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Home My Public Portal About15 STATISTICAL SECTION244M- ii 'N STATISTICAL SECTION STATISTICAL SECTION The statistical section provides trend data and nonfinancial information useful in assessing the City's financial condition. 123 Source: City of Rancho Mirage CITY OF RANCHO MIRAGE General Governmental Revenues by Source Last Ten Fiscal Years Year Transient Sales Inter- Licenses Charges Ended Property Tax Occupancy and Other Govern- and for June 30 Tax Increment Tax Use Tax Taxes mental Permits Services 1994 $1,490,047 13,130,444 3,745,460 2,414,527 1,203,089 1,502,812 380,580 1,254.382 1995 1,842,230 12,899,784 3,986,048 2,683,717 1,057,737 2,348,318 436,620 1,491,215 1996 1,582,764 12,174,749 4,136,521 2,931,570 1,104,519 3,905,507 474,230 1,348,316 1997 1,548,246 12,114,729 4,517,965 2,963,464 1,490,511 1,801,195 634,983 1,663.337 1998 1,598,679 12,368,620 4,917,241 3,147,912 2,550,170 3,173,673 991,342 2,122,193 1999 1,646,702 12,364,865 4,982,599 3,227,286 3,059,438 3,201,329 1,185,872 2,367,466 2000 1,771,674 14,097,987 5,208,558 4,274,713 3,057,689 2,268,001 1,112,173 3,099,046 2001 1,935,619 16,945,103 5,442,296 4,122,257 3,387,493 2,365,496 1,265,691 3,297,927 2002 2,037,531 18,324,474 4,928,950 3,820,433 4,127,565 2,231,400 1,552,229 3,612,736 2003 2,262,569 21,377,754 5,195,664 4,491,101 4,211,103 3,602,278 1,585,221 3,960,932 Year Investment Ended Fines and Special Developer Fair Lease Miscel- June 30 Forfeitures Assessments Fees Interest Value Revenue laneous Total 1994 23,817 2,678,541 3,292 2,711,696 1,000 254,951 30,794,638 1995 26,106 3,025,043 75,105 3,863,360 - 182,327 33,917,610 1996 44,468 2,793,167 4,115 3,963,260 149,241 34,612,427 1997 58,193 2,936,883 61,928 4,230,913 - 295,394 34,317,741 1998 63,318 1,570,972 63,363 4,029,921 220,742 139,847 36,957,993 1999 121,808 1,682,791 96,279 4,107,803 (712,678) 430,150 37,761,710 2000 227,020 1,713,394 91,754 4,751,804 (815,535) - 701,925 41,560,203 2001 110,201 2,241,074 306,528 4,935,428 1,986,648 - 2,822,339 51,164,100 2002 113,329 1,792,000 137,282 4,962,824 1,046,193 - 924,365 49,611,311 2003 140,889 1,868,674 249,748 5,030,632 412,363 770,728 55,159,656 Notes: 1. Includes General, Special Revenue, Debt Service and Capital Projects Funds. 2. Years ended June 30, 2001 and 2003 do not include $3,304,716 and $1,178,244 respectively for proceeds of Property Owner Debt (Assessment District Capital Project Fund) in order to keep comparisons consistent for all fiscal years. 3. Year ended June 30, 2003 includes $1,463,680 for interfund reimbursement of salaries and benefits from the Redevelopment Agency and Housing Authority in order to keep comparisons consistent for all fiscal years. 124 60,000,000 50,000,000 -' 40,000,000 -" 30,000,000 20,000,000 10,000,000 General Governmental Revenues by Source Last Ten Fiscal Years ■I 0 t9 19 1996 1 1 99& 1 999 l aa& 1 1 1 • Property Tax ❑ Other Taxes • Fines and Forfeitures O Lease Revenue ■ Tax Increment ® Intergovernmental • Special Assessments ❑ Miscellaneous ■ Transient Occupancy Tax •Sales and Use Tax El Licenses and Permits ❑ Charges for Services • Developer Fees • Interest 125 CITY OF RANCHO MIRAGE General Governmental Expenditures by Function Last Ten Fiscal Years Year Ended General Public Public Cultural & Capital Debt June 30 Government Safety Works Recreation Education Proiects Service 1994 $5,735,780 3,862,050 1,801,304 295,866 357,456 5,332,439 13,188,265 30,573,160 1995 6,192,714 4,112,585 2,031,978 403,652 357,541 7,888,276 11,193,600 32,180,346 1996 6,757,455 4,227,904 2,218,709 944,637 14,280,580 13,756,691 42,185,976 1997 6,131,250 4,537,262 2,397,630 1,236,331 6,515,465 11,831,681 32,649,619 1998 7,133,359 4,883,220 2,302,801 1,151,306 - 7,974,647 15,737,284 39,182,617 1999 7,144,055 4,912,780 2,505,508 1,234,781 8,470,482 9,758,758 34,026,364 2000 8,148,330 5,032,735 2,547,460 1,290,869 11,613,102 10,947,319 39,579,815 2001 8,815,776 5,330,290 2,870,181 1,434,143 24,591,935 12,118,496 55,160,821 2002 12,883,362 5,890,754 3,028,030 1,601,198 14,231,678 17 698 883 55,333,905 2003 10,818,466 6,914,063 3,256,957 1,724,009 - 13,744,579 17,575,546 54,033,620 Notes: 1. Includes General, Special Revenue, Debt Service and Capital Project Funds. 2. The Capital Projects component for Year Ended 2001 includes $8,483,971 loss on disposition of assets. 3. The General Govemment component for Year Ended 2003 includes $1,463,680 interfund reimbursement for salaries and benefits from the Redevelopment Agency and Housing Authority. The Capital Projects component does not include $101,440 for issuance of long-term debt to finance projects. The reason for this is to keep comparisons consistent for all fiscal years. Source: City of Rancho Mirage 126 Total 60,000,000 50,000,000 - ' 40,000,000 - 30,000,000 20,000,000 10,000,000 General Governmental Expenditures by Function Last Ten Fiscal Years Q 4 4 19 9 9 oo 4? 4? 4? ® General Government D Public Safety • Public Works ❑ Cultural & Recreation 0 Education • Capital Projects • Debt Service 127 CITY OF RANCHO MIRAGE Property Tax Levies and Collections Last Ten Fiscal Years Percent of Year Total Current Percent Delinquent Total Total Ended Tax Tax of Levy Tax Tax Collections June 30 Levy Collections Collected Collections Collections to Tax Levy 1994 $260,268 257,144 98.8% 14,727 271,871 104.5% 1995 507,565 459,605 90.6% 32,353 491,958 96.9% 1996 447,490 396,946 88.7% 43,478 440,424 98.4% 1997 409,260 383,969 93.8% 36,741 420,710 102.8% 1998 432,092 410,243 94.9% 42,669 452,912 104.8% 1999 432,402 431,461 99.8% 36,227 467,688 108.2% 2000 459,194 465,581 101.4% 38,191 503,772 109.7% 2001 584,306 587,223 100.5% 26,926 614,149 105.1% 2002 602,400 610,730 101.4% 28,993 639,723 106.2% 2003 652,969 687,506 105.3% 31,083 718,589 110.0% Notes: Proposition 13 limits cities to levying a tax rate for bonded indebtedness only after 1978. Levies and collections are for General Fund only excluding no -low property taxes. Current tax collections include supplemental taxes. Source: City Finance Division and County of Riverside. 128 Property Tax Levies and Collections Last Ten Fiscal Years 800,000 - 700,000 -/ 600,000 -V 500,000 -V 400,000 -V 300,000 -V 200,000 100,000 1 9 .9 19 19 1 9 9 , 19 19 ' 9 .9 2 � 0 � ��j 1 �00 • Total Tax Levy ▪ Total Tax Collections 129 Year Ended June 30 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 Secured Property $2,840,046,062 2,819,593,800 2,910,457,558 2,923,615,688 2,954,159,028 2,917,963,998 3,073,960,952 3,527,531,746 3,844,540,670 4,346,428,520 Source: County of Riverside Unsecured Property CITY OF RANCHO MIRAGE Schedule of Net Taxable Value Last Ten Fiscal Years Total Assessed Property Value 49,373,288 2,889,419,350 176,548,210 56,708,264 2,876,302,064 204,457,021 66,044,570 2,976,502,128 210,789,096 67,340,344 2,990,956,032 212,310,042 63,302,144 3,017,461,172 214,491,949 68,476,660 2,986,440,658 163,964,602 132,904,802 3,206,865,754 222,472,380 157,734,585 3,685,266,331 247,327,127 134,380,571 3,978,921,241 232,617,614 134,199,032 4,480,627,552 250,166,114 130 Less Less Property Homeowner's Exemptions Exemptions 18,811,684 19,440,597 20,998,200 21,164,500 21,729,042 22,510,602 22,719,684 23,355,186 24,695,222 26,071,744 Net Taxable Value 2,694,059,456 2,652,404,446 2,744,714,832 2,757,481,490 2,781,240,181 2,799,965,454 2,961,673,690 3,414,584,018 3,721,608,405 4,204,389,694 4,500,000,000 - 4,000,000,000 3,500,000,000 3,000,000,000 2,500,000,000 2,000,000,000 1,500,000,000 1,000,000,000 500,000,000 Schedule of Net Taxable Value Last Ten Fiscal Years 99 996 I 99 � I 9 , I 9 9 � 1 9 9 2 0 00 F o ol 1 0 02 1 0 0 131 ® Total Assessed Property Value i Net Taxable Value 132 CITY OF RANCHO MIRAGE Property Tax Rates - Direct and Overlapping Governments Last Ten Fiscal Years (per $100 of Assessed Value) 1993 -94 1994 -95 1995 -96 1996 -97 1997 -98 1998 -99 1999 -00 2000 -01 2001 -02 2002 -03 General 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 Debt Service - Desert Sands Unified School 0.09750 0.09750 0.09750 0.09750 0.09750 0.09750 0.09750 0.09750 0.09750 0.09750 Palm Springs Unified B, IA - 0.01196 0.03414 0.04041 0.05110 0.05620 0.05609 0.06192 0.06002 0.06052 Palm Springs Unified B,IB 0.00620 - - - - Palm Springs Unified School - - - - - - - - Desert Community College - - - - - - - - - Coachella Valley Water 0.02080 0.02080 0.02080 0.02080 0.02080 0.02080 0.02080 0.02080 0.02080 0.02080 District Coachella Valley Water 0.00770 0.00770 0.00750 0.00650 0.00610 0.00590 0.00190 0.00170 0.00170 0.00060 Improvement District 53 Coachella Valley Water 0.06340 0.06340 0.05940 0.05740 0.05670 0.05410 0.02890 0.02300 0.02160 0.02020 Improvement District 54 Coachella Valley Water 0.00580 0.00580 0.00580 Improvement District 16 Coachella Valley Water 0.03420 0.02840 0.01600 - - - - - Improvement District 57 Desert Water Agency 0.09000 0.09000 0.08000 0.08000 0.08000 0.08000 - 0.07000 0.07000 0.06000 Desert Hospital Debt Service 0.00066 Total 1.32626 1.32556 1.32114 1.30261 1.31220 1.31450 1.20519 1.27492 1.27162 1.25962 Source: County of Riverside 133 CITY OF RANCHO MIRAGE Special Assessment Billings and Collections Last Ten Fiscal Years Year Special Special Ratio of Ended Assessment Assessment Collections June 30 Billings Collections to Billings 1994 $2,148,564 2,119,733 98.7% 1995 2,059,768 2,035,040 98.8% 1996 2,268,594 2,244,021 98.9% 1997 2,149,680 2,100,218 97.7% 1998 1,968,357 1,928,189 98.0% 1999 2,108,764 2,106,399 99.9% 2000 1,943,918 1,934,623 99.5% 2001 2,038,794 2,043,399 100.2% 2002 2,303,434 2,273,616 98.7% 2003 1,814,574 1,778,874 98.0% Note: Special assessment collections include prepayments, foreclosures and penalties. Source: Riverside County and the City of Rancho Mirage 134 Special Assessment Billings and Collections Last Ten Fiscal Years CITY OF RANCHO MIRAGE Computation Of Legal Debt Margin Year Ended June 30, 2003 Assessed Valuation $4 480.627.552 Debt Limit - 15% of Assessed Valuation 672,094,133 Amount of Debt Applicable to Debt Limit Legal Debt Margin $672.094.133 Notes: Section 43605 of the Government Code of the State of California limits the amount of indebtedness for public improvements to 15% of the assessed valuation of all real and personal property of the City. The City of Rancho Mirage has no general bonded indebtedness. Source: Riverside County and the City of Rancho Mirage 136 OVERLAPPING TAX AND ASSESSMENT DEBT: CITY OF RANCHO MIRAGE Schedule of Direct and Overlapping Bonded Debt Year Ended June 30, 2003 Desert Sands Unified School District Lease Tax Obligations Palm Springs Unified School District Coachella Valley Water District, Improvement District No. 53 Coachella Valley Water District, Improvement District No. 54 Riverside County Assessment District No. 150 1915 Act Bonds City of Rancho Mirage 1915 Act Bonds Coachella Valley Water District Assessment District No. 68 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT DIRECT AND OVERLAPPING LEASE OBLIGATION DEBT: Riverside County General Fund Obligations Riverside County Board of Education Certificates of Participation Desert Sands Unified School District Certificates of Participation Coachella Valley Water District, Improvement District No. 71 Certificates of Participation Coachella Valley Recreation and Park District Certificates of Participation City of Rancho Mirage Authority TOTAL GROSS DIRECT AND OVERLAPPING LEASE OBLIGATION DEBT Less: Riverside County Administrative Center Authority (100% self-supporting from tax increment revenues) TOTAL NET OVERLAPPING LEASE OBLIGATION DEBT GROSS COMBINED TOTAL DEBT (1) NET COMBINED TOTAL DEBT (1) Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax allocation bonds and non - bonded capital lease obligations. Ratios to 2002 -03 Assessed Valuation: Total Overlapping Tax and Assessment Debt 0.95% Ratios to Adjusted Assessed Valuation Combined Direct Debt ($3,195,000) Gross Combined Total Debt Net Combined Total Debt 0.20% 3.73% 3.69% STATE SCHOOL BUILDING AID REPAYABLE AS OF 6/30/03: $0 Source: California Municipal Statistics, Inc. 137 June 30, 2003 Applicable Bonded Debt 3.359 16.042 45.505 8.749 66.347 100.000 13.753 $ 858,561 19,476,592 216,149 548,125 112,790 18,546,929 352,077 $ 40,111,223 1.964 $ 12,328,796 1.937 280,101 3.359 814,253 14.174 1,615,836 2.879 78,021 100.000 3,150,000 $ 18,267,007 554,468 $ 17,712,539 $ 58,378,230 $ 57,823,762 Revenue Library Lease Available for Debt Service Requirements Revenue Bonds Debt Service Principal Interest Total Coverage FY 1993 -94 $541,960 165,000 376,960 541,960 11x) FY 1994 -95 541,080 175,000 366,080 541,080 1 00 FY 1995 -96 124,362 124,362 124,362 1 00 FY 1996 -97 222,836 10,000 212,836 222,836 1 00 FY 1997 -98 241,411 30,000 211,411 241,411 1.00 FY 1998 -99 239,274 30,000 209,274 239,274 1.00 FY 1999 -00 241,958 35,000 206,958 241,958 1.00 FY 2000 -01 239,464 35,000 204,464 239,464 1.00 FY 2001 -02 241,793 40,000 201,793 241,793 1.00 FY 2002 -03 243,764 45,000 198,764 243,764 1.00 Civic Center Revenue Bonds FY 1993 -94 709,934 709,934 709,934 1.00 FY 1994 -95 329,137 65,000 264,137 329,137 1.00 FY 1995 -96 329,978 70,000 259,978 329,978 1.00 FY 1996 -97 330,357 75,000 255,357 330,357 1.00 FY 1997 -98 330,257 80,000 250,257 330,257 1.00 FY 1998 -99 329,658 85,000 244,658 329,658 1.00 FY 1999 -00 328,623 90,000 238,623 328,623 1.00 FY 2000 -01 327,143 95,000 232,143 327,143 1.00 FY 2001 -02 - FY 2002 -03 - - Notes: Revenue available for Library Lease Revenue Bonds consists of lease payments made by the City of Rancho Mirage to the Rancho Mirage Joint Powers Financing Authority. Principal and interest for Library Lease Revenue Bonds declined from FY 1994 -95 to FY 1995 -96 due to refinancing of 1991 Library Lease Revenue Bonds during FY 1995 -96. Civic Center Revenue Bonds were refunded in full in July 2001. In prior years, the revenue available consisted of property tax revenues received by the Rancho Mirage Redevelopment Agency that were used to make loan payments to the Rancho Mirage Joint Powers Financing Authority. Interest expenditure for Civic Center Revenue Bonds declined from FY 1992 -93 to FY 1993 -94 due to partial refinancing of outstanding debt during FY 1993 -94. Source: City of Rancho Mirage CITY OF RANCHO MIRAGE Revenue Bond Coverage Library Lease and Civic Center Revenue Bonds Last Ten Fiscal Years 138 CITY OF RANCHO MIRAGE Demographic Statistics Last Ten Fiscal Years City Year Population Riverside Population Ended Square Percent County Percent June 30 Miles Population Change Population Of County 1994 23.7 10,699 0.8% 1,357,443 0.8% 1995 24.5 10,745 0.4% 1,376,198 0.8% 1996 24.5 10,558 -1.7% 1,381,879 0.8% 1997 24.5 10,548 -0.1% 1,379,956 0.8% 1998 24.7 11,043 4.7% 1,441,237 0.8% 1999 24.7 11,419 3.4% 1,473,307 0.8% 2000 24.7 11,942 4.6% 1,522,855 0.8% 2001 24.7 13,915 16.5% 1,609,356 0.9% 2002 24.7 14,345 3.1% 1,644,300 0.9% 2003 24.7 14,965 4.3% 1,705,500 0.9% Sources: City of Rancho Mirage, Riverside County Economic Development Agency, and California Department of Finance. 139 CITY OF RANCHO MIRAGE Assessed Property Value, Construction and Bank Deposit Activity Last Ten Fiscal Years Total Year Assessed Number of . Ended Property Percent Building Permits Percent Estimated Percent Bank Percent June 30 Value Change Issued Change Valuation Change Deposits Change 1994 $2,889,419,350 2.1% 988 9% 23,537,059 -6% 367,117,000 27% 1995 2,876,302,064 -0.5% 956 -3% 28,489,623 21% 327,806,000 -11% 1996 2,976,502,128 3.5% 1,334 40% 28,875,326 1% 319,510,000 -3% 1997 2,990,956,032 0.5% 1,164 -13% 49,106,334 70% 314,568,000 -1.5% 1998 3,017,461,172 0.9% 1,426 23% 91,673,900 87% 321,632,000 2.2% 1999 2,986,440,658 -1.0% 1,534 8% 153,107,257 67% 244,548,000 -24% 2000 3,206,865,754 7.4% 1,633 6% 137,526,709. -10% 294,914,000 21% 2001 3,685,266,331 14.9% 1,798 10% 169,409,356 23% 316,649,000 7% 2002 3,978,921,241 8.0% 2,090 16% 199,039,605 17% 319,178,000 I% 2003 4,480,627,552 12.6% 2,232 7% 203,571,320 2% * Not Available Sources: City of Rancho Mirage and Findley Reports on California Financial Institutions 140 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 Construction Activity Last Ten Fiscal Years Estimated Valuation of Building Permits Issued! 2,500 - - 2,000 1,500 1,000- 500 0— si X9 .9 ! ' 9 9 1 � x ,9 , 9 Fiscal Year Ended June 30 Number of Building Permits Issued I j0 0 I99 IT ,99Os lfl r T 99, 199 1 & ,99'9 00 20 2�0 S Fiscal Year Ended June 30 141 CITY OF RANCHO MIRAGE Principal Property Taxpayers Year Ended June 30, 2003 Percentage of Total Assessed Property Owner Primary Land Use Assessed Value Valuation (11 Starwood Mission Hills CMBS Hotel $140,009,774 3.22% LLC SHC Rancho Hotel 61,743,622 1.42% Rancho Mirage River Commercial 48,137,031 1.11% Eisenhower Medical Center (2) Professional - Medical 37,974,558 0.87% Olympus Rancho Mirage Hotel 28,425,524 0.65% Thunderbird Terrace Condominiums 27,162,925 0.62% Pan Pacific (Rancho Las Shopping Center 24,581,851 0.57% Palmas) LLC Mission Hills Country Club Inc. Residential 24,453,187 0.56% Walter H. Annenberg Residential 23,254,477 0.54% SHP Mirage Inn Hotel 20,528,637 0.47% $436,271,5$6 10.04% (1) Local Secured Assessed Valuation: $4,346,428,520 (2) Taxable property only. Source: California Municipal Statistics, Inc. and Riverside County 142 CITY OF RANCHO MIRAGE Miscellaneous Statistical Data June 30, 2003 Date of Incorporation August 3, 1973 Type of City Charter Form of Government Council/Member City Employees 76 City Land Area (square miles) 24.77 Population 14,965 Number of Parks 5 Total Acreage 12.6 Miles of Streets (Public) 74.0 Miles of Bike Paths (Public) 20.9 Number of Major Intersections 26 Number of Traffic Signals and Safety Lighting 4 7 Number of Traffic Signs 2,051 Number of Street Lights 192 Public Schools 1 Private Schools 2 Religious Institutions 3 Banks Hospitals 9 1 Number of Single Family Units - Detached 6,157 Number of Single Family Units - Attached 3,990 Number of Multiple Family Units 1,430 Number of Mobile Homes 844 Source: City of Rancho Mirage 143 144 CITY OF RANCHO MIRAGE 69 -825 Highway 111, Rancho Mirage, CA 92270 www.ci.rancho-mirage.ca.us DESIGN: Krikorian Design • PHOTOGRArHY: Avra Photography