HomeMy WebLinkAbout1988-02-02; City Council; 9283; 1986-87 comprehensive annual financial report.. z 0 5 s
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)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
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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
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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
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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)
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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
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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
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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.
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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-
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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.
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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%
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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
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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 - - - - -
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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
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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 - - - - - - - -
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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.
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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.
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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%.
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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.
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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
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Camp Pondlrlon
4
Rancho Swim Fo
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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.
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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
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FINANCIAL SECTION
Deloitt e Has kins+Sells I-
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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
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$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
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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
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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
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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
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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
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$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
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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.
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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
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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
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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
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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
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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
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$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
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7.573.35 1 12,842,969
$9,509,497 S14.545.191
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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
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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.
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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
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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
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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.
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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
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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
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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
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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
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$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
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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
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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.
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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)
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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)
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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
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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
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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
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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
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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)
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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
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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
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CITY OF CARLSBAD
CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET
JUNE 30, 1987 WITH COMPARATIVE FIGURES FOR JUNE 30, 1986 1
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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
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~ ~~~ 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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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 --
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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
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TEPRISF FUNP
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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.
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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
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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
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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
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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
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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
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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) $3.279.864
5(2,972,000)
98,332
5,519
16,019
14,921
1,368,032
383,071
(5,810)
( 15,679)
2.027
t4,134,833
78,808
90,679
8,419
24,675
(5,320)
(1,054,205)
(9,073)
(8,758)
19.806
S(1.105.568) 53,279.864
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INTERNALSER VI CEFU N DS
Workers’ ComQe.n$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.
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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
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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
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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
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Health Insurance Data Processinq Totals
1987 1986
- $
776,462 -
- $ 103,632 -
$ 828,251 $ 744,075
1,779,887 1,082 , 899 - 46 1
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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
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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
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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
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$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.
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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
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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
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STAT'STICAL INFORMATION
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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)
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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
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(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
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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
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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
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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
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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
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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
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1
1
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8
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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
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1
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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
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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
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8
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1
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1
1
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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