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for the year ended
June 30 2013
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CITY OF
i CHULA V1C a l i f o r n a
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HULA VISTA
State of California
Comprehensive Annual
Financial Report
For The Fiscal Year Ended
June 30, 2013
Mayor
Cheryl Cox
City Council
Rudy Ramirez
Patricia Aguilar Compiled under the direction of
Pamela Bensoussan
Mary Salas Maria Kachadoorian
Director of Finance/Treasurer
City Manager
Jim Sandoval
City of Chula Vista
Comprehensive Annual Financial Report
For the year ended June 30, 2013
TABLE OF CONTENTS
Pate
INTRODUCTORY SECTION
Tableof Contents .........................................................................................................................................................i
Letterof Transmittal.....................................................................................................................................................v
PrincipalOfficials.........................................................................................................................................................ix
OrganizationChart.......................................................................................................................................................x
Certificate of Achievement for Excellence in Financial Reporting - GFOA...............................................................xi
FINANCIAL SECTION
IndependentAuditors' Report..................................................................................................................................1
Independent Auditors' Report on Internal Control Over Financial Reporting
And On Compliance and Other Matters Based on an Audit of Financial
Statements Performed in Accordance with Government Auditing Standards........................................5
Management's Discussion and Analysis (Required Supplementary Information)..............................................7
Basic Financial Statements:
Government-Wide Financial Statements:
Statementof Net Position................................................................................................................................24
Statement of Activities and Changes in Net Position......................................................................................26
Fund Financial Statements:
Governmental Fund Financial Statements:
BalanceSheet............................................................................................................................................32
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position.............................................................................35
Statement of Revenues, Expenditures and Changes in Fund Balances ....................................................36
Reconciliation of the Governmental Statement of Revenues,
Expenditures, and Changes in Fund Balances to the Government-Wide
Statement of Activities and Changes in Net Position............................................................................38
Proprietary Fund Financial Statements:
Statementof Net Position.........................................................................................................................40
Statement of Revenues,Expenses and Changes in Net Position..............................................................41
Statementof Cash Flows..........................................................................................................................42
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Position.........................................................................................................44
Statement of Changes in Fiduciary Net Position......................................................................................45
Notes to Basic Financial Statements...................................................................................................................47
i
City of Chula Vista
Comprehensive Annual Financial Report
For the year ended June 30, 2013
TABLE OF CONTENTS (Continued)
Pate
FINANCIAL SECTION (Continued):
Required Supplementary Information:
BudgetaryInformation...........................................................................................................................................95
Budgetary Comparison Schedules:
GeneralFund...................................................................................................................................................96
SundryGrants Special Revenue Fund.............................................................................................................97
Low&Moderate Income Housing Successor Special Revenue Fund............................................................98
Schedules of Funding Progress:
PERS ...............................................................................................................................................................99
OtherPost Employment Benefits....................................................................................................................99
Supplementary Information:
Non-Major Governmental Funds:
CombiningBalance Sheet...............................................................................................................................104
Combining Statement of Revenues, Expenditures and Changes in Fund Balances........................................108
Statement of Revenues,Expenditures and Changes in Fund Balances—Budget and Actual:
Transportation Grants Special Revenue Fund..........................................................................................112
Parking Meter Special Revenue Fund.......................................................................................................113
Traffic Safety Special Revenue Fund.......................................................................................................114
Town Centre I Special Revenue Fund......................................................................................................115
Open Space Districts Special Revenue Fund............................................................................................116
Housing Programs Special Revenue Fund................................................................................................117
Traffic Signals Special Revenue Fund......................................................................................................118
Transportation Sales Tax Special Revenue Fund.....................................................................................119
Storm Drain Special Revenue Fund..........................................................................................................120
Housing Authority Special Revenue Fund...............................................................................................121
Mobilehome Admin Fee Fund..................................................................................................................122
Public Financing Authority Debt Service Fund........................................................................................123
Notes Payable Debt Service Fund.............................................................................................................124
Lease Payable Debt Service Fund.............................................................................................................125
Non-Major Enterprise Funds:
Combining Statement of Net Position.............................................................................................................128
Combining Statement of Activities and Changes in Net Position...................................................................129
Combining Statement of Cash Flows..............................................................................................................130
ii
City of Chula Vista
Comprehensive Annual Financial Report
For the year ended June 30, 2013
TABLE OF CONTENTS (Continued)
Page
FINANCIAL SECTION(Continued):
Supplementary Information (Continued):
Internal Service Funds:
Combining Statement of Net Position.............................................................................................................132
Combining Statement of Activities and Changes in Net Position...................................................................133
Combining Statement of Cash Flows..............................................................................................................134
Fiduciary Funds:
Statement of Changes in Assets and Liabilities ..............................................................................................136
STATISTICAL SECTION
Index.............................................................................................................................................................................13 7
Financial Trends:
Net Assets by Component—Last Ten Fiscal Years...............................................................................................138
Changes in Net Position—Last Ten Fiscal Years..................................................................................................139
Fund Balances of Governmental Funds—Last Ten Fiscal Years..........................................................................141
Changes in Fund Balance of Governmental Fund—Last Ten Fiscal Years..........................................................142
Revenue Capacity:
Assessed Value and Estimated Actual Value of Taxable Property—Last Ten Fiscal Years.................................143
Direct and Overlapping Property Tax Rates—Last Ten Fiscal Year.....................................................................144
Principal Property Taxpayers—Current and Nine Years Ago...............................................................................145
Property Tax Levies and Collections—Last Ten Fiscal Years..............................................................................146
Debt Capacity:
Ratios of Outstanding Debt by Type—Last Ten Fiscal Years...............................................................................147
Ratios of General Bonded Debt Outstanding—Last Ten Fiscal Years..................................................................148
Directand Overlapping Debt.................................................................................................................................149
Legal Debt Margin—Last Ten Fiscal Years..........................................................................................................150
Pledged-Revenue Coverage—Last Ten Fiscal Years............................................................................................151
Demographic and Economic Information:
Demographic and Economic Statistics—Last Ten Calendar Years.......................................................................152
Principal Employers—Current and Nine Years Ago.............................................................................................153
Operating Information:
Full-Time and Part-Time City Employees by Function—Last Ten Fiscal Years..................................................154
Operating Indicators by Function—Last Ten Fiscal Years ...................................................................................155
Capital Assets Statistics by Function—Last Ten Fiscal Years..............................................................................156
iii
C17rY C)F
I ISTA
iv
CITY OF •
Finance Department CH U LA VI STA
December 20, 2013
Honorable Mayor, Councilmembers and Citizens of Chula Vista
Chula Vista City Hall
Chula Vista, CA 91910
The audited Comprehensive Annual Financial Report (CAFR) of the City of Chula Vista for the fiscal
year ended June 30, 2013 is hereby submitted to you. The City compiles and prepares the annual
financial report to provide interested parties with reliable information concerning the financial condition
and results of operations for the City.
The basic financial statements are audited by an independent certified public accounting firm. The
purpose of the audit is to ensure that the financial statements present fairly, in all material respects, the
financial position and the results of operations of the City. Responsibility for both the accuracy of the
information and the completeness and fairness of the presentation, including all disclosures, rests with
City management. The financial statements have been prepared in accordance with generally accepted
accounting principles. This means that the statements have been prepared using guidelines that would
allow the user to make a meaningful comparison to the financial statements of other similar entities. All
disclosures necessary to enable the reader to gain an understanding of the City of Chula Vista's activities
have been included.
Generally accepted accounting principles require that management provide a narrative introduction,
overview, and analysis to accompany the basic financial statements in the form of Management's
Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and
should be read in conjunction with it. The City of Chula Vista's MD&A can be found immediately
following the report of the independent auditors.
The City of Chula Vista is required to undergo an annual single audit in conformity with the provisions of
the Revised Single Audit Act of 1996 and the United States Office of Management and Budget's Circular
A-133, Audits of,States, Local Governments, and Non-Profit Organizations. Information related to this
single audit, including a schedule of expenditures of federal awards, along with the independent auditors'
reports on internal controls and compliance with applicable laws, can be found in a separately issued
single audit report.
The Comprehensive Annual Financial Report for the City of Chula Vista includes the activities of the
primary government (City of Chula Vista) along with several "component units." A component unit is a
legally separate organization or entity for which the elected officials of the primary government are
financially accountable. Component units, although they are legally separate entities, are in substance
part of the primary government's operations and therefore included for financial reporting purposes. The
component units included within the City of Vista's financial statements are the Chula Vista Public
Financing Authority, the Chula Vista Industrial Development Authority and the Chula Vista Housing
Authority.
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276 Fourth Avenue, Chula Vista, CA 91910 I www.chulavistaca.gov I (619) 691-5250 ( fax (619) 585-5685
I
Profile of the Government
The City of Chula Vista is located in San Diego County with its western border adjacent to San Diego
Bay, 8 miles south of Downtown San Diego and 7 miles north of the Mexican border. The City
encompasses 50 square miles.
Chula Vista was incorporated in 1911, and functions under a City Charter with a Council/Manager form
of government. The City is governed by a four member Council and a Mayor, who serve four year
overlapping terms, and in addition to the City Attorney are elected on a citywide basis. The City Council
appoints the City Manager and the City Clerk. Municipal services provided include police, fire, parks,
recreation, libraries, planning & building, housing programs, street and drainage construction &
maintenance and sewer services.
Local Economy and Prospects for the Future
Chula Vista residents enjoy all the benefits of a major city along with small town friendliness, affordable
housing and near perfect weather. The most recent data available from the San Diego Association of
Governments (SANDAG) estimates that the median income in Chula Vista is $69,304.
The City of Chula Vista, with a population of approximately 251,613, is the second largest community in
San Diego County. SANDAG projects that the City of Chula Vista will reach a population of
approximately 316,467 by the year 2040. SANDAG's 2030 Growth Forecast indicates that the South
County sub region will continue to host a substantial amount of the region's projected growth over the
next 20 years,primarily through new development in the eastern portion of the City.
Long-Term Financial Planning:
The City periodically updates a 5-Year General Fund Financial Forecast. The purpose of this plan is to
analyze current revenue sources to determine if relevant assumptions need to be updated when projecting
potential revenue growth over time. Operational expenditures are also examined to estimate cost
increases over time due to inflation, increased service demands, and other factors. The goal of the 5-year
financial forecast is to match the availability of revenues to service demands over time, and make
adjustments to budgetary and financial plans accordingly.
During fiscal year 2013, the Finance Department updated the General Fund 5-Year Financial Forecast to
assess the General Fund's ability over the next five years to continue current service levels based on
anticipated growth. The forecast anticipated minimal to no growth for the next five years and identified a
structural imbalance due to increases in the City's CAPERS rates. The Finance Department will continue
to update the five-year forecast, as projections are refined. This forecast will serve as the foundation for
the City's Long Tenn Financial Plan, which is in process. The Government Finance Officers Association
(GFOA) recognizes the importance of combining the forecasting of revenues and expenditures into a
single financial forecast. The GFOA also recommends that a government should have a financial
planning process that assesses long-term financial implications of current and proposed policies,
programs, and assumptions that develop appropriate strategies to achieve its goals.
Internal Control
The City has developed and put into place systems of internal controls over various accounting and
transaction processing functions. Management of the City is responsible for establishing and maintaining
the internal control structure. This structure is designed to ensure that the assets of the City are protected
from loss, theft, or misuse. These controls are also in place to ensure that adequate accounting
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276 Fourth Avenue, Chula Vista, CA 91910 I www.chulavistaca.gov I (619) 691-5250 I fax (619) 585-5685
information is compiled to allow for the preparation of financial statements in conformity with generally
accepted accounting principles. The internal control structure is designed to provide reasonable, but not
absolute, assurance that these objectives are met. The idea of reasonable assurance recognizes that: (1)the
cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of cost and
benefits requires estimates and judgments by management.
Budgetary Controls
The City currently adopts a single-year operating and capital budget. The provisions of these budgets are
directly posted into the City's general ledger accounting system to help ensure compliance with the
appropriations made by the City Council.
Activities of the general fund, special revenue funds, debt service funds and capital project funds are
adopted in the operating budget. Budgetary control(which is the policy that expenditures may not exceed
appropriations) is at the Department/fund level within each fund. Any budget modification, which would
result in an appropriation increase, requires City Council approval. The City Manager and Finance
Director are jointly authorized to transfer appropriations up to $15,000 within a departmental budget.
Any appropriation transfers between departments or greater than $15,000 require City Council approval.
Amounts appropriated for each year in the operating budget lapse at the end of each fiscal year, unless
carried forward through the encumbrance process. The City Council also adopts amounts in the operating
budget for the proprietary and internal service funds to provide a level of fiscal control.
Independent Audit
Each year the City has an audit performed by an independent certified public accounting firm. This year
the audit was performed by the firm of Pun &. McGeady, LLP. The auditors also conducted a "single
audit" designed to meet the requirements of the federal Revised Single Audit Act of 1996 and the related
U.S. Office of Management and Budget's Circular A-133. The auditor's report on the basic financial
statements can be found in the financial section of this report.
The auditor's report on internal controls and compliance with applicable laws and regulations can be
found in a separately issued single audit report.
Awards
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a
Certificate of Achievement for Excellence in Financial Reporting to the City of Vista for its
Comprehensive Annual Financial Report for the year ended June 30, 2012. This was the 13tH consecutive
year that the City has received this prestigious award. In order to be awarded a Certificate of
Achievement, a government must publish an easily readable and efficiently organized Comprehensive
Annual Financial Report. This report must satisfy both generally accepted accounting principles and
applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
Comprehensive Annual Financial Report continues to meet the Certificate of Achievement Program's
requirements, and we are again submitting it to GFOA to determine its eligibility for another certificate.
Acknowledgments
The preparation of this Comprehensive Annual Financial Report could not have been accomplished
without the efficient and dedicated services of the entire finance staff throughout the fiscal year. We
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276 Fourth Avenue, Chula Vista, CA 91910 www.chulavistaca.gov I (619) 691-5250 fax (619) 585-5685
would like to thank all of those individuals who assisted and contributed to the preparation of this report.
Credit must also be given to the Mayor and City Council, along with the City Manager, for their
continued interest in planning and conducting the operations of the City of Chula Vista in a responsible
and progressive manner.
Respectfully submitted,
T ..
Maria I achadoorian
Director of Finance/Treasurer
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276 Fourth Avenue, Chula Vista, CA 91910 I www.chulavistaca.gov I (619) 691-5250 I fax (619) 585-5685
City of Chula Vista
List of City Officials
June 30, 2013
City Council
Cheryl Cox Mayor
Pamela Bensoussan Deputy Mayor
Patricia Aguilar Councilmember
Rudy Ramirez Councilmember
Mary Salas Councilmember
Administration
James Sandoval City Manager
Gary Halbert Assistant City Manager
Kelley Bacon Deputy City Manager/Director of Human
Resources & information Technology
Services
Glen Goggins City Attorney
Donna Norris City Clerk
Department Heads
David Bejarano Chief of Police
Kelly Broughton Director of Development Services
Dave Hanneman Fire Chief
Richard Hopkins Director of Public Works
Maria Kachadoorian Director of Finance/Treasurer
Betty Waznis Director of Library & Recreation
Michael Meacham Director of Economic Development
ix
CITY OF
CHULA VISTA
ORGANIZATION CHART
CITIZENS OF
CHULA VISTA
01
Citizen Advisory Mayor Citizen Advisory
Commissions City Council Boards
City Manager
City Attorney City Clerk
Assistant City Assistant City
Manager Manager
01 01 01 01
Police Human Library Planning &
Resources Building
01 01
Fire Information & Recreation Development
Technology Svcs Services
01 01 01
Administration Public Works Animal Care Housing
Facility Authority
Successor Agency
to the
Redevelopment
Agency
Finance
X
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in 46 Financial
Reporting
Presented to
City of Chula Vista
California
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 2012
0,e Fe*
Executive Director/CEO
Xi
6265 Greenwich Drive
Suite 220
Flo* iM
San Diego, California 92122
PUN McEAD Phone: (858) 242-5100
Fax: (858) 242-5150
www.pm-llp.com
INDEPENDENT AUDITORS' REPORT
To the Honorable Mayor and Members of the City Council
of the City of Chula Vista
Chula Vista, California
Report on Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business-type activities,
each major fund, and the aggregate remaining fund information of the City of Chula Vista, California (the "City"), as
of and for the year ended June 30, 2013, and the related notes to the financial statements, which collectively comprise
the City's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
accounting principles generally accepted in the United States of America; this includes the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free
from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in
accordance with auditing standards generally accepted in the United States of America and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the City's preparation and fair presentation of the financial statements in
order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the City's internal control. Accordingly, we express no such opinion. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
To the Honorable Mayor and Members of the City Council
of the City of Chula Vista
Chula Vista, California
Page 2
Opinions
In our opinion, the financial statements referred to previously present fairly, in all material respects, the respective
financial position of the governmental activities, the business-type activities, each major fund, and the aggregate
remaining fund information of the City as of June 30, 2013,and the respective changes in financial position, and where
applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in
the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management's Discussion
and Analysis, Budgetary Comparison Schedules, and Schedules of Funding Progress on pages 7 through 20 and 93
through 99 be presented to supplement the basic financial statements. Such information, although not a part of the
basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic,
or historical context. We have applied certain limited procedures to the Required Supplementary Information in
accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of
management about the methods of preparing the information and comparing the information for consistency with
management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our
audit of the basic financial statements. We do not express an opinion or provide any assurance on the information
because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any
assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the
City's basic financial statements. The Introductory Section, Combining and Individual Nonmajor Fund Financial
Statements and Budgetary Comparison Schedules, and Statistical Section, are presented for purposes of additional
analysis and are not a required part of the basic financial statements.
The Combining and Individual Nonmaj or Fund Financial Statements and Budgetary Comparison Schedules are the
responsibility of management and were derived from and relate directly to the underlying accounting and other records
used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied
in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling
such information directly to the underlying accounting and other records used to prepare the basic financial statements
or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards
generally accepted in the United States of America. In our opinion, the Combining and Individual Nonmaj or Fund
Financial Statements and Budgetary Comparison Schedules are fairly stated in all material respects in relation to the
basic financial statements as a whole.
The Introductory and Statistical Sections have not been subjected to the auditing procedures applied in the audit of the
basic financial statements, and accordingly,we do not express an opinion or provide any assurance on them.
2
To the Honorable Mayor and Members of the City Council
of the City of Chula Vista
Chula Vista, California
Page 3
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 20, 2013, on our
consideration of the City's internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to
describe the scope of our testing of internal control over financial reporting and compliance and the results of that
testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is
an integral part of an audit performed in accordance with Government Auditing Standards in considering the City's
internal control over financial reporting and compliance.
I e &LP
U0
San Diego, California
December 20, 2013
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4
6265 Greenwich Drive
Suite 220
San Diego, California 92122
PUN & McGEADY Phone: (858) 242-5100
Fax: (858) 242-5150
www.pm-llp.com
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN
AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
Independent Auditors'Report
To the Honorable Mayor and Members of the City Council
of the City of Chula Vista
Chula Vista, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States, the financial statements of the governmental activities, the business-
type activities, each major fund, and the aggregate remaining fund information of the City of Chula Vista,
California (the "City"), as of and for the year ended June 30, 2013, and the related notes to the financial
statements, which collectively comprise the City's basic financial statements, and have issued our report thereon
dated December 20, 2013.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City's internal control over
financial reporting ("internal control") to determine the audit procedures that are appropriate in the circumstances
for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an
opinion on the effectiveness of the City's internal control. Accordingly, we do not express an opinion on the
effectiveness of the City's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the City's financial statements
will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a
combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or
significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal
control that we consider to be material weaknesses. However, material weaknesses may exist that have not been
identified.
To the Honorable Mayor and Members of the City Council
of the City of Chula Vista
Chula Vista, California
Page 2
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City's financial statements are free of material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and
grant agreements, noncompliance with which could have a direct and material effect on the determination of
financial statement amounts. However, providing an opinion on compliance with those provisions was not an
objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no
instances of noncompliance or other matters that are required to be reported under Government Auditing
Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the
results of that testing, and not to provide an opinion on the effectiveness of the City's internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the City's internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
I
U0
San Diego, California
December 20, 2013
6
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS
FOR THE YEAR ENDED JUNE 30, 2013
As management of the City of Chula Vista, we are presenting the readers of this annual financial report a narrative
overview and analysis of the financial activities of the City of Chula Vista for the fiscal year ended June 30, 2013. We
encourage the readers of this document to consider the information presented here in conjunction with additional
information furnished in the letter of transmittal found in the introductory section of this annual report.
FINANCIAL HIGHLIGHTS
The following outlines financial highlights for the year:
1. The assets of the City exceeded its liabilities at June 30, 2013 by $988.3 million (net assets). Of this amount,
$205.8 million was reported as "unrestricted net assets" and may be used to meet the government's ongoing
obligations to citizens and creditors.
2. Total unrestricted net position is $22.3 million higher for governmental activities than last fiscal year, an increase
of 25.4%. For business type activities, unrestricted net position is $6.9 million higher than the previous year, an
8%increase.
3. The City's total net position decreased by $6.2 million in fiscal year 2013. Net assets of governmental activities
decreased by $7.5 million,while net assets of the business type activities increased by $1.3 million.
4. The City's governmental funds reported combined ending fund balances of $122.2 million, an increase of $4.5
million.
5. Total citywide liabilities increased by $5.5 million. Liabilities for governmental activities increased by $4.5
million and business-type activities increased by $1.0 million.
6. The City's total long-term debt obligations had a net decrease of$2.9 million or 2.0% during fiscal year 2013. The
decrease is composed of principal reductions ($5.1 million) and a City issued notes payable of$2.2 million for an
energy conservation project financed through the Bank of America.
7. The unassigned fund balance of the General Fund on June 30, 2013 was $10.8 million or 8.8 percent of fiscal year
2012-13 General Fund expenditures (excluding other financing uses).
8. The City continues to record deferred revenue for collections of the City's Utility User Tax that is related to
wireless telecommunications. Deferral of this revenue results in a $4.1 million reduction in UUT revenues that
were received but not recognized in fiscal year 2012-13. Recognizing this revenue in the future will be contingent
upon the outcome of lawsuits related to the Utility User Tax.
OVERVIEW OF FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City's basic financial statements. The City's
basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund
financial statements, and 3)notes to the financial statements.
This report also contains required supplementary information (RSI) as well as other supplemental financial
information.
7
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
Government-Wide Financial Statements
The government-wide financial statements are designed to provide readers with a broad overview of the City's
finances, in a manner similar to private-sector business. They are comprised of the Statement of Net Position and
Statement of Activities and Changes in Net Position.
The Statement of Net Position presents information on all of the City's assets and liabilities, with the difference
between the two reported as net position. Over time, increases or decreases in net position may serve as a useful
indicator of whether the financial position of the City is improving or deteriorating. This statement combines and
consolidates governmental funds current financial resources with capital assets and long-term obligations.
The Statement of Activities and Changes in Net Position presents information showing how the government's net
position changed during the fiscal year. All changes in net position are reported as soon as the underlying event giving
rise to the change occurs, regardless of the timing of the related cash flows. Thus revenues and expenses are reported
in this statement for some items that will only result in cash flows in future fiscal periods (e.g. uncollected taxes and
earned but unused vacation leave). Both of the above financial statements have separate sections for three different
types of programs or activities. These three types of activities are:
Governmental Activities - The activities in this section are mostly supported by taxes and charges for services. The
governmental activities of the City include General Government, Public Safety, Public Works, Parks and Recreation
and Library.
Business-Type Activities — These functions normally are intended to recover all or a significant portion of their costs
through user fees and charges to external users of goods and services. The business-type activities of the City include
the Sewer Funds and Transit Operations.
Discretely Presented Component Units- The City of Chula Vista has no discretely presented component units to report
upon.
Fund Financial Statements and Major Component Unit Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for
specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and
demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into three
categories: governmental funds,proprietary funds, and fiduciary funds.
The fund financial statements provide detailed information about each of the City's most significant funds, called
Major Funds. The concept of Major Funds, and the determination of which are major funds, was established by GASB
Statement 34 and replaces the concept of combining like funds and presenting them in total. Instead, each Major Fund
is presented individually,with all Non-major Funds summarized and presented in a single column.
Governmental Funds — Governmental funds are used to account for essentially the same functions reported as
governmental activities in the government-wide financial statements. However, unlike the government-wide financial
statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as
well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in
evaluating a government's near-term financial capacity.
8
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful
to compare the information presented for governmental funds with similar information presented for governmental
activities in the government-wide financial statements. By doing so, readers may better understand the long-term
impact of the government's near-term financing decisions. Both the governmental fund balance sheet and the
governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities. These reconciliations are
presented on the page immediately following each governmental fund financial statement.
The City has thirty-two governmental funds, of which seven are considered major funds for presentation purposes.
Each major fund is presented separately in the governmental fund balance sheet and in the governmental fund
statement of revenues, expenditures, and changes in fund balance. Information for the City's remaining governmental
funds are combined into a single, aggregated "Other Governmental Funds" column. Individual fund data for each of
these non-major governmental funds is provided in the supplementary information portion of the report.
Proprietary Funds—The City maintains two different types of proprietary funds - enterprise funds and internal service
funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-
wide financial statements. The City uses an enterprise fund to account for its Sewer, Development Services and
Transit activities. Internal service funds are used to accumulate and allocate costs internally among the City's various
functions. The City uses internal service funds to account for its fleet of vehicles and its information systems and
equipment replacement program. Because these services predominantly benefit governmental rather than business-
type functions,they have been included within governmental activities in the governmental-wide financial statements.
Proprietary funds provide the same type of information as the government-wide financial statements, only in more
detail. Like the government-wide financial statements, proprietary fund financial statements use the accrual basis of
accounting. There is no reconciliation needed between the government-wide financial statements for business-type
activities and the proprietary fund financial statements.
Fiduciary Funds — Fiduciary funds are used to account for resources held for the benefit of parties outside the
government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of
those funds are not available to support the City's own programs.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the
government-wide and fund financial statements.
Required Supplementary Information
In addition to the basic financial statements and accompanying notes, this report also presents certain required
supplementary information providing a budgetary comparison statement for the general fund and sewer fund.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
Net Position
As noted earlier, net position may serve over time as a useful indicator of a government's financial position. In the
case of the City of Chula Vista, combined net position(government and business type activities)totaled$988.3 million
at the close of the fiscal year ending June 30, 2013. This is a decrease of$6.2 million when compared to the prior
year. All of the decrease occurred in the City's governmental funds ($7.5 million) and was offset by a $1.3 million
increase in business-type activities. On the following page is a summary schedule showing the components that make
up the City's net position at June 30, 2013 and 2012.
9
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
C ity of C h u la Vista
Net Position
Fiscal Year Ending June 30
Governmental Activities Business-Type Activities Total
2013 2012 2013 2012 2013 2012
Current Assets $ 167,732,385 $ 158,958,705 $ 80,712,296 $ 73,026,060 $ 248,444,681 $ 231,984,765
Non-Current Assets 43,146,245 41,033,397 14,516,516 14,293,954 57,662,761 55,327,351
Capital Assets 769,034,178 782,926,138 134,661,254 140,248,319 903,695,432 923,174,457
Tota I Assets 979,912,808 982,918,240 229,890,066 227,568,333 1,209,802,874 1,210,486,573
Current Liabilities 45,493,875 38,804,245 176787341 6037803 47,172,216 39,408,048
Non-Current Liabilities 174,167,681 176,380,958 1487726 1947884 174,316,407 176,575,842
Total Liabilities 219,661,556 215,185,203 178277067 7987687 221,488,623 215,983,890
Net Position
Net Investment in
Capital Assets 626,476,481 655,182,727 134,661,254 140,249,380 761,137,735 795,432,107
Restricted 21,888,309 22,929,586 - - 21,888,309 22,929,586
Unrestricted 111,886,462 89,620,724 93,401,745 86,520,266 205,288,207 176,140,990
Total Net Position $ 760,251,252 $ 767,733,037 $228,062,999 $226,769,646 $ 988,314,251 $ 994,502,683
As the table shows, an amount of $761.1 million is reported as invested in capital assets (e.g. land, streets, sewers,
buildings, improvements, equipment and work in progress), less any related debt used to acquire those assets that are
still outstanding. The City uses these capital assets to provide services to citizens; consequently, these assets are not
available for future spending. Although the City's investment in its capital assets is reported net of related debt, it
should be noted that the resources needed to repay this debt must be provided from other sources, since the capital
assets themselves cannot be used to liquidate these liabilities.
Additional portions of the City's net assets are restricted ($21.9 million or 2.2%) and represent resources that are
subject to external restrictions on how they may be used. The remaining balance of unrestricted net assets of$205.3
million may be used to meet the government's ongoing obligations to citizens and creditors.
At the end of the fiscal year, the City was able to report overall positive balances in all three categories of net assets,
both for the government as a whole, as well as for its separate governmental and business-type activities.
Changes in Net Position
The statement of net position provides a snapshot at a given point in time of the assets and liabilities of the City. The
other citywide statement provided is the Statement of Activities and Changes in Net Position. This statement provides
the reader with information regarding the revenues, expenses and changes in net position over the fiscal year.
Generally, all changes to the City's net position from one fiscal year to the next flow through the Statement of
Activities. The City's net position has decreased by $6.2 million or 0.6%, from the prior fiscal year. The net position
of governmental activities has decreased by $7.5 million, while the net position of the business type activities
increased by $1.3 million.
10
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 309 2013
City of Chula Vista
Summary of Changes in Net Position
Fiscal Year Ending June 30
Governmental Activities Business-Type Activities Total
2013 2012 2013 2012 2013 2012
Revenues:
Program Revenues:
Charges for Services 59,746,716 51,273,789 $ 45,152,163 $ 39,591,997 $ 104,898,879 $ 90,865,786
Operating Grants&Contributions 30,935,863 21,780,868 3,095,626 3,524,426 34,031,489 25,305,294
Capital Grants&Contributions 2,936,133 4,283,855 - - 2,936,133 4,283,855
General Revenues:
Property Taxes 45,146,022 49,721,604 45,146,022 49,721,604
Sales Taxes 28,627,785 27,275,753 28,627,785 27,275,753
Franchise Taxes 9,266,768 8,400,178 9,266,768 8,400,178
Utility User Taxes 4,428,794 3,465,136 4,428,794 3,465,136
Business License Taxes 1,260,622 1,169,307 1,260,622 1,169,307
Transient Occupancy Taxes 2,471,252 2,295,675 2,471,252 2,295,675
Property Transfer Taxes 1,125,252 779,981 1,125,252 779,981
Construction Taxes 413,552 321,252 413,552 321,252
Investment Earnings 866,861 3,615,266 261,354 1,273,689 1,128,215 4,888,955
Miscellaneous 2,034,895 1,530,568 340,888 2,326,442 2,375,783 3,857,010
Transfer from Successor Agency 239,320 - 239,320 -
Gain(Loss)Disposal of Capital
Assets 82,587 - 9,021 10,905 91,608 10,905
Total Revenues 189,582,422 175,913,233 48,859,052 46,727,459 238,441,474 222,640,692
Expenses
General Government $ 33,652,891 $ 22,508,977 $ 33,652,891 22,508,977
Public Safety 77,821,520 75,931,086 77,821,520 75,931,086
Public Works 69,297,402 76,458,061 69,297,402 76,458,061
Parks and Recreation 5,865,192 7,310,312 5,865,192 7,310,312
Library 4,224,568 4,185,624 4,224,568 4,185,624
Transit 14,560 63,021 14,560 63,021
Interest on Long-Term Debt 6,698,509 8,904,275 6,698,509 8,904,275
Sewer Funds 30,773,712 30,524,851 30,773,712 30,524,851
Transit 6,997,488 7,050,673 6,997,488 7,050,673
Bayfront Trolley Statioin 92,843 91,942 92,843 91,942
Sewer DIFs 122,927 129,351 122,927 129,351
Development Services Fund 5,717,312 4,730,599 5,717,312 4,730,599
Total Expenses 197,574,642 195,361,356 43,704,282 42,527,416 241,278,924 237,888,772
Increase/(Decrease)in
Net Position Before Transfers (7,992,220) (19,448,123) 5,154,770 4,200,043 (2,837,450) (15,248,080)
Transfers 3,861,417 4,195,190 (3,861,417) (4,195,190) - -
Extraordinary Gain(Loss) - 28,677,153 - 28,677,153
Change in Net Position (4,130,803) 13,424,220 1,293,353 4,853 (2,837,450) 13,429,073
Net Position,Beginning of Year-Restated 764,382,055 754,308,817 226,769,646 226,764,793 991,151,701 981,073,610
Net Position, End of Year $ 760,251,252 $ 767,733,037 $ 228,062,999 $ 226,769,646 $ 988,314,251 $ 994,502,683
Further analysis is provided within the governmental and business-type activity sections below.
Governmental Activities
Governmental activities decreased the City's net position by $7.5 million thereby accounting for all of the City's
decrease in net position. The City received a total of$93.6 million in Program Revenues for the year an increase of
$16.3 million from the previous year. A comparison of the cost of services by function for the City's governmental
activities is shown in the table below, along with the program revenues used to cover the net expenses of the
governmental activities. A discussion of Program Revenues follows.
11
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
Expenses and Program Revenues
Governmental Activities
0
0
$80
$70
0
0
0
$ 0
$ 0
10
S-
en ral Parks and Public Safety Library Public Works
Government Recreation
MExpendkures NPrograrn Revenues
Total program revenues from governmental activities were $93.4 million in fiscal year 2012-13. Per GASB 34,
program revenues are derived directly from the program itself or from parties outside the reporting government's
taxpayers or citizenry. They reduce the net cost of the function to be financed from the government's general
revenues.
Charges for Services had a net increase of $8.5 million for governmental activities when compared to the previous
year. Some of the more noteworthy changes in the charges for services category are explained below:
• General Government had a net decrease of$160,012 when compared to the prior year. It was status quo for
this component of Charges for Service. The explanation is there were minor increases and decreases for staff
time reimbursements. The biggest decrease was the loss of $222,470 of reimbursements from the former
Redevelopment Agency.
• Public Safety had a modest increase of$235,052 million when compared to the prior year. There were minor
increases in State Grants ($0.1 million), reimbursements from the Port District ($0.2 million) and
Reimbursement from Other Agencies (($0.1 million) for the use of the City's jail. The primary decrease in
revenues was for reimbursements from the Judge and HIDTA task forces ($0.2 million).
• Public Works had an increase of$3.0 million from the prior year. The major factors for the increase are due to
increased building permit activity and collection of development impact fees for the Transportation Fee ($1.2
million), Corporation Yard fee ($0.2 million) and Traffic Signal Fee ($0.1 million). There were higher tax
levies for the City's open space districts ($0.5 million) and an increase in reimbursements for staff time ($0.5
million).
• Parks and Recreation had an increase of $4.6 million from the prior year due to increased building permit
activity in the City that resulted in higher collections of development impact fees for the Park Acquisition and
Development fee ($3.9 million) and Recreation component ($0.5 million) of the Public Facilities fee. In
addition, there was higher recreation fees ($0.2 million) collected during the year.
• Library activities resulted in an increase of$0.8 million from the prior year due to increased building permit
activity in the City that resulted in higher collections of development impact fees for the Library component
($0.8 million) of the Public Facilities Development Impact Fee fund.
12
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
Operating Grants and Contributions for governmental activities showed an increase of$9.2 million from the previous
fiscal year. The material items that make up most of the change are as follows.
• General Government had increased revenues of $0.6 million over the prior year. Half of the increase is
accounted for by two new grants that the city received — Be the Change ($40,000) and San Diego
Neighborhood Reinvestment ($258,000) and the other half coming in the area of Community Development
Block Grant money ($0.3 million).
• Public Safety decreased by $0.7 million from the prior year. The biggest single reduction when compared to
the prior fiscal year was in the grant monies received from the American Recovery and Reinvestment Act
(ARRA) ($1.8 million) in fiscal year 2012. The ARRA program was terminated by the federal government in
fiscal year 2012. The reduction in ARRA funds was offset by an increase in other Federal and State grants
($0.6 million), an increase in Asset Seizure Funds ($0.2 million) and contributions from American Medical
Response to support Basic/Advanced Life Support programs in the Fire Department($0.2 million).
• Public Works category increased by $9.1 million when compared to the prior year. The largest increase in this
category was related to the San Diego County Transportation Sales Tax which adds 0.25%to the sales tax rate
and is to be used for transportation projects ($3.3 million). The next largest increase was in the Gas Tax funds
($2.1 million) that are used for road improvement and maintenance. The City issued a Qualified Energy
Conservation Bond during the year for a streetlight retrofit that replaced bulbs with longer-life LED bulbs
($2.2 million). The City received increased state and federal grant funding for energy and conservation
projects ($1.0 million).
• Parks and Recreation category saw an increase of $0.2 million from the previous fiscal year. All of the
increase is provided by various donations received from community groups, CDBG funded activities and local
grants for learn-to-swim programs.
• Library category showed a decrease of$3,141 in this category. The Library received $90,827 in this category
which was for donations. Prior year revenues were $93,968.
Capital Grants and Contributions for governmental activities had a decrease of$1.3 million. The major components
of this change are discussed below.
• General Government had reduced revenues of$14,367 when compared to the prior year.
• Public Safety realized $0.1 more in revenue when compared to the previous fiscal year due to receiving a
federal grant that was used to upgrade the police department's crime lab.
• The Public Works component accounts for all of the decrease in Capital Grants and Contributions. This
component had a decrease in revenues of$1.8 million. The State ceased funding for the Proposition 42 Traffic
Congestion Relief program ($1.0 million) and the Proposition 1 B Highway funds ($1.4 million). The City
expended all of its grant funds in the previous fiscal year that was used for bike paths ($0.1 million) and did
not receive any funds for this activity in fiscal year 2013.
General revenues are all other revenues not categorized as program revenues such as property taxes, sales taxes and
investment earnings. Total general revenues from governmental activities were $96.4 million in fiscal year 2012-13.
The largest percentage of general revenues received during the year for governmental activities were taxes of$93.2
million,which included Property Taxes of$45.1 million and Sales Taxes of$28.6 million.
The City's General Revenues decreased as a whole by $2.7 million when compared to the prior fiscal year. Despite
the overall decrease in General Revenues there is good news in the details. As seen in the chart below, most of the
discretionary revenues saw increases indicating that the City is continuing in its recovery from the recession and
housing crisis.
13
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
General Revenues
as of June 30
Increase/
2013 2012 (Decrease)
Property Taxes 45,146,022 49,721,604 (4,575,582)
Sales Taxes 28,627,785 27,275,753 173527032
Franchise Taxes 972667768 874007178 8667590
Utility User Taxes 474287794 374657136 9637658
Business License Taxes 172607622 1,169,307 917315
Transient Occupancy Taxes 274717252 272957675 1757577
Property Transfer Taxes 1,125,252 7797891 3457361
Construction Taxes 4137552 3217252 927300
Investment Earnings 8667861 376157266 (2,748,405)
Transfer from Successor Agency 2397320 - 2397320
Miscellaneous 270347895 175357331 4997564
Total General Revenues r 95,881,123 F9875797393 (2,698,270)
The reductions in property taxes are attributable to the dissolution of the redevelopment agency and receiving only
enough property tax to pay for the former redevelopment agency's enforceable obligations. The loss of investment
earnings is due to the current low interest environment. In addition, the General Fund was not able to collect on any of
the outstanding loans to the former Redevelopment Agency and therefore did not realize interest that it is earning on
the outstanding loans.
The City has prudently been recording deferred revenue for collections of the City's Utility User Tax that is related to
wireless telecommunications. Deferral of this revenue results in a $4.1 million reduction in UUT revenues that were
received but not recognized in fiscal year 2012-13. Recognizing this revenue in the future will be contingent upon the
outcome of lawsuits related to the Utility User Tax.
Total governmental activity type expenses were $197.4 million in fiscal year 2012-13. The largest expenses were
incurred for Public Safety,Public Works and General Government. These three activities combined account for 91.5%
of all general activity expenses. These expenses do not include capital outlays,which are reflected in the City's capital
assets.
Governmental Expenses by Activity
Parks and
Recreation
reation
3% Public Safety
40%
General
Government
17% Library
2%
1 me rest on
long-terra Public Works
debt 35%
3%
14
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
Business Type Activities
Net position for business-type activities was $228.1 million, an increase of $1.3 million from the prior fiscal year.
Overall expenses for the business-type activities showed a $1.2 million increase over the previous year. The increase
is due largely to an increase in staffing for the Development Services Fund ($1.0 million) as building activity in the
City continues to increase. The remaining increase is accounted for in Sewer Fund related activities ($248,861) and a
drop in expenses for Transit related activities of$53,185.
Total program revenues for business-type activities were $48.2 million and are composed of sewer fees ($35.0
million), bus fares ($2.8 million) and development fees (7.3 million). The Metropolitan Transit System, whom the
City contracts with to provide transit service,provides a subsidy to make the City whole and is considered an operating
grant ($3.1 million). Total expenses for the business-type activities were $43.7 million and were for expenses related
to Sewer ($30.8 million), Transit Operations ($7.1 million) and processing of development permits and plans ($5.8
million).
FUND LEVEL FINANCIAL ANALYSIS
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal
requirements.
Governmental Funds
The City uses governmental fund accounting to ensure compliance with budgetary allocations and to maintain control
over resources that are legally, or otherwise, restricted for specific purposes. The following is a discussion of the
individual"major" funds as shown on the Balance Sheet for Governmental Funds in the basic financial statements.
General Fund—The General fund is used to account for the general operations of the City. It is used to account for all
financial resources, except those required to be accounted for in another fund. The General Fund is always reported as
a "major fund". For the fiscal year, the General Fund reported $121.4 million in revenues and $122.8 million in
expenditures, resulting in revenues under expenditures in the amount of$1.4 million. After accounting for net other
financing sources of$4.7 million, General Fund fund balance increased by $3.3 million. Total fund balance at June
301 2013 was $28.0 million, composed of$49.1 million in assets combined with $21.2 million in liabilities. Total fund
balance included$7.5 million of nonspendable or restricted fund balance, which represents that portion of fund balance
that is not available for appropriation. Committed fund balance totaled $4.4 million. This portion of fund balance
includes amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the
City Council, and remains binding unless removed in the same manner. Restricted fund balance is $0.8 million and
represents the portion of fund balance that reflects constraints placed on the use of resources that are externally
imposed by creditors, grantors, contributors, or laws or regulations of other governments. Assigned fund balance,
totaling $6.6 million represents that portion of a fund balance that includes amounts that are constrained by the
government's intent to be used for specific purposes, but that are neither restricted nor committed. The City Council
has delegated its authority to assign fund balance amounts to the City's Director of Finance. The final component of
total fund balance is unassigned fund balance. Totaling $10.8 million, this is the portion of fund balance that is
available for appropriation for any purpose. Unassigned fund balance represents 8.8% of total fiscal year 2012-13
General Fund expenditures.
Sundry Grants Fund— The Sundry Grants fund is to account for miscellaneous grants such as: Supplemental Law
Enforcement Services, California Library Services Act, Public Library Act, Asset Seizure, Local Law Enforcement
Block Grants, federal library grants, waste management and recycling, energy conservation, parks and recreation,
social service grants, Gayle McCandless memorial cultural arts, federal assistance, CDBG program income projects,
HOME project, and Community Development Block grants.
15
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
The Sundry Grants Fund had total revenues of$13.6 million and expenditures of$16.7 million, resulting in revenues
under expenditures in the amount of negative $3.1 million. The Sundry Grants Fund equity decreased by $1.8 million
for the fiscal year after accounting for net other financing sources of$1.3 million. Fund equity decreased due to the
use of Sundry Grants reserves that had been collected in previous years but not spent until fiscal year 2012-13. Total
fund balance at June 30, 2013 was $5.1 million composed of nonspendable ($3.0 million) and restricted ($2.1 million)
fund balance.
Low and Moderate Income Housing Successor Special Revenue Fund - The California legislature voted to end
redevelopment agencies on February 1, 2012. This fund was created mid-year as a result of the dissolution process
and was formerly known as the Low and Moderate Income Housing Fund. The City opted to become the Successor
Agency to the Redevelopment Agency and to the Low and Moderate Housing Successor. For the year, this fund had
revenues of $1.0 million composed primarily of interest earnings, property rentals and loan repayments from
affordable housing projects. Housing expenditure activities totaled$$0.1 million and were primarily for administrative
costs that include city staff time reimbursements and a consultant to educate low income families on home ownership.
Total fund balance as of June 30, 2013 was $7.9 million composed of nonspendable ($5.6 million) and restricted($2.3
million) fund balance.
City Debt Service Fund- This fund was established to account for the principal and interest payments on the City's
interfund debt. At June 30, 2013, this fund had a fund balance of negative $37.0 million. The unassigned fund balance
decreased by $0.3 million due to the payment of principal and interest on outstanding loans.
Development Impact Fee Fund-This fund was established as a depository for various development impact fees. The
fees are levied against all new development in the City in order to pay for the construction or improvement of public
facilities as a result of City growth.
Total revenues for this fund totaled $9.3 million with $9.6 million attributable to building permit fees. Per GASB 31,
the fair market value of investments for this fund had a write down of$350,532 that offset the interest earnings of the
fund. Other revenues of$71,902 were for a refund from the State Department of Transportation for a bridge widening
project. Expenditures totaled $3.1 million comprised of mostly activity in the Transportation DIF in which $2.7
million was spent on four major projects. The projects are the Otay Lakes Road widening, Willow Street Bridge
widening, Heritage Road Bridge reconstruction and Rock Mountain Road overpass. Other expenditures in the
Transportation DIF totaling $0.2 million were for transportation planning and traffic calming projects. The Public
Facilities DIF had staff time reimbursements of$0.2 million. Total fund balance increased by $2.0 million for the
year. At June 30, 2013 this fund had a fund balance totaling $47.1 million, comprised of mostly cash ($36.1 million)
and Advances to Other Funds ($10.7 million) and offset by $2.2 million in liabilities of which $1.6 million is for
deferred revenue. Deferred revenue accounts for the prepayment of development impact fees before the actual
building permit has been applied for. Revenue will be recognized once the permit application has been granted.
Park Acquisition Development- This fund was established as a depository for fees collected from developers for the
purpose of providing park and recreational facilities directly benefiting and serving residents of the regulated
subdivision. This in-lieu fee was adopted by the City to acquire neighborhood and community parkland and to
construct parks and recreational facilities.
Total revenues for this fund totaled $4.3 million with $4.4 million attributable to building permit fees for new
development. Per GASB 31, the fair market value of investments for this fund had a write down of$127,984 that
offset the interest earnings of the fund. Expenditures totaled $3,616 comprised of staff time reimbursements for city
staff. Total fund equity increased by $4.3 million for the year. At June 30, 2013 fund balance totaled $36.2 million,
comprised primarily of cash($26.3 million) and Advances to Other Funds ($10.1 million).
16
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
Proprietary Funds
The City's Sewer Fund is reported as a "major" fund on the Statement of Net Position for Proprietary Funds in the
basic financial statements.
Sewer Fund—The Sewer fund is used to account for all activities related to providing sewer service to the residents of
Chula Vista. Resources for the fund come primarily from sewer service charges paid for by users of the system. For
the fiscal year, operating revenues totaled $35.1 million. In addition, non-operating revenues totaling $0.3 million
were realized. Non-operating revenues are composed of investment income ($0.3 million) and a gain on sale of assets
($4,272). Operating expenditures totaled $30.8 million for the year with the single biggest item being the cost of
wastewater treatment by the City of San Diego in the amount of$18.5 million. After accounting for all revenues and
expenses, both operating and non-operating, net position of the fund increased by $1.8 million for the year, totaling
$219.4 million as of June 30, 2013. Of total net position, $131.8 million is for sewer system infrastructure such as
pump stations, sewer lines and other related equipment and therefore not available to fund the day-to-day operations of
the sewer system. Total current assets are $69.5 million comprised of cash and investments ($64.6 million) and
accounts receivable of $4.8 million. Fund liabilities at the end of the fiscal year were $549,633 of which $367,969
were considered current liabilities. The fund has no outstanding bonded debt.
GENERAL FUND BUDGETARY HIGHLIGHTS
The final amended general fund budget totaled $127,867,844 including $4,586,314 in budget amendments to the
originally adopted budget and encumbrances of $2,888,185 which will fund contractual obligations and outstanding
purchase orders. The General Fund's budget amendments of$4,586,314 are summarized as follows:
Budget Amendments Appropriaition
Target Donation to the Police Department $ 1,800
California Cool Challenge 5,000
Target Donation for Literacy Programming 2,000
Wal-Mart Donation to the Fire Department 1,000
COPS Hiring Grant Program 174,834
Addition of 1 FTE -Animal Care Assistant 38,686
First Quarter Financial Report Budget Cleanup 7,116
Rotary Club Donation to the Fire Department 825
Fire Station 8 Vehicle Storage 9,750
Additional "Spay Shuttle" Clinics 39,000
Friends of Chula Vista Library Donation 45,000
Purchase and Rental of 610 Bay Boulevard 1,457,600
Capital Improvement Project Closure (19,844)
Second Quarter Financial Report Budget Cleanup (44,154)
Estate of Charlotte and Ronald Stanley Donation to the Library 10,000
Fire Department Critical Needs Budget Adjustment 250,000
Aquatica Donation for Fun Run 5,000
Advance Life Support Start-Up Costs 665,191
Advance Life Support Start-Up Costs 48,365
Third Quarter Financial Report Budget Cleanup 1,125,000
Kaboom Grant Matching Funds 8,500
FY13 Year-End Budget Clean-up 755,645
Total General Fund Budget Amendments $ 41586,314
17
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
The City's investment in capital assets for its governmental and business type activities as of June 30, 2013, amounts
to $914.5 million, net of accumulated depreciation of$464.9 million. This investment in capital assets includes land,
buildings, improvements, machinery and equipment, infrastructure and construction in progress. Infrastructure assets
are items that are normally immovable and of value only to the City such as roads, bridges, streets and sidewalks,
drainage systems, lighting systems and similar items. The total change to the City's investment in capital assets for the
current fiscal year was a negative $19.4 million,net of accumulated depreciation.
Additional information on the City's capital assets can be found in Note 5 of the notes to the financial statements.
Debt Administration
Long Term Debt - At June 30, 2013, the City had $142.6 million in debt outstanding compared to the $145.5 million
last year, a 2.0% net decrease. The majority of this debt is in the form of Certificates of Participation($128.4 million)
and a CDBG Section 108 Loan ($8.3 million). The remainder of the outstanding long-term debt is in the form of
vested leave time due to City employees, loans, notes payable, claims and judgments and capital lease obligations.
The City has no outstanding general obligation debt.
Tax allocation bonded debt($42.5 million) has been transferred to the redevelopment agency successor agency and are
now reported in the fiduciary funds. The City made principal payments of$5.1 million during the fiscal year. During
the fiscal year there was a $2.2 million note issued through the Federal government's Qualified Energy Conservation
Bond tax credit program to retrofit City Streetlights with LED fixtures.
During the fiscal year, the City was upgraded from an "A-" to an "A" rating by Standard & Poors for Certificates of
Participation, which represents a "stable outlook. Additional information on the City's long-term debt obligations can
be found in Note 6 of the Notes to the Financial Statements.
ECONOMIC FACTORS AND NEXT YEAR'S BUDGET
Assessed Valuation and Property Tax. According to the County of San Diego Assessors' Office, the city's total
assessed valuation (both secured and unsecured) for the 2012-13 fiscal year was $21,738,959,789. This is a decrease
of$154,739,560 or 0.71% under the 2011-12 assessed valuation. It should be noted that assessed value was set as of
January 1, 2012. Actual current secured property tax revenues for the fiscal year totaled $25.9 million which is $3.1
million more than collected in the prior year. Due to the dissolution of the redevelopment agency the City received
$2.6 million of additional property tax revenues that would have gone to the redevelopment agency prior to its
dissolution.
Building Activity. The valuation of all building and related permits totaled$296.2 million for the 2012-13 fiscal year.
This is approximately 86.8% more than the valuation of$158.5 million for these permit categories in the prior fiscal
year.
As of June 30
Building Permits 2013 2012 Change
Residential $ 226;972;213 $ 121;077;026 $ 105;895;187 87.5%
Non-Residential 26,385,454 8,441,941 17,943,513 212.6%
Additions & Alterations 42,573,371 26,849,179 15,724,192 58.6%
Demolitions 244,984 2,182,111 (1,937,127) -88.8%
Tota 1 $ 296,176,022 $ 158,550,257 $ 137,625,765 86.8%
18
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
The increase in building permits activity is a good indicator that the city is recovering from the recession.
Local Economy. The USD Burnham-Moores Center for Real Estate's Index of Leading Economic Indicators for San
Diego County rose 0.1 percent in June 2013. The gain was led by a big increase in consumer confidence and smaller
positive moves in help wanted advertising and building permits. These were nearly counterbalanced by drops in initial
claims for unemployment insurance and local stock prices. The four advancing components outweighed the two
declining ones to push the USD Index to its tenth straight gain.
June's increase was the 18th in 19 months for the USD Index. The outlook remains for solid growth in the local
economy through the end of 2013 and into at least the first half of 2014. Average wage and salary job growth in San
Diego County in the first half of 2013 was up over 26,000 compared to the first half of 2012. If that pace could be
maintained over the second half of the year, it would be the best annual job growth since 2000.1
135
130
125
120
115
110
105
100
95
90
85
00 00 00 (n M 0 0 0 � cu cu rn m nm
0 0 0 0 0
> ago C: � >
° Q Ln � 0 0 2 Q � � z
Z �
San Diego Index of Leading Economic Indicators
July 2013 home prices in San Diego County were up 22.1% from a year ago according to DataQuick, a real estate
analytical firm based in San Diego. The reported median price for all home sales was $417,500. All of Chula Vista's
five zip codes saw increases in the median price of single-family residences according to the report. As most cities and
counties across the nation, Chula Vista continues to move forward in its economic recovery.
Data for June 2013 Compared to June 2012
91910 North $3027500 $3107000 2.5%
91911 South $2657000 $3207000 20.8%
91913 Eastlake $3127500 $4177500 33.6%
91914 NE $4517000 $6457000 43.0%
91915 SE $3107500 $3797000 22.1%
1 Burnham-Moores Center for Real Estate,University of San Diego http://home.sandiego.edu/—agin/usdlei/index.html
19
CITY OF CHULA VISTA
MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)
FOR THE YEAR ENDED JUNE 30, 2013
Fiscal Year 2013-14 Budget. The City ended the 2012-13 fiscal year with unassigned fund balance of$10.8 million.
An amount of$2.3 million of committed fund balance composed of the Economic Contingency Reserve.
In June 2013, the Chula Vista City Council adopted the 2013-14 annual operating budget which provides $268.8
million in appropriations to fund all City operating activities. The General Fund budget totaled$127.8 million. Due to
the economic uncertainties caused by the slow economic recovery and the ever increasing threat of the State diverting
City revenues to balance its own budget,the City continues to adopt a one-year budget.
The current national mortgage crisis continues to impact overall property values and property tax growth. Based on
information received from the San Diego County Assessor, Chula Vista's change in net taxable assessed value for
fiscal year 2012-13 is negative 0.71% when compared to the 2011-12 taxable assessed values. Management
anticipated this slowdown in the housing market, and its effects on property tax revenue growth, as well as the overall
condition of the economy, and adjusted revenue estimates in the 2012-13 budget accordingly.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of the City's finances for all of its citizens, taxpayers,
customers, investors and creditors. Questions concerning any of the information provided in this report or requests for
additional information should be addressed to the City of Chula Vista, Finance Department, 276 Fourth Avenue, Chula
Vista, CA 91910.
20
BASIC FINANCIAL STATEMENTS
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22
GOVERNMENT-WIDE
FINANCIAL STATEMENTS
23
City of Chula Vista
Statement of Net Position
June 30, 2013
Primary Government
Governmental Business-Type
Activities Activities Total
ASSETS
Current assets:
Cash and investments $ 137,196,063 $ 75,390,406 $ 212,586,469
Receivables:
Accounts 1,830,647 5,137,702 6,968,349
Taxes 806,955 - 806,955
Interest 164,910 15,750 18060
Other 189,717 90,850 280,567
Due from other governments 6,161,268 - 6,161,268
Due from Successor Agency 13,293,691 - 13,293,691
Due from agency fund 94,016 - 94,016
Inventories and prepaid items 115,118 77,588 192,706
Total current assets 167,732,385 80,712,296 248,44401
Noncurrent assets:
Restricted cash and investments:
Held by city 1,018,469 - 1,018,469
Held by fiscal agent 11,498,818 - 11,498,818
Loans receivable 44,936,923 - 44,936,923
Internal balances (14,516,516) 14,516,516 -
Deferred charges,net 189,480 - 189,480
Net pension assets 19,071 - 19,071
Non-depreciable capital assets 96,58608 2,195,269 98,782,157
Depreciable capital assets,net 672,447,290 132,465,985 804,913,275
Total noncurrent assets 812,180,423 149,177,770 961,358,193
Total assets 979,91208 229,890,066 1,209,802,874
See accompanying Notes to Basic Financial Statements.
24
City of Chula Vista
Statement of Net Position (Continued)
June 30, 2013
Primary Government
Governmental Business-Type
Activities Activities Total
LIABILITIES
Current liabilities:
Accounts payable 5,240,840 206,893 5,447,733
Accrued liabilities 4,555,462 207,718 4,763,180
Interest payable 2,412,730 - 2,412,730
Unearned revenue 11,972,158 877,138 12,849,296
Compensated absences-due within one year 40000 386,592 41386,592
Settlement payable(Note 15) 80000 - 80000
Claims payable-due within one year 40000 - 40000
Long-term debt-due within one year 5,31205 - 5,31205
Total current liabilities 45,493,875 1,678,341 47,172,216
Noncurrent liabilities:
Retention payable 497,731 4,565 502,296
Developer deposits 10,479,432 - 10,479,432
Pollution Remediation Obligation 15000 - 15000
Arbitrage liability 7,831 - 7,831
Net OPEB liability 6,02700 - 6,02700
Compensated absences-due in more than one year 2,739,216 144,161 203,377
Claims payable-due in more than one year 17,021,459 - 17,021,459
Long-term debt-due in more than one year 137,245,012 - 137,245,012
Total noncurrent liabilities 174,16701 148,726 174,316,407
Total liabilities 21901,556 1,827,067 221A8,623
Net Position
Net investment in capital assets 626,476,481 134,661,254 7611137,735
Restricted:
Community development 8,262,381 - 8,262,381
Debt service 10,617,691 - 10,617,691
Capital projects 3,008,237 - 3,008,237
Total restricted 21,888,309 - 21,888,309
Unrestricted 111,886,462 93,401,745 205,288,207
Total Net Position $ 760,251,252 $ 228,062,999 $ 988,314,251
See accompanying Notes to Basic Financial Statements.
25
City of Chula Vista
Statement of Activities and Changes in Net Position
For the year ended June 30, 2013
Program Revenues
Operating Capital Total
Charges for Grants and Grants and Program
Functions/Programs Expenses Services Contributions Contributions Revenues
Primary government:
Governmental activities:
General government $ 3316521891 $ 517951838 $ 417861541 $ 511346 $ 1016331725
Public safety 7718211520 818931631 816441384 2801000 1718181015
Public works 6912971402 3517581786 1711881263 213061787 5512531836
Parks and recreation 518651192 716311696 2251848 2981000 811551544
Library 412241568 116661765 901827 - 117571592
Transit 141560 - - - -
Interest on long-term debt 616981509 - - - -
Total governmental activities 19715741642 5917461716 3019351863 219361133 9316181712
Business-type activities:
Sewer 3017731712 3510111268 - - 3510111268
Transit 619971488 218411619 310021783 - 518441402
Bayfront Trolley Station 921843 - 921843 - 921843
Sewer Development Impact Fees 1221927 6451015 - - 6451015
Development Services Fund 517171312 616541261 - - 616541261
Total business-type activities 4317041282 4511521163 310951626 - 4812471789
Total primary government $ 24112781924 $ 10418981879 $ 3410311489 $ 219361133 $ 14118661501
See accompanying Notes to Basic Financial Statements.
26
City of Chula Vista
Statement of Activities and Changes in Net Position (Continued)
For the year ended June 30, 2013
Net(Expense)Revenue
and Changes in Net Position
Primary Government
Governmental Business-type
Functions/Programs Activities Activities Total
Primary government:
Governmental activities:
General government $ (23,019,166) $ - $ (23,019,166)
Public safety (60,003,505) - (60,003,505)
Public works (14,043,566) - (14,043,566)
Parks and recreation 212901352 - 212901352
Library (21466,976) - (21466,976)
Transit (14,560) - (14,560)
Interest on long-term debt (61698,509) - (61698,509)
Total governmental activities (103,955,930) - (103,955,930)
Business-type activities:
Sewer - 412371556 412371556
Transit - (11153,086) (11153,086)
Bayfront Trolley Station - - -
Sewer Development Impact Fees - 5221088 5221088
Development Services Fund - 9361949 9361949
Total business-type activities - 415431507 415431507
Total primary government (103,955,930) 415431507 (99,412,423)
General revenues:
Taxes:
Property taxes 4511461022 - 4511461022
Sales taxes 2816271785 - 2816271785
Property transfer taxes 111251252 - 111251252
Franchise taxes 912661768 - 912661768
Utilities user taxes 414281794 - 414281794
Business license taxes 112601622 - 112601622
Transient occupancy taxes 214711252 - 214711252
Construction taxes 4131552 - 4131552
Total taxes 9217401047 - 9217401047
Investment earnings 8661861 2611354 111281215
Miscellaneous 212741215 3401888 216151103
Gain on disposal of capital assets 821587 91021 911608
Transfers 318611417 (31861,417) -
Total general revenues and transfers 9918251127 (31250,154) 9615741973
Change in Net Position (41130,803) 112931353 (21837,450)
Net Position:
Beginning of year,as restated(Note 16) 76413821055 22617691646 991,151,701
End of year $ 76012511252 $ 22810621999 $ 98813141251
See accompanying Notes to Basic Financial Statements.
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28
FUND FINANCIAL STATEMENTS
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30
GOVERNMENTAL FUND
FINANCIAL STATEMENTS
City of Chula Vista
Balance Sheet
Governmental Funds
June 30, 2013
Major Funds
Low&Moderate
Income Housing
Sundry Grants Successor City
General Special Revenue Special Revenue Debt Service
Fund Fund Fund Fund
ASSETS
Cash and investments $ 2413471238 $ 411421948 $ 116391505 $ -
Receivables:
Accounts 116731960 301098 - -
Taxes 719111510 971732 - -
Interest 251816 31832 11663 -
Loans 791182 1711371269 2419291224 -
Other - - - -
Due from other funds 410731822 - - -
Due from other governments 1881542 217451295 - -
Due from Succesor Agency 910021419 - 412911272 -
Due from agency fund 941016 - - -
Advances to other funds 116211446 - - -
Prepaid items 1041344 91974 - -
Restricted cash and investments:
Held by City - 3581356 6601113 -
Held by fiscal agents - 211741204 - -
Total assets $ 4911221295 $ 2616991708 $ 3115211777 $ -
LIABILITIES AND
FUND BALANCES
Liabilities:
Accounts payable $ 210271105 $ 3701462 $ 141556 $ -
Accrued Liabilities 411271118 3261531 - -
Due to other funds - 313501889 - -
Retention payable 2121667 1871092 - -
Advances from other funds - - - 3619731149
Developer deposits - - - -
Settlement payable 810001000 - - -
Deferred revenue 617861230 1713231781 2315911520 -
Total liabilities 2111531120 2115581755 2316061076 3619731149
Fund Balances:
Nonspendable 714811079 310501919 516281977 -
Restricted 7501951 210901034 212861724 -
Committed 212981088 - - -
Assigned 616481922 - - -
Unassigned 1017901135 - - (36,973,149)
Total fund balances 2719691175 511401953 719151701 (36,973,149)
Total liabilities and fund balances $ 4911221295 $ 2616991708 $ 3115211777 $ -
See accompanying Notes to Basic Financial Statements.
32
City of Chula Vista
Balance Sheet (Continued)
Governmental Funds
June 30, 2013
Major Funds
Park Acquisition Other Total
Development Development Governmental Governmental
Impact Fund Fund Funds Funds
ASSETS
Cash and investments $ 3611431548 $ 2612611747 $ 4017521926 $ 13312871912
Receivables:
Accounts - - 1191443 118231501
Taxes - - 6771713 816861955
Interest 661073 311110 361416 1641910
Loans - - 217911248 4419361923
Other 1871729 - - 1871729
Due from other funds - - 8731063 419461885
Due from other governments - - 312271431 611611268
Due from Succesor Agency - - - 1312931691
Due from agency fund - - - 941016
Advances to other funds 1017391925 1010951262 - 2214561633
Prepaid items - - 800 1151118
Restricted cash and investments:
Held by City - - - 110181469
Held by fiscal agents - - 913241614 1114981818
Total assets $ 4711371275 $ 3613881119 $ 5718031654 $ 24816721828
LIABILITIES AND
FUND BALANCES
Liabilities:
Accounts payable $ 5731649 $ - $ 119551519 $ 419411291
Accrued Liabilities - - 691359 415231008
Due to other funds - - 115951996 419461885
Retention payable 211307 - 761665 4971731
Advances from other funds - - - 3619731149
Developer deposits - - 1014791432 1014791432
Settlement payable - - - 810001000
Deferred revenue 115951812 1551262 616221546 5610751151
Total liabilities 211901768 1551262 2017991517 12614361647
Fund Balances:
Nonspendable 1015351338 919401000 6191238 3712551551
Restricted 3414111169 2612921857 2610711557 9119031292
Committed - - 1016171691 1219151779
Assigned - - - 616481922
Unassigned - - (304,349) (26,487,363)
Total fund balances 4419461507 3612321857 3710041137 12212361181
Total liabilities and fund balances $ 4711371275 $ 3613881119 $ 5718031654 $ 24816721828
See accompanying Notes to Basic Financial Statements.
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34
City of Chula Vista
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2013
Total Fund Balances-Total Governmental Funds $ 12212361181
Amounts reported for governmental activities in the Statement of Net Position were different because:
Deferred charges, such as bond issuance costs, were expenditures in the fund financial statements but were deferred and
subject to capitalization and amortization on the Government-Wide Statement of Net Position. 1891480
Net pension assets were not available to pay for current period expenditures and therefore were not recorded in the
governmental funds. 191071
Capital assets used in governmental activities were not financial resources and therefore were not reported in governmental
funds.
Government-Wide Financial Statements 76910341178
Less:Internal Service Funds'Capital Assets (779,645)
Total capital assets 76812541533
Interest payable on long-term debt did not require current financial resources. Therefore,interest payable was not reported
as a liability in Governmental Funds Balance Sheet. (21412,730)
Long-term liabilities were not due and payable in the current period and therefore were not reported in the governmental
funds.
Amount reported in Government-Wide Statement of Net Position:
Compensated absences-due within one year (41000,000)
Compensated absences-due in more than one year (21739,216)
Claims payable-due within one year (41000,000)
Claims payable-due in more than one year (17,021,459)
Long-term debt-due within one year (51312,685)
Long-term debt-due in more than one year (137,245,012)
Pollution Remediation Obligation (150,000)
Arbitrage liability (7,831)
Net OPEB liability (61027,000)
Less:Amount reported in Internal Service Funds
Compensated absences-due in more than one year 681654
Total long-term liabilities (176,434,549)
Deferred revenues recorded in governmental fund financial statements resulting from activities in which revenues were
earned but funds were not available were recognized as revenues in the Government-Wide Financial Statements.
Amounts reported in Government-Wide Statement of Net Position (11,972,158)
Amounts reported in Governmental Fund Financial Statements 5610751151
Total adjustments on deferred revenues 4411021993
Internal service funds were used by management to charge the costs of certain activities to individual funds. The assets and
liabilities of the internal service funds were included in governmental activities in the Government-Wide Statement of Net
Position. 412961273
Net Position of Governmental Activities $ 76012511252
See accompanying Notes to Basic Financial Statements.
35
City of Chula Vista
Statement of Revenues, Expenditures and Changes in Fund Balance
Governmental Funds
For the year ended June 30, 2013
Major Funds
Low&Moderate
Income Housing
Sundry Grants Successor City
General Special Revenue Special Revenue Debt Service
Fund Fund Fund Fund
REVENUES:
Taxes $ 7518411123 $ - $ - $ -
Intergovernmental 1915421065 1119241928 - -
Licenses and permits 113951519 - - -
Developer fees - - - -
Charges for services 813571509 111241763 - -
Fines and forfeitures 110021946 - -
Use of money and property 212011490 371176 6701963 -
Transfers from Successor agency - - 2371450 -
Other 1310231676 5521801 901452 -
Total revenues 12113641328 1316391668 9981865 -
EXPENDITURES:
Current:
General government 2217421279 116501945 1111743 -
Public safety 6613591410 614121401 - -
Public works 2610141418 218671719 - -
Parks and recreation 313621558 11400 - -
Library 311821483 591177 - -
Capital outlay 111721734 517041895 - -
Debt service:
Principal - - - -
Interest and fiscal charges - 123 - -
Total expenditures 12218331882 1616961660 1111743 -
REVENUES OVER
(UNDER)EXPENDITURES (11469,554) (31056,992) 8871122 -
OTHER FINANCING SOURCES(USES):
Issuance of debt - 211741204 - -
Transfers in 916611447 2431624 - 3501000
Transfers out (41910,795) (11157,394) (29,000) -
Total other financing sources(uses) 417501652 112601434 (29,000) 3501000
NET CHANGE IN FUND BALANCES 312811098 (11796,558) 8581122 3501000
FUND BALANCE(DEFICIT):
Beginning of year,as restated(Note 16) 2416881077 619371511 710571579 (37,323,149)
End of year $ 2719691175 $ 5,140,953 $ 719151701 $ (36,973,149)
See accompanying Notes to Basic Financial Statements.
36
City of Chula Vista
Statement of Revenues, Expenditures and Changes in Fund Balance (Continued)
Governmental Funds
For the year ended June 30, 2013
Major Funds
Park Acquisition Other Total
Development Development Governmental Governmental
Impact Fund Fund Funds Funds
REVENUES:
Taxes $ - $ - $ 616091588 $ 8214501711
Intergovernmental - - 914861988 4019531981
Licenses and permits - - 411309 114361828
Developer fees 915881567 414331468 717201821 2117421856
Charges for services - - 1319581541 2314401813
Fines and forfeitures - - 6361835 116391781
Use of money and property (350,532) (127,984) 4981124 219291237
Transfers from Successor agency - - 11870 2391320
Other 711902 - 5431667 1412821498
Total revenues 913091937 413051484 3914971743 18911161025
EXPENDITURES:
Current:
General government 2331004 - 8061108 2515441079
Public safety - - 4061101 7311771912
Public works 1821819 - 1913511521 4814161477
Parks and recreation - - 1071590 314711548
Library - - - 312411660
Capital outlay 216491102 31616 1116131786 2111441133
Debt service:
Principal - - 511131992 511131992
Interest and fiscal charges - - 618181665 618181788
Total expenditures 310641925 31616 4412171763 18619281589
REVENUES OVER
(UNDER)EXPENDITURES 612451012 413011868 (41720,020) 211871436
OTHER FINANCING SOURCES(USES):
Issuance of debt - - - 211741204
Transfers in - - 918581225 2011131296
Transfers out (41221,342) - (6,233,348) (16,551,879)
Total other financing sources(uses) (412211342) - 316241877 517351621
NET CHANGE IN FUND BALANCES 210231670 413011868 (11095,143) 719231057
FUND BALANCE(DEFICIT):
Beginning of year,as restated(Note 16) 4219221837 3119301989 3810991280 114,313,124
End of year $ 4419461507 $ 3612321857 $ 3710041137 $ 12212361181
See accompanying Notes to Basic Financial Statements.
37
City of Chula Vista
Reconciliation of the Governmental Statement of Revenues,Expenditures, and Changes
in Fund Balances to the Government-Wide Statement of Activities and Changes in Net Position
For the year ended June 30,2013
Net Change in Fund Balances-Total Governmental Funds $ 7,923,057
Amounts reported for governmental activities in the Statement of Activities were different because:
Governmental funds reported capital outlay as expenditures. However,in the Government-Wide Statement of Activities and
Changes in Net Position, the cost of those assets was allocated over their estimated useful lives as depreciation expense.
This was the amount of capital assets recorded in the current period. The amount of repairs and maintenance included in
Capital Outlay was$6,880,155. 14,263,978
Depreciation expense on capital assets was reported in the Government-Wide Statement of Activities and Changes in Net
Position,but they did not require the use of current financial resources.Therefore,depreciation expense was not reported as
expenditures in the Governmental Funds. This amount did not include the depreciation expense for Internal Service Funds
in the amount of$351,254. (28,343,305)
The net effect of various miscellaneous transactions involving capital assets(i.e. sales,trade-ins, and donations) decreased
Net Position. (164,497)
The issuance of long-term liabilities provided current financial resources to governmental funds,but issuing debt increased
long-term liabilities in the Government-Wide Statement of Net Position. Repayment of long-term liabilities was an
expenditures in governmental funds,but the repayment reduced long-term liabilities in the Government-Wide Statement of
Net Position.
Issuance of long-term debt (21174,204)
Principal payment of long-term debt 511131992
Amortization expenses were reported in the Government-Wide Statement of Activities and Changes in Net Position, but
they did not require the use of current financial resources. Therefore, amortization expenses were not reported as
expenditures in the Governmental Funds.
Bond premium and discount (39,074)
Deferred charges (10,131)
Net pension assets (227,001)
Certain long-term liabilities were reported in the Government-Wide Statement of Activities and Changes in Net Position,
but they did not require the use of current financial resources. Therefore, long-term liabilities were not reported as
expenditures in governmental funds. These amounts represented the changes in long-term liabilities from prior year.
Changes in compensated absences (80,623)
Changes in claims payable 11168,405
Changes in arbitrage liability 78,674
Changes in net OPEB liabilities (1,342,000)
Interest expense on long-term debt was reported in the Government-Wide Statement of Activities and Changes in Net
Position,but it did not require the use of current financial resources. This amount represented the change in accrued interest
from prior year. 9010
Interest earned on long-term receivables did not provide current financial resources were not reported as revenues in the
Governmental Funds. 392,642
Internal service funds were used by management to charge the costs of certain activities to individual funds. The net
revenue of internal service funds was reported with governmental activities. (781,526)
Change in Net Position of Governmental Activities $ (4,130,803)
See accompanying Notes to Basic Financial Statements.
38
PROPRIETARY FUND
FINANCIAL STATEMENTS
City of Chula Vista
Statement of Net Position
Proprietary Funds
June 30, 2013
Governmental
Major Fund Nonmajor Activities
Sewer Enterprise Internal
Fund Funds Total Service Funds
ASSETS
Current assets:
Cash and investments $ 6415981814 $ 1017911592 $ 7513901406 $ 319081151
Receivables:
Accounts 418411548 2961154 511371702 71146
Interest 151750 - 151750 -
Other 781300 121550 901850 11988
Prepaid items 61000 711588 771588 -
Total current assets 6915401412 11,171,884 8017121296 319171285
Noncurrent assets:
Advances to other funds 1816811815 - 1816811815 -
Capital assets,net 13117541586 219061668 13416611254 7791645
Total noncurrent assets 15014361401 219061668 15313431069 7791645
Total assets 21919761813 1410781552 23410551365 416961930
LIABILITIES AND
NET POSITION
Liabilities:
Current liabilities:
Accounts payable 1201256 861637 2061893 2991549
Retention payable 41565 - 41565 -
Accrued liabilities 2431148 (35,430) 2071718 321454
Unearned revenue - 8771138 8771138 -
Total current liabilities 3671969 9281345 112961314 3321003
Noncurrent liabilities:
Advances from other funds - 411651299 411651299 -
Compensated absences 1811664 3491089 5301753 681654
Total noncurrent liabilities 1811664 415141388 416961052 681654
Total liabilities 5491633 514421733 519921366 4001657
Net Position:
Net investment in capital assets 13117541586 219061668 13416611254 7791645
Unrestricted 8716721594 517291151 9314011745 315161628
Total net position $ 21914271180 $ 816351819 $ 22810621999 $ 412961273
See accompanying Notes to Basic Financial Statements.
40
City of Chula Vista
Statement of Revenues, Expenses and Changes in Net Position
Proprietary Funds
For the year ended June 30, 2013
Governmental
Major Fund Nonmajor Activities
Sewer Enterprise Internal
Fund Funds Total Service Funds
OPERATING REVENUES:
Charges for services $ 3510111268 $ 1011401895 $ 4511521163 $ 613481423
Other 411599 2991289 3401888 2701286
Total operating revenues 3510521867 1014401184 4514931051 616181709
OPERATING EXPENSES:
Operations and administration 2318121460 1211711026 3519831486 714221736
Maintenance 114191268 - 114191268 -
Depreciation 515411984 6961617 612381601 3511254
Total operating expenses 3017731712 1218671643 4316411355 717731990
OPERATING INCOME(LOSS) 412791155 (21427,459) 118511696 (11155,281)
NONOPERATING REVENUES(EXPENSES):
Intergovernmental - 310951626 310951626 -
Interest income 3141193 (52,839) 2611354 (81832)
Interest expense - (62,927) (62,927) -
Gain(loss)on disposal of capital assets 41272 41749 91021 821587
Total nonoperating revenues(expenses) 3181465 219841609 313031074 731755
INCOME(LOSS)BEFORE TRANSFERS 415971620 5571150 511541770 (11081,526)
TRANSFERS:
Transfers in - 4391238 4391238 3001000
Transfers out (21840,181) (11460,474) (41300,655) -
Total transfers (21840,181) (11021,236) (31861,417) 3001000
CHANGE IN NET POSITION 117571439 (464,086) 112931353 (781,526)
NET POSITION:
Beginning of year 21716691741 910991905 22617691646 510771799
End of year $ 21914271180 $ 816351819 $ 22810621999 $ 412961273
See accompanying Notes to Basic Financial Statements.
41
City of Chula Vista
Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2013
Governmental
Major Fund Nonmajor Activities
Sewer Enterprise Internal
Fund Funds Total Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from customers $ 3418831551 $ 1019851713 $ 4518691264 $ -
Cash received from(payments to)other funds (285,490) 1 (285,489) 613811487
Cash payments to supplier and employees for goods and services (25,273,728) (12,207,925) (37,481,653) (71308,049)
Other operating revenues 411599 6261467 6681066 2701286
Net cash provided(used)by operating activities 913651932 (595,744) 817701188 (656,276)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:
Acquisition of capital assets (651,536) - (651,536) (703,119)
Proceeds received from disposal of capital assets 41272 41749 91021 821587
Net cash provided(used)by capital and related financing activities (647,264) 41749 (642,515) (620,532)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Intergovernmental - 310951626 310951626 -
Transfers in - 4391238 4391238 3001000
Transfers(out) (21840,181) (11460,474) (41300,655) -
Net cash provided(used)by noncapital financing activities (21840,181) 210741390 (765,791) 3001000
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest income 3881428 (51,621) 3361807 (51872)
Net cash provided(used)by investing activities 3881428 (51,621) 3361807 (51872)
Net increase(decrease)in cash and cash equivalents 612661915 114311774 716981689 (982,680)
CASH AND CASH EQUIVALENTS:
Beginning of year 5813311899 913591818 6716911717 418901831
End of year $ 6415981814 $ 1017911592 $ 7513901406 $ 319081151
RECONCILIATION OF OPERATING INCOME TO NET CASH
PROVIDED(USED)BY OPERATING ACTIVITIES:
Operating income(loss) $ 41279,155 $ (21427,459) $ 11851,696 $ (11155,281)
Adjustments to reconcile operating loss to net cash
provided(used)by operating activities:
Depreciation 515411984 6961617 612381601 3511254
Changes in operating assets and liabilities:
Accounts receivable (49,417) 341575 (14,842) (71146)
Other receivable (78,300) 701105 (81195) 401210
Prepaid items 311625 (71,588) (39,963) -
Advances to other funds (285,490) - (285,490) -
Accounts payable (329,166) 691256 (259,910) 761342
Retention payable 41565 - 41565 -
Accrued liabilities 2431148 (35,430) 2071718 321454
Unearned revenue - 7401139 7401139 -
Compensated absences 71828 3281041 3351869 51891
Total adjustments 510861777 118311715 619181492 4991005
Net cash provided(used)by operating activities $ 913651932 $ (595,744) $ 817701188 $ (656,276)
See accompanying Notes to Basic Financial Statements.
42
FIDUCIARY FUND
FINANCIAL STATEMENTS
Agency Fund — This fund is used to account for assets held by the City in a trustee capacity for individuals, private
organizations, other governments and/or other funds.
Successor Agency to the Chula Vista Redevelopment Agency Private Purpose Trust Fund — This fund is used to
account for monies received from the San Diego County Auditor Controller for the repayment of the enforceable
obligations of the former Chula Vista Redevelopment Agency. These funds are restricted for the sole purpose of
payment of items on an approved Recognized Payment Obligation Schedule (ROPS).
43
City of Chula Vista
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2013
Successor Agency
to the Chula Vista
Redevelopment Agency
Agency Private-purpose
Funds Trust Fund
ASSETS
Cash and investments $ 1013291756 $ 312361936
Receivables:
Account - 31204
Interest - 21608
Loans - 1541252
Other 211002 -
Restricted cash and investments 7417101628 510141017
Land - 915021300
Buildings,net - 112271649
Total assets $ 8510611386 1911401966
LIABILITIES
Accounts payable and accrued liabilities $ 234 3731460
Due to city 941016 1312931691
Due to fiduciary fund - 501849
Deferred revenue - 1541252
Long-term debt - 4215101000
Due to bondholders 8417541261 -
Refundable deposits 2121875 -
Total liabilities $ 8510611386 5613821252
Net Position
Held in trust (37,241,286)
Total net position $ (37,241,286)
See accompanying Notes to Basic Financial Statements.
44
City of Chula Vista
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the year ended June 30, 2013
Successor Agency
to the Chula Vista
Redevelopment Agency
Private-purpose
Trust Fund
ADDITIONS:
Redevelopment Property Tax Trust Fund 414561770
Investment income 771892
Miscellaneous income 343
Total additions 415351005
DEDUCTIONS:
Dissolution payments to San Diego County 110301224
Enforceable Obligations 717091766
Administrative Expenses 6411531
Depreciation 471726
Transfers out to City 2391320
Total deductions 916681567
Change in Net Position (51133,562)
Net Position:
Beginning of year (32,107,724)
End of year $ (37,241,286)
See accompanying Notes to Basic Financial Statements.
45
OW
CITY C)F
CHULAVISTA
46
City of Chula Vista
Notes to Basic Financial Statements
For the year ended June 30, 2013
NOTE DESCRIPTION PAGE
1 Reporting Entity and Summary of Significant Accounting Policies 48
2 Cash and Investments 58
3 Receivables 62
4 Interfund Balances and Transactions 67
5 Capital Assets 69
6 Long-Term Debt 71
7 Unearned/Deferred Revenue 82
8 Compensated Absences 82
9 Other Required Fund Disclosures 83
10 Self-Insurance Accrued Liabilities 84
11 Pension Plans 85
12 Post Retirement Health Benefits 87
13 Pollution Remediation Obligations 89
14 Commitments and Contingencies 90
15 Utility Tax Settlement 91
16 Prior Period Adjustment 91
17 Classification of Fund Balances 92
47
City of Chula Vista
Notes to Basic Financial Statements
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies
The basic financial statements of the City of Chula Vista, California (the "City") have been prepared in conformity
with generally accepted accounting principles of the United States of America ("U.S. GAAP") as applied to
governmental agencies. The Governmental Accounting Standards Board ("GASB") is the accepted standard setting
body for establishing governmental accounting and financial reporting principles. The more significant of the City's
accounting policies are described below.
A. Reporting Entity
The City, incorporated in 1911, was recognized as a city in the State of California by election in 1949. The City
operates under an elected Council and appointed City Manager form of government and provides the following
services as authorized by its charter: public safety, community services, engineering services, planning services,
public works, general administrative services and capital improvements.
The financial reporting entity consists of the primary government, the City, and its component units. Component
units are legally separate entities for which the elected officials of the primary government are financially
accountable. In addition, component units can be other organizations for which the primary government is
accountable and their exclusion would cause the reporting entity's financial statements to be misleading or
incomplete.
Blended component units, although legally separate entities, are, in substance part of the government's operation
and so data from these units are combined with data of the primary government. Discretely presents component
units, on the other hand, are reported in a separate column in the combined financial statements to emphasize that
they are legally separate from the government.
The City Council acts as the governing body and is able to impose its will on the following organizations,
establishing financial accountability. As a result, these organizations are considered component units of the City
and are included within the financial statements of the City using the blended method. All component units have a
June 30 year-end. The City has no discretely presented component units.
The Chula Vista Industrial Development Authority (the "Development Authority")
The Development Authority was formed in February 1982 for the purpose of promoting and developing
commercial, industrial and manufacturing enterprises and encouraging employment. The governing body of
the Development Authority is comprised of the members of the City Council. The Development Authority's
financial data and transactions are included within the capital projects fund type. The City does not produce
separate financial statements for the Development Authority.
The Chula Vista Public Facilities Financing Authority (the "Financing Authority
The Financing Authority was established by ordinance, pursuant to the City Charter and Constitution of the
State of California, as a public body, to serve the public purposes of the City. The ordinance was adopted on
April 4, 1995. The governing body of the Financing Authority is comprised of the consenting members of the
City Council. The Financing Authority is authorized to borrow money for the purpose of financing the
acquisition of bonds, notes and other obligations of, or for the purpose of making loans to the City and/or to
refinance outstanding obligations of the City. The City does not produce separate financial statements for the
Chula Vista Public Facilities Financing Authority.
48
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies (Continued)
A. Reporting Entity(Continued)
The Chula Vista Housing Authority (the "Housing Authority")
The Housing Authority was created by the City of Chula Vista City Council ("City Council") in March 1993
to centrally coordinate and administer the City's programs for promoting balanced housing for families of all
income levels. It was established pursuant to the State of California Health and Safety Code, Section 34200.
It is empowered to develop, finance and own low income housing within the territorial limits of the City of
Chula Vista. It uses a variety of local, state, and federal funding sources to administer and finance these
programs. It is also the financing vehicle for the issuance of bonds for housing programs and services. The
Housing Authority's financial data and transactions are included within the special revenue fund type. The
City does not produce separate financial statements for the Housing Authority.
B. Basis of Accounting and Measurement Focus
The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting
entity. The operations of each fund are accounted for by providing a separate set of self-balancing accounts that
comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Fund
accounting segregates funds according to their intended purpose and is used to aid management in demonstrating
compliance with finance-related legal and contractual provisions. The minimum number of funds is maintained in
accordance with legal and managerial requirements.
In 2013, the City implemented GASB Statement No. 63, Financial Reporting of Deferred OuWows of Resources,
Deferred Inflows of Resources, and Net Position. The Statement of Net Position reports separate sections for
Deferred Outflows of Resources, and Deferred Inflows of Resources, when applicable.
Deferred Outflows of Resources represent outflows of resources (consumption of net position)that apply to
future periods and that, therefore,will not be recognized as an expense until that time.
Deferred Inflows of Resources represent inflows of resources (acquisition of net position)that apply to future
periods and that, therefore, are not recognized as a revenue until that time.
Government- Wide Financial Statements
The City's Government-Wide Financial Statements include a Statement of Net Position and a Statement of
Activities and Changes in Net Position. These statements present summaries of governmental and business-type
activities for the City accompanied by a total column. Fiduciary activities of the City are not included in these
statements.
These financial statements are presented on an "economic resources"measurement focus and the accrual basis of
accounting. Accordingly, all of the City's assets and liabilities, including capital assets, as well as infrastructure
assets, and long-term liabilities, are included in the accompanying Statement of Net Position. The Statement of
Activities presents changes in Net Position. Under the accrual basis of accounting, revenues are recognized in the
period in which they are earned while expenses are recognized in the period in which the liability is incurred.
Certain types of transactions are reported as program revenues for the City in three categories:
➢ Charges for services
➢ Operating grants and contributions
➢ Capital grants and contributions
49
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies (Continued)
B. Basis of Accounting and Measurement Focus (Continued)
Certain eliminations have been made in regards to interfund activities, payables and receivables. All internal
balances in the Statement of Net Position have been eliminated except those representing balances between the
governmental activities and the business-type activities, which are presented as internal balances and eliminated
in the total primary government column. In the Statement of Activities and Changes in Net Position, internal
service fund transactions have been eliminated; however, those transactions between governmental and business-
type activities have not been eliminated. The following interfund activities have been eliminated:
➢ Due to/from other funds
➢ Advances to/from other funds
➢ Transfers in/out
Governmental Fund Financial Statements
Governmental Fund Financial Statements include a Balance Sheet and a Statement of Revenues, Expenditures and
Changes in Fund Balances for all major governmental funds and non-major funds aggregated. An accompanying
schedule is presented to reconcile and explain the differences in Net Position as presented in these statements to
the Net Position presented in the Government-Wide Financial Statements. The City has presented all major funds
that met the applicable criteria.
All governmental funds are accounted for on a spending or "current financial resources"measurement focus and
the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on
the Balance Sheet. The Statement of Revenues, Expenditures and Changes in Fund Balances presents increases
(revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets.
Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they
become both measurable and available to finance expenditures of the current period.
Revenues are recorded when received in cash, except for that revenues subject to accrual (generally 60 days after
year-end) are recognized when due. The primary revenue sources, which have been treated as susceptible to
accrual by the City, are property tax, sales tax, intergovernmental revenues and other taxes. Expenditures are
recorded in the accounting period in which the related fund liability is incurred.
Deferred revenues arise when potential revenues do not meet both the "measurable" and "available" criteria for
recognition in the current period. Deferred revenues also arise when the government receives resources before it
has a legal claim to them, as when grant monies are received prior to incurring qualifying expenditures. In
subsequent periods, when both revenue recognition criteria are met or when the government has a legal claim to
the resources,the deferred revenue is removed from the Balance Sheet and revenue is recognized.
The Reconciliation of the Fund Financial Statements to the Government-Wide Financial Statements is provided to
explain the differences created by the integrated approach of GASB Statement No. 34.
The City reports the following major Governmental Funds:
General Fund— This is the primary operating fund of the City. It is used to account for all revenues and
expenditures that are not required to be accounted for in another fund.
50
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies (Continued)
C. Basis of Accounting and Measurement Focus (Continued)
Governmental Fund Financial Statements (Continued)
Sundry Grants Special Revenue Fund — This fund consists of miscellaneous grants/revenues such as:
supplemental law enforcement services, CBAG, California Library Services Act, asset seizure, local law
enforcement block grants, California Recreation grants, Public Safety grants, ARRA grants, waste
management and recycling, energy conservation, emergency shelter program, HOME program, CDBG
program income project, and Community Development Block grants.
The Low and Moderate Income Housing Successor Special Revenue Fund — This fund was established
pursuant to Health and Safety Code Section 34176(b)(2) and is used to fund low and moderate income
housing and related expenditures through the collection of property taxes. The Low and Moderate Income
Housing Successor Fund was created due to the dissolution of the Chula Vista RDA. In accordance with
Health and Safety Code Section 34176(b)(2), on February 1, 2013, all rights, powers, assets, liabilities, duties
and obligations of the Low and Moderate Income Housing Fund were transferred to the Low and Moderate
Income Housing Successor Agency special revenue fund.
City Debt Service Fund— This fund was established to account for principal and interest payments on the
City's long-term loans.
Development Impact Capital Projects Fund — This fund was established as a depository of various
development impact fees. The fees are levied against all new development in the City in order to pay for the
construction or improvement of public facilities as a result of City growth.
Park Acquisition Development Capital Projects Fund — This fund is a depository for fees collected from
property developers for the purpose of providing park, and recreational facilities directly benefiting and
serving residents of the regulated subdivision being developed. This in-lieu fee was adopted by the City to
acquire neighborhood and Community Parkland and to construct parks and recreational facilities.
Proprietary Fund Financial Statements
Proprietary Fund Financial Statements include a Statement of Net Position, a Statement of Revenues, Expenses
and Changes in Fund Net Position, and a Statement of Cash Flows for each major Proprietary Fund.
A separate column representing internal service funds is also presented in these statements. However, internal
service balances and activities have been combined with the governmental activities in the Government-Wide
Financial Statements. The City's internal service funds include three individual funds which provide services
directly to other City funds. These areas of service include Fleet and Vehicle Maintenance, Information
Technology Replacement and Workers Compensation.
Proprietary funds are accounted for using the "economic resources" measurement focus and the accrual basis of
accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on the Statement of
Net Position. The Statement of Revenues, Expenses and Changes in Fund Net Position presents increases
(revenues) and decreases (expenses) in total Net Position. Under the accrual basis of accounting, revenues are
recognized in the period in which they are earned while expenses are recognized in the period in which the liability
is incurred. In these funds, receivables have been recorded as revenue and provisions have been made for
uncollectible amounts.
51
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies (Continued)
B. Basis of Accounting and Measurement Focus (Continued)
Proprietary Fund Financial Statements (Continued)
Operating revenues in the proprietary funds are those revenues that are generated from the primary operations of
the fund. All other revenues are reported as non-operating revenues. Operating expenses are those expenses that
are essential to the primary operations of the fund. All other expenses are reported as non-operating expenses.
The City reports the following major proprietary funds:
Sewer Enterprise Fund—This fund consists of several subfunds that are used to account for sewer activities:
The Sewer Income Fund is a depository for all monies collected to cover the cost of connecting
properties to the City's public sewer system. All monies received may be used only for the
acquisition, construction, reconstruction, maintenance and operation of sanitation or sewerage
facilities.
The Special Sewer Fund is used to account for the sale of the city's excess Metropolitan Sewerage
System capacity. Use of monies in this fund is determined by the City Council.
The Trunk Sewer Capital Reserve Fund is used to account for sewerage facility participation fee
received from owner or person making application for a permit to develop or modify use of any
residential, commercial, industrial or other property, which increases the volume of flow into the City
sewer system. All monies received shall be used for the enlargement of sewer facilities of the City so
as to enhance efficiency of utilization and/or adequacy of capacity and for planning and/or evaluating
any future proposals for area wide sewage treatment and/or water reclamation systems or facilities.
The Sewer Service Revenue Fund is a depository for all monies collected from the monthly sewer
service charge. Monies in this fund may be used for construction,maintenance, or operation of sewer.
The Sewer Facility Replacement Fund is a depository for a portion of the revenue derived from the
monthly sewer service charge. Monies in this fund shall be used solely for the purpose of
refurbishment and/or replacement of sewerage facilities including related evaluation, engineering and
utility modification costs.
The Internal Service Funds are funds used to charge other City funds for fleet management, technology
replacement services and workers compensation.
Fiduciary Fund Financial Statements
Fiduciary fund financial statements include a Statement of Net Position and a Statement of Changes in Fiduciary
Net Position. The City's fiduciary funds represent agency funds and private purpose trust funds. Both agency
funds and the private purpose trust funds are accounted for on the full accrual basis of accounting.
Fiduciary fund types are accounted for according to the nature of the fund. The City's agency funds are purely
custodial in nature (assets equal liabilities) and thus do not involve measurement of results of operations. These
funds are used to account for money and property held by the City as trustee or custodian. They are also used to
account for various assessment districts for which the City acts as an agent for debt service activities. The City's
private purpose trust fund is a fiduciary fund type used by the City to report assets, liabilities and activities of the
Successor Agency to the Chula Vista Redevelopment Agency. Its results of operations are presented on the
Statement of Changes of Fiduciary Net Position.
52
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies (Continued)
B. Basis of Accounting and Measurement Focus (Continued)
Fiduciary Fund Financial Statements (Continued
The Successor Agency was created by the City of Chula Vista City Council (City Council) in August 2012. It
was established pursuant to Assembly Bill x1 26. Its purpose is to expeditiously wind down the affairs of the
dissolved RDA. The governing body of the Successor Agency is comprised of the members of the Oversight
Board selected by the County of San Diego, City of Chula Vista, school and special districts. The Successor
Agency has been included in the accompanying basic financial statements as a private purpose trust fund.
C. Encumbrances
Formal budgetary integration is employed as a management control device. Encumbrance accounting, under which
purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve
that portion of the applicable appropriation, is employed as an extension of formal budgetary integration.
Encumbrances outstanding at year-end do not constitute U.S. GAAP basis expenditures or liabilities because the
commitments will be honored during the subsequent year.
D. Cash, Cash Equivalents and Investments
The City pools its available cash for investment purposes. The City considers pooled cash and investment
amounts, with original maturities of three months or less, to be cash equivalents.
Highly liquid market investments with maturities of one year or less at time of purchase are stated at amortized
cost. All other investments are stated at fair value. Market value is used as fair value for those securities for which
market quotations are readily available. The City reported its investments at fair value and the unrealized gain on
investments amounted to $673,959 for the fiscal year ended June 30,2013.
The statement of cash flows requires presentation of "cash and cash equivalents". For the purposes of the
statement of cash flows, the City considers all proprietary fund pooled cash and investments as "cash and cash
equivalents", as such funds are available to the various funds as needed.
Certain disclosure requirements, if applicable, for Deposits and Investment Risks in the following areas:
➢ Interest Rate Risk
➢ Credit Risk
Overall
Custodial Credit Risk
Concentration of Credit Risk
➢ Foreign Currency Risk
In addition, other disclosures are specified including use of certain methods to present deposits and investments,
highly sensitive investments, credit quality at year-end and other disclosures.
E. Inventories and Prepaid items
Inventories are valued on an average-cost basis which are adjusted to annual physical counts or estimates under the
consumption method of accounting and are recorded in the internal service fund. Prepaid items are items the City
has paid in advance and will receive future benefit from. They are recorded under the consumption method in the
General Fund, Sundry Grants Special Revenue Fund and Sewer Fund.
53
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies (Continued)
F. Restricted Assets
Fiscal agents acting on behalf of the City hold investment funds arising from the proceeds of long-term debt
issuances. The funds may be used for specific capital outlays or for the payment of certain bonds, certificate of
participation or tax allocation bonds and have been invested only as permitted by specific State statutes or
applicable City ordinance, resolution or bond indenture.
G. Interfund Transactions
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the
fiscal year are referred to as either "due to/from other funds" or "advances to/from other funds" (i.e., the current
portion of interfund loans). Any residual balances outstanding between the governmental activities and business-
type activities are reported in the Governmental-Wide Financial Statements as "internal balances."
H. Capital Assets
Capital assets are valued at historical cost or estimated historical cost if actual historical cost was not available.
Donated capital assets are valued at their estimated fair market value on the date donated. City policy has set the
capitalization threshold for reporting capital assets at $10,000 for equipment and $100,000 for infrastructure.
Depreciation is recorded on a straight-line basis over estimated useful lives of the assets as follows:
Buildings 50 years
Improvements other than buildings 50 years
Machinery and equipment 5-12 years
Infrastructure 30-75 years
The City dunes infrastructure as the basic physical assets that allow the City to function. The assets include:
➢ Street system
➢ Sewer system
➢ Site amenities such as parking and landscaped areas used by the City in the conduct of its business
Each major infrastructure system can be divided into subsystems. For example, the street system can be subdivided
into pavement, curbs and gutters, sidewalks, medians, streetlights, landscaping and land. These subsystems were
not delineated in the basic financial statements. The appropriate operating department maintains information
regarding the subsystems.
Interest accrued during capital assets construction, if any, is capitalized for the business-type funds as part of the
asset cost.
For all infrastructure systems, the City elected to use the Basic Approach for infrastructure reporting.
H. Compensated Absences
Government-Wide Financial Statements
For governmental and business-type activities, compensated absences are recorded as expenses and liabilities as
incurred.
54
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies (Continued)
H. Compensated Absences (Continued)
Fund Financial Statements
In governmental funds, compensated absences are recorded as expenditures in the years paid, as it is the City's
policy to liquidate any unpaid compensated absences at June 30 from future resources, rather than currently
available financial resources. The General Fund is typically used to liquidate compensated absences. In
proprietary funds, compensated absences are expensed to the various funds in the period they are earned, and such
fund's share of the unpaid liability is recorded as a long-term liability of the fund.
L Long-Term Debt
Government-Wide Financial Statements
Long-term debt and other financial obligations are reported as liabilities in the appropriate funds.
Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the bonds
using the effective interest method. Bonds payable are reported net of the applicable premium or discount.
Issuance costs are reported as deferred charges.
Fund Financial Statements
The fund financial statements do not present long-term debt but are shown in the Reconciliation of the
Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position.
J. Property Taxes
Property taxes are levied on March 1 and are payable in two installments: November 1 and February 1 of each
year. Property taxes become delinquent on December 10 and April 10, for the first and second installments,
respectively. The lien date is January 1. The County of San Diego, California(County) bills and collects property
taxes and remits them to the City according to a payment schedule established by the County.
The County is permitted by State law to levy taxes at 1% of full market value (at time of purchase) and can
increase the property tax rate no more than 2%per year or the current CPI, whichever is less. The City receives a
share of this basic tax levy proportionate to what it received during the years 1980-1981.
Property tax revenue is recognized in the fiscal year for which the taxes have been levied, provided the taxes are
received within 60 days after the end of the fiscal year. Property taxes received after this date are not considered
available as a resource that can be used to finance the current year operations of the City and, therefore, are not
recorded as revenue until collected.
No allowance for doubtful accounts was considered necessary.
K. Public Facilities Financing
Interest costs incurred from the date of borrowing to the completion of the improvement project(s) are capitalized,
net of interest earnings, on all proprietary fund assets acquired with tax-exempt debt.
55
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies (Continued)
L. Net Position
In governmental-wide and proprietary fund financial statements,Net Position are categorized as follows:
Net Investment in Capital Assets — This component of net position consists of capital assets, net of
accumulated depreciation, reduced by the outstanding balances of debt that are attributable to the acquisition,
construction, or improvement of those assets.
Restricted— This component of net position consists of restricted assets reduced by liabilities and deferred
inflows of resources related to those assets.
Unrestricted— This component of net position is the amount of the assets, deferred outflows of resources,
liabilities, and deferred inflows of resources that are not included in the determination of net investment in
capital assets or the restricted component of net position.
When expenses are incurred for purposes for which both restricted and unrestricted Net Position are available, the
City's policy is to apply restricted Net Position first,then unrestricted Net Position as they are needed.
M. Fund Balances
In governmental fund financial statements, fund balances are categorized as follows:
Nonspendable—Items that cannot be spent because they are not in spendable form, such as prepaid items and
inventories, items that are legally or contractually required to be maintained intact, such as principal of an
endowment or revolving loan funds.
Restricted — Restricted fund balances encompass the portion of net fund resources subject to externally
enforceable legal restrictions. This includes externally imposed restrictions by creditors, such as through debt
covenants, grantors, contributors, laws or regulations of other governments, as well as restrictions imposed by
law through constitutional provisions or enabling legislation.
Committed — Committed fund balances encompass the portion of net fund resources, the use of which is
constrained by limitations that the government imposes upon itself at its highest level of decision making,
normally the governing body, and that remain binding unless removed in the same manner. The City Council
is considered the highest authority for the City.
Assigned— Assigned fund balances encompass the portion of net fund resources reflecting the government's
intended use of resources. Assignment of resources can be done by the highest level of decision making or by
a committee or official designated for that purpose. The City Council has authorized the Director of Finance
for that purpose.
Unassi — This amount is for any portion of the fund balances that do not fall into one of the above
categories.
N. Spending Policy
Government-Wide Financial Statements and the Proprietary Fund Financial Statements
When an expense is incurred for purposes for which both restricted and unrestricted Net Position are available, the
City's policy is to apply restricted Net Position first.
56
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 1 —Reporting Entity and Summary of Significant Accounting Policies (Continued)
N. Spending Policy
Governmental Fund Financial Statements
When expenditures are incurred for purposes where only unrestricted fund balances are available, the City uses the
unrestricted resources in the following order: committed, assigned, and unassigned.
In November 2009, the City Council adopted a resolution amending the General Fund Reserve Policy to include
the following distinct reserve categories: General Fund Operating Reserve, minimum 15%, Economic
Contingency Reserve, minimum 5%, and Catastrophic Event Reserves, 3%. The General Operating Reserve
represents unrestricted resources available for appropriation by the City Council to address extraordinary needs of
an emergency nature. The Economic Contingency Committed Balance represents monies set aside to mitigate
service impacts during a significant downturn in the economy which impacts City revenues such as sales tax,
property tax, business license tax, etc. The Catastrophic Event Reserves are monies set aside to fund unanticipated
expense related to a major disaster in the City and are associated with the City's Disaster Preparedness Program.
O. Use of Estimates
The preparation of basic financial statements in conformity with U.S. GAAP requires management to make
estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from these
estimates and assumptions.
P. Accounting Changes
GASB has issued Statement No. 60, Accounting and Financial Reporting for Service Concession Arrangements
("SCA'). The requirements of this statement improve financial reporting by establishing recognition,
measurement, and disclosure requirements for SCAs for both transferors and governmental operators, requiring
governments to account for and report SCAs in the same manner, which improves the comparability of financial
statements. This statement became effective for periods beginning after December 15, 2011 and did not have a
significant impact on the City's financial statements for the year ended June 30, 2013.
GASB has issued Statement No. 61, The Financial Reporting Entity: Omnibus — an amendment of GASB
Statements No. 14 and No. 34. The requirements of this statement result in financial reporting entity financial
statements being more relevant by improving guidance for including, presenting, and disclosing information about
component units and equity interest transactions of a financial reporting entity. This statement became effective
for periods beginning after June 15, 2012 and did not have a significant impact on the City's financial statements
for year ended June 30, 2013.
GASB has issued Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in
Pre-November 30, 1989 FASB and AICPA Pronouncements. This statement combines the authoritative accounting
and financial reporting of the FASB and the American Institute of Certified Public Accountants ("AICPA"). The
statement eliminates the need for financial statement preparers and auditors to determine which FASB and AICPA
pronouncement provisions apply to state and local governments. This statement became effective for period
beginning after December 15, 2011 and did not have a significant impact on the City's financial statements for the
year ended June 30, 2013.
GASB has issued Statement No. 63, Financial Reporting of Deferred OuWows of Resources, Deferred Inflows of
Resources, and Net Position. The requirement of this statement standardizes the presentation of the deferred
inflows and outflows of resources and their effects on a government's net position. This statement became
effective for periods beginning after December 15, 2011. The implementation of this statement to the City was
limited to renaming of"Net Assets"to "Net Position".
57
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 2—Cash and Investments
The following is a summary of pooled cash and investments, including cash and investments with fiscal agents at
June 30, 2013.
Government-Wide Statement of Net Assets Fiduciary Funds
Governmental Business-Type Statement of
Activities Activities Total Net Assets Total
Cash and investments $ 13711961063 $ 7513901406 $ 21215861469 $ 1315661692 $ 22611531161
Restricted cash and investments:
Held by City 110181469 - 110181469 - 110181469
Held by fiscal agents 1114981818 - 1114981818 7917241645 9112231463
Total restricted cash and investments 1215171287 - 1215171287 7917241645 9212411932
Total cash and investments $ 14917131350 $ 7513901406 $ 22511031756 $ 9312911337 $ 31813951093
Cash, cash equivalents and investments consisted of the following at June 30, 2013:
Petty cash $ 71550
Deposits with financial institution 2419761800
Investments 20211871281
Investments held by bond trustee 9112231463
Total cash and investments $ 31813951093
A. Deposits
The carrying amount of the City's cash deposits were $24,976,800 at June 30,2013. Bank balances before reconciling
items were $26,390,206 at that date,the total amount of which was insured or collateralized with securities held by the
pledging financial institutions in the City's name as discussed below.
The California Government Code requires California banks and savings and loan associations to secure the City's cash
deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the
effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus,collateral for cash
deposits is considered to be held in the City's name.
The market value of pledged securities must equal at least 110% of the City's cash deposits. California law also
allows institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of
the City's total cash deposits. The City may waive collateral requirements for cash deposits, which are fully insured
up to $250,000 by the Federal Deposit Insurance Corporation. The City,however,has not waived the collateralization
requirements.
The City follows the practice of pooling cash and investments of all funds, except for funds required to be held by
fiscal agents under the provisions of bond indentures. Interest income earned on pooled cash and investments is
allocated on an accounting period basis to the various funds based on the period-end cash and investment balances.
Interest income from cash and investments with fiscal agents is credited directly to the related fund.
58
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 2—Cash and Investments (Continued)
B. Investments
As of June 30, 2013,the City had the following investments and maturities:
Investment Maturities
Investment Type Fair Value 1 year or fewer 1 to 2 years 2-3 years 3-4 years 4-5 years Over 5 years
LAIF $ 47,424,198 $ 47,424,198 Time Deposits 310,000 310,000 - - - - -
San Diego County Investment Pool 39,216,675 39,216,675 - - - - -
CalTrust Short-Term Fund 1,011,589 1,011,589 - - - - -
Federal Home Loan Bank 20,633,160 - - - 8,894,910 11,738,250 -
Federal National Mortgage Association 36,501,748 - - 5,989,440 30,512,308 - -
Federal Home Loan Mortgage Corporation 30,591,082 - 10,023,472 - 5,921,100 14,646,510 -
Federal Farm Credit Bank 26,498,829 - - - 13,760,449 12,738,380 -
Held by bond trustee:
U.S.Treasury 2,005,380 2,005,380 - - - - -
Investment Agreements 14,577,627 811,797 - - - - 13,765,830
Mutual Funds 74,640,456 74,640,456 - - - - -
Total $ 293,410,744 $ 165,420,095 $ 10,023,472 $ 5,989,440 $ 59,088,767 $ 39,123,140 $ 13,765,830
Investments Authorized by the California Government Code and the City's Investment Policy
The table below identifies the investment types that are authorized for the City by the California Government Code
(or the City's investment policy, where more restrictive). The table also identifies certain provisions of the
California Government Code (or the City's investment policy, where more restrictive) that address interest rate
risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by
bond trustee that are governed by the provisions of debt agreements of the City, rather than the general provisions
of the California Government Code or the City's investment policy.
Maximum Maximum
Authorized Maximum Percentage of Investment in
Investment Type Maturity Portfolio* One Issuer
Bankers'Acceptance 180 days 40% 30%
Negotiable Certificates of Deposits 5 years 30% 5%
Commercial Paper 270 days 25% 10%
State and Local Agency Bond Issues 5 years None 10%
U.S.Treasury Obligations 5 years None None
U.S.Agency Securitites 5 years None None
Repurchase Agreement 90 days None 10%
Reverse-Purchase Agreements 92 days 20% 10%
Medium-Term Corporate Notes 5 years 30% 10%
Time Certificates of Deposits 3 years None 10%
Money Market Funds N/A 15% 10%
Local Agency Investment Fund(LAIF) N/A None $50 Million**
Investment Trust of California(CalTrust) N/A None 10%
* Excluding amounts held by bond trustee that are not subject to California Government Code restriction.
** Maximum is$50 million per account.
59
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 2—Cash and Investments (Continued)
Investments Authorized by Debt Agreements
Investments of debt proceeds held by bond trustee are governed by provisions of the debt agreement rather than
the general provisions of the California Government Code or the City's investment policy. The table below
identifies certain provisions of these debt agreements that address interest rate risk, credit risk, and concentration
of credit risk.
Maximum Maximum
Authorized Maximum Percentage of Investment in
Investment Type Maturity Portfolio One Issuer
U.S.Treasury Obligations None None None
Federal Home Loan Mortgage Corporation None None None
Farm Credit Banks None None None
Federal Home Loan Banks None None None
Federal National Mortgage Association None None None
Student Loan Marketing Association None None None
Financing Corporation None None None
Resolution Funding Corporation None None None
Certificates of Deposits,Time Deposits and Bankers'Acceptance 30 days None None
Commercial Paper 270 days None None
Money Market Funds None None None
State Obligations None None None
Municipal Obligations None None None
Repurchase Agreements None None None
Investment Agreements None None None
Local Agency Investment Fund(LAIF) None None None
C. Risks Disclosures
Interest Rate Risk
As a means of limiting its exposure to fair value losses arising from rising interest rates, the City's investment
policy provides that final maturities of securities cannot exceed five years. Specific maturities of investments
depend on liquidity needs. At June 30,2013,the City's pooled cash and investments had the following maturities:
Maturity Percentage of Investment
Less than one year 44%
One to two years 5%
Two to three years 3%
Three to four years 28%
Four to five years 19%
The weighted average maturity of the portfolio was 2.7 years.
60
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 2—Cash and Investments (Continued)
C. Risks Disclosures (Continued)
Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the
investment. This is measured by the assignment of a rating by a nationally recognized statistical rating
organization. To be eligible to receive City money, a bank, savings association, federal association, or federally
insured industrial loan company shall have received an overall rating of not less than "satisfactory" in its most
recent evaluation by the appropriate federal financial supervisory agency of its record of meeting the credit needs
of California's communities, including low-and moderate income neighborhoods.
The City's investments are rated by the nationally recognized statistical rating organizations as follows:
Standard
Investment Type Fair Value Moody's &Poor's
LAIF $ 4714241198 Not Rated Not Rated
Time Deposits 3101000 Not Rated Not Rated
San Diego County Investment Pool 3912161675 Not Rated AAAf
CalTrust Short-Term Fund 110111589 Not Rated Aaf
Federal Home Loan Bank 2016331160 Aaa AAA
Federal National Mortgage Association 3615011748 Aaa AAA
Federal Home Loan Mortgage Corporation 3015911082 Aaa AAA
Federal Farm Credit Bank 2614981829 Aaa AAA
$ 20211871281
Custodial Credit Risk
Custodial credit risk is the risk that, in the event of the failure of the counter party, the City will not be able to
recover the value of its investments or collateral securities that are in the possession of an outside party. All
securities, with the exception of LAIF and other pooled investments, are held by a third-party custodian (BNY
Western Trust). BNY is a registered member of the Federal Reserve Bank.
Concentration of Credit Risk
The City's investment policy contains limitations on the amount that can be invested in any one issuer beyond that
stipulated by the California Government Code. Investments in any one issuer that represent 5%or more of total City's
investments are as follows:
Issuer Investment Type Fair Value
Federal Home Loan Bank Federal Agency Securities $ 20,633,160
Federal National Mortgage Association Federal Agency Securities 36,501,748
Federal Home Loan Mortgage Corporation Federal Agency Securities 30,59102
Federal Farm Credit Bank Federal Agency Securities 26,498,829
61
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 2—Cash and Investments (Continued)
D. Investments in Local Agency Investment
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 in LAIF at June 30, 2013 included a
portion of pool funds invested in Structure Notes and Asset-Backed Securities:
Structured Notes are 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, the bulk of which are mortgage-backed securities, entitle their purchasers to receive a
share of the cash flows from pool of assets such as principal and interest repayments from a pool of mortgages
(such as Collateralized Mortgage Obligations) or credit card receivables.
As of June 30, 2013, the City had $47,424,198 invested in LAIF, which had invested 1.96% of the pool investment
funds in Structured Notes and Asset-Back Securities. LAIF determines fair value on its investment portfolio based
on market quotations for those securities where market quotations are readily available and based on amortized
cost or best estimate for those securities where market value is not readily available. The City valued its
investments in LAIF as of June 30, 20131 by multiplying its account balance with LAIF times a fair value factor
determined by LAIF. This fair value factor was determined by dividing all LAIF participants' total aggregate
amortized cost by total aggregate fair value. The credit quality rating of LAIF is unrated as of June 30, 2013.
Note 3—Receivables
A. Taxes Receivable
At June 30, 2013,the City had the following taxes receivable:
Governmental
Activities
Sales Tax $ 319131188
Highway Users Tax 4741575
Property Tax 3571297
Utilities Users Tax 9631234
Transient Occupancy Tax 5141937
Franchise Fee Tax 214631724
Total $ 816861955
62
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 3—Receivables (Continued)
B. Loans Receivable
At June 30, 2013, the City had the following loans receivable, including principal and accrued interest:
Governmental Activities
Principal Deferred Interest Total
South Bay Community Services $ 318801291 $ 212001484 $ 610801775
Heritage(South Bay Community Villas L.P.) 414001000 110811313 514811313
Girls and Boys Club Construction Loan 681750 - 681750
Rancho Vista Housing(Chelsea Investment Corporation) 115001000 3981219 118981219
St.Regis Park(Chelsea Investment Corp) 113871152 110831873 214711025
Chula Vista Rehabilitation CHIP Loans 210111995 1691017 211811012
Park Village Apts(Civic Center Barrio Housing Corporation) 1911134 - 1911134
Mobile Home Assistance Programs 361105 - 361105
Los Vecinos(Wakeland Housing and Development Corporation) 516801000 115171732 711971732
Main Plaza(Alpha III Development Inc.) 118001000 4441814 212441814
Seniors on Broadway(MAAC Project) 315111194 7531121 412641315
The Landings(Chelsea Investment Corp) 914091948 5201954 919301902
First Time Home Buyers Program 114251504 - 114251504
Neighborhood Stabilization First Time Home Buyer Program 2101800 - 2101800
NSP Rental Housing Program 110001000 961682 110961682
Community Energy Retrofit Program 1571841 - 1571841
Total $ 3616701714 $ 812661209 $ 4419361923
South Bay Community Services
In 1998, the former Chula Vista Redevelopment Agency (RDA) entered into several loan agreements with South
Bay Community Services, a California non-profit public benefit corporation. Prior years' loan was made to South
Bay Community Services for the purpose of purchasing a 14-unit apartment building. In fiscal year 1998, a loan to
fund the Trolley Terrace 13-unit project and the Cordova Village 40-unit project were made. These projects are to
provide housing to very low-income families. The funds were made available to the City through a drawdown
from the U.S. Department of Housing and Urban Development. Included in the current year balance is the
$887,995 loaned by the RDA. Deeds of trust and assignments of rent secure the notes. Principal and interest are
payable annually out of any and all residual receipts derived from the property and/or operation of the property.
Fund balance has been restricted in the Sundry Grants Special Revenue Fund and in the Low & Moderate Income
Housing Successor Special Revenue Fund. Interest accrues annually on the unpaid balance with rates ranging from
3% to 6%. At June 30, 2013, the outstanding balance of the loan was $6,080,775, which included a deferred
interest accrual of$2,200,484.
Heritage (South Bay Community Villas, L.P.)
In 2002, the RDA entered into a loan agreement with South Bay Community Villas, L.P. for the development of
the Heritage Town Center multi-family rental housing project. The RDA's assistance is in the form of residual
receipt loan secured by a promissory note and deed of trust. The outstanding principal and interest on the loan will
be repaid over fifty five years and accrues interest at 3%per annum. Payment of principal and interest on the loan
is made on an annual basis, out of a fund equal to fifty percent of the net cash flow of the project(residual receipts)
after debt service on bonds, payment of deferred developer fees, and reasonable operating expenses have been
paid. Fund balance has been restricted in the Low and Moderate Income Housing Successor Special Revenue
Fund. At June 30, 2013, the outstanding balance of the loan was $5,481,313 which included a deferred interest
accrual of$1,081,313.
63
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 3—Receivables (Continued)
B. Loans Receivable(Continued)
Girls and Boys Club Construction Loan
The City has made a loan of$250,000 for construction of a new facility for the Boys and Girls Club. The loan is
interest free and will be repaid with equal annual payments over 20 years, starting in February 1999. Fund balance
has been restricted in the General Fund. At June 30, 2013,the outstanding balance of the loan was $68,750.
Rancho Vista Housing(Chelsea Investment Corporation)
In 2000, the City and RDA loaned $1,500,000 to CIC Eastlake, L.P. for the development and operation of Rancho
Vista Housing project, a multifamily affordable housing project. The loan is secured by promissory notes and a
deed of trust. The outstanding principal on the loan is to be repaid over fifty-five (55) years and interest accrues at
the simple interest rate of three (3%) percent per annum on unpaid principal. Payment of principal and interest, or
portions thereof, on the loan is made on an annual basis, out of a fund equal to fifty (50%) percent of the net cash
flow of the project. At June 30, 2013, the outstanding balance of the loan was $1,898,219 which included a
deferred interest accrual of$398,219.
St. &gis Park(Chelsea Investment Corporation)
In 2000, the RDA entered into a loan agreement with Chelsea Investment Corporation for the acquisition and
rehabilitation of the 119-unit Pear Tree Apartments at 1025 Broadway. All units are affordable to low-income
households. The loan is secured by a Deed of Trust and will accrue 6% interest for 52 years. Payment of principal
and interest is made on an annual basis out of a fund equal to 90% of the residual receipts. At June 30, 2013, the
outstanding balance of the loan was $2,471,025 which included a deferred interest accrual of$1,083,873.
Chula Vista Rehabilitation CHIP Loans
The Chula Vista Rehabilitation Community Housing Improvement Program (CHIP) is under the direct control of
the RDA. CHIP offers deferred and low interest rate home improvement loans to qualified borrowers residing
within a target area. Loan repayments are re-deposited into the program cash accounts and are redistributed as
future loans. Fund balance has been restricted in the Sundry Grants Special Revenue Fund, Housing Program
Special Revenue Fund and in the Low & Moderate Housing Successor Special Revenue Fund. At June 30, 2013,
the outstanding balance of the loan was $2,181,012 which included a deferred interest accrual of$169,017.
Park Village Apartments (Civic Center Barrio Housing CoLporation�
In 1991, the RDA entered into a loan agreement with the Civic Center Barrio Housing Corporation, a California
non-profit public benefit corporation. The loan was made for the purchase of land and the development of a 28-
unit low-income housing project. During 1992, the loan was assigned to Park Village Apartments Ltd., a
California limited partnership in which Civic Center Barrio Housing Corporation is the managing general partner.
The loan is secured by a deed of trust on the property and assignment of rents. Principal and interest are payable
monthly. In 2009, a second amendment to the loan was entered into changing the interest from 5% to 3% per
annum on the unpaid principal balance of the note. Fund balance has been restricted in the Low and Moderate
Income Housing Successor Special Revenue Fund. At June 30, 2013, the outstanding balance of the loan was
$191,134.
64
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 3—Receivables (Continued)
B. Loans Receivable(Continued)
Mobile Home Assistance Proms
The RDA entered into agreements with eligible residents of the Orange Tree Mobile home Park,whereby the RDA
loaned $250,030 as permanent financing assistance to residents for the purpose of purchasing certain mobile home
property. The loans are secured by deeds of trust on the property and mature in 2017 or when the property is sold.
Contingent interest will be charged based on calculations specified in the agreement. Fund balance has been
restricted in the Low and Moderate Income Housing Successor Special Revenue Fund. At June 30, 2013, the
outstanding balance of the loan was $36,105.
Los VVecinos (Wakeland Housing and Development Corporation)
In 2008, the RDA entered into a loan agreement with Wakeland Housing and Development Corporation to assist
the borrower in constructing 41 affordable multifamily units for occupancy by extremely low, very low and lower
income households. The loan amount of $5,680,000 was funded by the Low & Moderate Income Housing
Successor Special Revenue Fund. The loan bears an interest rate of 5% per annum. Principal and interest
payments will be made on an annual basis out of a fund equal to 50% of the residual receipts for years 1-30 and
75% of the residual receipts for years 31-54, until 55 years from the date the improvements are placed in service,
at which time, all principal and unpaid interest is due and payable. The improvements were placed in service on
February 7, 2008. At June 30, 2013, the outstanding balance of the loan was $7,197,732 which included a deferred
interest accrual of$1,517,732.
Main Plaza (Alpha III Development Inca
In 2003, the RDA entered into a loan agreement with Main Plaza, LP to assist in acquiring and improving certain
real property for occupancy by very low, low, and moderate income households. The loan bears an interest rate of
3%per annum. The loan is due and payable on the date that is 55 years from the date of the RDA's issuance of the
Certificate of Completion, which is in 2061. At June 30, 2013, the outstanding balance of the loan was $2,244,814
which included a deferred interest accrual of$444,814.
Seniors on Broadway QMAA C Protect)
The RDA entered into a loan agreement with Seniors on Broadway, Limited Partnership to assist in acquiring and
improving certain real property for occupancy by very low, low, and moderate income households. The loan bears
an interest rate of 3% per annum. The loan is due and payable on the date that is 55 years from the date of the
RDA's issuance of the Certificate of Completion. At June 30, 2013, the outstanding balance of the loan was
$4,264,315 which included a deferred interest accrual of$753,121.
The Landings (Chelsea Investment Corporation)
The RDA entered into a loan agreement with CIC Landings, L.P. to assist the borrower in constructing 92
affordable multifamily apartment units for occupancy by extremely low, very low and lower income households.
The loan bears an interest rate of 3% per annum. The loan is due and payable each and every year commencing
with the first anniversary of the issuance of the Certificate of Completion by the City in an amount equal to 50%of
the residual receipts. At June 30, 2013, the outstanding balance of the loan was $9,930,902 which included a
deferred interest accrual of$520,954.
65
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 3—Receivables (Continued)
B. Loans Receivable(Continued)
First Time Home Buyers proms
The Chula Vista First-Time Homebuyer Program is under the direct control of the Housing Authority and funded
through U.S. Department of Housing and Urban Development HOME funds. Currently administered by
Community HousingWorks, the program offers equity share deferred home gap financing loans to qualified
borrowers. Loan repayments are re-deposited into the program and are redistributed as future loans. Fund balance
has been restricted in the Sundry Grants Special Revenue Fund. At June 30, 2013, the outstanding balance of the
loan was $1,425,504.
Neighborhood Stabilization First Time Home Buyers proms
The Chula Vista Neighborhood Stabilization First-Time Homebuyer Program and Neighborhood Stabilization
Resale Program are under the direct control of the Agency and funded through U.S. Department of Housing and
Urban Development Neighborhood Stabilization funds. Currently administered by Community HousingWorks, the
Program offers equity share deferred home gap financing loans to qualified borrowers and an acquisition,
rehabilitation, and resale option to those qualifying in targeted areas. Loan repayments are re-deposited into the
program cash accounts and are redistributed as future loans. Fund balance has been restricted in the Sundry Grants
Special Revenue Fund. At June 30, 2013, the outstanding balance of the loan was $210,800.
NSP Rental Housing proms
The RDA entered into a loan agreement with San Diego Community Housing Corporation to acquire and
rehabilitate rental housing for very low income households. The loan is secured by promissory notes and a deed of
trust. The outstanding principal and interest amount of the loan will be repaid over fifty-five (55) years and shall
accrue at the simple interest rate of three (3%) percent per annum. Principal and interest are payable annually out
of a fund equal to 50% of residual receipts derived from the property and/or operation of the property. Fund
balance has been restricted in the Sundry Grants Special Revenue Fund. At June 30, 2013, the outstanding balance
of the loan was $1,096,682 which included deferred interest accrual of$96,682.
Community Retrofit proms
The Chula Vista Community Energy Revolving Loan Fund (RLF) is under the direct control of the City of Chula
Vista and was capitalized through the American Recovery & Reinvestment Act. The RLF offers fully amortized
low-interest rate home energy improvement loans to qualified borrowers residing within Chula Vista. The loans
are secured by a deed of trust on the properties. Principal and interest are payable monthly. Interest accrues
annually on the unpaid principal balance of the notes. Loan repayments are re-deposited into the program cash
accounts and are redistributed as future loans except for loans funded by General fund. Fund balance has been
restricted in the General Fund and Sundry Grants Special Revenue Fund. At June 30, 2013, the outstanding
balances of the loans were $10,432 and$147,409,respectively.
66
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 4—Interfund Balances and Transactions
Due to/Due from other funds
At June 30, 2013, interfund receivables and payables were as follows:
Due To Other Funds
Sundry Grants Nonmaj or
Special Revenue Governmental
Due From Other Funds Fund Funds Total
General Fund $ 313501889 $ 7221933 $ 410731822
Nonmajor Governmental Funds - 8731063 8731063
Total $ 313501889 $ 115951996 $ 419461885
Current interfund balances arise in the normal course of operations to cover cash shortages and are expected to be
repaid shortly after the end of the fiscal year.
Long-Term Advances
At June 30, 2013,balances were as follows:
Advances From Other Funds
City Nonmaj or
Debt Service Enterprise
Advances To Other Funds Fund Fund Total
General Fund $ 116211446 $ - $ 116211446
Developer Impact Capital Projects Fund 1017391925 - 1017391925
Park Acquisition Development Fund 1010951262 - 1010951262
Sewer Enterprise Fund 1415161516 411651299 1816811815
Total $ 3619731149 $ 411651299 $ 4111381448
City Council authorized loans to Public Facilities DIF for $12,950,160 and Western DIF for $36,094. The Public
Facilities DIF loan for $5,200,000 is due and payable in 13 years, with the first payment due in fiscal year 2012/2013
at an interest rate of 3.80% based on the pooled investment rate. The Public Facilities DIF loan for $5,300,000 is due
and payable in 13 years, with the first payment due in fiscal year 2013 at an interest rate of 0.56%based on the pooled
investment rate.
City Council authorized a loan to Western PAD from Eastern PAD in the amount of$9,630,000 to acquire the 14.41
acre site located in the lower Sweetwater Valley owned by the Redevelopment Agency and $310,000 to acquire the
1.89 acre site located at Auto Park Place, Chula Vista. The loan will be repaid as funds become available, either as a
result of credit acquisitions by the Agency or the payment of PAD fees by developers in western Chula Vista. The
Agency will ensure that PAD funds are repaid to fully fund the development of the park for which they were originally
collected. The balance was $10,095,262 at June 30, 2013.
The City Council authorized loans with indefinite terms from the Trunk Sewer fund to Salt Creek for $16,848,381, to
the Storm Drain fund for$744,612, and$803,331 from the Sewer Facility fund for capital improvement projects.
67
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 4—Interfund Balances and Transactions (Continued)
Trans fens In/Out
Interfund transfers for the year ended June 30, 2013 were as follows:
Transfers In
Sundry Grants City Nonmajor Nonmajor Governmental
General Special Debt Governmental Enterprise Activities
Transfers Out Fund Revenue Fund Service Fund Funds Funds Internal Service Total
General Fund S - S 1561541 S - S 410311076 S 4231178 S 3001000 S 419101795
Sundry Grants Special Revenue Fund 2771585 - - 8791809 - - 111571394
Low&Moderate Income Housing Special Revenue - - - 291000 - - 291000
Development Impact Fund - 591545 - 411611797 - - 412211342
Nonmajor Governmental Fund 513491267 271538 1001000 7561543 - - 612331348
Sewer Enterprise Fund 218241121 - - - 161060 - 218401181
Nonmajor Enterprise Funds 112101474 - 2501000 - - - 114601474
Total S 916611447 S 2431624 S 3501000 S 918581225 S 4391238 S 3001000 S 2018521534
General Fund - Operating support to reimburse the General Fund for City staff services and equipment. Total
amount of reimbursement was $9,661,447.
Sund�y Giants Special Revenue Fund—Transferring the General Fund's matching contribution to the federal grants
in the amount of $156,541. Reimbursing project costs from the Development Impact Funds and Assessment
District Improvement Funds in the amount of$87,083.
City Debt Service - Funding debt service funds for repayment of various long-term obligations amounted to
$350,000.
Non-major Governmental Funds - Funding debt service funds for repayment of various long-term obligations and
to fund various capital improvement projects amounted to $9,581,386. Other transfers were for operating support,
staff services and capital improvement projects in the amount of $9,000 from Home Program, $59,000 from
CDBG, and $29,000 from Low and Moderate Income Housing to Chula Vista Housing Authority, $614 from
General Fund and $79,224 from Transportation Sales Tax to Bicycle Facility. Transfer from General Fund to the
Residential Construction Tax Fund for debt service expense in the amount of$37,265 and staff reimbursement cost
from State Recreation Grants to Residential Construction Tax in the amount of$62,736.
Non-major EnteEprise Funds — Permit subsidies from the General Fund to the Development Services Fund in the
amount of$391,178. Operating support to reimburse the Development Services Fund for services provided. Total
amount of reimbursement was $48,060.
Internal Service Funds - Operating support to reimburse the Fleet Management Fund for internal services
provided. Total amount of reimbursement was $300,000.
68
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 5—Capital Assets
A. Government-Wide Financial Statements
Summary of changes in capital assets for governmental activities for the year ended June 30, 2013 are as follows:
Balance CIP Balance
June 30,2012 Additions Deletions Transfers June 30,2013
Capital assets,not being depreciated:
Land $ 7512131471 $ 110941540 $ - $ - $ 7613081011
Construction in progress 1710791100 912791396 - (61079,619) 2012781877
Total capital assets,not being depreciated 9212921571 1013731936 - (61079,619) 9615861888
Capital assets,being depreciated: -
Buildings 21117021502 9261372 - - 21216281874
Improvements other than buildings 12915691741 - - - 12915691741
Machinery and equipment 2718811393 416881379 (828,454) - 3117411318
Infrastructure 64717161692 - - 610791619 65317961311
Subtotal 1101618701328 516141751 (828,454) 610791619 1102717361244
Less accumulated depreciation -
Buildings (43,383,844) (41246,236) - - (47,630,080)
Improvements other than buildings (38,305,413) (21742,594) - - (41,048,007)
Machinery and equipment (24,119,244) (41827,923) 6631957 - (28,283,210)
Infrastructure (220,428,260) (17,899,397) - - (238,327,657)
Subtotal (326,236,761) (29,716,150) 6631957 - (355,288,954)
Total capital assets,being depreciated 69016331567 (24,101,399) (164,497) 610791619 67214471290
Total capital assets,net $ 78219261138 $ (13,727,463) $ (164,497) $ - $ 76910341178
Depreciation expense was charged to functions/programs as follows:
General government $ 311351026
Public safety 312741498
Public works 1918791844
Parks and recreation 213521784
Library 7221744
Internal service 3511254
Total depreciation expense $ 2917161150
69
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 5—Capital Assets (Continued)
A. Government-Wide Financial Statements (Continued)
Summary of changes in capital assets for business-type activities for the year ended June 30,2013 are as follows:
Balance CIP Balance
June 30,2012 Additions Deletions Transfers June 30,2013
Capital assets,not being depreciated:
Construction in progress $ 1,849,675 $ 345,594 $ - $ 2,195,269
Total capital assets,not being depreciated 1,849,675 345,594 - - 2,195,269
Capital assets,being depreciated:
Machinery and equipment 13,007,566 305,942 (26,179) - 13,287,329
Infrastructure 227,718,283 - - 227,718,283
Subtotal 240,725,849 305,942 (26,179) - 241,005,612
Less accumulated depreciation
Machinery and equipment (10,943,826) (1,054,612) 26,179 - (11,972,259)
Infrastructure (91,383,379) (5,183,989) - - (96,567,368)
Subtotal (102,327,205) (6,238,601) 26,179 - (108,539,627)
Total capital assets,being depreciated 138,398,644 (5,932,659) - - 132,465,985
Total capital assets,net $ 140,248,319 $ (5,587,065) $ - $ - $ 134,661,254
Depreciation expenses for business-type activities for the year ended June 30,2013 are as follows:
Sewer $ 5,541,984
Transit 636,617
Sewer DIFS 6000
Total depreciation expense $ 6,23801
B. Fiduciary Funds Financial Statements
Summary of changes in capital assets for fiduciary funds for the year ended June 30, 2013 are as follows:
Balance CIP Balance
June 30,2012 Additions Deletions Transfers June 30,2013
Capital assets,not being depreciated:
Land $ 9,502,300 $ - $ - $ - $ 9,502,300
Total capital assets,not being depreciated 9,502,300 - - - 9,502,300
Capital assets,being depreciated: -
Buildings 2,386,218 - - - 2,386,218
Subtotal 2,386,218 - - - 2,386,218
Less accumulated depreciation
Buildings (1,110,843) (47,726) - - (1,158,569)
Subtotal (1,110,843) (47,726) - - (1,158,569)
Total capital assets,being depreciated 1,275,375 (47,726) - - 1,227,649
Total capital assets,net $ 10,777,675 $ (47,726) $ - $ - $ 10,729,949
Depreciation expense for fiduciary funds for the year ended June 30,2013 was $47,726.
70
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt
Governmental Activities Long-Term Debt
A summary of changes in governmental activities long-term debt for the year ended June 30, 2013 is as follows:
Classification
Balance Debt Debt Balance Due within Due in More
June 30,2012 Issued Retired June 30,2013 One Year Than One Year
Certificate of Participation $ 13212901000 $ - $ (31915,000) $ 128,375,000 $ 412351000 $ 12411401000
Section 108 Loan 815941000 - (332,000) 812621000 3491000 719131000
Notes Payable 416951100 211741204 (461,638) 614071666 4481772 519581894
Capital Leases 6851267 - (405,354) 2791913 2791913 -
Bond Premium 251988 - (11181) 241807 - 241807
Bond Discount (831,944) - 401255 (791,689) - (791,689)
Total $ 14514581411 $ 211741204 $ (51074,918) $ 142,557,697 $ 513121685 $ 13712451012
A. Certificates of Participation
Classification
Balance Debt Debt Balance Due within Due in More
June 30,2012 Issued Retired June 30,2013 One Year Than One Year
2002 COP Police Facility $ 5113901000 $ - $ (11460,000) $ 4919301000 $ 115201000 $ 4814101000
2003 Refunding COP 112501000 - (11030,000) 2201000 2201000 -
2004 COP Civic Ctr Ph 1 3212951000 - (915,000) 3113801000 9501000 3014301000
2006 COP Civic Ctr Ph 2 1810001000 - (510,000) 1714901000 5301000 1619601000
2010 Refunding COP Corp Yard 2913551000 - - 2913551000 110151000 2813401000
Total $13212901000 $ - $ (31915,000) $128,375,000 $ 412351000 $12411401000
2 0 02 COP
In June 2002, the Chula Vista Public Financing Authority issued $60,145,000 in 2002 Certificates of Participation
to provide funds to construct the City's Police Headquarters, finance the reserve account of the certificates, to
capitalize interest during construction and to pay the cost of issuance of the certificates. The source of repayment
of the certificates is the lease payments to be made by the City to the Authority. Interest is payable semiannually
on February 1 and August 1 of each year commencing February 1, 2003. The certificates mature in 2032 and
principal is payable on August 1 each year commencing August 1, 2005. As of June 30, 2013 the outstanding
balance is $49,930,000.
71
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt(Continued)
Governmental Activities Long-Term Debt (Continued)
A. Certificates of Participation (Continued)
The annual debt service requirements for the 2002 Certificates of Participation outstanding at June 30, 2013 are as
follows:
Year Ending
June 30, Principal Interest Total
2014 $ 115201000 $ 213961546 $ 319161546
2015 115851000 213321465 319171465
2016 116601000 213321465 319221264
2017 117351000 212981784 319211706
2018 118151000 319211831 1916361841
2019-2023 1015251000 1916471509 1916361841
2024-2028 1315701000 1917151750 1916971250
2029-2033 1715201000 1917991500 1917831750
Total $ 4919301000 $ 7214441851 $ 9414321662
2003 Refunding
In May 2003, the Chula Vista Public Financing Authority (the "Financing Authority") issued its 2003 Refunding
Certificates of Participation to defease the 1993 Certificates, reimburse the City for amounts it has advanced to
prepay the equipment lease, finance a reserve account and pay for the cost of issuance of the Certificates. The
Certificates are to be repaid from lease payments made by the City to the Authority for leasing certain property.
Interest is payable semiannually on March 1 and September 1 of each year commencing September 1, 2003. The
certificates mature in 2013 and principal is payable on September 1 each year commencing September 1, 2003. As
of June 30, 2013 the outstanding balance is $220,000.
The annual debt service requirements for the 2003 Refunding Certificates of Participation outstanding at June 30,
2013 are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 2201000 $ 31850 $ 2231850
2004 Civic Center Project Phase I COP
In September 2004, the Chula Vista Public Financing Authority (the "Financing Authority") issued$37,240,000 in
2004 Certificates of Participation to provide funding for the first phase of the reconstruction, renovation, and
equipping of the City's Civic Center Complex. Proceeds will also be used to finance the reserve account of the
certificates, to capitalize interest during construction and to pay the cost of issuance of the certificates. The source
of repayment of the certificates is the lease payments to be made by the City to the Authority. Interest is payable
semiannually on March 1 and September 1 of each year commencing March 1, 2006. The certificates mature in
2034 and principal is payable on September 1 each year commencing September 1, 2006. As of June 30, 2013 the
outstanding balance is $31,380,000.
72
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt(Continued)
Governmental Activities Long-Term Debt (Continued)
A. Certificates of Participation (Continued)
2004 Civic Center Project Phase I COP, Continued
The annual debt service requirements for the 2004 Certificates of Participation Civic Center Project Phase I
outstanding at June 30, 2013 are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 9501000 $ 114421074 $ 213921074
2015 9851000 114061449 213911449
2016 110251000 114061449 213941511
2017 110651000 113871980 213931511
2018 111101000 213951911 1119681970
2019-2023 612801000 1119661346 1119681970
2024-2028 718151000 1119641348 1119631388
2029-2033 918701000 1119631525 1119651275
2034 212801000 213941000 417861500
Total $ 3113801000 $ 4613271082 $ 6212241648
2006 Civic Center Project Phase II COP
In March 2006, the Chula Vista Public Financing Authority (the "Financing Authority") issued $20,325,000 in
2006 Certificates of Participation to provide funds for the construction and equipping of certain improvements to
the Civic Center Complex of the City of Chula Vista and other existing City facilities, fund capitalized interest,
fund a reserve fund, and pay the costs incurred in connection with the execution and delivery of the Certificates.
The source of repayment of the certificates is the lease payments to be made by the City to the Authority. Interest
is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2006. The
certificates mature in 2036 and principal is payable on March 1 each year, commencing March 1, 2008. As of June
301 2013 the outstanding balance is $17,490,000.
The annual debt service requirements for the 2006 Certificates of Participation Civic Center Project Phase II
outstanding at June 30, 2013 are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 5301000 $ 7401389 $ 112701389
2015 5501000 7211309 112711309
2016 5701000 7211309 112701959
2017 5901000 7111134 112691584
2018 6151000 112721459 613491506
2019-2023 314451000 613451919 613491506
2024-2028 318951000 610181925 611841984
2029-2033 412551000 515231425 515221813
2034-2035 310401000 2771650 414211074
Total $ 1714901000 $ 2213321518 $ 3319101123
73
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt(Continued)
Governmental Activities Long-Term Debt (Continued)
A. Certificates of Participation (Continued)
2010 Refunding COP CoLp Yard
In February 2010, the Chula Vista Public Financing Authority (Authority) issued $29,355,000 in 2010 Certificates
of Participation to provide funds for the construction, reconstruction, modernization and equipping of Phase 3 of
the Civic Center Complex of the City of Chula Vista, to refinance the City's outstanding Certificates of
Participation Series A of 2000 (2000 Financing Project), fund capitalized interest, fund a reserve fund, and pay the
costs incurred in connection with the execution and delivery of the Certificates. The source of repayment of the
certificates is the lease payments to be made by the City to the Authority. Interest is payable semiannually on
March 1 and September 1 of each year, commencing September 1, 2010. The certificates mature in 2033 and
principal is payable on March 1 each year, commencing March 01, 2014. As of June 30, 2013 the outstanding
balance is $ 2913551000.
The annual debt service requirements for the 2010 Refunding Certificates of Participation Corp Yard outstanding
at June 30, 2013 are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 110151000 $ 114771206 $ 214921206
2015 110551000 114361606 214911606
2016 110851000 114361606 214871319
2017 111301000 114191463 214941344
2018 111701000 214891144 1214571356
2019-2023 618251000 1214581506 1214571356
2024-2028 817051000 1214531969 1214531038
2029-2033 813701000 915721025 1110081250
Total $ 2913551000 $ 4217431525 $ 5813411475
B. Section 108 Loan
Classification
Balance Debt Debt Balance Due within Due in More
June 30,2012 Issued Retired June 30,2013 One Year Than One Year
Section 108 Loan $ 815941000 $ - $ (332,000) $ 81262,000 $ 3491000 $ 719131000
Total $ 815941000 $ - $ (332,000) $ 81262,000 $ 3491000 $ 719131000
In June 2008,the City entered into a Contract for Loan Guarantee Assistance with the U.S. Department of Housing
and Urban Development ("HUD") as part of the Section 108 Loan Program in the amount of $9,500,000. The
Section 108 Loan is an "advance" of future CDBG entitlement funds and, as such, is repaid with a portion of the
City's annual entitlement. Proceeds of the loan will be used to fund multiple capital improvement projects. Debt
service payments will be made with future CDBG entitlements for 20 years, with interest payments beginning with
fiscal year 2009. As of June 30, 2013, the outstanding balance is $8,262,000. The annual debt service payments
are as follows:
74
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6-Long-Term Debt(Continued)
Governmental Activities Long-Term Debt (Continued)
B. Section 108 Loan (Continued)
Year Ending
June 30, Principal Interest Total
2014 $ 349,000 $ 403,752 $ 752,752
2015 367,000 389,175 756,175
2016 385,000 389,175 758,242
2017 404,000 381,578 759,858
2018 425,000 762,118 3,815,100
2019-2023 2,464,000 3,814,650 3,815,100
2024-2028 3,144,000 3,775,761 3,787,573
2029 724,000 743,620 1,493,476
Total $ 8,262,000 $ 10,659,829 $ 15,938,276
C. Notes Payable
Classification
Balance Debt Debt Balance Due within Due in More
June 30,2012 Issued Retired June 30,2013 One Year Than One Year
The Adamo-Parking Structure Note $ 82,180 $ - $ (47,523) $ 34,657 $ 34,657 $ -
Taxable QECB Lease Purchase Agreement - 2,174,204 - 2,174,204 - 2,174,204
California Energy Commission(CEC)Loan#1 660,586 - (154,566) 506,020 154,566 351,454
California Energy Commission(CEC)Loan#2 1,959,134 - (63,789) 1,895,345 63,789 1,831,556
California Energy Commission(CEC)Loan#3 1,74708 - (160,223) 1,587,445 160,223 1,427,222
SDG&E OBF Loan#1(Parkway Boiler) 7602 - (8,518) 68,144 M18 59,626
SDG&E OBF Loan#2(Transit HVAC) 168,870 - (27,019) 141,851 27,019 114,832
Total CEC Loans/SDG&E On-Bill Financing 4,612,920 - (414,115) 4,19805 414,115 3,78400
Total $ 405,100 $ 2,174,204 $ (461,638) $ 6,40706 $ 448,772 $ 5,958,894
The Adamo -Parking Structure Note
In January 1994, the City entered into a loan agreement with a private party in order to purchase certain land
acquisitions and improvements for the ultimate purpose of constructing a three-level parking structure. The note
calls for 240 monthly payments of principal and interest, commencing in April 1994 in the initial amount of
$2,548 and increasing 3% percent annually. The annual interest rate is 8.29%. As of June 30, 2013, the
outstanding balance is $34,657. The annual debt service payments are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 341657 $ 11086 $ 351743
On December 21, 2012, the City entered into a lease purchase agreement with a private party to purchase certain
energy conservation equipment. The lease/purchase agreement would bridge the financial gap between the
Municipal Street Listing Retrofit Project capital costs and the available rebates for energy conservation equipment.
As of June 30, 2013,the outstanding balance is $2,174,204. The annual debt service requirements are as follows:
75
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt(Continued)
Governmental Activities Long-Term Debt (Continued)
C. Notes Payable (Continued)
Taxable QECB Lease/Purchase Agreement(Continued)
Year Ending
June 30, Principal Interest Total
2014 $ 1711187 $ 1271554 $ 2981741
2015 1821660 771515 2601176
2016 1841323 701265 2541588
2017 1861000 621950 2481950
2018 1871693 551567 2431260
2019-2023 9641399 1641729 111291129
2024-2025 2971942 111816 3091758
Total $ 211741204 $ 5701398 $ 217441602
California Enew Commission Loans/SDG&E On-Bill Financing
On September 25, 2007, the City Council approved Resolution 2007-241 authorizing the City's participation in the
California Energy Commission ("CEC") and the SDG&E On-Bill Financing program. The loans would bridge the
financial gap between energy conservation project capital costs and the available rebates for energy conservation
equipment. As of June 30, 2013, the outstanding balance is $4,198,805.
D. Capital Leases
Classification
Balance Debt Debt Balance Due within
June 30,2012 Issued Retired June 30,2013 One Year
SD County Regional Comm.System $ 54401 $ - $ (264,948) $ 279,913 $ 279,913
Medical Resuscitation Equipment 140,406 - (140,406) - -
Total $ 685,267 $ - $ (405,354) $ 279,913 $ 279,913
SD County&gional Communication System
The City has participated in the San Diego County Regional Communications System("RCS"). The City financed
its share of the RCS network infrastructure over 14 years in the amount of$2,809,405. The agreement with the
County provided the City with full partnership in the RCS. As of June 30, 2013, the outstanding balance is
$279,913.
The future minimum lease obligation and the net present value of these minimum lease payments as of June 30,
2013, are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 2791913 $ 151815 $ 2951728
76
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt(Continued)
Fiduciary Funds Long-Term Debt
A summary of changes in fiduciary funds long-term debt for the year ended June 30, 2013 is as follows:
Classification
Balance Debt Debt Balance Due within Due in More
June 30,2012 Issued Retired June 30,2013 One Year Than One Year
Tax Allocations Bonds $ 43,005,000 $ - $ (1,020,000) $ 41,985,000 $ 4,235,000 $ 124,140,000
ERAF Loan $ 710,000 $ - $ (185,000) $ 525,000 $ 195,000 $ 330,000
Total $ 43,715,000 $ - $ (1,205,000) $ 42,510,000 $ 4,430,000 $ 124,470,000
A. Tax Allocation Bonds
Classification
Balance Debt Debt Balance Due within Due in More
June 30,2012 Issued Retired June 30,2013 One Year Than One Year
2006 Senior Tax Allocation
Refunding Bonds,Series A $ 11,080,000 $ - $ (540,000) $ 10,540,000 $ 565,000 $ 9,975,000
2006 Subordinate Tax Allocation
Refunding Bonds,Series B 10,300,000 - (480,000) 9,820,000 500,000 9,320,000
2008 Tax Allocation
Refunding Bonds 21,625,000 - - 21,625,000 - 21,625,000
Total $ 43,005,000 $ - $ (1,020,000) $ 41,985,000 $83,970,000 $124,935,000
2006 Senior Tax Allocation Refunding Bonds, Series A
In July 2006, the RDA issued the 2006 Senior Tax Allocation Refunding Bonds, Series A in the amount of
$13,435,000 to refinance the RDA's outstanding Bayfront/Town Centre Redevelopment Project 1994 Senior Tax
Allocation Refunding Bonds, Series A, and to satisfy the reserve requirement for the Bonds and provide for the
costs of issuing the Bonds. The original bond proceeds were used in the acquisition of property, demolition,
relocation,public improvements and funding the Low and Moderate Income Housing Project. The bonds consist of
serial bonds which mature in 2028. Interest is payable semiannually on March 1 and September 1 at interest rates
ranging from 4.00% to 4.60%. The bonds are subject to optional redemption on any interest payment date on or
after September 1, 2013, at various redemption prices. The bonds are payable solely from certain tax increment
revenues of the RDA and other funds held under the indenture. As of June 30, 2013, the outstanding balance is
$10,540,000. The annual debt service requirements are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 5651000 $ 4501133 $ 110151133
2015 5901000 4241145 110141145
2016 6151000 4241145 110391145
2017 6401000 4101870 110501870
2018 6651000 1,011,314 116761314
2019-2023 317751000 510451137 818201137
2024-2028 316901000 410621670 717521670
Total $ 1015401000 $1118281414 $ 2213681414
77
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt(Continued)
Fiduciary Funds Long-Term Debt(Continued)
A. Tax Allocation Bonds (Continued)
2006 Subordinate Tax Allocation Refunding Bonds, Series B
In July 2006, the RDA issued $12,325,000 2006 Subordinate Tax Allocation Refunding Bonds, Series B to
refinance the RDA's outstanding Bayfront/Town Centre Redevelopment Project 1994 Senior Tax Allocation
Refunding Bonds, Series C and D, and to satisfy the reserve requirement for the Bonds and provide for the costs of
issuing the Bonds. The original bond proceeds were used in the acquisition of property, demolition, relocation,
public improvements and funding the Low and Moderate Income Housing Project. The bonds consist of
$7,995,000 serial bonds which mature from 2007 to 2021 in amounts ranging from $290,000 to $735,000 and term
bonds of$4,330,000 which mature in 2028. Interest is payable semiannually on April 1 and October 1 at interest
rates ranging from 4.00%to 6.00%. The bonds are subject to optional redemption on any interest payment date on
or after October 1, 2013, at various redemption prices. The bonds are payable solely from certain tax increment
revenues of the Agency and other funds held under the indenture. As of June 30, 2013, the outstanding balance is
$9,820,000. The annual debt service requirements are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 5001000 $ 4871934 $ 9871934
2015 5251000 4641096 9891096
2016 5501000 4641096 110141096
2017 5751000 4511759 110261759
2018 6051000 9861484 115911484
2019-2023 315101000 419141119 814241119
2024-2028 315551000 319681306 715231306
Total $ 918201000 $1117361794 $ 2115561794
2008 Tax Allocation Refunding Bonds
In July 2008, the RDA issued the 2008 Tax Allocation Refunding Bonds in the amount of $21,625,000 to
refinance the RDA's outstanding Merged Redevelopment Project 2000 Tax Allocation Bonds, to satisfy the
reserve requirement for the Bonds, to provide for the costs of issuing the Bonds, and to provide funds to finance or
refinance redevelopment activities. The bonds consist of $11,570,000 serial bonds which mature from 2014 to
2028 in amounts ranging from $575,000 to $1,020,000 and term bonds of $3,345,000 and $6,710,000 which
mature in 2031 and 2036 respectively. Interest is payable semiannually on March 1 and September 1 at interest
rates ranging from 4.00%to 4.94%. The bonds are subject to optional redemption on any interest payment date on
or after September 1, 2019, at various redemption prices. The bonds are payable solely from certain tax increment
revenues of the Agency and other funds held under the indenture. As of June 30, 2013, the outstanding balance is
$21,625,000. The annual debt service requirements are as follows:
78
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt(Continued)
Fiduciary Funds Long-Term Debt(Continued)
A. Tax Allocation Bonds (Continued)
2008 Tax Allocation Refunding Bonds (Continued)
Year Ending
June 30, Principal Interest Total
2014 - 9631636 9631636
2015 5751000 9521136 115271136
2016 6001000 9521136 115521136
2017 6201000 9401636 115601636
2018 6451000 115231936 211681936
2019-2023 316351000 716101881 1112451881
2024-2028 414751000 715921858 1210671858
2029-2033 515851000 714341113 13,019,113
2034-2037 514901000 6661900 611561900
Total $2116251000 $2816371233 $ 5012621233
Pledged Revenues
The Successor Agency has pledged tax revenues to the repayment of the RDA's debts transferred to it on February
11 2013 through the final maturity of the Bonds, or early retirement of the Bonds,whichever comes first.
Tax revenues consist of Redevelopment Property Tax Trust Fund distributions allocated to the RDA's project
areas pursuant to Section 33670 of the Redevelopment Law excluding that portion of such tax increment revenues
required to be paid under tax-sharing agreements unless the payment of such amounts has been subordinated to
payment of debt services on the Bonds. Redevelopment Property Tax Trust Fund distributions earned in fiscal year
2013 was $3,949,717 and total debt service of all Tax Allocation Bonds paid was $2,968,865. The Bonds required
75% of net distributions. In future years, annual principal and interest payments on the Tax Allocation Bonds are
expected to require 75% of Redevelopment Property Tax Trust Fund distributions.
B. ERAF Loan
Classification
Balance Debt Debt Balance Due within Due in More
June 30,2012 Issued Retired June 30,2013 One Year Than One Year
2005 ERAF $ 2701000 $ - $ (85,000) $ 185,000 $ 901000 $ 951000
2006 ERAF 4401000 - (100,000) 3401000 1051000 2351000
Total $ 7101000 $ - $ (185,000) $ 5251000 $ 1951000 $ 3301000
79
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt(Continued)
Fiduciary Funds Long-Term Debt(Continued)
D. ERAF Loan, Continued
2005 ERAF
In May 2005, the RDA participated in a $765,000 Loan Agreement with the California Statewide Communities
Development Authority to finance their 2005 share of ERAF Payments to the County Auditor. The principal
balance of $310,000 was transferred to the Successor Agency on February 1, 2013. As of June 30, 2013, the
outstanding balance is $185,000. The annual debt service requirements are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 901000 $ 101356 $ 1001356
2015 951000 51880 1001880
Total $ 1851000 $ 161236 $ 2011236
2006 ERAF
In May 2006, the RDA participated in a $7930,000 Loan Agreement with the California Statewide Communities
Development Authority to finance their 2006 share of ERAF Payments to the County Auditor. As of June 30,
2013, the outstanding balance is $340,000. The annual debt service requirements are as follows:
Year Ending
June 30, Principal Interest Total
2014 $ 105,000 $ 20,188 $ 125,188
2015 115,000 14,282 129,282
2016 120,000 7,792 127,792
Total $ 340,000 $ 42,262 $ 382,262
Special Assessment Debt—Non-City Obligations
Bonds issued to finance public improvement projects in certain assessment districts are liabilities of the property
owners and are secured by liens against the assessed properties. The City acts as an agent for collection of principal
and interest payments by the property owners and remittance of such monies to the bondholders. The City has no
obligation or duty to pay any delinquency out of any available funds of the City.Neither the faith, credit, nor the taxing
power of the City is pledged to the payment of the bonds. Therefore, none of the following obligations are included in
the accompanying basic financial statements. At June 30, 2013, the special assessment debts outstanding are as
follows:
80
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 6—Long-Term Debt(Continued)
Special Assessment Debt—Non-City Obligations (Continued)
Original Outstanding
Amount June 30,2013
CFD 06-1A Eastlake Woods,Vista,Land Swap $ 3910001000 $ 3219601000
CFD 06-1 B Eastlake Woods,Vista,Land Swap 718801000 617801000
CFD 01-2 McMillin Otay Valley Ranch Village 6 1012501000 815851000
CFD 08-I Otay Ranch Village 2116551000 1812801000
CFD 07-1 Otay Ranch Village 11 2810501000 2116751000
CFD 12-1 McMillin Otay Ranch Village 7 2215651000 1712651000
CFD 2001-1B San Miguel Ranch 2005 Improvement 1212301000 1019651000
CFD 13-1 McMillin Otay Ranch Village 7 1616201000 919501000
CFD 07-1 McMillin Otay Ranch Village 1 1619501000 1318301000
2005 Revenue Refunding Bonds 9319301000 7416501000
AD 94-I Eastlake Greens Phase II 714641474 216251000
RAD 2001-1 Refunding Revenue Bonds Residential 2014451000 818651000
RAD 2001-2 Refunding Revenue Bonds Commercial 917051000 114351000
Industrial Development Revenue Bonds, 1992 Series A-D 25010001000 15010001000
Industrial Development Revenue Bonds, 1996 Series A-B 9819001000 9819001000
Industrial Development Revenue Bonds, 1997 Series A 2510001000 2510001000
Industrial Development Revenue Bonds,2004 Series A-F 25112651000 25112651000
Industrial Development Revenue Bonds,2006 Series A 16112401000 16112401000
Total $ 1109311491474 $ 91412701000
Multi-Family Housing Bonds—Non-City Obligations
Bonds issued to finance public improvement and/or affordable multifamily housing projects are liabilities of the
developers and are secured by liens against the assessed property. The City has no obligation or duty to pay any
delinquency out of any available funds of the City. Neither the faith, credit, nor the taxing power of the City is
pledged to the payment of the bonds. Therefore, none of the following obligations are included in the
accompanying basic financial statements. At June 30, 2013, the multi-family housing bonds outstanding are as
follows:
Original Outstanding
Amount June 30,2013
2000 A Pear Tree Manor Project $ 517791000 $ 415491000
1999 A Villa Serena Project 515661500 510551000
2007 A Oxford Terrace Apartments 212761000 118261000
2007 B Oxford Terrace Apartments 213631000 213631000
2006 A Teresina Apartment Projects 3719401000 3719401000
2007 C The Landing Apartment 1616701000 518701301
Total $ 7015941500 $ 5716031301
81
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 7—Unearned/Deferred Revenue
A. Government-Wide Financial Statements
At June 30, 2013,unearned revenue was reported as follows:
Public Facilities Development Impact Fee Prepayment $ 112031496
UTT Wireless 214861873
Grants 911581927
Total $ 1218491296
B. Governmental Fund Financial Statements
At June 30, 2013, deferred revenue was reported as follows:
Interest receivable on:
Advances to other funds $ 318641821
Loans Receivable:
South Bay Community Services 211711019
South Bay Community Villas,L.P. 110811313
St.Regis Park 110831873
Chula Vista Rehabilitation CHIP Loans 2571377
Los Vecinos(Wakeland Housing&Development) 115171732
Seniors on Broadway(MAAC Project) 7531121
Rancho Vista Housing(Chelsea Invest Corp.) 3981219
Alpha III Development(Main Plaza) 4441814
The Landings(Chelsea Invest.Corp) 614281902
Long-term receivables 2717111537
Public Facilities DIF 112031496
Grants 911581927
Total $ 5610751151
Note 8—Compensated Absences
Government-Wide Financial Statements—Governmental Activities
Summary of changes in governmental activities compensated absences for the year ended June 30, 2013 is as follows:
Classification
Balance Balance Due within Due in More
July 1,2012 Additions Deletions June 30,2013 One Year Than One Year
Compensated Absences $ 616521700 $ 412021012 $ (41115,496) $ 61739,216 $ 410001000 $ 217391216
Total $ 616521700 $ 412021012 $ (41115,496) $ 61739,216 $ 410001000 $ 217391216
The City's liability for vested and unpaid compensated absences (accrued vacation) has been accrued and amounts to
$6,739,216 at June 30, 2013. For the governmental activities claims and judgments and compensated absences are
generally liquidated by the general fund. In business-type funds, the liabilities are reported in the funds as the benefits
vest and are earned.
82
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 8—Compensated Absences (Continued)
Government-Wide Financial Statements—Governmental Activities (Continued)
Compensated absences at June 30, 2013 are obligations of the following funds:
Governmental Funds $ 6,670,562
Fleet Mangement 68,654
$ 6,739,216
Governmental-Wide Financial Statements—Business-Type Activities
Compensated absences at June 30, 2013 are obligations of the following funds:
Classification
Balance Balance Due within Due in More
July 1,2012 Additions Deletions June 30,2013 One Year Than One Year
Compensated Absences $ 1941887 $ 7221458 $ (386,592) $ 5301753 $ 3861592 $ 1441161
Total $ 1941887 $ 7221458 $ (386,592) $ 5301753 $ 3861592 $ 1441161
Note 9—Other Required Fund Disclosures
At June 30, 2013, the following funds had deficit fund equity:
Fund Type Funds Deficit
Debt Service City Debt Services Fund $ (36,973,149)
Fiduciary Fund RDA Successor Agency Private Purpose Trust Fund $ (32,107,724)
Special Revenue Transportation Grants $ (283,783)
Special Revenue Traffic Safety $ (11042)
City Debt Service Fund - The City Debt Service fund had an accumulated deficit of $(36,973,149), due to the fund
booking its long term advances. The City expects to repay the advances via transfers from other funds.
RDA Successor Agency Private Purpose Trust - The RDA Successor Agency Private Purpose Trust fund had an
accumulated deficit of $(37,241,812), which resulted from insufficient revenues received through property tax
increment. Now that the Redevelopment Agency has been dissolved, the Successor Agency expects to receive
sufficient Redevelopment Property Tax Trust Fund distributions through the remaining life of the bonds to fully fund
their repayment.
Transportation Grants Fund - The Transportation Grants fund had an accumulated deficit of$(283,783), due to the
fund booking its long term advances. The City expects to repay the advances via transfers from other funds.
Traffic Safety Fund- The Traffic Safety fund had an accumulated deficit of$(1,042), due to the fund booking its long
term advances. The City expects to repay the advances via transfers from other funds.
83
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 10—Self-Insurance Accrued Liabilities
The City is self-insured for the first $500,000 per occurrence for its general liability losses including personal injury,
property damage, errors and omissions, automobile liability and employment practices liability. For those losses
between $500,000 and $2,000,000 per occurrence the City pools its liabilities through its membership in the San Diego
Pooled Insurance Program Authority (SANDPIPA). Insurance for losses in excess of the $2,000,000 up to
$45,000,000 is purchased on a group basis by the member cities.
SANDPIPA is a joint powers authority comprised of twelve San Diego County cities. The Board of Directors consists
of one staff representative (and an alternate) from each of the member cities as designated by the city's governing
body. Each member city has equal representation on the Board of Directors. The Board of Directors is liable for all
actions of SANDPIPA.
The SANDPIPA Board of Directors establishes an Executive Committee that is responsible for the administration and
operation of the risk management programs of SANDPIPA, subject to the control of the Board. The Executive
Committee consists of the Board President, Vice-President, Treasurer and a member at-large nominated by the Board
President and approved by a vote of the Board. The Executive Committee is responsible for the oversight of all
SANDPIPA operations, including preparation and submittal of the Pool's annual budget to the Board for its review and
approval.
Annual pool premiums and assessments are approved by the Board of Directors and are adjusted annually based on the
member city's incurred losses; the member's share of such losses and other expenses as a proportion of all member's
losses; historical contributions to reserves (including reserves for IBNR losses); the cost to purchase excess liability
insurance and other coverage and a proportionate share of administrative expenses.
The City is self-insured for the first$1,000,000 per occurrence for workers' compensation liabilities. Excess workers'
compensation coverage is obtained through participation in the CSAC Excess Insurance Authority's Excess Workers'
Compensation Program. As of June 30, 2013, there are 160 member entities participating in the program that offers
per occurrence coverage up to $5,000,000 through pooled resources and from $5,000,000 to statutory limits via group
purchased excess insurance policies.
Only the probable amounts of loss as estimated by the City's Risk Manager and Attorney, including an estimate of
incurred-but-not reported losses, have been recorded as liabilities in the accompanying basic financial statements.
There were no reductions in insurance from the prior year and there were no insurance settlements that exceeded
coverage in each of the past three years.
The aggregate change in the balance of claims payable as recorded in the Governmental Activities were as follows:
Balance at Claims and Balance at
Beginning of Changes in Claims End of
Fiscal Year Estimates Payments Fiscal Year
2010-2011 $ 1818011604 $ 719601587 $ (41330,098) $ 2214321093
2011-2012 2214321093 313721465 (31614,694) 2211891864
2012-2013 2211891864 312881127 (41456,532) 2110211459
The liabilities for claims and judgments typically will be liquidated from the General Fund.
84
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 11 —Pension Plans
A. California Public Employees'Retirement Plan
Plan Description
The City contributes to the California Public Employees' Retirement System ("PERS"), an agent multiple-employer
public employees defined benefit pension plan. PERS provides retirement and disability benefits, annual cost-of-living
adjustments, and death benefits to plan members and beneficiaries. PERS acts as a common investment and
administrative agent for participating public entities within the State of California. Benefit provisions and all other
requirements are established by State statute and City ordinance. Copies of PERS' annual financial report may be
obtained from their Executive Office located at 400 P Street, Sacramento, California 95814. A separate report for the
City's plan within the Fund is not available.
Funding Policy
Plan participants are required to contribute a percentage of their annual covered salary. The City has implemented a
three Tiered structure. Participants become members of a specific tier based upon their date of membership to PERS.
Miscellaneous members contribute 8%, 7% and 6.75% of covered salary for tiers 1,2,3 respectively. Safety members
contribute 9% regardless of PERS membership date or tier. In addition, the City is required to make an employer
contribution at an actuarial determined rate of 23.668% and 26.492% for miscellaneous and safety employees
respectively, of annual covered payroll for the year ended June 30, 2013. The City's total covered payroll for the year
ending June 30, 2012 was $74,422,435. The contribution requirement of plan members and the City are established
and may be amended by PERS.
Readers of this document are advised to refer directly to the full disclosure of actuarial and funding practices of the
multi-employer Ca1PERS system, which this agency does not control. Ca1PERS may employ actuarial techniques such
as extended smoothing and amortization periods that would result in future increases in required employer
contributions which are not reflected in these financial statements, particularly in the event of any future changes in
governmental financial reporting standards and system-wide funding practices. Further information on its financial
practices should be requested from CalPERS.
Annual Pension Cost
For fiscal year 2013, the City's annual pension cost of $18,188,432 for PERS was equal to the City's required and
actual contributions. The required contribution was determined as part of the June 30, 2010, actuarial valuation using
the entry age normal actuarial cost method. The actuarial assumptions included (a) 7.75% investment rate of return
(net of administrative expenses), (b) projected salary increases range from 3.55% to 14.45% for miscellaneous
employees and 3.55% to 13.15% for safety employees depending on age, service, and type of employment, and (c)
3.25% per year cost-of-living adjustments. Both (a) and (b) included an inflation component of 3%. The actuarial
value of PERS assets was determined using techniques that smooth the effects of short-term volatility in the market
value of investments over a three year period. PERS unfunded actuarial accrued liability (or surplus) for both
miscellaneous and safety employees are being amortized as a level percentage of projected payrolls over a closed 20-
year period for prior and current service unfunded liability.
85
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 11 —Pension Plans (Continued)
A. California Public Employees'Retirement Plan (Continued)
Annual Pension Cost(Continued)
THREE-YEAR TREND INFORMATION FOR PERS
Annual Pension Cost(APC) Percentage of Net Net
Miscellaneous Safety APC Pension Pension
Fiscal Year Employees Employees Total Contributed Obligation Asset
6/30/2011 $ 919521829 $ 911391398 $ 1910921227 100% $ - $ 311751108
6/30/2012 1215631479 1114321810 2319961289 100% - 2461072
6/30/2013 914821754 817051678 1811881432 100% - 191071
Most Recent Actuarial Study—Schedule of Funding Progress
Unfunded
Actuarial
Entry Age Unfunded Liability as
Actuarial Actuarial Actuarial Actuarial Percentage of
Valuation Assets Accrued Accrued Funded Covered Covered
Date Value Liability Liability Ratio Payroll Payroll
Miscellaneous:
6/30/2012 $ 29916591390 $ 39519721103 $ 9613121713 75.7% $ 4113791439 232.75%
Safety:
6/30/2012 $ 28912571775 $ 33713681764 $ 4811101989 85.7% $ 3310421996 145.60%
B. Defined Contribution Pension Plan
The City provides pension plan benefits for all of its part-time employees through a defined contribution plan (Public
Agency Retirement Plan). In a defined contribution plan, benefits depend solely on amounts contributed to the plan
plus investment earnings. The plan is administered by Phase II Systems. All part-time employees are eligible to
participate from the date of employment. Federal legislation requires contributions of at least 7.5% to a retirement
plan, and City Council resolved to match the employees' contributions of 3.75%. The City's contributions for each
employee (and interest earned by the accounts) are fully vested immediately.
For the year ended June 30, 2013, the City's total hourly payroll and covered payroll was $1,782,958. The City made
employer contributions of$66,861 (3.75% of current covered payroll), and employees contributed $66,861 (3.75% of
current covered payroll).
86
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 12—Post Retirement Health Benefits
Plan Description
The City provides a Retiree Healthcare Plan, a single employer defined benefit plan, which allows retirees to purchase
healthcare coverage under the City's medical plan. Retirees pay 100% of the premiums. Retirees not eligible for
Medicare pay the same healthcare premiums as active employees, even though retiree's healthcare costs are greater
than that of active employees. This results in an implied subsidy of retiree's healthcare costs by the City. In fiscal year
2012, the City entered into an agreement with various bargaining groups eliminating the subsidized retiree health care
rates for employees hired under the Second Tier Ca1PERS Retirement Plan. The postemployment benefit is a single-
employer plan. The plan has not been audited and therefore, there is no audited GAAP-basis postemployment benefit
plan report available.
Eligibility
Employees are eligible for retiree health benefits if they retired from the City on or after age 50 (unless disabled) and
are eligible for PERS pension. The benefits are available only to employees who retired from the City. Membership
of the plan consisted of the following at June 30, 2013:
Police Fire Miscellaneous Total
Eligible active employee 201 124 558 883
Enrolled eligible retirees 19 9 192 220
The information above does not reflect current retirees that are not yet enrolled in the healthcare plan but are eligible to
enroll in the plan at a later date.
Funding Policy
The City offers an implied subsidy benefit paid from the City's general fund. The City's contribution is based on pay-
as-you-go. The retirees pay 100% of their individual premium except for the retirees who retire under the incentive
plan. The City is contributing $452 monthly in premium on behalf of one employee who retired under the incentive
plan in fiscal year 2013.
Annual OPEB Cost and Net OPEB Obligation
The City's annual other postemployment benefit (OPEB) cost (expense) is calculated based on the annual required
contribution ("ARC") of the employer, an amount actuarially determined in accordance with the parameters of GASB
Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal
cost each year and amortize any unfunded actuarial liabilities (or funding excess)not to exceed thirty years.
87
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 12—Post Retirement Health Benefits (Continued)
Annual OPEB Cost and Net OPEB Obligation (Continued)
The following table shows the components of the City's annual OPEB cost for the year, the amount actually
contributed to the plan, and changes in the City's net OPEB obligation:
2013 2012 2011
Annual required contribution $ 119741000 $ 118031000 $ 114701000
Interest on net OPEB obligation 1871000 1511000 1081000
Adjustment to the annual required contribution (460,000) (285,000) -
Net OPEB cost 117011000 116691000 115781000
Contribution made (359,000) (537,000) (574,000)
Increase in net OPEB liability 113421000 111321000 110041000
Net OPEB liability,beginning of the year 416851000 315531000 215491000
Net OPEB liability,end of year $ 610271000 $ 416851000 $ 315531000
The City's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net OPEB
obligation for 2011, 2012 and 2013 were as follows:
Percentage of Net
Annual Actual Annual OPEB OPEB
Fiscal Year OPEB Cost Contributions Cost Contributed Obligation
2010-2011 1,578,000 57400 36% 3,55300
2011-2012 10900 53700 32% 40500
2012-2013 1,701,000 35900 21% 6,02700
Funded Status and Funding Progress
As of June 30, 2013, the most recent actuarial valuation date, the plan was not funded in its initial year of
implementation. The actuarial accrued liability for benefits was $13,081,000, and the actuarial value of assets was $0,
resulting in an unfunded actuarial liability ("UAAL") of$13,081,000 and a funded ratio (actuarial value of assets as a
percentage of the actuarial liability) of 0%.
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the
probability of occurrence of events far into the future. Examples include assumptions about the future employment,
mortality and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual
required contributions of the employer are subject to continual revision as actual results are compared with past
expectations and new estimates are made about the future. The schedule of funding progress, presented as required
supplementary information following the notes to financial statements, presents multi-year trend information about
whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued
liabilities for the benefits.
88
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 12—Post Retirement Health Benefits (Continued)
Actuarial Methods and Assumptions
Projections of benefits for financial reporting purpose are based on the substantive plan (the plan as understood by the
employer and the plan members) and include the types of benefits provided at the time of each valuation and the
historical pattern of sharing of benefits costs between employer and plan members to that point. The actuarial methods
and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial
liabilities and the actuarial assets, consistent with the long-term respective of the calculations.
The actuarial cost method used for determining the benefit obligation is the Entry Age Normal Cost Method. The
actuarial assumptions included a 4.0 % discount rate, the inflation rate for HMO's starts at 8.5% (the increase in 2014
premiums over 2013) and grades down to 5.0% (2021 premiums over 2020) and remains at 5.0% into the future. This
assumption means healthcare is assumed to increase, on the average, 6.75% a year for HMOs/PPOs Non-Medicare and
6.95% a year for HMOs/PPOs Medicare a year for the next seven years after 2013. The general inflation assumption
rate is 3% and is assumed that healthcare will level off at 1.5% over general inflation. The UAAL is being amortized
as a level percentage of projected payroll over 30 years.
Most Recent Actuarial Study—Schedule of Funding Progress
Unfunded
Actuarial
Entry Age Unfunded Liability as
Actuarial Actuarial Actuarial Actuarial Percentage of
Valuation Assets Accrued Accrued Funded Covered Covered
Date Value Liability Liability Ratio Payroll Payroll
6/30/2012 $ - $ 1310811000 $ (13,081,000) 0.00% $ 6219231000 (20.79)%
Note 13—Pollution Remediation Obligations
The City is required to estimate the components of expected pollution remediation outlays and determine whether
outlays for those components should be accrued as a liabilities or, if appropriate, capitalized when goods and services
are acquired if one of the following five specified obligating events occurs:
• The City is compelled to take pollution remediation action because of an imminent endangerment;
• The City violates a pollution prevention-related permit or license;
• The City is named, or evidence indicates that it will be named, by a regulator as a responsible party or
potentially responsible party for remediation, or as a government responsible for sharing costs;
• The City is named, or evidence indicates that it will be named, in a lawsuit to compel participation in pollution
remediation;
• The City commences or legally obligates itself to commence pollution remediation.
At June 30, 2013, the City identified the following sites which met one of the above obligating events:
CoLp Yard
The estimate installation costs of groundwater monitoring wells and monitoring activity is approximately
$150,000. This estimate is based on the installation of additional ground water monitoring wells and about five
years to get the site closed with the cost of$20,000 per year in testing and reporting and about $10,000 a year in
staff time. This estimate is subject to the test result or changes in applicable laws or regulations. The intent is to
monitor for natural attenuation, however, the City believes that after another round of monitoring, the site will be
closed.
89
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 13—Pollution Remediation Obligations (Continued)
The City secured a pollution and remediation legal liability insurance to cover pollution and remediation legal liability,
legal defense expense and contingent transportation coverage in the amount of $10,000,000 per occurrence up to
$50,000,000 in aggregate liability with a self-insured retention amount of$100,000 per occurrence. At June 30, 2013,
the City recorded pollution remediation obligations in the amount of$150,000 on the Government-Wide Statement of
Net Position and allocated the total amount to General Government on the Government-Wide Statement of Activities
and Changes in Net Position.
The pollution remediation costs for Corp Yard are not covered by this insurance, however, the City will be covered
should there be claims against the City by third parties.
Note 14—Commitments and Contingencies
Litigation
The City is presently involved in certain matters of litigation that have risen in the normal course of conducting City
business. City management believes,based upon consultation with the City Attorney,that these cases, in the aggregate,
are not expected to result in a material adverse financial impact on the City. Additionally, City management believes
that the City's insurance programs are sufficient to cover any potential losses should an unfavorable outcome
materialize.
Grants
The City participates in a number of federally assisted grant programs, including those from the U.S. Department of
Housing and Urban Development, U.S. Department of Justice, U.S. Department of Treasury, U.S. Department of
Transportation, and the U.S. Department of Education. Receipts from these grant programs are subject to audit to
determine if the monies were expended in accordance with appropriate statues, grant terms and regulations. The City
believes no significant liabilities will result on this audit.
City Loan to Successor Agency
The General Fund has loaned a cumulative amount of $9,002,419 including interest to the Successor Agency for
unreimbursed services rendered by City staff. It is anticipated that the Agency will repay this loan from
Redevelopment Property Tax Trust Fund distributions. Currently, Redevelopment Property Tax Trust Fund
distributions are used to pay for related debt service expenditures and possible future debt issuance. As a result, the
Successor Agency is uncertain if the amount will be repaid to the City's General Fund. Accordingly, this contingent
payable has not been reported in accompanying basic financial statements. The Agency will record the contingent
payable when payment is assured.
Successor Agency—Long Range Property Management Plan
The City, acting as the Successor Agency to the Chula Vista Redevelopment Agency,prepared a Long Range Property
Management Plan(LRPMP) in compliance with AB 1484. The Successor Agency Oversight Board reviewed and
approved the LRPMP on July 8, 2013 and submitted it to the California Department of Finance for review on July 10,
2013. The Department of Finance has not yet issued a determination letter regarding the LRPMP.
90
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 15—Utility Tax Settlement
This is a class action civil case. The case was filed as a tax refund action. The tax at issue is the City's Telephone
Users Tax ("TUT"). Plaintiffs allege that the City has been improperly taxing cell phone use in violation of its own
TUT ordinance. That 1970 ordinance states, among other things, that "mobile and marine telephone service" charges
are excluded from the tax. The TUT ordinance also ties itself to the scope of the Federal Excise Tax, which has
undergone substantial limitations as a result of reported federal case law.
The proposed class was certified by court order as: "All persons, including individuals, non-corporate entities, and
corporations, whenever organized and existing, who have paid the Chula Vista Telephone Users Tax imposed by
Chula Vista Municipal Code §3.44.030 on mobile phone services or who have paid the Telephone Users Tax on
telephone services which are not taxable under section 4251 of the Internal Revenue Code."
The amount of refund indicated in the preliminary settlement agreement between wireless phone users and the City of
Chula Vista dated April 4, 2013 includes $8 million being made available for funding for rebates and refunds of the
City's TUT and payment of litigation expenses and attorney's fees.
The settlement makes cash rebates available to Chula Vista wireless phone users who paid taxes on their wireless
phone bills from April 2010 through April 2013. Once the court has finally approved the settlement, the tax rate will
be reduced from 5%to 4.75%.
Note 16—Prior Period Adjustment
A prior period adjustment was recorded to reduce Sales Tax in lieu revenue accrual from FY 2006 due to errors the
States calculation of the Sales Tax in lieu relating to the California Budget Act of 2006 for City of Chula Vista's
General Fund. Accordingly, governmental activities' net position and general fund's fund balances at July 1, 2012
were restated as follows:
Government-Wide Financial Statements
Governmental
Activities
Beginning Net Position,as previously reported $ 76717331036
Prior period adjustment (31350,981)
Beginning Net Position,as restated $ 76413821055
Fund Financial Statements
General
Fund
Beginning Fund Balance,as previously reported $ 2810391058
Prior period adjustment (31350,981)
Beginning Fund Balance,as restated $ 2416881077
91
City of Chula Vista
Notes to Basic Financial Statements (Continued)
For the year ended June 30, 2013
Note 17-Classification of Fund Balances
Major Funds
Sundry Grants RDA City Park Acquisition Nonmajor
General Special Revenue Special Revenue Debt Service Development Development Governmental
Fund Fund Fund Fund Impact Fund Fund Funds Total
Nonspendable
Prepaid items $ 104,344 $ 10,000 $ - $ - $ - $ - $ - $ 114,344
Loans receivable 7,376,735 3,040,919 5,628,977 - 10,535,338 9,940,000 619,238 37,141,207
Total nonspendable 7,481,079 3,050,919 5,628,977 - 10,535,338 9,940,000 619,238 37,255,551
Restricted
San Diego Authority for Freeway Emergenc: 750,951 - - - - - - 750,951
SLESF-law enforcement - 194,083 - - - - - 194,083
Police grants - 163,920 - - - - - 163,920
Asset forfeiture-drug enforcement and
education - 307,596 - - - - - 307,596
Library services grant - 190,079 - - - - - 190,079
Park and recreation grants - 14,023 - - - - - 14,023
SD Neighboorhood Reinvestment Program - 230,437 - - - - - 230,437
Federal grants - (27,692) - - - - - (27,692)
State grants - (9,296) - - - - - (9,296)
ARRA grants - 272,421 - - - - - 272,421
environ.grants - 1,338,976 - - - - - 1,338,976
Community and housing development - (584,513) 2,286,724 - - - 1,269,767 2,971,978
Public facilities - - - - 10,712,381 - - 10,712,381
Otay Ranch Village ramp and bridge - - - - 3,562,574 - - 3,562,574
Transportation improvements - - - - 14,068,601 - 2,716,484 16,785,085
Telegraph Canyon drainage - - - - 6,067,613 - - 6,067,613
Park acquisitions and development - - - - - 26,292,857 - 26,292,857
Parking meter services - - - - - - 949,466 949,466
Traffic signal and safety - - - - - - 1,955,212 1,955,212
Storm drain - - - - - - 252,043 252,043
Open space maintenance - - - - - - 16,452,491 16,452,492
Assessment districts improvement - - - - - - 2,476,094 2,476,093
Total restricted 750,951 2,090,034 2,286,724 - 34,411,169 26,292,857 26,071,557 91,903,292
Committed
Ecomonic contingency 2,298,088 - - - - - 138,023 2,436,111
Debt service - - - - - - 10,479,668 10,479,668
Total committed 2,298,088 - - - - - 10,617,691 12,915,779
Assigned
City Council 43,772 - - - - - - 43,772
City Clerk 25,351 - - - - - - 25,351
City Attorney 135,354 - - - - - - 135,354
City Administration 19,295 - - - - - - 19,295
Information Technology Services Departmei 25,599 - - - - - - 25,599
Finance Department 10,633 - - - - - - 10,633
Non-Departmental 863,431 - - - - - - 863,431
Animal Care Services Department 25,000 - - - - - - 25,000
Planning&Bulding Services 215,766 - - - - - - 215,766
Police Department 730,652 - - - - - - 730,652
Fire Department 250,987 - - - - - - 250,987
Public Works Department 2,175,482 - - - - - - 2,175,482
Recreation Department 106,990 - - - - - - 106,990
Library 66,112 - - - - - - 66,112
Fire Equipment Lease Fund 24,065 - - - - - - 24,065
Public liability 1,930,433 - - - - - - 1,930,433
Total assigned 6,648,922 - - - - - - 6,648,922
Unassigned 10,790,135 - - (36,973,149) - - (304,349) (26,487,363)
Total fund balances $ 27,969,175 $ 5,140,953 $ 7,915,701 $ (36,973,149) $ 44,946,507 $ 36,232,857 $ 37,004,137 $ 122,236,181
92
REQUIRED SUPPLEMENTARY
INFORMATION
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CITY C)F
CHULAVISTA
94
City of Chula Vista
Required Supplementary Information
For the year ended June 30, 2013
1. BUDGETARY INFORMATION
An annual budget is adopted by the City Council prior to the first day of the fiscal year. The budget process includes
submittal of each department's budget request for the next fiscal year, a detailed review of each department's proposed
budget by the City Manager, and a final City Manager recommended budget transmitted to the City Council for its
review before the required date of adoption. Once transmitted to the City Council, the proposed budget is made
available for public inspection. A public hearing is held to give the public the opportunity to comment upon the
proposed budget. Notice of such public hearing is published in a newspaper of general circulation.
The adoption of the budget is accomplished by the approval of a Budget Resolution. The legal level of budgetary
control is at the department/category level. Any budget modification, which would result in an appropriation increase,
requires City Council approval. The City Manager is authorized to transfer appropriations up to $15,000 within a
departmental budget. Any appropriation transfers between departments or greater than $15,000 require City Council
approval.
Reported budget figures are as originally adopted or subsequently amended plus prior year continuing appropriations.
Such budget amendments during the year, including those related to supplemental appropriations, did not cause these
reported budget amounts to be significantly different than the originally adopted budget amounts. All appropriations
which are not obligated, encumbered or expended at the end of the fiscal year lapse and become a part of the
unreserved fund balance which may be appropriated for the next fiscal year.
An annual budget for the year ended June 30, 2013, was adopted and approved by the City Council for the general,
special revenue and debt service funds except for the Developer's Deposit Special Revenue fund, which is used to
account for various developer deposit for development projects and is used to fund staff costs and other costs related to
specific projects, and Public & Educational Government Fees Special Revenue fund, which is used to account for the
1% PEG fees. These budgets are prepared on the modified accrual basis of accounting. The budgets of the capital
projects funds are primarily long-term budgets, which emphasize major programs and capital outlay plans extending
over a number of years. Because of the long-term nature of these projects, annual budget comparisons are not
considered meaningful, and accordingly, no budgetary information for capital projects funds is included in the
accompanying basic financial statements.
95
City of Chula Vista
Required Supplementary Information (Continued)
For the year ended June 30, 2013
1. BUDGETARY INFORMATION(Continued)
Budget Comparison Schedule, General Fund
Budgeted Amounts Actual Variance with
Original Final Amounts Final Budget
REVENUES:
Taxes 8410321418 8410321418 $ 7518411123 $ (81191,295)
Intergovernmental 115391171 216631127 1915421065 1618781938
Licenses and permits 8251630 110151630 113951519 3791889
Charges for services 617121128 713341984 813571509 110221525
Fines and forfeitures 211991885 211991885 110021946 (11196,939)
Use of money and property 212341999 212851498 212011490 (84,008)
Other 1318411680 1416511506 1310231676 (11627,830)
Total revenues 111,385,911 11411831048 12113641328 711811280
EXPENDITURES:
Current:
General government:
City council 113011464 113991375 111981390 2001985
Boards and Commissions 101076 101076 71210 21866
City clerks 8381722 9181722 7751149 1431573
City attorney 214521390 215341696 214751240 591456
Administration 118491012 210161602 119731150 431452
Management and information 219121845 219251647 218971505 281142
Human resources 317911885 317451198 313781580 3661618
Finance 312651377 312651377 312521688 121689
Non-Departmental 111681977 319421209 412591534 (317,325)
Planning and building 217701245 218721771 215241833 3471938
Total general government 2013601993 2316301673 2217421279 8881394
Public safety:
Police 4319631270 4319191881 4214801862 114391019
Fire 2217951614 2411961731 2318781548 3181183
Total public safety 6617581884 6811161612 6613591410 117571202
Public works:
Engineering 2211291226 2211601336 2210701269 901067
General services 410781629 319381800 319441149 (51349)
Total public works 2612071855 2610991136 2610141418 841718
Parks and recreation 315811151 316731267 313621558 3101709
Library 312021657 312621210 311821483 791727
Capital outlay 110651486 310851946 111721734 119131212
Total expenditures 12111771026 12718671844 12218331882 510331962
REVENUES OVER
(UNDER)EXPENDITURES (91791,115) (13,684,796) (11469,554) 1212151242
Other Financing Sources(Uses)
Transfers in 1016141758 1119081758 916611447 (21247,311)
Transfers out 410721250 419321555 (41910,795) (91843,350)
Total other financing sources(uses) 1416871008 1618411313 417501652 (12,090,661)
Net change in fund balance $ 418951893 $ 311561517 312811098 $ 1241581
Fund Balance:
Beginning of year 2416881077
End of year $ 2719691175
96
City of Chula Vista
Required Supplementary Information (Continued)
For the year ended June 30, 2013
1. BUDGETARY INFORMATION(Continued)
Budget Comparison Schedule, Sunda Giants Special Revenue Fund
Budgeted Amounts Actual Variance with
Orginal Final Amounts Final Budget
REVENUES:
Intergovernmental $ 1514401519 $ 2019491448 $ 1119241928 $ (91024,520)
Charges for services 9791000 9791000 1,124,763 1451763
Use of money and property 201000 201000 371176 171176
Other 1911000 2001889 5521801 3511912
Total revenues 1616301519 2211491337 1316391668 (81509,669)
EXPENDITURES:
Current:
General government 316941537 516531840 116501945 410021895
Public safety 711781410 915371461 614121401 311251060
Public works 413871999 611901194 218671719 313221475
Parks and recreation 11200 281696 11400 271296
Library 2811270 2811270 591177 2221093
Capital outlay 216251222 1014591991 517041895 417551096
Debt Service:
Interest and fiscal charges 216251222 1014591991 123 1014591868
Total expenditures 2017931860 4216111443 1616961660 2519141783
REVENUES OVER
(UNDER)EXPENDITURES (41163,341) (20,462,106) (31056,992) 1714051114
OTHER FINANCING SOURCES(USES):
Issuance of debt - - 211741204 211741204
Transfers in 2041649 1651416 2431624 781208
Transfers out (11083,246) (11049,648) (11157,394) (107,746)
Total other financing sources(uses) (878,597) (884,232) 112601434 211441666
Net change in fund balance $ (51041,938) $ (21,346,338) (11796,558) $ 1915491780
Fund Balance:
Beginning of year 619371511
End of year $ 511401953
97
City of Chula Vista
Required Supplementary Information (Continued)
For the year ended June 30, 2013
1. BUDGETARY INFORMATION(Continued)
Budget Comparison Schedule, Low and Moderate Income Housing Successor Special Revenue Fund
Budgeted Amounts Actual Variance with
Orginal Final Amounts Final Budget
REVENUES:
Use of money and property $ 171885 $ 171885 $ 6701963 $ 6531078
Transfers from Successor Agency 118571673 118571673 2371450 (11620,223)
Other - - 901452 901452
Total revenues 118751558 118751558 9981865 (876,693)
EXPENDITURES:
Current:
General government 1621975 1621975 1111743 511232
Total expenditures 1621975 1621975 1111743 511232
REVENUES OVER
(UNDER)EXPENDITURES 117121583 117121583 8871122 (825,461)
OTHER FINANCING SOURCES(USES):
Transfers out (29,000) (29,000) (29,000) -
Total other financing sources(uses) 517421764 517421764 (29,000) (31129,461)
Net change in fund balance $ 714551347 $ 714551347 8581122 $ (61597,225)
Fund Balance:
Beginning of year 710571579
End of year $ 719151701
98
City of Chula Vista
Required Supplementary Information (Continued)
For the year ended June 30, 2013
2. SCHEDULE OF FUNDING PROGRESS
PUBLIC EMPLOYEE RETIREMENT SYSTEMS (PERS)
SCHEDULE OF FUNDING PROGRESS
Miscellaneous Employ
Unfunded
Actuarial
Entry Age Unfunded Liability as
Actuarial Actuarial Actuarial Actuarial Percentage of
Valuation Assets Accrued Accrued Funded Covered Covered
Date Value Liability Liability Ratio Payroll Payroll
6/30/2010 $ 27112751031 $ 35515191797 $ 8412441766 76.30% $ 4314981397 193.67%
6/30/2011 $ 28719431786 $ 38115821655 $ 9316381869 75.46% $ 41,109,611 227.78%
6/30/2012 $ 29916591390 $ 39519721103 $ 9613121713 75.68% $ 4113791439 232.75%
Safety Employ
Unfunded
Actuarial
Entry Age Unfunded Liability as
Actuarial Actuarial Actuarial Actuarial Percentage of
Valuation Assets Accrued Accrued Funded Covered Covered
Date Value Liability Liability Ratio Payroll Payroll
6/30/2010 $ 25516981516 $ 29517641402 $ 4010651886 86.45% $ 3412981135 116.82%
6/30/2011 $ 27317501352 $ 31918381087 $ 4610871735 85.59% $ 3410001483 135.55%
6/30/2012 $ 28912571775 $ 33713681764 $ 4811101989 85.74% $ 3310421996 145.60%
OTHER POST EMPLOYMENT BENEFITS
SCHEDULE OF FUNDING PROGRESS
Unfunded
Actuarial
Entry Age Unfunded Liability as
Actuarial Actuarial Actuarial Actuarial Percentage of
Valuation Assets Accrued Accrued Funded Covered Covered
Date Value Liability Liability Ratio Payroll Payroll
6/30/2009 $ - $ 1118851000 $ (11,885,000) 0.00% $ 6910871000 (17.20)%
6/30/2011 $ - $ 1316171000 $ (13,617,000) 0.00% $ 7316511000 (18.49)%
6/30/2013 $ - $ 1310811000 $ (13,081,000) 0.00% $ 6219231000 (20.79)%
99
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CITY C)F
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SUPPLEMENTARY INFORMATION
101
NON-MAJOR
GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS:
Transportation Grants - This fund is used to account for revenues and expenditures received from the State under the
Street and Safety Code Sections 2106, 2107 and 2107.5. The allocations must be spent for street maintenance or
construction and a limited amount for engineering.
Parking Meter -This fund is used to account for revenues from on/off street parking and issued parking citations within
the parking district. The funds derived must be expended for a purpose substationally connected with the problem of
traffic regulation and control in the parking district.
Traffic Safety - This fund is a depository for all monies derived from vehicle code Vines (excluding parking violations).
The Vines are collected through the County court system and remitted to the City monthly. These monies may be
expended only for traffic control devices and equipment and maintenance thereof or for the maintenance, improvement
or construction of public streets.
Town Centre I -This fund is used to account for revenues from an in lieu parking fee. The in lieu parking fee applies to
any developer of a new commercial building or addition to an existing commercial building within the Downtown
Parking district. Use of monies in this fund is restricted for the purchase or development of parking sites.
Developer Deposits - This fund is used to account for revenues received from various developers for development
projects and is used to fund staff costs, and other costs related to specific projects.
Open Space Districts - This fund is a depository for all monies received for all flat rate property tax assessments levied
against benefiting property owners for the maintenance of open space areas.
Housing Programs - This fund is for federal housing rehabilitation monies held in trust by Bank of America for
issuance of housing rehab loans to qualified low and moderate income recipients.
Traffic Signals- This fund accounts for fees from developers for all new traffic signal construction.
Transportation Sales Tax - This fund was established for the receipt and disbursement of all transportation sales tax
revenues for the City.
Storm Drain - This fund is a depository for all monies collected from the monthly storm drain service charge. Monies
in this fund may be used for storm drain purposes.
Housing Authority - This fund is used to account for revenues and expenditures received from Local, State and Federal
governments for the City's program in promoting balanced housing for families of all income levels.
Mobile Park Fee— This fund was established to account for the Mobilehome Park Space Rent Review Admin Fee to
reimburse the city for all staff time and other costs associated with administering the review.
Public&Educational Government (PEG) Fees— This fund was established to account for the 1%PEG fees.
102
NON-MAJOR
GOVERNMENTAL FUNDS
DEBT SERVICE FUNDS:
Public Financing Authority - This fund is used to account for financing the acquisition of bonds, notes and other
obligations of, or for the purpose of making loans to the City and/or to refinance outstanding obligations of the City.
Notes Payable - This fund is used for the payment of principal and interest on various notes payable.
Lease Payable - This fund is used to account for the City's portion of the infrastructure and financing costs of the San
Diego County regional communications systems (RCS) and lease purchase of the Fire Department's medical
resuscitation equipment.
CAPITAL PROJECTS FUNDS:
Residential Construction Tax -This fund is a depository for fees levied for the construction, replacement or conversion
of all dwelling units within the City including hotels and motels.
Highway Safety - This fund is a depository for the revenues received from State per Proposition 1B. Funds must be
spent for transportation projects to relieve congestion, improve the movement of goods, improve air quality and security
of the transportation system.
Bicycle Facility - This fund was established as a depository for local Transportation Development Act funds (Article
3.0)received from the County for the purpose of bicycle related programs.
Industrial Development Authority - This fund was established to account for staff costs in assisting in the issuance of
industrial development bonds. A fee of 1/8 of 1%is charged to reimburse costs incurred.
Assessment District Improvements - This fund was established as a depository for monies received from issuance of
bonds for various assessment districts. The monies are used to finance the construction of public works improvements
in the related districts.
Transportation Partnership - This fund is a depository for the revenues received from the State and Local
Transportation Partnership Program. Funds must be spent for street purposes.
Other Transportation Program - This fund is a depository for the revenues received from the Federal Highway Safety
Improvement Program. Funds must be spent for street, public highway bridges and other regional surface transportation
programs.
103
City of Chula Vista
Combining Balance Sheet
Non-Major Governmental Funds
June 30, 2013
Special Revenue
Transportation Parking Traffic Town Developer Open Space
Grants Meter Safety Centre I Deposits Districts
ASSETS
Cash and investments $ 3,612,035 $ 959,499 $ 5,569 $ 50,626 $ 10,914,272 $ 17,427,323
Receivables:
Accounts - 35,401 - - - -
Taxes 474,575 - - - - 39,923
Interest 4,928 1,082 92 64 - 20,077
Loans - - - - - -
Due from other funds - - - - - -
Due from other governments - - - - - -
Prepaid items - - - - - -
Restricted cash and investments:
Held by fiscal agent - - - - - -
Total assets $ 4,091,538 $ 995,982 $ 501 $ 5000 $ 10,914,272 $ 17,487,323
LIABILITIES AND
FUND BALANCES
Liabilities:
Accounts payable $ - $ 46,516 $ 6,703 $ - $ 434,840 $ 1,034,832
Accrued liabilities - - - - - -
Due to other funds - - - - - -
Retention payable 55,921 - - - - -
Developer deposits - - - - 10,479,432 -
Deferred revenue 4,319,400 - - - - -
Total liabilities 4,375,321 46,516 6,703 - 10,914,272 1,034,832
Fund Balances:
Nonspendable - - - - - -
Restricted - 949466 - 5000 - 16452491
Committed - - - - - -
Unassigned (283,783) - (1,042) - - -
Total fund balances (283,783) 949466 (1,042) 5000 - 16452491
Total liabilities and fund balances $ 4,091,538 $ 995,982 $ 501 $ 5000 $ 10,914,272 $ 17487,323
104
City of Chula Vista
Combining Balance Sheet (Continued)
Non-Major Governmental Funds
June 30, 2013
Special Revenue
Housing Traffic Transportation Housing Mobile
Programs Signals Sales Tax Storm Drain Authority Park Fees
ASSETS
Cash and investments $ 46,014 $ 1,972478 $ - $ 205415 $ 415,647 $ 34,220
Receivables:
Accounts 21,442 - - 62480 - 120
Taxes - - - 558 - -
Interest - 2,953 1,238 250 476 64
Loans 629,741 - - - 2,161,507 -
Due from other funds - - 873,063 - - -
Due from other governments 1,380 - 1,755,617 - - -
Prepaid items - - - - - -
Restricted cash and investments:
Held by fiscal agent - - - - - -
Total assets $ 698,577 $ 1,975431 $ 2,629,918 $ 268,703 $ 2,577,630 $ 34404
LIABILITIES AND
FUND BALANCES
Liabilities:
Accounts payable $ - $ 20,219 $ 302,247 $ 1600 $ 84 $ 4,770
Accrued liabilities - - - - 69,359 -
Due to other funds - - - - - -
Retention payable - - 14,309 - - -
Developer deposits - - - - - -
Deferred revenue 9803 - - - 2,161,507 -
Total liabilities 9803 20,219 316,556 1600 2,230,950 4,770
Fund Balances:
Nonspendable 619,238 - - - - -
Restricted - 1,955,212 2,313,362 252,043 34600 29,634
Committed - - - - - -
Unassigned (19,524) - - - - -
Total fund balances 599,714 1,955,212 2,313,362 252,043 34600 29,634
Total liabilities and fund balances $ 698,577 $ 1,975431 $ 2,629,918 $ 268,703 $ 2,577,630 $ 34404
(Continued)
105
City of Chula Vista
Combining Balance Sheet (Continued)
Non-Major Governmental Funds
June 30, 2013
Special Revenue Debt Service Capital Projects
Public Public Residential
Education& Financing Notes Lease Construction Highway
Govt Fee Authority Payable Payable Tax Safety
ASSETS
Cash and investments $ 464,206 $ 1,227,209 $ 5,558 $ 275,290 $ 215,222 $ 412,613
Receivables:
Accounts - - - - - -
Taxes 162,657 - - - - -
Interest 228 606 192 25 392 798
Loans - - - - - -
Due from other funds - - - - - -
Due from other governments - - - - - -
Prepaid items - 800 - - - -
Restricted cash and investments:
Held by fiscal agent - 9,324,614 - - - -
Total assets $ 627,091 $ 10,553,229 $ 5,750 $ 275,315 $ 215,614 $ 413,411
LIABILITIES AND
FUND BALANCES
Liabilities:
Accounts payable $ - $ (114,899) $ - $ - $ - $ 301
Accrued liabilities - - - - - -
Due to other funds - 331,502 - - - -
Retention payable - - - - - -
Developer deposits - - - - - -
Deferred revenue - - - - - 42,776
Total liabilities - 21603 - - - 43,077
Fund Balances:
Nonspendable - - - - - -
Restricted 627,091 - - - 215,614 370,334
Committed - 10,336,626 5,750 275,315 - -
Unassigned - - - - - -
Total fund balances 627,091 10,336,626 5,750 275,315 215,614 370,334
Total liabilities and fund balances $ 627,091 $ 10,553,229 $ 5,750 $ 275,315 $ 215,614 $ 413,411
(Continued)
106
City of Chula Vista
Combining Balance Sheet (Continued)
Non-Major Governmental Funds
June 30, 2013
Capital Projects
Total
Industrial Assessment Other Other
Bicycle Development District Transportation Transportation Governmental
Facility Authority Improvements Partnership Program Funds
ASSETS
Cash and investments $ - $ 50 $ 2480,952 $ 28,728 $ - $ 40,752,926
Receivables:
Accounts - - - - - 119443
Taxes - - - - - 677,713
Interest - 8 2,907 36 - 36416
Loans - - - - - 2,791,248
Due from other funds - - - - - 873,063
Due from other governments - - - - 1,470434 3,227431
Prepaid items - - - - - 800
Restricted cash and investments:
Held by fiscal agent - - - - - 9,324,614
Total assets $ - $ 58 $ 2483,859 $ 28,764 $ 1470434 $ 5703,654
LIABILITIES AND
FUND BALANCES
Liabilities:
Accounts payable $ - $ - $ 7,765 $ - $ 195481 $ 1,955,519
Accrued liabilities - - - - - 69,359
Due to other funds - - - - 1,264,494 1,595,996
Retention payable - - - - 6435 7605
Developer deposits - - - - - 10479432
Deferred revenue - - - - - 6,622,546
Total liabilities - - 7,765 - 1466410 20,799,517
Fund Balances:
Nonspendable - - - - - 619,238
Restricted - 58 2476,094 28,764 4,024 26,071,557
Committed - - - - - 101701
Unassigned - - - - - (304,349)
Total fund balances - 58 2476,094 28,764 4,024 3704,137
Total liabilities and fund balances $ - $ 58 $ 2483,859 $ 28,764 $ 1470434 $ 5703,654
(Concluded)
107
City of Chula Vista
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Non-Major Governmental Funds
For the year ended June 30, 2013
Special Revenue
Transportation Parking Traffic Town Developer Open Space
Grants Meter Safety Centre I Deposits Districts
REVENUES:
Taxes $ - $ - $ -
Intergovernmental 50602 - - - - -
Licenses and permits - 42,489 - - - -
Developer fees - - - - 7,720,821 -
Charges for services - - - - - 12,142,260
Fines and forfeitures - 20902 426,373 - - -
Use of money and property (18,810) 349,730 (613) (266) 17,745 (82,226)
Transfers from Successor agency - - - - - -
Other 3,678 - - - - -
Total revenues 5,651,470 60201 425,760 (266) 7,738,566 12,060,034
EXPENDITURES:
Current:
General government - - - - - -
Public safety - 361,557 37,227 - - -
Public works - - - - 7,738,566 11,355,550
Parks and recreation - - - - - -
Capital outlay 1,827,174 2,125 - - - -
Debt Service:
Principal - - - - - -
Interest and fiscal charges - - - - - -
Total expenditures 1,827,174 36302 37,227 - 7,738,566 11,355,550
REVENUES OVER
(UNDER)EXPENDITURES 3,824,296 238,399 388,533 (266) - 704484
OTHER FINANCING SOURCES(USES):
Transfers in - - - - - -
Transfers out (4,439,428) - (492,669) - - -
Total other financing sources(uses) (4,439,428) - (492,669) - - -
NET CHANGE IN FUND BALANCES (615,132) 238,399 (104,136) (266) - 704484
FUND BALANCES:
Beginning of year 331,349 711,067 103,094 50,956 - 15,74807
End of year $ (283,783) $ 949466 $ (1,042) $ 5000 $ - $ 16452491
108
City of Chula Vista
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued)
Non-Major Governmental Funds
For the year ended June 30, 2013
Special Revenue
Housing Traffic Transportation Housing Mobile
Programs Signals Sales Tax Storm Drain Authority Park Fees
REVENUES:
Taxes $ - $ - $ 6,196,036 $ -
Intergovernmental 1203 - 1,582,504 - - -
Licenses and permits - - - (1,180) - -
Developer fees - - - - - -
Charges for services 68 240,397 - 58707 230,513 129,650
Fines and forfeitures - - - 600 - -
Use of money and property 1,560 (13,937) (4,140) (961) (5,868) (191)
Transfers from Successor agency - - - - - -
Other 37,635 24,945 2,068 - 456,505 -
Total revenues 51,346 251,405 7,776468 586,346 681,150 129459
EXPENDITURES:
Current:
General government 24,878 - - - 773492 -
Public safety - - - - - -
Public works - 1,962 - 247,835 - -
Parks and recreation - - - - - 99,825
Capital outlay - 946457 6,54503 - - -
Debt Service:
Principal - - - - - -
Interest and fiscal charges 555 - - - - -
Total expenditures 25433 948419 6,54503 247,835 773492 99,825
REVENUES OVER
(UNDER)EXPENDITURES 25,913 (697,014) 1,23005 338,511 (92,342) 29,634
OTHER FINANCING SOURCES(USES):
Transfers in - - - - 9700 -
Transfers out - - (79,224) (340,463) (166,085) -
Total other financing sources(uses) - - (79,224) (340,463) (69,085) -
NET CHANGE IN FUND BALANCES 25,913 (697,014) 1,151,581 (1,952) (161,427) 29,634
FUND BALANCES:
Beginning of year 57301 2,652,226 1,161,781 253,995 508,107 -
End of year $ 599,714 $ 1,955,212 $ 2,313,362 $ 252,043 $ 34600 $ 29,634
(Continued)
109
City of Chula Vista
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued)
Non-Major Governmental Funds
For the year ended June 30, 2013
Special Revenue Debt Service Capital Projects
Public Public Residential
Education& Financing Notes Lease Construction Highway
Govt Fee Authority Payable Payable Tax Safety
REVENUES:
Taxes $ - $ - $ - $ - $ 413,552 $ -
Intergovernmental - - 1,149 - - 130,753
Licenses and permits - - - - - -
Developer fees - - - - - -
Charges for services 627,766 - - - - -
Fines and forfeitures - - - - -Use of money and property (675) 27608 (591) (88) (2,279) (4,512)
Transfers from Successor agency - 1,870 - - - -
Other - - - - - -
Total revenues 627,091 278,538 558 (88) 411,273 126,241
EXPENDITURES:
Current:
General government - 7,738 - - - -
Public safety - 7,317 - - - -
Public works - - - - - -
Parks and recreation - - - - - -
Capital outlay - - - - - 126,240
Debt Service:
Principal - 3,91500 793,638 405,354 - -
Interest and fiscal charges - 6,199,463 584,754 33,893 - -
Total expenditures - 10,129,518 1,378,392 439,247 - 126,240
REVENUES OVER
(UNDER)EXPENDITURES 627,091 (9,850,980) (1,377,834) (439,335) 411,273 1
OTHER FINANCING SOURCES(USES):
Transfers in - 7,767,272 1,09907 714,247 10001 -
Transfers out - - - - (677,319) -
Total other financing sources(uses) - 7,767,272 1,09907 714,247 (577,318) -
NET CHANGE IN FUND BALANCES 627,091 (2,083,708) (277,967) 274,912 (166,045) 1
FUND BALANCES:
Beginning of year - 12420,334 283,717 403 381,659 370,333
End of year $ 627,091 $ 10,336,626 $ 5,750 $ 275,315 $ 215,614 $ 370,334
(Continued)
110
City of Chula Vista
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued)
Non-Major Governmental Funds
For the year ended June 30, 2013
Capital Projects
Total
Industrial Assessment Other Other
Bicycle Development District Transportation Transportation Governmental
Facility Authority Improvements Partnership Program Funds
REVENUES:
Taxes $ - $ - $ - $ - $ - $ 609,588
Intergovernmental (72,230) - - - 2,166,127 9,486,988
Licenses and permits - - - - - 41,309
Developer fees - - - - - 7,720,821
Charges for services - - - - - 13,958,541
Fines and forfeitures - - - - - 636,835
Use of money and property - (46) (12,226) (150) - 498,124
Transfers from Successor agency - - - - - 1,870
Other - - 18,836 - - 54307
Total revenues (72,230) (46) 6,610 (150) 2,166,127 39,497,743
EXPENDITURES:
Current:
General government - - - - - 806,108
Public safety - - - - - 406,101
Public works 708 - - - - 19,351,521
Parks and recreation - - 7,765 - - 107,590
Capital outlay - - - - 2,166,127 11,613,786
Debt Service:
Principal - - - - - 5,113,992
Interest and fiscal charges - - - - - 6,81805
Total expenditures 708 - 7,765 - 2,166,127 44,217,763
REVENUES OVER
(UNDER)EXPENDITURES (79,838) (46) (1,155) (150) - (4,720,020)
OTHER FINANCING SOURCES(USES):
Transfers in 79,838 - - - - 9,858,225
Transfers out - (10,622) (27,538) - - (6,233,348)
Total other financing sources(uses) 79,838 (10,622) (27,538) - - 3,624,877
NET CHANGE IN FUND BALANCES - (10,668) (28,693) (150) - (1,095,143)
FUND BALANCES:
Beginning of year - 10,726 2,504,787 28,914 4,024 38,099,280
End of year $ - $ 58 $ 2,476,094 $ 28,764 $ 4,024 $ 3704,137
(Concluded)
111
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Transportation Grants Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Intergovernmental $ 611581439 $ 516661602 $ (491,837)
Use of money and property - (18,810) (18,810)
Other - 31678 31678
Total revenues 611581439 516511470 (506,969)
Expenditures:
Capital outlay 514891006 118271174 316611832
Total expenditures 514891006 118271174 316611832
REVENUES OVER
(UNDER)EXPENDITURES 6691433 318241296 311541863
Other Financing Sources(Uses):
Transfers out (41439,428) (41439,428) -
Total other financing sources(uses) (41439,428) (41439,428) -
Net change in fund balance $ (31769,995) (615,132) $ 311541863
Fund Balance:
Beginning of year 3311349
End of year $ (283,783)
112
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Parking Meter Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Licenses and permits $ 241000 $ 421489 $ 181489
Fines and forfeitures 2001000 2091862 91862
Use of money and property 3761000 3491730 (26,270)
Total revenues 6001000 6021081 21081
Expenditures:
Current:
Public safety 4351775 3611557 741218
Capital outlay 5171839 21125 5151714
Total expenditures 9531614 3631682 5891932
REVENUES OVER
(UNDER)EXPENDITURES (353,614) 2381399 5921013
Net change in fund balance $ (353,614) 2381399 $ 5921013
Fund Balance:
Beginning of year 7111067
End of year $ 9491466
113
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Traffic Safety Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Fines and forfeitures $ 4881640 $ 4261373 $ (62,267)
Use of money and property - (613) (613)
Total revenues 4881640 4251760 (62,880)
Expenditures:
Current:
Public safety 381500 371227 11273
Total expenditures 381500 371227 11273
REVENUES OVER
(UNDER) EXPENDITURES 4501140 3881533 (61,607)
Other Financing Sources (Uses):
Transfers out (534,140) (492,669) 411471
Total other financing sources(uses) (534,140) (492,669) 411471
Net change in fund balance $ (84,000) (104,136) $ (20,136)
Fund Balance:
Beginning of year 1031094
End of year $ (11042)
114
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Town Centre I Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Use of money and property $ - $ (266) $ (266)
Total revenues - (266) (266)
Expenditures:
Capital outlay 101433 - 101433
Total expenditures 101433 - 101433
REVENUES OVER
(UNDER)EXPENDITURES (10,433) (266) 10,167
Net change in fund balance $ (10,433) (266) $ 101167
Fund Balance:
Beginning of year 501956
End of year $ 501690
115
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Open Space Districts Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Charges for services $ 1210141967 $ 1211421260 $ 1271293
Use of money and property - (82,226) (82,226)
Total revenues 1210141967 1210601034 451067
Expenditures:
Current:
Public works 1211441805 1113551550 7891255
Total expenditures 1211441805 1113551550 7891255
REVENUES OVER
(UNDER)EXPENDITURES (129,838) 7041484 8341322
Net change in fund balance $ (129,838) 7041484 $ 8341322
Fund Balance:
Beginning of year 1517481007
End of year $ 1614521491
116
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Housing Programs Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Intergovernmental $ 2441000 $ 121083 $ (231,917)
Charges for services - 68 68
Use of money and property - 11560 11560
Other - 371635 371635
Total revenues 2441000 511346 (192,654)
Expenditures:
Current:
General government 2641570 241878 2391692
Debt service:
Interest and fiscal charges - 555 (555)
Total expenditures 2641570 251433 2391137
REVENUES OVER
(UNDER)EXPENDITURES (20,570) 251913 461483
Net change in fund balance $ (20,570) 251913 $ 461483
Fund Balance:
Beginning of year 5731801
End of year $ 5991714
117
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Traffic Signals Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Charges for services $ 1751000 $ 2401397 $ 651397
Use of money and property - (13,937) (13,937)
Other - 241945 241945
Total revenues 1751000 2511405 761405
Expenditures:
Current:
Public works 151000 11962 131038
Capital outlay 119331158 9461457 9861701
Total expenditures 119481158 9481419 9991739
REVENUES OVER
(UNDER)EXPENDITURES (11773,158) (697,014) 110761144
Net change in fund balance $ (11773,158) (697,014) $ 110761144
Fund Balance:
Beginning of year 216521226
End of year $ 119551212
118
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Transportation Sales Tax Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Taxes $ 513101873 $ 611961036 $ 8851163
Intergovernmental - 115821504 115821504
Use of money and property - (41140) (41140)
Other - 21068 21068
Total revenues 513101873 717761468 214651595
Expenditures:
Capital outlay 1416871547 615451663 811411884
Total expenditures 1416871547 615451663 811411884
REVENUES OVER
(UNDER)EXPENDITURES (91376,674) 112301805 1016071479
Other Financing Sources(Uses):
Transfers out (79,224) (79,224) -
Total other financing sources(uses) (79,224) (79,224) -
Net change in fund balance $ (91455,898) 1,151,581 $ 1016071479
Fund Balance:
Beginning of year 1,161,781
End of year $ 2,313,362
119
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Storm Drain Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Licenses and permits $ 321000 $ (11180) $ (33,180)
Charges for services 5491361 5871887 381526
Fines and forfeitures 51000 600 (41400)
Use of money and property - (961) (961)
Total revenues 5861361 5861346 (15)
Expenditures:
Current:
Public works 2931980 2471835 461145
Total expenditures 2931980 2471835 461145
REVENUES OVER
(UNDER)EXPENDITURES 2921381 3381511 461130
Other Financing Sources(Uses):
Transfers out (340,463) (340,463) -
Total other financing sources(uses) (340,463) (340,463) -
Net change in fund balance $ (48,082) (11952) $ 461130
Fund Balance:
Beginning of year 2531995
End of year $ 2521043
120
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Housing Authority Special Revenue Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Charges for services $ 711000 $ 2301513 $ 1591513
Use of money and property - (51868) (51868)
Other 5071101 4561505 (50,596)
Total revenues 5781101 6811150 1031049
Expenditures:
Current:
General government 8361780 7731492 631288
Total expenditures 8361780 7731492 631288
REVENUES OVER
(UNDER)EXPENDITURES (258,679) (92,342) 1661337
Other Financing Sources(Uses):
Transfers in 971000 971000 -
Transfers out (166,085) (166,085) -
Total other financing sources(uses) (69,085) (69,085) -
Net change in fund balance $ (327,764) (161,427) $ 1661337
Fund Balance:
Beginning of year 5081107
End of year $ 3461680
121
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Mobilehome Admin Fee Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Charges for services $ 1201071 $ 1291650 $ 91579
Use of money and property - (191) (191)
Total revenues 1201071 1291459 91388
Expenditures:
Current:
General government 1201071 991825 201246
Total expenditures 1201071 991825 201246
REVENUES OVER
(UNDER)EXPENDITURES - 291634 291634
Net change in fund balance $ - 291634 $ 291634
Fund Balance:
Beginning of period -
End of period $ 291634
122
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Public Financing Authority Debt Service Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Use of money and property $ - $ 2761668 $ 2761668
Transfers from Successor Agency - 11870 11870
Total revenues - 2781538 2781538
Expenditures:
Current:
General government 121000 71738 41262
Public safety 91500 71317 21183
Debt service:
Principal 319151000 319151000 -
Interest and fiscal charges 611921416 611991463 (71047)
Total expenditures 1011281916 1011291518 (602)
REVENUES OVER
(UNDER)EXPENDITURES (10,128,916) (91850,980) 2771936
Other Financing Sources(Uses):
Transfers in 818711713 717671272 111041441
Total other financing sources(uses) 818711713 717671272 111041441
Net change in fund balance $ (11257,203) (21083,708) $ (826,505)
Fund Balance:
Beginning of year 1214201334
End of year $ 1013361626
123
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Notes Payable Debt Service Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Intergovernmental $ - $ 11149 $ 11149
Use of money and property - (591) (591)
Total revenues - 558 558
Expenditures:
Debt service:
Principal - 7931638 (793,638)
Interest and fiscal charges - 5841754 (584,754)
Total expenditures - 113781392 (11378,392)
REVENUES OVER
(UNDER)EXPENDITURES - (11377,834) (11377,834)
Other Financing Sources(Uses):
Transfers in 111941476 110991867 (94,609)
Total other financing sources(uses) 111941476 110991867 (94,609)
Net change in fund balance $ 111941476 (277,967) $ (11472,443)
Fund Balance:
Beginning of year 2831717
End of year $ 51750
124
City of Chula Vista
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Lease Payable Debt Service Fund
For the year ended June 30, 2013
Final Actual Variance with
Budget Amounts Final Budget
Revenues:
Use of money and property $ - $ (88) $ (88)
Total revenues - (88) (88)
Expenditures:
Debt service:
Principal - 4051354 (405,354)
Interest and fiscal charges - 331893 (33,893)
Total expenditures - 4391247 (439,247)
REVENUES OVER
(UNDER)EXPENDITURES - (439,335) (439,335)
Other Financing Sources(Uses):
Transfers in - 7141247 7141247
Total other financing sources(uses) - 7141247 7141247
Net change in fund balance $ - 2741912 $ 2741912
Fund Balance:
Beginning of year 403
End of year $ 2751315
125
OW
CITY C)F
CHULAVISTA
126
NON-MAJOR
ENTERPRISE FUNDS
projects.
Bayfront Trolley Station Fund - This fund is used to account for the maintenance and development of the
Bayfront Trolley Station.
Sewer DIFS Fund- This fund is a depository for a portion of the revenue derived from the monthly sewer service
charge. Monies in this fund shall be used solely for the purpose of refurbishment and/or replacement of sewerage
facilities including related evaluation, engineering and utility modification costs.
Development Services Fund - This fund is a depository for a portion of the developer fees and other development
related activities.
127
City of Chula Vista
Combining Statement of Net Position
Non-Major Enterprise Funds
June 30, 2013
Bayfront
Transit Trolley Sewer Development
Fund Station Fund DIFS Fund Services Fund Total
ASSETS
Current assets:
Cash and investments $ 110481550 $ 121746 $ 911261931 $ 6031365 $ 1017911592
Receivables:
Accounts 41749 - - 291 1405 2961154
Other 962 - 111588 - 121550
Prepaid items - - - 711588 711588
Total current assets 110541261 121746 911381519 9661358 11,171,884
Noncurrent assets:
Capital assets,net 8051281 - 211011387 - 219061668
Total noncurrent assets 8051281 - 211011387 - 219061668
Total assets 118591542 121746 1112391906 9661358 1410781552
LIABILITIES
Current liabilities:
Accounts payable 51558 31298 - 771781 861637
Accrued liabilities 61603 - - (42,033) (35,430)
Unearned revenues 8671690 91448 - - 8771138
Total current liabilities 8791851 121746 - 351748 9281345
Noncurrent liabilities:
Advances from other funds - - 411651299 - 411651299
Compensated absences 211911 - - 3271178 3491089
Total noncurrent liabilities 211911 - 411651299 3271178 415141388
Total liabilities 9011762 121746 411651299 3621926 514421733
NET POSITION
Net investment in capital assets 8051281 - 211011387 - 219061668
Unrestricted 1521499 - 419731220 6031432 517291151
Total net position $ 9571780 $ - $ 710741607 $ 6031432 $ 816351819
128
City of Chula Vista
Combining Statement of Revenues, Expenses, and Changes in Net Position
Non-Major Enterprise Funds
For the year ended June 30, 2013
Bayfront
Transit Trolley Sewer Development
Fund Station Fund DIFS Fund Services Fund Total
OPERATING REVENUES:
Charges for services $ 218411619 $ - $ 6451015 $ 616541261 $ 1011401895
Other 2991219 - - 70 2991289
Total operating revenues 311401838 - 6451015 616541331 1014401184
OPERATING EXPENSES:
Operations and administration 613601871 921843 - 517171312 1211711026
Depreciation 6361617 - 601000 - 6961617
Total operating expenses 619971488 921843 601000 517171312 1218671643
Operating income(loss) (31856,650) (92,843) 5851015 9371019 (21427,459)
NONOPERATING REVENUES:
Intergovernmental 310021783 921843 - - 310951626
Interest income (41223) - (48,616) - (52,839)
Interest expense - - (62,927) - (62,927)
Gain(loss)on disposal of capital assets 41749 - - - 41749
Total nonoperating revenues 310031309 921843 (111,543) - 219841609
Income(loss)before transfers (853,341) - 4731472 9371019 5571150
TRANSFERS:
Transfers in - - - 4391238 4391238
Transfers out (34,750) - (250,000) (11175,724) (11460,474)
Total transfers (34,750) - (250,000) (736,486) (11021,236)
Net increase(decrease)in net position (888,091) - 2231472 2001533 (464,086)
NET POSITION:
Beginning of year 118451871 - 618511135 4021899 910991905
End of year $ 9571780 $ - $ 710741607 $ 6031432 $ 816351819
129
City of Chula Vista
Combining Statement of Cash Flows
Non-Major Enterprise Funds
For the year ended June 30, 2013
Bayfront
Transit Trolley Sewer Development
Fund Station Fund DIFS Fund Services Fund Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from customers $ 316351923 $ 91448 $ 6471818 $ 616921524 $ 1019851713
Cash received from other funds - - 1 - 1
Cash payments to suppliers and employees for goods and services (61355,062) (90,634) - (51762,229) (12,207,925)
Other operating revenues 2991219 - - 3271248 6261467
Net cash provided(used)by operating activities (21419,920) (81,186) 6471819 112571543 (595,744)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING
ACTIVITIES:
Proceeds received from disposal of capital assets 41749 - - - 41749
Net cash provided by capital and related financing
activities 41749 - - - 41749
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Intergovernmental 310021783 921843 - - 310951626
Transfer in - - - 4391238 4391238
Transfers(out) (34,750) - (250,000) (11175,724) (11460,474)
Net cash provided(used)by noncapital financing
activities 219681033 921843 (250,000) (736,486) 210741390
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest revenue (31005) - (48,616) - (51,621)
Net cash(used)by investing activities (31005) - (48,616) - (51,621)
Net increase in cash and cash equivalents 5491857 111657 3491203 5211057 114311774
CASH AND CASH EQUIVALENT:
Beginning of year 4981693 11089 817771728 821308 913591818
End of year $ 110481550 $ 121746 $ 911261931 $ 6031365 $ 1017911592
RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED(USED)BY OPERATING ACTIVITIES:
Operating income(loss) $ (31856,650) $ (92,843) $ 585,015 $ 9371019 $ (21427,459)
Adjustments to reconcile operating loss to
net cash provided(used)by operating activities:
Depreciation 6361617 - 601000 - 6961617
Changes in operating assets and liabilities:
Accounts receivable (31688) - - 381263 341575
Prepaid items - - - (71,588) (71,588)
Other receivable 671302 - 21803 - 701105
Accounts payable (11657) 21209 - 681704 691256
Accrued liabilities 61603 - - (42,033) (35,430)
Unearned revenue 7301690 91448 - - 7401138
Compensated absences 863 - - 3271178 3281041
Total adjustments 114361730 111657 621804 3201524 118311715
Net cash provided(used)by operating activities $ (21419,920) $ (81,186) $ 647,819 $ 11257,543 $ (595,744)
130
Internal Service Funds
Internal Service Funds are used to finance and account for special activities and services performed by a designated
City department for other departments on a cost reimbursement basis.
Fleet Management - This fund was established to account for vehicle and equipment services provided to City
departments. Revenue accruing to this fund comes from charges to City departments benefiting from services
provided.
r3n if
Technology Replacement - This fund was established to account for computer and other technology services
provided to city departments. Revenue accruing to this fund comes from charges to city departments benefiting
from services provided.
Stores Inventory - This fund accounts for the City's Warehouse and Central Stores operation. The source of
revenue is a reimbursement of costs for items purchased by other departments.
131
City of Chula Vista
Combining Statement of Net Position
All Internal Service Funds
June 30, 2013
Fleet Technology Workers
Management Replacement Compensation Total
ASSETS
Current assets:
Cash and investments $ 117051192 $ 21650 $ 212001309 $ 319081151
Receivables:
Accounts 71146 - - 71146
Other 11988 - - 11988
Total current assets 117141326 21650 212001309 319171285
Noncurrent assets:
Capital assets,net 7791645 - - 7791645
Total noncurrent assets 7791645 - - 7791645
Total assets 214931971 21650 212001309 416961930
LIABILITIES
Current liabilities:
Accounts payable 2991549 - - 2991549
Accrued liabilities 321454 - - 321454
Total current liabilities 3321003 - - 3321003
Noncurrent liabilities:
Compensated absences 681654 - - 681654
Total noncurrent liabilities 681654 - - 681654
Total liabilities 4001657 - - 4001657
NET POSITION
Net investment in capital assets 7791645 - - 7791645
Unrestricted 113131669 21650 212001309 315161628
Total net position $ 210931314 $ 21650 $ 212001309 $ 412961273
132
City of Chula Vista
Combining Statement of Revenues, Expenses, and Changes in Net Position
All Internal Service Funds
For the year ended June 30, 2013
Fleet Technology Workers
Management Replacement Compensation Total
OPERATING REVENUES:
Charges for services $ 314381593 $ - $ 219091830 $ 613481423
Other 2701286 - - 2701286
Total operating revenues 317081879 - 219091830 616181709
OPERATING EXPENSES:
Operations and administration 316921316 362 317301058 714221736
Depreciation 3511254 - - 3511254
Total operating expenses 410431570 362 317301058 717731990
Operating income(loss) (334,691) (362) (820,228) (11155,281)
NONOPERATING REVENUES:
Interest income (81832) - - (81832)
Gain(loss)on disposal of capital assets 821587 - - 821587
Total nonoperating revenues 731755 - - 731755
Income(loss)before transfers (260,936) (362) (820,228) (11081,526)
TRANSFERS:
Transfers in 3001000 - - 3001000
Total transfers 3001000 - - 3001000
Net increase(decrease)in net position 391064 (362) (820,228) (781,526)
NET POSITION:
Beginning of year 210541250 31012 310201537 510771799
End of year $ 210931314 $ 2,650 $ 212001309 $ 412961273
133
City of Chula Vista
Combining Statement of Cash Flows
All Internal Service Funds
For the year ended June 30, 2013
Fleet Technology Workers
Management Replacement Compensation Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from other funds $ 314711657 $ - $ 219091830 $ 613811487
Cash payments to suppliers and employees for goods and services (31577,629) (362) (31730,058) (71308,049)
Other operating revenues 2701286 - - 2701286
Net cash provided(used)by operating activities 1641314 (362) (820,228) (656,276)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:
Acquisition of capital assets (703,119) - - (703,119)
Proceeds received from disposal of capital assets 821587 - - 821587
Net cash(used)by capital and related financing activities (620,532) - - (620,532)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Transfers in 3001000 - - 3001000
Net cash provided by noncapital financing activities 3001000 - - 3001000
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest revenue (51872) - - (51872)
Net cash used by investing activities (51872) - - (51872)
Net(decrease)in cash and cash equivalents (162,090) (362) (820,228) (982,680)
CASH AND CASH EQUIVALENT:
Beginning of year 118671282 31012 310201537 418901831
End of year $ 117051192 $ 2,650 $ 212001309 $ 319081151
RECONCILIATION OF OPERATING LOSS TO
NET CASH PROVIDED(USED)BY OPERATING ACTIVITIES:
Operating(loss) $ (334,691) $ (362) $ (820,228) $ (11155,281)
Adjustments to reconcile operating loss to
net cash provided(used)by operating activities:
Depreciation 3511254 - - 3511254
Changes in operating assets and liabilities:
Accounts receivable (71146) - - (71146)
Other receivable 401210 - - 401210
Accounts payable 761342 - - 761342
Accrued liabilities 321454 - - 321454
Compensated absences 51891 - - 51891
Total adjustments 4991005 - - 4991005
Net cash provided(used)by operating activities $ 1641314 $ (362) $ (820,228) $ (656,276)
134
FIDUCIARY FUNDS_
AGENCY FUND
The Agency Fund is used to account for assets held by the City in a trustee capacity for individuals, private
organizations, other governments, and/or other funds.
Special Assessment District - This fund accounts for all money collected to pay for debt services of the various
assessment districts for which the City acts as paying agent but has no legal commitment or obligation.
Miscellaneous Deposits - This fund accounts for all money collected to pay for certain deposits.
135
City of Chula Vista
Statement of Changes in Assets and Liabilities
Agency Fund
For the year ended June 30, 2013
Balance Balance
July 1,2012 Additions Deletions June 30,2013
Special Assessment District
Assets:
Cash and investments $ 7,796,044 $ 2,247,589 $ - $ 1043,633
Restricted cash and investments:
Held by fiscal agents 72,918,839 1,791,789 - 74,710,628
Total assets $ 80,71403 $ 4,039,378 $ - $ 84,754,261
Liabilities:
Due to bondholders $ 80,712,162 $ 4,042,099 $ - $ 84,754,261
Accounts Payable 2,72 1 - (2,72 1) -
Total liabilities $ 80,71403 $ 4,042,099 $ (2,721) $ 84,754,261
Miscellaneous Deposits
Assets:
Cash and investments $ 13,257 $ - $ - $ 286,123
Other Receivables 19,787 - - 21,002
Total assets $ 33,044 $ - $ - $ 307,125
Liabilities:
Refundable deposits $ 33,044 $ 214,922 $ (34,857) $ 212,875
Accounts Payable - - - 234
Due to City - 94,016 - 94,016
Total liabilities $ 33,044 $ 308,938 $ (34,857) $ 307,125
Total-All A2ency Funds
Assets:
Cash and investments $ 709,301 $ 2,247,589 $ - $ 10,329,756
Restricted cash and investments:
Held by fiscal agents 72,918,839 1,791,789 - 74,710,628
Other Receivables 19,787 - - 21,002
Total assets $ 80,747,927 $ 4,039,378 $ - $ 85,061,386
Liabilities:
Accounts Payable $ 2,721 $ - $ (2,721) $ 234
Due to bondholders 80,712,162 4,042,099 - 84,754,261
Due to City - 94,016 - 94,016
Refundable Deposits 33,044 214,922 (34,857) 212,875
Total liabilities $ 80,747,927 $ 4,351,037 $ (37,578) $ 85,061,386
136
STATISTICAL SECTION
This part of the City of Chula Vista's comprehensive annual financial report presents detailed information as a context for understanding
what the information in the financial statements,note disclosures,and required supplementary information says about the city's overall
financial health.
Table of Contents
Pas!e No.
Financial Trends 138-142
These schedules contain information to help the reader understand how
the city's financial performance and well-being have changed over
time.
Revenue Capacity 143-146
These schedules contain information to help the reader assess the factors
affecting the city's ability to generate its property and sales taxes.
Debt Capacity 147-151
These schedules present information to help the reader assess the
affordability of the city's current levels of outstanding debt and the city's
ability to issue additional debt in the future.
Demographic and Economic Information 152-153
These schedules offer demographic and economic indicators to help the
reader understand the environment within which the city's financial
activities take place and to help make comparisons over time and with
other governments.
Operating Information 154-156
These schedules contain information about the city's operations and
resources to help the reader understand how the city's financial
information relates to the services the city provides and the activities
it performs.
137
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143
CITY OF CHULA VISTA
Direct and Overlapping Property Tax Rates
(Rate per$100 of assessed value)
Last Ten Fiscal Years
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
City Direct Rates:
City basic rate 0.1437 0.1438 0.1438 0.1438 0.1438 0.1438 0.1438 0.1438 0.1438 0.1438
Overlapping Rates:
Chula Vista Elementary School 0.0272 0.0281 0.0274 0.0266 0.0203 0.0176 0.0251 0.0261 0.0259 0.0253
District Bonds
Sweetwater Union High School 0.0196 0.0182 0.0225 0.0202 0.0471 0.0462 0.0558 0.0552 0.0608 0.0586
District Bonds
Southwestern Community 0.0073 0.0130 0.0151 0.0141 0.0125 0.0132 0.0344 0.0364 0.0331 0.0375
College Bonds
MWD D/S Remainder of 0.0061 0.0058 0.0052 0.0047 0.0045 0.0043 0.0043 0.0037 0.0037 0.0035
SDCWA 15019999
CWA South Bay Irrigation 0.0007 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000
Debt Service
County of San Diego** 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
Total Overlapping Rates 1.0608 1.0651 1.0702 1.0655 1.0844 1.0813 1.1196 1.1213 1.1235 1.1249
Breakdown of the County of San Diego 1.00 Rate:**
County General 0.15920355
Gen Elem Chula Vista 0.29103670
High Sweetwater Union 0.18823068
Southwestern Community College 0.05072194
County School Service 0.00757296
County School Service-Capital Outlay 0.00190859
Childrens Institutions Tuition 0.00161434
Regional Occupational Centers 0.00483027
Chula Vista Project(19/84601) 0.00019695
Chula Vista Project(19/84602) 0.00039390
Educational Revenue Augmentation Fund 0.14676995
Chula Vista City 0.14375071
South Bay Irrigation 0.00000000
CWA South Bay Irrigation 0.00376946
San Diego Unified Port 0.00000000
Total 1.00000000
NOTE:
In 1978,California voters passed Proposition 13 which sets the property tax rate at a 1.00%fixed amount. This 1.00%is shared by all taxing agencies for
which the subject property resides within. In addition to the 1.00%fixed amount,property owners are charged taxes as a percentage of assessed property
values for the payment of school bonds and other debt service. Overlapping rates may vary by tax rate area. The data listed in this table is representative of
tax rate area 001001.
Source: County of San Diego Property Tax Services
144
CITY OF CHULA VISTA
Principal Property Tax Payers
Current Year and Nine Years Ago
2013 2004
Percent of Percent of
Total City Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
Rohr Inc. $ 181,597,655 1 0.87% 182,862,681 1 1.38%
JPB Development 131,242,850 2 0.63% -
Equity Residential 118,922,698 3 0.57% -
GGP-Otay Ranch LP 118,496,741 4 0.57% -
Regulo Place Apartments Invest 92,893,489 5 0.44% -
Bre Properties Inc. 85,724,074 6 0.41% 87,094,112 5 0.66%
Corky McMillin Homes 74,138,192 7 0.35% 127,125,453 3 0.96%
Chula Vista Center LLC 74,126,926 8 0.35% 63,224,180 9 0.48%
Camden USA Inc. 64,164,161 9 0.31% -
Essel LP 51,942,960 10 0.25% -
Otay Project LP - - 131,180,180 2 0.99%
Eastlake Company LLC - - 101,282,512 4 0.77%
Duke Energy South Bay LLP - - 71,909,542 6 0.54%
SSR Realty Advisors/CALSTRS - - 67,773,900 7 0.51%
Trimark San Miguel Ranch - - 64,362,704 8 0.49%
Gateway Chula Vista LLC - - 54,642,974 10 0.41%
$ 993,249,746 4.74% 951,458,238 7.19%
The amounts shown above include assessed value data for both the City and the Redevelopment Agency.
Source: MuniServices,LLC
County of San Diego Property Tax Services
145
CITY OF CHULA VISTA
Property Tax Levies and Collections
Last Ten Fiscal Years
Collected within the
Fiscal Taxes Levied Fiscal Year of Levy Collections in Total Collections to Date
Year Ended for the Percent Subsequent Percent
June 30 Fiscal Year 1 Amount of Levy Years 2 Amount of Levy
2004 1612001005 1519591723 98.52% 1161784 1610761507 99.24%
2005 1816521193 1813241623 98.24% 1061497 1814311120 98.81%
2006 2210961604 2116171022 97.83% 1621806 2117791829 98.57%
2007 2511591692 2414091063 97.02% 2091442 2416181505 97.85%
2008 2816411734 2715061299 96.04% 4601875 2719671173 97.64%
2009 2913041771 2811471698 96.05% 7651703 2819131402 98.66%
2010 2612461478 2513131706 96.45% 5381429 2518521135 98.50%
2011 2513251126 2417731002 97.82% 1341325 2419071328 98.35%
2012 2513731780 2416691632 97.22% (35,474) 2416341158 97.09%
2013 2513521454 2419821072 98.54% 1171973 2511001045 99.00%
1 Levy amounts do not include supplemental taxes.
2 Collection amounts represent delinquencies collected for all prior years during the current tax year.
Total delinquent collections are reduced by any refunds processed from prior year tax collections.
Source: County of San Diego Property Tax Services
146
CITY OF CHULA VISTA
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities
Fiscal Year Pension Tax Total Percentage Debt
Ended Obligation Allocation Certificates of Governmental of Personal Per
June 30 Bonds Bonds Loans Participation Activities Income l Capita l
2004 13,985,870 42,12500 7,315,971 92,92000 156,346,841 1.90% 774
2005 12,991,962 41,240,000 8,193,481 127,599,255 190,024,698 2.15% 901
2006 11,795,000 40,29500 9,811,786 144,24000 206,141,786 2.23% 937
2007 10,41500 41,27500 9,573,012 139,84500 201,108,012 2.11% 887
2008 8,82000 40,18500 19,304,342 135,04500 203,354,342 2.09% 878
2009 70000 45,83000 18,736,012 130,58000 202,146,012 2.02% 857
2010 4,98000 44,92500 17,686,144 139,70000 207,291,144 2.16% 866
2011 2,65500 43,98500 16,87600 136,060,000 199,57600 2.00% 818
2012 - 430500 19,673,344 132,29000 194,968,344 1.92% 793
2013 - -2 14,182,697 128,37500 142,557,697 1.38% 572
1 These ratios are calculated using personal income and population for the prior calendar year.
2 Tax Allocation Bonds transferred to Successor Agency and shown as fiduciary fund.
Notes:Details regarding the City's outstanding debt can be found in the notes to the
financial statements.
147
CITY OF CHULA VISTA
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
(In thousands, except Per Capita)
Outstanding General Bonded Debt
Fiscal Year Pension Tax Percent of
Ended Obligation Allocation Assessed Per
June 30 Bonds Bonds Total Value 1 Capita
2004 131986 421125 561111 0.42% 278
2005 121992 411240 541232 0.35% 257
2006 111795 401295 521090 0.28% 237
2007 101415 411275 511690 0.24% 228
2008 81820 401185 491005 0.20% 212
2009 71000 451830 521830 0.21% 224
2010 41980 441925 491905 0.23% 208
2011 21655 431985 461640 0.22% 191
2012 - 431005 431005 0.20% 175
2013 - 411985 411985 0.20% 168
General bonded debt is debt payable with governmental fund resources and general
obligation bonds recorded in enterprise funds(of which,the City has none).
1 Assessed value has been used because the actual value of taxable property is not
readily available in the State of California.
148
CITY OF CHULA VISTA
Direct and Overlapping Debt
June 30,2013
2012-13 Assessed Valuation: $20,942,796,908
Total Debt City's Share of
OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/13 %Applicable(1) Debt 6/30/13
Metropolitan Water District $ 165,085,000 0.996% $ 1,644,247
Otay Municipal Water District,I.D.No.27 6,235,000 99.995 6,234,688
Southwestern Community College District 235,884,345 50.575 119,298,507
Sweetwater Union High School District 361,299,415 60.436 218,354,914
Chula Vista City School District 64,215,000 86.933 55,824,026
Chula Vista City School District Schools Facilities Improvement Dist 1 31,000,000 80.949 25,094,190
City of Chula Vista Community Facilities Districts 205,885,000 100. 205,885,000 (2)
Sweetwater Union High School District Community Facilities Districts 143,023,149 15.812-100. 133,865,124
Chula Vista City School District Community Facilities Districts 5,040,000 99.718 5,025,787
City of Chula Vista 1915 Act Bonds 22,945,015 100. 22,945,015
TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT $ 794,171,498
DIRECT AND OVERLAPPING GENERAL FUND DEBT:
San Diego County General Fund Obligations $ 399,780,000 5.481% $ 21,911,942
San Diego County Pension Obligations 753,897,748 5.481 41,321,136
San Diego County Superintendent of Schools Obligations 17,462,500 5.481 957,120
Southwestern Community College District Certificates of Participation 1,245,000 50.575 i 629,659
Sweetwater Union High School District General Fund Obligations 37,775,000 60.436 22,829,699
Chula Vista City School District Certificates of Participation 140,585,000 86.933 122,214,758
City of Chula Vista Certificates of Participation 12893759000 100. 12893759000
Otay Municipal Water District Certificates of Participation 48,145,000 62.920 30,292,834
TOTAL GROSS DIRECT AND OVERLAPPING GENERAL FUND DEBT $ 368,532,148
Less: Otay Municipal Water District Certificates of Participation 30,292,834
TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT $ 338,239,314
OVERLAPPING TAX INCREMENT DEBT(Successor Agency): $ 41,985,000 99.038-100.% $ 41,776,968
TOTAL DIRECT DEBT $ 12893759000
TOTAL GROSS OVERLAPPING DEBT $ 1,076,105,614
TOTAL NET OVERLAPPING DEBT $ 1,045,812,780
GROSS COMBINED TOTAL DEBT $ 1,204,480,614 (3)
NET COMBINED TOTAL DEBT $ 1,174,187,780
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were
estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the
district's total taxable assessed value.
(2) Excludes refunding issues dated 8/21/13. Includes issues to be refunded.
(3) Excludes tax and revenue anticipation notes,enterprise revenue,mortgage revenue and non-bonded capital lease obligations. Qualified Zone
Academy Bonds are included based on principal due at maturity.
Ratios to 2012-13 Assessed Valuation:
Total Overlapping Tax and Assessment Debt.............................. 3.79%
Total Direct Debt($128,375,000)......................................... 0.61%
Gross Combined Total Debt................................................... 5.75%
Net Combined Total Debt....................................................... 5.61%
Ratios to Redevelopment Incremental Valuation($1,143,033,852):
Total Overlapping Tax Increment Debt...................................... 3.65%
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CITY OF CHULA VISTA
Pledged-Revenue Coverage
Last Ten Fiscal Years
Tax Allocation Bonds
Fiscal Year
Ended Tax Debt Service
June 30 Increment Principal Interest Coverage
2004 1013171573 6251000 219021851 2.92
2005 819391444 8851000 218551288 2.39
2006 1014041880 9451000 217971726 2.78
2007 1119351618 9951000 217351150 3.20
2008 1317931329 110901000 119651103 4.51
2009 1317811683 8701000 117281722 5.30
2010 1318841637 9051000 210701381 4.67
2011 1318221938 9401000 210321665 4.65
2012 1019311615 9801000 119921565 3.68
2013 319491717 110201000 119481865 1.33
Note: Details regarding the city's outstanding debt can be found in the notes to
the financial statements.
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152
CITY OF CHULA VISTA
Principal Employers
Current Year and Nine Years Ago
2013 2004 1
Percent of Percent of
Number of Total Number of Total
Employer Employees Employment Employees Employment
Sweetwater Union High School District 41076 7.65% n/a n/a
Chula Vista Elementary School District 21788 5.23% n/a n/a
Rohr Inc./Goodrich Aerospace 21469 4.63% n/a n/a
Sharp Chula Vista Medical Center 11736 3.26% n/a n/a
Southwestern Community College 11562 2.93% n/a n/a
Wal-Mart 11242 2.33% n/a n/a
Scripps Mercy Hospital Chula Vista 11139 2.14% n/a n/a
Target 664 1.25% n/a n/a
Costco Wholesale Corp 534 1.00% n/a n/a
Aquatica San Diego 501 0.94% n/a n/a
1 2004 data is not available.
"Total Employment"as used above represents the total employment of all employers located
within City limits.
Source: State Employment Development Department
City Finance Department
Sweetwater Union High School District
Chula Vista Elementary School District
Southwestern Community College
153
CITY OF CHULA VISTA
Full-time and Part-time City Employees
by Function
Last Ten Fiscal Years
Full-Time and Part-time Employees as of June 30
Function 20041 2005 2006 2007 2008 2009 2010 2011 2012 2013
General government 465 193 380 324 302 272 273 258 269 282
Public safety 480 528 518 548 504 476 468 448 432 432
Public works/engr 249 335 198 237 188 181 175 155 159 164
Parks and recreation - 175 230 242 223 169 164 112 115 115
Library 182 217 252 227 196 189 73 41 76 82
Planning and building 99 91 97 83 68 63 62 54 55 49
Total 11475 11539 11675 11661 11481 11350 11215 11068 11106 11124
1 Parks and Recreation employee count included in General Government count
Source:City Finance Department
154
CITY OF CHULA VISTA
Operating Indicators
by Function
Last Ten Fiscal Years
Fiscal Year Fiscal Year
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Police:
Citizen-initiated calls for service 71,000 74,106 73,075 74,277 74,192 70,051 68,601 65,186 64,885 66,319
Fire:
Number of emergency calls i 8,420 9,907 n/a 14,853 14,548 14,983 11,490 11,319 12,863 12,950
Inspections n/a n/a 1,780 2,119 n/a 3,676 2,898 2,389 2,205 2,390
Public works:
Street resurfacing/maintenance 2 252,789 142,864 230,598 157,903 77,507 108,745 84,276 99,978 55,398 121,428
(square feet)
Parks and recreation:
Number of recreation classes 1,819 1,709 1,821 2,231 2,575 2,149 2,301 2,008 1,914 2,572
Number of facility rentals 402 680 610 855 1,217 969 1,175 1,524 2,028 1,915
Library:
Circulation 1,308,709 1,414,295 1,467,799 1,344,115 1,265,720 1,160,139 985,157 952,847 982,688 992,005
Attendance 1,070,560 1,121,119 1,170,168 1,148,024 1,296,245 820,243 605,979 614,841 722,310 832,975
Sewer:
New connections 2,480 1,934 488 529 165 468 469 287 646 968
Average daily sewage treatment 15.8 17.0 16.9 17.0 16.8 16.5 16.2 16.3 15.9 15.7
(millions of gallons)
1 Figure for 2005 represents the calendar year instead of fiscal year.
2 Excludes filling of potholes and crack sealing.
Note: Data is not available for the fiscal years marked as n/a.
Source:City of Chula Vista
155
CITY OF CHULA VISTA
Capital Asset Statistics
by Function
Last Ten Fiscal Years
Fiscal Year Fiscal Year
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Police:
Stations 1 1 1 1 1 1 1 1 1 1
Fire:
Fire stations 7 8 9 9 9 9 9 9 9 9
Public works:
Streets(miles) 370.9 373.8 387.3 403.3 416.9 421.0 429.5 429.5 429.5 429.5
Streetlights 8,047 8,368 8,501 8,953 9,013 9,026 9,052 9,054 9,066 9,069
Traffic signals 188 199 220 238 253 267 267 268 269 273
Parks and recreation:
Parks(acreage)1 394.6 406.4 482.8 504.1 504.1 504.1 504.1 523.1 530.7 530.7
Recreation facilities 9 9 12 12 12 11 11 11 11 11
Library:
Libraries 2 2 2 2 2 2 2 2 3 3
Sewer:
Sewer pipes(miles) 448.1 455.8 471.3 484.2 493.8 496.5 505.0 505.0 505.0 505.0
Storm drains(miles) 191.9 219.9 228.6 234.0 244.7 245.3 248.9 248.9 249.0 249.0
Maximum daily treatment capacity 19.8 20.9 20.9 20.9 20.9 20.9 20.9 20.9 20.9 20.9
(millions of gallons)
i Includes community,neighborhood,special purpose,mini,and urban parks.
Source:City of Chula Vista
156