HomeMy WebLinkAboutFiscal Year 1992-93 Financial Statement' CITY OF NEWPORT BEACH
C A L.1 F O R N I A
C'.OMPREHENSIVE ANNUAL.
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9--,
YEAR
ENDED
JUNE
��'30,
1993
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THOS COPY BELONGS TO DENNIS DANNER
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Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 1993
Prepared by the Finance Department
Dennis C. Danner, Director
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INTRODUCTORY SECTION
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,- 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 -
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Budget and Actual:
• Park and Recreation Fund ................................... .............................52
. Library Fund ............................................. ...............................
.. 53
• State Gas Tax Fund .......................................... .............................54
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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;
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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
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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:
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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.
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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
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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.
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Percentage Change In Revenue
0 Miscellaneous 7% - 12% 3%
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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)
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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
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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.
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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.
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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
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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. -
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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
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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
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NEWPORT BEACH CITY OFFICIALS
City Council
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John C. Cox, Jr. Phil Sansone John W. Hedges
Council Member Council Member Council Member
Principal Administrative Officers
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Kevin J. Murphy
MM
Clarence J. Turner
City Manager
Robert H. Burnham
City Attorney
Mayor
Kenneth J. Delino
t>
Deputy City Manager
............................... Building Director
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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
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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
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I I PERSONNEL
WermMa AdmwwaaMM
Rlakp.uggmm
II 1�6a Rd.00w
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LIBRARY
C-1 y
>
IL_ �
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BUILDING
L_ PofM(
MARINE
oam uFeguvd.
B.IPad*s t B.ein
J
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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
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_.- '
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PLANNING I
C':Ah..Maero :m
Advuuz Planning ,
Cade FNoraman
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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
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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
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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
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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.
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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
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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.
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Capital
Projects
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181,847
708,441
61'I'da
111,497
WIPOO
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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
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Total
452,227
703,180
61 1.010.9761
(10,084,719)
39,261,862
$ 29,177,143
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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.
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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.
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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
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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
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Internal
Enterprise
Service
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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.
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Total
(Memorandum Only)
1993
$ 13,225,483
57,415
15,195,733
$ 18,779,239
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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
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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.
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Total
(Memorandum Only)
$ (470,979)
1,520,298
(601
100j781
(13,878)'
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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.
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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.
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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.
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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
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1
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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
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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
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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
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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
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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.
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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.
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' 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
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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
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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
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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
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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
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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
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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
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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)
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THE GENERAL FUND
The General Fund is used to account for fiscal resources which are:
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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
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e i�J s 41 P¢ gtl+w�'uigig3:¢eY;
n i tL 66j"� qys�� e
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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
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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
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Arterial
Highway
Financing
1 22,385
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Federal
Adopted
Forfeiture
1 22,385 1
$ 71,969: IL,964'685
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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
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FA
(Continued)
CITY OF NEWPORT BEACH '
Combining Balance Sheet ,
All Special Revenue Funds (Continued)
June 30, 1993
Building ,
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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
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1 Community
Development
Block Grant
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1 $ 77,047
1 $
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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
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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
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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
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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
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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
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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
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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. .
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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
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1
1
1
1
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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
.:
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1 1993 Totals
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F
L.
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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
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Detail U.S.G.S. quad sheet — Newport Beach Area
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M1 •i�i��m
Newport Beach
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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
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I
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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
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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
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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
—
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STATISTICAL SECTION
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87
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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.
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$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
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