HomeMy WebLinkAboutItem 4.11 CAFR and Annual Audit Report or
19 82 STAFF REPORT CITY CLERK
CITY COUNCIL File #310-30
DATE: December 16, 2014
TO: Honorable Mayor and City Councilmembers
FROM: Christopher L. Foss, City Manager "
SUBJECT: Comprehensive Annual Financial Report (CAFR) and Annual Audit for Fiscal
Year Ending June 30, 2014 and Supplemental Reports Completed by the
Auditors
Prepared by Colleen Tribby, Director of Administrative Services
EXECUTIVE SUMMARY:
The City of Dublin has compiled and published its Comprehensive Annual Financial Report
(CAFR) for the fiscal year ending June 30, 2014. This report includes financial statements
prepared by City Staff along with the audit prepared by Maze and Associates Accountancy
Corporation (Maze), the independent auditors selected by the City Council. The CAFR is a
report which encompasses information beyond minimum financial reporting requirements. The
Auditors have provided a "clean opinion" based on their review. The report has also been
reviewed by the City Council ad-hoc Audit Subcommittee. The Auditors have also completed
the following three supplemental reports: 1) A compliance audit of Alameda County
Transportation Measure B Funds; 2) A compliance audit of the Alameda County Transportation
Commission Vehicle Registration Fund (ACTC-VRF) Program; and 3) A review of the Annual
Appropriations Limit Calculation.
FINANCIAL IMPACT:
Detailed financial information is summarized in this staff report, and Attachment 1 provides a
guide to key information found in the CAFR. The full CAFR is included as Attachment 2.
RECOMMENDATION:
Staff recommends that the City Council receive and file the reports.
r
Submitted By \ Reviewed By
Administrative Services Director Assistant City Manager
DESCRIPTION:
The City of Dublin has compiled and published its CAFR for the Fiscal Year ending June 30,
2014. The CAFR (Attachment 2) includes audited financial statements reviewed by Maze and
Associates Accountancy Corporation (Maze), the independent auditor selected by the City
Council, and concludes the third year of audit services under a five-year agreement approved by
the City Council on April 17, 2012.
Page 1 of 5 ITEM NO. 4.11
On December 4, 2014, the auditors met with the City Council ad-hoc Audit Committee, (Vice
Mayor Gupta and Councilmember Hart) to review the results of the audit. The interaction of the
auditors directly with representatives of the elected body is a key component to audit standards,
and provides committee members an opportunity to discuss the report and ask questions of the
auditors. The Committee recommends acceptance of the report by the City Council.
Overall, based on their testing and review, the auditors granted the City a "clean opinion" (see
Attachment 1, pages 1 - 3), meaning that the City's financial statements present fairly, in all
material respects, the financial position of the City.
Financial Overview
Attachment 1 provides a guide to key elements contained in the CAFR. Some of the important
financial results include:
Increased Total Net Assets - Net assets increased by $19.9 million, as shown in Table 1 below.
This change is on an entity-wide basis, and includes both capital assets as well as restricted
funds. Included in the Management Discussion and Analysis section of the CAFR is a
discussion of the changes in Net Assets (See Attachment 1, CAFR pages 5 - 20). It is important
to note that the amount reported as Total Net Assets includes:
1) $445.5 million (73.7% of total assets) in investments in capital assets (e.g. land,
infrastructure, buildings, and equipment). These are not assets that are available for
future spending.
2) $60.8 million (10.1% of the total assets) are assets subject to external restrictions on
how they can be used, such as development impact fee funds.
TABLE 1:SIJP' IMA tY OF NET POSITION
June 30,2D14and 2013
Governmental Activities
pi l �iL .o- 'S E;58. 72 :2.4 ',373 3,25 _C,9 a,u
"Total assets 528,752,155 607,749,809 21,002,376 3.5?"1w
3"_L.1 1, L,n,. J;ill'...$I V.1 .S., ..7,,, '.. µ.Vi a.,d c.w' ..9, 1,",9 9,2
1C 0C 8j
Total Liabilities 24,496,421 23,394,520 1,101,801 4.7 511,
."9'C[ '`C"":f ' c^;.I .e.9ll Ss�". "'S,;20 "x'1,6 43 .72. ,32' .- .�v��.^�-**'.*v' 3,Li ,.
9 7 9..8,35 3 9 9,03 ,.7 17.� (.. .�`5._".:_3
1assi'l 1«C',1'"u
"Total net assets E04,25S,764 584,3SS,189 19,900,575 3.4$6
Page 2 of 5
Memorandum on Internal Control (MOIC) (Attachment 3)
The professional standards adhered to by the Auditors require them to record a formal process
of communicating directly with the City Council. As part of the FY 2013-14 CAFR process, the
auditors met with the ad-hoc City Council Committee at the start of their field testing as well as
at the conclusion of the audit to review the final report. The MOIC to the City Council is included
as Attachment 3.
The MOIC contains a description of new GASB requirements implemented by the City during
the audit year, upcoming GASB requirements that are not yet effective, and discusses the status
of prior-year audit recommendations. The report also contained recommendations on certain
process improvements, which the City has addressed:
1) Timeliness of updating bank signature cards - the City has incorporated this item in its
internal on-boarding and off-boarding procedures, to ensure all staff authorizations
are current.
2) Standardization of payroll register review - the City has updated the payroll review
process to include a standardized signature stamp which the payroll reviewer uses to
indicate that a formal review has taken place.
Designations of Fund Balances
On June 4, 2013, the City Council adopted Resolution No. 92-13 which amended the policy for
the establishment of reserves and created the Fund Balance and Reserves Policy. This policy
conforms to required standards enacted by the Governmental Accounting Standards Board
(GASB). A listing of the FY 2013-14 year-end reserves established in accordance with this
policy is shown on CAFR page 62 (Attachment 2). The following table summarizes the fund
balances for all City funds:
TABLE 2:GOVERNMENTAL FUND BALANCE CHANGES
June 30,2014 and 2013
June 30, 2014 June 30, 2013 $Change %Change
General Fund 79,577,762 77,317,129 2,260,633 2.9%
Affordable Housing Fund 10,064,299 7,013,816 3,050,483 43.5%
Capital Improvement Funds 41,339,587 37,433,821 3,905,766 10.4%
Other Governmental Funds 9,403,895 8,100,458 1,303,437 16.1%
Total Governmental Funds 140,385,543 129,865,224 10,520,319 8.1%
As shown above, General Fund Reserves totaled $79.6 million as of June 30, 2014. $13.3
million of that is available for cash flow purposes, equating to 2.7 months of budgeted operating
expenditures in FY 2014-15. This is in accordance with the City policy, which sets the cash flow
goal at between two and four months of the budget.
The Unassigned fund balance of negative $923,409 represents the General Fund advance to
the Fire Impact Fee Fund ($901,908) and a small remaining negative balance in the Streets
Capital Improvement Fund ($21,501) related to the timing of fund transfers.
Page 3 of 5
Additional Reports Prepared by Auditors
In addition to the audit of the financial statements, the auditor engagement included the
completion of specialized reports. The three supplemental reports include: 1) A compliance
audit of Alameda County Transportation Measure B Funds; 2) A compliance audit for the
Alameda County Transportation Commission Vehicle Registration Fee (ACTC-VRF) Program;
and 3) A review of the Annual Appropriations Limit Calculation. The City did not meet the
threshold of $500,000 in expenditures of federal funds in FY 2013-14, and therefore was not
required to complete a Federal Grant— Single Audit Report.
Alameda County Transportation Commission (ACTC) — Measure B Funds Report
(Attachment 4):
The Alameda County Transportation Commission provides local funding via two local programs:
1) Local Street Improvements; and 2) Bicycle and Pedestrian Improvements. During FY 2013-
14, the following projects were funded by Measure B-
1) Bicycle Master Plan Program Implementation and update of 2007 Bikeway and
Pedestrian Master Plan;
2) Golden Gate (West Dublin BART Improvements); and
3) Street Overlay Program.
The report found that, based on the information reviewed and presented, the expenditures were
materially in compliance with the program requirements.
As of the Fiscal Year end, the Local Streets fund balance of $816,319 is assigned to a Capital
Reserve for the Golden Gate Drive Project and the Streets Overlay Projects, and the Bike /
Pedestrian fund balance of$52,780 is restricted to the appropriate related improvements.
Alameda County Transportation Commission — Vehicle Registration Fee Report
(Attachment 5):
The City of Dublin uses a Special Revenue Fund to account for the funds collected through the
ACTC's Vehicle Registration Fee. The goal of the program is to sustain the County's
transportation network through a distribution of the funds throughout the County on successive
five-year cycles.
As of June 30, 2014, the ACTC VRF fund had a balance of $94,086 in restricted funds. The FY
2013-14 Budget appropriated funds from this source to support a portion of the maintenance
costs for citywide traffic signals upgrades.
Appropriation Limit Schedule Report (Attachment 6):
State law requires the adoption of an Appropriations Limit ("Limit") which must be included in the
budget document. The City Council adopts the Limit by resolution and it is adjusted annually
based on factors establish in State Law. The Limit applies only to appropriations that are
funded by "proceeds of taxes". The Limit for the City of Dublin is substantially more than the
amount of revenue generated from taxes. The auditors reviewed the calculation used to
develop the $247,143,137 Limit as presented in the FY 2014-15 Budget. No exceptions were
noted in the findings.
Page 4 of 5
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
There are no special noticing requirements. A copy of the report was sent to Katherine Yuen,
Partner at Maze and Associates.
ATTACHMENTS: 1. Summary — Key Information Comprehensive Annual Financial
Report for the Year Ended June 30, 2014.
2. City of Dublin Comprehensive Annual Financial Report— Fiscal Year
2013-14
3. Memorandum on Internal Control and Required Communications for
the Year Ended June 30, 2014
4. Alameda County Transportation Commission Measure B Funds
(Street and Bicycle — Pedestrian) Report
5. Alameda County Transportation Vehicle Registration Funds (VRF)
Report
6. Appropriation Limit Schedule Report
Page 5 of 5
SUMMARY— KEY INFORMATION
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDING JUNE 30, 2014
City Council Meeting December 16, 2014
1. Includes audited financial statements reviewed by Maze and Associates Accountancy
Corporation (Maze).
2. The auditors issued a "Clean Opinion", which means that the City's financial
statements fairly represent the City's financial position.
3. The CAFR format will allow the City to apply for a Certificate of Achievement from the
Government Finance Officers Association (GFOA). The goal is to provide financial
information of the highest quality, in a transparent manner.
4. ORGANIZATION OF DRAFT REPORT:
a. Transmittal letter (pages v - x): provides a general overview of economic and
budgetary factors that impact the City.
b. Opinion issued by the Independent Auditor (pages 1 - 3).
c. Management Discussion and Analysis (MD&A) (pages 5 — 20): provides an
overview of the financial activities, with a focus on significant trends, as well as
major changes associated with the City's major funds (i.e. General Fund and
Impact Fee funds).
d. Financial Statements: a significant portion of the CAFR is comprised of financial
statements and schedules for the various funds used to account for the City's
revenue and expenditures. Pages 23-25 present a Government-Wide
Statement of Net Position which is similar to financial statements presented by
private corporations.
e. Statistical Section (pages 149-179): the unaudited statistical section of the
CAFR includes graphs of relevant historical data.
5. Fund Equity - A complete listing of both fund reserves and designations for all funds is
shown on page 62 of the report.
6. Audit Recommendations / Disclosures - As part of the Audit Review the independent
auditors can present recommendations for consideration by the City. The process
allows the Auditors to disclose their observations on certain practices and policies. As
part of the recommendations the Auditors also note the upcoming government
accounting standard changes. This information is presented as a separate document
"Memorandum on Internal Control and Required Communications for the year ended
June 30, 2014".
Page 1 of 1
Attachment 2
CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
AND
REQUIRED COMMUNICATIONS
FOR THE YEAR ENDED
JUNE 30,2014
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CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
AND
REQUIRED COMMUNICATIONS
For the Year Ended June 30,2014
Table of Contents
P, age
Memorandum on Internal Control....................................................................................................l
Scheduleof Other Matters........................................................................................................3
RequiredCommunications................................................................................................................7
SignificantAudit Findings.......................................................................................................7
AccountingPolicies............................................................................................................7
Unusual Transactions, Controversial or Emerging Areas................................................7
Estimates.............................................................................................................................7
Disclosures.........................................................................................................................8
Difficulties Encountered in Performing the Audit.............................................................8
Corrected and Uncorrected Alisstatements.......................................................................8
Disagreements with Management......................................................................................8
Management Representations............................................................................................8
Management Consultations with Other Independent Accountants................................8
Other Audit Findings and Issues.......................................................................................8
Other Information Accompanying the Financial Statements................................................9
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F/
MAZE
& ASSOCIATES
MEMORANDUM ON INTERNAL CONTROL
To the City Council of
the City of Dublin, California
In planning and performing our audit of the basic financial statements of the City of Dublin, in
accordance with auditing standards generally accepted in the United States of America,we considered the
City's internal control over financial reporting (internal control) as a basis for designing our auditing
procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the
financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's
internal control. Accordingly, we do not express an opinion on the effectiveness of the City's internal
control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination
of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement
of the City's financial statements will not be prevented, or detected and corrected on a timely basis.
Our consideration of internal control was for the limited purpose described in the first paragraph and was
not designed to identify all deficiencies in internal control that might be material weaknesses. In addition,
because of inherent limitations in internal control, including the possibility of management override of
controls,misstatements due to error or fraud may occur and not be detected by such controls. Given these
limitations, during our audit we did not identify any deficiencies in internal control that we consider to be
material weaknesses. However,material weaknesses may exist that have not been identified.
Included in the Schedule of Other Matters are recommendations not meeting the above definitions that we
believe to be of potential benefit to the City.
The City's written responses included in this report have not been subjected to the audit procedures
applied in the audit of the financial statements and, accordingly,we express no opinion on them.
This communication is intended solely for the information and use of management, City Council, others
within the organization, and agencies and pass-through entities requiring compliance with Government
Auditing Standards, and is not intended to be and should not be used by anyone other than these specified
parties.
4 Mt4
Pleasant Hill,California
November 21,2014
T 925.930.0902
Accountancy Corporation F 925.930.0135
3478 Buskirk Avenue,Suite 215 E maze @mazeassociates.com
Pleasant Hill,CA 94523 1 w mazeassociates.com
This Page Left Intentionally Blank
CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
SCHEDULE OF OTHER MATTERS
2014-01: Bank Signature Cards
Criteria: Signature cards for the bank and investment accounts should be updated immediately after
there is a change in authorized signers.
Condition: During our examination of the City's signature cards,we found that the former City Manager
(departed in April 2014)was still listed as an authorized signer for the City's investments accounts as of
June 24,2014.
Effect: Keeping ex-employees as authorized signers on the City's investment accounts exposes the City
to the risk of misappropriation of City's assets
Cause: The City delayed the update of the signature cards until after the former Finance Manager left the
City on June 12,2014 so that all changes would be reflected on the new signature cards.
Recommendation: We recommend that the City review all of its signature cards immediately to ensure
that all authorized signers are current. In addition, a step should be added to the employee departure
checklist to ensure that outside parties (such as banks, investment advisors, bond trustees) are informed
that the departed employee no longer represents the City immediately after the departure occurs.
Management Response: The City has updated all signature cards with current and appropriate staffmg.
Controlling signature cards has been added to the Administrative Services Department's portion of the
City's internal on/off-boarding process to ensure that timely changes are made to signature cards in the
future.
2014-02: Review of Payroll Registers
Criteria: Monitoring is an important component for internal control structure as it involves evaluating
the effectiveness of controls on an ongoing basis and taking remedial actions when necessary.
Condition: As part of the City's internal control procedures, until her departure, the Finance Manager
was responsible for reviewing the payroll registers after each payroll run. During our audit,we selected
three payroll registers and found that two of them (for the pay periods ending January 10,2014 and May
16,2014)had no indication of review.
Effect: Without physical evidence of the review, the City cannot monitor the effectiveness of such
control procedure.
Cause: We were unable to determine the cause of this issue as the Finance Manager has since departed
the City.
Recommendation: To demonstrate that good internal controls are in place in the City,the employee who
reviews the payroll register should sign or initial on the face of the document to denote a review has taken
place.
Management Response: The Administrative Services Department has implemented a procedure by
which the payroll reviewer stamps and signs, in the same location, the bi-weekly payroll report. This
action now serves as the formal review and approval of payroll.
3
CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
SCHEDULE OF OTHER MATTERS
NEW GASB PRONOUNCEMENTS OR PRONOUNCEMENTS NOT YET EFFECTIVE
The following comment represents new pronouncements taking affect in fiscal year 2014-15. We have
cited them here to keep you abreast of developments:
GASB 68-Accounting and Financial Reporting for Pensions (an amendment of GASB 27)
This Statement will have material impact on the City's financial statements. The primary objective of this
Statement is to improve accounting and financial reporting by state and local governments for pensions.
This Statement establishes standards for measuring and recognizing liabilities, deferred outflows of
resources, and deferred inflows of resources, and expense/expenditures. For defined benefit pensions,this
Statement identifies the methods and assumptions that should be used to project benefit payments,
discount projected benefit payments to their actuarial present value, and attribute that present value to
periods of employee service.
In financial statements prepared using the economic resources measurement focus and accrual basis of
accounting, a single or agent employer that does not have a special funding situation is required to
recognize a liability equal to the net pension liability. The net pension liability is required to be measured
as of a date no earlier than the end of the employer's prior fiscal year(the measurement date), consistently
applied from period to period.
Note disclosure and required supplementary information requirements about pensions also are addressed.
Distinctions are made regarding the particular requirements for employers based on the number of
employers whose employees are provided with pensions through the pension plan and whether pension
obligations and pension plan assets are shared.
The following are the major impacts:
• This Statement requires the liability of employers and nonemployer contributing entities to
employees for defined benefit pensions net pension liability)to be measured as the portion of
the present value of projected benefit payments to be provided through the pension plan to current
active and inactive employees that is attributed to those employees' past periods of service total
pension liability),less the amount of the pension plan's fiduciary net position.
• Actuarial valuations of the total pension liability are required to be performed at least every two
years, with more frequent valuations encouraged. If a valuation is not performed as of the
measurement date,the total pension liability is required to be based on update procedures to roll
forward amounts from an earlier actuarial valuation (performed as of a date no more than 30
months and 1 dayprior to the employer's most recent year-end).
• The actuarial present value of projected benefit payments is required to be attributed to periods of
employee service using the entry age actuarial cost method with each period's service cost
determined as a level percentage of pay. The actuarial present value is required to be attributed
for each employee individually, from the period when the employee first accrues pensions
through the period when the employee retires.
4
CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
SCHEDULE OF OTHER MATTERS
GASB 69–Government Combinations and Disposals of Government Operations
This Statement establishes accounting and financial reporting standards related to government
combinations and disposals of government operations. As used in this Statement, the term government
combinations includes a variety of transactions referred to as mergers, acquisitions, and transfers of
operations.
GASB 71 - Pension Transition for Contributions Made Subsequent to the Measurement Date—an
amendment of GASB Statement No. 68
The objective of this Statement is to address an issue regarding application of the transition provisions of
Statement No. 68, Accounting and Financial Reporting for Pensions. The issue relates to amounts
associated with contributions, if any, made by a state or local government employer or non-employer
contributing entity to a defined benefit pension plan after the measurement date of the government's
beginning net pension liability.
Statement 68 requires a state or local government employer (or non-employer contributing entity in a
special funding situation) to recognize a net pension liability measured as of a date (the measurement
date) no earlier than the end of its prior fiscal year. If a state or local government employer or non-
employer contributing entity makes a contribution to a defined benefit pension plan between the
measurement date of the reported net pension liability and the end of the government's reporting period,
Statement 68 requires that the government recognize its contribution as a deferred outflow of resources.
In addition, Statement 68 requires recognition of deferred outflows of resources and deferred inflows of
resources for changes in the net pension liability of a state or local government employer or non-employer
contributing entity that arise from other types of events.At transition to Statement 68,if it is not practical
for an employer or non-employer contributing entity to determine the amounts of all deferred outflows of
resources and deferred inflows of resources related to pensions, paragraph 137 of Statement 68 required
that beginning balances for deferred outflows of resources and deferred inflows of resources not be
reported.
Consequently, if it is not practical to determine the amounts of all deferred outflows of resources and
deferred inflows of resources related to pensions, contributions made after the measurement date of the
beginning net pension liability could not have been reported as deferred outflows of resources at
transition. This could have resulted in a significant understatement of an employer or non-employer
contributing entity's beginning net position and expense in the initial period of implementation.
This Statement amends paragraph 137 of Statement 68 to require that, at transition, a government
recognize a beginning deferred outflow of resources for its pension contributions, if any,made subsequent
to the measurement date of the beginning net pension liability. Statement 68, as amended, continues to
require that beginning balances for other deferred outflows of resources and deferred inflows of resources
related to pensions be reported at transition only if it is practical to determine all such amounts.
The provisions of this Statement are required to be applied simultaneously with the provisions of
Statement 68.
5
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MAZE
& ASSOCIATES
REQUIRED COMMUNICATIONS
Honorable Mayor and Members of the City Council of
City of Dublin, California
We have audited the basic financial statements of the City of Dublin for the year ended June 30, 2014.
Professional standards require that we communicate to you the following information related to our audit
under generally accepted auditing standards and,Government Auditing Standards.
Significant Audit Findings
Accounting Policies
Management is responsible for the selection and use of appropriate accounting policies. The significant
accounting policies used by City of Dublin are described in Note 1 to the financial statements. The
following pronouncements became effective, but did not have a material effect on the financial
statements:
GASB 66 — Technical Corrections-2012—an amendment of GASB Statements No. 10 and No.
62
GASB 70--Accounting and Financial Reporting for Nonexchange Financial Guarantees
Unusual Transactions, Controversial or Emerging Areas
We noted no transactions entered into by the City during the year for which there is a lack of authoritative
guidance or consensus.All significant transactions have been recognized in the financial statements in the
proper period.
Estimates
Accounting estimates are an integral part of the financial statements prepared by management and are
based on management's knowledge and experience about past and current events and assumptions about
future events. Certain accounting estimates are particularly sensitive because of their significance to the
financial statements and because of the possibility that future events affecting them may differ
significantly from those expected.The most sensitive estimate(s) affecting the City's financial statements
was:
• Management's estimate of depreciation is based on useful lives determined by management.
These lives have been determined by management based on the expected useful life of assets as
disclosed in Note 6. We evaluated the key factors and assumptions used to develop the in
determining that it is reasonable in relation to the financial statements taken as a whole.
• Accrued compensated absences are estimated using accumulated unpaid leave hours and hourly
pay rates in effect at the end of the fiscal year. We evaluated the key factors and assumptions
used to develop the accrued compensated absences and determined that it is reasonable in relation
to the basic financial statements taken as a whole.
T 925.930.0902
Accountancy Corporation F 925.930.0135
3478 Buskirk Avenue,Suite 215 E maze @mazeassociates.com
Pleasant Hill, CA 94523 7 «mmazeassodates..corn
Disclosures
The financial statement disclosures are neutral,consistent,and clear.
Difficulties Encountered in Performing the Audit
We encountered no significant difficulties in dealing with management in performing and completing our
audit.
Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all known and likely misstatements identified during the
audit, other than those that are clearly trivial, and communicate them to the appropriate level of
management. Management has corrected all/certain such misstatements. We did not propose any audit
adjustments that in our judgment, could have a significant effect, either individually or in the aggregate,
on the entity's financial reporting process.
Disagreements with Management
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or
auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial
statements or the auditor's report. We are pleased to report that no such disagreements arose during the
course of our audit.
Management Representations
We have requested certain representations from management that are included in a management
representation letter dated November 21,2014.
Management Consultations with Other Independent Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting
matters, similar to obtaining a "second opinion" on certain situations. If a consultation involves
application of an accounting principle to the governmental unit's financial statements or a determination
of the type of auditor's opinion that may be expressed on those statements, our professional standards
require the consulting accountant to check with us to determine that the consultant has all the relevant
facts.To our knowledge,there were no such consultations with other accountants.
Other Audit Findings or Issues
We generally discuss a variety of matters, including the application of accounting principles and auditing
standards, with management each year prior to retention as the governmental unit's auditors. However,
these discussions occurred in the normal course of our professional relationship and our responses were
not a condition to our retention.
8
Other Information Accompanying the Financial Statements
With respect to the supplementary information accompanying the financial statements, we made certain
inquiries of management and evaluated the form, content, and methods of preparing the information to
determine that the information complies with accounting principles generally accepted in the United
States of America, the method of preparing it has not changed from the prior period, and the information
is appropriate and complete in relation to our audit of the financial statements. We compared and
reconciled the supplementary information to the underlying accounting records used to prepare the
financial statements or to the financial statements themselves.
With respect to the required supplementary information accompanying the financial statements, we
applied certain limited procedures to the required supplementary information in accordance with auditing
standards generally accepted in the United States of America,which consisted of inquiries of management
about the methods of preparing the information and comparing the information for consistency with
management's responses to our inquiries, the basic financial statements, and other knowledge we obtained
during our audit of the basic financial statements. We did not express an opinion nor provide any assurance
on the information because the limited procedures do not provide us with sufficient evidence to express an
opinion or provide any assurance.
The Introductory and Statistical Sections included as part of the Comprehensive Annual Financial Report
have not been subjected to the auditing procedures applied in the audit of the basic financial statements and,
accordingly,we did not express an opinion nor provide any assurance on them.
This information is intended solely for the use of City Council and management and is not intended to be,
and should not be,used by anyone other than these specified parties.
P(�oy. 4 44 0(;A�
Pleasant Hill,California
November 21,2014
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CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 2014
INTRODUCTORY SECTION:
Tableof Contents ......................................................................................................................... ............................... i
Letterof Transmittal .................................................................................................................... ............................... v
GFOA Certificate of Achievement ........................................................................................... ............................... xii
PrincipalOfficers ......................................................................................................................... ...........................xiii
OrganizationalChart ................................................................................................................ ............................... xiv
FINANCIAL SECTION:
IndependentAuditor's Report ................................................................................................... ............................... 1
Management's Discussion and Analysis .................................................................................. ............................... 5
Basic Financial Statements:
Government -wide Financial Statements:
Statementof Net Position ........................................................................................ ............................... 23
Statementof Activities ............................................................................................. ............................... 24
Fund Financial Statements:
Governmental Funds:
BalanceSheet ....................................................................................................... ............................... 28
Reconciliation of the Governmental Funds - Balance Sheet with the Statement
ofNet Position ................................................................................................. ............................... 31
Statement of Revenues, Expenditures, and Changes in Fund Balances ............. .................0.000......... 32
Reconciliation of the Net Change in Fund Balances - Total Governmental
Funds with the Statement of Activities ........................................................... ..........................0.... 34
Statement of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual:
GeneralFund ............................................................................................... ..............................3 5
Affordable Housing Special Revenue Fund ................................................. .............................36
11
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 2014
FINANCIAL SECTION (Continued):
Proprietary Funds:
Statementof Net Position ................................................................................... ............................... 38
Statement of Revenue, Expenses and Changes in Fund Net Position ................ ............................... 39
Statementof Cash Flows.,',,,, 11111111*06*908*94 00*90,11,11111, ....................................................................... 40
Fiduciary Funds:
Statement of Fiduciary Net Position ............................................................... ............................... 42
Notes to Basic Financial Statements .......................................................................... .............................43
Supplemental Information:
General Fund- Budget Versus Actual:
Schedule of Budget Versus Actual Revenue by Sources ................................. .............................76
Schedule of Budget Versus Actual Departmental Expenditures ...................... .............................79
Budgeted Major Governmental Funds Other than General Fund and Special Revenue Funds:
Schedules of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual:
General Improvements Projects Capital Projects Fund ............................ .............................82
Community Improvements Projects Capital Projects Fund ...................... .............................83
Parks Projects Capital Projects Fund......,,,,,,,,, ..................... .................................. 84
Streets Projects Capital Projects Fund"..,,,,,,,,,,, ....................... I ... 11 ............................. I ......... 85
Public Facilities Impact Fees Capital Projects Fund ................................ .............................86
Fire Impact Fees Capital Projects Fund',',, ............................................................................ 87
Traffic Impact Fees Capital Projects Fund ............................................... .............................88
Dublin Crossing Contribution Capital Projects Fund ............................... .............................89
ii
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 2014
FINANCIAL SECTION (Continued):
Non -major Governmental Funds:
CombiningBalance Sheets .................................................................................. .............................96
Combining Statements of Revenues, Expenditures, and Changes
inFund Balances ............................................................ ............................... ............................102
Schedule of Revenues, Expenditures, and Changes
in Fund Balances - Budget and Actual ........................... ............................... ............................108
Internal Service Funds:
Combining Statements of Net Position ............................ ............................... ............................138
Combining Statements of Revenues, Expenses and Changes in Fund Net Position .......................140
Combining Statements of Cash Flows ................................... ............................... ............................142
Fiduciary Funds:
Statement of Changes in Assets and Liabilities — All Agency Funds ............. ............................146
STATISTICAL SECTION:
NetPosition by Component ........................................................ ............................... ............................150
Changesin Net Position .............................................................. ............................... ............................152
Fund Balances of Governmental Funds ..................................... ............................... ............................154
Changes in Fund Balances of Governmental Funds .................. ............10.11.............. ............................156
Assessed Value and Estimated Actual Value of Taxable Property .......................... ............................159
Direct and Overlapping Property Tax Rates .............................. ............................... ............................160
Principal Property Taxpayers ..... ............................................... I. &.. & ......... I.,., ............................. . ......... 162
Property Tax Levies and Collections ......................................... ............................... ............................163
Ratioof Outstanding Debt by Type ............................................ ............................... ............................164
Directand Overlapping Debt ..................................................... ............................... ............................165
Legal Debt Margin Information ................................................. ............................... ............................166
iii
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 2014
STATISTICAL SECTION (Continued):
Demographic and Economic Statistics ...................................... ............................... ............................168
Property Value, Construction and Bank Deposits ..................... ............................... ............................169
PrincipalEmployers ................................................................... ............................... ............................171
Full -time Equivalent City and Contract Government Employees by Function ........ ............................172
Operating Indicators by Function ............................................... ............................... ...........................174
Capital Assets Statistics by Function ......................................... ............................... ............................176
Top25 Sales Tax. Producers ...................................................... ............................... ............................178
Miscellaneous Statistical Data ................................................... ............................... ............................179
Iv
a
CITY OF
DUBLIN November 21, 2014
Honorable Mayor and Members of the City Council:
100 Civic Plaza
Dublin, California 94568 Presented with this transmittal is the City of Dublin (City) Comprehensive
Annual Financial Report (CAFR) for the year ended June 30, 2014. The
Phone: (925) 833 -6650 information in this Comprehensive Annual Financial Report is prepared in
accordance with Generally Accepted Accounting Principles (GAAP) as
Fax: (925) 833 -6651 established by the Governmental Accounting Standards Board (GASB).
The responsibility for the accuracy and fairness of this report rests with the
City. Management Staff are responsible for preparing a complete report which
is based upon reliable information. Maze and Associates Accountancy
Corporation, a firm of licensed public accountants, has issued an unqualified
( "clean ") opinion on the City of Dublin's financial statements for the year
ended June 30, 2014. The independent auditor's report has been included in
this Comprehensive Annual Financial Report.
This letter of transmittal is designed to assist with an individual's review of
the City's financial statements. Specifically it is intended to offer the reader
useful information in assessing the economic conditions impacting the City of
Dublin. It also complements the separate Management's Discussion and
Analysis (MD &A) narrative section, which provides financial highlights of
the City and additional analysis of trends reported as part of the financial
statements. The MD &A is located immediately following the report of the
independent auditors.
City Council
(925) 833 -6650 CITY PROFILE
City Manager The City of Dublin was incorporated in 1982 and is located in Alameda
(925) 833 -6650 County, a growing area in the eastern portion of the San Francisco Bay Area.
Community Development In 2011, the City was named an "All- America City" by the National Civic
(925) 833 -6610 League, one of the nation's oldest and most prestigious civic organizations. In
Economic Development 2012, the City celebrated its 30th anniversary as an incorporated city.
(925) 833 -6650
The City has maintained a permanent staffing level of approximately 91.5
(925) 8333 -664
Finance 3 -664 0 Services full -time equivalent City employees as of June 30, 2014, and budgets for an
additional 75 to 100 temporary employees during the summer recreational
Fire Prevention season. The City serves an estimated population of 49,890 covering a land
(925) 833 -6606 area of 14.62 square miles. The City's strategic location offers opportunities
Human Resources for employers, retail outlets, and high quality residential neighborhoods.
(925) 833 -6605
Parks & Community Services
(925) 556 -4500
Police
(925) 833 -6670
Public Works /Engineering v
tees) R _( ;(;in
The City operates under the Council- Manager form of government. Policy making and
legislative authority are vested in the City Council, which consists of an elected Mayor, who
serves a two -year term and four Council members each elected to a four -year term. The City
Council is responsible for the City's ordinances, operating resolutions, adoption of the annual
budget, hiring the City Manager and City Attorney and confirming the appointments made by the
Mayor to commissions and committees. The City Manager is responsible for the following
activities: implementing the policies, ordinances, and directives of the City Council; overseeing
the day -to -day operations of the City; and appointing the Directors of the City's departments.
Current City services include: City Manager, Human Resources, Administrative Services
(Finance/Information Systems); City Attorney; City Clerk; Police; Fire; Community
Development (Building/Planning/Housing); Economic Development/Public Information; Parks
and Community Services; and Public Works (including Engineering and Maintenance). The City
contracts with both public agencies and private firms to provide a variety of key services
including: Building Inspection; Fire; Police; and Public Works maintenance. A total of 125.24
FTE contract employees were included in the City budget in FY 2013 -140
HIGHLIGHTS
The City of Dublin is located at the intersection of Interstates 580 and 680 approximately 35
miles east of San Francisco. The City delivers a broad range of community services and has a
wide range of housing types available, to meet the demands of various employers throughout the
region. Over the past several years residential builders and developers have constructed a variety
of new housing options, which include a mix of transit - oriented development adjacent to a Bay
Area Rapid Transit (BART) station, as well as single family homes and condominium /
townhome developments. The relatively close proximity to additional job centers and colleges
and universities in the Bay Area create an attractive environment.
During FY 2013 -14, Dublin was recognized as one of the fastest growing communities in
California on a percentage basis. Much of this growth, which is now in its final phases of
completion, was planned in the voter - approved 1994 Eastern Dublin Specific Plan. This vision
has allowed a strong foundation and quality neighborhoods and public facilities to be built
citywide. Equally exciting, new developments in the Downtown Dublin Specific Plan area and
throughout the rest of the community have brought a wonderful range of new retail, office and
transit - oriented residential development that will support a high quality of life in Dublin. The
City remains committed to working to attract new quality investment and services to our
community.
New development over the past decade has had positive budgetary impacts, allowing the City to
make significant investment in our community- serving facilities, such as our excellent parks.
While careful financial stewardship has put Dublin in a strong fiscal position, it is important that
we look to ensure the stability of the community's long -term fiscal condition so that we may
continue to provide high- quality services.
vi
Key City accomplishments during FY 2013 -14 include the following:
Parks & Community Services
• Completed the Shannon Park Water Play Area renovation.
• Acquired land and developed a Master Plan for the Iron Horse Nature Park.
• Coordinated the "Live Healthy Dublin: Step 2 It Challenge" with over 350 participants.
• Expanded hours at the Dublin Library, increasing the City- supported additional hours to
21 per week, for a total of 49 open hours per week.
• Expanded funding for the Recreation Fee Assistance Program.
Public Works
• Improved pedestrian access at Golden Gate Drive and Dublin Boulevard by providing a
separate phase for left -turning vehicles.
• Developed the Street Tree Ordinance.
• Produced a long -term Trash Reduction Plan to reduce litter by 70% within the City's
storm drains, creeks and waterways by the end of 2017.
• Converted eight street median irrigation systems from potable to recycled water.
• Expanded a recycling contest within the Dublin Unified School District.
Administrative Services
• Implemented an online web tool that provides the City's budget data to the public.
• Began implementation of an enhanced Geographic Information System (GIS) portal.
• Implemented a new web -based financial reporting tool that allows more efficient use of
the City's financial system.
• Prepared the City's two -year Budget and Financial Plan.
Economic Development
• Provided assistance in the development of Persimmon Place (Whole Foods, Nordstrom
Rack, and others) due to open Spring 2015
• Completed fagade remodel project along Village Parkway in Downtown Dublin.
• Provided permitting assistance to a range of new businesses including Ross Corporate
Headquarters and many new restaurants and shops.
Community Development
• Processed entitlements and issued permits for numerous major projects, including Ross
Corporate Headquarters, Persimmon Place, and expansion of Fallon Gateway Center.
• Prepared the Dublin Crossings Specific Plan for the conversion of 189 -acres of Camp
Parks for residential, commercial, school, and parkland development.
• Prepared the 2013 California Building Codes for City Council adoption, and enhanced
customer service through online viewing of building permit plan check comments.
• Prepared new procedures to streamline and clarify zoning regulations for certain land use,
design, signage, and parking requirements for small businesses.
• Instituted the City's first Human Services Commission, and provided over $200,000 in
financial support to community groups serving Dublin residents.
Vii
General Government
• Initiated a comprehensive Marketing and Branding Plan for the City.
• Completed construction of the first phase of the City's new Public Safety Complex to
accommodate projected growth in services.
• Facilitated the "Inside Dublin" Leadership Academy
• Completed the Energy Action Plan Project.
• Initiated construction of both the City and Alameda County Fire Department's
maintenance facilities.
Police Services
• Facilitated a Citizens Academy and a Youth Academy for community participants.
• Hosted 10 bicycle rodeos and 15 safety seminars throughout Dublin.
• Conducted the annual. Independence Day Special Operation with the goal of controlling
the use of illegal fireworks and the protection of public safety with a reduction in calls
from the previous year.
• Purchased six new police patrol vehicles, two new K -9 vehicles, one new Mobile
Command vehicle, and four unmarked detective vehicles.
• Purchased new radios to improve interoperability with neighboring agencies.
Fire
• Relocated the Alameda County Fire offices to the new Public Safety Complex in Dublin.
• Responded to 2,639 calls from July 1, 2013 to June 30, 2014.
• Conducted 3,561 inspections during the fiscal year.
• Completed 1,091 plan checks.
• Continued to improve emergency responses throughout the Tri- Valley by formalizing an
automatic aid agreement with Livermore - Pleasanton Fire Department.
Also In FY 2013 -14, the City received numerous awards for its accomplishments in various
areas of community services and improvements. These include the following:
• 20th Annual Charles L. Edson Tax Credit Excellence Award for Best Public Housing
(Renovation) for the Emerald Vista Project, in partnership with Eden Housing.
• Award of Merit from the American Planning Association, for the Emerald Vista Project.
• "Tree City USA" designation, by the National Arbor Day Foundation.
• 2014 Project of the Year Award for Small Cities — Transportation, American Public
Works Association, Northern CA Chapter, for the Golden Gate Drive Streetscape
Enhancement Project.
• Recognition by the Metropolitan Transportation Commission Regional Streets and Roads
Program for achievement in pavement maintenance, with Alameda County's highest
pavement condition index.
• Honor Award from the Northern California Chapter of the American Society of
Landscape Architects for the Iron Horse Nature Park Master Plan.
• "A" Grade from the American Lung Association.
• Red Tape to Red Carpet Award from the Silicon Valley Leadership Group.
• California Association of Local Economic Development (CALED) Award for Toolkit for
Business Retention and Expansion.
viii
FINANCIAL OUTLOOK
As the real estate market has stabilized and development gains momentum, the local economy
has experienced a steady and gradual recovery that is continuing into the current fiscal year. The
City's property tax revenues, which made up 37% of total revenues in FY 2013 -14, have grown
1 %, 6 %, and 7% over the last three years, respectively. Since the recession, average assessed
valuations in Dublin have been gradually rising, along with sales prices. As of November 2014,
median sales prices in the City of Dublin increased 8.2% compared to the prior year, and sales
prices have appreciated 56.7% over the last five years. The total assessed valuation in the City
increased 15.3% to roughly $11.1 billion as of June 30, 2014. The growth is due primarily to
new inventory, increased sales activity, and the partial recapture of assessed valuations that had
been reduced during the recession.
Sales tax revenue is also showing continued growth, with an increase of 16% over the prior year.
While the City experienced growth in nearly all sectors, Autos and Transportation and General
Consumer Goods remain the highest revenue generators. The City's sales base includes such
retailers as Best Buy, Toys R US, Lowes, and Target; and auto dealers Chevrolet, Nissan,
Honda, Toyota, Volkswagen, Chrysler, Dodge, Jeep, Buick, GMC, Cadillac, Kia, Mazda, and
Hyundai. Ross Corporate headquarters is among the new businesses receiving permitting
assistance during FY 2013 -14, and the Persimmon Place project (including Whole Foods,
Nordstrom Rack and Home Goods) is on track to open early in 2015. The City's Sales Tax
Reimbursement Program, which offers a temporary tax incentive to eligible companies, has been
instrumental in bringing in new retailers, and has been extended to January 2015.
Development - related revenue also has been increasing in the City of Dublin. Building permit
revenue has increased 9% over FY 2012 -13, as has revenue from zoning services. As a high level
of development continues, the City Council has recognized these funding sources as one -time
sources, versus the ongoing revenues that sustain the fundamental City operations. It is also
crucial to differentiate ongoing expenditures, which are linked to departmental activities, from
total expenditures, which include transfers out to CIP projects. Those transfers are typically
funded by the planned use of Committed Reserves, with one -time sources like Community
Benefit Payments, or through the special designation of surplus reserves, as approved by the City
Council. As ongoing costs rise, City operations will depend upon a similarly growing ongoing
revenue stream, and one -time sources should continue to be used in funding the CIP, or to shore
up contingency reserves for future needs.
While FY 2013 44 finished with a General Fund surplus of roughly $10.5 million (before
transfers to out to capital projects), it is long -term fiscal sustainability that remains at the
forefront of budget discussions, particularly related to providing ongoing maintenance of the
handful of new parks and facilities, and the planning for the eventual slowdown of development.
M
FINANCIAL PLANNING AND POLICIES
The City Council adopted a 10 -Year Strategic Plan, which is updated every two years. Five
specific strategies were identified to establish the framework and overarching policy focus for
the delivery of public services to the community. The Budget document has a section containing
the Strategic Plan and Goals and Objectives. Adjustments to programs presented by the City
Manager in the Budget document were tied to the prioritization of elements within the Strategic
Plan.
The City of Dublin adopts a balanced operational budget in accordance with City policies.
Beginning with FY 2012 -13, the City has utilized a two -year budget format. The City Council
adopts a final budget and appropriates funds in advance of the July 1st start of the new Fiscal
Year. In terms of major capital investments, constructed with Impact Fees, the City has operated
utilizing a pay -as- you -go philosophy. The City has typically operated with no debt financing,
though an equipment lease was initiated in FY 2012 -13 to fund various energy- efficient
improvements, including solar panels at City facilities, which have reduced ongoing utility costs
and will eventually fully offset the cost of the project. This project aligned with City Council
strategy focused on supporting environmental sustainability.
The financial policies currently used for budgeting also provide for the use of Internal Service
funds to assure resources are available to finance the replacement of public safety vehicles and
apparatus, computer systems, and some building components. The importance of being prepared
to address long term needs has always been a key principle supported by the City Council. The
City has also proactively financed contributions to fund long -term retiree medical liabilities.
The City Council adopted a policy in accordance with GASB Statement 54, which establishes
the components of Fund Balance within the General Fund and how changes as the result of
operations are to be administered. The policy continues to support the long -term philosophy to
be prudent and maintain funds for future liabilities which may be both known as well as
unknown. The City Council has also set -aside funds for specific projects and activities with the
understanding that some goals require a long -term view and incremental funding over a number
of years before the project is undertaken.
The Government Finance Officers' Association (GFOA) has recognized the City of Dublin for
its Comprehensive Annual Financial Report covering the period ending June 30, 2013. A copy
of the award from this entity is included in this report. This award represents the 23rd
consecutive year that the City's report was recognized by the GFOA. In 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.
x
ACKNOWLEDGEMENTS
The preparation of this report was made possible by the collaborative efforts of staff in the
Administrative Services Department and other departments. A special thanks and
acknowledgement goes to Yuliana Tjeng, Senior Accountant, and Lisa Hisatomi, Assistant
Director of Administrative Services, as well as the professional staff at Maze and Associates. Of
course the ultimate thanks are afforded to the Mayor and City Council in their support and
commitment to have the City's financial reporting strive for excellence.
Sincerely,
Christopher L. Foss
Colleen Tribby, Administrative Services Director
X1
1
1
GD
Government Finance Officers Association
1
Certificate of
. 1
Achievement
for Excellence 1
in Financial
t
Reporting
Presented to
City of Dublin
California 1
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended 1
June 30, 2013 1
*fier
1
Executive Director/CEO
I
1
xii 1
CITY OF DUBLIN
PRINCIPAL OFFICERS
Fiscal Year 2013/2014
Mayor
Tim Sbranti
Vice Mayor Councilmember
Don Biddle Kevin Hart
Councilmember Councilmember
David Haubert Abe Gupta
ADMINISTRATION PERSONNEL
City Manager
Chris Foss
Assistant City Manager
Linda Smith
City Attorney
John Bakker
Administrative Services Director
Colleen Tribby
City Clerk
Caroline Soto
Chief of Police
Tom McCarthy
Community Development Director
Luke Sims
Economic Development Director
Lori Taylor
Fire Marshal
Bonnie Terra
Human Resources Director
Julie Carter
Park & Community Services Director
Paul McCreary
Public Work Director
Gary Huisingh
Xiii
oraanizational Chart
Citizens of Dublin
City Council
City Attorney I I City Manager
Police
Services
Parks &�
Community
Services
Human
Resources
Fire Services
Non
Departmental
Assistant
City Manager
Public Works
Economic
Development
City Clerk
Administrative
Services
xiv
1
Community
Development
City Clerk
Administrative
Services
xiv
M AC T
ZE
INDEPENDENT AUDITOR'S REPORT
To the Honorable Mayor and Members of the City Council of the City of Dublin
Dublin, California
Report on Financial Statements
We have audited the accompanying financial statements of the governmental activities, each major fund
and the aggregate remaining fund information of the City of Dublin (City), California, as of and for the
year ended June 30, 2014, and the related notes to the financial statements which collectively comprise
the City's basic financial statements as listed in the Table of Contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of the financial statements that are free from material misstatement, whether due to fraud or
error.
Auditor's Responsibility
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 and
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 as to whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the City's
preparation and fair presentation of these financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the City's internal control. Accordingly, we express no such opinion. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
Accountancy Corporation
3478 Buskirk Avenue, Suite 215
Pleasant Hill, CA 94523
1
T 925.930.0902
F 925.930.0135
E maze@mazeassociates.com
w mazeassociates.com
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, each major fund, and the aggregate remaining
fund information of the City, as of June 30, 2014, and the respective changes in the financial position and
cash flows, where applicable, thereof and the respective budgetary comparisons listed as part of the basic
financial statements for the year then ended in conformity with accounting principles generally accepted
in the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that Management's
Discussion and Analysis be presented to supplement the basic financial statements. Such information,
although not a part of the basic financial statements, is required by the Governmental Accounting
Standards Board, who considers it to be an essential part of financial reporting for placing the basic
financial statements in an appropriate operational, economic or historical context. We have applied
certain limited procedures to the required supplementary information in accordance with auditing
standards generally accepted in the United States of America, which consisted of inquiries of
management about the methods of preparing the information and comparing the information for
consistency with management's responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion
or provide any assurance on the information because the limited procedures do not provide us with
sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City's basic financial statements as a whole. The Introductory Section, Supplemental
Information, and Statistical Section as listed in the Table of Contents are presented for purposes of
additional analysis and are not required parts of the financial statements.
The Supplemental Information is the responsibility of management and was derived from and relates
directly to the underlying accounting and other records used to prepare the basic financial statements.
The information has been subjected to the auditing procedures applied in the audit of the basic financial
statements and certain additional procedures, including comparing and reconciling such information
directly to the underlying accounting and other records used to prepare the basic financial statements or
to the financial statements themselves, and other additional procedures in accordance with auditing
standards generally accepted in the United States of America. In our opinion, the Supplemental
Information is fairly stated in all material respects in relation to the basic financial statements as a whole.
The Introductory and Statistical Sections have not been subjected to the auditing procedures applied in
the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any
assurance on them.
2
f
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated November 21,
2014, on our consideration of the City's internal control over financial reporting and on our tests of its
' compliance with certain provisions of laws, contracts, and grant agreements and other matters. The
purpose of that report is to describe the scope of our testing of internal control over financial reporting
and compliance and the results of that testing, and not to provide an opinion on the internal control over
fmancial reporting or on compliance. That report is an integral part of an audit performed in accordance
with Government Auditing Standards in considering the City's internal control over fmancial reporting
and compliance.
iy( /1.4301.44gbei.
' Pleasant Hill,California
November 21, 2014
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Management's Discussion and Analysis (MDA) June 30, 2014
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,
2014. Please read this overview in conjunction with the accompanying letter of transmittal and the
accompanying basic financial statements.
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 Position 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.
• Fund Financial Statements — These
major funds, including how services
for financing future projects.
• Notes to the Financial Statements —
understanding of the information
Statements.
statements provide additional information about the City's
were financed in the short term and fund balances available
The notes provide additional detail that is essential to a full
provided in the Government -wide and Fund Financial
In addition to the basic financial statements and accompanying notes, this report also presents certain
required supplementary information concerning the City's progress in funding its obligation to provide
pension benefits to its employees.
GOVERNMENT -WIDE FINANCIAL STATEMENTS - DESCRIPTION
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 position and changes to the net position during the fiscal year. Net
position - the difference between assets and liabilities - are one way to measure the City's financial
position. Over time, increases or decreases in the net position are among indicators used to assess whether
the financial condition of the City is improving or deteriorating. However, it is also important to consider
other nonfinancial factors, such as: changes in the City's property tax values, sales tax outlets, and the
condition of the City's infrastructure (i.e. parks and streets), to accurately assess the overall health of the
City.
The Government -wide statements present information about the City's activities, all of which 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.
5
GOVERNMENT-WIDE FINANCIAL STATEMENTS—ANALYSIS
Table 1 provides and analysis summarizing the year to year change in the Government-Wide net assets
reported for the City of Dublin. By definition the "net assets" are represented as the difference between
total assets and total liabilities.
TABLE 1: SUMMARY OF NET POSITION
I
June 30,2014 and 2013
Governmental Activities
June 30,2014 June 30,2013 $Change %Change I
Item
Current and other assets 166,738,992 158,556,363 8,182,629 5.2%
Notes receivable(See Note5) 10,320,132 10,774,156 (454,024) -4.2%
OPEB asset(Note 12) 35,889 17,717 18,172 102.6%
Capital assets 451,658,172 438,401,573 13,256,599 3.0%
Total assets 628,753,185 607,749,809 21,003,376 3.5%
I
Current Liabilities 17,954,413 16,434,604 1,519,809 9.2%
Noncurrent Liabilities 6,542,008 6,960,016 (418,008) -6.0%
I
Total Liabilities 24,496,421 23,394,620 1,101,801 4.7%
Net investment in capital assets 445,529,366 432,722,323 12,807,043 3.0%
I
Restricted 60,808,540 52,548,095 8,260,445 15.7%
Unrestricted
(See Note 8 to Financials for 97,918,858 99,084,771 (1,165,913) -1.2%
I
Classification)
Total net assets 604,256,764 584,355,189 19,901,575 3.4%
As illustrated in the above table, the City's net position increased b y $19.9 million (3.4%)) during FY
2013-14. This is primarily due to the following:
• Total assets increased approximately $21.0 million, due rimaril to increases in cash and
P Y
investments, which are part of current assets, and in capital assets. Cash and investments in the
Community Benefit Fund (part of the General Fund) increased by $2.1 million, as a large one-
time development payment was received, in addition to numerous smaller payments. Cash and
investments in the Public Facility Impact Fees increased a combined total of$3.5 million, and
Traffic Impact Fees increased approximately$3.6 million, both trending with the increased level
I
of development the City experienced during the fiscal year. Capital Assets increased by $13.3
million (3.0%)due primarily to significant progress on capital improvement projects, including a
$4.6 million parkland acquisition(Iron Horse Trail),a combined total of$3.5 million spent on the
Emerald Glen Aquatics Complex and Passatempo Park improvements, and $7.9 million on the
Maintenance Facility and $4.2 million on the Public Facility Complex, both of which are near
completion as of June 30, 2014. The City also purchased new safety vehicles, including a new
Fire engine, totaling $972,000 during the year. Notes receivable decreased in the Affordable I
Housing fund decreased,as the City received the first payments against the Emerald Vista loan.
1
1 '
6 t
• Total liabilities also increased, with a net difference of $1.1 million from the prior year. Current
liabilities, representing primarily obligations outstanding for current operations (accounts
payable), capital projects (such as retention payable), deposits held for development projects, and
amounts recorded as deferred revenue, increased slightly during the year with routine contract
obligations. Noncurrent liabilities, which as of FY 2012 -13 include the 2012 Chevron Energy
Capital Lease, decreased slightly as the City made its first payment against the lease. (see Note
7).
• The City's $445.5 million in capital assets represents 73.7% of the total reported net assets,
staying relatively consistent with the prior year. Capital asset investments include the City's
investments in land, infrastructure, buildings, and equipment. The City uses these capital assets to
provide services to citizens; consequently, these assets are not available for future spending. The
change in annual capital assets reflects both the addition of capital assets (including construction
in progress), less accumulated depreciation. As noted above, the City made significant
contributions to capital assets during the year, including a new land acquisition, and significant
expenses on the Maintenance Yard and Public Safety Complex.
• Restricted assets, including impact fee funds and grant funds, are resources that have external
restrictions on their use. In FY 2013 -14 the City's restricted assets increased by $8.3 million, due
primarily to the collection of impact fees for specific development projects, notably Public
Facility Fees and Traffic Impact Fees, as well as the Public Art Fund (Special Revenue), that
accounts for funds also restricted to specific capital improvement use. Approximately $97.9
million of the City's total assets are unrestricted and may be used to meet the City's ongoing
obligations to the community and to creditors. This is a decrease of $1.2 million from the prior
year. The bulk of unrestricted assets are attributable to portions of the General Fund balance that
are already committed and assigned for specific purposes, in accordance with the City's Fund
Balance and Reserves Policy.
7
GOVERNMENTAL ACTIVITIES
Table 2 below provides a summary of major program expense categories, program revenues used to fund
specific expenses, and general City revenues available for funding all City programs. The information
presented here provides detail behind the numbers shown in the Summary of Net Position (Table 1).
TABLE 2: SUMMARY OF CHANGES IN NET POSITION
June 30, 2014 and 2013
General Revenues
Property Taxes
June 30, 2014
June 30, 2013
$ Change
% Change
Revenues
17,833,314
15,359,340
2,4739974
16.1%
Program Revenues
55427,627
550543257
3739370
7.4%
Charges For Services
195581,052
18,5209645
15060,407
53%
Operating Contributions & Grants
1,674,815
1,135,050
539,765
47.6%
Capital Grants & Contributions
20,914,994
28,6895753
(75774,759)
-27.1%
Sub -Total Program Revenue
425170,861
48,3455448
(6,1743587)
-12.8%
General Revenues
Property Taxes
25,286,308
23,590,102
156969206
7.2%
Sales Tax
17,833,314
15,359,340
2,4739974
16.1%
Other Taxes
55427,627
550543257
3739370
7.4%
Investment income, unrestricted
853,147
(3995590)
1252,737
- 313.5%
Intergovernmental, unrestricted
191,574
208,904
(17,330)
-83%
Other general revenues
125211
457295261
(4,604,050)
-97.4%
Sub -Total General Revenue
49,7171181
4855425274
1,174,907
2.4%
Total Revenues 1 9198889042 96,887,722 (49999,680) -5.2%
Expenses
Governmental activities:
General government
Public safety
Highways and streets
Health and welfare
Culture and leisure services
Community development
17,665221
27,770,111
45305,390
4,0573796
9,018,161
991695788
1032655476
26,846,045
7241263
35753,875
105772,868
95979,877
7,399,745
9245066
(239355873)
303,921
(1,754,707)
(810,089)
72.1%
3.4%
-40.5%
8.1%
-163%
-8.1%
Sub -Total governmental activites
719986,467
68,8599404
391279063
4.5%
Increase In Net Position
199901,575
2890289318
(891269743)
-29.0%
Net Position - Beginning of Year
58493559189
55693269871
2890289318
5.0%
Net Position - End of Year
60492569764
58493559189
1999019575
3.4%
As shown in Table 2, total revenues from all sources were $91.9 million and total expenses for all City
programs were $72.0 million in FY 2013 -14. The City's net position increased $19.9 million, compared
to $28.0 million in the prior year: that change is due predominantly to decreased revenue for capital
projects and one -time revenues related to development projects, as well as increased in Property and Sales
taxes, and a net increase of capital asset expenses.
Revenues
Overall revenues decreased $5.0 million, or 5.2 %, in FY 2013 -14 compared to the prior year. Changes
included:
• Charges for Services increased $1.1 million due mainly to the net change of increases in building
permit activity and zoning revenue associated with the acceleration of development within the
City, charges for recreation programs and residential garbage /recycling, and a decrease in Santa
Rita charges for emergency services.
• Operating Contributions and Grants increased $0.5 million due to the Affordable Housing Loan
repayment.
• Capital Grants and Contributions decreased $7.8 million due to the one -time Federal grant
(SAFETEA LU) in FY 2012 -13 for street capital improvement projects, and decreased one -time
revenues such as Community Benefit Payments, public facility fees, and public art in -lieu fees.
• Property Taxes increased $1.7 million, resulting from an increase to overall assessed property
valuations, and the incorporation of some recapture of previous values lost via Prop 8.
• Sales Tax increased $2.5 million, due to strong growth in auto sales, consumer spending, and
building and construction sectors.
• Other Taxes increased $0.4 million, due to increases in franchise taxes and hotel taxes.
• Investment Income increased by $1.3 million due to the booking of an unrealized gain to reflect
the market value of investments as of June 30, 2014 — the first positive adjustment to fair market
value in five consecutive years.
• Other Revenues decreased by $4.6 million primarily due to a one -time payment of $3.5 million
from the Alameda County Fire Department for the Public Safety Complex in FY 2012 -13 and the
decrease in total Community Benefit Payments, which are also one -time revenue.
Expenses
Total expenses increased $3.1 million, or 4.5% in FY 2013 -14 compared to the prior year. As operating
expenditures (General Fund) were offset by revenues, the increase is primarily due to the booking of
capital asset expenses. The following factors contributed to the overall increase:
• General Government expenses increase is due to the replacement of fire engine and police
vehicles.
• Public Safety expenses increase by $0.9 million is due to increases in police contract services
cost.
I
• Highways and Streets expenses decreased by $3.0 million as a result of large expenses in the
prior year that did not reoccur in FY 2013 -14. These largest of these included $1.8 million on the
Golden Gate Drive improvements, and $1.1 million for the completion of the Alamo Canal Trail
in FY 2012 -13.
• Health and Welfare expenses increased by $0.3 million due to increased costs related to
residential garbage services.
• Cultural and Leisure Services expenses decreased by $1.8 million as a result of higher costs in the
prior year, related to the maintenance of City facilities, and to various recreational services (offset
by revenues) such as sports and childcare programs, and City- sponsored events.
• Community Development expenses decreased by $0.9 million, a relatively slight change related
to routine fluctuations of in services provided and housing and planning program costs.
Revenues and Expenses by Category
The following chart presents the Government -Wide FY 2013 -14 revenues in a pie chart format (in
thousands). Approximately 91% of the total revenue is related to four sources: 1) Property taxes, 28 %; 2)
Capital Grants and Contributions, 23 %; 3) Charges for Services, 21 %; and 4) Sales tax, 19 %. This is
relatively consistent with the prior year.
Investment income,
Other Taxes,
$5,42816%
Sal es Tax.
$17,833,19%
Property Taxes,
$25,286, 28%
I ntergovernmenta I,
10
Other general
revenues,
$12510%
Charges For
Services,
$19,581, 21%
Operating
_Contributions &
Grants, $1,675 , 2%
Capital Grants &
Contributions,
$20,915, 23%
Government -Wide expenses in FY 2013 -14 are shown below in the same pie chart format (in thousands).
Of the $72.0 million in total expenses, Public Safety is the largest program cost, at 38% of the total.
General Government, Community Development, and Culture and Leisure Services follow at 25 %, 13 %,
and 12 %, respectively.
Community
development ,
$9,170,13%
Culture and leisure
services,
$9,018,12%
Health andwelfare, ,
$4,05816%
Highways and
streets ,
$4,305; 6%
FUND FINANCIAL STATEMENTS
General
Dvernment,
71665,24%
Public safety,
$27,770,39%
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 functionsreported
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.
11
The City maintains forty-four (46) 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 following nine funds: General Fund; Affordable Housing Fund; four
Capital Project Funds (General Improvement Projects; Community Improvement Projects; Parks Projects;
Streets Projects); and four Impact Fee Funds (Public Facilities Impact Fees, Fire Impact Fees, Traffic
Impact Fees, and Dublin Crossings Contribution). These funds 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 thirty -five (36) Governmental funds are combined into a single aggregated presentation, labeled
as Non -Major Governmental Funds. 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. These funds are also used to collect funds for
future retiree medical costs, which are then transferred to a trust. In FY 2006 -07, the City established an
internal service fund component related to the pre - payment of the Public Employees Retirement System
side fund obligation. Charges are made to departments based on payroll to fully recover advanced
retirement payment over time. The City uses eight internal service funds to account for its fleet of
vehicles, computer systems, other furniture and equipment, certain retiree 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 eight 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 Fiduciary fund section consists of six Agency Funds. The Dublin Boulevard
Extension Agency Fund is an improvement district with outstanding bonds. The City's role is that of a
trustee, or fiduciary, in collecting assessments and remitting bond payments. 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. The City also provides a similar role for four Geologic Hazard
Abatement Districts. California Public Resources Code section 25670 establishes that these Districts are a
political subdivision of the State and not an agency or instrumentality of a local agency. The City
contractually provides support to collect funds in a fiduciary capacity and may also arrange for activities
funded by the Districts.
The City served as the fiscal agent for Alameda County Associated Community Action Program (ACAP)
beginning in 2011. The entity is a Joint Powers agency which the members have decided to proceed with
closing out all activities. The City role was limited to holding funds collected from members and issuing
payments as part of the close -out process.
These fiduciary activities are excluded from the City's fund financial statements because these assets
cannot be used to finance City operations. The activity for these funds, however, is provided for in a
separate combining statement contained elsewhere in this report.
IN
FINANCIAL ANALYSIS OF THE GOVERNMENTAL FUNDS
At June 30, 2014, the City's governmental funds reported combined ending fund balances of $140.4
million, an increase of $10.5 million from the prior year. Table 3 below illustrates the net change in fund
balances over the prior year for these funds. A discussion of the changes follows the table; individual and
non -major funds may be found in the Supplemental.
TABLE 3: GOVERNMENTAL FUND BALANCE CHANGES
June 30, 2014 and 2013
GENERAL FUND
The General Fund is the chief operating fund of the City. Approximately $2.5 million of the balance is
non - spendable in the form of pre -paid expenses, advances to the Fire Impact Fee Fund and the PERS Side
Fund, and an endowment fund related to a City owned historic cemetery. At the end of FY 2013 -14, the
unassigned fund balance of the General Fund was $13.4 million, representing approximately three months
of budgeted FY 2014 -15 expenditures, with total fund balance at $79.5 million. The unassigned amount
reflects an amount calculated for the unrealized gain on investments as well as an amount related to cash
flow for on -going operations. The remaining balances are committed or assigned in accordance with a
policy adopted by the City Council as discussed in Note 9 to the financial statements.
During FY 2013 -14, General Fund revenues exceeded its expenditures by $12.6 million, before transfers
out. Compared to the prior year, General Fund revenues came in $0.7 million higher, from $67.1 million
in FY 2012 -13 to $67.9 million in FY 2013 -14. Excluding Community Benefit Payments, which are
considered one -time in nature, Revenue in FY 2013 -14 came in approximately $6.7 million higher than
the prior year. This is due mainly to gains in Property Taxes, Sales Taxes, which made up 37.3% and
34.3 %, respectively, of all General Fund revenues in FY 2013 -14. The adjustment to interest income,
which is an annual reflection of the fair market value of City investments, also increased revenues by $1.6
million over the prior year, as the City's rebalanced portfolio experienced some gains as the market
steadily recovered.
Expenditures in General Fund departments totaled $55.3 million in FY 2013 -14, staying nearly $5.5
million under the final budget (not including transfers out), but coming in $2.9 million higher than actual
expenditures in the prior year. This is primarily due to a $1.1 million increase in contracted services
costs, and a nearly $1.1 million increase to personnel costs (salaries and benefits).
13
June 30, 2014
June 30, 2013
$ Change
% Change
General Fund
79,5779762
773317,129
2,260,633
2.9%
Affordable Housing Fund
10,0649299
7,013,816
3,0505483
43.5%
Capital Improvement Funds
41,339,587
37,433,821
3,905,766
10.4%
Other Governmental Funds
9,4041895
8,100,458
133049437
16.1%
Total Governmental Funds
14093869543
12998659224
1095219319
8.1%
GENERAL FUND
The General Fund is the chief operating fund of the City. Approximately $2.5 million of the balance is
non - spendable in the form of pre -paid expenses, advances to the Fire Impact Fee Fund and the PERS Side
Fund, and an endowment fund related to a City owned historic cemetery. At the end of FY 2013 -14, the
unassigned fund balance of the General Fund was $13.4 million, representing approximately three months
of budgeted FY 2014 -15 expenditures, with total fund balance at $79.5 million. The unassigned amount
reflects an amount calculated for the unrealized gain on investments as well as an amount related to cash
flow for on -going operations. The remaining balances are committed or assigned in accordance with a
policy adopted by the City Council as discussed in Note 9 to the financial statements.
During FY 2013 -14, General Fund revenues exceeded its expenditures by $12.6 million, before transfers
out. Compared to the prior year, General Fund revenues came in $0.7 million higher, from $67.1 million
in FY 2012 -13 to $67.9 million in FY 2013 -14. Excluding Community Benefit Payments, which are
considered one -time in nature, Revenue in FY 2013 -14 came in approximately $6.7 million higher than
the prior year. This is due mainly to gains in Property Taxes, Sales Taxes, which made up 37.3% and
34.3 %, respectively, of all General Fund revenues in FY 2013 -14. The adjustment to interest income,
which is an annual reflection of the fair market value of City investments, also increased revenues by $1.6
million over the prior year, as the City's rebalanced portfolio experienced some gains as the market
steadily recovered.
Expenditures in General Fund departments totaled $55.3 million in FY 2013 -14, staying nearly $5.5
million under the final budget (not including transfers out), but coming in $2.9 million higher than actual
expenditures in the prior year. This is primarily due to a $1.1 million increase in contracted services
costs, and a nearly $1.1 million increase to personnel costs (salaries and benefits).
13
Also in FY 2013 -14, The General Fund contributed $10.4 million towards capital project expenditures,
via transfers out to Capital Improvement Project Funds. This is an increase of nearly $8.1 million over the
prior year, and is due primarily to transfers of $4.9 million and $3.2 million for the Maintenance Yard and
the Public Safety Complex, respectively. After transfers, total reserves increased nearly $2.3 million as
of June 30, 2014. It is important to note that, of the total transferred out for capital projects, $10.4 million
was covered by specific Committed Reserves, with the remainder coming from the Unassigned Reserves.
AFFORDABLE HOUSING FUND
The Affordable Housing Fund is a special revenue fund which accounts for funds associated with the
Affordable Housing programs. The fund balance totaled $10.0 million at June 30, 2014, an approximate
increase of $3.0 million over the prior year. The change reflects $2.6 million developer fee revenue and
loan principal of $0.8 million collected during the year. In addition, program expenditures were $0.5
million for the prior year, due to decreased loan activity in the fund.
CAPITAL EWROVEMENTS FUNDS
As previously described the City has included seven specific capital funds in the information presented as
part of the governmental funds. Four of the funds are used to capture expenditures related to active capital
projects that are under way. The four funds are: General Improvement Projects; Community Improvement
Projects; Parks Projects; and Streets Projects. The funding for the expenditures made in these funds is the
result of transfers in from other funds. As of June 30, 2014 as in the prior year, none of these funds
carried a balance. The following Capital Impact Fee Funds are also reported:
Public Facilities Fee Fund: This fund includes fees collected to develop parks and other public facilities.
Total revenue collected in FY 2012 -13 was $7.8 million, a decrease of $5.2 million from the prior year.
This revenue is collected when developers process Final Maps, resulting in payments of park land
dedication fees. Due to variations in project construction and acquisition timelines expenditure patterns
will fluctuate. Expenses in FY 2013 -14 totaled $7.5 million in this fund, primarily for the continued
design and preparation for construction of new park facilities. The balance is designated as restricted due
to the fact that there are legal restrictions and it is not available for general purposes.
Fire Impact Fees: This fund accounts for fees collected from new development to pay for the capital
cost associated with the provision of Fire Services. Total revenue collected in FY 2013 -14 was $0.2
million, approximately $0.1 million less than was collected in the prior year. In FY 2011 -12 the City
collected an advance payment from the Jordan Ranch project, which will reduce fees collected as the
property develops since the developers will have credits in -lieu of paying cash at the time of receiving a
building permit. In addition, collections will fluctuate with the normal variations in development activity.
The negative fund balance associated with this fund represents the repayment of a long term advance,
including interest, made from the City General Fund. In FY 2013 -14 the amount owed to the General
Fund decreased by $196,699 after accounting for interest on the outstanding balance. The total balance
owed to the General Fund, as of June 30, 2014 is $0.9 million. The balance is designated as restricted due
to the fact that there are legal restrictions and it is not available for general purposes.
1E11
Traffic Impact Fee Funds. These funds account for fees collected to construct major traffic
improvements necessary to facilitate development. Fees are levied and collected on development in
proportion to its impact on the transportation needs. Revenue collected in FY 2013 -14 totaled $4.8
million (including interest earned), approximately $2.0 million more than collected in the prior year. The
City expended approximately $0.4 million in payments to reduce outstanding obligations. In addition
approximately $0.9 million was transferred to the Streets Capital Project Fund, primarily for future
project design expenses. This resulted in a net increase of fund balance by $3.3 million. The balance is
designated as restricted due to the fact that there are legal restrictions and it is not available for general
purposes.
NON -MAJOR FUNDS
The City's non -major funds, which are all Special Revenue Funds, are presented in the basic financial
statements in the aggregate. Total fund balance increased $1.3 million, from $8.1 million in the prior year
to $9.4 million in FY 2013 -14. Based on the designated use of the funds they can be arranged by function
as shown in Table 4 below:
TABLE 4: ANALYSIS OF FUND BALANCES -
NON- MAJOR GOVERNMENTAL FUNDS, ARRANGED BY FUNCTION
June 30, 2014 and 2013
June 30, 2014 June 30, 2013 $ Change % Change
Function
Public Safety 9025161
Transportation 4,197,427
Environmental 9609102
Parks, Culture, Arts 2,3149755
Health & Welfare 82,383
832,051
70,110
8.4%
(101,245)
3,564,924
6329503
173%
891009457
8889814
719288
8.00/o
15689,450
625,305
37.0%
75,907
69476
8.5%
Maintenance Districts
9489066
19049,311
(101,245)
-9.6%
TOTAL FUND BALANCE
994049895
891009457
193049438
1691%
The full fund balances of these Special Revenue Funds are legally restricted to use under the programs
indicated in the Table above, are not available for general purposes. The Transportation function shows
an increase in fund balance due to Gas Tax and grant funds collected in the current year that were not
fully spent, and to the collection of reimbursements for the Golden Gate Drive Streetscape project. Fund
balance in the Parks, Culture and Arts function increased due to the collection of some large Public Arts
In -Lieu fees, totaling $0.6 million, from various developers. The decrease in Maintenance District
balances is largely due to capital expenditures for the Energy Efficiency Upgrade project. More
information about these aggregated non -major funds can be found in the combining statements following
the required supplementary information.
15
GENERAL FUND BUDGETARY HIGHLIGHTS
A summary of the budgetary comparison schedule for the General Fund is shown in Table 5 below. The
complete schedule, as required, is included in the supplementary information following the notes to the
financial statements.
TABLE 5: SUMMARY OF GENERAL FUND ORIGINAL AND FINAL BUDGET AND ACTUAL
Period Ending June 30, 2014
REVENUE
Taxes
Licenses and permits
Fines and forfeitures
Use of money & property
Intergovernmental
Charges for service
Budget Amounts
Original
44,757,450
2,775,180
138,260
1,234,240
183,620
7,109,220
Final
46,698,839
4,534,883
13 8,260
934,240
183,620
7,911,841
Actual
Amounts
48,534,887
5,944,985
111,715
1,496,503
191,574
9,227,796
Variance from
Final Budget
1,836,048
1,410,102
(26,545)
562,263
7,954
1,315,955
Other revenue
15757,840
21154,340
213641661
2105321
Total Revenue
5799559810
6295569023
6798729121
593169098
Community development
8,076,140
9,584,011
8,983,029
600,982
EXPENDITURES
General government
Public safety
Highways and streets
8,862,770
28,094,800
2,161,100
9,770,285
28,702,919
2,251,563
7,8885902 1,881,383
26,140,750 23562,169
21171,946 795617
Health and welfare
814,580
850,674
798,583
52,091
Culture and leisure
9,222,790
9,615,133
95306,037
309,096
Community development
8,076,140
9,584,011
8,983,029
600,982
Total expenditures
5792329180
6097749585
5592899247
594859338
OTHER FINANCING SOURCES (USES)
Transfer in 30,880 30,880 46,212 155332
Transfer out (834225370) (13,042,298) (10,3685453) 25673,845
Total other financing sources (uses) (8,3919490) (1390119418) (1093229241) 29689,177
NET CHANGE IN FUND BALANCE (796679860) (1152299980) 292609633 13,4909613
Over the course of the year, revisions were made to the City budget with adjustments that generally fall
into one of the following three categories:
• Adjustments to carry over operating budgets from the prior year.
• Adjustments to carry over capital expenditure budgets, typically in the form of transfers out to
capital improvement funds, from the prior year.
• Adjustments to revenue and expenditure budgets based on current economic conditions, new
revenue sources, and/or operational spending needs after the original budget was adopted.
16
In the General Fund total actual revenues exceeded the final budget by $5.3 million as of June 30, 2014,
due mainly to the following factors:
• Sales Tax: $763,366 higher than budget. This increase was a result of overall growth across
nearly all sectors. The Business and Industry sector and the Building and Construction sector
(which typically trends with development activity) showed the highest gains, at 52.6% and
18.8 %, respectively. However, there were some large retroactive corrections in the first quarter of
2014, which may have continued into the second quarter. As this data is analyzed, Staff will
continue to refine the FY 2014 -15 budget to take into account these one -time adjustments.
• Other Taxes: $967,790 higher than budget. Property Transfer Tax came in $251,000 higher,
linked to increased assessed valuations; high hotel occupancy and room rates brought Transient
Occupancy Tax revenue in $237,128 over budget; and Garbage franchise fee revenue came in
$480,960 above budget, due both to rate increases and expanded services.
• Building Permits: $1,265,228 higher than budget. The increase is related to the acceleration of
development activity that had been originally anticipated in FY 2014 -15. It is important to note
that these revenues are not long -term in nature, and that long -term forecasts incorporate a
significant reduction in such development - related income. Because there is a lag between the
receipt of revenue and the expense of related funds to provide the services, the City continues to
maintain a Service Continuity Reserve (currently at $2,410,000) to ensure that there are future
funds to cover expenditures when development activity slows.
• Interest Revenue: $434,545 higher than budget. This increase is due primarily to an accounting
adjustment for Fair Market Value. Actual interest income increased moderately, coming in
roughly $69,000 higher than budget.
• Charges for Services: $1,331,531 higher than budget. More than half of the increase was due to
higher Zoning fee revenue tied to the overall increase in development activity. Smaller gains
occurred in revenue from Family and Sports Programs.
• Community Benefit Payments: $262,648 higher than budget. The City does not typically budget
for these on an ongoing basis, unless there are some large, known payments at the beginning of
the year. With the accelerated development in FY 2013 -14, the City also received a number of
smaller payments that were related to existing development agreements.
General Fund expenditures came in $5.5 million lower than the final budget, primarily due to the
following factors:
• Salaries and Wages: $290,411 lower than budget. There was a high level of activity in FY 2013-
14 against capital project budgets, where Staff was allocated to sources other than the General
Fund. Additionally, a number of development - related and recreational program expenditure
budgets were adjusted upwards where there was a corresponding increase in revenue.
• Services and Supplies: $225,894 lower than budget. This was the net result of a number of
categories that were underspent during the fiscal year, including minor repairs and maintenance,
trainings, printing and binding, and insurance premiums.
17
• Contracted Services: $3,499,497 lower than budget. This is primarily due to significant variances
in the contracts with Alameda County for both Fire and Police services. The Fire contract
included a cost of living adjustment that was ultimately considerably lower, and the budget also
included a carryover of unused budget from the prior year. The Police Services contract included
both a contingency amount and a prior year carryover: these two contracts combined came under
budget by nearly $2,300,000. Other variances were related to development services, where
budgets were adjusted upwards to match related revenue increases. It should be noted that
roughly $923,000 in contracted service budgets have been carried over to FY 2014 -15, and the
General Fund reserves reflect the setting aside of funds to cover these.
• Contingency and Contributions: $914,470 lower than budget. This variance includes the budget
carryover from the prior year of contingencies for marketing and branding, an additional Fire
contingency, and the citywide contingency of $150,000.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets
The City's investment in capital assets for its governmental activities, as of June 30, 2013, amount to
$452 million (net of accumulated depreciation). These 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 Table 6 below. During FY 2013 -14, the City's investment in capital assets
increased by approximately $13.3 million (3.0 %), due to primarily to additions to infrastructure and to
project construction in progress.
TABLE 6: SUMMARY OF INVESTMENT IN CAPITAL ASSETS
June 30, 2014 and 2013
Governmental
Activities
June 30, 2014
June 30, 2013
$ Change
% Change
Land
171,301,925
166,506,225
4,795,700
2.9%
Streets right of way
359425,288
35,4255288
-
0.0%
Construction in Progress
32,5195388
14,9825025
17,5371363
117.1%
Infrastructure
383,7005250
3835700,250
-
0.0%
Buildings and Improvements
70,721,237
709721,237
-
0.0%
Machinery and Equipment
89354,971
8,2265627
128,344
1.6%
Sub -Total
70290239059
67995619652
2294619407
3.3%
Less Accumulated Depreciation
(250,364,887)
(2415160,079)
(9,2041808)
3.8%
Total Net of Depreciation
45196589172
43894019573
13,2569599
3.0%
The City continued its active Capital Improvement Program with significant progress made on a variety
of community assets. A comprehensive list of all UP expenditures during FY 2013 -14 is presented in
Table 7 below (this includes project costs that may not have any impact on changes to capital assets, such
as repairs or planning costs). For more detailed information of capital assets balances, see Note 6 to the
financial statements.
TABLE 7: SUMMARY OF CAPITAL IMPROVEMENT PROJECT ACTIVITY
As of June 30, 2014
PROJECT NAME
FINAL
BUDGET
ACTUAL
STATUS
GENERAL IMPROVEMENTS
$1596659759
$1393329394
Maintenance Yard Facility Improvements
9,027,950
7,894,349
In Progress
Electronic Agenda System
308,950
64,945
In Progress
Public Safety Complex
4,283,905
4,186,592
In Progress
Telephone System
$143,323
1209194
Complete
Energy Upgrade
1,1471414
906,618
In Progress
Network System Upgrade
326,332
12,539
In Progress
Geographic Information System
132,656
14,665
In Progress
Civic Center Modification Design & Construction
272,829
132,492
In Progress
ADA Transition Plan
223400
-
Annual
COMMUNITY IMPROVEMENTS
$869130
$229351
Tree Planting Project
1250
777
Complete
Sidewalk Safety Repair Program
849880
21,574
Annual
PARKS
$1893839695
$993789797
Emerald Glen Recreation & Aquatic Complex
9,5203631
1,975,216
In Progress
Passatempo Park
19726,586
1,534,947
In Progress
Positano Neighborhood Park
2099104
13,613
In Progress
Fallon Sports Park - Phase II
880,418
508,457
In Progress
Jordan Ranch Neighborhood Park
386,542
135,367
In Progress
Shannon Park Water Play Area
6349864
547,733
In Progress
Iron Horse Parkland Acquisition and Master Plan
4,727,200
41629,000
Complete
Tennis Court Resurfacing Project
298,350
34,464
In Progress
STREETS
$1190959322
$293829426
Accessible Pedestrian Signal Retrofit of Existing Traffic
Signals
289000
23,462
In Progress
Midblock Crosswalk Between Regional St. and Starwood
Dr.
206,930
33,685
In Progress
Citywide Signal Communications Upgrade
368,958
320,347
In Progress
Citywide Street Storm Drain Condition Assessment
147,443
100,476
In Progress
Dougherty Rd Improve. Sierra Lane to N. City Limit
438815215
760,826
In progress
Dublin Blvd. Improve. - Sierra Court to Dublin Court
675,358
131,629
In Progress
Dublin Ranch Street Light Pole Painting
29,911
Annual
Slurry Seal Program
19338,899
430,480
Annual
St. Patrick Way - Regional Street to Golden Gate Dr.
1,089,771
In Progress
Storm Drain Bypass San Ramon Road
771,744
5,031
In Progress
Storm Drain Trash Capture Project
1799019
583
In Progress
Street Overlay Program
1,211,467
559,227
Annual
West Dublin BART Golden Gate Drive Improvements
166,607
16,681
Com lete
TOTAL
$4592309906
$2591159968
1LI
Debt
In FY 2012 -13, the City entered into a lease financing arrangement to fund planned energy - efficient
improvements through an Energy Services Performance Contract with Chevron Solutions. The total
amount financed was $6.8 million, which was added to the City's long -term debt category, with an
average repayment of $0.6 million annually for fourteen years. FY 2013 -14 was the first year the City
began to repay this debt (see Note 7). For more detailed information of debt balances, see Note 7 to the
financial statements.
ECONOMIC FACTORS AND NEXT YEAR'S BUDGET
The City is currently preparing its budget for FY 2015 -16, which is the second year in a two -year budget
cycle. Although Property Tax and Sales Tax have shown significant gains in the last two years, contract
costs and ongoing maintenance of new facilities remains a concern in the long -term perspective.
As discussed in the Transmittal Letter, the current level of development revenue is not expected to
continue as the City nears build -out. While that is not likely to occur in the next five years, the City is
planning for that eventuality by shoring up funding now to fund future capital projects and bridge the
eventual gaps related to declines in revenue. The FY 2015 -16 operational budget will likely remain
largely unchanged from what was adopted in May 2014; however, increased property and sales taxes will
allow the City to consider one -time contributions to capital projects, contingency reserves, or to other
long -term liabilities. The next five -year forecast, which will be presented to the City Council in early
2015, will incorporate the gains experienced in FY 2014 -15, and will likely result in a balanced or surplus
budget in the short term.
With these things in mind, the City will continue to focus on the following primary goals: 1) Fully fund
current City operations; 2) Continue funding future capital endeavors now, through the setting aside of
specific reserves; and 3) Maintain adequate operating reserves over the long term.
Copies of the adopted Budget and Financial Plan are available online at www.dublin.ca.gov.
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. A copy of
this financial report is also located at the City's website — www.dublin.ca.gov.
Pic
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 2014
GOVERNMENT -WIDE FINANCIAL STATEMENTS
STATEMENT OF NET POSITION
AND STATEMENT OF ACTIVITIES
21
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CITY OF DUBLIN
STATEMENT OF NET POSITION
JUNE 30, 2014
Current assets:
Governmental
Activities
Cash and investments (Note 3) $161,1192599
Restricted cash (Note 3) 5462515
Prepaids 64,544
Accounts receivable 4,756,883
Accrued interest receivable 251,451
Total current assets 166,738,992
Noncurrent assets:
Notes receivable (Note 5) 10,320,132
OPEB asset- City of Dublin (Note 11A) 35,889
Capital assets (non - depreciable) (Note 6):
Land 171,301,925
Streets right of way 35,425,288
Construction in progress 32,519,388
Capital assets (depreciable) (Note 6):
Infrastructure 383,7002250
Building and improvements 70,7211237
Vehicles and equipment 8,354,971
Less accumulated depreciation (250,364,887)
Total capital assets 451,658,172
Total noncurrent assets 462,014,193
Total Assets 628,753,185
1_9/:`7NyyM
Current liabilities:
Accounts payable 12,537,672
Accrued wages and other payroll liabilities 671,121
Deposits payable 2,485,869
Contract retention payable 391,805
Other payables 307,851
Unearned revenue 495,626
Compensated absences - Due within one year (Note 1G) 685,474
Long term debt (Note 7):
Due in one year 378,995
Total current liabilities 17,954,413
Noncurrent liabilities
Net OPEB obligation - Dublin Regional Fire Authority (Note 11B) 303,366
Claims payables (Note 12) 195,057
Compensated absence (Note 1G) 293,774
Long -term debt (Note 7):
Due in more than one year 53749,811
Total noncurrent liabilities 6,542,008
Total Liabilities 24,496,421
NET POSITION (Note 8)
Net Investment in capital assets
445,529,366
Restricted for:
Public safety
1,486,169
Impact fee projects
435479,012
Highways and streets
551323469
Health and welfare
102535,801
Culture and leisure
175,089
Total restricted
602808,540
Unrestricted
97,9185858
Total Net Position
$604,256,764
See accompanying notes to financial statements
23
CITY OF DUBLIN
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2014
Governmental Activities:
General government
Public safety
Highways and streets
Health and welfare
Culture and leisure
Community development
Total Governmental Activities
General revenues:
Taxes
Property taxes
Sales tax
Other taxes
Total Taxes
Intergovernmental (unrestricted)
Miscellaneous
Unrestricted investment earnings (loss)
Total general revenues
Change in Net Position
Net position:
Beginning of year
End of year
Expenses
$17,665,221
27,770,111
4,305,390
4,057,796
9,018,161
9,169,788
Program Revenues
$715986,467 $199581,052 $1,674,815 $201914,994
See accompanying notes to financial statements
24
Operating
Capital
Charges for
Grants and
Contributions
Services
Contributions
and Grants
$1539544
$251089858
2,164,085
$390,532
201,663
4843801
7,397,352
3,631,344
1,179,691
2,6819731
2,753,911
104,592
8,5259390
10,393,367
$715986,467 $199581,052 $1,674,815 $201914,994
See accompanying notes to financial statements
24
Total
Program
Revenues
Net (Expense)
Revenue and
Changes in
Net Position
Governmental
Activities
$2,262,402
($1554025819)
2,756,280
(259013,831)
7,8825153
33576,763
7,492,766
3,434,970
11,383,893
2,365,732
10,393,367
152239579
$421170,861 (29,815,606)
25,286,308
17,833,314
5,427,627
48,547,249
191,574
125,211
853,147
49,717,181
19,901,575
584,355,189
$604,256,764
25
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CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 2014
FUND FINANCIAL STATEMENTS
The funds described below were determined to be Major Funds by the City in Fiscal Year 2013 -2014. Individual
non -major funds may be found in the Supplemental.
The General Fund - is the governments primary operating fund. It accounts for all financial resources of the
City, except those required to be accounted for in another fund.
The Affordable Housing Special Revenue Fund - is used to account for in -lieu fees received from developers of
properties, which can only be used for the design, development, and construction of citywide affordable housing
projects and/or support of affordable housing programs.
The General Improvements Projects Capital Projects Fund - is used to manage the programming of funds and
activities associated with major Capital Improvements Projects. The Fund accumulates resources for capital
expenditures and utilizes those resources to support projects that are general in nature and are not Streets, Parks,
or Community Improvements projects.
The Community Improvements Projects Capital Projects Fund - is used to manage the programming of funds
and activities associated with major Capital Improvements Projects. The Fund accumulates resources for capital
expenditures and utilizes those resources to support projects that would promote or enhance redevelopment,
revitalization, beautification of the City's infrastructure and are not General Improvements, Streets or Parks
related projects.
The Parks Projects Capital Projects Fund - is used to manage the programming of funds and activities
associated with major Capital Improvements Projects. The Fund accumulates resources for capital expenditures
and utilizes those resources to support projects that would construct, improve, or enhance the City's parks and
facilities.
The Streets Projects Capital Projects Fund - is used to manage the programming of funds and activities
associated with major Capital Improvements Projects. The Fund accumulates resources for capital expenditures
and utilizes those resources to support projects that would construct, improve, or enhance the City's trails,
highways, streets, roads, bridges, as well as street lighting, and storm drain systems.
The Public Facilities Impact 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 Fire Impact 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 fire capital expansion
projects within the City.
The Traffic Impact 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 street and highway projects
which serve as part of the City's transportation network.
The Dublin Crossing Contribution Capital Projects Fund — accounts for community benefit payments specific
to the Dublin Crossings Project, separate from any developer impact fees generated by the project.
27
ASSETS
Cash and investments (Note 3)
Prepaids
Accounts receivable
Accrued interest receivable
Notes receivable (Note 5)
Due from other funds (Note 413)
Advances to ISF PERS Side Fund (Note 4C)
Advances to other funds (Note 4C)
Total Assets
LIABILITIES
Accounts payable
Accrued wages and other payroll liabilities
Deposits payable
Contract retention payable
Other payables
Unearned revenue
Due to other funds (Note 413)
Advances from other funds (Note 4C)
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - loans receivable
Total Deferred Inflows of Resources
FUND BALANCES (DEFICITS) (Note 8)
Non Spendable
Restricted
Committed
Assigned
Unassigned
Total Fund Balances (Deficits)
CITY OF DUBLIN
GOVERNMENTAL FUNDS
BALANCE SHEET
JUNE 30, 2014
$991509242 $12,305
671,121
294669209 11,808
307,851
495,626
$3815443 $13,929 $6355641
3,317 245033
13,091,049 24,113 381,443 17,246 659,674
2,465,678
500,000
34,124,267
29,259,333
13,228,484
10,320,131
10,320,131
10,064,299
15,922
79,577,762 10,064,299 155922
Wo
1
4,966
4,966
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $92,6685811 $2054085543 $3975365 $18,100 $664,640
See accompanying notes to financial statements
Capital Projects Funds
Special Revenue Fund
General
Community
Affordable
Improvements
Improvements
Parks
General
Housing
Projects
Projects
Projects
$8259735398
$10,087,661
$392,697
$18,100
$664,640
27,080
3,6323475
750
45668
251,451
10,320,132
3,601,464
1,281,035
901,908
$9256685811
$20,408,543
$397,365
$18,100
$664,640
$991509242 $12,305
671,121
294669209 11,808
307,851
495,626
$3815443 $13,929 $6355641
3,317 245033
13,091,049 24,113 381,443 17,246 659,674
2,465,678
500,000
34,124,267
29,259,333
13,228,484
10,320,131
10,320,131
10,064,299
15,922
79,577,762 10,064,299 155922
Wo
1
4,966
4,966
Total Liabilities, Deferred Inflows of
Resources and Fund Balances $92,6685811 $2054085543 $3975365 $18,100 $664,640
See accompanying notes to financial statements
Capital Projects Funds
Public Fire Traffic Dublin
Streets Facilities Impact Impact Crossing
Projects hnpact Fees Fees Fees Contribution
$304,950 $32,4565053
$304,950 $32,456,053
$1358849074
290,454
$50,075
Other Total
Governmental Governmental
Funds Funds
$9,548,796 $150,380,444
27,080
7185885 456473232
251,451
10,320,132
3,601,464
1,281,035
901,908
$14,174,528 $50,075 $10,267,681 $171,410,746
$321,890 $5,449 $1,268,810 $405,038 $12,1943747
671,121
86 7,766 2,485,869
45561 13,575 45,486
307,851
495,626
3,1655057 436,407 3,601,464
$901,908 901,908
326,451 3,170,506 901,908 15268,896 862,786 20,704,072
10,320,131
10,320,131
29
2,465,678
29,285,547 1299055632
$50,075 9,404,895 62,210,448
34,146,009
29,259,333
(21,501) (901,908)
121305,075
(21,501) 29,2855547 (9015908) 12,9059632
50,075 954049895 140,386,543
$3049950 $32,4569053 $149174,528
$50,075 $10,26701 $17194109746
29
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CITY OF DUBLIN
Reconciliation of the
GOVERNMENTAL FUNDS -- BALANCE SHEET
with the
STATEMENT OF NET POSITION
JUNE 30, 2014
Total fund balances reported on the governmental funds balance sheet
Amounts reported for Governmental Activities in the Statement of Net Position
are different from those reported in the Governmental Funds above because of the following:
CAPITAL ASSETS
Capital assets used in Governmental Activities are not current assets or financial resources and
therefore are not reported in the Governmental Funds.
ALLOCATION OF INTERNAL SERVICE FUND NET POSITION
Internal service funds are not governmental funds. However, they are used by management to
charge the costs of certain activities, such as insurance and central services and maintenance
to individual governmental funds. The net current assets of the Internal Service Funds are therefore
included in Governmental Activities in the following line items in the Statement of Net Position
Cash and investments
Restricted cash
Prepaid items
Accounts receivable
Capital assets
Accounts payable and accruals
Contract retentions payable
Interfund balance
Capital lease
$10,739,155
546,515
37,464
109,651
51,659,233
(342,925)
(346,319)
(1,281,035)
(6,1289806)
ACCRUAL OF NON - CURRENT REVENUES AND EXPENSES
Revenues which are deferred on the Fund Balance Sheets because they are not available currently
are taken into revenue in the Statement of Activities.
LONG -TERM ASSETS AND LIABILITIES
The assets and liabilities below are not due and payable in the current period and therefore are not
reported in the Funds:
OPEB asset - City of Dublin 35,889
OPEB obligation - Dublin Regional Fire Authority (303,366)
Compensated absences (979,248)
Non - current portion of general liability claims (1957057)
NET POSITION OF GOVERNMENTAL ACTIVITIES
See accompanying notes to financial statements
01
$140,386,543
39959985939
54,992,933
10,320,131
(1,441,782)
$604,256,764
CITY OF DUBLIN
GOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2014
Special
Revenue Fund
Affordable
General Housing
REVENUES
Property taxes
$25,286,307
Sales tax
17,820,966
Other taxes
5,4275628
Intergovernmental
191,574
Licenses and permits
5,944,985
Charges for service
9,227,782
$49,972
Interest
788,413
60,982
Use of property
708,090
883,694
Fines and forfeitures
111,715
Developer fees
236225681
Other revenue
213645661
Special assessments
Total Revenues
67,872,121
35617,329
EXPENDITURES
Current:
General Government
7,888,902
12,244
Public safety
269140,750
Highways and streets
2,1717946
Health and welfare
798,583
561,202
Cultural and leisure
9,306,037
Community development
85983,029
Capital outlay:
General improvements
Community improvements
Culture and leisure
Streets
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in (Note 4A)
Transfers (out) (Note 4A)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
BEGINNING FUND BALANCES (DEFICIT)
ENDING FUND BALANCES (DEFICIT)
Capital Projects Funds
General Community
Improvements Improvements Parks
Projects Projects Projects
$13,316,472
$21,497
$9,373,830
559289,247 5735446 139316,472 219497 99373,830
12,5825874 3,0439883 (13,316,472) (21,497) (9,373,830)
46,212 69600
(109368,453)
13,332,394 225351 9,378,796
(10,322,241) 6,600 13,332,394 22,351 95378,796
252609633 3,050,483
775317,129 7,0133816
15,922
854 4,966
$799577,762 $10,064,299 $15,922 $854 $45966
See accompanying notes to financial statements
32
Streets Facilities
Projects Impact Fees
$2,403,926
Projects Funds
Fire Traffic Dublin
Impact Impact Crossing
Fees Fees Contribution
Other
Governmental
Funds
Total
Governmental
Funds
$161,947 $25,4489254
520,539
18,3419505
4,965 1,2359782
5,427,628
213825585
2,574,159
3,019,849
5,944,985
330495094
12,326,848
$1495426 $57,200 $76 45,537
1,101,634
1969699
1,591,784
211,886
323,601
736145380 $201,664 4,716,876 49,999 551,468
15,757,068
3489337
2,712,998
190259239
1,0255239
7,763,806 201,664 4,774,076 50,075 8,2965632
92,575,703
77,827
510,361
8,4119507
4,965 1,2359782
275381,497
8705530
3,0429476
3,019,849
4,3793634
43,692
95349,729
8,181 111,524
99102,734
13,316,472
21,497
9,451,657
2,403,926
2,403,926
77,827
49965
518,542
592819377
86,8615129
(2,4035926)
7,685,979
1969699
4,255,534
50,075 3,015,255
59714,574
25382,425
23,490
25,1929268
(7,3909307)
(892,455)
(1,734,308)
(20,3859523)
25382,425
(753905307)
(8929455)
(1,710,818)
4,806,745
(215501)
295,672
196,699
353639079
503075 1,304,437
1095219319
28,989,875
(1,0985607)
9,5429553
8,100,458
12938653224
($21,501)
$2992853547
($901,908)
$12,905,632
$503075 $9,404,895
$140,386,543
33
CITY OF DUBLIN
Reconciliation of the
NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS
with the
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2014
The schedule below reconciles the Net Changes in Fund Balances reported on the Governmental Funds Statement of
Revenues, Expenditures and Changes in Fund Balance, which measures only changes in current assets and current
liabilities on the modified accrual basis, with the Change in Net Position of Governmental Activities reported in the
Statement of Activities, which is prepared on the full accrual basis.
NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS $10,521,319
Amounts reported for governmental activities in the Statement of Activities
are different because of the following:
CAPITAL ASSET TRANSACTIONS
Governmental Funds report capital outlays as expenditures. However,
in the Statement of Activities the cost of those assets is capitalized and allocated over
their estimated useful lives and reported as depreciation expense.
Capitalized expenditures are therefore added back to fund balance 189327,702
Depreciation expense is deducted from the fund balance. The amount excludes the
depreciation of $2,448,580 for Internal Service Funds (79463,325)
ACCRUAL OF NON - CURRENT ITEMS
The amounts below included in the Statement of Activities do not provide or (require) the use of
current financial resources and therefore are not reported as revenue or expenditures in
governmental funds (net change):
Unearned revenue (454,025)
Compensated absences (825590)
Claims liability 76,857
OPEB asset - City of Dublin 185172
OPEB obligation - Dublin Regional Fire Authority (13,067)
ALLOCATION OF INTERNAL SERVICE FUND ACTIVITY
Internal Service Funds are used by management to charge the costs of certain activities,
such as equipment acquisition, maintenance, and insurance to individual funds.
The portion of the net revenue (expense) of these Internal Service Funds arising out
of their transactions with governmental funds is reported with governmental activities,
because they service those activities.
Change in Net Assets - All Internal Service Funds (1,029,468)
CHANGE IN NET POSITIONS OF GOVERNMENTAL ACTIVITIES $19,901,575
See accompanying notes to financial statements
011
CITY OF DUBLIN
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES
Property taxes
Sales tax
Other taxes
Intergovernmental
Licenses and permits
Charges for services
Interest
Use of property
Fines and forfeitures
Other revenue
Total Revenues
EXPENDITURES
Current:
General government
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in (Note 4A)
Transfers (out) (Note 4A)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE
►It I► 1►1� C ��f��
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 305 2014
Budgeted Amounts
Original
$24,153,050
16,271,400
4,333,000
183,620
2,775,180
7,109,220
652,970
581,270
138,260
1,757,840
57,955,810
8,862,770
28,094,800
2,161,100
814,580
9,222,790
8,076,140
Final
$25,169,054
17,069,948
4,459,837
183,620
4,534,883
7,911,841
352,970
581,270
138,260
2,154,340
62,556,023
9,770,285
28,702,919
2,251,563
850,674
9,615,133
9,584,011
Actual Amounts
$25,286,307
17,820,966
5,427,628
191,574
5,944,985
9,227,782
788,413
708,090
111,715
2,364,661
67,872,121
7,888,902
26,140,750
2,171,946
798,583
9,306,037
8,983,029
Variance with
Final Budget
Positive
(Negative)
$117,253
751,018
967,791
7,954
1,410,102
1,315,941
435,443
126,820
(26,545)
210,321
5,316,098
1,881,383
2,562,169
79,617
52,091
309,096
600,982
57,232,180 60,774,585 55,289,247 5,485,338
7233630 19781,438 12,582,874 10, 801,436
30,880
(8,422,370)
(8,391,490)
46,212
(139057,630)
(139011,418)
($7,6675860) ($11,229,980)
See accompanying notes to financial statements
35
46,212
(10,3683453)
2,689,177
(10,3225241) 256899177
2,260,633
77,317,129
$79,5775762
$13,4909613
CITY OF DUBLIN
AFFORDABLE HOUSING SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES:
Interest
Loan repayment
Charges for services
Developer fees
Total Revenues
EXPENDITURES:
Current:
General government
Health and welfare
Total Expenditures
REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in (Note 4A)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE
ENDING FUND BALANCE
Budgeted Amounts
Original
$90,750
47,600
787.750
Final
$90,750
47,600
2,500,000
Actual Amounts
$60,982
883,694
49,972
2,622,681
Variance with
Final Budget
Positive
(Negative)
($29,768)
883,694
2,372
122,681
9263100 2,638,350 39617,329 978,979
2%550
29,550
129244
173306
643,590
822,893
5619202
261,691
673,140
852,443
5739446
278,997
252,960
1,785,907
390439883
152575976
600 6,600 600
63600 65600 6,600
$259,560 $1,7925507
See accompanying notes to financial statements
9T
35050,483 $1,2573976
7,013,816
$1030645299
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 2014
PROPRIETARY FUNDS
Proprietary funds account for City operations financed and operated in a manner similar to a private business
enterprise. The intent of the City is that the cost of providing goods and services be financed primarily through user
charges.
UFA
CITY OF DUBLIN
PROPRIETARY FUNDS
STATEMENT OF NET POSITION
JUNE 30, 2014
Governmental
Activities -
lnternal Service
Funds
ASSETS
Current Assets:
Cash and investments (Note 3) $10,739,155
Restricted cash (Note 3) 546,515
Prepaid items 37,464
Accounts receivable 109,651
Total current assets 11,4325785
Noncurrent Assets:
Capital assets (Note 6):
Land 103774,792
Construction in progress 4,929,720
Building and improvements 62,115,075
Vehicles and equipment 63646,353
Less: accumulated depreciation (325806,707)
Total noncurrent assets 51,659,233
Total Assets 63,092,018
LIABILITIES
Current Liabilities:
Accounts payable and accruals 3425925
Contract retentions payable 346,319
Capital lease (Note 7) 378,995
Total current liabilities 1,068,239
Non - Current Liabilities:
Capital lease (Note 7) 59749,811
Advances from other funds (Note 4C) 1,2815035
Total Liabilities 8,099,085
NET POSITION (Note 8)
Net investment in capital assets 51,659,233
Unrestricted 3,333,700
Total Net Position $549992,933
See accompanying notes to financial statements
CITY OF DUBLIN
PROPRIETARY FUNDS
STATEMENT OF REVENUE, EXPENSES
AND CHANGES IN FUND NET POSITION
FOR THE YEAR ENDED JUNE 30, 2014
Governmental
Activities -
Internal Service
Funds
OPERATING REVENUES
Charges for services $4,193,153
Other revenue 511,696
Total Operating Revenues 4,704,849
OPERATING EXPENSES
Supplies and services 986,027
OPEB expenses 1,741,256
Depreciation 2,448,580
Interest and fiscal charges 172,949
Total Operating Expenses 5,348,812
Operating Loss (643,963)
NONOPERATING REVENUES
Interest income 64,734
Gain from sales of property 28,489
Total Nonoperating Revenues 93,223
Loss Before Contributions and Transfers (5502740)
Contributions 49328,017
Transfer out (Note 4A) (4,806,745)
Change in net position (1,029,468)
Net Position - Beginning of year 56,022,401
Net Position - Ending of year $54,992,933
See accompanying notes to financial statements
39
CITY OF DUBLIN
PROPRIETARY FUNDS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2014
Governmental
Activities -
Internal Service
Funds
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from other funds $4,220,317
Payments to suppliers and service providers (2,8059090)
Otherrevenues 5115696
Net cash flows from operating activities 15926,923
CASH FLOWS FROM NONCAPTTAL
FINANCING ACTIVITIES
Contributions from other funds 493285017
Payments to other funds (591689478)
Cash Flows from Noncapital Financing Activities (8409461)
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Interest paid on capital lease (172,949)
Capital lease repayment (6279018)
Purchase of capital assets (458879396)
Proceeds from sales of capital assets 285489
Cash Flows from Capital and Related Financing Activities (5,658,874)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 64,734
Cash Flows from Investing Activities 64,734
Net Cash Flows (4,507,678)
Cash and investments at beginning of year 15,793,348
Cash and investments at end of year $115285,670
Reconciliation of operating loss to
net cash provided by operating activities:
Operating loss ($643 963)
Adjustments to reconcile operating loss to
net cash provided by operating activities:
Depreciation 2,448,580
Interest and fiscal charges 1725949
Change in assets and liabilities:
Accounts receivable 8,421
Prepaid items 49401
Accounts payable and accruals (639465)
Net cash flows from operating activities $1,926,923
See accompanying notes to financial statements
.o
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Year Ended June 30, 2014
FIDUCIARY FUNDS
Agency funds are used to account for assets held by the City as an agent for individuals, private organizations,
and other governments. The financial activities of these funds are excluded from the Entity -wide financial
statements, but are presented in separate Fiduciary Fund financial statements.
C11
CITY OF DUBLIN
FIDUCIARY FUNDS
STATEMENT OF FIDUCIARY NET POSITION
JUNE 30, 2014
Agency
Fund
ASSETS
Cash and investments (Note 3) $256539168
Accounts receivable 7,825
Due from trustee 1,800
Total Assets $29662,793
LIABILITIES
Accounts payable $29475
Due to City 1,800
Due to trustee 2,650,400
Due to bondholders 8,118
Total Liabilities $2,6625793
See accompanying notes to financial statements
42
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements and accounting policies of the City conform with generally accepted accounting
principles applicable to governments. The Governmental Accounting Standards Board (GASB) is the
accepted standard- setting body for establishing governmental accounting and financial reporting principles.
Significant accounting policies are summarized below:
A. Reporting Entity
The City is a residential community with a significant regional commercial base, located in the TriValley
area of Alameda County, California at the crossroads of Interstate Freeways 580 and 680. The City was
incorporated as a municipal corporation on February 1, 1982. The total population estimate published by
the California Department of Finance for January 1, 2014 was 49,890. This figure includes prisoners
housed at the Alameda County Sheriffs Department Santa Rita Jail and at the Federal Correctional
Institute. The City of Dublin was ranked based on total population at #164 out of 482 cities within
California.
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, 2014, the City's staff was comprised of 91.5
authorized permanent employees who were responsible for City- provided services. The City provides many
traditional municipal services through contracts with both public and private agencies. Approximately
125.4 contract employees provide a variety of municipal services from City facilities. As of June 30, 2014,
the City had approximately 159 temporary and seasonal personnel that were on active payroll status.
B. Basis of Presentation
The City's Basic Financial Statements are prepared in conformity with accounting principles generally
accepted in the United States of America. The Government Accounting Standards Board is the
acknowledged standard setting body for establishing accounting and financial reporting standards followed
by governmental entities in the U.S.A.
These Standards require that the financial statements described below be presented.
Government -wide Statements: The Statement of Net Position and the Statement of Activities display
information about the primary government (the City). These statements include the financial activities of
the overall City government, except for fiduciary activities. Governmental activities generally are financed
through taxes, intergovernmental revenues, and other nonexchange transactions.
The Statement of Activities presents a comparison between direct expenses and program revenues for each
function of the City's governmental activities. Direct expenses are those that are specifically associated
with a program or function and, therefore, are clearly identifiable to a particular function. Program
revenues include (a) charges paid by the recipients of goods or services offered by the programs, (b) grants
and contributions that are restricted to meeting the operational needs of a particular program and (c) fees,
grants and contributions that are restricted to financing the acquisition or construction of capital assets.
Revenues that are not classified as program revenues, including all taxes, are presented as general
revenues.
ERR]
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Fund Financial Statements. The fund financial statements provide information about the City's funds,
including fiduciary funds. Separate statements for each fund category — governmental, proprietary, and
fiduciary — are presented. The emphasis of fund financial statements is on major individual governmental
and enterprise funds, each of which is displayed in a separate column. All remaining governmental and
enterprise funds are aggregated and reported as nonmajor funds.
Proprietary fund operating revenues,
such
as charges for services, result
from exchange transactions
associated with the principal activity
of the
fund. Exchange transactions are those in which each party
receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment
earnings, result from nonexchange transactions or ancillary activities.
C. Major Funds
Major funds are defined as funds that have either assets, liabilities, revenues or expenditures /expenses
equal to ten percent of their fund -type total and five percent of the grand total. The General Fund is always
a major fund. The City may also select other funds it believes should be presented as major funds.
The City reported the following major governmental funds in the accompanying financial statements:
The General Fund - is the governments primary operating fund. It accounts for all financial resources of
the City, except those required to be accounted for in another fund.
The Affordable Housing Special Revenue Fund - is used to account for in -lieu fees received from
developers of properties, which can only be used for the design, development, and construction of citywide
affordable housing projects and/or support of affordable housing programs.
The General Improvements Projects Capital Projects Fund - is used to manage the programming of funds
and activities associated with major Capital Improvements Projects. The Fund accumulates resources for
capital expenditures and utilizes those resources to support projects that are general in nature and are not
Streets, Parks, or Community Improvements projects.
The Community Improvements Projects Capital Projects Fund - is used to manage the programming of
funds and activities associated with major Capital Improvements Projects. The Fund accumulates resources
for capital expenditures and utilizes those resources to support projects that would promote or enhance
redevelopment, revitalization, beautification of the City's infrastructure and are not General Improvements,
Streets or Parks related projects.
The Parks Projects Capital Projects Fund - is used to manage the programming of funds and activities
associated with major Capital Improvements Projects. The Fund accumulates resources for capital
expenditures and utilizes those resources to support projects that would construct, improve, or enhance the
City's parks and facilities.
The Streets Projects Capital Projects Fund - is used to manage the programming of funds and activities
associated with major Capital Improvements Projects. The Fund accumulates resources for capital
expenditures and utilizes those resources to support projects that would construct, improve, or enhance the
City's trails, highways, streets, roads, bridges, as well as street lighting, and storm drain systems.
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The Public Facilities Impact 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 Fire Impact 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 fire capital
expansion projects within the City.
The Traffic Impact 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 street and
highway projects which serve as part of the City's transportation network.
The Dublin Crossing Contribution Capital Projects Fund — accounts for community benefit payments
specific to the Dublin Crossings Project, separate from any developer impact fees generated by the project.
The City also reports the following fund types:
Internal Service Funds — Account for replacement of assets and internal charges collected for the purpose
of funding retirement plan side -fund obligations, post- retirement healthcare activities, and the financing
and funding for the energy efficiency capital lease project. These activities are provided to City
departments on a cost - reimbursement basis.
Fiduciary Funds — The City maintains one type of Fiduciary Funds - Agency Funds. The financial
activities of these funds are excluded from the Government -wide financial statement, but are presented in
separate Fiduciary Fund financial statements. Agency Funds are used to account for assets held by the City
as an agent for the following purposes:
The Dublin Boulevard Extension Assessment District is an Agency Fund, which is used to account for
amounts held for debt service on the Dublin Boulevard Extension Project. The Agency Fund is custodial in
nature (assets equal liabilities) and therefore does not involve 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.
The Associated Community Action Program (ACAP) is an Agency Fund. The City acts as the fiscal agent
to collect and account for the contributions received and to coordinate administrative services leading to
the agency ceasing its operation. ACAP is a Joint Powers Authority (JPA), whose members include the
Alameda County and eleven of the thirteen incorporated cities in the County. (The cities of Berkeley and
Oakland are not members). The JPA was formed to provide and administer social service related
programs. The Agency fund is custodial in nature (assets equal liabilities) and therefore does not involve
measurement of results of operations.
The Fallon Village, Schaefer Ranch, Fallon Village Annex/Jordan Ranch, and Fallon Crossing Geological
Hazard Abatement Districts (GHAD) are Agency Funds. Each fiscal year, the District Engineer prepares
an Engineer's Report which includes the budget for the GHADs for that year. The annual budget consists of
regular site monitoring, annual inspections, contract services for annual mitigation and repairs, and
administrative costs. The funds collected through special assessment are placed into a dedicated reserve
fund. The reserve fund is set aside to be used to mitigate and repair large, geologic hazards, such as
landsides in the respective Subdivisions.
M
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
D. Basis ofAccounting
The government -wide and proprietary financial statements are reported using the economic resources
measurement focus and the full accrual basis of accounting. Revenues are recorded when earned and
expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take
place.
Governmental funds are reported using the current financial resources measurement focus and the
modified accrual basis of accounting. Under this method, revenues are recognized when measurable and
available. The City considers all revenues reported in the governmental funds to be available if the
revenues are collected within sixty days after year -end. Expenditures are recorded when the related fund
liability is incurred, except for principal and interest on general long -term debt, claims and judgments, and
compensated absences, which are recognized as expenditures to the extent they have matured.
Governmental capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of
governmental long -term debt and acquisitions under capital leases are reported as other financing sources.
Those revenues susceptible to accrual at both the City -wide and Fund level are property, sales and
franchise taxes, current service charges, and interest revenue. Fines and licenses and permits are not
susceptible to accrual because they are not measurable until received in cash.
Non - exchange transactions,
equal value in exchange, inc
taxes is recognized in the
entitlements, and donations
satisfied.
in which the City gives or receives value without directly receiving or giving
lude taxes, grants, entitlements, and donations. On the accrual basis, revenue from
fiscal year for which the taxes are levied or assessed. Revenues from grants,
are recognized in the fiscal year in which all eligibility requirements have been
Grant revenues are recognized in the fiscal year in which all eligibility requirements are met. Under the
terms of grant agreements, the City may fund certain programs with a combination of cost - reimbursement
grants, categorical block grants, and general revenues.
Certain indirect costs are included in program expenses reported for individual functions and activities.
As a general rule, the effect of interfund activity has been eliminated from the government -wide financial
statements. Exceptions to this general rule are payments -in -lieu of taxes and other charges between the
government's business -type activities and various other functions of the government. Elimination of these
charges would distort the direct costs and program revenues reported for the various functions concerned.
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services,
or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions,
including special assessments. Internally dedicated resources are reported as general revenues rather than
as program revenues. Likewise, general revenues include all taxes.
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the
City's internal service funds are charges to customers for sales and services. Operating expenses for
internal service funds include the cost of sales and services, administrative expenses, and depreciation on
capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues
and expenses.
E. Property Tax Revenues
Alameda County assesses properties and bills, collects, and distributes property taxes to the City. The
County remits the entire amount paid and handles the collection of all delinquencies. The City receives
proportionate shares of prior year collections including interest and penalties. Secured and unsecured
property taxes are levied on January 1 of the preceding fiscal year. The property tax assessments are
formally due on November 1 and February I, and become delinquent after December 10 and April 10,
respectively. Taxes become a lien on the property effective January 1 of the preceding year.
F. 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.
G. Compensated Absences
The City records a long -term compensated absences liability to recognize the financial effect of unused
general leave and other accrued compensated leave. The liability will be paid from future resources
primarily from the general fund.
Compensated absences activities were as follows for the year ended June 30, 2014:
Beginning Balance
Additions
Payments
Ending Balance
Current Portion
Compensated
General Leave heave Total
$878,421
921,528
$18,237
39,515
$896,658
961,043
(854,775) (23,678) (8785453)
$945,174 $34,074 $979,248
$661,622 $235852 $685,474
47
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
H. Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid
costs in both government -wide and fund financial statements, using the consumption method. Prepaid costs in
governmental funds are equally offset with nonspendable fund balance to indicate they do not constitute
resources available for appropriation. Prepaids in governmental funds are treated using the consumption
method, where the prepaid expenditure is recognized in the period in which the service is provided or the item
is put into use.
L Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles
(GAAP) requires management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates.
J. New Funds and Closed Funds
In fiscal year 2013 -2014, the City created the following new funds:
The Dublin Crossing Contribution Capital Projects Fund — This fund accounts for community benefit
payments specific to the Dublin Crossings Project, separate from any developer impact fees generated by
the project.
Citywide Events Fund (Customer Service) - Established to account for event ticket sales and donations, to
be spent on special events citywide.
In fiscal year 2013 -2014, the City consolidated some funds for financial statements presentation. The
Measure D Recycling Fund, Garbage Service Fund, and Local Recycling Fund were combined to form the
Garbage/Recycling Fund. The Storm Water Management Fund, Dublin/Dougherty Storm Water
Management Fund and Village Parkway Storm Water Management Fund were combined to form the Storm
Water Management Fund. The Cable TV Facilities Fund, Noise Mitigation Fund and the newly established
Citywide Events (Customer Service) Fund were combined to form the Miscellaneous Revenue Fund.
K. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position or balance sheet will sometimes report a separate
section for deferred outflows of resources. This separate financial statement element, deferred outflows of
resources, represents a consumption of net position or fund balance that applies to a future period(s) and so
will not be recognized as an outflow of resources (expense /expenditure) until then.
In addition to liabilities, the statement of financial position or balance sheet will sometimes report a
separate section for deferred inflows of resources. This separate financial statement element, deferred
inflows of resources, represents an acquisition of net position or fund balance that applies to a future
period(s) and so will not be recognized as an inflow of resources (revenue) until that time.
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 2 — BUDGETS AND BUDGETARY ACCOUNTING
The City follows these procedures in establishing the budgetary data reflected in the basic financial
statements:
➢ 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.
➢ The public is
given an
opportunity to comment
on the budget at a noticed City Council meeting. Prior
to July 1, the
budget is
legally enacted through
passage of a resolution.
➢ The City Manager is authorized to transfer budgeted amounts between line items, provided that the
transfer is within the same fund, regardless of the specific department activity. This include the
authority to transfer from the General Fund budgeted contingency amounts that are approved by the
City Council during the budget adoption. The City Manager is authorized to increase revenue and
expenditure budget for various departmental functions, when the net budget impact is zero.
➢ Formal
budgetary integration
is employed as
a management control device during the year for the
general
fund, special revenue
funds and capital
projects funds.
➢ Budgets for the general, special revenue and capital projects funds are adopted on a basis consistent
with generally accepted accounting principles in the United States.
➢ The City Manager is authorized to increase the appropriations for the following fiscal year in an
amount not to exceed the amount of funds encumbered or designated by the City Manager as needed
for expenses that did not occur prior to the year -end, but are expected to be expended in the next year
consistent with the original purpose.
➢ As part of the annual Budget adoption the City Council authorizes Staff to carry-over unexpended
capital project appropriations, for those projects where work and expenditures will continue in the
subsequent year.
NOTE 3 — CASH AND INVESTMENTS
The City's dependence on property tax receipts, which are received semi - annually, requires it to maintain
significant cash reserves to finance operations during the remainder of the year. The City pools cash as
described under the policy section below.
A. Policies
California Law requires banks and savings and loan institutions to pledge government securities with a market
value of 110% of the City's cash on deposit, or first trust deed mortgage notes with a market value of 150% of
the deposit, as collateral for these deposits. Under California law, this collateral is held in a separate
investment pool by another institution in the City's name and places the City ahead of general creditors of the
institution.
The City pools cash from all sources and all funds, except certain specific investments within funds and cash
with fiscal agents, so that it can be invested at the maximum yield, consistent with safety and liquidity, while
individual funds can make expenditures at any time.
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 3 - CASH AND INVESTMENTS (Continued)
The City and its fiscal agents invest in individual investments and in investment pools. Individual investments
are evidenced by specific identifiable pieces of paper called security instruments, or by an electronic entry
registering the owner in the records of the institution issuing the security, called the book entry system.
Individual investments are generally made by the City's fiscal agents as required under its debt issues. In
order to maximize security, the City employs the Trust Department of a bank as the custodian of all City
managed investments, regardless of their form.
The City's investments are carried at fair value, as required by generally accepted accounting principles. The
City adjusts the carrying value of its investments to reflect their fair value at each fiscal year end, and it
includes the effects of these adjustments in income for that fiscal year.
B. Classification
Cash and investments are classified in the financial statements as shown below, based on whether or not
their use is restricted under the terms of City agreements.
City:
Cash and investments $16191189701
Restricted cash and investments 5465515
Total City cash and investments 161,6659216
Fiduciary Funds (separate statement):
Cash and investments 236545066
Total Fiduciary Funds cash and investments 29654,066
Total cash and investments $164,3195282
Cash and investments as of June 30, 2014, consist of the following:
Cash on hand $35354
Deposits with financial institutions 253039025
Investments 1629012,903
Total cash and investments $16453195282
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.
50
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 3 - CASH AND INVESTMENTS (Continued)
C.
D.
Investments Authorized by the California Government Code and the City's Investment Policy
The City's Investment Policy and the California Government Code allow the City to invest in the following,
provided the credit ratings of the issuers are acceptable to the City; and approved percentages and maturities
are not exceeded. The table below also identifies certain provisions of the California Government Code, or
the City's Investment Policy where the City's Investment Policy is more restrictive.
Interest Rate Risk
Maximum
Investment
In One Issuer
20%
20% of Portfolio
No Limit
40%
No Limit
20% of Portfolio
No Limit
No Limit
5%
5%
No Limit
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an
investment. Normally, the longer the maturity of an investment, the greater the sensitivity of its fair value
to changes in market interest rates. The City generally manages its interest rate risk by holding investments
to maturity.
Information about the sensitivity of the fair values of the City's investments (including investments held by
bond trustees) to market interest rate fluctuations is provided by the following table that shows the
distribution of the City's investments by maturity or earliest call date:
12 Months 13 to 24 25 to 60
Investment Type or less Months Months Total
Asset- Backed Securities
U.S. Treasury Notes
Medium -Term Notes
U.S. Government Agency Securities
Local Agency Investment Fund
California Asset Management Program
Money Market Funds
Total Investments
$75031,761
Minimum
Maximum
8,010,704 $5,993,203
Maximum
Credit
Percentage
Authorized Investment Type
Maturity
Quality
of Portfolio
Negotiable Certificates of Deposit
5 years
AA/A -1
30%
Bankers' Acceptances
180 days
A -1
40%
U.S. Treasury Bills and Notes
5 years
N/A
No Limit
U.S. Government Agency Securities
5 years
N/A
25% for callable
California Asset Management Program
N/A
N/A
No Limit
Commercial Paper
270 days
A -1
25%
Time Certificates of Deposit
1 year
N/A
10%
State Local Agency Investment Fund
N/A
N/A
75%
Asset - Backed Securities
N/A
AA
20%
Medium Term Notes
5 years
A
30%
Money Market Funds
N/A
AAA
20%
Interest Rate Risk
Maximum
Investment
In One Issuer
20%
20% of Portfolio
No Limit
40%
No Limit
20% of Portfolio
No Limit
No Limit
5%
5%
No Limit
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an
investment. Normally, the longer the maturity of an investment, the greater the sensitivity of its fair value
to changes in market interest rates. The City generally manages its interest rate risk by holding investments
to maturity.
Information about the sensitivity of the fair values of the City's investments (including investments held by
bond trustees) to market interest rate fluctuations is provided by the following table that shows the
distribution of the City's investments by maturity or earliest call date:
12 Months 13 to 24 25 to 60
Investment Type or less Months Months Total
Asset- Backed Securities
U.S. Treasury Notes
Medium -Term Notes
U.S. Government Agency Securities
Local Agency Investment Fund
California Asset Management Program
Money Market Funds
Total Investments
$869303,595 $34,208,023 $41,501,285 $1629012,903
51
$75031,761
$7,031,761
$10,363,477
8,010,704 $5,993,203
2453673384
8,312,025
25044,584 109627,033
20,9833642
145041,261
1791205974 24,881,049
56,043,284
4997329909
4997323909
39500,510
39500,510
3539413
353,413
$869303,595 $34,208,023 $41,501,285 $1629012,903
51
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 3 - CASH AND INVESTMENTS (Continued)
The City is a participant in the Local Agency Investment Fund (LAIF) that is regulated by California
Government Code Section 16429 under the oversight of the Treasurer of the State of California. The City
reports its investment in LAIF at the fair value amount provided by LAIF, which is the same as the value of
the pool share. The balance is available for withdrawal on demand, and is based on the accounting records
maintained by LAY, which are recorded on an amortized cost basis. Included in LAIF's investment
portfolio are collateralized mortgage obligations, mortgage- backed securities, other asset - backed securities,
loans to certain state funds, United States Treasury Notes and Bills, and floating rate securities issued by
federal agencies, government- sponsored enterprises, and corporations. At June 30, 2014, these investments
matured in an average of 232 days.
The City is a participant in the California Asset Management Program (CAMP). CAMP is an investment
pool offered by the California Asset Management Trust (the Trust). The Trust is a joint powers authority
and public agency created by the Declaration of Trust and established under the provisions of the
California Joint Exercise of Powers Act (California Government Code Sections 6500 et seq., or the "Act ")
for the purpose of exercising the common power of its Participants to invest certain proceeds of debt issues
and surplus funds. The Pool's investments are limited to investments permitted by subdivisions (a) to (n),
inclusive, of Section 53601 of the California Government Code. The City reports its investments in CAMP
at the fair value amounts provided by CAMP, which is the same as the value of the pool share. At June 30,
2014, the fair value approximated is the City's cost. At June 30, 2014, these investments have an average
maturity of 41 days.
The City's
investments include Asset - Backed
Securities
in the amount of $7,031,761 that are highly
sensitive to
interest rate fluctuations to a greater
degree than
already indicated above.
E. Credit Risk
Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the
investment. This is measured by the assignment of a rating by a nationally recognized statistical rating
organization. The actual ratings as of June 30, 2014 were provided by Standard and Poor's investment
rating system except as noted. The Local Agency Investment Fund was not rated as of June 30, 2014,
Investment Type
Asset - Backed Securities
U.S. Treasury Notes
Medium -Term Notes
California Asset Management Program
U.S. Government Agency Securities
Money Market Funds
Totals
Not rated:
State Local Agency Investment Fund
Total Investments
$7,031,761
$24,367,384
3,500,510
56,043,284
353,413
A+
$20,9835642
$10,885,684 $80,410,668 $20,983,642
52
Total
$7,031,761
24,367,384
20,983,642
3,500,510
56,043,284
353,413
112,279,994
49,732,909
$1622012,903
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 3 - CASH AND INVESTMENTS (Continued)
F. Concentration of Credit Risk
Included in the table at Note D above are the following significant investments in any one issuer other than
U.S. Treasury securities, mutual funds, and external investment pools.
Reporting Reported
Unit Issuer Investment Type Amount
Entity -wide
Federal
Farm Credit Bank
US
Government
agency
securities
$17,957,343
Federal
Home Loan Bank
US
Government
agency
securities
175044,023
Federal
Home Loan Mortgage Corporation
US
Government
agency
securities
14,9559178
NOTE 4 - INTERFUND TRANSACTIONS
A. Transfers Between Funds
Transfers between funds during the fiscal year ended June 30, 2014 were as follows:
Amount
Fund Making Transfer Fund Receiving Transfers Transferred
General Fund General Improvements Projects Capital Projects Fund $822912019 (A)
Community Improvements Projects Capital Projects Fund 22,351 (A)
Parks Capital Projects Fund 199543025 (A)
Streets Projects Capital Projects Fund 101,058 (A)
10,368,453
Capital Projects Funds:
Public Facilities Impact Fees Parks Projects Capital Projects Fund 7,3902307 (A)
Traffic Impact Fees Fund Streets Projects Capital Projects Fund 8922455 (A)
8,282,762
Special Revenue Funds:
Non -Major Funds General Improvements Projects Capital Projects Fund 2715504 (B)
Affordable Housing Special Revenue Fund 6,600 (C)
Streets Projects Capital Projects Fund 052,038 (A)
Parks Projects Capital Projects Fund 34,464 (A)
Federal Transportation 23,490 (D)
General Fund 469212 (E)
(A) To fund capital project expenditures
(B) To reimburse General Fund staffing/administrative costs for the project
(C) To reimburse Affordable Housing Fund staffingladministrative costs for the project
(D) To reimburse Alameda County Transportation Improvement Authority sales tax
(E) To fund General Fund. Correction from incorrectly recording funds in ACTC Fund in prior year
53
1,734,308
Internal Service Funds:
Building Replacement Internal Service Fund
General Improvements Projects Capital Projects Fund
41298,673
(A)
Equipment Replacement Internal Service Fund
Streets Projects Capital Projects fund
369874
(A)
Equipment Replacement Internal Service Fund
General Improvements Projects Capital Projects Fund
134,859
(A)
Energy Efficiency Fund
General Improvements Projects Capital Projects Fund
336,339
(A)
4,806,745
25,192,268
(A) To fund capital project expenditures
(B) To reimburse General Fund staffing/administrative costs for the project
(C) To reimburse Affordable Housing Fund staffingladministrative costs for the project
(D) To reimburse Alameda County Transportation Improvement Authority sales tax
(E) To fund General Fund. Correction from incorrectly recording funds in ACTC Fund in prior year
53
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 4 - INTERFUND TRANSACTIONS (Continued)
B. Current Interfund Balances
Current
interfund balances arise in the normal
course of business and are expected to be repaid
shortly after
the end
of the fiscal year. At June 30, 2014, the
following funds have balances due to the General
Fund:
Due from other funds
General Fund
Due to other funds
Public Facilities Impact Fees Capital Project Fund $391659057
Non -Major Special Revenue Funds 436,407
Total $35601,464
C. Advances Between Funds
During the 2004 -2005 and 2005 -2006 fiscal years, 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 of the Fire Impact Fees Fund. Interest accrues on the advance at a rate equal to the
City's return on its investment portfolio.
During the fiscal year 2007 -2008, the General Fund made a long -term advance to the Internal Service Fund
PERS Side Fund to prepay Ca1PERS for the City's Side Fund Obligation. The Side Fund was created in 2005
when Ca1PERS assigned agencies with less than 100 participants to a risk sharing pool. The City had a
negative unfunded liability at the time the City was assigned to the pool. As part of CalPERS Employer
Contribution Rate, the City was scheduled to pay 4.319% of payroll for the next 17 years to eliminate the
current side fund obligation. The benefit of prepayment resulted in reduction of the Employer Contribution
rate in fiscal year 2007 -2008 from 15.894% to 11.575 %. The advance from General Fund is repaid annually,
calculated at the rate of 4.319% of the total salary and be recorded as an Internal Service Fund retirement
benefit expenditure with an offset to reduce the General Fund long -term advance.
The following interfund balances existed at June 30, 2014:
Advances from other funds General Fund
Fire Impact Fees Capital Projects Fund $901,908
PERS Side Fund Internal Service Fund 1,281,035
Total $2,182,943
54
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 5 — NOTES RECEIVABLE
The following table summarizes the notes receivable outstanding as of June 30, 2014:
First Time Homebuyer Loan Program $1,809,383
Eden (Wicklow) Square Senior Affordable Housing 2,7545535
Eden (Emerald Vista) Construction Loan - Family Housing 4,1291598
Eden (Emerald Vista) Construction Loan - Senior Housing 1,626,616
Total $10,320,132
Revolving Home Loans - As part of the City of Dublin First Time Homebuyer Loan Program (FTHLP), the
City provides financial assistance, in the form of a deferred loan. The program targets first time
homebuyers within a certain income range purchasing their first home in Dublin. Monthly payments of
principal and interest are generally deferred until the homes are sold, or are in default. In certain situations
the loan may also be due when the homeowners refinance their primary mortgage. The total outstanding
amount due, including accrued simple interest at 3.5% per annum, as of June 30, 2014 was $1,809,383. As
of June 30, 2014, there were no loans in default.
M1
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 5 - NOTES RECEIVABLE (Continued)
Details of the Revolving Home Loans as of June 30, 2014 were as follows:
LOAN #
#07 -01
#07 -03
#07 -04
#07 -07
#07 -09
#07 -10
#07 -11
#07 -12
#07 -14
#07 -15
#07 -16
#07 -18
#07 -20
#08 -01
#08 -03
#08 -05
#08 -06
#08 -07
#08 -08
#09 -01
#09 -02
#10 -02
#10 -03
#11 -01
#11 -02
#11 -03
#11 -04
# 11 -05
#11 -06
#11 -07
#11 -08
#11 -09
#11 -10
#11 -11
#11 -12
#12 -01
#12 -02
#12 -03
#12-04
#12 -05
#12-06
#12 -07
#12 -08
#12 -09
#13-01
#13 -02
#13 -03
#13 -04
#13 -05
TOTAL
LOAN DATE
2/16/2007
3/30/2007
10/30/2007
9/28/2007
8/28/2007
8/28/2007
10/10/2007
2/16/2007
10/1/2007
12/3/2007
12/28/2007
2/29/2008
5/30/2008
8/15/2008
10/17/2008
1/29/2009
2/11/2009
4/9/2009
6/30/2009
8/3/2009
9/28/2009
1/24/2011
5/5/2011
7/7/2011
10/14/2011
11/21/2011
12/2/2011
12/28/2011
1/13/2012
1/13/2012
1/19/2012
1/30/2012
2/15/2012
4/3/2012
6/27/2012
10/30/2012
1/31/2013
3/22/2013
4/12/2013
4/26/2013
6/12/2013
5/15/2013
5/10/2013
4/25/2013
7/31/2013
8/30/2013
10/2/2013
12/9/2013
3/7/2014
ORIGINAL
LOAN AMOUNT
$39,915
60,039
50,000
42,886
26,036
49,536
38,141
33,051
19,610
24,536
8,000
24,170
19,175
25,377
33,750
22,619
55,404
27,425
39,576
33,000
36,595
40,000
26,700
30,000
29,999
30,839
26,025
35,249
29,999
36,415
36,682
35,249
36,671
38,586
29,999
29,999
40,000
36,749
36,749
35,249
31,499
35,249
35,249
36,749
40,000
40,000
40,000
40,000
36,888
ACCRUED
INTEREST
$10,296
15,245
11,670
8,640
6,234
11,861
8,975
8,525
4,632
5,647
1,822
5,359
4,084
5,217
6,735
4,288
10,434
5,015
6,930
4,512
6,088
4,802
2,947
3,130
2,845
2,812
2,346
3,093
2,586
3,139
3,141
2,978
3,045
3,030
2,112
1,752
1,979
1,642
1,568
1,457
1,160
1,393
1,409
1,522
1,285
1,170
1,043
782
410
REPAYMENT OF
PRINCIPAL AND
INTEREST
($51,526)
(37,512)
LOAN BALANCE
$50,211
75,284
61,670
32,270
61,397
47,116
41,576
24,242
30,183
9,822
29,529
23,259
30,594
40,485
26,907
65,838
32,440
46,506
42,683
44,802
29,647
33,130
32,844
33,651
28,371
38,342
32,585
39,554
39,823
38,227
39,716
41,616
32,111
3 1,751
41,979
38,391
38,317
36,706
32,659
36,642
36,658
38,271
41,285
41,170
41,043
40,782
37,298
$13685,634 $212,787 ($89,038) $1,809,383
got
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 5 — NOTES RECEIVABLE (Continued)
Eden Senior Affordable Housing Loan - (Wicklow Square) — On September 23, 2002, the City selected
Eden Housing, Inc. as the developer for the affordable senior housing at the site of the former library
located at 7606 Amador Valley Boulevard. This site also houses a senior center that the City constructed
during fiscal year 2003 -2004. On February 1, 2004, the City entered into an agreement and provided a loan
in the amount of $2,248,248 to the Dublin Senior Limited Partnership to support the senior housing project.
The interest on the outstanding principal balance of the loan is accrued at the rate of 3% simple interest per
annum. The entire outstanding principal balance of the loan, together with the interest accrued, shall be
payable in full on February 8, 2059, the 55th anniversary of the Initial Disbursement Date of February 18,
2004. Repayments commenced on June 1, 2006, and on the first day of each June, 60% of the Surplus
Cash generated by the project during the previous calendar year are remitted to reduce the outstanding
indebtedness. Any payment not paid when due shall bear interest at a rate equal to 10% annum from the
due date until it is paid in full. The outstanding amount as of June 30, 2014 was $2,754,535.
Arroyo Vista Predevelopment /Construction Loan — Family and Senior Projects — (Emerald Vista) - On
June 1, 2011, the City entered into an agreement to provide a loan to Eden Dougherty, L.P., a California
nonprofit public benefit corporation, with a not -to- exceed $7,600,000 principal amount in accordance to
the Arroyo Vista Disposition and Development Agreement dated July 25, 2007 concerning the
redevelopment of the real property located at 6700 Dougherty Road in the City of Dublin. The City agreed
to provide a loan to Eden to assist in financing the development of the Family Project and Senior Project.
The City determined that the development of the project is in the interests of health, safety and welfare of
the residents of the City, and that the City financing is necessary to make the project affordable to low and
very low income households for a term of not less than fifty-five years. The note will not bear interest until
the earlier of (i) the date that the project's construction financing is either converted to a permanent loan or
repaid in full, or (ii) twelve months following the date of issuance of the final certificate of occupancy or
equivalent for the project; thereafter, the outstanding principal balance of the loan shall bear interest at a
rate equal to three percent simple annual interest. Annual payments shall be due and payable on a residual
receipts basis in accordance with the formula set forth in the note. The entire outstanding principal balance
and accrued interest shall be paid in full on the earlier of (i) the fifty fifth anniversary of the date of
issuance of the final certificate of occupancy or (ii) the fifty - seventh anniversary of the loan origination
date. The City has the right to accelerate maturity date and declare all sums immediately due and payable
to the City upon the occurrence of an event of developer default, including developer's failure to
commence or complete construction of the project within times period specified in the note. At June 30,
2014, the outstanding amounts are $4,129,598 or the Family Project and $1,626,616 for the Senior Project.
NOTE 6 — CAPITAL ASSETS
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 Governmental 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 $5,000 for general
capital assets and $100,000 for infrastructure capital assets. 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.
57
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 6 — CAPITAL ASSETS (Continued)
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, and 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.
Infrastructure 20 -75 Years
Building and Improvements 20 -38 Years
Vehicles and Equipment 3 -15 Years
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.
A. Current Year Activities
Capital asset activity during the fiscal year were as follows:
Governmental activities
Capital assets not being depreciated:
Land
Streets Right of Way
Construction in Progress
Total capital assets not being depreciated
Capital assets being depreciated:
hifrastructure
Buildings and Improvements
Vehicles and Equipment
Total capital assets being depreciated
Less accumulated depreciation for:
Infrastructure
Buildings and Improvements
Vehicles and Equipment
Total Accumulated Depreciation
Net governmental fund program
Capital assets being depreciated
Governmental activity capital assets, net
Balance at
June 30, 2013 Additions
$166,5062225
35,425,288
14,982,025 $222719,824
216,913,538 222719,824
3835700,250
70,721,237
Retirements Transfers
$4,795,700
Balance at
June 30, 2014
$171,3012925
35,425,288
(52182,461) 32,519,388
(3862761) 239,246,601
383,700,250
70,721,237
8,226,627
448,680
($707,097)
386,761
8,354,971
4622648,114
448,680
(707,097)
386,761
462,776,458
(204,874,162)
(29,979,673)
(720577508)
(2,382,165)
(6,3062244) (4722232) 707,097
(2412160,079) (9,911,905) 707,097
221488,035 (9,463,225)
$4381401,573 $13,256,599
,
386,761
(211,931,670)
(32,361,838)
(690712379)
(250,364,887)
212,411,571
$451,658,172
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 6 — CAPITAL ASSETS (Continued)
B. Project Commitments
At June 30, 2014, the City had outstanding commitments with contractors for the following projects:
Project Commitment
Energy Efficient Upgrade $304,400
Facility Construction 675,451
Facility Modification 13,080
Park Construction 756,706
Park Improvements 99,954
Street Improvements 3693134
Street Repair/Maintenance 88,078
Street Signal Improvements 32,095
Technology Upgrade 2639591
C. Capital Asset Contributions
Some capital assets may be acquired using Federal and State grant funds, or they may be contributed by
developers or other governments. GASB Statement 34 requires that these contributions be accounted for as
revenues at the time the capital assets are contributed.
D. Depreciation Allocation
Depreciation expense is charged to functions and programs based on their usage of the related assets. The
amounts allocated to each function or programs are as follows:
Governmental Activities
General government
Public safety
Highways and streets
Culture and leisure
Community development
Total depreciation expense
NOTE 7 — LONG TERM DEBT
A. Current Year Transactions and Balances
GOVERNMENTAL ACTIVITY DEBT
2012 Chevron Energy Capital Lease
Balance at
July 1, 2013
...
10,023
913,313
7,926
150,955
$9,911,905
Retirements
$61755,824 ($627,018)
Balance at
June 30, 2014
$6,128,806
Total Governmental Activity Debt $6,755,824 ($6273018) $6,1283806
59
Due Within
One Year
$378,995
$378,995
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 7 — LONG TERM DEBT (Continued)
B. 2012 Chevron Energy Capital Lease
On June 12, 2012, City entered into an Energy Services Performance Contract with Chevron Energy
Solutions to implement the recommended efficiency improvements in the City's ongoing efforts to reduce
energy consumption and develop long -term cost savings through increased energy efficiency. The total
project cost was estimated to be $7,430,976. City expects the full cost of improvements including interest
can be offset through estimated energy savings. The project was funded through a combination of Lease
Financing and Internal Service Fund reserves.
The total amount financed by the bank was approximately $6,755,824, with interest rate fixed at 2.56%
which occurred on October 1, 2012. The first payment was made on September 28, 2013. The financing
is a lease arrangement with Bank of America holding title to the improvements being installed. Once all
lease payments are made, improvements are fully owned by the City.
The payments will be made over a fourteen -year period. The amount of annual lease payments is
intended to produce consistent savings each year. Therefore, for payments in the initial years, when
certain rebates and incentives are received, the payments will be higher. The average annual lease
payment over the repayment period is estimated to be approximately $578,704 per year. The City
anticipates that energy savings and incentives are projected to fully offset these costs.
C. Debt Service Requirements
Governmental Activities: Capital Lease
Year ending June 30 Principal
Interest
2015
$378,995
$1563897
2016
403,459
1479195
2017
429,110
136,867
2018
455,999
1255881
2019
396,728
1149208
2020 -2024
29376,768
4039881
2025 -2029
1,687,747
883157
Total
$6,1289806
$1,1739086
NOTE 8 — NET POSITION AND FUND BALANCES
A. Net Position
Net Position is the excess of all the City's assets and deferred outflow of resources over all its liabilities
and deferred inflow of resources, regardless of fund. Net Assets are divided into three captions. These
captions apply only to Net Assets, which is determined only for proprietary funds and at the Government -
wide level, and are described below:.
Net Investment in Capital Assets, describes the portion of Net Position which is represented by the
current net book value of the City's capital assets.
zu
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 8 — NET POSITION AND FUND BALANCES (Continued)
Restricted describes the portion of Net Position which is restricted as to use by the terms and conditions
of agreements with outside parties, governmental regulations, laws, or other restrictions which the City
cannot unilaterally alter. These principally include developer fees received for use on capital projects
and debt service requirements.
Unrestricted describes the portion of Net Position which is not restricted to use.
Be Fund Balances
Governmental fund balances represent the net current assets of each fund. Net current assets generally
represent a fund's cash and receivables, less its liabilities.
The City's fund balances are classified based on spending constraints imposed on the use of resources.
For programs with multiple funding sources, the City prioritizes and expends funds in the following
order: Restricted, Committed, Assigned, and Unassigned. Each category in the following hierarchy is
ranked according to the degree of spending constraint:
Nonspendable represents balances set aside to indicate items do not represent available, spendable
resources even though they are a component of assets. Fund balances required to be maintained intact,
such as Permanent Funds, and assets not expected to be converted to cash, such as prepaids, notes
receivable, and long -term interfund loans are included. However, if proceeds realized from the sale or
collection of nonspendable assets are restricted, committed or assigned, then Nonspendable amounts are
required to be presented as a component of the applicable category.
Restricted fund balances have external restrictions imposed by creditors, grantors, contributors, laws,
regulations, or enabling legislation which requires the resources to be used only for a specific purpose.
Encumbrances and nonspendable amounts subject to restrictions are included along with spendable
resources.
Committed fund balances have constraints imposed by resolution of the City Council which may be
altered only by formal action of the City Council to establish, modify, or rescind a fund balance
commitment. Encumbrances and nonspendable amounts subject to council commitments are included
along with spendable resources.
Assigned fund balances are amounts constrained by the City's intent to be used for a specific purpose, but
are neither restricted nor committed. Intent is expressed by the City Council or its designee and may be
changed at the discretion of the City Council or its designee. This category includes encumbrances;
Nonspendable, when it is the City's intent to use proceeds or collections for a specific purpose, and
residual fund balances, if any, of Special Revenue, Capital Projects and Debt Service Funds which have
not been restricted or committed. Through a council resolution, the City Council has designated the City
Manager to determine the amount of assigned Fund balance.
Unassigned fund balance represents residual amounts that have not been restricted, committed, or
assigned. This includes the residual general fund balance and residual fund deficits, if any, of other
governmental funds. In accordance with policies adopted by the City Council, the "Unassigned" negative
fund balance represents $99,765 associated equivalent to the unrealized loss on investments and
$13,328,249 based on goals to accommodate general cash flow.
M
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE S - NET POSITION AND FUND BALANCES (Continued)
Detailed classifications of the City's Fund Balances, as of June 30, 2014, are stated below:
Non- Spendable:
Prepaid Expenses $27,080
Cemetery Endowment 60,000
Long -Term Advance to Fire Impact Fee Fund 901,908
Long -Term Advance to PERS Side Fund 1,2815035
SubTotal Non - Spendable Fund Balance
Restricted for:
Public Safety Programs
Street Maintenance and Construction
Health and Welfare Programs
Heritage Park Maintenance
Recycling Programs
Impact Fee Capital Projects
Capital Improvement Projects
Housing
Sub Total Restricted Fund Balance
Committed to:
Economic Stability
Downtown Public Improvements
Open Space Funding
Affordable Housing
Emerald Glen Aquatic Center Additional Scope
Emergency Communications
Fire Services OPEB
Innovations and New Opportunities
Maintenance Facility
Historic Park Schaefer Ranch
Civic Center Expansion
Shannon Center Parking Lot
Advance to Public Facility Fee
It City/School Projects
Non - Streets CIP Commitments
One Time Imitative
Sub Total Committed Fund Balance
Assigned to:
Employees Accrued Leave
Operating Carryovers
CIP Carryovers
Civic Center Renovation
Contribution to Internal Service Fund
Catastrophic Loss and Recovery
Service Continuity Obligations
Pension and Post Employment Benefits
Fiscally Responsible Adjustment
Sub Total Assigned Fund Balance
Unassigned Fund Balance
Fund Balance Deficits
Unrealized Gain on Investments/(loss)
Cash Flow Per City Policy
Total Fund Balance (Deficit)
2,270,023
500,000
$10,064,299
500,000 10,064,299
6,000,000
1,000,000
45,975
1,000,000
3,000,000
741,000
8,196,000
1,372,785
1,133,601
2,391,538
259,076
775,000
3,500,000
235,873
3,132,011
1,341,408
34,124,267
979,247
1,486,299
1,083,752
2,000,000
500,000
10,608,185
2,410,000
9,866,848
325,002
29,259,333
(99,765)
13,328,249
$15,922 $854 $4,966
15,922 854 4,966
($21,501)
$295285,547
29,285,547
$27,080
60,000
901,908
1.281.035
2,270,023
$126159952 19615,952
4,968,221 4,9682221
291,975 291,975
500,000
3899081 389,081
$122905,632 $50,075 42,241,254
2,139,666 2,139,666
102064,299
12 905 632 50,075 9,404,895 62,210,448
6,000,000
1,021,742
45,975
1,00%000
3,00%000
741,000
8,196,000
1,372,785
1,133,601
2,391,538
259,076
775,000
3,50 %000
235,873
3,132,011
1,341,408
34,146,009
979,247
1,486,299
1,083,752
2,00 %000
50 %000
1 %608,185
2,410,000
9,866,848
325,002
29,259,333
($901,908) (923,409)
(99,765)
13,328,249
13,228,484
(21,501)
Major Funds
Affordable
General
Community
Public Facilities Fire Impact Traffic Impact Dublin
General Housing
Improvement
Improvement
Parks Streets
Impact Fees Fees Fees Crossing Non -Major
Fund Fund
Projects
$29,285,547 $901908 $12,905,632
Projects
$9,404,895
Projects
Proiects
Fund Fund Fund Contribution Funds Total
Non- Spendable:
Prepaid Expenses $27,080
Cemetery Endowment 60,000
Long -Term Advance to Fire Impact Fee Fund 901,908
Long -Term Advance to PERS Side Fund 1,2815035
SubTotal Non - Spendable Fund Balance
Restricted for:
Public Safety Programs
Street Maintenance and Construction
Health and Welfare Programs
Heritage Park Maintenance
Recycling Programs
Impact Fee Capital Projects
Capital Improvement Projects
Housing
Sub Total Restricted Fund Balance
Committed to:
Economic Stability
Downtown Public Improvements
Open Space Funding
Affordable Housing
Emerald Glen Aquatic Center Additional Scope
Emergency Communications
Fire Services OPEB
Innovations and New Opportunities
Maintenance Facility
Historic Park Schaefer Ranch
Civic Center Expansion
Shannon Center Parking Lot
Advance to Public Facility Fee
It City/School Projects
Non - Streets CIP Commitments
One Time Imitative
Sub Total Committed Fund Balance
Assigned to:
Employees Accrued Leave
Operating Carryovers
CIP Carryovers
Civic Center Renovation
Contribution to Internal Service Fund
Catastrophic Loss and Recovery
Service Continuity Obligations
Pension and Post Employment Benefits
Fiscally Responsible Adjustment
Sub Total Assigned Fund Balance
Unassigned Fund Balance
Fund Balance Deficits
Unrealized Gain on Investments/(loss)
Cash Flow Per City Policy
Total Fund Balance (Deficit)
2,270,023
500,000
$10,064,299
500,000 10,064,299
6,000,000
1,000,000
45,975
1,000,000
3,000,000
741,000
8,196,000
1,372,785
1,133,601
2,391,538
259,076
775,000
3,500,000
235,873
3,132,011
1,341,408
34,124,267
979,247
1,486,299
1,083,752
2,000,000
500,000
10,608,185
2,410,000
9,866,848
325,002
29,259,333
(99,765)
13,328,249
$15,922 $854 $4,966
15,922 854 4,966
($21,501)
$295285,547
29,285,547
$27,080
60,000
901,908
1.281.035
2,270,023
$126159952 19615,952
4,968,221 4,9682221
291,975 291,975
500,000
3899081 389,081
$122905,632 $50,075 42,241,254
2,139,666 2,139,666
102064,299
12 905 632 50,075 9,404,895 62,210,448
6,000,000
1,021,742
45,975
1,00%000
3,00%000
741,000
8,196,000
1,372,785
1,133,601
2,391,538
259,076
775,000
3,50 %000
235,873
3,132,011
1,341,408
34,146,009
979,247
1,486,299
1,083,752
2,00 %000
50 %000
1 %608,185
2,410,000
9,866,848
325,002
29,259,333
($901,908) (923,409)
(99,765)
13,328,249
13,228,484
(21,501)
(901,908)
12,305,075
$79,382,107 $10,064,299
$15,922
$854 $4,966 $21501
$29,285,547 $901908 $12,905,632
$50,075
$9,404,895
$140,190,888
3%
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 8 — NET POSITION AND FUND BALANCES (Continued)
C. Minimum Fund Balance Policies
The City's Reserve Policy requires the City to maintain an Unrestricted General Funds, for cash flow
purposes, of minimum equal to two months of budgeted operating expenditures with a goal to achieve a
maximum of four months. As of June 30, 2014 the cash flow reserves, which are part of the Unassigned
Fund Balance, were above the minimum at approximately 3 months, however they were below the desired
target of 3 months. Funds may be appropriated as to Undesignated Capital Contribution by designation
from City Council only for high priority one time capital expenditures provided the minimum fund balance
would remain.
D. Fund Equity Deficits
The funds listed in the table below had fund balance deficits at June 30, 2014. These deficits are
expected to be eliminated by future revenues.
Fund
Streets Projects Capital Projects Fund
Fire Impact Fees Capital Projects Fund
Federal Transportation (TIGER) Special Revenue Fund
TDA Special Revenue Fund
East Bay Regional Park District Special Revenue Fund
PERS Side Fund Internal Service Fund
Energy Efficiency Internal Service Fund
NOTE 9 — DEFERRED COMPENSATION PLAN
Fund
Deficit
$21,501
901,908
579
57,146
34,464
1,281,035
5,912,808
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 funds have been placed in a trust administered by ICMA
Retirement Corporation and are not available to the City's general creditors. Accordingly, the City does
not report the assets in the financial statements.
63
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 10- PENSION PLAN
�W17M"41 y
Plan Description — The City'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), a cost sharing multiple - employer plan administered by
CaIPERS, 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 is
established by State statutes within the Public Employees' Retirement Law. The City 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,
Funding Policy — Active plan members in the Miscellaneous Plan are required to contribute 8 percent of
their annual covered salary. In October 2012, the City and its employees agreed to implement the
Employee Cost Sharing of Additional Benefits, which increase the employee contribution rate by 50% of
each year's cost of living adjustment, up to 4.072 %. The required employer contribution rate for fiscal
year 2013 -2014 was 15.685% for miscellaneous employees, the City's net contribution rates was
lowered by 2.95% additional employee contribution to the employer's rate. The actuarial methods and
assumptions used are adopted the Ca1PERS Board of Administration, the City is required to contribute
the actuarially determined remaining amounts necessary to fund the benefits for its members.
Annual Pension Cost — For fiscal year 2013 -2014, the City's annual projected pension cost was
$1,247,428. The City's actual contributions were $1,131,540. The required contribution for fiscal year
2013 -2014 was determined in the June 30, 2012, actuarial valuation using the entry age normal actuarial
cost method with the contributions determined as a percent of pay. The actuarial assumptions included
(a) 7.50 percent investment rate of return compounded annually net of administrative expenses; (b)
projected salary increases that vary by duration of service ranging from 3.30 percent to 14.20 percent for
miscellaneous members, depending on Age, Service, and type of employment; (c) Inflation component
of 2.75 percent; d) Payroll Growth of 3.00 percent; and e) Individual Salary Growth based on a merit
scale varying by duration of employment coupled with an assumed annual inflation growth of 2.75
percent and annual production growth of 0.25 percent. The actuarial value of Miscellaneous Plan's
assets was determined using a technique that smooth's 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 average remaining amortization period at
June 30, 2012, the latest actuarial study available, was 20 years for miscellaneous employees for prior
and current service unfunded liabilities. The Asset Valuation Method was 15 Year Smoothed Market.
Three Year Trend Information for the Miscellaneous Plan
Annual Percentage Net
Fiscal Year Pension of APC Pension
Ending Cost (APC) Contributed Obligation
June 30, 2012 $1,2983838 100% $0
June 30, 2013 19249,811 100% 0
June 30, 2014 1,247,428 100% 0
64
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 10 - PENSION PLAN (Continued)
The City contributed to the California Public Employee's Retirement System (CalPERS), as an agent
multiple — employer public employee defined benefit pension plan. As part of the actuarial valuation
date of June 30, 2003, the City's miscellaneous plan became part of a CalPERS Risk Pool for employers
with less than 100 active plan members. As part of a cost sharing, multiple - employer defined benefit
plan, disclosure of the Schedule of Funding progress is not required.
B. Social Security /Public Agency Retirement Systems (PARS)
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 alternate plan. The City's part-time, seasonal and temporary employees are
not covered under Social Security.
The City entered into an agreement with the PARS to provide an alternative retirement system for the
part-time employees. The PARS plan was effective December 25, 2005, and replaced Social Security. In
fiscal year 2013 -2014, the employees contributed $45,248 or 6% of salary and the City contributed
$11,313 or 1.5% of employee's pay towards PARS.
NOTE 11— OTHER POST EMPLOYMENT BENEFITS
The City provides certain health care benefits for retirees, as required under a contract signed with PERS.
All former employees who retire with the City under PERS are eligible for these benefits.
GASB 45 requires public agencies to estimate their Other Post Employment Benefits (OPEBs) and
account for the future liability. Rather than use the "pay as you go" system and account for retiree
benefits as they are due, GASB 45 requires the agencies to account for the expenses as benefits are
accrued for the employees. On June 29, 2007, the City established an agreement with the California
Public Employees' Retirement System (CalPERS) to set aside funds and deposit into the California
Employer's Retiree Benefit Trust ( CERBT) fund to accumulate, and distribute assets for the exclusive
benefit of retirees and their beneficiaries. Plan assets are irrevocable and may not be used for any
purpose other than funding post - retirement health care. The CERBT fund is an agent multiple employer
plan and in order to ensure that the CERBT fund remains compliant with all reporting requirements, the
CALPERS is responsible for publishing aggregate GASB 43 compliance Financial Statements, Notes,
and Required Supplementary Information (RSI). The information may be found on CalPERS web site at
www.calpers,ca.gov.
A. City of Dublin Retiree Health Plan
Plan Description - City of Dublin (City) Retiree Health Plan is a single- employer defined benefit
healthcare plan administered by the California Public Employees Retirement System (CalPERS). The
plan provides medical insurance benefits to eligible retirees and their eligible dependents in accordance
with Public Employee Retirement Law (Article 2). The Public Employees Retirement System Board of
Administration has the responsibility to approve health benefit plans and may contract with carriers
offering health benefit plans. The Board of Administration is responsible for adopting all rules and
regulations, including the scope and content of basic health plans. The California Government Code also
defines certain rules for contract agencies, such as the City of Dublin, to purchase health insurance
benefits.
RKI
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 11— OTHER POST EMPLOYMENT BENEFITS (Continued)
Funding Policy - There is no requirement imposed by Ca1PERS, to contribute any amount beyond the pay -as-
you-go contributions. The cost of monthly insurance premiums may be shared between the retiree and the
City. The cost sharing varies depending on: date of hire (a vesting schedule is in place for employees hired
after April 1, 2004); the dependent status; and plan selected. A minimum employer monthly contribution
requirement is established and may be amended by the CalPERS Board of Administration and applicable laws.
Within the parameters of the law, individual contracting agencies, such as the City, are allowed to establish and
amend the level of contributions made by the employer towards the monthly cost of the plans. Changes to the
employer contribution rate towards retiree benefits are recorded in a resolution adopted by the City Council.
The City has established a policy to make contributions to an Internal Service Fund, for the purpose of funding
its calculated obligations over a period of time, with the intent the funds will be transferred to Ca1PERS
periodically at which time the transfers will be recorded as Cash with Fiscal Agent in a Trust Fund. The
amount necessary to fund future benefits is based on projections from the June 30, 2013 Actuarial Study
completed by Bartel and Associates, LLC in accordance with GASB Statement 45, Accounting and Financial
Reporting for Postemployment Benefits Other than Pensions.
During fiscal year 2006 -2007, the City made arrangements with Ca1PERS to retain the OPEB assets to
finance future Retiree Health Benefits. On June 29, 2007, the City transferred $5,468,611 from the
Internal Service Fund into the California Employers' Retiree Benefit Trust Fund (CERBT). The City has
elected a one -year amortization period for the OPEB plan assets deposited into the CERBT, as permitted
under GASB Statement 45, paragraph 13F, amortization periods allow for a maximum of 30 years with
no minimum years.
Annual OPEB Cost and Net OPEB Obligation - The City's annual Other Post Employment Benefit (OPEB)
cost (expense) is calculated based on the Annual Required Contribution of the employer (ARC), an amount
actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level
of funding that if paid on an ongoing basis, is projected to cover normal cost each year and amortize any
unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The following table
shows the components of the City of Dublin annual OPEB costs for the year, the amount actually contributed
to the plan, and changes in the City's net OPEB obligation to the City Retiree Health Plan:
Annual required contribution $006,000
Annual OPEB expense 006,000
Contributions made 024,172
Decrease (increase) in net OPEB asset 18,172
Net OPEB asset - beginning of year 17,717
Net OPEB asset - end of year $359889
M
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 11— OTHER POST EMPLOYMENT BENEFITS (Continued)
The
City Retiree Health annual
OPEB
cost, the percentage of annual OPEB
cost contributed to the plan,
and
the net OPEB obligation for
fiscal
year 2013 -14, and the preceding years
were as follows:
Fiscal
Annual
Annual OPEB
OPEB
Year Ended
OPEB Cost
Cost Contributed
Asset
6/30/2012
$191643000
100%
$0
6/30/2013
191815000
100%
173717
6/30/2014
133069000
100%
35,889
Funded Status and Funding Progress - As of June 30, 2013, the most recent actuarial valuation date, the
plan was 64.60% funded. The Actuarial Accrued Liability (AAL) for benefits was $14,823,000 and the
Actuarial Value of Plan Asset was $9,574,000 resulting in an Unfunded Actuarial Accrued Liability
(UAAL) of $5,249,000. The covered payroll (annual payroll of active employees covered by the plan)
was $8,972,000, and the ratio of UAAL to the covered payroll was 58.5 percent.
Annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net OPEB
obligation for 2014 and the previous years were as follows:
Actuarial
Valuation
Date
Actuarial
Value of
Assets
(A)
Entry Age
Actuarial
Accrued
Liability
(B)
Underfunded
(Overfunded)
Actuarial
Accrued Funded
Liability Ratio
(B-A) (AB)
Covered
Payroll
(C)
UAAL as a
Percentage of
Covered Payroll
[(B-A) /Cl
6/30/2004
$0
$4,973,780
$4,973,780
0.00%
$6,320,280
78.7%
6/30/2007
53694,000
6,159,000
4659000
92.45%
6,6979747
6.9%
6/30/2009
5,326,000
6,990,000
1,664,000
76.19%
7,6189000
21.8%
6/30/2011
658239000
11,557,000
497349000
59.04%
79830,000
60.5%
6/30/2013
995749000
1498239000
592499000
64.59%
899725000
58.5%
Actuarial Methods and Assumptions - Projections of benefits for financial reporting purposes are based
on the substantive plan (the plan as understood by the employer and the plan members) and include the
types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit
costs between the employer and plan members to that point. The actuarial methods and assumptions used
include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued
liabilities and the actuarial value of assets, consistent with the long -term perspective of the calculations.
In the June 30, 2013 actuarial valuation, the actuarial cost method used is Entry Age Normal (EAN) cost
method. Under the EAN cost method, the plan's Normal Cost is developed as a level percent of payroll
throughout the participants' working lifetime. Entry age is based on current age minus years of service.
Actuarial Accrued Liability (AAL) is the cumulative value on the valuation date, of prior Normal Cost.
For the retirees, the AAL is the present value of all projected benefit. The Unfunded AAL is being
amortized as a level dollar closed 15 year basis, as a level percent of payroll with a remaining
amortization period at June 30, 2013 of 15 years.
67
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
ONEWHOMM
NOTE 11— OTHER POST EMPLOYMENT BENEFITS (Continued)
GASB 45 requires the interest rate to represent the underlying expected return for the source of funds
used to pay benefits. The actuarial methods and assumptions included 6.75 percent interest rate,
representing the long term expected rate of return on the CalPERS Trust Fund including a margin for
adverse earnings. Annual inflation assumed to increase at one half of the Kaiser family premium increase
and Aggregate Payroll assumed to increase at 3.25 percent per annum. The study also used assumptions
for the salary merit and longevity increases, and demographic assumptions such as mortality, withdrawal,
and disability based on CalPERS 1997 -2007 Experience Study. Retirement assumption was also based
on CalPERS 1997 -2007 Experience Study of the Miscellaneous Plan 2.7% at 55 years, with expected
retirement age of approximate 58 for both females and males.
The health care cost trend rate is the rate of change in per capita health claims costs over time as a result
of factors such as medical inflation, utilization of healthcare services, plan design, and technological
developments.
The following table includes the annual healthcare cost trend rate used in the Actuarial Valuation:
Year
Non - Medicare
HMO & PPO
Medicare
HMO & PPO
2013
Actual Premiums
Actual Premiums
2014
Actual Premiums
Actual Premiums
2015
8.0%
8.3%
2016
8.0%
8.3%
2017
8.0%
8.3%
2021+
1 5.0%
1 5.0%
Be Dougherty Regional Fire Authority Health Plan
Dougherty Regional Fire Authority Background - In 1988, the cities of Dublin and San Ramon formed
Dougherty Regional Fire Authority (DRFA), a Joint Powers Agency (JPA). The JPA provided fire
services to all of Dublin and the southern portion of San Ramon. In 1997, the two cities decided to
change how Fire Services would be provided in each City. As a result, JPA personnel were absorbed by
the two new service providers pursuant to a mutual agreement. The JPA has remained intact to conclude
the financial affairs of the entity. This includes residual retiree obligations and workers compensation
liabilities. Dublin's share of all DRFA close -out expenses, including retiree medical benefits, is 57.51%
of the actual costs, with the City of San Ramon paying 42.49% of the costs. The two cities have entered
into a binding agreement to share these expenses on this basis. The City of Dublin is presenting
information only for its contractual share of the obligations.
Plan Description - City of Dublin share of DRFA Retiree Health Plan is a single- employer defined
benefit healthcare plan administered by the California Public Employees Retirement System (CalPERS).
The Plan provides medical insurance benefits to eligible retirees and their eligible dependents. In
accordance with Public Employee Retirement Law (Article 2), the Public Employees Retirement System
Board of Administration has the responsibility to approve health benefit plans and may contract with
carriers offering health benefit plans. The Board of Administration is responsible for adopting all rules
and regulations, including the scope and content of basic health plans. The California Government Code
also defines certain rules for contract agencies, such as DRFA, to purchase health insurance benefits.
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 11— OTHER POST EMPLOYMENT BENEFITS (Continued)
Funding Policy - There is no requirement imposed by Ca1PERS, to contribute any amount beyond the
pay -as- you -go contributions. The cost of monthly insurance premiums may be shared between the retiree
and DRFA. The cost sharing varies depending on: the bargaining unit; dependent status; and plan
selected. A minimum employer monthly contribution requirement is established and may be amended by
the Ca1PERS Board of Administration and applicable laws. Within the parameters of the law, individual
contracting agencies, such as the DRFA, are allowed to establish and amend the level of contributions
made by the employer towards the monthly cost of the plans. Changes to the employer contribution rate
towards retiree benefits are recorded in a resolution adopted by the DRFA Management Committee.
For fiscal year 2013 -2014, the City contributed $40,228 to the plan, all of which was for current
premiums. No other contributions were made.
Annual OPEB Cost and Net OPEB Obligation - The City of Dublin's share of the DRFA Retiree Health
Plan annual other post employment benefit (OPEB) cost (expense) is calculated based on the annual
required contribution of the employer (ARC), an amount actuarially determined in accordance with the
parameters of GASB Statement 45, Accounting and Financial Reporting for Postemployment Benefits
Other than Pensions. The ARC represents a level of funding that, if paid on an on -going basis, is
projected to cover costs. This plan is in a unique status since there are no active members and no
"normal" cost component. Therefore, 100% of the calculated ARC relates to the amortization of
unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years.
The following table shows the components of the City of Dublin's share of DRFA annual OPEB cost for
the year, the amount actually contributed to the plan and changes in the Dublin Share of DRFA net
OPEB and the City of Dublin share of the obligation to DRFA Retiree Health Plan:
Annual required contribution
Interest on net OPEB obligation
Adjustment to annual required contribution
Annual OPEB expense
Contributions made
Increase (decrease) in net OPEB obligation
Net OPEB obligation (asset) - beginning of year
Net OPEB obligation (asset) - end of year
$68,574
10,831
(26,110)
53,295
(40,228)
13,067
290,299
$303,366
The DRFA Retiree Health (City of Dublin Share) annual OPEB cost, the percentage of annual OPEB
cost contributed to the plan, and the net OPEB obligation for fiscal year 2013 -2014 and the two previous
years were as follows:
Fiscal Annual Annual OPEB OPEB
Year Ended OPEB Cost
6/30/2012
$59,273
6/30/2013
593273
6/30/2014
533295
Cost Contributed Obligation
88.74%
77.08%
75.48%
276,715
290,299
303,366
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 11— OTHER POST EMPLOYMENT BENEFITS (Continued)
Funded Status and Funding Progress - As of June 30, 2013, the most recent actuarial valuation date, the
plan was not funded. Therefore, both the actuarial accrued liability for benefits and the unfunded
actuarial accrued liability (UAAL) equaled $762,433. Since there are no active employees, it is not
possible to calculate a comparison of the liability to the payroll.
Actuarial Methods and Assumptions - Projections of benefits for financial report ing purposes are based
on the substantive plan (the plan as understood by the employer and the plan members) and include the
types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit
costs between the employer and plan members to that point. The actuarial methods and assumptions
used include techniques that are designed to reduce the effects of short-term volatility in actuarial
accrued liabilities and the actuarial value of assets, consistent with the long -term perspective of the
calculations.
A sole or agent employer that meets any of the eligibility criteria in paragraph 11 of GASB 45 is
permitted to apply the alternative measurement method set forth in paragraphs 33 through 35 of
GASB45, which allows for certain simplifying modifications to the selection of assumptions for purposes
of measuring the ARC (Annual Required Contribution) and the plan's actuarial accrued liabilities and
funded status. In the June 30, 2013 actuarial valuation prepared by Bartel and Associates, LLP the
actuarial used was Alternative Measurement Method with the Entry Age Normal (EAN) cost method.
Under the EAN cost method, the plan's Normal Cost is developed as a level percent of payroll
throughout the participants' working lifetime. The actuarial assumptions included a 4.0% investment rate
of return (net of administrative expenses), calculated based on the funded level of the plan at the
valuation date. The expected rate of increase in healthcare insurance premiums is based on projections of
the Ca1PERS 1997 -2011 Experience Study. The increases areas follows:
Year
Non - Medicare
HMO & PPO
Medicare
HMO & PPO
2013
Actual Premiums
Actual Premiums
2014
Actual Premiums
Actual Premiums
2015
8.0%
8.3%
2016
7.5%
7.8%
2017
7.0%
7.2%
2021+
5.0%
5.0%
The Actuarial Accrued Liability (AAL) is the cumulative value, on the valuation date, of prior Normal
Costs. For retirees, the AAL is the present value of all projected benefits. Although GASB45 allows an
amortization period not to exceed 30 years, due to the closed status of the plan, the unfunded AAL is
amortized over 20 years as a level of dollar amount.
70
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 12 - HEALTH, GENERAL LIABILITY AND WORKERS' COMPENSATION COVERAGE
A. Risk Pool
The City participates in the ABAG PLAN Corporation, a non - profit public benefit corporation
established to provide liability insurance coverage, claims administration and risk management services,
and legal defense to its participating members. The liability insurance coverage is provided by a
combination self - insurance collectively funded by ABAG PLAN Corporation and the purchase of
commercial insurance for large losses.
ABAG PLAN provides the first $5 million of coverage as self - funded general liability and automobile
liability coverage per occurrence. ABAG PLAN purchases commercial excess liability insurance in two
layers of $10 million each to provide total coverage of claims up to $25 million per occurrence. The City
has a deductible of $50,000 per occurrence. ABAG PLAN also provides $1 million of employee bonds
(theft coverage) in excess of a $5,000 deductible.
ABAG PLAN also provides property insurance coverage. This coverage is also comprised of a self -
insured layer combined with commercial insurance. The first $100,000 of losses are self - funded by
ABAG PLAN form premiums collected from the participants in the program. ABAG PLAN purchases
an insurance policy to cover losses above $100,000 per occurrence and the annual aggregate losses of the
pool are insured above $250,000. The insurance provides coverage for property damage among all
participants to $1 billion. The City deductible for property and vehicle losses is $5,000. For any single
loss in excess of $25,000 the deductible is waived.
The City's contributions to the 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 basis after a retrospective rating.
There have been no significant reductions in any of the City's areas of insurance coverage and no
settlement amounts have exceeded coverage in the past three years.
Audited financial information for the ABAG PLAN can be obtained from ABAG PLAN, P.O. Box 2050,
Oakland, California 94604 -2050.
Be Worker's Compensation Coverage
The City participates in the Cities Group, created by a joint powers agreement to provide workers'
compensation coverage paid from the pooled contributions of its membership with no deductible to the
City. Any claim in excess of $1 million is covered up to $10 million through a policy with New York
Marine Insurance Corp purchased by the Cities Group. The Cities Group acts as an administrator, claim
adjuster and provides other risk management services as provided by State law. Each member of the
Cities Group pays a premium commensurate with the level of coverage requested and shares surpluses
and deficits proportionately to its participation in the Cities Group. During the year ended June 30, 2014,
the City paid Cities Group $6,998 in premiums. At June 30, 2014, the City of Dublin's share of equity in
the Cities group amounted to $98,462.
Financial Statements may be obtained from the Cities Group, PO Box 111, Burlingame, CA 94011 -0111.
71
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 12 - HEALTH, GENERAL LIABILITY AND WORKERS' COMPENSATION COVERAGE
(Continued)
C. Liability for Uninsured Claims
The GASB requires municipalities to record their liability for uninsured claims and reflect the current
portion of this liability as expenditures in their financial statements. As discussed above, the City has
coverage for such claims, but it has retained the risk for the deductible or the uninsured portion of these
claims in the ABAG PLAN and the Cities Group plans. 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 and workers compensation claims as
discussed above, includes a provision for incurred but not reported (IBNR) losses. This amount was
estimated based on claims experience. The reserve recorded, $195,057, is adequate to cover 3.90 IBNR
claims. Therefore no adjustment was made in fiscal year 2013 -2014 as the City's exposure is for the
$50,000 deductible per General Liability claim. The City has no actual liabilities that are due and
payable at June 30, 2014,
NOTE 13 — JOINT POWERS AGREEMENTS
The City participates in joint ventures discussed below through separate entities established under the Joint
Exercise of Powers Act of the State of California. As separate legal entities, these entities exercise full
powers and authorities within the scope of the related Joint Powers Agreements including the preparation of
annual budgets, accountability for all funds, the power to make and execute contracts and the right to sue
and be sued. Each joint venture is governed by a board consisting of representatives from member
municipalities. Each board controls the operations of the respective joint venture, including selection of
management and approval of operating budgets, independent of any influence by member municipalities
beyond their representation on that board. Obligations and liabilities of these joint ventures are not the
City's responsibility and the City does not have an equity interest in the assets of each joint venture except
upon dissolution of the joint venture.
A. Animal Control Services
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's property. The agreement provided that the County would retain ownership of the
land and that each participating agencies would receive an equity interest in the facility. 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. The City's share for the annual
debt service requirements are based upon the statistics of live animals handled in the shelter. In fiscal
year 2013 -2014 the City contributed $33,222 of the total annual debt service payment. In addition, the
City contributed $176,710 or 11.60% toward the annual operating shelter services and $63,190
representing 5.33% of the animal field service expenditures.
72
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 13 — JOINT POWERS AGREEMENTS (Continued)
The City has not recorded an equity interest for the animal shelter agreement. As noted above the
ongoing financial 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.
B. Associated Community Action Program (ACAP)
The City is a member of ACAP, a Joint Powers Authority established in July 12, 1994, with a governing
board comprised of elected officials from its 13 member agencies. The members include Alameda
County and the Cities of Alameda, Albany, Dublin, Emeryville, Fremont, Hayward, Livermore, Newark,
Piedmont, Pleasanton, San Leandro, and Union City. The purpose of the ACAP was to plan, develop,
and administer social services programs under the federal Community Services Block Grant Program.
These programs included housing assistance, jobs training and education, and youth development
services. Due to significant financial issues, the Board of Directors of ACAP in February 2011 chose to
terminate its participation in various state and federal program and to effectively cease its operations.
Management Partners, Inc. was engaged to manage and implement the close of ACAP.
The representatives of the members and the ACAP Board of Directors have determined that the original
JPA that created ACAP should be amended to reflect the current status of ACAP. On October 18, 2011,
the City Council approved an Amended and Restated Joint Powers Agreement to restructure ACAP's and
delegate oversight powers to allow the County and the City Managers, rather than the elected officials, to
continue its obligations such as records retention, legal and claims, and audit compliance and to limit
future exposure for member agencies.
During fiscal year 2013 -2014 the City of Dublin has also acted as a fiscal agent, which was comprised of
collecting contributions from the members, processing payments on behalf of ACAP, and issuing
financial reports. In fiscal year 2013 -2014, the ACAP Board of Directors determined that no
contributions would be made by member agencies, unless additional close -out funds are needed. The
City will incur a pro -rata share of the on -going costs.
Unaudited condensed financial information as of June 30, 2014 for ACAP is presented below:
Total assets
Total liabilities
Total net assets
Total revenues
Total expenses
Increase (decrease) net position
73
$115,291
2,370
112,921
(495)
65,008
(65,503)
CITY OF DUBLIN
NOTES TO BASIC FINANCIAL STATEMENTS
Fiscal Year Ended June 30, 2014
NOTE 14 — OTHER COMMITMENTS AND CONTINGENT LIABILITIES
The City participates in several Federal and State grant programs. These programs have been audited by the
City's independent accountants in accordance with the provisions of the Federal Single Audit Act of 1984
as amended, and applicable State requirements. No cost disallowances were proposed as a result of these
audits. However, these programs are still subject to further examination by the grantors and the amount, if
any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time.
The City expects such amounts, if any, to be immaterial.
The City is a defendant in a number of lawsuits that have arisen in the normal course of
business, the
outcome of which cannot be
predicted with certainty. In the
opinion of the City Attorney,
these actions
when finally adjudicated will
not have a material adverse effect
on the financial position of the
City.
A. Reimbursements to the City of Pleasanton
On January 23, 1996, the City 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 Rita Road that benefit development in both Pleasanton and future development in Eastern
Dublin. The Cities entered into an agreement on November 3, 1998, to allow for an automatic 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, 2014, was
$4,007,313 which is net of the $226,449 in payments made by the City 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.
Be Alameda County Surplus Property Authority
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, 2014, the balance was $285,529 which includes accrued interest. The
advance is to be repaid from developer fees, charges, and other non -tax revenues from the benefiting
areas 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.
C. Other Development Agreements
The City 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 does not increase for inflation nor do
they accrue interest. Any unused credits may be used by the developers on other projects located within
the Traffic Impact Fee area. The value of the credits as of June 30, 2014 was $117,295,091. The
addition of $2,634,723 to the credit balance was mainly due to value appreciation by converting parkland
acreage to a dollar value, and credit used for the fiscal years was $6,735,596,091.
74
SUPPLEMENTARY INFORMATION
CITY OF DUBLIN
GENERAL FUND
SCHEDULE OF BUDGET VERSUS ACTUAL REVENUE BY SOURCES
FOR THE YEAR ENDED JUNE 30, 2014
Property taxes:.
Current year secured
Current year unsecured
Supplemental property tax
Prior year secured
Prior year unsecured
Property tax penalties
In lieu property tax
Sub -total
Taxes other than property:
Sales and use tax
In lieu sales tax
Real property transfer tax
Hotel transient occupancy tax
Franchise taxes
Sub -total
Licenses and permits:
Animal licenses
Building permits
Business license
Construction and demolition permits
Encroachment permits
Fire permits
Grading permits
Newspaper racks permits
Planning permits
Miscellaneous permits
Sub -total
Fines and forfeitures:
Parking citations
Business license penalties
Other court fines
Sub -total
Budgeted Amounts
Original
$18,506,450
1,164,000
444,700
280,000
5,000
85,900
3,667,000
Final
$195522,454
1,164,000
444,700
280,000
5,000
85,900
3,667,000
Actual Amounts
$19,113,300
1,181,981
563,939
428,518
3,551
62,882
3,932,136
Variance with
Final Budget
Positive
(Negative)
($409,154)
17,981
119,239
148,518
(1,449)
(23,018)
265,136
24,1533050 25,169,054 259286,307 117,253
12,203,550
4,067,850
491,100
898,100
2,943,800
20,604,400
6,000
2,401,440
139,930
56,290
48,910
57,860
3,320
3,240
52,740
5,450
775,180
72,430
2,250
63,580
138,260
76
12,364,098
4,705,850
491,100
898,100
3,070,637
21,529,785
6,000
4,044,284
139,930
79,486
122,573
77,860
3,320
3,240
52,740
5,450
13,115,116
4,705,850
742,304
1,135,228
3,550,096
23,248,594
5,681
5,378,381
151,890
107,032
140,475
96,227
3,527
54,155
7,617
751,018
251,204
237,128
479,459
1,718,809
(319)
1,334,097
11,960
27,546
17,902
18,367
207
(3,240)
1,415
2,167
4,534,883 53944,985 1,4109102
72,430
2,250
63,580
138,260
75,132
3,980
32,603
111,715
2,702
1,730
(30,977)
(26,545)
CITY OF DUBLIN
GENERAL FUND
SCHEDULE OF BUDGET VERSUS ACTUAL REVENUE BY SOURCES
FOR THE YEAR ENDED JUNE 30, 2014 (Continued)
Revenue from use of money and property:
Interest
Internal designated
Change in fair market value of investments
Rent and concession:
Field and court rentals
Facility rentals
Picnic area rentals
Leased property
Sub -total
Intergovernmental revenues:
Motor vehicle in -lieu
Mandated costs
Homeowner's property tax relief
Sub -total
Charges for services:
General government
Building use insurance
Sale of maps and documents
Public safety
Police charges for services
Fire charges for services
Santa Rita fire services
Waste management
Waste management admin fees
Environmental Programs
EV Charges
Parks and community services
Aquatics programs
Cemetery
Cultural arts
Family programs
Heritage Center
Preschool programs
Recreational activities
Community events and festivals
Senior programs
Sports programs
Teens programs
Community Development
Engineering plan checking
Local share permit surcharge - SMIP
Building plan checking
Local share permit surcharge - Zone 7 drainage fees
Zoning and subdivision fees
Sub -total
Budgeted Amounts
Variance with
Final Budget
Positive
Original Final Actual Amounts (Negative)
$6523970
$352,970
$422,979
$709009
3,700
3,700
2,506
29506
71,640
71,640
362,928
362,928
193,550
193,550
225,048
319498
307,950
307,950
303,430
(49520)
15,740
15,740
199691
3,951
64,030
64,030
159,921
959891
81,150
81,150
1,2345240
934,240
1,4969503
5625263
7435227
164,525
222
222
37
37
1835620
183,620
191.537
7,917
1835620 183,620
191,574 7,954
16,000
16,000
23,068
79068
3,700
3,700
1,205
(2,495)
71,640
71,640
89,704
189064
149,660
291,760
412,143
1209383
820,000
525,000
5255152
152
670,000
670,000
738,195
68,195
71 71
176,170
176,170
2145351
38,181
3,180
3,180
920
(2,260)
275,300
311,111
340,412
299301
391,290
411,728
6385498
2265770
12,090
123090
9,020
(3,070)
479,260
4793260
4195208
(60,052)
285,790
285,790
2769951
(89839)
81,150
81,150
885034
65884
452,430
578,702
7435227
164,525
222
222
2,2333880
29231,280
231799623
(51,657)
19520
11520
2,159
639
23600
19194
(1,406)
103030
10,030
25,325
15,295
9769130
197499130
2,499,100
749,970
711099220
79911,841
9,227,782
193159941
77
CITY OF DUBLIN
GENERAL FUND
SCHEDULE OF BUDGET VERSUS ACTUAL REVENUE BY SOURCES
FOR THE YEAR ENDED JUNE 30, 2014 (Continued)
Other revenues:
933080
Contributions
(42,168)
Sales of property
1059930
Miscellaneous
(229976)
Reimbursement -
general
Reimbursement -
public damage
Reimbursement -
Community benefit assessment
Sub -total
Total Revenue by Sources
Budgeted Amounts
Original
$78,250
Final
$89,750
Actual Amounts
Variance with
Final Budget
Positive
(Negative)
$111,092 $21,342
939080
933080
50,912
(42,168)
1059930
1059930
82,954
(229976)
199370
199370
10,845
(8,525)
1,4615210
1,8463210
23108,858
262,648
1,7579840
2,1549340
29364,661
210,321
$57,9555810
$62,5569023
$679872,121
$51316,098
ip
CITY OF DUBLIN
GENERAL FUND
SCHEDULE OF BUDGET VERSUS ACTUAL DEPARTMENTAL EXPENDITURES
FOR THE YEAR ENDED JUNE 30, 2014
General government:
City Council
City Manager
Election
Central services
City Attorney
Administrative services
Building management
Non - departmental
Sub -total
Public safety:
Police
Fire services
Disaster preparedness
Crossing guards
Animal control
Traffic signals and street lighting
Sub -total
Highways and streets:
Public works administration
Street maintenance
Street landscape maintenance
Sub -total
Health and welfare:
Environmental programs
Social services
Sub -total
Culture and leisure:
Community cable television
Library services
Heritage and Culture Arts
Park maintenance
Parks and community services
Parks and facilities management
Sub -total
Community development
Development services
Engineering
Economic development
Sub -total
Total Expenditures
Budgeted Amounts
Original
$433,930
1,338,970
3,120
1,540,470
777,810
2,274,140
999,520
1,494,810
Final
$433,930
1,338,970
3,120
1,562,727
852,810
2,384,505
1,018,420
2,175,803
Actual Amounts
$308,596
1,303,239
1,644
1,511,274
807,955
2,220,322
1,009,070
726,802
Variance with
Final Budget
Positive
(Negative)
$125,334
35,731
1,476
51,453
44,855
164,183
9,350
1,449,001
802,770 93770,285 79888,902 1,881,383
15,993,950
11,405,510
168,810
111,890
389,580
25,060
28,094,800
884,940
141,180
1,134,980
2,161,100
490,890
323,690
814,580
109,150
696,410
1,237,870
2,759,550
4,188,810
231,000
9,222,790
4,629,830
2,475,860
970,450
8,076,140
$57,232,180
79
16,406,220
11,601,359
168,810
111,890
389,580
25,060
28,702,919
932,703
148,999
1,169,861
2,251,563
335,010
515,664
850,674
109,150
696,410
1,238,310
2,765,550
4,376,251
429,462
9,615,133
5,750,894
2,569,667
1,263,450
9,584,011
$6097749585
14,856,448
10,757,354
128,029
111,843
273,122
13,954
26,140,750
902,266
137,205
1,132,475
2,171,946
323,317
475,266
798,583
102,629
694,288
1,197,205
2,655,855
4,257,825
398,235
9,306,037
5,442,819
2,557,665
982,545
8,983,029
$5592895247
1,549,772
844,005
40,781
47
116,458
11,106
2,562,169
30,437
11,794
37,386
79,617
11,693
40,398
52,091
6,521
2,122
41,105
109,695
118,426
31,227
309,096
308,075
12,002
280,905
600,982
$5,485,338
This Page Left Intentionally Blank
BUDGETED MAJOR GOVERNMENTAL FUNDS OTHER THAN
GENERAL FUND AND SPECIAL REVENUE FUNDS
The General Improvements Projects Capital Projects Fund - is used to manage the programming of
funds and activities associated with major Capital Improvements Projects. The Fund accumulates
resources for capital expenditures and utilizes those resources to support projects that are general in
nature and are not Streets, Parks, or Community Improvements projects.
The Community Improvements Projects Capital Projects Fund - is used to manage the programming of
funds and activities associated with major the Capital Improvements Projects. The Fund accumulates
resources for capital expenditures and utilizes those resources to support projects that would promote or
enhance redevelopment, revitalization, beautification of the City's community and are not General
Improvements, Streets or Parks related projects.
The Parks Projects Capital Projects Fund - is used to manage the programming of funds and activities
associated with major the Capital Improvements Projects. The Fund accumulates resources for capital
expenditures and utilizes those resources to support projects that would construct, improve, or enhance
the City's parks and facilities.
The Streets Projects Capital Projects Fund - is used to manage the programming of funds and activities
associated with major the Capital Improvements Projects. The Fund accumulates resources for capital
expenditures and utilizes those resources to support projects that would construct, improve, or enhance
the City's highways, streets, roads, bridges, lighting, or the storm drain systems.
The Public Facilities Impact 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 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.
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.
The Dublin Crossing Contribution Capital Projects Fund — accounts for community benefit payments
specific to the Dublin Crossings Project, separate from any developer impact fees generated by the
project.
CITY OF DUBLIN
GENERAL IMPROVEMENTS PROJECTS CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 305 2014
EXPENDITURES:
Capital outlay:
General improvements
Total Expenditures
REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE
ENDING FUND BALANCE
Budgeted Amounts
Original
Final Actual Amounts
Variance with
Final Budget
Positive
(Negative)
$95856,440 $15,6689497 $13,316,472 $2,352,025
9,856,440 153668,497 13,316,472 25352,025
(9,856,440) (153668,497) (13,3165472) 29352,025
9,856,440 1556655759 13,3323394 (253339365)
9,856,440 15,665,759 13,3329394 (2,333,365)
($2,738) 159922
$15,922
$18,660
CITY OF DUBLIN
COMMUNITY IMPROVEMENTS PROJECTS CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
EXPENDITURES:
Capital outlay:
Community improvements
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
ME 1001 AID :3�V1_\I[�1�1
ENDING FUND BALANCE
Budgeted Amounts
Original
Final Actual Amounts
$86,130 $83,380 $21,497
130 83,380 21,497
(86,130) (83,380) (21,497)
Variance with
Final Budget
Positive
(Negative)
61.883
61,883
130 86,130 22,351 (63,779)
130 86,130 22,351 (63,779)
$2,750
854 ($1,896)
ME
CITY OF DUBLIN
PARKS PROJECTS CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
EXPENDITURES:
Capital outlay:
Parks
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
ENDING FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 305 2014
Budgeted Amounts
Original
Final Actual Amounts
Variance with
Final Budget
Positive
(Negative)
$16,602,440 $1893809714 $993739830 $9,006,884
16,6025440 1893809714 9,3739830 990069884
(16,6025440) (1833809714) (95373,830) 990069884
$4,966
163605,420
189383,695
95378,796
(990049899)
16,6059420
189383,695
9,378,796
(950049899)
$29980
$2,981
4,966
$1,985
$4,966
CITY OF DUBLIN
STREETS PROJECTS CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
EXPENDITURES:
Capital outlay:
Streets
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
MCI ►1►II► s IJIM1111741W41 %x140
ENDING FUND BALANCE (DEFICIT)
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
Budgeted Amounts
Original
Final Actual Amounts
Variance with
Final Budget
Positive
(Negative)
$11,771,900 $11,095,322 $2,403,926 $8,691,396
11,771,900 1190959322 2,403,926 8,691,396
(11,771,900) (1190959322) (2,403,926) 856915396
11,771,900 1190959322 2,382,425 (8,712,897)
11,771,900 1190959322 2,382,425 (8,712,897)
(21,501)
($21,501)
($21,501)
CITY OF DUBLIN
PUBLIC FACILITIES MPACT FEES CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES:
Interest
Developer fees
Total Revenues
EXPENDITURES:
Capital outlay
Culture and leisure
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers out
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
ENDING FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
Budgeted Amounts
Original Final
$205,140 $205,140
7,420,840 7,420,840
7,625,980 7,625,980
314.140
314.140
7.311.840
314.140
314.140
7.311.840
Actual Amounts
$149,426
7,614,380
7.763.806
77.827
77.827
Variance with
Final Budget
Positive
(Negative)
($55,714)
193,540
137,826
236,313
236,313
7055979 374,139
(14,152,490) (1539309765) (7,3905307) 8,540,458
(14,152,490)
(15,9305765)
(753905307)
8,5405458
($6,840,650)
($8,6185925)
2955672
$8,914,597
Me
28,989,875
$29,285,547
CITY OF DUBLIN
FIRE IMPACT FEES CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 305 2014
REVENUES:
Developer fees
Total Revenues
EXPENDITURES:
Current:
Public safety
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE (DEFICIT)
ENDING FUND BALANCE (DEFICIT)
191,120
$191,120
Ei1A
1919120 196,699 55579
$191,120 196,699 $5,579
(1,0985607)
($901,908)
Variance with
Budgeted Amounts
Final Budget
Positive
Original Final
Actual Amounts
(Negative)
$191,120 $191,120
$201,664
$105544
191,120 191,120
201,664
10,544
4,965
(45965)
45965
(45965)
191,120
$191,120
Ei1A
1919120 196,699 55579
$191,120 196,699 $5,579
(1,0985607)
($901,908)
CITY OF DUBLIN
TRAFFIC IMPACT FEES CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES:
Interest
Developer fees
Otherrevenue
Total Revenues
EXPENDITURES:
Current:
General government
Community development
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers out
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCE
FiT011AIR 1► 1►11 C : : ►
ENDING FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
Budgeted Amounts
Original
$70,310
1,952,480
90,530
Final
$70,310
2,956,430
90.530
Actual Amounts
$57,200
4,716,876
Variance with
Final Budget
Positive
(Negative)
($13,110)
1,760,446
(90,530)
2,113,320 39117,270 4,774.076 1,656,806
5109362 510,361 1
000 1489336 M81 140,155
000 658,698 518,542 140,156
2,093,320 2,458,572 4,2555534 15796,962
(6,109,890)
(4,661,252)
(892,455)
3,768,797
(6,109,890)
(45661,252)
(892,455)
33768,797
($4,016,570)
($21202,680)
39363,079
$5,565,759
9,542,553
S12,905,632
CITY OF DUBLIN
DUBLIN CROSSING CONTRIBUTION CAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES:
Interest
Developer fees
Total Revenues
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
NET CHANGE IN FUND BALANCE
BEGINNING FUND BALANCE
ENDING FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
Budgeted Amounts
Original
Final
Actual Amounts
Variance with
Final Budget
Positive
(Negative)
$76 $76
49,999 4%999
50,075 50,075
50,075 50,075
50,075 $50,075
$50,075
This Page Left Intentionally Blank
NON -MAJOR GOVERNMENTAL FUNDS
Special Revenue
Funds
are used to
account for the proceeds
of specific revenue sources (other than major capital
projects) that are
legally
restricted to
expenditures for specific
purposes.
SPECIAL REVENUE FUND
PUBLIC SAFETY:
SPECIAL CRIMINAL ACTIVITY
Established to account for receipt of funds derived from asset forfeitures.
VEHICLE ABATEMENT
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 (SLESJCOPS)
Established to account for police expenditures funded by a State grant.
TRAFFIC SAFETY
Established to account for the receipt of traffic fines and traffic safety expenditures.
FEDERAL ASSET SEIZURE
Established to account for the receipts and expenditures of the Federal seizure funds.
EMERGENCY MEDICAL SERVICES (EMS)
Established to account for excise taxes received to fund the costs of providing Emergency Medical Services.
ENFORCEMENT GRANTS
Established to account for miscellaneous grants received for police expenditures not reported in the above funds.
TRANSPORTATION:
STATE GAS TAX
Established to account for the receipt of state gasoline taxes and expenditures.
SAFETEA -LU
Established to account for the revenue received from the U.S. Department of Transportation under the Safe,
Accountable, Flexible, Efficient Transportation Equity Act: A Legal for Users fund.
NON -MAJOR GOVERNMENTAL FUNDS (Continued)
MEASURE B SALES TAX — LOCAL STREETS
Established to account for an Alameda County voter sales tax used for improvements on streets and roads.
MEASURE B SALES TAX — BIKE PEDESTRIAN
Established to account for an Alameda County voter approved increase in sales tax used for bike and pedestrian
related projects.
CONGESTION MANAGEMENT AGENCY
Established to account for funds received from the Alameda County Congestion Management Agency,
HIGHWAY SAFETY TRAFFIC REDUCTION BOND
Established to account for the receipts of funds for local streets and road improvements.
FEDERAL TRANSPORTATION (TIGER)
Established to account for the receipts of Federal grants for approved street and trail improvements funded by a
one -time Federal grants.
ACTC VEHICLE REGISTRATION FEE
Established to account
for an
Alameda County Transportation Commission
(ACTC) voter approved increase in
vehicle registration fee
that is
distributed by ACTC to be used for street and
road system maintenance.
ENVIl20NMENTAL0
GARBAGE/RECYCLING
Established to account for the following activities:
Measure D Recycling
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. This fund also accounts for other locally
derived funds for recycling related activities.
Garbage Service
Established to account for the use of funds received which are levied by the county on behalf of the City for
garbage pick -up and removal and recycling services.
Local Recycling
Established to account for locally derived funds collected for a commercial organic and recycling program
and activities retained by the City at the end of the franchise held by Waste Management Inc. These funds
are independent of the funds distributed by Stop Waste pursuant to the Alameda County Recycling
Measure.
92
NON -MAJOR GOVERNMENTAL FUNDS (Continued)
AVI ECONOMIC BENEFIT/BUSINESS ASSISTANCE PROGRAM
Established to account for the grant received from Amador Valley Industry and to provide business owners
funding for eligible environmental related improvements.
STORM WATER MANAGEMENT
Established to account for the following activities:
Storm Water Management
Established to account for the funds received from the State and designated specifically for the use of storm
water related activities.
DublinlDougherty Storm Water Management
Established to account for funds designated for the management of the Dublin/Dougherty area storm water
units.
Village Parkway Storm Water Management
Established to account for funds designated for management of the Village Parkway area storm water units.
BOX CULVERT
Established to account for the funds designated for the maintenance and repairs of box culvert in the East Dublin
area.
EAST BAY REGIONAL PARK DISTRICT
Establish to account for the funds received from the East Bay Regional Park District from the Measure WW -
Extend Existing East Bay Regional Park District Bond With No Increase In Tax Rate approved by voters on
November 4, 2008.
PUBLIC ART
Establish to account for the fees received from developers of properties, which can only be used for the purchase
design, development, and construction of Public Art projects within the City of Dublin.
MISCELLANEOUS REVENUE
Established to account for the following activities:
Cable TV Facilities
Established to
account
for Cable TV Facilities
fees collected
from
Cable Television providers and passed
through to the
City for
local cable television as
allowed under
State
and Federal franchising laws.
93
NON -MAJOR GOVERNMENTAL FUNDS (Continued)
Noise Mitigation
Establish to account for the fees received from developers of properties, which can only be used for the
noise mitigation measures.
Citywide Events (Customer Service) Fund
Establish to account for event ticket sales and donations, to be spent on special events citywide.
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG)
Used to account for grants and expenditures related to Community Development Block Grants received.
MAINTENANCE DISTRICTS:
Established to account for revenue and related expenditures of lighting and landscape districts.
E
This Page Left Intentionally Blank
CITY OF DUBLIN
NON -MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEETS
ASSETS
Cash and investments
Accounts receivable
Total Assets
LIABILITIES
Accounts payable
Deposits payable
Contract retention payable
Due to other funds
Total Liabilities
FUND BALANCE (DEFICIT)
Fund balance (Deficit):
Restricted
Public safety programs
Street maintenance and construction
Health and welfare programs
Recycling programs
Capital improvement projects
Total Fund Balances (Deficits)
Total Liabilities and Fund Balances (Deficits)
JUNE 303 2014
Special
Criminal
Activity
$77,317
Special Revenue Funds
Supplemental
Vehicle Law
Abatement Enforcement
$246,327
7,965
$27,800
Traffic Safety
$246,704
40,652
$77,317 $254,292 $2700 $287,356
$38
5,930
5,968
71,349
$254,292
$25,300
$49,243
25,300 4%243
23500 238,113
71,349 254,292 2,500 2389113
$77,317 $2543292 $27,800 $287,356
=01
Federal Asset
Seizure
$315,118
Emergency
Medical
Services
Special Revenue Funds
Enforcement
Grants State Gas Tax
$90,309 $55559 $3,232,746
30,834 435860
SAFETEA -LU
Measure B
Sales Tax
Local Streets
$355862 $754,115
62,204
$315,118 $121,143 $5,559 $3,276,606 $35,862 $816,319
$3,136 $935007
$1,161 $24,801
35136 9307 1,161 24,801
311,982
28,136
4,398
3,251,805
$35,862
$816,319
3119982 28,136 4,398 39251,805 35,862 816,319
$315,118 $121,143 $5,559 $332763606 $35,862 $816,319
(Continued)
97
ASSETS
Cash and investments
Accounts receivable
Total Assets
LIABILITIES
Accounts payable
Deposits payable
Contract retention payable
Due to other funds
Total Liabilities
FUND BALANCE (DEFICIT)
Fund balance (Deficit):
Restricted
Public safety programs
Street maintenance and construction
Health and welfare programs
Recycling programs
Capital improvement projects
Total Fund Balances (Deficits)
CITY OF DUBLIN
NON -MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEETS
JUNE 30, 2014
Measure B
Sales Tax
Bike/Pedestrian
$45,633
12,503
Special Revenue Funds
Congestion
Management
Agency
$290,981
Highway
Safety
Traffic
Reduction Bond
$4,299
Federal
Transportation
(TIGER)
$22,917
$585136 $290,981 $4,299 $223917
$5,356
$290,981
5,356 2905981
52,780
52,780
1h� •�
$23,496
23,496
(579)
4,299 (579)
Total Liabilities and Fund Balances (Deficits) $58,136 $290,981 $45299 $22,917
••
ACTC
Vehicle
Registration
Fee TDA
$102,417
42.373
Special Revenue Funds
AVI Economic Storm
Garbage/ Benefit/Business Water
Recycling Assistance Program Management
$344,352 $38 $2103223
70,573 2,912
Box Culvert
$357,847
$1445790 $414,925 $38 $2135135 $3579847
$59,312
$57,146
$25,844
5%312 57,146 25,844
85,478
(57,146)
0169%119611
85,478 (575146) 389,081
M4
$55,289
1573846 $3579847
213,135 357,847
$144,790 $414,925 $38 $213,135 $357,847
(Continued)
WO
CITY OF DUBLIN
NON MAJOR GOVERNMENTAL FUNDS
COMBESUNG BALANCE SHEETS
ASSETS
Cash and investments
Accounts receivable
Total Assets
LIABILITIES
Accounts payable
Deposits payable
Contract retention payable
Due to other funds
Total Liabilities
FUND BALANCE (DEFICIT)
Fund balance (Deficit):
Restricted
Public safety programs
Street maintenance and construction
Health and welfare programs
Recycling programs
Capital improvement projects
Total Fund Balances (Deficits)
Total Liabilities and Fund Balances (Deficits)
JUNE 30, 2014
East Bay
Regional
Park District
$34,464
Special Revenue Funds
Public Art
$2,144,482
Miscellaneous
Special
Revenue
Community
Development
Block Grant
$252,828
409945 $35,756
$211445482 $2935773 $353756
$4,816
$1,836
$5,437
30,320
345464 45816 1,836 35,757
(34,464)
2,139,666
291,937
(1)
(34,464) 2,1393666 291,937 (1)
100
$29144,482 $2933773 $35,756
Special Revenue Funds
Maintenance Districts
1983 -1 1983 -2 1986 -1 1997 -1 1999 7
Street Stagecoach Dougherty Santa Rita East Dublin
Lighting Landscape Landscape Landscape Street Lighting
Total
Non -Major
Governmental
Funds
$2165895
$47,577
$1123614
$265,386
$412,348
$995483796
5,916
533
51
6,572
038
718,885
$222,811
$48,110
$112,665
$2713958
$4135686
$10,267,681
$22,181
$5,262 $17,552
$37,250 $251342
13,575
$405,038
7,766
13,575
436,407
225181 5,262 171552 37,250 38,917 862,786
200,630
42,848
95,113
234,708
374,769
1,574,907
5,009,266
291,975
389,081
2,139,666
200,630 42,848 959113 234,708 3749769 9,4049895
$222,811 $48,110 $1123665 $271,958 $413,686 $10,267,681
101
CITY OF DUBLIN
NON -MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENTS OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfer in
Transfer out
Total Other Financing Sources (Uses)
�I .: ► h 1� I : � �II.`7
FUND BALANCES (DEFICITS):
Beginning of year
End of year
Special Revenue Funds
Special Supplemental
Criminal Vehicle Law
Activity Abatement Enforcement Traffic Safety
$305331 $1023218 $32,380
$359 1,160 133 833
211,886
31,525 82608
319884 315491 102,351 2539707
1,543 652
1,543 652
30,341 305839
302341 303839
100,000
114,785
32,380
100,000 147,165
51 106,542
2,351
106,542
415008 2239453 149 1319571
$71,349 $254,292 $2,500 $238,113
102
Federal Asset
Seizure
$1,829
Emergency
Medical
Services
$161,947
Special Revenue Funds
Enforcement
Grants State Gas Tax SAFETEA -LU
177,337 $5,906 $1,511,326 $423132
Measure B
Sales Tax
Local Streets
$385,015
294 19 14,548 4,044
1879126 355862 715206
1,829 339,578 5,925 1,713,000 77,994 460,265
98,751
333,992
5,945
61,663
345,805
6,000
98,751 3339992 51945 413,468
(96,922) 5,586 (20) 192999532 77,994 4603265
(96,922)
5,586
(20)
(3919360) (42,132) (518,107)
(391,360) (425132) (518,107)
908,172
408,904 22,550 4,418 2,343,633
351862 (57,842)
874,161
$311,982 $28,136 $4,398 $3,251,805 $35,862 $816,319
(Continued)
103
CITY OF DUBLIN
NON -MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENTS OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 305 2014
Measure B
Sales Tax
Bike/Pedestrian
REVENUES
Property taxes
Taxes other than property $135,524
Intergovernmental
Charges for service
Interest 91
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues 135,615
EXPENDITURES
Current:
Public safety
Highways and streets 9,438
Health and welfare
Cultural and leisure
Community development 48,611
Total Expenditures 581049
REVENUES OVER
(UNDER) EXPENDITURES 775566
OTHER FINANCING SOURCES (USES)
Transfer in 23,490
Transfer out (54,789)
Total Other Financing Sources (Uses) (31,299)
NET CHANGE IN FUND BALANCES 469267
FUND BALANCES (DEFICITS):
Beginning of year 6,513
End of year
$52,780
104
Special Revenue Funds
Highway
Congestion Safety Federal
Management Traffic Transportation
Agency Reduction Bond (TIGER)
17
17
$7,831
7,831
$22,911
22,911
(7,814) 22,911
(7,814)
12,113
(23,490)
(23,490)
(579)
$4,299 ($579)
Special Revenue Funds
ACTC
Vehicle AVI Economic Storm
Registration Garbage/ Benefit/Business Water
Fee TDA Recycling Assistance Program Management Box Culvert
$236,324 $169,146
2,893,149
1,109 2,412
561 13,449
237,994
151,334
151,334
86,660
(3295685) ($573146)
(3295685) (575146)
(243,025) (57,146)
3,078,156
8,720
2,966,043
2,974,763
103,393
103,393
328,503 285,688
$853478 ($57,146) $389,081
105
$38 1,070
38 1,070
29,942
29,942
$1,758
758
38 (28,872) 1,758
(5,031)
(5,031)
38 (33,903)
1,758
247,038 3563089
$38 $213,135 $357,847
(Continued)
CITY OF DUBLIN
NON -MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENTS OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfer in
Transfer out
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCES (DEFICITS):
Beginning of year
East Bay
Regional
Park District
($34,464)
(34,464)
(34,464)
Special Revenue Funds
Public Art
$9,633
545,380
Miscellaneous
Special
Revenue
$155,945
939
. 1::
Community
Development
Block Grant
$52,574
555,013 162,972 523574
8,047
43,692
45,975
85047 43,692 45,975
5465966 119,280 65599
546,966
119,280
1,5923700 1723657
(6,600)
(6,600)
(1)
End of year ($34,464) $2,139,666 $291,937 ($1)
l:
Special Revenue Funds
Maintenance Districts
1983 -1 1983 -2 1986 -1 1997 -1 1999 -1
Street Stagecoach Dougherty Santa Rita East Dublin
Lighting Landscape Landscape Landscape Street Lighting
M
M
$445
$1,276
$2,435
2883085 78,518 121,981 282,377 2545278
Total
Nonmajor
Governmental
Funds
$161,947
520,539
2,373,977
3,049,094
45,537
211,886
551,468
348,337
1,025,239
2889972 78,726 122,426 283,653 256,713 852883024
263,778
75,995
100,254 2929329
103,339
7,254 3,211 33573 53017 5,478
1,227,174
870,530
3,019,849
43,692
111,524
271,032 79,206 1039827 2973346 1085817 592729769
17,940 (480) 18,599 (135693) 147,896 390155255
17,940
-m
182,690 43,328
$200,630
23,490
(271,504) (15734,308)
(271,504) (11710,818)
182599 (13,693) (123,608) 1,3041437
14 248,401 498,377 891002458
$42,848 $95,113 $234,708
107
$374,769 $9,4045895
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
SPECIAL CRIMINAL ACTIVITY
Budgeted Amounts
Original Final
$1,280 $1,280
Actual
Elm
31,525
Variance
Positive
(Negative)
($921)
31,525
1,280 1,280 3104 30,604
M:1
m
1,543
2,937
45480 45480 1,543 2,937
(3,200) (3,200) 30,341 33,541
($3,200) ($33200) 303341
1'
41,008
$71.349
$33,541
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
VEHICLE ABATEMENT
Budgeted Amounts
Original Final
109
$30,460
3,060
$30,460
3,060
Variance
Positive
Actual (Negative)
$30,331 ($129)
13160 (1,900)
33,520 335520 31,491 (2,029)
1,000
1,000
1,000 13000
652
652
MUO
32,520 323520 303839 (1,681)
(20,910) (209910)
(20,910) (209910)
$11,610 $11,610 305839
223,453
$254,292
20,910
20,910
$19,229
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
SUPPLEMENTAL LAW ENFORCEMENT
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
$100,000
11111
$100,000 $102,218 $2,218
133 133
10 0, 00 0 100, 000 102,351 21351
100,000 10 0, 000 100,000
100, 000 100.000 1005000
2.351 2,351
2.351 $2,351
149
$2.500
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
TRAFFIC SAFETY
Budgeted Amounts
Original Final
$32,350
$1483280 148,280
Actual
$32,380
833
211,886
OWO
Variance
Positive
(Negative)
$30
833
63,606
:.1:
148,280 18030 253,707 73,077
120,030 12000 114,785
32,380 32,380
5,215
120,030 152,380 1475165 5,215
28,250 28,250 106,542 78,292
$28,250 $28,250 106,542
111
131
$238,113
$78,292
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
FEDERAL ASSET SEIZURE
Budgeted Amounts
Original Final
1910],
$19360 $1,360
Actual
$1,829
1,360 13360 19829
100,000 989751
Variance
Positive
(Negative)
1,249
100,000 98,751 11249
1,360 (98,640) (96,922) 13718
$15360 ($98,640)
(96,922) $1,718
408,904
$311,982
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
100110Z0c11rAZI070ATeft
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
EMERGENCY MEDICAL SERVICES
Budgeted Amounts
Original Final
$159,000
113
177,630
$159,000
177,630
Variance
Positive
Actual (Negative)
$161,947 $21947
177.337 (293)
294 294
336,630 336,630 339.578 2,948
33700 351,231 333,992 17,239
3375080 3515231 333,992 17,239
(450) (14,601) 5,586
($450) ($14,601) 5,586
22,550
$28,136
187
$20,187
CITY OF DUBLIN
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
ENFORCEMENT GRANT
Budgeted Amounts
Original Final
114
$1,230 $6,130
Variance
Positive
Actual (Negative)
$5,906 ($224)
19 19
1,230 6330 5,925 (205)
1,230 6,130 5,945
1,230 6,130 5,945
185
185
(20) (20)
(20) ($20)
4,418
$4,398
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
ll :11►� l i7_ X O 1 1Ml-
FOR i l
THE YEAR ENDED JUNE 305 2014
STATE GAS TAX
Budgeted Amounts
Original Final
$1,420,640
21,050
$1,420,640
21,050
Variance
Positive
Actual (Negative)
$1,5113326 $909686
14,548 (6,502)
187,126 1873126
1,44100 13441,690 1,7133000 271,310
42,000 61,663 61,663
477,310 533,647 345.805 187,842
63000 6,000 6,000
5253310 601,310 4133468 187,842
916,380 8403380 1,299,532 459,152
(1,2209910) (1,531,202) (391.360) 1,139,842
(1,220,910)
(19531,202)
(391,360)
1,139,842
($304,530)
($690,822)
908,172
$1,598,994
115
2,343,633
$3,251,805
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
SAFETEA -LU
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
REVENUES
Property taxes
Taxes other than property
Intergovernmental $5243427 $42,132 ($482,295)
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue 3502 35,862
Special assessments
Total Revenues 524,427 773994 (446,433)
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
116
524,427 779994 (446,433)
(43,132) (429132) 1,000
(43,132) (42,132) 1,000
$4811295 359862 ($445,433)
$35,862
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
I►�I � 1��1/:�C�7� 1�1�i�I X7:1\ 11_ \�[y DT.`l
FUND BALANCE (DEFICITS):
Beginning of year
End of year
MEASURE B SALES TAX LOCAL STREETS
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
$366,370 $366,370 $385,015 $18,645
7,270 79270 4,044 (3,226)
2,0001000 21000,000 71,206 (1,9285794)
2,3735640 2.3735640 4603265 (1,913,375)
23373,640 2,373,640 4603265 (15913,375)
(330665020) (3,0953089) (5183107) 2,5769982
(35066,020) (3,095,089) (5183107) 295769982
($692,380) ($721,449)
117
(575842) $663,607
874,161
$816,319
CITY OF DUBLIN I
BUDGETED NON-MAJOR FUNDS
SCHEDULE OF REVENUES,EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30,2014
II
I
MEASURE B SALES TAX BIKE/PEDESTRIAN
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
REVENUES
I
Property taxes
Taxes other than property $130,570 $130,570 $135,524 $4,954
Intergovernmental
Charges for service
Interest 2,200 2,200 91 (2,109) Il
Fines and forfeitures
Developer fees
Other revenue I
Special assessments
Total Revenues 132,770 132,770 135,615 2,845
EXPENDITURES
Current:
Public safety
Highways and streets 20,110 20,110 9,438 10,672
Health and welfare
Cultural and leisure
Community development 66,350 48,611 17,739
I
Total Expenditures 20,110 86,460 58,049 28,411
REVENUES OVER
(UNDER)EXPENDITURES 112,660 46,310 77,566 31,256
OTHER FINANCING SOURCES(USES)
I
Transfers in 23,490 23,490
Transfers(out) (60,300) (60,300) (54,789) 5,511
Total Other Financing Sources(Uses) (60,300) (60,300) (31,299) 29,001
NET CHANGE IN FUND BALANCES $52,360 ($13,990) 46,267 $60,257
FUND BALANCE(DEFICITS): I
Beginning of year 6,513
End of year $52,780 I
I
I
118 1
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
CONGESTION MANAGEMENT AGENCY
Budgeted Amounts
Original Final
I
Actual
Variance
Positive
(Negative)
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 3 0, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
HIGHWAY SAFETY
TRAFFIC REDUCTION BOND
Budgeted Amounts
Original Final
($24,300) ($24,300)
(24,300) (24,300)
($24,300) ($245300)
120
Variance
Positive
Actual (Negative)
$17
17
7,831
$17
17
(7,831)
7,831 (75831)
(75814) (79814)
24,300
24,300
(7,814) $165486
12,113
$4,299
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
FUND BALANCE (DEFICITS):
Beginning of year
End of year
FEDERAL TRANSPORTATION
(TIGER)
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
121
$22,911
$22,911
22,911 22,911
22,911
($233490) (23,490)
(239490) (23,490)
($23,490)
911
(579) $22,911
($579)
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
ACTC VEHICLE REGISTRATION FEE
Budgeted Amounts
Original Final
$217,160
Actual
$2173160 $236,324
217,160 217,160
1725080 17200
1,109
$561
Variance
Positive
(Negative)
$19,164
1,109
561
237,994 20,834
151,334 20,746
1729080
172,080
151,334
20,746
45,080
45,080
86.660
41,580
(459250) (326,531) (329,685) (3,154)
(45,250) (326,531) (3299685) (3,154)
122
($170) ($281,451)
(243,025) $38,426
328,503
$85,478
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
1:
Budgeted Amounts
Original Final
$163,100
163,100
$163,100
163.100
1633100 163,100
Actual
Variance
Positive
(Negative)
($163,100)
(163.100)
(163,100)
(1633100) (207,396) ($57,146) 150,250
(1635100) (207,396) (57,146) 1503250
123
($44,296) (57,146) ($12,850)
($57,146)
CITY OF DUBLIN
*viol 1Ze1:l10 al Is) zaUy GOM:11INLI
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
GARBAGE/RECYCLING
Budgeted Amounts
Original Final
$163,480
2,638,210
1,750
$163,787
2,851,980
1,750
3,962
Variance
Positive
Actual (Negative)
$1693146
$5,359
2,8933149
41,169
2,412
662
135449
%487
2,803,440 350211479 3,0785156 56,677
65680 8,720 8,720
25755.560 3,016,147 2,9665043 50,104
2,762,240 3,024,867 2,974,763 50,104
41,200 (3,388) 103,393 106,781
$415200 ($35388) 103,393
124
285.688
$389,081
$ 106,781
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
AVI ECONOMIC BENEFITBUSINESS
ASSISTANCE PROGRAM
Budgeted Amounts
Original Final
125
Variance
Positive
Actual (Negative)
M
38
W6
0:3
$38
M
38
38
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
STORM WATER MANAGEMENT
Budgeted Amounts
Original Final
$756,770
2,280
$756,770
2,280
Actual
$1,070
Variance
Positive
(Negative)
($756,770)
(1,210)
7599050 759,050 13070 (757,980)
10,000 10,426
10,000 10,426
29,942 (195516)
942 (195516)
749,050 748,624 (28,872) (777,496)
(764,380)
(771,748)
(5,031)
766,717
(7649380)
(771,748)
(51031)
7663717
($15,330)
($23,124)
(33,903)
($10,779)
126
247.038
$213,135
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Otherrevenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
BOX CULVERT
Budgeted Amounts
Original Final
$4,050 $4,050
Actual
$1,758
Variance
Positive
(Negative)
($2,292)
49050 4,050 1,758 (23292)
4,050
49050
1,758
(2,292)
$4,050
$4,050
15758
($2,292)
127
356,089
$357,847
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
EAST BAY REGIONAL PARK DISTRICT
Budgeted Amounts
Original Final
$15500 $1555000
155,000 1555000
1553000 155,000
Actual
Variance
Positive
(Negative)
($155,000)
(155,000)
(155,000)
(155,000) (155,000) ($34,464) 1209536
(155,000) (155,000) (34,464) 1209536
128
(34,464) ($349464)
($34,464)
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
PUBLIC ART
Budgeted Amounts
Original Final
$3,290 $3,290
129
500,835
Variance
Positive
Actual (Negative)
$9,633 $6,343
5455380 445545
3,290 504,125 555,013 505888
2,500 85047 8,047
2,500 8,047 8,047
790 496,078 546,966 50,888
$790 $4965078 5463966 $505888
1,592,700
$2,139,666
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
ITEM
End of year
FOR THE YEAR ENDED JUNE 30, 2014
130
MISCELLANEOUS SPECIAL REVENUE
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
$135,000
3,730
3,310
$135,000
3,730
3,310
$155,945
939
ME
$20,945
(2,791)
2,778
142,040 142,040 162,972 20,932
35,340 56,840 43,692 13,148
35,340 56,840 43,692 13,148
106,700 853200 119,280
$106,700 $85,200 119,280
172,657
$291,937
9:I
$34,080
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Begin mi g of year
End of year
131
CONOAUNITY DEVELOPMENT BLOCK GRANT
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
$51,780 $56,780 $52,574 ($43206)
51,780 56,780 52,574 (4,206)
513780 50,180 45,975 4,205
512780 50,180 455975 4,205
6,600 6,599
(61600) (65600)
(61600) (65600)
(1) ($1)
($1)
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Otherrevenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
132
1983 -1 STREET LIGHTING
MAINTENANCE DISTRICT
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
$1,880 $1,880 $887 ($993)
29500 25500 (2,500)
2851590 285,590 288,085 2,495
289,970 289,970 288,972 (998)
3505370 2657050 263,778
9,440 9440 7,254
1,272
:.
359,810 274,490 271,032 3,458
(699840) 152480 17,940 2,460
(2,820) (2,820)
(2,820) (2,820)
($7200) $12,660 17,940
182,690
$200,630
2,820
2,820
$5,280
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures'
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
133
1983 -2 STAGECOACH LANDSCAPE
MAINTENANCE DISTRICT
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
$650 $650 $208 ($442)
81,980 813980 78,518 (3,462)
82,630 82,630 785726 (3,904)
735960 75,995 75,995
4,010 4,010 3,211 799
77,970 809005 79,206 799
4,660 21625 (480) (3,105)
(750) (750)
(750) (750)
$35910 $1,875
750
750
(480) ($2,355)
43,328
$42,848
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 309 2014
134
1986 -1 DOUGHERTY LANDSCAPE
MAINTENANCE DISTRICT
Budgeted Amounts
Original Final
$1,110 $1,110
Variance
Positive
Actual (Negative)
$445 ($665)
121,830 121,830 121,981 151
122,940 122,940 1223426 (514)
125,370 125,370 1001254 25,116
400 400 3,573 11117
130,060 130,060 103,827 26,233
(7,120) (7,120) 18,599
1:1 $0
(100) (1,080)
($8,200) ($8,200) 18,599
76,514
$95,113
25,719
1,080
1,080
$26,799
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Otherrevenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
:��
End of year
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
135
1997 -1 SANTA RITA LANDSCAPE
MAINTENANCE DISTRICT
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
$35500 $3,500 $1,276 ($2,224)
2962790 296,790 2825377 (14,413)
3002290 300,290 2833653 (16,637)
316,340 316,340 292,329 24,011
7,940 71940 5,017 2,923
324,280 324,280 297,346 26,934
(23,990) (23,990) (13,693) 101297
(32130) (33130)
(39130) (32130)
($27120) ($273120)
3,130
130
(133693) $13,427
248,401
$234,708
CITY OF DUBLIN
BUDGETED NON -MAJOR FUNDS
SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES
Property taxes
Taxes other than property
Intergovernmental
Charges for service
Interest
Fines and forfeitures
Developer fees
Other revenue
Special assessments
Total Revenues
EXPENDITURES
Current:
Public safety
Highways and streets
Health and welfare
Cultural and leisure
Community development
Total Expenditures
REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Total Other Financing Sources (Uses)
NET CHANGE IN FUND BALANCES
FUND BALANCE (DEFICITS):
Beginning of year
End of year
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2014
1999 -1 EAST DUBLIN STREET LIGHTING
MAINTENANCE DISTRICT
Variance
Budgeted Amounts Positive
Original Final Actual (Negative)
$5,950 $5,950 $2435 ($3,515)
238,770 238,770 2545278 151508
720 244,720 2565713 11,993
2545620 124,286 1033339 205947
6,890
6,890
5,478
1,412
2619510
131,176
108,817
22,359
136
- 16,790 113,544 147,896 34,352
(32,080) (315,881) (2713504) 44,377
(32,080) (3155881) (2713504) 44,377
($481870) ($2022337)
(123,608) $785729
498,377
$374,769
INTERNAL SERVICE FUND
Internal Service Funds are used to account for the financing of goods or services provided by one department or
agency to other departments or agencies of the City on a cost reimbursement basis. The City has established five
of these types of funds:
VEHICLE REPLACEMENT
This fund is an interest bearing Internal Service Fund established to finance necessary vehicle replacements.
BUILDING REPLACEMENT
This fund is an interest bearing Internal Service Fund established to finance future major building component
repair expenditures.
EQUIPMENT REPLACEMENT
This fund is an interest bearing Internal Service Fund established to finance necessary equipment
replacements.
JA 1IZ "11,11"W41101 JO 1'
This fund is an interest bearing Internal Service Fund established to account for the on -going maintenance
and repairs of vehicle and office equipment.
RETIREE HEALTH CARE
This fund is an interest bearing Internal Service Fund established to account for the contribution made to the
California Employers' Retiree Benefit Trust Fund for future retiree health care benefits.
PERS SIDE FUND
This fund was established to account for the repayment to the general fund for the advance made in fiscal
year 2007 -2008 to pay CalPERS for the City's Side Fund obligation. The Side Fund was created in 2005
when Ca1PERS assigned agencies with less than 100 participants to a risk sharing pool. The City elected to
pre -pay its obligation from the General Fund reserves and an internal service charge is made each year to
repay the reserve.
PARK REPLACEMENT
This fund was established to finance future major maintenance and repairs of City's parks.
ENERGY EFFICIENCY
This fund was established to account for the financing and construction of the Energy Efficiency Upgrade
Capital Project.
137
CITY OF DUBLIN
INTERNAL SERVICE FUNDS
COMBINING STATEMENTS OF NET POSITION
June 30, 2014
Vehicle
Building
Equipment
Maintenance
Replacement
Replacement
Replacement
and Repair
ASSETS
Current Assets:
Cash and investments
$2,7179577
$4,487,289
$23652,655
$348,749
Restricted cash
Prepaid items
371464
Accounts receivable
Total current assets
257175577
41487,289
256529655
3869213
Noncurrent Assets:
Land
10,774,792
Construction in progress
4,5409594
389,126
Building and improvements
62,1159075
Vehicles and equipment
35841,714
428,100
23376,539
Less: accumulated depreciation
(25688,198)
(289183,275)
(15935,234)
Total non - current assets
1,1539516
49,6759286
830,431
Total Assets
358719093
549162,575
35483,086
386,213
LIABILITIES
Current Liabilities:
Accounts payable and accruals
22,990
23,233
Contract retentions payable
133174
Capital lease
Total current liabilities
225990
13,174
23,233
Noncurrent Liabilities:
Capital lease
Advances from other funds
Total non - current liabilities
Total Liabilities
22,990
13,174
23,233
NET POSITION (DEFICIT)
Net Investment in capital assets 1,1535516 49,6759286 830,431
Restricted
Unrestricted 256945587 4,4741115 2,6525655 3625980
Total Net Position
$3,848,103
138
$5451493401 $354833086
$362,980
Retiree
PERS
Park
Energy
Health Care
Side Fund
Replacement
Efficiency
Total
$2125905
$317,352
$2,628
$10,7399155
546,515
5469515
37,464
1095651
109,651
3223556
317,352
549,143
11,432,785
10,774,792
4,929,720
62,115,075
6,646,353
(329806,707)
51,659,233
322,556
317,352
549,143
6390929018
2969702
342,925
333,145
346,319
378,995
378,995
2963702
712,140
150689239
5,749,811
5,749,811
$1,2819035
19281,035
1,2819035
5,749,811
790309846
2969702
132819035
63461,951
890999085
259854 (192819035) 317,352 (5,9123808)
$259854 ($1,281,035) $3179352 ($5,9125808)
IRM
51,659,233
3,333,700
$54,992,933
CITY OF DUBLIN
INTERNAL SERVICE FUNDS
COMBINING STATEMENTS OF REVENUES, EXPENSES AND
CHANGES IN FUND NET POSITION
FOR THE YEAR ENDED JUNE 30, 2014
OPERATING REVENUES
Charges for services
Other revenue
Total Operating Revenues
OPERATING EXPENSES
Supplies and services
OPEB expenses
Depreciation
Interest and fiscal charges
Total Operating Expenses
Operating Income (Loss)
NONOPERATING REVENUES (EXPENSES)
Interest income
Gain from sale of property
Total Nonoperating Revenues (Expenses)
Income (Loss) Before Contributions and Transfers
Contributions
Transfer (out)
Net transfers
Change in Net Position
BEGINNING NET POSITION (DEFICIT)
ENDING NET POSITION (DEFICIT)
Vehicle
Building
Equipment
Maintenance
Replacement
Replacement
Replacement
and Repair
$366,427
39,537
$164,916
$625,455
$497,036
3,781
405,964 164,916 6255455 500,817
611,232 3741795
278,167
2,114,297
56,116
8899399
2,114,297
56,116
374,795
(4839435)
(19949,381)
569,339
126,022
149730
34,041
125418
1,515
28,489
43,219
343041
12,418
1,515
(440,216)
(199153340)
581,757
127,537
3,988,232
339,785
(4,298,673) (171J33)
(310,441) 168,052
(440,216) (2,225,781) 7499809 127,537
4,288,319 56,375,182 2,7335277 235,443
$3,848,103 $54,149,401 $3,483,086 $362,980
140
Retiree PERS Park Energy
Health Care Side Fund Replacement Efficiency Total
$1,272,957
468,298
1,741,255
1,741,256
1,741,256
(1)
$361,733
$104,663 $7993966
80
$4,193,153
511,696
361,733 10403 800,046 4,704,849
986,027
1,741,256
2,448,580
172,949 172,949
172,949 5,348,812
361,733 104,663 627,097 (643,963)
691
1,339
64,734
28,489
691
1,339
93,223
690
361,733
10602
627,097
(550,740)
4,328,017
(336,339)
(4,806,745)
(336,339)
(478,728)
690
361,733
10602
290,758
(1,029,468)
25,164
(1,642,768)
211,350
(6,203,566)
56,0225401
$25,854
($15281,035)
$317,352
($5,912,808)
$545992,933
141
CITY OF DUBLIN
INTERNAL SERVICE FUNDS
COMBINING STATEMENTS OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from other funds
Payments to suppliers and service providers
Other revenues
Cash Flows from (used for) Operating Activities
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Contributions from other funds
Payments to other funds
Cash Flows (used for) Noncapital Financing Activities
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Purchase of capital assets
Interest paid on capital lease
Capital lease repayment
Sales of capital assets
Cash Flows from Capital and Related
Financing Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received
Cash Flows from Investing Activities
Net Cash Flows
Cash and investments at beginning of year
Cash and investments at end of year
Reconciliation of operating income (loss) to net cash flows
from operating activities:
Operating income (loss)
Adjustments to reconcile operating income (loss)
to net cash flows from operating activities:
Depreciation
Interest and fiscal charges
Change in assets and liabilities:
Accounts receivable
Prepaid expenses
Accounts payable and accruals
Vehicle
Replacement
$366,427
(588,242)
39,537
Building
Replacement
$178,090
Equipment
Replacement
$631,024
Maintenance
and Repair
$497,036
(365,700)
3,781
(182,278) 178,090 6315024 135,117
(407,272)
28,489
3,988,232 3393785
(4,298,673) (1713733)
(310,441) 1689052
(430009000) (480,124)
(378,783) (4,000,000) (480,124)
14,730 341041 12,418 1,515
14,730 345041 12,418 1,515
(546,331) (4,098,310) 331,370 136,632
3,263,908 8,585,599 2,3211285 212,117
$2,717,577 $4,487,289 $256523655 $348,749
($483,435)
278,167
($1,949,381)
2,114,297
22,990 13,174
$569,339
56,116
5,569
$126,022
(1,168)
10,263
Cash Flows from Operating Activities ($1829278) $1785090 $6315024 $1359117
142
Retiree PERS Park Energy
Health Care Side Fund Replacement Efficiency Total
$1,281,378 $361,733
(1,537,462)
468,298
$104,663
$799,966
(313,686)
80
$4,220,317
(2,805,090)
511,696
212,214 361,733 104,663 4865360 15926,923
691
691
212,905
$212,905
($1)
8,421
203,794
(361,733)
(361,733)
1,339
1,339
4,328,017
(336,339) (5,168,478)
(336,339) (8403461)
(172,949)
(627,018)
(43887,396)
(172,949)
(627,018)
28,489
(7995967) (556585874)
64,734
64,734
1065002 (649,946) (4,507,678)
2115350 1,199,089 153793,348
$317,352 $5495143 $11,285,670
$361,733 $104,663
$627,097 ($643,963)
2,448,580
172,949 172,949
8,421
4,401
(313,686) (63,465)
$212,214 $361,733 $1045663 $4865360 $159265923
143
This Page Left Intentionally Blank
AGENCY FUNDS
Agency Funds are
used to account for assets held by the City in a
fiduciary capacity for
individuals, governmental
entities and others.
These funds carry out the specifications of trust
indentures, ordinance or other regulations.
DUBLIN BOULEVARD EXTENSION ASSESSMENT DISTRICT
To account for the special assessment established to fund the improvements to Dublin Boulevard,
ASSOCIATED COMMUNITY ACTION PROGRAM
This fund was established for the City to act as the fiscal agent to collect and account for the contributions
received from twelve cities in Alameda County and to coordinate administrative service for the closing of the
ACAP, a Joint Powers Agency, in social services related programs serving Alameda County communities.
GEOLOGIC HAZARD ABATEMENT DISTRICTS
Two districts were formed under provisions in the California
section 25670 that a District is a political subdivision of the Sta
local agency. The City acts as a trustee of the funds collected
services paid for by the District. Fiscal Year 2008 -2009 was
levied by the Districts.
Fallon Village Geologic Hazard Abatement District
Public Resource Code, which establishes in
to and is not an agency or instrumentality of a
and may contractually provide or arrange for
the first year that tax roll assessments were
This assessment district was established in 2007, in accordance with a condition of approval for the
Fallon Village development project. The District was formed to provide a mechanism for ongoing
maintenance of open space areas within the development. The boundary of this assessment district
encompasses approximately 175 acres of land, located generally east of Fallon Road.
Schaefer Ranch Geologic Hazardous Abatement District
This assessment district was established in 2006, in accordance with a condition of approval for the
Fallon Village development project. The District was formed to provide a mechanism for ongoing
maintenance of open space areas within the development. The boundary of this assessment district
encompasses approximately 500 acres of land, located at the westerly boundary of the City limits north
of Interstate 580, and south of the unincorporated area of Alameda County.
Fallon Village Annex/Jordan Ranch Geologic Hazard Abatement District
This assessment district was established to account for the maintenance of open space areas within the
Jordan Ranch development. On May 3, 2011 the City Council approved Resolution No. 52-11 which
modified the boundaries of the Fallon Village District. The Jordan Ranch property was annexed into the
Fallon Village Geologic Hazard Abatement District subject to a separate Engineers report.
Fallon Crossing (North Tassajara) Geologic Hazard Abatement District
This assessment district was established to account for the maintenance of open space areas in
accordance with a condition of approval for the Fallon Crossings development project. The boundary of
the District encompasses 68 acres of land located on the northeast side of Tassajara Road, about 2 1/4
miles north of Interstate Highway 580, Tassajara Road and Moller Creek, a tributary of Tassajara Creek,
border the western and northeastern limits of the site.
145
CITY OF DUBLIN
AGENCY FUNDS
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED JUNE 30, 2014
Dublin Boulevard Extension Assessment District
Assets
Cash and investments
Liabilities
Due to bondholders
Associated Community Action Program
Assets
Cash and investments
Accounts receivable
Liabilities
Accounts payable
Due to trustee
Fallon Village
Geologic Hazardous Abatement District
Assets
Cash and investments
Accounts receivable
Liabilities
Accounts Payable
Due to trustee
Balance
$499,322
$1803
Balance
June 30, 2013
Additions
Deductions
June 30, 2014
$7,237
$882
$1
$85118
$7,237
$882
$1
$85118
$7,237
$882
$1
$89118
$73237
$882
$1
$89118
$194,085
$78,794
$115,291
184
184
$1945269
$78,978
$115,291
$15,845
$13,475
$25370
178,424
65,503
112,921
$194,269
$785978
$1155291
$663,203
$499,322
$1803
$1,1449462
19191
5,923
1,191
51923
$664,394
$505,245
$19,254
$1,150,385
$69362 $6,362
658,032 $505,245 12,892 $1,150,385
$664,394 $505,245 $12,892 $15150,385
IEArol
CITY OF DUBLIN
AGENCY FUNDS
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED JUNE 309 2014 (Continued)
Schaefer Ranch Geologic Hazardous Abatement District
Assets
Cash and investments
Accounts receivable
Liabilities
Accounts Payable
Due to trustee
Fallon Village Annex/Jordan Ranch
Geologic Hazardous Abatement District
Assets
Due from trustee
Liabilities
Due to City
Fallon Crossing (North Tassajara)
Geologic Hazardous Abatement District
Assets
Cash and investments
Accounts receivable
Liabilities
Accounts Payable
Due to trustee
Balance
June 30, 2013
$897,207
Additions Deductions
$443,876
1,902
$12,356
Balance
June 30, 2014
$1,328,727
1,902
$897,207 $4453778 $12,356 $1.330,629
$105 $105
$897,207 445,673 $125356 1,330,524
$8975207 $445,778 $125356 $1,330,629
147
','11
$1,800
911 911 K800
$900
$900
$4,665
1,492
M
$1,800
$900 1,800
$51,946
$63157 $51,946
$63157 $51,946
$41 $56,570
1,492
$15533 $565570
$1,533 $565570
$63157 $51,946 $1,533 $563570
CITY OF DUBLIN
AGENCY FUNDS
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FOR THE YEAR ENDED JUNE 309 2013 (Continued)
UM
Balance
Balance
June 30, 2013
Additions
Deductions
June 30, 2014
Totals - All Agency Funds
Assets
Cash and investments
$1,7669397
$996,026
$1095255
$2,6539168
Accounts receivable
2,867
7,825
2,867
7,825
Due from trustee
900
900
19800
$1,7705164
$104,751
$112,122
$2,6625793
Liabilities
Accounts payable
$229207
$105
$199837
$2,475
Due to City
900
900
1,800
Due to trustee
137399820
1,002,864
929284
2,6505400
Due to bondholders
73237
882
1
8,118
$1,770,164
$1,004,751
$1129122
$256625793
UM
STATISTICAL SECTION
This part of the City's Comprehensive Annual Financial Report presents detailed information as a context for
understanding what the information in the financial statements, note disclosures, and required supplementary
information says about the City's overall financial health. In contrast to the financial section, the statistical section
information is not subject to independent audit.
Financial Trends
These schedules contain trend information to help the reader understand how the City's financial performance and
well being have changed over time:
1. Net Position by Component
2. Changes in Net Position
3. Fund Balances of Governmental Funds
4. Changes in Fund Balance of Governmental Funds
Revenue Capacity
These schedules contain information to help the reader assess the City's most significant local revenue source, the
property tax:
1. Assessed Value and Estimated Actuarial of Taxable Property
2. Direct and Overlapping Property Tax Rates
3. Principal Property Taxpayers
4. Property Tax Levies and Collections
Debt Capacity
These schedules present information to help the reader assess the affordability of the City's current levels of
outstanding debt and the City's ability to issue additional debt in the future:
1. Ratio of Outstanding Debt by Type
2. Direct and Overlapping Debt
3. Legal Debt Margin Information
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within
which the City's financial activities take place:
1. Demographic and Economic Statistics
2. Property Value, Construction and Bank Deposits
3. Principal Employers
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the
City's financial report relates to the services the City provides and the activities it performs:
1. Full -Time Equivalent City and Contract Government Employees by Function
2. Operating Indicators by Function
3. Capital Asset Statistics by Function
4. Top 25 Sales Tax Producers
5. Miscellaneous Statistical Data
Sources
Unless otherwise noted, the information in these schedules is derived from the Comprehensive Annual Financial
Reports for the relevant year.
I_' 2
City of Dublin
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
2005 2006 2007 2008 2009
Primary government:
Governmental activities:
Invested in capital assets,
net of related debt $ 383,667,187 $ 387,888,143 $ 399,631,407 $ 411,619,671 $ 423,474,384
Restricted 45,288,468 48,480,463 45,647,928 48,572,719 36,906,687
Unrestricted 52,176,440 57,766,785 61,789,687 68,456,077 661597,197
Total primary government $ 481,132,095 $ 494,135,391 $ 507,069,022 $ 528,648,467 $ 526,978,268
Data Source: City of Dublin Administrative Services Department
Notes: The City of Dublin implemented GASB34 for the fiscal year ended June 30, 2002. Information prior to the implementation of
GASB34 is not available. The significant increase in Capital Assets in Fiscal Year 2004 -2005 is due to a retroactive valuation
recorded for the City's existing infrastructure in accordance with GASB 34.
150
2010 2011 2012 2013
2014
$ 436,857,107
$ 433,779,703
$ 433,548,888
$ 432,722,323
$ 445,529,366
25,004,384
21,453,867
36,7141724
52,548,095
60,808,540
70,203,471
761303,907
86,063,259
99,084,771
97,918,858
$ 532,064,962 $ 531,537,477 $ 556,326,871 $ 584,355,189 $ 604,256,764
151
City of Dublin
Changes in Net Position M
Last Ten Fiscal Years „ ,
(accrual basis of accounting)
le
2005 2006 2007 2008 2009 MI
Expenses:
WO
Governmental activities:
General government $ 3,081,581 $ 4,940,586 $ 8,866,758 $ 7,790,286 $ 8,721,545
IP
Public safety 19,047,262 20,314,535 22,306,240 23,282,634 23,880,635 1
Highways and streets 19,810,590 13,894,865 17,182,208 20,196,496 20,368,655 ila
Health and welfare 1,722,224 1,887,417 1,816,800 1,689,353 1,869,428
Culture and leisure services 8,954,495 10,074,239 14,080,040 12,200,759 11,563,136
Community development 7,210,558 8,553,887 11,157,417 8,276,993 7,175,272
Total governmental activities 59,826,710 59,665,529 75,409,463 73,436,521 73,578,671
Program revenues:
Governmental activities:
Charges for services:
General government 5,198 4,011 208,247 216,334 215,711
Public safety 1,197,925 1,270,233 2,284,955 1,301,328 1,545,935
Highways and streets 2,451,377 2,167,740 745,727 13,794 598,542
Health and welfare 1,541,361 2,092,566 2,483,619 3,301,877 3,050,719
Culture and leisure services 1,617,013 1,751,965 1,508,752 1,722,627 1,719,501
Community development 6,969,366 6,629,383 9,432,854 5,599,417 4,720,221
Operating grants and contributions 169,906 238,053 2,813,079 2,747,497 2,245,945
Capital grants and contributions 42,585,906 18,900,426 25,973,730 37,393,930 14,599,068
Total governmental activities 56,538,052 33,054,377 45,450,963 52,296,804 28,695,642
Net revenues(expenses): $(3,288,658) $ (26,611,152) $(29,958,500) $ (21,139,717) $(44,883,029)
General revenues and other changes in net assets:
Governmental activities:
Taxes:
Property taxes 14,167,079 16,891,670 20,266,216 22,229,039 23,311,587
Sales tax 14,152,987 14,363,863 14,025,869 14,225,661 12,832,417
Other taxes 3,181,939 3,343,943 3,508,587 3,504,501 2,180,846
Motor vehide tax,unrestricted 413,075 856,766 261,276 197,245 160,242
Investment income,unrestricted 2,704,647 2,505,911 4,053,187 4,399,908 4,266,601
Other general revenues 199,233 280,386 1,109,734 1,202,074 461,137
Total governmental activities 34,818,960 38,242,539 43,224,869 45,758,428 43,212,830
Changes in net assets $31,530,302 $ 11,631,387 $ 13,266,369 $ 24,618,711 $ (1,670,199)
Data Source:City of Dublin Administrative Services Department
I
Notes: The City of Dublin implemented GASB34 for the fiscal year ended June 30,2002. Information prior to the implementation of
I
GASB34 is not available.
I
I
P
f
152 1 1
2010 2011 2012 2013 2014
$ 81396,199
$ 91322,322
$ 10,1161219
$10,265,476
$ 17,665,221
23,797,696
24,413,496
26,781,283
26,846,045
27,770,111
15,969,371
101142,946
6,7091217
71241,263
4,3051390
31615,077
12,749,042
146,204
31753,875
41057,796
10,757,355
91304,429
91804,128
10,772,868
9,0181161
5,1121469
51482,552
61089,415
91979,877
9,169,788
67,6487167
71,414,787
59,646,466
68,859,404
71,986,467
219,386
225,109
14Q418
142,353
153,544
11600,890
1,821,404
11061,352
21482,060
21164,085
81078,369
450,937
738,662
470,063
484,801
2,798,092
2,8741952
31063,223
31422,782
3,631,344
2,101,867
21214,407
1,909,812
2,463,146
2,753,911
31775,102
51546,417
91051,970
91540,241
1Q393,367
2,229,043
2,220,247
1,008,318
1,135,050
1,674,815
12,254,443
15,745,614
23,668,070
28,689,753
20,914,994
33,057,192
31,099,087
40,641,825
48,345,448
42,170,861
$(34,590,975) $ (40,315,700) $ (19,004,641) $(20513,956) $ (29,815,606)
22,287,783
21,918,484
22,246,360
23,590,102
25,286,308
12,183,267
12,969,119
14,9961932
15,359,340
171833,314
31201,219
3,798,515
4,295,675
51054,257
51427,627
141,221
250,974
758,016
536,047
865,719
(399,590)
853,147
11106,163
11079,419
11389,349
41938,165
316,785
39,677,669
40,552,558
43,794,035
48,542,274
49,717,181
$ 51086,694 $ 236,858 $ 24,789,394 $ 28,028,318 $ 19,901,575
153
City of Dublin
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Total general fund $ 80,456,475 $ 50,8961877 $ 58,299,753 $ 63,4121309 $ 62,123,358
All Other Governmental Funds
Reserved
2005
2006
2007
2008
2009
General Fund
Reserved
$ 21275,433
$ 2,0801678
$ 51741,942
$ 51623,014
$ 51343,610
Unreserved, designated for:
Advance to TVTD W. BART station contribution
-
-
-
-
-
Affordable Housing
11000,000
1,0001000
11000,000
11000,000
1,0001000
Authorized expenditures
321971,221
38,860,039
44,328,550
42,181,292
341474,209
Capital improvements
41,2391100
5,985,440
41258,539
81884,334
11,049,175
Cash Flow & Operation Stability
-
-
-
-
-
Catastrophic Loss & Business Recovery
-
-
-
-
-
Capital Improvements Projects Carryover
-
-
-
-
-
Compensated Absences
-
-
-
744,041
791,582
Economic Uncertainty
21970,721
2,970,720
21970,722
2,970,722
51868,847
Emergency Communication System
-
-
-
-
210,000
Fire Retiree Medical
-
-
-
500,000
750,000
Innovation & New Opportunities
-
-
-
-
-
Investment Market Value Adjustment
-
-
-
1,5081906
21334,061
Operation Carryover
-
-
-
-
301,874
Service Continuity Obligation
-
-
-
-
-
Unreserved, undesignated
-
-
-
-
-
Non - Spendable
-
-
-
-
-
Restricted
-
-
-
-
-
Committed
-
-
-
-
-
Assigned
-
-
-
-
-
Unassigned
-
-
-
-
-
Total general fund $ 80,456,475 $ 50,8961877 $ 58,299,753 $ 63,4121309 $ 62,123,358
All Other Governmental Funds
Reserved
$ 44,948,468 $
481140,467
$ 43,485,046
$ 50,7897419
$ 34,570,414
Unreserved, designated, reported in:
Special revenue funds
Capital projects funds
Undesignated
(21202,289)
(11893,598)
(11791,762)
(1,837,021)
(1,8411336)
Non - Spendable
-
-
-
-
-
Restricted
-
-
-
-
-
Committed
-
-
-
-
-
Assigned
-
-
-
-
-
Unassigned
-
-
-
-
-
Total all other governmental funds
$ 42,7461179 $
4612461869
$ 41,6931284
$ 4819521398
$ 32,729,078
Total All Governmental Funds $123,2021654 $ 97,143,746 $ 99,993,037 $ 112,364,707 $ 94,852,436
Data Source: City of Dublin Administrative Services Department
Note: All Other Governmental Funds includes the City's Major and Non Major Capital Project and Special Revenue Funds,
excluding the General Fund.
In FY2011 the City implemented GASB No. 54 - the new Fund Balance Reporting and Governmental Fund Type Definitions.
This Statement establishes the definitions for new categories for reporting fund balance and revises the definitions for
governmental fund types. As a result five new components of fund balance were established:
Non - Spendable, Restricted, Committed, Assigned, and Unassigned. Prior to FY2011, the Fund Balances were reported as Reserved
and Unreserved Fund Balances. Post FY2010, the Reserved Fund Balances were further categorized as Non - Spendable, Restricted and
Committed and the Unreserved Fund Balances were classified as Assigned and Unassigned.
IGY!
1
I
I
I2010 2011 2012 2013 2014
$ 5,922,446 $ - $ - $ - $ -
1,000,000 - - -
-
-
1,000,000
- -
3,960 - - - -
7,394,088 - - - -
' 8,860,000 - -
-
8,420,000
- -
203,507 - - - -
I
802,311 - - --
5,868,847
1,000,000
- -
4,500,000 - - - -
13,000,000 - - - -- - - -
1,516,569
-
-
-
171,100
1,350,000 - - - -
I - 4,096,768 3,433,886 2836,130 2,465,678
- - - 500,000 500,000
- 27,893,755 24,176,650 36,020,171 34,124,267
17,407,053 22,080,677 23,912 896 29,259,333
- 14,745,685 15,072,535 14,047,932 13,228,484
I $ 61,012,828 $ 64,143,261 $ 64,763,748 $ 77,317,129 $ 79,577,762
1 $ 25,004,384 $ - $ - $ - $ -
I (3,168,929) - - - -
- 21,453,867 38,073,638 53,646,702 61,710,448
I
- (1,735,988) (1,358,914) (1,098,607) (923,409)
$ 21,835,455 $ 19,717,879 $ 36,714,724 $ 52,548,095 $ 60,787,039
$ 82,848,283 $ 83,861,140 $101,478,472 $129,865,224 $ 140,364,801
1
I
I
I 155
City of Dublin
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
Revenues:
Property taxes
Taxes other than property
Intergovernmental
licenses and permits
Charges for services
Investment income
Use of property
Fines and forfeitures
Developer fees
Special assessments
Other revenues
Total revenues
Expenditures
Current:
General government
Public safety
Highways and streets
Health and welfare
Culture and leisure services
Community development
Capital outlay:
General
Health and welfare
Community improvements
Culture and leisure
Parks
Streets
Debt service:
Principal
Total expenditures
2005
2006
2007
2008
2009
$14,167,079
16,891,670
20,266,213
22,229,039
23,306,302
17,572,000
18,014,431
17,967,499
18,1881593
15,436,466
3,312,079
21593,336
21845,936
31431,314
21393,153
3,520,141
31142,223
21572,069
1,784,644
1,623,029
6,623,303
7,090,105
91476,984
81101,935
7,759,628
21948,612
21859,433
51840,949
61101,736
51597,303
125,835
123,154
203,240
335,151
989,081
292,658
340,336
342,098
360,496
318,737
14,361,337
17,018,274
8,618,271
18,226,041
11875,841
744,100
645,230
716,144
797,520
826,717
954,949
826,715
960,534
2,497,249
31312,774
64,622,093
69,544,907
69,809,937
82,053,718
63,439,031
6,535,408
41983,006
51619,088
5,590,247
6,047,115
19,163,929
20, 542, 375
22 ,148,312
23,629,954
23,951,223
21272,310
2,536,127
21726,599
2,7191532
3,1681513
11734,787
11906,950
11626,197
11706,918
11888,631
5,377,134
5,948,563
6,874,596
71207,896
71621,663
7,4041619
81199,933
81173,711
81335,105
71364,651
11250,772
666,160
377,026
411,293
4,221,956
-
-
75,526
-
-
462,751
838,618
95,672
218,058
68,236
91237,426
10,1891487
101711,807
81820,229
91409,692
21828,616
7,1021450
5,532,110
111042,816
13,742,919
56,267,752
62,913,669
63,960,644
69,682,048
77,484,599
Excess (deficiency of revenues over (under)
expenditures 81354,341
Other financing sources (uses):
Transfers in
Transfers out
Total other financing
sources (uses)
Net change in fund balances
Debt service as a percentage of
noncapital expenditures
1,336,275
(1,336,275)
61631,238 5,849,293 12,371,670
21,789 90,399 77,528
(21,789) (90,399) (77,528)
$ 8,354,341 $ 6,631,238 $ 51849,293
0.0% 0.0%
Data Source: City of Dublin Administrative Services Department
Total expenditures
56,267,752 62,913,669
156
0.0%
63,960,644
$ 12,371,670
0.0%
69,682,048
(14,045,568)
26,232
(26,232)
$ (14,045,568)
0.0%
77,484,599
2010
2011
2012
2013
2014
22, 286, 209
22, 067, 074
22 ,398,847
23,742,336
25,448,254
15,783,099
17,210,947
19,761,015
20,915,025
23,769,133
71951,237
31946,271
31962,572
4,534,748
21574,159
2,2601364
21752,748
41501,736
5,224,932
51944,985
71100,403
81743,460
10,331,501
11,979,079
12,326,848
11475,308
952,819
11068,138
(185,467)
1,101,634
1,491,413
978,642
659,857
580,507
1,591,784
312,778
303,595
284,993
326,027
323,601
41387,339
9,390,001
15,965,329
19,545,692
15,757,068
868,348
904,739
944,455
980,775
1,025,239
11778,477
4,135,091
41509,762
91134,201
21712,998
65,694,975
71,385,387
841388,205
96,777,855
92,575,703
8,957,744
71935,407
71001,850
71600,102
81411,507
24,241,160
24,546,456
26,298,962
26,643,549
27,381,497
2,985,311
31030,540
21768,068
31096,498
3,042,476
3,653,297
12,775536
41422,468
4,149,599
4,379,634
7,267,805
71223,808
8,248,229
81919,816
91349,729
51300,211
51609,603
7,362,732
81586,129
91102,734
742,754
599,965
61641,674
81866,096
13,316,472
82,333
328,418
213,777
81,234
21,497
-
-
996,669
21324,586
9,451,657
10,706,350
31809,723
-
-
-
13,762,167
41513,072
2,959,555
41946,527
2,4031926
77,699,132 70,3721528 66,913,984 75,214,136
(12,004,157) 11012,859 17,474,221 21,5631719
25,777,410
91163,360
10,898,009
161338,838
(25,777,410)
(91163,360)
(10,754,898)
(91515,805)
86,861,129
5,714,574
25,192,268
(20,3851523)
143,111 61823,033 41806,745
$ (12,004,157) $ 11012,859 $17,617,332 $28,386,752 $ 101521,319
0.0% 0.0% 0.0% 0.0%
0.0%
77,699,132 70,372,528 66,913,984 75,214,136 86,861,129
157
This Page Left Intentionally Blank
CITY OF DUBLIN, CALIFORNIA
Assessed Value of Taxable Property
Last Ten Fiscal Years
(Dollars in Thousands)
Fiscal
Year Real Property
Ended Residential Commercial Industrial Unsecured/ Less:
June 30 Property Property Property Other Property Exemptions
Total Taxable
Assessed
Value
City Wide Avg.
Total Direct Tax Rate
2005
$3,730,424,115
$1,032,5525391
$154,758,385
$662,659,500
($72,612,237)
$5,507,782,154
0.2397%
2006
4252052225157
12052,701,438
162,1823398
65232792788
(77,0855570)
6,310,3002211
0.2390%
2007
52345,9375692
1,068,813,294
161,909,866
873,737,282
(80,274,178)
7337031232956
0.2387%
2008
5287095265565
12112,8373055
171,673,012
1,072,7342321
(78,1882899)
8,149,582,054
0.2385%
2009
6,203,330,781
1,241,301,664
1981082,746
1,032,449,487
(36,478,516)
8,638,686,162
0.2385%
2010
5286854885395
11326,4813267
212,939,326
983,4261713
(4928732361)
8,341,462,340
0.2386%
2011
51967,980,343
1,285,382,821
209,573,141
84306,092
(115,875,189)
8,1909747,208
0.2386%
2012
6,114,540,497
1,263,2071583
246,434,460
859,683,607
- 12022253737
8,363,640,410
0.2386%
2013
61378,930,469
1,330,1475064
245,481,519
948,5252966
- 112,296,063
8,79057882955
0.2380%
2014
721359260,308
1,336,760,537
246,334,563
15035,9902618
- 11120673996
9,643,278,030
0.2373%
Source: HDL Coren & Cone and Alameda County Assessor Combined Tax Rolls, 2004 /05 through 2013/14
Note: Actual property value data not available in California.
(1) California cities do not set their own direct tax rate. The state constitution establishes the rate at 1% and allocates a portion
of that amount by an annual calculation, to all the taxing entities within a tax rate area.
(2) The City -wide Direct Tax Rate is an average, the actual tax rate for each property varies according to its tax rate area. This average tax
rate is net of State Shifts of local property tax revenue to Educaiton and net of Admin fees.
159
Fiscal
Year
2004 -05
2005 -06
2006 -07
2007 -08
2008 -09
2009 -10
2010 -11
2011 -12
2012 -13
2013 -14
Source
CITY OF DUBLIN, CALIFORNIA
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(Rate per $100 of assessed value)
City Direct Rates
Overlapping
Rates
(1)
Castro Valley
Chabot -Las Positas Dublin
Basic Total
Bay Area
Unified
Community Unified
Levy Direct
Rapid Tansit
School Bonds
College Boards Bonds IA & B
1.00000
1.00000
1.00000
0.23970
0.23900
0.23870
f �IIIIIIIII =II�G�YiYI
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
0.23850
0.23860
0.23860
0.23860
0.23796
0.23730
0.00000
0.00480
0.00500
0.00760
0.00900
0.00570
0.00310
0.00410
0.00430
0.00750
0.05320
0.07180
0.08110
0.09720
0.09690
0.10230
0.10040
0.09890
0.09240
0.08510
0.01860
0.01580
0.01590
0.01640
0.01830
0.01950
0.02110
0.02140
0.02190
0.02140
0.03990
0.08170
0.08850
0.08500
0.07320
0.08160
0.10110
0.09700
0.09930
0.11470
HDL Coren & Cone and Alameda County Assessor Combined Tax Rolls, 2004/05 through 2013/14
(1) Overlapping rates are those of local and county governments that apply to property owners within the City.
Not all overlapping rates apply to all city property owners. These are voter approved levies in addition to
the 1% State levy.
(2) The City's share of the 1% Levy is based on the City's share of the general fund tax rate area with the largest
net taxable value within the City.
160
East Bay
Flood Zone 7
Livermore Valley
Total
City's Share
Regional
State Water
Joint Unified
Direct & Overlapping
of 1% Levy per
Park
Bonds
School Board
Tax Rate
Proposition 13
0.00570
0.01140
0.07930
1.20810
0.2818
0.00570
0.01300
0.08300
1.27580
0.2818
0.00850
0.01510
0.06920
1.28330
0.2818
0.00800
0.01500
0.06260
1.29180
0.2818
0.01000
0.01690
0.06160
1.28590
0.2818
0.01080
0.02030
0.06740
1.30760
0.2818
0.00840
0.02500
0.06350
1.32260
0.2818
0.00710
0.03070
0.06270
1.32190
0.2818
0.00510
0.02280
0.06070
1.30650
0.2818
0.00780
0.02570
0.05960
1.32180
0.2818
161
Taxpayer
Turst NOIP Dublin LP
4800 Tassajara Road Apartments Investors
Dublin Station Owner, LLC
Bere Island Properties I, LLC
Tishman Speyer Archstone Smith Emerald
BIT Holdings Sixty - Three, Inc
KB Home South Bay, Inc
Dublin Corporate Center
Kaiser Foundation Hospitals
Ross Dress for Less, Inc.
Toll California II / Toll Dublin LLC
Shops at Waterford LLC
BIT Holdings Fixty Six Inc.
Acre Dublin LLC
Chang S. Lin, Et Al.
Bere Island Properties I LLC Et. Al.
Bit Investment Eleven Limited Partnership
Capital Pacific Security Trust
Cisco Systems Inc.
Wells Reit II - Emerald Point
Subtotal
CITY OF DUBLIN, CALIFORNIA
Principal Property Tax Payers
Current year and Nine Years Ago
(Dollars in thousands)
$ 871,164,717
Source: HDL Coren & Cone and Alameda County Assessor Comined Tax Rolls
162
2004 -05
Percentage
of Total City
Taxable Taxable
Assessed Assessed
Value Rank Value
165,032,205
2013 -14
2.96%
117,592,744
Percentage
2.11%
of Total City
Taxable
2.05%
Taxable
Assessed
5
Assessed
Value
Rank
Value
$ 15231085352
1
1.61%
113,981,488
2
1.21%
8836405918
3
0.94%
87,1965783
4
0.92%
81,24504
5
0.86%
74,641,655
6
0.79%
73,9553233
7
0.78%
7250005000
8
0.76%
655811,994
9
0.70%
61,5825600
10
0.65%
$ 871,164,717
Source: HDL Coren & Cone and Alameda County Assessor Comined Tax Rolls
162
2004 -05
Percentage
of Total City
Taxable Taxable
Assessed Assessed
Value Rank Value
165,032,205
1
2.96%
117,592,744
2
2.11%
11454925789
3
2.05%
105,376,216
5
1.89%
995325,001
6
1.78%
76,351,399
7
1.37%
6456509000
9
1.16%
63,2235524
10
1.13%
565069,435
1.00%
49,3879612
0.89%
9.22% 91155005925
16.34%
CITY OF DUBLIN, CALIFORNIA
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal
Year
Total Taxable
Collections within
Fiscal Year of Levy:
Ended
Assessed
Total
Gross
Less Prior Year
Less
Net
Percent
June 30
Value
Tax rate
Tax Levy (1)
Collections (2)
and Penalties
In -Lieu
Collection (3)
of Levy
2005
$5,5075782,154
0.2397
$13,202,154
$14,054,547
($298,320)
($252785846)
$11,477,381
87%
2006
6,3105300,211
0.2390
15,081,618
163775,906
(3783910)
(25599,432)
13,797,564
91%
2007
7,370,123,956
0.2387
17,592,486
21,199,390
(368,414)
(350343577)
17,7965399
101%
2008
81149,582,054
0.2385
19,436,753
233229,544
(619,886)
(353529904)
19,256,754
99%
2009
8,638,686,162
0.2385
2003,266
24,388,892
(1,0505294)
(355245237)
19,814,361
96%
2010
8,341,462,340
0.2386
19,902,729
23517,751
(1,073,440)
(334015946)
19,042,366
96%
2011
8,190,747,208
0.2386
19,5437123
23,503540
(729,274)
(33340,371)
19,4333895
99%
2012
8,363,640,410
0.2386
19,955,646
23,805,376
(571,013)
(33410,185)
19,824,178
99%
2013
8,790,788,955
0.2380
20,918561
25,420,484
(598,163)
(33584,445)
21,237,877
102%
2014
9,643,278,030
0.2373
22,883,947
27,459,463
(511,177)
(3,932,136)
23,016,150
101%
Source: Alameda County Office of the Auditor - Controller, HDL Coren & Cone, and City of Dublin Administrative Services Department
(1) Total Taxable Assessed Value at Citywide Average Total Direct Tax Rate: this is the levy after the ERAF deduction
(2) Gross Collection includes Secured, Unsecured, Unitary /Supplemental, Penalties, and In -Lieu Property Tax
(3) Net Collection removes Prior Year Collections, Penalties, and In -Lieu Property Taxes
163
CITY OF DUBLIN. CALIFORNIA
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal
Year
Ended
June 30
Governmental Activities Business -Type
Notes, Capital
General Certificates Lease and Total
Obligation of Mortgage Governmental
Bonds ?articipatioi Payable Activities Bonds
Activities
Total
Primary
Other Governments
Percentage
of Personal
income
Debt
Per
Capita
2005
2006
2007
2008
2009
2010
2011
2012
2013
$69755,824
$6,755,824
$6,7555824
$156
2014
69128,806
6,128,806
691285806
N/A
Sources: (1) United States Census Bureau, most recent data available November 2014. Personal Income at June 30, 2014 not available.
(2) City of Dublin Administrative Services Department.
I.�
CITY OF DUBLIN
Direct and Overlapping Debt
June 30, 2014
Total Property Tax Assessed Value of Taxable Property
DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT:
Bay Area Rapid Transit District
Chabot -Las Positas Community College District
Dublin Joint Unified School District
East Bay Regional Park District
City of Dublin 1915 Act Bonds
California Statewide Communities Development Authority 1915 Act Bonds
• • 1: • VIII:. •Z•1i103K111U2Q •111FAM .i.LW.Ycf*&Wj,5jIQIIs0);I:b
OVERLAPPING OTHER DEBT
Alameda County General Fund Obligations
Alameda County Pension Obligations
Alameda- Contra Costa Transit District Certificates of Participation
TOTAL OVERLAPPING GENERAL FUND DEBT
COMBINED TOTAL DEBT (2)
RATIOS TO ASSESSED VALUATION:
DirectDebt ........... ............................... ..........................0.00%
Total Direct and Overlapping Tax and Assessment Debt......... 3.14%
Combined Total Debt ............................. ..........................3.61%
Source: California Municipal Statistics, Inc.
$ 9,643,278,030
Percentage
Outstanding Debt Applicable to Estimated Share of
6/30/2014 City of Dublin Overlapping Debt
$ 648,275,000
1.8350% $
1105,846
432,3373431
10.543%
45,5813335
238,7781143
99.977%
238,723,224
202,2101000
2.805%
5,671,991
100.0%
1,015,935
100.0%
1,015,935
302,888,331
893,799,500 4.635% 41,427,607
87,787,424 4.635% 43068,947
28,155,000 0.126% 355475
45,532,029
348,420,360
Notes:
(1) The percentage of overlapping debt applicable to the City is estimated using taxable assessed property value. Applicable percentages were
estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's
total taxable assessed value.
(2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non - bonded capital lease obligations.
165
Debt limit
Total net debt applicable to limit
Legal debt margin
Total net debt applicable to the limit
as a percentage of debt limit
My Walla DIU a iwwm eniwIaxN►1 /_1
Legal Debt Margin Information
Last Ten Fiscal Years
(Dollars in Thousands)
Fiscal Year
2004 -05 2005 -06 2006 -07 2007 -08
$ 209,264,790 $ 2393526,967 $ 2799389,930
$ 2091264,790 $ 239,526,967 $ 27993895930
0.0%
(1) Source: City of Dublin Administrative Services Department
0.0%
0.0%
$ 308,541,411
$ 308,541,411
(2) The
legal debt margin
for the
City of Dublin,
California,
is calculated using a debt limit of 15 percent of the
assessed
value of property
within
the City limits.
(Gov Code
of State of California)
(3) The government code provision was enacted when assessed valuation was based upon 25% of market
value. Effective with the 1981 -82 fiscal year, each parcel in now assessed at 100% of market value (as of the
most recent change in ownership parcel). in ownership for that parcel). The computations shown above
reflect a conversion of assessed valuation data for each fiscal year from the current full valuation perspective
to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California
for local governments located within the state.
.:
0.0%
2008 -09
$ 325,3185675
Legal Debt Margin Calculation for Fiscal Year 2013 -14
Assessed value (net) - June 30, 2014 (1)
Debt limit: 15% of assessed value
Less total bonded debt, general obligation
Legal debt margin (2)
Conversion Percentage for Calculation of Debt Limit (3)
$ 95643,2783030
1,44634913705
$ 1,446,491,705
25%
$ 3619622,926
Fiscal Year
2009 -10 2010 -11 2011 -2012 2012 -13 2013 -14
$ 314,675,089 $ 311,498,340 $ 3183144,981 $ 333,8653688 $ 361,622,926
$ 3253318,675 $ 314,675,089 $ 311,4987340 $ 318,144,981 $ 333,865,688 $ 361,622,926
0.0%
0.0%
0.0%
167
0.0%
,1 1 '
0.0%
CITY OF DUBLIN, CALIFORNIA
Demographic And Economic Statistics
Last Ten Calendar Years
(Dollars in Thousands)
2004
Per Capita
$ 1,3195087
Rank in Size
Fiscal City Personal
Personal
Unemployment
of
Year Population (1) Income, in thousands (1)
Income (1)
Rate (2)
California Cities (1)
2004
38,263
$ 1,3195087
$ 34,474
3.5%
193
2005
39,774
154775082
37,137
3.1%
192
2006
413848
157199669
41,093
2.6%
190
2007
43,563
1,904,687
43,723
2.8%
184
2008
46,869
2,0775720
441330
3.7%
180
2009
47,953
2,0343463
421426
6.5%
179
2010
45,672
19700,094
34,823
6.9%
179
2011
465785
1,6775944
351865
6.3%
182
2012
49,890
158199688
361474
4.2%
175
2013
53,462
253213908
43,431
3.5%
181
Sources: (1) United States Census Bureau, most recent data available November 2014
(2) Bureau of Labor Statistics - Unemployement Rate as of June 30, 2014
•M
Fiscal Year Ended
30-Jun
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
CITY OF DUBLIN, CALIFORNIA
Property Value, Construction, and Bank Deposits
Last Ten Fiscal Years
Total Number of Commercial Residential
Building Permits Construction Value Construction Value
Issued (1) (1) (1)
1275 $
563481,612 $
283,8171542
1199
96,389,754
2071862,999
1214
561832,941
1783094,884
1333
18,256,381
59,647,886
1101
23,968,805
63,2421418
1345
17,4079699
124,9305163
1471
40,0051124
1655324,045
2110
285775,536
344,927,791
2425
215139,964
3861984,935
2443
57,8125261
32215113777
Bank Deposits (2)
$ 566,4415000
9155006,000
Source: 1) City of Dublin Community Development Department
2) Findley Reports, Inc Bank Deposits represents the amount of cash deposits held by financial
institutions within the city annually, Jan thru Dec.
169
985,8355000
981168500
1,094,8693000
1,0513570,000
1,28111833000
N/A
N/A
N/A
This Page Left Intentionally Blank
CITY OF DUBLIN, CALIFORNIA
Principal Employers
Current Year and Prior Year
(Dollars in thousands)
2013
Estimated
Number of
Employer Employees
United States Government
& Federal Correction Institute 25100
Ross Stores Headquarters N/A
Zeiss Meditec 535
SAP (Formerly: Sybase Corporation) 604
Dublin Unified School District 755
Micro Dental Laboratories 242
County of Alameda 465
Safeway 284
Taleo N/A
City of Dublin 208
Franklin Templeton Investments 200
Target Stores N/A
Subtotal 5,393
Total City Day Population
Source: City of Dublin Economic Development Department
171
2014
Estimated
Number of
Rank Employees Rank
1
2,100
1
N/A
15200
2
4
535
5
3
604
4
2
733
3
8
242
8
5
465
6
7
284
9
N/A
N/A
N/A
9
221
10
10
N/A
N/A
N/A
412
7
6,796
CITY OF DUBLIN CALIFORNIA
Full -Time Equivalent City and Contract Government Employees by Function
Last Ten Fiscal Years
Public Safety
Police 54.00 57.00 59.00 61.00
Fire 40.89 40.25 40.25 40.75
Disaster Preparedness 0.33 0.33 0.33 0.50
Transportation
Public Works 6.50 6.50 7.50 8.50
Streets Maintenance 9.46 10.14 10.57 10.73
Health and welfare
Environmental
Housing
Adopted
for Fiscal
Year Ended June
30,
1.75
2005
2006
2007
2008
Function
0.33
2.00
2.00
2.00
General government
0.51
0.51
0.48
0.45
City Manager
6.00
7.17
6.25
6.50
Administrative Services
11.50
11.50
11.50
12.00
Central Services &
Building Management
3.40
3.43
3.75
3.51
Public Safety
Police 54.00 57.00 59.00 61.00
Fire 40.89 40.25 40.25 40.75
Disaster Preparedness 0.33 0.33 0.33 0.50
Transportation
Public Works 6.50 6.50 7.50 8.50
Streets Maintenance 9.46 10.14 10.57 10.73
Health and welfare
Environmental
Housing
1.75
14.00
1.75
1.75
1.75
Waste Management
0.33
9.53
0.33
0.33
0.33
Culture and leisure services
Parks Community Services
14.00
14.00
14.00
15.50
Park Maintenance
8.70
9.10
9.53
9.55
Parks/ Facilities Management
2.00
2.00
2.00
2.00
Library Services
0.51
0.51
0.48
0.45
Heritage & Cultural Arts
2.31
2.30
2.32
2.53
Community Development
Planning & Building
32.00
34.50
33.90
32.50
Economic Development
1.00
1.00
1.00
1.00
Engineering
13.35
13.35
13.35
13.35
Total
208.03
215.16
217.81
222.45
Source: City of Dublin Administrative Services Department
Note: Include Full Time, Part Time, Temporary, and Contract Employees
172
for Fiscal Year Ended June
6.50
6.00
6.00
6.50
6.50
6.50
12.00
11.50
11.50
11.50
11.50
11.75
3.52
3.18
3.32
3.57
3.09
3.45
61.00
61.00
59.00
59.00
59.00
60.00
40.78
39.77
39.74
39.64
39.64
39.64
0.50
0.50
0.46
0.46
0.59
0.59
8.50
6.45
5.45
5.45
5.45
5.48
9.93
9.18
9.85
9.85
10.08
10.32
2.50
2.50
3.00
2.59
2.59
2.90
3.20
3.00
2.25
2.25
2.50
1.33
0.33
0.33
0.33
1.08
1.08
16.00
16.60
15.60
15.55
16.25
15.50
9.92
9.65
8.94
9.36
10.10
11.65
2.00
2.00
2.00
2.25
2.25
3.45
0.43
0.39
0.42
0.42
0.37
0.37
2.49
2.47
3.59
3.26
3.70
5.92
27.10
19.05
19.25
20.95
22.45
23.45
1.50
1.50
1.50
2.50
2.50
3.50
12.35
9.00
8.00
9.00
9.00
9.00
218.75
204.27
200.45
204.84
208.39
216.74
173
CITY OF DUBLIN CALIFORNIA
Operating Indicators by Function/Program
Last Ten Fiscal Years
Fire:
Emergency calls
1,742
Fiscal
Year
1,978
Function/Program
2005
2006
2007
2008
Police:
858
15006
1,049
922
Calls for Service
48,388
465197
41,306
41,652
Citations Issued
10,911
105595
11,676
11,768
Arrests
1,631
2,020
1,668
2,021
Fire:
Emergency calls
1,742
15771
13780
1,978
Inspections
35249
45122
4,048
2,213
Building Plan Reviews and Consultations
858
15006
1,049
922
Public Works:
Bike Path Maintenance (hours)
783
726
810
775
Street Sign Maintenance (number of signs)
353
435
427
135
Curb Painting (linear feet)
1,404
3,991
45006
2,468
Replace Street Asphalt (square feet)
7,500
7,950
13,800
33,000
Street Sweeping (curb miles)
506
5,730
5,927
6,075
Parks and Community Services:
Museum Visistors
800
13350
2,140
2,225
Afterschool Recreation (participants /day)
129
138
153
180
Preschool Classes Participants
224
285
254
399
Youth Basketball League Participants
547
580
588
570
Senior Center Average Daily Attendance
110
149
180
185
Community Development:
Planning Applications
73
59
55
55
Building Permits
1,837
1,855
1,910
1,333
Building Inspections
339534
34,244
36,071
25,602
Source: City of Dublin
174
Fiscal Year
2009
2010
2011
2012
2013
2014
383983
381125
39,474
385580
345966
345567
75086
10,101
93023
93229
83699
8,530
15620
11556
1,624
1,542
13419
1,934
15969
11999
2,244
25323
25688
2,859
1,952
3,576
2,833
33308
33538
3,664
511
474
498
1,319
15492
1,561
775
697
603
625
668
749
74
325
258
313
205
426
25395
6,607
5,464
6,523
6,400
55808
29,000
30,000
57,000
26,000
375000
18,112
6,341
51083
55294
5,519
5,901
5,931
25040
35530
35680
4,415
8,612
85256
167
176
240
27
228
322
402
690
628
610
571
430
591
772
710
729
812
911
190
198
206
217
211
220
64
62
66
62
77
59
1,101
1,345
1,471
21110
25425
2,443
121302
83933
11,308
15,961
26,045
223345
175
CITY OF DUBLIN, CALIFORNIA
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
Function/Program
Public safety:
Police stations
Fire stations
Public works:
Street Lights
Miles of Streets
Miles of curbs
Traffic Signals
City Street Trees
City Landscape (acres)
Parks and recreation:
Number of Community Facilities
Number of City Parks
Acres of City Parks
Acres of Open Space
Fiscal Year
2005 2006 2007 2008
1
1
1
1
3
3
3
3
3,469
35752
35972
45193
81
81
104
93
202
202
217
217
62
67
75
79
55955
6,084
61084
604
43
45
45
45
7
7
7
7
11
11
11
16
109
109
109
122
122
126
126
122
Source: City of Dublin
*The Street Lights count for FY2011 is the same as reported in FY2010. Comparable data is not
available at the time the report is prepared.
176
2009 2010
1
1
3
3
4,479
4,526
103
105
218
222
81
85
6,499
75054
45
57
Fiscal Year
2011 2012 2013 2014
1
1
1
1
3
3
3
3
31780
4,281
45354
45513
113
115
116
120
223
237
242
248
85
89
91
93
75418
75268
7,408
71477
57
65
67
69
7
7
7
7
7
7
16
16
18
18
18
20
201
201
209
209
209
220
125
125
125
125
125
125
177
CITY OF DUBLIN, CALIFORNIA
Top 25 Sales Tax Producers
2013 -2014
Business Name
Alcosta Shell
Arco AM PM Mini Mart
Bed Bath & Beyond
Best Buy
Calpine Operating Services
Carl Zeiss Opthalmic Systems
Dicks Sporting Goods
Dublin Buick /Cadillac /Chevrolet/GMC/KIA
Dublin Honda
Dublin Hyundai
Dublin Mazda
Dublin Nissan
Dublin Toyota
Dublin Volkswagen
Epicor Software
Graybar Electric
Lowes
Safeway
Safeway Gas
Shell Service
Sky River RV
Stoneridge Chrysler /Jeep/Dodge
Target
TJ Maxx
Toys R Us
Business Category
Service Stations
Service Stations
Home Furnishings
Electronics /Appliance Stores
Power Producers
Medical/Biotech
Specialty Stores
Motor Vehicle Dealer
Motor Vehicle Dealer
Motor Vehicle Dealer
Motor Vehicle Dealer
Motor Vehicle Dealer
Motor Vehicle Dealer
Motor Vehicle Dealer
Office Supplies/Furniture
Electrical Equipment
Lumber/Building Materials
Grocery/Liquor Store
Service Stations
Service Stations
Trailers/RVs
Motor Vehicle Dealer
Discount Department Store
Family Apparel
Specialty Stores
Source: Hinderliter, de Llamas & Associates, State Board of Equalization
178
CITY OF DUBLIN, CALIFORNIA
Miscellaneous Statistical Data
June 30, 2014
General
Date of Incorporation February 1, 1982
Form of Government Council/ Manager
Total Population (Estimated per the California Department of Finance, 2013) 49,890
Number of Registered Voters 208.39
Employees, City, and Contract (Full Time Equivalent) 216.74
Area (Square Miles) 14.62
Parks and Recreation
Parks 20
Acres in Parks 220
Acres in Open Space 125
Public Education
Elementary Schools
6
Middle Schools
2
High School
1
Continuation High School
1
Education Center
1
School Enrollment
8,296
Police Protection
Number of Stations 1
Police Personnel (Full Time Equivalent) 60
Fire Protection
Number of Stations 3
Fire Personnel (Full Time Equivalent) 39.64
Community Facilities
Dublin Civic Center
1
Dublin Senior Center
1
Dublin Swim Center
1
Dublin Heritage Center
3
Dublin Public Library
1
Shannon Community Center
1
Emerald Glen Activity Center
1
Source: City of Dublin
179
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CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
AND
REQUIRED COMMUNICATIONS
FOR THE YEAR ENDED
JUNE 30,2014
This Page Left Intentionally Blank
CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
AND
REQUIRED COMMUNICATIONS
For the Year Ended June 30,2014
Table of Contents
P, age
Memorandum on Internal Control....................................................................................................l
Scheduleof Other Matters........................................................................................................3
RequiredCommunications................................................................................................................7
SignificantAudit Findings.......................................................................................................7
AccountingPolicies............................................................................................................7
Unusual Transactions, Controversial or Emerging Areas................................................7
Estimates.............................................................................................................................7
Disclosures.........................................................................................................................8
Difficulties Encountered in Performing the Audit.............................................................8
Corrected and Uncorrected Alisstatements.......................................................................8
Disagreements with Management......................................................................................8
Management Representations............................................................................................8
Management Consultations with Other Independent Accountants................................8
Other Audit Findings and Issues.......................................................................................8
Other Information Accompanying the Financial Statements................................................9
This Page Left Intentionally Blank
F/
MAZE
& ASSOCIATES
MEMORANDUM ON INTERNAL CONTROL
To the City Council of
the City of Dublin, California
In planning and performing our audit of the basic financial statements of the City of Dublin, in
accordance with auditing standards generally accepted in the United States of America,we considered the
City's internal control over financial reporting (internal control) as a basis for designing our auditing
procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the
financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's
internal control. Accordingly, we do not express an opinion on the effectiveness of the City's internal
control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination
of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement
of the City's financial statements will not be prevented, or detected and corrected on a timely basis.
Our consideration of internal control was for the limited purpose described in the first paragraph and was
not designed to identify all deficiencies in internal control that might be material weaknesses. In addition,
because of inherent limitations in internal control, including the possibility of management override of
controls,misstatements due to error or fraud may occur and not be detected by such controls. Given these
limitations, during our audit we did not identify any deficiencies in internal control that we consider to be
material weaknesses. However,material weaknesses may exist that have not been identified.
Included in the Schedule of Other Matters are recommendations not meeting the above definitions that we
believe to be of potential benefit to the City.
The City's written responses included in this report have not been subjected to the audit procedures
applied in the audit of the financial statements and, accordingly,we express no opinion on them.
This communication is intended solely for the information and use of management, City Council, others
within the organization, and agencies and pass-through entities requiring compliance with Government
Auditing Standards, and is not intended to be and should not be used by anyone other than these specified
parties.
4 Mt4
Pleasant Hill,California
November 21,2014
T 925.930.0902
Accountancy Corporation F 925.930.0135
3478 Buskirk Avenue,Suite 215 E maze @mazeassociates.com
Pleasant Hill,CA 94523 1 w mazeassociates.com
This Page Left Intentionally Blank
CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
SCHEDULE OF OTHER MATTERS
2014-01: Bank Signature Cards
Criteria: Signature cards for the bank and investment accounts should be updated immediately after
there is a change in authorized signers.
Condition: During our examination of the City's signature cards,we found that the former City Manager
(departed in April 2014)was still listed as an authorized signer for the City's investments accounts as of
June 24,2014.
Effect: Keeping ex-employees as authorized signers on the City's investment accounts exposes the City
to the risk of misappropriation of City's assets
Cause: The City delayed the update of the signature cards until after the former Finance Manager left the
City on June 12,2014 so that all changes would be reflected on the new signature cards.
Recommendation: We recommend that the City review all of its signature cards immediately to ensure
that all authorized signers are current. In addition, a step should be added to the employee departure
checklist to ensure that outside parties (such as banks, investment advisors, bond trustees) are informed
that the departed employee no longer represents the City immediately after the departure occurs.
Management Response: The City has updated all signature cards with current and appropriate staffmg.
Controlling signature cards has been added to the Administrative Services Department's portion of the
City's internal on/off-boarding process to ensure that timely changes are made to signature cards in the
future.
2014-02: Review of Payroll Registers
Criteria: Monitoring is an important component for internal control structure as it involves evaluating
the effectiveness of controls on an ongoing basis and taking remedial actions when necessary.
Condition: As part of the City's internal control procedures, until her departure, the Finance Manager
was responsible for reviewing the payroll registers after each payroll run. During our audit,we selected
three payroll registers and found that two of them (for the pay periods ending January 10,2014 and May
16,2014)had no indication of review.
Effect: Without physical evidence of the review, the City cannot monitor the effectiveness of such
control procedure.
Cause: We were unable to determine the cause of this issue as the Finance Manager has since departed
the City.
Recommendation: To demonstrate that good internal controls are in place in the City,the employee who
reviews the payroll register should sign or initial on the face of the document to denote a review has taken
place.
Management Response: The Administrative Services Department has implemented a procedure by
which the payroll reviewer stamps and signs, in the same location, the bi-weekly payroll report. This
action now serves as the formal review and approval of payroll.
3
CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
SCHEDULE OF OTHER MATTERS
NEW GASB PRONOUNCEMENTS OR PRONOUNCEMENTS NOT YET EFFECTIVE
The following comment represents new pronouncements taking affect in fiscal year 2014-15. We have
cited them here to keep you abreast of developments:
GASB 68-Accounting and Financial Reporting for Pensions (an amendment of GASB 27)
This Statement will have material impact on the City's financial statements. The primary objective of this
Statement is to improve accounting and financial reporting by state and local governments for pensions.
This Statement establishes standards for measuring and recognizing liabilities, deferred outflows of
resources, and deferred inflows of resources, and expense/expenditures. For defined benefit pensions,this
Statement identifies the methods and assumptions that should be used to project benefit payments,
discount projected benefit payments to their actuarial present value, and attribute that present value to
periods of employee service.
In financial statements prepared using the economic resources measurement focus and accrual basis of
accounting, a single or agent employer that does not have a special funding situation is required to
recognize a liability equal to the net pension liability. The net pension liability is required to be measured
as of a date no earlier than the end of the employer's prior fiscal year(the measurement date), consistently
applied from period to period.
Note disclosure and required supplementary information requirements about pensions also are addressed.
Distinctions are made regarding the particular requirements for employers based on the number of
employers whose employees are provided with pensions through the pension plan and whether pension
obligations and pension plan assets are shared.
The following are the major impacts:
• This Statement requires the liability of employers and nonemployer contributing entities to
employees for defined benefit pensions net pension liability)to be measured as the portion of
the present value of projected benefit payments to be provided through the pension plan to current
active and inactive employees that is attributed to those employees' past periods of service total
pension liability),less the amount of the pension plan's fiduciary net position.
• Actuarial valuations of the total pension liability are required to be performed at least every two
years, with more frequent valuations encouraged. If a valuation is not performed as of the
measurement date,the total pension liability is required to be based on update procedures to roll
forward amounts from an earlier actuarial valuation (performed as of a date no more than 30
months and 1 dayprior to the employer's most recent year-end).
• The actuarial present value of projected benefit payments is required to be attributed to periods of
employee service using the entry age actuarial cost method with each period's service cost
determined as a level percentage of pay. The actuarial present value is required to be attributed
for each employee individually, from the period when the employee first accrues pensions
through the period when the employee retires.
4
CITY OF DUBLIN
MEMORANDUM ON INTERNAL CONTROL
SCHEDULE OF OTHER MATTERS
GASB 69–Government Combinations and Disposals of Government Operations
This Statement establishes accounting and financial reporting standards related to government
combinations and disposals of government operations. As used in this Statement, the term government
combinations includes a variety of transactions referred to as mergers, acquisitions, and transfers of
operations.
GASB 71 - Pension Transition for Contributions Made Subsequent to the Measurement Date—an
amendment of GASB Statement No. 68
The objective of this Statement is to address an issue regarding application of the transition provisions of
Statement No. 68, Accounting and Financial Reporting for Pensions. The issue relates to amounts
associated with contributions, if any, made by a state or local government employer or non-employer
contributing entity to a defined benefit pension plan after the measurement date of the government's
beginning net pension liability.
Statement 68 requires a state or local government employer (or non-employer contributing entity in a
special funding situation) to recognize a net pension liability measured as of a date (the measurement
date) no earlier than the end of its prior fiscal year. If a state or local government employer or non-
employer contributing entity makes a contribution to a defined benefit pension plan between the
measurement date of the reported net pension liability and the end of the government's reporting period,
Statement 68 requires that the government recognize its contribution as a deferred outflow of resources.
In addition, Statement 68 requires recognition of deferred outflows of resources and deferred inflows of
resources for changes in the net pension liability of a state or local government employer or non-employer
contributing entity that arise from other types of events.At transition to Statement 68,if it is not practical
for an employer or non-employer contributing entity to determine the amounts of all deferred outflows of
resources and deferred inflows of resources related to pensions, paragraph 137 of Statement 68 required
that beginning balances for deferred outflows of resources and deferred inflows of resources not be
reported.
Consequently, if it is not practical to determine the amounts of all deferred outflows of resources and
deferred inflows of resources related to pensions, contributions made after the measurement date of the
beginning net pension liability could not have been reported as deferred outflows of resources at
transition. This could have resulted in a significant understatement of an employer or non-employer
contributing entity's beginning net position and expense in the initial period of implementation.
This Statement amends paragraph 137 of Statement 68 to require that, at transition, a government
recognize a beginning deferred outflow of resources for its pension contributions, if any,made subsequent
to the measurement date of the beginning net pension liability. Statement 68, as amended, continues to
require that beginning balances for other deferred outflows of resources and deferred inflows of resources
related to pensions be reported at transition only if it is practical to determine all such amounts.
The provisions of this Statement are required to be applied simultaneously with the provisions of
Statement 68.
5
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MAZE
& ASSOCIATES
REQUIRED COMMUNICATIONS
Honorable Mayor and Members of the City Council of
City of Dublin, California
We have audited the basic financial statements of the City of Dublin for the year ended June 30, 2014.
Professional standards require that we communicate to you the following information related to our audit
under generally accepted auditing standards and,Government Auditing Standards.
Significant Audit Findings
Accounting Policies
Management is responsible for the selection and use of appropriate accounting policies. The significant
accounting policies used by City of Dublin are described in Note 1 to the financial statements. The
following pronouncements became effective, but did not have a material effect on the financial
statements:
GASB 66 — Technical Corrections-2012—an amendment of GASB Statements No. 10 and No.
62
GASB 70--Accounting and Financial Reporting for Nonexchange Financial Guarantees
Unusual Transactions, Controversial or Emerging Areas
We noted no transactions entered into by the City during the year for which there is a lack of authoritative
guidance or consensus.All significant transactions have been recognized in the financial statements in the
proper period.
Estimates
Accounting estimates are an integral part of the financial statements prepared by management and are
based on management's knowledge and experience about past and current events and assumptions about
future events. Certain accounting estimates are particularly sensitive because of their significance to the
financial statements and because of the possibility that future events affecting them may differ
significantly from those expected.The most sensitive estimate(s) affecting the City's financial statements
was:
• Management's estimate of depreciation is based on useful lives determined by management.
These lives have been determined by management based on the expected useful life of assets as
disclosed in Note 6. We evaluated the key factors and assumptions used to develop the in
determining that it is reasonable in relation to the financial statements taken as a whole.
• Accrued compensated absences are estimated using accumulated unpaid leave hours and hourly
pay rates in effect at the end of the fiscal year. We evaluated the key factors and assumptions
used to develop the accrued compensated absences and determined that it is reasonable in relation
to the basic financial statements taken as a whole.
T 925.930.0902
Accountancy Corporation F 925.930.0135
3478 Buskirk Avenue,Suite 215 E maze @mazeassociates.com
Pleasant Hill, CA 94523 7 «mmazeassodates..corn
Disclosures
The financial statement disclosures are neutral,consistent,and clear.
Difficulties Encountered in Performing the Audit
We encountered no significant difficulties in dealing with management in performing and completing our
audit.
Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all known and likely misstatements identified during the
audit, other than those that are clearly trivial, and communicate them to the appropriate level of
management. Management has corrected all/certain such misstatements. We did not propose any audit
adjustments that in our judgment, could have a significant effect, either individually or in the aggregate,
on the entity's financial reporting process.
Disagreements with Management
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or
auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial
statements or the auditor's report. We are pleased to report that no such disagreements arose during the
course of our audit.
Management Representations
We have requested certain representations from management that are included in a management
representation letter dated November 21,2014.
Management Consultations with Other Independent Accountants
In some cases, management may decide to consult with other accountants about auditing and accounting
matters, similar to obtaining a "second opinion" on certain situations. If a consultation involves
application of an accounting principle to the governmental unit's financial statements or a determination
of the type of auditor's opinion that may be expressed on those statements, our professional standards
require the consulting accountant to check with us to determine that the consultant has all the relevant
facts.To our knowledge,there were no such consultations with other accountants.
Other Audit Findings or Issues
We generally discuss a variety of matters, including the application of accounting principles and auditing
standards, with management each year prior to retention as the governmental unit's auditors. However,
these discussions occurred in the normal course of our professional relationship and our responses were
not a condition to our retention.
8
Other Information Accompanying the Financial Statements
With respect to the supplementary information accompanying the financial statements, we made certain
inquiries of management and evaluated the form, content, and methods of preparing the information to
determine that the information complies with accounting principles generally accepted in the United
States of America, the method of preparing it has not changed from the prior period, and the information
is appropriate and complete in relation to our audit of the financial statements. We compared and
reconciled the supplementary information to the underlying accounting records used to prepare the
financial statements or to the financial statements themselves.
With respect to the required supplementary information accompanying the financial statements, we
applied certain limited procedures to the required supplementary information in accordance with auditing
standards generally accepted in the United States of America,which consisted of inquiries of management
about the methods of preparing the information and comparing the information for consistency with
management's responses to our inquiries, the basic financial statements, and other knowledge we obtained
during our audit of the basic financial statements. We did not express an opinion nor provide any assurance
on the information because the limited procedures do not provide us with sufficient evidence to express an
opinion or provide any assurance.
The Introductory and Statistical Sections included as part of the Comprehensive Annual Financial Report
have not been subjected to the auditing procedures applied in the audit of the basic financial statements and,
accordingly,we did not express an opinion nor provide any assurance on them.
This information is intended solely for the use of City Council and management and is not intended to be,
and should not be,used by anyone other than these specified parties.
P(�oy. 4 44 0(;A�
Pleasant Hill,California
November 21,2014
9
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CITY OF DUBLIN
ALAMEDA COUNTY TRANSPORTATION COMMISSION-
MEASURE B FUNDS
FOR THE YEAR ENDED JUNE 30,2014
This Page Left Intentionally Blank
CITY OF DUBLIN
ALAMEDA COUNTY TRANSPORTATION COMMISSION
MEASURE B FUNDS
For the Year Ended June 30,2014
Table of Contents
Page
Independent Auditor's Report............................................................................................................. 1
Financial Statements
CombinedBalance Sheet..................................................................................................................3
Combined Statement of Revenues,Expenditures and Changes in Fund Balance..........................4
Notes to Financial Statements..........................................................................................................5
Independent Auditor's Report On Measure B Compliance.............................................................9
This Page Left Intentionally Blank
t & ASMAZE
S OCiA 1 EJ
INDEPENDENT AUDITOR'S REPORT
Honorable Mayor and Members of the City Council of the City of Dublin
City of Dublin, California
Report on Financial Statements
We have audited the accompanying financial statements of the Alameda County Transportation
Commission—Measure B Funds (Measure B Funds) of the City of Dublin, California, as of and for
the year ended June 30, 2014, and the related notes to the financial statements, which collectively
comprise the Measure B Funds' basic financial statements as listed in the Table of Contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation, and maintenance of internal control relevant to the preparation
and fair presentation of the financial statements that are free from material misstatement, whether
due to fraud or error.
Auditor's Responsibility
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 and 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 from
material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the City's
preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness
of the City's internal control. Accordingly, we express no such opinion. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
As discussed in Note 1 to the financial statements, the financial statements referred to above present
only the Measure B Funds and are not intended to present fairly the financial positions of the City and
the results of its operations in conformity with generally accepted accounting principles.
T 925.930.0902
Accountancy Corporation F 925.930.0135
3478 Buskirk Avenue,Suite 215 e maze@mazeassociates.com
Pleasant Hill, CA 94523 1 w mazeassociates.com
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the Measure B Funds of the City as of June 30, 2014, and the change in financial
position for the year then ended in conformity with accounting principles generally accepted in the
United States of America.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated November
21, 2014, 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 grant agreements and
other matters. The purpose of that report is to describe the scope of our testing of internal control
over financial reporting and compliance and the results of that testing, and not to provide an opinion
on internal control over financial reporting or on compliance. That report is an integral part of an
audit performed in accordance with Government Auditing Standards in considering the City's
internal control over financial reporting and compliance.
IlAt6ty, I IAo "
Pleasant Hill, California
November 21,2014
2
City of Dublin
Alameda County Transportation Commission-Measure B Funds
Combined Balance Sheet
June 30,2014
Special
Revenue Funds
Measure B Measure B
Local Bike and
Streets Pedestrian Total
ASSETS
Cash and investments $ 754,115 $ 36,240 $ 790,355
Direct Local Distribution Program Receivable 62,204 21,896 84,100
Total assets 816,319 58,136 874,455
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ - $ 5,356 $ 5,356
Total liabilities - 5,356 5,356
Fund Balances:
Restricted 816,319 52,780 869,099
Total fund balances 816,319 52,780 869,099
Total liabilities and fund balances $ 816,319 $ 58,136 $ 874,455
See accompanying Notes to Financial Statements
3
City of Dublin
Alameda County Transportation Commission- Measure B Funds
Combined Statement of Revenues, Expenditures and Changes In
Fund Balance
For the year ended June 30,2014
Special
Revenue Funds
Measure B Measure B
Local Bike and
Streets Pedestrian Total
REVENUES:
Direct Local Program Distribution Allocation $ 385,015 $ 135,524 $ 520,539
Interest 4,044 91 4,135
Total revenues 389,059 135,615 524,674
EXPENDITURES:
Current:
Highway and Streets - 58,049 58,049
Capital outlay:
Street Overlay Program 445,889 - 445,889
Street Slurry Seal Programs - 54,789 -
W.Dublin Bart Station/Golden Gate Dr. 1,012 - 1,012
Total expenditures 446,901 112,838 504,950
CHANGE IN FUND BALANCES (57,842) 22,777 19,724
FUND BALANCES:
Beginning of year,as restated(Note 1D) 874,161 30,003 904,164
End of year $ 816,319 $ 52,780 $ 923,888
See accompanying Notes to Financial Statements
4
CITY OF DUBLIN
ALAMEDA COUNTY TRANSPORTATION COMMISSION
MEASURE B FUNDS
NOTES TO FINANCIAL STATEMENTS
For the year ended June 30,2014
NOTE 1-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
All transactions of the Alameda County Transportation Commission - Measure B Funds (Measure
B Funds)of the City of Dublin, California(City),are included as a separate special revenue fund in
the basic financial statements of the City. Measure B Funds is used to account for the City's share
of revenues earned and expenditures incurred under the City's local streets, bikes and pedestrians
and capital projects programs. The accompanying financial statements are for Measure B Funds
only and are not intended to fairly present the financial position of the City and the results of its
operations and cash flows of its proprietary fund type.
B. Basis of Accounting
The accompanying financial statements are prepared on the modified accrual basis of accounting.
Revenues are generally recorded when measurable and available, and expenditures are recorded
when the related liabilities are incurred.
The accounting and financial reporting treatment applied to a fund is determined by its
measurement focus. All governmental funds are accounted for using a "current financial
resources" measurement focus, wherein only current assets and current liabilities generally are
included on the balance sheets. Operating statements of governmental funds present increased
(revenues and other financing sources)and decreased(expenditures and other financing uses)in net
current assets.
C. Description of Funds
The accounts are maintained on the basis of fund accounting. A fund is a separate accounting entity
with a self-balancing set of accounts.
The following funds are used:
Special Revenue Funds - To account for the proceeds of specific revenues that are legally
restricted to be expended for specified purposes.
D. Restatement of Beginning Fund Balance
Beginning fund balance has been adjusted for$23,490 due to reimbursement of fiscal year 2012-13
project expenditures from other agency, not direct distribution from Alameda County
Transportation Commission.
5
CITY OF DUBLIN
ALAMEDA COUNTY TRANSPORTATION COMMISSION
MEASURE B FUNDS
NOTES TO FINANCIAL STATEMENTS
For the year ended June 30,2014
NOTE 2—CASH AND INVESTMENTS
Cash and investments are maintained on a pooled basis with those of other funds of the City. Pooled
cash and investments consist of U.S. government securities, deposits with banks, mutual funds and
participation in the California Local Agency Investment Fund. All investments are stated at fair value.
Pooled investment earnings are allocated monthly based on the average monthly cash and investment
balances of the various funds and related entities of the City.
See the City's Comprehensive Annual Financial Report for disclosures related to cash and investments
and the related custodial risk categorization. This may be obtained from the City of Dublin, 100 Civic
Plaza,Dublin, California 94568.
NOTE 3—RECEIVABLES
The receivables represent the Measure B sales tax revenues and project reimbursements for the fiscal
year received from the Alameda County Transportation Commission after June 30,2014.
INOTE 4—MEASURE B FUNDS
Under Measure B, approved by the voters of Alameda County in 1986 (Old Measure B) and in 2000,
Alameda CTC Measure B,the City receives a portion of the proceeds of an additional one-half cent sales
tax to be used for transportation-related expenditures. This measure was adopted with the intention that
the funds generated by the additional sales tax will not fund expenditures previously paid for by property
taxes but,rather,would be used for additional projects and programs.
Local projects funded by Measure B were as follows:
• Highway and Streets (Public Work Admin) - Bicycle Master Plan Program Implementation and
update of 2007 Bikeway and Pedestrian Mater Plan.
• W. Dublin BART Station/Golden Gate Drive - Measure B provided funding associated with
improvements and enhancements along Golden Gate Drive from Dublin Boulevard to the West
Dublin/Pleasanton BART station.
• Street Overlay Program-Measure B provided funding for the replacement of asphalt overlay on
streets throughout the City and prolongs the useful life of the pavement. The scope of work
includes removing and replacing failed pavement,placing asphalt concrete overlay and restriping
the street.
From a pool of funds held by the County, Certain additional portion of the pool is allocated among the
cities in the County, based on the cities' populations and the number of roads within their city limits for
other transportation-related projects. Funds allocated for streets and roads; bike lanes and pedestrian
lanes are recorded as a special revenue funds.
6
CITY OF DUBLIN
ALAMEDA COUNTY TRANSPORTATION COMMISSION
MEASURE B FUNDS
NOTES TO FINANCIAL STATEMENTS
For the year ended June 30,2014
NOTE 5-COMMITMENTS AND CONTINGENCIES
The City participates in several grant programs. These programs have been audited by the City's
independent accountants in accordance with the provisions of applicable State requirements. No cost
disallowances were proposed as a result of these audits;however,these programs are still subject to further
examination by the grantors and the amount, if any, of expenditures which may be disallowed by the
granting agencies cannot be determined at this time. The City expects such amounts, if any, to be
immaterial.
7
This Page Left Intentionally Blank
MAZE
& ASSOCIATES
INDEPENDENT AUDITOR'S REPORT ON MEASURE B COMPLIANCE
To the Honorable Members of the City Council
City of Dublin, California
Report on Compliance for Measure B Funds
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the basic financial statements of the Measure B
Funds of the City of Dublin(City), California, as of and for the year ended June 30, 2014 and the related
notes to the financial statements, and have issued our report thereon date November 21,2014.
Management's Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and
grants specified in the Master Programs Funding Agreement between the City and the Alameda County
Transportation Commission.
Auditor's Responsibility
Our responsibility is to express an opinion on compliance for the Measure B funds based on our audit of
the types of compliance requirements referred to above. We conducted our audit of compliance 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; and requirements specified in the Master Programs Funding Agreement
between the City and the Alameda County Transportation Commission. Those standards and
requirements require that we plan and perform the audit to obtain reasonable assurance about whether
noncompliance with the types of compliance requirements referred to above that could have a direct and
material effect on Measure B Funds occurred. An audit includes examining, on a test basis, evidence
about the City's compliance with those requirements and performing such other procedures as we
considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for the Measure B
Funds. However, our audit does not provide a legal determination of the City's compliance.
Opinion on Measure B Funds
In our opinion, the City complied, in all material respects, with the types of compliance requirements
referred to above that could have a direct and material effect on Measure B Funds for the year ended
June 30,2014.
T 925.930.0902
Accountancy Corporation F 925.930.0135
3478 Buskirk Avenue,Suite 215 E maze @mazeassociates.com
Pleasant Hill,CA 94523 9 w mazeassociates.com
Report on Internal Control Over Compliance
Management is responsible for establishing and maintaining effective internal control over compliance
with the types of compliance requirements referred to above. In planning and performing our audit of
compliance, we considered the City's internal control over compliance with the types of requirements
that could have a direct and material effect on Measure B Funds to determine the auditing procedures
that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for the
Measure B Funds and to test and report on internal control over compliance, but not for the purpose of
expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not
express an opinion on the effectiveness of the City's internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their assigned
functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of
Measure B Funds on a timely basis. A material weakness in internal control over compliance is a
deficiency, or combination of deficiencies, in internal control over compliance, such that there is a
reasonable possibility that material noncompliance with a type of compliance requirement of Measure B
Funds will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in
internal control over compliance is a deficiency, or a combination of deficiencies, in internal control
over compliance with a type of compliance requirement of Measure B Funds that is less severe than a
material weakness in internal control over compliance, yet important enough to merit attention by those
charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over
compliance that might be material weaknesses or significant deficiencies. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
material weaknesses may exist that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our
testing of internal control over compliance and the results of that testing based on the requirements,
specified in the Master Programs Funding Agreement between the City and the Alameda County
Transportation Commission.Accordingly,this report is not suitable for any other purpose.
*Se 4L � .VtLA
Pleasant Hill,California
November 21,2014
10
CITY OF DUBLIN,CALIFORNIA
ALAMEDA COUNTY
VEHICLE REGISTRATION FEE(VRF)
MEASURE F PROGRAM
FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30,2014
This Page Left Intentionally Blank
CITY OF DUBLIN,CALIFORNIA
ALAMEDA COUNTY VEHICLE REGISTRATION FEE(VRF)
MEASURE F PROGRAM
FINANCIAL STATEMENTS
For The Year Ended June 30,2014
Table of Contents
Page
Independent Auditor's Report 1
Financial Statements:
Balance Sheet 3
Statement of Revenues,Expenditures and Changes in Fund Balance 4
Notes to Financial Statements 5
Independent Auditor's Report on Vehicle Registration Fee(VRF)Measure F Compliance 7
This Page Left Intentionally Blank
W\ MAZE T
INDEPENDENT AUDITOR'S REPORT
Honorable Mayor and Members of the City Council
City of Dublin,California
Report on Financial Statements
We have audited the accompanying financial statements of the Alameda County Vehicle Registration Fee
(VRF)Measure F Program(Measure F Program)of the City of Dublin(City),California,as of and for the
year ended June 30, 2014, and the related notes to the financial statements,which collectively comprise
the Measure F Program's basic financial statements as listed in the Table of Contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements hi
accordance with accounting principles generally accepted in the United States of America;this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of the financial statements that are free from material misstatement,whether due to fraud or
error.
Auditor's Responsibility
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 and 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 from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor's judgment, including the assessment
of the risks of material misstatement of the financial statements,whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the City's preparation and fair
presentation of the financial statements hi order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal
control. Accordingly,we express no such opinion. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of significant accounting estimates made by management,
as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.
As discussed in Note 2 to the financial statements,the financial statements referred to above present only the
Measure F Program and are not intended to present fairly the financial positions of the City and the results
of its operations in conformity with generally accepted accounting principles.
T 925.930.0902
Accountancy Corporation F 925.930.0135
3478 Buskirk Avenue,Suite 215 e maze@mazeassociates.com
Pleasant Hill,CA 94523 1 w mazeassociates.com
Opinions
In our opinion,the financial statements referred to above present fairly,in all material respects,the financial
position of the Measure F Program of the City as of June 30,2014,and the change in financial position for
the year then ended in conformity with accounting principles generally accepted in the United States of
America.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards,we have also issued our report dated November 21,
2014, 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 grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing,and not to provide an opinion on internal control
over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the City's internal control over financial
reporting and compliance.
*Vie- i i34o 1,t3
Pleasantilill,California
November 21,2014
2
City of Dublin
Alameda County Transportation Improvement
Authority-Vehicle Registration Fee
Balance Sheet
June 30,2014
Vehicle
Registration
Fee Special
Revenue Fund
ASSETS
Cash and investments $ 102,417
Direct Local Distribution Program Receivable 42,373
Total assets $ 144,790
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable $ 59,312
Total liabilities 59,312
Fund Balances:
Restricted 85,478
Total fund balances 85,478
Total liabilities and fund balances $ 144,790
See accompanying Notes to Financial Statements
3
City of Dublin
Alameda County Transportation Improvement Authority
-Vehicle Registration Fee Statement of Revenues,
Expenditures and Changes In Fund Balance
For the year ended June 30,2014
Vehicle
Registration
Fee Special
Revenue
Fund
REVENUES:
Direct Local Distributions $ 236,324
Interest 1,109
Total revenues 237,433
EXPENDITURES:
Current
Highway and Streets 150,773
Capital Outlay:
Traffic Signal Improvements 283,492
Total expenditures 434,265
NET CHANGE IN FUND BALANCE (196,832)
FUND BALANCE
Beginning of year 282,310
End of year $ 85,478
See accompanying Notes to Financial Statements
4
CITY OF DUBLIN,CALIFORNIA
ALAMEDA COUNTY VEHICLE REGISTRATION FEE(VRF)MEASURE F PROGRAM
Notes to the Financial Statements
for the Year Ended June 30,2014
NOTE 1—BACKGROUND
Measure F Program - Alameda County Vehicle Registration Fee Measure F (Measure F
Program)was approved by the voters in November 2010,with 63 percent of the vote.The fee will
generate about$10.7 million per year by a$10 per year vehicle registration fee.The collection of
the $10 per year vehicle registration fee started in the first week of May 2011. The goal of the
VRF Program is to sustain the County's transportation network and reduce traffic congestion and
vehicle related pollution. The program includes four categories of projects:
• Local Road Improvement and Repair Program(60 percent)
• Transit for Congestion Relief(25 percent)
• Local Transportation Technology(10 percent)
• Pedestrian and Bicyclist Access and Safety Program(5 percent)
The Alameda County Transportation Commission n lministers the program and distributes an
equitable share of the funds among the four planning areas of the county over successive five year
cycles. Geographic equity will be measured by a formula, weighted 50 percent by population of
the planning area and 50 percent of registered vehicles of the planning area.
I NOTE 2-SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES I
Reporting Entity — All transactions of the Measure F Program of the City are included as a
separate special revenue fund in the basic financial statements of the City.
The accompanying financial statements include the Measure F Program only and are not intended
to fairly present the financial position, results of operations and cash flows of the City in
conformity with accounting principles generally accepted in the United States of America.
Basis of Accounting — The accompanying financial statements are prepared on the modified
accrual basis of accounting. Revenues are generally recorded when measurable and available, and
expenditures are recorded when the related liabilities are incurred.
The accounting and financial reporting treatment applied to a fund is determined by its
measurement focus. All governmental funds are accounted for using a "current financial
resources" measurement focus, wherein only current assets and current liabilities generally are
included on the balance sheets. Operating statements of governmental funds presents increases
(revenues and other financing sources) and decreases (expenditures and other financing uses) in
net current assets.
Description of Funds—The accounts are maintained on the basis of fund accounting.A fund is a
separate accounting entity with a self-balancing set of accounts.
5
CITY OF DUBLIN,CALIFORNIA
ALAMEDA COUNTY VEHICLE REGISTRATION FEE(VRF)MEASURE F PROGRAM
Notes to the Financial Statements
for the Year Ended June 30,2014
NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES(Continued) I
The following funds are used:
Special Revenue Funds - To account for the proceeds of specific revenues that are legally
restricted to be expended for specified purposes.
Use of Estimates - Management uses estimates and assumptions in preparing the financial
statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, •
the disclosures of contingent assets and liabilities,and the reported revenues and expenses.Actual
results could differ from those estimates.
NOTE 3-CASH AND INVESTMENTS I
Cash and investments are maintained on a pooled basis with those of other funds of the City.
Pooled cash and investments consist of U.S. government securities, deposits with banks, mutual
funds and participation in the California Local Agency Investment Fund. All investments are
stated at fair value. Pooled investment earnings are allocated monthly based on the average
monthly cash and investment balances of the various funds and related entities of the City.
See the City's Comprehensive Annual Financial Report for disclosures related to cash and
investments and the related custodial risk categorization. This may be obtained from the City of
Dublin, 100 Civic Plaza,Dublin,California 94568.
6
WMAZE CT
INDEPENDENT AUDITOR'S REPORT ON VEHICLES REGISTRATION FEE(VRF)
MEASURE F COMPLIANCE
{
To the Honorable Members of the City Council
City of Dublin,California
Report on Compliance for Measure FProgram
• We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the basic financial statements of Measure F
Program of the City of Dublin(City),California,as of and for the year ended June 30,2014 and the related
notes to the financial statements,and have issued our report thereon date November 21,2014.
Management's Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and
grants specified in the Master Programs Funding Agreement,between the City and the Alameda County
Transportation Commission.
Auditor's Responsibility
Our responsibility is to express an opinion on compliance for the Measure F Program based on our audit of
the types of compliance requirements referred to above. We conducted our audit of compliance 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; and requirements specified in the Master Programs Funding Agreement
between the City and the Alameda County Transportation Commission.Those standards and requirements
require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance
with the types of compliance requirements referred to above that could have a direct and material effect on
Measure F Program. An audit includes examining, on a test basis, evidence about the City's compliance
with those requirements and performing such other procedures as we considered necessary in the
circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for the Measure F
Program.However,our audit does not provide a legal determination of the City's compliance.
r 925.930.0902
Accountancy Corporation F 925.930.0135
3478 Buskirk Avenue,Suite 215 E maze @mazeassociates.com
Pleasant Hill,CA 94523 7 w mazeassociates.cam
Opinion on Measure FPrograms
In our opinion, the City complied, in all material respects, with the types of compliance requirements
referred to above that could have a direct and material effect on Measure F Program for the year ended
June 30,2014.
Report on Internal Control Over Compliance
Management is responsible for establishing and maintaining effective internal control over compliance
with the types of compliance requirements referred to above. In planning and performing our audit of
compliance,we considered the City's internal control over compliance with the types of requirements that
could have a direct and material effect on Measure F Program to determine the auditing procedures that are
appropriate in the circumstances for the purpose of expressing an opinion on compliance for the Measure F
Program and to test and report on internal control over compliance,but not for the purpose of expressing
an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an
opinion on the effectiveness of the City's internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their assigned
functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of
Measure F Program on a timely basis. A material weakness in internal control over compliance is a
deficiency, or combination of deficiencies, in internal control over compliance, such that there is a
reasonable possibility that material noncompliance with a type of compliance requirement of Measure F
Program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in
internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over
compliance with a type of compliance requirement of Measure F Program that is less severe than a
material weakness in internal control over compliance, yet important enough to merit attention by those
charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over
compliance that might be material weaknesses or significant deficiencies. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
material weaknesses may exist that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing
of internal control over compliance and the results of that testing based on the requirements specified in
the Master Programs Funding Agreement between the City and the Alameda County Transportation
Commission.Accordingly,this report is not suitable for any other purpose.
* €- 4 sa&
Pleasant Hill,California
November 21,2014
8
W\ MAZTE
IN DEPENDENT ACCOUNTANT'S REPORT ON
APPLYING AGREED UPON PROCEDURES FOR
COMPLIANCE WITH THE PROPOSITION 111
2014-2015 APPROPRIATIONS LIMIT INCREMENT
•
•
Honorable Mayor and Members of the City Council
City of Dublin,California
We have performed the procedures below to the Appropriations Limit Worksheet which were agreed to by
the City of Dublin for the year ended June 30, 2015. These procedures, which were suggested by the
League of California Cities and presented in their Article XAIB Appropriations Limitation Uniform
Guidelines were performed solely to assist you in meeting the requirements of Section 1.5 of Article XIIIB
of the California Constitution. Management is responsible for the Appropriations Limit Worksheet. This
agreed-upon procedures engagement was conducted in accordance with attestation standards established by
the American Institute of Certified Public Accountants. The sufficiency of the procedures is solely the
responsibility of the City. Consequently, we make no representation regarding the sufficiency of the
procedures described below either for the purpose for which this report has been requested or for any other
purpose.
The procedures you requested us to perform and our findings were as follows:
A. We obtained the Appropriations Limit Worksheet and determined that the 2014-2015
Appropriations Limit of$247,143,137 and annual adjustment factors were adopted by Resolution
of the City Council.We also determined that the population and inflation options were selected by a
recorded vote of the City Council.
B. We recomputed the 2014-2015 Appropriations Limit by multiplying the 2013-2014 Prior Year
Appropriations Limit by the Total Growth Factor. We recomputed the Total Growth Factor by
multiplying the inflation option by the population option.
C. For the Appropriations Limit Worksheet, we agreed the Per Capita Income, City Population and
County Population Factors to California State Department of Finance Worksheets. We also agreed
the Local Non-Resident Construction Factor to the Contra Costa County's "Assessor Office
PROP 111 New Construction 2014-2015"Report.
We were not engaged to,and did not,conduct an audit,the objective of which would be the expression of an
opinion on the Appropriations Limit Worksheet. Accordingly,we do not express such an opinion. Had we
performed additional procedures, other matters might have come to our attention that would have been
reported to you.
This report is intended solely for the information of management and the City Council; however, this
restriction is not intended to limit the distribution of this report,which is a matter of public record.
a
ifY19c4f14
November 21,2014
r 925.930.0902
Accountancy Corporation F 925.930.0135
3478 Buskirk Avenue,Suite 215 E maze @mazeassociates.com
• Pleasant Hill,CA 94523 w mazeassociates.com