HomeMy WebLinkAbout1991-01-29; Municipal Water District; 078; Acceptance of CMWD's Combined Financial Statements, -I I
CMWD - AGENDA BlLL -If 0; I
A
AB#a TlTLE , DEPT. Ho‘;‘*
MTG. /‘--ii@- qj ACCEPTANCE OF CARLSBAD MUNICIPAL WATER
DEPT. ADMI N l
COMBINED FINANCIAL STATEMENTS
RECOMMENDED ACTION:
Accept the 1989-90 Carlsbad Municipal Water District's Combined Financial Statements.
ITEM EXPLANATION
Fiscal year 1989-90 marks the 36th year of operation for the Carlsbad Municipal Water District. Following is a summary of the significant occurrences during the year.
Assets -.,Total assets nearly reached the $55 million mark during 1989-90, up from $51million the previous year. The Allan 0. Kelly Operations Center was completed, adding nearly $2 million in assets. Additionally, the construction projects such as the replacement of a major pipeline in El Camino Real and the completion of a 10 million-gallon reservoir as the first phase of improvements to the Maerkle Reservoir contributed to increased assets.
Revenues - During 1989-90, District revenues totaled $10.9 million. This was an increase of over 10.8% when compared to 1988-89 figures. Sources of revenue were water sales, major facilities charges (connection fee), property taxes, interest earned and the various lease agreements with organizations such as Daniels Cablevision, U. S. West .Cellular and Pat Bell Cellular for the use of District property. .
Expenditures - Total operating expenditures for 1989-90 were $7.9 million. An increase of over $1 million from the previous year. In addition, capital projects were completed during the year totalling approximately $11 million. As previously mentioned, these projects include Allan 0. Kelly Operations Center, a 10 million gallon reservoir, and pip.eline replacement projects in El Camino Real.
FISCAL IMPACT
The report presents the current financial condition of the Carlsbad Municipal Water District. Revenues are sufficient to pay all current obligations of the District including debt service and operating expenses.
* , -.
Agenda Bill Regarding Audit (continued)
EXHIBITS
Audit previously distributed to Board of Directors. Copies on file with City Clerk and the District office.
Allan 0. Kelly Operations Center
Dedicated Ju@ 18, 1990
CARLSBAD MUNICIPAL WATER DISTRICT
Comprehensive Annual Financial Report
for Fiscal Year Ending June 30, 1990
Comprehensive Annual Financial Report
for Fiscal Year Ending June 30, 1990
Table of Contents
Introductory Section
Transmittal Letter
District Purposes and Powers
District Offkials
Fmancial Section
District Organizational Chart
Auditor’s Opinion
Balance Sheets
Statement of Operations
Statement of Changes in Equity
Statement of Cash Flows
Statements of Changes in Financial Position
Notes to Financial Statements
Water Treatment, Transmission and Distribution,
and Administrative and General Expenses
Improvement Districts’ Balance Sheet
Improvement Districts’ Statement of Revenues
and Expenditures
Supplemental Section
Water Purchases (1985/86 thru 1989/90)
Agricultural Usage (1985/86 thru 1989/90)
Water Purchases and Agricultural Usage - Graph
Cost of Purchased Water (1985/86 thru 1989/90)
Employee Summaries
i
A-l
A-Z
A-3
A-4
B-l
B-2
B-4
B-5
B-6
B-7
B-8
B-25
B-26
B-27
C-l
c-2
c-3
c-4
c-5
Introductory Section - A
+Q? op 6 9 0 i % w t %p 8 + wrrb o\
Carlsbad
Municipal Water District
5950 ii Caminc Real, CartsSad, CA 92008
Engineering: (610) 438-3367
AdminisTration: (6 10) 438-2722
Fax: (619) 431-1601
Board of Directors
Carlsbad Municipal Water District
5950 El Camino Real
Carlsbad, CA 92008
Fiscal Year 1988-90 was another year in which the District took great strides in a wide variety
of areas, and at the same time continued to enjoy its sound financial condition. In particular,
the District confirmed its commitment to capital project construction with the completion
of numerous improvements. Construction projects initiated during the year will benefit existing
consumers by upgrading the current distribution system and ensure future consumers that the
facilities will be in place to meet projected needs. Existing consumers will benefit by the
replacement of the major pipeline in El Camino Real from PaIomar Airport Road to Tamarack.
In preparation for the future, the Allan 0. Kelly Operations Center was completed that includes
a state-of-the-art telemerry sysrem for water distribution system monitoring that is unsurpassed
by any other water agency in the County. Additionally, the first phase of the improvements to the
District’s 195 million-gallon Maerkle Reservoir was completed with the construction of a 10
million-gallon reservoir. This is the first in a series of projects to that crucial component of the
water system. Also! an application was filed during the year for a low-interest loan from the State
of California for the construction of recIaimed water facilities. This as well as the other actions are
all si,tificant portions of Carlsbad’s water resource planning efforts.
Also during the year, the District’s public education programs were tested with the declaration of
a Stage II-Water Alert in response to the current drought conditions. In conjunction with the
San Diego County Water ,4utority, consumers in our service area were asked to reduce demands
by 10%. Over the summer months, which go beyond the 1989-90 fiscal year, demands were
reduced by 9.5% in comparison to those e,xperienced during the same period in previous years.
More important, consumers in the District took steps toward permanently altering their water use
habits by creating a new water ethic for Carlsbad.
Special recognition should be given to members of the District’s Board of Directors and Water
Commission for their assistance in giving the policy direction needed in these vital undertakings.
In addition, the staff at the District should receive accolades for their hard work during the year,
for without them, none of these activities could have occurred.
Sincerely,
i i
I-
Q i’,!, {Ld4 /: .
Robert J. Greaney’
-$~&yj-
,’
General Manager/District Engineer A-l
“Serving Carlsbad for over 3 years’
District Pumoses and Powers
The Carlsbad Municipal Water District (formerly Costa Real Municipal Water District)
was formed March 22, 1954, under the Municipal Water District Act of 1911, to apply for
water service from the San Diego County Water Authority. Local water sources had been
utilized to the extent that an alternate supply was required to meet the demands of Carlsbad.
Now in its 35th year of service, the District has kept pace with the phenomenal demands of an area that is experiencing tremendous growth. However, just as significantly, the District has
retained a “work ethic” that meets the extremely high level of service that the residents
Carlsbad have grown accustomed to receiving. This commitment, on the part of all public
service providers in the City, has contributed to the evolution of Carlsbad into one of the most
desirable communities in all of San Diego County.
The District’s Board of Directors sets all rates and fees which are required for opera-
tions and maintenance of District facilities, principal and interest on debt obligations, and
system replacement and expansion. Expenditures are funded from the various revenue sources
available to the District dependent upon the project’s beneficiary. Projects that benefit future
residents in the form of new construction or expansion of existing facilities are funded by fees
collected when a building permit is issued. Likewise, the replacement of existing projects and
the day-to-day operations of the District are funded primarily by property taxes and water
rates. This system ensures equitable financing of all District activities.
A-2
Carlsbad Municipal Water District
Listing of District Offkials
Board of Directors
Claude “Bud” Lewis, President
Ann Kulchin, Vice President
Eric Larson
John Mamaux
Mark Pettine
Water Commission
John Henley, Chair
Fred ,Maerkle, Vice Chair
Margaret Bonas
Roger Greer
E.J. Woodward Jr.
Officials
Raymond Patchett, Executive Manager
Robert Greaney, General Manager / District Engineer
Geoffrey Poole, Administrative Manager
Kurt Musser, Superintendent
F. Jerry WhitIey, Engineering Manager
A-3
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L-J
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A-4
Financial Section - B
q-e 00 0 9 ‘L % w
0 t 0 p 41 wrre o\
CARLSBAD MJFfICIPAL WATER DISTRICT
Financial Statements and Schedules
June 30, 1990 and 1989
(With Independent Auditors’ Report Thereon)
; j KPMG Peat Marwick
Certified Public Accountants
North County Office:
2011 Palomar Airport Road
Telephone 619 931- 6700 Telecopier 619 436-4298
Carlsbad. CA 92006 Independent Auditors’ Report
The Board of Directors
Carlsbad Municipal Water District:
We have audited the accompanying balance sheets of Carlsbad Municipal Water
District as of June 30, 1990 and 1989, and the related statements of
operations, and changes in equity for the years then ended, the statement of
cash flows for the year ended June 30, 1990, and the statement of changes in
financial position for the year ended June 30, 1989. These component unit
financial statements are the responsibility of the District’s management. Our
responsibility is to express an opinion on these component unit financial
statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the component unit financial statements are free of material misstatement. An audit includes examining, on
a test basis, evidence supporting the amounts and disclosures in the component
unit financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall component unit financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the component unit financial statements referred to above
present fairly, in all material respects, the financial position of Carlsbad
Municipal Water District at June 30, 1990 and 1989, and the results of its
operations for the years ended June 30, 1990 and 1989, its cash flows for the
year ended June 30, 1990 and its changes in financial position for the year
ended June 30, 1989 in conformity with generally accepted accounting principles.
As discussed in Note 1 to the component unit financial statements, the
District adopted Statement of Governmental Accounting Standards No. 9
“Reporting Cash Flows of Proprietary and Nonexpendable Trust Funds and
Governmental Entities that use Propriety Fund Accounting” in 1990.
Our audits were made for the purpose of forming an opinion on the component
unit financial statements taken as a whole. The current year’s supplementary information included in Schedules 1 through 3 is presented for purposes of
additional analysis and is not a required part of the component unit financial
statements. Such supplementary information, except for that portion marked
“unaudited , ” on which we express no opinion, has been subjected to the
auditing procedures applied in the audits of the component unit financial
statements and, in our opinion, is fairly stated in all material respects in
relation to the component unit financial statements taken as a whole.
September 28, 1990
B-l
Member Firm of Yl\,“l..ld lJ.ar h”.,,u,r* r.n.rd~,nr
CARLSBAD MUNICIPAL WATER DISTRICT
Balance Sheets
June 30, 1990 and 1989
Assets 1990 1989
Current assets:
Cash (note 2)
Investments (note 2)
Accounts receivable
Inventories
$ 209,356 349,791
8,280,302 12,007,904
2,095,605 1,956,247
191.805 162.050
Total current assets 10.777.068 14.475.992.
Current restricted assets:
Cash (notes 2 and 6) 26,289 24,424
Investments (notes 2 and 6) 2,252,169 1,617,815
Interest receivable 214,456 227,981
Contract receivable 3.125
Total current restricted assets 2.492.914 1.873.345
Restricted assets:
Investments (notes 2 and 6) 1,339,059 5,656,934
Deferred compensation investment (note 9) 862.010 646,967
2.201.069 6.303.901
Utility plant (notes 1 and 3):
Property and equipment, at cost, net of
accumulated depreciation
Construction in progress
30,340,339 26,515,277
8.914.026 2.352.005
Total utility plant 39.254.365 28.867.282
$ 54.725.416 51.520.524
B-2 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Balance Sheets, Continued
June 30, 1990 and 1989
Liabilities and Equity 1990
Current liabilities:
Accounts payable
Current portion of certificates of
participation payable (note 4)
Current portion of note payable
Interest payable
Accrued expenses
Construction deposits
$ 740,598
610,000
1,074,602
153,188
326,040
152.218
575,000
20,502
160,270
280,848
155.914
Total current unrestricted liabilities 1,982,044 2,267,136
Current liabilities payable from restricted assets:
Current portion of bonds payable (note 5)
Accrued interest and unredeemed bonds and
bond coupons
Total current liabilities
623,000 65,000
35.308 36.005
2,640,352 2,368,141
Certificates of participation payable, net of
unamortized issuance costs of $400,650 in
1990 and $427,361 in 1989 (note 4)
Bonds payable (note 5)
Deferred compensation payable (note 9)
12,299,350 12,882,639 40,000 663,000
862.010 646,967
Total liabilities 15.841.712 16.560.747
Equity:
Equity in utility plant
Retained earnings:
Reserved (note 6)
Unreserved:
Designated (note 6)
Undesignated
18,880,916
1,135,886
14,399,413
543,558
Total equity
28,015,703
1,154,420
9,245,371
468.210
38.883.704
$W
34.959.773
See accompanying notes to financial statements.
B-3
CARLSBAD MUNICIPAL WATER DISTRICT
Statements of Operations
Years ended June 30, 1990 and 1989
1990
Operating revenues:
Water sales
Cost of water purchased
$ 6,513,806 5,996,772
4.969.862 4.166.065
Gross margin from water sales 1,543,944 1,830,707
Other operating revenues:
Facilities revenue
Miscellaneous revenue
2,661,294 2,225,380
194,595 214.026
4.399.833 4.270.113
Operating expense:
Water treatment
Transmission, distribution and maintenance
Administrative and general
Reimbursement agreement
Depreciation
Loss on disposal of assets
118,900
909,694
994,353
74,723
604,766
74,346
965,444
1,163,687
24,561
648,974
82.908
Total operating expense 2.959.920 2,702,436
Net income from operations 1.439.913 1.567.677
Other income (expense):
Property taxes
Interest earned
Rent
Interest expense, net of capitalized interest
Amortization of issuance costs
668,427 637,989
1,524,172 1,727,611
19,775 18,400
(645,557) (951,782)
(26.710) (23.275)
Total other income, net 1.540.107 1.408.943
Income before extraordinary item 2,980,020 2,976,620
Extraordinary item - increased principal on
early extinguishment of debt (note 4) 1.812.322
S2.98Q.020 Net income U4.298
See accompanying notes to financial statements.
B-4
CARLSBAD MUNICIPAL WATER DISTRICT
Statements of Changes in Equity
For the years ended June 30, 1990 and 1989
Balance at June 30, 1988
Equity in
Utility
Plant
$ 17,150,623
Reserved
1,091,341
Unreserved-
Desianated
1,951.695
Net income
Unreserved-
Undesianated
12,476,289
1,164,298
Contribution of assets 1,125,527
Total
32,669,948
1,164,298
1,125,527
Transfer pursuant to debt
agreements 44,545 (44,545)
Transfer to fund current
year's depreciation expense 604,766 (604,766)
Transfer to designated
retained earnings (note 6)
Balance at June 30, 1989 18,880,916 1,135,886
12.A47.718
14,399,413
Net income
(17.447.718)
543,558
2,980,020
Contribution of assets 943,911
34,959.773
2,980,020
943,911
Transfer pursuant to debt
agreements 18,534 (18,534)
Transfer from undesignated
retained earnings for major facilities and replacement
project fees (note 6) 2,661,294 (2,661,294)
Transfer from designated
retained earnings for
capital expenditures
(note 6) 8.190.876 (7.815.336) (375.54Q)
Balance at June 30, 1990 S 28.015.703 1.154.42Q 9.245.371 468,ZlQ 38.883.704
Retained Earninas
See accompanying notes to financial statements.
B-5
CARLSBAD MUNICIPAL WATER DISTRICT
Statement of Cash Flows
For the year ended June 30, 1990
Cash flows from operating activities:
Net income from operations
Adjustments to reconcile net earnings to
net cash provided by operating activities:
Depreciation and amortization
Increase in receivables
Increase in inventories
Decrease in accounts payable and accrued expenses
Increase in deferred compensation payable
Net cash provided by operating activities
Cash flows from noncapital financing activities:
Property taxes received
Rent received
Net cash provided by noncapital
financing activities
Cash flows from capital and related financing activities:
Acquisition and construction of capital assets
Principal payments on bonds
Interest paid on bonds
Decrease in construction deposits
Decrease in notes payable
Principal payments on certificate of participation
Increase in unredeemed coupons and bonds payable
Net cash used in capital and
related financing activities
Cash flows from investing activities:
Net decrease in investments
Interest on investments
Net cash provided by investing activities 8.552.881
Net decrease in cash
Cash and cash equivalents at beginning of period 8.583.324
Cash and cash equivalents at end of period
Supplemental schedule of noncash investing and
financing activities - Capital assets contributed
by contractors
$ 1,439,913
675,684
(136,684)
(29,755)
(288,812)
215,043
1.875.389
668,427
19,775
688,202
(9,700,106)
(70,000)
(1,046,242)
(3,696) (20,502)
(575,000)
1.867
(11.413.679)
7,042,234
1.510.647
(297,207)
$8.286.117
$943.911
See accompanying notes to financial statements.
B-6
CARLSBAD MUNICIPAL WATER DISTRICT
Statement of Changes in Financial Position
Year ended June 30, 1989
Sources of working capital:
Net inccme before extraordinary item
Depreciation
Amortization
Working capital provided by operations
before extraordinary loss
Extraordinary item, net of write-off of issuance costs
Working capital provided by operations
Contributed utility plant 1,125,527
Issuance of refunding certificate of participation payable 14,370,000
Increase in deferred compensation payable 178.920
Total sources of working capital
Uses of working capital:
Issuance costs paid with debt proceeds
Certificates of participation payable defeased
Additions to utility plant, net
Increase in restricted assets
Current maturity of long-term debt
Decrease in current liabilities payable from
restricted assets
Current maturity of certificates of participation payable
Total uses of working capital
Increase in working capital
Increase (decrease) in working capital:
Cash
Investments
Accounts receivable
Inventories
Accounts payable
Current portion of certificates of participation payable
Current portion of note payable
Accrued expenses and interest payable
Construction deposits
Increase in working capital
$ 2,976,620
604,766
23.275
3,604,661
1.463.189
2,141,472
17.815.919
427,361
11,650,OOO
3,636,240
224,478
70,000
2,332
1.060.000
17,070.411
$,745.508
(41,161)
1,392,176
241,524
(29,133)
(530,105)
(225,000)
200
(69,130)
6.137
$745_.508
See accompanying notes to financial statements.
B-7
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements
June 30, 1990 and 1989
(1) ReoortinP Entity and Summarv of Significant Accountinp Policies
(a) Renortinn Entity:
The Carlsbad Municipal Water District, (the District) of the City of Carlsbad (City) operates under a water service agreement with the
City wherein the District provides all capital facility financing
and development, operation and maintenance and planning for the consolidated water system, and the City provides all customer service functions for essentially the entire City of Carlsbad. The
District is a member of the San Diego County Water Authority, from
whom it purchases its water.
On January 1, 1990, the District was established as a component unit
of the City. The City and the District continued to function as
separate entities for reporting purposes until December 31, 1989.
The District is an integral part of the reporting entity of the
City. The accounts of the District have been included within the
scope of the general purpose financial statements of the City
because the City Council exercises oversight responsibility over
the operations of the District. Only the accounts of the District
are included herein; therefore, these financial statements do not
purport to represent the financial position or results of
operations of the City of Carlsbad.
The District maintains two fund types which are combined on the face
of the financial statements, the description of which is as follows:
(1) General Fund - The general fund is used to account for the major
portion of District operations which are financed and operated in
a manner similar to that of a private business enterprise. The
intent of the District is to establish rates and fees sufficient
to provide for payment of general District operations and
maintenance expenses as well as required annual debt service.
(2) Imnrovement District Funds - Improvement district funds are used
to account for the financing of public improvements as set forth
in original bond covenants as established by voter approval. The
District accounts for the activity related to each improvement
district’s debt and acquisition appropriations within separate
improvement district funds.
B-8 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(1) Reoorting Entitv and Summarv of Significant Accounting Policies, Continued
(b) Summary of Significant Accounting Policies:
The accounting policies of the District conform to generally accepted
accounting principles as applicable to single enterprise funds.
Revenues and expenses are recorded on the accrual basis of
accounting . Resources are allocated to and accounted for in
individual funds based upon the purpose for which they are to be
spent and the means by which spending activities are controlled.
(i) Investments:
Investments are recorded at cost, which approximates market
value.
(ii) Inventories:
Inventories of materials are stated at weighted average
cost. Inventory of water is stated on a lower of cost
(last-in, first-out) or market basis.
(iii) Utilitv Plant:
Utility plant is stated at cost or, if donated, at estimated
fair market value at date of transfer. Expenditures for
improvements and betterments (including labor and overhead)
are capitalized. Maintenance, repairs and minor improvements
are expensed as incurred. Depreciation is computed using the
straight-line method over the estimated useful lives of the
respective assets.
(iv) Vacation and Sick Leave:
The District records a liability equal to 100 percent of
eligible vacation and sick leave available to employees.
(v) Interest Earned:
The District maintains centralised cash and investment
accounts in order to maximize investment return. The
District allocates interest earned among the various funds
based on each fund’s share of the cash and investment balance.
(vi) Statement of Cash Flows and Cash Eauivalents:
In September 1989, the Governmental Accounting Standards
Board issued Statement No. 9, “Reporting Cash Flows of
Proprietary and Nonexpendable Trust Funds and Governmental
B-9 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(1) Reoortinn Entity and Summary of Significant Accounting Policies. Continued
(b) Summarv of Significant Accounting Policies, Continued:
(vi) Statement of Cash Flows and Cash Equivalents. Continued:
Entities that Use Proprietary Fund Accounting." Effective
June 30, 1990, the District prospectively adopted the
provisions of Statement No. 9 and has presented a statement
of cash flows instead of the statement of changes in
financial position for the year ended June 30, 1990. The
District has elected not to restate the statement of changes
in financial position for the year ended June 30, 1989.
For purposes of the statement of cash flows, cash and cash
equivalents consists of cash on hand, Local Agency Investment
Fund and County Treasurer Investment Pool.
(vii) Issuance Costs:
Issuance costs of the 1988 COP are amortized using a
straight-line method over the 16-year life of the issue.
(2) Cash and Investments
Authorized deposits and investments of the District are governed by the
California Government Code as well as policies set forth by the Board
of Directors. Within the contents of these limitations, permissible
investments include: obligations of the U.S. Treasury, agencies and
instrumentalities, bankers' acceptances, commercial paper rated A-l+ by
Standard and Poor's Corporation or P-l by Moody's Commercial Paper
Record, and certificates of deposit issued by nationally or
state-chartered banks or federal or state savings and loans
associations. Funds may also be invested in the State Treasury's Local
Agency Investment Fund and the County Treasurer Investment Pool.
In order to diversify the District's portfolio, a policy was adopted
which provides for the District to only hold deposits and investments
totalling up to 30% of total available investment capital at any one
bank or savings and loan, up to the lesser of $5,000,000 or 50% of
total available investment capital in the Local Agency Investment Fund
and the option to invest with a registered investment advisory firm.
B-10 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(2) Cash and Investment, Continued
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. The District’s
deposits are entirely insured-or collateralized.
A summary of cash and investments is as follows:
1990
Deposits :
Cash $ 235,645
Time certificates of deposit 2.482.000
2,717,645
Investments 10.251.540
12,969,185
Less restricted portion 4.479.527
Unrestricted cash and investments $s.489.658
Deoosits :
374,215
4.855.000
5,229,215
15.074.620
20,303,835
7.946.140
lZ.357.695
The following summary presents the amount of the District’s deposits
which are fully insured or collateralized with securities held by the
District or its agent in the District’s name (Category One), those
deposits which are collateralized with securities held by the pledging
financial institution’s trust department or agent in the District’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 District’s
name (Category Three) at June 30, 1990.
B-11 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(2) Cash and Investments. Continued
Cateoorv Total Bank
Q!x Ixt rhree Balance
Carrying
Amount
Cash $ 126.290 - 143,647 269,937 235,645 Time certificates of deposit 2.482.ooo- - 2.482.00Q 2.482.000
$ 2.608.290 - 143.647 2.751.937 2.717,645
Investments:
The District categorizes investments according to the level of risk
assumed by the District. Category One includes investments that are
insured, registered or held by the District's agent in the District's
name. Category Two includes uninsured and unregistered investments
held by the counterparty's trust department or agent in the District's
name. Category Three includes uninsured and unregistered investments
held by the counterparty, its trust department or its agent, but not in
the District'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 pooled
investment funds. The summary below identifies the level of risk
assumed by the District and the total carrying amount and market value
of the District's investments at June 30, 1990.
Total
Categg Y Uncate- Invest- Market
One T& Three gorized mm&s value
Local agency
investment fund $ - - - 5,ooo.ooo 5,000,000 5,000,000
County treasurer
investment pool
U.S. Treasury Bills
Money Market Fund
3.050,472 3,050,472 3,050,472
i,22i,a76 - - 1,221,876 1,239,269
117,182 - - 117,182 117,215
Deferred compensation
investment fund AA 862.OlQ 8V.OlQ 867.01Q
Total s 1.339.058 AA 8.917.482 10.251.54Q 10.768.j&$
B-12 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
(3)
Notes to Financial Statements, Continued
Utilitv Plant
A summary of utility plant and the related accumulated depreciation as of
June 30, 1990 and 1989 follows:
Cost of participation - San Diego
Water Authority
Land and easements
Reservoirs and dams
Pipelines and pumping stations
Chlorination stations
Meters and accessories
Buildings
Machinery and equipment
Office fixtures and.equipment
1990
$ 33,175 33,175
1,023,186 322,007
9,650,951 9,717,095
20,615,977 19,185,582 83,267 83,267 662,810 662,810 2,206,372 303,686 823,589 665,977
410.777 193.668
Less accumulated depreciation
35,510,104 31,167,267
5.169.765 4.651.990
Construction in progress
30,340,339 26,515,277
8.914.026 2.352.005
Net utility plant $39.254.365 78.867.282
Interest costs incurred during construction of the District’s projects
have been capitalized as costs of acquiring the assets and such costs
will be amortized on a straight-line basis over the life of the related
assets. Interest costs of $391,040 and $91,475 were capitalized in
1990 and 1989, respectively. Total interest costs incurred, including
capitalized amounts during these same periods, were $1,036,597 and
$1,043,257, respectively.
B-13 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements. Continued
(3) Utility Plant, Continued
Depreciation is computed on the straight-line method over the estimated
lives of the respective assets, as follows:
Assets
Estimated
useful lives
Reservoirs and dams 75 years
Pipelines and pumping stations 50 years
Chlorination stations 25 to 40 years
Meters and accessories 25 to 40 years
Buildings 40 years
Machinery and equipment 5 to 20 years
Off ice fixtures and equipment 5 to 10 years
(4) Certificates of Particioation
In November 1988, the District issued $14,370,000 in Certificates of
Participation (1988 COP). A portion of the proceeds were used to
refund $12,000,000 of the outstanding 1984 Certificates of
Participation (1984 COP). The District deposited funds in an
irrevocable trust with an escrow agent to provide for all future
service payments on the 1984 COP. As a result, the 1984 COPS are
considered to be defeased and the liability for those certificates are
not included in the District’s financial statements. At June 30, 1990,
$11,250,000 of outstanding 1984 COPS are considered defeased.
The 1988 COPS bear interest ranging from 5.6% to 7.3% per year, payable
semi-annually on May 1 and November 1, beginning May 1, 1989.
Principal payments are payable annually through May 1, 2004. The debt
agreement stipulates that the District adhere to specified covenants.
At June 30, 1990, the District was in compliance with these
requirements.
Although the advance refunding resulted in increased principal payments
of approximately $1,812,000 which is reflected in the statement of
operations for the year ended June 30, 1989, the District in effect
reduced its aggregate debt service payments by $3,229,000 over the next
15 years and obtained an economic gain (difference between the present
values of the old and new debt service payments) of $609,000.
B-14 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(4) Certificates of Particination. Continued
Maturities of the 1988 COPS during the years subsequent to June 30, 1990
are as follows:
1991 $ 610,000
1992 645,000
1993 685,000
1994 730,000
1995 775,000 Thereafter 9.865.000
$13.310.000
(5) Bonds Payable
Bonds payable at June 30, 1990 comprise the following individual issues:
Improvement
District 2 Improvement Improvement
Series 2 District 3 District 4 Total
Date of issue 1961-Series 2 1961 1961
Coupon interest rate 4.5% 4.75 & 5.0% 3.5 & 4.0%
Interest payment dates 5/l & U/l 3/l & 9/l 6/l & 12/l
Principal payment dates 5/l 3/l 12/l
Authorized $ 425,000 1,000,000 690,000 2,115,OOO Authorized - unissued (200.000) - (200.000)
Original issue
Redeemed as of
June 30, 1990
Outstanding as of
June 30, 1990
Less current portion
425,000 800,000 690,000 1,915,ooo
(400.000) (242,000) (610.000) (1.252.000)
25,000 558,000 80,000 663,000
(25.000) (558.000) c40.000) (623.000)
Long-term portion $ -( -.QM
Minimum annual principal payments for retirement of outstanding bonds as
of June 30, 1990 are as follows:
Fiscal Years Series 2
Ending June 30, 1961 1961 Total
1991 $ 25,000 558,000 40,000 623,000
1992 40.000 40.000
Total G2LQQQ zauuQ 80.000 haiiduQ
B-15 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(5) Bonds Payable. Continued
A sinking fund was established in conjunction with the issuance of bonds
for Improvement District No. 3. Board Resolution No. 128 prescribes
the establishment of the sinking fund for the payment of debt as it
becomes due.
(6) Reserved/Designated Retained Earnings
The following is a summary of reserved/designated retained earnings as of
June 30, 1990 and 1989:
Reserved for debt agreements:
Sinking Fund
Debt Service
Acquisition
Designated for:
Contingencies
Construction
Major Facilities Charges
Replacement Projects
Fully reserved assets
1990
$ - 539,466
623,702 65,702
530.718 530.718
1.154.420 1.135.886
1,856,112
500,000
6,534,955
354,304
9.245.371
QliuELu
1,710,004
500,000
8,889,445
3,230,737
69,227
14.399.413
J.5.535.2e9
The following reserves have been established pursuant to debt agreements:
(a) Sinkinn Fund:
This reserve was established in conjunction with the issuance of
bonds for Improvement District No. 3. Funding of the sinking fund
during fiscal 1989 was by proceeds from property taxes and
transfers of interest from the general fund.
(b) Debt Service:
These reserves were established in conjunction with the various bond
issues. The reservations are restricted to the payment of current
bond service requirements.
B-16 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(6) Reserved/Designated Retained Earnings. Continued
(cl Acauisition:
The original bond issues of the District were for the purpose of
acquisition of facilities. To date, thrcugh various reimbursements
to these acquisition funds, there remains $530,718 reserved for
acquisition purposes.
The following designations of retained earnings have been established:
(a) Contingencies:
During fiscal 1990 and 1989, the Board of Directors designated an
amount equal to 25% of the subsequent years annual operating
budget. This appropriation was made to offset the “stand by” fees
which are now kept by the City of Carlsbad as part of the Water
Service Agreement (Note 7). The “stand by” fees provide a source
of revenue even if water sales were significantly reduced. Amounts
appropriated are to be used for operations in the event of a
temporary decline in water revenue from an unforeseen event.
(b) Construction:
cc> Major Facilities Charges:
During fiscal 1985, the Board of Directors designated an amount of
$500,000 to be used for emergency capital improvements. Amounts
appropriated are only to be used for significant non-recurring
items which are not included in the operating budget.
During fiscal 1984, the Board of Directors established a program for
funding the construction of new major facilities. The balance of
$6,534,955 at June 30, 1990 is the cumulative result of the fees
collected and expenditures identified as major facilities during
the period that this program has been in place.
(d) ReDlacement Projects:
During fiscal 1984, the Board of Directors established a program for
funding replacement projects. The balance of $354,304 at June 30,
1990 is the cumulative result of fees collected and expenditures
identified as replacement projects during the period that this
program has been in place.
B-17 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(7) Agreement With the City of Carlsbad
As part of an agreement with the City of Carlsbad, the City has set aside
a water utility fund, approximately $4,700,000 as of June 30, 1990, for
the District for the acquisition and construction of certain specific
projects which will benefit the District. This agreement also
specified that if and when a piece of property presently held by the
City is sold or leased, all proceeds will be donated to the District.
(8) Defined Benefit Pension Plan
(a) Plan DeSCriDtiOn:
The District 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 years ended June 30, 1990 and 1989,
the District’s payroll for employees covered by the PERS was
$1,047,044 and $1,026,090, respectively. Total payroll for the
same period was $1,152,725 and $1,069,408, respectively.
All full-time District employees are eligible to participate as
members of the PERS. Benefits vest after 5 years of service.
District employees who retire at or after age 60 with 5 years of
credited service are entitled to an annual retirement benefit,
payable monthly for life, in an amount equal to 2% of their average
salary during their last 12 months of employment or another period
of 12 months selected by the member if the average pay rate was
higher. The PERS also provides death and disability benefits.
These benefit provisions and all other requirements are established
by state statute and District ordinance.
District employees contribute 7% of their annual salary to the PERS.
This is paid by the District for the benefit of the employees in
lieu of salary. The District 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 Board of Administration.
B-18 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Coritinued
(8) Defined Benefit Pension Plan, Continued
0) Fundinn Status and Pronress:
The amount shown as the “pension benefit obligation” 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 pension benefit obligation was computed as part of an actuarial
valuation performed as of June 30, 1989. Significant actuarial
assumptions used in the valuation include:
(1) A rate of return on the investment of present and future assets
of 8.5% a year compounded annually;
(2) Projected salary increases of 5% a year compounded annually,
attributable to inflation;
(3) Additional projected sala,ry increases of 2% a year, attributable
to seniority/merit, and
(4) No post-retirement benefit increases.
B-19 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(8) Defined Benefit Pension Plan, Continued
(b) Funding Status and Progress. Continued:
Assets in excess of the pension benefit obligation applicable to the
District’s employees was $75,724 at June 30, 1989 (the date of the
latest actuarial valuation), as follows:
Pension benefit obligation:
Retirees and beneficiaries currently receiving
benefits and terminated employees not yet
receiving benefits $ 459,979
Current employees:
Accumulated employee contributions, including allocated investment earnings 422,880 Employer-financed vested 197,852 Employer-financed nonvested 61.012
Total pension benefit obligation 1,141,723
Net assets available for benefits, at cost
(market value, $1,426,848) 1.217.447
Assets in excess of the pension benefit obligation $ - 75.724
(c) Actuarially Determined Contribution Reouirements and Contribution
Made * --
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.
B-20 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(8) Defined Benefit Pension Plan, Continued
(c) Actuarially Determined Contribution Reouirements and Contribution -- Made. Continued:
PERS also uses the level percentage of payroll method to amortize any
unfunded actuarial liabilities. At June 30, 1990 and 1989, the
District did not have any unfunded actuarial liabilities. The
amortization period of the unfunded actuarial liability ends on
June 30, 1990 for the prior service benefit and June 30, 2000 fcr
other benefits.
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 described above.
The actuarially determined employer and employee contributions
applicable to the District at June 30, 1990 and 1989 were as
follows:
1990
Required normal
cost contribution
Less overfunding
Total required
contributions
Contributions made
by the District
Contributions made
by the employees
Total actual
contributions
Contri-
butions
$ 80,738
(55.420)
$25.318
80,826
73.374
~154.200
Covered
Pavroll
7.7 %
(5.3)X
_29%
7.7 %
7.0 %
J&i!%
1989
Contri-
butions
73,112
(39,071)
34,941
76,956
66.363
Covered
Payroll
7.8 %
(4.2)%
8.2 9:
7.1%
a42%
B-21 (Continued)
.-
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(8) Defined Benefit Pension Plan. Continued
(c) Actuarially Determined Contribution Reauirements and Contribution
Made. Continued:
The District has a surplus 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 the current
years contributions.
Trend information gives an indication of the progress made in
accumulating sufficient assets to pay benefits when due. Ten-year
historical trend information is not available from the California
Public Employees Retirement .System; therefore, only the available
information is presented.
Fiscal vear ended June 30.
1989 1988 1987
Net assets available for benefits
(at cost)
Pension benefit obligation (PBO)
Net assets as a % of PBO
Assets in excess of pension benefit
obligation
Annual covered payroll
Assets in excess of PBO as a % of
annual covered payroll
$ 1,217,447 981,451 823,110
1,141,723 941,218 749,880
106.6% 104.3% 109.8%
75,730 40,240 73,240
1,026,090 960,250 825,380
7.4% 4.2% 8.9%
The following is three-year trend information which gives an
indication of the progress made in accumulating sufficient assets
to pay benefits when due. The pension benefit obligation has not
yet been calculated by PERS for the plan year 1990, therefore, some
B-22 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(8) Defined Benefit Pension Plan, Continued
(c) Actuariailv Determined Contribution Reauirements and Contribution
Made. Continued:
of the percentages noted below were not available (N/A) for
disclosure:
1990 1989 1988
Net assets available for benefits as
a percentage of pension benefit
obligation N/A 106.6% 104.3%
Assets in excess of the pension benefit
obligation as a percentage of annual
covered payroll N/A 7.4% 4.2%
Actuarially determined employer
contributions as a percentage of
annual covered payroll 7.7% 3.6% 4.1%
(9) Deferred Comoensation Plan
The District offers its employees a deferred compensation plan created in
accordance with Internal Revenue Code Section 457. The plan, available
to all District employees, permits them to defer a portion of their
salary until future years. The deferred compensation is not available
to employees until termination, retirement, death, or unforeseen
emergency.
All amounts of compensation deferred under the plan, all investments and
rights purchased with those amounts, and all income attributable to
those amounts, or rights, are (until paid or made available to the
employee or other beneficiary) solely the property and rights of the
District (without being restricted to the provisions of benefits under
the plan), subject only to the claims of the District’s general
creditors. Participants 1 rights under the plan are equal to those of
general creditors of the District in an amount equal to the fair market
value of the deferred account of each participant.
B-23 (Continued)
CARLSBAD MUNICIPAL WATER DISTRICT
Notes to Financial Statements, Continued
(9) Deferred Comoensation Plan. Continued
The District 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 District believes that it is highly unlikely
that it will use the assets to satisfy the claims of general creditors
in the future.
(10) Commitments
Various construction contracts were in progress at June 30, 1990 with an
estimated cost to complete of approximately $540,000.
B-24
Schedule 1
CARLSBAD MUNICIPAL WATER DISTRICT
Water Treatment, Transmission and Distribution,
and Administrative and General Expenses
For the year ended June 30, 1990
(With comparative totals for the year ended June 30, 1989)
(Unaudited)
Budget
Water treatment:
Labor $ 56,130
Chlorine
Equipment, maintenance,
materials and supplies
Laboratory services testing
15,000
29,769 26,361 54,751
15,056 (56) 29,498
5,000 3,131 1,869 7,862
25.000 26.390 (1.390) 26,789
Total 101.130 74,346 26.784 118.900
Transmission, distribution
and maintenance:
Water distribution
Pipeline installation
Pipeline repair and maintenance
Fire hydrant maintenance and
installation
Waterline markout
Vehicle maintenance
Purchasing/receiving
Facility maintenance
290,164 352,712 (62,548) 377,158
71,467 141,676 (70,209) 89,769
251,978 204,228 47,750 255,688
47,133 43,385 3,748
25,518 22,423 3,095
56,851 48,499 8,352
32,268 52,780 (20,512)
167.106 99.741 67.365
41,950
52,670
92.459
Total 942.485 965.444 (22.959) 909.694
Administrative and general:
Administration
Engineering and special services
Professional fees
Directors fees and expenses
Utilities
Insurance Office supplies and expense
Water conservation
309,433 245,385 64,048 241,666
454,168 542,150 (87,982) 487,418
165,000 188,445 (23,445) 89,359
22,550 17,765 4,785 23,832
39,500 45,716 (6,216) 38,484
68,000 54,783 13,217 56,470
31,750 38,429 (6,679) 35,200 30.000 31.014 11,014) 21.924
Total 1.120.401 1.163.687 (43.286) 994.353
(Over)
under
Actual Budnet
1989
Actual
$2.164.016 2. c3!u.!u 2.022.947
B-25
Schedule 2
CARLSBAD MUNICIPAL WATEZR DISTRICT
Improvement Districts' Balance Sheet
June 30, 1990 (With comparative totals for June 30, 1989)
Improvement Improvement Improvement Improvement
District #l District 82 District #3 District if4
Total 1990 1989 Assets
Current restricted assets:
Cash Investments Contract receivable
Restric:ed assets - Investments
$ 2,367 16,818 6,521 583 26,289
345,827 737,636 1,048,648 120,058 2,252,169
24,424
1,617,815 3,125
348. ?9L 754.454 1,055,169 120,641 2,278,&58
539,466
2.184.830
1,074,916 4,191,056 1,108,849
(599.132) (1.387.820) (480,125) 475,784 2,803.236 628,724
731,540
(276 327) - 455 213 A
575,354
7,106,361 7,106,362 !2,743.404) (2.607.009) 4,362,957 4,499,353
s- 323.978 3,557,690 1.683.593 h641.415 6.684.183
Current portion of bonds payable
Accrued interest and unredeemed bonds and bond coupons
Total current liabilities payable
from restricted assets
2.367
2,367
25,000 623,000 65,000
16,304
558,000 40,000
15,822 816 35,309 36,005
41,304
41,304
573,822
2,363 573,822
40,816
40 000
80.816
658,309 101,005
40,000 663,000
698,309 76L,OO5
546,751 3,454,756 256,133 311,790
40,000
4,569,430 4,433,034
413,165 701,255 1,154,420 1,135,886
(351,535) 152,683 143.248
495,038
219,256
3,516.386 1,110,071 5,943,106
69,228 282,030
~920,178
$ 323.978 3,557,690 1.683.893 575,854 6,641,415 Q84.183
Utility plant: Water transmission and
distribution facility Less accumulated depreciation
Liabilities and Eauitv
Current liabilities payable from restricted assets:
Bonds payable Total liabilities
Equity:
Equity in utility plant Retained earnings (deficit): Reserved
Unreserved:
Designated Undesignated
Total equity
B-26
Schedule 3
CARLSBAD MUNICIPAL WATER DISTRICT
Improvement Districts' Statement of Revenues and Expenditures
For the year ended June 30, 1990 (With comparative totals for the year ended June 30, 1989)
Operating expense -
Depreciation
Net operacing loss
$ 19,432 86,575 21,541 8,849 136,397 137,193
(19.432) (86,575) (21,541) (8.849) (136 397) A (137,193)
Other income (expense): Property taxes
Interest earned Interest on bonds and note payable
27,466
Total other income, net 27,466
Net income (loss) $ 8,034
Improvement Improvement District #l District 62
3,550 59,796
(2.073)
61 273 A
(25.302)
District 63
1,433 84,937
(28,192)
58,178
36-637
Improvement District C4 Total 1990 1989
3,027 8,010 59,392
11,007 183,206 174,882
(!.625) (31 890) A (36,369)
12.409 159 , 326 197 ? 905
3,560 22,929 60.712
B-27
Supplemental Section - C
The following data is presented in order for the reader to get a better
understanding of the District and its operations. The information is taken
from a variety of sources and while appropriate measures were taken to
ensure material provided is as accurate as possible, the information was
not audited, and is solely the responsibility of District staff.
q-4?
00 b 9 0 * % w t l’c/, p 4( kwz* o\
Carlsbad Municipal Water District
Water Purchases
(Acre Feet)
Month 85/86 86/87 87/88 88189 89190 Average ========= === ===-v========= -- ========= ======== =========== =
July
August
September
October
November
December
January
February
March
April
May
June
1,522.0
1,631.4
1,449.4
1,370.2
864.4
612.1
856.0
613.1
740.7
lJO7.2
1,482.g
1,427.4
1,620.4 1,687.g
1,74x3 1,828.0
1,474.0 1,6242
lJ30.0 1,149.4
1,054.5 858.5
868.3 753.1
746.9 698.9
775.1 906.6
796.0 &300.0
1,301.6 l,l52.7
1,526.7 lg329.0
1,632.2 1,668.6
Ammal Demands 33,676-g 14,671.O l5J56.9
1,886.3 1,997.2 1,742.8
1,797.4 2,093.6 1,819.l
1,674.g 1,7413 1,592.8
1,5173 1,712.5 1,375.g
lgO3.4 lJ45.2 1,045.2
893.5 1,397.0 904.8
897.7 896.9 819.3
847.9 854.0 799.3
lJ40.8 lJ93.3 1,034.2
1,409.8 1,203.2 1,234.g
1,651.2 1,775.l 1,593.0
l&7.5 1,609.5 1,601.o
16J87.7 17,918-g 15322
C-l
C-a&bad Municipal Water District
Agricultural Usages
(Acre Feet)
Month 85186 86/87 87/88 88/89 89190 Average == === === ======= ========================================
July
August
September
October
November
December
January
February
March
April
May
June
352.3
375.7
320.5
299.9
113.8
95.2
89.0
53.4
128.1
201.1
203.3
256.6
251.9 207.1 266.5 259.3 267.4
318.5 275.2 259.0 309.8 307.6
260.0 289.5 233.1 253.3 271.3
167.8 86.9 295.7 234.4 216.9
55.9 72.4 79.3 129.9 90.3
76.8 44.8 62.2 93.7 74.5
74.4 87.0 176.0 70.4 99.4
68.5 100.1 170.3 78.4 94.1
153.0 X38.1 178.7 128.4 145.3
194.6 124.4 244.5 187.9 190.5
189.6 226.0 138.4 247.2 200.9
238.5 249.1 213.4 235.2 238.6
Annual Demands 2$38.9 2,0495 l,900.6 2317.1 2J27.9 5196.8
c-2
a, 0 cd v) 3
cd
O I-
8 c/) >
cb L s I
7 c>
n -
L
Ts)
a
0 CD I 0, co m
7
2
CD co I u2 00 CD
c-3
Carlsbad Municipal Water District
Cost of Purchased Water
Month 85/86 86/87 87/88 88/89 89/9U Average =============== ==== ==== ========================== ======
JOY
August
September
October
November
December
January
February
March
April
May
June
366.8
393.1
349.3
330.2
208.3
147.5
206.3
147.7
178.5
266.8
357.3
344.0
400.2 416.9 484.8 553.2 444.4
431.1 451.5 461.9 579.9 463.5
364.1 401.2 430.4 482.3 405.5
279.1 283.9 390.0 474.4 351.5
260.5 212.0 257.9 400.3 267.8
214.5 186.0 229.6 387.0 232.9
184.5 176.1 235.2 248.4 210.1
191.4 228.5 222.2 236.6 205.3
196.6 327.6 298.9 330.5 266.4
321.5 290.5 369.4 333.3 316.3
377.1 385.3 432.6 491.7 408.8
403.2 420.5 436.9 445.8 410.1
Ammal Demands 335.8 3,623-a 3,78Q.o 439.8 433.4 3,9826
c-4
Carlsbad Municipal Water District
Employee Summaries
85186 86/87 87/88 88189 89/90 ===================== ============================
Managerial 4.0 3.0 4.0 4.0 4.0
Admiitration 4.0 4.0 4.0 3.0 5.0
Engineering 5.0 5.0 6.0 6.0 7.0
Operations 13.0 14.0 15.0 15.0 15.0
Total 26.0 26.0 29.0 28.0 31.0
Tenure Summary
> 20 Years 2
15-19 Years 4
lo-14 Years 8
5-9 Years 5
c 5 Years I.2
Avg, Years
of Service 7.90
c-5