Comprehensive Annual Financial Report - City of Cerritos

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City of Cerritos Notes to Basic Financial Statements, Continued For the year ended June 30, 2010 2. CASH AND INVESTMENTS, Continued E. Investments in State Investment Pool The City is a participant in LAIF which is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The City’s investments with LAIF at June 30, 2010, included a portion of pool funds invested in Structured Notes and Asset-Backed Securities: Structured Notes: debt securities (other than asset-backed securities) whose cash flow characteristics (coupon rate, redemption amount, or stated maturity) depend upon one or more indices and/or that have embedded forwards or options. Asset-Backed Securities: generally mortgage-backed securities that entitle their purchasers to receive a share of the cash flows from a pool of assets such as principal and interest repayments from a pool of mortgages (for example, Collateralized Mortgage Obligations) or credit card receivables. As of June 30, 2010, the City had $83,016,653 invested in LAIF, which had invested 5.42% of the pool investment funds in Structured Notes and Asset-Backed securities as compared to 14.71% in the previous year. 3. PREPAID EXPENSES Prepaid expenses consisted of the following at June 30, 2010: Rate Stablization $ 480,395 Electric Utility Fund Reserve 2,538,764 Other 376,980 Total 3,396,139 The Electric Utility Fund has prepaid expenses representing payments for the City’s share of fuel reserves, capital reserves and debt service reserves relating to the operations of the Magnolia Power Plant. Prepaid expenses as of June 30, 2010 for this Fund consisted of the following: Fuel reserves $ 651,211 Capital reserves 1,492,055 Debt service reserves 395,498 Total 2,538,764 44
City of Cerritos Notes to Basic Financial Statements, Continued For the year ended June 30, 2010 4. NOTES RECEIVABLE Notes receivable consisted of the following at June 30, 2010: Balance Balance June 30, 2009 Additions Deletions June 30, 2010 Residential Assistance Program $ 2,040,000 $ - $ - $ 2,040,000 Residental Loan Program 314,356 41,150 - 355,506 Total $ 2,354,356 $ 41,150 $ - $ 2,395,506 5. INTERFUND TRANSACTIONS A. Governmental-Wide Financial Statements At June 30, 2010, the City had the following internal receivable and payable: Internal Receivable Governmental Internal Payable Activities Business-Type Activities $ 8,316,367 B. Fund Financial Statements Due To and Due From Other Funds - At June 30, 2010, the City had the following due to/from other funds: Due from Other funds Due to Other Funds Governmental Funds General Governmental Funds: Redevelopment Agency Debt Service Fund $ 1,796,734 Redevelopment Agency Capital Projects Fund 1,734,145 Nonmajor Governmental Funds 29,136 Enterprise Fund: Reclaimed Water Funds 131,615 Total $ 3,691,630 The interfund amount between the General Fund and the Redevelopment Agency Funds are for administrative expenditures paid by the General Fund on behalf of the Agency. All amounts were repaid to the General Fund by August 31, 2010. 45
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City of Cerritos, California Compre
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City of Cerritos Comprehensive Annu
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City of Cerritos Comprehensive Annu
Page 14 and 15: City of Cerritos ORGANIZATIONAL CHA
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Page 18 and 19: Honorable Mayor and Members of the
Page 20 and 21: OVERVIEW OF THE FINANCIAL STATEMENT
Page 22 and 23: GOVERNMENT-WIDE FINANCIAL ANALYSIS
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City of Cerritos Statement of Net A
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City of Cerritos Statement of Cash
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City of Cerritos Net Assets By Comp
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City of Cerritos Changes In Net Ass
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City of Cerritos Change in Net Asse
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City of Cerritos Assessed Value of
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City of Cerritos Direct and Overlap
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City of Cerritos Property Tax Levie
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City of Cerritos Ratios of Outstand
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City of Cerritos Schedule of Direct
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City of Cerritos Legal Debt Margin
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City of Cerritos Demographic and Ec
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City of Cerritos Full-Time and Part
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Comprehensive Annual Financial Report - City of Cerritos

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