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1993-1994 CAFR i .. I 1 i CITY OF CHINO HILLS Annual Financial Report Fiscal Year Ended June 30, 1994 , r i 1 I , i Moreland & cwie,,teA, 1 CERTIFIED PUBLIC ACCOUNTANTS CITY OF CHINO HILLS Annual Financial Report Year Ended June 30, 1994 TABLE OF CONTENTS PAGE INDEPENDENT AUDITORS' REPORT 1 GENERAL PURPOSE FINANCIAL STATEMENTS: Combined Balance Sheet - All Fund Types and Account Groups 2 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types 6 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - All Governmental Fund Types 8 Combined Statement of Revenues, Expenses and Changes in Retained Earnings - All Proprietary Fund Types 11 Combined Statement of Cash Flows - All Proprietary Fund Types 12 Notes to Financial Statements 13 SUPPLEMENTARY INFORMATION: All Special Revenue Funds Combining Balance Sheet 46 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 50 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual 54 All Debt Service Funds Combining Balance Sheet 62 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 63 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual 64 All Capital Projects Funds Combining Balance Sheet 66 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 70 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual 74 CITY OF CHINO HILLS Annual Financial Report Year Ended June 30, 1994 TABLE OF CONTENTS (Continued) PAGE Combining Balance Sheet - All Enterprise Funds 84 Combining Statement of Revenues, Expenses and Changes in Retained Earnings - All Enterprise Funds 86 Combining Statement of Cash Flows - All Enterprise Funds 88 All Agency Funds Combining Balance Sheet 90 Combining Statement of Changes in Assets and Liabilities - All Agency Funds 94 Schedule of General Long-Term Debt 101 610 NEWPORT CENTER DRIVE,SUITE 840 NEWPORT BEACH,CALIFORNIA 92660 Moreland & over, (714)760-9788 CERTIFIED PUBLIC ACCOUNTANTS 2111 PALOMAR AIRPORT ROAD,SUITE 150 CARLSBAD,CALIFORNIA 92009 (619)431-8476 • January 24, 1995 The Honorable City Council of the City of Chino Hills, California Independent Auditors' Report We have audited the accompanying general purpose financial statements of the City of Chino Hills, California, as of and for the year ended June 30, 1994, as listed in the table of contents. These financial statements are the responsibility of the City of Chino Hills management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the City of Chino Hills at June 30, 1994, and the results of its operations and the cash flows of its proprietary fund type for the year then ended, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole. The accompanying combining financial statements and schedule listed as supplementary information in the table of contents are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Chino Hills. The information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. 1 , CITY OF CHINO HILLS Combined Balance Sheet All Fund Types and Account Groups June 30, 1994 Governmental Fund Types Special Debt Capital General Revenue Service Projects Assets and Other Debits Fund Funds Fund Funds Cash and investments (Note 2) $ 4,666,678.- $ 21,540,688 $ 237,263 $ 15,124,985 - Cash and investments with fiscal agents(Note 2) 252,000 Restricted cash and investments Receivables (net,where applicable of allowance): Accounts 13,155 280,258 Interest 151,497 183,365 120,260 Taxes 95,996 31,215 Special assessments receivable 930,899 Deposit with Water Facilities Authority(Note 12) Lease payments receivable(Note 13) Installment receivable (Note 14) Due from other funds (Note 3) 12,479 Materials and supplies inventories Advances to other funds 1,612,600 Deferred charges Property, plant and equipment, net (Note 4) Investment in Water Facilities Authority(Note 12) Amount available for long—term debt Amount to be provided for retirement of long—term debt Total Assets and Other Debits $ 4,939,805 $ 24,579,025 $ 489,263 $ 15,245,245 See Accompanying Notes to Financial Statements. 2 Proprietary Fiduciary Fund Fund Type Account Groups General General Totals Enterprise Agency Fixed Long—Term (Memorandum Only) Fund Fund Assets Debt 1994 1993 $ 9,780,380 $ 33,716,445 $ 85,066,439 $ 91,398,317 14,020 2,139,787 2,405,807 2,253,402 2,584,000 1,227,470 27,727 1,548,610 1,133,605 61,790 170,991 687,903 1,608,418 127,211 101,026 138,317 1,069,216 1,514,986 206,262 206,262 205,078 2,561,220 2,561,220 2,741,641 2,501,584 2,501,584 2,501,584 114,129 126,608 159,718 196,892 196,892 202,622 1,612,600 50,000 564,255 564,255 588,097 55,615,596 $ 15,202,768 70,818,364 67,694,915 5,264,992 5,264,992 5,422,712 $ 253,002 253,002 253,967 43,026,375 43,026,375 38,734,595 $ 78,108,590 $ 36,193,267 $ 15,202,768 $ 43,279,377 $ 218,037,340 $ 219,148,683 (Continued) 3 CITY OF CHINO HILLS Combined Balance Sheet All Fund Types and Account Groups (Continued) June 30, 1994 Governmental Fund Types Special Debt Capital General Revenue Service Projects Liabilities,Equity and Other Credits Fund Funds Fund Funds Liabilities: Accounts and contracts payable $ 383,962 $ 1,752,016 $ 236,261 $ 863,417 Salaries and benefits payable 143,929 63,825 Deposits Retentions payable 206,447 Due to other funds (Note 3) 3,637 122,798 Due to other governments Due to Chino Basin Municipal Water District Deferred compensation payable (Note 7) Funds held for others Notes payable Advances from other funds 1,612,600 Accrued interest payable to Inland Empire Public Facilities Corporation Long—term debt (Note 9) Total Liabilities —531,528 1,938,639 236,261 2,682,464 Equity and Other Credits: Investment in general fixed assets Contributed capital(Note 15) Retained earnings Fund balances: Reserved(Note 18) 348,762 3,016,497 249,000 696,063 Unreserved, designated (Note 18) 1,535,663 11,866,718 Unreserved,undesignated 4,059,515 18,088,226 4,002 Total Equity and Other Credits 4,408,277 22,640,386 253,002 12,562,781 Total Liabilities,Equity and Other Credits $ 4,939,805 $ 24,579,025 $ 489,263 $ 15,245,245 See Accompanying Notes to Financial Statements. 4 Proprietary Fiduciary Fund Fund Type Account Groups General General Totals Enterprise Agency Fixed Long—Term (Memorandum Only) Fund Fund Assets Debt 1994 1993 $ 1,267,234 $ 263,378 ,, $ 4,766,268 $ 9,038,438 59,065 266,819 294,926 605,858 . 2,270,541 2,876,399 2,638,507 206,447 173 126,608 141,718 71,624 7,388,000 7,388,000 5,453,386 344,626 344,626 4,282 25,926,722 25,926,722 24,994,943 2,500,825 1,612,600 50,000 108,428 108,428 112,002 30,939,396 $ 43,279,377 74,218,773 67,884,060 32,980,154 36,193,267 43,279,377 117,841,690 113,184,711 $ 15,202,768 15,202,768 14,870,643 37,955,260 37,955,260 35,626,704 7,173,176 7,173,176 6,553,856 4,310,322 14,428,296 13,402,381 1,216,615 22,151,743 33,267,858 45,128,436 15,202,768 100,195,650 105,963,972 $ 78,108,590 $ 36,193,267 $ 15,202,768 $ 43,279,377 $ 218,037,340 $ 219,148.683 5 CITY OF CHINO HILLS Combined Statement of Revenues,Expenditures and Changes in Fund Balances — All Governmental Fund Types For the Year Ended June 30, 1994 Special Debt General Revenue Service Revenues: Taxes (Note 5) $ 4,858,617 Special assessments $ 6,266,048 Licenses and permits 992,796 Use of money and property 683,437 868,067 $ 9,527 Intergovernmental 15,762 5,282,797 Development fees 1,539,333 Contribution from developers 425,318 Charges for services 343,849 2,661,325 Fines and forfeitures 192,125 Other 346,187 94,279 Total Revenues 7,432,773 16,711,849 434,845 Expenditures: Current: General government 2,725,153 215,057 4,308 Public safety 2,847,104 Public works 735,178 7,368,240 2,700 Community development 1,199,263 Contributions to assessment districts 2,905,540 Capital outlay 132,353 8,200,075 Debt service: Principal retirement 8,684 1,616,591 1,125,150 Interest and fiscal charges 1,528 167,291 120,050 Total Expenditures 7,649,263 20,472,794 1,252,208 Excess(Deficiency) of Revenues Over Expenditures (216,490) (3,760,945) (817,363) Other Financing Sources(Uses): Proceeds from long—term debt 41,960 8,043,028 Operating transfers in 1,685,453 3,027,697 676,588 Operating transfers out (5,085,985) Total Other Financing Sources(Uses) 1,727,413 5,984,740 676,588 Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses 1,510,923 2,223,795 (140,775) Fund Balances — Beginning of Year, Restated(Note 17) 2,306,955 21,267,332 393,777 Equity transfers in(Note 16) 590,399 447,191 Equity transfers out(Note 16) (1,297,932) Fund Balances — End of Year $ 4,408,277 $ 22,640,386 $ 253,002 See Accompanying Notes to Financial Statements. 6 Totals Capital (Memorandum Only) Projects 1994 1993 $ 4,858,617 $ 4,507,119 6,266,048 6,652,550 992,796 976,684 $ 816,092 2,377,123 3,763,620 5,298,559 1,332,403 1,539,333 7,250,505 425,318 3,212,278 3,005,174 397,063 192,125 81,839 211,120 651,586 633,607 1,027,212 25,606,679 28,807,668 2,944,518 2,635,216 2,847,104 3,282,098 1,330,680 9,436,798 13,568,641 1,199,263 1,072,272 2,905,540 10,864,704 19,197,132 7,789,424 1,236,387 3,986,812 7,270,398 288,869 422,813 13,431,771 42,806,036 36,040,862 (12,404,559) (17,199,357) (7,233,194) 156,226 8,241,214 5,043,291 313,600 5,703,338 9,751,058 (5,085,985) (9,026,725) 469,826 8,858,567 5,767,624 (11,934,733) (8,340,790) (1,465,570) 24,944,705 48,912,769 50,774,746 1,037,590 (447,191) (1,745,123) (396,407) $ 12,562,781 $ 39,864,446 $ 48,912,769 7 CITY OF CHINO HILLS Combined Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Governmental Fund Types For the Year Ended June 30, 1994 General Fund Variance Favorable Budget Actual (Unfavorable) Revenues: Taxes(Note 5) $ 4,403,424 $ 4,858,617 $ 455,193 Special assessments Licenses and permits 1,056,452 992,796 (63,656) Use of money and property 321,192 683,437 362,245 Intergovernmental 25,270 15,762 (9,508) Development fees Contribution from developers Charges for services 536,964 343,849 (193,115) Fines and forfeitures 150,484 192,125 41,641 Other 19,164 346,187 327,023 Total Revenues 6,512,950 7,432,773 919,823 Expenditures: Current: General government 3,247,493 2,725,153 522,340 Public safety 3,360,866 2,847,104 513,762 Public works 1,126,183 735,178 391,005 Community development 1,333,707 1,199,263 134,444 Contributions to assessment districts Capital outlay 359,144 132,353 226,791 Debt service: Principal retirement 8,684 (8,684) Interest and fiscal charges 1,528 (1,528) Total Expenditures 9,427,393 7,649,263 1,778,130 Excess(Deficiency) of Revenues Over Expenditures (2,914,443) (216,490) 2,697,953 Other Financing Sources (Uses): Proceeds of long—term debt 41,960 41,960 Operating transfers in 1,835,472 1,685,453 (150,019) Operating transfers out Total Other Financing Sources(Uses) 1,835,472 1,727,413 (108,059) Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses (1,078,971) 1,510,923 2,589,894 Fund Balances — Beginning of Year,Restated(Note 17) 2,306,955 2,306,955 Equity transfers in(Note 16) 590,399 590,399 Equity transfers out(Note 16) Fund Balances — End of Year $ 1,227,984 $ 4,408,277 $ 3,180,293 See Accompanying Notes to Financial Statements. 8 Special Revenue Funds Debt Service Funds Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 6,564,384 $ 6,266,048 $ (298,336) 719,196 868,067 148,871 $ 33,000 $ 9,527 $ (23,473) 1,709,472 5,282,797 3,573,325 3,444,588 1,539,333 (1,905,255) 425,500 425,318 (182) 2,982,476 2,661,325 (321,151) 475,440 94,279 (381,161) 15,895,556 16,711,849 816,293 458,500 434,845 (23,655) 511,898 215,057 296,841 4,400 4,308 92 25,098,855 7,368,240 17,730,615 2,700 (2,700) 2,339,796 2,905,540 (565,744) 10,370,683 8,200,075 2,170,608 2,955,200 1,616,591 1,338,609 1,128,900 1,125,150 3,750 8,500 167,291 (158,791) 120,100 120,050 50 41,284,932 20,472,794 20,812,138 1,253,400 1,252,208 1,192 (25,389,376) (3,760,945) 21,628,431 (794,900) (817,363) (22,463) 97,700 8,043,028 7,945,328 3,500,030 3,027,697 (472,333) 676,588 676,588 (5,708,333) (5,085,985) 622,348 (2,110,603) 5,984,740 8,095,343 676,588 676,588 (27,499,979) 2,223,795 29,723,774 (794,900) (140,775) 654,125 21,267,332 21,267,332 393,777 393,777 447,191 447,191 (1,297,932) (1,297,932) $ (6,232,647) $ 22,640,386 $ 28,873,033 $ (401,123) $ 253,002 $ 654,125 (Continued) 9 CITY OF CHINO HILLS Combined Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Governmental Fund Types (Continued) For the Year Ended June 30, 1994 Capital Projects Funds Variance Favorable Budget Actual (Unfavorable) Revenues: Taxes (Note 5) Special assessments Licenses and permits Use of money and property $ 442,700 $ 816,092 $ 373,392 Intergovernmental Development fees Contribution from developers Charges for services Fines and forfeitures Other 150,000 211,120 61,120 Total Revenues 592,700 1,027,212 434,512 Expenditures: Current: General government Public safety Public works 8,714,376 1,330,680 7,383,696 Community development Contributions to assessment districts Capital outlay 25,506,095 10,864,704 14,641,391 Debt service: Principal retirement 1,236,396 1,236,387 9 Interest and fiscal charges Total Expenditures 35,456,867 13,431,771 22,025,096 Excess(Deficiency) of Revenues Over Expenditures (34,864,167) (12,404,559) 22,459,608 Other Financing Sources (Uses): Proceeds of long—term debt 156,226 156,226 Operating transfers in 313,600 313,600 Operating transfers out Total Other Financing Sources(Uses) 313,600 469,826 156,226 Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses (34,550,567) (11,934,733) 22,615,834 Fund Balances — Beginning of Year,Restated(Note 17) 24,944,705 24,944,705 Equity transfers in(Note 16) Equity transfers out(Note 16) (447,191) (447,191) ' Fund Balances — End of Year $ (9,605,862) $ 12,562,781 $ 22,168,643 See Accompanying Notes to Financial Statements. 10 CITY OF CHINO HILLS Combined Statement of Revenues,Expenses and Changes in Retained Earnings All Proprietary Fund Types For the Year Ended June 30, 1994 Total (Memorandum Only) 1994 1993 Operating Revenues: Water sales $ 6,978,561 $ 6,605,534 Sanitation services 3,270,779 2,552,635 Permit and inspection fees 138,397 101,816 Meter and installation fees 137,642 157,391 Developer fees 422,166 Other 275,735 257,985 Total Operating Revenues 11,223,280 9,675,361 Operating Expenses: Purchased water 2,772,030 2,272,361 Salaries and benefits 1,125,196 1,053,460 Utilities 719,337 521,358 Professional services 1,688,014 2,339,204 Depreciation and amortization 1,524,398 1,565,493 Repairs and maintenance 201,142 248,167 Services and supplies 119,951 78,652 Other general and administrative 25,320 57,105 Total Operating Expenses 8,175,388 8,135,800 Operating Income 3,047,892 1,539,561 Non—Operating Revenues(Expenses): Loss on investment in Water Facilities Authority(Note 12) (203,561) (394,045) Interest earnings 268,794 721,269 Grant revenue 43,223 Loss on disposal of fixed assets (57,590) Interest expense (1,511,975) (769,851) Net Non—Operating Expenses (1,461,109) (442,627) Net Income Before Operating Transfers 1,586,783 1,096,934 Operating transfers in 265,035 Operating transfers out (617,353) (989,368) Net Income 969,430 372,601 Add back depreciation expense on contributed assets 480,331 69,379 Retained Earnings,Beginning of Year,Restated(Note 17) 6,553,856 6,111,876 Equity transfer out(Note 16) (830,441) Retained Earnings,End of Year $ 7,173,176 $ 6,553,856 See Accompanying Notes to Financial Statements. 11 CITY OF CHINO HILLS Combined Statement of Cash Flows All Proprietary Fund Types For the Year Ended June 30, 1994 Total (Memorandum Only) 1994 1993 Cash Flows from Operating Activities: Operating income $ 3,047,892 $ 1,539,561 Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation and amortization 1,524,398 1,565,493 Changes in operating assets and liabilities: (Increase)in accounts receivable (100,319) (238,575) (Increase)in due from other funds (22,395) (48,612) (Increase)decrease in materials and supplies inventory 5,730 (9,209) Increase(decrease)in accounts and construction contracts payable (36,201) 438,126 Increase(decrease)in salary and benefits payable (43,061) 53,236 Increase in customer deposits 32,942 32,200 Increase (decrease)in due to other funds (6,131) 6,304 Net Cash Provided by Operating Activities 4,402,855 3,338,524 Cash Flows from Noncapital Financing Activities: Operating grants 43,223 Equity transfer out (590,399) Operating transfers out (617,353) (724,333) Net Cash Used for Non—Capital Financing Activities (1,164,529) (724,333) Cash Flows from Capital and Related Financing Activities: Loan from Chino Basin Municipal Water District 1,134,861 Payment to Water Facilites Authority (155,179) Repayment of advances for construction (82,962) (140,539) Repayment of inspection deposits (1,057,348) Payment of developer program obligations (981,699) Contributed capital received 1,350,181 1,153,465 Principal paid on installment obligation (320,000) (300,000) Interest paid on installment obligation (1,515,549) (796,728) Payments on capital lease obligations (63,858) (59,165) Purchases of property, plant and equipment (522,495) (888,571) Lease payments received 404,723 165,540 Net Cash Used for Capital and Related Financing Activities (905,139) (1,770,184) Cash Flows from Investing Activities: Interest received 157,863 602,485 Increase in cash and cash equivalents 2,501,611 1,446,492 Cash and Cash Equivalents at Beginning of Year,Restated(Note 17) 7,292,789 5,846,297 Cash and Cash Equivalents at End of Year $ 9,794,400 $ 7,292,789 See Accompanying Notes to Financial Statements. 12 CITY OF CHINO HILLS • Notes to Financial Statements June 30, 1994 1. SIGNIFICANT ACCOUNTING POLICIES Description of the Reporting Entity: The City of Chino Hills (the "City") was incorporated December 1, 1991 under the General Laws of the State of California. The City is comprised of a combination of the San Bernardino County Service Area No. 70, Zone Chino Hills, portions of the County of San Bernardino, and San Bernardino County Waterworks No. 8. The City operates under a Council-Manager form of government and provides the following services: contracted police,lighting and landscaping,public improvements, water, sanitation, planning and zoning and general administrative services, animal control, building and safety, community services and street and highway maintenance. The financial reporting entity, as defined by GASB codification Section 2100.111, consists of the primary government (City of Chino Hills), organizations for which the primary government is financially accountable,and other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete. The City of Chino Hills City Council either acts as, or appoints a voting majority of, the governing body and is able to impose its will on the Chino Hills Capital Improvement Corporation, establishing financial accountability. As a result, the Corporation is considered a component unit of the City of Chino Hills and, accordingly, is included (blended) within the financial statements of the City. Separate financial statements of the Corporation are not prepared. The Corporation, a California nonprofit public benefit corporation,was established on May 19, 1992 to facilitate the financing of capital improvements on behalf of the City of Chino Hills. There are many other governmental agencies, including the Chino Valley Independent Fire Protection District, the County of San Bernardino, and the Chino Unified School District providing services within the City. These other governmental agencies have independently elected governing boards and consequently are not under the direction of the City. Financial information for these agencies is not included in the accompanying financial statements. Governmental Fund Types: The General Fund is used to account for all revenues and activities financed by the City which are not accounted for in another fund. 13 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Special Revenue Funds are used to account for taxes and other revenues which are set aside for a specific purpose in accordance with law or administrative regulation. Debt Service Funds are used to account for the current interest and principal payments on the general long-term debt. Capital Projects Funds are used to account for resources used for the acquisition and construction of major capital facilities. Proprietary Fund Type: Enterprise Fund is used to account for operations that are financed and operated in a manner similar to private business enterprises, where the stated intent is that the cost of providing goods and services to the general public on a continued basis be financed or recovered through user charges. Fiduciary Fund Type: Agency Funds are used to account for money and property held by the City as trustee or custodian. They are also used to account for various assessment districts for which the City acts as an agent for debt service activity. Account Groups: General Fixed Assets Account Group is used to account for capital assets of the City which are long-term in nature, and used in the operation of the City other than those which are capitalized in the proprietary fund. General Long-Term Debt Account Group is used to account for the City's outstanding long-term obligations other than those which are included in the proprietary fund. Measurement Focus and Basis of Accounting: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. 14 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 The proprietary fund is accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and all liabilities associated with the operation of the fund are included on the balance sheet. Fund equity (i.e., net total assets) is segregated into contributed capital and retained earnings components. Proprietary fund-type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. The modified accrual basis of accounting is followed for the governmental and fiduciary fund types (General, Special Revenue, Debt Service, Capital Projects and Agency Funds). Under the modified accrual basis of accounting, revenues are recognized when they become susceptible to accrual; i.e., when they become measurable and available to finance expenditures of the current period or soon enough thereafter to be used to pay liabilities of the current period. The City considers property taxes as available if they are remitted within 60 days after the year end. Other revenues considered susceptible to accrual include sales taxes, interest income and charges for services. Licenses and permits,fines and forfeitures and other taxes are not susceptible to accrual because they are not measurable until received in cash. Grant revenues have been recorded according to the provisions of GASB Cod. Sec. G60,whereby grant funds earned but not received are recorded as a receivable, and grants received before the related revenue recognition criteria have been met are reported as deferred revenues. Expenditures are recorded when the related fund liability is incurred, except that principal and interest on general long-term debt is recognized when due. The long-term liability to be paid from governmental funds' resources for accumulated unpaid vacation, sick pay, and compensatory time is recorded in the General Long-Term Debt Account Group as it is expected to be paid from future resources. The full accrual method of accounting is followed by the City's proprietary fund type (Enterprise). Revenues are recognized when earned, and expenses are recognized when incurred. Unbilled receivables are recorded at year end. Budget Procedures: All financial activities of the General Fund, Special Revenue Funds, Debt Service Fund and Capital Projects Funds are part of the appropriated budget. Appropriated amounts are as originally adopted or as amended by the City Council throughout the year. The following general procedures are followed in establishing the annual budget: 1) The annual budget adopted by the City Council provides for the general operation of the City. It includes proposed expenditures and estimated revenues. 15 CITY OF CHINO HILT S Notes to Financial Statements (Continued) June 30, 1994 2) The City Manager is authorized to transfer appropriations between items, accounts, programs, and funds. The budgeted amounts used in the combined financial statements are the final adjusted amounts, which do not vary significantly from the original adopted budget. 3) The budget is formally integrated into the accounting system and employed as a management control device during the year for all funds. 4) The budget is adopted on an annual basis. 5) The budget is adopted on a basis consistent with generally accepted accounting principles. The modified accrual basis of accounting is employed in the preparation of the budget. 6) At fiscal year-end,operating budget appropriations lapse;however,incomplete capital improvement project appropriations within Capital Projects Funds, and authorized non-capital appropriations, can be carried over to the following fiscal year as approved by the City Council. 7) The legally adopted budget requires that expenditures not exceed appropriations at the City level. Encumbrances: Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriations, is employed as an extension of formal budgetary integration in governmental funds. Amounts encumbered at year-end are reappropriated in the following year. Investments: Investments are stated at cost except for investments of the deferred compensation plan which are stated at market value. (See Notes 2 and 7). Materials and Supplies Inventories: Materials and supplies consist of water pipe, meters,valves, tools and miscellaneous items used in installing, monitoring and repairing these items. The water pipe, meters, valves and long-term items are removed from inventory and capitalized as fixed assets and depreciated upon installation. The remaining items are recorded as expenses when used in accordance with the consumption method. Inventories are recorded at the lower of cost or market on a FIFO (first-in, first-out) basis. 16 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 General Fixed Assets: General fixed assets are recorded as expenditures in the various governmental funds at the time of purchase. Such assets include land,buildings,building improvements, furniture, fixtures, and equipment, and are capitalized at historical cost in the General Fixed Assets Account Group. Donated fixed assets are recorded at their fair market value on the date donated. The cost of roads and streets, bridges, curbs and gutters, and lighting systems are not capitalized. No depreciation is provided on general fixed assets. Enterprise Fund Fixed Assets: Fixed assets purchased for the Enterprise Fund are capitalized at cost, while contributed assets are recorded at fair market value at the time received. Depreciation has been provided on a straight-line basis over their estimated useful lives as follows: Equipment 3 - 12 years Vehicles 4 - 10 years Utility Plant in Service 5 - 100 years Meters 30 years Pipeline in Service 40 - 75 years Interest is capitalized on enterprise fund assets acquired with debt. The amount of interest to be capitalized is calculated by offsetting interest expense incurred from the date of the borrowing until completion of the project with interest earned on invested proceeds over the same period. Compensated Absences: In accordance with GASB Cod. Sec. C60, the City of Chino Hills records a liability for vacation and compensatory leave that is earned and unused at year-end; sick leave liability recorded has been estimated using the 'besting method" which is calculated "... based on the sick leave accumulated at the balance sheet date by those employees who currently are eligible to receive termination payments as well as other employees who are expected to become eligible in the future to receive such payments." Vacation, sick and compensatory leave liabilities relating to governmental funds has been recorded in the General Long-Term Debt Account Group, as these amounts are expected to be paid from future resources; liabilities relating to proprietary funds are recorded within those respective funds. 17 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Deferred Issuance Costs: Deferred issuance costs represent capitalized costs incurred in connection with the issuance of long-term debt. These costs are amortized on a straight-line basis,which approximates the interest method. Balance at July 1, 1993 $588,097 1993-94 Amortization Expense (23,842) Balance at June 30, 1994 $564255 Total Column on Combined Statements: The total column on the Combined Financial Statements is captioned "Memorandum Only" to indicate that it is presented only to facilitate financial analysis and such data is not comparable to a consolidation. Data in this column does not present financial position, results of operations, or changes in financial position in conformity with generally accepted accounting principles. Interfund eliminations have not been made in the aggregation of this data. Comparative Data: Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial position and operations. However, comparative data by fund type have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read. Certain reclassifications have been made to the prior year financial data to conform with the current year presentation. Cash and Cash Equivalents: All cash and investments, except those which are held by fiscal agents, are held in a City pool. These pooled funds are available upon demand and therefore are considered cash and cash equivalents for purposes of the statement of cash flows. Investments held by fiscal agents with an original maturity of three months or less are also considered cash equivalents. Development Fees: Development fees represent amounts collected from developers for building permits to begin residential and commercial building construction. Proceeds from such fees are used to fund improvements made in the City. 18 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Non-Cash Capital Financing Activities: Related to the City's agreements with developers (See Note 9) the Development Fee Special Revenue Fund contributed fixed assets of$1,297,932 to the Enterprise Fund. This transaction has been recorded as an equity transfer from the Development Fee Special Revenue Fund and as contributed capital in the Enterprise Fund (See Note 16). 2. CASH AND INVESTMENTS Cash and investments at June 30, 1994 consisted of the following: Petty Cash $ 2,175 Pooled Deposits: Demand deposits (1,372,736) Pooled Investments 86,437,000 Cash and Investments - Deferred Compensation Plan 344,626 Cash and Investments with Fiscal Agents 2.061.181 Total Cash and Investments $87,472,246 The City follows the practice of pooling cash and investments of all funds except for funds required to be held by outside fiscal agents under the provisions of bond indentures and funds in its deferred compensation plan (See Note 7). Interest income earned on pooled cash and investments is allocated monthly to the various funds based on the cash and investment balances. Interest income from cash and investments with fiscal agents and in the deferred compensation plan is credited directly to the related fund. Authorized Investments: Under provision of the City's investment policy, and in accordance with Section 53601 of the California Government Code, the City may invest in the following types of investments: . Securities of the U.S. Government, or its agencies . Certificates of Deposit (or Time Deposits) placed with commercial banks and/or savings and loan associations . Bankers' Acceptances . Commercial Paper . Local Agency Investment Fund (State Pool) . Repurchase Agreements . Other investments that may be authorized through the State of California Government Code 19 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Pooled Deposits/Credit Risk: The California Government Code requires California banks and savings and loan associations to secure a City's deposits by pledging government securities as collateral. The market value of pledged securities must equal at least 110% of a City's deposits. California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the City's total deposits. The City may waive collateral requirements for deposits which are fully insured up to $100,000 by federal depository insurance. In accordance with GASB Statement 3, deposits are classified as to credit risk by three categories as follows: Category 1: Insured or collateralized with securities held by the City or by its agent in the City's name. Category 2: Collateralized with securities held by the pledging financial institution's trust department or agent in the City's name. Category 3: Uncollateralized. The City's deposits are summarized below: Category Carrying 1 2 3 Amount Pooled Deposits: Demand Deposit Accounts, Bank Balance $100,000 $429,822 $ 529,822 Add: Deposits in Transit 332,800 Less: Outstanding Warrants (2,235,358) Book Balance (1,372,736) Total Pooled Deposits 100,000 429,822 (1,372,736) Deferred Compensation Plan Cash 823 823 Total Deposits $100,823 $429,822 $ - $(1,371,913) 20 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Credit Risk, Carrying Amount, and Market Value of Investments: The investments that are represented by specific identifiable investment securities are classified as to credit risk by three categories as follows: Category 1: Insured or registered, or securities held by the City or its agent in the City's name. Category 2: Uninsured and unregistered with securities held by the counterparty's trust department or agent in the City's name. Category 3: Uninsured and unregistered with securities held by the counterparty, or by its trust department or agent but not in the City's name. All of the pooled investments, investments with fiscal agents and investments of the City's deferred compensation plan are not represented by specific identifiable investment securities and, therefore, are not subject to categorization. The investments are summarized below. Contractual/ Carrying Market Amount Value Pooled Investments State of California Local Agency Investment Fund $12,936,528 $12,936,528 Los Angeles County Investment Pool 7,544,622 7,544,622 San Bernardino County Investment Pool 65,955,851 65,955,851 Total Pooled Investments 86,437,001 86,437,001 Investments with Fiscal Agents Guaranteed Investment Contract 1,741,000 1,741,000 Mutual Funds 320,181 320,181 Total Investments with Fiscal Agents 2,061,181 2,061,181 Deferred Compensation Plan Mutual Funds 343,803 343,803 Total Investments $88,841,984 $88,841,984 21 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Cash and Investments - Deferred Compensation Plan: The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The City invests deferred compensation assets with Great Western Bank and Aetna Life Insurance and Annuity Company. The funds are currently invested in mutual funds. See note 7 for additional information about this plan. Cash and Investments with Fiscal Agents: The City has monies held by trustees or fiscal agents pledged to the payment or security of certain bonds and certificates of participation. The California Government Code provides that these monies, in absence of specific statutory provisions governing the issuance of bonds or certificates, may be invested in accordance with the ordinance, resolutions or indentures specifying the types of investments its trustee or fiscal agents may make. These ordinances, resolutions or indentures are generally more restrictive that the City's general investment policy. Included in the monies held by trustees or fiscal agents are deposits with various institutions for the payment of long-term debt. In no instance have additional types of investments not permitted by the City's general investment policy been authorized. 3. INTERFUND RECEIVABLES/PAYABLES Receivable Payable General Fund $ 12,479 $ 3,637 Special Revenue Funds: Lighting and Landscape District 110,181 Gas Tax 137 Solid waste 12,480 Total Special Revenue Funds 122.798 Enterprise Fund: Water Utility 114,129 Sewer Utility 173 Totals $126,608 $126,608 4. PROPERTY, PLANT AND EQUIPMENT Changes in the components of the General Fixed Assets Account Group for the year ended June 30, 1994 were as follows: 22 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Original Prior Restated Balance at Period Balance at Balance at July 1, 1993 Adjustments July 1, 1993 Additions Deletions June 30, 1994 Land $11,964,058 $11,964,058 $11,964,058 Equipment 355,105 $17,355 372,460 $422,725 $ 91,832 703,353 Vehicles 382,393 245 382,638 20,624 19,392 383,870 Buildings 2,151,487 2,151,487 2,151,487 Total $14,853,043 17600 $14,870,643 $443,349 $111,224 $15,202,768 The adjustments to arrive at the July 1, 1993 restated balance represent additions of unrecorded assets which were found during a City inventory count performed in fiscal year 1993-94. A summary of changes in the proprietary fund type property, plant and equipment at June 30, 1994 follows: Original Prior Restated Balance at Period Balance at Balance at July 1, 1993 Adjustments July 1, 1993 Additions Deletions June 30, 1994 Land $ 3,074,759 $ 3,074,759 $ 3,074,759 Easements 537,940 537,940 537,940 Utility Plant In Service 18,207,405 18,207,405 $491,607 - $69,460 18,629,552 Pipeline In Service 34,916,461 34,916,461 167,920' 35,084,381 Meters 752,114 752,114 30,048 • 782,162 Buildings and Improvements 130,236 130,236 130,236- Construction in Progress 710,541 710,541 4,192,345 520,688 4,382,198 Vehicles 1,172,792 $(171,282) 1,001,510 1,001,510 Equipment 956,363 (278,038) 678325 5,523 23308 660540 Total 60,458,611 $(449320) 60,009,291 $4,887,443 $613,456 64,283,278 Accumulated depreciation (7288,818) $103,798 (7,185,020) $(1,530,894) $48,232 (8,667,682) Net 3,169,793 $52,824,271 X55,615,596 The adjustment to arrive at the July 1, 1993 restated balance represents assets which could not be located based on the City inventory count performed in fiscal year 1993- 94. 23 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Construction in progress at June 30, 1994 includes various wells and transmission lines. 5. PROPERTY TAXES Property taxes are attached as an enforceable lien on property as of March 1. Taxes are levied on July 1 and are payable in two installments on December 10 and April 10. Any unpaid amounts at the end of the fiscal year are recorded as accounts receivable. The County of San Bernardino bills and collects the property taxes and subsequently remits the amount due to the City of Chino Hills in installments during the year. Historically, the City has received substantially all of the taxes levied within two years from the date they are levied. The County is permitted by State Law(Article XIII A of the California Constitution) to levy taxes at one percent (1%) of full market value (at time of purchase) and can increase the property's value no more than two percent (2%) per year. In accordance with an agreement with the County, the City receives 6% of the 1% levy. 6. RETIREMENT Plan Description: The San Bernardino County Employees' Retirement Association (SBCERA) is a defined benefit pension plan (the "Plan") operating under the California County Employees' Retirement Act of 1937. Although legally established as a single employer plan, the City of Chino Hills, the City of Big Bear Lake, the County Supervisors Association of California and the South Coast Air Quality Management District were later included along with the County of San Bernardino (the "County") and are collectively referred to as the "Participating Members." Substantially all employees of the Participating Members are covered by the plan. For the year ended June 30, 1994 the City of Chino Hills total base salaries for covered employees was $3,239,332. Total payroll for the year was $3,565,869. Employees become eligible for membership on their first day of regular employment and become fully vested after 5 years. General members are eligible for retirement benefits upon completion of 10 years of service and attaining age 50, or 30 years of service regardless of age. Retirement benefits are calculated at 2% of final compensation for each completed year of service based on a normal retirement age of 55 for general members. The plan also provides disability benefits to members and death benefits to beneficiaries of members. 24 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Employee and Employer Contribution Obligations: Employees are required to contribute a percentage of their annual compensation to the Plan based on the member's age at entry into the Plan. The City contributes an amount, based on actuarial assumptions, that, together with employee contributions, is intended to provide sufficient reserves for payment of all prospective benefits to members. Employer rates are as follows: Member Rates as a Category Percentage of Base Salaries General members 10.22% Safety members 23.69% Funding Status and Progress: The amount shown below as the "pension benefit obligation" is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help assess the funding status of the system on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons with other public employee retirement systems. The measure is the actuarial present value of credited projected benefits and is independent of the funding method used to determine contributions to SBCERA. The pension benefit obligation was computed as part of an actuarial valuation performed as of June 30, 1993. Significant actuarial assumptions used in the valuation include (a) a rate of return on the investment of present and future assets of 8 percent a year compounded annually, (b) projected salary increases of 5 percent a year compounded annually, attributable to inflation, (c) additional projected salary increases of 1 percent a year, attributable to merit and longevity, (d) pre-and post-retirement mortality based on the 1971 Group Annuity Mortality Table set back one year for men and seven years for women, and (e) cost of living increase of 2 percent per year. The total unfunded pension benefit obligation is not calculated separately for the City; however, the plan's total unfunded pension benefit obligation applicable to SBCERA was $149,763,000 at June 30, 1994, (based upon June 30, 1993 data) as follows (in $000's): Pension Benefit Obligation: Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits $ 588,795 25 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Current Employees: Employee contributions with interest 247,029 Employer-financed vested 472,015 Employer-financed non-vested 46,182 Total Pension Benefit Obligation 1,354,021 Net Assets Available for Benefits at Cost (Market Value is $1,048,918) 1,204.258 Unfunded Pension Benefit Obligation $ 149,763 Actuarially Determined Contribution Requirements and Contribution Made: SBCERA uses the Projected Unit Credit Normal Cost Method which is an accrued benefit method. That is, it focuses on benefits earned by employees as a result of service through the valuation date. According to this "benefit" method, the normal cost is the actuarial present value on the valuation date of the benefits credited for employee service through that date. SBCERA uses this same method for amortizing any unfunded actuarial liabilities, which ends December 31, 1995. The significant actuarial assumptions used to compute the actuarially determined contribution requirement are the same as those used to compute the pension benefit obligation, as previously described. The contribution to the system for 1994 of $611,497 was made in accordance with actuarially determined requirements computed through an actuarial valuation performed as of June 30, 1993. The City contributed employer contributions of $544,019 (16.69 percent of current base salaries); and employee contributions were $67,478 (2.04 percent of current base salaries), of which the City contributed $7,148 (.14 percent of current base salaries). Trend Information: Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due. Within the City's financial statement, ten years of historical trend information are required. 1988-89 is the first year that this actuarial information has been made available by SBCERA. Until ten years of data are available, as many years as are available are presented as follows (in $000's): 26 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 1989-90 1990-91 1991-92 1992-93 1993-94 Net Assets Available for Benefits $737,515* $794,849 $899,799 $983,894 $1,204,258 Pension Benefit Obligation ❖:738 $1,017,149 $1,155,902 $1,224,652 $1,354,021 Net Assets Available for Benefits Expressed as a Percentage of the Pension Benefit Obligation 82.6% 781% 77.8% 8034% 889% Unfunded Pension Benefit Obligation $151773 $222,300 $256,103 $240,758 $149,763 Annual Base Salaries $280,193 $344,010 $392,683 $435,575 $441,641 Unfunded Pension Benefit Obligation,Expressed as a Percentage of Annual Base Salaries 54.0% 64.6% 652% 553% 33.9% Participant Member Contributions ** $44,411 $45,890 $47,404 $51,342 Participant Member Contributions Expressed as a Percentage of Annual Base Salaries These contributions were made in accordance with actuarially determined requirements. ** 12.9% 117% 10.N% 1163% * These amounts represent market value. ** This information not available. The City's 1994 contribution represented.682 percent of total contributions required of all participating entities. Part-Time Employee Defined Contribution Plan: The City provides pension benefits for all of its part-time employees through a defined contribution plan. In a defined contribution plan, benefits depend solely on amounts contributed to the plan plus investment earnings. The plan is administered as part of the City's 457 plan. All part-time employees are eligible to participate from the date of employment. Federal legislation requires contributions of at least 7.5 percent to a retirement plan, and City Council resolved to contribute 5 percent and employees contribute the remaining 2.5 percent. The City's contributions for each employee (and interest earned by the accounts) are fully vested immediately. 27 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 For the year ended June 30, 1994, the City's payroll covered by the plan was $140,961. The City made employer contributions of$3,438 (2.44 percent of current covered payroll), and employees contributed$7,134(5.06 percent of current covered payroll). These amounts are included in the Agency Fund with the deferred compensation plan of the full-time employees. 7. DEFERRED COMPENSATION PLAN The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all full-time City employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the plan), subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in an amount equal to the fair market value of the deferred account for each participant. The City has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. Assets of the fund totaled $344,626 at June 30, 1994. 8. INSURANCE PROGRAMS The City is a member of the Southern California Joint Powers Insurance Authority (SCJPIA). See Note 12 for disclosures made in accordance with GASB Cod. Sec. J50.103. General liability insurance: Annual deposits are paid by member cities and are adjusted retrospectively to cover costs. Each member city, including Chino Hills, self-insures through the SCJPIA for the first $20,000 of each loss. However, this self-insurance retention is funded through annual premiums; therefore, the City effectively has no exposure except for specific limits as described herein. Participating cities then share in the next $20,000 to $500,000 per loss occurrence. Specific coverage includes comprehensive and general automotive liability, personal injury, contractual liability, errors and omissions and certain other coverage. Separate deposits are collected from the member cities to cover claims between $500,000 and $10,000,000. These deposits are also subject to retrospective adjustment. 28 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Workers' compensation: The workers' compensation program includes pooling of retained losses plus excess insurance. Annual deposits are paid by member cities and are adjusted retrospectively on an annual basis to cover costs and to reflect claims experience of both the individual member and the pool. The annual retrospective computation of the deposit is based on (1) the member's own losses up to its retention level plus, (2) a pro rata share of all losses from the retention level up to $100,000 plus, (3) a pro rata share of general/administrative expenses and losses between $100,000 and $500,000. Each member City has a specific self- insured retention level depending upon that member's payroll and financial capacity. The City of Chino Hills has a retention level of$50,000, and all claims up to that level are paid by the City. However, this self-insured retention is funded through annual premiums; therefore, the City effectively has no exposure except for specific limits as described herein. Benefits from $50,000 to $500,000 are covered by the pool. Excess insurance covers claims from $500,000 up to the statutory benefits schedule under California Workers' Compensation Law. In addition to this coverage,workers' compensation claims arising out of employer liability are covered up to $5,000,000 per occurrence. 9. CHANGES IN LONG-TERM DEBT Governmental Funds: The following is a summary of the changes in the General Long-Term Debt Account Group for the year ended June 30, 1994: Original Prior Restated Balance at Period Balance at Balance at July 1, 1993 Adjustments July 1, 1993 Additions Deletions June 30, 1994 Compensated Absences $ 151,130 $ 151,130 $ 36,413 $ 187,543 ✓ Advances from Developers 3,568,531 3,568,531 $ 815,150 2,753,381✓ Installment Obligation Due Enterprise Fund 2,501,584 2,501,584 2,501,584✓ Development Fee Program Obligations 27,955,299 $1,140,486 29,095,785 8,049,254 2,852978 34,292,06t-3;Y a 59,'i 7 Claims Payable 1,181,532 1,181,532 1,181,532 Loan Payable 150,000 150,000 V Capital Lease Obligations 41,960 8,684 33,276 Certificates of Participation 2,490,000 2490,000 310.000 2180,000 Totals $37,8484076 $1,140,486 $38,983,562 $8277,627 $3,986,812 $43279377 29 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 The adjustments to arrive at the July 1, 1993 restated balance was to record a liability of the Development Fee Program Obligations. Compensated Absences: The City's policies relating to compensated absences are described in Note 1 of the Notes to Financial Statements. This liability will be paid in future years from future resources. $187,543 Advances from Developers: Advances from developers included in the General Long-Term Debt Account Group represent monies owed to developers for development fees collected in advance. The City will repay these developers by allowing them to use the $2,700 credit per unit against their development fees as they obtain their building permit releases. $2,753,381 Installment Obligation due Enterprise Fund: In February 1992, City Council approved the sale of land owned by the Enterprise Fund to the General Fund for the construction of the Civic Center. Payment will be made as funds become available. $2,501,584 Development Fee Program Obligations: The City has executed many agreements with outside developers requiring developers to provide funding up front for the costs of backbone infrastructure (major thoroughfares, water and sewer mains, etc.) concurrent with the development of their residential and commercial projects. This up front funding is generally in the form of the developer constructing the backbone infrastructure. Future development fees will be used to reimburse the developers (either as credits against fees owed or cash reimbursements if not fully credited) for their up-front funding. A liability has been recorded for the project costs incurred to date, including estimated construction in progress. $34,292,061 Claims Payable The City of Chino Hills recently negotiated a settlement with Industry Urban Development Agency related to the acquisition of land and right of ways used for what is now Chino Hills Parkway. 30 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 The agreement requires payment by the City in the amount of $1,144,000, plus accrued interest on the award through June 30, 1994 of$300,532. The City has previously deposited $213,000 with the City Clerk; therefore the outstanding liability at June 30, 1994 is $1,181,532. This liability will be repaid in ten (10) equal installments of $118,153.24 payable on January 15 of each year, commencing January 15, 1995, plus interest at the rate in effect pursuant to Section 1268.350 of the Code of Civil Procedure. $1,181,532 Loan Payable The City has entered into an agreement with the San Bernardino Associated Governments to assist in financing the Ramona Avenue extension project. $150,000 Capital Lease Obligation The City has entered into lease agreements for four photocopy machines which qualify as capital leases. Future minimum payment relating to these leases are as follows: Year Ending June 30, 1995 $15,318 1996 15,318 1997 5,106 Total Minimum Lease Payments 35,742 Less amount representing interest (2,466) Present Value of Minimum Lease Payments $33,276 The gross amount of the related assets recorded in the General Fixed Assets Account Group pursuant to the capital leases at June 30, 1994 is $41,960. Chino Hills Capital Improvement Corporation - Certificates of Participation: On September 1, 1992, the Chino Hills Capital Improvement Corporation (Corporation) issued 1992 $2,490,000 Certificates of Participation in order to provide lease financing to the City of Chino Hills for (1) the acquisition and construction of public facilities, (2) a debt service reserve fund, and (3) to pay the 31 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 costs of issuing the Certificates. Pursuant to the lease agreement between the City and the Corporation, the City is required to pay the Trustee (Bank of America National Trust and Savings Association) specified lease payments for use of the facilities, which amounts are intended to be sufficient in both time and aggregate amount to pay, when due, the principal and interest with respect to the Certificates. The registered Certificates were issued in denominations of $5,000 each or any integral multiple thereof. Interest is payable semi-annually, at rates ranging from 3.7% to 6%, commencing March 1, 1993, and principal is payable annually commencing September 1, 1993 in amounts ranging from $310,000 to $410,000. The Certificates, including portions thereof, maturing on September 1, 1996, and thereafter are subject to redemption and payment prior to maturity, upon instructions from the City, on September 1, 1995 at the respective redemption prices set out below: Redemption Dates Redemption Price September 1, 1995 and March 1, 1996 102% September 1, 1996 and March 1, 1997 101% September 1, 1997 and each March 1 and September 1 thereafter 100% The debt service requirements to maturity on the Certificates of Participation are as follows: Year Ending June 30, Principal Interest Total 1995 $ 320,000 $ 95,250 $ 415,250 1996 335,000 91,463 426,463 1997 355,000 73,769 428,769 1998 370,000 54,737 424,737 1999 390,000 34,300 424,300 Thereafter 410,000 11,788 421,788 Totals $2,180,000 $361,307 $2,541,307 Proprietary Funds: The following is a summary of the changes in enterprise fund long-term debt for the year ended June 30, 1994: 32 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Original Prior Period Restated Balance at Adjustments Balance at Balance at July 1, 1993 (Note 17) July 1, 1993 Additions Deletions June 30, 1994 Due to Chino Basin Municipal Water District $5,453,386 $(5,453,386) Capital Lease Obligations $63,858 $ 63,858 $ 63,858 Installment Obligation Due Inland Empire Public Facilities Corporation 20,060,000 20,060,000 320,000 $19,740,000 Installment Obligation Due Water Facilities Authority 2,306,528 2,306,528 $2,306,528 Advances for Construction 556,926 556,926 79,962 476,964 Development Fee Program Obligations 5,908,186 5,908,186 $2,836,239 423,822 8,320,6113 Compensated Absences (Note 1) 95301 95301 Totals $34348,884 $(5,4533861 $28,895,498 $2931,540 $887,642 $30,939396 Installment Obligation Due Inland Empire Public Facilities Corporation: In May 1986, the County formed the Inland Empire Public Facilities Corporation (IEPFC), a California nonprofit public benefit corporation, to assist the County in financing, refinancing, acquiring, constructing, and improving public facilities. On June 1, 1988, IEPFC sold $20,120,000 of certificates of participation (the "1988 Certificates") to refund the $10,625,000 Water System Acquisition Project Certificates of Participation, finance the acquisition by the County of San Bernardino Public Facilities Corporation ("Facilities Corporation") of a water distribution and irrigation system ("Facilities"),finance various improvements to the District's (now the City) water system and to pay expenses relating to the issuance of the Certificates. On March 15, 1990, the City sold $21,510,000 in Certificates of Participation (the "1990 Refunding Certificates") to refund the $20,120,000 1988 Certificates. The 1990 Refunding Certificates are payable at an adjustable interest rate which will be set semiannually by a remarketing agent based on prevailing financial market conditions, after an initial rate of 6.70% through May 31, 1996. The 1990 Refunding Certificates are secured by an installment sale agreement between the City and the EIPFC. The proceeds of the 1990 Refunding Certificates were used to purchase U.S. Government Securities, which were deposited in an irrevocable 33 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 trust with an escrow agent to provide for future debt service payments on the refunded 1988 Certificates. As a result, the 1988 Certificates are considered to be defeased, and the related liability has been removed from the accompanying financial statements. The Facilities were originally acquired by the Facilities Corporation from the Pomona Valley Water Company. The Facilities were subsequently sold to the IEPFC. Simultaneously, the IEPFC and the City entered into an installment sale agreement ("Agreement") which provided for the sale of the Facilities to the District. The Agreement requires the District, and now the City, to establish rates and collect charges to provide "net revenues" equal to at least 1.10 times the sum of: (i) the aggregate annual payment requirements with respect to the Agreement; (ii) any payments required with respect to parity obligations in such year. The installment obligation repayment terms virtually coincide with the terms of the 1990 Refunding Certificates which require principal and interest payments from the City to the IEPFC through June 1, 2018. The installment obligation bears interest through May 31, 1996 at the rate of 6.70%. Thereafter, the rate will be adjusted to the prevailing market rate every six months, payable semi-annually on May 15 and November 15 of each year, 15 days before the Certificates are due. The annual requirements to repay the installment obligation as of June 30, 1994, assuming that the 6.70% interest rate stays in effect for the full term of the installment obligation, are as follows: Year Ending Total Annual June 30, Principal Interest Payments 1995 $ 345,000 $ 1,322,580 $ 1,667,580 1996 365,000 1,299,465 1,664,465 1997 395,000 1,275,010 1,670,010 1998 415,000 1,248,545 1,663,545 1999 450,000 1,220,740 1,670,740 Thereafter 17,770,000 14,228,790 31,998,790 $19,740,000 $20,595,130 $40,335,130 At redemption, the City will be required to pay a prepayment premium equal to the following amounts expressed as a percentage of the total principal amount prepaid: 34 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Dates of Prepayment Payment December 1, 1995 3.0% June 1, 1994 and December 1, 1996 2.5% June 1, 1995 and December 1, 1997 1.5% June 1, 1996 and December 1, 1998 0.5% June 1, 1997 and thereafter 0.0% Installment Obligation Due Water Facilities Authority: The City's share of the Water Facilities Authority debt (See Note 12) is 7.52415% share of the Water Facilities Authority's debt. Such debt matures as scheduled below: Maturity Type Interest Price (October 1) Amount Serial 4 to 6.70 100.00 1995 to 2000 $ 5,345,000 Term 6.75 97.25 2001 15,970,000 Term 5.50 83.00 2015 9.340,000 Total Debt 30,655,000 City's Participation % x 7.52415% City's Share of Debt $ 2,306,528 The following summarizes the future minimum installment payments due by the City: Year Ending June 30, 1995 $ 191,864 1996 192,369 1997 192,949 1998 193,564 1999 193,802 Thereafter 3,166,299 Total minimum payments 4,130,847 Less amount representing interest (1,824,319) $2,306,528 35 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Advances for Construction: In the Agreement for the acquisition of the Pomona Valley Water Company ("Pomona Valley"), the City agreed to assume responsibility for repayment of certain cash advances made to Pomona Valley by various developers and individuals under individual contracts for the construction of main extension pipeline and special facilities. The advances are to be repaid, without interest, based on a percentage of water revenues received from the main extension pipeline payable annually, and within 20 years of the origination of each individual advance with final payment on all advances by the year 2003. $476,964 Development Program Fee Obligations: The City has executed many agreements with outside developers requiring developers to provide funding up-front for the costs of backbone infrastructure (major thoroughfares, water and sewer mains, etc.) concurrent with the development of their residential and commercial projects. This "up front" funding is generally in the form of the developer constructing the backbone infrastructure. Future development fees will be used to reimburse the developers for their "up-front" funding. A liability has been recorded for the project costs incurred to date, including estimated construction in progress. $8,320,603 10. CONTINGENCIES Litigation: The City is involved in several pending lawsuits of a nature common to many similar jurisdictions. City management estimates that potential claims against the City, not covered by insurance, will not have a material adverse effect on the financial statements of the City. 11. ASSESSMENT DISTRICT AND COMMUNITY FACILITIES DISTRICT BOND ISSUES Excluded from the General Long-Term Debt Account Group are special assessment and special tax bonds related to various special assessment districts and community facilities districts included within the City. The City acts as an agent for the property owners benefitted by the projects financed from the bond proceeds in collecting the assessments and taxes, forwarding the collections to bond holders and 36 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 initiating foreclosure proceedings, if appropriate. Neither the faith and credit nor the taxing power of the City is pledged to the payment of the bonds and the City is not legally or morally obligated for payment of the bonds. Included in the Agency fund is $25,926,722 of funds due to bondholders relating to these obligations. The debt outstanding at June 30, 1994 consists of the following individual issues: 1988 $33,170,000 Assessment District No. 85-1-R, serial bonds due in annual installments of $260,000 to $2,525,000 through September 2, 2021; interest ranging from 7% to 8% $ 28,775,000 1987 $24,832,094 Assessment District No. 86-1, Series A serial bonds due in annual installments of$40,000 to $905,000 through September 2, 2007; interest ranging from 7.25% to 8.35% 4,580,000 1988 $7,422,157 Assessment District No. 86-1, Series B serial bonds due in annual installments of $135,000 to $505,000 through September 2, 2007; interest ranging from 7.00% to 8.38% 3,930,000 1988 $8,707,354 Assessment District No. 87-1, serial bonds due in annual installments of$95,000 to $550,000 through September 2, 2009; interest ranging from 7.25% to 7.70% 4,145,000 1988 $4,990,000 Community Facilities District No. 1 Special Tax bonds, Series "A", due in annual installments of$45,000 to $575,000 through September 1, 2011; interest ranging from 6.60% to 7.90% (defeased during FY 92/93) 4,805,000 1988 $4,180,000 Community Facilities District No. 1, Special Tax Bonds, Series "B", due in annual installments of$65,000 to $415,000 through September 1, 2011; interest ranging from 5.50% to 7.65% (defeased during FY 92/93) 4,035,000 1988 $5,310,000 Community Facilities District No. 2, Special Tax Bonds, Series "A", due in annual installments of$95,000 to $615,000 through September 1, 2011; interest ranging from 5.50% to 7.65% 5,190,000 37 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 1988 $2,795,000 Community Facilities District No. 4, Special Tax Bonds, Series "A", due in annual installments of$25,000 to $320,000 through September 1, 2011; interest ranging from 6.60% to 7.90% (defeased during FY 92/93) 2,690,000 1988 $2,030,000 Community Facilities District No. 5, Special Tax Bonds, Series "A", due in annual installments of$20,000 to $235,000 through September 1, 2011, interest ranging from 6.20% to 8.00% (defeased during FY 92/93) 1,950,000 1988 $2,880,000 Community Facilities District No. 8, Special Tax Bonds, Series "A", due in annual installments of$25,000 to $335,000 through September 1, 2011, interest ranging from 6.20% to 8.00% (defeased during FY 92/93) 2,780,000 1991 $5,435,000 Community Facilities District No. 9, Special Tax Bonds, Series "A", due in annual installments of$35,000 to $645,000 through September 1, 2015; interest ranging from 6.00% to 8.38% 5,420,000 1991 $17,065,000 Community Facilities District No. 9, Special Tax Bonds, Series "B", due in one installment of $17,065,000 on September 1, 1998; interest rate at 8.00% 17,065,000 1993 $9,460,000 Community Facilities District No. 1, Special Tax Refunding Bonds due in annual installments of$10,000 to $975,000 through September 1, 2011; interest ranging from 5.3% to 6.25% 9,460,000 1993 $2,880,000 Community Facilities District No. 4, Special Tax Refunding Bonds due in annual installments of $5,000 to $305,000 through September 1, 2011; interest ranging from 3.5% to 5.9% 2,880,000 1993 $2,090,000 Community Facilities District No. 5, Special Tax Refunding Bonds due in annual installments of$50,000 to $230,000 through September 1, 2011; interest ranging from 5.20% to 6.25% 2,090,000 38 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 1993 $3,095,000 Community Facilities District No. 8, Special Tax Refunding Bonds due in annual installments of$10,000 to $320,000 through September 1, 2011; interest ranging from 3.5% to 5.9% 2,980,000 $104,975,000 12. JOINT VENTURES Southern California Joint Powers Insurance Authority (SCJPIA): SCJPIA is a consortium of 75 cities and other public agencies in Southern California established under the provisions of California Government Code Section 6500, et seq.. SCJPIA provides risk coverage for its members through the pooling of risks and purchased insurance. This coverage extends to workers compensation and general and vehicle liability. SCJPIA is governed by a Board consisting of one board member appointed by each member agency. The Board elects officers which meet monthly to supervise and conduct SCJPIA affairs. SCJPIA maintains a staff headed by a Manager to implement the policies of the Board. Available audited financial information for the operations of the SCJPIA as of June 30, 1994 is presented below. Total Assets $85,996,937 Liabilities & Equity: Total Liabilities $63,266,807 Retained Earnings 22,730,130 Total Liabilities & Equity $85,996,937 Total Revenues $23,196,940 Total Expenses 18,242.833 Net Income $ 4,954,107 In the event of termination of the joint venture agreement and after all claims have been settled, any excess or deficit will be divided among the agencies in accordance with an approved formula. 39 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Water Facilities Authority: On February 19, 1980, the Water Facilities Authority (Authority)was created under a joint exercise of powers agreement between the CSA 70 Zone CH (now part of the City of Chino Hills) and other local entities. It was formed for the acquisition and construction of facilities directly benefitting the participants by supplying water to the inhabitants within the boundaries of its members. Thus, each participant has an ongoing financial interest in the Authority. The governing Board of Directors consists of one member appointed from each participating agency and has approval of all budget and finance activities. The City's investment in the Authority has been recorded on the equity method of accounting and is shown as an investment in joint venture in the Water Enterprise Fund. On October 1, 1986, the Authority issued $33,715,000 Refunding Certificates of Participation, 1986 Series A (Agua de Lejos Project), with fixed interest rates varying between 4% and 6.5%. Final maturity is due in 2015. The outstanding balance at June 30, 1994 is $30,655,000. Each participant in the joint venture has pledged gross revenues from its respective Enterprise Fund and has agreed to restrictive covenants that establish rates and charges for each respective water enterprise fund at levels sufficient to maintain net revenues equal to at least 1.25 times the aggregate amount of each respective party's installment payments to the Authority as well as any parity debt which shall become due and payable within the succeeding twelve months. Each City has an ongoing financial responsibility as each has assumed a portion of the Authority's debt. The City's percentage share is 7.52415% and, therefore, has recorded this portion, $2,306,528, in the financial statements (See Note 9). The components of the City's investment in the Authority at June 30, 1994 are summarized as follows: City contributed capital $2,925,839 Portion of Authority Debt assumed, excluding related related reserve fund of $206,262 2,100,266 Cumulative equity in earnings of the Authority 238,887 Total Investment in the Authority $5,264,992 By agreement, allocations of planned capacity and entitlement are as follows: 40 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Participant Percentage City of Chino Hills 15.7% Monte Vista Water District 24.0 City of Chino 5.9 City of Ontario 31.4 City of Upland 23.0 Total 100.0% Audited financial information of the Authority for the fiscal year ended June 30, 1994 is summarized as follows: Authority City Share Total assets $46,580,366 $10,401,396 Total liabilities $32,409,936 $7,237,139 Total fund equity $14,170,430 $3,164,257 Operating revenues $8,410,713 $1,878,112 Operating expenses (9,814,356) (2,191,546) Non-operating revenue (net) 705.600 157,560 Net Loss (698,043) (155,874) Retained earnings, beginning of year 1,767,845 394,760 Retained earnings, end of year $1,069,802 $ 238,886 Property, plant and equipment (net) $36,176,354 $8,078,180 Net working capital $3,320,167 $741,393 Capital contributions $13,100,628 $2,925,839 The participants and their audited financial contributions through June 30, 1994 were as follows: 1994 Amount Percent City of Chino Hills $ 2,925,839 22.33% Monte Vista Water District 2,222,652 16.97 City of Chino 1,819,363 13.89 41 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 1994 Amount Percent City of Ontario 3,729,582 28.47 City of Upland 2,403,192 18.34 Total $13,100,628 100.00% Financial statements of the Authority can be obtained from the City of Upland, Office of the Treasurer, P.O. Box 460, Upland, CA 91785. 13. LEASE PAYMENTS RECEIVABLE Leases include certain water improvements, facilities, capacity rights and real and related personal property to the City of Chino and the Monte Vista Water District. The lease provides that, upon satisfaction of the terms of the agreement, legal title to the facilities will transfer to the lessees. The following is a schedule of minimum lease payments receivable by years as of June 30, 1994: Year Ending June 30, 1995 $ 431,187 1996 430,577 1997 430,140 1998 429,675 1999 430,835 Thereafter 1,722,907 Minimum lease payments 3,875,321 Less unearned interest (1,314,101) Lease receivable $2,561,220 14. INSTALLMENT RECEIVABLE In February 1992, City Council approved the sale of land owned by the Enterprise Fund to the General Fund for the construction of the Civic Center. Payment will be made as funds become available. 42 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 15. CONTRIBUTED CAPITAL Contributed capital is the portion of equity derived from pipeline constructed and serviced by developers and donated to the City. Such equity also includes connection fees received from developers and customers to join new or extend existing water systems, as well as proceeds from special assessment bonds issued to finance utility plant in service. The following is a summary of the change in contributed capital: Prior Restated Balance at Period Balance at Deletions Balance at July 1, 1993 Adjustment July 1, 1993 Additions (Depreciation) June 30, 1994 $35,933,932 $(307,228) $35,624704 $2,808,887 $480,331 $37,955,260 The adjustment to arrive at the July 1, 1993 restated balance represents an increase in accumulated depreciation due to a miscalculation of the useful life on nine assets. 16. RESIDUAL EQUITY TRANSFERS Residual Residual Equity Equity Transfer In Transfer Out General Fund $ 590,399 $ - Special Revenue Funds: Development Fee 447,191 1,297,932 Capital Projects Funds: Special Construction - 447,191 Enterprise Funds: Water Utility - 830.441 Total Equity Transfers 1,037,590 2,575,564 Equity transfers recorded as contributed capital in Enterprise Funds 1,537,974 Total $2,575,564 $2,575,564 43 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 17. PRIOR PERIOD ADJUSTMENTS A. In FY 1992-93 the City received an overpayment of taxes from the County of San Bernardino and recorded a revenue of$71,625 within the General Fund. As this amount was an overpayment of taxes it should have been classified as due to other governments. B. In FY 1992-93 an encroachment permit totaling$500 was classified as revenue within the General Trust Fund but should have correctly been recorded within the General Fund. C. In FY 1993-94 the City reclassified assets of$2,109,761,liabilities of$2,071,463 and fund balance of$38,298 from the General Fund to the General Trust and Agency Fund. D. In FY 1993-94 the City reclassified certain account balances related to community services activities including assets of $44,186, liabilities of $3,800 and fund balance of $40,386 from the General Fund to the Community Services Special Revenue Fund. E. In FY 1992-93 an amount of$111,788 representing street assessments refunds was incorrectly classified to a revenue account within the Lighting and Landscape District Special Revenue Fund. F. In FY 1992-93 the City overstated interest expenditures related to developer obligations by $52,776 and in FY 1991-92 the City did not record a Special Assessment receivable of$60,373; therefore fund balance was understated by $113,149 within the Development Fee Special Revenue Fund. G. In FY 1992-93 a deposit of $18,000 was recorded in the General Fund but should have been recorded within the Gas Tax Special Revenue fund. H. In FY 1993-94 the City reclassified the Parkway Phasing Fund, with assets of $640,136, liabilities of $500,326 and fund balance of $139,810 from the Parkway Phasing Capital Projects Fund to the Parkway Phasing Debt Service Fund. I. In FY 1993-94 the City performed a physical inventory to determine an accurate balance for both inventory and fixed assets accounts. As a result, inventory and fixed assets were reduced by $183,542 in the Enterprise funds. J. Assets and liabilities of $5,453,386 pertaining to the Chino Basin Municipal Water District were transferred from the Water Enterprise Fund to the General Trust Agency Fund as of July 1, 1993. 44 CITY OF CHINO HILLS Notes to Financial Statements (Continued) June 30, 1994 Beginning fund balances, retained earnings and account balances of Agency Funds, have been restated as follows: Balance as Originally Prior Restated Reported, Period Balance, June 30, 1993 Adjustments June 30, 1993 General Fund $ 2,456,763 $(149,808) $ 2,306,955 Special Revenue Funds 21,207,585 59,747 21,267,332 Debt Service Funds 253,967 139,810 393,777 Capital Projects Funds 25,084,515 (139,810) 24,944,705 Enterprise Funds 6,737,398 (183,542) 6,553,856 Agency Funds: Assets Cash and investments 23,247,704 7,563,147 30,810,851 Liabilities Accounts payable 952,245 5,872 958,117 Deposits 2,065,591 2,065,591 Due to CBMWD 5,453,386 5,453,386 18. FUND BALANCE RESERVES AND DESIGNATIONS Fund balance reserves and designations are as follows: Special Debt Capital General Revenue Service Projects Fund Funds Fund Funds Reserved: Long-term advances receivable $1,612,600 Non-current portion of assessments receivable 844,775 Encumbrances $348,762 559,122 $696,063 Debt service $249,000 Total Reserved $348,762 $3,016,497 $249,000 $696,063 Designated: Structure replacements $ - $1,535,663 $ - $11,866,718 45 CITY OF CHINO HILLS Combining Balance Sheet All Special Revenue Funds June 30, 1994 Lighting and Landscape Development Assets District CSA Fee Cash and investments $ 14,696,446 ' $ 34,940 ' $ 3,085,073 - Accounts receivable 2,037 Interest receivable 110,604 261 47,086 Taxes receivable 684 Special assessment receivable 80,968 844,775 Advances to other funds 1,612,600 Total Assets $ 14,890,055 $ 35,885 $ 5,589,534 Liabilities and Fund Balances Liabilities: Accounts payable $ 366,084 $ 110,802 ' Salaries and benefits payable 29,925 4,806 Due to other funds 110,181 Total Liabilities 506,190 115,608 Fund Balances: Reserved: Long—term advances receivable 1,612,600 Long—term deferred special assessments receivable 844,775 Encumbrances 271,410 ' 40,811 Unreserved: Designated for structure replacement 1,535,663 Undesignated 12,576,792 $ 35,885 2,975,740 Total Fund Balances 14,383,865 35,885 5,473,926 Total Liabilities and Fund Balances $ 14,890,055 $ 35,885 $ 5,589,534 46 Air Federal Solid Community FBA Gas Tax Quality Grants Measure I Waste Services $ 1,147,855 $ 945,463 $ 124,172 $ 113,542 $ 398,894, $ 414,534 $ 122,401 278,221 8,285 6,110 911 217 2,728 2,944 30,531 $ 1,156,140 $ 951,573 $ 125,083 $ 113,759 $ 432,153 $ 695,699 $ 122,401 $ 130,156 $ 274,551, $ 220,905 $ 596,211 26,756 1,594 18,545 8,955 137 12,480 131,750 293,233 220,905 608,691 35,711 670 174,433 67,365 4,433 1,023,720 483,907 $ 125,083 $ 113,759 143,883 87,008 82,257 1,024,390 658,340 125,083 113,759 211,248 87,008 86,690 $ 1,156,140 $ 951,573 $ 125,083 $ 113,759 $ 432,153 $ 695,699 $ 122,401 (Continued) 47 CITY OF CHINO HILLS Combining Balance Sheet All Special Revenue Funds (Continued) June 30, 1994 Street Total Assets Sweeping 1994 1993 Cash and investments $ 457,368 $ 21,540,688 $ 21,601,265 Accounts receivable 280,258 Interest receivable 4,219 183,365 378,124 Taxes receivable 31,215 93,102 Special assessment receivable 5,156 930,899 891,377 Advances to other funds 1,612,600 50,000 Total Assets $ 466,743 $ 24,579,025 $ 23,013,868 Liabilities and Fund Balances Liabilities: Accounts payable $ 26,551 $ 1,752,016 $ 1,599,679 Salaries and benefits payable 63,825 45,561 Due to other funds 122,798 101,296 Total Liabilities 26,551 1,938,639 1,746,536 Fund Balances: Reserved: Long—term advances receivable 1,612,600 Long—term deferred special assessments receivable 844,775 645,238 Encumbrances 559,122 2,637,253 Unreserved: Designated for structure replacement 1,535,663 1,216,615 Undesignated 440,192 18,088,226 16,768,226 Total Fund Balances 440,192 22,640,386 21,267,332 Total Liabilities and Fund Balances $ 466,743 $ 24,579,025 $ 23,013,868 48 This Page Intentionally Left Blank 49 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances All Special Revenue Funds For the Year Ended June 30, 1994 Lighting and Landscape Development District CSA Fee Revenues: Special assessments $ 5,994,540 $ 10,315 Use of money and property 484,647 908 $ 264,059 Intergovernmental 3,942,809 Development fees 851,779 Charges for services Other 58,682 9,854 Total Revenues 6,537,869 21,077 5,058,647 Expenditures: Current: General government Public safety Public works 3,809,542 511,162 Contributions to assessment districts 2,905,540 Capital outlay 938,855 5,750,093 Debt service: Principal retirement 1,269,147 Interest and fiscal charges 167,291 Total Expenditures 4,748,397 10,603,233 Excess(Deficiency) of Revenues Over Expenditures 1,789,472 21,077 (5,544,586) Other Financing Sources (Uses): Proceeds of long—term debt 7,883,528 Operating transfers in 3,027,697 Operating transfers out (3,403,797) (1,490,188) Total Other Financing Sources(Uses) (376,100) 6,393,340 Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses 1,413,372 21,077 848,754 Fund Balances,Beginning of Year,Restated 12,970,493 14,808 5,475,913 Equity transfers in 447,191 Equity transfers out (1,297,932) Fund Balances,End of Year $ 14,383,865 $ 35,885 $ 5,473,926 50 Air Federal Solid Community FBA Gas Tax Quality Grants Measure I Waste Services $ 33,052 $ 38,313 $ 3,361 $ 1,005 $ 19,099 $ 2,944 $ 2,970 887,937 51,661 85,348 315,042 687,554 2,405,978 255,347 22,699 3,044 743,305 926,250 55,022 86,353 334,141 2,408,922 261,361 215,057 31,813 567,182 2,321,914 34,860 795,937 680,330 347,444 414,117 1,363,119 680,330 2,321,914 215,057 329,188 (436,869) 55,022 86,353 (346,189) 87,008 46,304 159,500 (150,000) 9,500 338,688 (436,869) 55,022 86,353 (346,189) 87,008 46,304 685,702 1,095,209 70,061 27,406 557,437 40,386 $ 1,024,390 $ 658,340 $ 125,083 $ 113,759 $ 211,248 $ 87,008 $ 86,690 (Continued) 51 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances All Special Revenue Funds (Continued) For the Year Ended June 30, 1994 Street Totals Sweeping 1994 1993 Revenues: Special assessments $ 261,193 $ 6,266,048 $ 6,513,323 Use of money and property 17,709 868,067 1,302,859 Intergovernmental 5,282,797 1,332,403 Development fees 1,539,333 7,250,505 Charges for services 2,661,325 54,632 Other 94,279 64,059 Total Revenues 278,902 16,711,849 16,517,781 Expenditures: Current: General government 215,057 29 Public safety 275,661 Public works 126,627 7,368,240 8,045,533 Contributions to assessment districts 2,905,540 Capital outlay 8,200,075 2,825,753 Debt service: Principal retirement 1,616,591 5,919,680 Interest and fiscal charges 167,291 283,808 Total Expenditures 126,627 20,472,794 17,350,464 Excess(Deficiency) of Revenues Over Expenditures 152,275 (3,760,945) (832,683) Other Financing Sources(Uses): Proceeds of long—term debt 8,043,028 2,592,317 Operating transfers in 3,027,697 4,347,322 Operating transfers out (42,000) (5,085,985) (6,901,685) Total Other Financing Sources(Uses) (42,000) 5,984,740 37,954 Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses 110,275 2,223,795 (794,729) Fund Balances,Beginning of Year,as Restated 329,917 21,267,332 18,078,875 Equity transfers in 447,191 3,983,186 Equity transfers out (1,297,932) Fund Balances,End of Year $ 440,192 $ 22,640,386 $ 21,267,332 52 This Page Intentionally Left Blank 53 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Special Revenue Funds For the Year Ended June 30, 1994 Lighting and Landscape District Variance Favorable Budget Actual (Unfavorable) Revenues: Special assessments $ 6,237,192 $ 5,994,540 $ (242,652) Use of money and property 343,248 484,647 141,399 Intergovernmental 102,396 (102,396) Development fees Charges for services Other 12,048 58,682 46,634 Total Revenues 6,694,884 6,537,869 (157,015) Expenditures: Current: General government Public works 15,585,913 3,809,542 11,776,371 Contributions to assessment districts Capital outlay 3,407,136 938,855 2,468,281 Debt service: Principal retirement Interest and fiscal charges Total Expenditures 18,993,049 4,748,397 14,244,652 Excess(Deficiency) of Revenues Over Expenditures (12,298,165) 1,789,472 14,087,637 Other Financing Sources (Uses): Proceeds of long—term debt Operating transfers in 3,298,593 3,027,697 (270,896) Operating transfers out (3,724,168) (3,403,797) 320,371 Total Other Financing Sources (Uses) (425,575) (376,100) 49,475 Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses (12,723,740) 1,413,372 14,137,112 Fund Balances — Beginning of Year,Restated 12,970,493 12,970,493 Equity transfers in Equity transfers out Funds Balances — End of Year $ 246,753 $ 14,383,865 $ 14,137,112 54 CSA Development Fee Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 11,196 $ 10,315 $ (881) 792 908 116 $ 261,600 $ 264,059 $ 2,459 274,992 3,942,809 3,667,817 2,974,596 851,779 (2,122,817) 9,854 9,854 463,392 (463,392) 11,988 21,077 9,089 3,974,580 5,058,647 1,084,067 4,081,696 511,162 (3,570,534) 2,339,796 2,905,540 565,744 4,254,966 5,750,093 1,495,127 2,708,900 1,269,147 (1,439,753) 8,500 167,291 158,791 13,393,858 10,603,233 (2,790,625) 11,988 21,077 9,089 (9,419,278) (5,544,586) 3,874,692 97,700 7,883,528 7,785,828 (1,490,185) (1,490,188) (3) (1,392,485) 6,393,340 7,785,825 11,988 21,077 9,089 (10,811,763) 848,754 11,660,517 14,808 14,808 5,475,913 5,475,913 447,191 447,191 (1,297,932) (1,297,932) $ 26,796 $35,885 $9,089 $ (5,335,850) $ 5,473,926 $ 10,809,776 (Continued) 55 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Special Revenue Funds (Continued) For the Year Ended June 30, 1994 FBA Variance Favorable Budget Actual (Unfavorable) Revenues: Special assessments Use of money and property $ 39,384 $ 33,052 $ (6,332) Intergovernmental Development fees 469,992 687,554 217,562 Charges for services Other 22,699 22,699 Total Revenues 509,376 743,305 233,929 Expenditures: Current: General government Public works 133,850 31,813 102,037 Contributions to assessment districts Capital outlay 1,760,281 34,860 1,725,421 Debt service: Principal retirement 246,300 347,444 (101,144) Interest and fiscal charges Total Expenditures 2,140,431 414,117 1,726,314 Excess(Deficiency) of Revenues Over Expenditures (1,631,055) 329,188 1,960,243 Other Financing Sources(Uses): Proceeds of long—term debt 159,500 159,500 Operating transfers in 151,985 (151,985) Operating transfers out (301,992) (150,000) 151,992 Total Other Financing Sources(Uses) (150,007) 9,500 159,507 Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses (1,781,062) 338,688 2,119,750 Fund Balances — Beginning of Year,Restated 685,702 685,702 Equity transfers in Equity transfers out Funds Balances — End of Year $ (1,095,360) $ 1,024,390 $ 2,119,750 56 Gas Tax Air Quality Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 36,396 $ 38,313 $ 1,917 $ 3,000 $ 3,361 $ 361 850,092 887,937 37,845 60,996 51,661 (9,335) 886,488 926,250 39,762 63,996 55,022 (8,974) 1,935,637 567,182 1,368,455 133,500 133,500 795,937 (795,937) 1,935,637 1,363,119 572,518 133,500 133,500 (1,049,149) (436,869) 612,280 (69,504) 55,022 124,526 (99,996) 99,996 (99,996) 99,996 (1,149,145) (436,869) 712,276 (69,504) 55,022 124,526 1,095,209 1,095,209 70,061 70,061 $ (53,936) $ 658,340 $ 712,276 $ 557 $ 125,083 $ 124,526 (Continued) 57 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Special Revenue Funds (Continued) For the Year Ended June 30, 1994 Federal Grants Variance Favorable Budget Actual (Unfavorable) Revenues: Special assessments Use of money and property $ 1,005 $ 1,005 Intergovernmental 85,348 85,348 Development fees Charges for services Other Total Revenues 86,353 86,353 Expenditures: Current: General government Public works Contributions to assessment districts Capital outlay Debt service: Principal retirement Interest and fiscal charges Total Expenditures Excess(Deficiency) of Revenues Over Expenditures 86,353 86,353 Other Financing Sources(Uses): Proceeds of long—term debt Operating transfers in Operating transfers out Total Other Financing Sources (Uses) Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses 86,353 86,353 Fund Balances — Beginning of Year,Restated $27,406 27,406 Equity transfers in Equity transfers out Funds Balances — End of Year $27,406 $ 113,759 $ 86,353 58 Measure I Solid Waste Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 19,296 $ 19,099 $ (197) $ 4,992 $ 2,944 $ (2,048) 420,996 315,042 (105,954) 2,482,484 2,405,978 (76,506) 440,292 334,141 (106,151) 2,487,476 2,408,922 (78,554) 2,487,500 2,321,914 165,586 948,300 680,330 267,970 948,300 680,330 267,970 2,487,500 2,321,914 165,586 (508,008) (346,189) 161,819 (24) 87,008 87,032 (49,992) 49,992 (49,992) 49,992 (558,000) (346,189) 211,811 (24) 87,008 87,032 557,437 557,437 $ (563) $ 211,248 $ 211,811 $ (24) $ 87,008 $ 87,032 (Continued) 59 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Special Revenue Funds (Continued) For the Year Ended June 30, 1994 Community Services Variance Favorable Budget Actual (Unfavorable) Revenues: Special assessments Use of money and property $ 492 $ 2,970 $ 2,478 Intergovernmental Development fees Charges for services 499,992 255,347 (244,645) Other 3,044 3,044 Total Revenues 500,484 261,361 (239,123) Expenditures: Current: General government 511,898 215,057 296,841 Public works Contributions to assessment districts Capital outlay Debt service: Principal retirement Interest and fiscal charges Total Expenditures 511,898 215,057 296,841 Excess(Deficiency) of Revenues Over Expenditures (11,414) 46,304 57,718 Other Financing Sources(Uses): Proceeds of long—term debt Operating transfers in Operating transfers out Total Other Financing Sources(Uses) Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses (11,414) 46,304 57,718 Fund Balances — Beginning of Year,Restated 40,3.86 40,386 Equity transfers in Equity transfers out Funds Balances — End of Year $ 28,972 $ 86,690 $ 57,718 60 Street Sweeping Totals Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 315,996 $ 261,193 $ (54,803) $ 6,564,384 $ 6,266,048 $ (298,336) 9,996 17,709 7,713 719,196 868,067 148,871 1,709,472 5,282,797 3,573,325 3,444,588 1,539,333 (1,905,255) 2,982,476 2,661,325 (321,151) 475,440 94,279 (381,161) 325,992 278,902 (47,090) 15,895,556 16,711,849 816,293 511,898 215,057 296,841 740,759 126,627 614,132 25,098,855 7,368,240 17,730,615 2,339,796 2,905,540 (565,744) 10,370,683 8,200,075 2,170,608 2,955,200 1,616,591 1,338,609 8,500 167,291 (158,791) 740,759 126,627 614,132 41,284,932 20,472,794 20,812,138 (414,767) 152,275 567,042 (25,389,376) (3,760,945) 21,628,431 97,700 8,043,028 7,945,328 49,452 (49,452) 3,500,030 3,027,697 (472,333) (42,000) (42,000) (5,708,333) (5,085,985) 622,348 7,452 (42,000) (49,452) (2,110,603) 5,984,740 8,095,343 (407,315) 110,275 517,590 (27,499,979) 2,223,795 29,723,774 329,917 329,917 21,267,332 21,267,332 447,191 447,191 (1,297,932) (1,297,932) $ (77,398) $ 440,192 $ 517,590 $ (6,232,647) $ 22,640,386 $ 28,873,033 61 CITY OF CHINO HILLS Combining Balance Sheet All Debt Service Funds June 30, 1994 Chino Hills Parkway Totals Assets Corporation Phasing 1994 1993 Cash and investments $ 237,263 $ 237,263 $ 633,608 Cash and investments with fiscal agents $ 252,000 252,000 253,967 Interest receivable 6,528 Total Assets $ 252,000 $ 237,263 $ 489,263 $ 894,103 Liabilities and Fund Balances Liabilities: Accounts payable $ 236,261 $ 236,261 $ 500,000 Due to other funds 326 Total Liabilities 236,261 236,261 500,326 Fund Balances: Reserved: Reserved for debt service $ 249,000 249,000 253,967 Unreserved: Undesignated 3,000 1,002 4,002 139,810 Total Fund Balances 252,000 1,002 253,002 393,777 Total Liabilities and Fund Balances $ 252,000 $ 237,263 $ 489,263 $ 894,103 62 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances All Debt Service Funds For the Year Ended June 30, 1994 Chino Hills Parkway Totals Corporation Phasing 1994 1993 Revenues: Use of money and property $ 7,073 $ 2,454 $ 9,527 $ 94,356 Contribution from developers 425,318 425,318 Total Revenues 432,391 2,454 434,845 94,356 Expenditures: Current: General government 4,308 4,308 Public works 2,700 2,700 1,390 Debt service: Principal retirement 310,000 815,150 1,125,150 689,161 Interest and fiscal charges 120,050 120,050 62,931 Total Expenditures 434,358 817,850 1,252,208 753,482 Excess(Deficiency) of Revenues Over Expenditures (1,967) (815,396) (817,363) (659,126) Other Financing Sources: Proceeds of long-term debt 252,146 Operating transfers in 676,588 676,588 324,762 Total Other Financing Sources 676,588 676,588 576,908 Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures (1,967) (138,808) (140,775) (82,218) Fund Balances,Beginning of Year,Restated 253,967 139,810 393,777 475,995 Fund Balances,End of Year $ 252,000 $ 1,002 $ 253,002 $ 393,777 63 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Debt Service Funds For the Year Ended June 30, 1994 Chino Hills Corporation Variance Favorable Budget Actual (Unfavorable) Revenues: Use of money and property $ 7,000 $ 7,073 $ 73 Contributions from developers 425,500 425,318 (182) Total Revenues 432,500 432,391 (109) Expenditures: Current: General government 4,400 4,308 92 Public works Debt service: Principal retirement 310,000 310,000 Interest and fiscal charges 120,100 120,050 50 Total Expenditures 434,500 434,358 142 Excess(Deficiency) of Revenues Over Expenditures (2,000) (1,967) 33 Other Financing Sources: Operating transfers in Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures (2,000) (1,967) 33 Fund Balances — Beginning of Year,Restated 253,967 253,967 Funds Balances —End of Year $ 251,967 $ 252,000 $ 33 64 Parkway Phasing Totals Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 26,000 $ 2,454 $ (23,546) $ 33,000 $ 9,527 $ (23,473) 425,500 425,318 (182) 26,000 2,454 (23,546) 458,500 434,845 (23,655) 4,400 4,308 92 2,700 (2,700) 2,700 (2,700) 818,900 815,150 3,750 1,128,900 1,125,150 3,750 120,100 120,050 50 818,900 817,850 1,050 1,253,400 1,252,208 1,192 (792,900) (815,396) (22,496) (794,900) (817,363) (22,463) 676,588 676,588 676,588 676,588 (792,900) (138,808) 654,092 (794,900) (140,775) 654,125 139,810 139,810 393,777 393,777 $ (653,090) $ 1,002 $ 654,092 $ (401,123) $ 253,002 $ 654,125 65 CITY OF CHINO HILLS Combining Balance Sheet All Capital Projects Funds June 30, 1994 Central Ave Special Park Assets Project Construction Development Cash and investments $ 103,766 $ 2,091,401 Cash and investments with fiscal agents Interest receivable 799 7,274 Total Assets $ 104,565 $ — $ 2,098,675 Liabilities and Fund Balances Liabilities: Accounts payable $ 151,092 Salaries and benefits payable Retentions payable 41,854 Advances from other funds 1,612,600 Total Liabilities 1,805,546 Fund Balances: Reserved for encumbrances Designated for structure replacement $ 104,565 293,129 Total Fund Balances 104,565 293,129 Total Liabilities and Fund Balances $ 104,565 $ — $ 2,098,675 1 I 66 Capital Improvement Pomona Special Assessment Districts Corporation Construction AD #85-1 AD #86-1 AD #87-1 $ 2,656,135 $ 276,622 $ 61,885 $ 393,505 20,395 2,130 476 3,029 $ — $ 2,676,530 $ 278,752 $ 62,361 $ 396,534 $ 104,127 $ 10,000 2,572,403 $ 278,752 52,361 $ 396,534 2,676,530 278,752 62,361 396,534 $ — $ 2,676,530 $ 278,752 $ 62,361 $ 396,534 (Continued) 67 CITY OF CHINO HILLS Combining Balance Sheet All Capital Projects Funds (Continued) June 30, 1994 Community Facilities Districts #1 #2 #4 #9 Rolling Los The Ricon Assets Regional Ridge Ranchos Oaks Village Cash and investments $ 2,148,737 $4,933 $ 2,436,860 $25,797 - $ 4,925,344 Cash and investments with fiscal agents Interest receivable 16,551 38 26,537 62 42,969 Total Assets $ 2,165,288 $4,971 $ 2,463,397 $ 25,859 $ 4,968,313 Liabilities and Fund Balances Liabilities: Accounts payable $ 14,463 $ 4,500 $ 693,362 Salaries and benefits payable Retentions payable 164,593 Advances from other funds Total Liabilities 14,463 4,500 857,955 Fund Balances: Reserved for encumbrances 33,654 $ 12,947 535,335 Designated for structure replacement 2,117,171 $4,971 2,458,897 12,912 3,575,023 Total Fund Balances 2,150,825 4,971 2,458,897 25,859 4,110,358 Total Liabilities and Fund Balances $ 2,165,288 $4,971 $ 2,463,397 $ 25,859 $ 4,968,313 68 Total 1994 1993 $ 15,124,985 $ 28,723,528 218 120,260 535,008 $ 15,245,245 $ 29,258,754 $ 863,417 $ 4,295,603 2,448 206,447 15,998 1,612,600 2,682,464 4,314,049 696,063 10,516,378 11,866,718 14,428,3 27 12,562,781 24,944,705 $ 15,245,245 $ 29,258,754 69 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances All Capital Projects Funds For the Year Ended June 30, 1994 Central Ave Special Park Project Construction Development Revenues: Use of money and property $ 2,565 $ 19,989 Contributions from developers Other 150,000 $ 662 2,240 Total Revenues 152,565 662 22,229 Expenditures: Current: Public works 48,000 91,821 Capital outlay 405,652 Debt service: Principal retirement Interest and fiscal charges Total Expenditures 48,000 497,473 Excess(Deficiency) of Revenues Over Expenditures 104,565 662 (475,244) Other Financing Sources (Uses): Proceeds of long—term debt Operating transfers in 313,600 Operating transfers out Total Other Financing Sources(Uses) 313,600 Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses 104,565 662 (161,644) Fund Balances,Beginning of Year, Restated 446,529 454,773 Equity transfers out (447,191) Fund Balances,End of Year $ 104,565 $ — $ 293,129 70 Capital Improvement Pomona Special Assessment Districts Corporation Construction AD #85-1 AD #86-1 AD #87-1 $ 102,272 $ 9,929 $53,475 $ 14,146 102,272 9,929 53,475 14,146 $ 218 25 61,392 25 218 25 61,392 25 (218) 102,272 9,904 (7,917) 14,121 (218) 102,272 9,904 (7,917) 14,121 218 2,574,258 268,848 70,278 382,413 $ — $ 2,676,530 $ 278,752 $ 62,361 $ 396,534 (Continued) 71 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances All Capital Projects Funds (Continued) For the Year Ended June 30, 1994 Community Facilities District #1 #2 #4 #9 Rolling Los The Ricon Regional Ridge Ranchos Oaks Village Revenues: Use of money and property $ 78,993 $ 177 $ 132,054 $58,081 $ 344,411 Contributions from developers Other 218 58,000 Total Revenues 79,211 177 132,054 58,081 402,411 Expenditures: Current: Public works 58,068 4,500 1,066,631 Capital outlay 93,147 156,226 54,901 10,154,778 Debt service: Principal retirement 1,236,387 Interest and fiscal charges Total Expenditures 151,215 1,397,113 54,901 11,221,409 Excess(Deficiency) of Revenues Over Expenditures (72,004) 177 (1,265,059) 3,180 (10,818,998) Other Financing Sources (Uses): Proceeds of long—term debt 156,226 Operating transfers in Operating transfers out Total Other Financing Sources(Uses) 156,226 Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses (72,004) 177 (1,108,833) 3,180 (10,818,998) Fund Balances,Beginning of Year, Restated 2,222,829 4,794 3,567,730 22,679 14,929,356 Equity transfers out Fund Balances,End of Year $ 2,150,825 $4,971 $ 2,458,897 $ 25,859 $ 4,110,358 72 Total 1994 1993 $ 816,092 $ 1,965,622 3,212,278 211,120 36,711 1,027,212 5,214,611 1,330,680 4,393,012 10,864,704 4,823,059 1,236,387 661,557 76,074 13,431,771 9,953,702 (12,404,559) (4,739,091) 156,226 2,198,828 313,600 3,039,040 (2,125,040) 469,826 3,112,828 (11,934,733) (1,626,263) 24,944,705 31,820,669 (447,191) (5,249,701) $ 12,562,781 $ 24,944,705 73 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Capital Projects Fund For the Year Ended June 30, 1994 Central Ave Project Variance Favorable Budget Actual (Unfavorable) Revenues: Use of money and property $ 2,565 $ 2,565 Other $ 150,000 150,000 Total Revenues 150,000 152,565 2,565 Expenditures: Current: Public works 150,000 48,000 102,000 Capital outlay Debt service: Principal retirement Total Expenditures 150,000 48,000 102,000 Excess(Deficiency) of Revenues Over Expenditures 104,565 104,565 • Other Financing Sources: Proceeds of long—term debt Operating transfers in Total Other Financing Sources Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures 104,565 104,565 Fund Balances,Beginning of Year,Restated Equity transfers out Funds Balances,End of Year $ — $ 104,565 $ 104,565 74 Special Construction Park Development Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 600 $ 19,989 $ 19,389 $ 662 $ 662 2,240 2,240 662 662 600 22,229 21,629 124,194 91,821 32,373 2,089,298 405,652 1,683,646 2,213,492 497,473 1,716,019 662 662 (2,212,892) (475,244) 1,737,648 313,600 313,600 313,600 313,600 662 662 (1,899,292) (161,644) 1,737,648 $ 446,529 446,529 454,773 454,773 (447,191) (447,191) $ 446,529 $ — $ (446,529) $ (1,444,519) $ 293,129 $ 1,737,648 (Continued) 75 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Capital Projects Fund(Continued) For the Year Ended June 30, 1994 Capital Improvement Corporation Variance Favorable Budget Actual (Unfavorable) Revenues: Use of money and property Other Total Revenues Expenditures: Current: Public works $ 300 $ 218 $ 82 Capital outlay Debt service: Principal retirement Total Expenditures 300 218 82 Excess(Deficiency) of Revenues Over Expenditures (300) (218) 82 Other Financing Sources: Proceeds of long—term debt Operating transfers in Total Other Financing Sources Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures (300) (218) 82 Fund Balances,Beginning of Year,Restated 218 218 Equity transfers out Funds Balances,End of Year $ (82) $ — $ 82 76 Pomona Construction Assessment District #85-1 Variance Variance Favorable Favorable Budget Actual CUnfavorable) Budget Actual (Unfavorable) $ 3,000 $ 102,272 $ 99,272 $ 8,400 $ 9,929 $ 1,529 3,000 102,272 99,272 8,400 9,929 1,529 168,420 168,420 163,392 25 163,367 3,499,992 3,499,992 120,000 120,000 3,668,412 3,668,412 283,392 25 (3,665,412) 102,272 3,767,684 (274,992) 9,904 284,896 (3,665,412) 102,272 3,767,684 (274,992) 9,904 284,896 2,574,258 2,574,258 268,848 268,848 $ (1,091,154) $ 2,676,530 $ 3,767,684 $ (6,144) $ 278,752 $ 284,896 (Continued) 77 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Capital Projects Fund(Continued) For the Year Ended June 30, 1994 Assessment District #86-1 Variance Favorable Budget Actual (Unfavorable) Revenues: Use of money and property $ 82,400 $ 53,475 $ (28,925) Other Total Revenues 82,400 53,475 (28,925) Expenditures: Current: Public works 2,354,645 61,392 2,293,253 Capital outlay Debt service: Principal retirement Total Expenditures 2,354,645 61,392 2,293,253 Excess(Deficiency) of Revenues Over Expenditures (2,272,245) (7,917) 2,264,328 Other Financing Sources: Proceeds of long—term debt Operating transfers in Total Other Financing Sources Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures (2,272,245) (7,917) 2,264,328 Fund Balances,Beginning of Year,Restated 70,278 70,278 Equity transfers out Funds Balances,End of Year $ (2,201,967) $62,361 $ 2,264,328 78 Assessment District #87-1 Regional C 1-D Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 14,146 $ 14,146 $ 122,600 $ 78,993 $ (43,607) 218 218 14,146 14,146 122,600 79,211 (43,389) $ 241,992 25 241,967 3,337,434 58,068 3,279,366 175,290 93,147 82,143 241,992 25 241,967 3,512,724 151,215 3,361,509 (241,992) 14,121 256,113 (3,390,124) (72,004) 3,318,120 (241,992) 14,121 256,113 (3,390,124) (72,004) 3,318,120 382,413 382,413 2,222,829 2,222,829 $ 140,421 $ 396,534 $ 256,113 $ (1,167,295) $ 2,150,825 $ 3,318,120 (Continued) 79 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual Capital Projects Fund(Continued) For the Year Ended June 30, 1994 #1 Rolling Ridge CFD Variance Favorable Budget Actual (Unfavorable) Revenues: Use of money and property $ 8,000 $ 177 $ (7,823) Other Total Revenues 8,000 177 (7,823) Expenditures: Current: Public works 208,896 208,896 Capital outlay Debt service: Principal retirement Total Expenditures ' 208,896 208,896 Excess(Deficiency) of Revenues Over Expenditures (200,896) 177 201,073 Other Financing Sources: Proceeds of long—term debt Operating transfers in Total Other Financing Sources Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures (200,896) 177 201,073 Fund Balances,Beginning of Year,Restated 4,794 4,794 Equity transfers out Funds Balances,End of Year $ (196,102) $ 4,971 $ 201,073 80 #2 Los Ranchos CFD #4 The Oaks CFD Variance Variance Favorable Favorable Budget _ Actual (Unfavorable) Budget Actual (Unfavorable) $ 78,100 $ 132,054 $ 53,954 $ 800 $58,081 $ 57,281 78,100 132,054 53,954 800 58,081 57,281 311,293 4,500 306,793 14,664 14,664 2,172,984 156,226 2,016,758 85,308 54,901 30,407 1,236,396 1,236,387 9 3,720,673 1,397,113 2,323,560 99,972 54,901 45,071 (3,642,573) (1,265,059) 2,377,514 (99,172) 3,180 102,352 156,226 156,226 156,226 156,226 (3,642,573) (1,108,833) 2,533,740 (99,172) 3,180 102,352 3,567,730 3,567,730 22,679 22,679 $ (74,843) $ 2,458,897 $ 2,533,740 $ (76,493) $ 25,859 $ 102,352 (Continued) 81 CITY OF CHINO HILLS Combining Statement of Revenues,Expenditures and Changes in Fund Balances — Budget and Actual All Capital Projects Fund(Continued) For the Year Ended June 30, 1994 #9 Ricon Village CFD Variance Favorable Budget Actual (Unfavorable) Revenues: Use of money and property $ 138,800 $ 344,411 $ 205,611 Other 58,000 58,000 Total Revenues 138,800 402,411 263,611 Expenditures: Current: Public works 1,639,146 1,066,631 572,515 Capital outlay 17,363,223 10,154,778 7,208,445 Debt service: Principal retirement Total Expenditures 19,002,369 11,221,409 7,780,960 Excess(Deficiency) of Revenues Over Expenditures (18,863,569) (10,818,998) 8,044,571 Other Financing Sources: Proceeds of long—term debt Operating transfers in Total Other Financing Sources Excess(Deficiency) of Revenues and Other Financing Sources Over Expenditures (18,863,569) (10,818,998) 8,044,571 Fund Balances,Beginning of Year,Restated 14,929,356 14,929,356 Equity transfers out Funds Balances,End of Year $ (3,934,213) $ 4,110,358 $ 8,044,571 82 Totals Variance Favorable Budget Actual (Unfavorable) $ 442,700 $ 816,092 $ 373,392 150,000 211,120 61,120 592,700 1,027,212 434,512 8,714,376 1,330,680 7,383,696 25,506,095 10,864,704 14,641,3 91 1,236,396 1,236,387 9 35,456,867 13,431,771 22,025,096 (34,864,167) (12,404,559) 22,459,608 156,226 156,226 313,600 313,600 313,600 469,826 156,226 (34,550,567) (11,934,733) 22,615,834 24,944,705 24,944,705 (447,191) (447,191) $ (9,605,862) $ 12,562,781 $ 22,168,643 83 CITY OF CHINO HILLS Combining Balance Sheet - All Enterprise Funds June 30, 1994 Totals Water Sewer (Memorandum Only) Assets Utility Utility 1994 1993 Current Assets: Cash and investments $ 7,226,686' $ 2,553,694 $ 9,780,380 $ 7,280,357 Deposit with Water Facilities 206,262 206,262 - 205,078 Receivables (net,where applicable of allowance): Accounts 942,986 284,484 1,227,470 1,127,151 Interest 43,210 18,580 61,790 176,679 Lease payments receivable-current 197,160 197,160 430,144 Due from other funds 114,129 114,129 91,734 Materials and supply inventory 195,884 1,008 196,892 202,622 Total Current Assets 8,926,317 2,857,766 11,784,083 9,513,765 Restricted Asset: Cash and investments with fiscal agents 14,020 . 14,020 12,432 Non-Current Assets: Lease payments receivable 2,364,060 2,364,060 2,311,497 Deferred issuance costs 564,255 564,255 588,097 Investment in Water Facilities Authority 5,264,992 5,264,992 5,422,712 Installment obligations receivable 2,501,584 2,501,584 2,501,584 Total Non-Current Assets 10,694,891 10,694,891 10,823,890 Property, Plant,and Equipment Land 3,062,759 12,000 - 3,074,759 3,074,759 Easement 537,940 537,940 537,940 Utility plant in service 17,879,552 750,000 18,629,552 18,207,405 Pipeline in service 26,071,674 9,012,707 35,084,381 , 34,916,461 Meters 782,162 782,162 752,114 Buildings and improvements 130,236 130,236 130,236 Vehicles 690,298 311,212 1,001,510 710,541 Equipment 513,468 147,072 - 660,540 1,001,510 Construction in progress 4,163,011 219,187 4,382,198 678,325 Total Property,Plant and Equipment 53,831,100 10,452,178 64,283,278 60,009,291 Less accumulated depreciation (5,645,537) (3,022,145) (8,667,682) (7,185,020) Net Property, Plant and Equipment 48,185,563 7,430,033 55,615,596 52,824,271 Total Assets $ 67,820,791 $ 10,287,799 $ 78,108,590 $ 73,174,358 (Continued) 84 CITY OF CHINO HILLS Combining Balance Sheet — All Enterprise Funds (Continued) June 30, 1994 Total Water Sewer (Memorandum Only) Utility Utility 1994 1993 Liabilities and Fund Equity Liabilities: Current liabilities(payables from current assets): Accounts and contracts payable $ 967,540 $ 299,694- $ 1,267,234 $ 1,304,893 Due to other funds 173 173 6,304 Salaries and benefits payable 52,207 6,858 59,065 102,185 Capital lease obligation 63,858 Installment obligation due Inland Empire Empire Public Facilities Corporation 345,000 345,000 320,000 Deposits 333,222 272,636 605,858 572,916 Accrued interest payable to Inland Empire Facilities Corporation 108,428 108,428 112,002 Total Current Liabilities (payables from current assets) 1,806,397 579,361 2,385,758 2,482,158 Non—Current Liabilities: Installment obligation due Inland Empire Public Facilities Corporation 19,395,000 19,395,000 19,740,000 Installment obligation due Water Facilities Authority 2,306,528 2,306,528 2,306,528 Developer program obligations 8,243,478 77,125 8,320,603 5,908,186 Advances for construction 476,964 476,964 556,926 Employee compensated absences 83,084 12,217 95,301 Total Long—Term Liabilities 30,505,054 89,342 30,594,396 28,511,640 Total Liabilities 32,311,451 668,703 32,980,154 30,993,798 Fund Equity: Contributed capital 28,529,574 - 9,425,686 37,955,260 35,626,704 Retained earnings 6,979,766 193,410 7,173,176 6,553,856 Total Fund Equity 35,509,340 9,619,096 45,128,436 42,180,560 Total Liabilities and Fund Equity $ 67,820,791 $ 10,287,799 $ 78,108,590 $ 73,174,358 85 CITY OF CHINO HILLS Combining Statement of Revenues,Expenses and Changes in Retained Earnings - All Enterprise Funds For the Year Ended June 30, 1994 Totals Water Sewer (Memorandum Only) Utility Utility 1994 1993 Operating Revenues: Water sales $ 6,978,561 $ 6,978,561 $ 6,605,534 Sanitation services $ 3,270,779 3,270,779 2,552,635 Permit and inspection fees 138,397 138,397 101,816 Meter and installation fees 137,642 137,642 157,391 Developer fees 422,166 422,166 Other 275,735 275,735 257,985 Total Operating Revenues 7,952,501 3,270,779 11,223,280 9,675,361 Operating Expenses: Purchased water 2,772,030 2,772,030 2,272,361 Salaries and benefits 971,656 153,540 1,125,196 1,053,460 Utilities 709,318 10,019 719,337 521,358 Professional services 221,198 1,466,816 1,688,014 2,339,204 Depreciation and amortization 1,244,244 280,154 1,524,398 1,872,721 Repairs and maintenance 183,748 17,394 201,142 248,167 Services and supplies 110,486 9,465 119,951 78,652 Other general and administrative 22,602 2,718 25,320 57,105 Total Operating Expenses 6,235,282 1,940,106 8,175,388 8,443,028 Operating Income 1,717,219 1,330,673 3,047,892 1,232,333 Non-Operating Revenues(Expenses): Loss on investment in Water Facilities Authority (203,561) (203,561) (394,045) Interest earnings 202,696 66,098 268,794 721,269 Grant revenue 43,223 43,223 Loss on disposal of fixed assets (57,590) (57,590) Interest expense (1,511,975) (1,511,975) (769,851) Net Non-Operating Revenues(Expenses) (1,527,207) 66,098 (1,461,109) (442,627) Net Income Before Operating Transfers 190,012 1,396,771 1,586,783 789,706 Operating transfers in 265,035 Operating transfers out (489,853) (127,500) (617,353) (989,368) Net Income(Loss) (299,841) 1,269,271 969,430 65,373 Add back depreciation expense on contributed assets 252,381 227,950 480,331 376,607 Retained Earnings,Beginning of Year,Restated 7,857,667 (1,303,811) 6,553,856 6,111,876 Residual equity transfers out (830,441) (830,441) Retained Earnings,End of Year,Restated $ 6,979,766 $ 193,410 $ 7,173,176 $ 6,553,856 86 This Page Intentionally Left Blank 87 CITY OF CHINO HILSS Combining Statement of Cash Flows All Enterprise Funds For the Year Ended June 30, 1994 Water Sewer Utility Utility Cash Flows from Operating Activities: Operating income $ 1,717,219 $ 1,330,673 Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation and amortization 1,244,244 280,154 Changes in operating assets and liabilities: (Increase)decrease in accounts receivable (261,216) 160,897 (Increase)in due from other funds (22,395) (Increase)decrease in materials and supplies inventory 5,028 702 Increase(decrease)in accounts and construction contracts payable 9,150 (45,351) Increase(decrease)in salary and benefits payable (26,323) (16,738) Increase in customer deposits 18,118 14,824 Increase(decrease)in due to other funds (6,062) (69) Net Cash Provided by Operating Activities 2,677,763 1,725,092 Cash Flows from Noncapital Financing Activities: Operating grants 43,223 Operating transfers out (489,853) (127,500) Equity transfers in(out) (830,441) 240,042 Net Cash Used for Non—Capital Financing Activities (1,277,071) 112,542 Cash Flows from Capital and Related Financing Activities: Loan from Chino Basin Municipal Water District Payment to Water Facilities Authority (155,179) Repayment of advances for construction (82,962) Repayment of inspection deposits Payment of developer program obligations Contributed capital received 1,244,021 106,160 Principal paid on installment obligation (320,000) Interest paid on installment obligation (1,515,549) Payments on capital lease obligations (63,858) Purchases of property, plant and equipment (522,495) 10,561 Lease payments received 404,723 Net Cash Provided by(Used for) Capital and Related Financing Activities (1,011,299) 116,721 Cash Flows from Investing Activities: Interest received 102,374 55,489 Increase in cash and cash equivalents 491,767 2,009,844 Cash and Cash Equivalents,Beginning of Year,Restated 6,748,939 543,850 Cash and Cash Equivalents,End of Year $ 7,240,706 $ 2,553,694 88 Total 1994 1993 $ 3,047,892 $ 1,232,333 1,524,398 1,872,721 (100,319) (238,575) (22,395) (48,612) 5,730 (9,209) (36,201) 438,126 (43,061) 53,236 32,942 32,200 (6,131) 6,304 4,402,855 3,338,524 43,223 (617,353) (724,333) (590,399) (1,164,529) (724,333) 1,134,861 (155,179) (82,962) (140,539) (1,057,348) (981,699) 1,350,181 1,153,465 (320,000) (300,000) (1,515,549) (796,728) (63,858) (59,165) (511,934) (888,571) 404,723 165,540 (894,578) (1,770,184) 157,863 602,485 2,501,611 1,446,492 7,292,789 5,846,297 $ 9,794,400 $ 7,292,789 89 CITY OF CHINO HILLS Combining Balance Sheet All Agency Funds June 30, 1994 Special Assessment Districts Assets AD# 85-1 AD# 86-1 AD# 87-1 Cash and investments $ 7,874,750✓ $ 6,079,813 $ 1,248,776 Cash and investments with fiscal agents Accounts receivable Interest receivable 57,338 , 45,386 9,021 Special assessments receivable 82,021 8,697 - 750 Total Assets $ 8,014,109 $ 6,133,896 $ 1,258,547 Liabilities Accounts payable $ 581 . Deposits Due to Chino Basin Municipal Water District Due to other funds Deferred compensation payable Funds held for others 8,013,528 $ 6,133,896 $ 1,258,547 fr Total Liabilities $ 8,014,109 $ 6,133,896 $ 1,258,547 90 Community Facilities Districts #5 #1 #2 Canyon #6 Rolling Los #4 Ricon and Carbon #8 Regional Ridge Ranchos The Oaks Woodview Canyon Butterfield $ 38,844 $ 702,979 ' $ 1,397,854 $ 1,166,456 $ 929,412 ' $37,327 $ 1,462,794 975,447 296,948 215,505 307,261 301 4,309 9,641 9,462 6,552 258 10,680 14,538 12,290 10,240 ' 2,926 6,855 $39,145 $ 1,697,273 $ 1,419,785 $ 1,483,106 $ 1,154,395 $37,585 $ 1,787,590 $ 15 39,130 $ 1,697,273 $ 1,419,785 $ 1,483,106 $ 1,154,395 $37,585 $ 1,787,590 $ 39,145 $ 1,697,273 $ 1,419,785 $ 1,483,106 $ 1,154,395 $37,585 $ 1,787,590 (Continued) 91 CITY OF CHINO HILLS Combining Balance Sheet All Agency Funds (Continued) June 30, 1994 #9 General Ricon Deferred 1915 Act Trust Assets Village Compensation Bonds Fund Cash and investments $ 2,811,123 ' $ 75,400 $ 9,890,917 Cash and investments with fiscal agents $ 344,626 Accounts receivable 27,727 Interest receivable 17,463 580 Special assessments receivable Total Assets $ 2,828;586 $ 344,626 $ 75,980 $ 9,918,644 Liabilities Accounts payable $ 2,679 $ 260,103 Deposits 2,270,541, Due to Chino Basin Municipal Water District 7,388,000 Due to other funds Deferred compensation payable $ 344,626 Funds held for others 2,825,907 $75,980 Total Liabilities $ 2,828,586 $ 344,626 $75,980 $ 9,918,644 • 92 Total 1994 1993 $ 33,716,445 $ 30,810,851 2,139,787 1,986,785 27,727 170,991 450,983 138,317 242,184 $ 36,193,267 $ 33,490,803 $ 263,378 $ 958,117 2,270,541 2,065,591 7,388,000 5,453,386 14,484 344,626 4,282 25,926,722 24,994,943 $ 36,193,267 $ 33,490,803 93 CITY OF CHINO HILLS Combining Statement of Changes in Assets and Liabilities All Agency Funds For the Year Ended June 30, 1994 Balance Balance July 1, June 30, 1993 Additions Deletions 1994 CHINO UNIFIED SCHOOL DISTRICT Assets: Cash and investments $ 217,832 $ 1,057,810 $ 1,275,642 Interest receivable 2,043 2,043 Total Assets $ 219,875 $ 1,057,810 $ 1,277,685 $ — Liabilities: Accounts payable $ 212,996 $ 212,996 Due to other funds 73 73 Funds held for others 6,806 $ 1,057,810 1,064,616 Total Liabilities $ 219,875 $ 1,057,810 $ 1,277,685 $ — SPECIAL ASSESSMENT DISTRICT#85-1 Assets: Cash and investments $ 7,128,935 $ 3,402,264 $ 2,656,449 $ 7,874,750 Interest receivable 127,171 69,833 57,338 Special assessments receivable 82,021 82,021 Total Assets $ 7,256,106 $ 3,484,285 $ 2,726,282 $ 8,014,109 Liabilities: Accounts payable $ 49,077 $ 48,496 $ 581 Due to other funds 4,016 4,016 Funds held for others 7,203,013 $ 3,484,285 2,673,770 8,013,528 Total Liabilities $ 7,256,106 $ 3,484,285 $ 2,726,282 $ 8,014,109 SPECIAL ASSESSMENT DISTRICT#86-1 Assets: Cash and investments $ 6,310,875 $ 2,576,873 $ 2,807,935 $ 6,079,813 Interest receivable 125,849 80,463 45,386 Special assessments receivable 133,850 125,153 8,697 Total Assets $ 6,570,574 $ 2,576,873 $ 3,013,551 $ 6,133,896 (Continued) 94 CITY OF CHINO HILLS Combining Statement of Changes in Assets and Liabilities All Agency Funds (Continued) For the Year Ended June 30, 1994 Balance Balance July 1, June 30, 1993 Additions Deletions 1994 Liabilities: Accounts payable $ 601,872 $ 601,872 Due to other funds 3,971 3,971 Funds held for others 5,964,731 $ 2,576,873 2,407,708 $ 6,133,896 Total Liabilities $ 6,570,574 $ 2,576,873 $ 3,013,551 $ 6,133,896 SPECIAL ASSESSMENT DISTRICT#87-1 Assets: Cash and investments $ 1,212,629 $ 1,360,864 $ 1,324,717 $ 1,248,776 Interest receivable 21,760 12,739 9,021 Special assessments receivable 67,036 66,286 750 Total Assets $ 1,301,425 $ 1,360,864 $ 1,403,742 $ 1,258,547 Liabilities: Accounts payable $ 8,633 $ 8,633 Due to other funds 678 678 Funds held for others 1,292,114 $ 1,360,864 1,394,431 $ 1,258,547 Total Liabilities $ 1,301,425 $ 1,360,864 $ 1,403,742 $ 1,258,547 REGIONAL COMMUNITY FACILITIES DISTRICT Assets: Cash and investments $ 28,582 $ 1,621,493 $ 1,611,231 $ 38,844 Interest receivable 818 517 301 Total Assets $ 29,400 $ 1,621,493 $ 1,611,748 $ 39,145 Liabilities: Accounts payable $ 659 $ 644 $ 15 Due to other funds 8 8 Funds held for others 28,733 $ 1,621,493 1,611,096 39,130 Total Liabilities $ 29,400 $ 1,621,493 $ 1,611,748 $ 39,145 (Continued) 95 CITY OF CHINO HILLS Combining Statement of Changes in Assets and Liabilities All Agency Funds (Continued) For the Year Ended June 30, 1994 Balance Balance July 1, June 30, 1993 Additions Deletions 1994 COMMUNITY FACILITIES DISTRICT#1 Rolling Ridge Assets: Cash and investments $ 1,362,510 $ 1,023,872 $ 1,683,403 $ 702,979 Cash and investments with fiscal agents 1,092,868 117,421 975,447 Interest receivable 32,276 27,967 4,309 Special assessments receivable 13,886 $ 652 14,538 Total Assets $ 2,501,540 $ 1,024,524 $ 1,828,791 $ 1,697,273 Liabilities: Accounts payable $ 15,497 $ 15,497 Due to other funds 1,050 1,050 Funds held for others 2,484,993 $ 1,024,524 1,812,244 $ 1,697,273 Total Liabilities $ 2,501,540 $ 1,024,524 $ 1,828,791 $ 1,697,273 COMMUNITY FACILITIES DISTRICT#2 Los Ranchos Assets: Cash and investments $ 996,068 $ 1,065,251 $ 663,465 $ 1,397,854 Interest receivable 17,742 8,101 9,641 Special assessments receivable 8,949 3,341 12,290 Total Assets $ 1,022,759 $ 1,068,592 $ 671,566 $ 1,419,785 Liabilities: Accounts payable $ 8,290 $ 8,290 Due to other funds 547 547 Funds held for others 1,013,922 $ 1,068,592 662,729 $ 1,419,785 Total Liabilities $ 1,022,759 $ 1,068,592 $ 671,566 $ 1,419,785 COMMUNITY FACILITIES DISTRICT#4 The Oaks Assets: Cash and investments $ 1,249,424 $ 792,390 $ 875,358 $ 1,166,456 Cash and investments with fiscal agents 320,749 23,801 296,948 Interest receivable 32,737 23,275 9,462 Special assessments receivable 9,885 355 10,240 Total Assets $ 1,612,795 $ 792,745 $ 922,434 $ 1,483,106 (Continued) 96 CITY OF CHINO HILLS Combining Statement of Changes in Assets and Liabilities All Agency Funds (Continued) For the Year Ended June 30, 1994 Balance Balance July 1, June 30, 1993 Additions Deletions 1994 Liabilities: Accounts payable $ 14,292 $ 14,292 Due to other funds 922 922 Funds held for others 1,597,581 $ 792,745 907,220 $ 1,483,106 Total Liabilities $ 1,612,795 $ 792,745 $ 922,434 $ 1,483,106 COMMUNITY FACILITIES DISTRICT#5 Canyon Ricon and Woodview Assets: Cash and investments $ 677,200 $ 563,044 $ 310,832 $ 929,412 Cash and investments with fiscal agents 233,058 17,553 215,505 Interest receivable 16,545 9,993 6,552 Special assessments receivable 1,255 1,671 2,926 Total Assets $ 928,058 $ 564,715 $ 338,378 $ 1,154,395 Liabilities: Accounts payable $ 7,568 $ 7,568 Due to other funds 456 456 Funds held for others 920,034 $ 564,715 330,354 $ 1,154,395 Total Liabilities $ 928,058 $ 564,715 $ 338,378 $ 1,154,395 COMMUNITY FACILITIES DISTRICT#6 Carbon Canyon Assets: Cash and investments $ 13,972 $ 25,087 $ 1,732 $ 37,327 Interest receivable 306 48 258 Special assessments receivable 179 179 Total Assets $ 14,457 $ 25,087 $ 1,959 $ 37,585 Liabilities: Accounts payable $ 152 $ 152 Due to other funds 7 7 Funds held for others 14,298 $ 25,087 1,800 $ 37,585 Total Liabilities $ 14,457 $ 25,087 $ 1,959 $ 37,585 (Continued) 97 CITY OF CHINO HILLS Combining Statement of Changes in Assets and Liabilities All Agency Funds (Continued) For the Year Ended June 30, 1994 Balance Balance July 1, June 30, 1993 Additions Deletions 1994 COMMUNITY FACILITIES DISTRICT#8 Assets: Cash and investments $ 1,153,408 $ 665,968 $ 356,582 $ 1,462,794 Cash and investments with fiscal agents 335,828 28,567 307,261 Interest receivable 21,628 10,948 10,680 Special assessments receivable 7,144 289 6,855 Total Assets $ 1,518,008 $ 665,968 $ 396,386 $ 1,787,590 Liabilities: Accounts payable $ 7,730 $ 7,730 Due to other funds 737 737 Funds held for others 1,509,541 $ 665,968 387,919 $ 1,787,590 Total Liabilities $ 1,518,008 $ 665,968 $ 396,386 $ 1,787,590 COMMUNITY FACILI HES DISTRICT#9 Ricon Village Assets: Cash and investments $ 2,823,660 $ 1,809,175 $ 1,821,712 $ 2,811,123 Interest receivable 51,269 33,806 17,463 Total Assets $ 2,874,929 $ 1,809,175 $ 1,855,518 $ 2,828,586 Liabilities: Accounts payable $ 25,479 $ 22,800 $ 2,679 Due to other funds 1,477 1,477 Funds held for others 2,847,973 $ 1,809,175 1,831,241 2,825,907 Total Liabilities $ 2,874,929 $ 1,809,175 $ 1,855,518 $ 2,828,586 DEFERRED COMPENSATION Assets: Cash and investments with fiscal agents $ 4,282 $ 340,344 $ - $ 344,626 Liabilities: Deferred compensation payable $ 4,282 $ 340,344 $ - $ 344,626 (Continued) 98 CITY OF CHINO HILLS Combining Statement of Changes in Assets and Liabilities All Agency Funds (Continued) For the Year Ended June 30, 1994 Balance Balance July 1, June 30, 1993 Additions Deletions 1994 1915 ACT BONDS Assets: Cash and investments $ 72,609 $ 2,791 $ 75,400 Interest receivable 839 $ 259 580 Total Assets $ 73,448 $ 2,791 $ 259 $ 75,980 Liabilities: Due to other funds $ 42 $ 42 Funds held for others 73,406 $ 2,791 217 $ 75,980 Total Liabilities $ 73,448 $ 2,791 $ 259 $ 75,980 GENERAL TRUST FUND Assets: Cash and investments $ 7,563,147 $ 2,366,069 $ 38,299 $ 9,890,917 Accounts receivable 27,727 27,727 Total Assets $ 7,563,147 $ 2,393,796 $ 38,299 $ 9,918,644 Liabilities: Accounts payable $ 5,872 $ 254,231 $ 260,103 Deposits 2,103,890 204,950 $ 38,299 2,270,541 Due to CBMWD 5,453,385 1,934,615 7,388,000 Total Liabilities $ 7,563,147 $ 2,393,796 $ 38,299 $ 9,918,644 TOTAL ALL AGENCY FUNDS Assets: Cash and investments $ 30,810,851 $ 18,332,951 $ 15,427,357 $ 33,716,445 Cash and investments with fiscal agents 1,986,785 340,344 187,342 2,139,787 Accounts receivable 27,727 27,727 Interest receivable 450,983 279,992 170,991 Special assessment receivable 242,184 88,040 191,907 138,317 Total Assets $ 33,490,803 $ 18,789,062 $ 16,086,598 $ 36,193,267 (Continued) 99 CITY OF CHINO HILLS Combining Statement of Changes in Assets and Liabilities All Agency Funds (Continued) For the Year Ended June 30, 1994 Balance Balance July 1, June 30, 1993 Additions Deletions 1994 Liabilities: Accounts payable $ 958,117 $ 254,231 $ 948,970 $ 263,378 Deposits 2,103,890 204,950 38,299 2,270,541 Due to other funds 13,984 13,984 Due from CBMWD 5,453,385 1,934,615 7,388,000 Deferred compensation payable 4,282 340,344 344,626 Funds held for others 24,957,145 16,054,922 15,085,345 25,926,722 Total Liabilities $ 33,490,803 $ 18,789,062 $ 16,086,598 $ 36,193,267 100 CITY OF CHINO HILLS Schedule of General Long—Term Debt June 30, 1994 Amounts Available and to be Provided for Retirement of Long—Term Debt: Amount available in debt service funds $ 253,002 Amount to be provided 43,026,375 Total Available and to be Provided for Retirement of Long—Term Debt $ 43,279,377 General Long—Term Debt Payable: Compensated absences $ 187,543 Advances from developers 2,753,381 Installment obligation due to Enterprise Fund 2,501,584 Claims payable 1,181,532 Loan payable 150,000 Development fee program obligation 34,292,061 Capital lease obligation 33,276 Certificates of Participation 2,180,000 Total General Long—Term Debt Payable $ 43,279,377 101