DOCSLIB.ORG

CAFR Comprehensive Annual Financial Report City of Fresno, California for the Fiscal Year Ended June 30, 2015

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
CAFR Comprehensive Annual Financial Report City of Fresno, California for the Fiscal Year Ended June 30, 2015 2015 CAFR City of Fresno, California Comprehensive Annual Financial Report For the fiscal year ended June 30, 2015 2015 CAFR Comprehensive Annual Financial Report City of Fresno, California For the fiscal year ended June 30, 2015 Prepared by The City of Fresno Finance Department Michael Lima, Finance Director/City Controller Financial Reporting Staff Karen M. Bradley, CPA, Assistant Controller S. Kim Jackson, Administrative Manager Margaret Bell, CPA, Principal Accountant Roberta Cope, CPA, Principal Accountant Greg Wiles, CPA, Treasury Officer Phillip Hardcastle, Principal Accountant Anita Villarreal, Management Analyst II Gilbert Elizondo, Senior Accountant-Auditor Corrina Barbarite, Senior Accountant-Auditor Mary Boyajian, Accountant-Auditor II Karen Hillius, Accountant-Auditor II Jose Barboza, Accounting Technician Lilly A. Bañuelos, Executive Assistant Special Thanks to Renona Sawatzky, Accountant-Auditor II Janice Denman, Accountant-Auditor II CAFR, Single Audit and Capital Asset Leads in all City Departments throughout the City City of Fresno ● www.fresno.gov This page intentionally left blank. 2015 CAFR Comprehensive Annual Financial Report City of Fresno, California For the fiscal year ended June 30, 2015 INTRODUCTORY SECTION City of Fresno ● www.fresno.gov 2015 CAFR Comprehensive Annual Financial Report City of Fresno, California For the fiscal year ended June 30, 2015 TABLE OF CONTENTS PAGE INTRODUCTORY SECTION Controller’s Transmittal Letter ...................................................................................................................................... I City Operating Fund Structure .................................................................................................................................... XI City Organizational Chart ........................................................................................................................................... XII Directory of City Officials ........................................................................................................................................... XIII Certificate of Achievement – Government Finance Officers Association ............................................................... XV FINANCIAL SECTION Independent Auditor’s Report ..................................................................................................................................... 1 Management’s Discussion and Analysis (Unaudited) ................................................................................................ 5 BASIC FINANCIAL STATEMENTS Government-wide Financial Statements: Statement of Net Position ........................................................................................................................................ 49 Statement of Activities .............................................................................................................................................. 50 Fund Financial Statements: Balance Sheet – Governmental Funds .................................................................................................................... 54 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position ............................. 55 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ........................ 56 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ..................................................................................... 57 Statement of Net Position – Proprietary Funds ....................................................................................................... 58 Statement of Revenues, Expenses and Changes in Fund Net Position – Proprietary Funds ............................... 62 Statement of Cash Flows – Proprietary Funds ........................................................................................................ 64 Statement of Fiduciary Net Position – Fiduciary Funds – Trust and Agency Funds .............................................. 68 Statement of Changes in Fiduciary Net Position – Fiduciary Funds – Trust Funds .............................................. 69 City of Fresno ● www.fresno.gov 2015 CAFR Comprehensive Annual Financial Report City of Fresno, California For the fiscal year ended June 30, 2015 TABLE OF CONTENTS - CONTINUED PAGE Notes to Financial Statements: Note 1 Summary of Significant Accounting Policies ............................................................................................... 71 Note 2 Cash and Investments .................................................................................................................................. 97 Note 3 Property Taxes ............................................................................................................................................. 109 Note 4 Receivables ................................................................................................................................................. 110 Note 5 Property, Plant and Equipment – Capital Assets ...................................................................................... 112 Note 6 Long-Term Liabilities ................................................................................................................................... 118 Note 7 Interfund Activity ......................................................................................................................................... 130 Note 8 Defeasance and Refunding of Long-Term Debt ........................................................................................ 137 Note 9 Risk Management Fund ............................................................................................................................. 138 Note 10 Employee Benefit Programs ..................................................................................................................... 139 Note 11 No-Commitment Debt ............................................................................................................................... 163 Note 12 Commitments and Contingencies ........................................................................................................... 164 Note 13 Securities Lending .................................................................................................................................... 174 Note 14 Other Information ..................................................................................................................................... 174 Note 15 Change in Accounting Estimate and Cumulative Effect of Accounting Change ................................... 174 Note 16 Subsequent Events................................................................................................................................... 176 Note 17 Restated Financial Results Due to a Correction of an Error .................................................................. 179 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Revenues and Expenditures – Budget and Actual (Non-GAAP Budgetary Basis) General Fund ................................................................................................................................................... 182 Grants Special Revenue Fund......................................................................................................................... 184 Notes to the Required Supplementary Information .............................................................................................. 186 Schedule of Investment Returns – Employees, Fire and Police Retirement Systems ........................................ 189 Schedules of Funding Progress .............................................................................................................................. 190 Schedule of Changes in Net Pension Liability and Related Ratios– Employees, Fire and Police Retirement Systems ............................................................................................................................................................ 191 Schedule of Employer Contributions – Employees, Fire and Police Retirement Systems .................................. 192 Retirees Healthcare Plan – Other Postemployment Benefits – Schedule of Funding Progress ........................ 193 City of Fresno ● www.fresno.gov 2015 CAFR Comprehensive Annual Financial Report City of Fresno, California For the fiscal year ended June 30, 2015 TABLE OF CONTENTS - CONTINUED PAGE OTHER SUPPLEMENTARY INFORMATION: COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES: Nonmajor Governmental Funds: Combining Balance Sheet – Nonmajor Governmental Funds .............................................................................. 196 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds ....................................................................................................................... 198 Schedule of Revenues and Expenditures – Budget and Actual (Non-GAAP Budgetary Basis) High Speed Rail ................................................................................................................................................ 200 Special Gas Tax ...............................................................................................................................................
Load more

Recommended publications
  • Board Meeting Reminder
    I BOARD MEETING REMINDER The October 4, 201 7, Board meeting begins at 10:00 a.m.; (March through October meetings begin at 10:00 a.m.) Note: The meeting location is Fresno Metropolitan Flood Control District Board Room 250.20 STATE OF CALIFORNIA Edmund G. Brown, Jr., Governor 5469 E. Olive Avenue SAN JOAQUIN RIVER CONSERVANCY Fresno, California 93727 Telephone (559) 253-7324 Fax(559)456-3194 The San Joaquin River Conservancy Governing Board www.sjrc.ca.gov will hold a regular meeting on Wednesday, October 4, 2017, commencing at 10:00 a.m. GOVERNING BOARD Andreas Borgeas, Chairperson Board Meeting Location: Fresno County Board of Supervisors Fresno Metropolitan Flood Control District Brett Frazier, Vice-Chairperson 5469 E. Olive Ave., Fresno CA 93727 Madera County Board of Supervisors The following location is also open to Board members Steve Brandau and the public for attendance via phone conference: Councilmember, City of Fresno California Natural Resources Agency William Oliver 1416 Ninth Street, Ste. 1311 Councilmember, City of Madera Sacramento, CA 95814 Roy Spina, Director Fresno Metropolitan Flood Control MEETING AGENDA District CALL TO ORDER & PLEDGE OF ALLEGIANCE Carl Janzen, Director Madera Irrigation District A. ROLL CALL Julie Vance, Regional Manager Department of Fish and Wildlife B. PUBLIC COMMENT & BUSINESS FROM THE FLOOR The first ten minutes of the meeting are reserved for members Kent Gresham, Sector Superintendent of the public who wish to address the Conservancy Board on Department of Parks & Recreation items of interest that are not on the agenda and are within the John Donnelly, Executive Director subject matter jurisdiction of the Conservancy.
    [Show full text]
  • Doctor, Nurse Shortage Worsens As Demand Grows Breanna Hardy | Page 5
    www.thebusinessjournal.com UPDATED DAILY MARCH 26, 2021 thebusinessjournal.com the FOCUS | 9 Technology Apps give small businesses more firepower the EXECUTIVE PROFILE | 12 SIX FLAGS OVER FRESNO? Source: Negotiations underway to bring Christa Atchley Director amusement park to town Terry's House the LIST | 10 Edward Smith – STAFF WRITER Bitwise Tech Consulting tops the Business Technology Services list Negotiations are underway for a Six Flags amusement park to come to Fresno This Week Online 6 County despite fervent Leads 8 denial from City of Vallejo People on the Move 16 officials. Public Notices 18-25 Sources confirm that Opinion 26 talks have begun with the amusement park Six Flags | Continued Page 3 PHOTO BY JEREMY THOMPSON ON WIKIPEDIA.COM | “The Joker” steel roller coaster opened in 2016 at Vallejo’s Six Flags Discovery Kingdom. HEALTH CARE Doctor, nurse shortage worsens as demand grows Breanna Hardy | Page 5 PHOTO BY BREANNA HARDY | Nursing students from Gurnick Academy in Fresno receive their clinical hours by administering the Covid-19 vaccine. SENSITIVE TIME PRIORITY HANDLING PERIODICAL: FRIDAY, MARCH 26, 2021 ISSUE #325835 $1.25 PER COPY USPS 145-100 FRIDAY, MARCH 26, 2021 www.thebusinessjournal.com 3 Six Flags | From 1 about the possibility of locating true, but said “I am pursuing every the tourist attraction to the area. avenue to bring Fresno forward as Six Flags Marketing Manager Marc an entertainment community.” Merino said it is not their policy to Fresno City Councilman Mike comment on rumors. Karbassi said an amusement park Six Flags Discovery Kingdom in would need a great deal of land.
    [Show full text]
  • Fresno Unified School District
    NEW ISSUE - FULL BOOK-ENTRY RATING: Moody’s: “Aa3” See “RATING” herein. In the opinion of Jones Hall, A Professional Law Corporation, San Francisco, California, Bond Counsel, subject, however to certain qualifications described herein, under existing law, the interest on the Bonds is excluded from gross income for federal income tax purposes and such interest is not an item of tax preference for purposes of the federal alternative minimum tax. In the further opinion of Bond Counsel, such interest is exempt from California personal income taxes. See "TAX MATTERS." $75,000,000 FRESNO UNIFIED SCHOOL DISTRICT (Fresno County, California) General Obligation Bonds Election of 2016, Series B Dated: Date of Delivery Due: As shown on inside front cover Authority and Purpose. The captioned General Obligation Bonds, Election of 2016, Series B (the “Bonds”) are being issued by the Fresno Unified School District (the “District”) pursuant to certain provisions of the California Government Code and a resolution of the Board of Education of the District adopted on June 12, 2019. The Bonds were authorized at an election of the registered voters of the District held on November 8, 2016, which authorized the issuance of $225,000,000 principal amount of general obligation bonds for the purpose of financing the renovation, construction and improvement of school facilities (the “2016 Bond Authorization”). The Bonds are the second series of bonds to be issued under the 2016 Bond Authorization. See “THE BONDS – Authority For Issuance” and “THE FINANCING PLAN” herein. Security. The Bonds are general obligations of the District, payable solely from ad valorem property taxes levied on taxable property within the District and collected by the County of Fresno (the “County”).
    [Show full text]
  • Resort-Style Living in the Heart of the Valley
    www.thebusinessjournal.com UPDATED DAILY DECEMBER 28, 2018 thebusinessjournal.com the FOCUS | 8 Resort-style living in the heart of the Valley 2018 YEAR IN REVIEW Year’s most expensive home a taste of Mediterranean luxury Year in Review David Castellon - STAFF WRITER the EXECUTIVE After building their dream PROFILE | 9 home and raising their two children, the owners of a more than 7,200-square-foot house in Clovis decided it was time to downsize earlier this year. That’s not a particularly unique situation, except the house — which includes an Olympic-sized swimming pool, tennis court and a pool house big enough for guests — was purchased for $2.35 million, A look back at 2018 making it the most expensive home sold this year in Fresno, the LIST | 10 Tulare, Madera or Kings coun- ties, according to the Multiple PHOTOS VIA MLS | The year’s most expensive home, a 7,200-square-foot Guarantee Real Estate tops the Listing Service used by bro- Mediterranean-style home near Armstrong and Shepherd avenues in Most Expensive Home Sales list kers. Clovis, sits on 3.6 acres. Its interior features high-end granite surfaces in a massive indoor kitchen, as well as an outdoor kitchen with a grill Rama Ambati, a broker and and refrigerator. This Week Online 6 senior sales associate for Guar- The Leads 14-15 antee Real Estate in Fresno, Public Notices 16-21 who represented the owners of Please see the Most Expensive Home Sales list on page 10 Opinion 22 Homes | 3 2018 YEAR IN REVIEW 2018 YEAR IN REVIEW DINING RETAIL So, you want Stores, to open a they are a restaurant? changin’ Edward Smith – STAFF WRITER Gabriel Dillard – MANAGING EDITOR Following a number of years of shrinking restaurant space, 2018 The past 365 days proved to be seemed to be the year of their re- PHOTO BY DAVID CASTELLON | Four-legged friendy Lazy Dog Restaurant & Bar opened in October, a continuance of a sweeping tran- causing a stir in the local dining scene and giving customers a chance to eat with their pets on the sition in the retail sector.
    [Show full text]
  • $56,300,000 City of Fresno 2010-2011 Tax and Revenue Anticipation Notes Interest Rate: 2.00% Priced to Yield: 0.70% Cusip No.: 358082Ke4†
    NEW ISSUE - BOOK ENTRY ONLY Ratings: Moody’s: MIG-1 S&P: SP-1+ In the opinion of Orrick, Herrington & Sutcliffe llp, Note Counsel to the City of Fresno, based upon an analysis of existing laws, regulations, rulings, and court decisions, and assuming, among other matters, the accuracy of certain representations and compliance with certain covenants, interest on the Notes is excluded from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986 and is exempt from State of California personal income taxes. The amount treated as interest on the Notes and excluded from gross income may depend upon the taxpayer’s election under Internal Revenue Notice 94-84. In the further opinion of Note Counsel, interest on the Notes is not a specific preference item for purposes of the federal individual or corporate alternative minimum taxes, nor is it included in adjusted current earnings when calculating corporate alternative minimum taxable income. Note Counsel expresses no opinion regarding any other tax consequences related to the ownership or disposition of, or the accrual or receipt of interest on the Notes. See “Tax Matters” herein. $56,300,000 CITY OF FRESNO 2010-2011 TAX AND REVENUE ANTICIPATION NOTES INTEREST RATE: 2.00% PRICED TO YIELD: 0.70% CUSIP NO.: 358082KE4† Dated: Date of Delivery Due: June 30, 2011 The City of Fresno (the “City”) 2010-2011 Tax and Revenue Anticipation Notes (the “Notes”) are being issued to finance the seasonal cash flow requirements of the City during the fiscal year ending June 30, 2011. The Notes will be issued as fixed-rate notes in fully registered form.
    [Show full text]
  • AVAILABLE for Sale
    MAPLE AVENUE APARTMENTS AVAILABLE FOR SALE 809 S. Maple Avenue - Fresno, California MAPLE AVENUE APARTMENTS Apartments will not be shown without the listing agent present. Please do not tour the property unaccompanied or disturb residents. If you would like to view the property, please call the listing agent to schedule a time of mutual convenience. 9 Apartment Units For Additional Information Contact: Dustin Ilic, CCIM Asking Price: $620,000 Vice President - Investment Division 559.447.6292 - [email protected] $68,888 per Unit CA DRE #01772625 Brice Ewell Sales Associate One-bedroom, One-bath Units 559.447.6253 [email protected] CA DRE #02019233 Year Built: 1956 FRESNO OFFICE 7480 N Palm Ave #101, Fresno CA 93711 559.432.6200 Independently Owned and Operated VISALIA OFFICE 3447 S Demaree St , Visalia CA 93277 559.732.7300 www.newmarkpearson.com Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
    [Show full text]
  • Appendix H: Hazards
    City of Fresno – DNCP, FCSP, and DDC Draft Environmental Impact Report Appendix H: Hazards FirstCarbon Solutions K:\Publications\Client (PN‐JN)\3168\31680017\EIR\3 ‐ DEIR\31680017 Sec99‐00 Appendix Dividers.docx THIS PAGE INTENTIONALLY LEFT BLANK City of Fresno – DNCP, FCSP, and DDC Draft Environmental Impact Report H.1 ‐ Phase I Environmental Site Assessment (Phase I ESA) prepared for the DNCP FirstCarbon Solutions K:\Publications\Client (PN‐JN)\3168\31680017\EIR\3 ‐ DEIR\31680017 Sec99‐00 Appendix Dividers.docx THIS PAGE INTENTIONALLY LEFT BLANK PHASE I ENVIRONMENTAL SITE ASSESSMENT CITY OF FRESNO DOWNTOWN NEIGHBORHOODS COMMUNITY PLAN PROJECT AREA FRESNO, CALIFORNIA Pursuant to ASTM E 1527-05 Project No. 014-10022A October 7, 2011 Prepared for: Juan Gomez-Novy Moule & Polyzoides 180 East California Boulevard at Picher Alley Pasadena, California 91105 Prepared by: Krazan & Associates, Inc. 215 West Dakota Clovis, California 93612 (559) 348-2200 TABLE OF CONTENTS Project No. 014-10022A 1.0 EXECUTIVE SUMMARY.............................................................................................................. 1 2.0 PURPOSE, BACKGROUND AND SCOPE OF ASSESSMENT................................................ 4 2.1 Purpose ........................................................................................................................................... 4 2.2 Hazardous Materials Background ..................................................................................................5 2.3 Definition of Terms .......................................................................................................................
    [Show full text]