETARY FUND TYPES FOR THE YEAR ENDED JUNE 30, 1987 UITH COHPARATIM FIGURES FOR THE YEAR ENDED JUNE 30. 1986 I nt erne L Enterwise Service SOURCES OF UORKING CAPITAL Operat ions: Net income f 1,195,741 f 740,405 Items not requiring working capital: Depreciation and amortization 261,843 189,578 Loss (gain) on sale Uorking capital provided by of property (8.346) operations 1,457,584 921,637 38,508 Contributions from other funds 1.885.865 25.862 Proceeds frm sale of property TOTAL SOURCES OF WORKING CAPITAL 3.343.449 986.007 USES OF UORKING CAPITAL Acquisition of property, plant and equipnent 535,003 546,220 Decrease in long-term revenue bonds payable 150,000 Reduction of deferred revenue 237,999 Net increase in other restricted assets and related liabilities 3,526.015 TOTAL USES OF WORKING CAPITAL 4.449.017 546.220 NET INCREASE (DECREASE) IN WORKING CAPITAL f(1.105.568) f 439.787 ELEMENTS OF NET INCREASE (DECREASE) IN UNRESTRICTED WORKING CAPITAL Cash and investments f(2,972,000) fl,059,303 Accounts receivable 98,332 237 Accrued interest receivable 5,519 13,880 Due from other funds 16,019 (2,165) Inventory 14,921 Prepaid expenses Advances to other funds 1,368,032 Accounts payable 383,071 (30,261) Accrued uages payable (5,810) (10,848) Due to other funds (15,679) (124,479) Deposits payable 2,027 Estimated claims payable - (465.880) NET INCREASE (DECREASE) IN WORKING CAPITAL S(1.105.568) f 439,787 See acccmpanying notes to financial statements. 29 Totals (Memorandun Only) 1987 1986 f 1,936,146 $1,702,222 451,421 405 , 137 (8.346) 333.465 2,379,221 2,440,824 1.911.727 2.604.325 38,508 4.329.456 5.045.149 1 , 081 ,223 796,079 150,000 140,000 237,999 146,001 3.526.015 39.734 4.995.237 1.121.814 f (665.781) $3,923.335 f(1,912,697) 98,569 19,399 13,854 14,921 1,368,032 352,810 (16,658) (140,158) 2,027 (465,880) f5,166,284 81,054 114,912 8,419 24,675 (5,320) (1,065,351) (10,591 ) (8,911 1 19,806 (401,642) f (665.781) 53,923,335 CITY OF CARLSBAD Notes to Combined Flnanclal Statements June 30,1987 (1) Summarv of s ianificant Accountina Policies The accounting policies of the City of Carlsbad, California, conform to generally accepted account- ing principles applicable to governmental units. The following is a summary of the more significant policies: 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 responsibility includes, but is not limited to, the authority to govern, manage, approve budgets, and assume fiscal ac- countability. 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. 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 of the facility. (b) Bas is of Presentatipn 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 operations of each fund or account group are accounted for by providing a separate set of self-balancing accounts that comprise its assets, liabilities, reserves, fund balancehetained earnings, revenues, and 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: GOVFR NM F NT AL 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. 30 I I I I I D I I I I I I I I I I I I I I I I I 1 I I I 1 1 1 I I I I I 1 1 1 CITY OF CARLSBAD Notes to Combined Flnanclal Statements, Contlnued ectal Revenue Fund2 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. t Service Fun& DeM Service Funds are used to account for the accumulation of resources for, and payment of, general long-term debt principal, interest and related costs. mitat Pmcl Fu nds Capital Project Funds are used to account for financial resources to be used for the acquisi- tion or construction of major capital facilities (other than those financed by proprietary funds). PROPRIFTARY FUNDS: Fntemrise Fun& Enterprise Funds 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. al Service Fun& 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. FIDUCIARY FUND: paencv Funds The Agency Funds are used to account for assets held by the City in an agency capacity for individuals and private businesses. ACCOUNTGROUPS: Gene ral Fixed Assets Accou n t Grow 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 31 CITY OF CARLSBAD Notes to Combined Flnanclal Statements, Continued 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. General10 na-Term . Debt Account G royD 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, except for those obligations accounted for in Proprietary Funds. (c) Measure ment Fw a nd Bas is of Accountirlg 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 pro- vides an indication of available, spendable resources. Operating statements for governmen- tal fund types report increases (revenues) and decreases (expenditures) in available spend- able resources. The Proprietary (enterprise and internal sewice) fund types are accounted for on an ”income determination” or “cost of services” measurement focus. Accordingly, all assets and liabilities are included on the balance sheet, and the reported fund equity provides an indication of the economic net worth of the fund. Operating statements for proprietary fund types report increases (revenues) and decreases (expenses) in total economic net worth. Fiduciary fund types are custodial in nature (assets equal liabilities) and do not involve meas- urement of results of operations. Governmental and fiduciary fund types use the modified accrual basis of accounting. Reve- nues are recognized when susceptible to accrual, Le., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. In applying the susceptible to accrual concept to intergov- ernmental revenues, the legal and contractual requirements of the individual programs are used as guidance. 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 afler 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; and (2) prepaid expenses, which are reported as current period expenditures rather than allocated. 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. 32 I I I 1 I I I 1 I 1 I I I I I I I I I I I I I I I I I 1 I I I 1 1 I I I I I CITY OF CARLSBAD Notes to Comblned Financlal Statements, Contlnued The City follows these procedures in establishing the budgetary data reflected in the financial state me nt s : 1. During May or June, the City Manager submits to the City Council a proposed operat- ing 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. 2. Public hearings are conducted at City Council meetings to obtain citizens’ comments during June. 3. Prior to July 1, the budget is enacted legally through passage of an appropriation resolution. 4. The City Manager is authorized to make transfers of appropriated amounts within a fund and function for up to $10,000. .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 department 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 incur- rence of commitment to purchase. 7. Expenditures may not exceed budgeted appropriations at the department level. Unen- cumbered appropriations lapse at year end. 8. For purposes of a budgetary presentation, actual generally accepted accounting principal (GAAP) expenditures have been adjusted to include encumbrances outstand- ing at year end. The following schedule is a reconciliation of the budgetary and GAAP fund balances: Special Debt Capital General Revenue Service Project Fund Funds Funds Funds Fund Balance- Budgetary Basis $2,941,380 $2,843,974 $1,517,085 $1 0,780,550 Encumbrances Outstanding at Year End 1.861. 162 328.945 -3.006.817 Fund Balance- GAAP Basis $4,802,547 $3,172,919 $1,517,085 $13,787,367 33 CITY OF CARLSBAD Notes to Combined Financial Statements, Continued mvestments Investments are stated at cost, which approximates market, except for deferred compensa- tion plans, which are shown in an agency fund at market. Inventories within the various fund types consist of materials and supplies that are valued at the lower of average cost or market and are recorded as expenses when consumed. Vacation pay is payable to employees at the time used or upon termination of employment. This liability is shown in the governmental and proprietary funds as the amount accrued during the year which would normally be liquidated with expendable available financial re sources. Vacation days are cumulative up to a maximum of 29 days in any one year for miscellaneous employees (as defined) a’nd 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 leave days to one month of service time. Self-Insurance The City is self-insured for general liability and workers’ compensation’clairns. 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. Memorandum-Onlv Totals Columns in the accompanying financial statements captioned “Totals (Memorandum Only)” represent a summation of the combined financial statement line items of the fund types and account groups and are presented only for analytical purposes. Amounts shown in the “Totals (Memorandum Only)” columns are not comparable to a consolidation and do not represent the total resources available or total revenues and expenditures/expenses of the City. Fncu mbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary control in the governmental 34 I I I I I I 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 I I I I 1 CITY OF CARLSBAD Notes to Combined Financial Statements, Continued ~ -- -- funds. Encumbrances outstanding at year end do not constitute expenditures or liabilities, but are reported as reservations of fund balance for subsequent-year expenditures. Unbilled service receivables in proprietary funds are reflected in accounts receivable at year end with a corresponding increase in revenues. (1) Jnvestmentin 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 $1,034,088 and are classified within professional services expense. 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 10-1 00 years 40-70 years 10-50 years 50 years In the General Fixed Assets Account Group, construction-in-progress is transferred to build- ings or improvements upon approval by the City Council, which approximates the completion date. 0-0 De ferred Re venue The deferred revenue balance of the Enterprise Fund relates to deposits or in-kind prepay- ments for services to be rendered (e.g., sewer installation, etc.). The deferred revenue balance of the Building Authority relates to a prepayment of lease revenue from the General Fund. (0) Coma3 rative Datflota Is 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 current year financial statement presentations. 35 CITY OF CARLSBAD Notes to Combined Financial Statements, Continued In prior years, the City overstated operating revenue and understated contributed capital by $6,971,840 due to treatment of sewer connection fees as operating revenue rather than contributed capital. This overstatement was corrected during the current year by an adjustment to retained earnings at the beginning of the year. The City maintains a cash and investment pool that is available for use by all funds. At June 30, 1987, the carrying value of the City’s deposits was $24,990,870. Of this amount, $1,520,531 was covered by federal depository insurance. Of the remaining $23,470,339, $23,400,000 was collateralized according to State statutes that require depositories having public funds on deposit to maintain a pool of securities with the agent of the depository having a market value of at least 10 percent in excess of the total amount of all public funds on deposit. These securities are not held by an agent of the City in the City’s name and therefore are considered to be uncollateralized and uninsured per Government Accounting Standards Board Statement 3. The re- maining deposits of $70,339 are uninsured. lnvestmenb State statutes authorize the City to invest in obligations of the U.S. Treasury, its agencies and instrumentalities, commercial paper rated A-1 by Standard and Poor’s Corporation or P-1 by Moody’s Commercial Paper record, banker’s acceptance, repurchase and reverse repurchase agreements, certificates of deposit issued by national and state licensed or chartered banks or federal or state savings and loan associations, and the state treasurer’s investment pool. The City’s investments categorized by type, carrying value, and market value are shown below. Of the total investments, $500,000 are held in the name of the City. The remainder is held in the name of the broker/dealer. The amount of insured investments is $2,500,000. The remainder are uninsured. A summary of investments as of June 30, 1987, follows: . Carrvina Amounl Market Val% Federal Agency Notes Treasury Coupons Corporate Notes Local Agency Investment Funds Miscellaneous Investments TOTAL 36 $12,217,417 $1 1,925,214 4,524,227 4,524,525 2,485,176 2,484,550 1 1,332,000 1 1,332,000 1,968,010 1,968,010 $32,526,830 $32,234,299 I I I I I I I I I I I I I I I I I 1 I I 1 I 1 I 1 I I I I I I I I I I 1 CITY OF CARLSBAD Notes to Combined Flnanclal Statements, Continued The decline in market value of securities is deemed to be temporary and the City intends and has the ability to hold these investments until maturity. The City had investments in repurchase agreements at various times during the year. The City had no such investments at June 30, 1987. Income from repurchase agreements is shown as interest income. Summary of Changes in General Fixed Assets Balance Balance Julv 1.1986 Additions Deletions - Land $9,977,929 $ 6,459,384 $ - $16,437,313 Buildings 5,762,750 10,353,876 - 16,116,626 Other improvements 1,051,138 354 1,051,492 Furniture and equipment 1,901,042 1,832,207 1 68,089 3,565,160 Construction in progress (CIP) S .443.678 -291.254 7.085.5 15 1.649.417 TOTAL $27,136,537 $1 8,937,075 $7,253,604 $38,820,008 Changes in General Fixed Assets (GFA) by Function and Activlty GFA 6!30/86 FURNITURE & EQUIPMENT General Government $476,106 Public Safety 564,045 Public Works 327,205 Culture & Recreation 533.686 TOTAL Furniture and Equipment OTHER IMPROVEMENTS BUILDINGS LAND CIP TOTAL 1,901,042 1,051,138 5,762,750 9,977,929 8.443.m $27,136,537 Additions $293,390 1,262,089 109,996 166.732 1,832,207 354 10,353,876 6,459,384 291.254 $1 8,937,075 37 Deletiom $8,651 134,597 16,442 8.399 168,089 7.085.515 $7,253,604 Transfers $(63,634) 59,405 (578) 4.807 G FA 6130/87 $697,211 1,750,942 420,181 696.826 3,565,160 1,051,492 16,116,626 16,437,313 1.649.41 7 $ - $38.820.008 .. . CITY OF CARLSBAD Notes to Combined Flnanclai Statements, Continued Source of Investment in General Fixed Assets Furniture and EauiDment IrnDrovementS Buildin@ a? u BALANCES, JUNE 30, 1986 $1,901,042 $1,051,138 $5,762,750 $9,977,929 $8,443,678 $27,136,537 ADD: EXPENDITURES FROM: General Fund 1,798,734 354 10,353,876 6,459,384 291,254 18,903,602 State Grant Fund 33.473 -- -33.473 TOTAL Additions 1.832.207 35410.353.8766.459.384 291.25418.937.075 DEDUCT: DISPOSALS FINANCED FROM: General Fund 168.088 -7.085.5157.253.604 TOTAL Deductions 168.089 -7.085.5157.253.604 BALANCES, JUNE 30, 1987 $3,565,160 $1,051,492 $16,116,626 $16,437,313 $1,649,417 $38,820,008 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 booster stations A summary of proprietary fund property, plant and equipment at June 30, 1987, follows: Total Proprietary Funds ServiceFu nds Funds $ 459,206 - $ 459,206 37,188 37,188 37,948 37,948 1,289,152 1,289,152 4,068,674 4,068,674 5,530,669 5,530,669 Enterprise Internal 4,684 4,684 674,858 $2,026,731 2,701,589 2.720.908 2720.908 5,759 5,759 TOTAL Less accumulated depreciation TOTAL 14,829,046 2,026,731 16,855,777 i4.045.3281 (878.848) (4.924.1 76) $1 0,783,718 $1,147,883 $1 1,931,601 (5) Pu rchase of HOSD G rove On June 1, 1987, the City purchased Hosp Grove for $6,459,384 by issuing a General Obligation note. The City guaranteed the note by pledging $6,750,000 in existing Certificates of Deposit. The note was issued under the Constitution and Laws of the State of California, Article 7.6, Chapter 4, Part 1, Division 2, Title 5. 38 I I I 1 I I 1 I I I I I I I I I I I I 1 I i 1 1 1 I I 1 I I 1 1 I 1 1 I I CITY OF CARLSBAD Notes to Combined Financial Statements, Continued The City retired the note on July 16, 1987, with the issuance of General Obligation notes in the amount of $6,821,980, due June 30, 1988, issued under the same Constitutional provisions cited above. With the repayment of the first note, the guarantee expired. The City anticipates issuing Certificates of Participation between April 1 and June 30, 1988, to retire the 1987 notes. (6) fl i V rPII i nr ili The Encina Water Pollution Control Facility (the Facility) is a sewer system owned jointly by the Cities of Carlsbad and Vista, the Leucadia County 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 manage- ment, 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, 1986, the date of the most recent audited financial statements. Operating revenue Operating expenses $ 176,700 3,131,422 Operating loss $( 2,954,722) Contribution from participants Total assets Total liabilities Total equity City of Carlsbad’s investment interest $2,462,660 $68.034.535 $ 646,059 $67,388,476 $1 6,724,104 39 CITY OF CARLSBAD Notes to Combined Financial Statements, Continued (7) Retirement P I= 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 current year was approximately $2,684,000 for current and past service costs. Pension costs are recorded as expenditures when paid and are funded by monthly contributions from the City and its 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, 1987, the plan net assets attributed to the City for benefits totaled $20,628,842, and the present value of the City’s unfunded obligation for prior service costs totaled $16,606, which will be funded through the year 2000 from established contribution rates. The excess, if any, of the actuarially 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. (8) ne ferred Co moensation Plan The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all City employees, permits them to defer a portion of their salary until future years. Amounts deferred may not exceed the lesser of $7,500 or 25% of a participants’ “includable compensation”, as defined in the participation agreement. The deferred compensation is not available to employees until termination, retirement, death, or unfore- seeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the plan), subject only to the City’s general creditors. Participants’ rights under the plan are equal to those of general creditors of the City in an amount equal to the fair market value of the deferred account of each participant. The City has no liability for losses under the plan, but does have the duty of due care that would be required of any ordinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. The City does not manage the deferred compensation plan. Instead, employees may choose between two financial institutions that offer nine different deferred compensation plans. These financial institutions invest plan assets in a combination of deferred compensation options including short-term certificates of deposit, bond funds, stock funds and government securities. At June 30, 1987, the amount of the deferred compensation investments (and the resulting deposits recorded in the Agency Fund) was $913,796. (9) mtions Under ita1 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 40 CITY OF CARLSBAD Notes to Comblned Financial Statements, Contlnued ~- ~~ agreed to pay an aggregate amount of $700,040 including interest of 10%. The annual principal 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. 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, 1987: Year Fndina June 3Q Annual Minimum Lease Pavmenb 1988 1989 1990 1991 Thereafter $ 70,000 70,000 70,000 70,000 40 Total minimum lease payments 280,040 Less amount representing interest 58,143 Present value of minimum lease payments $221,897 In May, 1986, the City entered into a lease for the building at 2075 Las Palmas Drive. The City uses this building for the Community Development Center. The lease had a purchase option that the City exercised on July 31, 1987, purchasing the building for $1,602,160. Subsequently, the City entered into a ten-year sales leaseback agreement, with Security Pacific Merchant Banking Group, commencing August 20, 1987, with annual payments of $234,529. The first payment is due February 20, 1988. 41 CITY OF CARLSBAD Notes to Combined Financial Statements, Continued (1 1) LOna Term Debt A summary of changes in Revenue Bonds Payable-Proprietary (Water Utility) Fund as follows: Balance Balance Julv 1.1986 !?zumcm- 1958 Waterworks Revenue Bonds, principal due in amounts ranging from $45,000 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% per annum) $1 37,000 1960 Waterworks Revenue Bonds, principal due in amounts ranging from $15,000 to $65,000 on July 1 of each year through 1990. (Interest is payable on January 1 and July 1 of each year at rates varying from 3.875% to 4.25% per annum) 165,000 1970 Waterworks Revenue Bonds, principal due in amounts ranging from $90,000 to $1 00,000 on July 1 of each year through 1990. (Interest is payable on January 1 and July 1 of each year at rates varying from 6.00% to 6.80% per annum) TOTAL Revenue Bonds Payable Less unamortized discount Less current portion TOTAL 42 $45,000 $92,000 10,000 155,000 470.000 85.ooo 385.ooo $772,000 $1 40,000 632,000 (3,702) (150.0001 $478,298 CITY OF CARLSBAD Notes to Comblned Financial Statements, Continued - ~ Debt service requirements to maturity are as follows: 1958 Waterworks Revenue Bonds Fiscal Yea 1987-88 1 988 -89 TOTAL Fiscal yeac 1987-88 1988-89 1989-90 1990-91 TOTAL Fiscal Year 1987-88 1988-89 1989-90 1990-91 TOTAL Interest interest Total Principal IhL!LiU Due Ja nuaw 1 hI.east- $1,886 $964 $2,850 $45,000 9 64 - 964 47,004 $964 $3,814 $92,000 $2,850 - - Interest KuL!uu $3,059 2,759 2,459 1.259 $9,536 1960 Waterworks Revenue Bonds Interest . Total -- $2,759 $5,818 2,459 5,218 1,259 3,718 1.259 $6,477 $1 6,013 1970 Waterworks Revenue Bonds Principal QuiL!Uu $15,000 15,000 60,000 65.ooo $1 55,000 Interest interest Total Principal Due Julv 1 Due January 1 lnterea Due Ju Iv 1 $12,338 $9,278 $21,616 $90,000 6,000 3,000 9,000 100,000 3.090 3.000 100,000 $30,616 $18,278 $48,894 $385,000 9,278 6,000 15,278 95,000 43 Total Annual pebt Serviu $47,850 47.964 $958 14 Total Annual Pebt Service $20,818 20,218 63,718 66.259 $1 71,013 Total Annual Debt Service $111,616 1 10,278 109,000 103,000 $433,894 I CITY OF CARLSBAD Notes to Combined Financial Statements, Continued ~~ ~ ~ A summary of changes in general long-term debt is as follows: Balance Balance Julv 1.1988 -EaYnxm- Gene ral Obliaation Bo n& 1962 Series A General Obligation Sewer Bonds, principal due in amounts ranging from $40,000 to $50,000 on July 1 of each year through 1988 (Interest is payable on January 1 and July 1 at 3.5% per annum) 1962 Series B 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% per annum) 1962 Series C General Obligation Sewer Bonds, principal due in amounts of $25,000 on July 1 of each year through 1991 (Interest is payable on January 1 and July 1 at rates varying from 3.7% to 3.75% per annum) 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) $ 130,000 $40,000 $ 90,000 400,000 145,000 1 10,000 195,000 44 40,000 360,000 20,000 125,000 15,000 95,000 25,000 170,000 1 CITY OF CARLSBAD Notes to Combined Flnancial Statements, Continued Balance Balance Julv 1. 1986 Pavme nts & 30. 1987 1969 Carlsbad Parking Authority Revenue Bonds, principal due in amounts ranging from $75,000 to $1 25,000 on October 1 of each year through 1995 (Interest is payable on October 1 and April 1 at rates varying from 6.35% to 6.4% per annum) 950,000 1981 Carlsbad Parking Authority Revenue Bonds, principal due in amounts ranging from $60,000 to $150,000 on February 1 of each year through 2001 (Interest is payable on August 1 and February 1 at 8% per annum) 1.380.000 TOTAL General Obligation Bonds 331 0,000 Capital Leases (Note 9) 275,783 Other Payables (Loan from State) 39,656 TOTAL General Long Term Debt $3,625,439 Debt Service requirements to maturity are as follows: 75,000 875,000 50.0001.330.000 265,000 3,045,000 53,886 221,897 39.656 $358,542 $3,2 66,897 1962 Series A, General Obligation, Sewer Bonds Fi sca I Interest Interest Total Principal Total Annual Due July 1 Due Januarv 1 lnlerea Due Julv I Debt Service Ea 1987-88 $1,575 $875 $2,450 $40,000 $42,450 1988-89 a75 - a75 50.000 50.875 $2,450 $875 $3,325 $90,000 $93,325 - - TOTAL 4 Fiscal Year 1987-88 1988-89 1989-90 1990-91 1991 -92 TOTAL Fiscal Yeat 1987-88 1988-89 1989-90 1990-91 1991 -92 TOTAL Fiscal Y!a 1987-88 1988-89 1989-90 1990-91 1991 -92 TOTAL CITY OF CARLSBAD Notes to Combined Financlal Statements, Continued 1962 Series B, General Obligation, Sewer Bonds Interest Interest Total Principal Total Annual Due Julv 1 Due Jan- -- Debt Service $6,480 $5,760 $1 2,240 $40,000 $52,240 5,760 5,040 10,800 40,000 50,800 5,040 3,420 8,460 90,000 98,460 3,420 1,800 5,220 90,000 95,220 $22,500 $1 6,020 $38,520 $360,000 $398,520 1.800 1.800100.000 1o1.800 1962 Series C, General Obligation, Sewer Bonds Interest Interest Total Principal Total Annual -- interest JhL!uu Service $2,338 $1,875 $4,213 $25,000 $29,213 1,875 1,406 3,281 25,000 28,281 1,406 938 2,344 25,000 27,344 937 4 69 1,406 25,000 26,406 $7,025 $4,688 $1 1,713 $1 25,000 $1 36,713 469 -2E925.oOo 25.469 1966 Library General Obligation Bonds Interest Interest Total Principal Total Annual lAfL!wl DueJa nuawl Interm Due Ja nuarv I Debt Sew ice $2,138 $2,138 $4,276 $1 5,000 $ 19,276 1,800 1,800 3,600 15,000 18,600 1,462 1,462 2,924 20,000 22,924 1,013 1,013 2,026 20,000 22,026 $6,975 $6,975 $1 3,950 $95,000 $1 08,950 562 562 1.124 25.ooo 26.124 46 I I I I 1 1 1 I I 1 1 I I I I I 1 I 1 CITY OF CARLSBAD Notes to Combined Flnancial Statements, Contlnued 1967 Carlsbad Building Authority Revenue Bonds Fiscal Interest Due Interest Due Yeat December 15 M 1987-88 $51 00 $4,350 1988-89 4,350 3,600 1989-90 3,600 2,850 1990-91 2,850 1,950 1991 -92 1,950 1,050 TOTAL $1 8,900 $1 3,800 1992-93 1.05Q Fiscal Interest Due rn LmQ!xu 1987-88 $27,943 1988-89 25,563 1989-90 23,181 1990-91 20,800 1991-92 17,600 1992-93 14,400 1993-94 11,200 1994-95 8,000 1995-96 4.00Q TOTAL $1 52,687 Total lnterest $9,450 7,950 6,450 4,800 3,000 1.050 $32,700 1969 Carlsbad Parking Authority Revenue. Bonds Principal Due QaxEhU5 $25,000 25,000 25,000 30,000 30,000 35.ooo $1 70,000 Interest Due Total A~rill Interest $25,563 23,181 20,800 17,600 14,400 11,200 8,000 4,000 $1 24,744 47 $53,506 48,744 43,981 38,400 32,000 25,600 19,200 12,000 4.ooo $277,43 1 Principal Due Octoberl $75,000 75,000 75,000 100,000 100,000 100,000 100,000 125,000 125.ooo $875,000 Total Annual Service $34,450 32,950 31,450 34,800 33,000 36.050 $202,700 Total Annual Service $ 128,506 1 23,744 118,981 138,400 132,000 125,600 1 19,200 137,000 129.00Q $1,152,431 CITY OF CARLSBAD Notes to Combined Financlal Statements, Continued ~ 1981 Carlsbad Parking Authority Revenue Bonds Fiscal Interest Due Yeat aA!&uu 1987-88 1988-89 1989-90 1990-91 1991 -92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 TOTAL $53,200 50,800 48,400 46,000 43,000 40,000 37,000 33,000 29,000 25,000 21,000 16,000 1 1,000 6.ooo $459,400 Interest Due Februarv 1 $53,200 50,800 48,400 46,000 43,000 40,000 37,000 33,000 29,000 25,000 21,000 16,000 11,000 6.ooo $459,400 Advances To and From Other Funds Total lnterea $1 06,400 101,600 96,800 92,000 86,000 80,000 74,000 66,000 58,000 50,000 42,000 32,000 . 22,000 12.00Q $918,800 Principal Due Ef2bwYl $ 60,000 60,000 60,000 75,000 75,000 75,000 100,000 100,000 100,000 100,000 125,000 125,000 125,000 150.00Q $1,330,000 Total Annual Q&! Service $ 166,400 161,600 156,800 167,000 161,000 155,000 174,000 166,000 158,000 150,000 167,000 157,000 147,000 162,004 $2,248,800 The following table shows amounts advanced from funds in the City to other funds within the City at June 30,1987: Advances to: Traffic Redevelop- Hosp Grove Impact ment Fund - Fund Fund lntal Advances From - $1,506,580 $2,827,702 509,394 Construction Fund 3,298,000 850,000 2,612,620 6,760,620 TOTAL $6,496,548 $850,000 $4,119,200 $1 1,465,748 General Fund $1,321,122 $ Revenue Sharing Fund 509,394 General Capital Sewer Fund 1.368.032 -1.368.032 I I I I I I I I I I 1 1 I I 48 CITY OF CARLSBAD Notes to Combined Flnancial Statements, Continued The following table shows amounts due from funds in the City to other funds within the City at June 30, 1987: Due To: Due From Senior Nutrition Section 8 Housing Authority Community Development Block Grant Federal Grants Traffic Impact Redevelopment Water Utility Sewer Central Garage TOTAL General Capital General Construction Sewer Fund Fund Fund $ 5,661 $ -$ - 220,898 64,778 2 25 124.632 $41 6,194 130,623 67,302 $1 97,925 76,094 $76.094 Water Utility rn hptal $ - $ 5,661 - 220,898 11,360 $1 1.360 64,778 2 25 130,623 67,302 76,094 11,360 124.632 $701.573 (1 4) 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, 1987. 49 CITY OF CARLSBAD Notes to Combined Financial Statements, Continued (15) Fund Balances/Retained Ea rningS The following is a summary of reserved and unreserved fund balances and retained earnings as of June 30, 1987, with comparative figures for June 30, 1986: Totals Governmental Fund Types (Memorandum Only) Special Debt Capital GeneralRevenueServiceProiects 1982 x!& Fund Balances: expenses supplies Reserved for prepaid Reserved for inventory Reserved for debt service Reserved for advances to Reserved for subsequent Reserved for other funds expenditures encumbrances Subtot al-Reserved Unreserved: > Designated for approved capital projects Undesignated Subtotal-Unreserved TOTAL Fund Balances $ 79,500 $ 108,803 $ -$ - $ 188,303 $ 173,373 24,216 24,216 14,069 - 1,517,085 1,368,834 2,885,919 1,281,347 2,827,702 509,394 - 6,760,620 10,097,716 3,467,445 - 343,759 - 343,759 1.861.167328.945 -3.006.8175.196.9299.507.255 4.792.585 1.290.901 1.517.085 11.136 371 18.736.8 43 14.443.48Q - 1,110,147 - 10,694,234 11,804,381 10,587,125 -771.871 - L8943.138) fI2.6Uw 2.678.453 9.963 1.883 01 8 - 2.651.096 4.543.076 13.265.57Q $4,802,547 $3,172,919 $1 ,517,085 $13,787,367 $23,279,918 $27,709,067 50 I I I I 1 I I I I 1 1 1 1 1 I 1 I I I I 1 I 1 I I 1 I I 1 I I I I I I I 1 I CITY OF CARLSBAD ~~ ~ Notes to Combined Financial Statements, Continued ~~~ ~ - ~~~~~ -- Retained Earnings: Reserved for construction Reserved for debt service Reserved for advances to Su btotal-Reserved other funds Unreserved: Designated for approved capital projects Undesig nat ed Subtotal-Unreserved TOTAL Retained Earnings Promietarv Fu nd TvDeS $ 445,851 91 1,291 1.368.032 2.735.174 5,396,125 liLEm25 $8,121,299 .. Internal SeIYiGe $ 1.388.198 1.388.198 $1,388,198 Totals /Memorandum 0 nlv) 19sz $ 445,851 91 1,291 1.368.032 2.725.174 1,778~ 01 5.006.222 S.784.3a $9,509,497 x!B§ $ 445,851 91 1,291 1.357.142 2,221,387 10.966.662 13.188.0 49 $1 4,5451 91 Reserves for prepaid expenses, inventory supplies, subsequent expenditures and advances to other funds are established to show that certain assets are already committed to other purposes and are not available lor discretionary expenditures. 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 unpedormed contracts for capital construction projects. Unreserved-designated for approved capital projects identifies plans lor and restrictions on the future use 01 financial resources for approved capital projects. Unreserved-undesignated represents the fund balance or retained earnings remaining after reduc- tion for reserved and designated fund balances or retained earnings. 51 I I I I I I I 1 I I I I I 1 1 I I I I CITY OF CARLSBAD Notes to Combined Financial Statements, Continued As of June 30, 1987, the funds with a deficit in fund balancehetained earnings were: Deficit Fund Special Revenue: Senior Nutrition Federal Grant Capital Projects: Redevelopment Hosp Grove Internal Service: Cent ral Garage $ 288 5,616 3,259,226 6,496,548 78,988 Also, the following funds had an excess of expenditures (on a budgetary basis) over appropriations: Library Audio Visual Insurance Revenue Sharing Senior Nutrition Hosp Grove $2,710 5,138 3,308 37,164 FnterDrise Fu ndS Water Sewer Iatal Contributed Capital as previously reported, July 1, 1986 Prior Period Adjustment (Note 2) Contributed Capital as restated, July 1, 1986 Additions: Cash Fixed Assets June 30,1987 Contributed Capital, $2,425,080 $1 9,831,353 $22,256,433 6.971.84Q 6.971.840 $2,425,080 $26,803,193 $29,228,273 1,885,865 1,885,865 283.1 77 283.177 $2,425,080 $28,972,235 $31,397,315 52 ~ E I I I I I I I I I I I I I I I 1 I I CITY OF CARLSBAD Notes to Comblned Flnanclal Statements, Continued Internal Service Funds General Workers’ Liability Comp- Self- Central Data Pro- ensation lnsurance Garaae cessing latal Contributed Capital Contributed Capital July 1, 1986 $500,000 $850,000 $780,977 $60,000 $2,190,977 Additions-Fixed Assets -25.86225.862 June 30,1987 $500,000 $850,000 $780,977 $85,862 $2,216,839 (17) Seament In form ion for FnterDrise Fu ndS The City maintains two enterprise funds that provide water and sewer services. Segment inforrna- tion for the year ended June 30,1987, is as follows: Water Total Utility Sewer Enterprise m EUnd Funds Operating revenues Depreciation and amortization Operating income (loss) Non-operating income or (loss) Net income Capital contributions Property, plant and equipment expenses (at cost) : Additions Deletions Net working capital Bonds payable from operating revenues Total Assets Total Equity $1,243,152 $ 1,778,769 $3,021,921 122,146 139,697 261,843 309,784 (46,105) 2 63,679 252,502 679,560 932,062 562,286 633,455 1,195,741 2,425,080 28,972,235 31,397,315 9,044 525,959 535,O 03 10,838 10,838 374,313 10,096,001 10,470,314 478,298 478,298 9,344,020 33,952,380 43,296,400 7,698,410 31,820,204 39,518,614 53 CITY OF CARLSBAD Notes to Comblned Financial Statements, Continued On March 10, 1986, $460,942 in Assessment District Bonds were issued under provisions of the Improvement Bond Act of 191 1. The bonds were issued to finance a public infrastructure improve- ments 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 Improvement Bond Act of 1915. The bonds were issued to finance a public infrastructure improve- ments 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. Accordingly, no liability has been recorded in the General Long-Term Account Group. (a) 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 low or moderate income. The following is a schedule of all such bonds issued since inception of the programs: October, 1983 ~prii, 1985 May, 1985 June, 1985 TOTAL 54 $20,000,000 16,000,000 16,500,000 15.000.00Q $67.500.000 P I I I I I I I I 1 I 1 I 1 I 1 I I I I I I I I I I I I I u I I I 1 I I I I CITY OF CARLSBAD Notes to Combined Financial Statements, Continued - -~ 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. (b) 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. 55 I I I I 1 56 I I I I I I I SUPPLEMENT SECTION I I I I I I I I I I I 1 GENERAL FUND To account for all financial transactions not accounted for in other funds. The majority of current operation expenditures of the City other than property funds are financed through revenues receivedby the Generai Fund. 57 CITY OF CARLSBAD GENERAL FUND - SCHEDULE OF REVENUES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Adjustment Actual on Var i awe to Budgetary Budgetary Favor ab1 e - Actual Basis Basis Budqet JUnfavorablel 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 S 7,336,559 213,486 6,487,371 1,729,998 372,678 196,499 25.523 17.025.712 663,598 t - L 7,336,559 - 213.486 - 6,487,371 - 1,729,998 - 663,598 - 372,678 - 196,499 25.523 - 17.025.712 t 7,050,000 t 286,559 190,000 7,000,000 1,250,000 650,000 225,000 170,000 27,000 16,562.000 23,486 (51 2,629) 479,998 13,598 147,678 26,499 (1.477) 463.712 LICENSES AND PERMITS Vehicle licenses (in-lieu) 1,619,060 - 1,619,060 1,350,000 269,060 Construction permits 1,230,100 - 1,230,100 998,000 232,100 Business licenses 5 1 7,972 - 517,972 520,000 (2,028) License tax on new Other 4.729 - 4.729 10.000 (5.271) TOTAL LICENSES AND PERMITS 4.348.903 - 4.348.903 3.578.000 770.903 977,042 - 977,042 700,000 277,042 construct i on INTERGOVERNMENTAL - Grants 5.184 - 5.184 5.184 CHARGES FOR SERVICES Zoning and subdivision fees 48,912 48,912 80,000 (31,088) Sales of maps and pub1 ications 47,292 47,292 35,000 12,292 Plan checking fees 1,201,618 - 1,201,618 1,325,000 (123,382) Engineering fees 529,343 - 529,343 499,550 29,793 Library and parks and recreation fees 5 14,949 - 514,949 609,000 (94,051) Police service fees 14,491 14,491 15,000 (509) Amkrlance fees 123,432 - 123,432 75.000 48,432 Envirormental inpact studies 9,220 9,220 15,000 (5,780) City property damage Other TOTAL CHARGES FOR SERVICES FINES AND FORFEITS Vehicle code fines Other TOTAL FINES AND FORFEITS INTEREST INCOME MI SCELLANEWS Reimkrrsed expenditures Sale of property Rents Other TOTAL MISCELLANEWS 6,048 6,048 6,048 11 1,471 - 111.471 62.730 48.741 2,606.776 - 2.606.776 2,716,280 (109,504) 366,461 - 366,461 388,000 (21,539) 136 - 136 381 (245) 366.597 - 366.597 388.381 (21.784) 1.149.488 - 1.149.488 700.000 449.488 164,770 - 164,770 174,556 (9,786) 14,062 14,062 15,000 (9381 4,131 4,131 4,000 131 755.135 - 755.135 734.709 20.426 938,098 - 938.098 928,265 9.833 58 CITY OF CARLSBAD GENERAL FUND - SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 -- -~ ~ Adjustment Actual on Variance to Budgetary Budgetary Favorable ~~ __ ~ __~ Actual CURRENT: GENERAL GOVERNMENT City counci l S 92,393 City manager 422,262 City clerk 62,644 Research/analysis group 209,802 City attorney 228,526 Finance 651,581 City treasurer 42,739 Information systems 589,287 Purchasing 223,505 Insurance 129,700 Personnel 397,768 P 1 ami ng an, 078 Cormunity promotion 200,089 Senior citizens programs 72,652 Comnunity assistance 46,500 Weed abatement 36,682 Contingencies 33,243 Capital improvement 4,912 Building maintenance 495,960 Lease 71,574 Developnent processing service 448,350 Other 305. a30 TOTAL GENERAL GOVERNMENT 5.639.077 Basis S 15,268 5,480 13,500 4,682 5,459 2,603 104 5,042 5,985 15,345 62,580 4,705 44,721 47,069 6,013 11.041 249.597 Basis S 107,661 427,742 76,144 214,484 233,985 654,184 42,739 589,391 228,547 135,685 413,113 935,658 200,089 77.357 46,500 81.403 33,243 4,912 543,029 71,574 454 , 363 316.871 5.888.674 Bwlqet jUnfavorable1 S 113,365 466,330 81,610 249,216 233,550 664.453 44,321 648,460 222,368 162,753 389,016 1,006,934 200,089 135,686 66,500 77.209 121,467 10,075 559,365 406,126 s 5,704 38,588 5,466 34,732 10,269 1,582 59,069 (6,179) 27,068 ( 24,097) 71,276 58,329 (4,194) 88 * 224 5,163 16,336 334,552 (435 1 420,968 (33,395) 305.307 (11.564) 6.565.168 676.494 PUBLIC SAFETY Fire protection 3,252,775 55,715 3,308,490 3,503,679 195,189 Police protection 5,161,275 33,200 5,194,475 5,105,466 (89,009) Building inspection 935,229 6,788 942,017 964,480 22,463 Civi l defense 103.277 1.272 104.549 104.291 (258) TOTAL PUBLIC SAFETY 9.452.556 96.975 9,549.531 9.677.916 128,385 PUBLIC WORKS Engineering 1,930,179 45,778 1,975,957 1,995,974 20,017 Streets 1,627,101 1,300,048 2,927,149 2,926,576 (573) Maintenance 510.140 12.512 522,652 557.487 34.835 TOTAL PUBLIC UORKS 4.067.420 1.358.338 5 .425.75a 5 .LBO, 037 54.279 CULTURE AND RECREATION Parks and recreation 2,47a,960 ii2.5i6 2,591,476 2,784,260 i92.m Library 1,711,675 43.741 1.755.416 1,708,966 (46.450) TOTAL CULTURE AND RECREATION 4.190.635 156.257 4.346.892 4.493.226 146.334 TOTAL EXPENDITURES $23,349,688 $1,861,167 $25,210,855 $26.216.347 S1.005.492 59 ECIAL REVENUF FUNDS Civic Arts P roaram To account for transfer from the General Capilaldonstruction Fund to support the civic arts program. Communitv Develooment Block Grant To account for federal block grant for community development. Federal Gram To account for miscellaneous grants from the federal government, including Federal Aid Urban and Highway Bridge Repairs and Replacement. Gamu 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. wav To account for money received from the State of California for street maintenance and reconstruction. arv Aud io Visual lnsu r- To account for revenue received and expenditures on rental of audio-visual material. 1 ow and Moderate Income Housirlg To account for money administered by the Carlsbad Redevelopment Agency for designated low and moderate income housing. Mortqage Reve nue Bona To account for money available to the City for expenditures incurred due to Mortgage Revenue Bonds. Police Asset Forfeiture To account for money received by the City under a federal program distributing property confiscated from illegal activities. Revenue Sharing To account for revenue sharing grants from the federal government. Section 8 Housina Authoritv To account for federal grant for low and moderate income housing supplemental payments. Senior Nutritiou To account for money received receipts and expenditures for senior programs under the Older Americans Act. te GranB To account for State of California grants including Library Literacy, CLSA and Department of Transportation grants. 60 Street Liahtirlg To account for revenue received and expenditures made from property tax assessments ~ ~~ -~~ . for street lighting. 61 CITY OF CARLSBAD SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR JUNE 30, 1986 ASSETS Cash and investments Receivables: Loan Taxes Accounts Accrued interest Due from other governments 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 governments TOTAL LIABILITIES FUND BALANCES (DEFICIT) Reserved for prepaid expenses Reserved for advances to other funds Reserved for subsequent expenditures Reserved for encumbrances Unreserved: Designated for approved Undesignated capital projects TOTAL FUND BALANCES (DEFICIT) TOTAL LIABILITIES AND FUND BALANCES ~ Civic Arts Proqram $225,389 - - - 2 , 178 - - - $227,567 - - $ - - - - - - - 15,000 212,567 227,567 $227,567 ~~~~~ ~ Community Development Block Grant $384,723 11,663 - - 64 , 778 - - $461,164 - $ 5,391 64 , 778 225 - - $ - - 64,778 5,616 - - 2,121 35,839 394,265 (41 , 455) - - 396,386 (5,616) $461,164 - $ Continued on next page 62 Library Audio Visual Insurance Low and Moderate Income Housinq Mortgage Revenue Bonds Highway Maintenance Gas Tax $760,756 $ - $92 , 947 $337 , 660 $53 , 300 - 52,255 7,351 - - - - 3 , 263 - - $820,362 $ $93,845 $340,923 $53 , 815 - $ $ $ $ 260 - - - 260 340,923 - - 36,011 - 3,536 696,187 88,164 90,049 53,815 820,362 340,923 93.585 53,815 $820,362 $340,923 $93 , 845 Continued on next page 63 CITY OF CARLSBAD SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET JUNE 30, 1987 WITH COMPARATIVE ~ FIGURES FOR JUNE 30, 1986 -~ ~ ~ Section 8 Housing Author'ity Police Asset Forfeiture Revenue Sharinq ASSETS $3 , 563 $ 277 $122,229 Cash and investments Receivables: Loan Taxes Accounts Accrued interest Due from other governments Advances to other funds Prepaid expenses TOTAL ASSETS - - - 4,861 509 , 394 - - - - - - 215,848 99,936 - $438,013 $3 , 597 $514,532 LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable Accrued wages payable Due to other funds Advances from other governments - $ 2,915 - 10,773 - 220,898 - 97,882 $ TOTAL LIABILITIES FUND BALANCES (DEFICIT) 332,468 Reserved for prepaid expenses Reserved for advances to other funds Reserved for subsequent expenditures Reserved for encumbrances Unreserved: Designated for approved Undesignated capital projects - 99,936 509,394 - - 2,836 5,138 2 , 773 3,597 TOTAL FUND BALANCES (DEFICIT) 514,532 105,545 3,597 TOTAL LIABILITIES AND FUND BALANCES $514,532 $438 , 013 $3,597 Continued on next page 64 ~ .~ Senior Nutrition $ - - - - - 17 , 820 - - $17,820 $ 8,265 5,661 4,182 18,108 - - - - 3 , 995 (4,283) - (288) $17,820 State Grants $325,211 - - - 6,846 - - 8,867 3340,924 Street Lishtinq $346,256 - 10,909 3 , 347 3 , 225 - - - $363,737 Totals 1987 1986 11 , 663 11,663 3 , 225 7,301 29,293 37,769 298 , 446 66,156 509 , 394 108,803 87,223 63 , 164 - - $3,676,299 53,953,160 $ 38,873 $ 31,145 $ 86,849 $ 350,536 4 , 919 7 , 213 22 , 905 14 , 836 - - 291,562 17 , 446 - - 102,064 97,882 43,792 38.358 503,380 480,700 8,867 - - 237,832 50,433 - 297,132 $340 , 924 - - - 1,700 - 323,679 325.379 $363,737 108 , 803 87 , 223 509,394 - 343,759 173 , 368 328 , 945 1,740,305 1,110,147 6,404,634 771.871 (4,933,070) 3,172,919 3,472,460 $3,676,299 $3,953,160 CITY OF CARLSBAD SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEW ENDED JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30, 1986 REVENUES Taxes Intergovernmental Charges for services Interest income Miscellaneous revenues TOTAL REVENUES EXPENDITURES Current : Public works Welfare Culture and recreation Miscellaneous Capital outlay TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OTHER FINANCING SOURCES (USES) Operating transfers in Operating transfers (out) SOURCES (USES) OVER EXPENDITURES TOTAL OTHER FINANCING 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 AT civic Arts Prosram - - $ - 15,742 - community Development Block Grant - $ 119,276 12,765 - - 15.742 - - 760 - - 760 14,982 - - - 14,982 212 I 585 - - BALANCES (DEFICIT) END OF YEAR $227 I 567 132,041 - - - 69,151 69,151 62,890 30,951 - 30,951 93 , 841 302 , 545 - - $396,386 Federal Grants - - $ - - - - - 5,616 - - - 5,616 (5,616) - - - (5,616) 890 (890) - $(5,616) Continued on next page 66 Library Audio Visual Insurance - - $ 57 , 393 6,574 - Low and Moderate Income Housinq Mortgage Revenue Bonds Highway Gas Tax Maintenance - $729 , 001 $ 68 , 900 106 , 904 $166,026 - - 18 , 708 - 835,196 124,632 184,734 63,967 3,715 222,671 - 222,671 - 40,353 612,525 124,632 23,614 184,734 3,715 612 , 525 124 , 632 23 , 614 184 , 734 3 , 715 69,971 - 156,189 - 50 , 100 207 , 837 144 , 753 - - - (269,385) $820,362 - s $93,585 $340,923 $53,815 Continued on next page 67 CITY OF CARLSBAD SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 1987 WITH COMPARATWE FIGURES FOR THE YEAR ENDED JUNE 3-0. 1986 REVENUES Taxes Intergovernmental Charges for services Interest income Miscellaneous revenues Police Asset Revenue Forfeiture Sharing - -$ - 191,685 246 71,530 $ - - - - Section 8 Housing Authority TOTAL REVENUES 246 263,215 1,259,768 EXPENDITURES Current : Public works Welfare Culture and recreation Miscellaneous Capital outlay - - - - 1,563,945 - TOTAL EXPENDITURES - 1,563,945 1,258,625 EXCESS (DEFICIENCY) OF REVENUES OTHER FINANCING SOURCES (USES) OVER EXPENDITURES 246 (1,300,730) 1,143 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 246 (1,300,730) 1,143 BEGINNING OF YEAR 3,351 1,815,262 104,402 FUND BALANCES AT RESIDUAL EQUITY TRANSFERS IN RESIDUAL EQUITY TRANSFERS (OUT) - - - - - - FUND BALANCES (DEFICIT) AT END OF YEAR $3,597 $ 514,532 $ 105,545 Continued on next page 68 1 I I I 8 I I 8 1 I I I 1 1 I I I I 8 Senior Nutrition $ - 43 , 132 - - 13.843 56,975 - 57,263 - - - 57,263 (288) - - - State Grants - $ 3,815,617 43 , 856 6,075 - 3,865,548 752 298 , 953 - - 3.288.341 3.588.046 277,502 73,750 (100,145) (26,395) Street Liahtinq $427,673 48,330 24 , 043 - - 500,046 533 , 217 - - - - 533,217 (33,171) - - Totals 1987 $1,322,700 5,603 , 685 105,723 253 , 799 19,918 7,305,825 533 , 969 1,321,504 340,066 5,144,108 - 7,339,647 (33,822) 104 , 701 1100.145) 4,556 1986 $1 082 , 317 58,421 418,841 5,232 2 , 924 a92 4,489,703 677 , 560 1,052 , 394 171,490 2 , 888 3,453,221 5,357,553 (867,850) - (363,289) (363,289) (288) 251,107 (33,171) (29,266) (1,231,139) - 46,025 358,550 3 , 472 , 460 4,705,483 - - - (270,275) (1,884) - - - - - $325,379 $3,172,919 $3,472,460 69 CITY OF CARLSBAD SPECIAL REVENUE FUNDS COnBINING STATEMENT OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDING JUNE 30. 1987 ~~~ Civic Arts Program Actual on Budgetary Basis REVENUES Taxes t- Intergoverwntal Charges for services Interest income 15,742 Miscellaneous revenues TOTAL REVENUES 15.742 EXPENDITURES Current: Public works Vel f are Culture and recreation 760 Miscellaneous Capital outlay TOTAL EXPENDITURES 760 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 14.982 Operating transfers in Operating transfers (out) SOURCES (USES) OTHER FINANCING SOURCES (USES) TOTAL OTHER FINANCING EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $14,982 Budset t 9,000 9.000 27,000 27.000 (18.000) Var i ance Favorable IUnfavorablel t- 6,742 6.742 26,240 26,240 32,982 t(18.000) $32.982 Continued on next page 70 Comnunity Develocment Block Grant Federal Grants Actual on Var i awe Budgetary Favorable Basis Budget jUnfavorable2 Variance Favorable lUnf avorable) Actual on Budgetary Bas i s Budqet f -s -s s 119,276 12,765 s f 119,276 12,765 132.041 132.041 41,455 1,102,460 1 , 061 , 005 71.272 558.926 487.654 41.455 1,102.460 1.061.005 487.654 71,272 558.926 J558.926) (41.455) ( 1.102.460) 1,061.005 60.769 619.6% 30,951 30,951 30.951 30.951 S 91,720 f(527.975) S619.695 S(41.455) S( 1,102,460) S1,061,005 Continued on next page 71 CITY OF CARLSBAD SPECIAL REVENUE FUNDS COnBlNING STATEMENT Of REVENUES AND EXPENDITURES BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDING JUNE 30. 1987 ~~~~~ ~ __ Gas Tax Actual on Variance Budgetary Favorable Basis Budget (Unfavorable1 REVENUES Taxes $729,001 t 587,000 t 142,001 Charges for services Interest income 37,2% 50,000 ( 12,705) Miscellaneous revenues Intergoverrmental 68,900 68,900 TOTAL REVENUES 835.196 637.000 198,196 EXPENDITURES Current: Palic works We 1 fare Culture and recreation Miscellaneou Capital outlay 258.682 954.869 696.187 TOTAL EXPENDITURES 258.682 954.869 696,187 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 576.514 (317.869) 894.383 OTHER FINANCING SOURCES (USES) Operating transfers in Operating transfers (out) - (637.000) 637.000 TOTAL OTHER FINANCING SOURCES (USES) - (637.000) 637.000 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $576.511 S(954.869) t1.531.383 Continued on next page Hiqhway Maintenance Library Audio Visual Insurance Variance Favorable lUnf avorablel Actual on Budgetary Basis Var i awe Actual on Favorable Budgetary jUnf avorable) Basis Budaet Budqet t 95,000 10,000 s t- t- 57.393 45,000 11,904 7,728 6,574 s,ooo t- 12,393 1,574 t 106,906 17,728 124.632 105.000 13.967 19.632 63.967 50,000 43,889 41,179 (2,710) (2.710) 43.889 41.179 11.257 124,632 105.000 19.632 20.078 8.821 (249.000) 249.000 (249,000) 249.000 $11,257 520,078 5 8,821 5124,632 5( 144,000) $268.632 Continued on next page 73 CITY OF CARLSBAD I SPECIAL REVENUE FUNDS COnBINING STATEMENT OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL (BUOGETARY BASIS) FOR THE YEAR ENDING JUNE 30. 1987 Low and Maderate Income Housing Actual on Budgetary Basis REVENUES Taxes $166,026 Intergovermtal Charges for services Interest income 18,708 Miscellaneous revenues .- TOTAL REVENUES 184.734 EXPENDITURES Current: Public works We 1 fare Culture and recreation Miscellaneous Capital out lay TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 184.734 OTHER FINANCING SOURCES (USES) Operating transfers in Operating transfers (out) SOURCES (USES) TOTAL OTHER FINANCING EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $184.734 Budset $1 20,000 9,260 129.260 Var i ante Favorable pnfavorabler S46,026 9,440 55.466 129.268 55,466 $55.466 Continued on next page 74 I I I I T 1 1 I I I 1 I 1 I E 1 I 1 I Police Asset Forfeiture Mortqage Revenue Bonds Actual on Var i awe Actual on Budgetary Favorable Budgetary Basis Budget JUnf evorable) Basis Budset Variance Favorable {Unfavorable2 s- t- 3,715 t- 3,715 t- t- 246 J- 246 246 - 246 - 3.715 246 - 246 - 3.715 3.715 S 246 - - s - Continued on next page $3.715 - a - s- 13.7’15 75 CITY OF CARLSBAO SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL (BUOGETARY BASIS) F6R THE YEAR ENDING JUNE 30. 1987 Revenue Sharina Actual on Budgetary Basis BudPet REVENUES Taxes s -s Intergovermiental 191,685 150,000 Charges for services Interest income 71,530 Miscellaneous revenues TOTAL REVENUES 263.21 5 150.000 EXPENDITURES Current: Public works Welfare Culture and recreation Miscellaneous Capital outlay 1 ,569.083 1.563.945 TOTAL EXPENDITURES 1.569.083 1.563.945 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES ( 1,305.868) ( 1,413.945 2 OTHER FINANCING SOURCES (USES) Operating transfers in operating transfers (out) SOURCES (USES) TOTAL OTHER FINANCING EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES S( 1,305,868) S( 1,413,945) Vari ante Favorable (Unfavorable1 s 41,685 71,530 113.215 (5.138) (5.138) 108,077 $1 08,077 Continued on next page 76 Section 8 Housinq Authority Senior Nutrition Actual on Veri ance Actual on Variance Budgetary Favorable Budgetary Favorable Basis Budget (Unfavorable) Basis Budget <Unfavorable> t -t -s s- t- s- 1,258,171 1,213,666 44,505 43,132 46,350 (3,218) 1,597 20,000 (18,403) 13.843 11.600 2,243 1.259.768 1.233.666 26.102 56.975 57.950 (975 1 1,261,398 1,395,053 133,655 61,258 57,950 (3,308) 1,261.398 1.395.053 133.655 (1.630) (161.387) 159.757 S (1,630) S (161.387) L159.757 61,258 57.950 (3.308) (4.283) - (4.283) L(4.283) S - S(4,283) Continued on next page 77 CITY OF CARLSBAD SPECIAL REVENUE FUNDS COMBINING STATEMENT OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDING JUNE 30. 1987 ~ State Grants Actual on Veri awe Budgetary Favorable Basis Budqet (Unfavorable1 REVENUES Taxes t -t -s lntergovermntal 3,815,617 188,490 3,627,127 Charges for services Interest incone 43,856 43,856 Miscellaneous revenues 6,075 6.075 TOTAL REVENUES 3.865.548 188.490 3,677.058 EXPENDITURES Current: Public works 752 204,961 204,209 Ue l fare Culture and recreation 390,619 402,386 11,767 Miscellaneous Capital outlay 3.434.507 3.636.986 202.479 TOTAL EXPENDITURES 3.825.878 4,244.333 418,455 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 39,670 (4.055.8432 4.095.5 13 OTHER FINANCING SOURCES (USES) Operating transfers in 73,750 73,750 Operating transfers (out) (100.145) (1 00.145 1 SOURCES (USES) (26.395) (26.395) TOTAL OTHER FINANCING EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES f 13.275 S(4.082.238) S4.095.513 Continued on next page 78 1 I I I 1 I 1 1 1 I I I I 1 I I I I Street Lightins Actual on Budgetary Basis S427.673 48,330 24,043 Budget S410,790 24 722 30,000 Variance Favorable (Unfavorable] $16,883 23,608 (5,957) .- ~ 500.046 534.91 7 465.512 562,525 34.534 27,608 534.917 (34,871 ) 562.525 (97.013) 27.608 62.142 S(34.871) S ( 97,013 1 S62,142 Totals Var i axe Actual on Budgetary Favorable Basis Budget (Unfavorable) $1,322,700 $ 1,117,790 S 204,910 5,603,685 1,693,506 3,910,179 105,723 69,722 36,001 120,531 253,799 133,268 19.918 11.600 8.318 7.305.825 3.025.886 4.279.939 535,669 767,486 231,817 1,364,111 2,555,463 1,191,352 435,268 470,565 35,297 5.333.544 6.714.726 1.381.182 7.668.592 10.508.240 2.839.648 (362,767) (7.482.354) 7.119.587 104,701 104,701 ( 100.145 1 (986.145) 886 * 000 4.556 (881.444) 886,000 f (358.211) S(8.363.798) S8.005.587 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BWGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Civic Arts Prosrm REVENUES Interest income TOTAL REVENUES EXPENDITURES Current: Culture and recreation TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES Actual Sl 5.742 15.742 760 760 $14.982 Adjustment to Budgetary Basis s s Actual on Budgetary Basis $15.742 15.742 760 760 $1 4,982 Budqet S 9.000 9.000 27,000 27,000 S ( 18,000) Variance Favorable XUnfavorable) S 6.742 6.742 26.240 26,240 1 I- I I I 1 I I I I I 1 1 I I I 1 8 I 0 I I 1 I i I I I I I I I I 1 I I I CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Comnwrity Developnent Block Grant Actual REVENUES Intergovermntal $1 19,276 Interest income 12.765 TOTAL REVENUES 132,041 EXPENDITURES Capital outlay 69.151 TOTAL EXPENDITURES 69.151 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 62.890 OTHER FINANCING SOURCES Operating transfers in 30.951 SWRCES 30.951 TOTAL OTHER FINANCING EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES S 93,841 Adjustment Actual on Variance to Budgetary Budgetary Favorable Basis Basis Budset IUnfavorablel I - $119,276 S - $119,276 12.765 12.765 132,041 132.041 2.121 71.272 558.926 487.654 2.121 71.272 558.926 487.654 (2.121). 60,769 (558.926) 619.6% 30,951 30.951 - 30.951 30,951 - S (2,121) S 91,720 S(527.975) $619.695 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Federal Grants Adjustment Actual on Variance to Budgetary Budgetary Favorable Actual Basis Basis Budget IUnfavorablt) EXPENDITURES Current: Welfare TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES S 5.616 S 35.839 $ 41.455 S 1,102,460 1,061,005 5.616 35.839 41.455 1.102.460 1,061.005 S(5.616) S(35.839) S(41.455) S(1.102.4601 S1.061.005 81 CITY OF CARLSBAO SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Gas Tax Fund REVENUES Taxes Intergoverrmental Interest incune TOTAL REVENUES EXPENDITURES Capital outlay TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING (USES) Actual $729,001 68,900 37.2% 835.1% 222.671 222,671 612.525 Operating Transfers (out) - (USES) TOTAL OTHER FINANCING EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $6 12,525 Adjustment to Budgetary Basis t $ 36.011 36.011 (36,011) S(36.011) Actual on Var i ancc Budgetary Favorable Basis Budqet $Unfavorable1 $729,001 f 587,000 $ 142,001 68,900 68,900 37.2% 50.000 (1 2,705 1 835.196 637.000 198.196 258.682 954,869 696.187 258.682 954.869 696.187 576.514 (317.869) 894.383 - (637.000) 637.000 - (637,000) 637.000 $576.514 f(954.869) $1,531,383 82 I I I I I 1 I I I I I I I I I I I I I I I 1 I 1 I I I I I I ,I I I I 1 1 I 1 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Highuay Maintenance Adjustment to Budgetary Actual Basis REVENUES Intergoverrrnental 51 06,904 Interest income 17.728 TOTAL REVENUES 124.632 OTHER FINANCING (USES) Operating transfers (out) (USES) TOTAL OTHER FINANCING EXCESS (DEFICIENCY OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 5124,632 5 L Actual on Budgetary Basis Budqet 5106,904 f 95,000 17,728 10.000 124.632 105.000 - (249,000) - (249,000) 5124.632 f(144.000) Variance Favorable IUnfavorablel S 11,904 7.720 19.632 249,000 249,000 5268,632 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Library Audio - Visual Insurance REVENUES Charges for services Interest income TOTAL REVENUES EXPENDITURES Current: Culture and recreation TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES Adjustment to Budgetary Actual Basis 557,393 6.574 63.967 40,353 40,353 $23,614 f- S 3.536 3,536 5 ( 3,536) 83 Actual on Budgetary Basis 557,393 6.574 63.967 43,889 43.889 520,078 Budget $45,000 5.000 50.000 41.179 41,179 5 8,821 Var i axe Favorable {Unfavorable) 51 2,393 1.574 13.967 (2,710) (2.71 0) $11,257 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Low and Moderate Income Housinq ~~ - Adjustment Actual on Variance to Budgetary Budgetary Favorable Actual Basis Basis Budget XUnfavorable) REVENUES Taxes Interest TOTAL REVENUES EXCESS (DEFICIENCY) OF REVENUE AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $166,026 $166,026 S120,OW $46,026 18.708 - 18.708 9.268 9.440 184.734 - 184.734 129,268 55 * 466 $184,734 f $184.734 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Hortgaqe Revenue Bonds Adjustment Actual on Variance to Budgetary Budgetary Favorable Actual Basis Basis Budget IUnfavorable) REVENUES Interest income $3.715 f- $3.715 s- 53.715 TOTAL REVENUES 3.715 3.715 3.715 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $3.715 t 53.715 L $3.715 84 I I I I I I I I I 1 I I I I 1 I I I I CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 ~___ - Pol ice Asset Forfeiture ~~ Adjustment Actual on Var i awe to Budgetary Budgetary Favorable Actual Basis Basis Budqet $Unfavorable1 REVENUES Interest income TOTAL REVENUES 246 s- f 246 - f- f 246 246 - 246 246 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINACING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES t- t266 - - - t- - - CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Revenue Sharinq Adjustment Actual on Variance to Budgetary Budgetary Favorable Actual Basis Basis Budqet (Unfavorable) REVENUES Intergovernmental f 191,685 S - t 191,685 f 150,000 f 41,685 Interest income 71 .530 71,530 71,530 113.215 TOTAL REVENUES 263.215 263,215 150.000 EXPENDITURES Capital out Lay 1 ,563.945 5.138 1.569.083 1,563,945 (5.138) TOTAL EXPENDITURES 1.563.945 5,138 1.569.083 1.563.945 (5.138) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES f( 1,300,730) f(5.138) f( 1,305,868) f( 1,413.945 1 5108,077 85 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Section 8 - Housinq Authority Adjustment Actual on to Budgetary Budgetary Actual Basis Basis Budget REVENUES Intergovermntal $1,258,171 S - $1,258,171 $1,213,666 Interest incm 1.597 - 1,597 20.000 TOTAL REVENUES 1.259.768 - 1.259.768 1.233.666 EXPENDITURES Current: Welfare 1,258,625 2.773 1.261.398 1,395.053 TOTAL EXPENDITURES 1,258.625 2.773 1.261.398 1.395.053 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES S 1.143 S(2.773) S (1.630) S (161,387) CITY OF CARLSBAD Variance Favorable (Unfavorable1 S 44,505 ( 18,403) 26,102 133.655 133.655 S159.757 SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Senior Nutrition REVENUES Intergoverwntal Miscellaneous TOTAL REVENUES EXPENDITURES Current: Welfare TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPEUDITURES AND OTHER FINANCING USES Actual $43.132 13.843 56.975 57.263 57.263 f (288) Adjustment to Budgetary Basis f- 3,995 3,995 S(3.995) I I 1 I I I 1 I I I Actual on Budgetary Basis $43,132 13.843 56.975 61,258 61 .258 S( 4,283) 86 Vat i awe Favorable Budqet {Unfavorable1 $46,350 f(3.218) 11.600 2,243 57.950 (975) 57.950 (3.308) 57.950 (3.308) t S(4.283) I I I I I i 1 8 I I 1 1 1 I 1 I 1 I I I 1 1 1 1 I 1 1 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 State Grants Adjustment Actual on Variance to Budgetary Budgetary Favorable Actual Basis Basis Budget {Unfavorable) REVENUES I ntergoverwntal Interest income MiscelLaneous revenue TOTAL REVENUES EXPENDITURES Current : Public works $3,815,617 S - $3,815,617 S 188,490 $3,627,127 43,856 43,856 43,856 6.075 6.075 6.075 3,865,548 - 3.865.548 188.490 3.677.058 75 2 752 204,961 204,209 Culture and recreation 298,953 91,666 390,619 402,386 11,767 Capital outlay 3.288.341 146,166 3.434.507 3.636.986 202,479 TOTAL EXPENDITURES 3,588.046 237.832 3.825.878 4.244.333 418,455 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 277.502 (237.832) 39.670 (4.055.843) 4.095.513 OTHER FINANCING SOURCES Operating transfers in 73,750 73,750 73,750 Operating transfers (out) (100.145) ( 100,145) ( 100 ~ 145 1 TOTAL OTHER FINANCING SOURCES (USES) (26.395 ( 26,395 ) (26.395 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES t 251,107 S(237.832) t 13,275 f(4.082.238) $4,095,513 87 CITY OF CARLSBAD SPECIAL REVENUE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Street Lightinp Actual REVENUES Taxes $427,673 Charges for services 48,330 Interest income 24,043 TOTAL REVENUES 500,046 EXPENDITURES Current: Public works 533.217 TOTAL EXPENDITURES 533.21 7 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES f(33.171) Adjustment to Budgetary Basis t- 1.700 1.700 t( 1,700) Actual an Budgetary Basis $427,673 48,330 24.043 500,046 534.917 534.917 S(34.871) aa ~ Budqet $4 10,790 24,722 30,000 465,512 562.525 562.525 S( 97,013) ~ Variance Favorable lUnf avorabl el $16,883 23,608 (5.957) 34,534 27.608 27,608 M2.142 I I 8 1 I I I 1 1 1 1 I I 1 1 1 I I I I i I 1 1 1 i 1 1 1 1 I 1 1 I I 1 1 I ibrarv Bonds To accumulate property taxes specifically lelvjed for payment of debt service on the 1966 Library General Obligation Bonds. i5lwam& To accumulate property taxes specifically levied for payment of debt service on the 1962 Series A, B and C Sewer General Obligations 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. Buildina Autho ri ty 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. 89 CITY OF CARLSBAD DEBT SERVICE FUNDS COnBINING BALANCE SHEET JUNE 30, 1987 UlTH CCMPARATIM FIGURES FOR JUNE 30. 1986 ~ - Library Sewer Parking Building Totals 1986 -- Bonds Bonds Authority Authority 1987 - ASSETS Cash and investments %,778 Taxes receivable 592 Accrued interest receivable 45 TOTAL ASSETS $7.415 LIABILITIES AND FUND BALANCES LIABILITIES Due to other funds f- Accrued interest payable 2,138 Deferred revenue TOTAL LIABILITIES 2.138 FUND BALANCE Reserved for debt service 5,277 Reserved for working capital Unreserved TOTAL FUND BALANCES 5.277 22.190 24.073 $134.421 $1,300,935 $122.845 $1,565,616 $1,569,646 1.164 20.465 516 f -$ -$ -$ - f 6,300 10,393 12,531 14,638 - 36.000 36.000 10.393 - 36.000 48,531 20.938 4,500 - 894.050 TOTAL LIABILITIES AND FUND BALANCES $7.415 $134.421 $1.300.935 $122.845 $1,565,616 $1,569,646 -- 90 CITY OF CARLSBAD DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 1987 UfTH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30, 1986 ~~~~~~~ ~ Library Sewer Parking Building Totals -- Bonds Bonds Authority Authority - 1987 - 1986 REVENUES Taxes Interest income TOTAL REVENUES EXPENDITURES 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 SOURCES TOTAL OTHER FINANCING EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCES (DEFICIT) AT BEGINNING OF YEAR FUND BALANCES AT END OF YEAR 530,891 $105,398 f - f - f 136,289 f 128,252 152 5.650 85.357 6.207 97.366 116.977 31.043 111.048 85,357 6.207 233.655 245.229 3,851 563 4,414 4,523 15,000 100,000 125,000 25,000 265,000 265,000 4.728 21.535 168,651 10,950 205,864 218.352 19.728 121.535 297.502 36,513 475.278 487.875 -- 174.000 36,000 210.000 210,000 -- 174.000 36,000 210,000 210,000 11,315 (10,487) (38,145) 5,694 (31,6231 (32,646) (6.038) 134.515 1.339.080 81,151 1.548.708 1,581,354 t 5,277 S124.028 $1,300,935 $86.845 51,517,085 $1,548,708 -- 91 CITY OF CARLSBAD DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 ~~~~ ~ Library Bonds REVENUES Taxes Interest income TOTAL REVENUES EXPENDITURES Cur rent : Debt service: General govermnt Principal retirement Interest and fiscal charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Operating transfers in Operating transfers (out) TOTAL OTHER FINANCING SWRCES (USES) Actual on Budgetary Basis $30,891 152 31.043 15,000 4.728 19.728 11.315 Budget f21,OOO 1 .ooo 22,000 15,000 4.950 19.950 2.050 Va r i ance Favorable lUnf avorabl el $9,891 (8481 9,043 222 222 9.265 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $11,315 f 2,050 $9.265 Continued on next page 92 I I 1 1 1 I 1 I 1 I D 1 1 I I D 1 Sewer Bonds Parking Authority Actual on Var i ante Actual on Variance Budgetary Favorable Budgetary Favorable Basis Budget {Unfavorable) Basis Budqet {Unfavorable) $105,398 $120,000 f(14,602) t -f s 5,650 5,000 650 85.357 85.357 - 111.048 125.000 (13.952) 85.357 85,357 100,000 100,000 21.535 22,555 1.020 121,535 122,555 1,020 ( 10.487) 2,445 (12.932) f(10.487) f 2.445 f(12.932) -- 3,851 3,851 125,000 125,000 168.651 168.651 297.502 - 297.502 1212.145) (212.145) - 174,000 174,000 174.000 174.000 f(38.145) f(38.145) f - Continued on next page 93 CITY OF CARLSBAD DEBT SERVICE FUNDS COnBINING STATEMENT OF REVENUES AND EXPENDITURES BUDGET AN0 ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Building Authority REVENUES Taxes Interest income TOTAL REVENUES EXPENDITURES Current: . Debt service: General goverwnt Principal retirement Interest and fiscal charges 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 Actual on Budgetary Basis t- 6,207 6,207 563 25,000 10.950 36.513 (30.306) 36,000 36.000 Variance Favorable Budget JUnfavorable) f- f- 6.207 6.207 563 25,000 10.950 36.513 (30.306) 36,000 36.000 S 5,694 t 5,694 f Continued on next page 94 I I I- 1 I B I 1 I I I i 1 I I I I I I I I I I I I I I 1 I I i I I I I I I I Totals 1987 Actual on Budgetary Basis $136,289 97.366 233.655 4,414 265,000 205.864 475.278 1241.623) 210,000 21 0.000 S(31.623) Budqet s141,ooo 97.564 238.564 4,414 265,000 207,106 476.520 1237.956) 210,000 21 0.000 S(27.956) Var i axe Favorable JUnf avorabl e> S(4,711) (198) (4.909) 1,242 1.242 (3.667) S(3.667) 95 CITY OF CARLSBAD DEBT SERVICE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 'I Library Bonds R EVE NUE S Taxes Interest income TOTAL REVENUES EXPENDITURES Debt service: Pr i nc i pa 1 ret i r ement Interest and fiscal charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES Actual $30,891 152 31,043 15,000 4.728 19.728 $11,315 Adjustment Actual on to Budgetary Budgetary Basis Basis S - $30,891 152 31,043 15,000 4.728 19.728 0 - .$11,315 96 Variance Favorable Budget <Unfavorable) $21,000 $9,891 1 .ooo (848) 22.000 9.043 15,000 4,950 222 19.950 222 S 2,050 $9.265 I I I I I I, 1 I I I I I I I I I I 1 I CITY OF CARLSBAD DEBT SERVICE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Sewer Bonds REVENUES Taxes Interest income TOTAL REVENUES Actual $1 05,398 5.650 111.048 Adjustment Actual on Var i ance to Budgetary Budgetary Favorable Basis Basis Budget JUnfavorablel t - $105,398 t120,OOO t(14,602) 5.650 5,000 65 0 - 111,048 125,000 ( 13.952) EXPENDITURES Debt service: Principal retirement 100,000 - 100,000 100,000 Interest and fiscal charges 21,535 21.535 22.555 1,020 TOTAL EXPENDITURES 121,535 - 121.535 122.555 1.020 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SWRCES OVER EXPENDITURES AND OTHER FINANCING USES L( 10,487) t - L(10.487) f 2,445 L(12.932) -- -- 97 CITY OF CARLSBAD DEBT SERVICE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Parkinq Authority REVENUES Interest income TOTAL REVENUES EXPEND I TURES Current: Debt service: General govermnt 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 AND OTHER FINANCING USES Adjustment Actual on to Budgetary Budgetary Actual Basis Basis s 85.357 t - 85.357 - 3,851 125,000 168,651 297.502 - 1212.145) - 174,000 174.000 - t 85,357 85.357 3,851 125,000 168.651 297.502 121 2,145) 174,000 174.000 t(38.145) Budset t 85.357 85,357 3,851 125,000 168.651 297.502 1212.145) 174.000 174,000 S(38.145) Variance Favor ab1 e (Unfavorable) f t 1 I 1 I I II i t I 1 I I I I 1 I I I I I i I I I I I 1 I I I 1 I I I I I I 1 CITY OF CARLSBAD DEBT SERVICE FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Buildinq Authority Adjustment Actual on Va r i ance to Budgetary Budgetary Favor ab1 e Actual Basis Basis Budget {Unfavorable) REVENUES Interest income TOTAL REVENUES EXPENDITURES Current: Debt service: General government Principal retirement Interest and fiscal charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SWRCES Operating transfers in TOTAL OTHER FINANCING SOURCES EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES f 6.207 f - f 6.207 f 6,207 f- 6.207 - 6,207 6.207 563 563 563 25,000 25,000 25,000 10.950 10,950 10.950 36.513 - 36.513 36.513 - 130.306) J30.306) {30.306) 36.000 36.000 36,000 36.000 36.000 36.000 S 5.694 f - 0 5,691 f 5.694 i 99 f- ita1 Construction ~ T6 account for transfers from the GeneraTFund for vanous iiSicipa7 capital projeds. Public Facllltles Con- .. . To account for receipts of fees charged to developers for specific capital projects necessitated by growth. park Developmen! To account for receipts of fees charged to developers for park acquisition and development. JiQamw To account for receipts and expenditures made to purchase Hosp Grove. Bridae and ThorQUQh fare To account for receipt of fees charged to developers in the Bridge and Thoroughfare district. Planned I oca1 0 ra in= Fac ilities To account for receipts of fees charged to developers for drainage facilities necessitated by growth. J3edeveloD~ Pr0.U To account for financial resources segregated for the rehabilitation of commercial and public property located with the Carlsbad Village area. Jraff ic Imoa To account for receipts of fees charged to developers for street construction and improvement. 101 I I CITY OF CARLSBAD CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR JUNE 30, 1986 1 I ~ __ Public- ~ Park Capital Facilities Construction Construction Development ASSETS Cash and investments Accounts receivable Accrued interest receivable Due from other funds Advances to other funds Prepaid expenses $ 128,610 1,271 197 , 925 6,760,620 - - $8,106,701 $2,795,214 77,316 27 I 007 TOTAL ASSETS $7,088,426 $8 , 184 , 017 $2 , 822,221 LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable Accrued wages payable Due to other funds Advances from other funds Accrued interest payable Short term note payable $ 135,331 $ 13,899 - - TOTAL LIABILITIES 48,187 135.331 13,899 FUND BALANCES (DEFICIT) Reserved for prepaid expenses Reserved for debt service Reserved for advances to Reserved for encumbrances Unreserved: Designated for approved Undesignated other funds capital projects 6,760,620 175,991 - - 718,041 450,866 6,954 , 118 2,357 , 456 376,527 - - 103,628 TOTAL FUND BALANCES (DEFICIT) 7,040,239 8,048,686 2,808,322 TOTAL LIABILITIES AND FUND BALANCES $7,088,426 $8,184 , 017 $2 , 822,221 I I I Continued on next page 102 I I I I I 1 1 I I I I B I I 1 I I I ~ ~~~ Planned Local Drainage Facilities Bridge and Thorouqhfare Traffic ImDact Redevelopment Proi ect Hosp Grove $6,496,548 - - - - - $1,023,622 19,186 9,891 - $1,711,525 16,537 - - - - $ 931,212 13 , 100 - - - - $3,811,897 6,664 36,832 - - - $1,052,699 $6,496,548 $1,728,062 $ 944,312 $3,855,393 $ -$ 870 - 16,166 - - 67,302 - - 4,119,200 $ - - - - - 9,637 130,623 850,000 - $ - - $ - 6 , 496,548 37 , 164 6,459.384 12,993,096 - - 4,203,538 990,260 - 1,368,834 - 179,446 1,482,473 1,382,660 - - (6,496,548) - 14,807,506) - 1,052,699 1,728,062 (3,259,226) (6,496,548) 1,052,699 1,728,062 2,865,133 $3,855,393 on next page $1,052,699 $ 944,312 $6,496,548 $1,728,062 Continued 103 CITY OF CARLSBAD CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR JUNE 30, 1986 ASSETS Cash and investments Accounts receivable Accrued interest receivable Due from other funds Advances to other funds Prepaid expenses Totals 1987 1986 $25,005,329 $22,735,788 181,954 116,217 197 , 925 67,302 2 , 097 , 827 6,650 25,850 - 6,760,620 - TOTAL ASSETS LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable Accrued wages payable Due to other funds Advances from other funds Accrued interest payable Short term note payable TOTAL LIABI LIT1 ES FUND BALANCES (DEFICIT) Reserved for prepaid expenses Reserved for debt service Reserved for advances to Reserved for encumbrances Unreserved: Designated for approved Undesignated other funds capital projects TOTAL FUND BALANCES (DEFICIT) TOTAL LIABILITIES AND FUND BALANCES $32 , 171,678 $25,023,784 $ 207,924 16 , 166 197 , 925 11,465,748 37 , 164 6,459,384 18,384,311 $ 1,081,669 13 , 604 67 , 423 3 , 467 , 445 - 4,630,141 6,650 1,368,834 626,689 - 6,760,620 2 , 097,827 3 , 006 , 817 6,953 , 781 10,694,234 4 , 164 , 591 (8,043,138) 6,544,105 13,787,367 20,393,643 $32 , 171,678 $25,023,784 104 I I I I I I I I I I I I I I I I I I a I I I I I 105 CITY OF CARLSBAD CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES WXTfI COMPARAT€VE FIGURES FOR THE YEAR-ENDED JUNE 3-0. 1986- ~~~ FOR THE YEAS ENDED JUNE 30, 1987 REVENUES Taxes Charges for services Interest income TOTAL REVENUES EXPENDITURES Current: Capital outlay Debt service: charges General government Interest and fiscal TOTAL EXPENDITURES Capital Construction - $ 413 , 250 222,904 636,154 - 2 , 767,837 2,767,837 EXCESS (DEFICIENCY) OF REVENUES OTHER FINANCING SOURCES (USES) OVER EXPENDITURES (2,131,683) Operating transfers in - Operating transfers (out) J1,043,000) SOURCES (USES) (1,043,000) TOTAL OTHER FINANCING EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES (3,174,683) FUND BALANCES (DEFICIT) RESIDUAL EQUITY TRANSFERS IN - RESIDUAL EQUITY TRANSFERS (OUT) - AT BEGINNING OF YEAR 10,214 , 922 FUND BALANCES (DEFICIT) AT END OF YEAR $7,040,239 Public Facilities Park Construction Development $ -$ - 5,201,451 748,825 593,353 201,577 5,794,804 950,402 1,684 - 6,456,561 790,298 6,458,245 790.298 (663,441) 160,104 - 68,395 (42,000) - 26,395 - (663,441) 186,499 $8,048,686 $2,808,322 Continued on next page 106 I I 1 I I I I I i I I I I I 1 I I I I Planned Local Drainage Redevelopment Facilities Proi ect Bridge and Thoroushfare - $ 991,707 60,992 Traffic ImDact - $ 1,853 , 029 161,244 Hosp Grove - - $ - $ 664,103 - $ 329,628 122,205 81,813 1,052,699 745,916 2,014,273 451,833 150 243,417 - 6,459,384 - 1,121,082 - 49,421 351,754 1,472,836 37,164 6,496,548 243,567 49,421 (726,920) - - (6,496,548) 1,052,699 1,770,706 402,412 1,043 , 000 - ~ 1,043,000 (6,496,548) 1 , 052 , 699 402,412 (726,920) 2,813,706 1,325,650 - - (2,532 , 306) - - 51,427 - - $1,052 , 699 $1,728,062 $(3,259,226) Continued $2 , 865,133 on next page $ (6 , 496,548) 1 107 CITY OF CARLSBAD CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30, 1986 Totals 1987 1986 REVENUES Taxes Charges for sewices Interest income TOTAL REVENUES EXPENDITURES Current: Capital outlay Debt service: charges General government Interest and fiscal TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Operating transfers in Operating transfers (out) SOURCES (USES) TOTAL OTHER FINANCING EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES FUND BALANCES (DEFICIT) RESIDUAL EQUITY TRANSFERS IN RESIDUAL EQUITY TRANSFERS (OUT) FUND BALANCES (DEFICIT) AT BEGINNING OF YEAR AT END OF YEAR $ 664,103 9 , 537 , 890 1,444,088 11,646,081 1,834 17 , 888 , 000 (6,632,671) 1,111,395 (1,085,000) 26,395 (6,606,276) 20,393 , 643 - $13,787,367 108 $ 301,947 6,477,443 1,254,962 8,034,352 - 8,879,866 236,255 9,116,121 (1,081,769) 3 , 038,299 (156,000) 2,882,299 1,800,530 18 , 645,671 - (52,558) $20,393,643 I I I I I I I I I I I I I I I I I I I I 8 1 09 CITY OF CARLSBAD CAPITAL PROJECTS FUNDS COnBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Capital Construction- Actual on Variance Budgetary Favorable Basis Budget {Unfavorable) REVENUES Taxes f -f -s Intergovermntal Charges for services 413,250 413,250 Interest income 222.904 222.904 TOTAL REVENUES 636.154 636,154 EXPENDITURES Current: Generai government . Capital out lay 2,943,828 3,934,687 990,859 Debt service: Interest and fiscal charges TOTAL EXPENDITURES 2.943.828 3.934.687 990.859 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (2.307.674) (3.934.6871 1.627.013 Operating transfers in Operating transfers (out) (1.043.000) (1,043.0001 OTHER FINANCING SOURCES (USES) TOTAL OTHER FINANCING SOURCES (USES) (1.043.000) (1.043.000) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES f(3.350.674) f(4.977.687) f1.627.013 Continued on next page 110 I I 1 1 1 I I D I D I I I 1 I 1 1 I I Public Facilities Construction Actual on Variance Budget ary Favorable Basis Budset (Unfavorable) S -t -f 5,201,451 3,344,000 1,857,451 593,353 593,353 5.794.804 3.344.000 2.450.804 1,684 1,684 7,174,602 14,128,720 6,954,118 7.176.286 11.130.404 6,954.118 (1.381.482) (10,786,404) 9,404.922 ParkDevel o6nt Actual on Variance Budgetary Favorable Basis Budqet {Unfavorable) s -s -f 748,825 882,000 (133,175) 201.577 - 201.577 950.402 882. ooo 68,402 1,241,164 4,207,456 2,966,292 1.241.164 4.207.456 2.966.292 (290.7621 (3.325.456) 3.034.694 68,395 68,395 (42 .OOO) (42,000) 26,395 26,395 S(1.381.482) f(10.786.404) $9,404,922 S(264.3671 S(3.299.061) $3,034,694 Continued on next page 111 CITY OF CARLSBAD CAPITAL PROJECTS FUNDS COWBININC STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 ~~ ~ HOSD Grove Actual on Budgetary Basis Budget REVENUES Taxes s -s Intergovernmental Charges for services Interest incm TOTAL REVENUES EXPENDITURES Current: Capital outlay 6,459,384 6,459,384 Debt service: General government Interest and fiscal charges 37.164 TOTAL EXPENDITURES 6.496.548 6.459.384 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (6,496.548) (6,459.384) Operating transfers in Operating transfers (out) OTHER FINANCING SOURCES (USES) TOTAL OTHER FINANCING SWRCES (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES f(6.496.548) f(6.459.384) Variance Favorable (Unfavorable) s (37,164) (37,164) (37.164) f(37.164) Continued on next page I I I 1 I I I I I I 1 I I 1 I 1 1 I ~ ~- ~~ ~ ~____~ - Bridge and Thoroughfare Planned Local Drainage Facilities Var i ance Actual on Variance Actual on Budgetary Favorable Budgetary Favorable Basis Budqet {Unfavorable1 Basis Budget {Unfavorable) f -f -t f f -f 991,707 130,000 861,707 329,628 400,000 (70,372) 60.992 - 60,992 122.205 - 122,205 1.052.699 130.000 922,699 1.052.699 130.000 922.699 451 .a33 400.000 51.833 49,421 49,421 49.421 49.421 - 402,412 350.579 51.833 $350,579 f 51,833 -- $1,052,699 $130,000 $922,699 $402,412 Continued on next page 113 CITY OF CARLSBAD CAPITAL PROJECTS FUNDS CCMBINING STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 ~ ~~~~ Redeveiounent Project Actual on Variance Budgetary Favorable Basis Budget JUnfavorable) REVENUES Taxes f 664,103 f 480,000 f 184,103 Intergoverwntal - 2,500,000 (2,500,000) Charges for services Interest income 81.813 60.732 21.081 TOTAL REVENUES 745,916 3,040,732 (2,294,816) EXPENDITURES Current: Capital outlay 1,300,528 3,598,391 2,297,863 Debt service: Generai goverwnt Interest and fiscal charges 351.754 (351.754) TOTAL EXPENDITURES 1,652,282 3.598,391 1.946.109 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (906.366) (557.659) (348.707) Operating transfers in Operating transfers (out) (300,000) 300,000 OTHER FINANCING SOURCES (USES) TOTAL OTHER FINANCING SOURCES (USES) (300 000 1 300,000 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES f(906.366) f (857,659) f (48.707) Continued on next page 114 __ I -I I 1 I I D 1 I 1 B 1 I 1 I i 1 I 1 1 I 1 1 I B I I I I 1 1 1 I 1 I 1 1 Traffic Imct Actual on Var i arue Budgetary Favorable Basis Budget (Unfavorable1 s -t -f 1,853,029 320,500 1,532,529 161.244 161,244 2.014.273 320.500 1.693.773 150 150 1,725,890 3,399,000 1,673,110 1.726.040 3,399,150 1.673.110 288,233 (3,078,6502 3,366.883 1,043,000 1,043,000 1,043.000 1.043.000 Actual on Variance Budget a ry Favorable Basis Budqet lUnfavorable1 f 664,103 f 480,000 S 184,103 9,537,890 5,076,500 4,461,390 1.444.088 60.732 1.383.356 - 2,500,000 (2,500,000) 11.646.081 8.117.232 3,528.849 1,834 1,834 20,894,817 35,777,059 14,882,242 388,918 (388.91 8) 21.285.569 35.778.893 14.493.324 (9.639.4881 (27.661.661) 18.022.173 1,111,395 1,111,395 (1,085,000) (1.385.000) 300,000 26,395 (273.605 300.000 $1,331,233 t(2,035,650> $3.366.883 S(9.613.093) t(27.935.266) $18,322,173 115 CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 CaDital Construction ~ REVENUES Charges for services Interest incomc TOTAL REVENUES EXPENDITURES Capital outlay TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDIUTRES OTHER FINANCING (USES) Operating transfers TOTAL OTHER FINANCING (out) (USES) ~ ~ ~~ --~ Adjustment Actual on Variance to Budgetary Budgetary Favorable Actual Basis Basis Budget pf avorablel f 413,250 f - f 413,250 S - t 413,250 222.904 222,904 222,904 636,154 636.154 636,154 2,767,837 175.991 2,943.828 3.934.687 990,859 2.767.837 175.991 2.943.82a 3.934.687 990,859 (2.131.683) (175.991) (2.307.674) (3,934.6871 1.627.013 (1.043.000) - (1.043.000) (1,043.0001 (1.043,OOO) - (1.043.000) (1.043.0002 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SWRCES OVER EXPENDITURES AND OTHER FINANCING USES L(3.174.683) t(175.991) t(3.350.674) f(4.977.687) t1.627.013 116 I 1 1 I 1 I 1 1 1 1 I 1 I I I I I I 1 CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Public Facilities Construction ~~ ~ Adjustment Actual on Variance to Budgetary Budgetary Favorable Actual Basis Basis Budget JUnfavorablel REVENUES Charges for services $5,201,451 S - S 5,201,451 S 3,344,000 S1,857,451 Interest income 593.353 593.353 - 593.353 TOTAL REVENUES 5,794,804 - 5.794.804 3,346,000 2.450.804 EXPENDITURES Current: Capital outlay 6.456.561 718,041 7,174.602 14.128.720 6.954.1 18 General government 1,684 1,684 1,684 TOTAL EXPENDITURES 6.458.245 718.041 7.176.286 14.130.404 6.954.118 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES S (663,441) S(718.041) S(1.381.482) S(10.786.404) $9,404,922 117 CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Park Develomnt Actual REVENUES Charges for services 5748,825 Interest income 201.577 TOTAL REVENUES 950.402 EXPENDITURES Capital outlay 790,298 TOTAL EXPENDITURES 790,298 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 160.104 OTHER FINANCING SOURCES (USES) Operating transfers in 68,395 Operating transfers (out 1 (42.000) TOTAL OTHER FINANCING SOURCES (USES) 26.395 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES 5186.499 Adjustment Actual on Variance to Budgetary Budgetary Favorable Basis Basis Budqet junfavorablel - S 748,825 S 882,000 f (133,175) s 201,577 201,577 950.402 882.000 68.402 450.866 1.241.164 4.207.456 2.966.292 450.866 1.241.164 4.207.456 2.966.292 (450,866) (290.762) (3,325.456) 3,034.694 68,395 68,395 (42.000) (42.000) 26,395 26,395 S(450.866) S(264.367) f(3,299.061) $3,034,694 1 I 118 1 I I I I I I I I I I I I I I I I I 1 CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Hosp Grove Actual EXPENDITURES Capital outlay t 6,459,384 Debt service: Interest and fiscal charges 37.164 TOTAL EXPENDITURES 6.496.548 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES S(6.496.548) Adjustment Actual on To Budgetary Budgetary Basis Basis Budqet f - f 6,459,384 t 6,459,384 37,164 - 6.496.548 6.459.384 f - f(6.496.548) S(6.459.3841 Var i awe Favorable {Unfavorable) s (37.164) (37.164) S(37.164) CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Bridge and Thorouqhfare Actual REVENUES Charges for services f 991,707 Interest income 60.992 TOTAL REVENUES 1.052.699 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $1 ,052,699 Adjustment Actual on to Budgetary Budgetary Basis Basis t - t 991,707 60.992 - 1.052.699 t - 51.052.699 119 Var i ante Favorable Budget (Unfavorable) S130,OOD $861,707 60.992 130.000 922.699 S130.000 $922,699 CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 Planned Local ~ ~ ~~ Drainage faeitit ies -- Adjustment Actual on . Variance to Budgetary Budgetary Favorable Actual Basis Basis Budget <Unfavorable> REVENUES Charges for services Interest income TOTAL REVENUES EXPENDITURES Capital outlay TOTAL EXPENDITURES $329,628 S - $329,628 S400,OOO t(70.372) 122.205 - 122,205 - 122.205 451.833 - 451,833 400,000 51 .833 49.421 - 49.421 49.421 - 49.421 - 49.421 49.421 - EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SWRCES OVER EXPENDITURES AND OTHER FINANCING USES u02.412 t - S402.412 $350,579 f 51,833 -- 120 I I 1- I I I I I I I I I I 1 I I I i I CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30. 1987 Redevetomtent Project REVENUES Taxes lntergoverrmental Interest income TOTAL REVENUES EXPENDITURES Capital out lay Debt service: Interest and fiscal charges TOTAL EXPENDITURES EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING (USES) Operating transfers TOTAL OTHER FINANCING (out) (USES) EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES Adjustment to Budgetary Actual Basis S 664,103 t 81.813 745,916 1,121,082 179,446 351.754 1,472,836 179,446 (726.920) ( 179.446) Actual on Variance Budgetary Favorable Basis Budget XUnfavorablel t 664,103 t 4a0,ooo t 184,103 ai ,813 60.732 21. 081 - 2,500,000 (2,500,000) 745,916 3,040, 732 ( 2,294,8161 351,754 (351.754) 1.652.282 3,598,391 1.946.109 (348.707) (906.366) (557.659) (300.000) 300,000 (300,000) 300,000 CITY OF CARLSBAD CAPITAL PROJECTS FUND TYPES STATEMENT OF REVENUES AND EXPENDITURES - BUDGET AND ACTUAL (BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 1987 ~ ~ ~~ Traffic Impact Adjustment Actual on Variance to Budgetary Budgetary Favorable Actual Basis Basis Budget IUnfavorable1 REVENUES Charges for services $1,853,029 $ - $1,853,029 f 320,500 $1,532,529 161.244 161.244 161.244 Interest income TOTAL REVENUES $2.014.273 - 2.014.273 320,500 1,693,773 EXPENDITURES Cur rent : Capital outlay 243.417 1,482.473 1,725,890 3,399.000 1,673,110 General government 150 150 150 TOTAL EXPENDITURES 243.567 1.482.473 1.726.040 3,399,150 1,673.110 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 1.770.706 (1.482,473) 288,233 (3.078.6501 3.366.883 OTHER FINANCING SOURCES Operating transfers TOTAL OTHER FINANCING in 1.043.000 - 1.043.000 1,043.000 SOURCES 1,043.000 - 1,043.000 1 .043.000 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES $2,813,706 S( 1,482,4731 $1,331,233 $(2,035,650) $3,366,883 122 I I -I I 1 I I I I I I I 1 I I I I I I TEPRISF FUNP .. I I 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. I Sewer To account for the operation and maintenance of the City’s sewer system. 1 1 I I 1 I I I I I 1 1 123 CITY OF CARLSBAD ENTERPRISE FUNDS CMBINING BALANCE SHEET JUNE 30, 1987 WITH COHPARATIVE FIGURES FOR JUNE 30, 1986 ASSETS Cash and investments Receivables: Accounts Accrued interest Due from other funds Advances to other funds Inventory, at cost TOTAL CURRENT ASSETS RESTRICTED ASSETS Cash and investments Accrued interest TOTAL RESTRICTED ASSETS INVESTMENT IN SEWAGE TREATMENT FACl L ITY Uater Uti l i ty s (3,793) 1,381,132 11,360 152.926 1,541,625 4,052,206 37.348 4,089.554 PROPERTY, PLANT AND EOUIPMENT Land and water rights Bui (dings Structures and inprovements Uells, reservoirs, and dams Transmission and distribution Sewers, sewer lines and wells Filters and punps Equipment and vehicles Fire protection service Construction in progress lines TOTAL PROPERTY, PLANT AND EQUIPMENT LESS ACCUMULATED DEPRECIATION NET PROPERTY, PLANT AND EQUIPMENT TOTAL ASSETS 231,956 37,188 1,289,152 4,068,674 4,684 201,551 5,759 5,838,964 (2,126.123) 3,712,841 $9,344,020 ~~ Seuer t 8,596,807 8,381 96,198 76,094 1,368,032 11,887 10,157.399 16.724.104 227,250 37,948 5,530,669 473,307 2,720.908 8,990,082 (1.919.205) 7,070,877 533.952.380 Totals 1987 1986 f 8,593,014 f11,565,014 1,389,s 13 1 ,291,181 96,198 90,679 87,454 71,435 164,813 149.892 1,368,032 11,699.024 13.168.201 4,052,206 552,931 37.348 4.590 4.089.554 557.521 16.724.104 16.440.927 459,206 459,206 37,188 37,188 37,948 37,948 1,289,152 1,289,152 4,068,674 4,068,674 5,530,669 5,090,446 674,858 653 , 908 2,720.908 2,657.916 4,684 4,684 5,759 5,759 14,829,046 14,304,881 (4.045.328) (3.795.557) 10.783.718 10.509.324 543,296.400 $40,675,973 I 1 I I I I I I I I I I I I I I I a 124 LIABILITIES Water Uti 1 ity CURRENT LIABILITIES (payable Accounts payable S 859,044 Accrued wages 26,097 Deposits payable 38,794 Due to other funds 76.094 TOTAL CURRENT LIABILITIES (payable from current assets) 1.000.029 from current assets) CURRENT Ll AB1 1 IT IES (payable from restricted assets) Accrwd interest 17,283 Current portion of revenue bonds payable 150.000 TOTAL CURRENT LIABILITIES (payable from restricted assets) 167.283 TOTAL CURRENT LIABILITIES 1,167,312 LONG-TERM LIABILITIES Revenue bonds payable net of un- amortized discount of $3.702 in 1987 (S4,936 in 1986) Deferred revenue TOTAL LIABILITIES FUND EQUITY Contrihted capital Retained earnings: Reserved for construction Reserved for debt service Reserved for advances Unreserved: to other funds Designated for approved Undes i gnat ed capital projects TOTAL RETAINED EARNINGS TOTAL FUND EQUITY TOTAL LIABILITIES AND FUND EQUITY Totals 1987 1986 f 35,544 f 894,588 f 1,277,659 14,494 40,591 34,781 38,794 40,822 11.360 87.454 71.774 61.398 1.061.427 1,425,036 17,283 21,265 150,000 140.000 167.283 161,265 61,398 1,228,710 1,586,301 478,298 478,298 627,064 2.070.778 2,070,778 2,308.777 1,645,610 2.132.176 3.777.786 4.522.142 2.425.080 28.972.235 31,397.315 22.256.433 445,851 911,291 445,851 445,851 911,291 911,291 1,368,032 1,368,032 3,916,188 1,479,937 5,396,125 2,221,387 - 10,318,869 5,273.330 2.847.969 8.121.299 13.897.398 7.698,410 31.820.204 39.518.614 36,153.831 $9,344,020 $33,952,380 $43,296.400 $40.675.973 125 CITY OF CARLSBAD 1 ENTERPRISE FUNDS COMBINING STATEHENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED JUNE 30, 1987 WITH COHPARATIM FIGURES FOR THE YEAR ENDED JUNE 30. 1986 _- ~- -- Totals Water Uti L i ty OPERATING REVENUES Metered nater sales ,$1,007,568 Sewer service charges Other charges for services 235,126 Reimbursed expenditures Miscellaneous revenue (expense) 458 TOTAL OPERATING REVENUES OPERATING EXPENSES Personnel services Off ice expenses Repairs and maintenance Professional services Insurance Purchased water Bad debt expense Depreciation and amortization TOTAL OPERATING EXPENSES OPERATING INCOME (LOSS) WON-OPERATING REVENUES lnterest income NOW-OPERATING EXPENSES Interest expense and fiscal Loss on sale of property agent fees TOTAL NOW-OPERATING EXPENSES WON-OPERATING INCWE (LOSS) NET lNCOElE RETAINED EARNINGS, AT BEGINNING OF YEAR PRIOR PERlOO ADJUSTMENT RETAINED EARNINGS, AT BEGINNING OF YEAR, AS ADJUSTED RETAINED EARNINGS, AT END OF YEAR 1.243.152 526,336 91,666 167,974 8,971 5,417 4,191 6,667 122.146 933 * 368 309.784 289.801 37,299 Seuer s 1,747,6?7 25,310 782 5.000 1 778.769 397,404 5,633 222.1a8 1,035,253 9,110 15,289 139,697 1,824,871 (46.105) 679.560 37.299 252.502 562,286 I, 71 1,044 4,711.044 $5,273,330 679,560 633.455 9,186,354 (6,971.840) 2.214.514 32,847,969 126 1987 1 986 $1,007,568 3 930,107 1'747,677 1,607,828 260,436 336,238 782 8,380 5.458 (88) 3.021.921 2.882.46s 923,740 97,299 390,162 1,044 , 224 14,827 4,191 21,956 261,843 878,573 66,256 336,055 823,192 11,850 4,090 ( 10,878) 265,097 2.758.242 2.374.23s 263,679 508.230 969.361 953,635 37,299 42,531 360.391 37.299 L02.922 932.062 550.713 1,195.741 1,058,943 13,897,398 10,139,192 36.971.840) 2.699.263 6.925.558 12,838,455 1 I 1 1 E I I I 1 I 1 1 I I I I I I I I I I I I I I I I I I IC I 4 I 1 CITY OF CARLSBAD ENTERPRISE FUNDS CWBINING STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30. 1986 Uater Totals Utility - Seuer 1987 1986 SOURCES OF WORKING CAPITAL Opera t i ons : Net income $ 562,286 t 633,455 Itens not requiring working capital : Depreciation and amortization 122,146 139,697 Loss on sale of property Working capital provided by Contributions from other funds opera t ions TOTAL SOURCES OF WORKING CAPITAL USES OF WRKING CAPITAL Acquisition of property, plant, Decrease in long-term revenue Reduction of deferred revenue Net increase in restricted and equipnent bonds payable assets and related liabilities TOTAL USES OF WORKING CAPITAL NET INCREASE (DECREASE) IN WORKING CAPITAL 684,432 773,152 - 1.885.865 684,432 2,659,017 9,044 525,959 1 50,000 - 237,999 3.526.015 3.685.059 763.958 S(3.000.627) $1,895,059 ELEMENTS OF NET INCREASE (DECREASE) IN UNRESTRICTED WORKING CAPITAL Cash and investments 5(3,505,705) $ 533,705 Accrued interest receivable (23,649) 29,168 Due from other funds 11,360 4,659 Inventory 17,708 (2,787) Prepaid expenses Advances to other funds - 1,368,032 Accounts payable 407,334 (24,263) Accrued uages payable (3,568) (2,242) Due to other funds (4,465) (11,214) Deposits payable 2.027 Accounts receivable 98,331 1 NET INCREASE (DECREASE) IN WORKING CAPITAL $(3,000,627) $1,805,059 127 t 1,195,741 31,058,943 261,843 265,097 360,391 1,457,584 1,684,431 1.885.865 2.544.325 3.343.449 4,228.756 535,003 623,157 150,000 140,000 237,999 146,001 3.526,015 39.734 4.449.01 7 948.892 t(1.105.568) $3.279.864 5(2,972,000) 98,332 5,519 16,019 14,921 1,368,032 383,071 (5,810) ( 15,679) 2.027 t4,134,833 78,808 90,679 8,419 24,675 (5,320) (1,054,205) (9,073) (8,758) 19.806 S(1.105.568) 53,279.864 I I I I I I I I I I P I I I I I I I INTERNALSER VI CEFU N DS Workers’ ComQe.n$ation To account for charges to other funds to insure against Workers’4ompensa:ion claims. General lJ&ility Self-Insurance To account for charges to other funds to insure against liability claims against the City. Central Gar= To account for charges to other funds to provide fleet maintenance and replacement. Health Insurance To account for charges to other funds and from employees to provide health insurance for full-time City employees. Data Process i ng To account for charges to other funds for data processing services. 129 _. -- - I I -I I I I I I I I I I I I I I I I I CITY OF CARLSBAD INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET JUNE 30, 1987 WITH COMPARATIVE TOTALS FOR JUNE 30, 1986 General ~ Liability Workers' Self Compensation Insurance ~ ~~~ Central Garase ASSETS CURRENT ASSETS Cash and investments Accrued interest receivable Accounts receivable Due from other funds $1,555,168 15,052 - - $2,132,114 17,671 - - $ 2,043 - - 2,043 TOTAL CURRENT ASSETS 1,570,220 2,149,785 PROPERTY AND EQUIPMENT Machinery and equipment Less accumulated depreciation 1,754,739 (856.942) NET PROPERTY AND EQUIPMENT 897,797 TOTAL ASSETS $1,570,220 $2,149,785 $ 899,840 LIABILITIES AND FUND EQUITY CURRENT LIABILITIES Accounts payable Accrued wages payable Due to other funds Estimated claims payable 1,000 - $ - 214,977 215,977 215,977 6,931 - $ - 1,161,500 $ 50,524 22,695 124,632 - TOTAL CURRENT LIABILITIES 1.168.431 197,851 197,851 TOTAL LIABILITIES 1,168,431 CONTRIBUTED CAPITAL Contributed from other funds 500,000 850,000 780,977 RETAINED EARNINGS (DEFICIT) Unreserved 854,243 131,354 (78,988) (78,988) 701,989 $ 899,840 next page TOTAL RETAINED EARNINGS (DEFICIT) 854,243 131,354 TOTAL FUND EQUITY 1,354,243 981,354 TOTAL LIABILITIES AND FUND EQUITY $1,570,220 $2,149,785 Continued on 130 I I I I D I I I I I I I I I I 1 1 I 1 Health Insurance Data Processing Totals 1987 1986 $207,197 2 , 002 485 - $138 , 474 1,345 $4,032 , 953 38,113 485 - $2,973,650 24 , 233 248 2,165 209,684 139,819 4,071,551 3,000,296 271,992 (21,906) 2 , 026,731 (878,848) 1,626 , 199 (804,796) 250,086 1,147,883 821,403 $209,684 $389 , 905 $5,219,434 $3,821,699 $ 27,187 4,951 - - $ 85,642 27 , 646 124 , 632 1,376,477 $ 55,381 16,798 153 910,597 32,138 32,138 1,614,397 982,929 1,614,397 982,929 85,862 2,216,839 2,190,977 209,684 209,684 209,684 $209,684 271,905 271,905 1,388,198 647,793 1,388,198 647,793 357,767 3,605,037 2,838,770 $389,905 $5,219,434 $3,821,699 131 CITY OF CARLSBAD INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS FOR THE YEAR ENDED JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30, 1986 OPERATING REVENUE Charges for services Reimbursed expenditures Miscellaneous revenue TOTAL OPERATING REVENUE OPERATING EXPENSES Personnel services office expense Repairs and maintenance Professional services Depreciation Fuel Supplies and parts Claims expense TOTAL OPERATING EXPENSES OPERATING INCOME (LOSS) NON-OPERATING REVENUES Interest income Gain on sale of property TOTAL NON-OPERATING REVENUE NON-OPERATING (EXPENSES) Loss on sale of property TOTAL NON-OPERATING INCOME NET INCOME (LOSS) BEFORE OPERATING Operating transfers in TRANSFERS NET INCOME (LOSS) RETAINED EARNINGS AT BEGINNING OF RETAINED EARNINGS AT END OF YEAR (DEFICIT) YEAR (DEFICIT) General Liability Workers' Self Compensation Insurance - $ 506,846 - - $ 391,656 - 506,846 - - - - - - - 189,456 189,456 317,390 99 , 964 - 99,964 - 99,964 417 , 354 - 417 , 354 436,889 $854 , 243 132 391,656 - - - - - - - 793,900 793,900 (402,244) 127 , 293 - 127,293 - 127,293 (274 , 951) 300,000 25,049 106,305 $131,354 Central Garaqe $828 , 251 1,291 - 829,542 342,923 94 , 967 9,269 167,672 182 , 196 115,087 18,378 - 930,492 (100,950) 13 , 660 - 13 , 660 (12,960) 700 (100,250) - (100,250) 21,262 $(78,988) Continued on next page I I I- 1 i I I I I I I I 1 I I I I I I Health Insurance Data Processinq Totals 1987 1986 - $ 776,462 - - $ 103,632 - $ 828,251 $ 744,075 1,779,887 1,082 , 899 - 46 1 I I I I 776,462 103,632 2,608,138 1,827,020 84 , 650 71,342 - - 21,906 427 , 573 89,720 94 , 967 9,269 189,578 182 , 196 115,087 1,647,356 240,154 10,942 56,852 15,133 140,040 185,697 85,608 971,790 664,000 177,898 2,755,746 1,706,216 (74,266) 112,462 (147,608) 120,804 13 , 885 - 12 , 762 21,306 267,564 210,549 21.306 26,926 13,885 - 34 , 068 288,870 237,475 (12,960) - 13,885 34,068 275,910 237,475 126,347 - (40,198) 312,103 128,302 358,279 612,103 285,000 271,905 740,405 643 , 279 126,347 83.337 $209,684 647,793 4,514 $271,905 $1,388,198 $ 647,793 I I I 133 __ CITY OF CARLSBAD INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR THE YEAR ENDED JUNE 30, 1986 SOURCES OF WORKING CAPITAL Operations: Net income (loss) Items not requiring working capital : Depreciation and amortization Loss (gain) on sale of property Working capital provided by Proceeds from sale Contributions from other funds operations of property TOTAL SOURCES OF WORKING CAPITAL USES OF WORKING CAPITAL Acquisition of property, plant, and equipment TOTAL USES OF WORKING CAPITAL Workers' Compensation $417,354 - 417,354 - - 417,354 NET INCREASE (DECREASE) IN WORKING CAPITAL $417,354 ELEMENTS OF NET INCREASE (DECREASE) IN UNRESTRICTED WORKING CAPITAL Cash and investments $372 , 620 Accounts receivable - Accrued interest receivable 5,071 Due from other funds - Accounts payable (1,000) Accrued wages payable - Due to other funds - Estimated claims payable 40,663 NET INCREASE (DECREASE) IN WORKING CAPITAL $417,354 General Liabi 1 i ty Insurance Garaqe Self Central $ 25,049 $(100,250) - 167,672 12,960 25,049 80,382 17 , 202 - - - - 25,049 97,584 - 274,228 - 274,228 $ 25,049 $1176,644) $526,771 $ (29,160) - (248) 6,709 (106) - (5,897) - - (1,888) (16 , 754) - (124 , 479) 1506,5431 - $ 25,049 $ (176,644) Continued on next page 134 1 I I- 1 I I 1 I I I 1 I I I I I I I I I I 1 I I I 1 I I I I I I I I I I B I Health Data Totals Insurance Processinq 1987 1986 $126,347 $271,905 $ 740,405 $643 , 279 - 21,906 189 , 578 140,040 - (21,306) (8,346) (26,926) ' 126,347 272 , 505 921,637 756,393 - 21,306 38 , 508 - - 25,862 25,862 60,000 126,347 319,673 986,007 816,393 - 271,992 546,220 172,922 - 271,992 546,220 172,922 $126,347 $ 47,681 $ 439,787 $643,471 $110,598 485 861 16,568 (2 ,165) - $ 78,474 1,345 - - (27 , 187) (4 I 951) - - $126,347 $ 47,681 $1,059,303 237 13 , 880 (30 , 261) (10,848) (124 , 479) (465,880) (2 I 165) $ 439,787 135 $1,031,451 2,246 24 , 233 (11,146) - (1,518) (153) (401,642) $643 , 471 AGENCY FUNDS Bferred ComDe nsation Aae ncv Fund To account for amount employees have deposited in deferred compensation plans offered by the City. ~ -~ Contraor's DeDos its Aaencv Fund To account for money deposited by contractors for designated future development. Miscellaneous DeDos' its Aa _encv Fund To account for money deposited with the City for various items. 136 B I I I I I I I I I I 1 I 1 I I 1 I I I I I I I I I I I I I I I I I I I I I CITY OF CARLSBAD AGENCY FUNDS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FOR THE YEAR ENDED JUNE 30, 1987 Deferred Camensation Agency Fund ASSETS Cash. and investments LIABILITIES Deferred compensation payable Contractors' Deposits Agency Fund ASSETS Cash and investments LlABILlTlES Deposits payable Assessment Districts Agency Funds ASSETS Cash and investments Accrued interest TOTAL ASSETS LIABILITIES Accounts payable Deposits payable TOTAL LIABILITIES Miscellaneous Deposits Agency Fund ASSETS Cash and investments Accrued interest Due from other funds Balance July I, 1986 S671,709 $671,709 Ba 1 ance June 30, Additions Deductions 1987 $242,087 f - $913.796 -- $242,087 $ - $913.796 -- $95,000 $104.129 -- $96,129 $105.000 $95.000 $104.129 -- $94,129 $1 05,000 $9,428,067 82,801 $9,710,868 S 53,056 9.657.812 $9,710,868 $2,770,957 9.878 TOTAL ASSETS $2,780,835 LIABILITIES Accounts payable Deposits payable t 303,933 2.476.902 TOTAL LIABILITIES $2,780,835 $6,954,276 $10,477,149 $6,105,194 54.980 82,801 54.980 $7,009,256 '510,559,950 t6.160.174 f 286,449 t 53,056 t 286,449 909.393 4.693.480 5.873.725 $1.195.842 S 4,746,536 56,160,174 t 9,920,479 t10,270,121 $2,421,315 1,470 1,470 9.878 S 9.921.949 $10,279,999 $2,422,785 f 2,624 S 303,933 t 2,624 11,978.889 12,035.630 2.420.161 $1 1,981,513 $12,339,563 52,422,785 137 CITY OF CARLSBAD AGENCY FUNDS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FOR THE YEAR ENDED JUNE 30. 1987 Ba 1 ance July 1, 1986 Ba 1 ance June 30, 1987 Additions Deductions Totals - All Agency Funds ASSETS Cash and investments $13,164,862 S17,221,842 $20,842,270 $9,544,434 Accrued interest 82,801 56,450 82,801 56,450 Due from other funds 9.878 9,878 TOTAL ASSETS $1 3,257,54 1 S 17,278.292 S20,934,949 f9.600,884 LIABILITIES Accounts payable S 356,989 f 289,073 f 356,989 S 289,073 Deposits payable 12,228,843 12,993,282 16,824,110 8,398,015 Deferred compensation payable 671.709 242.087 - 913.796 TOTAL LIABILITIES $13.257.541 $13,524,442 f17.181.099 f9.600.884 138 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 STAT'STICAL INFORMATION 139 I CITY OF CARLSBAD Fiscal m 1977-78 1978-79 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 1986-87 General Expenditures by Function ~ - Last Ten Fiscal Years -___--- ~- -~ - -~~ General Total I1 1 Government $8,755,846 10,216,677 12,176,699 16,407,099 1 8,623,122 15,463,426 16,723,893 22,279,729 36,206,852 49,443,365 $2,19 1,287 2,634,93 1 2,977,618 3,648,090 2,852,858 2,272,174 2,551,209 3,008,056 4,124,793 5,645,325 Public Public Safetv Works $2,407,823 2,634,839 3,027,900 3,407,025 4,888,849 5,285,609 5,813,451 7,020,105 7,851,268 9,452.556 $2.048.980 2,053,091 2,344,302 2,868,460 2,501,925 2,935,279 3,408,568 2,974,480 6,412,310 4,601,389 Culture- Welfare (2) Recreation $544,597 608,009 650,202 727,155 825,236 860,556 1,052,394 1,321,504 $1 , 1 23,954 1,116,580 1,537,289 2,261,888 2,303,143 2,573,014 2,764,121 3,278,290 3,710,505 4,530,701 Capital Proiects $ 839,505 1,636,171 1,596,829 3,469,027 4,996,323 1,233,048 1,003,261 4,619,242 12,333,087 23,032.1 08 Debt Service(3) I -I- I $1 44,297 141,065 148,164 144,600 429,822 437,147 I 358,047 51 9,000 922,495 859,782 I General Expenditures by Function 1986-87 I (1 ) Includes General, Special Revenue, Debt Service and Capital funds. (2) The City assumed responsibility for the Carlsbad Housing Office in 1979-80. (3) 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 payments. Welfare 2.7% ." I I 1 I I Debt Service 1.7% 0.9 - Capital Projects 46.6% I 23.0 Values are in Million Dollars 140 TOTAL EXPENDITURES - LAST TEN YEARS MILLION DOLLARS 78 79 80 81 82 83 84 85 86 87 YEAR INCLUDES GENERAL, SPECIAL REVENUE, DEBT SERVICE 8 CAPITAL FUNDS SPENDING ON CAPITAL PROJECTS LAST TEN YEARS MILLION DOLLARS 25 20 15 10 5 0 I 78 79 80 81 82 83 84 85 86 87 YEAR INCLUDES GENERAL, SPECIAL REVENUE, DEBT SERVICE & CAPITAL FUNDS 141 Fiscal Yeat 1977-78 1978-79 1979-80 1980-81 1981-82 1982-83 1983-84 1985-86 1986-87 1984-85 Iatal $1 0,838~ 46 9,395,988 12,673,232 16,748,825 16,543,575 1 8,3 1 4,250 23,870,285 31,272,744 37,078,236 45,626,319 General Revenue by Source (1) last Ten FiscaTYears Property Taxes $3,484,504 1,633,938 2,615,181 3,344,171 4,193,938 4,449,196 4,848,041 5,243~ 24 6,769,473 8,516,463 3awLxss $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 6,487,371 Franchise Taxes $1 11,271 141,189 175,257 250,101 358,228 466,102 515,087 586,470 663,598 288,956 Other.Taxes $ 1,056,924 1,242,152 1,302,526 1,615,950 1,347,202 1,950,631 2,510,600 2,611,584 2,786,368 3,481,372 (1) Includes General, Special Revenue, Debt Service, and Capital Project funds. GENERAL REVENUE LAST TEN YEARS MILLIONS OF DOLLARS rn JV 40 30 20 10 0 78 79 80 81 82 83 84 85 86 87 YEAR PROPERTY TAX AND SALES TAX REVENUE PROPERTY TAX LAST TEN YEARS SALES TAX - MILLIONS OF DOLLARS lor 1 YEAR 142 I 1 I I I I I I I 1 I I I I I I I I I 1 I I I 1 1 1 I 1 I 1 I I I 1 I I 1 Business Llcenses $1 51,768 186,845 242,342 247,798 258,663 279,973 351,875 4 28,546 471,470 51 7,972 Other Licenses $ 909,201 626,749 829,623 1,048,332 537,476 491,267 2,099,942 3,042,110 3,525,394 3,830,93 1 Intergov- Charges for ernmental- $ 873,544 $1,411,538 655,588 1,303,342 1,343,102 1,577,622 1,133,947 3,877,542 1,875,243 1,969,808 2,551,262 2,451,708 1,777,587 4,747,951 2,060,542 8,541,600 2,924,892 9,406,829 5,608,869 12,250,389 Fines and Forfeits $1 25,964 129,504 152,171 230,684 260,498 231,086 256,471 345,750 288,055 366,597 lnterest $ 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 2,944,741 Miscel- laneous $ 187,846 134,471 171,197 124,791 75,963 179,271 378,245 1 19,492 1,240,056 958,016 BUSINESS LICENSE REVENUE VIST TEN YEARS THOUSANDS OF DOLLARS “-1 I 500 400 300 200 100 0 78 79 80 81 82 83 84 85687 YEARS 143 CHARGES FOR SERVICES LAST TEN YEARS MILLIONS OF DOLLARS 131 1 10 12~ 8 6 4 2 0 78 79 80 81 82 83 84 85 86 87 YEARS Fiscal mar 1977-78 1978-79 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 1986-87 Ratio of General Bonded Debt to Assessed Valuation and Net Bonded Debt Per Capita Last Ten Fiscal Years ~ ~~ ~ Net Assessed $ 786,791,516 981,186,480 1,250~ 54,952 1,444,275,932 1,687,082,037 2,015,289,869 2,194,598,447 2,495,887,152 2,894,233,860 3,458,390,377 Valuatlon(1) Outstanding Pn'ndDalM $1,595,000 1,510,000 1,425,000 1,245,000 1,145,000 1,030,000 91 5,000 900,000 785,000 670,000 Percent of Total Valuation 0.20% 0.15 0.1 1 0.08 0.06 0.05 0.04 0.03 0.03 0.02 Per Capita m $57 47 40 35 32 26 23 20 16 12 PoDulation(3 1 27,946 32,100 35,448 35,606 36,172 39,037 40,665 44,566 48,872 55,282 (1) Net assessed value is stated at 100% of market value. Data from County of San Diego Office of the Auditor and Controller. (2) (3) Library and sewer general obligation bonds. Population as of January 1 each year per the State Department of Finance. RATIO OF OUTSTANDING GENERAL BONDED DEBT TO POPULATION PER CAPITA DEBT IN DOLLARS 100 80 60 40 20 0 78 79 80 81 82 83 84 85 86 87 YEAR 144 1 1 1 . Computation of Legal Debt Margin June 30,1987 25% of Assessed Valuation Debt Limit 15% of Assessed Valuation Amount of Debt Applicable to Debt Limit: Bonded Debt(1) Capitalized Leases Total Amount of Debt Applicable to Debt Limit LEGAL DEBT MARGIN $ 3,045,000 221.897 3.266.897 $1 26.422.742 Percent of Debt Limit 2.58% (1) Total Bonded Debt-General Obligation Bonds Parking Authority Building Authority (Library and Sewer) TOTALBONDEDDEBT 145 $ 670,000 2,205,000 170.00Q $ 3,045,000 CITY OF CARLSBAD Schedule of Direct andi)vedappingBonded Debt ~ - - June 30. 1987 1986-87 Assessed Valuation: $3,458,390,377 (after deducting $59,561,384 redevelopment tax allocation increment) DIRFCT AND OVERLAPPING BONDED DEBT: Oh ADDlicam San Diego County Building Authorities 4.245% 4.399 4.399 Metropolitan Water District 0.730 Carlsbad Unified School District (various issues) 95.801 -95.807 Carlsbad Unified School District Authority 95.770 San Marcos Unified School District 22.481 San Dieguito Union High School District 9.182 Encinitas Union School District 23.989 Encinitas Union School District Authority 23.989 Other School Districts Various Tri-City Hospital District 33.137 Palomar Pornerado Hospital District & Authority 0.71 1 Leucadia County Water District & I.D. #1 48.747 & 3.985 Costa Real Municipal Water District Costa Real (Carlsbad) Municipal Water District, Olivenhain Municipal Water District I.D. #1 San Diego County Water Authority San Diego County Water Authority Certificates of Participation San Marcos County Water & I.D.3 #1, 2, 6 6.517-9.698 Certificates of Participation 98.785 Improvement Districts #1, 2, 3, 4 97.592-98.778 30.21 9 City of Carlsbad 100. City of Carlsbad Building Authority City of Carlsbad 1915 Act Bonds 100. 100. TOTAL DIRECT AND OVERLAPPING BONDED DEBT $8,138,514 1,422,856 4,399,000 3,924,691 644,326 6,775,728 547,166 348,916 353,837 31 1,857 8,644 729,014 1 16,746 343,726 161,697 12,150,555 978,320 472,927 670,000 (1) 2,375,000 9.57o.004 $54,443,520 (1) Excludes tax and revenue anticipation notes and tax allocation bonds. Ratios to Assessed Valuation: Direct Debt ($3.0 45.000) QQs Total Dm 1.57% Source: California Municipal Statistics, Inc. 146 1 I I I I I 1 1 1 1 I i I I 1 I 8 I I Ratio of Annual Debt Service For General Bonded Debt to Total Governmental Expenditures Last Ten Fiscal Years 1978-79 1979-80 1980-81 Fiscal Yea Princi Dd 1977-78 $85,000 981 -82 982-83 983-84 984-85 985-86 986-87 85,000 95,000 95,000 00,000 15,000 15,000(3) 15,000 15,000 15,000 lnterest $59,297 56,038 53,164 49,600 46,160 42,797 38,022 33,723 29,727 27,505 Total Debt Servlce (1) $1 44,297 141,038 148,164 144,600 146,160 157,797 53,022 148,723 144,727 142,505 Total Governmental wnditureL( 2) $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 49,443,365 (1) Debt service requirement on General Obligation Bonds comprised of 1962 Sewer Bonds Series A, E, C; and 1966 Library Bonds. Excludes debt sebice for Building and Parking Authorities. Ratio of Debt Service to Governmental F x De ndi t u res o/Q 1.6% 1.4 1.2 0.9 0.8 1 .o 0.3 0.7 0.4 0.3 Includes General, Special Revenue, Debt Service and Capital Project funds. 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 %) 147 .. . Fiscal Xat 1977-78 1978-79 1979-80 1980-81 1981 -82 1982-83 1984-85 1985-86 1986-87 1983-84 Gross Revenue $1,388,195 1,525,143 1,806,817 1,997,591 2,084,262 1,934,415 1,672,564 1,371,214 1,522,383 1,532,953 Revenue Bond Coverage Water Bonds Last Ten Fiscal Years Direct Operating ExDenses $1,023,717 1,269,836 1,333,560 1,655,756 1,620,519 1,945,681 1,557,173 1,119,336 1,317,953 933,368 Net Revenue Available for Debt Service $364,478 255,307 473,257 341,835 463,743 (1 1,266) 1 15,390 251,878 204,430 599,585 Debt Service Requirements PrinciDd Interest l&j Cover= $85,000 $91,245 90,000 85,603 95,000 80,377 105,000 74,985 215,000 69,715 1 15,000 64,492 125,000 50,138 130,000 42,531 140,000 38,549 -(1) 56,875 $1 76,245 175,603 175,377 179,985 284,715 179,492 56,875 1751 38 172,531 178,549 207% 145 270 190 1 63 (6) 203 1 44 118 336 (1) In 1983-1984 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. 2.5 2.0 1.5 1 .o 0 WATER ENTERPRISE GROSS REVENUE AND DIRECT OPERATING EXPENSES LAST TEN YEARS GROSS REVENUE MILLION DOLLARS DIRECT OPERATING EXPENSES -------I 78 79 80 81 82 83 84 85 86 87 YEAR SEE NOTES TO THE FINANCIAL STATEMENTS FOR FURTHER INFORMATION NET REVENUE AVAILABLE FOR DEBT SERVICE LAST TEN YEARS YEAR SEE NOTES TO THE FINANCIAL STATEMENTS FOR FURTHER INFORMATION 149 Demographic Statistics Last Ten Fiscal Years yeac 1978 1979 1980 1981 1982 1983 1984 1986 1987 1990 (estimate) 1995 (estimate) 2000 (estimate) 1985 Population Square Percent Miles eqplllation (4) Chanae 28.7 29.1 29.4 29.7 29.8 32.0 32.0 35.6 36.0 39.7 27,946 32,100 35,606 36,172 39,037 40,665 44,566 48,872 55,282 35,448 75,300 (3) 92,100 (3) 107,300 (3) 15.8 14.9 10.4 0.4 1.6 7.9 4.2 9.6 9.7 13.1 County Pooulation(1) 1,694,800 1,767,450 1,899,900 1,924,700 2,041,362 2,166,169 2,240,659 1,808,200 1,986,035 2,083,359 _- City Population Percent QfLQuu 1.6% 1.8 2 .o 1.9 1.9 2.0 2.8 2.1 2.3 2.5 (1) (2) (3) (4) Source - County Data Ease, San Diego County County Future Population Estimate Not Available Population for City General Plan area - San Diego Association of Governments Source - State Department of Finance. Series VI population forecast. POPULATION LAST TEN YEARS POPULATION 60 50 40 30 20 10 0 POPULATION AS OF JANUARY 1 - PER STATE DEFT. OF FiNANCE 78 79 80 81 a2 a3 a4 8s a6 a7 I 151 1977-78 1978-79 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 1986-87 Schedule of Assessed Valuation Last Ten Fiscal Years -~ ~~ ~ - Secured PrODertv $801,704,900 999,559,196 1,273,499,832 1,467,470.336 1,700,974,823 2,027,411,290 2,195,611,840 2,487,491,113 2,893,268,927 3,456,419,183 Unsecured ProDertv $36,4 62,O 64 43,293,144 51,751,756 35,508,800 43,077,175 50,604,897 573 09,394 75,231,054 77,524,350 80,781,420 Source: County of San Diego Office of the Auditor and Controller Less Property E- $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 19,248,842 NET ASSESSED VALUATION Last Ten Years BILLION DOLLARS 4 I 78 79 80 81 82 83 84 85 86 87 YEAR 152 I I 1 1 1 I 1 I Total Valuation $ 829,408,484 1,034,166,656 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 3,517,951,761 Business Inventory FxernDtions $1 2,680,768 16,640,376 20,829,192 Homeowner’s FxernDtionS $29,936,200 36,339,800 44,847,600 48,388,200 48,759,200 48,885,200 49,921,200 52,235,400 57,943,200 65,492,000 Net Taxable m $786,791,516 981,186,480 1,250,154,952 1,444,275,932 1,687,082,037 2,015,289,869 2,194,598,447 2,495,887 ,I 52 2,894,233,860 3,458,390,377 153 Fiscal Yeat 1977-78 1978-79 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 1986-87 Building Permit Revenue $ 520,603 119,224 181,839 328,453 271,542 490,100 1,068,876 1,055,738 1,397,129 1,230~ 00 Conslructi%and Business Activity Last Ten Fiscal Years Percent Chanoe ( 1 5.1 )% (77.1) 52.5 80.6 (1 7.3) 80.5 118.1 (1 .2) 32.3 (1 2.0) Estimated (1) $23,700,000 41,900,000 85,900,000 5~700~2 63 79,400,000 198,520,304 213,403,469 263,548,719 245,661,491 (1) Information for fiscal year 1977-78 is not available. Business Licenses lssued $1 51,768 186,845 242,342 247,798 258,663 279,973 351,875 428,546 471,470 51 7,972 Percent Chanae 7.6% 23.1 29.7 2.3 4.4 8.2 25.7 21 .$ 10.0 9.9 ESTIMATED BUILDING VALUATION 1978-79 TO 1986-87 300 200 100 0 FISCAL YEAR VALUATION PRIOR TO 1978-79 NOT AVAILABLE D 1 I I I I 1 1 I I 1 1 I I I 1 I I I I I I 1 8 I I I I I I I I I 1 8 1 I 1 Fiscal Jar 1979-80 1980-81 1981 -82 1982-83 1983-84 1984-85 1985-86 1986-87 CITY OF CARLSBqP __ - -~~ Property Tax Levies and Collections Last Eight Fiscal Years Total Current l?YY 3,177,757 3,819,009 4,491,805 5,082,02 1 5,605,774 6,051,971 7,013,691 8,644,209 Source: San Diego County Auditor/Controller Information prior to Fiscal Year 1979-80 is unavailable. Total Current Collections 3,177,892 3,742,244 4,325,152 5,017,599 5,491,980 5,984,957 7,201,032 9,502,177 % of Levy Coilected 100.00% 9 7.99% 96.29% 9 8.73% 97.97% 98.89% 102.67% 1 09.67% TOTAL TAX LEVY 1979-80 TO 1986-87 MILLION DOLLARS 10 8 7 6 5 4 3 80 82 83 84 85 86 a7 YEAR DATA PRIOR TO 197940 NOT AVAILABLE 155 CITY OF CAR1 SBAD 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 Area of Parks Po0 Is Number of Libraries Number of Volumes unimproved) Total Number of City Employees 156 July 16, 19.52 General Law CounciVManager 39.7 sq. miles 55,282 3,181 175 4 53 1 60 14,832 13 million gallons 300 95 31 143 Acres 1 2 173,000 384 I I I I 8 I 1 1 I 1 I 1 1 I I t I I Firm Jvlanuf acturing: Hughes Aircraft Company, Eaton-Leonard Corporation Beckman Instruments Watkins Products Dyna Med Inc. Sierracin-Magnedyne Inc. Sargent Industries Industrial Products Division No n-manuf acturi ng: Plaza Camino Real La Costa Hotel & Spa Car Country Auto Dealers Carlsbad Unified School District San Diego Gas & Electric, Encina City of Carlsbad Pea Soup Andersen’s Cablevision CITY OF CAR! ,SBAP Principal Employers 1986-87 P roducVSe Nice Employees Electronic components Vending machines Microbics ope ration Spas Emergency medical products Electronic motors Industrial Seals Shopping center-(5 major department stores) Hotel. & health spa Car dealers Education Power generation Municipal Government Restaurant/Hotel Commercial television All major agencies 1,500 275 240 185 180 162 150 1,000 1,000 500 (est.) 425 41 4 384 200 90 ~ ~ Source: City of Carlsbad Chamber of Commerce 157 Taxpayer CITY OF CARLSBAQ PRINCIPAL TAX-PAY E RS 1986-87 Type of Business San Diego Gas & Electric Hughes Aircraft Company La Costa Hotel & Spa Daon Corporation Hunt Bros-WH-NB Grupe Real Estate Investors Carlsbad Airport Center Beckman Instruments, Inc. Carlsbad Pacific Bus. Center Beckman Instruments, Inc. Utility Manufacturer Hotel & Spa Land Developer Land Developer Land Developer Land Developer Manufacturer Land Developer Manufacturer Source: County of San Diego Office of the Auditor and Controller (1) Net assessed valuation for 1986-87 - $3,458,390,377 Assessed Valuation $345,235,100 66,421,089 56,042,893 45,144,000 23,367,178 21,145,608 19,780,400 19,686,199 17,878,535 19,254,640 Ratio to Total City’s Assessed Valuation (1) 10.0% 1.9% 1 -6% 1.3% 0.7% 0.6% 0.6% 0.6% 0.5% 0.7% 158