1995 CAFRI
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California
COMPREHENSIVE ANNUAL FINANCIAL REPORT
1 FISCAL YEAR ENDED JUNE 305 1995
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
' Fiscal Year Ended June 30, 1995
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I TABLE OF CONTENTS
I INTRODUCTORY SECTION
Letter of Transmittal
List of Principal Officials
Organizational Chart
Certificate of Award for Outstanding Financial Reporting
Certificate of Achievement for Excellence in Financial Reporting
FINANCIAL SECTION
Independent Auditors' Report
General Purpose Financial Statements:
1 Combined Balance Sheet - All Fund Typed and Account Groups
Combined Statement of Revenue, Expenditures and Changes in
Fund Balances - All Governmental Fund Types
Combined Statement of Revenue, Expenditures and Changes in
Fund Balances - Budget and Actual - General, Special
Revenue and Debt Service Fund Types
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Statement of Revenue, Expenses and Changes in Fund Balance -
Pension Trust Fund
Statement of Cash Flows - Pension Trust Fund
Notes to Financial Statements
Combining and Individual Funds and Account Groups Financial
Statements (Supplementary Information):
GENERAL FUND:
Balance Sheet
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CITY OF ROSEMEAD, CALIFORNIA
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COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1995
TABLE OF CONTENTS (cont.)
FINANCIAL SECTION (cont.) Saga
Combining and Individual Funds and Account Groups
(Supplementary Information): (cont.)
GENERAL FUND: (cont.)
Statement of Revenue, Expenditures and Changes in Fund
Balance 29
Revenue Detail - Budget and Actual 30
Expenditure Detail - Budget and Actual 31
SPECIAL REVENUE FUNDS:
Combining Balance Sheet - All Special Revenue Funds 36
Combining Statement of Revenue, Expenditures and Changes
in Fund Balances - All Special Revenue Funds 40
Statement of Revenue, Expenditures and Changes in
Fund Balance - Traffic Safety Fund 43
Statement of Revenue, Expenditures and Changes in
Fund Balance - State Gas Tax Fund 44
Statement of Revenue, Expenditures and Changes in
Fund Balance - Air Quality Management District 45
Statement of Revenue, Expenditures and Changes in
Fund Balance - Local Transportation Fund 46
Statement of Revenue, Expenditures and Changes in
. Fund Balance - Public Transportation Fund 47
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1995
TABLE OF CONTENTS (cont.)
FINANCIAL SECTION (cont.) Page
Combining and Individual Funds and Account Groups
(Supplementary Information): (cont.)
SPECIAL REVENUE FUNDS: (cont.)
Statement of Revenue, Expenditures and Changes in
Fund Balance - Community Development Block Grant Fund 48
Statement of Revenue, Expenditures and Changes in
Fund Balance - 1976 Community Parklands Grant Fund 49
Statement of Revenue, Expenditures and Changes in
Fund Balance - Street Lighting Fund 50
Statement of Revenue, Expenditures and Changes in
Fund Balance - Narcotics Seizure Fund 51
Statement of Revenue, Expenditures and Changes in
Fund Balance - Low-Moderate Income Housing Fund 52
Statement of Revenue, Expenditures and Changes in
Fund Balance - Rosemead Housing Development Corporation 53
Statement of Revenue, Expenditures and Changes in
Fund Balance - Federal Highways Grants 54
Statement of Revenue, Expenditures and Changes in
Fund Balance - R. Z'Berg/Harris Grant Fund 55
Statement of Revenue, Expenditures and Changes in
Fund Balance - California Wildlife Fund 56
CITY OF ROSEMEAD, CALIFORNIA
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COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1995
TABLE OF CONTENTS (cont.)
FINANCIAL SECTION (cont.) EagH
Combining and Individual Funds and Account Groups
(Supplementary Information): (cont.)
CAPITAL PROJECTS FUND:
Balance Sheet - Capital Projects Fund 58
Statement of Revenue, Expenditures and Changes in
Fund Balance 59
Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual 60
DEBT SERVICE FUND:
Balance Sheet - Debt Service Fund 62
Statement of Revenue, Expenditures and Changes in
Fund Balance 63
Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual 64
FIDUCIARY FUND TYPES:
Combining Balance Sheet 66
Combining Statement of Changes in Assets and
Liabilities - All Agency Funds 67
ACCOUNT GROUPS:
Statement of General Fixed Assets 70
Statement of Changes of General Fixed Assets 71
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CITY OF ROSENIEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1995
TABLE OF CONTENTS (cont.)
STATISTICAL SECTION
General Governmental Expenditures by Function - All Governmental
Fund Types 74
General Revenues by Source - All Governmental Fund Types 76
Other Tax Revenues by Source - All Governmental Fund Types 78
Assessed Valuations of Taxable Property 80
Special Assessment Levies and Collections - Lighting and
Maintenance District 82
Computation of Legal Debt Margin 83
Ratio of Annual Debt Service Expenditure for Total Bonded
Debt to Total General Expenditures 84
Ratio of Annual Debt Service Expenditure for Total Bonded
Debt to Assessed Valuation 86
Ratio of Annual Debt Service Expenditure for Total Bonded
Debt Per Capita 87
Property Tax Rates - All Overlapping Governments 88
Schedule of Direct and Overlapping Bonded Debt 89
Demographic Statistics 90
Principal Taxpayers 92
Schedule of Insurance in Force 93
Construction Activity 94
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1995
TABLE OF CONTENTS (cont.)
STATISTICAL SECTION (cont.)
Miscellaneous Statistics
Vicinity Map
Paga
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MAYOR:
JOE VASQUEZ
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MAYOR PRO TEM:
MARGARETCLARK
COUNCILMEMSERS:
ROBERT W. BRUESCH
JAY T. IMPERIAL
GARY A. TAYLOR
I December 1, 1995
' The Honorable Mayor
and Members of the
' Rosemead City Council
Posemead
8838 E. VALLEY BOULEVARD • P.O. BOX 399
ROSEMEAD, CALIFORNIA 91770
TELEPHONE (818) 288-6671
TELECOPIER 8183079218
Councilmembers:
Submitted for your information and consideration is the Annual Financial Report for
' the fiscal year ended June 30, 1995. 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.
The City of Rosemead has a population of 53,639 living in an area encompassing 5.5
square miles. The City is located in the central Northwestern section of Los Angeles
County, approximately nine miles east of downtown Los Angeles. The City shares
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
providing convenient access to all areas of Southern California. In addition, major rail
and public bus lines provide convenient regional transportation options.
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
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 1994-95
Administration: The City has continued to consolidate costs and reconsider the
structure various programs in an effort to reduce expenditures without a reduction in
the quantity and types of services provided. During the past year, for example, was
the City's first year participating in the federal CDBG program as an entitlement City
administered by the Department of Housing and Urban Development (HUD) rather
than under the County. The City's action resulted in an increase of more than thirty
percent (30%) in revenues and expand local control over the program. The change
also increased the administrative allocation and expand eligible activities related to
Planning and Housing reporting requirements. The effect was a higher level of
services to the community with little or no impact on the General Fund.
Engineering: The City completed several capital improvement projects during the
fiscal year. The Grand Avenue Bridge, which sustained major structural damages
from a fire in 1991, was reconstructed in Fiscal Year 1994-95. The majority of the
funds were from the Federal Highways Repair and Rehabilitation Grant and the
remainder costs funded by the State Gas Tax revenues.
Completion of the storm drain mainlines on Bartlett, Burton and Muscatel Avenue
extended the existing storm drain at Garvey Avenue to approximately 1,400 feet
north along each street. Sidewalk improvements were completed on the west side
of Delta Avenue between Garvey and Fern Avenue.
The conceptual studies for the Del Mar Avenue, San Gabriel Boulevard and Walnut
Grove Avenue Beautification projects were approved in Fiscal Year 1994-95. The
proposed projects will include undergrounding of overhead utilities,
streetscape/landscape improvements to the parkway and new raised medians, and
resurfacing of the streets where needed. The projects will be completed over the
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' next few years.
Planning: Consistent with the prior year, majority of the developments were
4, Residential. There were several two (2) and three (3) lot subdivisions and an eleven
(11) unit development on Hellman Avenue is currently in the plan check phase.
' Several commercial developments are currently under construction, which includes
new office buildings and warehouse structures. A majority of the commercial
developments have been limited to interior improvements to existing structures.
Parks and Recreation: The City completed various park and recreation improvements
' during the fiscal year. The Zapopan Center improvements included new tables and
chairs, cabinets, wallpaper, additional lobby seating, and replacing carpet in the
office.
' The Zapopan Park improvements included regrading, a new irrigation system, new
play equipment, and replacement of fencing around various structures.
The improvements at Rosemead Community Center improvements included
replacement of an existing roof, acquisition of wall mirrors, and tables and chairs.
The Rosemead Park improvements included revamping of play areas and resurfaced
' existing basketball courts. Rosemead Pool boilers were replaced.
' PROSPECTS FOR THE FUTURE
' The City continues in its ongoing efforts to reduce costs and its dependence on
General Fund revenues for many services. While those efforts have been largely
successful to date, some troubling trends remain as issues to be addressed in the
' coming fiscal year. Large sales tax producers, such as Toys R Us and Montgomery
Ward have experienced "down" years, and the regional economic outlook, while
improving, remains mixed. In addition, the California Supreme Court, in an apparent
' reversal of a 1991 decision, ruled in Santa Clara County Local Transportation
Authority v. Guardino, that voter approval is required for any general or special tax
enacted by local governments. The impact of the ruling on the City of Rosemead is
' minor. However, it may affect the City's imposition of a 2% increase of the Transient
Occupancy Tax (TOT) enacted in 1992. The Court will revisit the decision and issue
further clarification of the ruling on December 28, 1995.
' Another situation that could impact the City's fiscal condition during Fiscal Year
1995-96 is the resolution of an ongoing dispute with the Los Angeles County
Community Development Commission (CDC) regarding the use of Community
Development Block Grant (CDBG) funds in Fiscal Years 1992-93 and 1993-94. The
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CDC contends that the City did not utilize proper procurement procedures for the
funding of certain programs during that period of time. As a result, in excess of
$320,000 in allowable costs under the CDBG program have been disallowed and may
E require General Fund reimbursement. Those figures are still being negotiated. If the
costs are ultimately found to be ineligible, the General Fund reimbursement would be
' placed in the City's CDBG reserve account for future use on eligible projects.
Despite those trends, the City continues to be optimistic about the State of
California's economic condition. Last week, the State Treasurer announced that
California would realize a surplus of $686 million this fiscal year. It is good news for
several reasons. First, it indicates that the State's draconian budget reductions over
the past five years have finally resulted in a balanced budget. Second, it means
(hopefully) that the State will not be raiding local government revenue sources again
this Summer when the Legislature considers next year's budget. And, last, the
Treasurer's announcement seems to indicate that California's economy is recovering
after a long period of downturn.
Specific projects include the use of Air Quality Management District funds to finance
the traffic signals at the intersection of Rosemead Boulevard and Marshall Street and
at Marshall Street and Walnut Grove Avenue for modifications to include a protected
left turn phasing for all directions.
The Abilene Street project will commence in Fiscal Year 1995-96. The project entails
widening the street, new sidewalks, street trees and installation of street lights.
CDBG funds will be used to fund the Abilene Street project.
Various streets throughout the City will be repaired and resurfaced as identified by
the City's Pavement Management System, which reflects the City's continuing efforts
to maintain the City's streets.
Several residential developments which were placed on hold a few years ago are now
in the planning stages and will be reviewed in the near future. Those developments
range from small mini-malls to Southern California Edison rights-of-way.
Rosemead Community Recreation Center improvements include replacement of
existing air conditioning and heating units and replacement carpet in the office.
Rosemead Pool improvements includes replastering and repainting the pool.
Klingerman Park improvements includes acquisition and installation of new play
equipment. Garvey Park Improvements includes rebuilding the play areas, replacing
existing air conditioning and heating units, and regrading two (2) ball diamonds.
Resurfacing existing basketball court and addition of a new court is scheduled at
Zapopan Park.
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REPORTING ENTITY AND ITS SERVICES
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E The reporting entity is comprised of all funds and account groups of the City of
' Rosemead, Rosemead Redevelopment Agency, and Rosemead Housing Development
` Corporation.
The Rosemead Redevelopment Agency finances streets, parks, and utility
improvements within the Redevelopment project area as well as in some selected
' areas outside the project area which benefit the project area. The Rosemead Housing
Development Corporation provides for conservation and financing of Low and
Moderate Income Housing within the City limits. The City of Rosemead provides a
' broad range of services to its citizens including general government, public safety,
street construction and maintenance, sanitation, building safety, parks and
' recreational facilities, and cultural services.
Some of the functions typically provided by municipal government are, in the City of
Rosemead, provided by special districts. These districts, which usually encompass
an area larger than the City itself, include the Consolidated Fire Protection District of
Los Angeles County, the Los Angeles County Library District, the Los Angeles County
' Sanitation District. Other Governmental functions paid for by the City but performed
by County departments under contract with the City are police protection, street
maintenance, and animal control.
REPORTING STANDARDS
' The financial reports have been prepared in conformance with the generally accepted
accounting principles as set forth by the Governmental Accounting Standards Board
(GASB), applicable pronouncements of the American Institute of Certified Public
Accountants, and the full financial disclosure guidelines of the Governmental Finance
' Officers Association of the United States and Canada. The implementation of
Governmental Accounting Standards Board Statement No. 14 of the National Council
on Governmental Accounting defining the governmental reporting entity as including
the City and its related entities over which the City Council has continuing oversight
responsibility, has resulted in the preparation of this financial report's format of
consolidating the financial data of the City, Redevelopment Agency, and the
' Rosemead Housing Development Corporation.
' FINANCIAL STATEMENT
' The City requires that its financial statements be audited by a Certified Public
Accountant selected by the City Council. This requirement has been satisfied, and
the Auditor's opinion is included in the financial section of this report.
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In addition, the City is required to undergo an annual single audit in conformity with
the provisions of the Single Audit Act of 1984 and U.S. Office of Management and
Budget Circular A-128, "Audits of State and Local Governments." This requirement
t has also been satisfied and there were no material exceptions noted in the report.
The Comprehensive Annual Report is divided into the following three sections:
1. Introductory Section - which includes this transmittal letter, the City's
Organization Chart, and a list of the principal officials.
2. Financial Section - which includes the auditor's opinion, general purpose
financial statements, and the combining and individual fund and account group
financial statements.
3. Statistical Section - which includes relevant financial and non-financial data
presenting historical trends and other information about the City.
NOTES TO THE FINANCIAL STATEMENTS
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The Notes to the Financial Statements, which are part of the General Purpose
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
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
City's significant accounting policies.
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 1994-95 Fiscal Year revenues for the Governmental Fund types totaled
$17,639,439. Presented on the adjacent 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 change in revenues is the increase shown in Intergovernmental
revenues, which is the result of an increase of CDBG funds. The most notable
decrease in revenues is the Use of Money and Property. The decrease in revenues
is primarily due to investments in Guaranteed Investment Contracts, whereby annuity
payments commence in January 1996.
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' The Redevelopment Agency transferred approximately one hundred seventy-five
thousand three hundred thirty dollars ($175,330) in Property Tax Increment revenues
in Fiscal Year 1994-95 to the Educational Revenue Augmentation Fund (ERAF). Fiscal
' Year 1994-95 represents the last fiscal year the Redevelopment Agency had to shift
tax increment revenues to the ERAF fund.
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The 1994-95 fiscal year expenditures for the Governmental Fund types totaled
$21,396,342. Listed on the adjacent page 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 1994-95 over 1993-94 is due to
investment losses incurred. The most notable expenditure decrease is Debt Service,
which primarily is due to the Redevelopment Agency's action last year to defease the
1987 and 1991 Tax Allocation Bonds.
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The City of Rosemead remains in a strong financial position as of June 30, 1995 with
a surplus of approximately seven million four hundred thousand dollars ($7.4 million).
There was a prior period adjustment of approximately four hundred thousand, which
was due to the adoption of the Governmental Accounting Standards Board Statement
No. 22, "Accounting for Taxpayer-Assessed Tax Revenues in Governmental Funds".
Statement No. 22 requires the City to recognize taxpayer-assessed taxes when it is
both measurable and available.
GENERAL FIXED ASSETS
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As of June 30, 1995, the general fixed assets of the City totaled twelve million eight
hundred thirty-one thousand and nine hundred forty-six dollars ($12,831,946). This
amount represents the original cost of the assets, net of additions and deductions
from July 1, 1994 to June 30, 1995, 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, the Pension Trust Fund, and agency
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GENERAL FUND
funds. Revenue is recognized in that accounting period in which it becomes both
available and measurable. Available means collectible within the current period or
a~ soon enough thereafter to pay current liabilities.
i 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.
' 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
1 the same department. Any new appropriations must be authorized by City Council.
All unexpended budgeted funds unexpended 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
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"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
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
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.
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 refunded the Low-Moderate Housing Income Set-Aside Fund to satisfy the
set-aside requirement for fiscal years 1996-97 through 2021-23, 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 36% of the calculated
appropriation limit at June 30, 1995. The
City's 1995-96 estimated revenues and
budgeted expenditures indicate that by June
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of the limit.
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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,
1994. 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 has been awarded this
' Certificate for the last six 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
(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
year ended June 30, 1994. 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
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.
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We would like to thank the members of the City Council for their continued support,
i leadership and concern for the financial stability of the community.
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R Respectfully submitted,
Frank G. ripepi
City Manager
Karen L. Ogawa
Finance Director
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I APPOINTED OFFICIALS:
CITY OF ROSEMEAD, CALIFORNIA
CITY OFFICIALS
June 30, 1995
Joe Vasquez .............................Mayor
Margaret F. Clark Mayor Pro Tern
Robert W. Bruesch Councilman
Jay T. Imperial Councilman
Gary A. Taylor Councilman
I Planning Commissioners:
Rudolfo Ruiz Chairman
Merced 'Bill' Ortiz Vice Chairman
Robert Breen Commissioner
' Duc Loi Commissioner
Marvin H. Lowrey Commissioner
I Traffic Commissioners:
' Daniel Tirre Chairman
William Alarcon Vice Chairman
Holly Knapp Commissioner
' Frank E. Larson Commissioner
Victor Ruiz Commissioner
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ELECTED OFFICIALS:
City Council:
Frank G..Tripepi City Manager
Hubert E. Foutz 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
IJune 30, 1994
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.
President
v F~ ecutive Director
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McGLADREY&PULLEN, LLP
' Certified Public Accountants and Consultants
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To the Honorable Mayor
' and Members of the City Council
City of Rosemead
Rosemead, California
INDEPENDENT AUDITOR'S REPORT
' We have audited the accompanying general purpose financial statements of the City of Rosemead, California, as of
and for the year ended June 30, 1995, as listed in the table of contents. These general purpose financial 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.
We conducted our audit in accordance with generally accepted auditing standards and "Government Auditing
' Standards," issued by the Comptroller General of the United States. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting principles used and significant estimates
' made by management, as well as evaluating the overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
1 In our opinion, the general purpose financial statements referred to above present fairly, in all material respects,
the financial position of the City of Rosemead, California, as of June 30, 1995, 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.
In accordance with Government Auditing Standards, we have also issued a report dated October 13, 1995 on our
consideration of the City of Rosemead's internal control structure and a report dated October 13, 1995 on its
' compliance with laws and regulations.
Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a
' whole. The combining, individual fund and individual account group statements and schedules listed in the table
of contents as supplementary information are presented for purposes of additional analysis and are not a required
part of the general purpose financial statements of the City of Rosemead, California. Such information has been
subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our
' opinion, is fairly presented in all material respects in relation to the general purpose financial statements taken as a
whole.
San Bernardino, California
October 13, 1995
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i CITY OF ROSEAIEEAD, CALIFORNIA
GENERAL PURPOSE FINANCIAL STATEMENTS
1 YEAR ENDED JUNE 30, 1995
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CITY OF ROSEMEAD, CALIFORNIA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1995
Governmental Fund
Special
Debt
Capital
Assets
General
Revenue
Service
Proiects
Cash and investments
$ 5,460,274 $
4,826,440 $
2,390,426 $
21,217,659
Receivables
1,807,728
1,514,753
100,394
298,016
Due from other funds
1,126,693
689,961
-
-
Propem and equipment
_
_
Amount available in debt service fund
_
Amount to be provided for retirement of general long-term debt
-
-
-
Total assets
$ 8394,695 $
7,031,154 $
2,490,820 $
21,515,675
Liabilities, Municipal Equirv and Other Credits
Liabilities
Checks issued in excess of bank balance
$ - $
- S
- $ 894,599
Accounts payable and accrued liabilities
681,525
647,898
- 185,896
Arbitrage rebate payable
_
Due to other funds
-
1,166,727
- 649,052
Due to other governmental agencies
320,000
242,938
- -
Refundable deposits
_
_
Deferred compensation
Tax allocation notes
-
-
Accrued vacation pay and compensatory tune
5,782
-
- -
Accrued litigation settlement
_
Due to other governments
_
Total liabilities
1,007,307
2,057,563
1,729,547
Municipal Equity and Other Credits
Investment in general fixed assets
Fund balance:
Reserved:
Lone-term receivable
Debt service
Low-moderate mcome housing
Employees retirement
Unreserved:
Designated for:
Capital projects
Building and equipment replacement
Litigation settlements
Self-insurance
Contingencies
Undesignated
Total municipal equity and other credits
Total liabilities, municipal equity
and other credits
See Notes to Financial Statements.
717,796 - - -
- - 2,490,820 -
3,913,958 -
- - - 19,786,128
969,000 - - -
500,000 - - -
280,000 - - -
2,680,000 - - -
2,240,592 1,059,633 - -
7,387,388 4,973,591 2,490,820 19,786,128
$ 8394.695 $ 7,031.154 $ 2,490.820 $ 21,515,675
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I
Fiduciary
Fund Types
Account Groups
Total (Memoran
dum Only)
Trust
General
General
and
Fixed
Long-Tear
Agency
Assets
Debt
1995
1994
$ 697,483 $
$
$
34,592,282 S
37,419
202
'
3,600
-
3,724,491
,
3,005,043
1,816,654
1,284,558
-
12,831,946
-
12,831,946
10,840,705
_
2,490,820
2,490,820
2,423,295
34,334,786
34,334,786
34,774,850
S 701.083 S
12.831.946 S
36.825 606 S
89 790 979 S
89.747.653
$ - S
- $
- $
894,599 S
-
1,515,319
1,645,632
153,976
875
-
-
1,816,654
1,284,558
-
-
-
562,938
239,992
104,592
104,592
83,518
357,828
357,828
291,670
-
-
36,450,000
36,450,000
36,710,000
-
233,364
239,146
144,561
'
142,242
142,242
170,181
175,330
461295
36,825,606
42,083,318
4U99,418
- 12,831,946
' 237,788
12,831,946 10,840,705
717,796
2,490,820
3,913,958
237,788
730,141
2,423,295
6,353,876
247,513
- - - 19,786,128
21,948,754
' - - 969,000
969,000
' - - 500,000
500,000
'
_ - - 280,000
280,000
2,680,000
2,680,000
3 100,225
1,874,951
237,788 12,831,946 - 47 707,661
48,848,235
S 701.083 $ 12,931,946 $ 36.825.606 S 89 790.979 S
89.747.653
CITY OF ROSEMEAD, CALIFORNIA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -
ALL GOVERNMENTAL FUND TYPES
Year ended June 30, 1995
Governmental Fund
Special
Debt
Capital
Revenues
General
Revenue
Service
Projects
Propem, taxes and special assessments
$ - $
386,814 $
- 5
3,411,909
Other taxes
3,907,616
-
-
-
Licenses and permits
699,234
-
-
-
Intergovernmental
2,928,590
3,804,953
-
-
Charges for services
548,962
16,000
-
-
Fines, forfeitures and penalties
280,636
37,333
-
-
Use of money and properr
289,451
266,945
202,817
624,549
Other
146,262
41,671
45,697
8,800,751
4,553,716
202,817
4,082,155
Expenditures
Current:
General government
Public safety
Public works
Public health
Public recreation
Community service
Intergovernmental
Capital outlay
Debt service:
Principal
Interest
Certificate refunding
Issuance costs
Arbitrage rebate expense ('credits)
Investment loss
1,725,808
119,497
- 72.899
4,335,271
331,600
- -
87,381
2,960,435
- 1,353,137
39,852
-
- -
1,767,173
134,224
- -
1,204,558
885,658
- -
-
-
- 175,330
53,433
1,637,238
- 23,071
260,000
2,019,153
- - (153,976)
- 461,876 1,902,724
9,213,476 6.530,528 2,279,153 3,373-185
Revenue over (under) expenditures
Other Fmanejng Sources (Uses)
Proceeds from sale of bonds, net of discounts of 5701.815
Payments to refunding escrow agent
Operating transfers:
From othei funds
(To) other funds
Revenue and other financing sources over
(under) expenditures and other financing (uses)
Fund Balance, beginning
Restatement of beginning fund balance (Note 2)
Fund Balance, ending
See Notes to Financial Statements.
(412,725) (1,976,812) (2,076,336) 708,970
1,371,557 2,314,443 2,143,861 -
(252,106) (2,486,594) - (3,091,161)
1,119,451 (172,151) 2,143,861 (3,091,161)
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706,726 (2,148,963) 67,525 (2,382,191)
6,265,414 7,122,554 2,423,295 21,948,754
415,248 - - 219,565
$ 7,387,388 3 4,973,591 $ 2,490,820 $ 19,786,128
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fSS
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7 _ Total (Memorandum Only)
7777x'
j 1995 1994
S 3,798,723 S 3,528,061
3,907,616 4,011,829
699,234 812,096
6,733,543 5,985,542
' 564,962 429,932
317,969 338,786
1,383,762 1,887,659
233,630 307,415
' 17,639,439 17,301,320
' 1,918,204 2,545,662
4,666,871 4,596,592
4,400,953 4,096,433
39,852 17,665
1,901,397 1,719,424
2,090,216 2,092,838
' 175,330 175,295
1,713,742 1,897,838
260,000 2,055,000
2,019,153 1,137,474
2,651,000
183,403
' (153,976) (59,745)
2,364,600
21,396,342 23,108,879
' (3,756,903) (5,807,559)
' - 36,008,184
(17,034,949)
5,829,861 6,032,610
' (5,829,861) (6,032,610)
18,973,235
(3,756,903) 13,165,676
37,760,017 24,594,341
634,813
S 34,637,927 S 37,760,017
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CITY OF ROSEMEAD, CALIFORNIA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -
BUDGET AND ACTUAL -
GENERAL, SPECIAL REVENUE, DEBT SERVICE AND CAPITAL PROJECTS FUNDS
Year ended June 30, 1995
General
Special Revenue
Over
Over
(Under)
(Under)
Revenues
Budget Actual Budget
Budget Actual
Budget
Property taxes and special assessments
S - S - s - S
380,000 S 386,814 S
6,814
Other taxes
3 907 800 3 907 616 184
Licenses and permits
Intergovernmental
Charges for services
Fines, forfeitures and penalties
Use of money and property
Other
Expenditures
Current:
General government
Public safety
Public works
Public health
Public recreation
Community smice
Intergovernmental
Capital outlay
Appropriations reserves
Debt service:
Principal
Interest
Arbitrage rebate expense (credits)
Investment loss
Revenue over (under)
expenditures
Other Financing Sources (Uses)
Operating transfers:
From other funds
(To) other funds
Revenue and other fumncing
sources over (under)
expenditures end other
financing (uses)
Fund Balance, beginning
Restatement of beginning fund balance (Nom 2)
Fund Balance, ending
See Notes to Financial Statements.
( )
-
-
-
934,600
699,234
(235,366)
-
-
-
2,302,110
2,928,590
626,480
4,053,270
3,804,953
(248,317)
439,750
548,962
109,212
8,300
16,000
7,700
233,000
280,636
47,636
90,000
37,333
(52,667)
255,540
289,451
33,911
126,014
266,945
140,931
184,700
146.262
(38,438)
10,650
41,671
31,021
8,257,500
8,800.751
543,251
4,668,234
4 553 716
(114 518)
1,694,875
1,725,808
30,933
18,600
119,497
100,897
4,405.090
4,335.271
(69,819)
408,750
331,600
(77,150)
66,620
87,381
20,761
3,419,400
2,960,435
(458,965)
45,400
39.852
(5,548)
-
-
-
1,848,940
1,767.173
(81,767)
128,630
134.224
5,594
1,111,956
1,204,558
92,602
1,062,770
885,658
(177,112)
60.140
53,433
(6,707)
2,668,500
1,637,238
(1,031,262)
100,000
-
(100,000)
-
-
-
461,876 461,876
9,333.021 9,213,476 (119,545) 7,706.650 6,530.528 (1,176,122)
(1,075,521) (412.725) 662,796 (3038416) (1976812) 1,061,604
1,097,300 1,371.557
274,257 2,833,100
2,314,443
(518,657)
(252.106)
(252.106) (2,983,100)
(2,496,594)
496.506
1,097,300 1,119.451
22,151 (150000)
(172151)
(22151)
S 21,779 706.726 S
684.947 S (3,188,416)
(2,148,963)5
1.039.453
6,265,414
415.248
S 7,387,388
7,122,554
a 4.913,391
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Debt Smite Capital Proiem
Over Over
(Under) (Under)
Budges A=al Budget Budget Amal Budget
s a s s 3,170,000 S 3,411,909 S 241,909
35,000 202,817 167,817 602,500 624,549 22,049
- 136,000 45,697 (90303)
35,000 202,817 167,817 3 908 500 4 082 155 173,655
55,400
72,899
17,499
' - - 4,002,350
1,353,137
(2,649,213)
' - - 175,300
175,330
30
- - - 27,750
23,071
(4,679)
260,000 260,000
2,019,153 2,019,153 - -
(153,976) (153,976)
1,902,724 1,902,724
2.279,153 2,279,153 - 4,260800 3,373,185 (887615)
(2,244.153) (2,076,336) 167.817 (352 300) 708,970 1,061.270
2,279,153 2,143,861
(135,292)
-
-
- -
-
(3,226,453)
(3,091,161) 135.292
2.279.153 2,143,861
(135292)
(3226453)
(309! 161) 135,292
S 35,000 67,525 S
32.525 S
(3,578,753)
(2,392,191) S 1.196,562
2,423,295
21,948,754
219,565
S 2,490,820
S
19,786,128
(continued)
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CITY OF ROSEMEAD, CALIFORNIA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -
BUDGET AND ACTUAL -
GENERAL, SPECIAL REVENUE, DEBT SERVICE AND CAPITAL PROJECTS FUNDS (CONTINUED)
Year ended June 30, 1995
Total
Over
(Under)
Revenues
Budget
Actual
Budget
Property taxes and special assessments
S 3,550,000 S
3,798,723 S
248,723
Other taxes
3,907,800
3,907,616
(184)
Licenses and pemuts
934,600
699,234
(235,366)
Intergovernmental
6,355,380
6,733,543
378,163
Charges for services
448,050
564,962
116,912
Fines, forfeitures and penalties
323,000
317,969
(5,031)
Use of money and property
1,019,054
1,383,762
364,708
Other
331.350
233,630
(97,720)
16.869.234
17,639,439
770.205
Expenditures
Current:
General government
Public safety
Public works
Public health
Public recreation
Community service
Intergovernmental
Capital outlay
Appropriations reserves
Debt service:
Principal
Interest
Arbitrage rebate expense (credits)
Investment loss
Revenue over (under)
expenditures
Other Financing Sources (Uses)
Operating transfers:
From other funds
(To) other funds
Revenue and other financing
sources over (under)
expenditures and other
financing (uses)
Fund Balance, beginning
Restatement of beginning fund balance (Note 2)
Fund Balance, ending
1,768,875
1,918,204
149,329
4,813,840
4,666,871
(146,969)
7,488,370
4,400,953
(3,087,417)
45,400
39,852
(5,548)
1,977,570
1,901,397
(76,173)
2,174,726
2,090,216
(84,510)
175,300
175,330
30
2,756,390
1,713,742
(1,042,648)
100,000
-
(100,000)
260,000 260,000
-
2,019,153 2,019,153
-
- (153,976)
(153,976)
- 2,364,600
2,364,600
23,579,624 21.396.342
(2,183,282)
(6.710,390) (3.756.903) 2.953,487
6,209,553 5,829,861 (379,692)
(6,209,553) (5,829,861) 379,692
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37,760,017
634,813 t
$ 34,637,927
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z Ur xvJEMEAD, CALIFORNIA
STATEMENT OF REVENUE, EXPENSES AND CHANGES IN FUND BALANCE
PENSION TRUST FUND
Year Ended June 30, 1995
i
Operating revenue, interest and other investment income
$ 14
671
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Operating expenses:
Administrative fees
3
674
Pension benefits
,
20,722
24,396
1
Net (loss)
(9,725)
Fund Balance, beginning
Fund Balance, ending
247,513
1
$ 237,788
See Notes to Financial Statements.
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f-11 V Ur' RUSEMEAD, CALIFORNIA
STATEMENT OF CASH FLOWS
PENSION TRUST FUND
Year Ended June 30, 1995
Cash Flows From Operating Activities
Net (loss)
Adjustments to Reconcile Net (Loss) to Net Cash (Used In) Operating Activities:
Administrative expenses payable
Unrealized interest and investment income
Net cash (used in) operating activities
Cash Flows Provided By Investing Activities
Proceeds from the sale and mantity of annuity contracts
Net increase in cash and cash equivalents
Cash, beginning
Cash, ending
See Notes to Financial Statements.
$ (9,725)
3,674
(14,671)
(20,722)
20,722
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U11 Y OF ROSEMEAD, CALIFORNIA
1 NOTES TO FINANCIAL STATEMENTS
' Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups, and Significant
Accounting Policies
Reporting Entitv: 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; therefore, data from these units are 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 Agency has the same fiscal year as the City. The component unit financial
statements can be obtained from the City Clerk.
Rosemead Redevelopment Agency: The Agency finances street, park and utility improvements. It also acquires and
constmcts major capital facilities, all within the Rosemead Project Area No. 1.
Rosemead Housing Development Corporation: The Corporation accounts 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.
After due consideration of each criteria, especially the substance of the City's relationship with these organizationsfentities
and using professional judgment, management has decided to exclude certain organizations and activities from the City's
combined financial statements because significant oversight responsibility does not exist. The Fire Protection District, the
Library District and the County Flood Control District are not considered component units of the City because the City's
governing body is not financially accountable for these legally separate organizations.
Nature of operations:
I City of Rosemead: The City is a no property tax City which 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 Los Angeles County departments under contract. Some of the contracts now in effect are for police, street
' maintenance and animal control.
Measurement Focus Basis of Accounting and Basis of Presentation: 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 government 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, revenues are 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 revenues available if
they are 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.
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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)
In determining when to recognize intergovernmental revenues (grants, subsidies and shared revenues), 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, monies must be expended on the specific purpose or project before any amounts will be
paid to the City; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies 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 revenues at the time of
receipt, or earlier if they meet the criterion of availability. Other major revenues that are determined to be susceptible to
accrual include taxes and interest. Major revenues that are determined to not be susceptible to accrual because they are
either not available soon enough to pay liabilities of the current period or are 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.
The accrual basis of accounting is used for the Pension Trust Fund. Under the accrual basis of accounting, revenues are
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 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.
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' NOTES TO FINANCIAL STATEMENTS
' Note 1. Repotting Entity, Nature of Operations, Description of Fonds and Account Groups, and Significant
Accounting Policies (Continued)
The Public Transportation Funds account for the City's share of additional sales tar collected in the County of Los
Angeles as a result of Propositions A and C. The funds are used to finance public transportation projects.
c
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.
i 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 Lorv-Moderate Income Housing Set-Aside Fund accounts for the 20% of gross property tax increment revenue
received by the Agency to fund future projects invoking the replacing or rehabilitation of low and moderate income
housing within City limits.
The Rosemead Housing Development Corporation accounts for the construction and financing of low and moderate
income housing. It is a California nonprofit public benefit corporation organized under Section 501(c)(3) of the
' Internal Revenue Code.
The Federal Hightvav Grants Fund accounts for funds received pursuant to the Federal Highway/Transportation
Acts, which are used for pre-approved highway projects. Application and funding processes are administered by
' Caltrans.
The R. Z'Berg/Harris Grant Fund accounts for a State grant for preapproved park projects.
The California If tldliife Grant Fund accounts for a State grant for preapproved specified park projects.
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
I rehabilitation of the community redevelopment project areas and acquisition or construction of major capital facilities
within the Rosemead Redevelopment Agency.
' 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.
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 and deferred compensation plans
for qualified employees.
~i
-14-
a vA " OG vrLALJ, UAL1r VKNIA
NOTES TO FINANCIAL STATEMENTS '
Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups, and Significant '
Accounting Policies (Continued)
Account Groups: ,
The General Fixed Assets Account Group is used to account for fixed assets not accounted for in proprietary or trust
funds.
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.
The following is a summary of significant accounting policies: j
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. All investments are stated at cost or amortized cost
except those of the Deferred Compensation Plan and Pension Trust Fund, which are stated at market value. 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 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: 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 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.
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.
Vacation oav 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
emplovIllent. 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 vested portion of vacation and sick leave by employees at June 30, 1995 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. '
I
1]
-15-
U I Y 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)
' "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 1994 totals presented in the "Memorandum Only" columns are included to provide a summarized
comparison with comparable 1995 amounts and are not intended to present all information necessarv for a fair presentation
' of financial position and results of operations in accordance with generally accepted accounting principles.
' Note 2. Current Accounting Development and Retroactive Restatement
Disclosure About Tax-paver-Assessed Tax Revenues: Effective July 1, 1994, the City adopted Governmental Accounting
' Standards Board Statement No. 22, "Accounting for Taxpayer-Assessed Tax Revenues in Governmental Funds." which
requires the City to recognize revenues from taxpayer-assessed taxes, such as sales, when they become both measurable and
available.
I be material.
As a result of the adoption of Statement No. 22, the find balance of the General Fund has been retroactively restated to
recognize the accrual of tax revenues. The effect of this restatement was to increase the fund balance by $415,248 from the
amounts previously reported.
Restatement. The beginning balance in the Capital Projects Fund has been retroactively restated to correct for prior year
property tax revenues. The effect of this restatement was to increase fund balance by $219,565 from the amounts previously
reported.
Note 3. Budget Matters
The annual budget adopted by the City Council provides for the general operation of the City. It includes proposed
expenditures and estimated revenues for all governmental fund types. Actual expenditures may not exceed appropriations
at the department level.
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. Budget amendments
were nominal for the year.
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
In all funds, unexpended budgeted amounts lapse at the end of the budget year.
-16-
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 4. Cash and Investments
The components of cash and investments at June 30, 1995 are as follows:
Cash in bank $ 1,390,629
Time certificates of deposit 2,094,941
Investments 2,929,083
Cash with fiscal agent 2,389,776
Guaranteed issuance contracts 17,785,850
Investment in State Treasury's Investment Pool 7,418,164
Investment in annuity contracts 583,839
$ 34,592.282
Cash: At year end, the carrying amount of the City's and Agency's deposits was $3,485,570 and the bank balance was
$3,679,953. Of the bank balance, $252,815 was covered by federal depository insurance, and $3,427,138 was uninsured
and uncollateralized. The balance consisted of the following:
Cash in bank $ 1,390,629
Time certificates of deposit 2,094,941
$ 3.485.570
In accordance with State statutes, the Agency 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 a City's and Agency's 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 value of 150% of an Agency's total deposits.
The City and the Agency maintain 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.
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, repurchase agreements, commercial paper and bonds, registered warrants or
treasure notes of the State of California and its local agencies.
Investments included $237,788 which is invested in an annuity contract by the Trust and Agency Funds. Investments also
included $17,785,850 of amounts invested in various Guaranteed Insurance Contracts which accrue interest quarterly at
interest rates ranging from 7.18% to 7.41%, maturing through October 1, 1999.
-17-
H
I
0
0
0
0
I
0
I
D
I
I
I
lid
t-i t Y Ur KU,,EMEAD, CALIFORNIA
t~
NOTES TO FINANCIAL STATEMENTS
Note 4. Cash and Investments (Continued)
t
Other investments are categorized in the following schedule to give an indication of the level of risk assumed by the entity
i' at year end.
x
Category Carrying Market
' Investment Type 1 2 3 Amount Value
U.S. government and government
agency securities $ $ $ 872,179 $ 872,179 $ 873,668
State and municipal bonds 871,794 871,794 862,727
Corporate bonds 1,185,110 1,185,110 1,099,381
$ $ $ 2,929,083 2,929,083 2,835,776
' Cash with fiscal agent 2,389,776 2,389,776
Guaranteed Insurance Contracts 17,785,850 17,785,850
' Investment in State Treasurer's
Investment Pool 7,418,164 7,418,164
Total other investments $ 30,522,873 $ 30,429,566
The three preceding risk description categories are defined as follows:
' Category
Description
1 Investments that are insured, registered or for which the securities are held by the City or its agent in the
' City's name
2 Uninsured and unregistered investments for which the securities are held by counterparty's trust
department (if a bank) or agent in the City's name
3 Uninsured and unregistered investments for which the securities are held by counterparty's trust
department (if a bank) or agent, but not in the City's name
Annuity contracts and cash in bank include $346,051 and $11,777, respectively, in the City's deferred compensation plan as
of June 30, 1995. The annuity contracts are recorded at market value.
' Investment Loss: Prior to February 1995, the Agency's investments included corporate and government bonds with
maturities extending through December 2043. At this time, the carrying value of these investments approximated
$18,496,000 with a market value of approximately $16,131,400. In December 1994, the City and Agency affected a change
' in investment policy in order to conform to maturity limitations in the government code and to improve liquidity and reduce
market value risk associated with longer term investments. As a result of this change, the Agency sold this portfolio,
resulting in a loss due to a market value decline of $ 2,364,600. The proceeds from the sale were reinvested in the
' Guaranteed Investment Contracts referred to above.
a
i
-18-
1
CITY OF ROSEMEAD, CALIFORNIA
r
3
i
NOTES TO FINANCIAL STATEMENTS
Note S. Receivables
Receivables as of June 30, 1995 consist of the following:
Special
Debt Capital Trust and
Geneml Revenue
Service projects tocv
Total
Property tax increment s - s - s
- s 237,683 S - S
237,683
Accrued intenst 84,976 -
100,394 60,333 -
245,703
Due from local utility companies t't 717,796 -
- - -
717,796
Due from other governmental agencies 728,909 1,514,753
- -
2,243,662
Transient occupancy taz 214,694 -
- - -
214,694
Other 61.353 -
- - r Ann
AA osz
During the 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
$493,801. 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 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 year ended June 30, 1990 and $29,372 during the 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 year ended June 30, 1994, 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 Jane 30, 2006.
Note 6. Interfund Receivables and Payables
Interfund receivables and payables as of June 30, 1995 are as follows
General
Special Revenue Funds:
Traffic Safety
State Gas Tax
Local Transportation Fund
Community Development Block Grant
Low-Moderate Income Housing Set-Aside Fund
Public Transportation Fund
RZ' Berg/Harris Grant
California Wildlife Grant
Capital Projects Fund
Trust and Agency Fund Types
-19-
Interfund
Receivables
Payables
$ 1,126,693 $
-
4,681
20,875
43,955
1
-
834,362
423,574
-
201,557
238,370
,
-
17,253
-
72,061
689,961
1,166,727
'
-
649,052
,
875
S 1,816,654 S
1,816,654
kA u Y UP' KUSEMEAD, CALIFORNIA
I NOTES TO FINANCIAL STATEMENTS
I
Note 7. Property and Equipment
Changes in property and equipment during the year ended June 30, 1995 were as follows:
Land
Buildings and improvements
Vehicles
Furniture and office equipment
Special equipment and machinery
Other improvements
Balance
Balance
June 30, 1994 Ac
quisitions Disp
osals June 30, 1995
$ 2,893,234 $
- $
- $ 2,893,234
5,626,998
1,757,371
- 7,384,369
241,891
6,630
7,581 240,940
832,382
149,458
- 981,840
494,247
-
494,247
751,953
85,363
- 837,316
$ 10,840,705 $
1,998,822 $
7,581 $ 12,831,946
Note S. Employee Pension Plans
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 contributions to this plan for the fiscal year ended June 30, 1995. 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 ("PERS"). The value of the annuity contract for retired employees was $346,051 as of June 30, 1995.
Effective November 1, 1992, the City became a member of PERS, an agent multiple-employer public employee retirement
system that acts as a common investment and administrative agent for cities in the State. The City's payroll for'employees
' covered by PERS for the calendar year ended December 31, 1994 was $1,152,395 and total payroll was $1,710,384.
All full-time City employees are eligible to participate in PERS. Benefits vest after five years of service. City employees
who retire at or after age 50 with five years of credited service are entitled to an annual retirement benefit, payable monthly
for life. Retirement benefits are calculated using a formula which multiplies years of credited service by a sliding scale
(based on age) by the employee's highest annual salary during service.
' PERS also provides death and disability benefits to participating employees.
Benefit provisions and all other requirements are established by State statute and City ordinance.
Employees are required to contribute 7% of their salary to the plan. The City contributes the employee's portion as well as
the remaining contribution requirement required to fund the plan.
' PERS has in its investments no securities in the form of bonds, notes, leases receivable, loans or any other instrument
representing debt of the City, or any of the other governments included as part of the City's reporting entity, or any parties
related to the City or the other governments included as part of the City's reporting entity.
' Funding status and progress: The amount shown as the "pension benefit obligation" is a standardized disclosure measure of
the present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits, estimated to
' be payable in the future as a result of employee service to date. The measure is intended to help users assess the funding
status of the system on a going concern basis, assess progress made in accumulating sufficient assets to pay benefits when
due, and make comparisons among employers. The measure is the actuarial present value of credited projected benefits and
is independent of the funding method used to determine contributions to the system.
-20-
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 8. Employee Pension Plans (Continued)
The total PERS pension benefit obligation was computed as of June 30, 1994 as part of an actuarial valuation performed.
Significant actuarial assumptions that will be used to determine the pension benefit obligation include:
A rate of return on the investment of present and future assets of 8.5% per year compounded annually.
Projected salary increases of 4.5% per year compounded annually, attributable to inflation.
No increases attributable to seniority/merit.
No postredrement benefit increases.
The effect on the pension benefit obligation caused by changes in benefit provisions and actuarial assumptions reflected in
the June 30, 1994 pension benefit obligation is a decrease of $219,996.
A comparison of the pension benefit obligation applicable to the City's employees with the plan assets as of June 30, 1994 is
as follows:
Pension benefit obligation:
Retirees and beneficiaries receiving benefits and terminated employees not
yet receiving benefits $ 333,630
Current employees:
Accumulated employee contributions including allocated investment
earnings $ 137,640
Employer-financed, vested 1,302,500
Employer-financed, non-vested 40,581 1,480,721
Total pension benefit obligation $ 1,814,351
Net assets available for benefits, at cost
(market value $1,575,262) 1.580,002
Unfunded pension benefit obligation $ 234,349
Actuarially determined contribution requirements and contribution made: PERS uses the Entry Age Normal Actuarial Cost
Method, which is a projected benefit cost method. That is, it takes into account those benefits that are expected to be earned
in the future as well as those already accrued. According to this cost method, the normal cost for an employee is the level
amount which would fund the projected benefit if it were paid annually from date of employment until retirement. PERS
uses a modification of the Entry Age Cost Method in which the employer's total normal cost is expressed as a level
percentage of payroll. PERS also uses the level percentage of payroll method to amortize any unfunded actuarial liabilities.
The amortization period of the unfunded actuarial liability ends on June 30, 2000.
The significant actuarial assumptions used to compute the actuarially determined contribution requirement are the same as
those used to compute the pension benefit obligation as described earlier in this Note.
-21-
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 8. Employee Pension Plans (Continued)
The contribution to the plan for the fiscal year ended June 30, 1995 totaling $178,518 was made in accordance with
actuarially determined requirements computed through an actuarial valuation performed as of June 30, 1994. The
contribution consisted of
Normal cost (6.761% of current covered payroll)
Amortization of the unfunded actuarial accrued liability (8.73% of current covered payroll)
$ 77,913
100,605
$ 178,518
' Amounts contributed on behalf of
City (8.491% of current covered payroll)
Employees (7% and 9% of current covered payroll)
$ 97,850
80,668
$ 178.518
Trend information: Trend information gives an indication of the progress made in accumulating sufficient assets to pay
benefits when due. Historical information for the years available is as follows:
Year Ended
1993
1994
Net Assets
Available
for Benefits
1,148,500
1,580,000
Unfunded
(Overfunded)
Pension Benefit Percentage Pension Benefit
Obligation Funded Obligation
Unfunded
(Overfunded)
Pension Benefit Contribution to
Obligation System
as Percentage of as Percentage of
Annual Covered Covered Annual Covered Annual
Pavroll Paymll Pavrnll
288,240 398.3 % $ (860,260)$ 1,318,110 (65.3)% 1.4 %
1,814,350 87.1 234,340 1,301,610 18.0 1.4
Showing unfunded pension benefit obligation as a percentage of annual covered payroll approximately adjusts for the effects
of inflation for analysis purposes.
Note 9. Deferred Compensation Agreements
The City has a deferred compensation plan which is organized under Internal Revenue Code 457. The plan allows eligible
employees to defer a portion of their gross income to future years not to exceed the lesser of $7,500 or 25% of the
participant's includable compensation. The deferred compensation is not available to employees until termination,
retirement. death or unforeseeable emergency. The deferred compensation and accumulated earnings thereon totaled
$357,828 at June 30, 1995.
The deferred compensation plan is fully funded by the City as the deferred compensation is earned by the employees. Plan
assets and the related liability to employees are accounted for in an agency fund at the current market value of the annuity
contracts and time certificates of deposit.
All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income
attributable to those amounts, property or rights are (until paid or made available to the employee or other beneficiary)
solely the property and rights of the City (without being restricted to the provisions of benefitr under the plan), subject only
' to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the
City in an amount equal to the fair market value of the deferred account for each participant.
' The City has no liability for losses under the plan, but does have the duty of due care that would be required of any ordinary
prudent investor. The administrative and reporting functions of the plan are being handled by an insurance company.
i
a vi a~v,~r.irar,nu~ I. LLrUruvrA
NOTES TO FINANCIAL STATEMENTS
Note 10. Self-Insurance Program
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and
omissions; and injuries to employees. Beginning in 1977, the City of Rosemead became a member of the Southern
California Joint Powers Insurance Authority (the "Authority") (a joint powers authority of 77 California cities) for the
purpose of pooling their losses and claims of workers' compensation and general liability with those of other member cities.
The Authority is governed by a Board of Directors which is composed of one representative and an alternate selected by the
City Council of each city. Each board member has one vote regarding control of all budgeting, financial and management
issues coming before the Board of Directors.
The Cin of Rosemead, through the Authority, has a self-insured retention of $20,000. The amount exceeding the
self-insured retention level will be shared pro-ratably among the pool up to a maximum of $500,000. Any losses above
$500,000 are covered by excess insurance. The City has employers' liability insurance up to $5,000,000 per occurrence.
The coverage under this arrangement includes statutory liability under California Workers' Compensation Law and any
liability under law for damages arising from employment.
Note 11. Long-Term Debt
Tax allocation bonds. Series 1993 A and B: In November 1993, the Rosemead Redevelopment 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 1993B) 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 Series A and $2,382,551 of Series B proceeds, 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 futttre debt service payments on the 1987 and 1991 tax allocation
bonds. Series 1993A bonds mature on or after October 1, 2001, and Series 1993B bonds mature on or after October 1,
1995.
Defeasance of Prior Debt: The Agency has advance refunded two bond issues, which are considered defLsed and,
accordingly, the long-term debt liability, has been removed from the general long-term debt account group. The Agency is,
however, contingently liable if, for any, reason, the funds on deposit are not sufficient to retire the defeased debt. On
June 30. 1995, $21.635.000 of bonds outstanding are considered defeased.
Compensated absences: That portion of the liability for the vested compensated absences totaling $233,364 which is not
expected to be paid from available resources is reponed in the General Long-term Debt Account Group.
Other lone-term debt: The City has included amounts in the long-term debt group of accounts for the litigation settlement
and amounts owed the State of California, which were a result of the State budget (see Note 12).
_23-
C
1
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i
t X trr ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 11. Long-Term Debt (Continued) .
The following is a summary of the general long-term'debt transactions for the year ended June 30, 1995:
California Tax Allocation Tax Allocation
Accrued
Vacation and
Budget Trailer Bonds Series Bonds Series Litigation
Bill SB1135 1993A 1993B Settlement
Compensatory
Time
T
t
l
Balance, June 30, 1994 $ 175,330 $ 34,275,000 $ 2,435,000 $ 170,181 $
142,634
S
o
a
-
37
198
145
Payments of principal (175,330) - (260,000)
,
,
(435
330)
Increase _ _ _
Additions
-
,
-
Reductions in settlement
90,730
90,730
- - (27 939)
Balance, June 30, 1995 $ - $ 34,275,000 $ 2,175,000 $ 142242 $
233,364 $
(27,9
39)
36,825,606
The annual requirements, principal and interest to amortize the outstanding debt as of June 30
, 1995 are as fol
lows:
'
Accrued
Series 1993 Vacation and
A and B Litigation Compensatory
'
During the Year Ending June 30, Bonds Settlement Time
Interest
Totals
1996 $ 265,000 $ 29,895 $ 233,634 $
2,022,350 $
2
550
879
1997 280,000 35,574 -
2,006,477
,
,
2
322
051
1
1998 295,000 37,666 -
1999 310
1,989,427
,
,
2,322,093
,000 39,107
1,971,450
2,320
557
2000 330,000 - -
1,951,663
,
2
281
663
'
Years thereafter 34,970,000 - -
$ 36
450
000 $
41,800,090
,
,
76,770,090
,
,
142,242 $ 233,634 $
51,741,457 $
88,567,333
'
Note 12. Budget Overeapenditures and Deficit
'
Expenditures exceeded appropriations for the year ended June 30, 1995 in the following special revenue funds:
Amount
'
A
i
of Over-
ppropr
ations Expenditures e
Local Transportation Fund
xpenditures
$ 19,000 $ 113,218 $
Community Parklands Grant Fund
94,218
'
22,550 23,215
Low-Moderate Income Housing Fund 150
665
150
Federal Highway Grant
100,000 196,844
California Wildlife Grant
96,844
88,830 93,217
4,387
The Rosemead Housing Development Corporation has a deficit fund balance of $48,235. The deficit balance
originated at
the time of major construction activities. Construction is now complete. It is anticipated that revenues
will exceed
expenditures in future years.
t
F'
f
f
-24-
CITY OF ROSEMEAD, CALIFORNIA
NOTES TO FINANCIAL STATEMENTS
Note 13. Commitments and Contingent Liabilities
Low-Moderate Income Housine Set-Aside Fund: Under State law, the Agency is required to set aside a portion of its
property tax increment revenues for low and moderate income housing. The Agency has made findings that, for the year
ended June 30, 1991, it was allowed to defer funding of the set-aside. As of June 30, 1995, the accumulated set-aside
amount not yet funded was $5,504,525. As required by law, the Agency devised a plan to fund the accumulating amount.
The fiscal year ended June 30, 1994, 1995 and 1996 obligations are deferred until the fiscal year ending June 30, 2023, as
provided by the Agency's adoption of the housing deficit repayment plan.
Litigation: The City was a defendant in a lawsuit along with 13 other cities, the County of Los Angeles, five county
garbage collection districts and the State of California for reimbursement of landfill cleanup costs of hazardous waste
dumped between 1948 and 1984. The plaintiffs claimed that the cities either accepted for transport or arranged for disposal
or treatment of municipal waste which contained hazardous materials. The plaintiffs also claimed that these materials have
been released from the landfill into the environment. The City and the plaintiffs reached a settlement of the above
referenced matter for $946,726. The City's insurers have agreed to pay $447,467, with the City paying the balance of
$499,259. Of this amount, $300,000 was deposited in an escrow account in January 1994. The remaining amount of
$199,259 will be paid over the neat five years at various interest rates not to exceed 5%. The present value of the remaining
payments as of June 30, 1995 was $142,242. This amount is included in the City's long-term debt group of accounts as of
June 30. 1995. '
In addition, the City enacted a user fee, imposed on residential and commercial refuse bills, to help offset the settlement.
In late July 1995, the Cities involved in the above litigation received a claim for indemnity. The Fortune 500 companies
who utilized the landfill are now being sued for traditional ton damages to their persons and property. The Fortune 500
companies have in turn filed claims with the cities asserting that, if they are liable, then the cities are proportionately liable.
The City of Rosemead has denied the claim. An application for leave to file a late claim was also denied. At the present,
there is not enough information to assess the ultimate outcome.
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 October 13, 1995, the agreement continues to remain on hold.
Note 14. Pronouncement Issued But Not Yet Adopted
In November 1994, the Governmental Accounting Standards Board issued Statement of Governmental Accounting
Standards No. 27, "Accounting for Pensions by State and Local Governmental Employers." This Statement establishes
standards for measurement, recognition, and display of pension expense and related liabilities, assets and disclosures in the
financial statements of state and local government employers. Statement No. 27 is required to be adopted for years
beginning after June 15, 1997, with early implementation encouraged. The City has not completed its assessment of the
effect that the adoption of Statement No. 27 will have on its financial statements.
I
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CITY OF ROSEMEAD, CALIFORNIA
COMBINING AND INDIVIDUAL FUNDS
AND ACCOUNT GROUPS
FINANCIAL STATENIENTS
YEAR ENDED JUNE 30, 1995
THIS PAGE INTENTIONALLY LEFT BLANK
-26-
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GENERAL FUND
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.
i
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-27-
CITY OF ROSEMEAD, CALIFORNIA
'
GENERAL FUND
BALANCESHEET
'
f
June 30, 1995
r
1
1995
1994
'
ASSETS
Cash and investments
$5,460,274
$5,079,143
'
Receivables
1,807,728
1,171,796
Due from other funds
1,126,693
718,608
'
Total Assets
$8,394,695
$6,969,547
LIABILITIES AND MUNICIPAL EQUITY
Liabilities:
Accounts payable and accrued liabilities
$681,525
$702,206
Due to other funds
Due to other governmental agencies
320,000
'
Accrued vacation pay and compensatory time
5,782
1,927
Total Liabilities
$1,007,307
$704,133
,
Municipal Equity and Other Credits:
Fund Balance:
Reserved:
,
Long-term receivable
$717,796
$730,141
,
Unreserved:
Undesignated
2,240,592
1,106,273
Designated
4,429,000
4,429,000
,
Total Fund Balance
$7,387,386
$6,265,414
Total Liabilities, Municipal Equity and Other Credits
$8,394,695
$6,969,547
r
F
s
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-28-
CITY OF ROSEMEAD, CALIFORNIA
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
REVENUES:
' Other Taxes
Licenses and permits
Intergovernmental
Charges for services
Fines, forfeitures and penalties
Use of money and property
Other
Total Revenue
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
Restatement of beginning fund balance
Residual equity transfer
' FUND BALANCE, ENDING
a
S3,907,616
$4,011,829
699,234
812,096
2,928,590
2,643,582
548,962
428,883
280,636
231,551
289,451
428,049
146,262
168,533
$1,725,808
4,335,271
87,381
39,852
1,767,173
1,204,558
53,433
$2,023,405
4,187,980
371,754
17,665
1,711,251
1,011,108
39,541
59,213,476 $9,362,704
($412,725) ($638,181)
$1,371,557 $1,097,300
(252,106) (397,561)
$706,726 $61,558
6,265,414 5,703,856
415,248
500,000
$7,387,388 $6,265,414
-29-
CITY OF ROSEMEAD, CALIFORNIA
GENERALFUND
REVENUE DETAIL - BUDGET AND ACTUAL
Fiscal Year Ended June 30, 1995
t
f
Over
(Under)
Budget
Actual
Budget
1994
TAXES
Maintenance district
$1,300
$1,336
$36
$1,192
Real estate transfer tax
35,000
36,739
1,739
36,696
Trailer coach fees
1,500
-
(1,500)
-
Sales and use tax
2,550,000
2,552,644
32,644
2,704,229
Franchise fees
570,000
568,020
(1,980)
550,555
Transient occupancy tax
750,000
718,977
(31,123)
719,157
S3,907,800
53,907,616
($184)
$4,011,829
LICENSES AND PERMITS
Business license fees
540,000
$39,676
($324)
$38,745
Building permit fees
750,000
470,999
(279,001)
669,676
Public work permit
36,000
67,206
31,206
36,967
Tentative map fees
16,000
2,IS6
(13,814)
15,405
Development review fees
1,000
3,116
2,116
-
Final map fees
15,000
23,455
8,455
16,582
Occupancy permit fees
51,000
56,370
5,370
14,639
Sewer connection
22,000
34,095
12,095
20,082
Strong motion fees
2,000
2,101
101
-
Rehabilitation permit fees
1,600
(1,600)
5934,600
S699,234
($235,366)
$512,096
INTERGOVERNMENTAL
Financial aid to local agencies
$450,000
5807,644
5357,644
$774,534
Motor vehicle in lieu tax
1,750,000
1,959,222
179,222
1,840 261
Other vehicle truces
850
869
19
556
State Highway Grant
71,260
160,855
59,595
-
F.A.U. Grant
28,231
$2,302,110
52,928,590
$626,480
52,643,582
CHARGES FOR SERVICES
Filing and cerdficm;on fees
$20,000
547,858
527,858
$34,137
Other current charges
189,000
225,940
36,940
148,996
Environmental impact reports
100
400
300
-
Recreation fees
202,000
224,286
22,286
247,640
Assessments
6,100
25,363
19,263
(1,890)
Special community events
22,550
25,115
2,565
-
S439,750
S54S,962
$109,212
5428,853
FINES, FORFEITURES AND
PENALTIES
Court tines and forfeitures
5233,000
$280,636
547,636
$231,551
USE OF MONEY AND PROPERTY
Interest earned on investments
5210,190
$227,593
$17,703
$373,997
Rental Income
45,350
61,558
16,208
54,052
$255,540
$289,451
$33,911
$428,049
OTHER
SANE program
$45,000
$42,124
(52,876)
$45,813
Repairs to and sale of City property
100
1,107
1,007
(1,456)
Miscellaneous
139,600
103,031
(36,569)
124,176
$184,700
5146,262
($38,438)
$168,533
Total Revenues
$8,257,500
58,800,751
$543,251
$8 724 523
-30-
S
CITY OF ROSEMEAD, CALIFORNIA
GENERAL FUND
EXPENDITURE DETAIL - BUDGET AND ACT
UAL
f
f
Fiscal Year Ended Jun
e 30, 1995
i
Over
'
(Under)
Budget
Actual
Budget
1994
'
GENERAL GOVERNMENT
Travel and meeting
510,000
524,392
$14,392
$12,336
City council
66,000
59,961
(6,039)
59,905
City administration
479,225
456,339
(22,886)
491,990
'
City clerk
67,880
83,456
15,576
89,427
Finance
211,730
205,309
(6,421)
182,053
City treasurer
11,600
13,022
1,422
11,245
City attorney
145,000
163,829
18,829
500,502
'
General government buildings
402,700
390,979
(11,721)
408,239
Community promotion
273,730
299,868
26,138
233,860
City garage
27,010
28,653
1,643
33,848
'
51,694,875
51,725,808
$30,933
$2,023,405
PUBLIC SAFETY
Law enforcement
54,150,860
54,083,079
($67,781)
$3,959,800
Animal regulation
40,000
47,553
7,553
42,296
Parking control
121,080
118,484
(2,596)
130,179
'
Crossing guard
Emergency services
81,650
11,500
75,743
10,412
(5,907)
(1,088)
43,492
12,213
$4,405,090
54,335,271
($69,819)
$4,187,980
PUBLIC WORKS
'
Engineering and administration
536,620
548,992
$12,372
$60,868
Street and highway construction
3,219
3,219
310,869
Traffic signs and striping maintenance
30,000
35,170
5,170
17
'
566,620
587,381
520,761
$371,754
PUBLIC HEALTH
Public health services
$45,400
539,852
($5,548)
$17,665
PUBLIC RECREATION
Administration
5177,070
5168,235
($8,835)
$175,622
'
Parks
832,470
740,400
(92,070)
719,406
Recreation
547,000
549,923
2,923
550,537
Aquatics
288,300
305,294
16,994
262,039
Dinsmoor Heritage House
4,100
3,321
(779)
3,647
$1,848,940
$1,767,173
(581,767)
$1,711,251
COMMUNITY SERVICE
Planning
$219,486
5218,723
($763)
$156,211
Building regulation
560,000
378,261
(181,739)
532,732
Engineering
266,100
227,979
(38,121)
242,139
Community improvements
66,370
379,595
313,225
80,026
$1,111,956
$1,204,558
592,602
$1,011,108
CAPITAL OUTLAY
560,140
$53,433
($6,707)
$39,541
APPROPRIATION RESERVES
$100,000
($100,000)
Total Expenditures
$9,333,021
$9,213,476
($119,545)
$9,362,704
'
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SPECIAL REVENUE FUNDS
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.
-33-
4
F
F
TRAFFIC SAFETY FUND
SPECIAL REVENUE FUNDS
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 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 FUND
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.
-34-
i
' SPECIAL REVENUE FUNDS (cont'd)
I
t
i~
i NARCOTICS SEIZURE FUND
E
i 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.
' FEDERAL HIGHWAY GRANTS FUND
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.
R. Z'BERG/HARRIS GRANT FUND
I
E
I
i
LI
Established to account for a state grant for pre-approved specified park projects.
CALIFORNIA WILDLIFE GRANT FUND
Established to account for a state grant for pre-approved specified park projects.
-35-
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
June 30, 1995
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
$ -
$376,756
$131,769
$ -
$275,902
$155,123
Receivables
4,681
24,045
15,923
-
116,315
1,194,977
Due from other funds
20,875
43,955
201,557
Total Assets
$4,681
$421,676
$147,692
$43,955
$593,774
$1,350,100
LIABILITIES AND
MUNICIPAL EQUITY
Liabilities:
Accounts payable
$71,676
$492
$ -
$75,424
$272,800
Due to other funds
4,681
-
238,370
834,362
Due to other governmental
agencies
242,938
Total Liabilities
$4,681
$71,676
$492
$313,794
$1,350,100
Municipal Equity:
Reserved for low-moderate
income housing
$ -
$ -
$ -
$ -
$ -
$ -
Unreserved, undesignated
-
350,000
147,200
43,955
279,980
Total Equity
$ -
350,000
147.200
43,955
279,980
$ -
Total Liabilities and
Municipal Equity
$4.681
$421,676
$147 692
$43,955
$593,774
$1,350100
-36-
'
1976
Community
Low-Moderate
Rosemead
Parklands
Street
Narcotics
Income Hous-
Housing
Federal
R. Z'Berg/
Grant
Lighting
Seizure
ing Set-Aside
Development
Highway
Harris
Fund
Fund
Fund
Fund
Corporation
Grants
Grant
$28,948
$209,784
$32,174
$3,490,384
$125,600
12,400
34,291
2,214
17,253
'
423,574
$41,348
$244,075
$32,174
$3,913,958
$127,814
$17,253
$1,324
$19,029
$10,511
$ -
$176,049
$ -
$ -
'
17,253
'
$1,324
919,029
$10 511
$ -
$176,049
$ -
$17,253
' $ - $ - $ - $3,913,958
40,024 225,046 21,663 (48,235)
' $40,024 $225,046. $21,663 $3,913,958 ($48,235)
$41348 $244,075 $32,174 $3,913,958 $127,814 $17253
I
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-38-
1
r
r
r
ASSETS
r Cash and cash investments
Receivables
r Due from other funds
Total Assets
r LIABILITIES AND
MUNICIPAL EQUITY
r Liabilities:
Accounts payable
r Due to other funds
Due to other governmental
agencies
r Total Liabilities
Municipal Equity:
' Reserved for low-moderate
income housing
Unreserved, undesignated
' Total Equity
Total Liabilities and
r Municipal Equity
1
r
r
1
1
r
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL REVENUE FUNDS (continued)
COMBINING BALANCE SHEET
June 30, 1995
California
Wildlife Totals
Grant 1995 1994
$4,826,440
$7,463,777
92,654 1,514,753
961,769
689,961
565,950
92,654 $7,031,154
$8,991,496
$20,591 $647,896
72,063 1,166,729
242,938,
$92,654 2,057,563
$3,913,958
1,059,633
$4,973,591
$916,746
712,204
239,992
$6,353,876
768,678
$92,654 $7,031,154 $8.991,496
-39-
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES
Fiscal Year Ended June 30, 1995
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
Public Recreation
Community services
Investment loss
Capital outlay
Total Expenditure
Revenue over (Linder)
expenditures
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
S-
S-
S-
940,006
60,026
1,009,481
1,329,695
16,000
37,333
-
18,515
-
-
18,442
_
$37,333
5974,521
560,026
S-
$1,027,923
$1,329,695
S- S- S- S-
37,333
988,799 14,513 113,218 1,197,781 449,280
8,561 1,261 875,836
4,702
537,333 5997,360 $15,774 5113,218 $1,197,781 51,329,818
S- (522,839) 544,252 (5113,218) (5169,858) ($123)
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds $ - S - S- $113,218
(To) other funds - - - -
S- S- 5113,218
Revenue and other financing
sources over (under) expenditures
FUND BALANCE, BEGINNING
RESIDUAL EQUITY TRANSFER
FUND BALANCE, ENDING
$ - ($22,839) $44,252 $ -
372,839 102,948 43,955
S- 5123
S- $123
($169,858)
449,838
S- $350,000 $147.200 $43,955 5279 980 S_
1
-40-
0
1
s
,
1976
t
Community
Low-Modcrate
Rosemead
Parklands
Street
Narcotics
Income Housing
Housing
Federal
R. Z'Rerg/
Grant
Lighting
Seizure
Set-Aside
Development
Highway
Harris
Fund
Fund
Fund
Fund
Corporation
Grants
Grant
S-
$386,814
S-
S-
S-
12,400
343,438
17,253
'
4,225
3,655
222,108
41,671
'
$16,625
$386,814
$3,655
$222,108
$41,671
$343,438
$17,253
'
S_
$ -
245,446
48,821
S150
$119,347
S_
$ -
196,844
23,215
17,792
'
461,876
1,632,536
'
S23,215
$245,446
S48,821
S462,026
$1,751,883
S196,844
$17,792
(S6,590)
$141,368
(S45,166)
($239,918)
(S1,710,212)
$146,594
($539)
'
$ -
$ -
$ -
$ -
$2,200,000
S-
$539
(2,200,000)
(140,000
146,594
(S2,200,000)
$2,060,000
$146,594
$539
'
(S6,590)
S141,368
($45,166)
($2,439,918)
$349,788
S-
46,614
83,678
66,829
6,353,876
(398,023)
'
S40,024
5225.046
$21,663
S3,913,958
($48,235)
S-
s
t
_41-
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL REVENUE FUNDS (continued)
COMBINING STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES
Fiscal Year Ended June 30, 1995
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
Public Recreation
Community services
Investment loss
Capital outlay
Total Expenditure
Revenue over (under)
expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
(To) other funds
Revenue and other financing
sources over (under) expenditures
FUND BALANCE, BEGINNING
RESIDUAL EQUITY TRANSFER
FUND BALANCE, ENDING
California
Wildlife
Totals
Grant
1995
1994
5 -
5386,814
$342,315
92,654
31804,953
3,341,960
-
16,000
1,049
-
37,333
107,235
-
266,945
324,596
-
41,671
73,006
592,654
$4,553,716
54,190,161
-
5119,497
5431,117
331,600
408,612
2,960,435
2,903,248
93,217
134,224
8,173
885,658
1,081,730
461,876
1,637,238
1,837,331
593,217
86,530,528
$6,670,211
(5563)
(51,976,812)
(52,480,050)
$563
$2,314,443
$1,916,187
(2,486,594)
(1,668,626)
$563
($172,151)
S247,561
($2,148,963)
(52,232,489)
7,122,554
9,855,043
(500,000)
S-
54,973,591
S7,122,554
-42-
' CITY OF ROSEMEAD, CALIFORNIA
TRAFFIC SAFETY FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
REVENUES:
Fines, forfeiture and penalties
' Total Revenues
' EXPENDITURES:
Public safety
' Total Expenditures
Revenues over (under) expenditures
' FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Budget Actual
590.000 537.333
Over
(Under)
Budget 1994
($52.667) $107.235
590,000 537,333 (552,667) $107,235
590.000 $37.333 ($52.667) 5107235
S- S- S- S-
S- S- S- S-
-43-
i
t
CITY OF ROSEMEAD, CALIFORNIA
STATE GAS TAX FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANCES IN FUND BALANCE
Fiscal Year Ended Jura 30, 1995
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 funds
Revenue and other financing sources
over(under)expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Over
(Under)
Budget
Actual
Budget
5342,500
5940,006
$97,506
8,150
16,000
7,850
640
18,515
17,875
5851,290
5974,521
S123,231
S1,044,200
S988,799
(555,401)
7,500
8,561
1,061
51,051,700
5997,360
($54,340)
(5200,410)
(522,839)
S177,571
(5200,410) (S22,839) $177,571
216,078 372,839 156,761
515,663 S350,000 S334,332
-44-
1
1
1994
S936,417
568 ,
18,704,
5955,689
5983,692 ,
$983,692
(528,003)
(S18,626)
(546,629)
419,468
S372,839
CITY OF ROSEMEAD
CALIFORNIA
,
AIR QUALITY MANAGEMENT DISTRICT FUND
STATEMENT OF REVENUE, EXP
ENDITURES
AND CHANGES IN FUND BA
LANCE
Fiscal Year Ended June 30,
1995
Over
(Under)
Budget
Actual
Budget
1994
'
REVENUES:
Intergovernmental
$55,000
$60,026
55,026
$72,465
Charges for services
150
-
(150)
152
Use of money and property
914
(914)
Total Revenues
556,064
$60,026
$3,962
$72,617
EXPENDITURES:
Public works
5118,000
$14,513
($103,487)
S55,011
Community Services
1,261
1,261
Total Expenditures
5118,000
$15,774
($102,226)
$55,011
Revenues over (under) expenditures (561,936)
544,252
($106,188)
$17,606
OTHER FINANCING SOURCES
(USES):
Operating transfers:
(To) other funds
$ -
S-
$ -
- $ -
Revenue and other financing s
ources
1
over(under)expenditures
(561,936)
544,252
5106,188
$17,606
FUND BALANCE, BEGINNING
84,346
102,948
18,602
85,342
FUND BALANCE; ENDING
522,410
$147,200
5124,790
5102948
-45-
CITY OF ROSEMEAD, CALIFORNIA
a
STA
LOCAL TRANSPORTATION FUND
TEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
Over
(Under)
Budget Actual
Budget
1994
'
REVENUES:
Intergovernmental
519,000
($19,000)
$37,233
Charges for services
304
,
Total Revenues
$19,000 S-
($19,000)
$37,537
,
EXPENDITURES:
Public works
$19,000 $113,218
$94,218
$22,026
Tot
dit
l E
$19
000 $113
218
$94
218
$22
026
'
a
xpen
ures
,
,
,
,
Revenues over (under) expenditures S - ($113,218)
$113,218
$15,511
'
OTHER FINANCING SOURCES (USES):
Operating transfers:
'
Frotn/(To) other funds
S - 5113,218
5113,218
$ -
Revenue and other financing sources
over (under) expenditures
S- S-
So
$15,511
,
FUND BALANCE, BEGINNING
- 43,955
43,955
28,444
,
FUND BALANCE, ENDING
S- 543,955
543,955
$43,955
I
I
_46-
'
'
CITY OF ROSEMEAD, CALIFORNIA
PUBLIC TRANSPORTATION FUND
'
STATEMENT OF REVENUE, EXPENDITURES
AND CHANCES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
w
REVENUES:
Intergovernmental
Charges for services
Use of money and property
Other
Total Revenues
' EXPENDITURES:
Current:
Public works
' Community services
Capital Outlay
Total Expenditures
Revenues over (under) expenditures
' OTHER FINANCING SOURCES (USES):
Operating transfers:
(To) other funds
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
0
Over
(Under)
Budget
Actual
Budget
1994
$925,000
$1,009,481
$84,481
$906,039
-
205
8,130
18,442
10,312
31,928
150
(150)
1,900
$933,280
$1,027,923
394,643
$940,072
$1,203,200 $1,197,781 ($5,419) $965,317
655,255
$1,203,200 $1,197,781 ($5,419) $1,620,572
($269,920) ($169,858) ($100,062) ($680,500)
$ -
$ -
$ -
$27,528
(5269,920)
($169,858)
$100,062
($652,972)
462,705
449,838
(12,867)
1,102,810
$192,785
$279980
$87,195
$449,838
-47-
CITY OF ROSEMEAD, CALIFORNIA
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
REVENUES:
Intergovernmental
Charges for services
Total Revenues
EXPENDITURES:
Current:
General government
Public works
Community services
Capital Outlay
Total Expenditures
Revenues over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From (To) other funds
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Over
(Under)
Budget Actual Budget
51,993,770 $1,329,695 ($664,075)
$],993,770 51,329,695 ($664,075)
S-
S-
5-
935,000
449,280
(485,720)
1,055,270
875,836
(179,434)
3,500
4,702
1,202
51,993,770
51,329,818
(5663,952)
S-
(5123)
(5123)
S - S123 S123
S- S- S-
S- S- S-
-48-
a
1994
$818,523
124 ,
5818,647
S411,728 ,
86,246
426,475
5924,449
($105,802)
5105,802 '
S- ,
,
S-
CITY OF ROSEMEAD, CALIFORNIA
' 1976 COMMUNITY PARKLANDS GRANT FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
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 funds
Revenue and other financing sources
over (under) expenditures
' FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Over
(Under)
Budget Actual Budget 1994
$470 512,400 $11,930
4,225 4,225 12,671
$22,550
523,215
$665
$22,550
523,215
$665
5-
($22,080)
($6,590)
$15,490
$12,671
(522,080)
33,943
$11,863
($6,590)
46,614
540,024
$15,490
12,671
$28,161
$12,671
33,943
$46,614
-49-
CITY OF ROSEMEAD, CALIFORNIA
,
STREET LIGHTING FUND
STATE
MENT OF REVENUE, EXPENDITURES
'
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
Over
(Under)
Budget Actual
Budget
1994
REVENUES:
Special Assessment
5380,000 5386,814
56,814
5342,315
Total Revenues
S380,000 5386,814
56,814
5342,315
'
EXPENDITURES:
Public safety
5266,000 5245,446
($20,554)
$229,387
Total Expenditures
$266,000 $245,446
(520,554)
$229,387
Revenues over (under) expenditures
$114,000 $141,368
527,368
$112,928
'
OTHER FINANCING SOURCES (USES):
Operating transfers:
From (To) other funds
S- S-
S-
S -
Revenue and other financing sources
over (under) expenditures
5114,000 5141,368
527,368
$112,928
,
FUND BALANCE, BEGINNING
603,750 83,678
(520,072)
470,750
RESIDUAL EQUITY TRANSFER
(500,000)
,
FUND BALANCE, ENDING
5717,750 5225,046
(5492,704)
583,678
-50-
'
1
CITY OF ROSEMEAD, CALIFORNIA
NARCOTICS SEIZURE FUND
1
STATE
MENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
1
1
Over
(Under)
Budget Actual
Budget
1994
i
REVENUES:
Intergovernmental
51,000 S-
(51,000)
S-
1
Use of money and property
2,830 3,655
825
3,000
Total Revenues
$3,830 53,655
(5175)
$3,000
1
EXPENDITURES:
Public Safety
552,750 548,821
($3,929)
516,979
1
Total Expenditures
552,750 548,821
($3,929)
516,979
1
Revenues over (under) expenditures
(548,920) (545,166)
53,754
($13,979)
OTHER FINANCING SOURCES (USES):
1
Operating transfers:
-
-
From (To) other funds
S-
s_
s-
S -
Revenue and other financing sources
1
over(under)expenditures
(548,920) ($45,166)
53,754
($13,979)
FUND BALANCE, BEGINNING
61,378 66,829
5,451
80,808
1
5
566
829
FUND BALANCE, ENDING
512.458 521,663
59,20
,
i
1
i
i
i
1
1 _51_
CITY OF ROSEMEAD, CALIFORNIA
LOW-MODERATE INCOME HOUSING FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
REVENUES:
Use of money and property
Other
Total Revenues
EXPENDITURES:
General government
Investment loss
Total Expenditures
Revenues over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From (To) other funds
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Over
(Under)
Budget
Actual Budget
5113,500
5222,108 5108,608
10,000
(10,000)
$123,500
5222,108 $98,608
S-
5150
461,876
$150
461,876
S123,5 00
($239,918)
($363,418)
(52,833.100) (52,200,000) 5633,100
(S2,709,600) (52,439,918) 5269,682
6,095,178 6,353,876 258,698
S3.3 55,578 53,913,958 5528,380
-52-
1994
5257,989
65,561 '
5323,550
S281
5281 i
5323,269
(51,500,000)
(51,176,731)
7,530,607 '
56,353,876
i
' CITY OF ROSEMEAD, CALIFORNIA
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
' STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
REVENUES:
Other
' Total Revenues
' EXPENDITURES:
General government
Capital Outlay
' Total Expenditures
' Revenues 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
Over
(Under)
Budget
Actual
Budget
1994
5500
541,671
541,171
$5,545
5500
541,671
541,171
55,545
$18,600
S119,347
S100,747
S19,108
2,665,000
1,632,536
(1,032,464)
1,837,331
52,683,600
S1,751,883
(5931,717)
51,856,439
($2,683,100)
(S 1,710,212)
(5972,888)
($1,850,894)
52,833,100 52,200,000 ($633,100) $1,200,000
(150,000) (140,000) 10,000 150,000
52,683,100 52,060,000 (5623,100) 51,350,000
S- 5349,788 5349,788 (S500,894)
(398,023) (398,023) 102 871
S- (848 235) (548,235) (S398,023)
-53-
CITY OF ROSEMEAD
CALIFORNIA
'
,
FEDERAL HIGHWAY GRANTS FUND
STATEMENT OF REVENUE, EXPENDITURES
,
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
REVENUES:
Intergovernmental
Total. Revenues
EXPENDITURES:
Public works
Total Expenditures
Revenues over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From (To) other funds
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Over
'
(Under)
Budget
Actual
Budget
1994
'
$108,600
$343,438
5234,838
5571,283
600
5108
5343
438
5234
838
5571
283
,
,
,
,
,
,
5100,000
5196,844
596,844
5854,140
5100,000
5196,844
596,844
5854,140
'
S8,600
S146,594
5137,994
(5282,857)
S-
(146,594)
(146,594)
282,857
t
58,600
S-
(58,600)
'
58,600
S-
(S8,600)
S-
,
t
-54-
'
'
CITY OF ROSEMEAD, CALIFORNIA
R. Z'BERG/HARRIS GRANT FUND
'
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
' REVENUES:
Intergovernmental
1 Total Revenues
' EXPENDITURES:
Public Recreation
Total Expenditures
Revenues over (under) expenditures
' OTHER FINANCING SOURCES (USES):
' Operating transfers:
From (To) other funds
Revenue and other financing sources
' over (under) expenditures
FUN BALANCE, BEGINNING
' FUND BALANCE, ENDING
i'
Over
(Under)
Budget
Actual
Budget
1994
$17,250
$17,253
$3
$17,250
$17,253
$3
$17,250
$17,792
$542
$17,250
$17,792
$542
S-
S-
($539)
($539)
S-
$539
$539
$ -
S-
$
$
-55-
'
CITY OF ROSEMEAD, CALIFORNIA
CALIFORNIA WILDLIFE FUND
STATEMENT OF REVENUE, EXPENDITURES
'
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
Over
'
(Under)
Budget Actual
Budget
1994
REVENUES:
'
Intergovernmental $90,680 $92,654
$1,974
S-
Total Revenues $90,680 $92,654
$1,974
'
EXPENDITURES:
Public Recreation $88,830 593,217
$4,387
S.
Total Expenditures $88,830 $93,217
$4,387
t
Revenues over(under)expenditures $1,850 ($563)
($2,413)
B-
OTHER FINANCING SOURCES (USES):
Operating transfers:
From (To) other funds S- $563
S563
S -
,
Revenue and other financing sources
over(under)expenditures 51,850 S-
(51,850)
S-
'
FUND BALANCE, BEGINNING S-
0
S-
FUND BALANCE, ENDING $1,850
(51,850)
S-
-56-
'
it
►1
I
1
1
1
.1
1
1
0
i
0
D
1
1
1
CAPITAL PROJECTS FUND
(Redevelopment Fund)
The Capital Projects Fund accounts for financial resources to be used for the acquisition or
construction of major capital facilities within the Redevelopment Agency.
-57-
1
CITY OF ROSEMEAD, CALIFORNIA
CAPITAL PROJECTS FUND
BALANCESHEET
June 30, 1995
1995
1994
ASSETS
Cash and investments
Receivables
Due from other funds
$21,217,659
298,016
$21,930,680
771,084
Total Assets
$21 515,675 $22,701,764
LIABILITIES AND MUNICIPAL EQUITY
Liabilities:
Checks in excess of bank balance
Accounts payable and accrued liabilities
Arbitrage rebate payable
Due to City of Rosemead
Due to other funds
Total Liabilities
Municipal Equity and Other Credits:
Fund Balance:
Unreserved:
Designated for capital projects
Total Fund Balance
$894,599
185,896
225,478
423,574
$1,729,547
5-
26,680
153,976
572,354
$753,010
" Total Liabilities, Municipal Equity and Other Credits
-58-
19,786,128 21,948,754
519,786,128 $21,948,754
$21515,675 $22,701,764
' CITY OF ROSEMEAD, CALIFORNIA
' CAPITAL PROJECTS FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1995
REVENUES:
' Property tax increment
Interest
Other
' Total Revenue
EXPENDITURES:
Current:
' Improvements to project area
Professional fees
City administrative services
' Intergovernmental
Arbitrage rebate (credit)
Capital outlay
' Investment loss
Total Expenditures
' Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES):
' Proceeds from sale of bonds, net of
discounts of $701,815
Operating transfers:
From other funds
(To) other funds
' Total Other Financing Sources (Uses)
Revenues and Other Financing
Sources over (under) expenditures
FUND BALANCE, BEGINNING
' PRIOR PERIOD ADJUSTMENT
' FUND BALANCE, ENDING
1995
53,411,909
624,549
45,697
1994
53,185,746
966,619
65,876
$1,353,137
5821,431
66,462
57,123
953,737
981,317
175,330
175,295
(153,976)
(59,745)
23,071
20,966
1,902,724
S4,320,485
51,996,387
(5238,330) $2,221,854
$17,633,419
(2,143,861) (3,019,123)
($2,143,861) $14,614,296
($2,382,191) $16,836,150
21,948,754 5,112,604
219,565
$19,786,128 S21,948,754
-59-
CITY OF ROSEMEAD, CALIFORNIA
CAPITAL PROJECTS FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Fiscal Year Ended June 30, 1995
Over
(Under)
Budget
Actual
Budget
1994
'
REVENUE
Property tax increment
S3, 170,000
S3,411,909
S241,909
$3,185,746
Interest
602,500
624,549
22,049
966,619
'
Other
136,000
45,697
(90,303)
65,876
53,908,500
$4,082,155
$173,655
$4,218,241
'
EXPENDITURES
Improvements to project area
S4,002,350
51,353,137
(S2,649,213)
$821,431
'
Professional fees
43,500
66,462
22,962
57,123
City administrative services
959,200
953,737
(5,463)
981,317
Intergovernmental
175,300
175,330
30
175,295
Arbitrage rebate expense
(153,976)
(153,976)
(59,745)
t
Capital outlay
27,750
23,071
(4,679)
20,966
Investment loss
1,902,724
1,902,724
208
100
S5
$4
320
485
(5887
615)
$1
996
387
'
.
,
,
,
,
,
,
Revenue over(under)expenditures
(S1,299,600)
(5238,330)
S1,061,270
52,221,854
OTHER FINANCING SOURCES (USES):
Proceeds from sale of bonds, net of
discounts of 5701,815
S-
$17,633,419
'
Operating transfers:
From other funds
(To) other funds
(2
279
153)
(2
143
861)
135
292
(3
019
123)
'
,
,
,
,
,
,
,
Total Other Financing Sources (Uses)
(52,279,153)
($2,143,861)
5135,292
$14,614,296
t
Revenue and other financing sources
over (under) expenditures
($3,578,753)
(52,382,191)
$1,196,562
$16,836,150
FUND BALANCE
BEGINNING
21
542
006
21
948
754
406
48
,
,
,
,
,
,7
5,112,604
PRIOR PERIOD ADJUSTMENT
219,565
219,565
'
FUND BALANCE, ENDING
517,963,253
519,786,128
51,822,875
$21,948,754
1
t
-60-
'
r
DEBT SERVICE FUND
The Debt Service Fund account for the accumulation of resources for the payment of general long-
term debt principal, interest and related costs.
-61-
CITY OF ROSEMEAD, CALIFORNIA
DEBT SERVICE FUND
BALANCESHEET
June 30, 1995
ASSETS
Cash and investments with fiscal agent
Receivables
Total Assets
LIABILITIES AND MUNICH'AL 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
1995 1994
$2,390,426
100,394
$2,490,820
$2,490,820
$2,490,820
$2,490,820
$2,322,901
100,394
$2,423,295
$2,423,295
$2,423,295
$2,423,295
-62-
' CITY OF ROSEMEAD, CALIFORNIA
DEBT SERVICE FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
' Fiscal Year Ended Tune 30, 1995
t
REVENUES:
' Interest
Total Revenue
' EXPENDITURES:
Debt service:
' Principal
Interest
' Certificate of refunding
Issuance costs
' Total Expenditures
Revenue over (under) expenditures
' OTHER FINANCING SOURCES (USES):
Proceeds from sale of bonds, net of discounts
' of $701,815
Payments to refunding escrow agent
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
' -63-
1995
5202,817
5202,817
S260,000
2,019,153
$2,279,153
($2,076,336)
5-
2,143,861
1994
5168,395
$168,395
$2,055,000
1,137,474
2,651,000
183,403
$6,026,877
(55,858,482)
S18,374,766
(17,034,949)
3,019,123
$2,143,861 54,358,940
567,525 (51,499,542)
2,423,296 3,922,838
52,490,821 $2,423,296
CITY OF ROSEMEAD, CALIFORNIA
DEBT SERVICE FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Fiscal Year Ended June 30, 1995
REVENUE
Interest
Other
EXPENDITURES
Issuance Costs
Debt Service:
Principal
Interest
Certificate refunding
Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES):
Proceeds from sale of bonds, net of
discounts of $701,815
Advance refunding
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
Over
(Under)
Budget Actual Budget
535,000 5202,817 $167,817
535,000 S202,817 5167,817
2,019,153 2,019,153
260,000 260,000
52,279,153 $2,279,153 SO
($2,244,153) ($2,076,336) $167,817
S- S-
2,279,153 2,143,861
$2,279,153 52,143,861
$35,000
5,300,805
55,335,805
S67,525
2,423,296
52,490,821
-64-
(135,292)
($135,292)
$32,525
(2,877,509)
(52,844,984)
1994
$168,395
$183,403
2,055,000
1,137,474
2,651,000
$6,026,877
($5,858,482)
$18,374,766
(17,034,949)
3,019,123
$4,358,940
($1,499,542)
3,922,838
$2,423,296
4
is
k~
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 and deferred compensation plans for qualified employees.
-65-
CITY OF ROSEMEAD, CALIFORNIA
FIDUCIARY FUNDS
COMBINING BALANCE SHEET
June 30, 1995
ASSETS
Cash and cash investments
Investments in deferred compensation plan
Investments in annuity contracts
Total Assets
LIABILITIES AND MUNICIPAL EQUITY
Liabilities:
Refundable deposits
Refundable deposits
Deferred compensation
Total Liabilities
Municipal Equity:
Fund balance, reserved for
employees retirement
Total Liabilities and Municipal Equity
Pension
Agency Funds
Trust
Refundable
Deferred
Totals
Fund
Deposits
Compensation
1995
1994
$237,788
5101,867
$11,777
$351,432
$98,335
346,051
346,051
276,853
3,600
3,600
247,513
$237,788
5105,467
$357,828
$701,083
5622,701
S- $875 S-
104,592
357,828
S- 5105,467 $357,828
$237,788 S- S
$875
104,592
83,518
357,828
291,670
$463,295
S375,188
5237,788 5247,513
5701,083 $622,701
-66-
'
CITY OF ROSENIEAD, CALIFORNIA
ALL AGENCY FUNDS
'
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES
i
'
Fiscal Year Ended June 30, 1995
' REFUNDABLE DEPOSIT FUND:
' Assets
Cash and cash investments
Receivable
Total Assets
Liabilities
Refundable deposits
' EMPLOYEES DEFERRED
COMPENSATION FUND:
' Assets
Cash and cash investments
Investments in deferred
' compensation plan
Total Assets
' Liabilities
Deferred compensation
Balance Balance
July 1, 1994 Additions Deductions June 30, 1995
$83,518 $18,349 $101,867
3,600 3,600
$83,518 $21,949 $105,467
$83,518 $21,074 $ $104,592
875 875
$83,518 $21,949 $105,467
$14,817 $3,040 $11,777
276,853 69,198 346,051
$291,670 $69,198 $3,040 $357,828
$291,670 $69,198 $3,040 $357,828
-67-
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-68-
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ACCOUNT GROUPS
t GENERAL FIXED ASSETS ACCOUNT GROUP
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).
i GENERAL LONG-TERM DEBT ACCOUNT GROUP
Established to account for the outstanding principal balances of all long-term debt expected
to be financed from governmental fund types.
I
-69
CITY OF ROSEMEAD, CALIFORNIA
STATEMENT OF GENERAL FINED ASSETS
June 30, 1995
General Fixed Assets
Land $2,893,234
Buildings and improvements 7,384,369
Vehicles 240,940
Furniture and office equipment 981,840
Special equipment and machinery 494,247
Other improvements 837,316
Total General Fixed Assets S12,831,946
SOURCES OF FUNDS
Beginning Balance
S10,840,705
General Fund
37,830
Community Development Block Grant
54,767
Community Parklands Grant
1,353
California Wildlife Grant
84,010
Redevelopment Agency
180,664
Rosemead Housing Development Corporation
1,632,617
Ending Balance
S12,831,946
-70-
S2,893,234
5,626,999
241,891
832,382
494,247
751,952
$10,840,705
i
i
i
i
CITY OF ROSEMEAD, CALIFORNIA
STATEMENT OF CHANGES OF GENERAL FIXED ASSETS
Fiscal Year Ended June 30, 1995
Balance
Balance
Function and Activity
July 1, 1994
Additions
Deletions
June 30, 1995
Land
Prior year balance
$2,893,234
$2,893,234
Housing Development Corporation
Total land
$2,893,234
$2,893,234
Buildings and improvements
Prior year balance
$3,470,907
$3,470,907
General government
11,971
11,971
Community Services
50,064
-
50,064
Public Recreation
1,991
-
1,991
Redevelopment Agency
306,869
72,699
-
379,568
Housing Development Corporation
1,837,252
1,632,616
-
3,469,868
Total buildings and improvements
$5,626,999
$1,757,370
$7,384,369
Vehicles
Prior year balance
$230,588
$230,588
General government
13,667
6,630
7,581
12,716
Transportation
(2,364)
(2,364)
Total vehicles
$241.891
$6,630
$7,581
$240,940
Furniture and office equipment
Prior year balance
$793,682
$793,682
General government
95
31,997
32,092
Community Development
9,496
9,496
Public Recreation
2,255
2,255
Redevelopment Agency
36,350
107,965
144,315
Total furniture and once
equipment
$832.382
$149,458
$981,840
Special equipment and machinery
Prior year balance
$490,765
$490,765
Cultural & leisure
3,482
31482
Total special equipment and
machinery
$494,247
$0
$494,247
Other improvements
Prior year balance
$748,492
$748,492
Cultural & leisure
3,460
85,364
88,824
Total other improvements
$751,952
$85,364
$837,316
Total general fixed assets
$10,840,705
$1.998,822
$7,581
$12,831,946
-71-
THIS PAGE INTENTIONALLY LEFT BLANK
-72-
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1
F
1
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i
1
i
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1
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Notes: The City of Rosemead does not
iava,ravenue bonds, therefore, the
Revenue Bond Coverage - Last
Ten Fiscal Years schedule is not
included-
S
T
A
T
S
C
A
L
S
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3
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_73-
CITY OF ROSEMEAD, CALIFORNIA
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION (1)
ALL GOVERNMENTAL FUND TYPES
Last Ten Fiscal Years
Fiscal
Public
Public
General
Public
Public
Year
Safety
Works
Government
Health
Recreation
1985-86
$3,044,452
$3,282,592
$1,161,133
$240,599
$1,411,281
1986-87
3,311,878
7,576,458
1,228,759
375,345
1,483,732
1987-88
3,397,611
5,360,172
1,354,625
525,187
1,409,388
1988-89
3,651,535
7,624,877
1,611,328
605,353
1,529,628
1989-90
3,809,631
8,536,328
1,712,102
856,298
1,775,194
1990-91
3,994,221
6,374,969
2,215,912
1,014,349
1,838,493
1991-92
4,268,763
8,757,535
2,710,801
95,495
1,959,686
1992-93
4,264,366
3,598,687
2,429,325
1,677
1,858,238
1993-94
4,596,592
4,096,433
2,545,662
17,665
1,719,424
1994-95
4,666,871
4,400,953
1,918,204
39,852
1,901,397
(1) General Governmental expenditures includes expenditures of the General, Special Revenue
Capital Projects, and Debt Service Funds only. Operating Transfers Out have been exclude
from all years.
-74-
Community
Capital
Debt
Inter-
Services
Outlay
Service
governmental
Other
Total
$604,797
$1,297,837
$11,042,691
1,239,472
-
1,319,863
-
-
16,535,507
'
906,176
36,184
1,912,681
-
339,240
15,241,264
1,528,378
840,338
2,640,807
7,459
-
20,039,703
'
1,510,545
123,443
2,618,539
-
-
20,942,080
'
2,070,348
160,397
2,602,350
-
-
20,271,039
1,592,156
144,180
2,588,617
-
-
22,117,233
1,411,467
36,384
2,569,813
580,791
213,721
16,964,469
2,092,838
1,897,838
6,026,877
175,295
(59,745)
23,108,879
2,090,216
1,713,742
2,279,153
175,330
2,210,624
21,396,342
Millions
$10
$8
' $6
$4
'
$2
'
$0
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
1985-86
$1,655,865
$193,097
$2,903,490
$429,481
$3,925,603
1986-87
4,235,972
215,186
3,048,707
480,529
5,309,161
1987-88
2,905,521
241,257
3,351,856
512,699
3,464,227
1988-89
3,921,667
273,777
3,591,798
496,966
4,518,697
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
(1) .
Includes General, Speci
al Revenues, and Capital Projects Funds.
-76-
r
°r
Charges for
Services
$263,558
r
268,037
r
293,903
338,686
r
284
851
,
r
228,615
366,345
r
347,262
r
429,932
564,962
1
Fines,
Forfeitures
and Penalties
$313,147
444,131
449,495
477,896
524,001
355,047
278,253
313,980
338,786
317,969
Millions
r $7
$6
Use of
Money and
Property
$2,311,866
1,900,145
2,621,930
2,788,346
2,389,057
1,844,552
1,625,706
1,258, 827
1,887,659
1.383.762
-7-7-
Other
$89,719
38,420
212,503
97,468
191,389
165,237
391,194
318,603
307,415
233,630
Total
$12,085,826
15,940,288
14,053,391
16,505,301
15,331,510
15,282,199
15,958,912
15,634,014
17, 301, 320
17,639,439
1991-92 1992-93 1993-94 1994-95
®Intergovt. OProp. Tax ElOtherTaxes ®Use of M & P
Omisc. ®Lic. & Permits I■Fines, For. & Pen.
CITY OF ROSEMEAD, CALIFORNIA
OTHER TAX REVENUES BY SOURCE
ALL GOVERNMENTAL FUND TYPES
Last Ten Fiscal Years
Fiscal
Maintenance
Real Estate
Trailer Coach
Sales and
Year
District
Taxes
Tax
Use Tax
1985-86
$4,061
$49,308
$1,351
$2,339,127
1986-87
7,300
83,170
3,618
2,452,123
1987-88
2,155
105,223
2,656,680
1988-89
2,200
147,115
2,926
2,665,676
1989-90
698
142,520
1,334
3,205,342
1990-91
1,157
62,734
4,206
3,069,138
1991-92
1,309
55,567
2,474
2,679,103
1992-93
2,427
38,974
2,810
2,647,816
1993-94
1,192
36,696
2,704,229
1994-95
1,336
36,739
-
2,582,644
-78-
L
i'
I
'
Transient
Franchise
Occupancy
Fees
Tax
Total
$293,302
$216,341
$2,903,490
269,760
232,736
3,048,707
336,628
251,170
3,351,856
461,620
312,261
3,591,798
494,223
332,140
4,176,257
a
556,710
551,256
4,245,201
525,327
523,767
3,787,547
Q
547,920
626,743
3,866,690
Q
550,555
719,157
4,011,829
568,020
718,877
3,907,616
O
a
-79
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
1985-86
$337,467,010
$554,010,610
$30,623,894
$
1986-87
372,828,816
600,750,171
57,430,515
1987-88
423,556,926
667,096,486
60,746,385
1988-89
443,973,950
589,616,183
8,095,040
159,654,640
1989-90
533,974,252
652,418,780
6,569,433
160,283,765
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
(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
-so-
S
0
0
0
0
0
Locally Assessed
Personal
Land Improvements Property
Total
Property
Exemptions
Net
Property
Value
- $10,441,676
$44,234,638
$976,777,828
$18,142,141
$958,635,687
- 11,393,530
38,789,686
1,081,192,718
26,507,377
1,054,685,341
- 11,518,291
44,963,801
1,207,881,889
26,639,873
1,181,242,016
- 11,690,310
42,915,285
1,255,945,408
28,171,346
1,227,774,062
- 14,019,566
48,546,323
1,415,812,119
26,320,466
1,389,491,653
- 13,855,289
41,336,467
1,522,017,208
28,314,973
1,493,702,235
- 13,991,213
40,321,969
1,691,720,117
29,940,297
1,661,779,820
- 13,854,565
34,011,333
1,806,215,025
31,116,915
1,775,098,110
- 15,022,792
29,128,797
1,851,070,422
21,456,065
1,829,614,357
- 13,103,797
26,191,169
1,895,166,324
24,386,741
1,870,779,583
-81-
NET PROPERTY VALUE
Millions
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
LIGHTING AND MAINTENANCE DISTRICT
Last Ten Fiscal Years
Assessment
Fiscal Year
Levy
1985-86
206,704
1986-87
223,795
1987-88
250,406
1988-89
285,712
1989-90
315,287
1990-91
314,824
1991-92
350,800
1992-93
388,417
1993-94
347,298
1994-95
339,205
_82_
Current
Assessment
Collected
193,097
215,186
241,257
275,977
304,072
355,366
385,345
398,073
343,507
388,150
Percentage
Collected
,
Currently
93.42 %
,
95.15
'
96.35
96.59
'
96.44
112.88
109
85
'
.
102.49
'
98.91
'
114.43
' CITY OF ROSEMEAD, CALIFORNIA
COMPUTATION OF LEGAL DEBT MARGIN
June 30, 1995
Total assessed valuation
Debt limit: 3.75% of total assessed valuation
Amount of debt applicable to debt limit:
a Total bonded debt $36,450,000
Less tax allocation notes exempt by law 36,450,000
0 Total amount of debt application
to debt limit
0 Legal debt margin
a
' -83-
$ 1,870,779,583
$ 70,154,234
0
$ 70,154,234
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
1985-86
$875,000
$404,000
$1,279,000
$11,042,691
11.58 %
1986-87
950,000
346,875
1,296,875
16,535,507
7.84
1987-88
1,000,000
902,173
1,902,173
15,241,264
12.48
1988-89
1,420,000
1,218,143
2,638,143
20,039,703
13.16
1989-90
1,515,000
1,101,760
2,616,760
20,942,080
12.50
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
21,396,342
10.65
(1) Includes all Governmental Fund Types. Premium for defeasement of bonds not included
-84-
r
i
E
G
$25
O
$20
O
$15
$10
D
$5
a
$0
1985-86
$25
' $20
$15
' $10
t'
{ $5
k'
i
' $0
i 1990-91
i1
TOTAL BONDED DEBT TO
TOTAL GENERAL EXPENDITURES
Millions
Millions
1986-87 1987-88 1988-89 1989-90
1991-92 1992-93 1993-94 1994-95
-85-
CITY OF ROSEMEAD, CALIFORNIA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURE
FOR TOTAL BONDED DEBT TO TOTAL ASSESSED VALUATION
Last Ten Fiscal Years
Debt Service
Total
To Total
Fiscal
Total Debt
Assessed
Assessed
Year
Principal
Interest
Service
Valuation
Valuation
1985-86
$875,000
$404,000
$1,279,000
$958,635,687
0.13 %
1986-87
950,000
346,875
1,296,875
1,054,685,341
0.12
1987-88
1,000,000
902,173
1,902,173
1,181,242,016
0.16
1988-89
1,420,000
1,218,143
2,638,143
1,227,774,062
0.21
1989-90
1,515,000
1,101,760
2,616,760
1,389,491,653
0.19
1990-91
1,630,000
972,350
2,602,350
1,493,702,235
0.17
1991-92
1,760,000
828,617
2,588,617
1,661,779,820
0.16
1992-93
1,900,000
669,813
2,569,813
1,775,098,110
0.15
1993-94
2,055,000
1,137,474
3,192,474
1,829,614,357
0.17
1994-95
260,000
2,019,153
2,279,153
1,870,779,583
0.12
-86-
CITY OF ROSEMEAD, CALIFORNIA
RATI
O OF ANNUAL DEBT SERVICE EXPENDITURE
FOR TOTAL BONDED DEBT PER CAPITA
Last Ten Fiscal Years
a
Debt Service
Fiscal
Total Debt
To Total
a
Year
Principal
Interest Service Population
Population
1985-86
$875,000
$404,000 $1,279,000
46,627
$27.43
1986-87
950,000
346,875 1,296,875
46,893
27.66
D
1987
88
1
000
000
902
173
902
173 1
47
425
40
11
-
,
,
,
,
,
,
.
1988-89
1,420,000
1,218,143 2,638,143
47,707
55.30
1989-90
1,515,000
1,101,760 2,616,760
51,156
51.15
1
9
1
1
630
000
602
972
350 2
350
52
247
49
81
9
0-9
,
,
,
,
,
,
.
a
1991-92
1,760,000
828,617 2,588,617
52,812
49.02
1992-93
1,900,000
669,813 2,569,813
52,922
48.56
1
93
94
2
055
000
474 3
192
474
1
137
798
53
59
34
-
9
,
,
,
,
,
,
,
.
1994-95
260,000
2,019,153 2,279,153
53,639
42.49
' -87-
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 (1)
Angeles
School
Water
Flood
Sanitation
Year
Rosemead
County
Districts
Districts
Control
District
Total
1985-86
0
1.000442
0.166341
0.102660
0.016081
0.000875
1.286399
1986-87
0
1.000000
0.142800
0.078762
0.013598
0
1.235160
1987-88
0
1.005051
0.129215
0.064613
0.012257
0
1.211136
1988-89
0
1.002781
0.115568
0.048900
0.010487
0
1.177736
1989-90
0
1.002242
0.109700
0.048900
0.006944
0
1.167786
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
Source: Tax Rates By Tax Rate Areas Los Angeles County Tax Collector
-88-
I CITY OF ROSEMEAD, CALIFORNIA
SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT
June 30, 1995
1994-95 Assessed Valuation
I
D
0
I
0
0
0
I
I
$1,458,834,906 (after deducting $271,412,231
redevelopment incremental valuation)
Direct and Overlapping Bond Debt:
% Applicable
Los Angeles County 0.319 %
Los Angeles County Building Authorities 0.319
Los Angeles County Pension Obligations 0.319
Los Angeles County Superintendent of Schools
Certificates of Participation
Los Angeles County Flood Control District
Los Angeles County Flood Control District
Certificates of Participation
Los Angeles County Sanitation District #2 Authority
Los Angeles County Sanitation District #15 Authority
Metropolitan Water District
Los Angeles Community College District
Certificates of Participation
Pasadena Area Community College
Certificates of Participation
Montebello Unified School District
Certificates of Participation
El Monte Union High School District
Certificates of Participation
El Monte School District and
Certificates of Participation
San Gabriel Valley Municipal Water District and
Mosquito Abatement District Certificates of
Debt 6/30/94
$225,198
6,646,694
8,124,532
42,521
230,736
743,144
415
2,278,243
1,134,698
189,790
268,019
434,465
747,609
95
56,925
$21,123,084 (1)
429,964
$20,693 120
0.319
0.330
0.330
0.001
7.195
0.181
0.279
3.086
1.919
13.909
0.005
Participation .004 & 3.255
City of Rosemead 100.000
Total Gross Direct and Overlapping Bonded Debt:
Less: Los Angeles County Certificates of Participation (100%
' self-supporting from leasehold revenues on properties in
Marina Del Rey)
Total Net Direct and Overlapping Bonded Debt:
(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
Total Gross Debt
1 Total Net Debt
State School Building Aid Repayable as of 6/30/95:
Source: California Municipal Statistics, Inc.
0.00 %
1.45 %
1.42 %
$ 285,641
1 -89-
CITY OF ROSEMEAD, CALIFORNIA
DEMOGRAPHIC STATISTICS
Last Ten Fiscal Years
Fiscal Year
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
Source:
Income
Unemploy-
Population
Households
Per Capita
ment Rate
(1)
(2)
(3)
(3)
46,627
13,510
16,058
6.7 %
46,893
13,529
16,988
5.9
47,425
13,687
17,863
5.4
47,707
13,841
18,790
4.9
51,156
13,870
19,906
4.7
52,247
14,153
20,786
5.8
52,812
14,169
20,967
8.0
52,922
14,193
21,434
9.6
53,798
14,190
21661
9.7
53,639
14,195
7.4
(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 U
* Information presented is for the County of Los Angeles, which includes the City of Roseme
Income Per Capita and Unemployment Rate specifically for the City of Rosemead is not av
-90-
E
s,
t
0
0
a
0
a
r
i,
60
50
40
30
20
10
0
60
s0
40
30
20
10
0
DEMOGRAPHIC STATISTICS
Thousands
Thousands
-91-
1985-86 1986-87 1987-88 1988-89 1989-90
=IncomePerCapita OHouseholds ®Population;
1990-91 1991-92 1992-93 1993-94
slncome Per Capita E~Households Population !
CITY OF ROSEMEAD
PRINCIPAL TAXPAYERS
June 30, 1995
s Southern California Edison Company
California Federal Savings
Chicago Title Insurance & Trust
Diamond Square
Vikon Center
Rosemead Sheraton Hotel
Lucky Plaza
ABC Plaza
Friendly Inn
San Gabriel Center
Assessed
Valuation
$204,319,473
47,992,375
14,800,000
6,558,405
5,396,412
4,515,000
3,343,771
2,487,205
2,396,200
1,600,000
$293,408,841
Percentage
of Total City's
,
Assessed
Valuation
'
10.92 %
2.57
0.79
,
0.35
0.29
0.24
,
0.18
0.13
0.13
'
0.09
15.69%
'
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.
-92-
' CITY OF ROSEMEAD, CALIFORNIA
' SCHEDULE OF INSURANCE IN FORCE
June 30, 1995
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
t
Policy Expiration
Number Date
Type of Coverage
07/01/96
General Liability
228962-90
12/31/95
Workers Compensation
Coverage
05743382
10/10/96
Public Employees
Blanket Bond
9922993-03
10/19/96
Boiler and Machinery
2781100
10/10/96
Notary Public Bond
Error & Ommissions
CP8119571C 07/01/96 Property Insurance
-93-
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
1985
86
'
-
92
$10,697,897 $20,577,307
$31,275,204
568
1986-87
114
18,613,860 11,244,838
29,858,698
541
'
1987-88
143
15,384,272 19,972,636
35,356,908
737
1988-89
154
14,707,466 3,997,523
18,704,989
782
,
1989-90
76
14,571,516 15,132,741
29,704,257
794
'
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
1
993-94
22
10,047,264 7,651,470
17,698,734
858
1994-95
37
10,880,831 3,552,722
14,433,553
608
'
-94-
'
:1
t
i~
I
I
CITY OF ROSEMEAD, CALIFORNIA
MISCELLANEOUS STATISTICS
June 30, 1995
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
Land Area
Streets & Alleys
Parks
Percentage of Land Use:
Residential
Public Facilities
Commercial (stores & shops)
Mixed Commercial/Residential
Office & Light Industrial
I
I
0
0
0
I
U
0
,O
to
k
t
I
0
Public Facilities
Community Centers
Swimming Pools
Libraries
Gymnasiums
Ball Diamonds (lighted)
Tennis Courts (lighted)
Education Facilities:
Elementary Schools
Secondary Schools
High Schools
Fire Protection: `
Number of firefighters and officers
Police Protection: "
Parking Control (personnel)
Police Protection (sworn personnel)
Major Employers and Number of Employees:
Southern California Edison Company
California Federal Bank
Ball Corporation
Crown City Plating
Chicago Title
53,639
5.5 square miles
74.42 miles
50 acres
64 %
14
9
7
6
100 %
2
2
2
1
4
5
10
3
2
37
4
33
3,500
500
400
300
198
` The City of Rosemead is part of the Los Angeles County Fire Protection District which provides fire fighting, fire
prevention, and plan check services forthe City.
" The City of Rosemead contracts with the Los Angeles County Sheriffs Department for all police services with the
exception of parking control which is provided by City personnel.
-95-
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ROSEMEAD
101 Pasa® n 1
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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 53,639
)3 Anaheim
-96-
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F
1
F
1
1
1
1
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0