HomeMy WebLinkAboutFY 1978/1979 City of Huntington Beach Annual Financial Repor V\V
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i CITY OF HUNTINGTON BEACH
1 STATE OF CALIFORNIA
' • 310,
ANNUAL �o
•1 & /3o1,g � 5
FINANCIAL
HUNTINGTON BEACH
1 REPORT
FOR THE YEAR ENDED JUNE 30, 1979
1
1
1
CITY OF H TON BEACH '
UNTI NG
COMBINED BALANCE SHEET - ALL FUNDS AND ACCOUNT GROUPS '
JUNE 30, 1979
Liabilities , Reserves, Fund Balances Special Internal Debt
and Retained Earnings General Revenue Service Service '
Liabilities:
Cash overdraft 922,491 19,348
Accounts payable and accrued expenses $ 1 ,523, 147 335,150 12,911 -
Unearned revenue 15,568 - - - '
Liability insurance claims payable (Note 9) - - 552,280 _
Workmen 's compensation claims payable (Note 9) - - 570,928 -
Customer deposits 205,354 1 ,548 - - '
Due to other funds 25,940 573,714 3,458 -
Accrued interest payable - - - -
Deferred revenue - 14,960
Current installment of bonds/notes payable (Notes 2,6,7) - - - -
Matured interest payable - - - -
Deferred rental income (Note 3) 588,354 - - -
Bonds and interest payable - - - - ,
Obligation under financing leases - - - -
Bonds , net of current installment (Note 6) - - - -
Notes payable, net of current installment (Notes 2,7) - - - - '
Total liabilities 2,358,363 1 ,847,863_ 1 , 139,577 19,348
Encumbrances outstanding 1 , 128, 161 2,586,855 - -
Reserves , contributions , fund balances & retained earnings : '
Reserves for:
Revenue bond retirement - - - -
Other 410,000 78,226 -
Total reserves 41o,000 7 ,226 - -
Contributions :
Contributions in aid of construction - — - - -
Contributions from general fund - - - -
Total contributions -
Fund balances :
Unappropriated fund balance (Note 10) 2 ,091 ,495 8,572 ,681 52,280
Appropriated fund balance 1 ,767,533 134,945
Total fund balances 3, 59 ,02 8,707,626 - 52,28
Reserve for investments in general fixed assets _ - -
Re>ained earnings - - 2,214,310 -
Commitments and contingencies (Notes 4,8) - - - -
$ 7,755,552 13,220,570_ 3,353,887 71 ,628 '
See accompanying notes to financial statements. --- —
8 '
' CITY OF HUNTINGTON BEACH
COMBINED BALANCE SHEET - ALL FUNDS AND ACCOUNT GROUPS EXHIBIT A, Continued
' JUNE 30, 1979 General General
Capital Trust Long Term Fixed
Projects Enterprise and Agency Debt Assets
904,940 - - -
' = 245,239 220,940 = _
61 ,250
145,763 _ - -
20,062
6,444 -
' - - 12,795,831 -
2,030,000 _ 4,810,000 _
1 ,901 ,910 _ -
- 5,309, 164 227,384 17,605,831 -
2,662 - - -
- 194,924 - -
15, 121 ,693 - - -
' _ 1,359,932
647,302 _ 1 ,094,901 -647.302 - 1 ,094,36T- - -
- - - 31 ,326,55E
_ 8,454,858
' _649„964 30,440,571 1 ,322,285 17,605,831 31 ,326,556
9
U CITY OF H NTINGTON BEACH '
GENERAL FUND EXHIBIT B '
BALANCE SHEET
JUNE 30, 1979
Assets
Ca .'- and term deposits $ 6,418,035 ,
Iccou; zs receivable - net 35,325
ProGer=; taxes receivable - net 228,635
Inte-=s: receivable 138,501 ,
1 - ✓e t-�r:ts at cost which approximates market 189,245
Due from other funds 486, 150
Due from other governmental units 137,446 ,
Prepaid expenses 99,551
Restricted assets - cash 22,664
Total assets $ 7,755,552 '
Liabilities , Reserves and Fund Balance
Liabilities : '
Accounts payable and accrued expenses $ 1 ,523, 147
Unearned revenue 15,568
Custoner deposits 205,354 '
Deferred rental income 588,354
Due to other funds 25,940
Total liabilities 2,358,363 '
Encumbrances outstanding 1 , 128, 161
Reserve for amounts due beyond one year 41o,000 '
Fund Balance:
Unappropriated fund balance 2,091 ,495
Appropriated fund balance 1 ,767,533 e
Total fund balance 3,859,028
Total liabilities , reserves and fund balance $ 7,755,552 '
See accompanying notes to financial statements . '
10
CITY OF-HUN-TINGTON BEACH-
' GENERAL FUND EXHIBIT C
STATEMENT OF CHANGES IN FUND BALANCE
YEAR ENDED JUNE 30, 1979
Fund balance, July 1 , 1978
$ 4, 109,212
' Add:
Revenue and transfers 32,330,003
Cancellation of 1978 outstanding encumbrances 854,144
Transfer to close Civic Improvement Fund 592,074
Total additions 33,776,221
Deduct:
Expenditures and encumbrances 33,594,546
Amount reclassified to reserve 410,000
' Transfer to Grant Fund 21 ,859
Total deductions 34,0261405
' Fund balance, June 30, 1979 $ 3,859,028
1
See accompanying notes to financial statements.
1
11
1
CITY OF HUNTINGTON BEACH
GENERAL FUND EXHIBIT D '
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL
YEAR ENDED JUNE 30, 1979
Excess '
of Actual Percentage
Revenue Over of
Original Revised Actual (Under) Estimate '
Budget Change Budget Revenue Estimate Realized
General Property Taxes
Current taxes - secured $ 5,777,240 5,777,240 5,951 ,007 173,767 103%
Current taxes - unsecured 678,483 678,483 675,892 (2,591 ) 100 '
Interest and penalties 23,000 23,000 38,208 15,208 166
Aircraft 5,569 5,569 5,729 160 103
Other 213 213 - '
Total general property taxes 6,484,292 - 6,484,292 6,67.1 ,049 186,757 103
Other Local Taxes t
Sales and use tax 7,200,000 7,200,000 7,251 ,302 51 ,302 101
Franchises - utility 530,000 530,000 576,294 46,294 109
Franchises - pipeline 22,000 22,000 27,243 5,243 124 ,
In lieu - water utility 749,250 749,250 748,880 (370) 100
Occupancy tax 85,000 85,000 98, 156 13, 156 115
Cigarette tax 590,000 590,000 534,407 (55,593) 91 '
Utility tax - water 200,000 200,000 227,421 27,421 114
Utility tax - gas 500,000 500,000 640,305 140,305 128
Utility tax - telephone 1 ,000,000 1 ,000,000 1 ,047,370 47,370 105
Utility tax - electricity 1 ,580,000 1 ,58o,000 1 ,673,983 93,983 106 '
Other 230 230 -
Total other local taxes 9, 176,250 3,280,000 12,456,250 12,825,591 369,341 103 e
Licenses and Permits
License - business 610,000 61o,000 643,801 33,801 106 '
License - oil well production 1 ,062,500 1 ,062,500 969,243 (93,257) 91
License bicycle 10,000 10,000 13,932 3,932 139
License - oil inspection 76,000 76,000 107,250 31 ,250. 141
License - animal 150,000 150,000 120,739 (29,261) 80 '
Permits - building 425,000 425,000 256,395 (168,605) 60
Permits - plumbing 90,000 90,000 76,435 (13,565) 85
Permits - electrical 130,000 130,000 124,153 (5,847) 96 '
Permits - heating $ 45,000 45,000 45,079 79 100%
12
CITY OF HUNTINGTON BEACH
' GENERAL FUND EXHIBIT D, Continued
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL
YEAR ENDED JUNE 30, 1979 Excess
' of Actual Percentage
Revenue Over of
Original Revised Actual (Under) Estimate
' Budget Change Budget Revenue Estimate Realized
Licenses and Permits, Continued
' Permits - waste water $ 22,000 22,000 13,004 (8,996) 59%
Permits - street and curb cut 46,000 40,000 50, 132 10, 132 125
Permits - other 27,000 27,000 65,377 38,377 242
' Total licenses and permits 2,687,500 2,687,500 2,485,540 (201 ,960) 92
Fines and Forfeitures
' Court fines 225,000 225,000 184,837 (40,163) 82
Library fines and fees 32,000 32,000 39, 189 7,189 122
' Total fines and forfeitures 257,000 257,000 224,026 (32,974) 87
Use of Money and Property
Interest income 325,000 50,000 375,000 755,723 380,723 202
' Lease - Huntington Driftwood 96,000 96,000 32,000 (64,000) 33
Rentals - land 50,000 50,000 53,244 3,244 106
Rentals - park buildings 25,000 25,000 31 ,036 6,036 124
' Rentals - pier and concessions 45,000 45,000 50,088 5,088 111
Rentals - beach and concessions 160,000 160,000 177,159 17,159 ill
City oil wells 70,000 70,000 79,721 9,721 114
Royalties and easements 90,000 90,000 79,440 (10,560) 88
' Royalties - park 900 ' 900 364 (536) 40
Parking tots 490,000 490,000 488,735 (1 ,265) 100
Sunset Vista camper facility 55,000 55,000 52,219 (2,781 ) 95
' Showmobile rental 1 ,000 1 ,000 1 ,050 50 105
Community gardens 200 200 180 (20) 90
Central Park concessions 15,000 15,000 6,709 (8,291 ) 45
' Other 1 ,500 1 ,500 6,447 4,947 430
Total use of money and $ 1 ,424,600 50,000 1 ,474,600 1 ,814,115 339,515 123%
property
13
� f1f1f1Ufi �
� F111fii101fiL FiEPOFiT
� o, the
1 CITY OF HUNTINGTON BEACH
� for the
� FISCAL YEAR ENDED JUNE 3071979
1
DEPARTMENT OF FINANCE
�,.� Frank B. Arguello, Director
Daniel T. Villelle, Asst. Director
' H
CITY OF HUNTINGTON BEAC
' OFFICE OF
DIRECTOR OF FINANCE
FRANK B. ARGUELLO, DIRECTOR
Mr. Floyd G. Belsito September 28, 1979
' City Administrator
City of Huntington Beach, California
' Dear Mr, Belsito:
Submitted herewith is the Finance Department's annual report containing the City's financial statements for the
fiscal year ended June 30, 1979. The comprehensive report encompasses all funds, reflects the results of all
' financial transactions , and represents the culmination of accounting processes performed during the fiscal year.
General Fund
' Revenues and transfers from Other Funds for general fund purposes totalled $32 ,330,003 in FY-1979, an increase of
$ 387,232 , or 1 .2 when compared to FY-1978. The greatest impact on City revenue, of course, was brought about
by the passage of Proposition 13. The decrease in property tax revenue of $5,820,885 was softened by the City's
receipt of $2, 133,703 in State surplus aid funds. The revenue from various sources and the changes as compared
to FY-1978 are as follows .
' Percent Change from FY-1978
Source Amount of Total Amount Percent
Property Taxes $ 6,671 ,049 20.6% $ (5,820,885) (46.6%)
' Other Local Taxes 12,825,591 39.7 4,872,543 61 .3
Licenses and Permits 2,485,540 7.7 (167,589) (6.3)
Fines and Forfeitures 224,026 .7 7,664 3.5
' From Use of Money and Property 1 ,814, 115 5.6 398,903 28.2
From Other Agencies 5,502,464 17.0 2,426,214 78.9
From Charges for Current Services 953,790 3.0 15,608 1 .7
Other Revenue 84,458 .3 (15, 142) �42.9)
15.2)
Transfers from Other Funds 1 ,768,970 5.4 0 ,330,084)
Total $ 32,330,003 100.00 $ 387,232 1 .2
1
CITY OF HUNTINGTON BEACH
Gross expenditures and encumbrances for general fund purposes totalled $33,594,546 in FY-1979 - an increase of
$3,663,072 or 12.2 over FY-1978. Expenditures and encumbrances are indicated by function as follows. The change '
in relation to FY-1978 expenditure and encumbrance activity is also demonstrated.
Percent Change from FY-1978 '
Function Amount of Total Amount Percent
Administrative Services S 5,800,398 17.3% $ 2,003,215 52.8% '
Community Services 8,384,971 25.0 (735,765) (8.7)
Public Safety Services 17,017,425 50.6 1 ,840,604 12. 1
Support Services 2,391 ,752 7. 1 555,018 30.2
Total S 33,594,546 100.0% S 3,663,072 12.2% '
The unappropriated general fund balance decreased from S2,258,779 in FY-1978 to $2,091 ,495 in FY-1979, a decrease '
of $167,779, or 7.4 . The City continues to fund accrued employee vacation and sick leave in the amount of
51 ,715,887.
Assessed valuation decreased b $22 538 125 to $831 783 620 in FY-1979 - a 2.6% decrease. In FY-1980 it is '
anticipated the assessed valuation will increase to 5983,927,670, an increase of $152, 144,050, or 18.3%. A
comparison of assessed valuation over the last three years with anticipated FY-1980 assessed valuation is as '
follows.
Assessed Change from Prior Year '
Fiscal Year Valuation Amount Percent
1980 $ 983,927,670 152, 144,050 18. 3%
1979 831 , 783,620 (22,538, 125) (2.6)
1978 854,321 ,745 144,242,510 20.3
1977 710,079,235 129,455,875 22.3
Outstanding general obligation bonds as of June 30, 1979 totalled $4,810,000, comprised of $70,000 outstanding '
on the 1955 Water Bond issue and $4,740,000 outstanding on the 1970 Park Bond issue. There is, as of June 30,
1979, $2, 160,000 outstanding on the 1963 Water Revenue Bond but this does not represent a general obligation '
of the City of Huntington Beach. The tax rate necessary to provide funds for voter approved indebtedness totalled
$. 1972 per S100 of assessed valuation in FY-1979 and is anticipated to be the same rate per $100 of assessed
valuation in FY-1980. This is in addition to the City's share of the overall $4.00 per $100 of assessed
2
CITY-OF HUNTINGTON BEACH
' valuation permitted as a result of the passage and implementation of Proposition 13.
Comparative data for the City's Water Utility operation for the past two years is as follows .
' 1979 1978
Total operating revenue $ 5, 168,003 $ 4,759,570
Net income 1 , 146,467 905,882
A supplemental information section has been included in this report which contains comprehensive statistical
data. Such data is presented so as to relate physical , economic, social and political characteristics of our
city which should give the readers of this report a more broad and more complete understanding of the City and
its financial operations .
In accordance with Section 616 of the City Charter, the City Council shall employ at the beginning of each fiscal
year an independent certified public accountant who should examine all City accounts and the results reported
to the City Council . The opinion of Peat , Marwick, Mitchell & Co. , Certified Public Accountants, is included in
this report.
wish to express my appreciation to the members of the Finance Department without whose dedicated efforts this
report would not be possible. In addition, I would express my appreciation to you and the City Council for the
' continuing support and interest in planning and conducting the fiscal affairs of this city in a responsible and
progressive manner.
Respectfully submitted,
-�Aa,A 9.
Frank B. Ar�ello
Director of Finance
3
CITY OF HUNTINGTON BEACH
ELECTED OFFICIALS '
City Council
Donald A. MacAllister Mayor ,
Robert P. Mandic, Jr. Mayor Pro Tem
Ruth S. Bailey Councilperson
Ruth E. Finley Councilperson '
Ronald R. Pattinson Councilperson
John A. Thomas Councilperson
Clancy F. Yoder Councilperson '
Other
Gail Hutton City Attorney '
Warren G. Hall City Treasurer
Alicia M. Wentworth City Clerk '
Departments of the City '
Floyd G. Belsito City Administrator
Frank B. Arguello Director of Finance
James Palin Development Services Director '
Michael Zambory Director of Public Works
Walter W. Johnson Library Director
Vincent G. Moorhouse Community Services Director '
Raymond C. Picard Fire Chief
Earle W. Robitaille Police Chief
Edward Thompson Personnel Director
e
4
PEAT. MARIVICK. MITCHELL & CO.
CERTIFIED PUBLIC ACCOUNTA_N""TS
' 660 NEW PORT CENTER DRIVE
NEW PORT BEACH,CALIFORNIA 92660
The Honorable City Council of
the City of Huntington Beach
We have examined the financial statements of the various funds and account groups of the City of Huntington Beach
for the year ended June 30, 1979 (Exhibits A through GG, on Pages 6 through 63) , as listed in the table of contents.
Our examination was made in accordance with generally accepted auditing standards and, except for the matters
discussed in the second paragraph below, included such tests of the accounting records and such other auditing
procedures as we considered necessary in the circumstances.
As explained in Note 1 of notes to financial statements , the City has not maintained adequate detailed records
of its general fixed assets and those fixed assets of the Water Utility Fund. As a result of such incomplete
records , we were unable to satisfy ourselves, by appropriate audit tests or other means, as to the reasonableness
of the amounts recorded as fixed assets in either the General Fixed Assets Group of Accounts or the Water Utility
Fund.
Because of the materiality of amounts recorded as property, plant and equipment in the General Fixed Assets Group
of Accounts , we are unable to express our opinion on the accompanying financial statements of the General Fixed
' Assets Group of Accounts. In our opinion, except for the matters discussed in the preceding paragraph, relative
to the Water Utility Fund, the aforementioned financial statements present fairly the financial position of the
various funds and General Long Term Debt Group of Accounts of the City of Huntington Beach at June 30, 1979 and the
' results of operations of the various funds and changes in financial position of the Water Utility Fund,
Meadowlark Golf Course Fund and Internal Service Fund - Self Insurance for the year then ended in conformity with
generally accepted accounting principles applied on a basis consistent with that of the preceding year.
4AW
' September 14, 1979
' 5
CITY OF HLiVTINGTON BEACH
'
COMBINED BALANCE SHEET - ALL FUNDS AND ACCOUNT" GROUPS ,
JUNE 30, 1979
Special Internal Debt '
General Revenue Service Service
Assets '
Cash and term deposits $ 6,418,035 10,459,768 3,306, 159 52,526
Accounts receivable, net 35,325 1 ,512 - -
Property taxes receivable-net of reserve for taxes 228,635 -
Notes receivable - 230,706 - -
Interest receivable 138,501 - 47,728 -
Investments at cost which approximate market (Note 5) 189 ,245 - - -
Other receivables - -
Due from other funds 486, 150 505, 136 - -
Due from other governmental units , net 137,446 2,023,448 - 19, 102
Prepaid expenses 99,551 - - - '
Deposits - - - -
Amount available in Debt Service - - - -
Amount to be provided for debt retirement - - - -
p '
Amount to be provided under financing leases (Note 3) - - - -
Leased facilities under financing leases (Note 3) - - - -
Property plant and equipment , net of allowance for depre-
ciation - - - - '
Restricted assets - cash and investments 22,664 - - -
Total assets S 7,755,552 13,220,570 3,353,887 71 ,628 '
See accompanying notes to financial statements .
6
' CITY OF HUNTINGTON BEACH
' COMBINED BALANCE SHEET - ALL FUNDS AND ACCOUNT GROUPS EXHIBIT A
JUNE 30, 1979
General
' Capital Trust General Fixed
Projects Enterprise and Agency Long Term Assets
' 624,614 3,701 ,036 1 ,269,497 - -
- 280,269 - - -
' 52,788 - -
21 ,009 76,507
17,315
15, 179
4,341 - - - -
- 32 ,269 - -
- - - 52,280
- 4,757,720 -
- _ _ 12 ,795,831 -
12,762,795
25,960,710 _ _ 18,563,761
357,286
' 649,964 _ 30,440 l 11122-1285_- 17,605,831 31 ,326,556
7
CITY OF HUNTINGTON BEACH '
GENERAL FUND EXHIBIT D, Continued '
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL
YEAR ENDED JUNE 30, 1979 Excess
of Actual Percentage '
Revenue Over of
Original Revised Actual (Under) Estimate
Budget Change Budget Revenue Estimate Realized '
Revenue from Other Agencies
Trailer coach license fee $ 100,000 100,000 87, 140 (12,860) 87%
Alcoholic beverage fee 70,000 70,000 63,827 (6,173) 91 '
County lifeguard and maintenance 130,000 130,000 125,981 (4,019) 97
Documentary transfer tax 340,000 340,000 321 ,236 (18,764) 95
State oil and gas lease 90,000 90,000 89,142 (858) 99 ,
Federal government 25,000 25,000 20,035 (4,965) 80
Motor vehicle in lieu 2,300,000 2,300,000 2,341 ,592 41 ,592 102
Bagley conservation fund 500 500 - (500) '
Joint Powers - Fire 145,000 145,000 170,304 25,304 118
Injury leave reimbursements 65,000 65,000 70, 172 5, 172 108
State mandated cost reimbursements 68,309 68,309 -
State surplus aid 2, 133,703 2,133,703 2,133,703 - 100 '
Other 20,000 20,000 11 ,023 (8,977) 55
Total revenue from other '
agencies 5,419,203 5,419,203 5,502,464 83,261 102
Charges for Current Services '
Zoning and subdivision 60,000 60,000 30,876 (29,124) 51
Sale of maps and publications 9,000 9,000 10, 103 1 ,103 112
Oil well application fees 10,000 10,000 500 (9,500) 5
Misc. filing and cert. fees 1 ,000 1 ,000 630 (370) 63 e
Plan check fees 205,000 205,000 169,325 (35,675) 83
Engineering and inspection fees 160,000 160,000 144,256 (15,744) 90
Weed abatement 23,000 23,000 25,577 2,577 111 '
Special Police services 35,000 35,000 51 ,035 16,035 146
Recreation fees 130,000 130,000 167,925 37,925 129
Recreation contract 90,000 90,000 152,928 62,928 170
Exemption declarations and resources 11 ,000 11 ,000 5,803 (5, 197) 53 '
Water quality analysis 2,000 2,000 765 (1 ,235) 38
Junior lifeguard program 23,800 23,800 31 ,579 7,779 133
Library service 25,000 25,000 35,080 10,080 140 '
Post reimbursement $ 50,000 50,000 76,157 26, 157 152%
14
CITY OF HUNTINGTON BEACH
' GENERAL FUND EXHIBIT D, Continued
STATEMENT OF REVENUE - ESTIMATED AND ACTUAL
YEAR ENDED JUNE 30, 1979 Excess of Actual Percentage
' Original Revised Actual Revenue Over of Estimate
Charges for Current Services , Budget Change Budget Revenue (Under) Estimate Realized
Continued
Adventureland $ 1 ,000 1 ,000 4,885 3,885 489%
' Certificate of occupancy fees 15,000 15,000 9,588 (5,412) 64
Grading plan check fees 3,000 3,000 2,131 (869) 71
Special fee - Engineering 6,000 6,000 4,307 (1 ,693) 72
' Fire Department reports 300 300 326 26 109
Other 10, 100 10,100 30,014 19,914 297
' Total charges for current
services 870,200 870,200 953,790 83,590 110
' Other Revenue - - -
Sale of property - equipment 25,000 25,000 17,926 (7,074) 72
Sale of surplus real property 33,660 33,660
Sale of merchandise 15,000 15,000 5,528 (9,472) 37
' Discounts earned 6,500 6,500 1 ,049 (5,451 ) 16
Special fees - inspection 5,500 5,500 7,933 2,433 144
Other 6,000 6,000 18,362 12,362 306
' Total other revenue 58,000 - 58,000 84,458 26,458 146
Total general fund revenue 26,377,045 3,330,000 29,707,045 30,561 ,033 853,988 10
' Transfers From Other Funds
Civic Improvement Fund 2,076,100 (2,076,100) -0- - - -
Special Gas Tax Fund 755,000 755,000 740,462 (14,538) 98
' Traffic Safety Fund 540,000 540,000 781 ,425 241 ,425 145
Parking Meter Fund 155,000 155,000 141 ,938 (13,062) 92
Revenue Sharing 9,562 9,562 9,562 100
' Library Service Fund 130,000 130,000 95,583 (34,417) 73
Grant Fund
Total transfers 3,656,100 (2,066,538) 1 ,589,562 _1 ,768,970 i79,408 III
Total general fund revenue and
transfers $30,033, 145 1 ,263,462 31 ,296,607 32,330,003 1 ,033,396 103%
See accompanying notes to financial statements.
15
CITY OF HUNTINGTON BEACH '
GENERAL FUND '
STATEMENT OF APPROPRIATIONS, EXPENDITURES AND ENCUMBRANCES
YEAR ENDED JUNE 30, 1979
Appropriations Expenditures '
Personal Maintenance
Original Revised Services and Capital
Budget Change Budget Cost Operation outlay ,
Administrative
City Council $ 43,187 256 43,443 26,008 11 ,455
Non-Departmental 3,636,457 2, 138,718 5,825,175 4,543,825 '
Administration 979,913 45, 137 1 ,025,050 775,868 1554,2533 38,963
Civic Promotion 38,918 17,469 56,387 809 43,014
Total Administrative 4j698,475 2,251 ,580 6,950,055 802,685 4.752,547 �8.963 '
Community Services ,
Planning 650,000 7, 185 657, 185 524,209 19,015
Library 1 ,123,300 107,949 1 ,231 ,249 786,649 283,685 6,890
Recreation and Parks 1 ,709,000 58,549 1 ,767,549 1 ,295,657 327,339 6,424
Public Works 4,603,921 402,886 5,006,807 3,363,165 1 .139,69 34,670 '
Total Community Services 8,086,221 576,569 8,662,790 5,969,680 1 ,769,308 47,984
Public Safety '
Fire 5,200,000 526,024 5,726,024 5,290,921 340,320 31 ,047
Police 99 200 090 31lJ] , 660 9,511 ,760 8,537,685 609,867 13,598
Harbors and Beaches 1 ,107;79 64,�60 1 ,172,349 898,942 196,436 481 '
Building 859,780 2,430 862,210 772,950 16,918 298
Total Public Safety 16,367,569 904,774. 17,272,343 15,500,498 1 , 163,541 45,424
Support
Treasurer 1 ,388,000 9,723 1 ,397,723 140,316 1 ,212,582 21
Attorney 355,000 21 ,904 376,904 290,312 83,579 62 '
Clerk 108,700 2,494 111 ,194 91 ,538 15,809
Personnel 183,000 36,500 219,500 134,635 59,003 211
Finance 334,800 26,340 361 , i4o 350,843 (3, 155)
Total Support 2,369,500 96,961 2,466,461 1 ,007,644 1 ,367,8.18 294
Total General Fund Direct $31 ,521 ,765 3-829,884 35,351 ,649 23,280,507 �,n5�,�14 132,665 '
Costs
16
CITY OF HUNTINGTON BEACH
' GENERAL FUND EXHIBIT E
STATEMENT OF APPROPRIATIONS, EXPENDITURES AND ENCUMBRANCES
YEAR ENDED JUNE 30, 1979
' =ncumbrances
Total Excess of Appropriations Percentage
Outstanding Expenditures and Over (Under) Expenditures of Appropriations
' Encumbrances mEncumbrances and Encumbrances Used
37,463 5,980 86%
' 143,782 4,687,607 1 , 137,568 80
53,677 1 ,022,761 2,289 100
8,744 52,567 3,820 93
' 206,203 5,800,398 1 , 149,657 84
' 15,589 558,813 98,372 85
108,890 1 , 186, 114 45, 135 96
60,584 1 ,690,004 77,545 96
' 412,936 4,9502040 56,767 99
597,999 8,384,971 277,819 97
66,536 5,728,824 (2,800) 100
204,825 9,365,975 145,785 98
29,834 1 , 125,693 46,656 96
6,767 796,933 65,277 92
' 307,962 17,017,425 254,918 98
10,374 1 ,363,293 34,430 97
' 3,413 377,366 (462) 100
1 ,442 108,789 2,405 98
167 194,016 25,484 88
' 600 348,288 12,852 g6
15,996 2,391 ,752 74,709 97
' 1 , 128,160 33,594,546 1 ,757,103 95%
17
CH '
CITY OF HUNTINGTON BEACH
GENERAL FUND '
STATEMENT OF APPROPRIATIONS, EXPENDITURES AND ENCUMBRANCES
YEAR ENDED JUNE 30, 1979
Appropriations Expenditures ,
Personal Maintenance
Original Revised Services and Capital
Budget Change Budget Cost Operation Outlay ,
Total General Fund '
direct costs $ 31 ,521 ,765 3,829,884 35,351 ,649 23,280,507 9,053,214 132,665
See accompanying notes to financial statements. '
18
CITY OF HUNTINGTON BEACH
' GENERAL FUND EXHIBIT E, Continued
STATEMENT OF APPROPRIATIONS, EXPENDITURES AND ENCUMBRANCES
YEAR ENDED JUNE 30, 1979
' Encumbrances
Total Excess of Appropriations Percentage
Outstanding Expenditures and Over (Under) Expenditures of Appropriations
' Encumbrances Encumbrances and Encumbrances Used
1 , 128, 160 33,594,546 1 ,757,103 95%
1
1
19
CITY OF HUNTINGTON BEACH '
SPECIAL REVENUE FUNDS '
COMBINED BALANCE SHEET
JUNE 30, 1979
Special Library
Total Gas Tax Service Sewer '
Assets
Cash and term deposits $ 10,459,768 2,031 ,123 2,057,394
Accounts receivable, net 1 ,512 1 ,512 '
Interest receivable 230,706 68,809 59,563
Due from other governmental units , net 2,023,448 984,556
Due from other funds 505, 136 4,404 491 ,000
$ 13,220,570 3,088,892 - 2,609,469 '
1
Liabilities , Reserves and Fund Balance
Liabilities : '
Cash overdraft $ 922,491
Accrued payroll 74,672
Accounts payable 260,478
Deposits 1 ,548 1 ,035 '
Due to other funds 573,714 1 ,563
Deferred revenue 14,960 14,960
Total liabilities 1 ,847,863 1 ,035 - _ 16,523
Encumbrances outstanding 2,586,855 1 ,443,494 34,631
Reserves:
Other 78,226
Total reserves 78,226 - - - '
Fund balance (deficit)
Unappropriated 8,572,681 1 ,644,363 — 2,558,315
Appropriated - developer deposits 134,945
Total fund balance 8,707,626 _ 1 ,644,363 2,558,315 '
See accompanying notes to financial $ 13,220,570 3,088,892 - 2,609,463
statements. 20 '
' CITY OF HUNTINGTON BEACH
' SPECIAL REVENUE FUNDS EXHIBIT F
COMBINED BALANCE SHEET
JUNE 30, 1979
' Park
Planned Federal Federal Acquisition
Local Revenue Manpower Other and Traffic Parking
' Drainage Sharing Grant Grants Development Safety Meter
2,244,684 1 ,550,355 2,576,212
t 45,333 42,490 14,511
858,934 103,808 76, 150
5,990 3,742 _
2,296,007 1 ,596,587 858,934 103,808 2,590,723 76,150 -
' 821 ,897 100,594
71 , 197 3,475
27,440 199,782 32,245 1 ,011
' 513
491 ,000 5,001 76, 150
491 ,000 27,440 1 ,092,876 136,314 _ 6,525 76, 150 -
' 161 ,371 633,219 314, i4o
31 ,226 47,000
' 31 ,226 - - - 47,00-0 - -
' = 1 ,477,465 935,928 (233,942) (32,506) 2,223,058 -
134,945
1 ,612,410 935,928 (233,942) (32,506) 2,223,058 - -
' 2,296,007 1 ,596,537 858,934 103,808 2,590,723 76, 150
21
CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS '
COMBINED STATEMENT OF- CHANGES IN FUND BALANCE
YEAR ENDED JUNE 30, 1979
1
Special Civic Equipment Library
Total Gas Tax Improvement Replacement Service '
Fund balance (deficit) at July 1 , 1978 $ 9,662,695 3,028,697 592,074 500,065
Additions : '
Excess (deficiency) of revenues over
expenditures and encumbrances (1 , 183,822) (1 ,430,841 )
Cancellation of July 1 , 1978 reserve for '
encumbrances 1 ,308,595 46,507
Transfer from general fund 21 ,859
Total fund balance and additions 9,809 ,327 1 ,644,363 592,074 500,065
Deductions:
Transfer to capital projects fund 500,065 500,065 '
Transfer to general fund 601 ,636 592,074
Fund balance (deficit) at June 30, 1979 $ 8,707,626 1 ,644,363 - -
See accompanying notes to financial statements.
22
CITY OF HUNTINGTON BEACH
' SPECIAL REVENUE FUNDS EXHIBIT G
COMBINED STATEMENT OF CHANGES IN FUND BALANCE
YEAR ENDED JUNE 30, 1979
Park
Planned General Federal Acquisition
Local Revenue Manpower Other and Traffic Parking
' Sewer Drainage Sharing Grant Grants Development Safety Meter
2, 118,013 1 ,624,517 645,521 (117,394) (66,090) 1 ,337,292
424,466 (73,639) 27,991 (152,997) (62, 120) 83,318
' 15,836 61 ,532 271 ,978 36,449 73,845 802,448
21 ,859
' 2,558,315 1 ,612,410 945,490 (233,942) (32,506) 2,223,058 - -
t 9,562
' 2,558,315 1 ,612,410 935,928 (233,942) (32,506) 2,223,058 - -
23
CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS EXHIBIT H '
SPECIAL GAS TAX
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
BUDGET AND ACTUAL '
YEAR ENDED JUNE 30, 1979
Budget Actual '
Original- evise
Budget Change Budget Expenditures Encumbrances Total
Revenue:
Interest income S 160,000 160,000 293,679 '
State tax: Section 2107 755,000 755,000 740,462
Section 2107.5 10,000 10,000 10,000
Section 2106 870,000 870,000 847, 131 '
From Federal government 515,500 515,500
From State of California - 1 ,017,387
From Orange County 909,500 909,500
From other municipalities 16,200 16,200 ,
From other funds 9,700 9,700
From developers 8,000 8,000
Total revenue 3,253,900 - 3,253,900 2,900,659 '
Expenditures and encumbrances:
Transfer to general fund 755,000 755,000 740,462 740,462 '
Capital outlay:
Traffic signals 1 , 166,400 2,442 1 , 168,842 794,815 242,439 1 ,037,254
Street improvements 2,732,500 9,875 2,742 ,375 462,336 1 ,085,094 1 ,547,430 '
Drainage 955,000 955,000 881 ,668 85,090 966,758
Engineering 6,550 6,550 5,760 790 6,550
Other 27,640 27,640 11 ,001 30,045 41 ,046
Total expenditures and
encumbrances 5,608,900 46,507 5,655,407 2,896,042 1 ,443,458 4 ,339,500
Excess (deficiency) of revenue over
expenditures and encumbrances $(2,355,000) (46,507) (2,401 ,507) 1 430 841 '
See accompanying notes to financial statements . ,
24
CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS EXHIBIT la
CIVIC IMPROVEMENT FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
' BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1979
' Budget Actual
Original Revised
Budget Change Budget Expenditures Encumbrances Total
t Revenue:
Interest income $ 50,000 (50,000) -0-
Utility tax - water 200,000 (200,000) -0-
' Utility tax - gas 500,000 (500,000) -0-
Utility tax - telephone 1 ,000,000 (1 ,000,000) -0-
Utility tax - electricity 1 ,580,000 (1 ,580,000) -0-
' Total revenue 3,330,000 (3,330,000) - '
Expenditures and encumbrances :
' Transfer to General Fund 2,076,100 (2,076,100) -0-
Civic Center lease 854,900 (854,900) -0-
Library lease 399,000 (399,000) -0-
' Total expenditures and
encumbrances 3,330,000 (3,330,000) '
' Excess of revenue over expendi-
tures and encumbrances $ -
See accompanying notes to financial statements.
25
CH '
CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS EXHIBIT lb '
LIBRARY SERVICE FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
BUDGET AND ACTUAL '
YEAR ENDED JUNE 30, 1979
Budget Actual
Original Revised '
Budget Change Budget Expenditures Encumbrances Total
Revenue: '
Library Service Fee $ 130,000 130,000 88, 198
Total revenue 130,000 - 130,000 88, 198 '
Expenditures and encumbrances:
Transfer to General Fund 130,000 - 130,000 88, 198 - 88, 198
Excess of revenue over expenditures ,
and encumbrances $ - - - -
See accompanying notes to financial statements. '
26
i
1
CITY OF HUNTINGTON BEACH
' SPECIAL REVENUE FUNDS EXHIBIT J
SEWER FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
BUDGET AND ACTUAL
' YEAR ENDED JUNE 30, 1979
Budget Actual
' Original Revised
Budget Change .Budget Expenditures Encumbrances Total
' Revenue:
Interest income $ 95,000 95,000 205,302
Sewer permits 14o,000 140,000 67,171
Local assessments 80,000 80,000 29,872
' Warner Avenue relief sewer 290,223
Total revenue 315,000 - 315,000 592,568
' Expenditures and encumbrances :
Sunset Beach Sanitary District 5,549 5,549 35,050 35,050
' Pump Station improvements 31 ,759 31 ,759 13,923 11 ,647 25,570
Remote transmitter 1 ,887 1 ,887 1 ,887 1 ,887
Michael Drive storm drain 17,673 17,673 4,879 12,793 17,672
Master plan of sewers 55,000 55,000 41 ,376 8,303 49,679
' Huntington Street sewer 13,000 13,000 39 39
Main Street trunk sewer 2,725 2,725 2,697 2,697
Warner Avenue relief sewer 11 ,062 11 ,062 30,139 30, 139
' Other 470,000 (122,819) 347,181 5,369 5,369
Total expenditures and
encumbrances 470,000 15,836 485,836 133,472 34,630 168, 102
Excess (deficiency) of revenue over
expenditures and encumbrances $ (155,000) (15,836) (170,836) 424,466
' See accompanying notes to financial statements.
27
1
CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS EXHIBIT K ,
PLANNED LOCAL DRAINAGE FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
BUDGET AND ACTUAL ,
YEAR ENDED JUNE 30, 1979
Budget Actual ,
Original Revised
Budget Change Budget Expenditures Encumbrances Total
Revenue: '
Interest income $ 120,000 120,000 219, 140
Local assessments 700,000 700,000 370,224
Total revenue 820,000 - 820,000 589,364 '
Expenditures and encumbrances :
Channel lining - Slater 175,000 (45,000) 130,000 115,082 12,800 127,882 '
Pump Station 8B - Atlanta - 75,557 75,557 72,597 72,597
Delaware SD - Phase 2 - 46, 109 46,109 1 ,942 39,012 40,954
Michael Drive Storm Drain - 81 ,672 81 ,672 76,853 3, 147 80,000 '
Storm Drain Master Plan - 50,000 50,000 41 ,252 7,945 49, 197
NG Engine/Pump/Gear/Drive 175,000 (35,000) 140,000 52,772 84,467 137,239
Gothard/Talbert Storm Drain 300,000 (285,500) 14,500 42 14,000 14,042
Other - 173,694 173,694 141 ,092 141 ,092 '
Total expenditures and
encumbrances 650,000 61 ,532 711 ,532 501 ,632 161 ,371 663,003 '
Excess (deficiency) of revenue
over expenditures and encum-
brances $ 170,000 (61 ,532) 108,468 (73,639)
See accompanying notes to financial statements. '
28
' CITY OF HUNTINGTON BEACH
' SPECIAL REVENUE FUNDS EXHIBIT L
GENERAL REVENUE SHARING FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
' BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1979
Budget Actual
Original Revised
Budget Change Budget Expenditures Encumbrances Total
' Revenue:
Interest income $ 45,000 45,000 148,438
Federal revenue sharing 1 ,430,000 1 ,430,000 1 ,093,610
General revenue sharing-Title II 9,562 9,562 9,562
' Other 434
Total revenue 1 ,475,000 9,562 1 ,484,562 1 ,252,044
' Expenditures and encumbrances:
Fire equipment 104, 140 104, 140 32,871 43,993 76,864
' Fire paramedic equipment 19,426 19,426 6,29 13, 139 19,434
Fire vehicles 201 ,422 (26,301 ) 175,121 69,068 101 , 122 170, 190
Fire building improvements 2 ,000 2,000 2,000 2,000
Police equipment 148,674 148,674 39,521 39,521
' Police vehicles 537,528 (357,425) 18o,103 20,390 155,901 176,291
Police heliport 2 , 00 247,600 14,424 14,424
Public Works equipment 80, 190 80,190 27,577 125 27,702
' Public Works vehicles 18o,035 18o,035 101 ,421 49,75 151 ,173
Public Works shamel ash 106,767 106,767 64,856 39,75� 104,412
Public Works heavy equipment 128,656 128,656 20,724 20,724
' Public Works traffic equipment 5,500 5,500 5,500 5,500
Public Works street 10,500 10,500 7,500 7,500
Public Works other 453,671 (225,261 ) 228,410 29,658 28, 150 57,808
Library books 75,000 75,000 14,736 60,305 75,041
' Library security system 12,000 12,000 262 11 ,990 12,252
Library modification 29,000 29,000 989 6,451 7,440
Library materials 44,865 44,865 38,462 5,201 43,663
Library equipment 272,878 (124,24p) 148,638 -
HBP&R equipment 42,614 42,614 3,093 7,846 10,939
HBP&R Human Services 284,914 (218,339) 66,575 -
29
1
CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS EXHIBIT L, Continued t
GENERAL REVENUE SHARING FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
BUDGET AND ACTUAL ,
YEAR ENDED JUNE 30, 1979
811dget Actual '
Original Revised
Budget Change Budget Expenditures Encumbrances Total
(Expenditures and encumbrances, cont. ) '
HBP&R Senior Center 2,980 2,980 2,526 2,526
HBP&R Gym 26,320 26,320 19,506 6,915 26,421
HBP&R Dock 49,000 49,000 82 82 ,
HBP&R Pier 236,380 (181 ,380) 55,000 23,632 31 ,950 55,582
HBP&R vehicles 19,900 19,900 12,317 763 13,080
HBP&R parking lot 31 ,680 31 ,680 23,437 8,243 31 ,680
Data Processing equipment 73,358 (15,365) 57,993 715 23, 181 23,896 '
Office equipment 5,860 15,347 21 ,207 7,907 4,362 12,269
Vapor recovery system 18,275 18,275 181 181
Miscellaneous capital items 91 ,412 746 92 , 158 1 ,483 550 2,033 ,
Transfers to general fund 9,562 9 ,562 33,425 33,425
Total expenditures and
encumbrances 2, 157,423 262,466 2,419,889 590,834 633,219 1 ,224,053 '
Excess (deficiency) of revenue
over expenditures and encum-
brances $ (682,423) (252,904) (935,327) (27,991 )
See accompanying notes to financial statements .
30
CITY OF HUNTINGTON BEACH
' SPECIAL REVENUE FUNDS EXHIBIT M
FEDERAL MANPOWER GRANT FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
' BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1979
' Budget Actual
Original Revised
Budget Change Budget Expenditures Encumbrances Total
' Revenue:
Title I program $ 789,000 789,000 167,040
Title II program 175,000 175,000 431 ,469
' Title VI program 1 ,157,000 1 ,157,000 1 ,836,907
Summer Youth program 196,259
Other 11261
' Total revenue 2, 121 ,000 - 2,121 ,000 2,632,936
Expenditures and encumbrances:
' CETA Title I program 789,000 4, 173 793, 173 450,958 450,958
CETA Title II program 175,000 23,692 198,692 575,355 575,355
CETA Title VI program 1 , 157,000 8,584 1 , 165,584 1 ,759,620 1 ,759,620
' Total expenditures and
encumbrances 2, 121 ,000 36,449 2,157,449 2,785,933 - 2,785,933
' Excess (deficiency) of revenue over expenditures and encumbrances $ - (36,449) (36,449) 052,997
' See accompanying notes to financial statements.
31
CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS EXHIBIT N '
OTHER GRANTS FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
BUDGET AND ACTUAL ,
YEAR ENDED JUNE 30, 1979
Budget Actual ,
Original Revised
Budget Change Budget Expenditures Encumbrances Total
Revenue: ,
National Science Foundation
Circuit Rider $ 6,750
Juvenile Diversion/Treatment 128,000 128,000 253,204
County Revenue Sharing 57,561 57,561 53,387 '
Housing and Community Development 1 ,259,000 1 ,259,000 665,757
LCP Grant 35,000 35,000 28,373
SET Grant 48,568 48,568 131 ,932 ,
Robbery Suppression and Apprehension 35,000 35,000 130,015
Orange County - Public Docks 35,000 35,000 26,835
Delinquency Program 24,861 ,
Other 6,224
Total revenue 1 ,598, 129 - 1 ,598, 129 1 ,327,338
Expenditures and encumbrances: ,
EDA Grant 35,658 35,658 26,776 26,776
National Science Foundation '
Circuit Rider 3,860 3,860
Juvenile Diversion/Treatment 128,000 (82,922) 45,078 293,860 293,860
Bike Trails 2,823 2,823 2,716 2,716
Housing and Community Development 1 ,249,000 1 , 134, 134 2,383,134 673,022 673,022
SET Program 48,568 14,524 63,092 162,317 162,317
Robbery Suppression and Apprehension 35,000 111 , 110 146, 110 133,050 133,050
LCP Grant 35,000 128,265 163,265 27,165 27, 165 '
Seniors Outreach 1977 4,990 4,990 4,588 4,588
Seniors Outreach Program 53,530 53,530 62, 104 62, 104
Total expenditures and 1
encumbrances 1 ,495,568 1 ,402, 112 2,897,680 1 ,389,458 - 1 ,389 458
Excess (deficiency) of revenue over '
expenditures and encumbrances $ 102,561 0 ,402. 112) (1 ,299,551 ) (62,120)
See accompanying notes to financial statements. 32 '
CITY OF HUNTINGTON BEACH
' SPECIAL REVENUE FUNDS EXHIBIT 0
PARK. A000ISITION AND DEVELOPMENT FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1979
Budget Actual
Original Revised
Budget Change Budget Expenditures Encumbrances Total
Revenue:
' Interest income $ 90,000 90,000 180,583
Subdivision license fee 800,000 800,000 849. 107
Unit lot fee 500,000 500,000 115,226
' Rental income 5,204
From Orange County 50,000
Total revenue 1 ,390,000 - 1 ,390,000 1 ,200, 120
Expenditures and encumbrances :
Park improvements :
Old Town 74,565 7-4,565 75,412 75,412
Main Street 256 256 172 172
Goldenwest Fields 14, 140 14, i40 14, 140 14, 140
Murdy Park 1 ,456 1 ,456 215 215
LeBard Park 65 65 38 38
Perry Park 3,249 3,249 3,144 173 3,317
Gisler Park 4,065 4,065 3,722 3,722
Eader School Park 281 281 281 281
Central Park 162,68o 162,68o 22,893 127,800 150,693
Oak -View Park 30 30 30 30
' Huntington Harbor Park 226 226 226 226
Chris Carr Park 858 858
Marina Park 573,865 573,865 494,687 77,490 572, 177
College View Park 35 35 77 77
' Seabridge Park 1 ,285 1 ,285 1 ,052 1 ,052
Edison Community Park 1 ,583 1 ,583 1 ,556 1 ,556
Arevalos Park 195 195 168 168
Pleasant View Park 17,304 17,304 8,938 6,510 15,448
Hawes Park 26,299 26,299 19,490 6,800 26,290
Sunset Heights $ 150,000 (149,450) 550 -
33
CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS EXHIBIT 0, Continued ,
PARK ACQUISITION AND DEVELOPMENT FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1979
Budget Actual
Original Revised '
Budget Change Budget Expenditures Encumbrances Total
(Expenditures and encumbrances, cont. ) '
Taylor Park $ 160,614 16o,6i4 124,370 34,323 158,693
Davenport Mini Park 201 201
Haven View Park 35 35 67 67
Robinwood Park 20,831 20,831 13,875 5, 100 18,975
Newland Park 30,669 30,669 19,903 8,910 28,813
Talbert Park 100 100 104 104
Lutheran Park 70,000 (60,000) 10,000 10,000 10,000
Lambert Park 60,000 (59,965) 35 161 161
Appraisals 407 407
Park signs 9,800 9,800 930 2,968 3,898 '
Landscape architect 50,000 50 50,050 7,412 43,537 50,949
Bike trails 1 ,887 1 ,887
Recreation center 935 935 936 974
Other 600,000 (34,637) 565,363 (22,492) 218 (22, )
Total expenditures and
encumbrances 930,000 802,448 1 ,732,448 802,662 314, 140 1 , 116,802 '
Excess (deficiency) of revenue over
expenditures and encumbrances $ 460,000 (802,448) (342,448) 83,318 Q
See accompanying notes to financial statements .
34
CITY OF HUNTINGTON BEACH
' SPECIAL REVENUE FUNDS EXHIBIT P
TRAFFIC SAFETY FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
' BUDGET AND ACTUAL
YEAR ENDED JUNE 30, 1979
Budget Actual
' Original Revised
Budget Change Budget Expenditures Encumbrances Total
' Revenue:
Traffic fines $ 540,000 540,000 781 ,425
' Total revenue 540,000 - 540,000 781 ,425
Expenditures and encumbrances :
Transfer to General Fund 540,000 - 540,000 781 ,425 - 781 ,425
' Excess of revenue over expenditures
and encumbrances $ - - - -
1
' See accompanying notes to financial statements.
35
CITY OF HUNTINGTON BEACH
SPECIAL REVENUE FUNDS EXHIBIT Q '
PARKING METER FUND
STATEMENT OF REVENUE, EXPENDITURES AND ENCUMBRANCES
.BUDGET AND ACTUAL ,
YEAR ENDED JUNE 30, 1979
Budget Actual
Original Revised ,
Budget Change Budget Expenditures Encumbrances Total
Revenue: '
Parking meters:
Commercial $ 18,000 18,000 14,869
Residential 12,000 12,000 12,851
Pacific Coast Highway 125,000 125,000 114,218 '
Total revenue 155,000 — 155,000 141 ,938
Expenditures and encumbrances : '
Transfer to General Fund 155,000 — 155,000 141 ,938 — 141 ,938
Excess of revenue over expenditures t
and encumbrances $ - - -
See accompanying notes to financial statements .
1
36
CITY OF HUNTINGTON BEACH
INTERNAL SERVICE FUND - SELF INSURANCE EXHIBIT R
BALANCE SHEET
JUNE 30, 1979
' Assets
Current assets :
' Cash and term deposits $ 3,306 159
Interest receivable 47,728
$ 3,353,887
Liabilities and Retained Earnings
Current liabilities :
' Due to other funds $ 3,458
Accrued payroll 702
Accounts payable 12,209
Liability insurance claims 552,280
' Workmen 's compensation claims 570,928
Total liabilities 1 ,139,577
' Retained earnings
Appropriated for future insurance claims 750,000
' Unappropriated 1 ,464,310
Total retained earnings 2,214,310
' $ 3,353,887
See accompanying notes to financial statements .
37
CITY OF HUNTINGTON BEACH '
INTERNAL SERVICE FUND - SELF INSURANCE EXHIBIT S '
STATEMENT OF REVENUE, EXPENSE AND RETAINED EARNINGS
YEAR ENDED JUNE 30, 1979
Revenues : '
Workmen 's compensation contributions from other funds $ 860,443
Liability contributions from other funds 765,824 ,
Interest income 209,597
Total revenues 1 ,835,864
Expenses : '
Liability insurance claims 552,280
Workmen's compensation claims 298,305 '
Contractual services 219,808
Disability payments 111 ,571
Personal service cost 23,781
Travel costs 493 '
Insurance 6,088
Other 574
Total expenses 1 ,212,900 ,
Net income S 622,964 ,
Retained earnings at July 1 , 1978, as previously reported $ 1 ,019,297
Add:
Net income 622,964 ,
Amount reclassified from reserve 572,049
Retained earnings at June 30, 1979 S 2,214,310
See accompanying notes to financial statements.
38
' CITY OF HUNTINGTON BEACH
INTERNAL SERVICE FUND - SELF INSURANCE EXHIBIT T
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED JUNE 30, 1979
Sources of Working Capital :
' Current operations :
Net income $ 622,964
' Increase in working capital $ 622,964
Changes in Components of Working Capital were as follows :
' Increase (decrease) in current assets:
Cash and term deposits $ 1 ,401 ,603
Interest receivable 41 ,582
Due from other governmental agencies (1 , 127)
' Total increase in current assets 1 ,442,058
' Decrease (increase) in current liabilities :
Due to other funds (3,458)
Accrued payroll (331 )
' Accounts payable (12, 193)
Liability insurance claims (523,455)
Workmen 's compensation claims (279,657)
Total increase in .current liabilities (819,094)
Increase in working capital $ 622,964
See accompanying notes to financial statements.
' 39
CITY OF HUNTINGTON BEACH
DEBT SERVICE FUNDS EXHIBIT U '
COMBINED BALANCE SHEET
JUNE 30, 1979
1955 Water Bond 1970 Park Bond '
Interest and Interest and
Total Redemption Fund Redemption Fund
Assets ,
Cash and term deposits $ 52,526 52,526
Due from other governmental units , net of '
allowance for delinquent property taxes 19, 102 1 ,416 17,686
$ 71 ,625 53,942 17,686 ,
Liabilities and Fund Balance (Deficit)
Liabilities - cash overdraft $ 19,348 - 19,348
Fund balance (deficit) 52,280 53,942 (1 ,662) '
$ 71 ,628 53,942 17,686
See accompanying notes to financial statements. '
40
CITY OF HUNTINGTON BEACH
' DEBT SERVICE FUNDS EXHIBIT V
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND FUND BALANCE
YEAR ENDED JUNE 30, 1979
' 1955 Water Bond 1970 Park Bond
Interest and Interest and
' Total Redemption Fund Redemption Fund
Fund balance (deficit) at July 1 , 1978 $ 33,407 51 ,965 (18,558)
' Revenue:
Property taxes 523,619 38,828 484,791
' Total revenue 523,619 38,828 484,7g1
Expenditures:
Redemption of matured bonds 210,000 35,000 175,000
Interest on bonds 294, 187 1 ,750 292,437
Other 559 101 458
' Total expenditures 504,746 36,851 467,895
Excess of revenue over expenditures 18,873 1 ,977 16,896
' Fund balance (deficit) at June 30, 1979 $ 52,280 53,942 0 ,662)
See accompanying notes to financial statements.
41
CITY OF HUNTINGTON BEACH
CAPITAL PROJECTS FUNDS EXHIBIT W '
COMBINED BALANCE SHEET
JUNE 30, 1979
Special 1955 Water t
Capital Bond
Total Outlay Construction
Assets
Cash $ 624,614 547,304 77,310
Interest receivable ` 21 ,009 21 ,009
Due from other entities 4,341 4,341__
649,964 572,654 77,310 '
Liabilities , Reserves and Fund Balance
Encumbrances 2,662 2,662
Unappropriated fund balance 647,302 569,992 77,310
$ 649,964 572,654 77,310
See accompanying notes to financial statements .
42
CITY OF HUNTINGTON BEACH
CAPITAL PROJECTS FUNDS EXHIBIT X
COMBINED STATEMENT OF REVENUE, EXPENDITURES, ENCUMBRANCES AND FUND BALANCE
YEAR ENDED JUNE 30, 1979
' Special 1955
Capital Bond
Total Outlay Construction
' Fund balance at July 1 , 1978 $ 77,310 - 77,310
' Revenue:
Interest revenue 69,921 69,921
Cancellation of July 1 , 1978 reserve for en-
cumbrances 5,093 5,093
Transfer of Equipment Replacement Fund Balance 500,065 500,065
Total revenue 575,079 575,079 -
Expenditures and encumbrances 5,087 5,087
Excess of revenue over expenditures 569,992 569,992 -
Fund balance at June 30, 1979 $ 647,302 569,992 77,310
' See accompanying notes to financial statements.
1
43
CITY OF HUNTINGTON BEACH
ENTERPRISE FUNDS EXHIBIT Y '
COMBINED BALANCE SHEET
JUNE 30, 1979
Water '
Utility Meadowlark Golf
Total Fund Course Fund ,
Assets
Current assets :
Cash and term deposits $ 3,7012036 3,625,239 75,797
Accounts receivable: '
Trade, net of allowance of $17, 143 280,269 280,269
Other 17,315 17,315
Deposits 32,269 32,269 ,
Interest receivable 76,507 75, 106 1 ,401
Due from other funds 15, 179 15,179
Total current assets 4, 122,575 4,045,377 77, 198
Property, plant and equipment, net of allowance '
for depreciation 25,960,710 22,829,910 3,130,800
Assets restricted as to use - cash with
fiscal agent 357,286 357,286 '
$ 30;440,571 27,232,573 3,207,998 '
See accompanying notes to financial statements .
44
CITY OF HUNTINGTON BEACH
ENTERPRISE FUNDS EXHIBIT Y, Continued
COMBINED BALANCE SHEET
JUNE 30, 1979
' Water
Utility Meadowlark Golf
Total Fund Course Fund
Liabilities, Reserves , Contributions and
' Retained Earnings Deficit
Current liabilities payable from current assets) :
Accounts payable $ 885, 108 885, 108
' Customer deposits 245,239 245,239
Accrued interest payable 46,325 46,325
Accrued expenses 19,832 19,832
Current installment of long term note payable 15,763 15,763
(Note 7)
Current installment of bonds payable (Note 6) 130,000 130,000
Current liabilities (payable from restricted assets) :
' Matured interest payable 20,062 20,062
Accrued interest payable 14,925 14,925
Total current liabilities 1 ,377,25 1 ,315, 166 62,088
Long term note payable, net of current installment
' (Note 7) 1 ,901 ,910 1 ,901 ,910
Bonds payable in future years net of current install-
ment (Note 6) 2,030,000 2,030,000
Total liabilities 5,309, 164 3,345, 166 1 ,963,998
Reserve for revenue bond retirement 194,924 194,924
Contributions:
In aid of construction 15,121 ,693 15, 121 ,693
From general fund 1 ,359,932 92,608 1 ,267,324
Total contributions 16,481 ,625 15,21 ,301 1 ,2 7,32_
Retained earnings (deficit) 5 5 7 , 1 (23,324)
$ 30,440,571 27,232,573 3,207,998
45
CITY OF HUNTINGTON BEACH
WATER UTILITY FUND EXHIBIT Z '
STATEMENT OF REVENUE AND EXPENSES
YEAR ENDED JUNE 30, 1979
Operating Revenue:
Metered water sales $ 4,826,624
Municipal water sales 126,990
Fire hydrant rentals 61 ,478
Acreage fees 16,838 '
Tract fees 43,226
New services 46,�52
Other water services 46,595
Total operating revenue 5, 168,003
Operating Expenses :
Source of supply 703,280
Pumping expense 1 , 167, 138 '
Water treatment 25,630
Transmission and distribution 312,619
Administrative and general 691 ,906 '
Contributions to general fund in lieu of taxes 748,880
Depreciation 650,000 _
Total operating expenses 4.2 99,,45�
Operating income 868,550
Nonoperating income:
Interest income 329,310
Other 42,578
Total nonoperating income 371 ,888 '
Total operating and nonoperating income 1 2 0 3
Nonoperating Expense
Bond interest 89,633
Other 4,338
Total nonoperating expense 93,971
'
Net income
See— no notes tofinancial statements . 46 $ 1 , 1 6, 7
CITY OF HUNTINGTON BEACH
WATER UTILITY FUND EXHIBIT AA
STATEMENT OF CHANGES IN RETAINED EARNINGS
YEAR ENDED JUNE 30, 1979
Retained earnings at July 1 , 1978 $ 7,331 ,715
Add:
' Net income 1 , 146,467
Total balance and additions 8,478, 182
Retained earnings at June 30, 1979 $ 8,478, 182
' See accompanying notes to financial statements.
i
47
CITY OF HUNTINGTON BEACH
WATER UTILITY FUND EXHIBIT BB
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED JUNE 30, 1979
Sources of Working Capital :
Current operations :
Net earnings $ 1 , 146,467 '
Items which do not require an outlay of working capital :
Depreciation 650,000
Working capital provided from operations 1 ,796,467 ,
Increase in reserve for revenue bond retirement 19,672
Total working capital provided 1 ,816,319 '
Disposition of Working Capital : '
Additions to fixed assets 1 , 175,918
Increase in assets restricted as to use - cash with fiscal agent 30,089
Decrease in long term bonds payable 145,000
Total working capital used 1 ,351 ,007 '
Increase in working capital $ 465, 132
Changes in Components of Working Capital were as follows:
Increase (decrease) in current assets : '
Cash and term deposits $ 731 ,166
Accounts receivable, trade (net) 23,561
Accounts receivable, other (net) 9,717
Interest receivable 66,727
Due from other funds 15, 179
Total $ 846,350
48
CITY OF HUNTINGTON BEACH
' WATER UTILITY FUND EXHIBIT BB, Continued
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED JUNE 30, 1979
' Changes in Components of Working Capital , Continued
Decrease increase in current liabilities :
' Accounts payable $ (278,972)
Customer deposits (82,441 )
Accrued expenses (6,763)
Accrued interest payable 650
' Matured interest payable (3,692)
Increase in current installment long term debt 00,000)
' Total (381 ,218)
Increase in working capital $ 465, 132
' See accompanying notes to financial statements.
1
' 49
CITY OF HUNTINGTON BEACH
MEADOWLARK GOLF COURSE FUND EXHIBIT CC '
STATEMENT OF REVENUE AND EXPENSES
YEAR ENDED JUNE 30, 1979
Revenue: t
Lease revenue $ 150,000
Interest income 4,725 '
Total revenue 154,725
Expenditures : '
Interest 135,268
Depreciation 15,760 '
Total expenditures 151 ,028
Net income $ 3,697 '
1
See accompanying notes to financial statements. '
1
50
CITY OF HUNTINGTON BEACH
' MEADOWLARK GOLF COURSE FUND EXHIBIT DD
STATEMENT OF CHANGES IN RETAINED DEFICIT
YEAR ENDED JUNE 30, 1979
' Retained deficit at July ,1 1978 $ 27,021
7,
' Add:
Net income 3.697
' 23 324
Retained deficit at June 30, 1979 $
1
See accompanying notes to financial statements.
51
1
CITY OF HUNTINGTON BEACH
MEADOWLARK GOLF COURSE FUND EXHIBIT EE '
STATEMENT OF CHANGES IN FINANCIAL POSITION
YEAR ENDED JUNE 30, 1979
Sources of Working Capital : '
Net income $ 3,697
Ite^s which do not require an outlay of working capital '
Depreciation 15,760
Working capital provided from operations 19,457 '
Disposition of Working Capital :
Payment of principal portion of notes payable 15,763 '
Increase in working capital $ 3,694 '
Changes in the components of working capital were as follows:
Increase in current assets '
Cash 3,324
Accounts receivable 1 ,360
Due from general fund 41
Total increase in current assets 4,7�5 '
( Increase) Decrease in current liabilities : '
increase in current portion of notes payable (1 ,031 )
Total increase in current liabilities __(1 ,031 )
Increase in working capital $ 3,694
See accompanying notes to financial statements. '
52
1
CITY OF HUNTINGTON BEACH
' TRUST AND AGENCY FUNDS EXHIBIT FF
COMBINED BALANCE SHEET
JUNE 30, 1979
' Employee
Special Deferred Improvement
Total Deposit Compensation Act
' Assets
Cash and term deposits S 1 ,269,497 220,940 1 ,042, 113 6,444
' Notes receivable 52,788 52,788
Total assets $ 1 ,322,285 220,940 1 ,094,901 6,444
Liabilities and Fund Balance
Liabilities:
' Refundable deposits $ 220,940 220,940
Bond principal and interest
payable 6,444 6,444
' Total liabilities 227,384 220,940 - 6,444
Fund balance 1 ,094,901 - 1 ,094,901 -
$ 1 ,322,285 220,940 1 ,094,901 6,444
See accompanying notes to financial statements.
' 53
CITY OF HUNTINGTON BEACH
TRUST AND AGENCY FUNDS EXHIBIT GG '
COMBINED STATEMENTS OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
YEAR ENDED JUNE 30, 1979
Employee ,
Special Deferred Improvement
Total Deposit Compensation Act
Fund balance at July 1 , 1978 $ 842,218 - 842,218 - t
Add: '
Interest earned 85,791 85,791
Contributions received 207,457 - 207,457 '
Total additions and fund balance $ 1 , 135,466 1 , 135,466 -
Less : '
Paid to participants in employee
deferred compensation plan 40,565 40,565 '
Total deductions 40,565 - 40,565 -
Fund balance at June 30, 1979 $ 1 ,094,901 - 1 ,094,901
See accompanying notes to financial statements.
54 ,
CITY OF HUNTINGTON BEACH
' NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1979
' Note 1 Summary of Significant Accounting Policies
' Description of Funds and Account Groups
The basic accounting and reporting entry in government is a "fund." A fund is defined as an independent
' fiscal and accounting entity with a self-balancing set of accounts recording cash and/or other resources
together with all related liabilities , obligations, reserves , and equities which are segregated for the
purpose of carrying on specific activities or attaining certain objectives in accordance with special
' regulations , restrictions or limitations. Because a clear distinction should be made between the accounts
relating to current assets and liabilities and those related to fixed assets and long term liabilities,
a self balancing "group of accounts" is utilized. The types of funds and account groups used and their
respective definitions are as follows :
' Funds
a) The General Fund - to account for the City's ordinary operations which are financed from taxes and
other general revenues and to account for all financial transactions not properly accounted
' for in another type of fund.
b) Special Revenue Funds - to account for the proceeds from specific revenue sources (other than
special assessments or to finance specified activities,as required by law or administrative
' regulation.
c) Internal Service Funds - to account for financing and providing goods and services by one department
to other departments of the City.
d) Debt Service Funds - to account for the payment of interest and principal of general obligation long
' term debt.
e) Capital Project Funds - to account for the financial resources used for the acquisition of capital
facilities other than those financed by special assessment and enterprise funds.
' f) Enterprise Funds - to account for the financing of services to the general public where all or
most of the costs involved are financed through charges to users of such services.
g) Trust and Agency Funds to account for resources held by a governmental unit as trustee or agent for
individuals , private organizations, and other governmental units.
' Account Groups
' a) General Fixed Assets Group of Accounts - to account for the general fixed assets of the City other
than those accounted for in the enterprise or trust funds.
b) General Long Term Debt Group of Accounts - to account for the general obligation long term debt of
' the City..
55
CITY OF HUNTINGTON BEACH '
NOTES TO FINANCIAL STATEMENTS, Continued '
Note 1 Summary of Significant Accounting Policies, Continued
Basis of Accounting ,
The accrual basis of accounting is followed for enterprise, internal service fund, and trust and agency
funds. The accrual basis of accounting is defined as that basis of accounting under which revenues are '
recorded when earned and expenditures are recorded as soon as they result in liabilities for benefits
received, not withstanding that the receipt of the revenue or the payment of the expenditures may take
place, in whole or in part, in another accounting period. '
The modified accrual basis of accounting is followed for the general , special revenue, debt service
and capital project funds. The modified accrual basis of accounting is defined as that basis of accounting '
under which expenditures other than accrued interest on general long-term debt are recorded at the time
liabilities are incurred and revenues are recorded when received in cash, except for material and/or availabl
revenues which should be accrued to reflect properly the taxes levied and the revenues earned.
Investments
Investments are stated at cost which approximate market value. Investments generally consist of Federal t
Government-backed securities, bankers acceptances and municipal securities (Note 5) .
Fixed Assets
The general fixed assets of the City, those fixed assets which are not accounted for in the enterprise '
funds , are accounted for in a separate self-balancing group of accounts described as the "General Fixed
Assets Group of Accounts." General fixed assets are not depreciated. General fixed assets acquired by '
the City prior to July 1 , 1973 and during 1977 - 1979 are not recorded in the City's accounting records.
General fixed assets, except municipal improvements other than buildings acquired from July •1 , 1973 through
June 30, 1976 are recorded at cost in the City's accounting records.
The accounts of the water utility fund include $28,399,471 of property and equipment, less $5,569,561
accumulated depreciation. Of these assets , approximately $8,373,000 represent water service assets which
have been donated to the City by independent contractors prior to June 30, 1968. Such donated assets have '
been recorded at values estimated by City personnel . During 1977 and 1978 the City conducted an inventory
of fixed assets of the water utility fund. This inventory resulted in the recording of approximately
$1 ,894,000 in water service assets that were previously unrecorded. The City's evaluation of its water '
utility fixed assets is still continuing. Depreciation of the fixed assets of the Water Utility Fund is
charged to operations using the straight-line method on the estimated useful life of an asset within
a particular group of assets as follows: ,
56
CITY OF HUNTINGTON BEACH
' NOTES TO FINANCIAL STATEMENTS, Continued
Note 1 Summary of Significant Accounting Policies, Continued
' Asset Group _ Life
Production and pumping plant 15-40 years
' Transmission and distribution plant 25-75 years
General plant 10-30 years
Transportation equipment 6-10 years
' The Meadowlark Golf Course property and equipment are stated at cost and are depreciated using the straight-
line method over the estimated useful lives of the assets.
tGeneral Long Term Debt
General long term debt, except for enterprise funds, is not carried with the current liabilities of
a fund, but rather is recorded in a separate self-balancing group of accounts described as the "General
' Long Term Debt Group of Accounts." (Notes 2, 3, and 6) .
Budgetary Control
Budgetary control is an essential element in governmental accounting and reporting. The City adopts
an annual budget and utilizes an "encumbrance system." Under this procedure, obligations or commit-
ments in the form of purchase orders or contracts which are chargeable to an appropriation are treated as
expenditures in the operating statements of the General , Special Revenue, Debt Service and Capital Project
funds
Vacation and Sick Leave
' It is the policy of the City to record the cost of vacation and sick leave when paid. At June 30, 1979
the total unrecorded liability for vacation and sick leave accumulated by City employees was approximately
$1 ,715,887.
Pension Plan
Substantially all City employees participate in the Public Employees Retirement System administered by the
' State of California. This retirement plan covers substantially all City employees. The total pension ex-
pense recognized by the City for the fiscal year ended June 30, 1979 was approximately $3,293,400. At June 30,
1979, the excess of actuarially computed value of vested benefits over available assets , if any, was not
available.
' Deferred Employee Compensation
The City has initiated a deferred compensation plan whereby eligible City employees may elect to defer
a portion of their earnings for Federal income tax purposes, The deferred compensation plan has been
57
CITY OF HUNTINGTON BEACH '
NOTES TO FINANCIAL STATEMENTS, Continued '
Note I Summary of Significant Accounting Policies , Continued
approved by the Internal Revenue Service (Service) . The Service stipulated in its approval that legal '
title to the deferred compensation funds , together with any interest thereon, must rest with the City.
For purposes of financial statement presentation, these deferred compensation funds have been treated as
a separate trust fund of the City. '
Description of Leasing Arrangements
The City has entered into long term sublease agreements with the Huntington Beach Public Facilities Cor-
poration for the rental of the Civic Center complex and the Central Library. Both sublease agreements
provide that the ownership of the facilities, constructed on land owned by the City, will be transferred to
the City, at no additional cost, upon completion of the term of the sublease. Proper accounting under such '
circumstances requires that such lease be accounted for under the financing method. Under the financing
method, the transaction is regarded as an installment purchase, whereby an asset and an associated long
term liability are established. Annual rental payments are treated as reductions of a long term liability. '
Note 2 Equipment Sale - Leaseback Agreements
The City has entered into a sale and leaseback agreement with an outside party for the lease of computer '
peripheral equipment. The agreement is for less than five years duration and represents a financial
arrangement that , in essence, is considered an installment purchase.
At June 30, 1979, the City owed the lessor approximately $33,000. The annual payment under the agreement
approximates 536,000, including interest. The agreement represents a future general obligation of the
City and has been recorded as a liability in the "General Long Term Debt and General Fixed Assets Groups
of Accounts." '
Note 3 Leases
The City has entered into two noncancellable lease and sublease agreements with the Huntington Beach
Public Facilities Corporation (Corporation) for the Huntington Beach Civic Center complex and the Central
Library. Under both agreements , the City is to pay all taxes , insurance, administrative and maintenance
costs. Title to the site improvements will pass to the City at the termination of the leases. The '
City has determined that such leases are capital leases. Under the financing method a transaction is
regarded as an installment purchase, whereby an asset and related liability are recorded. Annual rental
payments are treated as reductions of the liability. Advance rentals from the Corporation received by ,
the City for lease of the site upon which the facilities are constructed are recorded as deferred rental
income in the General Fund and are being amortized over the terms of the sublease.
A description of each lease agreement is as follows: '
58
CITY OF HUNTINGTON BEACH
NOTES TO FINANCIAL STATEMENTS, Continued
Note 3 Leases , Continued
' a) Civic Center
The City has entered into a noncancellable lease and sublease agreement with the Corporation for
the Huntington Beach Civic Center. The City has leased the Civic Center site to the Corporation
' for �350,000 advance rental . The term of the lease is from January 15, 1976 to one week after
the termination of the sublease.
' The Corporation has subleased the civic center site and improvements to the City for $854,900 annual
base rental . The sublease commenced July 1 , 1974 for a term of '30 years or until all debts of the
Corporation related to the civic center have been discharged, whichever comes first.
' b) Central Library
The City has entered into a noncancellable lease and sublease agreement with the Corporation for the
Central Library. The City has leased the site to the Corporation for $300,000 advance rental . The
' term of the lease is from September 1 , 1972 to one week after termination of the sublease.
The Corporation has subleased the library site and improvements to the City for $399,000 annual
' base rental . The sublease commenced February 15, 1957 for a term of -30 years or until all debts
of the Corporation related to the library have been discharged, whichever comes first.
Note 4 Commitments
' The City has entered into the following agreements :
' a) In 1967, the City entered into an agreement for the lease of water storage capacity in the San
Joaquin Reservoir for a term of 50 years at an annual rental of $100,000 for the first ten years,
$95,000 per year for the next ten years , -$90,000 per year for the next seven years, and !�10,000 per
year through the remaining term of the lease. The City will hold no ownership interest in the San
' Joaquin Reservoir at the conclusion of the lease.
b) In 1969, the City entered into an agreement with the Huntington Beach Parking Authority for the
lease of certain parking facilities. The term of the lease is -24 years or until all of the Parking
Authority's 1968 revenue bonds have been retired. Annual base rental payments under the lease agree-
ment are $170,050. Ownership of the parking facility will always remain with the Parking Authority.
' c) In June, 1974, the City leased a park site from the Ocean View School District for a term of five
years. The City may cancel the agreement at the end of any budgetary year. If the City makes all
lease payments, title to the property will pass to the City. Annual rentals under the agreement
aggregate .$64,875. Due to its insignificance, the City has elected not to capitalize this financing
lease.
' 59
CITY OF HUNTINGTON BEACH '
NOTES TO FINANCIAL STATEMENTS, Continued
Note 4 Commitments, Continued '
Minimum aggregate rental commitments under the above agreements are as follows : ,
Year Amount
1980 $ 265,050
1981 265,050 ,
1982 265,050
1983 264,050
1984 264,050 '
1985-1989 1 ,310,250
1990-1994 880, 150
1995-1999 50,000 '
Remainder S 70,000
The City has entered into agreement with contractors which generally provide for possible reimburse-
ment to the contractors , of costs incurred in constructing water, sewer, and drainage facilities. '
The extent of such reimbursement shall generally be limited to subsequent fees which are collected
from other users of the facilities which are not used to provide improvement to the facilities.
The City follows the practice of recognizing fees as revenue as they are collected and charges sub-
sequent payments to expenditures as they are made. '
Note 5 Investments in Marketable Securities '
A summary of the City' s marketable securities at June 30, 1979 is as follows:
Approx. '
Interest Principal Market
Description Rate Maturity Amount Cost Value
General Fund ,
Huntington Beach Public Facilities
Corporation Leasehold Mortgage
Bonds , First and Second Issue 5.55% 1988-1998 $100,000 79,434 85,700 '
City of Huntington Beach 1970 Park
Bonds 6.0 1980 25,000 24,509 22,800
Huntington Beach Parking Authority
1968 Parking Revenue Bonds 5-5.25 1984-1998 100,000 85,302 90.900
Total Investments $225,000 189.245 199.400
60 '
CITY OF HUNTINGTON BEACH
' NOTES TO FINANCIAL STATEMENTS, Continued
' Note 6 Outstanding Indebtedness
' A summary of bonded indebtedness outstanding as of June 30, 1979 is as follows:
Bonds
Bonds Matured Bonds
' Date of Years of Rate of Amount of Outstanding During Outstanding
Issue Bonds Maturity Interest Orig. Issue June 30, 1978 Year June 30, 1979
General Obligation Bonded
Debt Group
1955 Water Bond 1955 1956-1962 5.50% $ 230,000 -0- -0- -0-
' 1963-1976 3.00 490,000 -0- -0- -0-
1977-1980 2.00 140,000 105,000 35,000 . 70,000
Total 1955 water Bond 860,000 105,000 35,000 70,000
1970 Park Bond 1974 1971-1972 5.00 225,000 -0- -0- -0-
' 1973-1974 5.25 255,000 -0- -0- -0-
1975-1977 5.50 440,000 -0- -0- -0-
1978-1983 5. 75 1 , 150,000 985,000 175,000 81o,000
1984-1995 6.00 3,930,000 3,930,000 -0- 3,930,000
' Total 1970 Park Bond 6,000,000 4,915,000 175,000 4,740,000
' Total general obligation bonded debt $ 6,86o,000 5,020,000 210,000 4,810,000
61
CITY OF HUNTINGTON BEACH ,
NOTES TO FINANCIAL STATEMENTS, Continued ,
Note 6, Outstanding Indebtedness, Continued
Bonds '
Matured-
Bonds Purchased Bonds
Date of Years of Rate of Amount of Outstanding During Outstanding
Issue Bonds Maturity Interest Orig. Issue June. 30, . 1978 Year June 30, 1979 ,
Revenue Bonds
Water Utility Fund
1963 Water Revenue Bond 1963 1963-1974 4. 75% $ 700,000 -0- -0- --0-
1975-197d 3.25 460,000 120,000 120,000 -0-
1979-1981 3.30 400,000 400,000 -0- 400,o00
1982-1983 3.4o 300,000 295,000 -0- 295,000 '
1984-1993 3.50 1 ,89o,000 1 ,48o,000 15,000 1 ,465,000
Total Revenue '
Bonds (a) (b) $ 3,750,000 2295000 135,000 2160 000
Less current portion 130,000
Long term portion 2,030,000 '
(a) The water revenue bonds do not represent a general liability of the City of Huntington Beach.
(b) At June 30, 1979 , there were $1 ,950,000 authorized but unused 1963 water revenue bonds. '
Payable Meadowlark Golf Course Note Pa '
Note 7 Y
In 1975, the City entered into an agreement to purchase the Meadowlark Golf Course from an independent ,
party for a total purchase price of $3,200,000. Terms of the agreement called for an initial down payment
of $ 928,000 with the remaining $2,272,000 being in the form of long-term 7% note.
At June 30, 1979 the balance of the note was $1 ,917,673. A schedule of yearly principal and interest pay- '
ments is as follows :
Year Amount ,
1980-2001 $ 150,000
2002-2008 200,000 '
2009 115,703
62
' CITY OF HUNTINGTON BEACH
NOTES TO FINANCIAL STATEMENTS, Continued
Note 7, Meadowlark Golf Course Note Payable, Continued
In connection with the above purchase, the City has leased the golf course operation to an outside party
for 34 years at a minimum lease income of $150,000 annually through 2007 and a percentage of income based
upon gross revenues for the years 2008 and 2009.
' As part of the initial payment of $928,000, the County of Orange contributed $600,000 upon the City's
guarantee to use general City funds when and if necessary to ensure that Meadowlark Golf Course will be
' maintained as open space.
The note payable is collateralized by future revenues and does not represent a general obligation of
the City.
' Note 8 Litigation
' At June 30, 1979, the City was defendant in several legal actions arising in the normal course of busi-
ness. In several suits, the City was insured for public liability and property damage through various
insurance policies aggregating up to $10,000,000 coverage for each occurrence. In the remainder of the
suits, the City is self-insured. In the opinion of the City Attorney, the actual impact to the City
' upon resolution of the outstanding claims is insignificant and the self insurance fund is adequate.
' Note 9 Accounting for Self Insurance
In 1979, the City elected to account for the self insurance fund as an internal service fund. In prior
' years, this fund was carried as a special revenue fund.
Note 10 Grant Funds
' The Manpower Grant fund and the Other Grants fund have accumulated deficits of $233,942 and $32,506,
respectively. These deficits can be primarily attributed to expenditures incurred, but may or may not
be fully reimbursed under the various grants. Any amounts not fully reimbursed from the various grant
' funds will be reimbursed from the General Fund.
63
CITY OF HUNTINGTON BEACH
STATEMENT OF GENERAL FUND REVENUES - OTHER THAN PROPERTY TAXES SCHEDULE I
July 1 , 1969 through June 30, 1979
Fines Use of From Charges for '
Fiscal Other Licenses & & For- Money & Other Current Other
Year Taxes Permits feitures Property Agencies Services Revenue
1969 s 1 ,938,841 742,853 65,007 295,504 1 ,053,917 816,856 40,607 '
1970 2,256,982 809,773 79, 169 541 ,283 1 , 101 ,752 774,850 159,339
1971 2,569,358 772,347 90, 197 510,099 1 ,332,432 348,834 51 , 129 t
1972 3, 115,977 1 ,269,922 109,851 596,857 1 ,373, 140 409,013 59,200
1973 3,800,728 1 ,997, 105 126,651 651 ,746 1 ,589,742 701 ,760 112, 172
1974 4,386,433 1 ,834,580 152,769 682,395 1 ,830,265 615,379 32,325 ,
1975 5,723,995 2,236,292 125,698 767,233 1 ,774, 192 639,064 41 ,427
1976 5,722, 103 2,588,932 135,216 907,470 2,040,207 325,912 49,277
1977 6,785,656 2,817,209 214,808 1 ,050,938 2,567,992 942,760 48,714 '
1978 7,953,048 2,653,129 216,362 1 ,415,212 3,076,250 938, 182 99,600
1979 S 12,825,591 2,485,540 224,026 1 ,814, 115 5,502,464 953,790 84,458
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CITY OF HUNTINGTON BEACH
1 STATEMENT OF EXPENDITURES AND ENCUMBRANCES FOR GENERAL FUND SCHEDULE II
July 1 , 1969 through June 30, 1979
' Public Safety Services
Fiscal Administrative Services Community Services Y
Year Expenditures Encumbrances Expenditures Encumbrances Expenditures Encumbrances
1
1 1969 $ 1 ,730,483 1 ,767 2,522, 111 89,304 3,820, 166 65, 171
1970 2,346,300 156,241 3,806, 162 206,532 4,728,247 198,844
1971 2,328,085 630 4,016,357 228,289 5,410,562 41 ,583
1 1972 1 ,676,714 12,781 4,736,550 105,091 6,966,277 84,117
1973 1 ,330,792 16,811 5,978,271 1 ,244,452 8,489,612 153,610
1974 1 ,494,073 6,601. 6,601 ,075 36, 110 9,541 ,847 21 ,679
1975 2,802,270 14,501 6,977,233 190,358 10,858,325 117,564
1 1976 3, 194,089 201 ,011 6,653,560 250,073 12,233,405 203,783
1977 2,664, 478 153,201 7,747,535 435,898 141074,326 317,631
1978 3,635,719 161 ,464 8,673,505 447,231 14,953,652 223, 169
1979 $ 5,594, 195 206,203 7,786,972 597,999 16,709,463 307,962
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CITY OF HUNTINGTON BEACH
i
STATEMENT OF EXPENDITURES AND ENCUMBRANCES FOR GENERAL FUND , CONTINUED SCHEDULE II , '
July 1 , 1969 through June 30, 1979 Continued
Support Services Total General Fund ,
Expenditures Encumbrances Expenditures Encumbrances
355,440 7, 139 8,428,200 163,381
444,095 3,879 11 ,324,803 565,496 '
544,078 4,456 12,299,082 274,957
724,723 8,283 14, lo4,264 210,272
720,979 13, 158 16,519,654 1 ,428,031 t
906,900 5,966 18,543,895 70,356
813,411 5,367 21 ,451 ,239 327,790
1 ,247,564 7,616 23,328,618 662,483
2,493,343 47,288 26,979,687 954,018
1 .814,454 22.280 29,077,330 854, 144
$ 2,375,756 15 ,996 32,466,386 1 , 128, 160
66
CITY OF HUNTINGTON BEACH
STATEMENT OF ASSESSED VALUE, DEBT LIMIT AND SCHEDULE III
RATIO OF GENERAL OBLIGATION BONDED DEBT TO ASSESSED VALUE AND PER CAPITA
July 1 , 1969 through June 30, 1979
% Bonded
' Debt to
Fiscal Estimated Total Legal Debt Total General. Legal Assessed Bonded Debt
Year Population Assessed Value Limit (15%) Bonded Debt - Debt Margin Value Per Capita
1969 104, 124 $ 284,033,290 42,604,994 420,000 42, 184,994 . 15 4.03
' 1970 115,960 293,272,790 43,990,919 6,385,000 37,605,919 2. 18 55.06
1971 122,976 339,783,919 50,967,588 1 ,240,000 44,727,588 1 .84 50.74
1972 129,992 370,230,779 55,534,617 6,090,000 49,444,617 1 .64 46.85
1973 143,325 410,283, 199 61 ,542,480 5,930,000 55,612,480 1 .45 41 .37
1974 143,636 442,271 ,658 66,340,749 5,765,000 60,575,749 1 .30 40. 14
1975 146,400 529,973.310 79,495,997 5,590,000 73,905,997 1 .05 38. 18
' 1976 151 ,500 580,623,450 87,093,518 5,410,000 81 ,683,518 .93 35.71
1977 157,800 710,079,235 106,511 ,885 5,220,000 101 ,291 ,885 .74 33.08
1978 161 ,200 854,321 ,745 128, 148,262 •5,020,000 123, 128,262 .59 31 . 14
' 1979 167,500 $ 831 ,783,620 124,767,543 4,810,000 119,957 ,543 .58 28. 72
67
CITY OF HUNTINGTON BEACII
STATEMENT OF TAX DELINQUENCIES AND IMPOUNDS SCHEDULE IV '
July 1 , 1969 through June 30 , 1979
Secured Taxes Unsecured Taxes '
Fiscal Tax Total Delinquency Total Delinauency
Year Rate Total Levy Collections Amount Percent 'Total Levy Collections Amount Percent Impounds ,
1969 $ 1 .45 3,898,311 3,763,889 41 ,777 1 .07% 204,032 201 ,964 2,068 I .ol% 92,645 '
1970 1 . 45 4, 179,522 4,015,842 50,787 1 .22 252, 136 250,534 1 ,602 .63 112,893
1971 1 .45 4,433,058 4 ,316, 156 62,315 1 .41 291 , 311 288,965 2.346 .80 54 ,587
1972 1 .62 5,565,713 5,395,846 59,651 1 .07 432,025 401 ,297 4,628 1 .07 136,322 '
1973 1 .62 6,249,372 6,094,.111 51 ,276 .82 397,216 391 , 186 6,030 1 .51 130,985
1974 1 . 62 6, 703,620 6,499,009 66,654 .99 461 , 181 456,296 4,885 1 .06 137,957
1975 1 .62 8,099,022 7,844,596 74,987 •93 486,545 484, 124 11 , 169 2.30 179,439 '
1976 1 .62 8,852,049 8,587,784 82,622 .93 545,344 516,539 28,798 4.36 186,648
1977 1 .62 9,982 ,983 9,844,450 116,794 1 . 17 549,994 538,370 6,791 1 .23 328,4551
1978 1 .55 12,5637144 12,336,834 186,310 1 .49 7427053 711 ,519 30,534 4. 11 204,883
1979 $ . 1972 5,635,879 5,525, 120 110,759 1 .970 561 ,420 537,307 24, 113 4. 30% 195,202 '
68
' CITY OF HUNTINGTON BEACH
' STATEMENT OF FUTURE GENERAL OBLIGATION BONDED DEBT REQUIREMENTS BY YEAR SCHEDULE V
BASED ON BONDED DEBT
JUNE 30, 1979
Fiscal Year Principal Interest Total
1980 $ 220,000 283,425 503,425
1981 230,000 272,088 502,088
' 1982 210,000 260,525 470,525
1983 220,000 248,450 468,450
1984 235,000 235,800 470,800
1985 245,000 221 ,700 466,700
1986 260,000 207,000 467,000
1987 280,000 191 ,400 471 ,400
' 1988 295,000 174,600 469,600
1989 310,000 156,900 466,900
1990 330,000 138,300 468,300
1991 350,000 118,500 468,500
1992 370,000 97,500 467,500
1993 395,000 75,300 470,300
1994 415,000 51 ,600 466,600
' 1995 445,000 26,700 471 ,700
Total $ 4,810,000 2,759,788 7,569,788
The 1955 Water General Obligation Bonds will be totally paid in August, 1980.
69
CITY OF HUNTINGTON BEACH
STATEMENT OF FUTURE WATER REVENUE BOND REQUIREMENTS BY YEAR SCHEDULE VI ,
BASED ON OUTSTANDING DEBT
JUNE 30, 1979
Fiscal Year Principal Interest Total '
1980 $ 130,000 87,405 217,405
1981 130,000 83, 115 213, 115
1982 140,000 78,660 218,660 '
1983 145,000 71 ,340 216,340
1984 150,000 68,700 218,700
1985 160,000 65,350 225,350 ,
1986 160,000 59,350 219,350
1987 170,000 53,250 223,250
1988 180,000 47,030 227,030 '
1989 180,000 40,000 220,000
1990 190,000 33,075 223,075
1991 200,000 26,250 226,250
1992 210,000 19,075 229,075 '
1993 15,000 788 15,738
Total $ 2, 160,000 733,338 2,893,388
70
' CITY OF HUNTINGTON BEACH
' HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION (a) SCHEDULE V11
STATEMENT OF BONDED DEBT
YEAR ENDED JUNE 30, 1979
Date Years Bonds Bonds Bonds
' of of Rate of Original Outstanding Matured Outstanding
Description Bonds Maturity Interest Issue July 1 , 1978 During Year June 30, 1979
Civic Center Jan. , 1972 1975-1982 7.00% $ 2,010,000 1 ,130,000 260,000 870,000
' Leasehold Mort- 1983 5. 70 330,000 330,000 -0- 330,000
gage Bonds, 1984-1996 5.50 7,040,000 7,005,000 -0- 7,005,000
First Issue 1997-1998 5.00 1 ,720,000 1 ,675,000 -0- 1 ,675,000
' Total _ 11 , 100,000 10,140,000 260,000 _ 9,880,000
' Central Library Feb. , 1972 1975-1983 7.00% 1 ,220,000 885,000 130,000 755,000
Leasehold Mort- 1984 5.90 18o,000 180,000 -0- 180,000
gage Bonds, 1985 5.40 190,000 190,000 -0- 190,000
Second Issue 1986-1988 5.50 640,000 640,000 -0- 640,000
' 1989-1991 5.60 770,000 770,000 -0- 770,000
1992 5.70 290.000 290,000 -0- 290,000
1993-1995 5.75 965,000 965,000 -0- 965,000
1996-1997 5.00 745,000 745,000 -0- 745,000
Total 5,000,000 4,665,000 130,000 4,535,000
' Total bonded debt $16, 100,000 14,805,000 390,000 14.415,noo
' (a) The above schedule has been included herein for informational purposes only. The Huntington Beach Public
Facilities Corporation is an independent entity. Accordingly, the obligations of the Public Facilities
Corporation do not constitute an obligation of the City.
' 71
CITY OF HUNTINGTON BEACII
HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION SCHEDULE VIII ,
STATFMENT OF FUTURE DEBT REQUIREMENTS BY YEAR
BASED ON BONDED DEBT (a)
JUNE 30, 1979
Fiscal Civic Center Issue Library Issue Total
Year Principal Interest . Total Principal Interest Total Principal Interest Total '
1980 $ 270,000 552,910 822,910 135,000 256,592 391 ,592 405,000 809,502 1 ,214502 ,
1981 290,000 534,010 824,010 140,000 249,967 386,967 430,000 780,977 1 ,210:977
1982 310,000 513,710 823,710 150,O00 236,817 386,817 460,000 750,527 1 ,210,527
1983 330,000 492,010 822,010 160,000 225,967 385,967 490,000 717,977 1 ,207,977 '
1984 360,000 473,200 833,200 170,000 214,417 384,417 530,000 687,617 1 ,217,617
1985 380,000 453,400 833,400 18o,000 203, 157 383, 157 560,000 656,557 1 ,216,557
1986 400,000 432,500 832,500 190,000 192,717 382,717 590,000 625,217 1 ,215,217
1987 430,000 410,500 840,500 200,000 182,o87 382,087 630,000 5922,6656687 1 ,222,6656687
1988 460,000 386,850 846,850 210,000 170,812 380,812 670,000 5i ,%2 1 ,227,%2 '
1989 465,000 360, 175 825, 175 230,000 158,712 388,712 >
1990 530,000 333,225 863,225 240,000 145,667 385,667 770,000 478,892 1 ,248,892
1991 560,000 304,075 864,075 260,000 131 ,667 391 ,667 820,000 435,742 1 ,255,742 ,
1992 600,000 273,275 873,275 270,000 116,827 386,827 870,000 390, 102 1 ,260, 102
1993 640,000 240,275 880,275 290,000 101 ,002 391 ,002 930,000 341 ,277 1 ,271 ,277
1994 680,000 205,075 885,075 305,000 83,968 388,968 985,000 289,043 1 ,274,043
1995 725,000 167,400 892,400 320,000 66,000 386,000 1 ,o45,000 233,400 1278,400 '
1996 775,000_ 126,975 901 ,975 340,000 47,025 387,025 1 , 115,000 174,000 1289,000
1997 830,000 84,075 914,075 360,000 28,250 388,250 1 , 190,000 112,325 1 ,302 ,325 '
1998 845-000 40,325 U5,325 385,000 9,625 394,625 1 ,230,000 49,950 1 ,279 ,950
Total $ 9,880,000 6,383,965 16,263,965 4,535,000 2,818,276 7,353,276 14,415,000 9,202,241 23,617,241
Principal Due: January September
Interest Due: July and January September and March ,
(a) The above schedule has been included herein for informational purposes only. The Huntington Beach Public
Facilities Corporation is an independent entity. Accordingly, the obligations of the Public Facilities '
Corporation do not constitute an obligation of the City.
72 ,
CITY OF HUNTINGTON BEACH
' PARKING AUTHORITY OF THE CITY SCHEDULE IX
OF HUNTINGTON BEACH
STATEMENT OF BONDED DEBT (a)
JUNE 30, 1979
Date Years Bonds Bonds Bonds
of of Rate of Original Outstanding Matured Outstanding
Description Bonds Maturity Interest Issue July 1 , 1978 During Year June 30, 1979
1968 Parking Sept. , 1968 1970-1972 6.00% $ 150,000 -0- -0-
Revenue Bonds 1973-1979 4. 75 470,000 155,000 75,000 80,000
1980-1985 5.00 570,000 570,000 -0- 570,000
1986-1993 5.25 1 , 110,000 1 , 110,000 -0- 1 , 110,000
Total $ 2,300,000 1 ,835,000 75,000 1 ,760,000
' PARKING AUTHORITY OF THE CITY
OF HUNTINGTON BEACH
STATEMENT OF FUTURE DEBT REQUIREMENTS BY YEAR
BASED ON BONDED DEBT
JUNE 30, 1979
Fiscal Year Principal Interest Total
' 1980 $ 80,000 88,675 168,675
1981 85,000 84,650 169,650
1982 85,000 80,400 165,400
1983 90,000 76,025 166,025
' 1984 95,000 71 ,400 166,400
1985 105,000 66,400 171 ,400
1986 110,000 61 ,025 171 ,025
1987 115,000 55,256 170,256
1988 120,000 49,088 169,088
1989 125,000 42,656 167,656
1990 135,000 35,831 170,831
' 1991 140,000 28,613 168,613
1992 150,000 21 ,000 171 ,000
1993 160,000 12,863 172,863
' 1994 165,000 4,331 169,331
Total 73$ 1 ,760,000 778,213 2,538,213
' (a) The above schedules have been included herein for intormational purposes only. The Parking Authority is an indepen-.
dent entity. Accordingly, its obligations are not obligations of the .City.
� CITY OF HUNTIN N BEACH
� PUBLIC FACILITIES CORPORATION
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HUNTINGTON BEACH PUBLIC
' FACILITIES CORPORATION
FINANCIAL STATEMENTS
JUNE 30,1979
(With Accountants' Report Thereon)
1
1 PEAT. MARWICK, -MITCHELL & CO.
CERTIFIED PUBLIC ACCOUNTANTS
1 660 NEWPORT CENTER DRIVE
NEWPORT BEACH,CALIFORNIA 92660
1
The Honorable Board of Directors
1 Huntington Beach Public Facilities Corporation
Huntington Beach, California
1 We have examined the combined balance sheet of the Huntington Beach Public Facilities Corporation as of June 30,
1979 and the related combined statement of earnings and retained earnings and changes in financial position for the
1 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.
1 in our opinion, the aforementioned combined financial statements present fairly the financial position of the
Huntington Beach Public Facilities Corporation at June 30, 1979 and the results of its operations and the changes
in its financial position for the year then ended in conformity with generally accepted accounting principles applied
1 on a basis consistent with that of the preceding year.
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September 14, 1979
1
74 ,
HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION
COMBINED BALANCE SHEET
JUNE 30, 1979
Civic r
Total Center Project Library Project
Assets
Current assets restricted as to use:
Cash held by trustee $ 82 - 82
Time certificates of deposit 963,362 644,768 318,594 ,
Temporary investments in U.S. government
securities, at cost (market : $1 ,550,747) 1 ,628, 1 ]6 1 , 156,878 471 ,238
Accrued interest receivable 41 ,786 21 ,412 20,374
Interproject balances - 5,815 (5;815) ,
Total current assets restricted as to use 2,633,346 1 ,828,873 804,473
Long term leases receivable less unearned
income of $11 ,061 ,307 (Note 3) 12,762,795 8,715,012 4,047,783
Total assets $15,396,141 10,543,885 4,852,256
Liabilities and Retained Earnings
Current liabilities payable from restricted assets:
Accrued interest $ 338,240 253,587 84,653
Current installment of bonds payable (Note 4) 405,000 270,000 135,000 ,
Total current liabilities 743,240 523,587 219,653
Deferred lease income 80,557 80,557 - .
Bonds payable, net of current installment (Note 4) 14,010,000 9,610,000 4,400,000
Total liabilities 14,833,797 10,214,144 4,619,653 ,
Retained earnings 562,344 329,741 232,603
Total liabilities and retained earnings $15,396,141 10,543;885 4,852,256
See accompanying notes to financial statements 75 '
HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION
COMBINED STATEMENT OF EARNINGS AND RETAINED EARNINGS
YEAR ENDED JUNE 30, 1979
' Civic Library
Operating revenue: Total Center Project Project
Interest income:
' Lease payments received $ 1 ,253,900 854,900 399,000
Less portion applicable to principal 275,513 188,665 86,848
978,387 666,235 312, 152
Operating expenses :
Storm drain repair 5,498 5,498 _ -
' Net operating income 972,889 660,737 312,152
Nonoperating revenue:
' Interest earned 205,432 152,901 52,531
Total operating and nonoperating income 1 , 178,321 813,638 364,683
Nonoperating expenses :
Interest expense 805,703 550,167 255,536
Net earnings 372,618 263,471 109, 147
' Retained earnings
at July 1 , 1978 189,726 66,270 123,456
Retained earnings at June 30, 1979 $ 562,344 329,741 232,603
' See accompanying notes to financial statements.
76
HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ,
YEAR ENDED JUNE 30, 1979
Civic Library
Total Center Project Project
Source of funds: '
Funds provided from operations:
Net earnings $ 372,618 263,471 109, 147
Decrease in long term lease receivable 275,513 188,665 86,848
$ 648, 131 452, 136 195..995
Use of funds :
Redemption of bonds payable $ 405,000 270,000 135,000
Decrease in deferred lease income 4,027 4,027 -
Increase in working capital 239,104 178,109 60,995 '
$ 648, 131 452, 136 195,995
Changes in components of working capital :
Increase (decrease) in current assets:
Cash held by trustee $ (464) (546) 82
Time certificates 139, 159 76, 190 62,969
Temporary investment in government securities 100,103 85,995 14, 108
Accrued interest receivable (12,795) (11 ,989) (806)
Interproject balances -0- 20,691 (20,691 ) '
226,003 170,341 55,662
Decrease (increase) in current liabilities :
Accrued interest payable 28, 101 17,768 10,333
Current installment of long-term debt (15,000) (10,000) (5,000)
13, 101 7,768 5.333
Increase in working capital $ 239,104 178, 1o9 60,995
See accompanying notes to financial statements.
77 '
' HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1979
I . Summary of Significant Accounting Policies
The following is a summary of significant accounting policies used by the Huntington Beach Public Facilities
Corporation (Corporation) .
' Basis of Accounting
The accompanying combined financial statements of the Corporation have been prepared using the accrual basis
' of accounting.
Temporary Investments
Investments are stated at cost. Such investments generally consist of Federal Government backed securities
and are not adjusted for amortization of purchase premium or discount, which has been determined to be
' immaterial at June 30, 1979.
Funds
Under the provisionsof the bond indenture agreements, the Corporation is required to maintain separate
accountability for various types of funds the Corporation receives. A description of these funds , which
' have been combined for financial statement presentation, is as follows :
Account Source Use
Reserve Fund Bond proceeds and rental revenue fund Bond principal and interest
Construction Fund Bond proceeds Cost of project
Interest During Construction Bond proceeds First twenty-six months ' interest
Fund on bonds
' 78
HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION '
NOTES TO FINANCIAL STATEMENTS, CONTINUED
I . Summary of Significant Accounting Policies, Continued
Account Source Use '
Rental Revenue Fund City of Huntington Beach rent payments Required transfers to various funds '
and/or other specified purposes
Debt Service Fund Transfers from revenue fund Bond principal and interest
Administrative Expenses Fund Transfers from revenue fund Corporation operating expenses '
Bond Redemption Fund Transfers from revenue fund Call and redemption of bonds,
changes , alterations or additions
to the project, or reimbursement
of any base rent or additional rent '
previously paid by the City of
Huntington Beach
Upon completion of construction, separate rental revenue funds were established to account for all lease and '
other revenues from the City of Huntington Beach for the Civic Center and Library. The separate construction
funds for the Civic Center and Library projects have been left open to pay for improvements and modifications
to the project structures as approved by the Directors of the Corporation. '
Money in the respective rental revenue funds is disbursed as follows: First, to the debt service funds
in amounts sufficient to pay one succeeding principal and two succeeding interest installments ; Second,
amounts , necessary to restore the respective reserve funds to amounts equal to one year' s lease revenue;
Third, administrative expense funds equal to the budgeted administrative expenses of the Corporation;
Fourth, all remaining amounts to the bond redemption funds.
Money accounted for in the bond redemption fund is to be used to correct deficiencies, as may arise, in
the debt service funds , reserve funds or administrative expense funds, respectively. Money remaining after
the minimum requirements of the bond agreements have been met may be used to purchase or redeem outstanding
bonds to make improvements or to reimburse the City of Huntington Beach for rents paid to the Corporation.
2. Organization
The Huntington Beach Public Facilities Corporation was incorporated under the laws of the State of California
as a non-profit corporation on November 25, 1970. The Corporation was formed for the primary purpose of
financing and constructing a civic center complex and central library for the City of Huntington Beach.
The constructed civic facilities have been leased to the City of Huntington Beach under long term lease
agreements. (Note 3) .
79 '
' HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION
NOTES TO FINANCIAL STATEMENTS, CONTINUED
3. Leases
The Corporation has entered into two lease and sublease agreements with the City of Huntington Beach.
The terms of the leases are summarized as follows:
' a) Civic Center lease - The Corporation has entered into a lease and sublease agreement with the City
of Huntington Beach for the Huntington Beach Civic Center. The site upon which the Civic Center
is constructed is owned by the City and has been leased to the Corporation for an advance rental
of $350,000. The term of the lease is from January 15, 1972 to one week after the termination
of the sublease described in the next paragraph.
' The Corporation has subleased the Civic Center site and civic buildings constructed thereon, to
the City for an annual rental of $854,900. This sublease commenced July 1 , 1974 and extends for
a term of the earlier of: (a) thirty (30) years or (b) until the bonded indebtedness incurred
by the Corporation to construct the Civic Center has been paid.
b) Central Library lease - The Corporation has entered into a lease and sublease agreement with the
City of Huntington Beach for the Central Library. The site upon which the Central Library is
' constructed is owned by the City and has been leased to the Corporation for an advance rental of
$300,000. The term of the lease is from September 1 , 1972 to one week after the termination of
the sublease described in the next paragraph.
The Corporation has subleased the Central Library site and building constructed thereon to the City
for an annual rental of $399,000. This sublease commenced February 15, 1975 and extends for a term
of the earlier of: (a) thirty (30) years or (b) until the bonded indebtedness incurred by the Corpora-
tion to construct the Central Library has been paid.
Under both agreements, the City is required to pay all taxes , insurance, administrative and maintenance
' costs associated with the facilities under lease. At the conclusion of the lease agreements title to the
leased facilities will be transferred to the City at no additional cost. Proper accounting treatment
requires that such lease be treated as a financing lease. Under the financing method, the excess of aggre-
gate rentals over the cost of the leased property is generally designed to compensate the lessor for the
use of funds invested. Accordingly, at June 30, 1979, leases receivable from the City of Huntington Beach
totaling $12,762,795 net of unearned interest, for the Civic Center and Central Library facilities have been
reflected in the financial statements . The site advances are included in the long term leases receivable
and are amortized over the term of the leases.
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HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION '
NOTES TO FINANCIAL STATEMENTS, CONTINUED
4. Outstanding Indebtedness
A summary of the Corporation's bonded indebtedness as of June 30, 1979 is as follows: '
Maturities
Date Interest Original Outstanding Annual Period ,
Bond issue issue rate issue June 30, 1979 requirements covered
Civic Center:
Leasehold Varying amounts '
Mortgage Bonds , January 5.00 - from $200,000 to
First Issue (a) 1972 7.00% $ 11 , 100,000 $ 9,880,000 $890,000 1975-1998
Central Library:
Leasehold Varying amounts '
Mortgage Bonds, February 5.00 - from $105,000 to
Second Issue (b) 1972 7.00% 5,000,000 4,535,000 $385,000 1975-1997
$ 16, wo,00O $ 14,415,000 ,
a) The $11 , 100,000 principal amount of Leasehold Mortgage Bonds , First Issue (Bonds) are dated January 15, 1972
and have been issued as coupon bonds in $5,000 denominations. The Bonds, which are serial in nature, mature
annually on January 15 of each year. Interest is payable semiannually on January 15 and July 15 of each year.
Bonds maturing on or prior to January 15, 1982 are generally not subject to call and redemption prior to their ,
final maturity date. Bonds maturing on or after January 15, 1983 (a principal amount of $9,090,000) are
subject to call and redemption at the option of the Corporation, in total or in part, on January 15, 1982
or on any interest payment date thereafter. Call price of the bonds shall be an amount equal to the prin-
cipal amount plus a premium equal to 1/4 of 1 percent of the principal amount redeemed, plus 1/4 of 1 percent
for each year or fraction of a year from the redemption date to the maturity date of the bonds. In no
event shall the premium exceed 4 1/2 percent. '
b) The $5,000,000 principal amount of Leasehold Mortgage Bonds , Second Issue (Bonds) are dated September 1 , 1972
and have been issued as coupon bonds in $5,000 denominations. The Bonds, which are serial in nature, mature
annually on September 1 of each year. Interest is payable semiannually on March 1 and September 1 of each year.
Bonds maturing on or prior to September 1 , 1982 are generally not subject to call and redemption prior to
their fixed maturity date. Bonds maturing on or after September 1 , 1983 (a principal amount of $3,950,000) ,
are subject to call and redemption at the option of the Corporation, in total or in part, on September 1 , 1982
81
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HUNTINGTON BEACH PUBLIC FACILITIES CORPORATION
1 NOTES TO FINANCIAL STATEMENTS,. CONTINUED
4. Outstanding Indebtedness, Continued
1 or on any interest payment date thereafter. Call price of the Bonds shall be an amount equal to the prin-
cipal amount redeemed plus a premium equal to 1/4 of 1 percent of the principal amount redeemed, plus
1 1/4 of 1 percent for each year or fraction of a year from the redemption date to the maturity date of the
Bonds . In no event shall the premium exceed 4 percent.
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� CITY OF HUNTINGTON BEACH
1 PARKING AUTHORITY
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' PARKING AUTHORITY OF THE
CITY OF HUNTINGTON BEACH
' FINANCIAL STATEMENTS
JUNE 30, 1979
' (With Accountants' Report Thereon)
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PEAT. MARWICK. MITCHELL & CO
CERTIFIED PUBLIC ACCOUNTANTS
GGO \EWPORT CENTER DRIVE
\EIti'PORT BEACII,CALIFORNIA 92660
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The Honorable Members of the Parking Authority
City of Huntington Beach
Huntington Beach, California
' We have examined the balance sheets of the Parking Authority of the City of Huntington Beach as of June 30, 1979
and 1978, and the related statements of earnings and retained earnings and changes in financial position for the
years then ended. Our examinations were 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.
In our opinion, the aforementioned financial statements present fairly the financial position of the Parking
Authority of the City of Huntington Beach at June 30, 1979 and 1978, and the results of its operations and
the changes in its financial position for the years then ended, in conformity with generally accepted accounting
' principles applied on a consistent basis.
September 14 1
p 979
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PARKING AUTHORITY OF THE CITY OF HUNTINGTON BEACH
BALANCE SHEET '
JUNE 30, 1979 AND 1978
Assets : 1979 1978 I
Current assets :
Cash and term deposits $ 137,503 137,503
Receivables :
Due from general fund 2,330 - ,
Accrued interest receivable 9, 165 14,631
Total receivables 11 ,495 14,631 ,
Total current assets 148,998 152, 134
Assets restricted as to use: '
Investments , at cost which approximates market value (Note 3) 631 ,548 572, 107
Cash with fiscal agent 6,537 -
Total restricted assets 638,085 572, 107 '
Fixed assets , at cost: '
Land 371 ,065 371 ,065
Improvements 1 .694,089 1 ,694,089
Less allo„rance for depreciation (677,901 ) (605,217) '
Total fixed assets 1 ,387,253 1 ,459,937
Total assets $ 2,174,336 2.184, 178 '
Liabilities and Retained Earnings:
Current liabilities:
Accrued interest payable $ 30,078 30,078
Current installment of bonds payable (Note 3) 80,000 75,000
Matured interest payable from restricted assets 6,537 - '
Total current liabilities 116,61r, 105,078
Bonds payable, net of current installment (Note 3) 1 ,680,000 1 ,760,000 '
Total liabilities 1 ,796,615 1 ,865,078
Retained earnings 377,721 319, 100 '
Total liabilities and retained earnings $ 2, 174,336 2,184, 178 '
See accompanying notes to financial statements. 84
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PARKING AUTHORITY OF THE CITY OF HUNTINGTON BEACH
' STATEMENT OF EARNINGS AND RETAINED EARNINGS
YEARS ENDED JUNE 30, 1979 AND 1978
' 1979 1978
Operating revenue:
Rentals (Note 2) $ 170,050 170,050
' Operating expenses:
Depreciation 72,684 72,684
' Net operating income 97,366 97,366
Nonoperating revenue:
' Interest earned 53_,611 35,345
Total operating and nonoperating income 150,977 132,711
' Nonoperating expenses :
Interest expense 92,356 93,569
' Net earnings 58,621 39, 142
Retained earnings, beginning of year 319, 100 279,958
' Retained earnings , end of year $ 377.721 319,100
See accompanying notes to financial statements.
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PARKING AUTHORITY OF THE CITY OF HUNTINGTON BEACH
STATEMENTS OF CHANGES IN FINANCIAL POSITION '
YEARS ENDED JUNE 30, 1979 AND 1978
1979 1g78
Sources of working capital
Net earnings $ 58,621 39,142
Items which do not use working capital :
Depreciation of land improvements 72,684 72,684 ,
Working capital provided by operations 131 ,305 111 ,826
Decrease in restricted assets - 121 ,310 '
Decrease in working capital 14,673 11 ,914
$ 145,978 245,050
Uses of working capital :
Decrease in bonds payable $ 80,000 75,000 '
Reduction in deferred lease income 170,050
Increase in restricted assets 65,978 -
$ 145,978 245,050 '
Changes in comnponents of working capital : ,
Decrease ( increase) in current assets :
Cash and term deposits $ - (6, 146)
Receivables 3, 136 15,291 '
3, 136 9, 145
Increase (decrease) in current liabilities :
Accrued interest payable (2,231 )
Matured interest payable 6,537 -
Current installment of bonds payable 5,000 5,000 '
11 ,537 2,769
Decrease in working capital $ 14,673 11 ,914
See accompanying notes to financial statements . '
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PARKING AUTHORITY OF THE CITY
' OF HUNTINGTON BEACH
NOTES TO FINANCIAL STATEMENTS
' JUNE 30, 1979
' (1 ) Summary of Significant Accounting Policies
Basis of Accounting
' The accompanying financial statements of the Parking Authority of the City of Huntington Beach (Parking
Authority) have been prepared using the accrual basis of accounting.
' Fixed Assets and Depreciation
Fixed assets are recorded at cost. Land improvements are depreciated using the straight-line method over
the term of the lease (23 years) with the City of Huntington Beach (City) .
' Investments
Investments are stated at cost. Such investments consist of Federal government backed securities and bank
' time certificates of deposit (see Note 3) .
Lease
The Parking Authority leasing operations consist principally of the leasing of its parking facilities to the
City of Huntington Beach. The Parking Authority lease with the City of Huntington Beach is classified as an
' operating lease.
' (2) Operations
The Parking Authority is an independent public agency established in 1967 under provisions of the Parking
Law of 1949 . The primary purpose of the Parking Authority is to provide off-street parking facilities
' for the City of Huntington Beach. The Parking Authority leases its parking facilities to the City under
a lease agreement which requires minimum annual rental payments of $170,050 through July 1 , 1993.
' The Parking Authority obtained the funds to acquire and construct these facilities through the issuance of
$2,300,000 of revenue bonds which are secured by the rental payments received from the City. The rental is
payable annually on July 1 . Rental income is to be used for bond principal and interest requirements.
' Excess funds , if any, including interest earned thereon, which are not required to meet scheduled principal
and interest payments and which are not required by the bond indenture agreement to be established as a
reserve may be: (1 ) used to finance additions and improvements to the parking facility, or (2) applied as
' a credit against annual rental payments from the City.
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PARKING AUTHORITY OF THE CITY
OF HUNTINGTON BEACH ,
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(2) Operations , Continued '
Under the terms of the lease agreement dated September 30, 1968 between the Parking Authority and the City
the lease is to terminate after all of the 1968 revenue bonds are retired or provision for retirement has
been made. All costs of maintenance and operation have been assumed by the City. The City must also pay, '
in t7e form of additional rent, all taxes , assessments , insurance, fees and other expenses of the Parking
Authority. At the termination of the lease, the Parking Authority will retain title to the parking facility.
(3) Bonded Debt I
su-r.ary of the Parking Authority bonded debt is as follows: '
Bonds Bonds
Matured Matured
Amount of Bonds During Bonds During Bonds
Date Years of Rate of Original Outstanding Fiscal Outstanding Fiscal Outstandi
Description of Issue Maturity Interest Issue 6/30/77 1978 6/30/78 1979 6/30/79
1968 Parking September, 1970-72 6.00% S 150,000
Revenue Bonds 1968 1973-79 4. 75 470,000 225,000 70,000 155,000 75,000 80,000'
1980-85 5.00 570,000 570,000 - 570,000 - 570,000
1986-93 5.25 1 , 110,000 1 , 110,000 - 1 , 110,000 - 1 , 110,000
$2 ,300,000 1 ,905,000 70,000 1 ,835,000 75,000 1 ,760,000
Interest is payable semiannually each year on March 1 and September 1 . Provisions of the bond agreement
provide for the establishment of three special funds as follows :
(a) Bond Service Fund - All revenues received by the Parking Authority from the lease of the parking ,
facility are placed in the bond service fund. Money in this fund is used to pay bond principal
and interest. Amounts received in excess of the amount required to meet principal and interest
requirements may be transferred to the reserve fund or working capital fund. Under certain cir-
cumstances such excess funds may be used to finance additions and improvements or reduce the annuj
rental due from the City.
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PARKING AUTHORITY OF THE CITY
1 OF HUNTINGTON BEACH
NOTES TO FINANCIAL STATEMENTS, CONTINUED
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1 (3) Bonded Debt , Continued(b) Reserve Funds - An amount equal to one-half the maximum annual debt service must be set aside to
be used to pay principal and interest coming due in the event there is insufficient money in the
1 bond service fund and may be applied to the final payments of principal and interest.
(c) Working Capital Fund - After provision has been made for payment of bond principal and interest
1 and an appropriate reserve fund balance has been established , excess money, if any, remaining in
the bond service fund may be transferred to the working capital fund to be used to pay the adminis-
trative expenses of the Parking Authority and maintain the working capital fund' s cash at a balance
of at least $1 ,500.
1 At June 30, 1979, the Parking Authority maintained the following investments pursuant to the terms of the
bond agreement (see Note 1 ) :
1979 1978
Bond Service Fund $ 542,965 483,794
1 Reserve Fund 88,583 88,313
$ 631 ,548 572,107
1 Bonds maturing on and after September 1 , 1980 are subject to call and redemption at the option of the
Parking Authority as a whole or in part, in inverse order of maturity and by bond number within a single
' maturity on September 1 , 1979 and on any interest payment date thereafter.
The bonds are redeemable at par value plus accrued interest and a premium equal to 1/4 of 1 percent for each
1 year or portion of a year from the redemption date to the maturity date, up to a maximum of 3 1/2 percent.
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CITY OF HUNTINGTON BEACH
' ANNUAL FINANCIAL REPORT
TABLE OF CONTENTS
1 Exhibit Page
' Letter of Transmittal I
Elected City Officials 4
Departments of the City 4
Accountants ' Report 5
' Financial Statements :
Combined Balance Sheet - All Funds and Account Groups A 6
General Fund:
' Balance Sheet B 10
Statement of Changes in Fund Balance C 11
Statement of Revenue - Estimated and Actual D 12
Statement of Appropriations , Expenditures and Encumbrances E 16
Special Revenue Funds :
' Combined Balance Sheet F 20
Combined Statement of Changes in Fund Balance G 22
Statement of Revenue, Expenditures and Encumbrances -
Budget and Actual :
' Special Gas Tax Fund H 24
Civic Improvement Fund la 25
Library Service Fund Ib 26
' Sewer Fund 1 27
Planned Local Drainage K 28
General Revenue Sharing Fund L 29
Federal Manpower Grant Fund M 31
' Other Grants Fund N 32
Park Acquisition and Development Fund 0 33
Traffic Safety Fund P 35
' Parking Meter Fund Q 36
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CITY OF HTI'N NGTON BEACH '
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ANNUAL FINANCIAL REPORT '
TABLE OF CONTENTS Exhibit Page
Internal Service Fund - Self Insurance
Balance Sheet R 37
Statement of Revenue, Expense and Retained Earnings S 3$
Statement of Changes in Financial Position T 39 ,
Debt Service Funds:
Combined Balance Sheet U 40 '
Combined Statement of Revenue, Expenditures and
Fund Balance (Deficit) V 41
Capital Project Funds: '
Combined Balance Sheets W 42
Combined Statement of Revenue, Expenditures , Encumbrances and ,
Fund Balance X 43
Enterprise Funds:
Combined Balance Sheet y 44 '
Water Utility Fund: ,
Statement of Revenue and Expenses Z 46
Statement of Changes in Retained Earnings AA 47
Statement of Changes in Financial Position BB 48 '
Meadowlark Golf Course Fund:
Statement of Revenue and Expenses CC 50
Statement of Changes in Accumulated Deficit DD 51
Statement of Changes in Financial Position EE 52
Trust and Agency Funds: '
Combined Balance Sheet FF 53
Combined Statement of Changes in Fund Balance GG 54 '
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' CITY OF HUNTINGTON BEACH
ANNUAL FINANCIAL REPORT
TABLE OF CONTENTS
Exhibit Page
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Notes to Financial Statements 55
' Supplemental Information (not covered in accountants ' report)
' Statement of General Fund Revenues - Other than Property Taxes Schedule 1 64
Statement of Expenditures and Encumbrances for General Fund Schedule II 65
Statement of Assessed Value, Debt Limit and Ratio of General Obligation
Bond Debt to Assessed Value and Per Capita Schedule 111 67
' Statement of Tax Delinquencies and Impounds Schedule IV 68
Statement of Future General Obligation Bond Debt Requirements by Year
Based on Bond Debt Schedule V 69
Statement of Future Water Revenue Bond Requirements by Year on Outstanding
Debt Schedule VI 70
Huntington Beach Public Facilities Corporation - Statement of Bonded Debt Schedule VII 71
' Huntington Beach Public Facilities Corporation - Statement of Future Debt
Requirements by Year Based on Bonded Debt Schedule VIII 72
Parking Authority of the City of Huntington Beach Statement of Bonded
Debt Schedule IX 73
' Parking Authority of the City of Huntington Beach - Statement of Future
Debt Requirements by Year Based on Bond Debt Schedule IX 73
City of Huntington Beach Public Facilities Corporation
Accountants ' Report 74
Financial Statements
' Combined Balance Sheet 75
Combined Statement of Earnings and Retained Earnings 76
Combined Statement of Changes in Financial Position 77
' Notes to Financial Statements 78
City of Huntington Beach Parking Authority
' Accountants ' Report 33
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CITY OF HUNTINGTON BEACH ,
ANNUAL FINANCIAL REPORT '
TABLE OF CONTENTS
Exhibit Page '
City of Huntington Beach Parking Authority, Continued
Financial Statements '
Balance Sheet 84
. Statement of Earnings and Retained Earnings 85 ,
Statement of Changes in Financial Position 86
Notes to Financial Statements 87
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