1991 CAFR~Pnm~nE
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CITY OF ROSEMEAD
California
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1 COMPREHENSIVE ANNUAL FINANCIAL REPORT
FISCAL YEAR ENDED JUNE 305 1991
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1991
TABLE OF CONTENTS
INTRODUCTORY SECTION Fagg
Letter of Transmittal i
List of Principal Officials xii
Organizational Chart xiii
Certificate of Award for Outstanding Financial Reporting xiv
FINANCIAL SECTION
Independent Auditors' Report 1
General Purpose Financial Statements:
Combined Balance Sheet - All Fund Typed and Account Groups 3
Combined Statement of Revenue, Expenditures and Changes in
Fund Balances - All Governmental Fund Types 5
Combined Statement of Revenue, Expenditures and Changes in
Fund Balances - Budget and Actual - General, Special
Revenue and Debt Service Fund Types 7
Statement of Revenue, Expenses and Changes in Fund Balance -
Pension Trust Fund 9
Statement of Cash Flows - Pension Trust Fund 10
Notes to Financial Statements 11
Combining and Individual Funds and Account Groups Financial
Statements (Supplementary Information):
GENERAL FUND:
Balance Sheet 29
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1991
TABLE OF CONTENTS (cont.)
FINANCIAL SECTION (cont.) Page
Combining and Individual Funds and Account Groups
(Supplementary Information):
GENERAL FUND: (cont.)
Statement of Revenue, Expenditures and Changes in Fund
Balance 30
Revenue Detail - Budget and Actual .31
Expenditure Detail - Budget and Actual 32
SPECIAL REVENUE FUNDS:
Combining Balance Sheet - All Special Revenue Funds 37
Combining Statement of Revenue, Expenditures and Changes
in Fund Balances - All Special Revenue Funds 39
Statement of Revenue, Expenditures and Changes in
Fund Balance - Traffic Safety Fund 41
Statement of Revenue, Expenditures and Changes in
Fund Balance - State Gas Tax Fund 42
Statement of Revenue, Expenditures and Changes in
Fund Balance - County Aid to Cities Fund 43
Statement of Revenue, Expenditures and Changes in
Fund Balance - Local Transportation Fund 44
Statement of Revenue, Expenditures and Changes in
Fund Balance - Public Transportation Fund 45
Statement of Revenue, Expenditures and Changes in
Fund Balance - Community Development Block Grant Fund 46
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1991
TABLE OF CONTENTS (cont.)
FINANCIAL SECTION (cont.) Paae
Combining and Individual Funds and Account Groups
(Supplementary Information):
SPECIAL REVENUE FUNDS: (cont.)
Statement of Revenue, Expenditures and Changes in
Fund Balance - 1976 Community Parklands Grant Fund 47
Statement of Revenue, Expenditures and Changes in
Fund Balance - Street Lighting Fund 48
Statement of Revenue, Expenditures and Changes in
Fund Balance - Narcotics Seizure Fund 49
Statement of Revenue, Expenditures and Changes in
Fund Balance - R. Z'Berg Harris Fund 50
Statement of Revenue, Expenditures and Changes in
Fund Balance - California Wildlife Fund 51
CAPITAL PROJECTS FUND:
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Balance Sheet - Capital Projects Fund 54
Statement of Revenue, Expenditures and Changes in
Fund Balance - Budget and Actual 55
DEBT SERVICE FUND:
Balance Sheet - Debt Service 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
CITY OF ROSEMEAD, CALIFORNIA
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COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1991
TABLE OF CONTENTS (cont.)
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FINANCIAL SECTION (cont.) Paae e
Combining and Individual Funds and Account Groups
(Supplementary Information):
FIDUCIARY FUND TYPES:
Combining Balance Sheet 64
Combining Statement of Changes in Assets and
Liabilities - All Agency Funds 65
ACCOUNT GROUPS:
Statement of General Fixed Assets 68
STATISTICAL SECTION
General Governmental Expenditures by Function - All Governmental '
Fund Types 71
General Revenues by Source - All Governmental Fund Types 73
Other Tax Revenues by Source - All Governmental Fund Types 75
Assessed Valuations of Taxable Property 77
Special Assessment Levies and Collections - Lighting and
Maintenance District 79
Computation of Legal Debt Margin 80
Ratio of Annual Debt Service Expenditure for Total Bonded
Debt to Total General Expenditures 81
Property Tax Rates - All Overlapping Governments 83
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CITY OF ROSEMEAD, CALIFORNIA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
Fiscal Year Ended June 30, 1991
TABLE OF CONTENTS (cont.)
STATISTICAL SECTION (cont.) Pau
Schedule of Direct and Overlapping Bonded Debt 84
Demographic Statistics 85
Principal Taxpayers 87
Schedule of Insurance in Force 88
Construction Activity 89
Miscellaneous Statistics 90
Vicinity Map 91
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MAYOR:
JAY T. IMPERIAL
MAYOR PRO TEM:
MARGARET CLARK
I DENNIS McDONALD
COUNCILMEN:
ROBERT W. BRUESCR
GARY A. TAYLOR
November 25, 1991
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Posemead
8838 E. VALLEY BOULEVARD • P.O. BOX 399 -
ROSEMEAD, CALIFORNIA 91770
TEL. (818) 288-6671..
The Honorable Mayor
and Members of the
Rosemead.City Council
Councilmembers:
Submitted for your information and consideration is the Annual
Financial Report for the year ended June 30,, 1991. This is a
combined report of the :City of Rosemead and the Rosemead
Redevelopment Agency. The report is prepared by the City's Finance
Department and made available to our citizens, 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
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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 the annual
budget. The Council's duties include the appointment 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 Board, and oversees the responsibility for the
operation and accountability of the Redevelopment Agency.
The City of Rosemead has a population of approximately 52,200
living in an area encompassing 5.5 square miles. The City is
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located in the central northwestern section of,Los Angeles County,
approximately 9 miles east of downtown Los Angeles. The City
shares common boundaries with the municipalities of San Gabriel,
,
Temple City, E1 Monte, South E1 Monte, Montebello, and Monterey
Park. Two major freeways, the San Bernardino (I-10) and the Pomona
(I-60) intersect the City in an east\west direction providing
convenient access to all areas of Southern California. In
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addition, major rail and public bus lines provide convenient
regional transportation options.
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Sales tax is the City
s major revenue source and is based on light
manufacturing, commercial, and local retail business, such as
stores and shops. This accounts for approximately 20% of the land
use within the City. The remaining 80% of land area is used for
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residential purposes (65%), and by public facilities activities
HIGHLIGHTS OF FISCAL YEAR 1990-91 ,
Administration: -'last spring the City of Rosemead and several
community based organizations began pooling resources to address ,
the City's growing gang problem. A committee was organized and has
sponsored several parent meetings aimed at educating adults about
gang issues and associated problems. In the future, the program
will evolve into a more formalized series of educational and ,
informational gatherings of parents and kids.
In order to comply with 1989 legislation, AB 939, Source Reduction ,
and Recycling Element, the City began to develop a comprehensive
curbside recycling and green waste program to reduce the volume of
municipal refuse going into the landfills.
Engineering: The City completed several street improvements
projects during the fiscal year. FAU funds where expended for
Storm Drains at Encinita Avenue, Lower Azusa Road. Traffic signal '
upgrades where completed at the intersection of Encinita Avenue and
Lower Azusa Road, which enhanced traffic flow.
Charlotte Avenue (Garvey/So. of Garvey), Newmark Avenue (Falling '
Leaf/Pine) and Fern Avenue (San Gabriel/Falling Leaf) were
reconstructed to City standards. Concrete repairs and street
resurfacing was performed on various streets throughout the city. I
Funds where provided for the widening of the existing overpass on
San Gabriel Boulevard at the Pomona Freeway
the overpass by approximately 30 feet, and
traffic median, between the westbound ramps
(I-60) and Montebello Town Center Drive.
This project widened
added a raised center
of the Pomona Freeway
The undergrounding of electrical and telephone lines along Valley
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Boulevard, between Charlotte and Muscatel Avenues, was performed
during the year.
Construction of the street and landscaping improvements on Garvey
Avenue, from City limit to City limit, began this fiscal year.
1 Streets and sidewalks were upgraded along with construction of
raised landscaped medians.
Parks and Recreation: The Rosemead Redevelopment Agency
constructed a replacement snack bar and rest room at Garvey Park.
The new fully equipped snack bar will be operated by two different
youth organizations, the Rosemead Little Miss Softball and the
' Rosemead American Little League. The proceeds will be used to
enhance the youth sports programs.
' Garvey Park had major enhancements this year in order to better
serve the residents. Two play areas where added along with
nineteen picnic shelters and Bar-B-Ques, plus additional
landscaping.
A new parking lot was constructed at Zapopan Park to improve public
access. Also, to reduce vandalism, and neighborhood disturbances,
a fence was installed around the park in order to close the park
during the evening hours.
I PROSPECTS FOR THE FUTURE
' The Rosemead Redevelopment Agency issued $11,725,000 of Tax
Allocation Bonds during fiscal year 1991-92. These bonds will
provide funds for improvements in the project area.
' During the November elections, the citizens were asked to vote on
a ballot measure that would authorize the City Council to construct
a Senior Housing facility in Rosemead. The measure passed by a
margin of more than 2-to-1.
A new citywide rubbish contract was awarded, and the City's rubbish
subsidy was eliminated. The subsidy was approximately One Million
Dollars in Fiscal Year 1990-91.
The Finance Department has selected and installed a new computer
system, during fiscal year 91-92. This will eliminate the need for
an outside service bureau, and allow for faster and more complete
financial information.
' Street and landscaping improvements on Garvey Avenue, will be
completed this year. Graves Avenue, from New Avenue to San Gabriel
Boulevard, will be reconstructed and widened in a joint project
with Los Angeles County and the City of Monterey Park.
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Various streets thought the city will be resurfaced and a storm '
drain will be constructed in Zapopan Park to alleviate flooding at
the Park, Angeles and Whitmore cul-de-sacs. Electrical and '
telephone lines along Valley Boulevard, between Hart Street and the
east city limit, will be undergrounded.
The Park and Recreation Department has requested a grant of $3.5 '
million from the Mountain Recreation Conservation Authority to
build a new multi-purpose Recreation Center on Garvey Avenue. This
addition will allow programs within the City to expand, while '
better serving its residents..
REPORTING ENTITY AND ITS SERVICES
,
The reporting entity is comprised of the all funds and account
groups of the City of. Rosemead and the Rosemead Redevelopment
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Agency.
The Rosemead Redevelopment Agency finances streets, parks, and
utility improvements within the Redevelopment project area and in
some selected areas outside the project area, but benefitting the
project area. The City of Rosemead provides a broad range of
services to its citizens including general government, public
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safety, street construction and maintenance, sanitation, building
safety, parks and recreational facilities, and cultural services.
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.Some of the functions often provided by municipal government are,
in the City of Rosemead, provided by special districts. These
districts, which usually encompass areas 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 Flood Control District, and the Los Angeles County
Sanitation District. Other Governmental functions paid for by the
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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
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generally accepted accounting principles as set forth by the
Governmental Accounting Standards Board (GASB), applicable
pronouncements of the American Institute of Certified Public
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Accountants, and the full financial disclosure guidelines of the
- Governmental Finance Officers Association of the United States and
Canada. The implementation of Statement No. 3 of the National
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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
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reports's format of consolidating the financial data of the City
and the Redevelopment Agency.
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.
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 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.
I NOTES TO THE FINANCIAL STATEMENTS
' 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 and the Redevelopment Agency. 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.
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FINANCIAL STATEMENT ANALYSIS
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 1990-91 fiscal year revenues for the Governmental Fund types
totaled $15,282,199. Listed below is a recap of these revenues by
major source including the percentage each source represents of
total revenues, and the increase (decrease) over the prior year.
The most notable change in revenues is the increase shown in the
Intergovernmental funds,. which is the result of a FAU funded
project. However, overall the City's revenues are down, from last
fiscal year as a result of the State's action to redistribute funds
normally available to the City, to the County of Los Angeles.
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The 1990-91 fiscal year expenditures for the Governmental Fund
types totaled $20,280,413. Listed below is a recap of these
expenditures by major function including the percentage each
represents to the total, also the dollar amount of increase or
(decrease) over the prior fiscal year.
The most significant changes in expenditures for 1990-91 over 1989-
90, as shown below, are due to an increase of items funded by the
Rosemead Redevelopment Agency for General Administration, and an
increase in community Service programs funded by the community
Block Grant funds.
GENERALFUND
The City of Rosemead remains in a strong financial position at June
30, 1991 with a surplus of Approximately $6.9 million in its main
operating fund. There was a reduction of the General Fund's
surplus from the prior year by approximately $1.7 million. This
was anticipated due to the rubbish subsidy program whereby the City
provides funds to subsidize the cost of rubbish collection services
for the residents of Rosemead. The current rubbish service
contract, along with this subsidy, expired June 30, 1991 and the
City Council does not plan to renew the subsidy.
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GENERAL FIXED ASSETS
As of June 30, 1991, the general fixed assets of the
$8,356,624. This amount represents the original
assets, net of additions and deductions from July 1,
30, 1991, and is considerably less than their present
system of accounting presently recommended by the
Accounting Standards Board does not allow for the
depreciation of general fixed assets as an expense of
funds.
ACCOUNTING SYSTEM
City totaled
cost of the
1990 to June
value. The
Governmental
recording of
governmental
The City's accounting records are maintained on the accrual basis
of accounting for the governmental fund types, the expendable trust
fund (Pension Trust Fund), and agency funds. Revenue is recognized
in the accounting period in which it becomes both available and
measurable. Available means collectible within the current period
or soon enough thereafter to pay current liabilities.
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 form 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.
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' 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. Any new appropriations must be authorized by City Council.
All Budgeted funds unexpended lapse at the end of the budget year.
With the exception of capital projects fund because the budgeted
appropriations relate to all future appropriations as well as
current year appropriations.
CASH MANAGEMENT
The City and the Agency maintain separate cash and investment
pools. Each fund's or fund's type's share of the pool balance is
reported in the financial statements as "cash and cash
' investments." Earnings from the pooled investments are allocated
monthly to each participating fund based on a formula that takes
into consideration each fund's average investment in the pool.
DEBT ADMINISTRATION
' The City of Rosemead, as a general law city, is restricted form
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 $14,930,000 of Tax
Allocation Notes in August 1987 to finance public improvements
within the redevelopment agency's project area. Additionally, the
Agency used proceeds from the 1987 issuance to defease the
$3,550,000 balance of its Tax allocation Bonds Series 1983 by
placing that amount in an irrevocable trust with an escrow agent to
' provide for all future debt service payments on the 1983 Notes.
Accordingly the trust account assets and liabilities for the
defeased bonds are not included in the financial statements.
' The 1987 Tax allocation Notes are payable by a pledge of property
tax increment revenues from the Rosemead Redevelopment Agency's
project area. At June 30, 1991 the outstanding notes totaled
$10,365,000 with interest payments payable semi-annually on
September 1 and March 1, and principal payments due annually on
September 1 through 1995.
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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 the appropriation limit,
having reached approximately 53% of
the calculated limit at June 30,
1991. The City's 1991-92 estimated
revenues and budgeted expenditures
indicate that by June 30, 1992 the
City will be at approximately 50% of
the limit.
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1990-91
1991-92
APPLICABLE FUNDS ® APPROPRIATION 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, 1990. 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 three 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) awards a Certificate of Achievement for
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Excellence in Financial Reporting to local governmental agencies
whose comprehensive annual financial reports are judged to reflect
' the highest standards of public financial reporting. The City of
Rosemead will be submitting this report to the GFOA for review to
determine if it conforms to the program's requirements.
' 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.
' We would also like to thank the Mayor and members of the City
Council for their continued support, leadership and concern for the
' financial stability of the community.
Respectfully submitted,
'
Frank G. Tri epi
City Manager
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Shawna Ahallon
Finance Director
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CITY OF ROSEMEAD, CALIFORNIA
CITY OFFICIALS ,
June 30, 1991
ELECTED OFFICALS:
,
City Council:
Jay T. Imperial
Mayor
Margaret F. Clark
Mayor Pro Tern
Robert W. Bruesch
Councilman
Dennis McDonald .
Councilman
Gary A. Taylor
Councilman
APPOINTED OFFICALS:
,
Planning Commissioners:
Howard Mattern
Chairman
'
Merced "Bill" Ortiz
Vice Chairman
Robert Green
Commissioner
Robert Young
Commissioner
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Marvin H. Lowrey
Commissioner
'
Traffic Commissioners:
Frank E. Larson
..Chairman
'
AI Pinon
. Vice Chairman
Eldon Beezley
Holly Knapp
. Commissioner
. Commissioner
'
Dan Tirre
. Commissioner
Frank G. Tripepi
. City Manager
Hubert E. Foutz
. City Treasurer
Robert L. Kress City Attorney ,
Janice Warner City Clerk
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CALIFORNIA SOCIETY OF MUNICIPAL FINANCE OFFICERS
DEDICATED TO THE PROFESSIONAL ADVANCEMENT OF MUNICIPAL FINANCE ADMINISTRATION
G'ertilZrate of Award
FOR
OUTSTANDING FINANCIAL REPORTING
PRESENTED TO THE
City of Rosemead
This certificate is issued in recognition of meeting professional standards and criteria in reporting
which reflect a high level of quality in the annual financial statements and in the underlying accounting
system from which the reports were prepared for the fiscal year 1989 - 90
/X- 64";" o9m
Cm, Pr01~9i0niitMM nls C mitt ~t
February 22, 1991 1& February 22, 1991
on.
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McGLADREY & PULLEN
Certified Public Accountants and Consultants
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INDEPENDENT AUDITORS' REPORT
To the Honorable Mayor and Members
' of the City Council
City of Rosemead
Rosemead, California
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We have audited the accompanying general purpose financial statements of the City of
Rosemead, California, as of and for the year ended June 30, 1991, 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. 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.
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, 1991, 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.
Our audit was made for the purpose of forming an opinion on the general purpose financial
statements taken as a whole. The combining and individual fund financial statements, 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.
Pasadena, California
September 13, 1991
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CITY OF ROSEMEAD, CALIFORNIA
FINANCIAL STATEMENTS
YEAR ENDED JUNE 30, 1991
2
CITY OF ROSEMEAD, CALIFORNIA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1991
ASSETS
Cash and cash investments
Cash and investments with fiscal agent
Other investments
Investments in deferred compensation plans
Investments in annuity contracts
Receivables
Due from other funds
Property and equipment
Amount available in debt service fund
Amount to be provided for retirement of
general long-term debt
Total assets
LIABILITIES AND MUNICIPAL EQUITY
LIABILITIES
Accounts payable and accrued liabilities
Due to other funds
Due to other governmental agencies
Refundable deposits
Deferred compensation
Tax allocation notes
Accrued vacation pay and compensatory time
Total liabilities
MUNICIPAL EQUITY
Investment in general fixed assets
Fund balance:
Reserved:
Long-term receivable
Debt service
Employees retirement
Unreserved:
Designated for capital projects
Undesiguated
Total municipal equity and other credits
Total liabilities, municipal equity and
other credits
See Notes to Financial Statements.
Governmental Fund Types
Special Capital
General Revenue Proiects
$ 1,663,683 $ 1,443,850 $ 3,157,519
4,685,872 7,123,147
1,459,626 382,454 320,810
419,920 - -
$ 8229.101 $ 1.826.304 $ 10.601.476
$ 1,294,279 $ 185,330 $ 992,225
- 249,986 169,934
243,836 -
10.911
$ - 1.305.190 $ 679.152 $ 1.162.159
t
626,008
- - 9,439,317
6,297,903 1,147,152
$ 6,923,911 $ 1,147,152 $ 9,439,317
8,229,101 $ 1,826,304 $ 10,601,476
3
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1
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1
Governmental
Fund Types
Fiduciary
Fund Types
Account Groups
Total
(Memorandum Only)
Trust
General General
Debt
and
Fused Long-Term
Service
Agency
Assets Debt
1991
1990
$ -
$ 101,243
$ $ -
$ 6,366,295 $
8,651,658
2,668,179
-
-
2,668,179
2,973,099
_
_
_
11,809,019
13,264,580
145,016
-
145,016
98,963
-
894,927
-
894,927
720,335
106,027
-
-
2,268,917
2,495,868
_
- -
419,920
355,868
8,356,624 -
8,356,624
7,588,261
2,774,206
2,774,206
3,079,126
- 7,678,283 7,678,283 8,983,303
$ 2.774.206 $ 1,141,186 $ 8,356,624 $ 10,452,489 $ 43,381,386 $--Y ,211,061
$ $ $ $ $ 2,471,834 $ 1,664,595
419,920 355,868
- 243,836 324,867
78,204 - 78,204 78,209
168,055 - 168,055 123,539
- 10,365,000 10,365,000 11,995,000
87.489 98.400 77-5&7
$ $ 246,259 $ - $ 10.452.489 $ 13.845249 $ 14,619.665
1 $ $ $ 8,356,624 $
1 2,774,206
894,927
1
1
1
1
$ 8,356,624 $ 7,588,261
626,008 626,486
2,774,206 3,079,126
894,927 720,335
- 9,439,317 12,623,923
- - - 7.445.055 8.953.265
$ 2,774,206 $ 894.927 $ 8,356-624 $ $ 29536.137 $ 33.591.396
$ 2,774,206 $ 1,141,186 $ 8,356,624 $ 10,452,489 $ 43,381,386 $ 48,211,061
1 4
CITY OF ROSEMEAD, CALIFORNIA
,D STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
Year Ended June 30, 1991
REVENUE
Property tax increment and special assessments
Other taxes
Licenses and permits
Intergovernmental
Charges for services
Fmes, forfeitures and penalties
Use of money and property
Other
EXPENDITURES
Current:
General government
Public safety
Public works
Public health
Public recreation
Community service
Capital outlay
Debt service:
Principal
Interest
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
FUND BALANCE, ENDING
See Notes to Financial Statements.
Governmental Fund Tvces
Special Capital
General Revenue Projects
$ - $ 347,061 $ 3,059,892
4,245,201 -
479,084
2,763,673 1,793,837
228,615 -
270,466 84,581 -
679,484 79,681 817,037
56.605 95.169
$ 8.723.128 $ 2.305.160 $ 3.972.098
$ 1,579,042
$ 80,845 $ 556,025
3,659,871
334,350 -
1,033,173
756,734 4,585,062
1,014,349
- -
1,804,330
34,163
1,230,417
849,305
127,984
32,413
$ 10.449.166
$ 2.087.810 $ 5.141.087
$ (1,726,038) $ 217,350 $ (1,168,989)
$ 87,816 $ 20,209 $
(20.209) (87,816) (2,015,617)
$ 67,607 $ (67,607) $ (2,015,617)
$ (1,658,431) $ 149,743 $ (3,184,606)
8.582.342 997.409 12.623.923
$ 6,921911 $ L14T152 $ 9.439.317
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Governmental
Total
'
Fund T=s
(Memorandum
Only)
Debt
Service
1991
1990
'
$
$ 3,406,953 $
3,507,606
4,245,201
4,176,257
'
479,084
533,050
4,557,510
3,725,299
228,615
284,851
355,047
524,001
'
268,350
1,844,552
2,389,057
13.463
165,237
191.389
281.813
$ 15,282.199 $
15.331.510
$ $ 2,215,912
$ 1,712,102
'
3,994,221
3,809,631
6,374,969
8,536,328
1,014,349
856,298
1,838,493
1,775,194
2,079,722
1,510,545
160,397
123,443
'
1,630,000 1,630,000
1,516,728
972.350 972,350
1.101.811
$ 2.602.350 $ 20,280,413
$ 20.942.080
'
$ (2.320.537) $ (4.998,214)
$ (5.610.570)
' $ 2,015,617 $ 2,123,642 $ 2,540,339
(2.123.642) (2.540.339)
' $ 2.015.617 $ $
' $ (304,920) $ (4,998,214) $ (5,610,570)
3.079.126 25,282.800 30.893370
' $ 2,774.206 $ 20284586 $ 25,282,800
CITY OF ROSEMEAD, CALIFORNIA
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL -
GENERAL, SPECIAL REVENUE AND DEBT SERVICE FUND TYPES
Year Ended June 30, 1991
REVENUE
Property taxes and special assessments
Other taxes
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 service
Capital outlay
Debt service:
Principal
Interest
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
FUND BALANCE, ENDING
See Notes to Financial Statements.
7
General Fund
Over
(Under)
Budget Actual Budget
4,077,000
4,245,201
168,201
551,500
479,084
(72,416)
3,654,100
2,763,673
(890,427)
349,075
228,615
(120,460)
300,000
270,466
(29,534)
730,800
679,484
(51,316)
26.500
56.605
30.105
$ 9.688.975
$ 8.723.128
$ (965.847)
$ 1,672,057 $ 1,579,042 $ (93,015)
3,634,430
3,659,871
25,441
2,003,210
1,033,173
(970,037)
1,044,480
1,014,349
(30,131)
1,788,317
1,804,330
16,013
1,174,950
1,230,417
55,467
129,955
127,984
(1,971)
$ 11,447,399
$10,449.166
$ (998,233)
$ (1,758,424) $ (1,726,038) $ 32,386
$ 296,200 $ 87,816 $ (208,384)
- (20,209) (20.209)
$ 296,200 $ 67,607 $ (228.593)
1462 224 $ (1,658,431) $ (196,2071
8,582,342
6 923 911
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Special Revenue Debt Service
Over Over
(Under) (Under)
Budget Actual Bud eg t Budget Actual Budget
$ 311,200 $ 347,061 $ 35,861 $ - $ - $
2,402,740 1,793,837 (608,903)
180,000 84,581 (95,419) - -
60,000 79,681 19,681 241,000 268,350 27,350
13.463 13.463
$ 2.953.940 $ 2,305,160 $ (648.780) $ 241.000 1 281.813 $ 40.813
$ 130,290 $ 80,845 $ (49,445) $ - $ - $
475,000 334,350 (140,650) - -
894,910 756,734 (138,176) - -
175,300 34,163 (141,137)
1,295,030 849,305 (445,725)
26,250 32,413 6,163
- 1,630,000 1,630,000
- 972.350 972.350
$ 2.996.780 $ 2,087.810 $ (908.970) $ 2.602.350 $ 2,602,350
$
$ (42340) $ 217.350 $ 260,190 $ (2.361.350) $ (2.320.537) $ 40.813
$ $ 20,209 $ 20,209 $ 2,602,350 $ 2,015,617 $ (586,733)
(82816) (87.816) -
$ $ (62607) $ (67.607) $ 2,602.350 $ 2.015.617 $ (586,733)
(42.840) $ 149,743 L---L 2,583 $ 241,000 $ (304,920) (545.9201
997,409 3.079.126
$ 1.147,152 $ 2.774.206
8
CITY OF ROSEMEAD, CALIFORNIA
STATEMENT OF REVENUE, EXPENSES AND
CHANGES IN FUND BALANCE
PENSION TRUST FUND
Year Ended June 30, 1991
Operating revenue:
Contributions $ 137,411
Interest and other investment income 61.493
$ 198.904
Operating expenses:
Administrative fees $ 4,866
Pension benefits 19.446
$ 24.312
Net income $ 174,592
FUND BALANCE, BEGINNING 720.335
FUND BALANCE, ENDING $ 894.927
See Notes to Financial Statements.
9
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CITY OF ROSEMEAD, CALIFORNIA
STATEMENT OF CASH FLOWS
PENSION TRUST FUND
Year Ended June 30, 1991
3
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 174,592
Adjustments to reconcile net income to net cash provided by
operating activities:
Interest income (61,493)
Net cash provided by operating activities $ 113.099
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of annuity contracts $ (198,904)
Proceeds from the sale and maturity of annuity contracts 24,312
Interest received on annuity contracts 61.493
Net cash (used in) investing activities $ (113.099)
CASH AND CASH EQUIVALENTS, beginning
CASH AND CASH EQUIVALENTS, ending
See Notes to Financial Statements.
10
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
Reporting entity
The criteria of oversight responsibility, special financing relationships and scope of public
service was used in determining the agencies or entities which comprise the City of
Rosemead, California (the City) for financial reporting purposes. Oversight responsibility
is determined by the extent of financial interdependency, control over the selection of the
governing authority and management, ability to significantly influence operations, and
accountability for fiscal matters. Based on these criteria, the Rosemead Redevelopment
Agency (the Agency) is included in the combined financial statements of the City.
Nature of operations
City of Rosemead
The City 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.
Rosemead Redevelopment Agency
The Agency finances street, park and utility improvements within the Rosemead Project
Area No. 1.
Description of funds and account groups
The accounts of the reporting entity are organized on the basis of funds or groups of
accounts, each of which is considered to be a separate accounting entity. The operations
of each fund are accounted for by providing a separate set of self-balancing accounts which
comprise its assets, liabilities, equity, revenue and expenditures. The various funds and
account groups are presented as follows:
11
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' NOTES TO FINANCIAL STATEMENTS
1
Note L Reporting Entity, Nature of Operation, Description of Funds and Account Groups and
Significant Accounting Policies, Continued
' 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 Tn7yw 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 County Aid to Cities Fund accounts for funds received from the County of Los
Angeles for street construction and maintenance projects.
' The Local Transportation Fund accounts for state grants used to finance the construction
of bikeways and sidewalks.
' The Public Transportation Fund accounts for the City's share of additional sales tax
collected in the County of Los Angeles as a result of Proposition A. The funds are used
to finance public transportation projects.
' The Community Development Block Grant Fund accounts for Community Development
Block Grants received from the United States Department of Housing and Urban
' Development.
The 1976 Community Parklands Grant Fund accounts for funds to be used for park
' projects.
The Street Lighting Fund accounts for the operation of street lights within the City.
' The Narcotics Seizure Fund accounts for the funds received from the County of Los
Angeles from the confiscation of cash and other valuables seized during drug related
' police raids. The funds are used to further enhance the City's drug related crime
prevention and detection programs.
1 12
NOTES TO FINANCIAL STATEMENTS
Note L Reporting Entity, Nature of Operations, Description of Funds and Account Groups and
Significant Accounting Policies, Continued
The R. Z'BerVHanis Grant Fund accounts for a state grant for preapproved park projects.
The California Wildlife Grant Fund accounts for a state grant for preapproved specified
park projects.
Capital Projects Fund (Redevelopment Fund) accounts for financial resources to be used for
the acquisition or construction of major capital facilities within the Agency.
The Debt Service Fund accounts for the accumulation of resources for the payment of
general long-term debt principal, interest and related costs.
Fiduciary Fund Types
The Pension 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.
Account Groups
The General Fixed Assets Account Group accounts for all property and equipment except for
public domain fixed assets (e.g., streets, bridges, sidewalks, curbs, gutters and storm drainage
systems).
The General Long-Term DebtAccount Group accounts for the outstanding principal balances
of all long-term debt expected to be financed from governmental fund types.
Significant accounting policies
Basis of accounting
Governmental fund types, the expendable trust fund (Pension Trust Fund) and agency funds
are accounted for using the modified accrual basis of accounting. Revenue is recognized
in the accounting period in which it becomes both available and measurable. Available
means collectible within the current period or soon enough thereafter to pay current
liabilities.
13
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NOTES TO FINANCIAL STATEMENTS
Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups and
Sign kwd Accounting Policies, Continued
Property taxes that have been levied and are due on or before year end are recognized as
revenue if they have been collected within sixty days after year end. Sales taxes are
considered to be measurable when they have been collected by the City and are recognized
as revenue at that time. Special assessments are recognized as revenue at the time
individual installments come due.
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 of accrual include taxes and interest.
Major revenues that are determined to not be susceptible of accrual because they are either
not available soon enough to pay liabilities of the current period or are not objectively
measurable include hotel occupancy taxes, 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 ninety days
after year end; otherwise, it is recorded as an expenditure when it is paid.
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. Investment earnings are accrued.
Cash investments and other investments
The City pools cash and investment resources of its various 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 which are stated at market value. No loss is recognized when market
values decline below costs since it is generally the policy of the City to hold such
investments until they mature. Investment earnings are allocated based on the source of
funds.
14
NOTES TO FINANCIAL STATEMENTS
1
Note L Reporting Entity, Nature of Operations, Description of Funds and Account Groups and
SWnykant Accounting Policies, Continued
,
Receivables
'
Property taxes receivable represent the uncollected March 1, 1991 levy which is due to the
City at June 30, 1991. Property taxes attach as an enforceable lien on property as of March
1, and are due and payable in two equal installments on the following November 1 and
,
February 1. Unpaid taxes become delinquent on December 10 and April 10. An allowance
based on historical collection experience is provided for uncollectible taxes.
'
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 pay and compensatory time
City employees accumulate vacation hours which may be paid upon termination, death or '
retirement. Employees can accumulate up to three weeks of accrued vacation per year
depending on the length of employment. Employees can accumulate up to 160 hours of sick '
leave. Any hours in excess of 160 are considered to be vested and are paid to the employee
based on a vesting schedule. In addition, employees can accrue up to 240 hours of
compensatory time. Any hours in excess of 240 are paid to the employee.
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NOTES TO FINANCIAL STATEMENTS
Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups and
Significant Accounting Policies, Continued
The vested portion of vacation and sick leave by employees at June 30, 1991 that is expected
to be paid within one year is included in accrued liabilities in the General Fund. The
amount not expected to be repaid within one year is included in the General Long-Term
Debt Account Group.
Memorandum totals
Total columns on the combined financial statements are captioned "Memorandum Only" to
indicate that they are presented only to facilitate financial analysis. Data in these columns
do not present financial position or results of operations in conformity with generally
accepted accounting principles. Interfund transactions have not been eliminated in arriving
at these amounts.
Note 2 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 except the Capital Projects Fund. Actual expenditures may not exceed appropriations
at the department level.
The City Manager is authorized to transfer budgeted amounts between funds. Budget
amendments were nominal for the year.
Budget-to-actual comparisons are not presented for the Capital Projects Fund since the
budget relates to all future appropriations as well as current appropriations.
Budgets presented in this report for comparison to actual amounts are presented in
accordance with generally accepted accounting principles. The modified accrual basis of
accounting is employed in the preparation of the budget. Reported budget amounts
represent the original adopted budget as amended.
In all budgeted funds, unexpended budgeted amounts lapse at the end of the budget year.
le
NOTES TO FINANCIAL STATEMENTS
Note 3. Cash and Investments ,
The components of cash and cash investments at June 30, 1991 are as follows:
Cash in bank $ 976,295 ,
Time certificates of deposit 5.390.000
6.366.295 ,
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.
At year end, the carrying amount of the City and the Agency's deposits were $6,366,295
(cash in bank above) and the bank balance was $6,745,367. 1
A summary of collateralization of the bank balances is presented below:
'
Insured or collateralized with securities held by the City
or its agent in the City's name $ 976,044
'
Uncollateralized (in accordance with GASB 3), this category
includes any bank balance that is collateralized with
'
securities held by the pledging financial institution or by
its trust department or agent but not in the City's name
although balances so collateralized meet the requirements
'
of state law 5.769.323
6.745.367
!
Annuity contracts and cash in bank include $145,016 and $23,039, respectively, in the City's
deferred compensation plan as of June 30, 1991. The annuity contracts are recorded at
,
market value.
State statutes authorize the City and the Agency to invest any available funds in securities i
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 treasury notes of the State of California and its local agencies.
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NOTES TO FINANCIAL STATEMENTS
Note 3. Cash and I nvewnm4 Continued
Other investments are categorized in the following schedule to give an indication of the
level of risk assumed by the entity at year end.
Category Carrying Market
Investment Tyne 1 2 3 Amount Value
U.S. government and
government agency
securities
State and municipal bonds
Corporate bonds
Investment in mutual fund
Investment in State Treasurer's
Investment Pool
Total other investments
$ 420,940 $ $ $ 420,940 $ 430,783
193,300 193,300 200,680
- 6364,774 6,764374 6,770,409
$ 614,240 $ $ 6.764,774 $ 7,379,014 $ 7,401,872
450,005 417,166
3,980,000 3980,000
$11,809,019 $11,799.038
The three preceding risk description categories are defined as follows:
Cateeorv 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 the
financial institution or by its trust department or agent in the City's name
3 Uninsured and unregistered investments for which the securities are held by the
financial institution, broker or dealer, or by its trust department or agent but not
in the City's name
18
NOTES TO FINANCIAL STATEMENTS I
Note 4. Receivables
,
Receivables as of June 30, 1991 consist of the following:
Special Capital Debt
'
General Revenue Projects Service Total
Property tax increment $ - $ - $ 200,217 $ $ 200,217
'
Accrued interest 89,591 - 120,593 106,027 316,211
Due from local utility companies (A) 626,008 - - - 626,008
Due from other governmental
agencies 547,000 382,454 929,454
,
Transient occupancy tax 142,109 - 142,109
Other 54.918 54.918
4
4 $
7
$
'
$1.459.626 $ 382,
5
3
0.810
106.027 $2,268.917
(A) During the year ended June 30, 1990, the Agency approved a reimbursement
,
agreement with a local utility company, advancing the utility company funds required
to replace various water mains. The total amount advanced under this agreement was
$334,705. The Agency then contributed this receivable to the City. The City is to
,
collect this receivable from the utility company in fifteen noninterest-bearing annual
installments of $35,987, with the final installment due June 30, 2005.
'
Also, during the year ended June 30, 1987, the Agency approved a similar
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 forty annual installments of $12,345, with the final installment due June
'
30, 2027.
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NOTES TO FINANCIAL STATEMENTS
Note 5. Intefund Receivables and Payables
Interfund receivables and payables as of June 30, 1991 are as follows:
Funds
Interfund
Receivables Payables
General Fund
' Special Revenue Funds:
Traffic Safety
Community Development Block Grant
I Capital Projects Fund
$ 429,294 $
$ $ 6,423
252,937
$ $ 259,360
$ $ 169,934
$ 429,294 $ 429,294
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Note 6. Property and Equipment
Changes in property and equipment during the year ended June 30, 1991 were as follows:
Balance Balance
June 30, June 30,
1990 Acquisitions 1991
Land
$ 2,715,734 $
177,500
$ 2,893,234
Buildings and improvements
2,955,316
466,051
3,421,367
Vehicles
253,872
7,219
261,091
Furniture and office equipment
473,133
94,493
567,626
Special equipment and machinery
447,107
17,707
464,814
Other improvements
743,099
5,393
748,492
$ 7,588,261 $ 768,363 $ 8,356,624
1 20
NOTES TO FINANCIAL STATEMENTS
Note 7- Pension Plat and Deferred Compensation Agreements
The City has a defined contribution pension plan. The plan covers substantially all
employees and is funded by a group annuity insurance contract. Employees eligible for the
plan are vested 100% upon completion of five years of full-time employment. Employees
are not vested before five years. The contributions to the plan are at the discretion of the
City Council. This plan does not allow for employee contributions. The total payroll for
employees covered by this plan for the calendar year ended December 31, 1990 was
$957,249. The total payroll for all employees for the calendar year ended December 31,
1990 was $1,507,396. The total pension contribution for the year ended fiscal June 30, 1991
was $137,411. The value of the annuity contract was $894,927 as of June 30, 1991.
The City has a deferred compensation plan which is organized under Internal Revenue Code
457. The plan allows eligible employees to tax defer a portion of their gross income to
future years not to exceed the lesser of $7,500 or 25% of the participant's includible
compensation. The deferred compensation is not available to employees until termination,
retirement, death or unforeseeable emergency. The deferred compensation and
accumulated earnings thereon totaled $242,262 at June 30, 1991.
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 deposits.
All amounts of compensation deferred under the plan, all property and rights purchased
with those amounts, and all income attributable to those amounts, property, or rights are
(until paid or made available to the employee or other beneficiary) solely the property and
rights of the City (without being restricted to the provisions of benefits under the plan),
subject only to the claims of the City's general creditors. Participants' rights under the plan
are equal to those of general creditors of the City in an amount equal to the fair market
value of the deferred account for each participant.
Note & Long Term Debt
Tax Allocation Notes Series 1987
In August 1987, $14,930,000 of bonds were issued by the Agency to finance public
improvements within the Agency's Project Area No. 1. The bonds outstanding bear interest
from 7.75% to 9.20% with interest payable semiannually on September 1 and March 1.
Principal matures annually on September 1 through 1995. Payment of the bonds is
collateralized by a pledge of tax revenues to be received by the Agency.
21
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NOTES TO FINANCIAL STATEMENTS
Note & Long-Term Debt, Continued
Compensated absences
That portion of the liability for the vested compensated absences totalling $87,489 which is
not expected to be paid from available resources is reported in the general long-term debt
account group.
The following is a summary of the general long-term debt transactions for the year ended
June 30, 1991.
Tax
Accrued
Allocation
Vacation
Notes
and Sick
Series 1987
Leave Total
Balance, June 30, 1990 $ 11,995,000 $ 67,429 $ 12,062,429
Increase - 20,060 20,060
Decrease (1,630,000) - (L630.000)
Balance, June 30, 1991 10,365,000 $ 87,489 $ 10,452,489
The annual requirements, principal and interest, to amortize the outstanding debt as of June
30, 1991 are as follows:
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Tax
Years
Allocation
Ending
Notes
June 30,
Series 1987
Interest
Total
1992
$ 1,760,000
$ 828,617
$ 2,588,617
1993
1,900,000
669,813
2,569,813
1994
2,055,000
496,781
2,551,781
1995
2,230,000
309,312
2,539,312
1996
2,420,000
105,875
2,525,875
$10,365,000 $ 2,410,398 $12,775.398
22
NOTES TO FINANCIAL STATEMENTS
Note 9. Budget OvercWendi ores
Expenditures exceeded appropriations for the year ended June 30, 1991 in the following
special revenue fund:
Narcotics Seizure Fund
Amount of
Over-
Appropriation Expenditures expenditures
$ - $ 2,121 $ 2,121
The budget overexpenditures were due to the margin of error in estimating appropriations
based on the best known facts at the time the budgets were adopted. The effect on the
financial statements caused by these overexpenditures was not considered material as the
actual revenue of these funds was also more than the estimated revenue used in preparing
the budgets.
Note 10. Commitments and Contingent Liabilities
Under state law, the Agency is required to set aside a portion of its property tax increment
revenue 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,
1991, the accumulated set aside amount not yet funded was approximately $3,650,000. The
law requires the Agency to devise a plan to fund the accumulating amount and to begin
funding it by 1996.
The City is a defendant in a lawsuit along with 26 other cities for reimbursement of landfill
cleanup costs of hazardous waste dumped between 1948 and 1984. The plaintiffs claim that
the cities either accepted for transport or arranged for disposal or treatment municipal waste
which contained hazardous materials. The plaintiffs also claim that these materials have
been released from the landfill into the environment. A trial date has been set for February
4, 1992. The City intends to defend the case vigorously and may assert claims for indemnity
against other third-party defendants which, if successfully litigated, would offset, at least
partially, any recovery against the City. The parties have engaged in settlement negotiations
but no agreement has yet been reached.
In a separate action, the City has been named as a defendant along with 80 other
governmental entities in Southern California for a variety of damages resulting from the
release of hazardous substances into the ocean waters around Los Angeles. The amount
of damages to be claimed is unknown at this time.
23
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NOTES TO FINANCIAL STATEMENTS
Note IL Subsequent Event
The City is expected to issue $11,725,000 of Subordinate Lien Tax Allocation Bonds, during
October 1991. These bonds are being issued to provide funds for the acquisition,
construction, improvement and financing of improvements contemplated by the
Redevelopment Plan for the Agency's Redevelopment Project Area No. 1. The principal
amount is expected to be repaid starting October 1996 through October 2002. The bonds
would be subordinated to the payment of the Tax Allocation Notes as explained in Note 8
to the financial statements.
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CITY OF ROSEMEAD, CALIFORNIA
COMBINING AND INDIVIDUAL FUNDS
AND ACCOUNT GROUPS
FINANCIAL STATEMENTS
YEAR ENDED JUNE 309 1991
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GENERAL FUND
The General Fund accounts for all financial resources except those required to be accounted
1 for in another fund. These resources are devoted to financing the general services that the
City performs for its citizens.
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CITY OF ROSEMEAD, CALIFORNIA
GENERAL FUND
BALANCE SHEET
June 30, 1991
kwpl
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Cash and cash investments
Other investments
Receivables
Due from other funds
Total Assets
LIABILITIES AND MUNICIPAL EQUITY
liabilities:
Accounts payable and accrued liabilities
Deferred revenue
Accrued vacation pay and compensatory time
Total Liabilities
Municipal Equity and Other Credits:
Fund Balance:
Reserved:
Long-term receivable
Unreserved:
Undesignated
Total Fund Balance
Total Liabilities, Municipal Equity and Other Credits
1991 1990
$1,663,683
$3,492,546
4,685,872
4,898,178
1,459,626
976,397
419,920
355,868
$8,229,101
$9,722,989
$1,294,279
10,911
$1,305,190
$626,008
6,297,903
$6,923,911
$980,489
150,000
10,158
$1,140,647
$626,486
7,955,856
$8,582,342
$8,229,101 $9,722,989
29
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CITY OF ROSEMEAD, CALIFORNIA
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
1991
1990
REVENUES:
Other taxes
$4,245,201
$4,176,257
Licenses and permits
479,084
533,050
Intergovernmental
2,763,673
2,108,603
Charges for services
228,615
284,851
Fines, forfeitures and penalties
270,466
319,756
Use of money and property
679,484
813,647
Other
56,605
82,085
Total Revenue
$8,723,128
$8,318,249
EXPENDITURES:
Current:
General government
$1,579,042
$1,398,452
Public safety
3,659,871
3,417,893
Public works
1,033,173
420,856
Public health
1,014,349
856,298
Public recreation
1,804,330
1,762,254
Community service
1,230,417
1,226,626
Capital outlay
127,984
$107,805
Debt service:
Principal
-
1,728
Interest
51
Total Expenditures
Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
(To) other funds
$10,449,166
($1,726,038)
$87,816
(20,209)
$9,191,963
($873,714)
Total Other Financing Sources (Uses)
Revenues and Other Financing
Sources over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
(75,307)
$67,607 ($75,307)
($1,658,431) ($949,021)
8,582,342 9,531,363
$6,923,911 $8,582,342
30
CITY OF ROSEMEAD, CALIFORNIA
GENERAL FUND
REVENUE DETAIL - BUDGET AND ACTUAL
Fiscal Year Ended June 30, 1991
TAXES
Maintenance district
Real estate transfer tax
Trailer coach fees
Sales and use tax
Franchise fees
Transient occupancy tax
LICENSES AND PERMITS
Business license fees
Building permit fees
Occupancy permit fees
Sewer connection
Transfer of Agency receivable
Supplemental subvention
Financial aid to local agencies
Motor vehicle in lieu tax
Other vehicle taxes
Cigarette tax
F.A.U. Grant
FEfSIM Grant
CHARGES FOR SERVICES
Filing and certification fees
Other current charges
Environmental impact reports
Recreation fees
Assessments
FINES, FORFEITURES AND
PENALTIES
Court fines and forfeitures
USE OF MONEY AND PROPERTY
Interest earned on investments
Rental income
OTHER
Repairs to and sale of City property
Miscellaneous
Total Revenue
Over
(Under)
Budget
Actual
Budget
1990
$3,000
$1,157
($1,843)
$698
145,000
62,734
(82,266)
142,520
1,000
4,206
3,206
1,334
2,950,000
3,069,138
119,138
3,205,342
528,000
666,710
28,710
494,223
450,000
661,266
- 101,256
332,140
$4,077,000
$4,246,201
088,201
$4,178,267
$34,500
$32,830
($1,670)
$33,073
498,000
416,084
(81,916)
488,290
14,000
12,249
(1,761)
9,138
5,000
17,921
12,921
2,549
$661,600
479,084
($72,416)
$533,050
-
-
-
$169,720
-
17,677
17,677
-
200,000
92,861
(107,139)
150,139
1,737,500
1,866,271
127,771
1,689,632
840
814
(26)
773
85,000
75,408
(9,592)
82,839
1,630,760
711,642
(919,118)
-
-
-
15,500
$3,654,100
$2,763,673
($890,427)
$2,108,603
$10,000
$7,680
($2,320)
$6,472
105,700
49,066
(56,634)
89,885
1,000
-
(1,000)
300
215,376
168,848
(46,527)
170,061
17,000
3,021
(13,979)
18,133
$349,076
$228,615
($120,460)
$284,861
$300,000
$270,466
($29,539)
$319,756
$720,000
$669,102
($60,898)
$808,445
10,800
10,382
(418)
5,202
$730,800
$679,484
($61,316)
$813,647
$1,000
$145
($866)
$28,035
25,500
56,460
30,960
54,050
$26,500
$56,605
$30,105
$82,085
$9,688,975
$8,723,128
($965,847)
$8,318,249
31
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O
OS
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ITY
F R
EMEAD,
AL
F
R
GENERAL FUND
EXPENDITURE DETAIL - BUDGET AND ACTUAL
Fiscal Year Ended June 30, 1991
1
Over
(Under)
Budget
Actual
Budget
1990
'
GENERAL GOVERNMENT
Travel and meeting
$13,000
$20,406
$7,406
$26,011
City council
33,650
32,200
(1,450)
31,743
City adminstration
663,980
492,423
(171,657)
372,930
City clerk
65,350
66,874
11,524
80,624
Finance
209,287
141,902
(67,386)
160,744
City treasurer
6140
5218
(922)
7537
'
City attorney
87800
257782
169,982
101000
General government buildings
352680
307347
(45,333)
290282
Community promotion
221600
240385
18,785
297130
'
City garage
28,570
14,505
(14,065)
30,451
$1,672,057
$1,579,042
($93,016)
$1,398,462
PUBLIC SAFETY
Law enforcement
$3,439,200
$3,489,926
$50,726
$3,263,996
Animal regulation
40,000
26,331
(13,669)
25,266
Parking control
97,220
100,830
3,610
90,843
'
Crossing guard
50210
40146
(10,064)
37788
Emergency services
7,800
2,638
(5,162)
-
$3,634,430
$3,669,871
$25,441
$3,417,893
'
PUBLIC WORKS
Engineering and administration
$34,450
$25,504
($8,946)
$38,039
Street construction
$1,879,760
908,097
(971,663)
93,992
'
Traffic signs and striping maintenance 89,000
99,572
10,572
288,825
$2,003,210
$1,033,173
($970,037)
$420,866
'
PUBLIC HEALTH
Public health services
$1,044,480
$1,014,349
($30,131)
$856,298
PUBLIC RECREATION
Administration
$161,460
$194,415
$32,955
$185,408
Parks
858,474
823,450
(35,024)
834,026
'
Recreation
Aquatics
525,533
242,850
513,148
273,317
(12,385)
30,467
496,144
246,676
$1,788,317
$1,804,330
$16,013
$1,762,259
COMMUNITY SERVICE
Planning
$260,050
$147,728
($112,322)
$232,076
Building regulation
685000
692229
107,229
626562
Engineering
252600
293855
41,255
317012
'
Redevelopment
32300
(32,300)
9039
Community improvements
45,000
96,605
51,605
41,937
$1,174,950
$1,230,417
$55,467
$1,226,626
'
CAPITAL OUTLAY
$129
966
$127
984
971)
($1
$107
805
,
,
,
,
'
DEBT SERVICE
-
-
-
$1,779
Total Expenditures
$11,447,399
$10.449,166
($998,233)
$9,191,963
'
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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.
34
SPECIAL REVENUE FUNDS
TRAFFIC SAFETY FUND
'
Established to account for the receipt of vehicle code fines which are expended for
traffic safety enforcement.
,
STATE GAS TAX FUND
Established to account for funds collected from the State of California which
'
are used for street construction, street maintenance, engineering and administrative
costs.
,
COUNTY AID TO CITIES FUND
E
bli
h
d
f
f
d
i
d f
h
C
f L
A
l
f
'
sta
s
e
to account
or
un
s rece
ve
rom t
e
ounty o
os
nge
es
or street
construction and maintenance projects.
,
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. 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.
NARCOTICS SEIZURE FUND
h
C
b
h
d
f
h
f
d
i
d f
f L
A
l
f
,
s rece
rom t
e
os
lis
e
to account
or t
e
un
ve
ounty o
nge
es
rom
Esta
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
'
detetection programs.
35
SPECIAL REVENUE FUNDS (cont'd)
' R. Z'BERG/HARRIS GRANT FUND
' Established to account for a state grant for preapproved park projects.
CALIFORNIA WILDLIFE GRANT FUND
' Established to account for a state grant for preapproved specified park projects.
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CITY OF ROSEMEAD, CALIFORNIA
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
June 30, 1991
ASSET'S
Cash and cash investments
Receivables
Total Assets
Traffic State
Safety Gas Tax
Local
Public
,
Trans-
Trans-
portation
Fund
portation
Fund
'
- $124,183 $42,513 $725,057 '
6,423 8,182 - 40,463
$6,423 $132,365 $42,513 $765,520 '
TJABILITIFS AND FUND BALANCES
,
Liabilities:
Accounts payable
-
$48,132
$21,899
Due to other funds
6,423
-
-
Due to other governmental agencies
-
-
'
Total Liabilities
$6,423
$48,132
- $21,899
'
Fund Balance:
Undesignated
-
84,233
42,513 743,621
'
Total Liabilities and Fund Balances
$6,423
$132,365
$42,513 $765,520
37
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Community 1976 Community
Development Parklands Street
Block Grant Grant Lighting
Narcotics California
Seizure Wildlife
Fund Fund 1991
$234,462 $48,200 $197,244 $71,361 $830 $1,443,850
326,350 - - 1,036 - 382,454
$560,812 $48,200 $197,244 $72,397 $830 $1,826,304
Totals
$1,287,220
302,206
$1,589,426
73,413
- 41,056
830 185,330
230,178
243,563
- -
- 249,986
186,972
243,836
- -
- 243,836
174,867
$560,812
- $41,056 -
$830 $679,152
$592,017
-
48,200 156,188 72,397
- 1,147,152
997,409
$560,812
$48,200 $197,244 $72,397
$830 $1,826,304
$1,589,426_
38
REVENUES:
Special assessments
intergovernmental
Fines, forfeiture and penalties
Use of money and property
Total Revenues
EXPENDITURES:
Current:
General government
Public safety
Public works
Public recreation
Community services
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
FUND BALANCE, ENDING
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES
Fiscal Year Ended June 30, 1991
County Local Public
Traffic State Aid to Trans- Trans-
Safety Gas Tax Cities portation portation
- 720,792 - 13,874 526,445
84,581 - - - -
- 5,175 6,683 2,431 56,244
$84,581 $725,967 $6,683 $16,305 $582,689
84,681 -
641,734
$84,581 $641,734
- $84,233
$20,378
29,738
496,616
14,472
- $561,104
$6,683 $16,305 $21,585
(87,816)
($87,816)
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Development
Block Grant
Fund
-1
518,683
$518,683 t
$60,267 '
115,000 '
352,789-
'
-1528,056
($9,373)
-1
-1
$84,233 ($81,133) $16,305 $21,585 ($9,373) '
- 81,133 26,208 722,036 9,373
$84,233 - $42,613 $743.621
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1976 Community
Parklands Street Narcotics
Grant Lighting Seizure
$347,061
- 14,043
3,668 - 5,480
$3,668 $347,061 $19,523
R. VBerg
Harris California -
Grant Wildlife Totals
- - $347,061
$303,374
- - 1,793,837
1,603,100
- - 84,581
204,245
- - 79,681
83,050
- - $2,305,160
$2,193,769
- - $200
-
-
$80,845
$11,512
- 249,769 -
-
-
334,350
391,738
- - -
-
-
756,734
1,359,476
- - -
-
4,425
34,163
12,940
- - -
-
-
849,305
270,323
- - 1,921
9,000
7,020
32,413
15,638
- 1249,769 $2,121
$9,000
$11,445
$2,087,810
$2,061,627
$3,668 $97,292 $17,402
($9,000)
($11,445)
$217,350
$132,142
8,764 11,446 20,209 75,307
- - (87,816) -
$8,764 $11,445 ($67,607) $75,307
$3,668 $97,292 $17,402
44,532 58,896 54,995
$48 200 $156,188 $72,397
($236) - $149,743 $207,449
236 - 997,409 789,960
{1,147,152 $997,409
40
,
CITY OF ROSEMEAD, CALIFORNIA
TRAFFIC SAFETY FUND
'
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
'
Over
(Under)
Budget Actual
Budget
1990
REVENUES:
'
Fines, forfeiture and penalties $180,000 $84,581
($95,419)
$136,972
Total Revenue $180
000 $84
581
95
,
,
,
,419)
$136,972
'
EXPENDITURES:
Public safety $180,000 $84,581
($95,419)
$136,972
T
t
l E
di
,
o
a
xpen
ture $180,000 $84,581
($95,419)
$136,972
Revenue over (under) expenditures - -
-
t
FUND BALANCE, BEGINNING 30,000
(30,000)
'
FUND BALANCE, ENDING $30,000
($30,000)
41
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CITY OF ROSEMEAD, CALIFORNIA
STATE GAX TAX FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
Over
(Under)
Budget
Actual
Budget
1990
REVENUES:
Intergovernmental $608,000
$720,792
$112,792
$641,601
Use of money and property 12,000
5,175
($6,825)
4,468
Total Revenue $620,000
$725,967
$105,967
$646,069
Public Works
$663,910
$641,734
($22,176)
$721,376
Total Expenditure
$663,910
$641,734
($22,176)
$721,376
Revenue over (under) expenditures
($43,910)
$84,233
$128,143
($75,307)
OTHER FINANCING SOURCES (USES):
Operating transfers: _
From other funds
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$43,910
$75,307
$84,233 $84,233
$84,233 $84,233
42
CITY OF ROSEMEAD, CALIFORNIA
COUNTY AID TO CITIES FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
Over
(Under)
Budget Actual Budget
REVENUES:
Intergovernmental $155,000 (155,000)
Use of money and property 5,000 6,683 1,683
Total Revenue $160,000 $6,683 ($153,317)
PENDYTURFS:
Public works $155,000 ($155,000)
Total Expenditure $155,000 ($155,000)
Revenue over (under) expenditures ($5,000) $6,683 ($1,683)
OTHER FINANCING SOURCES (USES):
Operating transfers:
(To) other funds ($87,816)
Revenue and other financing sources
over (under) expenditures $5,000 ($81,133)
FUND BALANCE, BEGINNING 74,269 81,133
FUND BALANCE, ENDING $79,269 $0
43
($87,816)
($86,133)
6,864
($79,269)
i
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1990
1
6,864
i
$6,864
-
i
$6,864
i
i
$6,864
1
74,269
1
$81,133
1
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1
1
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CITY OF ROSEMEAD, CALIFORNIA
LOCAL TRANSPORTATION FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
Over
(Under)
Budget Actual Budget 1990
Intergovernmental
$30,500
$13,874
($16,626)
$13,440
Use of money and property
3,000
2,431
(569)
3,497
Total Revenue
$33,500
$16,305
($17,195)
$16,937
EXPENDITURES:
Public works
$31,000
-
($31,000)
$50,400
Total Expenditure
$31,000
-
($31,000)
$50,400
Revenue over (under) expenditures
($2,500)
$16,305
($13,805)
($33,463)
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds (To) other funds
-
-
Revenue and other financing sources
over (under) expenditures
$2,500
$16,305
$13,805
($33,463)
FUND BALANCE, BEGINNING
25,111
26,208
1,097
59,671
FUND BALANCE, ENDING
$27,611
$42,513
$14,902
$26,208
44
CITY OF ROSEMEAD, CALIFORNIA
PUBLIC TRANSPORTATION FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
REVENUES:
Intergovernmental
Use of money and property
Total Revenue
EXPENDITURES:
Current:
General government
Public works
Public recreation
Community.. services
Capital outlay
Total Expenditure
Over
(Under)
Budget Actual Budget
$546,200
40,000
$526,445
56,244
$582,689
($19,755)
16,244
($3,511)
$29,290
16,300
563,240
Revenue over (under) expenditures ($22,630)
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds (To) other funds
Revenue and other financing sources
over (under) expenditures ($22,630)
FUND BALANCE, BEGINNING 583,204
FUND BALANCE, ENDING $560,574
45
$20,378
22,718
496,516
21,492
$561,104
$21,585
$21,585
722,036
$743,621
($8,912)
6,418
(66,724)
21,492
($47,726)
$44,215
$44,215
138,832
$183,047
1
1
1990
$542,286
61,093
$603,379
476,938
$476,938
$126,441
$126,441
595,595
$722,036
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CITY OF ROSEMEAD, CALIFORNIA
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
Over
(Under)
Budget
Actual
Budget
1990
REVENUES:
Intergovernmental
$877,790
$518,683
($359,107)
$392,597
Total Revenue
$877,790
$518,683
($359,107)
$392,597
EXPENDITURES:
Current:
General government
$101,000
$60,267
(40,733)
$11,512
Public works
45,000
115,000
70,000
110,762
Community services
731,790
352,789
(379,001)
270,323
Total Expenditure
$877,790
$528,056
($349,734)
$392,597
Revenue over (under) expenditures -
($9,373)
$9,373
-
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds (To) other funds
Revenue and other financing sources
over (under) expenditures - ($9,373) ($9,373) -
FUND BALANCE, BEGINNING 30,249 9,373 (20,876) 9,373
FUND BALANCE, ENDING $30,249 ($30,249) $9,373
46
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1990
1
3,768 i
$3,768
1
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($3,768) i
1
$3,768
40,764 i
$44,532 i
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CITY OF ROSEMEAD, CALIFORNIA
1976 COMMUNITY PARKLANDS GRANT FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
REVENUES:
Intergovernmental
Use of money and property
Total Revenue
Budget Actual
$20,000 -
- 3,668
$20,000 $3,668
Over
(Under)
Budget
(20,000)
3,668
($16,332)
EXPENDITURES:
Public recreation $20,000 ($20,000)
Total Expenditure $20,000 ($20,000)
Revenue over (under) expenditures - $3,668 ($3,668)
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds (To) other funds - -
Revenue and other financing sources
over (under) expenditures - $3,668 $3,668
FUND BALANCE, BEGINNING 40,764 44,532 3,768
FUND BALANCE, ENDING $40,764 $48,200 $7,436
47
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CITY OF ROSEMEAD, CALIFORNIA
STREET LIGHTING FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
Over
(Under)
Budget Actual Budget 1990
REVENUES:
Special assessments $311,200 $347,061 $35,861 $303,374
Total Revenue $311,200 $347,061 $35,861 $303,374
EXPENDITURES:
Current:
Public safety $295,000 $249,769 ($45,231) $254,766
Total Expenditure $295,000 $249,769 ($45,231) $254,766
Revenue over (under) expenditures $16,200 $97,292 $81,092 $48,608
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds (To) other funds - -
Revenue and other financing sources
over (under) expenditures $16,200 $97,292 $81,092 $48,608
FUND BALANCE, BEGINNING 12,688 58,896 46,208 10,288
FUND BALANCE, ENDING $28,888 $156,188 $127,300 $58,896
a8
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CITY OF ROSEMEAD, CALIFORNIA
NARCOTICS SEIZURE FUND
' .
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
Budget
REVENUES:
Intergovernmental
Use of money and property
Total Revenue
Current:
General government
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
FUND BALANCE, ENDING
49
Over
(Under)
'
Actual
Budget
1990
1
$14,043
$14,043
$67,273
5,480
$5,480
3,360
$19,523
$14,043
$70,633
1
$200
$200
-
1,921
$1,921
15,638
$2,121
$2,121
$15,638
$17,402
($11,922)
$54,995
$17,402
$11,922
$54,995
54,995
54,995
-
$72,397
$72,397
$54,995
'
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1
1
1
1
1
1
CITY OF ROSEMEAD, CALIFORNIA
R. Z'BERG HARRIS FUND
STATEMENT OF REVENUE, EXPENDITUR
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
REVENUES:
Intergovernmental
Total Revenue
Budget
$26,250
$26,250
EXPENDITURES:
Capital outlay
Total Expenditure
Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers: _
From other funds
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
$26,250
$26,250
50
Over
(Under)
Actual Budget 1990
($26,250) $13,176
($26,250) $13,176
$9,000
($17,250)
$12,940
$9,000
($17,250)
$12,940
($9,000)
$9,000
$236
$8,764 $8,764
($236)
236
($236)
$236
$236
'
CITY OF ROSEMEAD, CALIFORNIA
CALIFORNIA WILDLIFE FUND
,
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
'
1
Over
(Under)
'
Budget Actual
Budget
1990
REVENUES:
'
Intergovernmental $139,000
($139,000)
Total Revenue $139
000
$139
000
'
,
-
(
,
)
'
EXPENDITURES:
Public recreation $139,000 $11,445
($127,555)
T
t
l E
di
,
o
a
xpen
ture $139,000 $11,445
($127,555)
Revenue over (under) expenditures ($11,445)
($11,445)
,
OTHER FINANCING SOURCES (USES):
Operating transfers: _
From other funds
Revenue and other financing sources
over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE ENDING
$11,445 $11,445
51
- - 1
1
1
1
1
1
1
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 with in the Redevelopment Agency.
Budget-to-actual comparisons are not presented for the capital projects fund since the
budgeted appropriations relate to all future appropriations as well as current year
appropriations.
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CITY OF ROSEMEAD, CALIFORNIA
CAPTIAL PROJECTS FUND
BALANCE SKEET
June 80, 1991
1991
1990
ASSETS
Cash and cash investments
Other investments
Receivables
Total Assets
$3,157,519
7,123,147
320,810
$10,601,476
$3,803,232
8,366,402
1,072,143
$13,241,777
LIABILITIES AND MUNICIPAL EQUITY
liabilities:
Accounts payable and accrued liabilities
Due to City of Rosemead
Total liabilities
Municipal Equity and Other Credits:
Fund Balance:
Unreserved:
Designated for capital projects
Total Fund Balance
Total Liabilities, Municipal Equity and Other Credits
54
$992,225
$448,958
169,934
168,896
$1,162,159
$617,854
9,439,317
$9,439,317
12,623,923
$12,623,923
$10,601,476 $13,241,777
CIT
'
Y OF ROSEMEAD, CALIFORNIA
CAPITAL PROJECTS
FUND
'
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
- BUDGET AND ACTUAL
Fiscal Year Ended June
30, 1991
'
,
1991
1990
REVENUES:
Property tax increment
$3,059,892
$3,204,232
Interest
817,037
1,223,582
Other
95,169
95,842
'
Total Revenue
$3,972,098
$4,523,656
EXPENDITURES:
'
Current:
Improvements to project area
$4,585,062
$6,421,291
Professional fees
33,867
28,024
'
City administrative services
522,158
274,114
Intergovernmental
-
$334,705
,
Total Expenditures
$5,141,087
$7,058,134
R
d
di
evenue over (un
er) expen
tures
($1,168,989)
($2,534,478)
OTHER FINANCING SOURCES (USES):
,
Operating transfers:
(To) other funds
(2,015,617)
(2,465,032)
'
Total Other Financing Sources (Uses)
($2,015,617)
($2,465,032)
Revenues and Other Financing
t
Sources over (under) expenditures
($3,184,606)
($4,999,510)
FUND BALANCE, BEGINNING
12,623,923
17,623,433
'
FUND BALANCE, ENDING
$9,439,317
$12,623,923
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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.
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CITY OF ROSEMEAD, CALIFORNIA
DEBT SERVICE FUND
BALANCE SHEET
June 30, 1991
1991 1990
ASSETS
Cash and investments with fiscal agent
Receivables
Total Assets
LIABILITIES AND MUNICIPAL EQUITY
Liabilities:
Accounts payable and accrued liabilities
Total Liabilities
Municipal Equity and Other Credits:
Fund Balance:
Reserved:
Debt service
Total Fund Balance
Total Liabilities, Municipal Equity and Other Credits
58
$2,668,179
$2,973,099
106,027
106,027
$2,774,206
$3,079,126
$2,774,206 $3,079,126
$2,774,206 $3,079,126
$2,774,206 13,079,126
CITY OF ROSEMEAD, CALIFORNIA
DEBT SERVICE FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE
Fiscal Year Ended June 30, 1991
1991
REVENUES:
Interest 268,350
Other 13,463
Total Revenue $281,813
Debt service:
Principal
Interest
Total Expenditures
Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES):
Operating transfers:
From other funds
Total Other Financing Sources (Uses)
Revenues and Other Financing
Sources over (under) expenditures
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
59
$1,630,000
972,350
$2,602,350
($2,320,537)
2,015,617
$2,015,617
($304,920)
3,079,126
$2,774,206
1
1990
268,778
13,462
$282,240
$1,515,000
1,101,760
$2,616,760
($2,334,520)
2,465,032
$2,465,032
$130,512
2,948,614
$3,079,126
t
'
CITY OF ROSEMEAD, CALIFORNIA
'
DEBT SERVICE FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL
Fiscal Year Ended June 30, 1991
Over
'
(Under)
Budget Actual
Budget
1990
REVENUE
$241,000 $268,350
$27,350
$268,778
Interest
- 13,463
13,463
13,462
Otter
813
$40
240
$282
$241,000 $281,813
,
,
'
EXPENDITURES
Debt Service:
000 1,630,000
630
1
-
1,516,000
,
,
Principal
972,350 972,350
-
1,101,760
'
Interest
$2,602,360 $2,602,360
-
$2,616,760
t
Revenue over (under) expenditures ($2,361,360) ($2,320,637)
$40,813
($2,334,620)
OTBER FINANCING SOURCES (USES):
Operating transfers:
350 $2,015,617
602
$2
(686,733)
$2,465,032
,
,
From other funds
Revenue and otter financing sources
920)
000 (304
(646,920)
130,512
'
,
over (under) expenditures 241,
614
948
2
FUND BALANCE, BEGINNING 3,144,610 3,079,126
(65,484)
,
,
FUND BALANCE, ENDING $3,385,610 $2,774,206
($611,404)
$3 079,126
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FIDUCIARY FUND TYPES
PENSION TRUST FUND
Established to account for the activity of the retirement plan for employees of the City
AGENCY FUND
Established to account for the assets held in trustee capacity or as an agent. The
cash being held primarily represents amounts placed on deposit for refundable permits
and performance bonds and deferred compensation plans for qualified employees.
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CITY OF ROSEMEAD, CALIFORNIA
FIDUCIARY FUNDS
COMBINING BALANCE SHEEP
June 30, 1991
' ASSETS
Cash and cash investments
Investments in deferred compensation plan
Investments in annuity contracts
Total Assets
LIABILITIES AND MUNICIPAL EQUITY
' Liabilities:
Refundable deposits
Deferred compensation
' Total Liabilities
Municipal Equity:
Fund balance, reserved for employees retirement
Total Liabilities and Municipal Equity
Pension
Agenc
y Funds
Trust
Refundable
Deferred
Totals
Fund
Deposits
Compensation
1991
1990
-
$78,204
$23,039
$101,243
$102,786
-
-
146,016
145,016
98,963
894,927
-
-
894,927
720,335
EW1,927
$78,204
$168,066
$1,141,186
$922,083
$78,204 - $78,204 78,209
- $168,055 168,055 123,539
$0 $78,204 $168,066 $246,269 $201,798
894,927 - - 894,927 720,335
$899,927 $78,204 $168,066 $1,141,186 $922,083
64
CITY OF ROSEMEAD, CALIFORNIA
ALL AGENCY FUNDS
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES
Fiscal Year Ended June 30, 1991
Balance Balnce
July 1, 1990 Additions Deductions June 30, 1991
REFUNDABLE DEPOSIT FUND:
Assets
Cash and cash investments $78,209 $18,665 $18,670 $78,204
Liabilities
Refundable deposits $78,209 $18,665 $18,670 $78,204
EMPLOYEES DEFERRED
COMPENSATION FUND:
Assets
Cash and cash investments
$24,576 -
$1,537 $23,039
Investments in deferred
compensation plan
98,963 46,053
- 145,016
Total Assets
$123,539 $46,053
$1,537 $168,055
Liabilities
Deferred compensation
$123,539 $46,053
$1,537 $168,055
65
1
ACCOUNT GROUPS
GENERAL FIXED ASSESTS 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).
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.
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CITY OF ROSEMEAD, CALIFORNIA
STATEMENT OF GENERAL FIXED ASSETS
June 30, 1991
Redevelopment
Land
Buildings and improvements
Vehicles
Furniture and office equipment
Special equipment and machinery
Other improvements
Total
City
Agency
$542,926
$2,350,308
1,971,793
1,449,574
261,091
-
286,937
280,689
464,814
-
748,492
$4,276,053
$4,080,571
68
Totals
1991
1990
$2,893,234
$2,715,734
3,421,367
2,955,316
261,091
253,872
567,626
473,133
464,814
447,107
748,492
743,099
$8,356,624
$7,588,261
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Note: The City of Rosemead does not have
i
revenue bonds, therefore the Revenue
Bond Coverage - Last Ten Fiscal Years
schedule is not included.
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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
1981-82
$ 1,969,460
$ 2,866,572 $ 1,170,287 $
27,349 $
1,023,141
1982-83
1,948,358
3,467,355 945,380
57,743
1,225,757
,
1983-84
2,180,413
3,123,134 1,180,583
85,347
1,288,242
19
4
94
9
-85
8
2,730,5
3,566,007 1,129,12
138,033
1,277,711
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
(1) General Governmental expenditures includes expenditures of the General, Special Revenue,
'
and Debt Service Fu
nds only. Operating Transfers Out have been
excluded from all years.
71
' Community
Services
$ 28,249
' 449,149
506,470
' 679,109
' 604,797
1,239,472
906,176
' 1,528,378
1,510,545
2,070,348
1
1
1
Issuance
Capital
Debt
Costs
Projects
Service
$
$
$ 1,051,569
1,050,350
163,411
1,657,169
2,043,462
1,297,837
-
1,319,863
339,240
36,184
1,912,681
-
840,338
2,640,807
123,443
2,618,539
160,397
2,602,350
Millions
$to
48
se
$4
$2
Inter-
governmental Total
$ $ 8,136,627
9,144,092
10,184, 769
11,564,045
11,042,691
16, 535, 507
15, 241, 264
7,459 20,039,703
20,942,080
20,271,039
® Public Works ® Public Safety 0 Debt Services General Govt.
® Public Recr. ® Comm. Serv. ® Misc.
72
$o
1988-87 1087-88 1988-69 1989-90 1990-91
1
CITY OF ROSEMEAD, CALIFORNI
A
'
GENERAL REVENUES BY SOURCE (
1)
ALL GOVERNMENTAL FUND TYPES
L
l
ast Ten F
isca
Years
Fiscal
Property
Special
Other
Licenses
Inter-
Year
Tax
Assessments
Taxes
and Permits
governmental
'
1981-82
$ 1,403,635
$ 168,294
$ 2,263,160
$341,411
$ 2,725,086
9
,
1
82-83
1,461,860
160,668
2,245,459
253,720
3,016,204
1983-84
2,099,410
169,845
2,397,987
261,110
3,291,717
1984-85
2,301,028
160,997
2,953,090
365,544
3,938,028
,
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
(1) Inclu
des General and Special Revenue Funds.
(2) Inclu
des Proceeds from Tax Allocation Notes.
'
73
'
Charges for
Services
$ 203,306
312,298
326,725
279,992
263,558
268,037
293,903
338,686
284,851
228,615
Fines,
Forfeitures
and Penalties
$ 263,906
324,178
342,947
318,040
313,147
444,131
449,495
477,896
524,001
355,047
Millions
$6
86
fe
$s
$2
1
$
90
® Interpovt. ® Prop. Tax Other Taxes Use of M 6 P
® Mlsc. ® Lic. 6 Permits ® Fines, For. s Pen.
Use of
Money and
Property
$ 2,094,752
1,607,829
2,041,269
2,441,046
2,311,866
1,900,145
2,621,930
2,788,346
2,389,057
1,844,552
Other
Total
$ 101,926
$ 9,565,476
142,583
9,524,799
7,140,701 (2)
18,071,711
-
12,757,765
89,719
12,085, 826
38,420
15, 940, 288
212,503
14, 053, 391
97,468
16, 505, 301
191,389
15,331,510
165,237
15, 282,199
74
1996-e7 1987-88 1988-89 lose-90 1990-91
CITY OF ROSEMEAD, CALIFORNIA
OTHER TAX REVENUES BY SOURCE
ALL GOVERNMENTAL FUND TYPES
Last Ten Fiscal Years
Fiscal
Maintenance
Real Estate
Year
District
Taxes
1981-82
$ -
$ 16,536
1982-83
-
23,386
1983-84
-
38,360
1984-85
-
39,150
1985-86
4,061
49,308
1986-87
7,300
83,170
1987-88
2,155
105,223
1988-89
2,200
147,115
1989-90
698
142,520
1990-91
1,157
62,734
Trailer Coach
Tax
Sales and
Use Tax
$ 4,746
$ 1,914,550
1, 240
1,853,771
5,260
1,961,668
1,052
2,425,925
1,351
2,339,127
3,618
2,452,123
2,656,680
2,926
2,665,676
1,334
3,205,342
4,206
3,069,138
75
1
1
1
1
1
1
1
Transient
Franchise
Occupancy
Fees
Tax
Total
$ 203,515
$ 123,813
$ 2,263,160
246,487
120,575
2,245,459
266,966
125,733
2,397,987
301,383
185,580
2,953,090
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
556,710
551,256
4,245,201
76
CITY OF ROSEMEAD, CALIFORNIA
ASSESSED VALUATIONS OF TAXABLE PROPERTY
Last Ten Fiscal Years
State Assessed
O
a
Fiscal
Personal Unitary and Operating (2)
Year
Land Improvements Property Non-unitary Property
a
1981-82
(l) $227,167,147 $283,892,384 $3,899,336
1982
83
246
372
524 321
957 4
301
927
7
2
-
,
,
,
,
,
,
-
5
1983-84
261,079,758 357,506,952 4,753,925 -
A
1984-85
(3)
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 -
a
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
(1)
Effective with fiscal year 1981-82, assessed valuations are listed at 100% of full cash
value rather than 25% as in all previous fiscal years. This change in procedure was
according to the provisions of Proposition 13 and accounts for the significantly larger
assessed valuation figures for all subsequent fiscal years.
(2)
Effective with fiscal year 1988-89, Unitary and Operating Non-unitary assessed valuation
are listed separately.
8
(3)
1984-85 Assessed Valuation detail not available.
Source:
Los Angeles County Auditor-Controller, Tax Division
8
77
8
1
'
I
'
(I
f
'
Locally Assessed
it
Net
Personal
Property
Property
Land
Improvements
Property
Total
Exemptions
Value
'
$38,355,958
$10,647,235
$563,962,060
$19,739,249
$544,222,811
!
14,877,917
10,351,170
597,831,320
20,373,635
577,457,685
17,686,006
11,771,608
652,798,249
19,081,156
633,717,093
'
708,325,166
'
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
1
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
1
NET
PROPERTY
VALUE
Millions
'
$1600-
$1400-
'
$1200-
.
$1000-
$800-
$600-
-
$400
$200-
$0
yen-ex ieex-ae less-suse-ee iesa•ee nee-u leer-se
lose-so uae-ea ieeo-ei
1
78
CITY OF ROSEMEAD, CALIFORNIA
SPECIAL ASSESSMENT LEVIES AND COLLECTIONS
LIGHTING AND MAINTENANCE DISTRICT
Last Ten Fiscal Years
Total
Total
Percentage
Assessment
Assessment
of Levy
Fiscal Year
Levy
Collected
Collected
1982-83
144,851
160,668
110.92%
1983-84
138,A50
169,8A5
122.68
1984-85
187,936
160,997
85.67
1985-86
206,704
193,097
93.42
1986-87
223,795
215,186
96.15
1987-88
250,406
241,257
96.35
1988-89
285,712
275,977
96.59
1989-90
315,287
304,072
96.44
1990-91
314,824
355,366
112.88
Note: Data for fiscal years prior to 1982-83 are not available.
79
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1
CITY OF ROSEMEAD, CALIFORNIA
COMPUTATION OF LEGAL DEBT MARGIN
June 30, 1991
Total assessed valuation
Debt limit: 3.75% of total assessed valuation
Amount of debt applicable to debt limit:
Total bonded debt
Less tax allocation notes exempt by law
Total amount of debt application
to debt limit
Legal debt margin
8o
$10,365,000
10,365,000
$ 1,493,702,235
$ 56,013,834
0
$ 56,013,834
CITY
-OF ROSEM
EAD, CALIFORNIA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURE
1
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
Expenditure
Expenditure
1981-82
$ 323,847
$ 865,000
$1,188,847
$ 8,136,627
14.61
1982-83
910,000
140,350
1,050,350
9,144,092
11.491
1983-84
1,310,000 (2)
329,169
1,639,169
10,184,769
16.09
1984
85
1
570
000
473
462
2
043
462
11
4
4
1
-
,
,
,
,
,
,56
,0
5
17.67
1985-86
875,000
404,000
1,279,000
11,042,691
11.581
1986-87
950,000
346,875
1,296,875
16,535,507
7.84
1
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
13.161
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
(1) Includes all Governmental Fund
Types.
(2) Premium for clefeasement of bonds not included.
1
81
t
1
1
1
1
TOTAL BONDED DEBT TO
TOTAL GENERAL EXPENDITURES
Millions
s12
$t0
M Total Gent. E
s8
Total Sonclei
se
34
$2
s0
1981-82 1982-83 1983-84 1984-86 1986-88
Millions
$25
$20
$15
$10
$5
s0
1988-87 1987-88 1988-89 1989-90 1990-91
82
CITY OF ROSEMEAD, CALIFORNIA
PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS
(Per $100 of Assessed Valuation)
Last Ten Fiscal Years
Los
Los Angeles County
Fiscal
City of
Angeles
School Water
Flood
Sanitation
Year
Rosemead
County
Districts Districts
Control
District
Total
1981-82
0
1
000827
317126 0
104200
0
027019
0
0
001331
1
450503
.
.
.
.
.
.
1982-83
0
1.000604
0.295449 0.110918
0.023521
0.001204
1.431696
1
1983-84
0
1.000649
0.255128 0.111114
0.017284
0.001126
1.385301
1984-85
0
1.000578
0.176862 0.134921
0.015867
0.000989
1.329217
1985-86
0
1.000442
0.166341 0.102660
0.016081
0.000875
1.286399
O
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
109700 0
048900
0
006944
0
0
1
167786
'
-
.
.
.
.
.
1990-91
0
1.002104
0.072543 0.061533
0.005786
0
1.141966
'
,
Source:
Tax Rates By
Tax Rate Areas, Los Angeles County Tax Collector
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83
'
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CITY OF ROSEMEAD, CALIFORNIA
SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT
June 30, 1991
1990-91 Assessed Valuation: $1,145,658,427 (after deducting $230,716,543
redevelopment tax allocation increment
Direct and Overlapping Bond Debt:
Los Angeles County
Los Angeles County Building Authorities
Los Angeles County Superintendent of Schools
Los Angeles County Flood Control District
Los Angeles County Flood Control District
Certificates of Participation
Metropolitan Water District
Los Angeles Community College District
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
City of Rosemead
Total Direct and Overlapping Debt:
Ratios to Assessed Valuations: Direct Debt
Total Debt
% Applicable
0.299 %
0.299
0.299
0.314
0.314
0.166
0.270
2.309
13.101
0.005
100.000
0%
0.75
I Share of Authorized and Unsold General Obligations Bonds:
' Metropolitan Water District
Los Angeles County Flood Control District
Garvey School District
State School Building Aid Repayable as of 6/30/91
' Excludes tax allocation bonds.
Source: California Municipal Statistics, Inc.
84
$ 83,000
57,933
20,191
$ 1,753,857
Debt 6/30/91
$ 252,775
5,438,589
71,675
438,020
132,948
1,162,033
164,673
292,106
597,406
327
0 `
8,550,552
'
CITY OF ROSEMEAD, CALIFORNIA
DEMOGRAPHIC STATISTICS
'
Last Ten Fiscal Years
'
Income
Unemployment
Fiscal Year
Population
Households
Per Capita
Rate
'
(1)
(2)
(3)
(3)
1981-82
44,070
13,256
12,918
9.3 %
'
1982-83
44,914
13,350
13,427
9.7
,
1983-84
45,737
13,447
13,945
7.9
1984
85
46
208
13
500
1
11
-
,
,
5,
8
7.0
1985-86
46,627
13,510
16,058
6.7
'
1986-87
46,893
13,529
16,988
5.9
'
1987-88
47,425
13,687
17,863
5.4
1988-89
47,707
13,841
18,790
4.9
,
1989-90
51,156
13,870
19,906
4.7
'
1990-91
52,247
14,153
5.8
Source:
(1) California State Department of Finance, Office of Demographic Research
,
(2) City of Rosemead,
Planning Department
`
(3) California State Department of Finance, Finance
and Economic Research Unit
' Information presented is for the County of Los Angeles, which includes the City of Rosemead. '
Income Per Capita and Unemployment Rate specifically for the City of Rosemead is not available.
" Data not available at this time.
85
I
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1
1
1
1
1
60
♦0
90
90
10
0
eo
ao
40
30
20
10
0
DEMOGRAPHIC STATISTICS
Thousands
Thousands
g6
1081-80 1004-88 1008-84 1904-86 1086-Oa
®Income Per Capita OHousehold a EM Population
1986-87 1987-88 lose-88 10so-oo
LM Inooma Pv Capita OHOUwholds ®Populatlon
CITY OF ROSEMEAD 1
PRINCIPAL TAXPAYERS 1
June 30, 1991 1
1
Percentage
1
of Total City's
Assessed
-Assessed
Valuation
Valuation
1
Southern California Edison Company
$190,276,370
12.74 %
California Federal Savings
45,224,289
3.03
1
Chicago Title Insurance & Trust
18,723,570
1.25
CNC Plaza
5,326,848
0.36
Diamond Square
3,384,784
0.23
1
Lucky Plaza
3,150,912
0.21
San Gabriel Center
2,392,920
0.16
TraveLodge, South
2,351,303
0.15
1
ABC Plaza
2,335,987
0.15
TraveLodge, East
1,888,251
0.13
1
$275,055,234
18.41 %
1
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.
i
1
1
1
Source: I. Los Angeles County Auditor-Controller, Tax Division 1
1
87 1
'
CITY OF
ROSEMEAD, CALIFORNIA
'
SCHEDU
LE OF INSURANCE
IN FORCE
'
June 30, 1991
Policy
Expiration
Number
Date
Type of Coverage
'
Southern California Joint Powers
Insurance Authority
07/01/92
General Liability
'
State Compensation Insurance Fund
228962-90
12/31/91
Workers Compensation
Coverage
'
Kelley, Jiggins, Towle & Blue
05743382
10/10/92
Public Employees
Blanket Bond
'
Kelley, Jiggins, Towle & Blue
9922993-03
10/19/92
Boiler and Machinery
Kelley, Jiggins, Towle & Blue
2781 100
10/10/92
Notary Public Bond
Error & Ommissions
'
Kelley, Jiggins, Towle & Blue
CP81 19571 C
07/01/92
Property Insurance
'
Source: City Finance Department
'
88
'
CITY OF ROSEMEAD, CALIFORNI
A
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 Iss
I
1981-82
37
3,849,223 44,277,710
48,126,933
369
t
1982-83
37
5,166,668 8,499,444
13,666,112
466
'
1983-84
60
3,903,558 9,678,541
13,582,099
569
1984-85
152
6,091,723 13,450,688
19,542,411
581
'
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
727
'
89
i
'
CITY OF ROSEMEAD, CALIFORNIA
'
MISCELLANEOUS STATISTICS
June 30, 1991
l
l
f
l
d
Cit
f L
l
i
il
f
h
i
y o
y n
ne m
es east o
t
e
os
in Los Ange
es County, Ca
i
ornia approx
mate
ocate
The City of Rosemead is
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
s 5.5 square miles.
acres within he City
Population
52,247
'
Land Area
5.5 square miles
Streets & Alleys
74.42 miles
Parks
50 acres
'
Percentage of Land Use:
Residential
64 %
'
Public Facilities
Commercial (stores & shops)
14
9
Mixed Commercial/Residential
7
Office & Light Industrial
6
100 %
'
Public Facilities:
Community Centers
2
Swimming Pools
2
Libraries
2
Gymnasiums
1
Ball Diamonds (lighted)
4
t
Tennis Courts (lighted)
5
Education Facilities:
Elementary Schools
10
'
Secondary Schools
3
High Schools
2
'
Fire Pprotection: '
Number of firefighters and officers
36
Polic Protection: "
'
Parking Control (personnel)
3
Police Protection (sworn personnel)
32
'
Major Employers and Number of Employees:
Southern California Edison Company
4,150
California Federal Savings
1,100
'
Hoffman Electric
1,040
Sargent-Fletcher
680
Ball Corporation
600
Chicago Title
500
'
Crown City Plating
450
Sirena
425
'
The City of Rosemead is part of the Los Angeles County Fire Protection District which provides fire fighting, fire
prevention, and plan check services for the City.
The City of Rosemead contracts with the Los Angeles County Sheri
ff's Department for all police services with the
exception of parking control which is provided by City personnel.
90
a
o Pasad n
Los Angeles
Llbog Bea
of
EAD
■ San Bernardino
Riverside
naheim
0
15 1
San Ditg
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 mas of 5.5 square miles with
,an approximate population of 52,247. F-r-
ni I
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