HomeMy Public PortalAbout13 Other Governmental Funds Capital ProjectsMAJOR AND NONMAJOR CAPITAL PROJECT FUNDS
Capital Project Funds are used to account for resources used for the acquisition or
construction of major capital projects, except for those financed by certain Special
Revenue Funds.
The WHITEWATER PROJECT AREA
FUND is used to account for proceeds of tax
allocation bonds and other obligations issued
to fund construction of specific improvements
in the Whitewater redevelopment project area.
The NORTHSIDE PROJECT AREA FUND
is used to account for proceeds of tax
allocation bonds and other obligations issued
to fund construction of specific improvements
in the Northside redevelopment project area.
The LIBRARY FUND is used to account for
the revenues and expenditures associated with
the acquisition and equipping of the City's
public library.
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The DEVELOPMENT FEE FUNDS are used
to account for fees collected on new residential
and commercial development which are then
used to mitigate the impact of the new
development on the City.
The ASSESSMENT DISTRICTS FUND is
used to account for activities relating to street
improvement and construction, flood control
and utility undergrounding for specific areas
of the City.
Assets
CITY OF RANCHO MIRAGE
COMBINING BALANCE SHEET
NONMAJOR CAPITAL PROJECTS FUNDS
June 30, 2008
Total Nonmajor
Assessment Development Capital Projects
District Library Fees Funds
Cash and investments 349,697 2,638,173 2,987,870
Interest receivable 579 4,284 4,863
Total assets 350,276 2,642,457 2,992,733
Liabilities and fund balances
Liabilities:
Accounts payable 23,795 23,795
Total liabilities 23,795 23,795
Fund balances:
Unreserved.
Designated for equipment replacement 25,000 25,000
Designated for capital projects 325,276 2,618,662 2,943,938
Total fund balances 350,276 2,618,662 2,968,938
Total liabilities and fund balances 350,276 2,642,457 2,992,733
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CITY OF RANCHO MIRAGE
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR CAPITAL PROJECTS FUNDS
Year ended June 30, 2008
Total Nonmajor
Assessment Development Capital Projects
District Library Fees Funds
Revenues:
Interest income 16,063 124,932 140,995
Developer fees 667,304 667,304
Net increase (decrease) in
investment fair value 6,879 6,879
Total revenues 16,063 799,115 815,178
Expenditures:
Capital projects 23,086 673,235 696,321
Total expenditures 23,086 673,235 696,321
Excess (deficiency) of revenues
over (under) expenditures 16,063 (23,086) 125,880 118,857
Other financing sources (uses):
Transfers in 23,086 23,086
Transfers out (27,540) (27,540)
Total other financing sources (uses) 23,086 (27,540) (4,454)
Total change in fund balances 16,063 98,340 114,403
Fund balances (deficit) at beginning of year 334,213 2,520,322 2,854,535
Fund balances, end of year 350,276 2,618,662 2,968,938
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CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
WHITEWATER PROJECT AREA
CAPITAL PROJECTS FUND
Year ended June 30, 2008
Variance with
Final Budget
Final Positive
Budget Actual Negative)
Revenues:
Intergovernmental
Charges for services
Interest income 301,546 379,984 78,438
Net increase (decrease) in
investment fair value 6,511 6,511
Miscellaneous 2,100 3,156 1,056
Total revenues 303,646 389,651 86,005
Expenditures:
Current:
General government 1,186,860 990,404 196,456
Capital projects 4,739,752 981,639 3,758,113
Total expenditures 5,926,612 1,972,043 3,954,569
Excess (deficiency) of
revenues over
expenditures (5,622,966) (1,582,392) 4,040,574
Other financing sources (uses)
Transfers in 2,656,417 880,577 (1,775,840)
Proceeds from land sale
Total other financing uses 2,656,417 880,577 (1,775,840)
Total change in fund balance (2,966,549) (701,815) 2,264,734
Fund balances, beginning of year 9,190,173 9,190,173
Fund balances (deficit), end of year 6,223,624 8,488,358 2,264,734
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Revenues.
Charges for services
Interest income
Net increase (decrease) in
investment fair value
Total revenues
Expenditures:
Current:
General government
Capital projects
Total expenditures
Excess (deficiency) of
revenues over
expenditures
Other financing sources (uses)
Transfers in
Transfers out
Proceeds from land sale
Total other financing uses
Total change in fund balance
Fund balances, beginning of year
Fund balances, end of year
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
NORTHSIDE PROJECT AREA
CAPITAL PROJECTS FUND
Year ended June 30. 2008
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Final
Budget
133,000
1,393,387
Actual
Variance with
Final Budget
Positive
gative
69,806 (63,194)
1,602,115 208,728
(249,340) (249,340)
1,526,387 1,422,581 (103,806)
1,179,836 1,007,498 172,338
9,132,434 192,343 8,940,091
10,312,270 1,199,841 9,112,429
(8,785,883) 222,740 9,008,623
1,807,100 1,763,344 43,756
(245,830) (23,086) (222,744)
1,561,270 1,740,258 (178,988)
(7,224,613) 1,962,998 9,187,611
35,044,221 35,044,221
27,819,608 37,007,219 9,187,611
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
LIBRARY
NON -MAJOR CAPITAL PROJECTS FUND
Year ended June 30, 2008
Variance with
Final Budget
Final Positive
Budget Actual (Neeativel
Expenditures:
Current:
Capital projects 245,830 23,086 222,744
Total expenditures 245,830 23,086 222,744
Other financing sources (uses)
Transfers in 23,086 23,086
Total other financing uses 23,086 23,086
Total change in fund balance (245,830) 245,830
Fund balances, beginning of year
Fund balances (deficit), end of year (245,830) 245,830
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Revenues:
Interest income
Developer fees
Net increase (decrease) in
investment fair value
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
DEVELOPMENT FEES
NON -MAJOR CAPITAL PROJECTS FUND
Year ended June 30, 2008
129
Final
Budget
Actual
Variance with
Final Budget
Positive
iegative)
110,000 124,932 14,932
837,900 667,304 (170,596)
6,879 6,879
Total revenues 947,900 799,115 (148,785)
Expenditures:
Capital projects 886,805 673,235 213,570
Total expenditures 886,805 673,235 213,570
Excess (deficiency) of
revenues over
expenditures 61,095 125,880 64,785
Other financing sources (uses)
Transfers out (46,284) (27,540) 18,744
Total other financing uses (46,284) (27,540) 18,744
Total change in fund balance 14,811 98,340 83,529
Fund balances, beginning of year 2,520,322 2,520.322
Fund balances, end of year 2,535,133 2,618,662 83,529
Other financing sources (uses)
Transfers in
Transfers out
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
ASSESSMENT DISTRICT
NON -MAJOR CAPITAL PROJECTS FUND
Year ended June 30, 2008
Variance with
Final Budget
Final Positive
Budget Actual Negative)
Revenues:
Interest income 11,906 16,063 4,157
Miscellaneous 28,072 28,072
Total revenues 11,906 44,135 32,229
Expenditures.
Current:
Capital projects 28,072 (28,072)
Total expenditures 28,072 (28,072)
Excess (deficiency) of
revenues over
expenditures 11,906 16,063 4,157
Total other financing uses
Total change in fund balance 11,906 16,063
Fund balances, beginning of year 334,213 334,213
Fund balances, end of year 346,119 350,276
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4,157
4,157