HomeMy WebLinkAbout4.04 FinRptFY93-94&Audit
f,':"
~ \"
.
e
.
CITY OF DUBLIN
AGENDA .STATEMENT
~!TY COUMCXL MEE'F.ING DATE: January 9, 1995
SUBJE C 'll'-..:
Fincill ~i~ncial Report For Fiscal Year 1993/1994 and
,,~AO J Anm.t'cii\u. Aurli t Report
~r (Pr~:aed by:Paul S. Rankin, Assistant City Manager)
~omprehensive Annual Financial Report, dated June
30, 1994. [Separate Bound Report]
~----_..._..-..._...__.._----
EXHIBI'--".q; MMCHEi1~ 1.
/ 2.
/3.
Financial Report (Final), June 30, 1994
Independent Auditor's Management Letter, dated
October 7, 1994.
/4.
Staff response to issues addressed in the
Management Letter.
RECOMI'fENDATlION ~
Receive the Annual Report, including the report of the
Independent Auditor's (Maze & Associates), Receive and
fi~e the Staff response to the Management Letter.
FINANCIAL STATEMENT:
See Report
DESCRIPTIONo: The City of Dublin has compiled and published its
Comprehensive Anmual Financial Report (CAFR), for the fiscal year ending
June 30, 1994. This report includes financial statements prepared by Maze
& AsSDciates, the independent auditors selected by the City Council. The
financial section of the report includes an unqualified opinion issued by
Maze Ii< Associates>. The Audit and Management Letter were also reviewed with
Maze & Associates by a city council subcommittee consisting of Mayor
Houston and Counoilmember Moffatt.
...
The Transmittal .Letter, contained on pages ix - xvii of the Comprehensive
AnnuaD Financial. Report (Exhibit 1), provides a good overview of the
financialJ aativities. This letter focuses on significant trends as well as
major.' obanqes associated with the General Fund. The General Fund
repre~ 1arg"st portion of the City's revenues and expenditures and
thereth:l:ee dbmiI1f.l.ues any changes in the City's Fiscal condition.
In th~ ~; the City Has submitted its Annual Financial Report to State
and Nat1J.:i::m1;eU oxg~nizaticms, which review it for conformance with desired
repor"tii.r~g L'f.t1anmards. FolX the past four years the City has received awards
from bOl.~-ti, Ql~izations:" anal the format of this report was intended to
continue.- '\jet ~lify tlu.te C.uty for this recognition. The organizations
typically: ctOt: no:lrt:announc~ ttb;;a results until later in the year.
The monthl:&, in-h01.lse Fin~b.(.:i.a1 iTeport for June 30, 1994 is submitted in its
"final" for:ml~ (Sxhibi t 2) ':rohj~x. J1e.pmlZt reflects various adjustments required
in closing! tth:ee backs and pftprin<ar t.he CAFR. All budgetary modifications
have been pme,,1.i.iously adopted 1"Dl"' 'lI:b.e C!:.L'Ity council.
Among the cbant,'Je.s presented in the 1994 CAFR is a different format in
presenting the cur.'t.'ent General Fund Fund Balance. The following is a
summary of the Genell"al Fund Equity Balances at June 30, 1994:
.----------------------------------------------------------------------
ITEM NO. -4-.4
COPIES TO: Cory Biggs, Maze & Assoc.
CITY CLERK
FILE ~
, . .\' . ~," . " t" .. ,~-..,.' ,,"'
e
.
GENERAL FUND EQUITY @ 6/30/94
RESEIWED FUND J3ALANCES
InvestmellJts 1b Be Be1.d T<t\l Naturi ty
prepaid Exp~~
$ 13,808,042
11,981
T...TiIIFESERVED mmlND ~CES- ms IGNATED
Liabillj:\J~ 'Ill1n:$lWriBlce CLaims
Cemet~ }l!~nt
E conorrniicWin:om..1tai n ti e$
Au thctr:liz:l&di ~di tures
$ 137,210
60,000
1,369,133
2,325,340
As shown ~ " tilie General Fund Fund Balance includes certain amounts
ideatifiedi ass "RUslEt'Ved" and " Unreserved - Designated". Reserved Fund
BaUmce is used,',1D segregate net financial assets that are not spendable or
avaalable fibr a~ORriation.
Thee larg+aB; remrved portion of Fund Balance relates to Investments.
Pursuant tioc CitlyCouncil direction the City has invested a portion of the
Ci ty porttfiblio in investments which mature in more than one year. The
malluri ty fur i.1liese investments is structured to allow the City the
oppQrtunj..1'.:b tco eliminate the entire Civic Center Certificate of
PaIl'ticipatmn OlUigation in February of 1999. The market value of these
investmenta fluatuates based upon various economic factors. Therefore, it
cannot be assumed that these funds are available for appropriation until
they mature. The auditors have classified this amount as a Reserved Fund
Balance.
A minor reserve> has also been designated for prepaid expenses.
these would be aonsidered assets they can not be readily spent.
Although
The, "designation" of the remaining Fund Balance as "Unreserved
DesignatedW, indicates that the City Council desires to segregate or
earmark these lESOurces for a specific purpose. A brief description of
each designation is shown in the next section.
Insurance Claims - The Liability Insurance designation is intended to
cover catastrophic liability claims. The City currently has a $50,000
deductiible. It should be noted that this reserve does not refer to
property coverage. If the City suffered large scale damage to City
facili~ies such as an earthquake, the City does not have a designated
reserve to I address unanticipated financial impacts of this type of
event..
cemetery Ehdowment The cemetery endowment represents perpetual
maintenance funds transferred to the City by the Dublin Cemetery Inc.
only? tihe interest from these funds may be used to maintain the
cemet1eJ:Jy.. In, Fiscal Year 93/94 this account 'generated $2,299.56 in
inte.J:JS.T.l: raveenle and the City expended $5,408.33 for cemetery
mainttanarme. T1Itis figure is net of internment fees collected and the
diff(Bjsm:a ,,*8fS lIl8de up from the General Fund.
Econcoo:hc:: (L..ycsnti.ainty The City Council directed that any excess
revemlaa: ffimmn lHscal Year 1993/94 be designated for future economic
uncert.m.l.11l.tb~,,, Itr: is; anticipated that the state of California may
face a.. rev1.Imua', sltcn-:tfa:nl iJ.n Fiscal Year 1995/96, which could result in
reduct~onSl in ~~at~ ~ienmes provided to local government. Although
this reseEYU w~Gli n,~ ~~ime on-going financing of City operations,
it woUlld. pJrovide a CUsl'D.ii..vn \i.(Q.' al~()w the Ci ty to develop an appropriate
financing plan t@ address any deteri,cration in revenues not controlled
by the City.
Authorized Expenditures - This category has typically been shown in
~rior audit reports. At the conclusion of each Fiscal Year the City
Council authorizes any excess revenues to be appropriated for future
designated projects. The actual expenditure of these funds still
.,~, ';~,,1\ ~'. J '.,I~i!,?,~,<\,::,".'~~.~;<~~b\II'." ~ ....~~~ '.i:' ~.\ .11:~,,:1";:: ,,'" ;-::'1," q'::'~:,~. '." ,. -". .: '_.:,",;",~A';"";,'
.;.' " ." ;" : /r ~'..wl;"l ,~""\"'-';' ."" ;,'",~'\:;'!Il'll ~h"N'_or~..,''''~/,"L'''''''''''''''''''''''''.'' ".
e
e
~equires an action by the City Council to appropriate the money and to
identify the expense.
In i'iscal Yea"r 1993/94 General Fund Revenues exceeded expenses by
$1,410'0,060. It is; appropriate to highlight some of the factors which have
col':atributed to tl1lJi..s (ntlJtoDme and allowed the City to establish a Reserve For
ECI2larna.c Unce.-rita:i:i.rn'l::i.aeiL
Pl. IM:BC.T ClF1lJlITIAL APPROPRIATIONS AND BUDGET REVENUE ESTIMATES:
An ar:alys:ds of the difference between budgeted. revenues and
e~;mii tures identifies major reasons for surplus funds at the
entd <af the Fiscal Year. Excluding the "'Other Revenue Category"
(dl:lis(C1lssed below) the City experienced on-going revenue growth
al'mwilf the original budget estimate. The primary increases in
reIenues were attributable to increased Sales Tax and increased
IJcttenest Revenue from investments. In Fiscal Year 1993/94 the
Cntty experienced a reversal of prior year trends related to the
detierioration of General Fund Revenues. The General Fund Revenues
had ~een decreasing in both of the previous two years.
T~ largest area of budgetary savings among expenditure accounts
was found in the General Government category. The expenditures
in General Government Activities were approximately $223,470 less
than the Budgeted Appropriations. This was largely the result
of; reduced Legal Expenses; reduced operating costs for telephone
services; and Civic Center Lease Payment reductions under the
refinanced COP. Also, the 1993/94 Budget was adopted assuming
that the State of California would reduce the City Property Tax
by a $826,007 Due to the way the legislation was written and the
City's incorporation date, the City was not as severely affected.
Other one-time budgetary savings are highlighted in Section C
below.
B. IMPACT OF UNANTICIPATED ONE-TIME REVENUES: Approximately $200,000
in ~Other Revenue" was generated from non-repetitive events such
as: (1) Dividends from Workers Compensation and Liability
policies totaled $73,682; (2) The City was reimbursed $79,902 for
legal services related to lawsuits; and (3) The City received the
Cemetery endowment funds.
C. IMPACT OF BUDGETARY SAVINGS: The City also experienced one time
budgetary savings which may not continue in the future. Overall,
operating expenditures were $687,389 less than the amount
appropriated. Examples of one-time savings include: (1) Police
overtime usage was below historical trends; (2) There were Staff
vacancies in four different operating departments for portions of
the year; and (3) There was a delay in the assumption for the
fn~l operation of the Heritage Center.
Pi.. ~D:baft" Mmagement Letter (Exhibit 3) along with the Financial Report
W~lJe reviewEd by the City Council Audit subcomadttee. The Management Letter
cont.'"ii.ns sugestions by the Auditors, for areas where internal control
c:;Qtucu. be 15'tircmgthened. The Audi tors explained to Staff and the
St1lmomrnitteE! t1iat during their review, they did not find any indication
tlifttt the cu%nett~ operations caused any material weakness in the financial
spi:1em:. A:5 aBiscUBsed in Exhibit 4 two of the recommendations ,were
rEEiLa:ei vely min.'Ott ant'lti wel:e 1implemented prior to the conclusion of the Audi t.
sttaJUi intends tt1rD "lI11liart.:~ke tI.he development of a Fixed Asset Capitalization
poillli<.Q{ as a :pa11>it ~1)ff ~.rlt.img. 1the Finance Department procedures.
'i
Staltf recommends that tllllE:-' Ci t<y CcmJroCi.~ receive and file the reports. 'In
the event that ~ere are spec2fic qnestions Staff or the members of the
City C:tWncil Subcormni.ttea will be available.
: '", ... ,:' <."t;.'.:,,'o f: .,"";~'/ .':;: ':,:'''' . ,:'\':<:,i/;'i', \,',?'-, :" "~"'\\:',':}t''''/J:\' ";-~,,:) ::;, " ,,' ":, ' '1" ','" 1'- _ '_,
".,~,f"::, , ~ 'I :,,';', d,I\,",/,"',,;;)~, 1\ ."llt"',:>,
".)' . .. - I' " ',-""i ie"~ ,.,.1 ,- .i."'" .'.,'. ')1 ,,,;'.' 1.\..,1' ',---;,.- ",....,,'.-,.,. ,'" -".; .''1' (
1 I " '-,\''',}--i~5 ",!',; -"~;:T'-': ~:i".; ':: ',.:..,'"..' ,.... .; ""';':::1' ',',' :_".-.';\<:\\ "ii,,: .' '.,'""',,,,:",!!;; I,', "'. ,"". """;;:";'.'" -,.: '-" ,",,' .Vi., , ('...., ",
, .' \ ,.:-,' ,',,' , ,I." _,:'''i'': ',' ":.;""'" ;.",<.(",'" "~-':": t I, '"
'II\:" I.,.';;'~, I ;(,'~ I; ;.".,(1 ! ' ....;. ! '," Ilj ',~ il,.;{! ~ 'l,~:;\,'.\'i!;-:_j:'.;';J" '
, '," ,., j' " '<":,i:!~"; -'~.\":j,(\,\I, ," __"'1'1/:;",';"."", " I',,"
" "",':,':,"'!" ':'1':') ;c;r',":,;~iti,';'I",;,(1 "',1">1,""''':'\ .. ,,"
'IiI".. III')' ':,'~ I " .",'" ',,,/);I'{,:,...;:/I ,: 01' " Ii I,' ',: ",' i, 'I ,,\ "~I'. "["""",,,
-, ! 11 'I I"'''<:'~:'.;'~'/I/~';' , "I." ,\ 1'_'1 I'f,~ "
\ ., 1') ,/,. ,_, I' I I ,! { <'I \ .; :: ",J, ' 1\ 'I' J , , ' . " I, ~ 'I J" < \ > I 1.' ,I
(<,', ',,::;~,-, '.:,:: ",1, :>'..:,;:,'.,', "::::,:i:J}I,;'",, ,~{ :~:,:..':":'i,\~t"""!~~,:;,,,'.;',:::,:'~:'i.":~' ';Du""""'~''''''';,''':\''j'''''')~;;'';; ',',~: ,'-' ';',1':"':'.'
-",, ",. '" :':"';,,, ""',1., II" ;::,.,t".J-,,\};.).r~: I " I" '" t' .'<< ~ ' '" r" ,'I ,I' , ,,' ,,,,",''.;",.;:''''
,,', " ,:;;.:!, 1:.,),,('1, I,"",,' \- ')." ':1'/'''1/',/- ;,," '/.' , - :: ;" ,., ';j,,:;,':..:J,:V'\li' '.
-:i" " '. ,:,i'.: .,\. J;\"'.II"", 1::,1' "1 ,,' , . -; '" " ,,_ I,,, ',I ' ,) ,r' H"" '" ' ,
il:;:~i~;>';~;ri >..:,-~':~V "1.'/';:' ".'t~,;' ~',",~>\\,:;,: -'/LJ~I,,~, r_..: ,. <,~I, 'I~( . ,~~,~:';.;. ,::\~\ (;>}~~:'I.I~I'IJ)T~f~>,ll:"\"'_.
',:,~;; "r' ',:;! ,t/," ;:/i::)~)~\" ~::11"I".JJ;' -(,'0: 1:,:.' '-",,' :':'-~"ST.I""-:_:',L/I,,~;I':>:';:'~':;"'/:i~':'J:;'',:'\'
,L"/, I'>: /.:,!<\, :'~I, ;',;;;\'i 'fJfJ'~ ""I. I'.r~ ""'.r."~"/J..fIP6.::'~~~ I:,\~
'~";':\, .~:~,: '''',{' .;J\i ~, 1- ~," "tr,"\ ~. !' ~~(;'!:""\\i':'1)J" ~'l]:
.~:~1~~<: : :,'10 \,:'.l';;./ J("",~, 11,,\1., ',' ,,, /' '1- I' < rll. I"<~ ,IIJ4-\ 'I~:,;I
>:::. \.>,~~:;'I",I_' )~ ~ J~"t\ Il""~,i'\', J'J'r!)::~~:.'I)\" ("~I'III\(-J~::
I\,:\.:,:{: \,,:,\ ;\':;'~ ~ 'i"'I~ i"1 \I',.'",~I,,!_ .i\ ,,'/," 1\_ I'L'I~~\",\I, .
,:.".1,' !:~.;~" ,\':,\1.:, 'f\r,: '.~';<,.~~-: ;",~~ '<f,~' r 3,~,IY);~,.;1., \'~:t_n, ,"~'\I~~f'f,,~1;';~1;:~ r.
:,..::" ,,,,.'I ':"i,"::: :',:'1,' Ii.' I,," '. 'q" \" ,! ,', ,.. " /", ' .. , "f ",1 ~,," , :'.,;
..:::::'; :':~_;:,' :'J;cl::tY' .":: . ~':::,'~ '::, ~'T >,': .: ~ I :..;~::5:;;: " ' :1 i_;~: ,,', >;;:~ :;1~:; ::/;;'.:' :< (I,! ;,1, r ,'I. ,
':;'t;~>;:l".'-:'~;."!:}; \b~\( <;,l\"i:~:~:\.,\::' .\'}'I)~~ i.~{!\/,':h/,lt'l I~
,I.' \ ~';'1'.,'. \':' :>",.",~>~,.\}V .. \,c . \ ~"~.. \ "I - !~_
.~'. 11, . . I> ~~;,.,:.,; 1\: ;,'; ", ;', -Il ~tl ~(i, '
""'1' .':,~lW.: '
)
! I]
,
"','I,"',"
... ','~I;I\: :... ,
;, " ':!~!;;' i
I
I i'l,.
II' "11 ?::
,~ ,
" t 1.'-'
j/
'::; "C:
,'".;1,;,i.,""\:;,,, ,.t:i,.'",."
"ii ;;,,>,/,,';"; ':'.:::;,',.!'
,:.
,,,
't""l
11\,
;';",
'1~)';\: ':;:'f
';:,'\.'
"~Ii:} '}I' 1:,1
", ""i~.'. "-'.;" ,.,....."
" ;,.-'-1",,":'.;:
,-~ I, :~/ " _. .., ,,' ,
"
',~' / Ii;), i 1 ;:,~'
.',;,yL'::) ":,:):I:
.:':;':.' \.,'-,,' "';"')'.:i '
:) :(;.,
J" ..f....."..
"':1'
:i:
'Y,l:
~ "(~.'I ! 1\1'.
Y"'''?,,':::;:
."i,.':':::::
,; ,~
"i'
.,I"~'\\
::;i.~~
, ...~, ~
,:t~J
~ \1'
, '
! ,.
,I . ..",,: I:!' ;'
)1, I, . '.:....,",'.,,' ':, :i (' ,
.~ "'I ~'i.' .;\\,,'.;1',..:. !~.i..'~~\.
',":"',i)'-!,':i<,;';;! f:;t\::< ',',
""""'1, ;]',:(:;;:' / ",.:.'
:i,,:,,'i:':,'::' . <;;<" t "i: ,i.S';"
. ,,;}.) : '
ii, 't,::, i~;j!:,.i;)}(t:):':
,::i'i::;;;;: '; iial~iY;::~i;,tc,...
, , k2:1ILC,::!};"
'( """\'-"";':'I~~~ ';'"
1, ''.':~' ,,;.'i
',') I ! :j'.1
'): ;
, ,:'i;,
'J.n::::' ,')'~; j'l\ '.
~A': ;-,l:,:l{'~'i:;~,
::;!I~~
4:": "
:':-U""
';:;
j ,
~. ,~.(
, ,,:ji~": i:,:;",",.
IL , t, 1,1 '
-".' "I~:~~:;,(..,_ \,~.;,,;:~I, ._.,L?, ,\,
.' ,,1,','\');':; ,-
.f\ II, 1\' \ I \',;.'
.1\.:.>' ;->
"
" .,/, ,),
'i. tl, :.;- ,I, )! .,' /I" <- ,.,~::.,,,;'
t
, .,,1,.
\1 II r: 'i I ~'
,;",-;,,::,';:';I"~' :.r
, 'L ':'(\I~::>~." I IJ, \ il
II~ ,\ ' t, )<; I ) " , z ' ,I l
," "l'- ,
"I.'
,,1.,)\'.
,\.
\ " ~~ r'
;l,
,<j ."
f I ~ (
I .
.I. .',
I':, f
'. !
,l :
..I ')I
"-'''''
,,'
:"i,)
",:;::',:, ":1
'j'~c.:.i;j:, i'/,-
"'.I ';.1:"
1;,,'"
Jr,\~V',l"""
~~ ~ /) ('
\~'
1,1
'J
; :,)::'"
"i'{,
:::~
':
,t\
1\,
<\
''',,'
'~,i
".,"::
:I'C: :,:~;i:::, ,:.~:;.",;~i:(.:\: t , /J-,
'::'-:",(.'i' ,"-
, ''',':,.:>, ',;''',''''
\":".V I -Y;,:,' ~ ! ,
Ii,":,"'/" ',' 'ii -"<'"
"";".\,.'i,'~'\~'i "/'i:,:\:(' ",,:,'"
" l,,';~: . ;':.'?'\>~,L~;"~;:}?::~~ \ J I: :,\: \
.1,,:.." :'.'.;:),:')'" , \ : '" 0,1
_ 'i" ,t~, ',\;, ;' ;-.""
,':' ':;':';<J':':'",': ~!.,~,,; ': ,".'
':'~;: . :.> ":!,,,':;::::l' I'
;,'..,1\1,:, 1:(
il) :~: :;:,;-<:'" r',..
" "';\,, '{,::,
..,.... ':
\':~t$':'E:i'\: I:: ';'
-\,1.,.;,' ,,,,I ,'i.',',::' ".
"(ii",,:;'"
1i::' >:,i':1 '"
-;;,:'<:':,.,' :i){\ '
,:;,;.,>,,:;";';
',1
'11
I;,
. 'I:;,,:,.!';. "
i:".,', , .-,>"
, l~r~
'. ',,<-,', ",::-.- p;"-i.': .<,", """
.,;;:!, ./;.;"(,", .::-, ',( '--, "
>!i" ''"j., ":', ',,) , 'I I';: , ,
o!>,': '-!";'i':',": :,' 'i' - " i
''-:';'ii''i ,',\',',,' '>::-i./'i"!'" , : '" 'i.
",,", \':' ';'!:i(;;':'i (;,' ,,' ,,;'".
IYi';?:'~~';ii;' ','; '~.' <it:,,\,;.. . 1'_.,
',1'. ~." ":""~;(' :',I;:;:\'I'{\I::::;',):':' 1::':""/ ",: -.'
," "I :/"/- . "),' 'I:'ijl#.(,:, ': ~( <:".>',:..,,',
;". ,I '(I:",;i';'" ...,,:,:; ,'" ! ,
"'-'1'-:"';-\":':'; .,
~,~),?' "
"ii' '3::j;.;,:,': .t'....,
;,'~:':;J;'::,;, ::, , "', \
,i'I...:' '1".".:'::'It::':::'.,, ::, ',"1,
,,;::,:~,;i,:'\:- ;;~::/:(:i,::(:',i, .i';'i:' '~i. ~'fiJ~~,1, I
~\.,).;.:,:I,',!,.l,.<S;f.~~+:::!:I\'\ ,,1,': ,. _ ~;~~~,~:.~
'."""', '-I';,' ", ;,':,:..;''':1;'''';.::',." "
e ','i'",",.',,: ,,<0
'.,,'1 1<,'/;',.,,':;.;
::1:
\1 'l. ~ ~ 'I
-hi Ii:'
,i;;.':'.:
, I";'T
~': ;::<ii~:"'{ , -
,._.'1,
t,'\:
:,,:
.i,'
',\iHI~I'
:11"
:~:f'~i;;:,1
'i,
1::'\:',1,,;:.
,;,}"i':'I' :\:h
~\ ~\ ;1~i. IJ , ,\ :
'1- ;"'''''1''
. -:~l r \1)~~: > If.~ >\
''ef -'
,I 101,
\ ", "
'I~ , I lor
''1/,
7."
"'.
"'"
/',<
~ -',ri<lt~, .::::;
'~/ l'
- ,lfIiI.f' I , '!i;')
";,~""l~,'t(")~:'~.')"..l'~Ir..(.f '. ,,~~1'>~r!.)~.,~I!,~~~;(<"
~j., ,"Ir,,"" \ "I ~ 1\\ #/'1l- i ;t!~,r.. ;~~ \ ~l ,I' 'r'~ \i/'! ,- ;~:i r'..cT.; :'.i:/
> \ 4~" 'I, ;.,~'~~: :?t'j"~7V~~ r \1( '/'\).'" ",1 ',j'" ~ ' ~ /,;:'\,;~ <,
.~-- , " 'l.1 ~ ~"1' 'If. )l'J'I'" I Ii ~ ,I' \4;'1 ," j', ;,-ji:;-I "V:,:
~I":w.:' :~:/^rl";"!~ >,kl':'/'~~\':'- 't,"/\~j' I I .1\,/, .,.,:.~.~J:
",.. '~' ,'I'_f_, P"''I'' ""~" ''1'''''' ", "
,'I, ,,::,~, ~';';;~;'t:~.;.:.. \;:.,.';" f~,~,i:;;i':~;,:~;~::\;~j~;
"L,)!I" -("')"""
V ~ <~~\. '\\' ':1.
';:,:~I,:,r.';' ". '.'
'ii
,:';:'- 'I.',;,;'\~';;
Ir
. ,
f. f~ fl~ ~~J I,,:'r! ;~I
I I ;.-;,(;~~'i. 1>
';~ ~,~,{ Jt:: !' t ~\\
~..;~ "I' i
}\ -, I
,," "I , ' J':: i)-: '
'" ~:Q'i:!r .
~ ;llli;PI~;~
1 ! \~ _ I . I
('I,}.:
)" iH:f~:':~"i:';;:'::~ ,i;,:
;-; ":II'!;',' ';::;/'
."i:i".." i".';\, ,,';"',
I~i;
'~
y
.-
"< (1
~!. ~!
,'I
'!i'.':
'v~ ~
::{,;;
',<"
:".<: j,
''','I,: .;;.i' "I:
I.'''',k;
i,,;
''-'''',;
1"';. ,;,':'
',".:
.-",N.''-'
II,
t,
':?
i;i:
;~
.'.
'""
11/',';/
,i',:..:;-,\'::'
it;'-
-1:;;
-:'"
.,,'
"
~'\ .;.
',''''
;7,'; ,
':'.'>'
\~
,I.
1'\"
i:
It,)~v!~~if;?,:,J
it ;~,'\!
''''.''''
-\'!
1..;",;:,:/",
~j
t :k\:::t /, 'ii:JJ:;'i?';~j;
, '_i,."::",!,)',;'.:::,"'!','( ,"''; ':"i:J';:)~;;
. ,,:~ I' ,,'.:,,' (' "", ;'i"')
:( .' c,,':!,:, '1"," :'; I:' i ^'" '" ";,),;". \?Tt'(;;'" );:;.~",t~j~i "
tr, {,:.:,\I\ ' 1 {, I' I I I !, : ' .)j Ii "^";,,'i -1.1'.1:,>"::.' Ii'" ;' 'J. ;,,; {" !:""~'~"< I
" '"~ .:/.i
.'" ","'.' ','. Ii'-,"'r',7.',
(."
'i,
",
"",'."".
.,'1"--("" '
".'.,r I
"
<Ii
I"/;"::":,,:~:; :(
"
:'~ 1 J
~171
" ;;".
X'
!,,;,
:","'; "
,;;};~j
".'-':'
':":
,
, .':~
l~;
"
1,,::,;::.1 ,if '
'i'." -
'J .{\. ~ '
. r~ '1>\<,
I,~ l-
.". '^\ \
"">
I':
C('" l'
: ,,'A' it.' "
. '-I.'" .-;
'~i
'""\/ '
,;;i:'S;'
'''''i.
,,/,,
~~::-:;. :'
;,\ ..
:i"'.;).
.'".
!,.S
'>_h,
""
.,',,',
:.'1'-"
"..
.>t"
'}.~:,
":
,.,,' , ,,,',
.:::~ ',I.',.
,.'\::.
,;,;"
~'.~, '
",'Ill,
\;.
'<"i;-
~~-,,"\t:i\: ';i::f
~i-'\\' ~~J,,"\i~(.\~~~,;''':;,'''_
~1~~
1:;~j:,T~;~~:'~:Ji ,'~;"
',j/l,',! \ ""'("fJ~ l
L \.1, :t;~J'.)
;;':-,.l,:t:,t,t'
,I'
I."":
,I.:;,'
'; ;ii3j.,:~{."t"i,,,',:,I;,\)'!'~~i)V'j,I.:j~')i'.'~<';::::::I;i'''i{~'''\ ""'1 -- '~"(")"""h""J~""\'-"JF~\"";
',,'," 'I' 'F'..' "y"""'" Ii,"'.', ,'II",p' .,.,,~., 'I" :'.' 'J'"'' "i":\'", " I
,;,ll.{'~\" ,.;\.'I'"\'r/~'~' V'l'''''' \11 KTJ~~ ""~d \' ?'It. "tlM~" ~ ~\< 1 !~ II ~,1I\\(I/ !or
:~,jt..:;:~':.'/ ,\'L','I.'.; -\.:': !.,;"\(Y~/'~~';'''~I:';'f:.~tl):I' ~,;\J1~1"/'-I" ~ 1'"Y!f7;' . )".\j:~J4~\1/ '~';') i '!
_.,..y~~~l.'i' I'll I; i~,..t,"11~ ',' "I,I'~'II)" VI t\ 'I ~ I ~~"I, ~ ~I l,rt '~'I \ t ~t,:!i?)i\6,,1
,I...ji:;',\~.~~. '; ';':.?'<,\\:I~;'::,\i~'I"M\,:",,;:/r,;_,,~,-: ';1" II, " ~ ~L'~IJ~';i,I,\ ..<"/'-'~ :" ,j'''
-,:.: I .J!;/I ,~,t ''''''I/J,I ~~ )1; .;/' ,\.' 'L., I '(I ')!\,~,.\~~, ,\~\\ L,
CITY OF DUBLIN
DUBLIN, CALIFORNIA
COMPREHENSIVE
ANNUAL FINANCIAL REPORT
FOR THE YEARS ENDED
JUNE 30, 1994 AND JUNE 30, 1993
Prepared by
FINANCE DEPARTMENT
INTRODUCTORY SECTION
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Years Ended June 30, 1994 and 1993
Table of Contents
Pa!!e
INTRODUCTORY SECTION
Table of Contents....................................... ........... .......................................................... ............i
Elected Officials and Administration Personnel....................................................... ...... ............. iv
Organizational Chart............................................ .......... ............................................................ v
GFOA Certificate of Achievement for Excellence
in Financial Reporting .................. ....... ... ....................................... ........,.... ........ .... .................. vi
CSMFO Certificate of Award for Outstanding
Financial Reporting........................................... .............. ........................................................ vii
Letter of Transmittal ................................. ......................................... ......... ....... .......................ix
FINANCIAL SECTION
Independent Auditor's Report........................... ...................... .......... ......................... ........... ....1
General Purpose Financial Statements
Combined Balance Sheets - All Fund Types and
Account Groups............................ .............. ............... .............. .......... .................... ...................4
Combined Statements of Revenues, Expenditures
and Changes in Fund Balances - All Governmental
Fund Types.................................................... ..... ................................... ....................... ...... ......7
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual-
All Governmental Fund Types .. ..... ...... .............................. ............ ......:........... .......................... 8
Combined Statements of Revenues, Expenses and
Changes in Retained Earnings - All Proprietary Fund Types ....................................................10
Combined Statements of Cash Flows - All Proprietary Fund Types ...........................................11
Notes to General Purpose Financial Statements......................................................................... 12
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Years Ended June 30,1994 and 1993
Table of Contents
Pa2e
Combining Fund Statements and Schedules
General Fund
Comparative Balance Sheets............................................................... ...........................,..........34
Statements of Revenues, Expenditures and Changes
in Fund Balance - Budget and ActuaL...................... .......... ..................................................... 35
Schedule of Budget Versus Actual Departmental Expenditures............,.....................................36
Special Revenue Funds
Combining Balance Sheets. ..... .......... ...... ...... ....... ........ ......... .......................................... .........38
Combiiling Statements of Revenues, Expenditures
and Changes in Fund Balances.. ...... ....... ............................. .....,............................................. .40
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances - Budget and Actual........:.......:................................................42
Capital Projects Funds
Combining Balance Sheets..................... ..... ..................... ........................................................52
Combining Statements of Revenues, Expenditures
and Changes.in Fund Balances ....... ................................. ......................... ........... ....................53
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances - Budget and Actual.................................................................54
Agency Funds
Combining Statement of Changes in Assets and Liabilities ...................;....................................58
11
CITY OF DUBLIN
Comprehensive Annual Financial Report
For the Years Ended June 30, 1994 and 1993
Table of Contents
Pa2e
STATISTICAL SECTION
Governmental Expenditures by Function - All
Governmental Fund Types - Last Ten Fiscal Years......................................................................61
General Governmental Revenues by Source - All
Governmental Fund Types - Last Ten Fiscal Years......................................................................62
Assessed and Estimated Actual Value of
Taxable Property - Last Ten Fiscal years............................................... ...................................... 63
Property Tax Rates - All Overlapping Governments -
Last Ten Fiscal Years .................................. ........ .......................................... ........... .................. 64
Computation of Legal Debt Margin ....................................... .................. ................................~.... 65
Computation of Direct and Overlapping Debt .......................... ...... ............. ................ ............ ...... 66
Demographic Statistics - Last Ten Fiscal Years ............................................................,............... 67
Property Value, Construction, and Bank Deposits -
Last Ten Fiscal years...................... .'........... ........... ...................,......................,.. ... ....................68
Miscellaneous Statistical Data........................................................................, ............. .................69
Schedule of 1985 Certificates of Participation
Coverage - Fiscal Years 1985-1988.............. ............................................... ......... ..... ..................70
Schedule of 1988 Certificates of Participation
Coverage - Fiscal Years 1989-1994.. ................................................. .......................................... 71
Schedule of 1993 Certificates of Participation
Coverage - Fiscal Year Ended June 30, 1994............................................................................... 72
California Public Employees Retirement System
Funding Analysis - Fiscal Years 1986-1992....................................... .......................................... 73
Property Tax Levies and Collections -
Last Ten Fiscal years........................ .............. ............................................. ............ .................. 74
Principal Taxpayers..........................................................,.................................... ......................75
lU
Vice Mayor
Dave Burton
Councilmember
Lisbeth Howard
CITY OF DUBLIN
ELECTED OFFICIALS
June 30,1994
Mayor
Peter W. Snyder
Council member
Guy Houston
Councilmember
Paul C. Moffatt
ADMINISTRA TION PERSONNEL
City Manager
Assistant City Manager
City Attorney
City Clerk
Chief of Police
Public Works Director
Planning Director
Chief Building Official
Recreation Director
IV
Richard C. Ambrose
Paul Rankin
Elizabeth Silver
Kay Keck
Jim Rose
Lee Thompson
Laurence 1. Tong
Victor 1. Taugher
Diane Lowart
"
~
...
"
"
o
...
W
.."
>
W<II
'"
I- .
,q
l.J
'"
~ '"
;;
..... '"
..... .. ..
.n I- <i:
.. l.J
:J -=
l.J ::: l-
e:;) '" 8.
-;; ... l.J
... 8 ~
" ~
l+- 0 ..
l.J ::E
0 .. l.J
.. '" ,.. ...
N ;:j ... ..
~i ;:; c:; "
u
f-l '" c
I- u .. ..
..... 0 -'" "
-I- "
U .c 0 ..
::>3 .;
...
~
II>
.;
~
::>
<II
..
"
U
'>
I-
"
<II
';
I-
..
C
.. ~
. "
'" u
i~
... "
<II
"
u
c
..
c
...
v
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, 1993
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
~fi~
President
f#7-/~
Executive Director
vi
V)
~
t:.J
~
L L~
I I
OlL1 ")
.?O'
.~ ~
~ ~
o ~
V) g
~ .~
.~ ~
~
LO
I
.~)
'\"""" A
t::S
U
~ ~
t::S
.~
u
.~
~
~
""d
J....t
(,ij
~
"4-1
o
Q)
4-J
(,ij
U
. .....t
"4-1
. .....t
4-J
~
Q)
U
~
I
C"\l
Ol
Ol
~
~
.~
~
~
C)
~
~.8
~"'lj
~ 2
.~ ~
U (J)
;:: CJ)
~ ~
;:: ~
.~
~
~
.~
'-ti
a
~
~
~
a
;::
.~
~
~
~
~
~
CJ
~
.~
\..j
vii
~
~'-d
~ ~
~ tj
~ fro
.S:l a.
'-:: l'U
tj ~
t) ~
~~
~ <::)
~ fr<
.~ ~
~~
~~
.;: .\,)
~i
~i::
.::; ~
.g 5
~ .....
.t; ~
\,) II}
~ ~
;: '-
l:i ~
~ 6 ~
{t:: ~
;: tj
2 ~ ~
II} . ~ C'-l
'";::'-:: ~
.... I-
~~ t::1
._;: ::t
~;:: Ji
~':S ~
~;:
~.-
. ;: '-ti
~ ;:
~ ~
E ~
~;:
;: ~
.S ~
..tt ~
~~
\,) \,)
~ ;:
;: t:i
'- .;:
~:+;
~g
.~ E
.~ tj
...:a ~
ti~
.~ ;:
~.-
~ .if'
...:i
\,) tj
.~ ::t
~~
:S.
~
,.--
.....
;:
'>)
E
tU
~
g
~
'-..>
.;:!
\,)
;:
tj
.;:
~
.....,
tj
.&<
\,)
'j2
~
.S
tU
\,)
;::t
~
tU
~
\:Y
Q
.....
'-ti
tU
....
-tj
.w
~
tU
8
.~
r:.~t\ ~i\;,
liliH!~~'I~~\'\J\'J'\
'I,ll _ 4.. h'll
,I" ,'.'.1- -~ ,11'1,'1)
I.,i'\,.:~\ \y I'/'{'!,/
, .< "
, ~\' ''li;:'1 "'"'"
\~~';' 1[,): ;.L\\ " ','</
CITY OF DUBLIN
Po. Box 2340, Dublin, California 94568 ·
City Offices, 100 Civic Plaza, Dublin, California 94568
November 18, 1994
Honorable Mayor and
Members of the City Council
Presented with this transmittal is the City of Dublin Comprehensive Annual
Financial Report, for the year ended June 30, 1994. The responsibility for
the accuracy and fairness of this report rests with the City.
INTRODUCTION
The format of this report exceeds the minimum requirements and information
typically included in an annual financial audit. The report is intended to
conform to the guidelines of the Government Finance Officers Association.
The data is presented in a manner which is designed to fairly set forth the
financial position of the City. Financial activity within the various
funds are measured to display the results of City operations. The report
contains the necessary disclosures to promote an in-depth understanding of
the City's financial affairs.
REPORT FORMAT
The Comprehensive Annual Financial Report contains information which has
been divided into the following three main sections:
Introductory Section This consists of: the - table of
contents; letter of transmittal; directory of elected officials
and staff; GFOA and CSMFO awards; and a city organization chart.
This section is intended to assist the reader and provide a
narrative overview of the entire report.
Financial Section This consists of: the independent
auditor's opinion; general purpose financial statements and
notes; and combining and account group statements by fund type.
In its entirety this section comprises the annual financial audit
prepared by the City's Certified Public Accountants.
Statistical Section: This section includes both financial
and non-financial data about the City and its operations. The
information provides historical comparisons of key factors.
The information in this Comprehensive Annual Financial Report is prepared
in accordance with Generally Accepted Accounting Principles (GAAP) as
promulgated by the Governmental Accounting Standards Board (GASB) and
includes the report prepared by City's independent certified public
accountants, Maze & Associates, Walnut Creek, California.
AdministratIOn (510) 833-6650. City Council (510) 8:i3-6605 .liiKance (510) 8:13,6640. Building Inspection (510) 833-6620
Code Enforcement (510) 833-6620 . Engineering (510) 833-6630 · Planning (510) 833-6610
Police (510) 8:13-6670 . Public:: Works (510) 833-6630 . Rec::reatJon (510) 833..6645
REPORTING ENTITY AND ITS SERVICES
This report reflects reporting as a single entity for all operations
directly associated and controlled by the City. In addition to, reporting
directly for the City operations , Dublin Information Inc., a separate
legal entity has been included in the primary reporting entity. This is a
non profit corporation originally formed by the City to reduce the cost of
producing and distributing public information throughout the community.
The functions were expanded in 1985 to include financing for the
construction of a new Civic Center. The project was completed and occupied
in 1989. Pursuant to the financing arrangements with Dublin Information,
Inc. the Civic Center project is leased from the corporation, with the City
making annual payments from its General Fund. These annual payments are
used by Dublin Information, Inc. to make principal and interest payments to
the holders of the Certificates of Participation.
The City of Dublin is a General Law city, incorporated In 1982. The City
operates under the Council - Manager form of government. The five member
City Council is the political and legislative body. The Mayor is directly
elected and serves a two year term. The four City Councilmembers serve
staggered four year terms. The City Council is empowered to take actions
in accordance with the General Laws of the State of California. The City
.Council responsibilities include: formulation of City policies, including a
fiscal program; determination of the level of City services to be
provided; and appointment of the City Manager, ,City Attorney and Auditor.
Citizens of the City of Dublin also assist the City Council in forming
government policy. The City Council appoints members of commissions and
committees such as: Planning Commission, Parks & Community Services
Commission, Senior Center Advisory Committee, and Heritage Center Advisory
Committee.
The basic structure for City operations is commonly referred to as a
"contract city." Many of the typical municipal services are provided
through a contract with public or private entities. For example, Police
Services are provided by the Alameda County Sheriff. Street and Park and
Building Maintenance Services are provided by MCE Corporation and other
private contractors. For Fiscal Year 1993-94 the City had a total of 32.5
Full Time positions which provide services as City employees. An
additional 50 positions were employees of the City I S Contractors and were
assigned to work solely within the City operations.
Fire Suppression and Prevention Services are provided by the Dougherty
Regional Fire Authority. This is a Joint Powers Authority formed by the
cities of Dublin and San Ramon. Each City makes payments .for its pro-rata
share of the annual costs associated with the independent Authority.
SUMMARY OF THE LOCAL ECONOMY
The City of Dublin is located at the intersection of Interstates 580 and
680 approximately 35 miles east of San Francisco. The City has a wide
range of housing types available to meet the demands of various employers
throughout the region. The City has a large retail base which serves local
residents as well as those in surrounding communities.
x
The largest employers include: public agencies such as; County of Alameda
Correctional Facility, Dublin Unified School District and United States
Department of Justice Correctional Facility; corporate offices such as
Lucky Stores, Inc. headquarters, and Great Western Bank regional office;
and retailers such as; Montgomery Wards, Target Stores, and Mervyns.
Although the City has been impacted by the economic recession in recent
years, in Fiscal Year 1993/94 some of the City's General Fund Revenues
performed better than anticipated. For example, General Fund Sales Tax in
1993 -94 increased by 8.84% over the prior year. A significant amount of
the City's retail sales are attributable to the auto industry which had
improved sales in the past year.
The future economic outlook for the City is geared towards enhancing the
City's existing economic base, while providing opportunity for further
expansion. There is the ability to accommodate significant new
development projects in the City's Eastern Dublin Specific Plan Area.
MAJOR INITIATIVES
The City Manager served as the staff resource to coordinate a Business Task
Force, which presented recommendations to the City Council. The Task Force
had representatives of the Chamber of Commerce, business owners and
residents. The Final Report assessed the City's assets and opportunities
to compete more effectively in the regional economy. The Task Force
recommended that an Economic Development Manager be added to the City
Manager's Staff in Fiscal Year 1994/95 to assist with development of the
business community in cooperation with local and regional efforts to
support economic growth.
In May of 1993, the City completed and adopted a major General Plan
Amendment covering approximately 10.8 square miles of largely undeveloped
land. Approximately one half of the Planning Area was covered by a
Specific Plan, which was processed concurrently. The adopted plans provide
for a fully integrated community including residential sites, commercial
and employment generating properties, schools, public buildings, parks and
open space. The plans were upheld by the voters in a Referendum Election
held in November of 1994. The outcome of lawsuits challenging the plans
were known in the final quarter of Fiscal Year 1993/94. The legal ruling
was favorable to the City and the implementation of the Plan can now
proceed.
The Parks and Community Services Department completed the acquisition of
the parcels comprising the Heritage Center. The project includes the "Old
Murray School", "Old St. Raymond's Church", and the Dublin Cemetery. The
properties were previously owned by three separate non-profit groups. The
Department has now assumed responsibility for the coordination of burials
at the Cemetery. The City initiated the design process to refurbish the
structures which will increase their usefulness and availability to the
public. The Department also completed a Park and Recreation Masterplan,
which provides direction for development of recreational opportunities
throughout the City General Plan area.
In Fiscal Year 1993 1994
extension of Dublin Boulevard.
the Public Works Department completed the
This project will provide access to a Bay
xi
Area Rapid Transit (BART) train station, which is under construction and is
slated to be operational by 1996. The extension will also provide a
transit connection from the current developed portions of Dublin to the
East Dublin General Plan area.
ACCOUNTING SYSTEM AND BUDGETARY CONTROL
Note 1 contained in the General Purpose Financial Statements provides a
detailed explanation of the significant accounting policies. In general,
for all Ci ty and Agency funds the revenues and expenses are based on a
modified accrual basis of accounting. This means that with certain
exceptions revenues are recorded when measurable and available rather than
when they are received. Expenditures are recorded when the liability is
incurred rather than when it is paid., In the case of proprietary funds
such as Dublin Information Inc., revenues and expenditures are accounted
for using the accrual basis of accounting.
In developing and evaluating the City's accounting system, consideration is
given to the adequacy of controls. Internal accounting controls are
designed to provide reasonable assurance regarding: safeguarding of assets
against loss, accuracy and 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 likely to be derived; and
that the evaluation of costs and benefits require estimates and judgments-
by management.
Annually the City Manager develops and presents a budget for approval by
the City Council. The Budget includes appropriations for both operating
programs and capital improvement proj ects. The Budget is approved on a
departmental basis based upon the identified funding sources. The adopted
accounting procedures authorize the City Manager to transfer budget amounts
between line items within the same Department. Any transfers between
separate Departments requires City Council authorization.
Monthly reports of detailed revenue and expenditures are distributed to
Management Staff for review and assistance in controlling activities and
programs. The City Council also receive summary reports on a monthly basis
identifying revenues, expenditures, and investment activity.
FINANCIAL HIGHLIGHTS OF FISCAL YEAR 1993 - 1994
The financial reports identify that among all of the Governmental Fund
Types the General Fund represents approximately 86% of the Revenue and
85.5% of the expenses. Clearly, the activity within the General Fund
dominates the City's fiscal condition and will be focused on in the
analysis presented in this Transmittal Letter.
The following comparison shows changes in major General Fund Revenue Types
as compared to the previous Fiscal Year:
xii
GENERAL FUND REVENUES
% of Dollar %
Arnt Collected total change from change
Revenue Tvoe 1993/94 current vr Drior vear Drior vr
Taxes $10,457,184 77.07% $ 581,478 5.89 %
License/Permits 340,995 2.51% 59,074 20,95 %
Intergovernmental 945,713 6.97% 25,811 2.81 %
Charges For
Services 580,738 4.28% (439,893) (43.10)%
Use of Assets 935,615 6.90% 56,646 6.44 %
Fines & Forfeitures 34,316 0.25% 9,902 40.56 %
Other 274.339 2.02% 213.962 354.38 %
TOTALS $13.568.900 100.00% $ 506.980 3.88 %
The increase in General Fund revenues posts a reversal of the trend from ,.
the two prior years when the City experienced declines in General Fund
Revenue. The following sections describe changes in Fiscal Year 1993/94
within each of the major categories.
Sales Tax revenue increases were the largest contributor to the increase in
General Fund Tax Revenues. In general the economic trends statewide
improved in terms of Auto and Transportation related retail sales. The
City of Dublin benefited from these conditions. The data was also impacted
by a significant prior quarter tax transfer identified by the City's
independent Sales Tax Consultant. This firm reviews State Board of
Equalization data to assure that sales tax generated within the City is
appropriately recorded.
The increase in Licenses and Permits category is primarily related to
Building and Safety Permits. The City had a major shopping center process
a complete facade improvement in conjunction with bringing in new Retail
tenants. The Stores were not completely opened for business until late in
the final quarter of the Fiscal Year.
The decline in Charges For Services represents the completion of the
Planning Department processing of a Major General Plan study. The City had
significantly less activity in the Planning Department due to the general
economic slowdown, which affected development activities statewide.
As noted the Use of Assets category in the General Fund increased by
approximately 6.44% over the total in the prior year. This increase was
related to improved interest earnings as a result of an increased amount of
General Funds available for investment. The rental of City Buildings and
Fields, which is also accounted for in this category, actually declined by
approximately 20.4% over the prior year. This was attributable to the fact
that the City Council waived portions of the Little League Field Rental
xiii
fees in exchange for improvements to be constructed by the Little League.
Also, rental of City facilities were off from the levels of usage seen in
the prior year.
The Fine and Forfeiture category was positively impacted due to the change
in State Law, which provides for cities to process and receive 100% of the
Parking Citation Penalties. In previous years the revenue was shared with
the County and the process was administered by the Municipal Court.
The "Other Revenue" category also showed a dramatic increase over the
previous year. Since this category is utilized for miscellaneous one-time
events it is typical to observe fluctuations between different Fiscal
Years. The one-time nature of these types of revenues also limits the
ability to rely on these revenue increases to finance on~going operating
expenses. The 1993-94 Fiscal Year Other Revenue category included over
$200,000 generated from major one-time events. The following major
transactions affected this revenue: (1) Equity/Dividends on Liability and
Workers Compensation Insurance policies totalled $73,682. (2) The City
secured as part of legal settlements, $79,902 in reimbursements for legal
costs incurred defending the City. (3) The City was the recipient of
$60,000 in endowment funds from the former operator of the Dublin Cemetery.
The following chart compares General Fund Expenditures to those for the
previous year.
As noted above, General Fund expenditures decreased when compared to the
prior year. This was due to a conscious effort by City officials to reduce
General Fund expenditures as a result of potential State reductions in
xiv
local revenues. The operating portions of the General Fund budget were
scaled back through the elimination of vacant positions within the current
year I s budget. In the case of Highways & Streets the City revised its
approach to financing these types of expenditures. The 1993/94 budget
relied more heavily on Special Revenue Funds and less on General Fund
financing. In addition, a reduced scope of activities were undertaken.
The City also experienced favorable results in General Fund expenditures as
compared to the adopted Budget Appropriations. The final General Fund
operating expenditures were approximately $687,389 less than the authorized
budget. In several cases this resulted from one-time savings and the trend
over time would not be expected to continue. Examples of one time savings
include: (1) Police overtime usage was below historical trends. (2) There
were Staff vacancies during the year in four different operating
departments. (3) There was a delay in the assumption of the full operation
of the Heritage Center properties.
As noted in the Financial Report as well as the analysis presented above,
the City had General Fund Expenditures which were less than General Fund
Revenues. In accordance with City council policy this difference has been
designated in a reserve for "Economic Uncertainty". Overall, the General
Fund expenses were $1,400,060 less than the General Fund Revenues.
It is also important to consider the non-repetitive nature of the factors
which contributed to this surplus. In part it was affected by the City
Council policies undertaken to reduce appropriations at the start of the
Fiscal Year. This was done to prepare for a potential reduction in State
Revenues. The final action taken by the State Legislature in Fiscal Year
1993/94 did not significantly impact cities incorporated after 1978. The
City of Dublin benefited from this limitation. Other contributing factors
included one-time revenues and budgetary savings during the Fiscal Year.
It is anticipated that the State of California may face revenue shortfalls
in Fiscal Year 1995/96, which would cause further reduction to municipal
revenues. Although the City's reserve for Economic Uncertainties would not
provide on-going financing for operations, it will provide a cushion to
finance operating costs while an appropriate financing plan is developed to
address any shortfalls in State controlled revenues. In recent years the
timing of State Budget actions have complicated local financial planning.
Typically the City adopts its budget in the month of June. The State may
adopt legislation after the City action, which effects revenue sources
included in the adopted City Budget. The reserves would also be available
to address one time expenditures considered to be a priority by the City
Council.
DEBT ADMINISTRATION
The City has no outstanding General Obligation
administer funds for debt issued pursuant to the
two Capital Improvement Projects. On July 2, 1993
the Assessment District Bonds associated with the
Plan Assessment District.
debt. The City does
1915 Improvement Act on
the City retired all of
San Ramon Road Specific
The t6tal
$2,350,000
amount
and is
of assessment debt outstanding at June 30, 1994 is
related to the Dublin Boulevard Extension Assessment
xv
District. This amount is repayable from property assessments levied on
properties benefiting from the improvements. Revenues collected were
sufficient to finance all required debt service expenditures for the year
ending June 30, 1994. There were no material delinquent assessment
revenues at year end.
RISK MANAGEMENT
The City of Dublin is a member of ABAG PLAN Corporation. This is a public
agency pool providing liability insurance coverage to approximately 29 Bay
Area cities. The coverage limit is $ 5 million per occurrence. In Fiscal
Year 1993/94 the City of Dublin selected a $ 50,000 deductible. In
previous years the City had carried a $25,000 deductible. The change
reduced the City's annual premium costs. The pool also provides property
insurance coverage with a $5,000 deductible except for vehicle losses,
which carry a $10,000 deductible and purchases required employee bonds.
CASH MANAGEMENT
Cash which is temporarily idle during the year was invested by the City
Treasurer in accordance with adopted investment policies. The amount of
interest earned on all Governmental Fund Types was $ 949,719. This was a
7.46%% above the amount earned in the prior year. The 1993/94 annual yield-
was 5.232%, for Governmental Fund Types, based upon average monthly
balances. The City had higher balances invested and achieved a slightly
better interest rate in 1993/94, compared to the prior Fiscal Year.
The City Council has established a policy to invest excess general funds in
accordance with various priorities. The highest priority is the prepayment
of the 1993 Civic Center Certificates of Participation (COP's) in February
1999. The amount required at that time will be $13,052,781. The portfolio
was invested in increments to meet this target date and still maintain
adequate short term cash flow reserves. At June 30, 1994 the portfolio of
investments held for Governmental Fund Types included $12,095,000 in
Federal Treasury Notes and United States Agency Notes representing an
average weighted maturity of 3.64 years. The City has positioned its cash
needs to allow it to hold all securities to maturity. Fund Balance in the
General Fund has been reserved in an amount equivalent to the Bo'ok Value of
investments exceeding one year in maturity. On a monthly basis the City
Council is provided with a report on investment activity. The investments
strategy emphasizes the safety of the portfolio and liquidity to match
anticipated cash flow needs.
INDEPENDENT AUDIT
Each year the City of Dublin obtains an independent annual audit of the
City's financial records. The information presented includes a review of
the results of operations and changes in financial position. The report is
presented to the City Council at a public meeting. This report includes
the Auditor's opinion for the combined financial statements of the City of
Dublin.
xvi
AWARDS
The Government Finance Officer's Association (GFOA) and the California
Society of Municipal Finance Officer's (CSMFO) have both recognized the
City of Dublin for its Comprehensive Annual Financial Report covering the
period ending June 30, 1993. Copies of the Certificate of Achievement for
Excellence in Financial Reporting are included in this report. This
represented the fourth consecutive year that the City report was recognized
by the GFOA.
In order to be recognized the City was required to produce an easily
readable and efficiently organized report. The report must also meet the
requirements for generally accepted accounting principles and legal
requirements. The Certificate of Achievement is valid for a period of one
year. We believe that our current report continues to meet the certificate
of Achievement program requirements. It is our intent to submit this
report to GFOA and CSMFO to determine its eligibility for another
certificate.
ACKNOWLEDGMENTS
This report represents the culmination of a significant amount of work,
during a time when fewer Staff resources were available in the Finance
Department. A special thanks is due to the Finance Staff as well as the
Staff at Maze & Associates. The City Council must also be recognized for
their continued support of excellence in financial reporting to the public.
Respectfully submitted,
gaJ~~
Richard C. Ambrose
City Manager
Paul S. Rankin
Assistant City Manager /
Administrative Services Director
xvii
FINANCIAL SECTION
^~ZE &
· r ,~ ASSOCIA TES
ACCOUNTANCY CORPORATION
7670 Riviera Avenue -Suite 100
Walnut Creek, California 94596
(5 70) 930~0902 · FAX 930-0135
INDEPENDENT AUDITOR'S REPORT
To the City Council
City of Dublin, California
We have audited the general purpose financial statements of the City of Dublin as of and for the years ended June
30, 1994 and 1993, as listed in the table of contents. These financial statements are the responsibility of the City's
management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. Those standards require that
we plan and perform the audits to obtain reasonable assurance as to whether the financial statements are free of
material misstatement. An audit includes examining on a test basis evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement presentation. We
believe our audits provide a reasonable basis for our opinion.
In our opinion, such general purpose financial statements present fairly in all material respects the financial position
of the City of Dublin at June 30,1994 and 1993 and the results of its operations and cash flows of its proprietary
fund types for the years then ended, in conformity with generally accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the general purpose financial statements taken as a
whole. The combining fund statements and schedules listed in the table of contents are presented for the purpose of
additional analysis and arc not a required part of the general purpose financial statements. These combining fund
statements and schedules have been subjected to the auditing procedures applied in the audits of the general purpose
financial statements, and in our opinion are fairly stated in all material respects ,"..hen considered in relation to the
general purpose financial statements taken as a whole.
The statistical section listed in the table of contents was not examined by us and we do not express an opinion on
this information.
COY)~ p~
October 7, 1994
A Professional Corporation
CITY OF DUBLIN
GENERAL PURPOSE FINANCIAL STATEMENTS
These statements provide an overview of the combined financial position and the operating results of aU fund types
and account groups. Individual funds and account groups utilized by the City are grouped in these statements as
follows:
GOVERNMENTAL FUND TYPES
These funds include general, special revenue and capital projects funds, through which governmental functions are
typicaUy funded, with the emphasis on sources and uses of resources.
PROPRIETARY FUND TYPES
These funds include enterprise and internal service funds, which are used to account for activities similar to private
industry, with emphasis on net income determination and cost recovery.
FIDUCIARY FUND TYPE
These agency funds are used to account for assets held by the City as an agent.
ACCOUNT GROUPS
The account groups are used to establish accounting control over the City's general fixed assets and general long-
term obligations. These assets and liabilities are not spendable resources and do not require current appropriation.
They are accounted for separately from governmental fund types.
3
CITY OF DUBLIN
COMBINED BALANCE SHEETS. ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 1994
WITH COMPARATIVE AMOUNTS FOR JUNE 30,1993
PROPRIETARY
GOVERNMENTAL FUND TYPES f1JND TYPES
Special Capital Internal
General Revenue Projects Service Enterprise
ASSETS
Cash and investments (Note 3) $17,142,748 $1,077,298 $128,435 $334,576 $14,688
Restricted cash and investments (Note 3) 1,732,248
Receivables:
Accounts 385,783 164,243 113,552
Accrued interest 305,989 644 46,955
Due from other governments 274,232 29,859
Due from other funds (Note 4) 387,489
Prepaid expenses 11,981 2,879
Condemnation deposits
Deferred compensation mutual funds (Note 21)
Fixed assets (net of accumulated depreciation) (Note 5) 153,664 20,476,568
Amount to be provided for general
long-term obligations
Total Assets $18.508,222 $1.271.400 $242,631 $491.119 $22.270.459
LIABILITIES
Accounts payable $280,743 $292,564 $23,822 $799 $14,428
Accrued wages 63,762
Accumulated unpaid general leave 124,105
Deposits payable 107,210 216,850
Deferred revenues 220,361 110,796
Due to other funds (Note 4) 109,083 278,406
Due to other governments 335
Due to bondholders
Deferred compensation payable
Interest payable 378,643
BART advance payable (Note 6)
Certificates of participation (Note 6) 16,981,238
Total Liabilities 796,516 401,647 629,874 799 17,374,309
FUND EQUITY
Investment in general fixed assets
Contributed capital 177,339 5,109,890
Retained earnings (deficit)
Reserved for debt service 1,779,203
Reserved for equipment replacement 312,981
Unreserved (1,992,943)
Fund balances (Note 7):
Reserved for:
Investments held to maturity 13,808,042
Prepaid expenses 11,981
Condemnation deposits
Unreserved:
Designated for:
Liability insurance claims 137,210
Cemetery endowment 60,000
Econonticuncertainty 1,369,133
Authorized expenditures 2,325,340 914,832
Undesignated (45,079) (387,243)
Total Fund Equities (Deficits) 17,711,706 869,753 (387,243) 490,320 4,896,150
Total Liabilities and Fund Equity $18.508.222 $1.271.400 $242,631 $491.119 $22.270.459
See accompanying notes to financial statements
4
FIDUCIARY
FUND TYPE
ARency
ACCOUNT GROUPS
General Fixed General Long-
Assets Term Obligations
TOTALS
(Memorandum Only)
1994 1993
$221,891 $18,919,636 $18,747,j3j
121,210 1,8j3,4j8 1,848,112
663,578 607,678
353,588 257,379
304,091 347,jj2
387,489 266,809
14,860 5,959
32,600
216,591 216,591 157,929
$479,805 21,110,037 21,585,013
$2,713.930 2,713,930 2,548,360
$559,692 $479.805 $2.713.930 $46.537,258 $46.404,926
$169 $612,j25 $1,498,616
63,762 114,037
124,105 116,981
3,12j 327,185 236,562
45,684 376,841' 257,917
387,489 266,806
335 107,866
294,123 294,123 741,390
216,j91 216,591 157,929
378,643 77,851
$2,713,930 2,713,930 2,j48,360
16.981,238 17,850,568
j59,692 2,713,930 , 22,476,767 23,974,883
$479,805 479,805 470,015
5,287,229 j,285,999
1,779,203
312,981 289,050
(1,992,943) (340,8j2)
13.808,042
11,981 j,845
32,600
137,210 137,210
60,000
1,369,133
3,240,172 16,554,956
(432.322) (4,780)
479,805 24,060,491 22,430,043
$jj9.692 $479.805 $2,713.930 $46.537.258 $46.404.926
5
CITY OF DUBLIN
COMBINED STATEMENTS OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 1994
WITH COMPARATIVE AMOUNTS FOR THE FISCAL YEAR ENDED JUNE 30, 1993
TOTALS
GOVERNMENTAL FUND TYPES (Memorandum Only)
Special Capital
General Revenue Projects 1994 1993
REVENUES
Taxes $10,457,184 $117,623 $10,574,807 $9,986,544
Licenses and permits 340,995 340,995 281,921
Intergovernmental 945,713 852,324 1,798,037 2,810,875
Charges for services 580,738 742,458 1,323,196 1,171,564
Use of money and property 935,615 51,059 $21,370 1,008,044 951,267
Fines and forfeitures 34,316 33,964 68,280 50,780
Other revenue 274,339 26,263 53,903 354,505 124,493
Special assessments 296,286 296,286 292,224
Total Revenues 13,568,900 2,119,977 75,273 15,764,150 15,669,668
EXPENDITURES
Current:
General government 2,922,353 2.922,353 3,066,025
Public safety 5,720,727 . 280,439 6,001,166 6,014,989
Highways and streets 487,451 343,485 830,936 998,843
Health and welfare 76 542,622 542,698 76,729
Community development 986,292 121,478 1,107,770 1,409,594
Culture and leisure 1,709,218 1,709,218 1,733,786
Capital outlay 342.723 561.640 214,021 1.118,384 2,697,724
Total Expenditures 12,168,840 1,849,664 214,021 14,232.525 15,997,690
EXCESS (DEFICIENCY) OF REVENUES
OVER(UNDER) E..'XPENDITURES 1,400,060 270,313 (138,748) 1,531,625 (328,022)
OTHER FINANCING SOURCES (USES)
Operating transfers in (Note 4) 77,093 32,728 109,821 105,435
Operating transfers (out) (Note 4) (41,884) (9,451) (70,494) (121,829) (105,754)
Contributions in aid of construction 390,230
Total Other Financing Sources (Uses) 35,209 23,277 (70,494) (12,008) 389,911
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER (UNDER)
E..'XPENDITURES AND OTHER FINANCING USES 1,435.269 293,590 (209,242) 1,519,617 61,889
Fund balances at beginning of year , as restated (Note 7) 16,276,437 576,163 (165,101) 16,687,499 16,625,610
Residual equity transfers (out) (Note 4) (12.900 ) (12.900)
Fund balances at end of year $17.711.706 $869.753 ($387,243) $18.194.216 $16.687,499
See accompanying notes to financial statements
7
CITY OF DUBLIN
COMBINED STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
ALL GOVERNMENTAL FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 1994
GENERAL FUND SPECIAL REVENUE FUNDS
V mance V mance
Favorable Favorable
Budget Actual (Unfavorable ) Budget Actual (Unfavorable)
REVENUES
Taxes $10,063,940 $10,457,184 $393,244 S114,OOO 5117,623 53,623
Ucenses and pennits 375,600 340,995 (34,605)
Intergovernmental 964,425 945,713 (18,712) 2,974,726 852,324 (2,122,402)
Charges for services 714,533 580,738 (133,795) 716,557 742,458 25,901
Use of money and property 881,100 935,615 54,515 29,200 51,059 21,859
Fines and forfeitures 32,000 34,316 2,316 26,500 33,964 7,464
Other revenue 30,649 274,339 243,690 15,400 26,263 10,863
Special assessment 288,263 296,286 8,023
Total Revenues 13,062,247 13,568.900 506,653 4,164,646 2,119,977 (2,044,669)
EXPENDIlURES
Current:
General government 3,145,823 2,922,353 223,470 2,450 2,450
Public safety 5,982,282 5,720,727 261,555 309,170 280,439 28,731
Highways and streets 494,116 487,451 6,665 371,384 343,485 27,899
Health and welfare 100 76 24 572,236 542,622 29,614
Community development 1,042,521 986,292 56.229 124,740 121,478 3,262
Culture and leisure 1,848,665 1,709,218 139,447
Capital outlay 351,697 342,723 8.974 2,637,010 561,640 2,075,370
Total Expenditures 12.865,204 12,168,840 696,364 4.016,990 1,849,664 2,167,326
EXCESS OF REVENUES
OYER (UNDER) EXPENDIlURES 197,043 1,400,060 1,203,017 147.656 270,313 122,657
OTHER FINANCING SOURCES (USES)
Operating transfers in (Note 4) 77,093 77,093 32,728 32,728
Operating transfers (out) (Note 4) (41,884) (41,884) (9,451) (9,451)
Total Other Financing Sources (Uses) 35.209 35,209 23,277 23,277
EXCESS OF REVENUES AND
OTHER FINANCING SOURCES OVER (UNDER)
EXPENDIlURES AND OTHER FINANCING USES 5197,043 1,435,269 $1.238.226 S147,656 293,590 $145.934
Fund balances beginning of year, as restated (Note 7) 16,276,437 576,163
Residual equity transfers (out) (Note 4)
Fund balances end of year $17,711.706 S869,753
See accompanying notes to financial statomlents
8
TOTALS
CAPITAL PROJECTS F1JNDS (Memorandum Only)
Variance V mance
Favorable Favorable
Budget Actual (Unfavorable ) Budget Actual (Unfavorable)
$10,177,940 $10,574,807 $396,867
375,600 340,995 (34,605)
3,939,151 1,798,037 (2,141,114)
1,431,090 1,323,196 (107,894)
$362,785 $21,370 ($341,415) 1,273,085 1,008,044 (265,041)
58,500 68,280 9,780
567,000 53,903 (513,097) 613,049 354,505 (258,544)
288,263 296,286 8,023
929,785 75,273 (854,512) 18,156.678 15,764,150 (2.392,528)
3,148,273 2,922,353 225,920
6,291,452 6,001,166 290,286
865,500 830,936 34,564
572,336 542,698 29,638
1,167,261 1,107,770 59,491
1,848,665 1,709,218 139,447
727,736 214,021 513,715 ' 3,716,443 1,118,384 2,598,059
727,736 214,021 513,715 17,609,930 14,232,525 3.377,405
202,049 (138,748) (340.797) 546,748 1,531.625 984,877
109,821 109,821
(70,494) (70,494) (121.829) (121,829)
(70,494 ) (70,494) (12,008) (12,008)
$202,049
(209,242)
($4 JJ ,291)
$546.748
1,519,617
$972.869
(165,101)
16,687,499
(12,900)
(12.900)
($387,243)
$18.194.216
9
CITY OF DUBLIN
COMBINED STATEMENTS OF REVENUES, EXPENSES
AND CHANGES IN RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 1994
WITH COMPARATIVE AMOUNTS FOR THE FISCAL YEAR ENDED ruNE 30, 1993
Dublin
Equipment Information TOTALS
Replacement Inc. (Memorandum Only)
Intemal Enterprise
Service Fund Fund 1994 1993
REVENUES
F aciIities rents (Note 6) $1,458,500 $1,458,500 $1,575,445
Equipment usage $128,214 128,214 131,1l0
Miscellaneous 7,616 7,616 13.442
Total Revenues 135,830 1,458,500 1,594,330 1.719,997
EXPENSES
Depreciation 79,614 472,461 552,075 560,636
Services and supplies 47,666 12,874 60,540 76,155
Total E:-;penses 127,280 485.335 612,615 636,791
Operating Income 8,550 973,165 981,715 1,083,206
NONOPERATING INCOME (EXPEKSES)
Interest income 15,381 106,215 121,596 269,198
Interest e:-;pense and bond discount amortization (964,276) (964,276) (830,479)
Nonoperating Income (Loss) 15,381 (858,061) (842,680) (561,281)
Income Before Operating Transfer> 23,931 1I5,104 139,035 521,925
OPERATING TRANSFERS IN (OUT) (NOTE 4) 12,008 12,008 319
Income Before Extraordinary Item 23,931 127,1l2 151,043 522,244
EXTRAORDINARY LOSS ON ADVA.:'<CE
REFUNDING OF DEBT (NOTE 6) (2,410,551)
Net Income (Loss) 23,931 127,112 151,043 (1,888,307)
Retained eaIllings at beginning of year 289,050 (340,852) (51,802) 1,836,505
Retained earnings at end of year $312.981 (:5213.740) $99.241 ($51,802)
See accompanying notes to financial statements
10
CITY OF DUBLIN
COMBINED ST A TENlENTS OF CASH FLOWS
ALLPROPRillTARYFUNDTYPES
FOR THE FISCAL YEAR ENDED JUNE 30, 1994
WITH COMPARATIVE MIOUNTS FOR THE FISCAL YEAR ENDED JUNE 30,1993
Equipment
Replacement
Internal
Service Fund
Dublin
Infonnation
Inc.
Enterprise
Fund
TOTALS
(Memorandum Only)
1994
1993
CASH FLOWS FROM OPERATING ACTIVITIES
Op<:rating Incom"
Adjustments to reconcile operating income
to cash flows from operating activities:
Depreciation
Net effect of changes in:
Prepaid exp"nses
Accounts payable
S8,S50 S973,165 S981,715 SI,083,206
79,614 472,461 552,075 560,636
(2,765) (2,765) 1,720
(2,871 ) (11,332) (14,203) 23,125
82,528 1,434,294 1,516,822 1,668,687
15,381 106,131 121,512 286,827
Cash Flows from Operating Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Fixed asset purchases
Increase in restricted investments
Proceeds from 1993 Certificates of participation
Payment to refunding escrow agent
1993 Certificates of Participation issuance costs
Certificates of Participation principal payment
Interest paid
(66,057) (66,057) (\36,436)
(5,346) (5,346) (5,916)
18,S25,000
(18,015,047)
(677,823)
(910,000) (910,000) (470,000)
(622,816) (622,8 I 6) (1,230,804)
(66.057) . 0,538,162) (1,604,219) (2,011.026)
Cash Flows from Capital and Related
Financing Activities
CASH FLOWS FROM NONCAPIT AL
FINANCING ACTIVITIES
Operating transfern in (out)
Cash Flows from Noncapital
Financing Activities
12,008 12,008 319
12,008 12,008 319
31,852 14,271 46,123 (55,193)
302,724 417 303,141 358,334
$334,576 $14,688 $349,264 $303,141
See accompanying notes to financial statements
Net Cash Flows
Cash and investments at begitming of year
Cash and investments at end of year
11
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 1 - GENERAL
The City of Dublin is a residential community with a significant regional commercial base, located in the Tri-
Valley area of Alameda County at the crossroads of Interstate Freeways 580 and 680. The City was
incorporated as a municipal corporation February I, 1982; population at January I, 1994 was 24,947,
excluding prisoners housed at the Santa Rita Jail.
The City operates under the Council-Manager form of government, with five elected Council members served
by a full-time City Manager and staff. At June 30, 1994 the City's staff comprised 32 full time employees
who were responsible for city-provided service. In addition, the City employs approximately 35 seasonal
recreation persOlUlel.
The City provides many traditional municipal services through contracts with both public and private entities.
Approximately 45 contract employees provide a variety of municipal services from city facilities.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following is a' summary of significant policies of the City, which conform with generally accepted
accounting principles applicable to governments.
A. Reporting Entity
The general purpose financial statements of the City of Dublin include the financial activities of the City as
well as separate legal entities which are controlled by or dependent on the City. Management has considered
all potential component units in evaluating how to define the City for general purpose financial statement
purposes. The criteria for including a potential component unit in the City's financial statements are the City
Council's ability to exercise oversight responsibility, the scope of the entity's service and the existence of
special financing relationships, regardless of whether the City is able to exercise oversight responsibilities.
Dublin Information, Inc. (DII) is a separate legal entity which assists in providing financing to the City, to own
and rent facilities to the City and is utilized to distribute public information. DII is dependent on the City for
its cash flows and therefore meets the criterion of ability to significantly influence operations and
accountability for fiscal matters for inclusion in the City's reporting entity. The financial activities ofDII have
been included in the Dublin Information, Inc. Enterprise Fund. Since DIl's sole business is facilities rental, it
accounts for rents as operating revenues.
The general purpose financial statements exclude the activities of the' Livermore-Amador Valley Transit
Authority, the Dublin Housing Authority, the Dublin San Ramon Services District and the Dougherty
Regional Fire Authority. Each of these agencies is managed and operated independently of the City, which is
not able to significantly influence their operations, budgets or financing.
12
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
B. Fund Accounting
The accounts of the City are organized on the basis of funds and account groups, each of which is considered a
separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing
accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as
appropriate. Government resources are allocated to and accounted for in individual funds based upon the
purposes for which they are to be spent and the means by which spending activities are controlled. The
various funds are grouped in the general purpose financial statements as follows:
GOVERNMENTAL FUND TYPES
General Fund is the general operating fund of the City. It is used to account for all financial resources except
those required to be accounted for in another fund,
Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than major
capital projects) that are legally restricted to expenditures for specific purposes,
Capital Projects Funds are used to account for financial resources to be used for the acquisition or
construction of major capital facilities (other than those financed by proprietary funds).
PROPRIETARY FUND TYPES
Enterprise Fund is used to account for operations which are financed and operated in a manner similar to
private business enterprises where the intent of the governing body is that the costs and' expenses, including
depreciation, of providing goods or services to the general public on a continuing basis be financed or
recovered primarily through user charges; or where the governing body has decided that periodic determination
of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy,
management control, accountability, or other purposes.
Internal Service Fund is used to account for the financing of goods provided by one department or agency to
other departments or agencies of the City on a cost-reimbursement basis.
FIDUCIARY FUND TYPE
Agency Funds are used to account for assets held by the City as an agent for individuals, private
organizations, other governments and/or other funds, in accordance with the conditions of the agreements.
Agency funds are purely custodial and thus do not involve measurement of results of operations.
13
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Account Groups
The accounting and reporting treatment applied to the fixed assets and long~term obligations associated with a
fund are determined by its measurement focus. All governmental fund types are accounted for on a spending
or "financial flow" measurement focus, which means that only current assets and current liabilities are
generally included on their balance sheets. Their reported fund balance (net current assets) is considered a
measure of "available spendable resources". Governmental fund operating statements present increases
(revenues and other financing sources) and decreases (expenditures and other financing uses) in net current
assets. Accordingly, they are said to present a summary of sources and uses of "available spendable
resources" during a period.
Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the general
fixed assets account group, rather than in governmental fund types.
Long term obligations expected to be financed from governmental fund types are accounted for in the general
long-term obligations account group, not in the governmental fund types.
The two account groups are not "funds". They are concerned only with the measurement of financial position.
They are not involved with measurement of results of operations. Because of their spending measurement
focus, expenditure recognition for governmental f4nd types is limited to exclude amounts represented by
noncurrent liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as
governmental fund expenditures or fund liabilities.
D. Fixed Assets
All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available.
Donated fixed assets are valued at their estimated fair value on the date donate~. No depreciation has been
provided on general fixed assets.
The City has elected not to capitalize its infrastructure, which consists of roads, bridges, curbs, gutters, streets,
sidewalks, drainage systems, and lighting systems except where required by the state for property acquired
with state grants funds.
All proprietary funds are accounted for on a c,ost of services or "capital maintenance" measurement focus,
which means that all assets and all liabilities, current and non-current, associated with their activity are
included on their balance sheets. Their reported fund equity is segregated into contributed capital and retained
earnings components. Proprietary fund type operating statements present increases (revenues) and decreases
(expenses) in net assets.
Depreciation of all exhaustible fixed assets used by proprietary funds is charged as an expense against their
operations. Accumulated depreciation is reported on proprietary fund balance sheets.
14
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Depreciation has been provided over the estimated useful lives of proprietary fund assets using the straight line
method. The estimated useful lives are as follows:
Building
Machinery and equipment
37.5 years
3-7 years
E. Contributed Capital in Proprietary Fund Types
Contributed capital in proprietary funds represents general fund residual equity transfers used to acquire or
construct fixed assets.
F. Basis of Accounting
Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and
reported in the general purpose financial statements. Basis of accounting relates to the timing of the
measurements made, regardless of the measurement focus applied.
All governmental and agency fund types are accounted for using the modified accrual basis of accounting.
Their revenues are recognized when they become measurable and available as net current assets.
Those revenues susceptible to accrual are property taxes, interest revenues and charges for services. Sales
taxes collected and held by the State at year end on behalf of the City also are recognized as revenue. Fines,
licenses, transient occupancy taxes and pennit revenues are not susceptible to accrual because they generally
are not measurable until received in cash.
Expenditures are generally recognized under the modified accrual basis of accounting when the related fund
liability is incurred, except for principal and interest on general long term obligations which is recognized
when due. Because of their current financial resources focus, expenditure recognition for governmental fund
types excludes amounts represented by noncurrent liabilities, Since they do not affect net current assets, such
long-term amounts are not recognized as governmental fund expenditures or fund liabilities,
All proprietary fund types are accounted for using the accrual basis of accounting, Their revenues are
recognized when they are earned, and their expenses are recognized when they are incurred.
G. Budgets and Budgetary Accounting
The City follows these procedures in establishing the budgetary data reflected in the general purpose financial
statements:
1. Prior to June 30 the City Manager submits to the City Council a proposed operating budget for the fiscal
year commencing the following July 1. The operating budget includes proposed expenditures and the
means of financing them.
2. The public is given an opportunity to comment on budget at a noticed City council meeting,
15
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
3. Prior to July 1, the budget is legally enacted through passage of a resolution,
4. The City Manager is authorized to transfer budgeted amounts between line items within any department;
however, any revisions which alter total departmental expenditures of the City must be approved by City
Council. Expenditures may not exceed budgeted appropriations at the departmental level without City
Council approval.
5. Formal budgetary integration is employed as a management control device during the year for the general
fund, special revenue funds and capital projects funds.
6. Budgets for the general, special revenue and capital projects funds are adopted on a basis consistent with
generally accepted accounting principles.
All unexpended appropriations lapse at the end of the fiscal year.
Budgeted amounts presented in the financial statements are as originally adopted, or as amended by the City
CounciL Individual amendments were not material in relation to original appropriations.
H. Cash and Investments
The City pools idle cash from all funds, except Cash and Investments with Fiscal Agent and the Deferred
Compensation Plan, for the purpose of increasing investment income. Investments are carried at cost, except
Deferred Compensation Plan assets which are carried at market value. Interest income on investments is
allocated on the basis of average month-end cash and investment balances in each fund,
Proprietary fund type cash and investments are used in the preparation of the statement of cash flows as
investments are not allocated to specific funds. Each of these funds' allocation of pooled cash and investments
is considered cash and cash equivalents. Restricted cash and investments held in proprietary funds are
composed of investments with maturity terms greater than three months and are therefore not considered cash
and cash equivalents.
L Deferred Compensation Plan
City employees may defer a portion of their compensation under a City sponsored deferred compensation plan
created in accordance with Internal Revenue Code Section 457. Under this plan, participants are not ta."'{ed on
the deferred portion of their compensation until distributed to them; distributions may be made only at
termination, retirement, death or in an emergency as defined by the Plan,
All assets of the plan, including participant contributions and earnings therefrom, are the property of the City.
These assets may also be claimed by the general creditors of the City; however, the City believes the likelihood
of any such claim is remote. Participants rights under the plan are equal to those of general creditors of the
City.
Investments in the plan are managed by trustees under agreements which allow participants to choose among
various investment options including stocks, bonds, money market accounts, and a fund providing a
guaranteed rate of return.
16
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 2- SUMMARY OF ACCOUNTING POLICIES (Continued)
The City has no liability for any losses which may be incurred by the plan and does not participate in any
gains, but it does have the duty of due care that would be required of an ordinary prudent investor. City
management has assigned fiduciary management functions to a professional asset management company. The
market value of monies reported at June 30, 1994 in the Plan were $216,591.
J. Property Tax
Alameda County assesses properties and bills for and collects property taxes as follows:
Secured Unsecured
Valuation dates March 1 March 1
Lienllevy dates March 1 March 1
Due dates 50% on November I July- 1
50% on February 1
Delinquent as of December 10 (for November) August 31
April 10 (for February)
The term "unsecured" refers to taxes on property other than real estate, land and buildings, These taxes are
secured by liens on the property being taxed.
Property taxes are recorded when levied, provided they are measurable and collected within 60 days of year
end.
.K. - Accumulated Unpaid General Leave
The City accounts for 100% of the liability for accumulated unpaid general leave in the General Fund since the
City's policy is to liquidate any unpaid general leave from currently available expendable resources rather than
future resources. The City offers its employees general leave benefits which are composed of time off for
illnesses and vacations. Employees receive benefits in the form oftime off or in cash if employment with the
City ceases.
L. Claims and Judgments
The City records a liability for uninsured claims and judgments when it is probable that an asset has been
impaired or a liability has been incurred, and the amount of impairment or liability is reasonably estimable.
No material claims or judgments were accrued at year end.
M. Post Employment Health Care Benefits
The City provides certain health care benefits for two retirees as required under a contract signed with PERS.
All former full time employees who retire under PERS are eligible for these benefits. The cost of retiree health
care benefits is recognized as an expenditure as premiums are paid. For the year ended June 30, 1994 those
costs totaled $8,322.
17
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 2 ~ SUMMARY OF ACCOUNTING POLICIES (Continued)
N. Total Columns on Combined Statements
Total columns on the combined statements are captioned Memorandum Only to indicate that they are presented
only to facilitate financial analysis. Data in these columns do not present financial position, results of
operations, or cash flows in conformity with generally accepted accounting principles. Neither is such data
comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
O. Classification Changes
The classification of certain amounts has been changed to improve the June 30, 1994 financial presentation.
For comparative purposes, prior year amounts have been reclassified to conform with the June 30, 1994
presentation.
NOTE 3 - CASH AND INVESTMENTS
A. Collateral
All cash in banks and non-negotiable certificates of deposit are entirely insured or collateralized with securities
held by the pledging financial institutions in the City's name, The California Government Code requires
California banks and savings and loan associations to secure the City's cash deposits by pledging securities as
collateral. This California Government Code states that collateral pledged in this manner shall have the effect
of perfecting a security interest in such collateral superior to those of a general creditor. Thus, collateral for
cash deposits are considered to be held in the City's name. The City has waived collateral requirements for
cash deposits which are fully insured up to $100,000 by the Federal Deposit Insurance Corporation (FDIC) or
Savings Account Insurance Fund (SAIF).
At year end, the carrying amount of the City's cash deposits was $410,282 and the bank balance was
$636,414. Of the bank balance, $592,172 was covered by federal depository insurance. The balance was
covered by collateral as discussed above.
B. Credit Risk, Carrying Amount, and Market Value of In vestments
Investments represented by specific identifiable investment securities are classified as to the risk that the
securities instruments may be lost as follows: Category 1 includes investments that are insured or registered or
for which securities are held by the City or its agent in the City's name; Category 2 includes any unregistered
investment for which the securities are held by the financial institution's trust department or agent in the City's
name; Category 3 includes uninsured investments which are purchase and held by the Trustee, but not in the
City's name. These categorizations do not address market valuation risks, Pooled investments are not required
to be categorized.
18
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 3 - CASH AND INVESTMENTS (Continued)
The City's investments at June 30, 1994 and 1993 comprise:-
1994
Carrying Value
Restricted 1993
Available for Cash and Market Carrying
Operations Investments Total Value Amount
Cash in banks and
certificates of deposit 5395,594 514,688 $410,282 $396,344 $231,536
Mutual Funds and money
marlcet funds 1,699,996 122,934 1,822,930 1,670,799 1,154,390
Local Agency Investment
Fund 4,707,000 4,707,000 4,707,000 14,850,000
Securities of the U.S.
Government or its agencies:
Category 1 12,117,046 12,117,046 11 ,638,851 2,666,000
Category 2 1,715,836 1,715,836 1,610,697 1,693,721
Total $18,919,636 5 I ,853,458 $20,773,094 $20,023,691 $20,595,647
At June 30, 1994 the City had investments held by fiscal agents which were pledged for the payment of
certificates of participation, bonds, or employee compensation. The California Government Code requires
these funds to be invested in accordance with the applicable City ordinance, resolution or bond indenture,
unless there are specific State statutes governing their investment. All these funds have been invested only as
permitted either the above Code or applicable City ordinance.
C. Authorized Investments
The City's investment policy and Section 53601 of the California Government Code allow the City to invest in
the following types of investments, subject to certain limitations as described in the City's investment policy:
Securities of the V.S, Government, or its agencies
Certificates of Deposit
Bankers Acceptances
Local Agency Investment Fund (State Pool) Deposits
Repurchase Agreements
Conunercial Paper
Medium Term Corporate Notes
Local Agency Long-Term Debt
Registered State Warrants
Mutual Funds
19
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 3 - CASH AND INVESTMENTS (Continued)
D. Investment Maturities
The City's investments are either available immediately or are scheduled to mature in accordance with
projected cash flow needs. All investments are normally held to maturity and all investments mature in five
years or less.
At June 30, 1994 the City's cash and investments were scheduled to mature as follows:
Available immediately
One to three years
Three to five years
$6,435,274
4,754,281
9,583,539
$20,773,094
NOTE 4 ~ INTERFUND BALANCES
A. Interfund Receivables and Payables
The General Fund was ow.ed the amounts below at June 30, 1994 by the funds listed:
Special Revenue Funds:
Sales Tax Measure B
Intermodal Surface Transportation Efficiency Act
Community Development Block Grant
Measure AA
Dublin Blvd. Extension #1 Capital Projects Fund
Total Amount Owed General Fund
$38,701
27,972
23,296
19,114
278,406
$387,489
The amounts owed represent General Fund advances for expenditures chargeable to these funds, and will be
repaid in the normal course of business in fiscal 1995.
B. Operating Transfers
During the year ended June 30, 1994 the following operating transfers were made to reimburse expenses or
expenditures:
Fund Making Transfer
General Fund
General Fund
General Fund
Special Revenue Funds:
Community Development Block Grant
Park Dedication
Capital Projects Funds:
Capital Projects
Dublin Blvd. Extension #2
Fund Receiving Transfer
Transportation Development Act
Dublin Infonnation Inc. Enterprise Fund
SB 300 Grant
Amount
$451
12,008
29,425
General Fund
Measure M
6,599
2,852
General Fund
General Fund
69,731
763
$121,829
20
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 4 - INTERFUND BALANCES (Continued)
C. Residual Equity Transfers
During the year ended June 30, 1994, the Dublin Boulevard Extension #2 Project was completed and the
related Capital Projects Fund was closed by transferring $12,900 of remaining cash to the Dublin Boulevard
Extension Assessment District Agency Fund,
NOTE 5 - FIXED ASSETS
Fixed assets balances and activity were as follows:
Balance
July 1, 1993
Additions
Retirements
Balance
June 30, 1994
General Fixed Assets
Land
Equipment
Total
SI,492
$1,492
S120,000
359,805
$479,805
$120,000
350,015
$470,015
Sl1,282
$11,282
Enterprise Fund
Land
Building
Machinery & equipment
Total
Less accumulated depreciation
Net
$6,842,037
15,453,847
422,510
22,718,394
1,769,366
$20,949,028
$472,460
$6,842,037
15,453,847
422,510
22,718,394
2,241,826
$20,476,568
Internal Service Fund
Machinery & equipment
Less accumulated depreciation
Net
$521,116
355,146
$165,970
$67,308
$79,614
$137,672
$137,672
$450,752
297,088
$153,664
NOTE 6 - LONG TERM OBLIGATIONS
A, BART Agreement/Dublin Boulevard Assessment District
In 1990, the City and Bay Area Rapid Transit District (BART) entered into a Settlement Agreement regarding
the extensions of Dublin Boulevard to the future extension of Hacienda Drive to service a station to be
constructed by BART. In fiscal 1992, BART advanced the City $2,285,000 to purchase land and construct
these extensions. These projects are included in this report in the Dublin Boulevard Extension Capital Project
# 1. In addition, the Dublin Boulevard Extension Assessment District was formed in 1992 and contributed
$1,987,972 to the City to aid in the construction of the Dublin Boulevard extension.
21
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 6 - LONG TERM OBLIGATIONS (Continued)
BARTs advances to the City, including interest, comprise $1,457,875 due December 31, 1995 and
$1,256,055 which has no specific due date. Under the City's Agreement with BART, interest on these
advances accrues at a rate based on BART's average rate of return on its investments. During the year ended
June 30, 1994 these advances increased $165,570 representing unpaid interest incurred, The City expects to
repay principal and interest on BART's advances out of developer fees, charges and other non-tax revenues
generated by future development in the area of the BART station. However, the Agreement provides for the
forgiveness by BART of any principal or interest still outstanding on March 27, 2010. In addition, the City
has an agreement with Alameda County Surplus Property Authority which requires the Authority to repay the
advance due December 31, 1995 in the event the advance is not repaid to the City.
The City has recorded BART's advances as general long-term debt at June 30, 1994 because, despite the
Agreement's forgiveness clause, the City is confident there will be sufficient City revenues generated in the
BART station area to repay this debt.
B. Advance Refunding of 1988 Certificates of Participation
On June 1, 1993 the City issued $18,525,000 principal amount of 1993 Certificates of Participation with
interest rates of 2.8% to 5.8%. Of the proceeds, $16,123,345 plus an additional $1,891,702 of 1988 COP
reserve fund monies were used to advance refund the outstanding balance of the 1988 Certificates of
Participation. These proceeds were used to purchase U.S. government securities and were deposited in an
irrevocable trust with an escrow agent to provide for all future debt service payments on the 1988 COPs. As a
result, the 1988 COPs are considered to be defeased and the liability for those obligations has been removed'
from the Dublin Information, Inc. Enterprise Fund,
Although the advance refunding resulted in the recognition of an accounting loss of $2,41 0,551 during the year
ended June 30, 1993, the City realized an economic gain of $681,359 because it reduced its aggregate debt
service payments.
The 1993 COPs are repayable from facilities rents and are collateralized by the Dublin Civic Center. The
1993 COPs are due through February, 2010, require annual principal payments on February 1 and semi-
annual interest payments on February 1 and August 1. The COPs may be prepaid without penalty
conunencing February 1, 1999.
The COPs activity and balances comprised the following:
June 30, 1994 June 30, 1993
Principal balance at July 1 $18,525,000
Issuance of 1993 COPs $18,525,000
Less:
Principal retirements (910,000)
Discount on 1993 COPs, net of amortization (633,762) (674,432)
Balance at June 30, net of discount $16,981,238 S 17,850,568
22
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 6 - LONG TERM OBLIGATIONS (Continued)
C. Maturity Schedule
Annual debt service requirements for long term obligations including interest on 1993 COPs are as follows:
For the Year
Ending June 30
1995
1996
1997
1998
1999
Bart
Agreement
$1,457,875
1993 COPs
$1,553,744
1,591,814
1,589,319
1,594,389
1,716,494
18,863,912
$26,909,672
Total
$1,553,744
3,049,689
1,589,319
1,594,389
1,716,494
20,119,967
$29,623,602
Thereafter
1,256,055
$2,713,930
D. Special Assessment District
The Dublin Boulevard Extension Special Assessment District, formed within City limits, had issued debt with
a balance of $2,350,000 at June 30, 1994. Proceeds of the debt were used to finance improvements within
district boundaries. The City has no legal, contingent or moral obligation for the repayment of this debt and
acts solely as the collecting and paying agent for each district.
E. Defeased Debt
At June 30, 1994 the total balance of the 1985 and 1988 COPs which were defeased was $25,605,000, As
required by the defeasances, securities had been placed in irrevocable trusts with escrow agents to provide for
all future debt service payments on the 1985 and 1988 COPs, which are no longer considered liabilities of the
City,
NOTE 7 - FUND BALANCES
A. Deficits
The following funds had deficit balances at June 30, 1994:
Special Revenue Fund:
Sales Tax Measure B
Capital Projects Funds:
Capital Projects
Dublin Blvd, Extension # 1
Enterprise Fund:
Dublin Information Inc.
$45,079
11 0,796
276,447
213,740
23
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 7 - FUND BALANCES (Continued)
The Dublin Boulevard Extension # 1 Capital Project Fund deficit will be eliminated through the sale of unused
parcels acquired during the construction of the project. The Capital Projects Fund deficit will be eliminated
with the collection of future development fees. The Dublin Information, Inc. deficit was caused by the
refunding as discussed in Note 6 and is temporary. Other deficits will be eliminated through future revenues
or through General Fund transfers.
During the year ended June 30, 1994 the City determined interest had not been added to deposits payable held
in the Capital Projects Fund. Accordingly, as of July 1, 1992, the Capital Projects Fund deposits payable was
increased and Capital Projects fund balance was decreased $32,584 to reflect this restatement.
B. Reserves and Designations
Fund equity consists of reserved and unreserved amounts. Reserved fund equity represents that portion of a
fund balance or retained earnings which has been appropriated for expenditure or is legally segregated for a
specific future use. The remaining portion is unreserved.
A portion of unreserved fund balance may be designated to indicate plans for financial resource use in a future
period, such as for general contingencies or capital projects. Such plans are subject to change; they may never
be legally authorized or result in expenditure.
Fund balances are reserved as follows:
Reserve for prepaids and condemnation deposits is the portion of fund balance set aside to indicate that these
items do not represent available, spendable resources even though they are a component of assets.
Reserved for investments held to maturity is the portion of fund balance set aside for long term investments
which the City intends to hold until maturity. These investments are scheduled to mature from one to five
years after year end.
Fund balances designated by City Council are as follows:
Designated for liability insurance claims is the portion of fund balance to be used for future liability insurance
claims.
Designated for economic uncertainty is the portion of fund balance to be used in the event of economic
uncertainty .
Designated for cemetery endowment is the portion of fund balance to be retained. Interest on this amount is to
be used for maintaining the Dublin Cemetery.
Designated for authorized expenditures is the portion of fund balance to be used for expenditures approved by
CounciL
24
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 8 - JOINT POWERS AGENCIES
The City participates in joint ventures with other municipal entities through Joint Powers Authorities (JP As)
established under the Joint Exercise of Powers Act of the State of California, As separate legal entities, these
JPAs exercise full powers and authorities within the scope of the related Joint Powers Agreement, including the
preparation of annual budgets, accountability for all funds, the power to make and execute contracts and the
right to sue and be sued. Obligations and liabilities of the JP As are paid by the JP As and are not those of the
City or other members.
Each JP A is governed by a board consisting of representatives from each member. Each board controls the
operations of its respective JP A, including selection of management and approval of operating budgets,
independent of any influence by member agencies beyond their representation on the Board.
The City is a member of the following JPAs:
A. Livermore-Amador Valley Transit Authority
This Authority was formed in May 1985 by a joint exercise of powers agreement between the County of
Alameda and the Cities of Livermore, Pleasanton and Dublin for the purpose of providing general public
transportation and paratransit services under the business name "Wheels".
B, Dougherty Regional Fire Authority
The Cities of Dublin and San Ramon established the Dougherty Regional Fire Authority (DRF A) to provide
fire suppression and prevention services. DRF A is controlled by a six member board consisting of three
members from each City Council. The board appoints management and employees of DRF A and is
responsible for DRF A's budget, operations and finances.
C. Condensed Financial Information
Audited condensed financial information for the above authorities which had financial activity during
the year is presented below:
Year Ended June 30, 1993
Transit
Total assets
Total current liabilities
Total long-term liabilities
Total equity
Total revenue
Total expenditures
Contributed capital reductions
Net increase (decrease) in fund equity
Authority
$12,337,796
482,625
11,855,171
3,976,349
4,846,323
869,974
DRFA
$8,855,942
967,780
1,547,386
6,340,776
4,774,353
6,466,777
(1,692,424)
25
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 9 - RISK MANAGEMENT
The City participates in ABAG PLAN Corporation (ABAG), a non profit public benefit corporation
established to provide liability, employee bonds and property insurance coverage, claims and risk management,
and legal defense to its members. ABAG provides $5,000,000 of general liability coverage per occurrence and
is responsible for paying claims in excess of the City's $50,000 deductible, Property coverage is provided
through a replacement policy with a $5,000 deductible. except for a vehicle loss which carries a $10,000
deductible. For the year ended June 30, 1994, the City paid ABAG $105,439 in premiums.
NOTE 10 - PENSION PLAN
A. Plan Description
The City contributes to the California Public Employees Retirement System (PERS), an agent
multiple-employer public employee retirement system which acts as a conunon investment and administrative
agent for participating members in California.
AU qualified permanent and probationary employees are eligible to participate in PERS. Benefits vest after
five years of service and are payable monthly for life upon retirement. Employees who retire at age 60 with 5
years of credited service receive a benefit equal to 10% of their average monthly salary for their highest three
consecutive years of employment. Benefits increase with age and credited service years up to a maximum of
2.148% for each credited se,rvice year. A credited service year is one year of full time employment.
PERS requires a contribution of 7% of the employees annual salary which the City pays on the behalf of the
employees. In addition the City contributes an employer contribution which is adjusted annually based upon
actuarial studies. For the year ended June 30, 1994 the employer rate for the City was 6.203%. These benefit
provisions and all other requirements are established by state statute and city ordinance, Contributions
necessary to fund PERS on an actuarial basis are determined by PERS and its Board of Administration.
B, Funding Status and Progress
The amount shown below as the "pension benefit obligation" is a standardized disclosure measure of the
present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits
estimated to be payable in the future as a result of employee service to date. The measure is intended to help
users assess the funding status of PERS on a going-concern basis, assess progress made in accumulating
sufficient assets to pay benefits when due and make comparisons among employers. The measure is the
actuarial present value of credited projected benefits and is independent of the funding method used to
determine contributions to the PERS.
The pension benefit obligation was computed as part of an actuarial valuation performed by PERS as of June
30, 1992, Significant actuarial ass~mptions used in the valuation include (a) a rate of return on the investment
of present and future assets of 8.75% a year compounded annually, (b) projected salary increases of 4.5% a
year compounded annually, attributable to inflation, and (c) projected salary increases of 2.5% attributable to
seniority/merit. '
26
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 10 - PENSION PLAN (Continued)
Total over-funded pension benefit obligation applicable to the City's employees at June 30, 1992, the most
recent information available, is as follows:
Pension benefit obligation:
Retirees and beneficiaries currently receiving benefits
and terminated employees not yet receiving benefits
Current employees:
Accumulated employee contributions including
allocated investment
Employer-financed vested
Employer-financed nonvested
Total pension benefit obligation
Net assets available for benefits, at cost
(Market value was $1,227,580 at June 30, 1992)
$15,875
508,111
410,343
82,393
1,016,722
Over-funded pension benefit obligation
1,132,606
$115,884
C. Actuarially Determined Contribution Requirements and Contributions Made
PERS uses the Entry Age Normal Actuarial Cost Method which is a projected benefit cost method. That is, it
takes into account those benefits that are expected to be earned in the future as well as those already accrued.
According to this cost method, the normal cost for an employee is the level amount which would fund the
projected benefit if it were paid annually from date of employment until retirement. PERS uses a modification
of the Entry Age Cost Method in which the employer's total normal cost is expressed as a level percentage of
payroll. PERS also uses the level percentage of payroll method to amortize any unfunded actuarial liabilities.
The amortization period of the unfunded actuarial liability ends on June 30, 2011.
The significant actuarial assumptions used to compute the actuarially determined contribution requirement are
the same as those used to compute the pension benefit obligation, as previously described.
27
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 10 - PENSION PLAN (Continued)
Contributions to PERS are made in accordance with actuarially determined requirements computed through an
actuarial valuation performed as of year end. PERS contributions, which were entirely paid by the City,
consisted of the following for the fiscal years ended June 30, 1994 and 1993:
1994 1993
Percent of Percent of
Covered Covered
Amount Payroll Amount Payroll
Covered payroll $1,487,441 $1,529,925
Total payroll $1,713,824 $1,747,849
Normal cost, including
employee contributions $195,278 13.1% $196,574 12,8%
Amortized over-funded
pension benefit obligation (1,439) (.1%) (21,433) (1.4%)
Total $193,839 13.0% $175,141 11.4%
City contributions $88,812 6.0% $68,185 4.4%
Employee contributions 105,027 7.0% 106,956 7.0%
Total $193,839 13.0% $175,141 11.4%
D. Trend Information
Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits
when due. System wide ten-year trend information may be found in the California Public Employees'
Retirement System Annual Reports.
For the fiscal years ended June 30, 1992, 1991 and 1990, 1989, net assets available for benefits funded 111 %,
121%, 115.7% and 112.1% respectively, of the pension plan's total pension benefit obligation and the
overfunded pension benefit obligation represented 7.0%, 10.6%, 7.4% and 5.1% respectively, of covered
payroll. In addition, for the four years ended June 30, 1994, 1993, 1992 and 1991, the City's contributions to
the System, all made in accordance with actuarially determined requirements, were 13.0%, 11 A%, 10.5%, and
12.8% respectively of annual covered payroll. Other trend information required by Governmental Accounting
Standard No.5 is presented in the City's Comprehensive Annual financial Statement statistical section.
28
CITY OF DUBLIN
Notes to General Purpose Financial Statements
NOTE 11 - COMMITMENT AND CONTINGENT LIABILITIES
The City of Dublin, the City of Pleasanton and the Alameda County Surplus Property Authority reached an
agreement under which the City of Pleasanton constructed a further extension of Dublin Boulevard in the City
of Dublin. The City of Dublin has agreed to reimburse the City of Pleasanton the amount of $2,313,472 plus
accrued interest. The monies can only be repaid from proceeds of an assessment district, developer fees or
extractions, or special taxes levied for this purpose on properties benefiting from the improvements. There is
no specific due date,
The Cities of Dublin, Pleasanton and Livermore and the County of Alameda reached an agreement under
which Alameda County is constructing an animal shelter facility on County property, the estimated cost of
which is expected to be $4,500,000. Under the agreement the entities will share in the debt service costs of the
project based on their use of the animal shelter. Dublin's portion of the project, is presently 16.1% based on
its 1992 usage, but may fluctuate based on actual usage. Construction is expected to be completed by June
1995 and Dublin's share of the first debt service payment, due December 1, 1995 estimated at $26,214.
The City participates in several federal and State grant programs. These programs have been audited by the
City's independent accountants in accordance with the provisions of the federal Single Audit Act of 1984 and
applicable State requirements. No cost disallowances were proposed as a result of these audits; however, these
programs are still subject to further examination by the grantors and the amoun~, 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.
29
FINANCIAL SECTION
COMBINING FUND STATEMENTS AND SCHEDULES
CITY OF DUBLIN
GENERAL FUND
The General Fund is used to account for all financial resources except those required to be accounted for in another
fund.
33
ASSETS
Cash and investments
Receivables:
Accounts
Accrued interest
Due from other govenunents
Due from other funds
Prepaid expenses
Total Assets
LIABILITIES
Accounts payable
Accrued wages
Accumulated unpaid general leave
DepositS payable
Deferred revenues
Due to other governments
Total Liabilities
FUND BALANCES
Reserved for:
Investments held to maturity
Prepaid expenses
Designated for:
Liability insurance claims
Cemetery endowment
Economic uncertainty
Authorized expenditures
Total Fund Balances
Total Liabilities and Fund Balances
CITY OF DUBLIN
GENERAL FUND
COMPARATIVE BALANCE SHEETS
JUNE 30, 1994 AND 1993
1994
1993
$17,142,748 $16,894,767
385,783 295,299
305,989 209,757
274,232 ' 333,836
387,489 266,809
11,981 5,845
$18.508,222 $18.006.313
$280,743 $1,108,858
63,762 114,037
124,105 116,981
107,210 135,013
220,361 147,121
335 107,866
796,516 1,729,876
13,808,042
11,981
5,845
137,210 137,210
60,000
1,369,133
2,325,340 16,133,382
17,711,706 16,276,437
$18.508.222 $18.006.313
34
CITY OF DUBLIN
GENERAL FUND
STATEMENTS OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1994
WITH COMPARATIVE MIOUNTS FOR THE FISCAL YEAR ENDED JUNE 30,1993
1994 1993
Variance
Favorable
Budget Actual (Unfavorable) Actual
$10,063,940 $10,457,184 $393,244 $9,875,706
375,600 340,995 (34,605) 281,921
964,425 945,713 (18,712) 919,902
714,533 580,738 (133,795) 1,020,631
881,100 935,615 54,515 878,969
32,000 34,316 2,316 24,414
30,649 274,339 243,690 60,377
13,062.247 13,568,900 506,6.53 13,061.920
REVENUES
Taxes
Licenses and permits
Intergovermnental
Charges for services
Use of money and property
Fines and forfeitures
Other revenue
Total Revenues
EXPENDI11JRES
Current:
General government
Public safety
Highways and streets
Health and welfare
Conununity development
Culture and leisure
Capital outlay
3,145,823 2,922,3.53 223,470 3,042,107
5,982,282 5,720,727 261,55.5 5,801,802
494,116 487,451 6,665 .59.5,254
100 76 24 7,271
1,042,.521 986,292 56,229 1,297,148
1,848,665 1,709,218 139,447 1,733,786
351,697 342,723 8,974 204.239
12,865,204 12.168,840 696,364 12,681,607
197,043 1,400,060 I ,203,0 17 380,3 13
77,093 77,093 91.042
(41,884) (41,884) (39,985)
390,230
35,209 35,209 441,287
Total Expenditures
EXCESS OF REVENUES OVER (UNDER)
EXPENDI11JRES
OTHER FINANCING SOURCES (USES)
Operating transfm in
Operating transfers (out)
Contribution in aid of construction
Total Other Financing Sources (Uses)
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER (UNDER)
EXPENDI11JRES AND OTHER FINANCING USES
$197.043
1,435,269
$ 1.238.226
821.600
Fund balances beginning of year
16,276,437
1.5.454,837
Fund balances end of year
$17.711.706
$16.276.437
35
CITY OF DUBLIN
GENERAL FUND
SCHEDULE OF BUDGET VERSUS ACTUAL
DEPARTMENTAL EXPENDITURES
FOR THE FISCAL YEAR ENDED JUNE 30, 1994
1994
Vanance
Favorable
Budget Actual (Unfavorable)
General government:
City Council $112,438 $102,612 $9,826
City Manager 258,909 240,220 18,689
City Attorney 306,170 235,555 70,615
Administrative services 414,253 411,351 2,902
Building management 334,867 313,505 21,362
Insurance cost center 169,656 149,792 19,864
Elections cost center 12,910 10,818 2,092
Nondepartmental 3,804 3,804
F acilihes rents 1,532,816 1,458,500 74,316
Total General Government 3,145,823 2,922,353 223,470
Public safety:
Police 3,109,012 2,970,616 138,396
Fire Services JP A 2,733,103 2,632,168 100,935
Animal control 103,100 92.215 10,885
Disaster preparedness 37,067 25,728 11,339
Total Public Safety 5,982,282 5,720,727 261,555
Highways and streets:
Public works administration 284,016 282,509 1,507
Street maintenance 880 877 3
S !reet tree maintenance 48,960 45,768 3,192
Street landscape maintenance 160,260 158,297 1,963
Total Highways and Streets 494,116 487,451 6,665
Health and welfare:
Waste management 100 76 24
Total Health and Welfare 100 76 24
Conununity development: 49;699
PlalUling 560,879 511,180
Building safety 256,241 252,992 3,249
Engineering 215,791 215,791
Economic development 9,610 6,329 3,281
Total Community Development 1.042,521 986,292 56,229
Culture and leisure:
Library services 165,000 165,000
Heritage Center 2,781 2,234 547
Cultural activities 8,000 8,000
Park maintenance 591,955 562,328 29,627
Conununity cable television 20,279 20,279
Recreation 1,060,650 951,377 109,273
Total Culture and Leisure 1,848.665 1,709,218 139,447
Capital outlay:
Community improvements 50,000 48,603 1,397
Parks 20,000 12,424 7,576
Street construction and improvements 281.697 281,696 1
Total Capital Outlay 351,697 342.723 8.974
Total Expenditures 512.865.204 512.168,840 $696,364
36
CITY OF DUBLIN
SPECIAL REVENUE FUNDS
Traffic Safety Fund - Established to account for the receipt of traffic fines and traffic safety expenditures.
State Gas Tax Fund - Established to account for receipt of state gasoline taxes and expenditures.
Transportation Development Act Fund - Established to account for Transportation Development Act grant
receipts and construction expenditures for bike paths and access ramps for the handicapped.
Special Criminal Activity Fund - Established to account for receipt of funds derived from asset forfeitures,
Intermodal Surface Transportation Efficiency Act Fund - Established to account for receipt of Federal Aid
Urban Highway g~rants.
Community Development Block Grant Fund - Used to account for grants and expenditures related to the
community development block grants.
Park Dedication Fund - Established to account for park dedication fees received in lieu of property from
developers pursuant to the Quimby Act.
Sales Tax Measure B Fund - Established to account for an Alameda County voter approved increase in sales tax
used for improvements on streets and roads.
Measure AA Fund - Established to account for park projects funded with Measure AA grants.
Maintenance Assessment Districts - Established to account for revenue and related expenditures of lighting and
landscape activities.
SB300 Grant Fund - Established to account for grant receipts from the State used for capital improvements on
local streets.
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.
Storm Water Runoff Fund - Established to account for the use of funds received from fees collected to mitigate
pollution within the City without specific sources and to comply with Federal requirements for National Pollution
Discharge Elimination System (NPDES).
Measure D Recycling Fund - Established to account for the use of funds received which are levied by the County
pursuant to a charter amendment and are provided for recycling and related activities.
Garbage Service Fund - Established to account for the use of funds received which are levied by the county for
garbage pick-up and removal.
37
CITY OF DUBLIN
SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEETS
JUNE 3D, 1994
\\lITH CaNt? ARA TIVE AMOUNTS FOR JUNE 3D, 1993
Intmnodal Community Sales
Transportation Special Swface Development Ta.-.;
Traffic State Development Criminal Transportation Block Park Measure
Safety Gas T a.-.; Act Activity Efficiency Act Grant Dedication B
ASSETS
Cash and investments $16,961 $360,879 $21,833 538,802
Accounts receivable 523,296
Due from other governments 529,859
Total Assets $16.961 $360.879 521,833 $29,859 523.296 538.802
LIABILITIES
Accounts payable $13,237 $245 $1,887 $487 $6,378
Due to other funds 27,972 $23,296 38,701
Total Liabilities 13,237 245 29,859 23,296 487 45,079
FUND BALANCES
Unreserved:
Designated for authorized expenditures $16.961 347,642 21,588 38,315
Undesignated (45.079)
Total Fund Balances 16.961 347.642 21,588 38,315 (45,079)
Total Liabilities and Fund Balances 516.961 5360.879 $21.833 529,859 523.296 ' 538.802
38
MAINTENANCE DISTRICTS
Dougherty Stann TOTALS
Measure Street Slogecoach Landsca pc sa 300 Vehicle Water Measure D Garbage
AA Lighting Landscape & Lighting Grant Abatement Runoff Recvcling Service 1994 1993
S175,799 S24,932 S145,210 S121,071 S 1 0,880 S10,004 S117,045 D3,882 SI,077,298 S827,643
S19,903 1,285 343 233 107,379 5,522 6,282 164,243 190,084
29.859 13,716
S19.903 Sl77,084 S25,275 5145.443 S228.450 S10,880 515.526 S117.045 $40.164 $1.271.400 $1,031.443
5292,564
109,083
5336,203
119,077
5789
19.114
S14,984
56,358
S8,957
5228,450
S25
SIO,661
5106
19,903
14,984
6.358
8.957
228,450
25
10,661
106
401,647
455,280
162,100 18,917 136,486 10,855 4,865 116,939 S40,164 914,832 421,574
(45,079) 154.589
162,100 18.917 136.486 10,855 4,865 116,939 40,164 869,753 576.163
S19.903 5177.084 525,275 $145.443 5228,450 510,880 S15,526 S117,045 S40.164 51.271.400 S 1.031.443
39
40
16,596
145,504
$162.100
17.688
$18.917
1,229
136.894
$136.486
(408)
10,855
$10.855
41
(24,478)
29,343
$4.865
90,482
26,457
$116.939
40,164
$40.164
293,590
576.163
$869.753
293,913
282.250
$576.163
42
TRANSPORTATION DEVELOPMENT ACT
Variance
Favorable
Budget Actual (Unfavorable)
SPECIAL CRIMINAL ACTIVITY
Variance
Favorable
Budget Actual (Unfavorable)
INTERMODAL SURFACE TRANSPORT-
ATION EFFICIENCY ACT
Variance
Favorable
Budget Actual (Unfavorable)
$75,000
($75,000)
$2,068,000
$29,859
($2,038,141)
$600
$1,078
11,993
$478
5,000
6,993
75,000
(75,000)
5,600
13,071
7,471
2,068,000
29,859
(2.038,141)
2,450
2,450
10,370
7,022
3,348
72,550 651 71,899
1,884,000 . 1,884,000
29,859 (29,859)
75,000 651 74,349 10,370 7,022 3,348 1,884,000 29,859 1.854,141
(651) (651) (4,770) 6,049 10,819 184,000 (184,000)
451 451
451 451
(200)
200
($200)
($4,770)
6,049
15,539
$21.588
$10.819
$184,000
($184,000)
(Continued)
43
CITY OF DUBLIN
BUDGETED SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR TI-IE FISCAL YEAR ENDED JUNE 30, 1994
COMMUNITY DEVELOPMENT
BLOCK GRANT PARK DEDICATION
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable ) Budget Actual (Unfavorable)
REVENUES
Sales and use taxes
Intergovernmental $86,~82 ' $86,681 $99
Charges for services
Use of money and property $1,530 $3,471 $1,941
Fines and forfeitures
Other revenue
Special assessments
Total Revenues 86,582 86,681 99 1,530 3,471 1,941
EXPENDITURES
General government
City Council
Public safety
Police
Traffic signals and streetlights
Highways and streets
Public works administration
Street tree maintenance
Street sweeping
Street landscaping maintenance
Street maintenance
Health and Welfare. Waste management
Conuuunity development. Engineering
Capital outlay
Dublin Boulevard Extension # 1
Almual street overlay project
Dublin Sports Grounds renovation 21,000 20,546 454
Dublin Swim Center 80,082 80,082 34,582 33,166 1,416
North Avenue bike path
Heritage Center 6,621 388 6,233
Dublin Boulevard Ell.1ension #2
Shannon NPDES pilot project
BenclulIarks & Monuments
Stagecoach Landscape upgrade
Dougherty Road/Sierra Signal
Total Expenditures 80,082 80.082 62,203 54,100 8,103
EXCESS OF REVENUES
OVER(UNDER) EXPENDITURES 6.500 6.599 99 (60,673 ) (50,629) 10,044
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers (out) (6.599) (6,599) (2,852) (2.852)
Total Other Financing Sources (Uses) (6,599) (6,599) (2,852) (2,852)
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER (UNDER)
EXPENDITURES AND OTHER
FINANCING USES $6.500 ($6.500) ($60,673) (53,481) $7.192
Fund balances at beginning of year 91,796
fund balances at end of year $38,315
44
SALES T A.\': MEASURE B MEASURE AA STREET LIGHTING
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$114,000 $117,623 $3,623
$136,338 $17,051 ($119,287)
170 2,727 2,557 $6,980 $8,159 $1,179
7,500 12,256 4,756
182,615 186,530 3.915
114,170 120,350 6,180 136.338 17,051 (119,287) 197,095 206,945 9,850
197,500
186,095
11,405
1,944 1,943
4,971
2,311
2.660
209,198
184,406
24,792
136,337
19,903
116,434
209,198
184,406
24,792
136,337
19,903
116.434
204.415
190.349
14.066
(95,028)
(64.056)
30.972
(2,852)
(2,853)
(7,320)
16.596
23.916
2,852 2,852
2,852 2,852
($95.028)
(64,056)
530.972
523.916
51
(51)
($7.320)
16,596
145,504
$162,100
18,977
($45.079)
(Continued)
45
46
SB 300 GRANT VEHICLE ABATEMENT
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$96,040 $107,379 $11,339 $17,700 $15,637 ($2,063 )
10,594 10,594 510 263 (247)
96,040
29,425
107,379
10,594
147,398
(51,358)
($51.358)
117,973
29,425
107,379
10,594
147,398
(29,425)
21,933
21,933
29,425 29,425
29,425 29,425
$51,358
18,210
7,800
7,800
10,410
$100410
IS ,900
5,045
5,045
10,855
10,855
$10,855
47
(2,310)
2,755
2,755
$445
STORM WATER RUNOFF
Variance
Favorable
Budget Actual (Unfavorable)
$38,266
164,971
203,237
$38,266
162,200
706
201,172
6,720
69,986 69,986
5,336
111,650
Ill,650
38,679 38,678
227,035
445
(23,798)
($23.798)
225,650
(24,478)
(24,478)
29,343
$4.865
($2,771)
706
(2,065)
1,384
1,385
(680)
($680)
(Continued)
CITY OF DUBLIN
BUDGETED SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1994
MEASURE D RECYCLING GARBAGE SERVICE
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
REVENUES
Sales and use taxes
Intergovemmomtal $87,719 $87,719
Charges for services $551,586 $580,258 $28,672
Use of money and property $260 2,961 2,701 2,330 2,330
Fines and forfeitures
Other revenue
Special assessments
Total Revenues 260 90,680 90,420 551,586 582,588 31,002
EXPENDITURES
General government
City Council
Public safety
Police
Traffic signals and street lights
Highways and streets
Public works administration
Street tree maintenance
Street sweeping
Street landscaping maintenance
Street maintenance
Health and Welfare. Waste management 20,650 198 20,452 551,586 542,424 9,162
Community development. Engineering
Capital outlay
Dublin Boulevard Extension III
Ammal street overlay project
Dublin Sports Grounds renovation
Dublin Swim Center
North Avenue bike path
Heritage Center
Dublin Boulevard Extension #2
Shnrulon NPDES pilot project
Benchmarks & Monuments
Stagecoach Landscape upgrade
Dougherty Road/Sierra Signal
Total E"'Penditures 20,650 198 20,452 551,586 542,424 9,162
EXCESS OF REVENUES
OVER(UNDER) EXPENDITURES (20.390) 90,482 11 0,872 40,164 40.164
OTHER FINANCING SOURCES (USES)
Operating transfers in
Operating transfers (out)
Total Other Financing Sources (Uses)
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER (UNDER)
EXPENDITURES AND OTHER
FINANCING USES ($20.390) 90,482 $110,872 40,164 $40,164
Fund balances at beginning of year 26,457
Fund balances at end of year $116,939 $40.164
48
TOTALS
Variance
Favorable
Budget Actual (Unfavorable)
$114,000 $117,623 $3,623
2,974,726 852,324 (2,122,402)
716,557 742,458 25,901
29,200 51,059 21,859
26,500 33,964 7,464
15,400 26,263 10,863
288,263 296,286 8,023
4,164,646 2.119,977 (2,044,669)
2,450 2,450
18,170 12,067 6,103
291,000 268,372 22,628
2,738 2,736 2
10,773 6,807 3,966
69,986 69,986
110,085 105,135 4,950
177,802 158,821 18,981
572,236 542,622 29,614
124,740 121,478 3,262
29,425 29,425
316,577 291,785 24,792
21,000 20,546 454
114,664 113,248 1,416
72,550 651 71,899
142,958 20,291 122,667
1,894,594 10,594 1,884,000
38,679 38,678 1
2,063 2,063
4,500 4,500
29.859 (29,859)
4,016,990 1,849,664 2,167,326
147,656 270,313 122,657
32,728 32,728
(9,451 ) (9,45l)
23,277 23,277
$147.656
293,590
$145,934
576,163
$869.753
49
CITY OF DUBLIN
CAPITAL PROJECTS FUNDS
Capital Projects Fund - To account for acquisitions and constructions of capital facilities other than those
financed by proprietary funds.
The Dublin Boulevard Extension #1 Capital Projects Fund was established to account for infrastructure
improvements financed with resources received from other governmental agencies.
The Dublin Boulevard Extension #2 Capital Projects Fund was established to account for infrastructure
improvements financed by the Dublin Boulevard Assessment District.
51
CITY OF DUBLIN
CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEETS
ruNE 30,1994
WITH COMPARATIVE AMOUNTS FOR mNE 30,1993
Dublin Dublin TOTALS
Capital Boulevard Boulevard
Projects Extension # 1 Extension #2 1994 1993
ASSETS
Cash and investments $128,435 $128,435 $102,303
Receivables:
Accounts 110,796 $2,756 113,552 121,796
Interest 644 644 751
Condenmation deposits 32,600
Total Assets $239,231 $3.400 $242,631 $257.450
LIABILITIES
Accounts payable $22,381 51,441 $23,822 $24,145
Deposits payable 216,850 216,850 139,881
Deferred revenue 110,796 110,796 110,796
Due to other funds 278.406 278,406 147,729
Total Liabilities 350,027 279,847 629,874 422.551
FUND BALANCES
Reserved for condenmation deposits 32,600
Undesignated (110,796) (276,447) (387,243) (197,701 )
Total Fund Balances (Deficit) (110,796) (276,447) (387,243) (165,101)
Total Liabilities and Fund Balances $239.231 $3.400 $242,631 $257.450
52
CITY OF DUBLIN
CAPITAL PROJECTS FUNDS
COMBINING STATEMENTS OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
FOR THE FISCAL YEAR ENDED JUNE 30,1994
WITH COMPARATIVE AMOUNTS FOR THE FISCAL YEAR ENDED JUNE 30,1993
Dublin Dublin TOTALS
Capital Boulevard Boulevard
Projects Extension # I Extension #2 1994 1993
REVENUES
Intergovernmental $10,437
Use of money and property $20,677 $693 $21,370 31.191
Other revenue $51,146 2.757 53,903 55,365
Total Revenues 51,146 23,434 693 75,273 96,993
E.,'<PEND ITURES
Capital outlay:
Dougherty Road improvements 7,370 7,370 198
Dublin Boulevard\Silvergate
Drive improvements 3,702
Dublin Boulevard improvements/San
Ramon Road to Village Parkway 23,969 23,969 5,043
Dublin Boulevard E"1ension #1 163,885 163,885 201,653
Dublin Boulevard E"1ension #2 4,340 2,028 6,368 929,021
Traffic fee impact study 12,429 12,429
Dougherty Hills Park 11,000
Total E"'Penditures 48,108 163.885 2,028 214,021 1,150,617
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES 3,038 (140,451) (1,335) (138,748) (1,053,624)
OTHER FINANCING USES
Operating transfers (out) (69,731) (763) (70,494)
Total Other Financing Uses (69,731) (763) (70,494)
EXCESS OF REVENUES OVER
(UNDER) EXPENDITIJRES AND
OTHER USES (66,693 ) (140,451) (2,098) (209,242) (1,053,624)
Fund balances (deficits), begilUling of year, as restated (44,103) (135,996) 14,998 (165,101) 888,523
Residual equity transfers (out) (12,900) (12,900)
Fund deficits, end of year ($110.796) ($276.447) ($387.243) ($165.101)
53
REVENUES
Use of money and property
Other revenue
Total Revenues
EXPENDITURES
Capital outlay:
Dougherty Road improvements
Dublin BoulevardlSilvergate
Drive improvements
Dublin Boulevard improvements/San
Ramon Road to Village Parkway
Dublin Boulevard Extension #1
Dublin Boulevard E:\1ension #2
T raffie fee impact study
Total Expenditures
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES
OTHER FINANCING USES
Operating transfers (out)
Total other Financing Uses
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES AND
OTHER USES
Fund balances (deficits), end of year
Residual equity transfers (out)
Fund deficits, end of year
CAPITAL PROJECTS DUBLIN BOULEVARD EXTENSION #1
Variance Variance
Favorable Favorable
Budget, Actual (Unfavorable) Budget Actual (Unfavorable )
$4,340 ($4,340) $358,445 $20,677 ($337,768)
567,000 $51,146 (515,854)' 2,757 2,757
571,340 51,146 (520,1941 358,445 23,434 (335,011)
CITY OF DUBLIN
CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE FISCAL YEAR ENDED JUNE 30, 1994
46,000
7,370
38,630
471,000 23,969 447,031
4,340 4,340
29.290 12,429 16.861
550,630 48,108 502,522
20,710 3,038 (17,672)
(69,731) (69,731 )
(69,731) (69,731 )
164,065
163,885
164,065
163,885
194,380
(140,451)
$20.710
(66,693)
($87,403)
$194.380
(140,451)
(44,103)
(135,996)
($ 11 0.796)
($276.447)
54
180
180
(334,831)
($334.831 )
DUBLIN BOULEVARD E)"'TENSION #2 TOTALS
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$693 $693 $362,785 $21,370 ($341,415)
567.000 53,903 ( 513,097)
693 693 929,785 75,273 (854,512)
46,000
7,370
38,630
471,000 23,969 447,031
164,065 163,885 180
13,041 2,028 11,013 17.381 6,368 11,013
29,290 12,429 16,861
13,041 2,028 11,013 727,736 214.021 513,715
(13,041) (1,335) ll,706 202,049 (138,748) (340,797)
(763 ) (763) (70,494) (70.494)
(763) (763) (70,494) (70,494)
($ 13.041)
(2,098)
$10.943
$202.049
(209,242)
($411,291)
14,998
(165,101)
(12,900)
(12,900)
($387.243)
55
CITY OF DUBLIN
AGENCY FUNDS
Agency funds are used to account for assets held by the City in a fiduciary capacity for individuals, governmental
entities and others. These funds carry out the specifications of trust indentures, ordinance or other regulations.
San Ramon Road Specific Improvement Plan Agency Fund - To account for special assessments collected to
repay the Special Assessment Bonds which were issued to fund improvements to San Ramon Road and Amador
Valley Boulevard. These Bonds were retired July 2, 1993. Remaining cash on hand will be used to maintain the
improvements constructed by this District.
Employee Deferred Compensation Plan - To account for assets of the City's Employee Deferred Compensation
Plan.
Dublin Boulevard Extension Assessment District Fund - To account for the special assessment established to
fund the improvements to Dublin Boulevard.
57
CITY OF DUBLIN
AGENCY FUNDS
STATEMENTS OF CHANGES IN ASSETS AND LIABll..ITlES
FOR THE FISCAL YEAR ENDED JUNE 30, 1994
Balance Balance
June 30.1993 Additions Reductions JundO, 1994
San Ramon Road Specific Improvement Plan
Cash and investments $528,973 $115,698 $595,693 $48,978
A.::counts receivable 331 331
Total Assets $529,304 $115.698 $596.024 $48.978
Accounts payable $169 $169
Deposits payable 3,125 3,125
Deferred revenue 45,684 45,684
Due to bondholders $529,304 66,720 $596,024
Total Liabilities $529.304 $115,698 $596.024 $48.978
Employee Deferred Compensation Plan
Deferred compensation mutual funds $157.929 $62,161 $3.499 $216.591
Deferred compensation payable $157,929 $62.161 $3.499 $216,591
Dublin Boulevard Extension Assessment District
Cash and investments $90,708 $253,022 5170,817 $172,913
Restricted cash and investments 121,210 121,210
Accounts receivable 168 168
Total Assets 5212,086 5253.Q22 $170.985 $294.123
Due to bondholders 5212.086 5253.022 $170.985 $294.123
Total Agencv Funds
Cash and investments $619,681 $368,720 $766.510 $221,891
Restricted cash and investments 121,210 121,210
Accounts receivable 499 499
Deferred compensation mutual fimds 157,929 62,161 3.499 216,591
Total Assets 5899.319 5430.881 $770,508 $559.692
Accounts payable $169 $169
Deposits payable 3,125 3,125
Deferred revenue 45,684 45,684
Due to bondholders $741,390 319,742 $767,009 294,123
Deferred compensation payable 157.929 62,161 3,499 216,591
Total Liabilities ' $899,319 $430,881 $770,508 $559.692
58
STATISTICAL SECTION
CITY OF DUBLIN
GOVERNMENT AL EXPENDITURES BY FUNCTION
ALL GOVERNMENTAL FUND TYPES
LAST TEN FISCAL YEARS
Public
General Safety and
Governmental Health Highways Culture
Fiscal and Facilities and and Community and Capital
Year Rents Welfare Streets Development Leisure Outlay Total
1984-1985 $361,392 $1,494,855 $319,247 $602,567 $224,588 $1,982,847 $4,985,496
1985-1986 542,616 1,676,247 635,445 961.541 309,092 3,641,282 7,766,223
1986-1987 2,208,131 1,770,331 730,051 1,062,858 365,193 3,668,733 9,805,297
1987-1988 2,308,376 2,039,119 813,482 1,091.901 524,622 2,914,458 9,691.958
1988-1989 1,286.201 3,986,097 941,276 1,336,870 1,026,538 3,214,398 11,791,380
1989-1990 2.047,506 4,672,847 1.021,641 1,583,504 1,274,861 2,652,683 13,253,042
1990-1991 3,593,481 5,095,032 1,041,627 1,827,354 1,459,419 3,403,128 16,420,041
1991-1992 3,339,061 5,683,582 1,025,265 1,541,207 1,682,262 5,273,041 18,544,418
1992-1993 3,066,025 6.091,718 998,843 1,409,594 1,733,786 2,697,724 15,997,690
1993-1994 2,922,353 6,543.864 830,936 1,107,770 1,709,218 1,118,384 14,232,525
Source: City of Dublin Annual Fi.nancial Report
Includes Fire Services and Culture and Leisure Services Responsibilities
Assumed July I, 1988.
Includes Federal Aid Urban Expenditures Beginning in 1986-1987.
61
CITY OF DUBLIN
GENERAL GOVERNMENTAL REVENUES BY SOURCE
ALL GOVERNMENTAL FUND TYPES
LAST TEN FISCAL YEARS
Use of
Licenses Charges Money Fines
Fiscal and Inter- for And and Other Special
Year Taxes Permits Governmental Services Property Forfeits Revenue Assessments Total
1984-1985 $4,738,818 $333,982 $1,456,930 $260,217 $1,004.263 $68,301 $556,690 $137,145 $8,556,346
1985-1986 5,062,103 410.246 1,436,379 682,324 1.111,034 68,995 381,784 435,995 9,588,860
1986-1987 5,837,811 586,320 1,965,454 593,407 883,644 91,755 501,802 157,704 10,617,897
1987-1988 6.179,005 532,696 1,660,205 466,673 1,074,160 94.584 593,069 246,915 10,847,307
1988-1989 9,305,662 292,189 2.567,703 738.314 1,183,847 104,641 68,617 262.197 14,523,170
1989-1990 9,769,276 315,010 1,667,801 1.090,386 1,405,882 91,221 908,784 287,205 15,535,565
1990-1991 10,312,208 248,116 2,564,553 1,196,484 1,388,351 82.367 383,423 281,428 16,456,930
1991-1992 9,805,734 246,459 2,489,765 1.085,251 1,125,154 58,501 1,051,625 275,890 16.138,379
1992-1993 9,986,544 281,921 2,810,875 1,171,564 951,267 50,780 124,493 292.224 15,669,668
1993-1994 10,574,807 340,995 1,798.037 1,323,196 1.008,044 68,280 354,505 296,286 15,764,150
Source: City of Dublin Annual Financial Report
62
CITY OF DUBLIN
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
Total
Fiscal Secured Unsecured Assessed
Year Property Utility Property Valuation
1984-1985 $515,660,344 $13,182,170 $64,760,035 $593,602,549
1985-1986 598,426,296 14,662,390 74,740,855 687,829,541
1986-1987 721,792,937 16,371,040 82,214,150 820,378,127
1987-1988 802,835,061 18,759,300 85,253,484 906,847,845
1988-1989 962.867,790 1.812,200 84,339,466 1,049,019,456
1989~1990 1,086,479,184 1,812,200 94,717,004 1,183,008,388
1990-1991 1.195,196,327 4,536,700 90,697,434 1,290,430,461
1991-1992 1,285,655,755 4,536,700 92,332.101 1,382,524,556
1992-1993 1,344,318,745 4,536,700 92,379,123 1,441,234,568
1993-1994 1,400,427,455 4,536,700 97,399.163 1,502,363,318
Source: Alameda County Office of the Auditor--Controller
63
CITY OF DUBLIN
PROPERTY TAX RATES
ALL OVERLAPPING GOVERNMENTS
LAST TEN FISCAL YEARS
Basic Flood Bay East Dublin
County Zone Area Bay San Ramon Alameda
Fiscal Wide Levy School State Rapid Parks Services County
Year ($11$100) Districts Bonds Transit Bond District Library Total
1984-1985 $1.0000 $0.2045 $0.0291 $0.0572 $0.0156 $0.0091 $1.3155
1985-1986 1. 0000 0.1136 0.0429 0,0508 0.0055 1.2128
1986-1987 1. 0000 0.0820 0.0185 0.0421 0.0051 1.1477
1987-1988 1. 0000 0.0958 0.0119 0.0390 0.0032 0.0017 1.1516
1988-1989 1.0000 0,0862 0.0183 0.0372 0.0019 0.0019 1.1455
1989-1990 1.0000 0.0701 0.0198 0.0319 $0.0047 0.0020 0.0019 1.1304
1990-1991 1. 0000 0.1003 0.0142 0.0250 0.0032 0.0007 0.0013 1.1447
1991-1992 1.0000 0.0935 0.0133 0.0251 0.0028 0.0010 0.0058 1.1415
1992-1993 1. 0000 0.0878 0.0132 0.0258 0.0074 '" 0.0061 1.1403
1993-1994 1. 0000 0.0717 0.0182 0.0240 0.0069 '" 0.0060 1.1268
Source: Alameda County Office of The Auditor-Controller
'" No longer assessed, bonded debt fully repaid
64
CITY OF DUBLIN
COMPUTATION OF LEGAL DEBT MARGIN
JUNE 30, 1994
Assessed valuation:
Assessed value
Add back exempt real property
$1,502,363,318
43,068,116
Total Assessed Value
$1,545,431,434
Legal debt margin:
Debt limitation - 15 percent of total assessed value
$231,814,715
Percent of debt limit authorized and issued
0.00%
Source: City of Dublin Finance Department
Excludes Certificates of Participation and 1915 Act Bonds since
they are not General Obligation Debt.
65
CITY OF DUBLIN
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
JUNE 30, 1994
Net Debt
Percentage Outstanding
Applicable Applicable
to City of to City
Dublin of Dublin
2,175% $7,137,676
2.175% 163,451
1.088% 129,956
0.850% 1,756,313
12.731% 37,556
99.536% 14,987,177
99.536% 168,980
99.536% 8,803
99.536% 188,183
1.214% 1,440,168
100.000% 17,615,000
100.000% 2,350,000
45,983,263
129,956
$45,853,307
Jurisdiction
Alameda County Authorities
Alameda County Superintendent of Schools
Oakland-Alameda County Coliseum Authority
Bay Area Rapid Transit District
Alameda County Flood Control District, Zone #7
Dublin Joint Unified School District
Dublin Jaint Unified School District Certificates of Participation
Amador Valley Joint Union High School District
Murray School District
East Bay Regional Park District
City of Dublin 1993 Certificates of Participation
City of Dublin 1915 Act Bonds
Total Gross Direct and Overlapping Bonded Debt
Less: Oakland-Alameda County Coliseum Authority
(100% SELF-SUPPORTING) .
Total
(1) Excludes tax and revenue anticipation notes; revenue, mortgage revenue and
tax allocation bonds; and non-bonded capital lease.
Source: California Municipal Statistics, Inc. adjusted for City of Dublin for 1993 COP's issue.
66
CITY OF DUBLIN
DEMOGRAPHIC STATISTICS
LAST TEN FISCAL YEARS
Alameda City Rank in Size
Fiscal County Population of California
Year Population Population % of County Cities
1984-1985 15,500 1,166,800 1.33% 232
1985-1986 15,450 1,181,000 1.31% 237
1986-1987 17,650 1,201,400 1.47% 231
1987-1988 20,850 1,214,200 1.72% 218
1988-1989 21,950 1,234,900 1.78% 221
1989-1990 23,550 1,252,600 1.88% 220
1990-1991 23,500 1,293,000 1.82% 230
1991-1992 25.162 1,313,300 1.92% 222
1992-1993 25,853 1,337,126 1.93% 224
1993-1994 24,947 1.334,127 1.87% 225
Source: State of California Department of Finance - Population Research Unit.
67
CITY OF DUBLIN
PROPERTY VALUE, CONSTRUCTION AND BANK DEPOSITS
LAST TEN FISCAL YEARS
Total Commercial Residential
Fiscal Number of Construction Construction Bank
Year Permits Issued Value Value Deposits
1984-1985 768 $16,093,749 $18,991,926 $247,622,000
1985-1986 868 17,720,298 90,012,961 294,462,000
1986-1987 1.193 11,784.734 44,889,395 336.751,000
1987-1988 1,068 12,777,965 52,580,666 378,557,000
1988-1989 901 13,654,511 15,911.836 399,923,000
1989-1990 910 6.367,726 30,536,676 439,781,000
1990-1991 752 7,604,547 8,074,458 450,215,000
1991-1992 798 9,759,533 5,005,547 517,540,000
1992-1993 828 5.477,619 7,732,367 533,885,000
1993-1994 721 8,162,579 3.490,667 +
Sources: Fi.ndley Reports, Inc. and City of Dublin Building Department Status Reports
+ Data not available
68
CITY OF DUBLIN
MISCELLANEOUS STATISTICAL DATA
JUNE 30, 1994
Date of Incorporation February 1982 Education:
Form of Government CouncillManager 1. Public:
Employees 32,50 Elementary Schools 3
Population 25,853 Middle School 1
Area 9.0 Sq. Miles High School 1
Miles of streets 52.60 Continuation 1
Miles of Curbs 124.70
Signaled Intersections 20
Number of Street Lights 1,710
Average Daily Trips on 1-680 115,000
Average Daily Trips on 1-580 140,000
Fire Protection: Public School Enrollment:
Dougherty Regional Fire Authority- September 1982 3,643
(Service area includes City of Dublin September 1983 3,442
and a portion of the City of San Ramon) September 1984 3,354
Number of Stations 2 September 1985 3,326
Number of Fire Personnel 47 - Safety September 1986 3,407
2 - Non-safety September 1987 3,499
September 1988 3,213
Police Protection: September 1989 3,135
Number of Stations I September 1990 3,150
Number of Police Officers 28 September 1991 3,173
Number of Support Personnel 3.5 September 1992 3,379
September 1993 3,511
September 1994 3,550
Parks and Recreation:
Parks
Acres in Parks
9
147
Number of Registered Voters
11 ,780
II. Private Schools Enrollment
for 93/94 School Year:
Valley Christian:
Elementary
Junior High
High
St. Philip Lutheran Elementary (Pre K-6th)
St. Raymonds Catholic School (K-8)
Montessori Fountainhead (Pre k-3rd)
542
112
184
175
248
135
1,396
Community Facilities:
Dublin Civic Center
Dublin Senior Center
Shannon Community Center
Dublin Swim Center
Dublin Sports Grounds
Source: City and School District Records
69
CITY OF DUBLIN
SCHEDULE OF 1985 CERTIFICATES OF PARTICIPATION COVERAGE
FISCAL YEARS 1985-1988
Net Revenue Debt Service
Direct Available Requirements
Fiscal Gross Operating For Debt
Year Revenue (I) Expenses (2) . Service Principal Interest T ota! Coverage
1985-1986 $667,811 $667,811 $667,811 $667,81 I 100.000%
1986-1987 1,815,555 $443,194 1,372,361 $173,000 1,078,080 1,251,080 109.694%
1987-1988 13,180,797 27,216 13,153,581 11,795,000 (3) 1,066,403 12,861,403 102.272%
(I) Gross Revenue includes Rent, Interest Income and 1985 Certificates of Participation
proceeds earmarked for Debt Service. The 1987-1988 total includes $11,615,000
principal amount of 1988 Certificates of Participation Proceeds used to defease
the 1985 Certificates of Participation.
(2) Direct Operating Expenses Excludes Interest and Depreciation
(3) Includes $11,615,000 principal amount of 1985 Certificates of Participation
Defeased in 1988 and no Longer the City's Debt
Source: City of Dublin Annual Financial Report
70
CITY OF DUBLIN
SCHEDULE o.F 1988 CERTIFICATES OF PARTICIPATION COVERAGE
FISCAL YEARS 1989-1993
Net Revenue Debt Service
Direct Available Requirement
Fiscal Gross Operating for Debt
Year Revenue (1) Expenses (2) Service Principal Interest (3) Total Coverage
1988-1989 $1,547,681 $33,328 $1,514,353 $1,178,501 $1,178,501 128.50%
1989-1990 1,452,254 30,945 1,421,309 1,282,483 1,282,483 110.82%
1990-1991 1,740,720 42,264 1,698,456 $420,000 1.254,131 1,674,131 101.45%
1991-1992 1,735,357 45,609 1,689,748 445,000 1,240,333 1,685,333 100.26%
1992~1993 17,954,702 15,921.320 2,033,382 470,000 1,230,804 1,700,804 119.55%
(1) Gross Revenue Includes Facilities Rent, Interest Income and 1988 Certificates of Participation Proceeds
for Debt Service. 1992-1993 total includes $16,123,345 of 1993 Certificates of Participation proceeds,
used to defease the 1988 COP's.
(2) Direct Operating Expenses Excludes Interest and Depreciation. Includes $15,895,000 principal amount
of 1988 Certificates of Participation defeased in 1993 which is no longer the City's debt.
(3) Excludes amortization of bond discount.
Source: City of Dublin Annual Financial Report
71
CITY OF DUBLIN
SCHEDULE OF 1993 CERTIFICATES OF PARTICIPATION COVERAGE
FISCAL YEAR ENDED JUNE 30, 1994
Net Revenue Debt Service
Direct Available Requirement
F isca1 Gross Operating for Debt
Year Revenue (1) Expenses (2) Service Principal Interest (3) T ota! Coverage
1993-1994 $1,564.715 $12,874 $1,551,841 $910,000 $622,816 $1,532,816 101.24%
(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
72
CITY OF DUBLIN
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM
FUNDING ANALYSIS
FISCAL YEARS 1986-1992
Net Assets Pension
Fiscal Available Benefit
Year For Benefits Obligation
1986-1987 $224,510 $193,490
Percent
Funded
116.03%
1987-1988
103.06%
331,670
321,820
1988-1989
485,870
112.09%
433,477
1989-1990
115.69%
673,728
582,374
1990-1991
121.22%
871.272
718,724
1991-1992
1,016,722
111.40%
1,132,606
The above information was not available for years prior to
1986 or for Fiscal Year 1993.
Source: California Public Employees Retirement System. (PERS)
73
Overfunded
Pension
Benefit
Obligation
$31,020
9,850
52,393
91,354
152,548
115,884
Annual
Covered
Payroll
$641,910
818,530
1,034,010
1,241,152
1,507,749
1,529,925
Percent of
Overfunded
Pension
Benefit
Obligation
to Annual
Covered
Payroll
4.83%
1.20%
5.07%
7.36%
10.12%
7.57%
CITY OF DUBLIN
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
Percent
of Total
Total Tax
Property Property Collected
Fiscal Tax Tax to Tax
Year Levied Collected Levied
1984-1985 $399,650 $380,095 95.11%
1985-1986 467,835 444,612 95.04%
1986-1987 553,730 523,149 94.48 %
1987-1988 618.512 590,860 95.53%
1988-1989 (I) 2,915,555 2,797,473 95.95%
1989-1990 3,286,145 3,149,417 95.84%
1990-1991 3,570,018 3,399,795 95.23%
1991-1992 3,860,349 3,611,824 93.56%
1992-1993 (2) 3,597,733 3,465,193 96.32%
1993-1994 3,767,484 3,632,945 96.43%
(1) Effective July I, 1988, the City assumed responsibility for park maintenance and fire protection services
from Dublin/Sau Ramon Services District, which operated these functions prior to 1988-1989. At this
time the City also acquired property taxes previously levied by Dublin/San Ramon Services District.
(2) In fiscal year 1992/93, state law was enacted which permanently reduced tlle City share of the
property tax levy and shifted it to tlle schools.
Source: Alameda County Aud'itor - Controller Office
74
CITY OF DUBLIN
PRINCIPAL T AXP AYERS
JUNE 30, 1994
Taxpayer
Secured
Assessed
Value
Percent
of Total
Secured Assesse
Value
Cottonwood Associates
248 Apartment/Condominium Units
"Cottonwood"
$19,271,604
1.3761%
Metric Institutional Company Investment Partners II
204 Apartment/Condominium Units
"Amador Oaks"
18,200,796
1.2997%
Dublin Meadow Partners
206 Apartment/Condominium Units
"Dublin Meadows"
17,183,030
1.2270%
Rafanelli & Nahas & VM Rafaenelli Vineyards
224 Apartment/Condominium Units
"Parkwood"
17,050,154
1.2175%
Sierra Dublin Properties
Business Park
" Sierra/Trinity"
16,699,393
1.1924%
Phoenix Mutual Life Insurance Company
200 Apartment/Condominium Units
"Amador Lakes - Lot 5"
15,237,805
1.0881 %
Dublin Associates
Retail Shopping Center
"Target, et al"
15,109,751
1.0789%
Rafanelli & Nahas
255 Apartment/Condominium Units
"Amador Lakes - Lots 3 and 4"
14,742,883
1.0527%
Liberty House Properties
Retail Shoppping Center
"Home Express, Orchards Supply Hardware, etc."
13,229,896
0.9447%
Amador Lakes Associates
100 Apartment/Condominium Units
" Amador Lakes"
12,016,602
0,8581 %
$158,741.914
11.3352 %
Total
Source: County of Alameda
75
e
e
CITY OF DUBLIN'S
FINANCIAL STATEMENTS
FOR
FISCAL YEAR ENDING 6/30/94
(Final After Audit)
Prepared by
The Finance Department
October 12, 1994
"
E"~lUDrr J ~
^Dl~Dd i 0'
/
/
e .
BGLI02 CITY OF DUBLIN
10/12/94 BALMICE SHEET
FOR THE
PERIOD 7/93 THROUGH 6/94
GENERAL SPECIAL SPECIAL CAPITAL
REVElIUE REVElIUE ASSESSMEIIT IMPROVEHElIT
FUNDS FUNDS FUNDS FUNDS
ASSETS
CASH 1872293.66- 731358.45 567832.34 128434.99
CASH WITH FISCAL AGENT 121210.04
UNAMORTIZED BOirD DISCOUNT
I INVESTMENTS AT COST 19015041.49
RECEIVABLES: TAXES 37974.26
ACCOUl/TS (NET) 385783.18 155123.02 113551.97
IIITEREST 305989.28 643.91
ASSESSM~lITS 7260.87 1860.57
REnTS
1I0TES
DUE FROM OTHERS 623746.69 29859.02
INVENTORY AT COST
PREPAID ITEMS 11980.68
FIXED ASSETS
AMOUNTS TO BE PROVIDED 2232500.00
TOTAL ASSETS 18508221. 92 923601.36 2923402.95 242630.87
LIAB, FND BAL, RETtlD EARNINGS
DEPOSITS FOR PRIVATE DEVELPMNT 36873.76-
DEPOSITS FOR AB1600 FEES 216850.00-
DEPOSITS OTHERS 194441.18- 3125.00-
PAYABLES:ACCOOlITS 280742.51- 262266.92- 30467.22- 23821.45-
INTEREST
PAYROLL 63762.54-
DUE TO OTHERS 335.00- 109082.81- 278406.20-
DEBT INSTRUMENTS PAYABLE 2350000.00-
TOTAL LIABILTIES 576154.99- 371349.73- 2383592.22- 519077.65-
fUND BALANCES 17932066.93- 552251.63- 539810.73- 276446.78
TOTAL FUND EQUITY 17932066.93- 552251. 63- 539810.73- 276446.78
TOTAL LIAB,FND BAL, RETD EARNS 18508221.92- 923601.36- 2923402.95- 242630.87-
, I
BGL102
10/12/94
ASSETS
CASH
CASH WITH FISCAL AGENT
UNAMORTIZED 801ID DISCOUNT
INVESTMENTS AT COST
RECEIVABLES: TAXES
ACCOUNTS (NET)
INTEREST
ASSESSMENTS
RENTS
NOTES
DUE FROM OTHERS
INVENTORY AT COST
PREPAID ITEMS
FIXED ASSETS
AUOUNTS TO BE PROVIDED
TOTAL ASSETS
LIAB, FND'BAL, RETlfD EARNINGS
DEPOSITS FOR PRIVATE DEVELPMNT
DEPOSITS OTHERS
PAYABLES:ACCOUNTS
INTEREST
PAYROLL
DUE TO OTHERS
DEBT INSTRUMEIlTS PAYABLE
TOTAL LIABILITIES
. FUND BALANCE
CONTRIBUTIONS
INVESTMENTS IN FIXED ASSETS
RETAINED EARNINGS
TOTAL FUND EQUITY
TOTAL LIAB,FHD BAL, RETD EARNS
e
CITY OF DUBLIN
BALANCE SHEET
FOR THE
PERIOD 7/93 THROUGH 6/94
e
INTERlfAL
SERVICE
FUND
EIlTERPRISE FIXED ASSETS GENERAL LONG
FUlIDS GROUP OF TERM DEBT
ACCOUNTS ACCOUNT GROUP
334575.61 14687.48
1732248.07
46954.43
2878.60
153663.97 21110330.12
491118.18 22904220.10
798.90-
14427.55-
17993643.25-
798.90- 18008070.80-
312980.72- 213740.70
177338.56- 5109890.00-
490319.28- 4896149.30-
479805.26
2713930.44
479805.26 2713930.44
2713930.44-
2713930.44-
479805.26-
491118.18- 22904220.10. 479805.26- 2713930.44.
479805.26-
"
BGLl04C .E CITY OF DUBLIN STATEMElIT SHOWING e PAGE 1
10/12/94 REVENUES VERSUS EXPENDITURE 10.32.09
FOR THE
PERIOD 7/93 THROUGH 6/94
GENERAL REVEHUE FIDlD
CURRENT PERIOD PREVIOUS YEAR EIIDIlIG JUNE 30. 1993
BUDGET ACTUAL PERCENT VARIANCE ACTUAL ACTUAL PERCEnT VARIAnCE
FISCAL YR Y-T-D
********REVENUES*~*****
PROPERTY TAXES 3839040.00- 3853101.60- 100.4 14061. 60 3659581. 66- ,3659581.66- 100.0 .00
SALES TAX 5560000.00- 5969342.43- 107.4 409342.43 5484502.11- 5484502.11- 100.0 .00
REAL PROPERTY TRANSFERS 73000.00- 65258.80- 89.4 7741.20- 56171. 81- 56171. 81- 100.0 .00
TRANSIENT OCCUPANCY TAX 86000.00- 88318.00- 102.7 2318.00 90051.00- 90051.00- 100.0 .00
FIWICHISE TAXES 505900.00- 481162.79- 95.1 24737.21- 585399.45- 585399.45- 100.0 .00
LICENSES & PERMITS 375600.00- 340994.82- 90.8 34605.18- 281920.55- 281920.55- 100.0 .00
FINES & FORFEITURES 32000.00- 34316.48- 107.2 2316.48 24414.26- 24414.26- 100.0 .00
USES OF MONEY AND PROPERTY 881100.00- 935615,38- 106.2 I 54515.38 878968.50- 878968.50- 100.0 .00
INTERGOVERNMENTAL FROM STATE 964425.00- 945713.40- 98.1 18711.60- 919901. 92- 919901. 92- 100.0 .00
CHARGES FOR SERVICES 714533.00- 580737.55- 81.3 133795.45- 1020631.29- 1020631.29- 100.0 .00
OTHER SOURCES OF REVENUE 30649.09- 275567.69- 899.1 244918.60 103865.30- 103865.30- 100.0 .00
TOTAL REVENUE 13062247.09- 13570128.94- 103.9 507881.85 13105407.85- 13105407.85- 100.0 ,00
*******EXPENDITURES*******
GENERAL GOVERNMENT ACTIVITIES:
NOli-DEPARTMENTAL 3804.00 815.04 21.4 2988.96 121.31 121. 31 100.0 .00
CITY COUNCIL 1010 112438.00 102612.23 91.3 9825.77 108301. 35 108301.35 100.0 .00
CITY MANAGER 1020 258909.00 240219.95 92.8 18689.05 463249.36 463249.36 100.0 .00
CITY ATTORNEY 1030 306170.00 235554,62 76.9 70615.38 179355.04 179355.04 100.0 .00
ADMIN SERVICES 1040 414253.00 410536.74 99.1 3716.26 205738.27 205738.27 100.0 .00
BUILDING KANAGEMmlT 1050 334867.00 313411. 43 93.6 21455.57 318444.50 318444.50 100.0 .00
FACILITY RENTAL 1050-719 1532816.00 1458593.27 95.2 74222.73 1575537.72 1575537.72 100.0 .00
INSURANCE COST CENTER 1060 169656.00 149792.07 88.3 19863.93 167020.40 167020.40 100.0 .00
ELECTIONS COST CENTER 1070 12910.00 10817.83 83.8 2092.17 24338.89 24338.89 100.0 .00
ACTIVITY TOTAL 3145823.00 2922353.18 92.9 223469.82 3042106.84 3042106.84 100.0 .00
PUBLIC SAFETY:
POLICE 2010 3109012.00 2970615.78 95.5 138396.22 2920867.01 2920867.01 100.0 .00
CROSSING GUARDS COST 2020 .00 .00 .00 29621.76 29621. 76 100.0 .00
AlII MAL CONTROL 2030 103100.00 92215.39 89.4 10884.61 119394.97 119394.97 100.0 .00
TRAFFIC SIGNALS 2040 .00 .00 .00 69058.82 69058.82 100.0 .00
DISASTER PREAPREDNESS 2050 37067.00 25728.27 69.4 . 11338.73 31913.09 31913.09 100.0 .00
FIRE SERVICES JPA 2060 2733103.00 2632168.71 96.3 100934.29 2630946.71 2630946.71 100.0 .00
ACTIVITY TOTAL. 5982282.00 5720728.15 95.6 261553.85 5801802.36 5801802.36 100.0 .00
TRANSPORTATION:
PUBLIC WORKS 3010 284016.00 282508.50 99.5 1507.50 269943.44 269943.44 100.0 .00
STREET MAINTENANCE 3020 880.00 877.22 99.7 2.78 170860.07 170860.07 100.0 .00
STREET TREE MAINTENANCE 3040 48960.00 45767.70 93.5 3192.30 4317'6.03 43176.03 100.0 .00
STREET LANDSCAPE MAINT. 3050 160260.00 158297.22 98.8 1962.78 10977 4. 40 109774.40 100.0 .00
PARATRANSIT SERVICES 3060 .00 .00 .00 1500.00 1500.00 100.0 .00
ACTIVITY TOTAL 494116.00 487450.64 98.7 6665.36 595253.94 595253.94 100.0 .00
HEALTH & WELFARE:
VECTOR CONTROL 5010 .00 .00 .00 7123.00 7123.00 100.0 .00
WASTE MANAGEMENT 5020 100.00 75.84 75.8 24.16 147.72 147.72 100.0 .00
ACrrVITY TOTAL 100.00 75.84 75.8 24.16 7270.72 7270.72 100.0 .00
CULTURE & LEISURE SERVICES:
LIBRARY SERVICES 8010 165000.00 165000.00 100.0 .00 164870.00 164870.00 100.0 .00
CULTURAL ACTIVITIES 8011 8000.00 8000.00 100.0 .00 8000.00 8000.00 100.0 .00
"
~CITY OF DUBLIN STATEMENT SHOWING e PAGE 2
GLl04C
10/12/94 REVENUES VERSUS EXPENDITURE 10.32.09
FOR THE
PERIOD 7/93 THROUGH 6/94
GENERAL REVENUE FUND
CURREIIT PERIOD PREVIOUS YEAR EIIDHlG JUNE 30. 1993
BUDGET ACTUAL PERCENT VARIANCE ACTUAL ACTU~.L PERCENT VARIMICE
FISCAL YR Y-T-D
HERITAGE CENTER 8012 2781. 00 2234.23 80.3 546.77 .00 .00 .00
DUBLIN CEMETERY 8013 8069.00 8068.33 100.0 .67 .00 .00 .00
PARK MAINTENANCE 8020 591955.00 562328.40 95.0 29626.60 576091.68 576091. 68 100.0 .00
COMMUNITY CABLE TV 8030 20279.00 20279.00 100.0 .00 49000.00 49000.00 100.0 .00
RECREATION ADMIN. 8040 176453.00 175746.19 99.6 706.81 162687.95 162687.95 100.0 .00
PLAYGROUNDS 8045 80378.00 72270.89 89.9 8107.11 68682.22 68682.22 100.0 .00
SHAmlON CElITER 8050 125344.00 116563.54 93.0 8780.46 111826.43 111826.43 100.0 .00
PRESCHOOL 8055 37290.59 34319.22 92.0 2971. 37 33067.80 33067.80 100.0 .00
TEENS PROGRAM 8060 34350.00 27928.80 81.3 6421.20 27790.34 27790.34 100.0 .00
ADULT SPORTS 8065 105635.00 76349.88 72.3 29285.12 93676.99 93676.99 100.0 .00
YOUTH SPORTS 8066 32880.85 28570.77 86.9 4310.08 22291.86 22291.86 100.0 .00
SPECIAL EVENTS 8070 31070.00 28749.94 92.5 2320.06 28847.46 28847.46 100.0 .00
SENIOR CENTER 8080 137449.00 98858.25 71.9 38590.75 98553.66 98558.66 100.0 .00
RECREATION INSTRUCTION 8090 91764.00 78626.11 85.7 13137.89 86972.02 86972.02 100.0 .00
AQUATICS 8100 199966.00 205324.75 102.7 5358.75- 201422.44 201422.44 100.0 .00
ACTIVITY TOTAL 1848664.44 1709218.30 92.5 139446.14 1733785.85 1733785.85 100.0 .00
COMMUNITY DEVELOPMENT:
PLMm IlIG 9010 560879.00 511179.82 91.1 ,49699.18 839824.09 839824.09 100.0 .00
BUILDIllG SAFETY 9020 256241. 00 252992.23 98.7 3248.77 246067.57 246067.57 100.0 .00
ENGUlEERIlIG 9030 215791. 00 215790.71 100.0 .29 205915.31 205915.31 100.0 .00
ECONOMIC DEVELOPMENT 9040 9610.00 6328.57 65.9 3281. 43 5340.98 5340.98 100.0 .00
ACTIVITY TOTAL ~ 986291. 33 94.6 56229.67 1297147.95 1297147.95 100.0 .00
-.....
CAPITAL IMPROVEMENT PROJECTS:'
COf.lMUlIITY IHPROVEf.lENTS 94NN 50000.00 48603.17 97.2 1396.83 61189.51 61189.51 100.0 .00
PARKS 95NN 20000.00 12423.92 62.1 7576.08 14005.38 14005.38 100.0 .00
STREET CONSTRC/IMPROVHT 96NN 281697.00 281695.66 100.0 1.34 129044.57 129044.57 100.0 .00
ACTIVITY TOTAL 351697.00 342722.75 97.4 8974.25 204239.46 204239.46 100.0 .00
TOT A L EXPENDITURES 12865203.44 12168840.19 94.6 696363.25 12681607.12 12681607.12 100.0 .00
EXCESS <REVENUE>EXPENDITURES 197043.65- 1401288.75- 711.2 1204245.10 423800.73- 423800.73- 100.0 .00
TRANSFERS IN FROM OTHER FUNDS .00 77093.25- 77093.25 481272.02- 481272.02- 100.0 .00
TRAlISFERS OUT TO OTHER FUNDS .00 41883.81 41883.81- 39985.33 39985.33 100.0 .00
EXCESS <REVENUE> EXPENDITURE 197043.65- 1436498.19- 729.0 1239454.54 865087.42- 865087.42- 100.0 .00
"
~CITY OF DUBLIN STATEMKHT SHOWING e PAGE 1
BGL104C
10/12/94 REVENUES VERSUS EXPENDITURE 10.35.31
FOR THE
PERIOD 7/93 THROUGH 6/94
SPECIAL REVENUE FIINDS
CURRElIT PERIOD PREVIOUS YEAR EIlDHlG JUNE 30, 1993
BUDGET ACTUAL PERCEllT VARIAlICE ACTUAL ACTUAL PERCENT VARIAlICE
FISCAL YR Y-T-D
********REVENUES*******
SALES TAX 114000.00- 117622.52- 103.2 3622.52 110838.07- 110838.07- 100.0 .00
FIllES & FORFEITURES 26500.00- 33963.62- 128.2 7463.62 26366.25- 26366.25- 100.0 .00
USES OF MONEY AND PROPERTY 16430.00- 35095.85- 213.6 18665.85 26829.68- 26829.68- 100.0 .00
INTERNGOVERNMEN~AL FROM STATE 781878.00- 609800.83- 78.0 172077.17- 1735267.71- 1735267.71- 100.0 .00
INTERGOVERNMENTAL FROM COUllTY 38265.50- 125984.50- 329.2 87719.00 634.50- 634.50- 100.0 .00
INTERGOVERNMENTAL FROM FEDERAL 2154582.00- 116540.21- 5.4 2038041. 79- 144631. 51- 144631. 51- 100.0 .00
CHARGES FOR SERVICES 716557.00- 742458.70- 103.6 25901. 70 150932.61- 150932.61- 100.0 .00
OTHER SOURCES OF REVENUE 5000.00- 11993.19- 239.9 6993.19 6027.43- 6027.43- 100.0 .00
TOTAL REVENUE 3853212.50- 1793459.42- 46.5 2059753.08- 2201527.76- 2201527.76- 100.0 .00
*******EXPENDITURES*******
GENERAL GOVERNMENT ACTIVITIES:
CITY COUNCIL 2450.00 .00 2450.00 2600.00 2600.00 100.0 .00
CITY MANAGER .00 .00 .00 21204.93 21204.93 100.0 .00
CITY ATTORNEY .00 .00 .00 112. 50 112.50 100.0 .00
ACTIVITY TOTAL 2450.00 .00 2450.00 23917 . 43 23917.43 100.0 .00
PUBLIC SAFETY:
POLICE 18170.00 12067.48 66.4 6102.52 8296.76 8296.76 100.0 .00
TRAFFIC SIGNALS 93500.00 82277.35 88.0 11222.65 25084.00 25084.00 100.0 .00
ACTIVITY TOTAL 111670.00 94344.83 84.5 17325.17 33380.76 33380.76 100.0 .00
TRANSPORTATIOll:
STREET MAINTENANCE 177802.00 158820.98 89.3 18981.02 142153.44 14 2153. 44 100.0 .00
STREET SWEEPING 69986.00 69985.83 100.0 .17 64299.96 64299.96 100.0 .00
STREET LANDSCAPE MAINTENANCE .00 .00 .00 78106.00 78106.00 100.0 .00
ACTIVITY TOTAL 247788.00 228806.81 92.3 18981.19 284559.40 284559.40 100.0 .00
I
HEALTH & WELFARE:
WASTE MANAGEMENT 572236.00 542622.00 94.8 29614 .00 69458.04 69458.04 100.0 .00
CULTURE & LEISURE SERVICES:
COMMUNITY DEVELOPMENT:
ENGINEERING 117650.00 117649.45 100.0 .55 106098.05 106098.05 100.0 .00
ACTIVITY TOTAL 117650.00 117649.45 100.0 .55 106098.05 106098.05 100.0 .00
CAPITAL IMPROVEMENT PROJECTS:
GENERAL CIP PROJECTS .00 .00 .00 252.21 252.21 100.0 .00
COHHUlUTY IMPROVEMENTS 181636.50 58968.45 32.5 122668.05 22978.00 22978.00 100.0 .00
PARKS 135664.00 133793.53 98.6 1870.47 32599.14 32599.14 100.0 .00
STREET CONSTRUCTION jIMPROVMT 2499209.00 364376.28 14.6 2134832.72 1276716.86 1276716.86 100.0 .00
ACrrVITY TOTAL 2816509.50 557138.26 19.8 2259371. 24 1332546'-21 1332546.21 100.0 .00
TOT A L EXPENDITURES 3868303.50 1540561.35 39.8 2327742.15 1849959.89 1849959.89 100.0 .00
EXCESS <REVENUE>EXPENDITURE- 15091.00 252898.07- 1675.8- 267989.07 351567.87- 351567.87~ 100.0 .00
TRANSFERS IN FROK OTHER FUNDS .00 32728.18w 32728.18 13666.01- 13666.01- 100.0 .00
TRAtISFERS OUT TO OTHER fUNDS .00 9451.83 9451. 83- 65768.99 65768.99 100.0 .00
EXCESS <REVENUE> EXPENDITURE 15091.00 276174.42- 1830.1- 291265.42 299464.89- 299464.89- 100.0 .00
I I
BGLl04C t CITY OF DUBLIN STATEHOO SHOWING e PAGE 1
10/12/94 REVElfUES VERSOS EXPENDITURE 10.40.39
FOR THE
PERIOD 7/93 THROUGH 6/94
SPECIAL ASSESSHEllT FUNDS
CURRENT PERIOD PREVIOUS YEAR ElIDIlIG JUNE 30 I 1993
BUDGET ACTUAL PERCENT VARIAlICE ACTUAL ACTp~.L PERCEl/T VARIANCE
FISCAL YR Y-T-D
********REVEHUES*******
SPECIAL BENEFITS ASSESSMENTS 523913.00- 533098.91- 101. 8 9185.91 429912.28- 429912.28- 100.0 .00
USES OF MONEY AND PROPERTY 28260.00- 22974.46- 81.3 5285.54- 49204.17- 49204.17- 100.0 .00
OTHER SOURCES OF REVENUE 10400.00- 14269.21- 137.2 3869.21 2722.57- 2722.57- 100.0 .00
TOTAL REVENUE 562573.00- 570342.58- 101.4 7769.58 481839.02- 481839.02- 100.0 .00
*******EXPENDITURES*******
GENERAL GOVERNMENT ACTIVITIES:
NON-DEPARTMENTAL 650731.00 210730.75 32.4 440000.25 169119.54 169119.54 100.0 .00
ACTIVITY TOTAL 650731.00 210730.75 32.4 440000.25 169119.54 169119.54 100.0 .00
PUBLIC SAFETY:
TRFC SIGS/STREET LIGHTING 202300.00 190210.84 94.0 12089.16 179805.95 179805.95 100.0 .00
ACTIVITY TOTAL 202300.00 190210.84 94.0 12089.16 179805.95 179805.95 100.0 .00
TRANSPORTATION:
PUBLIC WORKS 2738.00 2736.26 99.9 1.74 616.39 616.39 100.0 .00
STREET TREE MAINTENANCE 10773.00 6807.10 63.2 3965.90 6984.53 6984.53 100.0 .00
STREET LANDSCAPE MAINTENANCE 110085.00 105133.50 95.5 4951.50 111427.08 111427.08 100.0 .00
ACTIVITY TOTAL 123596.00 114676.86 92.8 8919.14 119028.00 119028.00 100.0 .00
HEALTH & WELFARE:
CULTURE & LEISURE SERVICES:
COMMUNITY DEVELOPMENT:
ENGINEERING 7090.00 3828.40 54.0 3261.60 6347.50 6347.50 100.0 .00
ACTIVITY TOTAL 7090.00 3828.40 54.0 3261.60 6347.50 6347.50 100.0 .00
CAPITAL IMPROVEMENT PROJECTS:
COMMUNITY IMPROVEMENTS 4500.00 4500.00 100.0 .00 2470.99 2470.99 100.0 .00
STREET CONSTROCTION/IMPROVMT .00 .00 .00 15.00 15.00 100.0 .00
ACTIVITY TOTAL 4500.00 4500.00 100.0 .00 2485.99 2485.99 100.0 .00
TOT A L EXPENDITURES 988217.00 523946.85 53.0 464270.15 476786.98 476786.98 100.0 .00
EXCESS<REVENUE>EXPENDITURE 425644'.00 46395.73- 10.9- 472039.73 5052.04- 5052.04- 100.0 .00
TRANSFERS IN FROM OTHER FUNDS .00 123895.44- 123895.44 .00 .00 .00
TRANSFERS OOT TO OTHER FUNDS .00 110995.44 110995.44- 400667.31 400667.31 100.0 .00
EXCESS <REVENUE> EXPENDITURE 425644.00 59295.73- 13.9~ 484939.73 395615.27 395615.27 100.0 .00
I,
BGLl04C . CITY OF DUBLIN STA'fEMEHT SHOWING e PAGE 1
10/12/94 REVENUES VERSUS EXP&lDITURE 10.55.37
FOR THE
PERIOD 7/93 THROUGH 6/94
CAPITAL IMPROVEMENT FUND
CURRENT PERIOD PREVIOUS YEAR ElTDING JUNE 30, 1993
BUDGET ACTUAL PERCEH'I.' VARIA!ICE ACTUAL ACTUAL PERCENT VARIANCE
FISCAL YR Y-T-D
********REVENUES*******
USES OF MONEY AND PROPERTY 4340.00- 2058. 46- 47.4 2281. 54- 36957.49- 36957.49- 100.0 .00
OTHER SOURCES OF REVENUE 925445.00- 73214 . 23- 7.9 852230.77- 55365.58- 55365.58- 100.0 .00
TOTAL REVENUE 929785.00- 75272.69- 8.1 854512.31- 92323.07- 92323.07- 100.0 .00
*******EXPENDITURES*******
GENERAL GOVERNMENT ACTIVITIES:
NON-DEPARTMENTAL .00 .00 .00 1181258.00- 1181258.00- 100.0 .00
ACTIVITY TOTAL .00 .00 .00 1181258.00- 1181258 . 00- 100.0 .00
PUBLIC SAFETY:
TRANSPORTATION:
HEALTH & WELFARE:
CULTURE & LEISURE SERVICES:
COMMUNITY DEVELOPMENT:
CAPITAL IMPROVEMENT PROJECTS:
COMMUNITY IMPROVEMENTS .00 .00 .00 11000.00 11000.00 100.0 .00
STREET CONSTRUCTION/IHPROVMT 727736.00 214021. 33 29.4 513714.67 2320873.36 2320873.36 100.0 .00
ACTIVITY TOTAL 727736.00 214021. 33 29.4 513714.67 2331873.36 2331873.36 100.0 .00
TOT A L EXPENDITURES 727736.00 214021.33 29.4 513714.67 1150615.36 1150615.36 100.0 .00
EXCESS<REVENUE>EXPEITDITURE 202049.00:- 138748.64 68.7- 340797.64- 1058292.29 1058292.29 100.0 .00
TRANSFERS IN FROM OTHER FUNDS .00 .00 .00 10437.00- 10437.00- 100.0 .00
TRAlISFERS OUT TO OTHER FUNDS .00 83393.92 83393.92- .00 .00 .00
EXCESS <REVENUE> EXPENDITURE 202049.00- 222142.56 109.9- 424191.56- 1047855.29 1047855.29 100.0 .00
BGL104C tit CITY OF DUBLIII STATEMENT SHOWIHG e PAGE 1
10/12/94 REVEIlUES VERSUS EXPEllDITURE 10.45.38
FOR THE
PERIOD 7/93 TIIROIlGH 6/94
IllTERIlAL SERVICE FUND
CURRENT PERIOD PREVIOUS YEAR EIlDING JUNE 30, 1993
BUDGET ACTUAL PERCEUT VARIAlICE ACTUAL ACTUP.L PERCEUT VARIANCE
FISCAL YR Y-T-D
********REV~IUES*******
USES OF MONEY AND PROPERTY 9360.00- 15381. 72- 164.3 6021. 72 13286.21- 13286.21- 100.0 .00
CHARGES FOR SERVICES 137229.00- 128214.28- 93.4 9014.72- 131109.60- 131109.60- 100.0 .00
OTHER SOURCES OF REVENUE 6711. 00- 7615.50- 113.5 904.50 13443.00- 13443.00- 100.0 .00
TOTAL REVEnUE 153300.00- 151211.50- 98.6 2088.50- 157838.81- 157838.81- 100.0 .00
*******EXPENDITURES*******
GENERAL GOVERllMENT ACTIVITIES:
NON-DEPARTMENTAL 201514.00 127280.78 63.2 74233.22 138639.50 138639.50 100.0 .00
ACTIVITY TOTAL 201514.00 127280.78 63.2 74233.22 138639.50 138639.50 100.0 .00
PUBLIC SAFETY:
TRANSPORTATION:
HEALTH & WELFARE:
CULTURE & LEISURE SERVICES:
COMMUNITY DEVELOPMENT:
CAPITAL IMPROVEMENT PROJECTS:
TOT A L EXPENDITURES 201514.00 127280.78 63.2 74233.22 138639.50 138639.50 100.0 .00
EXCESS<REVENUE> EXPIDfDITURE 48214.00 23930.72- 49.6- 72144.72 19199.31- 19199.31- 100.0 .00
TRANSFERS OUT TO OTHER FUNDS .00 .00 .00 26000.00 26000.00 100.0 .00
EXCESS <REVDWE> EXPIDIDITURE 48214.00 23930.72- 49.6- 72144.72 6800.69 6800.69 100.0 .00
BGL104C aE CITY OF DUBLIN STATEMENT SHOWING . PAGE 1
10/12/94 REVENUES VERSUS EXPENDITURE 10.51.46
FOR THE
PERIOD 7/93 THROUGH 6/94
EllTERPRISE FUNDS
CURRElIT PERIOD PREVIOUS YEAR EliDING JUlIE 30. 1993
BUDGET ACTUAL PERCElfT VARIANCE ACTUAL ACTUAL PERCElIT VARIAIICE
FISCAL YR Y-T-D
********REVENUES*******
USES OF MONEY MID PROPERTY 1611177 . 00- 1564715.31- 97.1 46461. 69- 1831356.25- 1831356.25- 100.0 .00
TOTAL REVENUE 1611177.00- 1564715.31- 97.1 46461.69- 1831356.25- 1831356.25- 100.0 .00
*******EXPENDITURES*******
GENERAL GOVEIDIMEHT ACTIVITIES:
NON-DEPARTMENTAL 1532876.00 1436774.32 93.7 96101.68 3712918.17 3712918.17 100.0 .00
CITY MANAGER .00 .00 .00 3547.83 3547.83 100.0 .00
ADMIN SERVICES 8250.00 1635.85 19.8 6614.15 9838.38 9838.38 100.0 .00
ACTIVITY TOTAL 1541126.00 1438410.17 93.3 102715.83 3726304.38 3726304.38 100.0 .00
PUBLIC SAFETY:
DISASTER PREAPREDHESS 1140.00 .00 1140.00 1045.94 1045.94 100.0 .00
ACTIVITY TOTAL 1140.00 .00 1140.00 1045.94 1045.94 100.0 .00
TRANSPORTATION:
HEALTH & WELFARE:
CULTURE & LEISURE SERVICES:
RECREATION ADMINISTRATION 11800. 00 10864.05 92.1 935.95 11389.58 11389.58 100.0 .00
SEIHOR CENTER 450.00 338.14 75.1 111.86 396.11 396.11 100.0 .00
ACTIVITY TOTAL 12250.00 11202.19 91.:4 1047.81 11785.69 11785.69 100.0 .00
COMMUNITY DEVELOPMENT:
CAPITAL IMPROVEMENT PROJECTS:
TOT A L EXPENDITURES 1554516.00 1449612.36 93.3 104903.64 3739181. 01 3739181.01 100.0 .00
EXCESS<REVENUE> EXPENDITURES 56661.00- 115102.95- 203.1 58441.95 1907824.76 1907824.76 100.0 .00
TRANSFERS IN FROM OTHER FUlIDS .00 12008.13- , 12008.13 26319.32- 26319.32- 100.0 .00
EXCESS <REVENUE> EXPENDITURE 56661.00- 127111.08- 224.3 70450.08 1881505.44 1881505.44 100.0 .00
tl
e
e
CITY OF DUBLIN
RECOMMENDATIONS FOR IMPROVEMENTS
IN INTERNAL CONTROLS
FOR THE YEAR ENDED JUNE 30, 1994
EXHIB~l' 3 -
AAAZE &.
· ./~ ASSOCIA rES
e
ACCOUNTANCY CORPORA TION
1670 Riviera Avenue ~Su/fe 100
Walnut Creek, California 94596
(510) 930-0902 . FAX 930-0135
Honorable Mayor and Members of the
. City Council of the City of Dublin. California
We have audited the general purpose financial statements of the City of Dublin for the year ended June 30,
1994. and have issued our report thereon dated October 7. 1994. As part of our audit. we made a study
and evaluation of the system of internal accounting control to the extent we considered necessary to
evaluate the system as required by generally accepted auditing standards. The purpose of our study and
evaluation was todetennine the nature, timing. and extent of the auditing procedures necessary for
expressing an opinion on the financial statements. Our study and evaluation was more limited than would
be necessary to express an opinion on the system of internal accounting control taken as a whole.
Management is responsible for establishing and maintaining a system of internal accounting control. In
fulfilling this responsibility. estimates and judgments by ,management are required to assess the expected
benefits and related costs of control procedures. The objectives of a system are to provide management
with reasonable but not absolute assurance that assets are safeguarded against loss from unauthorized use
or disposition. and that transactions are executed in accordance with management's authorization and
recorded properly to pennit the preparation of financial statements in accordance with generally accepted
accounting principles.
Because of inherent limitations in any system of internal accounting control. errors or irregularities may
nevertheless occur and not be detected. Also. projections of any evaluation of the system to future periods
is subject to the risk that procedures may become inadequate because of changes in conditions or that the
degree of compliance with the procedures may deteriorate.
Our study and evaluation made for the limited purpose described in the first paragraph would not
necessarily disclose all material weaknesses in the system. Accordingly. we do not express an opinion on
the system of internal accounting control of the City taken as a whole. Our study and evaluation disclosed
no condition that we believe to be a material weakness. However. our study and evaluation disclosed the
following areas in which internal controls could be strengthened.
A Professional Corporation
e
e
CITY OF DUBLIN
RECOMMENDATIONS FOR IMPROVEMENTS IN INTERNAL CONTROLS
Recommendation 1: The City should implement protective features to reduce the risk of forged
checks being charged to the City's accounts.
On March 4. 1994 we sent a letter to the City outlining some low cost ways to significantly reduce the risk
offorgery loss. The City should implement as many features in our letter as possible.
Recommendation 2: The City should document its capitalization policy for fixed assets.
During our review of internal controls over fixed assets we noted the City has not documented a policy for
capitalization of fixed assets. The policy should document the dollar limit at which fixed assets should be
capitalized and the types of fixed assets to be capitalized.
Recommendation 3: The accounts payable checks should be logged before each check run and the log
should be approved.
During our audit of accounts payable, we noted accounts payable checks are not monitored sequentially. In
order to strengthen internal controls the City should prepare a check log which includes the first and last
check number of the check run. The begilUling warrant number on the current check run should be
compared to the ending check number of the previous check run. This check log should be reviewed by and
approved by a check signer other than the accounts payable finance technician .
************
I
We would be pleased to discuss our reconul1endations further with you at your convenience. We also wish
to express our appreciation for the courtesy and cooperation extended to us by Paul Rankin and his staff
during our audit.
b)J)~~~
October 7, 1994
e
e
CITY OF DUBLIN
Po. Box 2340, Dublin, California 94568
.
City Offices, 100 Civic Plaza, Dublin, California 94568
January 4, 1995
TO: Mayor and Members of the City Council
FROM: ~aul S. Rankin, Assistant City Manager I Administrative Services Director
RE:
Staff Response To Maze & Associates Recommendation For Improvements
(Dated October 7, 1994 For The Year Ended June 30, 1994)
In conjunction with the annual Financial Audit Maze & Associates has issued a report on
Recommendations For Improvements In Internal Control. The purpose of this memorandum is to
address the identified issues.
Recommendation 1: Implement procedures to reduce the risk of forged checks.
Staff Response:
Staff has already implemented several control features as check supplies are
reordered. Staffwill continue to monitor available services and supplies
and make modifications as warranted.
Recommendation 2: Document policy for capitalization of fixed asset s.
Staff Response:
As identified in the City Council Goals and Objectives, Staff will be
preparing updated Finance Department procedures. This has not been
done for several years and with the reorganization of Finance as a Division
of Administrative Services, there is a need to update the procedures. In
conjunction with the procedure update, Staffwill develop and recommend
for adoption by the City Council a fixed asset policy.
Recommendation 3: Maintain an Accounts Payable Check log.
Staff Response:
This issue was brought to the attention of City Staff at the time that the
Auditors conducted preliminary field testing in the Spring of 1994. Staff
implemented a system of a log at that time and no further action is
required.
Administration (510) 833-6650. City Council (510) 833-6605. Finance (510) 833-6640. Building Inspect'F2~H)Im1l24
Code Enforcement (510) 833-6620 · Engineering (510) 833-6630 · Planning (510) 833-6610
POlice (510) 833-6670 . Public Works (510) 833-6630 . Recreation (510) 833-6645