HomeMy WebLinkAbout1992-1993 Annual Audit Report'I~"( CITY _ 1
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SAN RAFAEL
AGENOA ITEM NO.: ... _.17.. .................................................. .
MEETING DATI!: ..... ~.§.b~.1J..Cl:.~y .... ..? .. f.... ... l~ .. ~ .. 4. ... _
POBOX 60. SAN RAFAEL. CALIF 94915/PHONE 14151456.1112
REPORT TO MAYOR AND CITV COUNCIL
SU~ECT: 1992/1993 Annual Audit Report
-eUBMITTED BYa...~-6...~~. APPROVED BY: ........................ ~J... ........................ _ .............. .
Ransom Coleman, Finance Director . Clty Manager
OAT.: January 31, 1994
Recommendation: Accept the report.
Summary/Background: C. G. Uhlenberg & Company has completed the
audit for the city. We have an unqualified opinion from the
auditors that these financial statements present fairly the
financial position of the City and the Agency as of June 30, 1993
in conformity with generally accepted accounting principles.
The enclosed report is a combined financial statement that includes
the Redevelopment Agency and the city. This is the third year that
C.G. Uhlenberg & Company has audited our records and we are very
satisfied with their work.
If you have any questions concerning the audit, a representative
from C.G. Uhlenberg & Company will be present at the meeting.
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CGU c. G. UHLENBERG & co.
CERTIFIED PUBLIC ACCOUNTANTS
INDEPENDENT AUDITOR'S REPORT
Honorable Mayor and Members
of the City Council of the
City of San Rafael
San Rafael, California
ROBERT E . BARSANTI. CPA.
ROBERT E McDONALD. C ,P ,A ,
PEGGY H , CHEN. C P .A
.JEFFREY.J IRA. C P ,A .
We have audited the accompanying general purpose fmancial statements of the City of San
Rafael, California, as of and for the fiscal year ended June 30, 1993, as listed in the
accompanying table of contents. These financial statements are the responsibility of the
City's management. Our responsibility is to express an opinion on these fmancial statements
based on our audit.
We conducted our audit in accordance with generally accepted auditing standards, and
Government Auditing Standards, issued by the Comptroller General of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the fmancial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the fmancial
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 fmancial statements referred to above presents fairly, in
all material respects, the financial position of the City of San Rafael, California, at June 30,
1993, and the results of its operations for the fiscal 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 supplementary schedules as identified in the accompanying
table of contents is presented for purposes of additional analysis. The information contained
in the supplementary schedules has not been subjected to the auditing procedures applied in
the audit of the general purpose fmancial statements and, accordingly, we express no opinion
thereon.
e.d. ~ /tr:
November 30, 1993
Redwood City, California
647 Veterans Boulevard, Redwood City, CA 94063
(415) 365-2323/FAX (415) 365-8394
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CITY OF SAN RAFAEL
FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30,1993
TABLE OF CONTENTS
PAGE NO.
INDEPENDENT AUDITOR'S REPORT . . . . . . . . . . . . . . . . . . . . 1
COMBINED FINANCIAL STATEMENTS -(GENERAL PURPOSE
FINANCIAL STATEMENTS):
Combined Balance Sheet -All Fund Types and
Account Groups ................................ 2
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances -All Governmental Fund
Types and Fiduciary Fund Type ...................... 3
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances -Budget and Actual
(Budget Basis) -General, Special Revenue, and
Debt Service Funds ., . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
NOTES TO FINANCIAL STATEMENTS 5 -16
SUPPLEMENTARY INFORMATION:
Schedule 1 -Long-Term Debt. . . . . . . . . . . . . . . . . . . . . . . . . . 17
Schedule 2 -Long-Term Obligation Transactions and
Debt Service Requirements .......................... 18
Schedule 3 -Fund Balances ........................... 19
General Fund:
Balance Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Statement of Revenues, Expenditures and Changes
in Fund Balance .............................. 21
Special Revenue Funds:
Combining Balance Sheet .................... .
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances . . . . . . . . . . . . . . . . . . . .
Capital Projects Funds:
Combining Balance Sheet .......................... .
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances ...................... .
22 -23
24 -25
26 -27
28 -29
Debt Service Funds:
Combining Balance Sheet .......................... .
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances . . . . . . . . . . . . . . . . . . . . . . . . . .
Trust and Agency Funds:
Combining Balance Sheet .......................... .
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances -Expendable Trust Funds . . . . . . . . . .
Statement of Changes in Assets and Liabilities -Agency Fund . . . . .
Public Employees Retirement System Analysis of Funding
Progress ..................................... .
30 -31
32 -33
34
35
36
37
- - -ASSETS AND OTHER DEBITS
Cash and investments (Note 2)
Cash with fiscal agent (Note 2)
Accounts receivable
Assessments receivable -deferred
Loan receivable
Inventory
Prepaid items
Fixed assets (Note 3)
Amount available in debt service funds
Amount available for outstanding claims
Amount to be provided for retirement of:
General long-term debt
Vacation and sick leave obligations
TOTAL ASSETS AND
OTHER DEBITS
LIABILITIES AND FUND EQUITY
LIABILITIES:
Accounts payable
Accrued salaries and benefits (Note 4)
Deferred compensation liability (Note 7)
Deposits and advances
Deferred revenue
Outstanding claims (Note 4)
Long-term debt (Note 4)
Total Liabilities
FUND EQUITY:
Investment in fixed assets (Note 3)
Fund balances (Note 5):
Reserved
Unreserved:
Designated
Undesignated
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CITY OF SAN RAFAEL
COMBINED BALANCE SHEET -ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 1993
GENERAL
FUND
$5,138,514
581,842
5,026
GOVERNMENTAL FUND TYPES
SPECIAL CAPITAL
REVENUE PROJECTS
FUNDS FUNDS
$12,949,495
522,181
$12,672,310
229,051
DEBT
SERVICE
FUNDS
$ 1,959,747
2,533,773
659,295
1,539,137
FIDUCIARY
FUND TYPES
TRUST AND
AGENCY
FUND
$ 5,476,186 $
ACCOUNT GROUPS
GENERAL GENERAL
FIXED LONG-TERM
ASSETS OBLIGATIONS
$
31,572,776
5,018,898
2,202,225
TOTAL
(MEMORANDUM
ONLy)
$ 38,196,252
2,533,773
1,992,369
1,539,137
5,026
31,572,776
5,018,898
2,202,225
27,290,970 27,290,970
1,959,779 1,959.779
$5,725.382 $13,471,676 $12.901,361 $ 6.691.952 $ 5,476.186 $ 31,572.776 $ 36.471,872 $ 112.311,205
$ 515,143 $ 705,997 $ 31,396 $ 87,791 $ 9,418 $ $ $ 1,349,745
516,224 1,959,779 2,476,003
4,640,667 4,640,667
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1,539,137 1,539,137
2,202,225 2,202,225
32.309.868 32.309.868
1,031,367 746,437 81,396 1,626.928 4.650.085 36,471,872 44.608.085
1,901,290
2,792,725
31,572,776 31,572.776
47,545 209,974 3,161,210 826,101 6,146,120
8,361,537 12,609,991 1,903,814 25,668,067
4,316,157 4.316,157
Total Fund Balances 4.694.015 12.725.239 12.819.965 5.065.024 826.101 36.130.344
Total Fund Equity 4.694.015 12.725.239 12.819.965 5.065,024 826,101 31,572.776 67.703.120
TOTAL LIABILITIES AND
FUND EQUITY $5.725.382 $13,471,676 $12.901.361 $ 6.691,952 $ 5,476.186 $ 31,572.776 $ 36,471,872 $ 112.311.205
See notes to general purpose financial statements.
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CITY OF SAN RAFAEL
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES AND FIDUCIARY FUND TYPE
REVENUES:
Taxes and special assessments
Licenses and permits
Fines and forfeitures
Uses of money and property
Intergovernmental
Charges for current services
Other revenue
Total Revenues
EXPENDITURES:
Current:
General government
Public safety
Public works and parks
Recreation
Other
Capital Outlay
Debt Service:
Principal retirement
Interest and fiscal charges
Total Expenditures
EXCESS (DEFICIENCy) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES):
Sale of fixed assets
Other transfers
Bond proceeds
Operating transfers -In
Operating transfers -Out
Total Other Financing
Sources (Uses)
EXCESS (DEFICIENCy) OF REVENUES
AND OTHER FINANCING SOURCES
GENERAL
FUND
FOR THE FISCAL YEAR ENDED JUNE 30,1993
GOVERNMENTAL FUND TYPES
SPECIAL CAPITAL
REVENUE PROJECTS
FUNDS FUNDS
DEBT
SERVICE
FUNDS
FIDUCIARY
FUND TYPE
TRUST AND
AGENCY
FUND
TOTAL
(MEMORANDUM
ONLy)
$ 19,403,704 $ 44,712 $ $ 3,353,699 $ $ 22,802,115
460,960 499,786 960,746
456,264 456,264
267,614 708,643 827,516 1,622,392 57,935 3,484,100
3,595,079 1,189,261 6,919 1,398 4,000 4,796,657
1,147,474 3,175,573 4,323,047
269,996 122,347 179,963 14,414 62,009 648,729
25,601,091 5,740,322 1,014,398 4,991,903 123,944 37,471,658
4,017,526 586,977 4,604,503
14,268,361 14,268,361
5,352,906 33,292 5,386,198
484,472 2,112,610 2,597,082
1,018,368 927,925 645,859 164,954 2,757,106
106,544 3,599,978 1,269,091 138,139 5,113,752
2,534,000 2,534,000
3,027,241 3,027,241
25,248,177 7,260,782 1,914,950 5,699,380 164,954 40,288,243
352,914 0,520,460) (900,552) (707,477) (41,010) (2,816,585)
155,073 155,073
(27,223) (27,223)
180,630 180,630
440,547 8,913,322 10,678 85,840 828,354 10,278,741
(510,538) (8,367,452) (349,488) (222,909) (828,354) 00,278,741)
(69,991) 700,943 (338,810) 16,338 308,480
OVER (UNDER) EXPENDITURES AND OTHER
FINANCING USES 282,923
FUND BALANCES AT BEGINNING OF YEAR 4,411,092
PRIOR PERIOD ADJUSTMENTS (Note 12)
FUND BALANCES AT END OF YEAR
(819,517)
13,544,756
(1,239,362)
14,050,416
(691,139)
6,023,704
(41,010)
867,111
(2,508,105)
38,897,079
8.911 (267,541) (258.630)
5,065,024
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CITY OF SAN RAFAEL
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGET BASIS) -GENERAL, SPECIAL REVENUE AND DEBT SERVICE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 3D, 1993
BUDGET
REVENUES:
GENERAL
ACTUAL
(BUDGET
BASIS)
VARIANCE
FAVORABLE
(UNFAVORABL~ BUDGET
SPECIAL REVENUE DEBT SERVICE
ACTUAL VARIANCE ACTUAL VARIANCE
(BUDGET FAVORABLE (BUDGET FAVORABLE
BASIS) (UNFAVORABLE) BUDGET BASIS) (UNFAVORABLE)
Taxes and special assessments
Licenses and pennits
$20,255,000 $19,648,208 $ (606,792) $ $ $ $ 89,250 $ 1,320,571 $ 1,231,321
Fines and forfeitures
Uses of money and property
Intergovernmental
Charges for current services
Other
Total Revenues
EXPENDITURES:
Current:
General government
Public safety
Public works and parks
Recreation
Other
Capital outlay
Debt Service:
Principal retirement
Interest and fiscal charge
Total Expenditures
EXCESS (DEFICIENCy) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES):
Sale of fixed assets
Other transfers
Bond proceeds
Operating transfers -In
Operating transfers -Out
Total Other Financing
Sources (Uses)
EXCESS (DEFICIENCy) OF REVENUES
412,000 460,960 48,960 500,000 499,786 (214)
500,000 456,264 (43,736)
199,000 26,203 (172,797) 32,000 322,669 290,669 1,239,016 1,239,016
2,915,000 3,258,590 343,590 985,500 1,102,580 117,080 750 1,398 648
1,253,000 1,153,800 (99,200) 2,066,087 2,134,175 68,088
65,000 304,983 239,983 122,347 122,347 14,414 14,414
25,599,000 25,309,008 (289,992) 3,583,587 4,181.557 597,970 90,000 2,575,399 2,485,399
4,014,238 3,975,473 38,765 658,719 841,643 (182,924)
14,955,913 14,118,968 836,945 193,930 41,411 152,519
5,626,568 5,296,861 329,707
475,508 484,472 (8,964) 2,164,987 2,074,840 90,147
978,889 901,546 77,343 714,673 1,024,649 (309,976) 221,559 (221,559)
134,667 106,544 28,123 1,742,406 3,228,701 (1,486,295)
165,000 1,450,000 (1,285,000)
18,400 2·,058,503 (2,040,103)
26,185,783 24,883,864 1.301.919 5,474,715 7,211,244 (1,736,529) 183,400 3,730,062 (3,546,662)
(586,783) 425,144 (1,591.911) (1.891,128) (3,029,687) 2,334,499 (93,400) (1,154,663) 6,032,061
18,513 18,513
(27,223) (27,223)
180,630 180,630
440,547 8,913,322 8,913,322 85,840 85,840
(510,538) (8,367,452) (8,367,452) . (222,909L . _(222,909)
(69,991) 564,383 564,383 16,338 16,338
AND OTHER FINANCING SOURCES OVER
(UNDER) EXPENDITURES AND OTHER
(2,465,304) $ 2,898,882 $ (93,400) $ 6,048,399 FINANCING USES $ (586,783)
FUND BALANCES AT BEGINNING OF YEAR
PRIOR PERIOD ADJUSTMENTS
FUND BALANCES AT END OF YEAR
355,153
4,411,092
$ 4,766,245
$1,591.911) 11,891,128)
13,544,756
$ 11,079,452
See notes to general purpose financial statements.
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(1,138,325)
6,023,704
(267,541)
$ 4,617,838
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CITY OF SAN RAFAEL
NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30, 1993
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Description of the Reporting Entity -The general purpose financial statements of the
City of San Rafael (the City) include the fmancial activities of the City and th~ City
of the San Rafael Redevelopment Agency (the Agency). The fmancial operations of
the Agency are closely related to the City, and the City Council has a continuing
oversight responsibility for the Agency . The oversight responsibility is determined on
the basis of budget adoption, taxing authority, funding and appointment of the
governing board.
Financial statements for the San Rafael Sanitation District are not included as it is
administered by a board separate from the City Council. This entity determines its
own budget, enters into contracts, has the legal right to acquire and dispose of
property and produce its own financial statements.
Description of Joint Venture Participation -The City participates in two joint venture
activities through formally organized and separate entities. The financial activities of
the California Joint Powers Risk Management Authority and the Marin County Major
Crimes Task Force are not included in the accompanying general purpose fmancial
statements as they are administered by boards separate from and independent of the
City (see Note 9).
Description of Funds and Account Groups -The accounts of the City are organized
on the basis of funds and account groups, each of which is considered a separate
accounting entity. The operations of each fund are accounted for with a separate set
of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues,
and expenditures. Government resources are allocated to and accounted for in
individual funds based upon the purposes for which they are to be spent and the
means by which spending activities are controlled. The various funds are grouped in
the fmancial statements in this report into categories as follows:
Governmental Funds
The General Fund is the general operating fund of the City. It is used to account for
all fmancial resources except those required to be accounted for in another fund.
Special Revenue Funds are used to account for the proceeds of specific revenue
sources (other than expendable trusts or major capital projects) that are legally
restricted to expenditures for specified purposes.
Capital Projects Funds are used to account for fmancial resources to be used for the
acquisition or construction of major capital facilities.
Debt Service Funds are used to account for the accumulation of resources for, and the
payment of, general long-term debt principal, interest, and related costs.
Fiduciary Funds
Trust and Agency Funds are used to account for assets held by the City as a trustee or
agent for individuals, private organizations, other governments, and/or other funds.
All trust funds are expendable. Expendable trust funds are accounted for in the same
manner as governmental funds. Agency funds are custodial in nature and do not
involve the measurement of the results of operations.
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Account Groups
General Fixed Assets Account Group -Fixed assets are accounted for in the general
fIxed assets account group rather than in governmental funds. No depreciation has
been provided on general fixed assets. Public domain (infrastructure) assets such as
roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, and
lighting systems are not capitalized.
General Long-Term Obligations Account Group -Long-term liabilities expected to be
fInanced from governmental funds are accounted for in the general long-term
obligations account group, not in the governmental funds.
Basis of accounting refers to when revenues and expenditures are recognized in the
accounts and reported in the financial statements. The accounting and fInancial
reporting treatment applied to a fund is determined by its measurement focus. All
governmental funds are accounted for using a current financial resources measurement
focus. With this measurement focus, only current assets and current liabilities
generally are included on the balance sheet. Operating statements of these funds
present increases (i.e., revenues and other fmancing sources) and decreases (i.e.,
expenditures and other financing uses) in net current assets.
All governmental funds, expendable trust funds and agency funds are accounted for
using the modified accrual basis of accounting. Their revenues are recognized when
they become measurable and available as net current assets.
Expenditures under the modified accrual basis of accounting are recognized when the
related fund liability is incurred, except for principal and interest on general long-term
obligations which is recognized when paid.
Budgets and Budgetary Accounting -The City annually adopts a budget for its general
fund (excluding certain workers' compensation and liability claims) and certain special
revenue and debt service funds to be effective July 1 for the ensuing fiscal year.
From the effective date of the budget, which is adopted at the department level, the
amounts stated therein as proposed expenditures become appropriations to the various
City departments. The City Council may amend the budget by resolution during the
fiscal year. The City Manager is authorized to transfer budgeted amounts between
accounts, departments or funds; the Council must approve any increase in the
City's total budget. Several supplemental appropriations were approved during the
course of the year. All unencumbered appropriations lapse at year-end.
Annual budgets for revenues are adopted on a cash basis (budget basis).
The City also adopts budgets annually for its Capital Projects Funds. Such budgets
are based on a project time frame, rather than a fIscal year "operating" time frame,
reappropriating unused appropriations from year to year until project completion.
The City does not adopt budgets for trust and agency funds, certain special revenue
grant funds, the special revenue equipment replacement fund, special assessment debt
service funds and special assessment capital projects funds.
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The City's budgetary process is based on the cash basis of accounting for certain
transactions. The results of operations are presented in the budget and actual
comparison statement in accordance with the budgetary process (budget basis) to
provide a meaningful comparison to budget. The results of actual operations on a
budgetary basis are reconciled to the results of operations on a generally accepted
accounting principles (GAAP) basis by fund type as follows:
Excess of revenues and other
sources over (under)
expenditures and other uses
(budget basis)
Adjustments arising from
differences between cash
basis and modified accrual
basis
Adjustments to record excess
of revenues and other
sources over (under)
expenditures and other
uses for unbudgeted funds
Excess of revenues and other
sources over (under)
expenditures and other
uses (GAAP basis)
General
Special
Revenue
Debt
Service
$355,153 $(2,465,304) $(1,138,325)
(64,893) 436,891 649,764
(7,337) 1.208,896 (202,578)
282,923 (819,517) (691.139)
Encumbrance accounting, under which purchase orders, contracts, and other
commitments for expenditures are recorded in order to reserve that portion of the
applicable appropriation, is employed as an extension of the budgetary process.
Investments are stated at cost, which approximates current (market) value, except for
investments of the Deferred Compensation Plan Agency Fund, which are stated at
current (market) value.
Restricted Cash and Investments -Certain proceeds of various special assessment
bonds, as well as certain resources set aside for their repayment, are classified as
restricted cash and investments on the balance sheet because their use is limited to
debt service by applicable bond covenants.
Fixed assets are stated at historical cost or estimated historical cost when actual cost is
not available.
Land held for sale is stated at cost which approximates net realizable value.
Accumulated Unpaid Vacation and Sick Leave -The City accounts for compensated
absences (unpaid vacation and sick leave) expected to be currently payable as accrued
payroll and benefits liability in the governmental funds to which they relate. The
balance of the earned and vested, but unused, compensated absences expected to be
paid subsequent to June 30, 1993 is recorded in the general long-term obligations
account group. Sick pay vesting was discontinued for employees hired after 1978.
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Property Tax Levy Collection and Maximum Rates -The State of California (State)
Constitution Article XIII A provides that the combined maximum property tax rate on
any given property may not exceed one percent of its assessed value unless an
additional amount for general obligation debt has been approved by voters. Assessed
value is calculated at 100 percent of market value as defined by Article XIII A and
may be adjusted by no more than two percent per year unless the property is sold,
transferred or improved. The State Legislature has determined the method of
distribution of receipts from a one percent tax levy among the counties, cities, school
districts and other districts.
Marin County assesses bills for, and collects property taxes as follows:
Lien dates
Levy dates
Due dates
Delinquent as of
Secured
March 1
July 1
50% on November 1
50 % on February 1
December 10 (for November)
April 10 (for February)
Unsecured
March 1
July 1
July 1
August 31
The term "unsecured" refers to taxes on personal property other than real estate, land
and buildings. These taxes are secured by liens on the property being taxed.
Property taxes levied are recorded as revenue and receivables, net of estimated
uncollectibles, in the fiscal year of levy.
"Total (Memorandum Only)" Information -Columns on the accompanying combined
fmancial statements captioned "Total (Memorandum Only)" do not present
consolidated financial information. They are not necessary for a fair presentation of
the financial statements, but are presented as additional analytical data. Interfund
eliminations have not been made in the aggregation of this data.
2. CASH AND INVESTMENTS
Cash balances from all funds are combined and invested to the extent possible
pursuant to the City Council approved Investment Policy and Guidelines and State
Government Code. The earnings from these investments are allocated monthly to
each fund based on an average of monthly opening and closing balances of cash and
investments. Investments are stated at cost except for those of Deferred
Compensation Plans which are shown at the current market value. The market value
information is provided as quoted on June 30, 1993. This is for information only
(except for Deferred Compensation Plans) to assess the actual value if the City were
to liquidate the investments before maturity. The City has no such intentions and will
hold the investments to maturity.
Authorized Investments per the City's Investment Policy and State Government Code
are:
Certificates of Deposit
Bankers Acceptances
Commercial Paper
Repurchase Agreement
Treasury Bills and Note
State of California Local Agency
Investment fund
Government Agency Securities
Medium Term Notes
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All pooled certificates of deposit and bank balances are entirely insured or
collateralized. The California Government Code requires California banks and
savings and loan associations to secure an agency's deposits by pledging government
securities as collateral. The market value of the pledged securities must equal at least
110% of an agency's deposits. California law also allows financial institutions to
secure local agency deposits by pledging first trust deed mortgage notes leaving a
value of 150% of a local agency's deposits.
The City may waive collateral requirements for deposits which are fully insured up to
$100,000 by the Federal Deposit Insurance Corporation (FDIC) or the Federal
Savings and Loan Insurance Corporation (FSLIC).
Cash and investments at June 30, 1993, consisted of the following:
Cash
Cash:
Demand accounts at banks $ 958,187
Petty cash 6,560
Deposits:
Certificates of Deposit 202,000
Investments :
Medium Term Notes 4,729,609
Cash with Fiscal Agent 2,543,773
Restricted cash on deposit with
bank trust departments -
Deferred Compensation 4,640,667
California Local Agency
Investment Fund 25,449,214
California Arbitrage Management
Program 2,200,015
Total Cash and Investments $ 40,730,025
The disposition of these monies by funds was as follows:
Funds:
General Fund
Special Revenue Funds
Capital Projects Funds
Debt Service Funds
Fiduciary Funds
TOTAL
9
$ 5,138,514
12,949,495
12,672,310
4,493,520
5.476,186
$ 40,730,025
Market Value
$ 958,187
6,560
202,000
4,729,609
2,543,773
4,640,667
25,449,214
2,200,015
$ 40,730,025
,
Credit Risk, Carrymg Amount. and Market Value of Deposits
The City Deposits are classified as to credit risk by three categories as follows:
Category 1 includes deposits insured or collateralized with securities held by the City
or by the City's agent in the City's name.
Category 2 includes deposits collateralized with securities held by the pledging
institution's trust department or agent in the City's name.
Category 3 includes deposits which are uncollateralized, or collateralized but the
pledged securities are not held in the City's name.
The carrying amounts of the applicable City deposits pursuant to the above categories
defined in GASB No.3 are as follows:
Categoa Carrying Market
2 3 Amount Value
Certificates
of Deposit ~100,000 ~102,000 ~ ~202,000 ~202,000
TOTALS ~100,OOO ~102,OOO ~ ~202,OOO ~202,OOO
Credit Risk Carrying Amount, and Market Value of Investments
Investments made by the City are classified as to credit risk by three categories as
follows:
Category 1 includes investments that are insured or registered or for which securities
are held by the City or its agent in the City's name.
Category 2 includes uninsured and unregistered investments for which the securities
are held by the counter party's trust department or agent in the City's name.
Category 3 includes uninsured and unregistered investments for which the securities
are held by the counter party, or by its trust department or agent but not in the City's
name.
The carrying amounts of the applicable City investments pursuant to the above
categories defmed in GASB No.3 are as follows:
10
)
3.
4.
)
CategorY Carrying Market
2 3 Amount Value
Medium-Term
Notes $ 4,729,609 $ $ $ 4,729,609 $ 4,729,609
Cash with
Fiscal Agent 2,543,773 2,543,773 2,543,773
Deferred
Compensation $ 4,729,609 $ 2,543,773 $ 4,640,667 4,640,667
California
Arbitrage
Management
Program 2,200,015 2,200,015
California Local
Agency Investment
Fund 25,449,214 25,449,214
TOTALS $ 39563,278 $39563,278
FIXED ASSETS
A summary of changes in general flxed assets follows:
Balance Balance
July 1, 1992 Additions Deductions June 30, 1993
Land and buildings $20,319,423 $ 90,141 $ $20,409,564
Rolling equipment 3,391,987 776,333 240,024 3,928,296
Furniture and
equipment 3,876,095 849,134 685,212 4,040,017
Improvements other
than buildings 3,194,899 3,194,899
Investment in general
fixed assets $30,782,404 $ 1,715,608 $ 925,236 $31,572,776
LONG-TERM DEBT
A schedule of long-term debt at June 30, 1993 is shown in Schedule 1. A schedule of
long-term obligation transactions and debt service requirements are shown in Schedule
2.
The City is "obligated in some manner" (as defmed by GASB No.6) for special
assessment debt because it must cover delinquencies of special assessments bonds with
other resources until foreclosure proceeds are received or because it has been
indicated that it may do so.
Long-term debt does not include special assessment debt issued under the 1911 Bond
Act as the City is not liable in any manner for repayment. The County of Marin acts
as the City's agent for property owners in collecting the assessments and forwarding
the collections to bondholders. The outstanding balance of the 1911 Bond Act as of
June 30, 1993 is $204,249.
At June 30, 1993, the other long-term debt consists of a $169,000 promissory note
bearing interest at 8 % with principal and accrued interest due and payable in
November 2024. The note was assumed to fmance the purchase of certain property,
by the Redevelopment Agency.
11
)
A schedule of long-tenn obligations transactions for the year ended June 30, 1992 and
future debt service requirements is shown in Schedule 2.
5 . FUND BALANCES
Fund balances consist of reserved and unreserved amounts. Reserved fund balances
represent that portion of a fund balance which is not appropriable for expenditure or
is legally segregated for a specific future use . The remaining portion is unreserved
fund balance. Portions of unreserved fund balance may be designated to indicate
tentative plans for financial resource utilization in a future period, such as for general
contingencies or capital projects. Such plans or intent are subject to change, have not
been legally authorized and may not result in expenditures.
A detailed schedule of the fund balances at June 30, 1993 is shown in Schedule 3 .
6. EMPLOYEES' RETIREMENT PLAN
Plan Description
All permanent employees are eligible to participate in the Marin County Employees'
Retirement Fund (the Fund). The Fund is an agent multiple-employer defmed benefit
retirement plan that acts as a common investment and administrative agent for various
local governmental agencies within the County of Marin. The Fund provides
retirement, disability, and death benefits based on the employee's years of service,
age and final compensation. Employees vest after five years of service and are
eligible to receive retirement benefits after 20 years of service for safety employees
and at the age of 50 for other covered employees. These benefit provisions and all
other requirements are established by County ordinance.
The City contributed 18.94% of payroll to the Fund for public safety personnel and
9.44% for other covered employees for the year ended June 30, 1993. The City's
covered payroll for employees participating in the Fund for the year ended June 30,
1993 was $13,545,646. The City's 1993 payroll for all employees was $15,616,383.
The City, due to a collective bargaining agreement, also has a legal obligation to
contribute half of the employee's contribution up to a maximum of 7 % of payroll for
safety employees and 5 % of payroll for all other employees. Employees have an
obligation to contribute the remaining portion.
Funding Status and Progress
The "pension benefit obligation" is determined for each participating employer by the
Fund's actuary and is a standardized disclosure measure that results from applying
actuarial assumptions to estimate the present value of pension benefits, adjusted for
the effects of projected salary increases and step rate benefits, 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 City's portion of the Fund to which contributions are
made 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 . The pension benefit obligation was computed as part of an
actual valuation performed as of July 1, 1987 and updated as of July 1, 1990. The
significant actuarial assumptions used in the 1990 update to compute the pension
benefit obligation were an assumed rate of return on investment assets of 8 %, and
annual payroll increases of 10% per year before four years of service, and 6% per
year thereafter.
12
Total unfunded pension benefit obligation applicable to the City's employee groups at
July 1, 1992 follows:
Pension Benefit Obligation:
Retirees and beneficiaries
currently receiving
benefits and terminated
employees not yet receiving
benefits
Current employees:
Accumulated employee
contributions and
allocated investment
earnings
Employer-financed, vested
Employer-fmanced, nonvested
Total pension benefit obligation
Net assets available for benefits,
at cost
Unfunded pension benefit obligation
$ 34,887,700
7,936,700
25,616,400
1,317,500
68,758,300
68,149,500
$ 608,800
Actuarially Determined Contributions Required and Contributions Made
The funding policy of the Fund provides for actuarially determined periodic
contributions by the City at rates such that sufficient assets will be available to pay
Fund benefits when due. The contribution to the Fund for the year ended June 30,
1992 of $3,369,493 was made in accordance with the actuarially determined
requirements computed as of July 1, 1992. The City contributed $2,171,890 (18.94%
of current covered payroll). The employees' contribution was $534,329 (9.44% of
current covered payroll) of which the City paid $663,274.
The contribution rate for normal cost is determined using the Entry Age Normal
Actuarial Cost Method, 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.
The Fund also uses the level percentage of payroll method to amortize the unfunded
actuarial liability over a thirty-year period.
Significant actuarial assumptions used in the 1992 valuation to compute the actuarially
determined contribution requirement are the same as those used to compute the
pension benefit obligation as described above.
Three-Year Historical Trend Information
Trend information gives an indication of the progress made in accumulating sufficient
assets to pay benefits when due. Four-year trend information for the Fund may be
found in the City's supplementary section of the annual report.
13
)
For the City's share of the Fund, trend infonnation for the years ended June 30,
1992, 1991 and 1990 follows:
1992 1991 1990
Net assets available for
benefits, at cost $68,149,500 $ 53,797,751 $ 52,557,110
Pension benefit obligation 68,758,300 62,134,700 57,141,500
Net assets available for
benefits as a percentage
of pension benefit
obligation 99% 87% 92%
Unfunded pension benefit
obligation 608,800 8,336,949 4,584,390
Annual covered payroll 13,759,522 13,759,522 12,470,300
Unfunded pension benefit
obligation as a percentage
of annual covered
payroll 4% 61% 37%
Employer's contributions, made in accordance with actuarially detennined
requirements, as a percentage of annual covered payroll was 16 %, 16 % and 17 % for
1992, 1991, and 1990, respectively.
Post-employment Health Care Benefits
In addition to providing pension benefits, the government provides certain health care
benefits for retired employees and their spouses. Substantially all of the City's
employees may become eligible for these benefits if they are receiving a retirement
benefit from the Marin County Employees Retirement Fund within 120 days of
retirement from City employment. The cost of retiree health care benefits is
recognized as an expenditure as claims are paid. For 1993, those costs total
$249,337.
7 . DEFERRED COMPENSATION PLAN
The City offers its employees a deferred compensation plan created in accordance
with Internal Revenue Code Section 457. The plan, available to all City employees,
pennits them to defer a portion of their salary until future years. The deferred
compensation is not available to employees until tennination, 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.
Participants' rights under the plan are equal to those of general creditors of the City
in an amount equal to the fair market value of the deferred account for each
participant.
14
8 . RISK MANAGElVIENT
The City is self-insured for general liability purposes for the first $500,000 per
occurrence and for workers' compensation purposes for the first $300,000 per
occurrence. The City purchases commercial insurance for workers' compensation
claims in excess of self-insurance coverage, and is a member of the California Joint
Powers Risk Management Authority for liability claims in excess of self-insurance
coverage. Settled claims have not exceeded this coverage in any of the last two fiscal
years.
The General Fund has reserved $1,905,802 for the payment of insurance claims. The
claims liability of $1,853,831, shown in the General Long-Term Obligation Account
Group, is based on the requirements of Governmental Accounting Standards Board
Statement No. 10, which requires that a liability for claims be reported if
information prior to the issuance of the financial statements indicates that it is
probable that a liability has been incurred at the date of the financial statements and
the amount of the loss can be reasonably estimated.
9 . INVESTMENT IN JOINT VENTURES
The City participates in two joint venture activities through formally organized and
separate entities established under the Joint Exercise of Powers Act of the State of
California. As separate legal entities, these entities exercise full powers and
authorities within the scope of the related Joint Powers Agreement including the
preparation of annual budgets, accountability for all funds, the power to make and
execute contracts and the right to sue and be sued. Obligations and liabilities of the
separate entities are not those of the City.
The Marin County Major Crimes Task Force (the Task Force) was established by
twelve local law enforcement agencies to conduct narcotics investigations in Marin
County. The Task Force has an oversight committee consisting of three city
managers, one council member, and one member of the board of supervisors.
The California Joint Powers Risk Management Authority (the Risk Management
Authority) which began operations in February 1986, is a governmental self-insurance
cooperative organized under a joint power agreement. The Risk Management
Authority pools self-insurance losses of charter and associate members, develops
risk management programs, and provides for administration of pooled coverage
claims.
The summary of annual fmancial information as of and for the fiscal year ended June
30, 1992 (date of most recent available audited fmancial statements) for the Task
Force and the Risk Management Authority is as follows:
Total assets
Total liabilities
Total fund balance/retained earnings
Total revenues
Total expenditures/expenses
Net increase
11. LITIGATION
Task
Force
$ 1,648,764
126,033
1,522,731
1,206,095
701,123
504,972
Risk Management
Authority
$ 41,927,389
21,545,254
19,578,598
6,326,849
6,188,255
4,239,369
There are several pending lawsuits in which the City is involved. The City's
Attorneys estimate that the potential claims against the City not covered by insurance
resulting from such litigation would not materially affect the fmancial statements of
the City.
15
)
12. PRIOR PERIOD ADJUSTMENTS
Capital Projects Fund
The adjustment to the fund balance of $8,911 was due to an underaccrual of
receivables.
Debt Service Fund
The adjustment to the fund balance of $267,541 was due to an underaccrual of
payables.
16
NOI.LVWlIO.iNI
XlIV.LN3W31ddilS
(
CITY OF SAN RAFAEL
LONG-TERM DEBT
JUNE 30, 1993
General Obligation Bonds (a)
Open space bonds
Total General Obligation Bonds
Tax Allocation Bonds (b)
1977 Series
1992 Series
Total Tax Allocation Bonds
Special Assessment Bonds
(with governmental commitment)(c)
East San Rafael Drainage No.1
East Francisco Boulevard
Lucas Valley
Sun Valley
Northgate/Civic Center
Northgate/Civic Center -Refunding
Kerner Boulevard Refunding
Peacock Gap Improvement
Mariposa Road Assessments
Total Special Assessment Bonds
(with governmental commitment)
Other Long-term Debt
Total Long-term Debt
Paid Through Debt
Service -Tax
Allocation
MATURITY
1993
1995
2017
1992
1997
1998
2006
2011
2011
2005
2005
2008
2025
Debt service payments are generally made from the following sources:
(a) Property taxes recorded in the General Fund
(b) Incremental property taxes recorded in the Redevelopment Agency
(Capital Projects) Fund
(c) Special assessment revenues recorded in the various Special
Assessment (Debt Service) Funds
INTEREST
RATES
4.00 -5.00
5.25 -6.00
3.25 -6.45
6.00
8.00 -11.00
5.50 -5.75
5.50 -8.50
7.00 -9.70
5.25 -7.60
5.75 -8.0
10.00 -10.85
4.50 -6.90
8.00
SCHEDULE 1
17
AUTHORIZED
AND ISSUED
$ 2,250,000
4,660,000
18,615,000
2,067,280
75,965
217,393
357,326
4,435,920
3,365,000
6,445,000
9,171,065
233,688
· -"
OUTSTANDING
JUNE 30, 1993
$ 185.000
185.000
1,700,000
17,835,000
19,535,000
10,000
20,000
84,000
266,000
3,320,000
5,260,000
3,100,000
233,688
12,293,688
169,000
$ 32,182,688
Balance at June 30, 1992
Additions:
Vacations and sick leave
obligations (net)
Outstanding claims (net)
Capital lease purchases
Refundings
Retirements -principal
repayments
Balance at June 30, 1993
'-
CITY OF SAN RAFAEL
LONG-TERM OBLIGATION TRANSACTIONS AND DEBT SERVICE REQUIREMENTS
JUNE 30, 1993
GENERAL TAX SPECIAL OTHER LIABILITY
OBLIGATION ALLOCATION ASSESSMENT LONG-TERM LEASE
BONDS BONDS BONDS DEBT TOTAL DEBT PURCHASES
$355,000 $20,815,000 $13,144,000 $ 169,000 $ 34,483,000 $ 436,427
190,493
233,688 233,688
Lt70.000L ... __ (L~J!Q.QQQ)_ 0.084.000) . __ -. (2.534.000) (499.740)
VACATION AND
SICK LEAVE OUTSTANDING
OBLIGATIONS CLAIMS
$2,765,410 $1,853,835
(805,631) 348,390
$185.000 $19.535.000 $12.293.688 $ 169.000 $ 32.182.688 $ 127.180 $1,959.779 $2.202.225
The balance of outstanding claims as of June 30, 1992, has been restated to
include all liability and workers' compensation claims outstanding.
Debt service requirements, including interest, follow:
Year Ending June 30:
1994
1995
1996
1997
1998
Thereafter
GENERAL
OBLIGATION
BONDS
$194,250
TAX
ALLOCATION
BONDS
SPECIAL
ASSESSMENT
BONDS
LIABILITY
LEASE
PURCHASES
OTHER
LONG-TERM
DEBT TOTAL
$ 2,050,831 $ 1,566,569 $ 47,468 $ $ 3,859,118
2,071,559 1,570,165 31,813 3,673,537
2,069,436 1,566,533 24,403 3,660,372
1,448,926 1,570,652 22,560 3,042,138
1,447,659 1,565,745 20,380 3,033,784
28.523.274 14.343.910 169.000 43.036.184
Total $194.250 $37.611,685 $22.183.574 $146.624 $ 169.000 $60.305.133
SCHEDULE 2
18
Fund balances:
Reserved:
Encumbrances
Debt service
Refunds and projects
Insurance claims
Inventory/petty cash
Accounts receivable
Total Reserved
Unreserved and designated for:
Construction
Debt service
Traffic mitigation
Working capital
Total Unreserved
and Designated
Unreserved and Undesignated
'-~
TOTAL FUND BALANCES
GENERAL
$ 77,605
1,815,099
8,586
CITY OF SAN RAFAEL
FUND BALANCES
JUNE 30, 1993
GOVERNMENTAL FUND TYPES
SPECIAL CAPITAL
REVENUE PROJECTS
DEBT
SERVICE
'--"
FIDUCIARY
FUND TYPE
TRUST AND
AGENCY
TOTAL
(MEMORANDUM
ONLy)
$ 47,545 $ 500 $ $ $ 125,650
3,161,210 3,161,210
826,101 826,101
1,815,099
8,586
209.474 209.474
1,901,290 47,545 209,974 3.161,210 826.101 6,146,120
12,609,991 12,609,991
1,903,814 1,903,814
8,361,537 8,361,537
2,792,725 2,792,725
2,792,725 8,361,537 12,609,991 1,903,814 25,668,067
4,316,157 . 4,310,157
$4,694,015 $12,725,239 $12,819,965 $ 5,065,024 $ 826.101 $36,130,344
SCHEDULE 3
19
-
)
.J
- - -ASSETS - - -
Cash and investments
Accounts receivable
Due from other funds
Inventory
TOTAL ASSETS
CITY OF SAN RAFAEL
GENERAL FUND
BALANCE SHEET
JUNE 30, 1993
- - -LIABILITIES AND FUND BALANCE
LIABILITIES:
Accounts payable
Accrued salaries and benefits
Total Liabilities
FUND BALANCE:
Reserved
Unreserved:
Designated
Total Fund Balance
TOTAL LIABILITIES
AND FUND BALANCE
20
$4,872,488
581,842
266,026
5~026
$ 5,725,382
$ 515,143
516,224
1,031,367
1,901,290
2,792,725
4,694,015
$ 5,725,382
I
j
CITY OF SAN RAFAEL
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
FOR THE FISCAL YEAR ENDED JUNE 30,1993
REVENUES:
Taxes and special assessments
Licenses and permits
Fines and forfeitures
Uses of money and property
Intergovernmental
Charges for current services
Other
Total Revenues
EXPENDITURES:
Current:
General government
Public safety
Public works and parks
Recreation
Other
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) 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
FUND BALANCE AT END OF YEAR
21
$19,403,704
460,960
456,264
267,614
3,595,079
1,147,474
269,996
25,601,091
4,017,526
14,268,361
5,352,906
484,472
1,018,368
106,544
25,248,177
352,914
440,547
(510,538)
(69,991)
282,923
4.411,092
$ 4,694,015
ASSETS:
Cash and investments
Accounts receivable
TOTAL ASSETS
'-
RECREATION ASSESSMENT
REVOLVING DISTRICT
FUND FUND
PARKING
SERVICE
FUND
CITY OF SAN RAFAEL
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1993
GAS
TAX
FUND
CHll.DCARE
FUND
EQUIPMENT SPECIAL
REPLACEMENT REVENUE
FUND FUND
PROPERTY MISCELLANEOUS OTHER
DISPOSAL SPECIAL MITIGATION
FUND REVENUE FUNDS
$ 4,772 $3,041 $209,994 $746,945 $14,020 $1,275,944 $936,450 $ 587,725 $ 1,134,548 $6,432,381
9, 63Jl__ ______ 157 53.694
14.402 1.275.944 1.188.242 $6.432.381
GRANT
FUNDS
$2,385
385
---LIABILITIES AND FUND BALANCES ---
LIABILITIES:
Accounts payable
Deposits and advances
Total Liabilities
FUND BALANCES:
Reserved
Unreserved:
Designated
Undesignated
Total Fund Balances
TOTAL LIABILITIES
AND FUND BALANCES
$12,566 $2,182 $ 3,594 $552.506 $14,020 $ 20,901 $ 28.449
40.440
$ $ 12.768 $ 2.624
12,566__ 2,182__ 3,594 . __ 552.506_14.020 20.90168...8_89 12,768 2,624
1,836 859 9,843 35,007
6,429,757
196.714 194.439 1,220.036 867,~61 587,725 1,175.474
$ 299
299
2,086
1.836 859 206.557 194.439 1.255.043 867.561 587.725 1.175.474 6.429.757 2.086
$14.402 $3.041 $210.151 $746.945 $14,020 $1.275.944 $936.450 $ 587.725 $1.188.242 $6.432.381 $2.385
(Continued) -1
22
- - -ASSETS - - -
Cash and investments
Accounts receivable
$
'-
RECREATION
GRANT
FUND
$
PARK
MITIGATION
FUND
CITY OF SAN RAFAEL
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1993
LmRARY
FUND
FALKIRK
GRANT
FUND
2ND STREET
TRAFFIC HAZARD
MITIGATION ELIMINATION
FUND FUND
INTEGRATED
ON-LINE
LmRARY
SYSTEM
FUND
FEDERAL
LITERACY
GRANT
FUND TOTALS
$ 51,595 $ 30,878 $ 1,526,185 $ $ -$ (7,368) $ 12,949,495
458.700 522.181
TOTAL ASSETS $ $ $ 51.595 $ 30.878 $ 1.984.885 $ $ -$ (7.368) $ 13.471.676
- - -LIABILITIES AND FUND BALANCES - - -
LIABILITIES:
Accounts payable
Deposits and advances
Total Liabilities
FUND BALANCES:
Reserved
Unreserved:
Designated
Undesignated
Total Fund Balances
TOTAL LIABILITIES
AND FUND BALANCES
$ $ $ 418 $ 31 $ 55,191 $ $ 50 $ 398 $ 705,997
40.440
418 31 55.191 50 398 746,437
47,545
1,929,694 8,361,537
51.177 30.847 (50) (7,766)'Utli,157
51.177 30.847 1.929.694 (50) __ (7,766L ____ i2.l2~239
$ 51.595
(Concluded) - 2
23
\....
CITY OF SAN RAFAEL
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED JUNE 30, 1993
RECREATION ASSESSMENT PARKING GAS EQUIPMENT SPECIAL PROPERTY MISCELLANEOUS OTHER
REVOLVING DISTRICT SERVICE TAX CHILD CARE REPLACEMENT REVENUE DISPOSAL SPECIAL ¥ITIGATION GRANT
REVENUES:
Taxes and special assessments
Licenses and permits
Uses of money and property
Intergovernmental
Charges for current services
Other revenue
Total Revenues
EXPENDITURES:
Current:
General government
Public works and parks
Recreation
Other
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCy) OF REVENUES
FUND FUND FUND FUND FUND FUND FUND FUND REVENUE FUNDS FUNDS
$ $35,039 $ $ $ $ $ $ $ 9,673 $ $
499,786
11,527 22,743 870 54,301 30,069 35,618 315,517 7,895
940,051 84,114 89,078
686.883 1,273.895 388.732 6.953 419.851 3,403
613 106.686 15.048
686.883 35.039 511,313 962.794 1.359.492 54.301 388.732 30.069 248.008 735.368 26.346
564,317
33,292
732,249 1,358,561
381,053 121,179 276,215 30,679
15.726 563,064 669 521.533 371.277 30.405 1,036,406 1,500
732.249 33.292 580 .043 563,064 1.359,230 521.533 381.053 492.456 306.620 1.036,406 32.179
OVER (UNDER) EXPENDITURES (45.366) 1.747 (68,730) 399,730 262 (467.232) 7.679 (462,387) (58.612) . (301,038) (5.833)
OTHER FINANCING SOURCES (USES):
Sale of fixed assets
Operating transfers -In
Operating transfers -Out
Total Other Financing
Sources (Uses)
EXCESS (DEFICIENCy) OF REVENUES
AND OrnER FINANCING SOURCES
OVER (UNDER) EXPENDITURES
18,513 136,560
53,731 550.750 421,000 1,111,105 6,730,795 7,919
(6.591) (350,000) (301) (234.756) (13.579)
47.140 (350,000) (301) 569,263 (234,756) 421.000 1.234,086 6.730.795 7,919
AND OrnER FINANCING USES 1.774 1,747 (68.730) 49,730 (39) 102,031 (227,077) (41,387) 1,175,474 6,429,757 2,086
FUND BALANCES AT
BEGINNING OF YEAR
FUND BALANCES AT END OF YEAR
62 !a88) 275.287 .144.709 ____ 3~__ 1.153,012 1.094,638 629.112
1.175.474 2.086
(Continued) -1
24
REVENUES:
Taxes and special assessments
Licenses and permits
Uses of money and property
Intergovernmental
Charges for current services
Other revenue
Total Revenues
EXPENDITURES:
Current:
General government
Public works and parks
Recreation
Other
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCy) OF REVENUES
OVER (UNDER) EXPENDITURES
OrnER FINANCING SOURCES (USES):
Sale of fixed assets
Operating transfers -In
Operating transfers -Out
Total Other Financing
Sources (Uses)
EXCESS (DEFICIENCy) OF REVENUES
AND OrnER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
$
'--
CITY OF SAN RAFAEL
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED JUNE 30,1993
RECREATION PARK
GRANT MmGATION
FUND FUND
$ $
21,800
INTEGRATED
2ND STREET ON-LINE FEDERAL
FALKIRK TRAFFIC HAZARD LmRARY LITERACY
LmRARY GRANT MITIGATION ELIMINATION SYSTEM GRANT
FUND FUND FUND FUND FUND FUND TOTALS
$ $ $ $ $ $ 44,712
499,786
228,873 1,230 708,643
61,124 14,894 1,189,261
79,418 316,438 3,175,573
122.347
79,418 61.J2~ _____ ~'l~,llL 1.230 14.894 5,740,322
73,741 43,961
22,660 586,977
33,292
2,112,610
1,097 927,925
1.059.398 3,599.978
21.800 73.741 43.961 1.059.398 1.097 22.660 7.260.782
(21.800) 5.677 17.163 (514,087) 133 (7.766) (1.520,460)
155,073
38,022 8,913,322
(38.563) (539.633) (7.919) (7.175.520) (590) (8.367,452)
(38.563) (501.611) (7.919) (7.175,520) (590) 700.943
OrnER FINANCING USES (60,363) (501,611) (2,242) 17,163 (7,689,607) (590) 133 (7,766) (819,517)
FUND BALANCES AT
BEGINNING OF YEAR
FUND BALANCES AT
END OF YEAR
60.363 501.611 53.419 13.684 9.619.301 590 (183) 13,544.756
$ $ $ 51,177 $ 30.847 $ 1.929.694 $ -$ (50) $ (7.766) $ 12.725.239
(Concluded) - 2
25
---ASSETS ---
Cash and investments
Accounts receivable
TOTAL ASSETS
'--...
- --LIABll..ITIES AND FUND BALANCES
LIABll..ITIES:
Accounts payable
Deposits and advances
Total Liabilities
FUND BALANCES:
Reserved
Unreserved:
Designated
Total Fund Balances
TOTAL LIABll..ITIES
AND FUND BALANCES
SPECIAL
ASSESSMENT
BOND FUND
$ 241,959
CITY OF SAN RAFAEL
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1993
OPEN
SPACE
FUND
$ 345,270
547
FRANCISCO
ASSESSMENT
BOND FUND
$ 6,690 $
... .....,
PARKS
FUND
PEACOCK GAP
ASSESSMENT
DISTRICT
FUND
$ 139,548
$ 241.959 $ 345,817 $ 6,690 $ $ 139,548
$ $ $ $ $
241,959 345,817 6,690 139,548
241,959 345,817 6,690 139,548
$ 241.959 $ 345,817 $ 6,690 $ $ 139,548
(Continued) -1
26
,
---ASSETS ---
Cash and investments
Accounts receivable
TOTAL ASSETS
\.-
---LIABILITIES AND FUND BALANCES
LIABILITIES:
Accounts payable
Deposits and advances
Total Liabilities
FUND BALANCES:
Reserved
Unreserved:
Designated
Total Fund Balances
TOTAL LIABILITIES
AND FUND BALANCES
SUN VALLEY
OPEN SPACE
ASSESSMENT
FUND
$15,253
CITY OF SAN RAFAEL
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1993
REDEVELOPMENT
ADMINISTRATION
FUND
LOW AND
MODERATE
HOUSING
FUND
CIVIC CENTER
NORTH GATE
REFUNDING
FUND
, ...
REDEVELOPMENT
AGENCY
REFUNDING
FUND TOTALS
$5,488,116 $ 21,649 $58,898 $6,354,927 $12,672,310
209.474 3.300 15.730 229.051
$15.253 $5.697.590 $ 24.949 $58.898 $6.370.657 $12.901,361
$ $ 11,198 $ 3.225 $ $ 16.973 $ 31,396
50.000 _____ ~OOO
61.198 3.225 16.973 81.396
209.974 209,974
15.253 5.426.418 21.724 58.898 6.353.684 12.609.991
15.253 5.636.392 21,724 58.898 6.353.684 12.819.965
$15.253 $5.697.590 $ 24.949 $58.898 $6.370.657 $12.901,361
(Concluded) -2
27
'-
CITY OF SAN RAFAEL
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED JUNE 30, 1993
REVENUES:
Uses of money and property
Intergovernmental
Other
Total Revenues
EXPENDITURES:
Current:
Other
Capital outlay
Total Expenditures
EXCESS (DEFICIENCy) OF REVENUES
OVER (UNDER) 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 (UNDER) EXPENDITURES AND OTHER
FINANCING USES
FUND BALANCES AT BEGINNING OF YEAR
PRIOR PERIOD ADJUSTMENT
RESIDUAL EQUITY TRANSFER
FUND BALANCES AT END OF YEAR
SPECIAL
ASSESSMENT
BOND FUND
$ $
241,959
PEACOCK GAP
OPEN FRANCISCO ASSESSMENT
SPACE ASSESSMENT PARKS DISTRICT
FUND BOND FUND FUND FUND
6,412 $ 352 $ 291 $ 6,700
3,502
6A1L__ 352 291 10,202
91,424
91.424
(8..i.QJ~_ 352 __ _ _ 291 10,202
(85,012)
430,829
(819) (322,597) 01.121)
(819J (322,597)____ 01.121)
(467) (322,306) (919)
7,157 322,306 140,467
$ 241.959 $ 345,817 $ 6,690 $ $ 139,548
(Continued) -1
28
~.
'--' ~
CITY OF SAN RAFAEL
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED JUNE 30,1993
REVENUES:
Uses of money and property
Intergovernmental
Other revenue
Total Revenues
EXPENDITURES:
Current:
Other
Capital outlay
Total Expenditures
EXCESS (DEFICIENCy) OF REVENUES
OVER (UNDER) 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 (UNDER) EXPENDITURES AND
OTHER FINANCING USES
FUND BALANCES AT BEGINNING OF YEAR
PRIOR PERIOD ADJUSTMENT
RESIDUAL EQUITY TRANSFER
FUND BALANCES AT END OF YEAR
SUN VALLEY
OPEN SPACE
ASSESSMENT
FUND
$ 776
776
776
REDEVELOPMENT
ADMINISTRATION
FUND
LOW AND
MODERATE
HOUSING
FUND
CIVIC CENTER/
NORTH GATE
REFUNDING
FUND
REDEVELOPMENT
AGENCY
REFUNDING
FUND TOTALS
$ 515,646 $ 19,800 $ 3,197 $ 274,342 $ 827,516
6,919 6,919
8.529 157.732 10.200 179.963
524.175 177.532 3.197 291.461 1.014.398
645,859 645,859
379,941 228,938 568,788 1,269,091
1.025.800 228.938 568.788 1.914.950
(501.625) (51.406) 3.197 (277 .327) (900.552)
10,678 10,678
(2.544) (12,407) (349,488)
(2.544) (12,407) 10.678 (338.810)
(1,768)
17,021
(501,625)
8,392,682
(1,089)
(51,406)
(2,180,446)
(2.253.576) 2.253.576
(9,210)
68,108
(266,649)
6,610,333
10,000
(1,239,362)
14,050,416
8,911
$15.253 $ 5.636.392 $ 21.724 $ 58.898 $ 6.353.684 $ 12.819.965
(Concluded) - 2
29
--
- - -ASSETS - - -
Cash and investments
Cash with fiscal agent
Accounts receivable
Assessments receivable -deferred
TOTAL ASSETS
GENERAL
OBLIGATION
FUND
$206,164
2,388
CITY OF SAN RAFAEL
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1993
KERNER
ASSESSMENT
8/29
REFUNDING
FUND
EAST
FRANCISCO
BOULEVARD
FUND
PEACOCK
FUND
-'
KERNER SUN VALLEY MARIPOSA
FUND FUND FUND
$305,973 $24 ,777 $ 810,432 $ 148,837 $ 72,335 $177,804
472,553 589,889
50,076 263
5.532 470.370 678.096 36,469
$208.552 $305.973 $30.309 $1,803,431 $1,416.822 $109.067 $177.804
-LIABILITIES AND FUND BALANCES ---
LIABILITIES:
Accounts payable
Deferred revenue
Total Liabilities
FUND BALANCES:
Reserved for debt service
Unreserved:
Designated
Total Fund Balances
TOTAL LIABILITIES
AND FUND BALANCES
$ $ $ $ $ $ $ 87,791
5.532 470.370 678.096 36,469
5 • .532 470.370 678.096 36,469 87.791
472,553 589,889 90,013
208,552 305.973 __ ___ 24.177 860,508 148.837 72.598
208,552 305,973 24,777 1,333.061 738.726 72,598 90.013
$208.552 $305,973 $30.309 $1,803,431 $1,416.822 $109.067 $177.804
(Continued) -1
30
- - -ASSETS - - -
Cash and investments
Cash with fiscal agent
Accounts receivable
Assessments receivable -deferred
TOTAL ASSETS
'--
- - -LIABILITIES AND FUND BALANCES
LIABILITIES:
Accounts payable
Deferred revenue
Total Liabilities
FUND BALANCES:
Reserved for debt service
Unreserved:
Designated
Total Fund Balances
TOTAL LIABILITIES
AND FUND BALANCES
CIVIC CENTER!
NORTH GATE
FUND
CITY OF SAN RAFAEL
DEBT SERVICE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1993
1915 ACT
BONDS
FUND
REDEVELOPMENT
AGENCY FUND
REDEVELOPMENT
AGENCY
REFUNDING
FUND TOTALS
$ 215,806 $ (12,381) $ 10,000 $ $1,959,747
169,428 55,777 692,838 553,288 2,533,773
986 12,381 44,491 548,710 659,295
334,252 14,418 1,539,137
$ 720,472 $ 70,195 $ 747,329 $1,101,998 $6,691,952
$ $ $ $ $ 87,791
334,252 14,418 1.539,137
334,252 14,418 1,626,928
169,428 737,329 1,101,998 3,161,210
216,792 55,777 10,000 1,903,814
386,220 55,777 747,329 1,101,998 5,065,024
$ 720,472 $ 70,195 $ 747,329 $1,101,998 $6,691,952
(Concluded) - 2
31
....... --J
CITY OF SAN RAFAEL
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED JUNE 3D, 1993
REVENUES:
Taxes and special assessments
Uses of money and property
Intergovernmental
Other
Total Revenues
EXPENDITURES:
Capital outlay
Principal retirement
Interest and fiscal charges
Total Expenditures
EXCESS (DEFICIENCy) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES):
Other transfers
Bond proceeds
Operating transfers -In
Operating transfers -Out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCy) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
FUND BALANCES AT
BEGINNING OF YEAR
PRIOR PERIOD ADJUSTMENT
FUND BALANCES AT END OF YEAR
KERNER
ASSESSMENT EAST
GENERAL 8/29 FRANCISCO
OBLIGATION REFUNDING BOULEVARD PEACOCK KERNER SUN VALLEY MARIPOSA
FUND FUND FUND FUND FUND FUND FUND
$ 92,111 $ $10,344 $ 743,646 $ 485,382 $ 27,036 $ 12,439
13,885 147,663 23,012 2,924 4,264
1,398
4.754
93,509 18.639 10.344 891,309 508.394 29.960 16.703
138,139
170,000 710,000 230,000 9,000
11,691 2.719 417.955 435.604 25.081 22,239
181,691 2.719 1,127.955 665.604 34.081 160.378
(88.182) 18.639 7.625 (236,646) (157.210) (4,121) (143,675)
(88,182)
296,734
819 11,121 5,892
(5.892) (187,443)
2,543
180,630
53,058
(5.892) 819 (176.322) 5.892 2.543 233.688
12,747 8,444 (412,968) (151,318) (1,578) 90,013
293,226 16,333 1,746,029 890,044 74,176
$ 208.552 $305,973 $24,777 $ 1,333,061 $ 738,726 $ 72.598 $ 90.013
(Continued) -1
32
--
REVENUES:
Taxes and special assessments
Uses of money and property
Intergovernmental
Other
Total Revenues
EXPENDITURES:
Capital outlay
Principal retirement
Interest and fiscal charges
Total Expenditures
'--
EXCESS (DEFICIENCy) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES):
Other transfers
Bond proceeds
Operating transfers -In
Operating transfers -Out
Total Other Financing Sources (Uses)
EXCESS (DEFICIENCy) OF REVENUES
AND OTHER FINANCING SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER FINANCING USES
"
CITY OF SAN RAFAEL
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED JUNE 3D, 1993
CIVIC CENTER!
NORTHGATE
FUND
1915 ACT
BONDS
FUND
REDEVELOPMENT
AGENCY FUND
REDEVELOPMENT
AGENCY
REFUNDING
FUND TOTALS
$ 323,606 $ 60 ,170 $588 ,029 $ 1,010,936 $ 3,353,699
10,650 24,022 1,395,972 1,622 ,392
1,398
9,660 14,414
343,916 60,170 612,051 2,406,908 4,991,903
138,139
45,000 90,000 500,000 780,000 2,534,000
254,346 8,219 101,583 1,747,804 3,027,241
299,346 98,219 601,583 2,527,804 5,699,380
44.570 (38,049) 10,468 (120,896) (707,477)
12,407
(27,223) (27,223)
180,630
85,840
(18,896) (10,678) ________ (222,909)
12,407 (46 ,119) (10,678) 16,338
FUND BALANCES AT BEGINNING OF YEAR
56,977
339,337
(84,168)
139,945
10,468
704,878
(131,574)
1,523,002
(691,139)
6,023,704
PRIOR PERIOD ADJUSTMENT (10,094) 31.983 (289,430) (267.541)
FUND BALANCES AT END OF YEAR $ 386,220 $ 55,777 $747,329 $ 1.101.998 $ 5,065,024
(Concluded) - 2
33
'--
- - -ASSETS - - -
Cash and investments
TOTAL ASSETS
- - -LIABILITIES AND FUND BALANCES
LIABILITIES:
Accounts payable
Deferred compensation liability
Total Liabilities
FUND BALANCES:
Reserved
Total Fund Balances
TOTAL LIABILITIES AND
FUND BALANCES
AGENCY FUND
DEFERRED
COMPENSATION
CITY OF SAN RAFAEL
TRUST AND AGENCY FUNDS
COMBINING BALANCE SHEET
JUNE 3D, 1993
EXPENDABLE TRUST FUNDS
MISCELLANEOUS BUSINESS LIBRARY
FIDUCIARY IMPROVEMENT FIDUCIARY
FUND FUND FUND
-...;
DAVIDSON
REQUEST
FUND TOTALS
$4,640,667 $ 29,007 $ 29,909 $ 10,801 $765,802 $5,476,186
$4,640,667 $ 29,007 $ 29,909 $ 10,801 $765,802 $5,476,186
$ $ $ $ $ 9,418 $ 9,418
4,640,667 4,640,667
4,640,667 9,418 4,650,085
29,007 29,909 10,801 756,384 826,101
29,007 29,909 10,801 756,384 826,101
$4,640,667 $ 29,007 $ 29,909 $ 10,801 $765,802 $5,476,186
34
.....
,/
CITY OF SAN RAFAEL
EXPENDABLE TRUST FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED JUNE 30, 1993
REVENUES:
Uses of money and property
Intergovernmental
Other
Total Revenues
EXPENDITURES:
Other
Total Expenditures
EXCESS (DEFICIENCy) OF REVENUES
OVER (UNDER) 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 (UNDER) EXPENDITURES AND OTHER
FINANCING USES
FUND BALANCES AT BEGINNING OF YEAR
FUND BALANCES AT END OF YEAR
MISCELLANEOUS
FIDUCIARY
FUND
$ 608
608
BUSINESS
IMPROVEMENT
FUND
LmRARY
FIDUCIARY
FUND
DAVIDSON
REQUEST
FUND TOTALS
$ $ 19,917 $ 37,410 $ 57,935
4,000 4,000
62.009_ ____ 62.009
66.009_ _____ 19.917 37.410 123.944
1,472 34,591 19,505 109,380 164,954
1,472 34,597 19,505 109,380 164,954
(864) 31,412 412 (71,970) (41,010)
828,354 828,354
(828.354) (828.354)
(828,354) 828,354
(864) 31,412 (827,942) 756,384 (41,010)
29,871 (1,503) 838.743 867,111
$ 29,007 $ 29,909 $ 10,801 $756,384 $ 826.101
35
)
CITY OF SAN RAFAEL
AGENCY FUND
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE FISCAL YEAR ENDED JUNE 30, 1993
Balance
June 30, 1992 Additions Deductions
DEFERRED COMPENSATION
ASSETS:
Cash and investments
TOTAL ASSETS
LIABILITIES:
Deferred compensation
plan payable
TOTAL LIABILITIES
$ 3,934,958
$ 3,934,958
$ 3,934,958
$ 3,934,958
$1,648,443 L21b734
$1,648,443 $ 942,734
$1.648,443 L21b734
$1,648,443 L21b734
36
Balance
June 30, 1993
$ 4,640,667
$ 4,640,667
$ 4,640,667
$ 4,640,667
'--
NET ASSETS
CITY OF SAN RAFAEL
MARIN COUNTY EMPLOYEES' RETIREMENT SYSTEM
REQUIRED SUPPLEMENTARY INFORMATION
ANALYSIS OF FUNDING PROGRESS
UNFUNDED ESTIMATED
FISCAL AVAILABLE PENSION BENEFIT PENSION BENEFIT ANNUAL COVERED
YEAR FOR BENEFITS OBLIGATIONS PERCENT AGE FUNDED
1987 $34,270,472 $44,443,000 77%
1988 38,223,191 47,800,000 80
1989 42,787,972 57,900,000 82
1990 52,557,110 57,141,500 92
1991 53,797,751 62,134,700 87
1992 68,149,500 68,758,300 99
Source : MCERS
Note: All available information is present and each preceding fiscal year information
will be added until ten years of trend information is reached.
37
OBLIGATION PAYROLL
$10,172,528 $10,680,121
9,576,809 11,180,372
9,112,028 12,229,560
4,584,390 12,470,300
8,336,949 13,759,522
608,800 13,619,000
...;
UNFUNDED PENSION
BENEFIT OBLIGATION
AS A PERCENTAGE
OF COVERED PAYROLL
95%
86
75
37
61
4