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1993-1994 Annual Audit Report14 AGENDA ITEM NO.: , ..... , .... ', ... , .... "., ........... , .................................. . t; CITY ,-t( ! OF rZiiSP I .iI __ _ SAN RAFAEL MEETING DATE: De. c,emb.e r " 19 .. , ... 1,9.9.4. ..... POBOX 60. SAN RAFAEL. CALIF 94915 /PHONE (4151 456·111 2 REPORT TO MAYOR AND CITY COUNCIL SUBUECT: 1993/94 Audit Report ~-'/ / :J ~-r-j/)-\~ SUBMITTED BV: .. :. ... , ......... , .... , ..................... , ............ ~ .............. , .................... APPROVED BV: ........................... ~ ................ . Ransom Coleman, Finance Director City Manager DATE: December 14, 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, 1994 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 fourth 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. 'File No. .................... ~-l ... _ .............. _.,--- * * * 17661 'OE tlNnf Sl.NtlWtll.Vl.S 1VI;)NVNH 13V1Vlt NVS JIU illJ ( r [ f l l 1 1 1 J ] CITY OF SAN RAFAEL FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30,1994 TABLE OF CONTENTS PAGENQ, 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 Special Revenue Funds: Combining Balance Sheet .................................................................. 20 -21 Combining Statement of Revenues, Expenditures and Changes in Fund Balances............................................................... 22 -23 1 I I , ] CITY OF SAN RAFAEL FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30,1994 TABLE OF CONTENTS PAGENQ, Capital Projects Funds: Combining Balance Sheet """"""""""""""""""""""""""""""""" 24 -25 Combining Statement of Revenues, Expenditures and Changes in Fund Balances""""""""""""",.""""".""""""""", 26 -27 Debt Service Funds: Combining Balance Sheet """"""""""""""""""""""""""""""""" 28 -29 Combining Statement of Revenues, Expenditures and Changes in Fund Balances """"",.""""""""""""""""",.""""","" 30 -31 Trust and Agency Funds: Combining Balance Sheet """""""""""""""""""""""""""",.,""'" 32 Combining Statement of Revenues, Expenditures and Changes in Fund Balances -Expendable Trust Funds""""""",,,,,,,,,,,,,,,, 33 Statement of Changes in Assets and Liabilities -Agency Fund ,.", .. """",."" 34 Public Employees Retirement System Analysis of Funding Progress .""""""""""",.""",."""."""""""""""",.,.", .. ,.""" .. "" 35 iQ@ c. C.' UHLENBERG & ~O. CERTIFIED PUBLIC ACCOUNTANTS ROBERT E. BARSANTI, C.P.A. ROBERT E. Mc DONALD, C.P.A. PEGGY H. CHEN, C.P.A. JEFFREY J. IRA. C.P.A. 1 J J ] } INDEPENDENT AUDITOR'S REPORT Honorable Mayor and Members of the City Council of the City of San Rafael San Rafael, California We have audited the accompanying general purpose financial statements of the City of San Rafael, California (the City), as of and for the fiscal year ended June 30, 1994, as listed in the foregoing table of contents. These financial statements are the responsibility of the City'S management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Goyernment 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 financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the fmancial position of the City ot' San Rafael, California, at June 30, 1994, 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 fmancial statements taken as a whole. The supplementary schedules, as listed in the foregoing 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. C.LI September 16, 1994 Redwood City, California ,&: 647 Veterans Boulevard, Redwood City, CA 94063 Phone (415) 365-2323 I Fax (415) 365-8394 "----' '----' - - -ASSETS AND OTHER DEBITS - - - Cash and investments Cash with fiscal agent Accounts receivable Deferred assessments receivable Loan receivable Inventory Prepaid items Fixed assets 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 and accrued salaries Deferred compensation liability Deposits and advances Deferred revenue Long-term debt Total Liabilities FUND EQUITY: Investment in fixed assets Fund balances: Reserved Unreserved: Designated Undesignated Total Fund Balances Total Fund Equity TOTAL LIABILITIES AND FUND EQUITY CITY OF SAN RAFAEL COMBINED BALANCE SHEET -ALL FUND TYPES AND ACCOUNT GROUPS JUNE 30, 1994 FIDUCIARY GOVERNMENTAL FUND TYPES FUND TYPES ACCOUNT GROUpS SPECIAL . DEBT CAPITAL TRUST AND GENERAL GENERAL TOTALS GENERAL REVENUE SERVICE PROJECTS AGENCY FIXED LONG-TERM (MEMORANDUM FUND FUNDS FUNDS FUNDS FUNDS ASSETS __ n OBLIGATIONS ONLY) $ 6,282,465 $13,519,921 $ 2,097,760 $12,299,998 2,030,156 430,460 647,055 191,959 1,582,144 302,697 5,026 29,304 5,032 548,711 $5,644,721 $ $ 32,028,502 18,380,340 80,751 $ 39,844,865 2,030,156 1,269,474 1,582,144 302,697 5,026 583,047 32,028,502 18,380,340 80,751 10,661,348 10,661,348 1.686.184 1.686.184 $6 747 255 $14172 008 $ 6.258,771 $12.724 654 $5.644.721 $32028502 $30.808623 $108454534 $ 760,750 $ 191,474 $ 243 $ 48,086 $ 2,000 5,142,003 106,251 50,000 1,712,874 76O.75L ___ 297.725_ _ 1.713.117 98.086 5.144.003 3,094,937 4,465,833 2,170,143 12,127,287 40,856 $ $ 1,686,184 $ 2,688,737 5,142,003 156,251 1,712,874 29.122.439 29.122.439 30.808.623 38.822.304 32.028.502 32.028.502 21,899,056 2,706,609 3,756,767 1,518,518 512,042 8,493,936 184959 5.651.683 856.993 57239 459.862 7.210.736 5986.505 13.874.283 4545 654 12.696.568 500.718 37 603.728 5.986.505 13.874.283 4545654 12.696.568 500 718 32028502 69.632.230 $ 6.747.255 $14 172 008 $ 6.258,771 $12 794 654 $ 5.644.721 $ 32.028.502 $ 30 808.623 $ 108 451.543 See notes to general purpose financial statements. 2 "'---' '------" 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 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): Bond proceeds Operating transfers -In Operating transfers -Out Payment of defeased debt 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 ADJUSTMENTS FUND BALANCES AT END OF YEAR FOR THE FISCAL YEAR ENDED JUNE 30, 1994 FIDUCIARY GOVERNMENTAL FUND TYPES FUND TYPE SPECIAL DEBT CAPITAL TRUST AND TOTALS GENERAL REVENUE SERVICE PROJECTS AGENCY (MEMORANDUM FUND FUNDS FUNDS FUNDS FUNDS ONL YI $19,320,317 $ 39,164 $5,224,637 $ 587,447 $ $25,171,565 464,310 524,406 988,716 476,433 476,433 414,369 553,110 221,469 544,505 28,239 1,761,692 3,569,971 1,392,549 116 4,962,636 1,067,961 3,024,922 4,092,883 496,308 1 415,321 353 691,029 23,764 2 626 775 25 809 669 6,949,472 5 446 459 1,823 097 52,003 40 080,700 4,429,391 569,943 50,988 135,353 205,536 5,391,211 13,807,740 118,091 13,925,831 5,349,225 1,558,255 6,907,480 490,942 751,819 1,242,761 946,227 1,239,497 1,395,031 42,850 3,623,605 1,213,824 43,457 1,257,281 2,647,131 2,647,131 2,256,485 480.66L _______ . -------.2.131.l52 25 023 525 5.451,429 4 954 604 2,054,508 248 386 37,732.452 786,144 1,498 043 491,855 (231,411) 096 383) 2.348,248 942,895 (436,549) 1,224,896 (1,580,124) 2,405,000 2,405,000 227,881 175,988 2,571,660 (364,084) (61,903) (129,000) (2,571,660) (3,236,556) (3 236,556> 506.346 (355.228) (967.759) 114,085 (129,000) (831,556) 1,292,490 1,142,815 (475,904) (117,326) (325,383) 1,516,692 4,694,015 12,728,056 5,065,025 12,819,963 826.101 36,133,160 3.412 (43,467) (6.069L __ (46.124) $ 5.986.505 $13 874 283 $4.545,654 $12,696 568 $500,718 $37 603 728 See notes to general purpose financial statements. 3 ..... 0...--,-----, 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, 1994 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 Debt Service: Principal retirement Interest and fiscal charge Total Expenditures EXCESS (DEFICIENCy) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES): Bond proceeds Operating transfers -In Operating transfers -Out Payment of defeased debt Total Other Financing Sources (Uses) EXCESS (DEFICIENCy) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES GENERAL FUND SPECIAL REVENUE FUNDS DEBT SERVICE FUNDS ACTUAL VARIANCE ACTUAL VARIANCE ACTUAL VARIANCE {BUDGET FAVORABLE {BUDGET FAVORABLE (BUDGET FAVORABLE BUDGET BASIS) (uNFAVORABLE> BUDGET BASIS) (uNFAVORABLE> BUDGET BASIS) (UNFAVORABLE) $18,829,000 $19,326,438 $ 497,438 $ $ 39,164 $ 39,164 $2,033,503 $ 5,668,976 $ 3,635,473 429,000 464,310 35,310 500,000 524,406 24,406 440,000 476,433 36,433 249,383 507,273 257,890 44,293 568,073 523,780 436,435 436,435 3,028,000 3,645,504 617,504 971,643 1,392,104 420,461 1,002,000 1,073,050 71,050 2,110,450 3,054,408 943,958 75,000 498042 423042 45,133 1415,321 1 370 188 353 353 24,052 383 25,991 050 1 938,667 3 671.519 6 993,476 3 321.957 2 033 503 6 105 764 4 072 261 4,055,151 4,427,604 (372,453) 1,104,101 608,303 495,798 138,779 (138,779) 14,066,331 13,805,317 261,014 13,300 129,369 (116,069) 5,507,064 5,345,734 161,330 1,372,396 1,558,255 (185,859) 482,578 491,320 (8,742) 735,818 751,819 (16,OOI) 949,275 941,085 8,190 19,534,482 1,281,106 18,253,376 25,132,857 1,213,824 23,919,033 528,700 2,647,131 (2,118,431) 2.2~485 (2.256.485) 25 060 399 25 011 060 49,339 47 892 954 5,542 676 42,350 278 528 700 5,042,395 (4,513 625> (1.008,016) 979,990 1.988 006 (44,221.435) 1.450 800 45 672.235 1 504,!l03 1,063,369 <441 434) 942,895 (436,549) 942,895 (436,549) 1,224,896 1,224,896 (1,580,124) (1,580,124) 2,405,000 2,405,000 227,881 227,881 (364,084) (364,084) (3,236,556) (3.236,556) 506,346 506,346 (355.228) _ (355,228) (967,759) _(967.759) AND OTHER FINANCING USES $ (J 0(8016) 1,486,336 $ 2.424,352 $(14,221 435> 1,095,572 $45,317,007 $1,504:803 95,610 $(1,409,193) FUND BALANCES AT BEGINNING OF YEAR PRIOR PERIOD ADJUSTMENTS ADJUSTMENTS TO BUDGETARY BASIS FUND BALANCES AT END OF YEAR 4,694,015 093,846) $ 5,986,505 12,728,056 3,412 .41..W. $13 874,283 See notes to general purpose financial statements, 4 5,065,025 (43,467) (571.514) $4545,654 S.1N:!IW:!I.1V.1S 'IVI::lNVNI.il :!ISOdlIfld 'IVlI:!IN:!I!> 0.1 S:!I.1ON r l r t I [ t 1 I J I 1. 1 I I CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of the Reporting Entity -The general purpose fmancial statements of the City of San Rafael (the City) include the fmancial activities of the City and the City of 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 fInancial statements in this report into categories as follows: qoyernmental 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 Reyenue 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. 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. Capital projects Funds are used to account for fmancial resources to be used for the acquisition or construction of major capital facilities. 5 } 1 1 CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 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. 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-Teon 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 fmancial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current fmancial 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 (Le., revenues and other fInancing sources) and decreases (i.e., expenditures and other fmancing 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 are 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. 6 1 j J ) I ) CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 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. The City I 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 (Deficiency) of revenues and other financing sources over (under) expenditures and other financing General uses (budget basis) $1,486,336 Adjustments arising from differences between cash basis and modified accrual basis (193,846) Special Revenue $1,095,572 47,243 Debt Service $ 95,610 (571,514) Excess (Deficiency) of revenues and other fmancing sources over (under) expenditures and other fmancing . uses (GAAP basis) $1.292,490 $1,142.815 $ (475.904) 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. 7 J ) CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 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 Leaye -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, 1994, is recorded in the general long-term obligations account group. Sick pay vesting was discontinued for employees hired after 1978. Property Tax Leyy Collection and Maximum Rates -The State of California (State) Constitution Article :xm 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 :xm 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 Delinquency 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 when received, in the fiscal year of levy, because of the adoption of the "alternate method of property tax distribution," known as the Teeter Plan, by the City and the County of Marin. The Teeter Plan authorizes the auditor-controller of the County of Marin to allocate 100% of the secured property taxes billed, but not yet paid. The County of Marin remits tax monies to the City in three installments, as follows: 50 % remitted on December 15 45 % remitted on April 15 5 % remitted on June 15 In fiscal year 1993/94, the County of Marin remitted a "one-time" allocation of 95 % of prior years' delinquent property taxes to the City. 8 1 J J 2. CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 "Totals (Memorandum Only)" Information -Columns on the accompanying combined financial statements captioned "Totals (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. 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, 1994. 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 I 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 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 fust 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). 9 I 1 ) CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 Cash and investments at June 30, 1994, consisted of the following: Cash Cash: Demand accounts at banks $ (387,999) Petty cash 4,600 Investments: Medium-Term Notes 3,503,965 Cash with Fiscal Agent 17,902,642 Restricted cash on deposit with bank trust departments - Deferred Compensation 5,142,002 California Local Agency Investment Fund 15,097,825 California Arbitrage Management Program 611.286 Total Cash and Investments ~ ~l.B7~.Q'1 The disposition of these monies by funds was as follows : Funds: General Special Revenue Debt Service Capital Projects Fiduciary TOTAL $ 6,282,465 13,519,921 4,127,916 12,299,998 5.644.721 $ 4LB15.Q21 Credit Risk Carrying Amount and Market Value of Investments Mark~t Valu~ $ (387,999) 4,600 3,378,605 17,752,358 5,142,002 15,097,825 611.286 ~ 41.~22.Jll 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. 10 3. 4. I CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 The carrying amounts of the applicable City investments pursuant to the above categories defined in Governmental Accounting Standards Board (GASB) Statement No.3 are as follows: Catel:Q~ Carrying Market 2 3 Amount ~ Medium-Term Notes $3,503,965 $ $ $ 3,503,965 $ 3,378,605 Cash with Fiscal Agent 17,902,642 17,902,642 17,752,358 Deferred Compensation ~J.~QJ.2~ ~1Z.2Q'.~~ i 5,142,002 5,142,002 California Local Agency Investment Fund 15,097,825 15,097,825 California Arbitrage Management Program 611.986 611,986 TOTALS i 42.258.1,0 $41,282.776 FIXED ASSETS A summary of changes in general fixed assets follows: Balance Balance July 1. 1993 AdditioDS Dedul<tioDS JUDe 3Q, 122~ Land and buildings $ 20,409,564 $ $ $ 20,409,564 Rolling equipment 3,928,296 375,209 145,792 4,157,713 Furniture and equipment 4,040,017 626,254 399,945 4,266,326 Improvements other than buildings 3,12~,822 3 12~,822 Investment in general fixed assets $ J1.572.776 $ l.OO1.4@ $ 545.737 $ n.028.502 LONG-TERM DEBI A schedule of long-term debt at June 30, 1994, 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 dermed by GASB Statement 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. 11 J J I J ) CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 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, 1994, is $157,065. At June 30, 1994, 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. 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, 1994, 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 fmal 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, 1994. The City'S covered payroll for employees participating in the Fund for the year ended June 30, 1994, was $15,271,617. The City'S 1994 payroll for all employees was $16,008,974. The City, due to a collective bargaining agreement, also has a legal obligation to contribute half of the employees' 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. 12 1 I 1 j CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 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 ~ccumulating 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. Total unfunded pension benefit obligation applicable to the City'S employee groups at July 1, 1993, 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-fmanced, vested Employer-fmanced, nonvested Total pension benefit obligation Net assets available for benefits, at cost Unfunded pension benefit obligation $37,690,700 8,572,200 26,593,000 1.426,200 74,282,100 67.709,149 $6,572,951 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, 1993, of $3,075,985 was made in accordance with the actuarially determined requirements computed as of July 1, 1993. The City contributed $2,559,801 (18.94% of current covered payroll). The employees' contribution was $516,184 (9.44% of current covered payroll) of which the City paid $623,786. 13 l J J ] 1 1 I ) CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 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. Seven-year trend information for the Fund may be found in the City's supplementary section of the annual report. For the City'S share of the Fund, trend information for the years ended June 30, 1993, 1992 and 1991 follows: .l.223. .l.222 1221 Net assets available for benefits, at cost $67,709,149 $59,981,950 $53,332,309 Pension benefit obligation 74,282,100 68,758,300 62,134,700 Net assets available for benefits as a percentage of pension benefit obligation 91% 87% 86% Unfunded pension benefit obligation 6,572,951 8,776,350 8,802,391 Annual covered payroll 13,230,660 13,759,522 13,759,522 Unfunded pension benefit obligation as a percentage of annual covered payroll 50% 64% 64% Employer's contributions, made in accordance with actuarially determined requirements, as a percentage of annual covered payroll was 19%, 20% and 20% for 1993, 1992, and 1991, 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 1994, those costs total $218,932. 14 1 I 1 I J 1 CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 7. DEFERRED COMPENSATION PLAN 8. 9. 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 termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the plan), subject only to the claims of the City's general creditors. 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. RISK MANAGEMENT The City is self-insured for general liability purposes for the frrst $500,000 per occurrence and for workers' compensation purposes for the frrst $250,000 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 $1,815,009 for the payment of insurance claims. The claims liability of $80,751, shown in the generallong-tenn obligation account group, is based on the requirements of GASH Statement No. 10, which requires that a liability for claims be reported if infonnation prior to the issuance of the fmancial statements indicates that it is probable that a liability has been incurred at the date of the fmancial statements and the amount of the loss can be reasonably estimated. INVESTMENT IN JOINT VENTURES The City participates in two joint venture activities through fonnally 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 Miijor 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. 15 I I ] I CITY OF SAN RAFAEL NOTES TO GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1994 The California Joint Powers rusk 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 for the Task Force for the fiscal year ended June 30, 1993, and the Risk Management Authority for the fiscal year ended June 30, 1994 (date of most recent available audited fmancial statements), is as follows: Total assets Total liabilities Total fund balance/retained earnings Total revenues Total expenditures/expenses Net increase 10. LITIGATION Task Force Fiscal Year 1992/93 $1,648,764 126,033 1,522,731 1,206,095 701,123 504,972 Risk Management Authority Fiscal Year 1993/94 $36,323,910 21,532,499 14,791,411 7,390,970 8,390,092 177,482 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. 11. PRIOR PERIOD ADJUSTMENTS Special Reyenue Funds The adjustment to the fund balance of $3,412 was due to an under accrual of accounts receivable. Debt Service Funds The adjustment to the fund balance of ($43,467) was due to an under accrual of accounts payable. Capital Projects Funds The adjustment to the fund balance of ($6,205) was due to an under accrual of accounts payable. 16 (UID.IUGVNf)) NOI.LVWlIO~N! XlIV.LN3W3'IddflS r ( r ( '-'---~ .... .. -~ CITY OF SAN RAFAEL LONG-TERM DEBT JUNE 30, 1994 ...._------ INTEREST AUTHORIZED OUTSTANDING MATURITY RATES AND ISSUED JUNE 30,1994 Tax Allocation Bonds (a): 1977 Series 1992 Series Total Tax Allocation Bonds Special Assessment Bonds (with governmental commitment) (b): 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 Peacock Gap Refunding Mariposa Road Assessments Total Special Assessment Bonds (with governmental commitment) Other Long-term Debt Total Long-term Debt 1995 2017 1992 1997 1998 2006 2011 2011 2005 2005 2005 2008 2025 Debt service payments are generally made from the following sources: (a) Incremental property taxes recorded in the Redevelopment Agency (Capital Projects) Fund (b) Special assessment revenues recorded in the various Special Assessment (Debt Service) Funds 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 4,00 -4,75 4,50 -6,90 8.00 SCHEDULE 1 17 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 2,405,000 233,688 1,165,000 17.495,000 18,660,000 10,000 15,000 70,000 254,000 3,225,000 4,000,000 2,405,000 233,688 10,212,688 169,000 $29,041,688 '--- Balance at June 30, 1993 Additions: Vacation and sick leave obligations (net) Outstanding claims (net) Refundings Retirements : Principal repayments Balance at June 30, 1994 '---' ----. '-- CITY OF SAN RAFAEL LONG-TERM OBLIGATION TRANSACTIONS AND DEBT SERVICE REQUIREMENTS JUNE 30, 1994 GENERAL TAX SPECIAL OTHER LIABILITY VACATION AND OBLIGATION ALLOCATION ASSESSMENT LONG-TERM LEASE SICK LEAVE OUTSTANDING BONDS BONDS BONDS DEBT TOTAL DEBT PURCHASES OBLIGATIONS_ CLAIMS $185,000 $19,535,000 $ 12,293,688 $169,000 $ 32,182,688 $ 127,180 $ 1,959,779 $ 2,202,225 (273,595) (2,121,474) 2,638,688 2,638,688 (185.000) (875.oooL (4.719.688) {S.179.688L ~J27.1801 $ $18.669 000 $ to 212.688 $169000 $ 29041,688 $ $ 1.686.184 $ 80.751 Debt service requirements, including interest, follows: Year Ending June 30: 1995 1996 1997 1998 1999 Thereafter Total GENERAL TAX SPECIAL OTHER LIABILITY OBLIGATION ALLOCATION ASSESSMENT LONG-TERM LEASE BONDS BONDS BONDS _ _DEBT____ __ PURCHASES__ ___---'I'OTAL $ $ 2,043,185 $ 1,233,582 $ $ 31,813 $ 3,308,580 2,045,366 1,757,933 24,403 3,827,702 1,425,356 1,467,018 22,560 2,914,934 1,424,614 1,938,926 20,380 3,383,920 1,427,057 1,993,561 3,420,618 27.195.284 13.326.589_ _169.~_______ _ ______ A0.620.813 $ $35569.862 $ 21,7 17 ·609 $ 169·000 $ 99 156 $ 57.516.627 SCHEDULE 2 1 8 Fund balances: Reserved: Encumbrances Debt service Refunds and projects Redevelopment 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 '---- CITY OF SAN RAFAEL FUND BALANCES JUNE 3D, 1994 ~ ~ FIDUCIARY GOVERNMENTAL FUND TYPES FUND TYPE TOTAL SPECIAL DEBT CAPITAL TRUST AND (MEMORANDUM GENERAL_ ~\TENUE _SERVICE__ PROJECTS AGENCY ONLY) $ 131,052 $ 87,746 $ $ 559 $ $ 219,357 2,170,143 2,170,143 1,498,394 3,731,032 40,856 5,270,282 11,934,769 11,934,769 1,026,405 1,026,405 8,626 8,626 430.460 647 055 191.959 1.269.474 3.094,937 4.465 833 2.170 143 12 127287 40.856 21 899056 512,042 512,042 1,518,518 1,518,518 3,756,767 3,756,767 2.706.609 2.706.609 2.706.609 _ _ ___ 3.756.767 1.518.518 512.042 8.493.936 184,959 5,651.683 856.993 57,239 459,862 7210.736 $ 5.986.505 $ 13 874.283 $ 4 545.654 $12.696 568 $ 500 718 $ 37 603 728 SCHEDULE 3 19 '---'----' ---ASSETS--- Cash and investments Accounts receivable Prepaid items TOTAL ASSETS - - -LIABILITIES AND FUND BALANCES - - - LIABILITIES: Accounts payable and accrued salaries Deposits and advances Total Liabilities FUND BALANCES: Reserved Unreserved: Designated Undesignated Total Fund Balances TOTAL LIABILITIES AND FUND BALANCES CITY OF SAN RAFAEL SPECIAL REVENUE FUNDS COMBINING BALANCE SHEET JUNE 30, 1994 RECREATION ASSESSMENT PARKING GAS EQUIPMENT SPECIAL PROPERTY MISCElLANEOUS OTIIER REVOLVING DISTRICT SERVICE TAX CHILDCARE REPLACEMENT REVENUE DISPOSAL SPECIAL MITIGATION FUND FUND FUND FUND FUND FUND FUND FUND REVENUE FUNDS $21 ,919 44 $3,793 $311,752 $621,325 12,751 $33,280 5.032 $1,548,036 17,737 $976,385 $ 940,036 $ 894,045 57,025 $ 7,985,917 $21.963 $3.793 $ 324.503 $621.325 $38.312 $ 1.565.773 $ 976.385 $ 940.036 $ 951.070 $ 7.985.917 $12,465 $7,132 $ 3,770 $ $14,412 $ 19,784 $ 2,440 106.251 12.465 7.132 3.770 14.412 19.784 108.691 9,498 (3,339) 320,733 29,110 23,900 1,545,989 867,694 $ $ 7,447 $ 120,574 7.447 120.574 940,036 7,332 321,420 3,435,347 592.215 614.871 4.429.996 9.498 (3.339) 320.733 621.325 23.900 ~.545.989 867.69L .940.036 943.623 7.865.343 $21.963 $3 .793 $324.503 _ $621.325 _S38.3JL $ 1.565.773 $976.385 S 940.036 $951.070. __ .$7.985.917 (Continued) - 1 20 ---ASSETS --- Cash and investments Accounts receivable Prepaid items TOTAL ASSETS ---LIABll..ITIES AND FUND BALANCES --- LIABll..ITIES: Accounts payable and accrued salaries Deposits and advances Total Liabilities FUND BALANCES: Reserved Unreserved: Designated Undesignated Total Fund Balances TOTAL LIABll..ITIES AND FUND BALANCES ~ CITY OF SAN RAFAEL SPECIAL REYENUE FUNDS COMBINING BALANCE SHEET JUNE 30, 1994 INTEGRATED 2ND STREET ON-LINE FEDERAL RECREATION PARK FALKIRK TRAFFIC HAZARD LmRARY LITERACY GRANT GRANT MITIGATION LmRARY GRANT MITIGATION ELIMINATION SYSTEM GRANT BJNDS FUND BJND FUND FUND FUND FUND BJND BJND TOTALS $34,666 798 $ -$ -$51,652 $73,854 $ 26,232 558,700 $ -$ 495 $ (3,466) $ 13,519,9'" 647,(., 5.032 $35,464 $ -$ -$51 652 $73 854 $584.932 $ -$ 495 $ (3466) $ 14.172 008 $ 3,213 $ -$ -$ $ 237 $ $ -$ -$ $ 191,474 106.251 3.213 237 297 725 14,679 51,652 73,617 584,932 4,465,833 3,756,767 17 572 495 (3 466) 5 651 611' 32251 51 652 73617 584932 495 (3466) 13 874 283 $35,464 $ -$ -$51 652 $73 854 $584932 $ -$ 495 $ q 466) $ 14 172 008 (Concluded) - 2 21 REVENUES: Taxes and special assessments Licenses and pennits 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 ---' o...--J CITY OF SAN RAFAEL SPECIAL REVENUE BlNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN BlND BALANCES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 '----- RECREATION ASSESSMENT PARKING GAS EQUIPMENT SPECIAL PROPERTY MISCEllANEOUS OTIIER REVOLVING DISTRICT SERVICE TAX CHILDCARE REPLACEMENT REVENUE DISPOSAL SPECIAL MITIGATION $ FUND FUND FUND FUND FUND_ ... ___ __ FUND ____ -----.EUND__ _.EUND REVENUE FUNDS $26,788 759,481 $ 524,406 11,523 $ 19,565 978,562 $ $ $ $ $ 12,376 $ 1,998 64,255 26,349 29,223 30,582 334,950 92,018 108,194 1,488,012 396,777 15,911 322,041 605_ ---.l4.594 565.951396.849 30.087 382.219 759481 26788 536534 I 012721 I 582028 630206 423 126 426072 197 150 1 039210 422,358 29,487 1,528,768 751,819 240.835 29.360 339.260 535 494,968 41,497 118,091 128,547 485,386 122.147 1.164 Total Expendib.1res 751 819 29487 422358 240 835 1 558 128 339.260 494 968 535 410.282 486550 EXCESS (DEFICIENCy) OF REVENUES OVER (UNDER) EXPENDITURES 7662 (2699) 114,176 771 886 23900 290 946 C7J 842) 425537 (213.132) 55266Q OTHER FINANCING SOURCES (USES): Operating transfers -In 5,000 69,640 5,595 174,497 926,545 Operating transfers -Out C! 500) (350 (00) C78 821) (79639) (43619) Total Other Financing Sources (Uses) C! 500) (345 (00) 69640 m 225) (5 142) 882226 EXCESS (DEFICIENCy) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES FUND BALANCES AT BEGINNING OF YEAR PRIOR PERIOD ADJUSTMENTS BlND BALANCES AT END OF YEAR 7,662 (4,199) 114,176 426,886 23,900 290,946 (2,202) 352,311 (218,274) 1,435,586 1,836 860 206,557 194,439 1,255,043 867,561 587,725 1,178,289 6,429,757 2.335 (16.392) $ 2,498 $ C3 339) $320733 $ 621 325 S 23 900 $1 545989 $86] 694 $949,036 $ 943.623 $ 7865343 (Continued) - 1 22 REVENUES: Taxes and special assessments Licenses and permits 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 OrnER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES FUND BALANCES AT BEGINNING OF YEAR PRIOR PERIOD ADJUSTMENTS FUND BALANCES AT END OF YEAR '----' CITY OF SAN RAFAEL SPECIAL REVENUE BJNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 INTEGRATED 2ND STREET ON-LINE FEDERAL FALKIRK TRAFFIC TRAFFIC HAZARD LmRARY GRANT LmRARY GRANT MmGATION ELIMINATION SYSTEM GRANT FUNDS FUND BJND BJND FUND FUND BJND TOTALS $ $ $ $ $ $ $ $ 39,164 524,406 15,443 19,222 553,110 76,684 113,063 3,922 20,106 1,392,549 42,700 3,024,922 16827 8119 1415321 109 024 42.700 113 063 19222 12 041 20 106 6949 472 78,539 321 59,982 70,293 11,496 15,518 569,943 118,091 1,558,255 751,819 1,239,497 481.058 1.213.824 78860 59982 70293 481 058 II 496 15518 5451.429 30 164 07 282) 42 770 (461 836) 545 4 588 1 498 043 43,619 1,224,896 (926.545) . (L58O.l24) (882.926) _ _ -____ (355.228) 30,164 (17,282) 42,770 (1,344,762) 545 4,588 1,142,815 2,087 51,177 30,847 1,929,694 (50) (7,766) 12,728,056 17.757 _(288L _ 3A12 $32251 $51 652 $73617 $ 584932 $ -$ 495 $ C3 166) $13.874283 (Concluded) - 2 23 ~-- - - -ASSETS - - - Cash and investments Accounts receivable Loan receivable TOTAL ASSETS '--- - - -LIABILITIES AND FUND BALANCES LIABILITIES: Accounts payable and accrued salaries Deposits and advances Total Liabilities FUND BALANCES: Reserved Unreserved: Designated Undesignated Total Fund Balances TOTAL LIABILITIES AND FUND BALANCES CITY OF SAN RAFAEL CAPITAL PROJECTS FUNDS COMBINING BALANCE SHEET JUNE 3D, 1994 ... --~ ~ EAST PEACOCK GAP SPECIAL OPEN FRANCISCO ASSESSMENT 'ASSESSMENT SPACE ASSESSMENT PARKS DISTRICT BOND FUND FUND BOND FUND FUND ____ FUND $355,691 $ 350,833 $ 6,225 $ (2,778) $145,908 $355,691 $ 350,833 $ 6,225 $ (2778) $ 145 908 $ $ $ $ $ 355,691 350,833 6,225 (2,778) 145,908 355,691 350,833 6,225 (2 778) 145,908 $355 691 $ 350,833 $ 6225 $ (2,778) $145,908 (Continued) - 1 24 ---ASSETS--- Cash and investments Accounts receivable Loan receivable TOTAL ASSETS .. -- - - -LIABILITIES AND FUND BALANCES LIABILITIES: Accounts payable and accrued salaries Deposits and advances Total Liabilities FUND BALANCES: Reserved Unreserved: Designated Undesignated Total Fund Balances TOTAL LIABILITIES AND FUND BALANCES CITY OF SAN RAFAEL CAPITAL PROJECTS FUNDS COMBllUNG BALANCE SHEET JUNE 30, 1994 SUN VALLEY LOW AND CIVIC CENTER REDEVELOPMENT OPEN SPACE REDEVELOPMENT MODERATE NORTHGATE AGENCY PEACOCK GAP ASSESSMENT ADMINISTRATION HOUSING REFUNDING REFUNDING REFUNDING FUND FUND FUND FUND FUND TOTALS $ 9,401 $11,854 $4,616,783 $ 526,663 $ 47,838 $6,231,580 $12,299,998 75,566 1,980 114,413 191,959 302.691 _ ---"'__ _ _302.697 $ 2,401 $11,854 $4 692.349 S 831 340 S 47.838 $6.345993 $12.794 654 $ $ $ 6,444 $ 3,574 $ $ 38,068 $ 48,086 50.000 50.000 56.444 3.574 38.068 98.086 4,635,905 827,766 6,307,925 12,127,287 11,854 512,042 9.401 47.838 57.239 9,401 11 854 4.635,905 827,766 47 838 6 307,925 12.696.568 $ 2,401 $11 854 $4.622,349 S 831,349 S 47838 $6.345 993 $12,724.654 (Concluded) - 2 25 '--- CITY OF SAN RAFAEL CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE FISCAL YEAR ENDED JUNE 30,1994 REVENUES: Taxes and special assements Uses of money and property Intergovenunental Other Total Revenues EXPENDITURES: Current: General govenunent Other Capital outlay Interest and fiscal charges 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 FUND BALANCES AT END OF YEAR EAST PEACOCK GAP SPECIAL OPEN FRANCISCO ASSESSMENT ASSESSMENT SPACE ASSESSMENT PARKS DISTRICT BOND FUND FUND __ _ BOND FUND _ FUND JUND $ $ $ $ $ 5,016 286 6,180 163 613 180 163 613 5,016 286 6,360 7,778 37,500 37,500 7,778 126,113 5016 286 0 778) 6360 5,000 ()2,381l (50) ()2,381l (50)-5,000 113,732 241,959 5,016 345,817 (464) 6,689 (2,778) 6,360 139,548 $ 355 691 $ 350 833 $ 6,225 $ (2,778) $ 145,908 (Continued) - 1 26 "- REVENUES: Taxes and special assessments Uses of money and property Intergovernmental Other Total Revenues EXPENDITURES: Current: General Government Other Capital outlay Interest and fiscal charges 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 ADJUSTMENTS FUND BALANCES AT END OF YEAR ..; CITY OF SAN RAFAEL CAPITAL PROJECTS FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 SUN V ALLEY LOW AND CIVIC CENTER! REDEVELOPMENT PEACOCK OPEN SPACE REDEVELOPMENT MODERATE NORTH GATE AGENCY GAP ASSESSMENT ADMINISTRATION HOUSING REFUNDING REFUNDING REFUNJ)ING FUNJ) FUND FUND FUND FUND TOTALS $ $ $ $ 587,447 $ $ $ 587,447 625 254,348 43,036 2,422 232,592 544,505 116 116 14.249 396.189 116.12~_ ~9 116 625 268.597 1.026.672 _ ___ 2.422 349 390 1.823.097 134,588 765 135,353 776,110 219,530 391,613 1,395,031 5,957 43,457 480.667 A80.667 134,588 1,262,734 219 530 765 391.613 2,054.508 034.472) 625 (994 137> 807,142 1 657 (42223) (231411) 170,988 175,988 (27.115) (4.024> 0.381) 02 717) (3535) (61 903) 143,873 (4,024> (J 38)) 02 717) (3 535) 114 085 9,401 (3,399) (995,518) 807,142 (11,060) (45,758) (117,326) 15,253 5,636,392 21,724 58,898 6,353,683 12,819.963 (4.969) _____ (1.100) (6.069) S 9 491 $ I 1.854 $4.635 905 S 827.766 $ 47.838 56.307.925 S 12.696.568 (Concluded) - 2 27 ----' - - -ASSETS - - - Cash and investments Cash with fiscal agent L--.. Deferred assessments receivable Prepaid items TOTAL ASSETS - - -LIABILITmS AND FUND BALANCES - - - LIABILITIES: Accounts payable and accrued salaries Deferred revenue Total Liabilities FUND BALANCES: Reserved for debt service Unreserved: Designated Undesignated Total Fund Balances TOTAL LIABILITIES AND FUND BALANCES CITY OF SAN RAFAEL DEBT SERVICE FUNDS COMBINING BALANCE SHEET JUNE 30, 1994 KERNER EAST ~ --1 -- GENERAL ASSESSMENT FRANCISCO PEACOCK OBLIGATION REFUNDING BOULEVARD KERNER SUN VALLEY MARIPOSA REFUNDING $ FUND__ FUND FUND FUND FUND FUND FUND $260,022 $ 23,541 6.976 $ 651,047 607,449 720,369 $ 76,088 35,351 $ 70,363 1,191 $ 675,292 470,015 $ $260 022 $ 30 51? $1 978.865 $ III 439 $ 71.554 $ 1.145.307 $ $ $ $ $ $ $ 182 6.976 720.369 35.351 1.191 600.745 6.976 720.369 _ 35.351 1.191 600.927 23,541 544,380 260,022 1.258,496 76.088 70.363 260.Q22 23.541 1.258.496 _ 76.088 70.363 544.380 $ $260 022 $ 30 517 $1.978,865 $ 111 439 $ 71.554 $ 1.145.307 (Continued) - 1 28 '--- - - -ASSETS - - - Cash and investments Cash with fiscal agent Deferred assements receivable Prepaid items TOTAL ASSETS - - -LIABILITIES AND FUND BALANCES - - - LIABILITIES: Accounts payable and accrued salaries Deferred revenue Total Liabilities FUND BALANCES: Reserved for debt service Unreserved: Designated Undesignated Total Fund Balances TOTAL LIABILITIES AND FUND BALANCES CITY OF SAN RAFAEL DEBT SERVICE FUNDS COMBINING BALANCE SHEET JUNE 30, 1994 REDEVELOPMENT CIVIC CENTER! 1915 ACT AGENCY NORTHGATE BONDS REDEVELOPMENT REFUNDING FUND FUND AGENCY FUND FUND TOTALS $277,057 169,612 333,552 $ 64,350 14,690 $ 710,542 $ $ 2,097,760 542,553 2,030,156 1,582,144 548.711 548.711 $780.221 $79940 $710542 $ 1 091 264 $ 6.258771 $ 61 $ $ $ $ 243 333 552 14,690 I 712,874 333 613 14 690 I 713 117 446,608 64,350 1,091,264 2,170,143 1,518,518 710.542 856.993 446 608 64 350 710 542 1.091.264 4.545.654 $ 780221 $79.940 $ 710.542 $ 1.091,264 $ 6,258.771 (Concluded) - 2 29 REVENUES: Taxes and special assessments Uses of money and property Other Total Revenues EXPENDITURES: Current: General government Principal retirement Interest and fiscal charges Total Expenditures EXCESS (DEFICIENCy) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES): Bond proceeds Operating transfers -In Operating transfers -Out Residual equity transfer Payment of defeased debt 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 ADJUSTMENTS FUND BALANCES AT END OF YEAR ------ CITY OF SAN RAFAEL DEBT SERVICE FUNDS -----... ~ "----~--' COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR TIlE FISCAL YEAR ENDED JUNE 30, 1994 KERNER EAST GENERAL . ASSESSMENT FRANCISCO PEACOCK OBLIGATION REFUNDING BOULEVARD PEACOCK KERNER SUN VALLEY MARIPOSA REFUNDING FUND FUND FUND FUND FUND FUND FUND FUND $ 7,282 $ 12,799 $ 5,389 $ 208,350 37,583 353 $2,151,046 22,164 $ 34,664 2,701 $ 44,928 2,306 $ 350,975 46,205 7282 12,799 5389 246286 2 173,210 37,365 47234 $ 397,180 50,988 188,756 7,375 195,000 1,260,000 12,000 172.894 _469.750 ___ ... 25.899 _15.896 __ 128.846 188,756 7 375 367,894 1,729,750 37,899 66 884 128,846 081,474) 12,799 0 986> 021 608) 443.460 (534) 09,650) 268,334 (27,078) (58,750) 750 (71,644) (1,139,809) 58,750 4,024 20,660 (20,660) 2,405,000 138,781 (170,988) 1,139,809 (3.236.556> (27078) (58750) 750 (1,211 453) 58750 4024 276046 (208,552) (45,951) (1,236) (1,333,061) 208,552 305,973 24,777 1,333,061 502,210 738,726 17.560 3,490 72,598 (19,650) 544,380 90,013 $ $ 260.922 $ 23 541 $ $1,258496 $ 76,m:8 $ 70.363 $ 544.380 (Continued) - 1 30 --' CITY OF SAN RAFAEL DEBT SERYICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 REVENUES : Taxes and special assessments Uses of money and property Other Total Revenues EXPENDITURES: Current: General government Principal retirement Interest and fiscal charges Total Expenditures EXCESS (DEFICIENCy) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES): Bond proceeds Operating transfers -In Operating transfers -Out Residual equity transfer Payment of defeased debt 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 REDEVELOPMENT CIVIC CENTER! 1915 ACT AGENCY NORTHGATE BONDS REDEVELOPMENT REFUNDING FUND FUND AGENCY FUND FUND TOTALS $ 381,524 17,121 $ 27,313 $595,525 22,668 $1,417,641 57,922 $ 5,224,637 221,469 353 398.645 27,313 618,193 1 475,563 5446.459 50,988 95,000 14,000 535,000 340,000 2,647,131 250887 4,740 106397 1,081,176 2256485 345.887 18,740 641 397 1,421,176 4,954 604 52 .758 8573 (23,204) 54387 491,855 52,758 8,573 1,381 (14,964) 3,535 2,405,000 227,881 (364,084) (3.236.556) (13.583) 3.535 _(961.159) (36,787) 57,922 (475,904) 386 ,221 55,777 747,329 1,101,998 5,065,025 7.629 (68.656) (43 467> $ 446,608 $ 64,350 $ 710.542 $ 1 091 264 $ 4 545.654 (Concluded) - 2 31 ---- ---ASSETS--- Cash and investments TOTAL ASSETS - - -LIABILITIES AND FUND BALANCES - - - LIABILITIES: Accounts payable and accrued salaries Deferred compensation liability Total Liabilities FUND BALANCES: Reserved Total Fund Balances TOTAL LIABILITIES AND FUND BALANCES '----'- CITY OF SAN RAFAEL TRUST AND AGENCY FUNDS COMB~GBALANCESHEET JUNE 3D, 1994 EXPENDABLE TRUST FUNDS AGENCY FUND MISCELLANEOUS BUSINESS LIBRARY DAVIDSON DEFERRED FIDUCIARY IMPROVEMENT FIDUCIARY REQUEST COMPENSATION FUND FUND FUND FUND TOTALS $5 142 003 $ 29203 $ 13474 $ 10,653 $449,388 $5644721 $5,142,003 $ 29203 $ 13,474 $ 10,653 $449388 $5,644,721 $ $ $ 2,000 $ $ $ 2,000 5 142 003 5 142,003 5,142 003 2000 5 144 003 29,203 11.474 1O,65L __ __ 449,388 _ 500 718 29,203 11.474 10,653_mn ______ 449,388__ 500 718 $5,142,003 $ 29203 $ 13,474 $ 10,653 $449,388 $5644 721 32 - '------' '---"~ CITY OF SAN RAFAEL ExPENDABLE TRUST FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE FISCAL YEAR ENDED JUNE 30, 1994 REVENUES: Uses of money and property Other Total Revenues EXPENDITURES: Current: General government Other Total Expenditures EXCESS (DEFICIENCy) OF REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING SOURCES (USES): 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 BUSINESS LmRARY DAVIDSON FIDUCIARY IMPROVEMENT FIDUCIARY REQUEST FUND FUND FUND FUND TOTALS $ 247 $ $ 452 $ 27,540 $ 28,239 23.764_ 23.764 247 23764 452 27,540 52003 205,536 205,536 51' 42.199_ 600 _ 42.850 5~_ 42.199_ 600 205.536 248.386 196 08.435) (148) 077 996) 096.383) (129 000) (129 000) 029.000) (129.000) 196 (18,435) (148) (306,996) (325,383) 29007 29,909 to,801 756,384 826.101 $ 29.203 $11 474 $ to 653 $ 449,388 $ 500 718 33 I I ] CITY OF SAN RAFAEL AGENCY FUND 34