The URL can be used to link to this page

Home My WebLink AboutCC AG PKT 2014-01-27 #E (2)� r CITY OF SEAL BEACH CALIFORNIA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 309 2013 Dj uz!pgTf br Cf bdi ! Dpn qsf i f of jwf !BoovbrgobodjbrtSf gpsLl Gps!d f !Zf bs!Foef e!Kvof !41- !3124! 40 - m►+yq, SEAt4 0 0 0 0 0 0 %44 /F OR %WIW Qsf gbsf e!cz!d f !gobodf !Ef gbsLn f od Vy'dLplb!M'!Cf bufiz -!DDN U! Ejsf dLps!pggobodf CDjuz!Usf bt vsf s! UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! CITY OF SEAL BEACH COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2013 I 101:111:11110010016104 11 =I 010 Page Number INTRODUCTORY SECTION Letterof Transmittal .................................................................................................. ............................... i GFOA Certificate of Achievement ........................................................................... ............................... vi OrganizationalChart .............................................................................................. ............................... vii Listof icia s ....................................................................................................... ............................... viii FINANCIAL SECTION INDEPENDENT AUDITORS' REPORT .................................................................... ..............................1 MANAGEMENT'S DISCUSSION AND ANALYSIS .................................................. ..............................5 BASIC FINANCIAL STATEMENTS Government —Wide Financial Statements: Statement of Net Position ........................................................................... .............................15 Statementof Activities ................................................................................. .............................16 Fund Financial Statements: Balance Sheet — Governmental Funds ....................................................... .............................18 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position ................................................................. .............................21 Statement of Revenues, Expenditures and Changes in Fund Balances — Governmental Funds ................................................................ .............................22 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statementof Activities ................................................................................. .............................24 Budgetary Comparison Statements: GeneralFund .............................................................................................. .............................25 TrafficRelief Grant ..................................................................................... .............................27 Statement of Net Position — Proprietary Funds .......................................... .............................28 Statement of Revenues, Expenses and Changes in Net Position — ProprietaryFunds ........................................................................................ .............................30 Statement of Cash Flows — Proprietary Funds ........................................... .............................32 Statement of Fiduciary Net Position — Fiduciary Funds .............................. .............................33 Statement of Changes in Fiduciary Net Position — Fiduciary Funds .......... .............................34 CITY OF SEAL BEACH COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2013 TABLE OF CONTENTS Notes to Basic Financial Statements COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES Combining Balance Sheet — Nonmajor Governmental Funds .... Combining Statement of Revenues, Expenditures and Changes in Fund Balances — Nonmajor Governmental Funds .................. Budgetary Comparison Schedules — Special Revenue Funds: StreetLighting ...................................... ............................... Supplemental Law Enforcement .......... ............................... Detention Center .................................. ............................... Police Asset Forfeiture ......................... ............................... Air Quality Improvement ....................... ............................... Community Services ............................ ............................... State Gasoline Tax ............................... ............................... MeasureM ........................................... ............................... Community Development Block Grant . ............................... PoliceGrants ........................................ ............................... CitywideGrants .................................... ............................... Landscape District ................................ ............................... HeronPointe ........................................ ............................... PacificGateway ................................... ............................... Budgetary Comparison Schedules — Capital Projects Funds: Capital Projects and Equipment ........... ............................... Budgetary Comparison Schedules — Debt Service Funds: City Debt Service ................................. ............................... Combining Balance Sheet — All Agency Funds ...................... Combining Statement of Changes in Assets and Liabilities — AIIAgency Funds ..................................... ............................... Page Number ..35 70 76 .................... .............................81 .................... .............................82 .................... .............................83 .................... .............................84 .................... .............................85 .................... .............................86 .................... .............................87 .................... .............................88 .................... .............................89 .................... .............................90 .................... .............................91 .................... .............................92 .................... .............................93 .................... .............................94 ..................... .............................95 97 CITY OF SEAL BEACH COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2013 TABLE OF CONTENTS STATISTICAL SECTION Page Number NetPosition by Component ............................................... ............................... ............................102 Changesin Net Position .................................................... ............................... ............................104 Fund Balances of Governmental Funds ............................ ............................... ............................108 Changes in Fund Balances of Governmental Funds ......... ............................... ............................110 Assessed Value and Estimated Actual Value of Taxable Property .................. ............................112 Direct and Overlapping Property Tax Rates ...................... ............................... ............................114 Principal Property Tax Payers ........................................... ............................... ............................116 Property Tax Levies and Collections ................................. ............................... ............................117 Ratios of Outstanding Debt by Type .................................. ............................... ............................118 Ratio of General Bonded Debt Outstanding ...................... ............................... ............................120 Schedule of Direct and Overlapping Debt ......................... ............................... ............................121 Legal Debt Margin Information .......................................... ............................... ............................122 Pledged - Revenue Coverage ........................................... ............................... ............................124 Demographic and Economic Statistics .............................. ............................... ............................125 PrincipalEmployers ........................................................... ............................... ............................126 Full -time and Part -time City Employees by Function ........ ............................... ............................127 Operating Indicators by Function ....................................... ............................... ............................128 Capital Asset Statistics by Function .................................. ............................... ............................129 UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! December 12, 2013 Honorable Mayor, Members of the City Council and Citizens of the City of Seal Beach: City of Seal Beach staff is pleased to submit for your information the Comprehensive Annual Financial Report (CAFR) of the City of Seal Beach (City) for the fiscal year ended June 30, 2013. Responsibility for both the accuracy of presented data and the completeness and fairness of the presentation including all disclosures rests with the City. In our opinion, the data is accurate in all material aspects, is presented in a manner designed to fairly set forth the financial position and results of operations of the City, and contains all disclosures necessary to enable the reader to gain an understanding of the City's financial affairs. The financial statements are prepared in accordance with Generally Accepted Accounting Principals (GAAP) as promulgated by the Government Accounting Standards Board (GASB). This report consists of management's representations concerning the finances of the City. Consequently, management assumes full responsibility for the completeness and reliability of all of the information presented in this report. To provide a reasonable basis for making these presentations, management of the City has established a comprehensive internal control framework that is designed to protect the City's assets from loss, theft or misuse, and to compile reliable information for the preparation of this report in conformity with GAAP. As Management, we assert to the best of our knowledge and belief, this financial report is complete and reliable in all material respects within the reasonable of internal control framework. The City's financial statements have been audited by Lance, Soll & Lunghard LLP, a public accounting firm fully licensed and qualified to perform audits of the state and local governments within the State of California. The audit was designed to obtain reasonable assurance about whether the basic financial statements are free of material misstatement. The independent auditor concluded, based on the audit, that there was a reasonable basis for rendering an unqualified opinion that the City of Seal Beach's financial statements for the year ended June 30, 2013, are fairly presented in conformity with generally accepted accounting principles. The independent auditor's report is presented as the first component of the financial section of this report. GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statement in the form of Management's Discussion and Analysis (MD &A). This letter of transmittal is designed to complement MD &A and should be read in conjunction with it. The City's MD &A can be found immediately following the report of the independent auditors in the financial section of the CAFR. PROFILE OF THE CITY The City of Seal Beach is located on the coast of northwestern Orange County California, was incorporated on October 25, 1915. The City charter, which was adopted in 1964, established the form of government, states the powers and duties of the City Council, and establishes various City Offices. The City is operated under the City Council /City Manager form of government, and is governed by a five - member city council elected by district serving four -year alternating terms and who, in turn elect the Mayor and Mayor Pro Tem from among themselves for a one year term. The governing council is responsible for policy - making, passing local ordinances, adopting the budget, appointing committees, and hiring the City Manager and City Attorney. The City Manager is responsible for carrying out the policies and ordinances of the City Council, for overseeing the day -to -day operations of the City, and for appointing of all department heads. The City Clerk is an elected position and is responsible for maintaining city records and overseeing elections. The City provides a full range of services for the citizens utilizing a mix of contracts with other governmental entities or private companies. The City has its own Police Department but contracts for fire and paramedic services through the Orange County Fire Authority (OCFA). The City also operates water and sewer utilities but contracts for refuse and sanitation treatment services. History of Seal Beach The City has an area of 13.23 square miles and sits on the coast as the gateway to Orange County between the cities of Long Beach and Huntington Beach. In 1901 J.C. Ord, a Civil War veteran known as "the father of Seal Beach," hired a 30 —mule team to bring his small general store building from Los Alamitos to Bay City where he set it down at the southwest corner of crossroads now known as Main Street. J.C. Ord was the first Trustee, the first Mayor, Postmaster, and the first Judge. His store on Main Street was the Post Office and Court House and the jail house when it was necessary. The population in 1915 was 250 persons, including children. Bay City was renamed Seal Beach in 1916. California Seal Lions, commonly called Seals, were a regular part of the scene along the coast and a perfect name for the new town. On January 16, 1916, it was reported in the newspaper, the POST, that Frank Burt, who had managed the concessions at the recent Panama Pacific Exposition just closing in San Francisco, was coming to Seal Beach. His purpose was to establish an amusement zone for Fun and Frolic in this small beach village. The Jewel City Amusement Company was formed and a new 1,865 foot long pier was constructed in early summer 1916, and is the second longest wooden pier in California. The City became a popular recreation destination in the area, and featured a beach side amusement park before Disneyland was founded. During World War II, the U.S. Navy purchased 5,256 acres of land and established the Naval Ammunition and Net Depot for storage and loading of ammunition for the Pacific Fleet. The Seal Beach National Wildlife Refuge was established in 1972. 11 In 1961, Leisure World was built on 541 acres of the Hellman Ranch property and was annexed in 1964. The Rossmoor Business Center was remodeled and now called the Shops at Rossmoor and was annexed by the City in 1962. In 1964 -65, the College Park East and West construction took place. In 1969, Surfside Colony was annexed into Seal Beach and the City population grew to 24,441 by 1970. ECONOMIC CONDITIONS Local economy. Although the focus of this Comprehensive Annual Financial Report is the financial condition of the City at June 30, 2013, it may be best understood when it is considered from the broader perspective of the specific environment within which the City operates. The City is the home of Boeing Company Integrated Defense System international headquarters, the U.S. Naval Weapons Station, the first Leisure World Retirement Community and the 1,000 acre Seal Beach National Wildlife Refuge. The City's one and a half miles of beaches and the public pier attracts more than 2,000,000 visitors each year making recreation an important factor in the local economy. Seal Beach has a variety of local beach front stores at Main Street which include several fine dining establishments. Throughout the year many exciting community events take place in which the residents, and visitors, enjoy and participate. Long -term financial planning. The City of Seal Beach economy and tax base continue to stay the course and maintain the present package of core services for our residents, businesses and visitors and protect all essential municipal service that contribute to the high quality of life within the City. In FY 2012 -2013 the tax revenue declined overall, primarily due to the State of California's dissolution of Redevelopment Agencies. Property Tax revenues increased 11% in the General Fund and Sales Tax increased 10% compared with the projected revenues at the beginning of the FY 2012 -2013. For the upcoming fiscal year, property tax and sales tax are projected to increase slightly primarily due to the continued improvement in real estate values and retail sales throughout the City. The Southern California region, as well as the entire country, is showing some signs of improved economic activity. According to local economic updates, Orange County's unemployment rate will continue to decline and the housing market will continue to show improvement. Consumer spending is expected to increase slightly as well. Major initiatives. The City of Seal Beach will continue to be a major participant in improving ocean water quality as mandated in the Clean Water Act. The City has a National Pollution Discharge Elimination System Program operated for this purpose. iii The City will continue to make improvements to the storm drain system. In November 2008, the City Council approved the update to the Master Plan of Drainage. The 10 years of Master Plan identified $96.6 million storm drain improvements needed throughout the City. The City has recently completed the Candleberry Storm Drain Project (from Lampson Avenue to Aster Street), and the Electric Avenue Storm Drain Project (from Seal Beach Boulevard to 14th Street). The City is currently beginning the construction of the Marina Avenue Storm Drain Project and completed studying drainage improvements on Ironwood Avenue. The City has been aggressively seeking and will continue to search for funding sources from other governmental agencies or use non - recurring or future developmental revenues to maintain and improve its infrastructure. The City completed several capital projects throughout the fiscal year, including the completion of Main Street Tree Planting, Arbor Park Parking Lot Resurfacing, Seal Beach Blvd Realignment, 1st Street Parking Lot /Bike Trail Improvement, Annual Concrete, Slurry Seal & Paving Projects, 7th St /Studebaker Off -Ramp Project and the Navy Storm Drain Channel Improvement. FINANCIAL POLICIES AND PROCEDURES Internal control structure. Management of the City is responsible for establishing and maintaining an adequate internal control structure. Internal accounting controls are designed to ensure that the assets of the City are protected from loss, theft or misuse, and that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance, that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of the control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits require estimates and judgment by management. Budgetary controls. The annual budget serves as the foundation for the City of Seal Beach's financial planning and control. The City Council adopts an annual budget and appropriates the funds necessary to provide the services and operations for the fiscal year. The City Manager may make appropriation transfers within and between departments which do not result in an increase in appropriations. The City of Seal Beach City Council must approve all appropriation changes that results in an increase in appropriations. ��1 GFOA Award Program — Comprehensive Annual Financial Report The Government Finance Officers Association of the United States (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Seal Beach for its Comprehensive Annual Financial Report for the fiscal year ended June 30, 2012. This was the fourteenth consecutive year that the City has received this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. 1V A Certificate of Achievement is valid for a period of one year only. City staff believes that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA again this year for award. ACKNOWLEDGEMENTS This report was made possible by the highly dedicated Finance staff with their special efforts and the teamwork, special thanks to the staff in the Finance Department. Sincere appreciation is also expressed to the City Council and City Manager for their interest and support, which made this presentation possible; and finally to the City's auditing firm of Lance, Soll & Lunghard, LLP for their professional assistance. Respectfully submitted, Victoria L. Beatley Director of Finance /City Treasurer v ►lJ Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting Presented to City of Seal Beach California For its Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2012 *ef�le AWZ-;�- Executive Director/CEO a City of Seal Beach Organizational Chart Represents City in all legal matters FINANCE Financial Services /Reporting Business Tax Utility Billing /Cashiering Budget/Audit/Grants Accounts Payable /Payroll Debt Administration Treasury /Investments Successor Aaencv Accountina COMMUNITY DEVELOPMENT Panning Building /Code Enforcement Development Review Community Development Block Grant Land Use and Coastal Issues General Pan and Code Orange County Fire Authority CITIZENS OF SEAL BEACH MAYOR AND CITY COUNCIL CITY MANAGER Exercise Administrative Control Over All Departments Agenda Preparation Administrative Policies City Council Support Computer Network Administration Intergovernmental Relations Special Studies /Projects Policy Analysis Risk Management Recreation Youth /Adult Gass Activity Special Event Permitting Sports League /Events M CITY CLERK Records Management Election Management HUMAN RESOURCES Personnel Recruitment Employee Benefits Classification /Compensation PUBLIC WORKS /ENG. Engineering Fleet Maintenance Beach Maintenance Water /Sew er Maintenance Capital Projects Storm Drains Building Maintenance Street Maintenance Traffic and Transportation MARINE SAFETY Beach /Pool Safety Jr. Lifeauard Proaram Traffic /Patrol /Detective Services Parking Control Detention Center DJUZ!PGTFBMCFBDI D B MJGP S OJB! Qsj odj q brtP gd df st ! Dj uz!Dpvodj rh I Hbsz!N jrrf&!N bzps! FntE7 -!Ef bLpo -!N bzpslQ p!Uf n ! N j I f M vy u +!Dpvodj rtN f n cf s! H psepo!Ti bol t- !Dpvodj rfN f n cf sl E bvy e!Trpbo -! Dpvodj rtN f n cf s! I F yf dv y vf !P gd df st ! KrrtS /!Johsbn -!Dj Lz!N bobhf s! Rvj oo!Cbsspx -!Dj Lz!B upsof z! Ben jojtLsbyvAf!Qfstpoofrh Kpf lCbjrfz-!N t4 of !Tbgf Lz!Di j f g !fin !Cbt i bn -!E jsf dLps1poDpn n voj Lz Ef \Af rpgn f oil VVdLpl b!M'!Cf bufz-!E j sf dLps!pgq obodf CDj Lz!Usf bt vsf s! Tf bo!Dsvn cz -!Ejsf dLps!pgQvc#!X pd t! [,Iptf qi !Tgqupvydi -!Di jf gpgOpW ! Moeb!Ef vyof -!Dj u'!Drfid ! • David E. Hale, CPA, CFP • Bryan S. Gruber, CPA • Donald G. Slater, CPA • Deborah A. Harper, CPA LSL • Richard K. Kikuchi, CPA • Gary A. Cates, CPA • Susan F. Matz, CPA • Michael D. Mangold, CPA CERTIFIED PUBLIC ACCOUNTANTS •Shelly K.Jackley,CPA • David S. Myers, CPA A Division of LSL, CPAs viLmure, peeLer 8_ Voucher INDEPENDENT AUDITORS' REPORT To the Honorable Mayor and Members of the City Council City of Seal Beach, California Report on Financial Statements We have audited the accompanying financial statements of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of City of Seal Beach, California, (the City) as of and for the year ended June 30, 2013, and the related notes to the financial statements, which collectively comprise the City's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the City of Seal Beach, California, as of June 30, 2013, and, the respective changes in financial position and, where applicable, cash flows thereof and the Lance, Sall & Lunghard, LLP 203 North Brea Boulevard Suite 203 Brea, CA 92821 TEL 714.672.0022 Fax 714.672.0331 www.lslcpas.com Orange County Temecula Valley Silicon Valley Los Angeles County LSL 0 Culr�l Pilo PLe;:c .ccodKlinls .;..m....rc r "+e•r.r ,ti i`ssr :.el:rr To the Honorable Mayor and Members of the City Council City of Seal Beach, California respective budgetary comparison for the General Fund and the Traffic Relief Grant for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's basic financial statements. The introductory section, combining and individual nonmajor fund financial statements and schedules, and statistical section are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining and individual nonmajor fund financial statements and schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. Prior -Year Comparative Information The financial statements include summarized prior -year comparative information. Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America. Accordingly, such information should be read in conjunction with the government's financial statements for the year ended June 30, 2013, from which such summarized information was derived. •• LSE*: CM11N[!!6941[ MGM" rs wwr.naL o- -- %JLMUre, pCeler & bou[h" To the Honorable Mayor and Members of the City Council City of Seal Beach, California Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 12, 2013 on our consideration of the City of Seal Beach's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City's internal control over financial reporting and compliance. Brea, California December 12, 2013 UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! CITY OF SEAL BEACH MANAGEMENT'S DISCUSSION AND ANALYSIS Management of the City of Seal Beach is pleased to offer this narrative overview and analysis of the financial activities of the City for the fiscal year ended June 30, 2013. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal and the City's financial statements. FINANCIAL HIGHLIGHTS Assets and Deferred Inflow of Resources included in the City's combined governmental and business -type activities exceeded liabilities by $145,775,947 for the fiscal year ended June 30, 2013, representing a decrease of .47% in net position from the prior fiscal year. Of this amount, an increase of $2,752,531 was due to the increase in capital assets during the fiscal year. In addition, $36,869,435 (unrestricted net position) of the total net position may be used to meet the government's ongoing obligations to citizens and creditors in accordance with the City's fund designation and fiscal policies. This amount includes City Council designations of fund balance. • The City's change in net position was $3,122,390 less than last fiscal year. The major reason for the decrease in the change in net position is attributable to the Net Position being restated to properly reflect the Net Pension Asset related to the PERS Cost Sharing Plan at June 30, 2013 in the amount of $7,227,000. In addition, utilities users tax decreased by $751,659 and public safety expenses increased by $852,816 for the fiscal year ended June 30, 2013. • As of the close of the current fiscal year, the City's governmental funds reported combined ending fund balances of $32,754,914, representing an increase of 7% from the prior fiscal year. This resulted in an unassigned fund balance of $20,802,341, or 64% of the total fund balance, after recording all restricted and assigned. • At the end of the current fiscal year, unassigned fund balance in the General Fund was $21,149,350 or 71.4% of total general fund expenditures and transfers out. • Revenues associated with the City's business -type activities were $1,900,423 more than the $5,788,318 in expenses recorded. During the fiscal year ended June 30, 2010, a water rate study was conducted and as a result of that study, water rates were reduced in fiscal year 2009 -2010 but increased in fiscal year 2010 -2011 and for the next three years. This is expected to bring the gap between revenues and expenditures much closer in the future. OVERVIEW OF THE FINANCIAL STATEMENTS This discussion and analysis is intended to serve as an introduction to the City's basic financial statements. The City's basic financial statements are comprised of three components: 1) government - wide financial statements, 2) fund financial statements and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. Government -wide financial statements — The government -wide financial statements are designed to provide readers with a view of the City's finances as a whole in a manner similar to a private- sector business. The Statement of Net Position presents information on all of the City's assets, deferred outflows and liabilities, with the difference between the two reported as net position. Increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating. MANAGEMENT'S DISCUSSION & ANALYSIS (CONTINUED) JUNE 30, 2013 The Statement of Activities presents information showing how the City's net position changed during the fiscal year. All changes in net position are reported when the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in the future fiscal periods. Both of the government -wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from functions that are intended to recover all or a significant portion of their costs through user fees and charges (business -type activities). The governmental activities of the City include general government and administration, public safety, development services, public works, and recreation. The business -type activities of the City include water and sewer operations. Fund Financial Statements — The fund financial statements provide detailed information about the most significant funds and other funds — not the City as a whole. Some funds are required to be established by State law and by bond covenants. However, management established many other funds to help control and manage money for particular purposes or to verify that all legal requirements for using certain taxes, grants, and other resources are being satisfied. The City's three types of funds are governmental, proprietary and fiduciary funds. Governmental funds — Most of the City's basic services are reported in governmental funds, which focus on how money flows in and out of those funds and the balances left at year -end that are available for spending. These funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted to cash. The governmental fund statements provide a detailed short-term view of the City's general government operations and the basic services it provides. Governmental fund information helps determine whether there are more or fewer financial resources that can be spent in the near future to finance the City's programs. The differences of results in the Governmental Fund financial statements to those in the Government -wide financial statements are explained in a reconciliation following each of the Governmental Fund financial statements. Proprietary funds — Customer charges for various City services are generally reported in proprietary funds. Proprietary funds are reported in the same way that all activities are reported in the Statement of Net Position and the Statement of Activities. In fact, the City's enterprise funds are comprised of the business -type activities reported in the government -wide statements but provide more detail and additional information such as a statement of cash flows. Fiduciary funds — The City utilizes Fiduciary Funds to account for assets held by the City in a trustee capacity, or as an agent for other governmental entities, private organizations, or individuals. All of the City's fiduciary activities are reported in a separate statement of fiduciary net position and a statement of changes in fiduciary net position. We exclude these activities from the City's Government -wide Financial Statements because the City cannot use these assets to finance its operations. Notes to the Financial Statements — The financial statements also include the Notes to the Financial Statements that provide important narrative details about the information contained in the financial statements. Information contained in the Notes to the Financial Statements is critical to a reader's full understanding of the Government -wide and Fund Financial Statements. Supplementary Information — In addition to the required elements of the Basic Financial Statements, a Supplementary Information section is included which contains budgetary and combining schedules that provide additional details about the City's non -major Governmental Funds and Fiduciary Funds. GOVERNMENT -WIDE FINANCIAL ANALYSIS Our analysis focuses on the City's net position and changes in net position resulting from the City's activities. MANAGEMENT'S DISCUSSION & ANALYSIS (CONTINUED) JUNE 30, 2013 Net Position - Net position may serve over time as a useful indicator of a government's financial position. The City's combined net position were $145.8 million and $146.5 million for the years ended June 30, 2013 and June 30, 2012, respectively, as shown in Table 1. Current and other assets Capital assets Total assets Deferred Charge on refunding Total Deferred inflow of resources Long -term liabilities outstanding Other liabilities Total liabilities Net position Net investment in capital asets Restricted Unrestricted Total net position Table 1 Net Position (in Thousands) Governmental Business -Type Total Activities Activities Activities 2012 2013 2012 2013 2012 2013 $ 43,187 $ 38,254 $ 13,325 $ 14,481 $ 56,512 $ 52,735 75,939 77,284 36,605 38,013 112,544 115,297 119,126 115,538 49,930 52,494 169,056 168,032 - - - 193 - 193 - 193 - 193 13,447 11,718 4,781 5,687 18,228 17,405 2,549 3,284 1,810 1,760 4,359 5,044 15,996 15,002 6,591 7,447 22,587 22,449 70,512 72,699 32,021 32,646 102,533 105,345 2,662 3,562 - - 2,662 3,562 29,956 24,275 11,318 12,594 41,274 36,869 $ 103,130 $ 100,536 $ 43,339 $ 45,240 $ 146,469 $ 145,776 Investment in capital assets represents assets such as land, buildings, infrastructure, and equipment less any related outstanding debt used to acquire those assets. Net Investment in capital assets represents $105.3 million, or 73 %, of the total $ 145.8 million net position - an increase of 3% from the prior fiscal year. The City's capital assets do not represent a financial resource and consequently are not available for future spending. Unrestricted position represent the second largest portion of the City's net position. The City is required by Council Policy to maintain a minimum of 20% to 25% of operating expenditures to maintain the City's credit worthiness and to meet cash flow requirements. As of June 30, 2013, unrestricted net position decreased by 13% to $35.9 million from $41.3 million in the prior fiscal year. Restricted net position represent resources that are legally restricted to specific uses. These restrictions are generally enforced by external agencies. As of June 30, 2013, the City reported positive balances in all three categories of net position for both Governmental and Business -type Activities. With the exception of contracting the City's fire services with the Orange County Fire Authority, the City is a full service city providing residents and visitors with the following functional services: General Government is comprised of the City Council, City Clerk, City Manager, Human Resources, and Administrative Services. These departments provide general governance, executive management, records management, risk management, finance, cash management, accounting, and information technology services. An outside firm appointed by the City Council provides legal services. Public Safety is comprised of the Police and Lifeguard departments. The two departments provide general law enforcement, animal control services, ocean and pool lifeguard services, and parking control. Public Works provides engineering, construction and maintenance of public streets, highways, buildings, beaches, parks and related infrastructure, as well as traffic engineering, and street lighting. MANAGEMENT'S DISCUSSION & ANALYSIS (CONTINUED) JUNE 30, 2013 Development Services is comprised of the Planning and Building departments that provide planning and zoning services, economic development services, and building plan check and code enforcement services. Community Services provides leisure classes, monitors use of community facilities, sports programs, and aquatic services. Business Enterprise Operations include water and sewer operations and are administered by Public Works. The following table provides a summary of the City's operations for the years ended June 30, 2013 and 2012. Revenues: Program Revenues: Charges for services Operating grants and capital contrbutions Capital grants and conributions General Revenues: Taxes Property taxes Sales taxes Transient occupancy taxes Other taxes Use of money and property Other Extraordinary gain /(loss) on dissolution of Redevelopment Agency Total revenues Expenses: General government Public safety Community development Community Services Public works Interest on long -term debt Water Sewer Total expenses Excess /(deficiency) Changes in net position Net position at beginning of year Restatement of net position Net Position at end of year Table 2 Changes in Net Position (in Thousands) Governmental Business -Type Activities Activities 2012 2013 2012 2013 $ 6,060 $ 5,089 $ 6,820 $ 7,599 5,891 5,837 - - 44 - - - Total Activities 2012 2013 $ 12,880 $ 12,688 5,891 5,837 44 - 10,338 9,958 - - 10,338 9,958 4,930 5,409 - - 4,930 5,409 970 1,289 - - 970 1,289 6,843 6,201 - - 6,843 6,201 714 373 97 85 811 458 231 331 4 5 235 336 (3,531) - (1,200) - (4,731) - 32,490 34,487 5,721 7,689 38,211 42,176 6,478 5,373 - - 6,478 5,373 14,153 15,006 - - 14,153 15,006 1,372 1,781 - - 1,372 1,781 941 1,273 - - 941 1,273 6,577 6,212 - - 6,577 6,212 693 575 - - 693 575 - - 4,166 4,268 4,166 4,268 - - 1,403 1,520 1,403 1,520 30,214 30,220 5,569 5,788 35,783 36,008 2,276 4,267 152 1,901 2,428 6,168 2,276 4,267 152 1,901 2,428 6,168 100,854 103,130 43,187 43,339 144,041 146,469 - (6,861) - - - (6,861) $ 103,130 $ 100,536 $ 43,339 $ 45,240 $ 146,469 $ 145,776 Analysis of the City's Operations - The City's Net Position decreased by $.7 million during Fiscal Year 2012 -2013 or .47 %, over prior year results. N. MANAGEMENT'S DISCUSSION & ANALYSIS (CONTINUED) JUNE 30, 2013 Governmental Activities experienced a decrease of $2.6 million in net position as of June 30, 2013, compared to an increase of $2.3 million at June 30, 2012. The primary reason for the decrease in net position is attributable to the Net Position that being restated to properly reflect the Net Pension Asset related to the PERS Cost Sharing Plan at June 30, 2013, in the amount of $7,227,000. The cost of all governmental activities during the current fiscal year was $ 30.2 million relatively same as last year. As shown on the statement of activities, those who directly benefited from the programs paid $5.1 million of the cost, and $5.8 million was financed by contributions and grants received from other governmental organizations. The remainder of the costs of operations, $19.3 million was subsidized through general City taxes. The largest operating cost was comprised of Public Safety, representing 50% of total governmental expenditures compared to 47% of total governmental expenditures in fiscal year 2011 -2012. Business -type Activities' net position increased $1.9 million primarily due to planned increases in water and sewer rates. FINANCIAL ANALYSIS OF THE GOVERNMENT'S FUNDS Governmental funds — The objective of the City's governmental funds is to provide information on near -term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. As of June 30, 2013 the City's governmental funds reported combined ending fund balances of $32.8 million. Approximately $20.8 million, or 64 %, of this total amount constitutes unassigned fund balance. The remainder of the fund balance is assigned to indicate that it is not available for new spending because it has already been committed to pay for encumbrances, loans, prepaid expenses, or advances to other funds. The General Fund ended the fiscal year with a fund balance of $29.5 million, representing a net increase of $1.1 million in fund balance compared to the $2 million increase experienced during the prior fiscal year. The primary reason for the increase in fund balance was due to increase in sales taxes and property taxes. Additionally, general government expenditures decreased by $1.1 million. Proprietary funds — The City's proprietary funds financial statements provide the same type of information found in the government -wide financial statements, but in more detail. Unrestricted net position totaled $8.8 million and $3.8 million for the Water and Sewer funds, respectively. The Water Fund increased by $714 thousand in net position due to a planned increase in water rates. The increase of $1.2 million in the Sewer Fund net position resulted from planned increases in sewer operating fees and sewer capital fees charged to customers to rehabilitate and maintain the sewer infrastructure and satisfy future debt service commitments. Sewer operating fees represent 22% of customer water charges for both usage and capital costs. General Fund Budgetary Highlights — The difference between the original and final amended budgeted revenues was a $243 thousand increase. The primary reason for the increase in the original and final budgeted numbers is due to increases in intergovernmental activities. The difference between the original and final amended budget in General Fund expenditures was an increase of $1 million. This difference is due to a variety of budget amendments approved by the City Council during the fiscal year including the OCTA Cooperative Agreement, repair to abate nuisance to the building, purchase order and CIP carryover from prior fiscal year, various capital projects (Local Coastal Plan, Lampson Median, and Underground Storage Tank Remediation), and bicycle path and Edison Park maintenance. MANAGEMENT'S DISCUSSION & ANALYSIS (CONTINUED) JUNE 30, 2013 General Fund revenues came in higher than projected in the final budget by approximately $.9 million. Actual revenues came in higher the budgeted revenues were almost entirely due to property tax, sales tax, and franchise fees coming in higher than budgeted. General Fund actual expenditures were $4.7 million less than appropriations. This difference is due to transfers out and budgeted capital projects that were not either started or completed during the fiscal year. These appropriations were carried forward to the FY 2013 -2014 fiscal year. CAPITAL ASSETS The City's capital assets for its governmental and business -type activities as of June 30, 2013, amounts to $115.3 million compared to $112.5 million (net of accumulated depreciation) for FY 2011 -2012. This investment in capital assets includes land, building, equipment, improvements, infrastructure and construction in progress. Total capital assets for governmental activities for the current fiscal year increased 2% and the City's investment in capital assets for business -type activities for the current fiscal year increased 4 %. Table 3 Capital Assets At Year -End (Net of Depreciation, in Thousands) During FY 2012/13, major capital projects formally completed include: • 2012 Annual Concrete Program Project No. ST1104: this project repairs, replaces and rehabilitates concrete driveways, sidewalks and curb and gutter throughout the City for $49,811.76. • Arterial & Local Street Resurfacing Project No. ST1102 and ST1103: this project consisted of installing pavers, removing and replacing various locations of damaged sidewalk, curb & gutter, and street resurfacing for $404,315.52. • 2012 Annual Slurry Seal Project No. ST1101: this project slurry seal various streets in Old Town as identified in the Pavement Management Program Report for $104,083.14. • Arbor Park Resurfacing Project No. PR1102: this project repaved the entryway to the park, constructed concrete walkways, and four ADA parking stalls for $74,299.05. • Mary Wilson Library Truss Repair Project No. BG1205: this project provided additional support to several roof trusses for $14,852.50. • Design of McGaugh Pool ADA Improvements Project No. BG1206: this project consisted of preparing final plans, specifications and cost estimate for a complete bid package for $19,800.00. • Main Street Tree Planting Project No. ST1110. This project involved removing existing trees and replacing them with the primary tree recommendation per the adopted Street Tree Master Plan and constructing irrigated planter areas and pavers. 10 Governmental Business -Type Activities Activities Total 2012 2013 2012 2013 2012 2013 Land and land easement $ 11,017 $ 11,017 $ - $ - $ 11,017 $ 11,017 Buildings and Improvements 10,036 9,719 4 3 10,040 9,722 Machinery and Equipment 502 616 709 685 1,211 1,301 Vehicles 586 1,057 67 170 653 1,227 Infrastructure 53,359 51,941 31,158 30,639 84,517 82,580 Contruction -in- progress 439 2,934 4,667 6,516 5,106 9,450 Totals $ 75,939 $ 77,284 $ 36,605 $ 38,013 $ 112,544 $ 115,297 During FY 2012/13, major capital projects formally completed include: • 2012 Annual Concrete Program Project No. ST1104: this project repairs, replaces and rehabilitates concrete driveways, sidewalks and curb and gutter throughout the City for $49,811.76. • Arterial & Local Street Resurfacing Project No. ST1102 and ST1103: this project consisted of installing pavers, removing and replacing various locations of damaged sidewalk, curb & gutter, and street resurfacing for $404,315.52. • 2012 Annual Slurry Seal Project No. ST1101: this project slurry seal various streets in Old Town as identified in the Pavement Management Program Report for $104,083.14. • Arbor Park Resurfacing Project No. PR1102: this project repaved the entryway to the park, constructed concrete walkways, and four ADA parking stalls for $74,299.05. • Mary Wilson Library Truss Repair Project No. BG1205: this project provided additional support to several roof trusses for $14,852.50. • Design of McGaugh Pool ADA Improvements Project No. BG1206: this project consisted of preparing final plans, specifications and cost estimate for a complete bid package for $19,800.00. • Main Street Tree Planting Project No. ST1110. This project involved removing existing trees and replacing them with the primary tree recommendation per the adopted Street Tree Master Plan and constructing irrigated planter areas and pavers. 10 MANAGEMENT'S DISCUSSION & ANALYSIS (CONTINUED) JUNE 30, 2013 • Seal Beach Blvd Realignment Project No. 49750: this project realigned Seal Beach Blvd from Old Ranch Road to St. Cloud to provide three thru lanes in each direction and dual northbound left turns at St. Cloud. • 1St Street Parking Lot/Bike Trail Improvement Project No. BP0901: this project consisted of a newly paved surface for the bike trail, new pavement for the terminus of the River Trail at 1St Street and Ocean Avenue, seating, bike racks, redesigned parking with new landscaping and lighting and restroom upgrades. • 7th St/Studebaker Off -Ramp Project No. ST1106: this project now separates vehicles safely, channelizes and reduces the delays for the left and right turns out of College Park Drive. • Navy Storm Drain Channel Improvement Project No. SD1202: this project involved clearing and grubbing over 350 feet of earthen drainage channel, repairing headwalls and adding fall protection at the outlets of these channels, restoring and replacing flap gate valves at drainage pipe outlets, and cleaning over 650 feet of existing underground drainage piping. • 12 inch Water Main Transmission Line Project No. WT0901: this project involved constructing over 2,600 linear feet of 12 -inch ductile iron water line on Adolfo Lopez Drive and along the County owned and operated Los Alamitos Flood Control Basin to connect the new OC Flood's pump station. Additional information on the City's capital assets can be found in note 5 in the Financial Section of this re po rt. DEBT ADMINISTRATION As of June 30, 2013, the City had bonded debt, notes payable, compensated absences, claims payable, and capital leases totaling $17.4 million compared to $18.2 million at the end of FY 2011 -2012. The City's governmental activities maintained $11.7 million in bonds, capital leases, compensated absences, and claims payable versus $13.4 million last year, representing a decrease of approximately $1.7 million from the previous fiscal year. This decrease reflects interest and principal payments made during FY 2011 -2012. The City's business -type activities debt increased $7 million from $4.9 million to $5.6 million. Debt in the business -type activities consists of Sewer Certificates of Participation Payable to provide funds for improvements to the City's sewer system, a State revolving loan for the sewer capital improvement project, compensated absences, and a Water Economic Development Administration Loan for drought relief. The increase in outstanding debt was mainly attributable to an increase of $.9 million in the State revolving loan. 11 MANAGEMENT'S DISCUSSION & ANALYSIS (CONTINUED) JUNE 30, 2013 Table 4 Outstanding Debt, At Year -End (in Thousands) Additional information on the City's long -term debt can be found in notes 6 -12 in the Financial Section of the report. ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS The City of Seal Beach economy and tax base continue to stay the course and maintain the present package of core services for our residents, businesses and visitors and protect all essential municipal service that contribute to the high quality of life within the City. In FY 2012 -2013 the tax revenue decreased overall as a direct result of the dissolution of redevelopment agencies by the State of California. In the General Fund, Property Tax revenues increased 11% and Sales Tax increased 10% compared with the projected revenues at the beginning of the FY 2012 -2013. For the upcoming fiscal year, property tax and sales tax are projected to increase slightly primarily due to the continued improvement in real estate values and retail sales throughout the City. The Southern California region, as well as the entire country, is continues to show signs of improved economic activity. According to local economic updates, Orange County's unemployment rate will continue to decline and the housing market will continue to show improvement. Consumer spending is expected to increase slightly as well. The City prepared an annual budget for FY 2012 -2013. The one year budget represents a General Fund surplus of operating revenues over operating expenditures (excluding capital projects) in each fiscal year. Expenditures of the City were budgeted at the current level of service with capital improvement projects to be supported primarily by the City's General Fund reserves. The revenue projections for the FY 2012 -2013 budget year were very conservative due to the slow improvement in the economy. The City will continue to monitor revenue streams throughout the coming years and will adjust spending levels as deemed necessary. The most significant issues facing the City are the aging condition of the City's infrastructure. The City has completed and adopted numerous infrastructure planning documents e.g. (Water Master Plan, Sewer Master Plan, Master Plan of Drainage, and Pavement Management Plan). These plans identify well over $150 million in needed improvements throughout the City. The City annually adopts a 5 year Capital Improvement Program (CIP) that strategically plans construction of these needed improvements. The 12 Governmental Business -Type Activities Activities Total 2012 2013 2012 2013 2012 2013 Compensated absences $ 740 $ 787 $ 110 $ 128 $ 850 $ 915 Promissory note - - 87 74 87 74 Capital leases 203 70 - - 203 70 Revenue bonds - - - - Tax Allocation bonds - - - - Pension Obligation Bonds 7,227 6,045 7,227 6,045 Lease Revenue Bonds 4,935 4,515 - - 4,935 4,515 Certificates of participations - - 3,085 2,965 3,085 2,965 Sewer Capital Improv. Proj. - - 1,704 2,521 1,704 2,521 Self- insured claims payable 342 301 - - 342 301 Total $ 13,447 $ 11,718 $ 4,986 $ 5,688 $ 18,433 $ 17,406 Additional information on the City's long -term debt can be found in notes 6 -12 in the Financial Section of the report. ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS The City of Seal Beach economy and tax base continue to stay the course and maintain the present package of core services for our residents, businesses and visitors and protect all essential municipal service that contribute to the high quality of life within the City. In FY 2012 -2013 the tax revenue decreased overall as a direct result of the dissolution of redevelopment agencies by the State of California. In the General Fund, Property Tax revenues increased 11% and Sales Tax increased 10% compared with the projected revenues at the beginning of the FY 2012 -2013. For the upcoming fiscal year, property tax and sales tax are projected to increase slightly primarily due to the continued improvement in real estate values and retail sales throughout the City. The Southern California region, as well as the entire country, is continues to show signs of improved economic activity. According to local economic updates, Orange County's unemployment rate will continue to decline and the housing market will continue to show improvement. Consumer spending is expected to increase slightly as well. The City prepared an annual budget for FY 2012 -2013. The one year budget represents a General Fund surplus of operating revenues over operating expenditures (excluding capital projects) in each fiscal year. Expenditures of the City were budgeted at the current level of service with capital improvement projects to be supported primarily by the City's General Fund reserves. The revenue projections for the FY 2012 -2013 budget year were very conservative due to the slow improvement in the economy. The City will continue to monitor revenue streams throughout the coming years and will adjust spending levels as deemed necessary. The most significant issues facing the City are the aging condition of the City's infrastructure. The City has completed and adopted numerous infrastructure planning documents e.g. (Water Master Plan, Sewer Master Plan, Master Plan of Drainage, and Pavement Management Plan). These plans identify well over $150 million in needed improvements throughout the City. The City annually adopts a 5 year Capital Improvement Program (CIP) that strategically plans construction of these needed improvements. The 12 MANAGEMENT'S DISCUSSION & ANALYSIS (CONTINUED) JUNE 30, 2013 CIP recommends $39.9 million in improvements over the next 5 years. The 5 Year Capital Improvement Program identifies needs in the following areas: Beach and Pier ($3.5m), Buildings and Facilities ($5.5m), Sewer System ($10.3m), Storm Drain System ($2.0m), Streets and Transportation ($5.7m) and Water System ($8.9m). Based upon the list of known projects there is over $50 million of capital improvements needed in the near future. REQUEST FOR INFORMATION This financial report is designed to provide the City's citizens, taxpayers, customers, investors, and creditors with a general overview of the City's finances and to demonstrate the City's accountability for the funds it receives. If you have questions about this report or need additional financial information, contact the City's Finance Department at 211 8th Street, Seal Beach, CA 90740 -6379 or call (562) 431- 2527. 13 UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! 14 CITY OF SEAL BEACH STATEMENT OF NET POSITION JUNE 30, 2013 Assets: Cash and investments Receivables: Accounts Taxes Accrued interest Prepaid costs Due from other governments Deferred charges Cash with fiscal agent Net OPEB asset (note 11) Net pension prepaid Capital assets not being depreciated Capital assets, net of depreciation Total Assets Deferred Outflows of Resources: Deferred charge on refunding Total Deferred Outflows of Resources Liabilities: Accounts payable Accrued liabilities Accrued interest Unearned revenue Deposits payable Retentions Payable Noncurrent liabilities (note 6): Due within one year Due in more than one year Total Liabilities Net Position: Net investment in capital assets Restricted for: Community development projects Public safety Community services Public works Debt service General government - grants Unrestricted Total Net Position Primary Government Governmental Business -Type Totals Activities Activities 2013 2012 $ 34,163,510 $ 13,301,518 $ 47,465,028 $ 43,349,993 842,067 1,179,988 2,022,055 1,643,157 - 1,643,157 30,463 - 30,463 549,515 - 549,515 724,445 - 724,445 301,116 - 301,116 13,950,169 6,515,834 20,466,003 63,333,861 31,496,857 94,830,718 1,532,709 115,538,303 52,494,197 168,032,500 10,185,522 - 193,125 193,125 - 193,125 193,125 1,895,505 1,348,026 44,170 17,074 1,484,612 76,054 763,229 306,946 7,227,000 16,123,009 96,421,181 169,056,799 2,450,103 1,451,412 3,901,515 3,602,755 206,706 31,658 238,364 209,662 49,863 - 49,863 37,284 - - - 1,753 454,264 7,865 462,129 316,521 122,886 268,676 391,562 191,421 1,532,709 378,676 1,911,385 2,493,296 10,185,522 5,309,338 15,494,860 15,734,454 15,002,053 7,447,625 22,449,678 22,587,146 72,698,895 32,645,747 105,344,642 102,822,498 772,684 - 772,684 665,713 95,481 - 95,481 115,940 17,973 - 17,973 64,398 1,906,011 - 1,906,011 1,007,716 713,563 - 713,563 752,360 56,158 - 56,158 56,158 24,275,485 12,593,950 36,869,435 40,984,870 $ 100,536,250 $ 45,239,697 $ 145,775,947 See Notes to Financial Statements 15 $ 146,469,653 CITY OF SEAL BEACH STATEMENT OF ACTIVITIES YEAR ENDED JUNE 30, 2013 Business -Type Activities Water Utility 4,267,840 4,924,109 - - Sewer Utility Program Revenues Total Business -Type Activities 5,788,318 7,599,310 - - Total Primary Government Operating Capital General Revenues: Charges for Contributions Contributions Expenses Services and Grants and Grants Functions /Programs Sales taxes Franchise taxes Primary Government: Utility users tax Other taxes Governmental Activities: Motor vehicle in lieu - unrestricted Use of money and property General government $ 5,373,180 $ 450,911 $ 3,698,780 $ - Public safety 15,005,590 1,565,527 186,463 - Community development 1,781,188 111,008 445,007 - Community services 1,272,680 981,440 145,589 - Public works 6,212,516 1,980,116 1,361,254 - Interest on long -term debt 574,763 - - - Total Governmental Activities 30,219,917 5,089,002 5,837,093 - Business -Type Activities Water Utility 4,267,840 4,924,109 - - Sewer Utility 1,520,478 2,675,201 - - Total Business -Type Activities 5,788,318 7,599,310 - - Total Primary Government $ 36,008,235 $ 12,688,312 $ 5,837,093 $ - General Revenues: Taxes: Property taxes, levied for general purpose Transient occupancy taxes Sales taxes Franchise taxes Utility users tax Other taxes Motor vehicle in lieu - unrestricted Use of money and property Other Extraordinary gain /(loss) Total General Revenues and Extraordinary Items Change in Net Position Net Position at Beginning of Year Restatement of Net Position Net Position at End of Year See Notes to Financial Statements 16 Net (Expenses) Revenues and Changes in Net Position Primary Government Governmental Business -Type Activities Activities 2013 2012 $ (1,223,489) $ - $ (1,223,489) $ (2,837,756) (13,253,600) - (13,253,600) (11,913,900) (1,225,173) - (1,225,173) (685,749) (145,651) - (145,651) 134,181 (2,871,146) - (2,871,146) (2,222,487) (574,763) - (574,763) (693,065) (19,293,822) - (19,293,822) (18,218,776) - 656,269 656,269 211,331 - 1,154,723 1,154,723 1,040,359 - 1,810,992 1,810,992 1,251,690 (19,293,822) 1,810,992 (17,482,830) (16,967,086) 9,958,198 - 9,958,198 10,337,486 1,289,007 - 1,289,007 970,275 5,408,756 - 5,408,756 4,930,037 1,126,398 - 1,126,398 1,008,031 4,732,597 - 4,732,597 5,484,256 328,743 - 328,743 338,176 13,333 - 13,333 12,868 372,693 84,371 457,064 811,116 331,175 5,060 336,235 235,109 - - - (4,731,584) 23,560,900 89,431 23,650,331 19,395,770 4,267,078 1,900,423 6,167,501 2,428,684 103,130,379 43,339,274 146,469,653 144,040,969 (6,861,207) - (6,861,207) - $ 100,536,250 $ 45,239,697 $ 145,775,947 $ 146,469,653 See Notes to Financial Statements 17 CITY OF SEAL BEACH BALANCE SHEET GOVERNMENTAL FUNDS JUNE 30, 2013 Assets: Pooled cash and investments Receivables: Accounts Taxes Accrued interest Due from other governments Due from other funds Restricted assets: Cash and investments with fiscal agents Total Assets Liabilities, Deferred Inflows of Resources, and Fund Balances: Liabilities: Accounts payable Accrued liabilities Unearned revenues Deposits payable Due to other governments Due to other funds Retentions Payable Total Liabilities Deferred Inflows of Resources: Unavailable revenues Total Deferred Inflows of Resources Fund Balances: Restricted for: Community development projects Public safety Community services Public works Debt service General government - grants Assigned to: Capital projects Buildings Storm drain Street improvements Traffic impact fees Swimming pool City clerk donation Old town College park east Unassigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances See Notes to Financial Statements 18 8,382 - - $ 31,005,323 $ 289,787 $ 1,239,648 $ 895,901 $ - $ 1,027,758 204,109 - - 454,264 - - - 289,787 - - - 122,886 1,554,274 289,787 1,150,644 289,787 289,787 - - 89,004 723,650 - - 1,616,501 - - 117,167 - - 4,863,701 - - 13,680 - - 490,000 - - 477,000 - - 21,149,350 (289,787) - 29,451,049 (289,787) 89,004 $ 31,005,323 $ 289,787 $ 1,239,648 Special Capital Revenue Funds Projects Funds Capital Traffic Relief Projects and General Grant Equipment $ 28,165,088 $ - $ 1,239,648 763,454 - - 1,641,802 - - 30,463 - - - 289,787 - 396,134 - - 8,382 - - $ 31,005,323 $ 289,787 $ 1,239,648 $ 895,901 $ - $ 1,027,758 204,109 - - 454,264 - - - 289,787 - - - 122,886 1,554,274 289,787 1,150,644 289,787 289,787 - - 89,004 723,650 - - 1,616,501 - - 117,167 - - 4,863,701 - - 13,680 - - 490,000 - - 477,000 - - 21,149,350 (289,787) - 29,451,049 (289,787) 89,004 $ 31,005,323 $ 289,787 $ 1,239,648 CITY OF SEAL BEACH BALANCE SHEET GOVERNMENTAL FUNDS JUNE 30, 2013 Assets: Pooled cash and investments Receivables: Accounts Taxes Accrued interest Due from other governments Due from other funds Restricted assets: Cash and investments with fiscal agents Total Assets Liabilities, Deferred Inflows of Resources, and Fund Balances: Liabilities: Accounts payable Accrued liabilities Unearned revenues Deposits payable Due to other governments Due to other funds Retentions Payable Total Liabilities Deferred Inflows of Resources: Unavailable revenues Total Deferred Inflows of Resources Fund Balances: Restricted for: Community development projects Public safety Community services Public works Debt service General government - grants Assigned to: Capital projects Buildings Storm drain Street improvements Traffic impact fees Swimming pool City clerk donation Old town College park east Unassigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances See Notes to Financial Statements 19 Other Governmental Funds Totals 2013 2012 $ 2,801,504 $ 32,206,240 $ 29,249,004 78,613 842,067 869,065 1,355 1,643,157 1,348,026 - 30,463 44,170 259,728 549,515 1,484,612 - 396,134 1,427,033 716,063 724,445 763,229 $ 3,857,263 $ 36,392,021 $ 35,185,139 $ 28,498 $ 1,952,157 1,948,309 2,597 206,706 177,581 - - 1,753 - 454,264 310,921 - - 1,427,033 106,347 396,134 - - 122,886 37,011 137,442 3,132,147 3,902,608 215,173 504,960 633,780 215,173 504,960 633,780 772,684 772,684 665,713 95,481 95,481 115,940 17,973 17,973 64,398 1,906,011 1,906,011 1,007,716 713,563 713,563 752,360 56,158 56,158 56,158 - 89,004 87,375 - 723,650 820,542 - 1,616,501 1,783,459 - 117,167 662,948 - - 962,128 - 4,863,701 4,863,701 - 13,680 13,680 - 490,000 - - 477,000 - (57,222) 20,802,341 18,792,633 3,504,648 32,754,914 30,648,751 $ 3,857,263 $ 36,392,021 $ 35,185,139 UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! 20 D,UZ!PGITFBMCFBDI SFDPOD.MBUPO!PGUI F!CBM30DF!TI FFU!PGHPV\FSONFOUBMGd/OET UP!UI F!TUBUFNFOU!PGOFU!OPTdJPO KVOF!41 -!3124 &oe!cbrhodf t !pghpW son f oLbrtayoet Bn pvoLt !sf gpsf e!g)sihpu\f son f orbftdyvyyf t !jo!d f !t rbrf n f odpdof dgptjypo!bsf ejgg sf odcf dbvt f ; !!!!Dbgjrbrtint t f U !of Updef qsf djbypo!i bW !opdcf f o!jodroief e!bt !gobodjbW t pvsdf t !!!!jo!hpu\f son f orb*oe!bdyvW !!!!Woh. Lf sn !ef cdboe!dpn of of bLf e!bct f odf t ! !!!!d bdi bv\f !opdcf f o!jodrvief e!jo!d f !hpv\f son f orbrtayoe!bdyvyLz; !!!!!!Woh.Lf si !rjbcjrjgf t ; !!!!!!!!!!!!!Dbgjrbrtgspgf sz!jn gspv\f n f odrhbt f !!!!Cpoet !gbzbcrh !!!!Dpn of of bLf e!Bct f odf t !!!!Drhjn t !boe!Wehn f opt !!!!H pu\f son f oLbrtayoet !sf gpsdbnVP OFC!dpoL4cvypot !bt !f yqf oejLvsf t - !!!!i px f v\# sijo!d f !t LbLf n f odpdof dgptjypo!boz!f ydf t t f t !psief ddjf odjf t !!!!jo!dpoL4cvypot !jo!sf rhgpo!rp!d f !BoovbriSf r vjsf e!DpoL4cvypo!)BSD *!bsf !!!!sf dpsef e!bt !b!bt t f UpsirjbcjrjE/ !!!!Bdds✓f e!joLf sf t dgbzbcrh!g)sld f !dvs odgpsypo!pdjoLf sf t devf !po !!!!Cpoet !i bt !opdcf f o!sf gpsLf e!jo!d f !hpv\f son f oLbrtayoet / !!!!Sf u\f ovf t !sf gpsrf e!bt !vobvbjrbcrh!sf v\f ovf !jo!d f !hpu\f son f orbrtayoet !boe!sf dphoj {f e !!!!jo!d f !t rbrf n f odpdbdyvgyf t /!Ui f t f !bsf !jodrvief e!jo!d f !joLf shpv\f son f orbrW 4 ovf t !!!!jo!d f !hpv\f son f orb*oe!bdyvyLz/ !!!!.bLf sobrtfi f snjdf !cyoet !bsf !vt f e!cz!n bobhf n f odLp!di bshf W f !dpt U !pddf sbjo !!!!bdyvgyf t -!t vdi !bt !f r vjqn f odn bobhf n f odboe!t f rgjot vsbodf - !rp!joejvgevbrtayoet / !!!!Ui f !bt t d !boe!rjbcjrjof t !pgd f !jorf sobrtfif snjdf !yoet !n vt dcf !beef e!rp!d f !!!!t rbLf n f odpdof dgptjypo/ Of UOptjypo!pgHpd son f or.brtBdyvvjyf t Tf f !OpLf t !rp!gobodjbrffLbd n f opt 21 °/d H.43 -865 -:25 iiii!!!B7 -39: -1: 7 °/d!!!!!!!!!)81 -246* !!!!!)21- 671 -111 * !!!!!!!!!!)898414* !!!!!!!!!!)411 -8: 4* !!!!!!)22- 829 -342* !!!!!!!!!!!!412 -227 !!!!!!!!!!!!!)5: -974* !!!!!!!!!!!!615 -: 71 !!!!!!!!!B-565 -369 001211 -647 -361 DJUZ!PG!TFBMCFBDI TUBUFN FOU!PG!SFV\FOVFT- FYOFOEaUVSFT!BOE!DI BOHFT!JD!GVOE!CBM30DFT HPVFSONFOUBMG%/OET ZFBS!FOEFE!KVOF!41 -!3124 !!!!!!!!!!!!!!!UpLbrtSf v`f ovf t Fyqf oejrvsf t ; Dvsf oy !!!Hf of sbrlfipNf son f ou !!!C)vco!t bj u' !!!Dpn n vojrz!ef v\f rpgn f ou !!!Dpn n vojrz!t f snjdf t !!!CVcrjd!x pd t Dbgj rb#v Lrbz E cdt f Mdf ; !!!!!!Qsjodjgbrhf ysf n f ou !!!!!!.brf sf t dboe!dt dbridi bshf t !!!!!!!!!!!!!!!UprbrtFygf oejLvsf t !!!!!!!!!!!!!!!Fydf t !pdSf vff ovf t !Pv\f s! !!!!!!!!!!!!!!!!!Fygf oejasf t Pd fs!gobodjoh!Tpvsdit!)Vtft ; Usbot I st !jo!)oprf 15* Usbot j st !pvd)oprf 15* !!!!!!!!!!!!!!!UprbrfPd fs!gobodjoh!Tpvsdit !!!!!!!!!!!!!!!!!)Vt f t F y ubpsejo bsz! h bjoQrpt t !!!!!!!!!!!!!!!Of dDi bohf !jo!G✓oe!Cbr!aodf t Gioe!Cbr!aodf t -!Cf hjoojoh!pdZf bs-!bt !qsf v4pvt m!sf gpsrf e Sftrbrfn fod Gioe!Cbr!aodf t -!Cf hjoojoh!pdZf bs-!bt !sf t rbrf e Gioe!Cbrbodf t - !Foe!pdZf bs Tf f !OpLf t !Lp!gobodjbrhTrbrf n f ors 22 !!!!!41 -115 -299 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!2466 -524 !!!!!!!5- 973 -974 !!!!!25- 333 -:19 !!!!!!!2 -23: -743 !!!!!!!2 -293 -827 !!!!!!!!!!i!!i!!!!!!!!. !!!!!!!i!!!!!!!!!HHL !!!!!!!5- 182 -63: !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!i !!!!!!!!!!!!!!!!!HHL !!!!!!!4427 -795 !!!!!!!!!!243 -557 !!!!!!!!!!!!!!9 -277 !!!!!!!5-4:4 -:39 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!)2 -:72 -382* !!!!!!HH45: -111 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!Q -: 73 -: 11 !!!!!!)5- 138 -359' I!!!!!!!!)39: -898' !!!!!!!!!!!!!!!!!!!!!!. !!!!!!)4- 789 -359' !!!!!!!!!)39: !Tqf djbrh !!!!!!!l? -: 73 -: 11 Sf Nf ovf ! !DbgjLbrh !!!!!!!!!)39: -898* Gioet ! Osplf drs !O✓oet !DbgjLbrh !UsbWd!Sf rif 0 Osplf drs !boe! !!!!Hf of sbrh!! HsbOrs Fr vjqn f od Sf\Afovft; Ubyf t OW33- 597 - 218 %d!!!!!!!!!!!!!!!!!!!. o/�!!!!!!!!!!!!!!!!!!!. Mdf of f t !boe!gf sn jd !!!!!!!2- 358 -861 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. .brf shpv�f son f orbm !!!!!!!!!!589- 127 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!2466 -524 Di bshf t !g)s!t f snjdf t !!!!!!!5- 194 -:: 4 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. Vt f !pdn pof z!boe!gspgf srz !!!!!!!!!!46: -12: !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. qof t !boe!g)sjjLvsf t !!!!!!!2- 148434 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. DpotAcvrjpot !gpn !pd f s!hpNf son f od !!!!!!!!!!!21 -31: !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. Njt df nbiof pvt !!!!!!!!!!!112 -882 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!UpLbrtSf v`f ovf t Fyqf oejrvsf t ; Dvsf oy !!!Hf of sbrlfipNf son f ou !!!C)vco!t bj u' !!!Dpn n vojrz!ef v\f rpgn f ou !!!Dpn n vojrz!t f snjdf t !!!CVcrjd!x pd t Dbgj rb#v Lrbz E cdt f Mdf ; !!!!!!Qsjodjgbrhf ysf n f ou !!!!!!.brf sf t dboe!dt dbridi bshf t !!!!!!!!!!!!!!!UprbrtFygf oejLvsf t !!!!!!!!!!!!!!!Fydf t !pdSf vff ovf t !Pv\f s! !!!!!!!!!!!!!!!!!Fygf oejasf t Pd fs!gobodjoh!Tpvsdit!)Vtft ; Usbot I st !jo!)oprf 15* Usbot j st !pvd)oprf 15* !!!!!!!!!!!!!!!UprbrfPd fs!gobodjoh!Tpvsdit !!!!!!!!!!!!!!!!!)Vt f t F y ubpsejo bsz! h bjoQrpt t !!!!!!!!!!!!!!!Of dDi bohf !jo!G✓oe!Cbr!aodf t Gioe!Cbr!aodf t -!Cf hjoojoh!pdZf bs-!bt !qsf v4pvt m!sf gpsrf e Sftrbrfn fod Gioe!Cbr!aodf t -!Cf hjoojoh!pdZf bs-!bt !sf t rbrf e Gioe!Cbrbodf t - !Foe!pdZf bs Tf f !OpLf t !Lp!gobodjbrhTrbrf n f ors 22 !!!!!41 -115 -299 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!2466 -524 !!!!!!!5- 973 -974 !!!!!25- 333 -:19 !!!!!!!2 -23: -743 !!!!!!!2 -293 -827 !!!!!!!!!!i!!i!!!!!!!!. !!!!!!!i!!!!!!!!!HHL !!!!!!!5- 182 -63: !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!i !!!!!!!!!!!!!!!!!HHL !!!!!!!4427 -795 !!!!!!!!!!243 -557 !!!!!!!!!!!!!!9 -277 !!!!!!!5-4:4 -:39 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!)2 -:72 -382* !!!!!!HH45: -111 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!Q -: 73 -: 11 !!!!!!)5- 138 -359' I!!!!!!!!)39: -898' !!!!!!!!!!!!!!!!!!!!!!. !!!!!!)4- 789 -359' !!!!!!!!!)39: -898' !!!!!!!l? -: 73 -: 11 !!!!!!!!!!826 -791 !!!!!!!!!)39: -898* !!!!!!!!!!!!!!2 -73: !!!!!8947: -687 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!98486 !!!!!89- 84647: !!!!!!!!!!!!!!!!!HHL !!!!!!!!!!!!98486 °/d!!8: - 562 -15: IA!!!!!!)39: -898* %d!!!!!!!!!9: -115 DJUZ!PG!TFBMCFBDI TUBUFN FOU!PG!SFV\FOVFT- FYOFOEaUVSFT!BOE!DI BOHFT!JD!GVOE!CBM3ODFT HPVFSONFOUBMG%/OET ZFBS!FOEFE!KVOF!41 -!3124 I Sf\Afovft; Ubyf t Mdf of f t !boe!gf sn jd .bd shpv�f son f orbm Di bshf t !g)s!t f sn df t Vt f !pdn pof z!boe!gspgf sm qof t !boe!g)sjjWSf t DpotAcvypot !gpn !pd f s!hpv�f son f od Njt df nbiof pvt !!!!!!!!!!!!!!!UpLbrtSf v`f ovf t Fyqf oejrvsf t ; Dvssf oy !!!Hf of sbftpv`f son f ou !!!C)vcdd!t bj u' !!!Dpn n vojrz!ef v\f rpgn f ou !!!Dpn n vojrz!t f snjdf t !!!CVcrjd!x pd t Dbgj rb#v ubz E cdt f Mdf ; !!!!!!CAodjgbrid ysf n f ou !!!!!!.bd sf t dboe!dt dbridi bshf t !!!!!!!!!!!!!!!UprbrtFygf oejLvsf t !!!!!!!!!!!!!!!Fydf t !pdSf vff ovf t !Pv\f s! !!!!!!!!!!!!!!!!!Fygf oejWSf t Pd fs!gobodjoh!Tpvsdit!)Vtft ; Usbot I st !jo!)opd 15* Usbot j st ! pv d )o pd ! 5* !!!!!!!!!!!!!!!UprbrfPd fs!gobodjoh!Tpvsdit !!!!!!!!!!!!!!!!!)Vt f t F y ubpsejo bsz! h bjoQrpt t !!!!!!!!!!!!!!!Of dDi bohf !jo!G✓oe!Cbrbodf t Gioe!Cbrbodf t -!Cf hjoojoh!pdZf bs-!bt !qsf v4pvt m!sf gpsd e Sftrbdnfod Gioe!Cbrbodf t -!Cf hjoojoh!pdZf bs-!bt !sf t rbd e Gioe!Cbrbodf t - !Foe!pdZf bs Tf f !OpLf t !Lp!gobodjbrhTrbrf n f od 23 Pd f s Up rbm H p\Af son f o dbrr O✓oet 3124 3123 0/3!!!!12456435 0/3!!84- 942 -542 0/3!!!!35- 276 -994 !!!!!!!2- 358 -861 !!!!!!!!!!!!:37 -872 !!!!!!!P- 279 -9:3 !!!!1M- 113432 !!!!!!!!!6 -169 -286 !!!!!!!!!!M4 -152 !!!!!!!5- 228 -145 !!!!!!!!!5 -155 -677 !!!!!!!!!!!!124 -785 !!!!!!!!!!?183 -7:4 !!!!!!!!!!!!825 453 !!!!!!!!!!!!86 -95: !!!!!!!Q -174 -283 !!!!!!!!2- 196 -3:2 !!!!!!!!!!1112 -882 !!!!!!!!!!!!345 -6:8 !!!!!!!8- 697 -891 11111114 -: 57492 !!!!!!!47 -33: -726 !!!!!!!!!!2:: - 715 !1!!1!!6- 173 - 578 !!!!!!!!!6 -27: -8: : !!!!!!!!!!848 -:36 !!!!!25 -571 -944 !!!!!!24 -:59 -774 !!!!!!!!!!B:1 -544 !!!!!!!Q -531 -176 !!!!!!!!2464 -179 !!!!!1!!i!1!!!!!!!!!!!. !1!!1!!2- 293 -827 !!!!1!!!!!!!991 -:94 !1!!1!!!!1!!96- 198 1!!11!!5- 267 - 727 !!!1!!1115 -158 -124 !!!!!!!!!!!!!!!!!!!!!!. !!!111 4 427 -795 !!111!11!6- 641 -686 !!!!!!!2- 713 -111 !!!!1!!12- 845 -557 !!!!!!!!!3 -2:6 -125 !!!!!!!!!!665 -129 !!!!!!!!!!673 -295 !!!!!!!!!!!!8:1 -692 !!!!!!!B -: 7: -178 11111112 -9: 7 -122 !!!!!!!44 -: 26 -7: 7 !!!!!!!!!)493 -398' !!!!!!!8- 161481 !!!!!!!!!3-424 -:2: !!!!!M- 624 -643 !!!!!!!6- 936 -543 !!!!!!!!!9 -31: -136 111!11)2- 9294: 8* 111111)7- 246 -543' !!!!!!!D9 -31: -136* 11!11!!2 -7:6 -246 111HHH)421 -111" !!1!111!!11!!!!!!!1!111! !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!L !!!1!11D8.929.678- 11111112 423 -959 !!!!!!!2-851481 !!!!!!!D6-615-759- !!!!!!!8 -2:2 -911 11111111- 759 -862 !!!!!!!47- 2644:: !!!!!1!!!!!!!!!!!!!!!!. 1!!!!!!!!!1176.8: 4 1!111!!!!!!1!!!!!!!11!!! !1!!!!!B -2:2 -911 11111112 -125 -655 !!!!!!!47- 264 -4:: °/3!!!!11 -615 -759 °/V43- 865 -:25 0/3!!!!41- 759 -862 D,UZ!PC.TFBMCFBDI SFDPOD,MBU,PO!PC.UI F! TUBUFNFOU !PC.SFV\FOVFT- !FYOFOE UVSFT- BOE!DI BOHFT!, JJ! GVOE !CBM30DFT!PC.HPV\FSONFOUBMGVOET UPIUI F!TUBUFNFOU!PC.BDU,)MFT ZFBS!FOEFE!KVOF!41 -!3124 Of Udi bohf !jo!g/oe!cbrbodf t !.!rprbftpvv# son f orbrlyoet Bn pvort !sf gpsf e!gDdhpv\f son f orbftdrjvyrjf t !jo!d f !t rbrf n f odpcjbdrjv of t !bsf ejgg sf odcf dbvt f ; !!!!Hpv\f son f orbrkyoet !sf gpsJdbgjrb#vulazt !bt !f yqf oejrvsf t /!I px f Nf s -!jo!d f !t rbrf n f ou !!!!pdbdyvyyf t -!u f !dpt d !pdd pt f !bt t f Lt !jt !brrpdbrf e!pv\f s!u f js!f ton brf e!vt f g/W t !!!!bt !ef qsf djbypo!f yqf of f /!Ui jt !jt !u f !bn pvodcz!x i jdi !dbgjrb#vu!azt !f ydf f of e !!!!ef qsf djbypo!jo!u f !dvssf odgf 1pe/ D bqj rb #v ulaz Ef qsf djbypo H bjop pt t *!po!ejt qpt brl! ddbgjrbrltot t f d !!!!Sf gbzn f odpdcpoe!glodjgbrljlt !bo!f yqf oejrvsf !jo!d f !hpv\f son f orbrlayoet -!cvdd f !!!!sf gbzn f odsf evdf t !rpoh. rf si !rjbcjrAf t !jo!d f !t rbrf n f odpdof dgptjypo/ C)Iodjgbrlsf qbzn f ort !!!!Bdds✓f e!jorf I t dg)s!rpoh. rf si !rpcjrAf t /!Ui jt !jt !d f !of ddi bohf !jo!bddsf e!jorf I t u !!!!g)s!d f !dvssf odgf 1pe/ !!!!Drbjn t !boe!Ivehn f oddi bohf t !sf gpsf e!jo!u f !t rbrf n f odpdbdyvyyf t !ep!opu !!!!sf r vjsf !u f !vt f !pddvsd odjobodjbW t pvsdf t !boe -!u f sf g)sf -Ibsf !opdsf gpsf e!bt !!!!f yqf oejuisf t !jo!hpuvf son f orbrluyoet / !!!!Dpn of of brf e!bct f odf t !f yqf of f t !sf gpsf e!jo!d f !t rbrf n f odpdbdyvyyf t !ep!opu !!!!sf r vjsf !u f !vt f !pddvssf oddobodjbrW t pvsdf t !boe -!u f sf g)sf -!bsf !opdsf gpsf e!bt !!!!f yqf oejrvsf t !jo!hpvvf son f orbrluyoet / !!!!Hpwf son f orbrlayoet !sf gpsJbrrldpou�cvypot !jo!sf rbgpo!rp!d f !boovbw r vjsf e !!!!dpotAcvypo!)BSD *!g)dP OFC!bt !f yqf oejrvsf t -!i px f wf S!jo!d f !t rbrf n f ou !!!!pdbdyvyrjf t !pormid f !BSD!jt !bo!f yqf of f / !!!!Sf v\f ovf t !sf gpsf e!bt !vobwbjrbcrh!sf v\f ovf !jo!d f !hpu`f son f orb*oet !boe!sf dphoj {f e !!!!jo!d f !t rbrf n f odpdbdyvyyf t /!Ui f t f !bsf !jodmef e!jo!u f !jorf shpvvf son f orbrlsf vv# ovf t !!!!jo!d f !hpv\f son f orbrluyoe!bdyvyuJ !!!!,brf sobrrh f snjdf !gtoet !bsf !vt f e!cz!n bobhf n f odrp!di bshf !d f !dpt d !pddf sbjo !!!!bdyvyyf t -!t vdi !bt !f r vjqn f odn bobhf n f odboe!t f rgjot vsbodf - !rp!joejvyevbrlayoet / PHUT f !of dsf vvf ovf t !)f yqf of f t *!pdd f !jorf sobrrh f snjdf !gtoet !jt !sf gpsf e!x jd !!!!hpv\f son f orbrltndrjvyrjf t / Di bohf !jo!ofrJgptjypo!pjhpdson forbriibdyvyyft Tf f !Oprf t !Lp!gobodjbrhTLbLf n f orf 24 °/d! H U-851 -481 °/d!!!!!4- 285 -455 !!!!!!!)3 -588 -861 !!!!!!!!!!!!)68 -567* !!!!!!!!!!!74: -249 !!!!!!!!2 -845 -557 !!!!!!!!!!!!)23 -68: * !!!!!!!!!!!!!52 -366 !!!!!!!!!!!!)58 -379* !!!!!!!!!!!!!!)6 -941 * !!!!!!!!!!)239 -931 * !!!!!!!!!!!417 -477 °/d!!!!!5 -378 -189 CITY OF SEAL BEACH BUDGETARY COMPARISON STATEMENT GENERALFUND YEAR ENDED JUNE 30, 2013 Budgetary Fund Balance, July 1, as restated Resources (Inflows): Taxes Licenses and permits Intergovernmental Charges for services Use of money and property Fines and forfeitures Contributions Miscellaneous Transfers in Amounts Available for Appropriation Charges to Appropriation (Outflow): General government Public safety Community development Community services Public works Debt service: Principal retirement Interest and fiscal charges Transfers out Total Charges to Appropriations Budgetary Fund Balance, June 30 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) $ 28,735,369 $ 28,735,369 $ 28,735,369 $ - 20,953,000 1,177,400 209,400 3,843,900 568,000 1,013,100 201,900 1,212,499 57,914,568 20,953,000 1,177,400 451,400 3,843,900 568,000 1,013,100 203,300 1,212,499 58,157,968 4,794,896 4,821,227 14,570,327 14,695,112 884,914 984,914 1,201,648 1,214,048 4,128,743 4,289,346 109,930 109,930 6,777 6,777 7,565,029 8,197,084 33,262,264 34,318,438 $ 24,652,304 $ 23,839,530 See Notes to Financial Statements 25 22,486,107 1,247,750 478,016 4,083,993 359,019 1,037,323 10,209 301,771 349,000 59,088,557 1,533,107 70,350 26,616 240,093 (208,981) 24,223 10,209 98,471 (863,499) 930,589 4,862,863 (41,636) 14,222,908 472,204 1,129,632 (144,718) 1,182,716 31,332 4,071,529 217,817 132,446 (22,516) 8,166 (1,389) 4,027,248 4,169,836 29,637,508 4,680,930 $ 29,451,049 $ 5,611,519 UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! W DJJZ!PG!TFBMCFBDI CVEHFUBSZ!DP N QBSJFPO!TUBUFN FOU USBGGD!SFMFG!HSBOU ZFBS!FOEFE!KVOF!41 -!3124 Tf f !OpLf t !rp!gobodjbrhTrbLf n f oU 27 V\bsjbodf !x j gobrtCvehf u Cvehf UBn pvoLt BdLvbm QptAAf Psjhjobm gobm Bn pvoLt )Ofhbywf* CvehfLbsz!Gdoe!Cbrbodf- !Kvm!2 i Sf t pvsdf t !).bgpx t *; .bLf shp\Af son f orbm !!!!!!!!!!!!!!!!!!_ !!!!!!!!429 -111 !!!!!!!!!!!!!!!!!!! !!!!!!! 429 -111* Vt f !pdn pof z!boe!gspgf su? Bn pvoLt !BvAbjrbcrh!gDs!Bggspqsjbypo !!!!!!!!!!!!!!!!!!_ !!!!!!!!429 -111 !!!!!!!!!!!!!!!!!!! !!!!!!! 429 -111* Di bshft !Lp!Bggspqsjbypo!)Pvugpx *; Usbotgst!pvu !!!!!!!!!!!!!!!!!!_ !!!!!!!!429 -111 !!!!!!B9: -898 !!!!!!!!!!B9 -324 UpLbrtDi bshf t !Lp!Bggspgsjbypot !!!!!!!!!!!!!!!!!!_ !!!!!!!!429 -111 !!!!!!B9: -898 !!!!!!!!!!B9 -324 Cvehf rbsz!G✓oe!Cbrhodf -!Kvof !41 °/b!!!!!!!!!!!!!!!. °/d!!!!!!!!!!!!!!!!! 00d 39: -898* °/b H! 39: -898* Tf f !OpLf t !rp!gobodjbrhTrbLf n f oU 27 CITY OF SEAL BEACH STATEMENT OF NET POSITION PROPRIETARY FUNDS JUNE 30, 2013 Assets: Current: Cash and investments Receivables: Accounts Prepaid costs Total Current Assets Noncurrent: Deferred charges Capital assets (note 5): Buildings and improvements Machinery and equipment Vehicles Infrastructure Construction in progress Accumulated depreciation Total Noncurrent Assets Total Assets Deferred Outflows of Resources: Deferred charge on refunding Total Deferred Outflows of Resources Liabilities: Current: Accounts payable Accrued liabilities Deposits payable Retentions Payable Accrued compensated absences Bonds, notes, and capital leases Total Current Liabilities Noncurrent: Accrued compensated absences Bonds, notes, and capital leases Total Noncurrent Liabilities Total Liabilities Net Position: Net investment in capital assets Unrestricted Total Net Position Business -Type Activities - Enterprise Funds Water Utility Sewer Utility $ 9,005,521 $ 4,295,997 $ 13,301,518 $ 12,205,889 779,526 400,462 1,179,988 1,026,440 - 17,074 9,785,047 4,696,459 14,481,506 13,249,403 73,284 - 531,044 785,802 280,634 132,331 29,878,924 29,070,779 1,077,123 5,438,711 (15,605,821) (13,650,120) 16,235,188 21,777,503 26,020,235 26,473,962 - 76,054 73,284 73,284 1,316,846 1,316,846 412,965 325,774 58,949,703 58,395,953 6,515,834 4,666,880 (29,255,941) (28,173,795) 38,012,691 36,680,996 52,494,197 49,930,399 - 193,125 193,125 193,125 193,125 $ 767,553 $ 683,859 21,829 9,829 7,865 - 73,816 194,860 62,809 10,752 13,306 291,809 947,178 1,191,109 24,075 30,309 61,474 5,193,480 85,549 5,223,789 1,032,727 6,414,898 16,160, 408 16,485, 339 8,827,100 3,766,850 $ 24,987,508 $ 20,252,189 See Notes to Financial Statements 28 $ 1,451,412 $ 1,617,948 31,658 32,081 7,865 5,600 268,676 154,410 73,561 58,771 305,115 132,672 2,138,287 2,001,482 54,384 50,751 5,254,954 4,538,892 5,309,338 4,589,643 7,447,625 6,591,125 32,645,747 32,020,831 12,593,950 11,318,443 $ 45,239,697 $ 43,339,274 CITY OF SEAL BEACH STATEMENT OF NET POSITION PROPRIETARY FUNDS JUNE 30, 2013 Assets: Current: Cash and investments Receivables: Accounts Prepaid costs Total Current Assets Noncurrent: Deferred charges Capital assets (note 5): Buildings and improvements Machinery and equipment Vehicles Infrastructure Construction in progress Accumulated depreciation Total Noncurrent Assets Total Assets Deferred Outflows of Resources: Deferred charge on refunding Total Deferred Outflows of Resources Liabilities: Current: Accounts payable Accrued liabilities Deposits payable Retentions Payable Accrued compensated absences Bonds, notes, and capital leases Total Current Liabilities Noncurrent: Accrued compensated absences Bonds, notes, and capital leases Total Noncurrent Liabilities Total Liabilities Net Position: Net investment in capital assets Unrestricted Total Net Position See Notes to Financial Statements 29 Governmental Activities - Vehicle Replacement Internal Service Fund $ 1,957,270 $ 1,895,100 1,957,270 1,895,100 169,204 - 927,127 356,919 (101,397) (67,629) 994,934 289,290 2,952,204 2,184,390 $ 497,946 $ 36,498 497,946 36,498 497,946 36,498 994,934 289,290 1,459,324 1,858,602 $ 2,454,258 $ 2,147,892 CITY OF SEAL BEACH STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION PROPRIETARY FUNDS YEAR ENDED JUNE 30, 2013 Operating Expenses: Administration and general Business -Type Activities - Enterprise Funds 670,545 4,382,951 Water Utility Sewer Utility 2013 2012 Operating Revenues: 1,083,738 Total Operating Expenses 4,263,438 1,327,784 Sales and service charges $ 4,924,109 $ 2,675,201 $ 7,599,310 $ 6,819,514 Miscellaneous 1,839 3,221 5,060 4,112 Total Operating Revenues 4,925,948 2,678,422 7,604,370 6,823,626 Operating Expenses: Administration and general 3,712,406 670,545 4,382,951 4,326,801 Amortization and Depreciation expense 551,032 657,239 1,208,271 1,083,738 Total Operating Expenses 4,263,438 1,327,784 5,591,222 5,410,539 Operating Income (Loss) 662,510 1,350,638 2,013,148 1,413,087 Nonoperating Revenues (Expenses): Interest revenue 55,415 28,956 84,371 96,774 Interest expense (4,402) (192,694) (197,096) (157,285) Total Nonoperating Revenues (Expenses) 51,013 (163,738) (112,725) (60,511) Income (Loss) Before Transfers 713,523 1,186,900 1,900,423 1,352,576 Transfers in - - - - Changes in Net Position 713,523 1,186,900 1,900,423 1,352,576 Extraordinary gain /(loss) - - - (1,200,000) Net Position: Beginning of Year 24,273,985 19,065,289 43,339,274 43,186,698 End of Fiscal Year $ 24,987,508 $20,252,189 $45,239,697 $ 43,339,274 See Notes to Financial Statements 30 CITY OF SEAL BEACH STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION PROPRIETARY FUNDS YEAR ENDED JUNE 30, 2013 Operating Revenues: Sales and service charges Miscellaneous Total Operating Revenues Operating Expenses: Administration and general Amortization and Depreciation expense Total Operating Expenses Operating Income (Loss) Nonoperating Revenues (Expenses): Interest revenue Interest expense Total Nonoperating Revenues(Expenses) Income (Loss) Before Transfers Transfers in Changes in Net Position Extraordinary gain /(loss) Net Position: Beginning of Year End of Fiscal Year See Notes to Financial Statements 31 Governmental Activities -Vehicle replacement Internal Service Fund 2013 2012 35,654 35,654 5,520 48,104 33,768 33,768 39,288 81,872 (3,634) (81,872) (3,634) (81,872) 310,000 - 306,366 (81,872) 2,147,892 2,229,764 $ 2,454,258 2,147,892 DJJZ!PGTFBMCFBDI TUBUFNFOU!PG!DBTI !GNPXT OSPOS,FUBSZ!GJOET ZFBS!FOEFE!K\/OF!41 -!3124 Dbt i !Grpx t !gpn !Pqf sbooh!Bdovyof t ; Dbt i !sf df jW e!gpn !dvt rpn f st !boe!vt f st Dbt i !gbje!rp!t vggrjfi st !g)sihppet !boe!t f srydf t Dbt i !gbje!rp!f n grpzf f t !g)-qt f s�df t Of dDbt i !Csp\yef e!)Vt f e *!cz!Pgf sbooh!Bdq\ygf t Dbt i !Grpx t !gpn !Dbgjrbrn boe!Sf rbrf e!gobodjoh!Bdovyof t ; Qspdf f et !gpn !dbgjrbrlef cu Bdr vjtjopo!boe!dpot Lwdopo!pddbgjrbrlbt t f d C)Iodjgbrlu!bje!po!dbgjrbrlef cu ,bd sf t dgbje!po!dbgjrbrtef cu Of dDbt i !Csp\yef e!)Vt f e *!cz !!!Dbgjrbrtboe!Sf rbrf e!gobodjoh!Bdq\ygf t Dbt i !Grpx t !gpn !Opo.Dbgjrbm gobodjoh!BdgAqf t ; Dbt i !uEbot I st !jo / Of dDbt i !CspAef e!)Vt f e *!cz ! !!!Opo.Dbgjrbrtgobodjoh!Bdyvyyf t Dbt i !Gpx t !gpn !,bwf t ooh!Bdq\ygf t ; ,brfsftdddfjutfe Of dDbt i !Csp\yef e!)Vt f e *!cz ,bd t ooMBdq\ygf t Of Ll bdsf bt f !)Ef dsf bt f *!jo!Dbt i boe!Dbti !Frvj\brhod Dbt i !boe!Dbt i !Frvj\Abrhod !bdCf hjoojoh!pdZf bs Dbt i !boe!Dbt i !Fr vj\Abrhor.t !bdFoe!pdZf bs Sf dpodjrjbopo!pdPgf sbooh!,bdpn f !rp!Of dDbt i Csp\yef e!)Vt f e *!cz!Pgf sbooh!Bdq\ygf t ; Pqf sbooh!jodpn f !)rpt t * Beloit Ln f od !r.p!sf dpodjrh!pgf sbooh!jodpn f !)rpt t !!of ddbt i !gsp\yef e!)vt f e *!cz!pgf sbooh!bdq\ygf t ; Ef qsf djbopo!boe!bn psj(bopo ),bdsf bt f *!ef dsf bt f !jo!bddpvod !sf dfj\Abcrfi ),bdsf bt f *!ef dsf bt f !jo!qsf qbje!f yqf of f ,bdsf bt f !)ef dsf bt f *!jo!bddpvod !gbzbcrh ,bdsf bt f !)ef dsf bt f *!jo!sf d oopot !gbzbcrfi ,bdsf bt f !)ef dsf bt f *!jo!ef gptjd !gbzbcIn ,bdsf bt f !)ef dsf bt f *!jo!bdds/f e!*cjrjgf t ,bdsf bt f !)ef dsf bt f *!jo!dpn of of bd e!bct f odf t UprbrtBekit un f or.t Of dDbt i !Osp\yef e!)Vt f e *!cz! !!!Pqf sbooh!Bdowjof t Opo.Dbt i !,bwf t ooh- !Dbgjrbr+lboe!gobodjoh!Bdyvyyf t ; Bn psy( bopo!pdcpoe!ejt dpvor, Bn pst ( bopo!pdef I ssf e!ef cdjt t vbodf !dpt d HbjoQWt t *!po!,bNf t rn f od HbjoQWt t *!po!,bwf t rn f odjo!KpjodW oasf Hpvef son f orbt Bdq\ygf t .! W jdrh! Sf grbdf n f od Cvtjof t t .Uzgf !Bdowjof t !.!FOd sgsjt f !O/oet bLf sobrn X brf s!VOr* Tf x f s!Vq* Uprbrh Tf &u df !G/oe °/b!!!!5- 914 -59: 'A!!!!13 -75: -6: 9 °/b!!!!B -564 -198 °/b!!!!!!!!!46 -765 !!!!!!!!!)853 -21: * !!!!!!!!!!452 -324 !!!!!!!!!511 -9: 7* !!!!!!!!!!566 -: 39 !!!!!!)44: 2 -111* !!!!!!!!!719 -362* !!!!!!g4 -::: -362* !!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!981491 !!!!!!!B493 -671 !!!!!!!!4- 163 -:51 !!!!!!!!!!5:2 -693 ! !!!!!!!!!!! 4: -819 !!!!!!!!!!r 4: -819 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!! 694- 543* ! HH! 2 -: 55- 574* !!!!!!)3- 638 -9: 6* !!!!!!!!!)84: -523* !!!!!!!!!!!)23 -784* !!!!!!!!!)354 -837* !!!!!!!!!)3674:: * !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!)5 -513* !!!!!!!!!�2:3 -7: 5* !!!!!!!!!�2:8 -1: 7* !!!!!!!!!!!!!!!!!!!!!! !!!!!!!!! 711 -618* ! HH! 2 -552 -286* !!!!!!)3 -152 -793* !!!!!!!!!)84: -523* !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!421 -111 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!421 -111 !!!!!!!!!!!!66 -526 !!!!!!!!!!!!89 -:67 !!!!!!!!!!!!95482 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!66 -526 !!!!!!!!!!!!B9 -:67 !!!!!!!!!!!!85482 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!1236 -399 !!!!!!!!!!t 81452 !!!!!!!2 -1: 6 -73: !!!!!!!!!!!!93 -281 !!!!!!!9- 991 -344 !!!!!!!4436 -767 !!!!!23- 316 -99: !!!!!!!2 -9:6 -211 %!!!!t -116 -632 %!!!!5 -3: 6 -:: 8 °/d!!24412 -629 %!!!!2 -: 68 -381 °/b!!!!!!!973 -621 °/b!!!!2461 -749 °/b!HM -124 -259 °/b!!!!!!HH)4 -745* !!!!!!!!!! 662 - 143 !!!!!!!!!!968 -34: !!!!!!!2- 319 - 382 !!!!!!!!!!!!44 -879 !!!!!!!!!)235 -835* !!!!!!!!!!!)39 -935* !!!!!!!!!264 -659* !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!28 -185 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!128 -185 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!528 -6: 9* !!!!!!!!!!1362 -173 !!!!!!!!!)277- 647* !!!!!!!!!!572 -559 !!!!!!!!!!!�36 -664* !!!!!!!!!!124: -92: !!!!!!!!!!225 -377 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!B -376 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!B -376 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!2 -5:3 26* !!!!!!!!!!!!!!!!)534* !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!4 -993 !!!!!!!!!!!!25 -652 !!!!!!!!!!!!129 -534 !!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!B- 981 !!!!!!!2 -142 -: 33 !!!!!!!2 -14: -8: 3 !!!!!!!!!!5: 6 -327 °/b!!!!!!!981491 °/b!!!!8493 -671 °/b!!!!4- 163 -:51 °/b!!!!!!!5:2 -693 OW!!!!!!!!!!!!!!!!!!. OW!!!!!!!23 -182 °/b!!!!!!!!!23 -182 °/b!!!!!!!!!!!!!!!!!!!. Tf f !Oprf t !r.p!gobodjbrtTLbd n f od 32 D,UZ!PGITFBMCFBDI TUB UFN FOU!PGGEVD BSZ!OFU!OPTJJP0 GEVD.BSZ!Gd/OET KVOF!41 -!3124 BttfLt; Opprhe!dbt i !boe!jovd t u1 f od S f df j\Abc rht ; Bddpvod OpLf t !boe!rpbot Bdds✓f e!joLf sf t u Sf t u�dd e!bt t f d ; Dbt i !boe!jo\nf t u1 f od N jd !dt dbrt!uhf od D bgj Lbftt t f d ; Dbgjrbrtbt t f d - !opdcf joh!ef qsf djbd e Dbgjrbrtfit t f d -!of dpdbddvn vrbd e!ef qsf djbypo UpLbrtBt t f d NjbcjrAf t ; Bddpvod !gbzbcrh Bdds✓f e!rjtocjrjgf t Ef gptjd !gbzbcrh Evf !rp!cpoei prof st IVpoh. d sn !rjbcjrjgf t ; Evf !jo!pof !zf bs Evf !jo!n psf !d bo!pof !zf bs Up LbrIM bcj rN f t Of dOptjypo; I f ra!jo!uwt dg)s!pu f s!gvsgpt f t UpLbrfCf LlOptjypo Bhf odz!&oet 3124 °/d H2 -128 -: 59 !!!!!!!!!!!!8: -96: !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! !!!! H2417 -836 !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! 3123 OA!!!!!!!P: 8 -761 !!!!!!!!!!!!83 -742 !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!2411 -325 !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! vebLf .CNsaDt f !Usvt LI&oe! !Tvddf t t ps!Bhf odz!pdu f Gpsn f s!SEB! 3124 3123 °/d!!!!!!!887 -55: °/d17-823 -641 !!!!!!!!!!!!29 -196 2 -:82 -887! !!!!!!!!!!!!!!!!!549 6 -534! !!!!!!!!!!851 -879 851 -879! !!!!!!!!!!514 -2:3 514 -2: 3! !!!!!!!!!!498 -976 52: -: 24! °/d!!!!8 -465 -643 °/d!!!!8- 131 -5:6 °/d!!!!8 -437 -8:8 °/21 -364 -713! oW!!!!!!!!!!!!HHH °/d!!!!!!!!!!!Q -277 °/d!!!!!!!!!!!!!!!!!!!! OA2 -12: -692 !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!B8 -: 3: .! !!!!!!!!!!g95 -879 !!!!!!!!!!1184 -752 !!!!!!!!!!!!!!!!!!!!!!! .! !!!!!!!12-77: -875 !!!!!!!2- 756 -799 !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!5:6 -111 581 -111! !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!5- 271 -111 5- 766 -111! 000-465 -643 °/d!!!!8- 131 -5:6 !!!!!!!5 -843 -:3: !!!Y- 255 -692 Tf f !OpLf t !rp!gobodjbrffLbd n f opt 33 !!!!!!)3 -517 -243* 5 -21: -132! °/d!!!)3 -517 -243* OA5 -21: -132 CITY OF SEAL BEACH STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FIDUCIARY FUNDS YEAR ENDED JUNE 30, 2013 Additions: Taxes Interest and change in fair value of investments Miscellaneous Total Additions Deductions: Administrative expenses Contractual services Interest expense Depreciation expense Reimbursement of prior taxes to County Total Deductions Extraordinary gain /(loss) Changes in Net Position Net Position - Beginning of the Year Net Position - End of the Year See Notes to Financial Statements 34 Private - Purpose Trust Fund Successor Agency of the Former RDA $ 1,357,253 $ 665,838 (25) 15,285 1,357,228 681,334 1,365,122 129,269 10,327 8,130 330,684 132,005 32,048 14,912 6,134,200 1,019,581 7,872,381 1,303,897 4,731,584 (6,515,153) (622,563) 4,109,021 - $_2,406,132 $ 4,109,021 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS JUNE 30, 2013 I. SIGNIFICANT ACCOUNTING POLICIES Note 1: Organization and Summary of Significant Accounting Policies The basic financial statements of the City of Seal Beach, California (City) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to Government units. The Governmental Accounting Standards Board (GASB) is the accepted standard - setting body for establishing governmental accounting and financial reporting principles. The more significant of the City's accounting policies are described in the following pages: a. Description of the Reporting Entity The City of Seal Beach (City) was incorporated on October 27, 1915, under the laws of the State of California and enjoys all the rights and privileges applicable to a charter city. It is governed by an elected five - member council. As required by accounting principles generally accepted in the United States of America, these financial statements present the City of Seal Beach (the primary government) and its component units. The component units discussed below are included in the reporting entity because of their operational or financial relationships with the City of Seal Beach. Blended Component Units: The Seal Beach Public Financing Authority (Authority) was formed May 8, 2000 pursuant to Articles 1 through 4 of Chapter 5, Division 7, Title 1 of the California Government Code, to create a joint exercise of powers authority between the City of Seal Beach and the former Seal Beach Redevelopment Agency. The City Council of the City of Seal Beach is the governing board. The Authority was formed to undertake the financing of public capital improvements. The City has accounted for the Authority as "blended" component unit. Despite being legally separate, the Authority is so intertwined with the City that it is, in substance, part of the City's operations. The Authority has not had any activity for the year ended June 30, 2013. b. Government -Wide and Fund Financial Statements The government -wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the nonfiduciary activities of the primary government and its component units. All fiduciary activities are reported only in the fund financial statements. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business -type activities, which rely to a significant extent on fees and charges for support. 35 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 1: Organization and Summary of Significant Accounting Policies (Continued) The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items are properly not included among program revenues are reported instead as general revenues. While separate government -wide and fund financial statements are presented, they are interrelated. The governmental activities column incorporates data from governmental funds and internal service funds, while business -type activities incorporate data from the government's enterprise funds. Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government -wide financial statements. The fund financial statements provide information about the government's funds, including its fiduciary funds and blended component units. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. c. Measurement Focus, Basis of Accounting and Financial Statement Presentation The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. The Agency funds, however, are unlike all other types of funds, reporting only assets and liabilities. Therefore, the Agency funds cannot be said to have a measurement focus. They do, however, use the accrual basis of accounting to recognize receivables and payables. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due. Property taxes, franchise fees, licenses and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue 0 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 1: Organization and Summary of Significant Accounting Policies (Continued) of the current period. All other revenue items are considered to be measurable and available only when cash is received by the government. The private - purpose trust funds are reported using the economic resources measurement focus and the accrual basis of accounting. d. Fund Classification The City reports the following major governmental funds General Fund - This fund is used to account for most of the day -to -day operations of the City, which are financed from property taxes, utility user taxes, sales tax and other general revenues. Activities financed by the General Fund include police services, fire services, community services, general administration, engineering, and planning. Traffic Relief Grant Fund — The State established the Traffic Congestion Improvement Act funded by the passage of Prop 42 which mandated that revenues resulting from the state sales and use taxes on the sale of motor vehicle fuel be used for transportation purposes. In November, 2006, the voters approved the sale of General Obligation Bonds by the State to fund state and local transportation projects to relieve congestion, improve movement of goods, improve air quality and enhance safety and security of the transportation system. Capital Projects and Equipment Fund — This fund accounts for financial transactions of general capital improvements. The City reports the following major proprietary funds: Water Utility Enterprise Fund — This fund accounts for the operation and maintenance of the City's water distribution system. Sewer Utility Enterprise Fund — This fund accounts for the financial transactions of the City's waste water collection system. Additionally, the City reports the following fund types: Special Revenue Funds — These funds are used to account for the proceeds of specific revenue source that are legally restricted or otherwise designated for specific purposes. Debt Service Funds — These funds account for the servicing of the long -term debt not being financed by proprietary or nonexpendable trust funds. Internal Service Fund — This fund accounts for vehicle replacements. Departments of the City are charged for services provided or benefits received from these funds. For the current year, departments were not charged for services. Agency Funds — These funds are used to account for money and property held by the City as trustee or custodian. They are also used to account for various assessment districts for which the City acts as an agent for debt service activity. 37 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 1: Organization and Summary of Significant Accounting Policies (Continued) Private Purpose Trust Fund — This fund accounts for the assets and liabilities of the former redevelopment agency and is allocated revenue to pay estimated installment payments of enforceable obligations until obligations of the former redevelopment agency are paid in full and assets have been liquidated. As a general rule, the effect of interfund activity has been eliminated from the government -wide financial statements. Exceptions to this general rule are charges between the government's proprietary funds function and various other functions of the government. Elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned. Amounts reported as program revenues include: 1) charges to customers or applicants for goods, services or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. When both restricted and unrestricted resources are available for use, it is the government's policy to use restricted resources first, then unrestricted resources as they are needed. e. Assets, Liabilities, Deferred Outflows, Deferred Inflows and Net Position or Equity 1. Deposits and Investments The City's cash and cash equivalents are considered to be cash on hand, demand deposits and short -term investments with original maturities of three months or less from the date of acquisition. For financial statement presentation purposes, cash and cash equivalents are shown as both restricted and unrestricted cash and investments in the proprietary funds. Investments for the City, as well as for its component units, are reported at fair value. The City's policy is generally to hold investments until maturity or until market values equal or exceed cost. The State Treasurer's Investment Pool operates in accordance with appropriate state laws and regulations. The reported value of the pool is the same as the fair value of the pool shares. 2. Receivables and Payables Activity between funds that are representative of lending /borrowing arrangements outstanding at the end of the fiscal year are referred to as "due to /from other funds" (i.e., the current portion of interfund loans) or "advances to /from other funds" (i.e., the noncurrent portion of interfund loans). All other outstanding balances between Funds 38 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 1: Organization and Summary of Significant Accounting Policies (Continued) are reported as "due to /from other funds ". Any residual balances outstanding between the governmental activities and business -type activities are reported in the government -wide financial statements as "internal balances ". All trade and property tax receivables are shown net of an allowance for uncollectible amounts. Property tax revenue is recognized on the modified accrual basis, that is, in the fiscal year for which the taxes have been levied providing they become available. Available means then due, or past due and receivable within the current period and collected within the current period or expected to be collected soon enough thereafter to be used to pay liabilities of the current period. 3. Functional Classifications Expenditures of the Governmental Funds are classified by function. Functional classifications are defined as follows: General government includes legislative activities, which have a primary objective of providing legal and policy guidelines for the City. Also included in this classification are those activities which provide management or support services across more than one functional area. Public safety includes those activities which involve the protection of people and property. Community development includes those activities which involve the enhancing of the general quality of life. Community services include those activities which involve the community cultural and leisure activities. Public works includes those activities which involve the maintenance and improvement of City streets and roads, and park department development and maintenance. 4. Prepaid Items Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government -wide and fund financial statements. These payments are recorded as expenditures when consumed rather than when purchased. The fund balances in the governmental fund types have been classified as nonspendable for amounts equal to the prepaid items in the fund -level statements, since these amounts are not available for appropriation. 5. Capital Assets Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the applicable governmental or business -type activities columns in the government -wide financial statements. Capital assets are defined by the City as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or 39 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 1: Organization and Summary of Significant Accounting Policies (Continued) constructed. Donated capital assets are recorded at estimated fair market value at the date of donation. Capital assets are public domain (infrastructure) consisting of certain improvements including roads, bridges, curbs, gutters, streets and sidewalks, medians, sewer and storm drains. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase of capital assets of business -type activities is included as part of the capitalized value of the assets constructed. Property, plant, and equipment of the primary government, as well as the component units, are depreciated using the straight -line method over the following estimated useful lives: Assets Years Building and Improvements 20 -99 Machinery and Equipment 5 -50 Vehicles 4 -10 Infrastructure 20 -60 6. Deferred Outflows /Inflows of Resources In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/ expenditure) until then. The City only has one item that qualifies for reporting in this category. It is the deferred charge on refunding reported in the government -wide and proprietary fund statement of net position. A deferred charge on refunding results from the difference in the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or refunding debt. In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The City has only one type of item, which arises only under a modified accrual basis of accounting that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is reported only in the governmental funds balance sheet. The City funds report unavailable revenues from two sources: property taxes and grant revenue. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. 7. Net Position Flow Assumption Sometimes the City will fund outlays for a particular purpose from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted — net position and unrestricted — net position in the government -wide and proprietary fund financial statements, a flow assumption must be made about the order in which the resources .I CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 1: Organization and Summary of Significant Accounting Policies (Continued) are considered to be applied. It is the City's policy to consider restricted — net position to have been depleted before unrestricted — net position is applied. 8. Fund Balance Flow Assumptions Sometimes the City will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow assumption must be made about the order in which the resources are considered to be applied. It is the City's policy to consider restricted fund balance to have been depleted before using any of the components of unrestricted fund balance. Further, when the components of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is applied last. 9. Compensated Absences In accordance with GASB Statement No. 16, a liability is recorded for compensated absences (unpaid vacation, sick leave and compensatory time) since the employees' entitlement to these balances are attributable to services already rendered and it is probable that virtually all of these balances will be liquidated by either paid time off or payments upon termination or retirement. Under GASB Statement No. 16 a liability is recorded for unused sick leave balances only to the extent that it is probable that the unused balances will result in termination payments. This is estimated according to the Memorandum of Understanding for each employee bargaining group. Other amounts of unused sick leave are excluded from the liability since their payment is contingent solely upon the occurrence of a future event (illness) which is outside the control of the City and the employee. 10. Long Term Obligations In the government -wide financial statements, and proprietary fund types in the fund financial statements, long -term debt and other long -term obligations are reported as liabilities in the applicable governmental activities, business -type activities, or proprietary fund type statement of net position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. 41 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 1: Organization and Summary of Significant Accounting Policies (Continued) 11. Fund Equity In the fund financial statements, government funds report the following fund balance classification: Nonspendable includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact. Restricted includes amounts that are constrained on the use of resources by either (a) external creditors, grantors, contributors, or laws of regulations of other governments or (b) by law through constitutional provisions or enabling legislation. Assigned include amounts that are constrained by the government's intent to be used for specific purposes, but are neither restricted nor committed. The City Manager, and /or the Director of Finance are authorized to assign amounts to a specific purpose, which was established by the governing body in a minute action. Unassigned include the residual amounts that have not been restricted, committed, or assigned to specific purposes. An individual governmental fund could include nonspendable resources and amounts that are restricted or unrestricted (assigned or unassigned) or any combination of those classifications. Restricted amounts are to be considered spent when expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available assigned, then unassigned amounts are considered to have been spent when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance classifications can be used. II. STEWARDSHIP Note 2: Stewardship, Compliance and Accountability a. Budget Data General Budget Policies Budgets for the general, special revenue, debt service, and capital projects funds are adopted on a basis consistent with generally accepted accounting principles (GAAP). The City Council approves each year's budget submitted by the City Manager prior to the beginning of the new fiscal year. Public hearings are conducted prior to its adoption by the Council. Supplemental appropriations, where required during the period, are also approved by the Council. The City Manager may make transfers of appropriations within and between functions and programs, in accordance with Fiscal Policy, as long as such transfers do not increase the adopted annual budget appropriations. Budget amendments which exceed total adopted appropriations require the approval of the City Council. The legal level of budgetary control is at the function level. During the year, several supplemental appropriations were necessary. At fiscal year -end, all operating budget appropriations lapse. 42 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 2: Stewardship, Compliance and Accountability (Continued) b. The following funds do not have a legally adopted budget: Traffic Impact AB 1600 Roberti - Z'berg Harris Open Space Grants c. The following non -major funds had a deficit fund balance as of June 30, 2013: Fund Amount Special Revenue Funds: Citywide Grants $ (44,611) Police Grants (12,611) d. 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 recognizes as revenue only those taxes which are received within 60 days after year end. The property tax calendar is as follows: Lien Date: Levy Date Due Date: Delinquent Date e. Prior Year Data January 1 July 1 First Installment- November 1 Second Installment- February 1 First Installment- December 11 Second Installment- April 11 Selected information regarding the prior year has been included in the accompanying financial statements. This information has been included for comparison purposes only and does not represent a complete presentation in accordance with generally accepted accounting principles. Accordingly, such information should be read in conjunction with the government's prior year financial statements, from which this selected financial data was derived. f. Use of Estimates The preparation of basic financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenditures during the reporting period. Actual results could differ from those estimates. 43 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 III. DETAILED NOTES ON ALL FUNDS Note 3: Cash and Investments Cash and investments as of June 30, 2013, are classified in the accompanying financial statements as follows: Statement of Net Position: Cash and investments $ 47,465,028 Restricted: Cash and investments with fiscal agent 724,445 Statement of Fiduciary Net Assets: Cash and investments 1,794,397 Restricted: Cash and investments with fiscal agent 2,047,493 Total cash and investments $ 52,031,363 Cash and investments as of June 30, 2013, consist of the following: Cash on hand $ 7,214 Deposits with financial institutions 1,906,457 Investments 50,117, 692 Total cash and investments $ 52,031,363 Investments Authorized by California Government Code and the City's Investment Policy The table below identifies the investment types that are authorized for the City by the California Government Code Section 53601 or the City's investment policy, where more restrictive. The table also identifies certain provisions of the California Government Code (or the City's investment policy if more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustees that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City's investment policy. The City Treasurer may waive the collateral requirement for deposits that are fully insured up to $250,000 by the FDIC. Authorized Investment T • S treasury securities • S agency securities Obligations of the State of California or any local agency Registered treasury notes or bonds of any of the 49 states in addition to California Bankers' acceptance Commercial paper Non - negotiable CDs Negotiable CDs Medium term notes Money market mutual funds Local Agency Investment $50 Million Fund (LAIF) None 100% per account *Based on state law requirements or investment policy requirements whichever is more restrictive. id Maximum Maximum Maximum Percentage of Investment in Maturity Portfolio* One Issuer* 5 years 100% None 5 years 20% None 5 years 100% None 5 years 100% None 180 days 40% 5% 270 days 25% 10% 5 years 100% None 5 years 30% 5% 5 years 30% 5% 89 days 15% 10% $50 Million Fund (LAIF) None 100% per account *Based on state law requirements or investment policy requirements whichever is more restrictive. id CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 3: Cash and Investments (Continued) Investments Authorized by Debt Agreements Investment of debt proceeds held by bond trustee are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the City's investment policy. The following table identifies the investment types that are authorized for investments held by bond trustees. The table also identifies certain provisions of these debt agreements that address interest rate risk, credit risk, and concentration of credit risk. *Based on state law requirements or investment policy requirements whichever is more restrictive. Disclosures Relating to Interest Rate Risk Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value is to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations. Information about the sensitivity of the fair values of the City's investments (including investments held by bond trustees) to market interest rate fluctuations is provided by the following table that shows the distribution of the City's investments by maturity. Investment Type U.S. Agency Securities Corporate Note Commercial Paper Certificates of Deposit Local Agency Investment Fund (LAIF) Held by Fiscal Agent: Money Market Mutual Funds Total Remaining Maturity (in Months) Maximum Maximum 13 to 24 25 to 60 Maximum Percentage of Investment in Authorized Investment Type Maturity Portfolio* One Issuer" U S treasury securities None None None U S agency securities None None None Bankers' acceptance 180 days None 30% Commercial paper 270 days None None Money market mutual funds 89 days None None Investment contracts 30 years None None Local Agency Investment Fund (LAIF) None None None *Based on state law requirements or investment policy requirements whichever is more restrictive. Disclosures Relating to Interest Rate Risk Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value is to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations. Information about the sensitivity of the fair values of the City's investments (including investments held by bond trustees) to market interest rate fluctuations is provided by the following table that shows the distribution of the City's investments by maturity. Investment Type U.S. Agency Securities Corporate Note Commercial Paper Certificates of Deposit Local Agency Investment Fund (LAIF) Held by Fiscal Agent: Money Market Mutual Funds Total hirAC*]t � I&rAIII0119R] $ 50,117,692 $ 29,932,660 $ 19,226,004 $ 959,028 W Remaining Maturity (in Months) 12 Months or 13 to 24 25 to 60 Total Less Months Months $ 9,868,945 $ 1,519,505 $ 8,349,440 $ - 4,358,595 - 3,992,713 365,882 4,498,306 4,498,306 - - 11,951,253 4,474,256 6,883,851 593,146 16,668,654 16,668,654 - - hirAC*]t � I&rAIII0119R] $ 50,117,692 $ 29,932,660 $ 19,226,004 $ 959,028 W CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 3: Cash and Investments (Continued) Credit Risk Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government code or the City's investment policy, or debt agreements, and the actual rating as of the year -end for each investment type: Remaining as of Year End Minimum Investment Type Legal Rating Total AA+ U.S. Agency Securities A Corporate Note N/A Commercial Paper N/A Certificates of Deposit N/A Local Agency Investment N/A Fund (LAIF) Held by Fiscal Agent: Money Market Mutual Fund! N/A Total Custodial Credit Risk $ 9,868,945 $ 9,868,945 $ 4,358,595 4,358,595 4,498,306 4,498,306 11,951,253 - 16, 668, 654 Unrated 11,951,253 16, 668, 654 2,771,939 - 2,771,939 $ 50,117, 692 $ 18, 725, 846 $ 31, 391, 846 Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker - dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the City's investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits: The California Government Code requires that a financial institution secure deposits made by state or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The market value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the City. California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the secured City deposits. Invesments held by a bond trustee are selected under the terms of the applicable trust agreement. The trustee acquires the investment and holds the investment on behalf of the reporting government. ER CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 3: Cash and Investments (Continued) Concentration of Credit Risk The investment policy of the City contains no limitations on the amount that can be invested in any one issuer beyond what is stipulated by the California Government Code. The City did not have any investments in any one issuer (other than Certificates of Deposit, mutual funds, and external investment pools) that represents 5% or more of total City investments. Investment in State Investment Pool The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The fair value of the City's investment in this pool is reported in the accompanying financial statements at amounts based upon the City's pro -rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. Note 4: Interfund Receivable, Payable and Transfers The composition of interfund balances as of June 30, 2013, was as follows: Due From and To Other Funds Due to Other Funds: Traffic Relief Nonmajor Funds Grant Governmental Total Due From Other Funds: General fund $ 289,787 $ 106,347 $ 396,134 These interfund balances are a result of short -term borrowings to cover deficit cash balances in the Citywide Grants Fund, Street Lighting Fund, Roberti - Z'berg- Harris Urban Open Space Fund, Grants Fund, and Police Grant Fund at June 30, 2013. Interfund Transfers Transfers in: Fund General Fund Capital Projects and Equipment Fund Non -Major Governmental Fund Internal Service Fund Total Transfers Out: General Traffic Relief Fund Grant Nonmajor Governmental Funds Total 349,000 $ 349,000 566,418 289,787 1,106, 695 1,962,900 3,150, 830 - 362,702 3,513,532 310,000 - - 310,000 $ 4,027,248 $ 289, 787 $ 1,818,397 $ 6,135, 432 47 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 4: Interfund Receivable, Payable and Transfers (Continued) Transfers totaling $349,000 from the State Gasoline Tax Fund, Measure M Fund, Landscape District Fund, Heron Pointe Fund, and Pacific Gateway Fund were made to the General Fund primarily to fund various street maintenance projects and reimburse the General Fund for certain administrative costs. The General Fund, Traffic Relief Grant Fund and various other non -major governmental funds transferred $1,962,900 to the Capital Projects and Equipment Fund for infrastructure projects such as street improvements, public work facilities, and storm drain improvements. Note 5: Capital Assets Capital asset activity for the year ended June 30, 2013, was as follows: .; Beginning Ending Balance Additions Deletions Balance Governmental Activities: Capital assets, not being depreciated: Land $ 10,116,655 $ $ $ 10,116,655 Intangible asset - land easement 900,000 900,000 Construction -in- progress 439,474 2,534,500 40,460 2,933,514 Total Capital Assets, Not Being Depreciated 11,456,129 2,534,500 40,460 13,950,169 Capital assets, being depreciated: Buildings and improvements 13,199,527 21,796 - 13,221,323 Machinery and equipment 2,098,452 229,335 96,775 2,231,012 Vehicles 1,563,434 594,078 109,570 2,047,942 Infrastructure 74,827,245 534,047 - 75,361,292 Total Capital Assets, Being Depreciated 91,688,658 1,379,256 206,345 92,861,569 Less accumulated depreciation: Buildings and improvements 3,163,852 338,710 - 3,502,562 Machinery and equipment 1,595,991 115,326 96,775 1,614,542 Vehicles 977,367 105,740 92,574 990,533 Infrastructure 21,468,329 1,951,742 - 23,420,071 Total Accumulated Depreciation 27,205,539 2,511,518 189,349 29,527,708 Total Capital Assets, Being Depreciated, Net 64,483,119 (1,132,262) 16,996 63,333,861 Governmental Activities Capital Assets, Net $ 75,939,248 $ 1,402,238 $ 57,456 $ 77,284,030 .; CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 5: Capital Assets (Continued) Beginning Depreciation expense was charged in the following functions in the Statement of Activities for the year ended June 30, 2013, as follows: Ending Governmental Activities: Balance General Government $ 198,221 Public safety 227,461 Public works 2,001,233 Community development 2,234 Community services 48,601 Internal Service funds 33,768 Total Depreciation Expense - Governmental Activities $ 2,511,518 Capital assets, being depreciated: Building and improvements -water Machinery and equipment -water Machinery and equipment - sewer Vehicles - water Vehicles - sewer Infrastructure - water Infrastructure - sewer Total Capital Assets, Being Depreciated Less accumulated depreciation: Building and improvements -water Machinery and equipment -water Machinery and equipment - sewer Vehicles - water Vehicles - sewer Infrastructure - water Infrastructure - sewer Total Accumulated Depreciation Total Capital Assets, Being Depreciated, Net Business -type Activities Capital Assets, Net 73,284 Beginning - 73,284 531,044 Ending - 531,044 Balance Increases Decreases Balance Business -type Activities: - 280,634 109,303 61,028 (38,000) 132,331 Capital assets, not being depreciated: 553,750 - 29,878,924 29,070,779 - Construction -in- progress -water $ 1,111,604 $ 540,847 $ (575,328) $ 1,077,123 Construction -in- progress - sewer 3,555,276 1,997,748 (114,313) 5,438,711 Total Capital Assets, - 70,246 447,027 8,619 - 455,646 Not Being Depreciated 4,666,880 2,538,595 (689,641) 6,515,834 Capital assets, being depreciated: Building and improvements -water Machinery and equipment -water Machinery and equipment - sewer Vehicles - water Vehicles - sewer Infrastructure - water Infrastructure - sewer Total Capital Assets, Being Depreciated Less accumulated depreciation: Building and improvements -water Machinery and equipment -water Machinery and equipment - sewer Vehicles - water Vehicles - sewer Infrastructure - water Infrastructure - sewer Total Accumulated Depreciation Total Capital Assets, Being Depreciated, Net Business -type Activities Capital Assets, Net 73,284 - - 73,284 531,044 - - 531,044 785,802 - - 785,802 216,471 64,163 - 280,634 109,303 61,028 (38,000) 132,331 29,325,174 553,750 - 29,878,924 29,070,779 - - 29,070,779 60,111,857 678,941 (38,000) 60,752,798 69,572 674 - 70,246 447,027 8,619 - 455,646 160,226 16,145 - 176,371 173,676 14,187 - 187,863 85,117 8,439 (38,000) 55,556 14,364,514 527,552 - 14,892,066 12, 873,663 544,530 - 13,418,193 $ 36,604,942 $ 2,097,390 $ (689,641) $ 38,012,691 49 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 5 Note 6: Capital Assets (Continued) Depreciation expense was charged in the following programs of the primary government for the year ended June 30, 2013, as follows: Business -type Activities: Water Sewer $ 551,032 569.114 Total Depreciation Expense - Business -type Activities $ 1,120,146 Long -Term Debt The following is a schedule of changes in long -term debt of the City for the year ended June 30, 2013: 2008 Taxable Pension Obligation Bonds On June 1, 2008, the City issued Taxable Pension Obligation Bonds for the purpose of refunding the City's obligations to the California Public Employees' Retirement System for pension benefits accruing for its members in the amounts of $2,170,000 and $8,775,000 for Series 2008A -1 and 2008A -2, respectively. Interest rate on the bonds varies from 4.9% to 5.66 %. Payments have been presented as expenditures in the fund financial statements and as prepaid assets in the government -wide financial statements. The balance in the Series 2008A -1 has been paid off as of June 30, 2013. The balance in the 2008A -2 bonds at June 30, 2013, was $6,045,000. Balance Year Ending Balance Due Within July 1, 2012 Additions Deletions June 30, 2013 One Year 2008 Taxable Pension Obligation Bond $ 486,000 $ - $ 486,000 $ - $ - Series A -1 225,320 2017 1,047,000 169,059 2008 Taxable Pension Obligation Bonds, 1,151, 000 107,153 2019 1,263,000 Series A -2 6,741,000 - 696,000 6,045,000 775,000 2009 Lease Revenue Bonds 4,935,000 - 420,000 4,515,000 420,000 Capital Property improvement lease 202,581 - 132,446 70,135 70,135 Claims payable 342,048 - 41,255 300,793 41,255 Compensated absences 740,035 486,456 439,188 787,303 226,319 Total $ 13,446,664 $ 486,456 $ 2,214,889 $ 11,718,231 $ 1,532,709 2008 Taxable Pension Obligation Bonds On June 1, 2008, the City issued Taxable Pension Obligation Bonds for the purpose of refunding the City's obligations to the California Public Employees' Retirement System for pension benefits accruing for its members in the amounts of $2,170,000 and $8,775,000 for Series 2008A -1 and 2008A -2, respectively. Interest rate on the bonds varies from 4.9% to 5.66 %. Payments have been presented as expenditures in the fund financial statements and as prepaid assets in the government -wide financial statements. The balance in the Series 2008A -1 has been paid off as of June 30, 2013. The balance in the 2008A -2 bonds at June 30, 2013, was $6,045,000. 50 2008 Taxable Pension Year Ending Obligation Bonds, Series A -2 June 30, Principal Interest 2014 $ 775,000 $ 322,299 2015 859,000 276,307 2016 950,000 225,320 2017 1,047,000 169,059 2018 1,151, 000 107,153 2019 1,263,000 39,129 Total $ 6,045,000 $ 1,139,267 50 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 6: Long -Term Debt (Continued) 2009 Series Lease Revenue Bonds On January 14, 2009, the City issued 2009 Series Lease Revenue Bonds for the purpose of financing the construction of a new fire station in the City in the amount of $6,300,000. Interest rate on the bonds is 3.71 %. The balances of the 2009 Series Lease Revenue bonds at June 30, 2013, were $4,515,000. Year Ending June 30, 2014 2015 2016 2017 2018 2019 -2023 2024 Total Capital Property Improvement Lease 2009 Series Lease Revenue Bonds Principal $ 420,000 420,000 420,000 420,000 420,000 2,100,000 315,000 Interest $ 161,663 146,081 130,499 114,917 99,335 262,946 5,843 $ 4,515,000 $ 921,284 The City has entered into a lease agreement for capital improvements for various City facilities that are owned and operated by the City and Agency. Accordingly, a portion of the lease payments have been allocated to the City (representing approximately 83 %) and the remainder has been allocated to the Agency (representing approximately 17 %). The original cost of the improvements aggregating $1,493,080 has been capitalized. Due to the dissolution of the Agency, the State disallowed the Agency's portion of the debt as an enforceable obligation. Therefore, the City will take over all current and future lease payments. The balance of this capital improvement lease obligation that is outstanding at June 30, 2013, is $70,135. The calculation of the present value of the future lease payments for obligations under the capital lease is as follows: Year Ending Capital Improvement Lease June 30, Principal Interest 2014 $ 70,135 $ 11398 Total $ 70,135 $ 1,398 Compensated Absences Pavable The City's policy relating to compensated absences is described in Note 1 of the Notes to Financial Statements. This liability will be paid in future years from future resources. The outstanding liability for compensated absences earned was $787,303. 51 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 6: Long -Term Debt (Continued) Claims Payable The City is exposed to various risks of loss to its operation, including losses associated with errors and omissions, injuries to employees and members of the public. The claims and judgments reported in the Government -wide financial statements is based on the requirements of Governmental Accounting Standards Board No. 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that liability has been incurred at the date of the financial statements and the amount of loss can be reasonably estimated. As of June 30, 2013, claims payable including estimated claims for incurred but not reported claims, amounted to $300,793. The following is a summary of changes in Proprietary Fund long -term debt for the year ended June 30, 2013: Current Year Beginning of Claims and Balance at Fiscal Year Changes in Claim Fiscal Year Liability Estimates Payments End 2012 -13 $ 342,048 $ - $ (41, 255) $ 300,793 The following is a summary of changes in Proprietary Fund long -term debt for the year ended June 30, 2013: Total $ 4,986,282 $ 1,065,123 $ 363,391 5,688,014 $ 378,676 A description of Proprietary Fund long -term debt outstanding as of June 30, 2013, follows: Economic Development Administration Loan The City received a loan on September 16, 1977 from the Economic Development Administration for drought relief in the amount of $288,000. Repayment terms of the loan were to be interest only at the rate of 5% per annum through June 30, 1980. Thereafter, commencing on July 1, 1980, payments of $17,074 principal and interest at the rate of 5% per annum were to be made annually through July 1, 2017. 52 Balance Balance Due Within July 1, 2012 Additions Deletions June 30, 2013 One Year Economic development administration loan $ 87,453 $ - $ 12,673 $ 74,780 $ 13,306 2011 Sewer Revenue Refunding Bonds 3,085,000 - 120,000 2,965,000 130,000 Sewer Capital Improvement Project 1,704,307 939,708 123,726 2,520,289 161,809 Compensated absences 109,522 125,415 106,992 127,945 73,561 Total $ 4,986,282 $ 1,065,123 $ 363,391 5,688,014 $ 378,676 A description of Proprietary Fund long -term debt outstanding as of June 30, 2013, follows: Economic Development Administration Loan The City received a loan on September 16, 1977 from the Economic Development Administration for drought relief in the amount of $288,000. Repayment terms of the loan were to be interest only at the rate of 5% per annum through June 30, 1980. Thereafter, commencing on July 1, 1980, payments of $17,074 principal and interest at the rate of 5% per annum were to be made annually through July 1, 2017. 52 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 6: Long -Term Debt (Continued) Future debt service requirements on the loan at June 30, 2013, were as follows: 2011 Sewer System Revenue Refunding Bonds On March 2, 2011, the City issued 2011 Sewer System Revenue Refunding Bonds in the amount of $3,310,000 to pay off the 2000 Sewer System Certificates of Participation. The 2000 Sewer System Certificates of Participation were issued to provide for improvements to the City's sewer system. Interest rate on the 2011 Sewer System Revenue Refunding Bonds is 4.8 %, and the balance of the 2011 Sewer System Revenue Refunding Bonds at June 30, 2013, was $2,965,000. Year Ending June 30, 2014 2015 2016 2017 2018 2019 -2023 2024 -2027 2028 -2029 Total Sewer Capital Improvement Project 2011 Sewer System Revenue Refunding Bonds Principal Economic Development Year Ending Administration Loan June 30, Principal Interest 2014 $ 13,306 $ 3,768 2015 13,971 3,103 2016 14,670 2,404 2017 15,403 1,671 2018 17,430 901 Total $ 74,780 $ 11,847 2011 Sewer System Revenue Refunding Bonds On March 2, 2011, the City issued 2011 Sewer System Revenue Refunding Bonds in the amount of $3,310,000 to pay off the 2000 Sewer System Certificates of Participation. The 2000 Sewer System Certificates of Participation were issued to provide for improvements to the City's sewer system. Interest rate on the 2011 Sewer System Revenue Refunding Bonds is 4.8 %, and the balance of the 2011 Sewer System Revenue Refunding Bonds at June 30, 2013, was $2,965,000. Year Ending June 30, 2014 2015 2016 2017 2018 2019 -2023 2024 -2027 2028 -2029 Total Sewer Capital Improvement Project 2011 Sewer System Revenue Refunding Bonds Principal Interest $ 130,000 $ 140,760 130,000 134,520 140,000 128,160 145,000 121,440 150,000 114,360 885,000 453,480 880,000 194,640 505,000 30,720 $ 2,965,000 $ 1,318,080 On April 6, 2011, the City entered into an agreement with the Clean Water State Revolving Fund Control Board for construction of the Sewer Capital Improvement project. The City may borrow up to $2,644,356 or the eligible costs of the project, whichever is less. At June 30, 2013, the State Water Resources Control Board had disbursed $2,644,015. The loan has an interest rate of 2.6% with maturities through 2031. The outstanding balance at June 30, 2013, is $2,520,289. As of June 30, 2013, the future debt service requirements have not been determined. 53 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 7: Debt Issued Without Government Commitment Surfside Colony Reassessment District No. 2000 -1 The Surfside Colony Reassessment District No. 2000 -1 was formed to finance improvements within the Surfside Colony and to refund the outstanding unmatured portion of the Assessment District 94 -1 (Surfside Colony) limited obligation improvement bonds. The debt service payments on the bonds will be included on property tax bills within the reassessment district and will be collected by the City and then forwarded to the paying agent. A Reserve Fund was established in which the City may make withdrawals enough to cover any delinquent payments on the reassessments. The City has no liability for the bonds beyond the amount held in the Reserve Fund. The bonds are not secured by the general taxing power of the City, county, state, or any political subdivision of the state nor have the City, county, state, or any political subdivision thereof pledged its full faith and credit for the repayment thereof. Since the City has no liability for these bonds, the reserve fund and debt service monies are stored in the Agency Fund and the debt is not included in the financial statements. The outstanding balance at June 30, 2013, was $360,000. Heron Pointe Communitv Facilities District No. 2002 -01 The Heron Pointe Community Facilities District No. 2002 -01 was formed to finance public facilities improvements within Heron Pointe. The debt service payments on the bonds will be included on property tax bills within community facilities district and will be collected by the City and then forwarded to the paying agent. A Reserve Fund was established in which the City may make withdrawals enough to cover any delinquent payments on the reassessments. The City has no liability for the bonds beyond the amount held in the Reserve Fund. The bonds are not secured by the general taxing power of the City, county, state, or any political subdivision of the state nor has the City, county, state, or any political subdivision thereof pledged its full faith and credit for the repayment thereof. Since the City has no liability for these bonds, the reserve fund and debt service monies are stored in the Agency Fund and the debt is not included in the financial statements. The outstanding balance at June 30, 2013, was $3,610,000. Pacific Gateway Business Center Community Facilities District No 2005 -01 The Pacific Gateway Business Center community Facilities District No. 2005 -01 (District) was formed to finance public facilities within the District. The debt service payments on the bonds will be included on property tax bills within the community facilities district and will be collected by the City and then forwarded to the paying agent. A Reserve Fund was established in which the City may make withdrawals enough to cover any delinquent payments on the reassessments. The City has no liability for the bonds beyond the amount held in the Reserve Fund. The bonds are not secured by the general taxing power of the City, county, state, or any political subdivision of the state nor has the City, county, state, or any political subdivision thereof pledged its full faith and credit for the repayment thereof. Since the City has no liability for these bonds, the reserve fund and debt service monies are stored in the Agency Fund and the debt is not included in the financial statements. The outstanding balance at June 30, 2013, was $8,595,000. 54 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 8: Retirement Plans California Public Employees Retirement System (PERS) - Plan Description The City of Seal Beach contributes to the California Public Employees Retirement System (PERS), a cost sharing multiple - employer public employee defined benefit pension plan. PERS provides retirement and disability benefits, annual cost -of- living adjustments and death benefits to plan members and beneficiaries. PERS acts as a common investment and administrative agent for participating public entities within the State of California. Benefit provisions and all other requirements are established by state statute and City ordinance. PERS issues a publicly available financial report that includes financial statements and required supplementary information for the cost sharing plans that are administered by PERS. Copies of PERS' annual financial report may be obtained from their executive office: 400 P Street, Sacramento, California 95814. Contributions Miscellaneous and safety participants are required to contribute 7% and 9 %, respectively, of their annual covered salary. The City is required to contribute at an actuarially determined rate. The rates for the year ended June 30, 2013, are 9.478% and 26.416% for miscellaneous and safety participant respectively, of annual covered payroll. The contribution requirements of plan members and the City are established and may be amended by City Council in conjunction with applicable labor contracts. Required Contribution For the year ended June 30, 2013, the City's contribution to the miscellaneous plan of $395,817 was equal to the City's required and actual contributions. The required contribution was determined as part of the June 30, 2010, actuarial valuation using the entry age normal actuarial cost method. The actuarial assumptions included (a) 7.75% investment rate of return (net of administrative expenses) and (b) projected annual salary increases that range from 3.55% to 14.45% depending on age, service, and type of employment. Both (a) and (b) include an inflation component of 3 %. The actuarial value of PERS assets was determined using techniques that smooth the effects of short-term volatility in the market value of investments over a three -year period. PERS unfunded actuarial accrued liability (or surplus) is being amortized as a level percentage of projected payroll on a closed basis. The remaining amortization period at June 30, 2010 was 18 years. Three -Year Trend Information of PERS Required Percentage Fiscal Year Contribution Contributed 6/30/2011 $ 6/30/2012 6/30/2013 55 364,153 100% 435,101 100% 395,817 100% CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 8: Retirement Plans (Continued) For the year ended June 30, 2013, the City's contribution to the safety plan of $1,003,778 was equal to the City's required and actual contributions. The required contribution was determined as part of the June 30, 2010, actuarial valuation using the entry age normal actuarial cost method. The actuarial assumptions included (a) 7.5% investment rate of return (net of administrative expenses) and (b) projected annual salary increases that range from 3.55% to 14.45% depending on age, service, and type of employment. Both (a) and (b) include an inflation component of 3 %. The actuarial value of PERS assets was determined using techniques that smooth the effects of short -term volatility in the market value of investments over a three -year period. PERS unfunded actuarial accrued liability (or surplus) is being amortized as a level percentage of projected payroll on a closed basis. The remaining amortization period at June 30, 2010 was 18 years. Three -Year Trend Information of PERS Required Percentage Fiscal Year Contribution Contributed 6/30/2011 $ 766,374 100% 6/30/2012 914,022 100% 6/30/2013 1,003,778 100% For fiscal year 2012 -2013, the City of Seal Beach participated in risk pooling. Risk pooling consists of combining assets and liabilities across employers to produce large groups where the impact of a catastrophic demographic event is shared among all employers of the same risk pool. Participation in risk pools is mandatory for all rate plans with less than 100 active members. Mandated participation in risk pools was initially based on the active membership of each rate plan as of June 30, 2003. The implementation of risk pools was done in a way that minimizes the impact on employer contribution rates. The first year in risk pools, the employer contribution rates are almost identical to what the rates would have been outside pools. Future rates will be based on the experience of each pool. Pooling will reduce the volatility of future employer rates. Mandated participation will occur on an annual basis. If on any valuation date starting with the June 30, 2003, valuation, a rate plan has less than 100 active members, it will be mandated in one of the risk pools effective on that valuation date. Public Agency Retirement System (PARS) The City of Seal Beach contributed to the California Public Agency Retirement System (PARS), an agent multiple - employer public employee retirement system that acts as a common investment and administrative agent for participating public entities within the State of California. The system operates independently as a public employer trust, as provided for under the California Government Code and the United States Internal Revenue Code and as a local district plan as provided for under the California Education Code. PARS is a defined contribution retirement plan in which the City contributes 1.3% and the participants contribute 6.2% of the participant's before tax compensation. All City employees who are not participating in PERS are required to participate in PARS. Employees are 100% vested in employee and City contributions upon enrollment. The City's contribution to PARS for 2012 -2013 was $15,365 (of covered payroll), and the employees' contributions to PARS were $73,281 (of covered payroll). ! CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 9: Joint Ventures Orange County Fire Authority The City of Seal Beach entered into a joint powers agreement with seventeen other cities and the County of Orange in January 1995, and subsequently amended on September 23, 1999, to create the Orange County Fire Authority (the Authority). Since 1995, other cities within the County have also joined the Authority to bring the total members in the Authority to twenty -two. The purpose of the Authority is to provide for mutual fire protection, prevention and suppression services and related and incidental services including, but not limited to, emergency medical and transport services, hazardous materials regulation as well as providing facilities and personnel for such services. The effective date of formation was March 1, 1995. The Authority's governing board consists of one representative from each City and two from the County. The operations of the Authority are funded with structural fire fees collected by the County through either the property tax roll or with cash contributions based on the Authority's annual budget. The County pays all structural fire fees it collects to the Authority. In 2012 -2013 the City of Seal Beach paid $4,208,362 to the Authority. No determination has been made as to each participant's proportionate share of fund equity as of June 30, 2013. Upon dissolution of the Authority, all surplus money and property of the Authority will be conveyed or distributed to each member in proportion to all funds provided to the Authority by that member or by the County on behalf of that member during its membership. The following audited financial data is presented as of and for the year ended June 30, 2012 (the most recent data available). Governmental Activities Total Assets $ 376,665,967 Total Liabilities $ 108,120,816 Total Revenues $ 265,212,548 Total Expenses 284,296,768 Changes in Net Assets (19,084,220) Net Assets, Beginning 287,629,371 Net Assets, Ending $ 268,545,151 Complete financial statements may be obtained from the Orange County Fire Authority, 1 Fire Authority Road, Irvine, California 92602. County Public Financing Authority The Countywide Public Financing Authority (Authority) was established in accordance with the provisions of Articles 1 through 4 (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the California Government Code (the Act), and pursuant to the terms of that certain Joint Exercise of Powers Agreement, dated June 19, 1996, by and among the Members. Under the Act, the Authority is authorized to borrow money for the purpose of financing the acquisition of bonds, notes, and other obligations of, or making loans to, public entities, including the Members, and to provide financing for the public capital improvements of public entities, including the Members. 57 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 9: Joint Ventures (Continued) The Authority's membership consists of the cities of Brea, Buena Park, Fullerton, Garden Grove, Orange, Santa Ana, Seal Beach, Stanton, and Tustin. The governing body of the Authority consists of nine directors, appointed by the governing bodies of each member. Each director has one vote over budgeting and financial matters. The Authority is a public entity separate from the cities, and is not included in the financial statements of those entities. The Authority issued its 1996 Revenue Bonds in the amount of $27,725,000 in July 1996. The bond proceeds will be used to provide financing for the portions of a Countywide communications system within Orange County allocable to the members and to finance other capital projects for certain members within their respective geographical boundaries. In order to provide for repayment of the bonds, each member has agreed to lease certain real property and improvements to the Authority and lease back said premises from the Authority pursuant to separate lease agreements. Each member will pay installments of rent to the Authority in an amount sufficient to cover the debt service on the bonds. Separate financial statements are not prepared for the Countywide Public Financing Authority. Financial information is accumulated by U.S. Trust in Los Angeles, California, which is the escrow agent. See Note 6 for information regarding the City's share of lease payments. West Communications Financinq Authority The West Communications Financing Authority (Authority) was established December 23, 1996, pursuant to a Joint Exercise of Powers Agreement by the Cities of Seal Beach, Cypress, and Los Alamitos for the purpose of operating a public safety communications center. The Board of Directors is comprised of three elected officials, one designated by each participating City. Each Director has one vote over budgeting and financial matters. The Authority is a public entity separate from the Cities, and is not included in the financial statements of those entities. Each City pays a contractual fee to the Authority, which consists of personnel costs, capital expenditures and reserves to fund accrued employee leave and equipment purchases. The contractual fee remains stable from year to year. In 2012 -2013 the City of Seal Beach paid $619,469 to the Authority. Audited information is not available. Unaudited financial information may be obtained from the City of Cypress. Note 10: Liability, Property and Workers Compensation Protection a. Description of Self- Insurance Pool Pursuant to Joint Powers Agreement The City of Seal Beach is a member of the California Joint Powers Insurance Authority (the Authority). The Authority is composed of 123 California public entities and is organized under a joint powers agreement pursuant to California Government Code §6500 et seq. The purpose of the Authority is to arrange and administer programs for the 58 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 10: Liability, Property and Workers Compensation Protection (Continued) pooling of self - insured losses, to purchase excess insurance or reinsurance, and to arrange for group - purchased insurance for property and other coverages. The Authority's pool began covering claims of its members in 1978. Each member government has an elected official as its representative on the Board of Directors. The Board operates through a nine member Executive Committee. b. Self- Insurance Programs of the Authority Each member pays an annual contribution (formerly called the primary deposit) to cover estimated losses for the coverage period. This initial funding is paid at the beginning of the coverage period. After the close of the coverage period, outstanding claims are valued. A retrospective deposit computation is then conducted annually thereafter until all claims incurred during the coverage period are closed on a pool -wide basis. This subsequent cost re- allocation among members based on actual claim development can result in adjustments of either refunds or additional deposits required. The total funding requirement for self - insurance programs is estimated using actuarial models and pre- funded through the annual contribution. Costs are allocated to individual agencies based on exposure (payroll) and experience (claims) relative to other members of the risk - sharing pool. Additional information regarding the cost allocation methodology is provided below. Liability In the liability program claims are pooled separately between police and non - police exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $30,000 for each occurrence and is evaluated as a percentage of the pool's total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $30,000 to $750,000 for each occurrence and is evaluated as a percentage of the pool's total incurred costs within the second layer. (4) Incurred costs in excess of $750,000 up to the reinsurance attachment point of $5 million are distributed based on the outcome of cost allocation within the first and second loss layers. (5) Costs of covered claims from $5 million to $10 million are paid under a reinsurance contract subject to a $2.5 million annual aggregate deductible. Costs of covered claims from $10 million to $15 million are paid under two reinsurance contracts subject to a combined $3 million annual aggregate deductible. On a cumulative basis for all 2011 -12 reinsurance contracts the annual aggregate deductible is $5.5 million. (6) Costs of covered claims from $15 million up to $50 million are covered through excess insurance policies. The overall coverage limit for each member including all layers of coverage is $50 million per occurrence. Costs of covered claims for subsidence losses are paid by reinsurance and excess insurance with a pooled sub -limit of $25 million per occurrence. This $25 million subsidence sub -limit is composed of (a) $5 million retained within the pool's SIR, (b) $10 million in reinsurance and (c) $10 million in excess insurance. The excess insurance layer has a $20 million annual aggregate. 59 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 10: Liability, Property and Workers Compensation Protection (Continued) Workers' Compensation In the workers' compensation program claims are pooled separately between public safety (police and fire) and non - public safety exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $50,000 for each occurrence and is evaluated as a percentage of the pool's total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $50,000 to $100,000 for each occurrence and is evaluated as a percentage of the pool's total incurred costs within the second layer. (4) Incurred costs in excess of $100,000 up to the reinsurance attachment point of $2 million are distributed based on the outcome of cost allocation within the first and second loss layers. (5) Costs of covered claims from $2 million up to statutory limits are paid under a reinsurance policy. Protection is provided per statutory liability under California Workers' Compensation Law. Employer's Liability losses are pooled among members to $2 million. Coverage from $2 million to $5 million is purchased as part of a reinsurance policy, and Employer's Liability losses from $5 million to $10 million are pooled among members. c. Purchased Insurance Pollution Legal Liability Insurance The City of Seal Beach participates in the pollution legal liability insurance program (formerly called environmental insurance) which is available through the Authority. The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned by the City of Seal Beach. Coverage is on a claims -made basis. There is a $50,000 deductible. The Authority has a limit of $50 million for the 3 -year period from July 1, 2011 through July 1, 2014. Each member of the Authority has a $10 million sub -limit during the 3 -year term of the policy. Property Insurance The City of Seal Beach participates in the all -risk property protection program of the Authority. This insurance protection is underwritten by several insurance companies. City of Seal Beach property is currently insured according to a schedule of covered property submitted by the City of Seal Beach to the Authority. City of Seal Beach property currently has all -risk property insurance protection in the amount of $44,464,452. There is a $5,000 deductible per occurrence except for non - emergency vehicle insurance which has a $1,000 deductible. Premiums for the coverage are paid annually and are not subject to retrospective adjustments. Earthquake and Flood Insurance The City of Seal Beach purchases earthquake and flood insurance on a portion of its property. The earthquake insurance is part of the property protection insurance program of the Authority. City of Seal Beach property currently has earthquake protection in the amount of $44,354,044. There is a deductible of 5% per unit of value with a minimum deductible of $100,000. Premiums for the coverage are paid annually and are not subject to retrospective adjustments. Liff CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 10: Liability, Property and Workers Compensation Protection (Continued) Crime Insurance The City of Seal Beach purchases crime insurance coverage in the amount of $3,000,000 with a $2,500 deductible. The fidelity coverage is provided through the Authority. Premiums are paid annually and are not subject to retrospective adjustments. d. Adequacy of Protection During the past three fiscal years, none of the programs of protection experienced settlements or judgments that exceeded pooled or insured coverage. There were also no significant reductions in pooled or insured liability coverage in 2012 -13. Note 11: Other Post - Employment Benefits Other than Pension Plan Descriptions The City of Seal Beach provides postretirement medical benefits to employees who retire directly from the City under CalPERS under a single - employer defined benefit post - employment benefits plan. Eligible retirees can continue participation in the City medical plans (PEMHCA). For miscellaneous retirees, the City contributes up to a capped dollar amount which varies by bargaining unit, medical coverage, and years of service. For police safety retirees, the City contribution rate varies by date of hire and date of retirement. City's Funding Policy The contribution requirements of plan members and the City are established and may be amended by City Council. For fiscal year 2012 -13, the City contributed $502,000 to the plan, including premiums. The City uses CalPERS to hold irrevocable employer contributions in a trust restricted for benefits under this program. CalPERS publishes a publically available financial report conforming to GASB Statement No. 43 that includes separately issued financial statements for the CalPERS OPEB Trust. Copies of PERS' annual financial reports for its OPEB Trust may be obtained from its executive office at 400 "Q" Street, Sacramento, California 95811. Annual OPEB Cost and Net OPEB Obligation The City's annual other postemployment benefit (OPEB) cost (expense) for each plan is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover 61 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 11: Other Post - Employment Benefits Other than Pension (Continued) the value of employer promised benefits expected to be earned or allocated for each fiscal year and to amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The City's annual OPEB cost for the current year and the related information for the plan are as follows: Annual required contribution $ 502,000 Interest on net OPEB obligation (14,580) Adjustment to annual required contribution 20,410 Annual OPEB cost (expense) 507,830 Contributions made (including premiums paid) (502,000) Increase (decrease) in net OPEB obligation 5,830 Net OPEB obligation (asset) — beginning of year (306,946) Net OPEB obligation (asset) — end of year $ (301,116) The City's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net OPEB obligation for 2013 and the two preceding years were as follows: Funded Status and Funding Progress Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared to past expectations and new estimates are made about the future. The schedule of funding progress, presented below, presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for the benefits. C. Net OPEB Percentage of OPEB Fiscal Year Annual OPEB Cost Obligation Ended OPEB Cost Contributed (Asset) 6/30/2011 $ 548,313 100.0% $ (312,512) 6/30/2012 491,566 100.0% (306,946) 6/30/2013 507,830 98.0% (301,116) Funded Status and Funding Progress Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared to past expectations and new estimates are made about the future. The schedule of funding progress, presented below, presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for the benefits. C. CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 11: Other Post - Employment Benefits Other than Pension (Continued) Schedule of Funding Progress (dollar amounts in thousands) (latest information available) Actuarial Methods and Assumptions Unfunded Actuarial Actuarial Actuarial Accrued Valuation Value of Liability (AAL)- Date Assets (a) Entry Age (b) 1/1/2007 $ - $ 6,667 1/1/2009 447 6,486 6/30/2011 1,738 6,902 Actuarial Methods and Assumptions Unfunded UAAL as a AAL Funded Percentage of (UAAL) ratio Covered covered payroll (b -a) (a /b) Payroll ((b -a) /c) $ 6,667 0% $ 6,757 98.69% 6,039 7% 6,997 86.31% 5,164 25% 8,083 63.89% Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and the plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short -term volatility in actuarial accrued liabilities and the actuarial assets, consistent with the long -term perspective of the calculations. Significant methods and assumptions were as follows: Actuarial valuation date Actuarial cost method Amortization method Amortization period Asset valuation method Actuarial assumptions: Investment rate of return* Projected salary increases* Healthcare inflation rate* * Includes an inflation assumption of 3.0 %. 63 6/30/2011 Entry Age Normal Level percentage of payroll, closed 30 years 5 -year smoothed market 7.25% 3.25% 9 -11% CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 12: Commitments and Contingencies Construction Commitments As of June 30, 2013, budgeted funds committed for major capital projects included the following: Note 13: Fund Balance /Net Position Restatement Beginning fund balances of the general fund have been restated to reclassify the transient occupancy tax revenue in the amount of $365,793 relating to the fiscal year ended June 30, 2012, but received and recorded during the fiscal year ended June 30, 2013. In addition, the Net Position was restated by $7,227,000 to properly reflect the Net Pension Asset related to the PERS Cost Sharing Plan at June 30, 2013. Note 14: Successor Agency Trust For Assets of Former Redevelopment Agency On December 29, 2011, the California Supreme Court upheld Assembly Bill 1 X 26 ( "the Bill ") that provides for the dissolution of all redevelopment agencies in the State of California. This action impacted the reporting entity of the City of Seal Beach that previously had reported a redevelopment agency within the reporting entity of the City as a blended component unit. The Bill provides that upon dissolution of a redevelopment agency, either the city or another unit of local government will agree to serve as the "successor agency" to hold the assets until they are distributed to other units of state and local government. On February 13, 2012, the City Council elected to become the Successor Agency for the former redevelopment agency in accordance with the Bill. After enactment of the law, which occurred on June 28, 2011, redevelopment agencies in the State of California cannot enter into new projects, obligations or commitments. Subject to the 64 Contract Expenditures Unexpended Amount To Date Balance 2012 Slurry Seal Project - Doug Martin Contracting $ 93, 735 $ 88, 726 $ 5, 009 Co., Inc. Ocean Ave. Alley 6st St. to Main St. - Charles King 783,625 740,250 43,375 Company Lampson Ave. Median - Diversified Landscape Management Inc. 228,704 226,261 2,443 10 yr Storm Improvement - PSOMAS 200,000 175,249 24,751 10 yr Storm Improvement - Michael Bubalo 1,292,953 1,234,862 58,091 10 yr Sewer Improvement - AKM 489,506 214,904 274,602 10 yr Sewer Improvement - Sancon Engineering 1,655,112 1,327,239 327,873 Local Street Resurfacing - Hardy Harper 264,000 230,241 33,759 College Park West -All American Asphalt 435,000 425,825 9,175 Seal Beach Blvd /Golden Rain - Flatiron 265,041 188,051 76,990 Arterial ST. Resurfacing - RJ Noble 159,000 144,894 14,106 Local Street Resurfacing - RJ Noble 4 c53 9fic' 108,667 Total $ 6,386,651 $ 5,407,810 $ 978,841 Note 13: Fund Balance /Net Position Restatement Beginning fund balances of the general fund have been restated to reclassify the transient occupancy tax revenue in the amount of $365,793 relating to the fiscal year ended June 30, 2012, but received and recorded during the fiscal year ended June 30, 2013. In addition, the Net Position was restated by $7,227,000 to properly reflect the Net Pension Asset related to the PERS Cost Sharing Plan at June 30, 2013. Note 14: Successor Agency Trust For Assets of Former Redevelopment Agency On December 29, 2011, the California Supreme Court upheld Assembly Bill 1 X 26 ( "the Bill ") that provides for the dissolution of all redevelopment agencies in the State of California. This action impacted the reporting entity of the City of Seal Beach that previously had reported a redevelopment agency within the reporting entity of the City as a blended component unit. The Bill provides that upon dissolution of a redevelopment agency, either the city or another unit of local government will agree to serve as the "successor agency" to hold the assets until they are distributed to other units of state and local government. On February 13, 2012, the City Council elected to become the Successor Agency for the former redevelopment agency in accordance with the Bill. After enactment of the law, which occurred on June 28, 2011, redevelopment agencies in the State of California cannot enter into new projects, obligations or commitments. Subject to the 64 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 14: Successor Agency Trust For Assets of Former Redevelopment Agency (Continued) control of a newly established oversight board, remaining assets can only be used to pay enforceable obligations in existence at the date of dissolution (including the completion of any unfinished projects that were subject to legally enforceable contractual commitments). In future fiscal years, successor agencies will only be allocated revenue in the amount that is necessary to pay the estimated annual installment payments on enforceable obligations of the former redevelopment agency until all enforceable obligations of the prior redevelopment agency have been paid in full and all assets have been liquidated. The Bill directs the State Controller of the State of California to review the propriety of any transfers of assets between redevelopment agencies and other public bodies that occurred after January 1, 2011. If the public body that received such transfers is not contractually committed to a third party for the expenditure or encumbrance of those assets, the State Controller is required to order the available assets to be transferred to the public body designated as the successor agency by the Bill. Management believes, in consultation with legal counsel, that the obligations of the former redevelopment agency due to the City are valid enforceable obligations payable by the successor agency trust under the requirements of the Bill. The City's position on this issue is not a position of settled law and there is considerable legal uncertainty regarding this issue. It is reasonably possible that a legal determination may be made at a later date by an appropriate judicial authority that would resolve this issue unfavorably to the City. In accordance with the timeline set forth in the Bill (as modified by the California Supreme Court on December 29, 2011) all redevelopment agencies in the State of California were dissolved and ceased to operate as a legal entity as of February 1, 2012. a. Cash and investments Cash and investments reported in the accompanying financial statements consisted of the following: Cash and investments pooled with the City $ 776,449 Cash and investments with fiscal agent 740,768 $ 1,517,217 b. Loans Receivable As of June 30, 2013, the following loans receivable were outstanding: Housing rehabilitation CW 18,085 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 14: Successor Agency Trust For Assets of Former Redevelopment Agency (Continued) The Seal Beach Redevelopment Agency had made several housing rehabilitation loans totaling $1,971,776 to qualified applicants. This receivable was transferred to the Successor agency upon dissolution of the redevelopment agency. c. Capital Assets Fiduciary Activities: Successor Agency of the Former RDA Capital assets, not being depreciated: Land Total Capital Assets, Not Being Depreciated Capital assets, being depreciated: Buildings and improvements Machinery and equipment Total Capital Assets, Being Depreciated Less accumulated depreciation: Buildings and improvements Machinery and equipment Total Accumulated Depreciation Total Capital Assets, Being Depreciated, Net Governmental Activities Capital Assets, Net d. Long -term Debt Beginning Ending Balance Additions Deletions Balance $ 403,192 $ - $ - $ 403,192 403,192 - - 403,192 1,470,288 - - 1,470,288 64,784 - - 64,784 1,535,072 - - 1,535,072 1,063,315 25,570 - 1,088,885 51,844 6,478 - 58,322 1,115,159 32,048 - 1,147,207 419,913 (32,048) - 387,865 $ 823,105 $ (32,048) $ - $ 791,057 Long -term liability activity for the year ended June 30, 2013, was as follows: Balance Balance Due Within July 1, 2012 Additions Deletions June 30, 2013 One Year Fiduciary Activities 2000 Tax Allocation Bonds Series A $ 4,775,000 $ - $ 430,000 $ 4,345,000 $ 450,000 2000 Tax Allocation Bonds Series B 350,000 - 40,000 310,000 45,000 Total $ 5,125, 000 $ - $ 470,000 $ 4,655,000 $ 495,000 A description of the individual issues of bonds of the Successor Agency of the former redevelopment agency outstanding as of June 30, 2013, follows: .: CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 14: Successor Agency Trust For Assets of Former Redevelopment Agency (Continued) Agency 2000 Tax Allocation Refunding Bonds On December 20, 2000, the Agency issued 2000 Tax Allocation Refunding Bonds for the Riverfront Redevelopment Project in the amounts of $8,520,000 and $685,000 for Series A and B, respectively. Interest rate on the bonds varies from 4% to 5.375 %. The Agency used the proceeds of Series A Bonds to finance the refunding and defeasance of $1,380,000 of 1986 Tax Allocation Bonds and $3,715,000 of 1991 Tax Allocation Bonds. Series B Bonds were used to pay bond issuance costs and finance certain redevelopment activities of the Agency. The Series A Bonds are payable exclusively from Tax Revenues and certain funds and accounts held under the indenture. Series B Bonds are to be paid exclusively from Surplus Tax Revenues and certain funds and accounts held under the indenture. The balances in the Series A and B bonds outstanding at June 30, 2013, were $4,345,000 and $310,000 respectively. This liability was transferred to the Successor Agency upon dissolution of the redevelopment agency. The annual debt service requirements on the tax allocation bonds as of June 30, 2013, are as follows: Year Ending June 30, 2014 2015 2016 2017 2018 2019 -2023 2024 Total 2000 Tax Allocation Refunding 2000 Tax Allocation Refunding Bonds, Series A Bonds, Series B Principal $ 450,000 470,000 495,000 520,000 545,000 1,680,000 185,000 Interest $ 212,875 190,325 166,200 140,565 113,271 208,316 4,972 Principal $ 45,000 45,000 50,000 55,000 55,000 60,000 Interest $ 16,531 13,944 11,213 8,194 5,031 1,725 $ 4,345,000 $ 1,036,524 $ 310,000 $ 56,638 On June 14, 2012, Moody's Investors Service ( "Moody's ") downgraded all California tax allocation bonds rated `Baa3' and above. As such, the Bonds' insured rating was downgraded from `A3' to `Ba1' and underlying rating was downgraded from `A3' to `Ba1'. According to Moody's, all California tax allocation bond ratings remain on review for possible withdrawal. 67 CITY OF SEAL BEACH NOTES TO FINANCIAL STATEMENTS (CONTINUED) JUNE 30, 2013 Note 14: Successor Agency Trust For Assets of Former Redevelopment Agency (Continued) e. Pledged Revenue The Successor Agency has debt issuances outstanding that are collateralized by the pledging of certain revenues. The amount and term of the remainder of these commitments are indicated in the debt service to maturity tables presented in the accompanying notes. The purposes for which the proceeds of the related debt issuances were utilized are disclosed in the debt descriptions in the accompanying notes. For the current year, debt service payments as a percentage of the pledged gross revenue (or net of certain expenses where so required by the debt agreement) are indicated for the five months the Successor Agency obtained the former Redevelopment Agency tax allocation debt in the table below. These percentages also approximate the relationship of debt service to pledged revenue for the remainder of the term of the commitment: Annual Debt Service Payments (of all debt Debt Service as a Description of Pledged Annual Amount secured by this Percentage of Pledged Revenue of Revenue revenue) Revenue Property tax f. Insurance The Successor Agency Therefore, the limitation the Successor Agency. can be found in Note 10. $ 1,357,253 $ 682,795 50.3% is covered under the City of Seal Beach's insurance policies. and self- insured retentions applicable to the City also apply to Additional information as to coverage and self- insured retentions .: UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! CITY OF SEAL BEACH COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2013 70 Special Revenue Funds Supplemental Street Law Detention Police Asset Lighting Enforcement Center Forfeiture Assets: Pooled cash and investments $ 13,240 $ 95,314 $ 3,442 $ 4,825 Receivables: Accounts - - 58 - Taxes 1,355 - - - Due from other governments - - - - Restricted assets: Cash and investments with fiscal agents - - - - Total Assets $ 14,595 $ 95,314 $ 3,500 $ 4,825 Liabilities, Deferred inflows of Resources, and Fund Balances: Liabilities: Accounts payable $ 14,595 $ 3,636 $ 1,925 $ - Accrued liabilities - 2,597 - - Due to other funds - - - - Total Liabilities 14,595 6,233 1,925 - Deferred Inflows of Resources: Unavailable revenues - - - - Total Deferred Inflows of Resources - - - - Fund Balances: Restricted for: Community development projects - - - - Public safety - 89,081 1,575 4,825 Community services - - - - Public works - - - - Debt service - - - - General government - grants - - - - Unassigned - - - - Total Fund Balances - 89,081 1,575 4,825 Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 14,595 $ 95,314 $ 3,500 $ 4,825 70 CITY OF SEAL BEACH COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2013 (CONTINUED) 71 Special Revenue Funds Traffic Air Quality Parks and Impact AB State Improvement Recreation 1600 Gasoline Tax Assets: Pooled cash and investments $ 499 $ 17,973 $ 747,744 $ 510,358 Receivables: Accounts 7,693 - - - Taxes - - - - Due from other governments - - - - Restricted assets: Cash and investments with fiscal agents - - - - Total Assets $ 8,192 $ 17,973 $ 747,744 $ 510,358 Liabilities, Deferred inflows of Resources, and Fund Balances: Liabilities: Accounts payable $ 30 $ - $ - $ - Accrued liabilities - - - - Due to other funds - - - - Total Liabilities 30 - - - Deferred Inflows of Resources: Unavailable revenues - - - - Total Deferred Inflows of Resources - - - - Fund Balances: Restricted for: Community development projects - - - - Public safety - - - - Community services - 17,973 - - Public works 8,162 - 747,744 510,358 Debt service - - - - General government - grants - - - - Unassigned - - - - Total Fund Balances 8,162 17,973 747,744 510,358 Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 8,192 $ 17,973 $ 747,744 $ 510,358 71 CITY OF SEAL BEACH COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2013 72 Special Revenue Funds Roberti - Z'berg Harris Community Urban Open Development Measure M Space Grants Block Grant Assets: Pooled cash and investments $ 573,043 $ 412 $ 56,158 $ - Receivables: Accounts 66,292 - - 4,570 Taxes - - - - Due from other governments - - - - Restricted assets: Cash and investments with fiscal agents - - - - Total Assets $ 639,335 $ 412 $ 56,158 $ 4,570 Liabilities, Deferred inflows of Resources, and Fund Balances: Liabilities: Accounts payable $ - $ - $ - $ - Accrued liabilities - - - - Due to other funds - - - 4,570 Total Liabilities - - - 4,570 Deferred Inflows of Resources: Unavailable revenues - - - - Total Deferred Inflows of Resources - - - - Fund Balances: Restricted for: Community development projects - - - - Public safety - - - - Community services - - - - Public works 639,335 412 - - Debt service - - - - General government - grants - - 56,158 - Unassigned - - - - Total Fund Balances 639,335 412 56,158 - Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 639,335 $ 412 $ 56,158 $ 4,570 72 CITY OF SEAL BEACH COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2013 (CONTINUED) Special Revenue Funds 73 Police Citywide Landscape Grants Grants District Heron Pointe Assets: Pooled cash and investments $ - $ - $ 518,392 $ 46,800 Receivables: Accounts - - - - Taxes - - - - Due from other governments 44,554 215,174 - - Restricted assets: Cash and investments with fiscal agents - - - - Total Assets $ 44,554 $ 215,174 $ 518,392 $ 46,800 Liabilities, Deferred inflows of Resources, and Fund Balances: Liabilities: Accounts payable $ - $ - $ 3,952 $ - Accrued liabilities - - - - Due to other funds 57,165 44,612 - - Total Liabilities 57,165 44,612 3,952 - Deferred Inflows of Resources: Unavailable revenues - 215,173 - - Total Deferred Inflows of Resources - 215,173 - - Fund Balances: Restricted for: Community development projects - - 514,440 46,800 Public safety - - - - Community services - - - - Public works - - - - Debt service - - - - General government - grants - - - - Unassigned (12,611) (44,611) - - Total Fund Balances (12,611) (44,611) 514,440 46,800 Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 44,554 $ 215,174 $ 518,392 $ 46,800 73 CITY OF SEAL BEACH COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2013 Assets: Pooled cash and investments Receivables: Accounts Taxes Due from other governments Restricted assets: Cash and investments with fiscal agents Total Assets Liabilities, Deferred inflows of Resources, and Fund Balances: Liabilities: Accounts payable Accrued liabilities Due to other funds Total Liabilities Deferred Inflows of Resources: Unavailable revenues Total Deferred Inflows of Resources Fund Balances: Restricted for: Community development projects Public safety Community services Public works Debt service General government - grants Unassigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances 74 Special Revenue Debt Service Total Governmental Pacific City Debt Gateway Service Funds $ 213,304 $ - $ 2,801,504 - - 78,613 - - 1,355 - - 259,728 - 716,063 716,063 $ 213,304 $ 716,063 $ 3,857,263 $ 1,860 $ 2,500 $ 28,498 - - 2,597 - - 106,347 1,860 2,500 137,442 - - 215,173 215,173 211,444 - 772,684 - - 95,481 - - 17,973 - - 1,906,011 - 713,563 713,563 - - 56,158 - - (57,222) 211,444 713,563 3,504,648 $ 213,304 $ 716,063 $ 3,857,263 UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! 75 DJUZ!P(3TFBMCFBDI ! DP N CJaOH!TUBUFN FOU!P G!SFV\FOVFT- FYOFOE,UVSFT!BOE!DI BOHFT!JD!(aOE!CBM30DFT! OPON BKPS!HPV\FSON FOUBMGVOET! ZFBS!FOEFE!KVOF!41 -!3124 I Sf\Afovft; Ubyf t .brf shpv�f son f orbm Di bshf t !g)s!t f snjdf t Vt f !pdn pof z!boe!gspgf srz qof t !boe!g)sjjLvsf t !!!!!!!!!!!!!!!UpLbrfSf v`f ovf t Fyqf oejrvsf t ; Dvsf oy !!!Hf of sbrthipNf son f ou !!!Qvcod!t bj u? !!!Dpn n vojrz!ef v\f rpgn f ou !!!Odcrjd!x pd t Ef cdt f 94df ; !!!OsjodjgbW Osf n f ou !!!.brf sf t dboe!gt dbrtdi bshf t !!!!r!!r!!!!!!! pLbrffygf oejLvsf t !!!!!!!!!!!!!!!Fydf t t !)Ef gdjf odz*!pdSf v`f ovf t !!!!!!!!!!!!!!!!Pv\f s!)Voef e!Fygf oejrvsf t Pd fs!gobodjoh!Tpvsdit!)Vtft ; Usbot I st !jo Usbot I st ! pv u !!!!!!!!!!!!!!!UprbrtPd fs!gobodjoh!Tpvsdit !!!!!!!!!!!!!!!!!)Vt f t !!!!!!!!!!!!!!!Of dDi bohf !jo!O✓oe!Cbrbodf t G✓oe!Cbr!aodf t -!Cf hjoojoh!pdZf bs O✓oe!Cbrbodf t - !Foe!pdZf bs Tqf djbrtSf \nf ovf !O✓oet !Tub f d Tvgqrhn f orbrt !Ef d• oOpo! !Op #f !Bt t f d Njhi Ooh! fVbx ! Df orf s! Gpsgf jrvI ! WT! r256 -6:2 Off!!!!!!!!!!!!!!!!!! off!!!!!!!!!!!!!!!!!! Off!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! TT T21 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!25 -336 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!553 ..................... ..................... !!!!!!!!!!!!!!!!!!!!! ..................... !!!!!!!!!!!!!HH.42 ..................... !!!!!!!!x256 -6:2 !!!!!!!!211 -653 !!!!!!!!!!25 -336 !!!!!!!!!!!!!!!!!42 !!!!!!!!i2:: -715 !!!!!!!!!!!!!!!!!!!!! !!! HH!227 -: 34 !!!!!!!!!!29445 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!x2:: -715 !!!!!x!!!227 -: 34 !!!!!!H!!29445 !!!!!!!!!965 -124- !!!!!!!!!927492 - !!!!!!!!!!!95 -21: ` !!!!!!!!!!!!!!!!!42 !!!!!!!!!!!7: -17: !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!26 -167 !!!!!!!!!927492 !!!!!!!!!!!95 -21: ` !!!!!!!!!!!!!HH.42 !!!!!!!!!926 -167- !!!!!!!!x216 -573 !!!!!!!!!!!!5 -795 !!!!!!!!!!!!5 -8:5 o/U!!!!!!!!!!!!!!!! o!!!!!0: -192 0/V!!!!!!!2-686 OW!!!!!!!5 -936 Mv DJUZ!P(3TFBMCFBDI ! DP N CJaOH!TUBUFN FOU!P GISFV\FOVFT- FYOFOE,UVSFT!BOE!DI BOHFT!JD!(aOE!CBM30DFT! OPON BKPS!HPV\FSON FOUBMGVOET! !! !! !! !! ZFBS!FOEFE!KVOF!41 -!3124 )DPOU OVFE` I Sf\Afovft; Ubyf t .brf shpv�f son f orbm Di bshf t !g)s!t f snjdf t Vt f !pdn pof z!boe!gspgf srz qof t !boe!g)sjjLvsf t !!!!!!!!!!!!!!!UpLbrfSf v`f ovf t Fyqf oejrvsf t ; Dvsf oy !!!Hf of sbrthpv\f son f ou !!!Qvcrjd!t bj u? !!!Dpn n vojrz!ef v\f rpgn f ou !!!Odcrjd!x pd t Ef cdt f snjdf ; !!!OsjodjgbW rjsf n f ou !!!.brf sf t dboe!gt dbrtdi bshf t !!!!r!!r!!!!!!! pLbrffygf oejLvsf t !!!!!!!!!!!!!!!Fydf t t !)Ef gdjf odz*!pdSf v`f ovf t !!!!!!!!!!!!!!!!P\4 s!)Voef e!Fygf oejasf t Pd fs!gobodjoh!Tpvsdit!)Vtft ; Usbot I st !jo Usbot I st ! pv u !!!!!!!11!!1!!!UprbrfPd fs!gobodjoh!Tpvsdit !!!!!!!!!!!!!!!!!)Vt f t !!!!!!!!!!!!!!!Of dDi bohf !jo!O✓oe!Cbrbodf t G✓oe!Cbrbodf t -!Cf hjoojoh!pdZf bs G✓oe!Cbrbodf t - !Foe!pdZf bs Tqf djbrfSf \nf ovf !O✓oet !!!!!!!!!!!48 -1: 8 !!!!!!!!!!!!!!!!428 !!!!!!!!!!2: -349 !!!!!!!!731 -999 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!64 -236 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!r2 -3:2 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!64 -236 !!!!!!!!!!!!!!!i!!!!! !!!!!!i!!!!!!!!!!!!!! !!!!iHHH!2-3:2 !!!!!!!!!�47 -139- !!!!!!!!!!!!!!!1.428 !!!!!!!!!I2: -349 !!!!!!!!!72: -6: 8 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!t 73 -239 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!D57 -853- !!!!!!!D344 -733* !!!!!!!D549 -:3: !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!D57 -853- !!!!!!!!639 -617 !!!!!!! .D549 -: 3: " !1!!1!!!!47 -139' !!1!!!!!!D57 -536- !!!!!!!!658 -855 !1!!1!!!291 -779 °/d!11!!1!1!8 -273 OA!!!!!!!28 -: 84 OM!!!658 -855 °Id! PR321 -469 77 !UsbWd! !Bjs!Rvboz! !Obsl t!boe! h gbdrfBC! !TLbrf! .h gspv\f n f od Sf dsf brjpo! 2711! Hbt prjof !Uby! off!!!!!!!!!!!!!!!!!! off!!!!!!!!!!!!!!!!!! off!!!!!!!!!!!!!!!!!! o/�!!!!!!728 -912 !!!!!!!!!!47 -988 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!29 -927 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!331 !!!!!!!!!!!!!!!428 !!!!!!!!!!!!!!!1533 !!!!!!!!!!!!!4 -198 !!!!!!!!!!!48 -1: 8 !!!!!!!!!!!!!!!!428 !!!!!!!!!!2: -349 !!!!!!!!731 -999 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!64 -236 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!r2 -3:2 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!64 -236 !!!!!!!!!!!!!!!i!!!!! !!!!!!i!!!!!!!!!!!!!! !!!!iHHH!2-3:2 !!!!!!!!!�47 -139- !!!!!!!!!!!!!!!1.428 !!!!!!!!!I2: -349 !!!!!!!!!72: -6: 8 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!t 73 -239 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!D57 -853- !!!!!!!D344 -733* !!!!!!!D549 -:3: !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!D57 -853- !!!!!!!!639 -617 !!!!!!! .D549 -: 3: " !1!!1!!!!47 -139' !!1!!!!!!D57 -536- !!!!!!!!658 -855 !1!!1!!!291 -779 °/d!11!!1!1!8 -273 OA!!!!!!!28 -: 84 OM!!!658 -855 °Id! PR321 -469 77 DJUZ!P(3TFBMCFBDI ! DP N CJaOH!TUBUFN FOU!P GISFV\FOVFT- FYOFOE,UVSFT!BOE!DI BOHFT!JD!(aOE!CBM30DFT! OPON BKPS!HPV\FSON FOUBMGVOET! !! ZFBS!FOEFE!KVOF!41 -!3124 ! Sf\Afovft; Ubyf t .brf shpv�f son f orbm Di bshf t !g)slt f snjdf t Vt f !pdn pof z!boe!gspgf srz qof t !boe!g)sjjLvsf t !!!!!!!!!!!!!!!UpLbrfSf v`f ovf t Fyqf oejrvsf t ; Dvsf oy !!!Hf of sbrtbpv\f son f ou !!!Qvcod!t bj u? !!!Dpn n vojrz!ef v\f rpgn f ou !!!Odcrjd!x pd t Ef cdt f 94df ; !!!OsjodjgbW rjsf n f ou !!!.brf sf t dboe!gt dbridi bshf t !!!!r!!r!!!!!!!prbrffygf oejLvsf t !!!!!!!!!!!!!!!Fydf t t !)Ef gdjf odz*!pdSf v`f ovf t !!!!!!!!!!!!!!!!P\4 sl)Voef e!Fygf oejasf t Pd fs!gobodjoh!Tpvsdit!)Vtft ; Usbot I st !jo Usbot I st ! pv u !!!!!!!!!!!!!!!UprbrfPd fs!gobodjoh!Tpvsdit !!!!!!!!!!!!!!!!!)Vt f t !!!!!!!!!!!!!!!Of dDi bohf !jo!O✓oe!Cbrbodf t G✓oe!Cbrbodf t -!Cf hjoojoh!pdZf bs Tqf djbrf8f \nf ovf !O✓oet !Spcf &A. !Dpn n voju?! [ (cf sh!I bssjt ! Ef d rpgn f od !Nf bt vsf !N ! Vscbo!Pgf o! !HsboLt ! Crpol !HsboLl 'A!!!!! L47: -: 42 off!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!1523 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!r28: -945 !!!!!!!!!!!!54:9 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!473 -813 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!)842 -643 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! II HH)479 -941` !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!B -5:: !!!!!!!!!!!!!!!1523 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! G✓oe!Cbrbodf t - !Foe!pdZf bs 0/V!!!!74: 446 0/V!!!!!!!!!!1523 0/V!!!!!!67 -269 °/d!!!!!!!!!!!!!!!!!! 78 DJUZ!P(3TFBMCFBDI ! DP N CJaOH!TUBUFN FOU!P G!SFV\FOVFT- FYOFOE,UVSFT!BOE!DI BOHFT!JD!(aOE!CBM30DFT! OPON BKPS!HPV\FSON FOUBMGVOET! !! !! !! !! ZFBS!FOEFE!KVOF!41 -!3124 )DPOU OVFE" ! Sf\Afovft; Ubyf t .brf shpv�f son f orbm Di bshf t !g)s!t f snjdf t Vt f !pdn pof z!boe!gspgf srz qof t !boe!g)sjjLvsf t !!!!!!!!!!!!!!!UpLbrfSf v`f ovf t Fyqf oejrvsf t ; Dvsf oy !!!Hf of sbrthipv\f son f ou !!!Qvcod!t bj u? !!!Dpn n vojrz!ef v\f rpgn f ou !!!O\ICN!x pd t Ef cdt f 94df ; !!!QsjodjgbW rjsf n f ou !!!.brf sf t dboe!gt dbridi bshf t !!!!r!!r!!!!!!! pLbrffygf oejLvsf t !!!!!!!!!!!!!!!Fydf t t !)Ef gdjf odz*!pdSf v`f ovf t !!!!!!!!!!!!!!!!P\4 s!)Voef e!Fygf oejasf t Pd fs!gobodjoh!Tpvsdit!)Vtft ; Usbot I st !jo Usbot I st ! pv u !!!!!!!!!!!!!!!UprbrtPd fs!gobodjoh!Tpvsdit !!!!!!!!!!!!!!!!!)Vt f t !!!!!!!!!!!!!!!Of dDi bohf !jo!O✓oe!Cbrbodf t O✓oe!Cbrbodf t -!Cf hjoojoh!pdZf bs O✓oe!Cbrbodf t - !Foe!pdZf bs Tqf djbrtSf \nf ovf !O✓oet !Qp#f ! !Dju?x jef ! !Nboet dbqf ! !!!!!!!!!!!!!B -:87 Hsbod ! Hsbod ! Ejt uodd !I f spo!Qpjorf !!!!!!!!!82: -7: 3 !!!!!!!!x211 -3: 8 !!!!!!!!!!!128438 OM!!!271 -722 °/b!!!!!!!!!!!!!!!!!!! !!!!!!!!!!62 -517 !!!!!!!!!841474 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!126 -111 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!8 -:54 !!!!!!!!!!!!!!!!!414 !!!!!!!!!!t 8 -366 !!!!!!!!!841474 !!!!!!!!274 -665 !!!!!!!!!!!66414 !!!!!!!!!211 -279 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!q4 -368 !!!!!!!!!!!!!B -:87 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!21 -782 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!211 -279 !!!!!!!!!!21 -782 !!!!!!HHV4 -368 !!!!!!!!!!!!!B -:87 !!!!!!!!!!!�3 -: 24" !!!!!!!!!82: -7: 3 !!!!!!!!x211 -3: 8 !!!!!!!!!!!128438 mmm 24* -7: 9* %d!!!!!! X23 -722- 79 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!! !!!!!!! 429 -683- !!!!!!!!!�23 -111 !!!!!!!!!!�22 -111 !!!!!!! 429 -683' !!!!!!!!!�23 -111 !!!!!!!!!!)22 -111 !!!!!!!!!512 -231 !!!!!!!!!!!99 -3:8 !!!!!!!!!!!!!x1438 !!!!!!!556 -842` !!!!!!!!637 -254 !!!!!!!!!!!61 -584 °Id!!!!!!D55 -722- °Id!!!!!!625 -551 °/d!!!!!!!!67 -911 DJUZ!P(3TFBMCFBDI ! DP N CJaOH!TUBUFN FOU!P G!SFV\FOVFT- FYOFOE,UVSFT!BOE!DI BOHFT!JD!(aOE!CBM30DFT! OPON BKPS!HPV\FSON FOUBMGVOET! ZFBS!FOEFE!KVOF!41 -!3124 ! Sf\Afovft; Ubyf t .brf shpv�f son f orbm Di bshf t !g)s!t f snjdf t Vt f !pdn pof z!boe!gspgf srz qof t !boe!g)sdjLvsf t !!!!!!!!!!!!!!!UpLbrfSf v`f ovf t Fyqf oejrvsf t ; Dvsf oy !!!Hf of sbftpv\f son f ou !!!Qvcod!t bd u? !!!Dpn n vojrz!ef v\f rpgn f ou !!!Odcrjd!x pd t Ef cdt f snjdf ; !!!OsjodjgbW rjsf n f ou !!!.brf sf t dboe!dt dbridi bshf t !!!!r!!r!!!!!!!prbrffygf oejLvsf t !!!!!!!!!!!!!!!Fydf t t !)Ef ddjf odz*!pdSf v`f ovf t !!!!!!!!!!!!!!!!P\4 s!)Voef e!Fygf oejasf t Pd fs!gobodjoh!Tpvsdit!)Vtft ; Usbot d st !jo Usbot I st ! pv u !!!!!!!!!!!!!!!UprbrtPd fs!gobodjoh!Tpvsdit !!!!!!!!!!!!!!!!!)Vt f t !!!!!!!!!!!!!!!Of dDi bohf !jo!O✓oe!Cbrbodf t G✓oe!Cbrbodf t -!Cf hjoojoh!pdZf bs O✓oe!Cbrbodf t - !Foe!pdZf bs :t !Tqf djbrtSf \Af ovf ! !Ef cdTf svydf O✓oet ! O✓oet ! Up rbm !Dju?!Ef cd Hp\Af son f orbn !Obdjdd!Hbrf x bz! Tf svydf ! O✓oet OM!!!!!!!!!!!624:1 0!!!!!!!!!!!!!!!! OA 2456 -435 !!!!!!!!!!!!!!!!B6 -111 !!!!!!!!!!!!!!!!!!!!! !!!!!2- 279 -9:3 !!!!!!! H 44 -152 !!!!!!!!!!!!!!!!!!12434 !!!!!!!!!!!!!!!!!99 !!!!!!!!!!24 -785 !!!!!!!!HM -95: !!!!!!!!!!!!!!!!B8 -824 !!!!!!!!!!!!!!!!!99 !!!!!!3- 697 -891 IIfIIfII2:: -715 !!!!!!!!!!!!B -611 !!!!!!!!!348 -:36 !!!!!!!!!!!!!!!!g: 477 !!!!!!!!!!!!!!!!!!!!! !!!!!!!!I3: 1 -544 !!!!!!!!!!96 -198 !!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!2 -713 -111 !!!!!2- 713 -111 !!!!!!!!!665 -129 !!!!!!!!!665 -129 !!!!!!!!!!!!!!!!4: 477 !!!!!B- 269 -629 !!!!!!3 -: 7: -178 !!!!!!!!!!!!!!!!!49 458 !!!!93- 269 -541" !!!!!!!9493-398 - !!!!!!3 -22: -744 !!!!!!4- 624 -643 !!!!!!!!!!!!!!!937 -111 !!!!!!!!!!!!!!!!!!!!! !!!![J2- 929-4:8 !!!!!!!!!!!!!!!937 -111- !!!!!I3 -22: -744 !!!!!2 -7: 6 -246 !!!!!!!!!!!!!!!!123 458 !!!!!!!!!949 -8: 8` !!!!!2423 -959 !!!!!!!!!!!!!!2:: -1: 8 !!!!!!!!!863471 !!!!!!3 -2: 2 -911 °Id!!!!!!!!!!!1322 -555 OW!!!!824 -674 °/d!!!4- 615 -759 CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE STREET LIGHTING YEAR ENDED JUNE 30, 2013 Budgetary Fund Balance, July 1 Resources (Inflows): Taxes Transfers in Amounts Available for Appropriation Charges to Appropriation (Outflow): General government Total Charges to Appropriations Budgetary Fund Balance, June 30 81 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) $ (15,056) $ (15,056) $ (15,056) $ - 143,871 143,871 145,591 1,720 55,629 55,629 69,069 13,440 184,444 184,444 199,604 15,160 199,500 199,500 199,604 (1 04L 199,500 199,500 199,604 (104) $ (15,056) $ (15,056) $ - $ 15,056 81 CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE SUPPLEMENTAL LAW ENFORCEMENT YEAR ENDED JUNE 30, 2013 Budgetary Fund Balance, July 1 Resources (Inflows): Intergovernmental Use of money and property Amounts Available for Appropriation Charges to Appropriation (Outflow): Public safety Total Charges to Appropriations Budgetary Fund Balance, June 30 M Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) $ 105,462 $ 105,462 $ 105,462 $ - 100,000 100,000 100,000 - 300 300 542 242 205,762 205,762 206,004 242 151,010 151,010 116,923 34,087 151,010 151,010 116,923 34,087 $ 54,752 $ 54,752 $ 89,081 $ 34,329 M CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE DETENTION CENTER YEAR ENDED JUNE 30, 2013 83 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) Budgetary Fund Balance, July 1 $ 5,684 $ 5,684 $ 5,684 $ - Resources (Inflows): Charges for services 16,000 16,000 14,225 (1,775) Amounts Available for Appropriation 21,684 21,684 19,909 (1,775) Charges to Appropriation (Outflow): Public safety 25,000 25,000 18,334 6,666 Total Charges to Appropriations 25,000 25,000 18,334 6,666 Budgetary Fund Balance, June 30 $ (3,316) $ (3,316) $ 1,575 $ 4,891 83 CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE POLICE ASSET FORFEITURE YEAR ENDED JUNE 30, 2013 ;.i Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) Budgetary Fund Balance, July 1 $ 4,794 $ 4,794 $ 4,794 $ - Resources (Inflows): Use of money and property 20 20 31 11 Amounts Available for Appropriation 4,814 4,814 4,825 11 Charges to Appropriation (Outflow): Public safety 4,769 4,769 - 4,769 Total Charges to Appropriations 4,769 4,769 - 4,769 Budgetary Fund Balance, June 30 $ 45 $ 45 $ 4,825 $ 4,780 ;.i CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE AIR QUALITY IMPROVEMENT YEAR ENDED JUNE 30, 2013 Budgetary Fund Balance, July 1 Resources (Inflows): Intergovernmental Use of money and property Amounts Available for Appropriation Charges to Appropriation (Outflow): Public works Total Charges to Appropriations Budgetary Fund Balance, June 30 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) $ 44,190 $ 44,190 $ 44,190 $ - 30,000 30,000 36,877 6,877 200 200 220 20 74,390 74,390 81,287 6,897 30,800 31,350 73,125 (41,775) 30,800 31,350 73,125 (41,775) $ 43,590 $ 43,040 $ 8,162 $ (34,878) (-9 CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE COMMUNITY SERVICES YEAR ENDED JUNE 30, 2013 Budgetary Fund Balance, July 1 Resources (Inflows): Intergovernmental Use of money and property Amounts Available for Appropriation Charges to Appropriation (Outflow): Transfers out Total Charges to Appropriations Budgetary Fund Balance, June 30 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) $ 64,398 $ 64,398 $ 64,398 $ - 5,000 5,000 - (5,000) 200 200 317 117 69,598 69,598 64,715 (4,883) 57,000 57,000 46,742 10,258 57,000 57,000 46,742 10,258 $ 12,598 $ 12,598 $ 17,973 $ 5,375 :: CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE STATE GASOLINE TAX YEAR ENDED JUNE 30, 2013 87 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) Budgetary Fund Balance, July 1 $ 329,690 $ 329,690 $ 329,690 $ - Resources (Inflows): Taxes 683,356 683,356 617,801 (65,555) Use of money and property 1,300 1,300 3,087 1,787 Amounts Available for Appropriation 1,014,346 1,014,346 950,578 (63,768) Charges to Appropriation (Outflow): Public works 2,000 2,000 1,291 709 Transfers out 950,000 961,325 438,929 522,396 Total Charges to Appropriations 952,000 963,325 440,220 523,105 Budgetary Fund Balance, June 30 $ 62,346 $ 51,021 $ 510,358 $ 459,337 87 CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE MEASURE M YEAR ENDED JUNE 30, 2013 :: Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) Budgetary Fund Balance, July 1 $ 633,836 $ 633,836 $ 633,836 $ - Resources (Inflows): Taxes 370,623 370,623 369,931 (692) Use of money and property 2,000 2,000 4,398 2,398 Transfers in - - 362,702 362,702 Amounts Available for Appropriation 1,006,459 1,006,459 1,370,867 364,408 Charges to Appropriation (Outflow): Transfers out 550,000 550,000 731,532 (181,532) Total Charges to Appropriations 550,000 550,000 731,532 (181,532) Budgetary Fund Balance, June 30 $ 456,459 $ 456,459 $ 639,335 $ 182,876 :: CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE COMMUNITY DEVELOPMENT BLOCK GRANT YEAR ENDED JUNE 30, 2013 Budgetary Fund Balance, July 1 Resources (Inflows): Intergovernmental Amounts Available for Appropriation Charges to Appropriation (Outflow): Community improvement Total Charges to Appropriations Budgetary Fund Balance, June 30 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) 180,000 180,000 179,834 (166) 180,000 180,000 179,834 (166) 180,000 180,000 179,834 180,000 180,000 179,834 .. 166 CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE POLICE GRANTS YEAR ENDED JUNE 30, 2013 M Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) Budgetary Fund Balance, July 1 $ (9,698) $ (9,698) $ (9,698) $ - Resources (Inflows): Intergovernmental 78,975 78,975 71,406 (7,569) Fines and forfeitures - 47,083 25,849 (21,234) Amounts Available for Appropriation 69,277 116,360 87,557 (28,803) Charges to Appropriation (Outflow): Public safety 78,975 126,058 100,168 25,890 Total Charges to Appropriations 78,975 126,058 100,168 25,890 Budgetary Fund Balance, June 30 $ (9,698) $ (9,698) $ (12,611) $ (2,913) M CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE CITYWIDE GRANTS YEAR ENDED JUNE 30, 2013 Budgetary Fund Balance, July 1 Resources (Inflows): Intergovernmental Amounts Available for Appropriation Charges to Appropriation (Outflow): Public works Transfers out Total Charges to Appropriations Budgetary Fund Balance, June 30 $ (595,731) $ (489,691) $ (44,611) $ 445,080 91 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) $ (445,731) $ (445,731) $ (445,731) $ - 500,000 510,671 730,363 219,692 54,269 64,940 284,632 219,692 - 10,671 10,671 - 650,000 543,960 318,572 225,388 650,000 554,631 329,243 225,388 Budgetary Fund Balance, June 30 $ (595,731) $ (489,691) $ (44,611) $ 445,080 91 CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE LANDSCAPE DISTRICT YEAR ENDED JUNE 30, 2013 ( Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) Budgetary Fund Balance, July 1 $ 426,143 $ 426,143 $ 426,143 $ - Resources (Inflows): Taxes 140,200 140,200 160,611 20,411 Use of money and property 1,500 1,500 2,943 1,443 Amounts Available for Appropriation 567,843 567,843 589,697 21,854 Charges to Appropriation (Outflow): Community improvement 64,074 64,074 63,257 817 Transfers out 12,000 12,000 12,000 - Total Charges to Appropriations 76,074 76,074 75,257 817 Budgetary Fund Balance, June 30 $ 491,769 $ 491,769 $ 514,440 $ 22,671 ( CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE HERON POINTE YEAR ENDED JUNE 30, 2013 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) Budgetary Fund Balance, July 1 $ 40,473 $ 40,473 $ 40,473 $ - Resources (Inflows): Intergovernmental Use of money and property Amounts Available for Appropriation Charges to Appropriation (Outflow): Community improvement Transfers out Total Charges to Appropriations Budgetary Fund Balance, June 30 25,000 25,000 25,000 - 200 200 303 103 65,673 65,673 65,776 103 11,400 11,400 7,976 3,424 11,000 11,000 11,000 - 22,400 22,400 18,976 3,424 $ 43,273 $ 43,273 $ 46,800 $ 3,527 93 CITY OF SEAL BEACH BUDGETARY COMPARISON SCHEDULE PACIFIC GATEWAY YEAR ENDED JUNE 30, 2013 Budgetary Fund Balance, July 1 Resources (Inflows): Taxes Intergovernmental Use of money and property Amounts Available for Appropriation Charges to Appropriation (Outflow): Community improvement Transfers out Total Charges to Appropriations Budgetary Fund Balance, June 30 $ 209,397 $ 209,397 $ 211,444 $ 2,047 94 Variance with Final Budget Budget Amounts Actual Positive Original Final Amounts (Negative) $ 199,097 $ 199,097 $ 199,097 $ - 50,000 50,000 51,390 1,390 25,000 25,000 25,000 - 800 800 1,323 523 274,897 274,897 276,810 1,913 39,500 39,500 39,366 134 26,000 26,000 26,000 - 65,500 65,500 65,366 134 Budgetary Fund Balance, June 30 $ 209,397 $ 209,397 $ 211,444 $ 2,047 94 14111 WKi]�y*1111111:l*Ta BUDGETARY COMPARISON SCHEDULE CAPITAL PROJECTS AND EQUIPMENT YEAR ENDED JUNE 30, 2013 Budgetary Fund Balance, July 1 Resources (Inflows): Intergovernmental Transfers in Amounts Available for Appropriation Charges to Appropriation (Outflow): Capital outlay Total Charges to Appropriations Budgetary Fund Balance, June 30 Budget Amounts Original Final $ 87,375 $ 87,375 Actual Amounts $ 87,375 Variance with Final Budget Positive (Negative) - - 1,355,413 1,355,413 6,086,880 6,982,220 1,962,900 (5,019,320) 6,174,255 7,069,595 3,405,688 (3,663,907) 6,086,880 6,982,220 3,316,684 3,665,536 6,086,880 6,982,220 3,316,684 3,665,536 $ 87,375 $ 87,375 $ 89,004 $ 1,629 99 DJJZ!PG!TFBMCFBDI CVEHFUBSZ!DPNQBSJFPO!TDI FEVM DJJZ!EFCU!TFSVVDF ZFBS!FOEFE!KVOF!41 -!3124 V\bsjbodf N j gobrtCvehf u Cvehf UBn pvoLt BdLvbm Qptjywf Psjhjobm gobm Bn pvoLt )Of hbyvef Cvehf Lbs?!O✓oe!Cbrbodf- !Kvm!2 OA!!!!!!B63 -471 OA!!!!!!863 -471 °/d!!!!B63 -471 °/d!!!!!!!!!!!!!!!!!! Sf t pvsdf t !).bgpx t *; Vtf !pdn pof z!boe!gspgf su? !!!!!!!!!!!!!!!!1311 !!!!!!!!!!!!!!!1.311 !!!!!!!!!!!!!!!!gg !!!!!!!!!!!!!!r223* Usbot g st !jo !!!!!!!3- 267 - 132 !!!!!!3- 267 - 132 !!!!B -22: -744 !!!!!!!!!.�47 -499* Bn pvoLt !BvAbjnccrfi!gDs!Bggspgsjbypo !!!!!!Si -: 19- 692 !!!!!!3 -: 19 -692 !!!!B- 983 -192 !!!!!!!!!�47 -611* Di bshf t !Lp!Bggspqsjbypo!)Pvugpx *; Qvcrjd!tbg Lz B -611 !!!!!!!!!!!r3 -611* EfcUtfsWdf; !!!!!!Qsjodjgbrht ysf n f ou !!!!!!2- 713 -111 !!!!!!2- 713 -111 !!!!2- 713 -111 !!!!!!!!!!!!!!!!!!!!! !!!!!!.bLf sf t Uboe!dt dbridi bshf t !!!!!!!!!665 -132 !!!!!!!!1.665 -132 !!!!!!!665 -129 !!!!!!!!!!!!!!!!!!!!4 UpLbrtDi bshf t!Lp!Bggspgsjbypot !!!!!!C3- 267 -132 !!!!!!3- 267 -132 !!!!B- 269 -629 !!!!!!!!!!!�3 -5: 8* Cvehf Lbsz!C/oe!Cbrhodf -!Kvof !41 OA!!!!!!663 -671 OA!!!!!!863 -671 °/b!!!!B24 -674 °/d! HH! 49 -:: 8* CITY OF SEAL BEACH COMBINING BALANCE SHEET ALL AGENCY FUNDS JUNE 30, 2013 Restricted assets: Cash and investments with fiscal agents Total Assets Liabilities: Deposits payable Due to bondholders Total Liabilities - - 198,898 270,650 837,177 1,306,725 $ 358,903 $ 307,688 $ 259,953 $ 464,119 $ 963,869 $ 2,354,532 $ 358,903 $ 307,688 $ 18,177 $ - $ - $ 684,768 - - 241,776 464,119 963,869 1,669,764 $ 358,903 $ 307,688 $ 259,953 $ 464,119 $ 963,869 $ 2,354,532 97 Assessment Community Community Seal Beach District 94 -1 Facilities Facilities Deposits Cable and 2000 -1 District 2002 -01 District 2005 -01 Totals Assets: Pooled cash and investments $ 358,903 $ 288,957 $ 60,243 $ 183,153 $ 126,692 $ 1,017,948 Receivables: Accounts - 18,731 812 10,316 - 29,859 Restricted assets: Cash and investments with fiscal agents Total Assets Liabilities: Deposits payable Due to bondholders Total Liabilities - - 198,898 270,650 837,177 1,306,725 $ 358,903 $ 307,688 $ 259,953 $ 464,119 $ 963,869 $ 2,354,532 $ 358,903 $ 307,688 $ 18,177 $ - $ - $ 684,768 - - 241,776 464,119 963,869 1,669,764 $ 358,903 $ 307,688 $ 259,953 $ 464,119 $ 963,869 $ 2,354,532 97 D,UZ!PGITFBMCFBDI DPNC.JJ.JJH!TUBUFNFOU!PGxDI BOHFT!.JD!BTTFUT!BOE!MBCJAUFT BMu1BHFODZ!Gd/OET ZFBS!FOEFE!KVOF!41 -!3124 BttfLt; C .pprhe!dbt i !boe!joNf t rn f od Cbrbodf OA!!!!228 -573 °/d!!!!!!8: -995 Cbrbodf S f df jvhbc rht ; 8C2C8123 Beejypot Ef evdypot 701108124 Ef qpt Ilf !!!!!!!!!81 -436 !!!!!!!!!29 -842 !!!!!!!!!31 -436 !!!!!!!!29 -842 BttfLt; °/d!!!!882 -815 °/d!!!!247 -2: 4 OA!!!!211 -31: OW1418 -799 Opprhe!dbt i !boe!jovd t Ln f od °/d!!!!!!! 3 -6: 9 °/d!!!!CM88 -71: OA!!!!!!22 -415 OA!!!469 -: 14 UpLbrtBt t f d °/d!!!!!!! 3 -6: 9 OA!!!!!388 -71: OA!!!!!!22 -415 OA!!!469 -: 14 Mbcjgj ft; °/d!!!!882 -815 °/d!!!!247 -2:4 OA!!!!211 -31: OW1418 -799 Bddpvod ! gbzbcrh °/d!!!!!!!!2 -216 OA!!!!!!!21 -2:: OA!!!!!!22 -415 °/d!!!!!!!!!!!!!!!. Ef gptjd !qbzbcrh !!!!!!!!!! 2 -5: 4 !!!!!!!!423 -167 !!!!!!!!!55 -757 1111111169 -: 14 Up LbrIM bcj rA f t °/d!!!!!!! 3 -6: 9 OA!!!!!433 -366 OA!!!!!!66 -: 61 OA111469 -: 14 Tf brtCf bdi !Dbcfi °/d!1!!B64 -395 OA!!!!!3:2 -586 °/d!!!!395 -917 OA!!!86: -:64 BttfLt; C .pprhe!dbt i !boe!joNf t rn f od OA!!!!862 -48: OA!!!!228 -573 °/d!!!!!!8: -995 OA!!!899 -: 68 S f df jvhbc rht ; Bddpvod !!!!!!!!!81 -436 !!!!!!!!!29 -842 !!!!!!!!!31 -436 !!!!!!!!29 -842 UpLbrtBt t f d °/d!!!!882 -815 °/d!!!!247 -2: 4 OA!!!!211 -31: OW1418 -799 M bcj rNf t ; !!!!!!!2: 7- 992 !!!!!!!!!!!8 -128 !!!!!!!!!!!!!!!!!!!. !!!!!!2: 9 -9: 9 Ef gptjd ! gbzbcrh °/d!!!!882 -815 OA!!!!247 -2: 4 OA!!!!211 -31: OW1418 -799 Up LbrIM bcj rA f t °/d!!!!882 -815 °/d!!!!247 -2:4 OA!!!!211 -31: OW1418 -799 Bt t f t t n f oLlEit u�du: 5.2!boe!3111.2 BttfLt; Opprhe!dbt i !boe!jovd t rn f od OA!!!!!!66 -71: OW!!261 -959 OW!257 -325 OA!!!!!P1 -354 Sf dfj\Abcrht ; Bddpvod !!!!!!!!!!!!!!g:5 !!!!!!!!!!!!!!923 !!!!!!!!!!!!!!8:5 !!!!!!!!!!!!!923 Sf t add e!bt t f d ; Dbt i !boe!jo\nf t rn f od !xju !dt dbfthf od !!!!!!!2: 7- 992 !!!!!!!!!!!8 -128 !!!!!!!!!!!!!!!!!!!. !!!!!!2: 9 -9: 9 UpLbrtBt t f d °/d!!!!B64 -395 °/d!1!!264 -788 °/d!!!!258 -119 OA!!!86: -: 64 Mbcjgyf t ; Bddpvod!gbzbcrh OA!!!!!!!!!!!!!92 °/d!!!!245 -818 OA!!!!245 -879 °/d!!!!!!!!!!!!!!!. Ef gptjd ! gbzbcrh !!!!!!!!!21- 555 !!!!!!!257 -42: !!!!!!!249 -697 !!!!!!!!29 -288 Evf !rp!cpoei prof st !!!!!!!853 -88: !!!!!!!!!21 -55: !!!!!!!!!22 -563 !!!!!!852 -887 Up LbrIM bcj rA f t °/d!1!!B64 -395 OA!!!!!3:2 -586 °/d!!!!395 -917 OA!!!86: -:64 Dpn n volLz!adlrliif t !Elt Lsidd3113.12 BttfLt; Opprhe!dbt i !boe!jovd t rn f od OA!!!!291 -55: °/d!!M98 -323 °/d!!!!395 -619 OW!294 -264 Sf df j\Abcrht ; Bddpvod !!!!!!!!!!!2-623 !!!!!!!!!21 -427 !!!!!!!!!!!2 -623 !!!!!!!!21 -427 SftL4drfe!bttfrf; Dbt i !boe!jo\&f t rn f od !xju !dt dbrtlohf od !!!!!!!881 -735 !!!!!!!!!!!!!!!!!38 !!!!!!!!!!!!!!!!!!2 !!!!!!881 -761 UpLbrtBt t f d °/d!!!!563 -696 °/d!!M: 8 -666 °/d!!!!397 -132 OA!!!575 -22: M bcj rAf t ; Evf !rp!cpoei prof st °/d!!!!563 -696 °/d!!M: 8 -666 OA!!!!397 -132 OW!575 -22: UpLbrIMbcjrAft OA!!!!563 -696 °/d!!M:8 -666 OA!!!!397 -132 OA!!!575 -22: M. D,UZ!PGITFBMCFBDI DPNC.JJ.JJH!TUBUFNFOU!PGDI BOHFT!.JD!BTTFUT!BOE!MBCJAUFT BMu1BHFODZ!G /OET ZFBS!FOEFE!KVOF!41 -!3124 Dpn n volrz!(3bdlrlilf t !Elt LsidLt3116.12 Bttfd; Cipprhe!dbt i !boe!joNf t rn f od Sf t add e!bt t f d ; Dbt i !boe!jo\nf t rn f od N ju !dt dbfthf od UpLbrtBt t f d M bcj rNf t ; Evf !Lp!cpoei prof st Up r.brIM bcj rA f t Uplbrh!.!BrrtBhf odz!&oet Bttfd; Opprhe!dbt i !boe!joW t rn f od Sf dfj\Abcrht ; Bddpvod Sf t add e!bt t f d ; Dbt i !boe!jo\nf t rn f od N ju !dt dbfthf od UpLbrtBt t f d M bcj gyf t ; Bddpvod !gbzbcrh Ef gptjd !gbzbcrh Evf !Lp!cpoei prof st Upr.brIM bcj rAf t Cbrbodf Cbrbodf 8C2C8123 Beejypot Ef evdypot 701108124 OA!!!!228 -726 °/d!!!!668 -366 Offl!659 -289 OW!237 -7:3 !!!!!!!943 -81: !!!!!!!!!!!5 -581 !!!!!!!!!!!!!!!!!!3 !!!!!!948 -288 °/d!!!!! 61435 °/ HI.672 -836 OW!!659 -291 °/d!!!! 74 -97: °/d!!!!! 61435 °/ HI.672 -836 OW!!659 -291 °/d!!!! 74 -97: °/d!!!!! 61435 °/ HI.672 -836 OW!!659 -291 °/d!!!! 74 -97: OA!!!!7:8 -761 OA!24:1497 OAl2- 181 -199 OA2- 128 -:59 !!!!!!!!!83 -742 !!!!!!!!!B: -96: !!!!!!!!63 -742 !!!!!!!!B: -96: !!!!2411 -325 ON 8- 131 -5: 6 OA!!!!!!!!2 -277 !!!!!!!484 -752 !!!!2- 756 -799 OW 8- 131 -5: 6 .. !!!!!!!!!!!7 -625 OA!!2- 537 -86: OA!!!!255 -: 17 5 -679 !!!!!!!B7: -83: OA! r2 -71: -314 OA!2 -1: 3 -833 OA!!!!257 -183 !!!!!!!394 -552 !!!!!!!956 -764 OA!2- 386 -277 !!!2417-836 OAB465 -643 OA!!!!!!!!!!!!!!!. !!!!!!795 -879 !!!2-77: -875 OAB465 -643 UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! 100 CITY OF SEAL BEACH Comprehensive Annual Financial Report Year Ended June 30, 2013 STATISTICAL SECTION This part of the City of Seal Beach comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the government's overall financial health. TABLE OF CONTENTS PAGE Financial Trends These schedules contain trend information to help the reader understand how the government's financial performance and well -being have changed overtime. 102 Revenue Capacity These schedules contain trend information to help the reader assess the government's most significant current local revenue source, the property tax. 112 Debt Capacity These schedules contain present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future. 118 Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place. 125 Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs. 128 101 CITY OF SEAL BEACH Net Position by Component Last Eight Fiscal Years (accrual basis of accounting) Business -type activities: Net investment in capital assets, $10,210,695 Fiscal Year $ 24,136,274 $ 27,007,845 Restricted 2006 2007 2008 2009 Governmental activities: 10,268,364 12,471,364 12,314,589 Total business -type activities net position $19,918,232 Net investment in capital assets, $ 33,739,073 $ 58,919,775 $ 62,319,804 $ 64,630,230 Restricted 9,936,453 8,845,953 4,725,123 5,004,891 Unrestricted 15,966,882 19,200,089 30,271,762 32,204,164 Total governmental activities net position $ 59,642,408 $ 86,965,817 $ 97,316,689 $101,839,285 Business -type activities: Net investment in capital assets, $10,210,695 $ 22,586,551 $ 24,136,274 $ 27,007,845 Restricted 363,315 380,669 - 396,321 Unrestricted 9,344,222 10,268,364 12,471,364 12,314,589 Total business -type activities net position $19,918,232 $ 33,235,584 $ 36,607,638 $ 39,718,755 Primary government: Net investment in capital assets, $ 43,949,768 $ 81,886,995 $ 86,456,078 $ 91,638,075 Restricted 10,299,768 5,468,213 4,725,123 5,401,212 Unrestricted 25,311,104 32,846,193 42,743,126 44,518,753 Total primary government net position $ 79,560,640 $120,201,401 $133,924,327 $141,558,040 The City of Seal Beach implemented GASB 34 for the fiscal year ended June 30, 2003. The City has elected to show only eight years of data for this schedule. Source: Finance Department, City of Seal Beach. 102 2010 $ 64,607,970 6,190, 852 30,050,739 2011 $ 68,117,517 5,179,337 27,557,417 2012 $ 70,801,667 2,662,285 29,666,427 2013 $ 72,698,895 3,561,870 24,275,485 $100,849,561 $100,854,271 $103,130,379 $100,536,250 $ 27,416,082 $ 29,552,934 $ 32,020,831 $ 32,645,747 294,407 - - - 14,376,270 13,633,764 11,318,443 12,593,950 $ 42,086,759 $ 43,186,698 $ 43,339,274 $ 45,239,697 $ 92,024,052 $ 97,670,451 $102,822,498 $105,344,642 6,485,259 5,179,337 2,662,285 3,561,870 44,427,009 41,191,181 40,984,870 36,869,435 $142,936,320 $144,040,969 $146,469,653 $145,775,947 103 DJJZ!PGTFBMCFBDI Di bohft!jo!OfdOptjypo Mgt to Fj hi toq t dbr fZ f bst )bdds✓brtcbtjt !pdbddpvoyoh* 104 q t dbr fZ f bs 3117 3118 3119 311: Fyqf off t; Hpu\f son f orbrtbdyvyyf t; H f of sbftp\Af son f ou %!5-5: 9 -315 °/b115- 363 -914 %!! f7 -1:: -427 %!! M24-449 Q✓ crj-d! t bgf a ! ! ! ! ! -: 99-879 !!!23-266-3: 6 !!!24-588-: 77 ! ! ! 24 -2: 2-818 Dpn n voju'!efvdrpgn fou !!!!2- 922 -492 !!!!!2 -: 99 -979 111!!B -38: -654 111!!2 -: 8: -99: Cbd t !boe!Sf dsf hypo 11111119: 8 -: 78 111111 11999 -118 111112 - 144 -473 11111111! 89 -615 Q✓crj-d!x psl t !!!!8- 779 -98: !!!!!4 -: 3: -45: !!!!!.4 -99: -: 13 !!!!!5 -418 -581 .brf sf t dpo!rpoh. Lf sn !ef cu 1111111647- 979 1111111154: - 328 11111111636 -: 85 111112 -194 -174 Uprb ffip\Af son f otbrtbdyvy yf t !f yqf of f t ! ! 81- 513 -178 ! ! ! 135- 764 -64: ! ! ! 88 -417 -174 ! ! ! 139 -364 -: 82 Cvtj of tt . aqf !bdyvyyf t; X brf s!vy* !!!!4- 386 - 555 !!!!!4- 755 -672 !!!!!4 -881 -377 !!!!!!4 -926 -8: 9 Tfxfdvyrjm !!!!!!!953 -699 !!!!!2 -1:6 -938 !!!!!2- 161 -822 !!!!!2-442 -721 Upr. biuvtjoftt .u'gf!bdyvyyft!f yqf otft !!!!5- 229 -143 !!!!!5 -851 -499 111115- 931 - :88 !!!!!6 -258 -519 Updxfgjnbs!hpvd son fodf yqf otft 1185 -631 -1:: !!!B: -4:4 -:38 !!!43- 238 -151 !!!44- 512 -48: C�phsbn ! sf vd ovf t; H p\Af sin f oLbribdyvyyf t; Di bshft!gDs!tf94dit; Hfofsbftpvd son fou !!!!4 -171 -397 !!!!!13- 538 -414 !!!!!M26 -9:1 !!!!!M17 -181 Q✓crj-d!tbgf u' !!!!2-618 -483 !!!!!2 -572 -221 !!!!!2- 376 -8:2 !!!!!2- 535 -::7 Dpn n voj u'! E f vd rpgn f ou 11112- 113 -462 11111111994 -: 39 !!!!!!!!!!B2-195 1111111111 ! 6 -935 Cbd t !boe!Sf dsf hypo 11111115: 7 -984 1111111167: - 768 11111111575 -615 11111111!72: -445 Q✓crj-d!x psi t !!!!2 -587 -: 78 !!!!!2 -4: 7 -9: 6 !!!!!13-26: -395 !!!!!2 -: 1: -122 Pgfsbyoh !!dpoujcvypot!boe!hsboLt !!!!2- 198 -34: !!!!!2 -132 -337 !!!!!2 -595 -398 !!!!!2- 715 -:15 DNLblbsbod!boe!dpau cvypot !!!!8 -417-8: 2 !!!!!2 -86: -535 !!!!!!!!1753 -544 !!!!!!!!B35 -375 Uptbrthp\Af son f orbribdyvyyf t !!gsphsbn !sf\Af ovf t !!21 -: 48 -98: !!!!!t -62: -654 Ml 4-384 !!!!!9 -495 -514 Cvtj of t t. u'qf !bdyvy yf t; Di bshft!g:)s!tfsydit; X bLf s!vyrju !!!!6 -551 -327 !!!!!M65-717 !!!!!5 94 -236 !!!!!5- 929 -246 Tf x f dvyrjm !!!!2-645 -551 !!!!!2 -983 -: 17 !!!!!2 -: 12 -: 61 !!!!!B -186 -542 Pqf sbyoh!hsboLt!boe!dpot�cvypot Uptbrtcvtj of t t . mqf ! bdyvy yf t !!gsphsbn !sfvd ovf t !!!!7 -: 85 -767 !!!!!B- 738 -623 !!!!!B- 796 -186 !!!!!B -9: 4-677 Updxfgj n bs-! hp\Af son f oL !!gsphsbn !sfvd ovf t !!28 -: 23 -646 !!!28- 258 -166 !!!27 -499 -459 !!!27 -388 -: 7: Of dsf vd ovf t !)f yqf otf t *; Hpu\fson forbrtbdyvyyft !!!): - 575 -299* !!)26 -244 -:: 7* !!)29- 713-8: 1* !!)2: -97: -679* Cvtj oftt.u'gf!bdyvyyft !!!!B- 967 -735 !!!!!B- 998 -235 !!!!!B -975 -1:9 !!!!!8 -857 -269 Uprbftf Usf \Af ovf t !)f yqf off t* -A)7- 718 -675* -423- 357 -983* 1426 -849 -7: 3* 1428- 234 -521 104 3121 3122 3123 3124 %!!r7-573-293 %!!9-246-311 %!!17-588-8: 6 %!!6-484-291 !!!25 -433 -137 !!!24 -5: 4 -524 !!!25- 263 -885 !!!126 -116-6: 1 11111.4-443-43: !!!!!2- 765 -11: !!!!!2 -483-445 !!!!!2-892-299 111112-21: -414 !!!!!2- 151 -834 !!!!!!!!1 51 -865 !!!!!2- 383 -791 !!!!!B -856 -928 !!!!!!7 -415 -454 !!!!!!7 -688- 344 !!!!!!7- 323 -627 11144-972-489 !!!!42- 751 -315 !!!!41 -324 -: 66 !!!!41 -32: -: 28 !!!!!5- 174 -5: 8 !!!!!15- 116 -858 !!!!!5-276-686 !!!!!5- 378 -951 III11 X27 -356 !!!!!6 -529 -184 !!!!!"78 -935 !!!!!"99 -429 !!!!!B 2: 1 -497 !!!!!2 -881 -135 !!!!!2 -573 -951 !!!!!!!!561 -: 22 111112 -836 -62: !!!!!2 -626 -838 !!!!!2-778-295 !!!!!2 -676 -638 !!!!!!!!!!13274 !!!!!!!!!!13 -242 !!!!!!!!241 -229 !!!!!!!!222 -119 1!!!!!!!648 -581 !!!!!!!!926 -88: !!!!!!!!141 -612 !!!!!!!!192 -551 111112 -928 -8: 5 !!!!!2-849 -: 76 !!!!!2 -97: -686 !!!!!2 -: 91 -227 !!!!!2 -::: -371 !!!!!2 -886 -936 !!!!!B -9: 1 -667 !!!!!E- 948 -1: 4 111116- 766 - 544 !!!!!5 2: 1 -935 !!!!!15-487-:17 !!!!!5 -: 35-21: !1!11B- 295 - 398 !!!!!B- 323 -66: !!!!!B- 553 -719 !!!!!B- 786 -312 -------------- - - - - -- -------------- - - - - -- ------------- - - - - -- ------------ - - - - -- !!!!!B -94: -831 !!!!!!7- 514 -494 !!!!!!7 -92: -625 !!!!!B -6:: -421 !!)35- 987 -252* !!)34-:18-897* !!)29- 329 -887* !!)2: -3: 4 -933* !!!!1B -434 -586 !!!!!!!!196 -421 !!!!!2- 362 -7:1 !!!!!2 -921 -::3 1433 -663 -777* 1433 -:33 -587* 1427 -:78 -197* °/)28- 593 -941 105 DJJZ!PGTFBMCFBDI Di bohft!jo!OfdOptjypo Mgt IJ Fj hi to q t dbrtZ f bst )bddsvbrtacbtjt !pdbddpvoyoh* I I Hf of doiV\Af ovf t!boe!pd f s!di bohft!jo!ofdgptjrjpo; Hpu\f son f orbrttcdyvyyf t ; Ubyft; (Dapgf sz!tbyf t Usbotjf odpddvgbodz!Ibyf t Tbrfit ! Lby Csbodi j t f ! Lbyf t Vq*!vtf st! tbyft Pd fs!Lbyft N pLps!vAf i j drfi!j o! rj f v -!vosf t u� dLf e V t f !pdn pof z!boe!gspgf sa PdfS! N/Pt t !po!ej t qpt brtp j bt t f u Usbot gf st Fyubpsej obs! H b o) rpt t *! po!ej t t prvly po!po!S E B Uplbthpu`f son f orbrtbdyvy yf t Cvtj of t t . Lzgf !bdyvy 4 t ; V t f !pdn pofz!boe!gspgf stz Puff Usbot gf st Fy ubpsej obs! H b o) rpt t *! po!ej t t prrny po!po!S E B Uptbriuvtj of t t . u'qf ! bdr jvy 4 t Upd t+ql n bs! hpW son f ou Di bohf t !j o!of dgptj qpo; Hpu\f son f orbliWgvjyf t CA of t t . u'qf !bdyvy 4 t Upd tql n bs!hp\Af sin f ou q t dbrtZ f bs 8117 8118 811c) 811• %!8-998-297 %21 -43: -483 %21 -415 -958 %22- 165 -562 !!!!!!!77: -33: !!!!!!!!9: 5 -895 !!!!!2 -176 -:: 7 !!!!!2 -2: 9 -487 !!!!4- 729 -567 !!!!!!4 -857 -912 !!!!!6 -238 -:7: !!!!!!4- :85 -452 !!!!!!!883 -459 !!!!!!!!t 52 -813 !!!!!2 -164 -: 18 !!!!!!!!t 91 -259 !!!!5 -85: -149 !!!!!6- 242 -375 !!!!!6 -6:: -176 !!!!!6 -437 -597 !!!!!!!553 -811 !!!!!!!!67: -523 !!!!!!!!466 -27: !!!!!!!!4: 4-681 !!!!!!!266 -957 !!!!!!!!267 -714 !!!!!!!!226 -185 !!!!!!!!!!99 -415 !!!!2- 126 -879 !!!!!2 -89: -162 !!!!!2 -687 -444 !!!!!!!!9: 3 -452 !!!!!!!!!41 -:49 !!!!!!!!289 -693 111111!!552 -551 111111!!!!54 -992 !!!!2-848-96: 11111111111111111111. 11111111111111111111. 11111111111111111111. 1111111498 -625 11111111111111111111. 11111111111111111111. 11111111111111111111. aC30ZIIAFA NYf:1i:1:30�Usil- YLwe]I�c1:WOOZ:we 1111111872 -712 11111111644 -958 11111111618 -564 111111111389 -865 11111111111111411 !!!!!!!!!!!!!!!P11 111111111111111614 111111111111111811 !!!!!!!872 -: 12 1182 -839 -894 I I I I I I I I R45 -558 11 I B5- 383 -129 I I I I I I I I R18 -- 67 I I 1137-25M67 I I I I I I I I [i8' -RAF; I I I B5 -342 -563 !!23- 113 -7:5 !!!!!9- 714 -686 !!!!!B -148 -121 !!!!!5- 193 -441 !!!!4- 229 -636 !!!!!4- 532 -682 !!!!!14 -483 -165 !!!!!4- 136 -823 1/26- 232 -32: %23- 136 -257 %21 -51: -175 %!!B- 219 -153 U f !Djry-!pdTf brtCFbdi !jn grfin f oaf e!HBTC!45!g)s!u f !gtdbrtzf bs!f oef e!Kvof !41- !3114/!! U f !DjLy-!i bt !f rfidd e!Lp!ti px !pore!fj hi IJzf bst!pdebtb!g)s!u jt !t di f evrfY TpvscF ;!q obodF ! E f gbsLn f ou! Dj ry-!pdTf brtCf bdi / 106 1171 8177 11911 g17d %21 -849-641 %21 -8: 5 -486 %21-448 -597 °/3! ! f -: 69-2: 9 111112-219-896 !!!!!2- 332 -5: 2 !!!!!!!!t 81- 386 !!!!!2 -39: -118 111115- 791 -957 !!!!!5- 271 -46: !!!!!b -:41 -148 !!!!!6- 519 -867 !!!!!!!!f 52 -896 !!!!!2 -141 -847 !!!!!2- 119 - 142 !!!!!2-237-4: 9 1111113-167 -344 !!!!!E -421 -777 !!!!!6 -595 -367 !!!!!5-843 -6:8 !!11!111262 -835 !!!!!!!!B39 -55: !!!!!!!!449 -287 !!!!!!!!439 -854 11111111IIB7- 345 !!!!!!!!22: -133 !!!!!!!!!!23 -979 !!!!!!!!!!24444 1111111IB63 -882 !!!!!!!!B46 -193 !!!!!!!!B25 -453 !!!!!!!!483 -7:4 1111111142:-245 !!!!!!!!423 -427 !!!!!!!![941 -:: 8 !!!!!!!!442 -286 !!!!!!!!!!91 -486 !!!!!!!!!!!!!!!!!!!!. IIIIIIIIIIIIIIIIIIII. IIIIIIIIIIIIIIIIIIII. 111114$42$95* IIIIIIIIIIIIIIIIII. !!!134- 997 -528 !!!B4-: 23 -5:7 !!!B1 -5:5 -995 !!!84 -671 -:11 !!!!!!!!!!f 3-36: !!!!!!!!21: -271 !!!!!!!!!!f 7-885 !!!!!!!!!!95 -482 111111111123 -756 !!!!!!!!!!!!6 -57: !!!!!!!!!!!!5-223 !!!!!!!!!!!!6 -171 !!1!!!!!!)71 -486* !!!!!!!!!!!!!!!!!!!!. 11111111111111111111. !!!!12- 311 -111* !1111!!!1155 -63: !!!!!!!!225 -73: !!!!12 -1:: 225* !!!!!!!!!!9: -542 111 R4-• 41= 57 111 R5 -1 RR 9.118 I I I D• -4• R-RR1 I I I R4 -7F 1 AAA !!!1111): 9: -835* !!!!!!!!!!!!5 -821 !!!!!13- 387 - 219 !!!!!5 -378 -189 1 1 1 1 1 R -47A -115 I I I I I D -1 ••= 4• 11111111 PR.R -RR7 I I I I I P- 11 -S.:)4 %!!12-489-391 %!!12-215-75: %!!B-539-795 °/3! ! !7 278 12 107 General fund: Reserved Unreserved Total general fund All other governmental funds: Reserved Unreserved, reported in: Low and moderate housing Special revenue funds Debt service funds Capital project funds Total all other governmental funds General Fund: Nonspendable Restricted Assigned Unassigned Total general fund All Other government funds: Nonspendable Restricted Assigned Unassigned Total all Other government funds: CITY OF SEAL BEACH Fund Balances of Governmental Funds Last Eight Fiscal Years (modified accrual basis of accounting) Fiscal Year 2006 2007 2008 2009 $ 772,053 $ 677,599 $ 182,500 $ 211,000 22,185,704 24,854,264 33,262,310 36,254,127 $22,957,757 $25,531,863 $33,444,810 $36,465,127 $ 2,026,130 $ 1,738,667 $ 2,126,571 $ 1,888,229 - 1,832,513 1,538,662 1,699,688 2,060,453 1,930,642 2,087,018 2,397,828 1,401,913 1,456,799 1,363,543 2,108,727 5,212,313 3,505,313 2,569,235 4,202,108 $10,700,809 $10,463,934 $ 9,685,029 $12,296,580 The City of Seal Beach has elected to show only eight years of data for this schedule. Source: Finance Department, City of Seal Beach 108 2010 2011 $ 30,300 29,988,551 $30,018,851 $ 1,880,130 1,268,309 2,264,014 1,922,685 4,126,432 $11,461,570 2012 2013 $ 100 $ - $ - 9,371,679 9,106,458 8,301,699 16,952,806 19,263,118 21,149,350 $26,324,585 $28,369,576 $29,451,049 $ 1,957,603 $ - $ - 5,179,337 2,662,285 3,561,870 2,825,953 87,375 89,004 (134,079) (470,485) (347,009) $ 9,828,814 $ 2,279,175 $ 3,303,865 109 DJUZ!PGTFBMCFBDI Di bohf t !j o!O✓oe!Cbrbodf t !pd H pwf son f oLbi&oet MgtdFjhi dgtdbrtZfbst )n pejdfe !bddsvbftbtjt!pdbddpvoyoh* if f!Dju?!pdTfbrlVbdi !i bt!frfidLfe!rp!ti px!porn!fjhi dzfbst!pdebrb!g ) s!djt!tdi fevrfy OPUF;!Po!Efdfn cfs!3: - !3122 -!d f!DbgWsojb!Tvgsfn f!Dpvslvgi fre!Bttfn crn!grrt2Y37!d bdgspv eft!gDs!d f!ejttprmypo!pdbrTh sfofdrpgn fodbhfodjft!jo!d f!TrbLf!pdDbgWsojb/!Ui f!Sfofdrpgn fodBhfodz !xbt!ejttprvofe!po!Gcsvbsz!2- !3123/ Tpvsdf;!gobodf!Efgbsn foL+!Dju?!pdTfbrtOfbdi ! 110 Cj t dbrtZ f bs 3117 3118 3119 311: Sf d ovf t; Ubyf t 1/2: - 284 -753 °/a33- 748 -139 0/85- 162 -174 %34 -4:: -314 Mdfotft!boe!gfsnjLt !!!3 -433 -183 !!!2 -877 -:18 !!!!2- :14 -427 !!!2 -638 -135 JoLfshpdson fob !!!3 -687 -335 !!!3 -678 -526 !!!!2- 528-849 !!!2 -683 -786 Di bshft!gDs!tfMdit !!!4 -: 74 -5: 6 !!!4- 912 -943 !!!!4- 932 -463 !!!5- 294 -129 Vtf!pdn pofz!boe!gspgfsu? !!!2- 118 -625 !!!2 -88: -481 !!!!2 -6: 5 -: 11 !!!!!!9: 4 -98: Cjoft!boe!gDsgf j Lvsf t !!!2- 329 - 372 !!!2- 224 -924 !!!!2- 116241 !!!!!!:55 -:61 Dpau cvypot!Wn !pd fs!hpwfson fort N j t df rrbof pvt !!!!!!217 -716 !!!!!!259 -962 !!!!!!!475 -857 !!!!!!!!87 -621 UpLbrtsf d ovf t !!41 -478 -924 !!44- 926 -327 !!45- 269 -356 !!43 -6:8 -36: Fyqf oej Lvsf t Dvssf oy Hfofsbftpv&fson fOL !!!5 -46: -895 !!!6- 145 -137 !!!!B -: 79 -371 !!!6- 722 -215 O✓cfj- t!tbgfu? !22- 182 -:46 !23- 175 -3:9 !!B5- 378 -685 !23- 596 -8:7 Dpn n voju?!efdrpgn fot !!!2 -: 14- 773 !!!2 -: 91 -9: 9 !!!!8 -383 -573 !!!2 -: 5: -536 Cbsl t!boe!sfdsfbypo !!!!!!936 -676 !!!!!!921 -: 27 !!!!!!!! 69- 868 !!!!!!: 19 -819 O✓crj -d!x psl t !!!3- 237 -1: 6 !!!3 -426 -4:: !!!!8- 325 -113 !!!4 -668 -815 Dbgj Lbrttpvutaz !!!8-: 89 -554 !!!9-2: 9 -892 !!!!6-2: 3 -139 ! ! ! 5 -836 -459 EfcdtfMdf; godjgbrtsfysfn for !!!2 -: 54 -297 !!!!!!733 -: 76 !!!!!!!681 -147 !!!2 -529 -341 JoLfsftUboe!dtdbrtdi bshft !!!!!!699 -161 !!!!!!561 -813 !!!!!!!532 -639 !!!2 -159 -137 Cpoe!j t t vbodf !dpt Lt !!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!! !!!!!!!!!! 2 -621 !!!!!!!!!!!2 -427 Uprbrtfygf oej Lvsf t !!41 -8:7 31 !!42- 588 -:96 !!B2 -:67 -268 !!42 -816 -768 Fydf t t !)ef d dj f odz *!pg !!sf dovf t !pwf s!)voef s* !!fygf oej Lvsf t !!!!!!)539 -:18* !!!!13 -448 -342 !!!)8 -8:8 -:23* !!!!!!!9:2 -713 Pd fs!dobodjoh!tpvsdit!)vtft *; Usbotgf st!jo !!!: -: 81 -281 !21- 595 -536 !!!!8 -13: -316 !22- 291 -611 Usbot gf st ! pvu ! ): -693 -767* )21- 595 -536* !!!)8 -13: -316* )24- 291 -611* Efcdjttvbodf !!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!! !!l7 -411 -111 Cspdffet!po!tbrh!pdbttfLt !!!4- 791 -111 Cspdffet!pdEfcu !!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!. !!121 -:56 -111 DbgjLbrtfttft!jttvfe !!!!!!!!69 -115 !!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!! Uprbrtpd f s!d obodj oh !!tpvsdit!)vtft* !!!!5- 236 -629 !!!!!!!!!!!!!!!!!!!! !!t21 -:56 -111 !!!!B -411 -111 Fyubpsejobsz!ht oprpttIpo!ejttprmypo pdsfefdrpgn fodbhfodz !!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!! Of Udi bohf !jo!g✓oe!cbrbodf t %!4 -7: 7 -722 %!13 -448 -342 %!4- 258 -199 %!6-2: 2 -713 E f cdt f M df !bt !b!qf sdf orbhf !pg !!opodbqj Lbr f yqf oej Lvsf t 22/9& 5/9& 3/: & : /3& if f!Dju?!pdTfbrlVbdi !i bt!frfidLfe!rp!ti px!porn!fjhi dzfbst!pdebrb!g ) s!djt!tdi fevrfy OPUF;!Po!Efdfn cfs!3: - !3122 -!d f!DbgWsojb!Tvgsfn f!Dpvslvgi fre!Bttfn crn!grrt2Y37!d bdgspv eft!gDs!d f!ejttprmypo!pdbrTh sfofdrpgn fodbhfodjft!jo!d f!TrbLf!pdDbgWsojb/!Ui f!Sfofdrpgn fodBhfodz !xbt!ejttprvofe!po!Gcsvbsz!2- !3123/ Tpvsdf;!gobodf!Efgbsn foL+!Dju?!pdTfbrtOfbdi ! 110 3121 3122 3123 3124 1/83-79:-771 °/B4 -735 -: 36 0/85-276-994 %34- 942 -542 !!!!2-697 -448 !!!!2 -28: -86: !!!!!!!! 37 -872 !!!2- 358-861 !!!!2- 755 -622 !!!!!!!! 5: -3: 5 !!!!6 -169 -286 !!!4- 113 -432 !!!!5- 261 -34: !!!!4 -87: -276 !!!!5- 155 -677 !!!5- 228 -145 !!!!!!! 937 -12: !!!!!!!B46 -193 !!!!!!!825 -453 !!!!!!483 -7:4 !!!!2 -13: -621 !!!!!!!! 94 -813 !!!!2- 196-3: 2 !!!2-174-283 !!!!!!!! 14 -397 !!!!2- 138-854 !!!!!!!B: 1 -692 !!!!!!673-295 !!!!!!!448 -:97 !!!!!!!423 -427 !!!!!!!845 -6:8 !!!!!!412 -882 !!43- 175 -373 !!42 -665 -354 !!47 -33: -726 !!44 -: 57 -492 !!N- 391 -371 !!!!B -322 -981 !!!!6 -27: -8:: !!!6 -173 -578 !!24 -488 -356 !!24 -3:8 -168 !!24 -:59 -774 !25- 571 -944 !!!!4 -457 -: 72 !!!!2 -75: -: 32 !!!!2 -464- 179 !!!2 -531 -176 !!!!2- 147 -487 !!!!!!!! 76- 333 !!!!!!!991 -: 94 !!!2- 293 -827 !!!!B- 928 -48: !!!!5-16:-112 !!!!5- 158 -124 !!!5- 267 -727 !!!!! - 549 -426 !!!!9- 733 -7: 3 !!!!6-641 -686 !!!4 -427 -795 !!!!2 -:53 -587 !!!!B- 177 -484 !!!!B -2:6 -125 !!!2-845 -557 !!!!!!!! 14 -397 !!!!2- 138-854 !!!!!!!B: 1 -692 !!!!!!673-295 !!4:-253-3: 9 !!47-9::-98: !!44 -: 26 -7: 7 !!42 -9: 7 -122 !!!)8- 189 -147* !!!)6 -456 -747* !!23 -688 -65: !!!!! -481 -444 !)23 -891 -8:: * !!!): -481444* !!!!!!!!!!!!!!!!!!!! !!!!!!!!!29 -725 !!!!!!)314- 361* !!!!!!!!!29 -725 !!!!B -424 -:2: !!!!B- 161 -481 !!!!9 -31: -136 !!!)9 -31: -136* !!!6- 936 -543 )7-246-543" .................. !!!!!!!!!!!!!!!!!!!! !!!!!!)421 -111* !!!)8- 929 -678* OA)8 -392 -397* OA)6 -438 -133* OA)6 -615 -759* %!2 -851 -481 :/7& 21/3& 21/6& 9/1 & 111 DJUZ!PGTFBMCFBDI Bttfttf e!V\brmf !boe!Ftyn brf e!BdLvbffVV mf !pdUbybcrfiKDapgf sLz Mgt d Uf o!q t dbrtZ f bst U f!Djry-!pdTfbriabdi !i bt!f rfidd e!Lp!ti px! pore !Lfo!zfbst!pdebrb!gDs!djt!tdi fevrfi/ 2!Cf hj ooj oh!x j u !d f !dtdbrtzf bs!f oef e!Kvof !41- !3114 -!f yf n gypot !bsf !of of e ejsf due!bht otdd f !joejvyevbrtgspgf sz!dbrf hpdf t/ OP OF ; .b!2: 89!d f !v\pLf st!pdd f !Tdxf !pdDbrjWscj b!gbttf e!(Dspgptj 4po!24!x i jdi !# jLf e! qspqf srz!rbyf t!Lp!b!Lpdbrtn byj n vn !sbrf !pd2& !cbtf e!vgpo!d f !bttf t t f e!vbrvf !pdd f qspqf srz!cfj oh! dyf e /!Fbdi !zf bs-!d f !bttf t t f e!vbrmf !pdgspgf sz!n bz!cf !jodsf btf e!cz!bo Iogtxjpo!dodLps�.)# j Lf e!Lp!Un byj n vn !jodsf btf !pd3& * /!X j d !gf x !f ydf gy pot -! qspqf srz!j t !pore!sf . bt t f t t f e!bdd f ! y n f !j dj t !t pre! rp!b!of x ! px of s/! B old bdgpj ou! d f of x !bttf t t f e!vbnaf !jt !sf bttf t t f e!bdd f !gvsdi btf !gddf !pdd f !qspqf sLz!tpre/!Ui f bttf ttf e!\Abmbgpo!ebrb!t i px o!bcp\Af !sf qsf tf opt !d f !pore!ebLb!dvssf oue!bt4 rbcrfi!x j d sf tqf ddLp!d f !bdwbrtn bd f dvbrmf !pd dybcrfi!gspgf srz!boe!jt !tvcKdd#p f !rj-n j dxjpot of t dd cf e! bcpv&f / Tpvsc f;!! DpvoLz!pd P sbohf -! B vej rps! .! DpoLEprrfd B t t f t t f e!V\brvby pot ! E f A m 112 Dj Lz q t dbrtZ f bs Uby bcrfi Foefe Bttfttfe! Kvof !41 Tf dvsf e V of f dvsf e VvDmf 3115 °/b!!!3 -72: -: 73 -769 °/b11252 -8: 3 -459 P IIRA7i ri§WJi17 .......................... 3116 ! ! ! ! ! B-8: 4 -593 -567 ! ! ! ! ! 28 6 - 4 8 2 - 2 8 2 1 1 1 1 1 bra i71�t n7j38 .......................... 3117 11!11!4- 129 -97: -945 !!!!!282- 111 -622 IIIIIi arp,�lr06 .......................... 3118 !!!!!4-484 -861 -422 !!!!!1322 -662 -164 IIIIIWOP"I"75 ......................... 3119 !!!!!14 -7:2- 287 -877 111!!295 -836 -634 IIIII n 6naiir .......................... 311: ! ! ! ! ! 15- 142 -57: -178 ! ! ! ! ! 1.336 -526 -267 ! ! ! ! ! 15- 367 - 995 -334 3121 !!!!!15-178 -824 -586 !!!!!x284 -618 -9:5 !!!!!15- 352 - 332 -47: 3122 !!!!! 5- 225 - 16484 !!!!! 278 -: 89 -379 !!!!! 15- 393 -142 -952 3123 !!!!! 5 -32: - 244 -483 111111.326- 322 -365 !!!!! 5- 545 -455 -737 3124 !!!!!5-415 -421 -354 !!!!!287 - 357 -4:9 !!!!!5 -591 -667 -752 U f!Djry-!pdTfbriabdi !i bt!f rfidd e!Lp!ti px! pore !Lfo!zfbst!pdebrb!gDs!djt!tdi fevrfi/ 2!Cf hj ooj oh!x j u !d f !dtdbrtzf bs!f oef e!Kvof !41- !3114 -!f yf n gypot !bsf !of of e ejsf due!bht otdd f !joejvyevbrtgspgf sz!dbrf hpdf t/ OP OF ; .b!2: 89!d f !v\pLf st!pdd f !Tdxf !pdDbrjWscj b!gbttf e!(Dspgptj 4po!24!x i jdi !# jLf e! qspqf srz!rbyf t!Lp!b!Lpdbrtn byj n vn !sbrf !pd2& !cbtf e!vgpo!d f !bttf t t f e!vbrvf !pdd f qspqf srz!cfj oh! dyf e /!Fbdi !zf bs-!d f !bttf t t f e!vbrmf !pdgspgf sz!n bz!cf !jodsf btf e!cz!bo Iogtxjpo!dodLps�.)# j Lf e!Lp!Un byj n vn !jodsf btf !pd3& * /!X j d !gf x !f ydf gy pot -! qspqf srz!j t !pore!sf . bt t f t t f e!bdd f ! y n f !j dj t !t pre! rp!b!of x ! px of s/! B old bdgpj ou! d f of x !bttf t t f e!vbnaf !jt !sf bttf t t f e!bdd f !gvsdi btf !gddf !pdd f !qspqf sLz!tpre/!Ui f bttf ttf e!\Abmbgpo!ebrb!t i px o!bcp\Af !sf qsf tf opt !d f !pore!ebLb!dvssf oue!bt4 rbcrfi!x j d sf tqf ddLp!d f !bdwbrtn bd f dvbrmf !pd dybcrfi!gspgf srz!boe!jt !tvcKdd#p f !rj-n j dxjpot of t dd cf e! bcpv&f / Tpvsc f;!! DpvoLz!pd P sbohf -! B vej rps! .! DpoLEprrfd B t t f t t f e!V\brvby pot ! E f A m 112 Sf of W rpgn f oil B hf odz Uby bcrfi Bttfttfe! Tf dvsf e V of f dvsf e VVmf °/b!!!!! 1366 -4: 3 -922 !!!!!!!! l388- 375 -621 !!!!!!!!!3: 2 -68: -72: !!!!!!!!!4: 2 -: 64 -:: 4 !!!!!!!!526 -71: -989 !! !!!!! ! 1538- 299 -9: 9 !! !!!!! ! 1545- 717 -946 !!!!!!!!519 -45: -678 !!!!!!!!!521 -5:: -956 !!!!!!!!535- 771 -119 °/b!!!4- 585 -355 !!!!! 4- 767 -879 !!!!! B -831 -386 !!!!48 -237 -: 85 !!!!!B- 121 -9: 3 !!!!! B-647 -718 !!!!!t -813 -668 !!! 21 -441 -398 !!!!!!7-924-241 !!!!!B -3: 5 -114 °x!!!!!!369- 978 -166 !!!!!!!!!391 -: 32 -389 !!!!!!!!!3: 5-3::-9: 5 !!!!!!!!!53: -191 -: 78 !!!!!!!!533 - 731 -881 !!!!!!!!543 -836 -616 !!!!!!!!!555 -41: -4: 3 !!!!!!!!!529 -78: -965 !!!!!!!!!528 -423 -: 86 !!!!!!!!!542-: 65 -122 113 UpLbrn Ej sf del Uby S bLf 2/11& 2/11& 2/11& 2/11& 2/11& 2/11& 2/11& 2/11& 2/11& 2/11& DJUZ !PGTFBMCFB DI Ej sf ddboe!P\Af siaggj oh!(Dapgf sz!Uby!SbLf t Mgt d Uf o! q t dbrtZ f bst q t dbrtZ f bs 3115 3116 3117 3118 Dj a! Ej sf ddS bLf t; Dj tz!Ej sf ddSbLf 2/11111 2/11111 2/11111 2/11111 P4sbggjoh!SbLft; Psbohf !Dpvoa!Cpoet 1/11162 1/13865 1/12656 1/126:: N f upgpijlbo!X bd s!EjtL�du 1/11721 1/11691 1/11631 1/11581 Pd f s!Ejtu�dd 1/11111 1/11111 1/11111 1/11111 UpdbtEjsfddSbLf !!2/11772 !!2/14445 !2/13176 !2/1317: OP UF; .b 2: 89- Db*soj b \ApLf st gbtt f e CDapgptj 4 p 24 x i j di t Lt u f gspgf stz Lby sNf bu b 2/11 & d yf e bn pvotJ Ui j t 2/11 & j t t i bsf e cz brmbyj oh bhf odj f t gas x i j di of tvclfdugspgfsz sftjoft xjujo/ .b beejypo Lp of 2/11& dyfe bnpvoL+ gspgf sLE px of st bsf di bshf e dyf t bt b of 91 oLbhf pg bt t f t t f e gspgf SLE vjbmf t g)sd f qbzn f oupgd f Tdi ppnfjtu�ducpoet/ Tpvscf;!!! Dpvou '!pdPsbohf- !BvejLps.DpoLEpnf (t!Pgddf 114 3119 311: 3121 3122 3123 3124 0`"11 a10IfiIIf jjfifiIIf KjfifiIIf jjfifififi�%fifIII 1/12612 1 / 12583 1/12784 1 / 12861 1/12865 1 / 12992 1/11561 1 / 11541 1/11541 1 / 14458 1/11481 1 / 11461 1/11111 1/11111 1/12:: 6 1/11481 1/14714 1/15235 !2/12:62 !!2/12:13 !2/151:9 !!2/16578 !2/16838 !!►2/17466 115 DJUZ!PGTFBMCFBDI q odj gbrt�f sz!Uby!(lzf st Dvssf odZf bs!boe!gof !Zf bst!Bhp Ubyqbzf s Tf brlCf bdi !N vLvbm PYZ!N/poh!Cfbdi !.bd Spttn pps!Ti pgt!MVD Cpfjoh!Opsti !Bn fldbo gyczcju.!gycz!Pgddf!Ctd !MVD BTO!Wh!Cf bdi !MVD EDPS -!MVD B2!VojLfe!TLbJt!TfbrlCfbdi !Tfojps!l pvtjoh Sbodi !Upxo!Dfods!MVD I f rm bo!(Dapgf syf t Df ouis!ObypobrtCapgf syf t 9v4of !.b\dt Ln f odNM gycz!Sbodi !Dpn gboz Ubshf dDpsgpsixjpo X MI pn ft!MVD 3124 3115 (f 91 odpd Cf 91 odpd UptbrtDj Lz UpLbrtDj Lz Ubybcrfi Ubybcrfi Ubybcrfi Ubybcrfi Bttfttfe Bttfttfe Bttfttfe Bttfttfe V\brmf V\brmf V\brmf V\brmf • !!!!753- 924 -54: 25/45& % 155: - 773 -278 26/88& !!! 289 -777 -: 34 4/:: & !!! 236 -34: -111 3/8: & !!!P-25-821-: 81 3/67& !2: 4-876 -168 7/8: & !!!!!!77 -411- 111 2/59& !!!62- 961 -6:3 2/93& 11111 !72- 771- 945 2/49& !!1!!66- 225 -536 2/34& !!!!!58- 118 -447 2/16& !!!!!53 -42: -561 1/: 5& !!!!!43 -167 -:88 1/83& !!!24 -112 -782 1/57& !!!45 -859 -283 2/33& !! !49 -611 -111 2/46& !!! B7 -9: 3 -47: 1 /: 5& !!!29-167-198 1/74& !! ! 28 -44: -:: 1 1/72& • 2-476-99:-465 41/59& %!954-927-216 3: /6: & Ui f !bn pvoLt !t i px o!bcp\Af !j odrvef !bttf ttf e!vbrvf !ebrb!g:)s!cpd !d f !Dj Lz!boe!d f !Sf of vd rpgn f oUB hf odz/ TpvsJF;!!!I EMDpsfo!' 1Dpof 116 DJUZ!PGTFBMCFBDI CDapgf sz!Uby!Nf vyf t !boe!Dprrfidypot Nbt to Uf o!q t dbrtZ f bst OP UF; Ui f bn pvoLt qsf t f od e j odrvef Dj u' gspgf sLE Lbyf t boe Sf of \Af rpqn f ou B hf odz Lby j odsf n f otJ Ui j t t di f evrfi brtp j odrmef t bn pvoLt dprrfidLf e cz u f Dj u' boe Sf of \Af rpqn f ou B hf odz u bu x f sf qbt t f e. u spvhi Lp pd f s bhf odj f t / P o E df n cf s 3: - 3122- u f Db*soj b Tvqsf n f Dpvsuvqi f re B t t f n cm q rrr2Y37 u bugspvjef t gas d f ejtt prmypo pg brm sf of vd rpqn f ou bhf odj f t j o d f Tdxf pg DbrjWsoj bl Ui f Sf of vd rpqn f ou B hf odz x bt ej t t prmf a po Cf csubsz 2- 3123/ Tpvsdf ;! Psbohf !Dpvou'!Uby!Nfiehf s 117 DprrfidLf e!x j u j o!d f ! q t dbm Ubyf t! 9 vyf e q t dbrtZ f b pd Nf vAz Dpn" pot !j o UptbrtDprrfidy pot! r.p! E bLf Z f bs! Foef e g:)S! o f C f sdf ou Tvct f r of ou C f sdf ou I4iof !41 q t dbrtZ f bs B n pvor pd NR vAZ Z f bst B n pvoL pcj Nfi vAZ 3115 %6 -574 -: 9: %6 -57: -4: 9 211/21 & %!!!!!Y4-672 %!6-643-:6: 212/37& 3116 !!!6 -:93 -561 !!!6- 591 -783 :2/72& !!!!!!!!Y4 -412 !!!!6 -654 -:84 :3/78& 3117 !!!P -429 -: 96 !!!7- 265 -555 : 8/51& !!!!!!!!i 2 -375 !!!!Y- 356 -819 :9/95& 3118 !!!9 -443 -3: 5 !!!9- 166 -466 :7/79& !!!!!!!!i 2 -76: !!!!9- 258 -125 :8/89& 3119 !!!9- 213 -171 !!!8- 965 -552 :7/:5& !!!!!!262 -689 !!!!9- 117 -12: :9/92& 311: !!!9 78 -3:4 !!!9- 396 -231 :7/82& !!!!!!218 -69: !!!!9 -4:3 -81: :8/:7& 3121 !!!!9 -473 -671 !!!1.8 -425 -493 98/58& !!!!!!B68 -137 !!!!M82-519 :1/65& 3122 !!!!9 -496 -526 !!!9-2: 1 -971 :8/79& !!!!!!289 -394 !!!!9 -47: -253 :: /92& 3123 !!!!9- 719 -884 !!!U- 515 -732 :8/74& !!!!!!236 -12: !!!!M3: -751 :: /19& 3124 !!!!9- 925 -363 !!!9-73: -382 : 8/: 1& !!!!!!229 -756 !!!!958 -: 27 :: /36& OP UF; Ui f bn pvoLt qsf t f od e j odrvef Dj u' gspgf sLE Lbyf t boe Sf of \Af rpqn f ou B hf odz Lby j odsf n f otJ Ui j t t di f evrfi brtp j odrmef t bn pvoLt dprrfidLf e cz u f Dj u' boe Sf of \Af rpqn f ou B hf odz u bu x f sf qbt t f e. u spvhi Lp pd f s bhf odj f t / P o E df n cf s 3: - 3122- u f Db*soj b Tvqsf n f Dpvsuvqi f re B t t f n cm q rrr2Y37 u bugspvjef t gas d f ejtt prmypo pg brm sf of vd rpqn f ou bhf odj f t j o d f Tdxf pg DbrjWsoj bl Ui f Sf of vd rpqn f ou B hf odz x bt ej t t prmf a po Cf csubsz 2- 3123/ Tpvsdf ;! Psbohf !Dpvou'!Uby!Nfiehf s 117 DJUZ!PGTFBMCFBDI S N pt !pdP vet Lboej oh!E f cdcz! Uzgf Nbt u of !q t dbrtZ f bst H Hpdson fouxjef!Bdyvyyft q t dbrtZ f bs Dpvorszx j of Uby Of otj po q sf B evbodf UpLbm Foef e Dbqj dxfi Cj obodj oh B rrpdbj po P crjbby po Tdxj po LP H pd son f oibm Wof!41 Nfbtf Bvd psjLzMbtf Cpoet Cpoet Cpoet SEB Bdyvyyft 3116 OA2- 956 -434 %!!!!!!!B16 -111 %!8- 971 -111 W!21- 521 -434 3117 !!!!!!! 25 -786 !!!!!!!!!!!731 -111 !!!!8-636 -111 !!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!! !!!!!!!!!i -16: -786 3118 !!!!!!847 -821 !!!!!!!!!!!641 -111 !!!!8 -281 -111 !!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!! !!!!!!!!!9- 547 -821 3119 !!!!!!Y42 -785 !!!!!!!!!!646 -111 !!!f7- 911 -111 21 -:56- 111 !!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!! !!!!!!!29- 922 -785 311: !!!!!!645 -555 !!!!!!!!!!446 -111 !!!f7 -521 -111 21 -32: -111 !7-2: 6 -111 !!!!!!!!!!!!!!!!! !!!!!!!84 -7: 4 -555 3121 !!!!!!544 -: 79 !!!!!!!!!!1341 -111 HF -116 -111 !!! -418 -111 !6 -886 -111 !!!!!!!!!!!!!!!!! !!!!!!!82 -861 -: 79 3122 !!!!!!434 -6:6 231 -111 !!!!6 -686 -111 !!9 -422 -111 !6 -466 -111 !12-311 -111 !!!!!!!31- 995 -6:6 3123 !!!!!!813 -692 !!!!!!!!!!!!!!!!!!!!!!!. !!!!!!!!!!!!!!!!!!!. !!8- 338 -111 15 -:46 -111 !2-311 -111 !!!!!!!24 -675 -692 3124 !!!!!!!!81246 !!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!. !!Y -156 -111 15 -626 -111 !2-311 -111 !!!!!!!22- 941246 U f !Dj Lz!pdTf brtCf bdi !i bt !f rfidd e!Lp!t i px !pore!oj of !zf bst !pdebLb!g)s!d j t !t di f evrfV OpLft; Efrbjrtisfhbsejoh!d f! Djtzo! pvLtrboejoh !efcddbo!cf!g)voe!jo!d f!opLft!rp!d f !dobodj brh LbLf n foLt Jo!beej0po!po!Efdfn cfs!3: - !3122 -!d f!DbV- cojb!Tvgsfn f!Dpvslvgi fre!Bttfn cre!grrt2Y37 d bdgspAeft!g)s!d f!ejttpruopo!pdbrrtsfefdrpgn fodbhfodjft!jo!d f!Tdxf!pdDbgW- cojbi!Ui f Sfefdrpgn fodBhfodz!X bt!ejtt prvvf e!po!Gf csvbsz!2-!3123/!Ui f!efcdx bt!tsbotgf ssfe!rp!d f Tvddittps!Bhfodz!rp!d f!TfbrtCfbdi !Sfofdrpgn fodBhfodz/ 2Tff!d f!tdi fevrfi!pdEfn phsbqi jd!boe!Fdpopn jd! TMtydt !po!gbhf!236!g)s!gfstpobrtjodpn f!boe !!gpgvrtxjpo!ebLb/ +E bb!opdsf bej re!bubj nccrfii Tpvsdf;!gobodf!Efgbsn foL+!DjLz!pdTfbrtCfbdi 118 Cvtjoftt. u'qf !Bdovy of t Fdpopnjd E f 4 rpq n fou D bqj tbrh Tf x f s! Tf x f s Upbm UpLbm Cif sdf o Lbhf E f cu !!!Ben jojtu#xjpo Frvjqn fou Dfajddbtft!pg 3122!JotLbmn fou Cvtjoftt.u'gf qn bsz pKjQfstpobm Cfs Nebo Nfbtf Cbajdjgbypo Bhsffn fou Bdovyyft Hp4son fou bdpn f!L Dbgj02 °/b!!!!!!!!271 -88: °/b08 -994 %!!M -9:6 -111 °/b!!!!!!!!!!!!!!!!!!! %!!!5 -194 -773 ° /25- 5:4 -:96 2/38& !!!!!682 !!!!!!!!!!!262 -884 !!!!!!!► -5: 3 !!!!!!!4- 926 -111 !!!!!!!!!!!!!!!!!!!!!! !!!!!!4 -: 87 -376 !!24 -146 -: 51 + !!!!!617 !!!!!!!!!!!253 -428 !!!!!!!!!!!!!!!! !!!!!!!!x-841 -111 !!!!!!!!!!!!!!!!!!!!!i !!!!!!?t- 983 -428 !!23 -41: -138 + 11111587 !!!!!!!!!!!243 -499 !!!!!!!!!!!!!!!! !!!!!!!4 -756 -111 !!!!!!!!!!!!!!!!!!!!!i !!! M-888-499 !!B3 -69: -173 + 11111984 !!!!!!!!!!!232 -:73 !!!!!!!!!!!!!!!! !!!!!!!4 -666 -111 !!!!!!!!!!!!!!!!!!!!!i !!!!!!?f -787 -:73 08 -481 -517 + 12-163 !!!!!!!!!!!222 -127 !!!!!!!!!!!!!!!! !!!!!!!4 -571 -111 !!! M-682 -127 06 -432 -: 95 + 12-151 !!!!!!!!!!!!!! : -632 !!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! !!!!!!4-3::-632 !!!!!!4 -4:: -153 05- 394 -748 + "!"' 45 !!!!!!!!!!!!!98 -564 !!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! !!!!!!a} -196 -111 !!!!!!?f- 283 -564 !!27 -848 -145 + !!!!!795 !!!!!!!!!!!!!88 -891 !!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!! !!!!!!8 -721 -512 !!!!!!8- 799 -292 !!P: -629 -427 + !!!!!861 119 Cj t dbrtZ f bs Foef e Ktof !41 3116 3117 3118 3119 311: 3121 3122 3123 3124 Uby B rrpdby po Cpoet %!!!!B- 971 -111 1111!!! X3-636 -111 B-281 -111 !!!!!!!l7- 911 -111 !!!!!!!l7- 521 -111 !!!!!!!l7- 116 -111 1111!!! 13-686 -111 DJUZ !PGTFBMCFB DI Sby p!pd Hf of sbn`Cpoef e!E f cdP vet Lboej oh Mgt uq of !q t dbrtZ f bst qvbf C7bdf n f ou Cpoet �jblllllllllllllllllll I 1111! 27- 525 -111 1111! 26 -193 -111 1111! 24 -777 -111 1111123-273-111 11!!!21 -671 -111 UpLbm Cpoet %!!.&971 -111 I I I I I B -636 -111 !!!!1B- 281 -111 !!!!!!7- 911 -111 !!!!33- 935 -111 !!!!32- 198 -111 !!!2: - 352 -111 23-273-111 !!!21 -671 -111 H of sbftpoef e!ef cdj t !ef cdgbzbcrfi!x j u !hp\nf sin f o brkyoe!sf t pvsd t !boe!hf of stem perjiibypo! cpoet !Idpsafe!j off oafsgjtf!Woet!)pdx i jdi -!u f!Djm!i bt!opof */ 2 B t t f t t f e!vbmf !i bt !cf f o!vt f e!cf dbvt f !u f !bdwbrtWomf !pd Lby bcrfi!gspgf sz!j t !opu !!sf bej m!b 4 rbcrfi!j o!u f !Tdif !pdDbrjVscj bl C f 91 odpg Bttfttfe V\bruaf !2 1/34& 1/2: & 1/28& 1/26& 1/5: & 1/56& 1/51& 1/36& 1/32& Cfs DN Lb %!!!!!!!!41: /71 !!!!!!!!!!!B: 3/32 !!!!!!!!!!!B88/47 !!!!!!!!!!!B73/85 !!!!!!!!!!!988/62 !!!!!!!!!!!976/96 1/17 !!!!!!!!!!!5: 7/78 !!!!!!!!!!!517/11 OP UF; Po EfdFn cfs3: - 3122- u f Db*scjbTvgsfn f Dpvsuvgi fre Bttfn cna gnT2Y37 u bugspvyeft Ts f ejttpmgpo pg bmff of vxf rpgn f ou bhf odj f t j o u f TLbJ pg Db*scj bl Ui f Sf of vxf rpgn f ou B hf odz x bt ej t t prvi po G cs✓bsz 2- 3123/ Ui f of cux bt ubot g ssf a Lp u f TvddF t t ps B hf odz Lp u f Tf brrCf bdi Sf of \Af rpqn f ou B hf odz Tpvsl ;!q obodF ! E f gbsn f ou!Dj u'!pdTf brtCf bdi 120 CITY OF SEAL BEACH Schedule of Direct and Overlapping Debt June 30, 2013 2012 -13 Assessed Valuation: $4,480,556,641 non - bonded capital lease obligations. Ratios to Adjusted Assessed Valuation: Total Overlapping Tax and Assessment Debt Total Debt City's Share of OVERLAPPING TAX AND ASSESSMENT DEBT: % Applicable (1) 6/30/2013 Debt 6/30/13 Metropolitan Water District 0.213% $165,085,000 $ 351,631 Coast Community College District 3.163 648,598,698 20,515,177 North Orange ft. Community College District 1.255 213,394,001 2,678,095 Los Alamitos Unified School District School Facilities Imp District No.1 51.930 68,521,127 35,583,021 Huntington Beach Union High School District 0.0001 210,579,998 211 City of Seal Beach Community Facilities District No. 2002 -1 100 3,610,000 3,610,000 City of Seal Beach Community Facilities District No. 2005 -1 100 8,595,000 8,595,000 City of Seal Beach 1915 Act Bonds 100 360,000 360,000 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 71,693,135 OVERLAPPING GENERAL FUND DEBT: Orange County General Fund Obligations 1.047 190,546,000 1,995,017 Orange County Pension Obligations 1.047 306,287,244 3,206,827 Orange County Board of Education Certificates of Participation 1.047 15,770,000 165,112 Municipal Water District of Orange County Water Facilities Corporation 1.257 10,035,000 126,140 North Orange County Regional Occupation Program Certificates of Participation 4.646 10,920,000 507,343 Los Alamitos Unified School District Certificates of Participation 56.21 47,036,650 26,439,301 Other School District General Fund Obligations 0.0001- 0.0003 65,671,090 77 City of Seal Beach Fire Station Lease Revenue Bonds 100 4,935,000 4,515,000 City of Seal Beach Taxable Pension Obligations 100 6,045,000 6,045,000 TOTAL GROSS OVERLAPPING GENERAL FUND DEBT 42,999,817 Less: MWDOC Water Facilities Corporation (100% self - supporting) 126,140 TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT 42,873,677 TOTAL DIRECT DEBT 10,560,000 TOTAL GROSS OVERLAPPING DEBT 108,787,952 SUBTOTAL OVERLAPPING DEBT 108,661,812 GROSS COMBINED TOTAL DEBT $114,692,952 (2) GRAND TOTAL OF DIRECT AND OVERLAPPING DEBT $114,566,812 (1) Percentage of overlapping agency's assessed valuation located within boundaries of the city. Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and tax allocation bonds and non - bonded capital lease obligations. Ratios to Adjusted Assessed Valuation: Total Overlapping Tax and Assessment Debt 1.60% Total Direct Debt ($10,980,000) 0.25% Gross Combined Total Debt 2.67% Net Combined Total Debt 2.67% Ratios to Redevelopment Incremental Valuation ($398,953,442): Total Overlapping Tax Increment Debt Source: California Municipal Statistics, Inc. 121 1.17% 1011IYAaolIWAMaQ911 9hbrtffcdN bshjo!.bg)sn by po IVbtugof!zfbst!! q t dbrtz f bs 3116 3117 3118 3119 E f cj drjn j L %!!!598-577-347 %! 633 - 736 -647 % 713- 268 -461 %! 755 -889 -56: Uprbrfofdefcdbggrj- dbcrfi!Lp!rjnjL 9hbrtefcdn bshjo %!!!598 -577 -347 W633- 736 -647 %!713- 268 -461 %!!755 -889 -56: UpLbtef cdbggrjtbcrfi!Lp!d f !rjn j bt!b!gf9cfoLbhf!pdefcd In jL 1/1& 1/1& 1/1& 1/1& 9 hbrtE f cal N bshj o! Dh-dv bj po! g:)s! Cj t dbrtz f bs! 3124 B t t f t t f e!V\brvby po IA5 -: 23 -621 -763 Ef cdgf sdf oLbhf !2 26& Ef cdrjn j u 11111647- 987 -6: 9 Ef cdbgq #bcrfi!Lp!rjn ju 9 hbrtef cal n bshj o %!!647-987-6: 9 U f!Dju'!i bt!f rf-dLf e!Lp!t i px! pore !ojof!zfbst!pdebtb!g)s!ujt!tdi fev& OpLf ;!2Voef s!t LbLf !dobodf !rtax -!d f !Dj u'!pdTf brtCf bdi O!pvLt Lboejoh!hf of sbrtpc#Wpo!ef colt i pvre opdf ydf f e!26!gf 9cf odpdLpLbrtbttf ttf e!gspgf su'!vbrvf /!!Cz!rbx -!d f !hf of d tperjbNpo!ef cu tvclf dULp!d f !rjn jdxjpo!n bz!cf !pg4f dcz!bn pvoLt!tf dbtjef !g:)s!sf gbzjoh!hf of sbrtperjiibypo!cpoet/ Tpvsdf;!!Psbohf !Dpvou'!Uby!Bttfttps�!Pgddf!!!! 122 311: 3121 3122 3123 3124 %!!!814- 552 -56: %!!!813 -93: -725 %!!!816-217-865 %871 - 141 -439 °/u HB47 -987$: 9 %!!!814-552-56: %!!! 813 -93: -725 %!!!816-217-865 OA871- 141 -439 °/d H B47 -987 -6: 9 1/1& 1/1& 1/1& 1/1& 1/1& 123 9a �f�ll��:�►�[�7�:��71 Qfiehf e. Sf \Af ovf ! Dpvd sbhf N/bt to Uf o!q t dbrtZ f bst !!!!!!!3111 !Uby!B npdbypo!Sf g/oej oh!Cpoet q t dbr fZ f bs Foef e Uby Ef cdTf sydf Kvof !41 .bdsf n f ou q odj qbm .brf sf t u Dpvd sbhf 3115 %2- 162 -19: W!426-1 11 °/b11!535 -246 !!!!!!!!!!!!2/53 3116 !!!!!!999 -126 111111431 -111 !!!!!!514 -866 !!!!!!!!!!!!2/34 3117 !!!2- 249 -552 !!!!!!x}46 -111 !!!!!!49: -427 !!!!!!!!!!!!2/68 3118 !!!B- 537 -287 !!!!!!466 -111 !!!!!!484 -:44 !!!!!!!!!!!!4/44 3119 !!!P -:44- 153 !!!!!!481 -111 !!!!!!468 -625 !!!!!!!!!!!!3/77 311: !!!P- :41 -82: !!HM:1 -111 !!HH449 -98: !!!!!!!!!!!!3/76 3121 !!!2-879 -:2: !!!!!!516 -111 11HH429 -165 !!!!!!!!!!!!3/56 3122 !!!P -895 -:75 !!!!11541 -111 !!!!!!B:7- 294 !!!!!!!!!!!!3 /57 3123 !!!P- 145 -7:6 !!!!!!561 -111 !!!!!!f}:7 -519 1111111111112/33 3124 !!!2-8:1 -:71 !!!!!!581 -111 11HH441 -795 1111111111113/35 U f!Dja!i bt!frfidLfe!Lp!ti px! porn! ojof!zfbst!pdebtb!gps!ujt!tdi fevrfY Oprf ;!Ef Lb rtfsf hbsej oh! u f !Djao!pvrfrboej oh! ef cddbo!cf !g:)voe!jo!d f !opLf t!r.p!d f !dobodjbrh tLWnforf/ TpvSrlf ;!!gobodf ! E f gbstn f ou!Dju'!pdTf briCf bdi 124 DJUZ!PGTFBMCFBDI Ef n phsbgi j d!boe!Fdpopn j d!Tdxjt ydt Mgt dUf o!Dbrfioebs!Zf bst U f !Dj u'!i bt !f rfidrf e!Lp!t i px !pore!Lf o!zf bst !pdebLb!g)s!d jt !tdi f evrfY Tpvscft;!I EMDpsfo!' !Dpof 125 Cfstpobm Cfs!DNLb Dbrfioebs .bdpn f Cf st pobrh Vof n grpzn f ou Z f bs (:pgvrby po )j o! d pvt boet * .bdpn f S bLf 3114 36 -1: 4 °/b!!!!!!!!!i 31 -783 %!!!!!!47 -7: 1 4/6& 3115 36 -228 !!!!!!!!!!!t 93 -991 !!!!!!!!!4: -243 4/2& 3116 36 -498 !!!!!!!!!2 -164 -334 !!!!!!!!!52 -598 3/8& 3117 36 -499 !!!!!!!!!2- 253 -19: !!!!!!!!!55 -:96 3/6& 3118 36 -863 !!!!!!!!!2- 329 -454 !!!!!!!!!58 -422 3/9& 3119 36 -962 !!!!!!!!!2 -347 -:32 !!!!!!!!!58 -959 4/9& 311: 36 -992 !!!!!!!!!2 -2:5 -887 !!!!!!!!!57 -275 7/7& 3121 37 -121 !!!!!!!!!2 -156 -765 !!!!!!!!!51 -313 8/2& 3122 35 -465 !!!!!!!!!2- 146 -424 !!!!!!!!!53 -622 7/5& 3123 35 -598 !!!!!!!!!2 -176 -785 !!!!!!!!!54 -631 5/2& U f !Dj u'!i bt !f rfidrf e!Lp!t i px !pore!Lf o!zf bst !pdebLb!g)s!d jt !tdi f evrfY Tpvscft;!I EMDpsfo!' !Dpof 125 DJJZ!PGTFBMCFBDI q odj gbrtF n grpzf st Dvsd oUZ f bs! 3121 3112 ++ !!!!Cbtfe!vgpo!I EMDpsfo!' ! Dpof! ftynbrf !pd21- 164!sftjefoLt!fngrpzfe + +,bg:)m bypo!opdbr4rbcrfi Tpvscf;!!I EMDpsfo!' !Dpof 126 C f scf oupd Cf scf oilpd Ovn cf Mpg UpLbrh Ovn cf Mpg UpLbrh Fn qrpzf s Fn qrpzf f t Fn qrpzn f ou Fn qrpzf f t Fn qrpzn f ou Cpfjoh!Dp/ !!!!!!!!!!!B -616 35/:3& VT!I f brYi dbsf !Tf s4df t !!!!!!!!!!!!!611 5/: 8& Bddvsxf !N f trit jdbLpst !!!!!!!!!!!!!411 3/: 9& N BH!UFL !!!!!!!!!!!!!361 3/5: & Ubshf u !!!!!!!!!!!!!311 2/:: & Dpvouz!VNrrb !!!!!!!!!!!!!296 2/95& gstdUfbn!SfUtFttbrf !!!!!!!!!!!!!286 2/85& L PI "!Efgbsn foUTLpsf !!!!!!!!!!!!!246 2/45& Pre!Sbodi !Dpvouz!Druc !!!!!!!!!!!!!241 2/3: & Prtpo!Dpn qboz !!!!!!!!!!!!!231 2/2: & DvtLpn !Cvjrej oh! CDapevdLt !!!!!!!!!!!!!212 2/11& N dHbvhi !Fft f otbsz!Tdi ppm !!!!!!!!!!!!!211 1/:: & Spn bopo!N bdbspoj!Hlrm !!!!!!!!!!!!!211 1/:: & N t4f!Dbrfioef 4 !!!!!!!!!!!!!!!! 1 1/: 1& X brr(t!X i bsjSftLbvsbou !!!!!!!!!!!!!!!! 1 1/: 1& !!!!!UpLbm !!!!!!!!!!!5 -: 92 5:/64& !!!!Cbtfe!vgpo!I EMDpsfo!' ! Dpof! ftynbrf !pd21- 164!sftjefoLt!fngrpzfe + +,bg:)m bypo!opdbr4rbcrfi Tpvscf;!!I EMDpsfo!' !Dpof 126 DJUZ!PGTFBMCFBDI &myn f !boe!Cbsuyn f !Dju'!Fn grpzfft cz!G/odypo MgtdTjy!gtdbrtZfbst U f !Dju'!pdTf brtUbdi !i bt!f rfidLfe!Lp!ti px !pore!d f !gsfvypvt!tjy!zf bst!pdebtb!g)s!u jt!tdi f evrfY! Tpvsc f ; ! q obodf ! E f gbs.n f ou! Dj u' !pdTf brtCf bdi 127 &mtJj n f !boe!Cbsu Uj n f Fn grpzfft!bt!pdK/of!41- G/odypo 3119 311: 3121 3122 3123 3124 Hfofsbthp\Af son fou !!!!24/1: !!!124/23 !!!25/63 !!!!25/63 !!!!24/94 !!!21/:8 0/crj-d!tbgf a !!!!!69/: 5 !!!!6: /18 !!!76/99 !!!!!76/99 !!!!75/88 !!!!74/: 2 0/crj-d!x psi t !!!!25/87 !!!25/87 11126/51 !!!!26/51 !!!!!!9/47 !!!22/5: Dpn n voj u' !!ef \Af rpgn f ou 1111124/47 111124/81 21/29 !!!!!21/29 1111119/91 !!!!21/71 X bds 1111 124 /11 111 124 /11 11123/66 1111123/79 !!!!23/59 111123/3: Tf x f s 11111114/: 6 1111114/: 6 !!!!!4/53 11111114/86 !!!!!!4/: 6 1111114/: 6 UpLbm !!!228/21 ! 1228/71 !232/: 6 !!!233/52 ! ! 223/2: !!224/32 U f !Dju'!pdTf brtUbdi !i bt!f rfidLfe!Lp!ti px !pore!d f !gsfvypvt!tjy!zf bst!pdebtb!g)s!u jt!tdi f evrfY! Tpvsc f ; ! q obodf ! E f gbs.n f ou! Dj u' !pdTf brtCf bdi 127 DJ-2 !PGITFBMCFB DI Pqf dajoh!.bej dbLpst cz!G/ody po Mgt dTj y !q t dbrtZ f bst q t dbrtZ f bs 3119 311: 3121 3122 3123 3124 opw ; !!!!!2 -262 Bs4tLt !!!!!!!!!845 Cbd joh!djdxj pot !jttvfe !!!!29 -292 Q/crA!x psi t; H28 -488 Tuf f ddf oaf sjiof !n j rfit !sf tvsjodF e !!!!!!!!!!!!!2 Ovn cfslpdgvc#!lhi dpdx bz!gfEnjLt!jttvfe !!!!!!!!!2: 5 Ovn cfslpdtuffUsfrbLfe !tfsnjdf!sfrvftLt !!!!!!!!!3: 9 Cbd t !boe!sf dsf by po; !!!!!!!!B19 Ovn cfslpdsfdsfbypo!drbttft !!!!!!!!!663 Ovn cfslogbdj*!sfoLYafi !!!!!!!!!482 X bLf s; !!!!!!!!!!136 Ovn cf slpdx bd sin f Lf st !sf grbdf a !!!!!!!!!361 Bdsf!gf fdpdx bd s!vtfe !!!!!!5 -136 Tfxfs; !!!!!!!1568 Ovn cf slpdgf f Updtf x fs!drfibofe !!31: -511 Ovn cfs!pddbLdi !cbtj ot!drfibof e !!!!!!!!!53: !!!!!!!!962 !!!!!2 -262 !!!!!!!945 !!!!!!!816 !!!!!!!92: !!!29 -575 !!!!29 -935 H28 -488 H 29 -639 !!29 -562 !!!!!!!!!!!!5 !!!!!!!!!!!4 !!!!!!!!!!!8 !!!!!!!!!!!3 !!!!!!!!B19 !!!!!!!!531 !!!!!!!252 !!!!!!!238 !!!!!!!!!:7 !!!!!!!!893 !!!!!!!!!!136 !!!!!!!235 !!!!!!!232 !!!!!!!245 !!!!!!!!534 !!!!!!!!B:: !!!!!!!1568 !!!!!!!567 !!!!3267 !!!!!!!!453 !!!!!!!!1513 !!!!!!!.419 !!!!!!!673 !!!!4 -293 !!!!!!!!283 !!!!!!!!259 !!!!!!!269 !!!!!!!223 !!!!!!239 !!!!!4 -:11 !!!!!l4 -791 !!!!4 -5:9 !!!!.4-645 !!!!4 -929 ! 269 -511 ! t34: -31: 295 -158 1314 -695 856 -: 97 !!!!!!!!511 !!!!!!!!•499 !!!!!!!!461 !!!!!!!528 !!!!!!!528 U f !Dj m!pdTf bn`Cf bdi !i bt !f rfidd e!Lp!t i px !pom!d f !qsf vypvt ltjy!zf bst !pdebLb!g)s! u j t !t di f evfi/ Tpvsl ; ! Dj m!WTf brtCf bdi 128 QUOTA aoIIaQ AA to] 9:1911 Dbgj ►brtBttf UTLbot ydt cz!G/odypo K/bt UTj y !q t dbriiZ f bst U f ! Dj m!pdTf brtCF bdi N bt !f rfidd e!►p!t i px !pom!d f !qsf vypvt !tj y!zf bst !pdeb►b!g)s! d j t !t di f evfi/ Tpvsdf ;!Dj m!pdTf brtCf bdi 129 q t dbrfZ f bs 3119 311: 3121 3122 3123 3124 T►txjpot 3 3 3 3 3 3 Crtvoj Lt 48 46 47 47 45 45 Qicrj-d!x psi t; TuffLt!)dfodslrjuf!njrfit* !!!!!!!!!!!B4 54 54 54 54 54 Tjefx brh!)njrfit* !!!!!!!!!!!!97 97 97 97 97 97 Tj hobrjl f e!j oLf st f do pot !!!!!!!!!!!134 34 34 34 34 34 Cbd t !boe!sf dsf by po; Cbd t !!!!!!!!!!!21 21 21 21 21 21 Dpn n voj u'!df od st !!!!!!!!!!!!! 4 4 4 4 4 4 X bLf s; X bLf slgjgf !) n j rfit* !!!!!!!!!!! B3 83 83 83 83 83 Sftf&Pjst !!!!!!!!!!!!!B 3 3 3 3 3 Tfxfs Tboj►bs?!tfxfst!)njrfit* !!!!!!!!!!!!48 48 48 48 48 48 TLpm !tf x f st!)n jrfit* !!!!!!!!!!!!!b 5 5 5 5 5 Tfxfs!rjijAvnq!td3jpot !!!!!!!!!!!!!B 8 8 8 8 8 U f ! Dj m!pdTf brtCF bdi N bt !f rfidd e!►p!t i px !pom!d f !qsf vypvt !tj y!zf bst !pdeb►b!g)s! d j t !t di f evfi/ Tpvsdf ;!Dj m!pdTf brtCf bdi 129 UI Jf! QBHF !JJUFOU,POBMVI?!IVFGU!CIVBOL! 130