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Home My WebLink AboutFiscal Year 2000-01 Financial Statement�� \� 2� / ƒ�: . . � y2: «z� \® > �� \) F7; WP()R �Lr Comprehensive Annual Financial Report For the Year Ended June 30, 2001 Prepared by the Administrative Services Department Dennis Danner, Director 'Y The CitV of Newport Beach was incorporated September 1, 1906 The present City Seal was adopted June 22, 1957 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ i� CITY OF NEWPORT BEACH Comprehensive Annual Financial Report Year Ended June 30, 2001 INTRODUCTORY S1 (Unaudited) Table of Contents:;:...... Letter of T.ra`Aimittal....... GFOA Certificate of Achi List in T, GenePal Purpose, FinanciaM;gtements Mary Information Fund: comparative Balance Sheets.... ....... ..... Statement of = Revenues Expenditures ddurss and Ch, ,an s mFind Balan dgerid Actual ' .. .. . - ... . Special Reveiue,Funds:. .......... xx ..xxi ....xxii Changes imental Fund Types r' ? !i;L ypes,« ...... T ks .,..:,. .. :..., .. 51 ......... 52 Combining Balance Sheet.. ....... 54 Combining Statenent of Revenues, Expenditures and Changes in Fund Balances.........58 Statement of Revenues,:Eipenditures and Changes in Fund Balance- State Gas Tax Fund ..... ............. ....:......... .. ........ .............. ......................... ............ 62 Traffic Congestion Relief Fund... ....................................... -- ............................. 63 Asset Forfeiture Fund .............................................................. .............................64 Tide and Submerged Land Fund ........................................... ............................... 65 ContributionsFund ................................................................ ............................... 66 • Circulation and Transportation Fund.......................... ............ ........ ....................... 67 Building Excise Tax Fund ...................................................... ............................... 68 Combined Transportation Fund ............................................... .............................69 Arterial Highway Rehabilitation Project Fund ........................... .............................70 i Enterprise Futi4'., ............ ,S 0 � q and Bank Schedule of Dii Revenue Bond Demographic Ir 01 TZ .............. ......... 9 92 Retained ....................... : :..96 ........... .................. ..... .. ............. 1 101 .............. .... . ... il... 104 yb V V tx �,T . ... ... . .. .. .. .... ........................ ............................ 108 Fiscal Years 1 110 ars.-..-. ..................... . .... 110 ......... ..............................112 ii ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ i■i I I' 1 I ly IN SEW PORT CITY OF NEWPORT BEACH r n P.O. BOX 1768, NEWPORT BEACH, CA 92658 -8915 C'gCl F04N�P Honorable Mayor City Council City of Newport !13 Newport t3each;sl The that it is Its of op financial basis. The in s as manoar tes require is i and October 26, 2001 City of in is year and a 'si ResouiGeS used ;d in tt�rae general iir;siti ited, CuRWO L period; Capital _p General Government: City Council, City Clerk, City Manager, City Attorney, Human Resources, Finance, Technology and Administrative Services. 3300 Newport Boulevard, Newport Beach iii Xvii Certificate of An rig 10 WIN xx ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ W a ■ ■ ■ ■ CITY OF NEWPORT BEACH P.O. BOX 1768, NEWPORT BEACH, CA 92658-8915 Honorable Mayor City Council .. City of Newport ;$ Newport Beach, The Comor6hens and that it is results of op basis. The in si ,"ispereDy-surimmea. as manow otdinAnces',�-'aii dfitatutes require ,designed to,ft funds;; , . accourr October 26, 2001 CRY Of id that ilAity 4' disdI04 in. alf.n a finani comppi the rw 1. year and expenditures shOWOA)e presumed to benefit the current and,,, 0W."fiscal periods; and Debt Service exp6i" Zh9pld be presumed to bonefit-,06' current, and future fiscal periods. The City utilizes more specific categories to classify expenditures by the function of the services the City provides, as follows: General Government- City Council, City Clerk, City Manager, City Attorney, Huma n Resources, Finance, Technology and Administrative Services. 3300 Newport Boulevard, Newport Beach iii Public Safety: Police, Fire, Paramedic, Disaster Assistance, and Marine Safety. was and ill duve serlv unit with the which the-neture and sic exclusion would --cause the as §*port! ac ('the )ration, which' 15:, a-' below, is included itional or financial , zation, the City of intabilit)vf6r,'fiscal (1) the, (2) orgaritiations for a, ::*e such that An organization is ►dent on the primar nt-if it is y, unable to adopt govern ...... .. " klond6d'debt without approval by its budget, levy taxes or setrA as ofd arges, or issW., the primary government. In a bI4hd6dpr'e"se'ntati "on, I a - component unit's balances and transactions are reported in a manner similar to the balances and transactions of the City. Component units are presented on a blended basis when the component unit's governing body is substantially the same as the City's or the component unit provides services almost entirely to the City. iv ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ R R ■ ■ ■ ■ R ■ ■ ■ ■ R ■ R ■ Blended Component Unit. The financial statements of the City of Newport Beach include the financial activities of the Newport Beach Public Facilities Corporation (the "Corporation "). The Corporation was formed on March 9, 1992, for the purpose of assisting the City of Newport Beach in the financing of public improvements, including a public library. A Board of Directors comprised of the Newport Beach City Council governs the Corporation. The.Ct►rporation.s finand " data•.and transactions are included in the debt service fund type, Pap a i projects fund type and ,general long -term debt accountgroup the City as and For The burst economic sloe of the s within various ria of a to cures to cope m ffize the eeon in Orange .0 my of the ;, iCo by sncies. tit a new ttat`°the current sri't until March of 2001 that City reveiue�growth trends began.,to flatten and invert, Since the impact of the economic slow-ddW $tart .d_so late in the fiscal yea`. revenues for the year, were still quite good. All revenue categories posted solid increases over last year's totals. The City's primary revenue sources are property taxes, sales taxes, and transient occupancy taxes (bed tax). All together, taxes make up nearly 50% of the City's entire revenue base and 65% of the City's General Fund revenues. Tax revenues, in total, increased nearly 7% over the previous fiscal year. Although significantly smaller than the top three revenue sources, other noteworthy individual revenue sources include state motor vehicle v license fees (VLF), parking meters, parking lots, business license taxes, franchise taxes, interest income, and parking fines. Other, smaller sources of revenue are numerous and highly varied. For the short-term, it is anticipated that revenues closely dependent on favorable economic conditions such as,sales, f, 6k I � dfiI d:AI I rah. . s. . i e n t. ,q, , c, cupancy taxes will decline during this coming year. Further,'a& the State grapples V#N their budget crisis brought ' I and about by the energy ;crisis the economic recession, there is a, growing concern that the State legislatiir6jrn , ij balance the Siatb'sUdget over the badks'of cities and school districts. Du Or" -a last ecqno- mic°tecession- the State diverted pro 'Ity taxes away from cities-, to -finance, the Education Revenue Augmentation Fund (EflAF). Newport Beach'&:Ithare of the RAF loss . exceeds $3 million since its inception in �ftcal year 1993 Property taxes may.ba', targeted . I this time as wbil-but eve I n , inception likely is the ."M tha .VLF fee, they promised to elimination of 'the VLF ubackfill hen, 4 e'State reduced h 2-.6 million, hard to Due t6'thi fiscal ye4i legislative gams 1 m -1 s , . � � If""'is' the' city's, esidents and business i 1 its,jeserves,.Ao preset Vi As the Cil the City's favorable )9l,Ao::: .maintain ..the highest 6stit6ehtso'TO I that end, the Z, 614 he' fiti'dinotal'strength of next and MAJOR INITIATIVES For the Year. The City's comprehensive Capdal >ImpTovement Program was again particularly ambitious, with total spending�of $19;G12,680°duriingf�t al,y r 2001. Of in to public use'byAugust 2002 year;,Slurry sealing occurred throughout the--city at Various; locations a cost of $352546. Major .rehabilitation =totaling more than $2 - milliom;oecurred in,-the following yeas: Newport °Heights °area, Via Lido 'Way, MacArthur „Boulevard Sari 'Miguel, Jamboree ih Road, 16- Street, Merguerite,,and Shorecliff: Balboa Boulevard.'Reconstruction and- Drainage Improvements, Adams to Medina Way, commenced this -year rpconstructirig deteriorated asphalt €.bnc..... pavement and installing a new storm drakri-,'";5tem.,,,T,,h,is pr9ject.wislestimiLie at $700,000 and was 70% complete at year's end:= T Storm Drain Improvements: various storm drain improvements were completed in accordance with the City's Storm Drain Master Plan including the 32nd Street tidal gate. Total Storm Drain Improvements during the year amounted to $752,570. Dahlia Avenue Street End Slope Improvement: The slope was graded, landscaped, and a retaining wall was constructed for a cost of $531,124. vii VIII Balboa Village Improvements In April of 1999, a City Council Subcommittee, Promote Revitalization of Our Pensile (PROP), recommended the development of a Balboa Village Pedestrian Plan. The objectives of the Plan were to improve the pedestrian links between the Balboa Pier Lot (beachfront) and the commercial uses m the,village (bay front), widen the sidewalks on Balboa Boulevard and V1laspingtc�rf � tre6t Land me tain,�or improve the amount of parking close to the theaief,- ►estaii`rants, and stores. Now, several years ;info the planning .and design. of the Balboa Village Improvement project, phase,1i construction- will commence during 2001 -02. With` a prajeeted cost of $3.5 million:, the improvements will include the constriction -of '�a new stort'ite drain and water, mairCon Balboa Boulevard and Washington, -Street, !reconstructi4 - with new landscaping of Balboa- Boulevardfirom, Adams to Main Streef and the rehabilitation of :r�Plaza. alley, Ocean and improvements, and marine education facility'improvements , is and Beach Tidelands Proiecis ar F The Tide and Submerged Land , Fund is used toy accnutti -for all revenues and expenditures related to tht-60"eration: of ,the City's= UdbI4hds, including beaches and marinas. Projects in this fund total'' "($1,685;000 }.='M6jor projects include: parking lot facilities maintenance program ($225,000); Balboa Yacht Basin facilities improvements ($65,000); Newport Bay sediment programs ($219,000); beach replenishment program ($107,000); oil field improvement ($350,000); and Balboa Island Bayfront repairs ($200,000). ix Other Street Improvements In addition to funds set aside in the City's General Fund for street repair, construction, and maintenance, significant funds often can be derived from Federal & State programs as well as cooperative rehabilitation agreements with other local agencies and from developer impact fees. State Gas. Tax funded projects total $5,199,000, the Orange County Combined Transportation frending sourcft' have, street projects totaling $3,731,000 while proleuts 4unded °b'y''d'evelopment impact fees;(Fair Share Fees) total $2,128,501 for the 0oming"year. Water Funds is desig are met should i benefits 1 an int€ t are pr data is with gen i to aroa The City of Newport D fraud, waste, or abuae Purchasing, accounts updated periodically. assets that ac fma finable, but not absolute,,; assurance. that these objectives onable assurance recognizes that: (1p the cost of a control its likely to `be derived; and .(2) the valuation ,of'costs and nd judgments by- management. Mated a comprehensive program to reduce vulnerability to gh an improved internal controF.'structure in recent years. 71e, ;and:. propettjt cgntroI procedures are in place and Single Audit. As a recipient of federal financial assistance, the City is required to undergo an annual audit in conformity with the provisions of the Single Audit Act of 1984 and the U.S. Office of Management and Budget Circular A -133, Audits of State. Local Governments. and Non - profit Organizations. As part of the City's Single Audit, tests are made to determine the adequacy of the internal control structure, including x / ■ ■ ■ ■ a a a / A ■ a a a ■ i / a ■ ■ 1 r / a C1 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ s ■ s ■ ■ ■ ■ ■ ■ ■ ■ ■ that portion related to federal financial assistance programs, as well as to determine that the City has complied with applicable laws and regulations. The results of the City's Single Audit for the fiscal year ended June 30, 2001, provided no instances of material weaknesses in the internal control structure or significant violations of applicable laws and regulations. The information related to the Single Audit, including the Schedule of Federal Financial Assistance; firrdiiigs and recommendations and independent auditors' reports on the internal control .structure and compliance = with.. applicable laws and regulations are included,ima`separate report. Budgeting,;Cbrrtrois. The .City of-Newport Beach maintains, budget `controls. The objective ,of_these controls is to' ensure compliance'with lagaLprovisions embodied in the annua, appropriated `budge# ;approved by ithp City Council. , Budget control is maintained at;the fund level The City maintains an encumbrance :accounting System as one.method;,of accomplishing budgetary control. Where - encumbrances indica #e an overdraft of the m purchase' ords'are not released "until i e xi allows the City to nditures, to make 5 enough to the wake of ■ ■ Defined Benefit Pension Plan. The City contracts with the California Public ■ Employees' Retirement System (PERS) for certain retirement, disability, death, and survivor benefits for full -time employees. The annual actuarial valuation by PERS changes from year -to -year, and the City's contribution rates are modified accordingly. ■ DWW"d 66 ensidb P %an..Th&dity offers a Deferred` Cornbensation Plari far full- Council. The li po q' which is reviewed `and'updated „annually, ;allows investments m, a' variety of specific instrumepts, ,as, „well as, "cettain: State ; county „and private sector.' muestmerit' pools and asset management cervices: Certifica #es of' deposit, demand deposits, bankers'.acceptances, t1:S: Government „and Qgeney )Securities, comnibi6 al paper;,,repurchase agn:ements,;arid the Local AgencyF,InvestmentFund are examples. Due to the fact that the Jnlume of funds available for investment has decreased over the past fOw years, as well as the�fact that interest rates have remained relai. ely low, investmeriteearnings ;are not;now as 'significant a' portion, of, -City. revenue: as.they have 11 been in the past.,ln addition, the portion of -those- earnings allocated`, #o `the General Fund has decreased an relation to the earnings of other funds. This'-' has * dub to the smaller daily cash balance:) the General Fund. The City's plan tog,reconstitute reserves will reverse this trend, but ri Is trot likely to have a.. ignrfScari#_ favorable impact in the immediate future. It istftel City "s el?n startding.etiolicyo account for all financial institution charges, including primay " checking account charges, as an abatement to investment earnings revenue. The City's current investment strategy is to normally place most of the funds with four ■ private sector investment management firms. Each of these intermediaries is guided by and constrained to an investment program at least as restrictive as the policy governing ■ the City's direct investments. Regular reporting, both in writing and by personal ■ xvi ■ ■ presentation, is required. Additionally, with regard to the private sector firms, well -. established and highly reputable third party custodians hold all cash or securities managed by them on the City's behalf. Smaller, more liquid portions of the portfolio are invested directly by City staff or placed with the State Pool (LAIF). Debt Administration. Atl,year -end, the City- I issues outstanding,;;Thes issues, net of ap certificates of participation of $6,845,0M wa payable of $2,469;399; governmental. fund cad fund capitalaeasbs of $1:053`.237. anagement. The ,City: maintains 'a risk mani tiowbf self- insured retention ,excess insurance of this program, resources are now being set s coverage of coverage,,foi per bonded debt and lease Ired discounts, included y of $1,3,200,000; notes 79i3;t $5 Od proprietary OTHER INFORMATION' Independent Audi,The City Charter and State 5ta #utes requEre,an annual audit by independent certified public accountants.'Accordingly, CON,RAC AND ASSOCIATES, LLP completed this year's au dtE In. addition to meeting the r taife"'ments set forth in the City Charter, the audit also . ... was dasignetl -to rrteet ,the.r`equirements of the Federal Single Audit Act of 1984 and related OMB' "Circular A -133. The independent auditors' report on the general purpose financial statements and combining and individual fund, statements and schedules is included in the Financial Section of this report, which immediately follows the Introductory Section. The independent auditors' reports related specifically to the Single Audit are provided under separate cover. xvii Awards. Exactly ten years ago, fiscal year 1990-91 was the first time in the City's history that it prepared a Comprehensive Annual Financial Report. It was therefore particularly gratifying that the Report received both state and national awards for excellence in financial reporting. The City has been fortunate to receive both awards each year since. The Government (GFOA) awarded,, the City of NqwO __0 year ended-4=6- award rem _g - hizing local qov'e'm'ffient - In to the,highest standard �f Achievement, a go\ gram sianoaras-bucn a,prograrn OiP , let and applicable leg4l:f0elpire C.OVER.AND DIVIDER PI In keeping-'With'.1he Cfty'e�,,, the three BUO"ocum-( Divider pages d6hWintSCE settings within the `-Clty-;. including photos contribUll Bureau was the source of appreciated. to c6nf6rmAo the 'liCe'itifi submitting; it16,,GFOA. ES - ear only. We, believe but is, • a Ste ards in be Xviii Certificate of Presented to N of Newport B r , California: Pf p " �. .�''y � t• X11 . Fbr its Csimprehensive Ara 1 tl M1x15 IE 1., tl '. r 1 " fiinancral Deport R¢Pltl' P a E Pf " 1 nnas P nnE; 1, nc forthelF*,M Way, Endo A Certificate oflAchiem end f is Excellency. ,Reportiog.is1,0400#06b the Goiiernmerit Finance f?fHcers Association of,the. United States and Catmda to °_�,, government units and public employee retirement systems whose inpreh4nstve susual- fu�aricial y repo7ls-tGi4FRs) °achieve flyer highest standards in governrnent accounting ; 'and.fin n afreporting , OPOM Director xx OAAl NEWPORT BEACH CITY OFFICIALS City Council Homer, .dau° City-Manager LaVonne M. Ht1lss Robert H. Burnham City Clerk City Attorney Sharon Wood .. .......... ,Assistant City Manager /Director of COMmunity'lk Economic Development Dave Kiff .................... .......... Assistant City Manager 4 Dennis C. Danner ......................... .....?. , .: I ..... Administrative Services Director /Treasurer Bob McDonell ........................................... ............................... ..........................Chief of Police TimRiley ................................................................................. ............................... Fire Chief David E. Niederhaus ........................................... ............................... General Services Director LaDonna Kienitz ........................ ............................... Community Services Director /City Librarian PatriciaL. Temple .......................................................... ............................... Planning Director ]ay Elbettar ................................................................... ............................... Building Director Steve Badum .................................. ............................... .........................Public Works Director Linn Livingston ................................................. ............................... Human Resources Director Eldon Davidson ......................................... ............................... ......................Utilities Director xxu ■ ■ ■ ■ ■ ■ ■ ■ ■ i ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ELECTORATE PuZIptRWareM1wdrO n Tdw muNU .. ne':I" Rewrvn L ELECTEDOFFFICVSS COtMCL APPoINTED BOARO58 COMMIBBIONa DODRgLAPFgN1EDPo &TMNS CRYD�MIMFNTa Fiscal Year 2000 -2001 NE ""' Febnwy 2 2001 R•.osrt u r ��•.,• a: COUNCI! — BOARDOFAPPFAIS P.B.a t. CONMIBaION _. _ l —L CMLSOMMBOAFD J CITYCLERK CITYATTORNEY MTBC4tAlABSIDN— L— J, PIAPiaiROCaA1ABSIex -- t L CITYMANAGER � ... , I I OFfiITY I ABSIBTAMgTYlMNAGER � ,1 mw�aesmw.�on vi � t'' I � f I I PLANNING,. :- ', POLICE I' L_ DBanM A. —L F= a I� HUMAN RESOURCES II COMMUNITY SERVICES' . I L m J -- I Rb Manm�amm� Cabot RdklioN :. I . I � B.mwaB.rvtca•} ` " t I BUlLOINO` GENERALSERVFCES Supw � MeiliYpe —,a ' (Wmns F�X*T >- 9pnia BWWinp MMnI•nairoa ' � RaM• C•lemm :• ,``• �qmN =fddtlXiM�4f - R•cyrAnp PuZIptRWareM1wdrO n Tdw muNU .. ne':I" Rewrvn L ELECTEDOFFFICVSS COtMCL APPoINTED BOARO58 COMMIBBIONa DODRgLAPFgN1EDPo &TMNS CRYD�MIMFNTa Fiscal Year 2000 -2001 NE ""' Febnwy 2 2001 R•.osrt u r ��•.,• ■ ■ ■ ■ ■ ■ ■ r ■ ■ ■ p i ■ a. re ■ ■ This page Jeft blank intentionally. ■ ` �v�t Y�Y, � r ■ fll Y f�:, (1 f �s ��if f ail IY Y as 1 11 It 1 ... i .. ,,,. .. ■ ■ ■ f ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ )oiv ■ ■ 0 I,� ;i ��... "f µmy >+ F ��< J � �-'�` �' i.. -� FS I ■ ■ COl VRAD. CERTIFIED PUBLIC ACCOUNTANTS ■ 1100 N ASSOCIATES, 1. UP' IRVINE,E,MCALffO NIA 92614 ■ (949) 474 -2020 Fax (949) 263 -5520 ■ Honorable Mayor and City Council ■ City of Newport Beach, California ■ Independent Auditors' Report ■ We have audited the accompanying general purpose financial statements of the City of Newport Beach, California as of and for the year ended June 30, 2001, as listed in the table of contents. These general purpose financial statements are the responsibility of the management of the City of Newport Beach, California. Our responsibility is to express an opinion on these general ■ purpose financial statements based on our audit. ■ We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government ■ Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the ■ general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general ■ purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial ■ statement presentation. We believe that our audit provides a reasonable basis for our opinion. ■ In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Newport Beach, California, as of June 30, ■ 2001, and the results of its operations and the cash flows of its proprietary fund types for the year then ended in conformity with accounting principles generally accepted in the United States of ■ America. ■ As discussed in Notes 1 and 20 to the general purpose financial statements, the accompanying financial statements reflect certain changes in the presentation of financial data as a result of the ■ implementation of GASB Statement No. 33 for the year ended June 30, 2001. ■ Our audit was performed for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The combining, individual fund, and account group financial ■ statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the general' purpose financial statements of the City of ■ Newport Beach, California. Such information has been subjected to the auditing procedures applied in the audit of the general. purpose financial statements and, in our opinion, is fairly ■ stated in all material respects in relation to the general purpose financial statements taken as a whole. The scope of our audit did not include the statistical schedules listed in the table of ■ contents and we do not express an opinion on them. ■ In accordance with Government Auditing Standards, we have also issued a report dated October 26, 2001 on our consideration of the City's internal control over financial reporting and our tests ■ of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and ■ should be read in conjunctions with this report in considering the results of our audit. ■ October 26, 2001 ■ ■ MEMBERS OF AICPA AND CALIFORNIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS MEMBER OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS PRIVATE COMPANIES PRACTICE SECTION 2 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .� E� A ' P IA A} kq$ Prmi i Yd�11WX 4 jb tkShPC"P. � iE f 1 � AI XY This pageI�ft bl4nk mtentional� � #k'A✓^4 `4 Y ptlbl as Wr Y�.�y�Sp5P�pp�V lj�WA� tl '..�Xd e Wi�@yPW Y R iv .. �{� uityyy ryNj'p3 aW`pW.y &!p �tl WWW pEM PS 1 IA } }W M'.. YyyY''W tlM -0p1�u4'PStl�� PY 1 If V� `YAY P 4 {�yS ffY YY Wd 9 q 24;11aP5 W WSX WWYY A{ Y .uA #Yqp IA q.. F� . a c �.i 2 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ L2 i t v' 1 M1} 4UPo ^�' N x. a' is 3 G 6 YSSd � Y� •iC. i d y to dbYE a F w rv4 PR�'.' Jy LELY' 1 } a 4y hz 3 AWR. Y x. a' is 3 G 6 YSSd � Y� •iC. i d y to dbYE a F w rv4 PR�'.' Jy LELY' 1 } a CITY OF NEWPORT BEACH Combined Balance Sheet - All Fund Types and Acccunt Groups June 30, 2001 Govemmental Fund Types Reserved (N0e.14)..,- _ 4,592• Unreserved, i3eeignet@p.(Note 14}4 ; - - - --- 23,787, Unreserved, undasignated:. F. Total Fund Equity and fatter Cred &s._ 28,380, Total Liabilities, Fund Equity — _ and Other Credits 37253k See Accompanying Notes to General Purpose Financial Statements. 4 1;559,302 s 569,533 Special Debt Capital Assets and Other Debits General Revenue Service Projects Assets: - 15479,198 569,533 13,221,797 ■ Cash and investments (Note 2) ; '� , $, 28779,472x,.,,. $ 16,347,210 $ - $ 11,596,208 Accounts receivable and accrued revenues' .. 4364;180 ... 782,633 - - _ _ Lease receivable ;;..450,166 - - Due from other govemmeMs`(NOts�Y�" - 4,532,657 •7,28,15$. - - Due from other fund9 {Ndte T11} ` - - -- 472,739 - - - Inventories of materf*and supplies, at cost -- ;:- X148,397 k - - Restricted asaets „gshand,Investrcients ( Notes 2 and 4) - 569,533 2,388,375 Other asseks,.'i ^" .. " 1,605,165 - - - - _._... Notesreceivable'(Note1) _50,000 - Fbred•$sae - "net book value (Note 3) - - - Other 44* Amount's available m'debt service furrtl z, Amount to,be provided for paymerst = •`d"+enerlong-term debt, Total Assets and Ottier4ebds - .. $ 37,953;8M10 ,$ °� 78,308,162 - -: $ 569,533 $ ' 13,964,5&3 Liabilities, Fund Equity and Met Credits ' 1Jatelibes t L CCMNr px 2w 1Y f tE, tH .. x�m. f ; t fAocoun payable andfaccrued Ilablk&a% « • ,, •;s $ 2,922,831 »» 5 1,078,920 $ $ 782,786 p81 1 "1111;1 RAd &pM &N A -0 5A 3� +.,.,:aJVccrued payroll , liM t�fta, .. .,. tl C 2 150151 a 31,014 - •ft ^y Accrued interest payable, lxrjDuelooitrerfunds (fotel :l)..t ..+ . -; 'a >., 348401 a „ - `, "yyDefeired revenue z ..V W ;, ,1, . - I . ' 1 314.534 ;'[ 139 202 - , ; - p"y A^ Y Y� Y L Due to bondholdersi �L4.S YkiY. F p 8 Lt^` r4 , pAgi Y3 ,11N If�B nf:.Y d DUato0thera " t ...¢'� tlAe F ce as »w r. - msme In ».F. xx 31$6- OOirsw° AareF 231'427 :! - - hA !A ¢. iRk F&i46 f yak Y,'8L t , portion of deW(Npte 4) - F i •.: .6irrenf XA lix term °debt (Note 4)! - "x jk Reserved (N0e.14)..,- _ 4,592• Unreserved, i3eeignet@p.(Note 14}4 ; - - - --- 23,787, Unreserved, undasignated:. F. Total Fund Equity and fatter Cred &s._ 28,380, Total Liabilities, Fund Equity — _ and Other Credits 37253k See Accompanying Notes to General Purpose Financial Statements. 4 1;559,302 s 569,533 2,593,815 ■ + 8,529,147 s - 10,627,962 5380 749 -- - - ■ - 15479,198 569,533 13,221,797 ■ 18,308,162 $ 569,533 $ 13,984,583 ■ ■ r ■ ■ ■ ■ 5 Proprietary Fiduciary Fund Types Fund Type Account Groups General General IMemal Foxed Long -Tenn Totals (Memorandum Onto Enterprise Service Agency Assets Debt 2001 2000 S 22,515,819 $ 14,053,470 S, 5,6118507 " "$ $ <s" . $ 96,960,686 $ 67,953,292 3,898,529 10,985 L,• ". :. - <.:.:.9,056,327 7.722,215 •4M 166 545,241 - - "oi,260,810;.. 5,629,664 - - - 41�j73y °;'::`p:. 1,879,663 41J7,561 - 339,956 = ^,' 278,282 1,451,535,�t, 1';719,380 ..,8,128,803 °. ,1Q,601,808 1,606,$65 `.� ��.576 - 50;000" "50.4700 52 798,872 " ' ' 6,210,335 ", e . , , < 88M60,293 - 147,819,501 147,664,654 - •569,533 569,533 588,x:1 9,306227 9,306,227 .'10.526,563!. $=.80,614.765, -,' $ 20,466:352 $ :7,407867, -$ 88,860,293 $ • 9.875760 $5�. <278040,915.. $ $ 1,645348 -: $ 6493,244 ',S 5,' 1 22457 I.547 2,391,169 ' Z,045,474 2551114 27.5 836 124j6 ` , e a 1°:87963 a E `, ,2453736 A 425.17,2 �" ` ., -: ", 4 °e °eR�t •;..eel, Air.. 3',577704` „Yt "'' " , + "I,p35 .71X 7,454,494 "�N e4, el "3,80183 • " 163 2797549.!69;496 t e, 284,609 1 ' 1 145,000, • A, 24,844 567;1885. 10,950 U00 "• 14,101,0519,875,7 , . .,:34;925,5,11 37,332,148:; ;. 14,326,866 19,6%601- JV.WS,760 1 .; '63:872,361 67,238,244; - 88,860,293 :. . "88,860,293 86,885,575, ".. 1580384F7, =, 7783 ... ": - 23,597,396 19,M,-A5 50483,992::. (8,423,748] , "_".., :.-._ - .6:_44,060,244 SAr738,615 11 ;648,804 - - 42944,230.:! ."'28,356,106 4,753,590 66,287,889 1.36'9,151 ... 88,860,293. ;,234.168,554 186,284,235 $ 80,814,755 $ 20.466,352 $ -03TT867 . $" °88,860,293 $ - 9875;71 • $ 278.040,915 $253,522,449 5 Revenues: Taxes Licenses, fees and PE Intergovernmental rev Charges for services.z Fines, forfeiturim and Revenue,ftm us* of Contributions- Otheir a total Revenues Exp diturew,--, 6enenw goverima ubficW*' �'Pubfic works Communityclevelo 22'� C6'rmmjnitys*vj60 "'Cap,FW Outlay Debt Service: M" P fi n cipat(N ote 4), 11 Interest and "'C' CITY OF NEWPORT BEACH Combined Statement of Revenues, Expenditures and Changes in Fund Balances All Governmental Fund Types For the Year Ended June 30, 2001 Special General Revenue Fund Balances, July 1. as pr Restatement (Note 19) Fund Balances, July 1, as restated 1 13,250.542 Residual Equity Transfer (Out) (3.695.851) Fund Balances, June 30 $ 28,380,093 See Accompanying Notes to General Purpose Financial Statements. 2 $ 15,479.198 ....... 2,243,306ii transfers in (Note 12) 7026,113 transfers out (Not6ij2) 9,874,931 ialbea- 3,4-27,891, ney and prop1w .. .... 7,389;678 396',377 1,026,427` 94,203,028 10,239 45,097883 ant 3,842;610 7 383� 9171,1 i 883;825 9Ls 66;585, �Z-90'290'0'1; Fund Balances, July 1. as pr Restatement (Note 19) Fund Balances, July 1, as restated 1 13,250.542 Residual Equity Transfer (Out) (3.695.851) Fund Balances, June 30 $ 28,380,093 See Accompanying Notes to General Purpose Financial Statements. 2 $ 15,479.198 ;Ing Sourc 66 (Uses)' transfers in (Note 12) transfers out (Not6ij2) from sale of fixed'a'sa4ts Fund Balances, July 1. as pr Restatement (Note 19) Fund Balances, July 1, as restated 1 13,250.542 Residual Equity Transfer (Out) (3.695.851) Fund Balances, June 30 $ 28,380,093 See Accompanying Notes to General Purpose Financial Statements. 2 $ 15,479.198 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Only) 018 652 (823(895).x(1,591,105) (16,958) 6878249 17,120,650 ;., 2,736,812 586,491 6343548 44,758;500 42021688;: 7 10,239,134 45;522,763 ` ` . 41, .18,301,498 ,16: — 3,842,610 ' t.. 4 8623,119 7 �e @tEa *r: 7377;351 17293,323 13, 35000' "R$"G4r,;. 1244,442 ',t7. °RIV 533;503 6,878,249 °5hh° , 17,944;545 q. 518,652 =�', 5,898tf64'15 - {6,771113) `,-• (71 Only) 018 652 (823(895).x(1,591,105) (16,958) 6878249 17,120,650 ;., 2,736,812 586,491 6343548 44,758;500 42021688;: 7 CITY OF NEWPORT BEACH Combined Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual General and Special Revenue Fund Types For the Year Ended June 30, 2001 General Fund ng Sources (uses) s {peilciency) of Revenuers and Other--F iAan g Sourceig " Favorable Over (Under Exy. nditures BvdgeY ; , Actual (Unfavorable) Revenues: (7,990,370) 8,030.-03" "-' "16,021,073 Taxes $ 56,909,750 $ fit 90$,305:. $ 5,998,555 Licenses, fees and pe "„ ; • '- = 1,772470'' „2,243,306° -- :, ,::470,836 Intergovernmental r ae ", 6528,$89 =" 7,026,113 4$7,224 Charges for sQnSCes 8,507;660 9,874,931;,, 1,367,27], Fines forfeitures and penafites , _ 2,987,000 "'3427;891 440891 Revenuefimuse of money andproperty 5,485,247 ,7,389,678_ 11,904,4M .'• Contrrbtrtions 631,498 ° - 396,377 (235 121y' Other , ;va "387,429 1,026,427, " 638,998 '- Ttbl Revenues 83,2ti9,913 94,293,028. .. 11,083,115 Exp$tures. Current , Generdgbvamment ! 12777,988 , 10239134 2;538,854 ' Publiasafety Z,1149 58 ;¢5,097,883 -, 51,701 Public works 17' bD,076 17,327951 372,125, 5 g, Comm unitty development �. •4,287,359 ' • 3,842-,610 4,44,749 Y¢a ,. CommunAy servtces" 7 3'36,119 ' :7,383;91,7 (47 798) is,Capital Outlay 750 ,661 5,433,285 2,068 376 17 Service ,Debt i i' i Principal (Note,4)p „& 8. 1 161;491 ? -883,826,:_, 2771`666 Interest andfiseal "char9�c, 1 2317 3 ; NS 9Q585 lAl w 141208 «« rpll, f;Y "" V 1 1 YYr+ a Y ^5 Y 1 p ff f VYYApf e vi iivae ri Yn Total Ex'pendilu ea p " "u "...... � y 5 5 If 1 XI Apr K11 ,.., . if Ali &,,r 96;1461071 " 0a29919D I 0 51 ' ,•? :.. 5,846 Excessefiaen Revenues , {boy) of ng Sources (uses) s {peilciency) of Revenuers and Other--F iAan g Sourceig " Over (Under Exy. nditures and OtherFinancicigUaea (7,990,370) 8,030.-03" "-' "16,021,073 Fund Balances, July 1, as prevlousy`fep6rla,4 i `23,5783$3 - '23 578;333 Restatement (Note 19) 466,908 466,908 Fund Balances, July 1, as restated 23,578,333 24,045,241 466,908 Residual Equity Transfer (out) (3,695,851) (3,695,851) Fund Balances, June 30 $ 11,892,112 $ 28,380,093 $ 16,487,981 See Accompanying Notes to General Purpose Financial Statements 8 $ 15,766,206 $ 15,479,198 $ (287,008) N Special Revenue Funds Variance Favorable,,, Budget Actual (Unfavorable} $ $ $ 1,581,498 2310,817 729;119 " 4,062,554 4,437,522 374968 26,000, 31,920 5,920 81,102• =, ",` °48,055, �• 88,953 4 987 934 7,947,332 2,859,398 329,311 210,000 X9`19301) 100 14;648,489 `° 7 71 14,965 446 , ` ,3,$16 957 475,282 248,423 226,859 463,911 4,19,966 (686,055) 303 526 '' 303,526 w; 1,31'4,62B 1 °239202 75,426 6,738,692 4n4626$7 21256,005 " d 91 114 694 125 617 (10,923) 121678 "« �A11j445 10,233 p „,v�, "�,+ +' ` &l 'APE s 9,582,411'5 ; "�,,f "'''a err •,,,:. ��.. v -•r; 7;367,340 < << 2,175,071 h „ 1 6jb'� 8 71608,106 '” ' 6092,028 ' " - (5,379 450) ' (5,379,450) (9;379,450) ;-, . ._ (5,379,450)—,,_ $ 15,766,206 $ 15,479,198 $ (287,008) N ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 11 fA This btAnk intentionally.., la 11 CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 (1) Summary of SianificantAccountina Policies The financial statements of the`City =of Newport conformity with Generally Accepted Accoun government units The "Govemmental:Accoui accepted standard= setting:. body for establishin The, finan primary g included financial r the City c for fiscal i City, (4c for which exclusion levy the is incorporated on Septemb 6administr6tiye services nests ,present ifiem financial activity. of -ti rt) and' its component unit They comp ys "reporting entity because of the sic p with the City: This entit y. is legally sei t Beady s elected iaals have continu the 6bmpQnent Ind The financial rep( ms:fdr which ,the Cdy . . plc lly aeci re, andusegnrticance oftleir relatio..nshi jse.the'City's financial sEatemerits to be body is`�substantially- -the _same as the City's or the con almost ntinity to the City. have been prepared in IAAP ") as applied to oard ( "GASB ") is the counting and financial ooliaes -:are described CounciPO V (police, fi rents, 'planr "itv of Nem ieance of its; operational °or ate from the CityH'owever full or partial accountability', �gentity consists of (1) t3e3 table and (3) organizations +vrth the Gty are= such that sieading or incomplete , ant if -it is unable to adopf:ts iebt 'without approval by the orient. units' balances` and and transactions of,tfie City. component unrt's;governing nent'unit cinuides services The financial statements of the C(ty of Newport Beach - include the financial activities of the Newport Beach Public Facilities Corporation'(the "Corporation "). The Corporation was formed on March 9, 1992, for the purpose of assisting the City of Newport Beach in the financing of public improvements, including a public library. The Corporation is governed by a Board of Directors comprised of seven individuals appointed by the City Council of the City of Newport Beach. The Corporation's financial data and transactions are included in the debt service fund and general long -term debt account group. Separate financial statements are not prepared for the Corporation. The debt service fund is used solely to itit CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 account for the activities of the Corporation and contains no other city debt financing activities. The City uses - funds and operations ::Governmental basis.:Fund accounting ii management by segregatl furiii= is'defiined as an inde accounts recording cash-; and residual equities or-I purposes; of-carrying oiit with special regu orts, re The combined :flnak4Va _i categories containing sevF , Governmental §Fend Tvoe: , ,,Generat °Fund The Genera3`Fund is u$e Elie acedjiteddfor in Si ecialxRevenue Fu proceeds.of sp4 law or administrative Debt Service -Fund = r= of resources "requin .,.°interest ac Otal Proiect Fund resources used °for tt those ffrtariced by pri accounting resources, ,me- .--activities or attaining cell tions'or limitations. meets in this. rep ort,,are gr< bneric fund types and` ntq two. n a sell with all are se and results of led on a fund d• aid financial or activities. A alancing set of ilated,labilities Dgated for the in accordance fund of the to cept those req iedto account for the payment of generals long -tern - The Capital•Project Funds are used to acquisition or construction of major capit, for the accumulation debt priheipal and r financial other than Enterprise Funds - The Enterprise Funds are used to account for operations that provide services to the general public, which are financed primarily by user charges or where the periodic measurement of net income is deemed appropriate. Internal Service Funds - The Internal Service Funds are used to account for the claims and judgments, compensated absences, retiree insurance, and equipment M CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 maintenance cost of service provided by one department of the City to other departments on a cost - reimbursement basis.,,_ Agency °Funds - The Agency funds are used to' account foraassefs. held by the City as, an agent for individuals, private organizations or other governMerrtal units and/or ot�ier funds: , .. sf@ deferred until they become eurient. AV—_ P prietary' funds are accounted for on a flow W f economic resources measurement focus. With this measurement=- f6dus, all assets -and all, liabilities associated with the ■ operatio of these funds° are included on the balance ,sheet Fund-:equity (i.e., net economic r`asQurces) i& segregated into, contributed, and_t Caihed earnings components Proprietary' fund -type, operatingsfaternents prese -t". `increases (e.g., revenues) and 4ecreases_(e.g., expenses), in net economic resources Fiduciary fund types are-accounted'for a�rdmg tolhe nature of the fund. The City has only Agency type funds, which are "purely custodial in nature (assets equal liabilities) and, thus, do not involve measurement of results of operations. S 17 ■ CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 • At fiscal year -end, budget appropriations lapse. Budget appropriations for incomplete capital projects are re budgeted in the following fiscal year by Council action and a ,insludedAri, the revisions. noted above. Projects that are not started during the - budget year are reevaluated "in the following year. • En�rm6rances .represent commitments related to unperformed contracts for goods and se- r1 vices, . he. City utilizes an encumbrance system as a management control'technique to assist in<.controlling expenditure&, Under this system; .encumbrance ,accounting for the: expenditure of funds is 'recorded in order to' indicate outstantling commitmerits.; and.: is employed in the 1 gvernmentaLfurxd types,' Encumbrances„ outstanding at year -end are reported as reservations ?,of furid?balances since the do not. constitute expenditures or liabilities Encumbraneps and their related . budgets are ''honored' in the subsequeni:yearto fulfill these commitments'and'are presented as revisibnsrto QrigI 01ado t Cash and Cash f auiyalen'ts ) ? a w 'or `pi rpdses of, the Statement of'Ca §h Flows cash and cash equivalents are,defined to ;j be cash on;hand demand deposits °and highly hquitl investments with a maturity of three , months or lesswfrom the:date of purchas® ° For financial statement presentation "purposes ;° Lash anda cashequivalents are shown as,cash andailivestments� and restricted cash andi'i' investments itt thd1propnetary funds. Investments s Investments ar,e ^,generally stated at fair value' Gash and investments are pooled'o maximize investment yield. The net change rn fair value and interest earned on the investments is allocated °fun,' d to'the respective based tin Oach funds average'monthly cash and investments balance. ' <; The Citys investment in LAIF is $12 995,754 at June 30, 2001 This investment value is based dtl information "propided: by the,State .Treasurer's Of#ice. The :carrying value of the . City's posXtorr Jn'the fund "Ps rhaterialty consistent "wi"ih the fain ya6ji °the fund shares. Hof This pool is under the regulatory oversight of the State Treasirer C)ffice. The IAIF Board consists of five me—M ers,a designated, by.Statute ,T Chardon is the State Treasurer, or his designated representatnre ;Ttivo;mernibers gWalified`by training and experience in the field of investment of finance, and two °members who are treasurers, finance or fiscal officers or business managers employed by any County, City or local district or municipal corporation of this state, are appointed by the State Treasurer. The term of each appointment is two years, or at the pleasure of the appointing authority. ■ 20 J ■ CITY OF NEWPORT BEACH s Notes to General Purpose Financial Statements June 30, 2001 The City's investment in Los Angeles County Pooled Fund is $93,034 at June 30, 2001. This investment value is based,:fon information provided by Los Angeles County Treasurers office. The .carrying "value of the City's position in the fund is materially consistent with the fair tialue of 'the fund" shares. This pool is under the regulatory oversight of the; ^Los -Ang'eles County Treasurer's Office:,The oversight committee is ■ comprised of the- following Los Angeles County ,officers:.treasurer an,d, tax collector, chief administrative officer, auditor - controller, chief engineer and• general manager (County ` Sanitation.District) and thedirector'of school financiat services ,(Office oftducation). Lease Receivable` - ';. Lease receivable repres4hWease:•payments due on property donated to the City during ,. fiscal °year 1993.' The 1es se term on this', property runs through fiscal year 2007 As'the revenue recognition criteria hays not been met, a corresponding defeed revenue has been -recorded,t Due From Other Governments Due °from othefRgovemments .represents'.capital project billings and pending traf sferS:`& taxes and fee*pollected.by other govemment agencies. As of June 30, 2001, the balance. w gf,,,_,account "was$5,260,810: °. 9' ` inventories 1 Inventones". are valued at, cost ,which apptoximatss ,market, usjng the first m, first out a: method: The,''Eity follows Ith .consumption method ,.tor raven ory -caritrol. The =costs csf „g overnmentaifund type inventories,are recorded as;expanditures•when consumed. Notes Receivable'_,,','',, ^$50,000loanto,the Included in notes'receivable -is a City Managertopurchase Ehome in �. _ , ., -, the City. As required, by the City_ Charter and the employment agreemer- the City ManageT�has 1:6 establish residency it , 'and become an elector of the-City of Newport Beach: The^,City Managear shall: pay -a simple interest on,`tlie- unpaid hatarice of the loan, which shall be'du'e.on or before September 151 of each fiscal year The interest rate on.the loam shall be the average rate 6Ftehith on all City investments during the fiscal year. The Gi6y`Manaber may t}ut is not required to, make payments to 11 reduce the principal amount of the"loan at any time and payments to reduce the principal shall not be subject to any pre - payment penalty. The entire unpaid balance of the loan is due after ten (10) years from the effective date of the Amended employment agreement or at the City Manager's separation from City employment. f ■ 21 r CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 General Fixed Assets The general fixed account group de: fixed assets are oz cost is not aveiiabl on the .date.';d nat, 0 their are as follows (ntaliied at s. Donated d Fixed lure lease, p are not di sd- riotav cr e, ts, bride: leril�!,, then in a separate self - balancing ;punt Group." These general 'tori cal cost if actual historical i r e stimated., :fair market value obligations pre valued at the 1. Assets in'the.neneral fixed ire fixed the `dafe of The City a=unts for material ,; *claims and judgments and .Oweiiated legal and administrative'rros'ts.wben it is probable that 'the -liability claim,has,been incurred and the amount of the loss oan °tte reasonably estimated- Th6 C.tty records the estimated loss liabilities in the Internal- = "entideo F6hd� inciudet). thetairi are claims incurred but not reported, which consists of (a) 'krfown 'teas events expected to be presented as claims later, (b) unknown loss events that are expected to become claims, and (c) expected future development on claims already reported. This is based upon historical actual results that have established a reliable pattern supplemented by specific information about current matters. Small dollar claims and judgments are recorded as expenditures when paid. 22 ■ CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 Capital Leases Property Taxes 4. at is the City's %I I I a. agreerneritt4s! 66pital. leases when title transfers to m or the le 6 s e 'c I ontairi,i;�&,ba,rgain purchase option. =rded at,the present 'Vdtub I ofl.the future minimum sir inoeptiom�capitaU leases used ,'.fo financing general p I Rai outlay and other financing sources. .Capital lease -h of property taxes are the ri rty taxes as revenue when r, and collected each fiscal .year March `,l July z" 1:1-Mill 6 permit employees to:acci 1 —'1st ins 2nd in'stalli 10 — 1st1lir 2nd,instillr as be paid to a upon separation from,City -se-rvirce. Beginning in.,fi,s,qt,al year ',l,,990, the City adoptpa a gpqoml leave plan to replace the traditional vacation and sick -16ave plan. - The City: !trutes a 0666fal leave:olar�whi ch -�6rmits a maximum of s accrual evey�employee, abdVe-.which theexcess is pai&ouf 4§_current66mpehsatipr. All Eimployepshltbd prior to January 1,- ar "2990, were r6 - otibn and sick j given the option of remaining in t ditional V I -' leave plan or enrolling, inAhe general leave Dlan.All employees hired,6n., or after January 1, 1990, ar6AUtdrbatically enrolled. in the general: leave plan. Compensated absences are accrued in the�,compensated Absence Internal Service Fuiri&Wheh employee services have been render �and-whehwit: becomes probabI64114fth6"City will compensate the employees for benefits through, paid time off -ou-64sh payments at termination or retirement. Benefits that have been earned bud are not yet available for use because employees have not met certain conditions are accrued to the extent it is probable that the employees will meet the conditions for compensation in the future. W r � r . a t U 26 CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements r r June 30, 2001 r As of June 30, 2001, the City's deposit balances were as follows: r r r r r Category Bank C Carrying ;- ._Balance A Amount Petty Cash $ $8,032 Deposits i i Demand deposits $300,000" : $2;302,428 - - $2,602,428 „ 8 892,978 Total deposits $fl0�000 • $2;302,428 $2,602,496 ,� ;.- $ $901,010 ■ r Investments The investm6n4s, that are represented; by specific identifiable investment securities .are, classed as tq credd risk' by three categories as follows, Catewrv1 Insured =registered „or securities held5by the City or its agent i t thew Eitys naive. I ; a, t ��' ■ ■ tii � the` counierpbtty,'s trust;department or agent•ivVthe City's nanw ; i, ; r Categ©rv.3 Umrsured " and unregistered, with securities held'' by g g e r r , counterpart y. or" b by ds trust department or agent but not in the City's name .. " t U 26 r CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 A The City's investments at June 30, 2001, are summarized below for the credit risk and carrying amounts: . .Category .` Carrying .�, :., 1 . 2 3 Amount Pooled InvestfZlenEs U.S.TteasuryNotes $4,838,308 $4,838,308 Federst Kfome Loan BarSk 13$,838,593 28,838,593 :FenelalFarm` �editBank 3,7014rA: 3,702,454 Federal Home Loan ' '" Mortgage Corpordnonn 7,009,991 �" - 7,009,991 FederaNRational-ifllortga, e^ ••,.- ; Association. 15,886 023 - 15,886,023 :OtherGovemr*ht,„ I' Securities "`i's033120 �FMoney - 2093,120 � mariki funds" Mediurrl term,notes - 18,425 011 ■ w'r commercial^paper 11,039337 c a4A V039r337 —State plhaCali r tlY','4Y ?omia Local"AgbnFy ■ i Iravestmerit Fund• - 12,965",154 Los Angeles County Y A �� 11 PI a ,i?ooiediFficl',IX °;Y tlX 93;034 tl�tl R�E "Ip i Y "x V ........... KYYYYIx AYI � " i PYI YtlA�4 Xp 141 P 1 Yti� YY " $81 Y' pNtl 1 1 9^ " ^u t� $98,07Toialpo5ldinvestiiiets 9, 676 n °7723" , �1 hf � {" i 1 �R R q OE YRR Rfll ' 1 "' RRRr fl I�kl ik� ■ P "I � srv�i,ry 0.i 1 +Y Y rR I1 AL .`s' o f Y ¢1 aAnq i i Y 11 JrAO 1 1 P nIpYY 11 i i M1 ni ,. RuRt.n fin � •E`" i�'nap CwK, Investments with ,fiscald his. „YY X.. nanlP Mutual funds invested in US Government Securities' :$8128,803 "Not subject to categoriatation . ._.. ................ ■ ■ A. ■ ■ a a ■ 27 ■ (6) CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 loss related to torts,. theft of fidelity "'bonds¢foY. ;emplayees,tn key positions. Settle(! clainis from these: =risks have'noi exceeded ca( tm ^ercial Insurance' coverage for the, pas( three 'years. For general liabil tite�CRy has exeass ms. nce,coyeragdmf $25 million per; occurrence with aself -insure refertfront(51R) ;of $500,000 per.occurrence. w Ci, j, or compensation and . employees liability insurance, the 'City ; tiasl excess,. insurance coverage of $,1 OOO,b00 eer occurrenceiith• a $300 000 SIR -. This coverage, L provides for work related•acctdents "and diseases r''. t)4 N P a v i, C r. 9 G .,.: •i is �.� The Insurance Reserve fund ,4vasiestablished to account €forag "fists associated with general liability;^ workers co�p6)satton,; ; and, compensate&'absence benefits. The "4risurance Reserve fund''is; accounted "for•as ;,an `internal service °funii wheie:assets are set aside,46r risk management ,administration;,claim settlemdhts and benefit distribution. A premium is charged to each'furttl„ that Iaecourits for part -time or'ful-I- tiilfe employees. The total charge kicated to each of .the funds'is calculatetl using treridsl'in actual experier` after considering un6xpected'ar tivnusual claims, Fund Liabrfittes are reported when it is probable that a toss has-occurred and the amount of the loss O'an,be reasonably estimated. Liabilities include an amount,for daims that have been incurred IbUt -not reported (IBNR)- -lCialins iiaHilities are calculated considering the effects of mfletiort, °recent claim settlement trends including frequency and amount of payouts and other rrr arcaand social ,factors 'Elie liakslify claims payable include $10,215,150 which repte§ents the tliscountetf preseSvalue at June 30, 2001; the claims were discounted using an interest rate of lve'percent. 36 Unpaid claims, Incurred claim: Claim oavme i The to Due 3o r trust for The' agent CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 June 30, 2000 ar $10,266,Ofi5 , we&federal legislation, the Secti June 30, 2001 $10,277,432 3.382.910 mteii in 46c 61 City employe the e California Public Employeeq,,Kptlrement 5,y t4't1 (rtrcJ), an public employee- defined benefit pension -plan: aPERS provides enefits, annual cost- of4Mng adjustments,`and`death benefits to plan members'arfd° beneficiaries. PERS acts as a common inu"estment and administrative agent for participating; putiiiC E all other requirements ark e PERS' annual financial report Sacramento, CA 95814. 37 of Califomia. Benefit provisions and tuts and city ordinance. Copies of their executive office: 400 P Street, CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 Art al Pension Cost , For 2001. --',the City's annu ll pension cost of $5.596;949 for. PERS was equal to the City's and actual ddhtributi6ns.- A summary of principle`assumptions and methods us nine the annual,required contribution is shown below:; Increases on age; service, and.type of on age, service, and type of employment employment Inflation Rafe .3.50%:, Payroll Gbh, 3.75 % .' 335% Retiremer" 2 W% per year °cost-ofl4 ' .t ` L.00% per year cost-of-living Increases adjstiriec�ts_" adjustments Initial unfunded liabilities are amortized over a closed period that depends on the plan's date of entry into PERS. Subsequent plan amendments are amortized as a level percent of pay over a closed 20 -year period. Gains and losses that occur in the operation of the plan are amortized over a rolling period, which results in an amortization of 10% of unamortized gains and loses each year. If the plan's accrued liability exceeds the actuarial 38 CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 value of plan assets, then the amortization payment on the total unfunded liability may not be lower than the payment calculated over Wlpar amortization period. Ar nual Pension Pefdi Cnqt (Apm APr r, Safety Total 6/30/00: Misc. Safety Total 100 0/0 $o ($331277) 115.2% 1660%, (61-.8 ,08%) �'6 ty Actuarial dia bili w Yaluq�pf '(Excess ,Annual Covered UAAL Oavh)'ll %8)f P $22,106 $2,18,700 $261,977 ($331277) 115.2% . `'$40,927 (61-.8 ,08%) $94,287 - $125,443 ($31,1 6) 1`33.0 %_ 157,265 _ 110,345, —(13,080) 108.3% • 18,756 (69,738%) $251,552 $295,788 ($44,236) IV A% U2;474�--, (104.1480%) 7= $1171385 - t$137,045 ($35,660) 1 $26,052 (136.880%) �2% 21,428 (43.242%) $279,912 M4,-838 116.1% $47,480 (94.621%) More current information regarding actuarial data is not yet available from PERS. 39 CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 Plan Description - Defined Contribution Plan As of January 1, 1 Retirement Systei plan, benefits .*P All part-time: em l (and .b. and its e )yees who vent are e For notno-.. accelerating por'tian of employees pay'theYen pay -as- you -go ba°sie_ A' out of the 457 retirees 4 I contribution plan with Public Agency emproyees.:.ln a defined contribution to the piplus investment earnings. m the date:of employment. Federal a retifement plan, %and, City Council '5 °A. The.Gitv.s contributions for each care ie remaining premium at a rate of 25% each. ity s cafeteria program, .the; 'City pays an capping -of $400,.a month`'while the retired HERS premium.°This.program is funded on a 69,retirees are,enrolled in City's health plans In July 2000, the City established a program to begin funding the unfunded retiree insurance liability. The City contributes $20 per month to this fund and the active employees each contribute $10 per month. Contributions will continue until the projected liability is satisfactorily funded, approximately 30 years. 40 ■ i CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 ■ i The City's expenditure for post - employment health care benefits for the past three fiscal years are as follows: i YearEndmg: -`" PostemploymentHealth i 6- .June30 Care Expendfture�= i 2001 $395,042 i 2000 , $414,040 1999 :' $316,247 ■ ( 11)InterfundRe6eivablesa4Pavables ` 77 7 i At June 30,'2001, irrterfund receivables and payables were as follows Due From Due to Other Funds_ Other Funds i ■ $472,739 General Fund ` J 1'1 1 11 ". • � .. S3X i Special Revenue:Funds Community DevelopmenYBlock Grant - 348,461 E nte� Fumi;'E� 3 prise Cann ryVillage' 124,338 ��3'i' 1'0 1 P ix.v h 0. i 'Total $472,739 $472; 739 ■ - (12) k&ifundTransfers Interfund operating transfers are reconciled as follows: Transfers In ' Transfers Out i General Fund ' $5,379,41, 2 x`$1,391,701 ■ Special Revenue Funds _ ;r „a. 5,379,412 ■ Debt Service Funds 518,652 - ' Internal Service Funds 873,049 - ■ Total $6,771,113 $6,771,113 ■ ■ ■ 41 ■ CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements ■ June 30, 2001 ■ Interfund residual equity transfers are as follows: ■ F REsidual � Equity ■ Transfers Out — F --�- -- ■ General Fund $3,695,851 . Total 4305,851 ` ■ (13) thanstc�s in'Contfibuted Canitat-. Contributed, capital of 4he Enterpris✓3 Funds was unchanged as follows:. � Water Wastewater:: Total ,,Balance Julys 2000 , $8,044 944 $9,258,953; $15,803 897, �? , ;!� ■ ,f ;.Balance June 30; 2001 $8,044 944 %. $9,158 953n , $15,803,897" ■ Yx F JpM1Y YYpY U111 1 1 fl 1 A If IYpY Ivl" YYpi^Y n p nYl 9 1 A { Contriti�tetl'r "" ifal isf °thYe "lntemalrSdrvice Funds changed as follows,° " "^ aP ■ , F Compensated Reflree ■ Absence Insurance ;Equipment 70tal .."'.;;Balance, July 1, 2000 ., - $4,097,648 $4,097,648 Additions s, $1,000,000; - „_ $785851 1;,$,1,900,000, $3,695,851 � Ba roc ,June 30, 2001 $1,000,00Q_, a a $795,851 $5,997,84 ' $7,793,499 ■ (14) Reserved and 6e- WhAted Fund Balances ■ The City has set up reserves' of fund.equity to segregate fund balances which are not ■ appropriable for expenditure in future periods, or which are legally set aside for a specific future use. Fund "designations” also may be established to indicate tentative plans for ■ financial resource utilization in a future period. ■ ■ 42 ■ CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 The City's reserves and designations at June 30, 2001, are tabulated below followed by explanations as to the nature and..purposeof each reserve and designation. General Fund Fu $4394,595 $1,5: 148,397 $569,533- - rable Total Reserved, `$4, =` Designations estObhshbd a Capital j@cts Fund Total Q -992` $1,559,302 ; ;$56%533-- $2593,815'' =',' of June 30,;:2001, are as%follows: < L' Special j Revenue,:',.= coitalProlects% rat,Funtl" _ Funds ' =;Fund; T�taI 534284. $ &529147.; $10627,982 = . $22,691 722225 ; 4 aA1,722 $8,547,712 148,397 569,533 s on year not yet issued to Reserved for debt service This account sets aside a portion of fund balance to meet the annual debt service requirements. ttt CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 Designated for special proiects There are several special proj ! replacement, refurbishment!"!,".d include Recreatioraifn..'Intf out key t FIf Operating I -,data f o t the been designated for equipment pp.ment. These special projects lram Facility Replacement, ir�4nd,e,di:June 30,. 2001 for these Enterprise F T. 80,41C, 11"784,120- 1 Net (nod- operating , reV0r(uq:'.' -530,588 214,287 T Net inc6r66-- 114,858 -4i264,496 370,676 Property, Of and ent .4 equipm Additions 636,731 (Deletions) — (742 Net working capital (124,338)' 21;052;788 Total assets 1,091,943 65,302,636 Outstanding long-term liabilities 10,950,000 Total equity $967,605 $51,149,490 44 3.560567 14,220,176 $14,170,794 $1 13, 771,539 (742,565) 24,489,017 80,614,755 10,950,000 $66,287,889 44 3.560567 14,220,176 $14,170,794 $1 13, 771,539 (742,565) 24,489,017 80,614,755 10,950,000 $66,287,889 ■ ■ ■ ■ ■ ■ ■ i ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30. 2001 (16) Individual Fund Disclosures Unified School District. The;Authorty's Board is comprised ofttwo members appointed by each of the member agencies' The Authority created Community Facilities Disbici'98 -1 to finance public "facilities -that will benefit. the , properties "within . their boundaries. The Authority issued $45,000,000 of. special tax bonds that will =be repaid;`by special ass6salments; the °City is,not obligated in any manner to,.repayAhe bontle:,,The Authority paid the pity $30,577,712(81.7 %) to m pay for the costs of acquiring and constructing public facilities cl(*'hg' =parks and roadJmprav_emgnts:,AfJune 30, X2001,r,Jhe remaining bond proceeds are field m'trust._as restricted ca"sh'totaling $2,3,87,N6 . Th City does not make any annual contributi6ris t o ihis-joint venture. The City, doeenof include the Authority as a component unit, as the City-1s not.financially acp,6fmtabiii fior the Authority's activities and the Authority is not fiscally dependent orrthe` City. The City's equity interest in this joint venture is not readily determinable. Complete separate financial statements can be obtained at the Newport Mesa Unified School District, 2985 Bear Street, Suite 8M, Costa Mesa, California. 45 CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30. 2001 Air Borne Law Enforcement The City is a participant ip a,jotnt.venture;agreementwith the City of Costa Mesa for the operation of the Ate: Borhe "[_a+n Enforcement program (ABLE). The oversight Board consists of the., Chiefs of Police of Costa Mesa ,And.Newport=Beach and one appointee for each Memb&A, gency fora totat,pf fgur (4)-board Members. Ttie "Citjes` have a 50 percent interest: m `the venture :with each -City - having,Iprovided any initial - investment of two hehcoptere and-related equipment. The City. of Newport Beach's=cost of participating in the ABLE ,program is- recorded , in -the General Fund, which piovles for the maintenance and operation, of the prograr , as, °rvefl as ' replacement= of capita! equipment ° U_ sed in the ,operation of the program Attnifally: the- amounts paid by theCity to this joint venture are approximately $5556500 ;Operation costs are offset by, -fees collected from sUrrownding cities tt at inav, subkribe fo requiar aatml or request assistance on an as- needed basis. facility, The oversight board�consists of th'e existing Gity Manager of`'each City and as "an aftemate, the' Fire Chief of Bach City The City of Newport Beach's costs are based on %the number of personnePusing the training facilities" and is,recoided' in the General Fund: ae an expenditure for =service. Upon termination of the'agreement,,th' property and assets of the joint venture become the' property. of the City,of; CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 the year and, are recorded in the General Fund as an expenditure for service. Upon termination of the agreement, the, proceeds from the sale of the property and assets of the joint venture will be paid to each member agency pursuant to their fair share percentage. Annually, the amounts paid by- the City to this joint venture are approximately $272,408. The City's 9 0/minterest in'the net equity of this joint venture,inahe,ampunt of $39,911 has been recordetl -iii fhe General Fixed Asset Acdouht Group. Compute= separate financial statements can be obtained at the Metro Cities Fire Authoritv offices 0d201 S. Anaheim 47 CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 (19) Fund Balance /Retained Earnings Restatements Beginning Fund BalarigeIR amec( Earnings has (Been restated for under accrual of interest income in prier pieliod; the''iniplelnentation of GASB Statement No. 33, and the reclassification cf 'funds as shown below-- ■ -Prior . Implementation, - Period Of GASa' ' ` Reclassification Total ,zFt�nd TgpeslFunds interest in"c"ome Statement Nq:.`33 of Funds'= General Fund ,. $ ,466,908 $ $ $ 466,908 .Special Revenue FundsF :'State Qas Taxi .95;680 Asset Forfeiture ' ' 27,245 - - Conlributioris (269,609) ,- Ctrculatwn Transportation ,•i 101,803 - Building Excise fax` 181,233 - Combided Tian�`portation 18,069 - - a AHRP '� ;f44,465) ;f "�t> " t- BG �:'. '+ (54,577) p, • ._,- Ackerman'COnator n AQMD ,..•. 2,102 • ",- ^ ;3' .,, $ {'. 7ota15 crel Revenue Funds 280 066 � (1,259,551) $ 1999586) ni "EnterririseFuMds1"•Iw Cannery I; yyathr .. ...,. wastewater'• °•• 38,723" " -a. , „ _ ..' Enterprise 227,319 ' Internal Service Funds:- - - Insurance Reserve ' 33,269 7.359,810_; Compensated Absence - - - -_ - (7 359 Big), Equipment 14,687 '- TptatlntemaYSenrrceFunds, `•- 47'976` °` - --, . .�; s, $ 47,978 ■ ■ ■ r. p 48 . CITY OF NEWPORT BEACH Notes to General Purpose Financial Statements June 30, 2001 (20) Subsequent Event Proposed Annexation on January 1, 2002 ,The;City inaI begin serving Santa Ana H1 about July 1 , 2002; `The services that the ' =.City ;will provide 4fi genera(, -the; City, will provide law,'enfor..cement, fire,parame, recreation ,.public, works; general maintenance, and adm'i proposed areas of annexation_ The net economic impact of-the storm c Balboa was The City has also entered rnto "Anoth aging water mains and improve the' st contract was awarded for $1,475,700. on process area within port Ridge, ed the City as Under t either the political st onstruct ,"'. -first of three is consthidion of a new 1 16f arparkinq lot in the a �iYivate contractor to replace the drain in the Corona Highlands. The The City entered into a.lease- purchase agreement to finance the acquisition of three fire trucks for $910,848. The term of the lease is five years and the annual interest rate is 3.79 %. The first payment is due on January 15, 2002, and subsequent payments are due annually on like date thereafter. 49 50 r r 50 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Supplementary Information ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ CITY OF NEWPORT BEACH Comparative Balance Sheets - General Fund June 30, 2001 2001 Assets Cash and investments -_ ^ $ 26 779,472 Accounts Fesefvatile and:aecrued ievenues' 4,384,18 Duerfrom oth er govern nts 4,53 ;6,57 We -from other funds = 472,7,39 nveritories of r9ateifial and£supplFas at cost - 148,397 Restricted assets:- castrand investneitts Other assets n 1 8;1135 Notes receivable - SO;tIt)U Tatal:f7s $,= 37 95361D i Fund Balance: Reserved: Reserved Total Fund Batsrtca ,; „ Total Liabilities and Fund Balance 51 1 2000 21,894,718 3,381,069 2,947 3,534;284 4.669,284 1;722,225 1,723,195 x; 18p�$i};5ff;� � 14,618,984 :28,380,093 23,578,333 $ 37,953,610 $ 31,769,304 Revenues: Taxes Current: General Publics Cm 5 06" Debt 84 CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual General Fund For the Year Ended June 30. 2001 2001 2, 83,209,913 12 77,988 119 . Budget Actua , 411271,457 $,,,56,909, 750, B $ and-pernfits , I - I 1,772,470 2,243,396, Mal revenue 6,528,889 •,026.11113 e rvloei -8.507,660 9,874,931 asandpanaftles- ----�2,687,000- 3'427-,091 use of 6,070,417 �,(235.121) 1roperty ---'--'--,.-,5A85.217 7,389,678-, 631.4 98 A 96.377_ 2, 83,209,913 12 77,988 119 . Over (UndefyExperidl Financing Sourcei�.(Liies] :rating transfers In Fifing transfersout *03 from sale�cfassets 4;945.788 ;;i;WjD0lcIency)of fte van hues and 0 , Ifter'Floancing Sources- Over (Ur`xWtxf"Itures and Other FV6ruang Uses1,1,.,1., (7,990,370) 8,030,703 Fund Balance, July 1, as previous Restatement Fund Balance, July 1, as restated Residual Equity Transfer (Out) Fund Balance, June 30 2000 —Variance 411271,457 . wt ".. 4'2 (Vitfavorable) Actual 5,M,565:, 1 - 7 $ 58,846,994 7 470;836 14. 1 497,224 6,622,085 1,367,271 9;049,8441 Over (UndefyExperidl Financing Sourcei�.(Liies] :rating transfers In Fifing transfersout *03 from sale�cfassets 4;945.788 ;;i;WjD0lcIency)of fte van hues and 0 , Ifter'Floancing Sources- Over (Ur`xWtxf"Itures and Other FV6ruang Uses1,1,.,1., (7,990,370) 8,030,703 Fund Balance, July 1, as previous Restatement Fund Balance, July 1, as restated Residual Equity Transfer (Out) Fund Balance, June 30 2,538,854 2000 —Variance 411271,457 Favorable 16,492,55& (Vitfavorable) Actual 5,M,565:, 1 - 7 $ 58,846,994 7 470;836 2,244,020 497,224 6,622,085 1,367,271 9;049,8441 44 -891 3=,351 1,904,461 6,070,417 �,(235.121) 345,258 638.998 -659.331 2,538,854 9,441,381 51,701 411271,457 372,125 16,492,55& 444,749' 3.727,624 (47,798) $ 28,380,093 $ 16,487.981 $ 23,578,333 2.068.376 6,049.821, 277.666 •858.525 i,- 141.208 134,360 11:5184,6.881 83,492.459 � 433,624 (1.391,701) 5,310,303 ��-- 13-578333 '�2,3,578,333 - 18.268,030 466,908 466,908 - 23,578,333 24,045,241 466,908 18,268,030 (3,695,851) (3.695,851) - - $ 11,892,112 $ 28,380,093 $ 16,487.981 $ 23,578,333 52 ■ • ■ ■ ■ ■ ■ ■ • • ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ u[.. {,'f � � ■ ■ ■ ■ SPECIAL REVENUE FUNDS ■ Special Revenue Funds are used to account for the proceeds of specific revenue sources which are legally restricted to expenditures for specified purposes. City of Newport Beach ■ Special Revenue Funds are as follows: The State Gas Tax Fund accounts for all State Gas Tax related revenues and expenditures, including street repair, construction, and maintenance. State law requires that these funds be used exclusively for maintenance ■ of the street and highway system. The Traffic Congestion Relief Fund was established to account for all revenues received from the State ■ Treasury as per Assembly Bill 2928. These funds must be used only for maintenance or reconstruction costs on public streets or roads. ■ The Asset Forfeiture Fund was established to account for all revenues resulting from the seizure of assets in . conjunction with criminal cases (primarily drug trafficking). It is the City's policy that all such funds shall be used for enhancement of law enforcement programs. ■ The Tide and Submerged Land Fund is used to account for all revenues and expenditures related to the operation of the City's tidelands, including beaches and marinas. ■ The Contributions Fund is used to account for revenues received from other government agencies or private ■ developers and expended for specific street or highway construction projects. The Circulation and Transportation Fund is used to account for fair share revenues collected from ■ developers and restricted for capital improvement projects meeting the circulation element of the City's General Plan. The Building Excise Tax Fund is used to account for revenues received from builders or developers on ■ building or remodeling projects within the City. Expenditures from this fund are used exclusively for public safety, libraries, parks, beaches, or recreational activities. ■ The Combined Transportation Fund is used to account for the revenues and expenditures of funds received from the Orange County Combined Transportation Funding Program. Expenditures from this fund are used exclusively for transportation related purposes. ■ The Arterial Highway Rehabilitation Fund is used to account for federal funds available through the Federal Highway Administration Arterial Highway Rehabilitation Program to share the cost of rehabilitating certain ■ arterial roadways in the City. ■ 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 individualstfamilies. ■ The Ackerman 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, Irvine. The City's ■ portion must be used for library and scholarship purposes. ■ The Air Quality Management District Fund is used to account for revenues received from the South Coast. Air Quality Management District restricted for the use of reducing air pollution. ■ The Environmental Liability Fund is used to account for solid waste fees restricted for mitigation of future ■ environmental liability relating to the handling of solid waste. The Supplemental Law Enforcement Services Fund (SLESF) is used to account for revenues received from the county to be used exclusively for front line law enforcement services. ■ Misc. Grants Fund is used to account for all other short-term grant programs. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .. ■ ■ ■ ■ ■11 Al .Nit" It It . This� page, left, blank intentP,onally.,, ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 53 ■ Cash and CITY OF NEWPORT BEACH Combining Balance Sheet All Special Revenue Funds For the Year Ended June 30, 2001 6fvable A revenues- .7 ablei 1,26,406, Assets 5,116,452 566,971 - 1,1 d&; s and Fund, antes )ayable an& rued liabil 1,553 J $ 4 ayroll, or funds Fund Balances! Reserved forani Unreserved: Designated fo Undesignated 572,150 4 322,761 72,477 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ® Circulation Building "Arterial Community and Excise,- Combined Highway , - Development ■ Contributions Transportation _. Tax Transportation Rehabilitation Block Grant ■ $ Vb85 $ 5,314,363 - $ 790,155 $ 1,828,516 $ 3,899 $ ■ 48,552 " 6,273 ■ 144,160 397 038 _ ■ $ " -' 86,237 $ 5 314 363 x $ 790,155: $ 1,972,676 $ `, 10,172 $ ` 397 038' k< F . 5 f 3 i¢ " rx fr a $ r 5.306 $ , 61, O08 $ M782, $ 164,1$8 $ • " $ < ; ;,, 486$T _. ■ !' 3 "a:: 348,401 48;552 144,180 - fi,273 39T08 4,374 - 58,232 61;008 84,782 308,348 - 6,273 794,076 5,862 87;862 86,978 105,055 22,143-%-- = 1,559;273 - ■ 5,165,493 618,395 3,899 (397,038) 28,005 5,25313551% 705,373 1,664,328 3,899 (397,038) ■ ■ $ 86,237 $ 5,314,363 $ 790,155 $ 1,972,676 $ 10,172 $ 397,038 (continued) ■ ■ ■ 55 ■ ■ ■ ■ ■ ■ CITY OF NEWPORT BEACH Combining Balance Sheet All Special Revenue Funds For the Year Ended June 30, 2001 (continued) ■ ■ -Air Quality. -;Ackerman Management ieEnkvlronmental ' Donation „District ', Liability r Assets ■ Cash and rnvestments $5 229,067 $ 98,034' $ 1,458,856' Accounts receivable ■ and acraed revenues 19,249 Leasefeceivable 450,166' Due from other governments' 22,121 - r ,Total Assets $ " 679233 '$ 126,155 $ ;1,478,105 . Ilk a w tk '.,, t t G akd xn, , ;,' t,L'jabilities and FundiBalances.. =`gas a: 4 "A'i ` ItIl LlabtliueS x' 4 5 pVC 1p M C2 IAccouris aYYableantl "k VSpYa^ u k 3di.ia 3 " i. „« a ■ k RRR4Yd{'ii and accrue IiabAitres , 18.393 YVYpif. ... Accrued payroll y Due to outer fund s Defened revenue 450,166, ■ Deposds9 Total Liabilities 485,551 18,393 Fund Balances Reserved fot encumbrances 2,986 10,374 Unreserved:._ Designated for special protects 1'00,696 91,388 1,478,105 Undesignated Total Fund Balances (DetiGt) 193682 , : 101,762 1,478,105 Total Liabilities and Fund Balances $ 679,233 $ 120,155 $ 1,478,105 ■ 56 1 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ t ■ f ■ ■ ■ ■ ■ ■ ■ f upplemental $ $ 59,650 57 $ $ 59,650 '- $ 18;308,162 $ 16,811;558 i` S 1;078,926 $ 558212' 31,014 26,498.: 348,4,01• 1231,98& , 59,650 1,139,202 524,16T ` 231;427 "' 220,567` 59,650 2,828,964 2,564;430` 1,559302 2,287,800 $ $ 59,650 57 CITY OF NEWPORT BEACH Combining Statement of Revenues, Expenditures and Changes in Fund Balances All Special Revenue Funds For the Year Ended June 30, 2001 Revenues: Licenses, fees and permits Intergovernmental revenue Charges for services . Fines, forfeitures, and: Dena Revenue from use of mono and Proper€v.r,' ' Other safety Traffic State Congestion Asset Gas Tax Relief Fund Forfeiture 72,536 39,265 Excess of Reve and Other So Expenditures Fund Balances, July 1, as Restatement Fund Balances (Deficits), July 1, as restated Fund Balance (Deficits), June 30 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ (33,93#), 572,150 4 853,179 (64,469) 602,642 ■ 95,680 27,245 4,948,859 - 629,887 r $ 4,914,921 $ 572,150 $ 565,418 ■ 58 ■ ■ 7 ■ ■ ■ ■ Tide and C Circulation B Building A Arterial Submerged a and E Excise C Combined H Highway ■ L Land C Contributions Transportation::: T Tax, T Transportation R Rehabilitation $ 1,124,358 $ $ $ 4 483,398 $ 3 329,206 $ $° $ $ 6,065 4 427,768 • " 9 969,116 . . ` 446,465 ■ 3 31,920 ■ 2 2106 _ _ _ - - - - ■ 6 6,641,365 4 418,864• 5 54,448 1 143,525 - 2 25,000 ■ 7,$05,814 _ _ _ 452,768 9 902;262' 3 383,654 1 1,112,641 4 446,465 ■ 4 402,589 2 241,699 ; 998;554'' ; 561 088 1 174 381, 5 566,5.07..: 2 270,922 1 1,122,608 ■ 125 617 .■ 111,445'" ■ 12,196 293 ' 1 1.74$381 810,206^ 2 270,922 1 1;122,608 ' ' 006,521 278-,387 92,0`6 112,732 (9,967) ' 446,465 ■ (5,313 778) ,. - - - - ,. _ - " ■ 292,743 27067 92,056 112,732 „ {9,967 446,465 102,495 19,227 b,059,490'. 581,408 1656,228 3,899 ■ - (269,609) 101,803 11,233 18,069 (446,465) ■ 102,495 (250,382) 5,161,299 592,641 1,674,295 (442,566) ■ $ 395,238 $ 28,005 $ 5,253,355 $ 705,373 $ 1,664,328 $ 3,899 ■ (Continued) ■ 59 ■ f CITY OF NEWPORT BEACH Combining Statement of Revenues, Expenditures and Changes in Fund Balances All Special Revenue Funds For the Year Ended June 30, 2001 (continued) Other Figans(hg Sources Operabra %transfers in Total Excess (Defidlei and Other So Expenditures enues (Under) 146,53 Fund Balances, July 1, as previously repute Restatement Fund Balances (Deficits), July 1, as restated Fund Balances (Deficits), June 30 (37,927) (12,456) 227,676 112,116 (543,577) 3,933 2,102 (543,577) 231,609 114,218 $ (397,038) $ 193,682 $ 101,762 M r a ■ r r `a a a to ■ ■ a r a a r a r ■ 1 ■ Community Air Quality Development Ackerman Management .Block.Grant Donation District Revenues: Licenses, fees and permits= _ $ $ `„ $ Intergovernmental reveriva- ' 935;OO.0 84,119 Charges for service$T Fines, forfeitures' 44`8- penalties . Revenue from suse:of and property ` 17,721 9,857 Contributfans 1:85,000 - Other, Total Revenues 435,000 , 202,721:'' ' 93,976. ExpefidiWres: C0 rent, - ' Public safety - Public .works Z88,461`,. 40798 _;` 440 kCommum devetopmerif> . t 5 <, E Community aerurces `V " 240,648 •p;'. CapitaVOuitlay < R Debt serwc. r � ,• •w e x as a ` . Principal t tv.H.2 > ' � i — arri rre I nr• op nxn p,.lnceresf:and`fscal at » charges.` .C." Other Figans(hg Sources Operabra %transfers in Total Excess (Defidlei and Other So Expenditures enues (Under) 146,53 Fund Balances, July 1, as previously repute Restatement Fund Balances (Deficits), July 1, as restated Fund Balances (Deficits), June 30 (37,927) (12,456) 227,676 112,116 (543,577) 3,933 2,102 (543,577) 231,609 114,218 $ (397,038) $ 193,682 $ 101,762 M r a ■ r r `a a a to ■ ■ a r a a r a r ■ 1 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ e ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Supplemental Environmental Law Liability Enforcement Misc 472,719 165;04T 57,1.85 Totals 2001 2 2000 $ 2,310,617 $ , -r 4;437,522 4 Totals 2001 2 2000 $ 2,310,617 $ , , ;.2,003,925 4;437,522 4 4,245,078 31,920 1 18,683 128,1055, 2 214,820, 7;847,332 5 5,711298 176,457 72,153 424,880 , 464,476 - -. 973,547 406074' 54,37'577 s ,1;239,202 1,01762 - - 4;482,687 , 7,533 428 " - 111, 125,617 at • - 445 11 "176;457 72,153 7,357 378 472,719 1,005,386 1,005,386 11,410 14,968 14,250328 (999,586) 11,410 14,968 13,250, 542 $ 1,478,105 $ - $ 61 16,095,690 16,095,690 $ 15,479,198 $ 14,250,128 at • - 445 11 "176;457 72,153 7,357 378 472,719 1,005,386 1,005,386 11,410 14,968 14,250328 (999,586) 11,410 14,968 13,250, 542 $ 1,478,105 $ - $ 61 16,095,690 16,095,690 $ 15,479,198 $ 14,250,128 ■ 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, 2001 A , 2001 2000 rf 5 Variance Favorable Budget Actin ? (Unfavorable) Actual Revenues:° Intergovernmental revenue $ . 80,000 $ 427,768 $ 347,266, $ 550,152 Revenue from tfge bf money and props e ° ° Contributurns`,- 144,301 �5,0� - 019;301) 124,467 T lteven6es = 2'24,301 452,768 228,467 674,619 Expenditures. Capttai outlay P 1.79;456 174,381 5,075:" 655,392 excess of Revenues' Over Expenditures 44i845 '. 278 387 233,542 197 ,CJ A IA t k t�d " ",. SPA.. EI �Pp F0413alance July 1, as previously reported 19227 f 9 227" ; S'AUl na... l,Resiatert�ent r k Y A " ° � ; (269,609) (269,609) a r l l p f P Ipdf '� 1 . t ,P TYdpvg f"P.l}4' Furu%Balancea(Dat), Ju�Ya i as restated' A, 1'9,227 `. (26b,,382) (269,609) _ x t' f Y f F ie f l °:�t YA Yt IIY ).a `ss .4v �•.:. `VVP'... Ju Fund Balance (Defied)' �Se'3i) ° "` ' $ 64,072 ! $ 28 005 $ 36,067) ; ( c r e , ■ 66 r ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Circulation and Transportation Special Revenue Fund For the Year Ended June 30, 2001 3': $ 170,967 1 220,037 62,787 112.875 Expenditures:. Current. rpublicworks - 241,699: '. (241,699) C,apital,0utlay wY, 777,169 '568,507,, 208,662 1,724, Total Expenditures ; 777 169 B10 206 ' (33,037} "°1,724, Excess (Deficlen6y of Revenues ns Over *(Under }Expenditures . _ (777,169} 5056 869,225 1,187,4 FundBalance July f, as previously reported 5,059,496- 5,0:59;496 "i - 6,226, Restatement 101,1303 ;101`,803 Fund Balance, July 1, as restated 5,059,496 5;161,299 T01,803 6,226; Fund Balance June 30 $ 4,282,327 $ 5,253,355 $ 971,028 $ �5,059; rii r- 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, 2001 r 2001 2000 Varia nce A '. Favorable Budget ,. Actuai ! (Unfavorable) Actual Revenues: ■ Licenses, feesfan[i; peirmits $- 250,000 $ 329F206. ; , $ 79,266. $ 322,859 Revenue from use of money, and*perty 5,000 54,448 49,448 r 24,280 Other ._ • ' ' -='' _ 644 ■ • - Tp}si1 Revenues 255,000 383,654 128,654" ' 347,783 ■ Expenditurest tsapital outlay 352,836 270,922 t 81,914 313,666 Excess (Deficiency) Ita of Revenues tTJBr I. , fl .t NS 4 diCS C.. Y. Expenditures (97;836) ••1:12 732 210,568 ppe Rfl'.r 34,i�7, Js •�l)nder) x Y FU1tl Balance Julytl 3 ' 5y8' 1 408 547,Zp ApX„ 4 8 ,Ei CR b {uHIx'YY# HIk. S :', £ Y • 'Z""" V; 'RS Restatement «k a f. 11233 11,233 fry rp. Y Y7 � Fund Balance July I. as'restated 581 408 592,641 11•,233 547,291 Fund`Balsnce, June 30 $ 483,572 $ ;. 7175,373 "` $ '221,801 $ 581;408 -y f - r ■ ■ ■ 68 ■ ■ ■ ■ ■ ■ ■ i ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes In Fund Balance. Budget and Actual Combined Transportation Special Revenue Fund For the Year Ended June 30, 2001 2001 Variance Favorable =1I Actual t Revenues OVdKX 1,656,226 ',. 1,674,295` ." Jndef) Expenditures'::: :.' 18;81.0 (8 '967)", (26,777} "' naneirlg Uses" (8,76) z. ling transfers out r, ,. 6 x xzxrn �rv.• rsa 3 ... 3fir `a sxaas , ass (Deficiency) of Revenuesd 18,069 Fund Balanee,;July 1, as restated __' 1,656,226 ',. 1,674,295` 18,069 Fund Balance,4 ur}g20 $ 51,673,036 $ 1,664,328, $ (8,76) M., 977,112 39,054 9,514 1,616,463 $ 1,656,226 CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Arterial Highway Rehabilitation Project Special Revenue Fund For the Year Ended June 30, 2001 70 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 2001 2000 -variance Favorable =- Budget_ Actual ,(tJnfavorable) Actual Revenues: Intergovernment_at revenue $ =, _ $ 446 4135 _$ 448,465 $ 570,727 Expenditures Capital outlay 566,828 Excess (Defrcienc„) of Revenues MerI(l Jnder) Expenditures = 446,465 446,465 099 Fund Balance July,1 as plavtousl� reported 3,899 3,899• - Restatement = '(44,6,465) ? (446,465) - Fend Balance,(Q.,eficd) RJuly,1; as restated (442 568) (446,465)" 6,6 -.,3;8pg i 1 M1IY {kM1 V p {IeAI 3^ k A .. FUnd Balance June 30, `a . $ :' >° 3 899 $ 3 899 $ $ 3 898 1 II Wf 5. R � 'Y 1 KIiYk 29W6R YA f Ni4 VWA3bi5 i tl� i r 3iYYPT: ,k, 1. 3 %R �1 fl .x SS '� Aevr d 70 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 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, 2001 �Fmmunjty'developmen 303,526 288,461 bccess (Deficiency) of Revenues Onditur6s., i, Over (Under) Expenditures 191,474 140,,539 (44,935) Balance, July I 'wi,previously reported (543,571):" (543,577) Balance (Defici restated (543;577) (543,577) I 1 1, 'k 0' $:�;,191,474�1��:' (W511 2) " 71 KM Actual I Revenues: CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes In Fund Balance Budget and Actual Ackerman Donation Special Revenue Fund For the Year Ended June 30, 2001 72 2000 A— #....I 8,500 185,000 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 2001 ;.,., Variance Favorable Budget Actual (Unfavorable wuse of money ' y $ f5,000 $ 17,721 $ -; , 2,121':-4 185,000 18,5,0021 ' avenues X200,000 20,721 "" 2711 k. y sttG+3s 261 193- 24Q,648 20,545, e9616 6c') nuesP er. R a Exytenditures (61,193) 1: (37,97) 23,266 aaa�i.LL k iai 5 i 5 Idud MJ p� d .r ', a 227 676' liar 227,6 6 Ju►y ppas,prevlouslyreportedi , if .xPp p.. Y 1 '41I k, ern a.: v'..; V 1933 3,933, it !, e' July 1, as restated 227 fi76 231 6Q9 3,933 June 30,'„ $ 166483= '$ ; 193.662 $ 27,199 $, . 72 2000 A— #....I 8,500 185,000 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ a S CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes In Fund Balance Budget and Actual Air Quality Management District Special Revenue Fund For the Year Ended June 30, 2001 r 1111 Actual ntal revenue $ 75,000 $ '84,119. $ 9,11 -9. $.. 81,636 use of money 5 000 9 857 " 4 857 a ae n er I Revenues nditurw -. in'ent: Public works Excess of Revenues „ r Excess,(Deficieacy) of Revenues Over (Under) Ezpenditur'es and Other Uses- � 16,375 12'456 � � (28,831) (32j67) Fund Balance, July 1, as previously 112,116' : 11`2;116 144,883 Restatertlgnt 2,102 2;102 . Fund Balance-,A$y 1, as restated _ 112,116` 114,218 2,102 = 144,883 f Fund Balance, June 30 -' - $ :128,491 $ 109,762 $. •(28,729) $ 112,116 73 Over Expen'dttures 1 16,375; 5 53,178 ° °• 36,803 1 12,233,. r O Other Finaneing ■ O O nperatmg•trasfes 3 34 ( (¢5,000); ■ ■ ■ CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance ■ Budget and Actual Environmental Liability Special Revenue Fund ■ For the Year Ended June 30, 2001 ■ 2001 2000 Variance ','':Favorable 1; Budget Actual (Unfavorable Actual ■ Revenues: 1 0: - ,' Licenses, fees and- it 156,90 APT) s q55 $ 223 6551 390,005 Revenue from use money and- property -30,600 09;064 _69,064� Total es 0M4, 472,719 292,719 390,005, Expenditures - - --- -- - - - --- ---- --- -------- ■ Current." lic Works Excess of Revenues ■ Ver.Expendiju 180'000- 472719 292,719 '390,0,05 Y1. SYY U B Fun Balance, July 14 0 1 , 05,36§�. 1005 386 ' 615,381 4 F6nd,13alarice June 2 2719 386 478 1015 9 1'r 05 '0 ............. T ■ % ■ ■ ■ r ■ ■ ■ ■ 74 ■ ■ ■ ■ CITY OF NEWPORT BEACH ■ Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual ■ Supplemental Law Enforcement Special Revenue Fund ■ For the Year Ended June 30, 2001 ■ 2001 ■ Variance Favorable ■ Budget Actual (Unfavorable ■ Revenues: ■ Intergovemmentallevenue, $ 165;000 $ 164,028 $ (972)• ' Revenue from UM of ■ money, and property 'Z'900 1101.9 (3,981) ■ T, atal`^Revenues 170,000 165,047 ■ Expenditures: ■ Ptrbl Safety,. 161,000 176,457. "` (15,45 ■ Excess(Deficiency ) of',Revenues Over,(Under) Exllehditures ■ and Other Uses" - p 9;000 (11,410) (20,410) . Fun(t,Balance, duty 1 11 ;410 11,490 ■ ICI` 'a C Xk V 1 I Fund Balance; June 30 $ 20 410 $ $ ,(20,410)• ; ■ ■ i ■ ■ ■ ■ ■ ■ ■ ■ 75 ■ KI i Actual 164,608 ■ ■ ■ CITY OF NEWPORT BEACH Statement of Revenues, Expenditures and Changes in Fund Balance ■ Budget and Actual Miscellaneous Grants Special Revenue Fund ■ For the Year Ended June 30, 2001 ■ 2001 2000 -variance ■ Favorable `Budget Actual (Unfavo-r'a,'bif I p� Actual ■ Revenues: .: ■ Fines, forfeitures and'pe6alties, V ,, 61,162 1, < I� 53;413 (7,689) 4 61,102 Revenue from use of' money and ofterty X3,772.3,772< Toth Revenues '(31 ,185 (3,97) 61,102 „ ■ C P. 1,02- (11;081) 6blic saf6ty_ �61,A 72,1916 "(Deficiency) of,00vehl)”' (Urtder)ExoenddU rpm, (14968) (14'968):' (11,014):1 Fund Balance July ll.i k�� f4,968 14,96� 25,982 F66daalanoe, June 30t $ 14,958 IM9� 'X ■ ■ % ■ ■ ■ ■ ■ ■ ■ 76 ■ ■ ■ ,� __ ;��, ,,-_ �` i �. � ,, �,; r �* �. '�l `'� :ifY� 1 J ��► CAPITAL PROJECTS FUNDS ■ ■ Ll Capital Projects Funds are used to account for resources used for the acquisition ■ and construction of capital facilities by the City, except those financed by / Enterprise Funds. City of Newport Beach Capital Projects Funds are as follows: ■ The Assessment District Fund is used to account for the receipt and expenditure of funds received from 1911 Act and 1915 Act Assessment Districts for capital improvement projects. ■ The ClOSA Construction Fund is used to account for the receipt and expenditure of ■ funds for the Circulation Improvement and Open Space Agreement (CIOSA). The improvements include street and frontage improvements. / The Bonita Canyon Development Fund is used to account for the receipt and ■ expenditure of funds for the Bonita Canyon Public Facilities Agreement. The improvements include certain public parks and recreation facilities, and street ■ improvements and facilities. The Oil Spill Remedladon Fund is used to account for the receipt of the settlement ■ proceeds from the American Trader Company. These funds must be used on projects affecting the areas damaged by the spill. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 1 p .r i 3t M1A M1nry A ;XI. IVY' This page left kblahk intentionally'" "', gll'. 1 r• Ir nyt ■ tl 1 . �, .�; "...... I:1 n.. n!' u t r ... r ■ ■ ■ ■ ■ ■ e, ■ ■ ■ ■ ■ ■ 77 ■ ■ ■ CITY OF NEWPORT BEACH Combining Balance Sheet ■ All Capital Projects Funds June 30, 2001 ■ ■ Assessment CIOSA Bonita Canyon District. Construction Development ■ Assets ■ Cash and investments 1,392j308 $ 309 $ 473 ■ Accounts receivableand accrued revenues .,. �..._ Restricted assts cash and investments • � 429 � 2,387,946 ■ ToiaFAssets $ 1,392•;308 $E 5;023,738 $ 2,388,419 ■ Liabilities -and Fund Balances`= ■ ° ' Accounts payable and accrued liabilifies; . , $ 245,288• $ 917 � $ 456.608 Que to'dther funds ■ -' Total Liabilities c" 245,288 917 456"&Q8 Ftind Bafapces: '� ' m p , ■ PIx ,Reselved for encumbrances., 1,041;480 33,390 1 486132 Unreserved: -,g ■ Designated foh special projects 105,540 4,989,431 465 64 ° Unreserved �undesignated I ■ s �i� Y'n n V ^VV a '.fl YYtM1 1... Tota'4 Fund Balances` <° ° •. "• ,� s ten " ,1 147;,020 r '' 5 022,621 1 93e18�t`1 ■ Total!Lia6ilities and Fund Balances $ 1,392'308 $ .5;023,738 $ " 2 388:419 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 78 ■ Oil Spill Totals Remediation 2001 °24pQ $ 5,780,118 887,855 -'° 525 ' - 2,38t,376:` $ 5180J118 $ 1398J583 $ "7,587,653 59,973 $L 7ii2,786'- $ 839,923` 404,182 59,973 . ' 762,786.` 1;244,105 ^r, t '.52,808 i' , : `I 2 593 815, 5,623,043 �•0 5 067;`337 A 4 ' TO 627 982 619.594° ' (99089) cK� I k ' ( i t 5 120,145 •13';2•21Mr,'7Nq 9iti� 6343 I4 7 ,548 r� $ 5.1 0.1• #8 $ °.13 98 58 4 $ 7,5$x.653 - v 6� i0'P e , , n 79 ■ ■ ■ CITY OF NEWPORT BEACH Combining Statement of Revenues, Expenditures ■ and Changes in Fund Balances All Capital Projects Funds ■ For the Year Ended June 30, 2001 ■ Assessment CIOSA Bonita Canyon District �Coniieijcfion Development ■ Revenues: Revenue from use of money and property i$ rA 693 '460,519 Contributions 1,969,981 A,836:720 Other 1,459,781 ■ Total Revenues,,` 3j428762 4,901,413 .,460;519 - ■ Expenditures Capital -,C a 2,182,653 765,1103 -.-: l'4,084,834. 'Excess (Deficiency) of Revenues. res er (Under) Ex pen i d'W'- 1,246,109 4,136,810 (3,624,315) ■ Fund; Balances (Deficits}, July 1t (90,066) 686 51 -i: 5,556,126 Funo.polan ',dpeficits? ces 'j 9. 4- 5! � $ 11'147,0�6 $ 6,&2,8 f'X fi4H ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 80 ■ $ Oil Spill Totals Remediation 200 2 276,132 $ 8111344 $ 595,1;53 ,,6,806,701 85,484 5,188,774 , v �8 647 555 5,484 90$ ? 14,255,666` 680,637 ,,344;761° 7,377,3.551, 5;120,145. 6878;249 (720;234) 6,343,548 ' 7,063;782 5185; $ ,Y13221797 $ 6,343;548 aaa, t i PP yl�xe'..5 II YdP i a8 tlYN ep 1 <.� ".,IY p Yr 111 YYI ' 1'41t ' % 0•Y:. a AP f f " Y If VCYNY'. 1 �pp.. 'ICYI•e •A:. e e . %k,k 81 82 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ __ _ _ _.. -_ --.... "'.T.1..'. .. - rv'r�" � ..'.i� . ' rr'�. v' .+.^ :ae �,�. 7..s '. �. � Y�C MS(� �.11 H _' J l Z�~� _. � ..R �,�., } _, �� _ y,._�� e!d ti ENTERPRISE FUNDS Enterprise Funds are used to account for City operations that are financed and operated in a manner similar to private business enterprises. The objective of segregating activities of this type is to identify the costs of providing the services, and to finance them through user charges. City of Newport Beach Enterprise funds are those listed below: The Cannery Village Parking Fund is used to account for the revenues and expenses of operating the Cannery Village parking facility. The Water Fund is used to account for the activities associated with the transmission and distribution of potable water by the City to its users. The Wastewater Fund is used to account for the activities associated with providing sewer services by the City to its users. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 1" V ➢� Y "' Y ■ YfM1' n..di r y '. 1.4i. i� Y is + !i Y "1R ry vl Yx Thisk blank intentionally:;: " pageJeft � YYa. YYWYi 1 p he e.. Y 1 <nYY nne � r 1 +nr 1•��11 < r �• i MO Ile i�l �k f ■ ■ ar ■ ■ ■ ■ ■ ■ ■ ■ ■ 83 ■ Assets Current Assets: Cash and investn Accounts receiva CITY OF NEWPORT BEACH Combining Balance Sheet All Enterprise Funds June 30, 2001 Cannery . , V,illaae. $ $ enues- Water Wastewater $ 3,178,451 431,498 1,039,163 2',016,450 107,471- 65;477,001 34,884,914 627,374 ` 43;797 niulated depreeiatiane' �.' (54,691): ' (2$,074,123) `'! 124,318! Net:FixedAssets 11091,943 ;:- 44,046,702' 10',610, Total Asset 1,091,943 •and, oodEquity Liabilities I .e n «� unts; +;payable antl accrued liabilities 1,;625,712 $ 9, ued payroll 92,735 26, too3tierrdstlr` " + a, rfutsaF ,1 24,338 ,n� �si raop +Ii "v' aA tlr a1 tltl'. r, I� ued interest p�yal6le " °'° � " � " " ,: ��z55,114_ Is navahle - current - y� ..... 14.rn 000 Retained earntn98';,: 967;605 45,104,546 5 Total Fund Equ 967,605 51;149,490" Total Liabilities and 84 9,758,953 14,170,794 14,220,176 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 2001 2000 $ 22,515,819 $I "16,099,543 3,898,529 3,_1963;666 1,451 ;5,W 7,466,971 275865,883 "21,530180 , 3,0195,61;3 30556131- 101,46$;386 101,440,412" 671,171 .— 871,1771 ` (52,447,298) `(50; &95,5641:. 52;748,872 _•. , 54.471.632 $ 80,614,755 $' 76;001,612 , 17777] � f 1. 7 il iAtp .,1rR645 348" '$; 786,358 a; 122 457 ° y • "103,744' ` r , v A 24 338 243.495 A A "i$4 "609 , . 1 81 842 l s 4 Z55,1�4, 27583¢;' °'< ' 1,15,000'+ 1,k05.000• ^� °a. 3,376,866', > 2,598 275 °10,950,000 12,095,000 ,14328866.; "'• 14;691,2,75 15,843, 897 '-15,803,89,7 50,463,992 t,. 45;606,640 " 66,287,889 `" .?` ,61,310,537 ` $ 80,614.755 76.001812 M, CITY OF NEWPORT BEACH Combining Statement of Revenues, Expenses and Changes in Retained Earnings All Enterprise Funds For the Year Ended June 30, 2001 Cannery Village Parking : f, :Water Wastewater Operating Revenues: Charges for services $ -• $ 18,722;539 $ 2,917,913 Contributions' Other 119,157 701968 15,391 Tp tal�Qperating�evenues "119,157, , 16798,507 X2,933,304 ■ Operi ft Expenses: Purchase of water 4,762,424 . Salaries and wages ;• , 2;532,177 852,242 ;. 4epreciation 4,299 1,280,476 778,284 . ,F)Pofessional services: 1,454,084_ _ . 314,653 Mainfenange and sgppties - 861,690 28 (,353 Systems "maintenance 908,308 413;762:, ;e :'Other 1;265,437 136,201 . Total Operating Expenses 4 299 .: 13,064,596 2`776,915 Operating Income (Lots)'.,, ., 114,858 ." 3,;733,9.11 ,156,389 „ l Nonoperatmg Retrenues;(Expenses): 1. Interest income 1 dt; 1 416 679 214,287 Loss "oh'sale of'fsietl assets (35;665) r' ", Interest ez+ense "d '," (510 225) i "E .j)nviistment4ecbvery Total Nonoperating Revenues (Expenses) 530,58,8 214,287 °' i � ;Net Income (Loss) x 114,858' ° 4,201,499 370,676 Retained Earnings, July 1, as', previously 852,747 °,. 40,651,451 4,002,442 Restatement 188 596 38.723 Retained Earnings July _1, as restated- 852,747 40,840,047- 4,041,165 pN, . Retained Earnings, June 30 $ 967,605 , r S A510+t 546 $ 4,411,841 86 __j Totals 2001 $ 19,645 452 f •$- •19,820,729 102,864 205,516 ` 142,679 19,850;968 20;066,272 4,762,424 5,1 65,205 3,384,919 3,52,021 - 2,062,979 2;204 638 ' 1,768,737 ' 1;753 384' 7,143,043 , „[;. , 857,785 s - 1;322070. 1;531.591': 1,401,638, 1,264,659 15,845 810„ 15,929,283 .J 1,630,965 ,,,. 592,528 5 865), E5 a f 480 (5'10225)' �a: "(551;688} 1,835,563 , r 744,875 1,876,903 4,750,033 • 6;.013'892 45,506,640 ,. 39,492,748 ,227;31.9 45,733,950. : 39 492,748 $ 50,483,992 14'45:506,640 87 CITY OF NEWPORT BEACH Combining Statement of Cash Flows -All Enterprise Funds For the Year Ended June 30, 2001 Cannery Village Parking Water Wastewater Cash flows from operating activities Receipts from customers , fir$ ` • $ 16,803,074 $ 2,910,282 Receipts from contributors - - Paymentstoemployees i(2,515671).. (850,635) Payments to suppliers :;: - (8,397,856): -; (1,161,788) Payments to other funds �;, "' ' .' , (119, 7 57) -= - " • • - •1'.5:391 Otheroperatingcayh�reriepts 119;157 ;7,968 Net cash Of Ided for operating`actiwties - 5,960,6115 913,250:. Cash flows ftonii capital and r41ated " financing .activities: „ - Acquisition of _capital assets (636,7311) ° - (134,808) . Proceeds from sale of capital assets , : °„ - 55,455 ,., Pnticipal payment (1,105;000).` c.. :. ”- tntsrestpaid (510;225)' - Net cash used for capita! ' .:. and related fnah" activities (2 198,501] (134;808) Cash flows irortr3tnvesting adlrwties: �s interest on investaients ! '1416,678', '214,267 Investment recovery - - •t • •• Net casirpravided4or investing activities . �.; , - -. - , ' :, `:. 1,416,678 214,287• ' Net increase m cash and caskequivalents ,:•'5180,792, 992,729 Cash aridi6ish egmve[Atsy' July 1 as restated ; �+ •, A56D8,111.., 2,195,722 +' Cash and,cash, egmvaients �Jrre 30 • ::; �., $ !, $ 20 788 903 '; $: 3,178451: (including Reconciliation o1' operating income to net cash ' prided (used), y operating acbvities:; Casheflows from operating activities -;- Operating income ., $ 114;858 ' $ '3,733.911 -r- $ �' 156,389 Adjxstirlgnts to reconcile operating, income, to,net`cash provided by operating 'activities':'' Depreciation , „- r• ” 4,299.'- 1,28G476 ,.,. 778,204 .;.. - Char m operating assets and fabrUhes:- (Iruxeas , decrease„ in accountsreceivable. • °'� °` - "= 72,768,; -: (7,631]` -' Inc (0ssXdecrease)in,sogountspayable _ 874, 409 " (15819)^ Increase naccrued payroll'-, J6i606 2.10.7 (Decrease) In- accrued interest payable s - -' - (20,722) - Increase(decrease)irf due to other funds _ Increase (decrease) 11 deposits ` - 2,767?" =_ Total adjustments ` (114,858) .:2,226:704 ; 756,861 Net cash provided by operatingiacbvtbes $ ; "5960615 $ 913.250 Noncash investing, capital, and financing activities. Disposal of foxed assets $ - $ (742 565) $ - 88 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Totals zont z000 $ 19,713,356 $ 20,196,890,•, 1,02,884 (3,366,206) (9,559,644) (11,205,222) (119,157) (91,382)' - 205,516 ° , 142,679 - `° 68731865 ..„ _ 6,011,758 (771,539) . .•(843.050). `-- _:,.., - '., 55,85 (1,105;000) ' (1,025,000) - _ - - (510,2251 (2,331,308) (2,419,2381 -_ 1,630,965 592,528 . ,'. 1,$35,553 1,630965 " 2,428091,- ",.. r,. 3 n� I 8173,521 6,020,611 '• " 17.793,633 11;545,903 �$ 23$67,354 $ ,•g 17;56651a ,f °, ` tit) t J Y1 �` 1 e pYl• 1 lY 11 `1. ... 1. �•. .. e.. •• Y Srl F `( 11 i9p.ry. $ " 4,005158 $' 4,136,989 2,062,979 204,638 • »� 65137 388,365 8588 (614,153) " i8T13. 17,950; (20,722} , (1.8•'1481 - , (119,157) - (91,382) -` 2,767 (12,203) - 2,868,707 1'874769 $ 6873865 $ 6,011,758 =. - $ (742,565) $ (448,000 LO m ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ` '�:fii.:: �fL a INTERNAL SERVICE FUNDS Internal Service Funds are used to account for the financing of goods or services provided by one department to other departments of the City on a cost reimbursement basis. City of Newport Beach Internal Service Funds are listed below: The Insurance Reserve Fund is used to account for the City's self- insured general liability and workers' compensation program. The Compensated Absence Fund is used to account for the City's accumulated liability for compensated absences. The Retiree Insurance Fund is used to account for the cost of providing post - employment Health Care Benefit. The Equipment Fund is used to account for the cost of maintaining and replacing the City's rolling stock fleet and the rental of the fleet to operating departments. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 1 ' parfn[ 1x1 3 alp u xV� "1 ■ ° rs r; "" ' ° ° "' This page]. 4blank intentionally a , ■ '1� e�iw'0 rn as rl an ei iil rrav 1� r oee a i�.i r`ri 1 ..Ei s R rl 1 r s1 ■ ■ ■ ■ e ■ ■ ■ ■ ■ ■ ■ ■ 91 ■ Assets Current Assets: Cash and investr Accrued revenue Leases CITY OF NEWPORT BEACH Combining Balance Sheet All Internal Service Funds June 30, 2001 Fund Equity: Contributed Capital" Retained Earnings (Acd6i Total Fund Equity gbb'oQo Insurance Compensated 90Q,000 Retiree A098,814.... Reserve : ...... Absence Insurance 6,906,202 tAtS $ "'6;492,578 $ :1;209,745 $ 887,613 1-,000,000 795,851 id, PJ93,488), 5,658 trials and (6,596,457) 893,271 Assets 6A921578. 1,209:745 893,271 ;ets $ 6492 51 1,209,745. $ 893� 271 77 f:Equity ,:, aiid liabilities 14,903 $I 5 V, 6,01, 6Wn—"tUrredt, 2AM00(l o�AAU, A, nr6r—Tt ...... Fund Equity: Contributed Capital" Retained Earnings (Acd6i Total Fund Equity gbb'oQo 6i 90Q,000 A098,814.... 6,906,202 6,765,150, 6,906,202, z40,28066 7,806,202 1-,000,000 795,851 id, PJ93,488), (7,596,457) 97,420 (6,596,457) 893,271 Total Liabilities and Fund Equity $ 6.492.578 j_ja09 .745 $ 893,271 92 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Totals Equipment 2001 2000 ■ $ 5,463,534 $ , . 14 053,470 $ -..; 5,899,365 ■ 5,327 10,985 8,037 ■ 191,561 -. 191,561, -- 108,463 ■ 566042' 14,256;016 6,015,865 ■ ($32,023,.--- -. 13,632,023. , 12,829;947 7,421,687 .� .(74216$7k (6,522,500) ■ 7-77 77-77 � ;' 6,219,336 6,210;336 -.` 6,307,447 ■ $-1.11 111,876, ,,$ 12,323,312 ■ $ :n 68 454 r =$ r" 83 359 $ 237,803 Apllf r„ "31;536. „ , 87,847 65,467, y y 474 644 ' 474,644 611 385 :kr " 2,100 455,00© ■ ,00021 "'... 1;350;600 M650,000' ` 900.00Q'+ 850,000- ■ 574;634 `. 4995;550 - :;;4,869,595 ■ $ 429,699 ` 429,699 = 441,852 4,'098,814 - 4,535,174,- - 2,666,336- _ 2,637,258 ■ 6,906,202 6,509,810 429,699. 14,101, 051 14,124,094 ■ 1,004,333 19,096,601 18,993,689 5,997,648 --7,791,4W_ 4,097,648 ■ 4,868,777 (6,423;7A8) - (1,0,768,025) ■ 10,866,425 1,369,751 '(6,670,377) ■ 1 11.870.758 $ 20.466.352 $ 12.323.312 ■ ■ 93 ■ CITY OF NEWPORT BEACH Combining Statement of Revenues, Expenses and Changes in Retained Earnings All Internal Service Funds For the Year Ended June 30, 2001 (Loss) Before= sting Transfers '__ 2077 148 (23647 Net income (Lassjt:., Retained Earnings (Accumulated-,-- ., Deficit), July 1, as previously reported Restatement Retained Earnings (Accumulated Deficit), July 1, as restated Retained Earnings (Accumulated Deficit), June 30 21077,148 (236,647) 97,420 (13,263,735) - (7,359,810) $ (3,793,488) 1 (7,596,457) $ 97,420 M ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ...:...Insurance::: Compensated Retiree „ .Reserve Absence Insurance Operating Revenues: Charges for services $ 5,469,146 $ 1,228,897;;,, $ 1,075,606 Licenses, fees and perm it-s Other 561 Total Operat dkevenues ., 5,469,707 1,228,997 1;075,606 Operating Expenses: Salaries and'wages = Depreciation = Professional services Mairttenance and supplies Fet.parts aiid supplies -- W6*ers'- compensation = 21103,236 Claimsandjudgments" = 1,352,759 Disability 3$9,487 Compensated absences . 1,547,506 Retiree Insurance 979,768 Total Oeretintg;Expenses. 3,795,482; 7,547,506 979;768 Operating lnc§nW (Loss) i 1 674 225 (34,509) 95;838 o operating Revenues (Expenses) ,, 'ItnteresLlncofne ' „ s „ ;, 402 923 8];$62 1,582 "~Gain on saleof fixed "Interest expense " pb� x {fe g fr h 'L9 it „ -'<< TotalNonoperet "ing,Revenuas, " 402,923 81,862 1;582 (Loss) Before= sting Transfers '__ 2077 148 (23647 Net income (Lassjt:., Retained Earnings (Accumulated-,-- ., Deficit), July 1, as previously reported Restatement Retained Earnings (Accumulated Deficit), July 1, as restated Retained Earnings (Accumulated Deficit), June 30 21077,148 (236,647) 97,420 (13,263,735) - (7,359,810) $ (3,793,488) 1 (7,596,457) $ 97,420 M ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 883.888 863,888 9,13.492 1,427,4`63 1,427;403 1,3703,78 07,195, —871 45,444 05,152 195,152 ` " 511,721 302,871 302,871• 300, 193 2,103,236 1,328,403 1;352,759 1,788,555 l •;, - 339,48y'�. 104,165: 1,547,506 979,768 1,292,220 „ 2,876,509 , + +;'9,199,265 7,654;569 1 <,t56,073 2,607,827' 2,274,7851 �= 305,627 "� "i" 791,994 103,695 « « 80,407,',.�d' „y 80,407 ; 165,095 • (56,776); (56,776) (51,D24 };? 815;625 2`17,766 ” 1 1,85,331 3,423,252 , 2,492,551 873048 :873,049," 2,300,000, (250,000) . 873,048. ° 873,049 :,: 2050,000 2,358,380' •, 4,296,301, 4,542551 2,495,710 (id 768,025)„ (15,310:576) 14,687 47;976:. 2,510,397 (10,720,049) (15,310,576)« $ 4,868,777 $ (8,423,748) $ (10,768,025) 95 CITY OF NEWPORT BEACH Combining Statement of Cash Flows- All Internal Service Funds For the Year Ended June 30, 2001 Opera181g income (loss) "' +'P ,' $ ; 1,674,225,1 J318509I a :95.838 Adjustments toxecondle operating income (loss) . to net r�i&4 prb`,v�ded by operating actinties Depreciation t. Changes In operating assets and liabilities: (Inctease)tletx @ase in accrued revenue 7987, "_ - - - ,:(6658) (Increase) ih mvarlorjes of materials and supplies; at cosy„ `' - ,.. - •- :'' _° Increase (decreASet(ri'accounts payable .. (33,366) Increase (decrkesse) irTacvdyied payroll 201939 Increase in worker's odrtipensetian 208,640 - (Decrease) in general liabilHy ?. ^ (270,922) - Increase in compensated absene� < - - 448392. Total Adjustments < ,, ;'�'(�G,722} !:• -- 448392 -° s ,� (5,658) Net cash provided by (used for) operating activities Noncash investing, capital, and financing activities: Disposal of fixed assets - - Acquisition of equipment by capital leases Total of noncash activities 96 ■ ■ i i i ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Insurance C Compensated R Retiree Reserve A Absences M Medical Cash flows from operating activities Receipts from customers $ $ 5,477,133 $ $ 1,228,997 $ 1 1,069,948 Payments to employees t t 20,939 - -. 446,392 - - Payments to suppliers j j3891130)_,', ( (1547;506) ,,, ( (979,766) Other operating cash reciepts 5 569 Net cash provided for operating ac6 siflas. ' ' "u 1,607,503 1 127,883 : :90:980 Cash flows from rloncepital flnsndrig;activities Operating transfers fir ctheriurids - - Operating transferilb blher funds.,.,. Contributed Capital e " •� - - 1 1000060 ' '195,8'5411 N Net cash prodded by (used fort - - ndnoapflal financing activities ` ` ^ 1 - 1 1,000,000 795.851 Cash flows from capital and related finanolho activities: Acquisition of capital assets , - - ,F',ropeads from sale of capital assets " iZ`r al paylom " - " e - " Net cash used for capital and related finkg acb`/iaes Cash flows from investing tNities: (k.,, �' Interest on invesbnenb' 1, �'„ 4 402.023 8 81,862 `, 1 1,562 " Net cash provided for inioesting activities; 4 402.923 . . 81:882 1 1,562 "ipnn Netjncroseinoa!th "and cash equvalents ° � � 1,12010,428• 7 7209 746 : :887,613 bash "and cash equivalents July 1' pis restatod 1 14,482:152 , , < Cash and cash 'e ,.. a �2 ,.,,, $ � 6'492,578 ' I'S 887 ReCIXSdfliation of op"" fing income to net cash provided`lysed)by "operating activities: "( " " " " "" Cash fl,we4rom operating activltie`s, . .., Net cash provided by (used for) operating activities Noncash investing, capital, and financing activities: Disposal of fixed assets - - Acquisition of equipment by capital leases Total of noncash activities 96 ■ ■ i i i ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Totals EqulpmeM ■ $ 3,998,345 $ 11,774,423 $ 9,915,625 (662,688) (395,357) (514,618) (789,394) (7,207,798) (5,366,394).. 28.960 29.521 8693 2.375,223 4,200,789, - 4164066 ■ 873,049 , X73,048 2,300000 MUM, ■ ■ 2.773 049 • 4.568.900 2:050.000 •.. -:. -.< " ,_, ,. -;: ■ (991,822) . (991,822) (ir125936) r. 114 1D61 11d,10&,,;- . =166 f09 .. :. 1524,0627 ■(51.062) {56,776) ,' (56,7761 ^151.02A)" ■ {1455,554) (1 455,5641 '(1,623.245) ' ■ `P P, dPe305827P 7911 9G4 ..103,695 305.627 _ ,78199b '.103695 r(n)3,998345 8106129. 4,571756" ■ 1 465 189 5947 341 1327609 k i f i x.463 634 $ , 14 053 476„ P n (� 5.899 365 " "" " �' "•" ` 3 e "« ■ ■ $ Otik't673 $ 2607627, ,$ 2,274,785 • 7,427 403 ',` ;_ 1,427,403' .. 1,370,376 ■ - (5277) (2,948) (5,036) - . (83098) •• (83,098) (36,187).,. (121,078) ;(154:444) = 27127' - 1,200 ; `22139: "' (40,425) ■ 208,640- , 272,812 - (270,922).; (261,445) ■ - _ 446,392' =439299 1,219,150 1,593,162 ,.1;766,521 r 2,375.223 $ 4.200.789 4.041.308 -- ■ (561,915) (561,915) 372,169 372.169 ■ $ (189,7461 $ (1897461 $ ■ ■ 97 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ i ■ ■ ■ i A. 6 ■ YY 1 Al Y 1' -. R i This page;l,eft bla' k mtent,ionally' ,i ■ ■ ■ i ■ ■ ■ ■ r ■ ■ i i sa ■ i "4 l ■ ■ AGENCY FUNDS ■ ■ ■ Agency Funds are used to account for assets held by the City in a trustee capacity, or as an agent for other government entities, private organizations, or individuals. City of Newport Beach Trust and Agency Funds are listed below: ■ The Special Assessment Fund is used to account for funds received from affected ■ property owners and payable to holders of 1911 Act, 1915 Act and other special ■ assessment bonds. ■ The Special Deposit Fund is used to account for special deposits held by the City in its ■ fiduciary capacity. ■ The Business Improvement District Fund is used to account for monies collected from local business districts for district property improvements and business ■ enhancement. ■ ■ ■ ■ ■ ■ ■ ■ ■ r ■ ■ ■ ■ r ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ m 11 1.R 1 1 "This pageaeft blank intentionally.,,) 11 1 f 4 1'sl YY f Ct A "11 3f"F" 0'4 f1 n r • .,.ter n .. Yt y m 11 ■ ■ otal Liabilities 3,577,704 $ t $,556;472 $ 273691 ", $ CITY OF NEWPORT BEACH Combining Balance Sheet ■ All Agency Funds �, ■RA M1' June 30, 2001 utti �f' ■ , Itr r. ■ ■ Special Special Business ruA t. 11 Assessment ■ Deposit Improv. Dist. Totals C1. ,I Fund "Fund' Fund, � , 1 1 It k 1 YI YY�tn } yk ■ Assets: v tr& Cash and investments $ 1,858,344 s, 3,556,472 $ 273,691 $ '5,688,507 $ 8,733,750 ffx Restricted assets cash ,f' f rrd and investments, - 1,71 9ti3w 11719,360 - 1,714,885 `` ■ ■ Total Assa #s , 3 577,704 $$' ='36 472 273,891 $ 740�7 867 ; $:, 10,448,635 ■ r ■ Liabilities. ■ ■ Due to, bprxlholders $ 3,577,704$ $ _$ Q r,4 A79 a 972 A61 " .. 3,577,704 , Q 91n 1 Rk $ :7,454,494 9.00'd idi ■ otal Liabilities 3,577,704 $ t $,556;472 $ 273691 ", $ 7,407,867 $ : 10448,6$5 ■ �, ■RA M1' #1 IIVx f utti �f' ioor I+ , Itr r. ■ r t ruA t. 11 Alii ■ x'I tr Y x a 1f C1. ,I Ipt IIf l 1 IY� 1 � , 1 1 It k 1 YI YY�tn } yk v tr& 1 e f ,f leP ffx ,f' f rrd ■ ■ ■ r ■ ■ ■ ■ ■ 100 ■ CITY OF NEWPORT BEACH Combining Statement of Changes in Assets and Liabilities All Agency Funds For the Year Ended June 30, 2001 101 Balance Balance June 30, 2000 Additions Deductions June 30, 2001 Special Assessment: Assets Cash and investments, $ 5,739;609 , $ 2,47.2,783 " "' $,(6,354;048) . $, 1,858,344 Restricted assets =cash and investments' 1,714;885, : 95,404 (90;929) -11J,19,360 T6ta(Assets $ 7,454,494. . '$,2,568,187 $,(6,444,977Y' 3;577,704 Liabili Du e ,7, , $2,568,o 187 $(6,444,977) $. 3,577,704 SpectaMeposit: Assets ;Cash and investments,., , $ 2,798,739 - $ 1,312,368 ' ' $ (554,635) $ 3,556,472 Liabilities., �nl st)uetoiittrers, r $ 2,798,739', $1,312,368 $ (554,635)$ 3,556,472 .: Business ImpcoyementlDistrict Assets 1 ; 6 � M Cash and investm 195,462'k ;- •x $ 23;'j,389, 273,691 S,"-n. ��) ii 8 i p�l h1 I1�e• >� Lialitieg vi rte, :.. r. Jdi'�. " D"ue to., others $ ,'` 195,402 -' -• $ 231,389 $ {153,100) " •;'$ `273,691 Totals' =Alt Agency Funds: Assets .:" .. Cash and investments $ 8,733,750 1$4, ,018,54.0 $ (7,061783) ` $ , 5 ,08,507 Restricted assets - cash" and investments 1,714,885, 95,404 (90,929) 1 =,719,360 Total Assets $ 1'0,448,635; ` $',4,111,944 ;;' $(7,152,712)° $' 7,407,867 Liabilities Due to bondholders $ 7,454,494 ' $ 2,568,187 - $ (6,444,977) $ 3,577,704 Due to others 2,994,141 1,543,757 (707,735) 3,830,163 Total Liabilities $ 10,448,635 $ 4,111,944 $ (7,152,712) $ 7,407,867 101 102 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ • ■ • ■ ■ ■ ■ ■ ■ ■ ■ • ■ ■ -- I - 1 ... �'' _. .-,,, `_�r . �,�:; .F, �� , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ r- ■ ■ V! J x 1 ■ a This left blank intentionally: page ,' 1 F ) It. IIIIYrI'lllll 4 �t• �; '. Yllr 'h k3ltV V to kl l A " ! A 1 d �0.'p� 111 Ir l QYA nl.t tY c.t 1 is Y tt 4.Y ■ ■ ■ x ■ ■ ■ ■ ■ ■ ■ ■ 103 ■ ■ ■ CITY OF NEWPORT BEACH Comparative Schedule of General Fixed Assets June 30, 2001 ■ 2001 2000 ■ General Fixed Assets Land $ 27,661,681'. $ 27,696,681 ■ Structures 45,630,576 44,346,718 Equipment 13,715041��13,119,906 1 Eqwty in Joint Ventures 1;852;995 1,722,270 ■ „total General Fixed Assets " $ 38 8 &0,293 $86;885,575 ■ Investment in General F"" cl Assets $ 88,860,293 $ 86,885,575 TptallnvestmentinFixedAssets' $88,860,293 $86,885,575 ■ ■ ' `Sources are not `readily available.' " • ixx r. rrXXfp XI YN e I YYpN YA Y ■ "Mil rp_ .. r'Y,'.r ` °uer `,i ' fpnnNE .. •n I.„,i,r • . u ,: 9' X. ■ n ■ ■ ■ ■ ■ ■ ■ ■ ■ 104 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ CITY OF NEWPORT BEACH General Long-Term Debt Account Group Comparative Schedule of General Long-Term Debt June 30, 2001 Amount Available and Payment of Genera Amount Amount of aer General a in debi�siervice fund-, 6vided forthe' p'ayment:: 2001 2000 the $ 569,533 571,091 ■ ■ ■ ■ ■ 1, ■ ■ ■ ■ ■ ■ t, ■ 1 t ,1 kEk ' ■ 1 1 a r 111 1 �i � u 1 ■ a pagex left; blank intentionally.. ; r ,-This, r�rl r ■ IY 1 1 0: 1 fl 141 1'11 t nth F V 1 pp Ix� M 11 1 1 VI' 1'111^' 1 IMp 1 t P YY:A f YY�� h 41 1 1 1.., a '� n, tl' ■ � xy s' P 1 1 iW ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 106 ■ i 604" i y. -it I , ■ ■ CITY OF NEWPORT BEACH ■ Miscellaneous Statistics ■ June 30, 2001 ■ General Information Date of Incorportation .................................. .....: ............................ ...........................1906 ■ Form of Government..... r Council- Manager , .. ................ ■ Population ■ Permanent....... .... 70,032 Summer ... ......: .. 100,000 ■ Tourist ....., .f, ..... ...... ..... 201000 t&100 D00 per day Housing unats, ....... ,a 37,288 ■ Occup ,upoactor per dwelling utvt ..... � 1.88 ■ Area Square Miles `' ,Acres ■ Land`. ..... ' ... iii, :. 16.0 .,..... -. ... Bay :- 2 5 1,618 ■ Ocean .......;. 17.0 .. ........ e0,8 ■ T9ta1 ;: 355 ... ..... ,2,i ■ Populatid�u �enstty « � � � °. r acre.... s" . .. 6.ff4 Per s9 mi le , :: : t ■ e , . 'Recreational Area " Diu °"".. Acres ■ +r t n wF r ur rrrcrvi °v "ye P ei irc x r ` 'Ocean Water;:. 1[1,16, ■ yp f j' It 5R ppk I�p 18 pAA1 10. f 1 RAB Yitlih4 1 �p Z p H KMC Htbor Waters r tl tl 1�tl x A Y Y C IIVrt 1� Ab tl" Y9Y Par ■ Beaches 25,7 ........ ;. ...... .....:..... Total. :: . 13,255 ■ ..... ..... Water Frontage °miles Upper-134-yo' PPer Bel Frontage ...r e ...13 ■ Ocean ... ; ......... .. ...... ....... 8 ■ Harbor 21 Total Water FrontaR-1 42 .. ,: ....... ....... a......... ■ Newport Harbor ■ Boats ............... ......................... 9,000 ........ Residential ..................... e . ......4 .............. ..........................1,230 ■ Commercial Slips and Side Ties ....................: ` .. ................ ............................... .......................... 2,119 ■ Bay Moorings ........................... ............ . ........ . .................. ......... ..a ............................................ 1,221 ■ Public Safety Police Fire Numberof Stations... ................................ ........ —.— l ............ ......................... ........... 6................... 7 ■ Number of Personnel ..... . ........................................ 223 ................................... .............. ............. 137 ■ Unaudited — See Accompanying Auditors' Report. ■ 107 ■ Governmental Revenues by Source (1) (Last Ten Fiscal Years) GOVemment atbty o s vel pmen Services' Outlay 19911992 2,937,096 - .30,987412 "12,372,598 -< 3,411,623` 8,869;639 16,034,084 1992.1993 , °;, x, 4 ,359,857 31,209,589' <12,779,21 T` -' � 3,636,092= 8;520'758' 1244,226 S 1993 -1994 - �A,607,009 32,339,338 X15,078,898. 3,406,712= - 591,0:152 13;605;703 1994 -1995 5,505,610 33,389,922 14,66I,343 3,336,672: 5,857;934 `8,523,773 1995.1996 5,442;862 <34,571273 ?,14,779,614 2,952,247 5,916,194 "- 11291,759'.; :,.. 1996 -1997 5,6 21 , : 33}647 7,17 . 15,502,095 3,329,545!^ - 6,585,335 20',696,487 1997 -1998 6,790,020- _ =.,39,168,311 ' 16,579275 3,475,99$. 20,849,681 - 1998 -1999 7,471,850 40,514,411 16,846,674 4,688,087„ 7,733,720 50,684,045 1999 -2000 9,441,381 417}5,933,.. 16,898,630 427120) 7,932,497 13984,120- 2000 -2001 10,239,134 45,346341 r ;18,477,955 3,842,610.. ' (1) Includes General, Special Revenue, Capital Projects and Debt Sery ice Funds (2) Historical data for Debt Service expenditures is unavailable prior to fiscal year 1992 -93. Sourm: City Administrative Services Department Unaudited -See Accompanying Auditors' Report. 108 1,155,407 1252,111 1,795,347 1,777,945 73,881,144 76,054,587 72,825,573 76,022,994 88,324,639 95,079,568 129,190,898 96,059,109 105,600,392 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Fines, Licenses, j ,' Forfeitures Revenue from Fiscal Fees and governmental for and - Use of Money Year Taxes Perinns : evtnue "< Services Petial4es` ; a1rd:Property Other Total 1991 -1992 40,466,232 ' 1903,04a 10,819,561 4,609,8121 3,053,246 9,611,524. 2,722,037 73,185,456 1992 -1993 38,471,775, 2,006,805 ,:. 7,621,643 4,703,206 < 21582969 9,469,060, ,1,031,526 65;886978 1993.1994 39,809,139' 2,547,233 ': 8,993,289 .,. 5,077;369;, • ., 2,706,194 A,660,599 1;846189 69,555,012 1994 -1995 39,719,830 2,409 ,523 ... 10,704,000, -. ._.. = S 109,513 4,1 5,530 ., - 9,676,426 " 1,0$9,383 :. 71,865 .207 1995.1996 , 42,853,480 ,' 4,851,571 8,315,543 �. ,. _ 6;278,416 2,855,063 " ::,11,000,272 6,540,9 13 1.: 8695,258 2, 1996 -1997 44,523,935 "^ ' 4,061509 911',871417 ° 7,185,210 2,529,015` ]0;497,715 - 10;208,241' '� ", ,x 90,897,042 1997 -1998 '49,385,380:5' 7;203,302r� 19656742 " "8,314,830 2 ,5',53,575 11,422,977 ,1,593,409.' 100,250,215 19981999 52,903,507 5,680,496 '- e' 13189324: 8,779,962 3,29p U19 }10,666 ,537 "' 31;864,699 °',«128,374,344 1999 -2000 58,846,99M15 4,347,945 ' 10861,163 ` 9,068,527 3,4121171 ::42,405,600 1,508,626. - 190,387.026 2000 -200,5 62,908,305 - 4,153923` 11,463,635 , 9,906,851 - '3,555,946 •' 16,069,217 8,439,505 " ; 73,897,382 (1) Iiicla&s General Special ReveaOe 41e6t Service and Capital Projects Funds. I , . ,Yy G6vernmeutal'<Expendituresby oAction(1):'.... (Last Ten Fiscal Years) S ` 14441° < , Fiscal' General =< , Public ;; PU411C %' Community< Community CaPiml I)ebl. GOVemment atbty o s vel pmen Services' Outlay 19911992 2,937,096 - .30,987412 "12,372,598 -< 3,411,623` 8,869;639 16,034,084 1992.1993 , °;, x, 4 ,359,857 31,209,589' <12,779,21 T` -' � 3,636,092= 8;520'758' 1244,226 S 1993 -1994 - �A,607,009 32,339,338 X15,078,898. 3,406,712= - 591,0:152 13;605;703 1994 -1995 5,505,610 33,389,922 14,66I,343 3,336,672: 5,857;934 `8,523,773 1995.1996 5,442;862 <34,571273 ?,14,779,614 2,952,247 5,916,194 "- 11291,759'.; :,.. 1996 -1997 5,6 21 , : 33}647 7,17 . 15,502,095 3,329,545!^ - 6,585,335 20',696,487 1997 -1998 6,790,020- _ =.,39,168,311 ' 16,579275 3,475,99$. 20,849,681 - 1998 -1999 7,471,850 40,514,411 16,846,674 4,688,087„ 7,733,720 50,684,045 1999 -2000 9,441,381 417}5,933,.. 16,898,630 427120) 7,932,497 13984,120- 2000 -2001 10,239,134 45,346341 r ;18,477,955 3,842,610.. ' (1) Includes General, Special Revenue, Capital Projects and Debt Sery ice Funds (2) Historical data for Debt Service expenditures is unavailable prior to fiscal year 1992 -93. Sourm: City Administrative Services Department Unaudited -See Accompanying Auditors' Report. 108 1,155,407 1252,111 1,795,347 1,777,945 73,881,144 76,054,587 72,825,573 76,022,994 88,324,639 95,079,568 129,190,898 96,059,109 105,600,392 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 2000 -2001 10,239,134 45,346341 r ;18,477,955 3,842,610.. ' (1) Includes General, Special Revenue, Capital Projects and Debt Sery ice Funds (2) Historical data for Debt Service expenditures is unavailable prior to fiscal year 1992 -93. Sourm: City Administrative Services Department Unaudited -See Accompanying Auditors' Report. 108 1,155,407 1252,111 1,795,347 1,777,945 73,881,144 76,054,587 72,825,573 76,022,994 88,324,639 95,079,568 129,190,898 96,059,109 105,600,392 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ $140 $120 $100 pw p $80 w O W C $80 s` $4Q $20 $0 Governmental Revenues by Source. (Fiscal Year 2,000-2001) - Governmental Revenues and Expenditures (Last Ten Fiscal Years) ■ 7% ❑Taxed . ■ Licenses Oil nter6ovi ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 17% Unaudited -See Accompanying Auditors' Report. 109 for Money ONblic Works ■Community Development ■Culture and Recreation ■Capital Outlay O Debt Service Assessed and Estimated Actual Value of Taxable Property (Last Ten Fiscal Years) Total Assessed & Estimated Valuation Fiscal Secured Year Valuation 1991 -1992 $10,583,498,762 1992 -1993 11,182,809,052 1993 -1994 11,179,271;032 1994 -1995 11,178;202;789 1995 -1996 , 11;0;78,301,482 1996 1997 "` • 11,154 2$6.1K2 1997 1�7 Public Unsecured Utility Valuation $354,820 $1,010,317,328 15,0$7,6()2,671•. , vol, Sttutl eFn Calif4tnia 2,000 :dison saldprc .:1,009 1,295 915 $11,594,170,910 12,076,539,722 12,045,049,942 11,864,902,139 '11;804,599,524 21 11309 533,803 44 ! 12,330,205,468 76,000 14;3$7,40( 34,966 16,002,995 affecting the Public Utility e. y. e° 18,508,59!3" i.. r ind Collections rs36760,;' ,, 10285%. , Deliaquenx % of Total 'Ca .Total ^ Collections: Code uoas Collect ons Total Lev.: 19941995 17,105,142-(2),. 1992 -1993 °. 18,859,889 (1} „ e° 18,508,59!3" 98.14•.., rs36760,;' 19;396,649 10285%. 1993 -1994 • - _17,870,02$ - "(i) ''17:131,159 95287 - "- 52 &,0Z5 17,65Z,184 ,. 98.81% 19941995 17,105,142-(2),. 9647% 409,355,(2) 17,514,497 ° 98.78% 1995 -1996 `ifi,843;233 (i) "- 17;432,840 97.70% ,r368,913�, 17,801,753 99.77% 1996 -1997 2063 20;096,688 • 97.73% 897,670 20,994,358 102.09% 1997 - 1998 21,144,504 ;,,' '20472,716 96.82% 1,040,120 - l 21,512,836 10174% 1998 -1999 22;738,432 22;084,910 97.139n 1,11,�jTO1� 23,198,860 102.02% 1999 -2000 24,667,494 24,207,104' "� 98.13% • ' 1',398¢73 25,605,677 103.80% 2000 -2001 27,405,295 26,856,091 98.000/0 1,511,286 28,367,377 103.51% (1) Effective FY 92/93 -FY 95/96, Orange County reduced Secured Property Tax Levy as a result of the State Budget Process. (2) Funds were withheld due to the Orange County Bankruptcy. Source: County of Orange Auditor- Controller's Office Unaudited -See Accompanying Auditors' Report. 110 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ $16,600 $15.000 n $13,500 0 $12,000 0 N o $10,500 � $9,000 0 $7,500 °m $6,000 m R $4,500 o $3,000 $1,500 $0 Total Assessed Valuation /Property Tax Collections (Last Ten Fiscal Years) $30,000 $25,000 w m $20,000 A w 0 H$15,000 w c 0 m $10,000 O U w 0 $5,000 $0 1991 -92 1992 -93 1993 -94 1994 -95 1995 -96 1996 -97 1997 -98 1998 -99 1999 -2000 2000 -01 Total Property Tax Collections /Delinquencies (Last Ten Fiscal Years) 1991 -92 1992 -93 1993 -94 1994 -95 1995 -96 1996 -97 1997 -98 1998 -99 1999 -2000 2000 -01 Unaudited -See Accompanying Auditors' Report. 117 $30,000 $25,000 w O $20,000 ° i a 'o $15,000 H c 0 u m $10,000 c U $5,000 t 0 n` $0 $2,000 $1,750 2 N 0 $1,500 16 `o w °m $1,250 .o c 2 $1,000 0 0 $750 m 0 U C $500 � c v $250 � $0 M Construction Activity (Last Ten Fiscal Years) M M Fiscal Building Permits Percentage Estimated Percentage ■ Year Issued Change Valuation Change 1991 -1992 7,268 -4.37% $ 77,413,996 - 29.94°A 1992 -1993 170,274 -6.77% 1993 1994 =� 365% . <,: 70339.544 " 2.54% ° ` ° 9.82% - 79,91 ,510 1994 -1995 7,677 ° �, 13.30% 1 1946 8302'. ° ° 8.21% :5145 760839 _ 82.91 % i 203,944,317 193i 1997 9,085 9A 3992% 1997199 10 332; 1.73% 224 507,349, 10 08% 19i$ -1999 12076° 16,88%a 302598;185° 34;78 %: • 1999 2000 10 4 }'2 13.78% ` 22fh623,29 - 27.09% ". A 2000 2001 9:36f^ 10,09% ?26778743 2.79% K. Source' bt ),$uildmgandPlanning.Department 9 77 iXB a I9ppR (` P p�6 k�8 4*tlenFis�&IYears) `! 3G� llP .(r p ' YYYt M90.0.P r 9hlr ( 1 ktl 1 h n uYMi�'i mPer „ 9e i P i i & �'i dd "R, N Calendar Year Bankaeposifs ;d;lh4 ■ 1991 .. °' '$4 331692.':. 199 435%067 1993 4,582s022` �l9 y4' 4,193,643 1995 4,219,849' 1996 3,560,374 1997 3,251,245; P98- 020,677 ° 1999 3,373,053 2000 3,214,598 • 2001 data for bank deposits will not be available until 12 -31-01 ■ Source: The Findley Reports on California Financial Insitutions Unaudited -See Accompanying Auditors' Report. 112 . ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Estimated Value of Construction /Number of Building Permits (Last Ten Fiscal Years) $350 . -. 16,000 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 Unaudited -See Accompanying Auditors' Report 113 $300 .. '; —d =.'p mberofBuiWingPeni�ts.- 14,000 0 0 ° $250 �; '- 12,000 a 10.000 € f $200 a 1 .8,000 `o u $150 a 6,000 E o z $100 e ; 4,000 v $50 2,000 $0 , �.`x'' �• 0 1991 -92 1992 -93 1993 -94 1994 -95 1995 -96 1996 -97 1997 -98 1998 -99 1999 -2000 200001 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 Unaudited -See Accompanying Auditors' Report 113 ■ Property Tax Rates -- Direct and Overlapping Governments (Per $100 of Assessed Value) (Last Ten Fiscal Years) ■ Fiscal School County County Flood County, City Metro Water Year Districts Improvement . ` :. Control' , & School Levy District Total 1991 -1992 0.00231 ;> 0:00012 0.00063 1.00000' - , 0.00744 1.01050 1992 -1993 0.00239. " 100013 0.00065 1.00000 0.01171 1.01488 1993 -1994 0.00000 , 0.00011 0.00067 1.00000 0.00326,. 1.00404 1994 -1995 '' °, ''0.00000 0.00013 ;, 0.00037 1.00000 0.00881 1.00931 . 1995 - 1996 ° ,° 0.00000 0.00012 0.00000 1.00000 0.00890 1.00902 ■ 19964M 0.00000 0.000001 _ 0.00000 1.00000 q.00857 1k00857 1997154 0.00000 ! 0.00000 -' 0.00000 1.00000 0mO0890 1.00$90 199&1989 �;0 00000" 0.06000 0:00000 1.00000 0.00890 i40R90 1999 2000 000000 0.00000 0:00000 1.00000': 0.00890 E:A 1 00890 . 200¢2001 „ 0 00000 , 0.00000 0.00000 1.00Q00 0.00880 1 00880 ■ Source: County of Orange Axiditoncommller's Office Computation of Legal Debi Mai gin „Y IY It Yppy'. Ft 1 ,. f YPI,m M ;June 30;2001 ;; „' , "pY ry eYn„ ti' ilti .. 1 oral assessed value of:all .real &personal property ! $16,002,999,637'1(1)' . Debt limit percentage 15% Total'elebt limit "` $2,400,449,946 Amounrof debt applicablet6•debtiimit $6,610,000 ■ Legal debt margtu'! $2,393,839,946 ■ (1) The fiscal year 2001 debt limit is based on assessed value being equivalent to 100% of market value. M Source: City Administrative Services Department M Unaudited- See Accompanying Auditors' Report. M 114 ■ ■ ■ ■ ■ ■ m m m m m m m m m m m m ■ m m m m m m m m m m m m Bank CITY OF NEWPORT BEACH Source: HdL, Coren and Cone Co. 115 L 61,767,000 ' .,r Real Estate , s . Apattment'Buac ^ Real Estate 15.64% Source: HdL, Coren and Cone Co. 115 L 61,767,000 60,332,170 0.46% 03,723,684 3.85% 15.64% Schedule of Direct and Overlapping Bonded Debt June 30, 2001 2000.01 Assessed Valuation: (after deducting $213,296,618 redevelopment incremental valuation) DIRECT AND OVERLAPPING BONIiED IiEBT.` Orange County Metropolitan 'N Newport Mesa 1 Santa Ana Unift Irvine Rands 46 (1) (2) (3) Public County Orange Orange G MVIDCO tax $16,105,781,269 Debt 6/30/01 ?I h.Obligations .,,. '. 7423.. 89,796,352 tnet, I% ivo , 8,661,222 School Dtstrid- Community,* lities District No. 90-1 ' . 11.283 % ' ` 2,214,853 of Distrta - - - 11.523 % - ., 6,489,754 trict`Imp'rovementDistricts- 'bAli,16.649 % 4,174,272 'acilides Financing' or Comm. Facilities Dist. 072Q % -" 44;789,238 Special Improvement Distri4' No: 9$ -1 100% 45,670;000 (1) 1915Actg" _ -` -100% 4,623,330 (2) I Fond Obligations 7.823% 81,919640::;. Qbltganons - 7.823 % 10,5%293° District Authority "J .. 7.823 % on District 7,Ceaif[cates ofParticipatioW ; 7.138- 86995% d0,269467' ',1 ;i ?,s ct Certificatesof Paiticipation 1=4 Orange County Water Facilities Corporation , .�. 0067% 39,654, „ )j egle District Certificates of Participation w „., t: 27.361 % n8,704 ommunity,College District Certificates of Participation r,, 1.132 % :515,343,' g g n of District Certihca [es,of "P.,arttc�panon;.:,, .. " "•t 11.523 % ' 4,748 696 s�.. eiict Certificates of Partieipatron :3.130 % p 1,702 720,:;; to of Partin anon.,., � p, Ift ies, , p -!' 100 % tl -- 6,610 000 � 1 9.. ., , . ..., ... . r L: LLAFr>a kinvn»eu Ulst31 p) uthorit "y (809hself- supportmg) rtificatei of Participation (100%-selfstpporting) 11 at( '(W#3 self supporting) _ 195,000 refunding bonds dated,8/1 /01 ,5% 1915 Act bonds dated 8/1/01. 10 revenue anticipation notes, revenue, inoi tgage revenue and bbm s' and non- bonded °capital Uiie obligations. Ratios to Assessed Valuation Combined Direct Debt ($6,610,000) 0.04%n Total Gross Combined Debt 1.37% Total Net Combined Debt 1.35% Source: California Municipal Statistics, Inc. Unaudited -See Accompanying Auditors' Report. 116 $0 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ i Revenue Bond Coverage (Last Ten Fiscal Years) (3) ■ Net Revenue Fiscal Gross Operating Available for Debt Service Requirements Year Revenues (1) Expenses (2) Debt Service Principal Interest total Coverage 1994 -1995 $ 14,817,854 $ 811,037 $ 811,037 717 ' 1995 -1996 16,145,307, ,20,028 ?,925,279,,I--, 820,000 • - 89 &$7$„ 1,258,420 2.32 1996 -1997 18 X21,967 -'� 14,65i 9$7,569,980 _ 845,000, '.._$S4 130 :,.1,699,130 2.10 1997 -1998 1697 212 12 350,445 9,146, ,767 - 875,000 784,390, , 1,49 390 2.50 4 1998 -1999 '17,658,076 II14-5,936 6,312,140 335,000 ; °•593,469 9284.09 7.01 1999 -20}0 ; 17;770,491 `�J 11,713 223 6,057,268 1,025,000-1 551,668 '` 1,576,668 , „3.84 2000-2901 182]5185', 11784 1,20— 6,431,065 1,105,00,61 ' 510,225 a 1,615;225 198 (I) `Gross revenues includes txperatmg revenues interest and'intergovemmental revenues4n the Water Fund. �� (2} Total Water, Fund operating expense excludes depreciation. .. , I,, • +, . [p YV• flx,.a. A (3p ievenue bonds were`tsstied prior, to fiscal Year 1994 95 ` } t i "'V j, xp �AAVA tfx Jpn itdM �U-0p ■ A AUU Y YY Yp II 1 11 Y w V Y 1 f 11'xYY J U x of 1,^i^ UU! Yp Y ANif �'� ■ pS Y1, AApp A 1 YYpp J "p ee f111YYAAY Y "p N�, 11 IY 1 iiv 11 Y 1 1 ��'ii Vnl : IAp J p.x JYV K U YY i i YN'1,�� YCAY� YYpp�'1�� {{ v if 1 f i n... .. •.n pJi Yp p f 1 r, � IYYfY�w� ■ ■ ■ ■ ■ ww V ■ n ■ ■ ■ ■ 117 ■ i H Demographic Statistics (Last Ten Fiscal Years) City ■ Fiscal City Orange County Population Per Capita Median Unemployment Year Population Population % of County Income Age Rate (1) 1991 -1992 66,,643 2 41%55li 2 76 °(O $14,390 40.8 3.3% ■ 1992 -1993 651172 2,599,717, 151% 27J55, 38.4 4.3% 1993 -1994 6$,784 2,523,774' 2.73 % 49,593 40.7. 4.3% 1994 -1995 69,301 2,564,345 2.70% 50,515 40.3 3.6% ■ 19951996 70,098 2,615046, 2.68% PA52 40.6 3.2,% 199fr1997 690692Cw72457 -,' 2.58%,, 53,369 4d.7 26°1x. 1997 -1998 70,430 2,710,718 2.58% 56;000 43.5 2. 00W 19?8- 1999 72,623 2,7,'75 ,600 2.626/6 59,051 419 1.80A s s 1 1 .. s .1.: R Y 5.. . il 1 s... fi An E y "i Y4 ■ ,),9,99 -2000 73 965 � 2,828,400 2.62% 62,,398 44.4 1 6°/ °, ,,. N 3 2(y 0Y 0 M 2846,29 2'. 46% p (2) 41.6 16 °1° tl4 ";a 1 MtlWyyW W'. ytlmp -0 <ppi �IYS < 1 YY "i 1 1.1 n`CI 1 1 " 1 � 5 YM��N�n.. I ppYp; ( 1)+ tlStat enofCalifomiaiployee {lil" Y5 , Y E Fti 'DeveloprnentDeparunent IIp F Y NI ti' 2 Not available unbl'2002. ¢R.. " Souse;'_ 1991 thru 2000: °'FOCUS: Orange County, a mi azure published bylnfo Outfitters. 2000-2001: U:S Census BureBU; Census 2000 Unaudiiw See ,Accompanying.Audiiozs'.Report; 118 ■ H