HomeMy WebLinkAbout; ; 1990-1991CAFR; 1991-06-30Comprehensive
Annual Financial Report
for the fiscal year ending JUNE 30, 1991
CITY OF CARLSBAD • CALIFORNIA
MAYOR
Claude "Bud" Lewis
MAYOR PRO TEM
Ann Kulchin
CITY COUNCIL
Eric Larson • Julianne Nygaard
Margaret Stanton
CITY MANAGER
Raymond R. Patchett
FINANCIAL MANAGEMENT DIRECTOR
James F. Elliott
Prepared by the Finance Department
Introductory Section
CITY OF CARLSBAD
Comprehensive Annual Financial Report
Year ended June 30, 1991
TABLE OF CONTENTS
INTRODUCTORY SECTION PAGE
Table of Contents i
Letter of Transmittal 1
Location Map 21
Certificate of Achievement for Excellence in Financial
Reporting, Government Finance Officers Association 22
Certificate of Award for Outstanding Financial Reporting,
California Society of Municipal Finance Officers 23
List of City Officials 25
Organization Chart 26-27
FINANCIAL SECTION
Independent Auditors' Report 29
General Purpose Financial Statements:
Combined Balance Sheet - All Fund Types and Account Groups 30
Combined Statement of Revenues, Expenditures,
and Changes in Fund Balance - All Governmental Fund Types 36
Combined Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual
(Budgetary Basis) All Governmental Fund Types 38
Combined Statement of Revenues, Expenses, and
Changes in Retained Earnings - All Proprietary Fund Types 42
Combined Statement of Cash Flows - All Proprietary Fund Types 44
Notes to Combined Financial Statements 46
CITY OF CARLSBAD
Comprehensive Annual Financial Report
Year ended June 30, 1991
TABLE OF CONTENTS. CONTINUED
FINANCIAL SECTION. Continued
Supplemental Data: PAGE
Governmental Funds:
General Fund:
Schedule of Revenues - Budget and Actual (Budgetary Basis) 82
Schedule of Expenditures - Budget and Actual (Budgetary Basis) 84
Special Revenue Funds:
Combining Balance Sheet 88
Combining Statement of Revenues, Expenditures,
and Changes in Fund Balance 92
Combining Schedule of Revenues and Expenditures -
Budget and Actual (Budgetary Basis) 96
Debt Service Funds:
Combining Balance Sheet 106
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance 108
Combining Schedule of Revenues and Expenditures -
Budget and Actual (Budgetary Basis) 110
Capital Project Funds:
Combining Balance Sheet 116
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance 122
Proprietary Funds:
Enterprise Funds:
Combining Balance Sheet 130
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings 134
Combining Statement of Cash Flows 136
ii
CITY OF CARLSBAD
Comprehensive Annual Financial Report
Year ended June 30, 1991
TABLE OF CONTENTS. CONTINUED
FINANCIAL SECTION, Continued
Supplemental Data, Continued: PAGE
Enterprise Funds Continued:
Sewer Sub-Funds:
Combining Balance Sheet 140
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings 142
Internal Service Funds:
Combining Balance Sheet 144
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings 146
Combining Statement of Cash Flows 148
Fiduciary Funds:
Agency Funds:
Combining Statement of Changes in Assets and Liabilities 152
Account Groups:
General Fixed Asset Account Group:
Schedule of General Fixed Assets by Function 155
Schedule of General Fixed Assets by Source 156
Annual Debt Service Requirements 159
STATISTICAL INFORMATION
(Not Covered by Independent Auditors' Report)
General Expenditures by Function, Last Ten Fiscal Years 168
General Revenues by Source, Last Ten Fiscal Years 170
iii
CITY OF CARLSBAD
Comprehensive Annual Financial Report
Year ended June 30, 1991
TABLE OF CONTENTS. CONTINUED
STATISTICAL INFORMATION, Continued PAGE
Ratio of General Bonded Debt to Assessed Valuation and
Net Bonded Debt Per Capita, Last Ten Fiscal Years 172
Computation of Legal Debt Margin 173
Schedule of Direct and Overlapping Bonded Debt 174
Ratio of Annual Debt Service for General Bonded Debt to
Total Governmental Expenditures, Last Ten Fiscal Years 175
Revenue Bond Coverage - Water Bonds, Last Ten Fiscal Years 176
Demographic Statistics, Last Ten Fiscal Years 178
Schedule of Assessed Valuation, Last Ten Fiscal Years 180
Construction and Business Activity, Last Ten Fiscal Years 182
Property Tax Levies and Collections, Last Ten Fiscal Years 183
Special Assessment Billings and Collections, College
Boulevard Assessment District, Last Five Fiscal Years 184
Principal Employers, 1990-1991 185
Principal Taxpayers, 1990-1991 186
Miscellaneous Statistical Information 187
IV
City of Carlsbad
a^ ••^•^•••^^••^•••^•"^•••••MVMiMFinance Department
November 22, 1991
Honorable Mayor, City Council,
and City Manager
CITY OF CARLSBAD
Carlsbad, California
We are pleased to present the 1990-91 Comprehensive Annual Financial Report of the City
of Carlsbad to the City Council and the City Manager. This report includes financial
statements of the City, the Housing Authority of the City of Carlsbad, the Parking and
Building Authorities of the City of Carlsbad, the Carlsbad Public Improvement Corporation,
the Carlsbad Redevelopment Agency and the Carlsbad Municipal Water District, as well as
the opinion of our independent auditors, KPMG Peat Marwick. The completion of this
independent audit is an important part of the total financial management program for the
City of Carlsbad.
The information found in this report is provided by management to the Council and public
to assist those interested in understanding the fiscal condition of the City as of June 30,
1991. Responsibility for both the accuracy of the data, and the completeness and fairness
of the presentation, including all disclosures, rests with the City. To the best of our
knowledge and belief, the enclosed data are accurate in all material respects and are
reported in a manner designed to present fairly the financial position and results of
operations of the various funds and account groups of the City of Carlsbad. All disclosures
necessary to enable the reader to gain an understanding of the government's financial
activities have been included.
Background
Carlsbad is located about 35 miles north of the City of San Diego on the Southern
California coast. The City is governed by a five member City Council under the
Council/Manager form of government. Carlsbad is a general law city incorporated in 1952.
The City covers about 42 square miles and has a population of 64,264. Industries in the
area include a major regional shopping center, 18 auto dealers, 24 hotels offering 1,884
rooms for tourist lodging, aerospace manufacturing, electronics, several business and light
industry parks, and numerous land developers building single and multi-family housing in
a variety of community settings.
1
12OO Carlsbad Village Drive • Carlsbad, California 92OO8-1989 • (619) 434-2867
Services Provided by the City
The City provides the full range of services normally associated with a municipality
including police, fire, parks and recreation, library, planning and zoning, building and
engineering, various maintenance services and administration. The City provides water
services through the combined efforts of the City Water Utility Enterprise operation and
the Carlsbad Municipal Water District, a subsidiary district of the City. Solid waste
collection is provided through a franchise arrangement with a local refuse collection
service.
In addition to the usual city services, Carlsbad offers a variety of programs to help local
residents and businesses. The City operates a redevelopment agency that encompasses 0.4
square miles of the downtown area, as well as a housing authority that provides 371 low
and moderate income families with housing assistance. The City's literacy program, funded
by the General Fund, provides adult education to local area residents. Carlsbad's older
residents receive assistance through the City's senior citizen programs. Also, the City
provides major support for the Convention and Visitors Bureau operated in cooperation
with the Carlsbad Chamber of Commerce. The City supports various service agencies such
as the Women's Resource Center, YMCA and other agencies providing social services to
Carlsbad residents. Finally, the City has reserved over $320,000 for support of the arts,
art programs, and the purchase of works of art.
Significant Events and Accomplishments
During 1990-91 the City experienced many significant events or accomplishments that may
not be evident from a review of the financial statements. Some of the more important
events are summarized below.
Growth Control - 1990-91 was the fourth full year of operation under the City's Growth
Management Program. Under this program developers are allowed to build only if
infrastructure improvements required to serve the development are financed and
constructed as a part of the development. Standards have been established in eleven areas
such as circulation, libraries, fire protection, parks, drainage, water, sewers, and open
space. An outgrowth of this program is a long range capital improvement program which
covers the current year through build out of the City. This program has had a major effect
on the building industry as shown in the table below:
DWELLING UNITS
Fiscal Year Constructed
1985-86 2,273
1986-87 2,310
1987-88 1,672
1988-89 525
1989-90 353
1990-91 322
The most significant aspect of growth management for 1990-91 was the implementation
of the comprehensive Growth Management Financing Program. This program combines
the infrastructure funding needs of the City and other agencies, such as schools, together
with the needs of development to fund public purpose projects. The coordinated effort
depends on the rational use of a Mello-Roos Community Facilities District, 1913/1915 Act
Assessment Districts and fee programs to finance facilities concurrent with demand without
overburdening the land or home owner.
Community Facility District No. 1 - In May 1991, the citywide Community Facilities District
No. 1 (CFD) was approved by over 94% of district property owners. Only vacant land is
included in the City's first Mello-Roos district. The CFD will be used to fund a wide variety
of public improvements including civic facilities, freeway interchanges and major road
additions or improvements, previously funded on a pay-as-you-go basis by developer fees.
It will now be possible to fund these improvements with a series of bond sales. As
development occurs for residential property, the Mello-Roos obligation must be paid in full
by the developer when a building permit is given. Pass-through of the CFD tax is only
allowed on property developed for non-residential or commercial/industrial purposes.
Construction of Capital Projects - The City continued its aggressive building program during
1990-91 with an outlay of more than $27 million on a variety of projects. During the last
seven years, Carlsbad expended more than $108 million in capital projects including
community parks, a senior center, a civic facility for police and fire, fire stations, main
library, major streets, and sea wall and bluff protection. This dedication to improving the
infrastructure of the City is expected to continue into the foreseeable future as the City
implements its long range capital improvement program.
Habitat Management Plan (HMP) - The City led the state in early recognition of our
natural resources when City Council approved a program for studying and identifying the
City's biological resources and preparing a Habitat Management Plan within the City. The
HMP will provide policies and mechanisms for the protection of wildlife habitat, especially
the habitat of endangered, threatened, or sensitive species. The final plan is expected to
lead to application for a Habitat Conservation Plan under the federal Endangered Species
Act.
Hiring Center - In answer to citizen concerns and to create employment opportunities, the
City funded a Hiring Center in the geographic center of the City. Documented workers are
encouraged to seek employment at the facility, employees are screened and matched with
prospective employers.
Financial Statement Format
This report is designed to provide both summarized and detailed information on the
operation of each of the City's funds. The report is organized as follows:
Financial Section - This section contains the combined or summarized
financial statements for all funds as well as the notes to
the financial statements.
Supplemental Data - This section provides more detailed information on the
activity within each fund including revenues, expendi-
tures, changes in fund balances, comparisons to budget
figures and other related data.
Statistical Information - This section provides data on the City's fiscal activity
over the past ten years including revenues,
expenditures, debt, assessed value, and demographic
information.
Accounting System and Budgetary Control
The City's accounting system is designed around a few basic principles.
(1) The City is not one single entity. It is the total of many entities, each with its
separate function and legal restrictions on the use of resources. In the private
sector, a corporation may have many "subsidiaries" which make up the parent
corporation. In the public sector, a city government may have a variety of "funds"
that provide the basis for separately recording the financial data related to a specific
activity. A fund is an accounting entity with a complete set of self-balancing
accounting records. Each fund has been established because of some restriction on
the use of resources received by that fund. This report includes the transactions of
all entities over which the City Council of the City of Carlsbad has authority (as
defined by the Governmental Accounting Standards Board).
(2) The City's accounting system operates on a modified accrual basis for all
governmental and agency type funds. Governmental funds include the General,
Special Revenue, Debt Service and Capital Projects Funds. A modified accrual
system is one where a) revenues are recorded when received in cash; b) revenues
are accrued when they are both measurable and collectable within the accounting
period or soon enough after the end of the period to pay liabilities of the period;
and c) expenditures, other than interest or long term debt, are recorded when
liabilities are incurred.
(3) The proprietary fund types (the Enterprise and Internal Service Funds) use the
accrual method of accounting. Revenues and expenses are recorded when earned
or incurred, respectively.
(4) Internal controls exist within the accounting system to erlSure safety of assets from
misappropriation, unauthorized use or disposition, and to maintain the accuracy of
financial recordkeeping. These internal controls must be established consistent with
sound management practices based on the cost/benefit of the controls imposed. The
cost of a control should not be excessive in relation to its benefit as viewed by City
management. The internal controls in existence within the City's system are
sufficient to ensure in all material aspects both the safety of the City's assets and the
accuracy of the financial recordkeeping system.
(5) Budgetary control is maintained through monthly reports on all revenue and
expenditure accounts as well as special reports summarizing the financial position
of the City. The City Council has the authority to control the budget through
adoption of a formal budget at the beginning of each year and by amending the
budget as necessary through the year. Expenditures should not exceed budgeted
figures. All appropriations expire at year end unless specifically carried into the new
fiscal year by Council action. The Carlsbad Municipal Code requires that the
Financial Management Director annually prepare a budget for the City Manager
showing estimated revenues and expenditures.
Total City Operations
During 1990-91 the City staff of 482 full-time employees provided a complete range of City
services to the 64,264 residents and many businesses in Carlsbad. Spending on all City
programs totaled $91.9 million, an increase of $19.7 million over 1989-90. This rise is
primarily due to an increase of $15.7 million on capital projects and higher General Fund
expenditures of $3.2 million.
Revenues for 1990-91 totaled $98.9 million, an increase of about $20.8 million or 26.6%
over last year's total of $78.2 million. This increase is directly linked to several factors
including: the sale of assessment district bonds for a major road improvement, a continued
increase in the City's property tax base, higher collections of special benefit district charges
for lighting and landscaping, and higher charges from internal service funds to the user
departments.
Carlsbad is entering 1991-92 in a fiscally sound position due to the City Council's actions
anticipating the continuing low level of development activity caused by implementation of
the Growth Management program in 1987-88. The general outlook for the next five years
is promising with a growing tax base providing the financing required to meet the demand
for services. The City embarked on an aggressive fiscal analysis of the General Plan during
1990-91. The program will provide a tool to evaluate financial implications of current and
future City policies and decisions.
The following report summarizes the revenues and expenditures (or expenses) for the City
of Carlsbad for the fiscal year ended June 30, 1991.
(1)Includes operating and non-operating expenses
— Revenue from All Fund Types
(In thousands)
1990-91 over %
1990-91 1989-90 (under) 1989-90 Change
General Fund $40,535 $39,313 $ 1,222 3.1%
Special Revenue Funds 4,490 3,576 914
Debt Service Funds 1,228 1,485 (257)
Capital Projects Funds 31,118 13,597 17,521
Enterprise Funds1 15,442 14,514 928
Internal Service Funds1 6.137 5.689 448
TOTAL REVENUES $98.950 $78.174 $20.776
(1) Includes operating and non-operating revenues
Expenditures Cor Expenses') All Fund Types
(In thousands)
1990-91 over %
1990-91 1989-90 (under) 1989-90 Change
General Fund $38,356 $35,180 $3,176 9.0%
Special Revenue Funds 3,675 3,120 555 17.8
Debt Service Funds 3,471 3,076 395 12.8
Capital Projects Funds 27,497 11,758 15,739 133.9
Enterprise Funds1 13,435 13,681 (246) (1.8)
Internal Service Funds1 5.441 5.323 118 2.2
TOTAL EXPENDITURES $91.875 $72.138 $ 19.737 27.4%
General Governmental Functions
The General Governmental function includes the operations of the General, Special
Revenue, Debt Service and Capital Projects funds. During 1990-91 revenue from all
Governmental funds totaled $77 million, an increase of $19 million over 1989-90;
expenditures totaled $73 million, up $20 million from last year. A brief look at these
numbers on a fund-by-fund basis is shown below.
General Fund v""*'
The City's General Fund is used to record all revenues and expenditures not specifically
restricted by law or Council policy. Major sources of revenue include property tax, sales
tax, licenses and permits, and charges for services. Major categories of expenditures
include police and fire services, libraries, parks, street maintenance, and administrative
functions.
In 1990-91, the City of Carlsbad experienced less growth in revenues than originally
budgeted. The state-wide drought, national recession and the Persian Gulf war combined
to reduce projected City revenues. In spite of the bleak economy, General Fund revenues
for 1990-91 totaled $40.5 million, up $1.2 million or about 3% over the 1989-90 revenue
of $39.3 million. This change is due primarily to the following factors.
Property Tax Revenue - $12.7 million
Property tax increased $1.2 million or 10% over 1989-90 due to a continued
increase in the secured property tax base. Although the rate of development
has slowed from that experienced prior to growth management, the value of
new construction and resales remained high. Total assessed valuation rose from
$4.9 billion in 1989-90 to $5.6 billion in 1990-91, a 14% increase.
Sales Tax Revenue - $9.4 million
Sales tax revenue remained essentially unchanged from 1989-90. Revenues
increased $84,000 or less than 1% during 1990-91. Although building
materials, automobile, and shopping mall sales were less than anticipated, the
rapidly expanding population in San Diego North County continued to fuel the
demand for food, apparel and other related services.
Vehicle License Fee Revenue - $2.2 million
Vehicle license fee revenue increased $69,000 or 3.3% during 1990-91. The
vehicle license fee is set and collected by the State Department of Motor
Vehicles.
Transient Occupancy Tax Revenue - $3.3 million
Transient occupancy tax (hotel room tax) revenues declined by $320,000 in
1990-91, down 8.8%. The decrease is attributable to later receipt of 1988-89
TOT, resulting in higher TOT revenues for 1989-90.
Development Related Revenues - $3.3 million
In spite of slowing construction activity caused by the Growth Management
Program and the declining construction economy, the development community
continues to process plans and applications in anticipation of meeting the
growth management standards in the future. Revenue in 1990-91 from
development related fees and permits totals $3.3 million, down $1.2 million or
26% from last year. The primary decline in development related revenues were
in construction permits, and inspection and planning fees.
Interest Incomt - $2.2 million
Interest income decreased $129,000 from 1989-90 interest revenue. This
decrease reflects a smaller General Fund cash portfolio and declining interest
rates.
• Other Revenue - $3.1 million
In 1990-91 other revenue increased $1.2 million due to a reimbursement for
prior payments to the Public Employees Retirement System (PERS), increased
engineering charges to capital projects, and revenue from special developer fees
to support parks and fire stations in south Carlsbad.
The following table summarizes General Fund revenues by major category for 1990-91 and
1989-90:
General Fund Revenues
(in thousands)
1990-91 over %
Category 1990-91 1989-90 (under) 1989-90 Change
Taxes $26,960 $26,127 $833
Licenses & Permits 4,382 4,850 (468)
Charges for Services 3,400 3,591 (191)
Fines & Forfeitures 516 512 4
Interest Income 2,162 2,291 (129)
Other 3.115 1.942 1.173
TOTAL $40.535 $39.313 $1.222
The City of Carlsbad adapted to the recession and corresponding declining revenues by
decreasing expenditures. In order to insure that the City would end the year balanced,
several actions were taken. In April 1991, city managers voluntarily reduced departmental
budgets by $2.9 million. As part of the budget reductions, an informal hold was put on
all but the most necessary hiring until year end. Budget transfers for new programs or
equipment were held to a minimum and some projects, programs and capital equipment
purchases were deferred.
Year end General Fund expenditures totaled $38.4 million for 1990-91, up $3.2 million or
9% over 1989-90. This increase is due primarily to the following:
Public Safety
Spending on public safety programs totaled $16.1 million, up $2.3 million or
16% over 1989-90. This increase reflects efforts to maintain full safety service
staffing, with police staffing increasing by nine positions, along with the
purchase of additional police vehicles and fire equipment. First year charges for
San Diego County prisoner booking fees were accrued.
8
Public Works
Public Works program spending declined by $1.1 million or about 18%. The
three year program to partially fund street lighting and median maintenance
through special district property assessments is now complete; therefore, some
expenditures previously shown in this category are now listed under Special
Revenue funds. Other savings occurred by deferring major street maintenance
costs.
Culture and Recreation
Culture and Recreation spending fell $199,000 or 2.8% from 1990-91, primarily
due to last year's purchase of two parcels of land for library expansion offset by
this year's increased operating costs.
General Government
Spending in general government and administrative programs rose by $2.3
million or about 29%. This increase is spread throughout the many
departments in this category. Factors for this increase include: general salary
increases, higher legal fees, upgrade of telephone system including installation
of voice mail, addition of electronic mail among computer users, increased
building maintenance efforts, remodeling of office space and furniture
replacement. In addition, a reorganization in community development created
a separate development engineering department to provide engineering input
into the development review process and engineering plancheck services.
Placing this department in the General Government category shifted staff and
services totaling approximately $800,000 from Public Works.
Total General Fund expenditures are summarized in the table below:
General Fund Expenditures
(in thousands)
1990-91 over %
Category 1990-91 1989-90 (under) 1989-90 Change
General Government $ 10,049 $ 7,795 $2,254
Public Safety 16,109 13,836 2,273
Public Works 5,368 6,520 (1,152)
Culture & Recreation 6.830 7.029 (199)
TOTAL $38356 $35.180 $3.176
Special Revenue Funds
The City's Special Revenue Funds, which account for the collection and use of special or
restricted revenues, received $4.5 million in total revenue in 1990-91. This is an increase
of $914,000 or about 25% over last year. This increase is due to higher collections of
special charges to the special benefit districts for lighting and landscaping, more federal
funding of the low and moderate income housing programs, and increased receipt of funds
from the sale of forfeited crime-related property.
Special Revenue Funds
Revenues
(in thousands)
1990-91 over %
Category 1990-91 1989-90 (under) 1989-90 Change
Taxes $ 322 $ 332 $(10)
Intergovernmental 2,249 1,963 286
Charges for Services 1,303 924 379
Interest Income 285 195 90
Other 331 162 169
TOTAL $4.490 ; $3.576 $914
Expenditures from the Special Revenue Funds support a wide variety of programs and
projects. Some of the major uses of funds include:
Public works programs such as street lighting, landscaping services for street
trees and median maintenance.
• Cultural programs, including grants from the California Library Services Act and
California Arts Council, and the Civic Arts program.
Special programs such as the Police Asset Forfeiture program, Bilingual Library
program, and Adult Literacy program.
Welfare programs such as the HUD-sponsored Carlsbad Housing Authority
rental assistance program and Senior Nutrition program.
Spending in Special Revenue Funds totaled $3.7 million in 1990-91, an increase of
$555,000 or about 18% above 1989-90. Increased expenditures in the Public Works
category reflect higher Special Benefit District expenditures for lighting and landscaping
services while increased HUD housing allocations are shown under Welfare.
10
Special Revenue Funds
Expenditures
(in thousands)
1990-91 Over %
Category 1990-91 1989-90 (under) 1989-90 Change
General Government $ 93 $ 44 $ 49
Public Works 1,151 883 268
Welfare 2,078 1,808 270
Culture and Recreation 353 385 (321
TOTAL $3.675 $3.120 $555
Capital Projects Funds
Under the accounting definition used by the City, a capital project fund is one that
accounts for the receipt and disbursement of monies that are restricted for the acquisition
or construction of capital facilities (other than those financed by enterprise funds).
Capital projects funds for the City of Carlsbad include those supported by the City's public
facilities fees, park in-lieu (park development) fees, drainage fees, traffic impact fees, bridge
and thoroughfare district fees, gas tax funds, county sales tax funds, and general funds
earmarked for capital purposes in the Capital Construction Fund. The capital projects sup-
ported by the City's Redevelopment Agency are also included in this group.
Revenue in the capital projects funds totaled $31.1 million, up $17.5 million from the
1989-90 total of $13.6 million. Revenues from development activity have continued to
flow into the capital projects funds even though a pace of development remains low. Final
payment on a large federal grant for improvement of Carlsbad Boulevard was received in
1990-91. Resolution of allowable cost was not achieved until this year, although funds for
the project were expended in prior years. Over $16 million of Alga Road Assessment
District bond construction funds were also received.
Capital Projects Funds
Revenues
(in thousands)
1990-91 Over %
Category 1990-91 1989-90 (under) 1989-90 Change
Taxes $2,247 $2,166 $ 81 3.7%
Intergovernmental 3,156 1,304 1,852 142.0
Charges for Services 5,999 6,214 (215) (3.5)
Interest 2,969 3,173 (204) (6.4)
Contributions from
Property Owners 16,516 402 16,114 4,008.5
Other 231 338 (107") C31.7)
TOTAL $31.118 $13.597 $17.521 128.9%
11
Spending on capital projecis totaled $27.5 million, an increase of $15.7 million or 134%
over last year. This level of capital project construction represents the seventh year of the
City's major construction effort which has provided more than $110 million in
improvements. Projects planned for 1991-92 could carry this trend into a eighth year with
$40 million of new capital projects budgeted in the new year. The City Council continues
to set a high priority on the construction of quality infrastructure improvements.
Some of the key projects under construction or completed during this year include:
Palomar Airport Road. College Boulevard and Alga Road Assessment Districts-
These major circulation system links provide for traffic flow to the center of
Carlsbad from now through buildout. In 1990-91, Alga Road Assessment
District bond funds reimbursed developer road construction costs and completed
a major link for freeway access.
Freeway Interchanges - Major expansion of the three Interstate 5 freeway
interchanges will provide improved circulation at critical connection points to
City streets. The Palomar Airport Road/I-5 interchange is scheduled for
completion in 1993. Preliminary design work continues on the La Costa Avenue
and Poinsettia Avenue interchanges.
El Camino Real Road Widening and Road Medians - Improvements to this main
north/south City thoroughfare will improve citywide traffic circulation. In order
to limit traffic disruptions and achieve cost savings, Carlsbad Municipal Water
District improvements and road widening were made concurrently.
South Carlsbad Library - Architectural design was completed on the 64,000
square foot building. Scheduled to open in 1992, the facility will become the
City's main library.
Alta Mira Park - The City acquired 30 acres of land for future Alta Mira Park.
The park will provide recreational facilities to the southwest quadrant of the
City.
Downtown Streetscape Program - The Streetscape program is beautifying the
downtown area with improvements to Carlsbad Boulevard and Carlsbad Village
Drive.
Sculpture Park - Included in the downtown rehabilitation program, the
Sculpture Park will become a focal point at the edge of the Pacific Ocean. It is
scheduled for completion in early 1992.
12
Capital Projects Funds
Expenditures
(in thousands)
1990-91 over %
Category 1990-91 1989-90 (under) 1989-90 Change
General Government $ 296 $ 75 $ 221 294.7%
Capital Projects 26,665 11,105 15,560 140.1
Principal, Interest
and Fiscal Charges 536 578 (42") (7.3)
TOTAL $27.497 $11.758 $15.739 133.9%
Debt Service Funds
The City's Debt Service funds record the payment of interest and principal on the current
portion of outstanding debt. At June 30,1991, the total debt payable from non-enterprise
sources was $32 million, comprised of Library, Sewer, Parking Authority and Building
Authority Bonds, Hosp Grove Certificates of Participation, College Boulevard 1915 Act
Assessment District bond issue and Redevelopment Tax Allocation Bonds. Revenues for
1990-91 declined from last year primarily due to a major property owner's delinquency in
the College Boulevard Assessment District. Excess reserves allowed the City to cover the
current delinquency without utilizing the Debt Service Reserve Fund. Although the City
anticipates payment, foreclosure proceedings are in process.
Debt Service Funds
Revenues
(in thousands)
1990-91 over %
Category 1990-91 1989-90 (under) 1989-90 Change
Taxes $ 905 $1,140 $(235) (20.6)%
Interest 323 345 (22) (6.4)
TOTAL $1.228 $1.485 $(257) (17.3)%
Debt related expenditures rose in 1990-91 because of higher principal payments for both
Hosp Grove Certificates of Participation and College Boulevard Assessment District bonds.
13
Debt Service Funds
Expenditures
(in thousands)
1990-91 over %
Category 1990-91 1989-90 (under) 1989-90 Change
Principal $ 1,110 $ 670 $440 65.7%
Interest 2,361 2,400 (39) (1.1)
Other Q 6 (61 -.-
TOTAL $3.471 $3.076 $395
The City's tax rate to support general obligation debt for 1990-91 dropped 19% from the
1989-90 rates. Increased assessed valuation and a growing tax base made these decreases
possible. The property tax rate in the following chart is converted to dollars per $100,000
of assessed valuation.
Property Tax Rates
Supporting General
Obligation Bonds
(Per $100,000 of Assessed Value)
1990-91 over %
Category 1990-91 1989-90 (under) 1989-90 Change
Library Bonds $ .31 $ .46 $(.15) (32.6)%
Sewer Bonds 2.44 2.93 (.49) (16.7)
TOTAL $2.75 $3.39 $(.64) (18.9)%
Enterprise Operations
The City of Carlsbad manages Water Utility, Sewer, Solid Waste, and the proposed Golf
Course as Enterprise Fund operations. The Carlsbad Municipal Water District, established
as a subsidiary district in January 1990, is also included. An enterprise fund is one where
most or all of the costs involved are supported by user fees. Within these funds the City
uses many of the accounting practices applicable to commercial business including the
recording of depreciation on fixed assets and the allocation of overhead costs from support
services. User fees are set on an annual basis to cover both operating costs and debt
service needs.
Revenue in the enterprise funds totaled $15.4 million, up $928,000 from 1989-90. Rate
adjustments translating to higher sewer and water fees are reflected in increased enterprise
fund revenues.
14
Enterprise Funds
Total Operating and Non-Operating Revenues
(in thousands)
1990-91 over %
Category 1990-91 1989-90 (under)1989-90 Change
Carlsbad Muni. Water Dist. $ 9,140 $ 8,920 $220 2.5%
Golf Course 108 21 87 414.3
Sewer 3,899 3,572 327 9.2
Solid Waste 37 0
Water Utility 2.258 2.001
TOTAL $15.442 $14.514
Expenses in the Enterprise Funds totaled $13.4 million, down $246,000 from 1989-90.
All golf course expenses in 1990-91 were directly related to the construction of the
proposed golf course, and are included in construction in progress. Consumer water
conservation enabled the Carlsbad Municipal Water District to cut their water purchase
costs and also avoid state water surcharges. Water Utility expenses show small increased
personnel and office expenses. During this same period the number of accounts provided
with water and/or sewer service grew from 16,300 to 17,000, an increase of 700 accounts
or 4%.
Enterprise Funds
Total Operating and Non-Operating Expenses
(in thousands)
1990-91 over %
Category 1990-91 1989-90 Cunder) 1989-90 Change
Carlsbad Muni. Water Dist. $ 8,329 $ 8,602 $ (273) (3.2)%
Golf Course -0- -0-
Sewer 3,593 3,655 (62) (1.7)
Solid Waste 20 -0-
Water Utility 1.493 1.424
TOTAL $13.435 $13.681
All Water Revenue bonds were paid in full in 1990-91. In 1989, the City joined with three
other agencies to sell $33.5 million of sewer revenue bonds. These bond funds, along with
funding from two additional agencies, are currently financing the expansion of the Encina
Wastewater Facility and should provide sufficient wastewater treatment capacity to the
year 2005. Carlsbad's portion of the outstanding bonds is $12.7 million.
15
Internal Service Funds
Internal Service Fluids are used to account for services provided by a City department for
other City departments. As with an Enterprise Fund, the source of revenue is user fees
charged to the departments receiving the service.
SELF-INSURANCE PROGRAM-WORKERS' COMPENSATION & GENERAL LIABILITY
The City has been self-insured for Workers' Compensation since September 1978. The
activity for this program is recorded in the Workers' Compensation Self-Insurance Internal
Service Fund. Workers' compensation claims for 1990-91 amounted to $1.2 million
compared to $789,000 in 1989-90, an increase of about $419,000 or 53%. The estimated
claims payable at year end were $1.3 million, up $565,000 or 72% over last year. Since
fund equity totaled only $44,000 at June 30,1991, $500,000 is budgeted to be contributed
from other City funds in 1991-92.
The General Liability Self-Insurance Fund was established near the end of 1980-81. Claims
expense for 1990-91 totaled $282,000, down $396,000 from the 1989-90 total of
$678,000. The estimated claims payable at year end were $403,000, down $854,000.
Fund equity totaled $2 million at June 30, 1991.
OTHER INTERNAL SERVICE FUNDS
The City operates a central vehicle maintenance program servicing and replacing both the
rolling stock and small machinery. Operating costs for this program were $1.7 million for
1990-91, up $299,000 over 1989-90, due to higher depreciation and increased fuel and
supply costs. Total fund equity at year-end was $3.5 million.
The City also operates a health insurance internal service fund for collecting premiums,
paying the insurance carrier, and holding reserve funds. At June 30, 1991, total health
insurance fund equity totaled $1.2 million.
The City's Data Processing internal service fund collects revenues and expenses related to
the providing of data processing services to the City. At year-end, fund equity totaled $1.2
million.
Funds
The City uses Agency Funds to account for assets held by the City for other individuals,
entities or governments. Typically these funds relate to contractors' cash performance
bonds, employee payroll deductions, or deferred compensation accounts.
The City held a total of $13.7 million in Agency Funds as of June 30, 1991, compared to
$10.7 million at the end of 1989-90. This increase of $3 million is due to the deposit of
an additional $522,000 into the City's deferred compensation plans and an increase of $2.7
million in Assessment District bond reserves and capitalized interest.
16
Cash Management
The City Treasurer is charged with the responsibility of safeguarding the City's assets,
receiving all payments due the City and investing all inactive funds. During 1990-91, the
Carlsbad Municipal Water District managed its portfolio of $13 million separately;
however, at July 1, 1991 the City assumed responsibility. During this year the City
Treasurer earned about $7.7 million in interest on investments in all fund types from
instruments yielding up to 10.14%, compared to earnings of $7.5 million during 1989-90.
Funds are invested in various types of instruments as shown below. At June 30,1991, the
Treasurer had 100% of all available funds invested. The City's total portfolio at year end
was $102.2 million.
Below is a summary of cash and investments outstanding as of June 30, 1991:
Amount Invested
Interest Rates Cin millions)
Cash 0.00 - 7.51
Certificates of Deposit 6.95 - 9.75
Other Deposits 0.00 - 9.65
Federal Agency Notes 6.55 - 9.14
Treasury Coupons 6.90 - 9.30
Corporate Notes 7.15 -10.14
Commercial Paper 6.79 - 8.74
Banker's Acceptances 6.42 - 8.68
Miscellaneous Investments 5.25 - 9.25
As required by State law, the City Council adopted a comprehensive investment policy
specifying the type and term of City investments. This policy has allowed the City
Treasurer flexibility without endangering the safety, liquidity or yield of the total portfolio.
Debt Administration
The ratio of net bonded debt to assessed valuation and the amount of bonded debt per
capita are useful indicators of the City's debt position to management, citizens and
investors. These data for the City for the year ended June 30, 1991, are as follows:
Ratio of Debt to Assessed Valuation
Net
Amount Assessed Value Per Capita
Net General Bonded Debt $150,000 0.00003% $2.33
This debt represents obligations payable directly from a tax levy applied to property within
the City of Carlsbad. The City's general bonded debt includes outstanding Library and
Sewer bonds which will be paid in full January 1, 1992.
17
Gann Limit - Appropriations Subject to T.«nit
In 1979, Proposition 4, the "Gann" initiative, was passed. The purpose of this law is to
limit government spending by putting a cap on the total proceeds of taxes that may be
appropriated each year. This limit is increased each year through a formula that takes into
consideration changes in the Consumer Price Index and state per-capita income. When a
city reaches this limit excess tax revenue must be returned to the State or citizens through
a process of refunds, rebates, or other means that may be defined at that time. The Gann
limit for the City of Carlsbad has increased steadily since 1979 and still provides the City
with a comfortable operating margin. The Gann limit for the City of Carlsbad for 1990-91
was $43.9 million, with appropriations of "proceeds of taxes" of only $32.5 million. This
allows the City a margin of $11.4 million.
CITY OF CARLSBAD
PROPOSITION 4 SPENDING LIMIT
VS. APPROPRIATION OF PROCEEDS OF TAXES
MILLIONS OF DOLLARS
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
• APPRO? OF TAXES 11 SPENDING LIMIT
18
Economic Outlook
The City's Capital Improvement Program calls for the construction of more than $400
million in improvements between now and buildout. This program includes new parks,
libraries, fire stations, streets, water lines and other facilities to maintain the level of
service offered to the Carlsbad resident. This aggressive construction program will place
a burden on the operating budget that must be managed through careful scheduling to
match demands with resources. Uncontrolled demand would easily outpace the City's
ability to pay for services.
The expansion of retail sales facilities, the addition of new auto dealerships, several small
commercial centers, and continued plans for the construction of a group of major shopping
centers as well as the construction of a major hotel in southern Carlsbad, provide the much
needed tax base to finance the growing service needs. Further, the continued industrial
development in the Palomar Airport Industrial Park area will add to Carlsbad's economic
health.
The City's Growth Management Program holds the key to the timing of many of the
developments that will support the City through fees and taxes. This program is designed
to guarantee that no new development occurs without careful planning of infrastructure
and services. This process will cause some development to be delayed or revised in scope
during the planning process, which in turn may delay the City's ability to collect additional
revenue.
City Council approved a long range financing program which addresses the funding needs
for $300 million of the City's capital improvement program, more than $150 million in
street improvements and $120 million of school district financing requirements.
City Staff is currently involved in a comprehensive fiscal analysis of the Carlsbad General
Plan in an effort to forecast the financial stability of the City. The program will provide
a tool to evaluate financial implications of current and future City policies and decisions.
The City Council has directed staff to begin an update of the City's General Plan.
Community meetings and a representative survey are scheduled to receive input from all
sectors of the public. The General Plan update will begin in early 1991-92 using the
combined efforts of both consultants and City staff.
Carlsbad's general outlook is for an economic recovery with adequate General Fund
revenue for the next several years as the Growth Management Program begins to allow
some developments to occur. The City should see some ability to expand services in the
future without depending on tax increases. The years following appear to offer expanding
opportunities for the City Council to enhance service to the community.
19
•"""v
Certificate of Achievement for Excellence in Fipimcia} Reporting
The Government Finance Officers Association of the United States and Canada (GFOA) and
the California Society of Municipal Finance Officers (CSMFO) awarded a Certificate of
Achievement for Excellence in Financial Reporting to the City of Carlsbad for its
comprehensive annual financial report for the fiscal year ended June 30, 1990. In order
to be awarded a Certificate of Achievement, a governmental unit must publish an easily
readable and efficiently organized comprehensive annual financial report, whose contents
conform to program standards. Such reports must satisfy both generally accepted
accounting principles and applicable legal requirements. A Certificate of Achievement is
valid for a period of one year only. The City has received the GFOA certificate since 1986
and the CSMFO certificate since 1985.
We believe our current report continues to conform to the Certificate of Achievement
Program requirements, and we are submitting it to GFOA to determine its eligibility for
another certificate.
Acknowledgments
This report has been a joint effort by many people from many different areas of
responsibility. The dedicated efforts of Cheryl Allen, Assistant Finance Director, and her
accounting staff, deserve full credit for the preparation and contents of this report. We
appreciate Lisa Hildabrand and Darren Huennekens of KPMG Peat Marwick for the
professional way in which the audit of this financial report was conducted. It has been a
pleasure to work with the KPMG Peat Marwick staff throughout this period.
Respectfully submitted,
ELLIOTT
idial Management Director
CFj\:emr
20
OOANSCC
CARLSBAD
21
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Carlsbad,
California
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1990
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFR's) achieve the highest
standards in government accounting
and financial reporting.
President
Executive Director
22
CALIFORNIA SOCIETY OF MUNICIPAL FINANCE OFFICERS
DEDICATED TO EXCELLENCE IN MUNICIPAL FINANCIAL MANAGEMENT
Certificate of A
FOR
OUTSTANDING FINANCIAL REPORTING
PRESENTED TO THE
City ofCartsbad
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
Chair. Professional Standards Committee • President
7*^22,1991 iMf ^ruanj22,199l
Date if^mfSmSSiirSS^f Dalti
24
CITY OF CARLSBAD
ELECTED CITY OFFICIALS
Claude A. Lewis, Mayor
Ann J. Kulchin, Mayor Pro Tern
Eric Larson, Council Member
Julianne Nygaard, Council Member
Margaret Stanton, Council Member
Aletha L. Rautenkranz, City Clerk
James M. Stanton, City Treasurer
ADMINISTRATION AND DEPARTMENT HEADS
Raymond R. Patchett, City Manager
Frank Mannen, Assistant City Manager
James F. Elliott, Financial Management Director
Martin Orenyak, Community Development Director
Vincent F. Biondo, Jr., City Attorney
Ralph Anderson, Utilities/ Michael Holzmiller,
Maintenance Director Planning Director
David Bradstreet, Parks and Clifford Lange, Library Director
Recreation Director Ann Jensen, Human Resources Director
Ruth Fletcher, Purchasing Officer James Thompson, Fire Chief
Lloyd Hubbs, City Engineer Robert Vales, Police Chief
CHAIRPERSONS, COMMISSIONS AND BOARDS
Robert Holmes Planning Commission
Camille Mitkevich Personnel Board
Marvin Cap Building Authority
Dick Goodman Parking Authority
James Stachoviak Traffic Safety Commission
Seena Trigas Library Board
Kim Welshons Parks and Recreation Commission
Linwood J. Van Senior Citizen Commission
Clarence Schlehuber Design Review Board
John McCoy Housing and Redevelopment Committee
Donna Meilach Arts Commission
Marjorie Howard-Jones Historic Preservation Commission
Fred Morey Cable Television Foundation
25
CITY OF CARLSBAD ORGANIZATION CHART - 1991
CITY
CLERK
ASSISTANT
CITY MANAGER-1
Carlsbad Municipal
Water District
Huaan Resources
Information Systems
Library
Parks k Recreation
Utilities/Maintenance
ASSISTANT TO
CITY MANAGER
Research Office
FINANCIAL
MANAGEMENT
DIRECTOR
Finance
Purchasing
Risk Management
VOTKKS
HL
CITY
COUNCIL
CITY
MANAGER I
CITY
TREASURER
FIRE 1
CITY
ATTORNEY
zzz
POLICE
COMMUNITY
DEVELOPMENT
DIRECTOR
Iliiililing I
Engineering
Housing k
Redevelopment
BOARDS, COMMISSIONS AND COMMITTED
VOTERS
CITY
COUNCIL
Arts
Commission
Beach
ErosionCommittee
Building
Authority
DesignReview
Board
Historic
Preservation
Commission
Housing &
Redevelopment
Advisory Cotnm
Cable
TelevisionFoundation
Child Care
Commission
Citizens
Committee toStudy Growth
Library
Board of
Trustees
Parking
Authority
Parks &
Recreation
Commission
Personnel
Board
Planning
Commission
Senior
Citizen
Commission
Sister
City
Committee
Traffic-
Safely
Commission
Water
Commission 1
28
Financial Section
KPMG Peat Marwick
Certified Public Accountants
750 B Street Telephone 619 233 8000 Telecopier 619 696 0121
San Diego, CA 92101
Independent Auditors' Report
The Honorable Members of City Council
City of Carlsbad, California:
We have audited the general purpose financial statements of the City of
Carlsbad, California, as of and for the year ended June 30, 1991, as listed in
the accompanying table of contents. These general purpose financial
statements are the responsibility of the City's management. Our
responsibility is to express an opinion on these general purpose financial
statements based on our audit.
We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the general purpose financial
statements are free of material misstatement. An audit includes examining, on
a test basis, evidence supporting the amounts and disclosures in the general
purpose financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audit provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above
present fairly, in all material respects, the financial position of the City
of Carlsbad, California, as of June 30, 1991, and the results of its
operations and the cash flows of its proprietary funds for the year then ended
in conformity with generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general
purpose financial statements taken as a whole. The combining, individual
fund, and individual account group financial statements and schedules listed
in the accompanying table of contents are presented for purposes of additional
analysis and are not a required part of the general purpose financial
statements of the City of Carlsbad, California. Such information has been
subjected to the auditing procedures applied in the audit of the general
purpose financial statements and, in our opinion, is fairly stated in all
material respects in relation to the general purpose financial statements
taken as a whole.
October 8, 1991
29
CITY OF CARLSBAD
Combined Balance Sheet
All Fund Types and Account Groups
June 30, 1991
Governmental Fund Tvt>es
Assets and Other Debits
Cash and investments
Deferred compensation
investments
Receivables:
Loans
Taxes
Accounts, net
Accrued interest
Due from other funds
Due from other
governments
Advances to other
funds
Inventory
Prepaid expenditures
Restricted assets:
Cash and
investments
Accrued interest
Property, plant and
e quipmen t, ne t
Amount available in
debt service funds
Amount to be
provided for
retirement of
general long-
term debt
Total assets and
other debits
13
12
Special Debt
General Revenue Service
Capital
ProectsNotes
4 $ 9,276,003 4,211,648 5,043,176 37,161,268
2
5
,258
110
345
553
,870
44
79
,917
,948
,155
,267
-
,554
,080
,500
164
17
37
62
24
152
»
,
,
,
>
»
488
698
897
500
661
516
232,071 24
25
80,930 530
436
7,011
,061
,348
,938
,486
,031
$ 18.538.424 4.671.408 5.356.177 45.189.132
See accompanying notes to combined financial statements.
30
Proprietary
Fund Types
Internal
Enterprise Service
24,897,113 6,790,131
1,101,849
2,730,842
274,270
1,349,311
83,450
322,442
8,188
122,560
85,140
Fiduciary
Fund Type
Agency
10,932,373
2,768,577
Account Groups
General
Fixed Assets
Long-
Term Debt
16,297
Total
(Memorandum
Only)
98,311,712
3,870,426
164,488
2,532,747
2,913,223
1,432,650
1,902,578
544,597
12,881,585
451,662
232,016
14,816,274
132,545
94,325,653 2,907,856 61,700,842
5,094,417
14,816,274
132,545
158,934,351
5,094,417
26.770.913 26.770.913
140.033.749 9.913.875 13.717.247 61.700.842 31.865.330 330.986.184
(Continued)
31
CITY OF CARLSBAD
Combined Balance Sheet, Continued
All Fund Types and Account Groups
June 30, 1991
Governmental Fund Types
Special Debt Capital
Liabilities Notes General Revenue Service Projects
Accounts payable $ 740,243 120,870 - 347,925
Accrued wages payable 1,601,216 37,450 - 17,920
Accrued interest payable 200,357 -
Due to other funds 13 - 188,812 - 364,455
Due to other governments - 24,320 - -
Advances from other funds 12 - - - 12,797,854
Estimated claims payable -
Assessments payable - - - -
Current portion of
long-term debt 11 - - - -
Deposits payable -
Deferred compensation
payable 8 - - - -
Current liabilities
payable from
restricted assets:
Current portion of
long-term debt 11 - - - -
Accrued interest
payable -
Deferred revenue 1,061,906 2,195 261,760 20,400
Bonds payable 11
Special assessment debt
with governmental
commitment 11 - - - -
Obligations under
capital leases 9,11 - - - -
Certificates of
participation 11 - - - -
Installment purchase
agreement 11 - - - -
Total liabilities 3.603.722 373.647 261.760 13.548.554
See accompanying notes to combined financial statements.
32
Proprietary
Fund Types
Enterprise
1,983,399
46,199
149,361
1,175,925
83,731
645,000
348,585
1,101,849
Internal
Service
66,201
40,420
1,897,193
Fiduciary
Fund Type
Agency
2,717
173,386
3,675,837
7,096,730
2,768,577
Account Groups
General
Fixed Assets
Long-
Term Debt
Total
(Memorandum
Only)
3,261,355
1,743,205
349,718
1,902,578
24,320
12,881,585
1,897,193
3,675,837
645,000
7,445,315
3,870,426
40,000 40,000
366,296
2,070,778
_
- - -
11,681,060
12.689.800
32.381.983 2.003.814 13.717.247
13,585,000
8,765,000
1,175,330
8,340,000
31.865.330
366,296
3,417,039
13,585,000
8,765,000
1,175,330
20,021,060
12.689.800
97.756.057
(Continued)
33
CITY OF CARLSBAD
Combined Balance Sheet, Continued
All Fund Types and Account Groups
June 30, 1991
Total liabilities,
brought forward
Governmental Fund Types
Notes General
$ 3.603.722
Special
Revenue
Debt
Service
Capital
Projects
373.647 261.760 13.548.554
Fund Equity and
Other Credits
Investment in general
fixed assets
Contributed capital
Fund balance:
Reserved
Unreserved
Retained earnings:
Reserved
Unreserved
Total fund equity
and other credits
Total liabilities,
fund equity and
other credits
15
14
14
14
14
7,073,664
7,861,038
_
_
2,177,861 5,094,417
2,119,900
_ _
_ —
10,432,332
21,208,246
_
—
14.934.702 4.297.761 5.094.417 31.640.578
$ 18.538.424 4.671.408 5.356.177 45.189.132
See accompanying notes to combined financial statements.
34
Proprietary
Fund Types
Internal
Enterprise Service
Fiduciary
Fund Type
Agency
Account Groups
General
Fixed Assets
Long-
Term Debt
Total
(Memorandum
Only)
32.381.983 2.003.814 13.717.247 31.865.330 97.756.057
72,448,230 4,676,948
6,428,321
28.775.215 3.233.113
61,700,842 61,700,842
77,125,178
24,778,274
31,189,184
6,428,321
32,008,328
107.651.766 7.910.061 61.700.842 233.230.127
140.033.749 9.913.875 13.717.247 61.700.842 31.865.330 330.986.184
35
CITY OF CARLSBAD
Combined Statement of Revenues, Expenditures and
Changes in Fund Balance - All Governmental Fund Types
For the year ended June 30, 1991
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeits
Interest income
Contributions from property owners
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Public works
Welfare
Culture and recreation
Capital outlay
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenues over expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Total other financing sources (uses)
Excess of revenues and other financing sources
over expenditures and other financing uses
Fund balance at beginning of year
Residual equity transfers in
Residual equity transfers out
Fund balance at end of year
General
$ 26,959,993
4,382,445
3,399,845
515,746
2,161,589
3.115.523
40.535.141
10,048,803
16,108,745
5,367,835
6,830,513
38,355,896
2.179.245
1,065,807
(2.195.196)
(1.129.389)
1,049,856
15,568,406
5,746
(1.689.306)
$ 14.934.702
See accompanying notes to combined financial statements.
36
Total
Special Debt Capital (Memorandum
Revenue Service Projects Only)
322,234 905,161 2,247,517 30,434,905
~
2,249117 - 3,155,957
1,303,450 - 5,998,694 10,701,989
_ 515,746
284,486 322,761 2,968,677 5,737,513
1 _ 16,515,962 16,515,962
330.490 - 231.460 3.677.473
4.489.777 1.227.922 31.118.267 77,371,107
93 174 - 295,632 10,437,609
1 16,108,745
1,151,200 - - 6,519,035
2,077,563 _ - 7'?oo'cfi7353,054 - - 7,183,567
26,665,164 26,665,164
1,110,000 - 1,110,000
2.361.466 536.175 2,897,641
3t674.991 3.471.466 27.496.971 72,999,324
814.786 (2.243.544) 3.621.296 4,371,783
461,559 2,614,318 2,789,848 6,931,532
(247.010) (4.311.526) (6.753.732)
461.559 2.367.308 (1.521.678) 177,800
1,276,345 123,764 2,099,618 4,549,583
3,021,416 4,837,454 29,870,789 53,298,065
133,199 448,278 587,223
_ - (778.107) (2.467.413)
4.297.761 5.094.417 31.640.578 55.967.458
37
CITY OF CARLSBAD
Combined Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and Actual (Budgetary Basis)
All Governmental Fund Types
For the year ended June 30, 1991
General Fund
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeits
Interest income
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Public works
Welfare
Culture and recreation
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of
revenues over
expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Total other financing
sources (uses)
Budget
$ 28,105,000
4,310,000
4,035,000
530,000
2,000,000
2.150.000
41.130.000
13,194,733
16,924,687
6,527,449
Actual on
Budgetary
Basis
26,959,993
4,382,445
3,399,845
515,746
2,161,589
3.115.523
40.535,141
10,650,252
16,175,925
5,607,717
Variance
Favorable
(Unfavorable )
(1,145,007)
72,445
(635,155)
(14,254)
161,589
965.523
(594.859)
2,544,481
748,762
919,732
7,253,368 6,870,532
43.900.237 39.304.426
(2.770.237) 1.230.715
1,065,807 1,065,807
(2,195,196) (2,195,196)
(1.129.389) (1.129.389)
Excess (deficiency) of
revenues and other financing
sources over expenditures
and other financing uses (3,899,626)
Fund balance at beginning of year
Residual equity transfers in
Residual equity transfers out
Fund balance at end of year
15,568,406
101,326
15,568,406
5,746
(1.689.306)
382,836
4.595.811
4.000.952
$ 11.668.780 13.986.172
4,000,952
5,746
(1,639,306)
2.317.392
See accompanying notes to combined financial statements.
38
Special Revenue Funds
Budget
300,000
185,500
315.000
Actual on
Budgetary
Basis
322,234
1,924,383 2,249,117
1,175,431 1,303,450
280,841
330.490
3.900.314 4.486.132
Variance
Favorable
(Unfavorable)
22,234
324,734
128,019
95,341
15.490
585.818
Budget
149,000
1,100
150.100
Debt Service Funds
Actual on
Budgetary
Basis
144,832
2,308
147.140
Variance
Favorable
(Unfavorable)
(4,168)
1,208
(2.960)
247,347
1,757,662
2,216,251
762,275
109,633
1,268,629
2,077,563
508,965
4.983.535 3.964.790
137,714
489,033
138,688
253,310
1.018.745
135,000
4.210
139.210
135,000
4.210
139.210
(1.083.221) 521.342 1.604.563 10.890 7.930 (2t960)
461,559 461,559
461.559 461.559
(621,662) 982,901 1,604,563 10,890 7,930 (2,960)
2,974,628 2,974,628 - 119,185 119,185
2.352.966 3.957.529 1.604.563 130.075 127.115 (2.960)
39 (Continued)
CITY OF CARLSBAD
Combined Statement of Revenues, Expenditures and Changes in
Fund Balance - Budget and Actual, Continued
(Budgetary Basis)
For the year ended June 30, 1991
Total (Memorandum Only)
Revenues:
Taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeits
Interest income
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Public works
Welfare
Culture and recreation
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess (deficiency) of
revenues over
expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Total other financing
sources (uses)
Excess (deficiency) of
revenues and other financing
sources over expenditures
and other financing uses
Fund balance at beginning of year
Residual equity transfers in
Residual equity transfers out
Fund balance at end of year
Budget
$ 28,554,000
4,310,000
1,924,383
5,210,431
530,000
2,186,600
2.465.000
Actual on
Budgetary
Basis
27,427,059
4,382,445
2,249,117
4,703,295
515,746
2,444,738
3.446.013
45.180.414 45.168.413
49.022.982 43.408.426
(667.830) (667.830)
Variance
Favorable
(Unfavorable)
(1,126,941)
72,445
324,734
(507,136)
(14,254)
258,138
981t013
(12.001)
13,442,080
16,924,687
8,285,111
2,216,251
8,015,643
135,000
4.210
10,759,885
16,175,925
6,876,346
2,077,563
7,379,497
135,000
4.210
2,682,195
748,762
1,408,765
138,688
636,146
_
-
5.614.556
(3.842.568) 1.759.987 5.602.555
1,527,366 1,527,366
(2.195.196) (2.195.196)
(4,510,398)
18,662,219
1,092,157
18,662,219
5,746
(1.689.306)
5,602,555
5,746
(1.689.306)
$ 14.151.821 18.070.816 3.918.995
See accompanying notes to combined financial statements.
40
41
CITY OF CARLSBAD
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings
All Proprietary Fund Types
For the year ended June 30, 1991
12.135.280
Operating revenues:
Water sales
Sewer service charges
Other charges for services
Facilities revenue
Miscellaneous
Total operating revenues
Operating expenses:
Plant operations
Purchased water
Depreciation and amortization
Fuel and supplies
Claims expense
General and administrative
Total operating expenses
Operating income (loss)
Nonoperating revenues (expenses):
Interest income
Interest expense and fees, net of
capitalized interest
Loss on disposal of property
Property tax and rent
Miscellaneous income
Amortization of issuance costs
Total nonoperating revenues, net $ 2?642T163
Enterprise
7,751,340
2,418,748
380,825
871,917
712.450
Internal
Service
-
5,247,871
-
400.963
Total
(Memorandum
Only)
7,751,340
2,418,748
5,628,696
871,917
1.113.413
5.648.834 17.784.114
2,765,953
4,460,116
1,790,557
3.754.237
12.770.863
(635.583)
2,530,664
(622,868)
(13,230)
743,815
31,726
(27.944)
510,631
447,265
3,019,395
1.416.474
5.393.765
255.069
488,089
(47,515)
2,765,953
4,460,116
2,301,188
447,265
3,019,395
5.170.711
18.164.628
(380,514)
3,018,753
(622,868)
(60,745)
743,815
31,726
(27.944)
440.574 3.082.737
See accompanying notes to combined financial statements.
42
Total
Internal (Memorandum
Enterprise Service Only)
Income before operating transfers $ 2,006,580 695,643 2,702,223
Operating transfers in - 194,798 194,798
Operating transfers out - (372,598) (372,598)
Net income 2,006,580 517,843 2,524,423
Retained earnings at beginning
of year 29,351,864 2,715,270 32,067,134
Prior period adjustment (note 21) 3.845.092 - 3,845.092
Retained earnings at beginning
of year, as adjusted 33.196.956 2.715.270 35.912.226
Retained earnings at end of year
(note 14) $ 35.203.536 3.233.113 38.436.649
43
CITY OF CARLSBAD
Combined Statement of Cash Flows
All Proprietary Fund Types
For the year ended June 30, 1991
Enterprise
Total
Internal (Memorandum
Service Only)
Cash flows from operating activities:
Operating income (loss)
Adjustments to reconcile operating
income (loss) to net cash provided by
operating activities:
Depreciation and amortization
(Increase) decrease in receivables
Decrease in advances and due to/due
from other funds
Increase in due from other governments
Increase in inventory
Decrease in accounts payable
Increase in accrued wages payable
Decrease in estimated claims payable
Net cash provided by operating
activities
Cash flows from noncapital financing
activities:
Property taxes and rent received
Operating transfer of cash
Net cash provided by (used in)
noncapital financing activities
$ (635,583) 255,069 (380,514)
1,790,557
1,158,475
(1,546,453)
(83,450)
15,121
686,534
3,474
—
510,631
(41,213)
_
-
(17,016)
(76,420)
7,454
(142.009)
2,301,188
1,117,262
(1,546,453)
(83,450)
(1,895)
610,114
10,928
(142.009)
1.388.675
743,815
496.496
(177.800)
743.815 (177.800)
1.885.171
743,815
(177.800)
566.015
Cash flows from capital and related
financing activities:
Purchases of property, plant and
equipment (7,690,778) (692,066) (8,382,844)
Proceeds received on disposal of assets 2.548 - 2.548
Cash flows from capital and related
financing activities, carried forward $ (7.688.230) (692.066) (8.380.296)
See accompanying notes to combined financial statements.
44
Total
Internal (Memorandum
Enterprise Service Only)
Cash flows from capital and related
financing activities, brought forward $ (7,688,230) (692,066) (8,380,296)
Principal payments on bonds (1,396,766) - (1,396,766)
Interest and other fees paid on bonds (1,834,925) - (1,834,925)
Contributions from other governments 31,726 - 31,726
Decrease in deposits payable (601,241) - (601,241)
Proceeds from capital contributions 3,980,039 800.000 4,780,039
Net cash provided by (used in)
capital and related financing
activities (7.509.397) 107.934 (7.401.463)
Cash flows from investing activities:
Net decrease in restricted cash and
investments 3,757,247 - 3,757,247
Net decrease in investments 1,509,043 - 1,509,043
Increase in deferred compensation payable 239,839 - 239,839
Increase in deferred compensation
investments (239,839) - (239,839)
Interest on investments 3,030,165 488.089 3,518,254
Net cash provided by investing
activities 8.296.455 488.089 8.784.544
Net increase in cash 2,919,548 914,719 3,834,267
Cash and cash equivalents at beginning
of year 27.820.676 5,875.412 33.696.088
Cash and cash equivalents at end
of year $ 30.740.224 6.790.131 37.530.355
Supplemental schedule of noncash
investing and financing activities -
capital assets contributed by
contractors and/or other funds $ 2.819.816 476.142 3.295.958
45
CITY OF CARLSBAD
Notes to Combined Financial Statements
June 30, 1991
(1) Summary of Significant Accounting Policies
The City of Carlsbad, California (Carlsbad) was incorporated on July 16,
1952. Carlsbad operates under a Council-Manager form of government and
provides the following services as authorized by its charter: general
government, public safety, public works, culture, recreation and
community development. Carlsbad is not subject to federal or state
income taxes.
The accounting policies of Carlsbad and its component units conform to
generally accepted accounting principles as applicable to governmental
units. The following is a summary of the more significant policies:
(a) Description and Scope of the Reporting Entity
The Comprehensive Annual Financial Report includes all entities for
which Carlsbad exercises oversight responsibility as defined by the
National Council on Governmental Accounting (NCGA) Statement No. 3
"Defining the Reporting Entity." This responsibility includes, but
is not limited to, the authority to govern, manage, approve
budgets, and assume fiscal accountability.
The financial statements of the reporting entity (the City) include
the financial activities of Carlsbad, the Housing Authority of the
City of Carlsbad, the Parking and Building Authorities of the City
of Carlsbad, the City of Carlsbad Public Improvement Corporation,
the Carlsbad Redevelopment Agency and the Carlsbad Municipal Water
District (the District). Their financial operations are closely
related and the City Council has a continuing oversight
responsibility over these entities. The oversight responsibility
is determined on the basis of budget adoption, taxing authority,
funding and appointment of the governing board.
The City also has an interest in a joint sewage treatment facility
known as the Encina Water Pollution Control Facility and in a
financing authority known as the Encina Financing Joint Powers
Authority. Since the City does not have significant influence over
the management or the operation of these entities, they have not
been included as component units in the City's financial statements.
(Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(1) Summary of Significant Accounting Policiest Continued
(b) Basis of Presentation
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, fund balance/
retained earnings, revenues, and expenditures or expenses. The
various funds and account groups are summarized by type in the
financial statements. Fund types and account groups used by the
City are as follows:
GOVERNMENTAL FUND TYPES;
Governmental funds are used to account for the City's expendable
financial resources and related liabilities (except those accounted
for in proprietary and similar trust funds). The measurement focus
is based upon determination of changes in financial position. The
following are the City's governmental fund types:
General Fund
The general fund is the general operating fund of the City. It is
used to account for all financial resources except those required
to be accounted for in another fund.
Special Revenue Funds
Special revenue funds are used to account for revenues derived from
specific sources (other than major capital projects) that are
restricted by law or administrative regulation to expenditures
for specified purposes.
Debt Service Funds
Debt service funds are used to account for the accumulation of
resources for, and payment of, general long-term debt principal,
interest and related costs.
Capital Projects Funds
Capital projects funds are used to account for financial resources
to be used for the acquisition or construction of major capital
facilities other than those financed by proprietary funds.
47 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(1) Summary of Significant Accounting Policies. Continued
(b) Basis of Presentation. Continued
PROPRIETARY FUND TYPES;
Proprietary funds are used to account for activities that are similar
to those found in the private sector. The measurement focus is
based upon determination of net income and capital maintenance.
The following are the City's proprietary fund types:
Enterprise Funds
Enterprise funds are used to account for operations (a) that are
financed primarily through user charges, or (b) where the
governing body has decided that determination of net income is
appropriate.
Internal Service Funds
Internal Service funds are used to account for goods or services
provided by one department to other departments of the City on a
cost-reimbursement basis.
FIDUCIARY FUND TYPE;
Fiduciary funds are used to account for assets held by the City in a
trustee capacity or as an agent for individuals, private
organizations, other governmental units, and/or other funds. The
following is the City's fiduciary fund type:
Agency Funds
Agency funds are used to account for assets held by the City in an
agency capacity for individuals and private businesses. They do
not involve measurement of results of operations.
ACCOUNT GROUPS:
Account groups are used to establish accounting control and
accountability for the City's general fixed assets and general
long-term debt. The following are the City's account groups:
48 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(1) Summary of Significant Accounting Policies. Continued
(b) Basis of Presentationt Continued
ACCOUNT GROUPS. Continued:
General Fixed Assets Account Group
This account group is used to account for all fixed assets of the
City other than those accounted for in the proprietary funds.
General Long-term Debt Account Group
This account group is used to account for all long-term obligations
of the City except those accounted for in the proprietary funds
and trust funds.
(c) Measurement Focus and Basis for Accounting
Governmental 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
provides an indication of available, spendable resources.
Operating statements for governmental fund types report increases
(revenues) and decreases (expenditures) in available, spendable
resources.
The proprietary fund types are accounted for on an "income
determination" or "cost of services" measurement focus.
Accordingly, all assets and liabilities are included on the balance
sheet, and the reported fund equity provides an indication of the
historical net worth of the fund. Operating statements for
proprietary fund types report increases (revenues) and decreases
(expenses) in total historical net worth.
Fiduciary fund types are custodial in nature (assets equal
liabilities) and do not involve measurement of results of
operations.
Governmental fund types use the modified accrual basis of
accounting. Revenues are recognized when susceptible 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. In applying the susceptible
to accrual concept to intergovernmental revenues, the legal and
contractual requirements of the individual programs are used as
guidance.
49 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(1) Summary of Significant Accounting Policies. Continued
(c) Measurement Focus and Basis for Accounting. Continued
Revenues that are accrued include real property taxes, sales tax,
interest, and some state and federal grants.
Real property taxes are levied on October 15 against owners of record
at March 1. The taxes are due in two installments, on November 1
and February 1, and become delinquent after December 10 and
April 10, respectively. Tax liens attach annually as of 12:01 a.m.
on the first day of March in the fiscal year for which the taxes
are levied. Under the provisions of NCGA interpretation 3,
property tax revenue is recognized in the fiscal year for which the
taxes have been levied, provided it is collected within 60 days of
the end of the fiscal year.
Governmental expenditures are recorded when the related fund
liability is incurred. Principal and interest on general long-term
debt are recorded as fund liabilities when due or when amounts have
been accumulated in the debt service fund for payments to be made
early in the following year.
Proprietary funds use the accrual basis of accounting, i.e., revenues
are recognized in the period earned and expenses are recognized in
the period incurred.
(d) Encumbrances
Encumbrance accounting, under which purchase orders, contracts and
other commitments for the expenditure of monies are recorded in
order to reserve that portion of the applicable appropriation, is
employed as an extension of formal budgetary control in the
governmental funds. Encumbrances outstanding at year-end do not
constitute expenditures or liabilities, but are reported as
reservations of fund balance.
(e) Cash and Investments
Cash includes amounts in demand and time deposits. Investments are
stated at cost or amortized cost, except for deferred compensation
assets which are shown at market value.
Carlsbad maintains a cash and investment pool that is available for
use by all funds. Interest income earned as a result of pooling is
allocated to the appropriate funds based on average monthly cash
balances.
50 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(1) Summary of Significant Accounting PoliciesT Continued
(f) Inventories
Inventories consist of materials and supplies that are valued at cost
and are recorded as expenses on a first-in, first-out basis when
consumed.
(g) Compensated Absences
Vacation pay is payable to employees at the time used or upon
termination of employment. For governmental funds, the cost of
accumulated vacation expected to be paid in the next 12 months is
recorded as a fund liability and amounts expected to be paid after
12 months (if any) are recorded in the general long-term debt
account group. For proprietary funds, the cost of vacation is
recorded as a liability when earned.
(h) Risk Management
The City accounts for its general liability, workers' compensation
and health insurance activities in internal service funds. The
funds are responsible for collecting premiums from other City funds
and departments and paying claims settlements and insurance
premiums. Interfund premiums are based on the insured funds'
claims experience. Incurred but not reported claims are accrued at
year-end if material.
(i) Unbilled Services
Unbilled water revenue of the enterprise funds is recognized as
earned when the water is consumed.
(j) General Fixed Assets
General fixed assets are recorded as expenditures in the governmental
fund types and capitalized at historical cost in the general fixed
assets account group. In the case of gifts or contributions, such
assets are recorded at fair market value at the time received.
51 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(1) Summary of Significant Accounting Policies. Continued
(j) General Fixed Assets. Continued
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,
the objective of stewardship for capital expenditures is satisfied
without recording these assets.
In the general fixed assets account group, construction in progress
is transferred to buildings or improvements upon approval by the
City Council, which approximates the completion date.
No depreciation has been provided on general fixed assets,
(k) Property. Plant and Equipment - Proprietary Funds
Property, plant and equipment used by proprietary funds is stated at
cost or estimated historical cost. Contributed fixed assets are
recorded at estimated fair market value at the time received. Net
interest costs are capitalized on projects during the construction
period.
Depreciation is charged to operations using a straight-line method
based on the estimated useful life of the related asset. The
estimated useful lives of the assets are as follows:
Years
Buildings and improvements 10 - 50
Wells, reservoirs and dams 10 - 100
Transmission and distribution lines 40 - 70
Sewer, sewer lines and wells 50
Sewage treatment facility 55
Filters, pumps and fire hydrants 10 - 50
Equipment 4 - 20
(1) Deferred Revenue
The deferred revenue in the General Fund represents property taxes
due but not available.
The deferred revenue in the Debt Service Funds relates to a
prepayment of lease revenue from the General Fund to the Building
Authority and property taxes due but not available.
52 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(1) Summary of Significant Accounting Policiest Continued
(1) Deferred Revenue. Continued
The deferred revenue in the Capital Projects Fund relates to funds
received and to be applied toward future construction.
The deferred revenue in the Enterprise Funds relates to deposits or
in-kind prepayments for services to be rendered (e.g., sewer
installation, etc.).
(m) Statement pf Cash Flows - Proprietary Funds
For purposes of the statement of cash flows, the Proprietary Funds
consider all highly liquid investments with an original maturity of
three months or less when purchased and all amounts invested in a
cash and investment pool to be cash equivalents.
(n) Total Columns
Total columns on the combined statements are captioned "Memorandum
Only" to indicate that they are presented only to facilitate
financial analysis. Data in these columns do not present financial
position, results of operations, or cash flows in conformity with
generally accepted accounting principles. Such data is not
comparable to a consolidation since interfund eliminations have not
been made.
(2) Budgetary Data
The City follows these procedures in establishing its budgetary data:
1. During May or June, the City Manager submits to the City Council a
proposed operating budget for the fiscal year commencing the
following July 1. The budget includes proposed expenditures and
estimated revenues on a departmental basis.
2. Public hearings are conducted at City Council meetings to obtain
citizens' comments during June.
3. Prior to July 1, the budget is enacted legally through passage of
an appropriation resolution.
The City Manager is authorized to make transfers of appropriated amounts
within a fund and function for up to $25,000. Revisions that alter the
total appropriations of any fund or function must be approved by the
City Council. A mid-year budget review is conducted each year. Any
major changes to the adopted budget are approved by the City Council at
that time. During the year, several supplementary appropriations were
necessary.
53 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(2) Budgetary Data, Continued
Budgets for governmental type funds are adopted on the modified accrual
basis, except that encumbrances are treated as budgeted expenditures in
the year purchases are committed. Expenditures may not exceed budgeted
appropriations at the departmental level. Unencumbered appropriations
lapse at year-end.
For purposes of budgetary presentation, actual generally accepted
accounting principal (GAAP) expenditures have been adjusted to include
encumbrances outstanding at year-end. Annual budgets are adopted for
the General, Special Revenue, and Debt Service Funds except for the
following: Mortgage Revenue Bonds, Building Authority, College
Boulevard, Hosp Grove OOP's, Parking Authority, and Redevelopment
Bonds. Accordingly, the revenues and expenditures for these funds have
been excluded from the budget basis financial statements. Annual
budgets are not adopted for the Capital Projects Funds; therefore,
budget basis financial statements have not been prepared because a
comparison of such budgetary amounts to annual revenues and
expenditures is not meaningful.
The following schedule is a reconciliation of the budgetary and GAAP fund
balances:
Special Debt
General Revenue Service
Fund Funds Funds
Fund balance-budgetary basis $ 13,986,172 3,957,529 127,115
Encumbrances outstanding at
year-end 948,530 289,799
Fund balances of nonbudgeted funds - 50.433 4.967,302
Fund balance-GAAP basis $ 14.934.702 4.297.761 5.094.417
(3) Risk Management
The City is exposed to various risks of loss related to theft of, damage
to, and destruction of assets; errors and omissions; injuries to
employees; and natural disasters.
The City is self-insured for general liability claims incurred from 1986
through the first half of the fiscal year ended June 30, 1991.
Effective January 1, 1991, the City became a participating member of
the California Municipal Insurance Authority (CMIA) risk-management
pool. Under this program, the pool provides coverage for up to a
maximum of $5,000,000 per claim with a self-insured retention to be
54 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(3) Risk Management, Continued
provided by the City in the amount of $500,000 per claim. In addition,
excess general liability insurance coverage up to $10,000,000 is
provided for catastrophic losses. Under the terms of the agreement
with CMIA, the City must maintain an unencumbered portion of fund
equity equal to $1,500,000 in the General Liability Self-Insurance Fund.
(4) Cash and Investments
Each participating fund's portion of the City's cash and investment pool
is displayed on the combined balance sheet as "Cash and Investments."
This category also includes some cash and investments that are held
separately by several of the City's funds, including the Carlsbad
Municipal Water District and certain funds of the Carlsbad
Redevelopment Agency.
Authority for Deposits and Investments;
The City's investment policy and state statutes authorize the City to
invest in obligations of the U.S. Treasury, its agencies and
instrumentalities, commercial paper rated A-l by Standard and Poor's
Corporation or P-l by Moody's Commercial Paper record, banker's
acceptances with a maximum maturity of 270 days, repurchase and reverse
repurchase agreements, certificates of deposit with national and state
licensed or chartered banks or federal or state savings and loan
associations, money market and mutual funds whose portfolios consist of
one or more of the foregoing investments, and the State Treasurer's
investment pool.
State statutes require that all deposits be insured or collateralized.
Depositories holding public funds on deposit are required to maintain
collateral in the form of a pool of securities with the agent of the
depository having a market value of at least 10 to 50 percent in excess
of the total amount of all public funds on deposit.
55 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(4) Cash and Investments, Continued
Authority for Deposits and Investments. Continued;
A summary of cash and investments, including investments in deferred
compensation plans, is as follows:
Deposits:
Cash
Time certificates of deposit
Investments
Less restricted portion
Unrestricted cash and investments
$ 13,801,004
11,435,408
91.762.000
116,998,412
(14.816.274)
$ 102.182.138
A summary of cash and cash equivalents is as follows:
Cash
Equity in pooled cash and investments
Local Agency Investment Fund
Mutual funds/other
Total cash and cash equivalents
Enterprise
Funds
$ 205,185
20,733,384
5,000,000
4.801.655
Internal
Service
Funds
6,790,131
$ 30.740.224 6.790.131
Deposits;
The following summary presents the amount of the City's deposits which
are fully insured or collateralized with securities held by the City
or its agent in the City's name (Category One), those deposits which
are collateralized with securities held by the pledging financial
institution's trust department or agent in the City's name (Category
Two), and those deposits which are not collateralized or are
collateralized with securities held by the pledging financial
institution or its trust department or agent but not in the City's
name (Category Three) at June 30, 1991.
56 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(4) Cash and Investments. Continued
Deposits. Continued:
Category Category Category Total Bank Carrying
One Two Three Balance Amount
3,460,783 1,660,208Cash $ 225,509 3,235,274
Cash with
fiscal
agent/
trustee - 10,076,237 2,064,559 12,140,796 12,140,796
Time certifi-
cates of
deposits 3.096.849 8.338.559 - 11.435.408 11.435.408
$ 3.322.358 21.650.070 2.064.559 27.036.987 25.236.412
Investments;
The City categorizes investments according to the level of risk assumed
by the City. Category One includes investments that are insured,
registered or held by the City's agent in the City's name. Category
Two includes uninsured and unregistered investments held by the
counterparty's trust department or agent in the City's name.
Category Three includes uninsured and unregistered investments held
by the counterparty, its trust department or its agent, but not in
the City's name. Certain investments have not been categorized
because securities are not used as evidence of the investment. These
uncategorized investments include ownership interests in the Local
Agency Investment Fund and mutual funds and similar instruments. The
summary below identifies the level of risk assumed by the City and
the total carrying amount and market value of the City's investments.
Category Category Category Un- Total Market
One Two Three categorized Investments Value
Local Agency
Investment Fund $
U.S. Government
agency obligations
U.S. Treasury
securities
Corporate notes
Bankers' acceptances
Commercial paper
Mutual funds/other
25,229,943
8,649,140
19,710,808
1,989,028
994,251
157.032
2,092,850
-
--
1,392,364
-
-
-
-_
Total $ 56.730.202 3.485.214
19,250,000 19,250,000 19,250,000
25,229,943 25,446,437
10,741,990 10,805,199
19,710,808 19,693,953
1,989,028 1,951,201
994,251 971,583
12.296.584 13.845.980 13.855.686
31.546.584 91.762.000 91.974.059
57 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(4) Cash and Investmentsr Continued
Investments. Continued;
The City has a $1,000,000 line of
liabilities. During the year ended
was not used.
(5) Propertyt Plant and Equipment
A summary of changes in the general
follows:
credit to be used for overdraft
June 30, 1991, this line of credit
fixed assets account group is as
Land
Buildings
Improvements
Furniture and
equipment
Construction
in progress
Total
Balance
July 1,
1990
$
$
20
26
2
4
54
,828
,280
,335
,311
526
,282
,726
,403
,230
,984
.406
.749
Additions
2
1
3
7
,550
158
6
,136
,959
,811
,000
,925
,129
,644
.488
.186
Balance
June 30,
Deletions 1991
23
26
2
(302,411) 5
(90.682) 4
(393.093) £1
,378
,439
,341
,146
,395
.700
,726
,328
,359
,217
,212
i££2
Construction in progress in the general fixed assets account group is
composed of the following:
Expended Balance
Project at June 30,
Authorization 1991
Advance Planning - Park Design $
Library - South Carlsbad
SW Quad Community Park Design
Fire Station 1 & 2 Remodel
Parking Land Acquisition & Facilities
Records Management System
Alta Mira Land Purchase 10 Acres
Carillo Ranch Stabilization
Holiday Park Improvement Phase II
Public Art - South Carlsbad Library
Public Art - Temp Sculpture Exhibit
Larwin Park (22.3 Acres)
Streetscape Phase IV - Sculpture Park
Alta Mira Park
Other
Committed
45,000
3,711,306
190,000
225,000
1,002,000
190,000
1,900,000
490,000
140,045
170,000
45,000
290,000
911,428
1,260,000
122,090
12,965
3,590,383
787
31,270
108,227
2,932
76,093
146,100
8,733
59,634
8,433
133,668
177,054
4,241
34.692
32,035
120,923
189,213
193,730
893,773
187,068
1,823,907
343,900
131,312
110,366
36,567
156,332
734,374
1,255,759
87.398
$ 10.691.869 4.395.212 6.296.657
58 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(5) Propertyt Plant and Equipment. Continued
There is no future financing required on any of the above noted
construction projects.
Summary of proprietary fund type property, plant and equipment at
June 30, 1991 follows:
Land, water rights, rights-of-way
Buildings and improvements
Wells, reservoirs and dams
Transmission and distribution lines
Sewer, sewer lines and wells
Sewage treatment facility
Equipment and vehicles
Construction in progress
Less accumulated depreciation
Property, plant and equipment, net
Enterprise
Funds
2,157,602
2,857,068
17,324,133
28,776,508
25,051,428
28,152,588
3,952,934
2.334.748
110,607,009
16.281.356
Internal
Service Funds
4,597,596
4,597,596
1.689.740
$ 94.325.653 2.907.856
Enterprise Fund interest is charged to expense as incurred except for
interest related to borrowings used for construction, which is
capitalized net of interest earned on construction funds borrowed.
Interest capitalization ceases when the construction project is
substantially complete. Net interest costs of $617,962 were
capitalized in the Enterprise Funds during 1991. Total interest costs
incurred and interest earned on related interest-bearing investments
acquired with proceeds of the tax-exempt borrowings were $1,806,081 and
$568,165, respectively.
The Enterprise Funds had various construction contracts in progress at
June 30, 1991 with an estimated cost to complete of approximately
$5,360,000. There is no future financing required on any of these
projects.
59 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(6) Joint Ventures
Encina Water Pollution Control Facility;\
The Encina Water Pollution Control Facility (the Facility) is a sewer
system owned jointly by the Cities of Carlsbad and Vista, the Leucadia
County Water District, the Buena Vista Sanitary District, the
Vallecitos Water District (formerly the San Marcos County Water
District) and the Encinitas Sanitary District. The Encina Waste Water
Authority is the operator and administrator of the facility and is
responsible for the management, maintenance and operations of the joint
system. Ownership percentages are determined by joint agreement at the
time the assets are acquired. As of June 30, 1991, the Cities and
Districts have the following approximate ownership interest:
City of Carlsbad 25 %
City of Vista 33
Leucadia County Water District 16
Vallecitos Water District 16
Encinitas Sanitary District 5
Buena Vista Sanitary District 5
The latest available financial statements of the Facility, dated
June 30, 1990, show the following:
Total assets $ 105,278,335
Total liabilities 6.652.360
Fund balance 98.625.975
Net change in fund balance $ 22.644.127
60 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(6) Joint Ventures, Continued
Encina Water Pollution Control Facility, Continued:
The Facility does not recognize net income or loss. Net operating
expenditures in excess of users' assessments are treated as accounts
receivable on the Facility's books and charged to users' accounts in
the following year. Conversely, users' assessments in excess of net
operating expenditures are treated as a liability and credited against
users' accounts, also in the following year. Under this basis, net
operating expenditures for the Facility totaled $5,278,418 in fiscal
year 1990. The net change in fund balance was attributed to plant
additions.
The City accounts for its portion of the Facility as a fixed asset of the
Sewer Enterprise Fund.
Encina Financing Joint Powers Authority;
The Encina Financing Joint Powers Authority (the Authority) was created
on February 1, 1989 between the City of Carlsbad, the City of Vista,
the Buena Vista Sanitation District and the Leucadia Water District.
The primary purpose of the Authority is to issue revenue bonds in order
to finance the expansion of the Facility. Repayment of the bonds will
be accomplished through payments made by each member of the Authority
pursuant to installment purchase agreements. The individual agreements
set forth the purchase price and specify the debt service requirements
for each member.
The Authority is governed by a Board of Directors, which consists of one
director appointed by each member.
In August 1989, the Authority issued $33,500,000 of revenue bonds and
executed installment purchase agreements for approximately the same
amount. The following is a table of the outstanding balance owed as of
June 30, 1991 by each member and their approximate share in the
additional capacity:
Member
Buena Vista Sanitation District
City of Carlsbad
Leucadia Water District
City of Vista
Installment
balance
$ 6,616,250
12,689,800
7,966,300
6.227.650
$ 33.500.OOP
Approximate
share
19.75%
37.88%
23.78%
18.59%
100.00%
61 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(6) Joint Ventures. Continued
Encina Financing Joint Powers Authority. Continued;
The installment payments are secured by a pledge of the revenues from
each member's wastewater system, net of a deduction for maintenance and
operation costs. Covenants within the agreements require the members
to, among other things, (1) maintain insurance on the facility, and (2)
establish wastewater rates which are sufficient to pay the operating
costs and debt service on the bonds and which will result in net
revenues equal to 1.1 times the annual installment payments due.
The City's share in the accounts of the Authority is recorded in the
Sewer Enterprise Fund. The expansion of the Facility is shown as an
addition to the fixed assets of the Sewer Enterprise Fund, similar to
the accounting for the Encina Water Pollution Control Facility joint
venture discussed previously.
(7) Retirement Plan
The City contributes to the California Public Employees Retirement System
(PERS), an agent multiple-employer public employee retirement system
that acts as a common investment and administrative agent for
participating public entities within the state of California. For the
year ended June 30, 1991, the payroll for employees covered by the PERS
was $18,983,745 for Carlsbad employees and $1,229,551 for District
employees. Total payroll for the same period was $21,643,186 and
$1,325,207 for Carlsbad and District employees, respectively.
All full-time employees are eligible to participate as members of the
PERS. Benefits vest after an employee has been a member of the plan
for five years. Employees are eligible to retire after ages 50 to 60
with 5 years of credited service. Annual retirement benefits are
determined based on age at retirement, the length of membership service
and the amount of earnings based on the highest twelve consecutive
months' average. The PERS also provides death and disability
benefits. These benefit provisions and all other requirements are
established by state statute.
Employees are required to make contributions ranging from 7 to 9 percent
of gross pay. The City is required to contribute the remaining amounts
necessary to fund the benefits for its members, using the actuarial
basis recommended by the PERS actuaries and actuarial consultants and
adopted by the PERS Board of Administration. The employee
contributions are made by the City on behalf of the employees.
62 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(7) Retirement Plan, Continued
The amount shown below as the "pension benefit obligation" (PBO) is a
standardized disclosure measure of the present value of pension
benefits, adjusted for the effects of projected salary increases and
step-rate benefits, estimated to be payable in the future as a result
of employee service to date. The measure is intended to help users
assess the funding status of the PERS on a going-concern basis, assess
progress made in accumulating sufficient assets to pay benefits when
due, and make comparisons among employers. The measure is the
actuarial present value of credited projected benefits, and is
independent of the funding method used to determine contributions to
the PERS.
The PBO was computed as part of actuarial valuations performed as of
June 30, 1990. Significant actuarial assumptions used in the valuation
include (a) a rate of return on the investment of present and future
assets of 8.5 percent a year compounded annually, (b) projected salary
increases of 5 percent a year compounded annually, attributable to
inflation, (c) additional projected salary increases of 2 percent a
year, attributable to seniority/merit, and (d) no post-retirement
benefit increases.
The total unfunded (assets in excess of) pension benefit obligation
applicable to Carlsbad and the District's employees was $2,540,142 and
$(88,617), respectively, at June 30, 1990 (the date of the latest
actuarial valuations), as follows:
Carl sbad District Total
Pension benefit obligation:
Retirees and beneficiaries currently
receiving benefits and terminated
employees not yet receiving benefits $ 16,114,907 485,676 16,600,583
Current employees:
Accumulated employee contributions
including allocated investment
earnings 10,789,924 500,674 11,290,598
Employer financed-vested 13,324,818 329,899 13,654,717
Employer financed-nonvested 1.266,000 58.549 1.324.549
Total pension benefit obligation 41,495,649 1,374,798 42,870,447
Net assets available for benefits at cost 38.955.507 1.463.415 40.418.922
Unfunded (assets in excess of)
pension benefit obligation $ 2.540.142 (88.617) 2.451.525
63 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(7) Retirement Plan, Continued
The market value of the net assets available for benefits as of June 30,
1990 was $44,175,545 and $1,659,513 for Carlsbad and the District,
respectively.
None of the total change in the PBO from the prior year resulted from
changes in benefit provisions. However, $575,963 and $27,021 of the
total change in Carlsbad's and the District's PBO, respectively, were
due to changes in actuarial assumptions.
PERS uses the Entry Age Normal Actuarial Cost Method which is a projected
benefit cost method. It takes into account those benefits that are
expected to be earned in the future as well as those already accrued.
According to this cost method, the normal cost for an employee is the
level amount which would fund the projected benefit if it were paid
annually from date of employment until retirement. PERS uses a
modification of the Entry Age Cost Method in which the employer's total
normal cost is expressed as a level percentage of payroll. PERS also
uses the level percentage of payroll method to amortize any unfunded
actuarial liabilities. The amortization period of the unfunded
actuarial liability ends on June 30, 2000.
The significant actuarial assumptions used to compute the actuarially
determined contribution requirement are the same as those used to
compute the pension benefit obligation, as previously described.
The actuarially determined employer and employee contributions applicable
to the City at June 30, 1991, based on an actuarial valuation as of
June 30, 1990 were as follows:
Carlsbad
Miscellaneous
Employees
Safety
Employees
.District
Miscellaneous
Employees
Covered Covered Covered
Contributions Payroll Contributions Payroll Contributions Payroll
Required normal cost
contribution
Amortization of the
unfunded (overfunded)
actuarial accrued
liability
Total requi red
contributions
Actual employer
contributions
Contributions made by
the City on behalf
of employees
Total actual
contributions
$ 1,828,076 15.36%1,694,870 23.93% 183,916 15.0%
(36.384) (.31)% 28.099 .40% (92.499) (7.5)%
$ 1.791.692 15.05% 1.722.96? 24.33% 91.417 7.5%
986,812 8.29% 1,232,810 17.41% 71,741 5.8%
827.807 7.00% 633.107 8.90% 63.273 5.2%
$ 1.814.619 15.29% 1.865.917 26.31% 135.014 11.0%
64 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(7) Retirement Plan, Continued
The District has a surplus related to miscellaneous employees as a result
of prior year actuarial gains. In order to maintain a level pattern of
contributions, the District has chosen not to apply it to fully offset
current year's contributions.
The following is three-year trend information which gives an indication
of the progress made in accumulating sufficient assets to pay benefits
when due:
Net assets available
for benefits as a
percentage of pension
benefit obligation
Unfunded (assets in excess
of) pension benefit
obligation as a
percentage of annual
covered payroll
Actuarially determined
employer contributions
as a percentage of
annual covered payroll
1990
93.9%
Carlsbad District
1989
93.4%
1988
93.8%
15.8% 15.1% 14.2%
10.8% 12.3% 13.9%
1990 1989 1988
106.4% 106.6% 104.3%
(8.5)% (7.4)% (4.2)%
2.4% 3.6% 4.1%
Ten-year trend information is not currently available from the California Public Employees
Retirement System; therefore, only the available information is presented.
Required Supplementary Information
Analysis of Funding Progress
(Unaudited)
Carlsbad
Net assets available for benefits,
at cost
Pension benefit obligation
Percentage funded
Unfunded pension benefit obligation
Annual covered payroll
Unfunded pension benefit obligation
as a percentage of annual
covered payroll
1990
$ 38,955,507
41,495,649
93.9%
2,540,142
16,071,500
15.8%
1989
32,905,600
35,221,700
93.4%
2,316,100
15,378,600
15.1%
1988
28,385,300
30,249,400
93.8%
1,864,100
13,170,000
14.2%
1987
23,855,500
26,158,700
91.2%
2,303,200
12,147,900
19.0%
65 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(7) Retirement Plan, Continued
Required Supplementary Information
Analysis of Funding Progress, Continued
(Unaudited)
District
1990 1989 1988 1987
Net assets available for benefits,
at cost
Pension benefit obligation
Percentage funded
Assets in excess of
pension benefit obligation
Annual covered payroll
Assets in excess of
pension benefit obligation
as a percentage of annual
covered payroll
(8) Deferred Compensation Plan
1,463,415
1,374,798
106.4%
1,217,447
1,141,723
106.6%
981,451
941,218
104.3%
823,110
749,880
109.8%
88,617
1,047,044
8.5%
75,724
1,026,090
7.4%
40,233
960,250
4.2%
73,230
825,380
8.9%
The City offers its employees a deferred compensation plan created in
accordance with Internal Revenue Code Section 457. The plan, available
to substantially all regular employees, permits them to defer a portion
of their salary until future years. Amounts deferred may not exceed
the lesser of $7,500 or 25% of a participants' "includable
compensation," as defined in the participation agreement. The deferred
compensation is not available to employees until termination,
retirement, death or unforeseeable emergency.
All amounts of compensation deferred under the plan, all property and
rights purchased with those amounts, and all income attributable to
those amounts, property or rights are (until paid or made available to
the employee or other beneficiary) solely the property and rights of
the City (without being restricted to the provisions of benefits under
the plan), subject only to the claims of the City's general creditors.
Participant's rights under the plan are equal to those of general
creditors of the City in an amount equal to the fair market value of
the deferred account of each participant.
66 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(8) Deferred Compensation Plan. Continued
The City believes it has no liability for losses under the plan but does
have the duty of due care that would be required of an ordinary prudent
investor. The City believes that it is highly unlikely that it will
use the assets to satisfy the claims of general creditors in the future.
(9) Obligations Under Capital Leases
In 1981, the City entered into an agreement with the City of Oceanside to
lease the public parking area surrounding a regional shopping area.
Under the terms of the agreement, the City agreed to pay an aggregate
amount of $700,040 including interest at 10%. The annual principal and
interest payments were $70,000 through 1991 and $1 annually for each of
the remaining forty years. In March 1991, the City exercised its
option to purchase the leasehold for $41.
In August 1987, the City entered a sale and leaseback agreement with a
financial institution for the Community Development Building.
Principal and interest payments totaling $234,529 are to be paid each
year through 1997. The City's leasehold interest of $1,602,160 has
been recorded in the City's general fixed asset account group.
The following is a summary by year of future minimum lease payments
remaining under capital leases and the present value of minimum lease
payments at June 30, 1991:
Year ending June 30.
1991 $ 234,529
1992 234,529
1993 234,529
1994 234,529
1995 234,529
Thereafter 351.793
Total minimum lease payments 1,524,438
Less amounts representing interest (349.108)
Present value of minimum lease payments $ 1.175.330
(10) Obligations Under Operating Leases
In June 1988, the City's Redevelopment Agency entered into an agreement
to lease a parking lot from a private party. The lease requires
monthly rental payments of $3,085 for twenty years. Total annual rent
expense is $37,020.
67 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(10) Obligations Under Operating Leases t Continued
In May 1990, the City's Redevelopment Agency entered into an agreement to
lease a parking lot on Carlsbad Village Drive from a private party.
The lease requires monthly rental payments of $4,350 commencing July 1,
1990 for five years. Total annual rent expense is $52,200.
The following is a schedule by year of future minimum rental payments
required under the operating leases at June 30, 1991:
Year ending June 301
1992
1993
1994
1995
1996
Thereafter
Total minimum lease payments
$ 89,220
89,220
89,220
89,220
37,020
444.240
$ 838.140
(11) Long-term Debt
The following is a summary of changes in the principal balance of the
long-term debt for the year ended June 30, 1991:
General long-term debt
account group:
Bonds
Special assessment debt with
governmental commitment
Obligations under capital
leases
Certificates of participation
Total general
long-term debt
Enterprise funds:
Bonds
Certificates of participation
Installment purchase agreement
Principal
Balance
July 1,
1990
Retire-
ments
828,000
13,310,000
12.689.800
788,000
610,000
Principal
Balance
June 30,
1991
*14,
9,
1,
,180
,045
,372
,575
,000
,000
,922
.000
595,
280,
197.
235,
,000
,000
,592
.000
13
8
1
8
,585
,765
,175
,340
,000
,000
,330
,000
$ 33.172.922 1.307.592 31.865.330
40,000
12,700,000
12.689.800
26.827.800 1.398.000 25.429.800
68 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(11) Long-term Debt. Continued
Long-term debt at June 30, 1991 is comprised of the following individual
issues:
Balance
June 30,
1991
General Long-term Debt;
1962 Series B General Obligation Sewer Bonds,
remaining interest and principal paid in July 1991 $ 100,000
1962 Series C General Obligation Sewer Bonds,
remaining interest and principal paid in July 1991 25,000
1966 Library General Obligation Bonds, principal of
$25,000 due January 1, 1992, interest payable on
July 1, and January 1 at 4.5% per annum. 25.000
General obligation bonds 150.000
1967 Carlsbad Building Authority Revenue Bonds,
principal due in amounts of $30,000 and $35,000 on
December 15 of each year through 1992, interest
payable on December 15 and June 15 at 6.0% per
annum, payable from the General Fund 65,000
1969 Carlsbad Parking Authority Revenue Bonds,
principal due in amounts ranging from $100,000 to
$125,000 on October 1 of each year through 1996,
interest payable on October 1 and April 1 at 6.4%
per annum, payable from the General Fund
550,000
69 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(11) Long-term Debt. Continued
1981 Carlsbad Parking Authority Revenue Bonds,
principal due in amounts ranging from $75,000 to
$150,000 on February 1 of each year through 2001,
interest payable on August 1 and February 1 at 8.0%
per annum, payable from the General Fund
Parking and building authorities
revenue bonds
1988 Carlsbad Housing and Redevelopment Commission Tax
Allocation Bonds, principal due in amounts ranging
from $270,000 to $595,000 on April 1 of each year
through 2003, a principal payment of $2,890,000 on
April 1, 2007, and a principal payment of $3,950,000
on April 1, 2011, interest payable on October 1 and
April 1 at rates varying from 5.5% to 7.8% per annum
Total bonds payable
1986 College Boulevard Assessment District Bonds,
principal due in amounts ranging from $300,000 to
$910,000 on September 2 of each year through 2006,
interest payable on September 2 and March 2 at rates
varying from 5.75% to 8.0% per annum
Obligations under capital leases (note 9)
1988 Carlsbad Certificates of Participation, principal
due in amounts ranging from $250,000 to $815,000 on
August 1 of each year through 2009, interest payable
on August 1 and February 1 at rates varying from
5.25% to 8.0% per annum
Total General Long-term Debt
Balance
June 30,
1991
$ 1.075.000
1.690.000
11.745.000
13,585,000
8,765,000
1,175,330
8.340.000
$ 31.865.330
70 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(11) Long-term Debt, Continued
Balance
June 30,
1991
Enterprise Fund Lone-term Debt;
1961 Carlsbad Municipal Water District Improvement
District Bonds, remaining principal and interest
paid in July 1991 $ 40,000
1988 Carlsbad Municipal Water District Certificates of
Participation, principal due in varying amounts
ranging from $645,000 to $1,425,000 on May 1 of each
year through 2004, interest payable on May 1 and
November 1 each year at rates varying from 5.6% to
7.3% per annum 12,700,000
Encina Financing Joint Powers Authority (EFJPA)
Installment Purchase Agreement, principal due in
varying amounts ranging from $274,630 to $1,049,276
on August 1 of each year from 1994 through 2014,
interest payable on February 1 and August 1 each
year at rates varying from 6.0% to 6.875% per annum 12,689,800
25,429,800
Less unamortized discount and
issuance costs (373,940)
Less current pottion (685.000)
Total Enterprise Fund
long-term debt $ 24.370.860
Reserve funds of approximately $4,300,000 are required to be held in debt
service funds to secure the payment of principal and interest on the
outstanding debt issues.
71 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(11) Long-term Debtt Continued
A portion of the Tax Allocation Bonds and the EFJPA Installment Purchase
Agreements are subject to mandatory redemption in part from sinking
fund payments. These sinking fund payments have been included in the
debt service requirements which follow.
Debt service requirements to maturity for general long-term debt are as
follows:
1992
1993
1994
1995
1996
1997-2001
2002-2006
2007-2011
Less amounts
representing
interest
Total general
long-term
debt $ 150.000
General
Obligation
Bonds
$ 153,393
--
--
-
-
153,393
3.393
Parking
and Building
Authorities
Revenue Bonds
326,000
316,650
293,200
303,000
287,000
783,000
-_
2,308,850
618.850
Tax
Allocation
Bonds
1,133,328
1,137,938
1,135,828
1,142,222
1,146,598
5,771,612
5,844,526
5.929.940
23,241,992
11.496.992
Certificates
of
Participation
871,435
866,448
865,054
866,873
866,733
4,296,020
4,268,400
2.548.800
15,449,763
7.109.763
Assessment
District
Bonds
975,430
973,180
973,815
972,175
968,290
4,822,320
4,776,800
946.400
15,408,410
6.643.410
Total
3,459,586
3,294,216
3,267,897
3,284,270
3,268,621
15,672,952
14,889,726
9.425.140
56,562,408
25.872.408
1.690.000 11.745.000 8.340.000 8.765.000 30.690.000
Debt service requirements to maturity for the enterprise funds are as
follows:
1992
1993
1994
1995
1996
1997-2001
2002-2006
2007-2011
2012-2015
Water Water Encina
District District Installment
1961-Bonds Certificates of Purchase
Payable Participation Agreement
$ 41,400 1,507,533
Total
,505,617
,504,972
1,500,672
497,460
450,879
4,434,921
844,452
844,452
1,110,706
1,108,498
1,108,730
5,531,194
5,504,692
6,557,692
3.259.035
2,393,385
2,350,069
2,615,678
2,609,170
2,606,190
12,982,073
9,939,613
6,557,692
3.259.035
41,400 19,402,054 25,869,451 45,312,905
Less amounts
representing
interest 1.400 6.702.054 13.179.651 19.883.105
Total enterprise
fund debt $ 40.000 12.700.000 12.689.800 25.429.800
72 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(11) Long-term Debt. Continued
At June 30, 1991, the City was in compliance with all significant debt
covenants.
The College Boulevard Assessment District Bonds were issued under the
provisions of the Improvement Bond Act of 1915. The bonds were issued
to finance the public infrastructure improvements project on College
Boulevard. If a delinquency occurs in the payment of the assessment
installments, the City, at the end of the fiscal year of delinquency,
has a duty to transfer to the debt service fund the amount of the
delinquency out of available funds of the City. Available funds
consist of any surplus funds of the City not required for lawful
municipal obligations. This duty of the City is continuing during the
period of delinquency, until reinstatement, redemption or sale of the
delinquent property. Even though neither the faith and credit nor the
taxing power of the City is pledged for the payment of the bonds, the
City is obligated in the manner stated above. Accordingly these bonds
have been recorded in the general long-term debt account group of the
City.
(12) Advances To and From Other Funds
The following table shows amounts advanced from funds within the City to
other funds within the City at June 30, 1991:
Advances From
General Fund
Capital Projects Funds:
General Capital
Construction Fund
Public Facilities
Construction Fund
Advances To
Capital Projects Funds:
Park Development Fund
Planned Local Drainage Fund
Bridge and Thoroughfare Fund
Community Facilities
District Fund
Redevelopment Fund
RDA II Fund
Enterprise Fund:
Solid Waste
Management Fund
Capital Projects Funds:
Traffic Impact Fees Fund
Public Facilities
Construction Fund
Redevelopment Fund
Park Development Fund
Total advances
Amount
$ 2,550,000
300,000
70,000
365,000
2,471,823
30,000
83,731
1,043,000
950,000
4,518,031
500.000
$ 12.881.585
73 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(13) Due To and From Other Funds
The following table shows amounts due from funds within the City to other
funds within the City at June 30, 1991:
Due to:
Due from:
Special Revenue Funds:
Section 8 Housing Authority
Senior Nutrition
Capital Projects Funds:
Community Development
Block Grant
State Grants
Enterprise Funds:
Water Utility
Sewer
Agency Fund -
Miscellaneous deposits
Total
General
Fund
$ 175,088
13,724
115,171
249,284
Water
Utility
Fund
-
-
Enterprise
Carlsbad
Municipal
Sewer Water District
Fund Fund
-
-
7,497
168,184 1,000,244
173.386
$ 553.267 168.184 1.173.630
(14) Fund Balances/Retained Earnings
The following is a summary of reserved and unreserved fund balances and
retained earnings as of June 30, 1991:
Fund Balances
Reserved for:
Loans receivable
Inventory
Prepaid expenditures
Debt service
Advances to other funds
Low and moderate income
housing
Rent interruption
insurance
Encumbrances
Arbitrage
Unreserved:
Designated for approved
capital projects
Undesignated
Total fund balances
Governmental Fund Types
$
$
General
44,080
79,500
5,870,554
-
131,000
948,530
7.073,664
7.861.038
7.861.038
14.934.702
Special
Revenue
164,488
152,516
1,571,058
289,799
2,177.861
144,752
1.975.148
2.119.900
4.297.761
Debt Capi tal
Service Projects
5,038,696 1,239,851
7,011,031
-
2,134,460
55.721 46.990
5.094,417 10.432.332
14,567,020
6.641.226
21.208.246
5.094.417 31.640.578
74 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(14) Fund Balances/Retained Earnings. Continued
Reserved for:
Debt service
Arbitrage
Acquisition of facilities
Unreserved:
Designated for approved capital projects
Designated for contingencies
Undesignated
Total retained earnings
Proprietary Fund Types
Internal
Enterprise Service
$ 663,850
185,317
5.579.154
6.428.321
10,673,342
1,769,549
16.332.324
28.775.215
$ 35.203.536
3.233.113
3.233.113
3.233.113
Reserves for loans receivable, inventory, prepaid expenditures and
advances to other funds are established to show that certain assets are
already committed to other purposes and are not available for
discretionary expenditures.
Reserves for debt service represent resources legally restricted to the
payment of long-term debt principal and interest maturing in future
years.
Reserves for low and moderate income housing represent monies required to
be expended on low and moderate income housing.
Reserves for rent interruption insurance represents monies required to be
set aside under a bond indenture.
Reserves for arbitrage represent arbitrage earnings to date that may
require payment to the federal government.
Reserves for encumbrances represent commitments related to unperformed
contracts for services and undelivered goods.
75 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(14) Fund Balances/Retained Earnings. Continued
Unreserved-undesignated represents the fund balance or retained earnings
remaining after reduction for reserved and designated fund balances or
retained earnings.
As of June 30, 1991, the funds with a deficit in fund balance were:
Fund Deficit
Capital projects:
Community Facilities District
Park Development
Redevelopment Project
$ 312,223
308,956
5,225,189
The City expects that the deficit in the Community Facilities District
will be funded through future Mello-Roos property taxes.
The deficit in the Park Development Fund is expected to be eliminated
through developer fees received in the future.
The deficit in the Redevelopment Project Fund is expected to be funded by
property tax increments received in the future.
(15) Changes in Contributed Capital
Contributed capital, July 1, 1990
Prior period adjustment (note 21)
Contributed capital, as adjusted
Additions:
Cash
Fixed assets
Residual equity transfer
from General Fund
Contributed capital, June 30, 1991
Enterprise
Funds
$ 69,493,467
(3.845.092)
Internal
Service
Funds
3,400,806
65,648,375 3,400,806
$
2
2
1
72
,899
,819
,080
,448
,849
,816
.190
.230
476
800
4.676
,142
,000
,948
76 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(16) Segment Information for Enterprise Funds
The City maintains five enterprise funds that provide water, sewer and
other services. Segment information for the year ended June 30, 1991,
is as follows:
Operating revenues
Operating expenses:
Depreciation and
amortization
Other
Operating income (loss)Nonoperating income, net
Net income
Contributed capital:
Beginning balance,
as adjusted
Current year additions
Ending balance
Property, plant
and equipment:
Additions
Deletions
Net working capital
Debt payable from
operating revenues
Total assets
Total liabilities
Total equity
Carlsbad
Municipal
Water District
$ 7,351,775
(763,170)
(6.919.846)
(331,241)
1.141.672
$ 810.431
31,059,870
3.067.315
Golf
Course
-
-
108.569
108.569
450,000
1.080.190
Sewer
2,959,804
(902,624)
(2,675.621)
(618,441)
923.987
305 r 546
31,713,425
2.652.350
Subtotal
10,311,579
(1,665,794)
(9.595.467)
(949,682)
2.174.228
1.224.546
63,223,295
6.799.855
$ 34.127.185
3,288,588
11.652
$ 9.509.185
$ 12.740.000
57,453,408
14.691.958
$ 42.761.450
1.530.190
527,104
1.029.294
1,670,809
11.254
1.659.555
34.365.775
7,295,334
87.514
13.263.860
12.689.800
68,800,507
15.358.461
53.442.046
70.023.150
11,111,026
99.166
23.802.339
25.429.800
127,924,724
30.061.673
97.863.051
77 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(16) Segment Information for Enterprise Funds, Continued
Operating revenues
Operating expenses:
Depreciation and
amortization
Other
Operating income (loss)Nonoperating income, net
Net income
Contributed capital:
Beginning balance, as
adjusted
Current year additions
Ending balance
Property, plant and
equipment:
Additions
Deletions
Net working capital
Debt payable from
operating revenues
Total assets
Total liabilities
Total equity
Subtotal, Solid
Carried Forward Waste
$ 10,311,579
$ 70.023.150
11,111,026
99.166
$ 23.802.339
$ 25.429.800
127,924,724
30.061.673
$ 97.863.051
Water
Utility
1,823,701
196,212
178.800
17.412
2.425.080
1,803
1.405.477
11,912,813
2.141.510
9.771,303
Total
Enterprise
Funds
12,135,280
(1,665,794)
(9.595.467)
(949,682)
2.174.228
1.224.546
63,223,295
6.799.855
(20.140)
(20,140)
17.412
(124,763)
(1.364.699)
334,239
430.383
764.622
2,425,080
(1,790,557)
(10.980.306)
(635,583)
2.642.163
2.006.580
65,648,375
6.799.855
72.448.230
11,112,829
99.166
25.225.228
25.429.800
140,033,749
32.381.983
107.651.766
(17) Assessment District Bond Issues
As of June 30, 1991, the City had four series of Assessment District
Bonds outstanding in the amount of $24,606,837. These bonds were
issued under the provisions of the Improvement Bond Act of 1911 and
1915 and were used to finance public infrastructure improvement
projects.
78 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(17) Assessment District Bond Issues. Continued
Reserve funds of approximately $2,400,000 are held to secure payment of
principal and interest on the outstanding bonds.
For the bond issuances noted above, the City is not obligated in any
manner for the payment of debt service in the event of default by the
property owners but is only acting as agent for the property owners in
collecting the assessments, forwarding the collections to bondholders,
and initiating foreclosure proceedings, if appropriate. Accordingly,
no liability for these bond issuances has been recorded in the General
Long-term Debt Account Group and all debt service transactions have
been recorded in an Agency fund.
(18) Mortgage Revenue Bonds
Single-Family Mortgage Revenue Bonds have been issued to provide funds to
purchase mortgage loans secured by first trust deeds on
newly-constructed and existing single-family residences. The purpose
of this program is to provide low interest rate home mortgage loans to
persons of low or moderate income who are unable to qualify for
conventional mortgages at market rates. Multi-Family Housing Revenue
Bonds are issued to provide construction and permanent financing to
developers of multi-family residential rental projects located in the
City to be partially occupied by persons of low or moderate income.
The balance of the revenue bonds outstanding under these programs as of
June 30, 1991 is $35,296,941.
The bonds, together with interest thereon, are limited obligations of the
City payable solely from bond proceeds, revenues and other amounts
derived solely from home mortgage and developer loans secured by first
deed of trust, irrevocable letters of credit, and irrevocable surety
bonds. In the opinion of City officials, these bonds are not payable
from any revenues or assets of the City, and neither the full faith and
credit nor the taxing power of the City of Carlsbad, the state of
California, nor any political subdivision thereof, is obligated to the
payment of the principal or interest on the bonds. Accordingly, no
liability has been recorded in the General Long-term Debt Account Group.
One of the series of the Multi-Family Housing Revenue Bonds, with a
current outstanding balance of $15,136,941, is in default due to
non-payment. The surety is paying the debt service on the bonds.
(19) Contingencies
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.
79 (Continued)
CITY OF CARLSBAD
Notes to Combined Financial Statements, Continued
(20) Post-Retirement Health Care
In addition to the pension benefits described in Note 7, the District, in
accordance with the District's Administrative Code, provides
post-retirement health care benefits to its full-time employees
(including their dependents) who voluntarily retire after the age of 50
with no less than 5 years of service and whose age combined with years
of service equals 70 or more or of who have reached the mandatory
retirement age with at least 5 years of service. Currently, one
retiree meets these eligibility requirements and is receiving benefits.
The District is to pay 100% of the premiums for health insurance which is
to be coordinated with Medicare and other benefits provided by federal
and state law, when available, to the extent it reduces the cost of
insurance premiums. Expenditures for post-retirement health care
benefits are funded on a pay-as-you-go basis. Expenditures of
approximately $1,182 were charged to expense for post-retirement health
care costs during 1991. Based on an actuarial valuation performed as
of November 1991, the District's liability for the current and past
service costs of these benefits is approximately $1,600,000.
(21) Prior Period Adjustment
In prior years, the District recorded certain fees received as
contributed capital rather than as revenues. As these transactions are
considered quasi-external, they should be accounted for as revenues to
the District. Therefore, a prior period adjustment was made as of
June 30, 1990 to reclassify the accumulation of these fees in the
amount of $3,845,092 from contributed capital to retained earnings.
80
Supplemental Data
GENERAL FOND
The general fund is used to account for resources traditionally associated
with government which are not required legally or by sound financial
management to be accounted for in another fund.
81
CITY OF CARLSBAD
General Fund
Schedule of Revenues - Budget and Actual
(Budgetary Basis)
For the year ended June 30, 1991
Taxes:
Property taxes
Property tax reimbursements
Sales and use taxes
Transient lodging taxes
Franchise taxes
Real property transfer taxes
Cigarette taxes
Trailer coach in-lieu tax
Total taxes
Licenses and permits:
Vehicle licenses (in-lieu)
Construction permits
Business licenses
License tax on new construction
Other
Total licenses and permits
Charges for services:
Engineering fees
Plan checking fees
Zoning and subdivision fees
Sales of maps and publications
Environmental impact reports
Miscellaneous planning fees
Library, park and recreation fees
Ambulance fees
Police service fees
Other
Total charges for services
Totals, carried forward
Budget
$ 13,400,000
295,000
10,000,000
3,200,000
780,000
260,000
150,000
20.000
4.310.000
Actual on
Budgetary
Basis
12,719,007
292,685
9,426,111
3,310,043
806,640
242,681
138,930
23.896
4.382.445
Variance
Favorable
(Unfavorable)
(680,993)
(2,315)
(573,889)
110,043
26,640
(17,319)
(11,070)
3.896
28.105.000 26.959.993 (1.145.007)
2,125,000
530,000
840,000
550,000
265.000
2,174,143
857,717
832,432
454,677
63.476
49,143
327,717
(7,568)
(95,323)
(201.524)
72.445
1,000,000
420,000
140,000
-
-
890,000
700,000
200,000
-
685.000
4.035.000
36.450.000
998,014
401,823
169,305
41,345
34,482
605,478
760,766
218,385
120,565
49.682
3.399.845
34.742.283
(1,986)
(18,177)
29,305
41,345
34,482
(284,522)
60,766
18,385
120,565
(635.318)
(635.155)
(1.707.717)
82
Actual on Variance
Budgetary Favorable
Budget Basis (Unfavorable)
Totals, brought forward $ 36.450.000 34.742.283 (1.707.717)
Fines and forfeits:
Vehicle code fines 530,000 508,596 (21,404)
Other - 7.150 7.150
Total fines and forfeitures 530,000 515,746 (14T254)
Interest income 2.OOP.OOP 2.161.589 161.589
Miscellaneous:
Property rental - 139,9P3 139,903
Sale of property - 5,259 5,259
Interdepartmental services 1,625,000 1,783,005 158,005
Reimbursed expenditures 525,000 673,288 148,288
Other - 514.068 514.068
Total miscellaneous 2.150.OOP 3.115.523 965.523
Total revenues . $ 41.13P.QOO 40.535.141 (594.859)
83
CITY OF CARLSBAD
General Fund
Schedule of Expenditures - Budget and Actual
(Budgetary Basis)
For the year ended June 30, 1991
Budget
Actual on
Budgetary
Basis
Variance
Favorable
(Unfavorable)
General government:
City council
City manager
City clerk
Community assistance
City attorney
Finance
City treasurer
Purchasing
Personnel
Research and analysis group
Administration
Information systems
Risk management/insurance
Lease
Building maintenance
Development processing service
Community development
Planning
Senior citizens programs
Weed abatement
Contingency
Other
Total general government
Public safety:
Police protection
Fire protection
Civil defense
Building inspection
Total public safety
Totals, carried forward
156,136
604,244
36,600
82,458
443,585
1,272,315
79,556
388,068
1,068,857
509,901
692,188
277,818
264,816
300,000
1,488,473
921,972
660,612
2,767,026
325,571
591,814
54,924
207.799
152,809
531,463
26,993
82,430
422,166
1,017,312
70,812 •
353,034
975,529
387,631
626,324
277,818
214,356
70,041
1,147,391
836,605
542,033
2,210,017
237,058
-
35,407
433.023
3,327
72,781
9,607
28
21,419
255,003
8,744
35,034
93,328
122,270
65,864
-
50,460
229,959
341,082
85,367
118,579
557,009
88,513
591,814
19,517
(225.224)
13.194.733 10.650.252
9,241,376
6,371,002
176,634
1.135.675
16.924.687
30.119.420
8,684,968
6,356,851
166,444
967.662
16.175.925
26.826.177
2.544.481
556,408
14,151
10,190
168.013
748.762
3.293.243
84
Actual on Variance
Budgetary Favorable
Budget Basis (Unfavorable)
Totals, brought forward $ 30.119.420 26.826.177 3.293.243
Public works:
Engineering 2,789,973 2,488,034 301,939
Streets 3,037,748 2,461,485 576,263
Maintenance 699.728 658.198 41.530
Total public works 6.527.449 5.607.717 919.732
Culture and recreation:
Library 2,709,350 2,500,759 208,591
Parks and recreation 4,265,935 4,092,611 173,324
Civic arts 278.083 277.162 921
Total culture and recreation 7.253.368 6.870.532 382.836
Total expenditures $ 43.900.237 39.304.426 4.595.811
85
SPECIAL REVENUE FUNDS
Civic Arts Program
To account for transfers from the General Fund to support the civic arts
program.
Community Development Block Grant
To account for federal block grants for commercial and residential loans for
community development.
Federal Grants
To account for federal grants received to support the City's National
Endowment for the Arts grant and Bilingual Library program.
Library Audio—Visual Insurance
To account for revenues and expenditures on rental of audio-visual material.
Low and Moderate Income Housing
To account for money administered by the Carlsbad Redevelopment Agency for
designated low and moderate income housing.
Mortgage Revenue Bonds
To account for money available to the City for expenditures incurred due to
Mortgage Revenue Bonds.
Police Asset Forfeiture
To account for money received by the City under a federal program distributing
property confiscated from illegal activities.
Section 8 Housing Authority
To account for federal grants for low and moderate income housing supplemental
payments.
Senior Nutrition
To account for money received and expenditures for senior programs under the
Older Americans Act.
86
Special Benefit Districts
To account for revenues and expenditures from property tax assessments for
street lighting and landscaping.
State Grants
To account for state of California grants including California Arts Council
Artists-in-Residence, CLSA and Library Literacy.
87
CITY OF CARLSBAD
Special Revenue Funds
Combining Balance Sheet
June 30, 1991
Assets
Cash and investments
Receivables:
Loans
Taxes
Accounts, net
Accrued interest
Due from other governments
Prepaid expenditures
Total assets
Liabilities and Fund Balance
Liabilities:
Accounts payable
Accrued wages payable
Due to other funds
Due to other governments
Deferred revenue
Total liabilities
Fund balance:
Reserved for loans receivable
Reserved for prepaid expenditures
Reserved for low and moderate income housing
Reserved for encumbrances
Unreserved:
Designated for approved capital projects
Undesignated
Total fund balance
Total liabilities and fund balance
Civic
Arts
Program
$ 318,470
5,673
* 324.143
406
406
149,485
144,752
29.500
323.737
$ 324.143
88
Community
Development
Block
Grant
516,299
37,113
Federal
Grants
22,181
Library
Audio-
Visual
Insurance
81,986
363 1,460
Low and
Moderate
Income
Housing
1,537,656
127,375
6,015
27,387
Mortgage
Revenue
Bonds
49,550
883
553.412 22.544 83.446 1.698.433 50.433
1,691 1,970
1.691 1.970
37,113
801 780
127,375
1,571,058
516.299
553.412
553.412
20.052
20.853
22.544
80.696
81.476
83.446
_
1.698.433
1.698.433
50.433
50.433
89 (Continued)
CITY OF CARLSBAD
Special Revenue Funds
Combining Balance Sheet, Continued
June 30, 1991
Assets
Cash and investments
Receivables:
Loans
Taxes
Accounts, net
Accrued interest
Due from other governments
Prepaid expenditures
Total assets
Liabilities and Fund Balance
Liabilities:
Accounts payable
Accrued wages payable
Due to other funds
Due to other governments
Deferred revenue
Total liabilities
Fund balance:
Reserved for loans receivable
Reserved for prepaid expenditures
Reserved for low and moderate income housing
Reserved fpr encumbrances
Unreserved:
Designed for approved capital projects
Undesignated
Total fund balance
Total liabilities and fund balance
Police
Asset
Forfeiture
$ 181,135
3,227
$ 184.362
1,279
1.279
16,459
166.624
183.083
$ 184.362
90
Section 8
Hous ing
Authority
174,341
35,629
6,071
152.516
368.557
39,258
9,541
175,088
24,320
2.195
250.402
152,516
-
(34.361)
118.155
368.557
Senior
Nutrition
5,363
636
18,590
24.589
9,947
918
13,724
24.589
-
-
—
24.589
Special
Benefit
Districts
965,324
11,683
1,632
17,199
995.838
61,128
26,991
88.119
-
117,429
790.290
907.719
995.838
State
Grants
359,343
6,308
365.651
5,191
5.191
4,845
355.615
360.460
365.651
Total
4,211,648
164,488
17,698
37,897
62,500
24,661
152.516
4.671.408
120,870
37,450
188,812
24,320
2.195
373.647
164,488
152,516
1,571,058
289,799
144,752
1.975.148
4.297.761
4.671.408
91
CITY OF CARLSBAD
Special Revenue Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance
For the year ended June 30, 1991
Civic
Arts
Program
Revenues:
Taxes
Intergovernmental
Charges for services
Interest income
Miscellaneous
Total revenues
Expenditures:
General government
Public works
Welfare
Culture and recreation
Total expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources - operating transfers in
Excess (deficiency) of revenues
and other financing sources over
expenditures
Fund balance (deficit) at beginning of year
Fund balance at end of year
25,231
6.500
31.731
85.964
85.964
(54,233)
229.500
175,267
148.470
$ 323.737
92
Community
Development
Block
Grant
Federal
Grants
Library
Audio-
Visual
Insurance
Low and
Moderate
Income
Housing
Mortgage
Revenue
Bonds
28,212
28.212
70,000
2,112
3.254
75.366
62,532
6,303
68.835
322,234
106,083
428.317
3,645
3,819
36.052
36.052
86.696
86.696 3.819
28,212 39,314 (17,861)424,498 3,645
28,212
525.200
553.412
39,314
(18.461)
20.853
(17,861)
99.337
81.476
424,498
1.273.935
1.698.433
3,645
50.433
93 (Continued)
CITY OF CARLSBAD
Special Revenue Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance, Continued
For the year ended June 30, 1991
Revenues:
Taxes
Intergovernmental
Charges for services
Interest income
Miscellaneous
Total revenues
Expenditures:
General government
Public works
Welfare
Culture and recreation
Total expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources - operating transfers in
Excess (deficiency) of revenues
and other financing sources over
expenditures
Fund balance (deficit) at beginning of year
Fund balance at end of year
Police
Asset
Forfeiture
16,302
205.057
221.359
89,355
89.355
132,004
132,004
51.079
$ 183.083
Section 8
Housing
Authority
1,866,711
19,557
13.189
1.899.457
Senior
Nutrition
100,182
67.980
168.162
Special
Benefit
Districts
1,240,918
58,066
34.510
1.333.494
State
Grants
212,224
18,975
231.199
Total
322,234
2,249,117
1,303,450
284,486
330.490
4.489.777
1,899,847
1.899.847
177,716
177.716
1,151,200
1.151.200
144.342
144.342
93,174
1,151,200
2,077,563
353.054
3.674.991
(390)
__
(390)
118.545
118.155
(9,554)
_
(9,554)
9.554
182,294
232.059
414,353
493.366
907.719
86,857
—
86,857
273.603
360.460
814,786
461.559
1,276,345
3.021.416
4.297.761
95
CITY OF CARLSBAD
Special Revenue Funds
Combining Schedule of Revenues and Expenditures -
Budget and Actual (Budgetary Basis)
For the year ended June 30, 1991
Revenues:
Taxes
Intergovernmental
Charges for services
Interest income
Miscellaneous
Total revenues
Expenditures:
General government
Public works
Welfare
Culture and recreation
Total expenditures
Excess (deficiency) of
revenues over
expenditures
Budget
3,000
3.000
Actual on
Budgetary
Basis
25,231
6.500
31.731
Variance
Favorable
(Unfavorable)
22,231
6.500
28.731
380.201
380.201
235.449
235.449
$ (377.201) (203.718)
144.752
144.752
173.483
96
Community Development Block Grant
Actual on Variance
Budgetary Favorable
Budget Basis (Unfavorable) Budget
Federal Grants
Actual on
Budgetary
Basis
Variance
Favorable
(Unfavorable)
65,000
65.000
28,212
28.212
(65,000)
28,212
(36.788)
70,000
2,112
3.254
75.366
70,000
2,112
3.254
75.366
54.762
54.762
36.853
36.853
17.909
17.
65.000 28.212 (36.788) (54.762)38.513 93.275
97 (Continued)
CITY OF CARLSBAD
Special Revenue Funds
Combining Schedule of Revenues and Expenditures -
Budget and Actual (Budgetary Basis), Continued
For the year ended June 30, 1991
Revenues:
Taxes
Intergovernmental
Charges for services
Interest income
Miscellaneous
Total revenues
Expenditures:
General government
Public works
Welfare
Culture and recreation
Total expenditures
Excess (deficiency) of
revenues over
expenditures
Library Audio-Visual Insurance
Actual on Variance
Budgetary Favorable
Budget Basis (Unfavorable)
70,000
6,000
76.000
112.822
112.822
$ (36.822)
62,532
6,303
68.835
87.476
87.476
(18.641)
(7,468)
303
(7.165)
25.346
25.346
18.181
98
Low and Moderate Income Housing Police Asset Forfeiture
Actual on Variance
Budgetary Favorable
Budget Basis (Unfavorable) Budget
Actual on Variance
Budgetary Favorable
Basis (Unfavorable)
300,000 322,234 22,234
40,000 106,083
340.000 428.317
66,083 8,000
- 150.000
88.317 158.000
16,302
205.057
221.359
8,302
55.057
63.359
3,819 (3,819) 247,347 105,814 141,533
3.819 (3.819) 247.347 105.814 141.533
340.000 424.498 84.498 (89.347) 115.545 204.892
99 (Continued)
CITY OF CARLSBAD
Special Revenue Funds
Combining Schedule of Revenues and Expenditures
Budget and Actual (Budgetary Basis), Continued
For the year ended June 30, 1991
Revenues:
Taxes
Intergovernmental
Charges for services
Interest income
Miscellaneous
Total revenues
Expenditures:
General government
Public works
Welfare
Culture and recreation
Total expenditures
Excess (deficiency) of
revenues over
expenditures
Section 8 Housing Authority
Actual on Variance
Budgetary Favorable
Budget Basis (Unfavorable)
1,530,000
121,000
1.651.000
1,866,711
19,557
13.189
1.899.457
2,044,539 1,899,847
2.044.539 1.899.847
336,711
(101,443)
13.189
248.457
144,692
144.692
$ (393.539)(390) 393.149
100
Senior Nutrition Special Benefit Districts
Budget
156,913
60.000
216.913
Actual on
Budgetary
Basis
100,182
67.980
168.162
Variance
Favorable
(Unfavorable)
(56,731)
7.980
(48.751)
Budget
1,105,431
6,500
105.000
1.216.931
Actual on
Budgetary
Basis
1,240,918
58,066
34.510
1.333.494
Variance
Favorable
(Unfavorable)
135,487
51,566
(70.490)
116.563
171,712 177,716 (6,004)
1,757,662 1,268,629 489,033
171.712 177.716 (6.004) 1.757.662 1.268.629 489.033
45.201 (9.554) (54.755) (540.731)64.865 605.596
101 (Continued)
CITY OF CARLSBAD
Special Revenue Funds
Combining Schedule of Revenues and Expenditures -
Budget and Actual (Budgetary Basis), Continued
For the year ended June 30, 1991
State Grants
Revenues:
Taxes
Intergovernmental
Charges for services
Interest income
Miscellaneous
Total revenues
Expenditures:
General government
Public works
Welfare
Culture and recreation
Total expenditures
Excess (deficiency) of
revenues over
expenditures
Budget
172,470
1,000
173.470
Actual on
Budgetary
Basis
212,224
18,975
231.199
Variance
Favorable
(Unfavorable)
39,754
17,975
57.729
214.490 149.187 65.303
214.490 149.187 65.303
$ (41.020)82.012 123.032
102
Budget
Total
Actual on
Budgetary
Basis
Variance
Favorable
(Unfavorable)
300,000
1,924,383
1,175,431
185,500
315.000
3.900.314
322,234
2,249,117
1,303,450
280,841
330.490
4.486.132
22,234
324,734
128,019
95,341
15.490
585.818
247,347
1,757,662
2,216,251
762.275
4.983.535
109,633
1,268,629
2,077,563
508.965
3.964.790
137,714
489,033
138,688
253.310
1.018.745
(1.083.221)521.342 1.604.563
103
104
DEBT SERVICE FUNDS
Building Authority
To account for receipts received by the Building Authority from the General
Fund for payment of debt service on the 1967 Building Authority Revenue Bonds.
College Boulevard
To accumulate property assessments levied for payment of debt service on 1986
College Avenue Assessment District Bonds.
Hosp Grove OOP's
To account for payment of debt service on the 1988 Certificates of
Participation issued to purchase Hosp Grove.
Bonds
To accumulate property taxes specifically levied for payment of debt service
on the 1966 Library General Obligation Bonds.
Parking Authority
To account for receipts received by the Parking Authority from the General
Fund for payment of debt service on 1969 and 1981 Parking Authority Revenue
Bonds .
Redevelopment Bonds
To account for payment of debt service on 1988 Tax Allocation Bonds issued to
finance improvements for the Carlsbad Redevelopment Agency.
Sewer Bonds
To accumulate property taxes specifically levied for payment of debt service
on the 1962 Series B and C Sewer General Obligation Bonds.
105
CITY OF CARLSBAD
Debt Service Funds
Combining Balance Sheet
June 30, 1991
Assets
Cash and investments
Receivables:
Taxes
Accrued interest
Total assets
Liabilities and Fund Balance
Liabilities - deferred revenue
Fund balance:
Reserved for debt service
Reserved for arbitrage
Total fund balance
Total liabilities and fund balance
Building
Authority
$ 144,898
303
$ 145.201
36.000
109,201
109.201
$ 145.201
College
Boulevard
1,401,547
230,487
24.963
1.656.997
225.760
1,431,237
1.431.237
1.656.997
106
Hosp Grove Library Parking Redevelopment Sewer
OOP's Bonds Authority Bonds Bonds Total
1,454,746 16,736 759,886 1,158,765 106,598 5,043,176
- 296 - - 1,288 232,071
32.771 298 20.638 5_S 1.899 80.930
1.487.517 17.330 780.524 1.158.823 109.785 5.356.177
261.760
1,431,796 17,330 780,524 1,158,823 109,785 5,038,696
55.721 - - - - 55.721
1.487.517 17.330 780.524 1.158.823 109.785 5.094.417
1.487.517 17.330 780.524 1.158.823 109.785 5.356.177
107
CITY OF CARLSBAD
Debt Service Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance
For the year ended June 30, 1991
Building College
Authority Boulevard
Revenues:
Taxes $ - 760,329
Interest income 8.585 93.060
Total revenues 8.585 853.389
Expenditures:
Debt service:
Principal retirement 30,000 280,000
Interest and fiscal charges 9.322 695.889
Total expenditures 39.322 975.889
Excess (deficiency) of revenues over expenditures (30.737) (122,500)
Other financing sources (uses):
Operating transfers in 36,000
Operating transfers out - -
Total other financing sources 36.000 -
Excess (deficiency) of revenues and
other financing sources over
expenditures and other financing uses 5,263 (122,500)
Fund balance at beginning of year 103,938 1,553,737
Residual equity transfers in - -
Fund balance at end of year $ 109.201 1.431.237
108
Hosp Grove Library Parking Redevelopment Sewer
OOP's Bonds Authority Bonds Bonds Total
20,900 - - 123,932 905,161
86.609 1.002 66.568 65.631 1.306 322.761
86.609 21.902 66.568 65.631 125.238 1.227.922
235,000 20,000 175,000 255,000 115,000 1,110,000
640.982 1.264 133.711 877.352 2.946 2.361.466
875.982 21.264 308.711 1.132.352 117.946 3.471.466
(789.373) 638 (242.143) (1.066.721) 7.292 (2.243.544)
1,268,061 - 174,200 1,136,057 - 2,614,318
(158.534) - - (88.476) - (247.010)
1.109.527 - 174.200 1.047.581 - 2.367.308
320,154 638 (67,943) (19,140) 7,292 123,764
1,034,164 16,692 848,467 1,177,963 102,493 4,837,454
133.199 - - - - 133.199
1.487.517 17.330 780.524 1.158.823 109.785 5.094.417
109
CITY OF CARLSBAD
Debt Service Funds
Combining Schedule of Revenues and Expenditures
Budget and Actual (Budgetary Basis)
For the year ended June 30, 1991
Library Bonds
Revenues:
Taxes
Interest income
Total revenues
Expenditures:
Debt service:
Principal retirement
Interest and fiscal charges
Total expenditures
Excess of revenues over expenditures
Budget
$ 23,000
100
23.100
20,000
1.264
21.264
$ 1.836
Actual on
Budgetary
Basis
20,900
1.002
21.902
20,000
1.264
21.264
638
Variance
Favorable
(Unfavorable)
(2,100)
902
(1.198)
(1.198)
110
Budget
Sewer Bonds
Actual on
Budgetary
Basis
Variance
Favorable
(Unfavorable)Budget
Total
Actual on
Budgetary
Basis
Variance
Favorable
(Unfavorable)
126,000
l.QOO
127.000
123,932
1.306
125.238
(2,068)
306
(1.762)
149,000
1.100
150.100
144,832
2.308
147.140
(4,168)
1.208
(2.960)
115,000
2.946
117.946
9.054
115,000
2.946
117.946
7.292 (1.762)
135,000
4.210
139.210
10.890
135,000
4.210
139.210
7.930 (2.960)
111
112
CAPITAL PROJECTS FUNDS
Assessment Districts
To account for capital projects financed by issuance of assessment district
bonds.
Bridge and Thoroughfare
To account for receipt of fees charged to developers in the bridge and
thoroughfare district.
Capital Construction
To account for transfers from the General Fund for various municipal capital
projects.
Community Development Block Grants
To account for federal block grants for community development.
Community Facilities District
To account for capital projects financed by Community Facility District
(Mello-Roos) funding.
County Airport Road Project
To account for receipt of San Diego County funds for improvements adjacent to
McClellan-Palomar Airport.
Federal Grants
To account for Federal Aid Urban grant from the federal government.
Gas Tax
To account for receipts and expenditures of money apportioned under Streets
and Highways Code Section 2105, 2106, 2107 and 2107.5 of the state of
California.
113
Marron Road Improvement
To account for street improvement project financed by 1988 Certificates of
Participation.
Park Development
To account for receipts of fees charged to developers for park acquisition and
development.
Planned Local Drainage Facilities
To account for receipts of fees charged to developers for drainage facilities
necessitated by growth.
Public Facilities Construction
To account for receipts of fees charged to developers for specific capital
projects necessitated by growth.
Redevelopment Area II
To account for the costs of a feasibility study on establishing a second
redevelopment area.
Redevelopment Bond Project
To account for capital projects financed by 1988 Carlsbad Redevelopment Agency
Tax Allocation Bonds.
Redevelopment Project
To account for financial resources segregated for the rehabilitation of
commercial and public property located in the Carlsbad Village area.
Revenue Sharing
To account for revenue sharing grants from the federal government.
114
Sales Tax/TransNet
To account for receipts of County sales taxes allocated by the San Diego
County Regional Transportation Commission to finance transportation projects.
State Grants
To account for capital projects financed by state grants including Local
Transportation Funds, Carrillo Ranch and Carlsbad Boulevard Shore Protection.
Traffic Impact
To account for receipts of fees charged to developers for street construction
and improvement.
115
CITY OF CARLSBAD
Capital Projects Funds
Combining Balance Sheet
June 30, 1991
Assets
Cash and investments
Receivables:
Taxes
Accounts, net
Accrued interest
Due from other governments
Advances to other funds
Total assets
Liabilities and Fund Balance
Liabilities:
Accounts payable
Accrued wages payable
Due to other funds
Advances from other funds
Deferred revenue
Total liabilities
Fund balance (deficit):
Reserved for debt service
Reserved for advances to other funds
Reserved for encumbrances
Reserved for arbitrage
Unreserved:
Designated for approved capital projects
Undesignated
Total fund balance (deficit)
Total liabilities and fund balance
Assessment
Districts
$ 3,612,670
18,606
$ 3.631.276
4,843
4.843
398,808
46,990
2,836,357
344.278
3.626.433
$ 3.631.276
Bridge and
Thoroughfare
2,517,959
44,848
2.562.807
212
70,000
70.212
83,070
107,568
2.301.957
2.492.595
2.562.807
116
Capital
Construction
2,782,618
25,348
6.511.031
9.318.997
Community
Development
Block Grants
150,606
150.606
Community
Facilities
District
51,854
923
52.777
County
Airport
Road
Project
595,454
10,605
606.059
8,782
8.782
35,435
115,171
150.606
365,000
365.000
6,511,031
154,658
1,956,090
688.436
9.310.215
9.318.997
8,412
(8.412)
150.606
51,420
(363.643)
(312.223)
52.777
399,891
206.168
606.059
606.059
117 (Continued)
CITY OF CARLSBAD
Capital Projects Funds
Combining Balance Sheet, Continued
June 30, 1991
Assets
Cash and investments
Receivables:
Taxes
Accounts, net
Accrued interest
Due from other governments
Advances to other funds
Total assets
Liabilities and Fund Balance
Liabilities:
Accounts payable
Accrued wages payable
Due to other funds
Advances from other funds
Deferred revenue
Total liabilities
Fund balance (deficit):
Reserved for debt service
Reserved for advances to other funds
Reserved for encumbrances
Reserved for arbitrage
Unreserved:
Designated for approved capital projects
Undesignated
Total fund balance (deficit)
Total liabilities and fund balance
Gas Tax
$ 1,794,715
52,606
$ 1.847.321
4,205
4.205
91,480
30,982
1.720.654
1.843.116
$ 1.847.321
118
Park
Development
Planned
Local
Drainage
Facilities
Public
Facilities
Construction
2,698,024 2,130,127 11,814,558
Redevelopment Redevelopment
Area II Bond Project
31,962 3,359,442
48,053
2.746.077
37,940
2.168.067
210,405
500.000
12.524.963
569
32.531 3.359.442
5,033 57,216 53,480 109,008
3,050,000
3.055.033
300,000
357.216
950,000
1.003.480
30,000
30.000 109.008
6,040 68,801
500,000
402,336 581,881
(314.996)
(308.956)
2.746.077
1,119,959
622.091
1.810.851
2.168.067
5,838,650
4.780.497
11.521.483
12.524.963
2.531
2.531
32.531
2,021,472
647.081
3.250.434
3.359.442
119 (Continued)
CITY OF CARLSBAD
Capital Projects Funds
Combining Balance Sheet, Continued
June 30, 1991
Assets
Cash and investments
Receivables:
Taxes
Accounts, net
Accrued interest
Due from other governments
Advances to other funds
Total assets
Liabilities and Fund Balance
Liabilities:
Accounts payable
Accrued wages payable
Due to other funds
Advances from other funds
Deferred revenue
Total liabilities
Fund balance (deficit):
Reserved for debt service
Reserved for advances to other funds
Reserved for encumbrances
Reserved for arbitrage
Unreserved:
Designated for approved capital projects
Undesignated
Total fund balance (deficit)
Total liabilities and fund balance
Redevelopment
Project
$ 1,729,096
24,061
31,432
$ 1.784.589
2,004
17,920
6,989,854
7T009.778
1,239,851
10,959
(6.475.999)
(5.225.189)
1.784.589
120
Sales Tax/ State Traffic
TransNet Grants Impact Total
750,008 11,263 3,281,518 37,161,268
- - - 24,061
- - - 25,348
13,702 2,802 58,447 530,938
285,880 - 436,486
- 7.011.031
763.710 299.945 3.339.965 45.189.132
65,174 2,475 58 347,925
- - - 17,920
249,284 - 364,455
1,043,000 12,797,854
- 20.400 20.400
65.174 251.759 1.063.458 13.548.554
- 1,239,851
- - - 7,011,031
94,127 32,697 149,771 2,134,460
- - 46,990
200,000 15,489 40,562 14,567,020
404.409 - 2.086.174 6.641.226
698.536 48.186 2.276.507 31.640.578
763.710 299.945 3.339.965 45.189.132
121
CITY OF CARLSBAD
Capital Projects Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance
For the year ended June 30, 1991
Assessment Bridge and
Districts Thoroughfare
Revenues:
Taxes $ -
Intergovernmental - -
Charges for services - 499,629
Interest income 139,247 176,593
Contributions from property owners 16,405,203 -
Miscellaneous 147t541 -
Total revenues 16.691.991 676.222
Expenditures:
Current:
General government 108,261
Capital outlay 14,392,086 857,513
Debt service - interest and fiscal charges - -
Total expenditures 14.500.347 857.513
Excess (deficiency) of revenues over
expenditures 2.191.644 (181.291)
Other financing sources (uses):
Operating transfers in 84,800 -
Operating transfers out - -
Total other financing sources (uses) 84.800 -
Excess (deficiency) of revenues and other
financing sources over expenditures
and other financing uses 2,276,444 (181,291)
Fund balance (deficit) at beginning of year 1,349,989 2,673,886
Residual equity transfers in - -
Residual equity transfers out - -
Fund balance (deficit) at end of year $ 3.626.433 2.492.595
122
Capital
Construction
Community
Development
Block Grants
Community County Airport
Facilities Road Federal
District Project Grants
326,999
341,591
110,759
53.497
505.847 326.999
1,622
1.622
300,000
39,277
339.277
1,534,216
27
822
1.535.065
493,727
493.727
12.120
1,815,845
(159.801)
1.656.044
64,410
220,941
285.351
41.648
122,961
122.961
(121.339)
47
47
339.230
59,431
59.431
1.475.634
(807)
(807)
1,668,164
7,412,197
229,854
9.310.215
41,648
(41,648)
(121,339)
(190.884)
(312.223)
339,230
266,829
606.059
1,474,827
(1,693,251)
218,424
123 (Continued)
CITY OF CARLSBAD
Capital Projects Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance, Continued
For the year ended June 30, 1991
Marron Road
Gas Tax Improvement
Revenues:
Taxes $ 958,582
Intergovernmental - -
Charges for services -
Interest income 203,733 28,456
Contributions from property owners
Miscellaneous - 131.093
Total revenues 1.162.315 159.549
Expenditures:
Current:
General government
Capital outlay 380,654 56,520
Debt service - interest and fiscal charges - -
Total expenditures 380.654 56.520
Excess (deficiency) of revenues over
expenditures 781.661 103.029
Other financing sources (uses):
Operating transfers in -
Operating transfers out (935.000) (236.134)
Total other financing sources (uses) (935.000) (236.134)
Excess (deficiency) of revenues and other
financing sources over expenditures
and other financing uses (153,339) (133,105)
Fund balance (deficit) at beginning of year 2,214,879 266,304
Residual equity transfers in - -
Residual equity transfers out (218.424) (133.199)
Fund balance (deficit) at end of year $ 1.843.116
124
Park
Development
Planned
Local
Drainage
Facilities
Public
Facilities
Construction
Redevelopment Redevelopment
Area II Bond Project
242,954
316,758
559.712
6,453
165,918
172.371
4,739,890
825,933
(106.890)
5.458.933
2,531 262,655
262.655
2,681,515
2.681.515
393,184
393.184
4,416,423
4.416.423
469,036
5.172
474.208
(2.121.803) (220.813)1.042.510 2.531 (211.553)
(217.843)
(217.843)
(2,121,803) (220,813) 1,042,510
1,812,847 2,031,664 10,478,973
2,531 (429,396)
3,679,830
(308.956) 1.810.851 11.521.483 2.531 3.250.434
125 (Continued)
CITY OF CARLSBAD
Capital Projects Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balance, Continued
For the year ended June 30, 1991
Redevelopment Revenue
Project Sharing
Revenues:
Taxes $ 1,288,935
Intergovernmental - -
Charges for services 3,270
Interest income 123,592 18,616
Contributions from property owners - -
Miscellaneous 6.219 -
Total revenues 1,422.016 18,616
Expenditures:
Current:
General government
Capital outlay 891,064 5,272
Debt service - interest and fiscal charges 531.003 -
Total expenditures 1.422.067 5.272
Excess (deficiency) of revenues over
expenditures (51) 13.344
Other financing sources (uses):
Operating transfers in 889,203
Operating transfers out (1,718.941) -
Total other financing sources (uses) (829.738) -
Excess (deficiency) of revenues and other
financing sources over expenditures
and other financing uses (829,789) 13,344
Fund balance (deficit) at beginning of year (4,395,400) 222,256
Residual equity transfers in - -
Residual equity transfers out - (235.600)
Fund balance (deficit) at end of year $ (5.225.189) -
126
Sales Tax/ State Traffic
TransNet Grants Impact Total
- - - 2,247,517
585,000 409,742 - 3,155,957
506,498 5,998,694
73,444 11,653 237,031 2,968,677
- - - 16,515,962
- (822) - 231.460
658.444 420.573 743.529 31.118.267
- - - 295,632
738,069 386,648 223,034 26,665,164
- - - 536.175
738.069 386.648 223.034 27.496.971
(79.625) 33.925 520.495 3.621.296
2,789,848
(1.043.000) (4.311.526)
(1.043.000) (1.521.678)
(79,625) 33,925 (522,505) 2,099,618
778,161 14,261 2,799,012 29,870,789
- - - 448,278
= - - (778.107)
698.536 48.186 2.276.507 31.640.578
127
128
ENTERPRISE FUNDS
Carlsbad Municipal Water District
To account for the operation, maintenance, planning and capital facility
financing of the Carlsbad water system.
Golf Course
To account for revenues, expenses and the construction activities of the
City's proposed municipal golf course.
Sewer
To account for the operation and maintenance of the City's sewer system.
Solid Waste
To account for revenues and expenses of the City's solid waste source-
reduction and recycling programs.
Water Utility
To account for all customer service functions of the Carlsbad water system and
the payment of debt service on the Waterworks Revenue Bonds.
129
CITY OF CARLSBAD
Enterprise Funds
Combining Balance Sheet
June 30, 1991
Assets
Current assets:
Cash and investments
Receivables:
Accounts, net
Accrued interest
Due from other funds
Due from other governments
Inventory
Total current assets
Restricted assets:
Cash and investments
Accrued interest
Total restricted assets
Deferred compensation investments
Property, plant and equipment:
Land, water rights, rights-of-way
Buildings and improvements
Wells, reservoirs and dams
Transmission and distribution lines
Sewer, sewer lines and wells
Sewage treatment facility
Equipment and vehicles
Construction in progress
Total property, plant
and equipment
Less accumulated depreciation
Property, plant and equipment, net
Total assets
Carlsbad
Municipal
Water District
$ 9,129,659
883,187
1,173,630
177.317
11.363.793
3,189,196
18.826
3.208.022
1,101,849
1,677,611
1,148,943
16,111,281
24,752,639
3,266,640
743.952
47,701,066
(5.921.322)
41,779,744
$ 57.453.408
Golf Course
1,022,339
18,209
1.040.548
20,785
609.476
630,261
630.261
1.670.809
130
Sewer Solid Waste Water Utility Total
13,093,068 110,789 1,541,258 24,897,113
2,205 - 1,845,450 2,730,842
233,198 1,973 20,890 274,270
168,184 - 7,497 1,349,311
83,450 - 83,450
13.233 - 131.892 322.442
13.509.888 196.212 3.546.987 29.657.428
6,661,148 - 4,965,930 14,816,274
31.213 - 82.506 132.545
6.692.361 - 5.048.436 14.948.819
- - - 1,101,849
227,250 - 231,956 2,157,602
1,670,937 - 37,188 2,857,068
1,212,852 17,324,133
4,023,869 28,776,508
25,051,428 - - 25,051,428
28,152,588 - - 28,152,588
440,528 - 245,766 3,952,934
854.970 - 126.350 2.334.748
56,397,701 - 5,877,981 110,607,009
(7.799.443) - (2.560.591) (16.281.356)
48.598.258 - 3.317.390 94.325.653
68.800.507 196.212 11.912.813 140.033.749
131 (Continued)
CITY OF CARLSBAD
Enterprise Funds
Combining Balance Sheet, Continued
June 30, 1991
Liabilities
Current liabilities:
Accounts payable I
Accrued wages payable
Accrued interest payable
Due to other funds
Advances from other funds
Current portion of long-term debt
Deposits payable
Total current liabilities
Current liabilities payable from
restricted assets:
Current portion of long-term debt
Accrued interest payable
Total current liabilities payable
from restricted assets
Deferred compensation payable
Deferred revenue
Certificates of participation, net of
unamortized issuance costs of $373,940
Installment purchase agreement
Total liabilities
Fund equity:
Contributed capital
Retained earnings:
Reserved for debt service
Reserved for arbitrage
Reserved for acquisition of facilities
Unreserved:
Designated for approved capital projects
Designated for contingencies
Undesignated
Total fund equity
Total liabilities and fund equity
Carlsbad
Municipal
Water District
991,168
147,088
645,000
71.352
1.854.608
40,000
14.441
54.441
1,101,849
11,681,060
14.691.958
34,127,185
40,000
530,718
1,300,387
1,769,549
4.993.611
42.761.450
* 57.453.408
Golf Course
11,254
11.254
11.254
1,530,190
129.365
1.659.555
1.670.809
132
Sewer Solid Waste Water Utility Total
14,525 95,069 871,383 1,983,399
16,482 - 29,717 46,199
2,273 149,361
7,497 - 1,168,428 1,175,925
83,731 - 83,731
- - - 645,000
207.524 - 69.709 348.585
246.028 178.800 2.141.510 4.432.200
- - - 40,000
351.855 - - 366.296
351.855 - - 406.296
- - - 1,101,849
2,070,778 - - 2,070,778
- - - 11,681,060
12.689.800 - - 12.689.800
15.358.461 178.800 2.141.510 32.381.983
34,365,775 - 2,425,080 72,448,230
623,850 - - 663,850
185,317 - - 185,317
5,048,436 5,579,154
9,372,955 - - 10,673,342
- - - 1,769,549
8.894.149 17.412 2.297.787 16.332.324
53.442.046 17.412 9.771.303 107.651.766
68.800.507 196.212 11.912.813 140.033.749
133
CITY OF CARLSBAD
Enterprise Funds
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings
For the year ended June 30, 1991
Operating revenues:
Water sales
Sewer service charges
Other charges for services
Facilities revenue
Miscellaneous
Total operating revenues
Operating expenses:
Plant operations
Purchased water
Depreciation and amortization
General and administrative
Total operating expenses
Operating income (loss)
Nonoperating revenues (expenses):
Interest income
Interest expense and fees, net of
capitalized interest
Gain (loss) on disposal of assets
Property tax and rent
Miscellaneous income
Amortization of issuance costs
Total nonoperating revenues,
net
Net income
Retained earnings at beginning of year
Prior period adjustment
Retained earnings at beginning of year,
as adjusted
Retained earnings at end of year
Carlsbad
Municipal
Water District
6,306,926
871,917
172.932
Golf Course
7.351.775
1,103,330
4,455,951
763,170
1.360.565
7.683.016
(331.241)
1,044,521
(619,954)
743,815
(26.710)
1.141.672
810,431
3,978,742
3.845.092
7.823.834
$ 8.634.265
108,569
108.569
108,569
20,796
20.796
129.365
134
Sewer Solid Waste Water Utility Total
1,444,414 7,751,340
2,418,748 - - 2,418,748
11,420 - 369,405 380,825
- - 871,917
529.636 - 9.882 712.450
2.959.804 - 1.823.701 12.135.280
1,662,623 - - 2,765,953
4,165 4,460,116
902,624 - 124,763 1,790,557
1.012.998 20.140 1.360.534 3.754.237
3.578.245 20.140 1.489.462 12.770.863
(618.441) (20.140) 334.239 (635.583)
939,765 5,826 431,983 2,530,664
(2,914) (622,868)
(15,778) - 2,548 (13,230)
- - - 743,815
31,726 - 31,726
- - (1.234) (27.944)
923.987 37.552 430.383 2.642.163
305,546 17,412 764,622 2,006,580
18,770,725 - 6,581,601 29,351,864
- - - 3.845.092
18.770.725 - 6.581.601 33.196.956
19.076.271 17.412 7.346.223 35.203.536
135
CITY OF CARLSBAD
Enterprise Funds
Combining Statement of Cash Flows
For the year ended June 30, 1991
Carlsbad
Municipal
Water District
Cash flows from operating activities:
Operating income (loss) $ (331,241)
Adjustments to reconcile operating income (loss)
to net cash provided by operating activities:
Depreciation and amortization 763,170
(Increase) decrease in receivables 1,212,418
Increase (decrease) in advances and due to/due
from other funds (1,173,630)
Increase in due from other governments
(Increase) decrease in inventory 14,488
Increase (decrease) in accounts payable (75,470)
Increase (decrease) in accrued wages payable -
Net cash provided by (used in) operating activities 409.735
Cash flows from noncapital financing activities -
property taxes and rent received 743.815
Cash flows from capital and related financing activities:
Purchases of property, plant and equipment (1,663,668)
Proceeds received on disposal of assets
Principal payments on bonds (1,233,000)
Interest and other fees paid on bonds (984,328)
Contributions from other governments —
Decrease in deposits payable (80,866)
Proceeds from capital contributions 1.779.841
Net cash provided by (used in) capital
and related financing activities (2.182,021)
136
Golf Course Sewer Solid Waste Water Utility Total
(618,441)(20,140)334,239 (635,583)
(493,000)
8,592
(484.408)
902,624
1,102
(73,051)
3,051
(101,454)
(1.527)
112.304
83,731
(83,450)
95,069
75.210
124,763
(55,045)
109,497
-
(2,418)
759,797
5.001
1,790,557
1,158,475
(1,546,453)
(83,450)
15,121
686,534
3.474
1.275.834 1.388.675
743.815
(527,104) (5,498,203)
(848,722)
1.080.190
(509,157)
1.120.008
31,726
(1,803)
2,548
(163,766)
(1,875)
(11,218)
(7,690,778)
2,548
(1,396,766)
(1,834,925)
31,726
(601,241)
3.980.039
553.086 (5.736.074)31.726 (176.114)(7.509.397)
137 (Continued)
CITY OF CARLSBAD
Enterprise Funds
Combining Statement of Cash Flows, Continued
For the year ended June 30, 1991
Cash flows from investing activities:
Net decrease in restricted cash and investments
Net decrease in investments
Increase in deferred compensation payable
Increase in deferred compensation investments
Interest on investments
Net cash provided by investing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Carlsbad
Municipal
Water District
1,509,043
239,839
(239,839)
1.240.151
2.749.194
1,720,723
8.286.117
$ 10.006.840
Supplemental schedule of noncash investing and financing
activities - capital assets contributed by contractors $ 1.287.474
138
Golf Course Sewer Solid Waste Water Utility Total
3,757,247 - - 3,757,247
- - - - 1,509,043
- - - - 239,839
- - - - (239,839)
98.635 1.441.745 3.853 245.781 3.030.165
98.635 5.198.992 3.853 245.781 8.296.455
167,313 (424,778) 110,789 1,345,501 2,919,548
855.026 13.517.846 - 5.161.687 27.820.676
1.022.339 13.093.068 110.789 6.507.188 30.740.224
1.532.342 - - 2.819.816
139
CITY OF CARLSBAD
Sewer Sub-Funds
Combining Balance Sheet
June 30, 1991
Sewer Sewer
Assets Construction Operations Total
Current assets:
Cash and investments $ 10,821,581 2,271,487 13,093,068
Receivables:
Accounts, net - 2,205 2,205
Accrued interest 188,761 44,437 233,198
Due from other funds - 168,184 168,184
Inventory - 13.233 13.233
Total current assets 11.010.342 2.499.546 13.509.888
Restricted assets:
Cash and investments 6,661,148 - 6,661,148
Accrued interest 31.213 - 31.213
Total restricted assets 6.692.361 - 6.692.361
Property, plant and equipment:
Land, water rights, rights-of-way - 227,250 227,250
Buildings and improvements - 1,670,937 1,670,937
Sewer, sewer lines and wells - 25,051,428 25,051,428
Sewage treatment facility 7,638,968 20,513,620 28,152,588
Equipment and vehicles - 440,528 440,528
Construction in progress 854.970 - 854,970
Total property, plant
and equipment 8,493,938 47,903,763 56,397,701
Less accumulated depreciation - (7.799.443) (7.799t443)
Property, plant and equipment, net 8.493,938 40.104.320 48f598.258
Total assets $ 26.196.641 42.603.866 68.800.507
140
Sewer Sewer
Liabilities Construction Operations Total
Current liabilities:
Accounts payable $ - 14,525 14,525
Accrued wages payable - 16,482 16,482
Due to other funds - 7,497 7,497
Deposits payable 207.524 - 207.524
Total current liabilities 207,524 38,504 246,028
Current liabilities payable from
restricted assets - accrued
interest payable 351,855 - 351,855
Deferred revenue 2,070,778 - 2,070,778
Installment purchase agreement 12.689.800 - 12.689.800
Total liabilities 15.319.957 38.504 15.358.461
Fund equity:
Contributed capital 12,534,689 21,831,086 34,365,775
Retained earnings:
Reserved for debt service 623,850 - 623,850
Reserved for arbitrage 185,317 - 185,317
Unreserved:
Designated for approved
capital projects 9,372,955 - 9,372,955
Undesignated (11.840.127) 20.734.276 8.894.149
Total fund equity 10.876.684 42.565.362 53.442.046
Total liabilities and
fund equity $ 26.196.641 42.603.866 68.800.507
141
CITY OF CARLSBAD
Sewer Sub-Funds
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings
For the year ended June 30, 1991
Sewer Sewer
Construction Operations Total
Operating revenues:
Sewer service charges $ - 2,418,748 2,418,748
Other charges for services - 11,420 11,420
Miscellaneous 492.495 37.141 529.636
Total operating revenues 492.495 2.467.309 2.959.804
Operating expenses:
Plant operations - 1,662,623 1,662,623
Depreciation and amortization 17,533 885,091 902,624
General and administrative - 1.012.998 1,012,998
Total operating expenses 17.533 3.560.712 3.578.245
Operating income (loss) 474,962 (1,093,403) (618,441)
Nonoperating revenues (expenses):
Interest income 805,250 134,515 939,765
Loss on disposal of assets - (15.778) (15,778)
Total nonoperating income 805.250 118.737 923,987
Net income (loss) before
sub-fund transfers 1,280,212 (974,666) 305,546
Sub-fund transfers (560.487) 560.487 -
Net income (loss) 719,725 (414,179) 305,546
Retained earnings (deficit)
at beginning of year (2.377.730) 21.148.455 18.770.725
Retained earnings (deficit)
at end of year $ (1.658.005) 20.734.276 19.076.271
142
INTERNAL SERVICE FUNDS
Central Garage
To account for charges to other funds to provide fleet maintenance and
replacement.
Data Processing
To account for charges to other funds for data processing services.
General Liability Self—Insurance
To account for charges to other funds to insure for liability claims against
the City.
Health Insurance
To account for charges to other funds and from employees to provide health
insurance for full-time City employees.
Workers' Compensation
To account for charges to other funds to insure against Workers' Compensation
claims.
143
CITY OF CARLSBAD
Internal Service Funds
Combining Balance Sheet
June 30, 1991
Assets Central Garage
Current assets:
Cash and investments $ 1,304,659
Receivables:
Accounts, net 5,805
Accrued interest 25,216
Inventory 85, UP
Total current assets 1,420,820
Property, plant and equipment:
Equipment and vehicles 3,664,972
Less accumulated depreciation (1.499.367)
Net property, plant and equipment 2.165.605
Total assets $ 3.586.425
Liabilities and Fund Equity
Current liabilities:
Accounts payable 57,011
Accrued wages payable 23,891
Estimated claims payable -
Total current liabilities 80.902
Fund equity:
Contributed capital - contributed from other funds 2,182,795
Retained earnings - unreserved 1.322.728
Total fund equity 3.505.523
Total liabilities and fund equity $ 3.586.425
144
Data General Liability Health Workers'
Processing Self-Insurance Insurance Compensation Total
475,580
8,474
2,321,
2,
41,
—
289
383
344
1,321,556 1,367,047 6,790
- 8
23,533 23,993 122
- 85
,131
,188
,560
,140
484.054 2.365.016 1.345.089 1.391.040 7.006.019
932,624 - 4,597,596
(190.373) - - - (1.689.740)
742.251 - - - 2.907.856
1.226.305 2.365.016 1.345.089 1.391.040 9.913.875
4,647 4,475 - 68 66,201
16,529 - 40,420
- 403.280 147.000 1.346.913 1.897.193
21.176 407.755 147.000 1.346.981 2.003.814
584,153 1,910,000 - - 4,676,948
620.976 47.261 1.198.089 44.059 3.233.113
1.205.129 1.957.261 1.198.089 44.059 7.910.061
1.226.305 2.365.016 1.345.089 1.391.040 9.913.875
145
CITY OF CARLSBAD
Internal Service Funds
Combining Statement of Revenues, Expenses, and
Changes in Retained Earnings
For the year ended June 30, 1991
Central Garage
Operating revenues:
Charges for services $ 1,894,306
Miscellaneous 110.284
Total operating revenues 2.004.590
Operating expenses:
Depreciation and amortization 414,273
Fuel and supplies 447,265
Claims expense
General and administrative 805,574
Total operating expenses 1.667.112
Operating income (loss) 337.478
Nonoperating revenues (expenses):
Interest income 94,862
Loss on disposal of property (41f989)
Total nonoperating revenues, net 52,873
Net income (loss) before operating transfers 390f351
Operating transfers in 162,598
Operating transfers out (2,598)
Net income (loss) 550,351
Retained earnings (deficit) at beginning of year 772.377
Retained earnings at end of year $ 1.322.728
146
Data General Liability Health Workers'
Processing Self-Insurance Insurance Compensation Total
711,959 498,229 1,358,261 785,116 5,247,871
7.334 2.383 278.912 2.050 400.963
719.293 500.612 1.637.173 787.166 5.648.834
96,358 - - - 510,631
- 447,265
282,320 1,528,892 1,208,183 3,019,395
610.900 - - - 1.416.474
707.258 282.320 1.528.892 1.208.183 5.393.765
12.035 218.292 108.281 (421.017) 255.069
37,269 172,120 95,819 88,019 488,089
(5.526) - - - (47.515)
31.743 172.120 95.819 88.019 440.574
43.778 390.412 204.100 (332.998) 695.643
32,200 - - - 194,798
(295.000) (75.000) - - (372.598)
(219,022) 315,412 204,100 (332,998) 517,843
839.998 (268.151) 993.989 377.057 2.715.270
620.976 47.261 1.198.089 44.059 3.233.113
147
CITY OF CARLSBAD
Internal Service Funds
Combining Statement of Cash Flows
For the year ended June 30, 1991
Central
Garage
Cash flows from operating activities:
Operating income (loss) $ 337,478
Adjustments to reconcile operating income (loss) to net
cash provided by (used in) operating activities:
Depreciation and amortization 414,273
(Increase) decrease in receivables (17,819)
Increase in inventory (17,016)
Increase (decrease) in accounts payable 8,279
Increase in accrued wages payable ' 1,773
Increase (decrease) in estimated claims payable -
Net cash provided by (used in) operating activities 726.968
Cash flows from noncapital financing activities -
operating transfers of cash, net 160tOOO
Cash flows from capital and related financing activities:
Purchases of property, plant and equipment (418,143)
Proceeds from capital contributions -
Net cash provided by (used in) capital and
related financing activities (418.143)
Cash flows from investing activities - interest on investments 94t862
Net increase (decrease) in cash 563,687
Cash and cash equivalents at beginning of year 740.972
Cash and cash equivalents at end of year $ 1.304.659
Supplemental schedule of noncash investing and financing
activities - capital assets contributed by other funds $ 222.104
148
AGENCY FUNDS
Deferred Compensation
To account for employees' deposits in deferred compensation plans offered by
the City.
Contractors' Deposits
To account for money deposited by contractors for designated future
development.
Miscellaneous Deposits
To account for money deposited with the City for various items.
Assessment Districts
To account for the debt service transactions on assessment district bonds for
which the City is not obligated in any manner.
151
CITY OF CARLSBAD
Agency Funds
Combining Statement of Changes in Assets and Liabilities
For the year ended June 30, 1991
Deferred Compensation;
Assets:
Deferred compensation
investments
Liabilities:
Deferred compensation
payable
Contractors' Deposits;
Assets:
Cash and investments
Liabilities:
Deposits payable
Miscellaneous Deposits;
Assets:
Cash and investments
Accrued interest
Total assets
Liabilities:
Accounts payable
Due to other funds
Deposits payable
Total liabilities
Balance
July 1,
1990
$ 2.246.473
2.246.473
$ 2.162.280
$ 2.162.280
$ 5,331,654
1.746
Additions Deductions
522.104
522.104
316.062
316.062
(425.000)
(425.000)
29,616,771 (29,733,057)
4,334 (1,957)
2,182
5.331.218
$ 5.333.400
Balance
June 30,
1991
2.768.577
2.768.577
2.053.342
2.053.342
5,215,368
4.123
$ 5.333.400 29.621.105 (29.735.014) 5.219.491
2,717 (2,182) 2,717
173,386 - 173,386
15.777.673 (16.065.503) 5.043.388
15.953.776 (16.067.685) 5.219.491
15Z
Data
Processing
General
Liability
Self-
Insurance
Health
Insurance
Workers'
Compensation Total
12,035 218,292 108,281 (421,017)255,069
96,358
(2,358)
(8,505)
5,681
103.211
(20,867)
(40,417)
(854.180)
(697.172)
12,776
(35,845)
147.000
232.212
(12,945)
68
565.171
131.277
510,631
(41,213)
(17,016)
(76,420)
7,454
(142.009)
496.496
(262.800)(75.000)(177.800)
(273,923)
240.000 560.000
(692,066)
800.000
(33.923)
37.269
(156,243)
631.823
475.580
560.000
172.120
(40,052)
2.361.341
2.321.289
95.819 88.019
107.934
488.089
1
328
993
,321
,031
.525
.556
1
1
219
,147
i?67
,296
.751
.047
914
5.875
6.790
,719
,412
J31
254.038 476.142
149
150
Assessment Districts:
Assets:
Cash and investments
Accrued interest
Total assets
Liabilities:
Assessments payable
Totals - All Agency Funds;
Assets:
Cash and investments
Deferred compensation
investments
Accrued interest
Total assets
Liabilities:
Accounts payable
Due to other funds
Assessments payable
Deposits payable
Deferred compensation
payable
Balance
July 1,
1990
979,987
19.061
999.048
999.048
Additions Deductions
Balance
June 30,
1991
4,131,613 (1,447,937) 3,663,663
12.174 (19.061) 12.174
4.143.787 (1.466.998) 3.675.837
4.050.940 (1.374.151) 3.675.837
$ 8,473,921 34,064,446 (31,605,994) 10,932,373
2,246,473
20.807
2,182
999,048
7,493,498
2.246.473
Total liabilities $ 10.741.201
522,104
16.508
2,768,577
(21.018) 16.297
10.741.201 34.603.058 (31.627.012) 13.717.247
2,717 (2,182)
173,386
4,050,940 (1,374,151)
16,093,735 (16,490,503)
522.104 -
2,717
173,386
3,675,837
7,096,730
2.768.577
20.842.882 (17.866.836) 13.717.247
153
General Fixed Assets Account Grouo
General fixed assets are those fixed assets used in operations accounted for
in governmental funds. General fixed assets include all fixed assets not
accounted for in an enterprise, internal service, or trust and agency fund.
154
Land
Buildings
Improvements
Furniture and
equipment
Construction
in progress
Total
CITY OF CARLSBAD
General Fixed Asset Account Group
Schedule of General Fixed Assets by Function
June 30, 1991
General
Government
$ 3,042,035
1,735,669
381,428
2,070,418
113.246
Culture
and
Recreation
16,843,211
9,747,898
1,297,732
1,052,931
4.281.966
Public
Safety
2,150,407
14,955,761
303,189
1,767,338
Public
Works
1,343,073
-
359,010
255,530
_
Total
23,378,726
26,439,328
2,341,359
5,146,217
4.395.212
$ 7.342.796 33.223.738 19.176.695 1.957.613 61.700.842
155
CITY OF CARLSBAD
General Fixed Asset Account Group
Schedule of General Fixed Assets by Source
June 30, 1991
As of June 30, 1986 $ 27,136,537
Net additions subsequent to June 30, 1986:
General fund 13,873,741
Community development block grants 1,941,904
Other federal grants 460,587
State grants 460,358
Street lighting 8,612
Park development 6,002,401
Public facilities 9,335,329
Redevelopment 2.481.373
Total investments in general fixed assets $ 61.700.842
156
157
Annual Debt Service Reauirement
The following schedules present principal and interest debt service
requirements for the City's debt.
158
CITY OF CARLSBAD
Annual Debt Service Requirements
Fiscal
Year
1991-92
1962 SERIES B. GENERAL OBLIGATION. SEWER BONDS
Interest Due Interest Due Total Principal Due Total Annual
July 1 January 1 Interest July 1 Debt Service
$ 1.800 1.800 100.000 101.800
Fiscal
Year
1991-92
1962 SERIES C. GENERAL OBLIGATION. SEWER BONDS
Interest Due Interest Due Total Principal Due Total Annual
July 1 January 1 Interest July 1 Debt Service
469 25.000 25.469
Fiscal
Year
1991-92
1966 LIBRARY GENERAL OBLIGATION BONDS
Interest Due
July 1
*
Interest Due Total Principal Due Total Annual
January 1 Interest January 1 Debt Service
562 1.124 25.000
1967 CARLSBAD BUILDING AUTHORITY REVENUE BONDS
Fiscal
Year
1991-92
1992-93
Interest Due
December 15
* 1,950
1.050
$ 3.000
Interest Due Total Principal Due Total Annual
June 15 Interest December 15 Debt Service
1,050
1.050
3,000
1.050
4.050
30,000
35.000
65.000
33,000
36.050
69.050
159 (Continued)
CITY OF CARLSBAD
Annual Debt Service Requirements, Continued
1969 CARLSBAD PARKING AUTHORITY REVENUE BONDS
Fiscal
Year
1991-92
1992-93
1993-94
1994-95
1995-96
Interest Due
October 1
$ 17,600
14,400
11,200
8,000
4.000
Interest Due
April 1
14,400
11,200
8,000
4,000
—
Total
Interest
32,000
25,600
19,200
12,000
4.000
Principal Due
October 1
100,000
100,000
100,000
125,000
125.000
Total Annual
Debt Service
132,000
125,600
119,200
137,000
129.000
$ 52.200 37.600 92.800 550.000 642.800
1981 CARLSBAD PARKING AUTHORITY REVENUE BONDS
Fiscal
Year
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
Interest Due
August 1
$ 43,000
40,000
37,000
33,000
29,000
25,000
21,000
16,000
11,000
6.000
Interest Due
February 1
43,000
40,000
37,000
33,000
29,000
25,000
21,000
16,000
11,000
6.000
Total
Interest
86,000
80,000
74,000
66,000
58,000
50,000
42,000
32,000
22,000
12.000
Principal Due
February 1
75,000
75,000
100,000
100,000
100,000
100,000
125,000
125,000
125,000
150.000
Total Annual
Debt Service
161,000
155,000
174,000
166,000
158,000
150,000
167,000
157,000
147,000
162.000
$ 261.000 261.000 522.000 1.075.OOP 1.597.000
160 (Continued)
CITY OF CARLSBAD
Annual Debt Service Requirements, Continued
1988 CARLSBAD HOUSING AND REDEVELOPMENT
COMMISSION TAX ALLOCATION BONDS
Fiscal
Year
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
Interest Due
October 1
$ 431,664
423,969
415,414
406,111
395,799
384,261
371,531
357,559
342,159
325,296
306,681
286,332
263,870
239,550
213,330
184,830
154,050
119,925
83,070
43.095
Interest Due
April 1
431,664
423,969
415,414
406,111
395,799
384,261
371,531
357,559
342,159
325,296
306,681
286,332
263,870
239,550
213,330
184,830
154,050
119,925
83,070
43.095
Total
Interest
863,328
847,938
830,828
812,222
791,598
768,522
743,062
715,118
684,318
650,592
613,362
572,664
527,740
479,100
426,660
369,660
308,100
239,850
166,140
86.190
Principal Due
April 1
270,000
290,000
305,000
330,000
355,000
380,000
405,000
440,000
475,000
510,000
550,000
595,000
640,000
690,000
750,000
810,000
875,000
945,000
1,025,000
1.105.000
Total Annual
Debt Service
1,133,328
1,137,938
1,135,828
1,142,222
1,146,598
1,148,522
1,148,062
1,155,118
1,159,318
1,160,592
1,163,362
1,167,664
1,167,740
1,169,100
1,176,660
1,179,660
1,183,100
1,184,850
1,191,140
1.191.190
Total $ 5.748.496 5.748.496 11.496.992 11.745.000 23.241.992
161 (Coiitinued)
CITY OF CARLSBAD
Annual Debt Service Requirements, Continued
1988 CERTIFICATES OF PARTICIPATION
Fiscal
Year
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
Interest Due
August 1
$ 314,311
307,124
299,324
290,730
281,143
270,590
259,205
246 , 780
233,100
217,930
201,400
182,600
162,200
140,000
116,000
90,400
62,600
36.600
Interest Due
February 1
307,124
299,324
290,730
281,143
270,590
259,205
246 , 780
233,100
217,930
201,400
182,600
162,200
140,000
116,000
90,400
62,600
36,600
-
Total
Interest
621,435
606,448
590,054
571,873
551,733
529,795
505,985
479,880
451,030
419,330
384,000
344,800
302,200
256,000
206,400
153,000
99,200
36.600
Principal Due
August 1
250,000
260,000
275,000
295,000
315,000
330,000
355,000
380,000
410,000
435,000
470,000
510,000
555,000
600,000
640,000
695,000
750,000
815.000
Total Annual
Debt Service
871,435
866,448
865,054
866,873
866,733
859,795
860,985
859,880
861,030
854,330
854,000
854,800
857,200
856,000
846,400
848,000
849,200
851.600
Total $ 3.712.037 3.397.726 7.109.763 8.340.OOP 15.449.763
162 (Continued)
CITY OF CARLSBAD
Annual Debt Service Requirements, Continued
COLLEGE BOULEVARD ASSESSMENT DISTRICT BONDS
Fiscal
Year
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
Interest Due
September 2
$ 343,040
332,390
320,790
308,025
294,150
279,140
262,778
244,952
225,648
204,712
182,000
157,200
130,400
101,400
70,200
36.400
Interest Due
March 2
332,390
320,790
308,025
294,150
279,140
262,778
244,952
225,648
204,712
182,000
157,200
130,400
101,400
70 , 200
36,400
-
Total
Interest
675,430
653,180
628,815
602,175
573,290
541,918
507,730
470,600
430,360
386,712
339,200
287,600
231,800
171,600
106,600
36.400
Principal Due
September 2
300,000
320,000
345,000
370,000
395,000
425,000
460,000
495,000
530,000
575,000
620,000
670,000
725,000
780,000
845,000
910.000
Total Annual
Debt Service
975,430
973,18'0
973,815
972,175
968,290
966,918
967,730
965,600
960,360
961,712
959,200
957,600
956,800
951,600
951,600
946.400
Total $ 3.493.225 3.150.185 6.643.410 8.765.000 15.408.410
163 (Continued)
CITY OF CARLSBAD
Annual Debt Service Requirements, Continued
ENCINA FINANCING JOINT POWERS AUTHORITY INSTALLMENT PURCHASE AGREEMENT
Fiscal
Year
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
Total
Interest Interest Principal Sinking Fund
Payment Due Payment Due Payment Due Payment Due Total Annual
August 1 February 1 August 1 August 1 Debt Service
422,226
422,226
418,038
409,358
400,004
389,940
379,162
367,601
355,182
341,864
327,573
312,231
295,763
277,886
258,549
237,878
215,775
192,141
166,912
139,958
111,149
81,222
50,136
34.103
422,226
422,226
418,038
409,358
400,004
389,940
379,162
367,601
355,182
341,864
327,573
312,231
295,763
277,886
258,549
237,878
215,775
192,141
166,912
139,958
111,149
81,222
50,136
—
-
274,630
289,782
308,722
327,662
348,496
371,224
395,846
420,468
448,878
477,288
509,486
-
-
--
-
-
-
-
-
-
—
-
-
-
-
-
-
-
-
-
-
-
-
543,578
581,458
621,232
664,794
710,250
757,600
810,632
865,558
926,166
986,774
1.049.276
844,452
844,452
1,110,706
1,108,498
1,108,730
1,107,542
1,106,820
1,106,426
1,106,210
1,104,196
1,104,024
1,101,750
1,101,012
1,099,350
1,098,556
1,096,988
1,096,344
1,094,532
1,091,424
1,090,548
1,087,856
1,088,610
1,087,046
1.083.379
$ 6.606.877 6.572.774 4.172.482 8.517.318 25.869.451
164 (Continued)
CITY OF CARLSBAD
Annual Debt Service Requirements, Continued
1988 CARLSBAD MUNICIPAL WATER DISTRICT CERTIFICATES OF PARTICIPATION
Fiscal
Year
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
Interest
Payment Due
November 1
$ 441,264
421,268
399,348
375,623
350,049
322,411
292,491
260,061
224,886
186,724
145,144
100,375
52.014
Interest
Payment Due
Mav 1
421,269
399,349
375,624
350,049
322,411
292,491
260,061
224,886
186,724
145,144
100,375
52,013
-
Total
Interest
862,533
820,617
774,972
725,672
672,460
614,902
552,552
484,947
411,610
331,868
245,519
152,388
52.014
Principal
Payment Due
Mav 1
645,000
685,000
730,000
775,000
825,000
880,000
940,000
1,005,000
1,075,000
1,155,000
1,235,000
1,325,000
1.425.000
Total
Annual
Debt Service
1,507,533
1,505,617
1,504,972
1,500,672
1,497,460
1,494,902
1,492,552
1,489,947
1,486,610
1,486,868
1,480,519
1,477,388
1.477.014
Total $ 3.571.658 3.130.396 6.702.054 12.700.000 19.402.054
Fiscal
Year
1991-92
CARLSBAD MUNICIPAL WATER DISTRICT IMPROVEMENT DISTRICT 4 BONDS
Interest Due Interest Due Total Principal Due Total Annual
July 1 January 1 Interest July 1 Debt Service
222 700 1.400 40.000 41.4
165
166
Statistical Section
167
CITY OF CARLSBAD
General Expenditures by Function
Last Ten Fiscal Years
Fiscal
Year
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
Total (1)
18,623,122
15,463,426
16,723,893
22,279,729
36,206,852
49,443,365
41,960,153
55,745,009
53,133,603
72,999,324
is General ,
General
Government
2,852,858
2,272,174
2,551,209
3,008,056
4,124,793
5,645,325
5,988,144
7,139,089
7,920,471
10,437,609
Public
Safety
4,888,849
5,285,609
5,813,451
7,020,105
7,851,268
9,452,556
10,102,111
11,728,140
13,836,529
16,108,745
Public
Works
2,501,925
2,935,279
3,408,568
2,974,480
6,412,310
4,601,389
5,375,688
6,336,093
7,402,476
6,519,035
Culture/
Welfare Recreation
650,202 2,303,143
727,155
825,236
860,556
1,052,394
1,321,504
1,584,897
1,614,015
1,808,058
2,077,563
Special Revenue, Debt Service and Capital projects
2,573,014
2,764,121
3,278,290
3,710,505
4,530,701
5,358,475
5,808,094
7,413,870
7,183,567
Funds.
Capital
Projects
4,996,323
1,233,048
1,033,261
4,619,242
12,333,087
23,032,108
11,216,835
19,786,724
11,104,390
26,665,164
Debt
Service
429,822
437,147
358,047
519,000
722,495
859,782
2,334,003
3,332,854
3,647,809
4,007,641
GENERAL EXPENDITURES BY FUNCTION
1990-91
GENERAL GOVERNMENT 14%
$10.4
DEBT SERVICE 5%
$4
CAPITAL PROJECTS 37%
$26.7
PUBLIC SAFETY 22%
$16.1
PUBLIC WORKS 9%
$6.5
WELFARE 3%
$2.1
CULTURE/RECREATION 10%
$7.2
VALUES ARE IN MILLIONS
Source: City of Carlsbad Comprehensive Annual Financial Reports.
168
TOTAL EXPENDITURES
LAST TEN YEARS
MILLIONS OF DOLLARS
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
INCLUDES GENERAL, SPECIAL REVENUE, DEBT
SERVICE AND CAPITAL PROJECT FUNDS
SPENDING ON CAPITAL PROJECTS
LAST TEN YEARS
MILLIONS OF DOLLARS
30 -(
25-
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
169
CITY OF CARLSBAD
General Revenues by Source
Last Ten Fiscal Years
Fiscal
Year
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
(1) Includes
Total (1)
$ 16,543,575
18,314,250
23,870,285
31,272,744
37,078,236
45,626,319
42,944,962
54,565,025
57,970,453
77,371,107
General, Special
Property
Taxes
4,193,938
4,449,196
4,848,041
5,243,124
6,769,473
8,516,463
9,870,495
11,997,603
13,663,487
14,767,693
Revenue, Debt
Sales
Taxes
3,941,152
3,974,732
4,891,379
5,726,373
6,222,008
6,487,371
7,128,461
8,186,215
9,342,077
9,426,111
Transient
Occupancy
Taxes
734,344
797,526
1,007,268
1,041,947
1,157,794
1,729,998
1,995,447
2,752,025
3,630,662
3,310,043
Service and Capital Projects
Other
Taxes
901,814
1,511,333
1,969,434
2,084,724
1,807,457
1,987,299
3,217,888
2,663,619
3,129,186
2,931,058
Funds.
Busi ness
Licenses
258,663
279,973
351,875
428,546
471,470
517,972
616,278
696,706
791,715
832,432
GENERAL REVENUE
LAST TEN YEARS
MILLIONS OF DOLLARS
100
1962 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
PROPERTY TAX AND SALES TAX REVENUE
LAST TEN YEARS
MILLIONS OF DOLLARS
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
•PROPERTY TAX SSALES TAX
Source: City of Carlsbad Comprehensive Annual Financial Reports.
170
Other
Licenses
537,476
491,267
2,099,942
3, 042, 110
3,525,394
3,830,931
3,521,242
3,858,173
4,058,540
3,550,013
Intergov-
ernmental
1,875,243
2,551,262
1,777,587
2,060,542
2,924,892
5,608,869
2,506,690
2,876,536
3,267,054
5,405,074
Charges for
Services
1,969,808
2,451,708
4,747,951
8,541,600
9,814,416
12,678,062
8,770,867
7,722,568
10,728,326
10,701,989
Fines and
Forfeits
260,498
231,086
256,471
345,750
288,055
366,597
435,649
478,830
511,890
515,746
Interest
1,794,676
1,396,896
1,542,092
2,638,536
2,857,221
2,944,741
3,422,839
5,644,873
6,002,986
5,737,513
Contributions
From Property
Owners
-
-
-
-
-
-
175,593
4,529,710
402,292
16,515,962
Miscel-
Unepus
75,963
179,271
378,245
119,492
1,240,056
958,016
1,283,513
3,158,167
2,442,238
3,677,473
TRANSIENT OCCUPANCY TAX
LAST TEN YEARS
MILLIONS OF DOLLARS
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
CHARGES FOR SERVICES
LAST TEN YEARS
MILLIONS OF DOLLARS
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
171
CITY OF CARLSBAD
Ratio of General Bonded Debt to Assessed Valuation
and Net Bonded Debt Per Capita
Last Ten.Fiscal Years
Fiscal
Year
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989*90
1990-91
Net Assessed
Valuation (1)
$ 1,687,082,037
2,015,289,869
2,194,598,447
2,495,887,152
2,894,233,860
3,458,390,377
3,939,249,294
4,203,469,146
4,850,671,236
5,474,063,206
Outstanding
Principal (2)
1,145,000
1,030,000
915,000
900,000
785,000
670,000
550,000
420,000
285,000
150,000
Percent of
Total
Valuation
0.06
0.05
0.04
0.03
0.03
0.02
0.01
0.01
0.01
—
Per
Capita
Debt
32
26
23
20
16
12
9
7
4
2
Population (3)
36,172
39,037
40,665
44,566
48,872
55,282
58,888
62,030
63,451
64,264
(1) Net assessed value is stated at 100% of market value. Data from County of
San Diego Office of the Auditor and Controller.
(2) Library and sewer general obligation bonds per the City of Carlsbad
Comprehensive Annual Financial Reports.
(3) Population as of January 1 of each year per the State Department of
Finance.
RATIO OF OUTSTANDING GENERAL BONDED DEBT
TO POPULATION
PER CAPITA DEBT IN DOLLARS
$35
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
172
CITY OF CARLSBAD
Computation of Legal Debt Margin
June 30, 1991
25% of net assessed valuation (1) $ 1.368.515.802
Debt limit (15% of net assessed valuation as adjusted) 205.277.370
Amount of debt applicable to debt limit:
Bonded debt (2) 22,350,000
Certificates of participation 8,340,000
Obligations under capital leases 1.175.330
Total amount of debt applicable to debt limit 31.865,330
Legal debt margin $ 173.412.040
Percent of debt limit 15.52%
(1) Beginning January 1, 1987, a change in state law required the County
Assessor to assess all taxable property at 100% of full value as
opposed to the prior practice of assessing property at 25% of full
value. To be consistent with previous years, the assessed valuation used
for this computation is at 25% of full value.
(2) Total bonded debt:
Library and Sewer $ 150,000
Parking and Building Authorities 1,690,000
College Boulevard Assessment District 8,765,000
Tax Allocation Bonds 11,745,000
Total bonded debt , $ 22.350.000
173
CITY OF CARLSBAD
Schedule of Direct and Overlapping Bonded Debt
June 30, 1991
1990-91 Total Assessed Valuation: $5,563,445,973 (after deducting $136,692,931
redevelopment tax allocation increment)
Direct and Overlapping Bonded Debt;
San Diego County Building Authorities
San Diego County Water Authority
Metropolitan Water District
Carlsbad Unified School District
Carlsbad Unified School District Authority
Carlsbad Unified School District Community
Facilities District #1
San Marcos Unified School District and
Certificates of Participation
San Dieguito Union High School District
Encinitas Union School District and Authority
Mira Costa Community College District Authority
Other School Districts
Tri-City Hospital District
Palomar Pomerado Hospital District & Authority
Leucadia County Water District and I,
Vallecitos Water District and I.D.
Carlsbad Municipal Water District
Certificates of Participation
Carlsbad Municipal Water District, I,
Olivenhain Municipal Water District,
City of Carlsbad
City of Carlsbad Building Authorities
City of Carlsbad 1915 Act Bonds
Total direct and overlapping bonded debt
.D. #1
's #1, 2 & 6
.D. #4
I.D. #1
Applicable
4.805 %
4.981
0.802
97.227
97.203
100.000
24.228
8.411
24.691
25.407
Various
32.562
0.771
51.601 - 1.830
6.853 - 10.793
100.000
99.934
31.735
100.000
100.000
100.000
Debt
June 30,
1991
16,325,132
1,054,478
5,614,160
163,198
12,675,271
12,175,000
1,978,364
151,398
251,848
727,911
380
522,620
99,652
180,585
121,351
12,700,000
39,974
304,656
150,000 (1)
10,030,000 (2)
33.331.248
$ 108.597.226
(1) Excludes and revenue anticipation notes and tax allocation bonds.
(2) Includes City of Carlsbad Building and Parking Authorities and the Public
Improvement Corporation.
Ratios to Assessed Valuation;
Direct Debt ($10,180,000)
Total Debt
0.18%
1.95%
Share of Authorized and Unsold General Obligation Bonds;
Metropolitan Water District $398,000
Carlsbad Municipal Water District, I.D. #1 $ 98,801
Carlsbad Municipal Water District, I.D. #3 $200,000
State School Building Aid Repayable as of June 30. 1991;$199,539
Source: California Municipal Statistics, Inc.
174
CITY OF CARLSBAD
Ratio of Annual Debt Service for
General Bonded Debt to Total Governmental Expenditures
Last Ten Fiscal Years
Fiscal
Year
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
Principal Interest (4)
$ 100,000
115,000
15,000 (3)
115,000
115,000
115,000
120,000
130,000
135,000
135,000
49,160
42,797
38,022
33,723
29,727
27,505
23,179
18,556
13,728*
8,652
Total
Debt
Service (1)
149,160
157,797
53,022
148,723
144,727
142,505
143,179
148,556
148,728
143,652
Total
Governmental
Expenditures (2)
18,623
15,463
16,723
22,297
36,206
49,443
41,960
55,745
53,133
72,999
,122
,426
,893
,729
,852
,365
,153
,009
,603
,324
Ratio of Debt
Service to
Governmental
Expenditures %
0.8
1.
0,
0,
0,
0,
0,
0,
0,
0.2
(1) Debt service requirement on General Obligation Bonds comprised of 1962 Sewer
Bonds Series B and C and 1966 Library Bonds. Excludes debt service for the
Assessment District and the Building and Parking Authorities.
(2) Includes General, Special Revenue, Debt Service and Capital Projects funds.
(3) In 1983-84, the City began recording principal payments in the year they
become payable. The general obligation principal payments for the City's
Sewer Bonds are due July 1 and had previously been recorded as paid by the
City on June 30 each year.
(4) Includes interest in the fiscal year that it becomes due.
RATIO OF DEBT SERVICE TO GENERAL
EXPENDITURES
RATIO IN %
1.2%
Source:
0.0%
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
City of Carlsbad Comprehensive Annual Financial Reports.
175
CITY OF CARLSBAD
Revenue Bond Coverage
Water Bonds
Last Ten Fiscal Years
Fiscal
Year
1981-82 $
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
(3)
Gross
Revenue
2,084,262
1,934,415
1,672,564
1,371,214
1,522,383
1,532,953
1,637,819
1,760,102
2,001,832
2,258,232
(4) Net Revenue
Direct Available
Operating for Debt
Expenses Service Principal
1,620
1,945
1,557
1,119
1,317
933
1,334
1,195i,4rs
1,489
,519
,681
,173
,336
,953
,368
,525
,822
,542
,462
463,743
(11,266)
115,391
251,878
204,430
599,585
303,294
564,280
586,290
768,770
215,000
115,000
- (1)
125,000
130,000
140,000
150,000
157,000
160,000
165,000(2)
69,715
64,492
56,875
50,138
42,531
38,549
29,096
21,211
12,718
4,259
Debt Service Requirements
Interest Total Coverage
284,715
179,492
56,875
175,138
172,531
178,549
179,096
178,211
172,718
169,259
163
(6)
203
144
118
336
169
317
339
454
(1) In 1983-1984 the City began recording principal payments for the Water
Revenue Bonds in the year they became payable. In prior years principal
payments had been recorded as paid on June 30 of each year rather than
July 1 of the following year.
(2) All Water Revenue Bonds were paid in full on July 1, 1990.
(3) Includes operating and non-operating revenues.
(4) Total operating expenses including depreciation and amortization.
Source: City of Carlsbad Comprehensive Annual Financial Reports.
176
WATER ENTERPRISE GROSS REVENUE
AND DIRECT OPERATING EXPENSES
DOLLARS IN THOUSANDS (000)
$2500
$2000
1982198319841985t98619871988198919901991
FISCAL YEAR
• GROSS REVENUE S OPERATING EXPENSES
NET REVENUE AVAILABLE FOR DEBT SERVICE
LAST TEN YEARS
THOUSANDS OF DOLLARS (000)
$1000
$800
$600
$400
$200
$0
.$200
V
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
177
CITY OF CARLSBAD
Demographic Statistics
Last Ten Fiscal Years
Square
Year Miles
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1995
2000
2010
29.8
32.0
32.0
35.6
36.0
39.7
39.7
39.7
42.2
42.2
(Estimate)
(Estimate)
(Estimate)
Population (1)
36,172
39,037
40,665
44,566
48,872
55,282
58,888
62,030
63,451
64,264
77,310 (3)
84,954 (3)
100,826 (3)
Population
Percent
Change
1.6
7.9
4.2
9.6
9.7
13.
6,
5.3
2.3
1.3
,1
.5
County
Population (2)
1,924,700
1,986,035
2,041,362
2,083,359
2,166,169
2,240,659
2,327,657
2,418,176
2,509,914
2,548,728
(4)
(4)
(4)
City
Population
Percent
of County
1.9
2.0
2.8
2.1
2.3
2.5
2.5
2.6
2-5
2.5
(1) Source - State Department of Finance.
(2) Source - County Data Base, San Diego County.
(3) Population for City General Plan area - San
Governments Series VII population forecast.
(4) County future population estimate not available.
Diego Association of
POPULATION
LAST TEN YEARS
IN THOUSANDS
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
POPULATION AS OF JANUARY 1
PER STATE DEPARTMENT OF FINANCE
178
179
CITY OF CARLSBAD
Schedule of Assessed Valuation
Last Ten Fiscal Years
Fiscal
Year
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
Secured
Property
$1
2
2
2
2
3
3
4
4
5
,700
,027
,195
,487
,893
,456
,937
,197
,813
,406
,974
,411
,611
,497
,268
,419
,879
,767
,718
,790
,823
,290
,840
,173
,927
,183
,614
,148
,827
,697
Unsecured
Property
43,077,175
50,604,897
57,309,394
75,231,054
77,524,350
80,781,420
98,879,688
109,633,027
147,696,674
182,042,779
Less
Property
Exemptions
8,210
13,841
8,401
14,605
18,616
19,248
21,859
20,083
23,581
25,387
,761
,078
,587
,675
,217
,842
,608
,629
,665
,503
NET TAXABLE VALUE
LAST TEN YEARS
BILLIONS OF DOLLARS
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
Source: County of San Diego Office of the Auditor and Controller.
180
Total Net
Assessed Homeowner's Assessed
Valuation Exemptions Valuation
1,735,841,237 48,759,200 1,687,082,037
2,064,175,109 48,885,200 2,015,289,909
2,244,519,647 49,921,200 2,194,598,447
2,548,122,552 52,235,400 2,495,887,152
2,952,177,060 57,943,200 2,894,233,860
3,517,951,761 65,492,000 3,452,459,761
4,014,899,694 75,650,400 3,939,249,294
4,287,316,546 83,847,400 4,203,469,146
4,937,833,836 87,162,600 4,850,671,236
5,563,445,973 89,382,767 5,474,063,206
181
"V
CITY OF CARLSBAD
Construction and Business Activity
Last Ten Fiscal Years
Building
Fiscal
Year
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
Permit
Revenue
271,542
490,100
1,068,876
1,055,738
1,397,129
1,230,100
671,779
674,814
1,029,750
857,717
Percent
Change
(17.3)
80.5
118.1
(1.2)
32.3
(12.0)
(45.4)
.5
52.6
(16.7)
Estimated
Valuation
52,700,263
79,400,000
198,520,304
213,403,469
263,548,719
245,661,491
127,831,606
111,898,109
169,746,343
163,340,462
Business
License
Revenue
258,663
279,973
351,875
428,546
471,470
517,972
616,278
696,706
791,715
832,432
Percent
Change
4.4
8.2
25.7
21.8
10.0
9.9
19.0
13.1
13.6
5.1
ESTIMATED BUILDING VALUATION
LAST TEN YEARS
MILLIONS OF DOLLARS
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
INCLUDES GENERAL, SPECIAL REVENUE, DEBT
SERVICE AND CAPITAL PROJECT FUNDS
Source: City of Carlsbad Comprehensive Annual Financial Reports.
182
CITY OF CARLSBAD
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal
Year (1)
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
Total
Current
Lew (1)
'$ 4,491,805
5,082,021
5,605,774
6,051,971
7,013,691
8,644,209
9,922,196
12,251,188
14,050,829
15,745,931
Total
Current
Collections (2)
4,325,152
5,017,599
5,491,980
5,984,957
7,201,032
9,502,177
10,797,171
12,581,954
14,920,156
15,936,779
% of
Levy
Collected
96.29
98.73
97.97
98.89
102.67
109.93
108.82
102.70
106.19
101.21
(1) Opening charges. Does not include Supplemental Assessments.
(2) Collections include prior years' delinquencies.
TOTAL TAX LEVY
LAST TEN YEARS
MILLIONS OF DOLLARS
18-1
1982 1983 1984 1985 1986 1987 1988 1989 1990 1991
FISCAL YEAR
183
CITY OF CARLSBAD
Special Assessment Billings and Collections
College Boulevard Assessment District
Last Five Fiscal Years
Fiscal Special Assessment Special Assessments
Year Billings Collected
Prior to
1987 N/A N/A
1987 $ 1,000,362 996,884
1988 988,116 987,682
1989 984,718 985,207
1990 985,680 985,670
1991 986.080 760.329
$ 4.944.956 4.715.772
Note: There were no special assessment billings for the College Boulevard
Assessment District prior to the fiscal year ended June 30, 1987.
Source: County of San Diego Office of the Auditor and Controller.
184
CITY OF CARLSBAD
Principal Employers
1990-1991
Firm
Manufacturing s
Hughes Aircraft
Upper Deck
Puritan-Bennett Corporation
Taylor Made Golf Co., Inc.
Bluebird Systems
Callaway Golf
Smith & Nephew DonJoy, Inc.
Beckman Instruments
International Totalizer System
Linear Corporation
Dyna Corporation
South Coast Materials Co.
Sierracin-Magedyne, Inc.
Melles Griot Laser Products
Stillman Seal Industries
Eaton-Leonard Corporation
J.C. Schumacher and Co.
Creative Nail Design
Product/Service Employees
Electronic Components 1,200
Entertainment Cards 800
Medical Equipment 550
Golf Equipment 320
Computer Systems 250
Golf Equipment 250
Orthopedic Braces 200
Medical Diagnostic Reagent 200
Off-track Betting Systems 160
Wireless Security Systems 150
Medical Products and Printing Co. 150
Asphalt Supplies 150
Electronic Motors 145
Gas Lasers 140
Industrial Seals 125
Vending Machines 125
Distributor of Chemicals 120
Artificial Fingernail Products 100
Non-Manufacturing;
La Costa Hotel & Spa
Plaza Camino Real
McMahan Furniture
Carlsbad Unified School District
Car Country Carlsbad
City of Carlsbad
Farmer's Insurance - Regional
San Diego Gas & Electric
Daniel's Cablevision
Best Western Andersen's Inn
Coast Waste Management
Jazzercise
Hotel & Health Spa 1,300
Shopping Mall (5 major Dept. Stores) 1,000
Furniture 700
Education 610
Car Dealerships 500
Municipal Government 482
Insurance 450
Utility Company 400
Cable TV Service 120
Hotel/Restaurant 120
Trash Service 119
Dance Fitness 117
Source: City of Carlsbad Chamber of Commerce.
185
CITY OF CARLSBAD
Principal Taxpayers
1990-1991
Taxpayer
San Diego Gas & Electric
La Costa Hotel & Spa
Fieldstone/La Costa Assoc.
Hughes Aircraft
Lyon/Copley Carlsbad Assoc.
Pacific Rim Land Associates
Upland Industries Corp.
Continental Homes, Inc.
Plaza Camino Real
Plaza de La Costa Associates
Type of Business
Power Generation $
Hotel & Health Spa
Land Developer
Manufacturer
Land Developer
Land Developer
Land Developer
Land Developer
Shopping Center
Shopping Center
Valuation
350,333,000
203,547,081
170,972,380
100,970,330
72,896,986
50,866,972
47,801,262
34,138,002
29,409,685
25.754.869
Percentage of
Total Net
Assessed
Valuation(1)
40%
$ 1.086.690.567 19.85%
(1) Net assessed valuation for 1990-1991 - $5,474,063,206
Source: County of San Diego Office of the Auditor and Controller.
186
CITY OF CARLSBAD
Miscellaneous Statistical Information
Date of Incorporation
Type of City
Form of Government
Area
Population
Number of street lights
Miles of streets
July 16, 1952
General Law
Council/Manager
42.19 square miles
64,264
4,436
238
Fire Protection:
Number of stations
Number of firefighters and officers
Police Protection:
Number of stations
Number of sworn police officers
Municipal Water District:
Number of customers
Average daily consumption
Miles of lines and mains
Miles of sewers
Recreation and Culture:
Number of parks (improved and unimproved)
Area of parks
Number of pools
Number of libraries
Number of volumes
Total number of City employees
6
72
1
82
17,000
12.8 million gallons
300
103.74
36
326.88 acres
1
2
200,481
482
187