HomeMy Public PortalAbout13 Other Governmental Funds- Capital ProjectsCity of Rancho Mirage
California
Comprehensive Annual Financial Report
YEAR ENDED JUNE 30, 2003 f'
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 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.
• 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.
113
• 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 LIBRARY FUND is used to account for
the revenues and expenditures associated with
the acquisition and equipping of the City's
public library.
Assets
Cash and investments
Cash and investments
with fiscal agent
Due from other funds
Trust receivable
Interest receivable
Total assets
Liabilities and fund balances
Liabilities:
Accounts payable
Total liabilities
CITY OF RANCHO MIRAGE
NONMAJOR CAPITAL PROJECTS FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2003
Total Nonmajor
Assessment Capital Projects
District Library Funds
$ 791,228
$ 791,616 121,881 913.497
$ 107,434 121,881 229,315
Fund balances:
Unrestricted Fund - -
Reserved for encumbrances 38,999 38,999
Designated for unrealized gains
and (losses) 5,623 5,623
Designated for equipment replacement 25,000 - 25,000
Designated for continuing
appropriations 614,560 - 614,560
Designated for capital projects - -
Undesignated -
Total fund balances 684,182 - 684,182
Total liabilities and
fund balances $ 791,616 121,881 913,497
114
121,881 913.109
388 - 388
107,434 121,881 229,315
CITY OF RANCHO MIRAGE
NONMAJOR CAPITAL PROJECTS FUNDS
COMBINING STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
YEAR ENDED JUNE 30, 2003
Revenues:
Special assessments $ 77,156 77,156
Intergovernment
Fines
Interest income 33,193 33,193
Net increase (decrease) in investment
fair value (2,637) (2,637)
Proceeds of property owner debt 1,178,244 1,178,244
Miscellaneous
Total revenues 1,285,956 1,285,956
Expenditures:
Capital projects 2,409,587 739,708 3,149,295
Cultural and recreation -
Debt service:
Service fees 167,292 167,292
Total expenditures 2,576,879 739,708 3,316,587
Excess (deficiency) of revenues
over (under) expenditures
Total Nonmajor
Assessment Capital Projects
District Library Funds
Other fmancing sources (uses):
Transfers in 832,336 739,708 1,572,044
Total other financing sources (uses) 832,336 739,708 1,572,044
Total change in fund balances (458,587) - (458,587)
Fund balances (deficit) at
beginning of year 1 ,142,769
Fund balances, end of year $ 684,182 684,182
115
(1,290,923) (739,708) (2,030,631)
1,142,769
Total change in fund balance
Fund balances, beginning of year as restated
Fund balances, end of year
CITY OF RANCHO MIRAGE
CAPITAL PROJECTS FUNDS
WHITEWATER PROJECT AREA
BUDGETARY COMPARISON SCHEDULE
YEAR ENDED JUNE 30, 2003
Variance with
Actual Final Budget
Final (Budgetary Positive
Budget Basis (Negative)
Revenues:
Charges for services 486,000 695,142 209,142
Interest income 122,000 145,255 23,255
Net increase (decrease) in
investment fair value 7,623 7,623
Miscellaneous 2,275 2,275
Total revenues 608,000 850,295 242,295
Expenditures:
Current:
General government 658,498 862,791 (204,293)
Capital projects 10,234,399 5,556,720 4,677,679
Debt service
Service Fees
Total expenditures 10,892,897 6,419,511 4,473,386
Excess (deficiency) of
revenues over
expenditures (10,284,897) (5,569,216) 4,715,681
Other financing sources (uses):
Transfers in 8,970 8,970
Transfers out (69,533) (69,533)
Issuance of long -term debt 6,497,810 2,040,642 (4,457,168)
Total other financing uses 6,497,810 1,980,079 (4,517,731)
(3,787,087) (3,589,137) 197,950
$ (2,922,857) (2,724,907) 197,950
116
864,230 864,230
Service Fees
Total expenditures
Total other financing uses
Total change in fund balance
Fund balances, beginning of year
Fund balances, end of year
CITY OF RANCHO MIRAGE
CAPITAL PROJECTS FUNDS
NORTHSIDE PROJECT AREA
BUDGETARY COMPARISON SCHEDULE
YEAR ENDED JUNE 30, 2003
Final
Budget
117
Actual
Variance with
Final Budget
Positive
(Negative)
Revenues:
Charges for services
Interest income 1,628,000 1,429,835 (198,165)
Net increase (decrease) in
investment fair value (18,535) (18,535)
Miscellaneous -
Total revenues 1,628,000 1,411,300 (216,700)
Expenditures:
Current:
General government 614,998 573,515 41,483
Capital projects 23,524,515 2,499,456 21,025,059
24,139,513 3,072,971 21,066,542
Excess (deficiency) of
revenues over
expenditures (22,511,513) (1,661,671) 20,849,842
Other fmancing sources (uses):
Transfers in 421,133 807,697 386,564
Transfers out (14,500,000) (1,899,442) 12,600,558
Issuance of long -term debt 3,096,000 (3,096,000)
(10,982,867) (1,091,745) 9,891,122
(33,494,380) (2,753,416) 30,740,964
40,396,689 40,396,689
6,902,309 37,643,273 30,740,964
Revenues:
Special assessments
Interest income
Net increase (decrease) in
investment fair value
Proceeds from property owner debt
Expenditures:
Capital projects
Debt service:
Service Fees
Total revenues
Other financing sources (uses):
Transfers in
Total other fmancing uses
Total change in fund balance
Fund balances, beginning of year
financing uses
Fund balances, end of year
NON -MAJOR CAPITAL PROJECTS FUNDS
ASSESSMENT DISTRICT
BUDGETARY COMPARISON SCHEDULE
YEAR ENDED JUNE 30, 2003
Final
Budget
$ 77,150
2,897,218
Total expenditures 2,897,218
1,150,000
1,150,000
(491,868)
1,142,765
$ 650,897
118
Actual
77,156
33,193
(2,637)
1,178,200 1,178,244
1,255,350 1,285,956
2,409,587
167,292
2,576,879
Excess (deficiency) of
revenues over
expenditures (1,641,868) (1,290,923)
Variance with
Final Budget
Positive
(Negative)
6
33,193
(2,637)
44
30,606
487,631
(167,292)
320,339
350,945
832,336 (317,664)
832,336 (317,664)
(458,587) 33,281
1,142,769 (4)
684,182 33,277
Revenues:
Charges for services
Interest income
Net increase (decrease) in
investment fair value
Miscellaneous
Expenditures:
Capital projects
Total revenues
Total expenditures
Excess (deficiency) of
revenues over
expenditures
Other financing sources (uses):
Transfers in
Total other financing uses
Total change in fund balance
Fund balances, beginning of year
CITY OF RANCHO MIRAGE
NON -MAJOR CAPITAL PROJECTS FUNDS
LIBRARY
BUDGETARY COMPARISON SCHEDULE
YEAR ENDED JUNE 30, 2003
Final
Budget
14,507,872 739,708 13,768,164
14,507,872 739,708 13,768,164
(14,507,872) (739,708) 13,768,164
119
Actual
8,500,000 739,708 (7,760,292)
8,500,000 739,708 (7,760,292)
(6,007,872) - 6,007,872
Variance with
Final Budget
Positive
(Negative)
Fund balances, end of year $ (6,007,872) - 6,007,872
financing uses
120