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SR-200-003 . ..- . . ,~ ~, "' - "\ '~.,/-- C . n, /~fD-a ;2tJo' PO 3 FD:CMD:aks/sracmn council Meeting: September 27, 1988 SEP 2 7 19aa Santa Monica, California TO: Mayor and city council FROM: city Staff SUBJECT: Recommendation to Authorize the city Manager to Negotiate and Execute Contracts with Mitchell Humphrey & Company and Arthur Young for Purchase and Installation of an Automated Financial Accounting System Introduction This is to recommend that the city Council authorize the City Manager to negotiate and execute contracts with Mitchell Humphrey & Company for the purchase, installation, and training of city staff in the operation of an on-line automated financial accounting system, and with the consulting firm of Arthur Young to assist city staff with various complex system implementation tasks. Replacement of the city's current batch-type automated financial accounting system is necessary to provide City staff with more current, complete and accessible financial information, to enable the City to account for and monitor costs associated with inter and intra-departmental public service activities, to realize various operating efficiencies, and to provide for the future accounting needs of the City. Background The City's existing batch-type automated accounting system is ten years old and does not effectively and efficiently meet the financial information needs of the city. Financial transaction data is periodically manually prepared for processing and - 1 - ~;-:~ . . keypunched. General financial reports are issued monthly, with limited information available weekly. Intra-departmental financial information (such as the cost of operations of separate branch libraries) and inter-departmental financial information associated with jointly provided services is not available or available only on a limited basis with extensive manual processing. The existing accounting system does not provide for automated linkages with Treasury and Purchasing operations. The technical capacities of the existing accounting system to accommodate the city's increasing complexity and data management requirements is rapidly being exhausted. Selection of New Automated Financial Accounting System and Implementation Assistance In response to these financial accounting needs, during FY1987-88 staff initiated the process of selecting a new automated financial accounting system. Recognizing that selection of a new system had to take into consideration the financial information needs of the city for at least the next five to seven years, and required an in-depth, technical knowledge of alternative systems currently available, consulting assistance was sought. Requests for Qualifications were sent to eight firms and four responses were received. After extensive interviews by a City selection team and background checks, the firm of Arthur Young was selected as the firm having the required expertise which would best meet the Cityts needs. Following interviews with departmental staffs, the City's current and projected financial accounting needs were compiled into a - 2 - . . Request for proposal (RFP). The RFP was sent to nine firms which produced financial system software which was compatible with the city's Hewlett-Packard computer hardware and associated systems, and which appeared to meet the Cityts current and projected needs. six proposals were received. These proposals were reviewed by an interdepartmental selection committee and two finalists were selected. The selection committee conducted extensive interviews, system demonstrations, and reference checking. Actual use of sample financial accounting systems were performed by staff of the Finance and Information Systems departments and observed by representatives of all other major user departments. Based on this selection procedure, City staff have selected Mitchell Humphrey & Company's FMS-80 on-line governmental financial accounting system. The FMS-80 system will permit direct input of financial transactions by Finance Department staff, make financial information available on a daily basis to all City staff authorized access to this data base, significantly enhance inter and intra-departmental cost accounting, provide automated linkage capabilities to the Cityts Treasury and Purchasing operations, and substantially expand the City's technical accounting capacity as compared to the current system. While Mitchell Humphrey & Company will install the FMS-80 system and train City staff in its operation, many significant technical implementation and transition tasks will need to be accomplished by the target implementation date of July 1, 1989. Experienced and knowledgeable assistance will be required by City staff to - 3 - ~ . . accomplish these tasks concurrent with maintaining existing Finance Department operations. The consulting firm of Arthur Young already has a broad understanding of the City's financial accounting and computer needs, and extensive experience with similar implementation processes. City staff therefore recommends that the assistance of Arthur Young be retained. Budget and Financial Impact Purchase, installation, implementation and staff training costs will be as follows: Item Cost - FMS-SO System Installation Services $ 87,800 - High Speed Printer and Additional Disk Drive Unit 60,000 - Implementation Assistance from Arthur Young 50,000 - Modifications to Finance Department Office Area 37,500 - staff Training Costs - Contingency 12,500 Total 12,700 $260,500 General Fund appropriation authority of $218,000 is at account number 01-710-202-00-902. An appropriation increase of $42,500 is required at this time to complete the project. This increase will be financed by contributions from the City's other funds which will directly benefit from the FMS-80 system. Necessary appropriation increases in the City's other funds and transfers - 4 - .~ . . to the General Fund will be included as part of the FY1988-S9 mid-year budget review. Recommendation Authorize the City Manager to negotiate and execute contracts with Mitchell Humphrey & Co. and Arthur Young as set forth in this staff report for the purchase, installation, and implementation of an on-line automated financial accounting system, and increase the appropriation at account number 01-710-202-000-902 by $42,500. Prepared by: Mike Dennis, Director of Finance - 5 - e e h-~ FD:CMD:RB:aks:srdmrc Council Meeting: September 13, 1988 SEP 1 3 1988 7-tP 0-- tJ 01-- t) 3 Santa Monica, California TO: Mayor and City Council FROM: city Staff SUBJECT: Resolution Designating Municipal Resource Consultants (MRC) as City's Representative to conduct Sales Tax Audits on Behalf of the City Introduction This is to recommend that the City Council adopt the attached resolution which designates Municipal Resource Consultants (MRC) as the City's representative to conduct sales tax audits on behalf of the City. Background Sales Tax revenue to the City of santa Monica in FY1988-89 is budgeted to be $15,330,000. This represents 19.3% of the city's General Fund revenue. City Sales and Use Tax receipts results from a 1% tax rate applied to all taxable sales within the City limits. These taxes are collected by the state Board of Equalization and subsequently returned to the city. The remaining portions of the total 6.5% Sales and Use Tax rate are divided between the State and the County Transportation Fund. conducting Sales Tax Audits on Behalf of the City A city budget objective for FY1988-89 is to conduct Sales and Use Tax audits to ensure that the amount of Sales and User taxes being paid by businesses located in the City is being properly collected and distributed back to the City by the state Board of Equalization. To implement this budget objective, staff has - 1 - 6-6 SEP 1 3 1988 e - interviewed and reviewed proposals from the two firms with the requisite expertise to perform these audits. staff has selected MRC to conduct these audits as they best meet the City's needs and have the most experience. MRC is a state Sales and Use Tax Consulting firm with expertise in performing "Point-of-Sales" distribution audits. MRC has been successfully performing such audits since 1978. These audits assure that Sales and Use Taxes earned in the City are properly distributed back to the City. Such audits normally take from 12 to 18 months to complete. MRC also assists a city by providing computer generated analytical Sales and Use Tax information specific to the city. MRC currently provides these audit and analytical services to over 55 California cities including Irvine, Long Beach, Riverside, Sacramento, San Jose, San Mateo, Santa Ana, Santa Clara, and Bakersfield. In order for MRC to begin auditing, it is necessary pursuant to section 7056 of the state of California Revenue and Taxation Code that the city designate MRC by resolution as the City'S representative to examine all of the Sales and Use Tax records of the state Board of Equalization pertaining to Sales and Use Taxes collected for the City of Santa Monica. Budget/Finance Impact The Finance Department FYl98B-89 budget contains sufficient funds at account number 01-130-224-000-506 to retain MRC to begin to - 2 - e - provide computer generated analytical Sales and Use Tax information pertaining to the City. For the performance of Sales and Use tax audit services, MRC will receive 25% of additional Sales and Use Tax revenues received by the city as a result of the audit for six prospective calendar quarters and 25% of any additional retroactive Sales and Use Taxes received by the City as a result of the audit. When exact amounts are known, staff will return to Council to request appropriate budget authority to effect payment to MRC. Recommendation It is recommended that the city Council adopt the attached resolution designating Municipal Resource Consultants as the City'S authorized representative to examine state Board of Equalization Sales and Use Tax records pertaining to the City of Santa Monica. Prepared by: C.M. Dennis, Director of Finance Ralph Bursey, City Revenue Manager/Treasurer - 3 - ALL FOR CIT~LERKrs ACTION ORDINANDr"' # Councll Meeting Date Introduced: Was lt amended? Adopted: ALWAYS PUBLISH ADOPTED ORDINANCES Cross out Attorney's approval Agenda Item # VOTE: Affirmat~ve: Negatlve: Abstaln: Absent: PROOF VOTES WITH ANOTHER PERSON BEFORE ANYTHING DISTRIBUTION: ORIGINAL to he signed, sealed and flIed in Vault. NEWSPAPER PUBLICATION (Date: ) Department origlnatlng staff report( Laurle Lleberman) Ordinances only for Attorney ( C1audla Thompson) 2 Management Servlces Lynne Barrette ORDINANCES ONLY 1 Agency rnentloned in document or staff report (certlfled?) SubJect fl1e (agenda packet) 1 Counter file 1 Others: (Review Al.rport Auditorl..um Building Dept. C/ED for departments who need to kno~) . Parking Auth. Personnel Planning Pollee Purchaslng Recr/Parks Flnance General Servo Library Transportation Manager Treasurer I Flre SEND FOUR COPIES OF ALL ORDINANCES TO: CODED SYSTEMS 4 120 Maln Street Avon, New Jersey 07717 SEND FOUR COPIES OF ALL ORDINANCES TO: 4 Debra Myrl..ck Santa Monica Munlclpal Court 1725 Maln Street, Room 118 Santa MonLea, CA 90401 Total Copies --5 fj e e RESOLUTION NO. 7684 (CITY COUNCIL SERIES) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA MONICA DESIGNATING A CITY CONSULTANT AS THE AUTHORIZED CITY REPRESENTATIVE TO EXAMINE SALES AND USE TAX RECORDS WHEREAS, Pursuant to California Revenue and Taxation Code section 7200, et. seg., the City of santa Monica has adopted a sales and use tax ordinance which imposes a tax and provides a measure therefore that can be administered and collected by the state Board of Equalization along the same and existing statutory and administrative procedures followed by the state Board of Equalization in administering and collecting the California State Sales and Use Taxes. WHEREAS, Pursuant to California Revenue and Taxation Code Section 7056, the city of Santa Monica, by resolution, may designate any officer, employee or any other person to examine all of the sales and use tax records of the Board pertaining to sales and use taxes collected for the City. WHEREAS, The City of Santa Monica has entered into a purchase order agreement for the sales tax audit and information services with the firm of Municipal Resource Consultants, a partnership of John Austin and Allen Charkow, to designate John Austin and Allen Charkow of Municipal Resources Consultants as authorized City representatives to examine such sales tax records maintained by the Board on behalf of the City of santa Monica. , , I e e WHEREAS, All legal prerequisites prior to the adoption of this Resolution have occurred. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS FOLLOWS: SECTION l. In all respects as set forth in the Recitals, Part A of this Resolution SECTION 2 . The Ci ty Council of the Ci ty of Santa Monica hereby certifies to the State Board of Equalization that John Austin and Allen Charkow of Municipal Resource Consultants are the designated representatives of the City of Santa Monica to examine all of the sales and use tax records of the Board pertaining to sales and use taxes collected by the Board on behalf of the City of Santa Monica. SECTION 3. Pursuant to California Revenue and Taxation Section 7056 (b), this Council hereby certifies that Municipal Resource Consultants, a partnership of John Austin and Allen Charkow (hereinafter referred to as "Consultant") meets all of the following conditions: a. Consultant has a purchase order with the City to examine sales tax recordsr b. Consul tant is required by that purchase order to disclose information contained in, or derived from, those sales tax records only to an officer or employee of the City who is authorized to examine the information: c. Consultant is prohibited by the purchase order from e .e performing consulting services for a retailer conducting business in the City of Santa Monica during the term of the purchase order; and d. Consultant is prohibited by the purchase order from retaining the information contained in, or derived from, those sales tax records after the purchase order has expired. SECTION 4. The City Clerk shall certify the adoption of this Resolution and, thenceforth and thereafter, the same shall be in full force and effect. APPROVED AS TO FORM: ~ ~ ~-.....- ROBERT M. MYERS 0 - City Attorney e e Adopted o ^ 1V1 tV'-"" " - tha the~ foregoing eptember, 1988. ------- May-ar-- ~ ., I hereby certify Resolution No. 7684(CCS) was duly adopted by the City Council of the City of Santa Monica at a meeting thereof held on September 13, 1988 by the following Council vote: Ayes: Councilmembers: Finkel, Jennings, A. Katz, H. Katz, Reed, Zane, Mayor Conn Noes: Councilmembers: None Abstain: Councilmembers: None Absent: Councilmembers: None ~E:G~t?ud~ ~~"ty C'lerk " e e ;?t?/-e1tt:J1 jig APR 1 4 19:::: ,~! Marwlck.Mltchell&Ca Certrlied PublIc Accountants 555 South Hower Streer Los Angeles, Cal1fomla 90071 (213) 972-4000 Apn.l 3. 1981 Thomas ,V. Snow Panner Mr. Charles Kent McClain C~ty :-fanager C~ty of Santa ~onica 1685 ~~iu Street Santa ~onlca, Cal~foraia 90401 Dear Xr. ~cClain: At your request, I revie~ed the JanuarJ monthly iinanclal info~tlon sub~tted to the Clty Cauncll under date or ~~rch 3, 1981, as prepared under the dlrectlon O~ ~r. Xick Rives, Director of Finance. I also revleweci Councll~n Sccttts :~rch 10, 1981 and ~arch 24, 1981 nemoranda to the City Council. quest~oni~g such financial lr.fcrmation as well as cne tape recorded proceedings cf the C~ty C~uncil ~eetlng w~ere such materials ~ere dlscussed. In the followlug paragraphs I have incluced our observations and suggestions fer lmprovlng the monthly fi~ancial reports submltted to the ClCY Councll. ~5 I uncerstand It. t~e Flnance Jepartment just undertook a pr~gran of won~hly financ~al report1ng to the City Council. The January I1nancial ~niormation sUDmltced to the City Council represented the second consecu~ive montn that ~nterlm financ~al lnfo~~tion ~ad been submltted. Background Tnere is no uulform procedure or format for lnterlffi financ~al infor~~tlon. Tue degree to WhlCh c~tles utilize lnterim financial inIornatlon at the City Council level range.s from assurances of the Dlrector of Z"inance that "everythl:lg is okt' to the outpu~ from veri sophistlca~ed. cocrputerized management lnio~tlon systems. The Clty of Santa Mcnlca is somewhere ~n the ~adle of the spectr~~ but is ahead or ~ost comparable cicies. Included as Ap~endlx A 13 an excerpt =roill Go~ernmental Accountlng AUGltlng and Flnanclal Reportlng. as ravlsed 1n 1980 by tne ~uniclpal Flnance Offlcers As30clatlon (~ITOA), 1U 7hich lnceri~ f~na~c1al re?ort~ng is cescribec. As you are aware. the ~ITOA suppor:s the ~ost authorltat~ve body of knowleage cn 5ove~- ien~a: acc~~!tl~g and Ilnanclal ~e~0Lt~~; end sets tie sta~card 0: :je ~nc0s~ry. :he ~ITOA prov~cies ~o real gu~dance for che ieta~ls o~ lnterl~ f~n&~c1al =2- portlng; ratner. It endorses ~~e concept of ~l~e:y in:crmaclon upon ~n~cn :~ base deCls~ons ~ut leaves each governmental entlty to lts C~U resources as to ~ow to prepare such infor=at~0n, wnat to ~~c~~de a~d ~hen to ?resent ~~. ~a a c~ty tne 3~ze a~d ca~?lexlty ci Santa ~lon~c~, It ~3 :or~~~a~e :hac :lnan~lal //8 ~ ~") ... ,,,,- , I :"!\tuw,,,, ",'chell &01 e ~ Mr. Charles Kent ~cCla~n C~ty of Santa :~n~ca April 3, 1981 2 informat~on can now be produced relat~vely qu~ckly. to determine what ~nformation ~t bel~eves is needed ~hich to ~ake f~nanc~al operating decisions. S~nce much of the City Counc~lfs concern stems irom the possible use or ~nap- propriate te~, I bel~eve ~t ~s appropr~ate to standardize our def~nit~ons and the use of certaia terms. Accordingly, ~ncluded as Appendix 3 to this letter are the standard deiinitions of terms such as "fund balanceTl ana n 'I' tl. .... _ .. enCDmorances tnat are usea througnouc tn~s letter. It ~s now left to management to serve as a basis upon As I perce~ve ~t, the concern of the City Counc~l is essent~allv who is correct ~n their analys~s of the Cityfs f1nanc~al pos~tion as of January 31. 1981. Councilman Scott used the informat~on prov~ded by the Cityfs F~nance DeDart~ent ~n developing his ~nterpretation of the City's flnancial status. Since- the raw data is conceded to be essentlally correct, the compilation of such data appears to be the central issue. In compili~g financ~al data on an lnterim basis, it 1S important to reco~lze the frailties of the Clty'S acccunt~ng system. Such system is contlnually in operation and 1S not subjected to a formal closing procedure in order to develop information as it would be at year end. Accordingly, the raw ~nformatlon devel- oped cray be somewhat imprecise, may be subject to adjustment and reclassiiicat~on. Finance Department personnel should be cautloned to take su~~ iillprec1s~on lnto account 1n developing thelr financ1al sta~ements. ~agement should also be aware or the lnherent problems in ga1ning a f~x on tae City's financial status at an interim date and tnat differing types OI r~nanclal analysis are needed to aid in the decislon-~klng process. ~or exa~ple. hlstorlcal ~~alysis of the Cityfs financ~al condition cannot be used to consider future courses of action unless accompanied by info~ed estiillates and project1ons of where the City is at the present time and where the City, at year end, may expect to be. The budget process certa~nly helps in this =egard. but l~ke interim ac- counting practices, conta~ns a certain degree of imprecis~on, especially when viewed at an ~nterim perlod and from an overall perspective. AnalyslS of the City's Interim Financ~al State~ents 30th the statements subm~tted by the FL~ance Department and CClliLc~l~an Scott's analys~s are ~eritorious. In the f~~al analys~s, they reflect the ?erSpectlves from WhlCh lnterlm fin~~c~al ~nfor.natlon should be viewed. Inter~~ f~nancial luformatlon should be developed to provlde tinely lnput ~o three bas~c questlons concerning the C~~y's operations, as follows' ~bere has the Cl~Y been s~nce lase year end? (nlstor~ca:) 1~t.I_Mllchcll&Ca Mr. CLarles Kent McCla~n City of Santa ~onica April 3~ 1981 3 e e ~nere does the City now stand? (current) t~ere w~ll the City be at the upcoming year end; (praspectlve) The Fluance Department's analys~s submitted to the City Counc~l prov~des the historical lnformation to answer the first questlon and provide an indicat~on regarding the second questlon. However, little, If any, lnformation is devel- oped concern~ng the third quest~on. On the other hand. Xr. Scott's analysis develops lnfo~tlon walch touches upon the second and the thlrd questlons. Such current/prospectlve info~a~ion raises nanage~ent questions that should be answered by the City's staff as a no~l part of the interim report. As suggested previously, the Finance Department's sub~ssion to the City Councll contalned verI l~ttle in the way of supplemental analysls or dlScussion as to "what the numbers meant". Disclosure of the facts ',nthout supplemental analysis or discusslon orten leaves the reader with many slgnlficant unanswered questions; and as ca~ be recalled from the Clty Councl1's discussion of the F~nance Department's report, supplementary analys~s and discussion is clearly needed. Specific Comments - Finance De?art~ent Report In order to best analyze tile Flnance Department's report. the speciflc ele~e~~s of the report shall be subject to comment. However. ~n order to be conslstent wlth the City Council's reccllect~on of the discuss~on surrounding the interl~ financial statements, such rev~ew shall only focus on the General Fund. The Finance Department report was prepared in a ~nner consistent with h~stor~cal cost f~nancial reportlng. Only actual revenues, expendltures and encu~rances (l.e. cash receipts and dlsbursements) as extracced from the C~tyls financlal records were used. Despite possible ~nference to the contrarJ, no representat~on was made concernlng any amount of fund balance that was avallable to spend. The term tlunencumbered fund balance" does not mean "unappro?riated fund balance". On the contrary, ln the absence of clearly exceSSlve actual revenues over ~ctual expendltures, any part of fund balance on ac lnterim basis could be consldered approprlated untll the City's Dudget cycle has run its course (i.e. the end of the flscal year). Analysis E~~~blts A and B reflect actual year-to-date revenues and eX?endltures coopared, ~here a?pl~cable, w~th annual bucigeted a~ounts. Since the ac~ual year-to-cate fig~res are for seven months only a~d t~e Dudget ~s for a Anol~ year, compar~sc~ can only be made on a relative basls. In ~k~ng such cc~parlson~ certaLn assump- tior-s need to be made. PrlITClpal assumpt~ons are: I ~!"'orwK""""'''' &Co e e Mr. Charles Kent ~cClain C~ty of Santa :funica April 3, 1981 I. ... That the budget was prepared on ~agement's illOst conS~SL2nt and best analysis of tue forthcoming year (i.e. that ant~c~- pated revenues were not overly conservat~ve in the~r estimat~on while ant~cipated expenditures were not unduly over-est~mated in order to prepare the most conservative budget eSL~mate poss~b1e. ) L~at revenues and expenditures occur more-or-less evenly throughout the year. For example, ~n analyz~ng Exhib~t B and consider~ng tue assumpt~ons above, one ~gnt conclude that w~th 7(12ths of the year completed (58.3%), General Fund revenues were approxi~ately 2% beh~nd ~udget (58.3% or the year gone, less 56.2% of budget revenues collected year-to-date equals a def~clt of approximately 2%). On the General Fund expend~tures s~de, w~e same analysis reveals a ~avorable var~ance o~ actual expenditures to estinated expencltures of appro:~~ately i%. PrO]ectlon of the percentage varlances to a comparable dollar amount would result in a favorable varlance of roughly $2,000,000. Obv~ously. at thlS tl~e no one would be w~ll~ng to state that the City's General Flliid wlll enJoy such a zavorable variance at year end. Accordlngly, thlS ty?e of analYS1S 15, of course, suo]ect to great s~eptlc~sO and ~erely pOlnts out t~e lmpreclse nature of such ln~er~~ CO'1l.parlsons. Fro~ an accountlng point of view, the analyses prepared by the Flnance Depart~en: are structurally sound. The presentat~on aSSUmlng the inherent correctness of ~~e underlying data, 1S theoretlcally correct; however. muc~ could be done to ~prove the interpretation!termlnology of the lnforwatlon contalned therein. Speciflc Comments - Councilman Scott's Anal/sls Councilm~n Perry Scott analyzed the City's January fi~anclal statement 1U cons~derable deta~l. A~ a result of hlS analysls, several key quest10ns were =a~sed that management should interpret for the City Councll. ~r. Scott correctly points cut that based ~pon the inIor.nat~an presented, on a budgetary Qasis, that the General Fund is i~ a deficit poslt~on of ap?roxl~aLely 51.2 mill~on at January 31, 1981. calculated as =ollows: 'Gnappropr~ated, unreserved fund balance at July I, 1980 Add: Revlsed Est~ated Revenues (~udget) Less: Rev~sed 2sti:nated Expend~tu.res (budget) PrOJected de=ic~~ $ ~,569.734 30,633,605 ( 6,'::"';)5.560) S 1.202,321) J:"'!'Ia<V>1Ck.M'I<M &Ca e e ~r. C~arles Kant McClain City of Santa Xonica Apr~l 3, 1981 5 Councilman Scott also points out that the Cicy has rese~Ted portions of its beginnlng General Fund ~alance for speciflc purposes. It should be noted, how- ever, that such reserJes were established to reflect conservative ~unic~pal finance practices and the purposes for which these reserves were eSLablished may never be realized or may be realized for considerably lesser amounts. In essence, they represent contingencies that ~ay never occur. Such contingencies are explained in note 2 to the Finance Department's January financial statements. ~. Scott makes two comparisons WhlCh seek to 11lust~ate the fact that the City'S Finance Department has overstated lts available ~und balance. Such c.alculations eith.ar compare a J.}rojected. budget derlCl.t: computed on a "pure" budgetary basis or make projected budget deflcit USing a combinat~on of year- to-date actual and budgeted amoun~s as follows: "Budgetary :3asislI "ComDlnat:l.On 13a51s" Estimated revenues L.aS5 Estimated expendltures Cu=rent yea~ operatlng def~cit Add Begl~ning unappropriated fund balance $30,533,605 36,405,660 Sstl~ated revenues Less year-to-date revenues .5,772,05.5 4~569,734 Estimated expenditures Less year-to-date expenditure PrOjected ~et General Fend budge t de fl. c.i t S (1,20 2 ,321) Current year operat:l.ng deficlt calculated DY Council~n Scott Add beglnning unappro- priated fund balance Projected Net General Fund budget sur?lus s 30,633,605 17,217,3L..3 13,!.16,260 36,405,660 IBI57L,67S 17,830,985 $ 4,414,726 l+,569,73!.:. S 155,009 Js suggested earlier in this letter and pointed out above, the Clty has on prOjected basis and conSlder:.ng se..,e~ ::J.onths or actual operat:.ons, "eliminatea" the lultJ..al projected budgetary oasls deficit. Obvlously the projec.ted budget deflci: 15 suoJect to wide var:.ation as actual results become known. :'he tem "f:md balancer" ~,jhen used. in t~e context of the analysis above, ::::mS:: be pref1xed by several quallfYiug terms 50 as not to ccnfGse the te~ ~l~h sense of the captlon as used by the Clty'S staff. Wnen vle~ed In perspec::~~e. ~~e ter7S used ~y the C~ty's staff and the City CounCil are qUite uliferent and cer~alnly descr~be entlrely differens clrcumstances. I;..~ M<uw<k.:>I>t<hdl&Ca Mr. Cnarles Kent McCla~n City of Santa Monica April 3, 1981 6 It e Conclusion In sl~ary, Doth the City!s staif and Mr. ScotL'S analyses are correct wlth~n the l~~ted ranges of their respectlve work. However, such analyses are ~n- conS1SLent ~n their approach as follows: Staff Report , Strengths BaS1c format conslstent ~lth generally accepted accountlng princlples. Easy to follow flaw and such expanded Co show comparative format capable of belug analysis, proJec~sioas. ei:c. i';eaknesses little dlscussion and analysis of "what the numbers ::neanll and lim1ted informatlve dlsclosure. Possibly ~mproper ~sage of terillS (~.e. fallure to clarlfy that e:J.ding "lli"1.encunbered fund balance" ;.las net of S?eC~flC reServes and may not ~e available for approprlatlcn). Contalns no projectlon or lndlcatlon 0: what ~ght be likely to happen in the future. Councilman Scott's Re~ort Strengths Raises the essential concern that the City may not have lTexcass funds II to spend for ne,,; programs unless all a1ternatlves (i.e. cutbacks in other areas) are cons~dered. Ralses 1egltimate, va1~d ~nagerial quest~ons whlch ~ust be answered if the Clty is to f~~ction effect~vely. Provides an nearly warn~ng signal" for both CouncJ.l and staff upon whJ.cn to focus attention. Heaknesses Does not fully couslder actual operat~ons and any ",;nck'..lp" of actual operations vs. budgeted amounts, If any. Th~s approach places more empnasis on budgetarJ context of "fund oalance". Analysls ?erformed assenc.ally reflect:s status of City at ~~ly 1. 1980 updated for any aut~o~~zeci changes in the Clty'S budget t~rough January 31, 198:. SU~~ analysis ~eeds to be v~ewed lU context or actaal operatJ.ons ~n orde~ to Je truly conclus~ve. I ~tL"",,,-M"""1I &<:0. · :1r. Charles Kent ~1cClain City of Santa :mnica April 3, 1981 7 e Recommendations The following summary recommendations should be considered by Ci~y ~age~ent. Staff should be encouraged to prov~de Council w1th appropriate analysis and commentary concerning "what the nl1mhers m.ean". Such commentary should discuss known operating variances, reasons for unant1cipated expend1tures, etc. In prepar1ng such analysis, staff should be aware that the key cons1deration should be the understandab11ity or the analysis to a person ~ot 1ntimately fami11ar, but nevertheless concerned, with the details or the City's day-to-day f1nancial transact1ons. More attention should be devoted to comparison of budgeted vs. actual results. To the extent possible, the City's var1ances should be ant1c1- pated and brou~~t to the City Council's attention and d1scussed 1n the manner recommended in the preceding comment. Consistent terninology should be used throughout the monthly rinancial statements. Such te~~nology snould be prec~sely defined and understood by all part~es. Immediate changes in terIDlnology should be effected in order to clarify the i~press1ons that now eX1st concern1ng the availabil~ty of expandable resources witn~n the City of Santa Mon~ca. * * * * * I hope the foregoing has shed add1t~onal light on the concerns expressed by the City Counc1l. I shall be happy to discuss the contents of tn1s letter ar any other concerns you ~~y have at your convenience. Very tr~ly yours, PEAT, :'-!ARt.JICK. ~lI=CHE.LL ~ CO. 1 rv :J ~ tvt~~" TI~omas w. Snow, Pa~t~er TUS:HSK I ~!MMw1ck.MllChell&CQ e e Appendix A DI"TERL'1. REPORTS (Extracted from. Governmental Accoun.ting Aud1.ting and Financlal Reporting as Publlshed by The Municipal Flnance Off~cers ~~soc1.ation - Capyrlght 1980) Interim financial reports are comprlseci princlpally of statements that reflect current Ilnanclal posltlon at the end of a month or quarter and compare actual flnanclal results wlth budgetary est1.mates and ll~tatlons. for t~e ~onth or quarter and/or for the year to date. Interl~ reports typlcally are prepared primarily for internal use. Thus. they usually are prepared on ~he budgeta~; basis and often do not lnclude statements reportlng general fLxeci assets or general long-ter.n deb~. FL~THER. THEY :L~Y PROPERLY CO~TAI~ B(DGETARY OR CASH. FLOW PROJECTIONS AND OTHER INFORMATION DE.E-'fED PERTI}lE~""T TO EFfECTIVE HA.L~AGEME~T CONTROL DL'RING rrlE YEAR. (Emphasls added) The key criterla by which internal intarlm reports are evaluated are thelr relevance and usefulness for purposes of ~anagement control, wh~cn lnclude ?lann~ng future operatlons as well as evaluat~g current financlal sta~us and results to date. The Council (The ~atlonal CounCll on Gover~meTIcal Account~ng. an afflliate of ~FOA) encourages cont~~ual efforts ~o assure t~at accounting and related interlm lnformat~on properly serve ~anage~er.~ c~ncrol needs. Slnce nanagerial styles and percelved lnformat~on needs vary wldely. however. approprlate lnte~al lnteri~ report~ng ~s largely a ~tter of professlonal Judgment.... , I;..~ \1a"'~k.M ,t,h,II&Ca tit e Ap?endix 3 FORlffiL DE713ITION OF TEB}1S USED THROVGHOlJ'I' THE ACCOHPA..1\ftI}lG LETTER (Extracted from Governmental Account~ng Aud~tL~g and Financial ~epor~~ng as Publlshed by The ~un~cipal Finance Officers rlsSOClaClon - Copyright 1980) APPROPRD..:rIO~ . B L"DGET . ::NCm1BRA....\"CES. EX.P~""DIT1""RES . FUND BAI..Ai.'\C2. A legal autnorizatlon granted by a leglslatlve body to make expend~tures and Co incur obllgatlons for speciflc purposes. An approprlation 15 usually 11mited 10 amoune and as to the tlme wnen It may be ex?ended. A plan of flnanclal operation e~body~ng an est2mate of proposed expenditures ror a glven perlod and the proposed means of Iluanclng the~. Used without any mod1f1ert the term usually indicates a flnancial plan for a slngle :lscal year. The te~ "budget" is used 1U ti..ro senses 1n practlce. Sometlmes It deslgnaces the flnanclal plan ?resented to the approprlatlng body ror adoption ~.d somet~~es the plan finally approved oy that body. I~ ~5 usually necessarj to spec1fy ~hether the budget unde= conside~aticn lS prellmi~ary acd tentat~ve or wnerher It nas been approved oy the approprlatl~g body. COmmlt~ncs relaced to unperfo~ed (executo~:) contracts for goods or services. Decreases ln net rlnfu.clal resources. Expend~tures include current operatlng expenses wnich requlre the current or future use of net cu=renc assets. Debt servlce. and capltal outlays. Tue fund eq~ty or governmenta: runds and truse funas. ~ , e e JtJ{)- t?t?/ CITY OF SANTA MONICA ~J-- rp d PRESENTED TO CITY COUNCiL 73-C-S 5 DATE: June 5, 1973 TO: The Honorable City Council .... Af"'''''3 " .' 1 '~. \,",' , ; '-. : ~ '""'....... , TH\S ~Vi'UST aE IlETURN'ED TO THE C\TY CLERK'S OFn:.r: FOR filiNG. FROM: City Manager , , SUBJECT: Annual Audit The Council may recall that a firm to pe rform the annual audit has not as yet been selected. Pursuant to earher instructions of the C1.ty Counci]., 1\1r. Dituri soliClted accountmg firms in Santa Mon1.ca with respect to 'v/hether they would bid on the city work. The reBponse of these firms was outhned 1.n a communicatl.On from Mr. Ditur1. on April 24, 1973. It would, therefore, be appropriate for the Council to make a flnal decislon In order that the cash counts and Inventory reviews can be performed by the firm selected on or about June 30. (A-- I /' '-.e.../ \ /"u>~ A ERR Y SCOTT City Manager PS:js cc: City Clerk Clty Attorney Dlrector of Finance attachments: June 4 memo from Finance Director Apnl 24 letter from Mr. Dituri 715 e e CllY OF SANTA MONICA It~TER-DEPARTMEr~T ~1Er\10 DATE Jnne 4, 1973 TO: Perry Scott, Clty Manaber FROM: Frar~~ Gaudio, Director of Finance SUBJECT Independent Audit Section 2516 of the City Charter reads as follows: "The City Council [;hall ei!Illoy, at the beginnin(; of each fiscal year, a qualiflec acco~~tfu~~ who, from tL~e to time, shall e~~ine the books, records, lnventories and reports of all officers and employes who receive, handle or disb~rse public funds and of such other offlcers, emplcyes OT departments as the Clty Council ~ay dlrect. At the end of the year, a final audit and report shall be submitted by such accofu!tant to the City CaUDell, one copy thereof to be distributed to each member, one to the City Manager, City Controller ~~d City Attorney, respectively, and tp~ee addltional coples to be placed on flle in the office of the City Clerk where they r~y be availacle for inspectlon by the general public. " As you knovl the City Council has I:a:r employed an Indepe:ldent auditor for 1.972-73 as yet. Hi th a cas!: count and a C01.U1t of ll1ventories at cur ware- houses to be supe~lised and/or cbse~ved by lndepenae:l~ auditors at the close of each flsCal year, it becomes so necessaFJ to enplcy same. I strongly urge calling this to the Council's attention so ve do not violate this section of the Charter. If ,...e don I t get auditors soon enougn for ta.l{i~g of inventories COTIllr.L(; up soon.. can. we at least hjre an audlting firm, with Council approval, just to do thlS for us? Ell iztuJw-- F. A. GAt.JDIO Director of Finance YAG/jS .... ...- ..----. :;~ . .J ~ '- .i. ;~I .C I T Y OF A -~.- CALIFORNIA April 24, 1973 TO: City Council SUBJECT: Annual Audit as requested by the CIty Council Accounting fams in Santa MonIca were solicited wIth respect to their Interest in biddmg on the annual au.dIt for the dty. Out of 27 letters maIled to CPAIS In Santa Monica, we receIved 12 answers- -4 positlve and 8 ne gabve as follows: Those indIcating they would bId on the work are: Henry A. Woolley, Mye:rson & Glass, Harry L. Nourse AudIt Co., and Robert P. Brogan. Thos'=." who indIcated they would not bid are: GIll &: Campbell, Hoegsted and Bushman, John B. Knight &: Company, E. J. Ritchie, Plumer and Whiting, Aaron TraIster, Harold WIlber, and L1ncoln O. Warman. Not answering: George Crandell & Co., J. Howard Culver, Arthur J. Dellinger, Herbert W. Eichen, Damel1. Fassenfelt, Samuel Fmkelberg, Henry Helnlan, Irving 1. LInka, Norman M. Lopez, David S. MaJ>s..-;,.vell, James B. Parr, RubensteIn, MartIn &: Co., N. Joel Rytsis, Edgar C. Steeves, and. AlVIn B. Walk. The federal and state tax deadlmes were Apnl 15 WhICh would indicate that the firms interested should have adequate personnel and tIme to devote to the proJect. As you know, In the past a natlOnally recognIzed accounting firm has performed the annual audIt for one year out of each four. The remainIng three years were performed by a local furn under contract WIth the Clty. Price Waterhouse and Company performed the annual audIt for the period ending June 30, 1972. If it IS the intentlOn of the CIty Cauncll to continue the one-year/three-year cycle between local and natJ.onal fIrms, It would be appropriate to select a local firm to perform the annual audIt for the three fIscal years endIng June 30, 1973, 74 & 75. /;. /) ~ //~/;~,-. / f/" /' - ,.i~ h/..---!~/ - C '- , _ "'- r ANTHO:-JY 'L. DITURI, CounCll':-can atta(hn1erLts: rt~bponses from local accountlng firms ~~X-A-M-I-N-~-T-I-O-N R-E-V-I-E-W C-O-M-H-E-N-T-S ~~N-D R-E-C-O-M-M-E-N-~-A-T-I-O-N-S AltnlL'J. P. IlOIT -.;r.... Pcb:.. A=,,"U1:l IUNCHRJOIDlSO'l FaEDoI.\N NlK A.oc:ouo""" HARRY L NOURSE AUDIT CO. SUITE 222 . PHONE EXBROOK 3.0471 ~ SANTA MONICA BOULEVARD SANTA MONICA, CALIFORNIA 90401 December 20~ 1971 Mr. Perry Scott City Manager City of Santa Monica City Hall Santa Monica~ California Under separate cover we have submitted a report on our examination of finan- cial statements of the City of Santa Monica for the fiscal year ended June 30, 1971, including our opinion on the statements, brief descriptive comments on fund accounts and information on major accounts reflected in the balance sheet. This report discloses the scope of our audit and comments concerning our find ings . ~cope of ExaminRtion Our examination was conducted by means of sampling and testing the City's accounting records and by inquiries directed to responsible City personnel, depositaries and others. Tests and samples established to our satisfaction substantial accuracy of accounts maintained by the City; however~ such tests would not necessarily disclose irregularities of immaterial amounts. The scope of our e~amlnation included, but was not limited to, the following procedures. Surprise cash counts were conducted in all operating departments where cash was received or disbursed. All change and petty cash funds were reconciled with amounts shown on the City's books at that time. Confirmation of cash in banks at June 3D, 1971 were obtained from all deposit~ries and balances reported were satisfactorily reconciled with City books at that date. Confirmations were also obtained for securities held and pledged by deposi- taries as collateral for cash on deposit. A complete count of all cash in the hands of City employees was made by our representatives and reconciled to control accounts as of June 30, 1971. We inspected United States Govern- ment bonds, municipal securities and stock certificates and reconciled our count to investments as reflected 1n control records as of June 30, 1971. During the fiscal year ended June 30, 1970 the Transportation Department inaugurated a program of accepting only exact fares from users of the system~ Since payment can be made only by cash or tokens it was necessary to estab- lish convenient points, such as banks and major department stores. where prospective riders could purchase tokens. Several methods are used to provide outlets yith tokens. We confirmed. by direct correspondence with the outlets, the status of their token account and reconciled all outlet accounts with records maintained by the City. We confirmed accounts receivable by direct correspondence with the debtor or by alternative audit procedures. Where material amounts were involved, we observed physical inventory counts and tested unit prices and extensions. Acquisitions of fixed assets were tested by examination of vendor's invoices. ~itle policies) City Council resolutions and other supporting documents. We determined on a test basis that bond interest coupons transmitted from ~he paying agent to the City were properly cancelled in accordance Yith established procedures. We reconciled bond redemption paycents by physi- cally inspecting the bonds redeemed. -2- We reviewed tbe operations of the Data Processing Center including programs presently being processed, progr~ms in the test and parallel stage, and systems in the analysis stage. The following progracs are currently pro- cessed: 1. Daily cash receipts from all departments. 2. Preparation of 2ccounts payable warrants. I .. 3. Inventories at the Central Warehouse, Water Department, and of office supplies are being maintained on a monthly basis. 4. Payroll checks and account distributions are being prepared for the Payroll Department together with summaries of accu- mulated vacation and sick leave. 5. Water and Refuse programs include billing for services, collection summaries, and required adjustments. 6. Citations, delinquent notices and warrants are prepared in connection with traffic tickets issued by the Police Depart- ment. An analysis of all calls for police help is su~rized by various categories for the Police Depart~nt administration. 7. Overdue notices are prepared for the Libraries. 8. Votes are counted and results tabulated for the City Clerk's office for all City of Santa Monica elections. The following programs are in the test and parallel stage: 1. Appropriations distribution ledger. 2. Encumbrance accounting procedures. 3. Job order recording and su~rizing. The following systems are now in the process of analysis: 1. Expansion of Water, Refuse and Police programs. 2. Integration of Personnel and Payroll departmental records and reports. 3. Maintenance of Transportation Department inventory on a monthly basis. It appears that the policy of careful analysis before progremming together with parallel testing of new with old procedures is sound and should result in fewer conversion problems when programs are ultimately released for regular processing. -3- ~ We tested dispensing of motor fuel and oil for City vehicles at the City Yards and Transportation Department. Insurance policies in force at the close of the fiscal year were examined as to type of risk and amount of coverage. However) no opinion is expressed as to adequacy of coverage in force. Revenues received from other governmental units were confirmed directly to US by the remitting agency. Other revenues recorded in various funds were tested as part of our regular review of operating departments and included reference to daily cash received records, applicetions for licenses and per- mits, ordinances,leases of City owned property, contracts for material and services, and minutes of the City Co~~cil. Expenditures made by the City were examined on a test basis and included an audit of a portion of paid vouchers and supporting documents. All charges were examined for compliance with budgetary provisions of Council action and proper account allocation. Invoices, requisitions) and receiving vouchers were reviewed to ascertain that prescribed procurement procedures were being foll~wed and discounts properly takeno Expenditures for personal services were reviewed for compliance with established procedures for acquisition of such services and for proper authorization for payreent. All leases negotiated by the City during the fiscal year ended June 30, 1971 were inspected. Our review was to determine that such leases are in com- pliance with Council action. A review of tl~ effectiveness of internal controls was made in all depart- ments examined. We also determined extent to which established policies and procedures were being followed by the various departments. -4- We also examined records and documents of Bay Cities Adjustment Company, an } agent for the City, in settlement of bodily injury and property damage claims. Examination was made to satisfy ourselves that complete releases had been ob- tained for settlements made and reserves for unsettled claims were adequate. We ascertained that monthly reports to the City were promptly made and proper accounting for City funds was attained. Cash records agreed with City records at June 30, 1971. Our examination of the Parking Authority included tests to determine that revenues and expenditures were properly allocated and that proper transfer of title for acquisitions by the Authority had been made. In the following section we will elaborate upon our findings during the course of our three year engagement and will make recommendations for your consider- ation. We are aware that the number and co~lexity of accounting records and the stringency of the controls imposed upoa financi~l transactions is limited by the availability of money and personnelt and that the decision as to the relative importance of a considerable number of desirable accounting and control refinements rest with the City Council, the City Manager, and the Finance Director. ~.ash Receipts Our examinations disclosed that cash collected by various departments of the City was being deposited within reasonable time limits except for the following: 1. Auditorium parking lot and concession reports have not been promptly completed after each event. 2. Contrary to resolution requirements) Auditorium rentals oc- casionally have not been collected prior to the event for which a permit was granted~ Our current examination dis- closed instances in which rental had not been collected in advance. -5- 3. In a prior examination during our surprise cash counts) we found three unauthorized withdrawals of funds by use of IOU chits. These varied in amount from ten to thirty dollars. The offending employee has since resigned from the City. 4. Several departments)or sub-divisions of departments) were not depositing cash receipts directly with the Treasurer's office. This practice results in some duplication of work at the departmental level. R-E~C-O-M-M-E-N-D-A-T-I-O-N-S 1. Finance Director's office should periodically test the time- liness of the parking lot and concession reports submitted by the Auditorium. 2. Require that rental for the Auditorium be collected prior to the event in co~pliance with Council action. 3. Withdrawals of funds by use of IOU chits should be discour- aged. The elimination of the practice of such withdrawals as well as the cashing of personal checks should be reviewed with all department heads and incorporated in orientation of new employees by the personnel department. 4. In order to reduce duplication of work, it would appear feasible to discuss with department heads the possibility of direct deposits to the Treasurer's office. Accounts Receivable - Uncollectible accounts in both the Utility and Revolving Service Funds have accumulated for a nunber of years for various reasons with no authorization to write-off these items. Over $70,000.00 was eh~ended during the past years by the Revolving Service Fund) primarily for damage to City property, for which reimbursement has not been received from either the parties 1n- volved or from the General Fund. R-E-C-O-M-M-E-N-D-A-T-I-O-N-S 1. We suggest that charges for space rental at the Harbor and Airport, due to curcumstances beyond their control were made for a period after the tenant had ceased to use the facility, be cancelled. 2. Consideration should be given to eliminating the uncol- lectible accounts of the Revolving Service Fund. -6- J Inventori~ Inventory control appears to be adequate except that lists are not main- tained for recovered or obsolete items in the Water Department. R-E-C-O-M-M-E-N-D-ft-T-I-O-N 1. Provide an inventory control of Water Department recovered and obsolete items. ~!~ed A~sets Except for Airport. Transportation and Water Utility Funds, and the Parking Authority, proper accounting for fixed assets to show acquisitions and de- let ions has not been provided. The deterrent to establish such a procedure is the cost involved to provide the historical activity. H~Jever, proper accounting is necessary for internal control and for complete financial reports. Inasmuch as the records fail to provide full disclosure,exception to the financial position must be t~ken in that regard. R-E-C-O-M-M-E-N-D-A-T-I-O-N-S 1. Delegate the authority and responsibility to verify the equip- ment records in various departments of the City. 2. Consider establishing General Fixed ~sset group of accounts and related acceptable accounting procedures. 1911 Bond Act Funds Over a nunber of years the City has collected certain bond payments including interest and penalties under the 1911 Bond Act. However, some of the paid bonds have never been presented for payment. R-E-C-O-M-M-E-N-D-A-T-I-o-n J , 1. While the amount of money involved in unredeemed bond pay- ments is small, it would appear that clearance of the old amounts held in trust deserves consideration. -7- General Records 1 '-'The gtmera'l ~lccounts of the City, including the over-all financial tran- sa.ctions, have been maintained iu a commendable manner and in accordance with legal and budgetary requirements. Howe.ver, there appears to be an increasing need for a uniform accounting instruction manual for use by departmental personnel. Expansion of the functions of the Data Processing Center will further increase such a need. ~-E-C-O-M-M-E-N-D-A-T-I-O-N 1. Consideration should be given to providing written account- ing procedures for all personnel responsible for reporting financial transactions. We ~ish to express our appreciation for the cooperation and courtesies ex- tended to our representatives by the personnel of each department during the course of our examinations. HARRY L. NOURSE AUDIT COHPP.NY .'----7 ~~/ .----......., ;: -' -0/> -r . , - , , ' - ~ '- . -- ~. ,,-:;; . . ~-1/:rJ?3~ ~ - 1 '.~ / -1~o -~:f.tifLfe~ /p-ubii~- .li-c~~~ant -8- 11 I I CITY OF SArITA MONICA FINANCIAL STATEMENT I TABLE OF COKT&~TS I CITY FUNDS Opinion of independent accountants ... ....... ...."... ........ ............ I Notes to financial statements .'" ................ ........ ...... Combined balance sheet (lnclu0ing Parking Authority) I Investment securitl€s ..... .... ..... ...... .." ............. ... ............. I General government revenues, cxpcnditQ~es and fund balances Gene:rcl. :FUnd I Balance sheet .. "... ~'" I- ............. .............. ... ...... ....... ...... AnalysIs of changes in fund "balance .. ......~.,.. .......;1 ..... ............ I Statement 0: revenue - estinated a~d actual ......."............. I Statement of expendlt~res and encQ~brances compared wi th author 1 zations .. .. ... .. .. .. e .. .. .. . ~ .. .. .. .. .. .. . .. .. .. .. ... . .. .. .. .. .. .. .. . .. .. .. .. .. .. .. .. .. Special Revenue Funds I Music 1 Advertl sing and Recreatl.on oil ........,.,..... .............,...... I Planning ... ..... ........ ........ ............,........ ..... .... ..... ..... ... ... Llbrarles oil.... .............. ... ....... ...".... ~...... ..... ...... 011...' I Welfare ...... ......."... ,-.. .".............. ........ ................... Park oil....... ".. ...... II ........ ............. ......................... I Retirement I General Obligation Debt Service Funds oil...... oil.. ............... ..... Capital lllprovement .11 ."..... 011,,_.. ................ ...... ............ I Sel f - In S'lranc e ........ -........ ............. ............. ...... oil.. I 1 I Page 1 2 6 8 12 17 18 J-9 21 22 25 27 29 30 32 34 37 38 I I I Special Revenue Funds On Street Parking Meter Traffic Safety I I State Special Gas Tax County Special Road Special Aviation I I A1rport Development Weed Abatement I Capital ProJects Funds General Obligation Bonds 1967 Water Revenue Bond Utility Funds Airport Operating I I I Airport Depreciation I Transportation Operating ......... .,....... .... .... ................" ill ........ ... .............................. ........ . ........... ....... ... .... ......... ............ .... ........ ..... ....... .................... ..... ill . ..... ..111......... ....... ........ ....... ... ..... .... .......... ."'.... ........... ........ ..... 0... ... ill...."............"... ........................................... ........ ....... ................ ...... ........ ....... ... .......... ... ,... ... ...... ...... .. ................... ........................ .." .. .........,. ....... ...... .... ..... ......... ...... ... ........ "... ..... ............ ..... I Transportation Depreciation Ce~etery Operating ,,,rater Operating I . .......... ...... ................... .-.................. ... III.. of;.. ._... .... III...... III ........"...- . ....... .... ..... ..... ...... .... ........... .......... .... 1967 Water Revenue Bonds Redemption Schedule Water Depreciation I .. ........ ........ ... ....... .... ."...... ........ ............ ..... I General Service Revolving Fund Prepaid Insurance I I I ...".... ............. ..... ......... ....... ...... ............. ..... ............... ... .....fIo 11 Page 39 40 41 43 45 45 46 47 48 49 52 53 55 56 57 59 60 61 62 I I I Trust and Agency Funds Page I Cemetery Perpetu.al Care .'r..............................................,. 63 Miscellan.eous ~st .. .. . . .. .. . .. .. . It . .. . . 41 . . . " It . . . . .. .. .. . . .. . .. . .. .. .. .. . . .. . .. . 64 I 1911 Act Special Assessment Funds .............................. 65 I General Bonded Debt Group of Accounts .............................. 66 Bond Interest and Fedemptlon Schedule .......................... 67 I PARKTI1G AUTHO~ITY FUNDS Opinion of independent accountants ................................. 68 I Notes to financial statements ..... ...... ...."........ .......... .......... 69 I Combined fund balance sheet . ............ ....... ..................""... 71 I Comblned fund state~ent of revenue, expenditures and cha.nges in fu..."1d ba.1ance .. . . . .. .. .. .. .. . .. .. .. .. .. . . " .. . .. .. .. .. . .. .. .. . .. .. . .. .. . . . .. .. . . . 72 Operating revenues and expenses .......................... III................"... 73 I SUPPLEMENT1l.>\Y FINANCIAL INFORHATION Self-Insurance Funds operations statements .. ....................... ... 75 I On Street Parking Meter Fund I Receipts ~~d disbursements .... ... ..... ....... ..................".. 79 Gross revenues by location 80 I Improvements to parking areas schedule ..... ......................... 81 Parking Authority I Receipts and disbursements ..........~....... ....... -............. -.............. 82 I I I Hi I I ARTHUR. F !tOrT c..cl..d Ploh[,,; Aca>a"UOt JLA.>.;CHl':JOIiNSO'l" Fa"~A-"~ ,..bhc Aml""UDt I HARRY L. NOURSE AUDIT CO. I SUITE 222 . PHOXE EXBROOK 3-0471 409 SAI'<'TA. l>10~ICA BOULEVARD SANTA MONICA, CALlFOR~IA 90401 I Decewher 201 1971 I I To the City Council of The City of Santa ~ronica I I I We have examined the stateQents appearing on pages 2 through 67 of this re- port. consisting of balance sheets of the various funds of the City of Santa Monica at June 30. 1971 and the related statements of revenues. expenditures and changes in fund balances for the year then ended. Our examination w~s made in accordance with generally accepted auditing standards and p-ccording1y included such tests of the accounting records and such other auditing pro- cedures as we considered necessary in the circumstances. except that our examination did not include tests of historic21 costs of fixed assets. other than those of the Transportation Operating Fund, because co~plete records were not available. I I In our opinion, the financial statements of the General Fund, Special ~evenue Funds, Capital Projects Funds. Transportation Operating and Deprecietion Funds, General Service Revolving Fund, Trust and tgency Funds and the General Bond~d Debt group of accounts present fairly the financial position of such funds at June 30t 1971 and the results of their tr~nsactions for the year then ended, in confor~ity with generally accepted accounting principles applied on a basis consistent with that of the preceding yeC'x. Ho...rever. because of the omission of generC'l fixed assets in the acconpanying statements. and the method of accounting for fixed assets and depreciation. we are unable to express an opinion on the accompanying state~nts of the Airport Operation and Depre- ciation Funds, Water Operating and Depreciation Funds, and the Cemetery Fund at June 30. 1971. I I I . HARRY L. NOURSE AUDIT COMPANY I ----:r ---- , . ~ / ,'---- -- ~/ _ _~/7 //;~~t^ _, ~-(y/ Certified Pub1ic -~oUntant I -j I I I -1- I I I I I I I I I I I I I I I I I I I CITY OF SANTA I>lO~ICA NOTES TO FnlANCIAL STATEMENTS -NOTE 1 - Financing of City Functions Flnancing of City activities is under the direct control of the City Council. Revenues are provlded from varlOUS taxes, including a general property tax, sales tax, and other speclal taxes and llcenses; by operation of p~blic utilitles such as transportatlon, water, and cemetery departments; by subsidiary aid iro~ State and ?ederal governments; and by gifts to the Clty WhlCh may be restrlcted or U?restricted as to use. NOTE 2 - Accounting for Financial Transactions The budget, WhlCh 15 a~~ually ado~ted by the City Council, is a general outline for financing the City and projectlng operating costs for the year. The Clty Controller is responsible to the Clty hanager for the proper accounting for all revenues and expenultures and the preparation of requlred financial reports. The accounts of the City are Maintained on a modified accrual basis of accountlng and in accordance with a balanced hh,d prlDciple of governmental accountlng. Revenues are generally recorded in the eccounts upon receipt of r~nittances. Expendltures are recorded when the llabjllty for materials or services received by the Clty has been prorerly authent1cated. The Clty follows the practice of encumber2ng approprlatlons when an oreer is placed with a vendor or ~hen a prOJect 18 started, thereby restricting the flli~ds until such time as the expenditure is made. It is the policy of tbe City to restr1ct unappropriated fund balances for any excess of budgeted expenditures over budgeted revenues of the subsequent year. Fund balances are also reserved for encumbral'1.ces at the fiscal year end. Approp~iat1ons shown 1n the accompanying financlal statements include enc~~brances at June 30, 1971, appropriat~ons edopted 1n the 1970-71 budget, and addittonal appropriations made by the Counc11 throughout the current year. NOTE 3 - Fund Classifications and Description Revenues received by the Clty are from various sources, sane of which have definlte restrlctlons as to use. It 1S therefore necessary to classify and account separately for such restricted a~ount. The City of Santa Monlca maintalns the f~~d system of accounting for recording its financial activities. The major classifications of funds used at the present time are: -2- I I NOTE 3 - Fund Classifications and Description (Continued) I (1) General Fund - The General Fund reflects the transactions of the no~,al gover~~ental activitles of the C1ty including administrative, pollce and fire protection, personnel acquisition, refuse collection, and IDalntenance of public facilitles. Revenues for this fund are derived from the City's taxing and licensing powers, from net revenues of City owned utilltles ~qd fro~ charges for current services and use of money and property. I I I I (2) Special Revenue Funns - Speclal revenue funds reflect finan~ial transactlons 1n whlch the use of revenues 1S restricted to a particular use. Revenues are providec princlpallJ by a opeClal ~~~ levy, r~ve~ae pruuuclng activitles of the indivldual funds, allocatlons from other gover~~ental unlts and charges to other f~~ds for servlces. I (3) Capital Pro:ects FunDS and Belated ~~ds - Capital projects funds acco~~t for the resources recelved fro~ the sale of bonds and the subsequent expendl~ure of these resources for the purpose for WhlCh the bonds were lnitlally author1zed. As interest on the bonds becomes due and payable and the bonds mature, the cash necessary to satisfy these obliga- tions is accQ~ulated In the General Cbl1gation Debt Service Funds. The City1s tax levy is designated by annual ord1nance to provide for a portion of these requirenents. The General Bonded D2bt group of &cco~~ts is used to record all of the general long term lndebtedness of the City lncludlng the lnterest obligation as well. The grQUp1TIg dlscloses the total amount necessarJ to provide for retirement of the indebtedness. I I I I I (4) Utillty Operat1~s &~d Depreciatlon Funds - Utility operating funds ac~ow~t for ln20me and expenses of Clty o~ed and operated public utlllties, and are ~alntained 1n a mar~~er simllar to that of a private enterprise. Net operati~~ gain, after provislon for deprec~ation &~d other contir.gencles, lS annually transferred to the General Fund. Arlllually Ch~ amount of cash has ceen trans~erred from tne Alrport, ~ater, and Transportat~on Operatlng Funds to accQ~alate the nonles necessary for replace~ents, bette~ent or extension of the plant and equipment of these utilities. I I (5) General Service Revolving ~Jnd - ThIS fUnd, also referred to as a worklng capltal fund, provldes for the accounti~~ of Internal services within the varIOUS depar~~ents of the City and ~or the allocation of cost of the serv1ces provided to the departments benefited. I I (6) Trust and A~ency Funds - Under certaln circumstances the City acts as trustee or a0ent for monles recelved and dlsbursed. Accountlng for such activitles is done by the use of Trust and Agency Funds in accordance wlth speciflc governlng regulatlons. I I -3- I I I I I I I I I I I I I I I I I I I NOTE 3 - Fund Classifications and Description (Continued) (7) Special Assessment Funds - These funds, while generally classifled under Trust and Agency Funds, have the speclal fUnction of accountIng for the collectIon of assessments levied agalnst property owners for i~provements which dlrectly benefit the O"HUerIS property. These funds also account for repayr.ent of the bonds issued to finance the improvements. nOTE 4 - Cash Cash as shown in the financial statements at June 30, 1971 consisted of: CIty of S~~ta Monica Demand deposit accounts Interest bearing accounts Undeposited cash on h~~d Petty cash in offices Change fund &> 172,868 8,977,617 32,108 1,99:) 11500 Total $9(18~,08~ Parking Authority Demand deposl.t a:::counts Interest bear~ng accounts Change fund $ 94,088 1,448,610 l,hBO Total &>11544,17~ City funds on deposit in the various ban~s during the year have been guaranteed by collateral securities as required by State law, except for the funds O~ depOSIt with the Chase-Manhattan Bank of Nev York who acts as paying agent for bond and coupon rede~ptlons. NOTE 5 - Investments Investments are controlled by the City Council, and are made primarily for t~o obJectives. One purpose is to obtaIn additIonal revenue on s~ort term acc~~ulatIo~s of cash. Investments of this natvre consis~ of term depOSIts, and U.S. Treasury bills and notes with short maturIty dates, and are classified in this report as Cash on Hand. The other purpose lS to safely invest funds which will not be needed withIn a relatIvely short perIod of tine, cut Which wlll provide ~~ture anticlpated Inco~e for a fund such as the Ce~etery Perpetual Care Fund. Greater dIversifIcation of Investments has been made for the latter purpose and Includes not only gO',ferp_'T.ental borjds but pr ivate bonds and cor.unon stocks. A detail of Investments held by the CIty at June 30, 1971 IS presented on pages 8, 9, 10 and 11. -4- I I I I I I I I I I I I I I I I I I I NOTE 6 - Fixed Assets Funds designed to provide un accountlng for the acquisition and retirement of fixed assets of a City are kno~n as the General Flxed Asset Group of accounts. The City of Santa Monica's fixed assets are not included in the accompanYlng financlal statements due to the lack of sufficient accounting information relative to these assets. Fixed assets are shown in the financlal statements of the Airport, Transportation, and Water Operating Funds; except for Transportatjon, accounting inforr~tion has not been accumulated which would provide adjust- ments for slgnlflcant retlrements and abandOllinents o~ the assets. Deprecia- tion has been recognized in the \ffiter Department on an estimated basls, whlle depreciation in the Airport and Transportatlon Departnents has been based on a useful life premlse. KOTE 7 - Parklllg Authority The Parking Authority was created by the City Co~ncil pursuant to enabllng legislation of the Stete of Californlu. While a separate oplnion is provided in t~is report, the balance sheet lte~s were included ln the comblned balan~e sheet of the City, since the City COQ~cll also acts as the Parking Authority, and the financlal transactions are accounted for by Clty personnel. NOTE 8 - Retlrement Plans Substantially all City employees are members of the Public Employees' Retirenent Syste~ of the State of Callfornia fu~d benefits are flli~ded by City and employee contributlons. The City's contributlons for the year ended June 38, 1971 totaled $1,153,595. N01~ 9 - Contingent Liabilities Our examination disclosed that a number of law suits and clat~s were filed against the Clty in connection with the operation of the Airport. As of thlS report date, clalffis for property value damage and bodlly injury in excess of $5,000,000 have been flIed. It is the oplnlon of the City legal department that these claims will not be enforceable; therefore, no liabillty or reservation of surplus has been recorded on the books of account. -5- I I I I I I I I I I I I I I I I I I I CITY OF SANTA MONICA CITJ ASSEI'S A..1Iffi OTHER DEB: Cash On hand and in banks Petty cash f\l1ld Change funds Total (Note 4) Investments U.S. Goverr~ent bonds Corporate bonds Stocks Total (Note 5) Accounts and Note ReceiVl Accounts receivable Note receivable Reserve for losses Total Due from other Governmen Due from other Funds Inventorles Fixed Assets Fixed assets Reserve for depTeclati Total (Note 6) Other Assets Delinquent assessments Future assessments rec Prepaid insurance and Total Amount available and to for debt servlce on ge Amount available and to the retirement of reve Total As~ets and Other D Cash includes: Short te~ investments Federal Agency securit U.S. Treasury bills I I CITY OF SANTA MONICA CITY 0 I I LIABILITIES, RZSEF UNAPPrtOPRIA1~D TurITJ p. I I Ll.abill tles Accounts payable Accrued payroll Revenue collected in ad Matured bonds payable Matured interest payabl Water conSlli~er and othe Special assess~ent pena Unsettled claims U~~atured bonds, intere General obllgation bc Revenue bonds pa;yable Special assessment bc Interest on general c Interest & preml~ or Total L~abllities I I I I Due to General Fund I Reserves 1971-72 budget EncurnbTan~es Debt service Contributlon fron Gener Inventories Prepaid insurance Note receivable Fixed assets Fare redemption ch~~e Total Reserves (Note 2) I I I Unapp~oprlated Fund Balar Retained Earnir~s Unappropriated fund bal Unapproprlated retainec Total (Hate 2) I I Total Liabilities, Reser> Unapproprlated ~~nd Balar Retained Earnlngs I I I I CITY OF SA.~TA MONICA I-~~ I II General Fund I I I II Capital I~provcmcnt ~~d I I I I I I I Sel.'er of 19h8 Bond Fund I I II *Bonds split Into Funds I U.s. Savll:gs Bond "E" 1 - X20249633 u.s. Treas~y Pends, 1 - 94-097E 1 - 101-6>:3.J *4/1000 - 94-096F 2~1) ?otal General Fund U.S. ITcasury Eopds, 2t% *906/1000 - 9~-096F 1 - lOl-699K *1/2 - 101-700L 1 - 101-701A 1 - 385-508J 1 - 385-509K 1 - 345-507:1 1 - 345-508J 1 - 345-509K 1 - 18311, 1+1., 4 7092/5 (D~ each), 4% Total Capital Imprave~ent Fund Self-Insurance ?und u. S. Savinss Eond "R" 1 - X2J24964H 1 . U.S. Treasury Bo~ds. ~ *9/100 - 94-09SF *1/2 - 101-700L Total Sewer of 1948 Eond ~~d INVESTI.jillfr SE8URITIES JUNF 30, 1971 -8- FINANCIAL STATDmNT Due Par Value Current Book Value 10/1/71 $ 10,000 $ 10,000 12/15/72 " 100,000 100,0-::'J 400 200,002 " $210,400 S.?10 ,002 12/15/72 $ 90,600 " lOO,OaO It 50,000 " 100,000 " 10,000 It 10,000 It 10,000 11 10,000 ,. 10,000 8/1)/72 100,000 11 4,000 $493 823 . , $494,6JJ $~93,823 10/1/71 .5 10,000 $ 10,000 12/15/72 It $ 9,000 50 7000 ~ 5Q 874. Q_ '-1 i $ 59,000 .$ 58.874 ( Cont1nucd on next page I I I I I I I I I I I I I I I I I I- I CITY OF SANTA MONICA Fn~ANCIAL STAmmNT INVES'I}1E:;']' SECDSI'l'IES .:mr~ 30, 1971 Ceru:::tery Perpetual C['~e Fund Corpo::"ate Bonds Eeneflc~al Fin~~ce Co., 4S~ 20 - 226/21.).5 P,t~ro!~ns Corp., 4-5/8~ 1 - ?Jill))4 (HI) 1 - RB2J22 (19:'~), Reg:Lstereo. 1 - ::XS.J32 (lmn Colu,,,:':na Gas S;rster'l, 5-1/8% 9 - L2338J/l, :123383/9 Fore~ost-McKesson, Inc. 61- 1 - RB453, Re;lstered General Instrunents, 5% 2J - FJ125151/70, 1 - RX6452, ?eglstered House1:o1d F~nance Corp., h-3/Bi 15 - 1.137129/43 IlliLois ~e~lnal Railroad Co., 4-5/8~ 9 - 1"15103/4, r.15106/12 Internaticnal Mln~ral & Chemlcals, 4% 1 - RX331~5, Registered 1 - px4613, Feglstered Keystone Steel & Wlre Co., 5 - VJT071/75 4]4. 2,J ll;arbn ~'ariette.::;orp., 5-7/8% 30 - 1.:J~698/zr, Feblsterea Northern Illinols Gas Co., 4-5/8p 10 - ~.:23158/67 -9- Due Par Value 3/1/92 $ 20,000 5/1/94 30,000 6/1/86 9,OQO 6/15/94 20,000 10/1/92 30,OJO 7/1/87 15,000 12/1/87 9,000 1/1/91 10,000) 1/1/91 10,00:)) 10/1/81 5,000 4/15/92 30,000 7/1/85 10,OOa Current Book Value $ 19,815 32,834 9,019 20 , 466 24,202 14,963 9,054 18,581 5,038 29,662 10 J 080 Cont~nued on next page I CITY OF SANTA MONICA FINAnCIAL STATEMENT I IrNLsr~~~:.~-rr GEClJ'R:Cr!:~s I JUNE :}] 1 1.971 Ce:rrleter~.r Pe:rpcc.:lG 1 C3re fund N~be:r of S:'1&.res I CorT~rate Stocks (Co;~on ~~~ess noted) I Ac.i'::"c::; sogYap~'1 r.iul t tg::--apj CorporatIon ~er~can Cynrm~lc AEe~~cdn ~el~p~8ne end TeleGraph A"".~I (~'n-"'n""r.~r,) V -.J..... \........ "---..L- 1..:.-1.. ___....... Pan~<:.. of I~ew YOI':" Co:""'pany, Ine. Ch':l2~ !~ian:13t;~Bn liar t.'--a ~e ':G Fcfli ty Co::-::;x.1ll';en1 '-,h Lc5 SO!-. ::::ODpe.:lY Cont:nentcl Cil Co. 300 500 400 500 400 l,OJO 315 600 907 8JO 500 l,OJO 400 I I DO'!("T C~leY:lcal CO---y9n:r Feccr~ted Depar~TI2nt StoreE Ge:L8Y2.1 A~erlca~ ?ranspor~ I General ~le~tr~c Co~pany Ger...eral i.:ot ors Sorpc::'''atio~ GeL~r~ ~~l2?t8~e ~ ~lec~~oni~8 :orpor2tlcn G'~; 0_1 Cor~Q~at:on 1.,....1 rJ .....Y11"",;..t...1f......-.!"J 1 r:l~ I p..,...,i.---1.-..-r ~ ~_ r.-1A ~ /::;.O'rn,....,}.. ('";:)........oj{'-::-.Y"................:..) _~v _...L_..L.::'--..... ......_.J..;.J.___ --=----1.:'-1........l:'-... Lr~.:.'-" ~ -....-----6 .(;.........1.,;. .J.-.... '-_'-.....i.. -':::-.....i. Ka~s-c:r f~lD..:.-'.in-x.'l E.: :;l}e:'1:: ca1 Company (Freferred) Ken~ecott :OPp2~ Corpor8~~on Norttcr~ Ill~no~s Gas Co. (?ro~ CG~~or.wsalth Ld)(Pfd) Paclf:c G~s & ~lc~trlc CO~Dany I 50C) 622 2JD 200 hOO 10 308 412 600 1,2JO 400 650 500 500 332 321 325 20'J 500 622 400 500 I I Parr~ancle ~as~e~n PipclLne Ccmpuny Pet, Inc. C~as. Pflzer & Co:.ps~y, Incorporatec Ph~lllps Pc~rQle~1 Co~par~~ Purex Corporat:on, Ltd. Santa Fe Lndu3tr~es, Inc. Sears, Foetu~~ ~ Ccrr~pan:l Secur~ty Paclf:c ratlcnrrl E&~k of Los ~n~eles StanQ~rd ell o~ Callfornla I I I Standard Oll ~o~p~y (~ew TCilllD" 0 Tn~ (p.,..n+',",~~PC'\ ~~ , -L'~. ~~'--..:._." _ ) Tr.e Travelers Corporation Unlon~~erlca, Inc. Western 3a~coryOratlon Tv;estlnstous~ ::';lee~rJ c Te-yo~~"'Cr) '"-' ..i". L..P._.) I Total Corpora~e Stoc~s 17J324 I Total Ce~etery Perpetual Care ~~d I I *Prtce pald or co~puted to in~lude spli~s, sto~k diVIdends, and TIal~~plc purcnases of sa8e stock. I -11- Cost Total Cost per Share*" $60.12 $ 18,035 26.81 13, Lf06 57.57 23,030 81.82 LJ.o,912 57.00 22, Ben 43.27 Lj, 269 41.33 13,02; 34.16 20 ) 1- 98 51.41- 46,653 40.06 32,051 34.36 17,1&J 44.77 44,768 64.17 25,666 32.83 16,1.11;. 16.31 10,1~h 8r 00 17,3]6 o. -,v 95.lt9 19,097 30 . 5 ~+ 12,217 34.58 lO}649 23.81 9)809 41.00 24,593 17.36 20,827 22.08 8,832 26.48 17,212 29.34 14,668 43.78 21,889 28.65 9,511 57.97 18,6J9 69.58 22,613 91. 36 18,272 35.51;- 17,770 16.96 10, 5!L8 38.21 15 J 234 83.25 411626 $ 71 9 zt 1- 1 - LJ- ~>1 02Q ??9 <P 1 - , 1 -- I I I I I I I I I I I I I I I I I I I CITY OF S~~TA MONICA GENJi...'>\AL GCVERr~.ENT REVENUES 1970-71 VII. Char~es for CtITrent Services Weed cleaning assessments Parking & ~~siness Improvement District Assess:l1ent #1 Parklr~ & Business li.provement Dlstrlct Assessment #2 Parkll"lg structures monthly fees Pound fees Resurfacing utility cuts - net Buildlr~ lTIvestigation fees Special police services Exa~lnatlcn fees Garbase and refuse collection fees Dump use :fees Map, speclfication, and publication sales Recreation and Parks: !larbor revenues $ 40,290 Swi=m:ing pool receipts 30,076 Sports, special events and craft classes 29,849 City-op~rated beach parking lots 387,896 Leased beach parklr~ lots and concessions 89,572 Park lights 3,454 Rifle r~~ge 3,661 RecreatIon and Parks buildlng rentals 3,370 Other Park rentals and concessions 1,152 Clvic Auditori~, 3411484 Zoning and variance fees Library fines and fees Services render 3d - utilities VIII. Other Revenue Sale of real and personal property Utility enterprlse co~tributions (net) Donations ~~d contributions Other Total Revenues -13- $ 14,020 322,977 36,389 25,512 7,091 32,575 730 17,581 663 857,691 8,557 1,795 930,804 7, 980 57,072 631851 l5,,975 442,702 8,061 48,739 FnlA..~CIAL STATKr,1TI~T $ 2,385,288 515,477 $~5,886,562 Percentage of Total Revenue 15 .0;' 3.2 100.0~ I I I I I I I I I I I I I I I I I I I CITY OF SANTA MONICA GENERAL GCVE:R]'J.n;-r~':' EXPT::rmITURES 1970-71 III. Public Works Engineer:p-g and aW1inistration Traffic e43ineering Traffic sl~ns and striping Streets, storm dralnsj street liD!J.t.LiiS hl.u.J.n Lt:L.i3I1Ce Parking facilities S~~ltary seuers & sewage disp~sal Waste collection ~~d disposal \-leed ele2.1iing City YardR ~aintenfulce Undistr~buted public works improvc~ent8 & equip~ent Total ~~blic Works rv. Real th V. Libraries VI. Welfare VII. Recreation end Parks Recreation and beach cleaning Harbor Parks Clvie Audjtorllli~ Beach parki~g lots Total Recreation &~d Parks Expense .t 258,108 28,700 180,811 1,077,953 646,459 261,863 783,581 19,019 31,476 3~288~ooO 240 -178 t 3~3. 3,700 837,765 104,329 624,259 232,226 84,246 QQ " Ituv2tb25 Capital Out1E\Y :$ 1,058 3,068 156,939 h3G,T97 15,09h T7 ,021 90,452 1,788 12..283 704 rl~"I --L~ 8,848 24,895 6,375 339,017 6,236 43t552 4::;D , 075 Total Expenditures $13,766,985 $1.830,181 ( - VIII. Fund Balance AdditLons - Net (Page 16) Total Expend~tures & Fund Balance Additions -15- FDfANCIAL 5TATEHEN'I' Total $ 259,166 31,768 337,750 1,514, '( 50 661,583 338,884 874,033 19,019 33,26~ 12,283 4 OR2 -, (' ~ u t ~;),) 240 Percentage of 'l'otal Expendltur~s 26.2~ 787~181 5.0 3,700 862,660 110,704 963,276 238,462 127,798 2 ~ 302, SKI0 $15~597,166 289,396 $15,886,56S 14.8 100.0~ I I I I I I I I I I I I I I I I I I I CI'l'Y OF Sl~'l'!.'A MONICA Cash (Note:! h) InvestT'le~ts at cost. U.S. Go,cr~~ent bonds (Kote 5) Accounts rece~vable Due from other funds: hTclfa~e Fund Traffic Safety Fund Total Ass~t.s Liabilities Acco\A!1t:s payable Accrued payroll Reserves (I~ote 2) Reserve for enc~~rances Reserve for 1971-72 budget Fund Balance GEr~AL I<1lIm B/1LPJ;CE SHEET JlmE 301 1971 Assets (PaGe 8) $ 676 _ 20 L-QJ~ Liabilities, Reserve and ltUnd E"'~a..nce $ 96,169 292,09~ 524,037 582,8Zl Total Liabilities, Reserves and Fund Balance *Includes: Certificate of deposit Federal Agency securities :$ 850,000 ~1.,15? 1...327 $)}.q,')~.327 -17- FIliAI'ICIAL STATE!rENT $3,040, 584r 210,002 71,959 20,676 $,3,. ;ll:3 L 22:1.:. $ 388,171 1,106,858 I, 81~8 r 192 $~} 31+ 1122!. I CrT! CF s!...,'.:rCA l~o~ncA - --- --------- - ---------- - - - -- -- - - - - - FIKARCI!~ STATn~~T I I G:~=:~'~R/L FlJ;"::j S?J-tT3..illrIT O}' F.Lv~"'FTE - E.Si~--'~.r..T~D .o-~TD A~'lrrJ!\L YEP2L =~'~l~:J lru:.~= ?-:; J )71 I I FroJer::;)' ~3X~S Curr~~~ - s~c~~ed I C-Ltrr~~t - tL't')2-eCUrec. D2]:n~~en~ - sc~ured 3Ld unsec~rcd Pe~dlt~eo an~ ~~terest Aircraf~ a~sess~en~s I I Otr.e~ L02al Tayes FraIl~b=se& Sales and use tayes Feal prop2Yty tran~fer taxes Trprls~ent O~C'..l~an::::y. taxes I Utl1i.ty tax B~slness lice~se tax I Ll~enses and PermlGS A..."l:'!ii.a1 l~c en": E:S B:.~;;rcle licenses Builc..lnc perm:.ts E1ectr:.cal ?e~its P1umbir:; :perT'llt.s Street a.'1d S~'Jer peITE-:s Other 1icc~ses and pe~its I I I Flnes, Forfcltures and Pena1tles ~luniclral Cour~ flnes I Fevenue fro~ Use of Money and Property Interest ln~ome Rents and concessions I I Revenue fro'n Other Agenc~es Trailer co~~h llcenses Federal aJd - c~vil defense I AlcohallC tevere;e licen3c fees State ci~are~~e tax apportlo~~ent State pr0p2rty tax reller Moto~ vehl~l~ In lleu State highway carrier 11~ense tax I I -19- Est::':",-;;ea. pc,renu~ Acttlal Excess O~ ( T1c7'l'~ -( en:.y) ~......~ ~_ .J. ~ RcyC''1U ~ $ 523,0')3 65,150 23,171 1,851j 27 . ("):J 6]~: '. ~73 .$ 529,462 68, 2JJ 16.535 1, 9J3 h?235 656;310 6,h59 3,05C) (6,636) 54 15.235 ~5, 162 d- o.; 84, 5):) 86,361 1,861 2,323.07h 2,121,312 (an,762) 25,J}J 28,354 3,354 200,00J 208,lC9 8,109 970,JO::> 1,.055,3G6 85,386 47Q_JJJ 479,7'-;} 9,75) I n - "2----=-?'- 3 J 7n '-'~. _l2.3,2)3) .j. , ..J ( - J :;., I ... ,:;,,:J,C---..L 14,500 15, 223 723 9JO 1,J11:. 1,014 80,080 lo6,h79 26,479 3J , O~}J 32,h55 2,455 23,5:)0 h5,810 22,310 9,5:)0 10,O3!~ 534 a g",o 10.8r.:;8 1,058 16f3:?Z5 ' / 222,773 54,573 325,000 385,961 6::>,961 317,805 547,919 230,114 123,560 141. 7h2 18.182 4' 1 ~'>-c, 639;661 248;2J6 . 4 1 5o.~ 3,500 3,659 159 2,5JO 2,438 (62) 75,0:)0 90,396 15,396 525, OJ,) 529,938 4,938 128,778 12),342 572 655,278 668,238 4,960 994 9Jh 1 3r ~!..,. Dl? "1::(:: 27,007 , -..j J u~~ ~, ,v.// Contlnued on next pRge I CJ'I'Y OF ~:rI'A ~10~;ICA I G:= "I~R!L F1JI~:'" FJ]{ }\J!:! t\1.$ srr.l'~ TC r::~~T ---- - - - ---~ I sr:--!~'I3-'~rTr O? :CXr~r-iDI7"~JR~~S ~- Et~-:t.(~l ?!ii:~~~~, ~c~~r'1;'~~~2~D ~..TI~B: ftIJJ1HORIZ!J,.TIC:-JS 'Ylt'.!;R r:..~l~B? l.Tl;:JE 3"J, l3'71 Expendltu~es Transferred to Other ~Jnds: "ap~ +al r""T"'rovn-rp"'t (n",... .....7\ (.n.r.;:) t:::1~) 0'~...- -O-i-J-Y "--- .........J. .J.~~~ j ) '-"",)./,./........../ On st""ee+- T"a"":"'rl"T "",..- Q.,.. (Pa-'" ':<8) (2'""0 2'."') .... v l-" "':'_.L-"",,-- V Jl_....-.-..L. .... t;.--- J..../ C", ! _-J,j Si-a+e C"~s t~x {-c--,.." L--,\ (7 '-"'''') -.... v 6L. Ci... l. ~..4t"J~"" ..~ i , ),Jl.J Traffic safety (PaGe 1+0) rO:<'"35,O.:J-)) 1 L "? r-...) _ , '1 c:. . L -'- ") ( - I I Cit.~r COllr:C:ll CJ ty" l-':er:;:;.~"~!' Cl tJr ClE':'S. I:lectlon3 I LJ ccnse CtG:_:"ln..:.. stl"'a~.LOn I Accoantin~ Data ?ro~es3::.ng 'I'reasary Purc~asl~~ ~nd Stores Clty Atto::CLey Per.:;onnel City Ball Lu~Jd:ns Police prote~tion i\Y1.lT.1al :rc:;-AlotJ on Fire protec-:ion ~~ildin; ~eJulatlor. C1Vll deiense Engineel~~s & ?~olJC Works aC~lni s tratlon Traffic €n~lneer}n6 Par~tng fa~llltles Traffic s2Gns ana stTlp~ng Streets and C~O~ ~ra]ns Sa.Tl~ tary SE:"-rers Waste collce~ion ar.d disposal MlSC. ~~~jGtrl~uted mnint2nance P.ealth se:r-f.:ce All other I I I I I I I I I Total General Fund (Note 2) (P~Ge 18) I I I Arpro. p:rlatic7lf' at '-/'~,--, I~, o -.-J".J'-~ $ 15, hl~!. 73,23::> 8;) , ~tJ 11 , 3CQ 84,9::3 19.),70j 123,)35 59,31-1--1 65,677 179,;...-)L 8f, , 2:l ) 232.,].]9 3,02),515 46,391 1,85?,61L~ 211,365 8,139 299,754 37,375 697,2::'() 411},162 1,186,667 81),003 954,811 78,qC8 9CO 61h.6~6 11 4~ "'r;::-::: ...., .....O~j~..~ $10,036,15'3 -21- E^1?21~':ii - turcf $ 11+ J 2r~3 61,565 81,~36 13,lJ35 '(13,)65 187,056 123,635 )),lB2 61,1;.;.3 175, :;'01 75,67j 225,?;5 2,750 }:jjJ 43,027 1,6034233 17 T, 62) 5,3'36 259,15,:) 31~76B 6/''''''-~c;p...... O--L, /v 5 2661125 888,629 338,221. 874,0'33 4),546 2!j.t) 5J2,015 9, 695. 7'J) (355,2)3) (221,769) (7, 580 ) ~3:,C?O) 101-; "'~:>' ... /"""-..... " ./ ....1_/ ,.1,8 77C 1~8 ol> . I -~, :.;: '5 En~ur,- bran~eR at 6j?O in .., ~ I $ 19)~ 75 22 469 39 416 143 467 19,249 221,683 29 5,0 5:) 283 6,393 106,2)1 112,516 463,159 31,910 1,811 11 ,135 961,2:>9 (457,222) _JJ~)1, 222) $_5~4,037 UnenC'um- bered Eal'u:ce * 1,152 11,590 (1,018) (2,135) 6,336 2.378 353 4,159 4,1(J5 4,047 12,11-03 5,356 256,176 3,364 29, 648 33,716 2,8:; 3 35,538 5, 484 29,279 41,7),6 185,522 16,960 48,863 31, III 668 11.4q6 7131; 1109 (47,000) 1,569 ( ~~ 5 , lql) $ 73,2,978 I I I I I I I I I I I -I I I I I I I I 559,814 564,9]4 5,100 55,721 58,329 2,608 1),817 9,264 (10,553) 1,555 1,197 (38B) 189,000 341,484 152,48L. 1, 5~() 3,035 1,535 3,500 3,661 161 18,000 26,019 8,019 45,000 40, 290 (4,710) 15,000 16,703 1,703 14,000 13, 3~(3 (627) 2,616 2,616 7,90'? 3,564 (4.336) 930,837 1,084. !~49 153,612 $1,591.007 ~h752,187 $ 161,1['0 ---" --= CI~i OF S!L~~~rl ~,'C~IG~A BUSIC, ADVL:~ i~}J ..::; & FE,-;'~> '; ;"!:I HmD STA~D.E:r.;; r~}-" p~~v~::-_~:::: - E~~":-::-"-~-''''-i-l I~~D /tCIJ...\L r~JLR E:;r---':) ~T1JlJ~ ~~. 1 ~~-/1 - -..-" I - .- Est" )~2tE'G Revelm€;; Beach J\:2t..lV~ t.les FeY2:!C;.e fro"" U2.e of I1o::1ey a.'1d Prop,"rt.y L~t:~~r"d tcti~h rorkJ.llG lets and conc-e~"sions q, <,;> 77,372 Revel'ue fro::rl Other A,'en:::'::.es COLJ.nL:l o~ l,os P..r~:;,=les State ~;l'"ants 100,000 129,'798 CharLes for C1.]........r2~~ S=rrl~e:3 C l~Y o"!;:erated ben~~ pa:r::il~g lots S:ge~ lal e,\l"e;l~S 350,0';)0 2,000 Other Reve:ltle3 Sal~ of prcp~r~y DonRtlona and contrlbutlo~3 0-1 }-;....~-..... 'I.;.i....\...... II OCK) 660,170 Totel leach Ac~ivitles Up]anQ ~~tlv~tles Prop~:"L::.r t~xes CUr":!:'en-L - secu~ed Current - unse~ured Dcli~quent - se~~ed and unsecurea Penalt~es an~ in~erest CharGes for Current Servlces ClV1C h~dltorl,L~ Eall Part; R~fle Ra:l':;c Spe~lal evenls 1{<J,.T b or Llncoln S'~~~lJ0 Pool MunlClpal SWl~ulng Pool Other Pevenues Donations and contrlDations Othe~ Total Upl~~d Activities Total ~tJ51C, Advertlsins & Fecreation Fund RevcYlue (1;ot,c 1) (Page 22) -23- Fn;AN~IAL ST}\'lL~t'"_:.ST Actual Excess or (Def:!..C':: ~P_:::J Rc\rent~c :> 89,572 12, 2CU $ 100,000 91,455 (38,343) 32-0,977 3, 830 30, 9'7 1,830 119 250 1,,532- 667,738 119 250 535 7,563 I C' I~ OF S '\-'~':_j~ _ t~0!~!..~!~~-=-=---=-==~=-=,==~~~~~~ _~_~ I I HJ,r;!lFG YJr:rJ Ff~ J~]::-;:~:: S~=-~:.~ ~i=~ ~O 1 1~:71 I A~sct. I Casl: (r-~()t~ 4) I L.l~"h.~ 1:"?- ~ ~~'G ? -~ 2- n ,,(,.,:-r- p e r~ Ci ~-Li ~": r; B'" -r,^", '~-=-r~_.......... ~ I Li3'-t;ill.o.. 1':5 A.CCG:]ilt~ p~~rc.~le I l~ccrv~ rJ :pa~."'roll Feservc fo::" ::::n~U?;'2r~c:e~ (note 2) I Fund f:~, 1 aYl~ e Total L:'ubl1J tiL"~s, Peserve ar:d fune. E.als.n~e I I AIl.lili iSIS CF :::1: ~~~y-:;:::::S II-~ ?J!':JJ) ?;J~A;.~'~L Y~t~ ~:~~D J~03 ~J. 1 ')71 -.A..~ I ~eYcn~~ (?q~e 26) Expend~tur2~ (?a~e 26) I Excess 0: Peven'"e over Expendl t1.lres Decrease Ln ?esen'8 for EncQ~r,rances I Incre2se in Fund 3alfu~ce durln6 year Fund Ealance at June 30, 197Q I Fund Balance at June 30, 1971 I I I I -25- $ 21 2/(01 $ 71,070 62,01+7 FIli/J'~GI~ STlL'I-:-::~J~~ - - ------ do ");J !' 5::; tf ..J - 7~ ~ $ 2,722 73 f""\:} "'-~r'; .....!::2J 0':" J $ 3s.455 $ 9,023 50 9,073 20,587 $ 29,660 I C:!:Ti" 0~ St::.~~.:1 ~~ i}"():-!I~/~ I L T ~ ~--.: "tL~ Ii:.:) ~tr].) I 13J~L.i1~;::;:" t-;r:~,~-? Jl.~?!? 3:) ~ l:~,Tl I ACSE'1,C; I C2.sh ~LDte (TTO""p I,) ...I ~ ... ___ L..; re2€.J.v2,ble To:;?ll !\sscts I I Ljabllltics, Pcser<es and ::\!:1j F;:;}a1lce L 1 at. =-l: '-Ie s I ...~~CCU~lts }""j?:"o-"-:-i~J e l~cc!"UeG. f:2~:V roll I R.nC"tJ.,."..-:.;P~ (1'<{",! ~ 2) ....... ..... '-"" _ ~ '-" 0....: \ ... t - ~ \.".~ _ ?=se7~~ ioy cnc~~trznC~3 P0se~fe fur no~e rsceLvatle I Fund E3.1ar.l~e I Total Li~blll~les, Rese~ves and Fund Balan~e I AJ'UlLYSIS OF CF~',.l:GES ] n m:D B!li,AI:CE YEJL.q !:I.JD~:C 00;,~r: 3'J., l')/7l I R (n ~~\ . evenue ... a,--:8 c..'J) EA~CnGltureG (P~ge 25) E}:c:es~~ of E:X.De!ld~ "vures over Revenue I Decrease in Feserve for ~nc~oran~es I Decrease in Fund Balance dur~~~ year Fund Falan;ce at .June 30, 1970 I Fund Balance at June 30, 1971 I *Note rece~vable is securec oy deed of trust on old !faIn I,i:Jrary property, and is payable $13,500 a year. I I -27- FIlrA.!JC'rAI~ s~J\rr_~;~JT 5; 11,261 ~').9S5 -~ , 15,391 74,250 $758,322 7871181 $ 89, 21J 74, 25J ~, 63 I;I';J 4'~___~ $ 42,2~9 89,6~1 31,571 $163.h62- ( $(28,859) 4 . 8h 5_ (24,014 ) 55,585 $ 31,571 I eIr-x OF 3AFl'A llmnCt. I- I I I I I I t.:ELFA'\S FUND BAL.;r;~E SlEET JUX-~ ~~'J " 19'71 Liability, Feserve Fund Balance an.1 Due to General Fund Reserve for 1971-72 PU0get Fund Bala:1ce Total Liability, Peserve and Fund Balance I I I I I STNl'2.3IJ'T OF RKvENUE EXPENDITlB.E !.J.!D CF.AI;G~S IN F""i.J:m EALAi\'CE YEP.R E!m::::D mE: 30, 1971 Revenue (Note 1) Property Taxes: Current - tmse:::ured Delinquent - secured and unsecured PenalLJ..es and interest Expenditure (Note 2) Contribution to Family Service, Inc. Excess of Expenditure over Revenue Decrease in Reserve for Budget I I I I I I Decrease in Fund Balance during year Fund Ealance at June 30, 1970 Fund Balance at J~~e 30, 1971 -29- FLMWH.L STATf::l~J;T $ 1,675 256 25 .$ 676 ___. J67~) $ -0- $ -0- $ 1,956 3,700 (1,744) 676 (1,068) 1,068 $~~ I I I I I I I I I I I I I I I I I I I CITY OF SA!~'l'A 1tONICA P:'\A!~ FUND STATEMENT OF RE'n:~m~ - ES'i"lHNl'ED AnD AC'IU1-J" YEt.n E!1J~D JUNE 3~ 1 1~)7~ Estimated Fevenue Property Taxes Current - secured Current - unsecured Delinquc~t - secured and unsecured Pena1~les and interest $575,195 57,749 20,539 1,61.:.'3 Revenue from Use of Property Park rentals and concessions Re1ocatlon houslng - net 9:::>0 5,000 Charges for Current Services Metered park llghts 2, 200 Other Revenue Sale of real end personal property Other 2 800 , Total Park Fund Revenue (Note 1) (Page 30) $666,02~ STATD.fENT OF EXPENDI'I'UR.!:S AIID EI~CU:J:.1B3A..T\[CES Cm-1PARED WITH AU1'RORIZATIQr,S YEAR ENDED Jill;E 30, 1971 FIN,^JiCIAL STA'IT17NT Actual Revenue $580,577 60,452 12,172 1,426 1,486 4, 680 3,454 840 3,748 $668L~35 Excess or (]).cflciency} .$ 5,332 2,703 (8,367) (?17) 586 (320) 1,254 840 948 <l! 2,8:)2 't' Appro- Encum- priations brances UnencUJl1- at Expendi- at bered 6/30/71 tures 6/30/71 Balance Parks $1,038,784 $963,zr6 $ 62,374 $ 13,134 TranSferred to Capital Improvement Fund (Page 37) (343,260) (326,417) (13,540) (3,303) Total Park l''und (Note 2)(page 30) $ 695,524 $636,859 $ 48,834 $ 9,831 -31- I I I I I I I I I I I I I I I I I I I CITY OF SAHTA MONICA FINA"WIAL STA'l'E1ffi~T REl'Ill.Er.SI'~T FtIIW STAl'Dm1""T OF IIK....I'!;LiE - t:STIW"TED AND ACYJAL .Y:"'.2AR END:2:D ~Tu:m ")0, 1971_ Estimated Revenue Property 'Taxes Current - se~ured CUrrent - ~~secured Df.>] j n"uen't - seC'ur~o and 1mseC"lre"l Pen~tie3 &~d Int~re3t $817,328 77,695 27:632 2,211 Total Retuement Fund Revenue (Page 32) $924,866 STATEf.:EI.rr OF EXF~mI'IURSS COr!l'ARED WITH AlJTH03IZATIONS Y'~AB ElJ)ED ..HEir; 3D, 1971 Appro- uriations "- - Current service contrIbution Pn.or service contribution AdminIstrative and niscel1aneous Expenditure reImbursements .$1,228,503 1, 500 _(15,000) 1,215,003 Utility Enterprise Charges Airport Transportation Water (10,981) (170,785) (38,644) =C2ro, 410) $_994,593 Total Retirement Fund (Note 2) (Page 32) -33- Actual Revenue $824,690 81,331 2J .087 2, 'Z{6 $929,384 Expendi - tu:res $1,160,547 863 1,458 (9,273) 1,153,~95 $ 958,101 Excess or (Deficien~y) $ 7;362 3,636 (6;545) 65 $ -,-!~ , 518 Unexpence-:l BaJ n.[~{:: $ 67,;:56 (863) 42 (5,72:7) 61/40B (212) (22,822) (1,E82) _J24,916) $ 36,492 I I I I I I I I I I I I I I I I I I I I r-' ~ ........ i; 00 ~ 0\1 0'\[1 n tf\O I -~ :-1 I -, (Y) oj t--o 0 ~ll .-,: \.Dl.., ... " 1 f:-t 0\.0 \08 U) r-l ..-! H .-l ~ ~ -- .w- I H ~ ~ l ~ H t::l "...... ~ I ~ ~ 00 0 ~I Sg ciS . coo 0 ~I 11"\;;- " " " I 0\... ~S C\ rl GJ 0\ +> rl r-l I O:l -ffl- ........ ~ ::.:: I M ~Ql ~l ~I co ~I ,-tjl 0 rl L"\ 0 7; .-J kl t-- 0 (\j col c;,; cu ..; <"'1 ~:~I ~ ..-:1(.) ~1 \.0 ;1 ~II ~ LJ\~~ " " " C\~~ 00 ..:;t I .-I;:IV'J r-irl .-1.-1 .-l 0 ...... -.-I .-l ~ ~ ~ -{F,I- ~ I z H ~ ,-.. ,-.. {!) 00 ~ ~I .-I .-l l'4 ..... 00 [/) (Y) 0 \0.k r--o ........ I Z. \0.0 " " 0 I <t:.-l 0\ +:> .-l0 I ::I::t-- rl .t"i t'- 2:; CQ () C'. -0 rl O~ .-l :::l ~ ........ * H -- S <l; E-<f'::~ I ...t;~~ 0 D (Y"\ H[:::Jr;;) ~Or:::l~ p:;;-;.......~ 0:>8 .p F,E-<I-:! 'cl~ .- I ~ ,;~ H ~l COI NO ~ -=r ~ jll C0 i=: A p..~ 0\ '"" ~ ...-10 LI', ~ P-: ,~, a) ,-I <1.: ~ l.r\ IY'\ 0 (\j 01 ~ [-l r;:] p ...:t U >- " " .. ........ ~l ",.,,;:::::);1.,2:; O\'rl 0 r- rl .::r if'< ~ r~ >< t=::t ......~h LI'\. \0. O~r>:: ::;i p, I p:; ~~l -&o?/- -<A- ~ ...~ ~~ I ~ M Ul n::; '0 ~ rx.. e 0 H I 8 H ro ~ Q) V M .Q >> ~ .p 0 b!l ~ ~ 0 ..-! 0 .-l J +> rO l-i b;; b\ {!) g ,g rO .-l rl C) rx.. l-i't::l CV " .. HI:l+> () 0 ~ I ~ &: g ~ cY1 '^ c( ("i'"'J Ul E! t'l rl Q) Q) V ~bDQJ III ro s:: s:: H Q) s:: > k ~ ;:I ;:I ~ W l!J t........ 0 ;:I IJ IJ L1l tll 6 .-I.p.uf.< .p '0 I ..- PI Q) tV ~a:l dp.. ',-1 C .p .p x u ;:I III Pc~} s... fa 'd :s a5 oj <:J:; S III s:: r.:: Q)'rl V l!JH s:: rx.. ~ 0 ~..-I Q) lJ} H()HP< (I) tV Q) ~~ > lJ.1 GJ s:: ;:I 0 .-l ~ ~ () () ~ <t-l >,.u Q) H +=- ..., oj-:> a5 '.-1 a s:: (/} +> t" p::: ~~J....,-i~+-, ~~ L1l oj I '0 H \lJ ~> M Pc 'd 0 'ri ill ri ~ rx.. Q) Q) Q) H ';! rl s:: .J..) P. .-l Ul tS 0 ;j ::s p.. (JJ 'C'd'OQ)~Qj d 03 ~ s:: Q 0 ~ .p C s:: J:: P.~ U +> (JJ ~ ...... Q)~c. 0 III 0 0 X 0 ~i rO '0 +> > H E-t ~ P=l P=l ril E-t () s:: c s:: Q) s:: ~ ~ I H 0 p:; kl H U u -36- I I I I I I I I CITY OF S~~TA MONICA SELF-I~SURM~CE FL~rD BALM:CE SHEET Jm~ 30, 1971 Assets Cash (Note h) u.s. Govern;nent Bonds, at cost (Note 5) (PaGe 8) Total Assets Liabillties and Fund Balance 1i abili he s Accounts payable Estimated llability for unsettled claims (Pages 76, 77, 78) Fund Ealance I I Total LIabIlities and Fund Balance STA'IEMENT OF REVEWtJE EXPENDITt'RES Mm CI-L4.i'!GSS IIf FUIW BALA1l'CE YEP.R n;])ED JlHJE 30, 1971 I I I I I I I I I Revenue (l:ote 1) Insurance charges to other ~unds ExpendItures (Note 2) Cost of claIms on coverage obtained through self-insurance plan Insurance pre~iums on coverage obtained through prIvate carriers Prorated legal expense Fees to claIm adJusting servIce Other Excess of Revenue over ExpendItures Fund Balance at June 30, 1970 Fund Balance at June 30, 1971 FINM~CIPL STATEMF~T $ 50 105,950 3; 80, 904 46,581 17,700 19,800 7,296 $349,019* 10,000 $359,01~ $106,000 253,019 $359,019 $182,445 172,281 10,164 242,855 $253,019 The CIty r.aintaIns coverage with private carrlers ~or public liability ~~d property da~age claIms exceedlng $100,008 for operatlon of automotive equlpment; $15,000 involvlng operatlons of the bus lInes; $10,000 for liability arising out of the Publl~ LIabilIty Act of 1923. *Includes Short Tern u.s. Treasury bills Certlficate of Deposit $250,000 90 ,080 $3uO,OQO -38- I - - ----- I I I II Vehicle Code Fines receivable I I I I I I I I I I I I I I CITY OF SANTA MONICA FINANCIAL STATEMENT TRAFFIC SAnTY FLII\"D BALANCE SHEEr JUNE 30, 1971 Assets Cash (Note 4) Total Assets Liabillty and Fund Ealan~e Due to General Fund Fund Balan~e Total L~abi1ity and Fund Balance STATEMEI{T OF REVENUE EXPENDITURES AND CRANGES IN FUND BALANCE YEAR ENDED Jmn-~ 30, 1911 Revenue (Note 1) Californ18 Vehicle Code fines Expenditures (Note 2) Transferred from General Fund (Page 21) Street Dlvislon labor Street Dlvision supplies and expense $150,OClO 185,0:)0 Decrease in Fund Balance during year Fund Balance at June 30, 1970 Fund Balance at June 10, 1971 -1.0- $ 4,100 46, 280 * 50, 38Cl, $ 20,000 30, 380 $ 50,300 $289,588 335,000 (45,412) 75,792 $ 30, 380 I I I I I I I I I I I I I I I I I I I CrT! OF Sf~TA MONICA FINANCIAL STATEMENT STAT!:; SPZCIAL GAS 'LX.; YG'TID RECEIPrS AND DISEUHSEJ,1ENTS YEA.,.q ENBFD .JlJNE 30, 1971 Beginning Cash Balance in City Treasury at July 1, 1970 $ 930,529 Rec.eipts *Cash receipts fro~ State - Section 2107 Cash recelpts fro~ State - Section 2107.5 **Cash recelpts fro~ State - Section 2106 Interest on term deposlts and U.S. Treqsury bll15 $369,811 7, 500 399,023 671027 843,361 117731890 Disbursements SectiO!1 2107: Project 135, J.O. 789-17 Project 144, J.O. -28 Project 148, J.O. -34 Project 158, J.O. -36 ProJect 151, ~alntenance Total Section 2107 $ 12,533 200 4,794 6,130 293,000 316,657 Section 2107.5: ProJect E-15, Englneering 7 , 500 Sectlon 2106: ProJect 119, J.O. Project 120, J.O. Project 137, J.O. Project 142, J.D. Project 143, J.O. PrOJect 146, J.O. Project lL9, J.O. Total Section 2106 Conde~~atlon Deposlt, 789-06 -10 -17 -22 -25 -29 -35 34,642 16,)25 10,000 68,550 1,143 7,120 71412 145,452 32,000 Section 2106 Total Disbursements 501.609 r Ending Cash Balance in City Trea5u~r at June 30, 1971 (Page 41) $l}272,28l *-Apportionment Conde~illatlon Deposits: Interest $369,374 **Apport ior~":lent Condemnatlon Deposits: Interest $387,002 437 $369,811 12,021 $399,023 -42- I I I I I I I I I I I I I I I I I I I CITY OF S~{TA MONICA FINANCIAL STATEMENT - -- -- - - COUNTY SPECIAL ROAD FUND RECEIPTS M{D DISnU?S~lTI~TS YEAR END~D JUNE 30 ~ 1971 Beginning Cash Balance, July 1, 1970 Recelpts Project C-78 ProJect C-79 Total Recelpts Disbursements Project C-76 Pro.:;ect C-77 Project C-78 Project C-79 Return to Los Angeles County of unexpended project funds: Project C-76 Project C-77 Total Dlsbursements Ending Cash Ealance at June 30, 1971 (Page 43) -44- $111,305 117,539 9,154 18,737 .$ 36,770 228,844 265~614 4,114 6,066 109,404 117,282 27,891 264~757 $ 857 I I I I I I I I I I I I I I I I I I I CITY OF SANTA MONICA FINANCIAL STATIMENT v.'EED IIR!J,TI:1ENT J:o~uND BALANCE SHEET JUNE 30, 1971 Asset Cash (Note 4) $ (7,048) Reserve and Deficit Rpserve for Encu~b~Bnces (Note ?) $ 1,122 Deficit (81170) $ (7,048) Total Reberve and Deficit STATn~ENT OF REVE~~ EXPEIIDI'IURES M~D CHPJ.;GES IN DEFICIT YEAR ENDED .TUXE 30l 1971 Revenue (Note 1) Current assessments De1~nquent assess~ents Penaltles and lnterest $, 13,557 401 62 $ 14,020 City property weed cleaning ll230 15,250 Total Revenue Expenditures (Note 2) Expendltures for weed cleaning 191019 Excess of Expenditures over Revenue (3,769) Decrease in Reserve for Enclli~br~~ces Increase in Fund Balance during year 4,260 491 (8,661) $ (8,170) Deficit at June 30, 1970 Defic~t at June 30, 1971 Note: Weed abatement assessments receivable at June 30, 1971, $13,385, fully reserved, are not included on statements. -46- I I I I I I I I I I I I I I I I I I I CITY OF Sk~TA MONICA ----- --- -- - - - FlliANCIAL STATmENT CAPITAL PROJECTS ~~ 1967 \>lAl'ZR RS'I/'EI;LTE BONDS STATEMENT OF RECBIP1S AI;}) DISEUFS~I;ENTS YEAR ENDED Jm;E 30, 1971 Beginning Cash, June 30, 1970 $ 28,950 Receipts Interest lnc~e revenue 1,592 Dlsburse~ents Constructlon expendltures (Page 58) (30,542) $ ~o- Endir~ Cash, June 30, 1971 -48- I I I I I I I I I I I I I I I I I I I CI~ OF Sfu~TA ~CNICA AIRPOF1' OPERATING F"tJIID M~ALYSIS OF CFJU{GES IN RETAIN~D EfillNINGS YEAR END-:<:D JUNE 30 t 1971 Net Income for Year (Page 51) Increase in Reserve for EncTh~brances Fixed Assets acqu~red through Deprecietlon Fund (Page 52) Funded Dcpreciatlon Transfers to Depreciation Fund (Page 52) Addlt~ona1 Allowance for Uncollectible Accounts Transfer to General Fund (P86e 20) Decrease in Retained Earnings durlng year Retained Earnings at June 30t 1970 Retalned Earnir~s at June 30, 1971 SCHEDULE OF FIXED ASSETS JUNE 30, 1971 Land Improvements to Land Buildings Control Tower AQ~inlstratlon BuildlDg (estimated) Equip~ent storage shed Har~ar T-200 (estimated) Hangar T-2Ql (est~mated) Servlce station Equip:nent Automotivet offlcet miscellaneous (estimated) Total Flxcd Assets (Page 49) -50- $ 32,548 97,026 11,597 39,954 30,000 27,699 FINANCIAL STATIMEU'I' $ 184..438 (2,209) 2,075 (37,844) (5,674) (1&,)f729) (39,943) 2,262,825 $2,222,882 $1,233,284 778,973 238,824 92,458 $2,343..539 I CITY OF SANTA MONICA I~~~=- I I I I I I I I I I I I I I I I I Cash (Note 4) Reserve for Encumbrances Fund Balance Total Reserve and Fund Balance AIRPORT DEPRECIATImr FUND BALIJ-iCE SHEET JUNE 30, 1971 Asset Pe~p,~c ~nd ~'P~ ~~1?~~p STAT~reNT OF C:U~lGES TI{ FuND BALAI'~CE YEA.1i ENDED JUI;E 30, 1971 Expenditures (Page 50) Funded Depreciation transferred from Alrport Operatlng ~~d (Page 50) Increase in Reserve for Enc~~brances Increase in Fund Balance durlng year Fund Balance at June 30, 1970 Fund Balance at June 30, 1971 -52- FINA..~CIAL STAmmNT .$155,865 $ 24,192 131,673 $!5?,865 $ 37,844 (2,075) (24,192) 11,577 13:>,096 $131,67:2. I I I I I I I I I I I I I I I I I I I CI~ OF S/~TA MONICA FINANCIAL STAmtENT TRf,NSPCF':"'ATION OPEFJ,Tl~rj FUND STATE:M:B~JT OF Il~CC~llE YEAR ENIED JTJrr~ 3D. 1971 Operating Pevenue (Note 1) PassenGer fares Charters Advertif'lng Other OperatinG Sxpenses (Note 2) Dr1vers' wages, fuel, and other transportation expense Equipm~nt maintenance and gara~e Dep:reclation Insurance and safety Administratlve and general Advertls1ng Rents Bad debts expense Net Operating Loss Non-operat1ng Revenue Sale of buses and service cars Rental of bUEes and property Other Net Inco~e for the year TRANSPORTATION OFR.~ATING Flnm ANALYSIS 0; C:rr~\GES nr PSl'AINED EA.I1NllIGS YEAR END;<:D Jm3 30~ 1971 Net Income for the year Fixed Assets acquired through Depreciation Fund (Page 55) Funded Depreciation transferred to Depreciation Fund (Page 55) Increase 1n Reserve for Encumbrances Transfer to General Fund (Page 20) Decrease in Retalned Earnings Retained Earnlngs Balance at June 30, 1970 Retained Earnings Balance at June 30, 1971 -54- $2,309,507 131,549 61,709 316 1,522,085 364,12'J 253,232 133,772 269,06J 6, 260 6,658 104 $2,503,081 2,555,341 (52,260) 55,472 2,651 5,213 63?336 $- 11,076 $ 11,0'(6 103,845 (253,282) (343) (50,392) (189,096) 2r6Cll,65~ $.?, 412, 561 I I I I I I I I I I I I I I I I I I I CITY OF S~~TA VONICA CElI~TERY OPERATIK:; I"FIID BA.LAJ~ CE SHEET' .rUNE 30, 1971 Assets Cash (Note 4) Accounts Peceivable Total Assets Liabilities, Reserve and Retained Earnings Liabilitles Acco~~ts payable Accrued payroll Reserve for Encumbrances (Note 2) Retained Earnings Total Liabilities, Reserve and Retained Earnings STAT~'lliNT OF INCO~~ AND ANALYSIS OF RETAINED EA.l:l.NINGS YEAR ENDZn Jffi':"E 3D, 1971 Revenue (Note 1) Lot sales Miscellaneous sales and services Interest & dividends on Perpetual Care Fund investMents Expenses (Note 2) SalaTles and wages Supplies and expense Net Income for the year Fixed Assets Expenditures Increase in Reserve for En~umbrances Interfund Transfers: To Ce~etery pp~etua1 Care Fund (Page 63) From General Fund. (Page 20) No Change in Fetained Earnings during year Retained Earnings at June 30, 1970, and June 30, 1971 -56- FLlfANCIAL STATEMENT --- $ 12,082 2/162 $ 14,2!~4 $ 1,174 7,037 $ 8,211 3,384 2,649 $ 14,241+ $ 49,455 70,785 49,812 124,687 . 25,957 (19,160) 90 ,889 $170,052 150,644 19,408 (87,773) (3,364) 71,729 -0- $ 2,649 I I I I I I I I I I I I I I I I I I I CITY OF SANTA MONICA FINANCIAL STATEMENT WA'IER OPRRATING FU1m ANALYSIS OF CRANGES IN PETAnED EA.>tt"1II\"GS YEAR El\,TDED JUNE 38, 1971 Interfund 1Tansfers Fron: General Fu.nd (Page 20) To: Water repreciation Fund (Page 6:)) Debt Servlce Funds $ 200,223 (2,681) $ 30,542 331,139 361,681 (225,000) 160,886 (48,h28) (245,000 ) (132,542) 201,681 9~192,469 $9, 394,158. Net Income for Year Increase in Reserve for Encumbrances Flxed Assets acquired through: Bond Fund (Irate 6) (Page 48) Depreciation Fund (Note 6) (Page 60) Funded Depreclation Transfers to Depreciation Fund (Page 60) Increase in Retained Earnings during year Retalned Earnings at June 30, 1970 Retained Earnings at June 30, 1971 STATEl.2l\""T OF INCOlvIE YEAR ENDED JUTE 30, 1971 Operating Revenue (Note 1) Sales of vlater: Commerclal Sales to City departments Other: P..ydrant rentals Service lnsta11ation charges Income fro~ Operations $1,583,604 44,950 $1,628,554 13,479 52,387 65,866 $1,694,420 611,497 113,253 54,317 243,531 67,830 154,041 225,000 1,469,469 $ 224,951 10,283 5,58Q 1,549 17,412 (42,140) $ 200,223 -58- Operating EA~enses (Note 2) Purchase of wa~er Pt.u:1ping Purification TransmisSlon and distribution Custo~ers' accounting and collecting Administration Depreclation Non-operatlng Inco~e Sale o~ surplus property Rental of property Other Non-operating Expense Net Inco~e for the year I I I I I I I I I I I I I I I I I I I CITY OF StJiTA MONICA WATER n:ZPRECIATION FUND B.AUu1'CE SHEET ~mm 30, 1971 Asset Cash (Note 4) Liabilities, Reserve PT'0 1<'IlYJO "P:-.] 2.,:ne Liab~lities Accounts payable Accrued payroll Reserve for Enc~~brances (Note 2) Fund Balance Total Liabil~ties, Reserve and Fund Balance ANALYSIS OF CHI;J~GES IN F'"&ID BP-LP\N~E YEAR ErmED JLCG 3J, 1~71 Funded Depreclat~on (Page 58) Acquisitlon of Fixed Assets (Page 55) Excess of Acquisitions over Funded Depreciation Decrease in Reserve for Encumbrances Transfer from Water Operating Fund (Page 58) Decrease ~n Fund Balance dur~ng year Fund Ba1a...'1ce at June 30 J 1970 Fund Balance at June 30, 1971 -6:)- $ 2,665 756 $225,000 331 ~ 135~ FINANCIAL STATrnENT $509~578 $ 3,421 182,968 323,189 $509, 57~ $(106,139) 20 , 258 48,h28 (37,453) 360,642 $3231189 I I I I I I I I I I I I I I I I I I I CITY OF Sk"iTA MONICA 7 .5M 6.5M 2,9521v1 532I-1 123M 11,500[.1 lOOl-! 30 . 81.1 250M 10::Wi 5M lOr-! to 1,JOOM FLT1ANCIA"L STATDrENT GElillRAL SERVICE REV01?IKG ~lnm PREPAID TNSUFAn::E SCHEDULE Y""EAR ElIDED J'JFE 30, 1971 Fire Municipal Pler ~~unicipal Pler Parking Structures (4) (Fire & Sarthquake) Rental value of structures VarlOus bUlldings, Parking Authorlty Various bUlldin;s & contents (Blar~et policy) Steam bOllers, Llbrary, ~~d Municlpa1 Pool Flne Arts Floater, Library Total Prepaid Flre Insurance Fidelity Bends Faithful perfon~ance blanket ~easurerls bond Honesty bl&~ket positlon bond Total Prepaid Fidelity Bends Fub1le Lia1n1i ty Parking Authorlty Parking Lots and Property Burglary and Pobbery Compensat~on Insurance Deposit Policy Nu,,"T.ber Annual VIriteoff PreJ?aicl to Remalnin~ at 6/30/71 F7199089 1/18/74 $ 221 $ 443 F6677659 5/20/72 210 210 04F31701 11/1/71 4,957 3,218 04F31701 11/1/11 792 264 04F31701 11/1/71 271 65 04F32857 12/1/71 6,626 6,626 1996336 1/31/73 255 255 56IM610395 12/28tr3 35 70 11,151 33525299 33566174 33525300 1/27/73 11/21/72 7/27/73 1,181 450 366 33ALB5233 11/21/72 3y1S3363FCA 12/4/13 2,031 1,925 Total General Servlce Fund Prepald Insurance (Page 61) -62- 2,362 675 731 3,768 2,031 3~851 25~OOO $ 45,80] I ---------- ------ --- - - I I I I I I I I I I I I I I I I I I CITY OF SANTA MONICA FINA...~CIAL STATEMENT MISCELLAIEQUS TRUST FLTNDS Bft.LAH8E SF!E'B.,'T JUNE 30, 1971 Assets Cash (Note 4) $635,211* Deposits Receivable 35,000 Total Assets $~7~O .gl}: Trust F~~ds Ealance Total Trust Funds Balance $580,835 115 1,245 2,714 7,990 71,455 1,595 4,262 $670,211 Transportation State Translt District Stree~ bond advertislP~ deposits Plans and specifications deposits Taxl arlver Gadges Street and sewer inspectlon deposits Surety bonds and ClQ deposits Recreatlon Departnent deposlts Unc1almed payroll checks *Includes $580,835 Certificate of Deposit -64- I [J t. i ~ MOj ~j o 0~1 1 \0 ...-l o~ ~ ~[ r.l ClJ Ul 0'<00 C, t'- ", ...., co ro Lr\ ":1 I t i '"' (lJ ~I O\t'--....::r 0 t-- \D C\J \D I ..:1 \.C' , t-- :;:l 1--1 L') " .. - ... " 0'" 0 .,' +-l CJ 0 '0C\J(Y) (\) rlr-'O (Vl 1 C\I 1 \01 \.0 l' ~~Q (\J (>-"1 ~ ri If"\ en ~ H -Ef.l- ~ I H 2 to ~, <r, ~~~ . -- ~ OO~ ~J 8Jl ,.:... 001 ; 88 0 H p< ro t"- ogo 000 0 I ~ '.; ~ o 0 000 10010 01 V dO ... ... ... ... o .... ....0 .. c: .p [>, 00 (\JOO (V 1t:2@ '0 ~[ 1 ...... \J) &~ OJ: '--0 L.f"\...-lt-- (V"' 0 t::~\O r-lr-lcY" r-lr-l (01 C\! C\! (>" I 0 rl ~ ~ I ".j ....~ I f"'(' ,-., (") ,-., ~i n,,""" ,-.., 01 ~ ~Ii (lJ UH- 00 ~ 00 o 0 0 0 ell '"' s::: 1 00 00 00000 'rl ,.-I 0 ... ... ... '" ... ..... .... .... I ~Ht-- (SS 0\0 C\~C\oo GJaC\ r-lrl ('J rl ' t--o C\! G'" r.r; r-l r-l r-l r-l rl...-l (Y) 011 -ffT +7- I b-.J r-l c: 01 ('$ -....( OO~ 000 :i o 0 0 0 ~~ :i or ~~~ 000 81 000 00000 ~I 'rl C r- 000 ooe 00000 r-I t) (j ... ... il ... ... .. ~8"~O-O I t-- ---C~r-i ~&8 rl@O 0'\ '.-I t: t--'.lt-- r-l C\I t-- 0 I l' 8....... t~t- C\J (Y] [Y) ~l C\Jr-l .-I rl f'" ~I r.c r:Ll 0 AO -{f.l- *- (Y'\ I j::l ~[iJ. ~5 0'1--;) P=i I Q gj ~ I ~~ t-3 .,...; \J ~z H?t co c::)Co a) co CD ...-lcQCOL.f"\(\J ~~ 0 ...:t L.f"\ L.f"\ ...:!' If"'\ L"'\ (Y')...:!'...:!' L.f"\'---'l Z ,cc C'lC\0\ C\ 0' 0'\ O\C"C\C\C\ ~~ +' 0 .--Irlri ,..,...-lrl rlrl.-lrlrl I ;j 'rl rx:l <t:+-l >< {/J '0 I l=l (\J C &LQ C\I ...:j- ...=1" (\/C\J -::t 0 (lJ ......... ......... ......... .......... ................. ......... II[ ;::1+-l rl r-l rl M r-l...-l M o al I I I , I I I s::: 00::: C\J [V) (Y) C\J(Y')(Y') l.['\C\JC\JC\J(\J 0 I -rl +' Qj bD 'ri +' r-l r-l s.:: .0 I ell OJ ~I (Y') M ('f) (Y').-l M OfY"(Y)O{V) 0 ~ ~ ~ I:'-t'-t-- t-- t-- !"-- t- t-- t'- t-- r-- -rl 4D ry.. 0'\ C\ 0\ 0'\ C'>. C'\ 0\. C\ a-.. 0\ 'd IL.ro;>-< rirl,....., r-/r-/M r-l.-l.-lrl.-l ~ H Q) s.:: I Q) -:x: 0 t) l~ H '0 '0 ? 10 s::: H ~ 0 '0 0 d ,.0 I >: t~ s::: P=l ~ U t' J3 A c:::( o.l co i:: E-< r-l ;::1 !-t C 0 13 '"0 ...., (.) 10 tl OClJO-rl Cl "'"' c1; .!<1 '0 G.l +.J 'rl +> ..., '"0 I U) '0 l-t s:::: c;C!l+>ch >. I=l r.: 0 0 c:! ~ Cj I-< 0 H ..9 ~. as ;3: ,.. ,.. ~ P=l J.... H l-t r-l QO...., rJ ...... 0 ([) (J (J ~ (:J (:J .--Ic:ll-tP,HH (lJ ,.. +' +: +.J I-< ~ ~ ~ (!) Ci t) ~. 'Cl ,.0 cd ~ ;::l QJ ro ro ro Q) CJ (lJ (lJ v s.... (lJ 0 ::l ....... Ul +':3.:3.:3: ~ U) (;] V:J tljP:;O:;DC::C;....:l .j..) I H Ul c:! Q) -rl 0 (.) H ~ tf.l Z 8 -66- I AR.TH[Jll. F R01T C.,"t1f:<<l p.,~~ &oo.<"'~1 ILfI...'1CHl!JOHNSO'l raeEl-IA.'1 hb~c AGcollD.aal: I I HARRY L. NOURSE AUDIT CO. SUITE 222 . PHC~E EXBROOK 3.04071 409 SA}'"TA l-iONICA BOULEVAlW SANTA MONICA, CALIFORNIA 90401 I December 20~ 1971 I I I To the Parking Authority of The City of Santa Monica In our opinion, the acco~panying combined fund balance sheet and the related combined fund statement of revenue, expenditures and changes in I unappropriated surplus, pages 69 through 73~ present fairly the financial I I position of the Parking Authority of the City of Santa Monica at June 30, 1971 and the results of its operations for the year then ended, in con- farmity with generally accepted accounting principles applied on a basis consi&tent with that of the preceding year. Our examination of these I statements was ~~de in accordance with generally accepted auditing stan- I d2rds and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circum- I stances. I HARRY L. NOURSE AUDIT C01-1PANY I ~~ _--/7 / ~_ . . ~ /~~-~-- ~t]"o! /f(~. ~-f-- ; C~rtified Public Accountant I I I I -68- I I I I I I I I I I I I I I I I I I I PA..BKIJJG AU1'EORI'fY OF Tlrs CITY OF S.~ITA ~ONICA :NOTES TO FEiANCIAL STATE1-fL:'~TS NOTE 1 - Principles of Accountir~ The aCCoili~ts of the Parkin3 Author~ty are rr~intaln2d o~ a modified cash basis of accoun~ing. Fevenues are recorded upon re~eipt, and expendl- tUi t: 0 are l-c(.orc;....u -".::....2!1 Ll_L. i'Lela-LCii llill. ~~r .!..ct.l~. Oi~ S~l-"-v .Lc.e:.., crt.: recel"~ eu... NOTE 2 - Revenue Revenue for the General Operating FQ~d of t~e Par~lng Authorlty is derlved from recelpts from off street parking neters ano parking lots, proper~y rentals, interest frem excess funds WhlCh have been lnvested, e~d from the sale of real and personal property. Revenue for the retirement of bonds ~~d for debt service payments is derived from lease of parklng st~~ctures and lots, and fro~ lnterest earned fro~ lnvested funds. NOTE 3 - UQ~atured Bonds fu~d Interest Payable Under Resolution No. 110 (PAS) of the Pnrkip~ Authority, a~opted Feb~~ary 15, 1966, bonds In the a~ount of $7,500,J00.00 were authorized. Maturlty Gates of the bo~ds began August 1, 1969 and wlll contlnue untll August 1, 1)93; however, bo~ds maturlng O~ or after August 1, 1977 are call- able on or after August 1, 1976. PaJ~ent of the bonds is guarlli~teed under a lease 80reement with the City of S&~ta Konlca whereby the 81ty w~11 operate and maln~ain parking s~ructures, built from the proceeds of the bo~ds, and certain parking lots pending constructlon, for an at'mual stipulated rental. The rental payments must be included by the City III its a~~ua1 tudget. Payments can be made from all available sourceSj however, the 2jty 16 uSlng revenues fron three sources in partlcular for nost of the funds reQulred. Additlonal annual bU5lness license taxes are leVled at five tir.es the regular rate on all buslnesses within a llllle square block area, Whlch ~as established as a Farklng &~d Business Im.prove'12nt Prea "by City o!'c-tnance. An ad valorem asseSST..::mt is levied on ~ne taxable real property ~ithln t~e sa~e area at a rate not to exceed t2.25 per 3100 assessed valuatlO~. ~he net revenues of all on street meters i~ Santa Monlca are applled to t~e rental pa~~ents to the extent necessary lli~d avul1able. -69- I CITY OF S~~TA MONICA I PARKING I Cr.' vJ I I ASSETS Ari'"D OTl-"Jffi DEBIT~ *Cash I Interest ReceivabJe I Note Rece~ vable I I Fixed Assets at Cost Land structures and improvemen1 Meters EquiF:'".ent Furniture and fixtures I Amount to be provided for Retirement of 1956 RevenUE Total Assets and Other Debi1 I LIABILITIES 1 RESERVE & I Liabilities Revenue collected ~n advro Matured interest payable Unmatured interest payablE Urnnatured bonds payable (1 Total Liabilities I Reserve for Encumbr~~ces I Investment in Fixed Assets I Fund Balance I Total Llabillties, ~eserve and Other Credits I *Cash includes: Certificates of Deposit I I I I ~ Q.l ~ ~ k ~ '01 . - w c: I ~ 1 . 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H x ('.) t.J Q) (Ij t.l (!) u H ~~ ~H...-Ip.. ~, :) X c; +' t) rl ~ H (l) f.: 0 (I) 0 (l) (l) 8 0 III (LI ri (!) s:: c: G-i E-i s::w H s:: A Q CJ () ~ Zo>..pfH I-o-P ..) (l; (ij 8 .-I --....OJ --- >. s:: g '-' l-I +' Ul 0 ;j -' '" {r.: E s:: ()) ro -r) H C\J W ~ I-t GJ .;..> ~- ~ G; Q C) --"";:1 s:: wp GJ ~Cl Q) ..n cd .-J I C!) L1QlHi!J .,... .- k k+' s:: :l \Ii G) l? r- l/) i:r .8 ~ ;:! p.,Q) L') '0 :::: r= (l) .-\ s::: L~ Q 4-< cjj::l OJ ~ d r-' IQ 0 s:::4-i o+>m s:: o<:v .;...> -r) -rl l' >- h V (J 0 ~ 3 ())'H~S::(l) C) t.: :... C (j; ~ (l (OJ (); HG-l H s::: <d 'CS ~ >0 HH p,<:r:;p..,t-;P:::::S C)P::; +' V 0 v~ 0'0 s::: s::: (I) >< x c CJ CJ s:: ;:l & I H p::; W r~ H A A H r.... u -72- I I I I I I I I I I I I I I I I I I I CITY OF Sru~~A MO~ICA FINANCIAL STATF:M:C'iT PARKn~G AU'l'3{lF'I'rY OF TID~ CITY OF SA:fTA 1'<1ONICA OPERATHG RS'lEI~ l.:~n BXFENSES YEA.q EKDED 31J1';E; ~J. 1971:. Revenue (rates 1 and 2) Ofr street parking meters: Lot #1 #2~ ~2A, and #9A #3 a~d #4 " ~~7 #9 #10 #12 #1B Leases and rentals: Lot #6 (F\meral :lame) Lot #11 (Relocation apartnent property) Lots A ta L~ Elk 196 (4th Street) (~et) Lots 5, T, U, Blk 195 (4th S~reet) (Net) Lots M to R, Elk 196 (3rd Street) (Net) Lots B, C, D~ Elk 197 (3rd Street) (Net) Total ParkIng AuthorIty Revenue Expenses (Kate 1) General and adminIstrative. Office supplIes and expenses MembershIps and ~eetlngs City staff servIces Special depa~~~ent supplIes Main Street property ParkIng Lots - V-aintenance and operation: Lot #1 #2, #2A, &'1d #9A #3 and #4 #7 #8 #9 #10 and #11 #12 #18 Total ParkIng Authority Expenses -73- $ 11, 6~:n 1~9Bo 21,255 2,660 1~558 685 4,206 8,553 1~100 7,000 10,043 2,766 17,304 4,769 $ 1~355 51 23,171 584 945 2,060 460 3,140 1,614 76 364 1,622 1,658 2,240 $ 52,508 42,982 $ 26,106 13,234 :t95 ~ 482 $ 3,9, 340 I I I I I I I I I I I I I I I I I I I SUP P L E M E K TAR Y FIN A IT C I A L I N FOR MAT ION -74- I --- I I I I I I I I I I I Une^-'1'ended Balance I I I I I I I Ci~~ OF SANTA MONICA S~Ll-INSUR~~C~ ?l1ND Ca~BINED OPERh7IOKS AUGUST 2C., 1952 - 3THi:: 30, 197:1.: 8/m/52 to 6/30/67 IJ67-68 1969-70 1 ]68-69 In LIeu Charges to City Departments :!5~_2L~,07~ $151,587 $151,759 ~-c;r; 672 'f'1. -' lJ '_-= Expenses Ad.-;ustir.t; Legal (Pro-rated) ClaiMS and cour~ $ 186,600 $ 18,088 $ 18,000 $ 18,000 178,932 17,700 17,708 17,700 48,903 2,317 2,833 5 , 29 5 1! 959 66 179 282 416,394 ~, 083 33,712 41,277 381,542 23,228 30,479 36,624 584,732 59, 2_2 54~3h9 56,712 966,274 8_2~523 _ 84,823 9'3,336 522!456 '"'5 p.rS 29,572 31,053 L 1'-'0 . I} 905,124 Ih9,474 153,112 165,666 $- 340,954 31. J ,067 31.1,714 332,7'XJ for Unsettled ClaiBs at June 30, 1971 }I;.i scellen20us Total Expenses Paid Losses By AdJuster By CIty Total Paid losses Premi~~s on Excess Total Expenditures Estimated LiabilIty Fund Balance per Bal~~ce S~eet (Page 38) -75- FLl>!"A.NCIAL STA'!"'i:MEJ.~T Total 1970-71 to Date $~_82, h4? $2,838,541. $ 19,8-JO S 26Q,400 17,700 249,732 7,253 66, 6Cll 43 2,529 44 , ,(9~ 579,262 18,892 490,765 45!927 8C>1,015 64,819 I? 291, 7eO 46,531 658 ?,53~ 156,196 2,_529,572 358,969 358,962 _105,950 $ 253,019 I - I I I I I I I I I I I I I I I I I I CITY OF SA!nr~ }~ONICA SELF- INSUR.AXCE FlEID - BUSES OPERATIONS S'l'AE1~NT DE(;EM13E:8 1 T ].952 - <ru'TrE 30 ~ 197.~ 12/1/52 to , 6130/67 1967-68 1955-69 FINAl':'CIAL STAT,SIO' 1969-70 Total to Date 1970-71 In L::eu ?remiQ~s charged to Transportatlon Departnent $1,420,752 $ ;/2.1J;6:3 92"oh4 $_96,_519 $106T.~~ $,b80B,4lJ $ 1'" 0r:;,..., ,.. , ^ 0""...... '" , '\ 0",,..., ~ , "I P"" ~ 11,~()C' ~ ~ r:;,7. C;?() J..),'-......v -..) ...L-V , \c...-...._~~ .J ..J...V ,I~--....J ,,) ~v, -''- 'oJ" <" -...... I j --".......- 105,540 10,620 10,620 10,520 10,520 148,020 31,442 1,553 2,585 2,585 3,527 41,612 1,117 49 115 171 26 1..478 251..349 23..022 24..040 24~176 26,051 ":148 640 ..J .1 Expenses AaJ.J~.3Ll!lb Legal (pro-rated) Claims and cmlrt t<l.iscel1aneous Total Expenses Paid Losses By AdJuster By City 307, ;08 18,085 22,209 380 , 725 49,71~ 46..803 688,234 67,883 69T012 256..925 9,748 ~1,120 Total Pald Losses Preml~~s on Excess Total Bus Liabi1lty Expense Sl,192L!o8 $100,573 $104,172 26,049 11,675 385,526 45..Q77 31,438 554~662 72,026 43,113 940 , 188 12,601 16 , ~1')6 306.800 ( ;t~9C3J??3 $~5, 572 $1,595..628 Miles Traveled ~9,195,029 3,511,107 3,441,1')0 ~,..394,886 3,281,249 62,623,401 Charge per 100 Miles to Trfu~sportatlon Dept. 2.888 2.432 2.687 2.923 2.711 3.068 Cost per 100 Miles RECAPITULATION Total in Lleu Premlums 2.875 3.241 3.249 2.M7 2.878 2.539 $1,808,411 Actual Expenditures for 223 Months $1,595,628 Estimated Llability for Unsettled Claims at June 38, 1971 Fund Balance Average Annual Cost: $85,863 -77- 58,950 1,654,578 $ 153,833 / I CITY OF Sl\...~TA ~'O:KICA I~- I I I I I I I I I I I I I I I I I ON STREET PA.~KING l-Li:;TER FUIill REC~IPrS F1ID nISBUFSnSIil'S SEPfEI:i:JER 1, 1)48 - JL:iE 30? 1971 Revenue M~ter cn~'e~+~0~~ MlscellJneous sales, relmbursements & revenue Sale of :property Total Revenue Expenditures Coin collection, COuntlng & m~ter maintenance Police - clerlcal and enforce~ent Rental & ~alntenance of structures and lots Mainten~~ce of beach par~lng lots thsce11&.'1eous Total Ex~enditures Capital and Transfers Equip:nent Purcnase and installation of meters Improvements, per schedule (Page 81) Transfer to Parking Authority (Page 82) Total Capltal and Transfers Total Disbursements Ending Cash Ealance -79- 9/1/4.8 to 6/30/70 ~~ O~:"I ()~n T.J'''........}.....J 22,549 81,836 4,054,415 437,201 427,346 701, 502 5,100 269 1~571,418 FINA.\"CIAL STAT'JS!:T ~ - 1970-71 $ ~?l;~SO 269 221/769 27,112 35,666 158,991 _ 2211769 Total to Date tJ! ,~71, 532- 22,818 81,832 4,276,184 464,313 463,012 86o,L.93 5,100 269 1,793,187 10,035 10,035 305,021 305,021 58 ,202 58,202 2,009,983 2,OO9~9a3 2,383~241 2,383~241 3,954,659 221.769 4,176~428 ( $ 99~756 $ 99,756 $ 99,756 I 1948-49 1949-50 1950-51 1951-52 1952-53 ]-953-54 1954-55 1955-56 1956-57 1957 - 58 1958-59 1959-60 1960-61 1961-62 1962-63 1963-64 1964-65 1965-66 1966-67 1961-68 1968-69 1969-70 (9-1/2 months) July August September October November December January February March April Nay June Total 1970-71 Grand Total I CITY 1- . I I I I I I I I I I I I I I I I I Of SA..'i7'A. 1I,C'UCA FDJAL~CI!tL STATD~}JT SCIIEDULE DiPROVrJ-lliNTS TO PA?KING A~EAS ON SJ.'REB'f PJiI-{'CUiG ~1El'ER FUND Total at June 30, 1971 (Page 79) $ 1,072 1,279 1,500 5,156 219 450 72 650 377 728 3}265 1,510 2,405 640 205 9, 579 7,333 3}94o 429 1,6a2 11,982 3,341 468 $.58,?O2 Original pa~nting of parklr~ stalls ou ~~reets Pave parking lot at 530 Pallsades Beach Road Pave parkir~ lot at 950 Palisades Eeach Foad G""~de , r"ye E.'1d co'yJ str1Jct retrd n1 ng wall, Chase Hotel "p'3.rklng lot B~~per strips on lots between Deauville ~~d ~~ & Navy Club Park~ng lot northerly of pier adjacent to Deauville (plans and fencing) Driveway at 932 Palisades Beach Road Extend parklng lot at 530 Palisades Beach Road Install meters on pier Gradlng 2...1'1d olling of lots at Eicknell and Ocean Avenue County Buildlng parklnG lot (total cost $12,265) Parking lot at 924 Palisades Beach Road Parking lot, burlpe~ strips and roadway, north of p~er (total cost $5,417) Bumper strlps on 8 beach parking lots Alley pavinb assessment, Lots T and U, Block Ill, Town of Santa Monica Parking lots north of pler adjacent to Deauville, Roadside Rest, and 530 Pallsades Beac~ Road Enlarge~ent to Monica Hotel parking lot, Promenade at Vicente Terrace Parklng lot on beach between Wadsworth and Hollister Streets Install fence and patch paving, lot at Hollister and Pro~enade Improvements to begin, leased property on beach Clearing VarlQUS State acqulred beach properties On street traffic meter signs Additional paintulg, nddi tional street parklng stalls -81- J E-X-A-M-I-N-P-T-I-O-N R-E-V-I-E-W ~-O-M-M-E-N-T-S A-N-D R-E-C-O-M-M-E-N-D-A-T-I-O-N-S AllTIlUIl P. RO'IT ~....; Pub~e ^"",,,,,=. 11.A)I:0I1! jOHSSO'i F1tUMA.~ "bue Acto..,,,,,,. HARRY L NOURSE AUDIT CO. SUITE 222 . PHONE EXBROOK 3-04.71 409 SANTA MONICA BOULEVARD SANTA MONICA. CALIfORNIA 904.01 December 20~ 1971 Mr. Perry Scot t City }Ianager City of Santa Monica City Hall Santa Monica~ California Under separate cover we have submitted a report on our examination of finan- cia1 statements of the City of Santa Monica for the fiscal year ended June 30~ 1971~ including our opinion on the statements~ brief descriptive corornents on fund accounts and information on major accounts reflected in the balance sheet. This report discloses the scope of our audit and comments concerning our findings. ~cope of Examin?tion Our examination was conducted by means of sampling and testing the City's accounting records and by inquiries directed to responsible City personnel~ depositaries and others. Tests and samples established to our satisfaction substantial accuracy of accounts maintained by the City; however~ such tests would not necessarily disclose irregularities of immaterial amounts. The scope of our examination inc1uded~ but w~s not limited to, the follOwing procedures. Surprise cash counts were conducted in all operating departments where cash was received or disbursed. All change and petty cash funds were reconciled with amounts shown on the City's books at that time. Confirmation of cash in banks at June 30~ 1971 were obtained from all depositaries and balances reported ~ere satisfactorily reconciled with City books at that date. Confirmations were also obtained for securities held and pledged by deposi- taries as collateral for cash on deposit. A complete count of all cash in the hands of City employees was made by our representatives and reconciled to control accounts as of June 30, 1971. We inspected United States Govern- ment bonds, municipal securities and stock certificates and reconciled our count to investments as reflected in control records as of June 30, 1971. During the fiscal year ended June 30, 1970 the Transportation Department inaugurated a program of accepting only exact fares from users of the system~ Since payment can be made only by cash or tokens it was necessary to estab- lish convenient points, such as banks and major department stores, where prospective riders could purchase tokens, Several methods are used to provide outlets with tokens. We confirmed, by direct correspondence with the outlets, the status of their token account and reconciled all outlet accounts with records maintained by the City. We confirmed accounts receivable by direct correspondence with the debtor or by alternative audit procedures. Where material amounts were involved, we observed physical inventory counts and tested unit prices and extensions. Acquisitions of fixed assets were tested by examination of vendor's invoices, title policies, City Council resolutions and other supporting documentso We determined on a test basis that bond interest coupons tr2nsmitted from the paying agent to the City were properly cancelled in accordance with established procedures. We reconciled bond redemption payments by physi- cally inspecting the bonds redeemed. -2- We review~d the operations of the Data Processing Center including programs presently being processed~ programs in the test and parallel stage~ and systems in the analysis stage. The following programs are currently pro- cessed: 1. Daily cash receipts from all departments. 2. Preparation of accounts payable warrants. 3. Inventories at the Central Warebouse~ Water Department~ and of office supplies are being maintained on a monthly basis. 4. Payroll checks and account distributions are being prepared for the Payroll Department together with summaries of accu- mulated vacation and sick leave. 5. Water and Refuse programs include billing for services~ collection summaries, and required adjustments. 6. Citations~ delinquent notices and warrants are prepared in connection with traffic tickets issued by the Police Depart- ment. An analysis of all calls for police help is summarized by various categories for the Police Department administration. 7. Overdue notices are prepared for the Libraries. 8. Votes are counted and results tabulated for the City Clerk's office for all City of Santa Monica elections. The following programs are in the test and parallel stage: 1. Appropriations distribution ledger. 2. Encumbrance accounting procedures. 3. Job order recording and summarizing. The following systems are n~N in the process of analysis: 1. Expansion of Water, Refuse and Police programs. 2. Integration of Personnel and Payroll departmental records and reports. 3. Maintenance of Transportation Department inventory on a monthly basis. It appears that the policy of careful analysis before prograQrning together with parallel testing of new with old procedures is sound and should result in fewer conversion problems when programs are ultimately released for regular processing. -3- We tested dispensing of motor fuel and oil for City vehicles at the City Yards and Transportation Department. Insurance policies in force at the close of the fiscal year were examined as to type of risk and amount of coverage. Howeverl no opinion is expressed as to adequacy of coverage in force. Revenues received from other governmental units were confirmed directly to us by the remitting agency. Other revenues recorded in various funds were tested as part of our regular review of operating departments and included reference to daily cash received records, applications for licenses and per- mits, ordinances. leases of City mvned property. contracts for material and services. and minutes of the City Council. Expenditures oade by the City were examined on a test basis and included an audit of a portion of paid vouchers and supporting documents. III charges were examined for compliance with budgetary provisions of Council action and proper account allocation. Invoices. requisitions, and receiving vouchers were reviewed to ascertain that prescribed procurement procedures were being followed and discounts properly taken. Expenditures for personal services were reviewed for complience with established procedures for acquisition of such services and for proper authorization for payment. All leases negotiated by the City during the fiscal year ended June 30. 1971 were inspected. Our review was to determine that such leases are in com- pliance with Council action. A review of the effectiveness of internal controls was made in all depart- ments examined. We also determined extent to which established policies and procedures were being followed by the various departments. -4- We also examined records and documents of Bay Cities Adjustment Company, an agent for the City, in settlement of bodily injury and property damage claims. Examination was made to satisfy ourselves that complete releases had been ob- tained for settlements made and reserves for unsettled clains were adequate. We ascertained that monthly reports to the City were promptly made and proper accounting for City funds was attained. Cash records agreed with City records at June 30, 1971. Our examination of the Parking Authority included tests to determine that revenues and expenditures were properly allocated and that proper transfer of title for acquisitions by the Authority had been made. In the following section we will elaborate upon our findings during the course of our three year engagement and will make recommendations for your consider- ; ation. We are aware that the number and complexity of accounting records and the stringency of the controls imposed upon financial transactions is limited by the availability of money and personnel, and that the decision as to the relative importance of a considerable nunber of desirable accounting and control refinements rest with the City Council, the City Manager, and the Finance Director. Cash Receipts Our examinations disclosed that cash collected by various departments of the City was being deposited within reasonable time limits except for the following: 10 Auditorium parking lot and concession reports have not been promptly completed after each event. 2. Contrary to resolution requirements, Auditorium rentals oc- casionally have not been collected prior to the event for which a permit was granted. Our current examination dis- closed instances in which rental had not been collected in advance. -5- 3. In a prior eX~mination during our surprise cash counts, we found three unauthorized withdrawals of funds by use of IOU chits. These varied in emount from ten to thirty dollars. The offending employee has since resigned from the City. . , 4. Several departments,or sub-divisions of departments, were not depositing cash receipts directly with the Treasurer's office. This practice results in some duplication of work at the departmental level. R-E-C-O-M-M-E-N-D-A-T-I-O-N-S 1. Finance Director's office should periodically test the time- liness of the parking lot and concession reports submitted by the Auditorium. 2. Require tbat rental for the Auditorium be collected prior to the event in coopliance with Council action. 3. Withdrawals of funds by use of IOU chits should be discour- aged. The elimination of the practice of such withdrawals as well as the cashing of personal checks should be reviewed with all department heads and incorporated in orientation of new employees by the personnel departmento 4. In order to reduce duplication of work, it would appear feasible to discuss with department heads the possibility of direct deposits to the Treasurer'~ office. Accounts Recciv~ble 'Uncollectible accounts in both the Utility and Revolving Service Funds have accuou12ted for a number of years for various reasons with no authorization to write-off these ite~. Over $70,000.00 was expended during the past years by the Revolving Service F~~d. prioarily for dacage to City property, for which reimbursement has not been received from either tl~ parties in- valved or from the General Fund. R-E-C-O-M-M-E-N.D-ft-T-I-O-N-S 1. We suggest that charges for space rental at the Harbor and Airport, due to curcuostances beyond their control were made for a period after the tenant had ceased to use the facility, be cancelled. 2. Consideration should be given to eliminating the uncol- lectible accounts of the Revolving Service Fund. -6- Inventories Inventory control appears to be adequate except that lists are not main- tained for recovered or obsolete items in the Water Department. R-E-C-O-li-H-E-N-D-!- T- I-O-N 1. Provide an inventory control of Water Department recovered and obsolete items. Fixed Assets Except for Airport, Transportation and Water Utility Funds, and the Parking Authority, proper accounting for fixed assets to sh~~ acquisitions and de- let ions has not been provided. The deterrent to establish such a procedure is the cost involved to provide the historical activity. Hm~ever, proper accounting is necessary for internal control and for complete financial reports. Inasmuch as the records fail to provide full disclosure,exception to the financial position must be taken in that regard. R-E-C-O-M-M-E-~-D-A-T-I-O-N-S 1. Delegate the authority cnd responsibility to verify the equip- ment records in various departments of the City. 2. Consider establishing General Fixed ftsset group of accounts and related acceptable accounting procedures. 1911 Bond Act Funds Over a nu~er of years the City has collected certain bond payments including interest and penalties under the 1911 Bond Act. However, some of the paid bonds heve never been presented for pa>~ent. ~-E-C-O-M-M-E~N-D~A-T-I-O-N 1. While the amount of money involved in unredeemed bond pay- ments is small, it would appear that clearance of the old amounts held in trust deserves consideration. -7- General Records The general accounts of the City, including the over-all financial tran- sactionst have been maintained in a cOmrnPndable manner and in accordance with legal and budgetary requirements. Rowevert there appears to be an increasing need for a uniform accounting instruction manual for use by departmental personnel. Expansion of the functions of the Data Processing Center will further increase such a need. R-E-C-O-M-n-E-N-D-ft-T-I-O-N 1. Consideration should be given to providing written account- ing procedures for all personnel responsible for reporting financial transactions. We wish to express our appreciation for tbe cooperation and courtesies ex- tended to our representatives by the personnel of each depart~ent during the course of our eXBoinations. HARRY L. NOURSE AUDIT C011PJ.NY /,---7 __/~ _~-~- ~', i~==-",~Ll"-:'i7,~-- ~-- I ___.7/;/' , J L//~~. .. <~ _ ~ __ -...___ -r 10 I I Certified Public Accountant -8- ~ / I I I CITY OF SA~~~~A MONICA FINANCIAL STATEr.mNT I TP~E OF CONTENTS I CITY FUNDS Opinion of lndependent accountants .. ............... ....... ...... ............. I Notes to financial statements .... .... II ... .... ..... .......... Comblned balance sheet (lncluding Parking Authority) ............... I Investment securities I General government revenuss, expenditures and ~~Uld balances General Fund I Balance sheet .... II ..... .................... ........... ............. Analysis of changes in fund bp..lance I Statement of revenue - estimated and actual .................... I Statement of expendit~res and enc~~brances compared wi th authori zatlons . . < . . . . . . . . . . . . . . . . . . . . . . . . . . ~.....II'...C1C.... Special Revenue Funds I Music, Advertising end Recreation I Planning ... "...... ".. ..... ....... ...... ........ ....... ......... ........ .... Llbrarles . .... ... ................... .......... ....... ....... ...". .... I Welfare .... ................. ...... ............. ...... .... ...... ........ ........ Park .........., ..........4"..... .......11... .... ....... ..................... ... I Retirement .IE... ....... ........, ......... ...... ................... I General Obligation Debt Servic~ Funds ,..... .................. ..... Capital D~provement ... ........, ....... .......~.......... .~.... ....... I Self-Insurance ........ ........,c.......,........I-. "... ............ ..... I 1 I Page 1 2 6 8 12 17 18 19 21 22 25 21 29 30 32 34 37 38 I I I Special Revenue Funds On Street Parking Meter Traffic Safety I I State Speclal Gas Tax County Speclal Road Special AVlation I I Airport Development Weed Abatement I Capital ProJects F\L~ds General Obligation Bonds 1967 Water Revenue Bond Utility Funds Airport Operating I I I Airport Depreciatlon I Transportation Operating .............. ...... ...... ........... ... .......... ....... ........... ... ,,,...... ........ .................. .... .......... ....... .... .... .... .... ........... 011.'.."........... ....... ... ..... .......... ...... .. ..... ... ... ..... ..... ......... ....... ... ........ . .... ........... ".... .......... ..... .........10... ....................................................................... It."................ ................ ........ ..... ........ .,... ... .... ...... ...... ......... ....... ... ...... .... .. ................. ........ .......... ........... ......."............ ................................. ...,.,........... .... ... ............. ..... I Transportation Depreciation Cemetery Operating Water Operating I . ............. ..... ...... ..........."". .. ..... ..... ....... ........ ... .... .... ........... ....... ..... ......... ..................... ... ......... ... 1967 Water Revenue Bonds Redemption Schedule Water Depreciation I .................. I General Service Revolving Fund Prepaid Insurance I I I ..... ........................ ............. 11 Page 39 40 41 43 4) 45 46 47 48 49 52 53 55 56 57 59 60 61 62 I I I Trust and P~ency Funds I Cemetery Perpetual Care . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Miscellaneous Trust .... ....... ... .... ... ... ......................,.. I 1911 Act Special Assessment Funds .............................. I General Bonded Debt Group of Accounts .............................. Bond Interest and Redemptlon Schedule .......................... I PARKma AU'IHO~ITY miDS Page 63 64 65 66 67 I Opinion of independent accountants ................................. 68 69 Notes to financial s~atements ...."........ ............................. I Co~blned fund balance sheet ...... ........ ....... ..... .... ............ Combined fund statement of revenue, expend1tures and changes in fund balance .............................................. I Operating revenues and expenses .................................... I SlJPPLEI.fENTARY FINANCIAL INFOm.rlATIOIf Self-Insurance Funds operations statements I On Street Parking Meter Fund I Receipts fu.d disbursements Gross revenues by location . ......... ..... ................... ..... I Improvements to parking areas schedule ......". ...........".. ......... Parking Authority I Receipts and disbursements I I I Hi I 71 72 73 75 79 80 81 82 I All.THt.'1l. P. aorr c.n-rJed Pul>lu: A=toll..~r BLANCH!! JO=~ FilEO/IAN MloeA=""<1<>t I HARRY L. NOURSE AUDIT CO. I SUITE 222 . PHOXE EXBROOK 3-04n 409 SA!',rrA MONICA B.::mLEVARD SANTA MONICA. CALIFORNIA 90401 I December 20, 1971 I I To the City Council of The City of Santa Monica I We have examined the statements appearing on pages 2 through 67 of this re- port, consisting of balance sheets of the various funds of the City of Santa Monica at June 30, 1971 and the related statenents of revenues, expenditures and changes in fund balances for the year then ended. Our examination was made in accordance with generally accepted auditing st~ndards and ~ccordingly included such tests of the accounting records and such other auditing pro- cedures as we considered necessary in the circurr6tan~es, except that our examination did not include tests of historic~l costs of fixed assets, other than those of the Transportation Operating Fund, because complete records were not available. I I I I I In our opinion, the financial statenents of the General Fund, Special Revenue Funds, Capital Projects Funds, Transportation Operating and Depreciatiou Funds, General Service Revolving Fund, Trust and Agency Funds and the General Bonded Debt group of accouuts present fairly the financial position of such funds at June 30. 1971 and the results of their tr?nsactions for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent ~ith th~t of the preceding year. However, because of the omission of gener~l fixed assets in the accompanying state~nts, end the method of accounting for fixed assets and depreciation, we are unable to express an opinion on the accompanying statements of the Airport Operation and Depre- ciation Funds, Water Operating and Depreciation Funds, and the Cemetery Fund at June 30, 1971. I I HARRY L. NOURSE AUDIT COMPANY I -~ " I / " -' / . .. "'.... ~ --~.-.-/.~ - I,L 'l1./.-:-~~ '- 4--/-' ~ Cert'i(i.edc Pub li"c '-AccOO'Um:ant I I I -1- I I I I I I I I I I I I I I I I I I I CITY OF SA1fTA MONICA NOTES TO FINANCIAL STATEHENTS 'NOTE 1 - Financing of City Functions Financing of City activitles is under the direct control of the City Council. Revenues are provlded fron variOUS taxes, including a general property tax, sales tax, and ot~er special taxes and licenses; by operation of public utilltles such as transportatlon, water, and cemetery depart~ents; by Subsldiary 81d from State and Federal goverTh~ents; and by gifts to the Clty whicn may be restricted or U?restrlcted as to use. NOTE 2 - Accountlng for Financial Transactions The budget, which is annually adopted by the City Council, is a general outline for financlng the City and proJecting operating costs for the year. The Clty Controller is responsible to the Clty Manager for the proper aCCOlLYltlng for all revenues and expendltures and the preparatlon of requlred financial reports. The accounts of the City are maintained on a modjfled accrual basis of accounting and 1n accordance with a balanced ~~d principle o~ bover~~ental accountlng. Fevenues are generally recorded ln the acco~~ts upon receipt of remittances. Expenditures are recorded when the liabillty for meterlals or servi~es received by the City has been properly authenticated. The City follows the practlce of encUMberlI~ appropr~atlons when an order is placed with a vendor or when a proJect is started, thereby restrictlng the funds until such tL~e as the expenditure ~s ~ade. It is the policy of the City to restrict unappropriated fund balances for any excess of budgeted expenditures over budgeted revenues of the subsequent year. Fund balances are also reserved for encumbrances at the fiscal year end. Appropriations shown in the accompanYlng financial statenents lnclude enc~~brances at June 30, 1971, approprlatlons adopted in the 1970-71 budget, and additlonal appropriatlons made by the Council throughout the current year. NOTE 3 - Fund Classifications and Descrlption Revenues received by the City are from various sources, some of which have definite restrlctions as to use. It 1S therefore necessary to classlfy and account separately for such restr~cted a~ount. The Clty of Santa Monlca maln~ains the f~~d system of accountlng for recording its financial activities. The maJor classifications of funds used at the present tL~e are: -2- I I NOTE 3 - Fund Classifications and Description (Continued) I (1) General Fund - The General Fund reflects the transactions of the norr".al goverIlf11e~tal activltles of the City includlllg administrative, police and fire protection, personnel acquisition, refuse collection, and malntenance of public facilities. Revenues for this ~~d are derived from the City's taxing and licensing powers, from net revenues of Clty owned utillties and fro~ cnarges for current services and use of money and property. I I I (2) Special Revenue Funds - Special revenue funds reflect fln~~cial transactlons 1n which the use of revenues is restricted to a particular use. ~evenues are provided priuc:pally GY a sp2clal tax levy, r€Yen~e ~rOQUCln6 activlties of the individual ~~ds, allocations from other governmental UUlts and charges to other f~~ds for services. I I (3) Capital Pro~ects Funes and Related Funds - Capltal projects funds account for the resources recelved fro~ the sale of bonds and t~e subsequent e~~endlture of t~ese resources for the purpose for whicn the bo~ds were 1nltlslly authorlzed. As 1nterest on the bonds becomes due and payable ~~d the bonds mature, t~e cash necessary to sat1sfy these ooliga- tlon8 is acclli~ulated in the General Obligatlon Debt Servlce Funds. The City's tax levy 1S designated by annual ordlnance to provide for a portion of these requirements. The Ge~2ral Bonded D2bt group o~ 22counts 18 used to record all of the gener~. lo~g term 1ndebtecness of the Clty in~luding the 1nterest obligation as well. The grouplng discloses the total amount necessary to provide for retirement of the lndebtedness. I I I I I (4) Utlllty Operatlng a~d Depreciation ~~ds - Utllity operating funds account for lncc~e and expenses of Clty owned and operated public utillties, and are mainta1ned in a w~nner slmilar to that of a prlvat~ enterprise. Net operating galn, after provlslon for deprec~at:on a~d other contlngencies, is annually transferred to the General Fund. Annually s.n amount of cash has been transferred fro~ tne A1rport, Water, a~d Transportation Operatir~ ~~cs to accumulate the monles necessary for replacenents, betterment or extenslon of the plant and equip~ent of these ut1llt1es. I I I (5) General Service ~evolving Fund - ThlS fund, also referred to as a working capital fU:ld, prov1des for the accountlng of lnternal services ~lthln the varlOUS depart~ents of the City and for the allocation of cost of the servlces provided to the depart~ents benefited. I (6) TrJst and Agency Funds - Under certain circ~~stances the Clty acts as trustee or aGent for mon1es received and disbursed. Accountln8 for such activitles 18 aone by the use of Trust and Agency Funds in accordance with specific governing regulatlOns. I I -3- I I I I I I I I I I I I I I I I I I I NOTE 3 - Fund Classifications and DescriptiJn (Continued) (7) Special Assessment ~Jnds - These funds, while generally classified under Trust and Agency Funds, have the special functlon of accountlng for the colle~tion of assess~ents levied against property o~~ers for improvements which d1rect1y beneflt the owner's property. These fu~ds also account for repayment of the bonds issued to finance the improvements. NOTE 4 - Cash Cash as sho~~ in the financial statements at June 30, 1971 consisted of: Clty of Santa Monica Demand deposit accounts Interest bearing acco~~ts Unceposited cash on h&~d Petty cash in offices Change fund $ 172,868 8,977,617 32,188 1,990 1} 500 $9,186,083 Total Parking Authority Demand deposi~ accounts Interest bearip~ accoth~ts Change fund .$ 94,088 1,448,610 1, 480 $1,544,178 Total City funds on deposit in the various banks during the year have been 5~aranteed by collateral secur1ties as required by State law, except for the funds o~ c.eposlt wit}) the Chase-Eanhattan Ea.'1k of new York who acts as paywg agent for bond and coupon rede~ptions. NOTE 5 - Investments Invest~ents ere controlled by the City Council, and are made prinarily for tvo obJectives. One purpose is to obtaln additional revenue on short term accumulatlo~S of cash. Invest~ents of this nature consist of term deposlts} and U.S. Treasury bllls and notes vith short matur~ty dates, and are class1fied in this report as Cash on Hand. The other purpose lS to safely lDvest funds WhlCh will not be needed withlD a relat1ve1y shor~ per10d of time, but wnich wlll provide future anticipated income for a fund such as the Cem~tery Perpetual Care Fund. Greater dlversiflcation of lnvestments has been ~ade for the latter purpose and includes not or~y ~overnmental bonds but prlvate bonds and co~~on stocks A detall of lnvestments held by the Clty at June 30, 1971 is presented on pages 8, 9, 10 and 11. -4- I I I I I I I I I I I I I I I I I I I NOTE 6 - Fixed Assets ~Jnds designed to provide an accountlng for the acquisltion end retirement of fixed assets of n City are known as the General Fixed Asset Group of accounts. The City of Senta Honica's fixed assets arc not included in the accompaPying financ1al statements due to the lack of sufficient accouht1r~ informatlon relative to these assets. Fixed assets are sho~~ in the financial stat~~ents of the Airport, Transportat1on, and Water Operatlng Funds; except for Transportation, accounting 1nformation has not been accQ~ulated which ~ould provlde adjust- ments for s16niflc~~t retirements and aba~donments of the assets. Deprec1a- tion has been recogn1zed in the Water Department on WI estimated ba515, while depre~iaticn jn the Airport and ~Tansportation ~epartments has been based o~ a useful l~fe prenise. NOTE 7 - Park~ng Authority The Parking Author1ty was created by the City Council p~rsuan~ to enabling leglslation of the State of Ca1ifornla. ~hile a separate oplnlon lS provided in thlS report, the balance sheet ite~s were incluced in the comolned balance sheet of the City, since the City Co~~cil also acts as the Parking AuthoYlty, and tile financial transactlons are accounted for by Clty personnel. NOTE 8 - Retirpment Plans Substantially All City e~pIoyees are members of the FubIlc Employees' Retirenent Syste~ of the State of Califor~ia and beneflts are funded by Clty and enp10yee contributions. The c~ty's contributions for the year ended June 30, 1971 totaled $1,153,595. NOTE 9 - Contingent Liabilities Our exa~ination disclosed that a n~mber of law suits and clalms were filed agalnst the Clty in connection with the operatlon of the Airpor~. As of thls report date, clalms for property value damage ar.d bodily inJury in excess of $5,000,000 have been filed. It is the opinion of the City legal department that these claims will not be enforceable; therefore, no liability or reservat~on of surplus has been recorded on the books of account. -5- I I I I I I I I I I I I I I I I CITY OF SANTA NONICA CJ ASSETS l\.ND OTHER m Cash On hand &"1d ~n banks Petty cash fund Cha'"lge fu..'1Q.s Total (Note 4) Investments U.S. Government bondE Corporate bonds Stock.s Total (Note 5) Accounts and Note Recej Accounts receivable Note receivable Reserve for losses Total Due from other Gov-er:t1!rrc Due from other Funds Inventories Fixed Assets Fixed assets ReseTVe for depreciat Total (Note 6) Other Assets Delinquent assessment Future assessments rE Prepaid insur~"1ce anc Total Amount available and tc for debt service on e Amount available and tc the retlrement of rev I I I Total Assets ~"1d Other Cash includes: Short term investment Federal Agency securj U.S. Treasury bills I I I I CITY OF S~~TA MONICA CITY l LIABILITISS, F.~S~ UNAPP20PRIATED FUl'ID ] I Liabilities Accoun~s payable Accrued payroll Revenue collected in a( Matured bonds payable Matured interest payab: Water consumer and othE Speclal assessment pen~ Unsettled c1alms U~~atured bonds, interE General obligation be Fevenue bonds payable Special assessment be Interest on general e Interest & prern~um 01 Total Liabllities I I I I I I Due to General fund I Reserves 1971-72 budget Encl.L.":J.brances Debt service Contributio~ fron Genel Inventories Prepald insurance Note recelvable Fixed assets Fare redemptlon chaD~e Total Reserves (Note 2) I I I Unappropriated Fund Balar Retalned Earnir~s Unappropriated fund baJ Unappropriated retainec Total (note 2) I Total Liabilities, Reserv Unappropr~ated Fund Balar Retained Earnlngs I I I I CITY OF Gf~TA MONICA FINAriJ"CIAL STAre-.1ENT I I I I I I I I I I I I I I I I I I General Fund U.S. Savings Bond ITH"' 1 - X202h963E1 U.S. Trea~~y Bon~s, 2~ 1 - 94-097H 1 - }""1-6)33 *h/lOOO - 94-096F ~otal General Fund Capital I~prov~~2nt ~ln~ U.S. ?reasury Eonds, 2~~ *9)6/100J - 94-096F 1 - 101-699K *1/2 - 101-708L 1 - lOl-7QIA 1 - 3J5-5J3J 1 - 305-5~):jK 1 - 345-5073 1 - 345-5-08J 1 - 345-7J9K 1 - 18311, h'h 4 7092/5 (D~ each), 4~ Total ~QP~tal ~provenent Fund Self-In~urance Y~nd U.S. Savlngs Bond ":I" 1 - X2J24964H Sewer of 19L3 Bond Fund U.s. 7reasu:y Bonds, 2~ *9/100 - 94-096r *1/2 - 101-700L Total Sew~r of 1948 Bond F~d *EDnds split into ~~~d3 n;VESTI1EK? SECD7ITiES JUlm 30, 1971;, -8- Due Par Value Current Book Value 10/1/71 S 10,000 $ 10,000 12/15/72 " 100,000 lCJ )8-::) 400 .?Oo,OO~ " $210,400 $.?10 ,002 12/15/72 $ 90, 600 " 100,000 " 50,000 II 100,000 II 10,000 IT 10,000 IT 10,000 II 10,000 11 10,000 8/15/72 100,OGO " 4,000 $4931823 $494,6)0 $1.93 823 - , 10/1/71 $ 10,000 $ 10,000 12/15/72 11 $ 9,000 5'J ,OOJ $ 58 871{- 1 . $ _5~1000 $ 58,871+ Contlnued on next page I I I I I I I I I I I I I I I I I I I CITY OF St~~TA MONICA FINANCIAL STATEMENT Ir~ES~~~;T SECURI~IES ~m~E 30, 197J Cc~etpry ?~~petual Care Fund Corpora t.~ Donds Eeneflcial Fir.~~~e Co., 4!i 20 - 226/2h-5 Eu.rrOUS:1S Corp., 4-5/8% 1 - ?j,j.l1994 (r1) 1 - R52J22 (19;':), Reg:.stered 1 ~Xo.,,~? I'~,,) - .~, _OJ 5~ \ J..'--~" Col~~bla Gas Syste~, 5-1/8% 9 - )':2330J/1, II23383/9 ForemosL-l'~cKesson, Inc. 6'f; 1 - RB453, ?eglste:red General Instr~~ents, 5% 20 - F~25151/70, 1 - RX6452, ~egistered Household Finance Corp., 4-3/8% 15 - 113712)/43 I111ll0lS Ter.mlnal Railroad Co., 4-5j8~ 9 - ~.f5103/4, E5106jl2 Internat:.onal ~ln~ral & Chexl~als, 4~ 1 - FX33~8, Reglstered 1 - Fx4613, PeSlstered Keystone Steel & ~ire Co., 4!i 5 - ~rr071j75 Martin Mar~etta Corp., 5-7/8~ 30 - K46?8/27, Reglstered Northern I11inOls Gas Co., 4-5/8% 10 - ~:23158/67 -9- Dae Par Value 3/1/92 S 20,00:) 5/1/94 30,000 6/1/86 9,000 6/15/94 20,000 10/1/92 30,000 7/1/87 15,000 12/1/87 9,000 1/1/91 10,000) 1/1/91 10,00J) 10/1/81 5,000 4/l5/92 30,000 7/1/85 10,000 Current Book Value $ 19,815 32,834 9,019 2J, 466 24, 202 14,963 9,054 18,581 5,038 29,662 10,080 Contlnued on next page I CITY OF SANTA MONICA FINANCIAL STATUffiNT -I Irfl~S~~~:~~?IT S~ClTF:I~I:iS I Jurt:~: 30,. 1971 Ce~eterY ?c~n2tual Sare Fund , - I Corporate Stocks (Go~~on unless noted) I AddreEso;raph ~~tJ8rGph Corporation Amerlcan. C~TEt!1S~~d ~\mer~ccL Telephone 2nd Telegraph AV20 (PYefcr~cd) B&~k of New York 8c~~any, Inc. Chase ~,;!a:1hatt&n ] ~o~~~a~e & ::;eal t~r CO:i2TIcrlTr'rTeal t~"1. :d: .s011 CompanJt Contl~~at21 Oll Co. Do? ~h2~~c31 Company Federatea Dep~rt~ent Stores I I General ~~eTl2~~ TTanspo~t I General Ele~trlc Cc~?a~~; General j loto:rs Coy?:)rf'~~::..on Ge~eral ~elepnc~e & Electro~lCS Gor~Or2.tlon I Gulf O~l Co~cra~ion In~e~~",+-,..~..,l 8,-,1""""0>"'0 ~ r;>"'1f>'~0""'''';''' (Dro.P"''''r'''Q-) ~,...: __"~""'~"-''':'.1~ _........ ~J:~- .1.:-...... 0:..L........ "'---b..........._'J..~~... 1.::::_..._ '- Va--. ('"c.:......... f~ 1 1..:.11 ~ n.j'!"':1 .?..". 0n O....~-i ro~' .~rY"""'1J8'1"'J' (Prn..p~'::..r"V",::.~) ....k _ .....,.~-+- _ +...... ......... ......, -....1'..-1___... _......~ \JV~ _..._ ...........L.......... .............., Kenn~co~t Copper Co~po~a~ion 1l0r+"""'rn 11' "r.OlS ro"''''''''o (Fro"" "'o'~""~""-""a1~;'" E,q)("P-J.~~) l~ u ...l-..J ~_ _. ....J.....A"-.: '-...0. .L .J.... V ~:.L..lv.....,........ t..;.... ___ _ _ Paclflc Gcs & Electri~ Cowpany P&~ha~Gle Easte~n P~pellne Co~?~ny Pet, Inc. Chas. Pflzer & Co~pa~y, I~corporated Phll11pS Pct~oleQ~ Ccmpony Purex Corporatlon. Ltd. Santa Fe Indus~r~es, Inc. Sea~s, FOCD~~k & 80~pany SecurIty Pac~~lc Natlonal B~~~ of Los lh~~eles I I I I StaIlciar6. Oil of eal:. form.a Star.dara 0]1 8c~?any (few Je~sey) Ter~~eco, ~nc. (FTef2rred) The Travelers Corporation Union~e~~ca, =nc. ~estern ~o~coy?oratlon Westlngho~se =lectr~c I I Total Corporate S~ocks I Total Ce~etery Perpetual Care Fund I I *Price pald or co~yu~ed to ln~l~de splits, stock ulvidends, ana na~lt~ple purc~ases of s~~e sto~k. I -11- i~iuY'l.ber of f.hares 300 500 hOG 500 400 1,000 315 600 907 8J0 500 1,OJO 400 50J 622 200 2JO 400 10 308 412 600 1, 2JO hOG 650 500 50J 332 321 325 200 500 622 400 500 17,524 Cost :p~r Share* Total Cost $60.12 $ 18,035 26.81 13,406 57.57 23,030 81.82 40,912 57.00 22,8J1 h3.?7 43,?6? 41.33 13,020 34.16 20,498 51. L.lf 46,653 2.0.06 32,051 34.36 17,180 44.77 41.;.,768 64.17 25,666 32.83 16,1.]..1 16.31 10,lhL 86.)8 17,3)6 95.49 19,097 30.54 12,217 34.58 10,649 23.81 9,809 41.00 2)+, 5:;5 17.36 20 , 827 22.03 8,832 26.48 17,2l2 29.34 lli,668 43.78 21,889 28.65 9,511 57.97 18,609 69.58 22,613 91.36 18,212 35.54 17,770 16.96 10,51.8 38.21 15,284 83.25 41t626 $ 719~274 $1 ~ 029,. 229 I I I I I I I I I I I I I I I I I I I CITY OF SftFTA MONICA FINANCIAL STATEMElJT GE~'ERAL GCVERIMENT REVENlIES 1970-71 VII. Charges for Current Services Weed cleaning assessments Parking ~ Business Improvement District Assessment ,:kl Parklng & Buslness I~provement District Assessment. #2 Parking structures noni,hly fees Poun.d fees Resurracing utility cuts - net Building investigation fees Special police services EX8.-'1l1nation fees Garbage and re~~se collectlon fees Durap use fees Map, speclficati0n, and publication sales Recreation and Parks: Harbor revenues $ 40,290 SWimming pool receipts 30,076 Sports, specia~ events and crart classes 29,849 City-operated beach parking lots 387,896 Leased beach parking lots and concessions 89,572 Park lights 3,454 Rifle range 3,661 Recreation and Parks bU11ding rentals 3,370 Other Park rentals and concessions 1,152 C1V1C Auditorium 341?484 Zoning a!ld variance fees Library fines and fees Services rendered - utilities VIII. Other Reven~e Sale of real and personal property Utility enterprlse contributions (net) Donations a...'ld contributions Other Total Revenues -13- $ 14,020 322,977 36,389 25,512 7,091 32,575 730 17,581 663 857,691 8,557 1,795 93<",804 7,980 57 ,072 63?851 15,,975 442,702 8,061 48,7"39 $ 2,385,288 515,11-77 $15,886,562 Percentage of Total Revenue 15.0~ 3.2 100.0:f-; I CITY OF SA!>l'TA BONICA - ----- ----- -- ----- --- - -- ~- I I I I I I I I I I I I I VIII. I I I I I III. VII. FINANCIAL STATEHElrI' GEN"E!<AL GCVFRW.i~rT EXP,-~XDITLmES 1970-71 Public v,lorks Engineering and a~~nistration Traffic engineering Traffic sJgns and strlplng Streets, storm dralns, street Ilb~i ;"-L!J,s l-~lti..Ll.i.t...:na!1.::~ Parking facil~ties SanlterJ sewers & sewese disposal Waste collect ton and disposal Heed cleaning City Yards ma:ntenance Undlntributed public works i~provenents & equipment Total PU.b1ic Horks rv. Heal th v. Librarles VI. Welfare Recreation and Parks Recreation and beach Harbor Parks Clvie Audltorlum cleaning Beach parking lots Total Recreation fu~d Parks Total E^~enditures Expense $ 258,108 28,708 180,Sll 1,077, S53 646, 1~39 261,863 783,581 19,019 31,476 3 20r :-:), c.,.....'" , ~ , VV'.J 240 778, 333. 3,700 837,765 104,329 624,259 232,226 84,246 ~" .'. 1,L;02,o2~ Capi tal Outlay $ 1,058 3,068 156,939 !+ 30,797 15,094 77,021 9'J,452 1,788 12,28'3 T31f, )JO 81848 24,895 6,375 339,.817 6,236 11-3.552 !]20>J75 Fund Balance Additions - Net (Page l6) $13.766,935 $1,830.181 r _ -......____ Total Expenditures & Fund Balance Add~t~ons -15- Total $ 259,166 31,768 337,750 1, 51~,T:"'.J 661,553 338,884 874,033 19,019 33,264 12,283 1.: 1052, 50J 240 787,181 3,100 862,660 110,704 963,276 238,1.:.62 127,793 2,302,9:)0 $15,597,166 289,396 $15,886,562 Percentage of TotaJ Exper:.dJ. tun"'s 26.2~ ---2.:Q 14.8 100.0% I I I I I I I I I I I I I I I I I I I CITY OF Sl~{TA MONICA G:C~:~AL Fl.n:n B.lL.:0;C~ S}I2 EI' JlCZ 301 1971 Assets Cash (r~ote L) Investm2nts at cost U.S. Govcrr..ment bonds (note 5) (Page 8) ACCOU:1ts receivable Due fro~ otner funds: WelfaT'e Fund Trafflc Safety Fund $ 616 ,2010:)0 Total Assets Liabilitles, Peserve and T\md Ea.1Flnce Liabil i. ties Acco'.mts payable Accrued pa;rTo11 $ 96,169 292 0:)2 ,_. -- Reserves (Note 2) Rese~Je for encQ~brances ReEerle for 1971-72 budget 524,037 582,821 Fund Balance Total Llabil:1.ties, Reserves and Fund B<.U.a.nce *Includes: Certificate of deposit Federal Agency securities $ 850,0:)0 2,159,327 $1t989} 32 ~ -17- FIN.~l~~IAL STAre.rENT $3,040,584* 210,002 71,959 20,676 $3,34'3~221 .$ 388,171 1,106,858 1,848t192 . $) ,3h 3 ~221 I CITY OF SAInA ~~OTlCA I FIN/J~CI!~ STAT~-ITST I G EI:'JERAL ~~J:;U S11ATL1..=1E~ OF ?1~rC~ITjT - EST~~~\~D ~4~JD PSTLJ1\L YEt;;? r~.~I"~D f.-TlI-:S :'~: 1971 I Sstbm-::ec. Reye:nJc Actual Revenue Excess or (Dcf ~ci enC'y) I PropE'"::ot:r ~a}:es Cu~~cnt - se~u~ed I C1.1rre"'1t. ... illl'3 2C:lrC d !},:::lincl'len:. - Se2Urec. and unsecured Penalt~€s and jrr-::~rest $ 523,O~3 65,]51 23,lTl 1,85h Z{,C80 6k:; , J 7-;:; :5 52?,h62 68, 2'00 16,535 1, 908 ho;:>,235 b/~.;~ ~Ln ___ ..;L , ____ ....... $ 6,459 3.050 (6,63;:)) 54 15,235 Hi,1f}2 I A~rcra~t as~essment5 Other Local Tayes I 'r'! ~ lfT~r:.=:::::~ses I -l9- 8L.,500 86,361 1,861 2,323J0'7).j. 2,121,3l2 (2Jl.762) 25,0::;0 28,354 3,354 2';)0,00.) 2;)8,109 8,lCS; 970,08J 1 , 0 55 , 33,5 8).386 470.08J 470 7')~ 9,759 I .... , I .... ...... 4,072,)7"-i- 3, ]7), 231 --rq~ 293) ,-"'....J' 14, 500 15,223 723 900 1,914 1,014 8;],088 106,479 26,h79 30,00J 32,455 2,455 23,580 45,810 22,310 9,580 10,031.;. 534 9 , Eoo 10,853 1.058 168. ?'J:J 222,~(73 5h.573 ( 325,OO:J, 385,961 60,961 317 , 805 547,919 230,114 123,56') 141.742 18,182 441)3S5 639:661 2h8,296 3,500 3,659 159 2, 500 2,438 (62) 75,0'JO 90,396 15,396 525,00J 52j,988 4J988 128,7TJ 129,342 572 655,273 660,238 4,960 994 994 h390 ,01,8 ~, 1{-17 , 0 5 5 27 , 'JO "( Continued on next page I Salcs a~c use taxes Real pro~cyty trc~sfer taxes 7ra~s~ent O~Cilpancy taxes Ubl,-ty t!!X B~Slne3S llcense tax I Llcens~S and ?ermits &"1~f.'I3.1 licen:.es I In.cycle lice~ses :B~:!1d::..n:; p:::r::iits Ele2tr1c21 perm~ts Pl~~bin; permits Street and se\""er peTIIli ts Other licen~es and permits I I Flnes, Forfeitures and Penalties ~unicipal Co~rt ~ines I Reven~e fro~ Use of Money and Property Interest income Rents and conceSSlons I I R~renue fro~ Other A~enc:es Trailer coach llcenses Federal ala - clvil cefense Alco~olic beveraGe llcense fees State ei3arette tax appo~tio4~ent State property tax rellef Mo~or vpnl~le In lleu State h1g:rway carrier l:icense tax I I I I I I CITY OF SA}:Tf-.. VONICA - ~ - - ------- FDU-J'JCIAL S'J'A~illNT STAE"'~rNf.r 03' EX?E:.mT'IUHES -1 (~?7.~::~lLL F"L:;::; i ~:: ~.>~"lj1:fF-R!~!~:>::S CCY~PP_?ED- t.,TITI{ PJj-r'IIORlZ/\TICI-IS L:;.;r~.:I) (.T~JT~~ 221- l'J~rl I I I I I I C~t;{ CO"Jllc:rl Cj ty- !.~qn2t;er Cl "tJT Cler~: Fl e~~ lens L1CCrSG ad~ln~stYatlon AccG:.lnti~:::; D:!t.e. Pro~e;:-SlnG Trcns,:rr:; PurctctS"-D_; and S"loyes Clty Attorney Pe:'sonael CJ ty :]8.11 l::u'lQ.:n~; Pol~ce pro~ect:on iLl'}l~al re;;l...;.lr;:t-lcn FJre :protcct~on Bl.1.1J.nl.:n~~ re';ulatl0n Ci'\'"~l defense EnGl~csr~ng ~ ~~ollc ~orks admj lEe; t rat.ion Tra~:~c enGlne2TLng Parking fac:lltles Traffl~ s:g~s and stTipjn~ Streets and S~O~ dralns Sanl ta!"~v sc......re:r-s I I I Waste collec~lon ar-d disposal MlSC. unGist~lbuted maintenance Real th service All ott.er I I I I I I r-c;:.~}-~ Avpro- Encun- prl8~lons brar.ces aCe '~/' --'"' 17, o jJi j,. .$ 15,614 C(3,23J eO, '240 11, ~:}:) 6;.;,JJ3 19),7J-j 123,J23 59,341 65,677 179,96L. 88,2~) 231,lJ9 3,(2),515 46,391 1,859,611+ 211,3G5 8,139 299,754 37 , 375 69~r ,260 414,162 1,186,6G7 819,883 954,8l1 78,h68 9'00 61h,6ti6 ~1 , i, 5b , 365' Expenditures Transferrec. to Other Funds: Capnal fu:provement (pa;e 37) (8;9,515) On street perkln2 neter (Page 39) (22J,20a) St~te gas tax (Page 42) (7,580) 1raffic safe~y (?age 4J) 335,OJO) 1 lJ.?? ?l;;) , --<-- ,- / Total General Flli.d (Note 2) (P~;e 18) ~)l 0 f',,,::!?,: p;") ..,........ J v J --": ./ _J -21- E xpe nC::~_ - tures $ 14,2S3 61, 5~5 81,23~ 13,h35 7b,5:)~ 187,856 123,635 55,102 61,1;~3 175,50J 75,673 225,2)6 2,750,O;J 43,0:27 1,608,233 177,62:) ,.. 5,330 259,166 3- 7 ~p 1., ,b..... 661,583 266,125 885,629 338,834 874,033 45,546 240 592,,0] 5 9,695,7D} (355,293) (221,769) (7,500) ~3<::; cJY') ..... ~'J ",,,,v 919~502) $8,776,138 at 2(30/7!.. $ 194 7; 22 469 39 416 143 467 19,2h9 221,683 29 5,050 203 6,393 106,291 112,516 463,159 31,910 1,811 11,135 9bl,2SY (457,222) ()+57 , 222) $_ 52lt ,0"3'7 Unencu''''l- bered Ft~J: ance -- $ 1,152 11, 590 (1,018) (2,13'3) 6,336 2,378 353 4,159 4,495 4,047 12,lf03 5,356 256,176 3,364 29,648 33,716 2,803 35,538 5,404 29,279 41,7h6 185,522 16,960 48,863 31,111 660 11,496 701,L-09 (47,000) 1,569 (4.5,)+31) $ 735/178 I ClTY O? S~~~A ~8NI~A FINl.,N8IAL S'l'A~~.NT 559,814 564,914 5, 100 55,721 52,'32) 2,608 19,817 9,264 (10,553) 1,585 1,197 (388) 189,000 341,484 152,484 1, 5QO 3,035 l,535 3,500 3,661 161 18,000 26,019 8,019 45,0:JD 40 , 290 (4,710) 15,OGO 16,703 1,703 14,000 13,373 (627) 2,616 2,616 7,9('0 3,564 (4,336) 930,837 ~)o84,410 _153,612 ;$1,591,007 $!}75~187 $ 161,180 I I l!USTC, l,\j)~~~--:::- ~l: .-~ -=i~=} .~ Rf r.". ~-~ '~~:IOI~ F'ln-~i) Sf 1..7:~ ~~.~Ir Q~L R~ ':.'~:~7;~ - E3'T:: ~ :~rzr:D f~?!) !1.CT~Jl\L Y?J!~."S 2i~r:~J J1JI.I.~ .~j__] j71 I Esti'7l:::.-L..: d Feven"J.c I Beacn ActlV:i~cs Rcven\J.e ::!"O"..~ USP of !~oney 82.1Q Prop(!rt:;l L~&~~d te~~~ parklD, lots a~d conc~ssions 77,372 !l; '+ I ReV2~le fro~ rt~~r A;enc2es Couney 0:: :,OS ;.l1,;eles Si..ate Gr8.uts lOO,ODO 129,793 I CryarGc~ for CuTrent S2~1~~2S Cl~Y Op2r~T,C~ cench parKlng lets Special e-ier),ts 350,000 2,00::> I othCj~ Re":Terl1.1(:?S I Sale of prc~~rty DOHe.tians arId contrl t-.,J"tlcns OtheT 1,00J I Total Beach A~tJvities 668,170 I Uplend ~ctjvities Propert.y taxes Curren~ - se~lred Current - unsecured Delln~uent - se~ured and unsecured Penalties and lnterest I I Char;es foy Curre~t Services C1VlC Audl~orl~~ Ball Park Rlfle ?an~e Speclal events Harbor LlTIco1n SWi~~~ilG Pool MunlClpal SWlr~ing Pool I I other Revenues Donatlons &~d con~rlbut}ons Other I Total Upland Activitles I Total MUS1C, Advertlsins & Recreation Fund Revenue (Note 1) (P8.be 22) I I -23- Actual Exc('~...s or Re......-c:rl:J'::' (Do->f1 ~ L"n.~'r) "_ - '_ c.. .....,) $ $ 8') J 5'72 12, 200 10.:) , 0210 91,455 (38,343) 388,977 30,977 3,830 1,830 119 119 250 250 1,,535 535 667 , T~8 7, 568 I CI~{ C~ S/,~~TA r.:r'If]J2fl. FDI1,1-1CIAT.. ST!\.~(::;~;rr I I pv'::nrc E':J:",D I3.:r:I.J\:::= .S::~-~~'-:' Jlr:;~ ~O. l'~ 1 ~ - . I Asset I en s~ (-:o-:e 4) I J..J.Rl.~"1 ': -:- i er-:., :?:..'" -;'--,-i'"'-"'e pr:C ~'\.J~-'d Pale::::. ~ '':: I Ll9..t~l,'~, e::: ;\ccc. TIts pr"~:.-C-:l2 Accri.).-~d r~~ircll I Fe;Jerve fo~ ~n~u:~:tran:2cs (~~GGe 2) I Fund Balc;r:ce Total Ll~bllltlfSt ?e~erve and Fund B31a~ce I I Alr:iliY~~IS OF C;-:'r:~s I~~ 1~~~!{0 3jili~'\r~~2 Y2{U~ I~-'L~~:D JT;nE 30 ~ 1)71 I P"'v"enl"p (-p;:- -'R> 2:") . - _!.A,,~ _ :::J.b- __...... Expenb i...:'1Yes (PaGe 26) I Excess of ?even~~ over =xpencitures Decrease ~~ ?2senre ~or 3n~u~~rances I IncreE:.se ~..... Fund ~-3ala.nce QUrlD3 year ..L.L Func Bo.lence a.t June 30, 1970 Fund Eal~nce ~... Jllne 30, 1971 C"~~ I I I I I -25- S 21 2,701 S 71,070 62,047 $ '.l.2 '!~55 ....... ......-.-........-- -~-~ .3 2,'722 73 2"9 (,;"'" - , d"_'J d> ~A ~~C;!:;. <P _>"S2..:...:::. $ 9,023 50 9,073 20, 58"( $",,29,660 I CIT'7 01:;' S,-t.~~;T/~ }h)r-~ICA 1------ - Fll~r;\~ICJ AI. sr:'1..~m~:f:1~T I } -I ~-=~.:j,,:r\1.~3 Fl.r;~ u Bi~I i..7~2~ f~lI=:~T JU:;~ 3J t 1-~71 I r\ssets I Cash (T;ote 4) *J:rote :re:;c:"'l'..table Totel /\.ssets I I Liablli~ie~, S<2el"'es and }"'J.nd }<31H'1c(: I Lla::- :li tl.E~3 Acc:cmn"cs :.oaya~)le AccrJ.ed lXlyroJ 1 I R~~~--w-;tJ;.o...- ("':'.iO-"-A ,,) ......~...........~ .... 0 .J." \..0...... C.-~ Reser;e for cn~rr'rran~es ?eser~e for note re~elv~cle I Fw::i E21a~lce I Total LiaClllties, PeserJes and Fu~d Ealan~e I ANALYSIS OF CSl'2;:;::::S IN rurm B.4Lil...HC:C l'EAP mITJED LT1JrZ 30. 1971 I Re""'nu"" (p" c"e 2,T) .. ..- ~ ~ ...-""'':..; .... E}~cndltures (PaGe 23) Excess of ExpendItures over R~Jenue I Decrease in ReserJe for Encumbrances I Decrease In Fund Balance durlng year Fund Balance at Jur.e 30, 1970 I ~~d Balance at June 30, 1971 I *No~e rere~vatle is secured by deed of trus~ on old l~~]n L}lrary property, a~d 15 payable $13, 580 a year. I I -27- :5 11,261 3Q , 9.38- 15,391 74,250 $758,322 787,181 $ 89,2l1 74,'25~ .l.,/'- he1 'y.A..r<~_.! I.J.~. $ 42,249 89,641 31l5~1 Q.l,(~ )'61 i.r' ......~.l~ $(28,859) __4,845_ (2)+,014) 55,5B5 $ 31,57,1 I ---- ------ ---- - ------- - - -------~ - ---- - - ----- ------ - - --- ---- - I I I I I Reserve for 1971-72 Budget Fund Balance I I I I I I I DecreaGe in Reserve ~or "-'dget I I Fund Balance at June 30, 1971 I I I I CITY OF SANTA MONICA FINANCIAL STATB'~'CNT T.JELF ;.~~:s FUr-ill J3A"L.4li~E SHEET Jm~? 30, 197!. Liabill~Y, Reserve and Fund }'~lance Due to General ~~d Total Liabillty, Reserve and Fund Balance STATTI;{ENT OF REVEr~~ EXPElillITUPE AND C:ltu.:GI:S IN FL'IlD BALftl'JCE YEA.R Er'DED ,;u.;;r; 30, 1971 Revenue (Note 1) Property Taxes: Current - unsecured Delinquent - secured and lli~secured Penalties and in~erest Expenditure (Note 2) Contributlon to Family Service, Inc. Excess of Expenditure over Revenue Decrease in Fund Balance durip~ year Fund Balance at June 30, 1970 -29- .$ 1,675 256 25 :$ 676 __ _J ~19) $ -0- $ -0- $ l,956 3,700 (1,744) 616 (1,068) 1,068 $ -0- Appro- Encum- priations brances Unencum- at Expendi- at bered 6/30/71 tures 6/30/71 Balance Parks $1,038,784 $963,276 $ 62,374 :$ 13,134 Transferred to Capl tal Improvel'lent Fund (Page 37) (343,260) o.?6,41,7) (13,54O) (3,303) Total Park Fund (Note 2) (Page 30) $ 695,524 $636,859 $_48,834 $ 9,831 I I I I I I I I I I I I I I I I I I I CITY OF SA.lJTA HOiHCA l'P.TIK Fu:;m STATTI,~NT OF PEVI;lr'.J~: - ESTr:.\'i'ED AND ft,::'l'IJtu-, YEAR E~m7D J1JiiE 3D, 1971 Estimated Revenue Property Taxes Current - secured Current - unsecured Dellnq~ent - secured and unnecured PenaltLe~ and lnt~rest $575,195 57,7h9 20,539 J , 6" 3 Revenue from Use of Property Park rentals and conce3sions Relocation housing - net 900 5,000 Charges for Current Services Metered park lights 2,200 Other Revenue Sale of real und personal property Other 2,800 Total Park fund Reyenue (Note 1) (Page 30) $666~02~ STATE1:,iENT OF EXPENDITURES AND ENCL~mPANCES Cm4.P&~ED WITH AUTHOP.!ZATIO~S YEAR Elill~D JUIJE 30, 1971 -31- FL",{ANCI1\L STAT.E::Et"!T Actual Revenue Excess or (D":)ficl~ncv), , . ~ $580,577 60,452 12,172 1,426 $ 5,382 2,703 (8,367) (217) 1,486 4, 680 586 ( 320 ) 3,454 1,254 840 3?748 $9.68,~-l~ 840 948 .$ -?l_8D2 I I I I I I I I I I I I I I I I I I I CITY OF SA..~TA MONICA FINANCIAL STATEMENT RE'IIRI:ME;."'T FUND STATE!-fENT OF REVE:'ruE - ESTDii\TID AND ACTUAL YEfill ENrSD ~illlE 3D, ]971 Estimated RevenuE: Actual Excess or Pevenue (~efici~ncy) Property Taxes Current - secured $817,328 $824,698 .$ 7,362 Current - unsecured 77~695 81,331 3,636 Del:.nquE'ut - sect!1'pd and unsecured 27;632 ~i,087 (6,545) Penaltles &'1d l~terest 2~21l ,.. 65 _2. 'Z{o - Total Retirement Fund Revenue (Page 32) $924,866 $929 384 $ 4,]18 . , . STATU1ENT OF EXPb1IDlTURES COHPA.l\ED T~lITH AUTIIOPlZATIOHS YEAR ElillED JtEE 3Q, 1971 Utility Enterprise Charges Airport Transportation Water Appro- Expendi- UneX1?ended :e~iations tures Balance $1,228,503 $1,160,547 $ 67,956 863 (863) 1, 500 1,458 42 (15,000 ) (9,273'> ~5, 7:?7) 1,215,003 ;I;,,153,595 01, 408 (10,981) (212) (170,785) (22,822) (38,644) (1,882) ( 220, 410) _ (24,916) $ 994,593 $- 958.l01 $ 36,492 ( Current servlce contribution Prlor service contribution Administrative and mlscel1aneous Expenditure relTIDUrSements Total Retirement Fund (Note 2) (Page 32) -33- I I I I I I I I I I I I I I I I I I I