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Home My WebLink AboutItem 4.07 AuditReport2003-2004 AGENDA STATEMENT CITY COUNCIL MEETING DATE: March 1, 2005 CITY CLERK File # n~rnDJ..f?Jj[Q] e SUBJECT: Annual Audit Report for Fiscal Year 2003-2004 . Report Preparedby: Carole A. Perry. Administrative Services Director and Fred W. Marsh, Finance Manager ATTACHMENTS: 1. Comprehensive Annual Fin¡mcial Report of June 30, 2004 2. Recommendations to Management for Year Ended June 30, 2004 RECOMMENDATION~. J>-l. /, l/V' 2. Receive the _Reports Conñrm the Reservations of Fund Balances for Fiscal Year 2003-2004 See Staff Report. FINANCIAL STATEMENT: DESCRIPTION: The City of Dublin has compiled and published its Comprehensive Annual Financial Report for the Fiscal Year ending June 30, 2004. This report, which is included as Attachment One, includes financial statements prepared by Caporicci and Larson, CPA's (C&L), the independent auditors selected by the City Council. This is the fIrst year that.C&L has conducted this audit for the City. . The financial section of the report includes an unqualified opinion issued by C&L. The audit was also reviewed by the City Council Ad Hoc Audit Committee during their meeting on February 15, 2005. The Ad Hoc Committee met with the auditors to review the information and discuss the report. The Auditors assessed the City's internal controls for its fInancial reporting and operations and have made one recommendation; that the City's Information Technology Division develop a written disaster recovery plan to ensure the continuity of the City's operations in case of a disaster. Although a verbal plan is in place, in response, to this recommendation, Staff will be working with the City's Disaster Preparedness Staff to develop a written policy that will be implemented during Fiscal Year 2004·2005. It should be noted that an off_site storage arrangement for all City files and archives has already been put into operation to prevent the loss of any critical data. Although not officially part of the Fiscal Year 2003-2004 Annual Audit, also discussed during the Ad Hoc Meeting was the issue of post retiree benefits offered to employees. The City of Dublin contracted with Segal Group to complete an actuarial valuation of postretirement benefits. This analysis will establish the liabilities associated with this particular benefit plan, in accordance with recently adopted Governmental Accounting Standards Board Statements (GASB 43 and 45). This study is now near completion and when finalized, the City will utilize the actuarial data to revise the annual contribution to fund the accrued liability. The liability funding component will be developed in much greater detail for City Council as part of the Fiscal Year 2005-2006 budget. The City's audit report for Fiscal Year 2003-2004 has been prepared in compliance with the principles of GASB Statement 34. The transmittal letter and the Management Discussion and Analysis provide a good overview of the financial activities of the City. These documents focus on significant trends, as well as .~_~_______________________________~__.~____~____________________________ø~~__________________________p______ . COPIES TO: G:\AuditIFY 03-04\cafilagonda statement for final sudit roport.doc I fJ ~ Caporicci and Larson ITEMNO.~ major changes associated with the City's major funds (Le. General Fund and hnpact Fee funds). The General Fund represents the largest portion of the City's revenues and expenditures; ·therefòre, is of primary importance in evaluating the City's fiscal condition. .. The statistical section in the CAFR includes graphs of relevant historical data. This visual presentation can b~ helpfu~ .in identifying trends and/or the timing of key changes which have impacted the City's _ financIal condItion. . ., DESIGNATIONS OF FUND BALANCES A. For Recycling Programs - Measure D Recycling Fuud During the last eight fiscal years the City has received Mitigation and Recycled Product Grant Funds from County Waste Management Authority (WMA), which are to be utilized solely for designated Recycling Programs. All of these funds havebeen accounted for in the Measure D Recycling Fund. As of June 30, 2003, the City had a balance of $315,859, and added an $171,576 in mitigation funds received from WMA, leaving a balance available of $487,435 as of June 30, 2004. These funds have been shown as a separate restricted fund balance, in order to segregate them from the remainder of the Measure D Funds, since they will be a.source of funding for enhanced recycling programs. The City Council is requested to confirm the designation as part of accepting this report. . B. For Authorized Expenditures This designation is established to allow the City Council to carryover any unused funds as of June 30, 2004, to fund future year operations and projects for each of those funds with a positive fund balance. The City Council is requested to confirm the designation for all funds with a positive fund balance as of June 30, 2004, as part of accepting this report. . c. Other General Fund Designations of Fnnd Balance . The City Manager proposed, as part of his transmittal letter in the Preliminary Budget and Financial Plan for Fiscal Year 2004-2005, estimated reserve amounts in the Fund Balance for the General Fund. Those estimates were allocated for Capital Projects, Economic Uncertainty, and CIP Carryovers. The City Council is requested to confirm these designations as part of accepting the final audit report, .as well as setting up an additional reserve of $661,384 for Capital Projects, which could be used for rebuilding the Shannon Community Cen~. The chart below reflects the actual amounts available for designation. Desi nation Amount $976 690 $390,531 $613524 $1 980 745 Additional Desi nations $661 384 $661 384 Totals $1638074 $390,531 $613 524 $2 642 129 CONCLUSION Staff recommends that the City Council receive and file the reports and confIrm the designation of Fund Balances as presented in the annual audit report. . d"b d- . ¡. . . . City of Dublin Dublin, California Recommendations to Management For the year ended June 30, 2004 ·C&L . Caporied 8< Larson Certtfied Public A""D"nta,,'" ft. :'-\-05 ¿, t.+ ./ f C&L Caporicci&Larson Certified Public Accountants To the Honorable Mayor and Members of City Council of the City of Dublin Dublin, California • In planning and performing our audit of the basic financial statements of the City of Dublin (City) for the year ended June 30, 2004,we considered the City's internal control to plan our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on internal control. However, during our audit, we noted certain matters involving internal control and other operational matters that are presented for your consideration. This letter does not affect our report dated November 24, 2004, on the financial statements of the City. We will review the status of these comments during our next audit engagement. Our comments and recommendations, all of which have been discussed with management, are intended to improve internal control or result in other operating efficiencies. We will be pleased to discuss these comments in further detail at your convenience, to perform any additional study of these matters, or to assist you in implementing the recommendations. We wish to thank the members of the Finance Department and City management for • their assistance during our audit. This report is intended solely for the information and use of the City Council, management, and others within the City. ems. Z01,1"4--- Oakland,California November 24,2004 • • Toll Free Ph:(877)862-2200 Toll Free Fax:(866)436-0927 Oakland Orange County Sacramento San Diego 180 Grand Ave.,Suite 1365 3184-D Airway Avenue 777 Campus Commons Rd.,Suite 200 4858 Mercury,Suite 105 Oakland,California 94612 Costa Mesa,California 92626 Sacramento,California 95825 San Diego,California 92111 City of Dublin Recommendations to Management For the year ended June 30,2004 Table of Contents Page • Computer Controls 1 • City of Dublin Recommendations to Management For the year ended June 30,2004 COMPUTER CONTROLS Observation We noted during our audit that the City did not have a written disaster recovery plan, the objective of which is to ensure the continuity of the City's operations in case of a disaster. Recommendation We recommend that the City's Information Technology Department develop a written disaster recovery plan to ensure the continuity of the City's operations in case of a disaster. City Response The City currently maintains an off-site storage location for all City computer data files to minimize the potential loss of important data. In addition, the City's Information Technology Department will develop a written disaster recovery plan during Fiscal Year 2004-2005 • 1 �a . ,... _.. City o Dublin Comprehensive Annual Financial Report .k Off' D04 /hci 14 { 4.LIFOg•\� , . „r ■ S; _ kl� F ri- '''''',::''' a ,----- , '1, U d :-='!. ' a = _- 1 ., y : $Zvi 4 sy Fiscal Year 2003-2004 3-/-c `-1- 7 Alt at i Nv►eyit I I I I I I I I I I I I I I I I I I I I City of Dublin Dublin, California Comprehensive Annual Financial Report For the year ended June 30, 2004 C¡:'L 'I¡;' -c·<: Caporkd & Larson Certified Public An:ul.mturtt.,- I I I i I I I I I I I I I -, I I I I I City of Dublin Comprehensive Annual Financial Report For the year ended June 30, 2004 Table of Contents Page INTRODUCTORY SECTION Tabl e of Contents.................................. _.. _ _...... _.... _ _ _....................................................................................... _ __... i Letter of Transmittal............... _ _ _ _ _ __ _... _.............. _............................................................... _ _.............. __................. v Government Finance Officers Association (GFOA) Award.......__................................................................ Ix Pri ncipal Officers.......................... _ _ __ _ _ _ _ _....... _.. _ _ _ _............................................................. _ _....... _ _..... __ _ _ __ __. _ _ _........x Organizational Chart.........._.___ __.................................. ........ ...... ...........__............._.__.._____.................................... xi FINANCIAL SECTION Independent Auditors' Report .._...................__.................. .......... ........_................... .....__............................... ....1 Management's Discussion and Analysis ............. ............._......_____........................ ..... ..... ... .......... .... ... ............3 ßasic Financial Statements: Government-Wide Financial Statements: Statement of Net Assets .........................._....___._..... ........................ ...... .... ..... ..................___.........______....16 Statement of Aetivities and Chanr;es in Net Assets......................................______..__..........................18 Fond Financial Statements: Gouernmental Fund Financial Statements: Balance Sheet... ...... ........_...._..._.._........_..... .... ................ ..... ......... ....................___.____..........................22 Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Assets..............................................................25 Statement of Revenues, Expenditures and Changes in Fund Balances...................................26 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Government-Wide Statement of Activities and Changes in Net Assets..........................................___........____....28 Proprietary Fuud Financial Statements: State men t of Net Assets.. ........... .............. .................._.__............._................... ..........................__.._.29 Stalement of Revenues, Expenses and Changes in Net Assets ................................................30 Sla tement of Cash Flows ........... ...................... ......................... ......... .... ...................________....____._....31 Fiduciary Fund Finaucial Statements: Statement of Fid uciary Net Assets....... ..... ..... ..........._._.............................................................__..32 Index to Notes to Basic Financial Statements...........................................................................................33 Notes to Basic financial Statements ....................................................._....................................................35 City of Dublin Comprehensive Annual Financial Report For the year ended June 30, 2004 Table of Contents, Continued Pag-e FINANCIAL SECTIOJ'l¡. Continued Basic Financial Statements, Continued: Required Supplementary Information: Budgets and Budgetary Accounting ........ .....__........................... ............................ ............. ........ ........58 Statement of Revenues, Expenditure, and Changes in Fund Balances - Budget and Actua1..... ................. ......... ............ ..... ... ................... ..... ..................... ...........................59 Schedule of Funding Progress - Miscellaneous Plan of the California Public Employee Retirement System .... ....... .... ...... .... ...... .....................__.......__........ __.___................__............... ............61 Supplementary Information: General Fund: Schedule of Budget versus Actual Revenues by Sources.................................................................61í Schedule of Budget versus Actual Department Expenditures........................................................ 68 MajOI' Funds: Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual: Traffic Impact Fees Capital Projects Fund...................................................................................71 Public Facilities Fees Capital Projects Fund ................................................................................72 Park Dedication Capital Projects Fund .....__.................................................................................73 Fire Impact Fees Capital Projects Fund__......................................................................................74 Non-Major Governmental Funds: Combining Balance Sheet ... ............. .... ....... ... ........ ........... ..........................__...__.. .......... .......................78 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ....................84 Schedu.le of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual: Special Criminal Activity Special Revenue Fund.__.__.................................................................90 Vehicle Abatement Special Revenue Fund....____.............__...........................................................91 Supplemental Law Enforcement Special Revenue Fund .......mm.............................................92 Federal Police Grant Special Revenue Fund ......................mm..m__.mm__m.....................__.........93 CLIP Grant Special Revenue Fund ......................................m..._..._______.__.m__.__..m.......................94 Traffic Safety Special Revenue fund...................................____...__...........____._____............__.____........95 State Gas Tax Special Revenue fund..................................................__.__......m.......mm__.__.......m96 CDBG Special Revenue Fund ......... .... ...........................................m ........... ..................................97 ISTBA Special Revenue Fund ..................__...........___......................... ........... ............................ ...... 98 FEMA Special Revenue Fund......................__.__.m..__.m...m..m......m.....m...m...............................99 Measure B Sales Tax Transportation Special Revenue Fund .m....__........m........m....mm........100 State Transporlation Improvement Special Revenue Fund ........m....__...................................101 Îi I I I i I I I I I I I I I I I I I I I I I I I I I I I I I ~, I I I I I I I I I City of Dublin Comprehensive Annual Financial Report For the year ended June 30, 2004 Table of Contents, Continued Page FINANCIAL SECTION, Continued Supplementary Information, Continued Non-Major Govermnentall'unds, Continued: Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual, Continued: Transportation for Clean Air Special Revenue Fund...............................................................102 Storm Water Runoff Special Revenue Fund..............................................................................103 Measure D Recycling Special Revenue Fund ............................................................................104 Garbage Service Special Revenue Fund.....................................................................................l05 Measure B Bike and Pedestrian Special Revenue Fund...........................................................l06 EMS Special Revenue Fund ....... ........................,..,,................ .................,............... .............."'." 107 Traffic Congestion Relief Special Revenue Fund......................................................................108 Housing and Noise Mitigation Special Revenue Fund ...........................................................109 Dublin !túormation Ine. Special Revenue Fund .......................................................................110 Street Lighting Special Revenue Fund .............................._........................................................111 Stagecoach Landscape Special Revenue Fund.........................................................................J12 Dougherty Landscape and Lighting Special Revenue Fund ................_.................................'] '13 Santa Rita Assessment District 97-1 Special Revenue Fund ...................................................114 Dublin Street Lighting Assessment Special Revenue Fund....................................................'115 lntemal Service Funds: Combining Statement of Net Assets ............................................................_....................................118 Combining Statement of Revenues, Expenses and Changes in Net Assets .................,..............119 Combining Statement of Cash Flows................................................................................................'120 Agency Fund: Statement of Changes in Net Assets .................................................................................................122 STATISTICAL SliCTION Assessed Value of Taxable Property .......................................................................................................123 Schedule of 1993 Certificates of Participation Coverage ......................................................................124 Computation of Direct and Overlapping Debt ..............._......................................................................125 Computation of Legal Debt Margin ................................................................,.......................................126 Demographic Statistics,..............................,..,......................................"...................................·..·..·..····· ..127 Government Expenditures By Function All Government Fund Types..............................................128 Principall'roperty Taxpayers (Based on Secure 2003/2004 Tax Roll)....._..........................................129 III City of Dublin Comprehensive Annual Financial Report For the year ended June 30, 2004 Table of Contents, Continued Page º_TATISTICAT. SI¡,ÇTION, Continued Property Tax Rates - All Direct and Overlapping Governments .--.---..___............................__."___...............130 Property Tax Levies and Collections ...............__..__.___......................................._.................................._.__......131 Property Value. Construction and Bank Deposits .......------.-................................._.______............................._.132 General Govcmmental Revenues By Sources - All Governmental Fund Typcs ..............__....................133 Top 25 Sales Tax Producers ....................................._...........................______.................................__.______............134 iv I I I I I I I I I I í I I I I I I I I I I I I I 'I I I I I I I I I [¡ ,(,,'):'(:. ;".~:('¡¡r¡,'·': ·'1. :'+~.; "/-/f~I.'!:;i'\',;:'~ hi ìT'i: i:\-.I\!rV,i.I.',;:, (:u:);!f .t;,.,.. J:" Honorable Mayor and Membcrs of the City Council Presented with this transmittal is the City of Dublin Comprehensive Annual Financial Report (CAFR) for the year ended June 30, 2004. The information in this Comprehensive Annual Financial Report is prepared in accordance with Generally Accepted Accounting Principles (GAAP) as established by the Governmental Accounting Standards Board (GASB) and includes the report prepared by the City's independent ccrtificd public accountants. The responsibility for the accuracy and fairness of this report rests with the City. This repol1 has been formatted to comply with the new financial rcporting model developed by Governmental Accounting Standards Board (GASB) Statement 34 and includes the following: . Government-wide financial statements designed to provide readers with a broad overview of the City in a manner similar to a private sector business, including a statement of net asscts and statement of activities. It is important to note the fonowing regarding these statements: o The Statement of Net Assets and Statement of Activities represent a comhination of all of the City's funds, including the City's Generall'und and othcr Special Revenue and Capital Projects fonds which are restricted in nature. Jnfornlation on individual funds can stilJ be found in the combining statements contained in the CAFR. o The amount reported as "unrestricted" in the net assct scction On the statement of net assets has been designated for several General Fund projects previously authorized by Council, as discussed in additional detail in the notes to the financial statements, in addition to funds previously designated for building and equipment replacement (accounted for in the City's lntemal Service Funds). o The amount reported as "invested in capital assets" in the net asset section on the statement of net assets represents the portion of fixed assets to be depreciated over the remaining life of the assets and is not available for funding of additional City projects. o The amount reported as "infrastructure" only represents additions for the last thn,e Fiscal Years to the City's infrastructure base, which includes road and park improvements. As one ofthe bigh priority goals adopted by Council for Fiscal Year 2004.2005, Staff is planning to perfonn a complete inventory of the City's infrastructure dating back to the City's incorporation in 1982, which once complete wilJ replace the amount reported for infrastructure in the finaneials. I I I I I . To assist with an individual's review of the City's financial statements, a narrative section called the Management's Discussion and Analysis (MDA) has been added. The MDA n."P0rts on the financial highlights of the City and provides additional analysis on the variances and trends reported as part of the financial statements. In addition. ¡hc MDA discloses significant items affecting the financial condition of the City. ,^J0;:'~ C:)C\'~' -;'325) " ~,¡j,v :'·.!k$'I81..>,:~¡ ;\J?,. l)~><: C';;\, ¡'_~'I}~II~d: J:::\~Hi(j::;U f,)'::~I~-¡'I.):'ìn\:.J¡ C:::I~l·f;6U:~:¡ E~',:cJ!·)f]·)'I\c Ue\j[.~I()p!'(¡¡:~n( H:,1:j'(;ôf/) H¡'¡Q'I~';~ f~:3:';,d~:\·j)n cl,,:¡:'H:; '{i(ltk~;/E!l~:,¡i~:¡:;e~'i~'q '3,',::::·..138:'\>:',: ' :~'::..,¡,:\\': ~,. 1.:'C,I:"in'l'..:'lilj' Hí'·\("JI:':(.:~" ~~:<,:¡"ni:'.dl'! . POlice ~<r:I..ß6~;\\ ¡:'18rlr.i~"ln.'CCJci,':\ F:nrCirC;;':)'iTI;':',p; wn<v,:"¡'::: ~~h:¡1 :,n,.:.: :;·'¡:SD~)çl'i(n G3~H':.¡:)~:'O FI!'¡'o' Pi~)\it:..:·\llon Bul"e¡:',I.I f::::'¡:)-6600 r!('l1i:,: '.'I Olï F;"eG)'c{e¡)' f$'(','>;·~· v _/II~'!le of Proiect Fire Stations 17 and 18 Widening of Dublin Boulevard Freeway Undeæ."ss~.~.r:gject,__.."._ San Ramon Road Frceway Interchange _1~Jprovements Tassajara Road Frccway IntL'Tchangc l!!,provements . '^'~"~_ Emerald Glen Park Phase II -.......- Bray Connll0n~~eighhorhood Park Downtown Improvements ....- ....~. Senior Center ---. ....... --'..--'-' Fallon Road Freeway Interchange J!!'Eovements Expected COJ]pletiop.DateJlY:F:IS.~.!II.xea':_n Completed in 2003-2004 Completed in 2003:200~.__ ._._._....___....._.. Completed in 2003-2004 2004-2005 I I I I I I I I I I I I I I ECONOMIC CONDITION AND OTJTLOOK The City of Dublin is located at the interseetiol1 of Interstates 580 and 680 approximately 35 miles east of Sal1 Fral1ciscn. The City has a wide range of housing types available to meet the demands of val'ious employers throughout the region. Thc City has a large retail hase which serves local residents as well as those in surrounding communities. The largest employers inc1ude: public agencies such as the County of Alameda and the Duhlin Unified School District; corporate offices such as Franklin Resources, CalPinc, Micro D""tal Laboratories, Pacilie Bell, Supcrgc'1J and Sybase; retailers such as Best Buy, Circuit City, Good Guys, Home Expo Design, Mervyns, Regal IMAX 21 Screen Theater and Target; and auto dealers such as Crown Chcvrolet, Dublin Auto Centcr, Dublin Honda, Dublin Toyota, Ford of Dublin, SlOneridgc Motors, and Tri Valley PontiaclBuicldGMC. Rctail Sales are an obvious indicator of the general economic climatc. The General Fund Sales Tax in Fiscal Year 2003- 2004 increased by 5.7% over thc amount attributable to the prior ycar ($13.9 million in Fiscal Year 2003-2004 vs. $13.2 m;Uion j¡, Fiscal Ycar 2002"2003). A significant amount of the City's rctail sales are attributable to the sales ofncw and med automohiles, which increased oVCr thc amount œported for the prior year. Thc City also cxperienced increased sales in other retail sectnrs, including the City's Hacienda Crossings Shopping Center. The future cconomic outlook for the City is geared towards enhancing the City's existing economic base, while seeking opportunities for expansion and adding diversity to the current retail hase. There is the ahility to accommodate si~'Üificant new dcvelopment projects m the City's Eastern Dublin Specific Plan Area, as evidenced by several dcvelopment agrccments entered into with the Alameda County Surplus Property Authority and the deve10pers for Dublin Ranch during the past few fiscal years. The City has also initiated a number of actions to enhance the City's Downtown with the approval of the AMB/Legacy project. The economic outlook for the City of Dublin for Fiscal Ycar 2004-2005 continucs to bc impacted by the downturn in thc State economy. As a result, thc City has reduced its estimated rcvenucs in some of its major revenue categories for Fiscal Ycar 2004-2005, thc OnC exception being property taxes, due primarily to the continued residential growth occurring in the eastern part ofthc City. The City anticipates that there will be sufficient reserves to cover any revenue shorttalls. MAJOR INITIATIVES The City of Dublin is an active and vihrant community, with a municipal government that is proactive and prepared to respond to changes which arC occulTing. Each year the City Council adopts Goals and Ohjectives for the upcoming year and evaluates the progress achicved on the goals previously established. The City's Goals and Objectives program is the process by which the City Council fommlates major initiatives for the City. In Fiscal Ycar 2003-2004, the City hegan or continued work on several capital projecb, including thc following: ---... ~,.~"~-~._-'.',- ._.~_'··"·',W,_. 2004-2005 - ..- ..- I I I -I I --~,- ... ",".. 2004-2005 2004-2005 2004-2005 2004-2005 ....----,.--- ..~- 2005-2006 --'...',',",""-'-'...'¿" .--....-. _u .-- ~,,--'-',~,-~'- The market for new housing of all types continued to increase during Fiscal Year 2003-2004, with pcnnits issucd for 778 new residential units, an increase of 27% from the previous Fiscal Year. The valuation of"thcse ncw residential units was estimated to be $243 million, adding to the City's taxahle assessed value for Fiscal Ycar 2004-2005. Non residential activity decreased during Fiscal Year 2003-2004. vi I I I I I I I I I I I I I I I I I I I ACCOUNTING SYSTEM ANlJ BUlJGETARY CONTROL Note I in the Basic Financial Statements provides a detailed explanation of the signitícant accounting policies. 111 developing and evaluating the City's accounting system, eonsitkration is given to the adequacy of controls. Internal accounting conh'ols are designed to provide reasonable assurance regarding' safeguarding of assets against loss, accuracy and reliability of accounting data, and adherence to prescribed policies. The concept of reasonable aSSurance recognizes that the cost of a control should not exceed benefits likcly to be derived and that the evaluation of costs and beneííts require estimates and judgn1ents by management. The City Manager develops and presents a budget for approval by the City Council on an annual basis. The budget includcs appropriations for both operating programs and capital improvement projects. The budget is approved by budget activity based upon the id~-nti[¡ed funding sources. Tlie adopted accounting procedures authorize the City Manager to make budget adjustments between line items which are within the same Department and/or t.o authorize rransters ¡¡-om tlie Contingent Reserve. ExpenditUl'es may not exceed budgeted appropriations at the departmental level without City Council approval, excepl as provided for in tlie City Council resolution adopting the budget DEBT ADMINISTRATION The City has no outstanding General Obligation debt However, the City does administer funds for debt issued pursuant to the 1915 In1provement Act for the Dublin Boulevard Extension Assessment District The total amount of assessment dcbl outstanding at June 30, 2004 is $1,452,000. This amount is repayabk from property assessments levied on properties benefiting trom lhe improvements, and the City has no legal, cunting~'TIl or moral obligation for the repayment oflhis dcbt. Revenues collected were sunIcient to finance al1 required debt service expenditures for the year ending June 30, 2004. There were no material delinquent assessment revenues at year end. RISK MANAGEMENT The City of Dublin is a member of ABAG PI ~AN Corporation. This is a public agency pool providing liability insurance coverage to many Bay Area cities. The coverage Jim it for Fiscal Year 2003-2004 was $10 million pet· occurrence for general liability claims, which does not COVer damage resulting ¡¡'om an earthquake. The City of Duhlin has selected a $50,000 deductible. The pool also provides property insurance coverage with a $5,000 deductible, except for vehicle losses, which carry a $10,000 deductible. The pool purchases the required employee bonds from a commercial surety company. In accordance witb GASB 10, the City established a liability of $137,210 for claim deductibles. This includes a provision for losses which may be "incutTed but not reported" (lBNR). The actual cost for liability claims paid by the City for Fiscal Y car 2003 -2004 was $54,247. CASH MANAGEMENT Cash temporarily idle during the year was invested in accordance with adopted investment policies. The City's yield on all of its investments as of .June 30, 2004 was 2.826'Yo. As of June 30, 2004, the City's portfolio of Federal Sccurity investments had an average weighted mahlrity of 3.2 years. 1n addition, the City has sutÌlcient investments in the Slate's Local Agency InveshTIent Fund (LAlF) and money markct accounts, which offer same day liquidity. The City has positioned its cash needs to allow it to hold all securities to matnrity. On a quarterly basis the City Council is provided with a report On investment activity. The investment strategy emphasizes thc safety of the portfolio and liquidity (0 match anticipated cash flow needs. The portion of the portfolio containing U.s. Notes and Agency Obligations does not include any repurchase agreements. INDEPENDENT AUDIT Each year thc City of Dublin obtains an independent annual audit of the City's financial records. The infom1ation presented includes a rcvicw of op~')"alions and changes in financial position. This report includes the Auditor's unqualified opinion on the City's combined financial statements. AWARDS The Government Finance Officers' Association (GFOA) has recognized the City of Dublin for its Comprehensive Annual financial Report covering the period ending JUIte 30, 2003. A copy of the award from this entity is included in this r~"p0rt. This award represents the fourteenth consecutive year that the City's report was recognized by the GFOA. In order to be reeogniz.ed, the City was required to produce an easily readable and etlicicntly organized report. The report must also meet the standard tor generally accepted accounting principles and legal requirements. vii ACKNOWLEDGMENTS Among the responsibilities assigned to the Adnrinistrative Services Department are the functions associated with Finance. It is especially appropriate to recognize the efforts of Administrative Analyst Lisa Hisatomi, Finance Technicians Lynn Hanington, Katie Mooney and Diane Stanley and Office Assistants Wanda Oppenheim and Rebecca Roberts in preparing this report. The City is fortunate to have these dedicated staff members who devoted extensive timc and energy in preparing such a comprehensive report. The City has had its financial reports recognized by GFOA for many years, which is a significant accomplishment, since this task is often undertaken only by larger organizations. Staff also appreciates the professional effort expended by the independent auditors of Caporicci & Larson, Certified Public Accountants, in the preparation of the financial statements. The City Council is recognized for its continued support and encouragement Staff intends for the report to be a source of pride and accomplishment; representing excellence in financial reporting and exemplifying the high priority given to the provision of quality services. Sincerely, Fred W. Marsh Finance Manager ~ (:;~ ~ Carole A. Perry Administrative Services Director vÎÎi I I I I I I I I I I I I I I I I I I I ...... - - - <=>'- ~ ~y~~~~~y~"~ "",' I: I I I I I I I I I I I I I I ~ I I ~ I I Certificate of Achievement for Excellence in Financial Reporting Presented to City of Dublin, California For its Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2003 A Certificate of Achievement for Exe.lI.nee in Financial RcpOJiing is pTesented by the Government Finance Officers Association of the United State< and Canada to govermncnt units and public employee reÖTement systems whose comprehensive aJlliual financial roports (CAFRs) achieve tho highest standards in governmcI1t accounting and [mancial reporting. ~ President fl#r/~ Executive Director tX CITY OF DUBLIN PRINCIPAL OFFICERS June 30, 2004 Mayor J anct Lockhart Vice Mayor George Zika Councilmember Tony Oravetz ADMINISTRATION PERSONNEL City Manager Assistant City Manager Administrative Services Director City Attorney City Clerk Chief of Police Puhlic Works Director Community Development Director Parks & Community Scrviccs Director Fire Chief x Councilmember Clalldia McCormick I I I I I I I I I I I I I I í » I I I Councilmember Tim Sbnmti Richard Ambrose Joni Paltillo Carole Perry Elizabeth Silver Kay Kcck Gary Thuman Melissa Morton Eddie Peahody Diane Lowart Bill McCammon I I I I I: I I I I I I I I I I I I I I l- e::: « ;¡: C,) ..J « z o I- « !::::! z « (!) e::: o z ::¡ aD ::I o LL o 1:: C,) .: :is = c ... o I/) - ¡;; <II "C .¡¡¡ & ë'3 !:: :J o U >. == u >. >.<11 _I: .- .... 0° - ::( <:: 0).2 <:: II) .- '" <::-- c:E ..!!!E CLO o .... cv 0) '" I: '" 2 >. - o .Y U)-º ill c ill - ,,> U "" '" :>. üO .~ Æ ü U WOE 10 c 8 w ""'.,_n ~ <:: = c: E II) 0 E <l> .- u II) o ._ .w oc:Ë O/J<l>E (/ (/) 0 Æ___J O/J"'¡;; "t::o <l> « 'W OJ- '" '" E'- ~~E <l> == E I:¡O 00 ë ~ .... 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"" 8 N ¡p xii I I I I il I I I I I I I I I I I I I I T"i.~· page inrentionally left blank. I I I I I I I I I I I I I I I I· I I I IC&L Caporicci & Larson CerNßed Public Accountants INDEPENDENT AUDITORS' REPORT To the Honorable Mayor and Members of the City Council of the City of Dublin Dublin, California We have audited the accompanying financial statements of governmental a(tivities, each major fund, and the aggregate remaining fond information of the City of Dublin, California (City), as of and for the year ended Jone 30, 2004, which rolle(tively comprise the City's basic fimillcial statements as listed in the table of content8. These financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these basic financial statements based on our aodit. We conducted oor audit in accordance with generally accepted auditing standards in the United States and the standards appli(able 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 assuranœ about whether the basic financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amount8 and disclosures in the basi( finandal statements. An audit also inclodes assessing the accounting prindples used and significant e8timates made by management, as well as evaluating the overall basic financial statement presentation. We believe that our audit provides a reasonable basis fur our opinion. In our opinioo, such ba,ic financial statements referred to above prŒent fairly, in all material respects, the financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City as of June 30, 2004, and the respective (hanges in financial position and cash flows, where applicable, thereof for the year then ended in conformity with generally accepted a(counting principles in the United States. As described in Note 4 to the basic financial statements, the City has elected in accordance with Governmental Accounting Standards Board Statement No. 34 to defer recording and reporting of its major general infrash'ucture assets acquired prior to fiscal year 2001-2002. Recording and reporting by the City of these major general infrash'ucture assets is required by fis(al year 2005-2006. In accordance with Government Auditing Standards, we have also issued our report dated October 11,2004, on our consideration of the City's internal control over financial reporting and on OUr tests of its compliance with certain pmvisicms of laws, regulations, contracts, and grants. That report is an integral part of an audit performed in accord,mce with Government Auditing Standards ,md should be read in conjunction with this report in considering the results of our audit. The a(wmpanying Required Supplementary Information, sucl, as management's discussion and analysis, budgetary (omparison information and other information as listed in the table of content, are not a required part of the basic financial 8tatements but are ,upplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which wnsi8ted "roll Pt'CC 1-'h: (877) 862-2200 Toll F~e Fax: cR(Ú> 43(i-0927 SaawnCl;I.to SJb:i. DHJ(D 777 Canl1u.~ Ctlr'tjr'ljl)rl~ Rd., S.uilC 200 60u "8" SU~~l,Suitc IVUO SaCL'affie=nto, Ca1:U'o¡'I'Lia 9~M2~ San Diego. Callfurnla 9210 J Ol.'k:land IHO (;TatldAvl.:.,SLJitl:: 1365 uak1and, Califomja 91612 Oi'art~ CI:IlI.nty ~184-(J Alrway Avenue (.l1~t.. M~s,a. California 926£6 To the Honorable Mayor and Members of the City Council of the City of DubJin Dublin, California Page 2 principally of inquires of management regarding the methods of measurement lmd presentation of the Required Supplementary Information. However, we did not audit the information and express no opinion on it. Our audit waS conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's basic financial statements. The accompanying supplementary information is presented for purpose of additional analysis and is not a required part of the basic financial statements. The supplementary information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated in all materiaJ respects in relation to the basic financial statem"'nts taken as a whole. The introductory section and statistical tables have not been subjected to the auditing procedures applied in the audit of the basic financial statements and accordingly, we express no opinion on them. ~~'1~ Oakland, California November 24, 2004 2 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30, 2004 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, 2004. Please read this overview in conjunction with the accompanying letter of transmittal and the accompanying basic financial statements. FINANCIAL HIGHLIGHTS o During Fiscal Year 2003·04, the City's net assets, representing the difference between total assets and total liabilities, increased by $22.9 million to $168.5 million from $145.6 million in Fiscal Year 2002-03. The increase primarily resulted from higher than expected General Fund revenues and lower than expected General Fund expenditures, and the receipt of impact fees due to new development occurring within the City to be used to build two new fire stations and fund future improvements to the City's infrastructure, including its parks and streets. o Of the total net assets, $80.1 million represents its investments in capital assets, $37.5 represenl.;. net assets restricted by outside agencies and state regulations for specific purposes and $50.9 million of unrestricted net assets may be used to meet the government's ongoing obligations to its citizens and creditors. o As discussed in the notes to the financial statements, much of the $50.9 million of unrestricted net assets includes the unreserved portion of General Fund balance which has either been designated for future equipment replacement or that has been designated by Council for use on several future projects and to cover economic uncertainties. This represents an Increase of $.5 million over Fiscal Year 2002-03. o Total revenues from all sources were $58.7 million and total expenditures for all City programs were $35.8 million. o For Fiscal Year 2003"04, the City had no long term debt outstanding at June 30, 2004. o As of June 30, 2004, the City's governmental funds reported combined ending fund balances of $80.2 million, a Increase of $2.7 million in comparison with the prior year. The increase in combined ending fund balances is primarily attributable to higher than expected General Fund revenues and lower than expected General Fund expenditures, and the receipt of impact fees due to new development occurring within the City. o The unreserved portion of fund balance in the City's General Fund balance decreased to $42.7 million As discussed in the notes to the financial statements, the entire amount has been designated by Council for use on several future projects and to cover economic uncertainties. o During Fiscal Year 2003-04, the General Fund revenues exceeded its expenditures by $661,892. o Actual Revenues in the General Fund were over its final budget by $1.4 million primarily due to larger than expected collections from sales taxes and building permits. o Actual expenditures were under its final budget by $3.5 million largely due to capital projects being carried over to Fiscal Year 2004-05 and lower than expected use of contract personnel in the Planning and Building divisions. OVERVIEW OF THE FINANCIAL STATEMENTS This discussion and analysis is intended to serve as an introduction to the City's basic financial statements, which are comprised of three components: o Government-wide financial statements - These include the Statement of Net Assets and Statement of Activities. These statements provide information about the activities of the City as a whole and about the overall financial condition of the City in a manner similar to a private-sector business. These statements are described in more detail in a subsequent section in this MDA and can be found on pages 22·23 of this report. 3 CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30, 2004 . Fund financial statements - These statements provide additional information about the City's major funds, including how services were financed in the short term and fund balances available for financing future projects. These statements are described in more detail in a subsequent section of this MDA and can be found on pages 25-36 of this report. . Notes to the Financial Statements - The notes provide additional detail that is essential to a full understanding of the information provided in the government-wide and fund financial statements. The notes Can be found on pages 37-59 of this report. A. Government-Wide Financial Statements These statements include all assets and liabilities of the City using the accrual basis of accounting, which is similar to the accounting used by most private sector companies. All current year's revenues and expenses are accounted for regardless of when the cash is paid or received. These statements report the City's net assets and changes in them. Net assets, the difference between assets and liabilities, are one way to measure the City's financial position. Over time, increases or decreases in net assets are indicators of whether the financial condition of the City is improving or deteriorating. However, it is also important to consider other non-financial factors, such as changes in the City's property tax and sales tax bases or in the condition of the City's infrastructure (I.e. parks and streets), to accurately assess the overall health of the City. These statements present information about the City's activities, all of 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. B. Fund Financial Statements These statements provide more detailed information about the City's major funds. A fund is a grouping of related accounts that is used to maintain control over reSOurces that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds. Governmental funds Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The City maintains thirty one individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General fund and for all of the City's Capital Project Funds, as they either qualify or the City requested them to be classified as major funds due to their significance in the financing of new capital assets. Data from the other twenty six governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements elsewhere in this report. 4 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30, 2004 The City adopts an annual appropriated budget for each of ils governmental funds. A budgetary comparison statement has been provided for each governmental fund to demonstrate compliance with this budget. Proprietary funds The City maintains one type of proprietary fund. Internal service funds are an accounting device used to accumulate and allocate costs internally among the City's various functions and to build up reserves for future replacement of capital assets. The City uses internal service funds to account for its fleet of vehicles, computer systems, other furniture and equipment, retiree health employee costs and contributions. and improvements to City buildings. Because these services solely benefit the governmental function, they have been included within governmental activities in the government-wide financial statements. Proprietary fund financial statements provide the same type of information as the government-wide financial statements, only in more detail. All four internal service funds are combined into a single, aggregated presentation in the proprietary fund financial statements. Individual fund data for the internal service funds is provided in the form of combining statements elsewhere in this report. Fiduciary Funds The City acts as a trustee, or fiduciary, in collecting assessments and remitting bond payments for one Assessment District. The City has no legal, contingent or moral obligation for the repayment of this debt and merely ensures that the assets received are used for their Intended purposes. Therefore, these fiduciary activities are excluded from the City's fund financial statements because these assets cannot be used to finance operations. The activity for this fund, however, is provided for in a separate combining statement contained elsewhere in this report. C. Notes to the Financial Statements The notes provide additional detail that is essential to a full understanding of the information provided in the government-wide and fund financial statements. The notes can be found on pages 37-59 of this report. D. Other Information 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. Required information can be found on pages 61-64 of this report. The combining statements referred to earlier in connection with non"major governmental funds and internal service funds are presented immediately following the required supplementary information on pensions. Combining and individual fund statements and schedules can be found on pages 65-122 ofthis report. GOVERNMENT-WIDE FINANCIAL ANALYSIS The City's combined net assets for the Fiscal Year ended June 30, 2004 was $168.5 million. A significant portion of the City's net assets ($80.1 million or 48%) reflects its investment in capital assets (e.g. land, infrastructure, buildings, equipment). The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. An additional portion of the City's net assets ($37.5 million or 22%) represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net assets ($50.9 million or 30%) may be used to meet the government's ongoing obligations to citizens and creditors. It should be noted, however, that the entire balance has previously been designated by the City Council for future projects, including replacement of buildings and equipment, as described in additional detail in the notes to the financials. 5 50,944,311 $168,450146 50,859414 $145,540,041 I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30, 2004 Table 1 below summarizes the City's net assets. TABLE 1 Governmental Activities June 30 200 June 30 Total Liabilities Governmental activities. The charts below summarize major expenditure program categories, program revenues used to fund specific expenditure programs, and general City revenues available for funding all City programs. TABLE 2 Expenses Pro!1ram Revenues Net Cost of Actlvltv Governmental Activities 2003-2004 2002-2003 2003-2004 2002-2003 2003-2004 2002-2003 General Government $ 6,288,136 $ 6.135344 $ 2603 $ 553145 $ 6,285,533 $ 5,582,199 Public Safety 17,135,716 14.026216 1 252 129 1661815 15883587 12 364,401 Community Development 6,113,171 5,334,646 6135027 5182361 (21856 152,285 Highways and Streets 939,260 15,187,872 9103.665 13751 247 (8 164405 1,436,625 Health and Welfare 3,755,564 1,349,228 3 746,021 4439547 9543 (3090319 Culture and Leisure 1,603,494 4,730,430 7,487,144 4.186700 (5 883 650\ 543 730 Totals $ 35,835,341 $ 45,763 736 $ 27 726 589 $ 29774815 $ 8 108752 $ 16988921 Net CO$t of Actlvltv General Revenues: 2003-2004 2002-2003 Prooertv taxes $ 11 422 308 $ 10783414 Sales tax 13940263 13193407 Vehicle License Fee 1682152 2 072 440 Other taxes 2 865 225 1 774042 Interoovernmental 146841 Unrestricted interest eaminos 799,008 1710903 Other 163 060 398413 Total General Revenues $ 31018857 $ 30 649 702 Increase in Net Assets $ 22910106 $ 13660781 Net Assets" Beqinninq of Year $ 145540041 $ 131,879 260 Prior Period Adiustment Net Assets - End of Year $ 168,460,146 $ 146,640041 6 I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30, 2004 ----.. Revenues by Source (In Millions) Total Revenues $58.7 Million Othe r Taxes " 7.8% $4.1\ Charges for ____ Services - 20.6% $12.1 Other Revenues· 1.9% $1.1 Sales Tax - 23.7% $13.9 ---- Property Taxes - 19.4%$11.4 ~ Cont/Grants - 26.6% $1 5.6 Expenses by Program (In Millions) Total Expenses - $35.8 Million Health and Welfare - 10.5% $3.8 General ____-Government ~ .---.---- 17.5%$6.3 Community Development --_,_ 17.1%$8.1 Culture Leisure 4.5% $1.6 Highways and Streets - 2.6%------ $0.9 Public Safety 47.8%$17.1 ..-....-."..- 7 CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30, 2004 Governmental activities increased the City's net assets by $22.9 million, thereby accounting for all of the total growth in the net assets of the City. Key elements of this increase are as follows: · The City collected Over $11.4 million in development impact fees in its Governmental funds, which will be used to fund future streets and parks improvements and the completion of construction of two new fire stations. · During Fiscal Year 2003-2004, the City transferred $973,611 worth of capital assets to its Equipment and Building Replacement Internal Service Funds. These had all previously been fully expensed in its General and Capital Project funds. This transfer was recognized as a contribution revenue in the Equipment and Building Replacement Internal Service Funds. · The City continued to see significant increases in General Fund property taxes collected resulting from the significant amount of commercial and retail growth that occurred during the last three fiscal years and large increases in housing prices. · Total General Fund sales taxes and property taxes increased from the prior year as the City continued to experience strong retail saies from its automotive dealers and at its retail shopping centers and continued to experience residential growth. FINANCIAL ANALYSIS OF THE GOVERNMENT'S FUNDS As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. As of June 30, 2004. the City's governmental funds reported combined ending fund balances of $80.2 million, an increase of $2.7 million over the prior year. Of the increase, $3.0 million occurred in the City's Public Facility Fee Capital Projects Fund and $661,892 in the City's General Fund. These increases were partially offset by a $453,987 decrease in the Traffic Impact Fees Capital Projects Fund. a $98,963 decrease in the Park Dedication Fees Capital Projects Fund and a $735,641 decrease in the Fire Impact Fees Capital Projects Fund. As discussed in the notes to the financial statements, the entire amount of the General Fund has been designated by Council for uSe on several future projects and to cover economic uncertainties. GENERAL FUND The General Fund is the Chief operating fund of the City. At the end of Fiscal Year 2003-04, unreserved fund balance of the General Fund was $42.7 million and total fund baiance of the General Fund was $44.6 million. Ag discussed in Note 7 to the financial statements, the entire amount of unreserved fund balance has been designated by Council for use on several future projects and to COver economic uncertainties. During Fiscal Year 2003-04, the General Fund revenues exceeded its expenditures by $661,892. This includes $613,524 in carryovers for various capital projects and other one time expenditures. The primary reasons for the variance was due to higher than expected sales tax collections and higher than expected building permit revenue related to new development projects occurring within the City, and lower than anticipated operating and CIP expenditures. Significant changes in Revenues and Expenditures that affected this increase in General Fund balance are as follows: 8 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30,2004 a. Revenue Highlights Property Taxes increased over the prior year due to new residential and commercial units (mostly in Eastern Dublin) constructed in Fiscal Year 2002-03 and included for the first time on the 2003-04 lax roll. In addition, there continued to be a general overall increase in property values in the City due primarily to a strong housing market The City's taxable assessed value increased from $4.3 billion in Fiscal Year 2002-03 to $4.9 billion in Fiscal Year 2003-04, a 14% increase over the prior Fiscal Year. The taxable assessed value on the property in Eastern Dublin will continue to increase as new residential and commercial units are constructed by developers. Taxes Other Than Property increased from the prior year primarily due to an increase in sales tax collections experienced at the City's major retail outlets including Hacienda Crossings. Licenses and Permits increased from the prior year due to additional revenue received from the issuance of building permits for new residential and commercial units. Revenue from Use of Money and Property decreased from the prior year primarily due to a temporary decline in market value on some of the City's longer term investments in U.S. securities. The City intends to hold these investments until their maturity and therefore receive the full amounts invested at their maturities. Intergovernmental Revenues - State are lower than in the prior year due to the State withholding three months of Vehicle License Fee backfill payments to the City due to State budget problems. Other Revenues showed an increase over the previous year due to reimbursements received from other entities for expenditures incurred on the undergrounding of utilities on a portion of Dublin Boulevard. b. Expense Highlights General Government expenditures increased over the prior year due to increased personnel costs in all divisions (including full year funding of positions added mid way in Fiscal Year 2002-03), in addition to the transfer of the GIS Coordinator from the Engineering division to the Administrative Services Department. Public Safety costs increased over the prior year due to increased Police expenditures resulting from a cost of living adjustment from Alameda County for contract Police personnel. Fire expenditures also increased due to additional staffing needed for the opening of a new fire station and a cost of living adjustment from the Alameda County Fire Department for existing contract fire personnel. Highways and Streets expenditures increased over the prior year due to increased personnel costs in Public Works Administration division and higher costs incurred for street tree and landscape maintenance. Culture and leisure Services expenditures increased Over the prior year due to higher expenditures for park maintenance and contract library services and additional expenditures incurred for Parks and Community Services programs and other special events, including the annual St. patrick's Day and Day on the Gien celebrations and concerts at the Civic Center. Community Development expenditures increased over the prior year due to additional time spent by consultants on various development projects and contract building inspection services for new residential units, primarily in the Eastern Dublin Specific Plan area. The time spent on development projects are reimbursed by the project applicant and offset by revenue. Capital Outlay increased from Fiscal Year 2002-03, primarily due to expenditures incurred on the construction of a new senior center. Due to the one-time nature of capital projects, fluctuations from year to year are common. 9 CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30,2004 c. Budgetary Highlights Over the course of the year, the City Council revised the City budget with adjustments that fall into one of the following three categories: · Changes made to adjust appropriations for capital project carryovers from the prior year · Changes made in the mid year report to adjust revenues and augment current year appropriations · Other revenue and expenditure adjustments approved after the original budget was adopted. Budget adjustments approved by Council during Fiscal Year 2003-2004 included the following: · Reduction in Vehicle License Fees to be received from the State · Construction of Emerald Glen Fire Station · Capital project carryover of unspent budgeted funds from Fiscal Year 2002-03 · Construction of Traffic Signals at Central Parkway and T assajara Road · Civic Center Building Remediation repair expenditures After taking into account these adjustments, actual expenditures were $3.5 million lower than final budget amounts. Of the total, $2.4 million related to either capital projects whose final costs were lower than were originally anticipated or were carried over to Fiscal Year 2004-05. Most of the other budget to actual variances were due to either delays in development occurring within the City (some of which will be carried over to Fiscal Year 2004-05) or department labor savings created by vacant positions. CAPITAL PROJECTS FUNDS The City's Capital Project Funds (all of which the City classifies as Major funds), consist of the Traffic Impact Fees, Public Facilities Fees, Park Dedication Fees and Fire Impact Fees funds. These funds account for fees received from developers due to the impacts placed on the City resulting from their new developments. The funds received from developers are used to pay for required infrastructure, including additional streets, parks, public and fire station facilities. At the end of Fiscal Year 2003-04, total fund balance of these funds was $22.5 miilion, as listed below: Fund Name .~.. ,...--- ---. Trafffic 1m act Fees Public Facilities Fee .-- -. Park Dedication Fees -..........--- Fire 1m act Fees Total n_.'.._'".. As discussed in the notes to the financial statements, the entire amount has been designated by Council for use on various capital projects in the City's five year capital improvement program. During Fiscal Year 2003-04, the Capital Project funds revenues exceeded their expenditures by $1.7 million, as listed below: Fund Name Tr<l!!!i~Jlllpact Fees Public Facilities Fee ~'---~", .-..,,", .-'.,-'.'-"" Park Dedication Fees Fire 1m act Fees Total 1O I I I I I I I I I I I I I I I I I I I I I I i I I I I I I I I I I I I I I I CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30, 2004 The capital project fund revenues collected during the year and existing fund balances were used to pay for the following major capital projects during Fiscal Year 2003-04 Traffic Impact Fees · Design of the Fallon Road Interchange and construction of two interchanges · Construction for the Widening of Dublin Boulevard · Design of Improvements to Dougherty Road Pubiic Facilities Fees · Construction of Emerald Glen Park Phase II · Construction of Bray Commons Neighborhood Park Fire Impact Fees · Construction of two new fire stations PROPRIETARY FUNDS The City's proprietary funds (i.e. internal service funds, consisting of the Equipment Replacement, Fire Equipment and Station Replacement, Building Replacement and Retiree Health Care Internal Service Funds) provide the same type of information found in the government-wide financial statements, but in more detail. Unrestricted net assets in the City's proprietary funds at June 30, 2004 totaied $8.2 million, as listed below: Fund Name ",..--..,,,..,...-.. .Eqt,Jlp!!1~.DtRe lacement Fire Equipment and Station Re lacement Buildin Re lacement -- .~,=""',.,. Retiree Health Care --..-..----.... Total unrestrict....d Net Assets $1,604,153 1,417,263 ~_,347,012 3,848,696 $8,21,I.124 -----,.,...'-"..,.....- ','~-- Council has designated the entire $8.2 million for future replacement of equipment. vehicles and building improvements. The total growth in net assets for Fiscal Year 2003-04 was $466,333, as listed below: Fund Name __n___... E ui ment Re lacement Fire Equipment and Station Re lacement '"' ,.'. ....-.---.-- Buildin Re lacement Retiree Health Care Total Capital Asset and Debt Admlnlstrstlon Chan e in Net Assets $ 192,.ª47.. ....- 39,352 1}~,oill 365,185 466,331.. Capital assets. The City's investment in capital assets for its governmental activities as of June 30, 2004, amounts to $80.1 million (net of accumulated depreciation). This investment in capital assets includes land and streets right of way, buiidings, park and roadway improvements, vehicles and other equipment and construction in progress, as summarized in the schedule bellow. During the current fiscal year, the City's investment in capital assets increased by approximately $19.1 million (31.3%). 11 CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30, 2004 TABLE 3 Governmental Activities June 30 2004 June 30 2003 10,204,002 9,775002 5,558,024 3,170,886 9,352,584 9,326,319 13,547,539 1,723,074 39,211,917 34,340,710 2,176,644 2,680,651 $80050710 $61 016,642 Major capital asset events during the current fiscal year included the projects listed below: TABLE 4 , qapital Project _ Emerald Glen Park Fire Station -..".... . -....--..-------.".--. Fallon Fire Station , -ºol¡yntown Improvement 1m lementation Emerald Glen Park - Phase II ----... ..-----.-..----".". .... Bra Commons Nei hborhood Park Senior Center 1-580 San Ramon Road Int~~b;¡nge , 1-580 Tassáara Road Interchan e 1-580 Fallon Road Interchan e ..~ .. .-.....'--..' .'- . ..- Dublin Boulevard Widening - Villa e Parkwa to Sierra Court Fiscal Year 2003-2004 Ex enditures $1.254,014 $90,715 ,,- '.' $260,595 ~~,248,060 $1 ,¿6Õ-,~726 $1,637,713 $1,798,788 $1,131,i70 $465,265 $1,601.073 Status of Pro ect COIT1P(et~_. ,._ Com lete In Pro ress JI1_£,rQ9'!:~s~,,______., In Pro ress In Pro reSs ,In progress I n Pro ress I n Pro ress I n Progress ...-.".--..--..., Additional information on the City's capital assets Can be found in Note 4 of this report Long-term debt At the end of Fiscal Year 2003-04, the City had no debt outstanding. State statutes limit the amount of general obligation debt a governmental entity may issue to 15 percent of its total assessed valuation. The current debt limitation for the City is $741.3 million. Additional information on long-term debt is located In note 5 of this report Economic Factors ilnd Next Year's Budgets Given the state of the local economy and the amount of deficits being forecast as part of the State's budget, caution was exercised in developing the City's budget for Fiscal Year 2004-05. The City's adopted budget for Fiscal Year 2004·05 for all funds was $92.2 million, which includes an appropriation of $45.1 million for operations, $39.0 million for Capital Projects, a $45 million loan to a private developer for an affordable housing project and $3.6 million set aside to reserves. The amount budgeted for operations represents an increase of approximately 22% over Fiscal Year 2003-04 and is primarily due to projected increases in personnel costs, contract public safety services, continued consultant costs relating to new development occurring within the City, the continuation of some major capital projects from Fiscal Year 2003-2004 and the addition of several new capital projects. 12 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN Management's Discussion and Analysis (MDA) June 30, 2004 Major Capital Projects funded for Fiscal Year 2004-05 include work on the following capital projects: · Downtown Improvements · Completion of Bray Commons Neighborhood Park · Completion of Improvements to two freeway interchanges · Construction of Fallon Road Interchange · Completion of improvements to and purchase of land for Emerald Glen Community Park, Phase II · Completion of a new senior center · Park Play Area Renovations · Dublin Sports Grounds Renovation · Dougherty Road improvements · St. Patrick's Way - Regional Street to Golden Gate Drive · Completion of Dublin Boulevard Widening - Village Parkway to Sierra Court Primary funding sources for these projects include one time grants, impact fees received from new development and one time General Fund reserves set aside for these projects. Requests for Information This financial report is designed to provide a general overview of the financial position of the City for all those with an interest in the government's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the following address: City of Dublin, Finance Department, 100 Civic Plaza, Dublin, CA 94568. 13 14 I I I I I I I I I I I I I I I I I I I This page intentionally left blallk. I I I I I I I I I I I I I I I I I I I GOVERNMENT-WIDE FINANCIAL STATEMENTS 15 Unrestricted Total net asset. I I Governmenta 1 I Activiti~s I $ 99,624,742 I 3,807,161 613,401 7,362 I 128,256 104,180,922 I 10,204,002 I 5,558,024 <),352,584 13,992,954 I 47,410,39J 5,529,296 I (11,996,54] ) 80,050,7JO 184,231,632 I 12,015,384 I <)71,167 2,246,123 I 412,110 137,210 15,781,994 I 80,050,710 I 320,355 24,335,763 I 2,476,957 10,322,050 37,455,125 I 50,<)43,803 $ 168,449,638 I I City of Dublin Statement of Net Assets June 30, 2004 ASSETS Current assets: Cash and investments Accounts receivable Accrued mterest receivable Prepaids Other assets Tow I current a.ssets Noncurrent assets: Capital assets (non-depreciable): Land Streets right of way Construction in progress Capital assets ( depreciable): Jnfrastructure Buildings and improvenlt:~nts Machinery and equipment Less accunlulated depredation Total noncurrent assets Total assets UABILlTIES Current liabilities: Accounts payable Accrued wages Deposits payable Contract retention payable Liabilities insurance cJaims payable Total Habilities NET ASSETS Invested in capital assets Restricted for: Public safety Impact fee projects Highways and streets Health and welfare Total restricted Sc~ acc.ompanying Notes to Basic Financial StaLcmc=nLIIì. 16 I I I I I I I I I I I I I I I I I I I This page intentionally left blank. 17 City of Dublin Statement of Activities and Changes in Net Assets For the year ended June 30, 2004 Prog-ram Revenues Oper"ting Capital Charges for Contributions Contributions Expenses Services and Grants and Grants Governmental activities: Genera] g(JV~rnOlC{lt $ 6,288,645 $ 2,603 $ $ Public safety 17.135,716 851,864 124,577 275,688 Highways and streets 939,260 2,321,473 6,782;t 92 Health and welfare 3.755,564 ,558,930 114,S17 2,072,574 Culture and leisure 1,603,494 1,252,866 6.234,278 Community deve10pnwnt 6,1l3,17] 6,] 35,027 Total governmental activities $ 35,835,849 $ ]2,122,763 $ 239,094 $ 15,364,732 See accompl:mying Notes to Basiç Financial Statement..;;. 1R General revenues: Taxes: Property taxes Sales tax Vehide license fee Other Tota I taxes [nœrgovcrnmental MjsC':p.l1ancou.s Unrestricted investment earnings Total general revenues Change in net assets Net assets: Beginning of year End of year I I I I I I I I I I I I I I I I I I I I I I I Net (Hxp<=nse,) / Ikvenue aDd Changes in I Net Assels Total Program Governmental I Rcv(~nucs Activi tie, I $ 2,60:'\ $ (6,286,042) 1,252.129 (15,883,587) 9/103/665 8,164,405 I 3,746.021 (9,543) 7,487,144 5,88:'\,650 6,135,027 21,856 I $ 27,726,589 $ (8,109,260) I I $ 11,422,308 13,940,263 1,6H2,l52 I 2.865,225 29,909,948 I 146,841 163,060 799,008 I 31,018,857 22,909,597 I "145,540,041 I $ 168,449,638 I I I 19 20 I I I I I I I I I I I I I I I I I I I Tltis page ¡/tl</ttionally left blank. I I I I I I I I I I I I I I I I I I I FUND FINANCIAL STATEMENTS The City reports the following major goverrunental funds; The Gelleral Fund - is the goverrunent's primary operating fund. It accounts for all financial re80urceS of the City, except those required to be accounted for in another fund. The Traffic Impact Fees Capital Projects fund - is used to account for fees received from developer8 of properties, which can only be used for the design, development and construction of street projects within the City. The Public Facilities Fees Capital Project 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 faciliti~s within the City. The Park Dedication Fees Capital Projects Fund - is used to account for park dedication fees received in lieu of property from developers pursuant to the Quimby Act. The Fire Impact Fees Capital Projects Fund - is used to account for fees received from developers of properties, which can only be used for the design, development, and construction of fire capital expansion projects within the City. 21 22 I I Capital Projects fund, I Traffic Public I Impact Facilities General Fees Fees $ 52.717,679 $ 17,421,747 $ 6,371,718 I 2,251,295 800,313 613,401 I 160,055 7,362 ],829,213 I 128,256 $ 57,707,261 $ 18,222,060 $ 6,371,718 I $ 9,705,147 $ 832,R30 $ 5R,l96 I 971;167 2,246,123 49,956 66,836 251,793 I 137.210 13,109,603 899,666 309,989 I 1,896,575 17,322,394 6,061,729 I HI,119,298 32,581,785 I 44.597,658 17,322,394 6,061,729 I $ 57,707,2(;-) $ 18.222.060 $ 6.371,718 I I I I I City of Dublin Balance Sheet Governmental Funds June 30, 2004 ASSETS Cash and investments Accounts Teceivabl~ Accrued interest receivable DL1e fronl other fund, Prcpa.ids Advances to other fL1nds Other assets Total assets LIABILITIES AND FUND BALANCES Liabilities: Accounts payabte Accrued wages and other payron liabilities Depo,its payable Contract retention payable Liabilities insurance claims payable Due to other funds Advances from other funds Total liabilities Fund Balances: Re~erved Unreserved, designated reported in: General fund Unn:~seIVcd, unde-signated, reported in: General f L1nd Capital projects funds Total fund balances Total liabilities and fund balances S~e accompimying Noles to Bask Firwndal Stah:,rnents, I I I Capital Projects Funds I Park f.ïte Non-Major Dedication Impact G()vemrnental Fees Fees Funds Total I $ 951.974 $ $ 13,904,119 $ 91,367,237 18,234 725,131 3,794,973 I 613,401 160,055 7,362 I 1,829,213 128,256 $ 951.974 $ 18,234 $ 14,629,250 $ 97.900.497 I I $ 334 $ $ 1,366,308 $ 11,962.815 971.167 2,246.123 I 4",525 412,110 137,210 160,055 160,055 I 1,829,213 1,829,2B 334 1,829,213 1,569,888 :17,718,693 I 951,640 13,059,362 39,291,700 10,119,298 I 32,581,785 (1,810,979) (1,810,979) I 951,640 (1,810,979) 13,059.362 80,181,804 $ 95"1,974 $ 18,234 $ 14,629,250 $ 97,900,497 I I I I I 23 24 I I I I I I I I I I I I I I I I I I I Tltis puge i1lte1ltivtlully left blutlk. I I City of Dublin Reconciliation of the Governmental Funds Balance Sheet to the Govermnent-Wide Statement of Net Assets June 30, 2004 I I Fund Balances of Governmental Funds Amount.; reported fOT gover.rul'Lental activities in the statement of net asset~ are different because: I Capital assets used in governmental activities are not current finandal thcrefore are not reported in the Governmental Funds Balance Sheet. resourçcS. and I Non depreciable asset, (Land and construction in progress) Depreciable buildings, property, equipment and infrastructure, net Total capital assets I I Internal service funds arc used. by management to charge the cost of certain activiLies, such as asset replacement and retiree health care to individual funds. The asset. and liabilities of the internal service funds are included in Ihe Government-Wide State])lent "f Net Asset., I Net Assets of Governmental Activities I I I I I I I I I I See accompanyìng Notes to Basic Financial Statements. 25 $ 80,181,804 20,196,739 13,342,056 33,538,795 54,729,039 $ 168,449,638 City of Dublin I Statement of Revenues, Expenditures and Changes in Fund Balances I Governmental Funds For the year ended June 30, 2004 I Capital Projects Punds '{'rafflc Public I Impact Facilities General Pees Pees REVENUES: I l-'rop~rty taxe~ $ 11,316,703 $ $ Sa.les tax 13,940,263 Other taxes 2,741,105 I Int~rgovernmental 1,828,993 Licenses and perm.its 3,090,992 Charges for service 4,801.137 Interest 492,971 176,782 49,596 I Use 01 property 130,741 Fines and forfeitures 117,369 Developer fees 4,872,735 6,234,278 I Other reVenue 860,434 Special assessments T olal revenues 39,320,708 5,049,517 6,283,874 I EXPEN OITURES: Current: I General government 4,620,431 1,480,936 Pu bJjc salety 16,353,712 Highways and streets 1,532,007 Health and welfare 82,812 I CuJture and lelsure 5,098,102 Community development 6,342,720 Capital outlay: I General 1,163.181 Community improvement 718,086 Parks 1,831,349 136,169 3,308,611 I Streets 938,789 3,886,399 Total expenditures :18,681;189 5,503,504 3,308,611 REVENUES OVER (UNDER) EXPENDITURES 639,519 (453,987) 2,975,263 I OTHER FINANCING SOURCES (USES): Transfer jn 21,885 I Transler out (20) Total other financing sources (uses) 2·1,865 REVENUES AND OTHER FINANCING SOURCES OVER I (UNDER) EXPENDITURES AND OTHER FINANCING USES 661,384 (453,987) 2,975,26:1 FUND IJALANCES: Begiru1ing of year, as restated 43,936,274 17,776,381 3,086,466 I End of yea r $ 44,597,658 $ 17,322,394 $ 6,061,729 I See accompanying Notes to B.¡)sic Financial Statements. I 26 I I I Capital Project' ¡<unci, I Park Fire N(Jn~Major f)ed'i<.:atiOI} Irnpact Govcl'nu\cnta I Fees Fccs fund, Total I $ S $ 105,605 $ 11,422,308 357,442 14,297,7U5 I 2,741,105 3,113.174 4,942,167 3,090,992 988,833 5,789,970 I 9,126 129,259 857,734 130,741 154,784 272,153 I 275,688 2,072,573 13,455,274 291,662 1,152,096 593,201 593,201 I 9,126 275,688 7,806,533 58,745,446 I 3,600 88,914 6,193,881 868,789 17,222,501 540,799 2,072,806 I 3,679,448 3,762,260 5,U98,102 21,007 6,363,727 I 1,007,729 2,17U,910 16,027 734;113 I 108,089 41,572 5,425,790 2,220,690 7,045,878 108,089 1,011,329 7,477.246 56,089,968 I (98,963) (735,641) 329,287 2,655,478 I 20 21,905 (21,885) (21,905) (21,865) I (98,963) (735,641) 307,422 2.655,478 I 1,050,603 (1,075,338) 12,751,940 77,526,326 $ 951,640 $ (1,810,979) $ 13,059,362 $ 80,181,804 I I 27 City of Dublin Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Government-Wide Statement of Activities and Changes in Net Assets For the year ended June 30, 2004 Net Change in Fund nalance - Total Governmental Funds $ 2,655,478 AmolUlts reported for governmental activilies in the Statement of Activilies differs from the amounts n~pnrt~~d m th~~ Statement of Revenuesl Expendihlresl and Changes in Fund Balances bccau('ìC: Governmental fLmds report acquisition of capital assets as expendilures in various flmctions and in çapital outlay, However, in the Government-Wide Stab..~m(~nt t>f A(':tivibe5 and Changes in Net Assets, !:he cost of those assets is allocated over their estimated useful lives as depreçiaboTl. expense. This is the anwunt of capital ass.et., additions. recorded in the cunent period. TlUs amount excludes the intema! service ftmds capital asset additions of $3,214,439. 20,160,976 Depredation expense on capita! assets is reported in the Government-Wide Sta!cment of Activities and Changes in Ne! Asse!s, but it does not require !:he lIse of current financial re:,-;c.mTç(;~s. Therefore¡ depreciation is not reported a~ an expenditure in governmental funùs. This amoruÜ excludes !:he intema! service funds depreciation of $2,039,025. (173,190) !ntemal service funds are used by management to charge the costs of certain activities to individual funds. The net (expense) of the intemal service funds is reported with governn\ental activibe~. 466,333 Change in Net Assets of Governmental Activities $ 22,909,597 See acc.ompanying Notes to Basic Financial Statements, 28 I I I I I I I I I I I I I I I I I I I I City of Dublin I Statement of Net Assets Proprietary Funds I June 30, 2004 I I ASSETS I Current a:5set"i: Cash and investn1cJ1bì Account< receivable I Total cl,.Jrn~nt a~set<. Capital A_sets; I I.and Construction in progress Buildings and improvements I Machinery and equipnlent Less: accunlulaled deprcciatiun Total capital assets I Tot,] I as&ets LIABILITIES I Current liabilities: Accounts payable I TotalliabiHHes NET ASSETS I Invested in capital assets Umestricted I Total net assets I I I I I See accompanyinß Notes La Basic Financial StiJ.tements. 29 Govcr)lTJH~ntal Activities Internal ScrviÇ(;~ Funds $ $,257,505 12,188 8,269,693 6,842,037 2,019,588 43,619,117 4,979,882 (10,948,709) 46,511,915 54,781,608 52,569 521569 46,511,\115 8,217,124 $ 54,729,039 30 I I I Govenllncnta, I Activities Internal Service Funds I $ 1,690,763 I 18,207 1,708,970 I 415,817 I 2,039,025 2,454,842 (745,872) I 166,113 I 72,481 238,594 I (507,278) I 973,611 466,333 I 54,262.706 I $ 54,729.039 I I I I I City of Dublin Statement of Revenues, Expenses, and Changes in Net Assets Proprietary Funds For the year ended June 30, 2004 OPERATING REVENUES: Charges for ~crvices Other revenue Total operating revenues OPERATING EXPENSES: Supplies and servir:cs Depredation Total operating expense" Operating income (loss) NONOPERATING REVENUES: Gain on disposal of assets lntcrcst mcolne Tnta I nonoperating revenues Income (loss) before £ontributions Capital conh'ibutions Change in net assets NET ASSETS: Beginning of year End of year See accompanying Note~ to Basic Financial Statelnc.nts. I I I I I I I I I I I I I I I I I I I City of Dublin Statement of Cash Flows Proprieta~ Funds For the year ended June 30,2004 Governmental AcHviHes Internal Service Funds CASH FLOWS FROM OI'ERATING ACTIVITIES: Receipt from customers Payments to suppliers Other Nel cash provided (used) by operating activities $ 1,684,805 (409,973) 18,207 "1,293,(ß9 CASH FLOWS FROM CAPIT AI. AND RELATED FINANCING ACTIVITIES: Capital contributions Capilal assel deletions Acquisition of capital assets Net cash provided (used) by capital and related financing activities 97:\,611 2,095,245 (3,214,439) (145,583) CASH FLOWS FROM INVESTING ACTIVITIES: interest received 72,481 72,481 Net cash provided (used) by investing activities Net increase (decrease) in cash and <ash equivalents 1.219,937 CASH AND CASH EQUIVALENTS: Beginning of year End of year 7,037,568 $ 8,257,505 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES: Operating income (loss) Adjustments to reconcile operating income (loss) to net cash provided (used) by operatinz activities: Depredation Net effect of changes in: Accounls receivable Accounts payable Net ca.sh pmvided (used) by operating activities $ (745,872) 2,039,025 (5,958) 5,844 S 1,293,039 See accorn panying Notes to Hasic Financial SLatcl'nents. 31 I I I Agency Fund I $ 198,608 I 172,779 $ 371,387 I $ 371,387 I $ 371,387 I I I I I I I I I I I I City of Dublin Statement of Fiduciary Net Assets Fiduciary Fund June 30,2004 ASSETS Cash and inve~tment.... R17strided ça~h and investmcnts Total assets LIABILITIES Due to bondholders Total liabilities See accompanyînr; Notes to Basic Financial Statements. 32 I I I I I I I I I I I I I I I I I I I City of Dublin Index to Notes to Basic Financial Statements For the year ended June 30,2004 r-,1..£~ 1. Sunmmry of Significant Accounting Policies ............................._._..___.__..._..............__.._..........__...._...........36 2. Cash, Cash Equivalents and Investments.................................................................................................43 3. lnterf u nd 'It a nsactions ................................................................................................................................47 4 . Capital Assets...................... _...... _..... _. _.. _ _.. __ _ __. _.... _ _... _.............. _....... _.._ _ _ _ _ _.. _............. ._... _....._ _.. _... _................48 5. Special Assessment Dish-ict Debt (Non-Obligatory) ...............................................................................50 6. Joint Powers Agreements. ................ ................................................_.......................................___..._..._._......50 7. Fund Equity .............................______...__ ..._...._____......_...._..._.._____.._.....____________.._....._.. ..............__.._..._...._....._......50 8. Risk M,magemcnt.............................. ........................................................ ........... .........................___..___.......52 <¡. Pension Plan.................. ........... .............. ........ ..... ....... ................................ ............ ..... .......... ... ............... ......53 10. Comnúhnent and Contingent Liabilities ..................................................................................................54 11_ Deficit Fund Balance ............ ............ ....... ....... .............................. ......................... ................ ................ .......56 33 34 I I I I I I I I I I I I I I I I I I I This page intentionally left bt.",k. I I I I I I I I I I I I I I I I I I I NOTES TO BASIC FINANCIAL STATEMENTS 35 City of Dublin Notes to Basic Financial Statements For the year ended June 30, 2004 1, SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 11", basic firumCÎlù statements of the City of Dublin, California, (City) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental agencies. The Governmental Accounting Standards Boards (GASE) is the accepted standard setting body for establishing r;overnmental accounlinr; and financial reporting principles. The more significant of the City's accounting policies are described below. A, Reporting E¡¡UtI} The City is a residential community with a signifiClmt regional commercial base, located in the Tri- Valley area of Alameda County, California at the crossroads of Interstate Freeways 580 and 680. The City was incorporated as a municipal corporation on February 1, 1982. The population at Janmuy 1, 2004, was 38,330, including prisoners housed at the Alameda County Sheriff's Department Santa Rita Jail and the Federal Corrcctiona.l Institute. The City operates under the Council-Manager form of goverrunent, with five elected Council members served by a fuII"time City Manager and staff. At June 30, 2004, the City's staff was comprised of 79 full- time employees who were responsible for City-provided serviçes. In addition, the City employs approximately 30-75 seasona.l recreation personnel. The City provides many traditional municipal services through contracts with both public and private agencies. Approximately 118 contract employees provide a variety of municipal services from City facilities. TIle basic finandal statements of the City include the financial activities of the City as well as the Dublin Information, ¡ne. (DIl). DIl is a separate legal entity, which assists in providing financing to the City. Dn is governed by the same governing board as the City plus the City Manager and Assistant City Manar;er and is dependent on the City for its cash flows. The financial activity of DIl is merged (termed 'blended') with that of the City and is accounted for in a special revenue fund. The ownership of assets previously owned by DII was transferred to the City as of February "I, "1999, in conjunction with the early retirement of the 1933 Certificates of Participation. B. Basis of ACCOIlIIti¡¡g and MellSllremmt FOCIIS The ac;c;ounts of the City are organized On the basis of funds, eac;h of whic;h is c:onsidered a separate ac;c;ounting entity. The operations of each fund are ac;c;ounted for with a separate Sel of self-balanc;ing ac;c;ounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate. Government resources are aIIoc;ated to and acc;ounted for in individual funds based upon the purposes for whic;h they are to be spent and the means by which spending activities are controlled. Government-Wide Financial Statements The City's Govermnent-Wide Financial Statements indude a Statement of Net Assets and a Statement of Activities and Changes in Net Assets_ These statements present summaries of Governmental Activities for the City. Fiduc:iary açtivities of the City are not included in these statements. 36 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of ACC(I1mting and Measurement Focus, Continued These statements are presented on an "economic resuurces" measurement focus and the accrual hasis of accounting. Accordingly, all of the City's assets ffi1d liabilities, including capital assets and infrastructure as well as long~term debt, arc included in the accompanying Statement of Net Assets. The Statement of Activities presents changes in net assets. Under the accrual hasis of accounting, revenues are recoplized in the period in which the liability is incurred. The Statement of Activities demonSlrates the degree to which the direct expenses of a given function are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function The types of programs revenues for the City are reported in three categories: 1) charges for services, 2) operating grants and contributions, and 3) capital grants and contributions. Charges for services include revenue from customers or applicants who purchase, use, or directly benefit from goods, services, or privilep;es provided by a given function. Grant and contributions include revenues restricted to meeting the operational or capital requirements of a particular function. Taxes and other items not properly included amonp; program revenue are reported instead as general revenue. Certain eli.minations have been made as prescribed by GASB Statement No. 34 in regards to interfund activities, payahles, and receivables. All internal balances in the Statement of Net Assets have been eliminated. Governmental Fund Financial Statements Governmental Fund Financial Statements include a Balance Sheet and a Statement of Revenues, Expenditures, and Changes in Fund Balances for all major govermnental funds and aggregated non- major funds. An accompanyinf, schedule is presented to reconcile and explain the differences in net assets as presented in these statements to tl1e net assets presented in the Government-Wide Financial Statements. The City has presented the Traffic Impact Fee Capital Projects Fund as major because it met the qualifications of GASB Statement No. 34. In addition, the City has elected to present the following funds as major because of their significance to the City as a whole: the Public Facilities Fees Capital Project' Fund, tl1e Park Dedication Fees Capital Projects Fund, and the Fire Impact Eees Capital Projects Fund. All governmenta.! funds are accounted for on a spending or "curreut financial resources" measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are generally included On tl1eir balance sheets. Their reported fund balance is their net current assets, which is considered only to be a measure of available spendable resources. Governmental fund operatinr; statements present a summary of sources and uSes of available spendable resources durmg a period by presenting mcreases and decreases in net current assets. Under modified accrual basis of accounting, revenues arc recognized in the accounting period in which they both become measurable and available to finance expenditures of the current period. Accordmgly, revenues are recorded when received in cash, except that revenues subject to accrual are property taxes, sales taxes, transient occupancy taxes, interest revenues, charges for services, and courts fmes (when measurable). Licenses, use of property, and permit revenues are not susceptible to accrual because they generally are not measurable until received m cash. 37 City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting ami Measurement Focus, Continued Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred, except for principal and interest on general long term obligations which are recognized when due. Because of their current financial resources focus, expenditures recognition for governmental fund types excludes amounts represented by non-current liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund expenditures or fund liabilities. The City reports the following major governmental funds: I11e General Fund - is the government's primary operating fund. It accounts for all financial resources of the City, except those required to be accounted for in another fund. 17æ Traffic Impact Fees Callital Pmiecls 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 Public Facilities Fees Capital Pwiect Fund - is used to account for impa.ct fees received from developers of properties, which can only be used for the design, development, and construction of new public facilities within the City. The Park Dedication Fees (-"pital Proiects Fund - is used to a.ccount for park dedication fees received in lieu of property from developers pursuant to the Quimby Act. Tile Fire Imvact Fees Capital Proi(cts 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. }'roprietary Fund Financial Statements Proprietary Fund Financial Statements include a Statement of Net Assets, a Statement of Revenues, Expenses, and Changes in Net Assets, and a Statement of Cash Flows. All proprietary funds are accounted for using the accrual basis of accounting and the U economic resources" measurement focus. Their revenues are recognized when they a.re earned, and their expenses are recognized when they arc incurred_ All liabilities associated with their activity are also included On the Statement of Net Assets. The City reports the following proprietary fm1ds: Internal Service runds are used to account for the financing of goods or services provided by department or agency to other department or agencies of the City on a cost-reimbursement basis. The City uses internal service funds to account for asset replacement and post-retirement health Care activities. 38 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Because the principal users of the internal services are the City's governmental activities, the financial information of the intemal services funds are consolidated into the governmental achvities colurrm when presented in the government-wide financial statements_ To the extent possible, the cost of these services is reported in the appropriate functional activity_ Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services in connection with a proprietary fund's principal ongoing operations. The principal operahng revenues of the City's proprietary funds are charges to customers for services. Operating expenses include the cost of services, adminish·ative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Fiduciary Fund Financial Statements Fiduciary Fund Financial Statements include a Statement of Net Assets. The fiduciary funds are used to report assets held in a trustee or agency capacity for others and therefore are not available to support City programs. Since these assets are being held for the benefit of a third party, these funds are not incorporated into the government-wide statements. The City's oruy fiduciary fund is an agency fund, which uses the accrual basis of accounting to account for amounts held for debt service on the Dublin Boulevard Extension Special Assessment District. The Agency fund is custodial in nature (assets equal liabilities) and therefore does not 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. C. Capital Assets, Depreciation, and Long-Tenn Liabilities Capital assets, which include buildings, machinery and equipment, and infrastructure assets (roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, lighting systems, and park improvements), are reported in the 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 $2,500 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. 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 usefu.l 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. 39 City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued C. Capital Assets, Depreciation, and Long-Term Lial>ilities, Continued Depreciation of capital assets is charged as an expense against operations each year and the total amount of depreciation taken over the years, called accumulated depreciation, is reported on the Statement of Net Assets of the government-wide financial statements as a reduction in the book value of the capital assets. The City has assigned the useful lives listed below to capital assets. Building and in'provements Machinery and equipment Infrastructure Street, 20-38 Years 3-15 Years 30 Years GASB Statement No. 34 requires the City to report and depreciate new infrastructure assets effective with the beginning of the current year. Infrastructure assets include roads, bridges, sidewalks, curbs gutters, plU'k improvements, traffic signals, etc. Neither their historical cost nOr related depreciation has historically been reported in the financial statements. The retroactive reporting of infrastructure is subject to an extended implementa tion period and is first effective for fiscal years emting 2006. The City has deferred implementation of the retroactive reporting of infrastructure and plans to do so during the fiscal year ending June 30, 2005. D, 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. t:. Cash and In¡'estmmts GASB Statement No. 31, "Accounting Imd Finnncinll\eporting for Certain Inoestments and Externnl Pools", requires governmental entities to report certain investments at fair value in the balance sheet and recognize the corresponding change in the fair value of investlnents in the year in which the change occurred. In accordance with GASB Statement No. 31, the City has adjusted certain investments to fair value (when material). Proprietary fund type cash and investments are used in the preparation of the statement of cash flows as investment' are not allocated to specific funds. Each of these funds' aHocation of pooled cash and investments is considered cash and cash equivalents. 40 I I I I I I I I I I I I , I I I I I I I I I I I I I I I I I I I I I I I I I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 1. SUMMARY OF SIGNIFICANT ACCOUNTJNG POLICIES, Continucd F. Deferred Compensation Plan City employees ma.y defcr it portion of their compensation under a City sponsored deferred compensation plan created in accordance with Internal Revenue Code Section 457. Under this plan, participants arc 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 GASH Statement No. 32, the City revised the plan to no longer make the funds available to the City's generaJ creditors and acçordingly, the City does not report the assets in the financial statements. G. Property Tax Alameda County assesses properties and bills, collects, ,md distributes property taxes to the City. The County remits the entire amount paid and handles all delinquencies. The City receives proportionate shares of prior year collections including retaining interest and penalties. Secured and unsecured property taxes are levied on January 1 of the preceding fiscal year. H. Post Employment Health Care Benefits The City provides certain health care benefits for 24 retirees as required under a contract signed with PERS. All former employees who retire with the City under PERS are eligible for these benefits. The cost of retiree health care benefits is recognized as expenditures as premiums are paid. For the year ended June 30,2004 those costs totaled $119,lH9. I. Net Assets Government.Wide F'inancial Statements In the Government-Wide Financial Statements, net assets arc classified in the following categories: Invested in Q¡pital Assets, Net of Related Debt - This amount consists of capital assets net of accumulated depreciation and reduced by outstanding debt that attributed to the acquisition, construcLion, or improvement of the assets. Restricted Net Assets - This amount is restricted by external creditors, grantors, contributors, or laws or regulations of other governments. Unrestrict~d Net Ass~ts - This amount is all net assets that do not meet the definition of "invested in capital assets, net of related debt" or "restricted net assets." 41 City of Dublin Notes to Basic Financial Statements, Continued For the Y'"ar ended June 30,2004 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued 1. Net Assets, Continued Fund Financial Statements 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. Portions of a fund's balance may be reserved or designated for future expenditures. Reserves are restrictions placed by outside entities, such as other governments, which restrict the expenditures of the reserved funds to the purpose intmded by the entity whieh provided the funds. The City carmot modify or remove these restrictions Or reServes. In addition, the City Council may reserve funds by resolution to set aside Ílmds which are not available for current appropriation Or expenditure. Designations are imposed by City Council to reflect future spending plans or concerns about the availability of future resources. Designations may be modified, amended or removed by City Council action. The City had the following reserves and designations: Resenled lOr prepaid expenditures is the portion of fund balance set aside to indicate that these items do not represent available, spendable resources even thoup;h they are a component of assets. REserved lOr !'erne/en/ endowment is the portion of fund balance to be retained. This represents funds transferred by tIle Dublin Cemetery Association, when the City acquired the cemetery. Re5l'nJl'd lOr lonr-term advances is the portion of fund balance set aside to indicate tha.t these items do not represent available, spendable resOurces even though tIley are a component of assets. ResenJl'd for rect/din!: pro!:rams is tIle portion of fund balance set aside for revenue received from the Alameda County Waste Management Authority to be used solely for recycling. l~esenJed ¡or flUb/;e safety prormms represents the net amounts available from grant and otIler sources restricled to use on public safety programs. l~esenJl'd lOr street ma;ntelUmce and con5tmciion represents amounts available and restricted to use on projects related to street maintenance and construction. REserved for health and welfare tJrormms includes amounts restricted for use on programs including housing, noise mitigation, and garbage services. Resenled fOr capital improvement proiects rewe5l'nts amounts collected from developers lo be spent on specific projects impacted by the developmmt. Des;!:nated fOr economic uncertain II/ is the portion of fund balance to be used in the event of economic uncertainty. Desirnaled for other represents the amount of resources set aside to fund Or partially fund the various projects. The amount designated for authorized expenditures represents the amount not specifically identified with an individual project. 42 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I ! I I I I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued J. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. In addition, estimates affect the reported amount of expenses. Actual results could differ from these estimates and assumptions. 2. CASH, CASH EQUIVALENTS AND INVESTMENTS TIle City maintains a cash and investment pool, which includes cash balances and authorized investments of all funds, which the City Treasurer invests to enhance interest earnings. The pooled interest earned is allocated to the funds based on average montlùy cash and investment balances in these funds. A. Cash Deposits The carrying amount of the City's cash deposits were $(251,458) at June 30, 2004. Bank balances before reconciling items were $12,009 at that date, the total amount of which was insured or collateralized with securities held by the pledging financial institutions in the City's name as discussed below. The California Government Code requires California banks and savings and loan associations to secure the City's cash deposits by pledging securities as collateral. This Code states that collateral pledged in. this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. 11mB, collateral for cash deposits is considered to be held in the City's name. The market value of pledged securities must equal at least 110% of the City's cash deposit.. California law also allows institutiorL' to seCure City deposits by pledging fitst trnst deed mortgage notes having a value of 150% of lhe City's total cash deposits. The City may waive collateral requiretn€nts for cash deposits, which are fuJly insured up to $100,000 per depositor by the Feder,ù Deposit Insurance Corporation. The City, however, has not waived the collateralizatÍon requitements. The City follows the praetice of pooling cash and investments of aJl funds, except for funds required to be held by fiscal agents under the provisions of bond indentures. Interest ineome earned on pooled cash and investinents is allocated on an accounting period basis to the various funds based On the period-end cash and investment balances. Interest income from cash and investments with fiscal agents is credited directly to the related fund. 43 City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 2. CASH, CASH EQUIVALENTS AND INVESTMENTS, Continued B. Tnvestm"lIts Under the provisions of the City's investment polky, and in accordance with Section 5~601 of the Ca];foroia Government Code, the City is authorized to invest or deposit in the following investments: · Bankers' Acceptances · Commercial paper · I .0<=31 A!~ency Investment Fund Negotiable certificates of deposit Repurchase agreements Mutual Funds Securities of the Federal goverrunent or its agenci", In accordance with GASH Statement No. 31, A(:(:(lIlnting and ¡ Ùumcilll."el'orting j(>r Certa.in Inve,tments andfor Externa/lnvestments l'o(lls, inv<'"tments should 1,,-, st,ted at fair value. The City «'Ported its irlVestment:1 at fair value. For the year ended June 30, 2004, the unrealized loss on investments amounted to $533,811. Interest and investlnent eaminr;s before recognition of unrealized loss was $1,46~,454 as of June ~O, 2004. C. Credit R is" Governmental Accounting Standards Board Statement No.3 r"'luires that deposits and investments be classified by credit risk. Classification of deposits and investments by credit risk is as follows: Deposits Calero/v J - Insured or collateraliz<,d with se<:urities held by the City or by its agcnt in the City's namc. (:aterorlI2 - Collateralized with securities held by the pledginr; finandal institution's trust department Or agcnt in the City's name. Caleronl .J - Uninsured and unregistered with securities held by the counterparty or by its trust departrncnt or agent, but not in thc City's name. Investments Cateeorl/1 - Insured and registered or securities held by the City Or by its agent in the City's name. Cak~"nl 2 - Uninsured and unregistered with securities held by the counterparty's trust department or agent in the City's name. Caleronl .3 ~ Uninsurcd and umegistered with securities hcld by the counterparly or by it, trust department or agent. but not in the City', namc. lnveslmel1ls Not S"biecf 1(1 Cate¡,oriza.tion" Investments in the California Local Agency Investment Fund (LAIF) are not categoriz<,d. as GASB Statement No. 3 docs not require categorizaHon of investment pools rnanaged by another government. C~Ttaln fi~çal agent investments are not categorizcd because the underlyinr; assets are open-ended mutual funds. Guaranteed investment contracts are not cater;orized because they are direct contra<'tual investments and are not sccuritics. All such investment, are not required to be categorized under interpretive guidelines issued by the GASB. 44 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 2. CASH, CASH EQUIVALENTS AND INVESTMENTS, Continued V. Summary of Cash aIId Investmrnts The following is a summary of pooled cash and investments, including restricted cash and investments at June 30,2004: Government-Wide: Statem~nt of Net Assets Governmental Activities Fiduciar)' Funds Statement of Net Assets Totid S 198,608 $ 99,823,350 172,779 172,779 $ 371.387 $ 99,996,129 Cash and investments $ 99,624.742 Restricted. cash and inv~5tn'lent5 Tutal $ 99,624.742 Deposits and investments held by the City at June 30, 2004 are surrunarized below: Not Required to be Fair Ca legory 1 Ca tegorized Value City Treasury: Depositg; Cash On hand $ $ 1,625 $ 1,625 Deposits will, banks (251,458) (251,45R) Total deposits (251,458) l,625 (249,R33) Investments: Federal Home I .oan Bank 38,R2R,6R8 3S,S2S,688 Federal Home Loan Mortgage Corporation 22,207,535 22,207,535 Federalliome Loan Mortgage Association 6,473,920 6,473,920 Governn\ent Secu ritics 2,311 ,351 2,311,351 Mutual Funds 2,647;187 2,647,187 CaHfornia Local Agency Investment Fund 27,604,502 27,604,502 Total învesbnents 72,46S.6S1 27,604,502 1 00,073,1 R3 Total City Treasury 72,217.223 27,606,127 99,823,350 Cash with fiscal agents 172,779 172,779 Total City and fiscal agent cash and ¡nvestments $ 72.217,221 $ 27,77S,906 $ 99,996,129 The City had no Category 2 and 3 cash and investments, 45 City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 2, CASH, CASH EQUIVALENTS AND INVESTMENTS, Continued E. IIlvestments ill I.ocal Agency JIlveshl1tmt F,md The City valued its investments in LAIF as of June 30, 2004, at amortized cost which approximates the fair value. If the fair value was to be calculated it would be calculated by multiplying the account balance with LAIF times a fair value factor of 0.998384177 which is deterrrrined by LAIF. This fair value factor was deterrrrined by dividing all LAIF participants' total aggregate amortized cost by total aggregate fair value. The City's investments with Local Agency Investment Funds (LAIF) at June 30, 2004, included a portion of the pooled funds invested in Structured Notes and Asset-Backed Securities. TI1ese inveshnents included the following; . Structured Notes are debt securities (other than asset-backed securities) whose cash flow characteristics (coupon rate, redemption amount, or stated maturity) depend upon one or more indices and/ or that have embedded forwards or options. . Asset-Backed Securities, the bulk of which are mortgage-backed securities, entitle their purchasers to receive a share of the cash flows from a pool of assets such as principal and interest repayments from a pool of mortgages (such as CMO) or credit card receivables. As of June 30, 2004, the City had $27,604,502 invested in LAIF, which had invested 1.603% of the pool investment funds in Structured Notes and Asset-Backed Securities. F. Summary of ¡IlVeSITIl"tlts to MatJlrit1j Investments held in tl1e City Treasury grouped by maturity date at June 30, 2004, are shown below: Maturity Current to one year One to two years 'j'wu to tim~e years Three to four years Four to five years Total $ 35.593.971 1,998,280 25,988,113 l2.4l8,950 24.073,869 $ loo,U73,183 46 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 3. JNTERFUND TRANSACTIONS Due Tol From During the normal course of business the General Fund may advance to other funds to cover deficit cash balanœs caused by expenditures for reimbursement type grants. During the fiscal year advlmœs were made to the Commurúty Development Block Grant Fund, the Intermodal Surface Transportation Efficiency Fund, and the Transportation for Clean Air Fund in the amounts of $34,842, $114,641, and $10,572 respectively. When the reimbursement is received, normally shortly after year end, the interÍlmd liability is liquidated. The following inter fund balances existed at June 3D, 2004 Due from other funds Due to other funds Nün Major hOlds Total Major Fund General Fund Tot.l $ 160,055 $ 160,055 $ 160,055 $ 160,055 Advances TolFrom During the 2003-2004 Fiscal Year the General Fund advanœd funds to the Fire Impact Fees Capital Projects fund to aid in the financing of fire station construction projects. The advanœ will be repaid through future revenues to the Fire Impact Fees Fund. Interest accrues, on the advanœ, at a rate equal to the City's return on its investment portfolio. The following interfund balances existed at June 30, 2004: Advances to other funds Advance. from other funds Major FUM General Fund Total Major Furul: Ere Impact Fees 1.829.213 $ $ 1,829,213 Total $ l,S29.213 $ 1,829,213 47 City of Dublin Notes to Basic Financial Statements, Continued I'or the year ended June 30, 2004 3. INTERFUNU TRANSAC'TIONS, Continued Frrllls(ers In/Oul Interfund transfers for the year ended June 30, 2004 were as follows: Transfers in Mç:¡jor "Fund Non Major Transfers out: Cenera'! Fund Punt! Tota] Major hmd Ceneral Fund $ $ 20 S 20 ., Non Major Funds 2),8B5 21,885 Total $ 21,885 $ 20 $ 21,905 Transfers In to the General Fund in the amount of 521,885 are reimbursements to the General Fund from the Vehicle Abatement Fund for vehicle abatement services, from the COBG fund for administrative costs, and from the Measure 0 fund for collection of delinquent drainaf,e maintenance assessments, in the amounts of $15,242, $6,600 and $43 respectively. In addition, there was a Transfers Out from the General Fund to the DII Fund in the amount of $20 to cover bi-annual OII fi¡¡nr, fees 4. CAPITAL ASSETS A. GoveT1lment~ Wide Financial Statt!t7Imts In accordance with GASB Statement No. 34, the City has reported al1 capital assets including infrastructure in the Government-Wide Statement of Net Assets. The City has elected to use the basic approach as defined by GASB Statement No. 34 for all infrastructures reporting, whereby depreciation expense and accumulated depreciation has been recorded. The City has elected to use the deferral period for the retroactive reporting of infrastructure values (infrasti....cture constructed or acquired prior to July 1, 2(01) as provided for by GASB Statement No. 34. Capital assets include land, buildings, and equipment used in City operations. Infrastructure includes roads, bridges, curbs, sidewalks, drainage systems, street and traffic lir,hts, park improvements and other improvements used by all citizens. 48 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 4. CAPITAL ASSETS, Continued A. Government-Wide Financial Statemmts, Continued Thc following is a surrunary of capital assets for governmenwl activities: Balance Balance July 1 June 30 2003 Addition Del~hún T ranslers 2004 Capital a»eh;, not being depreciated: Land $ 9,775,002 $ 429,000 $ $ $ 10,204,002 Streels righ t of way 3,170,336 2,387,133 .1,558/024 Construction in progres¡:; 9,326,319 8,663,657 (3.637,392) 9,352.58·1 Total capital ¡:'s.9cls, not being depreciated 22,272,207 11,479,795 (8,637,392) 25,114.610 CapItal asset,. being depreciated: Infrastructure 1,881,577 8,]67,623 3,943,754 13,992,954 Buildings and improvement8 41,~15,999 3,496,000 (2,095,246) 4.693,633 47,410.391 Equipment 5,466.166 231,997 (163,368) 5,529,295 Total capital asset:'>, bei.nr; depredated 48,663.742 11,895,620 (2,264,114) 8,637,392 66,932,640 Less ac.cumulated depreciation for: Infrastructure (153,503) (286,912) (445,415) Building; and improvements (6,975,288) (1,389,299) 166.]J~ (8,198.474) Equipment (2,785.515) (736,004) ]68.868 (3,352,651) Total accumulated depreciation (9,919.306) (2,412,215) 334.981 (11,996,540) Total capil.al assets being depreciated, net 38,744,436 9,483,405 (1,929,133) 8,637,392 54,9%,100 Governmental activilies capital as,lìets¡ net $ 61,016,643 $ 20,%3,200 $ (1,929,133) $ $ 80,050,710 Depreciation expense was charged to functions/ programs uf thc primary government as follows: General government Public safety Highways and streets Health and welfare Culture and leisure CommuniLy development Tol.al d~prccialion expense - governmental activities $ 1,331,242 24B,765 47,417 9,177 212,880 562,734 $ 2,412,215 B. Fund FÍ1!allcial Statements The fund govcrruncntal financial swlemenls do not present general govcrnmcnt capital assets but arc shown in the Reconciliation of the GoverrunentaI Funds Balance Shcet to the Government-Widc Slalemenl of Net Assds. 49 City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 5. SPECIAL ASSESSMENT DISTRICT DEBT (NON-OBLIGATORY) The Dublin Boulevard Extension Special Assessmenl Districl, formed within City limits, had outstanding debt with a balance of $1,452,000 al June 30, 2004. I'roœeds of the debt were used to finance improvements within District boundaries. The Cily has no legal, contingent or moral obligation for the repayment of this debt ¡Uld acts solely as the collecting and paying agent for the Dish·ict. Activities of the District are reported in the Dublin Boulevard Extension Assessment District Agency Fund. 6. JOINT POWERS AGREEMENTS The City participates in joinl ventures wilh other municipal entilies through Joint Powers Agreements (JP As) established under the Joinl Exercise of Powers Act of the Stale of CaIHomia. lo;nl Ventures ·fhe Cilies 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 '111 animal shelter facilily on county property. Certificates of Participation were issued to construct the facility. Under the agreement the entities will share in the debt service costs of the project based upon their use of the animal sheller. The original total principal portion of the scheduled debt is $4,523,877. TI1e City's share for the 2003-2004 fiscal year based upon the statistics of live animals handled in the shelter in calendar year 2004, was $39,088 representing 12.318 percent of the debt service requirements. In addition, $159,866 was paid for the City's share of operating expenses. The City has not recorded an equity interest for the animal shelter agreement. As noted above the ongoing 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. 7. FUND EQUITY In the Fund Financial Statements, reserves and designalions segregate portions of fund balance that arc either not available or have been earmarked for specific purposes. The various reServes and designations are established by actions of the Cily Council and Management and can be increased, reduœd or eliminated by similar actions. 50 I I I I I I I I I I I I I I I I I I I I I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 I I 7, FUND EQUITY, Continued In Governmental Funds, fund reservations and designations arc prcsented as . component of fund balance as follows: Traffic l'HbHc Park Pjn~ GI:':n.~wl Impact facilities DedkahoTl hnp¡,),ct Nnn~Majol' Fund Fees Fees Fees Fees funds Reserved: l.Jrepaid expenditures $ 7,362 $ $ $ $ $ Cemet~ry ~ndowment hO,OOO Long-term advance8 ] ,R29,2U Re<~y~~I'¡ng pwgfiJTn~ 361,855 PubJiI.' ~afl:'ty prugram~ 320,355 Street m,~int~1~¡']T'1('E~ amI cOTIstrm:tioTl 2;151.732 Health and welfaæ programs 9,697,1':.15 Capital improvement projl:!(ts 17,322,3~4 6,061,729 95"1/')LiO 25,225 Total reserved 1.896,575 17,~22,394 f\Oó1,729 951,640 "I :\.059/,62 Untc!;icrvcd, dc,:>ip;:nated: 'Eff.)fiomic uI'II..~eTtainly 2.719,!XJ8 Downtuwn open sp<}çc 2,329,00] Senior center 2,481,075 ClF farryOVt'IS 611..524 C),pital iiTlpTnvl~rt'lclH 976,690 Affnrdable hnw;ing 1.000,000 Tota] urtre~eT\led designated 10,11 9,298 Unrc~eTVed, un.designated 32,,,81,785 (1,8JO,979) Tutal fUnd equity $ 44,597,658 $ 17,322.394 $ 6,061,729 $ 95J.MO $ (1,810,979) $ 13,039.362 I I I I I I I I I I I I I I 31 I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 8. RISK MANAGEMENT A. Risk Pool The City participates in the ABAG PLAN Corporation, which covers general liability claims in an amount up to $10,000,000 and properly insurance coverage for membcrs up to $500,000,000. The City has a deductible or uninsured liability for gcneralliability of up to $50,000 per claim. The deductible for properly claims is $5,000 per occurrence, excluding auto claims, which have a $10,000 deductible. Once the City's deductible is met ABAG PLAN becomes responsible for payment of all claims up to the limit. During the fiscal year ended June 30, 2004, the City contributed $16Y,280 for current year coverage. The ABAG PLAN is r,o\lerned by a board consistinr, of representatives from member tlumicipalilies. The board controls the operalion.s of the ABAG PLAN including selection of management and approval of operating budgets, independent of any itúluence by member municipalities beyond their representation on the Board. The City's çontributions to the ABAG Pl.AN for liability covera¡~e are based on a formula which considers the ratio of the City's payroll to the total payrolls of all entities participating in the same layer of each program, in each program year's loss history and population_ Actual surpluses or losses are shared according to a formula developed from overall loss costs and spread to member entities on a percenlage basis after a retrospecLive raLing. Th~re have been no ~ignifica,nt reduc.:lions in any of the City'~ areaS of i.ns.urance coverðge and 00 setLlement amount') have exce~ded coverage. Audited financial information for the ABAG PLAN can be obtained from ABAG PLAN, P.O. Box 2050, Oakland, CA Y4604~2050. I I I I I I I I I I I B. Liabilily for Uninsured Claims The GASH requires municipalities to record their liability for uninsured claims and reflect the current ·1 portion of this liability as an expenditure in their financial statements. As discussed, above, the City has coverage for such dal1:ns¡ but it has retained th~ ri$k for the deductible, or uninsured portion of these I claims in the ABAG PLAN. GASB Statement No. 10, "Financial Reporting for Risk Financing and Related Insurance Issues" require that this amount be separatcly identified and reçorded as a liability. The City's liability for uninsured claims, limited to ~eneralliability claims as discussed above, indudes I a provision for in<:urred but not reported losses. This amount wa, estimated based on claims experience. Since incorporation in 1982, the City has never had a 1088, which exceeded the amount of tI18Uranœ coverage. The claim liability for the current and prior years are as follows: I J \1n. 30. 2004 June 30, 200ò Begjnni.ng baJÐnce Provision tor claíms Claims paid Ending balance s 137,210 S 87,87] (87,871 ) 137,210 $ 137,210 25,S95 (25,895) $ 137,2111 I I The City has obtained a workers' compensation insurance polic:y from the State Compensation I h18urance Fund, which has no deduçtible_ 52 I I I I I I I I I I I I I I I I I I I I City of Dublin Notes to Basic FinanÔal Statements, Continued For the year ended June 30, 2004 9. PENSION PLAN A. PERS Plan f)escriptilm - 111e City's defined benefit pension plan, (Miscellaneous Plan), provides retirement and disability benefits, annual çost-of-1ivinr, adjustments, and death benefits to plan members and beneficiaries. The Miscellaneous Plan is part of the Publiç Agency portion of the California Publiç Employees Retirement System (CaIPERS), an agent multiple-employer plan adnUnistered by CaJPERS, which acts as a ÇOmmon investment and administrative agent for participating public employers within the State of Californi.a. A menu of benefit provisions as well as other requirements are established by State statutes within the Public Employees' Retirement Law. The City seleds optional benefit provisions from the benefit menu by contraçt with CalPERS and adopts those benefits through local ordil1lU1çe or resolution. CalPERS issues a separate mmprehensive annual finandal report. Copies of the CaIPERS's annual financial report may be obtained from the CaIPERS Executive Office, 400 P Street Sacramento, California f.J5H'14, FUl1din\! Polin¡ - Active plan members in the Misçellaneous Plan arc requited to contribute 7 percent of their annual covered salary, which the City pays on behalf of the employees in the amount of $404,668. The City is required to contribute the actuarialIy determined remaining amounts necessary to fund the benefits for its members. The actuarial methods and assumptions used are those adopted by the Cal PERS Board of Admirústration. The required employer contribution rate for fisçal year 2003-2004 waS 6.059% for misçellaneous employees. (The City has only miscellaneous employees.) The mnh'ibution requirements of the plan members are established by State statute and the employer mntribution rate is established and may be amended by CalPERS. Annual Pension Cost - For fisçaI year 2003-2004, the City's annual pension mst was $350,269 and was equal to the City's required and actual contributions. The required çontribution for fisml year 2003- 2004 was determined as part of the June 30, 2001, actuarial valuation using the entry age normal açtuaria] mst method with the conhibutions determined as a percent of pay, The açtuarial assumptions induded (a) 8.25 percent investment rate of return (net of administrative expenses); (b) projeçted salary inçreases that vary by duration of service ranging from 3.75 percent to 14.20 percent for miscdlaneous members; and (c) 0.25 percent çost-of-living adjustment. Both (a) and (b) iru:lude an inflation component of 3.5 perçent. The açtuarial value of Miscellaneous Plan's assets was determined using a teçhnique that smoothes the effeçt of short-term volatility in the market value of investments over a two to five year period dep~'Ilding on the size of investment gains and/or losses. Misçellaneous Plan's unfunded açtuarial aççmed liability (or excess assets) is being amortized as a level percentage of projected payroll on a dosed basis. The average remaining amortization period at June 30, 2001 was 10 years for miscellaneous employees for prior and çurrent service mtfunded liabilities. 53 City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30,2004 -,~.~. ~ 9. PENSION PLAN, Continued A. PERS, Continued Three Year Trend Information for the Miscellaneous Plan Annual Percentage Pentõion Cost of APC Net Pension Fiscal Year (APC) Contributed Obligation 6/30/2002 $ 151.723 100% $ 6/30/2003 198,418 100% 6/30/2004 350,269 100% B. Social Security 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 covered under Social Security, which requires these employees and the City to each contribute 6.2 percent of the employees' pay. 10. COMMITMENT AND CONTINGENT LIABILITIES A. Grant Programs The City participates in several Federal and State grant programs. No cost allowances were proposed a.s a result of the City's financial audit; however, these programs are still subject to furthe¡' examination by the grantors and the amount, if any, of expenditures, which may be disallowed by the granting agencies cannot be determined at this time. The City expects such amounts, if any, to be immaterial. B. Litigation The City is subject to litigation arising in the normal course of business. In the opinion of the City Attorney there i.s no pending litigation, which is likely to have a material adverse effect on the financial position of the City. 54 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 10. COMMITMENT AND CONTINGENT LIABILITIES, Continued C. f~eimbllrsements to the City On January 23, 1996, the City adopted a fee for the purpose of reimbursing the City of Pleasanton for the costs of making improvemenL' 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 arumal 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, 2004, was $5,565,212, which is net of the $76,362 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 col1ection of development fees assessed for reimbursement of these improvements. The City has also entered into an agreement with the City of Pleasanton for the reimbursement of the cost of construction of a two-lane access road and the extension of Hacienda Drive. The advance as of June 30, 2004, is $2,923,684, which includes $77,603 interest and $239,314 in repayments for the current year. Interest accrues on the reimbursement at 7.48 percent per year. The reimbursement is to be repaid from proceeds of assessments, special taxes or fees imposed on the property east of Dougherty Road with no specific due date. The City's General Fund shall not be obligated to repay this obligation. The açcounting for the amount due is not recorded as indebtedness since future payments are contingenl upon the future collection of development fees assessed for reimbursement of these improvements. D, BART Agreement In 1990, the City and Bay Area Rapid Transit District (BART) entered into a Settlement Agreement regarding the City's extension of Dublin Boulevard to the extension of Hacienda Drive. BART advanced the City $2,285,000 to purchase land and construct the road extensions. The advance was structured with two components: a Short Tern1 and a Long Term Advance. These projects are now mmpIete_ Short Term. Advance The amount provided as a Short Term Advance came due on December 31, 1995. In accordance with a separate agreement, the Alameda County Surplus Property Authority repaid this amount. See the related note on the Alameda County Surplus Property Authority below. Lon~ Term Advance BART's long term advance to the City, including accrued interest as of June 30, 2004 is $2,121,727, which has no specific due date. Under the City's agreement with BART, interest On the advance accrues at a rale based On BART's average rate of return on its investments. During the year ended June 30,2004 unpaid interest incurred was added to the balance owed in the amount of $89,090. The City expects to repay principal and interest on BARTs advance out of developer fees, charges and other non-tax revenues generated by future development in the area of the BART station. The agreement states that in no event is the advance to be repaid from the City's General Fund or from general revenueS. The agreement provides for the forgiveness by BART of any principal or interest stin outstanding On March 27, 2010. 111e 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. 55 City of Dublin Notes to Basic Financial Statements, Continued For the year ended June 30, 2004 10. COMMITMENT AND CONTINGENT LIABILITIES, Continued E. 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 shalt accrue at a rate based on the Alameda County Treasurers return on investments. As of Jtme 30, 2004, the advance is $2,224,341, which includes accrued interest of $28,329 for the current year. The advance is to be repaid from developer fees, charges, and other non- tax revenues from the benefiting area and has no specific due date. The City's General Fund shall not be obligated to repay this obligation. The accounting for the amount due is not recorded as indebtedness since future payments are contingent upon the future collection of development fees assessed for repayment of the adv¡mce. 1-'. Other Development Agreements The City entered into several agreements with various developers and merchant builders who are developing nmnerous residential and commercial projects throughout the City. 111e City agreed to grant the developers impact fee credits since the developers constructed certain improvements beyond what was needed to serve their speçific projects_ The value of credits does not increase fa!' 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, 2004 was $54,015,237. For the current year, additions to the credits amounted to $2,597,697 and credits used amOlmted to $3,603,546. The accounting for the amounts due are not recorded as indebtedness since the payments (use of credits) are contingent upon the collection of development fees from building growth that has not yet occurred. 11, DEFICIT FUND BALANCE The Fire Impact Fees Fund ended the fiscal year with a $1,810,979 defiçit fund balance. The General Fund has advanced money to this fund to cover current cash £low needs. Repayment of the advance is expected to cOme from future revenues to this fund. 56 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I REQUIRED SUPPLEMENTARY INFORMATION 57 City of Dublin Required Supplementary Information For the year ended June 30, 2004 1. BUDGETS AND BUDGETARY ACCOUNTING The City follows these procedures in establishi.J1f, the budf,etary data reflected Il1 the basic financial statements; · Prior to June 3D the City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July 1. The operating budget indudes 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 within any department. Any revisions, which alter total deparhnental expenditures of the City must be approved by City Council except as follows: The City Manager will be allowed to transfer funds from the contingent reserve to operating departments salary and benefits accounts when required due to employee turnover or change in status, City Council approved funding for increases in employees salaries and benefits, and City Council approved funding for increase in contract or labor rates. Expenditures may not exceed budgeted appropriations at the departmental level without City Council approval. · Formal budgetary integration is emp]oyed as a management contro] 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. · All unexpended appropriations lapse at the end of the fiscal year. 58 I I I I I I I I I I I I I I I I I I I I City of Dublin I Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Required Supplementary Information, Continued I For the year ended June 30, 2004 Variance with I Final Budget - Budget Amounts Actual Positive Original Fin.al Amounts (Negative) I REVENUES: Property taxes $ 11,274,72~ $ 11,274,729 $ 11,316,703 $ 41,974 Sales t1. x 1:'\,0:'\6,O[)0 13,036,000 13,940,263 904,26:'\ I Other taxes 2,467,787 2,467,7H7 2,741,105 273,318 Intergovernn\ental 2,372,900 1,916,900 1,828,993 (H7,907) Licens~s and permlts 2,025,003 2,025,003 3,090,992 1.065,989 I Charges for service 4,868,788 5,072,7H8 4,HOl,137 (271,651) (nterest 751,710 751,710 492,971 (25K,n9) Use of property 145,840 145,840 130,741 (15,099) Pines and forfeitures 106,500 106,500 117,369 10,869 I Other revenue 551,071 1,142,405 860,434 (281 ,971) Total revenUeS 37,600,328 37,939,662 39,320,70R 1,38".1 ,046 I EXPENDITURES: Current: Genera I government 4,823,056 4,962,113 4,620,431 341,hH2 I Public safety "16,112,262 I h,399,785 16,353,712 46,073 Highways and streets 1,607,102 1,613,053 1,532,007 81,046 Health and welfare 31,341 85,669 82,812 2,857 Culhlre and leisure 5,329,601 5,371,054 5.09H,102 272,952 I Community development 6,457,591 6,667,757 6,342,720 325,0:'\7 Capital outlay: Genera J 983,660 1,802,739 1,163,181 639,558 I Community improvement 845,044 989,845 718.08h 271,759 Parks 2,H69,563 2,900,493 1,831,349 I,Oh9,144 Streets 736,730 1,340,488 93H,789 401,699 I Total expenditures 39,795,950 42,132,996 38,6Rl.189 3,451,807 REVENUES OVER (UNDER) EXPENDITURES (2,195,622) (4,193,334) 639,519 4,832,853 I OTHJiR FINANCING SOURCES (USES): Transfer in 22,350 21,885 (465) Transfer out (20) (20) I Total other financing SOurce' (uses) 22,330 21,865 (4hS) REVENUES AND OTHER FINANCING I SOURCES OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES $ (2.1 95,622) $ (4.171,004) 661,384 $ 4$'I2,:'\R8 I FUND BALANCES: Beginning of year, as restated 43,936,274 End of year $ 44,597,658 I I 59 -----------.--...------------ 60 I I I I I I I I I I I I I I I I I I I This page intentionally left blank.. I I I I I I I I I I I I I I I I I I I City of Dublin Required Supplementary Information, Continued For the year ended June 30, 2004 Schedule of Fundin,! in Pro'!reS5 Miscellanrous Plan of the ealifo.mia Public E1J!l!lowe Retirement 51/stem Entry Age Aduarial Actuarial Actuarial Valuation Asset Accrued Date* Value Uability Unflmded (Overfcmded) Unftmded Actuarial (Ovcrfundcd) I .iabiHty as Actuarial Percentage of Accrued Funded C"vered Liability Ratio Covered Payron (1M) (A/B) l>ayroll (CjR) $ (945,067) 115.0% $ 3,880,432 (24.4)% 45,699 994% 4,760,484 1.0% 224,087,511 91.4% 725,020,458 30.9% 6/30/2001 $ 7,2.15.624 $ 6,290,557 6/30/2002 7,261,051 7,306,750 CaIPERS Risk Pool Information (See note below) 6/30/2003 2,372-879,Oc14 2,596,966,545 As of the actuarial valuation date of June 30, 2003, the City's miscellaneous plan became part of a CaIPERS Risk Pool for employers with less than 100 active plan members. The schedule of funding progress for miscellaneous employees presented above for 6/30/2003, is for the whole pool and not that of the City individually. 61 62 I I I I I I I I I I I I I I I I I I I This pagt inttntionally l~rt blank. i' , , , , , I , I I I I I I I I I I I SUPPLEMENTARY INFORMATION 63 64 I I I I I I I I I I I I I I I I I I I Tltis page intel/fiona/hi/eft blank. I I I I I I I I I I I I I I I I I I I GENERAL FUND The General Fund is used to account for all financial resOurces except those requir~d to be accounted for in another fund. 65 City of Dublin I Schedule of Budget Versus Actual Revenues by Sources I General Fund For the fiscal year ended June 30, 2004 I Varjanç~ with I Final Budgel - Budgeted Amounts Actual Positive Original Pinal Amount') (Ne!;ative) I Property Taxes: Current year secured $ 9,697,000 $ 9,697,000 $ 9,602,717 $ (94,283) Current year unsecured 766,000 766,000 775,655 9,655 I Prior year secured 204,000 204,000 208,731 4,731 Prior year unsecured 27,000 27.000 37,045 10,045 Supp'e'I\ental pTOperty tax 444,000 444,000 533,424 89,424 I Pilot tax 57,729 57,729 53,636 (4,093) Property tax p~na Ib(~8 79,000 79,000 105,495 26,495 Sub-total 11,274,729 11,274,729 11 ,316,7IJ3 41,974 I Taxes Other Than Property: Sales & use tax 13,(r\6,IJIJIJ 13,036,000 13,940,263 904,263 I Real propeTty tranKfer tax 334,000 334,000 571,361 237,361 Hotel tTansi"nt occupancy tax 719,550 719,550 664,309 (55,241) Franchisc taxcs 1,414,237 1,414,237 1.505,435 9-1,198 I Sub-total 15,503,787 15,503.787 16.681.368 1,177,581 License and Permits: I lJuildiog permits 1,810,153 J,8JO,153 2,839,203 1,029,050 Animallicenscs 5,20IJ 5,200 4,437 (763) Encroachmenl permits 22,OOIJ 22,OIJIJ 47,llIJ 25,110 I BusÌness license 120,OOIJ 120,000 124,120 4,120 !'ire permits 67,650 67,650 76,122 8,472 Sub-total 2,025,003 2,025,003 3,090,992 1,065,9H9 I Pines and Forleitures: Parking fjne, 53,500 53,5IJIJ 64,426 10,926 Other court fines 50,IJOO 50,000 50,340 340 I OtheT fines & penallies 3,IJIJIJ 3,000 2,603 (397) Sub-total 106,5IJO 106,500 117,369 10,869 I Revenue From Use of Money and Property: Interest 751,710 751,710 492,971 (258,739) Rent & COI\ce"ion: I hdd rcntals 30,050 30,050 6,969 (23,081) Buildin¡,; 74,430 74,430 60,507 (13,923) Pool 11,745 11,745 21,H46 10;101 I Heritage Center 6,375 6,375 3,070 (3,305) Commulúty gym 23,240 23,240 38,349 15,109 Sub-total 897,550 897,550 623,712 (273,838) I 66 I I City of Dublin I Schedule of Budget Versus Actual Revenues by Sources General Fund, Continued For the fiscal year ended June 30, 2004 I I Variance wilh Final Budget . Budgeted Amount. Actual Positive I Ori~~ina I Final Amount,; (Negative) Intergovemmental Revenues - State: Motor vehicle in-lieu tax $ 2,218,000 $ 1,762,000 $ 1.682.152 $ (79,848) I Off highway vehicle in-lieu tax 900 900 1.034 134 ] lomeowner's property tax relief 154,000 154,000 145,807 (8)93) Sub-total 2,372,900 1,916,900 1,828,993 (87,907) I Charges for Services: Zoning & sU bJivision fees 1,646,940 1.850,940 1,889,543 38,603 I Plan check & inspection fees 1,389,500 1,389,500 1,340,742 (4H,75H) Fire plan check and inspection fees 115,060 115,060 133,716 IH,656 Sale of maps and ùot:uments 20,000 20,000 15,424 (4,57fi) I Specia I police .seTvjces. 17,000 17,000 20,231 3,231 Fire service charg(:~ 437,400 437,400 149,502 (287,898) Cultural arts 8,000 8,000 6,417 (1,583) I Park and Recreation Fees: Recreation instruction 167,825 167,825 155,252 (12,573) Preschool 80,005 HO,005 9H,046 18,041 I Spedal events 111,306 111,30fi 116,547 5,241 Playgrounds 174,851 174,851 170,788 (4,063) Teens 47,235 47,235 38,735 (8,500) I Adult sports 66,792 66,792 59,874 (6,918) Aquatics 169,020 169,020 178.959 9,939 Senior 51,944 51,944 47,204 (4,740) Youth sports 96,944 96,944 115,345 18,401 I Heritage Center 875 875 3,646 2,771 Building use insurance 9,345 9,345 6,917 (2,428) Zone 7 drainage fees 826 826 3,005 2,179 I Dur program 3,000 3,000 37 (2,963) Booking fees recovery 83,200 83.200 69,218 (13,982) Solid waste fees 109,956 109.95fi 116,31fi 6,360 I Internment 6)80 6,180 8,Ol0 1,830 Cable support fees 55,584 55,584 57,663 2,079 Su b-total 4,868,788 5,()72,788 4,8D1,137 (271,651) I Other Revenues: Contributions 132,071 132,071 n701 (59,370) I :rv1iscenan~ous 9,000 9,000 90,362 81,3fi2 Reimbursement - general 402,000 993,334 687,023 (306,311) Reimbursement - public damage 8,000 8,000 10,348 2,348 I Sub-total 551,071 1,142,405 860,434 (281,971 ) Total revenue6 by sources $ 37,600,328 $ 37,939,662 $ 39,320,708 $ 1,381,04fi I 67 City of Dublin I Schedule of Budget Versus Actual Departmental Expenditures I General Fund For the fiscal year ended June 30, 2004 I Variance with Final Budget - I Budgeted Amounts Actual Positive Original Final AmolUlts (Negative) General Govel'l1ment: I City Council $ 227,850 $ 250,580 $ 209,858 $ 40,722 City Manager 823,204 828,110 817,034 11,076 Central services 364,960 370,244 341,914 28,330 I City Attorney 646,047 809,745 700,798 108,947 Administrative services 1,360,195 1,361,492 1,244,537 116,955 Building management 717,595 757,523 757,523 I Insurance cost center 430,405 430,405 420,062 10,343 Flection cost center 2,800 2,800 2,541 259 Nondepartmental 250,000 151/214 126,164 25,050 I Sub-total 4,823,056 4,962,113 4,620,431 341,682 Public Safety: Police 8,601,317 8,605,679 8,570.944 34,735 I Crossing guards 71,462 71,462 65,794 5,668 Atùmal control 197,194 198,954 198,954 Traffic signals and street lighting 11 ,150 "11,150 6,543 4,607 I Disaster preparedness 71,952 72,001 70,994 l,007 Fjye seTvlces 7,159,187 7,440.539 7,440,483 56 Sub-total 16,112,262 16,399,785 16,353,712 46,073 I Highways and Streets: Public works administration 694.417 697,824 686.881 10,943 Street m.aintenance 10,004 10,004 3,704 6,300 I Street sweeping 145.676 148,220 130,351 17,869 Street tree maintenance 118,188 "118;188 117,583 605 Street landscape maintenance 638,817 638,8"17 593,481\ 45,329 I Sub-total 1,607,1 02 1,613,053 1,532,007 81,046 Health and WeHare: Waste luanagen1cnl 8,691 46,419 46,419 I Child care 18,500 18,500 18,500 Social serv ices l,OOO 1,000 1,000 Housing programs 3,150 19,750 16,893 2,857 I St1b-total 31,341 85,669 82,812 2,857 Culture and LeÎ!õnue: I Library services 553,662 553,662 522,604 31,058 Cultural activities 138,088 138,563 110,249 28,314 Heritage Center 114,188 114,773 99,621\ 15,145 Cemetery operation 43,858 54,858 53,534 1,324 I Pal'k u\aintenancc 1,457,804 1,457,804 1,403,775 54,029 Community cable television 64,634 64,634 62,021 2,613 Parks and comm.unîty services 2,707,881\ 2,733,475 2,599,745 133,730 I PaT'ks and faclllties nlanagement 249,479 253,285 246,546 6,739 Sub-total 5,329,601 5,371,054 5,098,102 272.952 61\ I I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Budget Versus Actual Departmental Expenditures General Fund, Continued For the fiscal year ended June 30, 2004 Variance with Final Budget· Budgeted Amounts Actual POf:ìitîve Original Pinal Amounts (Negative) Community Development' Plamung/building safely $ 4,275,977 $ 4,434,209 $ 4,178,614 $ 255,595 Engineering 1,900,7IJ5 1,923,433 1,861,972 61,461 Economic development 280,909 310,115 302,"134 7,981 Sub-total 6,457,591 6,667,757 6.342,720 325,037 Capital Outlay: General improvements 983,660 1,802,739 1,16:\,181 639,558 Community improvements 845,044 989,845 718,086 271,759 Parks 2,869,563 2,900,493 1.831,349 "1,069,144 Street construction and Îll\prOVenlents 736.730 1,340.488 938,789 401,699 Sub-total. 5,434,997 7,033,565 4,651,405 2,382,160 Total expenditures $ 39,795.950 $ 42,132,996 $ 38.681,"189 $ 3,451 .807 69 70 I I I I I I I I I I I I I I I I I I I ThiS page inientionally lefl blank. I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual- Traffic Impact Fees Capital Projects Fund For the ycar ended June 30, 2004 Budp;eted Amounts Origina I I-'inal AchtaJ Amounts Variance. with Final Budget - Positive (Negative) REVENUES: Interes t Developer fees T olal revenues 5 477,371 10,094,000 10,571,371 $ 477,371 10,094,000 10,571,371 $ 176,7H2 4.872,735 5,049,517 $ (300,589) (5,221,265) (5,521,854) EXPENDITURES: Currenl: General government Capital outlay: Parks Street. Total expenditures 1,480,937 1,480,936 1 407,570 407,570 136.169 271,401 16.71 1 ,H23 17,886,304 3,886,399 13.999,905 17,119,393 19,774,811 5,503,504 14,271,307 $ ((,,548,022) $ (9,203,440) (453,987) $ 8,749,453 N el change in fund balance FUND BALANCE: Begimung of year End of year 17,776,381 $ 17,322,394 71 City of Dublin Schedule of Revenues, Expenditure~ and Changes in Fund Balances - Budget and Actual - Public Facilities Fees Capital Projects Fund For the year ended June 30, 2004 I I I I I I I I I I I I I I I I I I I 1,483,920 1,483,920 1,483,920 3,675,034 3,753,061 3,308.611 444,450 5;158,954 5,236,981 3.308.611 1.928,370 $ (361,446) $ (439,473) 2,975,263 S 3,414,736 Budgeted Amount- Original Final REVENUES: Interest D"vel"per fees Total revenues $ 70,508 4,727,000 4,797,508 $ 70,508 4,727,000 4,797,508 EXPENDITURES: Capital outlay: General Parks Total expenditures Net change in fund balance FUND BALANCE: Begitming of year End of year 72 Actual Amount~ $ 49,596 6,234,278 6,283,874 3,086,466 $ 6,061,729 Variance with Pinal Budget- Positive (Negative) $ (20,912) 1,507,278 1,486,366 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual" Park Dedication Capital Projects Fund For the year ended June 30, 2004 86,855 150,037 108,089 41,948 86,855 150,037 108.089 41,948 $ 1.922,677 $ 1,859,495 (98,963) $ (I ,958,458) Budgeted Amounts Odginal Final REVENUES: $ 37,766 1,971,766 2,009,532 $ 37,766 1,971,766 2,009,532 Interest Developer fees Total revenues EXPENDITURES: Capital Dutlay: Parks Total expenditures Net change in fund balance FUND BALANCE: Begmning of year End of year 73 Actual Amounts $ 9,126 9.126 1,050,603 $ 951,640 Varia.nc(~ with Final Budgel- PositiVt,~ (Negabve) $ (28,610) (J,97J,766) (2.000A06) GcneTal government Capital outlay: General Tolal expenditures 3,600 3,600 3,600 102,875 1,064,014 1.007,729 56,285 106,475 1,067,614 1,011,329 56,285 $ (27,895) $ (899,034) (735,641) $ 163,393 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances· Budget and Actual- Fire Impact Fees Capital Projects Fund For the year ended June 30, 2004 Budgeled Amounts Original Final Actual Amounts Varjance wjth Pinal Budget - Po~itive (Negative) REVENUES: Intereft;t Developer fecs Tolal revenues $ 580 $ 78,000 78,580 580 168,000 168,580 $ 275,688 275,688 $ (580) 107,688 107,108 EXPENDITURES: Nel change in fund balance FUND BALANCE: Beginning of year End of year (1,075,338) $ (1,810,979) 74 I I I I I I I I I I I I I I I I I I I NON-MAJOR GOVERNMENTAL FUNDS Special I{evenue Funds are used to account for the proceeds of specific revenue sOurCeS (other than major capital projects) that are legally restricted to expenditures for specific purposes. Special Criminal Activit.y Fund - Established to account for receipt of funds derived from asset forfeitures. Vehicle Abatement Fund - Established to account for the use of funds received from vehicle registration of Dublin residents for the towing of abandoned vehicles in city limits. Supplemental Law Enforcement (SLES/COPS) - Established to aççount for police expenditures funded by a State grant. Federal Police Granl- Established to accOlmt for police expenditures funded by a Federal grlU1t. CLEEP Grant - Established to account for police tedmology expenditures funded by a State grant. Traffic Safety Fund - Established to account for the receipt of traffic fines and traffic safety expenditures. State Gas Tax Fund - Established to account for receipt of state gasoline taxes and expenditures. Community Development Block Grant (CDBG) Fund - Used to account for grants and expenditures related to çommunity development block grants. lntermodal Surface Transfwrtation Efficiency aSTEA) Act - Established to account for street construction expenditures funded by a Federal grant. rEMA Fund - Established to account for expenditures funded with FEMA grants. Measure B Sales Tax TransportaUon Fund - Established to account for ,m Alameda County voter approved increase in sales tax used for improvements on streets and roads. State Transportation Im¡mJVement - Established to account for grant receipts from the state used for capital improvements On local streets. Transportation for Clean Air (ITCA) - Established to account for grant receipts from the State to be used for capital improvements On local str.>ets. Storm Water Runoff Fund - Established to account for the use of funds received from fees collected to mitigate pollution within the City without specific sources and to comply with Federal requirements for National Pollution Discharge Elimination System (NPDES). 75 NON-MAJOR GOVERNMENTAL FUNDS I I 76 I I I I I I I I I I I I I I I I I Measure D Recycliug Frmd ~ Established to account for thc uSe of funds received which are levied by the County pursuant to a charter amendment and are provided for recyclinf, and related activities. Garbage Service f"uud - Established to account for the use of funds received which are levied by the county for garbage pick-up and removal and recycHng services. Measure B Bike aud Pedestriau- Established to account for an Alameda County voter approved increase in sales tax used for bike and pedestrian related projects. EMS f"uud - Established to account for excise taxes received to fund the costs of providing Emergency Medical Services. Traffic Cougestion Relief - Established to account for h'affic congestion relief expenditures funded by a State grant. IIollsiug and Noise Mitigation - Established to account for impact fees received from developers of properties, which can only be used for the design, development, and conSh'uction of citywide affordable housing projects and noise mitigation projects in Eastern Dublin. Dublin Informatiou Inc. (VIl) - Established to account for the expenditures of DlI, a separate legal entity, which has assisted in providing financing to the City. Maiuteuance Districts - Established to account for revenue and related expenditures of lighting and landscape districts. I I I I I I I I I I I I I I I I I I I TJ,is page intentionally left blank. 77 City of Dublin Combining Balance Sheet Non-Major Governmental Funds June 30, 2004 $ I I I I F~d~ral I Police Gl'ant I I I I I I I I I I I I I I ASSETS Cash and investnlent.:; Accounts receivable Total assets LIABILITIES AND FUND BALANCES Liabilities: Aççounts paya.ble Contract retention payable Due to other funds Total HabiHties Fund Balances: Res~rved lor: Recycling programs Public salely programs Street nlaintenance and construction Health and wellare programs Capital improvement projects Total fund balances TotalliabiHtie. and fund balances Special Revenue Funds Special Supplemental CrinÜna] Vehicle Law Activity Abatem~nt EnfQrçcmt:~nt $ 21,597 $ 96,651 $ $ $ 21,597 $ 96,651 $ $ $ $ $ 21,597 96,651 $ 21,597 21,597 $ 96,651 96,651 $ 78 $ I I I I I I I I I I I I I I I I I I I Special Rcvcnu" Funds lntermodal Contmunit:y Surface Devdopment Transportation CLEEP Grant Traffic Safety State Gas Tax ßlock Grant Efficiency Ad FEMA $ $ 157,734 $ 1,587,262 $ $ $ 28,233 57,995 127,000 $ $ 185,967 $ 1,587,262 $ 57.995 $ 127,000 $ $ 5 12,252 $ 26.595 $ 23,153 $ $ 2,614 1 2,359 34,842 114,641 29,209 57,995 127,000 12,252 "173,715 1,558,053 $ $ 173,715 185,967 $ 1.558,053 1.587,262 $ 57,995 $ 127,000 $ (Continued) 79 City of Dublin Combining Balance Sheet Non-Major Governmental Funds, Continued June 30, 2004 $ I I I I Storm Water I Runoff I 80 80 I I I I I 80 I 80 80 I I I I I I I Measure B Sale Tax 'l'ransportation ASSETS Cash and investments Accounts receivable $ Total assets $ LIABILITIES AND FUND BALANCES Liabilities: Acc()unt"ì payable Contr,'ct retention payable Due to other funds 484,142 $ 43,754 527,896 $ Special Revenue Funds State Transportation Improvement 'l'ran.sportabon for Clean Air 143,444 $ 184,827 328,271 $ 10,572 10,572 $ $ 196,311 $ 28,552 224,863 Total liabilities Fund Balances: R"'erved for: I{ecychng programs Public safety programs Strcel maintenance and construction HealUl and welfare pn)BTamS Capital improven",nt projects Total fund balances Tota] liabilities and fund balances 303,033 $ 303,033 527,896 $ 80 143,444 $ 10,572 10,572 143.444 184,827 ]84,827 328,271 $ 10,572 $ $ I I I I Special Revenue Funds Measure B Traffic Housing and I Measure D Garb.g~ Bike and Congestion Noise Recycling Service Pedestrian EMS Relief MitiRatinTI I S 503,113 $ 483,226 $ 13,:'\40 $ 183,820 $ 53,660 $ 9,697,252 214,561 12,787 13,404 2H,39 I I $ 717,674 $ 496,013 $ 26,744 $ 212,211 $ 53,660 $ 9,697,252 I $ 152,819 $ 495,665 $ 1,519 $ 183,819 $ 53,660 $ 405 I 152,819 495,665 "1,519 183,819 53,660 405 I I 564,1155 28,392 I :'\48 9,696,847 25,225 564.855 :'\48 25,225 28,392 9,696,847 I $ 717,674 $ 496,013 $ 26,744 $ 212,211 $ 53,660 $ 9,697,252 I I I I I I (Continued) 81 Cash and investment, Accounts receivable Total assets I I I I I I I I I I I I I I I I I I I City of Dublin Combining Balance Sheet Non-Major Governmental Funds, Continued June 30,2004 Special Revenue Funds Maintenance Districts Dublin Dougherty Information Street Stagecoach Landscape & Inc. Lighting Landsca pe Lighting $ $ 148,047 $ 41.570 $ 55,502 1,689 415 545 $ $ 149.736 $ 41,985 $ 56,047 ASSETS LIABILITIES AND FUND BALANCES Liabilities: Accounts payable Contract retention paysbl~ Due to ntheT funds $ $ 17,451 $ 2,860 $ 16.485 Totall.iabilities Fund Balances: ReseTved fOT: Recycling proL"Tams Public safety programs StrC'c;:.~t maintenance and constTuction H~alth and welfare programs Capital improvement projech Total fund balances 17,451 2,860 16,485 132,285 39,125 39,562 Total liabilities and fund balances $ $ 132,285 149.736 $ 39,125 41,985 $ 39,562 56,047 82 I I I I Special Revenue Funds Maintenance Districts Total Santa Rita ])u bUn Street Non-Major I Assessment Lighting Governmental District 97-1 AsseSSlnent Funds I $ 121,767 $ 111.992 $ 13,904,]]9 720 158 725,131 I $ 122,487 $ 112.150 $ -14,629,250 I $ 32,172 $ 7,698 $ 1,366,308 I 43,525 160,055 32,172 7,698 1,569,888 I I 564,855 320,355 90,en5 104,452 2,451,732 I 9,697,195 25,225 90,315 104,452 B,059,362 I $ 122,487 $ 112,150 $ 14,629,250 I I I I I I (Concluded) 83 City of Dublin I Combining Statement of Revenues, Expenditures and Changes in Fund Balances I Non-Major Governmental Funds For the year ended June 30, 2004 I Special Revenue Funds Special Supplemental I Criminal Vehicle Law Federal Activity Abatement Enforcement Police Grant REVENUES: I Property taxe,"! $ $ $ $ Taxes other than property I Intergovernnlental 22,257 100,000 16,398 Charges for service Interest 209 1,042 195 59 Fines and forfeitures I Developer fces Other revenue Special assessmenþ) I Total revenues 209 23,299 100,195 16,457 EXPENDITURES: I Cu tTent: Ge,neral government Public safety 1,170 21 ,'158 100,332 1ó,4ó9 I Highways and streets HealU1 and welfa,-e CommlUuty development I Capital outlay: Community i.mprovement Parks Streets I Total expenditures 1,170 21,958 100,332 16,469 REVENUES OVER I (UNDER) EXPENDITURES (961) 1,341 (137) (12) OTHER FINANCING SOURCES (USES): I Transfer in Ttansfer out (15,242) Total other financing sources (uses) (15,242) I RINENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND I OTHER FINANCING USES (961) (13,901) (137) (12) FUND BALANCES: I BegilUUng of year 22,558 110,552 137 12 End of year $ 21,597 $ 96,651 $ $ I S4 I I I I Special Revenue Funds I IntermodaI Community Surface Devciopmont Transportation CLEEP Grant Traffic Safety State Gas Tax Block Grant Efficiency Act FEMA I $ $ $ $ $ $ I 673,217 101,562 127,000 8,179 83 1,540 14,196 I 154,784 I 83 156,324 687,413 101,562 127,000 8,179 I I 21,559 142,203 1,247 127,000 8;179 216,334 78,935 6,000 I 16,027 I 207,8U7 21,559 142,203 431,388 94,962 127,000 8,179 I (21,476) 14,121 256,025 6,600 I (6,600) I (6,600) I (21,476) 14,]21 256,025 I 2"1,476 159,594 1.302,028 $ $ 173,715 $ 1,558,053 $ $ $ I I (Continued) 85 City of Dublin I Combining Statement of Revenues, Expenditures and Changes in Fund Balances I Non-Major Governmental Funds, Continued For the year ended June 30, 2004 I Special Revenue funds Measure B Slate Storm I Sale Tax Transportation Transportation Water 'I'ra:nsportation Inlpl'OVClllcnt for Clean Air Runoff REVENUES: I Property taxes $ $ $ $ Taxes other than property 274,7U8 I Intergovernmental 1,675,457 1 ()7,()()0 Charges for service 96 Interest 3,545 Fines and forfeihtres I Developer fees Oth~J' revenue Special asse.ssments I l' olal revenues 278.253 1,675,457 1U7,UUU 96 EXPENDITURES: I Current: General government Public safety I Highways and streets Health and welfare Community development Capital outlay: I Community improvement Parks Slreets 225,141 J,49(),63() 107,000 I Tota' expenditures 225,141 1,490,63U ] ()7,()()() REVENUES OVER I (UNDER) EXPENDITURES 53,112 184,827 96 OTHER FINANCING SOURCES (USES): I 'J'ran.sfer in T ra.nsfer au t (43) Total other financing sources (uses) (43) I REVENUES AND OTHER HNANCING SOURCES OVER (UNDER) EXPENDITURES AND I OTIIER FINANCING USES 53,112 1 H4,H27 53 FUND BALANCES: I Beghming of year 249,921 27 End of year $ 303,033 $ 184,827 $ $ 80 I S6 I I I I Special Revenue Funds I McasuJ'~ B Traffic Housing and Measure D Garbage Hike and Congestion Noise Recycling Service Pedestrian EMS Relief Mjtigation I $ $ $ $ 105,605 $ $ I 82,734 175,31:'1 106,791 988,737 4,599 3,466 261 65 562 95,341 I 2,072,573 291,518 I 471,4-10 992,203 82,995 2"12,461 562 2,167,914 I 88,894 I 211.138 355,189 992,830 2,252,494 I 41,572 I 82,747 53,383 396,761 992,830 82,747 211,138 53,383 2,341,38R I 74,669 (627) 248 1.323 (52,821) (173,474) I I I 74,669 (627) 248 1,323 (52,821) (173,474) I 490.186 975 24,977 27,069 52,821 9.870.321 $ 564,855 $ 348 $ 25,225 $ 28,392 $ $ 9,696,847 I I (Continued) 87 City of Dublin I Combining Statement of Revenues, Expenditures and Changes in Fund Balances I Non-Major Governmental Funds, Continued For the ycar cndcd Junc 30, 2004 I Spedal Revenue Funds Maintenance Districts I Dublin Dougherty InfOl'nlal'ion Street Stagecoach Landscape & Inc. Lighting Landscape Lighting REVENUES: I Property taxes $ $ $ $ Taxes other than property I 1ntergnvernmental Charges for service Interest 1,359 :\34 350 Fines and forfeitures I Developer fees Other revenue 144 Speçiat assessments 219,942 60,385 88,438 I Tota.l revenues 221,445 60,719 88,788 EXPEN DlTVR ES: I Current: General government 20 Pu blit safety 182,469 I Highways and streets 1,352 53,'1"19 76,3H6 Health and we]fare Conununity development 6,651 3,204 1,]58 Capital outlay: I Community Ünproveme:nt Parks Streets 53,982 I Total expenditures 20 244,454 57,123 77,544 REVENUES OVER I (UNDER) EXPENDITURES (20) (23,009) 3,596 11,244 OTHER FINANCING SOURCES (USES): I Transfer in 20 Transfer ou t Total other financing .OUrees (uses) 20 I REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) EXPENDITURES AND I OTHER FINANCING USES (23,009) 3,596 1"1,244 FUND BALANCES: I ßeginning of year 155,294 35,529 2B,31B End of year $ $ 132,285 $ 39,125 $ 39,562 I S8 I I I I SpecÎal Revenue Funds I Maintenante Districts Santa Rita Dublin Street Non-MajOT ASSes.Slllenl Ugh ting GoveT'I1mentaJ Districl97-1 Assessment Funds I $ $ $ ]()5,605 357,442 I 3,113,174 988,833 1,068 985 129,259 I 154,784 2,072,573 291,662 I 180,702 43,734 593,201 181,770 44,719 7,806.533 I 88.914 I 35,065 868,789 192,808 540,799 3,679,448 1,179 2,815 21,007 I 16,027 41,572 I 2,220,690 193,987 37,880 7,477,246 I (12,217) 6,839 329,287 I 20 (21,8~5) I (21,865) I (12,217) 6,839 307,422 I 102,532 97,613 12,751,940 $ 90,315 $ 104,452 $ 13,059,362 I I (Concluded) S9 City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Special Criminal Activity Special Revenue Fund For the year ended June 30, 2004 I I I I I I I I I I I I I I I I I I I Bud¡:>;eted Amounts Orî~{inal Pinal REVENUES: J ntf::~n~st Other income Total revenues $ 345 2,000 2/\45 $ 345 2,000 2,345 EXPENDITURES: Current: Public safety Total expenditures AclLlal Amount., $ 209 209 Varl.ançt~ with Final Bud¡:>;ct- Positive (N"gativ,,) $ (136) (2,000) (2,136) 6,625 6,625 1,170 5.455 6,625 6,625 1,170 5,455 $ (4,280) $ (4,280) (961) $ 3,319 Net change in fund balance FUND BALANCE: B~ginning of year End of year 90 22,558 $ 21,597 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual- Vehicle Abatement Special Revenue Fund For the year ended June 30, 2004 22,O()() 22,000 21,958 42 22,()00 22,000 21,958 42 (2,133) (2,133) 1.341 3,39() Budgeted Amomlls Original Pinal RF.VF.NUES: $ Intergovernmental Interest Total revenues $ 18,000 1,867 19,867 18,000 1,867 19,867 EXPENDITURES: Current: Public safety Total expenditures REVENUES OVER (UNDER) F.XPENDlTURES OTHER FINANCING (USES): Transfers out 15,750 15,750 Total other financing (uses) REVENUF.S AND OTHER FINANCING SOURCF.S OVER (UNDER) EXPENDITURES AND OTHER FINANCING USES $ (2,133) $ 13,617 FUND BALANCE: Beginning of year End of year 91 Actual Amounts $ 22,257 1,042 23,299 (15,242) (15,242) (13,901) ".1".10,552 $ 96,651 Variance with I'ina¡ Budget- Positive (Negative) $ 4,257 (1\25) 3.432 (30,992) (30,992) $ (27,518) Net change in fund balance 100,000 "100,333 100.332 1 100,000 100,333 100,332 1 $ 44 $ (289) (137) $ 152 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Supplemental Law Enforcement Special Revenue Fund For the year ended June 30, 2004 Budgeted Amounls Ori,{inal F:inal Actual Amounts Variance wjth Final Budget - PO~Îtive (Negative) REVENUES: Intergovern.nental Interes.t Total Tevenue~ $ 100,000 44 100,044 $ 100,000 44 100,044 $ 100,000 195 100,195 $ 151 151 EXPENDITURES: Current: Public safety Total expenditures FUND BALANCE: Begirurlng of year End of year 137 $ 92 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Federal Police Grant Special Revenue Fund For the year ended June 30, 2004 19,652 16,470 16,469 "I 19,652 16,470 16,469 "I $ 23 $ (49) (12) $ 37 Bud!(eted Amounts Ori!(inal Pinal REVENUES: $ $ Intergovernmental Interesl Total revenues 19,652 23 19.675 )(,,398 23 16,421 EXPENDITURES: Current: I'u blic safety Total expendihues N el change in fund balance FUND BALANCE: Beguming of year End of year 93 Actual Amounts $ 1(,,398 59 16,457 $ Variance with Final Budget- Positive (Negative) $ 36 36 12 Interest Total revenues $ 216 2]6 $ 216 216 $ 83 83 $ (J33) (133) I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual. CLIP Grant Special Revenue Fund For the year ended June 30, 2004 Bud¡>;eted Amourtts Original Firtal Actual Amounts Vadance with Firtal Budget- Positive (Negative) REVENUES: EXPENDITURES: Current: Public safety Total expenditures 20,458 21-560 21-559 1 20,458 21,560 21,559 1 $ (20,242) $ (21,344) (21,476) $ (132) N ct change in fund balance FUND BALANCE: Beginning of year End of year 21,476 $ 94 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual- Traffic Safety Special Revenue Fund For the year ended June 30,2004 Budgeted Amounts Original Final Actual Amount"ì Variance with final Budgel - Positive (Negative) REVENUES: Interest Fin~s and forfeitures Total revenueS $ 3,307 149,000 152,307 $ ("1,767) 5,784 4,017 $ 3,307 149,000 152,307 $ 1,540 154,784 156,324 EXPENDITURES: CutTent: Public saft,ty Total expellditures 186,600 186,600 142,203 44,397 186,600 186,600 I42,203 44,397 $ (34,293) $ (34,293) 14,121 $ 48.414 Net challge ill fund balance FUND BALANCE: Begi.tming of year End of year 159,594 $ 173,715 95 City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - State Gas Tax Special Revenue Fund For the year ended June 30, 2004 I I I I I I I I I I I I I I I I I I I 2,900 2,900 1,247 237,579 237,579 216,334 6,000 6,000 6,000 510,986 510,366 207,807 757,465 756,845 431,388 $ (74,623) $ (74,003) 256,025 Budgeted Amounts Original Final REVENUES: Intergoverrunental Interest $ 659,600 23,242 682,842 $ 659,600 23,242 682,842 Total Tevenues EXPENDITURES: Current: Public safety Highways and "treels Comnlllnity development CapjtaI outlay: Streets 'J'ota] expenditures Net change in fund balance FUND BALANCE: Begi.tUling of year End of year 96 Actual Amom1ts $ 673,217 14,196 687,413 1,302,028 $ 1,558,053 Variance with Final Budget- Positive (Negative) S 13,617 (9,046) 4,571 U53 21,245 302,559 325,457 $ 330,028 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - CDBG Special Revenue Fund For the year ended June 30, 2004 78,935 78,935 78,935 16,027 16,027 16,027 94,962 94,962 94,962 6,600 6,600 6,600 Budgeted Amounts Original Final REVENUES: $101,562 $101,562 101,562 Intergovernmental Total revenue. 101,562 EXPENDITURES: Current: Health and welfare Capital outlay: COß1m.unity in\prOVenlent Total exp enditures REVENUES OVER (UNDER) EXPENDITURES OTHER FINANCING (USES): (6,600) (6,600) Transfers out Total other financing (uses) $ $ Net change in fund balance 6,600 FUND BALANCE: Beguming of year End of year 97 Actual Amounts $ 101,562 101,562 (6,600) (6,600) $ Variance with Final Budget- Positive (Negative) $ $ City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - ISTEA Special Revenue Fund For the year ended June 30, 2004 I I I I I I I I I I I I I I I I I I I 122,670 "127,000 "127,000 122,670 "127,000 127,000 $ 1.425,062 $ (5,534) $ 5,534 Bud¡:eted Amounts Original Pinal REVENUES: lnter~overnm~nta I Totall'evenues $] ,547,732 1,547,732 $ 121,466 121,466 EXPENDrfURES: Current: Public safely Total expenditures Net çhange in fund balançe FUND BALANCE: Beginning of year End of year 98 Actual Amounts $ 127.000 127,000 $ Variance with Final Budget - Positive (Ne¡:ative) $ 5,534 5,534 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - FEMA Special Revenue Fund For the year ended June 30, 2004 Budgeted i\mOlmts Ori¡;inal Final Actual Amounts Variance with Final Budget - Positive (Negative) REVENUES: Intergovernmental Total revenues $ 8,180 8.180 $ $ 8,179 8,179 $ (1) (1) 7,000 7,000 EXPENDITURES: CUlTent: Public safety "1"ot31 expenditures 7,000 8,180 8,179 1 7,000 8,180 8,179 I $ $ $ Net change in fund balance fUND BALANCE: Begil1lUng of year End of year $ 99 EXPENDITURES: Capitalout11Y: Streets Total expenditures 245,000 245,000 225,141 19,859 245,000 245,000 225.141 19,859 $ 11,922 $ 10,922 53,112 $ 42,190 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Measure B Sales Tax Transportation Special Revenue Fund For the year ended June 30, 2004 ßudgeted Amounts Original Final Actual Amounts Variance with Fillal Budget. Positive (Negative) REVENUES: Taxes other than property ¡nteres t Total revenues $ 253,000 3,922 256,922 $ 253,000 2.922 255,922 S 274,708 3,545 278,253 $ 21.708 623 22,331 Net change in fund balance FUND BALANCE: Be~Înn'¡n~ of y{~aJ' End of year 249,92J $ 303,033 100 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual- State Transportation Improvement Special Revenue Fund For the year ended June 30,2004 Budgeted Amounts Original Final Variance with final Budget - Positive (Negative) Actual Amounts REVENUES: Intergovert1lJlental Total revenues $ 67,153 67,153 $ 1,479,749 1,479,749 $ 1,675,457 1,675,457 $ 195,7U8 195,708 EXPENDITURES: Capital outlay: Street. Total expendihtres 67,153 1,510,363 1,490,630 1 Y,733 67,153 1,510,363 1,490,630 19,733 $ $ (30,614) 184,827 $ 215,441 Net change in fund balance FUND BALANCE: Beginning of year End of year $ 184,827 101 City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual- Transportation for Clean Air Special Revenue Fund For the year ended June 30, 2004 I I I I I I I I I I I I I I I I I I I Budgeted Amount' Or;g;llal Final REVENUES: Intergovernmental Total revenues $ 107,000 107,000 EXPENDITURES: Capital outlay: Streets Total expenditures 107.000 107,000 Net change in fond balance $ FUND BALANCE: B{~ginnin1i of yeaT End of year 102 $ 107,000 107,000 107,000 107,000 $ Actual Amounts $ 107,000 107,000 107,000 107,000 $ Variance with Final Budget - Positôve (Negative) $ $ I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual- Storm Water Runoff Special Revenue Fund For the year ended June 30, 2004 Bud!,eted Amounts Original !-'ina! REVENUES: $ Charges for services Total revenues OTHER FINANCING (USES): Tran!;fers out Total other financing (uses) $ Net change in fund balance FUND BALANCE: ßegìnning of year End üf year 103 $ $ Actual Amounts $ 96 96 (43) (43) 27 $ 80 Variance with Final Budget - PO(,oìitive (Negative) $ 96 96 (43) (43) 53 $ 53 City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual· Measure D Recycling Special Revenue Fund For the year ended June 30, 2004 I I I I I I I I I I I I I I I I I I I 352,226 402,226 355,189 38,304 41,572 41,572 390,530 443,798 396,761 $ (125,733) $ (179,001) 74,669 Budgeted Amounts Original Final REVENUES: Intergovernmental Interest Other revenue Total revenues $ 161,700 3,097 100,000 264,797 $ 161.700 3,097 100,000 264,797 EXPENDITURES: Current: Health and welfare Capital [Juday: Parks Total expenditure" Net change in fWld balance FUND BALANCIi: Beginning of year End of year 104 Actual AmOlmts $ 175,313 4,599 291,518 471,430 490,186 $ 564,855 Varlance with !'in.1 Budget - Positive (Negative) $ 13,613 1,502 191,518 206,633 47,037 47,037 $ 253,670 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balançes - Budget and Actual- Garbage Service Special Revenue Fund For the year ended June 30, 2004 Budgeted Amounts Original Final Actual Amounts Variance with Final Budget· Positive (Negative) REVENUES: Charges for servíccs Interest Total revenues $ 981,937 $ 6,800 3,466 10,266 $ 981,937 $ 988,737 3,466 981,937 981,937 992,203 EXPENDITURES: Current: Health and welfare Total expenditures 993,099 993,099 992,830 269 993,099 993,099 992,830 269 $ (11,162) $ (11,162) (627) $ 10,535 Net change in fund balance FUND BALANCE: Beginning of year End of year 975 $ 348 105 City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Measure B Bike and Pedestrian Special Revenue Fund For the year ended June 30, 2004 Budgeted Amollnls Original Final Actual Amounts REVENUES: Taxes other than properly lntetest Total revenues $ 80,000 313 80,313 $ 80,000 313 80,313 111,505 111,505 82,747 28,758 111,505 111,505 82,747 28,758 $ (31,192) $ (31,192) 248 $ 31,440 EXPENDITURES: Capital outlay: StTeets Total expenditures Net change in fnnd balo.nœ FUND BALANCE: Beginning of year End of yea r $ 82,734 261 82,995 $ 24,977 25,225 106 Varîance with Final Budget - Positive (NegaHve) $ 2.734 (52) 2,682 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances" Budget and Actual - EMS Special Revenue Fund For the year ended June 30, 2004 Budgeted Amounts Original Fina I Variance with Final Budget" Posjtiw (Negative) Actual Amoultts REVENUES: Property tax"s Intergovernmental Interest Total revenues $ 108,192 $ 108,192 $ 105,605 $ (2,587) 142,387 142,387 106,791 (35.596) 534 534 65 (469) 251,113 251,113 212-461 (38,652) EXPENDITURES: Current Public safety Total expenditures 250,579 250,579 2"11,138 39,441 250,579 250,579 211,138 39,441 $ 534 $ 534 1,323 $ 789 Net change in fund balance FUND BALANCE: Beginning of year End of year 27,069 $ 28,392 J07 City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual- Traffic Congestion Relief Special Revenue Fund For the year ended June 30, 2004 I I I I I I I I I I I I I I I I I I I 53,384 53,383 1 53,3M 53,383 1 $ 39 $ (53,345) (52,821) $ 524 Budgeted Amounts Original Final REVENUES: Interest Total revenues $ $ 39 39 EXPENDITURES: Capital outlay: Streets Total expenditures Net change in fund balance FUND BALANCE: Begi.tuling of year End of year 108 Actual Amount. 39 39 $ 562 562 52,821 $ V aT'iancc..~ with Final Budget - Positive (Negative) $ 523 523 I I I I I I I I I I I I ,. I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual- Housing and Noise Mitigation Special Revenue Fund I;or the year ended June 30, 2004 Budgeted Amounts Original Final Actual Amounts Variance with Final Budget" Positive (Nq:ative) REVENUES: Interest Developer fees Tolal revenues $ 173,726 2,246,000 2,419,726 $ 173.726 2,246,000 2,419,726 $ 95,341 2,072.573 2,167,914 $ (78,385) (173,427) (251,812) EXPENDITURES: Current: Gencralgovernrn~t Health and we! fa re T olal expenditures 25,200 88,894 88,894 296.4] 5 2,505,917 2,252,494 253,423 321,615 2,594,811 2,341.388 253,423 $ 2,098,111 $ (175.085) (173,474) $ 1,611 Net change in fund balance FUND BALANCE: Be¡;inning of year End of year 9,870,321 $ 9.696,847 109 City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Dublin Information Inc. Special Revenue Fund For the year ended June 30, 2004 20 20 I I I I I I I I I I I I I I I I I I I Budgeted Amount., Ori¡,rinal Final EXPENDITURES: Current: Gen~Tal government Total expenditures $ OTHER FINANCING SOURCES: Transfers in Total other financing sources Net change in fund balance $ fUND BALANCE: !Jcginning of year End of yeaT 110 20 20 $ 20 $ Actual Amounts 20 20 $ 20 20 20 $ Variance with Final Budget- Positive (Negative) $ 20 20 $ (20) I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances· Budget and Actual - Street Lighting Special Revenue Fund For the year ended June 30, 2004 Budgeted Amount' Ori¡:inal hna I Variance with Final Bud¡:et - Positive (Ne¡:ative) Actual Amount, REVENUES: Interest Other revenue Special assessments Total revenues $ 4,479 $ 4,479 $ 1.359 $ (3;120) 4,000 4,000 144 (3,856) 219,700 219,700 219,942 242 228,179 228,179 221.445 (6,7:'\4) EXPENDITURES: Current: General government: Publie safety Highways and streets Community development Capital outlay: SITeets Total expenditures 210,874 210,874 182,469 28,405 1,791 1,791 1,352 439 6.250 6,651 6,651 70,881 77,584 53,982 23,602 289,796 296,900 244,454 52,446 $ (61,617) $ (68,721) (23,009) $ 45,712 Net change in fund balance FUND BALANCE: BeLrinnÎng of yeaT End of year 155,294 $ 132,285 111 City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Stagecoach Landscape Special Revenue Fund For the year ended June 30, 2004 I I I I I I I I I I I I I I I I I I I 5<),<)42 59,942 53.919 6,023 3,750 3,750 3,204 546 63,692 63,692 57,123 6,569 $ (7,762) $ (7,762) 3.596 $ 11 ,358 Budgeted Amounts Ori¡>;inal Pinal REVENUES: Interest Special assessments Total revenues $ 1,051 54,879 55.930 $ 1,051 54,87<) 55,930 EXPENDITURES: Cu.rrent: Highways and streets Community development Total expenditures Net change in fund balance FUND BALANCE: Begiruung of year End of year 112 Actoa I Amount~ $ 334 60,385 60,719 35,52<) $ 39,125 Variance with Final Budget- Positive (Ne¡>;ative) $ (717) 5,506 4,789 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances· Budget and Actual· Dougherty Landscape and Lighting Special Revenue Fund For the year ended June 30, 2004 Budgeted Amounts Original Final Variance with Final Budget. Positive (Negative) Actual Amounts REVENUES: Interest Special asses.sme:nts Total revenues $ 350 88,438 88,788 $ $ $ (1,122) (158) (1,280) 1,472 88,596 90,068 U72 88,596 90,068 EXPENDITURES: Curren t: Highways and street._ Community development Total expenditures 91,391 93,478 76,386 17,092 1,250 1,250 1,158 92 92,64·] 94,728 77,544 17,184 $ (2,573) $ (4,660) 11,244 $ 15,904 Net change in fund balance FUND BALANCE: Beginning of year End of year $ 28,318 39,562 113 Interest Special assessments Total revenues $ 223,834 4,683 228,517 $ 223,834 4,683 228,517 $ 1,068 180,702 181,770 $ (222,766) 176,019 (46,747) I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Santa Rita Assessment District 97-1 Special Revenue f'und For the year ended June 30, 2004 Budgeted Amounts Original Pi.nal Actual Amounts Variance Witll Final Budget· Positive (Negative) REVENUES: EXPENDrrURES: Current: Ili¡;hways and streets Community development T olal expenditures 233,768 233,768 192,808 40.960 1,250 1,250 1,179 71 235,018 235,IH8 193,987 41,031 $ (6,501) $ (6,501) (12,217) $ (5,716) Nel change in fund balance FUND BALANCE: Beginning of year End of year 102,532 $ 90,315 114 I I I I I I I I I I I I I I I I I I I City of Dublin Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Dublin Street Lighting Assessment Special Revenue Fund For the year ended June 30, 2004 58,812 58,812 35,065 21,747 2,750 2,815 2,815 61,562 61,627 37,880 21,747 $ (16,070) $ (16,135) 6,839 $ 22,974 Bud¡,,,,ted AT11ounb¡ Original Final REVENUES: $ $ 2,U19 43,473 45,492 Interest Special assessnlents Total revenues 2,019 4-1,473 45,492 EXPENDITURES: Current: Public safety Community developnH:~nt Total expenditures Net change in fund balance FUND BALANCE: Beginning of year End of year 115 Actual Amounts $ 985 43,734 44,719 97,613 $ 104,452 Variance with Final ¡judget- Positive (N"gahve) $ (1.034) 261 (773) 116 I I I I I I I I I I I I I I I I I I I This page intentionally I~ft blank. I I I I I I I I I I I I I I I I I I I INTERNAL SERVICE FUNDS 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 basj~. The City has e~tablished four of these types of funds: Equipment Replacement, Fire Equipment and Station Replacement, Building Replacement, and Retiree Health Care. 117 Current assets: Cash illld inveshnenh Receivables: Account. $ 1,611,277 $ 1,434,746 $ 1,347,564 $ 3,863,918 $ 8,257,505 12,188 12,188 1,623,465 1,434,746 1,347,564 3,863,918 8.269,693 6,842,037 6,842,037 2,019,588 2,019,588 43.619,117 43,619,117 2,056,635 2,495.147 428,100 4,979,882 (1,426,944 ) (1,003,457) (8,518,308) (10,948,709) 629,691 1,491,690 44,390.534 46,511,915 2.253,156 2,926.436 45,738.098 3,863,918 54,781,608 I I I I I I I I I I I I I I I I I I I City of Dublin Combining Statement of Net Assets Internal Service Funds June 30, 2004 Equipment Replacement Pire Equipment and StatiDn Replacement Building Replacement RetiT"" Health Care Total ASSETS 'J'ntal C1,.Jrn.~nt assets NOllC'urrent assets: Land Construction in prnL'Tes~ Buildings and improvement' MachineTY and equipment Less; accumulated depreciation Total noncurrent assets T olal a 58els LIABILITIES Currenl lia.biIities: Accounts payable Tolal liabilities 19,312 19,312 17,483 "17,483 552 552 15,222 "15,222 52,569 52,569 NET ASSETS Invested in capital assets Unrestricted Tolal nel assets 629,691 1,604,153 $ 2,233,844 ],491,690 1,4] 7,263 $ 2,908,953 44,390,534 1,347,012 $ 45,737,546 3,848,696 $ 3,848,696 46,511,915 8,217,124 $ 54,729,039 118 I I I I I I I I I I I I I I I I I I I City of Dublin Combining Statement of Revenues, Expenses and Changes in Net Assets Internal Service Funds For the year ended June 30,2004 Fire Equipn\ent Equipment and Station lIuilding Hetiree Replacement Replacement Replacement Health Care Total OPERATING REVENUES: Charge(ol for serviç(~$ :;; 840,328 $ 210,494 $ 190,796 $ 449,145 :;; 1,690,763 Other revenue 18,207 18,207 Total operating revenues 858,535 210,494 190,796 449,145 1,708,970 OPERATING EXPENSES: Supplies and services 271,496 17,483 7,649 119,189 4"15,8"17 Depreciation 493,294 166,275 1,379,456 2,039,025 Total operating expenses 764,790 183,758 1,387,105 l19,189 2,454,842 Operating income (loss) 9:1,745 26,736 (1,196,309) 329,956 (745,872) NONOPERATING REVENUES: Gain on disposaJ of assets 166,113 166.113 Interest incom.e 12,688 12,616 11,948 35,229 72,481 In<ome (loss) before contributions 106,433 :19,:152 (1,018,248) 365,185 (507,278) Contributions 86,414 887,197 973.611 Change in net assets 192,847 39,'\52 (131,051) 365,185 466,333 NET ASSETS: Begirming of year 2,040,997 2,869,601 45,868,597 3,483,511 54,262,706 End of year $ 2,233,844 $ 2,908,953 $ 45,737,546 $ 3,848,696 :;; 54,729,039 119 City of Dublin I Combining Statement of Cash Flows I Internal Service Funds I'or the year ended June 30,2004 I Fire Equipment I Equipment and Station Building Retiree Replacement RepJa.cemerlt Replacement Health Care Total CASH FLOWS fROM OPERATING I ACTIVITIES: Receipts from custorners $ 834,370 $ 210,494 $ 190,796 $ 449,]45 $ 1,684,805 Payment. to ,upplier' (273,473) (15,318) (121,182) (409.973) I Other 18,207 18,207 Net cash provided (used) by operating activities 579,104 210,494 175,478 327,963 1,293,039 I CASH FI.OWS FROM CAPITAL AND RELATED fINANCING ACTIVITIES: I Contributions 86,414 887,197 973,611 Capital asset disp"sals 2,095,245 2,095,245 I Capital asset. pmchase, (231,998) (2,982,441) (3,214,439) Net ca,h provided (used) for capital and related financing activities (145,5M4 ) 1 (145,583) I CASH FLOWS FROM INVESTING ACTIVITIES: Interest received 12,688 12,616 11,948 35,229 72,48"1 I Net cash provided (used) for investing activities 12,688 12,616 11,948 35,229 72,4Ml I Net increase (decrease) in cash and cash equivalents 446.208 223,1l0 187,427 363,192 1,219,937 I CASH AND EQUIVALENTS: Beginning "f year 1,165,069 1,211,636 1,160,137 3,500,72(, 7,037,568 I End of year $ 1,611,277 $ 1,434,746 $ 1,347,564 $ 3,863,918 $ 8,257,505 RECONCILIATION OF OPERATING I INCOME (LOSS) TO NET CASH PROVIDED BY OPERATING ACTIVITIES: Operating incnme (10"') $ 93,745 $ 26,736 $ (1,196,309) $ 329,956 $ (745,872) I AJju,tments to reconcile operating income (10",) to cash flows from operating activities: I Depreciation 493,294 166,275 1,379,45(, 2,039,025 Net effect of changes in: Aexounts receivable (5,958) (5,958) Account, payable (1,977) 17,483 (7,669) (1,993) 5,844 I Net ,ash provided (used) by operating activities $ 579.104 S 210,494 $ 175,478 $ 327,963 $ 1,293,039 120 I I I AGENCY FUND I I 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 ref,ulations. I Dublin Boulevard Exte115ion Assessment District l'und - To account for the special assessment established to fund the improvements to Dublin Boulevard. I I I I I I I I I I I I I I 121 City of Dublin Statement of Changes in Net Assets Agency Fund June 30, 2004 Balance Balance July L 2003 Additions Deletions June 30, 2004 Dublin ßou.levard F.xten8ion ASSC88Q'1ent District Assets: Cash and in.vesbnentr.; $ 189,493 $ 240,699 $ (231,584) $ 198,608 Rcslricted cash and inve~tments 172.312 467 172,779 Accounts receivable 5,734 (5,734) Total assets $ 367,539 $ 241,166 $ (237,318) $ 371,387 LiabiJitieR: Due to bondholders $ 367.539 $ 235,181 $ (231,333) $ 371,387 Total liabilities $ 367,5-39 $ 235,181 $ (231,333) $ 371,387 122 I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I STATISTICAL SECTION Thß' page inte.ntionally le.ft blank. I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I CITY OF DUBLlN ASSJjSSED VALUE OF TAXABLE PROPERTY tAS'!' TEN FISCAL YEARS Utility St.te Unscçurcd FÜ;cal Year SeCl1red Property Board Roll PTOperty Tot. I 1994-1995 $ 1,426,206,284 $ 4,497,120 $ 97,359.845 $ 1,528,063,249 1995-1996 1,434,712,474 4,024,540 94,522,217 1,533,259,231 1996"1997 1,519,119,484 4.028,118 115,801,947 1,638,949,549 1997-1998 1,565,651,517 2,395,606 114,868,090 1,682,915,213 1998-1999 1,782,911,790 2,395.606 115,129,665 1,900,437,061 1999-2000 2,220,04M42 2,395,606 131,207,312 2,353,646,360 2000-200] 2.869.933,657 2,636,107 132,417,225 3,004.986,989 2001-2002 3,566.460.426 2,636,107 155,881,185 3,724,977,718 2002-2003 4,137,814,3S1 1,016,256 ]69,574,548 4,308,405,185 2003-2004 4,679,462,555 1,016,256 190,848,472 4,871,327,2S3 Source: Alameda County Office of the Auditor-Controller (AU figures shown Me net of "Xenlpti0118.) $60 '.""".""""'""','''''"'''''',' $5.0 - :!! $40 0 m = $3,0 - r! .!!! $2.0 0 c $1,0 $0.0 -----.-.-..-..--."..-....,..- -.----.------- - .-....-........." --....--...-- Assessed Value of Taxable Property n... ...,.,..". . . __..., ,. ._.....____.._... .'''..._ _._....... . n... _."...."...... ~ A- P.J'Q ,,~> ,,~- "q¡ P.J~ P.J'Ö A-' "Q) "q¡ ,,~- P.J<? "q¡ P.J'¢( "q¡ rfJOJ '\ P.J<if "Q) ¡::,() ¡::," ,,<::5 Çj P.J'v ~'"Ç "OJq¡ <),~ Fiscal Years ¡::,<), ¡::,"J Çj Çj ,,~ a:<¡; ",<§J <fJ() ¡::,~ r.? ",ç$> .-.--- --.,..--.,---... U3 CITY OF DUBLIN SCIlHJ)ULE OF 1993 CERTIFICATES OF PARTICIPATION COVERAGE FISCAL YEARS ENDED 1994-1999 D~bt Servíce ReQuirement Direct Operating Net Revenue fiscal Gross Ex pense' Avai1able fur Year Revenue (1) (2) Debt Service Prindpa1 Interest (3) Total Coverage 1993·1994 $ 1,564,715 $ 12,S74 $ 1-551.841 $ 910,000 $ 622,816 $ 1,532,816 101.24 % 1994-1995 1,565,843 18.821 1,547.022 645,000 908,744 1,553,744 99.57% 1995-1996 1,594,060 18,518 1-575,542 705,000 916,027 1,621,027 99.70% 1996-1997 1,592,322 4,211 1,588,111 730,000 887,518 1,617,518 98.18% 1997-1998 1,598,447 8,385 1,590,062 765,000 R56¡:151 1,621,351 9S.07% 1998-1999 1,671,633 518 1,671,115 920.000 935,707 1,855,707 90.05% (1) Gross Revenue includes Facilities Rent and Interest Income. (2) Direct Operating Expenses excludes Interest and Depreciation. (3) Excludes Amortization of Bond Discount. Source: City of Dublin Annual Financial Report Note: Available reserves from the General Fund were used to retire the remaining $13,850,000 outstanding on this bond issue on February 1. 1999. 124 I I I I I I I I I I I I I I I I I I I I I Cm' OF DUBLIN ("OMPUTATION OF DIRKï' AND OVERLAPPING DEBT June 30,2004 I Perœntõl~ Applicable t-!.City~)f Dublin Net Debt Oul'ltändinf: Applkõ\bk tQ CilyofDublín Jun:ol~Îdil.m. _._-~ I OVI;]U ,AI'I'IN{:TAX AND ^'·>S¡;~MENT DEBT: Dublin Joint Unified School Dislrict l.ivl"rmJr(' Võ\tlcy Joint Unified School District W.677% $ 38,331,278 0,1]7'70% $ 33,279 0.2700% $ 21i:1,7'-:14 2.314U% $ 3,544,585 100.0000% $ 1.,1&2,00n $ 43,580,936 I Castro Valley Unified School Di¡¡Lrkt East Day Regional Park D.I:!Itrict I City of iJublin 1915 Ad t!ond.s TOTAL OVERLAPPING TAX AND ASSES,sMEN'r ¡)1"~B'r I DIRECT AND OVERI.APPINC; c'HNH~AI FLrf'ijJ,Qt\l..l(;ATlc)N'".I.JgLiT; Alameda County General Fund Obligation.'! ~i.~91% $ 20,44S,4t1!:ì :1894% $ l:1,AA9,R2'1 3.894% S "107,280 0.003% $ Mil 8.51'1% $ 761,309 0,/,)77% $ 1,359 $ 35,205,830 $ 1H,7B6,166 I AJameQi'l. (;o\lnty Pension Obligations Alameda CouJ.\ty f¡up~rir\h~ndl~lI~ ()f t'>::nooh ccrtific<:ItC's of Particip<:Ition AI¡1m\'d" - COfltra CQst<:l Transit District CertiIical.es of Part¡dpalion I Olðbot-I..aß PO£¡f:¡¡~CL)mTr'1LJI1ity (":!"IJcgc I)j:;trkt Certifimtes of Particip:1tion Cash"o Valley Unified School DistJ'kt C~l'tHil'õ:I.!~." ¡)f P;:¡rti~:ip1:lti~m TOTAL DIREÇT AND OV':I~r,AJ'I'INGCENUR^LFUNDOBLIC:^TION DEBT I c.."OMBINEDTOTAL DEBT !!!!..l~~ 10 Assessed V ;11.iatitll'l~ I TotnI Overlappu1.8 Tax a.nd Aasessme.nl Deht. Combined Total ~bl o.W:I'% 1.78% I SI·A·I'I; !':;CtH")( }L,I;!.V,Il.-I...1.ING ^ID REP.J..\.Y l\.PI,.E.~ OF 6/30/2004~ $0 (1) Excludss tax and revsnus anticipation natea; revenue, marlg~ge revenue ~nd ta" aQçaUQIl bond~ ;SInd non- Dor1(fe(f capital hJdSð obligation;. I Source; California. Municipal Sta.tlsltc$. Inc. I Direct and Overlapping Debt I Alameda Cou nty 44% I I I City of Dublin 2% Other Districts 4% I .........-..""-...... 125 126 I I I $ 4,87l,327,283 I $ 70,891,008 $ 4,942,218,291 I $ 741,332,744 I 0.00% I I I I I I I I I I I I I CITY OF DUBLIN COMPUTATION OF LliGAL DEBT MARGIN June 30, 20(J4 Assessed valuation: Assessed value Add back cxempt real property Total Assessed Value [,egal debt margin: Debt limitation - 15 percent of total assessed value Percent of debt linùt authorized and issued Source: City of Dublin Finance Department Exdudes 1915 Act Bonds since they are not General Obligation Debt of the City of Dublin. I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN DEMOGRAPHIC STATISTICS I~AST TEN FISCAL YEARS City Rankin Alameda Population Size of Fi,cal City ColUlty %of California Year Populalion Population County Citie~ 1994-1995 26,581 1,362,893 1_95% 228 1995-1996 26,267 1,356,102 1.94% 226 1996-1997 25,544 1,371,793 1.86% 225 1997-1998 26J25 1,401,227 1.91% 224 1998-1999 28,707 1,43-3,309 2.00% 222 1999·2000 32,519 1,434,162 2.32% 205 2000-2001 32,570 1,474.143 2.21% 209 2001-2002 33,520 1,486.618 2.25% 209 2002-20m 35,545 1,496,218 2.38% 204 20æ-2004 38,330 1,494,493 2.56% 193 Source: State of California Department of Finance - Population [{esearch Unit Note: The City's Population for Fiscal Year 1999-2000 was adjusf.cd downward based upon the 2000 U.s. Census City Population 40,000 - 38,000 36,000 34,000 CIJ N iñ 32,000 c o :¡:: 30,000 .. ::I 0. 28,000 Q 0. 26,000 24, 000 -------------~--.,.-,-----.-.------------------------------------,-------.------"-.-------.-,-------... '. '..- ... --.-------------------------- 22,000 20,000 PJ~ PJ'ò ~ PJ~ "C!i "C!i "C!i "C!i _bt ~ JH (\' q¡'-!f q¡C!i q¡")- q¡q, '" '" " " PJq, ¡::¡I;,) ¡::¡" ¡::¡'1- ",,"> "çj>< "C!i "C! "C! "C! ",,- ~'-' 'it! Rfv 'i::fv ,,-,v (1: V f':f "q,OJ "q,()j ,pC! ,pI;,) ,pI;,) "'~ Fiscal Year 127 CITY O~ DUBLIN (:i{)V~R.NMENTAl EXPENDITURES BY fUNCTION ALL GOVERNMENTAL FUND TYPF.S LAST TEN FISCAl YF.ARS Fj:KEl.1 Ge~1'::!I1 I;~ilities HI~õ!lltll¡,nlj Ilignwnys Communily Ctùlutt~lil'ld Capitl!ll Year Gùv~mm~nt Renls Publk Saf~ty Wclf~T"(' mld Streets ~ ..£.ev€lopü.\.:!lll I.I~i~.II:~ Outlay ~-'~~ --- 1991-199.'1 $ 1,488,844 $ 1,55:'1,7<14- $ 6,325,219 $ 696,817 $ 944,564 $ 1,.354,796 $ 1,76[1,990 $ 1,370,902 lW~·1996 1,392.265 1,604,480 6,986,737 1.18:~,9::¡:~ ],043,009 1,832,754 1,811,n( 3,338,607 19%-1997 1,691,'n4 1,496,816 6,%$,91:2. 734,423 1-059,275 1,';I~:¡O,n::¡ 2.,007,715 2,552,1;112 1997-199R 1,761,818 1,19j,::¡4R 8,566,630 764.,9'19 I,09U,290 ~,824,242 2,172,122 2,.2t9,989 1 !,I1,JR-1 999 2,139,738 1,614,4(7 9,145,346 851,699 ],24U,I7t 3,664,(125 2,218,5H1 4,617,733 1999- 2n(O 2,274,914 9,892,983 893,254 1,5I)4,IJ50 4,138,916 2..827,621 1.'3,052,015 2Ix.m·200l 3,085.725 10,960,642 l,l:¥.I,:-\W J.,446,053 4,572..981 3,:t~2,42' 12,077,482 2001-2002 3,929,919 12,52..'~,19'7 1,1.%,457 1,546,347 4,678,311 4,012,730 16,405,:~501 2002-2003 4,363,241 B,W6,HO 1,352,083 6,08O,91i1 5,399,648 4,611,564 1.9,5:m,610 2OI.t~-2004 6,193.881 17,222,501 3,762,260 2,072,806 6,363,727 S,Ma,102 15,376,691 $lJ\U'<:e: <..."ity ol Dublin Annl.l~ll;iJ:1D.n<inl Reporl ~ /I t: ,£1 :¡¡ t: ~ I!! $30 ..!! Õ c Total Expenditures $70 $60 --"..:'A·_____~-~----------~-C-----~______'··_···____~________'_____~__~______~____________...... $50 $40 " "U AU A -- --- -- .'-- -- -'--- -' --- "~- - - -" . ",""" . c ___~__ _~-~~--~-~-----~-~-. _ ,-- '_ ____,,__ --------~----~-~--- -. - ..~---------.---------------- -- -.~--. $20 $10 $0 .ø.0 * ~ ,,~. ,,0., ,,0., ,J>t fJ fó "q;J "OJo., ....OJo., PJ'ò PJOJ ,,OJ ,,0., :\' fó OJOJ OjR> " " # f;)'>J" é" f;)'>J~ f;)~ g¡'C ~'C ",'C a:'C r.r'C ....q,o., <¡,\S"' <f''>J <¡,'>J'>J <¡,'>J'>J Fiscal Years ". PrilK,'ip.!!1 Tota1 $ 15,500,876 19,22ft89~ 18,442,500 20,893,718 25,521,100 251,004 ~ti,8:H,'57 :~01,on4 36,9}5,707 251.,004 44,543,319 65,294.,200 56,089,%6 o Principal II Capital Outlay II Culture and Leisure ¡¡ Community Development 8 Highways and Streets II Health and Welfare III Public Safely II Facilities Rents Q General Government I I I I I I I I I I I I I I I I I I I I I CITY 01' DUBLIN PRINCIPAL PROPERTY TAXPAYERS (Based on Secured 2003/2004 Tax Roll) JUNE 30, 2004 I Taxpayer Assessed Value l'ercent of Total Assessed Value I 1 'IoU California II Limited Parlnerslùp 2 DCA Corporate Center I J.C 3 Acre Dublin LLC 4 Shea Homes Limited Partnerslùp 5 nere Island Properties LLC 6 Capital Pacific Security Trust 7 Cisco Systems Inc_ 8 CSDV Limited Partnership 9 Chang S_ Un 10 Bit Investment Elevcn I.!mited Partnership $112,384,909 110,430,300 103,445,2.18 77,510,390 74,974,598 62,228,930 56,150,000 54,500,000 53,761,387 51,023,507 2.27% 2.23% 2.09% 1.57% 1.52% 1.26% 1.14% 1.10% 1.09% 1.03% I I I $756,409,259 15,30% I Source: HOL Coren & Cone, Alameda County Assessor Combined Tax Rolls I .-------...--- -..--..--- Top Ten Property Taxpayers Assessed Value I I Shea Homes Limited Partnership $77,510,390 Bere Island Properties LLC $74,974,598 Capital Pacific Security Trust $62,228,930 Cisco Systems Inc. $56,150,000 I ¡- Acre Dublin LlC $103,445,238 CSDV Limited '---.- Partnership $54,500,000 I I I --______Chang S_ Lin $53,761,387 I DCA Corporate Center LLC $110,430,300 TOil California II Limited Partnership $112,384,909 Bit Investment Eleven Limited Partnership $51,023,507 I I I 129 CITY OF IJUIJUN PROPERTY T AX RATES AU, DIlŒCf AND OVERLAPPING (;OVERNMENTS t,AST TEN FISCAL YEARS I I Basic Dublin County 5<\1\ Wide !:lay Area East Bay Ramon Ala.meda TútalRatE! Fi.':i(''¡¡' Levy School ~Iood Zone Rapid Parks Sel'Viœs County Per $1000 Year ($1($100) )istricts StatC!Bum.l!:i Transit Bond Distrkt Library Valuatiúll 1 \/94·1995 1.0n00 0.0799 0.0166 O.(r.235 0.0066 0.OnS7 1.132.1 1995-1996 ¡mOO 0.n648 0.0l9J n.n230 n.0094 (),0057 1.122<1 1996-1997 I.nOOO n.n858 0.0187 0.n225 n.n08n · n.0056 1.1406 19<)7-1998 1.Dnnn 0.0831 0.11178 0.0220 0.1J081 · O.lX)49 1.1359 1998"1999 1.0000 0.0727 0.Dl63 0.0167 n.M2 0.0057 1.12(](i 1999-2<J{)() 1.0000 n.OS:\4 0.0145 0.0065 1.0744 2()(){)"20111 1.()(J()() n.n534 0.0145 n.OO65 1.0744 2001-2002 I.nonn n.m76 0.0158 O.OO(}5 1.n5"" 2n02-2003 l.nooo ().O429 n.n145 0,001}7 · 1.0631 20113·2004 1.0000 0.0429 0.m45 0.0057 l.n<i11 Source: Alameda County OfficE! of 'I he Auditor-Controller Rates Shown for T¡:¡x Code Area 26-001 which repr€5e'1t5 the largest portion of property taxes <..:ulleded in the Ci(y. *No lonß€T assessed, bonded debt fully repaid. I I I I I I I I I Property Tax Rates I $1.16 $1.14 $1.12 $1.10 $1.08 .... ~ $106 Q a. $1.04 <II ~ $1.02 $1.00 ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ 0~~ ~ ~ ~ ~ ~ ~ ~. o;¥ ~ fa' (\- fI:f % ~ ,,_v a:'Þ f'f'Þ "q) ,,0;<::[, "O;OJ ,,0;0; ,,0;<::[, "O;q) rr r¡"Ç)Ç) r¡"Ç)Ç) ~Ç) ¡:; o :¡:; CU ;;¡ ~ o o q I I I I I I Fiscal Year 130 I I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN PROPERTY TAX LEVIES AND COI.LECfIONS LAST 'fEN FISCAL YEARS I'crœnt of Total Total Tax Property Tax Property Tax Collected to Fiscal Year Levied Collected Tax Levied 1994-1995 3,836,151 3,614,558 94.22% 1995-1996 3,833,915 3,614,671 94.28% 1996-1997 3,921,70:\ 3,713.665 94.70% 1997-1998 4,184,413 4,074,407 97.37% 1998-1999 4,198,501 4,517,234 94_14% 1999-2000 5,765,531 5,499,897 95.39% 2000-2001 7,333,2'15 6,959,769 94_91 % 2001-2002 9,187,641 8,655,872 94.21 % 2002-2003 10,732,663 10,142,650 94.50% 2003-2004 11,858,495 II ,826,609 99.73% Source: HDL Coren & Cone and Alameda County Office of the Auditor-Controller .--..-....-.. - ",."....... Property Tax Collection $13 $12 --------------------------------------.. $11 õi'$10 c ~ $9 ~ $8 c :::. $7 f! .!!! $6 Ö C $5 $4 $3 -<0,"> ¡;¡,'ò ........ ....ç; ð ¡;¡,'d "ç;J ~ ----------------------------------------- ¡;¡,'\ ¡;¡,'ò ¡§> Æ> ....ç; ....<1; ....<1; <;¡,<S' ",<0 -<0,'\' -<0,'11 ",Of ....<1; ........ .......- ....q¡ ¡:,.... ¡:,'l,. ¡:,'ò ~ G G G f;j"' ¡y'V ",'V ~:v r,-'V ¡:¡ .J:\ ¡;" ¡;, ..p; 'F 'l,.G 'l,.G Fiscal Year .--......-"'.-.-... ..--..-.....-...- 131 $50 . . '" .' '" " , ,:,.' .____ _ _~__~_ ::.~~~----_,- _ _ _ _ _., I J.. _ ,._ _~-~~~-,-~-------~- _ _______ _ _ _ . _ ~,","~ .~ " . ',_ ~ _ _~__ _ _.. '_ ~~-----'--- . Commercial ....... Residential I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS LAST TEN FISCAL YEARS Tutal Number of Corrunercial Residential Piscal Permits Construction Construçtion Year Issued Value Value Bank Deposits . 1994-1995 739 6,718,045 2,368,943 549,989,000 1995·1996 814 4,927,911 15,638,274 568,924.000 1996-1997 790 6,855,980 64,610,527 611,507,000 1997-1998 1020 29,159,270 83,205;153 641,921,000 1998-1999 1552 93,428;185 135,438,240 684,749,000 1999-2000 2521 107,242,721 180,258,804 715,313,000 2000-2001 1828 113,618,557 155,286,401 809,281,000 2001-2002 1015 63,476,079 123,149,627 900,670,000 2002-2003 1157 46,448,163 178,361,169 980,220,300 2003-2004 1154 18.575,621 242,563,776 Not Available Source: Findley ¡{eports, Inc. and City uf Dublin Building Department Status Reports . Bank Deposits represents the amount of cash deposits held by financial institutions within the City of Dublin. Property Value - Commercial vs Residential $300 ~~...,.--- $250 ". . , ' , ' , ----- '--:- , , - .' ", ., c - - - C-, ----------,- --7 --", -- -- -.:" ; :'; , '" ,"." ~,~~--~-'----"-- - ----~___ - '~- --~-7," --'~ - -- _ "' ,. . - UJ g $200 :e ¡;; $150 - ~~--_.----'-------_::'_--------- -- - ,-."...',. ."-~-~~ f!! .!!! $100 o C $0 oJ'J~ OJ~ OJOJ'\ OJOJ'ò q,rf/J RJ(:;,(:;, RJ(:;," (:;,1èI<¡" ~::P~ RJd" ~.... ~.... 'if.... ~,.... &:I.... ?f"t Rf"t ,,~ a:"t f'f"t "q)"O "OJ'1i "cf!J "OJOJ "OJ'1i "OJOJ <¡..dJ <¡..1èI1èI <¡..1èI(:;, <¡..ç§:> Fiscal Year .. .. Ai· ----.-.'"...._.____:!'______~______.--.-~-.:--.-m.. . e., -----.._.....-..-------_--..-.._-------------.--........._.__._____c__c___ . . . 1:\2 I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN CENERAL GOVERNMENTAL REVENUES BY SOUU.CI:: ALL GOV~RNMFNT^I. lõUND TYPES I,J\ST TEN FISCAL YEARS Dt'vdopcr Property T'!.)it·~ fel's and I Spi.'(:i,d Liœn.'>t'!~ ,8,[\d Intl;'r" Ch"rgesfor Use of'Money F¡ne~ I Oth~~ Fi!iCalYear A$:;\:,$:;mcnl:::; Sales Taxes Oilier Tax!:'!:'! Pt;!tmit:¡. GúvernIJV.:nt."1.1 Services and Property Rt;!Vt;!¡'II.I,t' Tolal 1994-1995 $ 4,307,753 $ 6,470/287 $ 772,630 $ 337,551 $ 2,375,377 $ 1,798,343 $ "I,2'1O,RRS $ 648,497 $ 17,Y21,.32î- 1995-1996 4,185,7:31 6,76U,41J 1,006,729 466;J 99 3,674,n9 3,5%,oou 1,376,647 "IRO,l30 21;145,9,," 1996-1997 4.164,RfH 7,lú8,596 1,~O,578 1/092, un 2,091,210 2,789,2:16 1,5{5,~8 309,16'[ 2tV.41,8Jti 1!J97-199~ 4.628,20"1 8,02.5,44$ 1,536,247 1,398,677 2,159,609 4,().1S,06..'1, 1,670,l0\75 598,977 21,Oñ5,OÇI'! 1998~ 1999 5,119,268 8,687/09"1 1,771,60'. ?:A72..217 ~633,035 6,447¡9:2R 1,462,691 402,799 28.996,631 "1999-2000 6,::nU,I71 11,548/901 2,414,0131 3,897,965 3,056,557 14,378,621 "l,461,H8 965,709 44,.033,151 2000-2001 7,5.58r~J~ 12,985,986 3,199,"197 3,028,655 4,12~,U90 13,368.815 2,839,691 ?,~7~,215 50,009,588 2001-2002 9,317,3'/6 12)J13,1l1 2,.837,678 2,327,2.51 <,702.t26 25,015,733 3,829,352 79.3,9JO 61,6J6,557 2002-2003 10,644,07-1 13,193,407 ~71J32S 2,.42"1,885 11,412,577 15.876,467 2,848.478 947,179 60,215,192- 20rn-2004 t2,0"I5,509 14,297,705 2,.741,t05 3,090,992 4,942,167 19,245.244 91:18,475 1,424.,249 58,745.446 Sotirç¡;o; City uf Dublin Armual liinancial Report Total Revenues $70 ----~-~',,""' $60 $50- ---,--------~-:"-,--------"---------,----,------,-.. fI <:; o :i <:; ~ $40 -,----'--'------"'-,------'-·----c··-··--·--------: f .J!! Õ c $30 $20 $10 $- P.t~ P.t'<t .&- P.t'b P.tq¡ ,,'15 ,,'15 "v,¡ - ,,'15 ,,'15 pY ~ !Ö :\" flf ,,'15 "o:¡'15 "q¡q) ~q¡ "q¡Oj r::J<::><::> r::J<::>" r::J<::>"V r::J<::>":J # P.¡'''f; i;§? ","f; a;"f; ('f"f; ,,OJ'15 <fi +<::> "V~ "V<§> Fiscal Years 1:',3 · Fines I Other Revenue · Use of Money and Property D Developer Fees and Charges for Services . Inter-Governmental I] Licenses and Permits D other Taxes · Sales Taxes · Property Taxes I _ªpecial_~ssessrnents 1'1>'" ~ -<>'1. fio,'ò ...<5 ...<5 ...W ",' rY 1'1>'d ,{i;f :\. ...<iI' ...<5 ...<iI' ...0,0, fio, ~" --,," fi'1.- o,~ ¡;:,"- ,,- W ~" ~'" fi% .% I'1>V .>5;' ¡:,~ IS' ,,<>; ,,"'- fJ fJ Fiscal Year ¡;:,,,,,'ò ¡;:,d' :;¡;'" i':f'); ¡;:,"" ¡:,'" '); '); I I I I I I I I I I I I I I I I I I I CITY OF DUBLIN TOP 25 SALES TAX PRODUCERS 2002-2003 BUSINESS NAME ßUSINESSJ::ATEGORY Alameda County Auction Arco AMjPM Arlen Ness Enterprises Bed Bath & Beyond Best Buy Cat Steam East Bay Cingular Supply Circuit City Crown ChevroletjOldsjCadillacjIsuzu Dublin IJoctgejNissanjVolkswagenjHyunda Dublin Honda Dublin Toyota Expo Design Center Ford of Dublin Good Guys MeTvyn's Micro Porcelain Dental Lab Old Navy Clothing Safeway Safeway Gas Salc'S Sprinkler Irrigalion Specialists Stoneridge Motors Sybase T J Maxx Target Toys R Us Tri Valley Buick Pontiac GMC Used Automotive Dealers Service Stations A u.tomobile Supply Stores Home Furnishings Radioj Appliance Stor,," PlumbingjElectricaI Supplies Electrical Equipment Radioj Appliance Store" New Motor Vehicle Deak"s New Motor Vehicle Dealers New Motor Vehicle Dealers New Motor Vchicle Dealers LumberjBuilding Materials New Motor Velucle Dealers Radioj Appliance Stor,,' Department Storcs Health Services Family Apparel Grocery Slores Liquor Service Stations LumberjBuilding Ma.terials New Motor Vehicle Dealers Office Equipment Family Apparel Discount Departm(~nt Storcs Spccialty Slores N"w Motor Vehicle Dealers Percent of Total City Sales Tax Paid By Top 25 Ac<OOunt:; ~ 60.81 % Firms Listed Alphabetically Period: April 2003 thru March 2004 Source: Hinderliter, de Llamas anct Associates, State Board of Equalization $15 Sales Taxes ~~._-,._---- .. c ~ :¡¡¡ $10 _______________________________.."u_._____.__.___________________._ e ~ ,g¡ .g $5 134 I I I I I I I I I I I I I I I I I I I Date ofIncorpomtion Form of Government Employeea (City and Contract) Population Area Miles of Streets Miles of Curbs Signalized Intersections Number of Street Lights PARKS AND RECREATION: Parks Acres in Park. Acres in Open Space Number of Registered Voters (As QJ Novemb" 2004) EDUCATION: I. Public Elementary Schools Middle School High School Continuation High School II. Public School Enrollment: December 2004 CITY OF DUBLIN MISCELLANEOUS STATISTICAL DATA JUNE 30, 2004 February 1982 FIRE PROTECTION: CouncillManager 197 Number of Stations 3 38,330 Number of Fire Persollllel 40 14.0ISq. Miles 82.13 POLlCE PROTECTION: 202 Number of Stations 1 60 Number of Police Personnel 48 3,250 COMMUNITY FACILITIES: 14 Dublin Civic Center 106.4 Dublin Senior C-cnter 122 Shannon Community Center Dnblin Swim Center Heritage Center 16,586 Dublin Library 5 1 I 1 4,627 Source: City of Dublin and Dublin Unified School District Rccords -135~