HomeMy WebLinkAbout4.08 Audit Report FY 89-90 CITY OF DUBLIN
AGENDA STATEMENT
MEETING DATE: February 25, 1991
SUBJECT :Audit for period ending June 30, 1990.
EXHIBITS ATTACHED :June 30, 1990 audit; Auditor's Recommendations
for Improvements in Internal Control; and
the Finance Directors responses to the
Auditor's Recommendations.
RECOMMENDATION,',;' ;►��`Accept, review and file the June 30, 1990
r .. audit report; accept the Management Letter
and the Finance Director's responses.
FINANCIAL STATEMENT :(See attached reports)
DESCRIPTION: The City's June 30, 1990 audit has been completed and is
presented to the City Council with this agenda statement. There are a few
differences between this year's audit report and those of the prior years.
The first change is that this year the audit report is called the
Comprehensive Annual Financial Report rather than the Audit Report. This is
due to the additions to the report. The Comprehensive Annual Financial
Report includes three separate sections.
The first section is the Introductory Statement. The Introductory Statement
identifies some facts that affected the financial soundness of the City's
operations. The Statement identifies, for example, the form of City
government that applies to Dublin (the reporting entity). This section also
recognizes the economic conditions of the City, for example, the top twenty
sales tax generators, and the top five companies with the largest number of
employees in Dublin; finally it examines the risk management coverage and
the cash management procedures used by the City.
The second section starts on page 13 and is the traditional auditors report
and audited financial statements. This section is very similar to past
years' audit reports. The City once again received an unqualified auditors
opinion concerning the Financial Reports, which is the highest opinion that
can be issued.
The final section begins on page 61 and includes data that is useful to
companies currently located in Dublin as well as new companies considering
whether to located in Dublin. This section, for example, provides the value
of assessed taxable property for the last 8 years, property tax rates for
overlapping governments, the size and ranking of the City of Dublin
compared to all California cities, etc. There are fourteen statistical
schedules showing current facts and trends over the last eight years.
The expanded format of this year's Comprehensive Annual Financial Report,
will enable the City to apply for the National Certificate of Achievement
for Excellence in Financial Reporting from the Governmental Finance
Officers Association of the United States and Canada. If certified the
Dublin will receive a plaque commemorating the fact that these financial
reports uphold the highest standards in governmental accounting and
financial reporting.
One of the usual audit reports is the auditor's `Management Letter' . A
Management Letter provides the auditor with the opportunity to identify
areas where improvements can be made to the Internal Control procedures.
The Finance Director reviewed those recommendations and met with the
Council 's audit Committee and the City Manager to discuss the
recommendations and to provide his responses. The Committee reviewed the
auditors recommendations and the Finance Director's responses and concur
with the responses of the Finance Director. Both the Management Letter and
the Finance Director's memo are attached.
RECOMMENDATION:
Staff recommends that the City Council accept, review, and file the
Comprehensive Annual Financial Report for the Fiscal Year ended June 30,
1990, and the Management Letter and The Finance Director's responses.
MAZE &
ASSOCIATES
ACCOUNTANCY CORPORATION
Creekside Oaks
1470 Maria Lane- Suite 200
Walnut Creek, California 94596
(415) 930-0902 • (916) 972-7333
February 13, 1991
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D
FEB 13 1991
Richard Ambrose, City Manager OF DUMIiN'
City of Dublin
100 Civic Plaza
P.O. Box 2340
Dublin, CA 94568
Dear Rich:
We are pleased to enclose a draft copy of the City of Dublin
Recommendations for Improvements in Internal Controls for the year ended
June 30, 1990. Please review it and let us know if you have any
questions.
Yours very truly,
J. Scott Maze
JSM:sls
Enclosures
CITY OF DUBLIN
RECOMMENDATIONS FOR IMPROVEMENTS
IN INTERNAL CONTROL
YEAR ENDED JUNE 30, 1990
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The Honorable Mayor and
City Council
City of Dublin
Dublin, California
i
We have audited the general purpose financial statements of the City of Dublin
for the year ended June 30, 1990, and have issued our report thereon dated
December 21, ' 1990. As part of our audit, we made a study and evaluation of the
system of internal accounting control to the extent we considered necessary to
evaluate the system as required by generally accepted auditing standards. The
purpose of our study and evaluation was to determine the nature, timing, and
extent of the auditing procedures necessary for expressing an opinion on the
financial statements. Our study and evaluation was more limited than would be
necessary to express an opinion on the system of internal accounting control
taken as a whole.
Bible for establishing Management is responsible g ining a -system of internal
accounting control. In fulfilling this e lity, estimates and judgments
by management are required to asses SpAted benefits and related costs of
control procedures. The object' stem are to provide management with
reasonable, but not absolut that assets are safeguarded against loss
from unauthorized use or dis n, and that transactions are executed in
accordance with management's thorization and recorded properly to permit the
preparation of financial statements in accordance with generally accepted
accounting principles.
Because of inherent limitations in any system of internal accounting control,
errors or irregularities may nevertheless occur and not be detected. Also,
projections of any evaluation of the system to future periods is subject to the
risk that procedures may become inadequate because of changes in conditions or
that the degree of compliance with the procedures may deteriorate.
Our study and evaluation made for the limited purpose described in the first
paragraph would not necessarily disclose all material weaknesses in the
system. Accordingly, we do not express an opinion on the system of internal
accounting control of the City of Dublin taken at whole. Our study and
evaluation disclosed no condition that we believe to be a material weakness.
However, our audit disclosed the following areas in which internal controls
could be strengthened:
CITY OF DUBLIN
MANAGEMENT RECOMMENDATIONS
RECOMMENDATION 1 - GRANT REIMBURSEMENTS SHOULD BE BILLED MORE TIMELY
During our Single Audit Act work we noted that a total of $147 ,121 in
Federal Aid Urban grant costs were incurred in July and December 1989, but
that reimbursement was not requested for these costs until April 1990.
Reimbursement should be requested for costs incurred under such grants as
soon as possible after being incurred; progress billings are appropriate.
RECOMMENDATION 2 - CLOSING THE BOOKS AND PREPARING FOR THE AUDIT SHOULD BE
GIVEN A HIGHER PRIORITY
The later the audit report is received, the less valuable it is to the
City. The year-end portion of our audit was carefully planned and
coordinated with Finance Department staff during our interim work in June
and was to be performed in October, which would have allowed a November
release date for the audit report. Unfortunately, we were forced to
discontinue our work in October because the books were not yet ready for
audit; significant accounting entries relating to the capitalization of the
Civic Center and the year's fiscal agent act' y had not been prepared.
All the information necessary to complete D dit was not provided until
December. U
We understand the Finance Dep t small and that unanticipated
demands can disrupt the wo k e. However, we believe a higher
priority should be giv ,� ng the books and preparing for the audit.
If temporary work-loa s exceed the Finance Department's capacity,
consideration should b even to using temporary employees or to using us
as consultants to help in closing the books.
RECOMMENDATION 3 - FISCAL AGENTS ACCOUNTING SHOULD BE PERFORMED ON A MONTHLY
BASIS
The City is required under the terms of its Certificates of Participation
issues to maintain significant cash balances with fiscal agents.
Currently, the transactions and activity generated by these fiscal agents
are not recorded by the Finance Department until year end, even though
monthly statements are submitted to the City. Monthly evaluation and
recording of the fiscal agent accounts activity would minimize the chance
for error as well as correctly reflect the account balances on a timely
basis.
RECOMMENDATION 4 - A SEPARATE PRIOR YEAR ADJUSTMENTS ACCOUNT SHOULD BE
CONSIDERED
Generally accepted accounting principles do not allow prior period
adjustments to fund balance except for those few material items which are
both unusual and non-recurring. The City, on the other hand, employs a
strong budgetary control system and including prior year items in the
current year can degrade this control. Over the years the number of prior
year adjustments has been reduced to a level well below that of our other
city clients, but there will always be a few such unavoidable adjustments
due to events entirely beyond the City's control.
CITY OF DUBLIN
MANAGEMENT RECOMMENDATIONS
RECOMMENDATION 4 - A SEPARATE PRIOR YEAR ADJUSTMENTS ACCOUNT SHOULD BE
CONSIDERED (continued)
In order to isolate these adjustments and prevent them from degrading the
budgetary controls, we recommend a Prior Year Adjustment account be
established.
All prior year adjustments would be entered to this account, which would be
presented as a separate line item in the City's financial statements. A
budget amount could even be established if the City wished, based on a
review of the nature of past adjustments. This approach would be in
accordance with generally accepted accounting principles while allowing the
City to maintain its strong budgetary controls.
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CITY OF DUBLIN
STATUS OF PRIOR YEAR RECOMMENDATIONS
Recommendation Status
Recommendation 1 City Management requested a review No change.
of staffing assignments which might The
compromise an employee with regard cost/benefit
to the segregation of duties. Our of any change
review of staffing assignments does not
constituted an expansion of our result in an
normal review of internal accounting overall
controls and procedures and included advantage to
interviews of employees in the the City.
Finance, Community Development, City
Manager's and City Clerk's
Departments. Employees were
interviewed to determine the
functions they performed and these
interviews were summarized into
systems descriptions for th cash
receipts, cash disbursem
payroll, investment c' 1
reporting and bu tems.
The employe in nding of
their t e iewed for
con . accuracy. The tasks
a Gres described by the
em es were evaluated by
selecting a sample of transactions,
auditing supporting documents and
tracing each transaction selected to
the general ledger. For the items
tested, the internal accounting
controls and procedures were found
to be operating as described and the
transactions were recorded
properly. However, our work
indicated the concentration of
duties described below.
The Finance Director has been
assigned duties which could be
segregated and thereby strengthen
internal control. The Finance
Director assignments are divided
into the following three categories:
• Accounting controls
• EDP management and controls
• Cash management (Treasurer)
CITY OF DUBLIN
STATUS OF PRIOR YEAR RECOMMENDATIONS
Recommendation Status
Recommendation 1 Although the assignments of all of
(Continued) these functions to one employee is
not unusual for a city this size, we
were asked to point out areas where
internal controls could be
strengthened. If the City-wishes to
strengthen its internal controls, it
should assign someone outside the
finance department the
responsibility of authorizing banks
to make wire transfers. The current
procedures provide for the Finance
Director to authorize most wire
transfers between banks. Although
the City Manager approves these
transfers prior to initiAtion, it is
usually the Finance D `e'C or who
deals solely withr t,e' r7�. The
City should cod i�\\ cost of
implementq n �2is
reco i �n ompared with the
b n. eived in order to
• the feasibility.
Recommendation 2 uriing the year ended June 30, 1989 Not
the General Fund transferred over $1 implemented;
million to the Enterprise fund, although we
These funds were to be used to have been
finance the construction of the informed
Civic Center. Such transfers do not subsequent
represent payments for use of the transfers
Civic Center and should be recorded will be
as Contributed Capital. Contributed properly
Capital represents funds contributed accounted
to a proprietary fund which are to for.
be used for non-operating purposes
such as the construction or
acquisition of fixed assets.
Recommendation 3 As of June 30, 1990 the Vehicle Not
Replacement Internal Service Fund implemented.
had retained earnings of over
$270,000. Generally accepted
accounting principles define an
Internal Service Fund as a fund
used" . . . to account for . . .
services provided by one department
. . , to other departments on a
cost-reimbursement basis" . As such,
profits accumulated ought to be
reduced in subsequent years by
reducing charges to other
departments.
CITY OF DUBLIN
STATUS OF PRIOR YEAR RECOMMENDATIONS
Recommendation Status
Recommendation 3 If the City is attempting to charge
(Continued) vehicle users for replacement value
of vehicles, generally accepted
accounting principles require that
amounts which are charged in excess
of cost be recorded as contributed
capital.
Recommendation 4 During the year the City recorded Not
several entries against beginning implemented.
fund balance for .amounts relating to See current
prior years. Some of these entries year
were for less than $5,000. Under recommendations.
the clean surplus theory of
generally accepted accounting
principles, adjustments to beginning
fund balance are expressly limyted
to only specific types o nt}'}es
,
which must be materi' g} »' t.
Such entries a e. py�rare.
Recommendation 5 As o_f - fiel 90, the Fiscal Partially
Age t); `��U statements for June Implemented.
198 V Pe missing. We understand See current
the City was in the process of year
changing Agents and that significant recommendations.
errors had been made by the prior
Agent.
The City should request regular,
timely statements from its new
Agent. These statements should be
reviewed for accuracy and
completeness and all activity should
be recorded by the Finance
Department as the statements are
received, instead of after year end.
We wish to express our appreciation for the courtesy and cooperation extended
to us by Phil Molina and his staff during our audit.
December 21, 1990
February 21, 1991
TO: Audit Committee
FROM: Finance Directo0l__�,
SUBJECT: Response to the auditor's management letter
Current Issues:
ITEM #1 Invoice grant reimbursements in a more timely manner. During the last
fiscal year there was a change in the staff person responsible for
generating the data on the Federal Aid Urban funds to be invoiced by
Finance. Don Santina replaced Richard Lierly, and Don was not immediately
informed of the need to report the amounts spent on the project to Finance
on a timely basis. This resulted in a delay in the initial billing, but
this was resolved well in the year and the auditors were informed of the
correction.
ITEM #2 Give a higher priority to the audit and the closing of the books. Each
year the City attempts to minimize the time frame for completing the City's
audit. During the audit process this fiscal year there were a number of
situations that caused delays in closing the books. The first was the start
up of the business license application system. This condition alone. was
planned for, though it. took longer than originally expected. But in
addition the Mainframe IBM system 36 incurred a disk crash in the middle of
the procedures for closing the books in-September/October. Though the
on-line activities were delayed by only one week, the off-line activities
such as the Account Receivables, and the Business License system as well a
some utility programs were not back on line for a period of one month. This
was due to the fact that only the Finance Director can both close the books
and also perform the necessary reprogramming of the system. The City needs
to consider whether the value of receiving the audit 30, 60, or 90 days
after the end of August warrants additional cost of staff or temporary
contract assistance.
ITEM #3 Fiscal agent accounting should be performed monthly. The Fiscal agent,
Bankers Trust, holds the amount of reserves for the current COP issue.
Under trust agreements the fiscal agent is wholly responsible for the
defeasance of the 1985 COP issue. The auditors are saying that it would be
appropriate to reconcile that reserve account monthly. At this time the
trustee bank generates periodic reports to the City, and once a year it
generates a detailed reconciliation of the account. The reconciled amounts
are verified and posted at year end. Since the trustee is legally obligated
for the amounts in the reserves and since the reserve amounts are used only
twice a year for purposes of making the semiannual debt payments, even
though it would be nice to perform a monthly reconciliation I do not agree
that a monthly reconciliation of the accounts would serve any useful
purpose given the time constraints already placed on the department.
February 21, 1991
ITEM #4 A separate prior year adjustment account should be considered. The
auditors feel strongly that unless the prior period adjustment is material
(material is usually defined as 5% of the funds expenditures) it should be
posted in the current years reports as either an expense or a revenue.
Normally a prior period adjustment would be posted to the current year's
Fund Balance. The Generally Accepted Accounting Procedures current narrow
definition of `prior period adjustment' is :
(FASB #16)A prior period adjustment is either a correction
of an error in a prior-period statement, or an adjustment
for the realization of the tax benefits of the
preacquisition operating-loss carryforward of purchased
subsidiaries.
A prior period correction is an event that occurs which depends
primarily on the determination of persons other than management,
and which should properly be posted to a prior year. For
example, assume that a project that was budgeted at $1,500,000
was completed in the prior year and invoices for services were
paid in the prior year totalling $1,000,000 for the project.
Subsequently, the vendor realized that the original invoice did
not include the freight charges totalling $5000.00. The City
received the bill for $5000 in the present year. Management
agrees that the invoice is valid and feels that that $5000
invoice should be a prior-period adjustment posted directly to
Fund Balance. The auditors, on the other hand, feel that since
the amount is not material it should be posted as a current year
item. The auditors allowed within this recommendation that the
prior-period amount could be listed -as a separate activity-in the
funds so as to not distort the results of the current budgetary
data.
PRIOR YEAR ISSUES:
ITEM #1 Last year the audit committee reviewed this recommendation and
agreed that changes would result in neither increasing the
security of assets nor improving City's current operating
procedures. No other comment.
0
ITEM #2 The auditors would like to see an actual separation within the
Dublin Information Inc. , Retained Earnings of the amount provided
by the General Funds. This amount would be called `Contributed
Capital ' and would not affect the totals of either the Fund
Balance, Retained Earnings, Assets or Liabilities of the Funds.
Since last year's recommendation staff has made it a point to
February 21, 1991
document all equity transfer from one fund to other funds as
`Equity Transfers' during the year under audit and the current
year.
ITEM #3 Last year the auditors questioned management's intents because
the auditors claimed that the City's Internal Service Fund was
charging more than it cost on an annual basis for equipment
usage. Staff explained that the Internal Service Fund reserves
should be allowed to increase each year by the inflation factor
for that year. The auditors disagreed. In order to resolve this
dichotomy, the internal service fund (ISF) charges were
decreased in 89-90, and according to the audit (page 21) the
revenue from charges equalled $143,255 while the total expenses
for the fund equaled $143,952. This left a negative operating
revenue flow of $697. This is a very good result (revenues
equaled 99.51% of expenses) given the fact that during the budget
period, the timing for setting the ISF charges must be completed
before the final decision as to which assets to acquire had been
made. Note, however, that interest income adds $16,703 to the
reserves. The auditors want to eliminate the results of interest
income by decreasing charges so the total net income is zero.
I recommend that no change be made to the current methods of
determining internal service fund charges.
ITEM #4 This item regarding prior period adjustments was discussed
above.
ITEM #5 This item regarding trustee statements was discussed above.
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City of Dublin
California
Comprehensive Annual Financial Report
For Fiscal Year Ended .
June 30, 1990
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CITY OF DUBLIN
DUBLIN, CALIFORNIA
COMPREHENSIVE
ANNUAL FINANCIAL REPORT
FOR THE YEARS ENDED JUNE 30, 1990 AND JUNE 30, 1989
Prepared by
DEPARTMENT OF FINANCE
INTRODUCTORY SECTION
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 1990
TABLE OF CONTENTS
Page
INTRODUCTORY SECTION
Table of Contents . . . . . . . . . . . . . . . . . . . . . . i
Letter of Transmittal . . . . . . . . . . . . . . . . . . . . 1
Elected Officials and Administration
Personnel . . . . . . . . . . . . . . . . . . . . . . . . . 10
Organization Chart of Major City Activities . . . . . . . . . 11
FINANCIAL SECTION
Independent Auditor's Report . . . . . . . . . . . . . . . . . . 13
General Purpose Financial Statements
Combined Balance Sheet - All Fund Types and
Account Groups . . . . . . . . . . . . . . . . . . . . . . . 15
Combined Statement of Revenues, Expenditures
and Changes in Fund Balances - All Governmental
Fund Types . . . . . . . . . . . . . . . . . . . . . . . . . 18
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual -
General, Special Revenue and Capital Projects Fund
Types . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings - All Proprietary
Fund Types . . . . . . . . . . . . . . . . . . . . . . . . . 21
Combined Statement of Cash Flows -
All Proprietary Fund Types . . . . . . . . . . . . . . . . . 22
Notes to Financial Statements . . . . . . . . . . . . . . . . 23
Combining Fund Statements
General Fund
Comparative Balance Sheet . . . . . . . . . . . . . . . . . . 40
Statement of Revenues, Expenditures and
Changes in Fund Balance Budget and Actual . . . . . . . . . . 41
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CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 1990
TABLE OF CONTENTS
Page
Special Revenue Funds
Combining Balance Sheet . . . . . . . . . . . . . . . . . . . 45
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances. . . . . . . . . . . . . . . . . 47
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances - Budget and Actual . . . . . . 49
Capital Projects Fund
Comparative Balance Sheet . . . . . . . . . . . . . . . . . . 56
Statement of Revenues, Expenditures and
Changes in Fund Balance . . . . . . . . . . . . . . . . . . 57
Agency Fund
Statement of Changes in Assets and Liabilities . . . . . . . 59
STATISTICAL SECTION
Governmental Expenditures by Function
All Governmental Fund Types - Last Eight Fiscal
Years . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
General Governmental Revenues by Source - All
Governmental Fund Types - Last Eight Fiscal
Years . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Assessed and Estimated Actual Value of
Taxable Property - Last Eight Fiscal Years . . . . . . . . . 64
Property Tax Rates - All Overlapping
Governments - Last Eight Fiscal Years . . . . . . . . . . . 65
Computation of Legal Debt Margin . . . . . . . . . . . . . . 66
Computation of Direct and Overlapping Debt . . . . . . . . . 67
Demographic Statistics - Last Eight Fiscal
Years . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
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CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 1990
TABLE OF CONTENTS
Page
Property Value, Construction, and Bank Deposits
- Last Eight Fiscal Years . . . . . . . . . . . . . . . . . 69
California Public Employees Retirement System
Funding Analysis - Last Three Fiscal Years . . . . . . . . . 70
Miscellaneous Statistical Data . . . . . . . . . . . . . . . 71
Schedule of 1985 Certificates of Participation
Coverage - Last three Fiscal Years . . . . . . . . . . . . . 72
Schedule of 1988 Certificates of Participation
Coverage - Last Two Fiscal Years . . . . . . . . . . . . . . 73
Property Tax Levies and Collections -
Last Seven Fiscal Years . . . . . . . . . . . . . . . . . . 74
Principal Taxpayers . . . . . . . . . . . . . . . . . . . . . 75
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CITY OF DUBLIN
;�,! P0. Box 2340, Dublin, California 94568 City Offices, 100 Civic Plaza, Dublin, California 94568
To the Honorable Mayor, January 8, 1991
Members of the City Council ,
and City Manager
City of Dublin, California
Transmittal Letter Introduction
This is the Comprehensive Annual Financial Report for the City of Dublin for the
year ended June 30, 1990. The responsibility for the accuracy, completeness,
and fairness of the material presented in this report rests with the City.
The report is prepared in conformance with the guidelines of the Government
Finance Officers Association, and the governmental accounting requirement of the
American Institute of Certified Public Accountants. This report fairly presents
in all material respects the financial position, results of operations and the
current economic environment of the City of Dublin.
Report Format
The Introductory Section provides narrative information about the City's
background, important recent activities and the management organization
structure. This information appears in the Transmittal letter, directory of City
Officials, and the organization chart.
The Financial Section contains the audited financial statements, and the
opinion of the City's Independent Auditors concerning the fairness of the
information in the financial statements.
The Statistical Section provides historical and perspective information about
the City's financial , economic and industrial environment.
The Reporting Entity
Dublin is a General Law City. It was incorporated in the State of California in
1982. Dublin is referred to as a contract city, because many of the common
municipal functions are provided through contracts with both private companies
and other government agencies. The City police services, for example, are
provided through a contract with the Alameda County Sheriffs Department. The
street maintenance services, and park maintenance services are currently
provided by contracts with MCE Corporation. City engineering services are
augmented with on-site engineers provided by Santina & Thompson Inc. The
Planning Department depends heavily on contracted help from professional
planners to provide the additional services required for land use development.
The City established a separate legal entity called Dublin Information Inc. ,
which is included in the reporting entity. This non-profit entity was created to
assist in reducing the postage cost of mailing the City's periodic newsletters,
Administration (415) 833-6650 • City Council (415) 833-6605 • Finance (415) 833-6640 • Building Inspection (415) 833-6620
Code Enforcement (415) 833-6620 • Engineering (415) 833-6630 • Planning (415) 833-6610
Police (415) 833-6670 • Public Works (415) 8336630 • Recreation (415) 833-6645
calendars and recreation brochures. The entity's functions were expanded when
after the first few years of operations, the City Council realized that the
growth in the City coupled with the corresponding growth in City staff, plus the
desire to provide the City with its own identity required the construction of a
53,000 square foot Civic Center. Certificates-of-Participation were issued for
construction of the center and Dublin Information Inc. was the municipal conduit
for administering the debt service on the long term instruments. The City
administration uses General Fund resources to pay for rental space from Dublin
Information Inc. on a year-to-year basis and occupies the Civic Center for
normal day-to-day city operations as well as special events.
Dublin recently acquired the responsibility for fire prevention and fire
suppression services as well as park maintenance services from the Dublin San
Ramon Services District (DSRSD). Along with the added responsibility the City
received the allotment of property tax revenues which previously was assigned to
DSRSD. The District provided fire prevention services to both the cities of San
Ramon and Dublin. Upon transfer of- the responsibility for fire services from
the District, the two cities formed a joint powers authority to maintain the
integrity of the fire services. Each city pays on a monthly invoice basis the
amount of the operating and maintenance costs for the authority.
Economic Conditions
The City is located at the crossroads of two main thoroughfares: Interstate 680
and Interstate 580. This has helped to generate a healthy financial climate for
the City. More than eight hundred and eleven retail establishments do business
within the City. Given a State certified population of 25,800 on January 1990,
the city generates 40% more taxable sales per capita than any other surrounding
city. The long term trend for the City's sales tax is up. The Tri-Valley area,
which includes the cities of Dublin, Pleasanton, San Ramon and Livermore is
expected to grow in population by one and a half times its current certified
population of 175,450. More than most California cities, Dublin's operating
funds rely heavily on Sales Tax revenue.
City of Dublin
Percentage Sales Tax Revenue
Generated by Business types
P;AZ G
US=-Ji.CR.�F:; ;• � .24 / \� C\:, rE.a__-C_
21% \1
UGr.T INLIUSTPY
ER 18 SUS; TYPES
2
COMPARISON OF PER CAPITA SALES TAXABLE SALES
City of Dublin and three surrounding communities
Dublin
Pleasanton \\���\
• San Ramon \\� \\;\;;\ \7'y\
Livermore
\
so $1000 $2000 $3000 $4000 $5000
1st Qrtr 1990 data
There were 811 retail establishments reporting sales taxable transaction during
the first quarter of 1990. The top twenty sales tax revenue generators for the
most current quarter reported, produced over 51% of the total taxable sales
transactions for that quarter. These establishments in alphabetical order are:
Borchers Brothers Inc.
Circuit City Super-store
Crossroads Toyota Pontiac
Crown Chevrolet
Dublin Honda
Good Guys
Lew Doty Cadillac
Mervyn's
Montgomery Ward & Co. Inc.
Orchard Supply Hardware
Paper Corporation of America
Pay Less Drug Stores N.W.
Pier I Imports U.S. Inc.
Ross Stores Inc.
Shamrock Ford
Sprinkler Irrigation Specialist
Target Stores
The Gold Mart
Toys R Us Inc.
Valley Nissan/Volvo
Within the last four quarters only five of the businesses listed above ever
placed below the top twenty. The following graph shows the sales tax trends for
the City.
3
CITY OF DUBLIN
TOTAL TAXABLE SALES BY QUARTER
Trend Line Evaluation
Millions
8160-
$140- .. ..... o ..o
$120- ° °
$100- 0 0 o o
$80- o 0 0 ° QUARTERLY AMT
$60 a _
$40-
$20-
S0
12341234123412341234123412341
183 1 84 185 1 86 1 87 188 1 89 00
The five largest employers in the City are listed below. The first three employ
on average more than 300 people for their Dublin Offices.
Hexcel : Manufactures of honey comb material for the space
and aerospace industry
SmithKline Beecham Clinical Laboratories: Medical testing of
patient specimens.
Lucky Stores Inc. : Headquarters offices for grocery
retailers.
Unisource: Wholesale distributor of paper & packaging
products.
Automation Electronic Corporation: Manufacturer &
distributor of telephone peripheral equipment.
Major Departmental Initiatives
City Manager:
The City Manager is appointed by the five member City Council . The daily
operation of the City is handled by six department heads, who report directly to
the City Manager. Also included in the City's management structure is the Fire
Chief; even though he does not work directly for the City, the fire chief
participates in the management structure of the City.
Planning Department:
The Planning Department has guided the development of Dublin from the 4.1
square mile town in 1980 to the present 8.5 square mile city. Recent development
studies point to the fact that Dublin will grow in both east and west
directions to cover approximately 23 square miles with a population of between
55,000 and 85,000 by the year 2,015. At the present time, the Planning
Department is participating with Public Works, to obtain a geographic
information system, which will provide maps, parcel information and improvement
conditions at a glance.
4
Recreation:
The City's Recreation Department is pro-active. Since 1986 the City made major
improvements to four parks totaling 18.74 acres. The improvements included
picnic areas, children's playgrounds, walk ways, and general landscaping. The
City developed a senior center and mad renovations to the City's swim center,
and Shannon Community Center. At the present time, the City is working jointly
with the School District to improve school facilities for recreational programs.
Public Works:
The City is working towards the extension of Dublin Boulevard east and parallel
to and north of Interstate Highway 580. The project will include the
right-of-way acquisitions needed to construct a six lane road. The Boulevard
will be extended in phases with the first phase, a 400 lineal feet project, is
scheduled to begin in fiscal year 90-91. This Boulevard is one of the main
business streets for the City, and will provide access to the land further east
of City's present eastern limits. The cost of this project is estimated to run
$2,700,000.
The San Ramon Road Improvements program, which will be completed in the next
fiscal year, increases San Ramon Road to four lanes. This road was one-lane-each
way when the City incorporated. This project provides for better and faster
access to the community along the south to north corridor paralleling Interstate
680. The City used a phasing concept for these improvements, and the first phase
of this project was bid in 1986. The total costs of this phase of the project
will approach $2,600,000.
Finance/Treasurer:
The Finance Department's responsibility for the payroll and the accounts payable
processing is accomplished by the use of in-house computers. The department is
also responsible for preparing the monthly financial reports that are submitted
to the Council . The City-wide financial information system, and the cash
management functions are also located within finance. The computer system is
used for all the financial and investments record keeping plus budgeting, word
processing, police records, police management information, recreation scheduling
and program registration. There are twelve personal computers and two terminals
accessing both mainframe system data and various software products
simultaneously. These units are located throughout the city staff offices.
Financial Information
Internal Control:
The City Council is responsible for the overall plan of the organization. The
City Management is responsible for establishing the methods employed by the City
to safeguard its assets, ensure the reliability of the accounting data, promote
more efficient operations, and ensure compliance with the City's established
policies. The management uses both administrative and accounting controls to
fulfill that responsibility. The Finance Department is responsible for
establishing the accounting controls used for the City. To the extent possible
and within the limits of the staffing size, the accounting department has
segregated duties between the custody and the accountability of City assets. The
5
tasks associated with accounts payable is placed in the hands of a different
accounting staff person than those connected with accounts receivable and cash
management. But, even when staffing limitations demand that a task resides
primarily in the hands of one person, the accounting system is set up so that
another person is involved before the task is completed. Thus, for example, the
City's use of the Federal wire transfer system for investments can only be
completed after two signatures of approval are obtained from either the City
Manager, City Clerk, or Treasurer.
Budgetary Control:
Each year the City Manager develops and presents the budget document, and the
Council adopts the budget, which includes both operating programs and capital
improvement projects. The Council approves the budget on a departmental basis
and the staff identifies the funding sources. The City Manager is authorized
through the accounting procedures to transfer budget amounts between line items
within the same department during the year.
The City staff uses the real time on-line computer budget system to determine
the remaining budget balances before submitting purchase requests. Purchases
exceeding $200 are accomplished by use of purchase orders. The accounting staff
reviews the purchase request and purchase orders for accuracy and sufficiency of
budget balances. The City Purchasing Officer is the authority when a purchase
order is required.
Risk Management
The City of Dublin is a member of the ABAG PLAN Corporation; a self insured,
public entity for general liability pool . This is a general liability insurance,
which includes automobile liability. The coverage amount is $5 million per
occurrence, or in the aggregate after the City's deductible of $25,000. The ABAG
PLAN experienced its first equity allocation at the close of fiscal year
1989-90, with distributions occurring on July 2 1990. The City records the
liability for claims and judgements when the amount of the loss can be estimated
and when the loss is probable.
Cash Management
The City Treasurer manages the amount of idle cash for the City by purchasing
various investment instruments. The invested portfolio averaged $15,912,711.80
in size for the year. The average yield for the year was 8.1%. The City's
investment process takes into consideration in order of importance: 1. the
safety of the principal amount invested, 2. that the maturity of the
investments are consistent with future projected cash requirements, 3. the
maximum earnings possible, 4. the provision for maximum diversification within
the same industry, and 5. the liquidity of the instrument consistent with the
cash flow needs of the City. Inasmuch as the greatest portion of Dublin's
portfolio is in Certificates of Deposits the diversification criteria is
satisfied by dividing that amount into the greatest number of individual
certificates of less than $100,000. There were 57 investment instruments
purchased as of June 30, 1990 of which only seven exceeded $100,000. The
6
largest single amount invested by the City was in the State Treasurer's
investment pool , which totaled $9,354,000. The other six large items were
either collateralized certificates of deposit or Federal Agency debentures.
FINANCIAL STATEMENT ANALYSIS
The financial reports reflect the fact that the City's General Funds represent
over 80% of both the revenues and expenditures for all City fund types. The
Changes in the General Fund revenues over the last three fiscal years shows the
emphasis on tax revenues with recent large increases in property taxes due to
the property tax shift from DSRSD (Dublin San Ramon Services District). The
graph below reflects this fact. Sales tax represents over fifty eight percent of
taxes and forty two percent of total revenues for the City in fiscal year 89-90.
Revenue Type 1989-90 % of dollar %
total change change
current from prior
year year
Taxes 9,662,335.00 72.25% 445,089.00 3.33%
License/Permits 315,010.00 2.36% 22,821.00 .17%
Intergovernmental 932,834.00 6.97% 62,832.00 .47%
Charges for Services 1,090,386.00 8.15% 352,072.00 2.63%
Uses of Assets 1,333,673.00 9.97% 316,366.00 2.37%
Fines & Forfeitures 19,415.00 .15% 3,217.00 .02%
Other 20,609.00 .15% (25,336.00) - .19%
TOTALS 13,374,262.00 100.00% 1,177,061.00 9.65%
City of Dublin
General Fund Revenues
for four year period
Millions
$10
1986-87
1987-88
1988-89
'—' 1988-90
.......vu...n...........,..
7
Expenditures within the General Fund reflect the transfer of service for both
parks maintenance and fire prevention services from the Dublin San Ramon
Services District. Public Safety increased by $1,864,000 in 1988-89 when the
City absorbed the responsibility for City Fire Services, and the Culture and
Leisure activity increased by approximately $490,000 when the City assumed
responsibility for DSRSD public facility maintenance. Within the General
Government expenditures are included the payment for the current year's rent to
Dublin Information Inc.
Expenditures 1989-90 % of dollar
total change change
from prior
year
General Government 2,042,790.00 18.58% 759,067.00 47.43%
Public Safety 4,420,424.00 40.21% 659,538.00 41.21%
Highways & Streets 519,166.00 4.72% 42,483.00 2.65%
Health & Welfare 24,580.00 .22% 4,779.00 .30%
Community Development 1,566,774.00 14.25% 245,370.00 15.33%
Culture & Leisure 1,250,106.00 11.37% 256,093.00 16.00%
Capital Outlay 1,169,032.00 10.63% (367,067.00)-22.94%
TOTALS 10,992,872.00 1,600,263.00 14.56%
Cew D.rl.en et tf D...t..D.neltu n•t.r
111.IDUr,..r p.rlee
Millions wee1.1 f......D.ne11-..V
$5
I �
54-I
1
1969-90
1988-89
I � I I C 1987-88
$2 �` w 1986-87
$0 -�
H
The preparation of this Comprehensive Annual Financial Report is the result of
the fine efforts of the Finance Department Staff. I would also like to thank
the City Council and City Manager for their support.
Respec y subnitted,
Phillip S. Molina, CPA
Finance Director, City Treasurer
9
CITY OF DUBLIN
ELECTED OFFICIALS
June 30, 1990
Mayor
Paul C. Moffatt
Vice Mayor Councilmember
Georgean M. Vonheeder Peter J. Hegarty
Councilmember Councilmember
Linda J. Jeffery Peter W. Snyder
ADMINISTRATION PERSONNEL.
City Manager Richard C. Ambrose
City Attorney Elizabeth Silver
City Clerk Kay Keck
Chief of Police Jim Rose
Public Works Director �Thompson
Planning Director e L. Tong
Chief Building Official L. Taugher
Recreation Director Diane Lowart
Finance Director and Treasurer Phillip Molina
10
CITY OF DUBLIN
ORGANIZATION CHART FOR MAJOR CITY ACTIVITIES
REGISTERED VOTERS OF THE CITY OF DUBLIN
COUNCILMEMBERS
CITY MANAGER
ASSISTANT CITY MANAGER b STAFF 1
FIRE J.P.A. ____________
POLICE PLANNING FINANCE PUBLIC WORKS BUILDING CODE RECREATION
ENFORCEMENT
TREASURER l STREETS Library
FINANCIAL SECTION
AJAZE &
ASSOCIATES
ACCOUNTANCY CORPORATION
Creekside Oaks
1470 Maria Lane- Suite 200
Walnut Creek, California 94596
INDEPENDENT AUDITOR'S REPORT (415) 930-0902 • (916) 972-7333
To the City Council
City of Dublin, California
We have audited the general purpose financial statements of the City of
Dublin as of and for the years ended June 30, 1990 and 1989, as listed in
the table of contents. These financial statements are the responsibility
of the City's management. Our responsibility is to express an opinion on
these financial statements based on our audit.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance as to 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 our audits
provide a reasonable basis for our opinion.
In our opinion, such general purpose financial statements present fairly
in all material respects the financial position of the City of Dublin at
June 30, 1990 and 1989 and the results of its operations and cash flows of
its proprietary fund types for the years then ended, in conformity with
generally accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the general
purpose financial statements taken as a whole. The accompanying combining
statements, which are also listed in the table of contents, are presented
for the purpose of additional analysis and are not a required part of the
general purpose financial statements. Such combining statements have been
subjected to the auditing procedures applied in the audit of the general
purpose financial statements, and in our opinion are fairly stated in all
material respects when considered in relation to the general purpose
financial statements taken as a whole.
The statistical section listed in the Table of Contents was not examined
by us and, accordingly, we do not express an opinion on this information.
December 21, 1990
13
A n-..r___:___. ..___ ___.._ ._
GENERAL PURPOSE. FINANCIAL STATEMENTS
These statements provide an overview of the combined financial position
and the operating results of all fund types and account groups.
Individual funds utilized by the City are grouped in these statements as
follows:
GOVERNMENTAL FUND TYPE OPERATION
These funds (general, special revenue and capital projects) are those
through which governmental functions are typically funded, with the
emphasis on sources and uses of resources.
PROPRIETARY FUND TYPE OPERATION
These funds (enterprise and internal service) are used to account for
activities similar to private industry, with emphasis on net income
determination and cost recovery.
FIDUCIARY FUND TYPE
These funds are those used to account for assets held by government in a
trustee capacity or as an agent.
ACCOUNT GROUP
The account group is used to establish accounting control over the City's
general fixed assets. Because these assets are long-term they are not
spendable resources and do not require current appropriation. They are
accounted for separately from governmental fund types.
14
CITY OF DUBLIN
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 1990
WITH COMPARATIVE AMOUNTS AS OF JUNE 30,1989
r
GOVERNMENTAL FUND TYPES PROPRIETARY FUND TYPES
Special Capital Internal
General Revenue Projects Service Enterprise
ASSETS
I
Cash and investments(Note 3) $15,506,342 $657,074 $104,965 $247,861 $61,221
Restricted cash and investments(Note 3) 1,714,537
Receivables:
Accounts 178,933 12,827
Accrued interest 202,974 44,632
Due from other governments 211,593 222,121
Due from other funds (Note 7) 311,763
Prepaid expenses 12,058 9,320 1,724
Fixed assets(net of accumulated
depreciation)(Note 6) 190,856 22,363,874
Construction in progress(Note 6)
Total Assets $16,423,663 $892,022 $104,965 $448,037 $24,185,988
LIABILITIES
Accounts payable $1,138,240 $174,323 $6,429 $709 $26,590
Accrued wages 64,724
Accrued vacation 85,444
Deposits payable 628,168 149,372
Due to other funds(Note 7) 311,763
Due to other governments 43,049
Due to bondholders
Deferred revenues
Interest payable 541,585
16,887,494
Certificates of participation(Note 4)
Total Liabilities 1,959,625 486,086 155,801 709 17,455,669
FUND EQUITY AND OTHER CREDITS
Investments in general fixed assets
Contributed capital 155,257 5,109,891
Retained earnings:
292,071 1,620,428
Unreserved
Fund balances:
Reserved for prepaid expenses 12,058
Designated for authorized expenditures 14,451,980 506,394
Undesignated (100,458) (50,836)
Total Fund Equities 14,464,038 405,936 (50,836) 447,328 6,730,319
Total Liabilities and Fund Equities $16,423,663 $892,022 $104,965 $448,037 $24,185,988
See accompanying notes to financial statements
*Reclassified for comparison purposes.
15
0
FIDUCIARY ACCOUNT TOTALS
FUND TYPE GROUPS (Memorandum Only)
Agency General Fixed
Fund Assets 1990 1989+
$16,577,463 $16,680,859
$635,526 2,350,063 2,710,139
191,760 244,499
247,606 247,025
433,714 261,652
311,763 127,073
23,102 25,170
$259,710 22,814,440 312,645
20,225,655
$635,526 $259,710 $42,949,911 $40,834,717
$1,346,291 $1,931,090
64,724 48,687
85,444 66,662
777,540 556,610
311,763 127,073
43,049 19,010
$635,526 635,526 554,390
26,000
541,585 541,583
16,887,494 16,870,157
635,526 20,693,416 20,741,262
$259,710 259,710 198,125
5,265,148 5,197,401
1,912,499 2,093,567
12,058 16,554
14,958,374 12,704,634
(151,294) (116,826)
259,710 22,256,495 20,093,455
$635,526 $259,710 $42,949,911 $40,834,717
16
(This Page Left Blank Intentionally)
CITY OF DUBLIN
COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
FOR THE YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED JUNE 30, 1989
TOTALS
GOVERNMENTAL FUND TYPES (Memorandum Only)
Special Capital
General Revenue Projects 1990 1989
REVENUES
Taxes $9,662,335 $106,941 $9,769,276 $9,305,662
Licenses and permits 315,010 315,010 292,189
Intergovernmental 932,834 734,967 1,667,801 2,567,703
Charges for services 1,090,386 1,090,386 738,314
Use of money and property 1,333,673 60,482 $11,727 1,405,882 1,183,847
Fines and forfeits 19,415 71,806 91,221 104,641
Other revenue 20,609 660,367 227,808 908,784 68,617
Special assessments 287,205 287,205 262,197
Total Revenue 13,374,262 1,921,768 239,535 15,535,565 14,523,170
EXPENDITURES
Current:
General government 1,335,881 4,716 1,340,597 1,153,142
Facilities rents(Note 4) 706,909 706,909 133,059
Public safety 4,420,424 252,423 4,672,847 3,986,097
Highways and streets 519,166 502,475 1,021,641 941,276
Health and welfare 24,580 24,580 19,801
Community development 1,566,774 16,730 1,583,504 1,336,870
Culture and leisure 1,250,106 175 1,250,281 1,006,737
Capital outlay 1,169,032 1,168,074 315,577 2,652,683 3,214,398
Total Expenditures 10,992,872 1,944,593 315,577 13,253,042 11,791,380
EXCESS OF REVENUES OVER
(UNDER)EXPENDITURES 2,381,390 (22,825) (76,042) 2,282,523 2,731,790
OTHER FINANCING SOURCES(USES)
Operating transfers in(Note 8) 849,435 8,660 66,864 924,959 129,490
Operating transfers(out)(Note 8) (75,524) (849,435) (924,959) (123,650)
Total Other Financing Sources(Uses) 773,911 (840,775) 66,864 5,840
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING(USES) 3,155,301 (863,600) (9,178) 2,282,523 2,737,630
Fund equities(deficit), beginning of year 11,376,484 1,269,536 (41,658) 12,604,362 8,939,783
Residual equity transfers in(Note 2) 4,650,769
Residual equity transfers(out)(Note 2) (67,747) (67,747) (3,723,820)
Fund equities(deficit), end of year $14,464,038 $405,936 ($50,836) $14,819,138 $12,604,362
See accompanying notes to financial statements
18
CITY OF DUBLIN
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
GENERAL, SPECIAL REVENUE AND CAPITAL PROJECTS FUND TYPES
FOR THE YEAR ENDED JUNE 30, 1990
General Fund Special Revenue Funds
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Taxes $9,375,000 $9,662,335 $287,335 $92,000 $106,941 $14,941
Licenses and permits 332,250 315,010 (17,240)
Intergovernmental 882,800 932,834 50,034 1,613,846 708,967 (904,879)
Charges for services 1,296,790 1,090,386 (206,404)
Use of money and property 1,005,500 1,333,673 328,173 29,150 60,478 31,328
Fines and forfeits 17,000 19,415 2,415 88,000 71,806 (16,194)
Other revenue 10,000 20,609 10,609 648,700 661,622 12,922
Special assessment 273,394 287,205 13,811
Total Revenue 12,919,340 13,374,262 454,922 2,745,090 1,897,019 (848,071)
EXPENDITURES
Current:
General government 2,193,501 1,335,881 857,620 4,716 (4,716)
Facilities rents(Note 4) 706,909 706,909
Public safety 4,457,482 4,420,424 37,058 288,500 252,423 36,077
Highways.and streets 632,848 519,166 113,682 590,100 502,475 87,625
Health and welfare 24,749 24,580 169
Community development 1,996,741 1,566,774 429,967 17,500 16,730 770
Culture and leisure 1,366,587 1,250,106 116,481 175 (175)
Capital outlay 2,984,433 1,169,032 1,815,401 1,183,158 1,169,329 13,829
Total Expenditures 14,363,250 10,992,872 3,370,378 2,079,258 1,945,848 133,410
EXCESS OF REVENUES OVER
(UNDER)EXPENDITURES (1,443,910) 2,381,390 3,825,300 665,832 (48,829) (714,661)
OTHER FINANCING SOURCES(USES)
Operating transfers in(Note 8) 849,435 849,435
Operating transfers(out)(Note 8) (75,524) (75,524) (849,435) (849,435)
Total Other Financing Sources(Uses) 773,911 773,911 (849,435) (849,435)
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER(UNDER)EXPENDITURES
AND OTHER FINANCING USES ($1,443,910) 3,155,301 $4,599,211 $665,832 (898,264) ($1,564,096)
Fund balances(deficit),beginning of year 11,376,484 1,290,628
Residual equity transfers(out)(Note 1) (67,747)
Fund balances(deficit),end of year $14,464,038 $392,364
See accompanying notes to financial statements
19
TOTALS
Capital Projects Fund (Memorandum Only)
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$9,467,000 $9,769,276 $302,276
332,250 315,010 (17,240)
2,496,646 1,641,801 (854,845)
1,296,790 1,090,386 (206,404)
$11,727 $11,727 1,034,650 1,405,878 371,228
105,000 91,221 (13,779)
$260,152 227,808 (32,344) 918,852 910,039 (8,813)
273,394 287,205 13,811
260,152 239,535 (20,617) 15,924,582 15,510,816 (413,766)
2,193,501 1,340,597 852,904
706,909 706,909
4,745,982 4,672,847 73,135
1,222,948 1,021,641 201,307
24,749 24,580 169
2,014,241 1,583,504 430,737
1,366,587 1,250,281 116,306
327,373 315,577 11,796 4,494,964 2,653,938 1,841,026
327,373 315,577 11,796 16,769,881 13,254,297 3,515,584
(67,221) (76,042) (8,821) (845,299) 2,256,519 3,101,818
66,864 $66,864 916,299 916,299
(924,959) (924,959)
66,864 66,864 (8,660) (8,660)
($67,221) (9,178) $58,043 ($845,299) 2,247,859 $3,093,158
(41,658) 12,625,454
(67,747)
($50,836) $14,805,566
20
CITY OF DUBLIN
COMBINED STATEMENTS OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED JUNE 30, 1989
Internal Enterprise TOTALS
Service Fund Fund (Memorandum Only)
Dublin
Equipment Information
Replacement Inc. 1990 1989
REVENUES
Equipment usage $132,720 $132,720 $122,846
Miscellaneous 10,535 10,535 41,724
Total Revenues 143,255 143,255 164,570
EXPENSES
Depreciation 88,311 $354,520 442,831 70,334
Miscellaneous 55,641 30,945 86,586 79,111
Total Expenses 143,952 385,465 529,417 149,445
Operating income(loss) (697) (385,465) (386,162) 15,125
NONOPERATING INCOME(EXPENSE)
Interest income 16,703 135,731 152,434 356,179
Rent income 706,909 706,909 133,059
Interest expense (654,249) (654,249) (654,246)
Nonoperating Income(Expense) 16,703 188,391 205,094 (165,008)
OPERATING TRANSFER(OUT) (5,840)
Net Income(Loss) 16,006 (197,074) (181,068) (155,723)
Retained earnings,beginning of year 276,065 1,817,502 2,093,567 2,249,290
Retained earnings, end of year $292,071 $1,620,428 $1,912,499 $2,093,567
See accompanying notes to financial statements
21
CITY OF DUBLIN
COMBINED STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES
FOR THE YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED JUNE 30, 1989
c
4
Internal Enterprise TOTALS
Service fund Fund (Memorandum Only)
Dublin
Equipment Information
Replacement Inc. 1990 1989 +
CASH FLOWS FROM OPERATING ACTIVITIES
(5697) ($385,465) ($386,162) $15,125
Operating income(loss)
Adjustments to reconcile operating income(loss)
to cash flows from operating activities:
Depreciation and amortization 88,311 371,857 460,168 87,671
Decrease(increase)in accounts receivable 3,228
Decrease(increase)in accrued interest 20,354 20,354 (14,487)
Decrease(increase)in prepaid expenses (704) (1,724) (2,428)
Increase(decrease)in accounts payable (2,378) (452,869) (455,247) (55,348)
Increase(decrease)in interest payable 3 3 108,310
Cash Flows From Operating Activities 84,532 (447,844) (363,312) 144,499
CASH FLOWS FROM INVESTING ACTIVITIES
16,703 135,731 152,434 356,179
Interest income
Cash Flows From Investing Activities 16,703 135,731 152,434 356,179
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Capital expenditures (164,647) (2,492,740) (2,657,387) (7,432,213)
Contributed capital 60,979 6,768 67,747 1,157,098
Decrease in restricted cash and investments ,212 441,212 908,068
Interest expense (6655 4,249) (654,249) (654,246)
706,909 706,909 133,059
Rent income
Cash Flows From Capital and Related Financing Activities (103,668) (1,992,100) (2,095,768) (5,888,234)
CASH FLOWS FROM NONCAPITAL AND RELATED
FINANCING ACTIVITIES
Operating transfers out (5,840)
Cash Flows From Noncapital and Related Financing Activities (5'940)
Net Cash Flows (2,433) (2,304,213) (2,306,646) (5,393,396)
Cash and investments at beginning of year 250,294 2,365,434 2,615,728 8,009,124
Cash and investments at end of year $247,861 $61,221 $309,082 $2,615,728
See accompanying notes to financial statements
•Reclassified for comparison purposes
22
CITY OF DUBLIN
Notes to Financial Statements
June 30, 1990
Note 1 - Summary of Significant Accounting Policies
The City of Dublin was incorporated February 1, 1982 under the
Municipal Organization Act of 1977. The City operates under a
Council-Manager form of government and provides services to residents
primarily by contracting with other governmental agencies and private
contractors.
The accounting policies of the City of Dublin conform to generally
accepted accounting principles as applicable to governments. The
following is a summary of the more significant policies:
A. Reporting Entity
The financial statements of the City of Dublin include the financial
activities of the City as well as separate legal entities which are
controlled by or dependent on the City. Determination of "controlled
by or dependent on" is based on the National Council on Governmental
Accounting Statement 3 "Defining the Governmental Reporting Entity" .
This statement deals with existence as an organized entity,
governmental character, and autonomy.
Management has considered all potential component units in evaluating
how to define the City for financial statement purposes. The criteria
for including a potential component unit in the City's financial
statements are the City Council's ability to exercise oversight
responsibility, the scope of the entity's service and the existence of
special financing relationships, regardless of whether the City is
able to exercise oversight responsibilities.
Dublin Information, Inc. (DII) is a separate legal entity established
to assist in providing financing to the City. DII is dependent on the
City for its cash flows and therefore meets the criterion of ability
to significantly influence operations and accountability for fiscal
matters for inclusion in the City's reporting entity. The financial
activities of DII have been included in the Dublin Information, Inc.
Enterprise Fund.
The financial statements exclude the activities of the
Livermore-Amador Valley Transit Authority, the Dublin Housing
Authority, the Dublin San Ramon Services District and the Dougherty
Regional Fire Authority. Each of these agencies is managed and
operated independently of the City, the City does not have a majority
representation on their boards and it is not able to significantly
influence their operations, budgets or financing.
23
CITY OF DUBLIN
Notes to Financial Statements
Note 1 - Summary of Significant Accounting Policies (Continued)
B. Fund Accounting
The accounts of the City are organized on the basis of funds and
account groups, each of which is considered a separate accounting
entity. The operations of each fund are accounted for with a separate
set of self-balancing accounts that comprise its assets, liabilities,
fund equity, revenues, and expenditures, or expenses, as appropriate.
Government resources are allocated to and accounted for in individual
funds based upon the purposes for which they are to be spent and the
means by which spending activities are controlled. The various funds
are grouped, in the financial statements in this report, into three
generic fund types and six broad fund categories as follows:
GOVERNMENTAL FUNDS
General Fund-- The general fund is the general operating fund of the
City. It is used to account for all financial resources except those
required to be accounted for in another fund.
Special Revenue Funds-- Special revenue funds are used to account for
the proceeds of specific revenue sources (other than major capital
projects) that are legally restricted to expenditures for specific
purposes.
Capital Projects Fund-- The capital projects fund is used to account
for financial resources to be used for the acquisition or construction
of major capital facilities (other than those financed by proprietary
funds) .
PROPRIETARY FUNDS
Enterprise Fund - The enterprise fund is used to account for
operations which are financed and operated in a manner similar to
private business enterprises where the intent of the governing body is
that the costs and expenses, including depreciation, of providing
goods or services to the general public on a continuing basis be
financed or recovered primarily through user charges; or where the
governing body has decided that periodic determination of revenues
earned, expenses incurred, and/or net income is appropriate for
capital maintenance, public policy, management control,
accountability, or other purposes.
Internal Service Fund -- The internal service fund is used to account
for the financing of goods or services provided by one department or
agency to other departments or agencies of the City, or to other
governments, on a cost-reimbursement basis.
24
CITY OF DUBLIN
Notes to Financial Statements
Note 1 - Summary of Significant Accounting Policies (Continued)
FIDUCIARY FUNDS
Agency Fund-- The agency fund is used to account for assets held by
the City as an agent for individuals, private organizations, other
governments and/or other funds, in accordance with the conditions of
the agreements. Agency funds are purely custodial and thus do not
involve measurement of results of operations.
C. Fixed Assets and Long-Term Liabilities
The accounting and reporting treatment applied to the fixed assets and
long-term liabilities associated with a fund are determined by its
measurement focus. All governmental funds are accounted for on a
spending or "financial flow" measurement focus, which means that only
current assets and current liabilities are generally included on their
balance sheets. Their reported fund balance (net current assets) is
considered a measure of "available spendable resources". Governmental
fund operating statements present increases (revenues and other
financing sources) and decreases (expenditures and other financing
uses) in net current assets. Accordingly, they are said to present a
summary of sources and uses of "available spendable resources" during
a period.
Fixed assets used in governmental fund type operations (general fixed
assets) are accounted for in the general fixed assets account group,
rather than in governmental funds. The account group is not a
"fund". It is concerned only with the measurement of financial
position and is not involved with measurement of results of
operations.
All fixed assets are valued at historical cost or estimated historical
cost if actual historical cost is not available. Donated fixed assets
are valued at their estimated fair value on the date donated. No
depreciation has been provided on general fixed assets.
The City has elected not to capitalize its infrastructure, which
consists of roads, bridges, curbs, gutters, streets, sidewalks,
drainage systems, and lighting systems.
All proprietary funds are accounted for on a cost of services or
"capital maintenance" measurement focus, which means that all assets
and all liabilities, current and non-current, associated with their
activity are included on their balance sheets. Their reported fund
equity is segregated into contributed capital and retained earnings
components. Proprietary fund type operating statements present
increases (revenues) and decreases (expenses) in net assets.
Depreciation of all exhaustible fixed assets used by proprietary funds
is charged as an expense against their operations. Accumulated
depreciation is reported on proprietary fund balance sheets.
25
CITY OF DUBLIN
Notes to Financial Statements
Note 1 - Summary of Significant Accounting Policies (Continued)
Depreciation has been provided over the estimated useful lives of
proprietary fund assets using the straight line method. The estimated
useful lives are as follows:
Building 37 years
Machinery and equipment 3-7 years
D. Contributed Capital in Proprietary Funds
Contributed capital in proprietary funds represents general fund
residual equity transfers used to acquire or construct fixed assets.
E. Basis of Accounting
Basis of accounting refers to when revenues and expenditures or
expenses are recognized in the accounts and reported in the financial
statements. Basis of accounting relates to the timing of the
measurements made, regardless of the measurement focus applied.
All governmental and agency funds are accounted for using the modified
accrual basis of accounting. Their revenues are recognized when they
become measurable and available as net current assets.
Those revenues susceptible to accrual are property taxes, hotel and
motel taxes, franchise taxes, interest revenues and charges for
services. Sales taxes collected and held by the State at year end on
behalf of the City also are recognized as revenue. Fines, -licenses,
permits and parking meter revenues are not susceptible to accrual
because they generally are not measurable until received in cash.
Expenditures are generally recognized under the modified accrual basis
of accounting when the related fund liability is incurred. Because of
their spending measurement focus, expenditure recognition for
governmental fund types excludes amounts represented by noncurrent
liabilities. Since they do not affect net current assets, such
long-term amounts are not recognized as governmental fund type
expenditures or fund liabilities.
All proprietary funds are accounted for using the accrual basis of
accounting. Their revenues are recognized when they are earned, and
their expenses are recognized when they are incurred.
F. Budgets and Budgetary Accounting
The City follows these procedures in establishing the budgetary data
reflected in the financial statements:
1. Prior to June 30 the City Manager submits to the City Council a
proposed operating budget for the fiscal year commencing the
following July 1. The operating budget includes proposed
expenditures and the means of financing them.
26
CITY OF DUBLIN
Notes to Financial Statements
Note 1 - Summary of Significant Accounting Policies (Continued)
2. Public hearings are conducted to obtain taxpayer comments.
3. Prior to July 1, the budget is legally enacted through passage of a
resolution.
4. The City Manager is authorized to transfer budgeted amounts between
line items within any department; however, any revisions which alter
total expenditures of the City must be approved by City Council.
5. Formal budgetary integration is employed as a management control device
during the year for the general fund, certain special revenue funds, and
the capital projects fund.
6. Budgets for the general, special revenue and capital projects funds are
adopted on a basis consistent with generally accepted accounting
principles (GAAP) .
All unexpended appropriations lapse at the end'of the fiscal year.
Budgeted amounts presented in the financial statements are as originally
adopted, or as amended by the City Council. Individual amendments were not
material in relation to original appropriations.
Two funds were not budgeted during the fiscal year ended June 30, 1990, the
Community Development Block Grant fund and the Dublin Boulevard Extension
fund. The excess of expenditures over revenues for those funds was $36,664
for the year.
G. Cash and Investments
The City pools idle cash from all funds except Cash and Investments with
Fiscal Agent for the purpose of increasing income through investment
activities. Investments are carried at cost. Interest income on investments
is allocated on the basis of average month-end cash and investment balances
in each fund.
27
CITY OF DUBLIN
Notes to Financial Statements
Note 1 - Summary of Significant Accounting Policies (Continued)
H. Property Tax
Alameda County assesses properties and bills for and collects property
taxes as follows:
Secured Unsecured
Valuation dates March 1 March 1
Lien/levy dates March 1 March 1
Due dates 50% on November 1 July 1
50% on February 1
Delinquent as of December 10 (for November) August 31
April 10 (for February)
The term "unsecured" refers to taxes on property other than real estate,
land and buildings. These taxes are secured by liens on the property being
taxed.
-_. Property taxes levied are recorded as revenue and receivables in the fiscal
year of levy.
I. Accumulated Unpaid Vacation.
The City accounts for the entire unpaid liability for accrued vacation pay
in the general fund since the City's policy is to liquidate any unpaid
vacation or sick leave at June 30 from currently available expendable
resources rather than future resources. Sick leave and other such absences
do not vest and are not accrued.
J. New Funds
During the year the City established two funds:
The Safco Grant Special Revenue Fund was established to account for
grants and expenditures related to the Safco Grant.
The Bonds Fund Measure AA was established to account for proceeds from
Measure AA State bond sales for park capital improvements.
K. Total Columns on Combined Statements
Total columns on the Combined 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, results of
operations, or cash flows in conformity with generally accepted accounting
principles. Neither is such data comparable to a consolidation. Interfund
eliminations have not been made in the aggregation of this data.
28
CITY OF DUBLIN
Notes to Financial Statements
Note 2 - Residual Equity Transfers
Residual Equity Transfers for the years ended June 30, 1990 and 1989
comprise:
Transfers
In Out
Year Ended June 30, 1990:
General Fund $ 67,747
Year Ended June 30, 1989:
General Fund:
From capital projects
funds $1,516,048
From DSRSD 3,134,721
To proprietary funds 1,157,097
To DRFA 1,050,675
Capital Projects Funds 1,516,048
$4,650,769 $3,723,820
During the years ended June 30, 1990 and 1989 the General Fund transferred
the following amounts to proprietary funds for asset acquisition purposes:
1990 1989
Internal Service $60,979 $ 30,969
Enterprise 6,768 1,126;128
$67,747 $1,157,097
Effective July 1, 1988 the City discontinued certain Capital Project
Funds. Fund balances of $1,516,048 associated with these discontinued
Funds were transferred to the General Fund and accounted for as a Residual
Equity Transfer.
Effective July 1, 1988, the Dublin San Ramon Services District (DSRSD)
transferred all fire suppression and prevention and park and recreation
services to the Cities of Dublin and San Ramon. This transfer included all
related assets, liabilities and fund balances. During the year ended June
30, 1989 the General Fund received $3,134,721 in DSRSD fund balances
relating to these services and accounted for them as a Residual Equity
Transfer in.
Effective with the transfer, the Cities of Dublin and San Ramon established
the Dougherty Regional Fire Authority (DRFA) , a joint powers agreement, and
transferred all fire suppression and prevention services and the related
fund balances to DRFA. Of the fund balances received from DSRSD,
$1,050,675 related to fire suppression and prevention. This amount was
transferred to DRFA and accounted for as a Residual Equity Transfer Out by
the General Fund.
29
CITY OF DUBLIN
Notes to Financial Statements
Note 3 - Cash and Investments
Cash Deposits
All cash in banks and non-negotiable certificates of deposit are entirely insured or
collateralized with securities held by the pledging financial institutions in the
City's name. The California Government Code requires California banks and savings
and loan associations to secure the City's deposits by pledging securities as
collateral. This California Government Code states that collateral pledged in this
manner shall have the effect of perfecting a security interest in such collateral
superior to those of a general creditor. Thus, collateral for cash in banks and
non-negotiable certificates of deposits are considered to be held in the City's
name. The market value of pledged securities must equal at least 110% of the City's
deposits. California law also allows financial institutions to secure City deposits
by pledging first trust deed mortgage notes having a value of 150% of the City's
total deposits.
At year end, the carrying amount of the City's deposits was $7,061,111 and the bank
balance was $8,319,993. Of the bank balance, $6,121,993 was covered by federal
depository insurance. The balance was covered by collateral held by the pledging
financial institution in the City's name.
The City has waived collateral requirements for deposits which are fully insured up
to $100,000 by the Federal Deposit Insurance Corporation (FDIC) .
Authorized Investments
Under provision of the city's investment policy, and in accordance with Section
53601 of the California Government Code, the City may invest in the following types
of investments:
Securities of the U.S. Government, or its agencies
Non-Negotiable Certificates of Deposit
Bankers Acceptances
Local Agency Investment Fund (State Pool) Deposits
Passbook Savings Account Demand Deposits
Repurchase Agreements
The above investments may be held by the City subject to certain limitations as
described in the City's investment policy.
30
CITY OF DUBLIN
Notes to Financial Statements
Note 3 - Cash and Investments (Continued)
The City's investments at June 30, 1990 comprise:
Category Non- Carrying Market
1 catezorized Value Value
Cash deposits:
Cash in banks $ 296,111 $ 296,111 $ 296,111
Non-negotiable
Certificates of Deposit 6,765,000 6,765,000 6,765,000
Total of Deposits 7,061,111 7,061,111 7,061,111
Pooled investments:
Securities of the U.S.
Government or its
Agencies $ 797,878 797,878 797,878
Local Agency Investment
Fund 9,354,000 9,354,000 9,354,000
Investments with Fiscal
Agents:
Securities of the U.S.
Government or its
Agencies 1,714,537 1,714,537 1.714,537
Total of Cash and
Investments $2,512,415 $16,415,111 $18,927,526 $18,927,526
Credit Risk, Carrying Amount, and Market Value of Investments
Investments that are represented by specific identifiable investment
securities are classified as to credit risk in three categories as
follows : Category 1 includes investments that are insured or registered or
for which securities are held by the City or its agent in the City's name;
Category 2 includes and unregistered investments for which the securities
are held by the financial institution's trust department or agent in the
City's name; Category 3 includes uninsured and unregistered investments for
which the securities are held by the financial institution, or by its trust
department or agent but not in the City's name.
Cash and investments are reported in the general purpose financial
statements as follows:
June 30,
1990 1989
Cash and investments $16,577,463 $16,680,859
Restricted cash and investments 2.350,063 2,710,139
Total cash and investments $18,927,526 $19,3902998
31
CITY OF DUBLIN
Notes to Financial Statements
Note 3 - Cash and Investments (Continued)
At June 30, 1990 the City had $1,714,537 in cash and investments held by
fiscal agents which is pledged for the payment of certificates of
participation. The California Government Code provides these monies, in
the absence of specific statutory provisions governing the issuance of
bonds, certificates or notes, may be invested in accordance with any
ordinance, resolution or indenture which is generally more restrictive than
the City's general investment policy. In no instance have additional types
of investments, not permitted by the City's general investment policy, been
authorized.
The City entered into no revenue repurchase agreements during the year
ended June 30, 1990.
Note 4 - Certificates of Participation
The City has a non-cancellable lease expiring in 2010 with Dublin
Information Inc. (DII) , which used the lease as collateral for the issuance
of the 1988 Certificates of Participation. The lease provides for
semi-annual payments which are sufficient to pay principal and interest due
on the 1988 Refunding Certificates of Participation. Ownership of the
Civic Center Building reverts to the City at the end of the lease.
Since the lease is in essence a financing arrangement with ownership of the
financed assets reverting to the City, the assets and the related debt
evidenced by the 1988 Refunding Certificates of Participation have been
included in the City's financial statements. The refunding Certificates of
Participation will be repaid from Enterprise fund lease revenues.
Refunding Certificates of Participation balances comprised the following at
June 30, 1990 and 1989:
June 30
1990 1989
Original principal amount of
Refunding Certificates of
Participation $17,230,000 $17,230,000
Less bond discount, net of
amortization 342,506 359,843
Balance as of June 30 $16,887,494 $16,870,157
Annual debt service requirements for the 1988 Refunding Certificates
of Participation, including interest, are as follows:
For the Year
ending June 30 Total
1991 $ 1,719,820
1992 1,720,670
1993 1,718,970
1994 1,719,595
1995 1,717,095
thereafter 28,260,252
$36,856,402
32
CITY OF DUBLIN
Notes to the Financial Statements
Note 4 - Certificates of Participation (Continued)
As of June 30, 1990 $11,215,000 of 1985 Certificates of Participation,
which were defeased by the 1988 Refunding Certificates of
Participation, remained unpaid. Securities are on deposit in an
irrevocable trust with an escrow agent to provide for all future debt
service payments on the 1985 Certificates of Participation.
Note 5 - Pension Plan
A. Plan Description
The City contributes to the California Public Employees Retirement
System (PERS) , an agent multiple-employer public employee retirement
system which acts as a common investment and administrative agent for
participating members in California.
All qualified permanent and probationary employees are eligible to
participate in PERS. Benefits vest after five years of service and are
payable monthly for life upon retirement. Employees who retire at age
60 with 5 years of credited service receive a benefit equal to 10% of
their average monthly salary for their last three years of employment
up to a maximum of 2% of their annual salary. A credited service year
is one year of full time employment.
PERS requires a contribution of 7% of the employees annual salary which
the City pays on the behalf of the employees. These benefit provisions
and all other requirements are established by state statute and city
ordinance. Contributions necessary to fund PERS on an actuarial basis
are determined by PERS and its Board of Administration.
B. Funding Status and Progress
The amount shown below as the "pension benefit obligation" is a
standardized disclosure measure of the present value of pension
benefits, adjusted for the effects of projected salary increases and
step-rate benefits estimated to be payable in the future as a result of
employee service to date. The measure is intended to help users assess
the funding status of PERS on a going-concern basis, assess progress
made in accumulating sufficient assets to pay benefits when due and
make comparisons among employers. The measure is the actuarial present
value of credited projected benefits and is independent of the funding
method used to determine contributions to the PERS.
The pension benefit obligation was computed as part of an actuarial
valuation performed as of June 30, 1989. Significant actuarial
assumptions used in the valuation include (a) a rate of return on the
investment of present and future assets of 8.5% a year compounded
annually, (b) projected salary increases of 5% a year compounded
annually, attributable to inflation, plus additional projected salary
increases attributable to seniority/merit, and (d) postretirement
benefit increases adjusted 2% annually after the fist two years of
retirement.
33
CITY OF DUBLIN
Notes to the Financial Statements
Note 5 - Pension Plan (Continued)
Total over-funded pension benefit obligation applicable to the City's
employees at June 30, 1989 is as follows:
Pension benefit obligation:
Retirees and beneficiaries currently
receiving benefits and terminated employees
not yet receiving benefits $ 2,351
Current employees:
Accumulated employee contributions including
allocated investment earnings 222,374
Employer-financed vested 160,905
Employer-financed nonvested 47.847
Total pension benefit obligation 433,477
Net assets available for benefits, at cost
(market value was $569,448 at June 30, 1989) 485 , 877
Over-funded pension benefit obligation 52,400
C. Actuarially Determined Contribution Requirements and Contributions
Made
PERS uses the Entry Age Normal Actuarial Cost Method which is a projected
benefit cost method. That is, it takes into account those benefits that
are expected to be earned in the future as well as those already accrued.
According to this cost method, the normal cost for an employee is the level
amount which would fund the projected benefit. if it were paid annually from
date of employment until retirement. PERS uses a modification of the Entry
Age Cost Method in which the employer's total normal cost is expressed as a
level percentage of payroll. PERS also uses the level percentage of
payroll method to amortize any unfunded actuarial liabilities. The
amortization period of the unfunded actuarial liability ends on June 30,
2011.
The significant actuarial assumptions used to compute the actuarially
determined contribution requirement are the same as those used to compute
the pension benefit obligation, as previously described.
34
CITY OF DUBLIN
Notes to Financial Statements
Note 5 - Pension Plan (Continued)
Contributions to PERS are made in accordance with actuarially determined
requirements computed through an actuarial valuation performed as of year
end. PERS contributions, which were entirely paid by the City, consisted of
the following for the fiscal years ended June 30, 1990 and 1989:
1990 1989
Percent Percent
of Covered of Covered
Amount Payroll Amount Pavroll
Covered payroll $ 998,127 832,304
Total payroll $1,215,970 12L,749
Normal cost, including
employee contributions $ 180,350 17.6% $103,206 12.4%
Amortized unfunded
(over-funded) pension
benefit obligation (52,400) (5.2)% 832 .1%
Total $ 127,950 $104,038 12.5%
City contributions 58,081 5.8% $45,777 5.5%
Employee contributions 69.869 7.0% 58.261 7.0%
Total $ 127,950 12.5% jjg4,038 12.5%
D. Trend Information
Trend information gives an indication of the progress made in accumulating
sufficient assets to pay benefits when due. Systemwide ten-year trend
information may be found in the California Public Employees' Retirement
System Annual Reports.
For the fiscal years, 1988-89, 1987-88 and 1986-87, net assets available
for benefits funded 112.1%, 103.1% and 116.0% respectively, of the pension
plan's total pension benefit obligation and the overfunded pension benefit
obligation represented 5.1%, 1.2% and 4.8% respectively, of covered
payroll. In addition, for the three years ended June 30, 1990, 1989 and
1988, the City's contributions to the System, all made in accordance with
actuarially determined requirements, were 12.5%, 12.5% and 13.1%
respectively of annual covered payroll. Other trend information required
by Governmental Accounting Standard No.5 is presented in the City's
Comprehensive Annual Financial Statement statistical section.
35 f
CITY OF DUBLIN
Notes to Financial Statements
Note 6 - Fixed Assets
Fixed assets at June 30, 1990 consist of the following:
Internal General
Enterprise Service Fixed
Funds Fund Assets
Land $ 6,842,037
Building 15,453,847
Machinery & equipment 422.510 $488,365 $259,710
Total 22,718,394 488,365 $259,710
Less accumulated
depreciation 354,520 297,509
Net $22,363,874 1120 856
Additions to general fixed assets in the year ended June 30, 1990 comprised
$61,585 of machinery and equipment. All general fixed assets were acquired
with general fund revenue.
Changes in proprietary funds' fixed assets comprised the following:
Balance Completed Balance
June 30, 1989 Additions Construction June 30, 1990
Enterprise Fund:
Land $ 6,842,037 $ 6,842,037
Buildings 15,453,847 15,453,847
Machinery and
equipment 422,510 422,510
Construction in
progress $20,225,655 $2,492,739 (22,718,394) -0-
Total $20,225,655 $2,492,739 $ -0- $22,718,394
Internal Service Fund:
Machinery and
equipment 323 718 $164,647 $ -0 J4L3 65
36
CITY OF DUBLIN
Notes to Financial Statements
Note 7 - Interfund Receivables and Payables
Interfund receivables and payables consisted of the following at June
30, 1990:
Due to Due From
General Fund $311,763
Special Revenue Funds
Transportation Development Act $144,051
Federal Aid Urban 146,499
Dublin Boulevard Extension 1,500
State Park Bond Act 12,209
Sales Tax Measure B 3,225
SAFCO Grant 4,279
Totals 311 763 311 763
Note 8 - Interfund Operating Transfers
During the fiscal year ended June 30, 1990 an operating transfer of
$849,435 was made to the General Fund from the Park Dedication Special
Revenue Fund to reimburse the General Fund for prior year park
construction expenditures. Operating transfers of $8,660 and $66,864
were made to the Community Development Block Grant fund and the
Capital Improvements Fund, respectively, from the General Fund as
reimbursements of expenditures.
Note 9 - Contingent Liabilities
The City participates in several federal and State grant programs.
These programs have been audited by the City's independent accountants
in accordance with the provisions of the federal Single Audit Act of
1984 and applicable State requirements. No cost disallowances were
proposed as a result of these audits; however, these programs are
still subject to further examination by the grantors and the amount,
if any, of expenditures which may be disallowed by the granting
agencies cannot be determined at this time. The City expects such
amounts, if any, to be immaterial.
Note 10 - Joint Powers Agencies
Livermore-Amador Valley Transit Authority
This Authority was formed in May 1985 by a joint exercise of powers
agreement between the County of Alameda and the Cities of Livermore,
Pleasanton and Dublin for the purpose of providing general public
transportation under the business name "Wheels" .
Dougherty Regional Fire Authority
The Cities of Dublin and San Ramon established the Dougherty Regional
Fire Authority (DRFA) to provide fire suppression and prevention
services. DRFA is controlled by a six member board consisting of
three members from each City Council. The board appoints management
and employees of DRFA and is responsible for DRFA's budget, operations
and finances.
37
CITY OF DUBLIN
Notes to Financial Statements
Note 10 - Joint Powers Agencies
Audited condensed financial information for each of the above
authorities is presented below for the year ended June 30, 1989:
Transit Dougherty Regional
Authority Fire Authority
Total assets $1,687,586 $4,108,469
Total current liabilities 289,143 475,122
Total long-term liabilities 1,144,550
Total Liabilities 289,143 1,619,672
Total fund equity 1,398,443 2,488,797
Total revenue 3,358,745 5,934,129
Total expenditures 3,430,374 3,488,744
Other financing sources (uses) (2,536) (6,642)
Additions to contributed capital 854,627 44,075
Net increase in fund equity $ 780,462 $2,482,818
Note 11 - Deficit Fund Balances
The following funds had deficit balances as of June 30, 1990:
Special Revenue Funds:
Transportation Development Act $ 74,425
State Park Bond Act 12,209
Bond Fund Measure AA 1,646
SAFCO Grant 10,727
Dublin Boulevard Extension 1,451
Capital Projects Fund 50,836
These deficits will be eliminated through general fund transfers or
future revenues.
Note 12 - Excess of Expenditures Over Appropriations
The following funds had expenditures in excess of appropriations as of
June 30, 1990 at the fund level.
Budget Expenditures Excess
Special Revenue Funds:
Transportation
Development Act $135,100 $135,575 $ 478
Sales Tax Measure B 91,877 92,317 440
SAFCO Grant 100,000 100,727 727
Sufficient resources were available to fund these excesses except for
the Transportation Development Act Fund which will recover this excess
through future revenues.
38
CITY OF DUBLIN
GENERAL FUND
The' general fund is used to account for all of the general
revenues of the city that are not specifically levied or
collected for other city funds, and for the expenditures related
to the rendering of general services by the city. The general
fund is used to account for all resources not required to be
accounted for in another fund. See combined statements for
details.
39
CITY OF DUBLIN
GENERAL FUND
COMPARATIVE BALANCE SHEET
JUNE 30, 1990 AND 1989
1990 1989 +
ASSETS
Cash and investments $15,506,342 $12,373,135
Receivables:
Accounts 178,933 242,285
Accrued interest 202,974 182,039
Due from other governments 211,593 213,652
Due from other funds 311,763 127,073
Prepaid expenses 12,058 16,554
Total Assets $16,423,663 $13,154,738
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $1,138,240 $1,164,631
Accrued wages 64,724 48,687
Accrued vacation 85,444 - 66,662
Deposits payable 628,168 479,264
Due to other governments 43,049 19,010
Total Liabilities 1,959,625 1,778,254
Fund Balances:
Reserved for prepaid expenses 12,058 16,554
Designated for authorized expenditures 14,451,980 11,359,930
Total Fund Balances 14,464,038 11,376,484
Total Liabilities and Fund Balances $16,423,663 $13,154,738
+Reclassified for comparison purposes.
40
CITY OF DUBLIN
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED JUNE 30, 1989
1990 1989
Variance
Favorable
Budget Actual (Unfavorable) Actual
REVENUES
Taxes $9,375,000 $9,662,335 $287,335 $9,217,246
Licenses and permits 332,250 315,010 (17,240) 292,189
Intergovernmental 882,800 932,834 50,034 870,002
Charges for services 1,296,790 1,090,386 (206,404) 738,314
Use of money and property 1,005,500 1,333,673 328,173 1,017,307
Fines and forfeits 17,000 19,415 2,415 16,198
Other revenue 10,000 20,609 10,609 45,945
Total Revenues 12,919,340 13,374,262 454,922 12,197,201
EXPENDITURES
Current:
General government 2,193,501 1,335,881 857,620 1,150,664
Facilities rents 706,909 706,909 133,059
Public safety 4,457,482 4,420,424 37,058 3,760,886
Highways and streets 632,848 519,166 113,682 476,683
Health and welfare 24,749 24,580 169 19,801
Community development 1,996,741 1,566,774 429,967 1,321,404
Culture and leisure 1,366,587 1,250,106 116,481 994,013
Capital outlay 2,984,433 1,169,032 1,815,401 1,536,099
Total Expenditures 14,363,250 10,992,872 3,370,378 9,392,609
EXCESS OF REVENUE OVER
(UNDER)EXPENDITURES (1,443,910) 2,381,390 3,825,300 2,804,592
OTHER FINANCING SOURCES
Operating transfer in 849,435 849,435 79,490
Operating transfers(out) (75,524) (75,524)
Total Other Financing Sources 773,911 773,911 79,490
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES (1,443,910) 3,155,301 4,599,211 2,884,082
Fund balances,beginning of year 11,376,484 6,049,405
Residual equity transfers in 4,650,769
Residual equity transfers(out) (67,747) (2,207,772)
Fund balances,end of year $14,464,038 $11,376,484
41
CITY OF DUBLIN
SPECIAL REVENUE FUNDS
TRAFFIC SAFETY FUND
Established to account for the receipt of traffic fines and
traffic safety expenditures.
STATE GAS TAX FUND
Established to account for receipt of state gasoline taxes and
expenditures.
TRANSPORTATION DEVELOPMENT ACT FUND
Established to account for Transportation Development Act grant
receipts and construction expenditures for bikepaths and access
ramps for the handicapped.
SPECIAL CRIMINAL ACTIVITY FUND
Established to account for receipt of funds derived from asset
f orf eitures.
FEDERAL AID URBAN HIGHWAY FUND
Established to account for receipt of Federal Aid Urban Highway
grants.
COMMUNITY DEVELOPMENT BLOCK GRANT FUND
Used to account for grants and expenditures related to the
community development block grants.
PARK DEDICATION FUND
Established to account for park dedication fees received in lieu
of property from developers pursuant to the Quimby Act.
STATE PARK BOND ACT FUND
Established to account for proceeds from the State bond sales.
SALES TAX MEASURE B FUND
Established to account for an Alameda County voter approved
increase in sales tax used for improvements on streets and roads.
BOND FUND MEASURE AA
Established to account for proceeds from Measure AA State bond
sales for park capital improvements.
SAFCO GRANT FUND
Established to account for grant receipts from the state used for
capital improvements on parks.
42
(This Page Left Blank Intentionally)
CITY OF DUBLIN
SPECIAL REVENUE FUNDS
MAINTENANCE DISTRICTS
Established to account for revenue and related expenditures of
lighting and landscape activities.
DUBLIN BOULEVARD EXTENSION FUND
Established to identify the costs associated with determining the
types of financing available for various options on the
improvements needed for Dublin Boulevard.
COMMUNITY PARKLAND ACT FUND
Established to account for State bond proceeds for park
improvements.
44
CITY OF DUBLIN
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 1990
WITH COMPARATIVE AMOUNTS AS OF JUNE 30, 1989
Federal
Transportation Special Aid Community
Traffic State Development Criminal Urban Development Park
Safety Gas Tax Act Activity Highway Block Grant Dedication
ASSETS
Cash and investments $10,907 $168,034 $25,276 $145,048
Accounts receivable 405
Due from other governments $75,000 $147,121
Total Assets $10,907 $168,034 $75,000 $25,681 $147,121 $145,048
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $7,447 $88,661 $5,374 $1,099 $39,461
Due to other funds 144,051 $146,499
Deferred revenue
Total Liabilities 7,447 88,661 149,425 1,099 146,499 39,461
Fund Balances:
Designated for authorized expenditures 3,460 79,373 24,582 622 105,587
Undesignated fund balances(deficits) (74,425)
Total Fund Balances(Deficits) 3,460 79,373 (74,425) 24,582 622 105,587
Total Liabilities and Fund Balances $10,907 $168,034 $75,000 $25,681 $147,121 $145,048
45
MAINTENANCE DISTRICTS
State Dougherty Dublin Community TOTALS
Park Sales Tex Bond Fund Safco Street Stagecoach Landscape Boulevard Parkland
Bond Act Measure B Measure AA Grant Lighting Landscape &Lighting Extension Bond 1990 1989
$24,111 $1,280 $119,908 $19,661 $127,777 $49 $15,023 $657,074 $1,589,444
12,422 12,827 2,214
222,121 48,000
$24,111 $1,280 $119,908 $19,661 $140,199 $49 $15,023 $892,022 $1,639,658
$2,926 $6,448 $14,494 $2,801 $5,612 $174,323 $283,913
$12,209 $3,225 4,279 $1,500 311,763 60,209
26,000
12,209 3,225 2,926 10,727 14,494 2,801 5,612 1,500 486,086 370,122
20,886 105,414 16,860 134,587 15,023 506,394 1,319,498
(12,209) (1,646) (10,727) (1,451) (100,458) (49,962)
(12,209) 20,886 (1,646) (10,727) 105,414 16,860 134,587 (1,451) 15,023 405,936 1,269,536
$24,111 $1,280 $119,908 $19,661 , $140,199 $49 $15,023 $892,022 $1,639,658
46
CITY OF DUBLIN
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED JUNE 30, 1989
Transportation Special Federal Community
Traffic State Development Criminal Aid Urban Development Park
Safety Gas Tax Act Activity Highway Block Grant Dedication
REVENUES
Taxes
Sales and use taxes
Intergovernmental
FAU grant $147,121 $26,000
Gasoline tax $332,031
TDA Act funds $75,000
State park bond
State senior citizen bond
State parkland grant
Fines and forfeits
Vehicle code fines $71,806
Use of money and property
Interest 1,805 23,503 $2,324 $10,906
All other
Park dedication fees and flood grant 11,591 648,776.
Miscellaneous
Special assessments
Total Revenues 73,611 355,534 75,000 13,915 147,121 26,000 659,682
EXPENDITURES
General government
Service and supplies 4,716
Public safety
Service and supplies 38,051 15,967
Contract services 52,294
Highways and streets
Service and supplies 42,784
Contract services 378,216
Community development
Service and supplies
Contract services 4,783
Culture and leisure
Service and supplies
Contract services
Capital outlay
Service and supplies 126,818 544,201
Contract services 4,044 155,047 66,250
Total Expenditures 90,345 425,783 135,578 15,967 155,047 610,451
EXCESS OF REVENUES OVER
(UNDER)EXPENDITURES (16,734) (70,249) (60,578) (2,052) (7,926) 26,000 49,231
OTHER FINANCING SOURCES(USES)
Operating transfers in 8,660
Operating transfers(out) (849,435)
Total Other Financing Sources(Uses) 8,660 (849,435)
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER(UNDER)EXPENDITURES
AND OTHER FINANCING USES (16,734) (70,249) (60,578) (2,052) (7,926) 34,660 (800,204)
Fund balances(deficits),beginning of the year 20,194 149,622 (13,847) 26,634 8,548 (34,660) 905,791
Fund balances(deficits), end of the year $3,460 $79,373 ($74,425) $24,582 $622 $105,587
47
MAINTENANCE DISTRICTS TOTALS
Dougherty Dublin Community
State Park Sales Tax Bond Fund Safco Street Stagecoach Landscape Boulevard Parkland
Bond Act Measure B Measure AA Grant Lighting Landscape &Lighting Extension Act 1990 1989
$106,941 $106,941 $88,416
173,121 1,054,226
332,031 311,225
75,000 160,600
$64,815 64,815 50,000
73,650
$90,000 90,000 48,000
71,806 88,443
4,900 $7,215 $792 $9,033 $4 60,482 157,558
660,367
4,238
166,754 43,566 76,885 287,205 262,197
64,815 111,841 90,000 173,969 44,358 85,918 4 1,921,768 2,298,553
4,716 2,478
139,585 193,603 172,039
6,526 58,820 53,172
9,247 11,081 63,112 49,214
26,620 34,527 439,363 415,379
825
4,700 2,741 4,506 16,730 14,641
175 175 920
11,804
75,784 86,108 100,063 932,974 1,496,323
1,240 6,209 1,646 664 235,100 165,648
77,024 92,317 1,646 100,727 150,811 38,783 50,114 1,944,593 2,382,443
(12,209) 19,524 (1,646) (10,727) 23,158 5,575 35,804 4 (22,825) (83,890)
8,660
(849,435) (123,650)
(840,775) (123,650)
(12,209) 19,524 (1,646) (10,727) 23,158 5,575 35,804 4 (863,600) (207,540)
1,362 82,256 11,285 98,783 (1,455) $15,023 1,269,536 1,477,076
($12,209) $20,886 ($1,646) ($10,727) $105,414 $16,860 $134,587 ($1,451) $15,023 $405,936 $1,269,536
A
CITY OF DUBLIN
BUDGETED SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 1990
TRAFFIC SAFETY STATE GAS TAX
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Taxes
Sales and use taxes
Intergovernmental
FAU grant
Gasoline tax $317,000 $332,031 $15,031
TDA Act funds
State park bond
State parkland grant
Fines and forfeits
Vehicle code fines $88,000 $71,806 ($16,194)
Use of money and property
Interest 1,200 1,805 605 5,200 23,503 18,303
All other
Park dedication fees and flood grant
Miscellaneous
Special assessments
Total Revenues 89,200 73,611 (15,589) 322,200 355,534 33,334
EXPENDITURES
General government
Service and supplies
Public safety
Service and supplies 40,000 38,051 1,949
Contract services 67,300 52,294 15,006
Highways and streets
Service and supplies 42,000 42,784 (784)
Contract services 404,500 378,216 26,284
Community development
Contract services 5,000 4,783 217
Culture and leisure
Service and supplies
Capital outlay
Service and supplies
Contract services
Total Expenditures 107,300 90,345 16,955 451,500 425,783 25,717
EXCESS OF REVENUES OVER
(UNDER)EXPENDITURES (18,100) (16,734) (32,544) (129,300) (70,249) 7,617
OTHER FINANCING SOURCES(USES)
Operating transfers(out)
Total Other Financing Sources(Uses)
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER(UNDER)EXPENDITURES
AND OTHER FINANCING USES ($18,100) (16,734) ($32,544) ($129,300) (70,249) $7,617
Fund balances(deficits),beginning of the year 20,194 149,622
Fund balances(deficits), end of year $3,460 $79,373
49
FEDERAL AID URBAN
TRANSPORTATION DEVELOPMENT ACT SPECIAL CRIMINAL ACTIVITY HIGHWAY
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$511,235 $147,121 ($364,114)
$135,100 $75,000 ($60,100)
$2,350 $2,324 ($26)
10,000 11,591 1,591
135,100 75,000 (60,100) 12,350 13,915 1,565 511,235 147,121 (364,114)
4,716 (4,716)
20,100 15,967 4,133
130,100 126,818 3,282 4,000 4,000
5,000 4,044 956 241,000 155,047 85,953
135,100 135,578 (478) 20,100 15,967 4,133 245,000 155,047 89,953
(60,578) (59,622) (7,750) (2,052) (2,568) 266,235 (7,926) (454,067)
(60,578) ($59,622) ($7,750) (2,052) ($2,568) $266,235 (7,926) ($454,067)
(13,847) 26,634 8,548
($74,425) $24,582 $622
50 (Continued)
CITY OF DUBLIN
BUDGETED SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 1990
PARK DEDICATION STATE PARK BOND ACT
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Taws
Sales and use taxes
Intergovernmental
FAU grant
Gasoline tax
TDA Act funds
State park bond $77,024 $64,815 ($12,209)
State parkland grant
Fines and forfeits
Vehicle code fines
Use of money and property
Interest $8,200 $10,906 $2,706
All other
Park dedication fees and flood grant 633,700 648,776 15,076
Miscellaneous
Special assessments
Total Revenues 641,900 659,682 17,782 77,024 64,815 (12,209)
EXPENDITURES
General government
Service and supplies
Public safety
Service and supplies
Contract services
Highways and streets
Service and supplies
Contract services
Community development
Contract services
Culture and leisure
Service and supplies
Capital outlay
Service and supplies 581,230 544,201 37,029 77,024 75,784 1,240
Contract services 60,670 66,250 (5,580) 1,240 (1,240)
Total Expenditures 641,900 610,451 31,449 77,024 77,024
EXCESS OF REVENUES OVER
(UNDER)EXPENDITURES 49,231 (13,667) (12,209) (12,209)
OTHER FINANCING SOURCES(USES)
Operating transfers(out) (849,435) (849,435)
Total Other Financing Sources(Uses) (849,435) (849,435)
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER(UNDER)EXPENDITURES
AND OTHER FINANCING USES (800,204) ($863,102) (12,209) ($12,209)
Fund balances(deficits),beginning of the year 905,791
Fund balances(deficits), end of year $105,587 ($12,209)
51
SALES TAX MEASURE B BOND FUND MEASURE AA SAFCO GRANT
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$92,000 $106,941 $14,941
$473,487 ($473,487)
$100,000 $90,000 ($10,000)
800 4,900 4,100
92,800 111,841 19,041 473,487 (473,487) 100,000 90,000 (10,000)
91,877 86,108 5,769 100,000 100,063 (63)
6,209 (6,209) 473,487 1,646 471,841 664 (664)
91,877 92,317 (440) 473,487 1,646 471,841 100,000 100,727 (727)
923 19,524 19,481 (1,646) (945,328) (10,727) (9,273)
$923 19,524 $19,481 (1,646) ($945,328) (10,727) ($9,273)
1,362
$20,886 ($1,646) ($10,727)
(Continued)
52
CITY OF DUBLIN
BUDGETED SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 1990
MAINTENANCE DISTRICTS
STREET LIGHTING STAGECOACH LANDSCAPE
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Taxes
Sales and use taxes
Intergovernmental
FAU grant
Gasoline tax
TDA Act funds
State park bond
State parkland grant
Fines and forfeits
Vehicle code fines
Use of money and property
Interest $5,400 $7,215 $1,815 $200 $792 $592
All other
Park dedication fees and flood grant
Miscellaneous 5,000 (5,000)
Special assessments 159,200 166,754 7,554 41,900 43,566 1,666
Total Revenues 169,600 173,969 4,369 42,100 44,358 2,258
EXPENDITURES
General government
Service and supplies
Public safety
Service and supplies 152,475 139,585 '12,890
Contract services 8,625 6,526 2,099
Highways and streets
Service and supplies 11,000 9,247 1,753
Contract services 28,900 26,620 2,280
Community development
Contract services 8,500 4,700 3,800 2,000 2,741 (741)
Culture and leisure
Service and supplies 175 (175)
Capital outlay
Service and supplies
Contract services
Total Expenditures 169,600 150,811 18,789 41,900 38,783 3,117
EXCESS OF REVENUES OVER
(UNDER)EXPENDITURES 23,158 (14,420) 200 5,575 (859)
OTHER FINANCING SOURCES(USES)
Operating transfers(out)
Total Other Financing Sources(Uses)
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER(UNDER)EXPENDITURES
AND OTHER FINANCING USES 23,158 ($14,420) 200 5,575 ($859)
Fund balances(deficits),beginning of the year 82,256 11,285
Fund balances(deficits), end of year $105,414 $16,860
53
DOUGHERTY LANDSCAPE AND LIGHTING TOTAL
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$92,000 $106,941 $14,941
511,235 147,121 (364,114)
317,000 332,031 15,031
135,100 75,000 (60,100)
550,511 64,815 (485,696)
100,000 90,000 (10,000)
88,000 71,806 (16,194)
$5,800 $9,033 $3,233 29,150 60,478 31,328
643,700 660,367 16,667
5,000 (5,000)
72,494 76,885 4,391 273,594 287,205 13,611
78,294 85,918 7,624 2,745,290 1,895,764 (849,526)
4,716 (4,716)
212,575 193,603 18,972
75,925 58,820 17,105
16,200 11,081 5,119 69,200 63,112 6,088
87,500 34,527 52,973 520,900 439,363 81,537
2,000 4,506 (2,506) 17,500 16,730 770
175 (175)
984,231 932,974 51,257
780,157 235,100 545,057
105,700 50,114 55,586 2,660,488 1,944;593 715,895
(27,406) 35,804 (47,962) 84,802 (48,829) (1,565,421)
(849,435) (849,435)
(849,435) (849,435)
($27,406) 35,804 ($47,962) $84,802 (898,264) ($2,414,856)
98,783 1,290,628
$134,587 $392,364
54
CITY OF DUBLIN
CAPITAL PROJECTS FUNDS
The Capital projects fund is used to account for acquisition and
construction of capital facilities other than those financed by
proprietary funds. See combined statements for details.
55
CITY OF DUBLIN
CAPITAL PROJECTS FUND
COMPARATIVE BALANCE SHEET
JUNE 30, 1990 AND 1989
1990 1989
ASSETS
Cash and investments $104,965 $102,552
Total Assets $104,965 $102,552
LIABILITIES AND FUND BALANCES
LIABILITIES:
Account payable $6,429
Due to other funds $66,864
Deposits payable 149,372 77,346
Total Liabilities 155,801 144,210
FUND BALANCES(DEFICITS)
Undesignated (50,836) (41,658)
Total Fund Balances(Deficits) (50,836) (41,658)
Total Liabilities and Fund Balances(Deficits) $104,965 $102,552
56
CITY OF DUBLIN
CAPITAL PROJECTS FUND
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 1990
WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED JUNE 30, 1989
1990 1989
Variance
Favorable
Budget Actual (Unfavorable) Actual
REVENUES
Use of money and property $11,727 $11,727 $8,982
Other revenue $260,152 227,808 (32,344) 18,434
Total Revenues 260,152 239,535 (20,617) 27,416
EXPENDITURES
Capital outlay
Land,equipment and other facilities 280,373 228,815 51,558 4,000
Contractual services 47,000 86,762 (39,762) 12,328
Total Expenditures 327,373 315,577 11,796 16,328
EXCESS OF REVENUES OVER
(UNDER)EXPENDITURES (67,221) (76,042) (8,821) 11,088
OTHER FINANCING SOURCES
Operating transfer in 66,864 66,864 50,000
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES ($67,221) (9,178) $58,043 61,088
Fund balances(deficits),beginning of year (41,658) (102,746)
Fund balances(deficits), end of year ($50,836) ($41,658)
57
CITY OF DUBLIN
AGENCY FUNDS
Agency funds are used to account for assets held by the city in
a fiduciary capacity for individuals, governmental entities and
others. These funds carry out the specifications of trust
indentures, ordinances or other regulations.
SAN RAMON ROAD SPECIFIC IlVIPROVEMENT PLAN AGENCY FUND
To account for the special assessment established to fund the
improvements to San Ramon Road.
58
CITY OF DUBLIN
SAN RAMON ROAD SPECIFIC
IMPROVEMENT PLAN AGENCY FUND
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED JUNE 30, 1990
Balance Balance
July 1, 1989 Additions Reductions June 30, 1990
ASSETS
Restricted cash and investments $554,390 $626,934 ($545,798) $635,526
Total Assets $554,390 $626,934 ($545,798) $635,526
LIABILITIES
Due to bondholders $554,390 $626,934 ($545,798) $635,526
Total Liabilities $554,390 $626,934 ($545,798) $635,526
59
STATISTICAL SECTION
CITY OF DUBLIN
STATISTICAL SCHEDULES
Statistical tables are included to provide data on the city's
demographic, economic and political characteristics. They will
help the user to understand the city and its fiscal affairs
beyond the level which is provided by the general purpose
financial statements and supporting schedules included in the
financial section of this report.
61
CITY OF DUBLIN
GOVERNMENTAL EXPENDITURES BY FUNCTION
ALL GOVERNMENTAL FUND TYPES
LAST EIGHT FISCAL YEARS
PUBLIC
SAFETY AND
GOVERNMENTAL HEALTH HIGHWAYS CULTURE
FISCAL AND FACILITIES AND AND COMMUNITY AND CAPITAL
YEAR RENTS WELFARE STREETS DEVELOPMENT LEISURE OUTLAY TOTAL
1982-1983 $222,837 $1,179,124 $150,069 $152,064 $3,348 $112,909 $1,820,351
1983-1984 273,906 1,327,700 199,291 434,921 64,602 714,566 3,014,986
1984-1985 361,392 1,494,855 319,247 602,567 224,588 1,982,847 4,985,496
1985-1986 542,616 1,676,247 635,445 961,541 309,092 3,641,282 7,766,223
1986-1987 2,208,131 1,770,331 730,051 1,062,858 365,193 3,668,733 9,805,297
1987-1988 2,308,376 2,039,119 813,482 1,091,901 524,622 2,914,458 9,691,958
1988-1989 1,286,201 3,986,097 941,276 1,336,870 1,026,538 3,214,398 11,791,380
1989-1990 2,047,506 4,672,847 1,021,641 1,583,504 1,274,861 2,652,683 13,253,042
NOTE: CITY WAS INCORPORATED IN 1982-1983
SOURCE: CITY OF DUBLIN ANNUAL FINANCIAL REPORT
INCLUDES FIRE SERVICES AND CULTURE AND LEISURE SERVICES RESPONSIBILITIES
ASSUMED JULY 1, 1988.
INCLUDES FEDERAL AID URBAN EXPENDITURES BEGINNING IN 1986-1987.
62
CITY OF DUBLIN
GENERAL GOVERNMENTAL REVENUES BY SOURCE
ALL GOVERNMENTAL FUND TYPES
LAST EIGHT FISCAL YEARS
REVENUES USE OF
LICENSES FROM INTER- CHARGES MONEY FINES
FISCAL AND GOVERNMENTAL FOR AND AND OTHER SPECIAL
YEAR TAXES PERMITS AGENCIES SERVICES PROPERTY FORFEITS REVENUE ASSESSMENT TOTAL
1982-1983 $3,009,677 $3,936 $905,461 $32,906 $132,913 $48,806 $5,055 $4,138,754
1983-1984 3,845,968 345,346 1,114,109 123,124 409,198 61,734 533,113 6,432,592
1984-1985 4,738,818 333,982 1,456,930 260,217 1,004,263 68,301 556,690 $137,145 8,556,346
1985-1986 5,062,103 410,246 1,436,379 682,324 1,111,034 68,995 381,784 435,995 9,588,860
1986-1987 5,837,811 586,320 1,965,454 593,407 883,644 91,755 501,802 157,704 10,617,897
1987-1988 6,179,005 532,696 1,660,205 466,673 1,074,160 94,584 593,069 246,915 10,847,307
1988-1989 9,305,662 292,189 2,567,703 738,314 1,183,847 104,641 68,617 262,197 14,523,170
1989-1990 9,769,276 315,010 1,667,801 1,090,386 1,405,882 91,221 908,784 287,205 15,535,565
SOURCE: CITY OF DUBLIN ANNUAL FINANCIAL REPORT
NOTE: CITY WAS INCORPORATED IN 1982-1983
63
CITY OF DUBLIN
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST EIGHT FISCAL YEARS
TOTAL
FISCAL SECURED UNSECURED NET ASSESSED
YEAR PROPERTY UTILITY PROPERTY VALUATION
1982-1983 $420,655,192 $11,395,380 $52,149,934 $484,200,506
1983-1984 474,965,963 12,582,160 62,296,499 549,844,622
1984-1985 515,660,344 13,182,170 64,760,035 593,602,549
1985-1986 598,426,296 14,662,390 74,740,855 687,829,541
1986-1987 721,792,937 16,371,040 82,214,150 820,378,127
1987-1988 802,835,061 18,759,300 85,253,484 906,847,845
1988-1989 962,867,790 1,812,200 84,339,466 1,049,019,456
1989-1990 1,086,479,184 1,812,200 94,717,004 1,183,008,388
SOURCE: ALAMEDA COUNTY OFFICE OF THE AUDITOR-CONTROLLER
NOTE: CITY WAS INCORPORATED IN 1982-1983
64
CITY OF DUBLIN
PROPERTY TAX RATES
ALL OVERLAPPING GOVERNMENTS
LAST EIGHT FISCAL YEARS
FLOOD BAY EAST DUBLIN
BASIC ZONE AREA BAY SAN RAMON
FISCAL COUNTY SCHOOL STATE RAPID PARKS SERVICES ALAMEDA
YEAR WIDE LEVY DISTRICTS BONDS TRANSIT BOND DISTRICT COUNTY TOTAL
1982-1983 $1.0000 $0.2157 $0.0363 $0.0628 $0.0162 $0.0060 $1.3370
1983-1984 1.0000 0.1979 0.0326 0.0617 0.0164 0.0094 1.3180
1984-1985 1.0000 0.2045 0.0291 0.0572 0.0156 0.0091 1.3155
1981986 1.0000 0.1136 0.0429 0.0508 0.0055 1.2128
1986-1987 1.0000 0.0820 0.0185 0.0421 0.0051 1.1477
1987-1988 1.0000 0.0958 0.0119 0.0390 0.0032 0.0017 1.1516
1988-1989 1.0000 0.0862 0.0183 0.0372 0.0019 0.0019 1.1455
1989-1990 1.0000 0.0701 0.0198 0.0319 $0.0047 0.0020 0.0019 1.1304
SOURCE: ALAMEDA COUNTY OFFICE OF THE AUDITOR-CONTROLLER
NOTE: CITY WAS INCORPORATED IN 1982-1983
65
CITY OF DUBLIN
COMPUTATION OF LEGAL DEBT MARGIN
JUNE 30, 1990
Assessed vauluation
Assessed value $1,183,008,388
Add back exempt real property 41,206,819
Total Assessed Value $1,224,215,207
Legal debt margin :
Debt limitation- 15 percent of total assessed value $183,632,281
Percent of debt limit authorized and issued 0.00%
SOURCE: CITY OF DUBLIN FINANCE DEPARTMENT
EXCLUDES CERTIFICATES OF PARTICIPATION AND 1915 ACT BONDS SINCE
THEY ARE NOT GENERAL OBLIGATION DEBT.
66
CITY OF DUBLIN
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
JUNE 30, 1990
NET DEBT
PERCENTAGE OUTSTANDING
APPLICABLE APPLICABLE
TO CITY OF TO CITY
JURISDICTION DUBLIN OF DUBIN
Alameda County Authorities 2.262 $4,205,149
Alameda County Superintendent of Schools 2.262 192,949
Oakland-Alameda County Coliseum Authority 1.131 171,233
Bay Area Rapit Transit District 0.854 2,981,314
Alameda County Flood Control District, Zone#7 13.647 126,917
South County Joint Community College District 5.321 8,780
Amador Valley Joint Union High School District
and Certificates of Participation 22.971 686,730 (1)
Dublin Joint Unified School District 99.285 3,474,975
Murry School District 22.972 233,165
East Bay Regional Park District 1.302 783,934
Dublin-San Ramon Community Services District I.D. N1 59.006 79,658
Bay Area Pollution Control Authority 0.399 1,317
City of Dublin Certificates of Participation 100.000 17,230,000
City of Dublin 1915 Act Bonds 100.000 605,000
TOTAL GROSS DIRECT AND OVERLAPPING BONDED DEBT 30,781,121
LESS: OAKLAND-ALAMEDA COUNTY COLISEUM AUTHORITY
(100% SELF-SUPPORTING) 171,233
TOTAL 530,609,888
(1)Excludes tax and revenue anticipation notes; revenue, mortgage revenue and
tax allocation bonds; and non-bonded capital lease.
STATE SCHOOL BUILDING AID REPAYABLE AS OF 6/30/90: $2,502,736
SOURCE:CALIFORNIA MUNICIPAL STATISTICS, INC. AND CITY FINANCE DEPARTMENT.
67
CITY OF DUBLIN
DEMOGRAPHIC STATISTICS
LAST EIGHT FISCAL YEARS
ALAMEDA CITY RANK IN SIZE
FISCAL COUNTY POPULATION OF CALIFORNIA
YEAR POPULATION POPULATION % OF COUNTY CITIES
1982-1983 + 1,132,300 + •
1983-1984 15,100 1,149,200 1.31% 230
1984-1985 15,500 1,166,800 1.33% 232
1985-1986 15,450 1,181,000 1.31% 237
a
1986-1987 17,650 1,201,400 1.47% 231
1987-1988 20,850 1,214,200 1.72% 218
1988-1989 21,950 1,234,900 1.78% 221
1989-1990 23,550 1,252,600 1.88% 220
+INFORMATION NOT AVAILABLE
SOURCE: STATE OF CALIFORNIA DEPT.OF FINANCE—POPULATION RESEARCH UNIT
NOTE:CITY INCORPORATED IN 1982-1983
68
CITY OF DUBLIN
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
LAST EIGHT FISCAL YEARS
TOTAL COMMERCIAL RESIDENTIAL
FISCAL NUMBER OF CONSTRUCTION CONSTRUCTION BANK
YEAR PERMITS ISSUED VALUE VALUE DEPOSITS
1982-1983 529 $7,048,317 $24,784,393 $164,428,000
1983-1984 525 3,461,360 7,245,025 232,571,000
1984-1985 768 16,093,749 18,991,926 247,622,000
1985-1986 868 17,720,298 90,012,961 294,462,000
1986-1987 1,193 11,784,734 44,889,395 336,751,000
1987-1988 1,068 12,777,965 52,580,666 378,557,000
1988-1989 901 13,654,511 15,911,836 399,923,000
1989-1990 910 6,367,726 30,536,676 +
+INFORMATION NOT AVAILABLE
SOURCES: FINDLEY REPORTS, INC. AND CITY BUILDING DEPARTMENT STATUS REPORTS
69
CITY OF DUBLIN
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM
FUNDING ANALYSIS
LAST THREE FISCAL YEARS
PERCENT OF
UNFUNDED
PENSION
BENEFIT
UNFUNDED OBLIGATION
NET ASSETS PENSION PENSION ANNUAL TO ANNUAL
FISCAL AVAILABLE BENEFIT PERCENT BENEFIT COVERED COVERED
YEAR FOR BENEFITS OBLIGATION FUNDED OBLIGATION PAYROLL PAYROLL
19861987 $224,510 $193,490 116.03% ($31,020) 641,910 -4.83%
1987-1988 331,670 321,820 103.06% (9,850) 818,530 -1.20%
1988-1989 485,870 433,477 112.09% (52,393) 1,034,010 -5.07%
THE ABOVE INFORMATION WAS NOT AVAILABLE FOR YEARS PRIOR TO
1986 OR FOR FISCAL YEAR 1990.
SOURCE: CALFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM. (PERS)
70
CITY OF DUBLIN
MISCELLANEOUS STATISTICS
Date of Incorporation February 1982 Education:
Form of Government -�Council/Manager I. Public:
Employees ��8�., Elementary Schools 3
Population 25,800 Junior High School 1
Area 8 Sq. Miles High School 1
Miles of Streets 52.60 Continuation School 1
Miles of Curbs 124.70 Teachers 175
Signaled Intersections 20 Elementary Classrooms 69
Number of Street Lights 1,657 Junior High School
Average Daily Trips on Classrooms 32
I-680 77,000 High School Classrooms 88
Average Daily Trips on Continuation School
I-580 14,000 Classrooms 14
Fire Protection: Students Enrolled:
Dougherty Regional Fire Sept. 1982 3,643
Authority Sept. 1983 3,442
Number of Stations 2 Sept. 1984 3,354
Number of Firefighters 52 Sept. 1985 3,326
Sept. 1986 3,407
Sept. 1987 3,499
Police Protection: Sept. 1988 3,213
Number of Stations 1 Sept. 1989 3,135
Number of Police Officers 28 Sept. 1990 3,150
Number of Support Personnel 3
ZI. Priv e-:
Parks & Recreation: Valley ute iLn School
Parks 9 (Elementary) 139
Acres in Parks 147 Valley Christian High
School 121
St. amos School
Number of Registered (Elementary) 263
Voters 9,731
Community Facilities:
Dublin Civic Center
Dublin Senior Center
Dublin Shannon Center
Source: City and School District Records
71
CITY OF DUBLIN
SCHEDULE OF 1985 CERTIFICATES OF PARTICIPATION COVERAGE
FISCAL YEARS 1985-1988
NET REVENUE DEBT SERVICE
DIRECT AVAILABLE REQUIREMENTS
FISCAL GROSS OPERATING FOR DEBT
YEAR REVENUE(1) EXPENSES (2) SERVICE PRINCIPAL INTEREST TOTAL COVERAGE
198.5-1986 $667,811 $667,811 $667,811 $667,811 100.000%
1986-1987 1,815,555 $443,194 1,372,361 $173,000 1,078,080 1,251,080 109.694%
1987-1988 13,180,797 27,216 13,153,581 11,795,000 (3) 1,066,403 12,861,403 102.272%
(1)GROSS REVENUE INCLUDES RENT, INTEREST INCOME AND 1985 CERTIFICATES OF PARTICIPATION
PROCEEDS EARMARKED FOR DEBT SERVICE. THE 1987-1988 TOTAL INCLUDES$11,615,000
PRINCIPAL AMOUNT OF 1988 CERTIFICATES OF PARTICIPATION PROCEEDS USED TO DEFEASE
THE 1985 CERTIFICATES OF PARTICIPATION.
(2)DIRECT OPERATING EXPENSES EXCLUDES INTEREST AND DEPRECIATION
(3)INCLUDES$11,615,000 PRINCIPAL AMOUNT OF 1985 CERTIFICATES OF PARTICIPATION
DEFEASED IN 1988 AND NO LONGER THE CITY'S DEBT
SOURCE: CITY OF DUBLIN ANNUAL FINANCIAL REPORT
72
CITY OF DUBLIN
SCHEDULE OF 1988 CERTIFICATES OF PARTICIPATION COVERAGE
LAST TWO FISCAL YEARS
NET REVENUE DEBT SERVICE
DIRECT AVAILABLE REQUIREMENT
FISCAL GROSS OPERATING FOR DEBT
YEAR REVENUE(1) EXPENSES(2) SERVICE PRINCIPAL INTEREST TOTAL COVERAGE
1988-1989 $1,547,681 $33,328 $1,514,353 $0 $1,195,838 $1,195,838 126.64`7
1989-1990 1,452,254 30,945 1,421,309 0 1,299,820 1,299,820 109.359
(1)GROSS REVENUE INCLUDES RENT, INTEREST INCOME AND 1988 CERTIFICATES
OF PARTICIPATION PROCEEDS EARMARKED FOR DEBT SERVICE.
(2)DIRECT OPERATING EXPENSES EXCLUDES INTEREST AND DEPRECIATION
SOURCE: CITY OF DUBLIN ANNUAL FINANCIAL REPORT
73
CITY OF DUBLIN
PROPERTY TAX LEVIES AND COLLECTIONS
LAST SEVEN FISCAL YEARS
PERCENT
OF TOTAL
TOTAL TAX
PROPERTY PROPERTY COLLECTED
FISCAL TAX TAX TO TAX
YEAR LEVIED COLLECTED LEVIED
1983-1984 $363,804 $346,406 95.22%
1984-1985 399,650 380,095 95.11%
1985-1986 467,835 444,612 95.04%
1986-1987 553,730 523,149 94.48%
1987-1988 618,512 590,860 95.53%
1988-1989 2,915,555 2,797,473 95.95%
1989-1990 3,286,145 3,149,417 95.94%
THE CITY WAS INCORPORATED IN 1982. NO PROPERTY TAX WAS ALLOCATED TO
THE CITY PRIOR TO THAT YEAR. THE CITY ACQUIRED THE RESPONSIBILITY
FOR PARKS MAINTENANCE,FIRE PROTECTION SERVICES AND THE RELATED
PROPERTY TAXES IN FISCAL YEAR 1988-1989
SOURCE: ALAMEDA COUNTY AUDITOR-CONTROLLER OFFICE
74
CITY OF DUBLIN
PRINCIPAL TAXPAYERS
JUNE 30, 1990
PERCENT OF
TOTAL
ASSESSED ASSESSED
TAXPAYER VALUE VALUE
Bedford Peter B.and Kirsten N. $28,499,959 2.41%
Cottonwood Associates 20,004,468 1.69%
Fidelity Mutual Life Insurance Company 16,436,796 1.39%
Dublin Associates 14,471,428 1.22%
Phoenix Mutual Life Insurance Company 13,680,245 1.16%
Montgomery Ward Development Corporation 13,281,861 1.12%
Chevron U.S.A. Inc. 11,782,281 1.00%
Dublin Spring Inc. 10,827,607 .92%
Enea Plaza 10,599,382 .90%
Kildara Properties 5,776,769 .49%
SOURCE: COUNTY OF ALAMEDA
75