HomeMy WebLinkAbout4.10 Annual Audit 02-03 CITY CLERK
File # II
AGENDA STATEMENT'
CITY COUNCIL MEETING DATE: January 20, 2004
SUBJECT: Annual Audit Report for Fiscal Year 2002-2003
Report Prepared by: Carole A. Perry, Administrative Services
Director and Fred W. Marsh, Finance Manager
ATTACHMENTS: 1. Comprehensive Annual Financial Report,
dated June 30, 2003
.
RECOMMENDATION: 1. Receive the Reports
2. Confirm the Reservations of Fund Balances
for Fiscal Year 2002-2003
FINANCIAL STATEMENT: See Staff Report.
DESCRIPTION: The City of Dublin has compiled and published its Comprehensive Annual
Financial Report (CAFR), Attachment 1, for the Fiscal Year ending June 30, 2003. This report includes
financial statements prepared by Vavrinek, Trine, Day,& Co. (VTD), the independent auditors selected by
the City Council. This is the eighth year that VTD has conducted this audit for the City.
The financial section of the report includes an unqualified opinion issued by VTD. The audit was also
reviewed on December 9, 2003 by the City Council Ad Hoc Audit Committee. The Committee met with
the auditors to review the information and discuss the report. Overall, the Auditors found no matters
involving the City's internal controls over its financial reporting and operations that were considered to be
a material weakness requiring disclosure in a management letter.
The City's audit report for Fiscal Year 2002-2003 has been prepared in compliance with the principles of
Governmental Accounting Standards Board (GASB) Statement 34. The transmittal letter (pages vii - x)
and the Management Discussion and Analysis (pages 3 - 13), provide a good overview of the financial
activities of the City. This letter focuses on significant trends, as well as major changes associated with
the City's major fimds (i.e. General Fund and Impact Fee funds). The General Fund represents the largest
portion'of the City's revenues and expenditures; therefore, is of primary importance in evaluating the
City's fiscal condition. The statistical section in the CAFR (pages 112-124) includes graphs of relevant
historical data. This visual presentation can be helpful in identifying trends and/or the timing of key
changes which have impacted the City's financial condition.
COPIES TO: Kevin Pulliam, VTD
Gail Smith, VTD ~~
I~" ITEM NO.__
G:kAuditkFY 02-03\cafr~agenda statement for final audit report.doc
DESIGNATIONS OF FUND BALANCES
A. For Recycling Programs - Measure D RecYcling Fund
During the last seven fiscal years the City has received Mitigation and Recycled Product Grant Funds
from County Waste Management Authority (WMA), which were to be utilized solely for designated
Recycling Programs. All of these fimds have been accounted for in the Measure D Recycling Fund. As of
June 30, 2003, the City will have $315,859 available to carryover to FiscalYear 2003-2004. These funds
have been shown as a separate restricted fund balance, in order to segregate them from the remainder of
the Measure D Funds, since they will be a source of funding for enhanced recycling programs. The City
Council is requested to confirm the designation as part of accepting this report.
B. For Authorized Expenditures
This designation is established to allow the City Council' to carryover ady unused funds as of June 30,
2003, to fund future year operations and projects for each of those funds with a positive fund balance.
The City Council is requested to confirm the designation for all funds with a positive fund balance as of
June 30, 2003, as part of accepting this report.
C. Other General Fund Designations of Fund Balance
The City Manager proposed, as part of his transmittal letter in the Preliminary Budget and Financial Plan
for Fiscal Year 2003-04, that the anticipated surplus for Fiscal Year 2002-03 be allocated to the projects
listed below as follows:
General Fund Designation Proposed Amount
Open Space / Downtown $373,640
Affordable Housing $373,640
Economic Uncertainty $282,832
CIP Carryovers $571,173
Total $1,601,285
As part of thc Ad Hoc Audit Committee meeting· held on January 7, 2004, it was recommended that the
final actual surplus of $4,610,213 be allocated to thc projects above, with the remainder being allocated to
thc Designated Reserve for the Senior Center project ($2,332,416) and the Reserve for Economic
Uncertainty ($676,512 ).
Thc City Council is requested to confirm these designations as part of accepting this report.
CONCLUSION
Staff recommends that the City Council receive and file the reports and confirm the designation of Fund
Balances as presented in the audit.
CITY OF DUBLIN
DUBLIN, CALIFORNIA
COMPREHENSIVE
ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED
JUNE 30, 2003
Prepared By: Administrative Services Department
INTRODUCTORY SECTION
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CITY OF DUBLIN
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2003
TABLE OF CONTENTS
Page
INTRODUCTORY SECTION
Table o£ Contents ................................................................................................... i
Elected Officials and Administration Personnel .................................................................iv
Organizational Chart .......... ' ...................................................................................... v
GFOA Certificate of Achievement for Excellence in Financial Reporting .................................. vi
Letter of Transmittal ................................................................................................ vii
FINANCIAL SECTION
Independent Auditors' Report ................................................................................. 1
Management's Discussions and 3malysis (Required Supplementary Information) .................. 3
Basic Financial Statements
Government-wide Financial Statements:
Statement of Net Assets .......... -:. ....................................................................... 14
15
Statement of Activities ........................ ~., .. .................. :. · ..... .-. .................. .. ..........
Fund Financial Statements
.. 16
Balance Sheet - Governmental Funds ............................................................
Reconciliation of the Fund Balance of Governmental Funds
to the Statement of Net Assets - Governmental Funds .............................................. 18
Statement of Revenues, Expenditures, and
Changes in Fund Balances - Governmental Funds ................................................. 19
Reconciliation of the Statement of Revenues, Expenditures, and
Changes in Fund Balances of Governmental Funds
to the Statement of Activities - Governmental Funds ............................................. 21
Statement of Revenues, Expenditures, and Changes in
Fund Balances Budget and Actual - Governmental Funds ....................................... 22
CITY OF DUBLIN
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2003
TABLE OF CONTENTS (Continued)
FINANCIAL SECTION (Continued)
Basic Financial Statements (Continued)
Fund Financial Statements
Statement of Net Assets - Proprietary Funds ......................................................... 23
Statement of Revenues, Expenses, and Changes in Net Assets - Proprietary Funds ............. 24
Statement of Cash Flows -' Proprietary Funds ......................................................... 25
Statement of Fiduciary Net Assets - Fiduciary Funds ................................................ 26
Notes To Basic Financial Statements .................................................................... 27
Required Supplementary Information
Schedule of Funding Progress Miscellaneous Plan of the
California Public Employee Retirement System 49
Other Supplementary Information
General Fund '
Schedule of Budget Versus Actual Revenues by Source ............................................. 51
Schedule of Budget Versus Actual Departmental Expenditures .................................... 53
Major Fund Budgetary Comparison Schedules 55
Schedule of Revenues, Expenditures, and
Changes in FundBalance - Budget and Actual - Capital Project Funds ........................ 56
Non-major Governmental Funds 60
Combining Balance Sheet ............................................................................... 62
Combining Statement of Revenues, Expenditures and Changes in Fund Balance ................ 68
Schedule of Revenues, Expenditures and Changes in Fund Balances -
Budget and Actual - Special Revenue Funds ..................................................... 74
ii
CITY OF DUBLIN
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2003
TABLE OF CONTENTS (Continued)
Pa~e
FINANCIAL SECTION (Continued)
Other Supplementary Information (Continued)
Internal Service Funds 103
Combi~ng Statement of Net Assets .................................................................. 104
Combining Statement of Revenues, Expenses and Changes in Net Assets ...................... 106
Combining Statement of Cash Flows .................................................................. 108
Agency Funds 110
Statement of Changes in Net Assets ...................................................................111
STATISTICAL SECTION
Governmental Expenditures by Function - All Governmental Fund Types -
Last Ten Fiscal Years ........................................................................ 112
General Governmental Revenues by Source - All GovernmentaFFund Types -
Last Ten Fiscal Years ........................................................................................ 113
Assessed Value of Taxable Property - Last Ten Fiscal Years ................................................ 114
Property Tax Rates - All Direct and Overlapping Governments - Last Ten Fiscal Years .............. 115
Computation of Legal Debt Margin ........................................................................... 116
Computation of Direct and Overlapping Debt ................................................................. 117
Demographic Statistics - Last Ten Fiscal Years ............................................................... 118
Property Value, Construction, and Bank Deposits - Last Ten Fiscal Years ................................ 119
Schedule of 1993 Certificates of Participation Coverage - Fiscal Years 1994-1999 ...................... 120
Property Tax Levies and Collections - Last Ten Fiscal Years ............................................... 121
Principal Property Taxpayers ..................................................................................... 122
Top 25 Sales Tax Producers ..............................................................' ...................... 123
Miscellaneous Statistical Data .................................................................................... 124
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CITY OF DUBLIN
ELECTED OFFICIALS
June 30, 2003
Mayor
Janet LOckhart
Vice Mayor Couneilmember
Claudia McCormick Tony Oravetz
Couneilmember Couneilmember
Tim Sbranti George Zika
ADMIt~rlSTRATION PERSONNEL
City Manager .Richard C. Ambrose
Assistant City Manager Joni L. Pattillo
Administrative Services Director Carole Pen'y
City Attorney Elizabeth Silver
City Clerk Kay Keek
Chief of Police Gary ThUman
Public Works Director Lee Thompson
Community DevelOPment Director Eddie Peabody
Parks & Community Services Director Diane Lowart
Fire Chief Bill McCammon
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AChievement
for Excellence
in Financial
Reporting
CiW of Dublin,
California
For its Compreh~sive ~ual
for'~e FiscM Ye~ Ended
C~cate of AcMevem~t for Excellence ~ F~c~I '
Repo~g ~ presenmd by ~e .~vmmt F~a~ce OffiCers
Association of~e Uffited States ~d C~ m
syste~ whose,co~r~emive ~u~ ~cial
smd~ ~ govement acco~g
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CITY OF DUBLIN
"'.. i .t]~ 100 Civic Plaza Dublin, California 94568 Website: htto://www, ci,dublin.ca, us
I-Ionorable Mayor and
Members of the City Council
Presemed with this transmittal is the City of Dublin Comprehensive Annual Financial Report (CAFR) ~or the year ended
June 30, 2003. The information ha th/s Comprehensive Annual Financial Report is prepared in accordance with
Generally Accepted Accounting Principles (GAAP) as established by the GoxrernmentaI Accounting Standards Board
(GASB) and includes the report prepared by the City's independent certified public accountants, Vavrir~ek, Trine, Day &
Co, LLP. The responsibility for the accuracy and fairness of this report rests with the City.
This report has been formatted to comply w/th the new £mancial reporting model developed by Governmental Accounting
Standards Board (GASB) Statement 34 and includes the following:
· Government-w/de financial statements designed to provide readers with a broad overview of the City in a manner
similar to a private sector business, in¢lud/r~g a statement of net assets and statement of activities. It is important to
note the following regard/rig these statements:
o The Statement of Net Assets and Statement of Activities represent a combination of all of the City's
funds, including the City's General 'Fund and other Special Revenue and Capital Projects funds which are
restricted in nature. Information on individual funds can still be found in the combining statements
contained in the CAFR.
o The amount reported as "unrestricted" in the 'net asset section on the statement of ~aet assets has been
designated for several General Fund projects previously authorized by Council, as discussed in additional
detail in the notes to the financial statements, in addition to funds previously designated for building and
equipment replacement (accounted for in the. City's Internal Service Funds).
o The amount reported as "invested in capital assets" in the net asset section on the statement of net assets
represents the portion of fixed assets to be depreciated over the remaining life of the assets and is not
available for funding of additional City projects.
o The amount reported as "infrastructure" only represents additions for Fiscal Years 2001-2002 and 2002-
2003 to the City's infrastructure base, which'includes road and park improvements. As one of the high
priority goals adopted by Council for Fiscal Year 2003-2004, Staff is plannkng to perform a complete
/nventory of the City's .infrastructure dating back to the City's incorporation in 1982, which once
complete will replace the amount reported for infrastructure in the fmancials.
To assist with an individual's review of the City's financial statements, a narrative section called the
Management's Discussion and Analysis 0VIDA) has been added. The MDA.reports on the fnaancial highlights of
the City and provides additional analysis on the variances and trends reported as part of the financial statements.
In addition, the MDA discloses significant items affecting the financial condition of the City.
Area Code (925) · City Manager 833-6650 · City Council 833-6650 - Personnel 833-6605 · Economic Development 833-6650
Finance 833-6640 · Public Works/Engineering 833-6630 · Parks & Community Services 833-6645 · Police 833-6670
Planning/Code Enforcement 833-6610 · Building Inspection 833-6620 · Fire Prevention Bureau 833-6606
Printed onCJ~cyc/ed Paper
ECONOMIC CONDITION AND OUTLOOK
The City of Dublin is located at the intersection of Interstates 580 and 680 approximately 35 miles east of San Francisco.
The City has a wide range of housing types available to meet the demands of various employers throughout the regmn.
The City has a large retail base which serves local residents as well as those in surrounding communities. The largest
employers include: public agencies such as .the County of Alameda and the Dublin Unified School Distr/ct; corporate
offices' such as Franklin Resources, Humphrey Instruments, Micro Dental Laboratories, Pacific Bell, Supergen and
Sybase; retailers such as Best Buy, Circuit City, Good Guys, Home Expo Design, Mervyns, Regal IMAX 21 screen
theater and Target; and auto dealers such as Crown Chevrolet, Dublin Auto Center, Dublin Honda, Dublin Toyota,
Shamrock Ford, Stoneridge Motors, and Tri Valley Pontiac/Buick/GMC.
Economic conditions throughout the San Francisco Bay Area continued to be weak during Fiscal Year 2002-2003, largely
attributed to two key factors. The first relates to the continued weaknesses in the Hi-Tech Industry. The second resulted
from the continued fallouts of the national events of September I 1, 2001. Retail Sales are an obvious indicator of the
general economic climate. The General Fund Sales Tax in 2002-2003 increased by 3% over the amount attributable-to
the prior year ($13.2 million 'in FY 2002/03 vs. $12.8 million in FY 2001/2002). A significant amount of the City's retail
sales are attributable to the sales of new and used automobiles which declined over the amount reported for the pr/or
year. This, however, was more than offset by increased sales that occurred in other retail sectors, including the City's
Hacienda Crossings Shopping Center.
The future economic outlook for the City is geared towards enhancing the City's existing economic base, 'while seeking
opportunities for expansion and adding diversity to the current retail base. There is the ability to accommodate
significant new development projects in the City's Eastern Dublin Specific Plan Area, as evidenced by several
development agreements entered into with the Alameda County Surplus Property Authority and the developers for Dublin
Ranch during the past few fiscal years.
The economic outlook for the City of Dublin for Fiscal Year 2003-04 continues to be. impacted by the downturn in the
State economy and the national events of September 11, 2001. As a result, the City has reduced its estimated revenues in
several of its major revenue categories for Fiscal Year 2003-04, the one exception being property taxes due primarily to
the continued residential growth occurring in the eastern part of the City. The City anticipates that there will be
sufficient reserves to cover any revenue shortfalls.
MAJOR INITIATIVES
The City of Dublin is an active and vibrant community, with a municipal government that is proactive and prepared to
respond to changes which are occurring. Each year the City Council adopts Goals and Objectives for the upcoming year
and evaluates the progress achieved on the goals previously established. The City's Goals and Objectives program is the
process by which the City Council formulates major initiatives for the City.
In Fiscal Year 2002-03, the City began or continued work on several capital projects, including the following:
Name of Project Expected Completion Date by Fiscal Year
Civic Center Library Completed in 2002-2003
Emerald Glen Fire Station and Fire Station 18 2003-2004
Tassajara Road Freeway Interchange 2002-2003
Improvements
Widening of Dublin Boulevard 2003-2004
Freeway Underpass Art Project 2003-2004
Downtown Improvements 2004-2005
Emerald Glen Park Phase II 2004-2005
The market for new housing of ail types continued to increase during Fiscal Year 2002-2003, with permits issued for 611
new residential units, an increase of 25% from the previous Fiscal Year. The valuation of these new residential units was
estimated to be $178 million, adding to the City's taxable assessed value for Fiscal Year 2003-2004. Non residential
activity decreased during Fiscal Year 2002-03.
viii
ACCOUNTING SYSTEM AND BUDGETARY CONTROL
Note 1 in the Basic Financial Statements prov/des a detailed explanation of the'significant accounting policies. In
developing and evaluating the City'g accounting system,-consideration is given to the adequacy of' controls. Internal
accounting controls are designed to provide reasonable assurance regarding: safeguarding of assets against loss, accuracy
and reliabihty of accounting data, and adherence to prescribed policies. The concept of reasonable assurance recognizes
that the' cost of a control should not exceed benefits likely to be derived and that the evalUation of costs and benefits
require estimates and judgments by management.
The City Manager develops and presents a budget for approval by. the City Council on an annual basis. The budget
includes appropriations for both operating programs and capital improvement projects. The budget is approved by budget
activity based upon the identified funding sources. The adopted accounting procedures authorize the City Manager to
transfer budget amounts between line items within the same Department. Expenditures may not exceed budgeted
appropriations at the departmental level without City Council approval, except as provided for in the City Council
resolution adopting the budget.
DEBT ADMINISTRATION
The City has no outstanding General Obligation debt. However, the City does administer funds for debt issued pursuant
to the 1915 Improvement Act for the Dublin Boulevard Extension Assessment District. The tota'l amount of assessment
debt outstanding at June 30, 2003 is $1,565,000. This amount is repayable from property assessments levied on
properties benefiting from the improvements, and the City has no legal, contingent or moral obligation for the repayment
of this debt. Revenues Collected were sufficient to finance all required debt service expenditures for the year ending June
30, 2003. There were no material delinquent assessment revenues at year end.
RISK MANAGEMENT
The City of Dublin is a member of ABAG PLAN Corporation. This is a public agency pool providing liability insurance
coverage to 31 Bay Area cities. The coverage limit for Fiscal Year 2002-03 was $10 milton per occurrence, which does
not cover damage resulting from an earthquake. The City of Dublin has selected a $50,000 deductible. The poOl also
provides property .insurance coverage with a $5~000 deductible except for'vehicle losses, Which carry a $10,000
deductible. The pool purchaseS the required employee bonds from a commercial sUrety company. In accordance w/th
· GASB 10, the City established a liability of $137,210 for claim deductibles. This includes a provision for losses which
may be "incurred but not reported" (IBNR). The actual cost for liability claims paid by the City for Fiscal Year 2002-03
was $25,895.
CASg[ MANAGEMENT
Cash temporarily ~idle during the year was invested in accordance with adopted investment policies. The amount of
interest earned on all Governmental and Proprietary Fired Types was approximately $2.9 million. The City's yield on all
of its investments as of June 30, 2003 was 2.19%.
At June 30, 2003, the City's portfolio of Federal Security investments had an average weighted.maturity of 3.4 years. In
addition, the City has sufficient investments in the State's Local Agency Investment Fund (LAIF) and money market
accounts which offer same day liquidity. The City has positioned its cash needs to allow it to hold all securities to
maturity. On a quarterly basis the City Council is provided with a report on investment activity. The investment strategy
emphasizes the safety of the portfolio and hquidity to match anticipated cash flow' needs. The port/on of the portfoho
containing U.S. Notes and Agency Obligations does not.include any repUrchase agreements.
INDEPENDENT AUDIT
Each year the City of Dublin obtains an independent annual audit of the City's financial records. The information
presented includes a review Of operations and changes in financial position. This report includes the Auditor's unqualified
opinion on the City's combined financial statements.
AWARDS
The Government Finance Officers' Association (GFOA) has recognized the City of Dublin for its Comprehensive Annual
Financial Report covering the period ending June 30, 2002. A copy of the award from this entity is included in this
report. This award represents the thirteenth consecutive year that the City's report was recognized 'by the GFOA. In
ix
order to be recognized, the City was required to produce an easily readable and efficiently organized report. The report
must also meet the standard for generally accepted accounting principles and legal requirements.
ACKNOWLEDGMENTS
Among the responsibilities assigned to the Administrative Services Department are the functions associated with Finance.
It is especially appropriate to recognize the efforts of Administrative Analyst Lisa Hisatomi, Finance Technicians Lynn
Harrington, Katie Mooney and Diane Stanley and Office Assistants Wanda Oppenheim and Rebecca Roberts m preparing
this report.
The City is fortunate to have these dedicated staff members who are willing to devote extensive time and energy in
preparing such a comprehensive report. The City has had its financial reports recognized by GFOA for many years,
which is a significant accomplishment, since this task is often undertaken only by larger organizations. Staff also
appreciates the professional effort expended by the independent auditors of Vavrinek, Trine, Day & Co., LLP in the
preparation of the fmancial statements.
The City Council is recognized for its continued support and encouragement. Staff intends for the report to be a source
of pride and accomplishment; representing excellence in financial reporting and exemplifying the high priority given to
the provision of quality services.
Sincerely,
Carole A. Perry Fred W. Marsh
Administrative Services Director Finance Manager
X
FINANCIAL SECTION
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INDEPENDENT AUDITORS' REPORT
The Honorable City Council of
· The City of Dublin, California
We have audited the accompanying financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of the City o{ Dublin, as of and for the year ended June 30, 2003, which
collectively comprise the City of Dublin's basic financial statements as listed in the table of contents. These
financial statements are the responsibility of the City of Dublin's management. Our responsibility is to express
opinions on these financial statements based on our audit.
We Conducted our audit in accordance with auditing standards generally accepted in the United' States of
America, the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis; evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for
our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of the governmental activities, each major fund, and the aggregate remaining fund information of the
City of Dublin, California, as of June'30, 2003, and the respective changes in £mancial positions and cash flows,
· where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in
the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated October 3, 2003, on
our consideration of the City's internal control over financial reporting and on our tests of its' compliance with
certain provisions of laws, regulations, contracts, and grants. That report is an integral part of an audit performed
in accordance with Government Auditing Standards and should be read in conjunction with this report in
considering the results of our audit.
The required supplementary information, such as management's discussion is not a required part of the. basic
financial statements, but is supplementary information reCluired by the Governmental Accounting Standards
Board. We have applied certain limited procedures, which consisted principally 'of inquiries of management
regarding the methods of measurement and presentation of the required supplementary information. However,
we did not audit the information and express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City's basic financial statemems. The other supplementary information listed in the table of
contents, including combining schedules and additional budgetary comparison schedules, are presented for
purposes of additional analysis and are not a required part of the basic financial statements. These schedules
have been 'subjected to the auditing procedures applied in the audit of the basic financial statements and m our
opinion, are fairly stated in all material respects in relation to the basic fmancial statements taken as a whole.
Pleasanton, California
October 3, 2003 .
2
CITY OF DUBLIN
Management's Discussion and Analysis (MDA)
June 30, 2003
As management of the City of Dublin (City), we offer readers of the City's financial statements this narrative
overview and analysis of the financial activities of the City for the fiscal year ended June 30, 2003. Please read
this overview in conjunction with the accompanying letter of transmittal and the accompanying basic financial
statements.
FINANCIAL HIGHLIGHTS
· During Fiscal Year 2002-03, the City's net assets, representing the difference between total assets and
total liabilities, increased by $13.7 million to $145.5 million from $131.9 million in Fiscal Year 2001-02.
The increase primarily resulted from higher than expected General Fund revenues and lower than
expected General Fund expenditures, and the receipt of impact fees due to new development occurring
within the City to be used to fund future improvements to the City's infrastructure, including its parks and
streets.
· Of the total net assets, $61.0 million represents its investments in capital assets, $.34.1 represents net
'assets restricted by outside agencies and state regulations for specific purposes and $50.4 million of
unrestricted net assets may be used to meet the government's ongoing obligations to its citizens and
creditors.
· As discussed in Note 7 to the financial statements, much of the $50.4 million of unrestricted net assets
includes the unreserved portion of General Fund balance which has either been designated for future
equipment replacement or that has been designated by Council for use on several future projects and to
cover economic uncertainties. This represents an increase of $4.8 million over Fiscal Year 200t-02.
· Total revenues from all sources were $60.4 million and total expenditures for all City programs were
$46.8 million. .~'-
· For Fiscal Year 2002-03, the City had no long term debt outstanding at June 30, 2003.
· As of June 30, 2003, the City's governmental funds reported combined ending fund balances of $77.5
million, a decrease of $5.1 million in comparison with the prior year. The decrease in combined ending
fund balances is primarily attributable to the expenditure of impact fees collected from developers used
for the construction of the City's new library and two new fire stations.
· The unreserved portion of fund balance in the City's General Fund balance increased to $43.4 million As
discussed in the notes to the financial statements, the entire amount has been designated by Council for
use on several future projects and to cover economic uncertainties.
· During Fiscal Year 2002-03, the General Fund revenues exceeded its expenditures by $4.6 million.
· Actual Revenues in the General Fund were over its final budget by $1.2 million primarily due to larger
than expected collections from property and sales taxes and development related permits and fees.
· Actual expenditures were under its final budget by $4.7 million largely due to capital projects being carried
over to Fiscal Year 2003-04 and lower than expected use of contract personnel in the planning and
building divisions.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City's basic financial statements, which
are comprised of three components:
· Government-wide financial statements - These include the Statement of Net Assets and Statement of
Activities. These statements provide information about the activities of the City as a whole and about the
overall financial condition of the City in a manner similar to a private-sector business. These statements
are described in more detail in a subsequent section in this MDA and can be found on pages 14-15 of this
re port.
3
CITY OF DUBLIN
Management's Discussion and Analysis (MDA)
June 30, 2003
· Fund financial statements - These statements provide additional information about the City's major
funds, including how services were financed in the shod term and fund balances available for financing
future projects. These statements are described in more detail in a subsequent section of this MDA and
can be found on pages 16-26 of this report.
· Notes to the Financial Statements - The notes provide additional detail that is essential to a full
understanding of the information provided in the government-wide and fund financial statements. The
notes can be found on pages 27-48 of this report.
A. Government-Wide Financial Statements
These statements include all assets and liabilities of the City using the accrual basis of accounting~ which is
similar to the accounting used by most private sector companies. All current year's revenues and expenses are
accounted for regardless of when the cash is paid or received.
These statements report the City's net assets and changes in them. Net assets, the difference between assets
and liabilities, are one way to measure the City's financial position. Over time, increases or decreases in net
assets are indicators of whether the financial condition of the City is improving or deteriorating. However, it is also
important to consider other non-financial factors, such as changes in the City's property tax and sales tax bases
or in the condition of the City's infrastructure (i.e. parks and streets), to accurately assess the overall health of the
City.
These statements present information about the City's activities, all of wl~ich are considered governmental in
nature. These include services provided for police, fire, community development, streets and culture and leisure.
These services are funded from monies received from property, sales, and other taxes, direct charges for
services provided, grants, contributions from other agencies and impact fees collected from new development.
B. Fund Financial Statements **
These statements provide more detailed information about the City's major funds. A fund is a grouping of related
accounts that is used to maintain control over resourCes that have been segregated for specific activities or
objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate
compliance with finance-related legal requirements. All of the funds of the City can be divided into three
categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental funds Governmental funds are used to account for essentially the same functions reported as
governmental activities in the government-wide financial statements. However, unlike the government-wide
financial statements, governmental fund financial statements focus on near-term inflows and outflows of
spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such
information may be useful in evaluating a government's near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is
useful to compare the information presented for governmental funds with similar information presented for
governmental activities in the government-wide financial statements. By doing so; readers may better understand
the long-term impact of the government's near-term financing decisions. Both the governmental fund balance
sheet and governmental fund statement of revenues, expenditures, and changes in fund balances provide a
'reconciliation to facilitate this comparison between governmental funds and governmental activities.
The City maintains thirty four individual governmental funds. Information is presented separately in the
governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and
changes in fund balances for the General fund and for all of the City's Capital Project Funds, as they either qualify
or the City requested them to be classified as major funds due to their significance in the financing of new capital
assets. Data from the other twenty nine governmental funds are combined into a single, aggregated presentation.
4
CITY OF DUBLIN
Management's Discussion and Analysis (MDA) '
June 30, 2003
Individual fund data for each of these non-major governmental funds is provided in the form of combining
statements elsewhere in this report.
The City adopts an annual appropriated budget fOr each of its governmental funds. A budgetary comparison
statement has been provided for each governmental fund to demonstrate compliance with this budget.
Proprietary funds The City maintains one type of proprietary fund.. Internal service funds are an accounting
device used to accumulate and allocate costs internally among the City's various functions and to build up
reserves for future replacement of capital assets. The City uses internal service funds to account for its fleet of
vehicles, computer systems, other furniture and equipment, retiree health employee costs and contributions, and
improvements to City buildings. Because these services solely benefit the governmental function, they have been
included within governmental activities in the government-wide financial statements.
Proprietary fund financial statements provide the same type of information as the government-wide financial
statements, only in more detail. All four internal service funds are combined into a single, aggregated
presentation in the proprietary fund financial statements. Individual fund data for the internal service funds is
provided in the form of combining statements elsewhere in this report.
Fiduciary Funds The City acts as a trustee, or fiduciary, in collecting assessments and remitting bond payments
for one Assessment District~. The City has no legal, contingent or moral obligation for the repayment of this debt
and merely ensures that the assets received are used for their intended purposes. Therefore, these fiduciary
activities are excluded from the City's fund financial statements because these assets cannot be used to finance
operations. The activity for this fund, however, is provided for in a separate combining statement contained
elsewhere in this report.
C. Notes to the Financial Statements "
The notes provide additional detail that is essential to a' full understanding of the information provided in the
government-wide and fund financial statements. The notes can be found on pages 27-48 of this report.
D. Other Information
In addition to the basic financial statements and accompanying notes, this report also presents Certain required
suppiementary information concerning the City's progress in funding its obligation to provide pension benefits to
its employees. Required information can be found on page 49 of this report.
The combining statements referred to earlier in connection with non-major governmental funds and internal
service funds are presented immediately following the required supplementary information on pensions.
Combining and individual fund statements and schedules can be found on pages 50-111 of this report.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
The City's combined net assets for the Fiscal Year ended June 30, 2003 was $145.5 million. A significant portion
of the City's net assets ($61.0 million or 42%) reflects its investment in'capital assets (e.g. land, infrastructure,
buildings, equipment). The City uses these capital assets to provide services to citizens; consequently, these
assets are not available for future spending.
An additional portion of the City's net assets ($34.1 million or 23%) represents resources that are subject to
external restrictions on how they may be used. The remaining balance of unrestricted net assets ($50.4 million or
35%) may be used to meet the government's ongoing obligations to citizens and creditors. It should be noted,
however, that the entire balance has previously been designated by the City Council for future projects, including
replacement of buildings and equipment, as described in additional detail in the notes to the financials.
Table 1 on the following page summarizes the City's net assets.
5
CITY OF DUBLIN
Management's Discussion and Analysis (MDA)
June 30, 2003
TABLE 1
Governmental Activities
Item June 30, 2003 June 30, 2002
Current and other assets $96,272,004 $99,191,259
Capital assets 61,01 65642 42,960,899
Total assets $157,288,646 $142,152,158
Other liabilities $11,74'8,605 $10,272,898
Total Liabilities $11,748,605 $10,272,898
Invested in. capital assets 61,01 6,642 42,960,899
Restricted 34,124,065 43,339,073
Unrestricted
(See Note 7 to Financials
for Council Designations) 50,399,334 45,579,288
Total net assets $145,540,041 $131,879,260
Governmental activities. The charts below summarize major expenditure program Categories, program
revenues used to fund specific expenditure programs, and general City revenues available for funding all City
programs.
TABLE 2
............................................................................... Expenses Program Revenues Net Cost of Activity
2002-2003 2001-2002 2002-2003 2001-2002 2002-2003 2001-2002
Governmental Activities
General'Government $ 6,135,344 $ 4,658,653 $ 553,145 $ 699,985 $ 5,582,199 $ 3,958,668
Police 8,240,890 7,001,107 576,887 612,983 7,664,003 6,388,124
Fire 5,152,830 4,866,217 1,049,529 2,050,075 4,103,301 2,816,142
Other Public Safety 632,496 582,249 35,399 41,480 597,097 540,769
Community Development 5,334,646 4,557,634 5,182,361 4,803,099 152,285 (245,465)
Highways and Streets 15,187,872 5,277,778 13,751,24.7. 16,534,036 1,436,625 (11,256,258)
!Health and Welfare 1,349,228 1,193,542 4,439,547 2,703,507 (3,090,319 (1,509,965)
Culture ~nd LeiSure 4,730,430 3,901,126 4,186,700 .4,983,318 543,730 (1,082,192)
Activities $ 46,763,736 $ 32,038,306 $ 29,774,815 $ 32,428,483 $ 16,988,921 $ (390,177)
6
CITY OF DUBLIN
Management's Discussion and Analysis (MDA)
June 30, 2003
' Net Cost of Activity
2002-2003 2001-2002 _ ~.
General Revenues:
Property taxes . $ lb.,~83,414 $ 9,44~,544
sales tax 13,193407 1.2.1813,11~1.
Motor vehicle in lieu tax 21072,440 I 940 341
717,083 8.1.0,220
Transient occupancy tax
Other taxes 1,774,042 1 ~820,648 ~
Un restricted interest earnings 1,710,903 2,127,156
' 511.,652
Other 398,413
Total General Rev, enues $ 30,649,702 $ ,29,470,672~
increase,in Net Assets $, 13,660,78~ $ 29,860,849-~
Net Assets - Beginnin~l of Year $ 131,879,260 $ 74,909,817.
Prior Period Adjustment 27,108,594
Net A$~_~ - End of Year $ 145,540~041 $ 131,879~260
Revenues by Source (In Millions)
Total Revenues $60.4 Million
Other Taxes
7.6% $4.6 ~/Charges for Services
14.1% $8.5
Sales Tax
21.8% $13.~
Other Revenues
3.5% $2.1
-~_ Cont/Grants
Property Taxes 35.t % $21.2
17.9% $10.8
7
CITY OF DUBLIN
Management's Discussion and Analysis (MDA)
June 30, 2003
Expenses by Program (In Millions)
Total Expenses - $46.8 Million
Culture and Leisure
10.1% $4.7 ~
Health and Welfare General
2.9% $1.3-~ }overnment
22.2% $10.4
Highways and streets
23.5% $11.0
Police t7.5% $8.2
Fire/Other
Community 12.4% $5.8
Development
tl.4% $5.4
Governmental activities increased the City's net assets by $13.7 million, thereby accounting for all of the total
growth in the net assets of the City. Key elements of this increase are as follows:
· The City collected over $10.2 million in development impact fees in its Governmental funds, which will be
used to fund future stTeets and parks improvements and the completion of construction of two new fire
stations.
During Fiscal Year 2002~2003, the City transferred $12.6 million worth of capital assets (including
amounts incurred for its library and two new fire stations) to its Equipment and Building Replacement
Internal Service Funds. These had all previously been fully expensed in its General and Capital Project
funds. This transfer was recognized as a contribution revenue in the Equipment and Building
Replacement Internal Service Funds.
· The City continued to see significant increases in General Fund property taxes collected resulting from
the significant amount of commercial and retail growth that occurred during the last three fiscal years and
large increases in housing prices.
Although total General Fund sales taxes only increased slightly from the prior year, the City still
experienced strong retail sales from its automotive dealers and at its retail shopping centers.
8
CITY OF DUBLIN
Management's Discussion and Analysis (MDA)
June 30, 2003
FINANCIAL ANALYSIS OF THE GOVERNMENT'S FUNDS
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal
requirements. As of June 30, 2003, the City's governmental funds reported combined ending fund balances of
$77.5 million, a decrease of $5.1 million in comparison with the prior year.
Of the decrease, $12.2 occurred in the City's impact fee funds used in funding construction of the City's new
library and two new fire stations. These decreases were partially offset by a $4.6 million increase in the City's
General Fund unreserved fund balance and a $2.6 increase in the Housing and Noise Mitigation Special Revenue
fund reserved for use on future affordable housing projects. As discussed in Note 7 to the financial statements,
the entire amount of the General Fund has been designated by Council for use on several future projects and to
cover economic uncertainties.
GENERAL FUND
The General Fund is the chief operating fund of the City. At the end of Fiscal Year 2002-03, unreserved fund
balance of the General Fund was $43.4 million and total fund balance of the General Fund was $43.9 million. As
discussed in Note 7 to the financial statements, the entire amount of unreserved fund balance has .been
designated by Council for use on several future projects and to cover economic uncertainties.
During Fiscal Year 2002-03, the General Fund revenues exceeded its expenditures by $4.6 million. This includes
$571,173 in carryovers for various capita projects. In the City Manager's transmittal letter in the City's Operating
Budget for Fiscal Year 2003-04, a $3.7 million surplu.s was anticipated for Fiscal Year 2002-03. The primary
reasons for the variance was due to higher than expected sales tax collections and higher than expected charges
for services related to new development projects occurring within the City, and lower than anticipated operating
and CIP expenditures.
Significant changes in Revenues and Expenditures that affected this increase in General Fund balance are as
follows:
a, Revenue Highlights
Property Taxes ~ncreased over the prior year due to new residential and commercial units (mostly in Eastern
Dublin) constructed in Fiscal Year 2001-02 and included for the first time on the 2002-03 tax roll. In addition,
there continued to be a general overall increase in property values in the City due primarily to a strong housing
market. The City's taxable assessed value increased from $3.7 billion in Fiscal Year 2001-02 to $4.3 billion in
Fiscal Year 2002-03, a 16% increase over the prior Fiscal Year. The taxable assessed value on the property in
Eastern Dublin will continue to increase as new residential and commercial units are constructed by developers.
Taxes Other Than Property increased from the prior year primarily due to a slight increase in sales tax
collections experienced at the City's major retail outlets including Hacienda Crossings. This increase was
somewhat offset by a decline in transient occupancy taxes received due to the national events of September 11,
2001 as well as the continued weak economy.
Revenue from Use of Money and Property decreased from the prior year primarily due to a significantly lower
rate of return on the City's investments in comparison to the previous year due to significant interest rate
reductions in the bond market for U.S. securities as well as for those ~nvestments held in LAIF.
Intergovernmental Revenues - State are higher than in the prior year due to an increase in the amount of Motor
Vehicle in Lieu Taxes received from the state primarily cue to an increase ~n the allocation to the City from the
State as a result of the increase in the City's population over the prior year.
Charges for Services are higher than in the prior year due to additional monies received for planning and
engineering plan check fees for work performed by staff and consultants on new development occurring within the
City.
9
CITY OF DUBLIN
Management's Discussion and Analysis (MDA)
June 30, 2003
Other Revenues showed a decrease over the previous year due to reimbursements received from governmental
entities in the prior year for expenditures incurred on the widening of Dublin Boulevard and the design of
improvements to a freeway interchange.
b. Expense Highlights
General Government expenditures increased over the prior year due to increased personnel costs in all divisions
(including full year funding of positions added mid way in Fiscal Year 2001-02), increased building maintenance
costs and increased legal costs related to development. The development related'legal costs are reimbursed by
the project applicant and offset by revenue.
Public Safety costs increased over the prior year due to increased Police expenditures resulting from higher fees
for dispatch services and a cost of living adjustment from Alameda County for contract Police personnel. Fire
expenditures also.increased due to a cost of living adjustment from the Alameda County Fire Department for
existing contract fire personnel.
Highways and Streets expenditures increased over the prior year due to increased personnel costs in Public
Works Administration division and higher costs incurred for street landscape maintenance.
Culture and Leisure Services expenditures increased over the prior year due to higher expenditures 'for park
maintenance and contract library services and additional expenditures incurred for Parks and Community
Services programs and other special events, including the annual St. Patrick's Day and Day on the Glen
celebrations and concerts at the Civic Center.
Community Development exp~.nditur..es increased over the prior year due to additional time spent by consultants
on various development projects and contract building inspection services for new residential units, primarily in
the Eastern Dublin SPecific Plan area. The time spent on deVelopment projects are reimbursed by the project
applicant and offset by revenue.
Capital Outlay decreased from Fiscal Year 2001-02, primarily due to a significant portion of the General Fund
expenses incurred on construction of the City's new library being incurred in the prior Fiscal Year. Due to the
one-time nature of capital projects, flUctuatiOnS from year to year are common.
c. Budgetary Highlights
Over the course of the year, the City Council revised the City budget with adjustments that fall into one of the
following three categories:
Changes made to adjust appropriations for capital project carryovers from the prior year
Changes made inthe mid year report to adjust revenues and augment current year appropriations
Other revenue and expenditure adjustments approved after the original budget was adopted.
Budget adjustments approved by Council during Fiscal Year 2002-2003 included the following:
· Dublin Sports Ground Renovations
· Traffic Signal Improvements Village Parkway.Amador Valley Boulevard
· Capital project carryover of unspent budgeted funds from Fiscal Year 2001-02
· Purchase of Van for Senior Center
· Additional appropriations for consultant and legal work related to new development
10
CITY OF DUBLIN
Management's Discussion and Analysis (MDA)
June 30, 2003
After taking into account these adjustments, actual expenditures were $4.7 million lower than final budget
amounts. Of the total, $3.5 million related to either capital projects whose final costs were lower than were
originally anticipated or were carried over to Fiscal Year 2003-04. Most of the other .budget to actual variances
were due to either delays in development occurring within the City (some of which will be carried over to Fiscal
Year 2003-04) or department labor savings created by vacant positions.
CAPITAL PROJECT FUNDS
The City's Capital Project Funds account for fees received from'developers due to the impacts placed on the City
resulting from their new developments. The funds received from developers are used to pay for required
infrastructure, including additional streets, parks, public and fire station facilities. At the end of Fiscal Year 2002-
03, total fund balance of these funds was $20.8 million. As discussed in the notes to the financial statements, the
entire amount has been designated by Council for use on various capital projects in the City's five year capital
improvement program.
During Fiscal Year 2002-03, the Capital Project funds expenditures exceeded their revenues by $12.2 million.
The capital project fund revenues collected during the year and existing fund balances were used to pay for the
following major capital projects during Fiscal Year 2002-03
· Design of two freeway interchanges and construction of the Tassajara Road Interchange
· Construction of the Civic Center Library
· Design and construction for the Widening of Dublin Boulevard
· Design and construction of two new fire stations
PROPRIETARY FUNDS
The City's proprietary funds (i.e. internal service funds) provide the same type of information found in the
government-wide financial statements, but in more detail. Unrestricted net assets in the City's proprietary funds
at June 30, 2003 totaled $7.0 million, all of which the Council has designated for future replacement of equipment,
vehicles and building improvements. The total growth in net assets for Fiscal Year 2002-03 was $11.8 million, as
discussed previously in the analysis section related to governmental activities.
Capital Asset and Debt Administration
Capital assets. The City's investment in capital assets for its governmental activities as of June 30, 2003,
amounts to $61.0 million (net of accumulated depreciation). This investment in capital assets includes land and
streets right of way, buildings, park and roadway improvements, vehicles and other equipment and construction in
progress, as summarized in the schedule bellow. During the current fiscal year, the City's investment in capital
assets increased by approximately $18.1 million (42.0%).
TABLE 3
Governmental
Activities
Item June 30, 2003
Land 9,775,002
Streets right of way 3,170,886
Construction in Progress 9,326,319
Infrastructure 1,723,074
Buildings and Improvements 34,340,710
Machinery and Equipment 2,680,651
Total $61,016,642
11
CITY OF DUBLIN
Management~s Discussion and Analysis (MDA)
June 30, 2003
Major capital asset events during the current fiscal year included the following projects
TABLE 4
Fiscal Year
2002-2003
Capital Project Status of Project Expenditures
Civic Center Library Complete , $ 7,785,177
Dublin SPorts Ground Complete $ 903,721
Renovation
Eastern Dublin Right of'Way Complete $ 2,558,112
Acquis.!tion
Civic Center HVAC RenovatiOn Complete ' $ 784,414
Fire Station 18 APParatus Complete $ 638,361
Alamo Canal Bike Path to Complete $ 208,296
Interstate 580
Emerald Park Fire Station In Progress $ 2,604,017
Fallon Fire Station In Progress $ 200. 430
Emerald Glen Park Phase II In Progress $ 650,101
New Senior Center In Progress $ 349,538
1580 / Tassajara Road In Progress $ 7,099,787
Interchange
Dublin Boulevard Widening -
Village Parkway to Sierra In Progress $ 2,374,660
Additional information on the City's capital assets can be found in Note 4 of this report.
Long-term debt
At the end of Fiscal Year 2002-03, the City had no debt outstanding. State statutes limit the amount of general
obligation debt a governmental entity may issue to 15 percent of its total assessed valuation. The current debt
limitation for the City is $656.9 million. Additional information on long-term debt is located in note 5 of this report.
Economic Factors and Next Year's Budgets
Given the state of the local economy and the amount of deficits being forecast as part of the State's budget,
caution was exercised in developing the City's budget for Fiscal Year 2003-04. The City's adopted budget for
Fiscal Year 2003-04 for all funds was $75.3 million, which includes an appropriation of $39.1 million for
operations, $31.0 million for Capital Projects and a $5.2 million to reserves. The amount budgeted for operations
represents an increase of approximately 16% over Fiscal Year 2002-03 and is primarily due to projected
increases in personnel costs, contract public safety services, the addition of a new group of fire fighters in
preparation for the opening of a new fire station and continued consultant costs relating to new development
occurring within the City.
Major Capital Projects funded for Fiscal Year 2003-04 include work on the following capital projects:
· Downtown Improvements
· Completion of Freeway Underpass Art projects
· Bray Commons Neighborhood Park
· Improvements to three freeway interchanges
· Emerald Glen Community Park, Phase II
· Completion of Widening of Dublin Boulevard
12
CITY OF DUBLIN
Management's Discussion and Analysis (MDA)
June 30, 2003
· Design and construction of a new senior center
· Completion of two new fire stations
Primary funding sources for these projects include one time grants, impact fees received from new development
and one time General Fund reserves set aside for these projects.
Requests for Information
This financial report is designed to provide a general overview of the financial position of the City for all those with
an interest in the government's finances. Questions concerning any of the information provided in this report or
requests for additional financial information should be addressed to the following address: City of Dublin, Finance
Department, 100 Civic Plaza, Dublin, CA 94568.
13
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GOVERNMENT-WIDE FINANCIAL STATEMENTS
CITY OF DUBLIN
STATEMENT OF NET ASSETS
JUNE 30, 2003
Governmemal
Activities
ASSETS
Current Assets:
Cash and investments $ 90,593,972
Accounts receivable 5,293,410
Accrued interest receivable 374,891
Prepaids 9,731
Total Current Assets 96,272,004
Noncurrent Assets:
Capital assets (net of accumulated depreciation):
Land 9,775,002
Streets right of way 3,170,886
Construction in progress 9,326,319
Infrastructure 1,723,074
Buildings and improvements 34,340,710
Machinery and equipment 2,680,651
Total Noncurrent Assets 61,016,642
Total Assets 157,288,646
LIABILITIES
Current Liabilities:
Accounts payable 9,059,646
Accrued wages 788,342
Deposits payable 1,491,660
Liability insurance claims payable 137,210
Deferred revenues 127,768
Due to other governments 143,979
Total Liabilities 11,748,605
NET ASSETS (Note #6)
Invested in capital assets 61,016,642
Restricted for:
Public safety 341,398
Impact fee projects 21,298,192
Highways and streets 2,049,060
Health and welfare 10,421,482
Unrestricted 50,413,267
Total Net Assets $ 145,540,041
See accompanying notes to financial statements.
14
CITY OF DUBLIN
STATEMENT OF ACTMTIES
FOR THE YEAR ENDED JUNE 30, 2003
Net (Expense)/
Revenue and
Program Revenues Changes in
Operating Capital ' Total Net Assets
Charges for Contributions Contributions Program Governmental
Expenses Services and Grants and Grants Revenues Activities
Governmental Activities:
General government $ 6,135,344 $ 202,330 $ 124,604 $ 226,211 $ 553,145 $ (5,582,199)
Public safety
Police 8,240,890 372,254 183,158 21,475 576,887 (7,664,003)
Fire 5,152,830 695,151 354,378 1,049,529 (4,103,301)
Other 632,496 5,740 7,259 22,400 35,399 (597,097)
Community development
Planning/Building safety 3,196,733 3,759,651 3,759,651 562,918
Engineering 1,859,850 1,422,710 1,422,710 (437,140)
Economic development 278,063 (278,063)
Highways and streets 15,187,872 25,609 983,524 12,742,114 13,751,247 (1,436,625)
Health and welfare 1,349,228 1,033,317 525,843 2,880,387 4,439,547 3,090,319
Culture and leisure 4,730,430 1,009,572 3,177,I28 4,186,700 (543,730)
Total Governmental
Activities $46,763,7J~ $ 8,526,334 $1,824,388 $19,424,093 $29,774,815 $ (16,988,921)
General Revenues:
Taxes:
Property taxes $ 10,281,990
Special assessment property taxes 501,424
Transient occupancy taxes 717,083
Franchise taxes 1,394,953
Sales tax 13,193,407
Motor vehicle in lieu tax 2,072,440
Real property transfer tax 379,089
Unrestricted investment earnings 1,710,903
Other 398,413
Total General Revenues 30,649,702
Change in Net Assets 13,660,781
Net Assets, Beginning of Year 131,879,260
Net Assets, End of Year $145,540,041
See accompanying notes to financial statements.
15
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FUND FINANCIAL STATEMENTS
CITY OF DUBLIN
GOVERNMENTAL FUNDS
BALANCE SHEET
JUNE 30, 2003
ASSETS General
Cash and investments $ 48,098,990
Accounts receivable 1,702,190
Accrued interest receivable 374,891
Due from Other funds 1,202,701
Prep aids 9,731
Advances to other ftmds 460,080
Total Assets $ 51,848,583
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts payable 5,223,350
Accrued wages 788,342
Deposits payable 1,491,660
Liability insurance claims payable 137,210
Deferred revenues 127,768
Due to other funds
Due to other governments 143,979
Advances from other funds
Total Liabilities 7,912,309
FUND BALANCES (Note #7)
Reserved for:
Prepaid expenditures 9,731
Cemetery endowment 60,000
Long-term advances 460,080
Recycling programs
Public safety programs
Street maintenance and construction
Health and welfare programs
Community development programs
Capital improvement projects
Unreserved, reported in:
General fund, designated for:
Economic uncertainty 1,651,965
Capital improvements 8,089,385
Authorized expenditures 33,665,113
Capital projects funds
Total Fund Balances 43,936,274
Total Liabilities and Fund Balances $ 51,848,583
See accompanying notes to financial statements.
16
Capital Projects Funds
Traffic Public Park Fire Other
Impact Facilities Dedication Impact Governmental
Fees Fees Fees Fees Funds Totals
$ 17,682,376 $ 3,218,014 $ 1,104,730 $ 13,452,294 $ 83,556,404
791,671 2,793,319 5,287,180
374,891
1,202,701
9,731
460,080
$ 18,474,047 $ 3,218,014 $ 1,104,730 $ - $ 16,245,613 $ 90,890,987
697,666 131,548 54,127 615,258 2,290,972 9,012,921
788,342
1,491,660
137,210
127,768
1,202,701 1,202,701
143,979
~460,080 460,080
697,666 131,548 54,127 1,075,338 3,493,673 13,364,661
9,731
60,000
460,080
490,186 490,186
594,305 594,305
1,771,176 1,771,176
9,871,296 9,871,296
24,977 24,977
17,776,381 3,086,466 1,050,603 21,913,450
1,651,965
8,089,385
33,665,113
(1,075,338) (1,075,338)
17,776,381 3,086,466 1,050,603 (1,075,338) 12,751,940 77,526,326
$ 18,474,047 $ . 3,218,014 $ 1,104,730 $ $ 16,245,613 $ 90,.8.90,987
17
CITY OF DUBLIN
GOVERNMENTAL FUNDS
RECONCILIATION OF THE FUND BALANCE OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET ASSETS
JUNE 30, 2003
Fund Balances of Governmental Funds $ 77,526,326
Amounts reported for governmental activities in the statement of net assets are
different because:
Capital assets net Of depreciation are not included as a financial resource
in the governmental funds. 13,751,009
Internal service funds are used by management to charge the costs of certain
activities, such as asset replacement and retiree health care, to individual funds.
The assets and liabilities of the internal service funds are included in the govern-
ment-wide Statement of Net Assets. 54,262,706
Net Assets of Governmental Activities $ 145,540,041
See accompanying notes to financial statements.
18
CITY OF DUBLIN
GOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2003
General
REVENUES
Property taxes $ 10,039,542
Taxes other than property 15,684,532
Licenses and permits 2,421,885
Intergovernmental 2,234,179
Charges for services 4,760,255
Interest 1,487,493
Use of property 139,019
Fines and forfeitures 139,615
Developer fees
Other revenue 410,714
Special assessments
Total Revenues 37,317,234
EXPENDITURES
Current:
General government 4,339,318
Public safety 13,184,135
Highways and streets 1,336,688
Health and welfare 40,300
Culture and leisure 4,611,564
Community development 5,379,083
Capital outlay
General 2,258,752
Community improvement 442,109
Parks 669,565
Streets 464,047
Total Expenditures 32,725,561
Excess (Deficiency) of Revenues
Over (Under) Expenditures .4,591,673
OTHER FINANCING SOURCES (USES)
Transfers in 18,560
Transfers out (20)
Total Other Financing Sources (Uses) 18,540
Net Change in Fund Balances 4,610,213
Fund Balances, Beginning of Year 39,326,061
Fund Balances, End of Year (Note #7) $ 43,936,274
See accompanying notes to financial statements.
19
Capital Projects Funds
Park Fire Other
Traffic Public Dedication Impact Governmental
Impact Fees Facilities Fees Fees Fees Funds Totals
$ 103,108 $ 10,142,650
380,200 16,064,732
2,421,885
9,178,398 11,412,577
920,647 5,680,902
$ 583,864 $ 220,324 $ 32,953 384,825 2,7'09,459
139,019
134,669 274,284
4,637,710 2,561,448 44,520 $ 354,378 2,597,509 10,195,565
262,181 672,895
501,424 501,424
5,221,574 2,781,772 77,473 354,378 14,462,961 60,215,392
23,923 4,363,241
763,975 13,948,110
514,256 1,850,944
1,311,783 1,352,083
4,611,564
20,565 5,399,648
6,862,372 3,443,746 9,856 12,574,726
36,200 478,309
893,833 380,875 426,096 2,370,369
9,091,561 8,789,598 18,345,206
9,091,561 7,756,205 380,875 3,443,746 11,896,252 65,294,200
(3,869,987) ~ (303,402) (3,089,368) 2,566,709 (5,078,808)
20 18,580
(18,560) (18,580)
(18,540)
(3,869,987) (4,974,433) (303,402) (3,089,368) 2,548,169 (5,078,808)
21,646,368 8,060,899 1,354,005 2,014,030 10,203,771 82,605,134
$17,776,381 $ 3,086,466 $ 1,050,603 $(1,075,338) $ 12,751,940 $ 77,526,326
20
CITY OF DUBLIN
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2003
Net Change in Fund Balances - Total Governmental Funds $ (5,078,808)
Amounts reported for governmental activities in the Statement of Activities differs
from the amounts reported in the Statement: of Revenues, Expenditures, and Changes
in Fund Balances because:
Governmental funds report capital outlays as expenditures. However, in the Statement
of Activities, the costs of those assets is allocated over their estimated useful lives
as depreciation expense or are allocated m the appropriate functional expense when
the cost is below the capitalization threshhold. This activity is reconciled as follows:
Cost of assets capitalized 7,175,956
Depreciation expense (201,887)
Internal service funds are used by management to charge the costs of certain
activities, such as asset replacement and retiree health care, to individual funds.
The net revenues (expenses) of the internal service funds are reported with
governmental activities. I 1,765,520
Change in Net Assets of Governmental Activities $ 13,660,781
See accompanying notes to fmancial statements.
21
CITY OF DUBLIN
STATEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Property taxes $ 9,892,843 $ 9,892,843 $ 10,039,542 $ 146,699
Taxes other than property 15,468,900 15,468,900 15,684,532 215,632
Licenses and permits 1,622,404 1,622,404 2,421,885 799,481
Intergovernmental 2,073,765 2,096,165 2,234,179 138,014
Charges for services 4,752,535 4,815,035 4,760,255 (54,780)
Interest 1,244,226 1,244,226 1,487,493 243,267
Use of property 129,312 129,312 139,019 9,707
Fines and forfeitures 114,000 114,000 139,615 25,615
Other revenue 742,768 755,839 410,714 ~
Total Revenues 36,040,753 36,138,724 37,317,234 1,178,510
EXPENDITURES
Current:
General government 4,393,521 4,551,612 4,339,318 212,294
Public safety 13,298,811 13,376,916 13,184,135 192,781
Highways and streets 1,337,221 1,359,398 1,336,688 22,710
Health and welfare 69,001 69,001 40,300 28,701
Culture and leisure 4,740,119 4,812,790 4,611,564 201,226
Community development 5,713,241 5,893,670 5,379,083 514,587
Capital outlay
General 6,939,521 2,912,748 2,258,752 653,996
Community improvement 1,774,943 1,825,317 442,109 1,383,208
Parks 1,425,035 1,598,896 669,565 929,331
Streets 980,597 986,147 464,047 522,100
Total Expenditures 40,672,010 37,386,495 32,725,561 4,660,934
Excess of Revenues
Over Expenditures (4,631,257) (1,247,771) 4,591,673 5,839,444
OTHER FINANCING SOURCES (USES)
Transfers in 18,560 18,560
Transfers out (20) (20)
Total Other Financing Sources 18,540 18,540
Net Change in Fund Balance (4,631,257) (1,247,771) 4,610,213 5,857,984
Fund Balance, Beginning of Year 39,326,061 39,326,061 39,326,061
Fund Balance, End of Year (Note//7) $ 34,694,804 $ 38,078,290 $ 43,936,274 $ 5,857,984
See accompanying notes to financial statements.
22
CITY OF DUBLIN
PROPRIETARY FUNDS
STATEMENT OF NET ASSETS
JUNE 30, 2003
Governmental
Activities -
Internal Service
Funds
ASSETS
Current Assets
Cash and investments $ 7,037,568
Receivable:
Accounts 6,230
Total Current Assets 7,043,798
Noncurrent Assets
Land 6,842,037
Construction in progress 3,730,784
Buildings and improvements 41,020,725
Machinery and equipment 4,916,752
Less: accumulated depreciation (9,244,665)
Total Noncurrent Assets 47,265,633
Total Assets 54,309,431
LIABILITIES
Current Liabilities
Accounts payable 46,'725
Total Liabilities 46,725
NET ASSETS
Invested in capital assets 47,265,633
Unrestricted 6,997,073
Total Net Assets $ 54,262,706
See accompanying notes to financial statements.
23
CITY OF DUBLIN
PROPRIETARY FUNDS
STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET ASSETS
FOR THE YEAR ENDED JUNE 30, 2003
Governmental
Activities -
Internal Service
Funds
OPERATING REVENUES
Charges for services $ 1,326,710
Other revenue · 24,361
Total Operating Revenues 1,351,071
OPERATING EXPENSES
Supplies and services 382,945
Depreciation 2,019,793
Total Operating Expenses 2,402,738
Operating Loss (1,051,667)
NONOPERATING REVENUES
Interest income 209,125
Income (Loss) Before Transfers
Income Before Contributions (842,542)
CONTRIBUTIONS 12,608,062
Change in Net Assets 11,765,520
Total Net Assets, Beginning of Year 42,497,186
Total Net Assets, End of Year $ 54,262,706
See accompanying notes to financial statements.
24
CITY OF DUBLIN
PROPRIETARY FUNDS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2003
Governmental
Activities -
Internal Service
Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers $ 1,346,032
Payments to suppliers (384,467)
NET CASH PROVIDED BY
OPERATING ACTIVITIES 961,565
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Capital asset purchases (485,184)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 209,125
NET INCREASE IN CASH AND
CASH EQUIVALENTS 685,506
CASH AND INVESTMENTS, Beginning of Year 6,352,062
CASH AND INVESTMENTS, End of Year $ 7,037,568
RECONCILIATION OF OPERATING INCOME (LOSS) TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Operating loss $ (1,051,667)
Adjustments to reconcile operating income
to cash flows from operating activitie.s:
Depreciation 2,019,793
Net effect of changes in:
Accounts receivable (5,039)
Accounts payable (1,522)
NET CASH PROVIDED BY
OPERATING ACTIVITIES $ 961,565
NONCASH CAPITAL FINANCING ACTIVITIES
Contributed capital assets $ 12,608,062
See accompanying notes to financial statements.
25
CITY OF DUBLIN
FIDUCIARY FUNDS
STATEMENT OF FIDUCIARY NET ASSETS
JUNE 30, 2003
Agency Fund
ASSETS
Cash and investments $ 189,493
Restricted cash and investments 172,312
Accounts receivable 5,734
Total Assets $ 367,539
LIABILITIES
Due to bondholders $ 367,539
Total Liabilities $ 367,539
See accompanying notes to fmancial statements.
26
NOTES TO BASIC FINANCIAL STATEMENTS
This page left blank intentionally.
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting pOlicies of the City of Dublin conform to accounting principles generally accepted in the United
States of America as applicable to governments. The Governmental Accounting Standards Board (GASB) is the
accepted standard setting body for governmental accounting and financial reporting principles.
A. Reporting Enti~.
The City of Dublin is a residential community with a significant regional commercial base, located in the Tri-
Valley area of Alameda County, California at the 'crossroads of Interstate Freeways 580 and 680. The City
was incorporated as a municipal corporation February 1, 1982. The population at January I, 2003, was
35,545, including prisoners 'housed at the Alameda County SherifFs Department Santa Rita Jail and the
Federal Correctional Institute.
The City operates under the Council-Manager form of government, with five elected Council members
served by a full-time City Manager and staff. At June 30, 2003, the City's staffwas comprised of 79 full-time
employees who were responsible for City-provided services. In addition, the City employs approximately 30-
75 seasonal recreation personnel. The City provides many traditional municipal services through contracts
with both public and private entities. Approximately 115 contract employees provide .a variety of municipal
services from City facilities.
The basic financial statements of the City of Dublin include the financial activities of the City as well as
Dublin Information, Inc. (DID. DH is a separate legal entity, which assists in providing financing to the City.
DH is governed by the same governing board as the City plus the City Manager and Assistant City Manager
and is dependent on the'City for its cash flows. The financial activity of DH is merged (termed ~blended')
with that of the City and is accounted for in a special revenue fund. The ownership of assets previously
owned by DII was transferred to the City as of February 1, 1999,' in conjunction with the early retirement of
the 1993 COPs.
B. Description of Funds
The accounts of the City are organized on the basis of funds, 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 basic financial statements as follows:
27
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
GOVERNMENTAL FUND TYPES
· 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 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 Funds are used to account for financial resources to be used for the acquisition or
construction of major capital facilities (other than those fmanced by proprietary funds).
PROPRIETARY FUND TYPES
· Internal Service Funds are used to account for the financing of goods provided by one department or
agency to other departments or agencies of the City on a cost-reimbursement basis.
FIDUCIARY FUND TYPE '
· Agency Funds are used to account for assets held by the City as an agent for individuals, private
organizations, other governments and/or other funds, in accordanc~ with the conditions of the
agreements. Agency funds are purely custodial and thus do not involve measurement of results of
operations.
C. Basis of Accounting/Measurement Focus
Government- Wide Financial Statements
The City Government-Wide Financial Statements include a Statement of Net Assets and a Statement of
Activities (including changes in Net Assets). These statements present summaries of Governmental
Activities for the City. Fiduciary activities of the City are not included in these statements.
These statements are presented on an "economic resources'.' measurement focus and the accrual basis of
accounting. Accordingly, all of the City's assets and liabilities, including capital assets and infrastructure as
well as long-term debt, are included in the accompanying Statement of Net Assets. The Statement of
Activities presents changes in net assets. Under the accrual basis of accounting, revenues are recognized in
the period in which the liability is incurred. The Statement of Activities demonstrates the degree to which
the direct expenses of a given function are offset by program revenues. Direct expenses are those that are
clearly identifiable with a specific function. The types of program revenues for the City are reported in three
categories: 1) charges for services, 2) operating grants and contributions, and 3) capital grants and
contributions. Charges for services include revenues from customers or applicants who purchase, use, or
directly benefit from goods, services, or privileges provided by a given function. Grant and contributions
include revenues restricted to meeting the operational or capital requirements of a particular function. Taxes
and other items not properly included among program revenue are reported instead as general revenue.
28
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #1 -SUMMARY OF SIGNIFICANT A CCO UNTING POLICIES (Continued)
Certain eliminations have been made as prescribed by GASB Statement No. 34 in regards to interfund
activities, payables, and receivables. All internal balances in the Statement of Net Assets have been
eliminated.
Governmental Fund Financial Statements
Governmental Fund Financial Statements include a Balance Sheet and a Statement of Revenue, Expenditures,
and Changes in Fund Balances for all major governmental funds and aggregated non-major fimds. An
accompanying schedule is presented to reconcile and explain the differences in net assets as presented in
these statements to the net assets presented in the Government-Wide Financial Statements. The City has
presented the Traffic Impact Fee Capital Projects Fund as major because it met thc qualifications of GASB
Statement No. 34. In addition, the City has elected to present the following funds as major because of their
significance to the City as a whole: the Public Facilities Fees Capital Projects Fund, the Park Dedication
Fees Capital Projects Fund, and the Fire Impact Fees Capital Projects Fund.
All governmental fi~ds are accounted for on a spending or financial flow measurement focus and the
modified accrual basis of accounting. Accordingly, only current assets and current liabilities are generally
included on their balance sheets. Their reported fund balance is their net current assets, which is considered
only to be a measure of available spendable resources. Governmental fund operating statements present a
summary of sources and uses of available spendable .resources during a period by presenting increases and
decreases in net current assets. Under modified accrual basis of accounting, revenues are recognized in the
accounting period in which they both become measurable and available to £mance expenditures of the current
period. Accordingly, revenues are recorded when received in cash, except that revenues subject to accrual
(generally 60-days after year-end) are recognized when due. Those revenues susceptible to accrual are
property taxes, sales taxes, transient occupancy taxes, interest revenues, charges for services, and court fines
(when measurable). Licenses, use of property, and permit 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 thc related fund
liability is incurred, except for principal and interest on general long term obligations which are recognized
when due. Because of their current financial resources focus, expenditure recognition for governmental fund
types excludes amounts represented by non-current liabilities. Since they do not affect net current assets,
such long-term amounts are not recognized as governmental fund expenditures or fund liabilities.
The City reports the following major governmental funds:
The General Fund is the government's primary operating fund. It accounts for all financial resources of
the City, except those required to be accounted for in another fund.
The Traffic Impact Fees Capital Projects Fund is used to account for fees received from developers of
properties, which can only be used for the design, development and construction of street projects within
the City.
29
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The Public Facilities Fees Capital Projects Fund is used to account for impact fees received from
developers of properties, which can only be used for the design, development, and construction of new
public facilities within the City.
The Park Dedication Fees Capital Projects Fund is used to account for park dedication fees received in
lieu of property from developers pursuant to the Quimby Act.
The Fire Impact Fees Capital Projects Fund iS used to account for fees received from developers of
properties, which can only be used for the design, development,, and construction of fire capital
expansion projects within the City.
Proprietary Fund Financial Statements
Proprietary funds financial statements include a Statement of Net Assets, a Statement of Revenues, Expenses,
and Changes in Net Assets, and a Statement of Cash Flows. All proprietary fund types are accounted for
using the accrual basis of accounting and the economic resources measurement focus. Their revenues are
recognized when they are earned, and their expenses are recognized when they are incurred. All liabilities
associated with their activity are also included on the Statement of Net Assets.
The City's internal service funds are pr~ented in the proprietary fund financial statements. Because the
principal users of the internal services are the City's governmental activities, the financial information of the
internal service funds are consolidated into the governmental activities column when presented in the
government-wide financial statements. To the extent possible, the cost of these services is reported in the
appropriate functional activity.
The City reports the following proprietary funds: Internal Service Funds are used to account for the
financing of goods or services provided by one department or agency to other department or agencies of the
City on a cost-reimbursement basis. The City uses internal service funds to account for asset replacement
and post-retirement health care activities.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating'revenues
and expenses generally result from providing services in connection with a proprietary fund's principal
ongoing operations. The principal operating revenues of the City's proprietary funds are charges to
customers for services. Operating expenses include the cost. of services, administrative expenses, and
depreciation on capital assets. All revenues and expenses not meeting this definition are reported as
nonoperating revenues and expenses.
The City applies all Financial Accounting Standards Board (FASB) Statements and Interpretations issued
after November 30, 1989, except for those that conflict with or contradict GASB pronouncements.
30
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #1 - SUMMARY OF SIGNIFICANT ACCO UNTING POLICIES (Continued)
Fiduciary Fund Financial Statements
Fiduciary Fund Financial Statements include a Statement of Net Assets. The fiduciary funds are used to
report assets held in a trustee or agency capacity for others and therefore are not available to support City
programs. Since these assets are being held for the benefit of a third party, these funds are not incorporated
into the government-wide statements.
The City's only fiduciary fund is an agency fund, which uses the accrual basis of accounting to account for
amounts held for debt service on the Dublin Boulevard Extension Special Assessment District. The Agency
fund is custodial in nature (assets equal liabilities) and therefore does not involved measurement of results of
operations. The City is not responsible for payment of the bonds and acts only as an agent to collect
assessments, pay bondholders, and initiate foreclosure proceedings.
D. Capital Assets, Depreciation, and Long-Term Liabilities
Capital assets, which include buildings, machinery and equipment, and infrastructure assets (roads, bridges,
curbs and gutters, streets and sidewalks, drainage systems, lighting-systems, and park improvements) are
reported in the 'Govemmental Activities columns of the Government-Wide Financial statements. Capital
assets are defined by the City as assets with an initial, individual cost of more than $1,000. Such assets are
recorded at historical cost or estimated historical cost if actual historical cost is not available. Donated capital
assets are valued at their estimated fair market value on the date donated.
Capital assets are depreciated over their estimated useful lives using the straight-line method. This means the
cost of the asset is divided by its expected useful life in years and the result is charged to expense each year
until the asset is fully depreciated. The purpose of depreciation is to spread the cost of capital assets over the
useful life of these assets. The amount charged to depreciation expense each year represents that year's pro
rata share of the cost of capital assets.
Depreciation of capital assets is charged as an expense against operations each year and the total amount of
depreciation taken over the. years, called accumulated depreciation, is reported on the Statement of Net
Assets of the government-wide financial statements as a reduction in the book value of the capital assets.
The City has assigned the useful lives listed below to capital assets.
Buildings and improvements 37.5 Years
Machinery and equipment 3-15 Years
Infrastructure
Streets 30 Years
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
GASB Statement No. 34 requires the City to report and depreciate new infrastructure assets effective with the
beginning of the current year. Infrastructure assets include roads, bridges, sidewalks, curbs and gutters, park
improvements, traffic signals, etc. Neither their historical cost nor related depreciation has historically been
reported in the f'mancial statements. The retroactive reporting of infrastructure is subject to an extended
implementation period and is first effective for fiscal years ending 2006'. The City has deferred
implementation of the retroactive reporting of infrastructure and plans to do so during the fiscal year ending
June 30, 2004.
E. Budgets and Budgeta~ Accounting
The City follows these procedures in establishing the budgetary data reflected in the basic 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.
2. The public is given an opportunity to-comment on the budget at a noticed City Council meeting.
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.
Any revisions, which alter total departmental expenditures of the City must be approved by City Council
except as follows: The City Manager will be allowed to transfer funds from the contingent reserve to
operating departments' salary and benefits accounts when required due to employee turnover or change in
status, City Council approved funding for increases in employees salaries and benefits, and City Council
approved funding for increases in contract or labor rates. Expenditures may not exceed budgeted
appropriations at the departmental level without City Council approval.
5. Formal budgetary integration is employed as a management control device during the year for the general
fund, special revenue funds and capital projects funds.
6. Budgets for the general, special revenue and capital projects funds are adopted on a basis consistent with
accounting principles generally accepted in the United States of America.
7. All unexpended appropriations lapse at the end of the fiscal year.
F. Cash Flows
Proprietary fund type cash and investments are used in the preparation of the statement of cash flows as
investments are not allocated to specific funds. Each of these funds' allocation of pooled cash and
investments is considered cash and cash equivalents.
32
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #1 - S UMMAR Y OF SIGNIFIC,4NT ,4 CCO UNTING POLICIES (Continued)
G. Investments
GASB Statement No 31, "Accounting and Financial Reporting for Certain Investments and External Pools",
requires governmental entities to report certain investments at fair value in the balance sheet and recognize
the corresponding change in the fair value of investments in the year in which the change occurred. In
accordance with GASB Statement No. 31, the City has adjusted certain investments to fair value (when
material).
H. Deferred Compensation Plan
City employees may defer a portion of their compensation under a City sponsored deferred compensation
plan created in accordance with Internal Revenue Code Section 457. Under this plan, participants are not
taxed on the deferred portion of their compensation until it is distributed to them; distributions may be made
only at termination of employment, retirement, death, or in an emergency as defined by the Plan. In
accordance with GASB Statement No. 32, the City revised the plan to no longer make the funds available to
the City's general creditors and accordingly, the City does not report the assets in the financial statements.
I. Proper~ Tax
Alameda County assesses properties and bills, collects, and distributes property taxes to the City. The
County remits the entire amount paid and handles all delinquencies. The City receives proportionate shares
of prior year collections including retaining interest and penalties. Secured and unsecured property taxes are
levied on January 1 of the preceding fiscal year.
Secured property tax is due in two installments, on November 1 and March 1, and becomes a lien on those
dates. It becomes delinquent on December 10 and April ! 0, respectively. Unsecured property tax is due on
July 1, and becomes delinquent on August 31.
The term 'unsecured' refers to taxes on personal property other than real estate, land and buildings. These
taxes are secured by liens on the property being taxed. Property tax revenues are recognized by the City in
the fiscal year they are assessed provided they become available within 60 days of year-end.
.L. Post Employment Health Care Benefits
The City provides certain health care benefits for 24 retirees as required under a contract signed with PEPYS.
All former employees who retire with the City under PERS are eligible for these benefits. The cost of retiree
health care benefits is recognized as an expenditure as premiums are paid. For the year ended June 30, 2003
those costs totaled $89,268.
33
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #1 - SUMMARY OF SIGNIFICANT A CCO UNTING POLICIES (Continued)
K. Deferred Revenue
Deferred revenues are recorded in governmental bands to the extent that cash is received but the measurable
and availability revenue recognition criteria is not met.
L. Use of Restricted Resources
When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted
resources first, and then unrestricted, resources as needed.
NOTE #2 - CASH AND INVESTMENTS
The City pools cash from all sources and all funds except that held by fiscal agents under debt indentures so that
it can be safely invested at maximum yields, consistent with safety and liquidity, while individual funds can make
expenditures at any time.
Cash and Investment Summary
Cash $ 3,670,345
Investments . .: 87,285,432
Total $ 90,955,777
Cash and investments are reported in the funds as follows:
Governmental funds $ 83,556,404
Proprietary funds 7,037,568
Fiduciary funds
Restricted 172,312
Unrestricted 189,493
Total $ 90,955,777
The cash and investments of the Fiduciary Funds are not included in the government-wide financial statements.
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE.30, 2003
NOTE #2 - CASH AND INVESTMENTS (Continued)
A. Cash Deposits and Collateral
BANK BALANCE
CATEGORY CARRYING
1 2 3 TOTAL AMOUNT
Categorized
Cash in banks $100,000 $ 2,376,260 $ 2,476,260 $ 3,669,120
Uncategorized:
Petty cash 1,225
Total Cash $ 3,670,345
California laW requires banks and savings and loan institutions to pledge government securities with a market
value of 110 percent of the deposit or first trust deed mortgage notes with a value of 150 percent of the
deposit, as collateral for all municipal deposits. This collateral places the City ahead of general creditors of
the institution. The City has waived collateral requirements for the portion of deposits covered by federal
deposit insurance.
These categories are as follows:
Category 1: Cash on hand or insured by the Federal Deposit Insurance Corporation or collateralized with
securities held by the City or byits agent in the City's name.
Category 2: Collateralized with securities held by the pledging financial institution's trust department or
agent in the City's name.
Category 3: Uncollateralized - (This includes any bank balance that is collateralized with securities held by
the pledging financial institution or by its trust department or agent but not in the City's name).
B. Categorization qf Credit Risk of Securities Instruments
GASB Statement No. 31, "Accounting and Financial Reporting for Certain Investments and for External
Investment Pools," generally applies to investments in external investment pools, investments purchased with
maturities greater than one year, mutual funds, and certain investment agreements. Generally, governmental
entities need to report the "fair value" changes for these investments at year-end and records these gains or
losses on their income statement. '
35
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #2 - CASH AND INVESTMENTS (Continued)
Methods and assumptions used to estimate fair value: The City maintains investment accounting records
on amortized cost and adjusts those records to 'fair value' on an annual basis. The City's investment
custodian provides market values on each investment instrument on a monthly basis. The investments held
by the City are widely traded in the financial markets and trading values are readily available from numerous
published sources. Unrealized gains and losses are recorded on an annual basis and the carrying value of its
investments is considered 'fair value'.
State of California State Treasurer's Local Agency Investment Fund ('LAIF'): The City holds an
investment in LAIF that is subject to being adjusted to "fair value". The City is required to disclose its
methods and assumptions used to estimate the fair value of its holdings in LAW. The City relied upon
information provided by the State Treasurer in estimating the City's fair value position of its holdings in
LAW. The City had a contractual withdrawal value of $39,800,000 whose pro-rata share of fair value was
estimated by the State Treasurer to be $39,913,282. The fair value change in this investment for the year
came to an amount that was not material for presentation in the financial statements.
The State Treasurer's Local Agency Investment Fund ("LAIF") is a governmental investment pool managed
and directed by the California State Treasurer and is not registered with the Securities and Exchange
Commission. An oversight committee, comprised of California State officials and various participants,
provide oversight to the management of the fund. The daily operations and responsibilities of LAW fall under
the auspices of the State Treasurer's office. The City is a voluntai-y participant in the investment pool.
CATEGORY REPORTED FAIR
1 2 3 AMOUNT VALUE
Inveslments:
Categorized
U.S. Government Agency Securities $ 28,638,666 $ 28,638,666 $ 28,638,666
Total Categorized
Investments $ 28,638,666 $ $ - 28,638,666 28,638,666
Uncategorized:
Local Agency Investment Fund (LAIF) (1) (2) 39,800,000 39,913,282
Morgan Stanley/Dean Witter U.S. Government Securities Mutual Fund (2) 1,694,938 1,694,938
Nations B auk Government Reserves Capital Fund (2) 17,000 17,000
U.S. Treasury Money Market Funds (2) 17,134,828 17,134,828
Total Uncategorized Investments 58,646,766 58,760,048
Grand Total Investments $ 87,285,432 $ 87,398,714
(1) The management of the State of California Pooled Money Investment Account (generally referred to as
LAW) has indicated to the City that as of June 30, 2003, the amortized cost of the pool was
$55,429,568,408 and the fair value for the pool was $55,587,336,494. Included in LAIF's investment
portfolio are certain derivative securities or similar products in the form of structured notes, totaling
$304,000,000 and asset-backed securities, totaling $985,676,000. LAIF's (and the City's) exposure to
risk (credit, market or legal) is not currently available.
36
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #2 - CASH AND INVESTMENTS (Continued)
(2) Pooled Investments - Pooled investments are not categorized because of their pooled, rather than
individual, nature.
The City categorizes its individual securities instruments in ascending order to reflect the relative risk of loss
of these instrtunents. This risk is called Credit Risk, the lower the number, the lower the risk. The three
levels of risk prescribed by accounting principles generally accepted in the United States of America are
described below:
Category 1: Insured or registered for which securities are held by the City or its agent in the City's name.
Category2: Uninsured and unregistered for which securities are held by the counterparty's trust
department or agent in the City's name.
Category 3: Uninsured and unregistered for which securities are held by the counterparty's trust or its trust
department or agent but not in the City's name.
C. Authorized Investments
The City's investment policy and the California Government Code allow the City to invest in the following
types of investments, subject to certain limitations as described in the City's investment policy:
Securities of the U.S. Government, or its agencies
Certificates of Deposit
Bankers Acceptances
Local Agency Investment Fund (State Pool) Deposits
Repurchase Agreements
Commercial Paper
Mutual Funds
D. Market Risk and Investment Maturities
The City limits market risk by limiting the types and maturities of its investments and by not borrowing
against its investments. Investment yield is ranked after safety and liquidity in making investment decisions.
All investments are held to maturity and maturities are matched to the City's projected cash flow needs.
Investments matured as follows at June 30:
2003
Available immediately $ 58,646,766
Maturities of less than one year 2,021,560
Maturities of one to five years 26,617,106
Total $ 87,285,432
37
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #2 - CASH AND INVESTMENTS (Continued)
E. Return on Investments
The City's return on investments comprises only interest income; there were no gains or losses on sales of
securities since all were held to maturity. This income is allocated among funds on the basis of their average
month-end cash and investment balances.
NOTE #3 - INTERFUND TRANSACTIONS
A. Interfund Balances
During the normal course of business the General Fund may advance money to other funds to cover deficit
cash balances caused by expenditures fbr reimbursement type grants. When the reimbursement is received,
normally shortly after year-end, the interfund liability is liquidated. The following interfund balances existed
at June 30, 2003:
Interfund Receivable Interfund Payable Amount
Nonmajor Special Revenue Funds: .
General Transportation Development Act $ 103,010
General State Park Bond Act 365,751
General State Transportation Improvement 308,720
General Transportation for Clean Air 23,112
General CMA Grant 389,065
General EMS 13,043
Total $ 1,202,701
B. Interfund Advances
During the 2002-03 fiscal year the General Fund advanced funds to the Fire Impact Fees Capital Projects
Fund to aid in the financing of fire station construction projects. The advance will be repaid through future
revenues to the Fire Impact Fees Fund. Interest accrues, on the advance, at a rate equal to the City's return
on its investment portfolio (2.92 percent for the year ended June 30, 2003). Changes in the advance for the
fiscal year ended June 30, 2003, were as follows:
Balance Addition to Balance
July 1, 2002 Advance Repayments June 30, 2003
General Fund Advance to
Fire Impact Fees Fund $ - $' 460,080 $ 460,080
38
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #3 - INTERFUND TRANSACTIONS (Continued)
C. Interfund Transfers
With Council approval, resources may be transferred from one City fund to another. Transfers are used to
move revenue from the fund that statute or budget requires to collect them to the fund that statute or budget
requires to expend them. Interfund transfers for the year ended June 30, 2003, consisted of the following:
Fund Receiving Transfer Fund Making Transfer Amount
Non_major Special Revenue Funds:
General Fund Vehicle Abatement $ 11,834
General Fund Community Development Block Grant 6,600
General Fund Storm Water Runoff 126
Nonmajor Special Revenue Fund:
Dublin Information Inc. General 20
Total $ 18,580
NOTE #4 - CAPITAL ASSETS
In accordance with GASB Statement No. 34, the City has reported all capital assets including infrastructure in the
Government-Wide Statement of Net Assets. The City has elected to use the basic approach as defined by GASB
Statement No. 34 for all infrastructure reporting, whereby depreciation expense and accumulated depreciation
has been recorded. The City has elected to use the deferral period for the retroactive reporting of infrastructure
values (infrastructure constructed or acquired prior to July 1, 2001) as provided for by GASB Statement No. 34.
The plan is to report these values at June 30, 2004.
Capital assets include land, buildings, and equipment used in City operations. Infrastructure includes roads,
bridges, curbs, sidewalks, drainage systems, street and traffic lights, park improvements and other
improvements used by all citizens.
39
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #4 - CAPITAL ASSETS (Continued)
Capital asset activity for the year ended June 30, 2003, was as follows:
Balance
Beginning of Balance
Year Increases Decreases End of Year
Capital Assets, Not Being Depreciated:
Land $ 9,775,002 $ 9,775,002
Streets Right o£Way 580,739 $ 2,590,147 3,170,886
Construction in progress 11,333,675 7,173,421 $ (9,180,777) 9,326,319
Total Capital Assets, Not Being Depreciated 21,689,416 9,763,568 (9,180,777) 22,272,207
Capital Assets, Being Depreciated:
Infrastructure 1,309,510 572,067 1,881,577
Buildings and improvements 23,542,080 17,773,919 41,315,999
Equipment 4,536,941 1,348,646 (419,421) 5,466,166
Total Capital Assets, Being Depreciated 29,388,531 19,694,632 (419,421) 48,663,742
Less Accumulated Depreciation For:
Infi~structure (45,108) (113,395) . (I 58,503)
Buildings and improvements (5,658,12 I) (1,317,168) (6,975,289)
Equipment (2,413,819) (791,117) 419,421 (2,785,515)
Total Accumulated Depreciation (8,117,048) (2,221,680) 419,421 (9,919,307)
Total Capital Assets Being Depreciated, Net 21,271,483 17,472,952 38,744,435
Governmental Activities Capital Assets, Net $ 42,960,899 $ 27,236,520 $ (9,180,777) $ 61,016,642
Depreciation expense was charged to functions/programs of the primary government as follows:
General Government $ 78,650
Highways and Streets 96,691
Culture and Leisure 26,546
Capital assets held by the City's internal service funds are charged to the various
functions' based on their usage of the assets 2,019,793
Total Depreciation Expense - Governmental Activities $ 2,221,680
NOTE #5- SPECIAL ASSESSMENT DISTRICT DEBT (NON-OBLIGATORY)
The Dublin Boulevard Extension Special Assessment District, formed within City limits, had outstanding debt
with a balance of $1,565,000 at June 30, 2003. Proceeds of the debt were used to finance improvements within
District boundaries. The City has no legal, contingent or moral obligation for the repayment of this debt and acts
solely as the collecting and paying agent for the District. Activities of the District are reported in the Dublin
Boulevard Extension Assessment District Agency Fund.
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTs
JUNE 30, 2003
NOTE #6 - CLASSIFICATION OF NET ASSETS
In the Government-Wide financial statements net assets are classified in the following categories:
Invested in Capital Assets
This category groups all capital assets, including infrastructure, into one component of net assets. Accumulated
depreciation on these assets reduces this category.
Restricted Net Assets
This category presents the external restrictions imposed by creditors, grantors, contributors or laws or regulations
of other governments and restrictions imposed by law through constitutional provisions or enabling legislation.
Unrestricted Net Assets
This category represents the net assets of the City that are not restricted for any project or other purpose. This
balance consists primarily of unreserved General Fund fund balance and unrestricted Internal Services Fund net
assets. See Note #7 for additional information on unreserved General Fund fund balance.
NOTE #7- CLASSIFICATION OF FUND BALANCE
In the Fund financial statements, fund equitY consists of reserved and unreserved amounts. Reserved fund equity
represents that portion of a fund balance or net assets, which has been appropriated for expenditure or is legally
segregated for a specific, future use. The remaining portion is unreserved.
Fund balances are reserved as follows:
Reserve for prepaid expenditures is the portion of fund. balance set aside to indicate that these items do not
represent available, spendable resources even though they are a component of assets.
· Reserve for cemetery endowment is the port/on of fund balance to be retained. This represents funds
transferred by the Dublin Cemetery Association, when the City acquired the cemetery.
· Reserve for long-term advances is the portion of fund balance set aside to indicate that these items do not
represent available, sPendable resources even though they are a component of assets.
· Reserve for recycling programs is the portion of the fund balances set aside for revenue reCeived from the
Alameda County Waste Management Authority to be used solely for recycling.
· Reserve for public safety programs represents the net amounts available from grant and other sources
restricted to use on public safety programs.
Reserve for street maintenance and construction represents amounts available and restricted to use on
projects related to street maintenance and construction.
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #7-CLASSIFICATION OF FUND BALANCE (Continued)
· Reserve for health and welfare programs includes amounts restricted for use on programs including housing,
noise mitigation, and garbage services.
· Reserve for community development programs includes amounts restricted for the development of bicycle
and pedestrian paths and walkways throughout the City.
· Reserve for capital improvement projects represents amounts collected from developers to be spent on
specific projects impacted by the development.
A portion of unreserved fund balance may be designated to indicate plans for financial resource use in a future
period, such as for general contingencies or capital projects. The General Fund had the following components of
unreserved fund balance at June 30, 2003.
General Fund:
Designated
Economic uncertainty $ 1,651,965
Downtown improvements/Open space 2,589,596
Senior center 1,786,372
Emerald Glen fire station 2,092,244
Senior center van 50,000
Capital improvement project carryovers 571,173
Affordable housing 1,000,000
Authorized expenditures 33,665,113
Total General Fund Unreserved Fund Balance $ 43,406,463
· Designated for economic uncertainty is the portion of fund balance to be used in the event of economic
uncertainty.
· The remaining designations represent the amount of resources set aside to fund or partially fund the various
projects. The amount designated for authorized expenditures represents the amount not specifically
identified with an individual project.
42
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #8 - JOINT POWERS AGREEMENTS
The City participates in joint ventures with other municipal entities through Joint Powers Agreements (JPAs)
established under the Joint Exercise of Powers Act of the State of California.
Joint Ventures
The Cities of Dublin, Pleasanton, and Livermore and the County of Alameda have entered a joint powers
agreement, dated September 15, 1992, under which Alameda County constructed an animal shelter facility on
county property. Certificates of Participation were issued to construct the facility. Under the agreement the
entities will share in the debt service costs of the project based upon their use of the animal shelter. The original
total principal portion of the scheduled debt is $4,523,877. Dublin's share for the 2002-2003 fiscal year, baSed
upon the statistics of live animals handled in the shelter in calendar year 1999, was $33,208 representing 9.08
percent of the debt service requirements. In addition, $91,650 was paid for the City's share of operating
expenses.
The City has not recorded an equity interest for the animal shelter agreement. As noted above the ongoing
fmancial interest is limited to the Statistics of live animals handled in the appropriate fiscal year. No Joint
Powers Authority was established as part of this agreement, therefore, separate financial statements are not
issued.
NOTE #9 - RISK MANAGEMENT
A. Risk Pool
The City participates in the ABAG PLAN Corporation, which covers general liability claims in an amount up
to $10,000,000 and prOperty inSurance coverage for members up to $500,000,000. The City has a deductible
or uninsured liability for general liability of up to $50,000 per claim. The deductible for property claims is
$5,000 per occurrence, excluding auto claims, which have a $10,000 deductible. Once the City's deductible is
met ABAG PLAN becomes responsible for payment of all claims up to the limit. During the fiscal year
ended June 30, 2003, the City contributed $137,842 for current year coverage.
ABAG PLAN is governed by a board consisting of representatives from member municipalities.. The board
controls the operations of ABAG PLAN including selection of management and approval of operating
budgets, independent of any influence by member municipalities beyond their representation on the Board.
The City's contributions to ABAG PLAN for liability coverage are based on a formula which considers the
ratio of the City's payroll to the total payrolls of all entities participating in the same layer of each program, in
each program year's loss history and population. Actual surpluses or losses are shared according to a
formula developed from overall loss costs and spread to member entities on a percentage b~/sis after a
retrospective rating.
43
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #9 - RISK MANA GEMENT (Continued)
There have been no significant reductions in any of the City's areas of insurance coverage and no settlement
mounts have exceeded coverage.
Audited financial information for ABAG PLAN can be obtained from ABAG PLAN, P.O. Box 2050,
Oakland, CA 94604-2050.
B. Liabili~. for Uninsured Claims-Adoption of GASB Statement No. JO
The GASB requires municipalities to record their liability for uninsured claims and to reflect the current
portion of this 1/ability as an expenditure in their financial statements. As discussed, above, the City has
coverage for such claims, but it has retained the risk for the deductible, or uninsured portion of these claims
in the ABAG PLAN. GASB Statement No. 10, "Financial Reporting for Risk Financing and Related
Insurance Issues" require that this amount be separately identified and recorded as a liability.
The City's liability for uninsured claims, limited to general liability claims as discussed above, includes a
provision for IBNR losses. This amount was estimated based on claims experience. Since incorporation in
1982, the City has never had a loss, which exceeded the amount of insurance coverage. The claim liability
for the current and prior years are as follows:
June 30, 2003 June 30, 2002
Beginning balance $ 137,210 $ 137,210
Provision for claims 25,895 61,460
Claims paid (25,895) (61,460)
Ending balance $ 137,210 $ 137,210
The City has obtained a workers' compensation insurance policy from the State Compensation Insurance
Fund, which has no deductible,
NOTE #10 - PENSION PLAN
A. PERS
Plan Description. The City of Dublin's defined benefit penSion plan, (Miscellaneous Plan), provides
retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and
beneficiaries. The Miscellaneous Plan is part of the Public Agency portion of the California Public
Employees Retirement System (CalPERS), an agent multiple-employer plan administered by CalPERS,
which acts as a common investment and administrative agent for participating public employers within'the
State of California. A menu of benefit provisions as well as other requirements are established by State
statutes within the Public Employees' Retirement Law. The City of Dublin selects optional benefit
provisions from the benefit menu by contract with CalPERS and adopts those benefits through local
ordinance or resolution. CalPERS issues a separate comprehensive annual financial report. Copies of the
CalPERS's annual financial report may be obtained from the CalPERS Executive Office - 400 P Street -
Sacramento, California, 95814.
44
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE (410 - PENSION PLAN (Continued)
Funding Policy. Active plan members in the Miscellaneous Plan are required to contribute 7 percent of their
annual covered salary, which the City pays on behalf of the employees. The City of Dublin is required to
contribute the actuarially determined remaining amounts necessary to fund the benefits for its members. The
actuarial methods and assumptions used are those adopted by the CalPERS Board of Administration. The
required employer contribution rate for Fiscal Year 2002-2003 was 3.93 percent for miscellaneous
employees. (Dublin has only miscel.laneous employees.) The contribution requirements of the plan members
are established by State statute and the employer contribution rate is established and may be amended by
CalPERS.
Annual Pension Cost. For Fiscal Year 2002-2003, the City of Dublin's annual pension cost was $551,833
and was equal to the City's required and actual contributions. The required contribution for Fiscal Year
2002-2003 was determined as part of the June 30, 2002, actuarial valuation (the most recent year available)
using the entry age normal actuarial cost method with the contributions determined as a percent of pay. The
actuarial assumptions included (a) 8.25 percem investment rate of return (net of administrative expenses); (b)
projected salary increases that vary by duration of service ranging from 3.75 percent to 14.2 percent for
miscellaneous members; and (c) zero percent cost-of-living adjustment. Both (a) and (b) include an inflation
component of 3.5 percent. The actuarial value of Miscellaneous Plan's assets was determined using a
technique that smoothes the effect of short-term volatility in the market value of investments over a two to
five year period depending on the size of investment gains and/or losses. Miscellaneous Plan's unfunded
actuarial accrued liability (or excess assets) is being amortized as a level percentage of projected payroll on a
closed basis. The remaining amortization period ends June 30, 2011.
Three-year Trend Information for the Miscellaneous Plan
Annual Percentage
Fiscal Year Pension Cost of APC Net Pension
Ending (APC) Contributed Obligation
6/30/2001 $ 419,314 100% $ 0
6/30/2002 $ 489,099 100% $ 0
6/30/2003 $ 551,833 100% $ 0
B. Social Securi~_
The Omnibus Budget Reconciliation Act of 1990 (OBRA) mandates that public sector employees who are
not members of their employer's existing retirement system as of January 1, 1992 be covered by either Social
Security or an alternative plan. The City's part-time, seasonal and temporary employees are covered under
Social Security, which requires these employees and the City to each contribute 6.2 percent of the
employees' pay.
45
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #11 - COMMITMENT AND CONTINGENT LIABILITIES
A. Grant Programs
The City participates in several Federal and State grant programs. No cost disallowances were proposed as a
result of the City's financial audit; 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.
B. Litigation
The City is subject to litigation arising in the normal course of business. In the opinion of the City Attorney
there is no pending litigation, which is likely to have a material adverse effect on the financial position of the
City.
C. Reimbursements to Ci~. of Pleasanton
On January 23, 1996, the City of Dublin adopted a fee for the purpose of reimbursing the City of Pleasanton
for the costs of making improvements to the interchanges on Interstate 580 at Hacienda Drive and Tassajara
Road/Santa Pdta Road that benefit development in both Pleasanton and future development in Eastern
Dublin. This reimbursement will occur through the assessment of fees on future development projects in the
City of Dublin. The Cities entered into an agreement on November 3, 1998, to allow for an automhtic annual
escalator factor in the amount of the fee assessed to developers based upon the LAIF interest rate and to
repay the City of Pleasanton. The amount of the contingent liability outstanding at June 30, 2003, was
$5,641,574, which is net of the $114,452 in payments made by the City of Dublin to reduce this contingent
liability during the year. The accounting for the amount due is not recorded as indebtedness since future
payments are contingent upon the future collection of development fees assessed for reimbursement of these
improvements.
The City has also entered into an agreement with the City of Pleasanton for the reimbursement of the cost of
construction of a two-lane access road and the extension of Hacienda Drive. The advance as of June 30,
2003, is $3,031,653, which includes $66,599 interest and $106,042 in repayments for the current year.
Interest accrues on the reimbursement at 7.48 percent per year. The reimbursement is to be repaid from
proceeds of assessments, special taxes or fees imposed on the property east of Dougherty Road with no
specific due date. The City's General Fund shall not be obligated to repay this obligation. The accounting
for the amount due is not recorded as indebtedness since future payments are contingent upon the future
collection of development fees assessed for reimbursement of these improvements.
46
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #11 - COMMITMENT AND CONTINGENT LIABILITIES (Continued)
D. BART Agreement
In 1990, the City and Bay Area Rapid Transit District (BART) entered into a Settlement Agreement
regarding the City's extension of Dublin Boulevard to the extension of Hacienda Drive. BART advanced the
City $2,285,000 to purchase land and construct the road extensions. The advance was structured with two
components: a Short Term and a Long Term Advance. These projects are now complete.
Short Term Advance:
The amount provided as a Short-Term Advance came due on December 31, 1995. In accordance with a
seParate agreement, the Alameda County Surplus Property Authority repaid this amount. See the related note
on the Alameda County Surplus Property Authority below.
Long Term Advance:
BART's long term advance to the City, including accrued interest as of June 30, 2003 is $2,032,637, which
has no specific due date. Under the City's Agreement with BART, interest on the advance accrues at a rate
based on BART's average rate of return on its investments. During the year ended June 30, 2003 unpaid
interest incurred was added to the balance owed in the amount of $106,168. The City expects to repay
principal and interest on BART's advance out of developer fees, charges and other non-tax revenUes
generated by future development in the area of the BART station. The agreement states that in no event is
the advance to be repaid from the City's General fund or from general revenues. The Agreement provides for
the forgiveness by BART of any principal or interest still outstanding on March 27, 2010. The accounting
for the amount due is not recorded as indebtedness since future payments are contingent upon the future
collection of development fees assessed for repayment of the advance.
E. Alameda Count_ Surplus Proper~ Authori~.
The City entered into an agreement with the Alameda County Surplus Property Authority for the repayment
of the City's Short Term BART Advance by the Authority. Under the terms of the agreement, interest on the
advance shall accrue at a rate based on the Alameda County Treasurers return on investments. As of June 30,
2003, the advance is $2,196,012, which includes accrued interest of $63,962 for the current year. The
advance is to be repaid from developer fees, charges, and other non-tax revenues from the benefiting area and
has no specific due date. The City's General Fund shall not be obligated to repay this obligation. The
accounting for the amoUnt due is not recorded as indebtedness since future payments are contingent upon the
future collection of development fees assessed for repayment of the advance.
47
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
JUNE 30, 2003
NOTE #11- COMMITMENT AND CONTINGENT LIABILITIES (Continued)
F. Other Development Agreements
The City of Dublin entered into several agreements with various developers and merchant builders who are
developing numerous residential and commercial projects throughout the City. The City agreed to grant the
developers impact fee credits since the developers constructed certain improvements beyond what was
needed to serve their specific projects. The value of credits do not increase for inflation nor do they accrue
interest. Any unused credits may be used by the developers on other projects located elsewhere in the City.
The value of the credits as of June 30, 2003, was $55,851,031. For the current year, additions to the credits
amounted to $16,187,987 and credits used mounted to $1,858,091. The accounting for the amounts due are
not recorded as indebtedness since the payments (use of the credits) are contingent upon the collection of
development fees from building growth that has not yet occurred.
NOTE #12 - DEFICIT FUND BALANCE
The Fire Impact Fees Capital Projects Fund ended the fiscal year with a $1,075,338 deficit fi.md balance. The
General Fund has advanced money to this fund (Note #3B) to cover current cash flow needs. Repayment of the
advance is expended to come from future revenues to the fund.
48
REQUIRED SUPPLEMENTARY INFORMATION
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CITY OF DUBLIN
SCHEDULE OF FUNDING PROGRESS
MISCELLANEOUS PLAN OF THE CALIFORNIA
PUBLIC EMPLOYEE RETIREMENT SYSTEM
JUNE 30, 2003
Unfunded (Overfunded)
Actuarial Entry Age Unfunded Annual Actuarial Accrued
Valuation Value of Normal Accrued (Overfunded) Funded Covered Liability as a
Date Assets Liability Liability Ratio Payroll % of Payroll
6/30/2000 $6,583,971 $ 5,142,366 $ (1,441,605) 128.0% $3,404,873 (42.3)%
6/30/2001 $7,235,624 $ 6,290,557 $ (945,077) 115.0% $3,880,432 (24.4)%
6/30/2002 $7,261,051 $ 7,306,750 $ 45,699 99.4% $4,760,484 1.0%
49
This page left blank intentionally.
OTHER SUPPLEMENTARY INFORMATION
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CITY OF DUBLIN
GENERAL FUND
JUNE 30, 2003
The General Fund is used to account for all financial resources except those required to be accounted for in
another fund.
50
CITY OF DUBLIN
SCHEDULE OF BUDGET VERSUS ACTUAL
REVENUES BY SOURCE
GENERAL FUND
FOR THE FISCAL YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
Property Taxes
Current Year Secured $ 8,517,000 $ 8,517,000 $ 8,414,257 $ (102,743)
Current Year Unsecured 750,000 750,000 769,824 19,824
Prior Year Secured 76,000 76,000 184,433 108,433
Prior Year Unsecured 15,000 15,000 31,547 16,547
Supplemental Property Tax 412,000 412,000 494,686 82,686
Pilot Tax 67,843 67,843 52,502 (15,341)
property Tax Penalties 55,000 55,000 92,293 37,293
Sub-Total 9,892,843 9,892,843 10,039,542 146,699
Taxes Other Than Property
Sales & Use Tax 12,702,000 12,702,000 13,193,407 491,407
Real Property Transfer Tax 415,000 415,000 379,089 (35,911)
Hotel Transient Occupancy Tax 858,000 858,000 717,083 (140,917)
Franchise Taxes 1,493,900 1,493,900 1,394,953 (98,947)
Sub-Total 15,468,900 15,468,900 15,684,532 215,632
License and Permits
Building Permits 1,399,794 1,399,794 2,196,930 797,136
Animal Licens.es 5,000 5,000 5,740 740
Encroachment Permits 35,000 35,000 25,609 (9,391)
Business License 117,000 117,000 122,324 5,324
F/re Permits ~. ~. 65,610 65,610 71,282 5,672
Sub-Total 1,622,404 1,622,404 2,421,885 799,481
Fines and Forfeitures
Parking Fines 65,000 65,000 54,213 (10,787)
Other Court Fines 45,000 45,000 81,012 36,012
Other Fines & Penalties 4,000 4,000 4,390 390
Sub-Total 114,000 114,000 139,615 25,615
Revenue From Use of Money and Property
Interest 1,244,226 1,244,226 1,487,493 243,267
Rents & Concession:
Field Rentals 22,110 22,110 37,282 15,172
Building 71,505 71,505 69,174 (2,33 I)
Pool 11,950 '11,950 2,981 (8,969)
Heritage Center 5,560 5,560 4,596 (964)
Community Gym 18,187 18,187 24,986 6,799
Sub-Total 1,373,538 1,373,538 1,626,512 252,974
5I
CITY OF DUBLIN
SCHEDULE OF BUDGET VERSUS ACTUAL
REVENUES BY SOURCE (CONTINUED)
GENERAL FUND
FOR THE FISCAL YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
Intergovernmental Revenues - State
Motor Vehicle In-Lieu Tax 1,937,000 1,937,000 2,071,554 134,554
Off Highway Vehicle In-Lieu Fee 765 765 886 121
Homeowner's Property Tax Relief 136,000 136,000 139,339 3,339
State Grants 22,400 22,400
Sub-Total 2,073,765 2,096,165 2,234,179 138,014
Charges for Services
Zoning & Subdivision Fees 1,506,218 1,506,218 1,562,722 56,504
Plan Check & Inspection Fees 1,609,000 1,671,500 1,422,710 (248,790)
Fire Plan Chk & Insp Fees 107,230 107,230 222,479 115,249
Sale of Maps & Documents 18,000 18,000 17,875 (125)
Special Police Services 18,500 18,500 18,910 410
Fire Service Charges 349,318 349,318 401,390 52,072
Park & Recreation Fees:
Recreation Instruction 117,870 117,870 150,615 32,745
Preschool 79,561 79,561 83,803 4,242
Special Events 127,500 127,500 108,253 (19,247)
Playgrounds 171,105 17 I, 105 145,528 (25,577)
Teens 50,275 50,275 45,649 (4,626)
Adult Sports 54,985 54,985 57,107 2,122
Aquatics 136,228 136,228 142,317 6,089
Seniors 43,520 43,520 40,731 (2,789)
Youth Sports 81,305 81,305 86,160 4,855
Heritage Center 200 200 50 (150)
Building Use Insurance 6,000 6,000 8,139 2,139
Zone 7 Drainage Fees 3,358 3,358 2,201 (1,157)
DUI Program 14,000 14,000 2,375 (11,625)
Booking Fees Recovery 75,900 75,900 73,911 (1,989)
Solid Waste Fee 122,000 122,000 107,653 (14,347)
Internment Fees 6,180 6,180 4,185 (1,995)
Cable Support Fee 54,282 54,282 55,492 1,210
Sub-Total 4,752,535 4,815,035 4,760,255 (54,780)
Other Revenues
Sale of Real & Personal Property 1,000 1,000 4,806 3,806
Contributions 114,650 127,721 124,604 (3,117)
Miscellaneous 6,000 6,000 5,934 (66)
Reimbursement 611,118 611,118 265,894 (345,224)
Reimbursement-Public Damage 10,000 10,000 9,476 (524)
Sub-Total 742,768 755,839 410,714 (345,125)
Total Revenues By Source $ 36,040,753 $ 36,138,724 $ 37,317,234 $ 1,178,510
52
CITY OF DUBLIN
SCltEDULE OF BUDGET VERSUS ACTUAL
DEPARTMENTAL EXPENDITURES
GENERAL FUND
FOR TIlE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
General government
City Council $ 212,932 $ 218,332 $ 196,233 $ 22,099
City Manager 739,518 757,318 740,856 16,462
City Attorney 659,076 850,822 850,822
Central Services 319,600 320,800 292,316 28,484
Administrative Services 1,038,223 1,038,223 982,222 56,001
Building management 731,567 757,327 757,323 4
Insurance cost center 386,665 386,665 362,022 24,643
Elections cost center 20,940 20,940 10,919 10,021
Nondepartmental 285,000 201,185 146,605 54,580
Total General Government 4,393,521 4,551,612 4,339,318 212,294
Public safety
Police 7,876,674 7,947,079 7,947,079
Crossing guards 71,462 71,462 61,879 9,583
Animal control 181,437 181,437 164,565 16,872
Disaster preparedness 60,959 62,159 59,238 2,921
Fire Services 5,108,279 5,114,779 4;951,374 163,405
Total Public Safety 13,298,811 13,376,916 13,184,135 192,781
Highways and streets
Public works administration 616,631 632,482 632,481 1
Street maintenance' 142,527 142,527 132,439 10,088
Street tree maintenance 70,337 76,663 76,663
Street landscape maintenance 507,726 507,726 495,105 12,621
Total Highways and Streets 1,337,221 1,359,398 1,336,688 22,710
Health and welfare
Child care 15,000 15,000 15,000
Waste management 8,242 8,242 1,798 6,444
Housing programs 45,759 45,759 23,502 22,257
Total Health and Welfare 69,001 69,001 40,300 28,701
53
CITY OF DUBLIN
SCHEDULE OF BUDGET VERSUS ACTUAL
DEPARTMENTAL EXPENDITURES (CONTINUED)
GENERAL FUND
FOR TIlE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
Culture and leisure
Library services 496,219 496,219 485,281 10,938
Cultural activities 137,153 137,153 12t,198 15,955
Heritage Center 90,771 93,371 92,804 567
Cemetery operations 37,418 37,418 31,342 6,076
Park maintenance 1,263,230 1,263,230 1,200,226 63,004
Community cable television 70,906 83,906 76,233 7,673
Parks and community services 2,421,062 2,478,133 2,393,354 84,779
Parks and facilities management 223,360 223,360 211,126 12,234
Total Culture and Leisure 4,740,119 4,812,790 4,611,564 201,226
Community development
Planning/Building safety 3,574,889 3,693,289 3,234,390 458,899
Engineering 1,852,477 1,902,477 1,865,710 36,767
Economic development 285,875 '"~ 297,904 278,983 18,921
Total Community Development 5,713,241 5,893,670 5,379,083 514,587
Capital Outlay
General improvements 6,939,521 2,912,748 2,258,752 653,996
Community improvements 1,774,943 1,825,317 442,109 1,383,208
Parks 1,425,035 1,598,896 6691565 929,331
Street construction and improvements 980,597 986,147 464,047 522,100
Total Capital Outlay 11,120,096 7,323,108 3,834,473 3,488,635
Total Expenditures $40,672,010 $37,386,495 $32,725,561 $ 4,660,934
54
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CITY OF DUBLIN
MAJOR FUND BUDGETARY COMPARISON SCHEDULES
JUNE 30, 2003
A budgetary comparison statement is presented as part of the basic financial statements for the General Fund as
provided for by GASB Statement No. 34. The budgetary comparison schedules for the remaining major funds
are presented to aid in additional analysis and are not a required part of the basic financial statements.
55
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
TRAFFIC IMPACT FEES CAPITAL PROJECTS FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 603,062 $ 603,062 $ 583,864 $ (19,198)
Developer fees 4,239,000 6,687,112 4,637,710 (2,049,402)
Total Revenues 4,842,062 7,290,174 5,221,574 (2,068,600)
EXPENDITURES
Current:
General government
Capital outlay
Parks 133,135 133,135 133,135
Streets 19,761,087 21,060,258 9,091,561 11,968;697
Total Expenditures 19,894,222 21,193,393 9,091,561 12,101,832
Net Change in Fund Balance ~ (15,052,160) (13,903,219) (3,869,987) 10,033,232
Fund Balance, Beginning of Year 21,646,368 21,646,368 21,646,368
Fund Balance, End of Year $ 6,594,208 $ 7,743,149 $ 17,776,381 $ 10,033,232
56
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL '
PUBLIC FACILITIES FEES CAPITAL PROJECTS FUND
FOR TIlE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 86,298 $ 86,298 $ 220,324 $ 134,026
Developer fees 1,815,909 1,815,909 2,561,448 745,539
Total Revenues 1,902,207 1,902,207 2,781,772 879,565
EXPENDITURES
Capital outlay
General 3,636,349 7,698,575 6,862,372 836,203
Parks 2,734,915 2,784,799 893,833 1,890,966
Total Expenditures 6,37!,264 10,483,374 7,756,205 2,727,169
Net Change in Fund Balance (4,469,057)~. (8,581,167) (4,974,433) 3,606,734
Fund Balance, Beginning of Year 8,060,899 8,060,899 8,060,899
Fund Balance, End of Year $ 3,591,842 $ (520,268) $ 3,086,466 $ 3,606,734
57
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
PARK DEDICATION CAPITAL PROJECTS FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts . Actual Positive
Original Final Amounts (Negative)
REVENUES
Imerest $ 74,677 $ 74,677 $ 32,953 $ (41,724)
Developer fees 477,496 477,496 44,520 (432,976)
Total Revenues 552,173 552,173 77,473 (474,700)
EXPENDITURES
Capital outlay
Parks 480,119 498,143 380,875 117,268
Total Expenditures 480,119 498,143 380,875 117,268
Net Change in Fund Balance 72,054 54,030 (303,402) (357,432)
Fund Balance, Beginning of Year 1,354,005 1,354,005 1,354,005
Fund Balance, End of Year $ 1,426,059 $ 1,408,035 $ 1,050,603 $ (357,432)
58
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
FIRE IMPACT FEES CAPITAL PROJECTS FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 36,529 $ 36,529 $ (36,529)
Developer fees 3,253,000 3,253,000 $ 354,378 (2,898,622)
Total Revenues 3,289,529 3,289,529 354,378 (2,935,151)
EXPENDITURES
Capital outlay
General 7,033,650 7,056,578 3,443,746 3,612,832
Total Expenditures 7,033,650 7,056,578 3,443,746 3,612,832
Net Change in Fund Balance (3,744,121) (3,767,049) (3,089,368) 677,681
Fund Balance, Beginning of Year 2,014,030 2,014,030 2,014,030
Fund Balance, EndofYear $ (1,730,091) $(1,753,019) $ (1,075,338) $ 677,681
59
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CITY OF DUBLIN
JUNE 30, 2003
NON-MAJOR GOVERNMENTAL FUNDS
Special Revenue Fund Descriptions
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.
Special Criminal Activity Fund - Established to account for receipt of funds derived from asset forfeitures.
Vehicle Abatement Fund - Established to account for the use of funds received from vehicle registration of
Dublin residents for the towing of abandoned vehicles in city limits.
SuPplemental Law Enforcement (SLES/COPS) - Established to account for police expenditures funded by a
State grant.
Federal Police Grant - Established to account for police expenditures funded by a Federal grant.
CLEEP Grant - Established to account for police technology expenditures funded by a State grant.
Traffic Safety Fund - Established to account for the receipt of traffic frees and traffic safety expenditures.
State Gas Tax Fund - Established to account for receipt of state gasoline taxes and expenditures.
Community Development Block Grant (CDBG) Fund - Used to account for grants and expenditures related to
community development block grants.
Intermodal Surface TransPortation Efficiency (ISTEA) Act - Established to account for street construction
expenditures funded by a Federal grant.
Transportation Development Act (TDA) Fund - Established to account for Transportation Development Act
grant receipts and construction expenditures for bike paths and access ramps for the handicapped.
FEMA Fund - Established to account for eXPenditures funded with FEMA grants.
State Park Bond Act - Established to account for park bond expenditures funded with State Park Bond Act
funds.
Measure B Sales Tax Transportation Fund - Established to account for an Alameda County voter approved
increase in sales tax used for improvements on streets and roads.
State Transportation Improvement - Established to account for grant receipts from the state used for capital
improvements on local streets.
Transportation for Clean Air (TFCA) - Established to account for grant receipts from the State to be used for
capital improvements on local streets.
6O
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CITY OF DUBLIN
JUNE 30, 2003
NON-MAJOR GOVERNMENTAL FUNDS
Special Revenue Fund Descriptions (Continued)
Storm Water Runoff Fund - Established to account for the use of funds received from fees collected to mitigate
pollution within the City without sPecific sources and to comply with Federal requirements for National Pollution
Discharge Elimination System (NPDES).
Measure D Recycling Fund - Established to account for the use of funds received which are levied by the
County Pursuant to a charter amendment and are provided for recycling and related activities.
Garbage Service Fund - Established to account for the use of fi~ds received which are levied by the county for
garbage pick-up and removal and recycling services.
Measure B Bike and Pedestrian - Established to account for an Alameda County voter approved increase in
Sales tax used for bike and pedestrian related projects.
CMA Grant - Established to account for grant receipts from the Congestion Management Agency used for
capital improvements on local streets.
EMS Fund - Established to account for excise taxes received to fund the costs of providing Emergency Medical
Services.
Traffic Congestion Relief - Established to account for traffic congestion relief expenditures funded by a State
grant.
Housing and Noise Mitigation - Established to account for impact fees received from developers of properties,
which can only be used for the design, development, and construction of citywide affordable housing projects
and noise mitigation projects in Eastern Dublin.
Dublin Information Inc. (DID Established to account for the expenditures of DII, a separate legal entity,
which assists in providing financing to the City.
Maintenance Districts - Established to account for revenue and related expenditures of lighting and landscape
activities.
61
CITY OF DUBLIN
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2003
Special Revenue Funds
Special Supplemental Federal
Criminal Vehicle Law Police
Activity Abatement Enforcement Grant
ASSETS
Cash and investments $ 22,558 $ 110,552 $ 137 $ 12
Accounts receivable
Total Assets $ 22,558 $ 110,552 $ 137 $ 12
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts payable
Due to other funds .~. .
Total Liabilities
FUND BALANCES
Reserved for:
Recycling programs
Public safety programs 22,558 110,552 137 12
Street maintenance and construction
Health and welfare programs
Community development programs
Total Fund Balances 22,558 110,552 137 12
Total Liabilities and
Fund Balances $ 22,558 $ 110,552 $ 137 $ 12
62
Special Revenue Funds
Community Intermodal Surface
CLEEP Traffic State Development Transportation
Grant Safety Gas Tax Block Grant Efficiency Act
$ 21,589 $ 149,135 $ 1,509,356 $ 220
36,321 3,873
$ 21,589 $ 185,456 $ 1,509,356 $ 4,093 $
113 25,862 207,328 4,093
113 25,862 207,328 4,093
21,476 159,594
1,302,028
21,476 159,594 1,302,028
$ 21,589 $ 185,456 $ 1,509,356 $ 4,093 $
63
CITY OF DUBLIN
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET (CONTINUED)
JUNE 30, 2003
Special Revenue Funds
Transportation Measure B
Development State Park Sales Tax
Act FEMA Bond Act Transportation
ASSETS
Cash and investments $ 407,263
Accounts receivable $ 103,010 $ 7,259 $ 389,628 61,658
Total Assets $ 103,010 $ 7,259 $ 389,628 $ 468,921
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts payable 7,259 23,877 219,000
Due to other funds 103,010 365,751
Total Liabilities .i 103,010 7,259 389,628 219,000
FUND BALANCES
· Reserved For:
Recycling programs
Public safety programs
Street maintenance and construction 249,921
Health and welfare programs
Community development programs
Total Fund Balances 249,921
Total Liabilities and
Fund'Balances $ 103,010 $ 7,259 $ 389,628 $ 468,921
64
Special Revenue Funds
State Storm Measure B
Transportation Transportation Water Measure D Garbage Bike and CMA
Improvement for Clean Air Runoff Recycling Service Pedestrian Grant
$ 302,372 $455,854 $ 8,142
$ 1,396,264 $ 23,112 $ 27 272,569 11,749 18,378 $ 400,000
$ 1,396,264 $ 23,112 $ 27 $ 574,941 $467,603 $ 26,520 $ 400,000
1,087,544 84,755 466,628 1,543 10,935
308,720 23,112 389,065
1,396,264 23,112 84,755 466,628 1,543 400,000
490,186
27
975
24,977
27 490,186 975 24,977
$ 1,396,264 $ 23,112 $ 27 $ 574,941 $467,603 $ 26,520 $ 400,000
65
?
CITY OF DUBLIN
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET (CONTINUED)
JUNE 30, 2003
Special Revenue Funds
Traffic Housing Dublin
Congestion and Noise Information
EMS Relief Mitigation Inc.
AS SETS
Cash and investments $ 102,196 $ 9,890,,132
Accounts receivable $ 40,612 24,117
Total Assets $ 40,612 $ 126,313 $ 9,890,132 $
LIABILITIES AND FUND BALANCES
LIABILITIES
Accounts payable 500 73,492 19,811
Due to other funds 13,043
Total Liabilities 13,543 73,492 19,811
FUND BALANCES
Reserved For:
Recycling programs
Public safety programs 27,069
Street maintenance and construction 52,821
Health and welfare programs 9,870,321
Community development programs
Total Fund Balances 27,069 52,821 9,870,321
Total Liabilities and
Fund Balances $ 40,612 $ 126,313 $ 9,890,132 $
66
Special Revenue Funds
Maintenance Districts Total
Dougherty Santa Rita Dublin Street Non-major
Street Stagecoach Landscape Assessment Lighting Governmental
Lighting Landscape & Lighting District 97-1 Assessment Funds
$179,512 $ 37,571 $ 29,900 $ 127,178 $ 98,615 $ 13,452,294
1,722 362 1,926 471 261 2,793,319
$181,234 $ 37,933 $ 31,826 $ 127,649 $ 98,876 $ 16,245,613
25,940 2,404 3,508 25,117 1,263 2,290,972
1,202,701
25,940 2,404 3,508 25,117 1,263 3,493,673
490,186
155,294 97,613 594,305
35,529 28,318 102,532 1,771,176
9,871,296
24,977
155,294 35,529 28,318 102,532 97.613 12,751,940
$181,234 $ 37,933 $ 31,826 $ 127,649 $ 98,876 $ 16,245,613
67
CITY OF DUBLIN
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2003
Special Revenue Funds
Special Supplemental Federal'
Criminal Vehicle Law Police
Activit~ Abatement Enforcement Grant
REVENUES
Property taxes
Taxes other than property
Intergovernmental $ 18,805 $ 100,000 $ 54,652
Charges for services
Interest $ 733 3,415 2,381 1,233
Fines and forfeitures
Developer fees
Other revenue 1,939
Special assessments
Total Revenues 2,672 22,220 102,381 55,885
EXPENDITURES
Current:
General government
Public safety 5,068 105,302 55,909
Highways and streets
Health and welfare
Community development
Capital outlay
General
Community improvement
Parks
Streets
Total Expenditures 5,068 105,302 55,909
Excess (Deficiency) of Revenues
Over (Under) Expenditures (2,396) 22,220 (2,921) (24)
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out (11,834)
Total Other Financing Uses (11,834)
Net Change in Fund Balances (2,396) 10,386 (2,921) (24)
Fund Balances, Beginning of Year 24,954 100,166 3,058 36
Fund Balances, End of Year $ 22,558 $ 110,552 $ 137 $ 12
68
Special Revenue Funds
Community Intermodal Surface
CLEEP Traffic State Development Transportation
Grant Safety Gas Tax Block Grant Efficiency Act
$ 20,549 $ 631,720 $ 71,227
926 $ 5,148 48,630
134,669
21,475 139,817 680,350 71,227
43,949 137,633
238,622
28,427
6,000
36,200
875,787
43,949 137,633 1,120,409 64,627
(22,474) 2,184 (440,059) 6,600
(6,600)
(6,600)
(22,474) 2,184 (440,059)
43,950 157,410 1,742,087
$ 21,476 $ 159,594 $ 1,302,028 $ $
69 (CONTINUED)
CITY OF DUBLIN
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES (CONTINUED)
FOR THE YEAR ENDED JUNE 30, 2003
Special Revenue Funds
Transportation Measure B
Development State Park Sales Tax
Act FEMA Bond Act Transportation
REVENUES
Property taxes
Taxes other than property $ 293,667
Intergovernmental $ 103,010 $ 7,259 $ -' 389,628
Charges for services
Interest 9,507
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues 103,010 7,259 389,628 303,174
EXPENDITURES
Current:
General government
Public safety 7,259
Highways and streets
Health and welfare
Community development
Capital outlay
General
Community improvement
Parks 389,628
Streets 103,010 219,000
Total Expenditures 103,010 7,259 389,628 219,000
Excess (Deficiency) of Revenues
Over (Under) Expenditures 84,174
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Uses ·
Net Change in Fund Balances 84,174
Fund Balances, Beginning of Year 165,747
Fund Balances, End of Year $ - $ $ $ 249,921
Special Revenue Funds
State Storm Measure B
Transportation Transportation Water Measure D Garbage Bike and CMA
Improvement for Clean Air Runoff Recycling Service Pedestrian Grant
$ 86,533
$ 7,286,212 $ 67,290 $ 197,415 $ 41,068
$ 75 $ 920,572
3 7,558 5,092 643
249,643
7,286,212 67,290 '78 454,616 925,664 87,176 41,068
129.816 933,768
36,468
7,286,212 67,290 67,738 41,068
7,286,212 67,290 166,284 933,768 67,738 41,068
78 288,332 (8,104) 19,438
(126)
(126).
(48) 288,332 (8,104) 19,438
75 201,854 9.079 5,539
$ $ $ 27 $ 490,186 $ 975 $ 24,977
71 (CONTINUED)
CITY OF DUBLIN
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES (CONTINUED)
FOR THE YEAR ENDED JUNE 30, 2003
Special Revenue Funds
Traffic Housing Dublin
Congestion and Noise Information
EMS Relief Mitigation Inc.
REVENUES
Property taxes $ 103,108
Taxes other than property
Intergovernmental 101,706 $ 87,857
Charges fo~ services
Interest 235 2,393 $ 282,878
Fines and forfeitures
Developer fees 2,597,509
Other revenue
Special assessments
Total Revenues 205,049 90,250 2,880,387
EXPENDITURES
Current:
General government 23,903 $ 20
Public safety 204,077
Highways and streets
Health and welfare 219,772
Community development
Capital outlay
General 9,856
Community improvement
Parks
Streets 73,493
Total Expenditures 204,077 73,493 253,531 20
Excess (Deficiency) of Revenues
Over (Under) Expenditures 972 16,757 2,626,856 (20)
OTHER FINANCING SOURCES (USES)
Transfers in 20
Transfers out
Total Other Financing Uses 20
Net Change in Fund Balances 972 16,757 2,626,856
Fund Balances, Beginning of Year 26,097 36,064 7,243,465
Fund Balances, End of Year $ 27,069 $ 52,821 $ 9,870,321 $
72
Special Revenue Funds
Maintenance Districts Total
Dougherty Santa Rim Dublin Street Non-major
Street Stagecoach Landscape Assessment Lighting Governmental
Lighting Landscape & Lighting District 97-1 Assessment Funds
$ 103,108
380,200
9,178,398
920,647
$ 5,913 $ 917 $ 538 $ 4,108 $ 2,574 384,825
134,669
2,597,509
6,501 4,098 262,181
219,921 55,646 85,049 97,537 43,271 501,424
232,335 56,563 89,685 101,645 45,845 14,462,961
23,923
193,926 10,852 763,975
1,170 51,310 86,779 136,206 169 514,256
1,311,783
5,585 2,321 1,815 1,898 2,946 20,565
9,856
36,200
426,096
56,000 8,789,598
256,681 53,631 88,594 138,104 13,967 11,896,252
(24,346) 2,932 1,091 (36,459) 31,878 2,566,709
20
(18,560)
(18,54o)
(24,346) 2,932 1,091 (36,459) 31,878 2,548,169
179,640 32,597 27,227 138,991 65,735 10,203,771
$ 155,294 $ 35,529 $ 28,318 $ 102,532 $ 97,613 $ 12,751,940
73
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
SPECIAL CRIMINAL ACTMTY SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 693 $ 693 $ 733 $ 40
Other revenue 5,000 5,000 1,939 (3,061 )
Total Revenues 5,693 5,693 2,672 (3,021 )
EXPENDITURES
Current:
Public safety 10,500 10,500 5,068 5,432
Total Expenditures 10,500 10;500 5,068 5,432
Net Change in Fund Balance (4,807) (4,807) (2,396) 2,411
Fund Balance, Beginning of Year 24,954 24,954 24,954
Fund Balance, EndofYear $ 20,147 $ 20,147 $ 22,558 $ 2,411
74
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
VEmCLE ABATEMENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 18,300 $ 18,300 $ 18,805 $ 505
Interest 3,304 3,304 3,415 111
Total Revenues 21,604 21,604 22,220 616
OTHER FINANCING USES
Transfers out (15,750) (11,834) 3,916
Total Other Financing Uses (15,750) (11,834) 3,916
Net Change in Fund Balance 21,604 5,854 10,386 4,532
Fund Balance, Beginning of Year 100,166 100,166 100,166
Fund Balance, EndofYear $ 121,770 $ 106,020 $ 110,552 $ 4,532
75
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
SUPPLEMENTAL LAW ENFORCEMENT SPEC/AL REVENUE FUND
FOR TIlE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual POsitive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 100,000 $ 100,000 $ 100,000
Interest 187 187 2,381 $ 2,194
Total Revenues 100,187 100,187 102,381 2,194
EXPENDITURES
Current:
Public safety 100,000 105,302 105,302
Total Expenditures 100,000 105,302 105,302 ~'
Net Change in FUnd Balance 187 (5,115) (2,921) 2,194
Fund Balance, Begirming of Year 3,058 3,058 3,058
Fund'i3alance, End of Year ~.. $ 3,245 $ (2,057) $ 137 $ 2,194
76
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
FEDERAL POLICE GRANT SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 35,000 $ 54,652 $ 54,652
Interest 373 373 1,233 $ 860
Total Revenues 35,373 55,025 55,885 860
EXPENDITURES
Current:
Public safety 55,195 55,909 55,909
Total Expenditures 55,195 55,909 55,909
Net Change in Fund Balance (19,822) (884) (24) 860
Fund Balance, Beginning of Year 36 36 36
Fund Balance, EndofYear $ (19,786) $ (848) $ 12 $ 860
77
CITY OF DUBLIN
SCHEDULE OF REVENUES~ EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
CLEEP GRANT SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 20,549 $ 20,549
Imerest $ 846 $ 846 926 80
Total Revenues 846 846 21,475 20,629
EXPENDITURES
Current:
Public safety 40,032 43,952 43,949 3
Total Expenditures 40,032 43,952 43,949 3
Net Change in Fund Balance (39,186) (43,106) (22,474) 20,632
Fund Balance, Beginn/ng of Year 43,950 43,950 43,950
Fund Balance, End of Year $ 4,764 $ 844 $ 21,476 $ 20,632
78
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
TRAFFIC SAFETY SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 5,837 $ 5,837 $ 5,148 $ (689)
Fines and forfeitures 153,000 153,000 134,669 (18,331)
Total Revenues 158,837 158,837 139,817 (19,020)
EXPENDITURES
Current:
Public safety 140,000 142,989 137,633 5,356
Total Expenditures 140,000 142,989 137,633 5,356
Net Change in Fund Balance 18.837 15,848 2,184 (13,664)
Fund Balance, Beginning of Year 157,410 157,410 157,410
Fund Balance, End of Year $ 176,247 $ 173,258 $ 159,594 $ (13,664)
79
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CItANGES IN FUND BALANCES - BUDGET AND ACTUAL
STATE GAS TAX SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 637,000 $ 637,000 $ 631,720 $ (5,280)
Interest 26,184. 26,184 48,630 22,446
Total Revenues 663,184 663,184 680,350 17,166
EXPENDITURES
Current:
Public safety 5,900 5,900 5,900
Highways and streets 219,619 238,622 238,622
Community development 6,000 6,000 6,000
Capital outlay
Streets 651,283 1,337,955 875,787 462,168
· Total Expenditures 882,802 1,588,477 1,120,409 468,068
Net Change in Fund Balance (219,618) (925,293) (440,059) 485,234
FUnd Balance, Beginning of Year 1,742,087 1,742,087 1,742,087
Fund Balance, EndofYear $ 1,522,469 $ 816,794 $ 1,302,028 $ 485,234
80
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
CDBG SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 71,809 $ 71,809 $ 71,227 $ (582)
Total Revenues 71,809 71,809 71,227 (582)
EXPENDITURES
Current:
Health and welfare 28,427 28,427 28,427
Capital outlay
Community improvement 36,782 36,782 36,200 582
Total Expenditures 65,209 65,209 64,627 582
Excess of Revenues
Over Expenditures 6,600 6,600 6,600
OTHER FINANCING SOURCES (USES)
Transfers out (6,600) (6,600)
Total Other Financing Uses (6,600) (6,600)
Net Change in Fund Balance 6,600
Fund Balance, Beg/nning of Year
Fund Balance, End of Year $ 6,600 $ $ $
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
ISTEA SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget ~
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 116,000 $ 116,000 $ (116,000)
Total Revenues 116,000 116,000 (116,000)
EXPENDITURES
Capital outlay
Streets 116,000 126,379 126,379
Total Expenditures 116,000 126,379 126,379
Net Change in Fund Balance (10,379) 10,379
Fund Balance, Beginning of Year
Fund Balance, End of Year $ - $ (10,379) $ - $ 10,379
82
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
TDA SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 102,770 $ 105,230 $ 103,010 $ (2,220)
Total Revenues 102,770 105,230 103,010 (2,220)
EXPENDITURES
Capital outlay
Streets 102,770 103,010 103,010
Total Expenditures 103,010 103,010
Net Change in Fund Balance 102,770 2,220 (2,220)
Fund Balance, Beginning of Year
Fund Balance, End of Year $ 102,770 $ 2,220 $ - $ (2,220)
83
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
FEMA SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 7,000 $ 7,259 $ 259
Total Revenues 7,000 7,259 259
EXPENDITURES
Current:
Public safety 7,259 7,259
Total Expenditures 7,259 7,259
· Net Change in Fund Balance (259) 259
Fund Balance, Beginning of Year
Fund Balance, End of Year $ $ (259) $ $ 259
84
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
STATE PARK BOND ACT SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 389,628 $ 389,628 $ 389,628
Total Revenues 389,628 389,628 389,628
EXPENDITURES
Capital outlay
Parks 389,628 389,628 389,628
Total Expenditures 389,628 389,628 389,628
Fund Balance, Beginning of Year
Fund Balance, End of Year $ $ $ -$ -
85
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
MEASURE B SALES TAX TRANSPORTATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
.Original Final Amounts (Negative)
REVENUES
Taxes other than property $ 230,000 $ 230,000 $ 293,667 $ 63,667
Interest 5,554 5,554 9,507 3,953
Total Revenues 235,554 235,554 303,174 67,620
EXPENDITURES
Capital outlay
Streets 219,000 219,000 219,000
Total Expenditures 219,000 219,000 219,000
Net Change in Fund Balance 16,554 16,554 84,1_74 67,620
Fund Balance, Beginning of Year 165,747 165,747 165,747
Fund Balance, End of Year $ 182,301 $ 182,301 $ 249,921 $ 67,620
86
CITY OF DUBLIN
SC}tEDULE OF REVENUES, EXPENDITURES AND
CItANGES IN FUND BALANCES - BUDGET AND ACTUAL
STATE TRANSPORTATION IMPROVEMENT SPECIAL REVENUE FUND
FOR TIlE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 2,639,000 $ 8,098,289 $ 7,286,212 $ (812,077)
Total Revenues 2,639,000 8,098,289 7,286,212 (812,077)
EXPENDITURES
Capital outlay
Streets 2,169,000 7,926,326 7,286,212 640,114
Total Expenditures 2,169,000 7,926,326 7,286,212 640,114
Net Change in Fund Balance 470,000 171,963 (171,963)
Fund Balance, Beginning of Year
Fund Balance, End of Year $ 470,000 $ 171,963 $ - $ (171,963)
87
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
TRANSPORTATION FOR CLEAN AIR SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget ~
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 107,000 $ 108,644 $ 67,290 $ (41,354)
Total Revenues 107,000 108,644 67,290 (41,354)
EXPENDITURES
Capital outlay
Streets 107,000 174,290 67,290 107,000
Total Expenditures 107,000 174,290 67,290 107,000
Net Change in Fund Balance (65,646) 65,646
Fund Balance, Beginning of Year
Fund Balance, End of Year $ $ (65,646) $ $ 65,646
88
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
STORM WATER RUNOFF SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Charges for services $ 75 $ 75
Interest 3 3
Total Revenues 78 78
OTHER FINANCING SOURCES (USES)
Transfers out $ (126) (126)
Net Change in Fund Balance (126) (48) 78
FUnd Balance, Beginning of Year $ 75 75 75
Fund Balance, End of Year $ 75 $ (51) $ 27 $ 78
89
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
MEASURE D RECYCLING SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amoums (Negative)
REVENUES
Intergovernmental $ 166,268 $ 166,268 $ 197,415 $ 31,147
Interest 6,217 6,217 7,558 1,341
Other revenue 249,643 249,643
Total Revenues 172,485 172,485 454,616 282,131
EXPENDI~S
Current:
Health and welfare 177,149 177,149 129,816 47,333
Capital outlay
Parks 36,467 36,468 36,468
Total Expenditures 213,616 213,617 166,284 47,333
Net Change in Fund Balance (41,131) (41,132) 288,332 329,464
Fund Balance, Beginning of Year 201,854 201,854 201,854
Fund Balance, End of Year $ 160,723 $ 160,722 $ 490,186 $ 329,464
~ 90
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
GARBAGE SERVICE SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Charges for services $ 885,779 $ 885,779 $ 920,572 $ 34,793
Interest 5,092 5,092
Total Revenues 885,779 885,779 925,664 39,885
EXPENDITURES
Current:
Health and welfare 902,420 933,768 933,768
Total Expenditures 902,420 933,768 933,768
Net Change in Fund Balance (16,641) (47,989) (8,104) 39,885
Fund Balance, Beginning of Year 9,079 9,079 9,079
Fund Balance, End of Year $ (7,562) $ (38,910) $ 975 $ 39,885
91
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
MEASURE B BIKE AND PEDESTRIAN SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
.Original Final Amounts (Negative)
REVENUES
Taxes other than property $ 87,700 $ 87,700 $ 86,533 $ (1,167)
Interest 600 600 643 43
Total Revenues 88,300 88,300 87,176 (1,124)
EXPENDITURES
Capital outlay
Streets , 68,020 90,096 67,738 22,358
Total Expenditures 90,096 67,738 22,358
Net Change in Fund Balance (1',796) 19,438 21,234
Fund Balance, Beginning of Year 5,539 5,539 5,539
Fund Balance, End of Year $ 5,539 $ 3,743 $ 24,977 $ 21,234
92
CITY OF DUBLIN
· SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
CMA GRANT SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 400,000 $ 42,000 $ 41.068 $ (932)
Total Revenues 400,000 42,000 41,068 (932)
EXPENDITURES
Capital outlay
Streets 400,000 42,000 41,068 932
Total Expenditures 400,000 42,000 41,068 932
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year $ $ $ $
93
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
EMS SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENLrES
Property taxes $ 93,610 $ 93,610 $ 103,108 $ 9,498
Intergovernmental 98,685 98,685 101,706 3,021
Interest 235 235
Total Revenues 192,295 192,295 205,049 12,754
EXPENDITURES
Current:
Public Safety 213,873 213,873 204,077 9,796
Total Expenditures 213,873 213,873 204,077 9,796
Net Change in Fund Balance (21,578) (21,578) 972 22,550
Fund Balance, Beginning of Year 26,097 26,097 26,097
Fund Balance, EndofYear $ 4,519 $ 4,519 $ 27,069 $ 22,550
94
CITY OF DUBLIN
SCHED~E OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
TRAFFIC CONGESTION RELIEF SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 99,000 $ 99,000 $ 87,857 $ (11,143)
Interest 1,200 1,200 2,393 1,193
Total Revenues 100,200 100,200 90,250 (9,950)
EXPENDITURES
Capital outlay
Streets 99,000 99,000 73,493 25,507
Total Expenditures 99,000 99,000 73,493 25,507
Net Change in Fund Balance 1,200 1,200 16,757 15,557
Fund Balance, Beginning of Year 36,064 36,064 36,064
Fund Balance, EndofYear $ 37,264 $ 37,264 $ 52,821 $ 15,557
95
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
HOUSING AND NOISE MITIGATION SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 303,519 $ 303,519 $ 282,878 $ (20,641)
Developer fees 1,395,000 1,395,000 2,597,509 1,202,509
Total Revenues 1,698,519 1,698,519 2,880,387 1,181,868
EXPENDITURES
Current:
General government 12,950 23,903 23,903
Health and welfare 214,797 524,797 219,772 305,025
Capital outlay
General 10,000 10,000 9,856 144
Total Expenditures 237,747 558,700 253,531 305,169
Net Change in Fund Balance .~- 1,460,772 1,139,819 2,626,856 1,487,037
Fund Balance, Beginning of Year 7,243,465 7,243,465 7,243,465
Fund Balance, End of Year $ 8,704,237 $ 8,383,284 $ 9,870,321 $ 1,487,037
96
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
DUBLIN INFORMATION INC. SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amoums (Negative)
EXPENDITURES
Current:
General government $ 20 $ 20
Total Expenditures 20 20
OTHER FINANCING SOURCES (USES)
Transfers in 20 $ (20)
Total Other Financing Sources (Uses) 20 20
Net Change in Fund Balance (20) 20
Fund Balance, Beginning of Year
Fund Balance, End of Year $ $ (20) $ $ 20
97
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
STREET LIGHTING SPECIAL REVENUE FUND
FOR TIlE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 4,663 $ 4,663 $ 5,913 $ 1,250
Other revenue 4,000 4,000 6,501 2,501
Special assessments 237,400 237,400 219,921 (17,479)
Total Revenues 246,063 246,063 232,335 (13,728)
EXPENDITURES
Current:
General government
Public safety 223,768 223,768 193,926 29,842
Highways and streets 2,886 2,886 1,170 1,716
Community development 6,250 6,250 5,585 665
Capital outlay
Streets 102,000 102,000 56,000 46,000
Total Expenditures 334,904 334,904 256,681 78,223
Net Change in Fund Balance (88,841) (88,841) (24,346) 64,495
Fund Balance, Beginning of Year 179,640 179,640 179,640
Fund Balance, End of Year $ 90,799 $ 90,799 $ .155,294 $ 64,495
98
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
STAGECOACH LANDSCAPE SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 1,051 $ 1,051 $ 917 $ (134)
Special assessments 54,751 54,751 55,646 895
Total Revenues 55,802 55,802 56,563 761
EXPENDITURES
Current:
Highways and streets 55,276 56,486 51,310 5, t 76
Community development 2,750 2,750 2,321 429
Total Expenditures 58,026 59,236 53,631 5,605
Net Change in Fund Balance (2,224) (3,434) 2,932 6,366
Fund Balance, Beginning of Year 32,597 32,597 32,597
Fund Balance, End of Year $ 30,373 $ 29,163 $ 35,529 $ 6,366
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
DOUGHERTY LANDSCAPE AND LIGHTING SPECIAL REVENUE FUND
FOR TIlE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 1,472 $ 1,472 $ 538 $ (934)
Other revenue 4,098 4,098
Special assessments 84,912 84,912 85,049 137
Total Revenues 86,384 86,384 89,685 3,301
EXPENDITURES
Current:
Highways and streets 84,082 87,276 86,779 497
Community development 2,750 2,750 1,815 935
Total Expenditures 86,832 90,026 88,594 1,432
Net Change in Fund Balance "' (448) (3,642) 1,091 4,733
Fund Balance, Beginning of Year 27,227 27,227 27,227
Fund Balance, End of Year $ 26,779 $ 23,585 $ 28,318 $ 4,733
100
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
SANTA RITA ASSESSMENT DISTRICT 97-1 SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Original Final Amounts (Negative)
REVENUES
Interest $ 4,683 $ 4,683 $ 4,108 $ (575)
Special assessments 115,735 115,735 97,537 (18,198)
Total Revenues 120,418 120,418 101,645 (18,773 )
EXPENDITURES
Current:
Highways and streets 168,739 168,739 136,206 32,533
Community development 1,750 1,898 1,898
Total Expenditures 170,489 170,637 138,104 32,533
Net Change in Fund Balance (50,071) (50,219) (36,459) 13,760
Fund Balance, Beginning of Year 138,991 138,991 138,991
Fund Balance, Endo£Year $ 88,920 $ 88,772 $ 102,532 $ 13,760
101
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
DUBLIN STREET LIGHTING ASSESSMENT SPECIAL REVENUE FUND
FOR THE YEAR ENDED JUNE 30, 2003
Variance with
Final Budget -
BUdgeted Amounts Actual Positive
· Original Final Amounts (Negative)
REVENUES
Interest $ 2,019 $ 2,019 $ 2,574 $ 555
Special assessments 43,566 43,566 43,271 (295)
Total Revenues 45,585 45,585 45,845 260
EXPENDITURES
Current:
Public safety 50,532 50,532 10,852 39,680
Highways and streets 1,366 1,366 16'9 1,197
Community development 2,750 2,947 2,946 1
Total Expenditures ·54,648 54,845 13,967 40,878
Net Change in Fund Balance (9,063) (9,260) 31,878 41,138
Fund Balance, Beginning of Year 65,735 65,735 65,735
Fund Balance, End of Year $ 56,672 $ 56,475 $ 97,613 $ 41,138
102
CITY OF DUBLIN
INTERNAL SERVICE FUNDS
JUNE 30, 2003
Internal Service funds are used to account for the financing of goods or services provided by one departmem or
agency to other departments or agencies of the City on a cost reimbursement basis. The City has established four
of these types of funds: Equipment Replacement, Fire Equipment and Station Replacement, Building
Replacement, and Retiree Health Care.
103
CITY OF DUBLIN
· I~TERNAL SERVICE FUNDS
COMBINING STATEMENT OF NET ASSETS
JUNE 30, 2003
Fire Equipment
Equipment and Station Building
Replacement Replacement Replacement
ASSETS
Current Assets
Cash and investments $ 1,165,069 $ 1,211,636 $ 1,160,137
Receivable:
Accounts 6,230
Total Current Assets 1,171,299 1,211,636 1,160,137
Noncurrent Assets
Land 6,842,037
Construction in progress 3,730,784
Buildings and improvements 41,020,725
Machinery and equipment 1,993,505 2,495,147 428,100
Less: accumulated depreciation (1,102,518) (837,182) (7,304,965)
Total Noncurrent Assets 890,987 1,657,965 44,716,681
Total Assets 2,062,286 2,869,601 45,876,818
LIABILITIES ...~
Current Liabilities
Accounts payable 21,289 8,221
Total Liabilities 21,289 8,221
NET ASSETS
Invested in capital assets 890,987 1,657,965 44,716,681
Unrestricted 1,150,010 1,211,636 1,151,916
TotaINet Assets $ 2,040,997 $ 2,869,601 $ 45,868,597
104
Retiree
Health
Care Total
$ 3,500,726 $ 7,037,568
6,230
3,500,726 7,043,798
6,842,037
3,730,784
41,020,725
4,916,752
(9,244,665)
47,265,633
3,.500,726 54,309,431
17,215 46,725
17,215 46,725
47,265,633
3,483,511 6,997,073
$ 3,483,511 $ 54,262,706
105
CITY OF DUBLIN
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES, AND
CHANGES IN NET ASSETS
FOR THE YEAR ENDED JUNE 30, 2003
Fire Equipment
Equipment and Station Building
Replacement Replacement Replacement
OPERATING REVENUES
Charges for services $ 606,822 $ 164,890 $ 163,060
Other revenue 24,361
Total Operating Revenues 631,183 164,890 163,060
OPERATING EXPENSES
Supplies and services 276,462
Depreciation 548,127 164,341 1,307,325'
Total Operating Expenses 824,589 164,341 1,307,325
Operating Income (Loss) (193,406) 549 (1,144,265)
NONOPERATING REVENUES
Interest income .. 32,502 37,676 34,323
Income (Loss) Before Contributions (160,904) 38,225 (1,109,942)
CONTRIBUTIONS 333,019 598,509 11,676,534
Change in Net Assets 172,115 636,734 10,566,592
Total Net Assets, Beginning of Year 1,868,882 2,232,867 35,302,005
TotalNet Assets, End of Year $ 2,040,997 $ 2,869,601 $ 45,868,597
106
Retiree
Health
Care Total
$ 391,938 $ 1,326,710
24,361
391,938 1,351,071
106,483 382,945
2,019,793
106,483 2,402,738
285,455 (1,051,667)
104,624 209,125
390,079 (842,542)
12,608,062
390,079 11,765,520
3,093,432 42,497,186
$ 3,483,511 $ 54,262,706
107
CITY OF DUBLIN
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2003
Fire Equipment
Equipment and Station Building
Replacement Replacement Replacement
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers $ 626,144 $ 164,890 $ 163,060
Payments to suppliers (286,976) ~
NET CASH PROVIDED BY
OPERATING ACTIVITIES 339,168 164,890 163,060
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Capital asset purchases ~~ (181,893) (81,147)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 32,502 37,676 34,323
NET INCREASE 1N CASH AND
CASH EQUIVALENTS 149,526 20,673 116,236
CASH AND INVESTMENTS, Beginning of Year : 1,015,543 1,190,963 1,043,901
CASH AND INVESTMENTS, End of Year $ 1,165,069 $ 1,211,636 $ 1,160,137
RECONCILIATION OF OPERATING INCOME (LOSS) TO
NET CASH PROVIDED BY OPERATING ACTIVITIES
Operating income (loss) (193,406) 549 (1,144,265)
Adjustments to reconcile operating income
to cash flows from operating activities:
Depreciation 548,127 164,341 1,307,325
Net effect of changes in:
Accounts receivable (5,039)
Accounts payable (10,514)
NET CASH PROVIDED BY
OPERATING ACTIVITIES $ 339,168 $ 164,890 $ 163,060
NONCASH CAPITAL FINANCING ACTIVITIES
Contributed fixed assets $ 333,019 $ 598,509 $ 11,676,534
108
Retiree
Health
Care Total
$ 391,938 $ 1,346,032
(97,491) (384,467)
294,447- 961,565
(485,184)
104,624 209,125
399,071 685,506
3,101,655 -6,352,062
$ 3,500,726 $ 7,037,568
285,455 (1,051,667)
2,019,793
(5,039)
8,992 (1,522)
$ 294,447 $ 961,565
$ 12,608,062
109
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CITY OF DUBLIN
AGENCY FUND
JUNE 30, 2003
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, ordinance or
other regulations.
Dublin Boulevard Extension Assessment District Fund - To account for the special assessment established to
fund the improvements to Dublin Boulevard.
110
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CITY OF DUBLIN
AGENCY FUNDS
STATEMENT OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED JUNE 30, 2003
Balance Balance
July 1, 2002 Additions Deletions June 30, 2003
Dublin Boulevard Extension Assessment District
ASSETS
Cash and investments $ 187,509 $ 1,984 $ 189,493
Restricted cash and investments 170,522 1,790 172,312
Accounts receivable 5,734 5,734
TotalAssets $ 358,031 $ 9,508 $ $ 367,539
LIABILITIES
Due to bondholders $ 358,031 $ 9,508 $ $ 367,539
111
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STATISTICAL SECTION
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CITY OF DUBLIN
GOVERNMENTAL EXPENDITURES ElY FUNCTION
ALL GOVERNMENTAL. FUND TYPES
LAST TEN FISCAL YEARS
Fiscal General Facilities Health and Highways Community Culture and Cap'rtsl
Year . Govemrnen_t Rents Pub~ SaCety Weifare and Streets ,Development Leisure Outlay Princ,i~,.I . Total
1993-1994 $1,389,537 $1,532.816 $ 6.001,166 $ 542.698 $ ,930,936 $1,107,770 $ 1,709,218 $1,118,384 $14.232,525
1994-1995 1,488,844 1.553.744 6,325,219 696,B17 944,564 1.354.796 1.765,990 1,370,902 'J 5,500,876
1995-1996 1,392,265 1,604,480 6,986,737 1.183,933 1,043,009 1,832.754 1,847,110 3,338,607 19.22s,895
1996-t997 1,691,724 1,496,816 6,968,912 7~4,423 1,059,275 1,930,723 2,007.715 2.552.9t2 18,442,500
1997-1998 1,761,818 1.493,348 9,$86,630 764,979 1,090,290 2,824,242 2,172,422 2,219,989 20,893,7t8
1998-1999 2,'t39,758 t,6t4,407 9,145,346 851.699 1,240,171 3,664,025 2,248,581 4,617,733 25.521,700
1999-2000 2,274,914 9,892,983 893,254 1,504.050 4.138,916 2,a27,621 13.052,015 251,004 34,834,757
2000-2001 3,085,725 t0,960,642 1,139,399 1,446,053 ~,572,981 3.332,421 12,077,482 301,004 36,915.70T
2001-2002 3,929,919 12.523,197 1,196,457 1,546,347 4,678,311 4,012.734) 16,405,354 251,004 44.,54.3,319
2002-2003 4.363,24t 13,948,110 1,352,083 6,080,944 5,399,648 4,611.564 29,538,610 65,294,200
Source: City of Dublin Annual Financial Report
Total Expenditures
$70 [] Principal
! Capital Outlay
$60 [] Culture and Leisure
[] Community Development
B Highways and Streets
$50 [] Health and Welfare
[] Public Safety
[] Facilities Rents
$40 [] General Government
$30
$20
$10
$0
Fiscal Years
-112-
CiTY OF DUBLIN
GENERAL GOVERNMENTAL REVENUES BY SOURCE
ALL GOVERNMENTAL FUND I~'PES
LAST TEN FISCAL YEARS
Developer
Property Taxes Fees and
I Special Licenses and Inter- Charges for Use of Money Fines I Ot~er
Fiscal Year Assessments Sales Taxes Other Taxes Permits Governmental Services and Prop~ ~r~y, Revenue Total
1993~1994 $ 4,149,388 $ 5,969,342 $ 752.363 $ 340,995 $ 1,798,037 $ 1,323.196 $ 1,008,044 $ 422,785 $ 15.764.150
1994-199~ 4,307,753 6,470,287 772.630 337,551 2,375,377 1.798,343 1,210,885 648,497 17,921.323
1995-1996 4,185,73t 6,76D,413 1,006,729 468.199 3,674,119 3,596,000 1,376,647 180,130 21,245,968
1996-1997 4,164,884 7,108,598 1,280,578 1.092,183 2,091,210 2,789,236 1,505,788 309,361 20,341.838
1997-1998 4,628,201 8,025,448 1,538,247 1,398,677 2,159.609 4.045,063 1,670,875 598,977 24.065,097
1998-I 999 5,119,268 8,687,091 1,771,602 2,472,217 2,633,035 6,447,928 1,462,691 402,799 28,996,634
1999-2000 6,310,171 11,548,901 2,414,08t 3,897,965 3,056,557 14,378,62~ 1.461,148 965,709 44,033,153
2000.2001 7,558,939 12,985,986 3,199. t97 3,028.655 4,129,090 13,368,815 2,839,891 2,979.2t5 50,089.588
2001-2002 S,317,376 12,813,111 2.837.678 2,327,251 4,702,126 25.015,733 3,829,352 793,930 61.636.557
2002-2003 10,644,074 13,193,407 2,871,325 2,421.885 11,412,577 15.876,467 2,548,478 947.179 60.215.392
Source: City of Dublin Annual Financial Report
Total Revenues
$70
m Fines / Other Revenue
$60 [] Use of Money and
Property
$50 r~ Developer Fees and
Charges for Services
l~l Inter-Governmental
$40
[] Licenses and Permits
$30
[] Other Taxes
$20
lB Sales Taxes
$10 [] Property Taxes /
Special Assessments
S-
Fiscal Years
-113-
CITY OF DUBUN
ASSESSED VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Utility State Unsecured
Fiscal Year Sec~, red Property Board Roll , Property: Total
1993:1994 $1,400,427,455 $ 4,536,700 $ 97,399,163 $1,502,363,318
1994-1995 1,426,206,284 4,497,120 97,359,845 1,528,063,249
1995-1996 1,434,712,474 4,024,540 94,522,217 1,533,259,231
1996-1997 1,519,119,484 4,028,118 115,801,947 1,638,949,549
1997-1998 1,565,651,517 2,395,606 114,868,090 1,682,915,213
1998-1999 1,782,911,790 2,395,606 115,129,665 1,900,437,061
1999-2000 2,220,043,442 2,395,606 131,207,312 2,353,646,360
2000-2001 2,869,933,657 2,636,107 132,417,225 3,004,986,989
2001-2002 3,566,460,426 2,636,107 155, 881,185 3,724,977,718
2002-2003 4,137,814,381 1,016,256 169,574,548 4,308,405,185
Soume: Alameda County Office of the Auditor-Controller
(All figures shown are net of exemptions.)
Assessed Value of Taxable Property
$5.0
$4.5
$4.0
~' $3.5
~n $3.0
~ $2.5
E $2.0
~ $1.5
$1.0
$O.5
$0.0
Fiscal Years
-114-
CITY OF DUBLIN
PROPERTY TAX 'RATES
ALL DIRECT AND OVERLAPPING GOVERNMENTS
LAST TEN FISCAL YEARS
Dublin
Basic San
County Bay Area East Bay Ramon Alameda Total Rate
Fiscal Wide Levy School Flood Zone Rapid Parks Services County Per $1000
Y,e,a,r , (,$1/$100) Districts State B_ .ond_..[s Transt Bond District Library Valuation
1993-1994 1.0000 0,0717 0.0182 0.0240 0.0069 * 0.0060 1.t268
1994-1995 t.0000 0.0799 0,0166 0.0235 0,0066 * 0.0057 1.1323
1995.1996 1.0000 0.0648 0.0191 0.0230 0,0094 * 0.0057 t.1220
1996-1997 1.0000 Q.0858 0,0187 0.0225 0.0080 * 0,0056 1.1406
1997-1998 1.0000 0.0831 0.0178 0.0220 0.0081 * 0.0049 1.1359
19{)6-1999 1.13000 0,0727 0.0163 0.0167 0.0092 * 0.0057 1.1206
19992000 1.0000 0.0534 0,0145 0,0065 * 1.0744
2000-2001 1.0000 0,0534 0.0145 0.0065 * 1.0744
2001-2002 1.0000 0.0376 0,0158 0,0065 * 1.0590
2002-2003 1.0000 0,0429 0,0145 0.0057 * 1.0631
Source: Alameda County Office of The Auditor-Controller
Rates Shown for Tax Code Area 26-001 which represents the largest portion of property taxes
collected in the City.
· No longer assessed, bonded debt fully repaid.
Property Tax Rates
$1.16
~- $1.14
--= $1.12
$1.40
$1.08
$1.06
$1.04
$1 ,o2
$1 .oo
Fiscal Year
-t15-
CITY OF DUBLIN
COMPUTATION OF LEGAL DEBT MARGIN
June 30, 2003
Assessed valuation:
Assessed value $ 4,308,405,185
Add back exempt real property $ 70,891,008
Total Assessed Value . $ 4,379,296,193
Legal debt margin:
Debt limitation - 15 percent of total assessed value $ 656,894,429
Percent of debt limit authorized and issued 0.00%
Source: City of Dublin Finance Department
Excludes 1915 Act Bonds since they are not
General Obligation Debt of the City of Dublin.
-116-
CITY OF DUBLIN
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
June 30, 2803
Percentage Net Debt
Applicable to Outstanding
City of Appracable to
pu~n ....... City of Dublin
Jurisdiction
OVERLAPPING TAX AND ASSESSMENT
Dublin Joint Unified School Distri~ 99.860% $ 38,833,759
Castro Valley UnlC'~ed School District 0.0820% $ 2S,497
Liverrnore Veiny Joint Unified School Distrk~ 0.0002% $ 17,234
East Bay Regional Park District 2.1970% $ 3,525,746
C~y of Duain ~ ~15 Act Bonds
TOTAL OVERLAPPiNG TAX AND ASSESSMENT DEBT $ 43,985,236
~IRECT AND OVERLAPPING GENERAL FUN[30BIJGATION DEBT:
Alameda County General Fund Ob~ns 3.677% $ 20,231,369
Alameda C¢~unty Pension Ob~gation$ 3.677% $ 14,895,828
Alameda County Superintendent of Schools Certificates of Participation 3.677% $ tl 7,480
Aiameda- Contra COsta Transit District Certificates of Participation 0.003% $ 669
Chabot-Las Pesltes Community College Dts'EIct Certificates of Pefficipatlen 8.053% $ 763,022
Castro Valley Unified School Dlst~cl Certificates of Participation 0,082% $ IT8~,
TOTAL DIRECT AND OVERLAPPING GENERAL FUND OBLIGATION DEBT $ 36,010,197
COMBINED TOTAL DEBT $ 79,975,433
Rati~ tO~ Vsluatlon:
Total Overlapping Tax end Assessment Debt. 1.01
Combined Total Debt 2.08%
STATE SCHOOL BUILDING AID REPAYABLE AS O~ 6/30/2003: $0
(1) Excludes tax and revenue anticipation notes; revenue, mortgage revenue and tax allocation bonds, end non-
bonded capital lease obligations.
Source: California Municipal Statistic, s, Inc.
Direct and Overlapping Debt
Alameda
County School Districts
44% 50%
City of Dublin ~
2% Other Districts
4%
-117-
CITY OF DUBLIN
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
City Rank in
Alameda Population Size of
Fiscal City County % of California
Year Population . Population... County .. Cities
1993-1994 26~270 1,347,930 1.95% 225
1994-1995 26,581 1,362,893 1.95% 228
1995-1996 26,267 1,356,102 1.94% 226
1996-1997 25,544 1,371,793 1.86% 225
1997-1998 26,725 1,401,227 1.91% 224
1998-1999 28,707 1,433,309 2.00% 222
1999-2000 32,519 1,434, t 62 2.32% 205
2000-2001 32,570 1,474,143 2.21% 209
2001-2002 33,520 1,486,618 2.25% 209
200242003 35,545 1,496,218 2.38% 204
Source: State of California Department of Finance - Population Research Unit
Note: The City's Population for Fiscal Year 1999-2000 was adjusted downward based upon the 2000 U.S. Census
City Population
38,000
36,000
34,000
Ne 32,000
~ 30,000
'5 28,000
~.. 26,000
24,000
22,000
20,000
Fiscal Year
-1t8-
CITY OF DUBLIN
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
LAST TEN FISCAL YEARS
Total
Number of Commercial Residential
Fiscal Permits Construction Construction
Year Issued Value Value Ba.nk Deposits *
1993-1994 721 8,162,579 3,490,667 555,554,000
1994-1995 739 6,718,045 2,368,943 549,989,000
1995-1996 814 4,927,911 15,638,274 568,924,000
1996-1997 790 6,855,980 64,610,527 611,507,000
1997-1998 1020 29,159,270 83,205, t53 641,921,000
1998-1999 1552 93,428,185 135,438,240 684,749,000
1999-2000 2521 107,242;721 180,258,804 715,313,000
2000-2001 1828 113,618,557 155,286,401 809,281,000
2001-2002 I 015 63,476,079 123,149,627 900,670,000
2002-2003 1157 46,448,163 178,361,169 Not Available
Source: Findley Reports, Inc. and City of Dublin Building Department Status Reports
· Bank Deposits represents the amount of cash deposits held by financial institutions
within the City of Dublin.
Property Value - Commercial vs Residential
$200
$150 · Commercial
~ Residential
$100
$50
$0
Fiscal Year
-119-
CITY OF DUBLIN
SCHEDULE OF 1993 CERTIFICATES OF PARTICIPATION COVERAGE
FISCAL YEARS ENDED 1994-1999
Debt Service Requirement
Direct
Operating Net Revenue
Fiscal Gross Expenses Available for
Year Revenue (1) (2) Debt Service Principal Interest (3) Total Coverage
1993-1994 $1,564,715 $ 12,874 $1,551,841 $910,000 $ 622,816 $1,532,816 101.24%
1994-1995 1,565,843 18,821 1,547,022 645,000 908~ 744 1,553,744 99.57%
1995-1996 1,594,060 18,518 1,575,542 705,000 916,027 1,621,027 99.70%
1996-1997 1,592,322 4,211 1,588 111 730,000 887,518 1,617,518 98.18%
1997-1998 1,598,447 8,385 1,590,062 765,000 856,351 1,621,351 98.07%
1998-1999 1,671,633 518 1,671,115 920,000 935,707 1,855,707 90.05%
(1) Gross Revenue includes Facilities Rent and Interest Income.
(2) Direct Operating Expenses excludes Interest and Depreciation.
(3) Excludes Amortization of Bond Discount.
Source: City of Dublin Annual Financial Report
Note: Available reserves from the General Fund were used to retire the remaining $13,850,000 outstanding on this
bond issue on February 1, 1999.
-120-
CITY OF DUBLIN
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
Percent of
Total Total Tax
Fiscal Property TaX Property Tax Collected to
Year Levied Collected Tax Levied
1993-1994 3,735,472 3,632,944 97.26%
1994-1995 3,836,151 3,614,558 94.22%
1995-1996 3,833,915 3,614,671 94.28%
1996-1997 3,921,703 3,713,665 94.70%
1997-1998 4,184,413 '4,074,407 97.37%
1998-1999 4,798,501 4,517,234 94.14%
1999-2000 5,765,531 5,499,897 95.39%
2000-2001 7,333,215 6,959,769 94.91%
2001-2002 9,187,641 8,655,872 94.21%
2002-2003 10,732,663 10,1'42,650 94.50%
Source: HDL Coren & Cone and
Alameda County Office of the Auditor-Controller
Property Tax Collection
$11
$10
... $9
== $6
$3
Fiscal Year
-121-
CITY OF DUBLIN
PRINCIPAL PROPERTY TAXPAYERS
(Based on Secured 2002/2003 Tax Roll)
JUNE 30, 2003
Percent of Total
Taxpayer , Assessed Valu? Assessed Value ,
1 DCA Corporate Center LLC $108,265,000 2.47%
2 Toll Dublin LLC 86,700,000 1.98%
3 Bere Island Properties i LLC, Et. Al. 73,528,320 1~68%
4 Acre Dublin LLC 72,755,822 1.66%
5 Security Capital Pacific Trust 61,056,814 1.39%
6 Chang S. Lin, Et. Al. 57,479,101 1.31%
7 Rreef America Reit Corporation Y 50,022,952 1.14%
8 CSDV Limited Partnership 47,532,000 1.09%
9 Park Sierra LLC 45,876,227 1.05%
10 Shea Homes Limited Partnership 40,073,491 0.92%
$643,289,727 14.69%
Source: HDL Coren & Cone, Alameda County Assessor Combined Tax Rolls
Top Ten Property Taxpayers Assessed Value
Secudty Capital Pacific
Trust
$61,056,814
Acre Dublin LLC Chang S. Lin, Et. Al. Rreef America Reit
$72,755,822 ~' $57,479,101 /-- Corporation Y
~ / $50,022,952
CSDV Limited
Partnership
$47,532,000
Park Sierra LLC
Bere Island Properties I $45,876,227
LLC, Et. Al. ~
$73,528,320 I / ~[
Toll Dublin LLC Shea Homes Limited
$86,700,000 DCA Corporate Center Partnership
LLC $40,073.491
$108,265,000
-122-
CITY OF DUBLIN
TOP 25 SALES TAX PRODUCERS
2002-2003
BUSINESS NAME BUSINESS C,,ATEGOR¥
Agorra Building Supply Lumber/Building Materials
Alameda County Auction Used Automotive Dealers
Bed Bath & Beyond Home Furnishings
Best Buy Radio/Appliance Stores
Cai Steam East Bay Plumbing/Electrical Supplies
Circuit City Radio/Appliance Stores
Crown Chevrolet/Olds/Cadillac/Isuzu New Motor Vehicle Dealers
Dublin Dodge/Nissan/Volkswagen/Hyundai New Motor Vehicle Dealers
Dublin Honda New Motor Vehicle Dealers
Dublin Toyota New Motor Vehicle Dealers
Expanets Office Supplies/Furniture
Expo Design Center Lumber/Building Materials
Good Guys Radio/Appliance Stores
Mervyn's Department Stores
Micro Porcelain Dental Lab Health Services
Old Navy Clothing Family Apparel
Safeway Grocery Stores Liquor
Safeway Gas Sales Service Stations
Shamrock Ford New Motor Vehicle Dealers
Stoneridge Motors New Motor Vehicle Dealers
Sybase Office Equipment
T J Maxx " Family Apparel
Target Discount Department Stores
Toys R Us Specialty Stores
Tri Valley Buick Pontiac GMC New Motor Vehicle Dealers
Percent of Total City Sales Tax Paid By Top 25 Accounts = 60.21%
Firms Listed Alphabetically
Period: April 2002 thru March 2003
Source: Hinderllter, de Llamas and Associates, State Board of Equalization
Sales Taxes
~ $5
Fiscal Year
-123-
4
CITY OF DUBLIN
MISCELLANEOUS STATISTICAL DATA
June 30, 2003
GENERAL: FIRE PROTECTION:
Date of Incorporation February 1982 Number of Stations 3
IForm of Government Council/Manager Number of Fire Personnel 40
Employees (City and Contract) 193 Population 35,345
Area (Sq. Miles) 14.01 POLICE PROTECTION:
Miles of Streets 81.9 Number of Stations 1
Miles of Curbs 191 Number of Police Personnel 54
ISignalized Intersections 53
Number of Street Lights 3,000
PARKS AND RECREATION: COMMUNITY FACILITIES:
Parks 14 Dublin Civic Center
Acres in Parks 106.4 Dublin Senior Center
Acres in Open Space 122 Shannon Community Center
Dublin Swim Center
Number of Registered Voters 13,235 Heritage Center
(As of November 2002) Dublin Library
EDUCATION:
I. Public
3 Elementary Schools 5
Middle School 1
High School 1
IContinuation High School 1
II. Public School Enrollment- 4,495
(As of October 2003)
1
1
-124-