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HomeMy WebLinkAboutFiscal Year 1992-93 Financial Statement' CITY OF NEWPORT BEACH C A L.1 F O R N I A C'.OMPREHENSIVE ANNUAL. F 11-7 t �. R�,T . t i .. N�. 1 i I 1 I I 1 I 1, I 1 9--, YEAR ENDED JUNE ��'30, 1993 9--, THOS COPY BELONGS TO DENNIS DANNER flip :010 TO sox u EEO 121 IRA NO I I t t I I I I I I "ON Lf� Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 1993 Prepared by the Finance Department Dennis C. Danner, Director I I I i fj I INTRODUCTORY SECTION I I ii ,- llll UIILL YNUI1GG.l JAµ4b'GL UIaLL AGlU0.l ' Combined Statement of Revenues, Expenses and Changes m Retained Eamir gs - All Proprietary Fund Types . . .. 12 Combined Statement of Cash Flows - Proprietary;;Fwnd Types , ....... .. .,,All Notes to Financial Statements _.::. .,, ...... <.17 Supplei4eutary Information General =Fund: Comparattve Balance Sheets ....... ......,. ...;. ,..... .... ....... ......41 Statement of Revenues, Expenditures and Changes in— Fund Balance Budget and Actual :.:..<.: ..... .. ..............42 Special Revenue Funds, Combining Balance Sheet Combining Statement of Revenues, Expenditures and Changes in 44 FundBalances .................................................. ............................... 48 Statement of Revenues, Expenditures and Changes in Fund Balance - I Budget and Actual: • Park and Recreation Fund ................................... .............................52 . Library Fund ............................................. ............................... .. 53 • State Gas Tax Fund .......................................... .............................54 ii I TABLE OF CONTENTS (Continued) # • Arterial Highway Financing Fund .......................... .............................55 • Traffic Safety Fund .. . ...... — ...... ..................................................... 56 • Parking Meter Fund ....................................................................... Tide Submerged Land Fund 57 58 • and ..... ............................................. • Contributions Fund� ...... ....... :.. .............................59 • Building, Excisq.Tli Fund ......................... . ........................ 60 • Comb"ifte&.37Mnsportation ......................... ............................ 61 • Community bevelopment'Block Grant Fund .............. .... ... ....... 62 Capital, Projects Funds: Corribiftitig Balance Sheet ........ ........... — ....................... .......... .... .. ...... Combining Statement of Revenues. Expenditures and Changes in FundBalances ........ ......................................................... venues,,:Experi ituic§'aud, Changes in Fund Balance Statement, of Re di 66 Budget and Actual: .......... ............ ............ Assessment District Fund ... .......... • Central library Construction Fund ...... .......... .............. ......... TAY, Enterprise Funds' Combing Balance ShP' et ........ .. I . ..... tombinng:StitzftenU Revenues, Expenses and Changes in . . 72 ;. of , Retained ........... g9 .. ........... .................. tombinhW'Stkie heri of Cash Flows "Funds 7,. 3AVII . cy �; Combining lace Sheet .............. ...... .. Combining S!i !!of Changes "in Assets and 'Liabilities ,.*�... .................. General Fix'A Asset Account ::Group: General -Izz d6i6aiativ -§chedule''of,debl; 11.1 11 't.;,.b � 8 ' , 6 .... ........ 'Asse g Y ourp . General Long Term Debt Account Group; -,Comparative Schedule of General Long 7Teiin Debt ........................... 1 �—�,85 STATISTICAL:; SECTIO (Not Covered by uditors�Re -y .A port).. Miscellaneous Statistics ............ ................. .......... ........... ..............87 Governmental .Revenues; by Source, Last Ten Fiscal Years ......... .............88 Governmental Expenditures by Function, Last Ten riscalYears .................88 Assessed and Estimated Actual .Values of Taxable Property, Last Ten :fiscal Years ..........90 ............................. Secured Property Tax Levies; I I I I D_ CITY OF NEWPORT BEACH November 22, 1993 Honorable Mayor City Council .. City of NewportB Newport Beack- - - 11 The 199 of apd-;the P.O. BOX 1768, NEWPORT BEACH, CA 92658-8915 for the year its the 30, El Thqi:'Oty of Newport-;Beach is"required, to undergo ai annual suig e ; ' 1. 1 audit in c6iq&- in ity �. 1 Iviih the provisions of the Single Audit. q of 97 and U.S. Office of MA e- men6aiid Budget Circular .A-12'8'-_Au Its-. olvern,ments. Infor",mi'' __ofStateandIocaf�' _._ation related 4' this single audit; inct di in j the Schedule of+ddefal Financial Assistance, findings and recommendations, and independent auditors' reports on tht4riternal control structure and complia� e-vvith applicable .laws **and regulations, iiaie,,provided under sepii ti cover.,:,. The City provides lafull rani6w;gervices including police and fire !p otection, marine services, highways aW`gtreets capital facility imirovementi' Oaiining and zoning, - utilities, sanitation recreational activities, cultural events :i - and general administrative n-40dition-z togeneral` ­ I government activities, the City Council exercises, or has the - . exercise, oversight of the Newport Beach Public Facilities Corporation, which was formed to facilitate financing of the Cannery Village parking facility and the new City Central Library Construction project. The activities of these component units are therefore included as part of the basic report- ing entity. The following entities are not covered because they do not meet the established criteria for inclusion in this City's report: State of California, County of Orange, Public Employees Retirement System and Newport-Mesa Unified School Dis- trict. ift ECONOMIC CONDITION AND OUTLOOK I The City of Newport Beach was incorporated in 1906 and operates under a freeholder's charter providing for a Council- Manager form of government. The seven City Council members are nominated by district and elected at large for four year terms at elec- tions held in even numbered years. The City is located in Orange County, on the shores of the Pacific Ocean, approximately 15 miles south of the City of Long Beach and 75 miles north of San Diego. IE shares - borders with the Cities of Costa Mesa, Huntington Beach, Irvine and Laguna Beach as well as unincorporated County terri- tory. Although there are short -term fluctuations in all City revenues, including taxes, the City's long -term •tax base is broad and diverse. The primary revenue sources include property taxes and sales taxes. There are a number of major hotels located within the City which produce a transient occupancy tax. Current `cash reserves also afford in- vestment opportunities that produce substantial interest earnings for the City's vari- ous funds. In addition, the City owns: various properties which generate substantial revenues. Cornmercial and residential development within the City continue to generate mod =; estlygrowing new revenues: IL also results in additional cost to the City as it eontin ues to provide the highest quality services to its residents and commercial establish 1. ments. Property values in Newport'Beach continue to increase, albeit; modestly, thus maintaimng;the City's substantial property tax base. :Because of the City's outstand : . mg teaches and harbor, Newport Beach attracts as many as 100,000 tourists a day This:tourist populahori helpsao maintain the City's strong economic base,.but it also regdires additional expenditures for:routine public services. .- Despite this favorable long term outlook, the current economic climate remains weak Tn .;�liifinn roron +. hi�i rtn +- irhinnc har +lau C +n +o rai C -n lfn..n.n hnvo h'hA ....' ..aarerce. corresponding adjustments to' appropriations have been necessary. 'In addition,'sig= nifica n it :non - reoccurring expenditures have takeplace or are projected. Monetary settlements arising from litigation, an unfavorable combination of decisions concern- ing aerospace industry sales tax rebates, and: implementation 'of the Americans with Disabilities Act have; or,will represent cash drains to. the: City of some significance. Although the City's overall financial condition is quite strong; a prompt; aggressive response to these developments has been necessary to insure continuation of that healthy condition Accordingly, policy, changes which will affect both `expenditures and revenue sources have been instituted, and more such actions are likely. MAJOR INITIATIVES At the beginning of the 1991 -92 fiscal year, initial revenue projections reflected an overall increase of 6.6% (excluding one time proceeds from the sale of Certificates of Participation for the Library Construction project). This projection represented a growth rate significantly below historic City averages. However, as the year progressed, the magnitude of the economic slowdown became more apparent, and revenue pro- jections were revised downward even further. In order to maintain service levels in iv I I I I I the short run, it was necessary to draw down reserves by approximately $5 million during fiscal year 1992 -93. In addition, management actions were initiated to begin an immediate reduction of expenditures, and to plan a longer term program designed to deal with the imbalance between revenues and expenditures. For the year. During the 1992 -93 fiscal year, further actions were taken to reduce expenditures and expand selected existing revenues, as well as identifying new rev- enue sources. Special operating budget reductions.ranging between 5% and 10% were identified by each Department and subsequently 'impl"emented. Further, the work force was reduced;:by 47 force through attrition, early retirement, and layoffs. (The early retirements and layoffs occurred at fiscal year end) In addition to expen- diture reductions, =ii was also..decided, to partially offset. the permanent loss in the revenue structure resulting from State cuts by programming revenue,;, increases in selected.afeas under the City's control: These include'business,license tax, parking meter fancy tax; and n City in effe less aaeres"s"Wie than alu V1LLCJ Vl 0.}J11V111y 11Q1U1C WJ'A �11 dlLAdl llldLLCl,1<ll KCl ld]J1Ld11ll1Fi1 VVC111C111 �Jj V)ClW generally encompass moreahan one fiscal year from design to construction, sa these get ons did' -not hamper their completion. Street, highway; and other-trarisportation related projects continued to be the functional area receiving the greatest emphasis: In addition, the City began implementation of a Paramedic Subscription program, which wasYdestgned to provide arl:mproved level of servtce to the community that is self supporting A. numbei of projects begun in prior years were ;still underway to fiscal year 199Q 93', most notably,;eonstruction of the new. Central Iabrary;,. For the Future A imenuoned above; the economic slgwdown and 'resulting revenue shortfalls for the City have resultedtn delay and mothficattdn'ofsnme of the.unprave- . mentsand programs originally;scheduled.'.However, the City's planned capital provement;program extends for several years into the future In addition;;budgets for actual capital projects cover three fiscal years, with_ 6 knowledge that many of diem are: riot completedin the first year: ip Continued emphasis wili.be placed on correcting or improving water, se storm dram; aiid street lighting systems within the City... Special objectives for thOitar -term include continued work on replacement of the Lido Park bulkhead; repair ofthe Balboa Island bulkhead, extensive sidewalk, curb; and''gutter repatrfre place' ment, replace- ment of streetlights, par-k,And athletic field improvements, and various other street and highway repair projects Majdr water well and pipeline Construction work, in addition to replacement of mains and other water and wastewater improvements, will also be moving forward The City is establishing a ground Ater delivery system as an alternative to sole reliance; 6 ernal;(Metropolitan Water District) water resources. Work will also continue on the final portion of initial implementation of the Geo- graphical Information System, with emphasis on completing the computerized City base map and upon further development of the Building Department "Permits" track - ing system. Development of the relational database and its design configuration will continue during the next fiscal year. The City's primary micro - computer network is also completing a much needed renovation. The City will also continue to maintain its high level of safety programs through the Police, Fire, and Marine Departments. v I The City's social programs will be coordinated by the new Community Services De- t partment which is formed by combining the functions of the Library and Parks, Beaches, and Recreation Departments. During 1993 -94, the City will complete the full integra- tion of its automated financial management system for the first time. The full range of financial management functions, to include purchasing, payroll, cashiering, ac- counts payable, accounts receivable, budgeting, and a variety of related functions are consolidated in the system. FINANCIAL CONTROLS AND PROCEDURES Internal Control Structure. The City of Newport Beach has initiated a comprehensive program to reduce vulnerability to fraud, waste, or abuse through an improved inter- nal control structure. The internal control structure is designed to provide reason- able, but not absolute, assurance that the City's assets are protected form theft, loss, or misuse; and to insure that adequate accounting data are:available for preparation of financial statements in conformity: ith w generally accepted accounting principles. To that end, Purchasing, Accounts Payable, and Property Control Procedures have been rewritten and are being reviewed for changes prior to implementation. Anew Internal Review Technician position has been filled. ' The Travel Policy and related, procedures have been rewritten I and adopted, as has the City's Investmenf:Policy Warehousing, Stock lssuance,and Property Disposal Procedures have been rewritten, and Standard Operating Procedures for the Accounting and Purchasing Divisions are W4 substantially revised and updated. Through .this effort; the City's complete "Acquisition Cycle,'' from identification., of need through purchase action: issuance, and eventual "disvosal; continues to be exam ,1: inea,., moaitiea, ants restructures. - Aitnougn tne, worx s oeing, crone oy 1-ity, stair, it is being reviewed by outside auditors. Implementation of changes will continue through the:1:993 794 fiscal, year. Sing1e Audit. Asa recipient of federal, state and county financial assistance, the City t is required to undergo, an annual audit in conformity with the,provisions of the Slagle Audif Act of 1984 and the U.S. Office of Management and ° °Budget Circular A -128, Audits of State and Local Governments. As part of the City's single audit, tests are made to d6wrmine the adequacy of the internal control structure, including that por- tion related to federal financial assistance programs; as well as to determine that the City has compiled with applicable laws and regulations.. The results of the City's single audit for the fiscal year ended June 30 1993, provided no instances of material weaknesses in the .internal control structure or significant vioIatioris of applicable laws and regulations. `The information related to the single audit;, including the Schedule of Federal Financial Assistance, findings and recommendations; and independent au- ditors' reports on the intern al coritrolstructure and compliance with applicable laws and regulations are included in a separate report. Budgeting Controls and Changes. The City of Newport Beach maintains budget con- trols. The objective of these controls is to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the City Council. Budget control is maintained at the fund level, or project level in the governmental fund types. The City maintains an encumbrance accounting system as one method of ac- complishing budgetary control. Where encumbrances indicate an overdraft of the vi I Specifically, the large decrease in Intergovernmental Revenue can be attributed to the loss of property tax revenues received from the County of Orange due to actions by the State of California in adopting its own budget for the 1992 -93 fiscal year. Like- wise, the large decrease in Fines & Forfeitures Revenue can be attributed to State budget actions in reducing the amount of Vehicle Code fines remitted to the City. vii Percentage Change In Revenue 0 Miscellaneous 7% - 12% 3% vial I I I .1 I I I I I Fil 11 I I a I I a Expenditures. The following schedule (expressed in thousands) presents a summary of General Fund, Special Revenue Fund and Capital Projects Fund expenditures for the fiscal year ended June 30, 1993 and the dollar value of the Increase or decrease dur- ing the past two years. Fiscal Year 1992-93 Expenditures Change Cumulative Expenditures (000) Total x:9192 Current: General Government ;14,360'` 590% '"$1,918: Publk'"ry $3.17210 42.2496 $309 Publit Works _$12,779 17.30961 Development: z $3,636 4.92%- .1---,r:. $2, 24 .0j,rimpnity -C turd. and Reckei-ti6A.: $8,521 11.53% ($84) Capital,Expenditures $12'220 16.5496 ji�i 3814) Total Expenditures -.... 8 1 100.00% ($733); 1991. give a L- While .. ... .. ... ... $6,000 $4,000 1:$_2,000 ($2,000) ($4,000) ($6,000) dina went tdown, svendirij! on Public Change Since FY 1990-91 ($2,672) 44,385 ($4,468) U U IX 0 I- I 2. It would appear that most of the decline in total spending happened in 1991 -92 as opposed to 1992 -93. However, significant one -time expenditures resolving li- ability issues which took place in 1992 -93 cause distortion in those figures. 1991- 92 was relatively "light" in liability expenditures. 3. Certain expenditures which had been classified as General Government in 1991- 92 were reclassified as Community Development thereafter. Similarly, expenses from narcotic seizure funds had previously been classified as General Government, but they have since been reclassified as Public Safety. Therefore, the magnitude of the relative changes in All three of these functional expenditure categories is some- what less than it would appear from the raw numbers above. Fiscal Year 1992 -93 Expenditures by Function 6% 41% General Government,,:,. M e decrease in General million to the A factors] There was a one Service Fund ti M Capital Expenditures. Debt Service 17% fund balance of the ended June 30 1993 as required by City his "reduction_ program, as well as ity I I I I I I I I I I t of some j i interim, .o sustain l: by $7.5 s balance primary nilhon to the Insurance Inter - City's internal service fund payment of a long term liabil- 2. Both revenues and expenditures were conservatively forecasted, and the City's budget was in balance at the outset of the year. Despite that fact, overall expendi- tures actually ended the year below budget, while revenue shortfalls proved to be more wide ranging and severe than anticipated. x I I I I I I I I 3. Unanticipated litigation expenses for liability claims, and workers' compensa- tion claims exceeded budget projections by $2.0 million. This decline in fund balance within the General Fund is not expected to continue for the fiscal year ending June 30, 1994, because of the steps taken by the City to bring revenues and expenditures into balance, as discussed in detail earlier in this transmit- tal letter. The iriaj< • The Was ' Enterprise ( Water, Wast Enterprise F • The Watt non .opei Retiresne The iriaj< • The Was ' eluded n .,,venue of,' fished up a% sThe;Mar. I I I I I I 30, BWWcd Benefit Retrepent Syst vor benefits foi reflects a; net in mined 'dr tribu cent in fist l; :ye for Misceli -, 1992 to 6.4fi5- :til 'eriterpru 10 e of Total -opE l year;w; -a ePark 'ended`] $17,323,: sion Plari (PERS) to 1 tune Cif se in the_I rate fo"r5 992: to 1: at June 30, 1993: malysis of the City year 1992 -93: 19",u h ch included of:$735,753, bgtng.retained for future :water source; 8 which in- Public ] , death a alit' deter - 2'699 per - rution rate fiscal year Deferred Compensation (Retirement) Plan for Part- Time.Empltyees. In addition to the PERS retirement plan for full Lime City employees, the City contracts with the Public Agency Retirement' System .(PAIt5) ; to provide federally mandated retirement benefits for part-time employees. Each part -time employee contributes 3.75 percent of salary, with the City contributing a matching 3.75 percent to this retirement sys- tem. The City's contributions for each employee (and interest earned by the accounts) are fully vested immediately. Deferred Compensation Plan for Full -Time Employees: In addition to the Deferred Compensation Plan for part-time employees, the City offers a Deferred Compensation xi I which sponsors extensive training and emphasizes high standards in all aspects of municipal finance operations, including financial reporting. As a result of last year's Report, the City of Newport Beach is fortunate to have remained among the ranks of California Cities which have met the rigorous standards of financial reporting re- quired of recipients of the CSMFO Outstanding Financial Reporting Award. We will be submitting the report to CSMFO for consideration again this year as well. DIVIDER PAGES The back cover and divider page illustrations contained in this report. are comprised of segments of various maps and geographical: charts of Newport Beach:, and the sur- rounding area; as well as other beach related scenes. - ■ ACKNOWLEDGMENTS Preparation of this report could not have been accomplished without the efficient and dedicated services of a number of personnel: It would be impossible to name them all, however particular effort by the City's Deputy Finance Director and Accounting Man =:. ager; Dick Kurth and_Dan Matusiewicz respectively, should be recognized. We would ; like to thank the Mayor and members of the City Council for their interest and sup port in planning and conducting the financial operations of the City in a responsible ,. and..progres"sive manner- We. would' also like to thank Paul Malkamus of the Utilities - Department for his help in preparing :the graphics for the report. Lastly, we would like to thank:.our auditors, KPMG Peat Marwick, for their time and assistance in the '! preparation of this report.. .: Kevin J. Mixrphy Dennis C Danner r City Manager Finance Director xiv Certificate of Achievement for t- .Excellenu Reportin Pregented to 1 -M ian dal Report; for 'th Fiscal Year Erided 'F .. e: ii is ..:A C! edifica'te of A xv I I I Xvi 1 11 I 1 I NEWPORT BEACH CITY OFFICIALS City Council I [1 John C. Cox, Jr. Phil Sansone John W. Hedges Council Member Council Member Council Member Principal Administrative Officers I - Kevin J. Murphy MM Clarence J. Turner City Manager Robert H. Burnham City Attorney Mayor Kenneth J. Delino t> Deputy City Manager ............................... Building Director ;x Dennis C. Danner .............................................................................. ............................... Finance Director TimRiley ...................................................................................................... David E. Niederhaus .................................... ............................... ............................... Fire Chief ........................General Services Director Evelyn Hart Jean Watt Jan Debay ............................... Library Director Council Member Mayor Pro Tem Council Member : ..... .. ............... ..:........ ...... ......................... Marine Department Director Ronald A. Whitley ....................................... ............................... Parks, Beaches, and Recreation Director [1 John C. Cox, Jr. Phil Sansone John W. Hedges Council Member Council Member Council Member Principal Administrative Officers I - Kevin J. Murphy MM Wanda Raggio City Clerk City Manager Robert H. Burnham City Attorney Kenneth J. Delino Raimar Schuller ................................................................................ Deputy City Manager ............................... Building Director Dennis C. Danner .............................................................................. ............................... Finance Director TimRiley ...................................................................................................... David E. Niederhaus .................................... ............................... ............................... Fire Chief ........................General Services Director LaDonna Kienitz ................................................................................ ............................... Library Director David Harshbarger . ............... ........ : ..... .. ............... ..:........ ...... ......................... Marine Department Director Ronald A. Whitley ....................................... ............................... Parks, Beaches, and Recreation Director Duane K. Munson ........................................................................... ............................... Personnel Director James D. Hewicker .......................................................................... ............................... Planning Director BobMcDonell .......................................................................................... Benjamin B. Nolan ................................................................... ............................... ............................... Police Chief Public Works Director Jeff Staneart .............................................................................. ............................... ..... Utilities Director Xvii i—EBUDDING CODE BOARD OF APPEALS ` LIBRARY BOARD CCML SERVICE BOARD II I II I II I I I PERSONNEL WermMa AdmwwaaMM Rlakp.uggmm II 1�6a Rd.00w II II LIBRARY C-1 y > IL_ � I I i BUILDING L_ PofM( MARINE oam uFeguvd. B.IPad*s t B.ein J :It III ELECTORATE III DEPUTY ro 6717 ATPORNEY CITY MANAGRR W«CI Waertwatc BmMlal TdecommMMk.dom G.L9.Prajec. OJ bl Gae I GENERAL SERVICES I Ae�.nman Buid»g Pqudpmn" Ttu�c Sim. & Mulunp PJuee�Bayclv�g PUBLIC WORKS y�per TialGhau FIRE AA.t.d Prcpv icy Medial Scrvico FGaubu. A1.�.4 COUNCIL APPOINTED BOARDS & COMMISSIONS IIVlll COUNCIL APPOINTED P.BAR. COMMISSION JARTS COMMISSION I PLANNING COMMISSION T - _.- ' I , I I I PLANNING I C':Ah..Maero :m Advuuz Planning , Cade FNoraman I I I PARKS, BEACHES & , RECREATION J Pule 8 Pukm.p Rene . S . Prog.us F FINANCE I o-M * Revenue DauP P�mca g POLICE Ad." . PAMaI Tr.81c Dehauve Pahug/AMinul GonMd DEPARTMENTS i I 1 1 I i a 11 H I I I J I I I 1 I I I I I rl I I I I I I A-MiGi Peat Marwick Certified Public Accountants Orange County Office Center Tower 650 Tom Center Drive Costa Mew. CA 92626 The City We j we dene . I i I i . dent.,Audito'rg' :ReDo was made J taken as a auditing I opinion, i: taken as a November 2, 1993 its ig- the'Ani.duhts and disclosures ii icludes ,aswssmg the accounting it, as well as Qval4tihg the overall 4 a reas6n&e basisfor ojruu listed in the ; nd are not a 1 6 In rat purpose rfulapejai ,idual accou - n V+ .. . oup -nts are re,, q, for -al nancial been C to the tat d, in our statements I I i 1 11 i- 1 1. i 1 1 1 1 1 1 C" "arty nap published by the Sport Fishing Association of Newport Harbor c. 1946 I I 1 I 1° I .1 ga . I as 1 ° 1 i 1 i 1`T Yb 4 4u F.AyR :ems , 4P w. Y � • rY • q' tY. }•tiy A' .4v � vi a^ 1 I 1° I .1 ga . as 1 ° 1 i 1 i I I I I I rl F I This page teR blank intentionally. I CITY OF NEWPORT BEACH ' Combined Balance Sheet - All Fund Types and Account Groups June 30, 1993 Total Fund Equity and Other Credits Total Liabilities, Fund Equity and Other Credits 8,070,746 15,248,354 855,270 5,002,773 $ 13,264,639 $ 19,068,050 $ 855,270 $ 6,894,474 See Accompanying Notes to Financial Statements. 4 , Governmental Fund Types , Special Debt Capital Assets and Other Debits General Revenue Service Projects Cash and Investments (Note 2) $ . 7,8911530 $ 15,7011350 $ 3,801,164 Accounts receivable and accrued revenues 2,734,179 447,016' Lease Receivable 1,042,167 , Due from other governments 1,292,351 Due from other funds'(Note 11) 1,796,842 582,162 Deposits withothecagencies - 428500 , Inventories of materials and supplies, at cost 365,185 Restricted assets- cash and investments (Note2) Other assets 48,433 $ 3,004 855,270 13,993.310 Fixed assets,(Notes 3 and 20) Amount available in debt service fund Amount to be provided for payment ' of general longterm debt... Total Assets and OtEier'Debits $ 13,264,639 $ 19,068,050 $ 855,2701 $ 6.894,'4741 , Liabilities Fund; Equity and Other Credits Liabilities::, Aecountspayable and accrued liabilities .$..;1.1,098.635 $ 869,673, $ ' 693.6691;:- 1�Aqcruecl payroll 2,593,140 214,093: Due to other funds (Note 11) 147,372 I 198 032: Deferred revenue 2,428,522 , 156e, to bondholders (Note 5) ... Due tb others 46,749 Deposits 1,455,369" 166,036' , Deferied;compensation (Note 7) Long -term debt (Notes 4 and 20) Totalliabilities 5 193,893 .. 21,019,696 ,,1.1891,701 Fund Equity and Other Credits: Contributed capital (Note 12) , Investment in general fixed assets Retained earnings Unreserved Fund balances (Note 13): Reserved Unreserved, designated 1,946,131 6,124,615 483;849 $ 14,734,228 855,270 56,494 4,946,279 , Unreserved, undesignated 20,277 Total Fund Equity and Other Credits Total Liabilities, Fund Equity and Other Credits 8,070,746 15,248,354 855,270 5,002,773 $ 13,264,639 $ 19,068,050 $ 855,270 $ 6,894,474 See Accompanying Notes to Financial Statements. 4 , L� 5 Proprietary Fiduciary Fund Types Fund Type Account Groups General General Total Internal Fixed Long -Term (Memorandum Only) Enterprise Service Agency Asets Debt 1993 $ 13,589,111 $ 5,944 425 .: $. 17,737 928 - $ 64,665,508 ' 2,699,502 5,880,697 1,042,167 1,292,351 2,378,974 ' 428,500 68 633 439818 95..137: 4043 917 2 990 KIM, 25,271 -D83 $79,048,944 107,320,(127 ;:. $ 855 270 855,270 ' 10,969,970 .. ,10,959,970 $ 44726,356 $;i 5944425 $ 171737,928 ,$79,048,944 $ 11,825240 $ 199365,326 '4. 8d3,4;20 ; $ 1.950 000 $ 5 495;397 103,121 n : "' ::::, 2;910,354 1,033570 2378,974 7 2 426 529 .. $ 2&8286 268.286 704,247 750;996 120 107 1,739 ,51,2 16,76 395 16,765,395_„ 14,150,278 " $ 11 825,240 25,975 16,100,278'' 17,737,928 2,140,225 11,$25,240 58708,961 13,651039 i 13,651,039 $ 79 048,944 79,048,944 j28,935,092 (10155 853) 18,779,239 L� 5 CITY OF NEWPORT BEACH Combined Statement of Revenues, Expenditures and Changes in Fund Balances All Governmental Fund Types For the Year Ended June 30, 1993 Governmental Type Funds Other Financing Sources (Uses) Operating transfers to "" 7;257,363' Special Debt (4,269,953) ' General Revenue Service Revenues: Proceeds from sale of fized'assets_,, 92,684 Taxes $ 32,836,366 $ 6A36 409 Excess of Revenues and Licenses, fees and permits _ 831,197 964,041 Intergovernmental revenue 4,0133,218.. 3,406,578 949,435 (412,332) Charges for services 3,526,268 -; . - 1,176,932 Fund Balances, June 30 Fines, forfeitures and penalties 75,188. 2,507,781 Revenue from'use of money and property 3,296,411 " 6,082,074 .: $ 29,407: . Contributions 211,242 236,091`' Other ;; 267,076 57,187 Total Revenues 45,076,966 20,066,093 29;407 Expendtures Currerit General government 4,359,857 r Public safety 30,706,655 :' : 502,934 Public works ' ' 12,779,215 . Community development ` 2996,534 63,9,558 Libranes . 3,525,782 PaFks, beaches and rsreation . 4,994!;976 Capital expenditures 4,505,458 3,213,737 Debt Service Principal; retirement (Note 4) :. 379,521 72,706 Irderestaridfscalcharges 65,547,. ! 795;894 441,739 Total,Expenditures 55;792,767 13145587 441,739 Ezcess of Revenues Over (Under), Expenditures (10,715,821) 6,920,506 (412,332) Other Financing Sources (Uses) Operating transfers to "" 7;257,363' 769,952 Operating transfers out (4,269,953) (6,741,023) Proceeds from long -term debt (Note 4) `. 91,983 Proceeds from sale of fized'assets_,, 92,684 Total Other Financing Sources (Uses)• 3f72,077 (5;971,071) Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses (7,543,744) 949,435 (412,332) Fund Balances, July 1, 15,614,490 14,298,919 1,267,602 Fund Balances, June 30 $ 8,070,746 $ 15,248,354 $ 855,270 See Accompanying Notes to Financial Statements. G 11 L J'� I 1 I I 11 I I I LJ I 11 I Capital Projects r-i I I I 181,847 708,441 61'I'da 111,497 WIPOO r-i I I I I Total 452,227 703,180 61 1.010.9761 (10,084,719) 39,261,862 $ 29,177,143 7 708,441 708,441 (3,078,078) 8,080,851 $ 5,002,773 I Total 452,227 703,180 61 1.010.9761 (10,084,719) 39,261,862 $ 29,177,143 7 ' CITY OF NEWPORT BEACH Combined Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual , All Governmental Fund Types For the Year Ended June 30, 1993 General Fund Variance Budget Actual (Unfavorable) Revenues: Taxes $ 35,020,623 $ :32;836,366 $ (2,184,257) Licenses, fees and permits 903,800 1831,197 (72,603) , Intergovernmental revenuer: - 3,038,500 , " 4,033,218 :r 994,718 Charges for services 3,830,900 3,526 268 (304,632) Fines, forfeitures: and penalties .75 188 75,188 ' Revenue from use' of money and property 3,807,500 3,296,411. (57.1,,089) Contributions 750,000 211,242 (538,758) Other 312,000 267,076 (44,924) Total Revenues 47,663,323 45,076,966 (2,586,357) Expenditures: , Current General government. 4,559,130 4,359,857 199 273 Public Safety 29,708,886 30,706,655 (997,769)" Pubhcworks..: 12,561,254. 12,779,215 (217,961), Community development 2,875,818 2,996,534 (1 20 716) Libranes Parks ,beaches and recreation Capital expenditures Debt Service 9,259,221 4,505,458 4,753 763 , Principal Retirement (Note 4) _ 379,521 .:; 379,521 Interest and fiscal charges 65,547 65,547 Total Expenditures 59,409,377 55,792,787 3,616,590 Excess of Revenues Over (Under) (11,746,054) (10,715,821) 1,030,233 , Other Financing Sources (Uses): Operating transfers in 7,299,932 7,257 363 (42,569) Operating transfers out, (4;269,953) ;: (4,269 953) '- ' Proceeds from long term debt (Note 4) 91,983 91,983 Proceeds from sale of fixed assets 143,000 = 92,684 (50,316) it ;it Total Other Financing Sources (Uses) 3,172 979; 3,172,077 (902) Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses (8,573,075) (7,543,744) 1,029,331 Fund Balances, July 1, 15,614,490 15,614,490 Fund Balances, June 30 $ 7,041,415 $ 8,070,746 $ 1,029,331 ' See Accompanying Notes to Financial Statements. 8 , r I I I I I 11 I I I I I I I I I I I I Special Revenue Funds Debt Service Fund Variance Variance Budget Actual (Unfavorable) Budget Actual (Unfavorable) 5,664,445 1,343,150 3,807,500 1,170,125 2,885,000, 5,827,750 1.746MO $ 5 19 '55a.:: ;(115;066] 2,460,624 '(41 970' 4�976 ;(345,033' 044,077 -;L��:441 73 4,7.22-;045 7,1182,669 2,460,624 ..(412,332) -407 8431456 i:- 769119,52 (73,504)[ (6,741,023) (5,697,567) (5,971,071)'-..- (73 04 (1,175,522) 1,211,598 2,387,120 (441,739) (412,332) 29,407 14,298.919 13,623.888 (675,031) 1,267,602 1,267,602 13,123,397 14,835,486 $ 1,712.089 825,863 855,270 $ 29,407 (Continued) , CITY OF NEWPORT BEACH Combined Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual ' All Governmental Fund Types (Continued) For the Year Ended June 30, 1993 , Capital Projects Funds Variance Budget Actual (Unfavorable) , Revenues: Taxes Licenses, fees and permits , Intergovernmental revenue $ 181,847 $ 181,847 Charges for services ` Fines, forfeitures and penalties , Revenue from use of money and property . 61,168 61,168 Contributions Other 111,497 "360,000 111,497 360,1700 Total Revenues - 714,12 Experditures: Current General government: Public Safety Public works Community development Libraries , ' Parks, beaches ind recreation Capital expenditures $ 8,673,546 4,501,031 4,112 515 Debt Service . , PnngpaI Retirement (Note.9) lnierest,and +fiscaicharges , Total Expenditures 8,673,546 4,501,031 4,172,615 Excess of Revenues Over ' (Under) Expenditures (8,673,546) (3,786,519) 4,887,027 Other Finanang Sources,(Uses),. Operating transfers in ' Operating transfers out Proceeds from long term debt 708,44 1 , ' 708,441 Proceeds from sale of assets Total Other Financing Sources (Uses) 708,441 708,441 , Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses (8,673,546) (3,078,078) 5,595,468 ' Fund Balances, July 1 8,080,851 6,980,851 (1,100,000) Fund Balances, June 30 $ (592,695) $ 3,902,773 $ 4,495,468 , See Accompanying Notes to Financial Statements. 10 ' 1 Totals (Memorandum Only) Budget Actual (Unfavorable),, $ 40,685,068 $ 38,471,775,,;; $ (2;213,293) 2,246,950 1;795,238 (451,712) 6,846,000 7:621,643..: - 775,643 ` 5,001,025 4,703,200 r (297,825) 2,885 000 : - 2;246,112 (638,888). 9,635,25 9,439,160'` (196,090) 2,496300 558,830: (1,937,470) 376 850 684 263 : 307,413 70;172 443 :: . 65,520221 (4;652,222) 4;559,130 4.;359,857 ;: 199,273 708,886 3A 706 655 (997,769) 12 561 254: 12779 215 (217,961) 3,400;310 3',636 092 ` (235,782) 3,483 812 3,525 782': ' (41,970) . A,649 943" 4.,994 976 . (345,033) 61 595 .; 12;094;240: 14;967,355 379;521 452,227 (72,706) . 507286, 703,119 0 (195.894),:, - 86,a,11,737 ,.... 73,252,224 13,059,513:,. (16,139 284) (71732,003) 8,407 291 8,143 388 8,027,315 (116,073)`' ' (11,010,976)` (11,010976),;` ;800,424 ` 800,424 143,000 92 684 .,, (50,316) (2,724,588) (2,090 553} 634,U35 , (18,863,882) (9,822,556) 9,041,326 39,261,862 37,486,831 (1,775,031) $ 20,397,980 $ 27,664,275 $ 7,266,295 11 12 1 CITY OF NEWPORT BEACH ' Combined Statement of Revenues, Expenses and Changes in Retained Earnings , All Proprietary Fund Types Service For the Year Ended June 30, 1993 , 12 1 Internal Enterprise Service ' Operating Revenues: Charges for services $ 13,225,483: Other 57,415 , Total Operating Revenues 13,282,898 , Operating Expanses: Purchase' of water Saianes and wages. 5,587,254 2,493,143. , Depreciation:.. 1,5201298 Professional services 1;014,330 Mamtenance and supplies 391,747 , Systems maintenance `ii 66,004 Claims and judgemerris $ 1,352,967 Compensated absences: 411,408 Other , 916,726 Total Operating:Expenses 11;989,502,, 1,764,375;' , Operating Inceme (Lass) 1;293,396 (1,764,375) , Nonoperating Revenues (Expenses): Intergovernmental revenue 52,576 In(erest income 818,153 173,809 Otherincome 42,211..; Interest expense (15,925) Total Nonoperating Revenues 897,015 173,869''` Income (Loss) Before Operating Transfers 2,190 411 ' (1 590,566) Operating transfers in 3;500,000 Operating transfers out, (616,339) , Net Income 196741072 1,909,434 Retained Earnings (Deficit), July 1, as restated (Note 20) 27,261,020 (12,065,287) ' Retained Earnings (Deficit), June 30 $ 28,935,092 $ (10,155,853) See Accompanying Notes to Financial Statements. ' 12 1 11 1 1 i 1 J 1 i 1 1 1 C� 1 1 1 1 1 1] Total (Memorandum Only) 1993 $ 13,225,483 57,415 15,195,733 $ 18,779,239 1 13 CITY OF NEWPORT BEACH , Combined Statement of Cash Flows ' All Proprietary Fund Types For the Year Ended June 30, 1993 Enterprise Internal ' Funds Service Cash flows from operating activities: Operating income (loss) $ 1,293,396 $ (1,764,375) , Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation 1,520,298 ' Changes in operating assets and liabilities: ' (Increase) decrease in accounts receivable (601,232) (Increase).deorease in due from other funds. 10,804 , (Increase) decrease in inventories of materials and supplies; at cost 3,720 (Increase) decrease in other assets ' Increase (decrease) in accounts payaWe 96,273. Increase (decrease) in accrued payroll 6,625 Increase (decrease) in due to other funds 106,781 Increase (decrease) rn:deposits : (13,876) ". increase (decrease) mclaims and judgments and compensated absences payable (355,625) , Total adjustments 1,128,540 (355,625) Net cash provided by operating activities .2,421,936 1 20,0 ' Cash #Lows Ifirom noncapital financing activities Intergovernmental revenues:. .11 52,576 Other_non operating revenues 42,211 , Operatin 9 transfer. from other funds :. 3, 500, 000 Op erating transfers to other funds (516,339) Net cash (used for): noncapital , financing activities' (421 552)._ 3,500,000 Cash flows from capital and related financing activities ' Acquisition of capital assets :- (2;029 857) Principal paid oncertificates of participation (245 000) ;. Interest paid an defiflcate of participation (15,925) Net cash used for capital and - related 5nancrng activities (2,290,782) Cash flows from Investing activities ' Interest on investments 818 153 173,809 Net increase in cash and ' cash equivalents 527,755 1,553,809 Cash and cash equivalents, July 1 13,061,356 4,390,616 ' Cash and cash equivalents, June 30 $ 13,589,111 $ 5,944,425 Supplemental Disclosure Contributed Capital ' $ 145,005 $ - See Accompanying Notes to Financial Statements. 14 ' I [] 1 i 1 1 1 Total (Memorandum Only) $ (470,979) 1,520,298 (601 100j781 (13,878)' This page left blank intentionally.- 16 I 1 [� I i 1 1 I 1 1 1 L nSid r ra . . v TM I 1 1 1 1 1 The financial conformity _,r and r( a CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 1993 sorting Entity been prepared in as applied to GASB ") is the riff-and financial for the: following entities provide, services within the City but. fornia, County of Orange and various school and'otht: arovide oversight responsibility for these entities and ided in this report. "). The of New districts. of n. ` in of oes not The City uses_ Rinds and account `groups, to report its financial position and result of operations. Goverttmental accounting systems are orgamzed and 6perated on a fund basis. Fund accounting is designed to demonstrate. legal compliance and aid financial management by segregating transactions`related to certain City functions -or activities. A fund is defined as an independent fiscal and accounting entity with a self - balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated for the purposes of carrying out specific activities or attaining certain objectives in accordance with special regulations, restrictions or limitations. 17 (Continued) CITY OF NEWPORT BEACH Notes to Financial Statements The combined financial statements in this report are grouped into three broad fund categories containing seven generic fund types and into. two account groups as follows: Governmental Fund Tyocs General Fund The.General Fund is the general operating .fu n& of the City. The General Fund is used to account; , for all financial resources, except those required to be accounted for in another fund. Special Revenue Funds - The Special Revenue: Funds are used to account for the proceeds of specific revenue sources or to finance specified activities as required by law or adn-Linistrative.regulation.: Eielit Service Fund = The Debt Service Fund is used to account for the accumulation of resources required for the payment ;of general longrterm debt principal 'and interest. iecis . Funds z1fie, Capital Project Fun.d.s . are used to account for financ red for the ac4uisition or. construction. of major capital facilities other th 6d . by. propri6ta6 Funds The Enterprise Funds are,used to account for operations, tl Fices i-to.. the genetal, public which are financed primarily by user charges no of pet income isdeeme d appropriate; ther-departmen.tS on &cost4eimburSCMCnt basig: ' As - The Agency Funds are used to acc * ount.fo . r assets held by the :City as individuals, private organizations ot:othergovernmental units.,and/or other fun4cfs. Vs E. I I I I I 11 I I I I I E I I I I 11 I I IrI-,I L1 With this measurement CITY OF NEWPORT BEACH Notes to Financial Statements nancial reporting treatment . applied . to a fund is determined by its Ill governmentaPfunds are accounted for using a current financial focus. With this measurement focus, only current assets and current included-on 'the balance sheet. Operating statements of these funds revenes. and` other fit ancial. sources) and .decreases (i.e., financing uses) in net current assets. Recognition of governmental resented by non- current receivables is deferred until they become e accounted for on a. flow of economic.resources measurement focus. focus, all assets and all liabilities associated with the opeiatratt; of ed on the balance sheet. Fund equity (i.e., net total; assets }ris D d period or soon;;tnereatter to,oe urea to pay iianurnes or me current periou. ruc ;,n.-y considers property takes as available if they are remitted within 60 days after the yearend. Sales taxes are considered available if they are remitted within 30 days after the year etid. Other revenues considered susceptible to accrual incldde.interestincome and chatrges` for services. Licenses and.permits; fines and forfeitures and other taxes are not susceptible to accrual because they are not measurable until received - in,cash. Grant.funds earuabut not received are recorded as a receivable, and grants received before the related: revenue recognition criteria have been met are reported as deferred revenues Expenditures are recorded I when the related fund liability is.incurred >!'except that prrncrpai and interest on general long-term debt is'recogi ized when' due. The accrual method oU accountng is followed by the City:s proprietary fund types (Enterprise and Internal Service Funds).. Proprietary. :fund types are accounted for on an "income determination" or "cost ofle ice" naeasurenient focus. Accordingly, all assets and liabilities are included in their respective balance sheets, and the reported fund equity (total reported assets, less total reported liabilities) provides an indication of the economic net worth of the fund. Operating statements for proprietary fund types (on an income determination measurement focus) report increases (revenues) and decreases (expenses) in determining total economic net worth. Under this determination, unbilled service receivables are recorded at year-end. iVj Measurement Focus The accounting and fi measurement focus. A resources measurement ' liabilities generally are present increases (i.e expenditures and other fund type revenues rep current; ' All proprietary funds az With this measurement CITY OF NEWPORT BEACH Notes to Financial Statements nancial reporting treatment . applied . to a fund is determined by its Ill governmentaPfunds are accounted for using a current financial focus. With this measurement focus, only current assets and current included-on 'the balance sheet. Operating statements of these funds revenes. and` other fit ancial. sources) and .decreases (i.e., financing uses) in net current assets. Recognition of governmental resented by non- current receivables is deferred until they become e accounted for on a. flow of economic.resources measurement focus. focus, all assets and all liabilities associated with the opeiatratt; of ed on the balance sheet. Fund equity (i.e., net total; assets }ris D d period or soon;;tnereatter to,oe urea to pay iianurnes or me current periou. ruc ;,n.-y considers property takes as available if they are remitted within 60 days after the yearend. Sales taxes are considered available if they are remitted within 30 days after the year etid. Other revenues considered susceptible to accrual incldde.interestincome and chatrges` for services. Licenses and.permits; fines and forfeitures and other taxes are not susceptible to accrual because they are not measurable until received - in,cash. Grant.funds earuabut not received are recorded as a receivable, and grants received before the related: revenue recognition criteria have been met are reported as deferred revenues Expenditures are recorded I when the related fund liability is.incurred >!'except that prrncrpai and interest on general long-term debt is'recogi ized when' due. The accrual method oU accountng is followed by the City:s proprietary fund types (Enterprise and Internal Service Funds).. Proprietary. :fund types are accounted for on an "income determination" or "cost ofle ice" naeasurenient focus. Accordingly, all assets and liabilities are included in their respective balance sheets, and the reported fund equity (total reported assets, less total reported liabilities) provides an indication of the economic net worth of the fund. Operating statements for proprietary fund types (on an income determination measurement focus) report increases (revenues) and decreases (expenses) in determining total economic net worth. Under this determination, unbilled service receivables are recorded at year-end. iVj CITY OF NEWPORT BEACH Notes to Financial Statements Budgetary Control and Accounting The City adheres to the following general reflected in the fin are conaucrei 1, the budget • _ The. City, M within _a ftim funds or_ Arai • T -he bfidget is: ma iagemerivc • Budgeted` aino amounts.: Re.N were: a�foho° procedures in establishing the budgetary data the City Manager subinits to the City Council a proposed operating fiscal year commencing the following July 1. The operating budget ised expenditures and the means of financing them. Public, hearings at City Council meetings to obtain taxpayer comments. Prior to July s legally adopted through passage of an appropriation resolution. are adopted on year. rrojects following year. Encumbrances 1] 1 1 1 1 1 1 1 1 1 11 1 1 1 und,'iSpecial Revenue 1 ial basis. Incomplete in the following fiscal are reevaluated in the Encumbrances represent commitments related to unperformed contracts for goods and services. The City utilizes an encumbrance system as a management control technique to assist in controlling expenditures. Under this system, encumbrance accounting for the 20 1 1 1 1 I 11 I I 11 F I I I I I U I I I CITY OF NEWPORT BEACH Notes to Financial Statements expenditure of funds is recorded in order to indicate outstanding commitments and is employed in the governmental fund types. Encumbrances outstanding at year end are reported as reservations offimdb... arices since they, do not constitute expenditures or liabilities. Encumbrances 1. a I r , id I their rel a t , 0 . d budgets arehornored in the subsequent year to fulfill these commitments.... For purposes highly* liquid Forlinancial and-investffi*e 1, �,MULVM�LLL� of the :Statement-of investments with a r statement presentati its in the prourietarV investments Investments are .stated at co: which are stated: at market vAli Cash and investmerits investmen&g! 11 catedt6the in: : ;;�. ; 15:9; :i. - .. ! nv' 6stment ance. No. ds n.has not been met on this 'amount, a corresponding deferred revenue to be cash on of UCnerall-MeQ Assets.. The generh1--fiked assets of the City are accounted for in a separate-seltr account group described'-iklhe. "General Fixed , As I sets Account Group." The'sew,gez neral fixed assets are capitalized al istoriM cost or estimated historical cost if actual historical cost is not available. Donated fixed .assets -are; valued at their estiniated-far market value on the date donated. Fixed assets acquird-d'.46 !gh:.,16a.se obligations are valued at the present value of future lease payments at the date acquired, Assets in the general fixed asset account group are not depreciated. The City has elected not to capitalize the cost of building or acquiring infrastructure fixed assets (e.g., streets, bridges, curbs and gutters, storm drains, sidewalks and light systems). Consequently, these items are not reflected in the City's combined financial statements. 21 CITY OF NEWPORT BEACH Notes to Financial Statements Enterprise Funds Fixed Assets Fixed assets of the City's Enterprise Funds are recorded.. at historical cost or estimated historical cost, if actual historical cost is not available. Contributed fixed assets are valued at their estimated fair market value on the.date.of contribution. Depreciation is charged over the estimated useful lives using the straight4ine method. The estimated'useful lives are as follows: Structures 50 to 75 years Equipment 4-to 10 years, incurred but as claims lat The City k. d6W City at the end c ttie,capital lease of the date of ti recorded both` accounted for in at year�enQ, wh Property taxes tax calendar. Lien date Levy date Due dates ments its for material.clairits.and judgments when it is probable that the liability ncurred and the amount.of the loss can be reasonably estimated. The City fated loss liabihties.in the Internal.Service Fund. Included. therein are claims ;reported,;which.consists of (a) knowa loss events expected to be presented a) unknown loss events that are expected to become claims, and (c) expected . ent on claim already reported. This is based upon historical actual. results shed a reliable; .pattern. Small dollar claims and judgments are recorded as en paid.: are as a capital expenditure and other financing source,. -a manner consistent with general debt obligation levy and collection of property taxes are the resj ty records property taxes as.revenue when receive en property taxes received within 60 days are aecr are assessed and collected each fiscal year accords Collection dates 22 hen title trap: rase. option. [num lease p; eneral fixed nital lease na fers to November 1 - 1st installment March 1 - 2nd installment December 10 - 1 st installment April 10 - 2nd installment 1 1 H 11 1 1 1 I I I I I I I I I F I H I I I 11 I 11 I CITY OF NEWPORT BEACH Notes to Financial Statements Compensated Absences It is the City's policy toper, emplo,yees to:accumulate.eamed but unused vacation and d unused sic hi employees limited amounts of je. pe u d i k leave behefits.w which will be paid to employ s upon separation, from Ciry service. Beginning in,fiscal year 1990, the City adopted a general leave plan to replace the traditional vacation and. sick leave plan. The,general leave plan permits a maximum of thre6 year's accrual for every employee, above Which the excess is paid out as currentcomperisation. All employees hired pridrt.04 anuary .1 1; 1990j were given the option of rernainine in the traditional vacation and sick * :leave: plan oi Oirolling in the to Cash investments at June 39, 1993, consist6d. of following: Pooled cash Pooled investments, �:Ile­;sg: restricted ca: Cash and investments - 'iieferred;comF 6 Total Cash and Investments 23 rents 46,944,810 /PARS 16,765395 $ 64,665,508 the and CITY OF NEWPORT BEACH Notes to Financial Statements Restricted cash and investments: •4he provisions of the California Governmer :jk nent policy, and in accordance with Section 53601 'ity may deposit and. invest in the following: lent, or its agencies Deposits) bank balances_, The California Government C loan associations to secure .I,a,.city's deposi ateral. The market value of pledged secur,l osits. California law also allows financialt inst t , trust deed mortgage notes having a value of banksand U least 110% o city deposits by may waive collateral requirements . fs for deposits which -are fully -'insured up to $100,000 by ­i. - Iii * Federal d6p.ositorydnsurance. t i: the level of The City's depp S, sits at year-end,: are categorized belov�.,to give an indic: at on credit risk assumed by the City in three categories asfollows: Category I - Insured col, or c, , a, eralizedwith securities t held by the entity or by its agent in the City's name. Category 2 - Collateralized with securities held by the pledging financial institution's trust department or agent in the City's name. Category 3 - Uncollateralized. 24 I I I I I I 11 I I I I I I I I I I I 11 I 11 [1 1 1 1 CITY OF NEWPORT BEACH Notes to Financial Statements As of June 30, 1993, the City's deposit balances were as follows: Bank Carrying Balance Amount Petty Cash $ 4,620 Deposits: 25 At CITY OF NEWPORT BEACH Notes to Financial Statements The City's investments at June 30, 1993, are summarized below for the credit risk, carrying amounts, and market values: Pooled investments: Repurchase agreement $ .. U.S. Treaspry;Bills 15,074 U.S: Treasury Notes 12,636,536 Federal! Home Loan Mortgage 2,121;049 V ^A —I F C ed' B I, Sta Los Guaran Mutual arm r it an t Term Note" 780,612 de obligations 498,587 acceptances 984,029.' California: -al agency Category i Carrying Market Amount .Value i:- 373,000,.. 373,000 373,000 989,691 1,0041755.. 1,007,364 2,996,055 15,632;591 ` 16,071,070 2,010,937 4;131,986 4,121,420 1,981,811 '` 1,981,811 _:1,982,030 investments 780,612 753,033 1,057,060 1,555,647 1,543,030 $, 950,607 984,029: 992611 Investment Fund* 4,5.12,482 CountyPooled Fund* 18;277,228: - geles County ...... 803,979 803,979 Total!pooled investments $.17;035,887 - 9,408,544'' 50038;120 vestments with fiscal agents: entfunds $, 950,607 950,607 mpensation fund mestmeitts" $ 247,354 , eed contiactanriui[ es* 334;426 funds* 16:f81615 Total deferred compensation $ 16765,395 26 I 1 1 1 [] 1 1 I I I I 11 I I I I I Lei El I r, I I I d (3) Fixed Assets A summary of the Land" �.. Structures I 3 Equipment 10ment Automotive CITY OF NEWPORT BEACH Notes to Financial Statements 1 1992 ,stated):, )t6i 19) -.Additions Deletions C, 15 566 2 273 000 Enterprise. . Fuhd§- 199, 4;154,857 1.782.939 36,579,956 44.872 988,467 9,366,242; A - -861635 689..20 14' 2241 1 98 8,280,959 689;263 79 .0 , 4994 pr oprietary fund type fixed assets are as follows. )91'- $ 27 ,777,4.31 431 �509 559 45,907 4) ., . Balance 9L J Additions Deletions June ne 30, 199 3,056,613 64�717 A A - A Equipmell.L. 1.782.939 'I 47,094: - 44.872 11 - 2,029,857 13 1,609.,: Less accumulated depreciation (j, 98) 5 2D,2 - 115,702: Net $ 27 ,777,4.31 431 �509 559 45,907 27 CITY OF NEWPORT BEACH Notes to Financial Statements (4) Long -Term Debt General Long-Term Debt Account Group: A summary of the changes in the general long -term debt account group is as follows the City ent tease certar Note nto a project leme.with the Newport Beach Public Facilities Corporation eacilities, improve ments and equipment. the City wrli tie held by a trustee who will make::sen on the certificates of participation. The..lease payments begin May 15, 19 t amount:suffieie rto cover-the payment of principal and interest of .j, ncipal payments range from $1 "30,000 t6.$560,000 from June 1, 19 gh June 1, 2019•at an interest rate from "6.0% to "6.2 %a. At June 30, 1993, the City k iired cash reserve balance for debt service of $855270. The certificates outstanding 30 1993 amounted to $7,500;000. consists of a:note to the California Department, of I 87 for a loan in the::amount of $3,300,000: The note is interest installments of $268,600 at 611 rate'of inten [staiiding:balance at June 30, 1993 amounted to $31M principal a 1987. The Loan Payable oating, and Waterways )ayable in thirty annual rt.begjrtning August 1, In June 1989, the City entered into a Section 108 loan with the Department of Housing and Urban Development for $1,200,000. The Section 108 loan is payable in semi- annual installments through August 1995. The debt service payments are recorded in the Community Development Block Grant Fund as community development expenditures. The remaining principal payments are $230,000 and $240,000 at an interest rate of 8.75 %. The outstanding balance at June 30, 1993 amounted to $470,000. M [1 1 1 i 1 1 1 1 1 i 1 i 1 1 i 1 i 1 1 Balance July L 1992 Balance .(Restated- note 19)- Additions Retirements June 30, 1993 Certificates of patticip ation $ 7,500;000 7,500,000 Note payable 3,264,886 72,706 3,192,180 Loan payable 865000 395,000 470,000 ' Capitalizedleases, 950.598. 911.983. 379.521 663.060 " $ 12,580;484 91,983 847,227 11,825;240 Certificates of Participation On June 1 1992; the Newport Beach Public Facilities Corporation issued $7,500,000 of Certificates of Eartrcipation to finance the construction of the new Central Library. in turri ' the City ent tease certar Note nto a project leme.with the Newport Beach Public Facilities Corporation eacilities, improve ments and equipment. the City wrli tie held by a trustee who will make::sen on the certificates of participation. The..lease payments begin May 15, 19 t amount:suffieie rto cover-the payment of principal and interest of .j, ncipal payments range from $1 "30,000 t6.$560,000 from June 1, 19 gh June 1, 2019•at an interest rate from "6.0% to "6.2 %a. At June 30, 1993, the City k iired cash reserve balance for debt service of $855270. The certificates outstanding 30 1993 amounted to $7,500;000. consists of a:note to the California Department, of I 87 for a loan in the::amount of $3,300,000: The note is interest installments of $268,600 at 611 rate'of inten [staiiding:balance at June 30, 1993 amounted to $31M principal a 1987. The Loan Payable oating, and Waterways )ayable in thirty annual rt.begjrtning August 1, In June 1989, the City entered into a Section 108 loan with the Department of Housing and Urban Development for $1,200,000. The Section 108 loan is payable in semi- annual installments through August 1995. The debt service payments are recorded in the Community Development Block Grant Fund as community development expenditures. The remaining principal payments are $230,000 and $240,000 at an interest rate of 8.75 %. The outstanding balance at June 30, 1993 amounted to $470,000. M [1 1 1 i 1 1 1 1 1 i 1 i 1 1 i 1 i 1 1 I ' Capitalized Leases In the current and ' agreements as less( system and upgrae term or as equil om rtizal CITY OF NEWPORT BEACH Notes to Financial Statements iscal years, the City had ente uncing the acquisition of a ge luipmenv and .software. to the rms of the leases range from th es on these obligations: rang E d1eases for accounting purpose o. several lease - purchase information and mapping a1 management and data We years and are payable 7 % to 4%_ ;,These lease title transfers at the end of The.assets acquired were neat in the General! Fixed Asset Account Group totaling $1,493;1 on Reduireinents of Lone Term Debt ' 1 1994 $ $ 236 372. 2 20;562 5 592,285 3 307,697 A A ,1 1995. 2 236,372. 2 256;281 5 589,485 :: 2 246,553 U U, ii 1996 ;. 2 236,372 2 255,719 5 591,385., , 1 1.14,881 1 1,1 1.994 2 236,372. 5 587,685 3 31803 # # ' 1 1998 2 236,372 8 88;65 2 2 , ,E gal ance Balance July 1, 1992 Additions Deletions June 30, 1993 Certificates of Participation $ 245,000 245,000 29 CITY OF NEWPORT BEACH Notes to Financial Statements Internal Service Fund A summary of changes in long term debt of the internal service funds is as follows Claims and Judgments The City is self insured as described in note 6: . be paid in 278 ultimate: amount wes :the accrual.is 011 I 11 I 1 1 [1 [1 Balance Balance July 1. 1992 Additions Deletions June 30, 1993 Claims and judgments payable °` $ 10,889,033 1,352,967 .:. 2J201000 10,122,000 Compensated absences 5:566.870 411.408 5:978:278 16,455,903 1,764,375 2,120,000 16,100,278 Less current; portion 1,950,000 1.950.000 , Total long -term ',:S 14,505,903 14,150,278 Claims and Judgments The City is self insured as described in note 6: . be paid in 278 ultimate: amount wes :the accrual.is 011 I 11 I 1 1 [1 [1 I I I I 11 I I I J 1-1 I I I CITY OF NEWPORT BEACH Notes to Financial Statements (5) Special Assessment Districts Bonds During the fiscal year ended Juhe 36j� 19103, the City, established two new Special Assessment Districts (No .1 63 and' No.':;66);; Bonds were issued by the new Districts in accordance with-the. improvement Bond, Act of 1915 1 for the -purpose of funding certain capital improvements within each District. Bonds outstanding afkure,30, 1993 for each district under the Bond Acts of 1911 and t9l5:are; as: follows: No. 56 China No. 57 Coron No. , 58, Canne No. 59 McFai No. 60 Bay A :No. 61 East E No 62,- a z e I. No. 65,;- . oc . k .. N Rock June 30, 1993; the ims. As of April ,I City. For general I ounts in excess of :rded for general li I is expected -to be'.1 It . S (Sa-riote4).: rlpnprnl I inhilitv nnd.Wnrke.rz' claims $10,122,000 the next five fiscal The City offers its: employees a deferred compensation plan created �iu�kcordanee with Internal Revenue Code Se6tt . bn 457i The plan, available to all City .em...playe - 6$4,permits them to defer a I J , portion of their salary iiiifidfqk. .:years. The deferred 6 - ompens` ation is not available to employees until terninationjettretnert Y or,," f 6 reseea e 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 31 fonds Original ng trict Issue ' J=630,4.993 Fove $ 145,254 129,668'., tl:l ig Highlands 938i598, 322,26,71 Y. �Jjll % 107,746- 55,000 den Squ are:' 530,609 i.enue 236,533 225,000 iy Front 127,299 120,000 )rive: r -335i210 320,000 .Point 53J25 51;000 irtisland 536,531 536531 PwPbrt 171,911 171;9x;1 - 1-le cq ts.and disburses funds for these districts, the City has no obligation iin riepy out .of ' any available funds of theCity. Neither the faith and rlpnprnl I inhilitv nnd.Wnrke.rz' claims $10,122,000 the next five fiscal The City offers its: employees a deferred compensation plan created �iu�kcordanee with Internal Revenue Code Se6tt . bn 457i The plan, available to all City .em...playe - 6$4,permits them to defer a I J , portion of their salary iiiifidfqk. .:years. The deferred 6 - ompens` ation is not available to employees until terninationjettretnert Y or,," f 6 reseea e 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 31 CITY OF NEWPORT BEACH Notes to Financial Statements general creditors of the City in an amount equal to the fair market value of the deferred account for each participant. The City has no liability for'losses under the plan but does have the fiduciary responsibility under the plan of due care'that would be required of an ordinary prudent investor. The City believes that it is unlikely it will use the assets to satisfy the claims of.general creditors in the future. The. assets'under the plan arexeported at market value in an Agency°Fund and totaled $16,765:,395 at June 30, 1993. Retirement Plans PI an Descrintion - Defined__ Benefit Plan The City tycontributes to the California Public Employees' Retirement System(PERS), an agent multiple- employer - public employee retirement system that_acts as a common investment and administrative agent for participating public entities within the State of California. The City's covered payroll for employees participating in the System for the year ended June 30, 1993 I $33,368 813. ;The:to.tal payroll for the year was $38;734,504. All full-time and'part time benefited City employees are eligible to participate in the System. Part =time non benefittedhoudy employees do not participate in the System. Benefits vest after 5 years .of service City . public safety employees who retire at or after age 50, and nuscellaneous (non safetyp employees who retire at or after age 60, with 5 years of credited service are entitled to an,annual retirement benefit, payable monthly for life, in an amount that varies from 2% at age SQ,to a ma" iu,in of 2':7 % at age 60 for :safety employees or in at amount that varies from 1.092% at;age 50 to a'-maximu m of 2.41$% at age'60 of the highest year's salary for•. non- safety employees, for each year of.credited service. The system also 32 [1 1 1 1 1 [1 i 1 1 [1 1 1 1 [1 1 1 1 I 11 1 LI Ir, u CITY OF NEWPORT BEACH Notes to Financial Statements Funding Status and Progress The amount shown below. the present value of.pensio to be payable in_the future$ help assess the funding sta in accumulating sufficient employers The measure i independent of the funding result of employee service to d of the System on a going -cone, aets to pay benefits when due; ie actuarial present value of cn Ihod used to determine contribi a was computed as part of an a actuarial assumptions used in esenf aril future assets of 8.754 of 4.50% a year compounded at y1 ierease:s;of 2.5% a year for " is a standardized measure of ofstep -rate benefits, estimated tte. The: measure is intended to Tri basis, assess progress made and make comparisons among difed nroiected benefits and is as PERS uses the Entry AgeNormal lactuarial Cost Method which is a projected benefit cost method. That is, it takes mi account.those benefits which are expected to be earned in the future as well as those already accrue d. „According to this cost method, the normal cost for an employee is the level amount which would fund the projected benefit if it were paid annually from date of employment until retirement. PERS uses a modification of the Entry Age Cost method in which the employer's total normal cost is expressed as a level percent of payroll. PERS also uses the level percentage of payroll method to amortize any unfunded actuarial liabilities. The amortization period of the unfunded actuarial liability ends in the 33 CITY OF NEWPORT BEACH Notes to Financial Statements year 2000 for prior service benefits and in the year 2000 for current service benefits. The significant actuarial assumptions.:used to compute the actuarially determined contribution requirement are the same as those used to compute the pension benefit obligation, as previously described. The contributions to the System for fiscal year ended Junie.30, 1993 of $5:647,246 were 34 [1 1 1 1 [_1 1 1 1 11 1 1 1 1 1 [1 1 1 1 1 1 1 t CITY OF NEWPORT BEACH Notes to Financial Statements Plan Description - Defined Contribution Plan As of January 1, 1992 the City entered into a defined contribution plan with Public Agency Retirement System ( "PARS ") for all of its part time employeesg ,,In a defined contribution plan, benefits depend solely on amounts contributed to the plan `plus,investment earnings. All part-time employees are eligible to participate. from the date of employment. Federal legislation requires contributions of at least 7.5% to a retirement plan, and_ City Council resolved to match the employees contributions of 3.75% . The City's contributions for each employee (and interest earned by the accounts) are fully vested imrnediately: For the year ended June 30; 1993, the City's covered payroll for employees participating in the plan was $2,254,224. - The City_ made employer contributions of $84,533 (3.75%; of current covered payroll }. Assets ofithe plan totaling $247,354 at June 30,1893 are reported as deposits_ in the _Deferred Compensation Agency Fund: Earlv Retirement: Program On June 30, 1903; the. City: implemented and offered an Early Retirement Program to certain'. employees whose; retirement would lead to permanent vacancy within the it r ganization€ The Early Retirement Program provides, participating employees with as Mement;to their normal PERS retiretnentbenefits:by an additional payment from the City:: As of Tune 30 1993,,;;eighteen. employees. -opted fo .participate in the Early Retirement Program' which is budgeted and will be funded as a onetime payment of $828,000'in.1994. r Post- EmploymentHeaithGare.Benefits " ! ' ,. ': As,estabhshed by a City Council;approved Memoranduni of Understanding betwcen.the City and its `employees, the City provides its employees post employment health care benefits ;Specifically, employ. s who retire from the City with seven years.of service and partict" =are are eligible to receive health care benefits covering themselves and any qualified family members from" -the City's„ insurance carrier, Health Net.- The City pays 50°Io of all premiums charged under the selected plan while the active and'retired employees split the remaining premium at a rate of 25% each. This ptogram is . funded on a pay -as you go basis. The City s expenditures for post employment health care benefits for fiscal years 1993 and 1992:wgre $220 502• and $236,807, respectively. As of June 3t) 1993,.149 participants were eligible.to receive " benefits - 35 CITY OF NEWPORT BEACH Notes to Financial Statements (11) Interfund Receivables and Payables At June 30, 1993, interfund:receivables and Payables were as follows: i I [] [] 1 f] 1 36 1 Due From - Due To Other Funds Other Funds General;Fatid < $ 1,796,812. Special Revenue Funds: Parking Meter Fund 582,162 . Arterial Highway Financing 37,335: , Traffic Safety 47,630 Community Development Block Grant 6` 2 4077 582,162 147,372 Capital:Prbjects Fund: `. Assessment.Dtstrict 1;198,032 Enterprise Funds': Cannery Village 905,383 : - Mannapaik 128,187 '. z 'Nor 938,233 Totals .:: , . $11378 04- .. 2,378,974 Chanties in Contributed Capital A summary of the changes 'ni contributed capital of"the.Enterprise Punds. s as follows: Water Utility Wastewater Marinapark Total Balance, July 1, 1992 $ 4,553,244 "8 937,790. . 15,000 13,506,034 Additions 51,900 93:105 145:005 Balance June 30,1993" $ 4605 ,144 9,030,895 15,000 13,651,039 i I [] [] 1 f] 1 36 1 I 1 C 1 F i [1 1 CITY OF NEWPORT BEACH Notes to Financial Statements (13) Reserved and Designated Fund Balances Reservations of fund balances consis'tl the following: Special Debt 1 in fiscal year 19 ed Statement of apical Projects;Fund did not h 5f these +:funds are not include l Changes: in ,Fund Balance - Fund balance on a budgetary basis $' 14,835,486 '3,902,773 Add reconciling items Federally Adopted'Ft Capital Improvement Fund balance on a GAAP basis 37 1,100.00 0 $ 15,248,354 5 002,773 General Revenue Service :':" Projects Fund Funds Fund Fund-. Total nctmbrancesi -,. $.1,580,946 . 493,849:. .. , 2 -074,795 iventories 365,195 - 365,185 ebt Service 855.270' Sb 4 4 946,1.31 493,849 :855,270 ".._ 56,494 3,35'1.744 gnations established as of. June 30, 1993 are as follows Special Capital General Revenue. Projects Fund Funds� Fund TQtaI ontingencies !$ 6,112;374 6,112,374 pproprianons 12,241 12,241 pecial Projects. 14,734.228 4.946.279 19 680.507 Total Mst ' 6a ' ' $ 6-112-4,16-1-51. 14;734,228' 4,946.:279 25;805,122 1 in fiscal year 19 ed Statement of apical Projects;Fund did not h 5f these +:funds are not include l Changes: in ,Fund Balance - Fund balance on a budgetary basis $' 14,835,486 '3,902,773 Add reconciling items Federally Adopted'Ft Capital Improvement Fund balance on a GAAP basis 37 1,100.00 0 $ 15,248,354 5 002,773 CITY OF NEWPORT BEACH Notes to Financial Statements (15) Segment Information for Enterprise Activities There are four services provided by the City. which are financed primarily by user charges - parking, water services, sewer : services and a mobile -home facility. These services are accounted for in separate enterprise, funds.. The key financial data for the year ended June 30, 1993 for these Enterpri se Funds areas follows: 44,631,01 295,141 29,964,8Q4- Cannery 15,000' 42;576,13 Village Water Waste- Parking LdWy water Marinapark Total, Operating revenues $ 93,091 10,780,435 1,8„24,919 584,453 13,282898 Operating expenses. Depreciation 4,299 768,546 737,576 9,877 1,520,298 '.. Other 5,418:`9;531,566 863;437 68,783 10469,204 Operating income; 83,374 480,323 223,906 505,793 1:2913,3061':' ::. Operating transfers . (net) (516,339) (516;339) Net income 96,733. ;1,260,419 299;228 17,692' 1;674,072 :: Current ca pital i ontnbutrons 51,900 93,105 145,005 Property plant :` and'equ�pment: Ad tons 1,643,734 3861123 2,0291857 763 36 849 11 967 ` (131 600v .1 (831,194) 14,386,642 849930 (90,330) 14,315,04 1, 126,335,:30,988,733.12,369;815 146,136 44,631,01 295,141 29,964,8Q4- 12,311,186 _ 15,000' 42;576,13 vidual Fund Disclosures Tune 30, 1993, the Arterial Highway Financing Special Revenue fund had a ante of $51,354. This deficit will be eliminated, by_ future revenues or trz er funds. hi addition, the_ accumulated deficit of $1'0,155,853 in the Insura rndl Servic6.Fund -is expected -to l)e eliminated by fiiture inte d.epartTnentalit note budgeted apptopriations in the following funds Special Revenue Funds Park and Recreation Fut%d; Building Excise Tax Fund Community Development Capital Project Funds: Assessment District Fund M 104,714 115,066 95,432 11 i 1 i 1 H 1 1 1 [] 11 1 1 (See 1 1 1 i 1 1 ICITY OF NEWPORT BEACH CITY OF NEWPORT BEACH Notes to Financial Statements (19) Commitments and Contingencies The City has been notified of a possible liability as a result of the.decision in the Aerospace Corporation vs. .State Board of Equalization case. The State Board.of Equalization has provided a preliminary estimate of the City's liability approximating $498;139. Numerous claims and suits have been filed against the City in the normal course of business. Based upon information received from the City Attorney, Contracted Attorneys and the Self - Insurance Administrator, the estimated liability under such claims would be adequately covered by.the accrued claims and judgments payable. (20) Restatement of Fixed Assets and Long =Term Debt Fixed Assets As a result of research conducted:.vertaining to the historical cost of general fixed assets and asset balanc effect -of the une X.1 7y balance The Debt nenfas as fc $'78,201,397 (6 744.149) 1 1 i 1 i i 1 1 1 1] I I 1 1 1 1 I I 40 1 1 THE GENERAL FUND The General Fund is used to account for fiscal resources which are: r� i I I I I I I I I I I I I I I I I I I I Assets Cash and Investments Accounts receivable and accrued Due from other governments CITY OF NEWPORT BEACH Comparative Balance Sheets - General Fund June 30, 1993 1993 1992 $ 7,891,530 $ 15,168,904 2,734,179 2,975,556 1,321,835 1,756,861 Due from other un s 1,796,812 t Deposits with other agendiiikt: 498,501 Inventories of materfilliand supplies, at cost 365,1 &1 Other assets 494 3: To tOlAssets. 13,Zg4lft jifib . s and Fund Balance;! Ro "k - .. served for inventories tie hunts payable an&j d Ibil'' it 1;098,61 uedpayroll AM 2,5",l rredi!r'e'4e"hue!!! .6112,374 to others ...... 46.74i ji 1,455,361 uoii it Totil-tkibilitiOstnn.t . � , � 1 1: 5 pi.anpe. d: served for encumbrances ... ... Ro "k - .. served for inventories isidnati6d.for contingencies .6112,374 ;signated W appropriations.- 12,244 Total Fund !Sal 8,070;746 tit it 'it, Total Liabilities and Fund 13.264,610 2'05Tj7,A 1,311,670 320,636 1,1 ,563.318 CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual General Fund For the Year Ended June 30, 1993 i 1993 1992 ari V ance Favorable Budgef" Actual.:... (Unfavorable) Actual Revenues: Taxes 7.1$ 35,020,823 $ 32,836,366 $ (2,184,257) $ 34,544,456 Licenses, fees and permits 903,800 831,197 (721603) 839,695 , Intergovernmental-revenue 3,038;500. 4,033,318 994,718 :; 5,524,420 Charges for services 3,830,900 3,526,268 (304,632) 3,429,626 ' Fines, forfeitures and penalties 75,188. 75,188' Revenue from use of money and property 3,800;500 3,296,411 (512,089) 3,673;100, ContributlonS 750,000 211,242 (538,758) 152-:: Other 312,0-00 267,078 (44,924) 433,851 Total Revenues 47,664,323 45,076,966 (2;587,357) 48,445,300 Expenditures: currgnt General government: 4,559,130 4,359,857 199,273 2,739,194 Pubhc safety 29,708,886 30,706,855 (997,769) 30,686;789 Pubhc works 12 561,254 12,779;215 (217,961) 12,372,598 Community development : 2 875,818 2,996,534: (120,716) 3,010;713 Capital expenditures ., 9 259221. 4,505,458; :. 4,753,763 r: 9,;319,894 Oebt;;Service Principal retireent. m - - 379,521 379,529.. Interest and fiscal charges .;;: 65,'54 7 65,547 1.97,822 ,. ,total Ezpanddures :, 59,409,377 55,792,787 3,816,590 '' 58,327,010 , Excess of Revenues Over (Udder) Expenditures (11,745,054) (10,715,821) 1,029,233 (9,881; Other Financing; Sources (Uses): Operating transfers in 7,299;932 7,257,S6.3:: 569) 7,923;183 Operating transfers out ' (4,269,953) (4,269,953) (4,599,608) Proceeds from long -term debt 91,983 91 983 328,296 Proceeds from sale of assets 143,000 92,884. 59.31 s Total Other Financing , Sources (Uses) 3,172,979 3,172,077: (902) 3,651,871 Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses (8,572,075) (7,543,744) 1,028,331 (6,229,839) Fund Balance, July 1 15,614,490 15,614,490 21,844,329 Fund Balance, June 30 $ 7,042,415 $ 8,070,746 $ 1,028,331 $ 15,814,490 42 , e i�J s 41 P¢ gtl+w�'uigig3:¢eY; n i tL 66j"� qys�� e �1 d t I SPECIAL REVENUE FUNDS , Special_ Revenue Funds are used to account for the proceeds of specific revenue sources which are ' legally restricted to expenditures foe specified purposes.. Newport Beach Special Revenue Funds are as follows: The Park and Recreation Fund is used to account for the City's'parks ami recreation facilities. In addition to the City Manager and Staff Departments, the CWCouncil is assisted in the administration of this fund by the Parks, Beaches and Recreation Commission ' The Library Fund ,'used to account faf the operations of the Cny'slibrary system. The Library Board assists the City Council in providing guidance and direction to the City Staff in the administration of this fund:t The State Gas 7kx Fund accounts for all State Gas Tax related revenues and expenditures, includmg street repair, constructi*and maintenance. State law requires that the street lu these funds be used excsively for maintenance of and- highsvay`syslem. r The Arterial Mrgkwdy Financing Fund is used to account for funds received from the Orange County Transportation Commission for the construction and maintenance of arterial highways. The federal Adopted Forfe*m Fund was established to account for all revenues resulting from, the seizure of "assets m�eiinjUnctlen with criminal cases (primarily drugtraHicking). It is the City's policy that all such funds shall be for enbaucement of law enforcement programs.. Tke Tr"afj% Safety Fund is used to account for. the receipts of all revenues from'traffic related violations, includmg ^. both moving and parking61titi6h.&I Income from this fund is transferred to the City's General Fund to help offset the' ' cost of tra is law enforcement. .h. ,... .. V.i.a The }Parking dieter. Fund is used to account for the receipts of all revenues from parking meters and City. owned' parking lots. Income from this fund is either reserved forpurchases of additional parking facilities or transfer[edrtoe the General Fund to offsetthe cost of parkgg law;enforcementand revenue collection. The 7'de'and Submerged Land -Fund is used to account for the receipts of all.revenues and expenditures related tolhe , operatiob of the City's tidelands, including beaches and. marinas, x The Contribution Fund is used to aoconnt for the receipts of all revenues received from other government agencies or , private developers and expended for speck street or highway construction projects. The Building Excise Thr Fuhd•is used to account foe the receipts of all revenues received from buihlers or developers , on building or remodeling projects within the City., Expenditures from this4und are used. exclusively for public safety, libraries, parks, - beaches, or recreational activities. The Combined Transportation Fand isused to account for the revenues and expenditures of funds received from the , Orange County Combined Transportation Funding P.rogram..; Expenditunesifromi this fund are used exclusively for transportation related purposes.. ' The Community Development Block Grant Fund is used to account for revenues and expenditures relating to the City's Community Development Block Grant program. These funds are received from the Federal Department of Housing and Urban Development and must be expended exclusively, on programs for low or moderate income indi- viduals/families. 7beAekerman Donation Fund is used to account for the receipt and disbursement of funds received from the Ackerman Trust. These funds are split between the City and the University of California at Irvine. The City's portion must be i used for library and scholarship purposes.. . Tliic =rip nn 1pffiNnnk. intontin fiv 43 .4t, L CITY OF NEWPORT BEACH Combining Balance Sheet All Special Revenue Funds , June 30, 1993 Park and Slate Recreation Library Gas Tax Assets Cash and investments $ 2,277,311 $ 189,623 $. 2,607,392 ' Accounts receivable and accrued revenues 8,058 Lease receivable Due from other gonemments 76,064 , Due from other funds Other assets 694 Total Assets $ 2,285,369 $ 266,381 $ 2;607,392 Liabilities and Fund Balances ' Liabilities: Accounts payable and: accrued liabilities :..: $ 81,813 $ 73;552 $ 19,384 Accrued payroll 121,757 89,277 ' D..ue.to other:fuhds Deterred revenue:. 426,534 20,327 Deposits. Total Liabilities 630,104 183,156 19,384. , Fund Balances: Reserved.for encumbrances Unreserved: 64 346 83,225 98,873 Designated for special` projects 1,590,919 2,489,135 Undesignateti Total Fund `Balance s 1,655,265 83,225 :45$8,008 Total Liabilities and Fund'Balances $ 2,285,369 $ 286,3$1; $ 2,607,392 IJ I I I Arterial Highway Financing 1 22,385 I 1 I 1 Federal Adopted Forfeiture 1 22,385 1 $ 71,969: IL,964'685 I I 45 FA (Continued) Tide and Traffic Parking Submerged Safety Meter Land 1,320 280: i ;160,601 71,969, 62,243 1 22,385 1 $ 71,969: IL,964'685 I I 45 FA (Continued) CITY OF NEWPORT BEACH ' Combining Balance Sheet , All Special Revenue Funds (Continued) June 30, 1993 Building , r1 LJ 46 1 Excise Combined Assets Contributions Tax Transportation Cash and investments $ 7,807,097 $ 343,425. $ 525,116 Accounts receivable and accrued revenues , Lease receivable Due from other governments 301,366 837,874 , Due from other funds Other assets . Total Assets ji $ 8,108,463 $343,425 $ ,1,362,990 ' Liabilities and Fund.Balances L�abilihes ' Accounts payable and accrued liabilities $ 101,079 $, 423,445 Accrued payroll Due to other funds. , Defe'red "revenue si 867,914 Iotal?Liabilities 101 079L, 1,291 ` 359 Fund Balances: Resery edfor encumbrances 46,425 $ , 10x570 Unreserved: ' Designated for special projects 7,96.0,959 332,855 Undesignatetl 71,631 , Total Fundlialances 8,007,384 343,425 71,631 Total Liabilities and Fund Balances $ 81108,463 $ 343,425 $ 1,362,990 , r1 LJ 46 1 i 1 1 Community Development Block Grant i 1 $ 77,047 1 $ L�l i 1 1 1 1 1 Ackerman Totals -1 ,IVO,404 Donation 1993 1992 $ ; 15701,350 $ 13,592664 497,016 1,267 645 1;042;167 1;042'167 1,292 351 "' 237,480 ; _582,162 '' 582,162 3;004: 11,432. 1 $ 77,047 1 1 1 1.60,038 285;£ 14L;10[.. .. J'j01`J,OWO .:... - -1 ,IVO,404 47 Fund Balances (deficit), June 30 $ 1,655,265 $ 83,225 $ 2,588,008 , 48 1 CITY OF NEWPORT BEACH Combining Statement of Revenues, Expenditures and Changes in Fund Balances All Special Revenue Funds ' For the Year Ended June 30, 1993 1 Park and State Recreation Library Gas Tax Revenues: Taxes $ 2,952,980 $ 2882,449 Licenses, fees and permits 48,261 , Intergovernmental revenue 72,378 276,752 $,`1,127,006 Charges for services 995,167 65,717 Fines, forfeityras and penalties 141,786 ' Revenue from use of money and property 684;921 2,560. 1137,4117.: Contributions - 3;750 15;711.. Other" 12;281 42;096 Total Revenues 4,769,718 3,227,071 1,264,423 , Expenditures: Current General ;government ; Rubhc safety Community development.' .. _Libranes 3,525,782 Parks, beaches and recreation Capital expenditures 4,576,997 333,147 235,740 698,894, , Debt service Pdncipal. retirement Interest and fiscal charges , , .Total, Expenditures '' 4,910,144 3,761,322 698,694 , Excess of Revenues Over (Under) Expenditures (140,426) (534,451) 585;729 Other Financing SQUrces (Uses):. - Operating transfers in 201;354 *568;598 Operating transfers out Total Other Financing Sources (Uses) 201,354 ! 568;598 of Revenues and iExcess Other Sources Over (Undeo Expenditures and Other Uses 60,928 34,147 565,729 ' Fund Balances, July 1 1,594,337 49,078 2,022,279 Fund Balances (deficit), June 30 $ 1,655,265 $ 83,225 $ 2,588,008 , 48 1 I I Arterial Federal Tide and Highway Adopted Traffic Parking Submerged Financing Forfeiture Safety Meter Land $. "8,23,603 $ 157,550 104;553 116;046':: $ 336,857. $ 2,029,138 29,900 67,362 $ 1,137,893 3;788,247 LII L' 7.;550 366;757 2,096;500 , •, 1,137,693 7777777777777 - 502 934 83 125 986 628,920'. " 2,467 , ' (262,163) 2,086,500 1,137,893- ` (2096,500) (917;833)' 2,467 (53,821) $ (51,354) (262,163) 675,031 $ 412,868 $ 49 220,260 1,744,425 $ 1,964,685 187,927 (14,710) $ 173,217 (Continued) CITY OF NEWPORT BEACH Combining Statement of Revenues, Expenditures and Changes in Fund Balances All Special Revenue Funds (Continued) For the Year Ended June 30, 1993 and erty 169,413 Zl,ut3 ris 216,630 Revenues 446,065 11;8,250 IA;6Cl11 CIIICIIl and fiscal cli'ai Expenditures Other Financing iSQu.r'ces Operating transfers (n; Operating transfers out Total Other Finani Sources (Uses) (uses): Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses Fund Balances, July 1 Fund Balances (deficit), June 30 140,584 (72,223) 7,866,800 415,648 $ 8,007,384 $ 343,425 50 1,01.1 ;' 940,268 71,631 $ 71,631 I u I I I 1 I I G I 1 1 I I 1 1 1 1 f1 i 1 1 i 1 Community Development Totals Block Grant 1993 1992 $ 5,635,409 -'$ b,921,776 984,041 1,063;349 $ 639,706 578 3,408, 5,295,141 1,176,932 1,180;186 2,507;781 3,053,246 6,082,074 5,898;803' 236 091 57,187. : 78;878 '` 639;706 ". 20,606 b93 22,491,377 ..: ,$02;934' 300,623 539,558 439558 ::.: , 400,910 3 32 &782 3,392,502 4 -994 978 : 5208,537.. 3 213 737 72,706, 195,894 `' 200,009 639 558: 13,145;587 15;769,050 148. .' -, 6;920;506 6,722,327 ` _769.952 1;9271002 (6.741,023) (7,383,854) 1 148 1 (148) LM 1 949,435 14,298,919 $ 15,248,354 1,265,475 13,033,444 $ 14,298,919 51 CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Park and Recreation Special Revenue Fund For the Year Ended June 30, 1993 Total Other Financing Fund Balance, July 1 Fund Balance, June 30 1,594,337 1,594,337 $ 2,065,855 $ 1,655,265 (410,590) $ (410,590) r, L I I I 1,510,207 , 1993 1992 ' $ 1,594,337 Variance Favorable Budget Actual (Unfavorable) Actual Revenues: Taxes $ 2,952,960 ; $ 21952,960 $ 3,084,455 Licenses, feesand permits. 250,000 48,26 1 , -', $. (201,739) .: _, 48,261 Intergovernmental revenue. 6,000 72,378 66,378 94,582 Charges for services 1,100,125 9951167 (104,958) 11110,989 Revenue from use of money and property 593,000`. 684,921 91,921 622,561 Contributions''` 228,500 3,750 (224,750)' Other 11,350 12,281 931 20,027 Total Revenues 51141,935 4,769,718 (372,217) 4,980i Expenditures: Current Parks beaches and recreation .4,483,128 ::., 4,578,997 (93,869) 4,870,388 Capital expenditures .388,643 , 333,147 55,496 1,627,021, Sotal Ex enditurES; -.' p 4,871,771 .; 4,91q,144 (38,373) 6,498,209 Total Other Financing Fund Balance, July 1 Fund Balance, June 30 1,594,337 1,594,337 $ 2,065,855 $ 1,655,265 (410,590) $ (410,590) r, L I I I 1,510,207 , (7,127) 1,601,464 ' $ 1,594,337 52 1 �1 1 53 CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Library Special Revenue Fund ' For the Year Ended June 30, 1993 ' 1993 Variance 1992 Favorable Budget Acfuat (Unfavorable) Actual Revenues: Taxes $ 2,711,485 $'2:682,449 :,$ (29,030 $ 2,724,385 Intergovernmental revenue 223 000 ' :276.75 53,752: 286,427 Charges for services 50,000" 65,717 "' 151717 42,651 Fines, forfeitures and penalties 160,000 141 786.. (18;214) x52,575 Revenue from use of money and property 4,500 2,560 (1,940) . Contributions.: 17,800 15,711 (2089) , ' Other, 51,000 42,09f) (8,804) Set 718:. Total Revenues 3 217,785 ' 3,227 071 9,286 3,264 784 Expenditures. Current Libranes 3,483,812 :5,525i782 (41,970) 3i392.5 Capital*xpenditures ., 309,482 235,740 73,742 126 283] .•.:: .. ..... !Total Expenditures. 3793,294 r. 3,761522 ; ?' 31 772. . .3;518 785 „' Excess,of Revenues Over ,,. ' (Under) Expenditures (575,509) : (534',451) 41.058 (254,034) -^ `T- Other Financing Sources (Uses) ' Operating transfers in 642,102 `, 50,648 (73,504) 326,912 Operating trah$fers out: Total other Financing Sources (Uses) 642 102 568,598 (73,504) `' 264,645 ' Excess of Revenues`and Other Sources Over (Under Expenditures and Other Uses 66,593 ` 34,147 (32,448) 10,614 Fund Balance, July 1 49,078 49,078 38,464 Fund Balance, June 30 $ 115,671 $ 83,225 $ (32,446) $ 49,078 �1 1 53 Revenues: Revenue money 1 54 1 CITY OF NEWPORT BEACH ' Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual ' State Gas Tax Special Revenue Fund For the Year Ended June 30, 1993 ' 1 54 1 1993 1992 Variance , Favorable Budget Actual (Unfavorable) Actual ' nmental revenue $ 1,212,500 $ 1,127,006 $ :. (85,494) '':' $ 1,150,428 , from "use. of and property 63;000 137,417 74,417 152;115 Revenues ' 1,275,500 1,264,423. (11,077) 1,302;543;: , penditures 2,780,251 698,894: 2,081,557 1;;079,317 ss of Revenues Over ' nder) Expenditures (1,504,751) 565,729: 2,070,480 223;228 e, July 1 2.M.279% 2,022,279, 1,799,053 ' e :June 30 $ 517;528 $ 2,588,008 _ $ 2,070 483 $ 2 022,279 ' _ -- ir 1 54 1 [1 1 1 fJ 1 CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Arterial Highway Financing Special Revenue Fund For the Year Ended June 30, 1993 nditures 210;600' 155,083 55,517 of Revenues Over 55 1992 Actual 464,636 ' ' Revenues: Intergov Expenditur Capital 4 [1 1 1 fJ 1 CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Arterial Highway Financing Special Revenue Fund For the Year Ended June 30, 1993 nditures 210;600' 155,083 55,517 of Revenues Over 55 1992 Actual 464,636 ' 1 56 1 CITY OF NEWPORT BEACH ' Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual ' Traffic Safety Special Revenue Fund For the Year Ended June 30, 1993 , 1 56 1 1993 1992 Variance ' Favorable Budget Actual (Unfavorable) Actual ' Revenues: Fines, forfeitures and penalties $ 2,725;000 $ _ 2,029,138 $ (695,862) '; $ 2,358,305 Revenue from use of ' money and property 110,000 67,362 (42,638) 102,965 Total Revenues 2,835,000 2,096,500 ,..:(738,500) 2,461;270 ' Other Financing Uses: Operating transfers out (2,096,500) (2,096,500) (2,461,270) ],11,11 ' Excess of Revenues.. Over Other Uses:. 738,500 (738,500) Fund Balance, July 1 , Fund,.Balance, June:30I 738,500, $ - $ (738,500) $ 1 56 1 Revenues: Revenue from money and, Other CITY OF NEWPORT BEACH Statement nf Revenues, Expenditures and Changes in Fund Balance Budget and Actual Parking Meter Special Revenue Fund For the Year Ended June 3Q.1Q93 Actual riout (917,631) ----- avenues 0 as 57 CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Tide and Submerged Land Special Revenue Fund For the Year Ended June 30, 1993 Other arement 72,706 (72,706) i.;fiscal charges 195,894 (195,894) cpenditures 1,431;884 920,444 511,440 893,117; of Revenues: Expenditures 3,463,016 3,914,817,: 451,801 I Uses: insfers out (3,726,890) (3,726,890) Total Other °i^ Sources ancang Excess of Revenues Ov (Under) Expenditures and Other Uses Fund Balance, July 1 Fund Balance, June 30 (14,710) (14,710) $ (278,584) $ 173,217 $ 451,801 $ W 62,157 (14,710) I 1 h �J 1 1 I 1993 1992 Variance Favorable Budget Actual (Unfavorable) Actual Revenues: Licenses, fees and permits $ 918,150 $ 823,603 $ ..(94,547) : $ - 1,015,088 Intergovernmental revenue 110,000 104,553. (5;447) ';' 99,466 Charges for services 20,000 11 16,048 96,048:- 26,546 Revenue-from. use of money and property 3,844,250 3,788,247 (56,003) 3,640,198 Other 2;500 2,810 310 138 Total Revenues 4,894,900 4,835,261:. (59,639) 4,781,431, Other arement 72,706 (72,706) i.;fiscal charges 195,894 (195,894) cpenditures 1,431;884 920,444 511,440 893,117; of Revenues: Expenditures 3,463,016 3,914,817,: 451,801 I Uses: insfers out (3,726,890) (3,726,890) Total Other °i^ Sources ancang Excess of Revenues Ov (Under) Expenditures and Other Uses Fund Balance, July 1 Fund Balance, June 30 (14,710) (14,710) $ (278,584) $ 173,217 $ 451,801 $ W 62,157 (14,710) I 1 h �J 1 1 I I Revenues: Revenue money CI CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Contributions Special Revenue Fund For the Year Ended June 30, 1993 1 June 30 59 1992 Actual $ 2,797,840 227,014 $ 7 1993 Variance Favorable Budget Actual (Unfavorable) iental revenue $ 1".5: PtOo $ ;59,962 $ (1 4400.* T1. use of. _ i property 1.0,473 169,473 216,630 %: 2116,630 avenues 1,500,000 446,085 (1,053,935); nditures .._..; ., 1483,194 305;481 1,177,773 1 June 30 59 1992 Actual $ 2,797,840 227,014 $ 7 CITY OF NEWPORT BEACH ' Statement of Revenues, Expenditures and Changes in Fund Balance ' Budget and Actual Building Excise Tax Special Revenue Fund For the Year Ended June 30, 1993 ' 1 60 1 1993 1992 Variance ' Favorable Budget Actual (Unfavorable) Actual , Revenues: License, fees and permits $ 175,000 $ 92;777 $ :(82,823).... 112,936 Revenue from use of ' money and property 40,000 21,073 (18,927). 35,899 Total Revenues 215,000 „ 113,250 (101,750) 148;835 , Expenditures Capital expenditures 80,759 185,473 (104,714) 185,483 ' Excess of Revenues Over (Under) Expenditures 134,241 (72,223) (208,464) (36,648) ' Funtl balance, July 11 415,648 415,648 452,296 ' Fund Balance, June 3Q' $'549,889 $ 343,425, $ (206,464) $' "415,648 s _ 1 60 1 I I I I I I I I I I CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes In Fund Balance Budget and Actual Combined Transportation Fund For the Year Ended June 30, 1993 revenue :$-.;-ii1,63i7'0'00':- $ 968,671 71 %'(664,324) 0 MoMy!:: Revenues of Balance, t z 43,228 63,79.0900 1,011,899 _(6251101) !,010,830 9, O,26. 8 ,.,11;670,562ie 71,631 ' 1,045,461 Revenues: Intergov Revenu and pi 6t .-T Expeh , ditui Capital I (Uh I I I I I I I I I I CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes In Fund Balance Budget and Actual Combined Transportation Fund For the Year Ended June 30, 1993 revenue :$-.;-ii1,63i7'0'00':- $ 968,671 71 %'(664,324) 0 MoMy!:: Revenues of Balance, t z 43,228 63,79.0900 1,011,899 _(6251101) !,010,830 9, O,26. 8 ,.,11;670,562ie 71,631 ' 1,045,461 61 1992 Actual I n 62 1 CITY OF NEWPORT BEACH ' Statement of Revenues, Expenditures and Changes In Fund Balance Budget and Actual Community Development Block Grant Special Revenue Fund For the Year Ended June 30, 1993 , I n 62 1 1993 1992 Variance ' ;Favorable Budget Actual (Unfavorable) Actual Revenues: Intergovernmental revenue $ 469,000 $ 639,706 ,_ $ 170,706 `$ 401,762 , Expenditures: Current Community development 524,492 639,558 - (115,066) 400,910 Excess of Revenues Over (Under) Expenditures . (55,492) 148 55,640 852 Fund Balance, July 1 (1.48} (1,000) Fund: Balance, June 30 $ (55,640) $ $ 35,840 $ (148) I n 62 1 § qA � u> py6 s� a l� F Y b� 4 "KKK fr y��a tgtix N *E FF u.�s"p 5 f z • 5ie � �k- "y t£� fi d y xrph°,'S sZ { dt �t Afgg� �� L �2ryi Eald3 �a` R�s2• � &5 v °nad e 4 k �axlq k' i n11v6'��,,ga; v +w a m5 • �� m �� <• r f s- CAPITAL PROJECTS FUNDS Capital Projects Funds are used to account for resources used for the acquisition and construc- tion of capital facilities by the City, except those financed by Enterprise Funds. City of Newport Beach Capital Projects funds are as follows: I I I i I i LJ I i J I� I 11 I 1 63 i 11 I 64 1 1 CITY OF NEWPORT BEACH Combining Balance Sheet All Capital Projects Funds June 30, 1993 Central Capital Assessment Library Assets Improvement District Construction Cash and investments $ 1,100,000 $ i;41254,526 $ 1,446,638 Restricted assets -cash and-i nVestments 3,093,310 Total Assets'; $ 1,10,0oo 254,526 $: 4*539,948 Liabilities :and ;Fu'nd Balance Liabilities, Accounts! payable -and accrued liabilities 603,669:1­1't D0,16:other funds. 1108,032 Total Liabilities i�i:!-'.:: 11,1198,0 32 :693,669 �Und.. Balance - ,Reserved for debUservicei :q, ...... . to 56,494 0:.: preserve it. 6. 6sig6ated for special e0#@rpjqi­ts . .. .... 10, 3,846,270 Ufireserved,'vn&sf: ... ... ..... ip it, Total:Fund Balance 1,100,000!' 3,849;279, Tbta1 Liabilities and Fund Balance -i'-' 1,100;000 $ 1,254;526° $ 4,539,949' i 11 I 64 1 1 I I i i Totals 1993 1992 $ 3,601,164 $ 3,093,310 r$ $ 118;316 r I =i $ r 65 Revenues: Intergovernmental Revenue from use Contributions Other Total Fund Fund (Under) Sources 1 CITY OF NEWPORT BEACH Combining Statement of Revenues, Expenditures and Changes in Fund Balances All Capital Projects Funds For the Year Ended June 30, 1993 Ez I 11 I i i H I i Central Capital Assessment Library Improvemen! . District Construction $ 181,647 Honey and properly 61,168 $: 1.1.1,497 . 360,000 111,497 6030,15 697,978 3;803,053.1 les Over ddues (5$6,481) (3,200;038). (Uses): *.n "debt 708,441 fixed assets.:.. rg Sources (Uses) 708,441 jes and Over (Under) nd'Other Uses 121,960 (3,200;038);: $ 1 (00,000 $ (65,466) $ 7,046,317 $ 1;'100i'000 i : 58 494 $ 3,846,279 Ez I 11 I i i H I i I I I Ii I I 1 67 Totals 1993 1992 $ 181,847 61,168 39,621 111,497 1,209,158 360,000 '1,000 000 714,5-12 2,248 779 4501031 516312 (3 786 519) 1 732 467 (53;563) I 708 441 6,232,399 70$,441 7278 836 pi— (3,078078) 9,01`t,303 $ 8,080,85t.' $ (930,452) $ 5,002 773 $ 8,080 851 Ii I I 1 67 Revenues: Contributions Expenditures: Capital exp of Reve CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Assessment District Capital Projects Fund For the Year Ended June 30, 1993 transfers in of 1992 Actual i711,4a1 iii 4VV $ : 602;546 :' 897;978` ° - (95,432) 1.1 466,815 561,968 L•Yei I I I J I .s i i :I I 11 11 Revenues: IntergovE Revenue Fund Fund CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Central Library Construction Capital Projects Fund For the Year Ended June 30, 1993 1993 Variance -Favorable Budget Actual ;,(Unfavorable) ent.al, 81,847 181 84.7 l- z- n. use of money and property 61,168.:- 360,000 360,000 ;Hues 603,015 603,015 iditure s 3,003,053 4,267,047 of Revenues.' Expenditures (8,071,000) (3,200,038) 4.87 ,. July I 7,046,317 June 30 :�3,446,279:,::. 4 I $ 7 1992 Actual 39,621 81 7 70 A 11 I i 1-1 I J I I I z I I i I I I 11 I tl 21$" a a� 10 e�ka'a e r s?y # o ENTERPRISE FUNDS I 1. I I I i I I I I j I I I i 1. 1 I LJ I I a I I I [1 I I I 1 I L 1 71 1 72 1 CITY OF NEWPORT BEACH Combining Balance Sheet All Enterprise Funds June 30, 1993 1 72 1 Cannery Village Assets Parking Water Wastewater Current Assets: Cash and investments $ 1:3,02.3.,786 $ 565,325 Accounts receivable and accrued revenues.. 2,315,462 343,234 Inventory of materials and supplies,. at cost : 68,633 Restricted assets. -,cash and investments $ 95,337 Other assets ' 90 Total Current Assets 95,337 15,410,571 908' Fixed Assets: Land' Structures 1,039,163 107,471 ':, 2,016,450 33,y25,085 30,595,314 ;•: Equipment 1,1:68,785 "- 71'1:,690 ACcrmulated depreciation: (20,299)- (20;282,158) (20,595748) is Net Fixed .Assets li. .:. 1,126,335 16,328;162 10,71'1',256 . , Total Assets' ', - : $ 4221,672 $ 31,738,733 $. 11,619,815 Llabilities.andl Fund Equity Current lial)rlities: Accounts payaole and accrued liabilities $ .. 21 148 .4. , 82? 450 $ 34,271 Accned payroll 76.365 24,358 Duerto other funds 905,383. , is Deferrtt revenue 7 Deposits . 120,107 Total Current Liabilities 926 531 '` 1,023,g 20 58,829 Fund Equity: Contributed capital 4,6p5 144 9,030,895 Retained Earnings Unreserved 285141 '26,109,660 2,530,291 Total Fund Equity 295,141 30,714,804 11,561,186 Total Liabilities and Fund Equity $ 1,221,672 $ 31,738,733 $ 11,619,815 1 72 1 1 1 1 ' Marinapark Total t $ 13,589 $ 40,806 2,899 1 1 1 1 1 15,000 42,586,131 $ 146,136 $ 44,726,356 73 Operating Revenues: Charges for services Other Total Operating CITY OF NEWPORT BEACH Combining Statement of Revenues. Expenses and Changes in Retained Earnings All Enterprise Funds For the Year Ended June 30, 1993 :Water Wastewater $ 10,738651'` .: $: 1,809,888 42,384 ,15,031 10;780,435 1,824,919 1 1 1 L: u tn3es: water 5,587,254 wages 1;856,705' 636,438 lion '' 4,299 768;546: 737,576 maf services $ 295,141 830,349 139052 nice and supplies:.. 287,567 ,° "- 80,326 maintenance:,. 58,383 7,621 5 ;41a 911,308• al Operating Expenses 9,717' 10,300,112 1,601,013 rating Income .;"•" 83,374 480,323 223,906 ng Revenues (Expenses) eitlmental revenue 39; 503 ' 13,073 ncome 11,961 735,753 62,249 ome 171323 " 4840 expense (15,925) .: aMonoperating Retained Earnings, July 1, as restated 198,408 24,849,241 2,231,063 Retained Earnings, June 30 $ 295,141 $ 26,109,660 $ 2,530,291 1 1 Marinaparic 1 $ 584,453 $ I 11 I I 584,453 (516,339) 17,692 (17,692) Total 1,674,072 27,261,020 I$ 28,935,092 11 75 u 20;048 28,238 534,031 (516,339) 17,692 (17,692) Total 1,674,072 27,261,020 I$ 28,935,092 11 75 CITY OF NEWPORT BEACH Combining Statement of Cash Flows - All Enterprise Funds For the Year Ended June 30, 1993 Cannery Village Parking Cash Rows from operating activities Water Wastewater I Operating income (loss) $ 83,374 $ 480,323 $ Adjustments to reconcile operating Income to net cash provided by operating activities: Depreciation 4;299 768,546 737,576 Changes in operatingassets and liabilities: (Increase) decrease in accounts receivable (498,360) : (102,173) (Increase) decrease in due from other funds _ 10,804 (Increase) decrease in inventories of materials and supplies at cost 3,720 (Increase) decrease in other assets (1,066) 198 Increase,(decrease) in:accourds payable 1 _ 70 433_ 26;342 tiorease (decrease) in accrued payroll 5544 1,;081 Increase (decrease) in due to other funds; 143;967 (t0,804) Increase (decrease) m,deposits . (13'876) Total Adjustments ' 148,267 345,745 652,22q'!' Nei : cashprovlded ;byoperatingactivipes 231;641 826;068 $76;126.1: Net m noncapifa(financng:acUViGes: 223,906 Cash flows from investing Interest on investments Net increase (decrease) and cash equivalents Cash and cash equivalents, July 1 Cash and cash equivalents, June 30 Supplemental Disclosure Contributed Capital 11,961 735,753 s7 (37,570) 76 I I [_1 123) 1 16,123) .1 62,249 I 565,325 13,061,356 $ - $ 13,023,786 $ 565,325 $ - $ 51,900 $ 93,105 I I I I I I I I 1 8,190 527,755 13,061,356 Madnapark Total $ $ 505,793 $ 1,293,396 t9,877 1:,§20; 298 (699) (601232) s 1 Q 804. 3,720i. i5 (853) .: 96,"4 lit it 6:625 itt 06,382ji 106 781 (13,876) 17, 1 2%540:. ; 488101' .= 2421936 `; °' 20;048 42,211'. ; (516 339) (5t5 339) I I 1 8,190 1 77 527,755 13,061,356 $ $ 13,589,111 $ $ 145,005 1 77 11 I 78 i �z so I FIDUCIARY FUND TYPES Fiduciary Funds are comprised of Trust and Agency funds. They are used to account for assets . held by the City in a trustee capacity, or as an agent for other government entities, private orga- nizations; or individuals. Newport Beach Trust and Agency Funds are listed below: q The Deferred Compensation Fund is used'to track the assets of the City's deferred compensation plan for its employ - , ees. The Special Assessment Fund is used to account for Funds received from affected property owners.and payable to holders of 1911 and'1915 Act bonds. The Special lkpbsits Fund is used to account for special deposits held by'the City in its fiduciary capacity. . h Y" a _ _i 11 1 1 1 1 11 1 1 1 1 1 1 1 1 1 1 1 79 CITY OF NEWPORT BEACH Combining Balance Sheet All Agency Funds June 30, 1993 $ 704 hers 247 compensation $1 18,765,395 es $ 16,765,395 $ 268,286 $' 704,247 .: 80 11 1 1 1 E 1 1 1 1 1 I 1 11 1 1 1 1 Deferred S Special S Special Compensation A Assessment D Deposit Fund F Fund:. F Fund Assets: Cash and investments $ $ 16,765;395 $ $ 200,286; $ $ 704,247 Total Assets. $ $ 18;785;395 $ $ 268288 $ $ . 704,247 Liabilities: Due to bondholders $ $ 268,286 Due to P : ro pert , owners .,.. s _. $ hers 247 compensation $1 18,765,395 es $ 16,765,395 $ 268,286 $' 704,247 .: 80 11 1 1 1 E 1 1 1 1 1 I 1 11 1 1 1 1 80 11 1 1 1 E 1 1 1 1 1 I 1 11 1 1 1 1 I I I 1 1993 Totals I I F L. I I I I FI I F I 1992 $ 17,737,928 $ 14,539,925 17,737,928 14,539.925*i 268-;2" 4q, 209.845 113,973 704 247 187 16, 765 395: -7 : 14 9 ,925 $ 1V,37 ; ,,,928 81 1 — CITY OF NEWPORT BEACH Combining Statement of Changes in Assets and Liabilities All Agency Funds For the Year Ended June 30, 1993 Balance June 30, 1992 Additions 1 Balance , Deductions June 30, 1993 Deferred Compensation: $ :., 209,845 $ :373,719 $ (3151278)' $ 268,286 Due to property owners 113, Assets : (113,973) Due to others 187 125 .:` 2;109,416; ` (1,592,294) Cash and investments $ 14,028,982 14,028,982 $ 3,476,584;; $ (740,171) $ 16,765,395 Liabilities $ (2,761,716) $ 17,737,928 Defened compensation $ 14;028,982 ' ; '.$ 3;476,584 $: (740,171) ? .. $,16,765,395 Special Assessments: Assets. Cash.andinvestments $. 323,816 $ 373,719: $ (429,251) $ 268;286:, Liabilities :900,4o bondholders $ . . 209,845.. $ 373,719 .. .$ (315,278) $_ 268,288 • Due to property owners':. 1131973` (1'13,973) Total Liabilities $ 323,818 .' $ 3731719: $ '(429,251) $ 268,286 Special Deposits: Assets Cash and.nvestments.., , $ 187,125 .:,: $ .2'109,416,. $ (1,592,294) $ ` 704,24; 7 ,'• $:14,539,925., $- 5,9591719 $,(2,761,716) $ 17,737,928 Liabilities Due to bondholders $ :., 209,845 $ :373,719 $ (3151278)' $ 268,286 Due to property owners 113, : (113,973) Due to others 187 125 .:` 2;109,416; ` (1,592,294) 704,247 Deferred compensation 14,028,982 3,476,584 (740,171) 16,765,395 Total Liabilities $ 14,539,925 $ 5,959,719 $ (2,761,716) $ 17,737,928 82 1 1 1 [l 1 i i i i� Detail U.S.G.S. quad sheet — Newport Beach Area i µP M1 •i�i��m Newport Beach ��' ,r s �T n 5N y Detail U.S.G.S. quad sheet — Newport Beach Area I ACCOUNT GROUPS 1 The General Fixed Assets Account Group was established to account for the cost of fixed assets of the City that are used in the perforinance of general government functions which are not accounted for in the Enterprise Funds of the, City. The General Long Term DebtAccount Group was estsbhshed 6 account foc the.uumatured long term indebtedness of the City to be paid from future general revenues ` R G a 1 aa. Y $ X aw Yq Y I 11 V IGeneral Fixed Assets CITY OF NEWPORT BEACH Comparative Schedule of General Fixed Assets By Source June 30, 1993 1993 1992 I - I I I I I information f . or.. presentatio . n in its Compre Report for the inq June 30,1994. 1 83 — $ 21,615,566 32,425,099 8,377,735 71 71,457 Land Structures 36,579,9.' Equipment 9,21floj2C Automotive 9 Tota0d ine: ral Fixed Assets $ 79,048,94 Investment in General Fixed Assets 7otal.investrTient. in FiXed.Assets $ 79 040, 94 ... ..... . ... ..... ....... . .... . ..... . . ..... ........ ... .. ... ... . . . ............. . . . . .. . ... . . . . .. .. . . . .. . ...... . . ........ . .............. . . . . ... .. . . ....... .. . . .... ... . . .. . . .. ... .... . . . . . - .... . . . . ..... . ........ . . .. . . ......... ......... . . . . . . .. ..... ........ . .. ... . ... . ..... . ...... . . . . . . .. . . ...... . . ... ...... ... . ... ........ .. .... . . ...... . ....... . ...... Up, . . ... .. . ... I - I I I I I information f . or.. presentatio . n in its Compre Report for the inq June 30,1994. 1 83 — $ 21,615,566 32,425,099 8,377,735 71 71,457 m I L� 11 I I F 11 I I 1 r I I I I I I CITY OF NEWPORT BEACH General Long -Term Debt Account Group Comparative Schedule of General Long-Term Debt June 30, 1993 1993 Amount Available and to be Provided for the Payment of General Long-Term Debt..,, 1 Amount available in debt Amount to be provided fa of general long -term di I I I I I I I $ 8! 10,91 1992 ,602 663060 050,598 : 3,192,180 3,264,886 . j 470 ...... . IQ 865,90 11,825 240 - $12,580;484 1 85 — M 11 1 I 1 1 i n 1 [l 1 1 n 1 1 1 I I I F, u I I 1 11 I STATISTICAL SECTION I 87 I CITY OF NEWPORT BEACH Miscellaneous Statistics June 30, 1993 General Information: Dateof Incorportation ............................................................................................................... 1906 Form of Government ................. ......................................................................... Council-Manager Population: Permanent ..................... ....................... . ..... ............................. 68,074 Summer.................... ...... . . .... ... . . ........... Tourist ............ ......... ........... la.: ................... 100,000 ....... 20'Q '000 00 per day Housing units.. ...... .. t* ..... Ell ............ . Occupancy Factor per -d ...... welling 'unit ....... ............. ... - 15,093 ...... ......... .......... .....1.95 Area: Square Miles Land l 14 01 Acres ,024.0 E: Bay. 4li 2.04 05:6 oce*:"' 0.00 Tat' -36705--;.1: �6 23.129� i: _ In Population Density 4,885 3 y. 7h:l i�Recreafional ........ ........... Ocean Water:.. t .. ........ ........ ........ .......................... ......... .................. .................... ­..;.:h,12,800I Harbor Waters .. 1. %Parks ........ ....... ....... 11;300 ......... 135' es .......... ....... 224; Total ............. P5 ....... 14,46". $ : Water Frontage .................... Miles' 0ce_an-.-.-,,i ........................ ........ ............. 7 2i Hazlior . . . .......................... :,.. ............................ Total Water .Frontage.; ............. ... ................................ ......... .............. Newport Harbor: Boats .............. ....... .......... .............. ........... .... ........... Residential..... ....... .. .... .1 . Commercial Slips and ........... ............. .............................. 4L. .............. .. . ....... 9,000 .............. ............ 1,230 .................. 2,119 Bay Moorings ...... ........... r ........... ... �; ,..`s::.. ..........................1,221 Public Safety Police Fire Marine Number of Stations 1 6 1 Number of Personnel 271 110 55 I 87 I General Governmental Revenues by Source (1) (Last Ten Fiscal Years) 1983 -1984 $ 22,114,665 1984 -1985 25,585,877 1985 -1986 28,685,016 1986 -1987 31,663,304 1987 -1988 34,076,11.9 1988 -1989 37,245,2i9 1989 -1990 38,389,789 1990 -1991 .40.479.235 1991 1992.1 (1) 1983 -1984 1984 -1985 1985 -1986 1986 -1987 1987 -1988 1988 -1989 1989 -1990 1990 -1991 1991 -1992 1992 -1993 ,775 Genera]: 5,1 5,248,695 5,365,259 5,274,572 2,937,016 4,359,857 $ 2,181,509 $ 2,665,866 $ 2,3321042 $ 2,409,329 $ 6,452,149 $ 1,904,167 $ 40,059,727 ' 2,031,715 4,303,410 ' 2,733;503 ` 2541,878 :' 6,382,834 2,349,901 45,929,118 2,185,936 10,915,059 . 3,100,630. Fines, 6,6611032 Licence, Inter- Charges Forfeitures Revenue from Fiscal Fees and governmental for and ' Use of Money Year Taxes Permits Revenue Services Penalties and Property Other Total 1983 -1984 $ 22,114,665 1984 -1985 25,585,877 1985 -1986 28,685,016 1986 -1987 31,663,304 1987 -1988 34,076,11.9 1988 -1989 37,245,2i9 1989 -1990 38,389,789 1990 -1991 .40.479.235 1991 1992.1 (1) 1983 -1984 1984 -1985 1985 -1986 1986 -1987 1987 -1988 1988 -1989 1989 -1990 1990 -1991 1991 -1992 1992 -1993 ,775 Genera]: 5,1 5,248,695 5,365,259 5,274,572 2,937,016 4,359,857 $ 2,181,509 $ 2,665,866 $ 2,3321042 $ 2,409,329 $ 6,452,149 $ 1,904,167 $ 40,059,727 ' 2,031,715 4,303,410 ' 2,733;503 ` 2541,878 :' 6,382,834 2,349,901 45,929,118 2,185,936 10,915,059 . 3,100,630. .3,039,221 6,6611032 2,631,416 57,818,310 2,387,411 .7- ,132,740, 3,963,061. 2,372,335 - 6,907,803..5,298,061 10,249,933 59,724,715 2,294,447 8,157,975 -. 4,266,091 -- 2,881,443 -' 7,528,267 '.5,053,836 64,258,178 2,517,205 ': -` 6,858,019 - : -- 4,821,564 -- 2,964,864 8,391,781 3,649,089:. 66,447,801 2,653,730 :.16,537,544 _' 4;899,970 3,376,570 .. 9,766,006 2441,088, 78,064,697 2,808,179 11.029,004 s 3,466,023 3,114;983 :9;999,416 3555,699.1 -; .:74,452,539 1.1 1,903,044 16,819,561 ` 4,609;812 3,053,246 .9,611,524 2,722,037 734185,456 1,795i238-.: 7,621;6431 4,703,200 2,592,969. 9,469,060. 1;243;093 65,886,978 J Revenue; Debt Service and Capital Projects Funds a1:Giivernmental Expenditures by Function (1) (Last Ten Fiscal Years) Parks, Public. Community Beaches, & Capital' $ 18,809,480. $ 6,883,14211::'; !;, :? $ 1,502,294 $ 2,448,264 $ 8,003,393 14V 384,030 21,185,295 - -- 7,171,611' -; -1- ;691;931 "'2,812,467 10,249,933 :' ,47,291,131 21337,158 - '7;468,089 $2,127,784 - -(2) 1,772;640 2,622,088;.. :, 11,971,392 -- x'52,035,626 20,371,613,€ 13,668,069 .: ` -- 447,248 -: 1,976,881 ".3,049,442 12522,935' 57,224,595 :21,845,493._. 13043,460 - ,..450,234: 2;136,249 3,i078,055 - :16657;535 62,109,438 22,014,671 13,870397 :: 1,603-;571 2,597;300 3,399035 11,175,926 59,909,595 26,729452 15,804,705 185,924 2,819,616 .3,790101 23,611,143 78,306,200 26,911,630 17247313 -' 183,327' 3,Ob1,009 : 4,222,291 18,768,787 75,668,929 30,987,412 12,372,598 3 411,623'` 3,392,502 5,477,137 16,034,084 74,612,372 31,209,589 12,779,215 3,636,092 3,525,782 4,994,976 12,220,226 72,725,737 (1) Includes General, Special Revenue, and Capital Projects Funds. Debt Service expenditures are not included as part of this Schedule. (2) No Community Development Block Grant funds were received by the City prior to fiscal year 1985 -86. Source: City Finance Department L. L� 1 I 11 1 i J [1 I $80 $70 p $60 9 $s0 t � $40 $30 $20 $10 $ 0 1983 -84 1984 -85 1985 - 861986. 871987 -88 1 988. 89 1989 - 901990 -91 1991- 921992.93 General Government Revenues by Source (Fiscal fear 1992-93) 14% 4 17% Governmental Expenditures /Revenues (Last Ten Fiscal Years) 0Taxes S Licenses & Permits 0Intergovernmental 0 Charges for Services ® Fines & Forfeitures ® Use of Money & Property Miscellaneous 12% 3% General Government Expenditures by Function (Fiscal Year 1992-93) 5% 19% EGeneral Government N Public Safety N Public Worsts 13 Community Development E Llbrarles E Culture a Recreation E Capital Expenditures 90 ' Secured Property Tax Levies and Collections ' (Last Ten Fiscal Years) ' Asssessed and Estimated Actual Value of Taxable Property Total Total Percent. Delinquent (Last Ten Fiscal Years) 40 of Total Tax ' Fiscal ": Current t Current of Levy. . : Tax Total ' Fiscal Secured Public Unsecured Assessed & Estimated '!: Collected Year Valuation Utility Valuation Valuation ' 1983 -1984 $ 5,165,387,560 $ 67,215,880 $ 540,974,823 $ 5,773,578,263 ii02.58% 1984-1985 6,095,601,115 68,160,450 594,036,653 6,757,798,218 392,904 -' 1985 -1986 6,600,799,830 72,892,420 -. 691,688,711 7,365,380,961 =;.: 12,189;094 1986 -1987 7 090,960 057 78;565,100 649,193,026, 7,818,718,183 1986 -1987 1987 -1988, 7,710,1141,525; 80;391,430 -839!685,023;, 8,630,217,978 , 1988 -1989 8,357,952,682 `;575,220 (1) 688,645,933. 9,047,173,835 493 507 1989 -1990 8,992,749,635 575,220 .(1) 77t,046,663 9,764,371,518 , 19901991 10,013,611;946 57$,220, (1) 894,916,739 " 10,909,103,905 1989 -1990 1991 -1992 10,385,400,896 354,820 (1) 990,044,079 11,375 799,795 , 1992 -1993, 10,8.76,014,710 354,820, (1) 866,157,889 1,1,742,517;419 433,571 (1) Effective FY 1988 -89, public utility values'have decreased due to AB2890 and AB454 transferring the , publioutlkity values ,to a county =wide tax rate area; „ 21,516,647 21,255,177 98.7840 504,000 21,759,177 101.13% , 1992 -1993 18,859,889 90 ' Secured Property Tax Levies and Collections ' (Last Ten Fiscal Years) ' Total Total Percent. Delinquent 40 of Total Tax ' Fiscal ": Current t Current of Levy. . : Tax Total . _ r Collections Yea, Levy Collections - '!: Collected Collections Collections TotaT'l evy , 1983 1984 $::. 9,744,840 $ -_ -' 9,586,308 98.37% $ 409,694 $ 9,996,002 ii02.58% 1984 -1985: ,11,544,979 10,815,544 93.6890 392,904 -' 11,208,448 97.09% ' 1985 -1986 12,978,040 =;.: 12,189;094 93.92% ;:,364,658 _ 12,553,752, 1986 -1987 14,395,151 ';_. 13,783,508 ' „ 95.75% "'' 465,780 '.; , 14,249,2$8 98.99% ' 1987 -1988 15,942,564 15,311,519. 96.04% 493 507 151805,026 99.14% 1988 -1989 17,308 591 16,67089. ! 96.36 0/.. 432,523 !: 11,111,212 18,512,238 98.86% 97.63% ' 1989 -1990 18,962,055 18,119,326 95.56% 392,912 1990 -1991 21,031,117 19863098, 94.45% 433,571 20,296,669 96.51% 1991 -1992 21,516,647 21,255,177 98.7840 504,000 21,759,177 101.13% , 1992 -1993 18,859,889 (1) 18,508,590 98.14% 536,760 19,396,649 102.85% (1) Effective 1992 -1993, Orange County reduced Secured Property Tax Levy as a result of the State Budget 1 Process. Source: County of Orange Auditor - Controllers Office ' 90 ' 1 1 Total Assessed Valuation / Property Tax Collections I (Last Ten Fiscal Years) 12,000 10,000 e 9,000 0 O y 6,000 w a a 0 4,000 S � z.aoa 0 25,000 ao,oao 0 15,000 d 10,000 s V F S,DDO 0 1983 -84 1984 -85 1985 -86 1986.87 1987 -88 1988 -89 1989.90 1990 -91 1991 -92 1992 -93 Total Property Tax Collections / Delinquencies (Last Ten Fiscal Years) 25,000 20,000 g 0 0 a e m 15,000 g A °0 10,000 c U K H e 5,000 0 d 1983 -84 1984 -85 1985 -86 086 -87 1987 -88 1988 -89 1989 -90 1990.91 1991 -92 1992.93 91 6,000 5,000 5 9 4,000 a 3,000 2,000 e t 3 U a 0 A 1,000 0 Source: The Findlay Reports on California Financial Insitutions 1 92 I , Construction Activity (Last Ten Fiscal Years) Fiscal Building Permits Percentage Estimated Percentage Year Issued Change Valuation Change , 1983 -1984 6,711 28.46% $ 93,270,502 32.90% 1984 -1985 7,050 5.05% 186,359,481 99.81% ' 1985 -1986 8,263 17121% 178;8.46,581 -4.03% 1986 -1987 9,859 19.32% 180,434,990 0.89% 1987 -1988 9,337i 120,512,114 - 33.21% , 1988 -1989 9,228 1.17% 194 655,287 61.5290 1989 118,087,775 39.33% ' -1990 8,800 -4.64% , 1990 -1991 7,600 13.64% 110,500,000 -6.43% 1991 -1992 7,268 -4,37% 77,413,996- 29.94% ' 1992 - 1943 ," =7 251 -0.23% 72;170,274 -7.27%, Source. Cny Building and Planning Department. ' ' Bank Deposits (Last Ten Fiscal Years) `..(thousands) . Calendar Year .:;;, Bank Deposits %it 1383 $1,770,228 toit „ 1984 2,045;230 I48i 3,480,426 , 1986 Ti. 702;801: . 1987 6,O1 1,254 , 1988 61529,897 1989 6 631,511 . 1990 6,9711424 1991 1992„ 4,331,692 4,359,047 ' ' 1993 data for tiank depositsdl not beavadable iinnl 12 -31 -93 , Source: The Findlay Reports on California Financial Insitutions 1 92 I Estimated Value of Construction Number of Building Permits 200 180 .4 10� . .... .. ... 9,000 160 8,000 140 7,000 0 120 6,000 100 t, n� nIn-I 5,000 e 80 4,000 z OU 3,000 40 2,000 20 1,000 0 1983-84 1984-85 1985-86 1986-87 1987-88 1988-89 1989-90 1990-91 1991-92 1992.93 Bank Deposits (Millions of Dollars) 7,000 6,000 5,0()() 4,000 3,000 2,000 1,000 ll 1983 a. 1984 19851 198(1 1987 1988 1989 1990 1991 1992 93 .4 4. 1984 19851 198(1 1987 1988 1989 1990 1991 1992 93 Property Tax Rates -- Direct and Overlapping Governments (Per $100 of Assessed Value) ' (Last Ten Fiscal Years) L� Fiscal School County County Flood County, City Metro Water Year Districts Improvement Control & School Levy District Total ' 1983 -1984 $ 0.02133 $ 0,00039,_13 .' 0.00210 $ -1.00000 :_ $ 0.02370 $ 1.04752 1984 -1985 0.01938, 0.00032 0.00177 1.00006 0.01560 1.03707 ' 1985 -1986 0.01434 0.00030 0.00163 1.00000. Q01640 1.03267 1986.1987 401186 0.00027 0.00142 100000 0.01480 1.02835 ' 1987 -1988 0.00916 0.00022 0.00117 1.00000 :; .0.01120: !, 1.02175 1988 -1989 0.00852 0.00022 0.00111 1.00000 0.01100 1,02085 ' 1989-1999:,:,. 0.00826 0.00017 0.00093 1.00000 0.01210. 1.02146 1990-11_991 0.00252 0.00016 0.00082 1.00000 0.00970 1,0020 1991:4992 0 00231 0.00012 0.00063 1.00000 `. 0.00744 1.01050 1992 4993 0-0023% 0.000.13- 0.00065 1.00000 0.01171 1.014918". 'Sotace County of Orange Auct',tor- Controllefs Office Computation of Legal Debt Margin ' June 30;:1993 To U ill.assessed value of all real &personal property $11,742,517A10', (1) Deb[ lttmtpercentage - T590 Total debt limit $1,701,377,613 Amount of debt apphcable.to debt limit $7,500,000 Legal debt margin.:,-*::, $1,753, 877,613 ' (1) The fiscal year 1993 debt limit is base on assessed value being equivalent to 100% of market value. Source: City Finance Department 94 1 1 CITY OF NEWPORT BEACH Principal Taxpayers June 30, 1993 Source: Damar Real Estate Information Service 95 Schedule of Direct and Overlapping Bonded Debt June 30, 1993 1 I 1992.93 Assessed Valuation: $ 11,835,251,258 , (after deducting $241,288,464 redevelopment incremental valuation) DIRECT AND OVERLAPPING BONDED DEBT: % Applicable Debt 6/30/92 60.374 Orange County 7.448 % $72,990 Orange County Building Authorities " ' 7:448 22,937,270 Orange County Flood Gonfiol District 7A57 244,962 Orange County Sanitation_Districts #5;6 & 7 nch Water Distract Certificates of Certificates of Participation 7.116- 96.551 30,393,866 Orange County Water District Certificates of Participation 1 567 ° 2,002,140 Metropolitan Water District 1.501 10;045,443 Municipal Water District of Orange County Water Facilities Corporation 0.046 41',931 Coast Community College District. : Certificates of Participation 25.925 4,46 ?,919 ck;Community College District :atesof Participation 0.942 Mesa Unified.Sch ]'District 60.374 Mesa Unified School DiArict'Community es District aW Certificates of Participation 35.070 a Unified S.eb' District and: sates of Participation 9.532 took +Districts' Authorities Various nch Water Distract Certificates of patioii' and Improvemenr:Distncts 0.028 - 15.467 City of Newport Beach Cerhftcates ofrPartretpatioit 100 TOTALGROSS DIRECT AND.OVERLAPP.ING BONDED DEBT Less: Orange County Sanitation District #7 (100% self - supporting) STATE SCHOOL BUILDING AID REPAYABLE AS OF 6/30/93: $6,105 Source: California Municipal Statistics, Inc. 0 257; 549; 1.;909, 2,306, 78, 4,264, 7:500. $87 L C' CI LJ I LJ