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CITY OF HUNTINGTON BEACH
June 30, 1971
CONTENTS
Page
Number
Accountat.ts' Report 1 - 2
Balance Sheet - All Funds 3
Statement of Changes in Fund Balances - All Funds 4
General Fund:
• Statement of Revenue - Estimated and Actual 5 - 7
Statement of Expenditures and Encumbrances -
Coupared with Appropriations 8
Special Revenue Fuudb:
Balance Sheet 9
Statement of Changes in Fund balance 10
Statement of Revenue - Estimated and Actual 11
Statement of Expenditures and Encumbrances -
Compared with Appropriations 12
Capital Outlay Funds:
Balance Sheet 13
Statement of Changes in Fund Balance 14
Statement of Revenue - Estimated and Actual 15
Statement of Expenditures and Encumbrances -
Compared with Appropriations 16
Water Utility Fund:
Balance Sheet 17
Statement of Changes in Fund Balance and
Reserve for Revenue Bond Retirement IS
Statement of Income 19
Statement of Operating Expenses 20 - 21
Debt Service Funds:
; t Balance Sheet 22
Statement of Changes in Fund Balance ;'2
l Statement of Revenue - Estimated and Actual 2:1
Statement of Expenditures Compared with Appropriations 23
Special Assessment at.4 Trust Funds:
Balance Sheet 24
Statement of Changes in Fund Balance 24
Notes to Financial Statements 25 - 26
Supplementary Information 27 - 29
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MEHL. F_VANS AND COMPANY
L Lt15 C.pIL HL,C.P.A.(19=5•IGStl) CERTIFIED PUBLIC ACCOUNTANTS OTHER Orr1C94 AT:
BRTN 0.LV'N5.C.P.A. 1010 NORTH BUSH STREET
70S [ASf MAIN STRLCT
WIN O.PCTELS.C.P.A. SANTA ANA,CALIFORNIA 92706 SANTA MARIA,CALIFORNIA I
OONALO H.PETERSON.C.P.A. KIM109:11lTZ-4453 WALMui5.2379
DONALO C.CALLANAN,C.P.A.
L.PETLR SCHERER.C.P.A. 675 MONTH H SYRCCT
WARr- M.OALLACMLR,C.P.A. September 16 1971
JOHN A.RAAOLRG.C.P.A. p ! 4DNPOG,GI.IFORNlA
RAYMOND V rRAZICR.C PA. RCOLNT 6-61!132
4
ACCOUNTANTS' REPORT
City Council
City of Huntington Beach
Huntington Beach, California
We have examined the balance sheets of the various funds of the City
of Huntington Beach as of June 30, 1971 and the related statements of chang2s
in fund balances, revenue, incone and expenditures and encumbrances for the
year then ended. Our examination was made in accordance with generally accepted
auditing standards, and accordingly included such tests of the accounting
records and such other auditing procedures as we considered necessary in the
circumstances, except that, as described in Note 1 to the financial statements,
a substantial portion of the cost of utility plant in service is based on esti-
mates wade by city personnel, and it was not within the scope of our examina-
tion to verify that portion of the cost.
The general fixed assets of the City are not included in the accom-
ponying financial statements.
Because of the aforementioned limitation in the scope of our examin-
ation with respect to the cost of the water plant in service, we do not express
an opinion on the financial position of the Water Utility Fund at June 30, 1971
and the results of their operations for the year then ended. As a result of
our examination, however, it is our opinion that the statements present fairly
the Peseta and liabilities (except the cost of utility plant in service) of
the Water Utility Funds at June 30, 1971, and their revenues and expenses
(except depreci--zion expense) for the year then ended, all in conformity with
generally accepted accounting principles applied on a basis consistent with
that of Lhe preceding year.
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In our opinion, the accompanying statements present fairly the financial
position of all other funds of the City at June 30, 1971, and the results of
their transactions for the year then ended, in conformity with generally accepted
accounting principles applied on a basis consistent With that of the preceding
year.
Because of the omission of general fixed assets as noted above, it is
our opinion that the accompanying financial statements do not present the over-
all financial position of the City at June 30, 1971.
Our examination also included an examination of the supplementary
information presented on Pages 27 to 29 inclusive Which, in our opinion, when
considered in relation to the basic financial statements, presents fairly in
all material respects the information shown therein.
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jam-30
i Special
Special capital Water D►sbt A4eee8e140t
General Revenue Outlay wli: g Service and Trust Agency General .
Fund Fends funds feuds m� Runde _ Fund Bonied Debt
ASSETS
Treasurer's cast and short term iuvestaents $ 1,663,377- $ 4,199,447 $ 3,277,458 1,408,216 71,022 112,531 82,019 $ -
Cash and iuvestmente with fiscal agent - - - - 4,500 - - -
Petty cash 3,•000 •'50 - - -
Accounts receivable .. :. 18,524 18,402 16,916 169,026 - - -68,904
Less estimated•tmwIlectIble•accounts T - - (20,000)' - .. .. -
Azcruwd interest receivable 6,551 16,115 20,91O 11,513 279 - 338 -
impounded property taxes receivable 332;254 . - - - - - - -
Interfund loan receivable - 150,430 -
Due from Water Fund for 1955 Bond Internet and Redemption 365,9i1 - - - - - - -
Due from other funds 39,654 2" 839 7,274 3,160 - -
Due from other agencies 14,718 545 - - - -
Deposits - - 32,269 -
Restricted assets - Water Utility Funds:
cash - 99,267 - -
Investments, at cost - - - 233,714 - - - -
Utility plant in service, net (Note 1) - - - 14,061,994 -
Amount to be provided for Bond Redemption - - .. - - -
6 240 t)OO
TOTAL ASSETS
LIABILITIES, RESERVES AND FWD BALANCES
560,113
Accounts payable 142 I3O ..
$ , $ 29,738 R 162,214 $ $ 606 $ 74,674 -
Accrued payroll 331,281 49,367 - -
; •; Reimburaeuent contracts payable (Note 3) - 251,749 - 25,301 - - - -
Matured interest payable - - - 6,940 4,500 - - -
Accrued bond interest, 1963 hater bonds - - - 20,583 '- -
Refundable acreage fees - 11,346 - - - - - -
' Miacelleneous deposits 2,384 5,432 - 249 - 77,711O 60 -
`. Due to other funds - 210,348 7,274 450,551 - -
-
Due to other municipalities - - 76,577
* Due to assersment district bondholders - - - - -
Interfund loans able 6'� - -
�.• t�Y' - 133,000 - - - i7,43O
Prepaid licannes and oil permits 63,841 - - - - - - -
Advance frost municipality - general obligation bond - - 35O*O00 -
General banded debt (Note 2) .. _ - - - - - 6,240,0 {
Revenue bonds payable - - - 3,450,000 -
Reserve for encumbrances 130,497 156.874 16,054 - - - - -
Reserve for estimated uncolleetible accounts - - 7,000 _
Reserve for Impounded F span property taxes receivable •332,254 - - - - - - -
Reserve fair amounts due frost other funds 405,625 - - - - -
Reserve for Z*1aa Drainage - 13,464 - - - - -
Reserve for rave=ze bond ratireasnt - - - -234,Ir59 - - - -
Contributions in aid of construction (Note 1) - e per,:pO6
Fund balance " �!
' 608 984 654 Q98 3 2'62 393' - 4414339h,336• 71 301 . 14 331-
TOTAL LIABILITIES, RESERVES AHD FUN WJMCES �- LamA
Sao accompanying accountants' report sad notes to ,finaneial.stateaents
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.. S7.Ai.OL`78i�• OF � •i�Q I•M _"U'
For the year arced Jsae 30, 19171 . {
- Spatial
Special: Capital listsr Debt Asessssxmt
0ea.ere1 Rovullmlis Utility,, 341t ice A" Trust
Fvd Fiinde r�is *.A..a� raids Filwaft
BALANCE, JULY 1, 1970 1,652,061 2,753 $.6,264,3 2,328, 9,Iff Itr
ADD;
Revenues 8,694,493 3,971,226 1,28b,360 - 46,119 -
Net income from grater utility - - - 542,927 - -
Trsi+afar from vater utility for bood principal and interest 44,625 - - - -
Transfers from other funds 556,198 le?,281 4F7,�9 - - -
Reserve for encumbrance*, June 30, 1.970 462,592•' 102,891' 14Yl .• ,. -
Reserve for impounded property taxes receivable, June 30, 1970 277,667 - - • -
Reserve for amounts due from other funds, June 30, 1970 522,369 - - - - -
Decrease in reserve for refuse collection - - 29,379 - - -
• Transfer civic center expenditures to Csvic Improvement Fund 247,996 - - - - -
Net adjustment of prior year's revenues and expenditures 21,201 - • - - -
110M BALANCE AND ADDITIONS 12,479,102 6,,914,913 7,694,942 21971,277 116,04S 11,295
DEDUCT:
Expenditures, current year 10,601,666 2,457,402 4,131,180 - 44,745 964
Expenditures chargeable against prior year encumbrancer 344,018 $8,341: 95,035 -
Transfers to other funds 47,059 556,198. 1871,291 ..
Reserve for enevobrances, June 30, 1971 139,E+97 158,574 16,054 -
Reserve for impounded property taxes receivable, June 30, 1971 332,254 - • - - -
Reserve for amounts due from other funds, June 30, 1971 405,624 - - - - -
Reserve for estimated uucollectible accounts receivable, June 30, 1971 - - 7,000 • -
Reimbursement for off-site construction - - - 21,921 - -
Prior year uncollectible secoil - - - ,16� � -
TOTAL DEDUCTIONS 11,870,119 3,260. . 4,436 SSq: . . 37,921
FUND BALANCE, JUKE 30, 1971
See accompanying accountants' report and notes to financial atatrsranto.
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CITY OF HUNTIN'GTON BEACH
GENERAL FUND
STATEMENT OF REVENUE
(ESTIMATED AND ACTUAL)
For the year ended .Tune 30, 1971
Actual Over
or (Under)
Estimated Actual Estimated
PROPERTY TAXES:
Current years - secured $ 3,179,128 $ 3,087,717 $ (91,411)
Current years - unsecured 199,785 193,076 (6,709)
Prior years 80,000 43,763 (36,237)
Interest and penalties on
delinquent taxes 15,000 7,701 (7,299)
Aircraft 4,831 1,895 (2,936)
TOTAL: PROPERTY TAXES 3,478,744 3� =3 k=152 (144,592)
OTHER LOCAL TAXES:
Sales and use taxes 1,800,000 1,869,118 69,118
Franchises • utilities 190,000 159,677 (30,323)
Franchises - dry gas 1,000 358 (642)
Franchises - pipeline 15,000 13,729 (1,271)
i In lieu - water utility 104,000 112,136 8,136
Occupancy tax 35,000 34,263 (737)
Cigarette tax 370,000 380,077 10.077
TOTAL OTHER LOCAL TAXES 2,515,000 2,569,,358 , 54,358
LICENSES AND PERMITS:
' + Licenses - business 270,000 260,526 (9,474)
Licenses - bicycle 1,800 1,689 (111)
Licenses - oil derrick 44,000 43,961 (39)
Permits - building 170,000 197,050 27,050
Permits - plumbing 40,000 60,982 20,982
Permits - electrical 36,000 57,500 21,500
Permits - heating 20,000 22,878 2,878
Permits
- waste water 18,000 16,378 (1,622)
Permits - street and curb 15,000 15,463 463
Other permits 4,000 3,218 (782)
Miscellaneous - other 1 000 5 508 4 5084 508
TOTAL LICENSES AND PERMITS 685,153 65,353
( DINES, FORFEITS AND PENALTIES:
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Court fines 90,000 78,_666 (11,33�)
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See accompanying accountants' report and notes to financial statements.
CITY OF HUNTINGTON BEACH
GENERAL FUND
STATEMENT OF REVENUE
(ESTIMATED AND ACTUAL)
(Continued)
• For the year ended June 30, 1971
Actual Over
or (Under)
Estimated Actual Estimated
REVENUE FROM USE OF MONEY AND PROPERTY:
Interest income $ 150,000 $ 85,390 $ (64,610)
Lease - Huntington Driftwood 39,600 39,600 -
Rentals - land 3,600 3,764 164
Rentals - pier and concessions 6,000 7,402 1,402
Rentals - beach and concessions 100,000 74,567 (25,433)
Royalties and easements 44,000 41,163 (2,837)
Parking lots 280,000 202,180 (77,820)
Other 2,000 2,700 700
TOTAL REVENUE FROM USE OF
MONEY AND PROPERTY 6*25,200 456,766 t168,43k)
REVENUE FROM OTHER AGENCIES:
Trailer coach licenses 70,000 72,792 2,792
State alcoholic beverage license fees 53,000 46,050 (6,950)
County grants - lifeguard and beach
maintenance 75,000 80,354 5,354
State oil and gas lease 43,218 43,218 •
Real property transfer tax 80,000 72,084 •(7,916)
• � From federal government 12,014 9,977 (2,037)
Motor vehicle in-lieu 960,000 940,395 (19,605)
Other 12,000 _23,460 11,460
. TOTAL REVENUE' FROM OTHER
AGENCIES 1,305,232 -1,2882330 16,902)
CHARGES FOR CURRENT SERVICES:
Zoning and subdivision 19,000 24,567 5,567
Sale of maps and publications 7,000 9,085 2,085
Oil Well application fees 3,000 3,650 650
Miscellaneous filing and
certification fees 300 655 355
Plan check fees 80,000 83,108 3,108
Enginecring and inspection fees 35,000 83,757 48,757
.1 Need abatement 40,000 35,878 (4,122)
r Special police services 25,000 23,132 (1,868)
1 Other 100 152 52
t TOTAL CHARGE FOR CURRENT
SERVICES 2099400 263,984 54,584
See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
GENERAL FUND
STATEMENT OF REVENUE
(ESTIMATED AND ACTUAL)
(Continued)
For the year ended June 30, 1971
Actual Over
or (Under)
Estimated Actual Estimated
OTHER REVENUE: - -
Sale of property $ 6,000 $ 11,826 $ 5,826
Discounts earned 2,000 31086 1,086
Other 2,000 3,098 1,098
Off hour inspection fees 74 74
TOTAL OTHER REVENUE +10,1000 —�18L08 8�.084
TOTAL GENERAL FUND
REVENUE S 8.853.376 8.694.493 S[158.883)
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See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
GENERAL FUND
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
(COMPARED WITH APPROPRIATIONS)
For the year ended June 30, 1971
Expenditures
Chargeable Actual
Appropriations Against Encumbrances (Over)
• (After Current and Projects Under
Revisions) Appropriations Authorised Estimated
City Council $ 29,200 $ 25,993 $ - - $ 3,207
City Administrator 96,005 94,922 15 1,068
City Treasurer 16,695 16,614 61 i:,
City Attorney 166,385 144,570 592 21,223
City Cleck 92,075 88,839 669 2,367
Purchasing 38,330 38,080 238 12
Central services 26,945 26,937 - 8
Persomel 47,195 47,022 136 37
Finance 197,602 179,478 2,560 15,564
Traffic study 182 (181) 363
Development coordinator 20,515 20,506 - 9
Elections 2,545 2,536 - 9
Planning 204,439 203,859 540 40
Municipal buildings 49,100 48,819 269 12
Non-departmental 2,052,816 2,052,148 601 67
Fire 1,644,418 1,636,539 7,816 63
Weed abatement 46,230 33,357 - 12,873
Police 2,613,525 2,597,393 16,037 95
Administration - harbors
and beaches 54,890 54,759 116 14
Lifeguard 382,996 382,481 432 83
Harbor maintenance 88,515 87,038 1,446 31
_ Beach maintenance 158,503 144,963 13,486 54
Parking facility 75,471 74,748 700 23
Municipal pier 51,161 50,544 596 21
Parking meters 12,905 12,3:5 500 20
r. Civil defense 20,745 20,717 - 26
Building 336,060 335,574 452 34
Oil field control 34,155 34,137 1 17
Engineering 514,885 508,964 5,875 46
Maintenance administra-
tion 13,420 13,404 - 16
Municipal yard 135,574 124,982 10,534 58
Building maintenance 89,562 85,396 4,131 35
Pump station and sever
maintenance 137,650 135,153 2,461 36
Storm drains 5,045 5,038 - 7
Street maintenance 382,520 353,932 28,547 41
Street trees 225,895 215,355 10,513 27
Street cleaning 127,360 127,339 5 17
Marking and painting 145,895 130,459 15,402 34
Street lighting 423,420 408,822 14,566 32
Traffic signals 38,050 38,045 - 5
f TOTAL EXPENDITURES
AND ENCUMBRANCES 10 $10.601,66 ,$ ?-3 .497 ; 5_ .716
See accompanying accountants report and notes to financial statements.
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Jwaa 30, 1971
Total llnaic Park and PZarillilsd Lvcal: .
Special and Recreation DFrafna 1lafasl
Revenue Proaction facility Facilities Libraz7 special Gas Liluba �uae lhn
' s Fund F=d-. Swws PWW T1°� Tax 1�egEd i�wnd
' ASSETS
Trfasuror's cash and short term investments $ 4,199,447 $ (31,002) $ 98b,2I3 $ 1,135,719 $"1,336,2�4 � 197,024 $ 515,6I3 $ 9,657
Petty cash 30 _ - - _ 5a - -
Accounts receivable 19,402 -. 17,549 853 - _ -
' Accrued interest receivable Ib,lIS - 3,406 4,374 6..033 3779 1,921
Interfund loan receivable 150,430 - _ - 150,430 _ -
Due from other funds 244,839 - _ - - -
Due firoA other agencies 5«5 S45 Y44,$39
TOTAL ASSETS S 4.£92.828 8 131,002)
LIABILITIES, RESERVES AND FUND B.ILANCES
Accounts payable $ 142,130 $ 1,961 $ 16,113 $ - $ - $ 9,373 $ lO5,Or76 $ 3,657 Accrued payroll 49,367 1,472 36,074 - - 11,821
Reimburse-ant contracts payable (Note 3) 251,749 t - _ 250:� 1,745 - `
Refundable acreage fees I1,34b: - - - 11,746 ., .,
Miscellaneous deposits 5,432 3,803 _
- 1,629
Due to other funds 210,348 - 3,160 166,540 20,EKa -
Interfund loan: payable 133,�0 _ _ 133,000 _ -
Reserve for Bolas Drainage 33,000 - - 3, 84. ,
Reserve for encumbrances 158,874 14 84,234 . - 51,212 23,414 -
• road balance (deficit} 3,654_r098 (34."9) ' S".329 _ 3S7,920 1,308.947 � 123 468 -633,MY
TOTAL LIABILITIES, RESERVES AND
Form BALaxLEs s 4.b2g.828 qA9 &W7
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See scemWan?ins &c:cmMtants' report and notes to f#AanciaY statements. '
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Far the year eied June 30„ -1471 =
Spacial �iml
past =a p1mmed Local traffic . �* Tas Liciswe Too
Total ]?tai Safety portb i Lihts�r ' FundSpecial Music aved Recr♦:ation gactlitiss Maur pub
tion 4acilitg lund .�._..�- - -- ---6�-3--1�-3-5- $
Revenue FrcetaTUV S+erees F+mad - .�- ------ 111,9 ,
Funds ,.""Fund rjcd04 $ 17,307 1'3511%0 � � '
$ 2,753,515 $ (25,75b) $
634,9
1970 425,519 1,031,677 87,144
BA,i,ADICE, (DEFICIT) JULY 1: 3b9,74� 227,�g
105,111,333.849
231,971 58,699
2 1,3433.849
ADD: 3,871,226 22,4f,5 '
_
Revenue 2,7&4 77,642 642 .. ------.._......_ --------reserve for enc�braacea, It}2,$91 - ""'"�`�
July 1, 1970 cancelled 187 181 __. -- 1 al 56t�. 1_.,.-txT4--�z ---- -'E94
1,579,099 �71 ----5=8'b9' '�----
Transfer from other funds 987 jC-53
TOTAL BALANCE � pmT.TTORS
376,875 177,515 81, 6
70,152 240,000 5,528
113,798 1,2.08,263 42Q,133 251,971' 58,699
g 2,457,402 _ .. _ ..
Expenditures 556,198 _ 8,709
Transfers Zo other funds 2,777 76,855 �4 '
Expenditures cherg+eatle assinst prior 88,341 _ 2 _ ._..__._..--
year's encumbrances 84.234 - __--.--- -- $� 7` 194
Reserve for en�usibsances 158,a74 _,____.-,_.14 -------- 436 746 44i1,4 '9
June 30, 1971 I'D 152 _.__.1=—9" E94 "`�""...�-
_ 116,589 lj 352 4----2�3 ..�"'__----- t q' �.
3,260,815 �
- TOT.` . DL�ETCTIODtS - S 9 .
BALANCE (DEnCIT), JA=
34, 1971
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set notes to financial atat�ts-
��ri+��aat• `Q aC. . tanta e
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STATEMT OF REVENM - ESTMAM AND ACTUAL
For the year ended June 309' 1971
Park and Planned Local
Total Music and Recreation DrainaSt ' . Traffic Animal ,
Actual Proo t:ion Facility Facilities Safety ParkingLibrary
Estimted Revenue Fund rF Special License Fee
Fiord Fund SaMa Deter lrvaA lhiad Gas Tam Fund lhm@
Property taxes $ 1.I63,794 $ ,143,962 $$ 98,137 $ 63 ,Recreation department - -
fees and charges 93,000 841850 - 84,850
Library fines and fees 11,000 11,531 - - 11,531 _Rental 6,800 81298 - 8,299 _
Suer permits 60,000 1111969 - - 111,969 - -
Int2reat 163,000 176,122 - 45,035 65,702 IX 57 330 -
Local assessments 260,0Q0 361,9Q4 - - - 4,486 3,569 -
Vehicle code fines 260,000 151.971 - 304,044 `� 57,86Q - - _ - -
Parki - 251,971'
ng dater collections 65,000 58,6" - - - 58,549
State gasoline taxes 1,035,000 11008,108 - _ - -
Aninal licenses 75,000 87,19�, - - 1,t�,108 -
Subdivision licenses 80,000 406,424 - 406,424
Unit lot fees 150,000 72,080 - 72,000
Other revenue 13,631 10,967 6,975 3,971 21 `
Revenue - other agencies 717,925 44,102 - 44,102 - - -
Revenue - sale of merchandise 22,000 332045 - 33,045
TOTAL. �^ 4.246.15fl 5-3.871.226 S 1� 5 1.333.849
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See acc0mpa0Ying accountants' report and notes to f ,
iaancial statasCats,
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CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
(COMPARED WITH APPROPRIATIONS)
For the year ended June 30, 1971
Actual
Encumbrances (Over)
and Projects Under
&propriation Actual Authorized Estimated
Music and Promotion Fund
Park and Recreation
i Facility Fund �$� ,787 0_24
1
Planned Loral Drainag.
Fund S[4 )
Sewer Fund
! Special Gas Tax Fund 4 .- 177.51 � 00.92q)
Animal License Fee
Fund A.11iff A )
Library Fund mom
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See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
BA',ANCE SHEET
CAPITAL OUTLAY FUNDS
I
June 30, 1971
1
Special 1970 1955 Bond
Capital Civic Park Bond Construe-
Outlay Improvement Construction Lion
ASSETS Totals Fund Fund Fund Fund
Treasurers' cash and
' short-term investments $3,277,458 $ 181,297 $ (157,879) $ 3,173,730 $ 77,310
Accanints receivable 16,916 - 16,916 - -
Accrued interest receivable 20,810 278 - 20,532
Due from other funds 7,274 7,274 ••
TOTAL ASSETS S3 2.3- $1 1 1&689) 3 3,1�201
LIABILITIES, RESERVES
6 AND FUND BALANCES
Accounts payable $ 29,738 $ 100 $ 7,462 $ 22,176 $
f( Due to other funds 7,274 7,274 -
Reserve for estimated
uncollectible accounts
' •� receivable 7,000 - 7,000 -
Reserve for encumbrances 16,054 7,980 8,074 - -
Fund balance 3,262,392 173,495 (160,499) 3�172,086 77,310
TOTAL LIABILITIES
1 k,:SERVES AND
ruND BALANCES 1 322.58 $ $ ram) S 3.194.262 S 7�7.W
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See accompanying accountants' report and notes to financial statements.
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' CITY OF HUNTINGTON BEACH
CAPITAL OUTLAY FUNDS
STATEMENT OF CHANGES IN FUND BALANCE:
For 4he year ended June 30, 1971
Special 1970 1955 Bond
Capital Civit, Perk Bond construe-
outlay Improvement Construction tion
Total Fund Fund _ _Fund F and
??UND B!'.LANCE,
JULY 1, 1970 $6,184,366 $ 396,856 $ - $ 5,710,200 $ 77,310
ADD:
Revenues 1,288,360 173,130 793,601 321,629 -
Transfers from other 47,059
funds 47,059 - `
Reserve for encumbrances,
June 30, 1970 cancelled 149,778 94,721 55,057 -
Decrease in reserve for 24,379
refuse collections 29,379
1
TOTAL BALANCE AND
096 6.031
ADDITIONS 7,698,942 664_ �,_.07 _925, 829 77,310
,
DEDUCT:
Expenditures chargeable
against current year's
2,269 1,456,444 2,672,462
appropriations 4,131,180
Expenditures chargeable -
against prior year's
appropriations 95,035 94,863 172 187,281
Transfers to other funds 187,281 - - -
Increa8e in reserve for
estimated uncollectible
accow;ta receivable 7,000 7,000 -
Reserve for encumbrances,
June 30, 1971 16,054 7,980 8,074 -
Transfer accounts to
Civic Improvement Fund _ 396,1OO (3_86,100) - `
TOTAL DEDUCTI.JUS 4,436550 491,212 1,085,595 2,859,743_
�? FUND BALANC1g71EFICIT) �^3.262.392 I .4 S 1I �.�60. ) I^ 3- 2,086 17
am 30,
a +
1
See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
CAPITAL OUTLAY FUNDS
STATEMENT OF REVENUE ESTIMATED AND ACTUAL
For the year ended June 30, 1971
• Acwal
Over
or (Under)
Estimated Actual Estimated
SPECIAL CAPITAL OUTLAY FUNDS:
Property taxes - secured $ 159,847 $ 155,331 $ (4,516)
Properr;, taxes - unsecured 10,045 9,609 (436)
Property taxes - prior years 3,000 2,178 (822)
Interest and penalties 500 387 (113)
Interest incor-a 8,500 5,591 (2,909)
Earned discounts 50 34 (15)
TOTAL 1 4 173.12A s )
CIVIC IMYROVu'MENT FUND: i
Interest income $ - $ 11,713 $ 11,713 I
Utility tax - water - 30,378 309378
Utility tax - gas - 60,594 30,594
Utility tax - telephone 129,301 129,301
Utility tax - electricity - 93,615 93,615
s Refuse collection 490,000 267,428 (222,572)
Property taxes 181,942 167,505 (149437)
Intettiot income 13,067 13,067
TOTAL, OZL942 i
1970 PARK BOND CONSTRUCTION FUND:
Interest income
Set accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH f
STATEMENT OF EXPENDITURES AND ENCUMBRANCES
COMPARED WITH APPROPRIATIONS
a
For the yaar ended June 30, 1971
SPECIAL CAPITAL OUTT.AY FUND j
- f
Expenditures
Chargeable Actual
• Against Encumbrances (Over)
Appropriations Current and Projects Under
(As Reviaed) Appropriations Authorized Estimated
Equipment boat - harbor $ 445 $ 445 $ $
Improvement, other 7,980 - 7,980
Improvements, street
lights I,375 1,372 3
Office equipment -
building 455 452 3 I
Total Capital Outlay
Fund ,STO_255 $ 2.269 >
CIVIC IMPROVEMENT FUND
1970 Park bond
redemption $ 1100000 $ 110,000 $ - $ - !�
1970 Park bona interest
payment 350,765 350,762 - 3
Civic center site 3 880 3,B77 - 3
Fire stations 535,430 527,352 8,075 3
Magnolia fire station 5,000 4,998 - 2
Architects services -
library 154,715 154,711 4
Architects services
civic center 258,070 258,068 - 2
• Architects +services -
fire department 6,120 6,117 - 3
Civic renter audio visual 29,065 29,064 - 1
Library information and
control 11,500 w 1115500 -
Total Civic
Improvement Fund S 1.464.545 S 1 45�5.4_49
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See accompanying accountants' report and notes to financial statements.
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iilwt 5• .,. '. tip' : '•:z':- :- `tirr`a+r -' '�`- - -
hanal.30, 1471 � --• • - . '' ' .• `-y j~ �
i
ASSETS LIABILITIES,• RnWtVES, CONT&TEDTIC0 AND J"JKD BALD
CURRENT ASSETS: CURRENT LIABILITIES:
Treasurer's cash and short-term investments $ 1,408,216 Accounts payable
Accounts receivable $ 189,026 Accrued payroll- $ 168,501
Lesm estimated uncollectible accounts 20,000 169,026 Reimbursement contracts payable (Note 3) 25,301
Accrued interest receivable 11,513 Matured interest payable 6,940
Due from other funds 3,160 Accrued interest payable
2�'De Deposits 32,269 Refundable deposits 249
Due to .:-per funds 450,551
TOTAL CURRENT ASSETS 1,624,184 Current portion of revenue bonds payable 90,000
Advance from municipality - general obligation
RESTRICTED ASSETS: bonds - current portion 35,000
Revenue bond debt service, cash 87,523
Revenue bond reserve: TOTAL CURRENT LIABILITIES
Cash $ 744 799,339
Investments, at cost (which approxi- LONG-'"BERM DEBT
ya
sates market) 233,714 234,458 Revenue bonds payable� $ 3,450 000
Advance from municipality - general obligation
TOTAL RESTRICTED ASSETS 321,981L bands _ 350,000 i
3,900,M
UTILITY PLANT IN SERVICE, AT COST (NOTE 1): Leas current portion 125,000
Source of supply 382,842
Reservoirs and tanks 3,148,297 NET LONG-TERM DEBT 3,675,000
Transmission and distribution plant 8,560,900
Service meters and hydrants 2,901,187 RESERVE FOR REVENUE BOND RETIREMENT 234,458
General plant. and equipment 621,697 I
15,614,913 COWMIBUTIONS:
Less allowance for depreciation 1,552,919 Contributions from municipality 92,608
Contributions from subdividers 8,373,398
NET UTILITY PLANT IN SERVICE 14,061,994
TOTAL CONTRIBUTIONS 8,466,006
FUND BALANCE 2,833,356-
TOTAL LIABILITIES, RESERVES, COIMIBUTIONS
TOTAL ASSETS �$�l .008.152 AND FUND BALANCE. Si6.00B 1S9
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i
See accompanying accountants' report and notes to financial statements.
►17-
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• - - •i "? _ -::+. er i��
.�+-
ati�.'1&:A�'._@ '.Pi.s�l•3�P t� . - - ---=�•.,ei.�ti"°''3u7e-.'!'x_ag.�• r._h _ .tee _.. _r�....�-�' _��:��
CITY 0: HUNTINGTON BEACH
STATEMENT OF CHANGES IN FUND BALANCE
1 AND RESERVE FOR REVENUE BOND RETIREIIENT - WATER UTILITY FUND
For the year ended June 30, 1971
Reserve for
Fund Revenue Bond
Balance Retiremeat
BALANCE, JULY 1, iy70 $2,328,350 224,789
ADD:
Net income 542,927 9,669
TOTAL BALANCE AND ADDITIONS 2,871,277 234,450
DEDUCT:
Prior year uncollectible accounts 16,000 -
Reimbursement for off-site construction 21,921
TOTAL DEDUCTIONS 37,921
+ BALANCE, JUNE 30, 1971
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See accompanying accountants' report and uotea to financial statements.
' -18-
CITY OF HUl1TTINGT011 BEACH
t WATER UTILITY FUNID
STATEMENT OF INCOME
For the year ended June 30, 1971
OPERATING REVENUE:
Sales - u.etered $ 1,830,700
Sales - unmetered 1,989
Sales - irrigation 8,155
Sales - municipal 24,900
Sales - construction 3,189
TOTAL OPERATING REVENUE 1,868,933
Less operating expenses l:298,033
OPERATING INCOME 570,900
a
NON-OPERATING REVENUE:
Interest income $ 70,662
Fire hydrant rental ?^,600
Reimbursable services 1,361
Acreage fees 30,302
Tract fees 52,443
New services 22,443
Earned discounts 840
Other 2,747
TOTAL NON-OPERATING REVENUE
LESS NON-OPERATING EXPENSE:
Fiscal agent fees 1,685
Interest transferred to General Fund
on G. 0. Bonds 9,625
j Interest on 1963 Revenue Bonds 124,925
Payments to City in lieu of taxes 112,136
• TOTAL N014-OPERATING EXPENSE 248,371
�f EXPENSE 27 73)
NET NON-OPERATING REVENUE (EXPENSE) 9
( •-_.
t NET INCOME 54 927
•.
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't
See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
WATER UTILITY FUND
STATEMENT OF OPERATING EXPENSES
For the year ended June 30, 1971
OPERATING EXPENSES:
Source of supply:
Labor $ 3,918
Expense 448
Water 294,938
Maintenance - expense 543
Total cperation $ 299,847
Pumping expense:
Labor 8,701
Expense 508
Purchased power 54,178
Puma tax 195,378
Maintonance - labc= 2,973
Maintenance - expense 5U66
Total pumping 262,324
Water treatment plant:
Labor 4 700
Expenses 8,663
Maintenance - labor 346
1 Fxpense - equipment 128
Total water treatment 13,837
Tranami.esion and distribution:
Labor, general 45,049
Labor, fire hydrants 198
Labor, services 401
Labor, meter repairs 25,547
• Labor, valve operations 7,604
Labor, inspection 12,798
Expenses, General 3,265
Expenses, fire hydrants 644
Expenses, services 176
Expenses, meter repairs 4.145
Expenses, other 4,515
Total transmission and distribution 104,342
Customer accounting:
Labor, general 17,496
y Customer accounting 85,888
Uncollectable accounts 8,892
Total customer accounting 112,276
See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
WATER UTILITY FUND
STATEMENT OF OPERATING EXPENSES
(Continued)
For the year ended June 30, 1971
OPERATING EXPENSES (CONTINUED):
Administrative and general:
Salaries, supervisor $ 21,358
Office supplies 285
Utilities, general 21,588
Retirement, employee, 11,132
Uniform allowance 366
Conferences and meetings 120
Books and periodicals 21
Dues and memberships 120
Total administrative and general $ 54,990
Other expenses:
Depreciation (Note 1) 328,489
Vehicle operation 9,366
Power equipment operation 258
Radio cmintenance 1,098
Property tax lease 3,576
Refund - SCW contract 1,864
San Joaquin lease (Note 4) 100,000
Reservoir lease 10
j Cross connection research 300
Small tool repairs 58
i Other expense 5,398
1 Total other expenses 450,417
�. TOTAL OPERATING EXPENSES S L.29
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See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH '
BALANCE SHEET
DEBT SERVICE FUNDS
Jnne 30, 1.971
• 1955 Water 1910 Park
Bond Interest Bond Interest
and and
Redemption Redemption
Total Fund Fund
ASSETS
Treasurer's cash and short-term
investments $ 71,022 $ 71,022 $ -
Cash with fiscal agent 4,500 900 3 600
Accrued interest receivable 279 ^79
TOTAL ASSETS $ A
LIABILITIES AND FUND BALANCE
Matured interest payable $ 4,500 $ 900 $ 3,600
Fund balance 71L301 71,301 -
TOTAL LIABILITIES AND
FUND BALANCES l O1 ,
STATEMENT OF CHANGES IN FUND BALANCE
For the year ended June 30, 1971
• FUND BALANCE, JULY 1, 1970 $ 69,927 $ 690927 $
ADD:
Revenues 46,119 46,119
DEDUCT:
Expenditures 44,,745 44,743
FUND BALANCE, JUNE 30, 1971 1 � �
1
See accompanying accountants' report and notes to financial statements.
d
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CITY OF HUNTINGTON BEACH
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL
DEBT SERVICE FUNDS
For the year ended June 30, 1971
Actual
Over
(Under)
Estimated _ Actual Estimated
1955 WATER BOND INTEREST AND
REDEMPTION FUND:
Property taxes secured $ 41,752 $ 40,521 $ (1,231)
Property taxes - unsecured 2 624 2,757 133
Property taxes - prior years 1,000 625 (375)
Interest and penalties 150 103 (47)
Interest income 2,000 2,113 113
TOTAL 26 A.&Lw S f )
STATEMENT OF EXPENDITURES CO[4PARED WITH APPROPRIATIONS
1
For the year ended ,Tune 30, 1971
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1
Expenditures i
Over (Under) i
Appropriations Expenditures_ Appropriations
Fiscal agent costs $ - $ 120 $ 120
Bond redemption 35,000 35,000
Interest payments 9,625 9,625
• TOTAL R 4 2'
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See accompanying accountants' report and notes to financial statements.
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CITY OF HUNTINGTON BEACH
. BALANCE SHEET
SPECIAL
ASSESSMENT AND TRUST FUNDS
June 30, 1971
. Treasurer's
Special Special Treasurer's
Assessment Assessment Departmental
Total s� Fund^ Fund Trust Fund
ASSETS
Treasurer's cash and short-term 5 1. 2, 1
investments
LIABILITIES AND FUND
BALANCES 606 $ 606 $ - $
Accounts payable $ 77,700
Miscellaneous deposits 77,700 -
Due to assessment distri;:c 6,464 - 6,464 -
bondholders w
17,430 17,430
Interfund loans payable -
Fund balance _ 10i31 10,331
TOTAL LIABILITIES AND FUND
BALANCES AILLAU
1
e
' STATEMENT Or CHANGES IN FUND BALANCE
For the year ended June 30, 1971
. D BALANCE JULY 1, 1970 $ 11,295
FU.
DEDUCT: 964
Expenditures
FUND BALANCE, .TUNE 30, 1971
1
' See acccmpanying accountants' report and notes to fi.-ancial statements.
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CITY OF HUNTINGTON BEACH
tIOTES TO FINANCIAL, STATEMENTS
1 June 30, 1971
I
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1. The Water Utility Plant in Service is composed of the following assets:
Accumulated Net
Assets acquired by City
Cost Depreciation Book Value
at cost $ 7,387,403 $ 1,028,732 $ 6,358,673
Assetn contributed to City
by subdividers, at value
as estimated by City
personnel 8,227,508 524,187 7,703,321
' Total ,^�l 14.9I3 r; SS_2.�1I9 514.061.994
2. The outstanding bonded debt of the City consists of the following:
1955 General Obligation Water Bonds with
interest rates, 27 to 37.. Maturing
annually on August 1 in installments
of $35,000 to 1980 I.
., 1963 Water Revenue Bonds authorized
but unissued _5 1,950.000
L'
}� 1963 Water Revenue Bonds, Series A,
i. 3.25% to 4.75%. Maturing annually
ou November 1 in installments as
�- follows:
1970-71 $ 90,000 1984-85 $ 320,000
1972-73 200,000 198E 170,000
1974-76 330,000 1987-88 360,000
1977-78 240,000 1989 190,000
1979-80 260,000 1990 200,000
1981 140,000 1991 210,000
! 1982-83 300,000 1992-93 440 000
Total 450.000
1970 Part: Bonds, with interest
rates 5% to 6%. Maturing annually
+ on March 1 in varying amounts
beginning in 1971 with final
maturity in 1995 �
See accompanying accountants' report.
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CITY OF IiUNTINGM1 BEACH
NOTES TO FINANCIAL STATEMENTS
(G,nti.nued)
,June 30, 1971
3. All water and sewer reimbursement agreements provide for reimbursement
• of developers' costs incurred in constructing water and sewer facilities.
Reimbursement is required to be made from fees collected from users of
the facilities up to the amounts stipulated in the agreements but for a
period not to exceed five years from completion of the facilities. After
five years no further reimbursements are required to be made. Drainage
reimbursement agreements provVe for similar reimbursements except that
they do not contain the five year limitation. These agreements provide
for full reimbursement of the amount stipulated out of fees collected
from future users. The City follows the practice of recording the fees
as a liability as they are collected and charges payments to developers
funder the agreements to a liability account.
i
4. Effective August, 1966, the City leased 400 acre feet of water storage
capacity in the San Joaquin Reservoir. The lease provides for annual
payments, in varying amounts, over a fifty year term. For the period
1966 to 1975 the annual payment is $100,000. The total amount payable
over the life of the lease is $2,810,000.
f
i�
See accompanying accountants' report.
.1
' -26-
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'V � 'L:il{:I'Iik" '1 "'L.3.�.:� "�. '�"-i .t1:�' '..x�. + m'r� •sr yQ"y .+ f�', .�•. y�Y, :�+;i 'b'• .e
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1 SUPPLEMENTARY INFORMATION
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CITY OF IIUNTINGTON BEACH
SUPPLEMENTARY INFORMATION
TREASURER'S CASH AND SHORT TERM INVESTTIENT:
Treasurer's cash and investment balances at June 30, 1971 consist of
the following:
Demand deposits:
Bank of America
General account $ 1,066,690
Security First National Bank:
Water account 458,216
United California Bank:
Special Assessment Fund 6,464
Treasurer's Trust Fund 77,700
Total derzand deposits $ 1,609,070
Time deposits:
Security Pacific National Bank 950,000
Bank of America 8,255,000
Total time deposits 9,205,000
TOTAL TREASURER'S CASH
REVENUE:
Revenue of the General Fund totalled $9,694,493 for the year ended
June 30, 1971, an increase of $898,418 over the previous year. A comparative
summary statement of revenue follows:
Increase
1969-70 1970-71 (Decrease)
Property taxes $ 3,091,965 $ 3,334,152 $ 242,187
Other local taxes 2,256,982 2,569,358 312,376
i Licenses and permits 714,774 685,153 (29,621)
Fines, forfeits and penalties 79,169 78,666 (503)
Revenue from use of money and property 492,346 456,766 (35,580).
Revenue from other agencies 306,523 1,288,330 981,807
+ . Charges for current services 694,975 263,984 (430,991)
2 Other revenue 159_,341 10,084 1( 411257)
4 7.79 0�,5 10.§94.493 $ 898.411
,
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See accompanying accountants' report.
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T�
1963 WATER REVENUE; BONDS:
Water revenue bonds in the amount of $5,700,000 were approved by the
voters at an election field April 30, 1963, and on November 1, 1963, the City
sold a portion of the bonds amounting to $3,750,000.
• Under the provisions of Resolution #1844, certain cash accounts were
• established to assure the proper disposition of bond proceeds and provide for
j the repayment of such bonds in a systematic manner. Payments may be made from
1
f these accounts only as provided by law and the resolution mentioned above.
Security Pavidic National Bank, Main Office, Los Angeles is fiscal agent for
these bonds.
1963 WATER REVENUE BOND INTEREST A14D REDEMPTION FUND:
} Payments from this fund are restricted for payment of bond interest
s
and principal of the Water revenue bonds.
The bond resolution requires that the ff.scal agent out aside out of
the bond revenue fund at lease one-sixth of the semi-annual interest maturity
! each month and at least one-twelfth of the bond principal that will mature and
be payable within the ensuing year.
f
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1963 BOND RESERVE FUND:
' From the proceeds of the bond issue an amount of $175,000 (a sum
equal to the maximum annual debt service) was required to be set aside in a
i
Bond Reserve Fund. This fund is restricted solely to the payment of principal
and interest on the bonds in the event that sufficient monies are not available
1
from the Bond Interest and Redemption Fund. Any moniea used out of the Bond
! Reserve Fund for purposes within its restrictions, are to be replaced immedi-
ately from the Bond Surplus or the Bond Revenue Fund.
See accompanying accountants' report.
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1970 PARK BONDS:
At an election held June 3, 1969, the voters authorized the issuance
of $6,000,000 in bonds for the purpose of providing ; ark and recreational
facilities to the City of Huntington Beach.
Bonds were issued as of March 1, 1970 with interest coupons attached.
Interest is payable in semi-annual payments on September 1, and
March 1, at rates varying from 5% to 6%.
i Principal payments are payable on March 1, of each year with final
maturity in 1995.
t
See accompanying accountants' report.
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