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I
CITY OF POWAY
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FORTHE`YEAR ENDED NNE 30, 1999
1
1'
Prepared by:
f Department of Administrative Services
Warren H. Shafer
Director
Andrew R. White
Finance Manager
CITY OF POWAY
Comprehensive Annual Financial°Rdport
For the Year Ended June 30 4999
TABLE OF CONTENTS
PAGE
1 INTRODUCTORY SECTION
Title. ,., . .... ....................... ............................................................................................. i
Tableof Contents ..............:......................................................:...... ............................... iii
Principal a Officials .......................................................................... ............................... vi
Organization Chart .....:..:.....:.... vii
Letter of Transmittal ix
GFOA Certificate of Achievement for Excellence
in Financial Reporting .......:.::..................................................... ............................... xxii
CSMFO Certificate of Award for Outstanding Financial Reporting xxiii
FINANCIAL SECTION
Independent Auditors' Report ......................................................... ............................... 3
Required: Supplementary Information ( Unaudited) ......................... ............................... 48
Combining. and Individual Fund and Account Group Financial
Statements and Schedules (Supplementary Information):
General,.
C omparative Balance Sheets ..........................:......:.:............. .........................I..... 52
�• Statement of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual ................................... ............................... 53
iii
Co_ mbined Financial' Statements ( "Liftable General Purpose; Financial Statements"):
Combined Balance Sheet - All Fund Types and Account Groups ............................
4
Combined. Statement of Revenues, Expenditures, and'
Changes in Fund Balances- All Governmental Fund Types
and Expendable Trust Funds ................................................. ...............................
8
.�
Combined Statement of-Revenues, Expenditures, and
Changes in Fund Balances - Budget and Actual - General,
Special Revenue and Debt Service Funds ...... ,.....................................................
10
Combined Statement of Revenues, Expenses, and Changes
in Retained Earnings - All Proprietary Fund Types
and Similar Trust Funds ...................................:......:....:......... ...............................
12
Combined. Statement of Cash Flows - All Proprietary Fund Types
and Similar Trust; Funds ......................................................... ...............................
14
Notes''to Financial ; Statements .................................................... ...............................
18
Required: Supplementary Information ( Unaudited) ......................... ............................... 48
Combining. and Individual Fund and Account Group Financial
Statements and Schedules (Supplementary Information):
General,.
C omparative Balance Sheets ..........................:......:.:............. .........................I..... 52
�• Statement of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual ................................... ............................... 53
iii
�.J
CITY OF POWAY
Comprehensive Annual Financial Report
For the Year Ended June 30, 1999
TABLE OF CONTENTS
FINANCIAL SECTION (Continued)
PAGE
Special Revenue Funds:
Combining Balance Sheet ..................................................... ............................... 58
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances ..•...•.•
Statement of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual:
Fire Protection
.............................................................. ..............................:
800 MHZ Communication Systems ............................. .............................:.
Gas Tax Fund ...... ...............................
.......................... ...............................
Street Improvement Fund .......................................... ............................... . .
Drainage Fund ...........................
................................... ...............................
Maintenance District 83 -1 Fund
Miscellaneous and Grants Fund
Community Development Block Grant.Fund..,..
.......... ...............................
T ransportation Development Act Fund .... ................ • •. • •..........................;,;
PropositionA Fund ....................................................................... .......................................... ...............................
Royal Mobilehome Park Administration Fund ............. ...............................
Low and Moderate Income Housing Fund..... •... •. • .. ............. •.. •.... •
Debt Service Funds:
62
65
66
67
68
69
70
71
72
73
74
75
76
Combining' Balance Sheet ...................................................... ...............................
78
Combining Statement of Revenues, Expenditures, and
Changes Fund Balances ..............::....:........................... ......................I........
79
Statement of Revenues, Expenditures, , and Changes in
Fund Balance - Budget and Actual:
93
Cityof Poway Fund ........................................................ ...............
I............. 80
City of Poway Redevelopment Agency Fund ............... ...............................
81
Capital Projects Funds:
100
Combining Balance Sheet ...........
.......................................... ...............................
84
Combining 'Statement of Revenues, Expenditures, and
101
Changes in Fund Balances ................................................ ...............................
86
Enterprise Funds:
Combining Balance Sheet ........ :...........................................................................
90
Combining Statement of Revenues, Expenses, and
Changes, in Retained Earnings .......; ..........:....................... .............d.................
93
Combining Statement of Cash Flows .................................... .....................•.•.......
94
Internal Service Fund:
Comparative Balance Sheets ................................................. ...............................
100
Comparative Statement of Revenues, Expenses, , and
Changes in Retained Earnings .......................................... ...............................
101
Comparative Statementof Cash Flows ................................ I ...........................
102
iv
• CITY OF POWAY •
Comprehensive Annual Financial. Report
,• For the Year Ended June 30, 1999
TABLE OF CONTENTS
FINANCIAL SECTION (Continued)
Fiduciary Funds:
Combining Balance Sheet . ............................................................
' Nonexpendable Trust Funds:
Combining Statement of Revenues, Expenses, and
Changes in Fuud Balances
PAGE
106
....................................... ...............................
Combining Statement of Cash Flows ...................... ...............................
108
109
■
Expendable TrusfFunds:
'
Combining Statement of Revenues, Expenditures, and
Changes in-Fund Balances ........................................... ...............................
110
Agency Funds:
124
Combining Statement of Changes in Assets and Liabilities .............................
111
Account'Groups:
126
'
Comparative Schedule of General FixedAssets by Source ..... .........
......... 115
Schedule of General Fixed Assets by Function and Activity ... .........
......... 116
Schedule of Changesin General Fixed Assets
'
byFunction and Activity ................................................... ...............................
118
Comparative Schedule of General Long -Term Debt, ...........................................
1
STATISTICAL SECTION (Unaudited)
132
■
General Governmental Expenditures by Function -
Last Ten Fiscal'Years
122
.... ..... ...... ....................... ........ ............
General Governmental Revenues by Source - Last Ten Fiscal Years ...............
124
General Governmental Tax Revenues by Source - Last Ten FiscalYears ......
I ......... 124
Property Tax - Levies and Collections - Last Ten Fiscal Years
126
'
. ......... ...... ........
Assessed and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years . ...................................................... :. ....... :..: .................
......... 128
Property Tax Rates - Direct and Overlapping Governments -
'
Last Ten Fiscal Years ................................................................. ...............................
130
Ten Largest Taxpayers ...................................... .... .... ............ ..:....... ...............................
131
Special Assessment Collections - Last Ten Fiscal Years ................. ...............................
132
Computation of Legal Debt Margin ..................... .........
133
Ratio. of NetGeneral•Bonded Debt to Assessed Value and
'
NefBonded'Debt�PeuCapita - Last Ten Fiscal Years ................ ...............................
134
Ratio of Debt Service for General Bonded Debt to
Total General. Expenditures - Last Ten Fiscal Years ................ ...... ...............................
135
Direct;and Overla pping -Bond,Debt ..................... .......,
136
Demographic Statistics - Last Ten Fiscal Years.. ....:. ....... ...............................
137
Property Value; Construction Activity and Bank Deposits
,•
Last.Ten Fiscal Years ............ ............................... .. ......... .........
......... 138
Mi scellaneous Statistics .................................................................. ...............................
140
'
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CITY OF POWAY
City Council
LI
Mayor
Council: Mickey Cafagna
Bob.Emery
Jay Goldby
Don Higginson
Betty Rexford
Appointed Officials
City Manager James L. Bowersox
City Clerk/City Treasurer Lori A. Peoples
City Attorney Stephen `K Eckis
Administrative Personnel
Director of Administrative Services Warren Shafer
Director of Community Services Robe_ rt L. Thomas
Director of Development Services Niail S. Fritz
Director of Public Services James R. Howell
Director of Redevelopment Services Deborah A. Johnson
Director of Safety Services Mark A.: Sanchez
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CITY OF POWAY
ORGANIZATION CHART
Redevelopment
and Housing Services
Citizens
City Council
Planning Commission
Redevelopment' Agency
City Manager/
Executive Director
City Clerk/ City Couricil
Treasurer Attorney Committees
Administrative
Services
1. Personnel
2. Customer Services
3. Finance
4. Data Processing
5. Support Services
6. Risk Management
7. Capital Management
Community
Services
1. Leisure Services
2. .Lake Operations
3. Aquatics,Center
4. Performing Arts Ctr
5. Old Poway Park
6. Library
Development,
Services
1. Current Planning
2. Advance Planning
3. Building Inspection
4. Capital Projects
5. Land Development
6. Engineering Inspection
7. Traffic Engineering
Public
Services
1.
Fleet Maintenance
2.
Water Supply.
3.
Sewer Pumping &
Disposal
4.
Water Distribution
S.
Wastewater Collection
6.
Maintenance Control
7.
Street:Maiotenance
8.
Drainage, Maintenance
9.
Facilities Maintenance
10.
Trails & Open'.Space
11.
Park & Landscape
Maintenance
12.
Special District
Administration
Safety
Services
1. Fire'Suppression
2. Fire Prevention.
3. Paramedics
4. Law Enforcement
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i
I
tITY OF POWA4
MICKEY CAFAGNA, Mavor
BOB ENIERY Depui� May:u
JAY GOCDBI', Cuuncilmember.
DON HIGGINSON, Councilmemher
BETTY REXF,ORD, Connctlmemhe�
November 30, 1999
Honorable Mayor and Members of the City Council
Poway,'California
This Comprehensive Annual Financial Report (CAFR) is prepared, in.order to provide you and the
community with a comprehensive report of the financial transactions of the City of Poway as of and for
the year ended June M, 1999. Responsibility'for the accuracy, completeness, and fairness of the report
rests with the City.
We believe that the data, as presented, is accurate in all material aspects; .that it is presented in.a,manner
designed to'fairly.set forth the financial position and results of operations of the City as measured by the
financial activity of:its various fund'types, and that all disclosuresnecessary to enable the reader to gain
the maximum understanding of the'City.'s financial affairs have been'iiicluded. .
The significant accounting policies of the City are described in the Notes to Financial Statements. These
accounting policies have been approved by the City's independent certified public accountants and. are
in conformance with the recommendations of the American Institute.of Certified Public Accountants
and the Governmental Accounting Standards Board.
This report is prepared following, the guidelines set forth by the Government Finance Officers
Association of the United States and Canada and the California Society of Municipal Finance Officers.
In accordance with the above - mentioned guidelines, the report is divided into three sections:
L Introductory . Section - including this letter of transmittal, the City's organizational. chart,
and the list of principal officers.
1. Financial Section - including the independent report from the City's, certified public
accountants, the combined financial statements, notes to financial statements and
supplemental statements.
3. Statistical Section - including other pertinent unaudifed financial tables and information
that',presents historical trends, demographics and miscellaneous data about the City.
' ix
City Hall.. Located at 13325 Civic Center Drive
Mailing Address: P.O. Box 789, Poway, California 92074 =0789 0 (619) 74S -6600, 695 -1400
FAX 748.1455
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Annual Financial Report
November 30, 1999
Page 2
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The Reporting Entity and Its Services
Included within the City's financial statements is the financial information of the Poway Redevelopment
Agency and the Poway Public Financing Authority. Although the entities are legally separate.from the
City, their financial operations are closely related thereto. Their activities are .includedwith the activities
of the City because the City Council serves as the Board of Directors and is able to impose its will'.on
both entities. There is, therefore, a financial benefit/burden relationship. This financial presentation is
in accordance with GASB Cod., Section 2100.
The City of Poway was incorporated December 1, 1980, under the general laws of the State of
California. The City operates under a Council-Manager form of government and provides the following
services: public safety (police and fire), community services, development services, public works,
general administrative services, and capital improvements.
The Poway Redevelopment Agency was,,establishedApril 26, 1983, pursuant to the State, of California
Health and Safety Codes, Section 33000 entitled 'ICommunity Redevelopment Law." Its purpose is to
eliminate blighted areas by encouraging the development of residential, commercial, industrial,
recreational and public facilities.
The Poway Public Financing Authority is a joint, powers authority organized pursuant to the State of
California Government Code, Section, 6500. The authority exists under a Joint. Exercise. of Power
Agreement dated October 8, 1991, between the City of Poway and the Poway Redevelopment Agency.
Its purpose is to assist in financing and refinancing projects for the benefit of the City and the Agency.
Economic Condition and'0utlook
Poway, from Indian words meaning "where the waters meet;" first gained prominence in the 1800s as
an important link in Southern California's stagecoach network. Now the City, a thriving, civic - spirited 1.
community, is located in the coastal foothills.of San Diego County just twenty miles north of downtown
San Diego and three miles east of Interstate 15.
The City of Poway flourishes with a family oriented population of 48,277 and covers 39 square miles
with elevations ranging from 450 to 2,250 feet above sea level. Poway incorporated. December 1 1980
as a full- service general law city governed by a council of five members -at -large serving, staggered four -
year terms. In 1990 the City had its first mayor directly elected by the voters.. The City absorbed
existing special districts as of February 1, 1981. Water, sewage disposal, fire, paramedic, parks and
recreation, planning and building, street maintenance, and redevelopment services, are .provided by the
City; sheriff services are contracted through the County of San Diego.
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' Annual. Financial Report
•; November 30, 1999
1 Page3
' Poway has been popularly dubbed the "City in the Country. Poway has set aside over 65 percent of
total land use as open space, nearly 3,000 acres of dedicated public open space, 345 acres of developed
parkland featuring community parks and centers, and 60 miles of riding and hiking trails. Home lots
are often larger than in mostbotherareas, with a median value of $244,318. Poway is predominately a
single - family community, and the Poway Unified School District - -a top performer in the state and
nation - -is a source of great pride, as is the fact that the City has the lowest crime rate in the county., As
' part of San Diego County, Poway has 'a relatively dry climate with frost -free temperatures over 300 days
per year, and rainfall of about 11 inches which falls principally between October and April. The average
daytime temperature in Poway is about 74 °F. The expected population at build out is approximately
55,000.
' Poway's local economy is based primarily on automobile and transportation related sales, general
merchandising, industrial park wholesale consumer products, and retail sales of food and gas. Having
the third highest median household income of $62,748 in San Diego County has helped fuel the dramatic
' increase in sales tax revenues over the past two years. An increased volume in automobile sales has led
the way; and with the continued development of the business parks, there is great potential to expand
other sectors such as business and industry and building and construction.
The year 1999 saw the continued brisk expansion of the Poway and San Diego County economy. We
estimate that the rate of activity may begin to slow in 2000, but overall land sales, construction, leasing,
' and job growth'will exceed 1999. The past year has seen the addition of almost one million square feet
of building construction in the South Poway Business Park. Jobs�have grown by 95% with more than
10,000 people now employed in-the South Poway Business Park. Construction of an additional one
million square feet of building space is anticipated in 2000. The South Poway Business Park will
continue to be a major growth center for San Diego County.
' Maior Initiatives
.For the Year: The first step of the Water Treatment Plant Upgrade was completed in the fall of 1997.
This phase of the project included new filters, upgrading all chemical systems, and installing new state -
of- the -art computer- controlled electronics. The City will complete the final step of the plant upgrade
by, replacing the floating cover on the clearwell in February 2000. The total capital budget for the water
plant upgrades is $10.7 million. During the past year, the City rehabilitated three potable water
reservoirs. In the upcoming yearan additional two reservoirs will be rehabilitated.
The City of Poway Operations Center renovation was completed at a cost of $255,000 and reopened on
May 26, 1999. Over the past 20 years, the City had outgrown the facility and decided to renovate and
' add additional space.
xi
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Annual Financial Report
November 30,.1999
Page 4
The construction of the Gregg Street Reclaimed Water Reservoir was completed in 1998 at a cost of
$1.95 million. The City gained a new prestressed concrete tank for potable water and the conversion
of the existing Gregg Street potable reservoir to a reclaimed water reservoir. This reservoir acts as the
terminus of reclaimed water pumped from the City of San Diego to be used throughout the South Poway
Business Park in Poway. The completion of this reservoir will allow the delivery of reclaimed water,
which has been a 12 -year goal for the City of Poway. Currently, the City has 44 connections that deliver
200 acre -feet of reclaimed water. In the next year, the City anticipates an additional 200 connections
that will deliver an additional 300 acre -feet of reclaimed water to the business park.
During fiscal year 1998 -99, the City completed $1.1 million of street maintenance including overlay of
arterials and sealing and repairing residential streets throughout the City. As part of this project, the City
repaired 52 concrete areas at a cost of $100,000. The City also completed the Espola Road Widening
project located in the vicinity of Bridlewood and Old Coach. Espola Road has now been widened to its
full width of four lanes for approximately 5,000 feet. This project was completed within the approved
budget.
During 1999, the City received $203,624 from the Community Development Block Grant Program
which was applied toward a housing service program, public street pedestrian ramps, the housing
rehabilitation program, and renovations to City facilities for compliance with the Americans with
Disabilities Act of 1990.
For the Future The outlook for fiscal year 1999 -00 is another year of major capital improvements
constructed by the City and the completion of several of the projects listed above. The City will be
widening Community Road from Hilleary Park to Poway Road. This construction project includes
completing an asphalt overlay from Poway Road to Twin Peaks Road. The budget for this project is
approximately $1.26 million. This project is part of the City's street maintenance program, the purpose
of which is to improve arterial and residential roadways. The City will be master - planning the
improvements for Pomerado Road between Poway Road and Ted Williams Parkway which will lead to
the ultimate reconstruction and full width improvements of Pomerado Road. The total cost is $6.8
million for this segment of roadway with a potential $3.million project in 2000. The City will be
reviewing its street maintenance program and looking toward continual improvement of the arterial and
residential roadways.
The Brookview affordable senior housing development was awarded an allocation of the highly
competitive State and Federal Tax Credits this fall. The Agency will also be providing financing which
will make construction of this 102 -unit complex possible in the spring of 2000,. with completion by
summer of 2001. We also expect to complete the developer selection process for the,Breihan family
development which will include a transfer of the Agency's interest in the adjacent affordable
development, Haley Ranch Estates. An Exclusive Negotiating Agreement will be executed, and
xii
Annual Financial Report
�. November 30; 1999
Page 5
negotiations will be initiated for.a Disposition and Development Agreement with the top ranking
development team: We also expectto,initiate discussions with the owner of the Gateway site to explore
the feasibility of developing additional affordable senior units. The Agency has the funds.topurchase
additional affordable housing sites: Accordingly, we expect to initiate discussions with the owners of
the two remaining properties that have: the Affordable Housing (AH)Overlay Zone designation. Wealso
will be evaluating the potential,forestablishing a multifamily acquisition ° and rehabilitation program.
The City will also be completing Master Plans for water, sewer and drainage systems to determine a
capital needs plan and a maintenance` plan for the next ten to twenty years.
' In early 2000,.the City will be remodeling the Weingart Senior Center - kitchen, with a project budget of
$180;960, and undertaking its extensive 1999 -2000 facilities maintenance program.
Accounting System and Budgetary Control
The City's accounting records for governmental fund types, the expendable trust fund, and the agency
funds are maintained on the modified accrual basis of accounting. The modifications to the accrual basis
of accounting are described in the Notes to Financial Statements. The accounting records for- proprietary
funds (water, and sewer) and the nonexpendable trust fund are - maintained on the full accrual basis of
accounting. Accordingly, revenues are recognized in the accounting period earned, and expenses; are
recognized the period incurred:
In developing and evaluating the City's accounting system, consideration is given_to the adequacy of
internal accounting controls. Intemal, accounting controls are designed to provide reasonable, but not
absolute, assurance regarding (1) the safeguarding of assets against .loss from unauthorized use or
disposition, and (2) the reliability of financial records for preparing financial statements and maintaining
accountability of assets. The conceptof reasonable assurance recognizes that the cost of a control should
not exceed the benefits likely t6 be derived. The evaluation of Yhis cost benefit relationship requires
estimates and judgments by management..
All' internal controlevaluaiions,occur within the above framework. We- believe'that the City's?intemal
accounting - controls adequately, safeguard assets and provide reasonable assurance of proper recording
of financial transactions:
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Annual Financial. Report
November 30, 1999
Page 6
Financial transactions are continuously updated in the City's computerized financial reporting: system,
and all managers have instant access to the current budget information for which they are. responsible.
These financial reports compare the budgeted figures to the recorded transactions and compute. the
resulting variance. These reports form the basis of the budgetary control system which allows for the
timely review and continuous assessment of the financial position and results of operations.
Additionally, an encumbrance system is employed as an extension of the formal budget integration. The
estimated purchase order amounts are encumbered prior to releasing the order to a vendor. Purchase
orders which would result in an overrun of balances at the functional level are normally not released
until budget transfers are approved by the City Manager or additional appropriations:are.authorized by
the City Council. Open encumbrances are reported as reservations of fund balances at year-end. The
level of budgetary control (the level on which expenditures may not legally exceed appropriations) is
the individual fund level.
Other financial reports available for management and legislative review-include monthly reports of
investments and capital improvement projects: At the. end of six months, a midyear report is distributed
which assesses the City's financial position and results of operations and projects activity for the
remainder of the fiscal year. The interim reports form the basis for the budget projections,for the
upcoming fiscal year's budget. A budget review committee consisting of five council7designatedcitizens
annually reviews the City's financial operations and budget controls. During fiscal year 1998 -99, the
City for the second time adopted a two -year budget covering fiscal years 1999 -00 and 2000 -01. 'In
addition to the traditional midyear review process, the City will complete an extensive, review process
at the end of fiscal year 1999 -00, to determine if any adjustments to the fiscal year 2000 -01 budget are
necessary.
Financial Highlights of 1998 -1999
The City continued an aggressive capital, improvement program administering 184 new or continuing
projects designed to expand and maintain the City's infrastructure. These projects were financed using
redevelopment funds, the reserves in the General Fund, and special revenue funds.
The City's investment policy is reviewed annually for changes in state regulations and is approved by
City Council. The pooled investment portfolio balance increased by $10,442,613 or 14.6 %, from the
beginning of the year to the end of the year. The portfolio's increase was due to a combination of
factors, including the receipt of $6.8 million of'bond proceeds, and higher property and sales tax
revenues related to the overall continued strength of the economy. Major changes in the City's
investment portfolio include a $3.2 million increase, in the State Local Agency' Investment Pool, a $3.2
million increase in medium -term corporate notes and asset - backed securities, and a $3.9 million increase
in U.S. government securities.
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,. Annual Financial Report '
November 30, 1999
Page 7
Since =fiscal year 1996 -97, the City has had an investment - management agreement with Metropolitan
West Securities, Inc. Metropolitan West Securities, Inc. actively monitors the portfolio and advises the
City of various investment straiegies °that assist the City in meeting its stated investment, goals of (1)
safety of principal, (2) liquidity, and (3) return on investment,
Financial Statement Analysis
General Governmental Functions
140
u
1e
Governmental fund types include General,'S,pecial Revenue; Debt Service, Capital Projects (City of
Poway, Poway Redevelopment Agency„ an(f Community;Facility_District), and Fiduciary Fund Type
Expendable Trust.
Revenues
For the 1998 -99:fiscal year revenues for governmental fund'types and the expendable trust fund totaled
$52,264,3.15 as compared to $53,192,159 fonthe prior fiscal ,year - -a decrease of $927,844. The amount
of revenue from each revenue source and the changes over the previous year are shown 'in the following
tabulation:
dx1 tl e�'
RevenueSources�FY1998
� ,�
Taxes
4P lbee 3 tit HI's.' k
99 +1
$26,047,002
P €.2 ° i
Percent "of,'r,
49.8
V i p e
Increase (Decrease)
$ 3
Licenses and Permits
262,482•
0' =5
4,664
Intergovernmental
4,678,887
9.0
(4,1:58,743)
Charges for Services
10,207,646
NJ
(377,071)
Fines and Forfeitures
210,762
0.4
124,489
Interest and Rentals
7,738,120
14.8
(504,908).
,Developer Fees
2,152,267
4:1
448,595;
Other
967,149
1.9
509
Total
$52,264;315
1 00:0
$,(927,844)
xv
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Annual Financial Report
November 30, 4 999
Page 8
Annual`Financial Report
A :pie chart depicting•the above infortnatiorris shown: below.
City Poway
Revenue Composite
FY 1998 -9999
(49.8 %)
(0.5 %)
(9:0%)
n
u
(1.9 %)
4.8 %)
m Taxes
o Licenses 8' Permits
m. Intergovermental
o Developer Fees
o charges, for Services
m Fines & Forfeitures
o Interest & Rentals
: o Other
RevenueslfromPtaxes increased by 13.1 % in 1999. The majority of the- increaseiwas attributed to an
increase in.property taxes of$2,009 sales tax.of $81i,691. ;Revenues from intergovernmental:
sources decreased 45.7 %($4,034,016)in -1999' The majoriiypf this , decrease was :relatedto,fiscal':year
1997- 98=one -time revenues'thab:did not reoccur in =fiscal; year .1998 -99: These;included prior,:year
revenues road work of approximately$2.3'million for a PrepositionA advance; and $1.4 million:for
a SB 3Wg ant from the. state. The decrease imchargesyfor.services isrelated to, the Cityhaviing received.
•less,road work reimbursement revenue than in the prior- fiscal 'year. The fines.and;forfeitures category
..increased substantially, due to change in state legislation' that?returned the.majority'of funds collected'
+for parking and trafficcitations'to Cities. The decrease in interest and rentals revenueii's related_ to the-
=GASB,31 adjustment, vhich.was necessary to mark- to- marketithe'City's investmerit:portfolio: The.
.decrease in market value, was =caused' by moves. in interest, and :not'by the credit <worthiness of the:
investments held by the City. 'Developer.fees increased due to the payment of traffic and drainage :fees,
for several..newrprojects, as well' as. for the final' payment'by. a developer<for its share of the: Scripps(_
'Poway Parkway project. Finally, increases of $96,000 for insurance.premium rebates, $32,006, for state
mandated cost reimbursements; $47,000 For federal and:state disaster reimbursements, $40;000 for the.
•repaymentof afford'abl'e housing_ improvement loans, $100,000 for a new hazardous.waste collection fee,
and $155,000 on again on.sale of land held for resale: compose the increase;in other,revenue.
xvi,
(V.4 - / 0)
(19:5 %)
' Annual Financial Report
November 30, 1999
• Page 9
Changes m the level of expenditures formajor functions of Lite Ctty over the previous year are s own
in the following tabulation:
' Expenditures
h
I
1
I
I
�
Function m
FYx98 99,�Amount-z
'.'
PercenfSof�Tota1 "
=increase (Decre ase) From x1998
t
HS
2Y°t,t1R..k4'_F`^'3'8�✓ka'
,
'+.!£d'2" Aw'#.+.�9�df93sr
t _ iGY Fin z� ".F e`:ii £t`". 1! sv .a ,x ,.
General %Government
$7,704,342
14.3
$ (54,262)
Public Safety
9,958;312.
18.4
530,091
Public Works
3,343,102
6.2
(2,692,033)
Community Services
5,266,558
9.8
344,995
Capital Expenditures
8,213,245
15.2
(12,172,537)
Debt Service:
Principal
6,072,045
--
11.2
(312,904)
----------------- - - - - --
Interest
-------- - =; - - - - --
13 082 746
------------ - - - - --
24 :2
--------------------------------
(53
-----------------------
Bond Refunding
-------------- - - - - --
185,166
-------------= = -- --
------------ - - - - --
0.3
------------ - - - - --
--------------------------------
162,753
--------------------------------
-----=----------= - - - ---
Tax Increment
-
Reimbursement
234;601
0 :4
158;483
Total
$54,060,117
100.0
$(14,088;558)
City of Poway
Expenditure. Composite
FY 1998 -1999
1 0
(18.4 %)
(6.2 %)
I
(9 %)
(1512 %)
(03%) ` °44
(11.2 %)
(0.4 %)
(14.3 %)
(24.2 %)
m General Govemmen
o2Public.Safety
m Public Works
o Community Service m Capital Expenditure
o Bond. Refinancing
m.Principal
m Tax Increment Reim
m.lnterest
Xvii
C
Annual Financial Report
.November 30, 1999
Page 10
11
Total >experidituresdecreasedby '$14,088,558. Capital expenditures decreased by "$12,172,537wth'the
:capital projectsfunds decreasing:by'$9,75 . Fiscal year.199.8 -99 continued to.see"the completion-
of various - capital'. projects, while no,,new large projects, such as the Scripps Poway,
rParkway road construction or the Water Treatment Facility upgrade, were undertaken as inprior years.
The cost for the operating departments decreased'$1;871',209, or 6.7 %'from "the prior year. During fiscal
=year.1997-98 approximately $2.8 million of additional street experiditures made due to the of
an advance "of PropositiomA funds for roadwork. This decrease was. partiallyaoffset by increases!in•
:Public Safety costs; primarily related to the, contract with the County of San Diego, for Sheriff's services,
and in to a reorganization; of the City's Poway Center for the Performing,
Arts, and having the.new City Library in operation for'the entire year.
a
ti
r General FundtSurplus ^, 1,
rq a 1F
mount�
�r(In Thousands)
€1 t R " }''
t,„'� a
wtil�
`$�T v, a F �' � ":•mk'+� � s �
�
��
< ,]'r- 'S n �a. , ,dN� .
�,
,s , t
{ "' �M � r ^C� �,
#
Y
X. T d
1`999f y1998.P
�
Change ,
a 4 ^ts , _i .R
S #e,.. =7 •,3 i;, �1' ..wm -,
ukk
Revenues.
$22,135_
$20,551
7.7
Expenditures-
20,50&
18;875
8.7
Excess,(Deficiency); of Revenues•
Over Expenditures
1,62T
;; 1,676:
-2.9
Other- Financing Sources.(Uses); Net
274•
' ' 766
-64.2
Increase, (Decrease): Fun&Balance
$1,901
•$;2;442
-22:2'
At the end of.fiscafyeai 1998-99, the fund;; balance. fi the General.Fund was:$29,660,930 cornpaied•to
, -the balance at June 30, 1998 of $27;759;728, oran increase of $1,901,202._ Included the`operatin&
*.transfers out,arepri'ncipal pay downs ofthe.1992'and.1995icertificates of participation arrmounting4o'
$730,000: fund�balarices.remain adequate;iin the major operating funds: There were,increases in,
-the general, special revenue; debt service, " "and''expendable trust4unds, and decreases in`the'capital project:
< funds:
a The general fixed assets of the!.government are those fixed assets used in the performance of,general"
governmental functions and, exclude the fixed assets accounted -for in 'the enterprise. funds:: The general
= fixed assets totaled $100,229;360asofyear -end: Depreciation of general fixed ;assets-is notrecognized`
An the accounting system. The net book'value of fixed assets presented for the water, and sewevfunds>
-includes depreciation, which Iis in accordance withi generally accepted accounting Orihciples..'Thelstated:
values: for the- assets' for the enterprise funds represent the original• cost of the assets which is
considerably,lessthan`the- present -day values.
xvnl
' Annual Financial Report
,November 30, 1999
' Page I 1
' Enterprise Operations
The City's water utility -had a net decrease in retained earnings of $272;273, which included interest
' income of.$404,846,,net operating loss of $901,296, and tax revenue of'$463,587. Total operating
revenue was $1,642,018 more than the prior year. This was due to an increase in the volume of water
sold resulting in an increase in charges for services of $1,301,806 and an increase of $319,643 for
connection fees.
The sewer utility had a net decrease in retained earnings of $710,243, which included net operating loss
' of $1,458;001 and interest income of $864,750. Total operating, revenue was $482,964 less than last
year. The decrease was planned by the utility, and rate stabilization funds were used to supplement
' operating revenues.
One financial test to verify an "enterprise fund's ability to continue operating (paying its own bills) is a
' comparison of liquid or readily available assets to liabilities which must be paid from these assets. This
comparison -- also known as the acid test ratio - -was 5.4 for the water fund (a ratio of 1.0 or greater is
usually deemed an acceptable level of liquidity for an enterprise fund).. The sewer fund's acid test ratio
is about 46.9, indicating a very liquid position for this fund.
The data used to calculate water and sewer rates do not include all of the factors present in the financial
statements. Primarily such items as depreciation and debt service that affect the financial statements are
not included in the rate calculation, and it would be misleading to infer that the rates that are established
to offset operating costs also are sufficient to offset the total expenses of these funds.
' Fiduciary Operations
The South Poway and Parkway Business Center Community Facilities, District and the High Valley
Road funds account for debt service payments which are funded through property tax assessments that
are forwarded to the fiscal agent - trustee for payment of bonds.
Cash Management
' Cash was invested primarily in the Certificatesof Deposits with savings and loan institutions and banks,
the State of California's Local Agency InvestmentFund, U. S. Government Securities and medium -term
' corporate notes. The average yield on maturing investments during fiscal year 1998 -99 remained at
5.8 %, the same as in the,prior year. Investment interest revenue on the City's general operating reserves
was $4,097,569 - -an increase of $160,532 from the previous year. This was primarily the result of an
' increase in the portfolio's average month -end balance as compared to FY 1997 -98.
xix
0
Annual Financial Report
November 30, 1999
Page 12
Debt Administration
0
At June 30, 1999, the City and the Poway Redevelopment Agency had general long -term debt
amounting to $228.4 million which is detailed in the Notes to Financial Statements. This includes
$113.7 million of tax allocation bonds, $7.9 million of tax allocation notes, $55.0 million of certificates
of participation, $43,634 contracts payable to the Cemetery District, $24.9 million in advances from
other funds, notes payable of $26.5 million „and a $330,213 obligation for a capital lease.
The Water Fund has included in long -term debt $3,167,634 of general obligation refunding bonds and
$3,008,413 of revenue bond indebtedness.
Risk Management
The City of Poway is a member of the California Joint Powers Insurance Authority, a consortium of
approximately 84 public entities. The Authority's goveming board consists of one member from each
participating entity and is responsible for the selection of management as well as budgeting and finance.
Insurance activities, are financed by charges to members, and no long -term debt has been incurred.
Actual annual premiums are determined using a retrospective method.
At June 30, 1999, for general liability, the City is self - insured for each loss to the extent of $20,000.
Losses between $20,001 and $5,000,000 are shared by the participating entities. Costs of covered claims
between $5,000,000 and $50,000,000 are paid by,reinsurance. As for workers compensation, the City
is charged for the first $50,000 of each claim. Costs between $50,001 and $500;000 are shared by the
participating entities. Costs in excess of $500,000 are paid by excess insurance purchased by the
Authority. Because of the low deductible amounts of the self - insurance program, the City does not
maintain reserves or a sinking fund for its unpaid claims and judgements. They are expended as they
occur, and the City intends to pay all of its unpaid claims and judgements from available resources.
GFOA Certificate of Achievement for
Excellence in Financial Reporting
The Government Finance Officers Association,of the United States and Canada (GFOA) has awarded
a Certificate of Achievement for Excellence in Financial Reporting to the City of Poway, California, for
its comprehensive annual financial report for the fiscal year ended June 30, 1998. In order to be awarded
a Certificate of Achievement for Excellence in Financial Reporting, a government must publish an easily
readable and efficiently organized comprehensive annual, financial report whose contents conform to
program standards. Such reports must satisfy both generally accepted accounting principles and
applicable legal requirements. A Certificate of Achievement is valid fora period of one year only. We
believe that our current report continues to conform to the Certificate of Achievement program
requirements, and we are submitting it to GFOA to determine its eligibility for the certificate.
xx
0 0
' Annual'Financial Report
November 30, 1999
' Page 13
1
CSMFO Certificate of Award for
Outstanding Financial Reporting
The California Society of Municipal Finance Officers ( CSMFO) presented the City of Poway with a
Certificate of Award for Outstanding Financial Reporting for the fiscal year ended June 30, 1998. This
award is designed to recognize cities which demonstrate superior financial reporting. The report must
meet requirements outlined in the CSMFO Awards Checklist, satisfying generally accepted accounting
principles in all material respects, and including certain statistical information. The Certificate of Award
is valid for a period of one yeat.only. We believe that our current report. continues to conform to the
Certificate of Award program requirements, and we are submitting it to the CSMFO to determine its
eligibility for the certificate.
Independent Audit
1 The Government Code of the State of California requires general law cities such as Poway to be audited
annually by independent certified public accountants selected by the City Council. This requirement
has been met and the auditors' independent report is included in this report.
Acknowledgments
1
I.
I
I
1.
Preparation of the City's Comprehensive Annual Financial Report is an undertaking of the
Administrative Services Department.. Special credit is due to Andrew White, Finance Manager; Al
Kohn, Senior Accountant; Tro Badillo and Rick Munoz, Accountants; and the staff in the Finance
Division. Their year -long hard work and dedication have made this report possible.
We should also like to Shank the City Council for their interest and support in planning and conducting
the financial operations of the City in aresponsible and progressive manner.
Respectfully submitted,
Jambs L. Bowersox
City ) Manager
c: \data \wpfl les \finance\cafr\cafr. rpt
Warren H. Shafer
Director of Administrative Services
xxl
9 0
[This page intentionally left blank]
I
Certificate of
1 Achievement
for Excellence
in Financial
Reporting
Presented'to
' City of Poway,
California
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1998
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
' Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
' standards in government accounting
and financial reporting.
' IIRO S0.
C President
' o Executive Director
' XXiii
California Society of
Municipal `f inance Officers
Certificate of Award
Outstanding Financial Reporting 1997 -98
x
x
Presented to the
City of Poway
This certificate is Issued in recognition of meeting professional standards and criteria in reporting
which reflect a high level of quality in the annual financial statements
and in the underlying accounting system from which the reports were prepared.
March 1, 1999
Chair rofcsiional'& Technical Standards Committee
Dedicated to Excellence in Municipal Financial Management
M M M M M M" M! M& M� M M i M M M M
1 6 0
1
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11
I
FINANCIAL SECTION
1
The Honorable City Coon cil of
the City of Poway, California
' Independent Auditors' Report
We have audited the accompanying general purpose financial statements of the City of Poway, California, ras of and for
'
the year June 30, 1999, as listed in the table of contents. These general purpose financial istatemerits are the
respo nsib i lity of the City of Poway management. Our responsibility is;to express an opinion on these general purpose
financial statements based on our audit.
We conducted our audit in. accordance with generally accepted auditing standards and the standards applicable to
financial audits containdin: GovemmenyAudi6w Standards issued bythe Comptroller General of the`llnited States:
Those standards require that we,plan ;and.perform the audit to obtain reasonable assuran about whether the general
purpose financial statements are free of material misstatement. An audit includes examini on a test ±basis, evidence
supporting the amounts and'disclosures in the'general Purpose financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overalLgeneral
purpose financial statement presentation. We believe that our audit provides 'a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to .above preseat fairly, in all material respects, the
financial position of the City of Poway as of June 30, 1999, and the results of its operations and cash' flows of its
proprietary fund types for the year then ended inconformity with generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole:
The require supplementary information on page 48 is not a required part - of the basic financial statements but is
supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited
procedures, which consisted principally of inquiries of management regarding the methods of measurement and
presentation of the supplementary information. However, we did not audit the information and do not express an
' opinion on it. In addition, we do not provide assurance that the City is or will become year 2000 compliant die
City's year 2000 remediation efforts will be successful in whole or in part, or that parties with Which the City does
business are or will become year 2000 compliant.
. The accompanying, combi individual fund and account ;group financial statements and schedules listed as
supplementary information in the table of contents are presented for purposes of additional analysis and. are not a
required pariofthe +general purpose'financial statements of the City of Poway. The information lias; been subjected to
the auditing procedures, applie in the audit of the general purpose financial statements' and, in our opinion, is fairly
state in all material, respects in.relation to the general purpose financial statements taken as a whole. The statistical
information listed ' in table of contents was not andited by us and, accordingly, we do not express an opinion thereon.
In accordance with Government:Auditinmt Standards we have also.issued our report dated October 19, 1999, on our
consideration of the City; of Poway internal controls over financial reporting and our tests of its compliance with certain
provisions of laws regulationI contracts, and grants.
i
�� 3
1201 DOVE STREET, SUITE 680
oreland
& c ,, Ja
NEWPORT BEACH, CALIFORNIA 92660
949)22, 0025
JM CERTIFIED PUBLIC
ACCOUNTANTS
570 RANCHEROS DRIVE, SUITE 260
'
!SAN MARCOS, CA 92069
(760) 7523390
October 19, 1999
'
The Honorable City Coon cil of
the City of Poway, California
' Independent Auditors' Report
We have audited the accompanying general purpose financial statements of the City of Poway, California, ras of and for
'
the year June 30, 1999, as listed in the table of contents. These general purpose financial istatemerits are the
respo nsib i lity of the City of Poway management. Our responsibility is;to express an opinion on these general purpose
financial statements based on our audit.
We conducted our audit in. accordance with generally accepted auditing standards and the standards applicable to
financial audits containdin: GovemmenyAudi6w Standards issued bythe Comptroller General of the`llnited States:
Those standards require that we,plan ;and.perform the audit to obtain reasonable assuran about whether the general
purpose financial statements are free of material misstatement. An audit includes examini on a test ±basis, evidence
supporting the amounts and'disclosures in the'general Purpose financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overalLgeneral
purpose financial statement presentation. We believe that our audit provides 'a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to .above preseat fairly, in all material respects, the
financial position of the City of Poway as of June 30, 1999, and the results of its operations and cash' flows of its
proprietary fund types for the year then ended inconformity with generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole:
The require supplementary information on page 48 is not a required part - of the basic financial statements but is
supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited
procedures, which consisted principally of inquiries of management regarding the methods of measurement and
presentation of the supplementary information. However, we did not audit the information and do not express an
' opinion on it. In addition, we do not provide assurance that the City is or will become year 2000 compliant die
City's year 2000 remediation efforts will be successful in whole or in part, or that parties with Which the City does
business are or will become year 2000 compliant.
. The accompanying, combi individual fund and account ;group financial statements and schedules listed as
supplementary information in the table of contents are presented for purposes of additional analysis and. are not a
required pariofthe +general purpose'financial statements of the City of Poway. The information lias; been subjected to
the auditing procedures, applie in the audit of the general purpose financial statements' and, in our opinion, is fairly
state in all material, respects in.relation to the general purpose financial statements taken as a whole. The statistical
information listed ' in table of contents was not andited by us and, accordingly, we do not express an opinion thereon.
In accordance with Government:Auditinmt Standards we have also.issued our report dated October 19, 1999, on our
consideration of the City; of Poway internal controls over financial reporting and our tests of its compliance with certain
provisions of laws regulationI contracts, and grants.
i
�� 3
' Proprietary Fiduciary Account Groups
Fund Types Fund'Type General General Totals
' Internal Trust and Fixed Long -Term (Memorandum Only)
Enterprise Service Agency Assets Debt 1999 1998
' $ 21;261,404 $ 3,088,107 $ 6,570,785 $ 81,826,182 $ 71,198,177
18,753 1,742;996 1,781,208
2,172,475 4,429,605 7,187,399 7,059,340
20,441 1,263,970 1,100,991
' 367,095 367;095
161,102 147
910,081
600 1,200
359,035 214,587
431,693 621,253
' 905,783 73,052
15,938 15,938
646,092 747,430 807,710
''. 11,138,577 32,801;934 40,434,477
188,674 188,674 208,477
474,974 2,419,564
1,421,777 1,521,777 1,532,965
1
316,036 5,753,471 20,183,234 20,532,555
3,359 3,359 6,729
13,378 13,378 13,378
' 33',052,465 $ 100,229,360 133,281,825 132,943,629
$ 17,638,708 17,638,708 9,381,741
210,791,253 210,791,253 216,745,997
' $ 70,214,237 $ 3,088,107 $ 16,793;055 $,100,229,360 $'228,429;961 $ 511,810 $ 508,370,291
(Continued)
' 5
CITY OF POWAY • 1
Combined Balance Sheet - All Fund Types and Account Groups (Continued) '
June'30, 1999
Governmental Fund Types
Liabilities. Equity: and Other Credits
Liabilities:
Accounts payable
Accrued liabilities
Due to other funds (Note 13)
Deposits
Due to bondholders
Deferred revenue
Payable from restricted assets:
Bonds payable,within
one year (Note 8)
Accrued liabilities
Advances from other funds
(Notes 8 and 13)
Contract payable (Note 8)
Notes payable (Note 8)
Obligations under capital
leases (Note 8)
Bonds payable (Note 8)
Tax allocation notes (Note 8)
Certificates of participation (Note 8)
Total Liabilities
Equity and Other Credits:
Contributed capital, net
Investment in general fixed assets
Retained earnings:
Reserved (Note 12)
Designated (Note 12)
Unreserved
Fund Balances:
Reserved (Note -12)
Unreserved:
Designated (Note 12)
Undesignated' (deficit)
Total Equity and
Other- Credits
Total Liabilities, Equity
and Other Credits
General
$ 1,525,208 $
977,094
65;374
Revenue Service Projects
489,044 $ 17,846 $ 118,066
52,705 24,764
130,017 129,018
23;946
20,374 36,450
1,033,847 2,111,743 307,228
2,567 1,725,987 2,129,589 639,472
1,
I
I
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17,772,142 15,710,806 17,638,708 1,228,327
11,888;788 6,922,837 301
3 11,325;831
29 .26,138,798 . 17;638,708 12;554
$ 32,228;606 $27,864,785 $ 19;768,297' $ 13,193;931.
See Accompanying Notes to Financial Statements.
I
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Proprietary. Fiduciary Account Groups
Fund Types Fund Type General General Totals
' Internal Trust and Fixed Long -Term (Memorandum.Only)
Enterprise Service Agency Assets Debt 1999 1998
' $ 1,203,153 $ 27,476 $ 1021557 $ 3,483,350 $ 4,517,255
163,470 17,479 1,235,512 1,158,914
259,035 214,587
2,252;971 2,342,291 2,355,564
9,158;480 9,158,480 9,222,131
' 56,824 984,799
520,000 520,000 500,000
94,239 94,239 915,212
' 4,429,604 $ 24,919,512 32,801,934 40,434,477
5,407 43,634 49,041 49,687
26,521,602 26,521,602 28,570,133
,.� 138,052 330,213 468,265 523,002
5,656,047 113,676,000 119,326;047 121,849,418
7,945,000 7,945,000
55,000 4000 55;000,000 .55,810,000
' 7,780,368 44;955 15;943,612 228,429,961 259,261,620 267,105,179
9,136;408 9,136,408 9,088,066
$ 100,229,360 100,229,360 99,302,238
1,698,619 3,0431152 4,741,771 4,510,634
147,042
51,598,842 51,598;842 52,429,328
858,218 53,208,201 44,470,055
18,811,926 17,407,414
' (8 , 775) 14,822;211 13,910,335
'62,433,869 3,043;152 849;443 100,229,360 252,548,719 241,265,112
$ 70,214,237 $ 3,088,107 $ 16,793,055 $ 100,229,360 $'228 ;429,961 $ 511,810,339 $ 508,370,291
7
CITY OF P:OWAY
Combined Statement of Revenues, Expenditures, an Changes in
Fund Balances - All Governmental' Fund Types and Expendable Trust Funds
For the Year Ended June 30, 1999
Revenues:
Taxes (Note 3)
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Interest and rentals
Developer fees
Other
Total Revenues
Expenditures:
Current:
General government
Public safety
Public works
Community services
Capital expenditures
Debt service:
Principal
Interest and fiscal charges
Bond issuance costs
Tax increment reimbursement
Total Expenditures
Excess (Deficiency) of
Revenues Over
Expenditures
Other Financing Sources (Uses):
Proceeds from long -term debt
Operating transfers in
Operating transfers out
Total Other Financing
Sources (Uses)
Excess (Deficiency) of
Revenues. and Other
Sources Over
Expenditures and
Other Uses
Governmental
General Revenue
$ 11
262,482
2,243,053
6,169,569
210,762
1,397,834
529,866
22,135,361
$ 526,089
2,435,834
2,254,671
Service
$ 14,199,118
i
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Capital '
Projects
$ 1
4,530,009 1,253,155
556,185
639,148
1,513,119
273,786
163;497
10;659,537 .15,452,273
4,016,207
4
222,211
5,965,482
.3,190
9;870,602
87,710
1,479,364
1,863,738
3015,074
2,251,484
1,851,542
3,449,163
2,912,540
6,072,645
13,082;746
185;'166
234,601
20,507,834
7;874,306
19,574
6
1,627,527
2,785,231
(4,122,285)
(2
1,018,596 2,861,799
(744,921) (4;130,977)
1
I
•1.
1
10;319,973
2,121,819
5,965,482
322,101
(3,906,203)
(954,872)
273,675 (1,269,178) 12;379;252' 1,489,048 ' 1
1,901,202 1,516;053 8 1 256,967 (598,164)
Fund Balances, Beginning
(Restated Note 20) 27,759;728 24,622,745 .9,381,741 13
Fund Balances, Ending $ 29,660,930 $'26,138,798 $ 17;638;708 $' 12,554,459.
See Accompanying Notes to Financial Statements.
a
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Fiduciary
Fund Type Totals
Expendable (Memorandum Only)
Trust. .1999 1998
$ 26 $ 23,021,049
262,482
4,678,887
10,207;646
210,762
7,738;120
2,152,267
967,149
257,818
8,837,630
10,584,717
86,273
8,243,028
1;703,672
457,972
' $ 937
937
I
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52,264,315 53,192,159
7,704,342
7,758,604
9;958312
9,428,221
3,343,102
6,035,135
5,266 ;558
4,921,563
8
20,385,782
6,072,045
6,384,949
13
13,135,890
185,166
22,413
234,601
76,118
54,060,117 68,148,675
' 937 (1;795;802)
(14,956,516)
12;441,792
5,865,531
10,167,978
18,879,704
(9,736,973)
(18,084,798)
12;872,797 6,660,437
937 11,076,995 (8,296,079)
10,448 74,927,285 83,223,364
$ :11,385 $ 86,004,280, _ & 74,927,285
'' 9
• CITY OF POWAY •
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual
General, Special Revenue and Debt Service Funds
For the Year Ended June 30, 1999
Revenues:
Taxes (Note 3)
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Interest and rentals
Developer fees
Other
Total Revenues
Expenditures:
Current:
General government
Public safety
Public works
Community services
Capital. expenditures
Debt service:
Principal
Interest and fiscal charges
Bond issuance costs
Tax increment reimbursement
Total Expenditures
Excess (Deficiency) of Revenues
Over Expenditures
Other Financing Sources (Uses):
Proceeds from long -term debt
Operating transfers in
Operating transfers out
Total Other.Financing Sources (Uses)
Excess (Deficiency) of Revenues
and Other Sources Over
Expenditures and Other Uses
Fund Balances, Beginning (Restated Note 20)
Fund Balances, Ending
General Fund
Variance
Favorable
Budget Actual (Unfavorable)
10,221,610 $ 11;321,795 $ 1,100,185
285,270
262,482
(22,788)
1,986,000
2,243,053
257,053
5,561,550
6,169
.608,019
78
210,762
132,362
1,079,970
1,397,834
317,864
347,950
529,866
181,916
19 22,135,361 2,574,611
4;567,024
4,291,252
275,772
10,3,70,785
9,870;602
500,183
1,608,411
1,479,364
129,047
3,201,064
3,015,074
185,990
3,061,175
1,851,542
1,209,633
1
1
1
1
•,
1
22 20,507,834 2,300,625
(3,247,709) 1,627,527 4,875,236
I
568,660
1,018,596
449,936
(740
(744,921)
(4,921)
'
(171,340)
273,675
445,015
(3,419,049)
1,901,202
5,320;251
'
27,759,728
27,759,728
$ 24 $ 29 $ 5;320;251 1
See Accompanying Notes to Financial Statements.
10 1'
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0
Special Revenue Funds
Variance
,Favorable
Budget Actual (Unfavorable)
$ 512,870 $ 526,089 $ 13,219
2,068,077
2,435,834
367,757
2,297,080
2,254,671
(42,409)
4,267,926
4,530,009
262,083
185,000
639,148
454,148
100;000
273,786
173,786
9;430;953
10;659,537
1,228, 584
292,610
222,211.
70,399
123,460
87,710
35,750
1;978,228
1,863,738
114,490
2,578,263
2,251,484
326,779
10,596,126
3,449,163'
7,146,963
15,568,687 1,874,306 7,694,381
(6,137,734) 2,785,231 8,922,965
2,556,710 2,861,799 305,089
(4,163,160) (4,130,977) 32,183
(1,606,450) (1,269;178) 337,272
(7,744,184) 1,516;053 9,260,237
24,622,745 24,622,745
$ ,16,878,561 $ 26,138,798 $ 9,260,237
0
Debt Service Funds
Variance
Favorable
Budget Actual (Unfavorable)
$ 12,783,560 $ 14,199,118 $ 1,415,558
1,263,150 1,253,155 (9,995)
14,046,710 15,452,273 1,405, 563
9,977,306
6,072,045
3;905,261
11,430,599
13,082,746
(1,652,147)
187,645
185,166
2,479
14,530,669
234,601
(234,601)
21,595,55,0
19,574,558
2,020,992
(7,548,840) (4,122 3,426,555
11,973,922
10
(1,653,949)
6
5,965,482
(202,145)
(3,610,880)
(3,906;203)
(295,323)
14,530,669
12,379,252
(2,151,417)
6,981,829 8,256,967 1,275,138
9,381,741 9,381,741
$ 16363,570 $ 17,638,708 $ 1,275,138
11
0 0
CITY OF POWAY
Combined Statement of Revenues, Expenses, and Changes in
Retained Eamings/Fund Balance - All Proprietary Fund Types and Similar Trust Funds
For the Year Ended June 30, 1999
Operating Revenues:
Charges -for services
Connection fees
Other
Total Operating Revenues
Operating Expenses:
Personnel services
Maintenance and operations
Cost of purchased water
Depreciation
Total Operating Expenses
Operating Income (Loss)
Nonoperating Revenues (Expenses):
Taxes
Interest revenue
Interest expense and fiscal agent charges
Total Nonoperating Revenues
Income Before Operating Transfers
Operating Transfers:
Transfers out
Net Income (Loss)
Depreciation on Contributed Capital
Increase (Decrease) in Retained
Earnings/Fund Balance
Retained Earnings/Fund Balance, Beginning
Residual Equity Transfer Out (Note 21)
Retained Earnings/Fund Balance, Ending
See Accompanying Notes to Financial Statements.
Proprietary Fund'Types
Internal
Enterprise Service
$ 14,269,584 $ 963,510
1,523,137
84,204 5,993
15,876,925 969,503
1,960,672
185,375
8,575,180
301,488
6,091,014
1,609,356
18,236,222
486,863
(2,359,297)
482,640
463,587
1,269,596 .143,999
(344;342)
1,388;841 143,999
(970,456) 626,639
(390,564)
(970,456) 236;075
135,332
(835,124)
54,279,927
(147,342)
$ 53,297,461
236,075
2,807,077
$ 3,043,152
12
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Fiduciary Fund
Type Totals
`Nonexpendable (Memorandum Only)
Trust Funds 1999 1998
$ 41,064
41,064
23,084
23,084
17,980
17,980
(40,441)
(22,461)
(22,461)
860,519
$ 15,233,094
1;523
131,261
16,887 492
2,146;047
8,899
6
1
18,746,169
(1
463,587
1,413;595
(344:342)
1,532
(325;837)
(431,005)
(756,842)
135,332
(621
57;947,523
(147;342)
$ 57;178;671
$ 14,429,710
1,212,676
116,012
15,758,398
2,334,573
6,914,797
4,938,989
1,507;501
15,695,860
62,538
510,795
1,932,496
(364,372)
2,079,919
2,141,457
(794,906)
1,346,551
67,491
1,414,042
57,912,172
(1,378,691)
$ 57,947,523
0
'' 13
0
•
CITY OF POWAY
Combined Statement of Cash Flows
All Proprietary Fund Types and Similar Trust Funds
For the Year Ended June 30, 1999
Net Cash Used for Non - Capital
Financing Activities 1,655,215 (390,564)
Cash Flows from Capital and Related Financing ?activities:
Interest expense.and fiscal agent charges
Principal payments on long -term borrowing
Acquisition of property, plant, and equipment
Net Cash Used for Capital and
Related Financing Activities
Cash Flows from Investing Activities:
Interest received
Net Increase (Decrease) in Cash and Cash. Equivalents
Cash and Cash Equivalents, Beginning
Cash and Cash Equivalents, Ending
See Accompanying Notes to Financial Statements.
(1,133,883)
(516,137)
(984,099)
(2;634,119)
1,269,596 143,999
(491,437) 207,350
23,490;654 .2, 880, 757
$ 22,999;217 $ 3,088,107
14
Proprietary
Fund..Types
Internal
Enterprise
Service
Cash Flows From Operating Activities:
Operating income (loss)
$ (2,359;297)
$ 482
Adjustments to reconcile operating income (loss)
to net cash provided by operating activities:
Depreciation
1,609,356
Interest income
Changes in operating assets and liabilities:
Decrease in accounts receivable
10,102
7,829
Decrease in inventories
52,298
Decrease in accounts payable
(122,130)
(40,421)
Increase (decrease) in accrued : liabilities
27,542
3,867
Net Cash Provided by (Used for)
Operating Activities
(782,129)
453;915
Cash Flows from Non-Capital Financing Activities:
Taxes
466,958
Transfers out
(390
Repayment of advances to other funds
1,188,257
Loan from other funds
Net Cash Used for Non - Capital
Financing Activities 1,655,215 (390,564)
Cash Flows from Capital and Related Financing ?activities:
Interest expense.and fiscal agent charges
Principal payments on long -term borrowing
Acquisition of property, plant, and equipment
Net Cash Used for Capital and
Related Financing Activities
Cash Flows from Investing Activities:
Interest received
Net Increase (Decrease) in Cash and Cash. Equivalents
Cash and Cash Equivalents, Beginning
Cash and Cash Equivalents, Ending
See Accompanying Notes to Financial Statements.
(1,133,883)
(516,137)
(984,099)
(2;634,119)
1,269,596 143,999
(491,437) 207,350
23,490;654 .2, 880, 757
$ 22,999;217 $ 3,088,107
14
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Fiduciary Fund
Type, Totals
Nonexpendable (Memorandum Only)
Trust 1999 1998
$ 17,980 $ (1,858,677)
$ 62,538
1,609,356
1,507,501
(41,064) (41,064)
(56,150)
17,931
514,815
52,298
48,329
(19,524) (182,675)
(229,483)
31,409
(3,875)
(42,608) (370;822) 1,843,675
(40,441)
466,958 512,488
(431,005) (794,906)
1,188,257 (3,300,000)
(3,984)
(40,441) 1,224;210 (3,586,402)
(1,133,883) (472,493)
(516 (500,206)
(984,099) (2,217,233)
(2;634,119) (3,189,932)
41,064
1,454,659
1,988,646
(41,985)
(326,072)
(2,944,013)
880,043
27,251,454
30,195,467
$ 838,058
$ 26,925,382
$ 27,251,454
(Continued)
15
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0
CITY OF POWAY
Combined Statement of Cash Flows
All Proprietary Fund Types and Similar Trust Funds (Continued)
For the Year Ended June 30, 1999
Reconciliation of Cash Equivalents to the Balance Sheet:
Total cash and invesments per the balance sheet
Total restricted assets per the balance sheet:
Cash and investments
Cash and investments with fiscal agents
Cash and Investments of Expendable
Trust and Agency Funds
Cash and Cash Equivalents at the End of Year
Noncash Investing, Capital and Financing Activities:
Proprietary Fund Types
Internal
Enterprise Service
$ 21,261,404 $ 3,088,107
1,421,777
316,036
$ 22,999,217 $ 3,088,107
The Water Enterprise Fund acquired $183,674 of fixed assets through contributed capital during the
year ended June 30, 1999. Of this amount, $147,342 was contributed by the Sewer Enterprise Fund.
See Accompanying Notes to Financial Statements.
16
1
Fiduciary Fund
' Type Totals
Nonexpendable (Memorandum Only)
Trust 1999 1998
$ 6,570,785 $ 30 $ 30,050,334
1,421,777 1,432,965
5,753,471 6 069,507 7,212,316
' (11,486,198) (11,486,198) (11,444,161)
$ 838,058 $ 26,925,382 $ 27,251,454
1
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•
1.
• CITY OF POWAY • '
Notes to Financial Statements
June 30, 1999
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES '
Description of the Reporting Entitv ,
other two entities
This report includes all fund types and account groups of the City of Poway (the "primary
government "), as well as the Poway Redevelopment Agency (Agency) and the.PowayPublic ,
Financing Authority (Authority). The Agency and the Authority meet the definition of a
"component unit ", and are presented on a "blended" basis as if they were part of the primary
government. Although they arer legally separate entities, their governing boards are
comprised of the same membership as the:City Council. The Citymay impose its will on the
Agency and the Authority, including the ability to appoint; hire, reassign or dismiss
management. There are also financial - benefit/burden relationships between ihe'City -and -the ,
The City of Poway was incorporated December 1, 1980, under the general laws of the State ,
of Califomia. The City operates under a Council- Manager form of govemment provides
the following services: public safety (police— through the County of Safi Diego —and fire), '
community services, engineering services, planning services, public works,. general
administrative services, and capital improvements.
The Poway Redevelopment. Agency was established April 26, 1983, pursuant to the State of • 1
California Health and Safety Codes, Section 33000 entitled "Community. Redevelopment
Law." Its purpose is to eliminate blighted areas by encouraging the, development of '
residential, commercial, industrial, recreational and public facilities. The financial
statements of .the Redevelopment Agency can be obtained from the Poway Finance
Department located at Poway City Hall. '
The Poway Public Financing Authority'is a joint powers authority organized pursuant to the
State of California Government Code, section 6500. The authority exists under•a Joint '
Exercise of Power Agreement date&October 8, 1991, between the City of Poway and the
Poway Redevelopment Agency. Its.purpose.is to assist in financing and refinancing projects
for the benefit of the City and the Agency. Separate financial statements are not prepared for ,
the Authority
The accounting policies of the City of Poway, the Poway Redevelopment Agency and the '
Poway Public Financing Authority conform to generally accepted accounting principles as
applicable to governments. The following is'a summary of the more significant policies.
Fund Accounting
The accounts of the City are organized on the basis of funds,and account groups, each of 1
which is considered ,a separate accounting entity. The operations of each fund are accounted
for with a separate set of self - balancing accounts that comprise its assets, liabilities, fund
18
' CITY OF POWAY
Notesto Financial Statements (Continued)
June 30, 1999
' equity, revenues, andexpenditures, or expenses, as appropriate. Government resources are
allocated to and accounted for in individual funds,based upon the purposes for which they
are.to,be spent and the means by which spending ,activities`are;controlled. The various funds
are grouped, in the financial: statements in this report, into generic fund types and broad fund
categories as follows:
Governmental;Funds
' General Fund - The-General Fund is the general operating fund of the City. It is used
to account for all financial resources except:those required to be accounted for in
another fund.
Special Revenue Funds - .Special Revenue Funds are used to account for the
proceeds of specific revenue sources that are legally restricted to expenditures for
specified, purposes.
Debt Service Funds - The Debt Service Funds are used to account for the
accumulation of resources for, and the payment of principal, interest, and related costs
of the debt of the, general long -term debt account. group,.
Capital Projects Funds - Capital Projects Funds are used to account for financial
resources to be,used_for the acquisition or construction of major capital facilities (other
' than those:fmanc funds).
Proprietary Funds
' Enterprise Funds - The Enterprise Funds are used to account for operations that are
financed and operated in a manner similar to a private business enterprise - where the
' intent of the City Council is that the costs (expenses, including depreciation) of
providing :goo&or services to the general public on continuing basis be financed or
rec overed:primarilythrough user charges.
Internal Service Fund - The Internal Service Fund is used to account for activities and
service s;perfohned for other organizational, units within the City. Charges.to other city
departments are -made to support these activities.
Fiduciary Funds
Nonex endable Trust Funds - The Nonexpendable Trust Funds are used to account
for the 'resources' received from a private donor and held by the City in a trustee
capacity.: The principal gift is to be maintained intact and invested.. ;Investment
earnings are used for library and park- relatedprejects, These-funds are accounted for
' in essentially the same manner as proprietary - funds since capital maintenance is
critical.
' 19
0 CITY OF POWAY 0 1
Notes to Financial Statemen"tw(Continued)
June 30;1999
•
Expendable Trust Funds - The'Expendable Trust Funds are4ised to account for the '
resources received from private donors. The principal gifts and investment earnings
are used for beautification, projects on Poway Road. These fiinds are accounted for in
essentially the same manner as Governmental Funds.
Agency Funds - The Agency Funds are used to account for.developer deposits and '
bond deposits. These funds are custodial in nature (assets equal liabilities) and do , not
involve measurement of results of operations. ,
Fixed Assets and Long -Term' Liabilities
The accounting and reporting treatment applied to the fixed assets and tong -term liabilities t'
associated with a fund are determined by 'its, measurement focus. All govemmental;funds
are accounted for on a spending or "financial flow" 'measurement: focus. This - means that
only current assets and current liabilities.are,generally included on their balance sheets. Their
reported fund balance (net currenvassets) is considered a measure of "available,spendable
resources," Governmental funds operating statements present (revenues and other
financing sources) and decreases (expenditures and other financing uses) in net current
assets. Accordingly, they are said to present a summary of resources and'uses of "available
spendable resources" during a period. .'
Fixed assets used in governmental fund'type operations (general fixed' assets), are accounted
for in the General Fixed Assets AccounfGroup, rather than in govemmental'fands. Public '
domain ( "infrastructure ") general fixed assets consisting of certain improvements other than
buildings, including roads, bridges, curbs and gutters, streets and, sidewalks; drainage
systems, and lighting systems are not capitalized along with other general fixed`assets. No '
depreciation has been provided on general fixed assets.
All fixed assets are valued at historical cost or estimated historical cost-if actual historical ,
cost is not available. Donated'fixed•assets are valued at their estimated,fair market.value on
the date donated. The City capitalizes its fixed assets, acquired under lease, purchases or
similar contracts.
Long -term liabilities expected to be financed from govemmental'funds-are accounted for in
the General Long -Term Debt Aceount',Group, notin'the governmental funds.
The two account,groups are not " funds:" They�are concerned . only with the measurement of '
financial position. They are not involved with measurement of results of operations.
Because of'their measurement focus; expenditure recognition for governmental '
fund types is limited to exclude; amounts represented -by non- currentliabilities. Since they'do
not affect net current assets, such long -term amounts are not recognized as governmental '
fund type 'expenditures or fund liabilities. They are instead reported as liabilities in the
General Long -Term Debt Account Group.
20 1
• CITY OF POWAY •
Notes toYinancial Statements "(Continued)
June 30, 1999
The proprietary funds and nonexpendable trust fluids are accounted for on a cost of services
or "capital maintenance" measurement focus. This means that all assets and all liabilities
(whether currentor noncurrent) associated with their activities are included on their balance
sheets. The reported fluid equity (net total assets) is segregated into contributed capital and
retained eamings components. Proprietary fund type operating statements present increases
(revenues) and decreases (expenses) in net total assets.
Depreciation of all exhaustible fixed assets used by the proprietary , funds is charged as an
expense against their operations. Accumulated depreciation is provided on proprietary fund
balance sheets. Depreciation has been provided over .the "estimated useful lives using the
straight -line method. The estimated useful lives are as follows:
Distribution lines and' other than buildings 25 -100 Years
Buildings 25 Years
Machinery and equipment 5 -10 Years
Basis ofrAccounting
Basis of accounting refers to when revenues and expenditures or expenses are recognized in
the accounts and reported in the financial statements. Basis of accounting relates to the
timing of the measurements made, regardless of the measurement focus applied.
All governmental funds, the expendable.trust funds and the agency funds, are ; accounted ?for
using the modified accrual basis of accounting. Their "revenues are recognized When they
become measurable and available as net current assets.. ;Their measurementfocus is based
on flow of current financial resources. The primary revenue: sources susceptible to:accrual
are property and sales taxes, franchise fees, transient occupancy taxes, investment income,
federal entitlement,. motor vehicle fees and gas tax, subventions.
Expenditures are generally recognized under the modified .accrual basis of accounting when
the related fund liability is incurred. An exception to this general rifle is principal and
interest on general long -term debt which is recognized when due.
' The,proprietary.funds and the nonexpendable trust fiand,arei accounted for using the accrual
basis` of accounting. Their measurement focus is based on flow of economic resources.
Their revenues are recognized when earned, and expenses are recognized when they are
incurred. In 'accordance with Governmental Accounting Standards Board (GASB)
Statement No. 20, Accounting and Financial Reporting for Proprietary Funds and Other
Governmental Entities That Use Proprietary Fund Accounting, the City applies all GASB
pronouncements currently in effect as well as 'Financial. Accounting Standards Board
• Statements and Interpretations, Accounting Principals Board Opinions and Accounting
Research Bulletins of the Committee on Accounting Procedure issued on or before
November 30, 1989.
' 21
0 CT1'Y OF POWAY
Notes to Financial Statements (Continued)
June 30,1999
Budgets and Budgetary Accounting 10
The City prepares its budgets on the basi&of estimated actual expenditures and, accordingly,
the budget amounts included in the accompanying financial, statements are presented on a
basis consistent with generally accepte&accounting principles.
Each year, the City Manager submits a proposed budget to the City Council,during early
May. The City Council holds budget, hearings during May and early June. The final budget
is adopted by the City Council during late June.
No budget expenditures can be disbursed without proper appropriations. Once the budget is
adopted, no additional fund appropriations can be authorized without the Council's, approval.
The level of budgetary control (the level on which expenditures may not legally ,exceed '
appropriations) is the individual fund level. The City Manager can authorize budget
transfers between departments, without additional, appropriations. During fiscal year' 1998-
1999, supplemental budgetary appropriations were minor.
The City holds a mid -year budget review meeting. During the meeting, all the budget
expenditures are reviewed and projections for the whole year' are made. Therefore, any
necessary changes are submitted for approval by the City Council with a resolution.
Annual appropriated budgets are adopted for the general, special revenue, and debt service
funds. Budgets are adopted on a basis consistent with generally accepted accounting
principles. Budgeted amounts are as originally adopted and as further amended by the City
Council.
Unexpended and unencumbered appropriations of the governmental funds automatically
lapse at the end of the fiscal year.
Encumbrances
Encumbrance accounting, under which purchase• orders, contracts and other commitments
for the expenditure of monies are recorded in order to reserve that portion of the applicable
appropriation, is employed as an extension of formal budgetary ,integration `in the
Governmental Fund Types. Encumbrances at year end are a portion of reserved fund
balance and are reappropriated'the following year.
Investments 1
Investments'are stated at fair value, the value at which a financial instrument could be
exchanged in a current transaction between willing parties other than a•forced or'liquidaton
sale. •
22 '
• CITY OF POWAY •
' Notes'to Financial Statements (Continued)
• June 30,1999
Cash and Cash Equivalents
For purposes of the Statement of Cash Flows, the City considers all highly liquid
investments (including restricted assets) with a maturity of three months or less when
purchased to be cash equivalents. In addition, cash invested in the City's cash management
pool is considered to be cash equivalents.
Inventories
Inventories are stated at cost, computed on a first -in, first-out basis.
General fund .inventory consists of expendable supplies held for consumption, and are
' recorded as expenditures in the fiscal year consumed. This.reported inventory is offset by a
fund balance reserve to indicate that it is not available for appropriation.
Fixed Assets Held forResale
The Capital Projects Fundfixed assets held for resale are valued at lower of cost or market.
Reported fixed assets held for resale are equally offset by a fund balance reserve which
indicates that it does not constitute available spendable resources.
Compensated Absences
The City accounts for compensated absences (unpaid vacation, sick leave and compensatory
time) in accordance with GASB Cod. Sec. C60. Compensated absences are accrued as
incurred in both governmental and proprietary funds as the City intends to pay this liability as
it becomes due, from currently available financial resources. No portion of this liability is
considered to be long -term.
Comparative Data
Comparative total data for the prior year have been presented in the - ,accompanying financial
' statements, in order to provide an understanding of changes in the City's financial position
and operations. However, comparative (i.e., presentation of prior year totals by fund type)
data have not.been presented in each of the statements since.their inclusion would make the
' statements unduly complex and difficult, to read. Certain prior year amounts. have been
reclassified to conform to the current year presentation forcomparative purposes.
' Total Columns on Combined Statements
Total columns onjlie Combined Statements are captioned "Memorandum. Only" to indicate
that they are presented only to facilitate financial analysis. Data in these columns do not
present financial position,. results of operations, or cash, flows in conformity with generally
accepted accounting principles. Neither is such data comparable to a consolidation.
Interfund eliminations have not been made in the aggregation of this data
23
• CITY OF POWAY •
Notes to Financial Statements (Continued)
June 30, 1
2.
CASH AND INVESTMENTS
Cash and investments at June 30, 1999 consisted of the following:
Pooled deposits:
Demand accounts (bank balances)
Add deposit in transit
Less outstanding warrants
Book Balance
Certificates of deposit
Total Pooled Deposits
Pooled investments
Deposits and investments with fiscal agents
Total Cash and Investments
$ 1,365,390
298.000
1,663,390
81,684;569
20,183,234
103.531.193
The City follows the practice of pooling cash and.investments of all funds except for funds
required to be held by outside fiscal agents under the provisions of bond indentures.
Interest income earned on pooled cash and investments is allocated. monthly to the various
funds based on the average cash balance in each fund. Interest income from cash and
investments with fiscal agents is credited directly to the related fund.
Authorized Deoosits/Investments
Under provision of the City's investment policy, and in accordance with Section 53601 of the
California Government Code; the City may invest in the following types of investments:
Securities of the U.S. Government or its agencies.
Obligations of State or Municipal Governments.
Certificates of Deposit (or Time Deposits).
Bankers' Acceptances.
Negotiable Certificates of Deposit:
Commercial Paper.
Local Agency Investment Fund demand deposits (State pool).
County Treasury Pool.
Repurchase Agreements.
Reverse repurchase agreements
Passbook Savings Account demand deposits.
$1,399,002
103,763
( 137,375
24
' • CITY OF POWAY •
Notes to Financial Statements (Continued)
' June 30, 1999
•
Mutual-Funds.
Medium- Term Corporate Notes.
' Asset- backed Securities.
Other prudent, investments instruments,
.majority of the governing body.
Deposits/Credit Risk
approved prior to purchase by a two- thirds
The California Government Code requires California banks and savings and loan
associations to secure a City's deposits by pledging government securities as collateral. The
market value of pledged securities must equal at least 1 of a City's deposits. California
law also allows financial institutions to secure City •deposits by pledging first trust deed
mortgage.notes:having -a value of 150% of a City s total deposits.
The City may waive collateral requirements for deposits which are fully insured up to
$100,000 by Federal 'depository insurance.
1 In accordance with GASB Statement 3, deposits are classified as to credit risk by three
categories as follows:
Category 1: Insured oecollateralized with securities held by the City or by its agent in
the City's name.
Category 2: Collateralized with securities held by" the pledging financial institution's
trust department or agent in the City' I s'name.
Category 3: Uncollateralized.
Credit Risk: Canning Amount, and Fair Value of Investments
The investments that are represented by specific identifiable investment securities are
classified as to credit risk by the three categories as follows:
' Category.l .Insured or registered, or securities held by the City or its agent in the Citys
name..
Category 2: Uninsured and unregistered with securities held by the pledging financial
institution's or counterparty's trust department or agent in the City s name.
Category 3: Uninsured and unregistered with securities =held by the counterparty, or by
its trust department or agent, but not in.the City,s name.
25
• •
CITY OF POWAY
Notes to Financial Statements (Continued)
June 30,1999
Deposits were categorized as follows at June 30, 1999:
Pooled Deposits:
Demand Accounts
(Bank'Balance)
Add deposit in transit
Less outstanding warrants
Demand Accounts
(Book Balance)
Certificates of Deposit
Total Pooled Deposits
Deposits with Fiscal Agents:
Deposits (Cash)
Total Deposits
Category
1 2 3 Amount
i
!7
$108,346
$1,290,656
$1,399,002
103,763
( 137,375
200;000
98,000
1,365
298.000
308,346
1,388,656
1,663,390
$8707 87:007
Investments consisted of the following at June 30, 1999:
Pooled Investment:
U.S. Government Securities
Medium -Term Corporate
Notes
Local Agency Investment
Fund'(State Pool)"'
San Diego County Pool )
Total Pooled Investment
Investments with Fiscal Agents:
U.S. Treasury Notes
Mutual Funds
Total Investments
With Fiscal Agents
Total Investments
(1) Not subject to categorization
Gateeory Fair
1 2 3 Value
$36,866,339 $ 36,866 339
18,246,645 18
26,250,669
320 "916
55,112;984 81,684,569
$8,232,593 8,232,593
11,863;634
8,232,593 20,096,227
$55:- 112.984_ 101.780.796
26
CTTY OF POWAY
Notes to Financial Statemenfs,(Continued)
,'. June 30,1999
r c2) The management of the State of California Pooled Money Investment Account (generally
,referred to as LAIF)•has indicated to the City that as of June 30, 1999 the amortized cost
value of the pool was $36,849,505,673 and the fair value of the pool was
$36,801,515,428. Included in LAIF"s investment. portfolio are certain • derivative
securities, or similar products, in the form of structured notes totaling $1,524,350,000
t
and asset - backed, securities totaling $351,942,000. LAIF's (and the City's) exposure to
risk (credit, market -or legal);is not currently available.,
(3) At June 30, 1999,_ market value for the County Treasury Pool was $1,847,174,100. The
City's proportionate share of that value is $325,160. The County Treasury's investment
portfolio does not contain any derivatives. The County Treasury's .(and the City's)
exposure to risk (credit,:market or legal) is not currently available.
Cash and Investments with 'Fiscal Agents
' The City has monies held by trustees or fiscal agents pledged to the payment or security of
certain bonds. The California Government Code provides these monies, in the absence of
specific statutory provisions governing the issuance of bonds, may be invested in accordance
with the ordinance, resolutions or indentures-specifying the types of investments its trustees
or fiscal agents may make.
3. PROPERTY TAXES
Property taxes attach as an enforceable lien on property as of January 1. Taxes are levied on
July 1 and.are -in two installments on December 10 and April 10. The County bills
and,collecis the,property taxes and remits them to the City in installments during the year.
City property tax revenues are recognized when levied,to_the extent that they result in current
receivables in accordance with GASB Cod. Sec. P70: Property,tax receivablesare not offset
�. by deferred revenues because they are collectible within 60 days after the fiscal year end.
The County is permitted: by State Law (Proposition _13) to levy taxes at 1% of f ill.market
value (at time of purchase) and can increase the property tax rate no more than two percent
peryear. The.City.receives a share of this basic levy.
4. REFIABILITATION LOAN PROGRAM
The ;City has made various non - interest bearing loans to property owners for the
rehabilitation of property within the City. In accordance with the Affordable Housing
Rehabilitation. Loan Program, ten percent of each loan is forgiven each year on the loan
anniversary. A portion of the loans are repayable only upon the sale of the property within
• ten years of the loan. origination date or upon the death of the current property owner. Due
to the contingent repayment schedule of these loans, .the Agency records an expenditure
when a loan is made and.no receivable is included-in the financial statements. The balance
of the loans outstanding at June 30, 1999 was $686,532.
1 27
9
6.
7.
0
CITY OF POWAY
Notes to Financial Statements (Continued)
June 30,1999
RECEIVABLE UNDER OWNER PARTICIPATION AGREEMENT
In 1990, the Poway Redevelopment Agency entered into an agreement with a developer
whereby the developer is to contribute $1 to the construction of Scripps.. Poway
Parkway. $302,940 plus accrued interest is to be paid at the time of issuance of the -first
building, permits on the commercial property. The - payment of the balance°of $1,074,060 is
to be paid at the time of issuance of a building permit for each residential lot ($8 plus
accrued interest per residential "lot). hiterest isto accrue at the rate of 8 1 %4% per year to the
principal of $1,377,000 commencing on March 9, 1993. At June 30, 1999, the agreement
has been satisfied and no balance remains.
CHANGES IN GENERAL FIXED ASSETS
Changes in general fixed assets during the year ended June 30, 1999, were as follows:
Balance
July 1. 1998 Additions
Land $43,510,522
Buildings 44,217,364 $ 790,699
Improvements other
than buildings 2,882,389 248,934
Machinery and equipment 7,976,928 602,524
Construction in progress 715.035
1
LJ
I
Balance
Deletions June 301999
$ 43;510,522
45
3,131,323
8,579,452
$715.035
The beginning balance of Buildings is restated to exclude $344,626'of improvements
relating to fixed assets held for resale previously reported in the General Fixed Assets
Account Group. (See Note 20)
ENTERPRISE FILED ASSETS
A summary of proprietary fund type property, plant and equipment at June 30, 1999 follows:
Land
Buildings
Improvements other than buildings
Machinery and equipment
Construction in progress
Total
Less accumulated depreciation
Net
$ 76,797
19,489,824
36,125,038
1,431,420
1.977.499
59,100,578
(26;048:113)
33.052:465
1
11
l
I
I
M
1
r�
I
• •
CITY OF POWAY
Notes:to Financial Statements (Continued)
June 30,1999
CHANGES IN LONGTERM DEBT
General Long -Term Debt. Account Groua
The following is a'summary of the changes in the General Long -Term Debt Account Group
for the year ended June 30, 1999:
Tax Allocation Bonds
Tax Allocation Notes
Certificates of Participation
Advances from Other Funds
Contract Payable
Notes Payable
Obligations Under
Capital Leases
Total
Balance
New Debt
Debt
Balance
July 1, 1998
Incurred
Retirement
June 30, 1999
$115,685,000
$ 2 ;015,000
$113,670,000
$ 7,945;000
7,945,000
55,810;000
810,000
55,000,000
25,649,512
2121,819
2
24,919,512
44,280
646
43,634
28,570,133
2;374,973
4,423,504
26,521,602
368,813
$226:127.73 8 12:441 "792
38,600 330,213
10139.569 ' 228429961
General long -term debt consisted of the following at June 30,`1999:
Tax Allocation Bonds
1990 Tax Allocation Bonds, issued in 1990 in the amount of
$21,595,000 consisting bonds of $7,475,000 maturing from
1991 to 2000, in semi - annual installments of $295;000 to $510,000
and term bonds of $4,840,000 and $9,280,000 maturing in
2011, respectively. Interest is payable semi - annually on June 15 and
December 15 at rates ranging from 5.75% to 7.25 %.. Bonds
maturing on or after December 15, 2011 are subject to ,optional
redemption in whole or in part on any interest payment date. Bonds
'maturing on December 15, 2004 are subject to mandatory redemption
on interest;payment date from June 15, 2001 to December 15,
2004. Bonds maturing, on December 15; 2011 are ,subject to
mandatory redemption on each interest payment date from June 15,
2005to'December 15, 2011.
$15,600,000
29
• CITY OF POWAY •
Notes to Financial Statements (Continued)
June 30,.1999
1993 Tax Allocation Refunding. Bonds issued >in 1993 in the amount
of $104,710,000 consisting of $79,355,000 Fixed Rate bonds and
$25,355;000 Indexed Inverse Floating/Fixed Rate bonds. The
$79,355,000 Fixed Rate bonds consist of $9;520,000 serial bonds
maturing from 1993 to 2002 in annual in of $325,000 to
$2,810,000; term bonds of $49;035,000 maturing in 2023; and term
bonds of $20,800,000 maturing in 2026. The $25,355,000 Indexed
Inverse Floating/Fixed Rate bonds consist of $4,390,000 bonds
maturing in. 2006 scheduled to convert in '2003 to 5.22% and
$20,965,000 bonds maturing in 2014 scheduled to convert in 1999 to
5,67 %. Interest on the bonds is payable. semi-annually on June 15 and
December 15 at rates ranging from 170%to 5.75 %. Bonds maturing
on or after December 15, 2002 are subject to: optional redemption in
whole or in part on any interest date. Bonds , maturing on December
15, 2006, are subject to mandatory redemption beginning June 15,
2003. Bonds maturing on December 15,. 2014, are subject to
mandatory redemption beginning June 15, 2007. Bonds maturing on
December 15, .2023, are subject to mandatory redemption beginning
June 15, 2015. Bonds maturing on December 15 are subject to
mandatory redemption beginning June 15, 2024.
Total Tax Allocation Bonds
Tax Allocation Notes
In May 1999, the Agency issued $7,94000 of Subordinated Tax
Allocation Notes (Notes). The Notes were 'issued on a subordinate
basis to the Agency's previously issued $21,595,000 Paguay
Redevelopment Project, Tax Allocation Refunding Bonds; Series
1990A of which $15,600,000 are currently outstanding and the
Agency's $104,710,000 Paguay Redevelopment` Project, Subordinate
Tax Allocation Refunding Bonds, Series 1993 of which $98;070,000
are currently outstanding. The;Notes are;also subordinate to payments
under certain Owner Participation. Agreements and Pass- Through
Agreements. The Notes are being issued to repay certain obligations
owed by the Agency. The Notes are payable -and secured by
Pledged Tax Revenues derived from taxes levied on the property
within the Project Area The Notes may be called before maturity and
redeemed, in whole or in part, on June 15, 2000 or on any day
thereafter prior to maturity. The;Notes,will mature on December 15,
2003 and'bear interest at 4.75 %. Interest is payable semiannually on
December 15 and June 15 beginning December 1999.
Total Tax Allocation Notes
0
I
1
I
j
98,070:000 �.
$113.670A00
•, eee
1
'JI • CITY OF POWAY •
Notes to,Financial Statements '(Continued)
June 30, 1999
r Certificates ofParticiyation
' 1995 Refunding Certificates of. Participation issued. in, 1995 in the
amount of $9,315 consisting of $6,930;000 serial, certificates
maturing 'from 1996. to 2008 in annual installments of $375,000 to
$710,000 and $2.385.000;term certificates maturing in 2011. Interest
is payable semi- annually on February 1 and August 1 at rates ranging
from 4.10% to 6;07 %. * 'Certificates maturing on or after August 1,
2006 are subject to optional redemption in whole or in part;on any
interest payment datei beginning August 1, 2005. Certificates
maturing on August 1,.2011` are subject to mandatory redemptions in
part on August.l of each yearbeginning August 1, 2009:.
1995 Refunding Certificates of Participation issued in 1995 in the
amount of $31,770,000 - consisting of $3,895,000 serial • certificates
maturing from 1996 tos200 semi- annual installments; of $10,000
1 to $360,000 and term certificates of $6,335,000, $6,405 and
$15,135 maturing, in 2015,.2020 and 2028, respectively. Interest
is. payable semi - annually on.February 1 and August;l at rates ranging
from 3.65 % to 6.15 %.. Certificates maturing on or. after,February 1,
2006 are subject to optional prepayment in whole or in part on any
interest payment date on or after August 1, 2005. Certificates
maturingon August 1; 2015,2020 and 2028 are subject to;mandatory
prepayment by lot on any interest payment date beginning February 1,
2009, 2016 and,2021,,respectively.
1992 Certificates of Participation, issued in 1992 in the amount:of
$12,640,000 consisting of serial certificates of $3,265 maturing
from 1992 to 20031 in semi - annual installments of '$70,000 to
$350,000 and term certificates of $2 and $6,495,000
maturing in 2009 and 2018 respectively. Interest semi-
annually on June 1 and December 1 at rates ranging from 3.5% to
6.375%. Certificates maturing on or after December 1, ;2002 are
' subject to, optional prepayment in whole on any interest payment date
on or'afler June 1, 2002. Certificates maturing on December 1, 2009
'are subject to mandatory prepayment on each interest, payment date
from June 1, 2004 to December 1, 2009. Certificates maturing on
June, 1, 2618 are subject to mandatory prepayment on each interest
payment date `June` 1, 2010 to June 1, 2018.
31
$ 8,090,000
31,665,000
10,940,000
0 0
CITY OF POWAY
Notes to Financial Statementi (Continued)
June 30, 1999
1996 Certificates of Participation, issued in. 1996 in the. amount of
$4,375,000 consisting of serial certificates of $960,000 maturing from
1999 through 2008 in annual installments of $70,000 to $110,000 and
term certificates of $3,415,000 maturing in 2026: Interest is payable
semi - annually on February 1 and August 1 at rates ranging from 4.4%
to 5.6 %. Certificates maturing on or after August, 2008 are subject to
optional redemption in whole or'inpart, on anyFebruary 1 or August
1, on or after August 1, 2007. Certificates, maturing on August 1, 2026
are subject to mandatory redemption, without premium, on August 1,
2009 to August 1, 2026. 4,305,000
Total Certificates of Participation 55.000.000
Advances from Other Funds
The City Council authorized a loan.to the Redevelopment Agency in
the amountof'$4,859,159 at an interest rate`ranging' from 6.25% to
7.875 %. The loan is repayable ,as tax increment funds become
available to the Agency. $ 4,859,159
The City Council authorized a number of loans to the Redevelopment
Agency in the amount of $13,047,865 at various interest rates. The
terms of the loans are indefinite. Accrued interest on the loans , of
$6,830,046 is notreflected in the accompanying financial statements.
Interest is recorded when if becomes payable from available
spendable resources. 1 13,047,865
The City Council authorized a loan to the Redevelopment Agency in
the amount of $7,012,488 at interest rates: ranging from 6.5% to
8.375 %. The loan is repayable as tax increment funds become
available to the:Agency. 7.012:488
Total Advances from Other Funds 24.919.512
Contract Payable
Payable to Pomerado Cemetery Distri ct from .future,taxrevenues per
agreement between the Cemetery District and the Poway
Redevelopment. Agency dated October 23, 1984. The purpose of the.
agreement is to' alleviate any financial burdenor'detriment caused to
the District by the Redevelopment Plan. The Agency is to make
payments to the District as follows:
06
9
• CITY OF POWAY •
Notes to Financial Statements (Continued)
' • June 30, 3999
r A. For 'the first fiscal year in which the Agency receives tax
revenues at least equal to two hundred fifty dollars ($250) plus an
additional twenty percent (20 %) pursuant to Section 33334.2
of'the Health and Safety Code, the Agency shall pay to the
District the sum of two hundred fifty dollars ($250);
B. For each fiscal year during which the Redevelopment Plan
remains in effect,after the fiscal year referred to in the °preceding
paragraph A, the Agency shall pay to the District from tax
revenues an amountiqual to (i) the amount of tax revenues paid
by the Agency to the, District during the fiscal year'imrnediately
preceding the fiscal year for which the calculation being made,
multiplied by (ii) oneand seven one - hundredths (1.07).
Notes Pavable
In December 1985, the.Poway Redevelopment Agency entered into
an acquisition agreement, with CF Poway Ltd. to provide for the
construction of public improvements relating to the development of
Pomerado Business Park. The agreement provides that the Agency
will..enter into a promissory.: note with CF Poway to reimburse them
for the cost of constructing'certain public improvements. In March
1991, the Agency accepted $8;608,753 of improvements. The note
plus accrued interest at 9.375% is to be paid from excess tax
w; increment generated by the 'project as the funds become available.
In November 1990,,the Agency entered into an acquisition agreement
with Tech Business Center, LLC, (IBC) a California limited liability
company, to provide for the construction of public `improvements
relating to the 'development of the Poway Corporate' Center. The
agreement provided that the Agency would enter into :a promissory
r note with TBC to reimburse TBC for the cost of constructing certain
public improvements. In April 1993, the Agency accepted
$2;500,000 of improvements and executed a promissory, noterat 8 %.
The note plus' accrued interest was'.payable from excess tax increment
generated,by,the:development. During the fiscal.year,ended;June 30,
1 1999, Ahe agreement was amended. The amended agreement requires
the Agency to provide assistance by making payments from available
tax increment "generated by the development, to a .maximum of
$14,250,000. The payments; contingent upon faithful performance
and compliance by T 3C of the amended agreement, are -to facilitate
the construction of public improvements. The payments are payable
on each September 30 to the extent that there is available tax
634
$17,770;502
1 33
• CITY OF POWAY •
Notes to Financial Statements (Continued)
June 30,1999
increment. The Agency may also issue bonds secured by the
available tax increment when it is sufficient. The total of annual
payments and bond proceeds will "not exceed the $14,250,000, As a
result of the amendment, the Agency has removed the $2,500,000
note payable plus accrued interest of $1;528,921 from the General
Long -Tenn Debt Account Group. Due to nature of the
new obligation, it is not recorded in "the General Long -Term Debt
Account Group.
In October 1988, the Poway Redevelopment Agency entered into an
acquisition agreement with Parkway Partners to provide for the
construction of public improvements. relating to the development of
Parkway Business Center. The: agreement provides that the Agency
will enter into a promissory note with Parkway- Partners to reimburse
them for the cost of constructing, certain public improvements. In
November 1995, the Agency executed and delivered a promissory
note in the face amount of $7,372,075 at an interest rate of 6.0% per
annum,. effective July 1, 1995. The note plus accrued interest is
payable from excess tax increment generated by the project as the
funds become available. 8,751,10
Total Notes Payable 26.521.602
Obligations Under Capital Leases
The City entered into a lease agreement to fund the energy retrofit of
the lighting systems throughout the City facilities. The lease qualifies
as a capital lease and the asset has been recorded in,the General Fixed
Assets Account Group accordingly. The terms ,of the lease call for
quarterly payments of $14,959 including interest,,at5.99%. 330 213
There are a number of limitations and restrictions contained in the bond indentures. The
City is in compliance with all significant limitations and restrictions.
The annual requirements to amortize all debt outstanding in the General Long -Term Debt
Account Group, excluding amounts. for advances from other funds and notes payable, as of
June 30, 1999, including interest payments of $165,852,882 are as follows:
kill.
Long -term debt in the Water Fund at June 30, 1999 consisted of the following:
1995 General Obligation, Refunding Bonds issued in the amount of
$5,170,000 to advance refund $5,120,000 1975 General- Obligation
I Water Bonds. The bonds mature from 1996 to -2005 in annual
installments of $375;000 to $1,200,000. Interest is payable semi -
annually in April and October 1 at rates ranging from,3.9% to 4.8 %.
The balance outstanding at June,30, 1999, is net of a bond discount of
$8,958 and a loss on refanding,of $33,408. $3,167,634
`■ Poway Public Financing Authority Revenue Bonds, series 1995
issued in the amount of $3,380,000 to provide funds to construct
certain water facility improvements. The bonds consist of $2,190,000
serial bonds maturing from 1996 to 2010 in annual installments of
$105,000 to $200,060 and $1,190,000 term bonds maturing in 2015.
Interest .is payable. semi-annually on May 1 and November 1 with
rates ranging from 3.70% to 5.75 %. Bonds maturing on or after
November 1, 2006 are subject to optional redemption prior to
maturity, in whole or in part, on any date on or after November 1,
' 2005. The term bonds are subject to mandatory redemption in part on
.. November 1, 2011 to 2015 in amounts ranging from $215,000 to
$265,000. The balance outstanding at June 30, 1999 is net of a bond
discount of $41,587. 3,008,413
35
2000 $ 7,898,581
2001 8,694;609
$ 396,257 $ 4,106,075 $ 690
377,388 4,173,989 738
$ 59,835
59,835
$ 12,461,438
13,306,559
2002 8,292;070
CITY OF POWAY
59,835
12,989,793
Notes to Financial Statements (Continued)
377,388 4,292,580 845
59,835
'
June 30,1999
8,133,692 4,344,432 904
59,835
r Obligations
Thereafter 183.382'440
86.696.695 39.666
104.713
270,223.514
Year Tax
Tax Certificates
$9.662.113 $107.873.481 $4_¢33
Under
$342.841.729
Ending Allocation
Allocation of
Contract
Capital
the 1996 Certificates of Participation)
June 30 Bonds
Notes Participation
Payable
Leases Total
Long -term debt in the Water Fund at June 30, 1999 consisted of the following:
1995 General Obligation, Refunding Bonds issued in the amount of
$5,170,000 to advance refund $5,120,000 1975 General- Obligation
I Water Bonds. The bonds mature from 1996 to -2005 in annual
installments of $375;000 to $1,200,000. Interest is payable semi -
annually in April and October 1 at rates ranging from,3.9% to 4.8 %.
The balance outstanding at June,30, 1999, is net of a bond discount of
$8,958 and a loss on refanding,of $33,408. $3,167,634
`■ Poway Public Financing Authority Revenue Bonds, series 1995
issued in the amount of $3,380,000 to provide funds to construct
certain water facility improvements. The bonds consist of $2,190,000
serial bonds maturing from 1996 to 2010 in annual installments of
$105,000 to $200,060 and $1,190,000 term bonds maturing in 2015.
Interest .is payable. semi-annually on May 1 and November 1 with
rates ranging from 3.70% to 5.75 %. Bonds maturing on or after
November 1, 2006 are subject to optional redemption prior to
maturity, in whole or in part, on any date on or after November 1,
' 2005. The term bonds are subject to mandatory redemption in part on
.. November 1, 2011 to 2015 in amounts ranging from $215,000 to
$265,000. The balance outstanding at June 30, 1999 is net of a bond
discount of $41,587. 3,008,413
35
2000 $ 7,898,581
2001 8,694;609
$ 396,257 $ 4,106,075 $ 690
377,388 4,173,989 738
$ 59,835
59,835
$ 12,461,438
13,306,559
2002 8,292;070
377,388 4,259 790
59,835
12,989,793
2003 8,294,715
377,388 4,292,580 845
59,835
13,025,363
2004 8,296,199
8,133,692 4,344,432 904
59,835
20,835,062
Thereafter 183.382'440
86.696.695 39.666
104.713
270,223.514
$224.858.614
$9.662.113 $107.873.481 $4_¢33
$403.888
$342.841.729
The contract payable, advances from other funds, Tax Allocation Bonds, Certificates of
Participation (except for
the 1996 Certificates of Participation)
and notes
payable are
serviced by tax increment revenues of the City of Poway Redevelopment Agency.
Enterprise Funds
Long -term debt in the Water Fund at June 30, 1999 consisted of the following:
1995 General Obligation, Refunding Bonds issued in the amount of
$5,170,000 to advance refund $5,120,000 1975 General- Obligation
I Water Bonds. The bonds mature from 1996 to -2005 in annual
installments of $375;000 to $1,200,000. Interest is payable semi -
annually in April and October 1 at rates ranging from,3.9% to 4.8 %.
The balance outstanding at June,30, 1999, is net of a bond discount of
$8,958 and a loss on refanding,of $33,408. $3,167,634
`■ Poway Public Financing Authority Revenue Bonds, series 1995
issued in the amount of $3,380,000 to provide funds to construct
certain water facility improvements. The bonds consist of $2,190,000
serial bonds maturing from 1996 to 2010 in annual installments of
$105,000 to $200,060 and $1,190,000 term bonds maturing in 2015.
Interest .is payable. semi-annually on May 1 and November 1 with
rates ranging from 3.70% to 5.75 %. Bonds maturing on or after
November 1, 2006 are subject to optional redemption prior to
maturity, in whole or in part, on any date on or after November 1,
' 2005. The term bonds are subject to mandatory redemption in part on
.. November 1, 2011 to 2015 in amounts ranging from $215,000 to
$265,000. The balance outstanding at June 30, 1999 is net of a bond
discount of $41,587. 3,008,413
35
• CITY OF POWAY •
Notes to Financial Statements (Continued) '
June 30,1999
The Water Fund entered into a lease agreement to fund the energy
retrofit of the lighting systems throughout. the water facilities. The
lease qualifies as a capital lease and the asset has been capitalized
accordingly. The terms of the: lease call for quarterly payments of
$6,254 including interest at 5.99 138,052
Contract payable
5,407
Total
6,319
Less current portion
537'126
Long -term Debt Payable in Enterprise Funds
The annual requirements to amortize long-term debt outstanding.included in the Enterprise
Funds as of June 30, 1999, excluding contract payable and including
interest payments of
$2,143,644 are as follows:
Obligation
General Under
Year Ending Revenue
Obligation Capital
June 30 Bonds
Bonds Lease
Total
2000 $ 272,840
$ 535,787 $ 25,015
$ 833,642
2001 272,540
538,768 25,015
836,323
2002 271,930
535,486 25,015
832,431
2003 271,033
.535,788 25,015
831,836
2004 269,775
534,625 25,015
829,415
Thereafter 3,259,722
1,074,550 43,777
4,378:049
617 840
3 755 0 16
8 54 6
RESTRICTED ASSETS
Restricted assets at June 30, 1999, consisted_of the following:
Cash and Investments
Receivables Cash and Investments With Fiscal Agents
Debt
Capital
General Enterprise
Enterprise Service Enterprise
Projects Agency
Fund Funds.
Funds Funds Funds
Funds Funds
,
Tax revenues received
for payment of
general obligation
bonds $1,421,777
$3,359
•
Certificate of deposit $100,000
1978 fire bonds
$ 150
36
9.
i
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• CITY OF POWAY •
Notes,to,Financial Statements (Continued);
June 30,1999
Cash and Investments Receivables _Cash and Investments With Fiscal Agents
Debt Capital
General Enterprise Enterprise Service Enterprise projects Agency
Fund Funds Funds Funds Funds Funds Funds
1987 special tax
refimding bonds
1998 special tax bonds
1996 special tax bonds,
1996 certificates of
participation
1995 certificates of
participation
1992 certificates of
participation
1990 tax allocation
bonds
1993,tax allocation
bonds
1999 tax allocation
note
Various general
obligation bonds
Special assessment
bonds
1995 revenue
'bonds
0 00 , 1"421"977
$2
3,064,267
$163,885 54,727
438,160
3;375,564
1,014,120
6
8,237,201
884,641
$ 15,844
16,500
283.692
S3 5913-949:842 $3I4 6" 6 '8 5 $
10. SEGMENT INFORMATION FOR ENTERPRISE FUNDS
The City, maintains two enterprise funds which provide water and sewer services. Segment
information for the year ended June 30, 1999, was as follows:
Water Fund
Operating Revenues
$11,084,766
'
Depreciation
1,190,642
Operating Loss
(901,296)
418;714
Tax Revenues
463,587
(2,359,297)
Net Loss
(377,205)
(593;251)
Total Assets
37,064,923
70,214,237
37
Total
Enterprise
Sewer Fund
Funds
$ 4,792,159
$15,876,925
418;714
1,609,356
(1,458,001)
(2,359,297)
463,587
(593;251)
(970,456)
33,149,314
70,214,237
9
CITY OF POWAY
Notes to Financial Statements (Continued)
June 30;1999
11
RETIREMENT PLAN
Plan Description: The City of Poway contributes to the California Public Employees
Retirement System (PERS), an .agent multiple- employer public employee defi ned
benefit pension plan. PERS provides retirement and disability benefits, annual cost ?of
living adjustments, and death benefits to plan members and beneficiaries. PERS acts as
a common investment and administrative agent for participating public entities within
the State of Califomia. Benefit provisions and.all other requirements are established by
state statute and City ordinance, Copies of PERS' annual financial report may be
obtained from their executive office: 400'P Street; Sacramento, CA 95814.
Funding Policy: Participants are, required to contribute 7% (9% for safety employees) of
their annual covered salary. The City makes the contributions required of City
employees on their behalf and for their account. The City is, required -to contribute at an
actuarially determined rate; the, current rate is 6.5% for non - safety employees and;0%
for safety employees, of annual_covered.payroll. The contribution' requirements of plan
members and the City are established and may be amended by PERS.
Annual Pension Cost: For the.year ended-June 30, 1999, the City's annual pension cost
of $1,146,154 for PERS was :equal to the City's required and actual contributions. The
required contribution was determined as part:of.the June 30, 1997, actuarial valuation
using the entry age normal actuarial cost method. The actuarial assumptions included
(a) 8.25% investment rate of return '.(net of administrative expenses), (b) projected
annual salary increases that vary by`duration of service, and (c) 3.75% per year cost -of-
living adjustments. Both (a) and (b) included' an inflation component of 3.5 %. The
actuarial value of PERS assets was determined using techniques that smooth the effects
of short-temi volatility in the market value of investments over a four -year period
(smoothed market value). PERS unfunded actuarial accrued liability is being amortized
M
Total
Enterprise
Water Fund
Sewer Fund
Funds
Plant, Property and
Equipment:
Additions
623,127
544,646
1,167,773
Deletions
147,342
147,342
Net Working Capital
8,013,743
14,682,479
22,696,222
Capital Contributions
183,674
183,674
Bonds and Other Long -
Term Liabilities:
Payable from Operating
Revenues
5,782,380
5,782,380
Total Equity
29,604,035
32,829,834
62
11
RETIREMENT PLAN
Plan Description: The City of Poway contributes to the California Public Employees
Retirement System (PERS), an .agent multiple- employer public employee defi ned
benefit pension plan. PERS provides retirement and disability benefits, annual cost ?of
living adjustments, and death benefits to plan members and beneficiaries. PERS acts as
a common investment and administrative agent for participating public entities within
the State of Califomia. Benefit provisions and.all other requirements are established by
state statute and City ordinance, Copies of PERS' annual financial report may be
obtained from their executive office: 400'P Street; Sacramento, CA 95814.
Funding Policy: Participants are, required to contribute 7% (9% for safety employees) of
their annual covered salary. The City makes the contributions required of City
employees on their behalf and for their account. The City is, required -to contribute at an
actuarially determined rate; the, current rate is 6.5% for non - safety employees and;0%
for safety employees, of annual_covered.payroll. The contribution' requirements of plan
members and the City are established and may be amended by PERS.
Annual Pension Cost: For the.year ended-June 30, 1999, the City's annual pension cost
of $1,146,154 for PERS was :equal to the City's required and actual contributions. The
required contribution was determined as part:of.the June 30, 1997, actuarial valuation
using the entry age normal actuarial cost method. The actuarial assumptions included
(a) 8.25% investment rate of return '.(net of administrative expenses), (b) projected
annual salary increases that vary by`duration of service, and (c) 3.75% per year cost -of-
living adjustments. Both (a) and (b) included' an inflation component of 3.5 %. The
actuarial value of PERS assets was determined using techniques that smooth the effects
of short-temi volatility in the market value of investments over a four -year period
(smoothed market value). PERS unfunded actuarial accrued liability is being amortized
M
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0 •
CITY OF POWAY
Notes to Financial Statements (Continued)
1
June 30,1999
■
as a. level of projected payroll on a closed basis. The remaining amortization
period at June 30, 1999, is two years for safety 'employees, and thirteen years for
miscellaneous employees.
Three-Year Trend Information For PERS 1 ($ Amount In Thousands)
Fiscal Annual Pension Percentage of Net Pension
Unfunded
Year Cost (APC) APC.Contributed Obligation
6/30/97 $1,391 100 % $ -
6/30/98 1,266 100 % -
6%30/99 1,146 100% -
39
(Most Recent Information Available)
1
Actuarial
Unfunded
Accrued
(Excess
UAAL as
Actuarial
Actuarial
Liability
Assets)
a % of
Valuation
Value of
(AAL)
AAL
Funded
Covered
Covered
Date
Assets
Entry Age
(LJAAL)
Ratio
Payroll
Payroll
(A)
(B)
(B -A)
(A/B)
(C)
[(B -A) /C]
6/30/95:
Misc.
$15,252
$16,585
$1,333
91.9%
$7,390
18.039%
Safety
7,458
7.136
_D22j
104.5%
1.606
(20.047 0 /6)'
Total
7L
$
1l —Q U
1 2 9°
6/30/96:
Misc.
$18,397
$18,418
$ 21
99.80%
$6,732
0.308%
Safety
8.772
8,253
519
106.2%
1669
(31.096 %)
Total
27169
6 6
R4 8) 1
10"8
6/30/97:
Misc.
$22,168
$18,986
$(3,182)
116.8%
$6,878
(46.257 %)
S9ety.
10,384
8.286
(2,098
125.3%
1,702
(123.282 %)
Total
U5 . Z 8O
39
• CITY OF POWAY •
Notes to Financial Statements (Continued)
June30,1999
Defined Contribution Pension Plan
The City provides pension benefits for all of its part-time employees through a defined
contribution plan. In a defined contribution plan, benefits depend solely on amounts
contributed to .the plan plus investment earnings. The plan is administered as part of the
Public Agency Retirement Systems (PARS), All part - time employees are eligible to
participate from the date of employment. Federal legislation requires contributions of at least
7.5 percent to a retirement plan, and City Council resolved to match the employees'
contributions of 3.75 percent for employees. hired prior to July 1, 1996. Employees hired
after July 1, 1996 pay 7.5% of the contributions. The City's contributions for each employee
(and interest earned by the accounts) are,fiilly vested immediately.
For the year ended June 30, 1999, the City's payroll covered by the plan was $518,923. The
City made employer contributions of $3,948 (.76 percent of current covered payroll), and
employees contributed $34,970 (6.74 percent of current covered payroll).
12.
RETAINED EARNINGSNTND BALANCE RESERVES AND DESIGNATIONS
Reserves
The various reserves established as of June 30, 1999, are described below
General Fund
Prepaid items $ 905
Inventory 101,338
Advances to Other Funds 16,765,021
Total Reserved 17.772.142
Special Revenue Funds
Notes Receivable $ 7,095
Deposits 4,969
Advances to Other Funds 4,772,676
Low and Moderate Income Housing 10,926
Total Reserved 710 0
Debt Service Funds
Debt Service 7 -638 708
Capital Proiects Funds
Notes Receivable $ 360,000
Deposits 10,969
Advances to Other Funds 125,660
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CITY OF POWAY
Notes to Financial Statements (Continued)
June 30,1999
Fixed Assets Held for Resale
Capital Projects
Total Reserved
Enterprise Funds
Debt Service
Internal Service Fund
Equipment Replacement
Trust an&Agency Funds
Capital Projects
474,974
256,724
228 7
R eserved for Prepaid Items
Represents disbursements for insurance and similar services extending over more than one
accounting period.
Reserve for Inventory
Reserves have been'established for inventory held by the General, Fund (stationery, gasoline,
and maintenance'supplies).
Reserve for Advances to OtherFunds
This reserve is established for long -term advances to other funds.
Reserve for Notes Receivable
This reserve is established'for long -term notes receivable.
Reserve.for Deposits
This reserve is established for deposits to indicate that they are not available spendable
resources.
Reserve for Low and Moderate Income Housing
This-reserve is established for funds set aside to benefit low and moderate incwme.housing
within' the redevelopment area
Reserve for Debt Service
Funds collected and interest earned on these funds are :reserved for future principal and
interest payments of general long -term debt.
Reserve for Fixed AssetsHeld for Resale
This reserve established for fixed assets the Redevelopment - Agency purchased for the
purpose sale.. Fundbalance is reserved in an arnount.equalsto the carrying value of the
fixed assets held for resale because such assets are not;availabie to finance the Agency's
operations.
41
•
CITY OF POWAY
Notes to Financial Statements (Continued)
June 30,1999
Reserve for Capital Proiects
Principal from the none4endable:trust is reserved for park expansion and is restricted,from
use until after the year 2006. Additional funding is reserved in the Capital Projects Fund.and
Expendable Trust Fund for projects.
Reserve for Eauioment Replacement
This reserve is established for replacement of vehicles and equipment on a scheduled
program based on the estimated life of the vehicles and equipment.
Designations
Resolution 85 -038 passed by the City Council set aside all unreserved fund balance
($11,775,667) at June 30, 1999, of the'General fund for future contingencies. The General
Fund contingencies are unfunded reserves for insurance, vacation. and sick leave,
infrastructure replacement, and future contingencies designated by the City Council.
A portion of fund balancelretained earnings in certain fund types in the amount of $310 has
been designated to equal the increase in certain investments' in fair value relating to the
implementation of GASB 31. These funds are not currently available for use at this time.
The Gas Tax, Drainage, Maintenance District Miscellaneous and Grants, and Proposition A
Special Revenue Funds unreserved fund balances of $6,922,837 are designated for capital
projects.
13.
INTERFUND. RECEIVABLES/PAYABLES
Fund
Receivables
Pavables
General Fund
Special Revenue Funds:
Fire Protection
Street Improvement Fund
Drainage Fund
Miscellaneous and Grants Fund
Community Development Block Grant
Proposition A Fund
Debt Service Funds:
Redevelopment Agency
Capital Projects Funds:
Park Improvement Fund
High Valley Roads AD #96-.1 Fund
Redevelopment Area Fund
Water Enterprise Fund
Sewer Enterprise Fund
$17,010,584
2,466,944
2,094,732
11,000
11 111
125,660
13,472
3,862,411
7,276,166
$ 3,424
780,647
253,200
113,121
13,472
2,111,743
307
129,018
EYA
• •
CITY OF POWAY
Notes to Financial Statements (Continued)
June 30, 1999
,+ Fund Receivables - Payables
. Agency Fund:
Parkway Business Center CID #88 -1 4,429,604
Bond Deposits
General Long -Term Debt
Account Group'(Note 8) 24.919.512
33.060:969 33.060.969
14. INSURANCE'(CLAIMS AND JUDGMENTS)
A. Description of Self-Insurance Pool Pursuant to Joint Powers, Agreement
The City is a member of the CALIFORNIA. JOINT POWERS INSURANCE
AUTHORITY (Authority). The Authority is "composed. of 84 California' public entities
and, is organized under a joint powers agreement.pursuant to Caffoini Government
Code §6500 et seq. The purpose of the Authority is to arrange . and administer
programs for the pooling of self - insured losses, to purchase excess insurance or
reinsurance, and to arrange for group - purchased insurance for property and other
coverages. The Authority's pool began. covering =claims, of its members in 1978. Each
member government has an elected official as :its representative on the Board of
Directors. The Board.operates through a 9- member. Executive Committee.
B. Self-Insurance Programs of the Authority in which the City, Participates
General Liability — Each member government, pays a primary deposit to cover
estimated losses ;for, a fiscal year (claims year). Six months after the .close of a fiscal
year, outstanding claims are valued. A retrospective: deposit computation is then made
for each open claims- year: Costs are spread to members;as follows: the first $20,000
,of each occurrence:is charged directly to the member, costs from $20;001• to $500
are; based on a member's share of costs under $20,000; costs from $500,001 to
$5,000,000 are.pooled,based on payroll. Costs of covered claims above,$5 000,000 are
currently paid by reinsurance. The protection for each member is $50,000,000 per
occurrence"and :$50,000 annual aggregate.
Wor = kers Compensation - The City also participates4n. the workers compensation pool
adrriinistered' by the Authority. Pool deposits and retrospective: adjustments are valued
in a:mIanner'similar -to the General Liability pool. The. City is charged for the first
$50,000 of each claim. Costs are pooled above that level to $50,000. Costs from
$50 to $160,6W per claim are pooled based on the member's losses under its
retention level: Costs. between $100,001 and $500,000 per claim are pooled based on
payroll. Costs in excess of $500,000 are paid by excess insurance purchased by the
Authority. The excess insurance provides coverage to statutory limits.
43
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CITY OF POWAY
Notes to Financial Statements (Continued)
June 30, i999
C. Purchased Insurance
Properly Insurance — The City participates in the all -risk property protection program of
the Authority. This insurance protection is underwritten by several insurance
companies. The City's property.is currently insured according to a schedule of covered
property submitted by the City to the Authority. Total all -risk- property insurance
coverage is $73,608,012. There is a $5,000 per loss deductible. Premiums for the
coverage are paid annually and are not subject to retroactive adjustments.
Fidelity Bonds — The City purchases blanket fidelity bond coverage in the amount of
$1,000,000 with a $5,000 deductible:, The fidelity coverage is, provided through the
Authority. Premiums are paid annually and are not subject to retroactive *adjustments.
D. Adequacy of Protection
During the past three fiscal (claims) years none of the above programs of protection
have had settlements or judgments that exceeded pooled or'insured coverage. There
have been no significant reductions in pooled or insured liability coverage from
coverage in the prior year:
Because of the deductible amounts of the self - insurance program, the City does not
have reserves or a sinking fund set up for unpaid claims 'and judgments. They are
expended as they occur and the .City intends to .pay all of its unpaid claims and
judgments from available financial resources.
15.
JOINT VENTURE
The City is a member of the Regional Solid Waste Association Joint Powers Authority
(JPA). The JPA was formed on September 1, 1997 by the Cities of Del Mar,.Encinitas,
Lemon Grove, National City, Solana Beach and Vista to ,provide stable, long term, cost .
effective options for all aspects of regional solid waste disposal. Each member provides a
proportionate percentage of revenue to coverall costs, related to the.obligations and liabilities
of the JPA when they are due and payable. In the event:of dissolution of the JPA, any money
or assets in possession of the Regional Solid Waste Association after the. payment of all
liabilities, costs, expenses and charges* shall be distributed to the member agencies in
proportion. to their contributions determined' as of the time of temvnation. The activities of
the JPA are supervised by a board _,consisting of one elected member of the legislative body
of each of the member agencies. Summarized audited information of the JPA for the fiscal
year ended June 30, 1999 is as follows`
Total Assets $45,431
Liabilities 45.431
Fund Equity and Other Credits
44
CITY OF POWAY
Notes to Financial Statementsi(Coutinued)�
i June 30,1999
Revenues $211,280
Expenditures 211,280
M Net Incitzm in Fund Equity
The City's share of the'JPNs assets and liabilities are, not available. Separate financial
statements of the'JPA areavailable at the City of Poway.
16. OTHER REQUIRED INDIVIDUAL FUND DISCLOSURES
'. Expenditures of $1,857,302 of the City of Poway Maintenance District 83 -1 Special
Revenue Fund exceeded_;the:budget appropriation of $1,840,603.
The Transportation.Deyelopment Act Special.. Revenue Fund had a deficit fund balance of
$20,559 at June 30, 1999, which is expected to be eliminated through future revenues.
The High Valley Roads AD#9&1 Capital Projects Fund had a deficit fund balance of
$129,018 at June 30, 1999, which is expected to be eliminated through future revenues.
The Performing Art Center Expendable Trust Fund had a deficit fund balance of $8,775 at
■`� June 30, 1999, which is expected to be eliminated through future revenues.
17. ASSESSMENT DISTRICT AND COMMUNITY FACILITIES DISTRICTS BOND
ISSUES I
a. In November 1998,the City issued $26,090,000 in Special Tax Refunding Bonds to
refund the outstanding,portion of the $32,800,0WSouth Poway Community Facilities
District -.No. 1 1987 Special Tax Refunding Bonds., In May 1998, the City issued
$34,445;000 in Special Tax Refunding Bonds to refund the.outstanding portion of the
$30,000,000 and $8;000,000 Communities Facilities District No. 88 -1, (Parkway
Business Centre) Special Tax Bonds, Series 1989 and .,(Parkway Business Centre)
Special Tax Bonds Series 1990 respectively. The'bonds are authonzed'pursuant to
M61lo =Roos Community Facilities Act of 1982 and are secured ;byand payable from the
proceeds, of annual. special assessment taxes levied and eollected.on the property within
the District. The Bonds are not general or special obligations ofthe City of Poway. The
City..is:actingias agent only for the property owners,in collecting the special assessments
1 and forwarding the collections to the fiscal agents. Neither the faith and credit nor the
taxing power of the City is pledged to the payment of these bonds.
At June 30, 1999, the November 1989 and May ,1998 bonds outstanding were
$24,780,000and $34,445,000, respectively.
45
0 0
CITY OF POWAY
Notes to Financial Statements (Continued)
June 30; 1999
The City has loaned $4,429;604 (including interest) to the Parkway Business Center
CID 488 -1 Bond Deposits Agency Fund to pay debt service which should have been
paid from special taxes revenues. The loan will be repaid by 1) payments to the..City'by
the developer based on a per lot basis as lots are sold, 2) payments„to the. City by the
developer based on a sales price basis as lots are sold, and 3) if necessary, assessments
to the property owners via the special tax.
b. In June 1996, the City issued $586 Integrated Financing Assessment District No.
96-1 (High Valley Roads) Limited Obligation Improvement Bonds to finance, the cost
of acquisition and construction of.certain public infrastructure improvements benefiting
properties within the boundaries of the assessment district. The bonds are authorized
pursuant to the Improvement Bond Act of 1915 and are secured, by and payable from
the proceeds of annual special assessment taxes levied and collected, on the property
within the District The Bonds are not general or special obligations of the City of
Poway. The City is acting as agent only for the property owners in collecting the special
assessments and forwarding the collections to the fiscal agent. Neither'the =faith and
credit nor the taxing power of the; City is pledged to the payment of these bonds. At
June 30, 1999, the balance outstanding was $540,000.
18.
DEFEASEMENT OF LONG -TERM DEBT.
In September 1995, the City advance 'refunded $27,985,000 1991 Certificates of
Participation by placing an irrevocable bug with an`escrow agent amounts sufficient to meet
all future debt service payments of 'the refunded debt. As a result, the, Certificates were
considered to be defeased and the liability was removed from the general .long -term debt
account group. At June 30, 1999, $26,725,000 of the 1991 Certificates remained
outstanding.
In 1993 the Agency advance refunded $35;000,000 Tax Allocation Bonds Series 1,989A and
$9,330,000 Tax Allocation Bonds; Issue of 1991 by placing in an irrevooable amounts
sufficient to meet all future debt service payments of the. refunded debts. As a result, the
bonds were considered defeased and the liability was removed from the:G'eneral Long -Term
debt account. group. At June 30, 1999, $32,435,000 of the Tax Allocation Bonds, Series
1989A and $8,605,000 of the `Pax Allocation Bonds, Issue of 1991 remained'outstanding.
1La
COMMITMENTS AND CONTINGENCIES
a. On March 22, 1997, the Poway Redevelopment Agency entered into an Owner
Participation Agreement with a developer with regards to a certain parcel of real
property located in the Project Area within the boundaries of CID 88 -1. In order to
partially fund debt service on. the CID Bonds (see note 17a) and to provide for the
funding of certain public improvements associated with the project, the ,Agency shall
pay the developer on each annual payment date an amount equal to the gross property
!T
CITY OF POWAY
Notes to Financial Statements (Continued)
June 30, 1999
tax: increment'allocated to >.and received by the Agency with respect.to the site less the
housing -set aside,and the County and City administrative charges for the previous fiscal
I year ending June 30m preceding the annual payment date.
b. The City is a defendant in certain legal actions arising in the normal course of
operations. In the opinion of management and legal..counsel, any liability resulting from
those actions will not result in a material adverse effect on the City's financial position.
20. PRIOR PERIOD ADJUSTMENTS
'
Special assessment-tax revenues -and related expenditures comprising $278,792 with regard
to the Regional Communication System, were not recorded in prior years.
Improvements to Land'held for,resale, in the amount of, $344,626 ° were previously recorded
as an expenditure in the Capital Projects Fund and capitalizsddri the General Fixed.Assets
Account Group rather than;the Capital Projects Fund.
Balance as Prior
Previously Period Balance as
Fund Tvoe Reported Adiustment Restated
Special Revenue Funds $24,343,953 $278 $24,622
Capital Projects Funds 12,807,997 344,626 13,152,623
21. RESIDUAL EQUITY TRANSFERS
A residual equity transfer of.$147,342 was made, from the'Sewer Fund as a; contribution to
the Water Fund's fixed assets.
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• CITY OF POWAY •
Required Supplementary Information (Unaudited)
On Year 2000 C_ ompliance
June 30, 1999
Governmental Accounting Standards Board Technical Bulletin 99 -1, Disclosure About Year
2000 ( "Y2K ') Issues, requires disclosure of certain matters regarding Y2K. The Y2K issue
stems from the inability of some computer systems to function correctly with the dates of Y2K or
beyond in data, calculations or even internal clocks. Problems can occur before the Y2K; when
future dates are encountered in data or calculated: The'City's ability to serve its customers. may
be directly or indirectly affected by such,problems °in its own computer systems, others computer
systems or even devices not recognized as computers but controlled by hidden components.
The following is the City of Poway's position with regard to the stages of completion of its Y2K
efforts.
Awareness Stave
The City has taken a very proactive. approach, in addressing the Y2K issue. An inventory of all -
critical hardware and software used by the City has been performed classifying each item as
"Compliant" or "Non- compliant ". A proposed _resolution and associated costs to bring. Non-
compliant items under compliance has,been.set forth. The City has received documentation from
its computer hardware and software vendors as to the vendor's compliance with the Y2K issue.
Similar documentation has been received from other critical vendors not related to providing
computer - related products.
Remediation Stave
During the remediation stage the actual reprogramming of software, resetting of hardware
variables, and where necessary, the replacement of software and hardware occurs.
Validation/Testing Stage
Validation/Testing applies the changes to production systems in a non- production envorinment.
The implementation stage is when a tested Y2K compliant system is ready for use.
Required Year 2000 Actions
The City's computer services department has inventories of all the software, hardware and
embedded systems currently used. by all City departments. This inventory is continually updated
as new software and hardware is acquired, prior to Y2K. During this process the City has
analyzed all critical systems including its financial software, water and sewer systems, traffic
signal and emergency communications. Analysis for Y2K deficiencies in the systems is
conducted on anion -going basis. Any such deficiencies found in the systems are addressed either
by remediation or replacement. Afterward, the system must be completely tested, to ensure
compliance when Y2K arrives.
In addition, the computer services department will continue to monitor the Y2K compliance
status of their external dependencies through the year 2000. Monitoring will include the
collection of "letters of compliance" from the City's software and hardware vendors whenever
possible. These efforts are to ensure a strong; legal position and develop 'a straregy to monitor the
efforts of their key outside dependencies.
48
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SUPPLEMENTARY INFORMATION
COMBINING AND INDIVIDUAL FUND
AND ACCOUNT GROUP
FINANCIAL STATEMENTS AND SCHEDULES
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10
GENERAL FUND Used to account for all ,of the.general revenues of the City
not specifically levied or collected for other City funds, and
I for the expenditures '. related to the rendering of general
services by the City. The�General Fund is used to account
for all resources not required to be accounted for in another
fund.
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CITY OF POWAY
Comparative Balance Sheets
General Fund
June 30; 1999
Assets
1999
1998
Cash and investments
Receivables Net of allowance
for uncollectibles):
Taxes
Accounts
Interest
Due from other funds
Due from other governments
Prepaid items
Inventory, at cost
Advances to other funds
Restricted cash and investments
Total Assets
$ 11,007,380
1,268,983
444,539
1,107,227
245,563
282,772
905,783
101,338
16,765,021
100,000
$ 32,228,606:_
$ 9,421,837
1,106;576
245,454
917,398
170;850
342,678
73,052
109,320
17;567,565
100;000
$'30,054;730
Liabilities and Fund Balance
Liabilities:
Accounts payable
Accrued. liabilities
Deposits
$ 1,525,208
977,094
65,374
$ 1,287,858
939,657
67,487
Total Liabilities
Fund Balance:
Reserved:
Prepaid items
Inventory
Advances to other funds
Unreserved:
Designated for far value adjustment
Designated for contingencies
Total Fund Balance
Total Liabilities and Fund Balance
2,567,676 2,295,002
905,783
101,338
16,765,021
11,888,788
29,660,930
$ 32,228,606
73,052
109;320
17,567,565
40,337
9,969,454
27;759,728
$ 30054,730
52
• CITY OF POWAY •
Statement`, of Revenues, Expenditures' and' Changes in Fund Balance
Budget and Actual
• General Fund
For the Year Ended June 30, 1999
1999
1998
Variance
Favorable
Budget Actual (Unfavorable)
$ 10,221,610
285,270
1,986,000
5,561,550
78,400
1,079,970
347,950
$ 11,321,795
262
2,243,053
6,169,569
210,762
1,397,834
529,866
$ 1,100,185
(22,788)
257,053
608,019
132,362
317,864
181,916
Actual
$ 10,133,119
257,818
2,087,767
6,253,837
86,273
1,359,029
372,938
19,560,750
Revenues:
2,574,611
Taxes
Licenses and permits
1
Intergovernmental
4;291,252
275,772
Charges for services
10,370,785
Fines and forfeitures
'
Interest and rentals
1,608,411
Other
129,047
Total Revenues
3,201,064
Expenditures:
185,990
Current:
General government.
3,061,175
Public safety
1,209,633
Public works
Community services
Capital expenditures
Debt service:
I
Principal
Interest
'
Total Expenditures
Excess (Deficiency) of
Revenues Over
Expenditures
Other Financin&Sources (Uses):
Operating,transfers °.in
Operating. transfers (out)
Total Other Financing
Sources (Uses)
Excess (Deficiency) of
Revenues and Other
Sources Over
Expenditures and
`
Other Uses
t Fund
Balance, Beginning
Fund Balance, Ending
1998
Variance
Favorable
Budget Actual (Unfavorable)
$ 10,221,610
285,270
1,986,000
5,561,550
78,400
1,079,970
347,950
$ 11,321,795
262
2,243,053
6,169,569
210,762
1,397,834
529,866
$ 1,100,185
(22,788)
257,053
608,019
132,362
317,864
181,916
Actual
$ 10,133,119
257,818
2,087,767
6,253,837
86,273
1,359,029
372,938
19,560,750
22;135,361
2,574,611
20,550,781
4,567,024
4;291,252
275,772
4,119,614
10,370,785
9,870,602
500,183
9,333,832
1,608,411
1,479,364
129,047
1,368,133
3,201,064
3
185,990
2
3,061,175
1,851,542
1,209,633
1,255,900
32,979
2,826
22,808,459 20,507,834 2,300,625 18,875,248
(3,247,709) 1,627,527 4 1,675,533
568,660 1,018,596 449,936 1,496,570
(740,000) (744,921) (4;921) (730,263)
(171,340) 273,675 445,015 766,307
(3,419,049) 1,901,202
27;759,728 27,759,728
5,320,251 2,441,840
25,317,888
$ 24,340,679 $ 29,660,930 $ 5,320,251 $ 27,759,728
53
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54
SPECIAL REVENUE FUNDS
Fire Protection Fund Used to account for revenues received from the Fire
Protection Special Tax. Voters approved this special
tax in June 1997. It is used to pay for a portion of the
costs of fire protection within the City of Poway.
Drainage Fund Used to account for operations of the flood control
' and drainage division. Financing is provided by
developer's drainage fees and flood zone fees. from the
County. Poway Municipal Code Section 16.72
requires the segregation of the funding.
Maintenance District 83 -1 Fund Used for landscape and maintenance of a noise buffer.
Costs of the projects are estimated and property
owners are assessed their proportionate share based on
acreage owned. The assessments are collected via the
tax rolls.
1 Miscellaneous and Grants Fund Used to account for grants from various agencies used
for operations and maintenance, and to account for
specific in -lieu fees from developers. Financing for
grants is provided by the State, County and Federal
Government. Such grants provide, for payment of all
current operating costs and may be used only for
specified purposes.
55
800 MHZ Regional Communication
Used to account. for revenues received from the 800
System Fund
MHZ Regional Communication System Special Tax.
Voters approved this special tax in June 1998. It is
used to pay for the City's share of the County -wide
radio backbone system, and a portion of the annual
maintenance expenses.
Gas Tax Fund
Used to account for revenues received and
expenditures made. for street maintenance. Financing
is provided by the Citys share of State gasoline taxes
made pursuant to the California State Constitution and
authorized by the State Legislature.
Street Improvement Fund
Used to account for revenues received and
N
expenditures made for street improvements. Financing
is provided primarily from developer's traffic
mitigation fees. City Ordinance No. 80 authorized the
1
collection and the segregation of the funding.
Drainage Fund Used to account for operations of the flood control
' and drainage division. Financing is provided by
developer's drainage fees and flood zone fees. from the
County. Poway Municipal Code Section 16.72
requires the segregation of the funding.
Maintenance District 83 -1 Fund Used for landscape and maintenance of a noise buffer.
Costs of the projects are estimated and property
owners are assessed their proportionate share based on
acreage owned. The assessments are collected via the
tax rolls.
1 Miscellaneous and Grants Fund Used to account for grants from various agencies used
for operations and maintenance, and to account for
specific in -lieu fees from developers. Financing for
grants is provided by the State, County and Federal
Government. Such grants provide, for payment of all
current operating costs and may be used only for
specified purposes.
55
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1 0 •
P SPECIAL REVENUE FUNDS
' Fire Protection Fund Used to account for revenues received from the Fire
Protection Special Tax. Voters approved this special
tax in June 1997. It is used to pay for a portion of the
costs of fire protection within the City of Poway.
800 MHZ Regional Communication Used to account for revenues received from the 800
System Fund MHZ Regional Communication System Special Tax.
' Voters approved this special tax in June 1998. It is
used to pay for the City's share of the County-wide
radio backbone system, and a portion of the annual
' maintenance expenses.
Gas Tax Fund Used to account for revenues received and
expenditures made for street maintenance. Financing
is provided by the City's.share of' State gasoline taxes
made pursuant to the California State Constitution and
S authorized by the State Legislature.
Street Improvement Fund Used to account for revenues received and
lie expenditures made for street improvements. Financing
is provided primarily from developer's traffic
mitigation fees. City Ordinance No. 80 authorized the
' collection and the segregation of the funding.
Drainage Fund Used to account for operations of the flood control
and drainage division. Financing is provided by
developer's drainage fees and flood zone fees from the
County. Poway Municipal Code Section 16.72
requires the segregation of the funding.
Maintenance District 83 -1 Fund Used for landscape and maintenance of anise buffer.
Costs of the projects are estimated and property
owners are assessed:their proportionate share based on
acreage owned. The assessments are collected via the
tax rolls.
Miscellaneous Grants Fund Used to account for grants from various agencies used
for operations and maintenance, and to account for
specific in -lieu fees from developers. Financing for
grants is provided by the State; County and Federal
Government. Such grants provide for payment of all
current operating costs and may be used only for
specified purposes.
57
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1
CITY OF POWAY
Combining Balance Sheet - All Special Revenue Funds
June 30, 1999
Assets
Cash and investments
Taxes receivable
Accounts receivable
Interest receivable
Notes receivable
Due from. other governments
Deposits
Advances to other funds
Total Assets
Liabilities and Fund Balances
Liabilities:
Accounts payable
Accrued liabilities
Due to other funds
Deferred revenue
Advances from other funds
Total Liabilities
Fund Balances:
Reserved:
Notes receivable
Deposits
Advances to other funds
Low and moderate
income housing
Unreserved:
Designated for:
Capital projects
Fair value adjustment
Undesignated
Total Fund Balances
800 MHz
Fire Communication Street
Protection System Gas Tax Improvement
$ 320,916 $ 291,026 $ 1,645,684 ,
$ 3,424
79,501
7,095 ,
$ 3,424 $ 320,916
$ 3,424
4,969 '
2
$ 370,527 $ 4;124,692
$ 88,415 $ 2,940 1
38,799
780,647
3,424 127,214 783,587
7,095
4,969
2,466,944 .
243,313
$ 320,916 862,097
320,916 243,313 3,341,105
Total Liabilities and
Fund Balances $ 3,424 $ 320,916 $ 370,527 $ 4,124,692
58 1
Community Transportation Royal Mobile-
Maintenance Miscellaneous Development Development Proposition home Park
Drainage District'83 -1 and Grants Block Grant Act A Administration
' $ 765,993 $ 4,163,209 $ 1,426,954 $ 15,137 $ 2,379 $ 869,296 $ 2,357,524
13,039
904 25,725
' 1,600 110,030 39,291
2,094,732 11,000 200,000
$ 2,862 $ $ 1;573,709 $ 54,428 $ 2,379 $ 1;069;296 $ 2,357,524
' $ 12,309 $ 173,503 $ 71 ; 998 $ 38,662 $ 22,938 $ 40,382 $ 15,550
4,321 8,027 1,558
113,121 13,472
20,374
253,200
290,204 181,530 185;119 52,134 22;938 40,382 17,108
' 2,094,732 11,000 200,000
477;389 3,995,622 1,377,590 828,914
9
' 2,294 20,568 2,340,416
2 3,995,622. 1,388,590 2,294 20;559 1,028,914 2,340,416
' $ 2,862,325 $ 4 $ 1,5,73,709 $ 54,428 $ 2,379 $ 1,069;296 $ 2,357,524
(Continued)
59
0
CITY OF POWAY
Combining Balance Sheet - AH.Special Revenue Funds (Continued)
June 30, 1999
Low and
Moderate
Income Totals
Assets Housing 1999 1998
Cash and investments
Taxes receivable
Accounts receivable
Interest receivable
Notes receivable
Due from other governments
Deposits
Advances to other funds
Total Assets
Liabilities and Fund Balances
Liabilities:
Accounts payable
Accrued liabilities
Due to other funds
Deferred revenue
Advances from other funds
Total Liabilities
$ 10,913,763
34,650
$ 489,044
52,705
130,017
20,374
1,033,847
$ 10,948,413 $ 27,864,785 $ 26,724,903
$ 22,347
$ 22,771
16,463
140,780
7,095
150,921
4,969
4,772,676
$ 15
23,699
113,636
3,288
7,095
278,575
4,969
10,414,418
Fund Balances:
Reserved:
Notes receivable
Deposits
Advances to other funds
Low and moderate
income housing
Unreserved:
Designated for:
Capital projects
Fair value adjustment
Undesignated
Total Fund Balances
Total Liabilities and
Fund Balances
22,347 1,725,987 2,102,158 1
7,095
4,969
4,772,676
10,926,066
10,926,066
6,922;828
9
3,505,155
$ 918,067
44,301
85,569
'
•
20,374
1,033,847
Fund Balances:
Reserved:
Notes receivable
Deposits
Advances to other funds
Low and moderate
income housing
Unreserved:
Designated for:
Capital projects
Fair value adjustment
Undesignated
Total Fund Balances
Total Liabilities and
Fund Balances
22,347 1,725,987 2,102,158 1
7,095
4,969
4,772,676
10,926,066
10,926,066
6,922;828
9
3,505,155
7,239;292
41,528
3,620,539
10,926,066 .26,138;798 24,622,745
1
I
$ 10,948,413 $ 27;864,785 $$ 26,'72��
60 1
7,095
4;969
10,414,418
3,294,904
7,239;292
41,528
3,620,539
10,926,066 .26,138;798 24,622,745
1
I
$ 10,948,413 $ 27;864,785 $$ 26,'72��
60 1
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'. This page left blank intentionally.
I
I
i
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1
1
1�
61
0
0
i
CITY OF POWAY
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
All Special Revenue Funds
For the Year Ended June 30, 1999
Revenues:
Taxes
Intergovernmental
Charges for services
Interest and rentals
Developer fees
Other
Total Revenues
Expenditures:
Current:
General government
Public safety
Public works
Community services
Capital expenditures
Total Expenditures
Excess (Deficiency) of
Revenues Over
Expenditures
Other Financing Sources (Uses):
Operating transfers in
Operating transfers out
Total Other Financing
Sources (Uses)
Excess (Deficiency) of
Revenues:and Other
Sources Over
Expenditures
and Other Uses
Fund Balances, Beginning (Restated)
Fund Balances (Deficit), Ending
800 MHz
Fire Communication
Street
894,446
Protection System Gas Tax
Improvement
278,792 202,384 3,654,962
736,287
$ 884,746
1- 17,230
695,244
$ 557,590 $ 124,727
853;517
5,107 9,700
$ 78,398
302,989
557,590 129,834
87,710
87,710
557,590 42,124
557,590
557,590
894,446
381,387
278,792 202,384 3,654,962
736,287
1- 17,230
695,244
853;517
695,244
40,929
(313,857)
42,124 40,929 (313,857)
278,792 202,384 3,654,962
$ - $ 320,916 $ 243 $,$ 3,341,105
62
1
Community Transportation
Maintenance Miscellaneous Development Development Proposition
Drainage District 83 -1 and Grants Block Grant Act A
$ 363,033 $ 163,056
$ 411,508 $ 203,624 $ 334,956 $ ' 601,000
Royal Mobile -
home Park
Administration
1,572,354
54,665 178,312 19,802 1,806 52,758 $ 2,998,773
149,172 186,987
46,852 5,295 102
613,722 1,919,017 721,282 203,624 336,762 653,758 2,998,773
250,888
2,400
19,135
874,163
1,126,957 1,124,527
447,248 730,345 315,399 203,610 262;375 514,366 48,080
698,136 1,857,302 317,799 203,610 281,510 1,388;529 1,172,607
(84,414) 61,715 403
1 (30,000)
(30,000)
14 55,252 (734,771) 1,826,166
14,920
14,920
(1,754,927)
(1
' (84,414) 61,715 373,483 14 70,172 (734,771) 71,239
' 2,656,535 3,933,907 1,015,107 2,280 90,731 1,763,685 2,269,177
$ 2,572,121 $'3,995,622 $ 1,388,590 $ 2,294 L(20,559) 1 1,028;914 $ 2,340,416
(Continued)
' 63
0 0 1
CITY OF POWAY
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
All Special Revenue Funds (Continued) •�
For the Year Ended June 30, 1999
Total Revenues
Expenditures:
Current:
General.government
Public safety
Public works
Community services
Capital expenditures
Total Expenditures
Excess (Deficiency) of
Revenues Over
Expenditures
Other Financing Sources (Uses):
Operating,transfers in
Operating transfers out
Total Other Financing
Sources (Uses)
Excess (Deficiency) of
Revenues and Other
Sources Over
Expenditures
and Other Uses
Fund Balances, Beginning (Restated)
Fund Balances (Deficit), Ending
Totals 1
1999 1998
$ 526 ;089
2,435,834
2,254;671-
4,530;009
639,148
273,786
Low and
$ 508,195
Moderate
5,217,698
Income
2;151,320
Housing
Revenues:
222;211
Taxes
Intergovernmental
87,710
Charges for services
Interest and rentals
$ 1,130,688
Developer fees
Other
118
Total Revenues
Expenditures:
Current:
General.government
Public safety
Public works
Community services
Capital expenditures
Total Expenditures
Excess (Deficiency) of
Revenues Over
Expenditures
Other Financing Sources (Uses):
Operating,transfers in
Operating transfers out
Total Other Financing
Sources (Uses)
Excess (Deficiency) of
Revenues and Other
Sources Over
Expenditures
and Other Uses
Fund Balances, Beginning (Restated)
Fund Balances (Deficit), Ending
Totals 1
1999 1998
$ 526 ;089
2,435,834
2,254;671-
4,530;009
639,148
273,786
1,249,342
10,659;537
$ 508,195
5,217,698
2;151,320
4;818,950
222;211
304,110
75,883
87,710
1,249,342
10,659;537
13,136,156
203,076
222;211
211,042
87,710
94,389
1,863;738
4,667,002
2;251
2,159,599,
115,266
3,449,163
6,461,819
318,342
7,874,306
13,593
2,785,231
931,000
-
(457,695)
2,846,879
2,861,799
9,443,792
(1,788,460)
(4,130,977)
(4,799,012)
1,058,419
(1,269,178)
4;644,780
1,989,419 1
8,936,647 24;622,745
$ 10 $ 26 ;138
M
4,187,085
,20
$ 24,622;745
1
r
CITY OF POWAY
Statement of Revenues, Expenditures, and,ChangesjwFund`•Balance
Budget and Actual
Fire'Protection Special Revenue Fund
For the Year Ended June ^; 30,.1999
Revenues:
Charges for services
Other Financing (Uses):
Operating transfers out
Excess (Deficiency) of
Revenues Over
Other Uses
Fund Balance, Beginning
Fund Balance, Ending
1999 1998
Variance
Favorable
Budget Actual ( Unfavorable ) Actual
$ 525,000 $ 557,590 $ 32,590 $, 537,092
(525,000 ) ((557 32,590 (537,092)
65
lJ
0
CITY OF POWAY
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual
800 MHz Communication System Special Revenue Fund
For the Year Ended June 30, 1999
1999
Revenues:
Charges for services
Interest
Total Revenue
Expenditures:
Public safety
Excess (Deficiency) of
Revenues Over
Expenditures
J
•
1
Variance _
Favorable '
Budget Actual ( Unfavorable ) Actual
$ 125,000 $ 124,727 $ (273) ,
5,107 5,107 $ 9,606
125 129,834 4,834 .9,606 1
123,460 87,710 35,750 94,389 1
1,540 42,124 40,584 (84,783)
Fund Balance, Beginning (Restated)
278,792
278,792
363,575
Fund Balance, Ending
$ 280,332
$ 320,916
$ 40,584 $ 278,792
u
..
I
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10
I
1
1
• CITY OF POWAY •
Statement of Revenues, Expenditures, and Changes in-Fund Balance
Budget and Actual
Gas Tax Special Revenue Fund
For the Year Ended June 30, 1999
Revenues:
Intergovernmental
Interest
Total Revenue
Expenditures:
Current:
Public works
Capital expenditures
Total Expenditures
Excess (Deficiency) of
Revenues Over
Expenditures
Other Financing Sources:
Operating transfers in
Excess (Deficiency) of
Revenues and Other
Sources Over
Expenditures
Fund Balance, Beginning
Fund Balance, Ending
1999
Variance
Favorable
Budget Actual ( Unfavorable )
Actual
$ 888,190 $ 884,746 $ (3,444) $ 871,167
9,700 9,700 9,887
888,190 894,446 6,256 881,054
784,868 736,287 48,581 872,050
134,392 117,230 17,162 85,770
919,260 853,517 65,743 957,820
(31,070) 40,929 71,999 (76,766)
23,084
(31,070) 40,929 71,999 (53,682)
202,384 202,384
256,066
$ 171,314 $ 243,313 $ 71,999 $ 202,384
67
• CITY OF POWAY 0 1
Statement of Revenues, Expenditures, and Changes in Fund Balance 1
Budget and Actual •
Street Improvement Special Revenue Fund
For the Year Ended. June 30, 1999 '
1999 1998 '
Variance
Favorable '
Budget Actual (Unfavorable) Actual
Revenues:
Interest and rentals $ 55,620 $ 78,398 $ 22,778 $ 115,638
Developer fees 5,0,000 302,989 252,989 80,869
Total. Revenues 105,620 381,387 275,767 196,507
Expenditures:
Capital expenditures 2,221 695,244 1,526,341 5,506
Excess (Deficiency) of '
Revenues Over
Expenditures (2,115965) (313,857) 1,802,108 191,001
Fund Balance, Beginning 3,654,962 3,654,962 3,463,961
Fund Balance, Ending $ 1,538,997 $ 3,341,105 $ 1,802,108 $ 3,654,962 ,
r
68
I
CITY OF POWAY
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual
Drainage Special Revenue Fund
For the Year Ended June 30, .1999
Revenues:
Taxes
Interest and rentals
Developer fees
Other
Total Revenues
1
Expenditures:
Current:
Public works
Capital expenditures
'�•
Total Expenditures
32,538
Excess (Deficiency) of
831,885
Revenues Over
384,637
Expenditures
'
Fund Balance, Beginning
'
Fund Balance, Ending
1
i
1�
1999 1998
Variance
Favorable
Budget Actual nfavorable) Actual
$ 358,930 $ 363,033 $ 4,103 $ 352,529
62,950 54,665 (8,285) 71,197
55,000 149,172 94,172 43,380
46,852 46,852 3,934
476,880 613,722 136,842 471,040
283,426
250,888
32,538
274,854
831,885
447,248
384,637
83,210
1,115,311
698,136
417,175
358,064
(638,431)
(84,414)
554,017
112,976
2,656,535
2,656,535
2,543,559
$ 2,018,104 $ 2,572,121 $ 554 $ 2,656,535
69
0 0
CITY OF POWAY
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget'and Actual
Maintenance District 83 -1 Special Revenue Fund
For the Year Ended June 30, 1999
Expenditures:
Current:
Community services 1,187,373 1,126,957 60,416 1,033,808
Capital expenditures 653,230 730,345 (77,115) 632,744
Total Expenditures 1,840,603 1,857,302 16,699 1,666,552
Excess of Revenues
Over Expenditures 100,707 61,715 (38,992) 349,955
Other Financing Sources:
Operating transfers in 35,430
Excess of Revenues
and Other Sources
Over Expenditures 100,707 61,715 (38,992) 385
Fund Balance, Beginning
3,933,907 3,933,907
3,548,522
Fund Balance, Ending
$ 4,034,614 $3,995,622 _L(IL9921 $ 3,933,907
Iv
1999
1998
Variance
Favorable
Budget
Actual
( Unfavorable )
Actual
Revenues:
Taxes
$ 153,940
$ 163,056
$ 9,116
$ 155,666
Charges for services
1,647,080
1,572,354
(74,726)
1,614,228
Interest and rentals
140,290
178,312
38,022
223
Other
5,295
5,295
23,530
Total Revenues
1,941,310
1,919,017
22,293
2,016,507
Expenditures:
Current:
Community services 1,187,373 1,126,957 60,416 1,033,808
Capital expenditures 653,230 730,345 (77,115) 632,744
Total Expenditures 1,840,603 1,857,302 16,699 1,666,552
Excess of Revenues
Over Expenditures 100,707 61,715 (38,992) 349,955
Other Financing Sources:
Operating transfers in 35,430
Excess of Revenues
and Other Sources
Over Expenditures 100,707 61,715 (38,992) 385
Fund Balance, Beginning
3,933,907 3,933,907
3,548,522
Fund Balance, Ending
$ 4,034,614 $3,995,622 _L(IL9921 $ 3,933,907
Iv
CITY OF POWAY
'Statement of Revenues, Expenditures,.and Changes; in Fund Balance
-'. Budget and;Actual
Miscellaneous and Grants Special Revenu&Fund
For the Year Ended June 30, 1999
1999
Total Other Financing
Sources (Uses)
Excess (Deficiency) of
Revenues and Other
' Sources Over
Expenditures and
Other Uses
' Fund Balance, Beginning
Fund Balance, Ending
,1
Budget Actual
199
Variance
Favorable
(Unfavorable) Actual
$ 147,000
Revenues:
$ 264,508
Intergovernmental
'
Interest
'
Developer fees
'
Other
106,987
Total Revenues
'
Operating transfers out
2,985
Expenditures:
Current:
Public works
Capital expenditures
'•
721,282
379,892
Total Expenditures
Total Other Financing
Sources (Uses)
Excess (Deficiency) of
Revenues and Other
' Sources Over
Expenditures and
Other Uses
' Fund Balance, Beginning
Fund Balance, Ending
,1
Budget Actual
199
Variance
Favorable
(Unfavorable) Actual
$ 147,000
Excess (Deficiency) of
$ 264,508
Revenues Over
14,390
Expenditures
'
7,524
80,000
Other Financing Sources (Uses):
106,987
Operating transfers in
'
Operating transfers out
Total Other Financing
Sources (Uses)
Excess (Deficiency) of
Revenues and Other
' Sources Over
Expenditures and
Other Uses
' Fund Balance, Beginning
Fund Balance, Ending
,1
Budget Actual
199
Variance
Favorable
(Unfavorable) Actual
$ 147,000
$ 411;508
$ 264,508
$ 616,019
14,390
19;802
5,412
7,524
80,000
186,987
106,987
179,861
100,000
102,985
2,985
640
341,390
721,282
379,892
804,044
2,400 (2,400)
1,311,894 315,399 996,495 719,062
1,311,894 317,799 994;095 719,062
(970,504) 403,483 1,373,987 84,982
74,208
30,000 (30,000) (62,030)
30,000 (30,000) 12,178
(970,504) 373,483
1,015,107 1,015,107
917,947
$ 44,603 $ 1,388;590. $ 1,343,987 $ 1,015,107
71
1,343,987 97,160
0 0
CITY OF POWAY
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual
Community Development Block Grant 'Special Revenue Fund
For the Year Ended'June 30, 1999
72
1999
1998
Variance
Favorable
Budget
Actual
( Unfavorable )
Actual
Revenues:
Intergovernmental
$ 266,231
$ 203,624
$ (62,607)
$ 225,888
Expenditures:
Capital expenditures
402,317
203,610
198,707
225;888
Excess (Deficiency) of
Revenues Over
Expenditures
(136,086)
14
136,100
Fund Balance, Beginning
2,280
2,280
2;280
Fund Balance, Ending
$ 133;806
$ 2,294
$ 136,100
$ 2,280
72
CITY OF POWAY
Statement.of Revenues, Expenditures, and Changes. in Fund$alance
Budget and Actual'.
Transpoitation Development Act Special Revenue Fund
For the Year Ended June 30 1999
1 999
Revenues:
' Intergovernmental
Interest and rentals
Variance
Favorable
Budget Actual nfavorable) Actual
$ 281,656 $ 334;956 $ 53,300
6,810 1,806 5 $ 468
288,466 336,762 48,296 468
19,135 (19,135)
606,902 262,375 344,527 348,550
606,902 281,510 325 348,550
(318,436) 55,252 373,688
14,920 14,920
1'998
(348,082)
(318,436) 70,172 388,608' (348,082)
90,731 90,73.1 257,351
$ 409,167 $ 20,559 $ 388,608 $ 90,731
73
Total Revenues
'
Expenditures:
Current:
General government
'
Capital expenditures
Total Expenditures
'•Excess,
Over Expenditures
(Deficiency) of
'
Revenues Over
Expenditures
Variance
Favorable
Budget Actual nfavorable) Actual
$ 281,656 $ 334;956 $ 53,300
6,810 1,806 5 $ 468
288,466 336,762 48,296 468
19,135 (19,135)
606,902 262,375 344,527 348,550
606,902 281,510 325 348,550
(318,436) 55,252 373,688
14,920 14,920
1'998
(348,082)
(318,436) 70,172 388,608' (348,082)
90,731 90,73.1 257,351
$ 409,167 $ 20,559 $ 388,608 $ 90,731
73
Other_ Financing Sources:
Operating transfers in
Excess ,(Deficiency) of
'
Revenuesand
Other Sources
Over Expenditures
Fund Balance
'
Fund Balance (Deficit), Ending
Variance
Favorable
Budget Actual nfavorable) Actual
$ 281,656 $ 334;956 $ 53,300
6,810 1,806 5 $ 468
288,466 336,762 48,296 468
19,135 (19,135)
606,902 262,375 344,527 348,550
606,902 281,510 325 348,550
(318,436) 55,252 373,688
14,920 14,920
1'998
(348,082)
(318,436) 70,172 388,608' (348,082)
90,731 90,73.1 257,351
$ 409,167 $ 20,559 $ 388,608 $ 90,731
73
0
0
CITY OFTOWAY
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual
Proposition A Special Revenue Fund
For the Year Ended June 30, 1999
Expenditures:
Current:
Public works 909,934 874,163 35,771, 3,520,098
Capital expenditures 665,351 514,366 150,985' 10,382
Total Expenditures 1,575,285 1,388,529 186,756. 3,530,480
Excess (Deficiency) of
Revenues Over
Expenditures (1,056,225) (734,771) 321,454 122,365
Fund Balance, Beginning
1,763,685
1999
1,641,320
1998
Fund Balance, Ending
$ 707,460
$ 1,028,914
Variance
Favorable
Budget.
Actual
( Unfavorable )
Actual
Revenues:
Intergovernmental
$ 485,000
$ 601,000
$ 116,000'
$'3;504,624
Interest and rentals
34,060
52,758
18,698
148
Total Revenues
519
653,758
134,698,
3
Expenditures:
Current:
Public works 909,934 874,163 35,771, 3,520,098
Capital expenditures 665,351 514,366 150,985' 10,382
Total Expenditures 1,575,285 1,388,529 186,756. 3,530,480
Excess (Deficiency) of
Revenues Over
Expenditures (1,056,225) (734,771) 321,454 122,365
Fund Balance, Beginning
1,763,685
1,763,685
1,641,320
Fund Balance, Ending
$ 707,460
$ 1,028,914
$ 321;454 $ 1,763,685
74
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CITY OF POWAY
Stateinent Expenditures and ChangesJn_Fund',Balance
Budget and Actual
Royal.Mobilehome Park Administration`Special Revenue Fund
For the Year Ended June 30, 1999
1999
Revenues:
Interest and rentals
Expenditures:
Current:.
Commun ty.services
Capital expenditures
1,480,710 1,172607 308 1,733,115
Variance
Favorable
Budget Actual ( Unfavorable ) Actual
$ 2,966,136 $ 2,998;773 $ _32,637 $ 2,985,697
1,390,890 1,124,527 266,363 1,125,791
89;820 48,080 41,740 607,324
Total Expenditures
Excess of Revenues
Over Expenditures
Other Financing (Uses):
Operating transfers out
Excess (Deficiency) of
Revenues Over
Expenditures and
Other Uses
Fund Balance, Beginning
Fund Balance, Ending
1,485,426 1,826 340,740 1,252,582
(1,743,690) (1,754,927) 11,237 (1,746
(258,264) 71,239
2,269,177 2,269,177
..;
329,503 (494,022)
2,763,199
$ 2,010,913 $ 2,340,416 $ 329,503 $ 2269;177
75
0 0
CITY OF POWAY
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual
Low and Moderate Income Housing Special Revenue Fund
For the Year Ended June 30, 1999
Budget
Revenues:
Interest and rentals
Other
Total Revenues
Expenditures:
Current:
General government
Capital expenditures
Total Expenditures
Excess (Deficiency) of
Revenues Over
Expenditures
Actual
1998
Variance
Favorable
(Unfavorable) Actual
$ 987,670 $ 1,130,688 $ 143,018 $ 1,307,629
118,654 118,654 47,779
987,670 1,249,342 261,672 1,355,408
292,610 203,076 89,534 211,042
3,678,750 115,266 3,563,484 3,743,383
3,971,360 318,342 3,653,018 3,954,425
(2,983,690) 931,000 3,914,690 (2,599,017)
Other Financing Sources (Uses):
Operating transfers in 2,556,710 2,846,879 290,169 9,311,070
Operating transfers out (1,894;470) (1,788,460) 106,010 (2,453,286)
Total Other Financing
Sources (Uses)
Excess (Deficiency) of
Revenues and Other
Sources Over
Expenditures and
Other Uses
662,240 1,058,419 396,179 6;854,784
(2,321,450) 1,989,419 4,310,869 4,258,767
I
1
4"
1
I
Fund Balance, Beginning 8,936,647 8,936,647 4 1 , 677,880
Fund Balance, Ending $ 6;615 $ 10,926,066 $ 4,310,869 $ 8;936,647
76 1
•. DEBT SERVICE FUNDS
1
1
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0
Used to account, for, accumulation of resources for
the payment of'interest and principal of general long-
term debt.
W&J
•
Assets
Cash and investments
Taxes receivable
Interest receivable
Loan receivable
Restricted assets:
Cash and investments
with fiscal agents
Total Assets
Liabilities and Fund Balances
Liabilities:
Accrued liabilities
Advances from other funds
Total Liabilities
Fund balances:
Reserved:
Debt service
Unreserved:
Designated for
fair value adjustment
Total Fund Balances
Total Liabilities and
Fund Balances
CITY'OF POWAY
Combining Balance Sheet
All Debt Service Funds
June 30, 1999
City of
Poway
City of Redevelopment Totals
Poway Agency 1999 1998
$ 3,908,926
$ 1,352,685
438,797
109,281
600
$ 5,261,611
438,797
117,447
600
$ 4,510,373
572,472
115;877
1,200
A. M. 4
2,362
11,586
13,949,842
13,120,713
$ 6,279955
$:13,488,342
$ 19,768,297
$ 18
$ 150 $ 17,696 $ 17,846 $ 151
2,111,743 2,111,743 8,941,743
150 2,129,439 2,129,589 8,941,894
6,279,805 11;358,903 17,638,708 9,369,103
12
6,279,805 11,358,903 17,638,708 9,381;741
$ 6;279,955 $ 13,488,342 $ 19,768,297 $ 18,323,63
78
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• CITY OF •
Combining Statement of Revenues-Expenditures, and
Changes in-Fund Balances - All Debt;Service Funds
For the Year Ended June 30j999
Revenues:
Taxes
Interest and rentals
Total Revenues
Expenditures:
Debt service:
Principal
Interest and fiscal charges
Bond issuance costs
Tax increment reimbursement
Total Expenditures
(Deficiency) of Revenues
Over Expenditures
Other Financing Sources (Uses)
Proceeds from long -term debt
Operating transfers in
Operating transfers out
Total Other. Financing
Sources (Uses)
Excess (Deficiency) of
Revenues and Other
Sources'Over
Expenditures. and
Other Uses
Fund Balances, Beginning
Fund Balances, Ending
City of
Poway
City of Redevelopment
Poway Agency
Totals
1999 1998
$ 14,199,118 $ 14,199,118 $ 12,379,735
$ 589,735 663,420 1,253,155 955,358
5 89, 73 5 14,862,538 15, 452, 273 13,335,093
800,000 5,272,045
6,072,045
6,351,970
1,397,522 11,685,224
13,082,746
13,133,064
185,166
185,166
22,413
234,601
234,601
76,118
2,197,522 17,377,036
19,574,558
19,583,565
(1,607,787) (2,514,498) (4,122,285) (6,248,472)
10,319,973 10,319,973 2,307,457
1,789,324 4,176,158 5,965 482 5,853,916
(3,906,203) (3,906,203) (10,402,961)
1,789,324 10,589,928 12,379,252 (2,241,588)
181,537 8,075,430 8,256,967 (8,490,060)
6,098,268 3,283,473 9,381,741 17,871,801
$ 6,279,805 $ 11,358;903 $ 17,638,708 $ 9,381,741
1 79
• CITY OF POWAY • 1
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual
City of Poway Debt Service Fund •
For the Year Ended June 30, 1999
1999 1998
Variance
Favorable
Budget Actual ( Unfavorable ) Actual
Revenues:
Interest and rentals $ 637,120 $ 589,735 $ (47,385) $ 349,939 '
Total Revenues 637,120 589,735 47,385) 349,939
Expenditures: '
Debt service:
Principal 800,000 800,000 695,000
Interest and fiscal charges 1,399,950 1,397,522 2,428 1,451,762
Bond issuance costs 22,413 '
Total Expenditures 2,199,950 2,197,522 2,428 2,169,175
(Deficiency) of Revenues
Over Expenditures (1,562,830) (1,607,787) (44,957) (1,819,236)
Other Financing Sources:
Operating transfers in 1,784,170 1,789,324 5,154 1,786,890
Excess (Deficiency) of ,
Revenues and Other ,
Sources Over Expenditures 221,340 181,537 (39,803) (32,346)
Fund Balance, Beginning 6,098,268 6,098,268 6,130,614 '
Fund Balance, Ending $ 6,3.19,608 $ 6,279,805 $. (39,803) $ 6,098,268
1
•
80
I
N
0 CITY OF POWAY •
Statement.of Revenues, Expenditures; and,Changes in Fund Balance
Budget and Actual
City of Poway Redevelopment Agency Debt Service Fund
For the Year Ended June'30, 1999
Revenues:
Taxes
Interest and rentals
Total Revenues
Expenditures:
Debt service:
Principal
Interest and fiscal charges
Bond issuance costs
Tax increment reimbursement
Total Expenditures
1999
Variance
Favorable
Budget Actual (Unfavorable)
..;
Actual
$ 12,783,560 $ 14,199,118 $ 1,415,558 $ 12,379,735
626,030 663,420 37,390 605,419
13,409,590 14,862,538 1,452,948 12,985,154
9,177,306
5,272,045
3,905,261
5,656,970
10,030,649
11,685,224
(1,654,575)
11,681,302
187,645
185,166
2,479
(4,429,236)
234,601
(234,601)
76,118
19,395,600
17,377,036
2,018,564
17,414
Total Other Financing
Sources (Uses)
(Deficiency) of Revenues
Revenues Other
Sources Over
t
Over Expenditures
(5,986,010)
(2,514,498)
3,471,512
(4,429,236)
Other Financing Sources (Uses):
Proceeds from long -term debt
11,973,922
10,319,973
(1,653,949)
2,307,457
'
Operating transfers in
4,383,457
4,176,158
(207,299)
4,067,026
Operating transfers out
(3,610,880)
(3,906,203)
(295,323)
(10,402,961)
Total Other Financing
Sources (Uses)
Fund Balance, Beginning
• Fund Balance, Ending
1
12,746,499 10,589;928 (2,156 ;571) (4,028,478)
6,760,489 8,075,430
3,283,473 3,283,473
11.741.187
$ 10,043,962 $ 11,358;903 $ 1,314,941 $ 3,283,473
81
1,314,941 (8,457,714)
Excess (Deficiency) of
Revenues Other
Sources Over
t
Expenditures and
Other Uses
Fund Balance, Beginning
• Fund Balance, Ending
1
12,746,499 10,589;928 (2,156 ;571) (4,028,478)
6,760,489 8,075,430
3,283,473 3,283,473
11.741.187
$ 10,043,962 $ 11,358;903 $ 1,314,941 $ 3,283,473
81
1,314,941 (8,457,714)
This page left blank intentionally.
1
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CAPITAL PROJECTS FUNDS
Park Improvement Fund Used to account for the financing and construction of
park facilities throughout the City.
Municipal Improvement Fund Used to account for financing and construction of
major capital facilities other than those financed by
the proprietary funds. Major capital, projects include
construction of government buildings, including City
Hall, fire station and warehouse facilities.
South Poway CFD #I Fund Used to account for financing and construction of
streets, water and sewer facilities in the South Poway
Business Park
Parkway Business Center Used to account for financing of grading and
CFD #88 -1 Fund construction of streets, water and sewer facilities
in Parkway Business Center.
High Valley Roads Used to account for financing and,construction of
AD 996 -1 Fund certain public infrastructure improvements
benefitting properties within the boundaries 'of the
Integrated Financing District No. 96 =1.
1 Redevelopment. Area Fund
I
I
Used to account for financing and construction of
projects of the Redevelopment Agency in
accordance with the' State's Health and Safety Code.
' 83
0
0
CITY OF POWAY
Combining Balance Sheet
All Capital Projects Funds
June 30, 1999
Assets
Cash and investments
Interest receivable
Notes receivable
Other receivable
Receivable under OPA
Due from other funds
Deposits
Advances to other funds
Fixed assets held for resale
Cash and investments with fiscal agents
Total Assets
Liabilities and Fund Balances
Liabilities:
Accounts payable
Accrued liabilities
Due to other funds
Deposits
Deferred revenue
Advances from other funds
Total Liabilities
Fund Balances:
Reserved:
Notes receivables
Deposits
Advances to other funds
Fixed assets held for resale
Capital projects
Unreserved:
Designated, for fair value adjustment
Undesignated (deficit)
Total Fund Balances
Total Liabilities and
Fund Balances
Parkway
South Business
Park Municipal Poway Center
Improvement Improvement CFD #1 CFD #88 -1
$ 901,282
$ 32,059
562
$ 9,856' $ 50,663
125,660
163,885
$ 1,026,942 $ 196,506
$ 1,678
307,228
308,906
125,660
$ 196,205
301
592,376
718,036 196,506
$ 9,856 $ 50,663
$ 9,856 $ 50,663
9,856 50;663
$ 1,026,942 $ 196,506 $ 9,856 $'50,663
IM
1
High
Valley
' Roads Redevelopment Totals
AD #96 -1 Area 1999 1998
' $ 10,871,154 $ 11,865,014 $ 11,336,410.
18,293 18,855 35,876
360,000 360,000 360,000
161,102 161,102 147
910,081
13,472 13,472 43,737
10,969 10,969 10,969
' 125,660 125,660
474,974 474,974 2,419;564
163,885 199,526
$ - $ 11,909,964 $ 13,193,931 $ 15,441,970
$ 116,388 $ 118,066 $ 839,465
24,764 24764 25,265
�. $ 129,018 129,018 129,018
23,946 23,946 23,946
36,450 36,450 964,425
307,228 307,228
129,018 201,548 639,472 2,289,347
360,000 360,000 360,000
10,969 10,969 10,969
125,660 125,660
474;974 474,974 2,419,564
256,724 251,619
�. 301 30,866
129,018 10,862,473 11, 325, 831 9,953,945
129,018 11,708;416 12,554,459 13,152,623
$ - $ 11,909,964 - _$.13,193,931 $ 15,441,970.
85
•
• •
CITY OF POWAY
Combining Statement of Revenues, Expenditures and Changes in Fund.Balances
All Capital Projects Funds
For the Year Ended June 30, 1999
Revenues:
Intergovernmental
Charges for services
Interest and rentals
Developer fees
Other
Total Revenues
Expenditures:
Current:
General government
Capital expenditures
Total Expenditures
Excess (Deficiency) of
Revenues Over Expenditures
Other Financing Sources (Uses):
Proceeds from long -term debt
Operating transfers in
Operating transfers out
Total Other Financing
Sources (Uses)
Excess (Deficiency) of Revenues
and Other Sources Over
Expenditures and Other Uses
Fund Balances, Beginning (Restated)
Fund Balances, Ending
Parkway
South Business
Park Municipal Poway Center
Improvement Improvement CFD #1 CID #,88 -1
$ 408,140
$ 9,089 $ 458 $ 2,354
408,140 9,089 458 2,354
24,861 7,237
24,861 7,237
383,279 1,852 458 2,354,
383,279
334,757
$ ,718,036
1,852 458 2,354
194,654 9,398 48,309
$ 196,506 $.,9,856 - $- 50,663
M
11 •
1,.
1
High
Valley
Roads Redevelopment Totals
AD #96 -1 Area 1999 1998
' $ 1,532,165
' $ 1,783,406 $ 1,783,406 2,179,560
544,284 556,185 1,048,780,
1,104,979 1,513,119 1,399,562
163,497 163,497 8,470
3;596,166 4,016;207 6,168,537
' (2,475,155) (2,087,212) (9,927,474)
' 2,121,819 2,121,819 3,558,074
322,101 322,101 2,085;426
' (954,872) (954,872) (2,152,562)
' 1,489,048 1,489,048 3,490,938
1 (986,107) (598 (6,436,536)
' $ 129,018 12,694,523 13,152,623 19,589,159
$ 129,018 $ 11,708 $ 12,554,459 $ 13,152,623
1
87
o.
3,190,879
3
3,427,948
2,880;442
1912,540
12,668,063.
,•
6,071,321
6;103,419
16,096,011
' (2,475,155) (2,087,212) (9,927,474)
' 2,121,819 2,121,819 3,558,074
322,101 322,101 2,085;426
' (954,872) (954,872) (2,152,562)
' 1,489,048 1,489,048 3,490,938
1 (986,107) (598 (6,436,536)
' $ 129,018 12,694,523 13,152,623 19,589,159
$ 129,018 $ 11,708 $ 12,554,459 $ 13,152,623
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0
ENTERPRISEFUNDS
Water Fund To account for the provision of water services to the
residents of the City. All.activities necessary to provide such
services are accounted for in this fund, including, but not
' limited to, administration, .operations, maintenance,
financing and related debf,service, and billing and collection.
Sewer Fund To account for the provision of sewer services to the
residents of the City. Al activities necessary to provide such
services are accounted for in this fund, including, but not
limited to, administration, operations, maintenance,
financing and related debt service, and billing and collection.
1
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Assets
Current Assets:
Cash and investments
Receivables (net, where
applicable of allowance for
estimated. uncollectibles):
Accounts
Inventories, at cost
Total Current Assets
Restricted Assets:
Cash and investments
Cash and investments
with fiscal,agents
Taxes receivable (net,
where applicable, of
allowance for estimated
uncollectibles)
Deposits
Total Restricted Assets
Other Assets:
Advances to other funds
Deferred charges
Total Other Assets
Property, Plant and Equipment:
Land
Buildings and structures
Improvements other
than buildings
Machinery and equipment
Construction in progress
Total Property, Plant
and Equipment
Less Accumulated Depreciation
Net Property, Plant
and Equipment
Total Assets
CITY OF POWAY
Combining Balance Sheet
All Enterprise Funds
June 30, 1999
Water Sewer
Fund Fund
r1
LJ
lo'
Totals
1999. 1998
$ 6,875,116 $ 14,386;288 $ 21,261,404 $ 20,924,727 F
1,582,757 589,718 2,172,475 2,182,577
X620,139 25,953 646,092 698,390
9;078,012 15,001,959 24,079,971 23,805,694
1
1,421,777
316,036
1,421,777 1,432,965
316,036 1,132,962 1
M
(Continued) I
3,359
3,359
6,729
13,378
13,378
13,378
1,754,550
1,754,550
2,586,034
3,862,411
7,276,166
11,138,577
12,326,834
188,674
188,674
208
4,051,085
7,276,166
11,327,251
12,535,311
76,797
76,797
76,797
18;821,620
668,204
19;489,824
19,057,967
20,511,805
15,613,233
36,125,038
34,056,759
870,912
560,508
1,431,420
1,325;788
1,977;499
1;977,499
3,562,836
40,204,337
18,896,241
59,100,578
58,080,147
(18,023,061)
(8,025,052)
(26,048,113)
(24,438,756)
22,181,276
10,871,189
33,052,465
33,641,391
$ 37,064,923
$ 33,149,314
$ 70,214,237
$ 72,568,430
M
(Continued) I
I
I
• CITY OF POWAY •
Combining Balance Sheet
All Enterprise Funds (Continued)
June 30, 1999
Liabilities and Fund Eauity
Current Liabilities (payable
from current assets):
Accounts payable
Accrued liabilities
Leases payable
Current Liabilities (payable
from restricted assets):
Bonds payable - due
within one year
Unredeemed matured bond
and interest payable
Totals
Water Fund Sewer Fund 1999 1998
$ 900,983 $ 302,170 $ 1,203,153 $ 1,325,283
146,160 17,310 163,470 135,928
17,126 17,126 16,137
1,064,269 319,480 1,383,749 1,477,348
520,000
94,239
520,000 500,000
94,239 915,212
614,239 614,239 1,415,212
Total Current Liabilities 1,678,508 319,480 1,997,988 2,892,560
i
1
Long -Term Debt Excluding
Current Installments:
General obligation bonds payable
2,767,634
2,767,634
3,159,605
Revenue bonds payable
2,888,413
2,888,413
3,004,813
Lease payable
120,926
120,926
138
Contract payable
5,407
5,407
5407
Total Long -Term Debt
5,782,380
5,782,380
6,307,877
Total Liabilities
7,460,888
319,480 7,780,368
9,200,437
Fund Equity:
Contributed capital 8,057,316 2,277,415 10,334,731 10,151,058
Less accumulated depreciation (688,707) (509,616) (1,198,323) (1,062,992)
Retained Earnings:
Reserved for debt service
Designated for fair
value adjustment
Unreserved
Total Retained Earnings
Total Fund Equity
Total Liabilities and
Fund Equity
7,368,609 1,767;799 9,136,408 9,088,066
1,698,619 1,698,619 1,713,415
137,184
20,536,807 31,062,035 51,598,842 52,429,328
22,235,426 31,062,035 53,297,461 54,279,927
29,604,035 32,829,834 62,433,869 63,367,993
$ 37,064,923 $ 33,149,314 $ 70,214,237 $ 72,568,430
91
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L•A
'
•
29 1,960,672
•
Maintenance and operations
3,041,055
5,534,125 8,575,180
CITY OF POWAY
Cost of purchased water
6,091,014
6,091,014
Combining ;Statement
of Revenues, Expenses, and Changes in Retained Earnings
1,190,642
' All
1,507,501
Enterprise Funds
(593,251) (970,456)
1,507,179
•
For the Year Ended June 30, 1999
Water Sewer
Totals
Fund Fund
1999
1998
Operating Revenues:
Charges for services
$ 10,291,890 $ 3,977;694
$ 14,269,584 $
13,464,525
Connection fees
736,514 786;623
1,523,137
1,212,676
1
Other
56,362 27,842
84,204
40,670
Total Operating Revenues
11,084,766 4,792
15,876,925
14,717,871
Operating Expenses
Personnel services
1,663,351
29 1,960,672
2,150,026
Maintenance and operations
3,041,055
5,534,125 8,575,180
6,515,189
Cost of purchased water
6,091,014
6,091,014
4,938,989
Depreciation
1,190,642
418,714 1,609,356
1,507,501
Total Operating Expenses
11,986,062 6,250,160 18,236,222 15,111,705
1•
I'
1
Operating Income (Loss)
Nonoperating Revenues (Expenses):
Taxes
Interest revenue
Interest expense and fiscal
agent charges
Total Nonoperating
Revenues (Expenses)
Income (Loss) Before
Operating Transfers
Operating Transfers:
Transfers out
(901,296) (1,458,001) (2,359,297) (393,834)
463,587
463,587
510,795
404,846
864,750 ' 1,269,596
1,754,590
(344,342)
(344,342)
(364,372)
524,091
864,750 1,388,841
1,901,013
(377,205)
(593,251) (970,456)
1,507,179
(35,430)
Depreciation on contributed capital 104,982 .30,350 135,332 67,491
Decrease in Retained Earnings
Retained.Earuings, Beginning
(272,223)
22,507,649
(562,901)
(835,124)
1,539,240
' Residual Equity Transfers Out
• Retained Earnings, Ending
1
1 1
31,772,278
54,279,927
54,119,378
(147,342) (147,342) (1,378,691)
$ 22,235,426 $ 31,062,035 $ 53,297,461 $ 54,279,927
93
0 0
CITY OF POWAY
Combining Statement of Cash Flows
All Enterprise Funds
For the Year Ended June 30, 1999
Cash Flows from Operating Activities:
Operating (loss)
Adjustments to reconcile operating income (loss)
to net cash provided by operating activities:
Depreciation
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable
(Increase) decrease in inventories
( Derease) in accounts payable
Increase (decrease) in accrued liabilities
Water Fund
$ (901,296)
1,190,642
Sewer Fund
$ (1,458,001)
418,714
Net Cash Provided by (Used for)
Operating Activities
Cash Flows fir m Non- Capital Financing Activities:
Taxes
Operating transfers out
Repayment of advances to other funds
Loan from other funds
Net Cash Provided by (Used for)
Non - Capital Financing Activities
Cash Flows from Capital and Related Financing Activities:
Interest expense and fiscal agent charges
Principal payments on long -term borrowing
Acquisition of property, plant, and equipment
Net Cash Used for Capital and
Related Financing Activities
Cash Flows from Investing Activities:
Interest received
Net Decrease in Cash and Cash Equivalents
Cash and Cash Equivalents, Beginning
Cash and Cash Equivalents, Ending
189,822
(179,720)
54,055
(1,757)
(78,820)
(43
34,088
(6,546)
488,491 (1,270,620)
465,548 1,410
I
1
I
I
I
!1
1,188 •�
465,548 1,189,667 o
i
(1,133,883)
(516,137)
(439,453)
(544,646)
(2;089;473) (544,646)
404,846 864,750
(730,588) 239,151
9,343,517 14,147,137
$ 8,612,929 $ 14,386;288
i
1
I
94 1
1�
Totals
1999 1998'
' $ (2,359,297) $ '(393
1,609,356 1,507,501
10,102 522;644
52,298 48;329
(122,130) (56;040)
27,542 (6
(782,129) 1,621,733
466,958 512,488
�.' (35,430).
1,188,257 (3,300,000)
(3,984)
' 1,655,215 (2
(1,133,883) (472
(516,137) (500
(984,099) (2,217,233)
(2,634,119) (3
1 1,754,590
(491 (2,640,535)
23,490,654 26,131,189
$ 22,999,217 $; 23,490
' (Continued)
' 95
0 0 ,
CITY OF POWAY
Combining Statement of Cash Flows
All Enterprise Funds (Continued) •
For the Year Ended June 30, 1999
Reconciliation of Cash Equivalents to the Balance Sheet:
Total cash and investments per the balance sheet
Total restricted assets per the balance sheet:
Cash and investments
Cash and investments with fiscal agents
Water Fund Sewer Fund
$ 6,875,116 $ 14,386,288
1,421,777
316,636
Cash and Cash Equivalents at the End of Year
$ 8,612,929 $ 14,386,288
I
I
01
fr
i
Noncash Investing, Capital and Financing Activities:
The Water Enterprise Fund acquired $183,674 of fixed assets through contributed capital
during the year ended June 30, 1999. Of this amount, $147,342 was contributed.by the Sewer
Enterprise Fund.
I
�r
i
Totals
1999 1998
$ 21,261,404 $ 20,924
1,421,777 1,432,965
316,036 1,132;962
$ 22,999,217 $ 23,490,654
10
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1 0
INTERNAL SERVICE FUND
Vehicle Maintenance Fund
I
I*
`1
I
I
' 99
*.
Used to account for the costs of operating a
maintenance facility for automotive
equipment used, by other City departments.
Such costs to:other departments are billed on
a direct cost basis. The Vehicle Maintenance
Fund is responsible for financing
replacement vehicles, as necessary.
0
0
CITY OF POWAY
Comparative. Balance Sheet
Vehicle Maintenance Internal Service Fund
June 30, 1999
Assets
Current Assets:
Cash and investments
Accounts receivable
Total Assets
1999 1998
$ 3,088,107 $ 2,880,757
7,829
$ 3,088,107 $ 2,888,586'
Liabilities and Fund Equity
Current Liabilities:
Accounts payable
Accrued liabilities
Total Liabilities
Fund Equity:
Retained Earnings:
Reserved for equipment replacement
Designated for fair value adjustment
Toted Equity
Total Liabilities and Fund Equity
$ 27,476 $ 67,897
17,479 13,612
44,955 81,509
3,043,152 2,797,219
9,858
3,043,152 2,807,077
$ 3,088,107 $!2,888;586
100
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CITY OF POW_ Y •
A
Compatative Statement of Revenues, Expenses, and Changes in Retained Earnings
Vehicle Maintenance Internal Service Fund
For the Year Ended June 30 1999
1999 1998
Operating Revenues: -
Charges for services
Other
Total Operating Revenues
Operating Expenses:
Personal services
Maintenance and operations
Total OperatineExpenses
Operating Income
Nonoperating Revenue:
Interest revenue
Income Before.Operatirig Transfers
Operating Transfers:
Transfers out
Net Income (Loss)
Retained Earnings, Beginning
Retained Earnings, Ending
$ 963,510 $ 965,185
5,993. 19,192
969,503 984,377
185,375
184,547
301,488
358,062
486,863
542,609
482,640
`441,768
143,999 177,906
626,639 619,674
(390;564) (705,041)
236,075 (85,367)
2,807,077 2,892,444
$ 3,043,152 $ 2,807,077
101
•
CrrY OF POWAY
Comparative Statememof Cash Flows
Vehicle Maintenance Internal Service Fund
For the Year Ended "June 30, 1999
1 nnn
Cash Flows from Operating Activities:
Operating income
Adjustments to reconcile operating income
to net cash.provided by operating activities:
Changes in operating assets,and.habilities:
(Increase) decrease in accounts receivable
(Decrease) in accounts payable
Increase'in accrued liabilities
Net Cash Provided by Operating Activities
Cash Flows from Non - Capital and
Related Financing Activities:
Operating transfers out
Cash Flows fi - otn Investing Activities:
Interest received
Net Increase (decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents, Beginning
Cash and Cash Equivalents, Ending
$ 482,640
7,829
(40,421)
3,867
453,915
1998
$ 441,768
(7,829)
(192,967)
2,992
243,964
(390,564) (705,041)
143,999 177,906
207,350 (283,171)
2,880,757 3,1'63,928
$ 3,088,107 $ 2,880,757
1101A
I
1
11
10
[1
11
1
1
I
FIDUCIARY FUNDS
NONEXPENDABLE TRUST FUND
Mary Patricia Ross Trust Fund
Used to account for revenues and expenses
provided by a_ private estate to finance
community park and recreation purposes. The
principal must be maintained intact until 2006.
Interest income must also be used to finance such
recreational purposes.
Library Trust Fund
Used to account -for a donation to the City which
is to be held.in perpetual hest. The.income from
the principal is to be used for library supplies and
services.
EXPENDABLE TRUST FUNDS
Bendixon Trust Fund
Used to account for money provided by private
donors restricted to maintenance of riding and
hiking trails..
Poway Road Beautification Tnist Fund
Performing Arts Center Trust Fund
Used to account for money provided_ by
Expendable Trust Fund donors restricted to
beautification efforts along Poway Road,
Used to account for money provided by
donors restricted to Performing Arts Center
construction.
AGENCYFUNDS
Developer Deposits
South Poway CFD #1 Bond Deposits
Used to account for the collection and payments
of development deposits. from 'and on behalf of
the collective and individual developers.
Used to account for debt service payments
CFD#I Bond Deposits collected through
property tax assessments remitted to fiscal agent -
trustee for payment on bonds.
103
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11111!
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0 •
FIDUCIARY FUNDS .(Continued)
AGENCYFUNDS
Parkway Business Center CFD 488 -1
Bond Deposits
Used to account for debt service payments
CFD #88 -1 Bond Deposits collected through
property tax assessments remitted to fiscal
agent- trustee for payment on bonds.
High Valley Roads AD 496 -1
Bond Deposits
Used to account for debt service payments
CFD 9964 Bond Deposits collected through
property tax assessments remitted to fiscal
agent - trustee for payment on bonds.
' 105
CITY OF POWAY
Combining Balance Sheet
All Fiduciary.Funds
June 30, 1999
•
Nonexpendable
Trust Funds
Expendable
Trust Funds
Mary
Poway
Patricia.
Road
Performing
Ross Library
Bendixon
Beautification
Arts Center
Assets
,!
Cash and investments
$ 56,647 $ 781
$. 13,513
$ 6,647
Receivables:
Taxes
Accounts
Interest
Cash and investments with
fiscal agents
Total Assets
$ 56 $ 781 -,411
$ 13,513
$ 6
$ -
Liabilities Fund Balances
y
and
Liabilities:
Accounts payable
Deposits
Due to bondholders
$ 8,775
Advances from other funds
Total Liabilities
8,775
,.
Fund Balances:
Reserved for capital projects
$ 56,647 $ 781,411
$ 13,513
$ 6,647
Unreserved:
Designated :for fair value
adjustment
Undesignated
8,775
,
Total Fund Balances
56,647 781,411
13,513
6,647
8,7.75
Total Liabilities and
Fund Balances
$ 56,647 $ 781;411
$ 13,513
$ 6,647
$ -
•
106
,
i
1
Agency Funds
Parkway High
Business Valley
South Poway Center Roads
Developer CFD #1 CFD #88 -1 AD #96 -1 Totals
Deposits Bond'Deposits Bond Deposits Bond Deposits 1999 1998
$ 2,342,370 $ 1,557,344 $ 1,767,054 $ 45,799 $ 6,570,785 $ 6,244,850
Im
858,218 879,495
247
(8,775) (8,775)
849,443 870,967
$2,342,370 $ 4,215,130 $ 9,276,538 $ 100,799 $ 16,793,055 $ 16,938,061
107
■
13,946
4,722
85
18,753
78,461
4,429,605
4,429,605
4,509,844
9,363
10,890
188
20,441
25
'
2,634,477
3;064
54,727
5,753,471
6,079
$ 2,342,370
$ 4,215,130
$,9,276,538
$ 100,799
$ 16;793,055
$ 16,938,061
$ 98,174
$ 400
$ 3,983
$ 102,557
$ 78,685.
2,244,196
2,252,971
2,264,131
$ 4,215,130
4,846,534
96,816
9,158,480
9,222,131
4;429,604
4,429,604
4,502,147
'
2,342,370
4,215,130
9;276,538
100,799
15;943,612
16,067,094
Im
858,218 879,495
247
(8,775) (8,775)
849,443 870,967
$2,342,370 $ 4,215,130 $ 9,276,538 $ 100,799 $ 16,793,055 $ 16,938,061
107
• 0
CITY OF POWAY
Combining Statement of Revenues, Expenses, and Changes in Fund Balances
All Nonexpendable Trust Funds
For the Year Ended June 30, 1999
Mary
Patricia Totals
Ross. Library 1999 1998
Operating Revenues:
Interest $ 2,631 $ 38,433 $ 41,064 $ 56
Operating Expenses
Maintenance and operations
23,084
23,084
41,546
Operating Income
2,631
15,349
17,980
14,604
Operating Transfers:
Operating transfers out
(40,441)
40,441
54,435)
Net Income (Loss)
2,631
(25,092)
(22,461)
(39,831)
Fund Balances, Beginning
54,016
806,503
860,519
900,350
Fund Balances, Ending
$ 56,647
$ 781,411
$ 838,058
$ 860,519
[toy.
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1
0 •
CITY OF POWAY
Combining Statement of Cash Flows
All Nonexpendable Trust Funds
For the Year Ended June 30,'1999
Cash Flows from Operating Activities:
Operating income
Adjustment to reconcile operating income
to net cash from operating activities:
Increase (decrease) in accounts payable
Interest income
I
I
110
Cash and Cash Equivalents,
Beginning
Cash and Cash Equivalents, Ending
Mary
Patricia Totals
Ross Library 1999 1998
$ 2,631 $ 15;349 $ 17,980 $ 14,604
(19,524) (19,524) 19,524
2,631 38;433 41,064 56,150
42,608 42,608 22,022
40,441 40,441 54,435
40,441 40,441 54 „435
2,631 38,433 41,064 56,150
2,631 (44,616) (41,985) (20,307)
54,016 826,027 880,043 900,350
$ 56;647 $ 781,411 $ 838,058 $ 880,043
1 109
Net Cash (Used for).
Operating Activities
Cash Flows from Non - Capital and
'
Related Financing Activities:
Operating transfers out
Net Cash (Used for).
Non - Capital and Related.
1
Financing Activities
Cash Flows from Investing Activities:
Interest received
Net Increase (Decrease) in
'
Cash and Cash Equivalents
I
I
110
Cash and Cash Equivalents,
Beginning
Cash and Cash Equivalents, Ending
Mary
Patricia Totals
Ross Library 1999 1998
$ 2,631 $ 15;349 $ 17,980 $ 14,604
(19,524) (19,524) 19,524
2,631 38;433 41,064 56,150
42,608 42,608 22,022
40,441 40,441 54,435
40,441 40,441 54 „435
2,631 38,433 41,064 56,150
2,631 (44,616) (41,985) (20,307)
54,016 826,027 880,043 900,350
$ 56;647 $ 781,411 $ 838,058 $ 880,043
1 109
• 0
CITY OF POWAY
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
All Expendable, Trust. Funds
For the Year Ended'June 30, 1999
110
Poway
Road
Performing.
Beautifi-
Arts
Totals
Bendixon
cation
Center
1999
1998
Revenues:
Interest
$ . 628
$ 309
$ 937
$ 911
Other
681
Total Revenues
628
309
937
1,592
Fund Balances, Beginning
12,885
6;338
$ 8,775
10,448
8,856
Fund Balances, landing
$ 13,513
$ 6,647
$. 8,775
$ 11;385
$ 10,448
110
CITY OFP.OWAY �.
Combining: Statement of Changes in Assets and Liabilities
All Agency Funds
For the Year Ended June 30, 1999
' Balance
Developer Deposits Fund July 1, 1998 Additions Deletions
Assets
Cash and investments
Interest receivable
Total Assets
I
I
N
1
I
I
1
Liabilities
Accounts payable
Deposits
Total Liabilities
$ 2,310,109 $ 1,840,473 $ 1,808,212
283 283
Balance
June 3.0, 1999
$ 2
$ 2,310,392 $ 1,840,471 $ 1,808,495 $ 2,342,370
$ 55,036
$ 1,652,646
$ 1,609,508
$ 98,174
'2,255,356
187,827
198,987
2,244,196
$ 1,880,486
$ 1,767,054
$ 2,310,392
$ 1,840,473
$ 1,808,495
$ 2,342,370
$ 1,557,344
Taxes receivable
South Poway CFD #1 Bond Deposits
Assets
$ 103,863
$ 3,543,677
$ 1,880,486
$ 1,767,054
Cash and investments
$ 2,894,308
$ 3,061,475
$ 4,398,439
$ 1,557,344
Taxes receivable
44,626
13,946
44,626
13,946
Interest receivable
12,577
9,363
12,577
9,363
Cash and investments with
fiscal agents
3,077,518
5,721,272
6,164,313
2,634,477
Total Assets
$ 6,029,029
$ 8,806,056
$ 10;619,955
$ 4
Liabilities
Due to bondholders
$ 6,029,029
$ 8,806,056'
- $ 10;619,955
$ 4,215;130
Parkway Business.Center
CFD #88 -1 Bond Deposits
Assets
Cash and'investments
$ 103,863
$ 3,543,677
$ 1,880,486
$ 1,767,054
Taxes receivable
32,148
4,722
32,148
4,722
Accounts receivable
4,509,844
80,239
4,429,605
Interest receivable
12,469
10,890
12,469
10,890
Cash and investments with
fiscal agents
2,947,170
142,348
25,251
3,064,267
Total Assets $ 7,605,494 $ 3,701,637 $ 2,030,593 $ 9,276,538
(Continued)
!' 111
• CITY OF POWAY 0
Combining Statement of Changes in Assets and Liabilities
All Agency Funds (Continued)
For the Year Ended June30, 1999
Balance
July 1, 1998 Additions
Deletions
I
40 1
Balance ,
June 30. 1999
Liabilities
Accounts payable $ 400 $ 400
Due to bondholders $ 3,103,347 3,701,237 $ 1,958,050 4,846,534
Advances from other funds 4,502,147 72,543 4,429;604
Total Liabilities $ 7,605,494 $ 3,701,637 $ 2,030,593 $ 9
High Valley Roa
AD #96 -1 Bond Deposits
Assets '
Cash and investments
$
37,304
$
107,564
$
99,069
$
45,799
Taxes receivable
1,687
85
1,687
85
Interest receivable
223
188
223
188
Cash and investments with
fiscal agents
54,666
33,717
33,656
54,727
Total,Assets
$
93,880
$
141
$
134,635
$
100;799
Liabilities
Account payable
$
4,125
$
3,983
$
4,125
$
3,983
Due to bondholders
89,755
137,571
130,510
96,816
'
Total Liabilities
$
93,880
$
141,554
$
134,635
$
100,799
Total - All AQencv.Funds
Assets
'
Cash and investments
$
5,345;584
$
8,553,189
$
8
$'
5,712,567
Accounts receivable
4,509,844
80,239
4 429
Taxes receivable
78,461
18,753
78,461
18,753
Interest receivable
25,552
20,441
25,552
20;441
Cash and investments with
fiscal agents
6,079,354
5
6,223,220
5,753,471
,
Total Assets
$
16,038,795
$
14,489,720
$
14,593,678
$
15,934,837
Liabilities
,
Accounts payable
Deposits
Due to bondholders
Advances from other funds
Total Liabilities
$ 59,161' $ .1
2 187,827
9,222,131 12,644,864
4,502,147
$ 16,038,795 $ 14,489,720
$ 1,613,633 $ 102;557
198,987 2,244,196 ,
12,708,515 9
72,543 4 •
$ 14,593,678 $'15,934,837
112 1
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ACCOUNT GROUPS'
General Fixed Assets
General Long -Term Debt
Used to accountfor the cost of fixed assets that are
used in the performance. of general government
functions and that are not - accounted for in the
proprietary funds.
Used to account for the unmatured long -term
indebtedness of the City and Redevelopment Agency
not accounted for in the proprietary funds.
lot]
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114
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CITY OF POWAY r
Comparative Schedule of General'Fixed Assets
by Source!
June 30, 1999
General Fixed Assets:
Land
Buildings
Improvements other than buildings
Machinery and equipment
Construction in progress
1999
$ 43,510,522
45,008,063
3,131,323
8,579,452
$:100,229,360
1998
$ 43,510,522
44,217,364
2,882,389
7,976,928
715,035
S
Total General Fixed Assets
Investments in General Fixed Assets:
General Fund revenues
Special Revenue Fund revenues
Capital.Projects Funds:
State grants
Donations
Bond proceeds
Federal grants
Transfer from prior water districts
Total Investments in General Fixed Assets
$ 86,726,453 $ 85,799,331
7,097,031 7,097,031
237,514
237,514
1,987,442
1,987,442
262,922
262,922
1,096
1,096
3,916;902
3
$ 100,229,360 $ 99,302,238
1 115
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CITY OF POWAY
Schedule of General Fixed Assets
by Function and Activity
June 30, 1999
Function and Activi
General Government:
Manager
Clerk
Personnel
Finance and Administration
Other -
Services
Government Buildings
Total General Government
Public Safety:
Safety
Fire
Paramedics
Inspection
Total :Public Safety
Highways and Streets:
Engineering
Maintenance
Total .Highways and Streets
Culture and Recreation
Mobilehome Parks
Total General Fixed Assets
Improvements
Other "than
Land Buildings Buildings
$ 33,674
$ 117,796 413,793
2,880,380
425,748
$ 403,390
1,997,057
10,879, 140
141,271
309,156
4,995,233
11,752,355
544,661
5,509,251 18,215
100,226
5,609,477 18,215
309,156
.592,059
214,377
309,156
592,059
214,377
13,388,156
11,438,693
626,710
24, 817, 977
15, 615, 479
1,727;360_
$ 43,510,522
$ 45,008,063
$ 3,131,323
116
Machinery
' and
Equipment Total
$ 29,815 $ 63,489
149,992 149;992
4,648 4;648
1,346,985 1,878,574
1,778,545 5,488;063
914,478 13,931,946
4,224,463 21,516,712
725,340 6,252,806
N 1,078,420 1,178,646
188,411 188,411
40,500 40,500
2,032,671 7,660,363
' 77,502 77,502
' 1,509,246 2,624,838
1,586,748 2 ;702,340
718,491 26,172,050
17 42,177,895
$ 8,579 ; 452$ 10,0,229
117
0
I
CITY OF POWAY
Schedule of Changes. in General Fixed Assets
by Function and Activity
For the Year Ended June 30, 1999
Function and Acti jV
General Government:
Manager
Clerk
Personnel
Finance and Administration
Other -
Services
Government Buildings
Total General Government
Public Safety:
Safety
Fire
Paramedics
Inspection
Total Public Safety
Highways and Streets`.
Engineering
Maintenance
Total Highways and Streets
Culture and Recreation
Mobilehome Parks
Total General Fixed Assets
General
214,270
Fixed
General
Assets
Fixed
July 1, 1998
Assets
(As Restated) Additions
Deletions, June 30, 1999
$ 63,489
134,830
4,648
1,840,197
$ 15,162
38,377
$ 63,489
149,992
4,648
1,878,574
1
I
I
5,273,793
214,270
5,488,063
13,818,978
323,996
$ 211,028
13,931,946
,
21,135,935
591,805
211,028
.21,516,712
,
6,110,077
219,127
(76,398)
6,252,806
1,154,430
24,216
1,178,646
147,725
40,686
188,411
40,500
40,500
7,452,732
284,029
76,398
7,660;363
,
60,841
16,661
77,502
2,507,938
544,509
427,609
2,624,838
,
2,568,779
561,170
427,609
2,702,340
25,966,897
.205,153
26,172,050
42,177,895:
42,177,895
$99;302,238
$1,642,157
$ 715,035
$.100,229360
118 1
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CITY OF POWAY •
Comparative Schedule of General Long -Term Debt
June 30, 1999
Amount Available and to be Provided for
the Payment of General Long -Term Debt:
Amount available in debt service funds
Amount to be provided
Total Available and to be Provided
General Long -Term Debt Payable:
Tax allocation bonds payable
Tax allocation notes
Certificates of participation
Advances from other funds
Contract payable
Notes payable
Obligations under capital leases
Total General Long -Term Debt Payable
119
1999
$ '17,638,708
210,791,253
& 228,429,961
$ 1
7,945,000
55,000,000
24,919,512
43,634
26,521,602
330,213
$ 228;429,961
FUR
$ 9,381,741
216,745,997
$ 226,127,738
$ 115,685,000
55,810,000
25,649,512
44,280
28,570,133
368,813
$ 226,127,738
0 0
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120
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STATISTICAL SECTION
LJ
0 0
CITY OF POWAY
General Governmental Expenditures by Function (l)
Last Ten Fiscal Years
Fiscal
General
Public
Public
Community
Capital
Year
G overnment
Safety
Works
Services
Expenditures
1990
$ 5,726,143
$ 5,563,163
$ 4,108,962
$ 3,532,117
$ 33,314,917
1991
5,680,185
8,212,765
2,562,230
3,487,041
55,427,599
1992
5,487,555
8,019,225
2,584,301
4,009;375
27,891,391
1993
6,954,504
8,322,611
2,605,336
4,289,493
18,690,422
1994
6,018,367
8,371,953
3,001,012
4,216,928
18,312,184
1995
6,555,752
8,156,328
3,040,823
4,375,933
12,711,970
1996
6,758,341
8,554,473
2,248,039
5,151,534
32;408,989
1997
7,822,743
8,884,438
4,661,719
5,068,108
23,553,095
1998
7,758,604
7,704,342
6,035,135
4,921,563
20;385,782
1999
9,428,221
9,958,312
3,343,102
5,266,558
8,213,245
Notes:
(l) Includes all governmental fund types
Source: City Administrative Services Department
122
TABLE 1
1 Debt
Service Total
$ 7;465,211 $ 59,710,513
i 11,911,077 87,280,897"
23,317,449 71,309,296
1
21,761,546 62,623,912
i 29,469;665 69,390,109
17,341,788 52,182,594
32, 901,191 88,022,567
' 18,596,415 68,586,518
10 19,619,370 66,424,796
' 19,574,558 55,783,996
i
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123
(1) Includes all governmental fund types:and an expendable trust fund. ,
(2) Includes property taxes for Redevelopment Agency. .,
Source: City Administrative Services Department
124 ,
•
1
CITY OF POWAY
General Governmental Revenues by Source
Last Ten Fiscal Years
.
Licenses
Intergovern-
Charges
Fiscal
and
mental
for
Fines and
Year
_ Taxes
Permits
Revenues
Services
Forfeitures
'
1990
$ 14,824,205
$ 398,748
$ 2 ;751,273
$ 7,466,928
$ 139,312
1991
18,695,696
394,812
2,991,647
7,364,057
146,838
1992
18,702,862
352,341
3,492,141
6,047,267
95,080
1993
18,952,451
340,884
3,643,717
6,532,158
71,747
'
1994
20,065,771
335
10,363,173
7,061
91,593
1995
20,865,001
326,041
12;048,349
6,746,721
72,140
1996
21,187,183
299,810
12,912,925
7,550,017
67,799
'
1997
20,941,439
281,610
5,013,053
8,826;878
71,477
1998
23
257 ;818
8,837,630
10,584,717
86,273
1999
26,047,002
262,482
4,678,887
10,207,646
210,762
TABLE 2A
CITY
OF POWAY
General Governmental Tax Revenues by Source
Last Ten Fiscal Years
Fiscal
Property
Franchise
Motor
,
Year
T ax (2)
Sales Tax
Tax
Vehicle Tax
Total
1990
$ 9.,905,769
$ 2,790,198
$ 338,865
$ 1,789,373
$ 14,824,205
'
1991
13
2,571,959
398,823
1,809,872
18,695,696
1992
13,920,524
2,672,052
403,911
1,706,375
18,762,862
1993
13,588,578
3,251,723
510,581
1,601,569
18,952,451
1994
1995
14,251,274
14,959,431
3,659,912
3,639,756
593,164
627,215
1,561,421
1,638,599
20,065,77.1
20,865,001
'
1996
15,184,101
3,696,899
597,782
1,708,401
21,187,183
1997
14,338,241
4,149,019
618,386
1,835,793
20941,439
1998
15,451,792
4,902,359
714,901
1,951,997
23,021,049
'
1999
17,460,797
5,714,050
764,077
2,108,078
26,047,002
,
Notes:
(1) Includes all governmental fund types:and an expendable trust fund. ,
(2) Includes property taxes for Redevelopment Agency. .,
Source: City Administrative Services Department
124 ,
TABLE 2
' Interest
and
Rentals Other Total
$ 8,680,108 $ 2,535,849 $ 36,796,423
8 833,021 9,288,421 47,714,492
8,351,217 2,574,632 39,615,540
8,226,841 1,961,333 39,729,131
8,995,116 1,121,228 48,033,907
8,233,586 651,515 48,943,353
7,508;118 1,630,809 51,156,661
6,729,950 1,508,10 43,372,508
t 8,243,028 2,161,644 53;192,159
7,738,120 3,119,416 52,264,315
1
125
0 0
CITY OF POWAY
Property Tax Levies and Collections
Last Ten Fiscal Years
Source: County of San Diego, Auditor and Controller's Office
126
Current Percent Delinquent
Delinquent
Fiscal
Year Current Tax of Levy Tax
Tax
Year
Tax Levy Collections Collected Receivable.
Collections
1990
$ 8,009,185 $ 7,812,459 98 % $ 518,976
$ 115,233
1991
9,136,715 8,689,581 95 196,617
230,400
1992
12,639,697 12,284,495 97 377,585
424,816
1993
9,604,741 9,156,139 95 484,933
400,191
1994
12,855,280 9 74 548,364
386
1995
14,285,101 tl) 8,350,135 t2) 58 (3) 31743,833 (4)
269,023 (5)
1996
12,712,597 t9) 9,195,911 t10) 72 tll) 8,701,856 t")
811,738 (13)
1997
t ' 7) 13,967,053 13,834,167 99 327,952.
511,601
1998
13,052,091 12,731,719 99 244,785
225,298
1999
13,302,138 13,088,362 98 191,183
201,592
Notes:
(1)
Includes Community Facilities Districts assessments of $7,005,288.
(2)
Includes Community Facilities- Districts,collections of $1,515,168.
(3)
This percentage is 94% excludingthe,amounts'for the Community Facilities Districts.
(4)
Includes Community Facilities Districts receivables of $3,110,877.
(5)
No collections: for Community.Facilities
(6)
This percentage is 98% excluding the.Community Facilities Districts.
C 7)
Includes $8 for Community Facilities Districts.
($)
This percentage is 15% excluding th Community Facilities Districts.
(9)
Includes Community Facilities District . #88-1. assessments of$4,236,818.
(10)
Includes Community Facili ties District #884 collections of $935;580.
(11)
This' percentage is 97% excluding the amounts, for CID #88 -1.
(12)
Includes Community Facilities District-#88-1 receivable of $7,527,270.
(13)
Includes Community Facilities District #88-.1. collection of $196,928.
(14)
This percentage 105% excluding Community Facilities District #88 -1.
(ls)
Includes $10,631,580 for CID #88 -1.
(16)
This percentage is 16% excluding CID #88 -1.
(h)
During fiscal year 1996 -97, Community Facilities District. #88 -1, had its delinquent
assessments from prior years forgiven and was current for its fiscal year 1996
-97.
Source: County of San Diego, Auditor and Controller's Office
126
' •s
TABLE 3
' Percen Percent of
Total Tax Outstanding Delinquent
Total Tax+ Collections Delinquent Taxes to
Collections to Tax Levy Taxes Tax Levy
$ 7,927,692 99 % $ 715,702 9 %
8,919,981 98 643,751 7
12,709,311 101 732,787 6
9,556,330 99 933,535 10
' 9,972,059 78 3,817,946 30
8,619,158 60 (6) 9,678,799 m 68 (8)
' 10,007,649 79 (14) 12,218,542 96 (16)
14,345,768 104 460,838 3
13,099,539 100 422,635 3
13,349,954 100 404,959 3
1
127
LJ
• CITY OF POWAY •
Assessed and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
Source: County of San Diego Assessor's Office
128
Real Property
Personal Property
Fiscal
Assessed
Estimated
Assessed
Estimated
Year
Value
Actual Value
Value
Actual Value
1990
$ 2,052,405,447
$ 2,652,405,447
$ 30,240,937
$ 30,240,937
1991
2,413,737,613
2,413,737,613
37,219,612
37,219,612
1992
2,684,903,547
2,684,903,547
44,186,797
44,186,797
1993
2,858,029,834
2,858,029,834
54,214,861
54,214,861
1994
2,964,014,503
2,964,014,503
69,952,694
69,952,694
1995
3,014,899,373
3,014,899,373
76,590,235
76,590,235
1996
3,060,395,506
3
85,193,678
85,193,678
1997
3,052,732,206
3,052;732,206
87,641,025
87,641,025
1998
3,135,010,184
3,135,010,184
88,447,865
88,447,865
1999
3,353,922,981
3,353,922,981
118,083,485
118,083,485
Source: County of San Diego Assessor's Office
128
• TABLE 4
' Total Percent
Assessed Estimated Change From
Value Actual Value Previous Year
$ 2,082,646,384 $ 2;082,646,384 18 %
' 2,450,957,225 2 ; 450,957,225 18
2,729,090,344 2,729,090,344 11
2,9.12,244,695 2,912,244,695 7
3 3;033,967, 197 4
't 3;091,489,608 3,091,489,608 2
3 ,145;589 3,145,589,184 2
3,140,373,23,1 3,140,373,231 (0.2)
LO 3 1 223,458,049 3,223,458;049 3
3,472,006,466 3,472,006,466 8
129
•
• CITY OF POWAY • TABLE 5
Property Tax Rates - Direct and Overlapping Governments
(Per $100 of Assessed Value)
Last Ten Fiscal Years
Fiscal
School
Other
Year
city
Coun
District
District
Total
1990
27807
.25000
.46636
.11147
1.10590
1991
.26594
.25000
.46636
.11147
1.09377
1992
.25841
.25000
.46636
.11147
1.08624
1993
.25440
.25000
.46636
.11147
1.08223
1994
.27516
.16722
.50771
.12620
1.07629
1995
.27370
.16722
.50771
.12598
1.07461
1996
.27349
.16722
.50771
.12585
1.07427
1997
.23434
.16722
.50771
.12612
1.03539
1998
.23234
.16722
.50771
.12540
1.03267
1999
.22954
.16722
.50771
.12380
1.02827
Source: County of San Diego Auditor and Controller's Office and Planning and Land Use
Development.
130
t
CITY OF POWAY
Ten Largest Taxpayers
June 30, 1999
Name
Burnham Pacific Operating Partnership
Parkway Development LLC
Pacific Retail Trust
Health Care Property Investors
Braemar Properties LP
Beecro8, Joseph N. & Lois M.
Stoneridge Country Club Corp.
Spectrum Investments LLC
Retail Trust III
VAT Partners
0
lM114m .
Assessed
Percentage
Valuation
of Total
$ 20,039,000
15.9
%
14,602,830
11.6
%
13,962,157
11.1
%
13,780,000
11.0
%
13,604,900
10.8
%
12,715,376
10.1
%
11,657,557
9.3
%
8,738,136
6.9
%
8,501,401 6.8 %
8,192,487 6.5 %
$ 125,793,844 100 %
Source: San Diego County Assessor's Office and City Finance Division
131
0 0
CITY OF POWAY TABLE 7
Special Assessment Collections
Last Ten Fiscal Years
(1) Bonds were retired in fiscal year ended June 30, 1996.
Source: City Administrative Services Department
132
Current
Current
Ratio of
Total
Fiscal
Assessment
Assessment
Collections
Outstanding
Year
Due
Collected
To Amount Due
Assessments
1990
$ 213,209
$ 200,146
94
$ 13,063
1991
212,210
180,172
85
32,038
1992
215,209
187,447
87
27,762
1993
209,640
194,214
93
15,426
1994
216,707
196,692
91
20,015
1995
182,262
178,082
98
4,180
1996
-0-
-0-
-0-
-0-
1997
-0-
-0-
-0-
-0-
1998
-0-
-0-
-0-
-0-
1999
-0-
-0-
-0-
-0-
(1) Bonds were retired in fiscal year ended June 30, 1996.
Source: City Administrative Services Department
132
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CITY OF POWAY
Computation of Legal Debt Margin
June 30, 1999
Total Valuation (1)
Debt Limit - 15 percent of total valuation
Amount of Debt Applicable
to Debt Limit:
Bonded Debt
Less Amounts Available for
Repayment of Debt:
Held by Debt Service Fund
Total Amount of Debt Applicable
to Debt Limit
Legal Debt Margin
$ 543,484,205
$ 81,522,631
1,788,223
$ 79,734,408
Note:
25% of the assessed valuation, after deducting redevelopment tax allocation increment.
Source: City Administrative Services Department
133
$ 3,210,000
1,421,777
9 0
CITY OF POWAY TABLE 9
Ratio of Net General Bonded Debt to Assessed Value
and Net Bonded Debt Per Capita
Last Ten Fiscal Years
Notes:
(1) Based on estimated population provided by the State of California.
(2) After deducting $532,942,779 Redevelopment Tax Allocation increment.
(3) After deducting $758,451,553 Redevelopment Tax Allocation increment.
(4) After deducting $919,469,750 Redevelopment Tax Allocation increment.
(5) After deducting $1,013,256,369 Redevelopment Tax Allocation increment.
(6) After deducting $1,074,705,577 Redevelopment Tax Allocation increment.
(7) After deducting $1,082,290,553 Redevelopment Tax Allocation increment.
(8) After deducting $1,106,345,405 Redevelopment Tax Allocation increment.
(9) After deducting $1,095,311,115 Redevelopment Tax Allocation increment.
(10) After deducting $1,132,455,143 Redevelopment Tax Allocation increment.
(11) After deducting $1,298,069,644 Redevelopment Tax Allocation increment.
Source: City Administrative Services Department
134
General
Ratio to
Per
Fiscal
Assessed
Bonded
Assessed
Capita
Year
Population (1)
Valuation
Debt
Valuation
Debt
1990
43,933
$ 1,549,703,605
(2)
$ 10,515,000
0:68
239.34
1991
44,450
1,692,505,672
(3)
10,050,000
0.59
226.10
1992
45,263
1,809,620,594
(4)
9,850,000
0.54
217.62
1993
46,219
1,898,988,326
(5)
9,300,000
0.49
201.22
1994
46,579
1,959,261,620
(6)
8,875,000
0.45
190.54
1995
46,132
2,009,199,055
(7)
8,405,000
0.42
182.19
1996
45,452
2,039,243,779
(8)
5,340,000
0.26
117.49
1997
46,008
2,045,062,116
(9)
3,970,000
0.19
86.29
1998
47,098
2,091,002,906
(10)
3,595,000
0.17
76.33
1999
48,277
2,173,069,644
(11)
3,210,000
0.15
66.49
Notes:
(1) Based on estimated population provided by the State of California.
(2) After deducting $532,942,779 Redevelopment Tax Allocation increment.
(3) After deducting $758,451,553 Redevelopment Tax Allocation increment.
(4) After deducting $919,469,750 Redevelopment Tax Allocation increment.
(5) After deducting $1,013,256,369 Redevelopment Tax Allocation increment.
(6) After deducting $1,074,705,577 Redevelopment Tax Allocation increment.
(7) After deducting $1,082,290,553 Redevelopment Tax Allocation increment.
(8) After deducting $1,106,345,405 Redevelopment Tax Allocation increment.
(9) After deducting $1,095,311,115 Redevelopment Tax Allocation increment.
(10) After deducting $1,132,455,143 Redevelopment Tax Allocation increment.
(11) After deducting $1,298,069,644 Redevelopment Tax Allocation increment.
Source: City Administrative Services Department
134
I
•
•
CITY OF POWAY
TABLE 10
Ratio of Debt Service for General Bonded Debt to
Total General Expenditures (1)
',.
Last Ten Fiscal Years
'
Total
Total
Ratio of Debt Service
Fiscal
Debt
General
to Total General
'
Year
Principal
Interest Service
Expenditures
Expenditures
1990
$ 110,000
$ 62,700 $ 172,700
$ 59,710,513
0.3
'
1991
120,000
55,800 175,800
87,280,897
0.2
1992
125,000
48,450 173,450
70,480,667
0.2
1993
130,000
40,800 170,800
62,623,912
0.3
1994
140,000
32,700 172,700
69,390,109
0.2
'
1995
145,000
24,150 169,150
52,182,594
0.3
'
1996'
160,000
15,000 175,000
88,022,567
0.2
1997
a' 170,000
5,100 175,100
68,586,518
0.3
1998
0
0 0
68,054,286
0.8
'
1999
0
0 0
54,040,982
1.0
Note:
(1)
Includes all governmental fund types.
w
Bonds were retired in fiscal year ended June 30, 1997.
'
Source:
City Administrative Services Department
135
0 0
CTTY OF POWAY TABLE 11
Direct and Overlapping Bond Debt
June 30, 1999
1998 -99 Assessed Valuation: $2,173,936,822 (after deducting $1,298,069,644 redevelopment
incremental valuation)
DIRECT AND OVERLAPPING TAX
AND ASSESSMENT DEBT: % Applicable Debt 6/30/99
POPULATION 48,277
San Diego County Water Authority
1.521 %
$
114,759
Metropolitan Water District
0.254
1,468,209
Escondido Union High School District
0.080
35,302
San Pasqual Union School District
3.116
53,949
Poway Municipal Water District
100.000
780,000
City of Poway
100.000
3,210,000
City of Poway Assessment District No. 96 -1
100.000
555,000
City of Poway Community Facilities District No. 88 -1
100.000
35,445,000
South Poway Community Facilities District No. 1
100.000
24,780,000
TOTAL DIRECT AND OVERLAPPING
TAX AND ASSESSMENT DEBT
66,442,219
DIRECT AND OVERLAPPING LEASE OBLIGATION DEBT:
San Diego County General Fund Obligations
1.467 %
$
7,639;507
San Diego County Pension Obligations
1.467
5,475,137
San Diego County Superintendent of Schools Obligations
1.467
33,264
Palomar Community College District Certificates of Participation
6.467
483,732
Poway Unified School District Certificates, of Participation
19.536
110,265
City of Poway Certificates of Participation
100.000
55,000,000
TOTAL DIRECT AND OVERLAPPING
LEASE OBLIGATION DEBT
$
68,741,905
COMBINED TOTAL DEBT
$
135,184,124
Ratios to Assessed Valuation:
Direct Debt ($3,210,000)
0.09%
Combined Direct Debt ($58,210,000)
2.68%
Total Direct and Overlapping Tax and Assessment Debt
1.91%
Combined Total Debt
6.22%
STATE SCHOOL BUILDING AID'REPAYABLE AS OF 6/30/99:
$0
Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax
allocation bonds
and non - bonded capital lease obligations.
Source: California Municipal Statistics, Inc.
136
• CITY OF POWAY • TABLE 12
Demographic Statistics
Last Ten Fiscal Years
Per
Fiscal Capita Median School - Unemployment
' Year Population (r) Income (2) Age (2) Enrollment Rate (Z)
1990 43,933 S 16,900 28.8 24,509 4.3
1991 44,450 17,207 32.6 26,055 6.2
1992 45,263 20,720 32.6 25,873 8.1
' 1993 46,219 20,720 32.6 26,625 8.4
1994 46,579 20,720 32.1 27,520 7.5
' 1995 46,132 20,720 32.0 29,817 7.3
1996 45,452 20,720 32.0 30,664 5.7
1997 46,008 20,720 34.7 30;293 2.9
1998 47,098 20,720 34.9 30,984 2.5
1999 48,277 20,720 35.0 3.1,649 2.1
(1) Based on estimated, population provided by the State of California as of
' January 1 each
(Z) Based' on census provided by SANDAG.
Source: Compiled by City Administrative Services Department
u, 137'
0 0
CITY OF�POWAY
Property Value, Construction Activity and Bank Deposits
Last Ten Fiscal Years
Fiscal
Year
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
Commercial
$ 30,240,937
37,219,612
44,186,797
54,214,861
69,952,694
76,590,235
85,193,678
87,641,025
88,447,865
118,083,485
i IVFW Ly V WUV
Residential
$ 2,113,865,650
2,476,632,903
2,750,384,816
2,922,783,103
3,032,530,528
3,685,143,929
3
3,123,520,296
3,206,158,747
3,427,371,909
Value (Z)
Exemption
$ 61,460,203
62,895,290
65,481,269
64,753,269
68,516,025
70,244,556
70,201,273
70,788,090
71,148, 563
73,448,928
Total
$ 2,082,646,384
2,450,957,225
2,729,090,344
2,912,244,695
3,033,967,197
3,091,489,608
3,145,589,184
3,140,373,231
3,223
3,472',006,466
(1) San Diego Trust and Savings Bank Marketing Department provided actuals;for 1990.
(2) Estimated assessed value from Table 4:.
Source: City Planning Department
138
TABLE 13
' Commercial:Construction Residential Constriction
umber Percent Number Percent Bank
' of Units Value Change of Units Value Change Deposits (1)
34 $ 14,150,143 (8.8) 325 $ 70,998,258 (17.9) $ 181,000,000
' 9 7,240,173 (48.8) 218 47,113,614 (33.6) 171,248,346
15 17,696,194 144.4 50 17,152,025 (63.6) 184,091,972
19 13,887,733 (11.5) 40 12,870,944 (25.0) 163,998,953
4 915,093 (93.4) 81 19,829,254 54.1 143,923,796
5 616,318 (32.7) 50 15,238,827 (23.1) 121,516,477
5 744,592 21.8 99 25,285,941 65.9 122,745,369
16 5,692,228 664.5 71 23,964,243 (5.23) 136
13 23,158,638 306.8 180 60,243,002 151.4 199,549,791
13 5,602,765 (313.3) 142 42,903,691 (28.8) 250,542,833
139
CITY OF POWAY • TABLE 14
Miscellaneous Statistics
June 30, 1999
Date of Incorporation December 1, 1980
Form of Government Council- Manager
Area 39 Square.Miles
Miles of Streets 152
Number of Street Lights 2,681
Fire Protection:
Number of Stations 2
Number of Staff Firefighters and Officers 32
Number of Volunteer Firefighters 23
Police Protection
Number of Stations
1
Number of Sworn Officers
49
Number of Clerical Staff
12
Senior Volunteer Patrol
29
Reserve Sheriff
13
Community Service Officers
3
Education
Attendance Centers
29
Number of Classrooms
1,281
Number of Teachers
1,800
Number of Students
31,649
Water
Number of Consumers
13,300
Average Daily Consumption
11,906,787 gallons
Miles of Water Mains
239
Sewer:
Sanitary Sewers
137.5 miles
Storm Sewers
49.5. miles
Building Permits Issued
1,751
Recreation and Culture:
Parks
14 with 345 acres
Community Center
1
Libraries
1
Employees:
Classified Services (full and part-time)
271
Management
69
Total Employees
290
Note: (1) Library services are provided by the County of San Diego.
Source: Compiled by City Administrative Services Department
,140