2000 CAFR1
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CITY OF ROSEMEAD
California
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FISCAL YEAR ENDED JUNE 305 2000
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1 CITY OF ROSEMEAD, CALIFORNIA
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1 COMPREHENSIVE ANNUAL
i FINANCIAL REPORT
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1 FISCAL YEAR ENDED JUNE 301 2000
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1 Prepared by the Fnance Department
Karen L. Dgawa, Finance Director
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' CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
' Fiscal Year Ended June 30, 2000
' TABLE OF CONTENTS
' INTRODUCTORY SECTION Page
Letter of Transmittal i - xii
' List of Principal Officials xiii
Organizational Chart xiv
Certificate of Award for Outstanding Financial Reporting xv
' Certificate of Achievement for Excellence in Financial Reporting xvi
' FINANCIAL SECTION
' Independent Auditors' Report 1
General Purpose Financial Statements: .
Combined Balance Sheet - All Fund Typed and Account Groups 3-4
' Combined Statement of Revenue, Expenditures and Changes in
Fund Balances - All Governmental Fund Types 5-6
' Combined Statement of Revenue, Expenditures and Changes in
Fund Balances -Budget and Actual - General, Special
Revenue, Debt Service and Capital Project Fund Types 7-10
Statement of Changes in Plan Net Assets - Pension Trust Fund 11
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Notes to Financial Statements 12 - 29
Combining and Individual Funds and Account Groups Financial
Statements (Supplementary Information):
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GENERAL FUND:
Balance Sheet 33
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Statement of Revenue, Expenditures and Changes in Fund
Balance 34
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 2000
TABLE OF CONTENTS (cont.)
FINANCIAL SECTION (cont.)
Combining and Individual Funds and Account Groups
(Supplementary Information): (cont.)
GENERAL FUND: (cont.)
Revenue Detail - Budget and Actual
Expenditure Detail - Budget and Actual
SPECIAL REVENUE FUNDS:
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Combining Balance Sheet - All Special Revenue Funds
41 - 44
Combining Statement of Revenue, Expenditures and Changes
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in Fund Balances - All Special Revenue Funds
45 - 48
Statement of Revenue, Expenditures and Changes in
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Fund Balance - Traffic Safety Fund
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hanges in
Statement of Revenue, Expenditures and
Fund Balance - State Gas Tax Fund
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Statement of Revenue, Expenditures and Changes in
Fund Balance - Air Quality Management District
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Statement of Revenue, Expenditures and Changes in
Fund Balance - Local Transportation Fund
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Statement of Revenue, Expenditures and Changes in
Fund Balance - Public Transportation Fund
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Statement of Revenue, Expenditures and Changes in
Fund Balance - Community Development Block Grant Fund
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 2000
TABLE OF CONTENTS (cont.)
FINANCIAL SECTION (cont.)
Combining and Individual Funds and Account Groups
(Supplementary Information): (cont.)
SPECIAL REVENUE FUNDS: (cont.)
Page
Statement of Revenue, Expenditures and Changes in
Fund Balance - 1976 Community Parklands Grant Fund 55
Statement of Revenue, Expenditures and Changes in
Fund Balance - Street Lighting Fund 56
Statement of Revenue, Expenditures and Changes in
Fund Balance - Narcotics Seizure Fund 57
Statement of Revenue, Expenditures and Changes in
Fund Balance - Low-Moderate Income Housing Fund 58
Statement of Revenue, Expenditures and Changes in
Fund Balance - Rosemead Housing Development Corporation 59
Statement of Revenue, Expenditures and Changes in
Fund Balance - California Wildlife Fund 60
Statement of Revenue, Expenditures and Changes in
Fund Balance - Federal Highwy Grants Fund 61
CAPITAL PROJECTS FUND:
Balance Sheet - Capital Projects Fund 63
Statement of Revenue, Expenditures and Changes in
Fund Balance 64
Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual 65
CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 2000
TABLE OF CONTENTS (cont.)
FINANCIAL SECTION (cont.)
Combining and Individual Funds and Account Groups
(Supplementary Information): (cont.)
DEBT SERVICE FUND:
Balance Sheet - Debt Service Fund
Statement of Revenue, Expenditures and Changes in
Fund Balance
Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual
FIDUCIARY FUND TYPES:
Combining Balance Sheet
Combining Statement of Changes in Assets and
Liabilities - All Agency Funds
ACCOUNT GROUPS:
Statement of General Fixed Assets
Statement of Changes of General Fixed Assets
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 2000
TABLE OF CONTENTS (cont.)
STATISTICAL SECTION
General Governmental Expenditures by Function - All Governmental
Fund Types 79 - 80
General Revenues by Source - All Governmental Fund Types 81 - 82
Other Tax Revenues by Source - All Governmental Fund Types 83 - 84
Assessed Valuations of Taxable Property 85 - 86
Special Assessment Levies and Collections - Lighting and
Maintenance District 87
Computation of Legal Debt Margin 88
Ratio of Annual Debt Service Expenditure for Total Bonded
Debt to Total General Expenditures 89
Ratio of Annual Debt Service Expenditure for Total Bonded
Debt to Assessed Valuation 91
Ratio of Annual Debt Service Expenditure for Total Bonded
Debt Per Capita 92
Property Tax Rates - All Overlapping Governments 93
Schedule of Direct and Overlapping Bonded Debt 94
Demographic Statistics 95
Principal Taxpayers 97
Schedule of Insurance in Force 98
Construction Activity 99
CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 2000
TABLE OF CONTENTS (cont.)
STATISTICAL SECTION (cont.)
Miscellaneous Statistics
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Vicinity Map 101
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MAYOR:
MARGARET CLARK
MAYOR PRO TEM:
JAY T IMPERIAL
COUNCILMEMSERS:
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ROBERT W. BRUESCH
GARY A. TAYLOR
JOE VASQUEZ
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December 1, 2000
The Honorable Mayor
and Members of the
Rosemead City Council
Councilmembers:
Posmcad
8838 E. VALLEY BOULEVARD • P.O. BOX 399
ROSEMEAD, CALIFORNIA 91770
TELEPHONE (626) 569-2100
FAX (626) 307-9218
Submitted for your information and consideration is the Annual Financial Report for
the fiscal year ended June 30, 2000. This is a combined report of the City of
Rosemead, Rosemead Redevelopment Agency and the Rosemead Housing
Development Corporation. The report is prepared by the City's Finance Department
and made available to residents, the City Council, and the investment community.
The responsibility for both the accuracy and completeness of the financial report rests
with the City. To the best of our knowledge the information presented is accurate in
all material aspects and includes all disclosures necessary to enable the reader to gain
an understanding of the City's financial activities.
GENERAL INFORMATION
The City of Rosemead was incorporated on August 4, 1959, and operates as a
general law city. It has a Council-Manager form of government, with five council
members elected at large for four-year overlapping terms. The Council selects a
Mayor and a Mayor Pro-Tem each year from its membership.
The Council is responsible for enacting local legislation, establishing general policy for
the City and adopting annual budgets. The Council's duties include the appointments
of a City Manager, City Attorney, City Clerk, City Treasurer, and the selection of
citizens to serve on the City's Planning Commission and Traffic Commission. The
City Council also acts as the Redevelopment Agency and Rosemead Housing
Development Corporation Board, and oversees the responsibility for the operation and
accountability of the Redevelopment Agency, Building Rehabilitation Appeals, and the
Rosemead Housing Development Corporation.
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The City of Rosemead has a population of 57,328 livin;% in an area encompassing 5.5
square miles. The City is located in the central Northvvestern section of Los Angeles
County, approximately nine miles east of downtown Los Angeles. The City shares
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common boundaries with the municipalities of San Gabriel, Temple City, El Monte,
South El Monte, Montebello, and Monterey Park. Two major freeways, the San
Bernardino (1-10) and the Pomona (60) intersect the City in an east\west direction
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providing convenient access to all areas of Southern California. In addition, major rail
and public bus lines provide convenient regional transportation options.
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Sales tax is the City's major revenue source and is based on light manufacturing,
commercial, and local retail business. This accounts for approximately 22% of the
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land use within the City. The remaining 78% of land area used for residential
purposes (64%), and by public facilities activities (14%).
HIGHLIGHTS OF FISCAL YEAR 1999-2000
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Administration: The year has seen continued improvement on the economic front at
the state and regional levels, with the regional economy finally ending its reversionary
phase, and showing healthy growth in most sectors. This economic expansion has
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been mirrored by continued regional population growth, which, while more modest than
that of the late 1980s, nonetheless shows strong rates of natural increase and
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immigration. Migration, too, from other parts of the US has returned to the positive side.
On a more cautious note, however, there is concern that despite the rising income, both
the cost of living in the region and the patterns of income distribution has meant that a
portion of the population remains unable to afford a basic standard of living.
While Governor Davis's and the Legislature's budget present some encouragement to '
local government agencies, the City of Rosemead and other local government entities
are continuing to work to see that the administration honor their commitment that local
government is owed a return from the state. Education will continue to receive the t
benefit of any surplus in the state budget.
A generally positive economic outlook is based upon healthy revenue trends, as
evidenced. by a second year of substantial state budget surpluses. It is anticipated that
this trend will be with state and region for at least the next two years and maybe even '
beyond. Personal income also appears to be undergoing a healthy upswing. Increased
trends in income tax withholding seem to support this observation.
Engineering: The City completed several capital improvement projects during the '
fiscal year. To mitigate flooding problems on Kelburn Avenue in the vicinity of Garvey
Park and on Delta and Earle Avenues north of,Garvey Avenue, storm drains were ;
constructed. Undergrounding of the utilities on San Gabriel Boulevard between
Garvey Avenue and Hellman Avenue was completed in early Spring 2000 and was
funded by Edison Rule 20A funds. With the planting of parkway trees, the Valley '
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The Comprehensive Annual Report is divided into the following three sections:
1 1. Introductory Section - which includes this transmittal letter, the City's
Organization Chart, and a list of the principal officials.
1 2. Financial Section - which includes the auditor's opinion, general purpose
financial statements, and the combining and individual fund and account group
financial statements.
1 3. Statistical Section - which includes relevant financial and non-financial data
presenting historical trends and other information about the City.
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NOTES TO THE FINANCIAL STATEMENTS
1 The Notes to the Financial Statements, which are part of the General Purpose
1 Financial Statements within the Financial Section, are an integral part of the financial
report and are essential to the fair presentation and adequate disclosure of the
financial position of the City, Redevelopment Agency, and the Rosemead Housing
1 Development Corporation. The notes should be read along with the financial
statements to gain a more thoroughly understanding of the information contained
within this report. Your attention is specifically directed to the presentation of the
1 City's significant accounting policies
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The fiscal operations of the City are primarily accounted for in the Governmental
Funds, which include the General, Special Revenue, Debt Service and Capital Project
Funds.
The 1999-2000 Fiscal Year revenues for the .Governmental Fund types totaled
$19,222,330. Presented on the previous page are the revenues by major source,
which includes-the percentage each source represents of the total revenues and the
increase (decrease) from the prior year.
The, most notable decrease and change in revenues is shown in Intergovernmental
revenues, which is the result of Community Development Block Grant funds and other
State grant funds.
The 1999-2000 Fiscal Year expenditures for the-Governmental Fund types totaled
$17,811,269. Listed above is a recapitulation of these expenditures by major
function. The chart reflects expenditures by function as a percentage to the total
expenditures and the incremental change from the prior fiscal year.
The most significant increase in expenditures for 1999-2000 over 1998-99 is
reflected in General Government. The most notable expenditure decrease is in Public
Works function. Majority of the decrease is due to the Valley Boulevard project. .
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GENERAL FUND
The City of Rosemead remains in a strong financial position as of June 30, 2000 with
a surplus of approximately fourteen million four hundred thousand dollars ($14.4).
There were no residual equity transfers from any funds during the fiscal year.
GENERAL FIXED ASSETS
As of June 30, 2000, the general fixed assets of the City totaled fourteen million six
hundred twenty thousand six hundred fourteen dollars ($14,620,614). This amount
represents the original cost of the assets, net of additions and deductions from July
1, 1999 to June 30, 2000, and is considerably less than their present value. The
system of accounting presently recommended by the Governmental Accounting
Standards Board does not allow for the recording of depreciation of general fixed
assets as an expense of governmental funds.
ACCOUNTING SYSTEM
The City's accounting records are maintained on the modified accrual basis of
accounting for the governmental fund types and agency funds. Revenue is
recognized in the accounting period in which it becomes both available and
measurable. Available means collectible within the current period or soon enough
thereafter to pay current liabilities. The accrual basis of accounting is used for
Pension Trust Fund, which recognizes revenues when earned and expenses when
incurred.
A system of internal accounting controls have been developed and regularly reviewed
by the independent certified public accountant who audits the accounting records of
the City. This system has been designed to provide reasonable, but not absolute
assurance that:
1. Assets have been protected from losses arising from unauthorized use or
disposition.
2. Financial records can be relied upon for preparing adequate financial
statements and maintaining accountability for assets.
All internal control evaluations occur according to the above criteria. We believe that
the City's controls adequately safeguard assets and provide reasonable assurance of
proper recording of financial transactions.
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BUDGETARY CONTROL ,
In addition to internal accounting controls, the City also maintains budgetary controls. '
The objective of these budgetary controls are to insure compliance with the City's
budget policy embodied in the annual appropriated budget approved by the city ,
Council. Activities of the general fund, special revenue funds, debt service fund, and
capital projects fund are included in the annual approved budget.
Budgetary control is maintained at a functional level by division within departments '
through use of object level account appropriations. Actual expenditures are
compared to these appropriations. '
The City Manager is authorized to transfer budgeted amounts between funds within
the same department. Any new appropriations must be authorized by City Council.
All unexpended budgeted funds lapse at the end of the budget year. The exception is ,
the capital projects fund because the budgeted appropriations relate to all future
appropriations as well as current year appropriations.
CASH MANAGEMENT
The City and the Agency maintain separate cash and investment pools. Each fund's
or fund's type's share of the pool balance is reported in the financial statements as ,
"cash and cash investments." Earnings from the pooled investments are allocated
monthly to each participating fund based on a formula that takes into consideration
each fund's average investment in the pool.
DEBT ADMINISTRATION I
The City of. Rosemead, as a general law city, is restricted from incurring general
obligation bonded indebtedness which would exceed 3.75% of the total assessed t
valuation of all real and personal property within the city. The City of Rosemead
presently has no bonded indebtedness.
The Rosemead Redevelopment Agency issued $34,275,000 Tax Allocation Bonds
(Series A) and $2,435,000 Taxable Tax Allocation Refunding Bonds (Series B) in '
November 1993 to finance public improvements within the Redevelopment Agency's
project area and a portion of the bond proceeds were used to defease the 1991 Tax
Allocation Bonds and the 1987 Tax Allocation Notes. The 1993 Bonds (Series A and '
B) interest payments are due semi-annually on October 1 and April 1, and principal
payments due annually on October 1.
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In October 1991, the Agency funded its Low-Moderate Income Housing Set Aside
fund with $6,813,850 from the proceeds of the 1987 Tax Allocation Notes. The
Agency prefunded the Low-Moderate Housing Income Set-Aside Fund to satisfy the
set-aside requirement for fiscal years 1996-97 through 2021-22, approximately
$451,187 per year.
GANN LIMIT
In 1979, Proposition 4, the "Gann" initiative,
was passed. This measure was intended to
control government spending by establishing a
spending limit, which is calculated from the
base year 1978-79 and adjusted annually by
the Consumer Price Index and population
changes. This limitation applies only to
appropriations subject to the limitation as
defined under Article XIIIB of the California
Constitution. We are pleased to inform you
that the City is in the enviable position of
being well within 35% of the calculated
appropriation limit at June 30, 2000. The
City's 2000-01 estimated revenues and
budgeted expenditures indicate that by June
30, 2001 the City will be approximately 34%
of the limit.
OTHER INFORMATION
' The City of Rosemead was pleased to receive a Certificate of Award for Outstanding
Financial Reporting from the California Society of Municipal Finance Offices (CSMFO)
for the City's Comprehensive Annual Financial Report, Fiscal Year Ended June 30,
' 1999. This Certificate is awarded to governmental units who publish an easily
readable, efficiently organized, comprehensive annual financial report which conforms
to program standards and satisfies both generally accepted accounting principles and
' applicable legal requirements. The City of Rosemead was awarded this Certificate for
the last eleven (11) consecutive years.
' This Certificate is valid for a period of one_year only. We believe that the City's
current comprehensive annual financial report continues to meet the Certificate of
Achievement program requirements and are again submitting it to the CSMFO to
determine its eligibility for another certificate.
' The Government Finance Officers Association of the United States and Canada
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(GFOA) awarded a Certificate of Achievement for Excellence.in Financial Reporting to ,
the City of Rosemead for its Comprehensive Annual Financial. Report for the fiscal t
year ended June 30, 1999. The Certificate of Achievement is a prestigious national
award recognizing conformance with the highest standards for preparation of state
and local government financial reporting. ,
In order to be awarded a Certificate of Achievement, a government unit must publish
an easily readable.and efficiently organized Comprehensive Annual Financial Report, '
whose contents conform to program standards. Such CAFR- must satisfy both
generally accepted accounting principles and applicable legal. requirements.
A Certificate of Achievement is valid for a period of one year only. The City of
Rosemead has received a Certificate of Achievement last year. We believe our
current report continues to conform to the Certificate of Achievement program
requirements, and we are submitting it to GFOA.
ACKNOWLEDGMENTS,
The preparation of this report could not have been accomplished without the efficient 1
and dedicated efforts of the entire Rosemead Finance Department. The department's
effort to upgrade the quality of financial reporting for the City of Rosemead has led to
improved quality of financial information available to the City Council and citizens.
We would like to thank the members of the City Council for their continued support,
leadership and concern for the financial stability of the community.
Respectfully submitted,
Frank G. Tripepi
City Manager '
Karen L. Ogawa f
Finance Director
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CITY OF ROSEMEAD, CALIFORNIA \
CITY OFFICIALS
June 30, 2000
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ELECTED OFFICIALS:
City Council:
Margaret F. Clark
Mayor
Jay T. Imperial
Mayor Pro Tern
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Robert W. Bruesch
Councilman
Gary A. Taylor
Councilman
Joe Vasquez
Councilman
APPOINTED OFFICIALS:
Planning Commissioners:
Merced "Bill" Ortiz
Chairman
Robert Breen
Vice Chairman
William Alarcon
Commissioner
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Duc Loi
Commissioner
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Rudolfo Ruiz
Commissioner
Traffic Commissioners:
Edward Quintanilla
Chairman
Victor Ruiz
Vice Chairman
Carmine Baffo
Commissioner
Diana Herrera
Commissioner
Holly Knapp
Commissioner
Frank G. Tripepi
City Manager
' Frank G. Tripepi City Treasurer
' Robert L. Kress City Attorney
Nancy Valderrama City Clerk
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Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Rosemead,
California
For its Comprehensive Annual
Financial Report.
for the Fiscal Year Ended
June 30, 1999
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
KIM STA
OWN President
OOfdOYANIN g
y~ s,r Must
fMILASd
/EV/V/V//xecutive Diree/(toAr~//I/4J-
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1 INDEPENDENT AUDITOR'S REPORT
1 To the Honorable Mayor and
Members of the City Council
City of Rosemead
Rosemead, California
1 We have audited the accompanying general purpose financial statements of the City of Rosemead,
California (the City), as of and for the year ended June 30, 2000. These general purpose financial
1 statements are the responsibility of the City's management. Our responsibility is to express an opinion on
these general purpose financial statements based on our audit.
1 We conducted our audit in accordance with.generally accepted auditing standards 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
1 reasonable assurance about whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement presentation. We believe that
1 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
1 respects, the financial position of the City, as of June 30, 2000, and the results of its operations and the
cash flows of its pension trust fund for the year then ended in conformity with generally accepted
accounting principles.
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In accordance with Government Auditing Standards, we have also issued a report dated September 8,
2000 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
conjunction with this report in considering the results of our audit.
Our audit was made for the purpose of forming an opinion on the general purpose financial statements
taken as a whole. The combining and individual fund statements and schedules listed in the table of
contents as supplementary information are presented for purposes of additional analysis on pages 27 to 57
and are not a required part of the general purpose financial statements of the City. 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 presented in all material respects in relation to the general purpose financial
statements taken as a whole.
1 Pasadena, California
September 8, 2000
Certified Public Accountants
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CITY OF ROSEMEAD, CALIFORNIA
GENERAL PURPOSE FINANCIAL STATEMENTS
YEAR ENDED JUNE 30, 2000
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CITY OF ROSEMEAD, CALIFORNIA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 2000
Govemmental Fund
Special
Debt
Capital
Assets and Other Debits
General
Revenue
Service
Projects
Assets
Cash and investments
$ 12,729,784
$ 9,177,602
$ -
$ 14,219,238
Receivables
1,562,802
1,691,111
11,191
447,465
Prepaid expenses
172,887
-
-
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Restricted cash and investments
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2,324,304
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Due from other funds
1,574,442
-
-
-
Property and equipment
-
-
-
-
Other Debits
Amount available in debt service fund
-
-
-
-
Amount to be provided for retirement of general
long-term debt
-
-
-
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Total assets and other debits $ 16,039,915 $ 10,868,713 $ 2,335,495 $ 14,666 7, 03
Liabilities, Municipal Equity and Other Credits
Liabilities
Accounts payable and accrued liabilities $ 1,134,415 $ 283,926 $ - $ 158,307
Due to other funds - 1,370,069 - 204,373
Deferred revenue 415,193 96,776 - -
Refundable deposits - - - -
Tax allocation notes and bonds - - - -
Accrued vacation pay and compensatory time 46,010 - - -
Total liabilities 1,595,618 1,750,771 - 362,680
Municipal Equity and Other Credits
Investment in general fixed assets
Fund balance:
Reserved:
Prepaid expenses
Long-term receivable
Debt service
Low-moderate income housing
Employees retirement
Unreserved:
Designated for:
Capital projects
Building and equipment replacement
Litigation settlements
Selfinsurance
Contingencies
Undesignated
Total municipal equity and other credits
Total liabilities, municipal equity and
other credits
172,887 - - -
531,191 - - -
- - 2,335,495 -
6,358,788 - _
14,304,023
1,800,000 - -
1,000,000 - - -
300,000
4,000,000 - - -
6,640,219 2,759,154 - -
14,444,297 9,117,942 2,335,495 14,304,023
$ 16,039,915 $ 10.868 713 S 2,335 495 $ 14,666 703
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See Notes to Financial Statements.
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Fiduciary
Fund Type
Account
Groups
Totals (Memorandum Only)
General
General
Trust and
Fixed
Long-term
Agency
Assets
Debt
2000
1999
$ 285,902
$ -
$ -
$ 36,412,526
$ 35,701,177
_
3,712,569
4,029,595
172,887
-
-
-
-
2,324,304
2;322,186
1,574,442
2,136,930
-
14,620,614
-
14,620,614
14,242,846
-
-
2,335,495
2,335,495
2,333,376
-
-
33,021,115
33,021,115
33,339,785
$ 285,902
$ 14,620,614
$ 35.356,610
$ 94,173,952
$ 94,105,895
$ $ - $ 1,576,648 $ 2,607,127
- 1,574,442 2,136,930
- 511,969 348,358
108,778 - - 108,778 106,218
- - 34,970,000 34,970,000 35,300,000
- - 386,610 432,620 382,796
108.778 - 35,356,610 39,174,457 40,881,429
- 14,620,614 - 14,620,614
14,242,846
- - - 172,887
-
- - - 531,191 -
574,127
- - - 2,335,495
2,333,376
_ 6,358,788
5,857,163
177,124 - - 177,124
190,924
_ - 14,304,023
15,957,369
_ _ - 1,800,000
1,720,000
- - - 1,000,000
1,000,000
- - - 300,000
300,000
- - - 4,000,000
5,000,000
- - - 9,399,373
6,048,661
177,124 14,620,614 - 54,999,495
53,224,466
$ 285,902 $ 14 620,614 $ 35,356 610 $ 94,173,952 $ 94,105,895
a
CITY OF ROSEMEAD, CALIFORNIA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
Year Ended June 30, 2000
General
Governmental Fund Types
Special Debt
Revenue Service
Capital
Projects
Revenues:
Property taxes and special assessments
$
$ 428,609 $
-
$ 2,990,564
Other taxes
4,266,791
-
-
-
Intergovernmental
4,281,790
3,077,211
-
-
Licenses and permits
917,350
-
-
-
Charges for services
662,094
-
-
-
Fines, forfeitures and penalties -
173,293
275,382
-
-
Use of money and property
664,682
532,006
138,648
733,370
Other
46,359
4,190
-
29,991
Total revenues
11,012,359
4,317,398
138,648
3,753,925
Expenditures:
_
Current:
General government
1,959,506
150,091
-
91,270
Public safety
4,500,649
569,202
-
-
Public works
88,276
2,221,928
-
1,996,453
Public health
-
-
-
-
Public recreation
2,242,859
-
-
-
Community services
1,218,164
298,553
-
-
Capital outlay
201,981
79
-
-
Debt service:
Principal
-
-
330,000
-
Interest
-
-
1,942,258
-
Total expenditures
10,211,435
3,239,853
2,272,258
2,087,723
Revenues over (under) expenditures
800,924
1,077,545
(2,133,610)
1,666,202
Other financing sources (uses):
Operating transfers: _
From other funds
1,097,300
499,051
2,135,729
-
(To) other funds
(262,532)
(150,000)
-
(3,319,548)
Total other financing sources (uses)
834,768
349,051
2,135,729
(3,319,548)
Revenues and other financing sources over
(under) expenditures and other financing (uses)
1,635,692
1,426,596
2,119
(1,653,346)
Fund balance, beginning
12,808,605
7,691,346
2,333,376
15,957,369
Fund balance, ending
$ 14,444,297
$ 9,117,942 $
2,335,495
$ 14,304,023
See Notes to Financial Statements.
5
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1
Totals (Memorandum Onl)~_
2000 1999
$ 3,419,173
$ 3,237,567
4,266,791
3,999,539
7,359,001
10,120,540
917,350
964,567
662,094
643,385
448,675
625,756
2,068,706
2,244,326
80,540
155,534
19,222,330
21,991,214
2,200,867
1,948,412
5,069,851
5,259,501
4,306,657
8,524,188
-
43,844
2,242,859
2,030,237
1,516,717
2,085,868
202,060
419,087
330,000
310,000
1,942,258
1,960,187
17,811,269
22,581,324
1,411;061
(590,110)
3,732,080 3,921,435
(3,732,080) (3,921,435)
1,411,061 (590,110)
38,790,696 39,380,806
$ 40,201,757 $ 38,790,696
6
CITY OF ROSEMEAD, CALIFORNIA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANCES IN FUND BALANCES
BUDGET AND ACTUAL
ALL GOVERNMENTAL FUND TYPES
Year Ended June 30, 2000
General
Variance
Favorable
Budget
Actual
(Unfavorable)
Revenues:
Property taxes and special assessments
$ - $
-
$ -
Other taxes
4,019,500
4,266,791
247,291
Intergovernmental
3,552,900
4,281,790
728,890
Licenses and permits
805,600
917,350
111,750
Charges for services
534,850
662,094
127,244
Fines and forfeitures
290,000
173,293
(116,707)
Use of money and property
615,400
664,682
49,282
Other
31,600
46,359
14,759
Total revenues
Expenditures:
Current:
General government
Public safety
Public works
Public health
Public recreation
Community services
Capital outlay
Debt service:
Principal
Interest
9,849,850 11,012,359 1,162,509
1,974,690
1,959,506
15,184
5,199,980
4,500,649
699,331
73,840
88,276
(14,436)
42,000
-
42,000
2,246,130
2,242,859
3,271
1,248,200
1,218,164
30,036
430,740
201,981
228,759
Total expenditures
Revenues over (under) expenditures
Other financing sources (uses):
Operating transfers:
From other funds
(To) other funds
Revenues and other financing sources
over (under) expenditures and
other financing (uses)
Fund balance, beginning
Fund balance, ending
See Notes to Financial Statements.
11,215,580 10,211,435 1,004,145
(1,365,730) 800,924 2,166,654
2,069,020 1,097,300 (971,720)
(262,532) (262,532)
2,069,020 834,768 (1,234,252)
$ 703,290 1,635,692 $ 932,402
12,808,605
$ 14,444,297
7
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Special Revenue
Debt Service
t
Variance
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
'
$ 360
000
$ 428
609
$ 68
609 $
-
$ -
$ -
,
,
,
'
7,169,186
3,077,211
(4,091,975)
8,500
-
(8,500)
-
-
-
70,000
275,382
205,382
-
-
-
435,850
532,006
96,156
135,000
138,648
3,648
5000
4190
(810)
8,048,536
4,317,398
(3,731,138)
135,000
138,648
3,648
'
5,112,040
150,091
4,961,949
-
- -
'
639,180
569,202
69,978
6,140,550
2,221,928
3,918,622
-
- -
326,186
298,553
27,633
-
- -
3,500
79
3,421
-
- -
'
-
-
-
330,000
330,000 -
-
-
-
1,942,260
1,942,258 2
t
12,221,456
3,239,853
8,981,603
21272,260
2,272,258 2
(4,172,920)
1,077,545
5250,465
(2,137,260)
(2,133,610) 3,650
4,803,180
499,051
(4,304,129) 2,272,260 2,135,729 (136,531)
(5,924,900)
(150,000)
5,774,900 - - -
'
(1,121,720)
349,051
1,470,771 2272260 2,135,729 (136,531)
'
$ (5294,640)
1,426,596 $
6,721,236 S 135,000 2,119 $ (132,881)
' 7,691,346 2,333,376
$ 9,117,942 $ 3335,495
1
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1
CITY OF ROSEMEAD, CALIFORNIA
'
COMBINED STATEMENT OF REVENUES, EXPEND
ITURES AND CHANGES IN FUND BALANCES,
CONTINUED
BUDGET AND ACTUAL
ALL GOVERNMENTAL FUND TYPES
'
Year Ended June 30, 2000
Capital Project
'
Variance
Favorable
Budget Actual
(Unfavorable)
'
Revenues:
Property taxes and special assessments
$ 2,800,000 $ 2,990,564
$ 190,564
Other taxes
- -
-
Intergovernmental
'
Licenses and permits
Charges for services
Fines and forfeitures
- -
-
'
Use of money and property
330,000 733,370
403,370
Other
29,991
29,991
1
Total revenues
Expenditures:
Current:
General government
Public safety
Public works
Public health
Public recreation
-Community services
Capital outlay
Debt service:
Principal
Interest
3,130,000 3,753,925 623,925
334,100 91,270 242,830
7,131,950 1,996,453 5,135,497
7,466,050 2,087,723 5,378,327
Total expenditures
Revenues over (under) expenditures
I
Other financing sources (uses):
Operating transfers:
From other funds
(To) other funds
Revenues and other financing sources
over (under) expenditures and
other financing (uses)
Fund balance, ending
Fund balance, beginning
See Notes to Financial Statements.
(4,336,050) 1,666,202 6,002,252
585,279 - (585,279)
(1,532,579) (3,319,548) (1,786,969)
(947,300) (3,319,548) (2,372,248)
_5____C5,283,350 ) (1,653,346) $ 3,630,004
15,957,369
$ 14,304,023
10
CITY OF ROSEMEAD
STATEMENTS OF CHANGES IN PLAN NET ASSETS
PENSION TRUST FUND
Year Ended June 30, 2000
(With Comparative Actual Amounts for the Year Ended June 30, 1999)
Additions:
Interest income on cash and investments
Total additions
Deductions:
Benefits paid to participants and beneficiaries
Administrative expenses
Total deductions
Net (decrease) in plan net assets
Net assets held in trust for pension benefits, beginning
Net assets held in trust for pension benefits, ending
See Notes to Financial Statements.
2000 1999'
$ 10,027 $ 11,846
10,027 11,846
20,210
20,719
3,617
3,644
23,827
24,363
(13,800)
(12,517)
190,924
203,441
$ 177,124 $
190,924
11
I
I NOTES TO FINANCIAL STATEMENTS
CITY OF ROSEMEAD, CALIFORNIA
' Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups, and
Significant Accounting Policies
' Reporting entity
As required by generally accepted accounting principles, these financial statements present the
government and its component units, entities for which the government is considered to be financially
accountable. Blended component units, although legally separate entities, are, in substance, part of the
government's operations and are controlled by common governing boards enabling the City to impose its
will on its component units; therefore, data from these units is combined with data of the primary
government. The blended component units included in the City of Rosemead (the City) reporting entity
are the Rosemead Redevelopment Agency (the Agency) and the Rosemead Housing Development
' Corporation (the Corporation), which is a component unit of the Agency. The component units have the
same fiscal year as the City. Separately issued financial statements for the component units can be
obtained from the City Clerk.
' Nature of operations
' City of Rosemead
The City was incorporated in August 1959 under the general laws of the State of California. The City
operates under an elected Council/City Manager form of government. It provides a broad range of
' services to its citizens, including general government, public safety, streets, sanitation and health, cultural
and park facilities, and social services.
' Many of the functions often provided by municipal government are, in the City, provided by special
districts. Examples of some of these special districts, which usually encompass areas larger than the City
itself, are the Fire Protection District, the Library District and the County Flood Control District. Certain
other governmental functions are paid for by the City, but performed by a variety of other public and
private agencies under contract. Some of the contracts now in effect are for police, street maintenance
and animal control.
' Rosemead Redevelopment Agency
The Agency's purpose is to prepare and carry out plans for the improvement, rehabilitation and
' redevelopment of blighted areas within the City.
The Agency finances street, park and utility improvements, and also acquires and constructs major capital
facilities, all within the Rosemead Project Area No. 1.
Rosemead Housing Development Corporation
' The Corporation accounts for the construction, financing and operations of low-moderate income
housing. It is a California nonprofit benefit corporation organized under Section 501(c)(3) of the Internal
' Revenue Code.
1 12
1
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS '
Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups, and
'
Significant Accounting Policies, Continued
Measurement focus, basis of accounting and basis ofpresentation
t
The accounts of the City and its component units are organized and operated on the basis of funds and
account groups. A fund is an independent fiscal and accounting entity with a self-balancing set of
'
accounts. Fund accounting segregates funds according to their intended purpose and is used to aid
management in demonstrating compliance with finance-related legal and contractual provisions. The
minimum number of funds are maintained consistent with legal and managerial requirements. Account
groups are a reporting device to account for certain assets and liabilities of the Governmental Funds not
'
recorded directly in those funds.
The City has the following fund types and account groups:
,
Governmental. Funds are used to account for the general government activities. Governmental Fund
Types use the flow of current financial resources measurement focus and the modified-accrual basis of
'
accounting. Under the modified-accrual basis of accounting, revenue is recognized when susceptible to
accrual (i.e., when they are measurable and available). "Measurable" means the amount of the transaction
can be determined and "available" means collectible within the current period or soon enough thereafter
'
to pay liabilities of the current period. The government considers all revenue available if it is collected
within 60 days after year end. Expenditures are recorded when the related fund liability is incurred,
except for unmatured interest on general long-term debt, which is recognized when due, and certain
'
compensated absences and claims and judgments, which are recognized when the obligations are
expected to be liquidated with expendable available financial resources.
In determining when to recognize intergovernmental revenue (grants, subsidies and shared revenue), the
'
legal and contractual requirements of the individual programs are used as guidance. There are, however,
essentially two bases for this revenue recognition. In one, moneys must be expended on the specific
purpose or project before any amounts will be paid to the City; therefore, revenue is recognized based
,
upon the expenditures recorded. In the other, moneys are virtually unrestricted as to purpose of
expenditure and nearly irrevocable, i.e., revocable only for failure to comply with prescribed compliance
requirements, e.g., equal employment opportunity. These resources are reflected as revenue at the time of
'
receipt, or earlier if they meet the criterion of availability. Other major revenue that is determined to be
susceptible to accrual includes taxes and interest. Major revenue that is determined not to be susceptible
to accrual because it is either not available soon enough to pay liabilities of the current period or not
,
objectively measurable include licenses, permits, fines and forfeitures.
Expenditures are recorded when the liability is incurred, except for interest on long-term debt and sick ,
pay, which are recorded when paid. Vacation pay is recorded as an expenditure in the year it is earned to
the extent it is paid in that year or within 90 days after year end; otherwise, it is recorded as an
expenditure when it is paid. Estimated losses on insurance claims are charged to expense in the period '
the loss is determinable.
Agency funds are custodial in nature and do not present results of operations or have a measurement '
focus. Agency funds are accounted for using the modified-accrual basis of accounting. The City's
Agency fund is used to account for assets that the City holds for others in an agency capacity.
1
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CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups, and
Significant Accounting Policies, Continued
The accrual basis of accounting is used for the Pension Trust Fund utilizing the flow of economic
resources measurement focus. Under the accrual basis of accounting, revenue is recognized when earned
and expenses are recorded when incurred.
Governmental Fund Types
The General Fund accounts for all financial resources except those required to be accounted for in
another fund. These resources are devoted to financing the general services that the City performs for its
citizens.
Special Revenue Funds account for the proceeds of specific revenue sources (other than special
assessments, expendable trusts and major capital projects) that are legally restricted to expenditures for
specified purposes. The Special Revenue Funds and their purposes are as follows:
The Traffic Safety Fund accounts for the receipt of vehicle code fines which are expended for traffic .
safety enforcement.
The State Gas Tax Fund accounts for funds collected from the State of California which are used for
street construction, street maintenance, engineering and administrative costs.
The Air Quality Management District Fund accounts for the City's share of automobile registration
fees collected from the State by the South Coast Air Quality Management District. The funds are used
in improving transportation systems and to reduce reliance on private vehicles.
The Local Transportation Fund accounts for state grants used to finance the construction of bikeways
and sidewalks.
The Public Transportation Fund accounts for the City's share of additional sales tax collected in the
County of Los Angeles as a result of Propositions A and C. The funds are used to finance public
transportation projects.
The Community Development Block Grant Fund accounts for Community Development Block Grants
received from the United States Department of Housing and Urban Development.
The 1976 Community Parklands Grant Fund accounts for funds to be used for park projects.
The Street Lighting Fund accounts for the operation of street lights within the City.
The Narcotics Seizure Fund accounts for the funds received from the County of Los Angeles from the
confiscation of cash and other valuables seized during drug-related police raids. The funds are used to
further enhance the City's drug-related crime prevention and detection programs.
The Low-Moderate Income Housing Set-Aside Fund accounts for the 20% of gross property tax
increment revenue received by the Agency to fund future projects involving the replacing or
rehabilitation of low-moderate income housing within City limits.
1 14
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS '
Note I. Reporting Entity, Nature of Operations, Description of Funds and Account Groups, and '
Significant Accounting Policies, Continued
The Rosemead Housing Development Corporation accounts for the construction and financing of low- ,
moderate income housing. It is a California nonprofit public benefit corporation organized under
Section 501(c)(3) of the Internal Revenue Code.
The California Wildlife Grant Fund accounts for a state grant for preapproved specified park projects.
The Federal Highway Grant Fund accounts for Federal Highway/Transportation Acts which are used '
for preapproved highway projects. Application and funding processes are administered by CalTrans.
The Debt Service Fund accounts for the accumulation of resources for the payment of general long-term '
debt principal, interest and related costs.
Capital Projects Fund (Redevelopment Fund) accounts for financial. resources, to be used for the '
improvement and rehabilitation of the community redevelopment project areas and acquisition or
construction of major capital facilities within the Agency.
Fiduciary Fund Types '
Fiduciary Funds account for assets held by the government in a trustee capacity or as an agent on behalf
of others. Trust funds account for assets held by the government under the terms of a formal trust '
agreement. The City's Fiduciary Fund Types are as follows:
The Pension Trust Fund, a nonexpendable trust fund, accounts for the activity of the retirement plan '
for employees of the City using the accrual basis of accounting.
The Agency Fund accounts for the assets held in a trustee capacity or as an agent. The cash being held. '
primarily represents amounts placed on deposit for refundable permits and performance bonds. The
Agency fund is custodial in nature and does not present results of operations or have a measurement
focus.
Account Groups '
The General Fixed Assets Account Group is used to account for the City's fixed assets. ,
The General Long-term Debt Account Group is used to account for general long-term debt and certain
other liabilities that are not specific liabilities of proprietary or trust funds. ,
Management has the ultimate responsibility for the appropriateness of the accounting policies and
procedures used by the City. ,
I
15
CITY OF ROSEMEAD, CALIFORNIA
' NOTES TO FINANCIAL STATEMENTS
' Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups, and
Significant Accounting Policies, Continued
' The following is a summary of significant accounting policies:
' Cash investments and other investments
The City pools cash and investment resources of some of its funds in order to facilitate the management
of cash. Cash applicable to a particular fund is readily identifiable. The balance in the pooled cash
' accounts is available to meet current operating requirements.
Investments are stated at fair value. Fair value is the amount at which a financial instrument could be
' exchanged in a current transaction between willing parties, other than in a forced liquidation. The fair
value of the investments is generally based on published market prices and quotations from major
investment firms. Investment earnings are allocated based on the source of funds.
' Receivables
Property taxes attach as an enforceable lien on property as of March 1. Taxes are levied on July 1 and are
payable in two installments on December 10 and April 10. The County of Los Angeles bills and collects
the property taxes and remits them to the City in installments during the year. Property taxes received
O within 60 days after the City's fiscal year end are considered "measurable" and "available" and are
accrued in the City's financial statements.
All other receivables are reported at their gross value and, where appropriate, are reduced by the
estimated portion that is expected to be uncollectible.
Property and equipment
a All property and equipment of the City are accounted for in the general fixed assets account group.
Public domain (infrastructure) general fixed assets, consisting of certain improvements other than
8 buildings, such as roads, sidewalks and bridges, are not capitalized. Property and equipment acquired or
constructed for general governmental operations are recorded as expenditures in the fund making the
expenditure and capitalized in the general fixed assets account group.
All general fixed assets which were purchased or constructed are stated at cost. Assets acquired by gift or
bequest are recorded at their fair market value at the date of transfer. No depreciation is recorded on
general fixed assets.
Deferred revenue
Under the modified accrual basis of accounting, revenues often are measurable but not available
(available meaning legally available, administratively available and physically available). When revenue
is measurable but not available, the asset should be recorded to establish accountability and the revenue
' should be deferred.
Deferred revenue may also result from revenues being collected in advance of the fiscal year to which
' they apply or in advance of their legal due date.
1 16
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS '
Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups, and t
Significant Accounting Policies, Continued
Fund balances
The reserved portion of the fund balances represents that amount which has been legally identified for the
specific purpose or it represents that amount which is not available to liquidate current liabilities. The '
unreserved portion represents the amount available for budgeting future operations. Designated fund
balances represent tentative plans for future use of financial resources.
Vacation pay and compensatory time
City employees accumulate vacation hours which may be paid upon termination, death or retirement. ,
Employees can accumulate up to three weeks of accrued vacation per year depending on the length of
employment. Employees can accumulate up to 160 hours of sick leave. Any hours in excess of 160 are
considered to be vested and are paid to the employee based on a vesting schedule. In addition, employees ,
can accrue compensatory time.
The City allows employees who have earned vacation time an opportunity to have the City buy back up to
two weeks of vacation time per year. In order to participate in the Vacation Buy-Back Program, an '
employee must take at least 40 consecutive hours of vacation at one time.
The vested portion of vacation and sick leave by employees at June 30, 2000 that is expected to be paid '
within 90 days after year end is included in accrued liabilities in the General Fund. The amount not
expected to be paid within 90 days is included in the General Long-term Debt Account Group.
"Memorandum Only" total columns '
Included on the combined financial statements are total columns captioned "Memorandum- Only" to '
indicate that they are presented only for informational purposes. Adjustments to eliminate interfund
transactions have not been recorded in arriving at such amounts and the memorandum totals are not
intended to fairly present the financial position or results of operations of the reporting entity taken as a ,
whole.
Additionally, the 1999 totals presented in the "Memorandum Only" columns are included to provide a
summarized comparison with comparable 2000 amounts and are not intended to present all information ,
necessary for a fair presentation of financial position and results of operations in accordance with
generally accepted accounting principles.
Comparative datalreclassifrcation '
Comparative total data for the prior year have been presented in selected sections. of.the. accompanying
financial statements in order to provide an understanding of the changes in the government's. financial
position and operations and are not intended to present all information necessary for a fair presentation of
financial position or results of operations in accordance with generally accepted accounting principles.
Also, certain amounts presented in the prior year data have been reclassified in order to be consistent with
the current year's presentation.
I
17
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
' Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups, and
Significant Accounting Policies, Continued
' Budget matters
The annual budget adopted by the City Council provides for the general operation of the City. It includes
proposed expenditures and estimated revenue for all Governmental Fund Types.
' Budgets presented in this report for comparison to actual amounts are presented in accordance with
generally accepted accounting principles. Reported budget amounts represent the original adopted budget
as amended.
' The City Manager is authorized to make transfers of appropriations within a department. Transfers of
appropriations between departments require the approval of the governing council. The legal level of
budgetary control is the department level. The governing council made several supplemental budgetary
' appropriations throughout the year, none considered to-be material.
In all funds, unexpended budgeted amounts lapse at the end of the budget year.
Note 2. Cash and Investments
The components of cash and investments at June 30, 2000 are as follows:
Cash in bank $ 2,642,555
Time certificates of deposit 2,950,000
Cash total 5,592,555
U
Investment in State Treasurer's Investment Pool
Investment in annuity contracts
Other investments
25,308,847
177;124
5,334,000
0
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Investments total
Cash and investments total
Cash
30,819,971
$ 36,412,526
The City maintains cash and investment pools that are available for use by all funds. Each fund's or fund
type's share of the pool balance is reported in the financial statements as cash and cash investments.
Earnings from the pooled investments are allocated monthly to each participating fund based on a formula
that takes into consideration each fund's average investment in the pool.
At year end, the carrying amount of the City's deposits (i.e., cash in bank and time certificates of deposit)
was $5,592,555 and the bank balance was $6,343,808.
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CITY OF ROSEMEAD, CALIFORNIA '
NOTES TO FINANCIAL STATEMENTS '
Note 2. Cash and Investments, Continued
In accordance with state statutes, the City maintains deposits at those depository institutions insured by
the Federal Depository Insurance Corporation. The California Government Code requires California '
banks and savings and loan associations to collateralize governmental entities' deposits by pledging
government securities as collateral. The market value of pledged securities must equal at least 110% of a
city's deposits. California law also allows financial institutions to secure City deposits by pledging first '
trust deed mortgage notes having a collateral value of 150% of an the entity's total deposits.
The cash and nonnegotiable certificates of deposit are classified in three categories of credit risk as '
follows: Category one includes deposits that are insured or collateralized with securities held by the
entity or by its agent in the entity's name; Category two includes deposits that are collateralized with
securities held by the pledging financial institution's Trust Department or agent in the entity's name; '
Category three includes deposits that are uncollateralized:
Bank
Category 1
Category 2 Category 3
Balance
Deposits:
Cash
$ 560,036
$ 2,833,772 $ -
3,393,808
Certificates of deposit
45,528
2,907,472 -
2,950,000
'
$ 602,564
$ 5,741,244 $ -
6,343,808
Investments
State statutes authorize the City to invest any available funds in securities issued or guaranteed by the '
United States Treasury or agencies of the United States, bank certificates of deposit, bankers acceptances,
negotiable certificates of deposit, the State Treasurer's Investment Pool (LAIF), repurchase agreements,
commercial paper and bonds, registered warrants or treasury notes of the State of California and its local '
agencies. An advisory board has been established to monitor the LAIF's compliance with regulations and
investment alternatives established by the state.
Investments in annuity contracts included $177,124 invested in the Pension Trust Fund. This investment '
was carried at market value.
The City participates in a voluntary external investment pool, LAIF, which is managed by the State '
Treasurer. LAIF has oversight provided by the Local Agency Investment Advisory Board. The Board
consists of five members as designated by state statute. The Chairman of the Board is the State Treasurer
or his designated representative. The fair value of the City's shares in the pool approximates the fair value '
of the position in the pool.
At June 30, 2000, the City's pooled investments in LAIF in the amount of $25,308,847 are not subject to
custodial credit risk categorization. The total estimated fair value invested by all public agencies in LAIF
is $43,227,355,507. Of that amount, 93.77% is invested in nonderivative financial products, and 6.23%
in derivative financial products. '
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CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
I Note 2. Cash and Investments, Continued
' Other investments are categorized in the three categories of credit risk and fair value as follows:
Category one includes investments that are insured, registered or for which the securities are held by the
City or its agent in the City's name; Category two includes investments that are uninsured and
unregistered for which the securities are held by the counterparty's Trust Department (if a bank) or agent
in the City's name; Category three includes investments that are uninsured and unregistered for which
the securities are held by counterparty's Trust Department (if a bank) or agent, but not in the City's name:
Category Fair
Investment Type 1 2 3 Value
U.S. govemment and government
Agency securities $ _ $ $ 4,839,981 $ 4,839,981
State and municipal bonds 494,019 494,019
1 $ $ $ 5,334,000 5,334,000
Investment in State Treasurer's
Investment Pool 25,308,847
Investment in annuity contracts 177,124
a Total other investments $ 30,819,971
Restricted cash and investment
U All restricted cash and investments of the City are held by trustees or an escrow agent. The California
Government Code provides that these funds, in the absence of specific governing provisions to the
contrary, may be invested in accordance with the resolution or indentures that specify the allowable
a investment of bond proceeds and funds earmarked for bond repayment.
At June 30, 2000, the City's restricted cash and investment of $2,324,304 are not subject to custodial
credit risk categorization, which includes $2,322,187 invested in a guaranteed investment contract which
accrues interest monthly at a rate of 5.8%, maturing October 1, 2013.
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CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 3. Receivables
Receivables as of June 30, 2000 consist of the following:
Special
General Revenue
Property tax increment $ - $
Accrued interest 151,991 82,378
Due from local utility
companies w
Due from other governmental
agencies
Transient occupancy tax
Other
531.191
Capital
Debt Service Projects Total
- $ 134,006 $ 134,006
11,191 203,468 449,028
531,191
459,421 1,606,799 2,066,041
226,304 - 226,304
194,074 1,934 109,991 305,999
$ 1,562,802 $ 1,691,111 $ 11,191 $ 447,465 $ 3,712,569
" During the fiscal year ended June 30, 1987, the Agency approved a reimbursement agreement with
a local utility company, advancing the utility company funds required to install a water line and a
water main extension. The total amount advanced was $493,807. The Agency then contributed the
receivable to the City at the present valued amount. The City is to collect this receivable from the
utility company in 40 annual installments of $12,345, with the final installment due June 30, 2027.
During the fiscal year ended June 30, 1990, the Agency approved a similar reimbursement
agreement with a local utility company, advancing the utility company funds required to replace
various water mains. The total amounts advanced under this agreement were $334,705 during the
fiscal year ended June 30, 1990 and $29,372 during the fiscal year ended June 30, 1992. The
Agency then contributed the receivables to the City. The City is to collect the receivables from the
utility company in 15 noninterest-bearing annual installments of $35,987 and $1,958, with the final
installments due June 30, 2005 and September 30, 2006.
During the fiscal year ended June 30, 1991, the Agency approved an additional reimbursement
agreement with a local utility company, advancing the utility company funds required to install a
water main and fire service improvements. The total amount advanced was $311,600. The Agency
then contributed the receivable to the City at the present valued amount of $212,431. The City is to
collect this receivable from the utility company in 15 annual installments of $20,773, with the final
installment due June 30, 2006.
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CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 4. Interfund Receivables and Payables
Interfund receivables and payables as of June 30, 2000 are as follows:
Interfund
Funds Receivables Payables
General Fund
Special Revenue Funds:
Traffic Safety
Narcotics Seizure
Community Development Block Grant
$ 1,574,442 $
- 52,513
- 40,600
- 142,445
- 1,134,511
1,370,069
' Capital Projects Fund - 204,373
$ 1,574,442 $ 1,574,442
Note 5. Property and Equipment
Changes in property and equipment during the fiscal year ended June 30, 2000 were as follows:
Balance, Balance,
a July 1, 1999 Acquisitions Disposals June 30, 2000
Land $ 4,730,565 $ - $ 79,000 $ 4,651,565
Buildings and improvements 6,406,852 37,944 - 6,444,796
Vehicles 268,722 268,722
Furniture and office equipment 1,362,749 339,849 800 1,701,799
0 Special equipment and machinery 605,475 79,775 - 685,249
Other improvements 868,483 868,483
A $ 14,242,846 $ 457,568 $ 79,800 $ 14,620,614
Note 6. Employee Pension Plans
Defined contribution pension plan
The City had a defined contribution pension plan which covered substantially all retired employees and
was funded by a group annuity contract. Plan participants became vested upon the dissolution of the plan
on September 8, 1992. There were no subsequent contributions to this plan. On September 8, 1992,
participants of the plan who were current employees had their share of the annuity contract transferred to
the California Public Employee Retirement System (CalPERS). The value of the annuity contract for
retired employees was $177,124 as of June 30, 2000.
1 22
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 6. Employee Pension Plans, Continued
Defined benefit pension plan
Plan description
The City contributes to the CaIPERS, an agent multiple-employer public employee defined benefit
pension plan. CaIPERS provides retirement and disability benefits, annual cost-of-living adjustments and
death benefits to plan members and beneficiaries. CaIPERS acts as a common investment and
administrative agent for participating public employers within the state of California. Benefit provisions,
as well as other requirements, are established by state statutes within the Public Employees' Retirement
Law. The City selects optional benefit provisions from the benefit menu by contract with CaIPERS and
adopts those benefits through local ordinance. CaIPERS issues a publicly available financial report that
includes, financial statements and required supplementary information. That report may be obtained from
their executive office at 400 P Street, Sacramento, California 95814.
Funding policy
Participants are required to contribute 7% of their annual covered salary. The City makes the
contributions required of City employees on their behalf and for their account. The City is required to
contribute at an actuarially determined rate; the current rate is 5.67% of annual covered payroll for
miscellaneous employees. The contribution requirements of plan members and the City are established
and may be amended by CaIPERS.
Annual pension cost
For the fiscal year ended June 30, 2000, the City's annual pension cost of $220,693 for CaIPERS was
equal to the City's required and actual contributions. The required contribution was determined as part of
the latest actuarial valuation, June 30, 1998, using the entry age normal actuarial cost method with the
contributions determined as a percent of pay. The actuarial assumptions included (a) 8.25% investment
rate of return (net of administrative expenses); (b) projected salary increases that vary by duration of
service ranging from 3.75% to 14.20% and (c) 3.75% cost-of-living adjustment. Both (a) and (b) include
an inflation component of 3.50%. The actuarial value of CaIPERS' assets was determined using
techniques that smooth the effects of short-term volatility in the market value of investments over a three-
year period. CaIPERS' unfunded actuarial accrued liability is being amortized as a level percentage of
projected payroll on a closed basis. The average remaining amortization period at June 30, 2000 was 30
years.
Three-year trend information for CaIPERS:
Annual
Percentage
Pension Cost
of APC Net Pension
Fiscal Years Ended June 30,
(APC)
Contributed Obligation
1998
$ 167,161
100 % $
1999
241,318
100
2000
220,693
100
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CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
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Required Supplementary Information
Funded Status of Plan
Entry Age
Unfunded/
Normal
Actuarial
(Over-
Annual
UAAL*
Valuation
Accrued
Value of
funded)
Funded
Covered
as a % of
Date
Liability
Assets
Liability
Ratio
Payroll
Payroll
6/30/96
$ 2,765,067
$ 2,302,007
$ 463,060
83.3 %
$ 1,218,455
38.004 %
6/30/97
3,293,741
2,823,263
470,478
85.7
1,291,438
36.431
6/30/98
3,688,114
3,530,640
157,474
95.7
1,281,785
12.286
* Unfunded Actuarial Accrued Liability
Supplementary Retirement Plan
Plan description
In addition, effective July 1, 2000, the City entered into an agreement with Phase II Systems whereby the
City will contribute to a supplemental Employee Pension Plan (the Plan II), a cost-sharing multiple-
employer defined benefit pension plan administered by Phase II Systems. The Plan will provide a
supplemental 1% retirement benefit to Plan members and beneficiaries. Phase II Systems issues a
publicly available financial report that includes financial statements and required supplementary
information for the Plan. That report may be obtained by writing to Phase 11 Systems, 3961 MacArthur
Boulevard, Suite 200, Newport Beach, California 92660, or by calling 1-800-540-6369.
Funding policy
Plan members are not required to contribute any of their annual covered salary, as the City will be
required to contribute the actuarially determined rate. The estimated rate is 10.24% of annual covered
payroll for the fiscal year ending June 30, 2001. The City expects to fund the initial actuarial calculated
accrued benefit over the first few years of the plan. This liability will be known during the fiscal year
ending June 30, 2001. There were no amounts accrued or paid during the fiscal year ended June 30,
2000.
Note 7. Liability, Property and Workers' Compensation Protection
Description of self-insurance pool pursuant to joint powers agreement
The City is a member of the California Joint Powers Insurance Authority (Authority). The Authority is
composed of 84 California public entities and is organized under a joint powers agreement pursuant to
California Government Code 5600 et seq. The purpose of the Authority is to arrange and administer
' programs for the pooling of self-insured losses, to purchase excess insurance or reinsurance, and to
arrange for group-purchased insurance for property and other coverages. The Authority's pool began
covering claims of its members in 1978. Each member government has an elected official as its
' representative on the Board of Directors. The Board operates through a nine-member Executive
Committee.
1 24
CITY OF ROSEMEAD, CALIFORNIA '
NOTES TO FINANCIAL STATEMENTS ,
Note 7. Liability, Property and Workers' Compensation Protection, Continued
Self-insurance programs of the Authority
General Liability: Each member government pays a primary deposit to cover estimated losses for a fiscal
year (claims year). Six months after the close of a fiscal year, outstanding claims are valued. A
retrospective deposit computation is then made for each open claims year. Costs are spread.to members as ,
follows: the first $20,000 of each occurrence is charged directly to the member; costs from $20,001 to
$500,000 are pooled based on a member's share of costs under $20,000; costs from $500,001 to
$5,000,000 are pooled based on payroll. Costs of covered claims above $5,000,000 are currently paid by
reinsurance. The protection for each member is $50,000,000 per occurrence and $50,000,000 annual
aggregate.
Adequacy ofprotection '
During the past three fiscal (claims) years the general liability program has not had settlements or
judgments that exceeded pooled or insured coverage. There have been no significant reductions in pooled '
or insured liability coverage from coverage in the prior year.
The City participates in the workers' compensation program administered by State Insurance t
Compensation Fund. Annual premiums are first estimated based on estimated losses for the upcoming
fiscal year. Subsequent to the close of the fiscal year, outstanding claims are valued resulting in
retrospective adjustments. The coverage under this arrangement includes statutory liability under ,
California Workers' Compensation Law and any liability under law for damages arising from
employment. Settled claims have not exceeded coverage for these risks in any of the last three fiscal
(claims) years. '
The City has also purchased property protection insurance from a casualty insurance company. However,
the City does not carry insurance coverage for natural disasters. There is a $1,000 per loss deductible.
Premiums for the coverage are paid annually and are not subject to retroactive adjustments.
Note 8. Long-term Debt
Tax allocation bonds, Series 1993A and B
In November 1993, the Agency issued tax allocation bonds in the amount of $34,275,000 (Series 1993A) '
and taxable tax allocation refunding bonds in the amount of $2,435,000 (Series 199313) to finance a
portion of the cost of the redevelopment area known as Project Area No. 1. The bonds bear interest
ranging from 4.6% to 5.6% and 5.2% to 5.9% for Series 1993A and B, respectively. From the proceeds,
$14,652,398 of SeriesA and $2,382,551 of SeriesB, along with the existing reserve amount of $2,651,000
on deposit with the fiscal agent, were used to purchase U.S. government securities. Those securities were
deposited in an irrevocable trust with an escrow agent to provide for all future debt service payments on i
the 1987 and 1991 tax allocation bonds which are, therefore, considered defeased. Series 1993A bonds ■
mature after October 1, 2001 and before October 1, 2033, and Series 1993B bonds mature. on or before
October 1, 2001. 1
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25 1
CITY OF ROSEMEAD, CALIFORNIA
' NOTES TO FINANCIAL STATEMENTS
1 Note 8. Long-term Debt, Continued
' In addition, the 1993 Series A bond issue reallocated the $6,813,850 of proceeds from the 1991 bond
issue deposited in the Low-Moderate Income Housing Set-Aside Fund in October 1991. The reallocation
had the effect of satisfying the present value effect of the $423,574 borrowed from the Educational
' Revenue Augmentation Fund (ERAF) in fiscal year ended June 30, 1993 and satisfying the set-aside
requirements as follows: $812,342 for fiscal year ended June 30, 1992, $828,398 for fiscal year ended
June 30, 1993 and $469,142 for each of the fiscal years ended June 30, 1997 through June 30, 2022.
1 The Tax Reform Act instituted certain arbitrage restrictions with respect to the issuance of tax-exempt
bonds. Arbitrage regulations deal with the investment of all tax-exempt bond proceeds at an interest yield
greater than the interest yield paid to bondholders. Generally, all interest paid to bondholders can be
' retroactively rendered taxable if applicable rebates are not paid to the federal government at least every
five years.
During the current year, the City performed calculations of excess investment earnings on various bonds
and financings in accordance with arbitrage regulations. The City has determined that no arbitrage rebate
liability exists as of June 30, 2000.
Compensated absences
That portion of the liability for the vested compensated absences totaling $386,610, which is not expected
to be paid from available resources, is reported in the General Long-term Debt Account Group.
O Other long-term debt
The following is a summary of the general long-term debt transactions for the fiscal year ended June 30,
2000:
Accrued
Tax Allocation Tax Allocation Vacation and
a Bonds Series Bonds Series Compensatory
1993A 1993B Time Total
Balance, June 30, 1999 $ 34,275,000 $ 1,025,000 $ 373,161 $ 35,673,161
a Payments of principal - (330,000) - (330,000)
Additions 13,449 13,449
Balance, June 30, 2000 $ 34,275,000 $ 695,000 $ 386,610 $ 35,356,610
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CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS ,
Note 8. Long-term Debt, Continued
'
The annual requirements, principal and
interest to amorti
ze the outstand
ing debt as of June 30, 2000 are
as follows:
'
Accrued
Vacation and
'
Series 1993A
Compensa-
During the Fiscal Years Ending June 30,
and B Bonds
tory Time
Interest
Total
2001
$ 345,000
$ 386,610
$ 1,932,853 $
2,664,463
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370,000
-
1,912,843
2,282,843
2003
425,000
-
1,891,273
2,316,273
2004
445,000
-
1,870,873
2,315,873
2005
465,000
-
1,848,622
2,313,622
Years thereafter
32,920,000
-
34,235,820
67,155,820
$ 34,970,000
$ 386,610
$ 45,975,127 $
79,048,894
'
Note 9. Budget Overexpenditures
Expenditures exceeded appropriations for the fiscal year ended June 30, 2000 in the following
departments: ,
General Fund
General government
Travel and meeting
City council
City administration
City clerk
City attorney
Community promotion
Public works
Street and highway construction
Traffic signs and stripping maintenance
Public recreation
Recreation
Dinsmoor Heritage House
Traffic Safety Fund
Public safety
Local Transportation Fund
Public works
Amount
of Over- '
Appropriations Expenditures expenditures
$ 30,000 $ 31,764 $ 1,764 r
86,250
89,079
2,829
597,990
659,307
61,317
106,840
109,107
2,267
,
130,960
132,413
1,453
276,000
296,629
20,629
,
34,200
50,673 -
16,473
-
1,440
1,440
733,450
762,462
29,012
3,950
4,237
287
70
000
275
382
205
382
'
,
,
,
40,000
40,613
613
'
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CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 10. Commitments and Contingent Liabilities
Low-Moderate Income Housing Set-Aside Fund
Under state law, the Agency is required to set aside a portion of its property tax increment revenue for
low-moderate income housing. The Agency has made findings that, for the years ended June 30, 1986
through 1991, it was allowed to defer funding of the set-aside. The set-aside amounts incurred during the
fiscal years ended June 30, 1994, 1995, 1996, 1997 and 1998 were also deferred until the fiscal year
ending June 30, 2023, as provided by the Agency's adoption of the housing deficit repayment plan. As of
June 30, 2000, the accumulated set-aside amount not yet funded was approximately $4,947,000. As
required by law, the Agency devised a plan to fund the accumulating amount.
I Litigation
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The City is a member of the LA County Liability Trust Fund (Trust Fund), which was set up to pay for
litigation involving the Los Angeles County Sheriffs' Department within any of the 40 cities that are
serviced by the Los Angeles County Sheriffs' Department. The Trust Fund was and is being funded by
the 40 cities based upon each city's allocated surcharge, calculated as a percentage of each city's
contribution to the total contracted amount with the County paid to Los Angeles County for the use of its
deputies. Based upon the agreement signed by all of the 40 cities at the time the Trust Fund originated,
the cities will be jointly liable for any and all claims filed against a Los Angeles County Sheriffs' deputy,
regardless of the location within the 40 cities.
In 1998 the County of Los Angeles lost a litigation matter which resulted in a $25,000,000 judgment
against the Los Angeles County Sheriffs' Department, which Los Angeles County has since paid.
Approximately $20,000,000 is still due Los Angeles County from cities with the liability pool, including
the City of Rosemead. The City believes its share of this liability is approximately 3%, or $600,000,
which will be paid by the Trust Fund to Los Angeles County over the next ten years and accrue at 4%
interest. No additional liability will be incurred by the City. However, if the City decided to terminate its
association with the Trust Fund, it would become immediately liable for its share of the remaining
liability.
Advance agreement
In February 1995, the Agency approved an agreement with a local utility company to advance the utility
company $117,600 required to install water distribution mains within the Agency redevelopment area.
The agreement was put on hold by the Agency and, as of September 8, 2000, the agreement remains on
hold.
Note]]. Pronouncements Issued but Not Yet Adopted
In December 1998, the Governmental Accounting Standards Board (GASB) issued Statement of
Governmental Accounting Standards No. 33, Accounting and Financial Reporting for Nonexchange
Transactions. This Statement establishes accounting and financial reporting standards for nonexchange
transactions involving financial or capital resources (e.g., most taxes, grants and private donations). In a
nonexchange transaction, a government gives (or receives) value without directly receiving (or giving)
equal value in return. Statement No. 33 is required to be adopted for years beginning after June 15, 2000.
The City has not completed its assessment of the effect that the adoption of Statement No. 33 will have on
its financial statements.
28
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS '
Note 11. Pronouncements Issued but Not Yet Adopted, Continued '
In June 1999, the GASB issued Statement of Governmental Accounting Standards No. 34, Basic
Financial Statements - and Management's Discussion and Analysis - for State and Local
'
Governments. This Statement establishes a new financial reporting model for state and local
governments. This new model requires that, at a minimum, the basic financial statements of a
'
government include (1) management
s discussion and analysis (MD&A) as a component of required
,
supplementary information (RSI), (2) both government-wide financial statements and fund financial
statements, (3) notes to the financial statements and (4) RSI other than MD&A. The comprehensive
annual financial report will still need to include appropriate combining and individual fund statements and
,
schedules as part of the financial section, as well as separate introductory and statistical sections. In
addition, the City will be required to disclose the details about the full cost of providing government
services and to allocate expenses and revenue to allow calculation of net costs program by program. The
City will also need to report all capital assets, including infrastructure assets, and begin to track
depreciation on these items year to year. The City will be required to implement the new financial model
for its fiscal year ending June 30, 2003. However, for purposes of the retroactive reporting of major
networks and subsystems of general infrastructure assets, the City will be required to implement this
'
reporting as of fiscal year ending June 30, 2007. Lastly, the City's component units (i.e., the Rosemead
-
Redevelopment Agency and the. Rosemead Housing Development Corporation) must implement GASB
No. 34 no later than the City's implementation. The City has not completed its assessment of the effect
'
that the adoption of Statement No. 34 will have on its financial statements.
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CITY OF ROSEMEAD, CALIFORNIA
COMBINING AND INDIVIDUAL FUNDS
AND ACCOUNT GROUPS
FINANCIAL STATEMENTS
YEAR ENDED JUNE 30, 2000
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GENERAL FUND
1
The General Fund accounts for all'"financial resources except those required to be
1 accounted for in another fund. These resources are devoted to financing the general
services that the City performs for its citizens.
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CITY OF ROSEMEAD, CALIFORNIA
GENERAL FUND
BALANCESHEET
June 30, 2000
2000
ASSETS
$531,191
Cash and investments $12,729,784 $12,092,438
Receivables 1,562,802 1,268,354
Prepaid Expenses 172,887
Due from other funds 1,574,442 1,010,557
Total Assets $16,039,915 $14,371,349
LIABILITIES AND MUNICIPAL EQUITY
Liabilities
Accounts payable and accrued liabilities $1,134,415
Due to other funds
Deferred revenue 415,193
Accrued vacation pay and compensatory time 46,010
Total Liabilities $1,595,618
Municipal Equity and Other Credits:
Fund Balance:
Reserved:
Long-term receivable
Unreserved:
Designated:
Prepaid expenses
Building and equipment replacement
Litigation settlements
Self-insurance
Contingencies
Undesignated
Total Fund Balance
Total Liabilities, Municipal Equity and Other Credits
33
200,000
1,800,000
1,000,000
300,000
4,000,000
6,613,106
1999
$1,174,263
126,261
252,585
9,635
$1,562,744
$574,127
1,720,000
1,000,000
300,000
4,000,000
5,214,478
$14,444,297 $12,808,605
$16,039,915 $14,371,349
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CITY OF ROSEMEAD, CALIFORNIA
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
2000
REVENUES:
Other Taxes
$4,266,791
Licenses and permits
4,281,790
Intergovernmental
917,350
Charges for services
662,094
Fines, forfeitures and penalties
173,293
Use of money and property
664,682
Other -
46,359
Total Revenue
$11,012,359
EXPENDITURES:
Current:
General government
Public safety
Public works
Public health
Public recreation
Community service
Capital outlay
Total Expenditures
Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
(To) other funds
Total Other Financing Sources (Uses)
Revenues and Other Financing
Sources over(under)expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
34
$1,959,506
4,500,649
88,276
2,242,859
1,218,164
201,981
$10,211,435
$800,924
$1,097,300
(262,532)
$834,768
$1,635,692
12,808,605
$14,444,297
1999
$3,999,539
964,567
3,549,344
635,385
319,076
636,273
155,352
$10,259,536
$1,744,965
4,283,184
480,158
43,844
2,030,237
1,188,555
419,087
$10,190,030
$69,506
$1,097,300
(51,696)
$1,045,604
$1,115,110
11,693,495
$12,808,605
CITY OF ROSEMEAD, CALIFORNIA
GENERAL FUND
REVENUE DETAIL - BUDGET AND ACTUAL
Fiscal Year Ended June 30, 2000
Over
(Under)
Budget
Actual
Budget
1999
TAXES
Maintenance district
$1,500
$1,439
($61)
$1,248
Real estate transfer tax
45,000
66,456
21,456
58,767
Sales and use tax
2,580,000
2,717,017
137,017
2,529,135
Franchise fees
593,000
625,880
32,880
600,899
Transient occupancy tax
800,000
855,999
55,999
809,490
$4,019,500
$4,266,791
$247,291
$3,999,539
LICENSES AND PERMITS
Business license fees
- $35,000
$39,893
$4,893
$38,481
Building permit fees
600,000
722,096
122,096
746,726
Public work permit
50,000
41,310
(8,690)
58,466
Tentative map fees
6,000-
1,950
(4,050)
4,455
Development review fees
1,500
-
(1,500)
849
Final map fees -
20,000
15,725
(4,275)
26,820
Occupancy permit fees
59,000
56,403
(2,597)
55,458
Sewer connection
30,000
35,185
5,185
27,759
Strong motion fees
2,500
4,788
2,288
3,755
Rehabilitation permit fees
1,600
-
(1,600)
1,798
$805,600
$917,350
$111,750
$964,567
INTERGOVERNMENTAL
Financial aid to local agencies
$1,050,000
$1,106,595
$56,595
$940,904
Motor vehicle in lieu tax
2,100,000
2,851,244
751,244
2,579,309
Other vehicle taxes
500
1,016
516
893
COPS Grant
402,400
104,935
(297,465)
28,238
Other State grants
-
218,000
218,000
-
$3,552,900
$4,281,790
$728,890
$3,549,344
CHARGES FOR SERVICES
Filing and certification fees
$50,000
$52,907
$2,907
$41,195
Other current charges
260,800
296,723
35,923
324,006
Environmental impact reports
100
650.
550
-
Recreation fees
201,500
243,590
42,090
224,055
Assessments
1,500
15,697
14,197
14,550
Special community events
20,950
52,527
31,577
31,579
$534,850
$662,094
$127,244
$635,385
FINES, FORFEITURES AND
PENALTIES
Court fines and forfeitures
$290,000
$173,293
($116,707)
$319,076
USE OF MONEY AND PROPERTY
Interest earned on investments
$551,000
$593,379
$42,379
$570,187
Rental hicome
64,400
71,303
6,903
66,086
$615,400
$664,682
$49,282
$636,273
OTHER
SANE program
$12,500
$12,500
$12,500
Repairs to and sale of City property
100
1,420
1,320
13,988
Miscellaneous
19,000
32,439
13,439
128,864
$31,600
$46,359
$14,759
$155,352
Total Revenues
$9,849,850
$11,012,359
$1,162,509
$10,259,536
35
'
CITY OF ROSEMEAD, CALIFORNIA
GENERAL
FUND
EXPENDITURE DETAIL - BUDGET AND ACTUAL
Fiscal Year Ended
June 30, 2000
Over
'
(Under)
Budget
Actual
Budget
1999
GENERAL GOVERNN ENT
'
Travel and meeting
$30,000
$31,764
$1,764
$26,503
City council
86,250
89,079
2,829
74,717
City administration
597,990
659,307
61,317
557,622
'
City clerk
106,840
109,107
2,267
115,746
Finance
335,800
333,278
(2,522)
250,211
City treasurer
1,000
-
(1,000)
10,181
'
City attorney
130,960
132,413
1,453
143,447
General government buildings
373,500
273,584
(99,916)
288,472
Community promotion
276,000
296,629
20,629
252,785
City garage
36,350
34,345
(2,005)
25,281
$1,974,690
$1,959,506
($15,184)
$1,744,965
PUBLIC SAFETY
'
Law enforcement
$4,847,500
$4,192,807
($654,693)
$3,957,012
Animal regulation
52,000
40,440
(11,560)
45,892
Parking control
162,080
149,799
(12,281)
134,414
Crossing guard
128,250
113,215
(15,035)
103,101
Emergency services
10,150
4,388
(5,762)
2,096
$5,199,980
$4,500,649
($699,331)
$4,242,515
PUBLIC WORKS
Engineering and administration
$39,640
$36,163
($3,477)
$47,602
Street and highway construction
34,200
50,673
16,473
430,743
Traffic signs and striping maintenance
1,440
1,440
1,813
$73,840
$88,276
$14,436
$480,158
PUBLIC HEALTH
Public health services
$42,000
($42,000)
$43,844
PUBLIC RECREATION
Administration
$232,130
$223,157
($8,973)
$208,822
Parks
960,790
953,319
(7,471)
896,197
Recreation
733,450
762,462
29,012
662,353
0
Aquatics
315,810
299,684
(16,126)
259,975
Dinsmoor Heritage House
3,950
4,237
287
2,890
$2,246,130
$2,242,859
($3,271)
$2,030,237
8
COMMUNITY SERVICE
Planning
$251,070
$247,147
($3,923)
$230,835
Building regulation
611,600
611,023
(577)
615,983
a
Engineering
259,100
235,819
(23,281)
227,620
Community improvements
126,430
124,175
(2,255)
114,117
$1,248,200
$1,218,164
($30,036)
$1,188,555
a
756
9
CAPITAL OUTLAY
$430,740
$201,981
($228,759)
$45
,
APPROPRIATION RESERVES
Total Expenditures
$11,215,580
$10,211,435
($1,004,145)
$10,190,030
36
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37
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SPECIAL REVENUE FUNDS
i
Special Revenue Funds account for the proceeds of specific revenue sources (other than
1 special assessments, expendable trusts and major capital projects) that are legally restricted
to expenditures for specified purposes.
1
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1 38
I
SPECIAL REVENUE FUNDS
TRAFFIC SAFETY FUND
Established to account for the receipt of vehicle code fines which are expended for traffic
safety enforcement.
STATE GAS TAX FUND
Established to account for funds collected from the State of California which are used for
street construction, street maintenance, engineering and administrative costs.
AIR QUALITY MANAGEMENT DISTRICT FUND
Established to account for funds collected from the State of California which are used for
improving transportation systems and to reduce the reliance on private vehicles.
LOCAL TRANSPORTATION FUND
Established to account for state grants used to finance the construction of bikeways and
sidewalks.
PUBLIC TRANSPORTATION FUNDS
Established to account for the City's share of additional sales tax collected in the County of
Los Angeles as a result of Proposition A and C. The funds are used to finance public
transportation projects.
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
Established to account for Community Development Block Grants received from the
United States Department of Housing and Urban Development.
1976 COMMUNITY PARKLANDS GRANT FUND
Established to account for funds to be used for park projects.
STREET LIGHTING FUND
Established to account for the operation of street lights within the City.
39
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SPECIAL REVENUE FUNDS (cont'd)
' NARCOTICS SEIZURE FUND
Established to account for the funds received from the County of Los Angeles from the
' confiscation of cash and other valuables seized during drug related police raids. The funds
are used to further enhance the City's drug related crime prevention and detection
programs.
' LOW-MODERATE INCOME HOUSING SET-ASIDE FUND
Established to account for the 20% of gross property tax increment revenue received by
the Agency to fund future projects involving the replacing or rehabilitation of low and
moderate income housing within City limits.
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
' Established to account for the construction and financing of low and moderate income
housing. It is a California nonprofit benefit corporation organized under Section 501(c)(3)
' of the Internal Revenue Code of 1986.
CALIFORNIA WILDLIFE GRANT FUND
' Established to account for a state grant for pre-approved specified park projects.
I FEDERAL HIGHWAY GRANTS
' Established to account for the Federal Highway/Transportation Acts which are used for
pre-approved highway projects. Application and funding processes are administered by
Caltrans.
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1 40
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
June 30, 2000
Air Quality
Local
Public
Community
Traffic
State
Management
Trans-
Trans-
Development
Safety
Gas Tax
District
portation
portation
Block Grant
Fund
Fund
Fund
Fund
Fund
Fund
ASSETS
Cash and cash investments
$ -
$462,146
$229,604
$610
$1,357,297
$54,820
Receivables
52,513
9,785
32,187
1,935
128,126
327,399
Due from other funds
TotalAsse[s
$52,513
$4
71,931
$261,791
$2,545
$1,485,423
$382,219.
LIABILITIES AND
MUNICIPAL EQUITY
Liabilities:
Accounts payable
$ -
$84,602
$2,535
$ -
$22,540
$142,998
Due to other funds
52,513
-
-
-
-
142,445
Deferred revenue
-
-
-
-
-
96,776
Total Liabilities
$52,513
$84,602
$2,535
$22,540
$382,219
Municipal Equity:
Reserved for low-moderate
income housing
$ -
$ -
$ -
$ -
$ -
$ -
Unreserved, undesignated
-
387,329
259,256
2,545
1,462,883
-
Total Equity
$ -
$387,329
$259,256
$2,545
$1,462,883
$ -
Total Liabilities and
Municipal Equity
$52,513
$471,931
$261,791
$2,545
$!,485,423
$382,219
41
'
CITY OF ROSEMEAD, CALIFORN
IA
'
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET cont
inued
June 30, 2000
1976
Community
Low-Moderate
Rosemead
'
Parklands
Street
Narcotics Income Hous-
Housing
California
Grant
Lighting
Seizure ing Set-Aside
Development
Wildlife
Fund
Fund
Fund Fund
Corporation
Grant
$51,076
$345,773
$6,276,410
$51,898
$234,321
$36
'
-
35,788
-
82,378
-
-
$51,076
$381,561
$51,898 $6,358,788
$234,321
$36
$11,298 $ -
$19,853
-
-
40,600 -
-
-
'
$0
$51,898
$19,853
$ -
$ - $6,358,788
'
51,076
381,561
- -
214,468
36
$51,076
$381,561
$ - $6,358,788
$214,468
$36
'
$51,076
$381,561
$51,898 $6,358,788
$234,321
$36
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ASSETS
Cash and cash investments
i
Receivables
Due from other funds
i
Total Assets -
LIABILITIES AND
i
MUNICH'AL EQUITY
Liabilities:
i
Accounts payable
Due to other funds
i
Deferred revenue
Total Liabilities
Municipal Equity:
Reserved for low-moderate
income housing
i
Unreserved, undesignated
Total Equity
i
Total Liabilities and
Municipal Equity
i
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CITY OF ROSEMEAD, CALIFORNIA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET continued
June 30, 2000
Federal
Highway
Totals
2000 1999
$113,611 $9,177,602 $7,475,250
1,021,000 1,691,111 2,376,218
- 0 1,126,368
$1,134,611 $10,868,713 $10,977,836
$100
$283,926
$1,180,156
1,134,511
1,370,069
2,010,561
-
96,776
95,773
$1,134,611
$1,750,771
3,286,490
$6,358,788
$5,857,163
-
2,759,154
1,834,183
$9,117,942
$7,691,346
$1,134,611
$10,868,713
$10,977,836
44
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES
Fiscal Year Ended June 30, 2000
REVENUES:
Special assessments
Intergovernmental
Charges for services
Fines, forfeiture and penalties
Use of money and property
Other
Total Revenues
EXPENDITURES:
Current:
General government
Public safety
Public works
Community services
Capital Outlay
Total Expenditure
Revenue over (under)
expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
(To) other funds
Air Quality
Local
Public
Traffic
State Management
Trans-
Trans-
Safety
Gas Tax District
portation
portation
Fund
Fund Fund
Fund
Fund
275,382
$275,382
923,025 63,593 43,158 1,244,451
19,155 28,033 56,771
Revenue and other financing
sources over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$942,180 $91,626 $43,158 $1,301,222
$ -
$ -
275,382
840,944
40,613
622,385
3,000
$275,382
$840,944
$3,000
$40,613
$622,385
$ -
$101,236
$88,626
$2,545
$678,837
$101,236
$88,626
$2,545
$678,837
643,838
170,630
784,046
$745,074
$259,256
$2,545
$1,462,883
45
'
CITY OF ROSEMEAD, CALIFORNIA
'
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES
'
AND
CHANGES IN FUND BALANCES continued
Fiscal Year Ended June 30, 2000
'
1976
Community
Community
Low-Moderate
Rosemead
Development
Parklands
Street Narcotics
Income Housing
Housing
'
Block Grant
Grant
Lighting Seizure
Set-Aside
Development
Fund
Fund
Fund Fund
Fund
Corporation
$ -
$ -
$428,609 $ -
$ -
$ -
802,984
'
2,741
265,106
160,200
=
4,190
$802,984
$2,741
$428,609 $0
$265,106
$164,390
'
$ _
$ _
$150,091
'
241,922 51,898
604,375
295,553
'
79
$900,007
$241,922 $51,898
$150,091
($97,023)
$2,741
$186,687 ($51,898)
$265,106
$14,299
'
$
97,023
$ -
$ - 51,898
$236,519
-
(150,000)
19
000
$150
$97,023
$51,898
$236,5
)
,
(
$5
1
625
701)
$135
$2,741
$186,687
,
0
,
(
'
48,335
194,874
5,857,163
350,169
$51,076
$381,561
$6,358,788
$214,468
'
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47
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CITY OF ROSEMEAD, CALIFORNIA
'
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES
'
AND CHANGES IN FUND BALANCES continued
Fiscal Year Ended June 30, 2000
t
' REVENUES:
Special assessments
Intergovernmental
Charges for services
Fines, forfeiture and penalties
Use of money and property
Other
EXPENDITURES:
Current:
General government
' Public safety
Public works
' Community services
OTHER FINANCING SOURCES (USES):
' Operating transfers:
From other funds
(To) other funds
1 Revenue and other financing
sources over (under) expenditures
' FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
California
Federal
Wildlife
Highway
Grant
Grants
$0
113,611
$113,611
Totals
1999
$428,609
3,077,211
0
275,382
532,006
4,190
$4,317,398
$150,091
569,202
2,221,928
79
$2,941,300
$1,191,156
1998
$367,277
6,571,196
8,000
306,680
725,466
$7,978,619
$152,870
976,317
5,369,683
. 897,313
$7,396,183
$582,436
$ -
$113,611
$499,051
$690,581
(150,000)
(550,000)
$113,611
$349,051
$140,581
$1,426,596
$723,017
36
7,691,346
6,968,329
$36
$9,117,942
$7,691,346
48
,
CITY OF ROSEMEAD, CALIFORNIA
TRAFFIC SAFETY FUND
'
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
'
1
Over
(Under)
'
Budget Actual
Budget
1999
REVENUES:
t
Fines, forfeiture and penalties
$70,000 $275,382
$205,382
$306,680
Total Revenues
$70,000 $275,382
$205,382
$306,680
'
EXPENDITURES:
'
Public safety
$70,000 $275,382
$205,382
$306,680
Total Expenditures
$70,000 $275,382
$205,382
$306,680
'
Revenues over (under) expenlit
res $ - $ -
$ -
$ -
OTHER FINANCING SOURCES (USES):
Operating transfers:
'
From (To) other finds
$ - $ -
$ -
$ -
Revenue and other financing sources
'
over (under) expendihires
$ - $ -
$ -
$ -
FUND BALANCE, BEGINNING
'
FUND BALANCE, ENDING
$
$
49
1
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CITY OF ROSEMEAD, CALIFORNIA
'
STATE GAS TAX FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
' REVENUES:
Intergovernmental
' Charges for services
Use of money and property
Total Revenues
' EXPENDITURES:
Public Works
Community Services
Total Expenditures
Revenues over (under) expenditures
' OTHER FINANCING SOURCES (USES):
Operating transfers:
' From (To) other fiords
Revenue and other financing sources
' over (under) expenditures
FUND BALANCE, BEGINNING
' FUND BALANCE, ENDING
t
Budget Actual
Over
(Under)
Budget
1999
$987,500 $923,025
($64,475)
$1,095,479
8,500 -
(8,500)
8,000
15,000 19,155
4,155
37,417
$1,011,000 $942,180
($68,820)
$1,140,896
$1,473,700
$840,944
($632,756)
$1,498,641
$1,473,700
$840,944
($632,756)
$1,498,641
($462,700)
$101,236
$563,936
($357,745)
($462,700)
$101,236
$563,936
($357,745)
286,093 643,838
$387,329 $286,093
50
CITY OF ROSEMEAD, CALIFORNIA
AIR QUALITY MANAGEMENT DISTRICT FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
REVENUES:
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES:
Public works
Community Services
Total Expenditures
Revenues over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From (To) other hinds
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Over
(Under)
Budget Actual Budget
$60,000 $63,593 $3,593
2,500 28,033 25,533
$62,500 $91,626 $29,126
$150,000 ($150,000)
3,000 3,000 0
$153,000 $3,000 ($150,000)
($90,500) $88,626 ($179,126)
($90,500) $88,626 $179,126
170,630
$259,256
51
1999 '
$58,721 ,
6,535
$65,256 '
3,000 '
$3,000
$62,256
,
$62,256 ,
108,374
$170,630 '
1
t
CITY OF ROSEMEAD, CALIFORNIA
'
LOCAL TRANSPORTATION FUND
STATEMENT OF REVENUE, EXPENDITURES
'
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
' REVENUES:
Intergovernmental
' Use of money and property
Total Revenues
EXPENDITURES:
' Public works
Total Expenditures
' Revenues over (under) expenditures
' OTHER FINANCING SOURCES (USES):
Operating transfers:
From other fiords -
' Revenue and other Imancing sources
over (under) expenditures
' FUND BALANCE, BEGINNING
' FUND BALANCE, ENDING
Over
(Under)
Budget Actual Budget
$40,000 $43,158 $3,158
$40,000 $43,158 $3,158
$40,000 $40,613
$40,000 $40,613
$2,545
$2,545
$2,545
52
1999
$613
$25,968
$613
$25,968
$2,545
($25,968)
$ - $25,961
$2,545 ($7)
CITY OF ROSEMEAD, CALIFORNIA
PUBLIC TRANSPORTATION FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
REVENUES:
Intergovernmental
Use of money and property
Total Revenues
Budget
$1,170,000
47,000
Actual
$1,244,451
56,771
EXPENDITURES:
Current:
Public works
. Total Expenditures
Revenues over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other fimds
To other funds
Total Other Financing Sources (Uses)
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$854,350
$854,350
$362,650
104,350
(104,350)
$362,650
53
$622,385
$622,385
$678,837
$678,837
784,046
$1,462,883
Over
(Under)
'
Budget
1999
'
$74,451
$1,138,263
9,771
61,782
$84,222
$1,200,045
($231,965)
$1,477,335
,
($231,965)
$1,477,335
8
277
290
($316,1
7)
,
)
$316,187
($277,290)
061
336
1
'
,
,
$784,046
'
1
CITY OF ROSEMEAD, CALIFORNIA
'
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
'
Over
(Under)
Budget
Actual
Budget
1999
'
REVENUES:
Intergovermnental -
$3,784,686
$802,984
($2,981,702)
$2,220,613
'
Total Revenues
$3,784,686
$802,984
($2,981,702)
$2,220,613
EXPENDITURES:
Current:
Public works
$3,458,000
$604,375
($2,853,625)
1,346,739
$
'
Community services
323,175
295,553
(27,622)
_
894,313
3,500
79
(3,421)
Total Expenditures
$3,784,675
$900,007
($2,884,668)
$2,241,052
'
Revenues over (under) expenditures
($97,023)
($97,023)
($20,439)
t
OTHER FINANCING SOURCES (USES):
Operating transfers:
'
From other fiends
$ -
97,023
97,023
20,439
Revenue and other fmincing sources
over (under) expenditures
-
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
r
'
54
CITY OF ROSEMEAD, CALIFORNIA
1976 COhniUNITY PARKLANDS GRANT FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANCES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
REVENUES:
Intergovernmental
Use of money and property
Total Revenues
EXPENDITURES:
Public Recreation
Total Expenditures
Revenues over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From (To) other fiords
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Budget Actual
Over
(Under) '
Budget 1999
2,741
2,459
,
$2,741
$2,459
$2,741
$2,459
'
1
$ -
$2,741
$2,459
48,335
45,876
$51,076
$48,335
,
55
,
CITY OF ROSEMEAD, CALIFORNIA
'
STREET LIGHTING FUND
STATEMENT OF REVENUE, EXPENDITURES
'
AND CHANGES IN FUND BALANCE
2000
Fiscal Year Ended June 30
,
Over
(Under)
Budget
Actual
Budget
1999
'
REVENUES:
Special Assessment
$360,000
$428,609
$68,609
$367,277
'
Total Revenues
$360,000
$428,609
$68,609
$367,277
EXPENDITURES:
Public safety
$516,000
$241,922
($274,078)
$626,764
Total Expenditures
$516,000
$241,922
($274,078)
$626,764
Revenues over (under) expenditures
($156,000)
$186,687
$342,687
($259,487)
'
OTHER FINANCING SOURCES (USES):
'
Operating transfers:
From (To) other finds
$ -
$ -
$ -
$ -
'
Revenue and other financing sources
over (under) expenditures
($156,000)
$186,687
$342,687
($259,487)
FUND BALANCE, BEGINNING
194,874
454,361
FUND BALANCE, ENDING
$381,561
$194,874
56
CITY OF ROSEMEAD, CALIFORNIA
NARCOTICS SEIZURE FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
Over
(Under)
Budget Actual Budget
REVENUES:
Intergovernmental - Use of money and property - - -
Total Revenues
EXPENDITURES:
Public Safety
Total Expenditures
Revenues over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other finds
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$53,180
$51,898
($1,282)
$53,180
$51,898
($1,282)
($53,180)
($51,898)
$1,282
$53,180 $51,898 ($1,282)
57
1
1
i
1
1999 1
$37,120 1
457
$37,577 1
1
$42,873
$42,873 1
($5,296) 1
1
$5,296
1
1
i
1
1
1
'
CITY OF ROSEMEAD, CALIFORNIA
'
LOW-MODERATE INCOME HOUSING FUND
STATEMENT OF REVENUE, EXPENDITURES
'
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
1
Over
'
(Under)
Budget
Actual
Budget
1999
REVENUES:
Intergovernmental -
$0
$1,000,000
'
Use of money and property
210,000
265,106
55,106
452,416
Total Revenues
$210,000
$265,106
$55,106
$1,452,416
'
EXPENDITURES:
General government
'
Total Expenditures
Revenues over (under) expenditures
$210;000
$265,106
$55,106
$1,452,416
'
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other fiords
$236,519
$236,519
$238,885
To other fiords
(4,750,000)
4,750,000
(400,000)
Total Other Financing Sources (Uses)
($4,750,000)
$236,519
$4,986,519
($161,115)
'
over (under) expenditures
($4,540,000)
$501,625
$5,041,625
$1,291,301
FUND BALANCE, BEGINNING
5,857,163
4,565,862
'
FUND BALANCE, ENDING
$6,358,788
$5,857,163
1
58
CITY OF ROSEMEAD, CALIFORNIA
ROSENMAD HOUSING DEVELOPMENT CORPORATION
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
Over.
(Under)
Budget
Actual
Budget
1999
REVENUES:
Use of money and property
- $161,350
$160,200
($1,150)
$164,400
Other
5,000
4,190
(810)
Total Revenues
$166,350
$164,390
($1,960)
$164,400
EXPENDITURES:
General government
$5,112,040
$150,091
($4,961,949)
$152,870
Total Expenditures
$5,112,040
$150,091
($4,961,949)
$152,870
Revenues over (under) expenditures
($4,945,690)
$14,299
($4,959,989)
$11,530
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
$4,750,000
($4,750,000)
$400,000
To other funds
(150,000)
(150,000)
-
(150,000)
Total Other Financing Sources (Uses)
$4;600,000
($150,000)
($4,750,000)
$250,000
Revenue and other financing sources
over (under) expenditures
($345,690)
($135,701)
$209,989
$261,530
FUND BALANCE, BEGINNING
350,169
88,639
FUND BALANCE, ENDING
$214,468
.$350,169
59
'
CITY OF ROSEMEAD, CALIFORNIA
'
CALIFORNIA WILDLIFE FUND
STATEMENT OF REVENUE, EXPENDITURES
'
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
' REVENUES:
Intergovernmental
' Total Revenues
' EXPENDITURES:
Public Recreation
' Total Expenditures
' Revenues over (under) expenditures
OTHER FINANCING SOURCES (USES):
' Operating transfers:
From (To) other finds
' Revenue and other financing sources
over (under) expenditures
' FUND BALANCE, BEGINNING
' FUND BALANCE, ENDING
1
1
Budget
Over
(Under)
Actual Budget
a0o
60
1999
I.-
36
$36
CITY OF ROSEMEAD, CALIFORNIA
FEDERAL HIGHWAY GRANTS FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
REVENUES:
Intergovernmental
Use of money and property
Total Revenues
Budget
- $1,127,000
Actual
EXPENDITURES:
Public works
Total Expenditures
Revenues over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers: -
From (To) other fiords
Revenue anal other fmaacing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
1
1
Over
(Under)
'
Budget
1999
'
($1,127,000)
$1,021,000
'
($1,127,000)
$1,021,000
1
$164,500 $113,611 ($50,889) $1,021,000
$164,500 $113,611 ($50,889) $1,021,000
$962,500
($113,611) ($1,076,111)
'
1
(1,024,900)
$113,611 $1,138,511
($62,400)
$62,400
1
1
61
'
I
' CAPITAL PROJECTS FUND
(Redevelopment Fund)
I
' The Capital Projects Fund accounts for financial resources to be used for the acquisition or
construction of major capital facilities within the Redevelopment Agency.
1
1
1
lJ
1
I
1
1 62
CITY OF ROSEMEAD, CALIFORNIA
CAPITAL PROJECTS FUND
BALANCE SHEET
June 30, 2000
2000
Cash and investments
Receivables
Due from other funds
Total Assets
LIABILITIES AND MUNICIPAL EQUITY
Liabilities:
Accounts payable and accrued liabilities
Due to other funds
Total Liabilities
Municipal Equity and Other Credits:
Fund Balance:
Unreserved:
Designated for capital projects
Total Fund Balance
Total Liabilities, Municipal Equity and Other Credits
ASSETS
$14,219,238
447,465
1999
$15,836,240
373,832
5
$14,666,703 $16,210,077
$158,307 $252,708
204,373
$362,680 $252,708
$14,304,023 $15,957,369
$14,304,023 $15,957,369
$14,666,703 $16,210,077
63
'
CITY OF ROSEMEAD, CALIFORNIA
'
CAPITAL PROJECTS FUND
STATEMENT OF REVENUE, EXPENDITURES
'
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
' REVENUES:
Property taxes and special assessments
' Use of money and property
Other
Total Revenue
' EXPENDITURES:
Current:
General Government
' Public Works
Total Expenditures
' Revenue over (under) expenditures
' OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
' (To) other funds
Total Other Financing Sources (Uses)
' Revenues and Other Financing
' Sources over (under) expenditures
FUND BALANCE, BEGINNING
' FUND BALANCE, ENDING
64
2000 1999
$2,990,564 $2,870,290
733,370 765,201
29,991 182
$3,753,925 $3,635,673
$91,270
1,996,453
$50,577
2,674,347
$2,087,723
$2,724,924
$1,666,202
$910,749
$651
(3,319,548) (3,319,739)
($3,319,548) ($3,319,088)
($1,653,346) ($2,408,339)
15,957,369 18,365,708
$14,304,023 $15,957,369
CITY OF ROSEMEAD, CALIFORNIA
CAPITAL PROJECTS FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Fiscal Year Ended June 30, 2000
Over
(Under)
Budget
Actual
Budget
1999
REVENUE
Property taxes and special assessments
$2,800,000
$2,990,564
$190,564
$2,870,290
Use of money and property
330,000
733,370
403,370
765,201
Other
29,991
29,991
182
$3,130,000
$3,753,925
$623,925
$3,635,673
EXPENDITURES
Current
General government
$334,100
$91,270
($242,830)
$50,577
Public works
7,131,950
1,996,453
(5,135,497)
2,674,347
$7,466,050
$2,087,723
($5,378,327)
$2,724,924
Revenue over (under) expenditures
($4,336,050)
$1,666,202
$6,002,252
$910,749
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
585,279
($585,279)
$651
(To) other funds
(1,532,579)
(3,319,548)
(1,786,969)
(3,319,739)
Total Other Financing Sources (Uses)
($947,300)
($3,319,548)
($2,372,248)
($3,319,088)
Revenue and other financing sources
over (under) expenditures
($5,283,350)
($1,653,346)
$3,630,004
($2,408,339)
FUND BALANCE, BEGINNING
15,957,369
18,365,708
FUND BALANCE, ENDING
$14,304,023
$15,957,369
65
I
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1
1
1
DEBT SERVICE FUND
1 The Debt Service Fund account for the accumulation of resources for the payment of general long-
1 term debt principal, interest and related costs.
i
0
1
1
1
I
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1
1
1
1 66
CITY OF ROSEMEAD, CALIFORNIA
DEBT SERVICE FUND
BALANCESHEET
June 30, 2000
ASSETS
Restricted cash and investment
Receivables
Total Assets
LIABILITIES AND MUNICIPAL EQUITY
Liabilities:
Accounts payable and accrued liabilities
Total Liabilities
Municipal Equity and Other Credits:
Fund Balance:
Reserved:
Debt service
Total Fund Balance
Total Liabilities, Municipal Equity and Other Credits
2000
$2,324,304
11,191
$2,335,495
$2,335,495
$2,335,495
$2,335,495
1999
$2,322,185
11,191
$2,333,376
$2,333,376
$2,333,376
$2,333,376
67
r
CITY OF ROSEMEAD, CALIFORNIA
DEBT SERVICE FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 2000
2000
REVENUES:
Use of money and property
Total Revenue
EXPENDITURES:
Debt service:
Principal
Interest
Total Expenditures
Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
(To) other funds
Total Other Financing Sources (Uses)
Revenues and Other Financing
Sources over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
68
$138,648
1999
$117,386
$138,648 $117,386
$330,000
$310,000
1,942,258
1,960,187
$2,272,258
$2,270,187
($2,133,610)
($2,152,801)
$2,135,729 $2,132,903
$2,135,729 $2,132,903
$2,119
2,333,376
$2,335,495
($19,898)
2,353,274
$2,333,376
CITY OF ROSEMEAD, CALIFORNIA
DEBT SERVICE FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Fiscal Year Ended June 30, 2000
REVENUE
Interest
Other
Over
(Under)
Budget Actual Budget 1999
$135,000 $138,648 $3,648 $117,386
$135,000 $138,648 $3,648 $117,386
EXPENDITURES
Debt Service:
Principal
Interest
Certificate refunding
Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
(To) other funds
Total Other Financing Sources (Uses)
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$330,000
$330,000
$310,000
1,942,260
1,942,258
(2)
1,960,187
$2,272,260
$2,272,258
($2)
$2,270,187
($2,137,260)
($2,133,610)
$3,650
($2,152,801)
$2,272,260
$135,000
$2,135,729 ($136,531) $2,132,903
$2,135,729 ($136,531) $2,132,903
$2,119
($132,881) ($19,898)
2,333,376
2,353,274
$2,335,495
$2,333,376
69
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FIDUCIARY FUND TYPES
PENSION TRUST FUND
Established to account for the activity of the retirement plan for employees of the City.
AGENCY FUND
Established to account for the assets held in trustee capacity or as an agent. The cash
being held primarily represents amounts placed on deposit for refundable permits and
performance bonds.
70
CITY OF ROSEMEAD, CALIFORNIA
FIDUCIARY FUNDS
COMBINING BALANCE SHEET
June 30, 2000
Pension
Trust Refundable
Fund Deposits
Totals
2000 1999
ASSETS
Cash and cash investments
Receivables
Total Assets .
$177,124 $108,778
$285,902 $297,250
LIABILITIES AND MUNICIPAL EQUITY
Liabilities:
Due to other funds
Refundable deposits
Total Liabilities
Municipal Equity:
Fund balance, reserved for
employees' retirement
Total Liabilities and Municipal Equity
$0 108
108,778 108,778 106,218
$ - $108,778 $108,778 $106,326
$177,124 $ -
$177,124 $108,778
$177,124 $190,924
$285,902 $297,250
71
1
1
1
1
1
1
1
1
CITY OF ROSEMEAD, CALIFORNIA
AGENCY FUND
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES
Fiscal Year Ended June 30, 2000
Balance Balance
July 1, 1999 Additions Deductions June 30, 2000
Assets
Cash and cash investments $106,326 $32,299 $29,847 $108,778
Receivable
Total Assets $106,326 $32,299 $29,847 $108,778
Liabilities
Due to other funds $108 $108 $0
Refundable deposits 106,218 59,873 57,313 108,778
$106,326 $59,873 $57,421 $108,778
72
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73
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1
1
1
1
11
1
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1
1 ACCOUNT GROUPS
1 GENERAL FIXED ASSETS ACCOUNT GROUP
1 Established to account for all property and equipment except for public domain fixed assets
(e.g., streets, bridges, sidewalks, curbs, gutters and storm drainage systems).
1
GENERAL LONG-TERM DEBT ACCOUNT GROUP
1 Established to account for the outstanding principal balances of all long-term debt expected
to be financed from governmental fund types.
1
1
1
1
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1 G
1
1 74
CITY OF ROSEMEAD, CALIFORNIA
STATEMENT OF GENERAL FIXED ASSETS
June 30, 2000
GENERAL FIXED ASSETS
2000
$4,651,565
6,444,796
268,722
1,701,799
685,249
868,483
1999
$4,730,565
6,406,852
268,722
1,362,749
605,475
868,483
Land
Buildings and improvements
Vehicles
Furniture and office equipment
Special equipment and machinery
Other improvements
Total General Fixed Assets
SOURCES OF FUNDS
Prior Years Balance
General Fund
Community Development Block Grant
Community Parklands Grant
California Wildlife Grant "
Redevelopment Agency
Rosemead Housing Development.
Corporation
Ending Balance
$14,620,614 $14,242,846
Balance
Balance
July 1, 1999
Additions
Deletions
June 30, 2000
$4,425,295
$4,425,295
330,802
280,027
$800
610,029
54,767
-
54,767
1,353
-
1,353
84,010
-
84,010
5,876,752
177,541
$79,000
5,975,293
3,469,867
-
3,469,867
$14,242,846
$457,568
$79,800
$14,620,614
75
CITY OF ROSEMEAD, CALIFORNIA
STATEMENT OF CHANGES OF GENERAL FIXED ASSETS
Fiscal Year Ended June 30, 2000
'
Balance
Balance
Function and Activity
July 1, 1999
Additions
Deletions
June 30, 2000
Land
Prior year balance
$542,926
$542,926
Redevelopment agency
2,350,308
79000
2,271,308
_
Housing development corporation
1,837,331
-
-
1,837,331
Total land
$4,730,565
$4,651,565
'
Buildings and improvements
Prior year balance
$1,987,300
$1,987,300
General government
11,971
11,971
Community services
- 50,064
-
-
50,064
Public recreation
1,991
-
-
1,991
'
Redevelopment agency
2,722,990
37,944
2,760,934
Housing development corporation
1,632,536
-
-
1,632,536
Total buildings and improvements
$6,406,852
$37,944
$6,444,796
'
Vehicles
Prior year balance
$228,224
$228,224
'
General government
40,498
40,498
Total vehicles
$268,722
$268,722
'
Furniture and office equipment
Prior year balance
$427,588
$427,588
General government
65,875
142,248
800
207,323
'
Public safety
34,520
39,845
-
74,365
Community development
11,891
16,791
28,682
Cultural & leisure
19,421
1,368
-
20,789
'
Redevelopment agency
803,454
139,597
-
943,051
Total furniture and office
equipment
$1,362,749
$339,849
$800
$1,701,798
'
Special equipment and machinery
Prior year balance
$490,765
$490,765
General Government
-
947
-
947
Public safety
49,805
73,877
123,682
Transportation
-
646
-
646
'
Community development
Cultural & leisure
$2,054
62,851
-
4,305
-
2,054
67,156
Total special equipment and
machinery
$605,475
$79,775
$685,250
'
Other improvements
Prior year balance
$748,492
$748,492
'
General government
$4,927
4,927
Public safety
9,464
9,464
Cultural & leisure
105,600
105,600
'
Total other improvements
$868,483
$868,483
Total general fixed assets
$14,242,846
$457,568
$14,620,614
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77
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Notes: The City of Rosemead does not
have revenue bonds; therefore, the
Revenue Bond Coverage - Last
Ten Fiscal Years schedule is not
included.
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78
CITY OF ROSEMEAD, CALIFORNIA
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION (1)
ALL GOVERNMENTAL FUND TYPES
Last Ten Fiscal Years
Fiscal
Public
Public
General
Public
Year
Safety
Works
Government
Health
1990-91
$3,994,221
$6,374,969
$2,215,912
$1,014,349
1991-92
4,268,763
8,757,535
2,710,801
95,495
1992-93
4,264,366
3,598,687
2,429,325
1,677
1993-94
4,596,592
4,096,433
2,545,662
17,665
1994-95
4,666,871
4,400,953
1,918,204
39,852
1995-96
4,733,426
3,788,669
1,946,848
44,863
1996-97
4,922,197
3,349,572
2,053,607
45,966
1997-98
4,655,943
3,287,310
1,800,080
45,381
1998-99
5,259,501
8,524,188
1,948,412
43,844
1999-00
5,069,851
4,306,657
2,200,867
Public
Recreation
$1,838,493
1,959,686
1,858,238
1,719,424
1,901,397
1,869,684
2,144,066
1,906,179
2,030,237
2,242,859
(1) General Governmental expenditures includes expenditures of the General, Special Revenue,
Capital Projects, and Debt Service Funds only. Operating Transfers Out have been excluded
from all years.
79
i
1
1
Community
Services
$2,070,348
1,592,156
1,411,467
2,092,838
2,090,216
1,867,352
1,976,965
2,060,701
2,085,868
1,516,717
Millions
Sts
Ste
$15
$18
$5 / IN
a
Capital
Outlay
$160,397
144,180
36,384
1,897,838
1,713,742
119,184
47,683
56,182
419,087
202,060
Debt
Service
$2,602,350
2,588,617
2,569,813
6,026,877
2,279,153
2,271,154
2,271,333
2,279,054
2,270,187
2,272,258
Inter-
governmental
580,791
175,295
175,330
Other
213,721
(59,745)
2,210,624
180,000
Total
$20,271,039
22,1 17,233
16,964,469
23,108,879
21,396,342
16,821,180
16,811,389
16,090,830
22,581,324
17,811,269
1996-97 1997-98 1998-99 1999-2000
1995-96
Public Works ®Public Safety oDebt Services 0General Govt. MPublic Recr.
Comm. Serv. ImMisc.
80.
CITY OF ROSEMEAD, CALIFORNIA
GENERAL REVENUES BY SOURCE (1)
ALL GOVERNMENTAL FUND TYPES
Last Ten Fiscal Years
Fiscal
Property
Special
Other
Licenses
Inter-
Year
Tax
Assessments
Taxes
and Permits
governmental
1989-90
$3,204,232
$303,374
$4,176,257
$533,050
$3,725,299
1990-91
3,059,892
347,061
4,245,201
479,084
4,557,510.
1991-92
3,746,398
384,036
3,787,547
554,935
4,824,498
1992-93
3,379,446
395,646
3,866,690
579,124
5,174,436
1993-94
3,185,746
342,315
4,011,829
812,096
5,985,542
1994-95
3,411,909
386,814
3,907,616
699,234
6,733,543
1995-96
2,671,909
365,184
3,664,031
760,191
6,155,519
1996-97
2,845,775
382,609
3,952,511
760,037
7,532,960
1997-98
2,770,865
418,502
4,134,533
739,162
6,758,226
1998-99
2,870,290
367,277
3,999,539
964,567
10,120,540
1999-00 2,990,564 428,609 4,266,791 917,350 7,359,001
(1) Includes General, Special Revenues, Capital Projects, and Debt Service Funds.
81
1
1
Charges for
Services
$284,851
228,615
366,345
347,262
429,932
564,962
539,055
584,033
499,492
643,385
0
Sm
$15
$10
$5
Fines,
Forfeitures
and Penalties
$524,001
355,047
278,253
313,980
338,786
317,969
365,400
363,938
349,322
625,756
Use of
Money and
Property
$2,389,057
1,844,552
1,625,706
1,258,827
1,887,659
1,383,762
2,667,346
2,415,335
2,497,294
2,244,326
Other Total
$191,389
165,237
391,194
318,603
307,415
387,606
138,159
63,262
71,628
155,534
$15,331,510
15,282,199
15,958,912
15,634,014
17,301,320
17,793,415
17,326,794
18,900,460
18,239,024
21,991,214
1995-96 1996-97 1997-98 1998-99 1999-2000
olntergovt. ®Prop. Tax 00ther Taxes ®Use of M & P ®Misc. oLic. & Permits Wines, For. & Pen.
82
662,094 448,675 2,068,706 80,540 19,222,330
Millions
CITY OF ROSEMEAD, CALIFORNIA
OTHER TAX REVENUES BY SOURCE
ALL GOVERNMENTAL FUND TYPES
Fiscal
Year
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
Last Ten Fiscal Years
Maintenance
Real Estate
Trailer Coach
Sales and
District
Taxes
Tax
Use Tax
$1,157
$62,734
$4,206
$3,069,138
1,309
55,567
2,474
2,679,103
2,427
38,974
2,810
2,647,816
1,192
36,696
-
2,704,229
1,336
36,739
-
2,582,644
1,291
40,404
-
2,309,758
1,575
47,904
-
2,550,967
1,366
46,600
-
2,658,370
1,248
58,767
-
2,529,135
1,439
66,456
-
2,717,017
83
1
r
r
t
Transient
Franchise
Occupancy
Fees
Tax
Total
$556,710
$551,256
$4,245,201
525,327
523,767
3,787,547
547,920
626,743
3,866,690
550,555
719,157
4,011,829
568,020
718,877
3,907,616
577,004
735,574
3,664,031
574,497
777,568
3,952,511
605,586
822,611
4,134,533
600,899
809,490
3,999,539
625,880
855,999
4,266,791
84
CITY OF ROSEMEAD, CALIFORNIA
ASSESSED VALUATIONS OF TAXABLE PROPERTY
Last Ten Fiscal Years
State Assessed
Fiscal
Personal
Unitary and Operating (1)
Year
Land
Improvements
Property
Non-unitary Property
1990-91
$618,578,205
$722,428,113
$8,491,869
$117,327,265
1991-92
687,981,018
783,764,885
8,531,233
157,129,799
1992-93
753,698,398
832,424,224
11,587,587
160,638,918
1993-94
789,170,566
869,204,989
10,509,734
138,033,544
1994-95
820,044,812
884,095,866
11,198,234
140,532,446
1995-96
837,930,509
857,272,720
11,534,790
139,789,581
1996-97
839,391,647
858,050,748
10,568,291
137,886,292
1997-98
841,497,520
852,913,158
11,363,160
140,328,015
1998-99
852,261,064
856,431,323
10,742,661
141,741,081
1999-00
875,890,808
882,240,913
9,580,437
139,870,251
(1)
Effective with fiscal year 1988-89, Unitary and Operating Non-unitary assessed valuation
are listed separately.
Source: Los Angeles County Auditor-Controller, Tax Division
85
1
1
1
1 Locally Assessed
Personal
Land Improvements
Property
$13,855,289
$41,336,467
'
13,991,213
40,321,969
1
13,854,565
34,011,333
15,022,792
29,128,797
1
1
169
13,103,797
9
,
26,
14,186,602
25,615,938
14,583,278
25,615,938
1
13
161
523
25
688
653
,
,
,
,
13,954,969
26,590,993
14,389,698
30,053,289
1
Total
$1,522,017,208
1,691,720,117
1,806,215,025
1,851,070,422
1,895,166,324
1,886,330,140
1,886,096,194
1,984,952,029
1,901,722,091
1,952,025,396
Property
Exemptions
$28,314,973
29,940,297
31,116,915
21,456,065
24,386,741
28,458,429
33,592,337
28,607,474
28,559,132
33,003,778
NET PROPERTY VALUE
1
Millions
1
$2500
1
$2000
$1500
'
$1000
'
$500
1
$0
199"1
86
Net
Property
Value
$1,493,702,235
1,661,779,820
1,775,098,110
1,829,614,357
1,870,779,583
1,857,871,711
1,852,503,857
1,956,344,555
1,873,162,959
1,919,021,618
199102 ,99&93 1993-90 ,991&5 189586 1988-7 1997-8 199848 ,989.2000
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
LIGHTING AND MAINTENANCE DISTRICT
Last Ten Fiscal Years
Assessment
Fiscal Year
Levy
1990-91
$314,824
1991-92
350,800
1992-93
388,417
1993-94
347,298
1994-95
339,205
1995-96
350,258
1996-97
373,885
1997-98
377,243
1998-99
383,237
1999-00
396,460
Current
Assessment'
Collected
$355,366
385,345
398,073
343,507
388,150
366,475
384,184
419,868
368,525
430,048
87
Percentage
Collected
Currently
112.88 %
109.85
102.49
98.91
114.43
104.63
102.75
111.30
96.16
108.47
CITY OF ROSEMEAD, CALIFORNIA
N
F LE
AL DEBT M
RGIN
COMPUTATIO
A
O
G
June 30, 2000
Total assessed valuation
$ 1,919,021,618
Debt limit: 3.75% of total assessed valuation
$ 71,963,311
1
Amount of debt, applicable to debt limit:
Total bonded debt $34,970,000
Less tax allocation notes exempt by law 34,970,000
'
Total amount of debt application
to debt limit
$ -
243
611
70
Legal debt margin
,
,
$
'
88
CITY OF ROSEMEAD, CALIFORNIA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURE
FOR TOTAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES
Last Ten Fiscal Years
Debt Service
Total (1)
To Total
Fiscal
Total Debt
General
General
Year
Principal
Interest
Service
Expenditures
Expenditures
1990-91
$1,630,000
$972,350
$2,602,350
$20,271,039
12.84
1991-92
1,760,000
828,617
2,588,617
22,117,233
11.70
1992-93
1,900,000
669,813
2,569,813
16,964,469
15.15
1993-94
2,055,000
1,137,474
3,192,474
23,108,879
13.81
1994-95
260,000
2,019,153
2,279,153
21,550,318
10.58
1995-96
265,000
2,006,154
2,271,154
16,821,180
13.50
1996-97
280,000
1,991,333
2,271,333
16,811,389
13.51
1997-98
295,000
1,984,054
2,279,054
16,090,830
14.16
1998-99
310,000
11960,187
2,270,187
22,581,324
10.05
1999-00
330,000
1,942,258
2,272,258
17,811,269
12.76
(1) Includes all Governmental Fund Types. Premium for defeasement of bonds not included.
89
1
1
1
1
1
$m
0
815
810
85
1990-91
$25
$20
$15
$10
$5
$0
1995-96
TOTAL BONDED DEBT TO
TOTAL GENERAL EXPENDITURES
Millions
90
1991-92 1992-93 1993-94 1994-95
Millions
1996-97 1997-98 1998-99 1999-2000
CITY OF ROSEMEAD, CALIFORNIA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURE
FOR TOTAL BONDED DEBT TO TOTAL ASSESSED VALUATION
Last Ten Fiscal Years
Total
Fiscal
Total Debt
Assessed
Year
Principal
Interest
Service
Valuation
1990-91
$1,630,000
$972,350
$2,602,350
$1,493,702,235
1991-92
1,760,000
828,617
2,588,617
1,661,779,820
1992-93
1,900,000
669,813
2,569,813
1,775,098,110
1993-94
2,055,000
1,137,474
3,192,474
1,829,614,357
1994-95
260,000
2,019,153
2,279,153
1,870,779,583
1995-96
265,000
2,006,154
2,271,154
1,857,871,711
1996-97
280,000
1,991,333
2,271,333
1,852,503,857
1997-98
295,000
1,984,054
2,279,054
1,956,344,555
1998-99
310,000
1,960,187
2,270,187
1,873,162,959
1999-00
330,000
1,942,258
2,272,258
1,919,021,618
91
Debt Service '
To Total ,
Assessed
Valuation
0.17 %
0.16 '
.0.15 '
0.17
0.12 ,
0.12 '
'
0.12
0.12
0.12 '
0.12
1
1
t
CITY OF ROSEMEAD, CALIFORNIA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURE
FOR TOTAL BONDED DEBT PER CAPITA
Last Ten Fiscal Years
Fiscal Total.Debt
Year Principal Interest Service
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
Debt Service
To Total
Population
Population
52,247
$49.81
52,812
49.02
52,922
48.56
53,798
59.34
53,639
42.49
54,487
41.68
55,128
41.20
55,760
40.87
56,664
40.06
92
$1,630,000
1,760,000
1,900,000
2,055,000
260,000
265,000
280,000
295,000
310,000
330,000
$972,350
828,617
669,813
1,137,474
2,019,153
2,006,154
1,991,333
1,984,054
1,960,187
1,942,258
$2,602,350
2,588,617
2,569,813
3,192,474
2,279,153
2,271,154
2,271,333
2,279,054
2,270,187
2,272,258
57,328 39.64
CITY OF ROSEMEAD, CALIFORNIA
PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS
(Per $100 of Assessed Valuation)
Last Ten Fiscal Years
Los
Los Angeles County
Fiscal
City of
Angeles
School
Water
Flood
Sanitation
Year
Rosemead
County
Districts
Districts
Control
District
Total
1990-91
0
1.002104
0.072543
0.061533
0.005786
0
1
.141966
1991-92
0
1.001409
0.078219
0.044300
0.003397
0
1
.127325
1992-93
0
1.001713
0.144909
0.014100
0.004212
0
1
.164934
1993-94
0
1.001713
0.073026
0.044100
0.004212
0
1
.123051
1994-95
0
1.001993
0.080512
0.038900
0.006041
0
1
.127446
1995-96
0
1.001604
0
0.038900
0.001991
0
1
.042495
1996-97
0
1.001604
0
0.038900
0.001991
0
1
.042495
1997-98
0
1.001604
0
0.038900
0.001991
0
1
.042495
1998-99
0
1.001604
0
0.038900
0.001991
0
1
.042495
1999-2000
0
1.001604
0
0.038900
0.001991
0
1
.042495
Source:
Tax Rates By
Tax Rate Are
as Los Angeles County Tax Collector
93
' CITY OF ROSEMEAD, CALIFORNIA
' SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT
'
June 30, 2000
1999-00 Assessed Valuation: $1,548,958,607 (after deducting $230,192,760
'
redevelopment incremental valuation)
Direct and Overlapping Tax and Assessment Debt:
% Applicable
Debt 6/30/00
Los Angeles County
0.316
%
$151,253
Los Angeles County Flood Control District
0.326
101,582
Metropolitan Water District
0.170
934,346
San Gabriel Valley Municipal Water District
0.016
368
Montebello Unified School District
1.881
839,632
El Monte School District
0.004
560
Los Angeles County Regional Park and Open Space District
0.316
1,461,563
City of Rosemead 100.000
Total Direct and Overlapping Tax and Assessment Debt:
$3,489,304
Overlapping General Fund Obligation Debt:
Los Angeles County General Fund Obligations
0.316
%
$5,336,014
Los Angeles County Pension Obligations
0.316
6,516,623
'
Los Angeles County Superintendent of Schools Certificates of Participation
0.316
108,435
Los Angeles County Flood Control District Certificates of Participation
0.326
579,987
Los Angeles County Sanitation District #2 Authority
0.005
1,892
'
Los Angeles County Sanitation District # 15 Authority
6.895
1,989,295
Los Angeles Community College District Certificates of Participation
0.274
186,361
Pasadena Area Community College Certificates of Participation
2.852
198,357
'
Montebello Unified School District Certificates of Participation
1.881
348,267
San Gabriel Unified School District Certificates of Participation
0.100
83,812
El Monte Union High School District Certificates of Participation
14.063
824,092
'
El Monte School District and Certificates of Participation
0.004
40
Garvey School District Certificattes of Participation
44.879
1,297,003
'
Rosemead School District Certificates of Participation
65.052
2,865,541
San Gabriel Valley Mosquito Abatement District Certificates of Participation
3.163
45,073
Total Gross Direct and Overlapping General Fund Debt:
$20,380,792
Less: Los Angeles County Certificates of Participation (100%, self-supporting
from leasehold revenues on properties in Marina Del Rey)
410,816
Total Net Direct and Overlapping Bonded Debt:
$19,969,976
'
Gross Combined Total Debt
$23,870,996 (1)
Net Combined Total Debt
$23,459,280
'
(1) Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax
allocation bonds and non-bonded capital lease obligations.
Ratios to Assessed Valuations: Direct Debt
0.00
%
'
Total Overlapping Tax & Assessment
0.20
% .
Gross Combined Total Debt
1.54
%
Net Combined Total Debt
1.51
%
State School Building Aid Repayable as of 6/30/00: $ 0
Source: California Municipal Statistics, Inc. 94
CITY OF ROSEMEAD, CALIFORNIA
DEMOGRAPHIC STATISTICS
Last Ten Fiscal Years
Income
Fiscal Year
Population
Households
Per Capita
11)
(2)
(3)
1990-91
52,247
14,153
$20,786
1991-92
52,812
14,169
20,967
1992-93
52,922
14,193
21,434
1993-94
53,798
14,190
21,661
1994-95
53,639
14,195
21,562
1995-96
54,487
14,238
23,501 .
1996-97
55,128
14,254
24,945
1997-98
55,760
14,278
25,719
1998-99
56,664
14,313
26,773
1999-00
57,328
14,345
Source:
Unemploy-
ment Rate
(3)
5.8
8.0
9.6
9.7
7.4
7.9
6.9
6.5
5.6
5.4
(1 ) California State Department of Finance, Office of Demographic Research
(2) City of Rosemead, Planning Department
* (3) California State Department of Finance, Finance and Economic Research Unit
Information presented is for the County of Los Angeles, which includes the City of Rosemead.
Income Per Capita and Unemployment Rate specifically for the City of Rosemead is not available.
Data not available at this time.
95
i
60
50
40
30
20
10
0
60
50
40
30
20
10
0
DEMOGRAPHIC STATISTICS
Thousands
Thousands
96
1990-91 1991-92 1992-93 1993-94 1994-95
C3 Households oincome PerCapita im Populationn 1
1995-96 1996-97 1997-98 1998-99
oHouseholds olncome Per Capita oPopulation
CITY OF ROSEMEAD
PRINCIPAL TAXPAYERS
June 30, 2000
Percentage
of Total City's
Assessed
Assessed
Valuation
Valuation
Southern California Edison Company
$204,319,473
10.91 %
Countrywide
8,892,988
0.47
Chicago Title Insurance & Trust
8,330,000
0.44
Diamond Square
7,110,566
0.38
Vikon Center
3,800,000
0.20
Lucky Plaza
2,700,000
0.14
Quanjude Center
2,602,232
0.14
Irish Communications/Construction
2,609,754
0.14
ABC Plaza
1,759,000
0.09
Nice Day Inn
1,695,484
0.09
$243,819,497
13.00 %
Note: Principal property taxpayers and assessed valuations presented here reflect the
Rosemead Redevelopment Agency Project Area only as the City of Rosemead
is a non-property tax city.
97
' Southern California Joint Powers
' Insurance Authority
State Compensation Insurance Fund
Kelley, Jiggins, Towle & Blue
' Kelley, Jiggins, Towle & Blue
Kelley, Jiggins, Towle & Blue
Kelley, Jiggins, Towle & Blue
' Source: City Finance Department
CITY OF ROSEM EAD, CALIFORNIA
SCHEDULE OF INSURANCE IN FORCE
June 30, 2000
Policy Expiration
Number Date
7/1/2001
-228962-90
05743382
9922993-03
2781100
CP8119571C
98
Type of Coverage
General Liability
12/31/2001 Workers Compensation
Coverage
7/1/2001 Public Employees
Blanket Bond
10/19/2001 Boiler and Machinery
7/1/2001 Notary Public Bond
Error & Omissions
7/1/2001 Property Insurance
CITY OF ROSEMEAD, CALIFORNIA
CONSTRUCTION ACTIVITY
Last Ten Fiscal Years
Number of
Building Permit
Number of
Fiscal
Residential
Valuations (In Thousands)
Building
Year
Dwelling Units
Residential
Nonresidential
Total
Permits Issued
1990-91
52
$13,764,492
$9,308,610
$23,073,102
726
1991-92
62
$16,145,335
$15,522,368
$31,667,703
827
1992-93
13
8,012,092
10,499,324
18,511,416
877
1993-94
22
10,047,264
7,651,470
17,698,734
858
1994-95
37
10,880,831
3,552,722
14,433,553
608
1995-96
42
12,267,012
2,094,550
14,361,562
652
1996-97
24
9,787,980
4,325,690
14,113,670
611
1997-98
35
7,270,943
14,133,409
21,404,352
522
1998-99
28
8,973,771
11,726,986
20,700,757
595
1999-00
42
23,062,147
5,247,903
28,310,050
478
99
' CITY OF ROSEMEAD, CALIFORNIA
' MISCELLANEOUS STATISTICS
' June 30, 2000
The City of Rosemead is located in Los Angeles County, California approximately nine miles east of the City of Los
' Angeles. Incorporated in 1959, the City of Rosemead now encompasses a total land mass of 5.5 square miles and.
operates as a general law city under a Council - City Manager form of government. The Rosemead Redevelopment
Agency, activated on January 4, 1972, includes 511 acres within he City's 5.5 square miles.
Population 57,328
Land Area 5.5 square miles
Streets & Alleys 74.42 miles
Parks 50 acres
Percentage of Land Use:
'
Residential
64 %
Public Facilities
14
Commercial (stores & shops)
9
'
Mixed Commercial/Residential
7
Office & Light Industrial
6
'
Public Facilities:
00 %
1
Community Centers
2
Swimming Pools
2
f
Libraries
2
Gymnasiums
1
'
Ball Diamonds (lighted)
4
Tennis Courts (lighted)
5
'
Education Facilities:
Elementary Schools
10
Secondary Schools
3
'
High Schools
2
Fire Protection: *
Number of firefighters and officers
37
'
Police Protection:
Parking Control (personnel)
3
'
Police Protection (sworn personnel)
38
Major Employers and Number of Employees:
Southern California Edison Company
4,500
'
Countrywide Mortgage
800
Hermetic Seal Corporatiom
450
' * The City of Rosemead is part of the Los Angeles County Fire Protection District which provides fire fighting, fire
prevention, and plan check services for the City.
The City of Rosemead contracts with the Los Angeles Comity Sheriffs Department for all police services with the
exception of parking control which is provided by City personnel.
' 100
City of Rosemead
California
[D ~ AeM.
Writ' oedcn
Anaheim
Riverside
The CITY OF ROSEMEAD is located in Los Angeles County,
Approximately nine miles east of downtown Los Angeles.
Incorporated in 1959, the CITY OF ROSEMEAD now encompasses
a total land mass of 5.5 square miles with an approximate
population of 57,328
101
San Bernardino
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