1991 City Financial ReportI
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CITY OF ROSEMEAD, CALIFORNIA
FINANCIAL REPORT
YEAR ENDED JUNE 30, 1991
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CONTENTS
' INDEPENDENT AUDITORS' REPORT
1
' GENERAL PURPOSE FINANCIAL STATEMENTS
'
Combined balance sheet, all fund types and account groups
2
Revenue detail - budget and actual
Combined statement of revenue, expenditures and changes
'
in fund balances, all governmental fund types
Combined statement of revenue, expenditures and changes
3
in fund balances - budget and actual - general,
Combining balance sheet
23
special revenue and debt service fund types
4
Statement of revenue, expenses and changes in fund balance,
24
pension trust fund
5
Statement of cash flows, pension trust fund
6
'
Notes to financial statements
7-20
' SUPPLEMENTARY INFORMATION
General Fund:
Revenue detail - budget and actual
21
Expenditure detail - budget and actual
22
' Special Revenue Funds:
Combining balance sheet
23
Combining statement of revenue, expenditures
and changes in fund balances
24
Combining balance sheet, fiduciary funds
25
Combining statement of changes in assets and liabilities,
' all Agency funds
26
Graphs:
' Composition of general fund revenue
General fund revenue - budget and actual
27
28
Governmental funds expenditures
29
General fund revenue
30
' To the Honorable Mayor and Members
' of the City Council
City of Rosemead
Rosemead, California
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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McGLADREY & PULLEN
Certified Public Accountants and Consultants
'
INDEPENDENT AUDITORS' REPORT
' To the Honorable Mayor and Members
' of the City Council
City of Rosemead
Rosemead, California
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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GENERAL PURPOSE FINANCIAL STATEMENTS
CITY OF ROSEMEAD, CALIFORNIA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1991
R
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 raced assets
Fund balance:
Reserved:
Long -term receivable
Debt service
Employees retirement
Unreserved:
Designated for capital projects
Undesignated
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 Projects
$ 1,663,683 $ 1,443,850 $ 3,157,519
4,685,872 7,123,147
1,459,626 382,454 320,810
419,920 - -
8,229,101 $ 1,826304 $ 10,601476
$ 1,294,279 $ 185,330 $ 992,225
- 249,986 169,934
243,836 -
10,911
$ 1,305,190 $ 679,152 $ 1,162,159
$ - $ - $
626,008
- - 9,439,317
6,297,903 1,147,152
$ 6,923,911 $ 1,147,152 $ 9,439317
8,229,101 $ 1,826304 $ 10,601,476
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Governmental
Fiduciary
Total
Fund Types
Fund Types
Account Groups
(Memorandum Only)
Trust
General
General
Debt
and
Fined
Long -Term
Service
Agency
Assets
Debt
1991
1990
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$
$ 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
7.678183
8,983.303
$ 2,774-206
$ 1,141,186
$ 8 356 624
$ 10,452,489
$ 43.381.386 $
48.211,061
'
$ _
$
$ _
$ _
$ 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
77.587
$
$ 246Z9
$
$ 10,452,489
$ 13 845149 $
14,619.665
'
$
$
$ 8,356,624
$ -
$ 8,356,624 $
7,588,261
626,008
626,486
2,774,206
-
2,774,206
3,079,126
-
894,927
894,927
720,335
'
-
9,439,317
12,623,923
7.445,055
8.953.265
$ 2-774,206
$ 894,927
$ 8,356,624
$
$ 29 536137 $
33-591,396
'
$ 2774.206
$ 1,141,186
$ 8356.624
$ 10.452,489
1 43381386 $
48.211.061
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CITY OF ROSEMEAD, CALIFORNIA
COMBINED 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
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 and other financing uses
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
See Notes to Financial Statements.
Governmental Fund Types
Special Capital
General Revenue Proiects
$ -
$ 347,061
$ 3,059,892
4,245,201
-
-
479,084
-
1,804,330
2,763,673
1,793,837
849,305
228,615
-
270,466
84,581
-
679,484
79,681
817,037
56,605
95,169
$ 8,723,128
$ 2305,160
$ 3972,098
$ 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 $ 2087,810 $ 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 997409 12,623,923
$ 6,921911 $ 1,147,152 $ 9,439317
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1,630,000 1,630,000 1,516,728
972,350 972,350 1,101811
$ 1602.350 350 $ 20280,413 $ 20,942,080
$ (2,320,537) $ (4,998214) _$ (5,610,570)
$ 2,015,617 $ 2,123,642 $ 2,540,339
(2,123,642) (2,540,339)
$ 2015617 $ $ -
$ (304,920) $ (4,998,214) $ (5,610,570)
3,079,126 25282 800 30.893370
$ 2,774,206 $ 20284,586 $ 25,282,800
Governmental
Total
Fund Tvoes
(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
355,047
284,851
524,001
268,350
1,844,552
2,389,057
13-463
165,237
191,389
281,813
$ 15282,199 $
15,331,510
$
$ 2,215,912 $
1,712,102
3,994,221
3,809,631
6 ,374,969
8,536,328
1,014 ,349
1,838,493
856,298
1,775,194
2,079,722
1,510,545
160,397
123,443
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1,630,000 1,630,000 1,516,728
972,350 972,350 1,101811
$ 1602.350 350 $ 20280,413 $ 20,942,080
$ (2,320,537) $ (4,998214) _$ (5,610,570)
$ 2,015,617 $ 2,123,642 $ 2,540,339
(2,123,642) (2,540,339)
$ 2015617 $ $ -
$ (304,920) $ (4,998,214) $ (5,610,570)
3,079,126 25282 800 30.893370
$ 2,774,206 $ 20284,586 $ 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 takes 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.
General Fund
Over
(Under)
Budget Actual Bud eg t
$ 1,672,057 $ 1,579,042 $ (93,015)
3,634,430
3,659,871
25,441
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)
1 462 224 $ (1,658,431) $ (196,2071
8,582,342
L±923911
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Special
Revenue
Debt Service
Over
Over
(Under)
(Under)
'
Budget
Actual
Budget
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
$ 2.953.940
$
2. 305.160
$ (648.780
$ 241.000
$ 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
'
-
-
-
972350
972.350
$ 2. 996.780
$
2.087.810
$ (908.970
$ 2.602.350
$ 2.602.350
$
$ (42.840)
$
217.350
$ 260.190
$ (2.361.350)
$ (2,320.537)
$ 40.813
$ -
$
20,209
$ 20,209
$ 2,602,350
$ 2,015,617
$ (586,733)
-
$ -
$
(67,607)
$ (67.607
$ 2.602.350
$ 2.015.617
$ (586.733)
(42.840)
$
149,743
$ 192.583
$ 241,000
$ (304,920)
(545.920)
i 997.409
3.079.126
1.147.152
$ 2.774.206
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' CITY OF ROSEMEAD, CALIFORNIA
' STATEMENT OF REVENUE, EXPENSES AND
CHANGES IN FUND BALANCE
' PENSION TRUST FUND
Year Ended June 30, 1991
Operating revenue:
Contributions
Interest and other investment income
Operating expenses:
' Administrative fees
Pension benefits
Net income
FUND BALANCE, BEGINNING
' FUND BALANCE, ENDING
See Notes to Financial Statements.
5-
$ 137,411
61.493
$ 198.904
$ 4,866
19.446
$ 24.312
$ 174,592
720.335
$ 894.927
CITY OF ROSEMEAD, CALIFORNIA
' STATEMENT OF CASH FLOWS
PENSION TRUST FUND
' Year Ended June 30, 1991
CASH FLOWS FROM OPERATING ACTIVITIES
Net income
Adjustments to reconcile net income to net cash provided by
operating activities:
Interest income
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of annuity contracts
Proceeds from the sale and maturity of annuity contracts
' Interest received on annuity contracts
Net cash (used in) investing activities
CASH AND CASH EQUIVALENTS, beginning
' CASH AND CASH EQUIVALENTS, ending
See Notes to Financial Statements.
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$ 174,592
(61.493)
S 113.099
$ (198,904)
24,312
61.493
S (.113.099)
CITY OF ROSEMEAD, CALIFORNIA
' NOTES TO FINANCIAL STATEMENTS
' Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups and
' Souf ant 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:
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' NOTES TO FINANCIAL STATEMENTS
1 Note 1. Reportmg Entity, Nature of Opemtions, Description of Funds and Account Groups mid
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
t as follows:
The Tn#Tw 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.
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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 R. Z'Berg/Harris 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.
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' NOTES TO FINANCIAL STATEMENTS
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' Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups and
Sigmfrcmtt 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.
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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.
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NOTES TO FINANCIAL STATEMENTS
Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups and
SWufu ant Accounting Policies, Continued
O MMIT
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.
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
t 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.
- 11 -
' NOTES TO FINANCIAL STATEMENTS
' Note 1. Reporting Entity, Nature of Operations, Description of Funds and Account Groups and
Signi kart 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.
1
1
1 -12-
' 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.
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
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.
- 13 -
Li
1
NOTES TO FINANCIAL STATEMENTS
Note 3. Cash and Investments, 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 Type 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
6,764,774 6.764.774 6,770.409
$ 614,240 $ - $ 6.764.774
$ 7,379,014 $
7,401,872
450,005
417,166
3.980.000
3.980.000
$11.809.019 $11.799.038
The three preceding risk description categories are defined as follows:
Cate 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
-14-
I
I
I
NOTES TO FINANCIAL STATEMENTS
Note 4 Receivables
Receivables as of June 30, 1991 consist of the following:
Property tax increment
Accrued interest
Due from local utility companies (A)
Due from other governmental
agencies
Transient occupancy tax
Other
Special Capital Debt
General Revenue Projects Service Total
$ - $ 200,217 $ - $ 200,217
89,591 - 120,593 106,027 316,211
626,008 - - - 626,008
547,000 382,454 929,454
142,109 - 142,109
54,918 54.918
$1,459,626 $ 382,454 $ 320,810 $ 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.
15-
I
NOTES TO FINANCIAL STATEMENTS
Note 5. Interf ind Receivables and Payables
Interfund receivables and payables as of June 30, 1991 are as follows:
Funds
Interfund
Receivables Payables
General Fund
$ 429,294 $
1
1
' - 16 -
Special Revenue Funds:
'
Traffic Safety
$
$ 6,423
Community Development Block Grant
252,937
$ -
$ 259,360
Capital Projects Fund
$ -
$ 169,934
$ 429,294
$ 429,294
Note 5 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
Vehicles
2,955,316
253,872
466,051
7,219
3,421,367
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
1
' - 16 -
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. 'Be 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 8. Long-Ter m 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.
-17-
' NOTES TO FINANCIAL STATEMENTS
1
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) (1,630,000)
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:
Tax
Years Allocation
Ending Notes
June 30. Series 1987 Interest Total
I
1
-18-
1992
$ 1,760,000
$ 828,617
$ 2,588,617
1993
1,900,000
669,813
2,569,813
'
1994
1995
2,055,000
2,230,000
496,781
309,312
2,551,781
2,539,312
1996
2,420,000
105,875
2,525,875
10,365,000
$ 2,410,398
$12,775,398
I
1
-18-
' NOTES TO FINANCIAL STATEMENTS
' Note 9. Budget Ovefrpenditurns
Expenditures exceeded appropriations for the year ended June 30, 1991 in the following
' special revenue fund:
Amount of
Over-
, AAporopriation Expenditures expenditures
Narcotics Seizure Fund $ - $ 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.
- 19 -
' NOTES TO FINANCIAL STATEMENTS
'
Note]]. 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.
-20-
I
1
1
1
C
11
SUPPLEMENTARY INFORMATION
I
F
11
CITY OF ROSEMEAD, CALIFORNIA
REVENUE DETAIL - BUDGET AND ACTUAL
GENERAL FUND
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
INTERGOVERNMENTAL
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
FETSIM 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
Repa to and sale of City property
Miscellaneous
Total revenue
1991 1990
Over
(Under)
Budget Actual Budget Actual
$ 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
556,710
28,710
494,223
450,000
551,256
101.256
332.140
$ 4,077,000
$ 4,245,201 $
168,201
$ 4.176.257
$ 34,500 $
32,830 $
(1,670) $
33,073
498,000
416,084
(81,916)
488,290
14,000
12,249
(1,751)
9,138
5,000
17.921
12.921
2.549
$ 551,500 $
479,084 $
(72,416) $
533.050
$ 3,654,100 $ 2.763.673 $ (890,427) $ 2,108.603
$ 10,000 $
$ $
(2 ,320) $
$ 169,720
-
17,677
17,677
-
200,000
92,861
(107,139)
150,139
1,737,500
1,865,271
127,771
1,689,632
840
814
(26)
773
85,000
75,408
(9,592)
82,839
1,630,760
711,642
(919,118)
$ 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
$ 679,484 $
(1
300
215,375
168,848
(46,527)
170,061
17,000
3,021
(13.979)
18.133
$ 349.075 $
228,615 $
(120,460) 1
281851
$ 300,000 $ 270,466 $ (29.534) $ 319,756
$ 720,000
$ 669,102 $
(50,898) $
808,445
10,800
10,382
(418)
5.202
$ 730.800
$ 679,484 $
(51316) $
813,647
$ 1,000 $
145 $
(855) $
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
-21-
I
I
CITY OF ROSEMEAD, CALIFORNIA
EXPENDITURE DETAIL - BUDGET AND ACTUAL
GENERAL FUND
Year Ended June 30, 1991
GENERAL GOVERNMENT
Travel and meeting
City council
City administration
City clerk
Finance
City treasurer
City attorney
General government buildings
Community promotion
City garage
PUBLIC SAFETY
Law enforcement
Animal regulation
Parking control
Crossing guard
Emergency services
Improvements
' CAPITAL OUTLAY
DEBT SERVICE
Total expenditures
1991 1990
Over
(Under)
Budget Actual Budget Actual
$ 13,000
PUBLIC WORKS
7,406 $
Engineering and administration
'
Street construction
(1,450)
Traffic signs and striping maintenance
663,980
492,423
(171,557)
PUBLIC HEALTH, services
Improvements
' CAPITAL OUTLAY
DEBT SERVICE
Total expenditures
1991 1990
Over
(Under)
Budget Actual Budget Actual
$ 13,000
PUBLIC RECREATION
7,406 $
Administration
33,650
Parks
(1,450)
Recreation
Aquatics
663,980
492,423
(171,557)
COMMUNITY SERVICE
'
Planning
11,524
Building regulation
209,287
Engineering
'
Redevelopment
Community
Improvements
' CAPITAL OUTLAY
DEBT SERVICE
Total expenditures
1991 1990
Over
(Under)
Budget Actual Budget Actual
$ 13,000
$ 20,406 $
7,406 $
26,011
33,650
32,200
(1,450)
31,743
663,980
492,423
(171,557)
372,930
55,350
66,874
11,524
80,624
209,287
141,902
(67,385)
160,744
6,140
5,218
(922)
7,537
87,800
257,782
169,982
101,000
352,680
307 ,347
(45,333)
290,282
221,600
240,385
18,785
297,130
28570
14,505
(14,065)
30,451
$ 1,672,057
$ 1579,042 $
(93,015) $
1398,452
$ 3,439,200 $ 3,489,926 $ 50,726 $ 3,263,996
40,000
26 ,331
(13,669)
25,266
97,220
100,830
3,610
90,843
50,210
40,146
(10,064)
37,788
7,800
2,638
(5,162)
-
$ 3,634,430
$ 3,659,871 $
25,441
$ 3,417,893
$ 34,450 $ 25,504 $ (8,946) $ 38,039
1,879,760 908,097 (971,663) 93,992
89,000 99,572 10,572 288,825
$ 2,003210 $ 1,033,173 $ (970,037) $ 420,856
$ 1,044,480 $ 1,014,349 $ (30,131) $ 856,298
$ 161,460 $ 194,415 $ 32,955 $ 185,408
858,474
823,450
(35,024)
834,026
525,533
513,148
(12,385)
496,144
242850
273,317
30,467
246,676
$ 1,788317
$ 1,804330 $
16,013
$ 1,762,254
$ 260,050 $ 147,728 $ (112 ,322) $ 232,076
585,000
692,229
107,229
626,562
252,600
293,855
41,255
317,012
32,300
(32 ,300)
9,039
45,000
%.605
51,605
41,937
$ 1174,950
$ 1230,417 $
55,467
$ 1,226,626
$ 129,955 $ 127,984 $ (1,971) $ 107,805
$ $ $ $ 1,779
$11,447399 $ 10 449.166 1 (9982331 $ 9,191,963
-22-
CITY OF ROSEMEAD, CALIFORNIA
COMBINING BALANCE SHEET
SPECIAL REVENUE FUNDS
June 30, 1991
LIABILITIES AND
FUND BALANCES
LIABILITIES
Accounts payable $
- $ 48,132 $
$ 21,899
Local
Public
Community
-
Traffic
State
Trans-
Trans-
Development
agencies
Safety
Gas
portation
portation
Block Grant
ASSETS
Fund
Tax Fund
Fund
Fund
Fund
Cash and cash investments
$ -
$ 124,183
$ 42,513
$ 725,057
$ 234,462
Receivables
6,423
8182
-
40,463
326,350
Total assets
$ 6,423
$ 132,365
$ 42,513
$ 765,520
$ 560.812
LIABILITIES AND
FUND BALANCES
LIABILITIES
Accounts payable $
- $ 48,132 $
$ 21,899
$ 73,413
Due to other funds
6,423 -
-
243,563
Due to other governmental
agencies
-
243,836
Total liabilities $
6,423 $ 48,132 $
$ 21,899
$ 560,812
FUND BALANCES
- 84,233
42,513 743,621
-
Total liabilities and
fund balances $
6,423 $ 132,365 $
42,513 $ 765,520
$ 560,812
-23-
I
J
$ $ 41,056 $ $ 830 $ 185,330 $ 230,178
- - 249,986 186,972
' - - 243,836 174.867
$ $ 41,056 $ - $ 830 $ 679,152 $ 592,017
48,200 156,188 72,397 1,147,152 997.409
' $ 48,200 $ 197,244 $ 72,397 $ 830 $ 1826304 $ 1,589,426
�J
U
' 1976
Community
California
Parklands
Street
Narcotics
Wildlife
Grant
Lighting
Seizure
Grant
Totals
Fund
Fund
Fund
Fund
1991
1990
$ 48,200
$ 197,244
$ 71,361
$ 830
$ 1,443,850 $
1,287,220
-
-
1.036
-
382,454
302,206
'
$ 48.200
$ 197.244
$ 72,397_
$ 830
$ 1,826304 $
1.589.426
J
$ $ 41,056 $ $ 830 $ 185,330 $ 230,178
- - 249,986 186,972
' - - 243,836 174.867
$ $ 41,056 $ - $ 830 $ 679,152 $ 592,017
48,200 156,188 72,397 1,147,152 997.409
' $ 48,200 $ 197,244 $ 72,397 $ 830 $ 1826304 $ 1,589,426
�J
U
I
CITY OF ROSEMEAD, CALIFORNIA
COMBINING STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUNDS
Year Ended June 30, 1991
REVENUE
Special assessments $
Intergovernmental
Fines, forfeiture
and penalties
Use of money and
$ - $
720,792
13,874 526,445 518,683
t am
1
property - 5.175 6,683 2.431 56.244 - '
84.581 $ 725.967 $ 6.683 $ 16,305 $ 582,689 $ 518.683
EXPENDITURES
Current:
General
government $ $ $ $ $ 20,378 $ 60,267
Public safety 84,581 - -
Public works - 641,734 - 115,000
Public recreation - 29,738 -
Community
services - 496,516 352,789
Capital outlay - 14.472 -
R
84,581 $ 641.734 $ $ $ 561.104 $ 528.056
Revenue over
(under)
expenditures $ - $ 84,233 $ 6.683 $ 16,305 $ 21,585 $ (9373)
OTHER FINANCING
SOURCES (USES)
Operating transfers:
From other funds $ - $ $ - $ - $ $
(To) other funds - (87.816) - $
$ $ $ (87,816) $ - $ $
Revenue and
other
financing
sources over
(under)
expenditures $
FUND BALANCE,
$ 84,233 $ (81,133) $ 16,305 $ 21,585 $ (9,373) '
BEGINNING 81,133 26,208 722036 9,373
FUND BALANCE,
ENDING $ $ 84,233 $ $ 42,513 $ 743,621 $
-24-
County
Local
Public
Community
Traffic
State Aid to
Trans-
Trans-
Development
Safety
Gas Cities
portation
portation
Block Grant
Fund
Tax Fund Fund
Fund
Fund
Fund
$ - $
720,792
13,874 526,445 518,683
t am
1
property - 5.175 6,683 2.431 56.244 - '
84.581 $ 725.967 $ 6.683 $ 16,305 $ 582,689 $ 518.683
EXPENDITURES
Current:
General
government $ $ $ $ $ 20,378 $ 60,267
Public safety 84,581 - -
Public works - 641,734 - 115,000
Public recreation - 29,738 -
Community
services - 496,516 352,789
Capital outlay - 14.472 -
R
84,581 $ 641.734 $ $ $ 561.104 $ 528.056
Revenue over
(under)
expenditures $ - $ 84,233 $ 6.683 $ 16,305 $ 21,585 $ (9373)
OTHER FINANCING
SOURCES (USES)
Operating transfers:
From other funds $ - $ $ - $ - $ $
(To) other funds - (87.816) - $
$ $ $ (87,816) $ - $ $
Revenue and
other
financing
sources over
(under)
expenditures $
FUND BALANCE,
$ 84,233 $ (81,133) $ 16,305 $ 21,585 $ (9,373) '
BEGINNING 81,133 26,208 722036 9,373
FUND BALANCE,
ENDING $ $ 84,233 $ $ 42,513 $ 743,621 $
-24-
1
1
1
1976
Community
R. Z'Berg
California
Parklands
Street
Narcotics Harris
Wildlife
Grant
Lighting
Seizure Grant
Grant Totals
Fund
Fund
Fund Fund
Fund 1991 1990
$ $ 347,061 $ $ $ - $ 347,061 $ 303,374
- 14,043 - 1,793,837 1,603,100
- - 84,581 204,245
3,668 - 5,480 79.681 83.050
$ 3,668 $ 347.061 $ 19,523 $ $ - $ 2305,160 $ 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
R $ 249,769 $ 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 $ 11,445 $ 20,209 $ 75,307
(87.816)
$ $ $ 8364 $ 11.445 $ (67.607) $ 75.307
$ 3,668 $ 97,292 $ 17,402 $ (236) $ - $ 149,743 $ 207,449
44,532 58.896 54,995 236 997.409 789.960
48,200 $ 156,188 $ 72,397 $ - $ - $ 1,147.152 $ 997.409
CITY OF ROSEMEAD, CALIFORNIA
' COMBINING BALANCE SHEET
FIDUCIARY FUNDS
June 30, 1991
'
Agency
Funds
Totals
Pension
Refundable
Deferred
Trust Fund
Denosits
Compensation
1991
1990
ASSETS
'
Cash and cash
investments
$
$ 78,204
$ 23,039
$ 101,243 $
102,785
'
Investments in deferred
compensation plans
145,016
145,016
98,963
Investments in
annuity contracts
894,927
-
-
894,927
720,335
894,927
$ 78,204
$ 168,055
$ 1141.186 $
922,083
Total assets
LIABILITIES AND
'
MUNICIPAL EQUITY
LIABILITIES
Refundable deposits
$
$ 78,204
$
$ 78,204 $
78,209
Deferred compensation
168,055
168.055
123.539
'
Total liabilities
$
$ 78,204
$ 168,055
$ 246,259 $
201,748
MUNICIPAL EQUITY
Fund balance, reserved for
'
employees retirement
894,927
894,927
720,335
Total liabilities and
municipal equity
$ 894,927
$ 78,204
$ 168,055
$ 1,141.186 $
922.083
fl
1 -25-
CITY OF ROSEMEAD, CALIFORNIA
COMBINING STATEMENT OF CHANGES IN
ASSETS AND LIABILITIES
ALL AGENCY FUNDS
June 30, 1991
'
REFUNDABLE
DEPOSIT FUND
Assets
Cash and cash
'
investments
Liabilities
'
Refundable deposits
EMPLOYEES
'
DEFERRED
COMPENSATION
FUND
I
1
Beginning Ending
Balance Additions Deductions Balance
78.209 $ 18.665 $ 18.670 $ 78.204
$ 78.209 $ 18.665 $ 18.670 $ 78.204
Assets
Cash and cash
investments $ 24,576 $ - $ 1,537 $ 23,039
Investments in
deferred
compensation plans 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
1 -26-
1
1
1
1
1
1
1
i
1
1
1
1
1
1
1
CITY OF ROSEMEAD, CALIFORNIA
COMPOSITION OF GENERAL FUND REVENUE
Years Ended June 30, 1991 and 1990
Ot..l
Well
U•. st
Cll.r... PMoo, V
ror o.
B.rvlao
J/ //.
an.r n.•
a.
1990
-27-
InLt-
.rn.l.nt.l
LUOw.
.ro
hrnit. Flro./
�• rorltlt/
' tour-
aowrnsnbl
a..
U "Z'
ll......
Glsp.. Murry/
lot Fro..rty htn1Y Ft.W
a ... I... as .s tabu/
_____ 3. hn.It Y.
'
CITY OF ROSEMEAD, CALIFORNIA
'
GENERAL FUND REVENUE - BUDGET AND ACTUAL
Year Ended June 30, 1991
'
Millions
$5
$3
1
$0
Taxes Permits/ Fines/ Use of Inter- Charges for Other
Licenses Penalties Money govern. Services
Actual ® Budget
'
-28-
1
CITY OF ROSEMEAD, CALIFORNIA
GOVERNMENTAL FUNDS EXPENDITURES
Years Ended June 30, 1991, 1990 and 1989
$4
Millions
$3
$2
$1
$0 '
General Public Public
Government Safety Worka
Public Public Community Capital Debt
Health Recreation Service Outlay Service
-29-
1
i
i
1
1
1
$5
$4
$3
$1
$0
CITY OF ROSEMEAD, CALIFORNIA
GENERAL FUND REVENUE
Years Ended June 30, 1991, 1990 and 1989
Millions
Taxes Licenses Fines/ Use of Inter- Charges Other
& Permits Forfeit/ Money/ govern- for
Penalties Property mental Services
X1991 ® 1990 X1989
-30-