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 --------------------------------------------- City of Temecula Summary of changes in Long-Term Debt For the Year Ended June 30, 2009 Balance Balance Due Within June 30, 2008 Additions Deletions June 30, 2009 One Year Bonds and Notes Payable: Tax allocation bonds $ 63,210,000 $ - $ 680,000 $ 62,530,000 $ 710,000 Certificates of participation 29,520,000 $ - 265,000 29,255,000 705,000 Notes Payable 495,332 495,332 - - Total Bonds and Notes Payable $ 93,225,332 $ - $ 1,440,332 $ 91,785,000 $ 1,415,000 Capital leases 8,799 83,600 11,393 81,006 20,983 Additional information on long-term debt is available in Note 6 to the financial statements on pages 46-51. During fiscal year 2008-09, the City received a rating upgrade from Standard & Poor’s on its outstanding 2008 Certificates of Participation, from an underlying A rating to an A+ rating. Economic Factors and Next Year’s Budgets and Rates The key assumptions in the General Fund revenue budget for fiscal year 2009-10 were: 1. General Fund estimated revenues, net of operating transfers in, are estimated to reach $53,293,195, a decrease of $2,748,438 from fiscal year 2008-09 actual revenues. 2. Sales and Use Tax revenue are estimated to increase $629,230, or 3%, from fiscal year 2008-09 actual revenue due to an anticipated in retail sales related to the expansions of the Promenade Mall and Professional Hospital Supply. 3. Total property taxes are estimated to decrease $1,031,859, or 16%, from fiscal year 2008-09 actual revenue primarily due to declines in property values due to reassessments, corrections, and appeals. 4. Motor vehicle fees and Property Tax in Lieu of VLF are estimated to decrease $695,926, or 9%, from fiscal year 2008-09 actual revenue primarily due to declines in automobile sales and property assessed valuations. 5. Investment earnings are estimated to decrease $1,121,815, or 50%, from fiscal year 2008-09 actual revenue primarily due to declining interest earning rates and anticipated reductions in the overall investment pool due to the advanced construction of major capital projects. All of these factors were considered in preparing the City of Temecula’s annual operating budget for fiscal year 2009-10. See Independent Auditors’ Report 13
City of Temecula Management’s Discussion and Analysis - continued Fiscal Year Ended June 30, 2009 --------------------------------------------- Requests for Information This financial report is designed to provide a general overview of the City of Temecula’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to City of Temecula Finance Department, P.O. Box 9033, Temecula, California 92589-9033. See Independent Auditors’ Report 14
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
Page 45 and 46: CITY OF TEMECULA STATEMENT OF REVEN
Page 47 and 48: CITY OF TEMECULA RECONCILIATION OF
Page 49 and 50: CITY OF TEMECULA BUDGETARY COMPARIS
Page 51 and 52: CITY OF TEMECULA STATEMENT OF NET A
Page 53 and 54: CITY OF TEMECULA STATEMENT OF CASH
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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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