California Comprehensive Annual Financial Report - City of Temecula

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City of Temecula Management’s Discussion and Analysis - continued Fiscal Year Ended June 30, 2009 --------------------------------------------- Governmental Funds. The focus of the City of Temecula’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City of Temecula’s financing requirements. In particular, unreserved fund balance may serve as a useful measure of the government’s net resources available for spending at the end of the fiscal year. Proprietary Funds. The City of Temecula’s proprietary funds are the internal service funds, which are used to account for activities and services performed for other departments within the City on a cost reimbursement basis. The major factors in fund balance changes are as follows: • The General Fund recognized an increase of approximately $4.5 million increase due to revenues greater than expenditures of approximately $2.4 million and approximately $2.1 million of net transfers in from various city funds. • The Community Services District Special Revenue Fund recognized an increase of approximately $1.5 million due to revenues greater than expenditures of approximately $2 million, less approximately $497,000 transfer out of to finance debt service payments. • The Redevelopment Agency Special Revenue Fund recognized an increase of approximately $3.2 million due to revenues greater than expenditures. • The Capital Outlay Capital Projects Fund recognized a decrease of approximately $9.2 million due to the City completing public improvement projects. • The Roripaugh CFD #03-2 Capital Projects Fund recognized an increase of approximately $1.3 million primarily due to interest earnings on funds held in trust originally deposited as contributions from developers to fund infrastructure improvements in this CFD area. See note 15 of the financial statements on pages 60-62 for further information regarding potential contingencies and legal matters regarding these contributions. • The Redevelopment Agency Debt Service Fund recognized a decrease of approximately $10.4 million primarily due to a reimbursement payment made to a developer for its construction of a parking garage as part of the expansion of the Promenade Mall. This payment was financed from the issuance of the 2007 Tax Allocation Bonds issued in the prior fiscal year. • Other Governmental Funds, which are nonmajor funds, recognized a combined decrease of approximately $15.6 million primarily due to revenues greater than expenditures of approximately $7.9 million, less approximately $23.5 million of net transfers out to finance qualifying General Fund programs and various capital project activities. These funds are further detailed beginning on page 65 of this report. See Independent Auditors’ Report 9
City of Temecula Management’s Discussion and Analysis - continued Fiscal Year Ended June 30, 2009 --------------------------------------------- General Fund Budget Highlights The difference between the original budget and the final amended budget reflects a $12,649,331 decrease in appropriations, including operating transfers out, and can be briefly summarized as follows: • $9,700,000 net decrease in Transfers Out is primarily due to unanticipated project cost savings related to the construction of the new Civic Center Project. This amount was used to create a secondary reserve account within the General Fund. • $760,758 net decrease is Non-departmental is primarily due to an approximately $900,000 reduced Revenues Excess Sharing in Temecula (REST) transfer to TCSD due to accumulated fund balance reserves in TCSD funds, offset with approximately $165,000 increase in property tax administration costs due to the pass through of system development costs incurred by the County. • $700,574 net decrease in Police is primarily due to the unfunding of vacant Special Enforcement Team, Community Service Officer, Motor Officer, and K9 Officer positions. • $663,731net decreases in Fire is primarily due to the delay in opening the Roripaugh Ranch Fire Station and the related staffing costs of that station. • $466,248 net decrease in Community Development is primarily due to a reduction in project staff positions and consultant services caused by a decline in related development activities. Actual revenues, excluding transfers in, received for the General Fund were $537,502 higher than budget. Taxes revenues were under budget by $522,729 primarily due to a decline in local retail sales. Intergovernmental revenues were higher than budget by $186,139 primarily due to unexpected decrease in State Department of Motor Vehicle Administrative Fees, resulting in increased motor vehicle license allocations to the City, coupled with additional reimbursements from the State of California for Strike Team responders. Charges for Services revenues were under budget by $293,734 primarily due to a decrease in community development activities. Use of Money and Property revenues were higher than budget by $546,336 primarily due to gains in changes in the fair value of investments caused by declining interest rates. Miscellaneous revenues were higher than budget by $193,931 primarily due the City taking title of Temecula Lane units and subsequently sell them to a developer. Non-departmental had expenditure savings of $1,050,134 primarily due to program savings in TCSD admin charges, resulting from less General Fund contributions to the Library program. Police had expenditure savings of $1,033,693 primarily due to not all dedicated positions being filled throughout the year and the State paying a greater share of County jail costs, resulting is less booking fees due from City. Fire department had expenditure savings of $995,240 primarily due State furloughs and staffing reductions for Fire administrative support services, coupled with unfilled vacancies. See Independent Auditors’ Report 10
Page 1 and 2: City of Te m e c u California Compr
Page 4 and 5: CITY OF TEMECULA COMPREHENSIVE ANNU
Page 6: STATISTICAL SECTION CITY OF TEMECUL
Page 9 and 10: City of Temecula Letter of Transmit
Page 21 and 22: City of Temecula CITY ORGANIZATIONA
Page 24 and 25: Brandon W. Burrows, C.P.A Donald L.
Page 26 and 27: City of Temecula Management’s Dis
Page 38 and 39: CITYOF TEMECULA COMPREHENSIVE ANNUA
Page 40 and 41: CITY OF TEMECULA STATEMENT OF ACTIV
Page 42: CITY OF TEMECULA BALANCE SHEET GOVE
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Page 49 and 50: CITY OF TEMECULA BUDGETARY COMPARIS
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City of Temecula Notes to Financial
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CITY OF TEMECULA NON-MAJOR GOVERNME
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CITY OF TEMECULA COMBINING BALANCE
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CITY OF TEMECULA COMBINING STATEMEN
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CITY OF TEMECULA BUDGETARY COMPARIS
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CITY OF TEMECULA NET ASSETS BY COMP
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CITY OF TEMECULA FUND BALANCES OF G
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CITY OF TEMECULA GOVERNMENT-WIDE RE
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CITY OF TEMECULA GENERAL GOVERNMENT
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CITY OF TEMECULA PRINCIPAL SECURED
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CITY OF TEMECULA PROPERTY TAX LEVIE
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CITY OF TEMECULA RATIO OF OUTSTANDI
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CITY OF TEMECULA LEGAL DEBT MARGIN
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CITY OF TEMECULA PLEDGED REVENUE CO
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CITY OF TEMECULA LARGEST EMPLOYERS
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CITY OF TEMECULA FULL-TIME CITY EMP
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CITY OF TEMECULA COMPARATIVE CITY I
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California Comprehensive Annual Financial Report - City of Temecula

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