HomeMy Public PortalAbout11 Other Governmental Funds - Capital ProjectsCOMPREHENSIVE
ANNUAL
FINANCIAL REPORT
CITY OF RANCHO MIRAGE, CALIFORNIA
I
MAJOR 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
Total assets
Liabilities and fund balances
Liabilities:
Due to other funds
Total liabilities
Fund balances:
Unreserved:
Designated for unrealized gains and (losses)
Designated for equipment replacement
Designated for capital projects
Designated for continuing appropriations
Total fund balances
Total liabilities and fund balances
CITY OF RANCHO MIRAGE
COMBINING BALANCE SHEET
NONMAJOR CAPITAL PROJECTS FUNDS
June 30, 2009
Cash and investments 129,912
Interest receivable 94
Due from other funds
Assessment
District Library
130,006
25,000
105,006
130,006
130,006
130
Total Nonmajor
Development Capital Projects
Fees Funds
2,685,196 2,815,108
1,891 1,985
2,687,087 2,817,093
8 8
8 8
38,032 38,032
25,000
2,299,125 2,404,131
349,922 349,922
2,687,079 2,817,085
2,687,087 2,817,093
CITY OF RANCHO MIRAGE
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR CAPITAL PROJECTS FUNDS
Year ended June 30, 2009
Total Nonmajor
Assessment Development Capital Projects
District Library Fees Funds
Revenues:
Interest income 9,435 119,735 129,170
Developer fees 228,596 228,596
Net increase (decrease) in
investment fair value 31,153 31,153
Miscellaneous 41,857 41,857
Total revenues 9,435 41,857 379,484 430,776
Expenditures:
Capital projects 229,705 58,868 295,063 583,636
Total expenditures 229,705 58,868 295,063 583,636
Excess (deficiency) of revenues
over (under) expenditures (220,270) (17,011) 84,421 (152,860)
Other financing sources (uses):
Transfers in 17,011 17,011
Transfers out (16,004) (16,004)
Total other financing sources (uses) 17,011 (16,004) 1,007
Total change in fund balances (220,270) 68,417 (151,853)
Fund balances (deficit) at beginning of year 350,276 2,618,662 2,968,938
Fund balances, end of year 130,006 2,687,079 2,817,085
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Total revenues
Total expenditures
Excess (deficiency) of
revenues over
(under) expenditures
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
WHITEWATER PROJECT AREA
CAPITAL PROJECTS FUND
Year ended June 30, 2009
Variance with
Final Budget
Final Positive
Budget Actual (Negative)
Revenues:
Interest income 300,748 196,790 (103,958)
Net increase (decrease) in
investment fair value (24,814) (24,814)
Miscellaneous 21,000 4,726 (16,274)
321,748 176,702 (145,046)
Expenditures:
General government 2,119,859 2,106,409 13,450
Capital projects 6,474,796 2,966,877 3,507,919
8,594,655 5,073,286 3,521,369
(8,272,907) (4,896,584) 3,376,323
Other financing sources (uses):
Transfers in 1,675,600 1,215,328 (460,272)
Total other financing uses 1,675,600 1,215,328 (460,272)
Total change in fund balance (6,597,307) (3,681,256) 2,916,051
Fund balances, beginning of year 8,494,840 8,494,840
Fund balances (deficit), end of year 1,897,533 4,813,584 2,916,051
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Revenues:
Charges for services
Interest income
Net increase (decrease) in
investment fair value
Total revenues
Expenditures:
General government
Capital projects
Debt service:
Service fees and issuance costs
Total expenditures
Excess (deficiency) of
revenues over
(under) expenditures
Other financing sources (uses):
Transfers in
Transfers out
Original discount on issuance of debt
Issuance of long -term debt
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, 2009
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Final
Budget Actual
11,242
1,659,690
490,905
1,429,570 2,161,837
2,675,890 87,394
15,211,924 3,667,527
355,331 340,036
18,243,145 4,094,957
153,000
1,276,570
(16,813,575)
(1,715,288)
(312,870)
22,040,000
20,011,842
3,198,267
37,013,701
40,211,968
Variance with
Final Budget
Positive
(Negative)
(141,758)
383,120
490,905
732,267
2,588,496
11,544,397
15,295
14,148,188
(1,933,120) 14,880,455
(6,365,368) 4,650,080
(312,870)
22,040,000
15,361,762 4,650,080
13,428,642 10,230,375
37,013,701
50,442,343 10,230, 375
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
LIBRARY
NON -MAJOR CAPITAL PROJECTS FUND
Year ended June 30, 2009
Revenues:
Miscellaneous 41,857 41,857
Total revenues 41,857 41,857
Expenditures:
Capital projects 222,743 58,868 163,875
Total expenditures 222,743 58,868 163,875
Excess (deficiency) of
revenues over
(under) expenditures (222,743) (17,011) 205,732
Other financing sources (uses):
Transfers in 17,011 17,011
Total other financing uses 17,011 17,011
Total change in fund balance 222,743 222,743
Fund balances, beginning of year
Fund balances (deficit), end of year 222,743 222,743
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Final
Budget
Actual
Variance with
Final Budget
Positive
Neeativel
Total revenues
Other financing sources (uses):
Transfers out
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
DEVELOPMENT FEES
NON -MAJOR CAPITAL PROJECTS FUND
Year ended June 30, 2009
Revenues:
Interest income 152,000 119,735 (32,265)
Developer fees 922,000 228,596 (693,404)
Net increase (decrease) in
investment fair value 31,153 31,153
Expenditures:
Capital projects 873,231 295,063 578,168
Total expenditures 873,231 295,063 578,168
Excess (deficiency) of
revenues over
expenditures 200,769 84,421 (116,348)
135
Variance with
Final Budget
Final Positive
Budget Actual (Negative)
1,074,000 379,484 (694,516)
(51,504) (16,004) 35,500
(51,504) (16,004) 35,500
149,265 68,417 (80,848)
2,618,662 2,618,662
2,767,927 2,687,079 (80,848)
Revenues:
Interest income
Total revenues
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
ASSESSMENT DISTRICT
NON -MAJOR CAPITAL PROJECTS FUND
Year ended June 30, 2009
Variance with
Final Budget
Final Positive
Budget Actual (Negative)
11,500 9,435 (2,065)
11,500 9,435 (2,065)
Expenditures:
Capital projects 232,000 229,705 2,295
Total expenditures 232,000 229,705 2,295
Excess (deficiency) of
revenues over
(under) expenditures (220,500) (220,270) 230
Total change in fund balance (220,500) (220,270) 230
Fund balances, beginning of year 350,276 350,276
Fund balances, end of year 129,776 130,006 230
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