1990 CAFR1 a»ce - peprman 1 t CITY OF ROSEMEAD ~ California 1 1 1 1 1 11 1 i i 1 1 COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 309 1990 1 1 1 I 0 1 C 1 1 1 1 I I I~ CITY OF ROSEMEAD, CALIFORNIA COMPREHENSIVE ANNUAL FINANCIAL REPORT Fiscal Year Ended June 30, 1990 TABLE OF CONTENTS Page Letter of Transmittal i - ix List of Principal Officials x Organization Chart xi Certificate of Award for Outstanding Financial Reporting xii Independent Auditors' Report 1 ; General Purpose Financial Statements: Combined Balance Sheet - All Governmental Fund Types and Account Groups 2 and 3 - Combined Statement of Revenue, Expenditures and Changes in Fund Balances - All Governmental Fund Types 4 and 5 Combined Statement of Revenue, Expenditures and Changes in. Fund Balances - Budget and Actual - General, Special Revenue, and Debt Service Fund Types 6 and 7 Combined Statement of Revenue, Expenditures and Changes in Fund Balances - Pension Trust Fund B Combined Statement of Changes in Financial Position - Pension Trust Fund 9 Notes to Financial Statements 10 - 19 General Fund: Revenue Detail - Budget and Actual 20 and 21 Expenditure Detail - Budget and Actual 22 and 23 Special Revenue Funds: Combining Balance Sheet 24 and 25 Combining Statement of Revenue, Expenditures and Changes in Fund Balances 26 and 27 TABLE OF CONTENTS (continued) Pane General Governmental Expenditures by Function - Last Ten Fiscal Years 28 and 29 General Revenues by Source - Last Ten Fiscal Years 30 and 31 other Tax Revenues By Source - Last Ten Fiscal Years 32 and 33 Combining Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - All Special Revenue Fund Types 34 - 41 Assessed Valuations of Taxable Property 42 and 43 Special Assessment Levies and Collections - Last Ten Fiscal years 44 Computation of Legal Debt Margin 45 Ratio of Net Bonded Debt to Assessed Value Per Capita - Last Ten Fiscal Years 46 and 47 Ratio of Annual Debt Service Expenditure for Total Bonded Debt to Total General Expenditures - Last Ten Fiscal Years 48 and 49 Property Tax Rates - All overlapping Governments - Last Ten Fiscal Years 50 Computation of Direct and overlapping Bonded Debt 51 Demographic Statistics 52 and 53 Principal Taxpayers 54 Schedule of Insurance In Force 55 Construction Activity - Last Ten Fiscal Years 56 Miscellaneous Statistics 57 Vicinity Map 58 1 1 1 1 1 1 i 1 i 1 1 i 1 1 1 1 1 1 N T R O D C II T O N I THIS PAGE INTENTIONALLY LEFT ELANK i 1 1 i 1 1 1 i 1 1 1 1 LJ 1 i 1 1 1 MAYOR: DENNIS McDONALD MAYOR PRO TEM: JAY T. IMPERIAL COUNCILMEN: ROBERT W. BRUESCH ' GARY A. TAYLOR I Dear Sirs: Roseme ad 8838 E. VALLEY BOULEVARD • P.O. BOX 399 ROSEMEAD, CALIFORNIA 91770 TELEPHONE (818) 288-6671 TELECOPIER 8183079218 RE: COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 1990 The City of Rosemead's Comprehensive Annual Financial Report for the fiscal year ended June 30, 1990 is presented herewith using the guidelines recommended by the , Government Finance Officers ' Association of the United States and Canada. This organization recommends that the report be published in an easily readable and efficiently organized manner, prepared in accordance with generally ' accepted accounting principles in all material respects, audited.in accordance with generally accepted auditing standards by an independent accountant, and include certain general and statistical information. ' In accordance with these recommendations, the June 30, 1990 report is divided into four sections. The Introductory Section, followed ' by the Financial Section which includes the audited financial statements and the unqualified opinion of the City's outside independent auditors. Supplemental Information is next, providing ' further analysis of the Cities financial activities. Finally, the Statistical Section presents historical financial data and various statistical information about the City. ' The Comprehensive Annual Financial Report is prepared by the City's Finance Department. The City is responsible for the accuracy of the data presented and the completeness and fairness of the ' presentation, including all disclosures. We believe the data presented herein is accurate in all material aspects; that it is presented in a manner that fairly sets forth the financial position and results of operations of the City as measured by the financial activity of its various funds; and, that all disclosures necessary to gain the maximum understanding of the City's financial affairs are included. The financial statements are prepared in accordance ' with generally accepted accounting principles as required by the Governmental Accounting Standards Board. November 30, 1990 HONORABLE MAYOR AND MEMBERS OF THE ROSEMEAD CITY COUNCIL Comprehensive Annual Financial Report For Fiscal Year Ended June 30, 1990 November 30, 1990 THE REPORTING ENTITY AND ITS SERVICES: The Rosemead Redevelopment Agency is included in this comprehensive report along with the City in accordance with the National Council on Governmental Accounting (NCGA) Statement 3, "Defining the Governmental Reporting Entity" which defines oversight responsibility. 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. The City Council, acting as the Redevelopment Agency Board, oversees the responsibility for the Agency through its selection of management, influence of operations and accountability for fiscal matters. The Rosemead Redevelopment Agency finances street, park, and utility improvements within the Rosemead Redevelopment Agency's project area. The City of Rosemead provides a broad range of services to its citizens including general government, public safety, street construction and maintenance, sanitation, building safety, park and recreational facilities, and cultural services. 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, and the Los Angeles County Flood Control District. Other governmental functions paid for by the City but performed by County departments under contract with the City are police protection, street maintenance, and animal control. THE ACCOUNTING SYSTEM. INTERNAL CONTROL. BUDGETARY PROCESS AND CONTROL: The accounts of the City are organized on the basis of "funds" or groups of accounts, each of which is considered to be a separate accounting entity. A detail listing and description of the "funds" and account groups are included in the Financial Section, Note 1, pages 10 through 14 of this report. The City's accounting records for all fund types (governmental, special revenue, and fiduciary) use the modified accrual basis of accounting. As such, the following procedures apply: Revenue is recognized when it becomes both measurable and available. Taxes are considered to be measurable when collected by an intermediary and are recognized as revenue at that time. 1 CI 1 I 1 1 1 1 ii 1 ' N:ICA.7`i. 'mil`t -11rF${s~~x I ' - Comprehensive Annual Financial Report For Fiscal Year Ended June 30, 1990 ' November 30, 1990 ' Expenditures are generally recognized when the related liability is incurred. An exception to this general rule exists for unmatured principal and interest on general ;J1:, long-term debt which is recognized as an expenditure when due. ' Internal accounting controls are maintained by established procedures of checks and balances. To the extent that cost effective staffing will allow, various related transactions are performed by different personnel. Accounting procedures continue ' to be monitored and.refined in order to maintain a strong system of internal control. ' During the preliminary stages of the budget process,: the departmental budget requests are submitted to the Finance ' Department for compilation, review of accuracy in expenditure projections, and comparison .to available funds. Revenue projections are compiled by the Finance Department based. upon historical trends, information received from the League of 1 California Cities and the State Controller's Office- .and consideration of current projects within the City. The revenue projections are then reviewed by the City's independent audit; firm ' and'submitted to the City Manager's Office for final review.., The City Manager's Office completes the expenditure review process and presents a Preliminary Budget to the City Council.- for ' consideration, recommendations, and amendments at a City Council Budget Study Session usually held in April/May of each year. The Council recommendations and amendments are then implemented' and included in the City's Annual Budget covering a fiscal period of ' July l through June 30. In all budgeted funds, unexpended budgeted amounts lapse at the end of the budget year. Budgetary control during the year is maintained by the use of an encumbrance system whereby ' appropriations are encumbered when purchase orders, contracts, and ' other commitments are approved. CASH MANAGEMENT: ' While the City pools cash and investment resources of its various j -fiends in order to facilitate the efficient management of cash, the ' Redevelopment Agency's cash is maintained completely separate from 1 the=City. Although the City pools its cash and investments, the cash applicable to a particular.fund is readily identifiable and the balance in the pooled accounts is available to meet current operating requirements. Current investments include Certificates of. Deposit, Federal Agency Securities, state and municipal bonds, corporate bonds, and the Local Agency Investment Fund which,.:ls an ' investment pool established by the State of California. iii Comprehensive Annual Financial Report For Fiscal Year Ended June 30, 1990 November 30, 1990 DEBT ADMINISTRATION: The City of Rosemead, as a general law city, incurring general obligation bonded indebtedness 3.75% of the total assessed valuation of all property within the City. The City of Rosemead bonded indebtedness. I is restricted from which would exceed ' real and personal does not have any 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 the liability 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, 1990 the outstanding notes totaled $11,995;000 with the interest payments payable semi-annually on September 1 and March 1, and principal payments due annually on September 1 through"1995. SIGNIFICANT ACTIVITIES AND EVENTS: The Freeway Nissan dealership completed its move from Mission Drive to Montebello Boulevard at the Pomona (#60) Freeway and was in full operation at its new location in January 1990. The City of Rosemead assisted the Freeway Nissan owners and Nissan Corporation in their approximately $1.6 million relocation by utilizing $250,000 of Community Development Block Grant funds. The relocation not only kept a valued business in the community but is also expected to considerably improve unit sales which will add to the sales tax revenues received by the City. Freeway Nissan has also added sixty-five positions to its.previous thirty-five full time staff as a direct result of this project. It should also be noted that the City of Rosemead's Freeway Nissan Project is being considered by the Community Development Commission for its Outstanding Project Achievement Award of 1990. The Rosemead Sheraton Hotel, located on Montebello Boulevard at the. Pomona Freeway, after several construction delays was finally completed in the latter half of the 1989-90 fiscal year. It is anticipated that this prestigious 150 room hotel with its excellent location will enhance the City's transient occupancy tax revenues. The Rosemead Rebels held their opening football game of the 1989-90 season at the recently dedicated Jess Gonzales Sports Complex located adjacent to Fern School. This six acre fully lighted sports facility was constructed with approximately one million dollars of Rosemead Redevelopment Agency funds. The sports complex iv 1 1 C I I ' Comprehensive Annual Financial Report For Fiscal Year Ended June 30, 1990 ' November 30, 1990 has the capacity to host football, soccer or baseball games with parking facilities for seventy vehicles, rest rooms, bleacher seating for four hundred and is the home of the Rosemead Rebels (a youth football organization). ' During fiscal year 1989-90, the city completed its "FETSIM", Fuel Efficient Traffic Signal Management program which maximizes the efficiency of existing traffic signal hardware to provide better traffic progression along major corridors within the city. The traffic signal coordination has reduced vehicle stops and delays, decreased fuel consumption and helped to improve air quality. PROSPECTS FOR THE FUTURE: ' After considerable discussion by Council and input from the public,. ' the Garvey Avenue Improvement Project was approved., The project will include raised landscaped median configuration and parkways that will encompass approximately two miles of Garvey Avenue, from City limit to city limit. The landscape concepts for both the ' medians and the parkways are scheduled to have construction begin during fiscal year 1989-90 with a projected completion date of June 1991. The improvements are estimated to cost approximately eight ' million dollars over the two fiscal years and include complete reconstruction of Garvey Avenue to upgrade the street, minimize deterioration', improve vehicular riding characteristics and safety, ' provide the aforementioned landscaping and medians, minimize maintenance and improve aesthetics. The Rosemead Redevelopment Agency is funding this project. ' The citizens of Rosemead will soon be enjoying a new Holiday Health Spa. As one of the conditions of approval of this project the City has required that the developer construct a much needed parking ' structure to alleviate parking congestion within the Rosemead Square Shopping Center. ' The Rosemead Redevelopment Agency will expend approximately Five Hundred Thousand Dollars to construct a replacement snack bar and rest rooms 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. The City will expend approximately One point Five Million Dollars in FAU Funds for street improvements along Encinita Avenue, Lower Azusa Road and Walnut Grove during 1990-91. The storm drains will be extended to eliminate flooding problems, and traffic signal modifications along with curb modifications will improve the traffic flow and turning movements. ' v Comprehensive Annual Financial Report For Fiscal Year Ended June 30, 1990 November 30, 1990 Article XIIIB of the California Constitution (Gann Limit) specifies that appropriations made by state and local governments may increase annually by a factor comprised of the change in population.and the.change in the U. S. - Consumer Price Index or California -per capita income, whichever is less. This limitation applies only to appropriations subject to limitation under Article XIIIB. We are pleased to inform you that the City is in the enviable position of being well within the appropriation limit, having reached approximately 57% of said limit at June 30, 1990. The City's 1990-91 estimated revenues and budgeted expenditures indicate that by June 30, 1991 the City will be at approximately 58% of the limit. The-City of Rosemead remains in a strong financial position at June 30, 1990 with a General Fund balance of approximately $9.7 million. The reduction to the General Fund balance from the prior year's approximately $10.7 million balance 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, expires June 30, 1991. GENERAL FIXED ASSETS: At June 30, 1990 the balance of general fixed assets totaled $7,588,261. It should be noted that general fixed assets that 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 or appreciation is recorded on general fixed assets. vi t L-. t t ' Comprehensive Annual Financial Report For Fiscal Year Ended June 30, 1990 ' November 30, 1990 t FINANCIAL OVERVIEW OF GENERAL GOVERNMENTAL FUNCTIONS: The 1989-90 fiscal year revenues for general governmental fund ' types totaled $15,331,510. 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. 1 1 I ' The decrease in property tax increment received in 1989-90 over 1988-89 is due to the litigation settlement received by the Rosemead Redevelopment Agency that resulted in a lump sum payment ' in 1988-89. The decrease in intergovernmental revenue received is primarily due to decreased activity with the City's Community Development Block Grant projects. I ' vii Comprehensive Annual Financial Report For Fiscal Year Ended June 30, 1990 November 30, 1990 I The 1989-90 Fiscal year expenditures total $20,942,080. 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. ' 1 LJ The most significant changes in expenditures for 1989-90 over 1988- ' 89, as shown above, are largely items funded by the Rosemead Redevelopment Agency. The increase in the Public works category contains approximately One Million Dollar for the Jess Gonzales , Sports Complex. The decrease in Capital outlay reflects a Seven Hundred Thousand fire station that was constructed during fiscal year 1988-89 1 OTHER INFORMATION: The City of Rosemead was pleased to receive an "Outstanding Award ' For Financial Reporting" from the California Society of Municipal Finance Officers for the City's Comprehensive Annual Financial ' Report, Fiscal Year Ended June 30, 1989. This award is bestowed annually 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. Viii 1 Comprehensive Annual Financial Report 1 For Fiscal Year Ended June 30, 1990 November 30, 1990 1 This.award is valid for one year only and, as such, requires the t resubmission of the current report each year for revi o ew in order achieve- this prestigious status. The City of Rosemead is submitting its Comprehensive Annual Fin ancial Report for the Fiscal 1 Year Ended June 30, 1990 for review. 1 The preparation of this report on a timely basis could not have been accomplished without the efficient and dedicated effort of the City's Finance Department. We also appreciate and would like to 1 commend all other City departments who assisted and contributed material. 1 Respectfully submitted, 'FRANK G. TRIPEPI 1 city manager 1 G / 0-00cr 1 SHAWNA G. WHALLON Finance Director 1 u 1 1 1 C 1 1 ix CITY OF ROSEMEAD, CALIFORNIA • CITY OFFICIALS • ELECTED OFFICIALS: • City Council: Dennis McDonald Mayor Jay T. Imperial . . . . . Mayor Pro Tern Clary A. Taylor . . . . . Councilman Robert W. Bruesch . . . Councilman • APPOINTED OFFICIALS: • Planning Commissioners: Marvin H. Lowrey Howard Mattern Robert Young . . . Margaret Clark . . . Merced 'Bill' Ortiz • Traffic Commissioners: Chairman Vice Chairman Commissioner Commissioner Commissioner Holy Knapp . . . . . Chairman Frank E. Larson . . . . Vice Chairman Al Pinon . . . . . . . Commissioner Dan Tirre . . . . . . . Commissioner Eldon Beezley . . . . . Commissioner • Frank G. Tripepl City Manager • Hubert E. Foutz . . . . . . City Treasurer • Robert L. Kress . . . . . . City Attorney • Janice Warner . . . . City Clerk x 1 1 1 1 1 o ~ a a w x ~ U w J N a O Z cr O LL o Q y N H Z U a 0 cc O Xi CALIFORNIA SOCIETY OF MUNICIPAL FINANCE OFFICERS DEDICATED TO THE PROFESSIONAL ADVANCEMENT OF MUNICIPAL FINANCE ADMINISTRATION Catilkater 01.4ward FOR OUTSTANDING FINANCIAL REPORTING PRESENTED TO THE ~itu of Zsemmd 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 198E"1989 Chair, P,01 ss Ma O.s~LC~omL,mi✓tt^e/~a/r~//AL/ L "P.nl Lr- ~bri23.1990 4 eta xii 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 i 1 F 10 A N A II L THIS PAGE INTENTIONALLY LEFT BLANK McGLADREY & PULLEN ' Certified Public Accountants and Consultants . I 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, 1990, 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, 1990, and the results of its operations and ' the changes in financial position 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 October 10, 1990 ' 1 CITY OF ROSEMEAD, CALIFORNIA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS June 30. 1990 Governmental Fund TYDes ASSETS Cash and cash investments $ Cash and investments with fiscal agent Other investments 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 _ Special Capital General Revenue Projects 3,492,546 $ 1,287,220 $ 3,803,232 4,898,178 8,366,402 976,397 302,206 1,072,143 355,868 - - Total assets S 9.722.989 $ 1,589,426 $13,241,777 LIABILITIES AND MUNICIPAL EQUITY LIABILITIES Accounts payable and accrued liabilities $ 980,489 $ 230,178 $ 448,958 Due to other funds - 186,972 168,896 .Deferred revenue 150,000 174,867 - Refundable deposits - - - Deferred compensation - - - Equipment purchase contracts - - - Tax allocation notes - - - Accrued vacation pay and compensatory time 10.158 - - $ 1.140.647 $ 592.017 $ 617,854 MUNICIPAL EQUITY Investment in general fixed assets $ - $ - $ - Fund balance: Reserved: Long-term receivable 626,486 Debt service - Unreserved: Designated for pension obligations - - - Designated for capital projects - - 12,623,923 nated Undesi 7,955.856 997.409 g Total municipal equity $ 8,582,342 $ 997,409 $12.623,923 Total liabilities and municipal equity S 9.722,989 $ 1.589.426 $13,241,777 See Notes to Financial Statements. 2 1 1 ' Governmental Fiduciary Total Fund Types Fund Types Account Groups (Memorandum Only) ' Trust General General Debt and Fixed Long-Term Service Agency Assets - Debt 1990 1989 t $ $ 68,660 $ $ - $ 8,651,658 $12,320,139 2,973,099 - - 2,973,099 2,842,587 _ 13,264,580 15,707,537 ' 620,335 620,335 520,244 106,027 39,095 - 2,495,868 2,620,454 _ _ - 355,868 498,081 7,588,261 - 7,588,261 5,828,735 = 3,079,126 3,079,126 2,948,614 ' - - 8.983.303 8.983.303 10.616.084. 3.0 728.090 S 7.588,261 S12.2 62.429 $48,012.098 153.902.475 $ $ 4,970 $ $ $ 1,664,595 $ 2,004,827 ' _ 355;868 498,081 _ - 324,867 194,001 78,209 = - 78,209 315,752 24,576 24,576 74,527 _ _ - 1,732 11,995,000 11,995,000 13,510,000 67.429 77.587 61.206 $ $ 107,755 $ $12,062.429 $14.520.7.02 $16.660.126 $ $ 7,588,261 $ - $ 7,588,261 $ 5,828,735 ' _ - 626,486 469,111 3,079,126 3,079,126 2,948,614 - 620,335 - 620,335 520,244 12,623,923 17,623,433 8,953.265 9.852.212 ' $ 3.079.126. $ 620.335 $ 7.588.261 $ - $33.491.396 $37.242.349 ' $ 3,079,126 $ 728.090 S 7.588,261 $12.062,429 $48.012.098 $53.902.475 ' 3 CITY OF ROSEMEAD, CALIFORNIA COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES Year Ended June 30. 1990 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 Loan repayments Other EXPENDITURES Current: General government Public safety Public works Public health Public recreation Community service Intergovernmental Capital outlay Debt service: Principal Interest Governmental Fund Tvoes Special Capital General Revenue Projects $ - $ 303,374 $ 3,204,232 4,176,257 - - 533,050 - 2,108,603 1,603,100 284,851 - 319,756 204,245 - 813,647 83,050 1,223,582 82.085 95.842 $ 8.318.249 $ 2.193.769 $ 4.523.656 $ 1,398,452 $ 11,512 $ 302,138 3,417,893 391,738 - 420,856 1,359,476 6,755,996 856,298 - - 1,762,25.4 12,940 1,226,626 270,323 107,805 15,638 1,728 - 51 $ 9.191.963 $ 2.061.627 $ 7.058.134 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. $ (873.714) $ 132,142 $(2.534.478) $ - $ 75,307 $ (75.307) (2.465.032) $ (75.307) $ 75.307 $(2.465.032) $ (949,021) $ 207,449 $(4,999,510) 9.531.363 789.960 17.623.433 LL. 2342 S 997.409 $12.623.923 4 1 ' Governmental Fiduciary Totals Fund Types Fund Type (Memorandum Only) ' Debt Expendable Service Trust 1990 1989 $ $ $ 3,507,606 $4,195,444 ' 4,176,257 3,591,798 533,050 496,966 13,596 3,725,299 4,518,697 ' 284,851 338,686 524,001 477,896 268,778 2,389,057 2,788,346 - - 7,459 13.462 191.389 90.009 $ 282.240 $ 13,596 $15.331.510 $16.505.301 ' $ - $ $ 1;712,102 $ 1,611,328 3,809,631 3,651,535 8,536,328 7,624,877 856,298 605,353 - 1,775,194 1,529,628 13,596 1,510,545 1,528,378 ' 7,459 123,443 840,338 ' 1,515,000 1,516,728 1,422,423 1.101.760 1.101.811 1.218.384 $ 2,616,760 $ 13,596 $20.942:080 $20.039.703 $(2.334.520) $ - $(5.610.570) $(3.534.402) $ 2,465,032 $ $ 2,540,339 $ 2,503,899 t (2.540.339) (2.503.899) $ 2,465.032 $ $ - $ $ 130,512 $ $(5,610,570) $(3,534,402) t 2.948.614 30.893.370 34.427.772 $ 3.079.126 S $25.282,800 $30.893.370 ' 5 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. 1990 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 (to) other funds Revenues and other financing sources over (under) expenditures FUND BALANCE, BEGINNING FUND BALANCE, ENDING See Notes to Financial Statements. General Fund Over (Under) Bud eg t Actual Budget 3,773,000 4,176,257 403,257 587,500 533,050 (54,450) 2,808,770 2,108,603 (700,167) 360,800 284,851 (75,949) 260,000 319,756 59,756 761,600 813,647 52,047 32.860 82.085 49.225 $ 8.584.530 $ 8,318.249 $ (266.281) $ 1,452,159 $ 1,398,452 $ (53,707) 3,455,460 3,417,893 (37,567) 1,613,940 420,856 (1,193,084) 819,880 856,298 36,418 1,718,450 1,762,254 43,804 977,070 1,226,626 249,556 131,700 107,805 (23,895) 1,800 1,728 (72) 51 51 $10.170.459 $ 9.191.963 $ (978.496) $(1.585.929) $ (873.714) S 712.215 $ $ (75.307) $ (75.307) $(1.585.929) $ (949,021) S 636.908 9.531.363 $ 8.582.342 6 I 1 I I 1 u 1 1 1 1 1 ' Sp ecial Revenue Debt Service Over Over (Under) (Under) ' Budget - Actual Budget Budeet Actual Budeet $ 295,000 $ 303,374 $ 8,374 $ $ $ ' 1,938,053 1,603,100 (334,953) 170,000 204,245 34,245 ' 55,600 83,050 27,450 210,000 268,778 58,778 13.462 13.462 ' $ 2.458.653 $ 2,193,769 $ .(264,884) S 210.000 $ 282.240 $ 72.240 ' $ 14,000 $ 11,512 $ (2,488) $ - $ _ $ _ 465,000 391,738 (73,262) 1,354,270 1,359,476 5,206 - ' 21,990 12,940 (9,'050) 556,790 270,323 (286,467) ' 187,273 15,638 (171,635) - - - 1,515,000 1,515,000 1.101.760 1.101.760 ' $ 2.599.323 $ 2.061.627 $ (537.696) $ 2.616.760 $ 2.616.760 $ - S (140.670). $ 132.142 $ 272.812 $(2.406.760) $(2.334.520) $ 72.240 $ $ 75.307 $ 75.307 $ 2.616.760 $ 2,465.032 $ (151.728) ' ' S (140.670) $ 207,449 $ 348.119 S 210.000 $ 130,512 S (79.488) 789.960 2.948.614 S 997.409 S 3,079.126 7 CITY OF ROSEMEAD, CALIFORNIA STATEMENT OF REVENUE, EXPENSES AND CHANGES IN FUND BALANCE PENSION TRUST FUND Year Ended June 30. 1990 Operating revenue: Contributions $ 84,505 Interest and other investment income 49.544 $ 134.049 Operating expenses: Administrative fees $ 3,720 Pension benefits 30.238 $ 33.958 Net income $ 100,091 FUND BALANCE, BEGINNING 520.244 FUND BALANCE, ENDING S 620,335 See Notes to Financial Statements. 8 1 1. 1 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1 CITY OF ROSEMEAD. CALIFORNIA STATEMENT OF CHANGES IN FINANCIAL POSITION PENSION TRUST- FUND Year Ended June 30, 1990 FINANCIAL RESOURCES PROVIDED BY OPERATIONS, net income $ 100.091 SUMMARY OF NET CHANGES IN CASH AND INVESTMENTS, increase in ' 1100 091 annuity contracts $ , See Notes. to Financial Statements. Q I Note 1 CITY OF ROSEMEAD. CALIFORNIA 2:OTES TO FINANCIAL STATEMENTS Reporting Entity, Nature of Operations. Description of Funds and Accounts 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 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 Citv of Rosemead The 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 of Rosemead, 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 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: 1 1 1 I 10 1 Note 1 1 1 1 1 1 `TOTES TO FINANCIAL STATEMENTS Reporting Entity, Nature of Operations, Description of Funds and , Accounts. 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 Traffic Safetv 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 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 Communitv 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 Liehtine Fund accounts for the operation of street lights within the City. , The Narcotic 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 crimes prevention and detection programs., The R. Z'Berg/Harris Grant Fund accounts for a state grant for preapproved park projects. 11 NOTES TO FINANCIAL STATEMENTS :dote L. Reporting Entity, Nature of Operations. Description of Funds and Account Groups and Significant Accounting Policies, Continued Capital Proiects Fund (Redevelopment Fund) account 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 Tvpes The Pension Trust Fund accounts for the activity of the retirement plan for employees of the City. The Expendable Trust Fund accounts for the repair, replacement or restoration of disaster damaged publicly owned and certain nonpublicly owned facilities. 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. 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 Debt Account 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 are accounted for using the modified accrual basis of accounting. Revenue is recognized when it becomes both measurable and available. Taxes are considered to be measurable when collected by an intermediary and are recognized as revenue at that time. Expenditures are generally recognized when the related liability is incurred. An exception to this general rule exists for unmatured principal and interest on general long-term debt which is recognized as an expenditure when due. The pension trust fund is accounted for using the accrual basis of accounting. Revenue is recognized when it becomes measurable and expenses are recognized when the liability is incurred. 12 LJ 1 1 1 1 l.l' C 1 1 ' :TOTES TC FINANCIAL STATEMENTS ;iote 1. Reporting Entity, iature of Operations. Description of Funds and ' Account Groups and Significant Accounting Policies. Continued Cash and 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. 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. Receivables ' All 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 compensatorv 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 ' 13 Note 1 Note 2 Note 3 1 NOTES TO FINANCIAL STATEMENTS Reporting Entity, Nature of Operations, Description of Funds and Account Groups and Significant Accounting Policies, Continued , 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. Budget Matters Budgets presented in this report for comparison to actual amounts are ' presented in accordance with generally accepted accounting principles. Reported budget amounts represent the original adopted budget as amended. ' In all budgeted funds, unexpended budgeted amounts lapse at the end of the budget year. Spending control for most funds is established by the amount of expenditures budgeted for the fund, but management ' control is.exercised at budgetary line item levels. ' Cash and Investments The components of cash and cash investments at June 30, 1990 are as ' follows: Cash in bank $ 678,403 Time certificates of deposit 7.973.255 S 8.651,658 ' 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 was $8,651,658 and the bank balance was $8,653,417. All deposits at year-end were entirely covered by federal depository insurance or by collateral held by the City's agent in the City's name. i 14 1 Note 3 1 1 1 NOTES TO FINANCIAL STATEMENTS Cash and Investments, Continued 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. Other investments are categorized in the following schedule to give an indication of the level of risk assumed by the entity at year-end. Investment Type U.S. govern- ment and government agency securities State and municipal bonds Corporate bonds Investment in mutual fund Investment in State Treasurer's Investment Pool Total other Category Carrying Market 1 2 3 Amount Value $1,402,514 $ 243.284 $ $ 1,402,514 $ 1,386,026 243,284 245,600 6.528.777 6.528.777 6.389.389 $1.645.798 $6.528.777 $ $ 8,174,575 $ 8,021,015 450,005 411,392 4.640.000 4.640.000 investments $13.264,580 S13 072.407 The three preceding risk description categories are defined as follows: Category 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 broker's or dealer's trust department or agent in the City's name. 3 Uninsured and unregistered investments for which the securities are held by the broker or dealer, or by its trust department or agent but not in the City's name. 15 z 0 rt (D F o b d 9 ro F 9 rt G C n n m m S w W m O, G m r• n r• o n n fD Qu O O rt G ~-S G b (D fD a n n r E 9 G rt< w tz~ rt fD < M r• 9 M rt G n m r• r• C Oa z 7 rt S w O O rt r m m rt rt < < n m y r• m n rt n n n o w r• 0 n a m rt w w b rt N S O R N O r• (D r• r• O rt B N 9 d d - c., w rt w r• o m m a o r r C G r. w w r' R n G 3 w m~ r R G rt m m G G a N rt o rt w m m r a B C G rt Y n k w ~ o n w R m r m w 7 m n p • E r G R g r rt S p rt N rt rt d N (D A H v G N~ G G rt 7 N ~ F N O G, N ~ n to O a rn F m to 7 m w m n w O o N Q o G rt m 7 G v m rn w m a a ~ R 1-+ m m rt w a I m o r• ~ ~ N O G O r• rt Y N {n O rt o G o G w O rt w R ~ rn n o' N- r' i O O C Er ° N 'TJ O m R m r r - w w < m G w~~ a. w ''t ~ m p w o N o N O m n 'O r• m r• r• < O rt N R 9 - G w • w+ a z- aq H O O D, N O 1-' fD r rt " r' ~ O w S O p~ p d rt R M Qv a G d o w w o in x,70 ~•rt w r aP•~ ' m m R o n R w w r a n w N ~ r f„~ G Gn n w ° v o H w tj O M 0 G y R rt a r' a N O • r• O R I-' w m~ 9 m w 7 G 0° 77 r+ w N R r °s y C n G N 7 O 7 rt F ~ i W m fn r• F' rt 7 ~ << G S a y W N r' G m ,Y R w n ~ r, n m< G O a o o b rt m G O < b p G r,. r• •iy r to m n 0. w rt w rt 7 ~ 0 0 < N rt a M w rt N O 00 ~ D\ r. d rt C W ~ E r n N n N O M p O N o N N . . w a v+ ' O ~ ~ m V V m ~ ~ y y r m w 7 n in R .r.' n n iC ~G m o M ~ rrr ~ wG rt rt w G b 7C ~ y~ wtd.,N Gro 9 O O . In N {n y w w fD r rt w O < (D d ~ rt G b M w t{ ~ O F N p O O n r• M H y - N V G w In In G n ~'r•(D. m ° r. pp.. E < In rt m ~ ~ r w m n R R d a O N r• rt 9 w GQ ' S r r N F O S o r fD H R 7 N O rt G Op m- M G F w Q~ F ~O O w G n w ~'t O H n rt W O N W O rt r~ rt m o a m m v. v~ o m w o w rr• E tD MEi CC b O - N r' g r' R w a r• fD Y-' 7 m U r 1 ~ m r• S rt m o rt o w o rn F ~ co o rn C R m o C w G' n n m N rn N r rt C n r. r m (D R z O H m H O 'T1 z 2 C] a r 9 n v, 16 ' NOTES TO FINANCIAL STATEMENTS Note 5. Interfund Receivable and Payables The June 30, 1990 interfund receivable and payables are as follows: Inte rfund t Funds Receivable Pavables General Fund $ 355.868 $ - ' Special Revenue Funds: Traffic Safety $ - $ 11,882 Community Development Block Grant = 162,150 ' R. Z'Berg/Harris Grant 12,940 $ 355,868 $ 186,972 F d i l 168 896 un Cap ta Projects - . S 355.868 S 355.868 ' Note 6, Property and Equipment ' Changes in the property and equipment d uring the year ended June 30, 1990 were as follows: Balance Balance June 30, June 30, 1989 Acauisitions 1990 ' Land $ 1,060,734 $ 1,655,000 $ 2,715,734 Buildings and improvements 2,955,316 - 2,955,316 Vehicles 252,149 1,723 253,872 ' Furniture and office equipment 402,155 70,978 473,133 " Special equipment and machinery 436,238 10,869 447,107 Other improvements 722.143 20.956 743.099 5,828,735 $ 1,759,526 S 7,588.261 Note 7. Pension Plan 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 1008 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, 1989 was $882,278. The total payroll for all employees for the calendar year ended December 31, ' 1989 was $1,507,396. The total pension contribution for the fiscal year ended June 30, 1990 was $84,505. 1 17 Note 7 Note 8 2vOTES TO FINANCIAL STATEMENTS Pension Plan and Deferred Compensation Agreements, Continued ' The Citv 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 not to exceed the lesser of $7,500 or 258 of the participant's includible compensation. The ' deferred compensation is not available to employees until termination, retirement, death or unforeseeable emergency. ' 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. ' Long-Term Debt The following is a summary of the general long-term debt transactions for the year ended June 30, 1990. Tax Accrued Equipment Allocation Vacation ' Purchase Notes, and Sick Contracts Series 1987 Leave Total Balance, ' June 30, 1989 $ 1,732 $13,510,000 $ 52,966 $13,564,698 Additions, net - 14,463 14,463 Retirements (1.732) (1.515.000) (1.516.732) ' Balance, June 30, 1990 S 511.995.000 $ 67.429 57.2.062.429 Prior-Year Defeasance of Debt In prior years, Rosemead Redevelopment Agency defeased its tax ' allocation bonds Series 1983 by placing the proceeds of new tax allocation notes Series 1987 in. an irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and the liability for these defeased bonds are ' not included in these financial statements. At June 30, 1990, $1,275,000 of these defeased bonds remain outstanding. , Compensated Absences That portion of the liability for the vested compensated absences ' totalling $67,429 which is not expected to be paid from available resources is reported in the general long-term debt account group. The annual requirements, principal and interest, to amortize the , outstanding debt as of June 30, 1990 are as follows: lE ' ' NOTES TO FI NANCIAL STATEMENTS , 1 Note 8. Long-Term Debt, Continued Tax Years Allocation Ending Notes, 1 June 30, - Series 1987 Interest Total 1991 $ 1,630,000 $ 972,350 $ 2,602,350 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 Thereafter 2,420,000 105.875 2,525,875 S11 995.000 S 3.382.748 $15.377.748 ' Note 9. Budget Overexpenditures ' Expenditures exceeded app ropriations for t he year ended June 30, 1990 in the following special revenue funds: Amount of Overexpendi- ' Appropriation Expenditures cures Local Transportation Fund $ 36,280 $ 50,400 14,120 ' State Gas Tax Fund $ 713,590 $ 721,376 $ 7,786 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, Rosemead Redevelopment 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, 1990, it was exempt from funding any of the set aside. As of June 30, 1990, the accumulated set aside amount not yet ' .funded was approximately $2,974,000. The law requires the Agency to devise a plan to fund the accumulating amount and to begin funding it by 1996. ' -During the year ended June 30, 1990, a lawsuit was filed against several local governments, including the City, asking for monetary damages in order to assist the plaintiffs in cleanup of a former ' landfill now contaminated by hazardous waste. Management and legal counsel for the City are unable to reasonably estimate the amount of liability which may be incurred if an adverse decision is rendered. ' However, the City intends to vigorously defend itself in regard to this lawsuit. 1 19 THIS PAGE INTENTIONALLY LEFT ELANK 1 1 1 1 1 1 f 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 S U P P L E M E N T A L I CITY OF ROSEMEAD, CALIFORNIA REVENUE DETAIL - BUDGET AND ACTUAL GENERAL FUND Year Ended June 30. 1990 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 1990 1989 Over (Under) Bud eg t Actual Budget Actual $ 3,000 $ 698 $ (2,302) $ 2,200 100,000 142,520 42,520 147,115 - 1,334 1,334 2,926 2,840,000 3,205,342 365,342 2,665,676 470,000 494,223 24,223 461,620 360.000 332.140 (27.860) 312.261 $ 3.773.000 $ 4.176.257 $ 403.257 $ 3.591.798 $ 31,000 $ 33,073 $ 2,073 $ 33,849 538,000 488,290 (49,710) 444,960 14,000 9,138 (4,862) 13,851 4.500 2.549 (1.951) 4.306 $ 587.500 $ 533.050 $ (54.450) $ 496.966 $ - $ 169,720 $ 169,720 $ - 750 - (750) 1,186 200,000 150,139 (49,861) 179,386 1,668,000 1,689,632 21,632 1,641,702 960 773 (187) 758 99,000 82,839 (16,161) 93,388 830,760 - (830,760) - 9.300 15.500 6.200 $ 2.808.770 $ 2,108,603 $ (700,167) $ 1.916.420 Filing and certification fees $ 10,000 $ 6,472 $ (3,528) $ 12,525 Other current charges 104,600 89,885 (14,715) 128,148 Environmental impact reports 1,000 300 (700) 600 Recreation fees 245,200 170,061 (75,139) 190,256 Assessments - 18,133 18,133 7.157 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 $ 360,800 $ 284,851 $ (75.949) $ 338.686 $ 260.000 $ 319.756 $ 59,756 $ 295.209 $ 760,000 $ 808,445 $ 48,445 $ 784,058 1.600 5.202 3.602 4.523 $ 761.600 $ 813.647 $ 52.047 $ 788.581 $ 1,000 $ 28,035 $ 27,035 $ . 70 31.860 54,050 22.190 18.098 $ 32.860 $ 82.085 $ 49.225 $ 18.168 $ 8.584,530 S 8.318.249 S (266.281) S 7.445.828 20 1 1 1 I 1 $5 $4 $3 $2 $1 $0 CITY OF ROSEMEAD, CALIFORNIA GENERAL FUND REVENUE Years Ended June 30, 1990, 1989 and 1988 Thousands Taxes Licenses d Fines/ Use of Inter- Charges Other Permits Forfeit/ Money governmental for Penalties Property Services 1990 ® 1989 1988 21 CITY OF ROSEMEAD. CALIFORNIA EXPENDITURE DETAIL - BUDGET AND ACTUAL GENERAL FUND Year Ended June 30, 1990 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 Street lighting PUBLIC WORKS Engineering and administration Street construction Traffic signs and striping maintenance PUBLIC HEALTH, services PUBLIC RECREATION 1990 1989 Over (Under) Budget Actual Budget Actual $ 13,000 $ 26,011 $ 13,011 $ 13,706 31,180 31,743 563 29,249 553,250 372,930 (180,320) 508,747 84,480 80,624 (3,856) 52,334 192,680 160,744 (31,936) 150,904 5,630 7,537 1,907 5,262 64,000 101,000 37,000 62,659 174,900 290,282 115,382 345,786 311,579 297,130 (14,449) 314,938 21,460 30,451 8.991 29,813 $ 1.4 2,159 $ 1,398,452 $ (53,707) $ 1,513,398 $ 3,245,840 $ 3,263,996 $ 18,156 $ 3,027,797 40,000 25,266 (14,734) 44,752 93,000 90,843 (2,157) 97,632 42,620 37,788 (4,832) 35,178 34.000 (34,000) - $ 3.4 5,460 $ 3,417,893 $ (37.567) $ 3,205,359 $ 51,680 $ 38,039 $ (13,641) $ 116,214 1,295,760 93,992 (1,201,768) 127,686 266,500 288,825 22.325 72.758 $ 1,613,940 $ 420,856 $(1.193,084) $ 316.658 S 819.880 S 856,298 $ 36.418 S 605,353 Administration $ 163,120 Parks 774,870 Recreation 548,420 Aquatics 232.040 $ 1,718,450 COMMUNITY SERVICE Planning $ 285,100 Building regulation 405,000 Engineering 225,100 Redevelopment 15,870 Community improvements 46,000 Street projects S 077,070 CAPITAL OUTLAY $ 131,700 DEBT SERVICE 1,800 Total expenditures $10,ll0,459 $ 188,127 $ 25,007 $ 141,178 834,026 59,156 657,353 493,425 (54,995) 491,620 246.676 14.636 192.457 $ 1,762,254 $ 43.804 $ 1,482,608 $ 232,076 $ (53,024) $ 230,043 626,562 221,562 458,170 317,012 91,912 296,778 9,039 (6,831) 14,154 41,937 (4,063) 18,293 24 S 1,226,626 S 249,556 $ 1,017,462 $ 107.805 $ (23,895) $ 133,366 $ 1.779 $ (21) S 2,664 $.9,191,963 S 978,496) S 8.276.868 22 1 1 $4000 $3500 $3000 $2500 $2000 $1500 $1000 $500 $0 CITY OF ROSEMEAD, CALIFORNIA GOVERNMENTAL FUNDS EXPENDITURE Years Ended June 30. 1990. 1989 and 1988 Thousands © 1990 ® 1989 ® 1988 23 General Public Public Public Public Community Capital Debt Government Safety Works Health Recreation Service Outlay Service CITY OF ROSEMEAD, CALIFORNIA COMBINING BALANCE SHEET SPECIAL REVENUE FUNDS ' June 30, 1990 Local Public Traffic State Aid to Trans- Trans- Safety Gas Cities portation portation ASSETS Fund Tax Fund Fund Fund Fund CASH AND CASH INVESTMENTS $ - $ 123,746 $ 81,133 $ 12,768 $ 711,037 ' RECEIVABLES 11.882 2.029 13.440 45.076 ' Total assets $ 11.882 $ 125.775 S 81.133 $ 26.208 S 756.113 LIABILITIES AND FUND BALANCES , 'ABILITIES -!,counts payable $ - $ 125,775 $ $ $ 34,077 ' Due to other funds 11,882 - Deferred revenue ' T t biliti l li $ 11 882 $ 125 775 $ $ 34 077 ' o a a es , , - $ , FUND BALANCES 81.133 26.208 722.036 ' Total liabilities and fund balances S 125.775 j 81.133 $ 26.208 $ 756.113 ' t t 24 t r r r 1976 Community Community r Development Parklands Street Narcotics R. Z'Berg Block Grant Grant Lighting Seizure' Harris Totals Fund Fund Fund Fund Fund 1990 1989 r $ 179,484 $ 44,532 $ 79,525 $ 54,995 $ - $1,287,220 $1,133;401 r 216.603 13.176 302.206 505.146 $ 396,087 $ 44.532 S 79.525 J___54 995 $ 13.176 51.589.426 $1.638,547 i r $ 49,697 $ $ 20,629 $ $ - $ 230,178 $ 300,984 162,150 - 12,940 186,972 353,602 r 174.867 174.867 194.001 $ 386,714 $ $ 20,629 $ $ 12,940 $ 592,017 $ 848,587 r 9,373 44.532 58,896 54.995 236 997.409 789.960 r $ 396.087 $ 44,532 S 79,525 I--L4 ,995 S' 13.176 $1.589,426 $1,638.547 1 r r r r r ' 25 CITY OF ROSEMEAD. CALIFORNIA COMBINING STATEMENT OF REVENUE. EXPENDITURES -ND CRANCES IN FUND BALANCES SPECIAL REVENUE F=S Year Ended June 30. 1990 Local Public Traffic State Aid to Trans- Trans- Safetv Gas Cities portation portation Fund Tax Fund Fund Fund Fund REVENUE Special assessments $ - $ - $ - $ - $ - Intergovernmental 641,601 13,440 542,286 Fines, forfeitures and penalties 136,972 - - - Use of money and property - 4,468 6.864 3.497 61.093 $ 136.972 $ 646.069 $ 6.864 S 16.937 $ 603.379 EXPENDITURES Current: General government $ - $ $ $ $ Public safety 136,972 - Public works - 721,376 50,400 476,938 Public recreation - - - - - Community services = - - - - Capital outlay $ 136.972 $ 721.376 $ $ 50.400 $ 476.938 Revenue over (under) expenditures $ $ (75,307) $ 6,864 $ (33,463) $ 126,441 Other financing sources, operating transfer from other funds 75.307 Revenue and other financing sources over (under) expenditures $ $ $ 6,864 $ (33,463) $ 126,441 FUND BALANCE, BEGINNING 74,269 59.671 595.595 FUND BALANCE, ENDING S S $ 81.133 S 26.208 S 722.036 26 1 1 1 1 1 1 1 1 1 1 1 1 -i 1 1 1 1 1 1 1976 Community Community Development Parklands Street Narcotics R. Z'Berg Block Grant Lighting Seizure Harris Total Grant Fund Fund Fund Fund Fund 1990 1989 g - $ $ 303,374 $ $ - $ 303,374 $ 273,777 392,597 - 13,176 1,603,100 2,504,279 - 67,273 - 204,245 182,687 3 768 3.360 83.050 76,581 597 S 392 . 768 $ 3 374 S 303 S 70 633 $ 13.176 S2.193,769 $3037.324 . , , . 512 $ 11 $ $ - $ $ $ 11,512 $ 13,068 , - 254,766 391,738 446,176 110,762 - 1,359,476 2,190,830 - 12,940 12,940 47,020 270,323 - - 270,323 ,412,918 - 15.638 15.638 21.579 597 $ 392 $ - $ 254,766 $ 15.638 $12.940 $2.061.627 $3,131.591 . $ - $ 3,768 $ 48,608 $ 54,995 $ 236 $ 132,142 $ (94,267) 75,307 128,790 $ $ 3,768 $ 48,608 $ 54,995 $ 236 $ 207 ,449 $ 34 ,523 j ..373 40.764 9,373 10.288 789 ,960 755 437 t S 0.373 S 44.532 S 58.896 S 54.995 S 3G S 907 .409 $ 789 i ,960 27 I THIS PAGE INTENTIONALLY LEFT BLANK 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 S T A T s Note: The City of Rosemead does not have T revenue bonds, therefore the Revenue Bond Coverage - Last Ten Fiscal Years schedule is not included. I C A L 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 1980-81 $ 1,585,775 $ 2,530,402 $ 862,907 $ 31,410 $ 866,415 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 1984-85 2,730,594 3,566,007 1,129,129 138,033 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 (1) General Governmental expenditures includes expenditures of the General, Special Revenue, and Debt Service Funds only. Operating Transfers Out have been excluded from all years. Millions 84 $3 $2 $1 80 ® Public Works ® Public Ssiety © Debt Services ® General Govt. ® Public Reor. ® Comm. Sere. 11111111 Misc. I 28 1000-81 1881-82 1082-88 1088-84 1884-88' 1 1 1 1 Community Issuance Capital Debt Inter- Services Costs Proiects Service governmental Total 1 $ 23 366 $ - $ 890 897 $ - 172 $ 7 791 , - $ , 1, , , 1 28,249 - - 1,051,569 - 8,136,627 449,149 - - 1,050,350 - 9,144,092 1 506,470 163,411 - 1,657,169 - 10,184,769 679,109 - - 2,043,462 - 11,564,045 1 604,797 - - 1,297,897 - 11,042,691 1 1,239,472 - - 1,319,863 - 16,535,507 906,176 339,240 36,184 1,912,681 15,241,264 1 1,528,378 - 840,338 2,640,807 7,459 20,039,703 1,510,545 - 123,443 2,618,539 - 20,942,080 1 1 Millions 1 $to 1 :i 1 ie 1 i i¢ 1 D 1088-8e 1000-87 1087-1166 1000-88 1888-80 ® Public Works ® Public 8sfety ® Debt Services ® General Govt. 1 ® Public Rear. ® Comm Barr. S~ Misc. 29 CITY.OF ROSEMEAD, CALIFORNIA GENERAL REVENUES BY SOURCE (1) ALL GOVERNMENTAL FUND TYPES Last Ten Fiscal Years Fiscal Property Special Other Licenses Inter- Year Tax Assessments Taxes & Permits governmental 1980-81 $ 1,495,707 $ 132,812 $ 2,115,859 $ 218,442 $ 2,585,329 1981-82 1,403,635 168,294 2,263,160 341,411 2,725,086 1982-83 .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 (1) Includes General and Special Revenue Funds. (2) Includes Proceeds from Tax Al location Notes. Millions 88 86 $4 82 $0 ® Intereovl. ® Prop. T" © Other Tosec CO Use of M t P ® Mice. ® Lie. 8 Permits = Fines, For. 8 Pen. 30 1880-81 1881-62 1962-83 1889-64 1084-86 1 1 1 Charges for ' Services $ 124,623 203,306 312,298 ' 326,725 ' 279,992 263,.558 268,037 293,903 ' 338,686 ' 284,851 t Fines, Use of Forfeitures. & Penalties Money & Property Other Total $ 219,512 $'1,444,082 $ '100,354 $ 8,436,720 263,906 2,094,752 101,926 9,565,476 324,178 1,607,829 142,583 9,524,799 342,947 2,041,269 7,140,701 (2) 18,071,711 318,040 2,441,046 - 12,757,765 313,147 2,311,866 .89,719 12,085,826 444,131 1,900,145 38,420 15,940,288 449,495 2,621,930 212,503 14,053,391 477,896 2,788,346 97,468 16,505,301 524,001 2,389,057 191,389 15,331,510 Millions 8B se 44 is $2 =1 so ® Interowt. M Prop. Tex © Other Tame ® Uee of M l P ® Mime. ® Lie. A Permits 1101 Finee. For. A Pon. 31 1686-69 1e6B-67 1667-66 tees-6o lose-00 CITY OF ROSEMEAD, CALIFORNIA OTHER TAX REVENUES BY SOURCE ALL GOVERNMENTAL FUND TYPES Last Ten Fiscal Years Fiscal Year 1980-81 1981-82 1982-83 1983-84 1984-85 1985-86 1986-87 1987-88 1988-89 1989-90 Maintenance District 4,061 7,300 2,155 2,200 698 Real Estate Taxes $ 23,278 16,536 23,386 38,360 39,150 49,308 83,170 105,223 147,115 142,520 Trailer Coach Tax $ 4,850 4,746 1,240 5,260 1,052 1,351 3,618 2,926 1,334 Sales & Use Tax $ 1,782,894 1,914,550 1,853,771 1,961,668 2,425,925 2,339,127 2,452,123 2,656,680 2,665;676 3,205,342 32 1 1 Franchise Fees $ 191,635 203,515 246,487 266,966 301,383 293,302 269,760 336,628 461,620 494,223 Transient Occupancy Tax $ 113,202 123,813 120,575 125,733 185,580 216,341 232,736 251,170 312,261 332,140 Total $ 2,115,859 2,263,160 2,245,459 2,397,987 2,953,090 2,903,490 3,048,707 3,351,856 3,591,798 4,176,257 33. CITY OF ROSEMEAD, CALIFORNIA :OMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS Fiscal Year Ended June 30, 1990 REVENUES Special assessments Intergovernmental Fines, forfeitures and penalties Use of money and property EXPENDITURES Current: General government Public safety Public works Public recreation Community services Capital outlay Revenue over (under) expenditures Other financing sources, operating transfer from other funds Revenue and other financing sources over (under) expenditures FUND BALANCE, BEGINNING FUND BALANCE, ENDING Traffic Safety Fund Over (Under) Budget Actual Budget 170,000 136,972 (33,028) 170,000 136,972 (33,028) 170,000 136,972 (33,028) 170,000 3 34 136,972 (33,028) 1 t ' State Gas Tax Fund Aid to Cities Fund Over Over ' (Under) (Under) Budget Actual Budget Budget Actual Budget 593,000 641,601 48,601 100,000 (100,000) ' 13,000 4,468 (8,532) - 6,864 6,864 606,000 646,069.. 40,069 100,000 6,864 (93,136) ' 713,590 721,376- 7,786 100,000 - (100,000) 713,590 721,376 7,786 100,000 - (100,000) ' (107,590) (75,307) 32,283 - 6,864 6,864 ' - 75,307 75,307 - - - 864 (107,590) - 107,590 - 6,864 - 6, - - - 74,269 74,269 - ' $(107,590) $ - $ 107,590 S 74,269 $ 81,133 $ 6,864 ' 35 CITY OF ROSEMEAD, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS (continued) Fiscal Year Ended June 30, 1990 Local TransDOrtion Fund Over (Under) Budget Actual Budget REVENUES Special assessments $ - $ - $ Intergovernmental - 13,440 13,440 Fines, forfeitures and penalties - - - Use of money and property - 3,497 3,497 - 16,937 16,937 EXPENDITURES Current: General government - - - Public safety - - - Public works 36,280 50,400 14,120 Public recreation - - - Community services - - - Capital outlay - - - 36,280 50,400 14,120 Revenue over (under) expenditures (36,280) (33,463) 2,817 Other financing sources, operating transfer from other funds - - Revenue and other financing sources over (under) expenditures (36,280) (33,463) 2,817 FUND BALANCE, BEGINNING 59,671 59,671 - FUND BALANCE, ENDING $ 23,391 $ 26,208 $ 2,817 36 1 ' ' i I I I ti I i t ' Community Development Public Transportation Fund Block Grant Fund ' over Over ' (Under) (Under) Budget Actual. Budget Budget Actual Budget $ - $ - $ - $ - $ - $ - ' 540,000 542,286 2,286 615,790 392,597 (223,193), ' 41,000 61,093 20,093 - - - 581,000 603,379 22,379 615,790 392,597 (223,193) - 14,000 11,512 (2,488) 5591400 4761938 (82,462) 45,000 110,762 65,762 - _ 556,790 270,323 (286,467) 559,490, 476,938 .(82,462) 615,790 392,597 223,193) 21,600 126,441 104,841 - - - 600 126 441 104 841 - - - 21, , , ' 595,595 595,595 - 9,373 9,373 - $ 617,195 $ 722,036 S 104,841 $ 9,373 S 9,373 S - ' 37 CITY OF ROSEMEAD, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS (continued) Fiscal Year Ended June 30, 1990 REVENUES Special assessments Intergovernmental Fines, forfeitures and penalties Use of money and property EXPENDITURES Current: General government Public safety Public works Public recreation Community services Capital outlay Revenue over (under) expenditures Other financing sources, operating transfer from other funds Revenue and other financing sources over (under) expenditures FUND BALANCE, BEGINNING FUND BALANCE, ENDING Narcotics Seizure Fund Over (Under) Budget Actual Budget 67,273 67,273 - 3,360 3,360 67,273 70,633 3,360 42,273 - (42,273) 25,000 15,638 (9,362) 67,273 15,638 (51,635) - 54,995 54,995 54,995 54,995 S - $ 54,995 $ 54,995 38 1 i 1 i ' 19 76 Community Park- lands Grant Fund Street Lighting Fund Over Over (Under) (Under) . Budget Actual Budget Budget Actual Budget $ _ $ 295,000 $ 303,374 I $ 8,374 ' tl ;I t 1,600 3,768 2,168 - - - ill 1,600 3,768 2,168 295,000 303,374 8,374 ' - - - 295,000 254,766 (40,234) 20,000 - (20,000) - - - 20,000 - (20,000) 295,000 254,766 (40,234) , ' (18,400) 3,768 22,168 - 48,608 48,608 ' 608 (18,400) 3,768 22,168 - 48,608, 48, 40,764 40,764 - 10,288 10,288 - ' S 22,364 S 44,532 S 22,168 S 10,288 S 58,896 S 48,608 1 t 39 CITY OF ROSEMEAD, CALIFORNIA ' COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS (continued) Fiscal Year Ended June 30, 1990 ' REVENUES Special assessments Intergovernmental Fines, forfeitures and penalties Use of money and property EXPENDITURES Current: General government Public safety Public works Public recreation community services Capital outlay Revenue over (under) expenditures Other financing sources, operating transfer from other funds Revenue and other financing sources over (under) expenditures FUND BALANCE, BEGINNING FUND BALANCE, ENDING 40 ' R. Z'Berg Harris Fund Over (Under) ' Budget Actual Budget 21,990 13,176 (8,814) 21,990 13,176 (8,814) 21,990 12,940 (9,050) ' . 21,990 12,940 (9,050) ' - 236 236 ' - 236 236 S S 236 $ 236 1 t I 1 1 1 1 I 1 I 1 CITY OF ROSEMEAD, CALIFORNIA COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - ALL SPECIAL REVENUE FUNDS (continued) Fiscal Year Ended June 30, 1990 Totals REVENUES Special assessments Intergovernmental Fines, forfeitures and penalties use of money and property EXPENDITURES Current: General government Public safety Public works Public recreation community services Capital.outlay Over (Under) Budget Actual Budget $ 295,000 $ 303,374 $ 8,374 1,870,780 1,603,100 (267,680) 237,273 204,245 (33,028) 600 55 83,050 27,450 , 2,458,653 2,193,769 (264,884) 14,000 11,512 507,273 391,738 11454,270 1,359,476 41,990 12,940 556,790 270,323 25.000 15,638 (2,488) (115,535) (94,794) (29,050) (286,467) (9,362) 2,599,323 2,061,627 (537,696) (140,670) 132,142 272,812 .Revenue over (under) expenditures other financing sources, operating transfer from-'other funds Revenue and other financing sources over (under) expenditures FUND BALANCE, BEGINNING FUND BALANCE, ENDING _ 75,307 (14'0,670) 207,449 789,960 789,960 $ 649,290 $ 997,409 75,307 348,119 $ 348,119 41 1 1 CITY OF ROSEMEAD, CALIFORNIA ASSESSED VALUATIONS OF TAXABLE PROPERTY 1 Last Ten Fiscal Years 1 1 Secured Assessed Fiscal Personal Unitary and Operating Year Land Improvements Property Non-unitary Property (2) ' 1980-81 $53,478,360 $ 18,267,850 $ 1,097,860 $ - . 1981-82(1) 227,167,147 283,892,384 3,899,336 - 1 1982-83 246,372,524 321,301,957 4,927,752 - 1 1983-84 261,079,758 357,506,952 4,753,925 - 1984-85(3) - 1 1985-86 337,467,010 554,010,610 30,623,894 - 1986-87 372,828,816 600,750,171 57,430,515 - 1 1987-88 423,556,926 667,096,486 60,746,385 - 1 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 1 (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 1 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. 1 (2) Effective with fiscal year 1988-89, Unitary and Operating Non-unitary assessed valuation are listed separately. 1 (3) 1984-85 Assessed Valuation detail not available. Source: Los Angeles County Auditor-Controller, Tax Division ' . 1 1 1 42 1 1 P { 1 I i III l 1 f I Ii ' ``II i Unsecured Assessed ~ Net Assessed Personal Property Land Improvements Property Total Exemptions Value $ 0 $ 65,663,030 $ 777,040 $139,284,140 $4,824,100 $134,460,040 1 0 38,355,958 10,647,235 563,962,060 19,739,249 544,222,811 ' 0 14,877,917 10,351,170 597,831,320 20,373,635 577,457,685 0 17,686,006 11,771,608 652,7981249 19,081,156 633,717,093 ~ ' I 708,325,166 i 0 10,441,676 44,234,638 976,777,828 18,142,141 958,635,687 f ' 0 11,393,530 38,789,686 1081 192 718 26,5b7,377 1,054,685,3 q 41 I{ 0 11,518,291 44,963,801 1207,881,889 26,639,873 1,181,242,016 ' 0 11r690r310 285 42i915r 1255945r408 i 28i171r346 1r227i774i062 ' 0 14,019,566 48,546,323 1415,812,119 26,320,466 1,389,491,653 ' NET PROPERTY VALUE Millions $1600- $1400- $1200- $1000- $800- 1 $600 II ' $400 $200 1 $O IYYa-n mn-ep 198-e0 uu-It 1081 , -88 lies-ia 1989-97 un-u nu-69 1080-90 ' 43 CITY OF ROSEMEAD, CALIFORNIA SPECIAL ASSESSMENT LEVIES AND COLLECTIONS LIGHTING AND MAINTENANCE DISTRICT Last Ten Fiscal Years Current Percentage Assessment Assessment Collected Fiscal Year Levy Collected Currently 1982-83 144,851 160,668 110.9% 1983-84 138,450 169,845 122.7 1984-85 187,936 160,997 85.7 1985-86 206,704 193,097 93.4 1986-87 223,795 215,186 96.2 1987-88 250,406 241,257 96.3 1988-89 285,712 275,977 96.6 1989-90 315,287 304,072 96.4 Note: Data for fiscal years prior to 1982-83 is not available. 44 ' CITY OF ROSEMEAD, CALIFORNIA ' COMPUTATION OF LEGAL DEBT MARGIN June 30, 1990 1 1 ' Total assessed valuation ' Debt limit: 3.75% of total assessed valuation ' Amount of debt applicable to debt limit: Total bonded debt $ 11,995,000 Less tax allocation notes exempt by law 11,995,000 ' Total amount of debt application to debt limit ' Legal debt margin 1 1 45 $ 2,441,020,018 $ 91,538,251 $ 91,538,251 CITY OF ROSEMEAD, CALIFORNIA RATIO OF NET BONDED DEBT TO ASSESSED VALUE AND PER CAPITA Last Ten Fiscal Years Fiscal Year 1980-81 1981-82 1982-83 1983-84 1984-85(1) 1985-86 1986-87 1987-88 1988-89 1989-90 Population 42,985 44,070 44,914 45,737 46,208 46,627 46,893 47,425 47,707 51,156 Total Assessed Value $ 139,284,140 563,962,060 597,831,320 652,798,249 976,777,828 1,081,192,718 1,207,881,889 1,255,945,408 1,415,812,119 Gross Bonded Debt $ 3,820,000 2,955,000 2,045,000 7,945,000 6,375,000 5,500,000 4,550,000 14,930,000 13,510,000 11,995,000 (1) 1984-85 Assessed Valuations detail not available. 46 Less: Debt Service Fund Avail. $ 3,039,293 2,955,000 2,045,000 3,481,636 3,825,654 1,798,970 972,328 3,176,706 2,948,614 3,079,126 1 1 1 1 1 1 1 Net Bonded Debt $ 780,707 4,463,364 2,549,346 3,701,030 3,577,672 11,753,294 10,561,386 8,915,874 Ratio of Net Bonded Debt to Assessed Debt .56 .70 .39 .34 .99 .84 .63 Net Bonded Debt Per Capita $ 18.16 97.59 55.17 79.38 76.29 247.83 221.38 174.29 47 CITY OF ROSEMEAD, CALIFORNIA RATIO OF ANNUAL DEBT SERVICE EXPENDITURE FOR TOTAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES Last Ten Fiscal Years Fiscal Total Debt Year Principal Interest Service 1980-81 $1,550,000(2) $ 269,600 $1,819,600 1981-82 323,847 865,000 1,188,847 1982-83 910,000 140,350 1,050,350 1983-84 1,310,000(2) 329,169 1,639,169 1984-85 1,570,000 473,462 2,043,462 1985-86 875,000 404,000 1,279,000 1986-87 950,000 346,875 1,296,875 1987-88 1,000,000 902,173 1,902,173 1988-89 1,420,000 1,218,143 2,638,143 1989-90 1,515,000 1,101,760 2,616,760 Total (1) General Expenditure $ 7,791,172 8,136,627 9,144,.092 10,184,769 11,564,045 11,042,691 16,535,507 15,241,264 20,039,703 20,942,080 Debt Service To Total General Expenditure $ 23.35 14.61 11.49 16.09 17.67 11.58 7.84 12.48 13.16 12.50 (1) Includes All Governmental Fund Types. (2) Premium for Defeasement of Bonds not included. 48 1 1 1 r r 1 1 r r r 1 1 r 1 1 1 1 r r TOTAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES Millions 612 610 i8 68 N 62 60 weo-et Millions 625 620 615 610 65 So 1985-85 1986-87 1987-85 1988-89 1989-90 49 1991-92 1982-96 less-6+ 199+-65 ' CIT Y OF ROSEMEAD, CALIFORNIA PROPERTY TAX RATES - ALL OVERLAPPING G OVERNMENTS (Pe r $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 ' 1980-81 0 4.003500 1.401600 .542900 .115900 .006200 6.070100 1981-82 0 1.000827 .317126 .104200 .027019 .001331 1.450503 , 1982-83 0 1.000604 .295449 .110918 .023521 .001204 1.431696 1 4 017284 001126 385301 1 ' 1983-84 0 1.000649 .255128 .111 1 . . . 1984-85 0 1.000578 .176862 .134921 .015867 .000989 1.329217 ' 1985-86 0 1.000442 .166341 .102660 .016081 .000875 1.286399 1986-87 0 1.000000 .142800 .078762 .013598 0 1.235160 ' 1987-88 0 1.005051 .129215 .064613 .012257 0 1.211136 1988-89 0 002781 1 115568 048900 010487 0 177736 1 ' . . . . . 1989-90 0 1.002242 .109700 .048900 .006944 0 1.167700 ' Source: Tax Rates By Tax Rate Areas , Los Angeles County Tax Col lector , , 50 I I I I I I I I LJ I I I I LJ I I I I I CITY OF ROSEMEAD, CALIFORNIA COMPUTATION OF DIRECT AND OVERLAPPING BONDED DEBT June 30, 1990 1989-90 Assessed Valuation: ,$1,011,109,603 (after deducting $218,098,285 redevelopment tax allocation increment) Direct and Overlapping Bonded Debt: $ Applicable Los Angeles County 0.292$ Los Angeles County Building Authorities 0.292 Los Angeles County Superintendent of Schools 0.292 Los Angeles County Flood Control District 0.306 Los Angeles County Flood Control District Certificates of Participation 0.306 Metropolitan Water District 0.163 Los Angeles'Community College District Certificates of Participation 0.261 E1 Monte Union High School District Certificates of Participation 12.973 Other School Districts and Certificate of Participation VARIOUS City of Rosemead 100.000 Total Direct and Overlapping Debt: Ratios to Assessed Valuations: Direct Debt -0- $ Total Debt 0.73% 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 6/30/90: * Excludes tax allocation bonds. Source: California Municipal Statistics, Inc. 51 $81,500 $5.6,547 $19,942 Debt 6/30/90 $ 255,792 4,515,900 11,469 486,152 136,,338 1,167,993 82,032 734,920 32,956 -0-* $7,423,552 $1,980,893 CITY OF ROSEMEAD, CALIFORNIA DEMOGRAPHIC STATISTICS Last Ten Fiscal Years ' Income Unemployment Fiscal Year Population Households Per Capita Rate (1) (2) (3) (3) ' 1980-81 42,985 13,118 11,735 6.9 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 15,118 7.0 , 1985-86 46,627 13,510 16,058 6.7 1986-87 46 893 13 529 16,988 9 5 , , . 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 4.7 ' 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 the City of Rosemead. for the County of Los Income Per Capita and Angeles, whi Unemployment ch includes Rate ' specifically for the Ci ty of Rosemead is not available. Data unavailable at this time. , 52 I 1 s0 40 s0 60 10 0 so 40 60 110 10 0 DEMOGRAPHIC STATISTICS 7a.....4. 76e..an4. 53 1060-61' 1►01-66 1066-66 1666-64 1044-66 ®Imam Par Capita =Neuulnl4. ®Pepulatlen 166!{-66 1666-67 1067-66 104466 Mmen. Per Caplts CD H"as 6elda ®Pepubtlen I CITY OF ROSEMEAD, : CALIFORNIA PRINCIPAL TAXPAYERS Fiscal Year Ended June 30, 1990 1 ' I. Principal Property Taxpayers Percentage Of Total ' Assessed Assessed Valuation Valuation ' Southern California Edison Company $180,895,810 68.5 % California Federal Savings 44,337,539 16.8 Chicago Title Insurance & Trust Co mpany 18,356,443 7.0 CNC Plaza 5,222,400 2.0 Diamond Square 3,318,417 1.3 Lucky Plaza 3,089,130 1.2 San Gabriel Center 2,346,000 .9 TraveLodge, South 2,305,000 .9 ABC Plaza 2,290,184 .9 TraveLodge, East 1,851,228 .7 ' $264,012,151 100.2 Note: Principal property taxpayers and assessed valuations presented' here reflect the Rosemead Red evelopment Agency Project Area only as the City of Rosemead is a non-property tax city. t II. Principal Sales Taxpayers May Company ' Montgomery Ward Toys-R-Us Reliable Lumber Builders' Square Builders' Emporium Alpha Beta Charlie Brown's ' American Directory Publishers Sav-On/Osco Drug Stores The above Principal Sales Taxpayers represent approximately ' fifty-one percent of the sales tax revenue received by the City of Rosemead. I Source: I. Los Angeles County Auditor-Controller, Tax Division II. City of Rosemead Sales Tax Records 54 CITY OF ROSEMEAD, CALIFORNIA SCHEDULE OF INSURANCE IN FORCE ' June 30, 1990 ' Policy Number ' Southern California Joint Powers Insurance Authority ' State Compensation Insurance Fund 228962-90 ' Kelley, Jiggins, Towle & Blue 05743382 ' Kelley, Jiggins, Towle & Blue 9922993-03 Kelley, Jiggins, Towle & Blue 2781100. ' Kelley, Jiggins, Towle & Blue CP8119571C 1 1 1 1 t ' Source: City Finance Department 55 Expiration Date Type of Coveraqe 07/01/91 General Liability 12/31/90 Workers Compensation coverage 10/10/91 Public Employees Blanket Bond 10/19/91 Boiler and Machinery 09/29/92 Notary Public Bond Error & Ommissions 07/01/91 Property Insurance i i I 1 CITY OF ROSEMEAD, CALIFORN IA ' CONSTRUCTION ACTIVITY Last Ten Fiscal Years ' Number of Building Permit Number of Fiscal Residential Valuations (In Thousands) Building Year Dwelling Units Residential Nonresidential Total Permits Issued ' 1980-81 59 10,038,520 3,425,380 13,463,900 446 1981-82 37 3,849,223 44,277,710 48,126,933 369 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 8 29 858 698 541 1986-87 114 18,613,860 11,244,83 , , 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 30,461,177 794 ' 1 1 1 ' 56 I 1 I Streets & Alleys CITY OF ROSEMEAD, CALIFORNIA MISCELLANEOUS STATISTICS June 30, 1990 The City of Rosemead is located in Los Angeles County, California approximately nine miles east of the City of Los Angeles. Incorporated in 1959, the City of Rosemead now encompasses a total land mass of 5.5 square miles and operates as a general law city under a Council -.City Manager form of government. The Rosemead Redevelopment Agency, activated on January 4, 1972, includes 511 acres within the City's 5.5 square miles. Population Land Area Parks Percentage Of Land Use: Residential Public Facilities Commercial (stores & shops) Mixed Commercial/Residential ' Office & Light Industrial ' Public Facilities: Community Centers Swimming Pools ' Libraries Gymnasiums Ball Diamonds (lighted) ' Tennis Courts (lighted) Education Facilities: ' Elementary Schools Secondary Schools High Schools Fire Protection: * ' Number of firefighters and officers Police Protection: ' Parking Control (personnel) Police Protection (sworn personnel) ' Major Employers and Number of Employees: Southern California Edison Company California Federal Savings . Montgomery Ward Ticor Title Insurance Co. May Company Rosemead Sheraton ' Freeway Nissan Builders' Emporium 51,156 5.5 square miles 74.42 miles 50 acres 64 $ 14 9 7 6 100 $ 2 2 2 1 4 5 10 3 2 36 3 28 4,100 817 500 380 200 180 100 60 * 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 Sheriff's Department for all police services with the exception of parking control which is provided by City personnel. 57 a City of ROSEMEAD 01 \Pasaden Los Angeles _ 05 1 1 1 . 1 1 a San Bernardino 1 ■ iverside Anaheim Lei g B 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 61,156. 58 11 1 1 1 i i 1 i [1, 1 1 1 1 1 1 1 1 i 1