HomeMy WebLinkAbout; ; 1982-1983 CAFR; 1983-06-30CITY OF CARLSBAD
Carlsbad, California
Comprehensive Annual Financial Report
June 30, 1983
(with accountants' report thereon)
CITY OF CARLSBAD S-/
Comprehensive Annual Financial Report
Year Ended Oune 30, 1983
TABLE OF CONTENTS
INTRODUCTORY SECTION;
Table of Contents i
Letter of Transmittal 1
Certificate of Conformance 8
List of City Officials 9
Organization Chart 10
FINANCIAL SECTION;
Accountant's Report 14
GENERAL PURPOSE FINANCIAL STATEMENTS;
Combined Balance Sheet - All Fund Types
and Account Groups 15
Combined Statement of Revenues,
Expenditures, and Changes in Fund
Balances - All Governmental Fund Types 17
Combined Statement of Revenues, Expenditures
and Changes in Fund Balance - Budget and
Actual - All Governmental Fund Types 19
Combined Statement of Revenues, Expenses, and
Changes in Retained Earnings - All
Proprietary Fund Types 21
Combined Statement of Changes in Financial
Position - All Proprietary Fund Types 22
Notes to Combined Financial Statements 23
CITY OF CARLSBAD
TABLE OF CONTENTS, Continued
SUPPLEMENTAL DATA:
Governmental Funds:
General Fund:
Schedule of Revenues 41
Schedule of Expenditures 42
Special Revenue Funds:
Combining Balance Sheet 43
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balances 45
Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and
Actual 47
Debt Service Funds:
Combining Balance Sheet 55
Combining Statement of Revenues,
Expenditures, and Changes in
Fund Balances 57
Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and
Actual 59
Capital Projects:
Combining Balance Sheet 63
Combining Statement of Revenues,
Expenditures, and changes in
Fund Balances 65
Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and
Actual 67
ii
CITY OF CARLSBAD
TABLE OF CONTENTS, Continued
Proprietary Funds:
Enterprise Funds:
Combining Balance Sheet 73
Combining Statement of Revenues,
Expenses, and Changes in
Retained Earnings 75
Combining Statement of Changes in
Financial Position 76
Internal Service Funds:
Combining Balance Sheet 77
Combining Statement of Revenues,
Expenses, and Changes in
Retained Earnings 78 ^%
Combining Statement of Changes in
Financial Position 79
Agency Funds:
Combining Statement of Changes in
Assets and Liabilities 80
3
iii
CITY OF CARLSBAD
TABLE OF CONTENTS. Continued
STATISTICAL SECTION;
General Government Expenditures by Function
Last Ten Fiscal Years 83
General Revenues by Source, Last Ten Fiscal Years 85
Ratio General Bonded Debt to Assessed Valuation and
Net Bonded Debt per Capita, Last Ten Fiscal Years 87
Computation of Legal Debt Margin 88
Schedule of Direct and Overlapping Bonded Debt 89
Ratio of Annual Debt Service for General Bonded Debt to
Total General Expenditures, Last Ten Fiscal Years 90
Revenue Bond Coverage, Last Ten Fiscal Years 91
Demographic Statistics 92
Schedule of Assessed Valuation, Last Ten Fiscal Years 93
Construction and Business Activity, Last Ten Fiscal Years 95
Miscellaneous Statistical Information 96
Schedule of Principal Employers 97
IV
1200 ELM AVENUE
CARLSBAD, CALIFORNIA 92008 W*Ui J/M (714)
Citp of Cartebab
FINANCE DEPARTMENT
December 15, 1983
Honorable Mayor, City Council,
and City Manager
CITY OF CARLSBAD
Carlsbad, California
We are pleased to present the 1982-83 Annual Financial Report
of the City of Carlsbad to the City Council and the City Manager.
This report, in compliance with the National Council on
Governmental Accounting (NCGA) statement #3 "Defining the
Governmental Reporting Entity", includes financial statements of
the City, the Housing Authority of the City of Carlsbad, the
Parking and Building Authorities of the City of Carlsbad and the
Carlsbad Redevelopment Agency. This report also includes the
opinion of our certified public accountants, Conrad and
Associates.
In 1981-82 the Finance Department continued its 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. Subsequently, the CSMFO has awarded
Carlsbad the award for outstanding financial reporting for the
City's 1981-82 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 Systea and Budgetary Control
There have been no major changes in the City's basic
accounting system for 1982-83. 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.
The proprietary fund types (the water enterprise, sewer
enterprise and the internal service funds) utilize the accrual
method of accounting. 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 disposition, and to maintain the accuracy of financial
record keeping. These internal controls must be established
consistent with sound management practices based on the
cost/benefit of the controls imposed. The cost of a control
should not be excessive in relation to its benefit as viewed by
City management. The internal controls in 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. The Finance Department's internal auditor has conducted
several reviews of internal controls on cash, fee collections,
payments for services and fixed assets to verify and improve our
existing control procedures.
Budgetary control is maintained through monthly reports on
all revenue and expense accounts as well as special reports
summarizing the financial position of the City. The City Council
has the authority to control the budget through adoption of a
formal budget at the beginning of each year and by ammending the
budget as necessary through the year. Expenditures cannot exceed
budgeted figures. All appropriations expire at year end unless
specifically carried into the new fiscal year by Council action.
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 1982-83, revenue in
all governmental funds totalled $18.3 million. This represents
an increase of about $1.7 million or 10.7% over 1982-83 revenue
as shown below:
City of Carlsbad
Governmental Fund Type
Revenue 1981-82
1982-83 Percent Increase (Decrease)
Revenue Source Amount ($1000) of Total Over 1981-82 ($1000)
Taxes $ 10,733 58.6% $ 962
Licenses & Permits 771 1.2 (25)
Intergovernmental Revenue 2,551 13.9 676
Charges for Service 2,452 13.4 482
Fines & Forfeits 231 1.3 (29)
Interest Income 1,397 7.6 (398)
Miscellaneous Revenue 179 1.0 103
TOTAL REVENUE $ 18,314 100.0% $1,771
Property tax revenue recorded a growth of about $64-7,000 or
17% over 1981-82, in spite of a slow economy during early 1982-
83. Sales tax, however, fell well below expectations and ended
the year only 0.9% above the prior year; an increase of only
$36,000. Interest earnings fell from $1.8 million in 1981-82 to
$1.4 million for all governmental funds due to a decline in
interest rates.
The City received significantly more grant revenue during
1982-83 than in 1981-82 due to the Buena Vista Lagoon dredging
project. The City's total intergovernmental revenue was up by
about $676,000 or about 36%.
Governmental funds also received increased revenues in
charges for services. The 1982-83 revenues of $2.5 million is
about 24-% above the 1981-82 total of $2.0 million. This increase
is primarily due to improved public facility and drainage fees
paid by the development community.
Expenditures from government fund types totaled $15.5 millon
in 1982-83. This is a decrease of about $3.2 million or 17% from
1981-82. These expenditures are distributed as shown below:
City of Carlsbad
Governmental Fund Types
Expenditures 1982-83
1982-83 Percent of Increase (Decrease)
Expenditure Type Amount ($1000) Total Over 1981-82 ($1000)
General Government $ 2,272 14.7%
Public Safety 5,286 34.2
Public Works 2,935 19.0
Culture & Recreation 2,573 16.6
Welfare 727 4.7
Debt Service 437 2.8
Capital Projects 1 ,233 8.0
TOTAL EXPENDITURES $15,463 100.0%
General government expenses decreased by about $580,000 or
20% during 1982-83 primarily due to a change in financial
reporting practices. The City now includes the Parking and
Building Authority Debt payments as part of the debt service
costs rather than general government lease expenditures. In
addition, the costs for insurance administration has been charged
to the self- insurance internal service funds rather than recorded
as a general fund expenditure.o
The public safety activity has shown an increase of almost
$400,000 or 8% over the 1981-82 total of $4.9 million. This is
primarily due to general cost increased across the board
including salaries and fringe benefits.
The change in public works cost is due to two factors.
First, the Engineering Department has implemented a program which
tracks the amount of time City staff spends working on various
capital projects. This time is then used as the basis for
charges to the capital project accounts to recover engineering
costs. This practice reduced the Engineering Department costs by
about $271,000 or 49% between 1981-82 and 1982-83 by charging
Capital Projects for engineering services. The streets program,
on the other hand, has increased its cost of operation by about
$300,000 from $750,000 to about $1 million due to heavy
utilization of raw materials and staff during the past year.
Second, during 1982-83, the City expended over $438,000 in
State grant funds on the Buena Vista Lagoon dredging program.
This project, along with some small Community Development Block
Grant projects ($49,000) increased the public works cost in 1982-
83 by about $483,000. The net increase between 1981-82 and 1982-
83 in public works was about $270,000 or 10.8%.
The final major factor in the City's expenditure picture was
the reduction in capital expenditures from government funds.
During 1982-83, the City spent about $1.2 million on capital
projects. This is about $3.8 million less than the 1981-82 total
of $5 million. The 1981-82 expenditures included about $4
million for land acquisition of Macario Canyon Park and the
Public Safety Center site. The City did not acquire any major
property during 1982-83.
During the next fiscal year, the City should see improvements
in important revenue sources such as sales tax, building permits,
capital fees and other development related sources. The City has
continued its conservative budgeting approach for 1983-84.
Proprietary Funds
For 1982-83, this category includes the water enterprise,
sewer enterprise 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. Total water sales
amounted to about $1.6 million in 1982-83 which was slightly less
than the $1.7 million sold in 1981-82. The water systems revenue
is generated primarily from the sale of metered water to the
City's 7,000 customers. During 1982-83, the water enterprise
delivered about 1.6 billion gallons of water to Carlsbad
residents. A seperate report is available that provides more
detail on the City's water system.
The sewer enterprise provides sewer service for about 14,000
equivalent dwelling units within the City. This customer base
generated about $961,000 during 1982-83 which was sufficient to
cover the City's operating cost of $827,000. The sewer system
treats about 3.0 million gallons per day for the City of
Carlsbad.
The Workers' Compensation and General Liability self-
insurance funds were supported by a combination of user charges
and contributions from the general fund. The Workers'
Compensation self- insurance fund collected about $176,000 in user
charges in 1982-83 and the Liability self- insurance fund
collected about $151,000 during 1982-83. Contributions from the
general fund totalled $50,000 to the Workers' Compensation self-
insurance fund and $250,000 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 1982-83 amounted
to $188,000. Workers' Compensation premiums would have cost the
City about $600,000 if not self- insured.
The General Liability self-insurance fund was established
near the end of fiscal 1980-81. This year represents the second
full year of operation under the liability self-insurance
program. During 1982-83, claims totalling $215,000 were paid out
of this fund. Contributions of $250,000 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 $1.8 million in interest on investments in all fund
types from instruments earning from 9.0% to 15.6%. This
represents a decrease of about 10% under the 1981-82 total of $2
million. Funds are invested in various types of notes and
certificates and are fully insured or collateralized. At Oune
30, 1983, the treasurer had 100% of all available funds
invested.
Bonded Debt
The City's total outstanding general bonded debt as of 3une
30, 1983 was $3,915,000 or about $100 per capita. The City water
revenue bonds outstanding in the amount of $1,027,000. The
following report includes detailed listings of debt service
requirements and other pertinent information on the City's debt
administration activities.
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 wish to express our
appreciation to the staff of Conrad and Associates, the Finance
Department and Central Services for their dedicated efforts. Our
appreciation also goes to both City management and the Council
for their support of the Finance staff and this project.
Respectfully Submitted,
Games F. Elliott
Finance Director
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o
3
00
CALIFORNIA SOCIETY OF MuUciPAL FINANCE OFFICERS
DEDICATED TO THE PROFESSIONAL ADVANCEMENT OF MUNICIPAL FINANCE ADMINISTRATION
Certificate of Award
FOR
OUTSTANDING FINANCIAL REPORTING
PRESENTED TO THE
C/TY Or CA/ZLSBAD
This certificate is issued in recognition of meeting professional standards and criteria in reporting which reflect
a high level of quality in the annual financial statements and in the underlying accounting system from which
the reports were prepared for the fiscal year 19&/
CERTIFIED AND RECORDED:
Secretary-Treasurer
Dale Date
CITY OF CARLSBAD
City Officials
CITY COUNCIL
Mary H. Casler, Mayor
Claude A. Lewis
Robert B. Prescott
Ann 3. Kulchin
Richard 3. 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, 3r., City Attorney
Aletha L. Rautenkranz, City Clerk
William C. Esterline, City Treasurer
Vincent 3imno, Police Chief
3ames Thompson, Fire Chief
David Bradstreet, Parks Director
Clifford Lange, Library Director
Roger Greer, Utilities Director
3erome N. Pieti, Personnel Director
3ames F. Elliott, Finance Director
Ruth Fletcher, Purchasing Officer
Martin Orenyak, Building and Planning
Director
CHAIRPERSONS COMMISSIONS & BOARDS
Clarence "Bud" Schlehuber
Shirley Dahlquist
Sharon Schram
3eff Punches
C. R. Helton
Glenn M. McComas
Planning Commission
Parks & Recreation Commission
Library Board
Traffic Safety Commission
Building Authority
Parking Authority & Personnel Board
CITY OF CARLSBAD
ORGANIZATIONAL CHART
VOTERS
JL
CITY CLERK J [CITY COUNCIL CITY TREASURER j
1 PARKS & REC. COMMISSION I
T PLANNING COMMISSION J—
J LIBRARY BD. OF TRUSTEES }—
\ PARKING AUTHORITY J-J
ACM/ADMINIST
PERSONNEL
PURCHASING
RESEARCH/ANAL^
FINANCE
CENTRAL SERyji;
[ CITY
'SIS
:ES
ACM/DEVELOPMENT
LAND USE PLANNING
ENGINEERING
BUILDING
HOUSINGREDEVELOPMENT
ACM/OPERATIONS
EQUIPMENT MAI1>
BUILDING MAIN!
STREET MAINT.
IT.
I
MANAGER CITY ATTORNEY!~|TRAFFTn SFT^Y COMMISSION
HPERSONNEL BOARD
HOUSING & REDEVELOPMENT
• ADVISORY COMMITTEE
BUILDING AUTHORITY
CE 1
1—" ' 'I PARKS & REC. I
10
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11
o
FINANCIAL SECTION
12
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o
13
O
CONrVvL) CERTIFIED PUBLIC ACCOUNTANTS
FOURTEEN CORPORATE PLAZA DRIVE
NEWPORT BEACH, CAL,FORN,A 92^0
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, 1983 as listed in the Table of
Contents, pages 15 through 39 . 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, 1983 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
after giving retroactive effect to the changes, with which we concur, for the
inclusion of additional component units of the City of Carlsbad in accordance with
Statement 3 of the National Council on Governmental Accounting as described in Note
1 to the financial statements and changes in accounting for revenue sharing
payments susceptible to accrual and fixed assets and related depreciation recorded
within proprietary funds as described in Note 2 to the financial statements.
The accompanying supplemental information in the combining and individual fund
statements and schedules on pages 41 through 81 are not necessary for a fair
presentation in conformity with generally accepted accounting principles of the
financial position, 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 supplemental information has been subjected to the
tests and other auditing procedures applied in the examination of the combined
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 statement or schedules standing alone. However, in our opinion, the
supplemental data are stated fairly in all material respects in relation to the
combined financial statements taken as a whole.
November 23, 1983
14
CITY OF CARLSBAD
Combined Balance Sheet
All Fund Types 4 Account Groups
3une 30, 1983 o
Governmental Fund Types
Assets;
Cash and cash equivalents
(note 4)
Special Debt Capital
General Revenue Service Projects
$ 128,790 4,885,714 1,4*0,051 5,471,452
Receivables:
Taxes 140,097
Accounts 458,592
Accrued Interest 119,426
Due from other funds 70,263
Advances to other funds 374,166
Advances to other govt's.
Inventory, at cost 7,438
Prepaid expenses 93,945
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
Total assets $ 1,392,717
Liabilities:
Accounts payable $
Accrued wages payable
Due to other funds
Advances from other funds
Advances from other governments
Deposits payable
Deferred compensation
payable (note 12)
Prepaid annual contributions
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 $8,638
and current portion - note 6)
Obligations under capital lease
(note 7)
Other payables
193,707
260,209
6,656
228,576
Total liabilities
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
689,148
703.569
703.569
12,291
173,646
60,961
38,817
56,005
403,432
2,806
98,583
12,544
87,199
63,966
668,530
2,417
24,579
365
3,841
4,206
See accompanying notes to combined financial statements
5,068
32,227
5,227,434 1,467,047 5,508,747
53
714
361,622
362,389
4.558.904 1.462.841 5,146.358
4,558.904 1.462.841 5.146.358 O
$ 1,392,717 5,227,434 1,467,047 5,506,747
15
Fiduciary Totals
Proprietary Fund Types
Internal
Enterprise Service
3,*26,872 1,*63,870
*52,199
28,083 7,365
. 112,*02
175,538
556,351
10,703
23,538,8*1 591,*9*
28,300,989 2,062,729
320,929 36,6*3
*,502 *,212
78,719
299,6*3
125,000
893,362
1,*22,512 3*0,*98
21,303,905 1,791,*9*
5, 57*, 572 (69,263)
26.878,*77 1,722,231
Fund Type Account Groups (Memorandum Only)
General General Long- 3une 30,
Agency Fixed Assets Term Debt 1983
1,71*, 608 18,531,357
15*, 805
70 1,11*, 15*
810 2*8,872
109,080
37*, 166
119,8*0
325 ,*88
556,351
10,703
16,562,657 *0, 692, 992
1,*62,8*1 1,*62,8*1
3,*10,533 3,*10,533
1,715,*88 16,562,657 *,873,37* 67,111,182
39,09* 99*, 223
272, **3
109,080
37*, 166
87,199
1,676,39* 1,755,113
228,576
63,966
299,6*3
125,000
3,915,000 3,915,000
893,362
793,623 793,623
16*,751 16*,751
1,715,*88 *,873,37* 10,076,1*5
23,095,399
16,562,657 16,562,657
5,505,309
11,871,672
16,562,657 57,035,037
Oune 30,
1982
12,961,059
105,088
1,122,00*
209,881
3,666,951
12,5**
235,050
110,582
65,538
1,365,595
8,*22
20,857,217
123,2*8
1,915,653
*2, 758, 832
589,395
205,799
3,666,951
317,369
1,318,*89
1*2,723
207,561
1 15 ,000
1,1*5,000
1,017,683
893,901
9,619,871
3,1*8,965
16,393,528
*,289,980
9,306,*88
33,138,961
28,300,989 2,062,729 1,715,*88 16,562,657 *,873,37* 67,111,182 *2,758,832
16
CITY OF CARLSBAD
Combined Statement of Revenues, Expenditures and
Changes in Fund Balance - All Governmental Fund Types
Year ended Oune 30, 1983
Special
General Revenue
Revenues:
Taxes $ 9,677,246 885,581
Licenses and permits 771,240
Intergovernmental revenues 5,743 2,545,519
Charges for services 1,413,075
Fines and forfeits 231,086
Interest income 698,196 371,763
Miscellaneous revenues 179,271
Total revenues 12.975,857 3,802,863
Expenditures:
General government 2,235,802 33,197
Public safety 5,285,609
Public works 1,907,249 1,028,030
Welfare 727,155
Culture and recreation 2,546,455 26,559
Capital projects 724,764
Debt service expenditures
Principal retirement
Interest and fiscal charges
Total expenditures 11,975,115 2,539,705
Excess (deficiency) of revenues
over expenditures 1,000,742 1,263,158
Other financing sources (uses):
Operating transfers in
Operating transfers (out) (778,053)
Total other financing sources (uses) (778,053)
Excess (deficiency) of revenues and
other sources over expenditures
and other uses 222,689 1,263,158
Fund balances at beginning of year as
previously reported 480,880 3,165,120
Prior period adjustment (note 2) 130,626
Fund balances at beginning of year as
adjusted 480,880 3,295,746
Fund balance at end of year $ 703,569 4,558,904
See accompanying notes to combined financial statements
17
Totals
(Memorandum Only)
Debt
Service
113,940
141,843
255,783
3,175
185,000
252,147
440,322
(184,539)
462,500
462,500
277,961
1,184,880
1,184,880
1,462,841
Capital
Projects
56,020
1,038,633
185,094
1,279,747
508,284
508,284
771,463
52,070
52,070
823,533
4,322,825
4,322,825
5,146,358
Oune 30,
1983
10,732,787
771 ,240
2,551,262
2,451,708
231,086
1,396,896
179,271
18,314,250
2,272,174
5,285,609
2,935,279
727,155
2,573,014
1,233,048
185,000
252,147
15,463,426
2,850,824
514,570
(778,053)
(263,483)
2,587,341
9,153,705
130,626
9,284,331
11,871,672
June 30,
1982
9,771,176
796,139
1,875,243
1,969,880
260,498
1,794,676
75,963
16,543,575
2,852,858
4,888,849
2,501,925
650,202
2,303,143
4,996,323
170,000
259,822
18,623,122
(2,079,547)
3,280,605
(3,054,313)
226,292
(1,853,255)
11,377,346
(370,386)
11,006,960
9,153,705
18
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget 4 Actual
Ml Governmental Fund Types
Year ended Oune 30, 1933
General Fund Special Revenue Funds
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(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 (note 2)
Fund balances at beginning of year
as adjusted
Fund balance (deficit) at end of year
See accompanying notes to combined financial statements
s
!S)
S
Budget
9,733,000
902,000
23,000
1,329,930
230,000
340,000
58,000
13,165,930
2,7*8,81*4
5,440,621
2,221,479
2,603,217
13,014,161
151,769
(778,053)
(778,053)
(626,284)
480,880
480,830
(145,404)
Actual
9,677,246
771,240
5,743
1,413,075
231,086
698,196
179,271
12,975,857
2,235,802
5,235,609
1,907,249
2,546,455
11,975,115
1,000,742
(778,053)
(778,053)
222,689
430,880
480,880
703,569
Variance
favorable
(unfavorable)
(55,754)
(130,760)
(17,257)
83,145
(48,914)
(141,304)
121,271
(190,073)
513,042
155,012
314,230
56,762
1,039,046
348,973
843,973
343,973
Budget
814,400
2,006,273
140,000
2,960,673
45,100
3,722,031
943,510
1,200
3,025,018
7,736,859
(4,776,186)
3,165,120
130,626
3,295,746
(1,480,440)
Actual
885,581
2,545,519
371,763
3,802,863
33,197
1,023,030-
727,155
26,559
724,764
2,539,705
1,263,158
3,165,120
130,626
3,295,746
4,553,904
Variance
favorable
(unfavorable)
71,181
539,246
231,763
842,190
11,903
2,694,001
216,355
(25,359)
2,300,254
5,197,154
6,039,344
6,039,344
19
Debt Service Funds
Budget
120,000
131,951*
Actual
113,9*0
233,793
3,175
Variance
favorable
(unfavorable)
(6,060)
9,999
Capital Project Funds
3,939
Budget Actual
56,020
1,1*0,000 1,038,633
100,000 185,094
1,240,000 1,279,747
Variance
favorable
(unfavorable)
56,020
(101,367)
95,094
39,747
4,920,052 508,294 4,411,768
195,000
243,490
431,665
185,000
252,147
440,322
(179,811) (164,539)(4,728)
4,920,052 508,234 4,411,768
(3,680,052) 771,463 4,451,515
462,500
462,500
282,669
1,184,990
1,194,880
1,467,569
462,500
462,500
277,961
1,184,580
52,070
(4,728)
(4,728)
52,070
4,322,625
694,843
(3,627,982) 823,533
4,322,825 4,322,825
4,451,515
4,451,515
20
CITY OF CARLSBAD
Combined Statement of Revenues, Expenses, and
Changes in Retained Earnings - All Proprietary Fund Types
Year ended Oune 30, 1983
Totals
(Memorandum Only)
Operating revenues:
Metered water sales
Sewer service charges
Major facility fees
Other charges for services
Reimbursed expenditures
Total operating revenue
Operating expenses:
Personal services
Office expenses
Repairs and maintenance
Professional services
Transportation
Insurance
Purchased water
Depreciation and amortization
Fuel
Supplies and parts
Claims expense
Other operating charges
Total operating expenses
Operating income (loss)
Non-operating revenues (expenses):
Interest income
Interest expense and fiscal
agent fees
Contribution & donations from
private sources
Sale of property
Total non-operating
revenues (expenses)
Net income (loss) before
operating transfers
Operating transfers in (out)
Net income (loss)
Retained earnings (deficit) at
beginning of year
Retained earnings (deficit) at
end of year (note 11)
Enterprise
$ 1,606,202
961,217
657,370
88,826
3,313,615
752,608
20,178
273,338
537,524
730
102,322
926,347
159,396
2,772,443
541,172
306,198
(64,492)
241,706
782,878
782,878
4,791,694
$ 5^574,572
Internal
Service
526,680
326,906
853,586
161,625
560
54,804
198,094
84,820
402,854
2,973
905,730
(52,144)
98,793
5,764
104,557
52,413
15,553
67,966
(137,229)
(69,263)
Oune 30,
1983
1,606,202
961,217
657,370
615,506
326,906
4,167,201
914,233
20,738
328,142
537,524
730
102,322
926,347
159,396
198,094
84,820
402,854
2,973
3,678,173
489,028
404,991
(64,492)
5,764
346,263
835,291
15j553
850,844
4,654,465
5t505t309
Oune 30,
1982
1,679,299
229,313
6,700
1,915,312
361,552
24,670
100,056
152,333
3,067
18,004
814,410
146,427
308,765
1,929,284
(13,972)
359,898
(69,715)
78,303
368,486
354,514
354,514
3,935,466
4t289,980
See accompanying notes to combined financial statements
21
CITY OF CARLSBAD
Combined Statement of Changes in Financial Position
All Proprietary Fund Types
Year ended Oune 30, 1983
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
crease in long-term revenue bonds payable
decrease (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
See accompanying notes to combined financial statements
Enterprise
782,878
159,396
942,274
174,115
1,116,389
(355,324)
(115,000)
809,244
338,920
$ 1,455,309
1,500,110
(10,961)
12,117
6,970
170,221
(221,985)
7,782
(8,945)
1,455,309
Internal
Service
92,276
92,276
891,494
983,770
(24,310)
(591,494)
(615,804)
367^966
484,374
3,142
(35,653)
(4,212)
(92,082)
12,397
367,966
Oune 30,
1983
875,154
159,396
1,034,550
1,065,609
2,100,159
(24,310)
(946,818)
(115,000)
809 ,244
(276,884)
1,823^275
1,984,484
(10,961)
15,259
6,970
170,221
(257,638)
3,570
(92,082)
12,397
(8,945)
1^823,275
Oune 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
(16,116)
I 13,578
9,118
(11)
(698)
(2,482)
(109,846)
23,231
(8,353)
734,229
22
CITY OF CARLSBAD
Notes to Combined Financial Statements
3une 30, 1983
(1) Summary of Significant Accounting Policies
The accounting policies of the City of Carlsbad, California conform to
generally accepted accounting principles for governmental units. The
following is a summary of the more significant policies:
(a) Description of the Reporting Entity
The financial statements of the City of Carlsbad include the financial
activities of the City, the Housing Authority of the City of Carlsbad,
the Parking and Building Authorities of the City of Carlsbad and the
Carlsbad Redevelopment Agency. Their financial operations are closely
related and the City Council has a continuing oversight responsibility
over the entities. The oversight responsibility is determined on the
basis of budget adoption, taxing authority, funding and appointment of
the governing board.
This is the first year that the financial statements of the City of
Carlsbad include the financial activities of the Parking Authority of
the City of Carlsbad, the Building Authority of the City of Carlsbad
and the Carlsbad Redevelopment Agency. The change in the reporting
enitity was made to conform with Statement 3, "Defining the
Governmental Reporting Entity," issued by the National Council on
Governmental Accounting. The combined financial information for the
year ended Oune 30, 1982, presented for comparative purposes only, has
been compiled to conform with the current year presentation. The
effect of the change on the combined balance sheet - all fund types
and account groups, and the combined statement of revenues,
expenditures, and changes in fund balances - all governmental fund
types for the prior year as follows:
Special Revenue Funds Fund Type
As previously
Reported * Change Restated
Cash $ 3,103,913 (188,931) 2,914,982
Fund Balance
Beginning of year $ 2,441,620 (152.719) 2,288,901
End of year $ 3,376,822 (211,702) 3,165,120
Revenues 3,434,632 (619,492) 2,815,140
Expenditures (2,499,430) 560,509 (1,938,921)
Excess of revenues over
expenditures $ 935,202 (58,983) 876,219
23
Debt Service Funds Fund Type
Cash
Fund Balance
Beginning of year
End of year
Revenues
Expenditures
Operating transfers in
Excess of revenues over
expenditures
Capital Projects Funds Fund Type
As previously
Reported __*_
? 118,467
.033
Change
1,020,862
955,333
As previously
Reported *Change
Restated
1.139,329
1,097,366
i 123,248
127,375
(146,160)
-0-
; (18,785)
1,061,632
167,468
(287,461)
226,292
106^299
1J84t880
294,843
(433,621)
226,292
87,514
Restated
$
$
$
$
2^090,640
5,375,834
4^710^659
1,589,521
(5,309,009)
3,054,313
(665,175)
(137,283)
(236,646)
(235,051)
(152,783)
(893,074)
741,886
-0-
(151,188)
1,953,357
5J39J88
4,322,825
696,447
(4,567,123)
3,054,313
(816,363)
Cash
Fund Balance
Beginning of year
End of year
Revenues
Expenditures
Operating transfers in
Excess of revenues over
expenditures
* Reflects accounting changes as described in Note (2).
(b) Fund Accounting
The accounts of the City are organized on the basis of funds or
account groups, each of which is considered to be a separate
accounting entity. The 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:
24
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
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
fund. From the fund are paid the general operating expenses and
capital improvement costs which are not paid through other funds.
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).
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.
25
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
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.
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-Term 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.
(c) Measurement Focus and Basis of Accounting
The proprietary (enterprise and internal service) fund types are
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
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.
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.
26
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
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.
The accrual basis of accounting is followed by the proprietary funds.
(d) Cash Equivalents
Cash equivalents are stated at cost, which approximates market.
(e) Inventories
Inventories within the various fund types consist of materials and
supplies which are valued at average cost.
(f) Property, Plant and Equipment - Enterprise Fund
Property, plant and equipment of the enterprise fund is 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
straightline method.
(g) Vacation and Sick Leave
The City records the cost of vacation and sick leave pay when paid.
At June 30, 1983 earned and unused vacation and sick leave amounted
to approximately $1,656,628.
(h) Budgetary Data
The City adopts an annual budget prepared on the modified accrual
basis consistent with generally accepted accounting principles for
governmental funds.
(i) 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.
(j) 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.
27
CITY OF CARLSBAD
Notes to Combined Financial Statement, Continued
(k) 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.
(1) Fixed Assets - Proprietary Funds
Fixed assets owned by proprietary funds are capitalized at historical
cost. Depreciation is charged to operations using a straight-line
method based on the estimated useful life of the asset. The estimated
useful lives of the assets are as follows:
Buildings 10-25 years
Structures and improvements 50 years
Sewer, sewer lines and wells 4-0 years
Equipment 4-10 years
Wells, reservoirs and dams 10-100 years
Transmission and distribution lines 40-70 years
Filters and pump 10-50 years
Fire hydrants 50 years
(m) Unbilled Service Receivables
Unbilled service receivables in the governmental funds are
insignificant and revenues are recorded on a cash basis. Unbilled
service receivables in proprietary funds are reflected in accounts
receivables at year end with a corresponding increase in revenues.
(2) Accounting Changes
Effective 3uly 1, 1982, the City changed its method of accounting for its
central garage activities from the general fund to an internal service
fund. Also, the City changed its method of accounting for its sewer
enterprise activities from special revenue and capital project funds to an
enterprise fund. These changes had no effect on the respective beginning
fund balances at 3uly 1, 1982.
Effective Duly 1, 1982, the City changed it method of accounting for
Revenue Sharing receivables in the special revenue funds, which were not
properly accrued in the financial statements for the year ended Oune 30,
1982. The cumulative effect of this change at Ouly 1, 1982 was to
increase fund balance by $130,626.
The aforementioned changes were made to conform to the bases of accounting
as promulgated by Statement 1 of the National Council of Government
Accounting.
28
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(3) Segment Information for Enterprise Funds
The City maintains two Enterprise Funds which provide water and sewer
services. Segment information for the year ended 3une 30, 1983 was as
follows:
Water
Fund
Operating revenues
Depreciation and amortization
expenses
Operating income or (loss)
Net income or (loss)
Current capital:
Contributions
Property, plant and equipment:
Additions
Deletions
Net working capital
Bonds and other long-term
liabilities:
Payable from operating revenues
Total Equity
$ 1,667,501
2,423,080
199,351
2,167
732,883
893,362
6,774,531
Sewer
Fund
Total
Enterprise
Funds
1,646,114 3,313,615
139,633
(278,180)
(75,758)
19,763
819,352
858,636
159,396
541,172
782,878
18,880,825 21,303,905
155,973
722,426 1,455,309
355,324
2,167
893,362
20,103,946 26,878,477
(4) Cash and Cash Equivalents
A summary of cash and cash equivalents as of 3une 30, 1983 follows:
Interest Rates Cost
Cash
Certificates of Deposit
Miscellaneous Investments
Banker's Acceptance Notes
Federal Agency Notes
Repurchase Agreements
9.13
9.00
12.50
12.50
10.25
15.63%
13.00%
14.00%
14.25%
15.63%
$ (347,197)
8,250,000
6,214,478
3,100,000
1,000,000
314,076
$18,531,357
29
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(5) Fixed Assets
A summary of changes in general fixed assets follows:
Deletions
Transfer To
Balance Internal Sewer Other Balance
July 1, 1982 Additions Service Fund Ent. Fund Deductions June 30, 1983
$ 5,567,333
2,962,547
61,122
279,220
Land
Buildings
Other
Improvements 5,093,642 1,155,634
Furniture and
Equipment 2,770,006 242,269 1,291,492
TOTAL $ 16,393,528 1,738,245 1,291,492
154,973
154,973
122,651
122,651
5,628,455
3,241,767
6,249,276
1,443,159
16,562,657
A summary of enterprise property, plant and equipment at dune 30, 1983
follows:
Land, water rights and
rights of way
Buildings
Structures and improvements
Wells, reservoirs and dams
Transmission and distri-
bution lines
Sewer, sewer lines and wells
Purification, pumps and
booster stations
Fire hydrants
Equipment and vehicles
Fire protection services
Construction in progress
Less Accumulated Depreciation
Total
Water
Fund
231,956
37 ,964
1,289,853
4,022,304
147,349
364,969
266,794
5,759
72,195
6,439,143
(1,917,338)
Sewer
Fund
2,120,747
6,001,567
1,170,846
11,147,970
20,441,130
(1,424,094)
Total
Enterprise
Funds
231,956
37 ,964
2,120,747
1,289,853
4,022,304
6,001,567
147,349
364,969
1,437,640
5,759
11t220,165
26,880,273
(3,341,432)
4,521,805 19,017,036 23,538,841
30
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued o
(6)Long-Term Debt
A summary of Revenue Bonds Payable - Proprietary (Water Enterprise)
Fund is as follows:
Balance
June 30. 1983
1958 Waterworks Revenue Bonds, principal due in amounts
ranging from $35,000 to 47,000 on Duly 1 of each year
through 1988 (Interest is payable on Danuary 1 and 3uly 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 duly 1 of each year
through 1990 (Interest is payable on January 1 and Duly 1
at each year at varying rates from 4.25% to 3.875%)
1970 Waterworks Revenue Bonds, principal due in amounts
ranging from $55,000 to $100,000 on Duly 1 of each year
through 1990 (Interest is payable on January 1 and Duly 1
at each year at varying rates from 6.% to 6.9%)
Total revenue bonds payable
Less unamortized discount
Less current portion
Total
$ 217,000
185,000
625,000
1,027,000
(8,638)
(125,000)
$ 893,362
A summary of changes in general long-term debt (secured by the City's Debt
Service Fund type) of the City is as follows:
Balance Balance
Duly 1, 1982 Additions Payment June 30, 1983
1962 Series A General Obli-
gation Sewer Bonds,
principal due in amounts
ranging from $30,000 to
$50,000 on Duly 1 of each
year through 1988 (Interest
is payable on January 1 and
Duly 1 at 3.5% per annum) $ 250,000 -0-40,000 210,000
1962 Series B General Obli-
gation Sewer Bonds,
principal due in amounts
ranging from $40,000 to
$100,000 on Duly 1 of each
year through 1991 (Interest
is payable on Danuary 1 and
Duly 1 at rates varying from
3.5% to 3.6%)520,000 -0-40,000 480,000
31
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
A summary of changes in general long-term debt of the City is continued as
follows: 01 r, ,Balance Balance
July 1, 1982 Additions Payment June 30, 1983
1962 Series C General Obli-
gation Sewer Bonds,
principal due in amounts
ranging from $15,000 to
$25,000 on Ouly 1 of each
year through 1991 (Interest
is payable on January 1 and
duly 1 at rates varying from
3.6% to 3.75%) $205,000 -0- 20,000 185,000
1966 Library General Obligation
Bonds, principal due in
amounts ranging from $10,000
to $25,000 on duly 1 of
each year through 1992
(Interest is payable on
January 1 and Duly 1 at
4.5% per annum) 170,000 -0- 15,000 155,000
1967 Carlsbad Building Authority
Revenue Bonds, Principal due
in amounts ranging from
$20,000 to $35,000 on December 15
of each year through 1993
(Interest is payable on
December 15 at 5.25% per
annum) 280,000 -0- 20,000 260,000
1969 Carlsbad Parking Authority
Revenue Bonds, principal due
in amounts ranging from
$50,000 to $125,000 on October
1 of each year through 1996
(Interest is payable on
October 1 and April 1 at rates
varying from 6.0% to 6.4%) 1,175,000 -0- 50,000 1,125,000
1981 Carlsbad Parking Authority
Revenue Bonds, principal due
in amounts ranging from
$30,000 to $150,000 on
February 1 of each year
through 2001 (Interest is
payable on August 1 and
February 1 at 8% per annum) 1,500,000 -0- -0- 1,500,000
Total $ 4,100,000 -0- 185,000 3,915,000
32
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued 3
Debt Service requirements to maturity:
Scheduie of 1962 General Obligation
Sewer Bonds, Series A, Debt Service to Maturity
TOTAL
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
TOTAL
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
TOTAL
Interest
Due July 1
$ 3,675
2,975
2,275
1,575
875
$ 11,375
Sewer
Interest
Due July 1
$ 8,580
7,880
7,180
6,480
5,760
5,040
3,420
1,800
$ 46,140
Sewer
Interest
Due Duly 1
$ 3,437
3,078
2,707
2,338
1,875
1,406
937
469
$ 16,247
Interest
Due January 1
2,975
2,275
1,575
875
-0-
7,700
Schedule of 1962
Bonds, Series B,
Interest
Due January 1
7,880
7,180
6,480
5,760
5,040
3,420
1,800
-0-
37,560
Schedule of 1962
Bonds, Series C,
Interest
Due January 1
3,078
2,707
2,338
1,875
1,406
938
469
-0-
12,811
Total
Interest
6,650
5,250
3,850
2,450
875
19,075
Principal
Due July 1
40,000
40,000
40,000
40,000
50,000
210,000
General Obligation
Debt Service
Total
Interest
16,460
15,060
13,660
12,240
10,800
8,460
5,220
1,800
83,700
to Maturity
Principal
Due July 1
40,000
40,000
40,000
40,000
40,000
90,000
90,000
100,000
480,000
General Obligation
Debt Service
Total
Interest
6,515
5,785
5,045
4,213
3,281
2,344
1,406
469
29,058
to Maturity
Principal
Due July 1
20,000
20,000
20,000
25 ,000
25 ,000
25 ,000
25 ,000
25,000
185,000
229,075
Total Annual
Debt Service
56,460
55,060
53,660
52,240
50,800
98,460
95,220
101,800
563,700
Total Annual
Debt Service
26,515
25,785
25,045
29,213
28,281
27,344
26,406
25,469
214,058
33
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
TOTAL
Fiscal
Year
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
1991-92
1992-93
TOTAL
Schedule of 1966 General Obligation
Library Bond, Debt Service to Maturity
Fiscal
Year
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
1991-92
Interest
Due Ouly 1
$ 3,488
3,150
2,812
2,475
2,138
1,800
1,462
1,013
562
Interest
Due January 1
3,488
3,150
2,812
2,475
2,138
1,800
1,462
1,013
562
Total
Interest
6,976
6,300
5,624
4,950
4,276
3,600
2,924
2,026
1,124
Principal
Due 3uly 1
15,000
15,000
15,000
15,000
15,000
15,000
20,000
20,000
25,000
Total Annual
Debt Service
21,976
21,300
20,624
19,950
19,276
18,600
22,924
22,026
26,124
$ 18,900 18,900 155,000 192,800
Schedule of 1967 Revenue Bonds
Carlsbad Building Authority, Debt Service to Maturity
Interest Due
December 15
$ 13,650
12,600
11,550
10,237
8,925
7,612
6,300
4,987
3,412
1,837
$ 81,110
Principal Due
December 15
20,000
20,000
25,000
25,000
25,000
25,000
25,000
30,000
30,000
35,000
260,000
Total Annual
Debt Service
33,650
32,600
36,550
35,237
33,925
32,612
31,300
34,987
33,412
36,837
341,110
34
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued o
Schedule of 1969 Revenue Bonds
Carlsbad Parking Authority, Debt Service to Maturity
Fiscal
Year
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
Fiscal
Year
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
Total
Interest
$ 140,050
136,925
130,675
121,225
111,775
102,250
92,725
83,200
70,400
57,600
44,800
32,000
16,000
$ 1,139,525
Carlsbad I
Total
Interest
$ 120,000
117,600
114,400
110,400
106,400
101,600
96,800
92,000
86,000
80,000
74,000
66,000
58 ,000
50,000
42,000
32,000
22,000
$ 12,000
1,381,200
Principal
Due October 1
50,000
50,000
75,000
75,000
75,000
75,000
75,000
100,000
100,000
100,000
100,000
125,000
125.000
1,125,000
Total Annual
Debt Service
190,050
186,925
205,675
196,225
186,775
177,250
167,725
183,200
170,400
157,600144,800
157,000
141,000
2,264,625
Schedule of 1981 Revenue Bonds
Carlsbad Parking Authority, Debt Service to Maturity O
Principal
Due February 1
30,000
40,000
50,000
50,000
60,000
60,000
60,000
75,000
75,000
75,000
100,000
100,000
100,000
100,000
125,000
125,000
125,000
150.000
1,500,000
Total Annual
Debt Service
150,000
157,600
164,400
160,400
166,400
161,600
156,800
167,000
161,000
155,000
174,000
166,000
158,000
150,000
167,000
157,000
147,000
162,000
2,881,200
D
35
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(7) Obligations Under Capital Leases
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 $700,04-0 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.
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
1984 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 payments of principal and
interest at 10% per annum of $31,176 per year through February 1987. The
lease agreement for word processing equipment requires payments of
principal and interest at 10% of $18,564 per year through March 1986.
The following is a summary by years of future minimum lease payments under
capital leases (paid from the general fund) with the present value of
minimum lease payments at June 30, 1983:
Year Ending June 30 Total Lease Payments
1984 $ 172,453
1985 155,738
1986 154,191
1987 126,784
1988 106,000
1989 - 2007 894,040
Total minimum lease payments 1,609,206
Less amount representing interest 815,583
Present value of minimum lease payments $ 793,623
36
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(8) Rentals Under Operating Leases
The following is a schedule by years of minimum future rentals for the
City's operating leases at June 30, 1983.
Year Ending June 30 Amount
1984 $ 312,400
1985 312,400
1986 312,400
1987 312,400
1988 312,400
1989 - 2001 3,158,286
$4,720,286
Rental expense charged to general fund expenditures in 1983 was $46,951.
(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 $1,140,660
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
assumptions, such as length of employment, estimated salary rates,
mortality rates, projected retirement benefits and other factors. At 3une
30, 1982, the plan net assets available for benefits totaled $8,556,150 and
the present value of the City's unfunded obligation for prior service costs
totaled $23,653 which will be funded through the year 2000 from
established contribution rates. The excess, if any, of the actuarially
computed value of vested benefits to City employees over amounts available
in the PERS pension fund is not determinable under the PERS system of
accounting.
(10) Excess of Expenditures over Appropriations
Expenditures exceeded appropriations in the following funds:
Excess of Expenditures
Expenditures Appropriations Over Appropriations
Special Revenue Funds:
Federal Grants $ 4,314 -0- 4,314
Debt Service Funds:
Sewer Bonds $135,320 126,490 8,830
37
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(11) Fund Balances/Retained Earnings
The following is a summary of reserved and unreserved fund balances and
retained earnings:
Tot al s
Governmental Fund Types (Memorandum Only)
Special Debt Capital Oune 30, Oune 30,
General Revenue Service Projects 1983 1982
Fund balances:
Reserved for prepaid
expnenses $ 93,945 93,945
Reserved for encumbrance 159,845 483,414 139,854 783,113 383,768
Reserved for inventory
supplies 7,438 7,438 5,150
Reserved for advances to
other funds 12,544 12,544 12,544
Reserved for low and
moderate income housing 14,005 14,005
Reserved for debt service 956,422 956,422 123,248
Reserved for payment of
principal and interest 501,919 501,919
Reserved for working capital 4,500 4,500
Reserved for advances to
Carlsbad Redevelopment
Agency 361,622 361,622 235,050
Reserved for repayment
of advances 56,020 56,020
Unreserved:
Designated for approved
capital projects 4,440,155 3,739,586 8,179,741 4,906,569
Undesignated 68,175 (449,361) 1,210,898 829,712 3,025,280
HUD Equities 70,691 70,691
Total Fund Balances $ 703,569 4,558,904 1,462,841 5,146,358 11,871,672 8,691.609
Totals
Proprietary Fund Types (Memorandum only)
Internal 3une 30, June 30,
Enterprise Service 1983 1982
Retained Earnings:
Reserved for continuing
appropriations $ 474,080
Reserved for construction 678,590 678,590 527,161
Reserved for debt service 887,441 887,441 883,998
Unreserved 3,183,328 (69,263) 3,114,065 2,504,741
Designated for approved
capital projects 825,213 825,213
Total Retained Earnings $ 5,574,572 (69,263) 5,505.309 4,389,980
38
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
The following funds reported deficits in their respective fund balances
at Dune 30, 1983:
Amount of Deficit
to Fund Balance
Redevelopment project (capital project fund) $305,602
General liability self-insurance (internal
service fund) 149,833
(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 in a combination of deferred
compensation options including short-term certificates of deposit, bond
funds, stock funds, and government securities. At Dune 30, 1983, the
amount of the deferred compensation investments (and the resultant
liability recorded in the General Fund) was $228,576. 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 management and legal counsel, any
liability resulting from these actions will not result in a material
adverse effect on the City's financial position.
o
39
SUPPLEMENTAL DATA
40
CITY OF CARLSBAD
General Fund
Schedule of Revenues
Year ended Oune 30, 1983
Taxes:
Property taxes
Sales and use taxes
Transient lodging taxes
Franchise taxes
Real property transfer taxes
Cigarette taxes
Trailer coach in-lieu tax
Total taxes
Licenses and permits:
Vehicle licenses (in-lieu)
Construction permits
Business licenses
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 and parks & rec 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
$ 4,118,0004,200,000
755,000
350,000
100,000
170,000
40,000
9,733,000
195,000
400,000
307,000
902,000
23,000
23,000
75,000
20,000
345,000
200,000
235,930
55,000
384,000
15,000
1,329,930
280,000
280,000
840,000
20,000
5,000
8,000
25,000
58,000
$13,165,930
Actual
4,279,236
3,974,732
797,526
358,228
121,428
116,643
29,453
9,677,246
559
490,100
279,973
608
771,240
5,743
5,743
79,934
24,038
400,228
126,757
267,991
43,364
442,808
27,955
1,413.075
230,432
654
231,086
698,196
112,469
26,689
31,199
8,914
179.271
12,975,857
Variance
Favorable
(Unfavorable)
161,236
(225,268)
42,526
8,228
21,428
(53,357)
(10,547)
(55,754)
(194,441)
90,100
(27,027)
608
(130,760)
(17,257)
(17.257)
4,934
4,038
55,228
(73,243)
32,061
(11,636)
58,808
12,955
83.145
(49,568)
654
(48,914)
(141.804)
92,469
21,689
23,199
(16.086)
121.271
(190,073)
41
CITY OF CARLSBAD
General Fund
Schedule of Expenditures
Year ended June 30, 1983
Budget
General government:
City Council
City Manager
City Clerk
Research/Analysis Group
City Attorney
Finance
• City Treasurer
Central Services
Purchasing
Personnel
Planning
Community promotion
Senior Citizens programs
Community Assistance
Weed abatement
Contingencies
Capital improvements
Building maintenance
Other
Total general government
Public safety:
Fire protection
Police Protection
Building inspection
Civil Defense
Total public safety
Public works:
Administration
Engineering
Streets
Mechanical maintenance
Waste collection
Maintenance
Building Maintenance - Admin.
Total public works
Culture and recreation:
Parks and recreation
Library
Total culture and recreation
Total Expenditures
"See accompanying accountants' report
Actual
Variance
Favorable
(Unfavorable)
$ 72,493
207 ,026
30,850
244,164
160,011
241,636
4,195
363,645
62,186
176,856
383,491
45,045
37,825
14,000
22,789
293,741
60,860
194,051
133,980
2,748,844
2,103,461
2,831,156
494,174
11,830
5,440,621
43,879
419,463
1,261,610
392,515
79,604
24,408
2,221,479
1,571,275
1,031,942
2,603,217
$ 13,014,161
70,998
191,131
28,620
211,607
152,336
210,401
4,041
347,829
56,729
174,422
378,975
46,654
37,825
14,353
8,277
57,898
191,707
51,999
2,235,802
2,039,151
2,753,072
479,210
14,176
5,285,609
39,569
282,133
1,054,864
1,656
450,707
58,638
19,682
1,907,249
1,556,417
990,038
2,546,455
11,975,115
1,495
15,895
2,230
32,557
7,675
31,235
154
15,816
5,457
2,434
4,516
(1,609)
(353)
14,512
293,741
2,962
2,344
81,981
513,042
64,310
78,084
14,964
(2,346)
155,012
4,310
137,330
206,746
(1,656)
(58,192)
20,966
4,726
314,230
14,858
41,904
56,762
1,039,046
42
CITY OF CARLSBAD
Special Revenue Funds
Combining Balance Sheet
Oune 30, 1983
Federal State Street
Gas Tax Grants Grants Lighting
Assets
Cash and cash equivalents $1,230,632 718 1,359,411 260,270
Receivables:
Taxes 12,291
Accounts 36,480 6,999 7,201
Accrued interest 19,315 21,092 2,733
Due from other funds 32,161
Prepaid expenses
Total assets $1,286,427 718 1,419,663 282,495
Liabilities and Fund Balances
Liabilities:
Accounts payable 282,971 26,222
Accrued wages payable 1,244
Advance from General Fund
Due to other funds
Advances from other funds 12,544
Advances from other
governments
Prepaid annual
contributions
Total liabilities 282,971 40,010
Fund balances:
Reserved for
encumbrances 39,255 375,043
Reserved for Low and
Moderate income housing
Unreserved:
Designated for approved
capital projects 459,197 1,768,334
Undesignated 787,975 718 (1,006,685) 242,485
HUD fund equities
Total fund
balances 1,286,427 718 1,136,692 242,485
Total liabilities
and fund balances $1,286,427 718 1,419,663 282,495
See accompanying accountants' report
43
1
1
1
1
1
Revenue
Sharing
,839,163
122,954
17,821
,979_,938
7,804
32,161
39,965
14,040
,878,512
47,421
,939,973
,979,938
Section 8
Housing
Authority
181,515
12
6,656
56,005
244J88
2,860
18,712
87,199
63,966
172,737
760
70,691
71,451
244,188
Community
Development
Block Grant
83,575
1,562
47,710
132,847
54,316
334,112
(521,275)
(132,847)
-0-
Low and
Moderate Totals
Income Dune 30,
Housing 1983
14,005 4,885,714
12,291
173,646
60,961
38,817
56,005
14,005 5,227,434
403,432
2,806
98,583
12,544
87,199
63,966
668,530
483,414
14,005 14,005
4,440,155
(449,361)
70,691
14,005 4,558,904
14,005 5,227,434
Oune 30,
1982
2,914,982
10,491
156,171
38,802
155,456
1^275,902
62,831
3,246
12,544
32,161
110,782
118,535
1,131,783
1,914,802
3,165,120
3,275,902
44
CITY OF CARLSBAD
Special Revenue Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance
Year ended Dune 30, 1983
Gas Tax
Revenues:
Taxes $ 406,456
Intergovernmental
Interest income 87,064
Total revenues 493,320
Expenditures:
General government
Public works 48,348
Culture and recreation
Capital projects
Welfare
Total-expenditures 48,348
Excess (deficiency)
of revenues over
expenditures 445,172
Fund balance at beginning
of year as previously
reported 841,255
Prior period adjustment
Fund balance at beginning
of year as adjusted 841,255
Fund balance at end year $ 1,286,427
Federal
Grants
3,014
38
3,052
4,250
64
4,314
(1,262)
1,980
1,980
State
Grants
1,291,186
93,787
1,384,973
33,197
496,623
20,248
550,068
834,905
301,787
301,787
718 1,136,692
Street
Lighting
465,120
17,517
482,637
438,433
438,433
44,204
198,281
198,281
242,485
See accompanying accountants' report
45
Revenue
Sharing
Section 8
Housing
Authority
Community
Development
Block Grant
Low and
Moderate
Income
Housing
Totals
Dune 30,
1983
June 30,
1982
374,229
132,060
506,289
553,855
31,728
585,583
323,235
9,569
332,804
14,005 885,581
2,545,519
371.763
14,005 3,802,863
755,895
1,779,611
279,634
2,815.140
2,061
219,506
221,567
727,091
727.091
44,626
505,258
549,884
33,197
1,028,030
26,559
724,764
727,155
2,539,705
172,507
687,012
429,200
650,202
1,938,921
284,722 (141,508)(217,080)14.005 1.263,158 876,219
1,524,625
130,626
1,655,251
1,939,973
212,959
212,959
71,451
84,233
84,233
(132,847)
3,165,120
130,626
3.295,746
14,005 4.558.904
2,347,550
(58.649)
2,288.901
3,165,120
46
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended Oune 30, 1983
Revenues:
Taxes
Intergovernmental revenues
Charges for services
Interest income
Total Revenues
Expenditures:
Public Works
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balance at end of year
Budget
561.801
561,801
(140,401)
841,255
$ 700,854
Gas Tax Fund
Actual
$391,400
30,000
421 ,400
406,456
87,064
493,520
48,348
48,348
445,172
841,255
1,286,427
Variance-
favorable
(unfavorable)
15,056
57,064
72,120
513,453
513,453
585,573
585,573
See accompanying accountants' report
47
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended 3une 30, 1983
Federal Grants
Revenues:
Intergovernmental revenues
Interest income
Total Revenues
Expenditures:
Culture and recreation
Capital projects
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balance -at end of year
Budget
$ 1,980
$ 1,980
Actual
3,OH
38
3,052
4,250
64
(1,262)
1,980
Variance -
favorable
(unfavorable)
3,014
38
718
3,052
(4,250)
(64)
(4,314)
(1,262)
(1,262)
See 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 3une 30, 1983
State Grants
Revenues:
Intergovernmental revenues $
Interest income
Total Revenues
Expenditures:
General government $
Public Works
Culture and recreation
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balance (deficit) at end of year $
Budget
45,100
2,644,180
2,689,280
(2,689,280)
301,787
(2,387,493)
Actual
1,291,186
93,787
1,384,973
33,197
496,623
20,248
550,068
834,905
301 ,787
1,136,692
Variance -
favorable
(unfavorable)
1,291,186
93,787
1,384,973
11,903
2,147,557
(20,248)
2,139,212
3,524,185
3,524,185
See accompanying accountants' report
49
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended Oune 30, 1983
Revenues:
Taxes
Interest income
Total Revenues
Expenditures:
Public Works
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balance at end of year
Budget
$ 423,000
423,000
Street Lighting
Actual
465,120
17,317
482,637
Variance -
favorable
(unfavorable)
42,120
17.517
59,637
$
s
467,517
467,517
(44,517)
198,281
153,764
-^ ' 1 «=
438,433
438,433
44,204
198,281
242,485
29,084
29,084
88,721
88,721
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 3une 30, 1983
Revenue Sharing
Revenues:
Intergovernmental revenues $
Interest income
Total Revenues
Expenditures:
Culture and recreation
Capital projects
Total 'Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year as
previously reported
Prior period adjustment
Fund balances at beginning of year
as adjusted
Fund balance (deficit) at end of year $
Budget
440,000
100,000
540,000
1,200
2,210,665
2,211,865
(1,671,865)
1,524,625
1,524,625
(147,240)
Actual
374,229
132,060
506,289
2,061
219,506
221,567
284,722
1,524,625
130,626
1,655,251
1,939,973
Variance -
favorable
(unfavorable)
(65,771)
32,060
(33,711)
(861)
1,991,159
1,990,298
1,956,587
130,626
130,626
2,087,213
See accompanying accountants' report
51
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended Oune 30, 1983
Housing Authority - Section 8
Revenues:
Intergovernmental revenues
Interest income
Total Revenues
Expenditures:
Welfare
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balance at end of year
Budget
$ 933,089
10,000
943,089
943.510
943,510
(421)
212,959
$ 212,538
Actual
553,855
31,728
585,583
727,091
727,091
(141,508)
212,959
71,451
Variance -
favorable
(unfavorable)
(379,234)
21,728
(357.506)
216,419
216,419
(141,087)
(141,087)
See accompanying accountants' report
52
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended Oune 30, 1983
Community Development Block Grant
Revenues:
Intergovernmental revenues
Interest income
Total Revenues
Expenditures:
Public Works
Capital projects
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balance (deficit) at end of year
Budget
$ 633,184
633,184
48,533
814,353
862,886
(229,702)
84,233
$ (145,469)
Actual
323,235
9,569
332,804
44,626
505,258
549,884
(217,080)
84,233
(132,847)
Variance -
favorable
(unfavorable)
(309,949)
9,569
(300,380)
3,907
309,095
313,002
12,622
12,622
See accompanying accountants' report
53
CITY OF CARLSBAD
Special Revenue Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended Dune 30, 1983
Low and Moderate Income Housing
Revenues:
Taxes
Total Revenues
Expenditures:
Capital projets
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balance at end of year
Budget Actual
14,005
14,005
14.005
14,005
Variance -
favorable
(unfavorable)
14,005
14,005
14,005
14,005
See accompanying accountants' report
54
CITY OF CARLSBAD
Debt Service Funds
Combining Balance Sheet
Dune 30, 1983
Assets
Cash and cash equivalents
Taxes receivable
Accrued interest receivable
Total assets
Library
Bonds
$ 41,000
$ 42,945
Sewer
Bonds
53,136
2,417
4,088
59,641
Parking
Authority
1,242,410
18,546
1,260,956
Liabilities and Fund Balances
Liabilities:
Accounts payable
Due to other funds
Total liabilities
115
3,841
3,956
250
250
Fund balance:
Reserved for debt service
Reserved for payment of bond
principal and interest
Reserved for working capital
Unreserved
Total fund balances
Total liabilities and fund balances
38,989 59,391
449,194
3,000
809,762
1,260,956
1,260,956
See accompanying accountants' report
55
Totals
Building Dune 30, Oune 30,
Authority 1983 1982
103,505 1,440,051 1,139,329
2,417 1,444
24,379 44,107
103,505 1,467,047 1,184,880
365
3,841
4,206
98,380 123,248
53,725 501,919 504,681
1,500 4,500 4,500
48,280 858,042 552,451
103,505 1,462,841 1,184,880
103,505 1,467,047 1,184,880
56
CITY OF CARLSBAD ^
Debt Service Funds
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Year ended Oune 30, 1983
Library Sewer Parking
Bonds Bonds Authority
Revenues:
Taxes 113,940
Interest income $ 6,069 12,920 115,106
Total revenues 6,069 126,860 115,106
Expenditures:
General government 2,272
Principal retirement 15,000 100,000 50,000
Interest and fiscal charges 7,477 35.320 193,150
Total expenditures 22,477 135,320 245,422
Excess (deficiency) of revenues
over expenditures (16,408) (8,460) (130,316)
Other financing sources (uses):
Operating Transfers in(out) 390,500
Total other financing sources(uses) 390,500
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses (16,408) (8,460) 260,184
Fund balances at beginning of year 55,397 67,851 1,000,772
Fund balances at end of year $ 38,989 59,391 1,260,956
See accompanying accountants' report
57
Totals
Building
Authority
7,748
7.748
903
20,000
16,200
37,103
(29,355)
72,000
72,000
42,645
60.860
103,505
3une 30,
1983
113,940
141,843
255,783
3,175
185,000
252,147
440,322
(184,539)
462,500
462,500
277,961
1,184,880
1,462,841
Dune 30,
1982
107,297
187,546
294,843
3,799
170,000
259,822
433,621
(138,778)
226,292
226,292
87,514
1,097,366
1,184,880
58
CITY OF CARLSBAD
Debt Sevice Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended Oune 30, 1983
Revenues:
Interest income
Total Revenues
Expenditures:
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balance at end of year
Budget
7,000
7,000
15,000
7,650
22,650
(15,650)
55,397
39,747
Library Bonds
Actual
6,069
6,069
15,000
7,477
22,477
(16,408)
55,397
38,989
Variance -
favorable
(unfavorable)
(931)
(931)
173
173
(758)
(758)O
See accompanying accountants' report
59
CITY OF CARLSBAD
Debt Service Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1983
Sewer Bonds
Revenues:
Taxes
Interest income
Total Revenues
Expenditures:
Debt service expenditures:
Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (deficiency) of revenues
over expenditures
Fund balances at beginning of year
Fund balance at end of year
Budget
$ 120,000
2,000
122,000
100,000
26,490
126,490
(4,490)
67,851
$ 63,361
Actual
113,940
12,920
126,860
100,000
35,320
135,320
(8,460)
67,851
59,391
Variance -
favorable
(unfavorable)
(6,060)
10,920
4,860
(8,830)
(8,830)
(3.970)
(3,970)
See accompanying accountants' report
60
CITY OF CARLSBAD
Debt Service Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended 3une 30, 1983
Parking Authority
o
Revenues:
Interest income $
Total Revenues
Expenditures:
General government
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 1
Fund balance at end of year $1
Budget
115,106
115,106
2,272
50,000
193,150
245,422
(130,316)
390,500
390,500
260,184
,000,772
,260,956
Variance -
favorable
Actual (unfavorable)
115,106
115,106
2,272
50,000
193,150
245,422
(130,316)
390,500
390,500
260,184
1,000,772
1,260,956
See accompanying accountants' report
61
CITY OF CARLSBAD
Debt Service Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1983
Building Authority
Revenues:
Interest income
Total Revenues
Expenditures:
General government
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) 72,000
Excess (deficiency) of revenues
and other sources over expend-
itures and other uses
Fund balances at beginning of year
Fund balance at end of year
Budget
$ 7,748
7,748
903
20,000
16,200
37,103
(29,355)
72,000
:s) 72,000
42,645
60,860
$ 103,505
Variance -
favorable
Actual (unfavorable)
7,748
7,748
903
20,000
16,200
37,103
(29,355)
72,000
72,000
42,645
60,860
103,505
See accompanying accountants' report
62
CITY OF CARLSBAD
Capital Projects Funds
Combining Balance Sheet
3une 30, 1983
Assets
Cash and cash equivalents
Accounts receivable
Accrued interest receivable
Due from other funds
Total assets
Capital
Construction
$ 2,404,138
5,068
$ 2,409,206
Public
Facilities
Construction
1,835,025
18,923
1,853,948
Liabilities and Fund Balances
Liabilities:
Accounts payable
Due to other funds
Accrued wages payable
Advances from other funds
Total liabilities
Fund balances:
Reserved for encumbrances
Reserved for repayment of advances
Unreserved:
Designated for approved capital projects
Undesignated
Total fund balances
Total liabilities and fund balances
55,568
1,564,426
789,212
2,409,206
$ 2,409,206
84,286
2,100,160
(330,498)
1,853,948
1,853,948
See accompanying accountants' report
63
Park Bristol
Development Cove
871,314
9,423
880,737
75,000
805,737
46,760
74
46,834
46,834
46,834
46,834
Planned
Local
Drainage
Facilities
257,428
3,807
Totals
261,235
261,235
261.235
261,235
Redevelopment
Project
56,787
56,787
53
714
361.622
362,389
56,020
(361,622)
(305.602)
56,787
Oune 30,
1983
5,471,452
5,068
32,227
5,508,747
53
714
361,622
362,389
139,854
56,020
3,739,586
1,210,898
5,146,358
5,508,747
Oune 30,
1982
2,090,640
15,500
22,013
3,054,313
5,182,466
27,022
444,785
235,051
706,858
36,376
(235,051)
3,774,786
899,497
4,475,608
5,182,466
64
CITY OF CARLSBAD
Capital Projects Funds
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balance
Year ended Oune 30, 1983
Capital
Construction
Revenues:
Taxes
Charges for services
Interest income
Total revenues
Public
Facilities
Construction
664,118
102,417
766,535
Expenditures:
Police and Utility Service Center
Macario Canyon
Community Development Center
La Costa Canyon Park
Street additions and improvements
Library addition
Storm Drains
City Operations Center
Longard Tube
Redevelopment area project
Other construction projects
Total expenditures
7,716
102,264
13,867
37,574
77,149
238,570
18,425
88,157
20
106,602
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating transfer in (out)
Excess (deficiency) of revenues
& other sources (uses) over expenditures
Fund balances at beginning of year
Fund balance at end of year
(238,570)
52,070
(186,500)
2,595.706
$ 2,409,206
659,933
659,933
1,194.015
1,853,948
See accompanying accountants' report
65
Park Bristol
Development Cove
149,874
71,391 3,010
221,265 3,010
36,541
36,541
184,724 3,010
184,724 3,010
696,013 43,824
Planned
Local
Drainage
Facilities
224,641
8,276
232,917
232,917
232,917
28,318
Totals
Redevelopment Oune 30,
Project 1983
>6,020 56,020
1,038,633
185,094
56,020 1,279,747
7,716
36,541
120,689
88,157
13,867
37,574
77,149
126,571 126,571
20
126,571 508,284
(70,551) 771,463
52,070
(70,551) 823,533
(235,051) 4,322,825
3une 30,
1982
586,814
109,633
696,447
2,002,162
2,085,514
235,051
244,396
4,567,123
(3,870,676)
3,054,313
(816,363)
5,139,188
188,263
880,737 46,834 261,235 (305,602)5,146,358 4,322,825
66
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended 3une 30, 1983
Capital Construction
Revenues:
Taxes
Intergovernmental revenues
Interest income
Total Revenues
Expenditures:
Capital projects
Total Expenditures
Budget
2,377,972
2,377,972
Excess (deficiency) of revenues
over expenditures (2,377,972)
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 (2,377,972)
Fund balances at beginning of year 2,595,706
Fund balance at end of year $ 217,734
Actual
Variance -
favorable
(unfavorable)
238,570
238,570
(238,570)
52,070
52,070
(186,500)
2,139,402
2,139,402
2,139,402
52,070
52,070
2,191,472
2,595,706
2,409,206 2,191,472
See accompanying accountants' report
67
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30,
Public
1983
Facilities Construction
Revenues:
Charges for services $
Interest income
Total Revenues 1
Expenditures:
Capital projects 2
Total Expenditures 2
Excess (deficiency) of revenues
over expenditures (1
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 (1
Fund balances at beginning of year 1
Fund balance (deficit) at end of year $
Budget
900,000
100,000
,000,000
,280,296
,280,296
,280,296)
,280,296)
,194,015
(86,281)
Actual
664,118
102,417
766,535
106,602
106,602
659,933
659,933
1,194,015
1,853,948
Variance -
favorable
(unfavorable)
(235,882)
2,417
(233,465)
2,173,694
2,173,694
1,940,229
1,940,229
1,940,229
See accompanying accountants' report
68
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended Oune 30, 1983
Park Development
Revenues:
Charges for services *
Interest income
Total Revenues
Expenditures:
Capital projects
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
Fund balance at end of year $
Budget
240,000
240,000
111,078
111,078
128,922
Actual
149,874
71,391
221,265
36,541
36,541
184,724
Variance -
favorable
(unfavorable)
(90,126)
71,391
(18,735)
74,537
74,537
55,802
>)
128,922
696,013
824,935
184,724
696,013
880,737
55,802
55,802
See accompanying accountants' report
69
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1983
Revenues:
Interest income $
Total Revenues
Expenditures:
Capital projects
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
Fund balance at end of year $
Budget
Bristol Cove
Actual
3,010
3,010
3,010
3,010
Variance -
favorable
(unfavorable)
3,010
3,010
3,010
3,010
3,010
See accompanying accountants' report
70
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended 3une 30, 1983
Planned Local Drainage Facility
Revenues:
Taxes $
Intergovernmental revenues
Charges for services
Interest income
Total Revenues
Expenditures:
Capital projects
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
Fund balance at end of year $
Budget Actual
8,276
232,917
232.917
232,917
28,318
261,235
Variance -
favorable
(unfavorable)
224,641
8,276
232,917
232,917
232,917
232,917
See accompanying accountants' report
71
CITY OF CARLSBAD
Capital Projects Fund Types
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual
Year ended June 30, 1983
Redevelopment Project
Revenues:
Taxes
Intergovernmental revenues
. Charges for services
Interest income
Total Revenues
Expenditures:
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 (deficit) at
beginning of year
Budget Actual
$ 56,020
56,020
150,706 103,066
23,505
150,706 126,571
(150,706) (70,551)
Variance -
favorable
(unfavorable)
56,020
56,020
47, 640
(23,505)
24,135
80,155
Fund balance (deficit) at end of year $
(150,706)
(235,051)
(385,757)
(70,551)
(235,051)
(305,602)
80,155
80,155
See accompanying accountants' report
72
CITY OF CARLSBAD
Enterprise Funds
Combining Balance Sheet
Oune 30, 1983
Assets;
Cash and cash equivalents
Receivables:
Accounts
Accrued interest
Inventory, at cost
Prepaid expenses
Total current assets:
Restricted assets:
Cash & cash equiv. (note 4)
Accrued interest
Total restricted assets:
Water
Utility
$ 2,374, HO
411,093
18,873
112,402
4,590
2,921,098
556,351
10,703
567.054
Property, plant and equipment:
Land and water rights 231,956
Buildings 37,964
Structures and improvements
Wells, reservoirs, and dams 1,289,853
Transmission & distrib. lines 4,022,304
Sewers, sewer lines and wells
Filters and pumps 147,349
Fire hydrants 364,969
Equipment and vehicles 266,794
Fire protection service 5,759
Construction in progress 72,195
6,439,143
Less accum. depreciation (1,917,338)
Net property, plant
and equipment
Total assets
Sewer
1,052,732
41,106
9,210
170,948
1,273.996
4,521,805
$ 8,009,957
2,120,747
6,001,567
1,170,846
11.147,970
20,441,130
(1,424,094)
19.017,036
20,291,032
Totals
dune 30,
1983
3,426,872
452,199
28,083
112,402
175,538
4,195,094
556,351
10,703
567,054
231,956
37,964
2,120,747
1,289,853
4,022,304
6,001,567
147,349
364,969
1,437,640
5,759
11^220,165
26,880,273
(3,341,432)
23,538,841
28,300,989
Oune 30,
1982
1,600,549
421,570
13,732
105,432
5,317
2,146,600
1,365,595
8,422
1,374,017
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
o
See accompanying accountants' report
73
Totals
Water
Utility Sewer
Liabilities;
Current liabilities (payable
from current assets):
Accounts payable $
Accrued wages payable
'Deposits payable
Total current liabilities
(payable from current assets)
Current liabilities (payable from "
restricted assets):
Accrued interest
Current portion of revenue bonds
payable
Total current liabilities
(payable from restricted
assets)
Total current liabilities
Long-term liabilities (note 6):
Revenue bonds payable (net of
unamortized discount of $8,638
and current portion)
Total liabilities
Fund Equity:
Contributed capital
Retained earnings:
Reserved for construction
Reserved for debt service
Unreserved:
Designated for continuing
appropriation
Designated for approved
capital projects
Undesignated
Total retained earnings
Total fund equity
138,345
78,719
217,064
125,000
125.000
342,064
893,362
1,235,426
2,423,080
567,055
887,441
73,000
2,823,955
4,351,451
6,774,531
182,584
4,502
187,086
187,086
187,086
18,880,825
111,535
752,213
359,373
1,223,121
20,103,946
1
21
3
5
26
3une
1983
320
4
78
404
125
125
529
893
,422
,303
678
887
825
,183
,574
,878
30,
,929
,502
,719
,150
,000
,000
,150
,362
,512
,905
,590
,441
,213
,328
,572
,477
Gune
1982
96
9
69
175
115
115
290
1,017
1,308
2,248
527
883
474
2,541
4,427
6,676
30,
,493
,182
,774
,449
,000
,000
,449
,683
,132
,965
,161
,998
,080
,970
,209
,174
Total liabilities and
fund equity $ 8,009,957 20,291,032 28,300,989 7,984,306
74
CITY OF CARLSBAD
Enterprise Funds
Combining Statement of Revenues, Expenses and Changes
in Retained Earnings
Year ended Dune 30, 1983
Operating revenues:
Metered water sales
Sewer service charges
Major facility fees
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 and donations
from private sources
Total non-operating
revenues (expenses)
Net income
Retained earnings at beginning
of year 4,427,209
Retained earnings at end of year $4,351,451
Totals
Water
Utility
$ 1,606,202
61,299
1,667,501
507,604
17,402
177,489
104,245
639
72,322
926,347
139,633
1,945,681
(278,180)
.):
266,914
(64,492)
202,422
(75,758)
Sewer
961,217
657,370
27,527
1,646,114
245,004
2,776
95,849
433,279
91
30,000
19,763
826,762
819,352
39,284
39,284
858,636
Dune 30,
1983
1,606,202
961,217
657,370
88,826
3,313,615
752,608
20,178
273,338
537,524
730
102,322
926,347
159,396
2,772,443
541,172
306,198
(64,492)
241,706
782,878
3une 30,
1982
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
364,485 4,791,694 4,033,181
1,223,121 5,574,572 4,427,209
See accompanying accountants' report
75
CITY OF CARLSBAD
Enterprise Funds
Combining Statement of Changes in Financial Position
Year ended Oune 30, 1983
Totals
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:
Acquisition of property, plant, and
equipment
Decrease in long-term revenue bonds
payable
Net decrease (increase) in other
restricted assets
Net decrease in other current
liabilities payable from
restricted asstets
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
Due to other funds
Deposits payable
Net increase in working capital $
Water
Utility
(75,758)
139,633
63,875
174,115
237,990
(199,351)
(115,000)
809,244
494,893
732,883
773,591
(10,477)
5,141
6,970
(727)
(41,852)
9,182
(8,945)
732,883
Sewer
858,636
19,763
878,399
878,399
(155,973)
(155,973)
722^426
726,519
(484)
6,976
170,948
(180,133)
(1,400)
722^426
Oune 30,
1983
782,878
159,396
942,274
174,115
1,116,389
(355,324)
(115,000)
809,244
338,920
1^455,309
1,500,110
(10,961)
12,117
6,970
170,221
(221,985)
7,782
(8,945)
1,455^309
Oune 30,
1982
394,028
146,427
540,455
(104,943)
(215,000)
(19,435)
(27,334)
(366,712)
173,743
146,312
(16,116)
9,355
9,118
(11)
292
(2,482)
35,628
(8,353)
173,743
See accompanying accountants' report
76
CITY OF CARLSBAD
Internal Service Funds
Combining Balance Sheet
3une 30, 1983
Workers'
Compensation
Assets
Current assets:
Cash and cash equivalents
Accrued interest receivable
Total current assets
Property and equipment:
Machinery and equipment
Less accumulated depreciation
Net property and equipment
Total assets
Liabilities and Fund Equity
Current liabilities:
Accounts payable
Accrued wages payable
Estimated claims payable
Due to other funds
$ 674,017
5,328
679,345
$ 679,345
2,200
126,143
Total current liabilities 128,343
Total liabilities $ 128,343
General
Liability
Self
Insurance
Totals
727,707
2,037
729,744
729,744
6,077
173,500
179,577
179,577
Central
Garage
62,146
62,146
1,308,296
(716,802)
591 ,494
653,640
28,366
4,212
32,578
32,578
Oune 30,
1983
1,463,870
7,365
1,471,235
1,308,296
(716,802)
591,494
2,062,729
36,643
4,212
299,643
340,498
340,498
June 30,
1982
979,496
4,223
983,719
983,71^,
s«
990
207,561
12,397
220,948
220,948
Contributed capital:
Contributed from Other Funds
Retained earnings (deficit):
Unreserved
Total fund equity
Total liabilites and
fund equity
500,000
51 ,002
700,000 591,494 1,791,494 900,000
(149,833) 29,568 (69,263) (137,229)
550,167 621,062 1,722,231 762,771
729,744 653,640 2,062,729
See accompanying accountants' report
77
CITY OF CARLSBAD
Internal Service Funds
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings
Year ended Oune 30, 1983
Workers'
Compensation
Operating revenue:
Charges for services $
Reimbursed expenditures 176,016
Total operating revenue 176,016
Operating expenses:
Personal services
Fuel
Office expense
Supplies and parts
Repairs and maintenance
Claims expense 187,969
Other operating charges
Total operating expenses 187,969
Operating income (loss) (11,953)
Non-operating revenues (expenses)
Interest revenue 59,108
Sale of property
Total non-operating
revenue (expense) 59,108
Income before operating
transfers 47,155
Operating transfers in (out) 15,553
Net income (loss)
Retained earnings (deficit) at
beginning of year
62,708
(11,706)
Retained earnings (deficit) at
end of year $ 51,002
General
Liability
Self
Insurance
150,890
150,890
214,885
214,885
(63,995)
39,685
39,685
(24,310)
(24,310)
(125,523)
(149,833)
Totals
Central
Garage
526,680
526,680
161,625
198,094
560
84,820
54,804
2,973
502,876
23,804
5,764
5,764
29,568
29,568
-0-
29,568
Oune 30,
1983
526,680
326,906
853,586
161,625
198,094
560
84,820
54,804
402,854
2,973
905,730
(52,144)
98,793
5,764
104,557
52,413
15,553
67,966
(137,229)
(69,263)
Oune 30,
1982
222,236
6,700
228,936
308,765
308,765
(79,829)
40,315
40,315
(39,514)
(39,514)
(97,715)
(137,229)
See accompanying accountants' report
78
CITY OF CARLSBAD
Internal Service Funds
Combining Statement of Changes in Financial Position
Year ended 3une 30, 1983
Workers'
Compensation
Sources of working capital:
Operations:
Net Income $ 62,708
Contributions from other funds 50.000
Total sources of working
capital
Uses of working capital:
Loss from operations
Acquisition of fixed assets
Total uses of working capital
112,708
Net increase in working
capital $ 112,708
Elements of net increase (decrease)
in working capital:
Cash and cash equivalents $
Accrued interest receivable
Estimated claims payable
Accounts Payable
Accrued wages payable
Due to other funds
Net increase in working
capital $ 112,708
See accompanying accountants' report
General
Liability
Self
Insurance
Totals
250,000
250,000
Central
Garage
29,568
591,
3une 30, 3une 30,
1983 1982
621,062
92,276
891,494
86,009
600,000
983,770 686,009
(24,310) (24,310) (125,523)
(591,494) (591,494)
(24,310) (591,494) (615,804) (125,523)
225,690 29,568 367,966 560,46^
73,845
2,354
25,322
(1,210)
12,397
348,383
788
(117,404)
(6,077)
62,146
(28,366)
(4,212)
484,374
3,142
(92,082)
(35,653)
(4,212)
12,397
679,496
4,223
(109,846)
(990)
(12,397)
225,690 29,568 367,966 560,486
o
79
CITY OF CARLSBAD
Agency Funds
Combining Statement of Changes in Assets and Liabilities
Year ended June 30, 1983
Payroil Deductions Agency Fund
Assets
Cash and cash equivalents
Liabilities
Accounts payable
Deposits payable
Total liabilities
Balance
July 1, 1982
$ 259,748
1,870
257,878
$ 259,748
Additions Deductions
Balance
June 30, 1983
9,437,702 9,213,817
8,235
9,429,467
1,870
9,211,947
9,437,702 9,213,817
483,633
8,235
475,398
483,633
Contractors Deposits Agency Fund
Assets
Cash and cash equivalents
Liabilities
Accounts payable
Deposits payable
Total liabilities
$ 416,788
2,412
$ 414,376
$ 416,788
-0-30,704 386,084
-0-
-0-
-0-
2,412
28,292
30,704
-0-
386,084
386,084
See accompanying accountants' report
(Continued)
80
CITY OF CARLSBAD
Agency Funds
Combining Statement of Changes in
Assets and Liabilities, continued
Year ended Oune 30, 1983
Balance
July 1. 1982
Miscellaneous Deposits Agency Fund
Assets
Cash and cash equivalent
Accrued interest receivable
Accounts receivable
Total assets
Liabilities
Accounts payable
Deposits payable
Total liabilities
Totals - All Agency Funds
Assets
Cash and cash equivalents
Accrued interest receivable
Accounts receivable
Total assets $1,344,736
$ 667,853
347
-0-
$ 668,200
$ 21,965
646,235
$ 668,200
Additions Deductions
Balance
June 30, 1983
726,728
810
70
727,608
30,859
696,749
727,608
549,690
347
-0-
550,037
21,965
528,072
550,037
844,891
810
70
845,771
30,859
814,912
845,771
$1,344,389
347
-0-
10,164,430
810
70
9,794,211
347
-0-
1,714,608
810
70
10,165,310 9,794,558 1,715,488
Liabilities
Accounts payable
Deposits payable
Total liabilities
$ 26,247
1,318.489
$1,344,736
39,094
10,126,216
26,247
9,768,311
39,094
1,676,394
10,165,310 9,794,558 1,715,488
See accompanying accountants' report
81
STATISTICAL SECTION
82
CITY OF CARLSBAD
General Expenditures by Function
Last Ten Years
Fiscal
Year '
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
Total(l)
(Memo Only)
$ 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
14,955,142
General
Government
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
2,272,174
Public
Safety
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
5,285,609
Public
Works
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
3,660,043
Culture
Recreation
472,965
569,791
725,928
1,095,120
1,122,003
1,161,115
1,599,729
2,261,888
2,732,343
2,573,014
Welfare J
544,597
608,009
650,202
727,155
Debt
Service
156,141
153,103
150,140
147,215
144,297
141,038
148,164
144,600
146,160
437,147
(1)
(2)
(3)
(4)
Includes General, Special Revenue, and Debt Service funds.
The City assumed responsibility for the Carlsbad Housing Office in 1979-80.
In 1982-83, the City adopted the entity concept of reporting. This causes
the Debt Service Expenditures to increase due to the inclusion of the City's
Building and Parking Authorities Lease Revenue Bond payments.
During 1982-83, the City converted the sewer operation activity from a
special revenue to an enterprise fund. Prior figures have not been restated
to remove sewer operation expenditures. This figure also includes $724,764
of capital projects paid for by special revenue funds.
o
83
THIS PAGE INTENTIONALLY LEFT BLANK
84
CITY OF CARLSBAD
General Revenue by Source
Last Ten Years
Fiscal
Year
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
Total
$ 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
17,034,503
Property
Taxes
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
4,393,176
Sales Taxes
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
3,974,732
Franchise
Taxes
42,836
54,818
78,254
96,818
111,271
141,185
175,257
250,101
288,956
358,228
Other Taxes
430,869
552,885
731,747
1,064,015
1,202,799
1,451,795
1,526,547
1,615,950
1,347,202
1,950,631
Includes General, Special Revenue, and Debt Service funds.
85
Business Other Intergov- Charges for Fines and Miscel-
Licenses Licenses ernmental Services Forfeits Interest laneous
78,573 447,970 343,294 395,410 55,116 138,148 27,473
88,675 322,203 459,473 546,670 84,279 223,751 41,365
111,253 448,814 566,129 643,995 100,859 214,346 56,765
141,050 908,521 547,477 859,008 139,480 294,892 89,054
151,768 909,201 873,544 862,138 125,964 489,638 183,828
186,845 626,749 655,588 851,465 129,504 817,604 130,620
242,342 829,623 1,316,172 1,168,326 152,171 1,143,121 167,576
247,798 1,048,332 1,133,947 1,737,238 230,684 1,472,681 124,791
258,663 537,476 1,875,243 1,986,800 260,498 1,533,333 75,963
279,973 491,267 2,551,262 1,413,075 231,086 1,211,802 179,271
86
CITY OF CARLSBAD
Ratio General Bonded Debt to Assessed Valuation
and Net Bonded Debt Per Capita
Last Ten Fiscal Years
Fiscal
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
Year
- 74
- 75
- 76
- 77
- 78
- 79
- 80
- 81
- 82
- 83
Net Assessed
Valuation
$ 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)
2,015,289,869(1)
Outstanding
Principal
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
1,030,000
Percent of
Total
Valuation
1.9
1.5
1.1
1.0
0.8
0.6
0.4
0.3
0.06
0.05
Per Capita
Debt
106.63
92.61
84.17
69.59
57.07
47.04
40.20
34.97
31.65
26.39
Population
18,147
19,977
20,970
24,143
27,946
32,100
35,448
35,606
36,172
39,037
(1) In 1981-82, the County of San Diego began providing assessed valuation data
based on full market value. The 1981-82 and 1982-83 values may be converted
to the basis used between 1973-74 and 1980-81 by multiplying by 25%.
87
CITY OF CARLSBAD
Computation of Legal Debt Margin
June 30, 1983
25% of Assessed Valuation $ 503,822,467
Debt Limit 15% of Assessed Valuation 75,573,370
Amount of Debt Applicable to Debt Limit:
Bonded Debt $ 3,915,000
Capitalized Leases 793,623
Total Amount of Debt
Applicable to Debt Limit 4,708,623
i?r
LEGAL DEBT MARGIN 70,864,747
Percent of Debt Limit 6.2%
88
CITY OF CARLSBAD
Schedule of Direct and Overlaping Bonded Debt
Dune 30, 1983
(1)1982-83 Assessed Valuation; $2,064,175,069
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) 91
Carlsbad Unified School District Authority
San Marcos Unified School District
San Dieguito Union High School District
(various issues) 10
Encinitas Union School District
(various issues) 26
Encinitas Union School District Authority
Other School Districts
Tri-City Hospital District
North San Diego Hospital District
& Authority
Leucadia County Water District
San Marcos County Water & Improvement
Districts #1, #2, #6 1
Costa Real (Carlsbad) Municipal Water Dist.&
Improvement Districts #1, #2, #3, #4 89
Olivenhain Municipal Water District
Improvement District #1
City of Carlsbad
City of Carlsbad Building & Parking Authorities
Vista Irrigation District
TOTOL DIRECT AND OVERLAPPING BONDED DEBT
Percent
Applicable
3.796%
3.954
0.610
26.115
.676-91.689
91.628
19.173
Debt as of
6/30/83
$ 6,619,654
1,654,155
2,878,669
156,690
1,122,313
2,231,141
958,012
.591-15.292
.683135.162
26.683
Various
29.938
0.412
54.185
.823-6.445
.073-95.949
34.596
100.
100.
0.012
615,217
519,832
489,633
25,003
805,332
79,185
531,013
108,374
1,438,696
704,028
1,030,000
2,885,000
849
$24,852,796
Ratios to Assessed Valuation:
Direct Debt ($3,915,000) 0.19%
Total Debt 1.20%
(1)Gross assessed value provided by County of San Diego,
Auditor and Controller (exclusive of Homeowners exemption),
89
CITY OF CARLSBAD
Ratio of Annual Debt Service
For General Bonded Debt to Total General
Expenditures - Last Ten Fiscal Years
Fiscal
Year
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
Principal
$ 85,000
85,000
85,000
85,000
85 ,000
85,000
95,000
95 ,000
100,000
115,000
Interest
71,141
68,108
65,140
62,215
59,297
56,038
53,164
49,600
46,160
42,757
Debt
Total /,.,
Service
156,141
153,103
150,140
147,215
144,297
141,038
148,164
144,600
146,160
157,797
Total /_v Ratio of Debt
General Service to General
Expenditures
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
14,955,142
Expenditures %
4.0%
3.2
2.7
2.1
1.7
1.5
1.4
1.0
1.0
1.1
Debt Service Requirement on General Obligation Bonds
Comprised of 1962 Sewer Bonds Series A, B, C; and
1966 Library Bonds. Excludes Debt Service for Building and
Parking Authorities.
Includes General, Special Revenue, and Debt Service Funds
90
CITY OF CARLSBAD
Revenue Bond Coverage
Water Bonds
Last Ten Fiscal Years
Net Revenue
Fiscal
Year
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
Gross
Revenue
$ 1
1
1
1
1
1
1
1
2
1
,051,
,112,
,257,
,271,
,388,
,525,
,806,
,997,
,084,
,934,
459
969
334
353
195
143
817
591
262
415
Direct
Operating
Expenses
594,649
727,981
785,261
897,240
1,023,717
1,269,836
1,333,560
1.655,756
1,620,519
1,945,681
Available
for Debt
Service
456
384
472
374
364
255
473
341
463
(11
,810
,988
,073
,113
,478
,307
,257
,835
,743
,266)
Debt
Principal
70,
70,
75,
60,
85,
90,
95,
105,
215,
115,
000
000
000
000
000
000
000
000
000
000
Service Requirements
Interest Total
108,958
105,096
100,972
96,362
91 ,245
85,603
80,377
74,985
69,715
64,492
178,958
175,096
175,972
176,362
176,245
175,603
175,377
179,985
284,715
179,492
Coverage
255%
220
268
212
207
145
270
190
163
(6)
91
CITY OF CARLSBAD
Demographic Statistics
Square
Year Miles
1974 25.6
1975 28.3
1976 28.6
1977 28.7
1978 28.7
1979 29.1
1980 29.4
1981 29.7
1982 29.8
1983 32.0
1990
(estimate)
1995
(estimate)
2000
(estimate)
Population
Percent
Population Change
18,147
19,977
20,970
24,143
27,946
32,100
35,448
35,606
36,172
29,037
75,265 (3)
92,134 (3)
107,327 (3)
7.4%
10.1
5.0
15.1
15.8
14.9
10.4
0.4
1.6
7.9
County (1)
Population
1,544,600
1,559,505
1,590,700
1,656,800
1,694,800
1,767,450
1,808,200
1,899,900
1,924,700
1,986,035
(2)
(2)
(2)
City
Population
Percent
of County
1.2%
1.3
1.3
1.5
1.6
1.8
2.0
1.9
1.9
2.0
(1)
(2)
(3)
Source - County Data Base, San Diego County
County Future Population Estimate Not Available
Population for City General Plan area
92
CITY OF CARLSBAD
Schedule of Assessed Valuation
Last Ten Fiscal Years
Fiscal Year
Secured
Property
Unsecured
Property
Less
Property
Exemptions
Total
Valuation
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 1,149,614 164,976,925
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)1982 - 83VU2,027,411,290 50,604,897 13,841,078 2,064,175,069
(1) In 1981-82 the County of San Diego began providing assessed valuation data
based on full market value. The 1981-82 values and 1982-83 may be converted
to the basis used between 1972-73 and 1980-81 by multiplying by 25%.
93
Business Net
Inventory Homeowner's Taxable
Exemptions Exemptions Value
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
48,885,200 2,015,289,869
94
CITY OF CARLSBAD
Construction and Business Activity
Last Ten Years
Fiscal Year
Building
Permits
Issued
Percent
Change
Estimated *
Valuation
Business
Licenses
Issued
Percent
Change
1973-74
1974-75
1975-76
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
$ 232,598
110,952
190,492
613,427
520,603
119,224
181,839
328,453
271,542
490,100
8.3 %
(52.3)
71.7
222.0
(15.1)
(77.1)
52.5
80.6
(17.3)
80.5
$23,700,000
41,900,000
85,900,000
52,700,263
79,400,000
$ 78,573
88,675
111,253
141,050
151,768
186,845
242,342
247,798
258,663
279,973
6.0%
12.9
25.5
26.8
7.6
23.1
29.7
2.3
4.4
8.2
(1)Information for fiscal year 1972-73 through 1977-78 is not available.
95
CITY OF CARLSBAD
Miscellaneous Statistical Information
Date of Incorporation
Type of City
Form of Government
Area
Population
Duly 16, 1952
General Law
Council/Manager
32.0 sq. miles
39,037
Number of Street Lights
Miles of Streets 138
Fire Protection:
Number of Stations
Number of Firefighters & Officers
3
49
Police Protection:
Number of Stations 1
Number of Sworn Police Officers 54
Recreation and Culture:
Number of Parks 22
Number of Libraries 1
Number of Volumes 140,000
Total Number of City Employees 312
96
CITY OF CARLSBAD
Schedule of Principal Employers
1982-83
Firm
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
Product/Service
Number of
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
Swimming pools & 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
97
CITY OF CARLSBAD
Water Utility Fund
Financial Statements
June 30, 1983 and 1982
(With Accountants' Report Thereon)
V-> V_/lN iV\l-J CERTIFIED PUBLIC ACCOUNTANTS
FOURTEEN CORPORATE PLAZA DRIVE
NEWPORT BEACH, CALIFORNIA92660
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, 1983 and 1982 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, 1983 and 1982, 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 basis consistent with that of the preceding year.
d
November 23, 1983
e
CITY OF CARLSBAD
Water Utility Fund
Balance Sheet
June 30, 1983 and 1982
Assets
Current assets:
2)
u r r o n t assets:
Cash and cash equivalents (note
Receivables:
Accounts
Accrued interest
Inventory, at cost
Prepaid expenses
Total current assets
Restricted assets:
Cash and cash equivalents (note 2)
Accrued interest
Total restricted assets
1983
$2,374,140
411,093
18,873
112,402
4,590
2,921,098
556,351
10.703
567,054
1982
1,600,549
421,570
13,732
105,432
5,317
2,146,600
1,365,595
8,422
1,374,017
Liabilities
Current liabilities (payable from
current assets):
Accounts payable
Accrued salaries
Deposits payable
Total current liabilities
(payable from current assets)
Current liabilities (payable from
restricted assets):
Current portion of revenue bonds payable
Total current liabilities (payable
from restricted assets)
Total current liabilities
1983
$ 138,345
78,719
217.064
125,000
125,000
342,064
1982
96,493
9,182
69,774
175,44?
115,000
115,000
290,449
Property, plant, and equipment:
Land and water rights
Bui Id i rigs
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
4,022,304
147,349
364,969
266,794
5,759
72,195
6,439,143
(1,917,338)
4,521,805
$8,009.957
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
Long-term liabilities (note 3):
Revenue bonds payable (net of unamortized
discount of $8,638 and current portion) 893,362 1,017,683
Total liabilities 1,235,426 1,308.132
Fund equity:
Contributed capital 2,423,080 2,248,965
Retained earnings:
Reserved for construction 567,055 527,161
Reserved for debt service 887,441 883,998
Designated for continuing appropriations 474,080
Designated for approved capital projects 73,000
Unreserved, undesignated 2,823,955 2,541.970
Total retained earnings 4,351,451 4,427,209
Total fund equity • 6,774,531 6,676,174
Total liabilities and fund equity $8,009,957 7,984,306
See accompanying Notes to Financial Statements
CITY OF CARLSBAD
Water Utility Fund
Statement of Earnings and
Retained Earnings
Years ended June 30, 1983 and 1982
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
Retained earnings at end of year
1983
(278,180)
266,914
(64,492)
202,422
(75,758)
1982
$1,606,
61,
1,667,
507,
17,
177,
104,
72,
926,
139,
1,945,
202
299
501
604
402
489
245
639
322
347
633
681
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
4,427,209 4,033,181
$4,351,451 4,427,209
See accompanying Notes to Financial Statements
CITY OF CARLSBAD
Water Utility Fund
Statement of Changes in Financial Position
Year ended June 30, 1983 and 1982
1983 1982
Sources of working capital:
Operations
Net income $(75,758) 394,028
Items not requiring working capital:
Depreciation and amortization 139,633 146,427
Working capital provided
by operations 63,875 540,455
Contribution from other funds 174,115
Total sources of working capital 237,990 540,455
Uses of working capital:
Acquisition of property, plant,
and equipment (199,351) (104,943)
Decrease in long-term revenue bonds payable (115,000) (215,000)
Net decrease (increase) in other
restricted assets - 809,244 (19,435)
Net decrease in other current liabilities
payable from restricted assets (27,334)
Total uses of working capital 494,893 (366,712)
Net increase in working capital $732,883 173,743
Elements of net increase (decrease) in
unrestricted working capital:
Cash and cash equivalents $773,591 146,312
Accounts receivable (10,477) (16,116)
Accrued interest receivable 5,141 9,355
Inventory 6,970 9,118
Prepaid expenses (727) (11)
Accounts payable (41,852) 292
Accrued salaries 9,182 (2,482)
Due to other funds 35,628
Deposits payable (8,945) (8,353)
Net increase in working capital $732,883 173,743
See accompanying Notes to Financial Statements
CITY OF CARLSBAD
Water Utility Fund
Notes to Financial Statements
June 30, 1983 and 1982
(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. 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, 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) Cash and Cash Equivalents
A summary of cash and cash equivalents is as follows:
1983 1982
Interest Rates Cost Interest Rates Cost
Unrestricted current assets:
Cash - 3 83,140 - 124,549
Certificates of deposit 9.13-15.63% 1,578,000 13.75-15.75% 1,240,000
Banker's acceptance and
federal agency notes 12.50-14.25% 156,000 13.60-14.50% 236,000
Miscellaneous investments 9.00-13.00% 557,OOP
$2,374,140 1,600,549
Restricted current assets:
Cash - $ 1,351 - 109,854
Certificates of deposit 9.13-15.63% 108,000 13.75-15.75% 960,000
Banker's acceptance and
federal agency notes 13.60-14.50% 295,741
Miscellaneous investments 9.00-13.00% 447,000
$556,351 1,365,595
CITY OF CARLSBAD
Water Utility Fund
Notes to Financial Statements, Continued
(3) Long-Term Debt
A summary of Revenue Bonds Payable:
1983 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 of each
year at varying rates from 4.25% to 4.10%) $ 217,000 257,000
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%) 185,000 195,000
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%) 625,000 690,000
Total revenue bonds payable 1,027,000 1,142,000
Less unamortized discount (8,638) (9,317)
1,018,362 1,132,683
Less current portion (125,000) (115,000)
Total $ 893,362 • 1,017,683
At June 30, 1983 the requisite 1.35 times interest and principal minimum of "net
revenues" was not met as shown below:
Gross Revenue $1,934,415
Operating Expenses 1,945,681
Net revenue (deficiency) (11,266)
Amount required for payment of principal
and interest payable for the fiscal year
ended June 30, 1983 $179,492
1.35 (242,314)
-Jet revenue (deficiency) $(253,580)
At June 30, 1983, the City was in compliance with all additional debt covenants
excect as discussed above.
LAUDjjyREPORT FOR THE
SERRA CTJtrPERATIVE LIBRARY SYSTEM
FISCAL YEAR ENDED JUNE 30, 1983
SERRA COOPERATIVE LIBRARY SYSTEM
TABLE OF CONTENTS
PAGE
SECTION I
Audit Report 1
Balance Sheet - June 30, 1983 and 1982 2
Statement of Revenues, Expenditures and Changes
in Fund Balances - June 30, 1983 and 1982.~ 3
Statement of Revenues and Expenditures - Budget
and Actual - June 30, 1983 4
Notes to Financial Statements - June 30, 1983 5-6
SECTION I
AUDIT REPORT FOR THE
SERRA COOPERATIVE LIBRARY SYSTEM
FISCAL YEAR ENDED JUNE 30, 1983
OF SAN Dlb^O
OFFICE OF THE AUDITOR AND CONTROLLER
1600 Pacific Highway • San Diego, CA 92101
Rod Calvao
Auditor and Controller
236-3711
January 3, 1984
System Director
Serra Cooperative Library System
5555 Overland Avenue
San Diego, CA 92123
Pursuant to Section 6505 of the California Government Code, we
have examined the combined financial statements of the Serra Coop-
erative Library System, as of and for the years ended June 30,
1983 and 1982, as listed in the table of contents. Our examina-
tions 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 neces-
sary in the circumstances.
In our opinion, the combined financial statements referred to
above present fairly the financial position of the Serra Coopera-
tive Library System at June 30, 1983 and 1982, and the results of
its operations and changes in fund balances for the fiscal years
then ended, in conformity with generally accepted accounting prin-
ciples applied on a basis consistent with that of the preceding
years.
GILMORECHRISTOPHER P,
Audit Manager
AUD:SA:pao
cc: Board of Supervisors
Grand Jury (C40)
City of San Diego
City of Oceanside
City of Carlsbad
City of Escondido
City of Coronado
County of Imperial
Files (2)
MAR60.T HOLCOMBE
Staff Auditor
City of National City
City of Chula Vista
City of Brawley
City of El Centre
City of Imperial
California State
Librarian
Office of Financial
Management
-1-
SERRA COOPERATIVE LIBRARY SYSTEM
BALANCE SHEET
JUNE 30, 1983 AND 1982
Assets
Cash in County Treasury
Collections in Transit
Cash in Banks
Interest Apportionment
Recei vable
Accounts Receivable
Fixed Assets
Total Assets
General Fund
June 30
1983
$146,536
24,395
38,217
7,956
44,617
$261,721
1982
$212,646
54,022
21
5,691
$272,380
General Fixed Assets
Account Group
June 30
1983
$87,691
$87,691
June 30
1982
$83,672
$83,672
Liabilities and Fund Balances
Liabilities
Accounts Payable $ 40,278
Deferred Credit
Total Liabilities 40,278
Fund Balances
Reserved for Special
Projects 1,275
Reserved for Fixed Asset
Acquisitions 10,000
Reserved for Encumbrances
Unreserved 210,168
Equity in Fixed Assets
Total Fund Balances 221,443
Total Liabilities and Fund
Balances $261,721
$ 26,582
85.908
112,490
25,862
134,028
159,890
$87.691
87,691
$272,380 $87,691
$83.672
83,672
$83,672
The notes to the financial statements are an integral part of this
statement.
- 2 -
SERRA COOPERATIVE LIBRARY SYSTEM
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
FOR THE YEARS ENDED JUNE 30, 1983 AND 1982
1983 1982
Revenues
Federal Grant $295,416 $ 89,862
State Grant 355,245 361,337
Local Contributions 5,844 8,598
Interest Income 19,737 20,389
Special Revenue 6,993
Total Revenues $683,235 $480,186
Expenditures
Salaries and Benefits (Note 3) $449,133 $364,467
Special Dept. Expense 6,443 3,021
Overhead 21,751 19,294
Books and Publications 7,139 3,962
Other Operating Expenses 133,197 101,303
Fixed Assets * 4,019 23,274
Total Expenditures $621,682 $515.321
Excess of Revenues Over
(Under) Expenditures 61,553 (35,135)
Fund Balances - Beginning of Year 159,890 195,025
Fund Balances - End of Year $221,443 $159,890
The notes to the financial statements are an integral part of this
statement.
SERRA COOPERATIVE LIBRARY SYSTEM
GENERAL FUND
STATEMENT OF REVENUES AND EXPENDITURES-BUDGET
FOR THE YEAR ENDED JUNE 30, 1983
AND ACTUAL
Revenues
Federal Grant
State Grant
Local Contributions
Interest Income
Special Revenue
Total Revenues
Expenditures
Salaries and Benefits
Special Dept. Expense
Overhead
Books and Publications
Other Operatinq Expenses
Fixed Assets
Total Expenditures
Excess of Revenues Over
(Under) Expenditures
Actual Budget
Variance
Favorable
(Unfavorable)
$295,416
355,245
5,844
19,737
6,993
$683,235
$449,133
6,443
21,751
7,139
133,197
4,019
$621,682
$ 295,416
355,520
4,500
14,000
-0-
$ 669,436
$ 490,018
106,929
39,160
29,700
121,566
8,263
$ 795,636
$ -0-
(275)
1,344
5,737
6,993
$ 13,799
$ 40,885
100,486
17,409
22,561
(11,631)
4,244
$ 173,954
$ 61,553 $(126,200)$ 187.753
The notes to the financial statements are an integral part of this
statement.
- 4 -
SERRA COOPERATIVE LIBRARY SYSTEM
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1983
Note 1. GENERAL:
The Serra Cooperative Library System (SCLS) was created
by a Joint Powers Agreement entered into on June 30, 1965,
between the cities of San Diego, Oceanside, National City,
and Carlsbad. The Agreement was amended to include the
cities of Brawley, Calexico, Chula Vista, Coronado, El
Centre, Escondido, Imperial, and the counties of San Diego
and Imperial. The purpose of the Agreement is to improve
and extend public library services to all residents of
California cities and counties by closer cooperation be-
tween their respective libraries. It provides that the
System shall be governed by an Administrative Council con-
sisting of the head librarians of each member library.
The Administrative Council elects one of the members as
president, who serves for one year.
The County of San Diego provides headquarters for the Sys-
tem. Prior to January 1983, the County of San Diego acted
as contracting agency with the State of California for the
receipt, disbursement, and accounting of funds allocated
by the State and Federal governments for System use. The
County charged the System overhead costs through a cost
allocation plan and via work authorization for direct
charges. Effective January 1983, Amendment No. 7 to the
Joint Powers Agreement transferred contracting responsi-
bility from the County to the System. In accordance with
Government Code Section 6505.5 the County Treasurer is the
depository and has custody of all System funds.
Note 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
The accounting policies of the SCLS conform to generally
accepted accounting principles applicable to governmental
units. The following is a summary of the more signifi-
cant of such policies:
A. BASIS OF PRESENTATION:
The financial transactions of the SCLS are recorded in
the General Fund and the General Fixed Assets Account
Group (GFAAG). The General Fund is the SCLS's operat-
ing fund. It accounts for all financial resources ex-
cept those required to be accounted for in the GFAAG.
The GFAAG accounts for all fixed assets purchased by
SCLS.
-5-
Serra Cooperative Library System
Notes to Financial Statements
June 30, 1983
B. BASIS OF ACCOUNTING:
Note 3.
SCLS uses
der which
i t i e s are
ceived in
the modified
expenditures
incurred and
cash, unless
accrual basis of accounting un-
are recorded at the time liabil-
revenues are recorded when re-
they are susceptible to accrual;
i.e., measurable and available to finance the SCLS's
operations 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.
C. FIXED ASSETS:
General Fixed Assets are recorded as expenditures in
the General Fund at the time of purchase. These as-
sets are capitalized at cost in the General Fixed
Assets Account Group. No depreciation has been pro-
vided on General Fixed Assets. A summary of changes
in General Fixed Assets during FY 1982/83 follows:
Beginning Ending
Description Balance Additions Deletions Balance
Equipment $83,672 $4,019
EMPLOYEES' RETIREMENT PLAN:
-0-$87,691
Effective April 1, 1979, the System entered into a group
annuity contract with the Travelers Insurance Company to
fund a pension plan covering all regular active employ-
ees. Contributions to the plan are made by the System at
a rate of 5% of gross salaries and wages. Employees con-
tribute at a rate of 3% of their salaries and have the
option of contributing additional voluntary amounts equal
to a maximum of 10% of monthly pay. The System's policy
is to fund the pension costs as they are incurred. Em-
ployees' retirement benefits are vested at 10% for each
year of participation in the plan. Pension expenses for
the fiscal years ended June 30, 1983 and 1982 were $9,902
and $9,656 respectively and are included in salaries and
benefit expenditures.
-6-
CARLSBAD REDEVELOPMENT AGENCY
Financial Statements
June 30, 1983
(With Accountants' Report Thereon)
ft? C_>OIN rVvL) 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 combined balance sheet of the various funds and account group
of the Carlsbad Redevelopment Agency as of June 30, 1983 and the related statement
of revenues, expenditures, and changes in fund balance for the year then ended.
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 financial statements present fairly the
financial position of the various funds and account group of the Carlsbad
Redevelopment Agency at June 30, 1983, and the results of operations of such funds
for the year then ended, in conformity with generally accepted accounting
principles applied on a basis consistent with that of the preceding year.
-4—
October 21, 1983
CARLSBAD FEDEVEDOEMENT
Combined Statement of Revenues, Expenditures, and
Changes in Fund Balances
Year Ended June 30, 1983
Governmental Fund Types (Total
Low and Memorandum Cnly)
Moderate Debt Redevelopment Jane 30, June 30,
Housing Fund Service Fund Project Fund 1963 1982
Revenues:
Tax Increment $14,005 56,020 70,025
Expenditures:
Aininistration:
Salaries and fringe benefits 33,650 33,650 24,131
Professional services 14,790 14,790 10,751
Services from the City of Carlsbad 50,333 50,333
Other 4,293 4,293 18,241
Debt service 23,505 23,505
Total expenditures 23,505 103,066 126,571 53,123
Excess (deficiency) of
revenues over expenditures 14,005 32,515 (103,066) (56,546) (53,123)
Cther Financing Sources:
Proceeds from Advances frcm
. the City of Carlsbad 23,505 103,066 126,571 53,123
Excess (deficiency) of
revenues and other sources
over expenditures 14,005 56,020 70,025
Fund balance beginning of year
Fund balance at end of year $14,005 56,020 70,025
See accompanying notes to financial statements
CARLSBAD KEDEVELCEMEOT AGENCY
Combined Balance Sheet
June 30, 1983
Assets
Cash, and cash equiv-
alents
Amount to be provided
for retirement of ad-
vances
Total assets
Governmental Fund Types
Low and Debt
Moderate Income Service
Housing Fund Fund
Account Group (Total Memorandum
Redevelopment Long-term only)
$14,005
$14,005
56,020
56,020
Project
Fund
767
767
Debt Account June 30, June 30,
Group 1983 1982
70,792
361,622 361,622 235,050
361,622 432,414 235,050
Liabilities and Fund
Balance
Liabilities:
Accounts payable
Accrued expenses
Advances from the
City of Carlsbad
Total
53
714
767
53
714
361,622 361,622
361,622 362,389
235,050
235,050
Fund balance:
Reserved for debt
service 56,020
Reserved for lew
and moderate in-
cone housing 14,005
Total fund balances 14,005 56,020
Total liabilities
and fund balance $14,005 56,020
56,020
14,005
70,025
767 361,622 432,414 235,050
See accompanying notes to financial statements.
CARLSBAD REDEVELOPMENT AGENCY
Notes to Financial Statements
June 30, 1983
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.
Relationship to the City of Carlsbad
The Carlsbad Redevelopment Agency is an integral part of the reporting entity
of the City of Carlsbad. The funds and account group of the Agency have been
included within the scope of the general purpose financial statements of the
City because the City Council of the City of Carlsbad exercises oversight
responsibility over the operations of the Agency. Only the funds and account
group of the Agency are included herein and these financial statements,
therefore, do not purport to represent the financial position or results of
operatons of the City of Carlsbad, California.
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 the governmental fund types.
Under the modified accrual basis of accounting, 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 influences 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 administration expenditures. At June
30, 1983, the aggregate amount of City advances are $338,117. Interest at 10%
per year is payable on the City advances.
CERTIFIED PUBLIC ACCOUNTANTS
SSOCIATES FOURTEEN CORPORATE PLAZA DRIVE
NEWPORT BEACH, CALIFORNIA 92660
714/759-0511
ACCOUNTANTS' REPORT ON
COMPLIANCE WITH AUDIT GUIDELINES FOR
CALIFORNIA REDEVELOPMENT AGENCIES
Board of Directors
Carlsbad Redevelopment Agency
Carlsbad, California
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 Redevelopment Agency
of the City of Carlsbad complied in all material respects with criteria established
in the State Controller's guidelines referred to above.
October 21, 1983
CITY OF CARLSBAD
REPORT OF EXAMINATION OF THE
LOCAL TRANSPORTATION FUND
FOR THE FISCAL YEARS ENDED
JUNE 30, 1983 AND 1982
KENNETH CORY
STATE CONTROLLER
DIVISION OF LOCAL GOVERNMENT FISCAL AFFAIRS
BUREAU OF STREETS AND ROADS
CITY OF CARLSBAD
TABLE OF CONTENTS
JUNE 30, 1983
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
Notes to the Financial Statements 6
KENNETH CORY
of tfye jitate of (Haltfcmia
SACRAMENTO, CALIFORNIA 958O5
October 11, 1983
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, 1983 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, 1983 and June 30, 1982 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 11, 1983
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. EtzYer, Chief
Bureau of Streets and Roads
(916) 322-5613
DEE/gk
Attachments
1765F
cc: City of Carlsbad
Secretary of Business and Transportation
CITY OF CARLSBAD
LOCAL TRANSPORTATION FUND
CONPARATIVE BALANCE SHEETS
Pertaining to Section 99234(a) of the Public Utilities Code
June 30, 1983 and June 30, 1982
1983 1982
Assets
Cash
Investments
Accrued Interest Receivable
$ 705
103,000
380
$17,260
76,000
2,083
Total Assets $104,085 $95,343
Liabilities and Fund Balance
Fund Balance $104,085 $95,343
Total Liabilities and
Fund Balance $104,085 $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
Fiscal Year Ended June 30, 1983
With Comparative Actual Amounts for Year Ended June 30, 1982
Budget
1983
Variance
Favorable 1982
Actual (Unfavorable) Actual
Revenues:
Intergovernmental:
Allocations:
Miscellaneous:
Interest
Total
$ _Q- $ -0- $ -0- $12,612
-0-
-0-
8,742
8,742
8,742 5,365
8,742 17,977
Expenditures:
Construction -0--0--0-985
Total
Excess (Deficiency)
of Revenues Over
Expenditures
Fund Balance at Beginning
of Year
-0-
-0-
95,343
-0-
8,742
95,343
-0-985
8,742 16,992
-0- 78,351
Fund Balance at End of Year $95,343 $104,085 $8,742 $95,343
See accompanying notes to financial statements.
-4-
CITY OF CARLSBAD
LOCAL TRANSPORTATION FUND
SCHEDULE OF TRANSPORTATION DEVELOPMENT ACT
ALLOCATIONS FOR SPECIFIC PROJECTS
Pertaining to Section 99234 of the Public Utilities Code
As of June 30, 1983
Proj.
No. Project Description
Totals to Date
3007 Coastal Bike Route $194,492
Harding St. Bike
Lane Signs and
Striping 840
Interest Applied 145
Chestnut St. Bike
Lane 11,772
Unexpended
Allocations Expenditures Allocations
$142,299 $ 52,193
840
145
-0-
-0-
-0-
11,772
Project
Status
*Closed
Closed
*0pen
Totals
Add: Unexpended Interest
Accumulated to Date . .
$207,249 $143,284
40,265
63,965
Less: Interest Applied
Above
Fund Balance, June 30, 1983
145 40,120 *
$104,085
* Unexpended allocations including interest will be used on the Jefferson
Street Bike Path project. Construction is to begin during the 1983/84
Fiscal Year.
See notes to financial statements.
-5-
CITY OF CARLSBAD
LOCAL TRANSPORTATION FUND
NOTES TO THE FINANCIAL STATEMENTS
FISCAL YEAR ENDED JUNE 30, 1983
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.
1765F
-6-
KENNETH CORY
Controller of tfpe ^iafe of OHtforwra
SACRAMENTO. CALIFORNIA 958O5
October 11, 1983
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, 1983 and
have issued our report thereon dated October 11, 1983. 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 11, 1983
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, 1983, 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
Chief
Bureau of Streets and Roads
(916) 322-5613
DEE/gk
Attachments
1765F
CITY OF CARLSBAD
REPORT OF EXAMINATION OF THE
SPECIAL GAS TAX STREET IMPROVEMENT FUNDS
FOR THE FISCAL YEARS ENDED
JUNE 30, 1983 AND 1982
KENNETH CORY
STATE CONTROLLER
DIVISION OF LOCAL GOVERNMENT FISCAL AFFAIRS
BUREAU OF STREETS AND ROADS
Audit Manager Al Porras
Audit Supervisor .... Jim L. Spano
(213) 575-7070
Auditor Art Luna, Auditor II
CITY OF CARLSBAD
SPECIAL GAS TAX STREET IMPROVEMENT FUNDS
TABLE OF CONTENTS
JUNE 30, 1983
Auditor's Report 1
Comparative Balance Sheet 2
Statement of Revenues, Expenditures, and
Changes In Fund Balance - Budget and Actual 3
Supplemental Statement of Changes in Fund Balance 4
Notes to Financial Statements 5
Report of Compliance - Section 2153 Streets and Highways Code 6
KENNETH CORY
(Eoitiroller of tip jitate of
SACRAMENTO. CALIFORNIA 958O5
December I, 1983
Mr. Jim Elliott
Finance Director
1200 Elm Avenue
City Hall
Carlsbad, CA 92008
Dear Mr. Elliott:
We have examined the balance sheet of the special gas tax street improvement
funds of the City of Carlsbad as of June 30, 1983 and June 30, 1982, and the
related statement of revenues and expenditures and changes in fund balance,
and supplemental statements 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 special gas tax street improvement funds of the City
of Carlsbad at June 30, 1983 and June 30, 1982, and the results of operation
of such funds for the years then ended, in conformity with generally accepted
accounting principles applied on a consistent basis.
Our examination was also made for the purpose of determining compliance with
Section 2153 of the Streets and Highways Code.
In our opinion, the funds described above were expended in conformance with
the applicable laws, rules, and regulations of the California Constitution and
the Streets and Highways Code.
Cordially,
KENNETH CORY, STATE CONTROLLER
Earl L. Lucas
Assistant Deputy State Controller
Local Government
DEE/mi By
Donald E. Etzle/1, Chief
Attachments Bureau of Streets and Roads
(916) 445-5153
2305F
CITY OF CARLSBAD
SPECIAL GAS TAX STREET IMPROVEMENT FUNDS
COMPARATIVE BALANCE SHEET
June 30, 1983 and June 30, 1982
1983 1982
Assets
Cash $1,267,679 $809,251
Interest Receivable 19,315 953
Total Assets $1.286,994 $810,204
Liabilities and Fund Balance
Liabilities $ -0- $ -0-
Total Liabilities -0- -0-
Fund Balance:
Undesignated 1,286,994 810.204
Total Fund Balance 1,286,994 810,204
Total Liabilities and
Fund Balance $1,286,994 $810.204
See accompanying notes to financial statements.
-2-
CITY OF CARLSBAD
SPECIAL GAS TAX STREET IMPROVEMENT FUNDS
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Year Ended June 30, 1983
With Comparative Actual Amounts for Year Ended June 30, 1982
1983
Budget
Variance
Favorable 1982
Actual (Unfavorable) Actual
Revenues: - Intergovernmental:
Apportionments:
Section 2106 S.H. Code
Section 2107 S.H. Code
Section 2107.5 S.H. Code
Miscellaneous:
Interest
Total Revenues
$135,400 $ 144,393 $ 8,993 $142,439
250,000 250,635 635 138,706
6,000 6,000 -0- 6,000
30,000 87,064 57,064 66,338
421,400 488,092 66,692 353,483
Expenditures:
Engineering and
Administration
Construction
Maintenance
Total Expenditures
-0-
-0-
561,801
561,801
-0- -0- -0-
11,302 (11,302) 135,259
-0- 561,801 -0-
11,302 550,499 135,259
Excess (Deficiency) Of
Revenues Over Expenditures (140,401) 476,790 617,191 218,224
Fund Balance at
Beginning of Year 810,204 810,204 -0-591,980
Fund Balance at End of Year $669,803 $1,286,994 $617,191 $810,204
See accompanying notes to financial statements.
-3-
CITY OF CARLSBAD
SPECIAL GAS TAX STREET IMPROVEMENT FUNDS
SUPPLEMENTAL STATEMENT OF CHANGES IN FUND BALANCE
Year Ended June 30, 1983
Section Section Section
2106 2107 2107.5 Total
Revenues $144,393 $337,699 $6,000 $ 488,092
Expenditures:
Engineering
Construction
Maintenance
Total Expenditures
-0-
-0-
-0-
-0-
-0-
11,302
-0-
11,302
-0-
-0-
-0-
-0-
-0-
11,302
-0-
11,302
Excess (Deficiency) of
Revenues Over
Expenditures 144,393 326,397 6,000 476,790
Fund Balance at
Beginning of Year 275,490 534.714 -0-810,204
Fund Balance
at End of Year $419,883 $861,111 $6.000 $1,286.994
See accompanying notes to financial statements.
-4-
CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
June 30, 1983
Basis Of Accounting:
The special gas tax street improvement funds are accounted for using the
modified accrual basis of accounting. Revenues are recognized when
received and expenditures are recognized when liabilities are incurred.
-5-
CITY OF CARLSBAD
SPECIAL GAS TAX STREET IMPROVEMENT FUNDS
REPORT OF COMPLIANCE - SECTION 2153 STREETS AND HIGHWAYS CODE
June 30, 1983
In accordance with Section 2153 of the Streets and Highways Code, we have
examined the accounts of the special gas tax street improvement funds.
One street purpose project was reviewed and was determined to be incomplete.
All incomplete projects are subject to further examination.
An adjustment will be required in your Annual Street Report to the
State Controller. The adjustment should be shown on Schedule 6b, a copy of
which is enclosed for your use.
-6-
SCHEDULE OF ADJUSTMENTS
Fiscal Year Ended June 30, 1984
City of Carlsbad
SCHEDULE 6b
ANNUAL STREET REPORT TO
STATE CONTROLLER
per Sections 2151-5,
Streets and Highways Code
Line
No.
1
2
3
4
5
6
7
8
9
'10
J.1
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
Detail of Adjustment
Entries to adjust the opening balances
on the Annual Street Report as follows:
Section 2107
To adjust the beginning ASR fund balance
Project #3141, Alga Road:
To adjust 2107 construction costs
overstated on ASR
TOTAL FUND ADJUSTMENTS (Transfer to Sch. 3, Li
SOURCE FROM WHICH PAID
Per Sec. 2106, S & H Code (Trans, to Sch. 3, L
Per Sec. 2107, S & H Code (Trans, to Sch. 3, L
Per Sec. 2107, S & H Code, Snow Removal (Trans
Line 25, Col. 3)
Per Sec. 2107.5, S & H Code (Trans, to Sch. 3,
Per Sec. 99234, P. U. Code (Trans, to Sch. 3, Li
Per Sec. 99400(a), P. U. Code (Trans, to Sch. 3,
County Contributions (Trans, to Sch. 3, Line 2
All Other Sources (Trans, to Sch. 3, Line 30,
TOTAL FUND ADJUSTMENTS
Funding
2107
2107
other
.ne 21) ....
.ine 23, Col. 3)
.ine 24, Col. 3)
;. to Sch. 3,
Line 26, Col. 3)
.ne 27, Col. 3)
Line 28, Col. 3)
!9, Col. 3) . .
Col. 3) ....
Increase
(Decrease)
$
(16,559)
(37,047)
37,047
$ (16,559)
$
(53,606)
37,047
$ (16,559)
1 Line 1
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
1
4173A
KENNETH CORY
(Emttrolbr of % Jftate of (Haltfarnta
SACRAMENTO, CALIFORNIA 958O5
January 10, 1984
Mr. Jim Elliot ;
Finance Director 1 j
1200 Elm Avenue \J
City Hall
Carlsbad, CA 92008
Dear Mr. Elliot:
Enclosed is a copy of the audit report concerning our financial and compliance
examination of the special gas tax street improvement funds as of
June 30, 1983.
We wish to thank you for your courtesy and cooperation.
Cordially,
KENNETH CORY, STATE CONTROLLER
Earl L. Lucas
Assistant Deputy State Controller
Local Government
By
William J.'
Audit Mana£
Bureau of Streets aftd Roads
(916) 445-5153
WJC/mi
Enclosure
2305F
ENCINA WATER POLLUTION CONTROL FACILITY
FINANCIAL INFORMATION
WITH REPORT ON EXAMINATION BY CERTIFIED PUBLIC ACCOUNTANTS
June 30, 1983
DIEHL, EVANS AND COMPANY
A PARTNERSHIP OF ACCOUNTANCY CORPOFiATIONS
CERTIFIED PUBLIC ACCOUNTANTS
ENCINA WATER POLLUTION CONTROL FACILITY
FINANCIAL INFORMATION
WITH REPORT ON EXAMINATION BY CERTIFIED PUBLIC ACCOUNTANTS
June 30, 1983
ELLIS C. DIEHL. C.P.A. (1925-1956)
BRYN B. EVANS. C PA.
PHIL'P H. HOLTKAMP. C.P.A
THOMAS M. PERLOWSKI. C PA
WIN G. PETERS. C.P.A.
DONALD H. PET EPSON, C.P.A
DONALD E CALLAHAN, C.P.A
L PETER SCHERER. C.P.A.
RODNEY K. McDANIf-L, C.P.A
DIEIHL, EVANS AND COMPANY
A PARTNERSHIP O*" ACCOUNTANCY CORPORATIONS
CERTIFIED PUBLIC ACCOUNTANTS
I a G WEST WOODWARD AVENUE
ESCONDIDO, CALIFORNIA 93025-9990
(6 I 9t 7-41-3 1-41
OTHER OFFICES AT;
Z96B ROOSEVELT STREET
CARLSBAD, CALIFORNIA 92OO6-2369
(6t9) 729-2343
I9«O NORTH BUSH STREET
SANTA ANA. CALIFORNIA 927O6-2894
(7(4) 542-4453
November 10, 1983
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, 1983 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 examina-
tion 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 schedules referred to above present fairly the
ownership of plant and equipment of the ENCINA WATER POLLUTION CONTROL FACILITY
as of June 30, 1983, 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.
ENCINA WATER POLLUTION CONTROL FACILITY
June 30, 1983
Table of Contents
Page
Number
Accountants' Report 1
Schedule of Ownership of Plant and Equipment 2
Schedule of Participants' Accounts 3
Schedule of Allocation of Revenue, Operating
Costs and Expenses 4
Schedule of Cash in Vista Trust Accounts 5
Schedule of Changes in Reserve for Non-grant
Funded Projects 6
Notes to Financial Schedules 7-10
r
C)
o
ENCINA WATER POLLUTION CONTROL FACILITY
SCHEDULE OF OWNERSHIP OF PLANT AND EQUIPMENT
June 30, 1983
Percentage Ownership
Unit V C B SM L E
A 100.0
B 93.0 7.0
C 84.5 15.5
D 84.5 15.5
E 72.7 27.3
F 62.7 37.3
G 61.5 38.5
(Includes force main)
H 48.3 51.7
I 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
Phase III Operations Building and Secondary
Treatment Facility (Note 3)
SYSTEM TOTALS
Office Equipment and Furninshings (1)
Plant Equipment (1)
Encina Plant Projects and Design Work (1)
TOTAL PLANT AND EQUIPMENT
BEFORE CONSTRUCTION IN PROGRESS
Construction in Progress, Encina Plant:
Expansion Phase III (Note 3)
Expansion Phase III - A (Note 3)
TOTAL PLANT AND EQUIPMENT
Total Costs
(Notes 2 and 3)
$ 252,526
326,406
195,513
93,925
169,419
379,776
118,564
513,056
2,469,384
2,171,685
15,734,266
22,424,520
48,929
146,259
206,524
22,826,232
38,606,744
453,997
$ 61,886,973
Vista
$ 252,526
303,558
165,208
79,367
123,168
238,120
72,917
247,806
727,481
362,020
4,720,280
7,292,451
14,414
43,088
60,842
$ 7,410,795
Carlsbad Buena San Marcos Leucadia
$ 22,848
30,305
14,558
46,251
141,656
45,647
265,250
616,111 $ 111,369 $ 430,908 $ 403,991
622,405 282,319 362,020 362,020
3,985,490 715,909 2,814,860 2,622,902
5,790,521 1,109,597 3,607,788 3,388,913
12,208 2,207 8,538 8,005
36,492 6,596 25,522 23,928
51,528 9,314 36,039 33,787
$ 5,890,749 $ 1,127,714 $ 3,677,887 $ 3,454,633
Encinitas
$ 179,524
180,901
874,825
1,235,250
3,557
10,633
15,014
$ 1,264,454
(1) Distributed on the same basis as Unit I.
See accompanying accountants' report and notes to financial schedules.
2
ENCINA WATER POLLUTION CONTROL FACILITY
SCHEDULE OF PARTICIPANTS' ACCOUNTS
For the year ended June 30, 1983
Vista Sanitation District (Note 6)
City of Carlsbad (Note 6)
Buena Vista Sanitation District
San Marcos County Water District
Leucadia County Water District
Encinitas Sanitary District
TOTALS
Due To (From)
Participants'
June 30, 1982
Excess of Costs
And Expenses
Over Revenue
Participants'
Payments
Due To (From)
Participants'
June 30, 1983
$
$
95
2
8
(5
1
103
,324
613
,931
,071
,135)
,351
,155
$ 422
269
49
222
203
41
$ 1,208
,478
,537
,601
,551
,381
,359
,907
$ 570
394
41
209
235
50
$ 1,501
,292
,503
,308
,257
,905
,712
,977
$ 243
125
(5
(5
27
10
$ 396
,138
,579
,362)
,223)
,389
,704
,225
N
See accompanying accountants' report and notes to financial schedules.
3
ENCINA WATER POLLUTION CONTROL FACILITY
SCHEDULE OF ALLOCATION OF REVENUE, OPERATING COSTS AND EXPENSES
For the year ended June 30, 1983
Totals Vista Carlsbad Buena San Marcos Leucadia Encinitas
REVENUE:
Interest income (Ownership Unit I)
Salvage income (Ownership Unit I)
Septic haulers income (Note 4)
TOTAL REVENUE
OPERATING COSTS:
Unit:
A - Vista outfall (Ownership)
B - Joint Vista - Carlsbad outfall (Ownership)
C - Buena Vista pump station (Ownership)
D, E, F, and H - Vista - Carlsbad sewers
and force mains (Note 4)
G - Agua Hedionda pump station (Note 4)
I - Encina plant (Note 4)
J - Encina ocean outfall (Note 4)
Capital outlays - (Ownership basis)
Industrial waste charges and laboratory monitoring
(direct costs)
Vista Meter station (direct costs) (Note 4)
Total Operating Costs
ADMINISTRATIVE EXPENSES:
Directors' meetings (direct costs)
Leucadia County Water District administration (Note 4)
Professional services (Ownership)
Insurance (Ownership and Note 4)
Custodial service (Ownership)
Travel and meetings (Note 4)
General manager, office manager and
benefits (Note 4)
Office expense, etc. (Note 4)
Total Administrative Expenses
TOTAL OPERATING COSTS AND
ADMINISTRATIVE EXPENSES
EXCESS OF COSTS AND EXPENSES OVER REVENUE
$ 90,568
529
22,894
113,991
112,823
41
65,373
880,988
54,704
15,748
4,529
1,134,206
3,200
12,800
54,502
17,952
7,070
5,852
76,406
10,910
188,692
1,322,898
$ 1,208,907
$ 26,681
156
6,410
33,247
95,335
23
36,870
246,677
16,116
4,069
2,554
401,644
675
3,584
16,056
5,596
2,083
1,639
21,394
3,054
54,081
455,725
$ 422,478
$ 22,597
132
4,945
27,674
17,488
18
28,503
190,293
13,649
1,976
1,975
253,902
550
2,765
13,598
4,507
1,764
1,264
16,504
2,357
43,309
297,211
$ 269,537
$ 4,085
24
1,076
5,185
41,406
2,467
1,754
45,627
625
602
2,458
776
319
275
3,591
513
9,159
54,786
$ 49,601
$ 15,804
92
4,991
20,887
192,055
9,546
4,413
206,014
575
2,790
9,511
3,004
1,234
1,276
16,656
2,378
37,424
243,438
$ 222,551
$ 14,817
87
4,602
19,506
177,079
8,949
2,269
188,297
400
2,573
8,917
2,817
1,156
1,176
15,358
2,193
34,590
222,887
$ 203,381
$ 6,584
38
870
7,492
33,478
3,977
1,267
38,722
375
486
3,962
1,252
514
222
2,903
415
10,129
48,851
$ 41,359
C,See accompanying accountants' report and notes to financial schedules.
4
ENCINA WATER POLLUTION CONTROL FACILITY
SCHEDULE OF CASH IN VISTA TRUST ACCOUNTS
For the year ended June 30, 1983
CASH IN TRUST ACCOUNTS - July 1, 1982
CASH RECEIPTS:
Contributions from participants $
Interest earned 654,079
Clean water grants - Phase III 9,791,500
CASH EXPENDITURES:
Encina expansion - Phase III
CASH IN TRUST ACCOUNTS - June 30, 1983 (Note 1)
County
Funds
3097-05
Phase III
$ 5,587,050
10,445,579
13,045,494
$ 2,987,135
See accompanying accountants' report and 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, 1983
BALANCE IN RESERVE - July 1, 1982 $ 146,428
ADD: CONTRIBUTIONS FROM PARTICIPANTS 484,000
LESS: NON-GRANT FUNDED PROJECT EXPENSES:
Phase III - A (Note 3) $ 431,718
Waiver application 48,250 479,968
BALANCE IN RESERVE - June 30, 1983 (Note 1) $ 150,460
* X
See accompanying accountants' report and notes to financial schedules.
ENCINA WATER POLLUTION CONTROL FACILITY
NOTES TO FINANCIAL SCHEDULES
June 30, 1983
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 establish-
ment, construction, operation and maintenance of facilities for the trans-
mission, treatment and disposal of sewage which facilities shall comprise
a single system of sanitation works.
By virtue of subsequent amendments and supplements to this basic agreement,
Leucadia Gouty Water District, Buena Vista Sanitation District, San Marcos
County Water District, and Encinitas Sanitary District also have become
participants in the Facility.
As of July 1, 1979, Leucadia County Water District became the operator and
administrator of the Facility and is responsible for the management,
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 par-
ticipants, 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, studies for the Ocean Waiver Appli-
cation, Solids Disposal Outfall Pump and Outfall Diffuser Projects. Costs
will be allocated based on ownership in Unit I after Phase III-A enlarge-
ment (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.
ENCINA WATER POLLUTION CONTROL FACILITY
NOTES TO FINANCIAL SCHEDULES
(Continued)
June 30, 1983
3. PLANT AND EQUIPMENT:
Additions to plant and equipment consist of the following during the year
ended June 30, 1983:
Balance Deletions Balance
July 1, 1982 Additions and Transfers June 30, 1983
System/units $ 7,039,946 $ 349,692 $ 6,690,254
Office equipment
and furnishings 46,064 $ 2,865 48,929
Plant equipment 94,920 51,839 500 146,259
Encina plant
projects 206,524 206,524
Phase III:
Operations
building 1,541,698 1,541,698
Secondary
treatment
facility 14,192,568 14,192,568
Construction in
Progress:
Phase III 43,363,534 10,977,476 15,734,266 38,606,744
Phase III-A 22,279 431,718 453,997
TOTALS $ 50,773,267 $ 27,198,164 $ 16,084,458 $ 61,886,973
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, and each of the participants
shall have ownership and capacity rights in Unit I and Unit J as follows:
UNIT I
After Phase
Participant
Vista
Carlsbad
Buena
San Marcos
Leucadia
Encinitas
TOTALS
MGD
5
4
0
3
3
1
18
.40
.56
.82
.22
.00
.00
.00
III Enlargement After Phase III-A Enlargemei
Percentage
30,
25,
4.
17.
16.
5,
100.
.00
.33
.55
.89
.67
.56
,00
MGD Percenta<
6
5
1
4
3
1
22
.750
.716
.034
.000
.750
.250
.50
30
25
4
17
16
5
100
.00
.40
.59
.78
.67
.56
.00
See accompanying accountants' report.
8
ENCINA WATER POLLUTION CONTROL FACILITY
NOTES TO FINANCIAL SCHEDULES
(Continued)
June 30, 1983
PLANT AND EQUIPMENT (Continued):
Construction in Progress (Continued):
UNIT J
Participant
Vista
Carlsbad
Buena
San Marcos
Leucadia
Encinitas
TOTALS
MGD
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.
SEWAGE FLOW ALLOCATION:
Sewage flow allocations for the year ended June 30, 1983 are as follows:
Units
*MGD Units D,E,F,G,H I, J and
ADF & Vista Meter Stations Administrative
Vista Sanitation
District (Note 6) 4.01
City of Carlsbad (Note 6) 3.09
Buena Sanitation District .67
San Marcos County Water
District 3.11
Leucadia County Water
District 2.88
Encinitas Sanitary
District 1 .54
TOTALS 14.30
56.4
43.6
100.0%
28.0
21.6
4.7
21.8
20.1
3.8
100.0%
*Millions of Gallons per day (MGD) and Average Daily Flow (ADF).
See dccompanying ciccountant s' report.
ENCINA WATER POLLUTION CONTROL FACILITY
NOTES TO FINANCIAL SCHEDULES
(Continued)
June 30, 1983
5. PUBLIC EMPLOYEES RETIREMENT SYSTEM:
The Facility is a participant in the Public Employees Retirement System
(PERS) of the State of California covering all the Facility's permanent
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, 1983 was $ 63,608. Actuarial information related to the
plan was not available from PERS at June 30, 1983. However, at June 30,
1982, the plan net assets available for benefits totalled $ 195,718, and
the present value of the Facility's and Leucadia County Water District's
employees unfunded obligation for prior service costs totalled $ 259,813,
which amount will be funded through the year 2000 from established con-
tribution rates. The actuarial present valued of vested and non-vested
accumulated plan benefits is not determined under PERS system of account-
ing. Because Encina employees are combined with the Leucadia County Water
District's employees under the plan, Encina's portion of the total unfunded
retirement benefits is undeterminable at this time.
6. CONTINGENCY
Starting in March 1983 management estimates that Vista's flow meter may
have been off by up to 10% based upon the results generated by a new
method of calibration. Some adjustment (decrease) to Vista's flows may be
necessary in light of this new information but additional testing and
calibrating is needed before an accurate amount can be determined. Any
decrease in Vista's flows would result in a corresponding increase in
Carlsbad's flows due to the nature of the metering method. The actual
amount of the adjustment, if any, is indeterminable at this time.
See accompanying accountants' report.
10
PARKING AUTHORITY OF THE CITY OF CARLSBAD
FINANCIAL STATEMENTS
WITH REPORT ON EXAMINATION BY CERTIFIED PUBLIC ACCOUNTANTS
June 30, 1983
DIEHL. EVANS AND COMPANY
A PARTNERSHIP OF ACCOUNTANCY CORPORATIONS
CERTIFIED PUBLIC ACCOUNTANTS
2965 ROOSEVELT STREET
CARLSBAD. CALIFORNIA
PARKING AUTHORITY OF THE CITY OF CARLSBAD
FINANCIAL STATEMENTS
WITH REPORT ON EXAMINATION BY CERTIFIED PUBLIC ACCOUNTANTS
June 30, 1983
f
PARKING AUTHORITY OF THE CITY OF CARLSBAD
Table of Contents
June 30, 1983
Page
Number
Accountants' Report 1
Combined Balance Sheet - All Governmental Fund Types
and Account Group 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. DIEHL, C.RA. (1925-1956)
BRYN B. EVANS, C.P.A.
PHILIP H. HOLTKAMP, C.P.A.
THOMAS M. PERLOWSKI, C.P.A.
WIN G. PETERS. C.P.A.
DONALD H. PETERSON. C.P.A.
DONALD E. CALLAHAN, C.P.A.
L. PETER SCHERER. C.P.A.
RODNEY K. McDANIEL, C.P.A.
RALPH H. WEINTRAUB, C.P.A.
DIEHL, EVANS AND COMPANY
A PARTNERSHIP OF ACCOUNTANCY CORPORATIONS
CERTIFIED PUBLIC ACCOUNTANTS
I2O WEST WOODWARD AVENUE
ESCONDIDO, CALIFORNIA 9aO2S-999O
(619) 741-3141
August 16, 1983
OTHER OFFICES AT'.
2965 ROOSEVELT STREET
CARLSBAD. CALIFORNIA 92OO8-23S9
1619) 739-2343
I9JO NORTH BUSH STREET
SANTA ANA, CALIFORNIA 93706-3894
(7141 542-4453
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,
1983, 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 Parking Authority of the City
of Carlsbad and the results of its operations and changes in fund balance
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 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 GROUP
June 30, 1983
ASSETS:
Cash and savings held by
trustee
Time certificates of
deposit
U.S. Government securities,
at 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
Service
Working
Capital Reserve
$ 85,708 $ 3,000 $ 12,051
661,000
237,952
14,976
34,320
242,699
3,570
Account
Group
Lease
Payments
Receivable
And Bonds
Payable
$ 1,033,956 $ 3,000 $ 258,320
$ 4,541,781
(1.916,781)
$ 2,625,000
Totals
(Memorandum
Only)
$ 100,759
661,000
480,651
18,546
34,320
4,541,781
(1,916,781)
$ 3,920,276
LIABILITIES AND FUND BALANCE
LIABILITIES:
Revenue bonds payable
(Note 3)
Due to other funds
Deferred revenue
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
$ 78,100
78,100
224,194
731,662
955,856
$ 3,000
3,000
$ 34,320
34,320
224,000
224,000
$ 2,625,000
2.625.000
$ 1.033.956 $ 3.0001 $ 258.320 .$ 2.625.000
See accompanying accountants' report and notes to financial statements.
2
$ 2,625,000
34,320
78,100
2,737,420
448,194
3,000
731,662
1,182,856
$ 3.920.276
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, 1983
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 payments received - principal
Bonds paid
Operating transfers in
Operating transfers out
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUE
AND OTHER FINANCING SOURCES
OVER EXPENDITURES AND OTHER
FINANCING USES
FUND BALANCE, July 1, 1982
FUND BALANCE, June 30, 1983
Bond
Service
$ 193,150
91,698
284,848
193,150
193,150
91,698
119,250
(50,000)
21,136
90,386
182,084
773,772
$ 955.856
Working
Capital Reserve
2,272
3,000
23,408
$ 2,272
2,272
(2,272) 23,408
(23,408)
2,272 (23,408)
224,000
Totals
(Memorandum
Only)
$ 193,150
$ 23,408 115,106
308,256
193,150
2,272
195,422
112,834
119,250
(50,000)
23,408
(23,408)
69,250
182,084
1,000,772
$ 224.000 $ 1.182.856
See accompanying accountants' report and notes to financial statements.
3
PARKING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
June 30, 1983
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, 1983:
Parking Revenue Bonds
1969 1981 Total
Revenue bonds payable,
June 30, 1982 $ 1,175,000 $ 1,500,000 $ 2,675,000
Bonds retired 50,000 50,000
Revenue bonds payable,
June 30, 1983 $ 1,125,000 $ 1,500,000 $ 2,625,000
See accompanying accountants' report.
PARKING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1983
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 1983-84.
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 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, 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
may be used to reimburse the City for rental payments previously paid.
See accompanying accountants' report.
PARKING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1983
4. DESCRIPTION OF FUNDS (Continued):
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.
WORKING CAPITAL FUND
1969 Parking Reveue 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
$ 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
$ 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.
See accompanying accountants' report.
PARKING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1983
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
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 $ 156,000 shall be transferred to the Bond Service Fund.
5. TOTAL COLUMNS:
Total columns on the Combined Statements are captioned Memorandum Only
to indicate that they are presented only to facilitate financial analy-
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
PARKING AUTHORITY OF THE CITY OF CARLSBAD
COMBINING BALANCE SHEET
ALL GOVERNMENTAL FUND TYPES
June 30, 1983
BOND SERVICE FUND
ASSETS:
Cash and investments held by trustee
Time certificates of deposit
U.S. Government securities, at cost
Accrued interest receivable
Due from other funds
TOTAL ASSETS
WORKING CAPITAL FUND
PARKING REVENUE BONDS
1969 1981 Totals
$ 1,500 $ 1,500 $ 3,000
RESERVE FUND
PARKING REVENUE BONDS
1969 1981 Totals
$ 1,747
91,761
1,995
$ 10,304
150,938
1,575
$ 162.817
$ 12,051
242,699
3,570
$ 258.320
LIABILITIES AND FUND BALANCE
LIABILITIES:
Due to other funds
Deferred revenue
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
$ 27,503 $ 6,817 $ 34,320
34,600
224,194
600,429
824,623
$ 859.223
43,500 78,100
224,194
$ 1,500 $ 1,500 $ 3,000
131,233 731,662
131,233 955,856 1,500 1,500 3,000
$ 174.733 $ 1.033.956 $ 1.500 $ 1.500 $ 3,000
27,503 6,817 34,320
68,000 156,000 224,000
68,000 156,000 224,000
$ 95,503 $ 162,817 $ 258,320
See accompanying accountants' report and notes to financial statements.
8
PARKING AUTHORITY OF THE CITY OF CARLSBAD
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUND TYPES
For the fiscal year ended June 30, 1983
BOND SERVICE FUND WORKING CAPITAL FUND RESERVE FUND
REVENUE:
Lease payments - finance charges
Interest income
TOTAL REVENUE
EXPENDITURES:
Interest
Administrative expense
TOTAL EXPENDITURES
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES):
Lease payments received - principal
Bonds paid
Operating transfers in
Operating transfers out
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES
AND OTHER FINANCING SOURCES OVER
EXPENDITURES AND OTHER FINANCING
USES
FUND BALANCE, July 1, 1982
FUND BALANCE, June 30, 1983
PARKING REVENUE
1969 1981
$ 73,150
81,414
154,564
73,150
73,150
81,414
65,250
(50,000)
8,060
23,310
104,724
719,899
$ 824.623
$ 120,000
10,284
130,284
120,000
120,000
10,284
54,000
13,076
67,076
77,360
53,873
$ 131,233
BONDS
Totals
193,150
91,698
284,848
193,150
193,150
91,698
119,250
(50,000)
21,136
90,386
182,084
773,772
$ 955_._85_6.
PARKING REVENUE BONDS
1969 1981 Totals
$ 937 $ 1,335 $ 2,272
937 1,335 2,272
(937) (1,335) (2,272)
937 1,135 2,272
937 1,335 2,272
1,500 1,500 3,000
$ 1.500 $ 1.500 $ 3.000
PARKING REVENUE BONDS
1969 1981 Totals
$ 8,997 $ 14,411
8,997
8,997
(8,997)
(8,997)
68,000
14,411
14,411
(14,411)
(14,411)
156,000
$ 23,408
23,408
23,408
(23,408)
(23,408)
224,000
68.000 $ 156.000 $ 224.000
See accompanying accountants' report and notes to financial statements.
9
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
FINANCIAL STATEMENTS
WITH REPORT ON EXAMINATION BY CERTIFIED PUBLIC ACCOUNTANTS
June 30, 1983
DIEHL. EVANS AND COMPANY
A PARTNERSHIP OF ACCOUNTANCY CORPORATIONS
CERTIFIED PUBLIC ACCOUNTANTS
2965 ROOSEVELT STREET
CARLSBAD. CALIFORNIA
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
FINANCIAL STATEMENTS
WITH REPORT ON EXAMINATION BY CERTIFIED PUBLIC ACCOUNTANTS
June 30, 1983
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
Table of Contents
June 30, 1983
Page
Number
Accountants' Report 1
Combined Balance Sheet - All Governmental Fund Types
and Account Group 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 Sheet - All Debt Service Funds 8
Combining Statement of Revenues, Expenditures and Changes
in Fund Balance - All Debt Service Funds 9
ELLIS C. DIEHL, C.RA. (1925-1956)
BRYN B. EVANS. C.RA.
PHILIP H. HOLTKAMP, C.P.A.
THOMAS M. PERLOWSKI. C.P.A.
WIN G. PETERS, C.RA.
DONALD H. PETERSON, C.RA.
DONALD E. CALLAHAN, C.P.A.
L. PETER SCHERER, C.P.A.
RODNEY K. McOANIEL. C.RA.
RALPH H. WEINTRAUB, C.P.A.
DIEHL, EVANS AND COMPANY
A PARTNERSHIP OF ACCOUNTANCY CORPORATIONS
CERTIFIED PUBLIC ACCOUNTANTS
I2O WEST WOODWARD AVENUE
ESCONDIDO. CALIFORNIA 92O25-999O
(619) 741-3141
August 16, 1983
OTHER OFFICES AT:
2965 ROOSEVELT STREET
CARLSBAD, CALIFORNIA 92OO8-a389
(6191 729-2343
I91O NORTH BUSH STREET
SANTA ANA, CALIFORNIA 927O6-3S94
(7141 542-4453
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,
1983, 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 at June 30, 1983 and the results of its operations and changes
in fund balance 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, 1983
ASSETS:
Cash and savings held by
trustee
U.S. Government securities, at
cost, (approximates market)
Due from other funds
Lease payments receivable
(Note Ib)
Unearned lease finance charges
TOTAL ASSETS
Governmental Fund Types
Working Debt
Revenue Capital Service
$ 2,473 $ 1,510 $ 22,975
43,057 33,490
2,636
Account Group
Lease
Payments
Receivable
And Bonds
Payable
$ 344,900
(84,900)
Totals
(Memorandum Only)
1983 1982
$ 26,958 $ 9,261
76,547
2,636
51,599
36,420
344,900 381,100
(84,900) (101,100)
$ 48,166 $ 1,510 $ 56,465 $ 260,000 $ 366,141 $ 377,280
LIABILITIES AND FUND BALANCE
LIABILITIES:
Revenue bonds payable (Note 3)
Due to other funds
Deferred revenue
TOTAL LIABILITIES
$ 36,000
36,000
$ 2,636
2,636
$ 260,000
260,000
$ 260,000 $ 280,000
2,636 36,420
36,000
298,636 316,420
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
12,166
12,166
$ 1,500
10
1,510
53,725
104
53,829
53,725
1,500
12,280
67,505
54,925
1,500
4,435
60,860
48.166 $ 1.510 $ 56.465 $ 260.000
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 BALANCE - ALL GOVERNMENTAL FUND TYPES
For the fiscal year ended June 30, 1983
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 payments 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, July 1, 1982
FUND BALANCE, June 30, 1983
Working
Revenue Capital
$ 16,200-
3,992. $ 60
20,192
20,192
19,800 '
2,142
(34,403)
(12,461)
7,731
60
903
903
(843)
853
853
10
4,435 1,500
Debt
Service
Totals
(Memorandum Only)
1983 1982
$ 3,696
3,696
16,200
16,200
(12,504) \
-$ 16,200 J $ 17,400
7,748 * 9,791
(20,000)
33,550 •
(2,142)
11.408
(1.096)
54,925
$ 12,166 $ 1,510 $ 53,829
\
23,948-
16,200
903
17,103
6,845
19,800,
6,645
60,860
27,191
17,400
793
18,193
8,998
18,600
(20,000). (20,000)
36,545 ' 39,036
(36.545)1 (39,036)
(200) (1,400)
7,598
53,262
$ 67,505 $ 60,860
See 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, 1983
BALANCE AT JULY 1, 1982 $ 280,000
Payments made 20,000
BALANCE AT JUNE 30, 1983 $ 260,000
See accompanying accountants' report and notes to financial statements.
* • ,
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
June 30, 1983
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 has 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, 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 taxes, assessments,
insurance premiums and administrative costs of the Authority.
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 1983-84.
See accompanying accountants' report.
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1983
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 100.75%
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, 1983 includes:
Type of Coverage
All risk including valuable
papers and rental
Equipment floater
Excess liability
Excess workers compensation
Earthquake
Boiler and machinery
Comprehensive crime
General and auto liability
Amount
$ 11,496,730
559,850
19,000,000
10,000,000
300,000
1,000,000
500,000
1,000,000
Term
12/1/82
12/1/82
3/16/83
7/1/82
9/22/82
12/20/82
4/16/83
3/16/83
to 12/1/83
to 12/1/83
to 3/16/84
to 7/1/83
to 12/1/83
to 12/20/83
to 4/16/84
to 3/16/84
See accompanying accountants' report.
*
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1983
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 operat-
ions , 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 aggregation of this data.
See accompanying accountants' report.
f
SUPPLEMENTARY INFORMATION
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
COMBINING BALANCE SHEET
ALL DEBT SERVICE FUNDS
June 30, 1983
Totals
ASSETS
Cash and savings held by trustee
U.S. Government securities,
at cost
Due from Revenue Fund
TOTAL ASSETS
Interest Retirement Reserve 1983
$ 741
14,353
$ 873 $ 21,361
19,137
$ 22,975
33,490
1982
$ 4,779
18,763
33,180
$ 15,094 $ 20,010 $ 21,361 $ 56,465 $ 56,722
LIABILITIES
Due to Revenue Funds $ 2,636 $ 2,636 $ 1,797
FUND BALANCE (Note 4):
Reserved for payment of bond
principal and interest
Unreserved
TOTAL FUND BALANCE
TOTAL LIABILITIES AND
FUND BALANCE
$ 15,000 $ 20,000 18,725 53,725 54,925
94 10 104
15,094 20,010 18,725 53,829 54,925
15.094 20.010 $ 21.361 $ 56.465 $ 56.722
See accompanying accountants' report and notes to financial statements.
8
BUILDING AUTHORITY OF THE CITY OF CARLSBAD
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE - ALL DEBT SERVICE FUNDS
For the fiscal year ended June 30, 1983
REVENUE:
Interest on investments
TOTAL REVENUE
Interest Retirement Reserve
$ 799 $ 755 $ 2,142
799 755 2,142
Totals
1983 1982
3,696 $ 5,611
3,696 5,611
EXPENDITURES:
Interest 16,200 16,200 17,400
EXCESS (DEFICIENCY) OF
REVENUE OVER EXPENDITURES (15,401)
OTHER FINANCING SOURCES (USES):
Bonds paid
Operating transfers in 14,295
Operating transfers out
TOTAL OTHER FINANCING
SOURCES (USES) 14,295
755 2,142 (12,504) (11,789)
(20,000)
19,255
(20,000)
33,550
(2,142) (2,142)
(20,000)
33,180
(4,413)
(745) (2,142) 11,408 8,767
EXCESS (DEFICIENCY) OF REVENUE
AND OTHER SOURCES OVER EXPEN-
DITURES AND OTHER USES (1,106)10 (1,096) (3,022)
FUND BALANCE, July 1, 1982
FUND BALANCE, June 30, 1983
16,200 20,000 18,725 54,925 57,947
See accompanying accountants' report and notes to financial statements.
9