HomeMy Public PortalAbout08 Required Supplementary InformationCOMPREHENSIVE
ANNUAL
INANCIAL REPORT
CITY OF RANCHO MIRAGE, CALIFORNIA
CITY OF R NCHO MIRAGE
REQUIRED SUPPLEMENTARY INFORMATION
NOTE #1 — BUDGETARY DATA
CITY OF RANCHO MIRAGE
NOTE TO REQUIRED SUPPLEMENTARY INFORMATION
For the Year Ended June 30, 2012
The City uses the following procedures in establishing the budgetary data reflected in the financial statements:
1. Before the beginning of the fiscal year the City Manager submits to the City Council a proposed budget for
the year commencing the following July 1.
2. Public hearings are conducted to obtain taxpayer comments.
3. The budget is subsequently adopted through passage of a resolution.
4. All appropriated amounts are as originally adopted or as amended by the City Council and lapse at year end,
except for continuing appropriations for capital projects.
5. Original appropriations are modified by supplementary appropriations and transfers among budget
categories. The City Manager is authorized to transfer appropriations within an object of a General Fund
department and within total fund appropriations for other funds. The City Council approves all other
changes. Individual amendments were not material in relation to the original appropriations.
6. The legal level for which expenditures are not to exceed appropriations is at the fund level for all funds except
the General Fund and at the object level for the General Fund. The City classifies each General Fund
expenditure into one of the following three objects: personnel, operations and maintenance, and capital.
Expenditures exceeded appropriations in the Parkland fund and in the General fund for the city council capital
object and general government personnel and operations and maintenance objects.
7. Formal budgetary integration is employed as a management control device during the year for the following
funds which also have legally adopted annual budgets: General, Special Revenue and Capital Projects Funds.
Formal budgetary integration is not employed for Debt Service Funds (including the Joint Powers Financing
Authority Debt Service Fund), except for the Redevelopment Agency Debt Service Funds, because effective
budgetary control is alternatively achieved through debt indenture provisions.
8. Budgets for General, Special Revenue, Redevelopment Agency Debt Service Funds and Capital Projects Funds
are adopted on a basis consistent with generally accepted accounting principles, except advances from the
General Fund to other funds are budgeted as expenditures in the General Fund and as revenue in the funds
receiving the advances Repayment of advances is budgeted as revenue in the General Fund and as an
expenditure in the funds repaying the advance.
Fund activity consolidated in accordance with GASB Statement No. 54 in the financial statements is excluded
from the Budgetary Comparison Schedules. Transfers eliminated by the consolidation in the financial
statements are reported as transfers in the Budgetary Comparison Schedule.
56
CITY OF RANCHO MIRAGE
SCHEDULE OF FUNDING PROGRESS
OTHER POST EMPLOYMENT BENEFITS
Year Ended June 30, 2012
Actuarial
Accrued UAAL as a
Actuarial Liability Unfunded Percentage of
Actuarial Value of (AAL)- AAL Funded Covered Covered
Valuation Assets Entry Age (UAAL) Ratio Payroll Payroll
Date (a) (b) (b -a) (a/b) (c) (b -a) /c)
6/30/2011 $ 613,916 $ 2,335,827 $ 1,721,911 26.3% $ 6,446,176 26.7%
57
Revenues:
Taxes:
Property taxes
Sales taxes
Franchise taxes
Transient occupancy taxes
Real property transfer taxes
Total taxes
Intergovernmental:
Motor vehicle in -lieu
Reimbursement from non - government
County COPS Program
Other
Total intergovernmental
Licenses and permits:
Business licenses
Plan check fees
Public works inspections and fees
Total licenses and permits
Charges for services:
Planning fees
PEG fees
Construction permits
Total charges for services
Developer fees
Fines and forfeitures
Interest income
Net increase (decrease) in
investment fair value
Miscellaneous
Total revenues
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
Year Ended June 30, 2012
Budgeted Amounts
Original Final
Budget Budget
Actual
Variance with
Final Budget
Positive
(Negative)
$ 3,646,439 $ 3,646,439 $ 3,729,231 $ 82,792
3,115,314 3,115,314 3,220,365 105,051
1,236,190 1,236,190 1,239,565 3,375
4,291,000 4,582,000 4,925,306 343,306
252,004 252,004 269,817 17,813
12,540,947 12,831,947 13,384,284 552,337
58,000
393,750
197,027
648,777
208,600
60,000
239,600
508,200
58,000
393,750
197,027
648,777
218,600
60,000
274,600
553,200
17,612
981,908
100,000
1,136,753
2,236,273
207,601
44,514
262,303
514,418
(40,388)
588,158
100,000
939,726
1,587,496
(10,999)
(15,486)
(12,297)
(38,782)
155,125 155,125 157,504 2,379
- - 27,550 27,550
375,000 375,000 339,072 (35,928)
530,125 530,125 524,126 (5,999)
30,836 30,836
100,000 100,000 121,538 21,538
1,528,000 1,478,000 1,516,959 38,959
(58,678) (58,678)
304,805 304,805 491,289 186,484
16,160,854 16,446,854 18,761,045 2,283,355
58
(Continued)
Expenditures:
General government:
City council:
Personnel
Operations and maintenance
Capital
Total city council
City clerk:
Personnel
Operations and maintenance
Capital
Total city clerk
City manager:
Personnel
Operations and maintenance
Capital
Total city manager
City attorney:
Operations and maintenance
Total city attorney
Administration:
Personnel
Operations and maintenance
Capital
Total administration
Finance:
Personnel
Operations and maintenance
Capital
Total finance
Information services:
Personnel
Operations and maintenance
Capital
Total information services
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
(CONTINUED)
Year Ended June 30, 2012
Budgeted Amounts
Original Final
Budget Budget
$ 223,661 $ 229,129 $ 229,122 $ 7
8,500 9,019 6,588 2,431
1,000 1,000 1,647 (647)
233,161 239,148 237,357 1,791
428,155
97,800
1,000
526,955
555,648
28,873
1,000
585,521
423,290
64,340
1,000
488,630
523,352
32,232
1,000
556,584
500,600 671,796
500,600 671,796
749,460
14,421
1,000
764,881
424,764
131,818
556,582
285,066
421,650
56,200
762,916
59
741,305
19,421
1,000
761,726
418,475
220,870
750
640,095
310,098
487,486
81,541
879,125
Actual
412,811
55,045
467,856
521,600
23,811
545,411
452,519
452,519
724,925
19,325
744,250
413,783
185,282
747
599,812
Variance with
Final Budget
Positive
(Negative)
10,479
9,295
1,000
20,774
1,752
8,421
1,000
11,173
219,277
219,277
16,380
96
1,000
16,476
4,692
35,588
3
40,283
310,099 (I)
384,215 103,271
53,602 27,939
747,916 131,209
(Continued)
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
(CONTINUED)
Year Ended June 30, 2012
Budgeted Amounts
Original Final
Budget Budget
Actual
Variance with
Final Budget
Positive
(Negative)
Public information & com. Relations:
Operations and maintenance $ 140,000 $ 164,977 $ 110,557 $ 54,420
Total information & com. Relations 140,000 164,977 110,557 54,420
General government:
Personnel 766,580 956,968 959,655 (2,687)
Operations and maintenance 1,290,095 1,355,663 1,360,965 (5,302)
Capital 5,000 5,000 - 5,000
Total general government 2,061,675 2,317,631 2,320,620 (2,989)
Special programs:
Operations and maintenance 777,300 871,436 775,786 95,650
Total special programs 777,300 871,436 775,786 95,650
Planning:
Personnel 842,501 748,671 742,496 6,175
Operations and maintenance 90,546 133,315 72,849 60,466
Total planning 933,047 881,986 815,345 66,641
Building and safety
Personnel 537,823 531,684 529,393 2,291
Operations and maintenance 28,450 44,201 30,884 13,317
Total building and safety 566,273 575,885 560,277 15,608
Mandated programs:
Operations and maintenance 12,500 15,250 12,739 2,511
Total mandated programs 12,500 15,250 12,739 2,511
Regional plan and implementation
Operations and maintenance 103,100 151,580 149,571 2,009
Total regional plan and implementation 103,100 151,580 149,571 2,009
Tourism and marketing
Personnel 161,795 160,213 159,978 235
Operations and maintenance 805,609 859,630 849,919 9,711
Total tourism and marketing 967,404 1,019,843 1,009,897 9,946
Economic Development
Personnel 338,263 336,091 333,867 2,224
Operations and maintenance 129,246 149,246 136,506 12,740
Total economic development 467,509 485,337 470,373 14,964
Total general government 9,959,424 10,721,029 10,020,286 699,743
60
(Continued)
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
(CONTINUED)
Year Ended June 30, 2012
Budgeted Amounts
Original Final
Budget Budget
Actual
Variance with
Final Budget
Positive
(Negative)
Public safety:
Code compliance:
Personnel $ 555,607 $ 548,842 $ 536,712 $ 12,130
Operations and maintenance 67,700 84,400 79,363 5,037
Total code compliance 623,307 633,242 616,075 17,167
Emergency services:
Personnel 25,417 25,951 25,952 (1)
Operations and maintenance 58,760 69,722 35,284 34,438
Total emergency services 84,177 95,673 61,236 34,437
Police services:
Operations and maintenance 6,243,135 6,143,135 5,782,287 360,848
Total police services 6,243,135 6,143,135 5,782,287 360,848
Citizens Option for Public Safety (COPS)
Operations and maintenance 100,000 100,002 (2)
Total COPS 100,000 100,002 (2)
ACBCI Tourism Fee
Operations and maintenance 25,000 25,000 22,269 2,731
Total law enforcement equipment 25,000 25,000 22,269 2,731
Total public safety
6,975,619 6,997,050 6,581,869 415,181
Public works:
Facilities & fleet maintenance:
Personnel 559,796 556,688 556,686 2
Operations and maintenance 704,630 712,721 596,472 116,249
Total buildings and landscaping 1,264,426 1,269,409 1,153,158 116,251
Street maintenance:
Personnel 548,450 548,927 548,926 1
Operations and maintenance 398,100 420,387 326,717 93,670
Capital - 2,683 2,559 124
Total street maintenance 946,550 971,997 878,202 93,795
Engineering:
Personnel 1,459,617 1,448,908 1,448,908
Operations and maintenance 41,762 52,062 52,042
Total engineering 1,501,379 1,500,970 1,500,950
61
(Continued)
20
20
Total public works 3,712,355 3,742,376 3,532,310 210,066
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
(CONTINUED)
Year Ended June 30, 2012
Budgeted Amounts
Original Final
Budget Budget
Actual
Variance with
Final Budget
Positive
(Negative)
Capital projects:
Capital improvements financed from
fund balance and license tax:
General Fund Capital Projects $ - $ 270,749 $ 239,985 $ 30,764
License Tax Fund Capital Projects 243,000 3,388,623 2,055,174 1,333,449
PEG Channel Capital Projects - 72,945 72,945 -
Total capital improvements 243,000 3,732,317 2,368,104 1,364,213
Total capital projects 243,000 3,732,317 2,368,104 1,364,213
Total expenditures 20,890,398 25,192,772 22,502,569 2,689,203
Excess (deficiency) of revenues over (under)
expenditures (4,729,544) (8,745,918) (3,741,524) (405,848)
Other financing sources:
Transfers in 6,535,760 6,219,760 5,603,673 (616,087)
Transfers out (1,536,456) (1,289,478) (705,680) 583,798
Total other financing sources 4,999,304 4,930,282 4,897,993 (32,289)
Net change in fund balance 269,760 (3,815,636) 1,156,469 4,972,105
Fund balance, beginning of year 80,359,280 80,359,280 80,359,280
Fund balance, end of year $ 80,629,040 $ 76,543,644 $ 81,515,749 $ 4,972,105
62
The following schedule shows the Budgetary Comparison Statement reconciliation between the budgetary basis
and GAAP basis for the General Fund and major special revenue funds:
Revenues and Other Financing Sources
Revenues from the Budgetary Comparison Schedules
Reclassification of Special Revenue Funds
to General Fund in accordance with GASB 54
Total Revenues from the Financial Statements
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
GENERAL FUND
(CONTINUED)
Year Ended June 30, 2012
Transfers In from the Budgetary Comparison Schedules 5,603,673
Elimination of Transfers within General Fund
in accordance with GASB 54 consolidation (2,948,385)
Reclassification of Special Revenue Funds
to General Fund in accordance with GASB 54 119,593
Total Transfers in from the Financial Statements $ 2,774,881
Expenditures and Other Financing Uses
Expenditures and Other Financing Uses from
the Budgetary Comparison Schedules $ 23,208,249
Reclassification of Special Revenue Funds
to General Fund in accordance with GASB 54 30,306
Total Expenditures and Other Financing Uses from
the Financial Statements $ 23,238,555
63
General Fund
18,761,045
2,653,948
$ 21,414,993
Revenues:
Intergovernmental
Charges and services
Fines and forfeitures
Interest income
Net increase (decrease) in
investment fair value
Miscellaneous
Total revenues
Expenditures:
Current:
Cultural and recreation
Capital projects
Total expenditures
Excess (deficiency) of revenues over (under)
expenditures
Other financing sources (uses):
Transfers in
Transfers out
Total other financing sources (uses)
Net changes in fund balance
Fund balance, beginning of year
Fund balance, end of year
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
LIBRARY SPECIAL REVENUE FUND
Year Ended June 30, 2012
Budgeted Amounts
Original Final
$ 174,376
60,000
44,200
42,850
321,426
2,776,352 3,079,934
2,776,352 3,079,934
(2,454,926) (2,758,508)
64
$ 174,376 $ 64,668
450
60,000 56,016
44,200 43,586
(808)
42,850 58,148
321,426 222,060
Variance with
Final Budget
Positive
Actual (Negative)
2,734,201
432
2,734,633
$ (109,708)
450
(3,984)
(614)
(808)
15,298
(99,366)
345,733
(432)
345,301
(2,512,573) 245,935
2,193,840 2,193,840 2,492,623 298,783
(281,080) (281,080) (37,880) 243,200
1,912,760 1,912,760 2,454,743 541,983
(542,166) (845,748) (57,830) 787,918
2,784,236 2,784,236 2,784,236 -
$ 2,242,070 $ 1,938,488 $ 2,726,406 $ 787,918
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
LIBRARY SPECIAL REVENUE FUND
(CONTINUED)
Year Ended June 30, 2012
Library Special
Revenue Fund
Revenues and Other Financing Sources
Revenues from the Budgetary Comparison Schedule $ 222,060
Reclassification of Special Revenue Funds
to Library Fund in accordance with GASB 54 2,397,530
Total Revenues from the Financial Statements $ 2,619,590
Transfers In from the Budgetary Comparison Schedules 2,492,623
Elimination of Transfers within Library Fund
in accordance with GASB 54 consolidation (2,383,173)
Total Transfers in from the Financial Statements $ 109,450
Expenditures and Other Financing Uses
Expenditures and Other Financing Uses from
the Budgetary Comparison Schedule $ 2,772,513
Reclassification of Special Revenue Funds
to Library Fund in accordance with GASB 54 14,207
Total Expenditures and Other Financing Uses from
the Financial Statements $ 2,786,720
65
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
FIRE TAX SPECIAL REVENUE FUND
Year Ended June 30, 2012
Variance with
Final Budget
Budgeted Amounts Positive
Original Final Actual (Negative)
Revenues:
Intergovernmental $ - $ - $ 291,500 $ 291,500
Charges for services 15,000 15,000 6,653 (8,347)
Special assessments - - - -
Interest income 5,000 5,000 4,708 (292)
Net increase (decrease) in
investment fair value 5,777 5,777
Total revenues 20,000 20,000 308,638 288,638
Expenditures:
Current:
Public safety 4,944,400 4,944,400 4,546,294 398,106
Capital projects 2,000 2,000 17,850 (15,850)
Total expenditures 4,946,400 4,946,400 4,564,144 382,256
Excess (deficiency) of revenues over (under)
expenditures (4,926,400) (4,926,400) (4,255,506) 670,894
Other financing sources (uses):
Transfers in 4,926,400 4,926,400 4,515,464 (410,936)
Total other financing sources (uses) 4,926,400 4,926,400 4,515,464 (410,936)
Net changes in fund balance 259,958 259,958
Fund balance, beginning of year 172,211 172,211 172,211
Fund balance, end of year $ 172,211 $ 172,211 $ 432,169 $ 259,958
Fire Tax Fund
Revenues and Other Financing Sources
Revenues from the Budgetary Comparison Schedule $ 308,638
Reclassification of Special Revenue Funds
to Fire Tax Fund in accordance with GASB 54 3,783,635
Total Revenues from the Financial Statements $ 4,092,273
Transfers In from the Budgetary Comparison Schedules 4,515,464
Elimination of Transfers within Fire Tax Fund
in accordance with GASB 54 consolidation (3,783,635)
Total Transfers in from the Financial Statements $ 731,829
66
Excess (deficiency) of revenues over (under)
expenditures
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
HOUSING AUTHORITY SPECIAL REVENUE FUND
Year Ended June 30, 2012
Budgeted Amounts
Original Final
67
Actual
Variance with
Final Budget
Positive
(Negative)
Revenues:
Intergovernmental $ - $ - $ 53,195 $ 53,195
Licenses and permits 4,500 4,500 4,516 16
Charges for services 1,380,900 1,380,900 1,426,086 45,186
Interest income 135,250 135,250 96,947 (38,303)
Net increase (decrease) in
investment fair value - 65,674 65,674
Miscellaneous 4,760 4,760
Total revenues 1,520,650 1,520,650 1,651,178 130,528
Expenditures:
Current:
General government 2,743,356 2,950,809 5,144,942 (2,194,133)
Capital projects 75,700 3,561,886 878,358 2,683,528
Total expenditures 2,819,056 6,512,695 6,023,300 489,395
(1,298,406) (4,992,045) (4,372,122) 619,923
Other financing sources (uses):
Transfers in 4,206,774 4,206,774 1,861,478 (2,345,296)
Transfers out (1,861,169) (1,861,169) (1,563,739) 297,430
Total other financing sources (uses) 2,345,605 2,345,605 297,739 (2,047,866)
Net changes in fund balance 1,047,199 (2,646,440) (4,074,383) (1,427,943)
Fund balance, beginning of year 22,296,632 22,296,632 22,296,632
Fund balance, end of year $ 23,343,831 $ 19,650,192 $ 18,222,249 $ (1,427,943)
CITY OF RANCHO MIRAGE
BUDGETARY COMPARISON SCHEDULE
LOW COST HOUSING SPECIAL REVENUE FUND
Year Ended June 30, 2012
Budgeted Amounts
Original Final
Actual
Variance with
Final Budget
Positive
(Negative)
Revenues:
Taxes $ 6,373,800 $ 6,373,800 $ 3,265,202 $ (3,108,598)
Interest income 145,000 145,000 36,939 (108,061)
Total revenues 6,518,800 6,518,800 3,302,141 (3,216,659)
Expenditures:
Current:
General government 95,850 95,850 115,842 (19,992)
Debt service:
Principal 1,210,000 1,210,000 - 1,210,000
Interest 1,302,956 1,302,956 651,478 651,478
Total expenditures 2,608,806 2,608,806 767,320 1,841,486
Excess (deficiency) of revenues over (under)
expenditures 3,909,994 3,909,994 2,534,821 (1,375,173)
Other financing sources (uses):
Transfers out (3,909,344) (3,909,344) (1,861,478) 2,047,866
Total other financing sources (uses) (3,909,344) (3,909,344) (1,861,478) 2,047,866
Extraodinary item:
Dissolution of former redevelopment agency (10,862,828) (10,862,828)
Net changes in fund balance 650 650 (10,189,485) (10,190,135)
Fund balance, beginning of year 10,189,485 10,189,485 10,189,485 -
Fund balance, end of year $ 10,190,135 $ 10,190,135 $ - $(10,190,135)
68