HomeMy Public PortalAbout05 GOVERNMENTAL WIDE FINANCIAL STATEMENTSCity of Rancho Mirage
California
Comprehensive Annual Financial Report
YEAR ENDED JUNE 30, 2003
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CITY OF RANCHO MIRAGE
STATEMENT OF NET ASSETS
JUNE 30,2003
See accompanying notes to basic financial statements.
11
Governmental
Activities
Assets:
Cash and investments (note 2) $ 87,653,333
Cash and investments with fiscal agent (note 2) 43,122,188
Receivables:
Interest 71,887
Accounts 792,257
Special assessments 560,146
Loans receivable 5,384,599
Trust receivable 9,890
Due from other govemments 8,618,907
Due from Assessment District Agency Fund 121,058
Prepaid items 116,500
Capital assets (note 7):
Non - depreciable capital assets 23,236,683
Depreciable capital assets 137,522,829
Accumulated depreciation (30,585,075)
Total assets 276,625,202
Liabilities:
Accounts payable 3,175,990
Accrued salaries and benefits 20,220
Accrued interest payable 1,326,215
Due to other governments 526,301
Deposits payable 337,177
Deferred revenue 197,522
Noncurrent liabilities (note 8 ):
Due within one year 2,522,358
Due in more than one year 102,659,899
Total liabilities 110,765,682
Net assets:
Investment in capital assets, net of accumulated depreciation and related debt 69,375,185
Restricted for:
Community development 17,360,868
Public safety 88,670
Public works 3,772,544
Cultural and recreation 3,637,645
Unrestricted 71,624,608
Total net assets $ 165,859,520
Govemmental activities:
General government
Public safety
Public works
Cultural and recreation
Interest on long -term debt
and other charges
Total governmental activities
Charges for
Expenses Services
$ 9,694,081 3,074,484
6,979,064 813,239
12,406,695 1,341,970
1,942,727 911,337
6,577,179
37,599,746 6,141,030
General revenues:
Taxes:
Property taxes
Transient occupancy taxes
Sales taxes
Franchise taxes
Motor vehicle in lieu
Library and fire services
Other taxes
Interest income
Other
Total general revenues
Change in net assets
Net assets at beginning of year
Net assets at end of year
CITY OF RANCHO MIRAGE
Statement of Activities
Year ended June 30, 2003
Program
Operating
Grants and
Contributions
164,350
1,064,472
190,379
1,419,201
Revenues
Capital
Grants and
Contributions
5,485,964
5,485,964
See accompanying notes tb financial statements.
Net (Expense)
Revenue and
Changes in
Net Assets -
Primary
Government
Total
Program Governmental
Revenues Activities
8,560,448
977,589
2,406,442
1,101,716
(1,133,633)
(6,001,475)
(10,000,253)
(841,011)
(6,577,179)
13,046,195 (24,553,551)
14,470,702
5,195,663
3,877,260
868,641
862,191
3,366,228
197,084
3,713,669
943,040
33,494,478
8,940,927
156,918,593
$ 165,859,520