1984-1985 ACFR (July 1 - June 30 Annual Comprehensive Financial Report)CITY OF LA QUINTA
FINANCIAL STATEMENTS
WITH REPORT ON EXAMINATION BY
CERTIFIED PUBLIC ACCOUNTANTS
FOR THE YEAR ENDED JUNE 30, 1985
DIEHL, EVANS AND COMPANY
A PARTNERSHIP OF ACCOUNTANCY CORPORATIONS
CERTrF6EO PUBLIC ACCOUN'T'ANTS
�f
CITY OF LA QUINTA
FINANCIAL STATEMENTS
June 30, 1985
TABLE OF CONTENTS
Accountants' Report
Page
Number
1
Combined Balance Sheet - All Fund Types and Account Groups 2 - 3
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - All Governmental Fund Types 4 - 5
Combined Statement of Revenues, Expenditures and Changes
in Fund Balances - Budget (GAAP Basis) and Actual -
All Governmental Fund Types 6 - 7
Notes to Financial Statements
Financial Statements of Individual Funds:
8 - 13
General Fund:
Comparative Balance Sheet 14
Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget (GAAP Basis) and Actual 15 - 16
Special Revenue Funds:
Combining Balance Sheet 17
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances 18
Federal Revenue Sharing Special Revenue Fund:
Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget (GAAP Basis) and Actual
19
State Gas Tax Special Revenue Fund:
Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget (GAAP Basis) and Actual
20
Traffic Safety Special Revenue Fund:
Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget (GAAP Basis) and Actual
21
Local Transportation Special Revenue Fund:
Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget (GAAP Basis) and Actual
22
Capital Projects Funds:
Combining Balance Sheet 23
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances 24
Redevelopment Project Area Capital Improvement Fund:
Statement of Revenues, Expenditures, and Changes in
Fund Balances — Budget (GAAP Basis) and Actual 25
Traffic Signalization Capital Projects Fund:
Statement of Revenues, Expenditures, and Changes in
Fund Balances — Budget (GAAP Basis) and Actual 26
Police and Fire Facilities Capital Projects Fund:
Statement of Revenues, Expenditures, and Changes in
Fund Balances — Budget (GAAP Basis) and Actual 27
Curb and Gutter Improvement Capital Projects Fund:
Statement of Revenues, Expenditures, and Changes in
Fund Balances — Budget (GAAP Basis) and Actual 28
"WIN G. PETERS, C.P.A.
"DONALD H, PETERSON, C.P.A.
"DONALD E. CALLAHAN, C.P.A.
'L. PETER SCHERER, CRA,
:RODNEY K. MCDANIEL, C.P.A.
'RALPH H. WEINTRAUB, C.P.A.
'PHILIP H. HOLTKAMP, C.P.A.
'THOMAS M. PERLOWSKI, C.P.A.
EDWARD GRODSKY, C.P.A,
ELLIS C. DIEHL, C.P.A. (RETIRED)
BRYN B. EVANS, C.P.A. (RETIRED)
'A PROFESSIONAL CORPORATION
City Council
City of La Quinta
La Quinta, California
DIEHL, EVANS AND COMPANY
A PARTNERSHIP INCLUDING ACCOUNTANCY CORPORATIONS
CERTIFIED PUBLIC ACCOUNTANTS
1910 NORTH BUSH STREET
SANTA ANA, CALIFORNIA 9270(5-2894
(714) S42-4453
December 6, 1985
ACCOUNTANTS' REPORT
OTHER OFFICES AT;
2965 ROOSEVELT STREET
CARLSBAD, CALIFORNIA 92008-2389
(619) 729-2343
120 WEST WOODWARD AVENUE
ESCONDIDO, CALIFORNIA 92025-9990
1619) 741-3141
ONE CIVIC PLAZA, SUITE 265
NEWPORT BEACH, CALIFORNIA 92660
(714) 644-6166
We have examined the combined financial statements of the City of La Quinta as
of, and for the year ended June 30, 1985, as listed in the table of contents.
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.
In our opinion, the combined financial statements referred to above present
fairly the financial position of the City of La Quinta at June 30, 1985 and the
results of its operations for the year then ended, in conformity with generally
accepted accounting principals applied on a basis consistent with that of the
preceding year.
Our examination was made for the purpose of forming an opinion on the combined
financial statements taken as a whole. The combining and individual fund
financial statements listed in the table of contents are presented for purposes
of additional analysis and are not a required part of the combined financial
statements of the City of La Quinta. The information has been subjected to the
auditing procedures applied in the examination of the combined financial
statements and, in our opinion, is fairly stated in all material respects in
relation to the combined financial statements taken as a whole.
—1—
CITY OF LA QUINTA
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1985
ASSETS
Cash and temporary investments (Note 2e)
Due from other governments
Due from other funds
Miscellaneous accounts receivable
General fixed assets (Notes 1f and 3)
Amount to be provided for payment of long-term debt
TOTAL ASSETS
LIABILITIES AND FUND EQUITY
LIABILITIES:
Accounts payable
Accrued expenses
Due to other funds
Compensated absences payable (Notes 1g and 4)
Due to developers
TOTAL LIABILITIES
FUND EQUITY:
Investments in general fixed assets
Unreserved fund balances:
Designated
Undesignated
TOTAL LIABILITIES AND FUND EQUITY
Governmental
Special
General Revenue
$ 1,783,073 $ 93,386
. 206,408 17,797
$ 1,989,481, $ 1111183
$ 268,326✓ $ -
12,187 -
280,513 -
1,708,968 111,183
$ 1,9891 $ 111,183
See accountants' report and notes to financial statements.
-2-
Fund Types
Debt Capital
Service Projects
Account
Groups
General
General
Fixed
Long -Term
Assets
Debt
Totals (Memorandum Only)
ju 'ne 30, _^
1985 1984
$ 347,068 $ 194,928 $ - $ - $ 2,418,455 $ 1,386,139
224,205 98,063
- - - - - 2,108
- - -28,142
73,173 - 73,173 40,173
- 311005 311005 82,015
$ 347,068 $ 194,928 $ 73,173 $$ 3� 05 $ 2,746,838 $ 1,636,640
$ - $ 268,326 $ 144,458
- - - - 12,187 7,682
- - - - - 2,108
31,005 31,005 30,515
- - - - 51,500
- - 31,005 311,518 236,263
- - 73,173 - 73,173 40,173
194,928 - - 194,928
347,068 - - - 2,167,219 1,360,204
$ 347,068 $ 194,928 $ 73,173 $ 31,005 $ 2,746,838 $ 13,6369640
-3-
CITY OF LA QUINTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES
For the year ended June 30, 1985
With comparative totals for the year ended June 30, 1984
General
REVENUES:
Taxes $ 1,191,566
Licenses and permits 790,290
Intergovernmental revenues 177,107
Revenues from use of money or property 151,631
Other revenues 9,280
TOTAL REVENUES 2,319,874
EXPENDITURES:
General government 449,999
Public safety 1,232,554
Street maintenance 299,102
TOTAL EXPENDITURES 1.981.655
EXCESS OF REVENUES OVER EXPENDITURES 338,219
OTHER FINANCING SOURCES (USES):
Operating transfers in 399,590
Operating transfers out (6,464)
TOTAL OTHER FINANCING SOURCES (USES) 393,126
EXCESS OF REVENUES AND OTHER SOURCES OVER
(UNDER) EXPENDITURES AND OTHER USES 731,345
FUND BALANCES - JULY 1, 1984 977,623
FUND BALANCES - JUNE 30, 1985 $ 1,708,968
See accountants' report and notes to financial statements.
-4-
Special
Revenue
191,640
11,646
203,286
203,286
Debt
Service
$ 497,076
497,076
110,009
110,009
387,067
Capital
Projects
79,200
5,467
84,667
11,296
11,296
73,371
Totals (Memorandum Only
June 30,
1935
1984
$ 1,688,642
$ 818,345
869,490
693,182
368,747
373,936
163,277
82,454
14,747
51,856
3,104,903 2,019,773
571,304
1,232,554
299,102
2,102,960
412,011
641,145
82,377
1,135,533
954
-
5,510
406,054
183,007
(286,651)
(39,999)
(72,940)
(406,054)
(183,007)
(285,697)
(39,999)
(67,430)
-
-
(82,411)
347,068
5,941
1,001,943
884,240
193,594
-
188,987
1,360,204
475,964
$ 111,183
$ 347,068
$ 194,928
$ 2,362,147
$ 1,360,204
-5-
CITY OF LA QUINTA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET (GAAP BASIS) AND ACTUAL -
ALL GOVERNMENTAL FUND TYPES
For the year ended June 30, 1985
REVENUES:
Taxes
Licenses and permits
Intergovernmental revenues
Revenues from use of money
or property
Other revenues
TOTAL REVENUES
EXPENDITURES:
General Fund
Budget Actual
$ 877,106
$1,191,566
654,200
790,290
170,677
177,107
80,000
151,631
149,388
9,280
1,931,371 2,319,874
Special Revenue
Variance
Favorable
(Unfavorable) Budget Actual
$ 314,460 $ - $ -
136,090 - -
6,430 156,619 191,640
71,631 10,500 11,646
(140,108) - -
388,503 167,119 203,286
General government
451,692
449,999
1,693 - -
Public safety
1,309,371
1,232,554
76,817 - -
Street maintenance
553,813
299,102
254,711 - -
TOTAL EXPENDITURES
2,314,876
1,981,655
333,221
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES (383,505) 338,219 721,724 167,119 203,286
OTHER, FINANCING SOURCES
(USES):
Operating transfers in -
Operating transfers out -
TOTAL OTHER
FINANCING SOURCES
(USES) -
EXCESS OF REVENUES AND OTHER
SOURCES OVER (UNDER)
EXPENDITURES AND OTHER USES (383,505)
FUND BALANCES - JULY 1, 1984 977,623
FUND BALANCES - JUNE 30,
399,590 399,590 - 954
(6,464) (6,464) - (286,651)
393,126 393,126 - (285,697)
731,345 1,114,850 167,119 (82,411)
977,623 - 193,594 193,594
1985 $ 594,118 $1,708,968 $1,114,850 $360,713 $111,183
See accountants' report and notes to financial statements.
-6-
Fund
Capital Projects Fund
Totals
(Memorandum Only)
Variance
Variance
Variance
Favorable
Favorable
Favorable
(Unfavorable)
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
$ -
$ -
$ -
$ -
$ 877,106
$1,191,566
$314,460
372,125
79,200
(292,925)
1,026,325
869,490
(156,835)
35,021
-
-
-
327,296
368,747
41,451
1,146
-
-
-
90,500
163,277
72,777
-
-
5,467
5,467
149,388
14,747
(134,641)
36,167
372,125
84,667
(287,458)
2,470,615
2,607,827
137,212
-
-
11,296
(11,296)
451,692
461,295
(9,603)
-
-
-
-
1,309,371
1,232,554
76,817
-
-
-
-
553,813
299,102
254,711
-
-
119296
(11,296)
2,314,876
_1,992,951
321,925
36,167
372,125
73,371
(298,754)
155,739
614,876
459,137
954
-
5,510
5,510
-
406,154
406,154
(286,651)
-
(72,940)
(72,940)
-
(366,055)
(366,055)
(285,697)
-
(67,430)
(67,430)
-
39,999
39,999
(249,530) 372,125 5,941
188,987 188,987
366,184 155,739 654,875
- 1,360,204 1,360,204
$(249,530) $561,112 $194,928 $366,184 $1,515,943 $2,015,079
-7-
499,136
$499,136
CITY OF LA QUINTA
NOTES TO FINANCIAL STATEMENTS
June 30, 1985
1. REPORTING ENTITY:
The reporting entity "City of La Quinta" includes the accounts of the City
and the La Quinta Redevelopment Agency (Agency). Although the City and the
Agency are legally separate entities, the La Quinta City Council exercises
oversight responsibility over the Agency. The members of the City Council
also act as the governing body of the Agency, and the City provides loans
and management assistance to the Agency.
The City of La Quinta was incorporated May 1, 1982 and has established a
Council/manager form of government.
The La Quinta Redevelopment Agency was established in November, 1983,
pursuant to the State of California Health and Safety Code, Section 33000.
The primary purpose of the Agency is to encourage private redevelopment of
property and to rehabilitate areas suffering from economic disuse. The
Agency has established one redevelopment project for the purpose of
developing flood control improvements and facilities. The area of the
redevelopment project comprises approximately 17.5 square miles.
Advances from the City to the Agency have been recorded in the accompanying
statements as transfers -in and transfers -out.
As recommended by Statement 3 of the National Council on Governmental
Accounting (NCGA), the City's comparative financial statements as of, and
for the year ended, June 30, 1984 have been presented herein to include
both the City and the Agency. However, prior year comparisons for each
individual fund, other than the general fund, are not presented, since
their inclusion would make the statements unduly complex and difficult to
read.
2. SIGNIFICANT ACCOUNTING POLICIES:
a.- Description of funds and account groups:
The accounts of the City are organized on the basis of fund types and
account groups, each of which is considered a separate accounting
entity with a self -balancing set of accounts.
The following are the types of funds and account groups used:
GOVERNMENTAL FUND TYPES
1. General Fund - accounts for all unrestricted resources except those
required to be accounted for in another fund.
2. Special Revenue Funds - account for the proceeds of specific
revenue sources that are restricted by law or administrative action
to expenditures for specified purposes.
See accountants' report.
go
CITY OF LA QUINTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1985
2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):
a. Description of funds and account groups (Continued):
3. Debt Service Funds - accounts for Agency tax increment revenue
restricted for use to pay debts of the Agency.
4. Capital Projects Funds - account for financial resources used for
acquisition or construction of major capital facilities and
equipment.
ACCOUNT GROUPS
Account Groups are used to establish accounting control and
accountability for the City's general fixed assets and general long-
term debt.
b. Basis of accounting:
Governmental fund types are accounted for using the modified accrual
basis of accounting. Revenues are recognized when they become
"susceptible to accrual", that is, measurable and available to finance
expenditures of the current period. Accrued revenues include property
taxes received within 60 days after year end (see Note 7), sales taxes,
revenue sharing entitlements and earnings on investments. Expenditures
are recorded when the liability is incurred, except that principal and
interest payments on debt from the Agency to the City are recorded when
due.
C. Measurement focus:
All governmental funds are accounted for on a spending or "financial
flow" measurement focus. This means that generally only current assets
and current liabilities are included on their balance sheets, with the
exception that the noncurrent portion of long-term receivables due to
governmental funds are reported on their balance sheets, offset by fund
balance reserve accounts. Statements of revenue, expenditures and
changes in fund balances for governmental funds generally present
increases (revenues and other financing sources) and decreases
(expenditures and other financing uses) in net current assets.
d. Budgetary accounting:
Budgetary process: The annual budget, which includes estimated revenue
and appropriations, is adopted by the City Council and presented in the
financial statement as follows:
See accountants' report.
CITY OF LA QUINTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1985
2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):
d. Budgetary accounting (Continued):
1, Budgets for the General, Special Revenue and Capital Projects Funds
are adopted on a basis consistent with generally accepted
accounting principles (GAAP).
2, Estimated revenue is the original estimate with modifications for
new programs which are anticipated to be received during the fiscal
year.
3. Original appropriations are modified by supplemental appropriations
and transfers among budget categories.
4. Strict budget control is maintained over all accounts and
expenditures are not allowed to exceed appropriations except in
those specific projects and programs approved in advance by the
City Council.
5. The City Council approves all significant changes.
6. Under Article XIIIB of the California Constitution (the Gann
Spending Limitation Initiative), the City is restricted as to the
amount of annual appropriations from the proceeds of taxes, and if
proceeds of taxes exceed allowed appropriations, the excess must
either be refunded to the State Controller or returned to the
taxpayers through revised tax rates, revised fee schedules or other
refund arrangements. For the fiscal year ended June 30, 1985,
based on calculations by City Management, proceeds of taxes did not
exceed appropriations. Further, Section 5 of Article XIIIB allows
the City to designate a portion of fund balance for general
contingencies, to be used for any purpose.
e. Investments:
Investments are stated at cost, which approximates market value. Cash
and investments at June 30, 1985 totaled $2,418,455.
f. General fixed assets:
General fixed assets are recorded as expenditures of the various
governmental fund types at the time of purchase. Such assets include
leasehold improvements, furniture, fixtures and equipment and are
capitalized in the general fixed asset group of accounts at cost, or if
contributed, at fair market value. No depreciation is provided on
general fixed assets.
See accountants' report.
—10—
CITY OF LA QUINTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1985
2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):
g. Compensated'absences:
The City accounts for compensated absences (unpaid vacation and sick
leave) in accordance with NCGA Statement No. 4. In governmental funds,
compensated absences are recorded as expenditures in the year paid, as
it is the City's policy to liquidate any unpaid vacation or sick leave
existing at June 30 from future resources rather than currently
available expendable resources. Accordingly, the entire unpaid
liability for the governmental funds is recorded in the General Long—
Term Debt Account Group. There is no fixed payment schedule for
compensated absences.
h. Claims and judgements:
The City accounts for material claims and judgements in accordance with
NCGA Statement No. 4. When it is probable that a claim liability has
been incurred at year end, and the amount of the loss can be reasonably
estimated, the City records the estimated loss, in the general long—
term debt acount group. At June 30, 1985, in the opinion of the City
Attorney, the City had no material claims which would require loss
provision in the financial statements. Small dollar claims and
judgements are recorded as expenditures when paid.
i. Total columns on the Combined Financial Statements are capitioned
"Memorandum Only" to indicate that they are presented only to
facilitate financial analysis and such data is not comparable to a
consolidation. Interfund eliminations have not been made in the
aggregation of this data.
3. CHANGES IN GENERAL FIXED ASSETS:
A summary of changes in general fixed assets at June 30, 1985 is as
follows:
Equipment and
furniture
Vehicles
Leasehold
improvements
TOTAL GENERAL
FIXED ASSETS
See accountants' report.
Balance Balance
June 30, 1984 Additions Deletions June 30, 1985
$ 24,383 $ - $ - $ 24,383
13,303 33,000 -- 46,303
2,487 - - 2,487
$ 40,173 $ 33,000 $ $ 73,173
—11—
CITY OF LA QUINTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1985
4. LONG-TERM DEBT:
Long-term debt -at June 30, 1985 consisted of the following:
Compensated absences (see Note 1g) $ 31,005
Subsequent to year end a $20 million dollar bond issue, the La Quinta
Redevelopment Project Tax Allocation Bonds, Series 1985, were issued
persuant to Agency resolutions dated July 30, and August 27, 1985.
Proceeds from the Bonds will help finance commercial, industrial,
residential, public and institutional projects that will provide for the
elimination of blight and deterioration which was found to exist in the
Project Area. The Bonds will assume an average borrowing rate of 9.5%.
The Bonds maturing on or before September 1, 1995 will not be subject to
call and redemption prior to maturity. The Bonds due on or after September
1, 1996 are subject to redemption, at the option of the Agency, from any
source of funds, on any interest payment date on and after September 1,
1995 at redemption prices of 102% to 100%, together with accrued interest
to the date of redemption.
Principal payments on the Bond issue will be payable annually on September
1. The debt service schedule for the Bonds will be as follows:
Year Ended June 30, Series 1985
1989 $ 245,000
1990 265,000
1991 290,000
1992 320, 000
1993 350,000
1994 - 2012 18.530.000
$ 20,000,000
5. RETIREMENT PLAN:
The City is a participant in the Public Employees Retirement System (PERS)
of the State of California covering all the City's permanent employees.
Contributions to the system are based on rates set by PERS based on certain
actuarial assumptions, such as length of employment, estimated salary
rates, mortality rates, projected retirement benefits and other factors.
Pension costs are recorded as expenditures when paid by monthly
contributions to PERS. The total pension expense for the year ended June
30, 1985, was $25,419. Actuarial information related to the plan was not
available from PERS at June 30, 1985. The City has been a member of PERS
since the fiscal year ended June 30, 1984.
See accountants' report.
-12-
CITY OF LA QUINTA
NOTES TO FINANCIAL STATEMENTS
(Continued)
June 30, 1985
6. LEASE COMMITMENTS:
The City is operating out of leased facilities. The lease commenced on
August 1, 1982 and terminates on November 30, 1987, with a two—year renewal
option. Lease payments are approximately $25,000 per year.
7. PROPERTY TAXES:
Under California law, property taxes are assessed and collected by the
counties up to 1% of assessed value, plus other increases approved by the
voters. The property taxes go into a pool, and are then allocated to the
cities based on complex formulas. Accordingly, the City of La Quinta
acrues only those taxes which are received from the county within sixty
days after year end.
Lien date March 1
Levy date June 30
Due dates November 1 and February I
Collection dates December 10 and April 10
8. LITIGATION, COMMITMENTS AND CONTINGENT LIABILITIES:
a. Litigation:
Certain claims have been filed against the City in the normal course of
business. Based upon information received from the City Attorney, the
estimated liability under such claims would not be significant.
b. Grant audit contingencies:
Under the terms of federal and state grants, periodic audits are
required and certain costs may be questioned as not being appropriate
expenditures under the terms of the grants. Such audits could lead to
reimbursement to the grantor agencies. City management believes
disallowances, if any, will be immaterial.
See accountants' report.
—13—
FINANCIAL STATEMENTS OF INDIVIDUAL FUNDS
CITY OF LA QUINTA
GENERAL FUND
COMPARATIVE BALANCE SHEET
June 30, 1985 and 1984
1985 1984
ASSETS
Cash and temporary investments $ 1,783,073 $ 19034,518
Due from other governments 206,408 61,416
Due from other funds - 2,108
Miscellaneous accounts receivable - 28,142
TOTAL ASSETS t 1 QRQ LIA1 (h 1 17A 1 R!l
LIABILITIES AND FUND EQUITY
LIABILITIES:
Accounts payable $ 268,326 $ 142,379
Accrued expenses 9,487 6,182
Deposits 2,700 -
TOTAL LIABILITIES 280,513 148,561
FUND EQUITY:
Unreserved fund balances 1,708,968 977,623
TOTAL LIABILITIES AND FUND EQUITY $ 1,989,481 $ 1,126,184
-14-
CITY OF LA QUINTA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND
BALANCES - BUDGET (GAAP BASIS) AND ACTUAL - GENERAL FUND
For the year ended June 30, 1985
With comparative totals for the year ended June 30, 1984
REVENUES:
Taxes
Licenses and permits
Intergovernmental revenues
Revenues from use of money or property
Other revenues
TOTAL REVENUES
EXPENDITURES:
General government
Public safety
Street maintenance
TOTAL EXPENDITURES
EXCESS OF REVENUES OVER (UNDER)
EXPENDITURES
OTHER FINANCING SOURCES (USES):
Operating transfers in
Operating transfers out
TOTAL OTHER FINANCING
SOURCES (USES)
EXCESS OF REVENUES AND OTHER SOURCES
OVER (UNDER) EXPENDITURES AND
OTHER USES
FUND BALANCES - JULY 1
FUND BALANCES - JUNE 30
1985
Budget Actual
$ 877,106 $ 1,191,566
654,200 790,290
170,677 177,107
80,000 151,631
149,388 9,280
1,931,371 21319,874
Variance
Favorable
(Unfavorable)
$ 314,460
136,090
6,430
71,631
(140,108)
388,503
451,692 449,999 1,693
1,309,371 1,232,554 76,817
553,813 299,102 254, 71 1
2,314,876 12981,655 333,221
(383,505) 338,219 721,724
399,590 399,590
(6, 464 ) (6 1 464 )
-
393,126 393,126
(383,505) 731,345
977,623 977,623
$ 594,118 $ 1,708,968
-15-
1,114,850
t, 1 11u sten
1984
Budget Actual
$ 561,875 $ 818,345
339,000 531,934
136,121 143,004
15,000 68,386
100 356
1,052,096 1,562,025
Variance
Favorable
(Unfavorable)
$ 256,470
192,934
6,883
53,386
256
509,929
360,874
319,726
41,148
748,806
641,145
107,661
171,860
82,377
89,483
1,281,540
1,043,248
238,292
(229,444)
518,777
748,221
-
141,903
141,903
-
(41 104)
(41,104)
100,799
100,799
(229,444) 619,576 849,020
358,047 358,047 -
128.603 $ 977,623 $ 849,020
-16-
CITY OF LA QUINTA
COMBINING
BALANCE
SHEET - ALL SPECIAL REVENUE
FUNDS
June 30, 1985
and 1984
Federal
Local
Revenue
State
Traffic
Transpor-
Totals
Sharing
Gas Tax
Safety
tation
June
30,
Fund
Fund
Fund
Fund
1985
1984
ASSETS
Cash and temporary
investments
$ -
$ 92,946
$ -
$ 440
$ 93,386
$159,055
Due from other
governments
8,857
8,940
-
-
17,797
36,647
TOTAL ASSETS
$ 8,857
$ 101,886
$ -
$ 440
$ 111,183
$195,702
LIABILITIES AND FUND EQUITY
LIABILITIES:
Due to other funds
TOTAL LIABILITIES
FUND EQUITY:
Fund balances
TOTAL LIABILITIES
AND FUND EQUITY
$ - $ -- $ - $ - $ $ 2,108
- - - - - 2,108
8,857 10-118-8-6- - 440 111 , 183 193,594
$ 8,857 $ 101,886 $ - $
-17-
440 $ 111 1183 $195, 702
CITY OF LA QUINTA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - ALL SPECIAL REVENUE FUNDS
For the year ended June 30, 1985
With comparative totals for the year ended June 30, 1984
Federal Local
Revenue State Traffic Transpor-
Sharing Gas Tax Safety tation
Fund Fund Fund Fund
Totals
June 30,
1985 1984
REVENUES:
Intergovernmental revenues $36,685 $105,322 $20,048 $ 29,585 $191,640 $230,932
Revenue from use of money
and property - 11,206 - 440 11.646 14.068
TOTAL REVENUES 36,685 116,528 20,048 30,025 203,286 245,000
EXPENDITURES
EXCESS OF REVENUES OVER
EXPENDITURES
OTHER FINANCING SOURCES (USES):
36,685 116,528 20,048 30,025 203,286 245,000
Operating transfers in - 954 - - 954 -
Operating transfers out (51,576)(167,915)(20,048) (47,112)(286,651) 138,723
TOTAL OTHER
FINANCING
SOURCES (USES) (51 , 576) (166, 961) (20, 048 ) (47, 112) (285, 697) 138,723
EXCESS OF REVENUES OVER
EXPENDITURES AND
OTHER USES
FUND BALANCE - JULY 1
FUND BALANCE - JUNE 30
(14,891)
(50,433)
- (17,087)
(82,411)
106,277
23,748
_152,319
- 17,527
193,594
87,317
$ 8, 857
$101, 886 $
- $ 440
$1 11 , 183
$193,594
-18-
CITY OF LA QUINTA
FEDERAL REVENUE SHARING SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -
BUDGET (GAAP BASIS) AND ACTUAL
For the year ended June 30, 1985
REVENUES:
Intergovernmental revenues
EXPENDITURES
EXCESS OF REVENUES OVER EXPENDITURES
OTHER FINANCING (USES):
Operating transfers out
EXCESS OF REVENUES OVER EXPENDITURES
AND OTHER USES
FUND BALANCE - JULY 1, 1984
FUND BALANCE - JUNE 30, 1985
-19-
Variance
Favorable
Budget Actual (Unfavorable)
$ 38,784 $ 36,685 $ (2,099)
38,784 36,685 (2,099)
(51,576) (51,576)
38,784 (14,891 ) 53,675
23,748 23,748
$ 62,532 $ 8,857 $ 53,675
CITY OF LA QUINTA
STATE GAS TAX SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -
BUDGET (GAAP BASIS) AND ACTUAL
For the year ended June 30, 1985
REVENUES:
Intergovernmental revenues
Revenue from use of money and
property
TOTAL REVENUES
EXPENDITURES
EXCESS OF REVENUES OVER EXPENDITURES
OTHER FINANCING SOURCES (USES):
Operating transfers in
Operating transfers out
TOTAL OTHER FINANCING SOURCES
EXCESS OF REVENUES OVER EXPENDITURES
AND OTHER USES
FUND BALANCE - JULY 1, 1984
FUND BALANCE - JUNE 309 1985
-20-
-- 954 954
(167,915) (167,915)
(166,961) (166, 961 )
99,705 (50,433) (150,138)
15319 152,319 -
$ 252,024 $ 101,886$(150,138)
Variance
Favorable
Budget
Actual
(Unfavorable)
$ 96,705
$ 105,322
$ 8,617
3,000
11,206
8,206
99,705
116,528
16,823
99,705
116,528
16,823
-- 954 954
(167,915) (167,915)
(166,961) (166, 961 )
99,705 (50,433) (150,138)
15319 152,319 -
$ 252,024 $ 101,886$(150,138)
CITY OF LA QUINTA
TRAFFIC SAFETY SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES —
BUDGET (GAAP BASIS) AND ACTUAL
For the year ended June 30, 1985
REVENUES:
Intergovernmental revenues
TOTAL REVENUES
EXPENDITURES
EXCESS OF REVENUES OVER EXPENDITURES
OTHER FINANCING (USES):
Operating transfers out
EXCESS OF REVENUES OVER EXPENDITURES
AND OTHER USES
FUND BALANCE — JULY 1, 1984
FUND BALANCE — JUNE 30, 1985
—21—
Budget Actual
$_ 7,500 $ 20,048
7,500 20, 04 8
Variance
Favorable
(Unfavorable)
$ 12,548
12,548
7,500 202048 12,548
- (20,048) (20, 048 )
7,500 - (7,500)
$ 7,500 $ - $ (7,500)
CITY OF LA QUINTA
LOCAL TRANSPORTATION SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES —
BUDGET (GAAP BASIS) AND ACTUAL
For the year ended June 30, 1985
REVENUES:
Intergovernmental revenues
Revenue from use of money and
property
TOTAL REVENUES
EXPENDITURES
EXCESS OF REVENUES OVER EXPENDITURES
OTHER FINANCING (USES):
Operating transfers out
EXCESS OF REVENUES OVER EXPENDITURES
AND OTHER USES
FUND BALANCE — JULY 1, 1984
FUND BALANCE — JUNE 30, 1985
—22—
Budget Actual
$ 21,130 $ 29,585
- 440
21,130 30,025
Variance
Favorable
(Unfavorable)
$ 8,455
440
8,895
21,130 30,025 8,895
(47,112) (47,112)
21,130 (17,087) 38,217
17,527 _ 17,527 -
$ 38,657 $ 440 $_382 217
CITY OF LA QUINTA
COMBINING BALANCE SHEET - ALL CAPITAL PROJECTS FUNDS
June 30, 1985
Redevelop- Traffic Police Curb
ment Signal- and Fire and Gutter
Project ization Facilities Improvement
Fund Fund Fund Fund Totals
ASSETS
Cash and temporary
investments $ - $ 260428 $ 168,500 $ - $ 1941928
TOTAL ASSETS $ - $ 26,428 $ 168,500 $ - $ 1942928
LIABILITIES AND FUND EQUITY
LIABILITIES:
Accounts payable $ - $ - $
Accrued expenses
TOTAL LIABILITIES - - - - -
FUND EQUITY:
Unreserved fund balances -
designated - 26,428 168,500 - 1 94, 928
TOTAL LIABILITIES
AND FUND EQUITY $ - $ 26,428 $ 168,500 $ -- $ 194,928
-23-
CITY OF LA QUINTA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - ALL CAPITAL PROJECTS FUNDS
For year ended June 30, 1985
�o
Redevelop- Traffic Police Curb
ment Signal- and Fire and Gutter
Project ization Facilities Improvement
Fund Fund Fund Fund Totals
REVENUES:
Licenses and permits $ - $ 26,400 $ 52,800 $ - $ 79,200
Other revenues 5,467 - - - 5,467
TOTAL REVENUES 51467 2400 _ 5.21800 - 84,667
EXPENDITURES:
General government 11,296 - - - 11,296
TOTAL EXPENDITURES _11L296 - - - 11,296
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES (5,829) 26040052d00 - 73,371
OTHER FINANCING SOURCES (USES):
Operating transfers in 5,510 - - - 5,510
Operating transfers out - (54, 642 ) - 082 298 ) (72,940)
TOTAL OTHER FINANCING
SOURCES (USES) 5,510 (54,642) (18,298) (67,430)
EXCESS OF REVENUES AND OTHER
SOURCES OVER EXPENDITURES
AND OTHER USES (31 9 ) (28,242) 52,800 (18,298) 5,941
FUND BALANCES - JULY 1, 1984 3195�4_, 670 _11 5, 700 1 8, 298 188,987
FUND BALANCES - JUNE 30, 1985 $ -- $ 26,428 $ 168,500 $ - $ 194,928
-24-
CITY OF LA QUINTA
REDEVELOPMENT PROJECT AREA CAPITAL PROJECTS FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -
BUDGET (GAAP BASIS) AND ACTUAL
For the year ended June 30, 1985
-25-
Variance
Favorable
Budget
Actual
(Unfavorable)
REVENUES:
Other revenues
$$ 5,467
$ 5,467
$ -
TOTAL REVENUES
5,467
5,467
-
EXPENDITURES:
General government
11,296
11,296
-
TOTAL EXPENDITURES
196
11,296
-
EXCESS OF REVENUES OVER
(UNDER ) EXPENDITURES
(5,829)
(5,829)
--
OTHER FINANCING SOURCES:
Operating transfers in
5,510
5,510
-
EXCESS OF REVENUES AND OTHER SOURCES
OVER EXPENDITURES
(319)
(319)
-
FUND BALANCE - JULY 1, 1984
319
319
-
FUND BALANCE - JUNE 30, 1985
$ -
$ -
$ -
-25-
Y
CITY OF LA QUINTA
TRAFFIC SIGNALIZATION CAPITAL PROJECTS FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES —
BUDGET (GAAP BASIS) AND ACTUAL
For the year ended June 30, 1985
REVENUES:
Licenses and permits
OTHER FINANCING SOURCES (USES):
Operating transfers out
EXCESS OF REVENUES OVER OTHER USES
FUND BALANCE — JULY 1, 1984
FUND BALANCE — JUNE 30, 1985
—26—
Budget Actual
$ 57,375 $ 26P400
-° (54,642)
57,375 (28,242)
54,670 54,670
$ 1129045 $ 26
1428
Variance
Favorable
(Unfavorable)
$ 30,975
54,642
85,617
$ 85,617
CITY OF LA QUINTA
POLICE AND FIRE FACILITIES CAPITAL PROJECTS FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES —
BUDGET (GAAP BASIS) AND ACTUAL
REVENUES:
Licenses and permits
FUND BALANCE — JULY 1, 1984
FUND BALANCE — JUNE 30, 1985
For the year ended June 30, 1985
—27—
Budget Actual
$ 114,750 $ 52,800
115,700 115,700
$ 230,450 $ 168,500
Variance
Favorable
(Unfavorable)
$ 61,950
$ 61,950
CITY OF LA QUINTAL
CURB AND GUTTER IMPROVEMENT CAPITAL PROJECTS FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES —
BUDGET (GAAP BASIS) AND ACTUAL
For the year ended June 30, 1985
REVENUES:
Licenses and permits
OTHER FINANCING SOURCES (USES):
Operating transfers out
EXCESS OF REVENUES OVER OTHER USES
FUND BALANCE — JULY 1, 1984
FUND BALANCE — JUNE 30, 1985
-28-
Budget Actual
(18,298)
- (18,298)
18,298 18,298
$ 18,298 $ -
Variance
Favorable
(Unfavorable)
(18,298)
(18,298)
$ (18,298)