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Comprehensive Annual Financial Report Year Ended June 30, 2012

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Comprehensive Annual Financial Report Year Ended June 30, 2012 COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED JUNE 30, 2012 city of About the Cover Americana at Brand Expansion The Americana at Brand opened in May 2008 and along with the Glendale Galleria, has been instrumental in creating a regional shopping district in the heart of the City. With 75 retail shops and a variety of dining options, the Americana is one of the premiere “lifestyle” centers in Southern California. The Americana also includes 100 condominiums and 238 apartments, and a 2-acre landscaped park, featuring an animated fountain centrally located within the project. In October 2011, the City approved a major expansion of the Americana, permitting the way for the relocation of Nordstrom into a new 120,000 SF anchor store. The new Nordstrom will sit on the site of a former motel and warehouse building and will seamlessly integrate with the larger center using a mixture of building finishes and colors that are complimentary to the original Americana design. Completion of the expansion is scheduled for October 2013, and once completed, will reaffirm Glendale as one of the region’s leading shopping destinations. Galleria Renovation One of the City’s first redevelopment projects, the Glendale Galleria opened its doors for business in 1976. Today, the Glendale Galleria draws over 26 million visitors a year, competing as a top Los Angeles area destination with the likes of Disneyland. With 250 of the country’s top specialty stores and four major department stores, Glendale Galleria is one of the premier brand-name shopping destinations in the Los Angeles area. In November 2011, the City approved a comprehensive renovation plan for the Galleria that includes new interior finishes, such as new stone and tile floors, façade improvements, and a new branding identity package, including new signage and graphics. In August 2012, the City separately approved the design of the new Bloomingdales, which will occupy formerly vacant anchor space on the corner of Brand & Broadway. Construction is underway and will be completed by the end of 2013. City of Glendale, CA City Council Frank Quintero, Mayor Council Members: Dave Weaver, Laura Friedman, Ara Najarian, Rafi Manoukian CITY OF GLENDALE CALIFORNIA COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2012 Robert Elliot, CPA, Director of Finance Lily Fang, Finance Administrator CITY OF GLENDALE, CALIFORNIA Table of Contents Exhibit Page INTRODUCTORY SECTION (Not Covered by Independent Auditor’s Report) Letter of Transmittal ..................................................................................... i Officials of the City of Glendale .................................................................. xi Organizational Chart of the City of Glendale .............................................. xii Certificate of Achievement for Excellence in Financial Reporting ............ xiii FINANCIAL SECTION Independent Auditor’s Report ...................................................................... 1 Management’s Discussion and Analysis ..................................................... 3 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Assets ................................................................ Exhibit A-1 25 Statement of Activities .................................................................. Exhibit A-2 27 Fund Financial Statements: Balance Sheet – Governmental Funds .......................................... Exhibit B-1 28 Reconciliation of Balance Sheet of Governmental Funds to the Statement of Net Assets ................................................... Exhibit B-2 30 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds .................................. Exhibit C-1 31 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities ..................................................... Exhibit C-2 32 Statement of Revenues and Other Financing Sources – Budget to Actual – General Fund .......................................... Exhibit D-1 33 Statement of Expenditures and Other Financing Uses – Budget to Actual – General Fund .......................................... Exhibit D-2 36 Schedule of Revenues – Budget to Actual – Housing Assistance Fund ...................................................... Exhibit D-3 46 Schedule of Expenditures – Budget to Actual – Housing Assistance Fund ...................................................... Exhibit D-4 47 Statement of Net Assets – Proprietary Funds ............................... Exhibit E-1 48 Statement of Revenues, Expenses, and Changes in Net Assets – Proprietary Funds ............................................. Exhibit E-2 50 Statement of Cash Flows – Proprietary Funds .............................. Exhibit E-3 51 Statement of Fiduciary Net Assets – Fiduciary Fund ................... Exhibit F-1 52 Statement of Changes in Fiduciary Net Assets – Fiduciary Fund ....................................................................... Exhibit F-2 53 Notes to the Financial Statements ......................................................... 55 Required Supplementary Information .................................................. 97 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet – Nonmajor Governmental Funds ..... Exhibit G-1 99 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds ............................................ Exhibit G-2 100 Combining Balance Sheet – Nonmajor Governmental Funds – Special Revenue Funds ........................................................... Exhibit H-1 103 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds – Special Revenue Funds ... Exhibit H-2 110 Schedules of Revenues and Other Financing Sources – Budget to Actual – Nonmajor Governmental Funds – Special Revenue Funds ... Exhibit H-3 117 Schedules of Expenditures and Other Financing Uses – Budget to Actual – Nonmajor Governmental Funds – Special Revenue Funds ... Exhibit H-4 121 Combining Balance Sheet – Nonmajor Governmental Funds – Debt Service Funds ................................................................. Exhibit I-1 127 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds – Debt Service Funds ......... Exhibit I-2 128 Schedules of Revenues and Other Financing Sources – Budget to Actual – Nonmajor Governmental Funds – Debt Service Funds ......... Exhibit I-3 130 Schedules of Expenditures and Other Financing Uses – Budget to Actual – Nonmajor Governmental Funds – Debt Service Funds ......... Exhibit I-4 131 Combining Balance Sheet – Nonmajor Governmental Funds – Capital Projects Funds ............................................................ Exhibit J-1 135 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds – Capital Projects Funds .... Exhibit J-2 136 Combining Statement of Net Assets – Proprietary Funds – Nonmajor Enterprise Funds ................. Exhibit K-1 139 Combining Statement of Revenues, Expenses and Changes in Net Assets – Proprietary Funds – Nonmajor Enterprise Funds ................. Exhibit K-2 141 Combining Statement of Cash Flows – Proprietary Funds – Nonmajor Enterprise Funds ................. Exhibit K-3 143 Schedule of Investment in Capital Assets – Proprietary Funds – Nonmajor Enterprise Funds ................. Exhibit K-4 145 Schedule of Changes in Capital Assets – Proprietary Funds – Nonmajor Enterprise Funds ................. Exhibit K-5 146 Combining Statement of Net Assets – Internal Service Funds .... Exhibit L-1 149 Combining Statement of Revenues, Expenses and Changes in Net Assets – Internal Service Funds ................... Exhibit L-2 152 Combining Statement of Cash Flows – Internal Service Funds ... Exhibit L-3 156 Capital Assets Used in the Operation of Governmental Funds Schedule by Function and Activity ....................................... Exhibit M-1 160 Schedule of Changes by Function and Activity .................... Exhibit M-2 162 STATISTICAL SECTION (Not Covered by Independent Auditor’s Report) Net Assets by Component .................................................................... Schedule 1 165 Changes in Net Assets .......................................................................... Schedule 2 166 Fund Balances, Governmental Funds ................................................... Schedule 3 172 Changes in Fund Balances, Governmental Funds ............................... Schedule 4 174 Electric Revenue by Type of Customers .............................................. Schedule 5 176 Electric Rates ........................................................................................ Schedule 6 178 Principal Electric Payer Groups ............................................................ Schedule 7 179 Assessed Value and Actual Value of Taxable Property ...................... Schedule 8 180 Direct and Overlapping Property Tax Rates ........................................ Schedule 9 181 Principal Property Tax Payers .............................................................. Schedule 10 183 Property Tax Levies and Collections ................................................... Schedule 11 184 Ratios of Outstanding Debt by Type .................................................... Schedule 12 185 Direct & Overlapping Governmental Activities Debt
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