HomeMy WebLinkAboutItem 8.1 DSRSD Exh 15I~
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JAN ~ 6 20(1
CITY ~1NAGE1~'S p~FICE
City of Dublin
1 Community Group/Organizational Funding Request
Due: January 31, 2009
Dublin San Ramon Services District
7051 Dublin Blvd
Dublin, Ca 94568
(925) 828-0515
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EXHIBIT
1~ CITY OF DUBLIN
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' I COMMUNITY GROUP/ORGANIZATIONAL
FUNDING REQUEST
' APPLICATION PACKET
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Fiscal Year 2009-2010
AGENCY NAME: DUBLIN SAN RAMON SERVICES DISTRICT (DSRSD)
PROPOSED PROJECT/PROGRAM NAME: Low nvcoME ,
RESIDENT WATER SERVICE SUBSIDY
FUNDING AMOUNT REQUESTED: $25,000
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CITY OF DUBLIN
Fiscal Year 2009-2010
APPLICATION FOR FUNDS
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1. Please select one expense category: ^ Capital / Operating
2. Applicant Information:
Organization/Agency Name Dublin San Ramon Services District (DSRSD)
Mailing Address Dublin San Ramon Services District
Street Address ~ 7051 Dublin Blvd
City Dublin ~ State CA Zip 94568
Bert Michalczyk (9251828-0515 michalczykndsrsd.com
Executive Director/Chairperson Work Phone Email
Daniel Scannell (510) 620-5689 danscannell(a~msn.com
Board President (if applicable) Work Phone Email
Please list the Primary Project Contact Person who would be able to answer questions about this application and
project/program during the funding period.
Justin Lo Financial Analyst
Contact Person for ProjectlProgram Job Title
(925) 875-2241 lo(a~dsrsd.com (9251 829-1 1 80
Work Phone Email Fax
Federal Tax Identification No. (required) 946050194
City of Dublin Business License No. (required) N/A
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Cit of Dublin ,
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Fiscal Year 2009-2010 '
Application for Funds
3. Proposed Project/Program Information (Do not describe organization.)
Amount of Funds Requested $ 25,000
(Maximum $25,000 per project.)
Proposed Project/Program Name Low Income Resident Water Service Subsidv
Proposed Project/Program Date(s): Start 07/ O1 / 09 and End 06 / 30 /10
mo. day yr. mo. day yr.
Please note: City Council Grant Funds are distributed on a reimbursement basis. If your Agency
needs a 100% disbursement at the beginning of the Fiscal Year, please indicate this
below and please provide justification for this need.
/ Agency is requesting 100% disbursement at the beginning of the Fiscal Year.
If selecting this option, please provide justification in the blank space below.
^ Agency is not requesting 100% disbursement at the beginning of the Fiscal Year.
Please provide the frequency that reimbursements will be submitted to the City in the
blank space below; e.g., monthly, quarterly, at project completion, etc.
The District will create a separate account for managing and tracking the use of this grant
money, and plans on absorbing 100% of administrative costs so that more money can be used to
benefit the community. DSRSD would like to receive the entire amount at the beginning of the
Fiscal Year to minimize the administrative impact of this program. Any portion that is unused
by the end of the 2010 fiscal year will be refunded back to the City of Dublin.
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Fiscal Year 2009-2010
Application for Funds
a. How would the requested funds be used?
^ Describe, in detail, the PROPOSED PROJECT/PROGRAM (not the Agency).
^ Bulleted text is acceptable.
^ Identify if the proposed project/program is a new service, or extension of an
existing one.
^ An additional page may be added, if needed.
Dublin San Ramon Services District (DSRSD) would like to implement a new low-income
assistance program that will benefit the residents of the Ciry of Dublin. Because this funding
will come from the City of Dublin, the program will only be open to residents of Dublin, not
everyone in DSRSD's service area.
The funds provided by City of Dublin will be used to subsidize the fixed portion of a
household's water bill ($16 every two months) for eligible low-income Dublin customers who
meet the income requirements based on PG&E's CARE program (low-income assistance
program). This will be a new service that is provided to residents of Dublin.
PG&E's income requirements are below in Figure 1. Eligible Dublin customers must provide
the District with the first page of their latest annual tax fillings for verification of income and
dependants.
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Figure 1: Income eligibility based on PG&E's CARE program
Number of Persons in Household Total Combined Annual Income (beforetax)
1-2 $30,500
3 $35,800
4 $43,200
5 $50,600
6 $58,000
For each additional person, add: $7,400
The District will absorb the cost of administering this program, and all funding from the Ciry of
Dublin will be used to help Dublin residents that are in need. The program will continue for the
fiscal year (7/1/2009 to 6/30/2010), or until the grant money is depleted.
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b. How would the PROPOSED PROJECT/PROGRAM address an unmet community
need and improve the quality of life for Dublin residents. Why is this project/program '
needed? (Additional page may be added, if needed):
The need for low-income assistance programs is well established. Although the general
population in the City of Dublin is relatively affluent, there is still a significant population living
below poverty levels (see part c below for detailed figures); this program is aimed to help these
residents by reducing their cost of water, which is a fundamental need for maintaining basic
living standards.
DSRSD has wanted to implement aloes-income program for its customers for some time;
however, the District cannot fund this program alone in compliance with State law, which
prohibits one group of customers to subsidize another group. The grant provided by the City of
Dublin is a method to fund this program and is consistent with what neighboring cities do in
providing assistance through the use of General fund revenues.
c. What documentation/data/records support the need for this PROPOSED
PROJECT/PROGRAM? Please identify your data sources. (Additional page may be
added, if needed.)
U.S. Census data indicates roughly 3% of Dublin's population lives below national poverty
levels ($14,000 for a family of two); with estimated population of 47,000 people, that translates
to over 1,400 people living below the national poverty level in Dublin. It is important to note
that the national poverty line is much lower than the poverty line for living in the Bay Area, as
the cost of living is much higher here than most parts of the country. DSRSD believes that a
much closer measure is that used by PG&E's CARE program.
Recent U.S. economic conditions have further increased the need for such a program. With
many stores closing in Dublin (such as retailers Mervyn's and Circuit City, etc.), Dublin's
residents are also impacted with rising unemployment and decreased household income. Recent
economic indicators published by East Bay EDA (eastbayeda.org) show that Alameda County's
unemployment rate as of November 2008 has risen to 7.1%, much higher than the year-ago
estimate of 4.9%.
DSRSD staff has also contacted PG&E's CARE division and was informed that as of October
31, 2008 roughly 1,275 of the total 16,500 Dublin customers (7.72%) were enrolled in their
CARE program. This number has grown 9.44% from a year ago (1,165 to 1,275).
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Fiscal Year 2009-2010
Application for Funds
d. Specify the PROPOSED PROJECT/PROGRAM population to be served.
This program is aimed to assist low income residents within the Dublin community. Using
PG&E's data as a benchmark, DSRSD estimates this segment to be roughly 3,630 (7.72%) of
Dublin's total population. Due to the current economy, DSRSD expects this number to grow
slightly in the coming year.
e. Projects/programs must be evaluated to determine if they are being carried out efficiently
and if project/program goals are being met. Please describe how you plan to monitor
your project/program's success and impact.
^ An additional page may be added, if needed.
DSRSD will monitor the number of customers who take advantage of this program. The District
has identified two components that should be used to evaluate the program's success:
1. Quality Assurance
It is important that funds are distributed to those residents that truly need help.. Most low-
income assistance programs the District has researched simply require a PG&E bill as
verification for eligibility; however, because PG&E,does not have the resources to
actually verify eligibility, DSRSD has created an additional layer of quality assurance by
requiring customers bring in the first page of their most recent tax filings as verification.
Furthermore, customers will need to reapply for assistance on an annual basis, contingent
that the grant is approved by the City of Dublin. This will further ensure that customers
who no longer qualify do not stay in the program, and that the funding can be used to
help other residents.
2. Community Awareness
It is important that Dublin residents in need of assistance are aware that this program is
out there, and DSRSD will make efforts of publicizing this program. The program's
success will be measured by the actual number of participants, and by the amount of
funds used by the end of the year.
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f. Specify numbers of clients served by agency, then by PROPOSED
PROJECT/PROGRAM:
A enc Partici ants
Total Number of Partici ants Served b A enc if a licable 140,000
Total Number of Dublin Residents Served b A enc (if a licable) 47,000
Pro'ect/Pro ram Partici ants
Total Pro osed Partici ants Served b this Pro'ect/Pro ram 3,630*
Total Number of Dublin Residents Served b this Pro'ect 3,630*
*Figure is estimated population of eligible residents. However, actual number of households for the first year
is estimated at 300 households.
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FY 2009-2010
EXPF.NSF, BUDGET
ORGANIZATION TAIS PROTECT/
PROGRAM
GRANT REQUEST
Personnel Costs
Employee Salaries & Benefits 15,665,579 5,000 0
Non-Personnel Costs
Services & Supplies 13,429,264 500 0
Capital Costs 13 287 500
Other (please specify)
Other (please specify)
TOTAL 42,382,343 5,500 0
b. Revenue Budget
FY 2009-2010
REVENUE BUDGET
ORGANIZATION
PROJECT/PROGRAM
Committed/Restricted Funds
(specify source)
Regional Sewer 23,746,103
Local Sewer 2,726,168
Water 17,522,546 25,000
Low Income Assistance, Dublin
Non-Committed/Restricted Funds
(s ecify source)
TOTAL 43,994,817 25,000
Further Comments/Explanations (if necessary):
These figures are from DSRSD 2009 budget year, since the 2009-2010 budget will not be
adopted until June 2009. -
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' ~ a. List all years that Organization has previously received City of Dublin funding (not
Community Development Block Grant - CDBG).
' N/A
b. Describe the population(s) served by the Organization.
Dublin San Ramon Services District was founded in 1953 and provides water and recycled water
to the District of Dublin and Dougherty Valley; wastewater collection and treatment services to
' the District of Dublin and southern San Ramon; and by contract sewage treatment for the District
of Pleasanton. Sewerage services consist of wastewater collection, treatment and disposal to San
Francisco Bay. T'he District owns, operates and maintains the Regional Wastewater Treatment
' Facility in Pleasanton, California and a wastewater collection system.
The District serves of population of approximately 140,000 customers, including:
' domestic/residential, commercial, industrial, and institutional customers.
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City of Dublin
Fiscal Year 2009-2010
Application for Funds
7. Required Attachments:
o Only one (1) cony aer Agencv of each of the following is required, even with multiple
projects/programs submitted.
o Applications without the following documents will not be reviewed for funding.
o Please label attachments: A, B, C, etc.
' / A. Names of Governing Board; identify current Board officers.
/ B. Current total Orcamzation operating budget, including revenue.
^ Cleaxly label/identify the program that includes the PROPOSED
1 PROJECT/PROGRAM.
/ C. Most recent audit report or tax return (if applicable).
' / D. Resolution, letter or other document providing evidence of
Board/Organization approval of application, and date approval was granted.
' ^ Board/Organization approval maybe pending.
/ E. Or anization's certificate of insurance showin covera e for liabili and
g g g tY
workers' compensation.
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F. Application Verification Declaration Signature Page.
' (N/A) G. Signed affidavit form from each collaborating agency named in proposed
project/program plan (if applicable).
' / H. Copy of IRS Letter of Determination indicating tax exempt status.
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Attachment A -Brief Biographies of Board of Directors
President Daniel J. Scannell was first elected to the DSRSD Board of
Directors in 2000 and previously served as President in 2004. An expert in
legislative and regulatory issues, Scannell is a Senior Policy Analyst (contract
employee) with the California Department of Public Health. He received a
bachelor of arts in political science from the University of California at Berkeley.
Vice President Thomas W. Ford was elected to the DSRSD Board in
2002 and re-elected in 2006. He served as Board President in 2005. Retired, Mr.
Ford's career spanned manufacturing, aerospace, finance, and insurance where
he designed supply chain and manufacturing processes. He holds a business
degree from Duquesne University.
Director Richard M. Halket has served on the DSRSD Board since
December 2004 and was Board President in 2008. Currently Halket is a Staff
Accountant at Varenchik Accountancy Corp. of Danville, CA. Previously he spent
10 years in the enterprise software industry and 10 years in hydrogeology
consulting. Halket received a bachelor of science in geology from Stanford
University and a master of science in hydrogeology from Washington State
University.
Director Dwight L. (Pat) Howard has served on the DSRSD Board since
December 2004 and was Board President in 2007. He is a licensed Professional
Engineer with more than 30 years engineering experience. Howard has bachelor
and master of science degrees in mechanical engineering from the University of
California at Berkeley and a master of science in engineering management from
Santa Clara University.
Director Jeffrey G. Hansen has been a member of the DSRSD Board of
Directors since 1985 and has served four times as its President, most recently in
2006. Hansen is a business and real estate law attorney who has practiced in the
East Bay for more than 25 years. He received a bachelor of arts in political
science from the University of California at Berkeley and his juris doctor degree
from Golden Gate University.
Notes on Attachment B:
DSRSD adopts a budget every two years, and included is the most recent budget for FY
2009.
If funding is approved for this program from the City of Dublin, the grant amount will be
moved into the water fund (fund 600).
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Dublin San Ramon Services District
Estimated Change in Net Assets for FY 2009
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Regional Regional Regional Water
2009 Approved Budget (including local Sewer Local Sewer local Sewer Sewer Sewer Sewer Variable Rate Water Wafer Water WateReuse Admin. C~~st Special Refunding DV Standby
Posted Ad)ustments) Operations Replacement Expansion Operations Replacement Expansion Sewer Bonds Operations Replacement Expansion Bonds Center Revenue OPEB Bonds District Total
INDEX!A1 200 210 220 300 310 320 480 600 610 620 680 900 960 965 980 995 Total
Estimated Working Capital July 1, 2008 $ 1,041,732 $ 6,305,246 $ 2,321,644 $ 9,636,688 $ 17,922,054 $ 37,361,783 $ 3,811,252 $ 4,892,844 $ 6,797,076 $14,048,399 $1,347,189 $ 25,060 $ 869,250 $ 4,383,671 $ 359,524 $1,036,004 $112,159,416
Pa ment of Internal Receivable
Ad usted Working Capital 1,041,732 6,305,246 2,321,644 9,636,688 17,922,054 37,361,783 3,811,252 4,892,844 6,797,076 14,048,399 1,347,189 25,060 869,250 4,383,671 359,524 1,036,004 112,159,416
Revenues:
Service Charges 1,741,950 15,168,736 14,238,078 31,148,764
Connection Fees 71,661 65,358 584,400 3,834,455 177,979 583,917 5,317,770
Other Revenues 10,400 294,596 102,328 679,287 2,093,389 558,400 1,408,235 530,000 5,676,635
Interest 35,318 249,309 102,576 297,308 333,934 1,570,270 58,373 202,847 264,371 495,739 51,867 48,787 71,760 9,964 49,747 3,847,170
Estimated Revenue 1,787,668 320,970 462,530 15,466,044 918,334 5,404,725 58,373 14,543,253 447,350 1,758,943 51,867 2,093,389 607,187 1,479,995 9,964 579,747 45,990,339
Transfers In,
Connection Allocation 224,tf17 224,187
Replacement Allocations 155,000 1,957,000 773,000 2,885,000
Other 254,000 254,000
Debt Service 894,636 1,291,752 255,727 2,442,115
Total Transfersln 155,000 1,957,000 894,636 773,000 1,291,752 224,1Fi7 254,000 255,727 5,805,302
Total Revenue 1,787,668 475,970 462,530 15,466,044 2,875,334 5,404,725 953,009 14,543,253 1,220,350 1,758,943 1,343,619 2,317,576 607,187 1,733,995 265,691 579,747 51,795,641
Operating Expenses:
Operating
Personnel 1,067,016 113,445 420,717 4,741,328 115,607 177,474 2,570,805 459,772 981,336 5,737,729 509,984 16,895,213
Materials 30,802 11,550 1,500 2,256,900 53,500 8,401,291 282,900 25,310 197,105 11,260,859
Contracts 91,785 5,500 1,600 633,500 405,780 16,000 126,484 884,820 2,500 92,900 56,000 1,319,590 2,700 439,103 4,080,262
Other 8,575 250 550 139,725 250 250 826,525 79,025 200 300 1,287,619 81,230 3,087,898 262,991 5,775,388
Contribution to JPA 4,023,091 5,257,070 1,474,598 1,469,160 12,223,919
Capital Outlay 36,750 186,100 142,650 365,500
Allocated Costs 454,628 61,798 212,818 2,292,436 61,194 86,063 1,134,454 224,346 490,141 (5,018,078) -
Total Operating Expenses 1,653,006 229,293 637,185 14,086,980 822,431 5,538,857 953,009 14,544,993 1,112,368 3,059,147 1,343,619 2,317,576 3,597,882 265,691 439,103 50,601,141
Capital Projects (cash flow basis) 1,662,000 150,000 2,290,000 3,730,000 1,090,000 4,000,000 12,922,000
Transfers Out:
Connection Allocation 3,268 191,723 29,196 224,187
Replacement Allocations 155,000 1,957,000 773,000 2,885,000
Other 254,000 254,000
Debt Service 1,150,363 1,291,752 2,442,115
Total Transfers Out 155,000 3,268 1,957,000 1,342,086 773,000 1,320,948 254,000 5,805,302
Total Expenses 1,808,006 1,891,293 790,453 16,043,980 3,112,431 10,610,943 953,009 15,317,993 2,202,368 8,380,095 1,343,619 2,317,576 254,000 3,597,882 265,691 439,103 69,328,443
Net increase (decrease) (20,338) (1,415,323) (327,923) (577,937) (237,097) (5,206,218) (774,739) (982,018) (6,621,152) 0 353,187 (1,863,887) 140,644 (17,532,801)
Ending Working Capital June 30, 2009 $ 1,021,394 $ 4,889,923 $ 1,993,721 $ 9,058,751 $ 17,684,957 $32,155,565 $ 3,811,252 $ 4,118,105 $ 5,815,058 $ 7,427,248 $1,347,189 $ 25,060 $1,222,437 $ 2,519,784 $ 359,524 $1,176,648 $ 94,626,615
Working Capital Target (4 months) 551,002 4,695,660 4,848,331
Working Capital Min(mum (2 months) 275,501 2,347,830 2,424,165
Status Above Target Above Target _ Within Band
WC FY 09 new POSTED
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DUBLIN SAN ItAMON SERVICES DIS'I"RIC'I'
BASIC FINANCIAL STATEMENTS
FOR 'I'IIF, YEAR ENDED ,TUNE 30, 2008
DUBLIN SAN RAMON SERVICES DISTRICT
BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2008
Table of Contents
Page
INTRODUCTORY SECTION
Independent Auditor's Report ............................................................................................ . 1
Management's Discussion and Analysis .......................................................................... . 3
FINANCIAL STATEMENTS
Comparative Statement of Net Assets ............................................................................... 8
Comparative Statements of Revenues, Expenses and Changes in Fund Net Assets...... 10
Statements of Cash Flows ................................................................................... ... I 1
............................
NOTES TO FINANCIAL STATEMENTS ................................ .......... 13
SUPPLEMENTARY 1NTORMATION
Se~irer Operations
Combining Statement of Net Assets ........................................................ .................... 34
Combining Statements of Revenues and Expenses and Changes in Fund Net Assets... 35
Regional Sewer Operations
Combining Statement of Net Assets ................................................................................ 36
Combining Statements of Revenues and Expenses and Changes in Fund Net Assets... 37
Local Sewer Operations
Combining Statement of Net Assets ................................................................................ 3 S
Combining Statements of Revenues and Expenses and Changes in Fund Net Assets... 39
DUBLIN SAN RAMON SERVICES DISTRICT
BASIC FINANCIAL STATEMENTS
For the Year Ended June 30, 2008
Table of Contents
Water Operations
Combining Statement of Net Assets .................................................................................40
Combining Statements of Revenues and Expenses and Changes in Fund Net Assets ...41
Water Funds
Combining Statement of Net Asscts .................................................................................42
Combining Statements of Revenues and l xpenses and Changes in Fund Net Assets ...43
AtIocatians
Combining Statement of Net Assets .................................................................................44
Combining Statements of Revenues and l:;xpenses and Changes in Fund Net Assets ...45
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ACCOUNTANCY C®RPORATiO1V
3478 Buskirk Ave. -Suite 275
' Pleasant Hi11, California 94523
(925) 930-0902 • FAX (925) 930-0135
maze @mazeassociat es. com
' INDEPENDENT AUDITORS' REPORT www.mazeassociates.com
Board of Directors
' Dublin San Ramon Services District
Dublin, California
We have audited the basic financial statements of the Dublin San Ramon Services District for the year ended lone
' 30, 2008. These basic financial statements are the responsibility of the District's management. Our responsibility is
to express an opinion on these basic financial statements based on our audit. Comparative data for the year ended
June 30, 2007 has been summarized fio-n the prior year financial statements audited by us where we expressed an
' unqualified opinion dated November 1, 2007.
We conducted our audit in accordance with generally accepted auditing standards in the United States of America.
' '1"hose standards require that we plan and perform the audit to obtain reasonable assw•ance as to whether the basic
financial statements are free of material misstatement. An audit includes examining on a test basis evidence
supporting the amounts and disclosures in the basic financial statements. An audit also includes assessing tl~e
accounting principles used and significant estimates made by management, as well as evaluating the overall basic
financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
hi our opinion, the basic financial statements referred to above present fairly in all material respects the respective
' financial position of the Dublin San Ramon Services District at Jtme 30, 2008, and the results of its operations and
its cash flows for the year then ended, in conformity with generally accepted accounting principles in the United
Stales of America.
As described in Notes 8, 10, and 11 the District implemented the provisions of Governmental Accounting
Standards Board Statement No. 48, Sales and Pledges of Receivables a,~d Future Revenues a,~d h,tra-Entity
Ti•a„sfers of Assets a,~d future 12eve,tz,es and GASB Statement No. 45, rlccozn2lirrg cmd Fi,~a„cial Reporti„g by
rnr~loyers far Pasten,ploy,ne»t Benefits Otl,er T1,a,r Persio,~s and GASB Statement No. 50, Perr io„ Disclosures.
Management's Discussion and Analysis is required by.the Government Accounting Standards Board, but is not part
' of the basic financial statements. We have applied certain limited procedures to tl~is information, principally
inquiries of management regarding the methods of tmeasurement and presentation of this information, but we did not
audit this information and we express no opinion on it.
Our audit was made for the purpose of forning an opinion on the basic financial statements taken as a whole. The
supplemental information listed in the Table of Contents is presented for purposes of additional analysis and is not a
required part of the basic financial statements of the Dublin San Ramon Services District. Such information has
' been subjected to the auditing procedures applied in our audit of the basic financial statements, and in our opinion is
fait•ly stated in all material respects in relation to the basic financial statements taken as a whole.
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A Professtonat Corporation
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DUBLIN SAN RAMON SERVICES DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
BASIC FINANCIAL STATEMENTS
Fiscal Years Ended June 30, 2008 and 2007
Financial Hi lg_ilights
/ Total assets decreased by $11.8 million or -3.1%.
/ Total liabilities decreased by $12.1 million or -17.0%
/ The District's net assets increased $0.3 million or D.1%.
/ Total revenues decreased $3.9 million or -6.7%
/ Total expenses increased $7.9 million or 17.1%
Overview of the Financial Statements
The following overview of the financial activities of Dublin San Ramon Services District summarizes changes
in the District's basic financial statements. Basic financial statements consist of the Statement of Net Assets,
Statement of Revenues and Expenses and Changes in Net Assets, Statement of Cash Flows and Notes to
Financial Statements. The main purpose of .these statements is to provide the reader with sufficient
information to assess whether or not the District's overall financial position has improved or deteriorated..
Increases or decreases in net assets over time are. an indicator of the District's overall financial healtl~ and.
should he considered together with management's short and long-term plans for prospectively financing
operations and programs.
The Statement of Net Assets includes all District assets and liabilities and provides infot7nation about the
nature and amounts of investments in resources (assets} and obligations to creditors (liabilities). These
Statements provide data for calculating analytical review measw•es such as rate of rehirn, capital str2rctt-re, and
liquidity. Revenues and expenses are accounted for .irt the Statement of Revenues and Expenses and Changes
in Net Assets. These statements measure the success of District operations far the year and determine cost
recovery through user fees and other charges, profitability, and credit worthiness. Lastly, the Statement of
Cash Flows provide information about District cash receipts and disbursements and net changes in cash that
result from operating activities, non-capital financing activities, capital financing activities and investing
activities. Thus, the Statement of Cash Plows shows sources and uses of cash.
The format of the District's financial statements is in accordance with business-type activities known as
enterprise funds. Enterprise fiends are self-supporting funds that charge fees to users to cover the costs of
operation, maintenance and recur•ing capital replacement (OM&R) similar to the accounting used by private
sector companies. Enterprise funds report on the accrual basis of accounting recognizing all assets, liabilities,
revenues and expenses applicahle as of the fniancial statement date. The District is governed by a Board of
Directors, which sets policy, adopts budgets and appoints a General Manager to run operations. There are five
Directors elected at-large to overlapping four-year teens.
Chances in Net Assets
The following condensed Statement of Net Assets and Statement of Revenues and Expenses and Changes in
Fund Net Assets are presented in a comparative format together with percentage of change to facilitate
analysis of financial activity.
DUBLIN SAN RAMON SERVICES DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSES OF
BASIC FINANCIAL STATEMENTS
Fiscal Years Ended June 30, 2008 and 2007
Condensed Statement of Net Assets
Current and restricted assets
Capital assets
Other assets
Total assets
Current and restricted liabilities
Long-tem liabilities
Total liabilities
Net assets
Invested in capital assets, net of debt
Restricted for expansion
Restricted for debt service
Restricted for assessment district
Unrestricted
Total net assets
Fiscal Year Fiscal Year
Ended Ended
2008 2007
$ 99,771,932 $ 125,182,720
245,371,443 239,008,062
291048,285 21,809,845
374,191,660 385,997,627
3I,105,951
28,095,314 7,245,459
64,096,815
59,201,265 71,342,274
207,$ 89,308 187, 277,912
38,03b,226 46,125,675
3,123,483 5,b47,854
854,612 854,725
bS,086,76b 74,749,187
$ 314,990,395 $ 314,655,353
Fiscal Year
Ended
Chan a 2006 Change
-20.3% $ 145,348,284 -13.9%
2.7% 220,558,098 8.4%
33.2% 22,662,494 -3.8%
-3.1% 388,568,876 -0.7%
329.3% 9,529,814 -24.0%
-56.2% 76,454,508 -16.2%
-17.0% 85,984,327 -17.0%
1I.0% 158,254,460 18.3%
-17.5% 68,424,642 -32.6%
-44.7% 5,878,545 -3.9%
603,290 41.7%
-12.9% 69,423,612 7.7%
O.l% $ 302,584,549 4.0%
Condensed Statement of Revenues and Cxpenses and Changes in Fund Net Assets
Operating revenues -sewer
Operating revenues -water
Other revenues
Inveshnentincome
Non-operating revenues
Connection fees
Conh~ibutions
Total revenues
$ 16,093,655 $ 16,804,542
14,082,681 12,282,851
4,650,42b 4,620,077
5,492,130 6,684,883
10,292,G87 14,063,483
3,471,772 3,497,300
54,083,351 57,953,136
4.2% $ 16,662,759 0.9%
14.7% 9,504,483 29.2%
0.7% 4,543,]94 1.7%
-17.8% 3,795,096 76.1%
3,266,494
-26.8% 32,184,370 -Sb.3%
-0.7% 5,012,519 -30.2%
6.7% 74,968,915 -22.7%
Operating expenses -sewer
Operating expenses -water
Non-operating expenses
Total expenses
Change in net assets
Total net assets -beg of year
Total net assets -end of year
25,044,621 22,768,447
23,377,198 18,995,357
5,326,490 4,118,528
53,748,309 45,882,332
10.0% 22,253,045 2.3%
23.1% 15,319,371 24.0%
29.3% 1,864,041. 120.9%
17.1% 39,436,457 16.3%
$ 335,042 $ 12,070,804 -97.2% $ 35,532,458 -66.0%
314,655,353 302,584,549
$ 314,990,395 $ 314,655,353
4.0% 267,052,091 13.3%
0.1% $ 302,584,549 4.0%
1
t
4 I'
0
DUBLIN SAN RAMON SERVICES DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
BASIC FINANCIAL STATEMENTS
Fiscal Years Ended June 30, 2008 and 2007
Cut~•ent and restricted assets decreased 20.3% iI1 fiscal year 2008 primarily due to the decrease in
investments as $14.5 million was used to pay off debt. Capital assets increased 2.7°/a in the current year and
8.4% in the prior year due to completion of capital pI•ojects ~vl1ic11 expanded and improved the District's
infrastruchlre. Other assets increased by 33.2%, which is primarily due to the increase of the net OPEB
asset.
Culrent liabilities include accounts and interest payable, construction deposits, accnied expenses, connection
fee credits and current portion of long-telnl debt. Current liabilities increased 329.3% due to the principal
porliotn of the 2000 Variable Rate Demand Celtifcates of Participation {2000 COPS) being reclassified from
a long-term liability to a cutTent liability; see Financial Statement Note 8D far a detailed explanation. Long-
term liabilities, which include long-term debt atld long-term connection fee credits, decreased 56.2%
primarily due to the reclassification of the 2000 COPS $21 million and a prunciple reduction of $14.5
I1111110In.
II1 fiscal year 2008 there were small changes in rates for Sewer and Water. At the beginning of the fiscal
year the bi-monthly local sewer rate decreased from $12.20 to $9.80 for a single family residence. Sewer
revenues decreased 4.2% in fiscal year 2008 due to a decrease in local sewer rates. Local Sewer revenue
makes up 10% of total revenue genelated by Sewer operations. Water revenues increased 14.7% in fiscal
year 2008 partly due to an 8% rate increase to potable water rates and Iecycled v~~ater rates that went into
effect in January, 2008. In fiscal year 2008 we had a 4% increase in the number of customer accounts and
an 8% increase in water consumption. The fluch~ation in other revenues was minimal between 2008 alnd
2007. Ilnvestlment income decreased 17.8% between 2008 aIn(1 2007. Accounting standards require the
District to adjust the value of investments to market value at year-end. The decrease in investment income in
2008 is partly due to the decrease in interest rates and a decrease in Ialarket value recorded at year-end. In
2008 the District saw a 26.8% decrease in colulection fees and a 0.7% decrease in contributions (developer
donated facilities) as residential and commercial development slowed i1 East Dublin and Dougherty Valley.
Fiscal yeal• 2008 operating expenses increased 10.0% in Sewer operations, primarily due to increases in
personnel, matet•ials and contract sen~ices. As new facilities were put into operation in 2008, increases in
operating costs are expected. Operating expenses in Water operations incl~ased 23.1%, due to an increase
in costs of water purchased from Zone 7 and an increase in contract selvices. The increase in contract
services included payments to t11e DERWA JPA. Operational expenses for recycled water are shared by the
JPA paltners in proportion to the recycled water received; in fiscal year 2008 DSRSD's share was 74% of
those costs.
Non-operating expenses increased 29.3% or $1,2 million in 2008 primarily due to loss on investment in
joint powers authorities, LAV WMA and DERWA, Financial Statement Note 6 -- Investment in Joint Powers
Authorities provides additional information I•egarding LAVWMA and DERWA,
~ ,
DUBLIN SAN RAMON SERVICES DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
BASIC FINANCIAL STATEMENTS
Fiscal Years Ended June 30, 20Q8 and 2007
Capital Assets and Debt
Changes ui District-wide capital assets and accumulated depreciation are as follows:
Balance at .Transfers & Balance at
06/30/07 Additions Retirements Adjustments 06/30/08
Capital assets benig depreciated:
Land & Improvements
Buildings
Equipment
Sub-surface lines
Tota] capital assets being depreciated
Less:
Improvements
Buildings
Equipment
Sub-surface lines
Total accumulated depreciation
Net capital assets being depreciated
Capital assets not Ueing depreciated:
Construction in progress
$ b,351,169 $ - $ - $ 1,449,104 $ 7,800,273
112,661,094 - - 5,378,327 118,039,421
54,755,809 557,159 (485,390) 4,934,753 59,762,331
92,476,972 3,471,772 3,405,116 99,353,860
$ 266,245,044 $ 4,028,931 $ (485,390) $ 15,167,300 $ 284,955,885
{1,827,439) (258,713} {2,086,152)
(15,441,594) (2,326,687) {17,768,281)
{19,270,676} (2,225,612) 474,958 {21,021,330)
{20,840,106) (2,051.174) {22,891,280)
(57,379,815) (b,862,18b) 474,958 - (63,767,043)
208,865,229 (2,833,255) (10,432} 15,]b7,300 221,188,842
~i
~i
~i
~i
ii
30.139,833 9,210.068 - (15,167,300) 24,182,601 ' I
Total capital assets, net $ 239,005,062 $ 6,376,813 $ (10,432) $ - $ 245,371,443
In addition to Operations, Maintenance & Replacement (OM&R), the District also maintains an ongoing
capita] improvement program (C1P). The CIP i 0-Year Plan (Plan) is a document that reflects the District's
capital infrastructure needs for the neat ten years. The Plan is updated every two years in advance of the
preparation of the Two-Year C[P Budget.
The District spends a great deal on capital asset acquisition and capital projects to support growth in its
service area. For fiscal year ended 2008 the District purchased, had contributed, or constructed the
following assets:
Water reservoir 200B $3,520,334
Contributed sub-surface lines 3,471,772
Water pump station 20B 3,157,034
Water main and water system improvements 2,291,538
Wastewater treatment plant improvements 1,876,514
FSL landscaping and improvements 1,41b,641
Water Reservoir & pump station l0A improvements 1,223,511
Wastewater treatrxrent plant alternative energy and emergency power 1,072,805
Operations equipment, vehicles and office equipment 605,892
Financial, management, and operatuig software upgrades 560,190
$19.196.231
6
0
[]
DUBLIN SAN RAMON SERVICES DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
BASIC FINANCIAL STATEMENTS
Fiscal Years Ended June 30, 2008 and 2007
For fiscal year ended 2008 the District had the following activity in construction in progress:
Additions to Consruction in ProEress
Water reservoir 4 and pump station 4A $2,365,364
Wastewater treatment plant maintenance building 1,593,808
Water system improvements 1,135,586
Wastewater treatment plant improvements 969,214
Security and emergency preparedness 963,975
Wastewater treatment plant new bar screens 866,540
Building and landscape improvements District wide 550,239
SCADA and technology improvements 495,277
Recycled water system improvements 270A6S
21
Furancial Statement Note 4 -Capital Assets, provides more detailed information on capital asset activity.
The changes in long-term liabilities are as follows:
' Debt Payable
1997 Revenue Bonds
2000 Certificates of Participation
WateReuse Program
I
L
Balance at Principal Balance at
June 30, 2007 Additions Paynrerrts June 30, 2008
$3,640,000 $2,165,000 $1,475,000
35,500,000 11,885,000 23,615,000
13,860,000 475,000 I3,38S,000
53.000.000 $ 14.S2S.000 38.475.000
The District issued debt to fund expansion of the wastewater treatment facility, the recycled water facilities,
and to refinance debt issued for the District Administrative Office. For fiscal year 2008, no new debt was
issued and total principal repayment was $14,525,000.
Rates and Other Economic Factors
Financial Statement Note 8 -Long Tenn Debt, provides additional information on debt activity.
The District is not subject to general economic conditions such as increases or declines iu property tax
values or other types of revenues drat vary with economic conditions such as sales taxes. Accordingly,
the District sets its rates to cover the costs of OM&R and debt-financed capital improvements.
Contacting the District
This financial report is designed to provide our customers, investors and creditors with a general overview
of the District's finances and to show accountability for the money it receives. If you have questions
about #his report, or need any additional financial information, contact the Financial Services Department
at 7051 Dublin Blvd., Dublin, California 44568.
llUBLIN SAN RAMON SERVICES DISTRICT
CUMPARATIVI; STATEMENT OF NET ASSETS
JUNE 30, 2008
~4r1'Tl"1 SUMMARI%1:D'I'Ol'ALS AS OF JUNE 30, 2007
2UU8
Se4~~er Water Totals 2007
ASSETS
Current assets
Pooled cash $2,775,948 $1,198,611 $3,974,559 $4,694,904
Pooled invcsuncnts 58,987,156 24,487,508 83,474,664 106,386,969
Restricted investments 1,878,254 1,507,161 3,385,415 6,259,950
Accounts receivable 4,385,21 I 3,309,452 7,694,663 6,131, ] 98
Interest receivable 349,039 145,756 194,795 985,3~t7
Employee notes receivable 35, i 86 35,18b 33,475
llcfen ed cnnnetaion tees receivable 680, 130 680,130 648,986
Prcpatd expenses 5,854 26,fib6 32,520 41,891
'Total current assets 69,09b,77R 30,(,75,154 99,771,932 125, ] 82,720
)\ton-current assels:
Ater OP)rB asset 6,921,187 I,Oi5,U88 7,936,575
Capital assels:
Property, plant and equipment 170,997,462 1 13,958,423 284,955,885 2GG,2~45,04~4
Leas accumulated depreciation 43,302,b25 20,464,418 63,767,043 57,379;815
1\eE property, plant ant! equipment 127,644,837 93,494,005 221,1 RR,R42 208,865,229
Constntclion in progress 10,435,450 ] 3,?47, 151 24, 182,601 30,139,833
"Total rtpiltd assels 138,130,287 107,241,156 245,371,443 239,005,062
()[hcf 355CtS:
I)el'erred charges 713,191 199,674 942,865 1,272,850
hnresunent in joint potvcrs au[horitics 1~1,U71,558 2,215,798 1b,287,35b 15,452,905
Deterred connections receivable -long term 3;831;489 3,83 ],489 4ss4,o9o
"Total outer assets 18,b96,238 2,415,472 21,111,7]0 21,809,845
Total non-current assets 156,826,525 109,656,628 266,483,153 260,814,907
Total assets S232,844,790 $141,316,870 $37~{,191,660 $385,997,627
8
DUBLIN SAN RAMUN SERVICES DISTRICT
COMPARt1TIVE STATEMENT OF NET ASSETS
3UNE 30, zaa8
~t'ITH SUMtivlAltI2EU'1'Q'I'ALS AS OF JUNE 30, 2007
2008
Sen-er Water Totals 2007
LIABILiT1ES
Current liabilities:
Accounts payable $2,220,824 $3,621,791 $5,842,615 $3,099,813
Coutracror bonds and deposits 706,577 8D1,154 1,5D7,731 1,393,115
Accrued expenses 73,543 73,543 132,155
Accrued compensated absences 479,957 237,955 717,9]2 695,b08
Interest payable 96,370 96,370 124,464
Current portion of long-term debt 21,215,000 490,000 21,7D5,D00 660,000
Deferred rcvcnue and other liabilities i,162,780 1,162,780 1,139,804
Total current liabikities 25,955,051 5,150,900 31,105,951 7,245,459
l.oug term liabilities:
Long-term debt
Iess current portion 3,875,000 12,895,000 16,770,000 52,340,000
Arbitrage payable 56,371 Sb,371 42,045
n1,D remediation payable 620,000 62Q000
Deferred rcvcnue 3,831,489 6,817;454 10,648,943 11,714,770
'Total long term liabilities 8,326,489 19,7(18,825 Z8,D95,314 b4,D9G,R15
I"o[allittbililies 34.281.540 24,919,725 19,201,265 71,342.274
1\~ET ASSG"1'S
Invested in capital assets, net ol'rclated debt 113,833,478 94,055,830 207,889,308 187,277,912
Restricted for:
Expansion 32,655,589 5,380,637 38,036,226 46,125,675
Dcbts'ervice 1,872,214 1,251,2b9 3,123,~i83 5,617,854
Assessment district 854,6]2 854,6!2 854,725
iJnrestrictcd 50,201,969 14,884,797 65,086,766 74,749, ] 87
Total net assets 3198,563,250 $116,427,145 $314,990,395 $314,655,353
See accompanying notes to basic financial statements
9
11
DUBLIN SAN RAMON SERVICES DISTRICT
COMPARA7`IVE STATEMENTS OI' REVENUES AND EXPENSES
AND CHANGES 1N FUND NET ASSETS
I~OR THE YEAR ENDED JUNE 30, 2008
11'ITH SIJMMARl~F:[3'I'E)TALS POR TFIE YFAIZ I;ND}:U JUNG 30, 2007
OPERATING REVENUES
Wastewater service charges
Water sales
Utherrevenues
"l'otal operating revenues
UPERATING EXPENSES
Personnel
Materials
Conb-actual services
Other
Depreciation
"I•otal operating expenses
OPERATING (LOSS)
NONOPERA•fINCi REVENUES (EXPENSE)
Investment income
Interest expense
Clain (Loss) on investment in ,IPA
Gain (Loss} on disposal of capital assets
Total non-operating revenues {expense), net
2o0g
Sewer Water Total 2007
$16,093,655 $ ] 6,093,655 $16,804,542
$14,082,68] 14,082,681 12,282,851
2,045,885 2,604,541 4,b50,426 4,620,077
18,139,540 16,687,222 34,826,762 33,707,470
9,765,178 6,239,761 16,004,939 13,828,974
2,347,038 8,332,145 10,679,183 9,424,585
8,617,991 5,996,537 14,614,52 8 11,671,270
154,002 106,981 260,983 626,717
4,160,412 2,701,774 6,862,186 6,212,258
25,044,621 23,377,198 ~I8,421,819 41,763,804
(6,905,081) (b,689,97G} (13,595,057) (8,056,334)
3,754,494 1,737,636 5,492,130 6,684,883
{1,416,647} (619,628) (2,03b,275} (2,201,11b)
(3,533,636) 220,932 (3,312,704) (1,634,223)
17,004 5,485 22,489 (283, 189)
(1,178,785} 1,344,425 165,640 2,566,355
1,OSS 13L1'ORE CONTRIBUTIONS AND TRANSFERS (8,083,866) (5,345,551) (13,429,417) (5,489,979)
Non-cash contributions 1,003,088 2,4b8,684 3,471,772 3,497,300
Capital contributions -connection fees 7,876,102 2,416,585 10,292,687 14,063,483
•I'ransfcrs in 187,746 187,746 203,135
Transfers (out} { 187,746) { 187,746} (203,135)
Changes in net assets 983,070 (648,025) 335,042 12,070,804
TOTAL NET ASSETS, BEGINNING OF YEAR 197,580,18fl 117,075,173 314,655,353 302,584,549
TOTAI. NE"C ASSETS, END OI' YEAR $] 48,563,250 $I 16,427,145 $314,990,395 $314,655,353
See accompanying notes to basic financial statements
10
11
11
11
II
1
11
11
~i
DUBLIN SAN RAMON SERVICES DISTRICT
STATEiViEbTTS OF CASH Fi.OWS
PROPIiIEfARY FUNDS - ENTERPRISE
FOR THE YEAR ENDED JUNE 3Q 2008
87TH S[JASMARIZED TOTALS FOR 17iE YEAR ENDER JUtvB 30, 2007
CASH FLOWS FROb4 OPERATING ACTIVITIES
Receipts from customers, users and joint potters authorities
Payments for services and supplies
Payments to or on behalf otemployees
Net Cash Provided (Used) by Operating Activities
CASI[ FLOWS FROM NONCAPITAL FINANCING ACf1V1TIES
Due to other funds
Due from other funds
Transfers in
'Cransfers out
Net Cash Used in Noncapital Financing Activities
CASH FLOWS FROM CAPITAL AND RF•,LATED FINANCING
ACTNTTIES
('rincipal paid onlong-tens debt
Jnterest paid on tong-teen debt
Acquisition and construction ofcapital asseu
Sale of other capital assets
Payment ofcapital asset casts reimbursable by DERWA
Connection fees collected
Net Cash (Used) Financing Activities
CASH FT.OWS FRO\4 INVESTING ACTIVITIES
City of Livermore expansion fee
htvesfinents in joint potters authorities
Interest received
Purchase of U.S. government securities
Sales of [J,S. government securities
Net proceeds (purchase) of other im•estmenis
Net proceeds {purchase) of i.A[F invesunent
Net Cash Provided by in hmesting Activities
NET DECREASE IN CASI I AND EQUIVALENTS
CASH ANll CASI[ EQUNALENTS, BEGINNING OF YEAR
CASH AND CASH EQUNALTiNTS, END OF YEAR
RECONCA.IATION OF OPERATING INCOME (LOSS} TO NET CASI-I
PROVIDED BY (USEll} OPERATING ACf1V1'C1ES
Operating (loss}
Adjustments to reconcile net loss to net cash
provided by operating activities:
Depreciation
{Increase) deereasein accountsreceivable
(increase) decrease in employees
notes receivable
(increase) decrease in prepaid expenses
(Increase) decrease in net OPEB asset
increase (decrease) in accounts pa}able
Increase (decrease) in DLD remediation pa}able
Increase (decrease}in arbitrage payable
Increase {decrease}in contractor bonds and deposits payable
Increase (decrease}in accrued expenses
increase (decrease}ineompensated absences
Total adjustments
NET CASH PROVIDED BY (USED) OPERATING ACTIVITIES
NON CASH TRANSACTIONS:
Pair market value adjustment (decrease) increase
Contn'buted assets
aoos
Setter Water Total 2007
$16,882,197 $16,390,473 $33,272,668 $36,803,429
(9,416,942) {12,704,620) (22,121,562) (24,878,818)
{16,691,093} (7,229,828) (23,92Q921) (13,791,629)
(9,225,838} {3,543,977) (12,769,815) (1,867,018)
3,061,467 3,061,467
(3,061,467) (3,061,467)
187,746 187,746 203,135
(187,746} (187,746) (203,135)
3,249,213 (3,249,213}
(12,921,600} (1,603,400) (14,525,000) (10,640,000)
(1,291,287) (493,597) (1,784,884) (2,172,262)
{4,936,440) (4,830,787} (9,767,227) (21,445,111)
23,484 9,437 32,921
(96,000)
7,867,934 2,103,359 9.971,293 20,583.266
(11,257,909) (4,814,988) (16,072,897) (13,470,107)
4,871,389
{3,647,156) {3,647,156) (8,662,799)
4,070,170 1,912,513 5,982,683 6,746,693
{9,]25,]63) (5,864,837) (14,994,000} (41,480,128)
29,828,750 19,171,250 49,000,000 47,952,902
(10,666,223) (7,967,317) (18,633,540) 1,]35,583
6,337,319 4,073,061 _ _ 10,410,380 8,963,127
16,797,697 11,324,670 28,122,367 19,026,767
(436,837) (283,508) {720,345) 3,689,642
3,212,785 1,482,1 i9 4,694,904 1,005,262
$2,775,948 $1,198,6]1 $3,974,559 $4,694,904
($6,905,081) ($6,689,976} ($E3,595,057) ($8,086,334)
4,160,412 2,70],774 6,862,186 6,212,258
(1,263,619) (249,846) {1,563,965) (1,059,906)
(1,711) (F,711) 6,321
b,276 3,095 9,371 4,155,865
{6,921,487) {1,015,088) {7,936,575)
797,577 1,945,225 2,742,802 {1,34b,128)
620,000 620,000
14,326 14,326 {48,126)
343,124 (228,508) 114,616 (1,787,514)
(58,612) {58,612) 28,827
(2,717} 25,021, _ 22,304 31,024
(2,320,757} 3,145,499 825,242 6,189,316
($9,2838} {$3,543,977) _($12,769,815) _ ($1,867,0[8)
(214,663) (20,921) (235,584) (229,010)
1,003,088 2,468,684 3,471,772 3,497,300
See accwnpanying notes to basic financial statements
))
DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2aaa
rVQTT #1- SUMMARY()F,SIGNII'1C~INT~I0001UrVTlrVCr POI.It;tls'.S
A. General
Dublin San Ramon Services District (the District) is organized under the Community Services District Act
provisions of the general laws of the State of California and is governed by a flue-member Board of Directors.
The District, which was establislted in 1953 and became active in 1960, provides water, recycled water and
waste+vater collection and treatment services. "i`he District's jurisdiction is approximately 26 square miles in the
counties of Alameda and Contra Costa, Califw•nia.
B. Basis of Accounting
The DI$tl•ICt l5 a pl'OpCletaly elltlt~; it uses an enterprise fund format to repol-t its activities for financial statement
purposes, Enterprise fiends are used to account for operations that are financed and operated in a manner similar
to private business enterprise, where the intent of the governing body is that the costs and expenses, including
depreciation, and providing goods or services to the gelteral public on a continuing basis, be Cmanced or
recovered primarily through user charges.
An enterprise fund is used to account for activities similar to those in the private sector, where the proper
matching of• revenues and costs is important and the full accrual basis of accounting is required. With this
measurelneltt focus, all assets and all liabilities of the enterprise arc recol•ded on its statement of net assets, and
under the full accrual, basis of accounting all revenues are 1•ecogni~ed when eal•Ited and all expenses, including
depreciation, arc recognised +when incurred,
A Major Fund is a futul whose revenues, expenditures/expenses, assets or ]iabilities (excluding extraordinary
items) are at least 10 perceltt of col•responding totaks for all fiiutds.
The DisU•ici reports the follo+ving major Proprietary Funds:
Water F~nterprise - ~fhis enterprise accounts for the operation, maintenance and capital improvement
projects of the water system, +vhich is funded by user charges and other fees.
Sewer Enterprise --~ This enterprise accounts for the operation, maintenance and capital improvement
projects of the sewer system vltich are funded by user charges and other fees.
"1'lte District applies all applicable pronouncements of the Gavermnental Accounting Standards Board (GASB)
as well as any applicable pronouncements of the Financial Accounting Standards Board, the Accounting
~~ ~ Principles Board, or any Accounting Research Bulletins issued on or before November 30, 1989, unless those
pronouncements conflict with or contradict GASB pronouncements.
' C. Measurement Focus
Enterprise funds are accounted for on a cost of sell~ices or ecoatoutic resources measurement focus, vltich
' means that all assets and all liabilities associated +vith their activity are ittcludcd on their balance sheets.
Enterprise fund type operating statements present htcl•eases (revenues) and decreases (expenses) in total net
assets.
' 13
NOTL #1 - SUMM~IRY O1~ .SIGNIFICANT ACCOUNTING PUI,ICII'S (Cnntimred)
D. [Zepor•tina Entity
In evaluating how to define the government for financial purposes, management has considered all potential
component units. The decision to include a potential component unit in the reporting entity was made by
applying the criteria prescribed by Generally Accepted Accounting Principals {GRAY}. As required by GAAP,
these financial statements present the primary government and its component units, entities for which the
government is considered to be financially accountable. rinancial accountability is interpreted to mean
appointment of a voting tnajority of the component unit's board and either the ability to impose will by the
primary government or the possibility tl~at there is a financial benefit or burden on the primary government.
In evaluating the financial reporting entity for purpose of preparing the basic financial statements, fire District
has determined it is financially accountable for the DSRSD Financing Corporation. The Corporation is included
as a blended component unit in these basic financial statements.
C:. Capital Assets
Capital assets, which include property, plant, and equipment are recorded at historical costs or estimated
historical cost, if actual cost is not available. Contributed assets are recorded at estimated fair value on the date
of contribution.
The District defines capital assets as assets with an initial, individual cost of $5,000 and an estimated useful life
in eYCess of one year.
Depreciation is computed by the sb•aight-line method based on the estimated usefirl lives of related asset
classifications. The District has assigned the useful lives listed below to capital assets:
l..and Improvements 15-25 years
Buildings 10-50 years
F,quipment 5-25 years
Sub-surface {roes 25-50 years
T'. Cash Flows Defined
For purpose of tl~e statements of cash tlows the District defines cash and cash equivalents to include all cash in
deposit accounts and cash on hand but does not include cash held in escrow for restricted purposes.
G. Accounts Receivable
The District bills its water consumption and sewer usage on a cycle billing method. Cycle billing results in an '
amount of services rendered but not yet billed at year-end. The District has recorded this revenue by estimating
the cmbilled amount. The estimate was calculated by using the billing subsequent to the balance sheet date (Jame
30) and calculating the amount of service provided prior to June 30. This calculated amount is included in ,
accounts receivable.
14 '
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DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
NUTR #1- SUMMARY OI' SIGNIFICANT ACCOUNTING POLICIES (CofNijrlred)
H. Acal•ued Compel~sated Absences
'1`lze liability for vested vacation pay is calculated and accrued on an amlual basis. The amount is comprrted
using current employee accumulated vacation hours at current pay rates.
I. }teclassitication
The Dish•ict changed the classification of certain amounts in the current year financial statements to improve
their presentation. Amounts for the prior fiscal year have been reclassified to conform to the current year
presentation,
NUTI' #2 -CASH AND IArVF:STi1/ITNT,S
A. Policies
California Larv generally requires banks and SaV]ngS and loan 111sfItUt1011S t0 pledge government seall•ities
with a market value of 1 10% of the District's cash on deposit, or first U•Elst deed mortgage notes with a market
value of 1 SO% of tl~e deposit, as collateral for these deposits. Under California Larv this collateral is held in a
separate investment pool by another institution in the District's name and places the District ahead of general
creditors of the institution. As of June 30, 2008, the District's cash in bank was insured or collateralized as
discussed above. At June 30, 2008, the District held $199,521 in escrow accounts on behalf of developers,
which were not collateralized as allor>~~ed in the government code.
The District invests in individual investments and in investment pools. lndividual investments are evidenced
by specific identifiable securities instrlnnents, or by an electronic enh•y registering the owner in the records of
the institution issuing the security, called the book entry system. In order to increase security, the District
employs the Trust Del.~artment of a bank as the custodian of certain District managed investments, regardless
ol'their form.
The District's investments are carries{ at fair value, as required by generally accepted accounting principles.
The District adjusts tl~e carrying value of its invesUnents to reflect their fair vahle at each fiscal year end, and
it includes the effects of these adjustments in income for that fiscal year.
B. Classification
Cash and investments are classified in the financial statements as shown below, based on whether or not their
use is restricted under the terms of District debt instruments or Agency agreements.
Cash and Cash Equivalents $3,974,559
investments 83,474,6b4
ttestricted investments 3,38S,4iS
Total Cash and investments $9t},834,b3$
15
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DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNF, 30, 2008
NOTE #2 -- CiI~Sll~IND INYL'STR~Is'NT.S (Continued)
C. htvestmettts Authorized by the California Government Code and the District's Investment 1'olicY
The Dish•ict's Investment Policy and the California Government Code allow the District to invest in the
following provided .the credit ratings of the issuers are acceptable to the Disleict; and approved percentages
and maturities are not exceeded. The table below also identifies certain provisions of the California
Government Code, or the District's Investment Policy where the District's investment Policy is more
restrictive.
M inimtutt
Maximum Credit
Authorized Investment Type Maturity Quality
Repurchase Agreements 1 Year None
California Local Agency Investment Fund Upott Dettland None
IJ.S. `I~reasuty Obligations 5 Years None
U.S. Agency Securities 5 Years None
lnsured or Collateralized Deposits with Banks, Savings and Upon Demand None
California Asset Management Program Upon Demand None
l of the 2
Local Agency Bonds 5 Years l-lighest
Medium Term Notes 5 Years A
Commercial Paper l84 Uays A
Vhith the exception of U.S. Treasury securities, U.S. Government Agency sponsored obligations, the
California Asset Management Program (CAMP) and the Local Agency Investment Fund (LAID), no more
titan 50% of the District's total investment portfolio will be invested in a single security type or with a single
institution.
"I'he District does not enter into reverse repurchase agreements.
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II
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DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
N()TE lit - CASHAND INVESTMENTS (Corrtirruec!)
D. Investments Authorized by Debt Agreements
The DisU•ict must maintain required amounts of cash and investments with trustees or fiscal agents under the
terms of certain debt issues. These funds are unexpended bond proceeds or are pledged reserves to be used if
the District fails to meet its obligations under these debt issues. The California Government Code requires
these funds to be invested in accordance with District resolutions, bond indentures or State statutes. The table
below identities the investment types tltat are authorized i'or investments held by fiscal agents. "1'he table also
identifies certain provisions of these debt agreements:
Authorized Investment •1'ype
I1.S Agency Securities
Bankers' Acceptances
Commercial Paper
Money Market Mutual Funds
California Local Agency Investment Fund
Pre-funded Municipal Obligations
Repurchase Agreements
Maximum Minimum Credit
Maturity
5 years
3G0 days
270 days
N/A
N/A
N/A
30 days
Quality
Aga
P-1
P-1
AAATn
None
AAA
n
'T'here are no restrictions on the maximum amount im~ested in each security type or maximum that call be
invested in any one issuer.
E. Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an
investment. Normally, the longer the maturity of an investment, the greater the sensitivity of its fair value to
changes in market interest rates. T}te District generally manages its interest rate risk by holding investments to
maturity.
Information about the sensitivit~}J of the fair values of the District's imlesttnents (including investments held by
bond trustees) to market interest rate fluchrations is provided by the follarving table that shows the distribution
of the District's inveshnents by mattu•ity or eat•liest call date:
17
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DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2aas
NOTls' #2 - CASI~rIND INI~I;'STMI;'NTS (Coirtilrrted)
2 Months 36 to 60 aver 60
Investment "Type or less Months Months Total
IJ.S, Agency Securities
I~lon-callable $3,OS2,50U $1,978,000 $8,030,500
Callable 20,231,750 20,231,750
California ].oca1 Agency Investment i'und 38,684,271 38,684,271
California Asset Management Program 16,528,143 16,528,143
Total Uirresb•ictet! I~rvesb~tents 78,496,664 4,978,000 83,474,664
WestLFi Guarantee [nvestment Contract $1,170,573 1,170,573
Motley Market Funds 2,015,321 2,015,321
Escj•ow Deposits 199,521 199,521
Tot~rl RestrlcPerll~n~esUirents 2,214,842 1,170,573 3,385,415
Tntrrl tm=est~rrents $80,711,506 $4,978,000 $],170,573 $86,860,079
The District is a participant i~t t17e Local Agency Investment fund {LAIF) that is regulated by California
Government Erode Section 16429 under the oversight of the Treasurer o1'the State of Califiornia. The District
reports its investment hl L.AII~ at the fair value amount provided by LAIF, which is the same as the value of
the pool share. 1'he balance available for withdratival is based on the accounting records maintained by LA1T~,
which are recot•ded on att amortized cost basis. Included in LAII~'s investment pot•tfolio at•e collateralized
mortgage obligations, mortgage-backed securities, other asset-backed sectu•ities, loans to certain state timds,
and floating rate securities issued by federal agencies, government-sponsored enterprises, United States
Treasury Notes and Bills, and corporations. At June 30, 2008, these investments matured in an average of 212
days.
The District is a voluntary participant in the California Asset Management Program (CAMP}. CAMP is an
investment pool offered by tl~e California Asset Management Trust (the Trust}. The Trust is a joint powers
authority and public agency created by the Declaration of Trust and established under the provisions of the
California Joint hxet•cise of Powers Act (Ca{ifornia Government Code Sections 6500 et sec}., or the "Act") for
the purpose of exercising the common power of its Participants to invest certain proceeds of debt issues and
surplus funds. The Poal's investments are limited to itn~esttnents permitted by subdivisions (a} to (n),
inclusive, of Section 53601 of the California Govermnent Code. 'fhe District reports its investments in CAMP
at the fair value amounts. provided by CAMP, which is the same as the value of the pool share. At 3une 30,
2008, the fair valtte approximated is the District's cost. At 3une 30, 2008, these investments have an average
maturity of 49 days,
Money market funds arc available for withdrawal on demand and at June 30, 2008, matured in an average of
4-19 days.
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DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
NQTIs #2 - CASII ~INU INI~ESTMLNT.S (Cottlit~tred)
F. Credit Risk
Credit risk is the risk tl~at an issuer of an investment will not fulfill its obligation to the holder of the
investment. This is measured by the assignment of a rating by a nationally recognized statistical rating
organization. Presented below is the actual rating as of June 30, 2008 for each investment type as provided
by Standard and Poor's.
Investment Type
U.S Agency Securities
California Asset Management Program
Not -•atecl:
California Local Agency Investment Fund
"Total Unrestricted Investments
WestLB Guarantee Investment Contract
Money Market funds
A'ot rntecl:
Lacrow Deposits
Total Restricted Investments
Total investments
G. Concentration of Credit Risk
Included in the table at E. above are the following significant investments in 1
than U. S, Treasury securities, mutual ftmds, attd eternal investment pools:
Investment
Issuer Type
Federal Nome Loan Mortgage Corporation U.S agency securities
Federal Home Loan Bank U.S agency securities
AAA t1- Total
$28,2b2,250 $28,262,250
16, 528,143 16,528,143
38,684,271
83,474,b64
$ I , ] 70,573 I ,170,573
2,015,32 l 2,015,321
19
199,521
3,385,415
$86,860,079
he seau•ities of issuers other
Repotted
Atl7outit
$15,408,200
13,254,050
NOTE #3 --- RLS1'IZICTED A SSETS AND RIsS7RICTED NET ASSET S
A. Restricted Assets
u
The Board is restricted by resolution in allocating connection fee revenues to tl}e expansion of the Dish•ict
facilities and to certain related costs and may exercise discretion only in selecting among competing capital
projects and activities. By resolution, the T3oard allocated ninety-five percent of connection fees fir capita!
projects and five percent for indirect adminish•adve overhead costs.
The administrative overhead percentages may be adjusted at the discretion of the Board.
]3alances afrestricted assets described above as ofJune 30, 2008 and 2007 are as i'ollows:
Legalh~ restricted funds 2008
1997 Refunding Revenuel3onds $275,410
2000 Sewer COPs 1,602,844
WasteReuse Installment Purcl3ase Contracts 1,347,640
Contractor Retentions 199,521
`total legally restricted flmds $3,385,415
B. IZestj•icted Net Assets
2007
$374,519
3,941,141
1,389,234
555,056
$b,259,950
The District I~as restricted its net assets for capital expansion, asset replacement and other ptn-poses in the
amounts set forth below;
C~~tal expansion
Local sever expansion
Regional sewer expansion
Water expansion
Debt Service
2000 Sewer COPs
1997 Bonds
WasteReuse Bonds
Assessment District
Dougherty Valley Assessment District
2008 2007
$2,014,132 $2,176,980
30,64 ] ,457 31,669,244
5,380,637 12,279,451
38,036?26 46,125,675
1,602,844 3,941,141
269,370 359,524
1,251,269 I,347,189
3,123,483 5,647,854
854,612 854,725
854,612 854,725
`total restrictions on net assets $42,Ot4,321 $52,628,254
20
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AUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 200$
~1TOTE #~ -- C ~1PIT~IL ~ISSLT.S
Changes in capital assets accounts are summarized belorv:
Balance at
June 30, 2007 Additions ]Zetirements
Capital assets being depreciated:
t-and and Improvements
Buildings
I:quipmcnt
Sub-surface lines
'T'otal capital assets being depreciated:
less accumulated depreciation tor:
Improvements
Buildings
Equipment
Sub-surface lines
l-oral accumulated depreciation
NcE capital a+sels being dcpmciatcd
Capital assets not being depreciated:
Construction in progress
Tutal capital a5s'Ms, net
Balance at
Transfers June 30, 2008
$6,351,169 $1,449,104 $7,800,273
1 12,66l,09~I 5,378,327 1 18,039,42!
54,755,809 $157,159 ($485,390) 4,934,753 59,762,331
92,476,972 3,471,772 3,405,116 99,353,860
266,245,0.14 4,028,931 (485,390) ! 5,167,300 284,915,885
(1,827,439} {258,713)
(15,441,594} (2,326,687}
{ 19,270,676) (2,225,612} 474,958
{20,840,106) (2,051,174)
{57,374,815) (6,862,186} 474,958
208,865,229 (2,833,255} (10,432}
(2,086, 152)
(17,768,281)
(21,021,33 U)
(22,891,280}
(63,767,043)
15,167,300 221,188,842
30.139.833 9,210,068 (15,167,300) 24,182,601
5239,0(15.062 56,376,813 (510,432) $245,371.443
T17e District had outstanding construction commitments on capital projects totaling $16,946,726 at Junc 30,
2008.
N07L ii5 -1~L*'I~I'IZRF,1~ COr\riVl'CTIOiV FI;F,.S IZF.CTI i~f113I,I'
In fiscal year ended June 30, ] 997, the District implemented a deferred payment program for regional sewer
connection fees as a means to attract new business to the area. 'T'he program was modified its subsequent years
and is now designed for commercial and affordable housing regions! sewer connection fees behveen $25,000
and $100,000.
Customers make a riventy percent down payment and enter into an agJ-eetneni ~vitl-J the District to pay the
balance over a maxinnmt often years. The connection fee revenue is recagnized as it is received. The portions
ottstanding are recorded as defeJ•red connection fees receivable, which amounted to $4,51 I,6I9 at .Tune 30,
2008.
21
DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO I+INANCIAL STATEMENTS
JUNE 30, 20Q8
N07 L tl G - INVESTiYILNT IN JOItVT PO I3~ERS A UTIIORITIES
A. LAV\VMA
The District is one of three participants in the Livermore Antadot• Valley Water Management Agency
(LAVWMA), a joint powers authority formed in 1974, which constructed and operates an export pulmping
facility through which ail wastewater in the area is discharged, .The other two participants are the Cities of
lavermore anti 1'leasal,ton, each also having cone-third representation in LAVWMA's Board of Directors,
composed of two representatives from each participating agency. The I,AVWMA's Board of Directors
approves I,AVWMA's annual budget, ~a~hich is prepared by I.AVWMA's general manager. The Agency
charges its members for project costs in proportion to their rights to the Agency's capacity.
The DisU•ict contracts with the City of Pleasanton ("City"} to provide wastewater treatment and disposal. The
District establishes user charges for these wastewater services. The City then establishes those same charges
in its service area and remits the charges they collect to the ))ISt!'ICt on a monthly basis. A portion of the user
charge is for the services pl°ovided by L.AVWMA. LAVWMA bills the District for both the District's and
Pleasanton's slzare of these costs (which includes both operations and debt service}. 7•he District's share of
LAVWMA is $14,071,558 at .lone 30, 2008. Financial statements for the Authority may be obtained from
LAVWMA, 623 West Myrick Court, Clayton, California 94517.
B. Df:RVI~A
"I'he District is also a participant {along with bast Bay Municipal [Jtility District} in the DSRSD/EBMUD
Recycled Water Authority {DERWA), a joint powers authority formed in 1995 to plan, design, consh•uct, own
and operate various facilities which together will maximize the volllrme of recycled water deliveries while
recovering its costs. Once those facilities al'e constructed and continue for an approximate 10-20 year period,
the members will extend conveyance l~tcilities from the DER\\~A built facilities to their customers. Each
member provides t~~ro representatives to llE1t~VA's Board of Directors which approves the annual budget
prepared by DT;RWA's treasurer. 1`he Authority began its operations on June 28, 1995.
1)I;RWA has constructed. a water recycling system, 1nCllldltlg tl'Cat]1lCllt, conveyance, pumping and storage
facilities which became operational on February 1, 2006. Operation and maintenance expenses are allocated ,
based on each member's actual usage. Cal}ita! costs, including debt service, will be allocated based on each
member's pt•opartiona] value of capital assets.
The Dish•ict's share of DER\[l!A is $2,215,798 at June 30, 2008. Financial statements may be obtained from ,
DERWA, P.O. Box 24055 Oakland, California 94623.
ArOTE #7 - INTERFU~VD TRfdA~SI~ERS
1n the year ended Jtu~e 30, 2008, the District made total transfers of $1$7,74b from the Water Fund to the
Sewer Fund to move net revenues That were allocated fromm shared funds and were used to account for debt
service, administrative expenses, and other post employment benefit activiq~.
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DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
NOTE #8 -LONG-TERM DEBT
Original
Issue Balance
Amount Junc 30, 2007 Retirements
1997 Revenue Refunding Bands
4.40%-5.01%, dtte 12/01/2014 $5,025,000
2000 Se.rics COPs
variable rate, due 08/01/2035 55,000,000
WateReuse I'rogrartt
variable rate, clue OS/U I /2028 16,415,000
1'ata] Long-"fern Debt
A. Refunding Revenue }3onds
$3,640,000 $2,165,000
35,500,000 11,885,000
13,860,000 475,000
Amount
Balance due within
June 30, 2008 one year
$1,475,000 $195,000
23,615,000 21,020,000
13,385,000 490,400
$53,000,000 $14,525,000 $38,475,000 $21,705,000
On December 11, 1997, the District issued $5,025,000 of ]997 Refunding Revenue Bonds. `these bonds are
payable from available Net Revenues of the water and waste water enterprises. Proceeds of the issuance were
used to refund and retire the 1990 Certificates of Participation issued by the llSRSD Financing Corporation, to
provide a reserve fund and to pay costs of issuance. tnterest rates range from 4% to 5%. These bonds mature
through f.)ecember 1, 2014 with principal amounts clue December 1, and interest payments due on December 1
and June 1 of each year. A principal payment of $2.2 million was made in fiscal year etzding 2008.
The District is required to maintain a Rescrvc Furtd in an amount equal to the maximum annual debt service.
`I'hc Reserve Func1 was initially funded from the proceeds of the Refunding Revenue Bonds in an amoturt equal
to the Reserve Requirement. If on any tnterest Payment Date tltere are insufficient monies in the Bond Fund to
pay principal and interest then due, the `T'rustee is required to transfer sa much of the Reserve Fund as is
necessary to make such payment. Any mantes an deposit in excess of the Reserve Requirement will be
transferred to the Bond t~und.
The pledge of fuhtre V-'ater and Wastewater Fund Revenues ends ttpat repayment of the $1.7 million in
remaining debt service on the bonds which is scheduled to occurr in 2014. Far fiscal year 2008, Water and
~~~astewater Fund Revenues including operating revenues artd non-operating interest earnings amounted to
$SO.b million and operating costs include operating expenses, bttt not interest, depreciation or amortizations and
amounted to $41.5 million. Net Revenues available for debt service amounted to $9.1 million which
represented coverage of 4 over the $2.3 million in debt service.
23
DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
NOTE #~i --LONG-TENM DEBT' (cotttitttted)
13. Certificates of Participation 2000 Series
On August 2, 2000, $55,000,000 principal amount of 2000 Variable Rate Demand Cel•titicates of Pal-tieipation
(2000 GOPs) were issued through the DSRSD Financing Corporation to Finance the expansion of and
improvements to the DSRSD Wastewater 'I'reatrnent Plant. The Certificates arc payable from Available Net
Revenues of the DisU•ict's Server enter}~rise, exclusive of regional connection fees. "I'he District has a contractual
agreement rr~itlt the City of 1'Icasanton that states that surplus fiords in the Regional Server lxpansion Funds will
be used to pay debt principal. A principal pa}mteni of $ 11.9 million ryas made in fiscal year ending 2008.
The Certificates hear interest at the Bank's Weekly Rate, and is payable on the first of each month, commencing
September 1, 2000. The interest rate as of June 30, 2008 was 7%. "1'Itese Certifrcates mature through 2035 with
principa! amounts due commencing in 2032.
C. WateReuse Variable Rate Financing i'rogram
"l'he District entered into an lnstalhnent Plncltase Contract as of November 1, 2000 in the amount of $9,050,000
to finance the acquisition, installment and construction of rivo reservoir projects, a pump station, a water Fine and
related improvements. Proceeds were also utilized to establish a Reserve fund and to pay Costs of Issuance.
The Purchase Contract bears interest rate at the E3ank of New York Western Trust Company's Weekly Rate, and
is payable monthly. The interest rate as of June 30, 2008 ryas 1.32%. `I'bis issuance matul•es tln•ough 2028 with
principa] amounts due May l .
"I'he Uistrict entered into a second Installment Purchase Contract as on May 1, 2001 in the amount of $7,3b5,000
to finance the acquisition, installation and construction of a water tank, a pump station, a mater line, a recycled
water main and related improvements. Proceeds were also utilized to establish a Reserve Fund and to pay costs
of issuance. 'I'llc Purchase Cattract bears interest at the (3ank of New York Western Trust Company's Weekly
Rate, and is payable monthly. The interest rate as of June 30, 2008 was 1.32%. 'T'his issuance matures through
2028 with principal amounts due May 1.
E3otlt issuances are payable from a pledge of fees, cltarges and other amounts received from the available Net
Revenue of the water enterprise. "1-he pledge of future Water Fund Revenues ends upon repayment of the $15.4
million in remaining debt service an the bonds which is scheduled to occur in 2028. For fiscal year 2008, Water
Flntd Revenues including operating revenues and non-operating interest earnings amounted to $18.4 million and
operating costs include operating expenses, but not interest, depreciation or amortizations and amounted to
$16.9 Iniliion. Net Revenues available for debt service amounted to $1.5 million rvhiclt represented coverage of
1.5 over the $1 million in debt sen+iee.
'I'lte District is required to maintain a Reserve Fund for both of these contracts in an amount equal to the
rnaximtun amtual debt service. The Reserve Fund was initially funded fron the proceeds of the lnstalhnent
I'urcltase Contl•acts in an alnotntt equal to the Reservation Fund to pay principal and interest then due, the
Trustee is required to transfer so much of the Reserve Fund as is necessary to make such payment. Any monies
on deposit in excess of the Reserve Requirement roil) be transferred to the Reservation Fulzd.
24
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DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FYNANCIAL STATEMENTS
JUNE 30, 2008
NOTr #8 -LONG-TTRh~DrBT {corrtirrrred)
D. Variable Rate Debt
The District has two debt issues with variable interest rates. The debt is subject to purchase on the demand o#•
the holder at a price equal to principal plus accrued interest and delivery to the District's remarketing agent.
The retnarketuig agent is authorized to use its hest efforts to sell the repurchased bonds ai a price equal to 100
percent of the principal amount by adjusting the interest rate, Under Stand-By Purchase Agreements issued by
banks for each variable rate debt issue, the trustee or the remarketing agent is entitled to draw an amount
suf#icient to pay the purchase price of debt delivered to it. 'fhe District is required to pay to the Banks an
initial take out agreement fee and an annual commitment fee.
I~or the Certificates of Participation 2000 Series, the District entered into an agreement with JP Morgan Chase
Bank which expires on December 11, 2008. Under the agreement, the available principal commitment is the
lesser of $55,000,000 or the outstanding balance of the COPs. The interest rate on the principle conuniUnettt is
the Bank's [J.S. prime commercial lending rate plus l%. 7•he District paid an annual fee of $41,788 to the bank
during fiscal 2007-08. Tor the WateReuse Variable Rate Financing Participation, the District entered into an
agreement with DEPFA (lt•ish Bank), which expires June 24, 2015. The District paid an annual fee of $21,307 to
dte bank during fiscal 2007-08.
District management completed a rigorous ratings process which resulted in it receiving a Standard and Poors
rating of AA- and a Moody's rating of na3 on the 2000 COPS.
1/. Repayment Schedule
Shown below are maturities for the District's debt issues, including principal and interest on the 2000 COPS
amounting to $23,615,000 and $1,180,750, respectively, reported in fisca12008-09.
i?nter-ln•ise activities
I=or ~'hc Year
tinding June 30 Principal interest Total
2UU9 $21,705,000 $1,425,423 $23,130,423
2010 710,000 414,553 t ,120,553
2011 735,000 393,909 1,}28,909
2012 760,000 376,260 1,136,260
2013 795,000 357,513 1,152,513
2014-2018 3,435,000 1,559,436 4,994,436
2019-2023 3,570,000 1,327,812 4,897,812
2024-2028 4, E 70,000 1,077,012 5,247,012
2029-2033 908,250 908,250
2034-2038 2,595,000 493,050 3,088,050
Total payments due $38,475,000 $8,329,218 $46,804,218
25
DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
NOTE #8 -LONG-TEIt~1LDE13T (co~zti~tzted)
Since the District's Stattd-By Purchase Agreement .underlying the 2000 COPS expires prior to June 30, 2009,
the balance outstanding on the 2000 COPs has been presented in the accompanying financial statements as
"Amount due within one year" and debt service on the 2000 COPS has been reported in the above table in fiscal
2008-09. District management has continued its efforts to remarket the debt. In addition management has
indicated that it anticipates tendering the 2000 COPS to tlae Stand-13y Purchase Agreement provider which when
completed would converk the 2000 COPS into Bank Certificates. Converted [3ank Certificates bear variable
interest at prune plus 2% (6.5% a! June 30, 2008) and are due in semiatmual installments over five years
commencing January 3, 2009. A matin'ity table for Converted Bank Certificates is presented below and would
replace debt service due on the 2000 COPS, when the conversion takes place.
Por The Years }:nded
June 30:
Principal Interest Total
2009 $2,361,500 $85,276 $2,446,776
2010 4,723,000 k,304,729 6,027,729
2011 4,723,000 997,734 5,720,734
2012 4,723,000 G90,739 5,413,739
2U13 1,723,000 383,744 5,106,744
2014 2,361,500 76,749 2,438,249
$23,615,000 $3,538,970 $27,153,970
Terms above consist with Stand-By Purchase Agreement covenants
Interest rate per schedule from John Archer. E-le revived from Financal Advisor.
1-). Subsequent Event: Credit 1_acility Uraws
Subsequent to June 30, 2008, financial market dU~a'ntlzl'nS and a significant tighteni~tg of credit limited the '
District's ability to remarket its variable rate debt. "I'he District's remarketing agent was unable to remarket all
of the District's outstanding variable rate debt and as a result the District drew down al its Stand-By Purcl}ase
Agreements. As of October 31, 2008, the District had drawn $2 ] ,020,000 and $12,433,878 of the 2000 COPs
and WateReuse Variable Rate Financing Participation, respectively.
NO"TE #9 -- DEFERRED REi'EeIrUE AAtD OTHER LIA13IL1I'IES 9
Deferred revenue and other liabilities for the year ended Jtme 30, 2008 totaled $11,811,723.
As of June 30, 2008, the ~~tater Fund retarded $6,817,454 fionz developers foi° fithtrc connection fee credits. ,
These amounts will be zecognized as revenue when the connections are made.
As of June 30, 2008, the Sewer Fund recorded $482,650 from developers for futt.u•e connection fee credits.
These amounts will be recognized as revenue ~vhcn the connections are made.
Sewer Fund Defe~•red revemze for the Deferred Comtection Fee Program was also recorded ut the amount of
$4,511,619 {see Note 5}. The current portion oftlzis balance at June 30, 2008 is $680,130.
26
DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
NOTF. #10 - PENSION PLAIN
A. Plan Descr~tioru
The DisU•ict's defined benefit pension plan, (Miscellaneous Plan), provides retirement and disability benefits,
annual cost of living adjustments, and death benefits to plan members and beneficiaries. 'The Miscellaneous
flan is part of'the Public Agency portion of the Califon~ia Public Employees Retirement System (CaIPERS), a
cost sharing multiple-employer plan administered by CaIPERS, which acts as a common investment and
administrative agent for paificipating public employers within the State of California. A menu- of benefit
provisions as well as other 3•equrirements is established by State statutes within the Public Employees' Retirement
I~aw. The District selects optional benefit provisions from the benefit menu by contract witl~ Ca1PERS and
adopts those benefits through local ordinance or resolution. Ca1PERS issues a separate comprehensive annual
financial report. Copies of the Call'ERS's annual financial report may be obtained from the Ca1PERS Executive
Office, 40U P Street, Sacramento, California 95814.
B. Funding Policy
' Active plan members in the Miscellaneous Plan are required to contribute 10% of their annual covered salary.
"1'he District is required to contribute the actuarially determined remaining amounts necessary to fund the
benefits for its members. The actuarial methods and assumptions used are those adopted by the Ca1PERS Board
' of Administration. The contribution requirements of the plan members are established by State statute and the
employer contribution rate is established and may be amended by Ca1PERS.
' On November Ib, 2004, the Board of Directors approved a resolution authorizing an amendment to the
contract between PERS and the Uublin San Ramon Services District. P3•ior to the amendment, the Retirement
Plan formula was 2.0% at 55. The iuew fin•mula oi'2.7% at 55 formula provides local miscellaneous members
2.7% of pay at age 55 for each year of service credited with the employer. If retirement is earlier than 55, the
percentage of final compensation decreases for each quarter of age to 2% at age 50. Former DSRSD
employees' service a•edit will not be affected by ibis change and the change became effective in November
2004,
' 'l'he District has agreed to a cost sharing with employees to implerent the new retirement formula. Ina•eased
cost on an annual basis to implement the program is approximately 7% and is spread over the next 20 years,
which is the period over which PERS allows an agency to satisfy the increased liability. The cost sharing was
negotiated with all employee bargaining groups and continues the employer-employee parntership of jointly
finding retirement bene(ts.
C. Annual Pension Cost
For fiscal year 2007-2008, the District's annual pension cost was $I,261,I97 and was equal to the. District's
required and actual contributions. The required contribution for fiscal year 2007-200$ was detetmined as part of
the June 30 200b, aehiarial valuation using the entEy age normal actuarial cost method with the contributions
determined as a percent of pay. The actuarial assumptions included (a} 7.75% investment rate of return (net of
administrative expenses); (b) projected salary increases that vary by duration of service ranging from 3.25% to
14.45% for miscellaneous members; and (c) 3.25% cost-of=living adjustment. Both (a) and (b) include an
inflation component of 3.0%. The achrarial value of Miscellaneous Plan's assets vas determined using a
technique that smoothes the affect of short-term volatility i~u the market value of investments over a hvo to five
year period depending on the size of investment gains and/or losses. Miscellaneous Plan's unfunded actuarial
accrued liability (or excess assets) is being amortized as a level percentage of projected payroll on a closed basis.
' 27
DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
NOTT #10 - PEl\rSION I'.1;.4N (cor~tifiuccl)
D. Funded Status of Plan
As required by State lase, effective July 1, 2005, the District's Miscellaneous Plan was terminated, and the
employees in this plan were required by GALI'ERS to join new State-wide pools, One of the conditions of
entry to these pools was that the District true-up any unfunded liabilities in the former Plans, either by paying
cash or by increasing its fuhu•c contribution rates through. a Side Fund offered by CALPERS. The District
satisfied its Miscellaneous Plan's unfunded liability ofi $5,392,694 by agreeing to conh•ibute that amount to
the Side Fund through an addition to its normal contribution rates over the nest 13 years.
Annual Percentage of Net
fiscal Year Pension Cost APC Pension
Ending (APC) Contributed Obligation
6/30/2008 $1,261,197 100% $ -
6/30/2007 l , 175,296 100% -
6/30/2006 I ,049,705 100% -
Audited annual financial statements are available frrnn CALPERS at P.O. 130 942709, Sacramento, CA 94229-
2709.
E. "Three Year Trend Information for Miscellaneous Plan Cost Sharing_Pool
CALPERS' latest available actuarial value {svl~ich differs from i~iarket value) and funding progress for all
members oti the cost sharing pool are set forth belosa~ at their actuarial valuation date of June 30, 2006•
Actuarial
EnUy Age
Valuation Accrued Value of
Date Liability Asset
2004 $681,517,006 $580,960,891
2005 872,346,612 729,556,809
2006 1,280,157,040 1,069,546,974
Unfunded Annual Unfunded
(Overfunded) Fliilded Covered (Overfunded)
Liability Ratio Payroll as % of Payroll
$100,556,115 85.2% $160,107,449 62.805%
142,789,803 83.6% 203,995,039 69.997%
210,610,066 $3.5% 304,898,179 69.076°/a
ND'I'E #I1- POST Et~~PLOIiLfEN7'IJEfiLTHC~IRE BE~I~EPITS
During fiscal year 2008, the District implemented the provisions of Governmental Accounting Standards
Board Statement No. 45, Accotntfitt~ rnrd Fi-rrnrcinl IZet~orlin~ h}~ Emt~lot~ers_ af•_Pvstej~tvlovntent Befte~ts
Other I%art Pensions. This Statement establishes uniform financial reporting standards for employers
providing posteinployi~ient benefits other tlsati pensions (OPEB). The provisions of this statement are
applied prospectively and do not affect prior years' financial statements. Required disclosures are
presented below.
28
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DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
NOTE #11- POST EMYLOYAgEN7'l1EALTlI CARE 13ENls'I%ITS (contitrrred)
By Board resolution and through. agreements with its labor units, the District provides certain health care
benefits for retired employees (spouse and dependents are not included} under third-party itsurance plans.
The District pays health insurance premiums for retirees up to the following maximums:
Employees avith less Employees with more
than 5 yrs of service than 5 yrs of service ~`
Retiree $478 $471
Couple 957 886
gamily 1,244 1,129
'~ District contributes more than 50% of the cap
for employees with at least l0 years of service
As of Jtme 30, 2008, approximately 55 pal~icipants were eligible to receive benefits.
Funding Policy and Actuarial Assumptions
The annual required contribution (ARC} was determined as part of a May 2008 actuarial valuation using the
entry age normal actuarial cost method. "Phis is a projected benefit cost method, which takes into account
those benefits that ahe etpected to be earned in the firtw•e as well as those already accrued. "fhe actuarial
assumptions included (a) 7.75% investment rate of retw•n, (b} 3.25% projected annual salary increase, and
(c) 5% ltealth lIlflatloll increases. 7'he actuarial methods and assurnptrons used include techniques that
smootlt the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets.
Actuarial calculations reflect along-term perspective and actuarial valuations involve estimates of the value
of reported amounts and assumptions about the probability of events far into the future. Actuarially
determined amounts are subject to revision at least biannually as results are compared to past e:cpectations
and new estimates are made about the future. The District's ~PEB unfunded actuarial accrued liability is
being amortized as a level percentage of projected payroll using a 30 year amortization period.
In accordance with the District's budget, the annual required contribution (ARC) is to be funded through
out the year as a percentage of payroll. Concurrent with implementing Statement No. 45, the District Board
passed a resolution to participate in the California Employers Retirees Benefit Trust (CERBT), an
irrevocable trust established to fiord OPEB. CEKB'1` is administered by CaIPERS, and is managed by an
appointed board not under the control of District Board. This Trust is not considered a component unit 6y
the District and has been excluded from these financial statements. Separately issued financial statements
for CERBT may be obtained from CALPERS at P.O. Boy 942709, Sacramento, CA 94229-2709.
29
NOIL' #11-POSI'EMI'LOYMENTHl.~1LTHC~IRI; BTNEFITS (ca~ttimred)
Funding Progress oral Funded Status
Generally accepted accounting principles permits contributions to be treated as OPl/B assets and deducted
from tl}e Actuarial Accrued liability when such contributions are placed in an irrevocable trust or
egtiivalei~t arrangement, During the fiscal year ended Jane 30, 2008, the District contributed the ARC
amOLII1tIElg t0 $1,673,504 to the flan which represented 16% of the $10.5 million of covered payroll. The
District also contributed additional funds to CERE3T representing funds accumulated in prior years in the
District's Internal Service Fund. As a result, the District has recorded the Net OI'EI3 Asset, representing the
difference beriveen the ARC, the amortization of the Net OPCB Asset and actual contributions, as presented
below:
Annual required contribiltion (ARC) and
Annual OPI:l3 cost $1,673,504
Contributions made;
District portions of current year premiums paid 455,671
Additonal contributions to CGR[3T 9,154,408
Total contributions 9,610,079
Contributions in excess of the ARC 7,93b,575
Nct OPLB Asset at June 30, 2007
Net OPEl3 Asset ai Jttnc 3U, 2008 $7,936,575
"1'he actuarial accrued liability (AAL) representing the present value of future benefits, included in the actuarial
study dated May, 2008, amounted to $11.17 million and was unfunded since no assets had been transferred into
CERBT as of that date. I [owever, as of June 30, 2008, the District transferred additional contributions to
CEIZB"I', which along with investment income totaled $9.6 million and reduced the unfinded actuarial accl•ued
liability.
ArO7E #12 -RISK 1bLtNAGEA~IENT ,
The District is exposed to various risks of loss related to torts: theft, damage, and destruction of assets; errors
and omissions; injuries to employees and natural disaster. The District joined togetl~er with other entities to
form the California Sanitation Risk Management District (CSRMA), a public entity risk pool currently operating
as a common risk management and insuurance program for 54 member entities. The purpose of CSRIVIA is to
spread the adverse effects of losses among the member entities and to purchase excess instn•ance as a group, ,
thereby reducing its cost. The District pays annual premiums to CSRIVfA for its general, liability, property
damage and workers compensation insurance.
CSRMA is governed by a Board composed of one representative from each member agency. The Board t
controls tlye operations of CSRMA including selection of management and approval of operating badgets, ~
independent of any influence by member entities.
1
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DUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
ArOTF, #12 -RISK A~AN.4GGMENT (Contimrect7
In addition to the primary insurance types provided for through CSRMA listed above, the District also
maintains commercial fidelit,~ bonds, a public employee dishonesty and public official bonds, to protect
against employee theft or defalcation. Settled claims for CSRMA or commercial fidelity bcntds have not
exceeded coverage in any of the past three fiscal years.
The following is a summary of the insurance policies carried by the District as of hole 30, 2008;
Company Name ~ `I•ype of Covet•age Limits t~eductibles
Pooled Liability Bodily injury and propetrty damage-
CSRMA Pooled Liability auto, e1701'S and Om1S510nS $15,750,000 $100,000
CSRMA-Garendon American
tnstlrance Company Excess liability 5,000,000 none
Pooled Insurance Program
CSRMA-Various Special farm Property 135,072,2b8 25,000
Wol•kers' Compensation Plan
CSRMA Pooled Workers' Compensation 750,000 none
CSRMA-National Union Pirc
Insurance of Pittsburgh, PA Excess workers' compensation liability Statutory 750,000
Prior to July I, 1994, tl~e District was self=insured fol• workers' compensation and will continue to be responsible
for any claims existing as of tl>at date.
Claims and judgments, including provision for claims incurred but not reported, are recorded when a loss is
deemed probable of assertion and the amount of the loss is reasonably determinable. As discussed above, tl~e
District has coverage for such claims, but it had retained the risk for tl~e deductible or uninsured portion of these
claims.
31
llUBLIN SAN RAMON SERVICES DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2008
NUTS #12 -RISK A9ANAGF,MEN""!• (Continued)
The District's liability for uninsured claims is limited to workers' compensation and general liability claims, as
discussed above, and r~vas estimated by a third party claims administrator based on prior years claims experience
as follows:
Workers' Compensation
Balance at July 1
Net change in liability for claims and
claims incurred but not reported
Claims paid
Balance at June 30
Genera] Liabilih~
Balance at July 1
Net change in liability for claims and
claims incurred but not reported
Claims paid
Balance at June 30
2008
2008
$132,155
7),799
{138,41 I}
$73,543
2007
X37,222
{11,806)
{25,416)
2007
X68,847
120,655
(57,347)
$1.32,!55
The District has not exceeded its insurance coverage limits in any of the last three years. Tl~e District liability is
included in accrued expenses on the financial statements,
RiUTT•, #13 - COMMI`I'A~ErVIS~ND CONTINGBATT I.,IABIT,ITIL'S
"fhe District put•d~ases water from the Alameda County Flood Control and Water Consen~ation Uistrict (Zone 7)
under athirty-year contract, which expires August 23, ?024. lhlder the terms of the contract, subject to various
exceptions, the District is required to purchase all of its water from 7..one 7.
•E•he Uistrict is a defendant in a number of lawsuits, which have arisen in the normal course of business. In the
opinion of the C?istrict, these actions when finally adjudicated will not have a material adverse effect on the
financial position of the Uistrict.
The District operates a Dedicated Land Disposal site upon ~a~hich the District processes biosolids produced by
the District's ~vastc~vater treatment plant. On August 8, 2007, the San Francisco Bay Regional Water Quality
Control Board issued 4~~aste Discharge Requirements, which require tl~e Uistrict to perform corrective actions
for known and reasonably foreseeable releases from the Dedicated Land Disposal site. At this time, the Regional
I3oat•d and the District expect that the most likely corrective action, if any is needed, would be related to the
potential to contaminate the groundwater supply and resulting closure and post-closure activities. The Uistrict
prepared an analysis in December 2007 to determine the estimated costs of these corrective actions which
comprise drilling rivo extraction wells and constructing a conveyance pipeline for discharge of potentially
impacted ground water into the District's collection system. The Study also included estimated costs of
operation, maintenance and mot~itot•ing of the above facilities for a ten year period after closure of the site which
is expected to occar within tl~it•ty to fifty years. Actual closure and post-closure care costs may be higher,
lower, or even not required due to inflation variances, changes in technology, or changes in State or Federal
regulations.
The present value of these closure and post clostu•e costs, discotulted at 5 percent amotmted to $620,000 as of
June. 30, 2008. 'C'he District is requited by State and federal laws and regulations to make amutal funding
contribrrtions to finance closcn•c at~d post-closure care. The District is in compliance •with these requirements for
the year ended Jtme 30, 2008 with the establishment of the fully-fiu~ded liability for this purpose.
I
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32
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SUPPI.Is'MENTARYLNFORMATION
ASSF,TS
C117r231t 35Sf1S:
Pocked cash
Pooled inrestmertts
Rfsttictcd im•estments
Accounts receivable
Intfrest receivable
Fnglloycf notes receivable
Dffftred connection fens receivable
Prepaid cxpznses
'fntal ourrent assets
Non-current assets:
Capiud assets:
Property, Plant and eyuipmeal
Less accumulated depreciation
NCt prnpzrl)•, plan) anti eyuiputrnl
Constntction in prakress
Tnlal capital a55Cts
DIIIeT aSSCIS=
Datctrd charkfs
lncesUneul in joint potccrs authorities
Net OPf - asst
Dtfclrad cnnnfctimts receivable -
lon{c tcmt
4btal olhzr assns
1btzd noncurrent assets
"total assru
1.1r1131LCCItS
Current liabilities:
Accounts payable
('mttraulorbunds and deposits
Acerurd expzltszs
;lccrucd cnlnpensaled absences
hverfst payable
Cnnt-m portion of lnny.-trnn ttebl
Deferred revenue
lbtnl vurrent liabilities
Luny; tens liabilities:
I.unl;-trnv debt
Irss current portion
ULU rrtnzdiation payable
Defzrrcd revenue
Total lonRtenn liabilities
Total Iiabililies
Nor AssETs
Invested in capital asseU.
net oFrelated debt
Restricted !'or:
Expaztsion
Dfbt sfnicz
Unrestricted
Total net assets (dzfich)
DU-LIN SAN RA,UD1 SERVICES DISTRICT
SE14'F.R OPERATIONS
CO~tdINING S'TATE1iENT OF NET ASSETS
IUNF. 3(t. 20DS
Rrldonal DSRSD Local Allocation Allocation
Server Financing ReKional Server 1947 OPEd Sorer
Total Corporation Subtotal Total Allocation Bonds Fund Tots!
$2,1'13,584 52,143,553 $453,950 $]15,385 563,026 52,775,9x8
x7,453,739 47,4 53,739 10,127,8a 6 1,x05,571 58,987, 156
$1,GD2,Raa ],602,844 $275AIp 1,878,254
3,977,735 I,GUO 3,979,335 215,4 i5 ]71,679 15,782 4,385,211
270,405 270,405 54,784 23,850 3•i9,039
3i,)S6 35,186 35,186
680,130 680,130 680,130
S,SSa 5,85x
5x,56D,779 l,G0a;l4a 56,165,223 10,854,995 292,921 275;110 1,566,229 69,096,778
123,779,992 123,779,992 43,766,525 3,450.9x2 170,997x162
27,626.575 27,026,575 1x,493,505 1,281,5x5 43,302,62.5__ ,
'
96,753,417 96,753,417 2R,772,023 2,169,397 127,69x,837
R,6.18.71q S,Lx8Jla 1,736,736 1Od35,d50
168,x02.131 !05,402,131 30,558,754 2,]69,397 138,130,287
'
650,915 680,915 - 142,276 793.191
1x,071,5SR 1x,473.558 14,071,558
6,92!,x87 6,921:187
3.831,x89
3.831;189
3.831x189 ,
17,903.U~17 650915 18.5>3,962 142,276 6.921,x87 ?5,617,775
123.365.178 650`)15 123')56.0')3 3Q,558,759 2,311,673 6,921:187 163.748.01?
177,868})S7 2,288,359 IS0,121,3iG 41;IE3,75a 292,921 2,887.083 Q429,7(6 232,8x4,740
139
0x 2
22U
82a
2,067,168 7,363 2,67x,63[ x2.05x ,
1 ,
,
669,8x6 664,R4G 36,731 706,177
73.5x3 73,543 73,5x3
237,936 237,9x6 53,229 188,782 47Q957
90,330
40,330
6,0x0
96,370 ,
2LD2U.UDU 21,020.000 195,004 21.215,000
_~ GR0,130 680,1,14 x62,656 1,162.750
3.728,633 21.117.793 2x,R•1G;12G G14,GGx 292,92] 201,0x0 25 X58,051
2,595,000 2.598,OUD 1,26U,ODD 3,875,000
620.000 620,000 620,000
3,831,x89 3,831,x89 3,831,x89
x,gSf,x89 2,595,000 7,OaG,x89 1,280,000 8,326,x89
5,180,122 23,712,793 31,892,915 GIx,GW 292,921 1,x81,Ox0 _ 3x,281,540
6
IOB.xft2.131 (22,96i,UR5) 82,x38,Ox6 30,555,759 836,673 113,833,478
30.6-11.457
1,602,8.13 30,631,x57
1,602,Sxx 2.01x,132
269370 32,b55,589
1,872,214
J3,6x2,2x7 (96,193) 33,546,OSa 8,226,199 $8,429,716 50,201,969
5169,655,835 (521,x57,x3x) SIx8,228,x01 8x0,799,090 81,106,0x3 58,429,716 $198,563,250
34
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DUDLIN Si4~7 R.41lON SL'RVICES DISTRICT
SER'EA OPL•RATIONS
CO\1RINING STATE.IIE\'TS OF RL•VEPEUL• 5 AND Ea"PENSES
.4\D CFIATGES itd FUNDA'ET ASSETS
FOR Tit E FISCAL ytiAR ENDED IUNE 30, lnn8
Local .Wocalion Allocation
$ew'er Fnantin,e Rry3onal St+str 1997 ODES Sex~er
'total C'oroorm ion Subloial Total Allocation Ronds Fund Eliminations Total
OPERATING REVENUES
N'aslen•ate[sercice char>;es 814,406,435 514,40E;138 51,657,220 $16,093,65$
Other re+-tmle3 508,792 508,792 ~ 448,98) 51,088,109 2,015,853
Total optratin}!revenues 14,915,227 I•fr915,227 2,136,204 1,038,109 15,139,340
L)PERA-PING EXPI:NSk:S
Personnel 9,788,087 4,785,087 1,253,912 3,325,758 5397,391 l 765,178
\fatenals 2,166,615 2, 166,615 56,797 123,626- 2,747,036
Coneracmal srniecs 7,778,642 593, U3 7,871,775 ]63,3 i9 881,091 TI,SU6 8,617,991 ~
Other 137,5([ 17'1,564 (7,715) 21,133 151,002
O+'erhead f. BarSea 1,721 A91 1,721,494 514,466 (2,235,960)
Drprrciation ),125,695 3,128,Gy_5 971,379 63,336 -0,}60,412
Total oprralink t~prnses 19,7[5,697 93,133 198(18 ';D ;952,185 1,821,665 65,144 397,391 25,M4,621
i
OPERATI\G INC'O\Ili (LOSS) 11,799,5'10). (93,133) ~_ 18'1) {515951) (733,559) 16F,14.1) (397,391) (G,905,D81} ~
\O\OPERAT]NG RE\rESNI;ES (EXPENSI:1 '
h,cestmenl income ],754,013 117,791 2871,307 4?9,352 )031 444,304 3,754,)91
Inlefi5t (eCpeM1Sej 11,157,020) 11,157,020) (259,627) (1,436,6-17)
Il-ossl on incrslmenl in Ilbl (3,ti3 636) 13,533 1361 (?,5}? G?6)
Gain un disv9sal of tisrd assets 14,001 41 IH)1 _ 3,DU0 17,CKr4
Total non-oocratin>; re+,enucs 1765,619) (1,039,2~G) (1,861,545) 43''35? (25Q,596) 444,301 (!,]78,7851
IRCOAtE(1-0851 UEFORE CORiR1EU"PIONS AND TRANSFERS (5,565,439} (1,132,359} (b,697,84R) (3S?,632) (733,559) (31,5,740} 46,913 (8,083,866}
Non-cash contributions 1,003,088 ],003,085
Capilxt conlribuliuns -connection fors 7,136,315 T, 136,845 739,257 7,816,102
Transfers in 6,243,993 IO,bS8,650 I%982,643 1,835,651 733,559 1,188,102 158,365 (522,707,$77} 187,746
Tfa nsFers(anl (18,535,4(?) 118,835 J63) (1,474,611) ('_.197,504) 2?,707,3T7
Chan4rs in net assets (8,670,113) 9,556,291 586,178 1,219,756 869,762 -(1,992,226) .953,070
'(07.11. \ET ASSE"1-S {DL"FICI I-i,
131iGINNINGOFYI:AIt 178,355915 f3l,013.7a) 1.17,342221 39.579,334 236,681 10,4?1,942 197,880,130
TOTAL tiE-I ASST: I'S (UIi FICf1'},
E\D OP }'EAR $169,655,335 _ (521,457,434) 51~18,228,4U1 510,799,(N)0 Sl,1CG,043 38,429,716 $195,563;!50
35
DUBLIN SAN RA1+•10N SERV[CES DISTRICT
REGIONAL 5E1irER OPERATIONS
COMBINING S'1'A1'EMENT OF NET ASSETS
JUNE 3Q, 200&
ktegional Sc++•er Regional Se+\~er Regional Sc+vcr Regional Se+eer
Enterprise RSF Replacement Expansion Total
,assns
(lrrrznt assets'
Pooled cash 5172,223 5132,796 3387,165 51;151,401 52,143,584
Pooledim'estments 4,$08,196 4,509,237 8,645,615 29,490,661 47,453,739
Restticted invesunznts
Accounts rzczivablc 3,621,660 356,075 3.977,735
hnerestreczivable 33,306 11230 52,706 168,163 270,405
Empluy~ee notzs rzceivable 35,1 RG SS,1 SG
Defined connection fees receivable 680,130 680,130
1'otaleunentassets 8,675,570 4,653,263 9,085,5!6 32,146,430 54,560,779
n'nn-currznt assets:
Capital assets:
Properly, plan) and equipment 123,779 992 123,779,992
Less acnnnnlated depreciation 27,026,575 27,026,575
\et properly, plant and equipment 96,753:117 96,753; 417
('mtsbnction in progress 4,091,277 4,557,437 x,64 x,714
'T'otal capital assz[s 4G,753,4t7 .1,091.277 4,557,437 105,402,131
Other assets:
htvestmrnt in joint potvzrs authorities I•},071.55$ 14,071,558
Det'zned connections « ceivable • long temt 3,831;189 3,$31,489
lOtAl Other 35526 1.1.071,558 3,831; 189 17,903A47
Tola]nou-cunenlassets 110,824,975 4,091,277 8,388,926 123,305,178
'I"olal assets 119,500,545 4,653.263 13,176,793 40.535,356 177.865,957
Cun~ent liabilities:
:\ecouuts payable R>2')S4 493,8.37 720..347 2.067.168
Cauractor bonds and Deposits 479,718 92:!48 97,6$0 669.x96
Accnmd e~pensa 73.513 73.513
Accrncd crnnpensated absences 221,835 5 295 6.816 237.996
Defcncd «vcnuz 680.130 (,80,130
'l'ots! cunznt liabilities 1.632.080 591,580 1,504!77.3 3,72$,633
Long unn liabilities:
D1.D roatediation psyabk 620,000 620,000
Defirrzd revenue 3,831,489 3,831,489
Total long term liabilities .620,000 3,831,489 3,831,489
Total3iabilities 2,252,080 591,580 5,336,462 7,560,122
\ET ASSETS
Invested in respites! assets, net of related debt 9b,753,417 4,091,277 4,557,437 ]05,402,131
Restricted for.
L•~pansien 30,641,457 30,641,457
Unrestricted 20,495,018 4,653,263 8,493,936 33,642,247
Totalnetasets 5117,248,465 5},653,263 512,585,213 535,198,894 $169,685,835
36
DUBLIN SAN RAMUN SERVICES DIS'1'RTC'P
REGIONAL SERVER OPERATIONS
CUMT3TNTNG STATEh~[ENTS OF REVENUES AND EXPENSES
AND CHANGES IN FUND NET ASSETS
FOR TI If F[SCAl.1'f:AR L-NDED JUNE 30, 2008
' Ol'1:RA'I'[NG REVL:NUI:S
1Vastewater sen~ire charges
Olherrevenues
Total operating rcveuttes
OPERA I1NG EX1'L•:NSES
Pc+sonncl
\4atcrials
Contractual services
Other
Overhead Charges
Depreciation
Total operating c~penses
OPERA-PING INCOME (LOSS)
NONOPT:RA"PING REVENUES (Eal'ENSE}
investment income
{Loss} on invesUnent in J I'A
Gain on disposal of capital assets
Total non-operatiug revenues
Regional Ser~•rr Regional Sco~cr Regional Se+ver Regional Sewer
1;nterprise RSF Replacement liapansion 'l'ocal
$14;10E,435 $14,406,435
508,352 $374 $6b 508,792
14,91'1,787 374 GG 14,915,227
4,544,872 98,952 141,263 4,785,087
2,119,641 46,974 2,166,615
4,314,890 672,105 2,791,647 7,778,b42
127,897 4,57E 5,096 137,564
1,617,397 43,197 60,900 1,721,494
3,125,695 3.125,695
15,850,392 865,799 2,998,90E 19,715,097
(935,605) (865,125) (2,998,840) (4,799,87U)
3(13,336 $54,724 77fi,7~18 1,614,205 2,754,013
(3,533,(136} (3,533,636)
14,004 14,004
(3.211.296) 54,724 776,748 1,614,205 (765,619}
INCOME (LOSS) t3GPORE CONTR113UTIONS nNDI-RnNtifl?RS (4,146,901) 54,724 (88.677) (1,384,635) (5,565,489}
Capital contributions-connectinnfees 7,136,845 7,13b,845
Rcsiduat egnit~ transfer 7,11.14,963 (2,681,967) (4,9G2,99b)
l'ransfcrs in 1,(181,788 4,598,539 ],937,397 96,269 8,293,993
Transfers out (6;198,539) (10,227,107) (1,809.81 G} (18,535162}
' Changes in net assets (1,318,(189) 4,653,263 {11,080,351) (924,333} (8,670,113)
ro-rut- N>v-r nSSE rS. 13EG[NNING OP YC•nR 118,567,154 23,665,567 36, 123,227 178,355,948
' -n.)Tnl. NI:-r nssr: rs, I::ND o~~ vtnR $ 117,248;165 $4,653,263 $12,585,2 13 $35, 198,894 $169,685,835
37
DU[3LIN SAN RAMON SERVICES DISTRICT
LOCAL SE~i'ER OPERATIONS
COMBINING STATEMENT OF NET ASSETS
JUNE 30, 20Q8
Lot:al Sewer Local Sewer Local Sewer Local Sewer
Enterprise RSF Replacement Expansion Total
ASSETS
Current assets:
Pooled cash $67,907 $}4,215 $2b4,4G9 $107,359 $453,950
Pooled investments 577,799 1,251,61 I 5,902,253 2,396,183 ]0,127,846
Accounts receivable 218,260 155 218,415
latrresireceivablc 5.175 1,203 34,OSR 1~t,040 54.784
'Ibtal current assets 869.~14a 1,267,031 6,200,780 2,517,737 10,854,995
Non-current assets:
Capital assets:
Property, plant and equipment 43,766,528 43,766,528
Less accumulated depreciation 14 J94,S05 14,99a,505
\cl propert?~, plant and equipment 28,772,023 28,772,023
Construction in progress 1,132,494 654,242 1,786,736
l'otai capita! assets 28,772,023 1,132,494 654,242 30,558,759
Total non-current assets 23,772,023 1,132,494 654,242 30,SSR,759
"Total assets 29,641 ~1G7 1,267,034 7,333,274 3,171,979 a1,413.754
I.lAF311.1TIF.S
Curren) liahililies:
Accounts ir~t)'ablc 12,06! 28.084 1,909 42,054
Conlraetor bonds- and deposits 34,395 2,336 36,731
Accn~ed compensated absences 30,880 S,G39 16,710 53,229
Deferred revenue 482,650 482,GS0
Told current liabilities 42.941 65,1 IS 503,605 bl~l,fib~l
Iotal liabilities 12.941 68,118 503,(105 614,664
NI:'I' ASSETS
lm~ested in capital assets, net ofrelatecl debt 28,772,023 1,132,49a 654,242 30,SS8,759
Restricted for:
Expansion 2,014,132 2,014,132
lJnresiricred 526,503 1,2b7,034 6,132,bb2 8,226,199
Total net assets $29,598,526 $1,267,03a $7,265,156 $2,b68,374 $4Q799,090
38
i~
i~
i~
OI'l;RA'rING RGVI~NUIiS
\Vaste+vaterservice charges
' Other rcvcnucs
~btal operating revenues
OPr:RATINC~ EXPENSES
Personnel
n~atcrials
Contracusa! services
Other
Overhead Charges
T}epreciation
' Total operating expenses
OPIiRA']'[N(i INCUn4L' (LOSS}
NONOPERATINti REVL'A~UI?S (EXI'LiNSI.i}
Invcsuucntincome
Clain on disposal of capital assets
'Total non-operating revenues
DUBLiN SAN RAAdON SERVICES DIS'I'RIC'I'
LOCAL 5E1VL`R OPERATIONS
COi\~IBINING STATEMENTS OF REVENUES AND EXPENSES
AND CHANGES JN FUND NET ASSETS
FOI2 7'HE FISCAL YEAR ENDED J1JNE 30, 2flflS
' NCOA4L (LOSS) BEI'URE CONTR113UTtONS nNl)'rRANSI~IiRS
Non-cash contributions
Capital contributions -connection fees
Residual equit)~ transfer
Transfers in
' Transfers (out)
Changes in net assets
1'O'fA[_ ~~E"f nSSEI"S, t3EG1N11NG Of Y6nR
Tt)rnl. nr:T nsst rs, t:rtt) or vt.ntt
i~
i~
II
i~
II
Local Scn•er Local Sever Local Se++~cr Local Sen~er
Eutcrprisc RSF Replacement Expansion Total ~
$I,b87,zzo $1,6s7,zza
21,352 $427,632 448,984 ~
I
1.748,572 427,632 2,136,204
65~},530 $76,7]6 522,69b 1,253,942
44,835 10,579 1,383 56,797
99,431 54,582 9,30b 163,319
{6,539) (32) (1,144) (7,715)
320,789 43,551 ISfl,l26 514,466
971,379 971,379
2,0841125 185,396 b82,3b7 2,952,188
(375.853} {185,396) {254,735} {815,984}
46,484 55,887 236.281 140,700 129,352
3,000 3:000
49,481 5,887 236,281 140,700 432,352
(326,369} 5,887 54,885 {114,035) (383,fi32)
1,443,488 1,443,088.
386,631 352,626 739,257
CG9,726 (548,751} (124,975}
304:1(il 1,2b 1.147 .168,559 101,487 1,835,654
(1,411,147} {108,574) ~ (454,89}} (1,474,611)
2,19.759 1,267,fl34 (51,246} (235,791} 1,219,756
29,358.767 7,3161102 2,944,165 39,579.334
$29,598,526 $1,267,434 $7,265,15b $2,b68,374 $40,799,494
I 1 ~9
UUF3LiN SAN RATION SERVICES D[STR]CT
1irA"CER OPERATIONS
CO4113JN1NG STATF:AIENT OF NL•T ASSETS
JUNE 30, 26D8
Dougherty Allocation Allocation
Water Valley WateReuse 1947 OPFB
'l'ocal Asmnt Uiss [3wtds Allocation Bonds Fund 'l'ocal
ASSETS
Current 3SSetS:
Ponlcdcash $1,051,261 53b,347 534,378 567,332 S9,293 $1,148,611
Pooled im•estmrnts 23,467,813 813,557 206,138 24,487,508
Restricted invesnnents 199,521 1,307,640 1,507,161
Accounts rcccivuhlc 3?06,957 100,180 2,315 3,309,452
interest receivable 137,550 4,708 3,448 145,756
Prepaid c~pcnses 23,250 3,416 26,666
Total current assets 28,086,352 854,612 1,342,018 17Q928 221,244 30,675,154
Noncurrent assets:
(:apital assets
Property, plant and CgillpnlCR1 112,408,000 51,550,423 113,958,423
Less aeL`llnlLllfltl'd depreciation 19,888,651 575,767 20,464,418
Nct property, plant and equipment 92,519,'s49 974,656 93,494,005
Cunsiruction in progress 13,747,15! 13,747,15!
'Total capital assets 106,2!.,6,500 974,656 107,241,156
Utber assets:
Dzl'erred charErs 199 674 199,67)
IncesOnent iu jRint pot~ers authorities 3,315.798 ?,'' 15.798
Net OPl.il3 asset 1,015,088 1,015,088
l'otalotherasscts 2,215,798 199,674 1,015,088 3,430,560
Total non-n¢rent assets 108,483,298 199,674 974,656 I ,U 15,088 I 1 D,671,71 b
'Total assets 136,568,650 854,612 1,541,692 170,928 974,656 1,236,332 141,346,870
LIAI311.ITIF.S
Current liabilities:
Accaaus payable 3,561,033 60,768 3,621,791
Cuniracwr botxls and deposits RO1,15-) 801,154
Accrued compens:ued absences 137,795 110,160 237,955
C:urrem portion of Inng-terns debt ~19QWU 440,000
Total current liabilities 4;189,972 490,000 170,928 5,150,900
Long, teen liabilities:
Iltntds payable -
Icss cumnc portion 12,895,000 i2,895,D00
Arbitrage payable 56,371 56,371
Deferred revenue 6,817;15:1 6,817,454
total lung Tenn liabilities 6,817,454 13,951,371 19,768,825
'fatal liabilities 11,307,42b 13;1.11,371 170,928 24,919,725
NL•T ASSf:TS
]messed in capital assets,
net of refaced debt lUG,ZG6,500 { 13,135,3261 974,656 94,45S,g30
Rcsirictcd 1'or:
E.~pansion _5,350,637 5,380,637
Debt sen•ice 1,251,264 1,251,269
Assessment district 854,612 854,612
Unresiricicd 13,614,087 34,378 1,236,332 14,884,797
Total net assets {deficit) 5125,261,224 5854,612 (511,899,679) 5474,656 S[,236,332 5116,427,145
as
' OPE:R:17'1N() AI:Vt:NIIES
N'astrn~atcr suvice charkcs
ii'ater salts
Olherrecenues
' 'I'ota! operatinlt rcrenues
O1'ER:ITING E)CPENSES
Personnel
Materials
Canrachm! sen•iees
Other
Or cnc~ad CharSCs
Depreciation
lblal opetntinp i~pensrs
OI'ERA'ffNG 1NCO~fE(LOSS)
NONOPERATING REVENUES (F,XPENSE)
Eureuutent inconse
Interest(espcnse!
Clain on inwsuncnt in JPA
Gain un disposal oi'ticcd assets
Tota) non-optratink rcr cnues (expenses )
DUBI-[\ SAN R~~\1ON SERVICES DISTRICT
\VATER OPERATIONS
CO\[BiNING ST ATEMENTS OF REVENUES AND FYPENSF~
AND CHANGES [N FUA'D NET ASSETS
FOR THE PEAR ENDED JUNE 34, 2046
OouFheRy Allocation Allocation
1Vater Valley WateReuse 1997 OPfiB
'total Asmnt Oist Bonds Allocatimr Bands Frmd Eliminations '1 otai
$14,082,651 514,082,681
1.388,849 $35D,747 $634,945 2,604,511
15,671,330 380 7:37 634,945 (6,687,222
4,239.047 1,942,434 $58,280 b,239,761
8.260.005 72,140 R, 332, I4S
SJ93.1(,-1 119943 $•13.534 339.084 5812 3,996,537
92.887 14,094 I Ob,9R I
1,304.753 (1,30.1.753)
2,673,318 28.456 2,701,77.1
21,763.174 •119,943 43,534 I,OG2,9y9 29,268 58,280 23,377,198
(6,091,64.1) (39,19b} (43,534) (428,054) (29,268} (58,280} (6,689 976}
1,574,819 39,083 34,316 1,038 GS,160 1,737.636
(427,460) (k92,16R) (619,628)
22D.y32 220,932
3.483 5,485
1,801136 39,081 (372,944) (188,110) GS,1G0 1,3`14,425
' 1NCOd•IE (LOSS) BL•FORE CONTRIf3UT1ONS AND'I'R:1\SFERS (4,290;408) (113) (416;178) (428,054} (217,378) 6 880 (5,345,351)
Non-cash cunlrihuliuns - 2,'168,684
Capital cantriUutirnrs • connection fees 2;116,385
Transfers in 1,049,823
'
Transfers (Dull (3,271,694 }
Clrarptes in utt assets (1,627,010}
1'OTAl. Nf:T :1SSFTS (DEFICIT),
2,468,68.1
2,416,585
785,049 428,054 1,455,699 23,225 (53,311,830)
34,378 (322,280} 3,371,830 _ _(187,7~IG)_
ill3) 402949 868,321 (292,173} (6-18,07.81
BGGINN)NG OF \'FqA 126,885.234 834,725 (12,302,428) IDb 735 1.325,507
f0I":U- NIiT :\SSETS f DI_F]('!l )-
ENDpFI'E,\R 5123?GI'_'4 SSS~i.G1? ISII-599,679) 5974.fi>G 51136,332
3 17,075,173
$116:127,145
~)
DtIB1.1N SAN Rt1A~lON SERVICES DISTRIC'T'
WATER FLNDS
COIYIBININC STATEMGN"1' OP NG~I' ASSE"I'S
-TUNE 30, 2008
Water Water Water Water
Enterprise RSF Replacement Cxpansi6n Total
ASSETS
Current assets:
Pooled cash 5195,940 S39,278 5222,947 5593,696 51,051,26!
Pooled im~estments 4,363,655 875,403 4,950,21 I 13,248,544 23,467,813
Restricted im•esunents 199,521 199,521
Accounts receivahle 3,266,510 447 3,206,957
laterestrccei+~ablc 23?56 3,315 27,408 78,571 -137,SSD
Prepaid expenses 23,250 23,350
'total current assets 7,817,611 917,99fi 5,23(1,566 14,120,174 28,08b,352
t\bn-current assets:
C.apilal iL55e15:
Pruperh~, plan) and equipment i 12.4US,ODp 112,408,060
Less accumulated depreciation 19,8SS,bS I 19,888,651
ltet properly, plant and equipment 9?.519,349 92,519,349
Construction in progress 4.138,335 9 60R,R3b 13,747,151
'fotaicupitalassets 92,519,349 4,138,325 9,608,826 IC1G,3fi6,S00
Other assets:
Investment in joint ltoleers authorities 2,075,40h 140,392 2,215,798
Total other assets 2,075,4D6 W0,392 2,215,798
Total non-current assets 94,594,755 4,138,325 9,749,318 108,482?98
"total assets 102,412,366 917,996 9,365,891 23,869,397 136,565,650
LIABII.II'IES
Currcm liabilities
Accounts payable 1,411,698 341,518 1,8D7,807 3,561,033
Contractor lxmds and deposits 553?63 29 X93 218,599 8U 1,154
Accrued compensated absences 78,1 I I 13,610 36,074 127,795
'Total current liabilities 2,043,071 384,421 2,063,48D 4,489,972
Long term liabilities:
Deferred reeenue 6,817;184 6,817,454
Tota] long term liabilities 6,817,454 6,817,454
Total liabilities 3 043 071 384,421 8,879,934 l 1,307,42b
NET ASSETS
lncested in capital assets, net nfrelated debt 92,519,349 4,135,325 9,608,826 lOb,2b6,500
Restricted Cor
Expansion 5,380,637 5,386,637
Unrestricted 7,849,946 917,996 4,546,145 13,614,087
TotaTnetassets S100,364,295 5917,99b 55,9R4,47D S14,989,~1fi3 S125,261,224
42
DUI31.1N Sr1N IZr1i\-lON SERVICES DISTRICT
1Nr\TER FUNDS
COMBINING STATEMENTS OF [tEVENUE5 AND f:XPENSES
AND CHANGES IN FUND NET ASSETS
FOR'fHE PISCA#. YEAR ENDF;D 3UNIi 30, 2005
' ~l'ater Water Water Water
Enterprise ItSI' Replacement Expattsiott Total
OPERATING REVENUES
Water sales $ t 4,482,681 $ I #,082,681
Other revenues 366,168 $482,808 $38,914 $700,959 1,588,849
-Total operating revenues 14.448,849 482,808 38,914 700,959 15,671,530
Ol'1;RA"17NG liXPl'sNSI:S
' Personnel 2,908,608 283,95! 1,046,488 4,239,047
Cvfaterials 7,666,760 357,258 235,987 8,260,005
{:ontractual services 1,7~#9; #2G 843,708 2,600,030 5,193, I G4
Other 66,857 5,788 20,242 92,887
Overhead{'barges 800,555 #58,270 345,928 !,304,753
Depreciation 2,673,318 2,673,318
-total operating expenses 15,865,524 1,648,975 4,248,b75 21,763,174
'
OPERA"PING [NCOME(LOSSI fl;#16.675) 482,808 (!,610,(}61) (3,547,716) (6,091,644)
i\4{)N{)pl:Rr1'I'ING RfiVliNUIiS (IiXPfiNSli}
Investment income
297,207
35,587
281,627
96{},398
1,574,819
Gain on investment in .1Pn 194.872 26,060 1.20.932
Gain on disposal of fixed assets 5,485 5,485
' 'total non-operating revenues (expenses} ~#97.564 35,587 281.627 986,458 1,8O1,23b
IVCOA•1L•'(LOSS)l3L-'FORt:CON'1'RI13tJ'1'[ONSANnTRA~SPf:RS (919,111) 518,395 (1,32R;t34) (2,861,2>R) (4,290,408)
' Non-cash contributions 2,468,684 2,468.684
Capital contributions -connection fens 55~I,177 1,862; #08 2,416,585
Residual equity transfer ]0.635.770 (1,080,4 3 1) (9,555,359)
'1'ransfcrs in 808,573 241,250 L049,823
'1'ranstcrsout (750,000) 131,590 (224,845) (2,115,259 (3,271,694)
Changes in net assets 11;135,343 33fi,R05 (1,270,940) (12,128,218) (1,627,010)
1'03'ALNEfASSE'f5,13E(iINNINGOFYEAR 88,933,952 581,191 10,255,410 27,117,681 #26,888,23#
'
"I"0"I'AL Nli'f A551i`I'S, IiND OF YGnR $100,369,295 $917,996 $8,984,470 $14,489; #G3 $125,261,224
r~I
I
I~ J
i
' 43
DUBLIN SAN RAt.•tON SIiKV[CL'S DIS1'R]CT
ALLOCATIONS
COA4B[NING S"1'A'1'Ei,9ENT OF NET ASSETS
JUNE 30, 2008
1997
Administrative Revenue OPEB
Cost Center Bonds Fund 'I'ottil
ASSF,TS
Current assets:
Pooled cash $182,720 $72,319 $255,039
Pooled im•estnteatts 1,611,709 1,61 ],709
Restricted imestntenls $275,410 275,410
Accounts receivable 271,859 18,097 289,956
]nterzst receivable 27,348 27,348
Prepaid Expense 9,270 9,270
"Total current assets 463,R49 275;110 1,729,473 2,46R,732
Non-current assets:
Capital assets:
Property, plant and equipment 5,001,365 5,001,3fi5
Less accuurulated depreciation 1.857,312 1,857,312
Net propergr. plant and equipment 3.141.053 3,14~I,U53
'I'ota] capital asxts 3,114.053 3.]44,053
Other assets:
Deferred charges 142,276 142,276
Net OPIil3 asset 7,936,575 7,936,57;
Total other assets 142,276 7,936,575 S,U78,851
Total non-current assets 3,286,329 7,936,575 8,078,85 ]
Total assets 163,849 3,561,739 9,666,048 13,691,636
LIABIE.ITIFS
Current liabilities:
Accuums pay~~hle 164,907 164,907
Accrued compensated absences 298,942 298,942
Interest payable 6,040 6,010
Current portion nflong-term debt 195.000 19>,000
'fohtE current liabilities 463,849 20E,040 664,889
Long term ]iahililies:
Bonds payable -
]zss cwrcnl portion 1,280,000 1,280,000
'['Dial long term liabilities 1,280,000 1,280,000
'I'otalliabilitics 463,849 ],181,040 1,944,889
NE'f ASSETS
htvested in capital assets, net of related debt 1,811,329 1,811,329
Restricted for.
Debt sen~ice 264,370 269,370
Unrestricted 9,b66,048 9,666,048
Total net assets $2,080,699 $9,666,048 $I 1,746,747
44
DUBLIN SAN RAMON SERVICES DISTRICT
ALLOCATIONS
COMBINING STATEMENTS OF RF..VENUES AND EXPENSES
AND CI-IANGFS 1N FUND NET ASSETS
FOR "I'1-IE FISCAL YEAR ENDED JUNE 30, 2{)48
OPERATING KIVI;NUI3S
Other revenues
Total operating revenues
OPERATING EXPENSES
Perso~rnel
Materials
Contractual services
Other
Overhead Charges
i)epreciation
't'otal operating expenses
OPERA"PING INCOME (LOSS)
NONOI'EItA'fING RLVLNi1ES (EXPENSE)
hwestment income
Interest expense
"total non-operating revenues (expenses)
Administrative 1997 OPEB
Cost Center Bonds Fund `t'otal
$1,723,054
,723,054
5,271,192 $455,671 5,726,863
195,766 195,766
920,175 $2,618 922,793
38,247 38,247
(3,540,713) (3,540,713)
91,794 91,794
2,884,667 94,4 ] 2 455,671 3,434,750
(],161,613) (94,412) (455,671) (1,711,696)_
13,089 $509,464 522,553
(45 I ,795) (451,795}
(438,706) 509,464 70,758
$ i ,723,054
1,723,054
INCOMI? (LOSS) B1:T'ORI: CON"I'R113U`I'IONS AND "I'RANSI'ERS {1,161,613) (533,118) 53,793 (I,b40,938)
"transfers in 1,161,613 2,270,801 181,590 3,614,004
"1'ransters out (2,519,784) {2,519,784)
Changes in net assets 1,737,683 (2,284,401) (546,718)
'I-O'I'A[.,NE`I' ASST;"!'S, BEGINNING Ol~ YEAR 343,016 1 1,950,449 12,293,465
TUTAL NET ASSETS, END OF YEAR $2,080,b99 $9,b66,048 $1 ]L746,747
45
CALIFORNIA SANITATION RISK MANAGEMENT AUTHORITY
WORKERS' COMPENSATION PROGRAM
DECLARATIONS
1. Memorandum No.: CSWC DSR 0809 1
2. Member Agency: Dublin San Ramon Services District
70S 1 Dublin Blvd.
Dublin, CA 94568
3. Effective Date: July 1, 2008 -July 1, 2009
4. Limit: $750,000 each occurrence, subject to a limit of
$750,000 each accurrence as respects liability
imposed by law for damages
5. Employers' Liability: $750,000 Bodily Injury By Accident
$750,000 Bodily Injury By Disease
6. Manual Premium: $ 234,647.
7. Ex-Mod Factor: .57
8. Deposit Premium: $ 133,749.
9. Payroll reporting and adjusting period: Annual
07/01 /2008
Date
It is agreed that this Declaration, the application and the memorandum of coverage, together with
the terms of any endorsements, and any specified sections of the 3PA Agreement or Bylaws,
constitute the entire Memorandum of Coverage.
G:\Share\clientljpa\CSRMA\Workcrs Comp\renewal\2008 - 2009 - PY 19\Policy DocumentsiCS2tMA - OS-09 - WC Daclarations.doc
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INFORMATION PAtaE
ITEM 1: Named Insured and Mailing Address
CALIFORNIA SANITATION RISK MANAGEMENT AUTHORITY
600 MONTGOMERY STREET, 9TH FL.
SAN FRANCISCO, CA 94111
ITEM 2: States {in which coverage is to apply) CA
ITEM 3: Policy Period FROM: 07/01/2008 TO 07/01/2009 t2:01 A.M. Standard Time at the
Mailing Address shown hereiri
ITEM 4; Our Limit of Indemnity
' PART ONE: WORKERS COMPENSATION
STATUTORY - Each Accident
'
U STATUTORY - Each Employee For Disease
PART TWO: EMPLOYERS LIABILITY
1, 000 , 000 - Each Accident
$1, 000, 000 - Each Employee For Disease ,
' ITEM 5: Your Retention
PART ONE: WORKERS COMPENSATION
750,000
Each Accident
_
$750,000 Each Employee For Disease
PART TWO: EMPLOYERS LIABILITY
750,000
Each Accident
y
$ 7~0 , 00'0. Each Employee For Disease
ITEM 6: Premium and Premium Computation
Estimated Total Annual Remuneration $170, 889.558
Rates Per $100 of Remuneration 0.2930
Deposit Premium $500, 706
Minimum Premium $500, 706
Premium for Certified Acts of Terrorism Coverage Under Terrorism Risk Insurance Act 2002:
$29,501 Included In Policy Premium
THIS POLICY I NCLUDES THESE ENDORSEMENTS: SEE ATTACHED SCHEDULE
' PRODUCER NAME AND ADDRESS:
ALLIANT INSURANCE SERVICES, INC.
X00 MONTGOMERY ST
L 9TH
```"'SAN FRANCISCO, CA 941 1 1-271 1
54360 10/92
( )
NATIONAL UNION POLICY NUMBER:
FIRE INSURANCE COMPANY xwc 477-07-35
OF PITTSBURGH, PA
RENIrWAL OF: .
A CAPITAL STOCK COMPANY 4644196
ADMINISTRATIVE OFFICES
70 PINE STREET, NEW YORK, N.Y. 10270-0150
EXCESS WORKERS COMPENSATION AND EMPLOYERS LIABILITY POLICY.
COUNTERSIGNED BY:
G~
(AUTHORIZED REPRESENTATIVE)
Date Issued 0]/ 18/2008J1
inici ~a~n~c ~nov
i
EVIDENCE OF COVERAGE
CALIFORNIA SANITATION RISK MANAGEMENT AUTHORITY
POOLED LIABILITY PROGRAM
MEMORANDUM No.: CSL DSRSD 0809 1
ENTITY: Dublin San Ramon Services District
MAILING ADDRESS: 7051 Dublin Blvd.
Dublin, CA 94568
COVERAGE PERIOD: From December 31, 2008 to December 31, 2009 12:01 A.M.
DEDUCTIBLES: $ 100,000 per OCCURRENCE, combined for BODILY INJURY,
PROPERTY DAMAGE and PERSONAL INJURY
$ 2,500 per OCCURRENCE for PUBLIC ENTITY ERRORS &
OMISSIONS other than EMPLOYMENT RELATED
PRACTICES
$ 25,000 per OCCURRENCE for EMPLOYMENT RELATED
PRACTICES
$ 2,500 per OCCURRENCE for AUTOMOBILE MEDICAL
PAYMENTS
$ 500,000 per OCCURRENCE for DAM FAILURE
MAXIMUM
COVERAGE LIMIT: $ 15,750,000 per OCCURRENCE, combined for BODILY INJURY,
PROPERTY DAMAGE, PERSONAL INJURY and/or
PUBLIC ENTITY ERRORS AND OMISSIONS
$ 15,750,000 per OCCURRENCE for EMPLOYMENT RELATED
PRACTICES
$ 25,000 per OCCURRENCE for AUTOMOBILE MEDICAL
PAYMENTS
$ 750,000 per OCCURRENCE for DAM FAILURE
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J
RESOLUTION NO. 6-09
RESOLUTION OF THE BOARD OF DIRECTORS OF DUBLIN SAN RAMON SERVICES
DISTRICT TO APPLY FOR THE CITY OF DUBLIN COMMUNITY
GROUP/ORGANIZATIONAL FUNDING REQUEST IN THE AMOUNT OF $25,000 TO FUND
A LOW-INCOME ASSISTANCE PROGRAM FOR DUBLIN CUSTOMERS
WHEREAS, the District would like to establish aloes-income assistance program to better
serve the community; and
WHEREAS, the District cannot fund slow-income assistance program from rate revenues
due to State regulations prohibiting one group of customers subsidizing another group; and
WHEREAS, the City of Dublin Grant provides a method of funding the low-income program
that is consistent with how many other cities fund the program through General Fund revenues; and
WHEREAS, the External Affairs Committee is recommending that the District proceed with
the application.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
DUBLIN SAN RAMON SERVICES DISTRICT, a public agency located in the counties of Alameda
and Contra Costa, California hereby approve the submittal of the attached Application, attached as
"Exhibit A," and by this reference incorporated herein, is hereby approved, and the President of this
Board and General Manager are hereby authorized and directed to execute and to attest thereto,
respectively, said amendment for and on behalf of the District.
ADOPTED by the Board of Directors of Dublin San Ramon Services District, a public
agency in the Stateof California, counties of Alameda and Contra Costa, at its regular meeting held
on the 20th day of January 2009, and passed by the following vote:
AYES: 5 -Directors Daniel J. Scannell, Richard M. Halket,
Jeffrey' G. Hansen, D.L. (Pat) Howard, Thomas W.:~~Ford
NOES: o
ABSENT: 0
Daniel J. Scannell, President
ATTEST: _ ty~ P _ ~ . - ~ CERTIFIED AS A TRUE AND CORRECT COPY OF
THE ORIGINAL ON Ffl.E AV THE OF
Nancy G. H field, Dis ~t Secretary DUBLNV SAN RAMON ~
Secretary
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JAN 2 1 2~~9
'r r
' City of Dublin
Fiscal Year 2009-2010
II
11
1'
l
Application for Funds
APPLICATION VERIFICATION
I attest that the information contained in this FY 2009-2010 grant application is accurate and that
the funds requested will not supplant any other monies secured by the organization.
Attached is a resolution, letter, or other document providing evidence that the Board of Directors
approved the application as submitted. Successful applicants are required to submit a summary
report as soon as possible after submitting the reimbursement request, but not later than August
31, 2010. Failure to submit a report will result in ineligibility for future funding.
r
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Signatures:
,~~ ~~~
Executive Director
Board President/Chairperson
~~'~
Date
~ L 'L (~ ~
D
i
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Internal Revenue Service
' Date: August 3, 2007
DUBLIN SAN RAMON SERVICE DISTRICT
7051 DUBLIN BLVD
DUBLIN CA 94568
C
Dear Sir or Madam:
Department of the Treasury
P. O. Box 2508
Cincinnati, OH 45201 w_,
,~:
.tea
Person to Contact: ~;
Mrs. Turner 17-57018 "''
Customer Service Specialist
Toll Free Telephone Number:
.877-829-5500 ~~
Federal Identification Number:
94-6050194
This is in response to your request of August 3, 2007, regarding your organization's federal tax status.
Our records indicate that your organization may be a governmental instrumentality or apolitical subdivision of
a state.
No provision of the Internal Revenue Code imposes a tax on the income of governmental units (such as states
and their political subdivisions). Therefore, it has been the position of the Service that income of governmental
units is not generally subject to federal income taxation. If, however, an entity is not itself a governmental unit
(or an "integral part" thereof), its income will, be subject to tax unless an exclusion or exemption applies.
' One exclusion is provided by section 115(1) of the Code, which excludes from gross income:
"...income derived from ... the exercise of any essential governmental function and
accruing to a State or any political subdivision thereof ..."
1
i.
Your organization's income may not be subject to tax, either because the organization is a governmental unit
(or an "integral part" thereof), or because the income is excluded under section 115. In addition, your
organization may also be eligible to receive charitable contributions, which are deductible for federal income,
estate, and gift tax purposes. Also, your organization is probably exempt from many federal excise taxes.
Your organization may obtain a letter ruling on its status under section 115 by following the procedures
specified in Rev. Proc. 2002-1 or its successor.
Your organization may also qualify for exemption from federal income tax as an organization ,described in
section 501(c)(3) of the Code. If the organization is an entity separate from the state, county, or municipal
government, and if it does not have powers or purposes inconsistent with exemption (such a~s the power to tax
or to exercise enforcement of regulatory powers), your organization would qualify under section 501(c)(3). To
apply for exemption, complete Form 1023 and pay the required user fee.
i ~
DUBLIN SAN RAMON SERVICE DISTRICT
94-6050194
-2-
Sometimes governmental units are asked to provide proof of their status as part of a grant application. If your
organization is applying for a grant from a private foundation, the foundation may be requesting certain
information from your organization because of the restrictions imposed by the Code on such foundations.. One
.such restriction imposes a tax on private foundations that make any "taxable expenditures." Under section
4945(d) and (h) of the Code, "taxable expenditures" include (1) any grant to an organization (unless excepted),
unless the foundation exercises "expenditure responsibility" with respect to the grant; and (2) any expenditure
for non-charitable purposes. Under section 4942 of the Code, private foundations must also distribute certain
amounts for charitable purposes each year-='qualifying distributions"--or incur a tax on the undistributed
amount. "Qualifying distributions" include certain amounts paid to accomplish charitable purposes.
Private foundation grants to governmental units for public or charitable purposes are not taxable expenditures
under these provisions, regardless of whether the foundation exercises "expenditure responsibility." Under
section 53.4945-5(a)(4)(ii) of the Foundation and Similar Excise Tax Regulations, expenditure responsibility is
not required for grants for charitable purposes to governmental units (as defined in section 170(c)(1) of the
code). Similarly; grants to governmental units for public purposes are "qualifying distributions", under section
53.4942(a}-3(a) of the regulations; and, if they are for charitable purposes, will not be taxable expenditures,
under section 53.4945-6(a) of the regulations. Most grants to governmental -units will qualify as being for
charitable (as well as public} purposes.
Because of these restrictions, some private foundations require grant applicants to submit a letter from the
Service determining them to be exempt under section 501(c)(3) and classified as anon-private foundation.
Such a letter, or an underlying requirement that a grantee be a public charity, is not legally required to be
relieved from the restrictions described above, when the prospective grantee is a governmental unit and the
grant is for qualifying (public or charitable) purposes.
We believe this general information will be of assistance to your organization. This letter, however, is not a
ruling and may not be relied on as such. If you have any questions, please call us at the telephone number
shown in the heading of this letter.
Sincerely,
.~~
Michele M. Sullivan, Oper. Mgr.
Accounts Management Operations 1
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