HomeMy WebLinkAbout; ; 1981-1982 CAFR; 1982-06-30CITY
OF
CARLSBAD
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
JUNE 3O, 1982
(WITH ACCOUNTANTS REPORT THEREON)
.... :.;-..-;;I,V:/'.'•;>:-.y**^^l;:;>
, CONRAD CERTIFIED PUBLIC ACCOUNTANTS
^ASSOCIATES FOURTEEN CORPORATE PLAZA DRIVE
NEWPORT BEACH, CALIFORNIA 92660
714/759-0511
The Board of Directors
Carlsbad Redevelopment Agency:
Carlsbad, California
We have examined the financial statements of the redevelopment
project fund and long-term debt account group of the Carlsbad
Redevelopment Agency for the year ended June 30, 1982. Our
examination was made in accordance with generally accepted auditing
standards, and accordingly includes such tests of the accounting
records and such other auditing procedures as we considered
necessary in the circumstances.
In our opinion, the aforementioned financial statements present
fairly the financial position of the redevelopment project fund and
long-term debt account group of the Carlsbad Redevelopment Agency
at June 30, 1982, and the results of operations of such fund for
the year then ended, in conformity with generally accepted
accounting principles applied on a basis consistent with that of
the preceding year.
I4
September 27, 1982
CARLSBAD REDEVELOPMENT AGENCY
Notes to Financial Statements
June 30, 1982
Summary of Significant Accounting Policies
The different funds and account groups in which financial data
pertaining to the Carlsbad Redevelopment Agency (hereafter the
"Agency") are recorded as follows:
Redevelopment Projects Fund
This fund accounts for all revenues and costs of implementing
Redevelopment Project Area Number 1 in accordance with the
California Community Redevelopment law, including acquisition
of properties, cost of site improvements, and other costs of
benefit to the project area and administrative expenses
incurred in sustaining agency activities.
Debt Service Fund
This fund was established to finance and account for the
payment of interest and principal on the Agency's long term
advances from the City and any other long term debt. The
principal sources of revenue of this fund are tax increment
(80%) and investment income.
Low and Moderate Income Housing Special Revenue Fund
This fund is utilized to account for tax increment (20%)
revenue restricted as to use for expenditures in connection
with low and moderate income housing.
Long-Term Debt Group of Accounts
This group of accounts is used to account for, in a separate
self-balancing group of accounts, the Agency's outstanding
indebtedness.
Memorandum Only Totals
Columns in the accompanying financial statements captioned
"Total (Memorandum Only)" are not necessary for a fair
presentation of the financial statements in accordance with
generally accepted accounting principles, but are presented as
additional analytical data.
CARLSBAD REDEVELOPMENT AGENCY
Notes to Financial Statements
(Continued)
Basis of Accounting
The modified basis of -accounting is utilized by all fund
types. The modified accrual basis of accounting, under which
expenditures, other than interest on long term debt, are
recorded when the liability is incurred and revenues are
recorded when received in cash unless susceptible to accrual,
i.e., measurable and available to finance the Agency.
(2) Creation of the Redevelopment Agency
The Carlsbad Redevelopment Agency was activated in July 1976
with the adoption of Ordinance No. 1191 by the Carlsbad City
Council pursuant to the California Community Redevelopment
law, now codified as Part 1, Division 24, of the State of
California Health and Safety Code. The Agency has the broad
authority to acquire, rehabilitate, develop, administer and
sell or lease property.
The principal objectives are to eliminate blightened in-
fluences within the "Village Area" of the City of Carlsbad,
stimulate and attract private investment, generate added
employment through increased specialty goods and services and
expand the City's sales tax revenue.
(3) Advances from the City of Carlsbad
Since activation of the Redevelopment Agency in July 1976 the
City has advanced the Agency monies for appproved administra-
tion expenditures. At June 30, 1982, the aggregate amount of
City advances are £235,050. Such amounts will bear interest
at 10% commencing July 1, 1982.
CONRAD CERTIFIED PUBLIC ACCOUNTANTS
FOURTEEN CORPORATE PLAZA L
NEWPORT BEACH,
ACCOUNTANTS' REPORT ON
COMPLIANCE WITH AUDIT GUIDELINES FOR
CALIFORNIA REDEVELOPMENT AGENCIES
Board of Directors
Carlsbad Redevelopment Agency
In connection with our examination of the financial statements, we
have performed, to the extent applicable, the tasks contained in
Section 1 through 4 of the "Guidelines for Compliance Audits of
California Redevelopment Agencies" published by the State
Controller.
Based on the above procedures, we are of the opinion that the
Agency complied in all material respects with criteria established
in the State Controller's guidelines referred to above except as
follows:
The Agency had not submitted to the State of California an
annual report containing an independent financial audit
report, a work program for the coming year including
goals, an examination of the previous year's achievements
with a comparison to that year's established goals, and
recommendation for needed legislation. The Carlsbad
Village Area Redevelopment Plan was not adopted until
November, 1981, and it is our understanding that the
required annual report will be submitted shortly after
October, 1982, the end of the 12 month reporting period.
The Agency had not prepared a plan for relocation of
non-profit local community institutions to be temporarily
or permanently displaced from facilities in the project
area.
f xfekH^0-
September 27, 1982
CARLSBAD KEDEVELOP1-ENT AGENCY
Combined Balance Sheet
June 30, 1982
Assets
Amount to be provided for retirement
of advances to City of Carlsbad
Liabilities and Fund Equity
Advances payable to the City of Carlsbad
(note 3)
Redevelopment
Projects
Fund
long-Term
Etebt
$235,050
£235,050
$235,050
$235,050
Total
(Memorandum
Only)
235,050
$235,050
235,050
$235,050
See accompanying notes to financial statements
CARLSBAD REDEVELOPMENT AGENCY
Combined Statement of Revenues, Expenditures, and
Changes in Fund Balances
Year Ended June 30, 1982
Revenues:
Proceeds from advance
from City of Carlsbad
Expenditures:
Administration:
Salaries and wages
Professional services
Other
Total expenditures
Excess of Revenues over Expenditures:
Fund balance 7-1-81
Fund balance 6-30-82
Redevelopment
Projects
Fund
$53,123
24,131
10,751
18,241
53,123
See accompanying notes to financial statements
CITY OF CARLSBAD
Carlsbad, California
Comprehensive Annual Financial Report
June 30, 1982
(with accountants' report thereon)
CITY OF CARLSBAD
Comprehensive Annual Financial Report
Year Ended June 30, 1982
TABLE OF CONTENTS
Page
INTRODUCTORY SECTION:
Table of Contents i
Letter of Transmittal 1
Certificate of Conformance 6
List of City Officials 7
Organization Chart 8
FINANCIAL SECTION:
Accountant's Report 12
GENERAL PURPOSE FINANCIAL STATEMENTS:
Combined Balance Sheet - All Fund Types
and Account Groups 13
Combined Statement of Revenues,
Expenditures, and Changes in Fund
Balances - All Governmental Fund Types 15
Combined Statement of Revenues, Expenditures
and Changes in Fund Balance - Budget and
Actual - All Governmental Fund Types 17
Combined Statement of Revenues, Expenses, and
Changes in Retained Earnings - All
Proprietary Fund Types 19
Combined Statement of Changes in Financial
Position - All Proprietary Fund Types 20
Notes to Combined Financial Statements 21
CITY OF CARLSBAD
TABLE OF CONTENTS, Continued
Page
Supplemental Data:
Governmental Funds:
General Fund:
Schedule of Revenues 37
Schedule of Expenditures 38
Special Revenue Funds:
Combining Balance Sheet 39
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 41
Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and
Actual 43
Debt Service Funds:
Combining Balance Sheet 53
Combining Statement of Revenues,
Expenditures, and Changes in
Fund Balances 54
Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and
Actual 55
Capital Projects:
Combining Balance Sheet 57
Combining Statement of Revenues,
Expenditures, and changes in
Fund Balances 59
Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and
Actual ftl
11
CITY OF CARLSBAD
TABLE OF CONTENTS, Continued
Proprietary Funds:
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
STATISTICAL SECTION:
General Government Expenditures by Function
Last Ten Fiscal Years
General Revenues by Source, Last Ten Fiscal Years
Ratio 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, Last Ten Fiscal Years
Demographic Statistics
Schedule of Assessed Valuation, Last Ten Fiscal Years
Construction and Business Activity, Last Ten Fiscal Years
Schedule of Principal Employers
Miscellaneous Statistical Information
Page
67
68
69
70
73
75
77
78
79
80
81
82
83
85
86
87
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IV
1200 ELM AVENUE
CARLSBAD, CALIFORNIA 92008
TELEPHONE:
(714)438-5551
3
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City of Cartebab
FINANCE DEPARTMENT
November 21, 1983
Honorable Mayor, City Council,
and City Manager
CITY OF CARLSBAD
Carlsbad, California
We are pleased to present the 1981-82 Annual Financial
Report of the City of Carlsbad to the City Council and the City
Manager. This report includes financial statements for all
funds and groups of accounts prepared in accordance with
generally accepted accounting principles. This report also
includes the opinion of our certified public accountants,
Conrad and Associates.
In 1980-81 the Finance Department initiated an effort to
revise prior reporting practices to conform with the standards
set by the National Council on Governmental Accounting (NCGA).
This effort met with success in early 1982 when the California
Society of Municipal Finance Officers (CSMFO) awarded Carlsbad
their Certificate of Merit for reporting excellence for the 1980-
81 Annual Financial Report. By complying with the standards set
by the NCGA and CSMFO, the City's annual report is a more useful
document, both internally and externally. The format of the
report is designed to fairly set forth the financial position and
results of operation of the city as measured by the financial
activity within the various fund types.
Accounting System and Budgetary Control
There have been no major changes in the City's basic
accounting system for 1981-82. The City continues to operate on
a modified accrual basis for all governmental type funds. This
means that revenues are recorded when received in cash unless
susceptible to accrual. Revenues that are accrued must be both
measurable and collectable within the period or soon enough after
the end of the period to pay liabilities of the period. Expendi-
tures, other than interest on long term debt, are recorded
when liabilities are incurred.
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The proprietary fund types (the water enterprise and the
internal service funds) utilize the accrual method of account-
ting. Revenues and expenses are recorded when earned and
incurred respectively.
Internal controls exist within the accounting system to insure the
safety of assets from misappropriation, unauthorized use or dispo-
sition, 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
existance within the city's system are sufficient to insure both the
safety of the City's assets and the accuracy of the financial record
keeping system. However, during 1982-83 the Finance Department will
institute a series of internal audits to improve the existing system.
These audits will cover the areas of fee collection, cash handling,
revenue and expenditure processing and basic accounting policies.
Budgetary control is maintained through monthly reports on all
revenue and expense accounts as well as special reports summa-
rizing the financial position of the City.
General Governmental Functions
The general government function is supported by revenues received
and recorded in the general fund, special revenue funds, debt service
funds, and capital funds. In 1981-82, revenue in all governmental
funds totaled $17.9 million. This represents an increase of about
$1.1 million or 6.4% over 1980-81 revenue as shown below:
City of Carlsbad
Governmental Fund Type
Revenue 1981-82
1981-82 Percent Increase (Decrease)
Revenue Source Amount ($1000) of Total Over 1980-81 ($1000)
Taxes $ 9,771 54.6% $1,259
Licenses & Permits 796 4.5 <500>
Intergovernmental
Revenue 1,875 10.5 741
Charges for
Service 3,458 19.3 <419>
Fines & Forfeits 260 1.5 30
Interest Income 1,652 9.2 78
Mi s ce 1 laneous
Revenue 76 0 .4 <49>
TOTAL REVENUE $ 17,888 100.0% $1,140
Both property and sales taxes were able to record increase over
1980-81 in spite of a slow economy. Revenue from these two sources
grew by about $1 million over last year's level. The economy did,
however, take its toll in the building and construction related
sources such as building permits, engineering fees and planning fees.
These fees show a decline of $165,000 or 26% from 1980-81. Capital
funds are very dependent upon construction activity for revenue.
These funds show a decline of about $660,000 from the 1980-81
level. Vehicle license revenue also showed a substantial reduction
from the 1980-81 figures due to major changes in the State's
subvention allocation. The state reduced Carlsbad's vehicle license
revenue by $433,000 or about 62% between 1980-81 and 1981-82.
Expenditures from government fund types totaled $19.6 millon in
1981-82. This is an increase of about $3.2 million or 19.7% over
1980-81. These expenditures are distributed as shown below:
City of Carlsbad
Governmental Fund Types
Expenditures 1981-82
Expenditure Type
General Government
Public Safety
Public Works
Culture & Recreation
Welfare
Debt Service
Capital Projects
TOTAL EXPENDITURES
1981-82
Amount ($1000)
$2,849
4,889
3,063
2,732
650
146
5 ,309
$19,638
Percent
Total
14.5%
24.9
15.6
13.9
3.3
0.8
27.0
100.0%
of Increase (Decrease)
Over 1980-81 ($1000)
$<11
2
,698>
,482
194
470
42
2
,739
_
Jj
"*
$3,231 ]
Capital projects account for $2.7 million of the $3.2 million
increase between 1980-81 and 1981-82. The City's capital program
called for major land acquisitions which were accomplished in 1981-
82. The decrease shown in the general governnment program is
primarily due to the redistribution of
departments rather than accounting for
account (a decrease of about $650,000)
outlay under lease purchase agreements
$899,000). The
distribution of
retirement costs to all
these costs under one central
and the reduction in capital
(a decrease of about
increases shown in public safety are due to the
retirement costs - $600,000, and general salary and
]
inflationary adjustments.
1m
Proprietary Funds
For 1981-82, this category includes the water enterprise operation
and the Workers' Compensation and General Liability self-insurance
internal service funds. The water enterprise fund generates
sufficient revenue to support operations and all debt service needs.
Revenue is received primarily from the retail sale of water to 7000
customers. During 1981-82 the water enterprise delivered
approximately 225 million cubic feet of water to Carlsbad residents.
A separate report is available that provides more detail on the water
operations for 1981-82.
The Workers' Compensation and General Liability se1f-insurance
funds were supported by a combination of user charges and
contributions from the general fund. The Workers' Compensation self-
insurance fund collected about $222,000 in user charges in 1981-82.
Contributions from the general fund totaled $250,000 to the Workers'
Compensation self-insurance fund and $350,000 to the General
Liability self-insurance fund.
Self Insurance Program
The City has been self-insured for Workers' Compensation since
September, 1978. The activity for this program has been contained in
the Workers' Compensation self-insurance internal service fund.
Workers' Compensation claims for 1981-82 amounted to $173,000.
Workers' Compensation premiums would have cost the city about $550,000
to $600,000 if not self-insured.
The General Liability se1f-insurance fund was established near the
end of fiscal 1980-81. This year represents the first full year of
operation under the liability se1f-insurance program. During 1981-82
claims totalling $135,000 were paid out of this fund. Contributions
of $350,000 were made from the general fund to support the program and
to bring the residual fund equity up to an acceptable level.
Cash Management
The City Treasurer is charged with the responsibility of safe-
guarding the City's assets, receiving all payments due the City and
investing all inactive funds. This year the treasurer earned over
$2 million in interest on investments in all fund types from
instruments earning from 10.75% to 15.75%. This represents an
increase of about 11.8% over 1980-81. Funds are invested in various
types of notes and certificates and are fully insured or
collateralized. At June 30, 1982, the treasurer had 99% of all
available funds invested.
]
Acknowledgements
The preparation of this report has been the joint effort of
our independent certified public accountants, the Finance
Department and Central Services Department. Each party has
played a very important part in the creation of this
comprehensive financial report. We
appreciation to the staff of Conrad
Department and Central Services for
wish to express
and Associates,
their dedicated
our
the Finance
effort s. Our
appreciation also goes to both City management and the Council
for their support of the Finance staff and this project.
Respect
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CITY OF CARLSBAD
City Officials
CITY COUNCIL
Mary H. Casler, Mayor
Claude A. Lewis
Girard W. Anear
Ann J. Kulchin
Richard J. Chick
ADMINISTRATION & DEPARTMENT HEADS
Frank Aleshire, City Manager
Frank Mannen, Assistant City Manager/Administration
Ronald Beckman, Assistant City Manager/Development
William C. Baldwin, Assistant City Manager/Operations
Vincent F. Biondo, Jr., City Attorney
Aletha L. Rautenkranz, City Clerk
Frank C. Rice, City Treasurer
Vincent Jimno, Police Chief
James Thompson, Fire Chief
David Bradstreet, Parks Director
Clifford Lange, Library Director
Roger Greer, Utilities Director
Jerome N. Pieti, Personnel Director
James F. Elliott, Finance Director
Ruth Fletcher, Purchasing Officer
Martin Orenyak, Building and Planning
Director
CHAIRPERSONS COMMISSIONS & BOARDS
Vernon J. Farrow, Jr.
Shirley Dahlquist
Seena Trigas
John H. Lusignan
C. R. Helton
Lyle Richardson
Planning Commission
Parks & Recreation Commission
Library Board
Traffic Safety Commission
Building Authority
Parking Authority & Personnel Board
CITY OF CARLSBAD
ORGANIZATIONAL CHART
VOTERS
'*•*•>-
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C
Cr
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1 CITY CLERK I I
1 PARKS & REC COMMISSION I
j" PLANNING COMMISSION |—
| LIBRARY BD. OF TRUSTEES f—
\ PARKING AUTHORITY |-J
ACM/ADMINIST
PERSONNEL
PURCHASING
RESEARCH/ANAL^i
FINANCE
CENTRAL SERVIC
1 CITY
rsis
"!ES
ACM/DEVELOPMENT
LAND USE PLANNING
ENGINEERING
BUILDING
HOUSING
REDEVELOPMENT
ACM/OPERATIONS
EQUIPMENT MAID
BUILDING MAIN1]
STREET MAINT.
IT.
I
CITY COUNCIL J CITY TREASURER
1
MANAGER CITY ATTORNEY! ""iTRAFFIC SFTY. COMMISSION
-{PERSONNEL BOARD
- ADVISORY COMMITTEE
{-[BUILDING AUTHORITY
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1 """~|PARKS & REC. 1
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FINANCIAL SECTION
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p CONFvvD CERTIFIED PUBLIC ACCOUNTANTS
ASSOCIATES FOURTEEN CORPORATE PLAZA DRIVE
NEWPORT BEACH, CALIFORNIA 92660
714/759-0511
The Honorable Mayor and City Council
City of Carlsbad, California
We have examined the combined financial statements of the City
of Carlsbad, California as of and for the year ended June 30,
1982 as listed in the Table of Contents, pageslS through 35 .
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 aforementioned combined financial statements
present fairly the financial position of the City of Carlsbad,
California at June 30, 1982 and the results of its operations and
the changes in financial position of the 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.
The accompanying supplemental information in the combining and
individual fund statements and schedules on pages 37 through 71
are not necessary for a fair presentation in conformity with
generally accepted accounting principles of the financial posi-
tion, results of operations, and changes in financial position
(proprietary fund types) of the City of Carlsbad, California
but are presented as additional analytical data. The supple-
mental information has been subjected to the tests and other
auditing procedures applied in the examination of the com-
bined financial statements listed in the Table of Contents, but
not to the extent necessary for us to formulate an opinion on
the combining, individual fund, or account group statements or
schedules standing alone. However, in our opinion, the supple-
mental data are stated fairly in all material respects in
relation to the combined financial statements taken as a whole.
•<//
September 27,1982
12
CITY OF CARLSBAD
Combined Balance Sheet
All Fund Types & Account Groups
June 30, 1982
General
Assets;
Cash and cash equivalents
(note 4)$2,891,674
Receivables:
Taxes
Accounts
Accrued interest
Due from other funds
Due from other governments
Advances to other funds
Advances to other govt's. (note 14)
Inventory, at cost
Prepaid expenses
Restricted assets:
Cash & cash equivalents (note 4)
Accrued interest
Property, plant and equipment
(net of accumulated
depreciation (note 5)
Amount available in debt
service funds
Amount to be provided, for retire-
ment of general long-term debt
93,153
528,763
86,657
457,182
12,544
235,050
5,150
60,221
Total assets $4,370,394
Liabilities:
Accounts payable $ 375,812
Accrued wages payable 193,371
Due to other funds 3,177,608
Due to other governments
Advances from other funds
Deposits payable
Deferred compensation payable
payable (note 12) 142,723
Estimated claims payable
Payable from restricted assets:
Accrued interest payable
Revenue bonds payable
General obligation bonds payable (note 6)
Revenue bonds payable (net of
unamortized discount of $9,317
and current portion - note 6)
Obligations under capital lease (note 7)
Deferred revenue
Total liabilities $3,889,514
Fund Equity:
Contributed capital $
Investment in general fixed assets
Retained earnings (note 11):
Fund balances (note 11):
Total fund equity
Total liabilities and
fund equity
480,880
480,880
$4,370,394
1
3
Governmental Fund Types
Special
Revenue
Debt
Service
10,491
182,261
41,036
155,456
1,444
3,337
65,282
6,348
32,161
12,544
116,335 -0-
3,376,822 123,248
3,376,822 123,248
Sec accompanying notes to combined financial statements.
13
Capital
Projects
3,103,913 118,467 2,090,640
3
15,500
22,013
3,054,313
I
3,493,157 123,248 5,182,466
27,022
444,785
471,807
4,710,659
4,710,659
3
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3,493,157 123,248 5,182,466
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Proprietary Fund "Types
Internal
Enterprise Service
1,600,549 979,496
421,570
13,732
4,223
105,432
5,317
1,365,595
8,422
4,463,689
7,984,306 983,719
96,493 990
9,182
12,397
69,774
207,561
115,000
1,017,683
1,308,132 220,948
2,248,965 900,000
4,427,209 <137,229>
6,676,174 762,771
7,984,306 983,719
Fiduciary Totals
Fund Type1 ?,' Accoant^Otdupji (Memorandum Only)
General General Long- June 30,
Agency Fixed Assets Term Debt 1982
1,344,389 12,129,128
526,658
740,256
347 157,613
3,666,951
12,544
235,050
110,582
65,538
1,365,595
8,422
16,393,528 20,857,217
123,248 123,248
1,915,653 1,915,653
1,344,736 16,393,528 2,038,901 41,914,455
26,247 591,846
208,901
3,666,951
12,544
1,318,489 1,388,263
142,723
207,561
115,000
1,145,000 1,145,000
1,017,683
893,901 893,901
1,344,736 -0- 2,038,901 9,390,373
3,148,965
16,393,528 16,393,528
4,289,980
8,691,609
-0- 16,393,528 -0- 32,524,082
1,344,736 16,393,528 2,038,901 41,914,455
June 30,
1981
13,778,640
537,434
448,320
359,079
35,628
23,795
16,725
181 ,928
96,314
5,328
1,322,851
31,731
14,889,728
142,033
2,080,017
33,949,551
745,885
155,997
35,628
23,661
16,725
1,330,770
64,736
97,715
37,334
105,000
1,245,000
1,242,005
977,050
201,003
6,278,509
2,548,965
10,375,233
3,935,466
10,811,378
27,671,042
33,949,551
14
CITY OF CARLSBAD
Combined Statement of Revenues,Expenditures and
3
3
*+.
Changes in Fund Balance - All Governmental Fund Types ^ *
J
Year ended June 30,
Revenues:
Taxes
Licenses and permits
Intergovernmental revenues
Charges for services
Fines and forfeits
Interest income
Miscellaneous revenues
Total revenues
Expenditures :
General government
Public safety
Public works
Welfare
Culture and recreation
Capital projects
Capital outlay-lease purchase agreements
Debt service expenditures
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Lease purchase agreements
Operating transfers in
Operating transfers (out)
Total other financing sources (uses)
Excess (deficiency) of revenues and
other sources over expenditures
and other uses
Fund balances at beginning of year as
previously reported
Prior period adjustment (note 2)
Fund balances at beginning of year as
adjusted
Residual equity transfers from (to)
other funds (Note 3)
Fund balance at end of year
1982
General
$ 8,907,984
796,139
95,632
1,383,066
260,498
1,217,863
75,963
12,737,145
2,676,552
4,888,849
1,814,913
2,303,143
11,683,457
1,053,688
<3,054,313>
<3,054,313>
<2,000,625>
2,981,505
2,981,505
<500,000>
$ 480,880
Special
Revenue
$ 755,895
1,779,611
603,734
295,392
3,434,632
172,507
1,247,521
650,202
429,200
2,499,430
935,202
935,202
2,500,269
<58,649>
2,441,620
3,376,822
m_
~i•
1J
*!fj
3•i
1J
1J
1Ml
1mt
."*%,
^ J
See accompanying notes to combined financial statements
15
Debt
Service
Capital
Projects
Totals
(Memorandum Only)
June 30,
1982
June 30,
1981
$ 107,297
20,078
127,375
100,000
46,160
146,160
<18,785>
1,471,293
118,228
1,589,521
5,309,009
5,309,009
<3,719.488>
3.054.313
3.054,313
9,771,176 8,512,356
796,139 1,296,130
1,875,243 1,133,947
3,458,093 3,877,542
260,498 230,684
1,651,561 1,573,375
75,963 124.791
17,888,673 16,748,825
2,849,059 3,648,090
4,888,849 3,407,025
3,062,434 2,868,460
650,202 608,009
2,732,343 2,261,888
5,309,009 2,569,902
899,125
100,000 95,000
46,160 49,600
19,638,056 16,407,099
<1,749.383> 341.726
899,125
3.054.313
<3.054.313>
-0- 899,125
<18.785>
142,033
<665,175> <1.749,383> 1,240,851
5,187,571 10,811,378 7,597,305
<58,649> 563,570
142,033
$ 123,248
5,187,571 10,752,729 8,160,875
188,263 <311,737> 1,409.652
4,710,659 8,691,610 10,811,378
16
CITY OF CARLSBAD
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget 4 Actual
All Governmental Fund Types
Year ended June 30, 1982
Revenues:
Taxes
Licenses and permits
Intergovernmental revenues
Charges foe services
Fines and forfeits
Interest income
Miscellaneous revenues
Total Revenue*
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Capital outlay, lease purchase
agreements
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures (note 10)
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Lease purchase agreements
Operating Transfers in(ouc)
Total other financing suurces(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses
Fund balances at beginning of year as
previously reported
Prior period adjustment (note 2)
Fund balances at beginning of year
a* adjusted
Residual equity transfers from (to)
other funds (note 3)
Fund balance at end of year
Sec accompanying notes to«combined financial statements
OBuci.i runu special Kevonii* Fim<l«
Budget
$ 8,768,000
1,025,000
1,136,500
210,000
1,000,000
90,000 •
12,229,500
3,628,397
5,023,786
2,072,203
2,404,726
11,129, 112
<899,612>
i)
<899.6I2>
2,981,505
2,981,505
$2,081,893
Actual
8,907,984
796,139
95,632
1,383,066
260,498
1,217,863
75,963
12, 737,145
2,676.552
4,888,819
1,814,913
2,303,143
11,683,457
1,053,688
<3,054,313>
<3,054.313>
<2,000,625>
2,981,505
2,981,505
<500,000>
480,880
Variance
favorable
(unfavorable)
139,984
<228,861>
95,632
246,566
50,498
217,863
<14,037>
507,645
451,845
134,937
257,290
101,583
945.655
1,453,300
<3,054,313>
<3,054,313>
<1,101.013>
<500.000>
<1.601,013>
Budget
$ 744,900
1,294,480
636,000
133,000
2,808,380
1,246,300
2,275,886
816.156
530,207
4,868.549
<2,060,169>
<2,060,169>
2,500,269
2,500,269
$ 440,100
Actual
755,895
1,779,611
603,734
295,392
3,434,632
172,507
1,247,521
650,202
429,200
2,499,430
935,202
935,202
2,500,269
<58,649>
2,441,620
3,376,822
Variance
favorable
(unfavorable)
10,995
485.131
<32,266>
162,392
626,252
1,073,793
1,028,365
165,954
101,007
2,369,119
2,995,371
2,995,371
<58,6A9>
<58,649>
2,936,722
I
I
I
I
I
I
I
I
I
I
17
I
I
I
f
I
I
I
I
I
I
k
I
I
I
I
I
I
I
Debt Service Funds
Variance
favorable
Budget Actual (unfavorable) Budcet Actual
$ 127,500 107,297 <20,203>
2,982,000 1,471,293
11,500 20.078 8,578 170,006 118,228
139,000 127,375 <11.625> 3.152,000 1,589,521
7,970,365 5,309,009
100,000 100,000
42,670 46,160 <3,490>
142,670 146,160 <3,490> 7 970,365 -5,309,009
<3,670> <18,785> <15,115> <4,818,365> <3,719,488>
3,054,313
3,054,313
<3,670> <18,785> <T5,115> <4,818,365> <665,175>
142,033 142,033
5,187,571 5,187,571
142,033 142,033 5,187,571 5,187f571
188,263
$ 138,163 123,248 <15,115 > * 369,206 4,710,659
Variance
favorable
(unfavorable)
<1,510,707>
<51,772>
<1.562,479>
2,661,356
2,661,357
1,098,877
3,054,313
3,054,313
4,153,190
4,153,190
188,263
4,341,453
I 18
CITY OF CARLSBAD
Combined Statement of Revenues, Expenses, and
Changes in Retained Earnings - All Proprietary Fund Types
Year ended June 30, 1982
™*.
Totals
Operating revenues:
Meter water sales
Other charges for services
Reimbursed expenditures
Total operating revenue
Operating expenses:
Personal services
Office expenses
Repairs and maintenance
Professional services
Transportat ion
Insurance
Purchased water
Depreciation and amortization
Estimated claims
Total operating expenses
Operating income (loss)
Non-operating revenues (expenses)
Interest income
Interest expense and fiscal
agent fees
Contribution & donations from
private sources
Total non-operating
revenues (expenses)
Net income (loss)
Retained earnings at
beginning of year as
previously reported
Effect of change in accounting
principles (note 2)
Retained earnings at beginning
of year as adjusted
Retained earnings at end
of year (note 11)
Enterprise
1,679,299
7,077
1,686,376
361,552
24,670
100,056
152,333
3,067
18,004
814,410
146,427
1,620,519
65,857
319,583
<69,715>
78,303
328,171
394,028
4,033,181
4,033,181
$4,427,209
Internal
Service
222,236
6,700
228,936
308,765
308,765
<79,829>
40,315
40,315
<39,514>
<97,715>
<97,715>
<137,229>
(Memorandum
June 30,
1982
1,679,299 1
229,313
6,700
1,915,312 1
361,552
24,670
100,056
152,333
3,067
18,004
814,410
146,427
308,765
1,929,284 1
<13,972>
359,898
<69,715>
78,303
368,486
354,514
3,935,466 4
3,935,466 3
4,289,980 3
Only)
June 30 ,
1981
,707,757
67,977
,775,734
326,440
22,420
130,185
120,350
15,876
54,965
842,039
143,481
97,715
,753,471
22,263
221,857
<74,985>
146,872
169,135
,616,854
<850,523>
,766,331
,935,466
See accompanying notes to combined financial statements
Water enterprise.
19
CITY OF CARLSBAD
Combined Statement of Changes in Financial Position-
All Proprietary Fund Types
Year ended June 30, 1982
Total
(Memorandum Only)
Sources of working capital:
Operations
Net income
Items not requiring working capital:
Depreciation and amortization
Working capital provided by
operations
Contribution from other funds
Total sources of working capital
Uses of working capital:
Loss from operations
Acquisition of property, plant, and
equipment
Decrease in long-term revenue bonds payable
Net increase in other restricted assets
Net decrease in other current liabilities
payable from retricted assets
Total uses of working capital
Net increase in working capital
Elements of net increase (decrease) in
unrestricted working capital:
Cash and cash equivalents
Accounts receivable
Accrued interest receivable
Inventory
Prepaid expenses
Accounts payable
Accrued wages payable
Estimated claims payable
Due to other funds
Deposits payable
Net increase in working capital
Enterprise
$394,028
146,427
540,455
540,455
104,943
215,000
19,435
27,334
366,712
$173,743
146,312
9, '355
9,118
292
<2,482>
35,628
<8,353>
$173,743
Internal
Service
86,009
86,009
600,000
686,009
125,523
125,523
560,486
679,496
4,223
<990>
<109,846>
<12,397>
560,486
June 30,
1982
480,037
146,427
626,464
600,000
1,226,464
125,523
104,943
215,000
19,435
27,334
492,235
734,229
825,808
13,'578
9,118
<698>
<2,482>
<109,846>
23,231
<8,353>
734,229
June 30 ,
1981
266,850
143,481
410,331
300,000
710,331
97,715
25,355
105,000
102,866
24,344
355,280
355,051
472,003
63,901
<24,709>
5,775
<2,269>
24,693
<6,700>
<97,715>
<35,628>
<44,300>
355,051
See accompanying notes to combined financial statements
Water Enterprise.
20
3
3CITY OF CARLSBAD
Notes to Combined Financial Statements
June 30, 1982
(1) Summary of Significant Accounting Policies 3
The accounting policies of the City of Carlsbad, California conform to
generally accepted accounting principles. The following is a summary
of the more significant policies:
(a) Fund Accounting •. i
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
balance/retained earnings, revenues and expenditures. The various
funds and account groups are summarized by type in the financial
statements. Fund types and account groups are used by the City as
follows:
GOVERNMENTAL FUNDS;
General Fund "
The General Fund is the general operating fund of the City. All gen-
eral tax revenues and other receipts that are not allocated by law or •
contractual agreement to some other fund are accounted for in this j§
fund. From the fund are paid the general operating expenses and capi-
tal improvement costs which are not paid through other funds. mm
Special Revenue Funds
The Special Revenue Funds are used to account for revenues derived
from specific sources which are usually required by law or adminis-
trative regulation to be accounted for in separate funds.
Debt Service Funds
Debt Service Funds are used to account for the accumulation of re-
sources for, and the payment of, general long term debt principal, in-
terest and related costs.
Capital Project Funds
Capital Project Funds are used to account for financial resources to
be used for the acquisition or construction of major capital facil-
ities (other than those financed by proprietary funds).
21
m CITY OF CARLSBAD
m
Notes to Combined Financial Statements, Continued
PROPRIETARY FUNDS
Enterprise Fund
The Water Utility Fund is used to account for operations that are
financed and operated in a manner similar to private business
enterprise where the intent of the City Council is that the costs (ex-
penses, including depreciation) of providing goods and services to
the general public on a continuing basis be financed or recovered
primarily through user charges.
Internal Service Funds
Internal Service Funds are utilized to finance and account for activ-
ies 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
Agency Funds
The Agency Funds are used to account for assets held by the City in
an agency capacity for individuals and private businesses and other
governmental agencies.
ACCOUNT GROUPS
General Fixed Assets Account Group
General Fixed Assets have been acquired for general governmental pur-
poses. Assets purchased are recorded as expenditures in the govern-
mental fund types and capitalized at cost in this group of accounts.
In the case of gifts or contributions, such assets are recorded in
general fixed assets at fair market value at the time received.
Fixed assets consisting of certain improvements other than buildings,
including roads, bridges, curbs and gutters, streets and sidewalks,
and drainage systems have not been capitalized. Such assets normally
are immovable and of value only to the City; therefore, stewardship
for capital expenditures are satisfied without recording of these
assets.
No depreciation has been provided on general fixed assets.
General Long-Tertn Debt Account Group
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 lease.
22
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued .0^
*j(b) Measurement Focus and Basis of Accounting
The proprietary (enterprise and internal service) fund types are j
accounted for on an "income determination" or "cost of services"
measurement focus. Accordingly, all assets and liabilities are in-
cluded on the balance sheet, and the reported fund equity provides S
an indication of the economic net worth of the fund. Operating state- <•
ments for proprietary fund types report increases (revenues) and de-
creases (expenses) in total economic net worth. M
Governmental (general, special revenue, debt service and capital pro-
jects) fund types are accounted 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 governmental fund types report increases (revenues)
and decreases" (expenditures) in available spendable resources.
Agency funds are custodial in nature (assets equal liabilities) and
do not involve measurement of results of operations.
The modified accrual basis of accounting is followed by the govern-
mental funds and fiduciary fund. Under the modified accrual basis of
accounting, revenues are recorded when received in cash, unless sus-
ceptible to accrual, i.e., both measurable and available. Available
means collectible within the current period or soon enough thereafter •
to be used to pay liabilities of the current period. Expenditures, |
other than interest on long-term debt, are recorded when liabilities
are incurred. m
|
The accrual basis of accounting is followed by the proprietary funds.
(c) Cash Equivalents •
•I
Cash equivalents are stated at cost, which approximates market.
Inventories within the various fund types consist of materials and _
supplies which are valued at cost. m
(e) Property, Plant and Equipment - Enterprise Fund
~~ 1
Property, plant and equipment of the enterprise fund is stated at |j
cost or fair market value at the date contributed. Depreciation has
been provided over the estimated useful lives of the assets using the •
straightline method. Sj
23
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(f) Vacation and Sick Leave
The City records the cost of vacation and sick leave pay when paid.
At June 30, 1982 earned and unused vacation and sick leave amounted
to approximately $1,239,372.
(g) Budgetary Data
The City adopts an annual budget prepared on the modified accural
basis consistent with generally accepted accounting principles for
governmental funds.
(h) Self-Insurance
The City is self-insured for general liability and workers'
compensation claims up to $100,000, and purchases outside insurance
coverage for individual claims in excess of that amount.
(i) Memorandum Only Totals
Columns in the accompanying financial statements captioned "Total
(Memorandum Only)" are not necessary for a fair representation of the
financial statements in accordance with generally accepted accounting
principles, and are presented as additional analytical data.
(j) Encumbrances
In accordance with Statement 1 of the National Council on Governmen-
tal Accounting, encumbrances outstanding at year end are reported as
reservations of fund balances of the governmental funds since they do
not constitute expenditures or liabilities.
(2) Prior Period Adjustment
During 1982, the City's Housing and Urban Development Fund was audited
for compliance for the three year period ended June 30, 1981. As a result
of the audit findings, adjustments in the amount of $58,649 are required
to the beginning fund balance at July 1, 1981.
This adjustment reflects a net increase of expenditures of $58,649
applicable to prior periods and consequently reduces fund balance in the
same amount.
24
CITY OF CARLSBAD
Notes to Combined Financial Statement, Continued
(3) Residual Equity Transfers
Residual equity transfers of governmental funds represent additions to or
deductions from beginning fund balances for residual balances of discon-
tinued funds. Residual Equity Transfers are summarized as follows:
Increase (decrease) in fund balance:
Contribution of Capital to
Workers' Compensation and
General Liability Self-
Insurance Fund
Conversion and transfer of
Deposit from Agency Fund
to Bristol Cove Capital
Project Fund
Total
General
Fund
$<500,000>
Capital Project
Fund Type Total
188,263
$<50Q,000>188,263
<500,000>
188,263
<311,737>
(4) Cash and Cash Equivalents
A summary of cash and cash equivalents as of June 30, 1982 follows:
Interest Rates Cost
Cash
Certificates of Deposit
Miscellaneous Investments
Banker's Acceptance Notes
Federal Agency Notes
Repurchase Agreements
13.75
12.47
13.60
13.65
10.75
15.75%
13.02%
13.75%
14.50%
15.75%
$ 173,019
9,535,685
185,584
1,959,565
1,040,000
600,870
$13,494,723
f
I
I
I
3
1
3
25
$ 1,386,810
1,635,993
4,964,222
2,388,208
$10,375,233
4,180,523
1,326,554
154,596
474,578
6,136,251
25,176
92,780
117,956
5,567,333
2,962,547
5,093,642
2,770,006
16,393,528
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(5) Fixed Assets
A summary of changes in general fixed assets follows:
Balance Balance
July 1, 1981 Additions Deductions June 30, 1982
Land
Buildings
Other
Improvements
Furniture and
Equipment
TOTAL
A summary of enterprise property, plant and equipment at June 30, 1982
follows:
Balance Balance
July 1, 1982 Additions Deductions June 30, 1982
Land, water rights and
rights of way $ 231,956 $ 231,956
Buildings 37,964 37,964
Wells, reservoirs and dams 1,289,853 1,289,853
Transmission and distri-
bution lines 3,819,135 60,554 3,879,689
Purification, pumps and
booster stations 147,349 147,349
Fire hydrants 312,665 13,991 326,656
Equipment and vehicles 244,797 13,642 262 258,177
Fire protection services -0- 3,916 3,916
Construction in progress 63,769 12,598 9,550 66,817
6,147,488 104,701 9,812 6,242,377
Less Accumulated Depreciation <1,632,993> <1,778,688>
Total $4,514,495 104,701 9,812 4,463,689
26
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
1
(6)Long-Term Debt
A summary of Revenue Bonds Payable - Proprietary (Water Enterprise)
Fund is as follows:
Balance
June 30, 1982
1958 Waterworks Revenue Bonds, principal due in amounts
ranging from $35,000 to 47,000 on July 1 of each year
through 1988 (Interest is payable on January 1 and July 1
at each year at varying rates from 4.25% to 4.10%)
1960 Waterworks Revenue Bonds, principal due in amounts
ranging from $10,000 to 65,000 on July 1 of each year
through 1990 (Interest is payable on January 1 and July 1
at each year at varying rates from 4.25% to3.875%)
1970 Waterworks Revenue Bonds, principal due in amounts
ranging from $55,000 to $100,000 on July 1 of each year
through 1990 (Interest is payable on January 1 and July 1
at each year at varying rates from 6.% to 6.9%)
Total revenue bonds payable
Less unamortized discount
Less current portion
Total
$ 257,000
195,000
690,000
1,142,000
9,317
<115,000>
1,017,683
A summary of changes in general obligation bonds payable is as follows:
Balance Balance
July 1, 1981 Additions Payment June 30, 1982
1962 Series A Sewer Bonds,
principal due in amounts
ranging from $30,000 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) $ 280,000 -0-30,000 250,000
1962 Series B 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%)560,000 -0-40,000 520,000
27
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
A summary of changes in general obligation bonds payable is continued as
follows:
Balance
July 1, 1981 Additions Payment
Balance
June 30, 1982
1962 Series C Sewer Bonds,
principal due in amounts
ranging from $15,000 to
$25,000 on July 1 of each
year through 1991 (Interest
is payable on January 1 and
July 1 at rates varying from
3.6% to 3.75%)
1966 Library Bonds, Principal
due in amounts ranging from
$10,000 to $25,000 on July 1
of each year through 1992
(Interest is payable on
January 1 and July 1 at
$225,000 -0-20,000 205,000
4.5% per
Debt
Fiscal
Year
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
annum)
Total
180,000 -0- 10,000
1,245,000 -0- 100,000
170,000
1,145,000
Service requirement to maturity:
Sewer
Interest
Due July
4,375
3,675
2,975
2,275
1,575
875
Schedule.of 1962 General Obligation
Bonds, Series A, Debt Service to Maturity
Interest Total Principal
1 Due January 1 Interest Due July 1
3,675 8,050 40,000
2,975 6,650 40,000
2,275 5,250 40,000
1,575 3,850 40,000
875 2,450 40,000
-0- 875 50,000
Total Annual
Debt Service
48,050
46,650
45,250
43,850
42,450
50,875
TOTAL $ 15,750 11,375 27,125 250,000 277,125
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
TOTAL
TOTAL
Schedule of 1962 General Obligation
Sewer Bonds, Series B, Debt Service to Maturity
Fiscal
Year
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
Interest
Due July 1
9,280
8,580
7,880
7,180
6,480
5,760
5,040
3,420
1,800
Interest
Due January 1
8,580
7,880
7,180
6,480
5,760
5,040
3,420
1,800
-0-
Total
Interest
17,860
16,460
15,060
13,660
12,240
10,800
8,460
5,220
1,800
Principal
Due July 1
40,000
40,000
40,000
40,000
40,000
40,000
90,000
90,000
100,000
Total Annual
Debt Service
57,860
56,460
55,060
53,660
52,240
50,800
98,460
95,220
101,800
$ 55,420 46,140 101,560 520,000 621,560 3
Schedule of 1962 General Obligation
Sewer Bonds, Series C, Debt Service to Maturity
Fiscal
Year
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
Interest
Due July 1
3,798
3,437
3,078
2,707
2,338
1,875
1,406
937
469
Interest
Due January 1
3,437
3,078
2,707
2,338
1,875
1,406
938
469
-0-
Total
Interest
7,235
6,515
5,785
5,045
4,213
3,281
2,344
1,406
469
Principal
Due July 1
20,000
20,000
20,000
20,000
25,000
25,000
25,000
25,000
25,000
Total Annual
Debt Service
27,235
26,515
25,785
25,045
29,213
28,281
27,344
26,406
25,469
I
I
1
$ 20,045 16,248 36,293 205,000 241,293
3
29
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
Schedule of 1966 General Obligation
Library Bond Debt Service to Maturity
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
1991-92
Interest
Due July 1
$ 3,825
3,488
3,150
2,812
2,475
2,138
1,800
1,462
1,013
562
Interest
Due January 1
3,825
3,488
3,150
2,812
2,475
2,138
1,800
1,462
1,013
562
Total
Interest
7,650
6,976
6,300
5,624
4,950
4,276
3,600
2,924
2,026
1,124
Principal
Due July 1
15,000
15,000
15,000
15,000
15,000
15,000
15,000
20,000
20,000
25,000
Total Annual
Debt Service
22,650
21,976
21,300
20,624
19,950
19,276
18,600
22,924
22,026
26,124
TOTAL $ 22,725 22,725 45,450 170,000 215,450
m
m
(7) Obligations Under Capital Leases
In 1967 the Carlsbad Building Authority was created under a joint powers
authority with the City and the County of San Diego for the purpose of
financing construction at the Carlsbad Civic Center. The joint powers
agreement provides that the City will lease the Civic Center for 40 years
through 2007 at an annual adjusted base rental of $36,000. In addition,
the City is required to pay all taxes, assessments and other expenses of
the authority which relate to the Civic Center. The City's leasehold
interest of $460,201 in the Civic Center facilities represents the present
value at 6% interest of annual payments to the authority over the entire
life of the lease. The purchase price is recorded in the general fixed
assets of the City.
In 1981 the City entered into an agreement with the City of Oceanside to
lease public parking area surrounding a regional shopping area. Under the
terms of the agreement the City of Carlsbad agreed to pay an aggregate
amount of $700,040 including interest of 10%. The annual 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 inter-
est of $430,152 has been recorded in the City's general fixed assets.
m
•
30
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
In 1978 the City participated with the City of Oceanside for purchase of
an automated circulation system for their respective libraries. The
City's leasehold interest of $102,025 is recorded in general fixed assets.
The lease purchase requires annual payments of principal of $15,845
through 1983 with interest at 5 1/2 % per annum.
In 1981 the City entered into leases for use of certain data processing and
word processing equipment. The City's leasehold interests of $123,295 and
$72,790 for data processing and word processing equipment, respectively,
have been recorded in the general fixed asset group of accounts. The
lease agreement for data processing equipment requires monthly payments of
principal and interest at 10% per annum of $2,598 per month through
February 1987. The lease agreement for word processing equipment requires
monthly payments of principal and interest at 10% of $1,547 through March
1986.
The following is a summary by years of future minimum lease payments under
capital leases with the present value of minimum lease payments at June
30, 1982:
Year Ending June 30 Total Lease Payments
1983 $ 173,326
1984 172,453
1985 155,738
1986 154,191
1987 126,784
1988 - 2007 1,000,040
Total minimum lease payments 1,782,532
Less amount representing interest 888,631
Present value of minimum lease payments $ 893,901
(8) Rentals Under Operating Leases
Under an agreement dated August 1969, the City of Carlsbad has leased from
the Parking Authority of the City of Carlsbad off street parking facilities
surrounding the East Section of Plaza Camino Real Shopping Center. The
City has agreed to pay an annual rental of $138,400 plus taxes, insurance
and other operating costs. The lease terminates on the date the revenue
bonds issued by the Parking Authority have been retired or provision for
payments made. Bonds of the Parking Authority are scheduled to be retired
annually through 1995.
31
CITY OF CARLSBAD
Ml
HI Notes to Combined Financial Statements, Continued
^ In December 1980, the City entered into a second lease agreement with the
Carlsbad Parking Authority for the purpose of the Authority acquiring a
UP site and offstreet parking improvements thereon. The City's obligation
for an annual rental amount commenced on April 1, 1981 in an annual amount
"* of $174,000 payable in quarterly payments each January 31, April 30, July
31, and October 31 through 2001.in
H During 1972, the City entered into an agreement with the Tri-City Auto
Dealers Association for the construction of a road and subsequent use by
mi the City. The City is obligated to pay an annual rental of $54,658
through 1983 subject to certain conditions to be met by the Association.
The following is a schedule by years of minimum future rentals for the
City's operating leases at June 30, 1982.
Year Ending June 30 Amount
m 1983 $ 367,058
1984 312,400
«* 1985 312,400
1986 312,400
m 1987 312,400
1988 - 2001 3,470,686
$5,087,344
m Rental expense charged to general fund expenditures in 1982 was $210,458.
•
m (9) Retirement Plan
The City is a participant in the Public Employees Retirement System (PERS)
of the State of California covering all the City's permanent employees.
The total pension expense of the City for the current year was $1,215,769
Hi for current and past service costs. Pension costs are recorded as
expenditures when paid and are funded by monthly contributions to PERS.
* Contributions are based on rates set by PERS based on certain actuarial
g| assumptions, such as length of employment, estimated salary rates,
mortality rates, projected retirement benefits and other factors. At June
_ 30, 1981, the plan net assets available for benefits totaled $7,143,877 and
y the present value of the City's unfunded obligation for prior service costs
•* totaled $87,196 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
Ml in the PERS pension fund is not determinable under the PERS system of
accounting.
32
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued ^^
^J
(10) Excess of Expenditures over Appropriations
Expenditures exceeded appropriations in the following funds: T
Excess of Expenditures
Expenditures Appropriations Over Appropriations I
Special Revenue Funds:
Library Service Act $ 13,353 12,435 918
National Endowment
for Humanities 1,751 -0- 1,751
Debt Service Funds:
Sewer Bonds $128,235 124,570 3,665
(11) Fund Balances/Retained Earnings
The following is a summary of reserved and unreserved fund balances and
retained earnings:
Totals
Governmental Fund Types (Memorandum Only)
Special Debt Capital June 30 / June 3ti*"7
General Revenue Service Projects 1982 1981
Fund balances:
Reserved for encumbrance 228,136 119,256 36,376 383,768 964,426
Reserved for inventory
supplies 5,150 5,150
Reserved for advances to
other funds 12,544 12,544 16,725
Reserved for advances to
the Carlsbad Redevelopment
Agency. 235,050 235,050 181,928
Reserved for debt service 123,248 123,248 142,033
Unreserved:
Designated for approved
capital projects 1,131,783 3,774,786 4,906,569 4,906,569|
Undesignated 2,125,783 899,497 3,025,280 4,599,69?"
Total Fund Balances 480,880 3,376,822 123,248 4,710,659 8,691,609 10,811,378
33
p
m
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
m
m
Proprietary Fund Types
Internal
Enterprise Service
Retained Earnings:
Reserved for continuing
appropriations
Reserved for construction
Reserved for debt service
Unreserved
Total Retained Earnings
Totals
(Memorandum only)
June 30 , June 30 ,
1982 1981
474,080
527,161
883,998
2,541,970
4,427,209
<137,229>
<137,229>
474,080
527,161
883,998
2,404,741
4,289,980
2,069,000
382,715
837,438
646,313
3,935,466
The following funds reported deficits in their respective fund balances
at June 30, 1982:
Workers' compensation (internal service fund)
General liability self-insurance (internal
service fund)
Amount of Deficit
to Fund Balance
$ 11,706
125,523
(12) Deferred Compensation Plan
The City has established a deferred compensation plan, whereby City employ-
ees may elect to defer portions of their compensation in return for retire-
ment, disability and death benefits. Amounts deferred may not exceed the
lesser of $7,500 or 25% of a participant's "includable compensation", as
defined in the participation agreement. The City makes no contribution to
the plan. Plan assets were invested during the year in short-term
certificates of deposit. At June 30, 1982, the amount of the deferred com-
pensation investments (and the resultant liability recorded in the General
Fund) was $142,723. Distributions are made upon the occurrence of the
participant's termination, retirement, death or total disability, and in a
manner in accordance with the election made by the participant. All City
employees are eligible for plan participation.
(13) Contingent Liabilities
The City is a defendant in certain legal actions arising in the normal
course of operations. In the opinion of rranagement and legal counsel, anv
liability resulting from these actions will not result in a material
adverse effect on the City's financial position.
34
3
CITY OF CARLSBAD |f
Notes to Combined Financial Statements, Continued
(14) Advances to The Redevelopment Agency (RDA)
Advances to the Redevelopment Agency represents $235,050 due from the
Carlsbad Redevelopment Agency in connection with Carlsbad Village
Redevelopment Plan. The Agency is expected to repay the $235,050 and
subsequent advances in accordance with a cooperation agreement between the
Agency and the City of Carlsbad. The agreement establishes a repayment
schedule and a 10% interest rate on all advances. Repayment is expected to
begin when tax increment funds are received by the Agency.
I
3
3
35 1
SUPPLEMENTAL DATA
36
CITY OF CARLSBAD
General Fund
Schedule of Revenues
Year ended June 30, 1982
3
Taxes:
Property taxes
Sales and use taxes
Transient lodging taxes
Franchise taxes
Real property transfer taxes
Cigarette taxes
Trailer coach in-lieu tax
Other
Total taxes
Licenses and permits:
Alcoholic beverage licenses
Vehicle licenses (in-lieu)
Construction permits
Business licenses
Other
Total licenses and permits
Intergovernmental:
Grants
Total intergovernmental
Charges for services:
Zoning and subdivision fees
Sales of maps and publications
Plan checking fees
Engineering fees
Library fees
Ambulance fees
Refuse collection fees
Other
Total charges for services
Fines and forfeits:
Vehicle code fines
Other
Total fines and forfeits
Interest income
Miscellaneous:
Reimbursed expenditures
Sale of property
Rents
Other
Total miscellaneous
Total Revenues
See accompanying accountants' report
Budget
$ 3,734,000
3,762,000
675,000
292,000
100,000
155,000
50,000
-0-
8,768,000
-0-
340,000
400,000
285,000
-0-
1,025,000
-0-
-0-
65,700
20,500
300,000
200,000
10,000
55,000
359,000
126,300
1,136,500
210,000
-0-
210,000
1,000,000
35,000
12,000
13,000
30,000
90,000
$12,229,500
Actual
$ 3,637,433
3,941,152
734,344
288,956
100,676
156,339
48,338
746
8,907,984
-0-
265,222
271,542
258,663
712
796,139
95,632
95,632
85,840
19,562
358,863
210,513
13,511
47,609
433,035
214,133
1,383,066
235,871
24,627
260,498
1,217,863
54,993
8,700
7,969
4,301
75,963
12,737,145
Variance
Favorable
(Unfavorable)
$ <96,567>
179,152
59,344
<3,044>
676
1,339
<1,662>
746
139,984
-0-
<74,778>
<128,458>
<26,337>
712
<228,861>
95,632
95,632
20,140
<938>
58,863
10,513
3,511
<7,391>
74,035
87,833
246,566
25,871
24,627
50,498
217.863
19,993
<3,300>
<5,031>
<25,699>
<14,037>
507,645
37
CITY OF CARLSBAD
General Fund
Schedule of Expenditures
Year ended June 30, 1982
General government:
City Council
City Manager
City Clerk
Administration
City Attorney
Finance
City Treasurer
Central Services
Purchasing
Personnel
Planning
Insurance Administration
Community promotion
Senior Citizens programs
Leases
Weed abatement
Retirement
Contingencies
Capital improvements
Urban redevelopment and housing
Building maintenance
Other
Total general government
Public safety:
Fire protection
Police Protection
Building inspection
Total public safety
Public works:
Administration
Utilities maintenance
Engineering
Streets
Mechanical maintenance
Waste collection
Sanitation services
Total public works
Culture and recreation:
Parks and recreation
Library
Total culture and recreation
Budget Actual
Variance
Favorable
(Unfavorable)
52,536
207,401
18,250
-0-
142,004
212,251
3,910
371,504
52,812
172,200
577,550
245,846
45,045
37,825
420,525
15,515
-0-
679,136
17,436
166,115
144,611
45,925
3,628,397
2,004,568
2,582,330
436,888
5,023,786
53,169
34,504
637,427
1,007,748
8,500
-0-
330,855
2,072,203
1,426,316
978,410
2,404,726
$ 35,635
203,812
7,349
-0-
148,044
186,797
3,562
335,099
48,242
164,455
536,809
125,458
45,045
37,825
473,164
8,180
-0-
-0-
28,742
110,933
136,929
40,472
2,676,552
1,942,792
2,512,207
433,850
4,888,849
40,119
35,022
553,244
753,617
3,413
-0-
429,498
1,814,913
1,363,226
939,917
2,303,143
$ 16,901
3,589
10,901
-0-
<6,040>
25,454
348
36,405
4,570
7,745
40,741
120,388
-0-
-0-
<52,639>
7,335
-0-
679,136
<11,306>
55,182
7,682
5,453
951,845
61,776
70,123
3,038
134,937
13,050
<518>
84,183
254,131
5,087
-0-
<98,643>
257,290
63,090
38,493
101,583
Total Expenditures $13,129,112 11,683,457 1,445,655
See accompanying accountants' report
38
CITY OF CARLSBAD
Special Revenue Funds
Combining Balance Sheet
June 30, 1982
Library
Services
Gas Tax Act
Assets
Cash and cash equivalents $903,495 95,303
Receivables:
Taxes
Accounts 31,052
Accrued interest 3,036 705
Due from other funds
Due from other governments
Total assets $937,583 96,008
Liabilities and Fund Balances
Liabilities:
Accounts Payable 360
Accrued wages payable
Advance from General Fund
Due to other funds
Due to other governments
Deferred revenue
Total liabilities 360
Fund balances:
Reserved for
encumbrances 5,000
Unreserved:
Designated for approved
capital projects 180,939
Undesignated 751,644 95,648
Total fund
balances 937,583 95,648
Total liabilities
and fund balances $937,583 96,008
National En-
dowment for
Humanities Sanitation
2,730 188,931
26,090
2,234
2,730 217,255
750 2,451
3,102
750 5,553
721
1,980 210,981
1,980 211,702
2,730 217,255
]
3
3
3
See accompanying accountants' report
39
Section 8 Community Totals
State Street Revenue Housing Development June 30, June 30,
Grants Lighting Sharing Authority Block Grant 1982 1981
37,154
40,000
496
32,161
109,811
15,000
94,811
109,811
197,251 1,408,468
10,491
5,913
3,656 30,909
123,295
217,311 1,562,672
4,524 5,886
1,962
12,544
32,161
19,030 38,047
8,775 79,172
709,861
189,506 735,592
198,281 1,524,625
264,810
17
264,827
51,311
557
51,868
212,959
212,959
Hi
5,771
79,189
84,960
727
727
10,588
240,983
109,811 217.311 1,562,672 264,827 84,960
10,491
182,261
41,036
155,456
119,256
1,131,783
2,125,783
3,103,913 2,775,662
24,351
10,634
56,283
21,628
23,795
3,493,157 2,912,353
65,282
6,348
12,544
32,161
116,335
167,648
3,047
16,725
23,661
201,003
412,084
644,951
1,131,783
723,535
84,233 3,376,822 2,500,269
3,493,157 2,912,353
40
CITY OF CARLSBAD
Special Revenue Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance
Year ended June 30, 1982
Hi
Revenues:
Taxes
Intergovernmental
Charges for services
Interest income.:*=*^£*
Total revenues
Expenditures:
General government
Public works
Culture and
recreation
Welfare
Total expenditures
Excess (deficiency)
of revenues over
expenditures
Fund balance at beginning
of year as previously
reported
Prior period adjustment
Fund balance at beginning
of year as adjusted
Residual equity transfers
Fund balance at end of year
Gas Tax
$306,759
12,612
78,587
397,958
135,259
674,884
$937,583
Library
Services
Act
63,040
4,745
67,785
National En-
dowment for
Humanities Sanitation
41,216
95,648
3,015
_ ]_2
3,027
704
1,980
603,734
15,758
619,492
560,509
135,259
262,699
674,884
13,353
13,353
54,432
41,216
1,751
1,751
1,276
704
560,509
58,983
152,719
152,719
211,702
See accompanying accountants' report
41
Totals
State
Grants
72,161
4,124
76,285
Street
Lighting
449,136
164,751
5,385
619,272
415,316
415,316
Revenue
Sharing
482,011
170,737
652,748
172,507
50,538
414,096
637,141
Section 8
Housing
Authority
813,557
14,549
828,106
650,202
650,202
Community
Development
Block Grant
168,464
1,495
169,959
85,899
85,899
Year
June 30,
1982
755,895
1,779,611
603,734
295,392
3,434,632
172,507
1,247,521
429,200
650,202
2,499,430
Ended
June 30,
1981
627,066
1,084,137
596,332
305,525
2,613,060
79,083
1,440,750
611,891
608,009
2,739,733
76,285 203,956 15,607 177,904 84,060
33,526 <5,675> 1,509,018 93,704
<58,649>
33,526 <5,675> 1,509,018 35,055
173
173
935,202 <126,673>
109,811 198,281 1,524,625 212,959
2,500,269 2,322,361
<58,649> 130,895
2,441,620 2,453,256
173,686
84,233 3,376,822 2,500,269
42
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Budget
Revenues:
Taxes $ 295,000
Intergovernmental revenues
Charges for services
Interest income 30,000
Total Revenues 325,000
Expenditures:
General government
Public Safety
Public Works 321,216
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures 321,216
Excess (deficiency) of revenues
over expenditures 3,784
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses 3,784
Fund balances at beginning of year as
previously reported 674,884
Prior period adjustment
Fund balances at beginning of year
as adjusted 674,884
Residual equity transfers from (to)
other funds
Fund balance at end of year 678,668
Gas Tax Fund
Actual
306,759
12,612
78.587
397,958
135,259
135,259
262,699
262,699
674,884
674,884
937,583
Variance
favorable
(unfavorable)
11,759
12,612
48,587
72,958
185,957
185,957
258,915
258,915
3
258,915
See accompanying accountants' report
43
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Revenues:
Taxes
Intergovernmental revenues
Charges for services
Interest income
Total Revenues
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating Transfers in(out)
Budget
12,435
12,435
O2.435 >
Library Services Act
Actual
63,040
4,745
67,785
13,353
13.353
54,432
Variance
favorable
(unfavorable)
63,040
4,745
67,785
<918>
<918>
66,867
Excess (deficiency) of revenues
•_ and other sources over expend-
itures and other uses <12,435> 54,432
Fund balances at beginning of year as
previously reported 41,216 41,216
"* Prior period adjustment
ft Fund balances at beginning of year
as adjusted 41,216 41,216
m Residual equity transfers from (to)
_l other funds
m Fund balance at end of year 28,781 95,648
66,867
66,867
f\ee accompanying accountants' report
W*
44
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
National Endowment for Humanities
Revenues:
Taxes $
Intergovernmental revenues
Charges for services
Interest income
Total Revenues
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses
Fund balances at beginning of year as
previously reported
Prior period adjustment
Fund balances at beginning of year
as adjusted
Residual equity transfers from (to)
other funds
Fund balance at end of year
Budget
704
704
704
Actual
3,015
12
3,027
1,751
1,751
1,276
1,276
704
704
1,980
Variance
favorable
(unfavorable)
3,015
12
3,027
1,751
1,751
1,276
1,276
1,276
J
I
See accompanying accountants' report
45
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Budget
Revenues:
Taxes $
Intergovernmental revenues
M Charges for services 636,000
Interest income 3,000
m Total Revenues 639,000
M Expenditures:
General government
m Public Safety
Public Works 695.7129HHWelfare
to Culture and recreation
Capital projects
«"• Debt service expenditures:
Principal retirement
W*" Interest and fiscal charges
pt
Total Expenditures 695,712
*i Excess (deficiency) of revenues
over expenditures <56,712>
*0ther financing sources (uses):
Hi Operating Transfers in(out)
mm Total other financing sources(uses)
£H Excess (deficiency) of revenues
and other sources over expend-
itures and other uses <56,712>
••Fund balances at beginning of year as
previously reported 152,719
PPrior period adjustment
lyFund balances at beginning of year
as adjusted 152,719
pftesidual equity transfers from (to)
other funds
Fund balance at end of year 96,007
Sanitation
Actual
603,734
15,758
619,492
560,509
560,509
58,983
58,983
152,719
152,719
211,702
Variance
favorable
(unfavorable)
<32,266>
12,758
<19,508>
135,203
135,203
115.695
115,695
115,695
See accompanying accountants' report
46
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Revenues:
Taxes $
Intergovernmental revenues
Charges for services
Interest income
Total Revenues
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses
Fund balances at beginning of year as
previously reported
Prior period adjustment
Fund balances at beginning of year
as adjusted
Residual equity transfers from (to)
other funds
Fund balance at end of year
Budget
33,526
33,526
33,526
State Grants
Actual
72,161
4,124
76,285
76,285
76,285
33,526
33,526
109,811
Variance
favorable
(unfavorable)
72,161
4,124
76,285
76,285
76,285
-0-
-0-
76,285
See accompanying accountants' report
47
p
m
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Budget
Revenues:
m Taxes $ 449,900
Intergovernmental revenues
Charges for services
Interest income
m Total Revenues 449,900
P" Expenditures:
fc General government
Public Safety
„ Public Works 612,545
Welfare
** Culture and recreation
Capital projects
*"* Debt service expenditures:
Principal retirement
**-"" Interest and fiscal charges
Total Expenditures 612,545
Excess (deficiency) of revenues
over expenditures <162,645>
Other financing sources (uses):
• Operating Transfers in(out)
•* Total other financing sources(uses)
m
Excess (deficiency) of revenues
m and other sources over expend-
itures and other uses <162,645>
Fund balances at beginning of year as
previously reported <5,675>
" Prior period adjustment
H Fund balances at beginning of year
as adjusted <5,675>
•• Residual equity transfers from (to)
_ other funds
_ Fund balance at end of year <168,320>
Street Lighting
Actual
449,136
164,751
5,385
619,272
415,316
415,316
203,956
203,956
<5,675>
<5,675>
198,281
Variance
favorable
(unfavorable)
<764>
164,751
5.385
169,372
197,229
197,229
366,601
366,601
366,601
accompanying accountants' report
48
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30,1982
Revenue Sharing
Revenues:
Taxes
Intergovernmental revenues
Charges for services
Interest income
Total Revenues
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses
Fund balances at beginning of year as
previously reported
Prior period adjustment
Fund balances at beginning of year
as adjusted
Residual equity transfers from (to)
other funds
Fund balance at end of year
See accompanying accountants' report
Budget
$
440,000
100,000
540,000
1,246,000
224,000
518,072
1,988,072
<1,448,072>
Actual
482,011
170,737
652,748
172,507
50,538
414,096
637,141
15,607
Variance
favorable
(unfavorable)
42,011
70,737
112,748
1,073,793
173,462
103,676
1,350,931
1,463,679
s)
<1,448,072>
1,509,018
1,509,018
60,946
15,607
1,509,018
1,509,018
1,524,625
1,463,679
1,463,679
3
I
3
3
1
49 3
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Housing Authority - Section 8
Budget
Revenues:
Taxes $
Intergovernmental revenues 816,200
Charges for services
Interest income
Total Revenues 816,200
Expenditures:
General government
Public Safety
Public Works
Welfare 816,156
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
-" Interest and fiscal charges
Total Expenditures 816,156
Excess (deficiency) of revenues
over expenditures 44
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses 44
Fund balances at beginning of year as
previously reported 93,704
Prior period adjustment
Fund balances at beginning of year
as adjusted 93,704
Residual equity transfers from (to)
other funds
Fund balance at end of year 93,748
Actual
813,557
14,549
828,106
650,202
650,202
177.904
177,904
93,704
<58,649>
35,055
212,959
Variance
favorable
(unfavorable)
<2,643>
14,549
11,906
165,954
165.954
177,860
177,860
<58,649>
<58,649>
119,211
See accompanying accountants' report
50
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Community Development Block Grant
Budget
Revenues:
Taxes $
Intergovernmental revenues 38,280
Charges for services
Interest income
Total Revenues 38,280
Expenditures:
General government
Public Safety
Public Works 422,413
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures 422,413
Excess (deficiency) of revenues
over expenditures <384,133>
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses <384,133>
Fund balances at beginning of year as
previously reported 173
Prior period adjustment
Fund balances at beginning of year
as adjusted 173
Residual equity transfers from (to)
other funds
Fund balance at end of year <383,960>
Actual
168,464
1,495
169,959
85,899
85,899
84,060
84,060
173
173
84,233
Variance
favorable
(unfavorable)
130,184
1.495
131,679
336,514
336,514
468,193
468,193
468,193
See accompanying accountants' report
51
THIS PAGE INTENTIONALLY LEFT BLANK
52
3
Assets
Cash and cash equivalents
Taxes receivable
Accrued interest receivable
Total assets
CITY OF CARLSBAD
Debt Service Funds
Combining Balance Sheet
June 30, 1982
Library
Bonds
$ 54,040
$ 55,397
Sewer
Bonds
64,427
1,444
1.357 1,980
67,851
Totals I
June 30,
1982
118,467
1,444
3,337
June 30,
1981
129,198
9,462
3,373
123,248 142,033
Liabilities and Fund Balances
Fund balance - reserved for debt service
Total liabilities and fund balances
123,248 142,033
123,248 142,033
See accompanying accountants' report
a
53
CITY OF CARLSBAD
Debt Service Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Year ended June 30, 1982
Library
Bonds
Sewer
Bonds
Totals
Year Ended
June 30,
1982
June 30,
1981
Revenues:
Taxes
Interest income
Total revenues
4,899
4,899
107,297
15,179
122,476
107,297
20,078
127,375
113,036
13,549
126,585
Expenditures:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balances at end of year
10,000
7,925
90,000
38,235
17,925 128,235
<13,026> <5,759>
68,423 73.610
$ 55,397 67,851
100,000
46,160
146,160
95,000
49,600
144,600
<18,015>
160,048
142,033
See accompanying accountants' report
54
CITY OF CARLSBAD
Debt Sevice Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Budget
Revenues:
Taxes $
Intergovernmental revenues
Charges for services
Interest income 9,000
Total Revenues 9,000
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement 10,000
Interest and fiscal charges 8,100
Total Expenditures 18,100
Excess (deficiency) of revenues
over expenditures <9,100>
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses <9,100>
Fund balances at beginning of year as
previously reported 68,423
Prior period adjustment
Fund balances at beginning of year
as adjusted 68,423
Residual equity transfers from (to)
other funds
Fund balance at end of year 59,323
Library Bonds
Actual
4,899
4,899
10,000
7.925
17,925
<13,026>
<13,026>
68,423
68,423
55,397
Variance
favorable
(unfavorable)
175
175
<3.926>
<3,926>
<3,926>
See accompanying accountants' report
55
CITY OF CARLSBAD
Debt Service Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Budget
Revenues:
Taxes $ 127,500
Intergovernmental revenues
Charges for services
Interest income 2,500
Total Revenues 130,000
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses 5,430
Fund balances at beginning of year as
previously reported 73,610
Prior period adjustment
'Fund balances at beginning of year
as adjusted 73,610
'Residual equity transfers from (to)
i other funds
iFund balance at end of year 79,040
Sewer Bonds
Actual
107,297
15,179
122,476
124,570
124,570
5,430
90,000
38,235
128,235
<5,759>
<5,759>
73,610
73,610
67,851
Variance
favorable
(unfavorable)
<20,203>
12,679
<7.524>
34,570
<38,235>
<3,665>
:n,i89>
e accompanying accountants' report
56
CITY OF CARLSBAD
Capital Projects Funds
Combining Balance Sheet
June 30, 1982
I
Assets
Cash and cash equivalents
Accounts receivable
Accrued interest receivable
Due from other funds
Total assets
Capital
Construction
$
3,054,313
$ 3,054,313
Sewer
Construction
137,283
15,500
152,783
I
]
Liabilities and Fund Balances
Liabilities:
Accounts payable
Due to other funds
Total liabilities
13,822
444,785
458,607
Fund balances:
Reserved for encumbrances
Unreserved:
Designated for approved capital projects
Undesignated
Total fund balances
Total liabilities and fund balances
8,863
$
3,353,751
<766,908>
2,595,706
3,054,313
83,535
69,248
152,783
152,783
See accompanying accountants' report
57
Public
Facilities
Construction
Park
Development
Bristol
Cove
Planned
Local
Drainage
Facilities
Totals
June 30,
1982
June 30,
1981
1,185,202
22,013
1,207,215
696,013
696,013
43,824
43,824
28,318
28,318
2,090,640
15,500
22,013
3,054,313
5,179,581
21,068
14,000
5,182,466 5,214,649
13,200
13,200
27,022
444,785
471,807
27,078
27,078
8,575
86,000
1,099,440
1,194,015
1,207,215
18,938
251,500
425,575
696,013
696,013
43,824
43,824
43,824
28,318
28,318
28,318
36,376
3,774,786
899,497
4,710,659
5,182,466
14,375
3,774,786
1,398,410
5,187,571
5,214,649
58
CITY OF CARLSBAD
Capital Projects Funds
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balance
Year ended June 30, 1982
Revenues:
Charges for services
Interest income
Total revenues
Capital
Construction
Sewer
Construction
884,479
8,595
893,074
Expenditures:
Police and Utility Service Center 2,002,162
Macario Canyon 2,085,514
Community Development Center
Encina Water Pollution Control Facility
Other construction projects 125,541
Total expenditures 4,213,217
919,933
57,004
976,937
Excess (deficiency) of revenues
over expenditures
Other financing sources (use):
Operating transfer in (out)
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Effect of change in accounting principles
Fund balance at beginning of year,
as adjusted
Residual equity transfer transfer from (to)
other funds
Fund balance at end of year
<4,213,217>
3,054,313
<1,158,904>
3,754,610
3,754,610
2,595,706
<83,863>
<83,863>
236,646
236,646
152,783
See accompanying accountants' report
59
Public
Facilities
Construction
418,160
108,626
526,786
30,805
30,805
495,981
495,981
698,034
698,034
1,194,015
Park Bristol
Development Cove
158,979
455
158,979 455
88,050
88,050
70,929 455
70,929 455
625,084 <144,894>
625,084 <144,894>
188,263
696,013 43,824
Planned
Local
Drainage
Facilities
9,675
552
10,227
10,227
10,227
18,091
18,091
28,318
Totals
Year
June 30,
1982
1,471,293
118,228
1,589,521
2,002,162
2,085,514
919,933
301,400
5,309,009
<3,719,488>
3,054,313
<665,175>
5,187,571
5,187,571
188,263
4,710,659
Ended
June 30,
1981
2,140,304
100,694
2,240,998
212,362
1,978,565
378,975
2,569,902
<328,904>
<328,904>
5,312,096
204,379
5,516,475
5,187,571
60
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Capital Construction
Revenues:
Taxes
Intergovernmental revenues
Charges for services
Interest income
Total Revenues
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures
Budget Actual
-0--0-
5,288,293 4,213,217
4,213,2175,288,293
Excess (deficiency) of revenues
over expenditures <5,288,293> <4,213,217>
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
3.054,313
3,054,313
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses
Fund balances at beginning of year as
previously reported
Prior period adjustment
Fund balances at beginning of year
as adjusted
Residual equity transfers from (to)
other funds
Fund balance at end of year
<5,288.293> <1,158,904>
3,754,610 3,754,610
3,754,610 3,754,610
Variance
favorable
(unfavorable)
-0-
1,075,076
1,075,076
1.075,076
3,054.313
3.054,313
4.129,389
<1,533,683> 2,595,706 4,129,389
See accompanying accountants' report
61
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30,1982
Sewer Construction
• Budget
Revenues:
m Taxes $
Intergovernmental revenues
Charges for services 1,532,000
Interest income 20,000
• Total Revenues 1,552,000
* Expenditures:
General government
Public Safety
„, Public Works
Welfare
*• Culture and recreation
Capital projects 1,991,197
** Debt service expenditures:
Principal retirement
'***" Interest and fiscal charges
m
Total Expenditures 1,991,197
Excess (deficiency) of revenues
over expenditures <439,197>
Other financing sources (uses):
<• Operating Transfers in(out)
* Total other financing sources(uses)
Excess (deficiency) of revenues
m and other sources over expend-
itures and other uses <439,197>
Fund balances at beginning of year as
previously reported 236,646
Prior period adjustment
H Fund balances at beginning of year
as adjusted 236,646
Ml Residual equity transfers from (to)
_« other funds
Actual
884,479
8,595
893.074
976,937
976,937
<83,863>
Fund balance at end of year <202,551>
<83,863>
236,646
236,646
152,783
Variance
favorable
(unfavorable)
<647,521>
<11,405>
<658,926>
1,014,260
1,014,260
355,334
355,334
355,334
,§ee accompanying accountants' report
62
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30,
Public
1982
Facilities Construction
Budget
Revenues:
Taxes $
Intergovernmental revenues
Charges for services 1,150,000
Interest income 150,000
Total Revenues 1,300,000
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects 504,375
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures 504,375
Excess (deficiency) of revenues
over expenditures 795,625
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses 795,625
Fund balances at beginning of year as
previously reported 698,034
Prior period adjustment
Fund balances at beginning of year
as adjusted 698,034
Residual equity transfers from (to)
other funds
Fund balance at end of year 1,493,659
Actual
418,160
108,626
526,786
30,805
30.805
495,981
495,981
698,034
698,034
1,194,015
Variance
favorable
(unfavorable)
<731,840>
<41,374>
<773,214>
473,570
473.570
<299,644>
<299,644>
<299,644>
3
3
3
See accompanying accountants' report
63
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Park Development
Budget
Revenues:
Taxes $
Intergovernmental revenues
" Charges for services 300,000
Interest income
m Total Revenues 300,000
w Expenditures:
General government
l* Public Safety
Public Works
Welfare
MI Culture and recreation
Capital projects 186,500
• Debt service expenditures:
Principal retirement
"•W Interest and fiscal charges
m
Total Expenditures 186,500
** Excess (deficiency) of revenues
over expenditures 113,500
Other financing sources (uses):
• Operating Transfers in(out)
MI Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses 113,500
• Fund balances at beginning of year as
previously reported 625,084
** Prior period adjustment
H Fund balances at beginning of year
as adjusted 625,084
MJ Residual equity transfers from (to)
other funds
Fund balance at end of year 738,584
m
See accompanying accountants' report
Actual
158,979
158,979
88,050
88,050
70,929
70,929
625,084
625,084
696,013
Variance
favorable
(unfavorable)
141,021
98,450
98,450
<42,571>
<42,571>
<42,571>
64
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Bristol Cove
Revenues:
Taxes $
Intergovernmental revenues
Charges for services
Interest income
Total Revenues
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses
Fund balances at beginning of year as
previously reported
Prior period adjustment
Fund balances at beginning of year
as adjusted
Residual equity transfers from (to)
other funds
Fund balance at end of year
Budget Actual
Variance
favorable
(unfavorable)
455
455
455
455
<144,894>
<144,894>
455 455
455 455
<144,894>
<144,894>
<144,894>
188.263
43,824
188,263
188,718
3
3
See accompanying accountants' report
65 I
m
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1982
Planned Local Drainage Facility
m
m
m
m
m
m
Revenues:
Taxes $
Intergovernmental revenues
Charges for services
Interest income
Total Revenues
Expenditures:
General government
Public Safety
Public Works
Welfare
Culture and recreation
Capital projects
Debt service expenditures:
Principal retirement
»"*' Interest and fiscal charges
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating Transfers in(out)
Total other financing sources(uses)
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses
Fund balances at beginning of year as
previously reported
Prior period adjustment
Fund balances at beginning of year
as adjusted
Residual equity transfers from (to)
other funds
Fund balance at end of year
Budget
18,091
18,091
18,091
Actual
9,675
552
10,227
10,227
10,227
18,091
18,091
28,318
Variance
favorable
(unfavorable)
9,675
552
10.227
10,227
10.277
10,227
See accompanying accountants' report
66
Assets
Current assets:
Cash and cash equivalents
Accrued interest receivable
Total current assets
Total assets
Liabilities and Fund Equity
Current liabilities:
Accounts payable
Estimated claims payable
Due to other funds
Total current liabilities
Total liabilities
Contributed capital:
Contributed from Other Funds
Retained earnings (deficit):
Unreserved
CITY OF CARLSBAD
Internal Service Funds
Combining Balance Sheet
June 30, 1982
Totals
Workers'
Compensation
General Liability
Self Insurance
June 30,June 30,
1982 1981
$ 990
151,465
12,397
$ 450,000
<11,706>
Total fund equity 438,294
Total liabilites and fund equity $ 603,146
See accompanying accountants' report
I
I$
$
600,
2,
603,
603,
s^ssssssss
172
974
146
146
u-j—i..a
379,
1,
380,
380,
324
249
573
573
979,
4,
983,
983,
^ssmx^as
496
223
719
719
s=ss=
300
300
300
,000
,000
,000
450,000
56,096
56,096
56,096
990
207,561
12,397
220,948
220,948
97,715
97,715 m
900,000 300,000
<125,523> <137,229> <97,715>
324,477 762,771 202,285
380,573 983,719 300,000
]
3
67 I
CITY OF CARLSBAD
Internal Service Funds
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings
Year ended June 30, 1982
Totals
Operating revenue:
Charges for services
Reimbursed expenditures
Total operating revenue
Operating expenses:
Claims expense
Total operating expenses
Operating income (loss)
Non-operating revenues (expenses)
Interest revenue
Total non-operating
revenue (expense)
Net income (loss)
Retained earnings (deficit) at
beginning of year
Retained earnings (deficit) at
end of year
$ 222,236
6,700
$ 228,936
$ 173,459
$ 173,459
55,477
$ 30,532
$ 30,532
86,009
$ <97,715>
$ <11,706>
General Liability
Self -Insurance
June 30, June 30,
1982 1981
222,236
6,700
135,306
135,306
<135,306>
9,783
9,783
<125,523>
<125,523>
228,936
308,765 97,715
308,765 97,715
<79,829> <97,715>
40,315
40,315
<39,514>
<97,715>
<137,229> <97,715>
See accompanying accountants' report
68
CITY OF CARLSBAD
Internal Service Funds
Combining Statement of Changes in Financial Position
Year ended June 30, 1982
Workers '
Compensation
Totals
Year Ended
General Liability June 30, June 30,
Self-Insurance 1982 1981
1
Sources of working capital:
Operations:
Net Income
Contributions from other funds
Total sources of working capita
Uses of working capital:
Loss from operations
Net increase in working capital
$
$
$
86,
250,
336,
E^SS=3
336,
smsssssss
009
000
009
E=S^E3
009
1 " ~
350,
350,
•"^r "--—• i
<125,
224,
'• — -•
000
000
-— -t-n
523>
477
i—i~^!...a
86
600
686
<125
560
-j
,009
,000
,009
,523>
,486
300,
300,
<97,
202,
000
000
715>
285
Elements of net increase (decrease)
in working capital:
Cash and cash equivalents $ 400,172
Accrued interest receivable 2,974
Estimated claims payable <53,750>
Accounts Payable <990>
Due to other funds <12,397>
Net increase in working capital $ 336,009
279,324
1,249
<56,096>
224,477
679,496
4,223
<109,846>
<990>
<12,397>
560,486
300,000
<97,715>
202,285
See accompanying accountants' report
69
CITY OF CARLSBAD
Agency Funds
Combining Statement of Changes in Assets and Liabilities
Year ended June 30, 1982
Redevelopment Agency Fund
Assets
Total assets
Liabilities
Total liabilities
Balance Balance
July 1, 1981 Additions Deductions June 30, 1982
$ -0-
$ -0-
52,463
52,463
52,463
52,463
-0-
-0-
Payroll Deductions Agency Fund
Assets
Cash and cash equivalents
Liabilities
Accounts payable
Deposits payable
Total liabilities
$ <10,536>9,757,039 9,486,755 259,748
25,458
<35,994>
<10,536>
92,291
9,352,111
9,444,402
115,879
9,058,239
9,174,118
1,870
257,878
259,748
Contractors Deposits Agency Fund
Assets
Cash and cash equivalents $ 693,721
Liabilities
Accounts payable -0-
Deposits payable $ 693,721
Total liabilities $ 693,721
See accompanying accountants' report
892,298 1,169,231 416,788
2,412
63,298
65,710
-0- 2,412
342,643 414,376
342,643 416,788
(Continued)
70
CITY OF CARLSBAD
Agency Funds
Combining Statement of Changes in
Assets and Liabilities, continued
Year ended June 30, 1982
Balance
July 1, 1981 Additions Deductions
Balance i
June 30, 198*
Miscellaneous Deposits Agency Fund
As set s
Cash and cash equivalent
Accrued interest receivable
Total assets
Liabilities
Accounts payable
Deposits payable
Total liabilities
Totals - All Agency Funds
Assets
Cash and cash equivalents
Accrued interest receivable
Total assets
Liabilities
Accounts payable
Deposits payable
Total liabilities
$ 616,326
6,466
$ 622,792
11,170
611,622
622,792
1,246,969
347
1,195,442
6,466
1,247,316 1,201,908
667,853
347
668,200
70,375
675,721
746,096
59,580
641,108
700,688
21,965
646,235
668,200
$
$
$
$
1,299,511
6,466
1,305,977
36,628
1,269,349
1,305,977
11,896,306
347
11,896,653
165,078
10,091,130
10,256,208
11,851,428
6,466
11,857,894
175,459
10,041,990
10,217,449
1,344,389
347
1,344,736
26,247
1,318,489
1,344,736
1
1
1
1
1
See accompanying accountants' report
71
STATISTICAL SECTION
72
CITY OF CARLSBAD
General Expenditures by Function
Last Ten Years
Fiscal
Year
1972-73
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
Total^'
(Memo Only)
$3,629,181
3,878,205
4,841,800
5,540,958
6,916,158
8,608,080
9,566,353
10,958,699
13,837,197
14,329,047
General
Government
1,073,834
1,158,865
1,463,821
1,660,069
2,280,639
2,767,513
3,314,694
3,112,025
4,547,215
2,849,059
Public
Safety
1,031,777
1,269,022
1,458,573
1,561,812
1,869,808
2,592,993
2,634,839
3,058,443
3,407,025
4,888,849
Public
Works
1,027,547
821,212
1,196,512
1,443,009
1,523,376
1,981,274
2,314,667
2,495,741
2,868,460
3,062,434
Culture
Recreation
347,084
472,965
569,791
725,928
1,095,120
1,122,003
1,161,115
1,599,729
2,261,888
2,732,343
,,* Debt(1 )Welfare Service
148,939
156,141
153,103
150,140
147,215
144,297
141,038
544,597 148,164
608,009 144,600
650,202 146,160
_
|
1§
•1
A
^/
I
1
The City assumed responsibility for the Carlsbad Housing Office in 1979-80
(2)Includes General, Special Revenue, and Debt Service funds.
73
THIS PAGE INTENTIONALLY LEFT BLANK
74
CITY OF CARLSBAD
General Revenue by Source
Last Ten Years
Fiscal
Year
1972-73
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
Total
$3,678,191
4,634,334
5,689,159
6,964,649
8,466,866
10,362,623
9,015,129
12,305,902
14,507,827
16,299,152
Property
Taxes
1,393,335
1,899,177
2,375,319
2,894,098
2,923,710
3,484,504
1,633,938
2,615,181
3,344,171
4,193,866
Sales Taxes
540,742
770,466
939,721
1,118,387
1,402,841
1,967,968
2,389,832
2,969,586
3,302,134
3,941,152
Franchise
Taxes
29,049
42,836
54,818
78,254
96,818
111,271
141,185
175,257
250,101
288,956
Other Taxes
349,061
430,869
552,885
731,747
1,064,015
1,202,799
1,451,795
1,526,547
1,615,950
1,347,202
i
1rf
w
j
M|"|
]Ml
,1
^J
Includes General, Special Revenue, and Debt Service funds.
]
75
m
t*
•t
Hi
m
*
m>
M
m
m
^
m
•
m
to
n
M
Business
Licenses
74,091
78,573
88,675
111,253
141,050
151,768
186,845
242,342
247,798
258,663
Other
Licenses
369,860
447,970
322,203
448,814
908,521
909,201
626,749
829,623
1,048,332
537,476
Intergov-
ernmental
504,794
343,294
459,473
566,129
547,477
873,544
655,588
1,316,172
1,133,947
1,875,243
Charges for
Services
418,932
395,410
546,670
643,995
859,008
862,138
851,465
1,168,326
1,737,238
1,986,800
Fines and
Forfeits
47,391
55,116
84,279
100,859
139,480
125,964
129,504
152,171
230,684
260,498
Interest
30,871
138,148
223,751
214,346
294,892
489,638
817,604
1,143,121
1,472,681
1,533,333
Miscel-
laneous
8,065
27,473
41,365
56,765
89,054
183,828
130,620
167,576
124,791
75,963
76
CITY OF CARLSBAD x J
Ratio General Bonded Debt to Assessed Valuation
and Net Bonded Debt Per Capita *|
J
Last Ten Fiscal Years
3Fiscal
1972 -
1973 -
1974 -
1975 -
1976 -
1977 -
1978 -
1979 -
1980 -
1981 -
Year
73
74
75
76
77
78
79
80
81
82
Net Assessed
Valuation
$ 64,041,973
94,819,185
121,045,109
150,147,591
156,629,855
196,697,879
245,296,620
312,538,738
361,068,983
1,687,082,037(1)
Outstanding
Principal
$2,010,000
1,935,000
1,850,000
1,765,000
1,680,000
1,595,000
1,510,000
1,425,000
1,245,000
1,145,000
Percent of
Total
Valuation
3.0 %
1.9
1.5
1.1
1.0
0.8
0.6
0.4
0.3
0.06
Per Capita
Debt
$118.91
106.63
92.61
84.17
69.59
57.07
47.04
40.20
34.97
31.65
Popu 1st ion
16,904
18,1479
19,977
20,970
24,1439
27,946
32,100
35,4483
35,606
36,172
(1) In 1981-82, the County of San Diego began providing assessed valuation data
based on full market vaue. The 1981-82 value may be converted to the basis
used between 1972-73 and 1980-81 by multiplying by 25%.
J
77
PI
M
"" CITY OF CARLSBAD
** Computation of Legal Debt Margin
in
June 30, 1982
25% of Assessed Valuation $ 421,770,509
Debt Limit 15% of Assessed Valuation 63,265,576
Amount of Debt Applicable to Debt Limit:
Bonded Debt $ 1,145,000
Capitalized Leases 893,901
Total Amount of Debt
Applicable to Debt Limit 2,038,901
LEGAL DEBT MARGIN 61,226,675
Percent of Debt Limit 3.3%
Ml
m
m
m
m
m
m
78
Ratios to Assessed Valuation:
Direct Debt ($4,100,000) 0.24%
Total Debt 1.35%
(1)Gross assessed value provided by County of San Diego,
Auditor and Controller.
3
CITY OF CARLSBAD
Schedule of Direct and Overlaping Bonded Debt
June 30, 1982
(1)1981-82 Assessed Valuation: $1,735,841,237
Direct and Overlapping Bonded Debt:
San Diego County Building Authorities
San Diego County Water Authority
Metropolitan Water District
Oceanside-Carlsbad Community College District
Carlsbad Unified School District
(various issues) 84,
Carlsbad Unified School District Authority
San Marcos Unified School District
San Dieguito Union High School District
Percent
Applicable
3.584%
3.734
0.572
25.306
175-91.293
91.240
1-7.270
(various issues) 9.602-13.878
Encinitas Union School District
(various issues) 24.504-32.582
Other School districts Various
Tri-City Hospital District 29.287
North San Diego Hospital District
& Authority 0.430
Leucadia County Water District 51.957
San Marcos County Water & Improvement
Districts #1, #2, #6 1.139-5.270
Costa Real (Carlsbad) Municipal Water Dist.S
Improvement Districts #1, #2, #3, #4 88.023-95.849
Olivenhain Municipal Water District
Improvement District #1 32.539
City of Carlsbad 100.
City of Carlsbad Building Authority 100.
Encinitas Union School District Authority 24.504
Total Gross Direct & Overlapping Bonded Debt
Debt as of
6/30/82
$ 4,855,245
1,641,280
2,769,257
189,795
1,275,875
2,271,876
947,962
606,636
523,134
27,053
820,036
85,248
542,951
88,129
1,561,334
694,708
1,145,000
2,955,000
477,828
$23,478,347
I
1
3
3
J
3
3
79
pi
CITY OF CARLSBAD
Ratio of Annual Debt Service
m For General Bonded Debt to Total General
Expenditures - Last Ten Fiscal Years
M
pt
Mi
P
m
P
P
'
m
W
p
m
Fiscal
Year
1972-73
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
Principal
$ 75,000
85,000
85,000
85,000
85,000
85,000
85,000
95,000
95,000
100,000
Interest
$73,939
71,141
68,108
65,140
62,215
59,297
56,038
53,164
49,600
46,160
Debt
Total ,
Service
$148,939
156,141
153,103
150,140
147,215
144,297
141,038
148,164
144,600
146,160
Total ., . Ratio of Debt
s General Service to General
Expenditures Expenditures %
$ 3,629,181
3,878,205
4,841,800
5,540,958
6,916,158
8,608,080
9,566,353
10,958,699
13,837,197
14,329,047
4.1%
4.0
3.2
2.7
2.1
1.7
1.5
1.4
1.0
1.0
Debt Service Requirement on General Obligation Bonds
Comprised of 1962 Sewer Bonds Series A, B, C; and
1966 Library Bonds
(2)Includes General, Special Revenue, and Debt Service Funds
80
CITY OF CARLSBAD
Revenue Bond Coverage
Water Bonds
Last Ten Fiscal Years
Net Revenue
Fiscal
Year
1972-73
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
$
1
1
1
1
1
1
1
1
2
Gross
Revenue
832,506
,051,459
,112,969
,257,334
,271,353
,388,195
,525,143
,806,817
,997,591
,084,262
Direct
Operating
Expenses
567,964
594,649
727,981
785,261
897,240
1,023,717
1,269,836
1,333,560
1,655,756
1,620,519
Available
for Debt
Service
264
456
384
472
374
364
255
473
341
463
,542
,810
,988
,073
,113
,478
,307
,257
,835
,743
Debt
Principal
65
70
70
75
60
85
90
95
105
215
,000
,000
,000
,000
,000
,000
,000
,000
,000
,000
Service Requirements
Interest Total Coverage
112,975
108,958
105,096
100,972
96,362
91,245
85,603
80,377
74,985
69,715
177,
178,
175,
175,
176,
176,
175,
175,
179,
284,
975
958
096
972
362
245
603
377
985
715
1.49%
2.55
2.20
2.68
2.12
2.07
1.45
2.70
1.90
1.63
I
J
3
3
3
]
3
81
CITY OF CARLSBAD
Demographic Statistics
m
m
m
u
m
m
F
M
-ta
P"
ta
W^
IH
*•
P
Ml
•1
•M
m
m
Year
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1985
(estimate)
1995
(estimate)
2000
(estimate)
(DoSource
County
City
Population /.x Population
Square Percent County Percent
Miles Population Change Population of County
21
25
28
28
28
28
29
29
29
29
.4
.6
.3
.6
.7
.7
.1
.4
.7
.8
16
18
19
20
24
27
32
35
35
36
51
84
93
,904
,147
,977
,970
,143
,946
,100
,448
,606
,172
,641
,147
,891
- County Data Base
Future Population
7.
7.
10.
5.
15.
15.
14.
10.
0.
1.
42.
62.
11.
, San Diego
Estimate Not
5% 1,502,067
4 1,544,600
1 1,559,505
0 1,590,700
1 1,656,800
8 1,694,800
9 1,767,450
4 1,808,200
4 1,899,900
6 1,924,700
8 (2)
9 (2)
6 (2)
County
Available
1.1%
1.2
1.3
1.3
1.5
1.6
1.8
2.0
1.9
1.9
82
CITY OF CARLSBAD
Schedule of Assessed Valuation
Last Ten Fiscal Years
Less
Secured Unsecured Property Total
Fiscal Year Property Property Exemptions Valuation
1972 - 73 $ 64,009,249 $ 3,822,270 $1,490,660 $ 66,340,859
1973 - 74 97,974,201 4,125,796 1,394,280 100,705,717
1974 - 75 123,890,815 5,056,766 1,441,339 127,506,242
1975 - 76 154,000,994 5,428,247 1,729,582 157,699,699
1976 - 77 158,745,285 7,381,254 1,149,614 164,976,025
1977 - 78 200,426,225 9,115,516 2,189,620 207,352,121
1978 - 79 249,889,799 10,823,286 2,171,421 258,541,664
1979 - 80 318,374,958 12,937,939 2,354,961 328,957,936
1980 - 81 366,867,584 8,877,200 2,578,751 373,166,033
1981 - 82(1)1,700,974,823 43,077,175 8,210,761 1,735,841,237
(1) In 1981-82 the County of San Diego began providing assessed valuation data
based on full market value. The 1981-82 values may be converted to the
basis used between 1972-73 and 1980-81 by multiplying by 25%.
83
pi
m
m
Business Net
Inventory Homeowner's Taxable
Exemptions Exemptions Value
664,636 1,634,250 64,041,973
1,116,782 4,769,750 94,819,185
1,368,033 5,093,100 121,045,109
1,913,518 5,638,550 150,147,591
2,304,270 6,042,800 156,629,855
3,170,192 7,484,050 196,697,879
4,160,094 9,084,950 245,296,620
5,207,298 11,211,900 312,538,739
12,097,050 361,068,983
48,759,200 1,687,082,037
84
CITY OF CARLSBAD
Construction and Business Activity
Last Ten Years
Fiscal Year
1972-73
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
Building
Permits
Issued
$214,720
232,598
110,952
190,492
613,427
520,603
119,224
181,839
328,453
271,542
Percent
Change
120.2%
8.3
<52.3>
71.7
222.0
<15.1>
<77.1>
52.5
80.6
<17.3>
QV Business
Estimated Licenses
Valuation Issued
$ 74,091
78,573
88,675
111,253
141,050
151,768
$23,700,000 186,845
41,900,000 242,342
85,900,000 247,798
52,700,263 258,663
Percent
Change
36.9%
6.0
12.9
25.5
26.8
7.6
23.1
29.7
2.3
4.4
1
(1)Information for fiscal year 1972-73 through 1977-78 is not available.
v
85
m
m
CITY OF CARLSBAD
Schedule of Principal Employers
1981-82
Firm
M
PH
m
Manufacturing;
Hughes Aircraft Company,
Industrial Products Division
Burroughs Corporation
Oak Industries
Summa Corporation
Hughes Helicopter Division
Sargent Industries
Eaton-Leonard Corporation
Dyna Med Inc.
Beckman Instruments
Magnedyne Inc.
Anthony Industries (Pool Division)
Non-manufacturing:
Plaza Camino Real
La Costa Hotel & Spa
Tri-City Hospital
Mira Costa college
Car Country Auto Dealers
Frazee Flowers
San Diego Gas & Electric, Encina
Army & Navy Academy
Number of
Product/Service Employees
Electronic components 1,100
Computer components 700
Electronic components 400
Assembly/testing 300
Industrial seals 280
Bending machines 220
Emergency medical products 160
Microbics operation 150
Electronic motors 90
Swimmit g nools & related
equipment 75
Shopping center 1,500
Hotel & health spa 1,300
District hospital 1,200
Community college 520
Car dealers
All major agencies 460
Flower growing and
processing 450
Power generation 150
Private junior/senior
high school 100
Source: City of Carlsbad Chamber of Commerce
86
CITY OF CARLSBAD
Miscellaneous Statistical Information
Date of Incorporation
Type of City
Form of Government
Area
Population
July 16, 1952
General Law
Council/Manager
29.8 sq. miles
36,172
Number of Street Lights 2,454
Fire Protection:
Number of Stations
Number of Firefighters & Officers
3
48
Police Protection:
Number of Stations
Number of Sworn Police Officers
Recreation and Culture:
Number of Parks
Number of Libraries
Number of Volumes
Total Number of City Employees
1
53
22
1
140,000
317
I
I
3
3
I
I
87
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
FINANCIAL STATEMENTS
WITH REPORT ON EXAMINATION BY CERTIFIED PUBLIC ACCOUNTANTS
June 30, 1982
' ; BUILDING AUTHORITY OF THE CITY OF CARLSBAD
Table of Contents
June 30, 1982
^: '•'••- • ••'••'.' ;": ' Page
Number
Accountants' Report . 1
Combined Balance Sheet - All Governmental Fund Types
and Account Groups ,.2
Combined Statement of Revenues, Expenditures and Changes
in Fund Balance - All Governmental Fund Types 3
Statement of Changes in~Bonds Payable "" 4
Notes to Financial Statements " 5-7
Combining Balance ^heet - All" Debt Service Funds 8
Combining Statement of Revenues, Expenditures and Changes
in Fund Balance - All Debt Service Funds 9
c
ELLIS C. OICHL. C.P.A. 11925 19561
BRVN B. EVANS, C PA.
PHILIP H. HOLTKAMP. C.P.A.
WIN O. PETERS. C.P.A.
OONALO H. PETERSON. C.PA.
DONALD C. CALLAHAN. C.P.A.
l_ PETER SCHEREH. C.P.A.
RODNEY K. McOANIEL. C.PA.
RALPH H. WCINTRAUB. C.P.A.
DiEHL, EVANS AND COMPANY
. A PARTNERSHIP Or ACCOUNTANCY COHPORATIONS
"~ CERTIFIED PUBLIC ACCOUNTANTS
ISO weST WOODWARD AVENUE
CSCONDIOO. CALIFORNIA 9SO25
(714) 741-31*1
August 10, 1982
OTHER orriccs AT:
ROOSEVELT STREET
CARLSBAD. CALIFORNIA
IBIO NORTH BUSH STREET
SANTA ANA, CALIFORNIA
ACCOUNTANTS' REPORT
BOARD OF DIRECTORS
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
CARLSBAD, CALIFORNIA
We have examined the combined financial statements of the Building
Authority of the City of Carlsbad as of and for the year ended June 30,
1982, 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 combined financial statements referred to above
present fairly the financial position of the Building Authority of the City
of Carlsbad and the results of its operations and changes in fund balances
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
combined financial statements taken as a whole. The combining financial
statements listed in the table of contents are presented for purposes of
additional analysis and are not a required part of the combined financial
statements of the Building Authority of the City of Carlsbad. The information
has been subjected to the auditing procedures applied in the examination of
the combined financial statements, and in our opinion, is fairly stated in
all material respects in relation to the combined financial statements taken
as a whole.
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
COMBINED BALANCE SHEET
ALL GOVERNMENTAL FUND TYPES AND ACCOUNT GROUPS
June 30. 1982
ASSETS:
Cash and savings held by
trustee
U.S. Government securities, at
cost, (approximates market)
Due fro* other funds
Lease payments receivable
(Note Ib)
Unearned lease finance charges
TOTAL ASSETS
Governmental Fund
Revenue
Working
Capital
Types
Debt
Service
Account Group
Lease
Payments
Receivable
Payable
Total
(Memorandum
1982
Only)
1981
$ 4,425 $ 57 $ 4,779
32,836
1,443
18,763
33,180
$ 9,261 $ 10,081
51,599 79,181
36,420
$ iiai.,100 = 381,100 418,500
.-(181,100 K- -(101,100) (118,500)
$ 39,058 $ 1,500 $ 56,722 $ 280,000 $ 377,280 $ 389,262
LIABILITIES:
Revenue bonds payable (Note 3)
Due to other funds
Deferred revenue
TOTAL LIABILITIES
LIABILITIES AND FUND BALANCE
34,623
34,623
$ 280,000 $ 280,000 $ 300,000
1,797 36,420
36,000
1,797 280,000 316,420 336,000
FUND BALANCE (DEFICIT) (Note 4):
Reserve for payment of bond
principal and interest
Reserve for working capital
Unreserved
TOTAL FUND BALANCE
TOTAL LIABILITIES AND
FUND BALANCE
$ 1,500
4,435
54,925 54,925
1,500
4,435
60,860
56,125
(2,863)
53,2624,435 1,500 54,925
$ 39,058 $ 1,500 $ 56,722 $ 280.000 $ 377,280 $ 389,262
c
See accompanying accountants' report and notes to financial statements.
2
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
For the fiscal year ended June 30, 1982
Totals
REVENUE:
lease payments - finance
charges
Interest on investments
TOTAL REVENUE
EXPENDITURES:
Interest
Administrative expense
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF
REVENUE OVER EXPENDITURES
OTHER FINANCING SOURCES (USES):
Lease pa/tents received -
principal
Bonds paid
. Operating transfers in
Operating transfers out
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS (DEFICIENCY) ,OF
REVENUE AND OTHER
SOURCES OVER EXPENDI-
TURES AND OTHER USES
FUND BALANCE (DEFICIT), July 1
FUND BALANCE, June 30
Revenue
X
$ 17,400
4,155
21,555
21,555
18,600
4,413
(34,623)
(11,610)
9,945
(5,510)
$ 4,435
Working
Capital
$ 25
25
793
793
(768)
1,443
1,443
675
825
$ 1,500
Debt
Service
$ 5,611
5,611
17,400
17,400
(11,789)
(20,000)
33,180
(4,413)
8,767
(3,022)
57,947
$ 54,925
(Memorandum
1982
I 17,400 $
9,791
27,191
17,400
793
18,193
8,998
18,600
(20,000)
39,036
(39,036)
(1,400)
7,598
53,262
$ 60,860 $
Only)
1981
18,600
7,310
25,910
18,600
734
19,334
6,576
17,400
(20,000)
71,555
(71,555)
(2,600)
3,976
49,286
53,262
S«t accompanying accountants' report and notes to financial statements.
3
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
STATEMENT OF CHANGES IN BONDS PAYABLE
For the fiscal year ended June 30, 1982
BALANCE AT JULY 1. 1981
PlyMntt Mdt
IALANCC AT JUNE 30. 1982
$ 300,000
20,000
$ 280,000
- c - • >I 5tt accompanying accountants' report and notes to financial statements.
: • ' . ..•.,-... 4
*
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
. June 30, 1982
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
a. The financial statements have been prepared on the modified accrual
basis.
b. The leasing of the facilities to the City has been accounted for as a
direct finance lease whereby the long-term lease has been treated as
a sale of the facilities to the City and the lease payments receiv-
able represent the selling price. Finance charges included in the
lease payments are taken into income each year as earned on a declin-
ing balance method over the life of the lease. This method hass the
effect of recording income in an amount that equals bond interest
expense each year . .
2. HISTORY AND ORGANIZATION:
The Building Authority of the City of Carlsbad was organized October 1,
1967 under a joint exercise of powers agreement between the City of
Carlsbad and the County of San Diego for the purpose of financing and
constructing a civic center building for lease to the City of Carlsbad.
Any net earnings or net assets of the Authority after providing for all
debts and obligations of the Authority are distributable upon dissolution
to only the City of Carlsbad.
The Authority leased the site from the City of Carlsbad on November 1,
1967 for the sum of $ 1 which represents the rent for the full term of
the lease. The site lease will terminate at the end of the sublease.
On November 1, 1967 the Authority entered into a sublease with the City
of Carlsbad under the terms of which the Authority agreed to construct
the above-mentioned civic center facilities and lease them back to the
City for annual rental payments of $ 36, 000 r payable in advance on July
1. The leaseback will terminate on October 31, 2007 or such earlier time
when all debts of the Authority are paid in full.
The City also agreed to pay as additional rent all takes, assessments,
insurance premiums and administrative costs of the Authority.
• ; '~ . .; Y • :. •'•-•..•...„..-..
3. REVENUE BONDS PAYABLE: ' . .
To provide funds for the construction of the City Hall, the Authority
sold $ 460,000 principal amount of revenue bonds with interest at 6%. The
bonds were issued under a trust indenture with Crocker National Bank as
Trustee. The bonds mature serially from December 15, 1968 to December 15,
1992 in amounts ranging from $ 5,000 to $ 35,000 with $ 20,000 maturing
in 1982-83. •. . .
See accompanying accountants' report.
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1982
3. REVENUE BONDS PAYABLE (Continued): "
Bonds maturing on or after December 15, 1979 are subject to call in whole
or in part at the option of the Authority at prices ranging from 100.25%
to 104% of the principal amount of the bonds.
4. FUND BALANCES:
In accordance with the terms of the indenture, cash balances of the follow-
ing funds are restricted to be used for specified purposes as follows:
Interest and Retirement Funds - on or before August 1 of each year, a sum
sufficient to pay twelve months' interest due on the next succeeding
December 15 and June 15 as well as the amount of principal maturing on
the next succeeding December 15.
Reserve Fund - an amount at least equal to one half maximum annual debt
service ($ 18,725) shall be maintained at all times. Any excess shall on
June 30 and December 30 of each year be transferred to the Revenue Fund.
Moneys in this fund may be used to pay the principal and/or interest on
the last maturity of bonds outstanding.
Working Capital Fund - an amount necessary to pay administrative expenses
and maintain a $ 1,500 balance in this fund.
Revenue Fund - amounts accumulated in this fund after meeting requirements
of the interest and redemption, reserve and working capital funds shall
be declared surplus and may be used to reimburse the City for rent previ-
ously paid. '
5. INSURANCE:
Insurance coverage maintained by the City of Carlsbad with the Authority
listed as additional insured at June 30, 1982 includes:
Type of Coverage
All risk including valuable
papers and rental
Equipment floater
Excess liability and
workers compensation
Earthquake
Boiler and machinery
Comprehensive crime
General and auto liability
See accompanying accountants' report.
Amount
$ 10,241,525
455,000
24,000,000
300,000
1,000,000
500,000
1,000,000
Term
12/1/81 to 12/1/84
12/1/81 to 12/1/84
7/1/81 to 7/1/82
9/22/81 to 9/22/82
12/20/81 to 12/20/84
4/16/82 to 4/16/83
7/1/81 to 7/1/84
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1982
a
1 v
6. COMPARATIVE DATA:
Comparative total data for the prior year have been presented in the ac-
companying financial statements in order to provide an understanding of
changes in the Authority's financial position and operations. However,
comparative (i.e. presentation of prior year totals by fund type) data
have not been presented in each of the statements since their inclusion
would make the statements unduly complex and difficult to read.
TOTAL COLUMNS:
Total columns on the Combined Statements are captioned Memorandum Only to
indicate that they are presented only to facilitate financial analysis.
Data in these columns do not present financial position, results of
operations, or changes in fund balances in conformity with generally
accepted accounting principles. Neither is such data comparable to a
consolidation. Interfund eliminations have not been made in the aggrega-
tion of this data. .
See accompanying accountants' report.
SUPPLEMENTARY INFORMATION
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
COMBINING BALANCE SHEET
ALL DEBT SERVICE FUNDS
June 30, 1982
Totals
ASSHS
C««H ««d livings held by trustee
U.S. Oovernatnt securities,
tt cost
Out (re* fi«v«nu« Fund
TOTAL ASSETS
Interest
$ 1,636
14,564
$ 16,200
Retirement
$ 1,384
18,616
$ 20,000
Reserve
$ 1,759
18,763
$ 20,522
1982
$ 4,779
18,763
33,180
$ 56,722
1981
$ 6,643
51,304
$ 57,947
UASUITICS AND FUND BALANCE
Out to othtr funds
TOTAL LIABILITIES
$ 1,797 '$ 1,797
1,797 1,797
WO BALANCE:
fUttrvtd for payment of bond
principal and interest
Unr«ttrv«d
- * TOTAL FUND BALANCE
TOTAL LIABILITIES AND
FUND BALANCE
$ 16,200 $ 20,000 18,725 54,925 $ 56,125
• . 1,822
16.200 20.000 18,725 54,925 57,947
$ 16,200 $ 20,000 $ 20,522 $ 56,722 $ 57,947
tr
S« icec.p.nylng notes to financial statements.
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - ALL DEBT SERVICE FUNDS
For the fiscal year ended June 30, 1982
Interest Retirement Reserve
Totals
1982 1981
tfldtfi
« lnv*tt«tnt$
TOIIL DCVCRUE
$ 1,626 $ 1,374 $ 2,611 $ 5.611 $ 4,385
1,626 1,374 2,611 5,611 4,385
lM«rt»t 17,400 17,400 18,600
CJtCESS (DEFICIENCY) OF
REVENUE OVER EXPENDITURES
OTMEft riMNCIHG SOURCES (USES):
Bondl p«id
Optrttlng triniftrs in
Op«r*tlng trtntfers out
TOTAL OTHER FINANCING
SOURCES (USES)
(15,774)1,374 2,611 (11,789) (14,215)
14,564
14,564
(20,000)
18,616
(1,384)
(20,000)
33,180
(4,413) (4,413)
(4,413) 8,767
(20,000)
71,622
(3,570)
48,052
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER SOURCES OVER EXPEN-
DITURES AND OTHER USES '(1,210)(10) (1,802) (3,022) 33,837
ru*0 BALANCE. July 1
BALANCE. June 30
17,410 20,010 20,527 57,947 24,110
$ 16,200 $ 20,000 $ 18,725 $ 54,925 $ 57,947
S«« tccoipanying notes to financial statements.
PARKING AUTHORITY OF THE CITY OF CARLSBAD
FINANCIAL STATEMENTS
WITH-REPORT ON EXAMINATION BY CERTIFIED PUBLIC ACCOUNTANTS
June 30, 1982
PARKING AUTHORITY OF THE CITY OF CARLSBAD
Table of Contents
June 30, 1982
•. Page
Number
Accountants ' Report 1
Combined Balance Sheet - All Governmental Fund Types
and Account Groups 2
Combined Statement of Revenues, Expenditures and Changes
in Fund Balance - All Governmental Fund Types 3
Notes to Financial Statements 4-7
Combining Balance Sheet - All Governmental Fund Types 8
Combining Statement of Revenues, Expenditures and Changes
in Fund Balance - All Governmental Fund Types 9
ELLIS C. OIEHL. C.P.A. (^5-19561
BRYN B. EVANS, C.P.A.
PHILIP H. HOLTKAMP, C.P.A.
WIN O. PETERS. C.P.A.
DONALD H. PETERSON. C.P.A.
DONALD E. CALLAMAN, C.P.A,
L. PETER SCMERER, C.P.A.
RODNEY K. MCDAMEL. C.P.A.
RALPH H. WEINTRAUB. C.P.A.
DIEHL, EVANS AND COMPANY
A PARTNERSHIP Of ACCO'JN'ASCY CORPORATIONS
CERTIFIED PUBLIC ACCOUNTANTS
I2O WEST WOODWARD AVENUE
ESCONDIDO, CALIFORNIA 93OE5
(714) 7«i-3i4l
August 10, 1982
OTHER OFFICES AT:
2965 ROOSEVELT STREET
CARLSBAD, CALIFORNIA
19IO NORTH BUSM STREET
SANTA ANA, CALIFORNIA
ACCOUNTANTS' REPORT
BOARD OF DIRECTORS
PARKING AUTHORITY OF THE CITY OF CARLSBAD
CARLSBAD, CALIFORNIA
; We have examined the combined financial statements of the Parking
; Authority of the City of Carlsbad as of and for the year ended June 30,
1982, 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 combined financial statements referred to above
V, present fairly the financial position of the Parking Authority of the City
of Carlsbad and the results of its operations and changes in fund balances
for the year then ended, in conformity with generally accepted accounting
principles applied on a basis consistent with that of the preced- ing year.
; Our examination was made for the purpose of forming an opinion on the
combined financial statements taken as a whole. The combining financial
statements listed in the table of contents are presented for purposes of
additional analysis and are not a required part of the combined financial
statements of the Parking Authority of the City of Carlsbad. The information
has been subjected to the auditing procedures applied in the examination of
the combined financial statements, and in our opinion, is fairly stated in
all material respects in relation to the combined financial statements taken
as a whole.
PARKING AUTHORITY OF THE CITY OF CARLSBAD
COMBINED BALANCE SHEET
ALL GOVERNMENTAL FUND TYPES AND ACCOUNT GROUPS
June 30, 1982
ASSETS:
Cash and savings held by
trustee
Time certificates of
deposit
U.S. Government securities,
at amortized cost
Accrued interest receivable
Due from other funds
Lease payments receivable
(Note Ib)
Unearned lease finance
charges (Note Ib)
TOTAL ASSETS
Governmental Fund Types
Bond Working
Service Capital Reserve
$ 45,178 $ 3,000 $ 9,072
676,000
226,752
24,169 16,601
28,425
$ 773,772 $ 3,000 $ 252, 425'
Account
Group
Lease
Receivable
And Bonds
Payable
$ 4,784,931
(2,109,931)
$ 2,675,000
Totals
(Memorandum
Only)
$ 57,250
676,000
226,752
40,770
28,425
4,784,931
(2,109,931)
$ 3,704,197
LIABILITIES AND FUND BALANCES
LIABILITIES:
Revenue bonds payable
(Note 3)
Due to other funds
TOTAL LIABILITIES
FUND BALANCE (Note 4):
Reserve for payment of
bond principal and
interest
Reserve for working
capital
Unreserved
TOTAL FUND BALANCE
TOTAL LIABILITIES
AND FUND BALANCE
$ 225,756
548,016
773,772
$ 3,000
3,000
$ 28,425
28,425
224,000
224,000
$ 2,675,000
2,675,000
See accompanying accountants' report and notes to financial statements.
2
$ 2,675,000
28,425
2,703,425
449,756
3,000
548,'016
1,000,772
$ 773,772 $ 3,000 $ 252,425 $ 2,675,000 $ 3,704,197
PARKING AUTHORITY OF THE CITY OF CARLSBAD
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE - ALL GOVERNMENTAL FUND TYPES
For the fiscal year ended June 30, 1982
REVENUE:
Lease payments - finance charges
Less amount repaid to the City
of Carlsbad
Interest on investments
Contribution from bond service
fund
TOTAL REVENUE
EXPENDITURES:
Interest
Administrative expense
Contributions to working capital
1 fund
TOTAL EXPENDITURES
EXCESS OF REVENUE OVER
EXPENDITURES
OTHER FINANCING SOURCES (USES):
Lease payments received - principal
Bonds paid
Operating transfers in
Operating transfers out
TOTAL OTHER FINANCING
SOURCES (OSES)
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES
FUND BALANCE, July 1
FUND BALANCE, June 30
Bond
Service
$ 196,262
(100,478)
116,906
212.690
196,262
3,960
200,222
12,468
116,153
(50,000)
29,230
95,383
Working
Capital
Totals
(Memorandum
Reserve Only)
107,851
665,921
$ 773,772
$ 3,960
3,960
3,006
3,006
954
954
2,046
$ 3,000
$ (21,645)
40,771
19,126
19,126
(29.230)
(29.230)
(10,104)
234,104
$ 196,262
(122,123)
157,677
3,960
235,776
196,262
3,006
3,960
203,228
32,548
116,153
(50,000)
29,230
(29,230)
66,153
98,701
902,071
$ 224,000 $ 1,000,772
See accompanying accountants' report and notes to financial statements.
3
PARKING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
June 30, 1982
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
a. The financial statements have been prepared on the modified accrual
basis.
b. The lease of the facilities to the City has been accounted for as a
direct financing lease whereby the long-term lease has been treated
as a sale of the facilities to the City and the lease payments
receivable represent the selling price. Finance charges included in
the lease payments are taken into income each year as earned on a
declining balance method over the life of the lease. This method has
the effect of recording income in an amount that equals bond
interest expense each year.
c. Investments are stated at cost, which approximates market value.
2. HISTORY AND ORGANIZATION:
The Authority was created pursuant to the Parking Law of 1949 and was
authorized by Resolution 1264 by the City Council on April 19, 1966. A
five member commission appointed by the City Council, governs the
Authority.
Leases were executed by the City of Carlsbad under which the City agreed
to pay $ 138,400 and $ 174,000 annually for the original lease and a
1981 expansion, in quarterly payments due on the first day of each
calendar quarter. The leases commenced October 21, 1969 and February 1,
1981, and terminate on the date of retirement of the revenue bonds.
3. BONDS PAYABLE:
The following is a summary of bonds payable transactions of the Parking
Authority of the City of Carlsbad for the year ended June 30, 1982:
Parking Revenue Bonds
1969 1981 Total
Revenue bonds payable,
June 30, 1981 $ 1,225,000 $ 1,500,000 $ 2,725,000
Bonds retired ' 50,000 50,000
Revenue bonds payable,
June 30, 1982 $ 1,175,000 $ 1,500,000 $ 2,675,000
See accompanying accountants' report.
4
PARKING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
***" (Continued)
June 30, 1982
3. BONDS PAYABLE (Continued):
To provide financing for public parking facilities and the expansion
thereof, the Authority sold $ 1,535,000 and $ 1,500,000 principal amount
of revenue bonds with interest ranging from 6.2% to 6.4% and 8%
respectively. The bonds were issued under a trust indenture with Security
Pacific National Bank as trustee. The bonds mature as follows:
1969 Parking Revenue Bonds
Serially from October 1, 1971 to October 1, 1995 in amounts ranging
from $ 10,000 to $ 125,000 with $ 50,000 maturing in 1982-83.
Bonds maturing on or after October 1, 1980 are subject to call in
whole or in part at the option of the Authority at prices ranging from
100.25% to 105% of the principal amount of the bonds.
1981 Parking Revenue Bonds
Serially from February 1, 1984 to February 1, 2001 in amounts ranging
from $ 30,000 to $ 150,000.
Bonds maturing on or after February 1, '1991 are subject to call in
whole or in part at the option of the Authority at prices ranging from
100.25% to 102% of the principal amount of the bonds.
4. DESCRIPTION OF FUNDS:
BOND SERVICE FUND
1969 Parking Revenue Bonds
*
All pledged revenues received by the Authority shall be desposited in
this fund and shall be used only for the purpose of paying the
principal and interest on the bonds. In accordance with the bond
indenture, any moneys in excess of the amount required to pay the
principal and interest coming due on or before the next following
October 1 and an amount equal to the base annual rental payment shall
be transferred, if necessary, to the Reserve Fund to maintain said
: fund at $ 68,000. Any moneys in excess of the foregoing requirements
i may be used to reimburse the City for rental payments previously paid.
See accompanying accountants' report.
I PARKING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
f: (Continued)
I" June 30, 1982
4. DESCRIPTION OF FUNDS (Continued):
I BOND SERVICE FUND (Continued)
' 1981 Parking Revenue Bonds
All pledged revenues received by the Authority shall be deposited in
this fund and shall be used only for the purpose of paying the
principal and interest on the bonds. In accordance with the bond
indenture on any February 1 moneys in excess of the amount required to
pay principal and interest on the bonds then due will be transferred,
if necessary, to the Reserve Fund to maintain said fund at $ 156,000,
and if necessary, to the Working Capital Fund to maintain said fund at
$ 1,500. Any moneys in excess of the foregoing requirements will be
used to reimburse the City for rental payments previously paid. In
accordance with this provision, $ 122,123 was refunded to the City of
Carlsbad during the year.
WORKING CAPITAL FUND
1969 Parking Revenue Bonds
All payments for maintenance and operation, taxes, insurance and
administrative expenses are paid from this fund. The City, pursuant to
the lease agreement, shall pay the Treasurer of the Authority an
amount sufficient to cover the foregoing obligations and to maintain a
f $ 1,500 balance in this fund.
1981 Parking Revenue Bonds
All payments for maintenance and operation, taxes, insurance and
administrative expenses are paid from this fund. Amounts necessary to
maintain this fund at $ 1,500 shall be transferred from the Bond
Service Fund.
RESERVE FUND
1969 Parking Revenue Bonds
|
j $ 68,000 was set aside from the proceeds of the sale of bonds and
; deposited into the Reserve Fund. Moneys in this fund may be used to
pay the principal and/or interest on the last maturity of bonds
outstanding. Section 16 of the indenture provides that moneys in
| excess of $ 68,000 shall be transferred to the Bond Service Fund.
fC"
I See accompanying accountants' report.
[i eI
i . . ' . •
PARKING AUTHORITY OF THE CITY OF CARLSBAD
V" NOTES TO FINANCIAL STATEMENTS
| (Continued)
f.
June 30, 1982
4. DESCRIPTION OF FUNDS (Continued):
RESERVED FUND (Continued)
1981 Parking Revenue Bonds
$ 156,000 was set aside from the proceeds of the sale of bonds and
I' deposited into the reserve fund. Moneys in this fund may be used to
( pay the principal and/or interest on the last maturity of bonds
f outstanding. Section 16 of the indenture provides that moneys in
? excess of $ 156,000 shall be transferred to the Bond Service Fund.
i
| 5. TOTAL COLUMNS:
f
; Total columns on the Combined Statements are captioned Memorandum Only
f to indicate that they are presented only to facilitate financial analy-
j sis. Data in these columns do not present financial position, results of
operations, or changes in financial position in conformity with generally
* accepted accounting principles. Neither is such data comparable to a
| consolidation. Interfund eliminations have not been made in the aggrega-
tion of this data.
See accompanying accountants' report.
SUPPLEMENTARY INFORMATION
•SSETS:
Cash asd investments held by trustee
.Ti«e certificates of deposit
B.S. Sovermeit securities, at
a»arti?ed cost
»ccrt«d interest receivable
C**e frsa other funds
TOTAL »SS£TS
UA51S.ni.ES:
0-je to other funds
FM3 9ALAIC.E (note *):
Reserve for payient of bond
principal and interest
Reserve fcr working capital
'O'AL full!) BALANCE
CTU LIH8HITIES
•M FIIIO 9AU»CE
MWCMS MTHORITY OF THE CITY OF CARISBAD
COHBI««6 BALAUCE SHEET
HI 60VESHIIEIITAI FllKO TYPES
June 30, 1982
BOIIO SERVICE Finn
PARKINS R£VE*U£ BONDS
^»81__ Totals
* 286 $ 44,892
676,000
225,756
153.873
kORKIKG CAPITAL FUXD
PARKING REVENUE BONOS
1969 1981 Totals
i «,178
676,000 L500 1.500 * 3,000
24,169
28,4258,981
< 53.873 1773.772 $ 1.500 $ 1,500 t 3.000
LIABILITIES AND FUHD BALANCE
« 773.772
* 1.500 } l.soo «. 3i000
^i522 _ 1.500 3.000
'•50° 11.500 J 3i000
RESERVE FUIID
PARKING REVENUE BONDS
_ 1981 T.t.ls
'1.344 H5.408 228,752
M7° "."I 16,601
1184.981 $252.425
j 8.981 J 28,425
68,000 156,000 224,000
68-"00 _ 156.OOP _2?t,ooo
-87-4^ < 164.981 j 252.425
V
PARKING AUTHORITY OF THE CITY OF CARLSBAD
CONBININ6 STATEREKT OF REVENUES, EXPENDITURES ADO CHANGES III FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
For the fiscal year ended June 30, 1982
BOND SERVICE FUND
PARKING REVENUE BONDS
1969 1961 Totals
HOOKING CAPITAL FUND
PARKING REVENUE BONDS
1969 1981 Totals
RESERVE FUND
PARKING REVENUE BONDS
1969 1981 Totals
REVENUE:
lease payments - finance charges
less aacunt repaid to City of
Carlsbad
Interest incoie
Contribution fro* bond service fund
TOTAL REVENUE
EXPENDITURES:
Interest
Administrative expense
Contribution to »orking capital fun<i
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER F!»«NCIN6 SOURCES (USES):
lease payments received - principal
53«ds paid
Operating transfers in
Operatinj transfers out
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS (DEFICIENCY) OF REVENUES
ANB OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING
USES
FUS0 BALANCE, July I
FUND BALANCE, June 30
$ 76,262 J 120,000 $ 196,262
(100,478) (100,478)
104,358 12,548 116,906
180.620
32,387
Set accompanying notes to financial statements.
32,070 212.690
62.996 95.383
134.285 (26,434) 107,851
565.614 80.307 665,921
j 719.899 $ 53.873 J 773,772
V
t 2,460 $ 1.500 t 3.960
2,460 1,500 3.960
3.006
76.262
2.460
78.722
101,898
62,138
(50.000)
20,249
120,000
1,500
121,500
(89,430)
54,015
8,981
196,262
•
3,960
200,222
12,468
116,153
(50,000)
29,230
1,506 1.500
1,506 1,500
954
954
546 1.500
3,006
954
954
2,046
t 1.500 t 1.500 » 3.000
$ (21,645) $ (21,645)
$ 10,145 30,626 40,771
10.145
10.145
8,981
8.981
19,126
19.126
(10,104) (10.104)
78,104 156.000 234.104
$ 68.000 t 156.000 $ 224.000
CITY OF CARLSBAD
REPORT OF EXAMINATION OF THE
LOCAL TRANSPORTATION FUND
FOR THE FISCAL YEARS ENDED
JUNE 30, 1981 AND 1982
KENNETH CORY
STATE CONTROLLER
DIVISION OF LOCAL GOVERNNENT FISCAL AFFAIR;
BUREAU OF STREETS AND ROADS
CITY OF CARLSBAD
TABLE OF CONTENTS
JUNE 30, 1582
Auditor's Report 1
Comparative Balance Sheets 3
Statement of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual 4
Supplemental Schedule - Schedule of Transportation
Development Act Allocations for Specific Projects 5
Footnotes to the Financial Statements 6
KENNETH CORY
of ifye jiiaie nf Californta
SACRAMENTO, CALIFORNIA S58O5
October 8, 1982
San Diego Association of Governments
San Diego, California
Dear Board Members:
We have examined the balance sheets of the Local Transportation Fund of the
City of Carlsbad as of June 30, 1981 and June 30, 1982, and the related
statement of revenues and expenditures and changes in fund balance for the
years then ended. Our examinations were 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 aforementioned financial statements present fairly the
financial position of the Local Transportation Fund of the City of Carlsbad at
June 30, 1982 and June 30, 1981 and the results of operation of such fund for
the years then ended, in conformity with generally accepted accounting
principles applied on a consistent basis.
Our examination was also made for the purposes of determining compliance with
the Transportation Development Act Section 99234(a), the California
Administrative Code and the rules and regulations of the San Diego Association
of Governments. In our examination we performed to the extent applicable the
tasks contained in Section 6666 of the California Administrative Code.
In our opinion, the funds described above were expended and accounted for in
conformance with the applicable laws, rules, and regulations of the
Transportation Development Act and the allocation instructions of the
San Diego Association of Governments.
San Diego Association
of Governments -2- October 8, 1982
The accompanying supplemental information is not necessary for a fair
presentation of the financial statements but is presented as additional
analytical data. The supplemental information has been subjected to the tests
and other auditing procedures applied in the examination of the financial
statements listed in the foregoing table of contents and, in our opinion, is
fairly stated in all material respects in relation to the financial statements
taken as a whole.
Cordially,
KENNETH CORY, STATE CONTROLLER
Earl L. Lucas
Assistant Deputy State Controller
Local Government
By
Donald E. Etzlafr, Chief
Bureau of Streets and Roads
(916) 322-5613
DEE/gk
Attachments
022 4b
cc: City of Carlsbad
Secretary of Business and Transportation
O CITY OF CARLSBAD
LOCAL TRANSPORTATION FIND
COMPARATIVE BALANCE SHEETS
Pertaining to Section 99234(a) of the Public Utilities Code
June 30, 1982 and June 30, 1981
1981 1982
Assets
Cash
Investments
Accrued Interest Receivable
$ 4,414
72,000
1.937
$17,260
76,000
2,083
Total Assets $78,351 $95.343
Liabilities and Fund Balance
Fund Balance $ 78,351 $95,343
Total Liabilities and
Fund Balance $ 78,351 $95.343
See accompanying notes to financial statements.
-3-
CITY OF CARLSBAD
LOCAL TRANSPORTATION FUND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Pertaining to Section 99234(a) of the Public Utilities Code
Year Ended June 30, 1982
With Comparative Actual Amounts for Year Ended June 30, 1981
Budget
1982
Variance
Favorable 1981
Actual (Unfavorable) Actual
Revenues:
Intergovernmental:
Allocations:
Miscellaneous:
Interest
Total
$12,612 $12,612 $ -0- $ -0-
-0- 5,365
12,612 17,977
5,365
5,365
6,885
6,885
Expenditures:
Construction 840 985 (145) 38,190
Total
Excess (Deficiency)
of Revenues Over
Expenditures
840 985
Fund Balance at Beginning
of Year
11,772
78,351
16,992
78,351
(145) 38,190
5,220 (31,305)
-0- 109,656
Fund Balance at End of Year $90,123 $95,343 $5,220 $78,351
See accompanying notes to financial statements.
-4-
CITY OF CARLSBAD
LXAL TRANSPORTATION FUND
SECTION 99234(a) PUBLIC UTILITIES CODE
SCHEDULE OF TRANSPORTATION DEVELOPNENT ACT
ALLOCATIONS FOR SPECIFIC PROJECTS
As of June 30, 1982
Proj. Totals to Date. Unexpenoed Project
No. Project Description Allocations Expenditures Allocations Status
3007 Coastal Bike Route $194,492/ $142,299 $ 52,193 Closed
Harding St. Bike
Lane Signs and
Striping 840 ^ 840 -0- Closed
Interest Applied 145 145 -0-
Chestnut St. Bike , j
Lane (11,772 -0- 11,772 Open
Totals $207,249 $143,284 63,965
Add: Unexpended Interest
Accumulated to Date 31,523
Less: Interest Applied
Above 145 31,376
Fund Balance, June 30, 1982 $95.343
See notes to financial statements.
O -5-
CITY OF CARLSBAD
FOOTNOTES TO THE FINANCIAL STATEN€NTS
FOR THE FISCAL YEAR ENDED JUNE 30, 1982
A. Basis of Accounting:
The Local Transportation Fund is accounted for using the modified accrual
basis of accounting whereby revenues are recognized when they become both
measurable and available to finance expenditures of the current period and
expenditures are generally recognized when the related fund liabilities
are incurred.
-6-
KENNETH CORY
Controller of tlje jitaie of (EaJtfomra
October 8, 1982 SACRAMENTO, CALIFORNIA sseos
Mr. James F. Elliott
Finance Director
City of Carlsbad
1200 Elm Avenue
Carlsbad, California 92008
Dear Mr. Elliott:
We have examined the financial statements of the City of Carlsbad pertaining
to Article 3, Section 9923A(a) for the fiscal year ended June 30, 1982 and
have issued our report thereon dated October 8, 1982. As a part of our
examination, we made a study and evaluation of the City of Carlsbad's system
of internal accounting control to the extent we considered necessary to
evaluate the system as required by generally accepted auditing standards.
Under these standards, the purposes of such evaluation are to establish a
basis for reliance on the system of internal accounting control in determining
the nature, timing, and extent of other auditing procedures that are necessary
for expressing an opinion on the financial statements referred to above and to
assist the auditor in planning and performing his examination of the financial
statements.
The objective of internal accounting control is to provide reasonable, but not
absolute, assurance as to the safeguarding of assets against loss from
unauthorized use or disposition, and the reliability of financial records for
preparing financial statements and maintaining accountability for assets. The
concept of reasonable assurance recognizes that the cost of a system of
internal accounting control should not exceed the benefits derived and also
recognizes that the evaluation of these factors necessarily requires estimates
and judgments by management.
There are inherent limitations that should be recognized in considering the
potential effectiveness of any system of internal accounting control. In the
performance of most control procedures, errors can result from
misunderstanding of instructions, mistakes of judgment, carelessness, or other
personal factors. Control procedures whose effectiveness depends upon
segregation of duties can be circumvented by collusion. Similarly, control
procedures can be circumvented intentionally by management either with respect
to the execution and recording of transactions or with respect to the
estimates and judgments required in the preparation of financial statements.
Further, projection of any evaluation of internal accounting control to future
periods is subject to risk that the procedures may become inadequate because
of changes in conditions and that the degree of compliance with the procedures
may deteriorate.
Mr. James F. Elliott -2- October 8, 1982
Our examination of the financial statements referred to above made in
accordance with generally accepted auditing standards, including the study and
evaluation of the City of Carlsbad's system of internal accounting control for
the year ended June 30, 1982, that was made for the purposes set forth in the
first paragraph of this report, would not necessarily disclose all weaknesses
in the system because it was based on selective tests of accounting records
and related data. However, such study and evaluation disclosed no conditions
that we believe to be material weaknesses.
Our examination of the financial statements referred to above was further made
for the purpose of determining compliance with the Transportation Development
Act (the Act), the rules and regulations of the San Diego Association of
Governments (TPA), and the California Administrative Code (CAC) including
Section 6666. Among the items considered was the determination of propriety
of expenditures in accordance with the Act and the regulations of the TPA and
conformity with Sections 99301 and 99405 of the Public Utilities Code. Our
evaluation of compliance factors disclosed no conditions that we believe to be
areas of non-compliance.
Cordially,
KENNETH CORY, STATE CONTROLLER
Earl L. Lucas
Assistant Deputy State Controller
Local Government
By
Donald E. Etzl/r, Chief
Bureau of Street^ and Roads
(916) 322-5613
DEE/gk
Attachments
022 Ab
AUDIT REPORT FOR THE
SERRA COOPERATIVE LIBRARY SYSTEM
FISCAL YEAR JUNE 30, 1981
DELIVERY 05/13/82
C
OFFICE OF THE AUDITOR AND CONTROLLER
1600 Pacific Highway « San Diego, CA 92101
Rod Calvao
Auditor and Controller
236-3711
BOARD OF SUPERVISORS
TOM HAMILTON
f!H»T DISTRICT
PAUL, W. FORDEM
SCCOND DISTRICT
ROGER HEDGECQCK
THIRD DISTRICT
JIM BATES
PAUL ECKEHT
^IPTM DISTRICT
March 1, 1982
System Director
Serra Cooperative Library System (070)
5555 Overland Avenue
San Diego, CA 92123
We have examined the balance sheets of the Serra Cooperative Li-
brary System as of June 30, 1981 and 1980, and related statements
of revenues, expenditures and changes in fund balance for the
years then ended in accordance with Section 6505 of the Califor-
nia Government Code. Our examinations were made in accordance
with generally accepted auditing standards and, accordingly, in-
cluded such tests of the accounting records and such other audit-
ing procedures as we considered necessary in the circumstances.
In our opinion, the financial statements referred to above present
fairly the financial position of the Serra Cooperative Library
System as of June 30, 1981 and 1980, and the results of its opera-
tions for the fiscal years then ended, in conformity with general-
ly accepted accounting principles applied on a consistent basis.
DAVE KLEVEN
Chief, Audit Division
AU:DK:JM:405
cc: Board of Supervisors (A500)
Grand Jury (C40)
City of San Diego
Oceansi de
Carlsbad
Escondido
Coronado
Imperial
of
of
of
of
City
City
City
City
County of
Files (2)
JAMES M. STARK
Audit Manager
City of National City
City of Chula Vista
City of Brawley
City of El Centre
City of Imperial
California State
Li brari an
Office of Management
and Budget (A214)
SERRA COOPERATIVE LIBRARY SYSTEM
BALANCE SHEET
JUNE 30, 1981 AND 1980
Assets
Cash in Treasury
Cash on Hand (Note 3)
Cash in Bank
Apportionment Receivable
Accounts Receivable
Due from Other Funds
Fixed Assets
Total Assets
General Fund
June 30
1981 1980
$149,700 $155,751
115,550
23,151
2,910
9,675
-0-
707
4,527
7,041
45,199
-0-
General Fixed Fund
Group of Accounts
June 30 June 30
1981 1980
$300,986 $213,225
$ 60.398 $ 58,996
$ 60,398 $ 58,996
Liabilities and Fund Balances
Liabi 1 iti es :•
Accounts Payable
Due to Other Funds (Note 7)
Deferred Credit (Note 4)
Total Liabilities
Fund Balances:
Reserved for Encumbrances
Unreserved
Equity in Fixed Assets
Total Fund Balances
Total Liabilities and Fund
Balances
$ 22,002 $ 8,274
22,973 7,318
60,986
105.961
14,469
180,556
-0-
15.592
13,933
183,700
195,025 197,633
$300.986 $213,225
60,398 58,996
60,398 58.996
$ 60,398 $ 58,996
The notes to the Financial Statements are an integral part of this
statement.
SERRA COOPERATIVE LIBRARY SYSTEM
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE
FOR THE YEARS ENDED JUNE 30, 1981 AND 1980
Revenues:
Federal Grant
State Grant
Local Contri butions-CLSA
Interest Income
Total Revenues
Expenditures :
Salaries and Benefits
Special Dept. Expense (Note
Overhead (Note 6)
Books and Publications
Other Operating Expenses
Fixed Assets
Total Expenditures
Excess of Revenues Over
(Under) Expenditures
Fund Balances - July 1
Prior Period Adjustment -
Over Accrued Revenue
Fund Balances - June 30
Budget
$126,983
241,115
164,358
71,113
$603,569
331,624
5) 139,925
20,000
5,000
95,020
12,000
603,569
$ -0-
Actual
$121,521
234,280
98,610
17,256
$471,667
328,314
-0-
25,798
22,840
97,901
-0-
474,853
( 3,186)
197,633
578
$195,025
Over
(Under)
Budget
$( 5,462)
( 6,835)
( 65,748)
( 53,857)
$(131,902)
( 3,310)
(139,925)
5,798
17,840
2,881
( 12,000)
(128,716)
$( 3,186)
Actual
Prior
Year
$121,447
212,804
78,705
21,743
$434,699
-0-
294,283
20,880
16,543
89,663
7,329
428,698
6,001
192,170
( 538)
$197,633
The notes to the Financial Statements are an integral part of this
agreement.
SERRA COOPERATIVE LIBRARY SYSTEM
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1981
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. GENERAL BASIS OF ACCOUNTING:
The Serra Cooperative Library System (SCLS) uses the
modified accrual basis of accounting under which ex-
penditures are recorded at the time liabilities are
incurred and revenues are recorded when received in
cash, unless they are susceptible to accrual; i.e.,
measurable and available to finance the SCLS's opera-
tions or of a material amount and not received at the
normal time of receipt prior to year end; e.g., State
and Federal grant payments.
B. FIXED ASSETS:
General Fixed Assets are recorded as expenditures in
the General fund at the time of purchase. Those as-
sets are capitalized at cost in the General fixed As-
set group of accounts. No depreciation has been
provided on General Fixed Assets.
Note 2. GENERAL
The Serra Cooperative Library System was created by a Joint
Powers Agreement entered into on June 30, 1965, between the
cities of San Diego, Oceanside, National City, and Carls-
bad. The Agreement was amended three times to include the
cities of Brawley, Calexico, Chula Vista, Coronado, El
Centre, Escondido, Imperial, and the counties of San Diego
and Imperial. All public libraries in San Diego and Impe-
rial counties are members now. The purpose of the Agree-
ment was to improve and extend public library services to
all residents of California cities and counties by closer
cooperation between their respective libraries.
The Agreement provides that the System shall be governed
by an Administrative Council consisting of the head libra-
rians of each member library. The Administrative Council
will elect one of the members as president, who shall serve
for one year.
The Agreement (Fourth Amendment) designates the County of
San Diego to provide headquarters for the System and act
as contracting agency with the State of California for for
the receipt of disbursements and accounting of such funds
as may be allocated by the State and Federal Government
for System use.
Serra Cooperative Library System
Notes to Financial Statements
June 30, 1981
Page Two
Effective July 1, 1978 the name of the organization
was changed from Serra Regional Library System to
Serra Cooperative Library System. The new By-Laws
also determined that the governing board be the Ad-
ministrative Council, represented by the head libra-
rian of each member library jurisdiction. The offi-
cers - Chairman and Vi ce-Chai rman are elected by the
Administrative Council and are not to serve more than
two consecutive terms in the same office.
Note 3. Cash on Hand
The amount of $115,550 consists of 1980/81 revenue which
was deposited in July 1981 and considered in transit at
June 30, 1981.
Note 4. Deferred Credit
The amount of $60,986 consists of 1981/82 revenue which
was received and deposited before June 30, 1981.
Note 5. Special Departmental Expenditures
In prior years salaries and benefits paid to Serra em-
ployees were charged to the above account. For the
current year the account description was changed to
Salaries and Benefits.
Note 6. Overhead
The overhead expenditures consist of indirect costs charged
the County Library through a cost allocation plan formu-by di-lated pursuant to Federal Management Circular A-87 and
rect charges for the County Library's Chief of Administra-
tive Services and principal clerk via work authorizations
for performing Serra related functions.
Note 7. Due to Other Funds
Amount Charged by County Library
for A-87 overhead costs
Charges from Work Authorizations
Audit Adjustment due to a revised
overhead allocation
$ 47,102
1,126
48,228
(25.255)
$ 22,973
KENNETH CORY
(EtmtroIIsr of % jifctie of (Ealifontra
SACRAMENTO, CALIFORNIA 958O5
March 19, 1982
Mr. James F. Elliott
Finance Director
City of Carlsbad
1200 Elm Avenue
Carlsbad, California 92008
Dear Mr. Elliott:
We have examined the financial statements of the City of Carlsbad pertaining
to Article 3, Section 99234(a) for the fiscal year ended June 30, 1981 and
have issued our report thereon dated December 22, 1981. As a part of our
examination, we made a study and evaluation of the City of Carlsbad's system
of internal accounting control to the extent we considered necessary to
evaluate the system as required by generally accepted auditing standards.
Under these standards, the purposes of such evaluation are to establish a
basis for reliance on the system of internal accounting control in determining
the nature, timing, and extent of other auditing procedures that are necessary
for expressing an opinion on the financial statements referred to above and to
assist the auditor in planning and performing his examination of the financial
statements.
The objective of internal accounting control is to provide reasonable, but not
absolute, assurance as to the safeguarding of assets against loss from
unauthorized use or disposition, and the reliability of financial records for
preparing financial statements and maintaining accountability for assets. The
concept of reasonable assurance recognizes that the cost of a system of
internal accounting control should not exceed the benefits derived and also
recognizes that the evaluation of these factors necessarily requires estimates
and judgments by management.
There are inherent limitations that should be recognized in considering the
potential effectiveness of any system of internal accounting control. In the
performance of most control procedures, errors can result from
misunderstanding of instructions, mistakes of judgment, carelessness, or other
personal factors. Control procedures whose effectiveness depends upon
segregation of duties can be circumvented by collusion. Similarly, control
procedures can be circumvented intentionally by management either with respect
to the execution and recording of transactions or with respect to the
estimates and judgments required in the preparation of financial statements.
Further, projection of any evaluation of internal accounting control to future
periods is subject to risk that the procedures may become inadequate because
of changes in conditions and that the degree of compliance with the procedures
may deteriorate.
Mr. James F. Elliott -2- March 19, 1982
Our examination of the financial statements referred to above made in
accordance with generally accepted auditing standards, including the study and
evaluation of the City of Carlsbad's system of internal accounting control for
the year ended June 30, 1981, that was made for the purposes set forth in the
first paragraph of this report, would not necessarily disclose all weaknesses
in the system because it was based on selective tests of accounting records
and related data. However, such study and evaluation disclosed no conditions
that we believe to be material weaknesses.
Our examination of the financial statements referred to above was further made
for the purpose of determining compliance with the Transportation Development
Act (the Act), the rules and regulations of the San Diego Association of
Governments (TPA), and the California Administrative Code (CAC) including
Section 6666. Among the items considered was the determination of propriety
of expenditures in accordance with the Act and the regulations of the TPA and
conformity with Sections 99301 and 99405 of the Public Utilities Code. Our
evaluation of compliance factors disclosed no conditions that we believe to be
areas of non-compliance.
Cordially,
KENNETH CORY, STATE CONTROLLER
Earl L. Lucas
Assistant Deputy State Controller
Local Government
By
Donald E. Etzlef, Chief
Bureau of Streets and Roads
(916) 322-5613
DEE/jn
Attachments
6295A
CITY OF CARLSBAD
REPORT OF EXAMINATION OF THE
LOCAL TRANSPORTATION FUND
FOR THE FISCAL YEARS ENDED
JUNE 30, 1980 AND 1981
KENNETH CORY
STATE CONTROLLER
DIVISION OF LXAL GOVERNMENT FISCAL AFFAIRS
BUREAU OF STREETS AND ROADS
CITY OF CARLSBAD
TABLE OF CONTENTS
JUNE 30, 1981
Auditor's Report 1
Comparative Balance Sheets 3
Statement of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual 4
Supplemental Schedule - Schedule of Transportation
Development Act Allocations for Specific Projects 5
Footnotes to the Financial Statements 6
KENNETH CORY
of % jiiale of California
SACRAMENTO. CALIFORNIA 958O5
December 22, 1981
Mr. Richard J. Huff
Executive Director
San Diego Association of Governments
Security Pacific Plaza
1200 Third Avenue, Suite 524
San Diego, California 92101
Dear Mr. Huff:
We have examined the balance sheets of the Local Transportation Fund of the
City of Carlsbad as of June 30, 1981 and June 30, 1980, and the related
statement of revenues and expenditures and changes in fund balance for the
years then ended. Our examinations were 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 aforementioned financial statements present fairly the
financial position of the Local Transportation Fund of the City of Carlsbad at
June 30, 1981 and June 30, 1980 and the results of operation of such fund for
the years then ended, in conformity with generally accepted accounting
principles applied on a consistent basis.
Our examination was also made for the purposes of determining compliance with
the Transportation Development Act Section 99234(a), the California
Administrative Code and the rules and regulations of the San Diego Association
of Governments. In our examination we performed to the extent applicable the
tasks contained in Section 6666 of the California Administrative Code.
In our opinion, the funds described above were expended and accounted for in
conformance with the applicable laws, rules, and regulations of the
Transportation Development Act and the allocation instructions of the
San Diego Association of Governments.
Mr. Richard J. Huff -2- December 22, 1981
The accompanying supplemental information is not necessary for a fair
presentation of the financial statements but is presented as additional
analytical data. The supplemental information has been subjected to the tests
and other auditing procedures applied in the examination of the financial
statements listed in the foregoing table of contents and, in our opinion, is
fairly stated in all material respects in relation to the financial statements
taken as a whole.
Cordially,
KENNETH CORY, STATE CONTROLLER
Earl L. Lucas
Assistant Deputy State Controller
Local Government
By nrwivi* 7 •
Donald E. Etzle/, Chief
Bureau of Street? and Roads
(916) 322-5613
DEE/jn
Attachments
6295A
cc: City of Carlsbad
Secretary of Business and Transportation
CITY OF CARLSBAD
LXAL TRANSPORTATION FUND
COMPARATIVE BALANCE SHEETS
Pertaining to Section 99234(a) of the Public Utilities Code
June 30, 1981 and June 30, 1980
1981 1980
Assets
Cash $ 4,414 $ 43,011
Investments 72,000 60,000
Accrued Interest Receivable 1,937 2,645
Due From General Fund -0- 4,000
See accompanying notes to financial statements.
-3-
Total Assets $ 78,351 $109,656
Liabilities and Fund Balance
Fund Balance $ 78,351 $109,656
Total Liabilities and
Fund Balance $ 78,351 $109.656
CITY OF CARLSBAD
LOCAL TRANSPORTATION FUND
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Pertaining to Section 99234(a) of the Public Utilities Code
Year Ended June 30, 1981
With Comparative Actual Amounts for Year Ended June 30, 1980
1981
Budget
Variance
Favorable 1980
Actual (Unfavorable) Actual
Revenues:
Intergovernmental
Allocations:
Miscellaneous:
Interest
Total
$ -0- $ -0- $ -0- $164,492
-0-
-0-
6,885
6,885
6,885 13,743
6,885 178,235
Expenditures:
Construction
Total
Excess (Deficiency)
of Revenues Over
Expenditures
Fund Balance at Beginning of Year
86,383 38,190
86,383 38.190
48,193 104,109
48,193 104.109
(86,383) (31,305) 55,078 74,126
109,656 109,656 -0- 35,530
Fund Balance at End of Year $ 23.273 $ 78.351 $ 55.078 $109.656
See accompanying notes to financial statements.
-4-
CITY OF CARLSBAD
LOCAL TRANSPORTATION FUND
SECTION 99234(a) PUBLIC UTILITIES CODE
SCHEDULE OF TRANSPORTATION DEVELOPMENT ACT
ALLOCATIONS FOR SPECIFIC PROJECTS
As of June 30, 1981
Proj.
No. Project Description
Totals
Totals to Date — Unexpended Project
Allocations Expenditures Allocations Status
3007 Coastal Bike Route $194,492 $142,299 $ 52,193
$194.492 $142.299
Add: Unexpended Interest Accumulated
to Date
Fund Balance, June 30, 1981
Open -
Construction to
continue during
1981-82
52,193
26,158
$ 78.351
See notes to financial statements.
-5-
CITY OF CARLSBAD
FOOTNOTES TO THE FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30, 1981
A. Basis of Accounting:
The Local Transportation Fund is accounted for using the modified accrual
basis of accounting whereby revenues are recognized when they become both
measurable and available to finance expenditures of the current period and
expenditures are generally recognized when the related fund liabilities
are incurred.
B. Interest Income:
Interest income derived from the investment of Article 3 funds, was
computed on the basis of average monthly cash balance totals.
u--
KENNETH CORY
of tfye jifoie of
SACRAMENTO. CALIFORNIA S58OS
February 26, 1982
Ms. Adriana Gianturco, Director
Department of Transportation
1120 N Street
Sacramento, California 95814
Dear Ms. Gianturco:
Enclosed please find our report of examination of the City of Carlsbad
in connection with Agreement 11-5308 between the State Department of
Transportation and the City of Carlsbad, under the provisions of the
Federal Aid Emergency Repair Program.
Sincerely,
/v •
Clinton K. Armstrong, Chief
Regional Audit Branch
Division of Audits
me
CITY OF CARLSBAD
REPORT OF EXAMINATION
FEDERAL AID EMERGENCY REPAIR PROGRAM
AGREEMENT NUMBER 11-5308
FEBRUARY 26, 1982
Kenneth K. Okino, Audit Manager
Phone: (213) 575-7080
Audit Staff: Evelyn Teramae
State Controller's Office
Division of Audits
3212 Rosemead Boulevard
El Monte, California 91731
TABLE OF CONTENTS
Page Number
Auditor's Certification 1
Schedule 1 - Summary of Project Costs 2
KENNETH CORY
of % ^iafa> of (ttalifbrma
SACRAMENTO. CALIFORNIA 858O5
February 26, 1982
Ms. Adriana Gianturco, Director
Department of Transportation
1120 N Street
Sacramento, California 95814
Dear Ms. Gianturco:
We have examined the records of the City of Carlsbad in connection with Agreement
11-5308 between the State Department of Transportation and the City of Carlsbad,
under the provisions of the Federal Aid Emergency Repair Program. Our examination
was made in accordance with generally accepted government auditing standards and
included such tests of accounting records and such other auditing procedures we
considered necessary in the circumstances. The scope of our audit was limited
to a desk review of supporting documentation submitted by the city.
In our opinion, the Federal ER Project Cost Summary shown on Schedule 1 presents
fairly the amounts approved, claimed and eligible in accordance with the financial
provisions of the agreement.
It should be understood that our examination was directed primarily to the
expresssion of an opinion on the accompanying Federal ER Project Costs Summary
and would not necessarily disclosed all irregularities of a compliance nature.
Respectfully submitted,
Jack R. Brown, Chief
Division of Audits
me
-1-
SCHEDULE 1
V...
CITY OF CARLSBAD
FEDERAL AID EMERGENCY REPAIR PROGRAM
SUMMARY OF PROJECT COSTS
AGREEMENT NUMBER 11-5308, FEDERAL PROJECT NUMBER ER-870(1)
Agreement Reported And
Line Item Location Estimate Audited Costs
ER-870CD On FAU Route S-344, El
Camino Real south of
Marion Road in the City
of Carlsbad
Total Emergency Opening
Costs $ 2.950 $ 955
Less Advance of Funds
on 9/5/79 ( 955)
Refund Due State and/or
Additional Payment to City
-2-
KENNETH CORY
(jdmttroller of ifye Jiiate cf
SACRAMENTO. CALIFORNIA 958O5
February 19, 1982
Ms Adriana Gianturco, Director
Department of Transportation
1120 N Street
Sacramento, CA 95814
Dear Ms Gianturco:
Enclosed please find our report of examination of the City of Carlsbad in con-
nection with Agreement 11-5308 between the State Department of Transportation
and the City of Carlsbad, under the provisions of the Federal Aid Emergency
Repair Program.
Very truly yours.
Clinton K. Armstrong, Chief
Regional Audits Branch
Division of Audits
CKA:mp
Enclosure
cc: Authorized Agent
•^Sity Manager
Office of Emergency Services, Emergency Assistance
CITY OF CARLSBAD
REPORT OF EXAMINATION
FEDERAL AID EMERGENCY REPAIR PROGRAM
AGREEMENT NUMBER 11-5308
FEBRUARY 19, 1982
Kenneth Okino, Audit Manager
Phone: (213) 575-7080
Audit Staff: Evelyn Teramae
State Controller's Office
Division of Audits
3212 Rosemead Blvd.
El Monte, CA 91731
E82-FLR-009
TABLE OF CONTENTS
Page Number
Auditor's Certification 1
Schedule 1 - Summary of Project Costs 2
KENNETH CORY
of ifye jiiaie cf OMtfornm
SACRAMENTO, CALIFORNIA S58O5
February 19, 1982
Ms Adriana Gianturco, Director
Department of Transportation
1120 N Street
Sacramento, CA 95814
Dear Ms Gianturco:
We have examined the records of the City of Carlsbad in connection with Agreement
11-5308 between the State Department of Transportation and the City of Carlsbad,
under the provisions of the Federal Aid Emergency Repair Program. Our examina-
tion was made in accordance with generally accepted government auditing stan-
dards and included such tests of accounting records and such other auditing
procedures we considered necessary in the circumstances. The scope of our
audit was limited to a desk review of supporting documentation submitted by
the city.
In our opinion, the Federal ER Project Cost Summary shown on Schedule 1 pre-
sents fairly the amounts approved, claimed, eligible and questioned in accor-
dance with the financial provisions of the agreement.
It should be understood that our examination was directed primarily to the
expression of an opinion on the accompanying Federal ER Project Costs Summary
and would not necessarily disclose all irregularities of a compliance nature.
Respectfully submitted,
Jack R. Brown, Chief
Division of Audits
JRB:mp
SCHEDULE 1
CITY OF CARLSBAD
FEDERAL AID EMERGENCY REPAIR PROGRAM
SUMMARY OF PROJECT COSTS
AGREEMENT NUMBER 11-5308, FEDERAL PROJECT NUMBER ER-961(1)
Agreement Reported Audit Audited
Estimate Costs Adjustment Costs
Line Item Location
ER-961(1) On FAU Route S 347
La Costa Ave. East
of Romeria Ave in
the City of Carlsbad
Total Emergency
opening $1,369 $628 $(82)* $ 546
Less Advance of funds
on 4-28-81 (628)
Refund Due the State $ 82
*Audit Adjustment:
Reported overhead charges is an administrative expenditure not
directly related to emergency opening, work and is not eligible for
.reimbursement.
- 2 -
CITY OF CARLSBAD
Water Utility Fund
Financial Statements
June 30, 1982 and 1981
(With Accountants' Report Thereon)
rr» V->OIN 1V\JL) CERTIFIED PUBLIC ACCOUNTANTS
^ASSOCIATES FOURTEEN CORPORATE PLAZA DRIVE
NEWPORT BEACH, CALIFORNIA 92660
714/759-0511
The Honorable Mayor and City Council
City of Carlsbad, California
We have examined the balance sheets of the Water Utility Fund of
the City of Carlsbad, California, as of June 30, 1982 and 1981 and
the related statement of earnings and retained earnings and
changes in financial position for the years then ended. Our
examinations were 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 aforementioned financial statements present
fairly the financial position of the Water Utility Fund of the
City of Carlsbad, California at June 30, 1982 and 1981, and the
results of its operations and changes in its financial position
for the years then ended, in conformity with generally accepted
accounting principles applied on a consistent basis.
September 27, 1982
CITY OF CARLSBAD
Water Utility Rind
Balance Sheet
June 30, 1982 and 1981
Assets
Current assets:
Cash and cash equivalents (note 3)
Iteceivables:
Accounts
Accrued interest
Inventory, at cost
Prepaid expenses
Total current assets
1982
1,600,549
421,570
13,732
105,432
5.317
2,146,600
1981 Liabilities
Current liabilities (payable from
1,454,237 current assets):
Accounts payable
437,686 Accrued salaries
4,377 Due to sanitation fund
96,314 Due to sewer construction fund
5,328 Deposits payable
1,997,942 Total current liabilities
(payable from current assets)
1982
96,493
9,182
69,774
175,449
1981
96,785
6,700
21,628
14,000
61,421
200,534
Restricted assets:
Cash and cash equivalents (note 3)
Accrued interest
Total restricted assets
Current liabilities (payable from
1,365,595 1,322,851 restricted assets):
8,422 31,731 Accrued interest
Current portion of revenue bonds payable
1,374,017 1,354,582 Total current liabilities (payable
from restricted assets)
Total current liabilities
115,000
115,000
290,449
37,334
105.000
142,334
342,868
Property, plant, and equipment:
Land and water rights
Buildings
Wells, reservoirs, and dams
Transmission and distribution lines
Filters and pumps
Fire hydrants
Equipment and vehicles
Fire Protection Services
Construction in progress
Less accumulated depreciation
Net property, plant, and equipment
Total assets
231,956
37,964
1,289,853
3,879,689
147,349
326,656
258,177
3,916
66,817
6,242,377
(1,778,688)
4,463.689
$ 7,984,306
231,956
37,964
1,289,853
3,819,135
147,349
312,665
244,797
63,769
6,147,488
(1,632,993)
4,514,495
7,867,019
Long-term liabilities (note 4):
Revenue bonds payable (net of unamortized
discount of $9,317 and current portion) 1,017,683 1,242,005
Total liabilities 1.308,132 1.584,873
Fund equity:
Contributed capital 2,248,965 2,248,965
Retained earnings:
Rsserved for construction 527,161 382,715
Reserved for debt service 883,998 837,438
Designated for continuing appropriations 474,080 2,069,000
Unreserved, undesignated 2,541,970 744,028
Total retained earnings 4,427,209 4,033,181
Total fund equity 6,676.174 6,282,146
Total liabilities and fund equity $7,984,306 7,867,019
See accompanying Motes to Financial Statements
CITY OF CARLSBAD
Water Utility Fund
Statement of Earnings and
Retained Earnings
Years ended June 30, 1982 and 1981
Operating revenues:
Metered Water Sales
Other Charges for Services
Total operating revenues
Operating expenses:
Personal services
Office expenses
Repairs and maintenance
Professional services
Transportation
Insurance
Purchased water
Depreciation and amortization
Total operating expenses
Operating income
Non-operating revenues (expenses):
Interest income
Interest expense and fiscal agent fees
Contributions & Donations from Private
Sources
Total non-operating revenues
(expenses)
Net income
Retained earnings at beginning of year,
as previously reported
Effect of change in accounting principles
(note 2)
Retained earnings at beginning
of year, as adjusted
Retained earnings at end of year
1982
$1,679,299
7,077
361,552
24,670
100,056
152,333
3,067
18,004
814,410
146,427
1,620,519
65,857
1981
1,707,757
67,977
1,686,376 1,775,734
319,583
(69,715)
78,303
326,440
22,420
130,185
120,350
15,876
54,965
842,039
143,481
1,655,756
119,978
221,857
(74,985)
328,171
394,028
146,872
266,850
4,033,181 4,616,854
(850,523)
4,033,181 3,766,331
$4,427,209 4,033,181
See accompanying Notes to Financial Statements.
CITY OF CARLSBAD
Water Utility Fund
Statement of Changes in Financial Position
Year ended June 30, 1982 and 1981
1982 1981
Sources of working capital:
Operations
Net income $ 394,028 266,850
Items not requiring working capital: .
Depreciation and amortization 146,427 143,481
Working capital provided
by operations 540,455 410,331
Uses of working capital:
Acquisition of property, plant,
and equipment 104,943 25,355
Decrease in long-term revenue bonds payable 215,000 105,000
Net increase in other restricted assets 19,435 102,866
Net decrease in other current liabilities
payable from restricted assets 27,334 24,344
Total uses of working capital 366,712 257,565
Net increase in working capital $ 173,743 152,766
Elements of net increase (decrease) in
unrestricted working capital:
Cash and cash equivalents $ 146,312 172,003
Accounts receivable (16,116) 63,901
Accrued interest receivable 9,355 (24,709)
Inventory 9,118 5,775
Prepaid expenses (11) (2,269)
Accounts payable 292 24,693
Accrued salaries (2,482) (6,700)
Due to other funds 35,628 (35,628)
Deposits payable (8,353) (44,300)
Net increase in working capital $ 173,743 152,766
See accompanying Notes to Financial Statements.
CITY OF CARLSBAD
Water Utility Fund
Notes to Financial Statements
June 30, 1982 and 1981
(1) Summary of Significant Accounting Policies
The Water Utility Fund is an enterprise fund of the City of
Carlsbad, California which is used to account for activities
necessary to provide water services to the residents of the City
including, but not limited to, operations, maintenance, financing
and related debt service, billing and collection, and the
acquisition of fixed assets that are utilized in providing these
services.
As an enterprise fund, its operations are financed and operated in
a manner similar to 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 changes.
The accounting policies of the City of Carlsbad with regard to
this fund conform to generally accepted accounting principles as
applicable to governments. The following is a summary of the more
significant accounting policies:
(a) Measurement Focus
The Water Utility Fund is 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.
(b) Basis of Accounting
The basis of accounting stipulates the timing of the
measurements made under the measurement focus used. The
revenues, expenses, and transfers - and the related assets and
liabilities - are recognized in the accounts and reported in the
financial statements under the accrual basis of accounting.
Revenues are recognized when they are earned and their expenses
are recognized when they are incurred.
(c) Cash Equivalents
Cash equivalents are stated at cost, which approximates market.
CITY OF CARLSBAD
Water Utility Fund
Notes to Financial Statements, Continued
(d) Inventories
Inventories consist of materials and supplies which are valued
at cost.
(e) Property, Plant and Equipment
Property, plant and equipment are stated at cost or fair market
value at the date contributed. Depreciation has been provided
over the estimated useful lives of the assets using the
straight-line method.
(2) Changes in Accounting Principles
Effective July 1, 1980, the City changed its method of accounting
for accrued payroll, depreciation of certain fixed assets not
previously depreciated and the write-off of meters and services
previously capitalized. These changes were made to comply with
Statement 1 of the National Council on Governmental Accounting.
These accounting changes are as follows:
Increase (decrease) in retained earnings:
Accrual of wages payable 3 (4,339)
Services and meters previously capitalized
and not depreciated, considered as
expenses of prior years (812,483)
Fire hydrants not previously depreciated (33,701)
$(850,523)
(3) Cash and Cash Equivalents
A summary of cash and cash equivalents is as follows:
1982 1981
Interest Rates Cost Interest Rates Cost
Unrestricted current assets:
Cash - $ 124,549 - $ 69,237
Certificates of deposit 13.75 - 15.75% 1,240,000 12.5% - 19% 516,000
Banker's acceptance and
federal agency notes 13.60 - 14.50% 236,000 13.5% - 18.75% 869,000
$1,600,549 $ 1,454,237
CITY OF CARLSBAD
Water Utility Fund
Notes to Financial Statements, Continued
Restricted current assets:
Cash
Certificates of deposit
Banker's acceptance and
federal agency notes
13.75 - 15.75%
13.60 - 14.50%
$ 109,854
960,000 12.5% - 19%
295,741 13.5% - 18.75%
$1,365,595
$ 3,051
1,084,000
235,800
$ 1,322,851
(4) Long-Term Debt
A summary of Revenue Bonds Payable
1982 1981
1958 Waterworks Revenue Bonds, principal due
in amounts ranging from $35,000 to 47,000 on
July 1 of each year through 1988 (Interest
is payable on January 1 and July 1 of each
year at varying rates from 4.25% to 4.10%)
1960 Waterworks Revenue Bonds principal
due in amounts ranging from $10,000 tO 65,000
on July 1 of each year through 1990 (Interest
is payable on January 1 and July 1 of each year
at varying rates from 4.25% to 3.875%)
1970 Waterworks Revenue Bonds and principal
due in amounts ranging from $55,000 to
100,000 on July 1 of each year through 1990
(Interest is payable on January 1 and July 1
of each year at varying rates from 6% to 6.9%)
Total revenue bonds payable
Less unamortized discount
$ 257,000 $ 332,000
195,000 215,000
690,000 810,000
Less current portion
$1,142,000 $1,357,000
9,317 9,995
1,347,005
115,000 105,000
$1,017,683 $1,242,005
ENCINA WATER POLLUTION* CONTROL FACILITY
FINANCIAL INFORMATION
WITH REPORT ON EXAMINATION BY CERTIFIED PUBLIC ACCOUNTANTS
June 3d, 1982
ENCINA WATER POLLUTION CONTROL FACILITY
June 30, 1982
Table of Contents
Page
Numb e r
Accountants' Report •,
Schedule of Ownership of Plant and Equipment 2
Schedule of Participants' Accounts 3
Schedule of Allocation of Revenue, Operating
Costs and Expenses ^
Schedule of Cash in Vista Trust Accounts 5
Schedule of Changes in Reserve for Non-grant
Funded Projects /•
Notes to Financial Schedules 7-10
c
HRV-V £!. EVANS. :.".».
fHll'P M. MOLTAA«P C.fA
>VIN G. PETERS. C P.i.
C-ONALD K. PETERSON. C.= -
PC^AI-D t. CALL-\MiN. C Pi.
. f'CTEB SCHEME.-,-. C.e-V
DIEHL. EVANS AND COMPANY
A PARTNERS^*3 CF ACCOU\rANO CC»P^-A-'ONS
CERTIFIED PUBLIC ACCOUNTANTS
2965 ROOSEVELT ST<?ECT
CARLSBAD. CALIFORNIA 92OOS
(7141 729-3343 (714) 74J-JJ I
September 14, 1982
OTHER OFFICES AT:
•vO WEST \VOOOWAflD AVENUE
ESCONDIDO. CALIFORNIA 92O25
(714) 741-3141
? O NORTH BUSH STFTEE*
SANTA ANA. CALIFORNIA
(7141 542-4453
ACCOUNTANTS' REPORT
Joint Advisory Committee
Encina Water Pollution Control Facility
Carlsbad, California
We have examined the schedule of ownership of plant and equipment of the
ENCINA WATER POLLUTION CONTROL FACILITY as of June 30, 1982 and the related
schedules of participants' accounts, allocation of revenue, operating costs
and expenses, cash in Vista trust accounts, and schedule of changes in reserve
for non-grant funded projects for the year then ended. Our examination was made
in accordance with generally accepted auditing standards, and accordingly, in-
cluded such tests of the accounting records and such other auditing procedures
as we considered necessary in the circumstances. '..
In our opinion, the schedules referred to above present fairly the owner-
ship of plant and equipment of the ENCINA WATER POLLUTION CONTROL FACILITY as
of June 30, 1982, and the allocation of revenue, operating costs and expenses,
participants' accounts, cash in Vista trust accounts, and changes in reserve
for non-grant funded projects for the year then ended, applied on a basis
consistent with that of the preceding year.
—i—
ENCINA WATER POLLUTION CONTROL FACILITY
SCHEDULE OF OWNERSHIP OF PLANT AND EQUIPMENT
June 30. 1982
Percentage Ownership
B»it . V C B SM L E
A 100.0
B 93.0 7.0
C 84.5 15.5
3 84.5 15-5
E 72.7 27.3
f 52.7 37.3
G 61.5 38.5
(Includes force main)
H 48.3 51.7
1 29.46 24.95 4.51 17.45 16.36 7.27
J 16.67 28.66 13.00 16.67 16.67 8.33
SYSTEM TOTALS
Ottice rquipaenc and Furnishings (1)
Plant Equipment (1)
Encina Plant Projects and Design Work (1)
TOTAL PLAXT AND EQUIPMENT -
BEFORE CONSTRUCTION IN PROGRESS
Construction in Progress, Encina Plant:
Expansion Phase III (Note 3)
Expansion Phase III-A (Xote 3)
TOTAL PLAXT AND EQUIPMENT
Total Costs
(Notes 2 and 3)
$ 252,526
326,406
195,513
93,925
169,419
379,776
118,564
513,056
2,819,076
2,171,685
7.039,946
46,064
94,920
206,524
7,387,454
43,363,534 '
22.279 .
$ 50,773.267
Vista
$ 252.526
303,558
165,208
79,367
123,168
238,120
72,917
247,806
830,500
362,020
2,675,190
13,571
27,963
60,842
$ 2,777,566
Carlsbad
S 22,848
30,305
14.558
46,251
141,656
45,647
265,250
703,359
622,405
1,892,279
11,493
23,683
51,528
$ 1,978,983
Buena San Marcos Leucadia Encinitas
$127,140 $491,929 $461,201 $204,947
282.319 362,020 362,020 180,901
409,459 853, S49 823,221 385,848
2'078 8,038 7,536 3,348
4,281 16.563 15.529 6.901
_ 9,314 36.039 33,787 15,014
$ 425,132 $ 914,589 $ 880,073 $ 411,111
(1) Distributed on the same basis as Unit I.
accompanying accountants' report and notes to financial schedules
-2-
ENCINA WATER POLLUTION CONTROL FACILITY
SCHEDULE OF PARTICIPAHTS' ACCOUNTS
For the year ended June 30, 1982
Vista Sanitation District
City of Carlsbad
Buena Vista Sanitation District
Saa Xarcos County Water District
Leucadia County Kater District
Er.ciaitas Sanitary District
TOTALS
Due To (From)
Participants'
June 30. 1981
$ (21,315)
(12,779)
13,538
45,670
(2,064)
7.378
$ 30.428
Excess of Costs
And Expenses
Over Revenue
$ 399,160
274,718
42,154
182,337
169,446
42,270
$ 1.110,085
Participants*
Payments
$ 515,799
288,110
31,547
144,738
166,375
36.243
$ 1.182,812
Due To (From)
Participants"
June 30, 1982
$ 95,324
613
2,931
8.071
(5,135)
1.351
accountants' report and notes to financial schedules.
-3-
V
ENCINA WATER POHOT10N CONTROL FACILITY
SCHEDULE OF ALLOCATION OF REVENUE, OPERATING COSTS AND EXPENSES
For the year ended June 30, 1982
Total
HVENUE:
Interest incone (Ownership)
Septic haulers income (Note 4)
TOTAL REVENUE
OPERATING COSTS:
Unit:
A - Vista outfall (Ownership)
B - Joint Vista-Carlsbad outfall (Ownership)
C - Buena Vista punp station (Ownership)
D, E, F, and H - Vista - Carlsbad sewers
and force nains (Note 4)
G - Agua Redionda punp station (Note 4)
I - Encina plant (Note 4)
J - Encina ocean outfall (Note 4)
Capital outlays - (Ownership basis)
Industrial waste charges (direct costs)
Meter stations (direct costs) (Note 4)
Total Operating Costs
,A3.v;SISTm:VE EXPENSES:
Eirectors' meetings (direct costs)
Leucadia County Hater District administration (Note 4)
Professional services (Ownership)
Insurance (Ownership and Note 4) -
Custodial service (Ownership)
Travel and meetings (Sote i)
General aanager, office nanager and benefits (Note 4)
Otrice expense, etc. (Sote 4)
Total Administrative Expenses
TOTAL OPERATING COSTS AND
ADMINISTRATIVE EXPENSES
EXCESS OF COSTS AND EXPENSES OVER REVENUE
4,842
20,797
25,639
102,768
Vista
1,427
6.010
7.437
86,839
Carlsbad
$ 1,208
5,012
6,220
15,929
Buena
218
894
1,112
San Marcos
845
4.160
_.5.005
Leucadia
792
3,868
4.660
Enclnitas
352
853
1,205
10,703
61,318
726,924
32,082
18,028
2,831 .
954,654
3,350
15,000
27,003
31,867
6,579
4,918
82,193
10,160
181,070
1,135,724
$ 1,110,085
5,833
33,418
210,081
9,451
3,621
1,543
350,786
500
4,335
7,955
12,973
1,938
1,421
23,754
2,935
55,811
406,597
$ 399,160
4,870
27,900
175,188
8.005
3,668
1,288
236,848
625
3,615
6,737
8,029
1,642
1,185
19.808
2,449
44,090
280,938
$ 274,718
31,258
1,447
2,669
35,374
475
645
1,218
1,075
297
211
3,534
437
7,892
43,266
$ 42,154
145,385
5,598
3,335
154,318
550
3,000
4,712
4,159
1,148
984
16,439
2,032
33,024
187,342
S 182,337
135,208
5,249
2,774
143,231
600
2,790
4,418
3,898
1,076
915
15,288
1,890
30,875
174,106
$ 169,446
29,804
2,332
1,961
34,097
600
615
1.963
1,733
478
202
3,370
417
9,378
43,475
$ 42,270
i
:i!*»aying accountants' report and notes to financial schedules.
ENCINA WATER POLLUTION CONTROL FACILITY
SCHEDULE OF CASH IN VISTA TRUST ACCOUNTS
For the year ended June 30, 1982
CASH IN TRUST ACCOUNTS - July 1, 1981
CASK RECEIPTS:
Contributions from participants '
Interest earned
Clean water grants - Phase III
CASH EXPENDITURES:
Encina expansion - Phase III
CASH IN TRUST ACCOUNTS - June 30, 1982 (Note 1)
\ -\IL 901
County
Funds
3097-05
Phase III
? 5 , 593, 717
22.192.876
22,199,543
$ 5>587>050
«*» r
See accompanying accountants' report and
-5-
notes to financial schedules.
ENCINA WATER POLLUTION CONTROL FACILITY
SCHEDULE OF CHANGES IN RESERVE FOR NON-GRANT FUNDED PROJECTS
For the year ended June 30, 1982
BALANCE IN RESERVE - July 1, 1981
ADD: CONTRIBUTIONS FROM PARTICIPANTS
I.liSS: NON-GRANT FUNDED PROJECT EXPENSES:
Phase III-A (Note 3)
Solids Disposal
Phase IV study
Waiver application
BALANCE IN RESERVE - June 30, 1982 (Note 1)
$ 22,279
811
27,522
7,960
205,000
58,572
$ 146,428
^ accompanying accountants' report and notes to financial schedules.
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ENCINA WATER POLLUTION CONTROL FACILITY
NOTES TO FINANCIAL SCHEDULES
June 30, 1982
1. HISTORY AND ORGANIZATION:
On July 13, 1961, Vista Sanitation District and the City of Carlsbad entered
into an agreement for a joint sewer system known as the Encina Water Pollution
Control Facility. This agreement provided for the establishment, construction,
operation and maintenance of facilities for the transmission, treatment and
disposal of sewage which facilities shall comprise a single system of sanita-
tion works.
By virtue of subsequent amendments and supplements to this basic agreement,
Leucadia County Water District, Buena Vista Sanitation District, San Marcos
County Water District, and Encinitas Sanitary District also have become
participants in this Facility.
As of July 1, 1979, Leucadia County Water District became the operator and
administrator of the Facility and is responsible for the mangement, maintenance
and operations of the joint system. Vista Sanitation District remains the
administrator of'the Phase III plant enlargement. The cash in the Vista Trust
Account is comprised of amounts remitted by the participants, but not yet
disbursed for construction.
The reserve for non-grant funded projects is for expenditures for the design
of the Phase III-A Project and studies for the Ocean Waiver Application,
Phase IV Project and Solids Disposal problem. Costs will be allocated based on
ownership in Unit I after Phase III-A enlargement (see Note 3).
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
(a) The Facility records revenues and expenditures on the accrual basis.
(b) Acquisitions of plant and equipment are expensed on the records of
the Facility when acquired, as the assets are owned by the individual
participants. Ownership percentages are determined by joint agreement
at the time the assets are acquired.
Total costs, as reflected on the schedule of ownership, is based on
accumulated expenditures to date for the various units.
(c) Revenue and operating costs are allocated to the various participants
in accordance with their ownership percentages in the various units,
on usage based upon sewage flow or upon direct costs.
See accompanying accountants' report.
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ENCINA WATER POLLUTION CONTROL FACILITY
NOTES TO FINANCIAL SCHEDULES
(Continued)
June 30, 1982
3. PLANT AND EQUIPMENT:
Additions to plant and equipment consist of the following during the year
ended June 30, 1982:
Balance . , Balance
July 1, 1981 Additions Deletions June 30, 1982
System/units $ 7,095,946 $ $ 56,000 $ 7,039,946
Office building 11,194 - 11,194
Office equipment and
furnishings 16,951 29,113 - 46,064
Plant equipment 91,951 2.969 - 94,920
Encina plant projects 206,524 - - 206,524
Construction in Progress:
Encina Plant Expansion:
Phase III, Units I
and J 21,348,896 22,014,638 - 43,363,534
,^ Phase III-A - 22.279 - 22.279
TOTALS $ 28.771,462 $ 22,068,999 $__6_7_,194 $ 50,773.267
/
Construction in Progress:
Upon completion of the Encina Phase III and III-A enlargements, Unit I will be
enlarged from 13.75 MGD to 22.5 MGD, each of the participants shall have owner-
ship and capacity rights in Unit I and Unit J as follows:
UNIT I
After Phase III Enlargement After Phase III-A Enlargement
Participant MGD Percentage MGD Percentage
Vista
Carlsbad
Buena
San Marcos
Leucadia
Encinitas
5.40
4.56
0.82
3.22
3.00
1.00
30.00
25.33
4.55.
17.89
16.67
5.56
6.750
5.716
1.034
4.000
3.750
1.250
30.00
25.40
4.59
17.78
16.67
5.56 '
TOTALS 18.00 100.00 22.50 100.00
See accompanying accountants' report.
-8-
ENCINA WATER POLLUTION CONTROL FACILITY
NOTES TO FINANCIAL SCHEDULES
(Continued)
June 30, 1982
3, PLANT AND EQUIPMENT (Continued):
Construction in Progress (Continued);
Participant
Vista
Carlsbad
Buena
San Marcos
Leucadia
Encinitas
UNIT J
MGD
TOTALS
6.34
10.89
4.94
6.33
6.33
3.17
38.00
Percentage
16.67
28.66
13.00
16.67
16.67
8.33
100.00
These construction in progress costs have not been allocated to the various
participants during the period of construction because different units of the
construction are to be allocated differently to each of the participants and
total costs of the respective units will not be known until the project is
completed and final costs are determined.
4.SEWAGE FLOW ALLOCATION:
Sewage flow allocations for the year ended June 30, 1982 are as follows:
Units
*MGD Units D, E, F, G, H I, J and
ADF & Vista Meter Stations Administrative
Vista Sanitation District 3.96
City of Carlsbad 3.31
Buena Sanitation District .59
San Marcos County Water
District 2.75
Leucadia County Water
District 2.55
Encinitas Sanitary District 1 .56
TOTALS 13.72
54.5
45.5
100.0%
*Millions of Gallons per day (MGD) and Average Daily Flow (ADF).
28.9
24.1
4.3
20.0
18.6
4.1
100.0%
See accompanying accountants' report.
-q-
ENCINA WATER POLLUTION CONTROL FACILITY
NOTES TO FINANCIAL SCHEDULES
(Continued)
June 30, 1982
5. PUBLIC EMPLOYEES RETIREMENT SYSTEM:iThe Facility is a participant in the Public Employees Retirement System {,
(PERS) of the State of California covering all the Facility's permanent I
employees. Contributions to the system 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. Pension costs are recorded as expenditures when paid
by monthly contributions to PERS. The total pension expense for the year
ended June 30, 1982 was $ 59,178, of x^hich approximately $ 7,128 was
for prior service costs. Actuarial information related to the plan was not
available from PERS at June 30, 1982. However, at June 30, 1981, the plan
net assets available for benefits totalled $ 173,601, and the present
value of the Facility's and Leucadia County Water District's employees
unfunded obligation for prior service costs totalled $ 239,541, which
amount will be funded through the year 2000 from established contribution
rates. The actuarial present value of vested and non-vested accumulated
plan benefits is not determined under PERS system of accounting. Because
Encina employees are combined with the Leucadia County Water District's
employees under the plan, Encina's portion of the total unfunded retirement
^f benefits is undeterminable at this time.
I
See accompanying accountants' report.
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