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City of Riverside,Ca Comprehensive Annual Rept for Fy Ended 870630
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City of Riverside California COMPREHENSIVE ANNUAL FINANCIAL REPORT For Fiscal Year Ended June 30, 1987 Prepared by the Finance Department Harold E. Brewer, Finance Director 3900 Main Street Riverside, California 92522 (714) 782-5660

CITY OF RIVERSIDE COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED JUNE 30, 1987 TABLE OF CONTENTS INTRODUCTION SECTION Letter of Transmittal City Officials x

Organization Chart x

Exhibit FINANCIAL SECTION Auditor's Opinion 2

Combined Statements - Overview ("Liftable" General Purpose Financial Statements):

Combined Balance Sheet - All Fund Types and Account Groups 1

4 Combined Statement of Revenues, Expenditures and Changes in Fund Balances All Governmental Fund Types 2

5 Combined Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual - General, Special Revenue, and Capital Projects Fund Types 3

7 Combined Statement of Revenues, Expenses and Changes in Retained Earnings All Proprietary Fund Types 4

8 Combined Statement of Changes in Financial Position -

All Proprietary Fund Types 5

9 Notes to Financial Statements 1

Financial Statements of Individual Funds and Account Groups:

Special Revenue Funds:

Combining Balance Sheet 1

38 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 2

39 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual 3

40 Debt Service Funds:

Combining Balance Sheet 4

44 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 5

45

CITY OF RIVERSIDE COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED JUNE 30, 1987 TABLE OF CONTENTS FINANCIAL SECTION (Continued)

Capital Projects Funds:

Combining Balance Sheet 6

48 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 7

49 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual 8

50 Enterprise Funds:

Combining Balance Sheet 9

54 Combining Statement of Revenues, Expenses and Changes in Retained Earnings 10 55 Combining Statement of Changes in Financial Position 11 56 Memorandum Statement of Income and Expenses by Function 12 57 Internal Services Funds:

Combining Balance Sheet 13 60 Combining Statement of Revenues, Expenses and Changes in Retained Earnings 14 61 Combining Statement of Changes in Financial Position 15 62 Agency Funds:

Combining Balance Sheet and Statement of Changes in Assets and Liabilities 16 64 General Fixed Assets Account Group:

Schedule of General Fixed Assets -

By Sources A

66 Schedule of General Fixed Assets -By Function and Activity B

67 Schedule of Changes in General Fixed Assets C

68 General Long-Term Obligations Account Group:

Combining Statement of General Long-Term Obligations 0

69 STATISTICAL SECTION Table General Governmental Expenditures by Function -

Last Ten Fiscal Years 1

72 General Revenues by Sources -Last Ten Fiscal Years 2

72 Tax Revenue by Sources -

Last Ten Fiscal Years 3

73 Property Tax Levies and Collections -

Last Ten Fiscal Years 4

73 Assessed Value of Taxable Property -

Last Ten Fiscal Years 5

73 Property Tax Rates -All Overlapping Governments -Last Ten Fiscal Years 6

74

CITY OF RIVERSIDE COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED JUNE 30, 1987 TABLE OF CONTENTS Rage STATISTICAL SECTION (Continued)

Computation of Direct and Overlapping General Obligation Debt 7

74 Computation of Legal Debt Margin for City General Obligation Bonds 8

75 Ratio of Net General Obligation Bonded Debt to Assessed Value and Bonded Bonded Debt per Capita Last Ten Fiscal Years 9

75 Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt to General Expenditures -10 76 Last Ten Fiscal Years 07 Schedule of Revenue Bond Coverage - Last Ten Fiscal Years 11 77 Special Assessment Collections - Last Ten Fiscal Years 12 78 Salaries and Surety Bonds of Principal Officers 13 78 Property Market and Assessed Values -

Last Ten Fiscal Years 14 78 Principal Tax Payers 15 78 Schedule of Insurance in Force 16 79 Miscellaneous Statistical Data 17 80 Demographic Statistics -

Last Ten Fiscal Years 18 82 Construction, Bank Deposits, and Property Value Last Ten Fiscal Years 19 82

INTRODUCTORY SECTION

CITY OFF&

CITY HALL 3900 Main Street Riverside. California 92522 714/787-7553 Office of the City Manager December 11, 1987 Honorable Mayor and City Council City of Riverside Riverside, California CITY MANAGER'S COMMENTS In accordance with the City Charter, we hereby transmit the Comprehensive Annual Financial Report of the City of Riverside, including the opinion of the certified public accountant selected by the City Council to perform the annual audit for the fiscal year ended June 30, 1987.

This report has been prepared following the guidelines recommended by the Government Finance Officers Association of the United States and Canada.

The accompanying report consists of three parts:

1) Introductory section, including the Finance Director's and City Manager's letter of transmittal.

Page i through x.

2) Financial section, including the financial statements and supplemental data of the government accompanied by our independent auditor's opinion. Pages 1 through 69.

3) Statistical section, including a number of tables of unaudited data depicting the financial history of the government for the past ten years, information on overlapping governments, and demographic and other miscellaneous information. Pages 71 through 82.

As evidenced by the report, the City of Riverside concluded the fiscal year ended June 30, 1987, in a sound financial condition.

However, the City's continued fiscal well-being remains dependent on the general economy, and State and Federal legislative actions.

The Mayor, City Council and City staff have asserted an active and aggressive posture to seek out new development. The City's sphere of influence has been expanded in neighboring unincorporated areas to allow for possible future annexations which may ultimately double the physical size of the city.

With these efforts we will be in a position to handle the dynamic growth and development projected for the Riverside area in a planned, orderly fashion. The increased economic base will strengthen our financial position, which will lessen the impact of contemplated reductions in State and Federal funding to local government.

The general up trend in the local economy during the past year and early fall supports the budgeted projections for sales taxes and similar revenues; however, the economy must be watched closely, as the projected general fund balance presents a small percentage of expected revenues. Upcoming events for the City include the following:

(a) A new on-line computer system has been phased into operation.

(b) The reporting entity City of Riverside Redevelopment Agency has become a City department.

(c)

The Riverside Municipal Improvement Corporation will sell $17,600,000 of Certificates of Participation on October 1, 1987.

(d) The City will sell $60,000,000 Sewer Revenue Bonds on August 1, 1987; $12,000,000 Refunding and $48,000,000 Construction.

(e) A growth control proposition, which might slow down growth, was passed by the voters in November 1987.

(f) The retirement of the Finance Director, December 30, 1987.

I will continue to keep you informed of our ongoing financial condition and alert you to any problems that may arise.

The future years will present a challenge to find new methods of financing the needs of the community.

The preparation of this report could not have been accomplished without the dedicated effort of the Finance Department. The City of Riverside has maintained a high quality annual financial report by the continual effort of the Finance Department in reviewing and upgrading the accounting and financial reporting systems.

Their efforts over the past years in presenting creative financing proposals have also improved the City's financial stability.

The Comprehensive Annual Financial Report of the City of Riverside, California for the fiscal year ended June 30, 1987, is submitted herewith. In accordance with the City Charter, this report was prepared by the City's Finance Department for submission by the City Manager to the City Council.

We believe this comprehensive report, including the accompanying notes, is accurate in all material aspects, that it is presented in a manner which fairly presents the financial position and results of operations of the City as measured by the activities of all the various funds, and that all disclosures necessary to enable the reader to gain the maximum understanding of the City's financial position have been included.

FINANCE DIRECTOR/CONTROLLER'S COMMENTS ACCOUNTING REPORT This report has been prepared in accordance with generally accepted accounting principles and is presented to conform with pronouncements issued by the Governmental Accounting Standards Board (G.A.S.B.),

The Single Audit Act of 1984 and OMB Circular A-128.

This comprehensive annual financial report covers all funds and account groups of the City. It includes appropriate combined and combining statements with accompanying notes, schedules and statistical tables deemed necessary to give an accurate financial status of this City while complying with all legal provisions and determining fairly with full disclosure the financial position and results of operations of the City for the fiscal year ending June 30, 1987.

ACCOUNTING SYSTEM AND BUDGETARY CONTROL The City maintains the General, Special Revenue, Debt Service and Capital Projects Funds on the modified accrual basis of accounting, with revenues being recorded when measurable, available and determinable; and expenses being recorded when services or goods are received and the liabilities are incurred.

All other funds are maintained on the accrual basis of accounting.

The City's accounting system includes internal control procedures which provide reasonable assurance that the City's assets are safeguarded against loss from unauthorized use or disposition, and that adequate records are maintained for preparing financial statements, and for maintaining accountability for assets. The concept of reasonable assurance recognizes that the cost of control cannot exceed the benefits derived and the evaluation of costs and benefits derived requires estimates and judgements by management.

We believe that the City's internal control procedures adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions.

Budgetary control is maintained at the subfunction level by the encumbrance of estimated purchase amounts prior to the release of purchase orders to vendors. Purchase orders which result in an overrun of subfunction balances are not released until additional appropriations are made available. Open encumbrances are reported as reservations of fund balance at June 30, 1987.

111

THE REPORTING ENTITY AND ITS SERVICES The City of Riverside, in conformance with G.A.S.B., adopted The National Council on Governmental Accounting (N.C.G.A.)

Statement 3, definition of "Reporting Entity" dated June 1981, and has added to its comprehensive financial report the Riverside Redevelopment Agency,

Riverside Airport Lease Company, Riverside Parking Authority, Riverside Civic Center Authority and Riverside Municipal Improvement Corporation.

The activity of the Riverside Industrial Development Authority and other Mortgage Revenue Bonds has also been added to the notes.

GENERAL GOVERNMENTAL FUNCTIONS Revenues for General, Special Revenue, Debt Service and Capital Projects Funds totaled $99,968,489; a decrease of 2.18% over 1986.

General property taxes produced 12.83% of general revenue compared to 10.35% last year. The amount of revenue from various sources and the increase or decrease over last year are shown in the following table (in thousands of dollars):

Percent Increase (Decrease)

Source Amount Of Total Over 1986 Property taxes 12,824 12.83%

2,253 Other taxes 31,289 31.30 2,328 Special assessment levied 1,902 1.90 1,730 Licenses and permits 5,957 5.96 (418)

Fines and forfeitures 1,460 1.46 (169)

Use of money and property 13,045 13.05 1,086 Intergovernmental revenue 20,251 20.25 (4,187)

Charges for services 3,478 3.48 280 Utility contributions 7,815 7.82 610 Miscellaneous revenues 1,947

_195 (5.740)

TOTAL (1>

99,968 100.00%

(2,227)

Other financial sources not included.

The City's revenues decreased $2,227,168.

This decrease can be attributed to the discontinuation of revenue sharing and the decrease of operating grants in intergovernmental revenues and the decrease of miscellaneous revenues.

All revenue sources increased except Licenses and Permits, Fines and Forfeitures, Intergovernmental Revenue, and Miscellaneous Revenue.

The decrease of $418,182 in Licenses and Permits was the result of slow down in building activity. Property taxes increased by $2,252,480 due primarily to Special Supplemental Property Tax receipts.

The $2,328,573 increase in Other Taxes was primarily the result of increased Sales and Use Taxes being received, a result of an improved economy. Use of money revenue increased by $1,085,538 due to the other increases in revenues providing funds for short term investment.

Intergovernmental revenue increased in the following areas:

Library, $53,690 and Housing and Community Development $360,489.

The City of Riverside's revenues followed a normal growth pattern for 1987.

Assessed Valuations of $5.06 billion represents an increase of 13.01% over the preceding year. The assessed value at July 1, 1987, relating to the 1987-88 fiscal year, is $5.468 billion, an increase of 8.0% over the assessed value at July 1, 1986.

Property Tax Collections of $12,823,629 consists of $225,642 of general obligation bonded debt service, for which the City had a tax rate of

$.004; $7,443,744, which is the City's share of the $1.00 maximum tax rate set by state law; and $5,154,243 of tax allocation received by the Riverside Redevelopment Agency. Property tax collections and distributions are made by the County of Riverside.

Expenditures for General, Special Revenue, Debt Service and Capital Projects funds totaled $116,356,693; a decrease of

.60% over 1985-86.

The increases and decreases in levels of expenditures for major functions of the City over the preceding year are shown in the following table (in thousands of dollars):

iv

Increase Total Percentage (Decrease)

Function Expenditures Of Total Over 1986 General Governmental 31,409 26.99%

(9,948)

Public safety 37,460 32.19 2,531 Highways and streets 15,541 13.36 1,111 Culture and recreation 19,211 16.51 2,133 Debt service 12,736 1025 3,467 TOTAL 116,357 100.00%

(706)

Other financial uses not included.

The overall general governmental expenditures for the City decreased $706,094 over the prior year. This decrease can be attributed to less spending on capital outlay of $2,208,530. Lease payments have been combined into general government and culture and recreation functions to provide proper recording of expenditures to function. Public safety increased $3,104,506 in general expenses due to salary increases and increased operating expenses.

The undesignated fund balances in major operating funds were maintained at adequate levels. The undesignated fund balance in the General Fund of $5,430,033 was down $2,880,519 from last year. Special Revenue Fund undesignated fund balance of $1,677,176 was up $215,983 from last year, and the Capital Projects Fund undesignated fund balance of $6,873,174 was up $3,115,547 from the preceding year.

Debt Service Fund had a reserve of $29,820,716 which was up $3,754,114 from last year.

DEBT ADMINISTRATION The June 30,

1987, ratio of net general obligation bonded debt to assessed value and bonded debt per capita are useful indicators of the City's debt position to municipal management investors and is reflected as follows:

Outstanding Ratio of Debt Bonded To Assessed Debt Per Debt Value Capita Net direct bonded debt

$ 1,095,000

.022%

5.50 Overlapping debt 278.396,316 5,500 1,398.83 Net direct & overlapping debt

$279,491,316 5.522%

1,404.33 Outstanding general obligation bonds at June 30, 1987, totaled $1,095,000.

During the past year $185,000 of general obligation bonds were retired.

The City does not have any unissued general obligation bonds as of June 30, 1987. The City's current Moody rating for general obligation bonds is Aa.

CASH MANAGEMENT Cash temporarily idle during the year was invested in time deposits ranging from 3 days to 9 years to maturity, federal agency securities ranging from 19 months to 7 years to maturity, commercial paper of 38 to 59 months to maturity, and medium term notes of 5 to 7 years to maturity. During the year, the City's cash resources were divided between deposits and investments as follows:

in demand deposits 6.1%, in bank time deposits 53.1%, in federal agencies 33.1%, in commercial paper.1%, and in medium term notes 6.7%. The average yield on cash available for investment during the year was 10.85%,

and the amount of interest received was $18,753,599.

A comparison of temporarily idle cash funds invested during the past four years is shown in the following table.

V

Cash on deposit

$172,803,294

$133,227,342

$ 99,937,539

$ 92,378,586 Cash invested ("

173,507,771 134,355,586 101,025,424 93,177,168 Percentage invested 100.4%

100.9%

101.1%

100.4%

Interest income

$ 18,753,599

$ 15,872,788

$ 10,171,568

$ 10,594,119 Average yield on cash available for investment 10.85%

11.91%

10.18%

11.47%

(')Average daily balance CAPITAL PROJECTS FUNDS The Riverside Redevelopment Agency Fund is used to account for all improvements made in specific project areas of the City of Riverside with funds derived from the activities of the Riverside Redevelopment Agency, a reporting entity. The City does not capitalize Redevelopment projects. Capital Outlay, Storm Drain, and Transportation Funds are used to account for street and highway expenditures.

It is not the policy of the City to capitalize street related projects.

A report of street expenditures is required to be filed with the State Controller's Office annually.

A Special Capital Improvements Fund is used for park capital improvements.

The City records the prior years' park capital project expenditures as increases to general fixed assets.

The 1983 Certificates of Participation Fund and the Riverside Municipal Improvement Corporation, a reporting entity, are used to account for equipment, improvements, and land acquisition. These acquisitions are recorded as fixed assets in both general government and enterprise funds.

The following table shows a comparison of expenditures for each capital project fund for the last two fiscal years:

a1986-87 1985-86 Capital Outlay 1,771,657 1,216,090 Special Capital Improvements 1,337,682 1,202,786 Storm Drain 1,324,023 468,097 Parking Facilities Replacement 50,000 257,032 Transportation 1,359,381 1,783,031 Certificates of Participation (1983) 337,694

-0 1915 Assessment District 8,317,879 12,448,851 Mello-Roos Community facilities Act (1982) 132,292

-0 Riverside Municipal Improvement Corp.

4,251,933 3,105,800 Redevelopment Agency 6.919.950 13.246,258 TOTAL

$ 25,802,491

$ 33,727,945 GENERAL FIXED ASSETS The general fixed assets of the City are those assets used in the performance of general functions and exclude fixed assets of the enterprise fund.

They also exclude the capitalization of all street and highway related capital improvements.

As of June 30, 1987, the general fixed assets of the City totaled $87,563,859.

This amount represents the original cost of the assets and is considerably less than their present value. Depreciation of general fixed assets is not recognized in the City's accounting system.

Vi

ENTERPRISE FUNDS Electric Fund.

The City's Electric System experienced a 19.82% increase in gross income during the year. This increase can be attributed to $7,259,451 of increased consumer usage and power cost adjustment revenue of $7,924,944. Interest revenue increased $1,074,912 due to the increase in operating revenue providing funds for short term investment.

Revenues to meet bond covenants are adequate for the debt service coverage required levels. Retained earnings balances are also at adequate levels to provide financial stability. Comparative data for the last two fiscal years is presented in the following table:

1986-87 1985-86 Gross income

$130,386,885

$108,820,377 Net income (loss) 15,415,916 (6,196,008)

Income available for debt service 39,153,429 18,073,183 Debt service requirements 12,653,778 13,213,347 Coverage (income available for debt service divided by annual debt service) 3.1 1.4 Matured bonds retired 1,650,000 1,300,000 Advance refunding bonds issued 121,025,000 Revenue bonds defeased 104,700,000 Debt Service reserves of $27,758,150 fully meet bond requirements. Capital additions to the Electric System totaling $10,354,523 were financed from current revenue and bond funds. The City's current Moody rating for Electric Revenue Bonds is Aa.

Water Fund.

The City's Water System experienced an increase of 9.02% in gross income during the year.

This increase in income resulted from increased interest income generated through bond funds. Comparative data for the last two fiscal years is presented in the following table:

1986-87 1985-86 Gross income

$ 20,095,472

$ 18,433,607 Net income (loss) 2,083,812 2,081,631 Income available for debt service 9,049,381 8,414,721 Debt service requirements 3,971,198 3,093,765 Coverage (income available for debt service divided by annual debt service) 2.3 2.7 Matured bonds retired 1,180,000 1,145,000 Debt Service reserves of $5,000,373 fully meet bond requirements. The City's current Moody rating for Water Revenue Bonds is A].

The Water System capital addition of $7,694,663 during the year was financed from current revenues and bond funds.

Airport Fund.

The gross income of the Airport from operations increased 9.42% from the previous year. Gross income increased as a result of $587,030 increase in operating grant revenues.

Comparative data for the last two fiscal years is presented in the following table:

1986-87 1985-86 Gross income 410,617 375,281 Net income (loss)

(44,474) 150,793 Contribution from general fund 362,884 369,101 Federal (FAA) and State (CAAP) Grants (for construction purposes) 870,209 173,638 Refuse Fund.

The gross income of the City's Refuse Collection and Disposal System increased 11.96% over the previous year.

The increase in gross income was the result of overall rate increases initiated in March 1986.

Comparative data for the last two fiscal years is presented in the following table:

Vii

Gross income

$ 10,527,271

$ 9,442,495 Net income (loss) 334,751 328,282 Sewer Fund. The gross income of the City's Sewage System decreased 2.03% over the previous year.

The decrease results from a 18.22%

decrease in connection fees to service the ever-expanding City and a 4.07% decrease in interest income.

Charges for service increased 3.67% due to consumer usage. Comparative data for the last two fiscal years is presented in the following table:

1986-87 1985-86 Gross income

$ 14,230,926

$ 14,525,533 Net income (loss) 5,686,929 6,777,778 Income available for debt service 7,950,682 9,015,018 Debt service requirements 1,366,065 1,360,638 Coverage (income available for debt service divided by annual debt service) 5.8 6.6 Matured bonds retired 465,000 445,000 Bonds refunded

-0 Debt Service reserves of $1,778,337 fully meet bond requirements.

The City's current Moody rating for Sewer Revenue Bonds is Al.

Transportation Fund is being presented as an enterprise fund in this financial report in accordance with the State Controller's Uniform System of Accounts for Transit Operators. The gross income of the City's Senior Citizen Transportation System decreased 15.00%

over the previous year due to increased operating expenses.

Comparative data for the last two fiscal years is presented in the following table.

1986-$

1,55,53 Gross income 631,410 742,810 Net income (loss)

(79,595) 100,483 INDEPENDENT AUDIT The City Charter requires an annual audit of the books of account, financial records, and transactions of all administrative departments of the City by independent certified public accountants selected by the City Council.

This requirement has been complied with and the auditor's opinion has been included in this report.

ACKNOWLEDGEMENTS The preparation of this report could not have been accomplished without the efficient and dedicated services of the entire staff of the Finance Department.

Accounting Manager William R. Hansen and a fine staff of capable accountants led by Principal Accountant George Swartz made this financial presentation possible. We would also like to thank the City Manager and members of the City Council for their interest and support in planning and conducting the financial operations of the City in a responsible and progressive manner.

Viii

Respectfully submitted, Douglas G. Weiford City Manager H. E. Brewer Finance Director ix

City of Riverside MAYOR CITY COUNCIL CTVCLRK CalvMANAGER CITYATTORNEY COMMUNITY ELATIONtSOFFICE ASISTANSTANT CT ER CMUNT CIT MANAEER DIEVIELOPMENT AIRPORT AST LTDPMN DEPARTMENT D ULOIIO MAINTENANCE

UFR FIEL ICE OPERATIONS

EPA PRGRAMSOLOIRTot C

CMMUNICATIONS SPRK OUIPMNT AOIEN7ANC*

DISASTER PREPAREmns

PERSONNEL e PROPERTY SERVICES

11.

T.-I,*

CURRENT PLANNING

LIBRARC ENGINEERIASCGI

WATEitR PARKS^ea

ENERGY SERVICES TRAFFIC ENGINEERING 0~~ ~

~

SEDR6kiE EWERkAGE SYSTEM 0 READERCA SERVICES P SOLID WASTE DISPOSAL B~

TECIMCE SERVICES DEPARTMENT ANALYSIS

ACCOUNTIMS B REVENUE LEGISLATIVE OFFICIALS 0 PAW PRO oESNES DEPARTMENT HEADS Ab Brown.......................................

..Mayor Douglas G. Weiford....................

City Manager*

Ronald Loveridge......

Councilman -Ward 1 Alice A. Hare............

City Clerk*

-Jack Clarke......

Councilman -

Ward 2 John H. Woodhead.

City Attorney*

Jean Mansfield...

.... Councilwoman -

Ward 3 Harold E. Brewer.

Finance Director/City Controller, City Treasurer Robert E. Bowers.

.. Councilman -

Ward 4 Merle G. Gardner.

.Planning Director George Osborne..

.. Councilman -

Ward 5 L. L. Richardson.

.Chief of Police Sam Digati........

Councilman -

Ward 6 Doug Greene............

Fire Chief Terry Frizzel

... Councilman -

Ward 7 William G. Dougal..

.Historic Resources Director Bill Carnahan

.Public Utilities Director Linda Woods...

. Library Director Dee Bachman...

.. Park and Recreation Director Murray Bywater..

. Airport Director Lawrence E. Paulsen...

... Assistant City Manager Robert C. Wales..

. Assistant City Manager

Appointed by City Council x

FINANCIAL SECTION

THOMAS, BYRNE & SMITH AN ACCOUNTANCY CORPORATION CERTIFIED PUBLIC ACCOUNTANTS Donald L. Thomas. C.P.A.

December 11, 1987 4362 orange Street D. Richard Byrne. C.P.A.

Rierside, California 92501 V. C. Smith. Jr., C.P.A.

(714) 682-4851 Allen C. Harrison, C.P.A.

The City Council City of Riverside Riverside, California We have examined the general purpose financial statements of the City of Riverside, California as of and for the year ended June 30, 1987, as listed in the table of contents. Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.

We did not examine the financial statements of the Redevelopment Agency of the City of Riverside, which represents 50 percent and 4 percent respectively of the assets and revenues of the Special Revenue Funds, 18 percent and 39 percent respectively of the assets and revenues of the Debt Service Funds, 20 percent and 5 percent respectively of tile assets and revenues of the Capital Projects Funds, less than 1 percent of General Fixed Assets and 6 percent of the liabilities of the General Long Term Obligation Account Group.

These financial statements were audited by other auditors whose reports thereon have been furnished to us, and our opinion expressed herein, insofar as it relates to the amounts included for the Redevelopment Agency of the City of Riverside, is based solely on the reports of the other auditors.

In our opinion, based on our examination and the reports of other auditors, the general purpose financial statements referred to above present fairly the financial position of the City of Riverside, California at June 30,

1987, and the results of its operations and changes in financial position of its proprietary fund types for the year then ended, in accordance with generally accepted accounting principles applied on a basis consistent with that of the preceding year.

Our examination was made for the purpose of forming an opinion on the general purpose financial statements taken as a whole.

The combining, individual fund, and individual account group financial statements and schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the City of Riverside, California. Such information has been subjected to the auditing procedures applied in the examination of the general purpose financial statements and, in our opinion, is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole.

The scope of our examination did not include statistical information listed in the table of contents and we do not express an opinion concerning it.

THOMAS, BYRNE & SMITH An Aco tancy Corporation By:

D. Richard Byrne

City of Riverside COMBINED FINANCIAL STATEMENTS Descriptions of the funds and account groups shown on the following financial statements are as follows:

Governmental Fund Types

1. General Fund - to account for all unrestricted resources except those required to be accounted for in another fund.

2. Special Revenue Funds - to account for the proceeds of specific revenue sources that are restricted by law or administrative action to expenditures for specified purposes.

3. Debt Service Funds - to account for the accumulation of resources for the payment of interest and principal on general long-term debt.

4. Capital Projects Funds - to account for financial resources segregated for the acquisition of major capital facilities.

Proprietary Fund Types

5. Enterprise Funds - to account for operations that are financed and operated in a manner similar to private business enterprises -

where the stated intent is that the costs (expenses, including depreciation) of goods or services to the general public on a continuing basis be financed or recovered primarily through user charges -

or where periodic determination of revenues earned, expenses incurred, and/or net income is deemed appropriate for a capital maintenance, public policy, management control, accountability, or other purposes.

t

6. Internal Services Funds-to account for the financing of goods or services provided by one department to other departments on a cost reimbursement basis.

Fiduciary Fund Types -

to account for assets held by the City of Riverside as an agent for individuals, private organizations, and/or other governmental units.

The City of Riverside has no expendable or nonexpendable trust funds.

Account Groups -

are used to establish accounting control and accountability for the city's general fixed assets, the unmatured principal of the general long-term obligations and long-term lease obligations.

3

City of Riverside txhbxt I COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS June 30, 1987 Fiduciary Total Governmental fund Types Proprietary Fund Types Fund Types Account Groups (Memorandum Only)

General General Special Debt Capital Internal Fixed Long-Term June 30, June 30, Assets and Other Debits General Revenue Service Projects Enterprise Services Agency Assets Obligations 1987 1986 Cash and investments (Notes 1 & 3)

$16,212,356

$4,821,524 18,221,141

$36,500,365 1124,056,836 S6,609.900 15,206,251 i0

$0 $201,628,371 1168,075,389 Cash and investments at fiscal agent (Notes 1, 3 & 4) 0 86,628 20,925,632 6,280,692 167,847 0

14,784,419 0

0 42,245,218 62,768,388 Receivables, net (Note 5) 2,329,702 2,268,585 559,222 6,201,044 22,783,161 237,275 0

0 0

36,378,989 29,896,291 Due from other governments (Note 1) 1,446,166 307,496 0

1,594,093 779,440 0

0 0

0 4.127,195 6,000,220 Prepaid expenses 2,095,758 149,926 119,390 0

286,007 175 0

0 0

2,651,256 1,948,445 Deferred charges 0

0 0

15,993 1,631,274 0

0 0

0 1,647,267 1,551,524 Advances to other funds (Note 15) 0 121,401 0

525,550 755,163 1,388,404 0

0 0

2,790,518 2,550,628 Inventory (Note 1) 0 0

0 0

0 2,431.360 0

0 0

2,431,360 2,776,157 Investments-land and improvements held for disposal 0

1,113,950 0

2,907,971 0

0 0

4,021,924 2,153,345 Property and plant, net (Notes 1 & 7) 0 0

0 0

285,927,249 205,723 0

0 0

286,132,972 277,705,325 General fixed assets (Notes 1 & 6) 0 0

0 0

0 87,563,859 0

87,563,859 81,271,595 Work-in-progress (Note 8) 0 0

0 0

32,621,894 0

0 0

0 32,621,894 20,791,735 Amount available in debt service funds (Note 13) 0 0

0 0

29,820,716 29,820,716 26,066,602 Amount to be provided for retirement of general long-term debt 0

0 0

0 113,273,234 113,273,234 83,701,985 Total Assets and Other Debits 822,083,982 88,869,510 129,825,385 S54,025,711 1469,008,869

$10,872,837 119,990,670 187,563,859 1143,093,950 3845,334,773 $747,257,429 Liabilities and Fund Equity Liabilities:

Cash(deficit balance)(Note 3) so

$307,496 so

$536,833 s0 11,843,755 10 s0 S0

$2,688,084 12,427,051 Accounts payable 10,782,124 826,792 4,669 2,943,923 9,821,255 435,329 30,303 0

0 24,844,395 14,118,020 Accrued liabilities (Note 9) 570,589 112,062 0

256,404 780,040 16,549 19,960,367 0

0 21,696,011 18,554,728 Claims and judgements payable (Notes 18 12) 0 0

0 0

0 895,654 0

0 0

895,654 1,110,432 Rate stabilization account 0

0 0

0 26,501,234 0

0 0

0 26,501,234 34,484,717 Liability for compensated absences (Notes 1 6 13) 0 0

0 0

4,313,381 333,230 0

0 13,566,191 18,212,802 16,613,536 Advances from other funds (Note 15) 0 0

0 2,035,355 0

755,163 0

0 0

2,790,518 2,550,428 Long-term obligations payable (Notes 1 8 13) 0 0

0 0

206,324,948 20,204 0

0 129,527,759 335,872,911 306,941,513 Total Liabilities 11,352,713 1,246,350 4,669 5,772,515 247,740,858 4,299,884 19,990,670 0 143,093,950 433,501,609 396,800,425 Fund Equity:

Contributed capital 0

0 0

0 98,033,528 0

0 0

0 98,033,528 89,043,932 Investments in general fixed assets 0

0 0

87,563,859 0

87,563,859 81,271,595 Retained earnings:

Reserved (Note 13 6 17) 0 0

0 0

34,704,881 6,240,207 0

0 0

40,945,088 31,614,563 Unreserved 0

0 0

0 88,529,602 332,746 0

0 0

88,862,348 72,710,116 Fund balance:

Reserved (Note 17) 2,953,690 3,943,072 29,820,716 6,974,900 0

0 0

43,692,378 40,773,055 Unreserved:

Designated (Note 17) 2,347,546 2,002,912 0

34,405,122 0

0 0

38,755,580 21,556,900 Undesignated 5,430,033 1,677,176 0

6,873,174 0

0 0

13,980,383 13,488,843 Total Fund Equity 10,731,269 7,623,160 29,820,716 48,253,196 221,268,011 6,572,953 0

87,563,859 0

411,833,164 350,457,004 Total Liabilities and Fund Equity

$22,083,982 08,869,510 129,825,385 154,025,711 8469,008,869 510,872,837

$19,990,670

$87,563,859 1143,093,950 3845,334,773 1747,257,429 The accompdnying notes are an integral part of this statement.

City of Riverside Exhibit 2 COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES For the Fiscal Year Ended June 30, 1987 Total (Memorandum Only)

Year Ended Special Debt Capital June 30, June 30, General Revenue Service ProJects 1987 1986 Revenues:

Property taxes

$5,975,343 11,491,377 $5,356,909 S0

$12,823,629 310,571,149 Other taxes 31,289,604 0

0 0

31,289,604 28,961,031 Special assessments 0

0 1,902,548 0

1,902,548 171,966 Licenses and permits 3,550,503 0

0 2,406,273 5,956,776 6,374,958 Fines and forfeits 423,203 1,036,677 0

0 1,459,880 1,628,881 Use of money and property:

3,281,204 546,967 6,758,305 2,460,588 13,045,064 11,959,526 Intergovernmental revenues 7,593,553 10,849,126 61,103 1,767,620 20,251,402 24,438,137 Charges for service 3,390,441 87,250 0

0 3,477,691 3,197,756 Utility contributions 7,815,292 0

0 0

7,815,292 7,204,742 Miscellaneous revenues 316,531 113,431 0

1,516,641 1,946,603 7,687,511 Total Revenues 63,635,674 14,122,828 14,058,865 8,151,122 99,968,489 102,195,657 Expenditures:

Current:

General government 8,312,302 389,125 396,443 1,102,666 10,198,534 17,483,155 Public safety 32,760,710 661,028 0

0 33,421,738 30,317,232 Highways and streets 8,956,215 1,766,677 0

185,217 10,908,109 10,349,986 Culture and recreation 10,006,807 6,998,429 0

0 17,005,236 15,347,821 Capital outlay 1,889,939 5,682,934 0

24,514,610 32,087,483 34,296,013 Debt service:

Principal retirement 0

0 4,717,958 0

4,717,958 3,068,730 Interest 0

0 8,017,635 0

8,017,635 6,199,850 Total Expenditures 61,925,973 15,498,193 13,130,036 25,802,691 116,356,693 117,062,787 Excess Revenues Over(Under) Expenditures 1,709,701 (1,375,365) 928,829 (17,651,369) (16,388,204) (14,867,130)

Other Financing Sources(Uses):

Bond sale and long term debt proceeds 0

0 0

37,356,228 37,356,228 31,720,000 Operating transfer in 6,401 1,057,438 2,825,285 1,636,604 5,525,528 8,625,300 Operating transfer out (1,627,450) 0 0

(4,654,559)

(5,882,009) (8,994,401)

Total Other Financing Sources(Uses)

(1,421,049) 1,057,638 2,825,285 34,538,073 36,999,747 31,350,899 Excess of Revenues and Other Sources Over(Under)

Expenditures and Other Uses 288,652 (317,927) 3,756,114 16,886,706 20,611,563 16,483,769 Fund Balances - Beginning of Year 10,442,617 7,961,087 26,066,602 31,366,492 75,816,798 53,221,521 Prior period adjustments 0

0 0

6,111,508 Fund Balances - Beginning of Year, restated 10,642,617 7,941,087 26,066,602 31,366,692 75,816,798 59,333,029 Fund Balances - End of Year

$10,731,269 $7,623,160 129,820,716 $68,253,196 896,428,341 175,816,798 The accompanying notes are an integral part of this statement.

I5

P VERS D MUN Ir!PAL A! RPORT 7I 6

City of Riverside Exhibit 3 COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL GENERAL, SPECIAL REVENUE, AND CAPITAL PROJECTS FUND TYPES For the Fiscal Year Ended June 30, 1987 General Special Revenue Capital ProJects Variance Variance Variance Favorabl e Favorable Favorable Budget Actuai (Un favorab le) Budget Actual (Unfavorable)

Budget Actual (Unfavorable)

Revenues:

venue Property taxes 15.450,000 15,975,343 1525,363 81,385,676 11,491,377 1105,901 t0 s0 so Other txs 32,025,000 31,289,606 (735,396) 0 0

0 0

Licenses ad Permits 3,243,800 3;550,503 306,703 000 23784 24623 9,6 Fines and forfeits 510,000 423,203 (86,797) 1,036,677 1,036,677 0

0 0

0 Use of money and property 1,433,900 3,281,204 1,845,304 500,211 544,967 44,756 1,474,472 2,460,588 986,116 Intergovernmental revenues 7,751,345 7,593,553 (160,792) 13,158,095 10,849,126 (2,308,969) 4,515,154 1,767,620 (2,767,534)

Charges for service 2,912,150 3,390,441 478,291 90,500 87,250 (3,250) 0 0

0 Utility contributions 7,815,292 7,815,292 0

0 0

Miscellaneous revenuea 293,789 316,531 22,742 111,575 113,43!

1,856 1,492,556 1,516,641 24,085 Total Revenues 61,460,276 63,635,674 2,195,398 16,282,534 14,122,828 (2,159,706) 9,789,986 8,151,122 (1,638,864)

Expenditures:

Current:

General government 11,820,463 8,312,302 3,508,161 410,597 389,125 21,472 1,102,664 1,102,664 0

Public safety 33,047,165 32,760,710 286,455 747,696 661,028 86,668 0

0 0

Highways and streets 10,051,352 8,956,215 1,095,137 1,756,677 1,766,677 (10,000) 179,751 185,217 (5,466)

Culture and recreation 10,485,417 10,006,807 478,610 7,827,315 6,998,429 828,886000 capital outlay 2,938,994 1,889,939 1,049,055 10,211,012 5,682,934 4,528,078 66,845;021 24,514,610 42,330,611 Total Expenditures 68,313,391 61,925,973 6,417,418 20,953,297 15,498,193 5,455,104 68,127,636 25,802,491 42,324,945 Excess Revenue Over(Under) Expenditures (6,903,115) 1,709,701 8,682,816 (4,670,763) (1,375,365) 3,295,398 (58,337,650) (17,651,369) 40,686,081 W-----

Other Financing Sources(Uses):

Bond sale and long term debt Proceeds 0

0 0

0 37,256,385 37,356,228 99,863 Operating transfer in 0

6,401 6,601 1,057,438 1,057,638 0

1,636,404 1,636,404 0

Operating transfer out (1,585,286)

(1,427,650) 157,836 0

0 0 (4,454,559)

(4,456,559) 0 Total Other Financing Sources(Uses)

(1,585,286)

(1,421,049) 164,237 1,057,638 1,057,438 0 36,638,230 34,538,073 99,863 Excess of Revenues and Other Sources Over(Under) Expenditures and Other Uses (8,488,401) 288,652 8,777,053 (3,613,325)

(317,927) 3,295,398 (23,899,220) 16,886,706 40,785,924 Fund Balances - Beginning of Year 10,462,617 10,442,617 0

7,941,087 7,941,087 0 31,366,492 31,366,492 0

Fund Balances -End of Year 81,954,216 810,731,269 18,777,053 16,327,762 17,623,160 13,295,398 87,667,272 848,253,196 860,785,924 The accompanying notes are an integral part of this statetent.

SeealSe~a Rvnu aptl rjet

City of Riverside Exhibit 4 COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS ALL PROPRIETARY FUND TYPES For the Fiscal Year Ended June 30, 1987 Total Proprietary fund Types (Memorandum Only)

Year Ended Internal Enterprise Services June 30, 1987 June 30, 1986 Operating Revenues:

Charges for service

$148,808,293 87,683,727 8156,492,020 1145,890,004 Rate stabilization account adjustment 7,924,944 0

7,924,964 (5.271,833)

Total Operating Revenues 156,733,237 7,683,727 164,416,964 140,618,171 Operating Expenses:

Personal services 13,541,665 1,519,727 15,061,392 13,360,943 Contractual services 7,522,031 352,243 7,874,274 7,863,206 Maintenance and operation 88,161,597 1,901,533 90,063,130 89,149,277 General operating expenses 8,444,155 528,046 8,972,201 7,451,381 Material and supplies 1,602,153 357,039 1,959,192 1,253,674 Insurance 346,635 2,380,764 2,727,399 2,582,832 Rent/lease Payments 29,468 0

29,468 19,956 Depreciation 10,870,688 26,728 10,897,416 10,243,218 Total Operating Expenses 130,518,392 7,066,080 137,584,472 131,924,487 Operating Incose(Loss) 26,214,845 617,647 26,832,492 8,693,684 Nonoperating Revenues(Expenses):

Operating grants 564,148 0

564,148 846,721 Interest revenue 12,799,498 693,543 13,493,041 11,660,016 Sundry 1,088,269 290,554 1,378,823 823,031 Rent 344,242 0

344,242 325.348 Gain/loss on retirement of assets 95,156 0

95,156 0

Connection fees 4,703,031 0

4,703,031 5,750,733 Interest expenses and fiscal charges (14,958,071) 0 (14,958,071)

(15,890,666)

General fund contributions (7,815,292) 0 (7,815,292)

(7,204,742)

Total Nonoperating Revenues(Expenses)

(3,179,019) 984,097 (2,194,922)

(3,689,559)

Income(Loss) Before Operating Transfers 23,035,826 1,601,744 24,637,570 5,004,125 Operating Transfers In(Out):

361,513 (5,032) 356,481 369,101 Net Incose(Loss) Before Extraordinary Items 23,397,339 1,596,712 24,994,051 5,373,226 Extraordinary loss on the issue of advance refunding bonds 0

0 0 (17,763,156)

Net Income(Loss) 23,397,339 1,596,712 24,994,051 (12,389,930)

Add depreciation on grant financed fixed assets charged to contributed capital 488,706 0

488,706 796,115 Total Increases(Decreases) in Retained Earnings 23,886,045 1,596,712 25,482,757 (11,593,8151 Retained Earnings Beginning of Year 99,348,438 4,976,241 104,324,679 115,918,494 Retained Earnings End of Year

$123,234,483

$6,572,953 8129,807,436 8104,324,679 The accompanying notes are an integral part of this statement.

8

City of Riverside Exhibit 5 COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION ALL PROPRIETARY FUND TYPES For the Fiscal Year Ended June 30, 1987 Total (Memorandum Only)

Year Ended Internal Enterprise Services June 30, 1987 June 30, 1986 Sources of Financial Resources:

Operations:

Net income before extraordinary items (Exhibit 4) 123,397,339 11,596,712 126,994,051 15,373,226 Expenses not requiring current outlay of financial resources:

Depreciation 10,870,688 26,728 10,897,416 10,243,218 Total Financial Resources From Operations 34,268,027 1,623,440 35,891,467 15,616,444 Increase in liability for compensated absences 360,801 14,756 375,557 361,631 Contributed capital and grants 9,478,301 0

9,478,301 9,737,653 Bond sale proceeds 0

0 0

153,425,000 Increase in long-term obligations 396,478 0

396,678 238,811 Total Sources of Financial Resources 44,503,607 1,638,196 46,141,803 179,379,539 Uses of Financial Resources:

Acquisition of fixed assets 31,0991188 56,034 31,155,222 18,034,563 Decrease in liability for compensated absences 0

9,257 9,257 0

Retirement of long-term obligations 3,159,223 27,080 3,186,303 107,618,038 Extraordinary loss 0

0 0

17,763,156 Total Uses of Financial Resources 34,258,411 92,371 34,350,782 143,415,757 Net Increase(0ecrease) in Working Capital

$10,265,196

$1,545,825 111,791,021 135,963,782 Component Elements of Net Increase(Decrease) in Working Capital:

Cash and investments 1739,129 1922,491 11,661,620 152,720,667 Cash and investments at fiscal agent 7,356 108,143 115,199 (5,263)

Receivables and others, net 2,344,352 174,979 2,519,331 2,112,505 Prepaid expenses (339,325)

(62)

(339,387)

(384,147)

Inventory 0

(346,797)

(344,797) 381,135 Deferred charges 94,780 0

94,780 1,120,064 Accounts payable (267,124)

(195,395)

(662,519) 643,099 Advances (to)from other funds 0

671,588 671,588 (755,163)

Accrued liabilities (258,916)

(5,900)

(264,816)

(206,073)

Rate stabilization account 7,924,946 0

7,924,964 (19,954,013)

Claims and Judgements payable 0

214,778 211,778 290,971 Net Increase(Decrease) in Working Capital 1l0,245,196 11,545,825 111,791,021

$35,963.782 The accompanying notes are an integral part of this statement.

9

City of Riverside NOTES TO FINANCIAL STATEMENTS The following notes are an integral part of this statement.

10

CITY OF RIVERSIDE NOTES TO FINANCIAL STATEMENTS JUNE 30, 1987 TABLE OF CONTENTS NOTES Page 1

Summary of Significant Accounting Policies 12 2

Property Tax Calendar 18 3

Cash and Investments 18 4

Restricted Assets, Cash and Investments 20 5

Other Accrued Revenue Receivables, Net 21 6

Changes in General Fixed Assets 21 7

Proprietary Fund Type Fixed Assets 21 8

Work in Progress 21 9

Other Accrued Liabilities 22 10 City Employees Retirement Plan 22 11 City of Riverside Deferred Compensation Plan 22 12 Self-Insurance Program 23 13 Long-Term Obligations 23 14 Special Assessment District Improvement Bonds 29 15 Interfund Advances Receivable and Payable 29 16 San Onofre Nuclear Generating Station Decommission Liability 29 17 Retained Earnings/Fund Balance Reserves and Designations 30 18 Segment Information for Enterprise Funds 31 19 Capitalized Leases 32 20 Litigation 32 21 Commitments 33 22 Deficit Fund Balances on Retained Earnings 35 23 Contingent Liabilities 35 24 Subsequent Events 35 11

City of Riverside NOTES TO FINANCIAL STATEMENTS Fiscal Year Ended June 30, 1987 Summary of Significant Accounting Policies The City of Riverside was incorporated October 11, 1883, as a Charter City.

The City operates under a Council-Manager form of Government.

The City provides the following services:

public safety (police, fire, disaster preparedness, and building inspection),

highways and streets, sewage, refuse, social services, culture-recreation, public improvements, planning and zoning, electric, water, senior citizens transportation, airport, the Redevelopment Agency and general administrative services.

The accounting policies of the City of Riverside conform to generally accepted accounting principles as applicable to governments.

The more significant accounting policies reflected in the Financial Statements are summarized as follows:

A.

Reporting Entity The Financial Statements of the City of Riverside include the financial activity of the City, the Riverside Redevelopment Agency, the Riverside Parking Authority, the Riverside Airport Lease Company, the Riverside Municipal Improvement Corporation and the City sponsored portion of the Riverside Civic Center Authority. Their financial operations are closely related and the City Council has a continuing oversight responsibility over each entity.

The oversight responsibility is determined on the basis of budget adoption, taxing authority, funding and appointment of the governing board.

RIVERSIDE REDEVELOPMENT AGENCY The Riverside Redevelopment Agency was activated in February 1971 by the City of Riverside. The primary purpose of the Agency is to eliminate blighted areas by encouraging development of residential, commercial, industrial, recreational and public facilities.

The City's Councilmembers appoint the Agency directors, designate management, and have full accountability for the Agency's fiscal matters.

The Agency's financial data and transactions are included with the debt service fund, capital projects fund, general fixed assets account group, and general long-term obligations account group.

RIVERSIDE PARKING AUTHORITY Riverside Parking Authority of the City of Riverside, a separate public entity, was activated by resolution adopted by the Riverside City Council on August 1, 1972, pursuant to the Parking Law of 1949, for the purpose of providing parking facilities throughout the City.

A seven-member board, composed of the Riverside City Council, is the governing body of the Authority.

Ex-officio members of the Authority include the Mayor and Mayor Pro-Tempore, City Clerk, City Treasurer and City Attorney.

The Authority's financial data and transactions are included with the debt service fund, general fixed assets account group and general long-term obligations account group.

RIVERSIDE AIRPORT LEASE COMPANY The Riverside Airport Lease Company by Resolution 10704 was duly incorporated in accordance with the General Nonprofit Corporation Law of the State of California on May 2, 1966, as a nonstock nonprofit corporation organized for the purpose of rendering assistance to the City of Riverside in the construction of an Airport Terminal Building; and to lease back to the City the site as improved by the construction of the same building to cover debt service requirements and to turn the site back to the City at the end of the Lease Agreement.

The Company's financial data and transactions are included with the Airport fund.

The Board of Directors consist of three non-paid members.

12

1.A. (Continued)

RIVERSIDE MUNICIPAL IMPROVEMENT CORPORATION The City of Riverside Municipal Improvements Corporation was created in 1978 pursuant to the General Nonprofit Corporation Law of the State of California then in effect. Although certain matters remain governed by that law, the Corporation is at present primarily governed by the provisions of the Nonprofit Public Benefit Corporation Law of the State of California. The Corporation was organized for the specific and primary purpose of providing financial assistance to the City by acquiring, constructing, improving, leasing and/or developing land, property and appurtenances for and on behalf of the City. The Corporation was formed at the request of the City.

The Directors receive no compensation.

The Corporation's financial data and transactions are included with the debt service fund, capital projects fund, general fixed assets account group and general long-term obligations account group.

RIVERSIDE CIVIC CENTER AUTHORITY The Riverside Civic Center Authority was created by a Joint Exercise of Powers Agreement between Riverside County and the City of Riverside, dated May 18, 1971 (the "Agreement"). The Agreement was made under provisions of Article 1, Chapter 5, Division 7, Title 1

of the Government Code of the State of California, commencing with Section 6500.

The Authority exists and acts as a separate public entity and is governed by a five-member commission, three members appointed by the City and two by the County.

Upon termination of the Agreement, all property of the Authority will automatically vest in the respective parties which earlier transferred, conveyed or leased such property to the Authority.

The City's portion of the Authority financial data and transactions are included with the debt service fund, general fixed assets account group and general long-term obligations account group.

INTERMOUNTAIN POWER AGENCY (IPA)

Riverside's share of Intermountain Power Agency (IPA) at June 30, 1987, was 7.617%.

The financial transactions of IPA are not included in the City's financial statements due to the City's involvement being a take or pay contract.

A condensed balance sheet of IPA at June 30, 1987, with Riverside's percentage is shown below (in thousands of dollars):

Total Riverside Assets:

Current Assets 169,006 12,873 Restricted Assets 2,908,614 221,549 Deferred Charges 962,906 73,345 Utility Plant 2,622,856 199,783 Total Assets

&L6638 R

507 550 Liabilities and Fund Equity:

Current Liabilities 81,182 6,184 Liabilities from Restricted Assets 1,666,662 126,950 Advances from SCPPA 20,981 1,598 Bonds Payable 4,892,596 372,669 Accumulated Net Revenue 1,961 149 Total Liabilities and Fund Equity 6 663 3R2 507 550 13

l.A. (Continued)

SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY (SCPPA)

Riverside's share of Southern California Public Power Authority (SCPPA) varies by project. The financial transactions of SCPPA are not included in the City's financial statements due to the City's involvement being a take or pay contract.

A condensed balance sheet of SCPPA Projects at June 30, 1987, with Riverside's percentage is shown below (in thousands of dollars):

Palo Verde Southern Transmission Hoover Uprating Total Riverside Total Riverside Total Riverside 5,400%

10,164%

31.910%

Assets:

Accounts Receivable 2,859 154 2,662 271 66 21 Deferred Billings 26,069 1,408 58,241 5,920 Deferred Costs 220,045 11,882 167,084 16,982 1,212 387 Special Funds 224,520 12,124 180,395 18,335 31,464 10,040 Utility Plant 617,566 33,349 633,013 64,339 3,064 97 Total Assets

$-291-159

$=== A17

$ 1 041 935 L 105.BAZ A2 I__ 426 Liabilities and Fund Equity:

Current Liabilities 51,724 2,793 41,839 4,253 1,513 483 Long-Term Debt 1.039.335 56,124 999,556 101,594 34,293 10,943 Total Liabilities and Fund Equity S106LLJ91 059A 17 ti091 35 88A6 1

1=1=426 OTHER GOVERNMENTAL AGENCIES Other governmental agencies providing various levels of service to the City include the State of California, County of Riverside, Riverside Community College, Riverside Alvord, Moreno Valley and Jurupa Unified School Districts, Flood Zone No. 1, Metropolitan Water District, Western Municipal Water District, Edgemont Sewer District, Home Gardens Sewer District and Riverside Transit Authority.

Each of the above agencies either has an independently elected governing board or is dependent on an independently elected governing board other than the City of Riverside elected Councilmembers.

Therefore, financial data and transactions of these agencies are not included within the scope of this financial report.

Not included in the accompanying financial statements are Mortgage Revenue Bonds outstanding of approximately $53,705,000, Hospital Revenue Bonds of $157,550,000, and Industrial Development Revenue Bonds of $4,360,000.

The Bonds are special obligations payable solely from payments made on and secured by a pledge of the acquired mortgage loans and certain other reserve funds and other monies in connection therewith, all pledged under the resolution authorizing the issuance of the Bonds.

The Bonds are not payable from any other revenues or assets of the City or Redevelopment Agency. Neither the faith and credit nor the taxing power of the City, the State of California or any political subdivision thereof or the Redevelopment Agency is pledged to the payment of the principal of and interest on the Bonds.

B.

Basis of Presentation -

Fund Accounting The accounts of the City are organized on the basis of funds and account groups, each of which is considered a separate accounting entity.

The operations of each fund are accounted for with a separate set of self-balancing accounts that comprises its assets, liabilities, fund equity, revenues, and expenditures, or expenses, as appropriate.

Government resources are allocated and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds are grouped, in the financial statements in this report, into seven generic fund types and three broad fund categories as follows:

14

I.B. (Continued)

GOVERNMENTAL FUNDS General Fund -

The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund.

Special Revenue Funds -

The Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than major capital projects) that are legally restricted to expenditures for specified purposes.

Debt Service Funds The Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general long-term obligations principal, interest, and related costs.

Capital Projects Funds -

The Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by proprietary fund).

PROPRIETARY FUNDS Enterprise Funds -

The Enterprise Funds are used to account for operations (a) that are financed and operated in a manner similar to private business enterprises --

where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or (b) where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes.

Internal Services Funds -

The Internal Services Funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies of the City, or to other governments, on a cost-reimbursement basis.

FIDUCIARY FUNDS Agency Funds -

The Agency Funds are used to account for assets held by the City as an agent for individuals, private organizations, other governments, and/or other funds.

The Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations.

C.

Fixed Assets and Long-Term Liabilities The accounting and reporting treatment applied to the fixed assets and long-term liabilities associated with a fund are determined by its measurement focus.

All Governmental Funds are accounted for on a spending or "financial flow" measurement focus.

This means that only current assets and current liabilities are generally included on their balance sheets. Their reported fund balance (net current assets) is considered a measure of "available spendable resources."

Governmental fund operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets.

Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period.

Fixed assets used in governmental fund type operations (general fixed assets) are accounted for in the General Fixed Assets Account Group, rather than in governmental funds. Public domain ("infrastructure") general fixed assets consisting of certain improvements other than buildings, including roads, bridges, curbs and gutters, streets and sidewalks and drainage systems, are not capitalized as general fixed assets.

No depreciation has been provided on general fixed assets.

All fixed assets are valued at historical cost or estimated historical cost if actual historical cost is not available.

Donated fixed assets are valued at their estimated fair value on the date donated.

Long-term liabilities expected to be financed from governmental funds are accounted for in the General Long-Term Obligations Account Group, not in the governmental funds.

15

1.C. (Continued)

The two account groups are not "funds".

They are concerned only with the measurement of financial position.

They are not involved with measurement of results of operations.

Noncurrent portions of long-term receivables due to governmental funds are reported on their balance sheets, in spite of their spending measurement focus.

Special reporting treatments are used to indicate, however, that they should not be considered "available spendable resources," since they do not represent net current assets.

Recognition of governmental fund type revenues represented by noncurrent receivables is deferred until they become current receivables. Noncurrent portions of long-term loans receivable are offset by fund balance reserve accounts.

Expendable supplies are inventoried in the Enterprise and Internal Service Funds. As items are consumed, they are charged as an expense to the user departments.

Because of their spending measurement

focus, expenditure recognition for governmental fund types is limited to exclude amounts represented by noncurrent liabilities.

Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities.

They are instead reported as liabilities in the General Long-Term Obligations Account Group.

All Proprietary Funds are accounted for on a cost of services or "capital maintenance" measurement focus.

This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets.

Their reported fund equity (net total assets) is segregated into contributed capital and retained earnings components.

Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in net total assets.

Depreciation of all exhaustible fixed assets used by proprietary funds is charged as an expense against their operations.

Accumulated depreciation is reported on proprietary fund balance sheets.

Depreciation has been provided over the estimated useful lives using the straight line method. The estimated useful lives are as follows:

Buildings 50 years Improvements 20-99 years Equipment 4-15 years D.

Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied.

The general, special revenue, debt service, capital projects and trust and agency funds are accounted for using the modified accrual basis of accounting.

Their revenues are recognized when they become measurable and available as net current assets.

The primary revenue sources susceptible to accrual are sales taxes, utility users taxes, property taxes, special assessments, street lighting charges, fines and forfeitures which are considered "measurable" when in the hands of intermediary collecting governments and are recognized as revenue at that time. Anticipated refunds of such taxes are recorded as liabilities and reductions of revenue when they are measurable and their validity seems certain.

Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. The exception to this general rule is the principal and interest on general long-tern obligations which is recognized when due.

The enterprise and internal services funds are accounted for using the accrual basis of accounting.

Their revenues are recognized when they are earned and their expenses are recognized when they are incurred. Unbilled electric, water, sewer, and refuse utility service charges which are billed on monthly cycle billings are recorded at year end and reflect on the balance sheet as unbilled accounts receivable (see Note 5).

The Electric Utility's Rates, Rules and Regulations provide for a rate stabilization formula which is included in customer billings to reflect variations in the cost of power to the Electric Utility.

The Electric Utility adjusts revenues from the sale of electricity for over collections or under collections of revenues resulting from differences between the Electric Utility's actual cost of power and the amount billed to customers through the billing formula.

These over or under collections are recorded in the rate stabilization accounts until they are refunded to, or recovered from utility customers.

16

E.

Budgets and Budgetary Accounting The City uses the following procedures in establishing the budgetary data reflected in the financial statements:

After January 1, department heads prepare estimates for required appropriations for the fiscal year commencing the following July 1. The proposed budget includes estimated expenditures and forecasted revenues for the fiscal year. The data is presented to the City Manager for review.

Prior to June 1, the City Manager submits to the City Council a proposed operating budget for the upcoming fiscal year.

The operating budget includes a summary of the proposed expenditures and financial resources of the City, as well as historical data for the preceding two fiscal periods.

Public hearings are conducted at the city hall to obtain taxpayer comments. The City Council adopts the budget at its last meeting in June through passage of an adopting resolution.

This appropriated budget covers substantially all City expenditures including rebudgeted items. There were no significant non-budgeted financial activities.

All appropriated amounts are as originally adopted or as amended by the City Council and lapse at year end.

Individual amendments were not material in relation to the original appropriations which were amended.

The City Manager is authorized to transfer budgeted amounts between functions, departments and objects of expenditure within funds.

Transfers of appropriations between functions and between funds may be made only by authority of the City Council.

Total fund expenditures in the excess of the total fund budgeted amounts are prohibited.

Formal budgetary integration is employed as a management control device during the fiscal year for the general, special revenue and capital projects funds.

Formal budgetary integration is not employed for debt service funds because effective budgetary control is alternatively achieved through debt indenture provisions.

Budgets for the general, special revenue, and capital projects funds are adopted on a basis consistent with generally accepted accounting principles.

F.

Encumbrances Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditures of monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of the formal budgetary integration in the general, special revenue, and capital projects funds Encumbrances outstanding at year end are reported as reservations of fund balances since they do not constitute expenditures or liabilities.

G.

Investments Investments are stated at cost, which was less than market value at June 30, 1987 (See note 3).

If market values decline below cost, no loss is recorded as such declines are considered temporary (Deferred Compensation is recorded at market value).

Cash accounts of all funds are pooled for investment purposes, in order to maximize interest earnings. All such interest earnings become revenue to the general fund unless prohibited by bond covenants, or legal requirements relating to specific funds or grant provisions.

H.

Due from Other Governments Reflects earned revenues which the City has accrued at June 30, 1987.

I.

Inventory Central Stores Inventory The City uses the Internal Services Fund Central Stores to control, purchase and issue all expendable supplies which are stated at average cost. The costs are recorded as expenditures at the time the individual items are consumed.

J.

Compensated Absences The accompanying financial statements include accruals for salaries, fringe

benefits, and compensated absences due employees at June 30, 1987. Compensated absences are considered long-term liabilities.

City employees receive from ten to twenty-five days vacation each year depending upon length of service.

Vacation can be accumulated as of January 1 to a maximum not to exceed accumulation of two years continuous service.

Unused vacation may be redeemed in cash upon termination of employment.

17

1.3. (Continued)

City employees receive one working day of sick leave for each month of employment or major portion thereof with unlimited accumulation for unused sick leave.

Employees who terminate for reasons other than retirement or death lose all accumulated sick leave. Upon retirement or death, unused sick leave is paid in cash at the rate of 25% after five years employment and 50% after ten years employment.

Employees hired in the general bargaining unit after July 1, 1979 cannot redeem any unused sick leave.

K.

Claims and Judgements Payable Claims and judgements payable are accounted for in accordance with GASB adopted NCGA statement 4, which requires that expenditures for claims be recognized when it is probable that the liability has been incurred at year end and the amount of loss can be reasonably estimated.

It is the City's policy that all insurance claims outstanding at June 30, 1987, will be liquidated from expendable available financial resources at June 30, 1987. Accordingly, such claims are recorded as liabilities in the internal services fund (see Note 12).

L.

Comparative Data Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the City's financial position and operations. However, comparative (i.e.,

presentation of prior year totals by fund type) data have not been presented in each of the statements since their inclusion would make the statements unduly complex and difficult to read.

M.

Total Columns on Combined Statements - Overview Total columns on the Combined Statements - Overview are captioned Memorandum Only to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operation, or changes in financial position in conformity with generally accepted accounting principles.

Furthermore, such data is not comparable to a consolidation.

Interfund eliminations have not been made in the aggregation of this data.

2. Property Tax Calendar Property taxes are assessed and collected each fiscal year according to the following property tax calendar:

Lien date March 1 Levy date July 1 to June 30 Due date November I 1st installment March 1 2nd installment Delinquent date December 10 -

1st installment April 10 2nd installment Under California law, property taxes are assessed and collected by the counties up to 1% of assessed value, plus other increases approved by the voters.

The property taxes go into a pool, and are then allocated to the cities based on complex formulas prescribed by the state statutes. Accordingly the City of Riverside accrues only those taxes which are received from the county within sixty days after year end.

3. Cash and Investments Cash and investments by credit risk, carrying amount and market value of investments at June 30, 1987, consisted of the following:

18

3.

(Continued)

Category Carrying Market 1

2 3

Amount Value Investments Repurchase agreements

$ 17,575,000

$ 17,575,000 Certificates of Deposits 3,000,000 3,000,000 3,000,000 Federal obligations:

Federal Farm Credit Bank 58,436,835 58,436,835 60,226,764 U.S. Treasury Bills 2,910,777 2,910,777 2,926,402 Negotiable Certificates of Deposit

$ 84,746,969 84,746,969 84,746,969 Medium Term Notes 20,000,000 20,000,000 20,000,000 Fiscal Agent Investments 42,245,218 42,245,218 42,245,218 Demand Accounts with Bank (1) 3,294,706 3,294,706 3.294.706 Total Cash and Investments 97d 17

$146 2.481 232,209,505 234,015,059 State of California -

LAIF Total 185 i

0qi (1) 100% insured or collateralized Cash and investments are reported in the accompanying combined balance sheet as follows:

Cash and investments -

unrestricted

$198,940,287 Cash and investments -

restricted 42,245,218 Total

$241 1A5 50 The restricted cash and investments represent cash held by fiscal agents or financial institutions, and thus these investments are not under the control of the City Treasurer, and are not available for investment by the City. All unrestricted investments are pooled.

The amounts of cash and investments are classified in these three categories of credit risk:

(1) Insured or collateralized with securities held by the entity or by its agent in the entity's name.

(2) Collateralized with securities held by the pledging financial institution's trust department or agent in the entity's name.

(3) Uncollateralized.

(This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the entity's name.)

The following disclosures are made in accordance with statement number 3 of the Governmental Accounting Standards Board (GASB 3):

Authorized Investments Under provisions of the City's investment policy, and in accordance with Section 53601 of the California Government Code, the City Treasurer may deposit idle City funds in the following investment media to the extent permitted by applicable law:

(1) the Local Agency Investment Fund of the State of California; (2) United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the faith and credit of the United Stats are pledged for the payment of principal and interest; (3) registered state warrants or treasury notes or bonds of the State of California, including bonds payable solely out of revenues from a revenue producing property owned, controlled or 19

3.

(Continued) operated by the State, or by a department, board, agency or authority thereof; (4) bonds, notes, warrants, or other evidences of indebtedness of any local agency within the State of California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled or operated by the local agency, or by a department, board, agency or authority thereof; (5) obligations issued by banks or cooperatives, Federal Land Banks, Federal Intermediate Credit Banks, Federal Home Loan Banks, Federal Home Loan Bank Board, the Tennessee Valley Authority, or in obligations, participations, or other instruments of or issued by, or fully guaranteed as to principal and interest by, the Federal National Mortgage Association or in obligations, participations or other instruments of or issued by a federal agency or a United States Government sponsored enterprise; (6) bills of exchange or time drafts drawn on and accepted by a commercial

bank, otherwise known as Bankers Acceptances, which are eligible for purchase by the Federal Reserve System; (7) commercial paper of "prime" quality or other interest bearing obligations of the highest ranking or of the highest letter and numerical rating as provided by Moody's Investors Service, Inc.,

or Standards and Poor's Cooperation; (8) collateralized or negotiable certificates of deposit issued by a nationally or a state chartered bank or a state or federal savings and loan association; and (9) investments in repurchase agreements of any securities authorized. The City selects its investments based on safety, liquidity and yield.

Local Agency Investment Fund (LAIF)

The LAIF is a special fund of the California State Treasury through which local governments may pool investments.

Each city may invest up to $5,000,000 in the fund for the city, and $5,000,000 for the redevelopment agency.

Investments in LAIF are highly liquid, as deposits can be converted to cash within twenty-four hours without loss of interest. Investments with LAIF are secured by the full faith and credit of the State of California.

Collateral for Deposits Under the provisions of the California Government Code, California banks and savings and loan associations are required to secure a City's deposits by pledging government securities as collateral.

The market value of the pledged securities must equal at least 110% of a City's deposits. California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of a City's total deposits.

The collateral for certificates of deposit is generally held in safekeeping by the Federal Home Loan Bank in San Francisco as the third-party trustee. The securities are physically held in an undivided pool for all California public agency depositors.

The State Public Administrative Office for public agencies and the Federal Home Loan Bank maintain detailed records of the security pool which are coordinated and updated weekly.

The City Treasurer, at his discretion, may waive the 110% collateral requirement for deposits which are insured up to $100,000 by the FDIC or FSLIC.

4. Restricted Assets, Cash and Investments (in thousands of dollars)

Special Debt Capital Revenue Service Projects Enterprise Agency F sduFunds Funds Restricted cash and investments with fiscal agent for:

Employee Deferred Compensation 87 CDBG Loan Program 87 Lease Revenue Bonds issue by:

Riverside Parking Authority 240 Riverside Civic Center Authority 11,794 Certificates of Participation 350 Riverside Municipal Improvements Corporation 3,397 6,281 Riverside Airport Lease Company 168 Tax Allocation Bonds:

Redevelopment Agency 5,145 Total 20

5., Other Accrued Revenue Receivables, net (in thousands of dollars)

The other accrued revenue receivables consist of the following receivables:

Special Debt Capital Internal General Revenue Service Projects Enterprise Services Receivables

_un_

Funds Funds Funds Funds Funds Property taxes 347 $

81 $

11 Accounts receivables 744 49 2,141 15,448 146 Unbilled accounts 482 5,293 2

Accrued interest 723 70 548 125 2,040 91 Loans 34 2,069 3,935 2

Total 2

1 5

$=

62n

$269 22 7 7

6. Changes in General Fixed Assets (in thousands of dollars)

Balance Balance Beginning End of Year Additions Deductions of Year Land 14,810 2,875 17,685 Buildings and Improvements 32,651 1,245 120 33,776 Improvements other than Buildings 13,453 13,453 Machinery and Equipment 20.358 3,127 835 22,650 Total 1l 272 747 955 87 564 Included in the aforementioned fixed assets are capitalized leased assets comprised as follows:

Land 8,343 Buildings and Improvements 19,839 Machinery and Equipment 1,261 Total 29 443

7. Proprietary Fund Type Fixed Assets (in thousands of dollars)

Internal Enterprise Services Funds Funds Land 13,193 Buildings and Improvements 49,213 Improvements other than Buildings 302,257 Machinery and Equipment 13,350 497 Total 378,013 497 Less accumulated depreciation (92,086)

(291)

Net

8. Work in Progress, valued at cost (in thousands of dollars)

Construction 25,315 Nuclear fuel inventory 6,756 Nuclear plant spare parts inventory 551 Total 21

9. Other Accrued Liabilities The other accrued liabilities consist of the following payables (in thousands of dollars):

Special Capital Internal General Revenue Projects Enterprise Services Agency Fund Funds Funds Funds Funds Funds Payroll 566 59 40 227 17 Deferred revenue 5

52 1

85 Deposit payable 1

216 Decommission liability 468 Deferred compensation 14,784 Special deposits 2,459 Payroll clearing 217 Total 57 L=

Il?

L===6

$=

7= 0 J=17 1

6

10. City Employees Retirement Plan The City is a participant in the Public Employees Retirement System (PERS) of the State of California covering all of the City's permanent employees. Contributions to the system, paid entirely by the City, are based on rates set by PERS based on certain actuarial assumptions, such as length of employment, estimated salary rates, mortality rates, projected retirement benefits, and other factors.

Pension costs are recorded as expenditures when paid by monthly contributions to PERS.

The total pension expense for the year ended June 30,

1987, attributable to a total payroll of $55,039,720, was $13,161,276, of which approximately $139,510 was for prior service costs. Actuarial information related to the plan was not available from PERS at June 30, 1987. However, at June 30, 1986, the plan net assets available for benefits totaled $142,210,660, and the present value of the City's unfunded obligation for prior service costs totalled $2,974,889, which amount will be funded through the year 2011 from established contribution rates.

The actuarial present value of vested and nonvested accumulated plan benefits is not determined under PERS system of accounting. We understand PERS will be addressing accumulation of appropriate acturial information, on a timely basis, sometime in the future.

11. City of Riverside Deferred Compensation Plan The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457.

The plan, available to all City employees, permits them to defer a portion of their salary until future years.

The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency.

All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the City (without being restricted to the provisions of benefits under the Plan), subject only to the claims of the City's general creditors. Participants' rights under the plan are equal to those of general creditors of the City in an amount equal to the fair market value of the deferred account for each participant.

It is the opinion of the City's legal counsel that the City has no liability for losses under the plan but does have the duty of due care that would be required of an ordinary prudent investor. The City believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future.

The following is a summary of the increases and decreases of the fund for the year ended June 30, 1987:

Fund assets (at market value) beginning of year

$ 11,942,271 Deferrals of compensation 2,602,102 Earnings and adjustment to market value 987,813 Payments to eligible participants and beneficiaries (747,768)

Fund assets (at market value) end of year

$i1&4441A 22

12, Self-Insurance Program The City of Riverside has been 100% self-insured since January 1986 for general liability. The City has other coverages as listed below:

a. All property and contents insurance with a coverage of $94,668,800 with a self-insured deductible of $5,000.

b.

Automotive vehicle fire/theft and comprehensive insurance with a coverage of $4,000,000 with a self-insured deductible of $1,000,000.

c.

Helicopter all risk insurance with a coverage of $360,000 and self-insured deductible of $18,000.

d.

Airport and Helicopters general liability insurance coverage of $50,000,000 with no deductible.

e. Boiler and Machinery general liability insurance for the City Hall and Raincross Square with coverage of $1,000,000 and self-insured deductible of $250. All other locations have a coverage of $500,000 and self-insured deductible of $250.

f.

Workers' compensation insurance coverage of unlimited amount with a self-insured deductible of $1,000,000.

The total insurance claims liability reflected in the accompanying financial statements at June 30, 1987, is $895,654, as established by the City's contract insurance administrators (also see Note IK).

13. Long-Term Obligations The following is a

summary of changes in long-term obligation transactions of the City for the year ended June 30, 1987 (in thousands of dollars):

Balance Balance Beginning End of Year Increase Deductions of Year Contracts payable 2,729 603 271 3,061 Notes payable 1,262 128 1,134 Compensated absences 16,614 1,599 18,213 Revenue bonds payable 206,885 3,422 203,463 General obligation bonds payable 1,280 185 1,095 Tax allocation bonds payable 22,710 565 22,145 Riverside Civic Center Authority lease revenue bonds payable 30,010 685 29,325 Riverside Parking Authority lease revenue bonds payable 2,880 80 2,800 Riverside Municipal Improvement Corporation:

Certificates of Participation 13,810 8,970 2,215 20,565 Special Assessment bonds payable 25,160 27,160 35 52,285 Total 323-340 A4 086 The annual requirements to amortize all debt outstanding (except compensated absences) as of June 30, 1987, including interest payments of

$358,101 are as follows (in thousands of dollars):

There 1989 199

.1991 1992 after lotal Contracts payable 735 $

640 531 $

433 $

143 $

1,589 4,071 Notes payable 219 219 219 219 219 363 1,458 Revenue bonds payable 18,560 18,473 18,429 18,312 18,280 334,778 426,832 General obligation bonds payable 240 241 237 238 178 127 1,261 Tax allocation bonds payable 2,562 2,580 2,572 2,582 2,571 29,748 42,615 Riverside Civic Center Authority lease revenue bonds payable 2,392 2,748 2,747 2,753 2,753 32,684 46,077 Riverside Parking Authority lease revenue bonds payable 278 282 280 283 280 3,427 4,830 Riverside Municipal Improvement Corporation:

Certificates of Participation 4,005 4,401 4,217 3,586 2,412 11,135 29,756 Special Assessment bonds payable 4,566 4,990 5,284 5,281 5.274 11,679 1377.4 Total 33-551 451L6 33 1

525 3Q 93-7A 23

13.

(Continued)

LONG-TERM OBLIGATIONS AT JUNE 30, 1987 (in thousands of dollars)

Contracts payable consists of lease purchase equipment principal to offset recorded fixed assets at cost and stock acquisition capitalized in the Water Fund 3.061 through 2004; interest at 10.0%.

Total Contracts payable Notes payable consists of a California Energy Commission loan for street lights 1.134 through 1994; interest from 7.25% to 7.75%. Paid by General Fund.

Total Notes payable Compensated Absences:

VACATION AND SICK LEAVE ACCRUAL GOVERNMENTAL FUNDS The noncurrent portions of the governmental funds' accumulated vacation and sick leave accrual is being reported in the general long-term obligations account group. For the fiscal year ended June 30, 1987, the noncurrent portions of the accrual are:

vacation leave -

$2,810,526; and sick leave -

$10,755,667.

13,566 PROPRIETARY FUNDS The noncurrent portions of the proprietary funds' accumulated vacation and sick leave accrual is being reported in the respective proprietary fund.

For the fiscal year ended June 30, 1987, the noncurent portions of the accrual are:

vacation leave -

$1,093,510; and sick leave -

$3,553,100 4.647 Total Compensated Absences Bonds payable at June 30, 1987 are comprised of the following individual issues:

Revenue Bonds:

Electric

$80,000,000 1980 Electric Revenue serial bonds due in annual installments from $525,000 to $1,215,000 through October 1, 1994; interest from 8.1% to 10.0% (Portion not refunded) 6,650

$9,070,000 1980 Electric Revenue Refunding serial bonds due in annual installments from $125,000 to $470,000 through October 1, 1995; interest from 8.1% to 10.0% (Portion not refunded) 3,270

$35,000,000 1983 Electric Revenue serial bonds due in annual installments from $270,000 to $680,000 through October 1, 1995; interest from 8.5% to 10.5% (Portion not Refunded) 4,415

$16,500,000 1985 Electric Revenue serial bonds due in annual installments from

$245,000 to $650,000 through October 1, 2000; interest from 6.0% to 8.3% and

$4,155,000 8.4% Term Bonds due October 1, 2005 @ 99% and

$6,235,000 8.5% Term Bonds due October 1, 2010 @99%

16,255

$121,025,000 1986 Electric Revenue Refunding Series A serial bonds due in annual installments from

$660,000 to $4,740,000 through October 1, 2001; interest from 4.5% to 6.8% and

$15,705,000 7% Term Bonds due October 1, 2004 @ 100% and

$68,910,000 7% Term Bonds due October 1, 2013 @ 99%

121,025 Total Electric 151,615 24

13.

(Continued)

Water

$1,000,000 1960 Water Revenue Series 2 serial bonds due in annual installments from

$25,000 to $40,000 through February 1, 1996; interest from 3.5% to 5.0%

335

$3,500,000 1967 Water Revenue Series A serial bonds due in annual installments from

$75,000 to $130,000 through June 1, 2002; interest from 4.0% to 6.0%

1,730

$1,500,000 1969 Water Revenue serial bonds due in annual installments from $50,000 through December 1, 1999; interest from 6.4% to 8.0%

650

$5,000,000 1972 Water Revenue serial bonds due in annual installments from $60,000 to $325,000 through May 1, 2002; interest from 3.0% to 7.0%

3,455

$6,900,000 1973 Water Revenue serial bonds due in annual installments from $80,000 to $435,000 through August 1, 2003; interest from 5.1% to 6.5%

5,150

$5,000,000 1974 Water Revenue serial bonds due in annual installments from $60,000 to $310,000 through December 1, 2004; interest from 7.0% to 8.0%

3,805

$2,000,000 1976 Water Revenue serial bonds due in annual installments from $25,000 to $145,000 through February 1, 2006; interest from 5.7% to 8.5%

1,575

$3,000,000 1977 Water Revenue serial bonds due in annual installments from $40,000 to

$225,000 through February 1, 2007; interest from 4.9% to 8.0%

2,430

$6,600,000 1978 Water Revenue serial bonds due in annual installments from $90,000 to $410,000 through April 1, 2008; interest from 5.0% to 7.0%

5,410

$5,845,000 1985 Water Revenue serial bonds due in annual installments from $235,000 to $625,000 through October 1, 2000; interest from 6.0% to 8.4% and $4,010,000 8.5%

term bonds due October 1, 2005 @ 99% and $6,045,000 8.6% term bonds due October 1, 2010 @ 99%

15,665 Total Water 40,205

$1,000,000 1969 Sewer Series B Revenue serial bonds due in annual installments from

$20,000 to $120,000 through February 1, 1990; interest from 4.25% to 5.5%

345

$2,000,000 1978 Sewer Revenue serial bonds due in annual installments from $50,000 to

$175,000 through October 1, 1998; interest from 5.0% to 7.0%

1,480

$900,000 1979 Sewer Revenue serial bonds due in annual installments from $20,000 to

$80,000 through August 1, 1999; interest from 5.3% to 7.25%

710

$9,400,000 1985 Sewer Revenue Refunding serial bonds due in annual installments from

$240,000 to $1,025,000 through June 1, 2002; interest from 5.0% to 8.75%

8,915 Total Sewer 11,450 25

13.

(Continued)

Airport

$530,000 1966 Riverside Airport Lease Company leasehold mortgage bonds due in annual installments from $12,000 to $36,000 through December 1, 1992; interest at 4.5%

193 Total Airport 193 Total Revenue Bonds 20n-463 General Obligation Bonds:

$1,900,000 1964 Sewer Series 2 serial bonds due in annual installments from $50,000 to $85,000 through June 1, 1992; interest from 3.5% to 5.5%

420

$750,000 1968 Fire Protection Series I serial bonds due in annual installments from

$20,000 to $40,000 through June 1, 1994; interest from 5.0% to 6.0%

270

$500,000 1968 Fire Protection Series 2 serial bonds due in annual installments from

'$20,000 to $50,000 through April 1, 1991; interest from 4.6% to 6.0%

180

$450,000 1968 Fire Protection Series 3 serial bonds due in annual installments from

$20,000 to $40,000 through December 1, 1992; interest from 4.3% to 6.0%

225 Total General Obligation Bonds I

5 Tax Allocation Bonds:

$4,000,000 1976 Redevelopment Agency tax allocation bonds due in annual installments from $75,000 to $350,000 through June 1, 2000; interest at 7.3518%

3,060

$5,000,000 1978 Redevelopment Agency tax allocation bonds due in annual installments from $115,000 to $455,000 through October 1, 1999; interest at 8.0%

3,980

$1,640,000 1978 Redevelopment Agency tax allocation bonds due in annual installments from $35,000 to $510,000 through May 1, 2000; interest at 8.0%

1,320

$5,100,000 1984 Redevelopment Agency tax allocation bonds due in annual installments from

$85,000 to $550,000 through June 1, 2004; interest from 8.5% to 10.5%

4,815

$1,100,000 1984 Redevelopment Agency tax allocation bonds due in annual installments from

$20,000 to $120,000 through May 1, 2004; interest from 8.75% to 10.75%

1,035

$4,000,000 1985 Redevelopment Agency tax allocation bonds, Downtown Mile Square, due in annual installments from $70,000 to $425,000 through December 1, 2006; interest from 7.25% to 9.25%

4,000

$2,100,000 1985 Redevelopment Agency tax allocation bonds, Central Industrial, due in annual installments from $40,000 to $215,000 through December 1, 2006; interest from 6.50% to 9.13%

2,060

$1,900,000 1985 Redevelopment Agency tax allocation bonds, Riverside Airport, due in annual installments from $25,000 to $280,000 through December 1, 2006; interest from 6.5% to 9.1%

1,875 Total Tax Allocation Bonds 26

13.

(Continued)

Riverside Civic Center Authority Bonds:

$15,100,000 1972 Riverside Civic Center Authority revenue bonds due in annual installments from $330,000 to $1,065,000 through December 1, 2002; interest from 4.25% to 6.25%

11,380

$11,000,000 1974 Riverside Civic Center Authority development bonds due in annual installments from $155,000 to $795,000 through July 15, 2004; interest at 7.0%

8,945

$9,000,000 1977 Riverside Civic Center Authority refunding lease revenue bonds due in annual installments from $360,000 to $845,000 through July 15, 2003; interest from 5.1% to 6.6%

9,000 Total Riverside Civic Center Authority Riverside Parking Authority Bonds:

$3,450,000 1974 Parking Authority lease revenue bonds due in annual installments from

$40,000 to $270,000 through August 15, 2003; interest at 7.0%

2,800 Total Riverside Parking Authority 7An Riverside Municipal Improvement Corporation:

$13,595,000 1984 City of Riverside Municipal Improvement Corporation certificates of participation lease agreements with City of Riverside due in annual installments from $720,000 to $2,080,000 from January 1, 1986 through January 1, 1996; interest from 7.0% to 9.4%

11,280

$8,970,000 1986 City of Riverside Municipal Improvement Corporation certificates of participation lease agreements with City of Riverside due in annual installments from $35,000 to $1,010,000 from August 1, 1987 through August 1, 2007; interest from 5.5% to 8.0%

8,970

$2,525,000 City of Riverside 1983 Certificates of Participation (Equipment Acquisition Project) lease payment certificates due in annual installments from $315,000 to

$620,000 from January 1, 1984 through January 1, 1988; interest from 6.0% to 8.0%

315 Total Riverside Municipal Improvement Corporation Special Assessment Bonds:

$1,394,898 City of Riverside Improvement Bonds, 1915 Fairmount Business Park Assessment District, due in annual installments from $24,898 to $145,000 from July 2, 1984 through July 2, 2003; interest from 6.5% to 10.0%

1,310

$100,000 1984 City of Riverside Improvement Bonds, 1915 Sandy Lane Assessment District, due in annual installments from $5,000 to $15,000 through July 2, 1995; interest from 8.4% to 9.4%

95

$10,595,000 1985 Improvement Bonds, Series A, Canyon Springs Assessment District, due in annual installments from $25,000 to $1,040,000 through September 2, 2011; interest from 8.25% to 10.0%

10,595 27

13.

(Continued)

$13,125,000 1985 Improvement Bonds, Series B, Canyon Springs Assessment District, due in annual installments from $160,000 to $1,280,000 through September 2, 2011; interest from 7.0% to 9.75%

13,125

$8,160,000 1985 Improvement Bonds, Series C, Canyon Springs Assessment District, due in annual installments from $25,000 to $1,040,000 through September 2, 2011; interest from 5.50% to 8.25%

8,160

$19,000,000 Series 1987 Bonds of Community Facilities District No. 86-1 of the City of Riverside, California, Mello-Roos-Orangecrest due in annual installments from $195,000 to $345,000; interest from 6.5% to 8.2% and $16,650,000 through September 1, 2016; interest at 8.75% Price 100% (Plus accrued interest from June 1, 1987) 19,000 Total Special Assessment Bonds The following debt service reserves are available at June 30, 1987 (in thousands of dollars):

General Long-Term Obligations General Obligation Bonds 477 1915 Assessment District 3,869 Riverside Parking Authority 242 Riverside Civic Center Authority 12,082 1982 Mello-Roos Community Facilities Act 1,965 1983 Certificates of Participation 463 Riverside Municipal Improvement Corporation 5,488 Redevelopment Agency Total Reserve for Debt Service 29 Proprietary Funds Electric Fund 27,758 Water Fund 5,001 Sewer Fund 1,778 Riverside Airport Lease Co. Revenue Bonds 168 Total Reserve for Revenue Bond Retirement 34-0.5 Included in the aforementioned amounts are the following debt service requirements (in thousands of dollars):

Actual Debt Service Debt Service Debt Service Ratio Required Ratio Requirements Debt Service Fund

.21 29,821 Electric Fund 1.25 3.1 17,758 Water Fund 1.50 2.3 5,001 Sewer Fund 1.50 5.8 1,778 Total

- TRA There are also a number of limitations and restrictions contained in various bond indentures.

The City is in compliance with all significant limitations and restrictions.

28

14. Special Assessment District Improvement Bonds The City has special Assessment Bonds issued under the 1911 and 1915 Bond Acts and the 1943 Vehicle Parking Improvement Act. The City has no liability to the 1911 and 1943 bond-holders until assessments represented by that particular bond have been collected from the property owner and that liability is recorded in trust and agency funds.

The City also has no liability to the 1915 bond-holders until assessments are collected on the tax rolls and the liability is recorded in the Debt Service Fund. However, the City may take certain actions to assume secondary liability for all or part of the 1915 Bonds until time as foreclosure proceedings are consummated.

Therefore, the 1911 and 1943 Bonds are not recorded as liabilities in the accompanying financial statements.

The 1915 Bonds are recorded as liabilities in the accompanying financial statements pursuant to the Governmental Accounting Standards Board Statement relating to Accounting and Financial Reporting for Special Assessments.

Outstanding 1911 and 1943 Bonds totaled $244,057 at June 30, 1987.

15. Interfund Advances Receiveable and Payable Interfund advances receivable and payable are presented as follows (in thousands of dollars):

Advances Receivable Advances Pavable Redevelopment Central Stores Agency Capital Internal Fund Type Proiects fund Services Fund Special Revenue Fund:

Redevelopment Agency 121 121 Capital Projects Fund:

Redevelopment Agency 526 526 Enterprise Fund:

Electric 505 505 Water 250 250 Internal Services Fund:

Workers' Compensation 1,248 1,248 Public Liability 140 140 Total 4

2 79Q 0

35

16. San Onofre Nuclear Generating Station Decommission Liability The City is required by agreement to establish a reserve for the decommissioning of the power plant and restoration of the beach front at San Onofre.

The City recognizes its 1.79% share of the present value of decommissioning costs of $200,000,000 as estimated by Southern California Edison engineers, by funding the reserve over the 30 year life of the plant.

The City presently has $468,293 cash and investments set aside of its $3,580,000 estimated share of the decommission cost.

29

17.

Retained Earnings/Fund Balance Reserves and Designations Reserves:

The various reserves established as of June 30, 1987, are described and tabulated as follows (in thousands of dollars):

Special Debt Capital Internal General Revenue Service Projects Enterprise Services Reserve Fund Funds -Funds Funds -Funds Funds Encumbrances 824 489 3,541 Prepaid Expenses 2,096 150 Self Insurance 6,240 Loans Receivable (Non-current Portion) 34 2,069 Advances Receivable 121 526 Land and improvements -

held for resale 1,114 2,908 Debt Service 29,821 24,705 Rate stabilization 10,00 Total

$ =2_954 $

3 42 19 4

34-705

=

24 RESERVE FOR ENCUMBRANCES This reserve represents the portion of purchase orders and contracts awarded for which goods or services have not yet been received at June 30, 1987. Although all appropriations lapse at year-end, even if encumbered, the City intends either to honor the contracts in progress or to cancel them. Reserve for encumbrances are rebudgeted on July 1, 1987, by Council resolution.

RESERVE FOR PREPAID EXPENSES This reserve represents contractual obligations for cash payments made before June 30, 1987, but not recognized as an expenditure until after July 1, 1987.

RESERVE FOR SELF-INSURANCE This reserve represents funds set aside to operate the City self-insurance program for workers' compensation, unemployment compensation and public liability insurance and to restrict their usage to future claims.

RESERVE FOR LOANS RECEIVABLE (Noncurrent portion)

This reserve is set up to reflect the non-current portion of loans receivable so that they will not be considered as current funds available.

RESERVE FOR ADVANCES RECEIVABLE (Noncurrent portion)

This reserve is set up to reflect the non-current portion of advances receivable so that they will not be considered as current funds available.

RESERVE FOR LAND AND IMPROVEMENTS HELD FOR RESALE This reserve is set up to remove from current fund balances that land and improvements which are being held for resale in the Redevelopment Agency.

RESERVE FOR DEBT SERVICE This reserve is established for cash restricted for future debt service requirements.

30

RESERVE FOR RATE STABILIZATION This reserve was established pursuant to City Council action to further help stabilize the need to increase electric rates.

Designations:

Special Capital General Revenue Projects Designated at June 30. 1987 Fund Funds Funds Subsequent year's expenditures 2,248 2,003 34,405 Future contingencies 100 Total 2=

3AB 2n 34An DESIGNATED FOR SUBSEQUENT YEAR'S EXPENDITURES This designation was established by City Council action for specific capital projects and programs.

DESIGNATED FOR FUTURE CONTINGENCIES This designation was established by City Council action for specific contingencies.

18. Segment Information for Enterprise Funds The City maintains six enterprise funds which provide electic, water, airport, refuse, sewer and transit services and facilities, for the year ended June 30,1987, as follows (in thousands of dollars):

Electric Water Airport Refuse Sewer Transportation Enterprise Fund d - FFund Fund IFund Fund Funds Operating revenues 123,283 16,337 14 10,553 6,484 62

.156,733 Depreciation expense 6,563 2,402 104 352 1,362 88 10,83 Operating income (loss) 25,487 2,889 (800) 445 (1,157)

(649) 26,215 Operating grants 564 564 Operating transfers:

In (out) 363 (1) 362 Net income (loss) 15,416 2,084 (45) 335 (5,687)

(80) 23,397 Current capital:

Contributions 1,681 6,812 870 115 9,478 Property, Plant and Equipment:

Additions 10,353 7,695 913 838 11,185 115 31,099 Deletions Total assets 251,455 121,193 8,620 4,382 83,025 334 469,009 Net working capital 52,071 36,427 1,352 2,346 18,742 33 110,971 Bonds and other long-term liabilities:

Payable from operating revenues 151,729 42,182 236 682 11,496 206,325 Total equity 62,356 77,594 8,296 2,733 70,083 206 221,268 31

19. Capitalized Leases The City has entered into lease agreements with the Riverside Parking Authority, Riverside Civic Center Authority, Riverside Airport Lease Company, and Riverside Municipal Improvement Corporation, separate public entities, which have issued lease revenue bonds or certificates of participation to construct facilities or equipment for the City.

These bonds and certificates are collateralized by leases of the facilities or equipment to the City with the facilities becoming the City's property upon the retirement of the bonds.

The lease payments approximately equal 'the total debt service requirements of the bonds.

Because of the nature of the leases and related bond transactions, pursuant to FASB Statement 13, these transactions are being accounted for as though the City owned and financed the facilities directly. Accordingly, the lease obligations have been recorded in the City's long-term obligation account.

The total of the related bond debt, and the amount expended to date for construction of the facilities have been reflected in the general fixed assets group of accounts.

The following tabulation reflects pertinent information reflecting the sale of bonds and annual lease payments (in thousands of dollars):

Riverside Riverside Airport Riverside Municipal Riverside Civic Center Authority Parking Authority Lease Company Improvement Corporation Community Center Parking Garage 3 Airport

-City all Facility Facility Terminal Equipment and Facilities Date of issue 12-1-72 7-15-74 8-15-74 12-1-66 1-1-84 8-1-86 Amount issued

$15,000

$20,000

$3,450

$530

$13,595

$8,970 Interest rate 4.25% to 6.25%

7.0%

4.5%

7.0% to 9.4%

5.5% to 7.6%

Years of redemption 1975-02 1974-04 1977-03 1967-92 1984-96 1987-07 Redemption range

$220 to $1,065

$155 to $795

$40 to $270

$12 to $36

$410 to $2,080

$35 to $1,010 Lease expires 2002 2004 2003 1992 1996 2007 Annual lease payment

$1,008.6

$925

$285.7

$36.5

$559 to $3,001

$302 to $1,529 Current long-term obligation

$11,380

$17,945

$2,800

$193

$12,875

$8,970 The City has entered into several operating leases. These lease agreements are not capitalized and are minor in nature.

20. Litigation Dispute Over Cost of Acquisition of City's Ownership Interest On October 1, 1982, Edison billed the City in the amount of approximately $4,433,000, covering amounts claimed to be due to Edison for (i) recapture of investment tax credit; (ii) additional administrative and general expense; (iii) certain ad valorem taxes; and (iv) interest on the foregoing items, related to the City's purchase of SONGS.

On April 14, 1983, Edison filed a complaint against the City in the Los Angeles County Superior Court seeking to recover the unpaid sum referred to in the preceding paragraph.

Edison also seeks a declaration of the rights of Edison and the City regarding the disputed amounts under the Settlement Agreement and the Participation Agreement, as amended, and a declaration that the City's failure to reimburse Edison for the disputed amounts constitutes an anticipatory breach and repudiationof such Agreements.

The City believes that it does not owe Edison the amounts sought by the complaint.

The City intends to contest the matter.

32

21.

(Continued)

D.

The City has taken advantage of a special condition in the Partial Requirements wholesale rate schedule (R 4.1) with Southern California Edison (SCE) to enter into two firm Power Sales Agreements to offset demand and energy charges from SCE at rates substantially below the current and estimated future SCE rates.

The agreements are with:

(1) Deseret Generation and Transmission Cooperative of Sandy Utah for a fixed price purchase of 46.7 MW of firm system capacity and energy for a period of eight years commencing on January 1, 1987.

(2) Pacific Gas and Electric Company for a 5 MW firm system sale of capacity and energy. The agreement has an initial term of 18 months and is renewable annually thereafter.

-Sale and acceptance of capacity and energy under both agreements is contingent upon availability of transmission facilities.

E.

Feasibility Studies The City currently is involved in feasibility studies for co-funded generation facilities-that have a long-term potential of adding up to 132 MW of generating capacity to the electric system. These projects include the White Pine Coal Facility, Feather River Hydro, Haas-Kings River Hydro, several cogeneration and renewable resource projects.

Other than the feasibility studies, the City is not obligated for any participation in any of these projects. The City is also studying the feasibility of participation in one or more of a number of transmission projects which would permit the City to purchase. surplus capacity and energy, enter into': seasonal interchanges of capacity and energy and to market City seasonal surpluses throughout the Western United States.

22. Deficit Fund Balances or Retained Earnings and Expenditures in Excess of Appropriations Central Stores Fund has a deficit retained earnings of $287,818 partially because of recording the liability for compensated absences and revenues are not sufficient to cover expenses.

Studies have been made of the Stores operations but no decision has been made on the implication of any new programs to increase revenue or the reduction of expenses.

.The Job Training Partnership Act experienced expenditures in excess of appropriations inasmuch as anticipated abatements did not occur.

Total expenditures were restricted to available revenues.

23. Contingent Liabilities The City participates in a number of federally assisted grant programs, principal of which are the General Revenue Sharing, Community Development Block Grant, Jobs Training Partnership Act, and Local Public Works programs. These programs are subject to program compliance audits by the grantors or their representatives.,

The audits of these programs for or including the year ended June 30,

1987, have not yet been conducted. Accordingly, the City's compliance with applicable grant requirements will be established at some future date.

The

amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time although the City expects such amounts, if any, to be immaterial.

24. Subsequent Events A.

The Riverside Municipal Improvement Corporation sold $17,600,000 of Certificates of Participation October 1, 1987.

B.

The City sold $60,000,000 of Sewer Revenue Bonds August 1, 1987, which the proceeds refunded the previously outstanding Sewer Revenue Bonds and generated funds for construction projects.

35

36

20.

(Continued)

Other Litigation City of Anaheim, et al. v. Southern California Edison Company On March 2, 1978, the Cities of Anaheim, Riverside, Banning, Colton and Azusa filed an action in the Federal District Court for the Central District of California alleging that Edison was involved in a conspiracy to restrain and monopolize trade and price discrimination, all in violation of the Sherman Antitrust Act and the Robinson-Patman Price Discrimination Act. On or about May 5, 1978, Edison filed motions for a more definite statement, to dismiss the complaint for failure to state a claim, or in the alternative, to stay the action.

The District Court denied Edison's Motion to Dismiss, but stayed in the case pending the Federal Energy Regulatory Commission's decision in Docket Nos.

ER 76-205, E-7796 and E-7777.

The District Court lifted the stay on September 10, 1979, to permit discovery on certain matters. On February 10, 1980, the District Court vacated the stay entirely. On November 29, 1979, Edison filed its Answer and Counterclaim requesting damages in an unspecified amount.

The City believes, based upon the allegations contained in the Counterclaim, which allegations, constitute the factual basis for such belief, that the Counterclaim of Edison is without merit.

The parties are currently awaiting the judges decision.

Rate Cases and Other Proceedings The City is a party plaintiff or intervenor in various rate cases and other proceedings affecting the Electric System.

The City does not believe that any of these proceedings will have an adverse effect upon the financial condition of the Electric System.

As of June 30,

1987, the City was involved in a number of other damage suits being asserted against the City, in which claims range from minor to substantial amounts. In the opinion of City administration, these actions should not have a significant effect on the financial position of the funds of the City.

(Also see Note 1K and 12.)

21. Commitments A.

The City of Riverside Electric Department has entered into a Power Sales Contract with the Intermountain Power Agency (IPA) for delivery of electric power.

Each Purchaser has covenanted in its Intermountain Power Project (IPP)

Power Sales Contract to establish, maintain and collect rates and charges for the electric service it furnishes so as to provide revenues which, together with its available electric system

reserves, are sufficient to enable it to pay to IPA all amounts payable under its IPP Power Sales Contract and to pay all other amounts payable from, and all lawful charges against or liens on, its electric system revenues.

The Purchasers' obligations, which are several and not joint, to make payments of Monthly Power Costs under their respective Power Sales Contracts, are not subject to reduction or offset if the Project is not completed, operating or operable or if its output (and as a

result, the capacity available to each of the Purchasers) is suspended, interrupted, interfered with, reduced or curtailed or terminated in whole or in part. In addition, the Purchasers' payment obligations under the Power Sales Contracts are not conditioned upon the performance by IPA or any other party (including any other Purchaser) of contractual or other obligations and are not subject to any reduction or offset in the event of any default by IPA in the performance of its obligations under the Power Sales Contracts.

The term of Power Sales Contract has commenced and will end on June 15, 2027, unless terminated sooner in accordance with the provisions for termination amendment.

The City has a "take-or-pay" agreement of 7.617% on two 800 MW generating units.

33

21.

(Continued)

B.

In 1980 the City purchased a 1.79% interest in two 1,100 MW nuclear generating units known as San Onofre Nuclear Generating Station Units 2 and 3 (SONGS).

Pursuant to a Settlement Agreement dated August 4, 1972, with Southern California Edison (Edison),

the City was granted the right to acquire a 1.79% ownership interest in SONGS with Edison providing the necessary transmission services to the City to deliver the output of SONGS to the City.

Edison and the City have signed the SONGS Participation Agreement which sets forth the terms and conditions under which the City will participate in the ownership and output of SONGS.

The City has also signed an Integrated Operations Agreement (IOA) and a Supplemental Agreement for the Integration of Riverside's entitlements in SONGS with Edison which provides, among other things, for the operation of SONGS by Edison for the benefit of the City.

Under the 10A, Edison will continue to supply the City's power and energy requirements over and above the capability of the City's share of SONGS and any future City owned resource and will credit the City on its monthly billing statements for the power and energy generated by such resources that are integrated with Edison resources.

Ownership in SONGS is shared by Edison, San Diego Gas & Electric, the City of Anaheim, and the City of Riverside. Each of the parties is entitled to its proportioned share of benefits and proportioned share of the burdens incurred by Edison and San Diego in the performance of their duties for the construction, operation, and maintenance of Units 2 and 3 and the common facilities.

There are no separate financial statements for this joint venture since each participants' interest in utility plant and operating expenses are included in their respective financial statements.

C.

Southern California Public Power Authority (SCPPA)

The City and other public agencies in Southern California are members of a joint powers authority, the Southern California Public Power Authority.

As currently contemplated, SCPPA would provide for the financing and construction of electric generating and transmission projects for participation by some or all of its members.

To the extent the City participates in the projects developed by SCPPA, the City will be obligated for its proportionate share of cost of the projects on a "take-or-pay" basis.

SCPPA has purchased from the Salt River Project Agricultural Improvement and Power District (Salt River Project) a 5.91%

interest in Palo Verde Nuclear Generating Station (PVNGS) located in Arizona and a 6.55% share of the right to use certain portions of the transmission rights of the Arizona Nuclear Power Project Valley Transmission System.

The City and SCPPA have executed a Power Sales Contract under which the City is entitled to a 5.4% entitlement of SCPPA Project Entitlement that also carries the obligation of monthly payments on a "take-or-pay" basis.

The City will sign a supplemental agreement with Edison which will provide for the.

integration of its Project Entitlement pursuant to the terms of the IDA.

The City has executed a feasibility study agreement with SCPPA pursuant to which SCPPA, Salt River Project, M-S-R Public Power

Agency, and the Western Area Power Administration are studying the feasibility of constructing, owning and operating the Mead-Phoenix DC Intertie Project.

SCPPA has issued a note in the principal amount of $11.3 million to finance a portion of the costs of such study.

and may issue an additional $3.2 million note for that purpose. Such note is payable from the proceeds of long-term bonds to be issued by SCPPA for the Mead-Phoenix DC Intertie Project or from payments by the participants under project development agreements on the basis of project entitlement shares.

SCPPA would finance the Mead-Phoenix DC Intertie Project from the proceeds of long-term bonds secured by payments to be made by the participants under transmission service contracts.

SCPPA's present interest is 93.75%.

The City's entitlement share of this interest is 3.75% It is estimated that this facility would be in commercial operation in 1988.

The City has entered into an agreement with SCPPA, whereby SCPPA will issue long-term debt to finance SCPPA's interest in the capacity upgrading of the Hoover Dam generating facilities. This agreement will provide that the City be entitled to approximately 30 MW of peaking capacity and the associated energy from the project on a take-or-pay basis from SCPPA.

34

City of Riverside COMBINING STATEMENTS SPECIAL REVENUE FUNDS Descriptions of the special revenue funds combined on the following financial statements are as follows:

Library Fund - accounts for the financial transactions of the City's Library and the County Free Library System includes - maintenance assessments districts.

Traffic Safety Fund - accounts for the financial transactions as prescribed by State of California statue on California Vehicle Code Fines.

Special Gas Tax Fund - accounts for the financial transactions as prescribed by State of California statue on California Streets and Highways.

Revenue Sharing Fund - accounts for the financial transactions as prescribed by United States Treasury Codes on revenue sharing funds.

Housing and Community Development Fund -

accounts for the financial transactions as prescribed by the Federal Housing and Urban Development Block Grants.

Job Training Partnership Act Fund -

accounts for the financial transactions as prescribed by the Federal Department of Labor.

Redevelopment Agency Fund (Reporting Entity) accounts for the financial transactions of the City's Redevelopment Agency.

37

City of Riverside Schedule 1 COMBINING BALANCE SHEET ALL SPECIAL REVENUE FUNDS June 30, 1987 Total Housing &

Job Training Redevelop-Traffic Special Revenue Community Partnership ment June 30, June 30, Assets and Other Debits Library Safety Gas Tax Sharing Development Act Agency 1987 1986 Cash and investments

$1,395,376 30 12,365,539 10 113,622 10 11,066,987 14,821,524 14,877,500 Cash and investments at fiscal agent 0

0 0

0 86,628 0

0 86,628 17,149 Receivables, net 82,366 0

48,186 0

19,165 0

2,118,868 2,268,585 2,616,053 Due from other governments 0

196,156 0

0 0

111,340 0

307,496 1,338,322 Prepaid expenses 149,926 0

0 0

0 149,926 40,529 Advances to other funds 0

0 0

0 121,401 121,401 7,593 Investments - land and improvements held for disposal 0

0 0

0 1,113,950 1,113,950 1,077,955 Total Assets and Other Debits 11,627,668 2196,156 12,393,725 s0

$119,415 5111,360 14,421,206 18.869,510 19,975,101 Liabilities and Fund Equity Liabilities:

Cash (deficit balance) s0 1196,156 t0 so 10

$111,340 10 1307,496 1368,361 Accounts payable 726,255 0

0 0

66,890 0

33,647 826,792 708,197 Accrued liabilities 50,192 0

0 0

52,525 0

9,345 112,062 83,659 Advances from other funds 0

0 0

0 500,623 Long-term obligations payable 0

0 0

0 373,174 Total Liabilities 776,47 196,156 0

0 119,415 111,340 42,992 1,246,350 2,034,014 Fund Balance:

Reserved 290,795 0

348,081 0

0 0

3,304,196 3,913,072 4,084,477 Unreserved:

Designated 306,554 0

1,696.358 0

0 0

0 2,002,912 2,435,946 Undesignated 253,872 0

349,286 0

0 0

1,076,018 1,677,176 1,420,664 Total Fund Balance 851,221 0

2,393,725 0

0 0

4,378,214 7,623,160 7,941,087 Total Liabilities and Fund Balance

$1,627,668 1196,156 12,393,725 10 1119,415 1111,340 14,421,206 18,869,510 39,975,101 38

City of Riverside Schedule 2 COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS For the Fiscal Year Ended June 30, 1987 Total Year Ended Housing &

Redevelop-Traffic Special Gas Revenue Community sent June 30, June 30, Library Safety Tax Sharing Development JTPA Agency 1987 1986 Revenues:

Property taxes

$1,468,401 80 10 so s0 so

$22,976 11,491,377 11,333,941 Fines and forfeits 0

1,036,677 0

0 0

1,036,677 1,186.906 Use of money and property 1,475 0

300,302 0

69,479 0

173,711 544,967 686,582 Intergovernmental revenues 4.719,129 0

3,145,715 510,592 2,055,342 95,758 322,590 10,869,126 14,508,336 Charges for service 87,250 0

0 0

0 87,250 75,220 Miscellaneous revenues 100,106 0

0 0

13,325 113,431 21,848 Total Revenues 6.376,361 1,036,677 3,466,017 510,592 2,124,821 95,758 532,602 14,122,828 17,812,831 Expenditures:

Current:

General government 0

0 0

0 161,321 95,758 132,046 389,125 1,042,406 Public safety 0

0 0

661,028 0

0 0

661,028 2,590,286 Highways and streets 0

1,036,677 730,000 0

0 0

0 1,766,677 1,916,906 Culture and recreation 6,998,429 0

0 0

0 6,998,429 6,392,167 Capital outlay 377,749 0

3,023,542 0

1,963,500 0

318,143 5,682,934 6,247,689 Total Expenditures 7,376,178 1,036,677 3,753,542 661.028 2,124,821 95,758 650,189 15,498,193 18,189,434 Excess Revenues Over(Under) Expenditures (999,817) 0 (307,525)

(150,436) 0 0

82,413 (1,375,365)

(376,603)

Other Financing Sources(Uses):

Operating transfer in 1,057,438 0

0 0

0 1,057,438 2,037,024 Operating transfer out 0

0 0

0 (250,488)

Total Other Financing Sources(Uses) 1,057,438 0

0 0

0 1,057,438 1,786,536 Exces o Reenus ad OherSoucesOve(U---)----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------

Excess of Revenues and Other Sources Over(Under)

Expenditures and Other Uses 57,621 0

(307,525)

(150,436) 0 0

82,413 (317,927) 1,409,933 Fund Balances - Beginning of Year 793,600 0

2,701,250 150,436 0

0 4,295,801 7,961,087 3,042,895 Prior period adjustments 0

0 0

0 3,488,259 Fund Balances - Beginning of Year, restated 793,600 0

2,701,250 150,436 0

0 4,295,801 7,941,087 6,531,154 Fund Balances - End of Year 1851,221 10 $2,393,725 80 so 80 84,378,214 87,623,160 87,941,087 39

City of Riverside chedule 3 COMBINING STATflENI OF REVENUES, EXPENDIIURES AND CHANGES IN FUND BALANCES Page I of 2 BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS For the Fiscal Year Ended June 30, 1987 Library traffic Safety Special Gas lai Variance Variance Variance favorable Favorable Favorable Budget Actual (Unfavorable)

Budget Actual (Unfavorable)

Budget Actual (Unfevoerable)

Revenues:

Property taxes 18,362,500 81,468,401 1105,901 s0 30 80 to g0 to Fines and forfeits 0

0 0

1,036,677 1.036,677 0

0 0

0 Use of money and property 1,500 1,415 125) 0 0

0 315,000 300,302 (1.6981 Intergovernmental revenues 5,121,469 4,719,129 (402,340) 0 0

0 2,925,058 3,145,715 220,651 Charges for service 90,500 87,250 (3,250) 0 0

0 0

11iscellaneous revenues 98,250 100,106 1,856 0

0 0

0 total Revenues 6,674,219 6,376,361 (297,858) 1,036,671 1,036,677 0

3,240,058 3,446,011 205,959 Expenditures:

current:

General government 0

0 0

Public safety 0

0 0

0 000 Highways and streets 0

0 0

1,036,677 1,036,677 0

120,000 730,000 (10,000)

Culture and recreation Y,827,315 6,998,429 828,886 0

0 0

0 capital outlay 91,039 317,19 113,290 0

0 0

5,524,106 3,023,542 2,500,564 Total Expenditures 8.318,354 7,376,178 942,176 1,036,671 1,036,617 0

6,244.106 3,753,542 2,490,564 Excess Revenues Over(Under) Expenditures (1,644,135)

(999,817) 644,318 0

0 0

(3,004,048)

(307,525) 2,696,523 Other Financing Sources(Uses):

Operating transfer In 1,057,438 1,057,438 0

0 0

Total Other Financing Sources(Uses) 1,057,438 1,057.438 0

0 0

Excess of Revenues and Other Sources Over(Under)

Expenditures and Other Uses (586,697) 57,621 644,318 0

0 0

(3,004,0181 (301,525) 2.696,523 Fund Balances - Beginning of Year 193,600 793,600 0

0 0

0 2,101,250 2,701,250 0

Fund Balances - End of Year 8206,903 1851,221 1644,318 10 s0 to (1302,798) 82,393,725 82,696,523 40

City of Riverside COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Schedule 3 BUDGET AND ACTUAL Page 2 of 2 ALL SPECIAL REVENUE FUNDS For the Fiscal Year Ended June 30, 1987 Revenue Sharing Housing & Community Development Job Training Partnership Act Redevelopment Agency Total Variance Variance Variance Variance Variance Favorable Favorable Favorable Favorable Favorable Budget Actual (Unfavorable)

Budget Actual (Unfavorable)

Budget Actual (Unfavorable) s0 to So so 0

0 0

N 0

122,976 122,976 S0 $1,385,476 11,491,377 1105,901 0

0 0

0

.0 0

0 0

1,036,677 1,036,677 0

0 0

0 10,000 69,479 59,479 0

0 0

173,711 173,711 0

500,211 544,967 44,756 488,586 510,592 22,006 4,300,392 2,055,342 (2,245,050) 0 95,758 95,758 322,590 322,590 0

13,158,095 10,849,126 (2,308,969) 0 0

0 0

90,500 87,250 (3,250) 0

0.

0 0

0 13,325 13,325 0

111,575 113,431 1,856 I--

488,586 510,592 22,006 4,310,392 2,124,821 (2,185,571) 0 95,758 95,758 532,602 532,602 0

16,282,534 14,122,828 (2,159,706) w----

O 0

0 412,563 161,321 251,242 (134,012) 95,758 (229,770) 132,046 132,046 0

410,597 389,125 21,472 747,696 661,028 86,668 0

0 0

747,696 661,028 86,668 O

0 0

0 1,756,677 1,766,677 (10,000) 0 0

0 0

7,827,315 6,998,429 828,886 0

0 0

3,877,724 1,963,500 1,914,224 0

0 0

318,143 318,143 0

10,211,012 5,682,934 4,528,078 747,696 661,028 86,668 4,290,287 2,124,821 2,165,466 (134,012) 95,758 (229,770) 450,189 458,189 0

20,953,297 15,498,193 5,455,104 (259,110)

(150,436) 108,674 20,105 0

(20,105) 134,012 0

(134,012) 82,413 82,413 0

(4,670,763) (1,375,365) 3,295,398 0

0 0007-------

0 0

1,057,438 1,057,438 0

0 0

1,057,438 1,057,438 0

(259,110)

(150,436) 108,674 20,105 0

(20,105) 134,012 0

(134,012) 82,413 82,413 0

(3,613,325)

(317,927) 3,295,398 150,436 150,436 0

0 0

4,295,801 4,295,801 0

7,941,087 7,941,087 0

(1108,674) 10 1108,674 120,105 10 (320,105) 1134,012

$0 (1134,012) 14,378,214 14,378,214 10 $6,327,762 17,623,160

$3,295,398 41

AEILVIEW OF THE CITY 42

City of Riverside COMBINING STATEMENTS DEBT SERVICE FUNDS Descriptions of the Debt Service Funds combined on the following financial statements are as follows:

General Obligation Bonds Fund - accounts for the accumulation of resources for the payment of.interest and principal on general obligation bonds sold by the City.

1915 Assessment District Fund - the City of Riverside acts as a Trustee for the debt service requirement of the Fairmount Business Park, Sandy Lane, and Canyon Springs Assessment Districts.

Riverside Parking Authority Lease Revenue Bond Fund - (Reporting Entity) accounts for the accumulation of resources for the payment of interest and principal on Lease Revenue Bonds sold by the Authority.

Riverside Civic Center Authority Lease Revenue Bond Fund -

(Reporting Entity) accounts for the accumulation of resources for the payment of interest and principal on City of Riverside portion of Lease Revenue Bonds sold by the Authority. (Excludes County of Riverside debt service requirements.)

1982 Mello-Roos Community Facilities Act Fund the City of Riverside acting on behalf of the Community Facilities District accounts for the bond proceeds that are reserved for payment of principal and interest on bonds sold for the District.

1983 Certificates of Participation Fund - accounts for the recording of debt service requirements for the issuing of Certificates of Participation.

Riverside Municipal Improvement Corporation Fund (Reporting Entity) accounts for accumulation of resources for payment of interest, principal, and trustee fees on Certificates of Participation issued by the Improvement Corporation.

Riverside Redevelopment Agency Tax Allocation Bond Fund - (Reporting Entity) accounts for the accumulation of resources for the payment of interest and principal on tax allocation bonds sold by the Agency.

43

City of Riverside Schedule COMBINING BALANCE SHEET ALL DEBT SERVICE FUNDS June 30, 1987 1982 Mello-Roos 1983 Riverside Total Seneral 1915 Civic Community Certificates Hunicipal Redevelop- -------------------

Obligation Assessment Parking Center Facilities of Improvement sent June 30, June 30, Bonds District Authority Authority Act Participation Corporation Agency 1987 1986 Assets and Other Debits Cash..

an

.nv.sme

.s

$466,558 13,748,849 0

10 $1,965,347 1106,693 11.845,680 188,014 18,221,141 16,360,075 Cash and investments at fiscal agent 0

0 240,308 11,794,144 0

350,196 3,396.379 5,144,605 20,925,632 19,484,135 Receivables, net 10,201 3,942 1,269 290,150 0

5,645 245,896 2,116 559,222 563,704 Prepaid expenses 0

119,390 0

0 0

0 119,390 0

Pr-ad p----------

Total Assets and Other Debits 1476,762 13,872,181 1241,577 $12,084,294 11,965,347 1462,534 15,487,955 15,234,735 129,825,385 126,407,914 Liabilities and Fund Equity Liabilities:

Accounts payable 0

12,683 t0 11,986 10 s0 t0

$0 14,669 13,270 Accrued liabilities 0

0 0

288,898 Advances from other funds 0

0 0

49,144 Total Liabilities 0

2,683 0

1,986 0

0 0

0 4,669 341,312 Fund Balance.

Reserve for debt service 476,762 3,869,498 241,577 12,082,308 1,965,347 462,534 5,487,955 5,234,735 29,820,716 26,066,602 Total Fund Balance 476,762 3,869,498 241,577 12,082,308 1,965,347 462,534 5,487,955 5,234,735 29,820,716 26,066,602 Total Liabilities and Fund Balance

$476,762 13,872,181 1241,577 112,084,294

$1,965,347 1462,534 15,487,955 I5,234,735 129,825,385 (26,407,914 44

City of Riverside Schedule 5 COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL DEBT SERVICE FUNDS For the Fiscal Year Ended June 30, 1987 1982 Total Mello-Roos 1983 Riverside Year Ended General 1915 Civic Community Certificates Municipal Redevelop- ----------------------

Obligation Assessment Parking Center Facilities of Improvement ment June 30, June 30, Bonds District Authority Authority Act Participation Corporation Agency 1987 1986 Revenues:

Property taxes

$225,642

$0 80 sO SO so

$0 $5,131,267 $5,356,909 $3,896,357 Special assessments 0

1,902,568 0

0 0

0 1,902,548 171,966 Use of money and property 0

18,198 304,114 2,520,898 0

633,904 3,015,062 266,149 6,758,305 5,663,160 Intergovernmental revenues 8,753 0

0 0

0 32,350 61,103 80,805 Total Revenues 234,395 1,920,746 304,114 2,520,898 0

633,906 3,015,042 5,429,766 14,058,865 9,790,268 Expenditures:

Current:

General government 0

1,146 2,350 16,002 0

1,493 375,452 0

394,443 156,549 Debt service:

Principal retirement 185,000 35,000 80,000 685,000 0

620,000 1,595,000 1,517,958 6,717,958 3,068,730 Interest 58,506 2,716,103 198,800 1,714,014 0

73,250 1,415,220 1,861,762 8,017,635 6,199,850 Total Expenditures 243,506 2,752,269 281,150 2,413,016 0

694,743 3,385,672 3,359,700 13,130,036 9,425,129 Excess Revenues Over(Under)

Expenditures (9,111)

(831,503) 22,964 107,882 0

(60,839)

(370,630) 2,070,066 928,829 365,139 Other Financing Sources(Uses):

Operating transfer in 0

66,642 0

0 1,965,347 0

2,622,770 (1,629,276) 2,825,285 6,308,206 Total Other Financing Sources(Uses) 0 66,642 0

0 1,965,347 0

2,422,770 (1,629,276) 2,825,285 6,308,206 Excess of Revenues and Other Sources Over(Under) Expenditures and Other Uses (9,111)

(765,061) 22,966 107,882 1,965,367 (60,839) 2,052,140 440,792 3,754,114 6,673,345 Fund Balance - Beginning of Year 485,873 4,634,559 218,613 11,976,426 0

523,373 3,435,815 4,793,963 26,066,602 19,406,439 Prior Period adjustments 0

0 0

(11,182)

Fund Balance - Beginning of Year, resta 485,873 4,634,559 218,613 11,974,426 0

523,373 3,435,815 4,793,943 26,066,602 19,393,257 Fund Balance - End of Year 1476,762 33,869,698 8261,577 812,082,308 81,965,367 1462,534 $5,687,955 15,236,735 129,820,716 $26,066,602 45

4 4A v,,

.W>

q, 76

City of Riverside COMBINING STATEMENTS CAPITAL PROJECTS FUNDS Descriptions of the Capital Project Funds combined on the following financial statement are as follows:

Capital Outlay Fund - accounts for the financial transactions for street and highway capital improvements.

Special Capital Improvements Fund - accounts for the financial transactions for park and street tree capital improvements.

Storm Drain Fund - accounts for the financial transactions for storm drain capital improvements.

Parking Facilities Replacement Fund - accounts for the City's responsibility for parking replacements from funds received in the sale of land assigned to City of Riverside Parking Authority.

Transportation Fund -

accounts for the financial transactions per Article 8 of the Transportation Development Act of 1971 (SB 325)

State of California for street and highway capital improvements.

(Designated by the City for capital outlay purposes.)

1983 Certificates of Participation Fund - accounts for the financial transactions of capital acquisitions from the proceeds of the sale of Certificates of Participation.

1915 Assessment District Fund - the City of Riverside acts as an agent in the receipt of Bonds proceeds and the buying of land and improvements for the special assessment districts.

This fund will expire as soon as all transactions have been made.

1982 Mello-Roos Community Facilities Act Fund - the City of Riverside acting on behalf of the Community Facilities District accounts for the financial transactions of bond proceeds and the acquisition and construction of various public improvements and facilities located in the District.

Riverside Municipal Improvement Corporation Fund (Reporting Entity) accounts for the financial transactions of funds received on the sale of Certificates of Participation for capital acquisition.

Redevelopment Agency Fund (Reporting Entity) accounts for the capital financial transactions of the City of Riverside Redevelopment Agency.

City of Riverside Schedule 6 COIBINING BALANCE SHEET ALL CAPITAL PROJECTS FUNDS June 30, 1987 1982 1983 Hello-Roos Riverside Total Special Parking Certificates 1915 Community Municipal Capital Capital Store Facilities Trans-of Assessment Facilities Improvement Redevelopment June 30, June 30, Assets and Other Debits Outlay Improvements Drain Replacement portation Participation District Act Corporation Agency 1987 1986 Cash and investments s0 16,362,274 81,052,319 8588,932 1708,993 10 17,997,323 116,688,005 1219,492 12,883,027 136,500.365 116,657,867 Cash and investments at fiscal agent 0

0 0

0 6,280,692 0

6,280.692 11,061,439 Receivables, net 1,658,314 0

0 10,070 14,419 0

103,910 22,136 0

1,392,195 6,201,044 4,890,813 Due from other governments 1,123,393 354,855 115,845 0

0 0

1,594,093 2,109,818 Deferred charges 0

0 0

15,993 15,993 15,030 Advances to other funds 0

0 0

525,550 525,550 75,057 Investments-land and Improvements held for disposal 0

0 0

2,907,974 2,907,976 1,075,390 Total Assets and Other Debits 12,781,707 16,717,129 11,168,164

$599,002 1723,12 S0 18.101,233 116,710,111 16,500,184 110,724,739 154,025,711 135,885,641 Liabilities and fund Equity Liabilities:

Cash (deficit balance) 1536,833 80 t0 to 10 t0 t0 to s0 80 1536,833 s0 Accounts payable 190,876 177,285 255,230 0

0 0

3,878 118,553 86,890 2,111,211 2,93,923 2,588,480 Accrued liabilities 0

0 0

256,804 256,408 724,974 Advances from other funds 0

0 0

2,035,355 2,035,355 1,245,498 Total Liabilities 727,709 177,285 255,230 0

0 0

3,878 118,553 86,890 4,402,970 5,772,515 6,518,952 Fund Balance:

Reserved 720,610 299,999 127,805 0

797 0

313,277 0

2,078,888 3,833,526 6,974,900 9,846,770 Unreserved:

Pesignated 1,134,783 5,614,198 676,214 0

632,841 0

5,487,940 16,591,588 4,267,558 0

34.405,122 17,762,095 Undesignated 198,605 625,647 108,915 599,002 89,774 0

2,296.138 0

66,848 2,888,245 6,873,174 3,757,627 Total Fund Equity 2,053,998 6,539,844 912,934 599,002 723,412 0

8,097.355 16,591.588 6,413,294 6,321,769 48,253,196 31,366,492 Total Liabilities and Fund Equity 12,781,707 16,717,129

$1,168,164 1599,002 1723,412 10 18,101,233 116,710,141 16,500,184 810,724,739 156,025,711 135,885,444 48

SCH8 City of Riverside Schedule 7 COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL CAPITAL PROJECTS FUNDS For the Fiscal Year Ended June 30, 1987 1982 Total 1983 Mello-Roos Riverside Year Ended Special Parking Certificates 1915 Community Municipal Redevelop- ----------------------

Capital Capital Storm Facilities Trens-of Assessment Facilities Improvement ment June 30, June 30, Outlay Improvements Drain Replacement portation Participation District Act Corporation Agency 1987 1986 Revenues:

Licenses and permits 10 11,886,673 S559,600 so so so t0 t0 10 10 $2,406,273 13,246,283 Use of money and property 0

0 0

62,778 89,859 2,599 1,270,227 64,384 435,123 535,618 2,460,588 2,998,522 Intergovernmental revenues 764,078 51,202 274,211 0

678,126 0

0 0

1,767,620 2,682,681 Iiscellaneous revenues 853,832 0

581,081 1,500 0

0 0

80,228 1,516,641 6,540,795 Total Revenues 1,617,910 1,897,875 1,414,895 68,278 767,985 2,599 1,270,227 64,384 835,123 615,846 8,151,122 15,428,281 Expenditures:

Current:

general government 0

0 0

1,102,664 1,102,664 7,252,036 Highvays and streets 0

0 0

0 185,217 0

0 0

185,217 176,078 Capital Outlay 1,771,657 1,337,682 1,324,023 50,000 1,174,164 337,694 8,317,879 132,292 4,251,933 5,817,286 24,514,610 26,299,831 Total Expenditures 1,771,657 1,337,682 1,324,023 50,000 1,359,381 337,69 8,317,879 132,292 4,251,933 6,919,950 25,802,491 33,727,945 Excess Revenues Over(Under)

Expenditures (153,747) 560,193 90,872 14,278 (591,396)

(335,095) (7,047,652)

(67,908) (3,816,810) (6,304,104)(17,651,369)(18,299,664)

Other Financing Sources(Uses):

Bond sale and long term debt proceeds 0

0 0

0 7,937,403 18,624,883 8,970,000 1,823,982 37,356,228 31,720,000 Operating transfer in 5,500 0

0 0

1,630 1,629,274 1,636,404 280,070 Operating transfer out 0

0 0

0 (66,442) (1,965,347) (2,422,770) 0 (4,454,559) (6,972,403)

Total Other Financing Sources(Uses) 5,500 0

0 0

7,870,961 16,659,496 6,548,860 3,453,256 34,538,073 25,027,667 Excess of Revenues and Other Sources Over(Under) Expenditures and Other Uses (148,247) 560,193 90,872 14,278 (591,396)

(335,095) 823,309 16,591,588 2,732,050 (2,850,848) 16,886,704 6,728,003 Fund Balances - Beginning of Year 2,202,245 5,979,651 822,062 584,724 1,314,808 335,095 7,274,086 0

3,681,264 9,172,617 31,366,492 22,004,058 Prior period adjustments 0

0 0

2,634,431 Fund Balances - Beginning of Year, restated 2,202,245 5,979,651 822,062 584,728 1,314,808 335,095 7,278,086 0

3,681,244 9,172,617 31,366,492 24,638,489 Fund Balances - End of Year 12,053,998 16,539,846 1912,934 1599,002 1723,412 10 18,097,355 116,591,588 16,413,294 86,321,769 $18.253,196 $31,366,492 49

City of Riverside Schedule 8 COMBINING STATEMIENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Page I of 2 BUDGET AND ACTUAL ALL CAPITAL PROJECT FUNDS For the Fiscal Year Ended June 30, 1987 Capital Outlay Special Capital Improvements Store Drain Parking facilities Replacement Transportation Variance Variance Variance Variance Variance Favorable Favorable Favorable favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)

Revenues.

Licenses and permits 10 to 0

801,767,804 1,846,673 878,869 1540,000 1559,600 119,600 10 t0 to NO so to Le of money and property 5,000 0

(5,000) 0 0

0 0

62,778 62,778 0

90000 89,859 (11)

Intergovernaental revenues 2,566,360 76,078 (1,800,282) 897,791 51,202 (846,592) 300,000 214214 (25,786) 0 0

0 753,000 678,126 (74,8741 Miscellaneous revenues 822,338 853,832 38,694 0

0 5B8,490 581,081 (7,409) 1,500 1,500 0

0 0

0 Total Revenues 3,391,698 1,617,910 (1,773,788) 2.665,598 1,897,875 (167,723) 1,428,690 1,41,895 (13,595) 66,278 64,278 0

863,000 767,985 (75,015)

Expenditures:

Current:

General government 0

0 0

1

(

Highways and streets 0

0 0

0 179,751 185,217 (5,4661 faoital outlay 5,395,429 1,771,657 3,623,772 8,402,307 1,337,682 7,064,625 2,309,139 1,324,023 985,116 50,000 50,000 0 1,932,296 1,174,166 758,132 Total Expenditures 5,395,429 1,771,657 3,623,772 8,402,307 1,337.682 7,064,625 2,309,139 8,324,023 985,116 50,000 50,000 0 2,112,047 1,359,381 752,666 Excess Revenues Oven(Under) Expenditure (2,003,731)

(153,747) 1,849,984 (5.736,7091 560,193 6,296,902 (880,669) 90,872 971,521 14,278 14,278 0 (1,269,067)

(591,396) 677,651 Other Financing Sources(Uses):

Bond sale and long term debt proceeds 0

0 0

Operating transfer in 5,500 5.500 0

0 0

Operating transfer out 0

0 0

Total Other financing Sources(Uses) 5,500 5,500 0

0 0

Excess of Revenues and Other Sources oerfonden) Expenditures and Other Uses (1,998,231)

(168,247) 1,849,984 (5,736,709) 560,193 6,296,902 (880,649) 90,872 971,521 14.278 14,278 0 (1,269,047)

(591,3961 677,651 find Balances - Beginning of Year 2,202,245 2,202,245 0 5,979,651 5,979,651 0

822,062 822,062 0

584,724 584,724 0 1,314,808 1,31,808 0

5-----------0----------------------

Funid Balances

-End of Year 1204,014 82.053,998 11,849,984 1242,962 86,539,866 16,296,902 (I58,587) 1912,931 8971,521 1599,002 1599,002 80 865,761 1723,412 1677,651 50

City of Riverside Schdule 8 COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Page 2 of 2 BUDGET AND ACTUAL ALL CAPITAL PROJECT FUNDS For the Fiscal Year Ended June 30, 1987 1982 Mello-Roos Riverside 1983 Certificates of Participation 1915 Assessment District Community Facilities Act Municipal Improvement Corporation Redevelopment Agency Total Variance Variance Variance Variance Variance Variance Favorable Favorable Favorable Favorable Favorable Favorable Budget Actual (Unfavorable)

Budget Actual (Unfavorable)

SO SO SO to SO So 80 SO so SO SO so to SO NO 12,307,804

$2,406,273 198,469 2,599 2,599 0

277,340 1,270,227 992,887 64,384 64,384 0

436,753 435,123 (1,630) 535,618 535,618 0

1,474,472 2,460,588 986,116 0

0 0

4,515,154 1,767,620 (2,747,534) 0 0

0 0

80,228 80,228 0

1,492,556 1,516,641 24,085 2,599 2,599 0

277,340 1,270,227 992,887 64,384 64,384 0

436,753 435,123 (1,630) 615,846 615,846 0

9,789,986 8,151,122 (1,638,864) 0 0

0 0

1,102.664 1,102,664 0

1,102,664 1,102,664 0

0 0

0 179,751 185,217 (5,466) 337,694 337,694 0 14,335,297 8,317,879 6,017,418 16,723,880 132,292 16,591,588 11,541,693 4,251,933 7,289,760 5,817,286 5,817,286 0

66,845,021 24,514,610 42,330,411 337,694 337,694 0 14,335,297 8,317,879 6,017,418 16,723,880 132,292 16,591,588 11,541,693 4,251,933 7,289,760 6,919,950 6,919,950 0

68,127,436 25,802,491 42,324,945 (335,095)

(335,095) 0 (14,057,957) (7,047,652) 7,010,305 (16,659,496)

(67,908) 16,591,588 (11,104,940) (3,816,810) 7,288,130 (6,304,104) (6,304,106) 0 (58,337,450) (17,651,369) 40,686,081 0

0 0

7,937,403 7,937,403 0 18,525,000 18,624,843 99,843 8,970,000 8,970,000 0

1,823,982 1,823,982 0

37,256,385 37,356,228 99,843 0

0 0

1,630 1,630 0

1,629,274 1,629,274 0

1,636,404 1,636,404 0

0 0

0 (66,442)

(66,442) 0 (1,965,347)

(1,965,347) 0 (2,422,770) (2,422,770) 0 0

0 0

(4,454,559) (6,454,559) 0 0------ -----

0-- 7-,8---

0-,9-6-----------70--9----------

6-53---1----65------9-6-9---,8--------.5-48---8---------5----:--60------------0-----------------------------------

0 0

0 7,870,961 7,870,961 0 16,559,653 16,659,496 99,843 6,548,860 6,548,860 0

3,453,256 3,453,256 0 34,438,230 34,538,073 99,843 (335,095)

(335,095) 0 (6,186,996) 823,309 7,010,305 (99,843) 16,591,588 16,691,431 (4,556,080) 2,732,050 7,288,130 (2,850,848) (2,850,848) 0 (23,899,220) 16,886,704 40,785,924 335,095 335,095 0

7,274,046 7,274,046 0

0 0

0 3,681,244 3,681,244 0

9,172,617 9,172,617 0

31,366,492 31,366,492 0

So SO 0

11,087,050 18,097,355

$7,010,305 (199,843) $16,591,588 $16,691,431 (1874,836) 16,413,294 17,288,130

$6,321,769 16,321,769

$0 17,467,272 148,253,196 140,785,924 51

POLICE BUILDING 52

City of Riverside COMBINING STATEMENTS ENTERPRISE FUNDS Descriptions of the enterprise funds combined on the following financial statements are as follows:

Electric Fund - accounts for the financial transactions of the City's electric distribution system.

Water Fund - accounts for the financial transactions of the City's water distribution system.

Airport Fund - (reporting entity) accounts for the financial transactions of the City's airport operations and the Riverside Airport Lease Company debt service accounts, a reporting entity.

Refuse Fund -

accounts for the financial transactions of the City's refuse collection and sanitary landfill operations.

Sewer Fund - accounts for the financial transactions of the City's sewerage system.

Transportation Fund -

accounts for the financial transactions of the City's Senior Citizens transportation system in accordance with the Article 4 of the Transportation Development Act of 1971 (SB 325) of the State of California. Urban Mass Transportation funds are also accounted for in this fund.

53

City of Riverside Schedule 9 COMBINING BALANCE SHEET PROPRIETARY FUND TYPES - ENTERPRISE FUNDS June 30, 1987 Total June 30, June 30, Assets and Other Debits Electric Water Airport Refuse Sever Transportation 1987 1986 Cash and investments 169.683,683

$34,257,490

391,532 11,763,859

$17,923,662 136,608 $124,056,834 1123,317,705 Cash and investments at fiscal agent 0

0 167,847 0

0 0

167,847 160,491 Receivables, net 17,051,759 2,686,791 100,369 1,149,048 1,795,196 0

22,783,161 19,613,751 Due from other funds 0

0 0

521,088 Due from other governments 0

0 687,760 0

0 91,680 779,440 1,083,410 Prepaid expenses 267,757 0

18,250 0

0 0

286,007 625,332 Deferred charges 1,243,912 169,908 0

0 217,454 0

1,631,274 1,536,494 Advances to other funds 505,063 250,100 0

0 0

0 755,163 755,163 Property and plant, net 147,041,138 78,868,971 6,345,821 1,375,638 52,089,973 205,708 285,927,249 277,528,908 Work-in-progress 15,661,626 4,959,243 908,762 93,412 10,998,851 0

32,621,894 20,791,735 Total Assets and Other Debits 1251,454,938

$121,192,503

$8,620,341

$4,381,957 183.025,134

$333,996 3469,008,869 1145,934,077 Liabilities and Fund Equity Liabilities:

Accounts payable S7,852,040 1469,752

$10,473

$540,553

$942,083 16,354 19,821,255 19,554,131 Accrued liabilities 579,379 48,008 2,875 26,236 34,764 88,778 780,040 464,585 Rate stabilization account 26,501,234 0

0 0

26,501,234 34,426,178 Liability for compensated absences 2,437,235 898,955 74,243 400,249 469,543 33,156 4,313,381 3,952,581 Long-term obligations payable 151,728,752 42,181,895 236,411 681,825 11,496,065 0

206,324,948 209,144,232 Total Liabilities 189,098,640 43,598,610 324,002 1,648,863 12,942,455 128,288 247,740,858 257,541,707 Fund Equity:

Contributed capital 16,986,226 48,649,066 6,121,451 0

26,071,077 205,708 98,033,528 89,043,932 Retained earnings:

Reserved 27,758,150 5,000,373 168,021 0

1,778,337 0

34,704,881 26,660,388 Unreserved 17,611,922 23,944,454 2,006,867 2,733,094 42,233,265 0

88,529,602 72,688,050 Total Retained Earnings 45,370,072 28,944,827 2,174,888 2,733,094 44,011,602 0

123,234,483 99,348,438 Total Fund Equity 62,356,298 77,593,893 8,296,339 2,733,094 70,082,679 205,708 221,268,011 188,392,370 Total Liabilities and Fund Equity 1251,454,938 1121,192,503

$8,620,341 14,381,957 183,025,134

$333,996 1469,008.869 8445,934,077 54

City of Riverside Schedule 10 COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS PROPRIETARY FUND TYPES - ENTERPRISE FUNDS For the Fiscal Year Ended June 30, 1987 Total Year Ended Electric Water Airport Refuse Sever Transportation June 30, 1987 June 30, 1986 Operating Revenues:

Charges for services 3115,358,024

$16,337,317 813,629 810,552,916 86,486,480 861,927

$148,808,293 1139,156,918 Rate stabilization account adJustment 7,924,944 0

0 0

7,924,944 (5,271,833)

Total Operating Revenues 123,282,968 16,337,317 13,629 10,552,916 6,484,480 61,927 156,733,237 133,885,085 Operating Expenses:

Personal services 4,875,155 2,316,765 265,667 2,509,864 3,200,291 373,923 13,541,665 12,021,863 Contractual services 1,216,750 283,208 1,184 5,950,428 67,116 3,345 7,522,031 7,656,932 Maintenance and operation 81,142,612 4,445,134 189,094 745,086 1,500,175 139,496 88,161,597 87,699,973 General operating expenses 3,631,153 3,663,131 186,533 404,831 506,442 52,065 8,444,155 7,005,963 Material and supplies 188,152 254.470 1,951 126,441 985,376 45,763 1,602,153 1,205,222 Insurance 179,634 83,383 35,564 18,984 20,844 8,226 346,635 542,054 Rent/lease payments 0

0 29,468 0

0 0

29,468 19,956 Depreciation 6,562,903 2,401,903 104,122 352,256 1,361,317 88,187 10,870,688 10,218,894 Total Operating Expenses 97,796,359 13,447,994 813,583 10,107,890 7,641,561 711,005 130,518,392 126,370,837 Operating Incose(Loss) 25,486,609 2,889,323 (799,954) 445,026 (1,157,081)

(649.078) 26,214,845 7,514,248 Nonoperating Revenues(Expenses):

Operating grants 0

0 0

564,148 564,148 673,083 Interest revenue 7,036,647 3,401,039 27,902 0

2,333,910 0

12,799,498 11,067,178 Sundry 169,329 240,840 24,844 5,415 642,506 5,335 1,088,269 638,676 Rent 0

0 344,242 0

0 0

344,242 325,348 Gain/loss on retirement of assets (102,059) 116,276 0

13,940 66,999 0

95,156 0

Connection fees 0

0 0

0 4,703,031 0

4,703,031 5,750,733 Interest expenses and fiscal charges (11,122,464)

(2,800,520)

(4,392)

(129,630)

(901,065) 0 (14,958,071)

(15,890,666)

General fund contributions (6,052,146)

(1,763,146) 0 0

0 0

(7,815,292)

(7,204,762)

Total Nonoperating Revenues(Expenses)

(10,070,693)

(805,511) 392,596 (110,275) 6,845,381 569,483 (3,179,019)

(4,640,390)

Income(Loss) Before Operating Transfers 15,415,916 2,083,812 (407,358) 334,751 5,688,300 (79,595) 23,035,826 2,873,858 Operating Transfers In(Out):

0 0

362,884 0

(1,371) 0 361,513 369,101 Net Income(Loss) Before Extraordinary Items 15,415,916 2,083,812 (44,474) 334,751 5,686,929 (79,595) 23,397,339 3,242,959 Extraordinary loss on the issue of advance refunding bonds 0

0 0

(17,763,156)

Net Incose(Loss) 15,415,916 2,083,812 (44,474) 334,751 5,686,929 (79,595) 23,397,339 (14,520,197)

Add depreciation on grant financed fixed assets charged to contributed capital 0

0 104,122 0

296,397 88,187 488,706 969,753 Total Increases(Decreases) in Retained Earnings 15,415,916 2,083,812 59,648 336,751 5,983,326 8,592 23,886,045 (13,550,444)

Retained Earnings Beginning of Year 29,956,156 26,861,015 2,115,240 2,398,343 38,028,276 (8,592) 99,348,438 112,898,882 Retained Earnings End of Year 045,370,072

$28,964,827 82,174,888

$2,733,094 864,011,602 0

1123,234,483

$99,368,438 55

City of Riverside Schedule 11 COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION PROPRIETARY FUND TYPES - ENTERPRISE FUNDS For the fiscal Year Ended June 30, 1987 Total Year Ended Electric Mater Airport Refuse Sewer Transportation June 30, 1987 June 30, 1986 Sources of Financial Resources:

Operations:.

Net income before extraordinary items (Schedule 10) 115,415,916 12, Expenses not requiring current outlay of financial resources:

Depreciation 6,562,903 2,401,903 104,122 352,258 1,361,317 88,187 10,870,688 10,218,894 Total Financial Resources from Operations 21,978,819 6,685,715 59,648 687,007 7,068,266 8,592 36,268,027 13,635,691 Increase in liability for compensated absences 269,925 11,953 12,801 24,952 37,262 3,928 360,801 367,305 Contributed capital and grants 1,680,964 6,812,200 870,209 0

D 116,928 9,678,301 9,737,653 Bond sale proceeds 0

0 0

0 153,625,000 Increase in long-term obligations 0

0 0

396,678 0

D 396,478 238,811 Total Sources of Financial Resources 23,929,7D8 11,309,868 962,658 1,108,037 7,085,688 127,668 4,503,607 177M36,260 Uses of Financial Resources:

Acquisition of fixed assets 10,35,523 7,696,663 912,828 837,92 11,186,304 116,928 31,099,188 17,999,309 Retirement of long-term obligations 1,576,212 1,068,231 60,786 0

693,996 0

3,159,223 107,616,000 Extraordinary loss 0

0 0

17,763,156 Total Uses of Financial Resources 11,930,735 8,762,896 953,618 837,962 11,678,298 116,928 364,258,611 13,378,665 Net Increase (Decrease) in Woring Capital 511,998,973 82,566,976 (910,956) 8270,95 (11,592,810) 812,520 10,265,196 136,005,795 Component Elements of Net Increasei(Decrease) In Working Capital:

Cash and investments 12,669,860 12,385,904 8228,083

$205,706 (84,81,625)

(8999)

S739,129 51,155,808 Cash and investments at fiscal agent 0

0 7,356 0

0 0

7,356 26,912 Receivabies and others, net 1,778,959 391,943 (358,239) 149,719 290,290 91,680 2,344,352 1,807,425 Prepald expenses (327,889)

(1,507)

(7,866)

(266)

(1,797) 0 (339,325)

(386,769)

Deferred charges 109,435 (9,322) 0 0

(5,333) 0 94,780 1,120,066 Accounts Payable 250,333 (181,992) 120,805 (74,624)

(379,256)

(2,390)

(267,124) 636,656 Accrued liabilities (186,669)

(18,052)

(1,095)

(10,040)

(15,289)

(27,771)

(258,916)

(200,288)

Rate stabilization account 7,924,964 0

0 0

7,924,946 (19,954,013)

Net Increase(Decrease) in Working Capital 811,998,973 82,566,974 (810,956) 8270,495

($4,592,810) 112,520 810,245,196 834,005,795 56

City of Riverside Schedule 12 MEMORANDUM STATEMENT OF INCOME AND EXPENSES BY FUNCTION ELECTRIC AND WATER FUNDS Year Ended June 30, 1987 Total Total Year Ended Year Ended Electric June 30, 1987 Water June 30, 1987 Operating Revenues:

Operating Revenues:

Electric Sales:

Water Sales:

Domestic sales

$43,521,675 Domestic and commercial sales

$14,833,003 Commercial and industrial sales 71,856,342 Irrigation sales 36,113 Municipal sales 2,917,973 Hydrant rental 225,857 Outside sales 4,108,170 Municipal sales 412,634 Miscellaneous sales 176,062 Total Electric Sales 122,404,160 Totil Water Sales 15,683,669 Other Operating Revenues 878,808 Other Operating Revenues 653,648 Total Operating Revenues 123,282,968 Total Operating Revenues 16,337,317 Less: Operating Expenses Before Depreciation:

Operating Expenses:

Less: Operating Expenses Before Depreciation:

Nuclear production 5,697,642 Operating Expenses:

Purchase pover 71,467,899 Source of supply expenses 1,703,939 Transmission expenses 3,617,705 Pumping expenses 1,361,638 Distribution expenses 3,153,755 Water treatment expenses 33,079 Customer account expenses 2,375,033 Transmission and distribution expenses 1,993,139 Power service expenses 357,456 Customer account expenses 159,076 Administration and general expenses 2,882,616 Administration and general expenses 1,178,043 Clearing and miscellaneous account expenses 1,881,350 Clearing and miscellaneous account expenses 4,617,177 Total Operating Expenses 91,233,456 Total Operating Expenses 11,046,091 Net Operating Income Before Depreciation 32,049,512 Net Operating Income Before Depreciation 5,291,226 Less: Depreciation 6,562,903 Less: Depreciation 2,401,903 Net Operating Income 25,486,609 Net Operating Income 2,889,323 Add: Nonoperating Income:

Add: Nonoperating Income:

Interest income 7,036,647 Interest income 3,401,039 Miscellaneous nonoperating income 169,329 Miscellaneous nonoperating income 240,840 Gain/loss on sale of assets 116,276 Total Nonoperating Income 7,205,976 Total Nonoperating Income 3,758,155 Total Income 32,692,585 Total Income 6,647,478 Less: Nonoperating Expenses:

Interest and fiscal charges revenue bonds 11,122,464 Less: Nonoperating Expenses:

General fund contributions 6,052,146 Interest and fiscal charges revenue bonds 2,800,520 Gain/loss on sale of assets 102,059 General fund contributions 1,763,146 Total Nonoperating Expenses 17,276,669 Total Nonoperating Expenses 4,563,666 Total Net Income

$15,415,916 Total Net Income

$2,083,812 57

FIR STATION 58

City of Riverside COMBINING STATEMENTS INTERNAL SERVICES FUNDS Descriptions of the internal services funds combined on the following financial statements are as follows:

Workers Compensation Fund -

accounts for the financial transactions of the City's self-insured workers compensation program.

Unemployment Compensation Fund -

accounts for the financial transactions of the City's self-insured unemployment compensation program.

Public Liability Fund -

accounts for the financial transactions of the City's self-insured public liability program.

Central Stores Fund -

accounts for the financial transactions for the centralizing of the City's inventory of supplies and the City's printing.

Central Garage Fund -

accounts for the financial transactions in the repair and maintenance of all city owned equipment except for police and fire vehicles.

59

City of Riverside Schedule 13 COMBINING BALANCE SHEET PROPRIETARY FUND TYPES

- INTERNAL SERVICES FUNDS June 30, 1987 Self Insured Total Workers Unemployment Public Central Central June 30, June 30, Assets and Other Debits Compensation Compensation Liability Stores Garage 1987 1986 Cash and investments

$2,580,732 1819,874 82,523,945 s0 1685,349 16,609,900

$5,794,201 Receivables, net 46,911 13,164 31.353 460 145,407 237,275 62.296 Prepaid expenses 175 0

0 0

0 175 622 Advances to other funds 1,248,338 0

140,066 0

0 1,388,404 716,815 Inventory 0

0 0

2,431,360 0

2,431,360 2,776,157 Property and plant, net 0

0 0

92,075 113,648 205,723 176,417 Total Assets and Other Debits S3,876,156 1833,018 12,695,364

$2,523,895 1964,404 110,872,837

$9,526,508 Liabilities and Fund Equity Liabilities:

Cash (deficit balance) 30 so t0 11,843,755 10

$1,843,755

$2,058,690 Accounts payable 186,028 17,702 64,947 118,724 47,928 435,329 240,319 Accrued liabilities 0

0 0

3,552 12,997 16,549 10,649 Claims and judgements payable 329,689 6,965 559,000 0

0 895,654 1,110,432 Liability for compensated absences 0

0 0

70,315 262,915 333,230 327,730 Advance from enterprise fund 0

0 0

755,163 0

755,163 755,163 Long-term obligations payable 0

0 0

20,204 0

20,204 47,284 Total Liabilities 515,717 24,667 623,947 2,811,713 323,840 4,299,886 4,550,267 Fund Equity:

Retained earnings:

Reserved 3,360,439 808,351 2,071,417 0

0 6,240,207 4,954,175 Unreserved 0

0 0

(287,818) 620,564 332,746 22,066 Total Fund Equity 3,360,439 808,351 2,071,617 (287,818) 620,564 6,572,953 4,976,261 Total Liabilities and Fund Equity 13,876,156 1833,018 12,695,364 12.523,895 1944.404 110,872,837 19,526,508 0---------------------------

60

City of Riverside Schedule 14 COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS PROPRIETARY FUND TYPES - INTERNAL SERVICES FUNDS For the Fiscal Year Ended June 30, 1987 Self Insured Total Year Ended Workers Unemployment Public Central Central Compensation Compensation Liability Stores Garage June 30, 1987 June 30, 1986 Operating Revenues:

Charges for services 11,873,662 1111,840

$1,621,326 8375,684 13,701,215 17,683.727 16,733,086 Total Operating Revenues 1,873,662 111,840 1,621,326 375,684 3,701,215 7,683,727 6,733,086 Operating Expenses:

Personal services 0

0 0

342,506 1,177,221 1,519,727 1,339,100 Contractual services 119,570 6,102 210,774 2,343 15,456 352,243 206,274 Maintenance and operation 0

0 0

100,574 1,800,959 1,901,533 1,449,304 General operating expenses 318,362 1,174 190,496 5,503 12,511 528,066 445,418 Material and supplies 0

0 0

7,031 350,008 357,039 68,452 Insurance 1,403,916 52,078 921,338 800 2,632 2,380,764 2,040,778 Depreciation 0

0 0

14,328 12,600 26,728 26,324 Total Operating Expenses 1,841,868 57,354 1,322,608 473,085 3,371,185 7,066,080 5,553,650 Operating Income(Loss) 31,814 5,486 298,718 (97,401) 330,030 617,647 1,179,636 Nonoperating Revenues(Expenses):

Interest revenue 363,637 81,912 248,194 0

0 693,563 592,838 Sundry 207,351 120 0

6,690 76,393 290,554 184,355 Total Nonoperating Revenues(Expenses) 570,788 82,032 248,194 6.690 76,393 984,097 777,193 Income(Loss) Before Operating Transfers 602,602 136,518 546,912 (90,711) 406,123 1.601,741 1,956,629 Operating Transfers In(Out) 0 0

0 0

(5,032)

(5,032) 0 Net Income(Loss) 602,602 136,518 546,912 (90,711) 401,391 1,596,712 1,956,629 Retained Earnings Beginning of Year 2,757,837 671,833 1,526,505 (197,107) 219,173 4,976,241 3,019,612 Retained Earnings End of Year 33,360,439 1808,351 12,071,617 (3287,818) 8620,564 16,572,953 14,976,241 61

City of Riverside Schedule 15 COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION PROPRIETARY FUND TYPES - INTERNAL SERVICES FUNDS For the Fiscal Year Ended June 30, 1987 Self Insured Total Year Ended iorkers Unemployment Public Central Central Compensation Compensation Liability Stores Garage June 30, 1987 June 30, 1986 Sources of Financial Resources:

Ope tionc (Schedule S) 602,602

$136,518 1566,912

($90,711) i401,391 11,596,712 11,956,629 Expenses not requiring current outlay of financial resources:

Depreciation 0

0 0

14,328 12,400 26,728 26,324 Total Financial Resources From Operations 602,602 136,518 546,912 (76,383) 413,791 1,623,440 1,980,953 Increase in liability for compensated absences 0

0 0

0 14,756 14,756 14,326 Total Sources of Financial Resources 602,602 136,518 546,912 (76,383) 428,547 1,638,196 1,995,279 Uses of Financial Resources:

0001

, 3 4 99 6 0 43

, 5 Acquisition of fixed assets 0

0 0

11,038 44,996 56,034 35,254 Decrease in liability for compensated absences 0

0 0

9,257 0

Decrease in long-term obligations 0

0 0

22,877 4,203 27,080 2,038 Total Uses of Financial Resources 0

0 0

43,172 49,199 92,371 37,292 Net Increase(Decrease) in torking Capital 1602,602

$136.518

$566,912 (1119,555)

$379,348

$1,545,825

$1,957,987 Component Elements of Net Increase(Decrease) in W1orking Capital:

Cash and investments

($776,884) 8125,179 81,104,771

$214,935 1254,490 1922,491 11,564,859 Cash and investments at fiscal agent 108,143 0

0 0

0 108,143 (32,175)

Receivables and others, net 13,037 10,166 19,834 460 131,482 174,979 305,080 Prepaid expenses 175 0

0 (409) 172 (621 622 Inventory 0

0 0

(344,797) 0 (364,797) 381,135 Accounts Payable (177,304)

(7,087)

(20,365) 11,325 (1,964)

(195,395) 208,443 Advances (to)from other funds 1,083,917 0

(412,328)

(1) 0 671,588 (755,163)

Accrued liabilities 0

0 0

(1,068)

(4,832)

(5,900)

(5,785)

Claims and Judgements payable 351,518 8,260 (145,000) 0 0

214,778 290,971 Net Increase(Decrease) in Working Capital 3602,602 8136,518 1546,912

($119,555) 1379,348 11,545,825 81,957,987 62

City of Riverside COMBINING STATEMENTS OF CHANGES IN ASSETS AND LIABILITIES - ALL AGENCY FUNDS Description of All Agency Funds on the following financial statements are as follows:

Deferred Compensation, Parking District Number

One, Special Deposits, 1911 Act Improvement and Payroll Clearing Funds - are used to account for resources received and held in trust by the City or its fiscal agent to be expended in accordance with the conditions of the trust or agency involved.

63

City of Riverside Schedule 16 COMBINING BALANCE SHEET AND STATEMENT OF CHANGES IN ASSETS AND LIABILITIES ALL AGENCY FUNDS For the Fiscal Year Ended June 30, 1987 Balance Balance Beginning End of Year Additions Deductions of Year DEFERRED COMPENSATION FUND Total Assets and Other Debits - Cash and investments at fiscal agent

$11,942,272

$3,589,915

$747,768 116,784,419 Total Liabilities - Accrued Liabilities

$11,962,272

$3,589,915 1747,768 114,784,419 PARKING DISTRICT NO. I FUND Total Assets and Other Debits - Cash and investments at fiscal agent 1102.902 s0 1102,902 10 Liabilities - Accounts payable

$2,902 10 12,902 30

- Accrued liabilities 100,000 0

100,000 0

Total Liabilities 1102,902 So 1102,902 10 SPECIAL DEPOSITS FUND Total Assets and Other Debits - Cash and Investments 11,953,136

$32,073,923 131,567,630 12,459,429 Total Liabilities - Accrued Liabilities

$1,953,136 132,073,923 131,567,630

$2,459,29 1911 ACT IMPROVEMENT FUND Total Assets and Other Debits - Cash and Investments 131,260 191,651

$92,611 130,303 Total Liabilities - Accounts Payable 131,260 191,651 192,611

$30,303 PAYROLL CLEARING FUND Total Assets and Other Debits - Cash and Investments 12,639,460 179,096,671 179,019,612

$2,716,519 Total Liabilities - Accrued Liabilities 12,639,460

$79,096,671 S79,019,612

$2,716,519 ALL AGENCY FUNDS Combining Assets and Other Debits Cash and investments 14,623,856 1111,262,268 1110,679,853

$5,206,251 Cash and investments at fiscal agent 12,065,174 3,589,915 850,670 14,784,19 Total Combining Assets and Other Debits 116,669,030

$1114,852,163 1111,530,523 119,990,670 Combining Liabilities Accounts Payable

$34,162 S91,654

$95,513 130,303 Accrued liabilities 16,634,868 114,760,509 111,435,010 19,960,367 Total Combining Liabilities

$16,669,030

$114,852,163 3111,530,523

$19,990,670 64

City of Riverside ACCOUNT GROUP SCHEDULES Descriptions of the account groups included in the following schedules are as follows:

General Fixed Assets - account for fixed assets not used in proprietary fund operations.

General Long-Term Obligations -

account for the unmatured long-term indebtedness of the City and related entities.

65

Schedule A City of Riverside SCHEDULE OF GENERAL FIXED ASSETS - BY SOURCES June 30, 1987 (In Thousands of Dollars)

General Fixed Assets:

Land

$17,685 Buildings and improvements 33,776 Other improvements 13,453 Machinery and equipment 22,650 Total General Fixed Assets

$87,564 Investment in General Fixed Assets from:

Lease Agreements

$29,443 Gifts 1,290 Operating revenue 31,103 General obligation bonds 4,969 County contracts and grants 1,025 State grants 9,981 Revenue sharing 381 Other federal grants 3,252 Housing and Community Development grants 6,120 Total Investment in General Fixed Assets

$87,564 66

City of Riverside Schedule 8 SCHEDULE OF GENERAL FIXED ASSETS - BY FUNCTION AND ACTIVITY June 30, 1987 Other Land Structures Improvements Equipment Total General Government:

General government t0 SO so 13,487,979

$3,487,979 Building maintenance 0

0 0

139,644 139,64 City hall 2,332,450 9,807,207 0

700,752 12,840,409 Total General Government 2,332,450 9,807,207 0

4,328,375 16,468,032 Public Safety:

Police 602,367 1,055,362 0

6,397,091 6,054,820 Fire 347,444 1,646,265 206,470 2,356,050 4,556,229 Building inspection 0

0 0

8,091 8,091 Disaster preparedness 0

0 0

62,319 62,319 Animal regulation I

28,096 0

3,907 32,004 Total Public Safety 949,812 2,729,723 206,470 6,827,458 10,713,463 Highvays and Streets:

Public vorks 1,750,000 1,260,000 0

202,802 3,212,802 Street maintenance 0

0 0

1,306,020 1,306,020 Parking 63,400 0

14,267 8,306 85,973 Shops and corporation yard 184,000 950,191 323,750 5,045,194 6,503,135 Parking authority 4,351,433 2,373,491 388,245 0

7,113,169 Communications 0

0 0

179,478 179,478 Total Highvays and Streets 6,348,833 4,583,682 726,262 6,741,800 18,400,577 Recreation and Culture:

Park and.recreation 5,827,379 5,645,724 12,891,714 901,662 25,266,479 Huseum 17,500 276,043 1,092 1,347,797 1,642,432 Libraries 389,125 2,300,779 78,886 1,837,687 4,606,477 Exhibit hall 1,659,466 7,980,779 0

592,865 10.233,110 Total Recreation and Culture 7,893,470 16,203,325 12,971,692 4,680,011 41,748,498 Redevelopment Agency:

Redevelopment agency 161,279 0

0 72,010 233,289 Total Redevelopment Agency 161,279 0

0 72,010 233,289 Total General Fixed Assets 817,685,844 833,323,937 813,904,424 S22,649,654 887,563,859 67

City of Riverside Schedule C SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS For the Fiscal Year Ended June 30, 1987 General General Fixed Assets Fixed Assets Beginning End of Year Additions Deductions of Year General Government:

General government 12,694,874 2807,850 314,745

$3,487,979 Building maintenance 141,590 6,911 8,857 139,644 City hall 12,884,511 0

44,102 12,860,409 Total General Government 15,720,975 814,761 67,706 16,468,032 Public Safety:

Police 5,603,490 836,598 385,268 6,054,820 Fire 4,411,749 173,053 28,573 4,556,229 Building inspection 7,307 784 0

8.091 Disaster preparedness 64,885 2,612 5,178 62,319 Animal regulation 32,390 317 703 32,004 Total Public Safety 10,119,821 1,013,364 419,722 10,713,463 Highways and Streets:

Public works 3,214,740 14,076 16,014 3,212,802 Street maintenance 1,230,244 105,956 30,180 1,306,020 Parking 85,973 0

0 85,973 Shops and corporation yard 6,076,861 654,530 228,256 6,503,135 Parking authority 4,843,169 2,270,000 0

7,113,169 Comaunications 133,947 45,531 0

179,678 Total Highways and Streets 15,584,934 3,090,093 274,450 18,400,577 Recreation and Culture:

Park and recreation 23,478,109 1,972,634 184,264 25,266,479 Huseus 1,562,582 79,850 0

1,642,432 Libraries 4,340,670 268,688 2,881 4,606,477 Exhibit hall 10,238,521 0

5,411 10,233,110 Total Recreation and Culture 39,619,882 2,321,172 192,556 41,748,498 Redevelopment Agency:

Redevelopment agency 225,983 7,306 0

233,289 Total Redevelopment Agency 225,983 7,306 0

233,289 Total General Fixed Assets 181,271,595 17,246,696 1954,432

$87,563,859 68

ScheduleD0 City of Riverside COMBINING STATEMENT OF GENERAL LONG-TERM 08LIGATIONS June 30, 1987 (In Thousands of Dollars)

Total Amounts Available and to be Provided for the General Municipal Redevelopment June 30, June 30, Payment of General Long-Term Obligations Improvements Agency 1987 1986 Amounts available in debt service fund

$17,812

$6,774

$5,235 129,821 126,067 Amounts to be provided 9,642 46,921 16,910 113,273 83,702 Total Amounts available and to be provided for the payment of General Long-Term Obligations 167,256 353,695

$22,115 1163,094 1109,769 General Long-Ters Debt Payable Accrued Liabilities 113,566 113,566

$12,333 Capital Leases Payable:

Riverside Civic Center Authority 29,325 29,325 30,010 Riverside Parking Authority 2,800 2,800 2,880 Riverside Municipal Improvement Corp.

20,250 20,250 12,875 Long-Term Obligations:

General obligation bonds payable

$1,095 1,095 1,280 Certificates of participation 315 315 935 Special assessments bonds payable 52,285 52,285 25,160 Redevelopment Agency tax allocation bonds payable

$22,145 22,145 22.710 Contracts payable 179 179 326 Notes payable - Calif. Energy Commission Loan 1,134 1,134 1,262 Total General Long-Term Obligations Payable 167,254 153,695 122,145 1163,094 3109,769 69

4ii 70

STATISTICAL TABLES 71

Table I City of Riverside GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION Last Ten Fiscal Years Fiscal General Public Highways &

Culture &

Debt Lease Year Government Safety Streets Recreation Services Payments Total 1978 14,763,123

$15,016,516

$7,677,883 88,391,276 1727,882 13,475,800

$40,052,478 1979 5,369,768 11,220,268 9,601,885 9,272,469 766,868 1,986,500 41,217,758 1980 5,162,602 18,811,399 10,291,233 11,748,232 740,143 0

46,753,609 1981 9,716,589 20,502,992 14,178,577 13,009,335 4,525,841 1,672,200 63,605,531 1982 9,730,797 22,117,228 12,103,448 12,714,558 4,456,788 1,400,800 62,553,619 1983 10,766,425 23,890,018 14,043,549 12,210,005 1,262,600 551,300 65,703,927 1984 19,048,672 25,638,162 14,689,570 11,111,525 4,809,701 919,137 79,247,067 1985 20,202,362 28,707,796 20,655,053 17,751,314 6,714,261 1,234,864 95,268,653 1986 10,081,087 34,929,334 14,429,739 16,951,996 9,268,580 1,402,053 117,062,787 1987 31,408,984 37,660,077 15,540,948 19,211,091 12,735,593 0

116,356,693

1. The table includes all general governmental type of expenditures from the General Fund, Special Revenue Fund, Debt Service Fund and Capital Projects Fund.

2. The table includes all other reporting entities from 1981 forward.

3. Capital outlay expenditures and lease payments for 1987 have been recorded in functions.

4. Source: City of Riverside Annual Financial Report.

Table 2 City of Riverside GENERAL REVENUES BY SOURCES Last Ten Fiscal Years Licenses Inter-Charges Fiscal and Fines and Use of Governmental for Utility Miscellaneous Year Taxes Permits Forfeitures Money Revenue Services Contributions Revenues Total 1978 116,878,027 16.329,233 5903,911 8911,177 815,160,584 81,267,538

$4,25,053 8466,837 84,165,393 1979 16,889,208 1,771,601 1,094,658 1,611,171 16,160,170 1,124,864 1,796,178 412,716 43,863,896 1980 19,806,593 2,123,064 1,158,549 2,171,110 18,262,101 1,135,209 5,145,463 352,110 50,154,499 1981 22,420,853 1,192,720 1,175,444 4,598,610 19,213,768 1,471,850 5,162,347 1,233,760 59,769,352 1982 25,797,136 2,169,599 1,285,169 5,331,822 20,116,111 1,494,890 5,615,715 1,812,320 63,922,762 1983 27,807,841 3,025,663 1,350,357 5,162,113 17,115,636 1,844.786 5,976,179 3,959,105 66,541,683 1984 32,589,716 4,381,516 1,465,281 6,800,706 22,630,332 2,301,617 6,241,000 4,104,558 80,514,726 1985 36,030,781 6,709,232 1,632,195 8,852,846 17,976,085 3,101,677 6,666,838 6,299,696 85,269,148 1986 39,704,116 6,374,958 1,628,881 11,959,526 24,438,137 3.197,756 7,204,712 7,687,511 102,195,657 1987 46,015,781 5,956,776 1,459,880 13,045,064 20,251,102 3,177,691 7,815,292 1,946,603 99,968,189

1. The table includes all general governmental type of revenues from the General Fund, Special Revenue Fund, Debt Service Fund and Capital Projects Fund.

2. The table includes all other reporting entities from 1981 forward.

3. Source:

City of Riverside Annual Financial Report.

Tab1e 3 City of RiversideTalA TAX REVENUE BY SOURCESCiyoRvesd PROPERTY TAX LEVIES AND COLLECTIONS LaLst Ten Fiscal Years General Transient Special Fiscal total Property Sales and Property Utility Street Light Occupancy Assessments Total Percent Prior Years Collection:

Year Oases TO!

Use Te! Transfer Ta Users Tax Excise Tax Franchises Ta Levied Fiscal total Tax Collections of Levies Levies Total Tay as Percent o Tear L~evies Current Levies Collected Collected Collections Current Levies 1978

'16.878,027 1,826,129 18,052,714 1216.807 13,027,895 1328,372 1229,278 1196,832 to 1979 16,889,208 3,038,333 9,321,980 287,402 3,349,860 334,076 276,152 2M4,744 36,661 1978 11799.461 11,730.198 98.61 195.931 14,126,129 100.6t 1980 19,806.593 4,308.538 10,781,347 183,651 3,567,372 342.587 376,814 246,284 0

1979 3,030,721 2,966,26 97.8t 74.087 3,038,333 100.3%

1981 22,420,853 6,171,579 10.956,185 187.918 3,937,980 345,935 551.830 262,464 6,962 1980 4,365,235 4,181,144 95.82 127.39&

4,308,538 98.72 1982 25.797,136 7,636,816 12,108,938 126,961 4,648,411 345.230 538,542 337,358 54,850 1981 6,303,981 6,070,173 96.3%

101,406 6,171,579 97.9%

1983 27,807,844 8.122,895 11,428,176 136,168 6,569,712 344,839 754,716 408,753 42,585 1982 7,616290 7,327.796 96.2%

309,050 7,636,8 100.31 1984 32,589,716 8,805.210 14,144,996 256,305 7,312,315 408,183 944.433 559,611 158,863 1983 8.014,428 7.889.400 98.42 233,495 8,122,895 101.42 1985 36,144,281 9,489,944 16.453,188 260,281 7,960,790 413,500 1.081,274 606,310 178,994 1984 8.822.567 8,557,249 97.02 217,961 8,805,210 99.82 1986 40,146,704 10,571,149 18;101,323 356,250 8,592,395

&42.558 1,219,294 691,769 171.966 1985 9.596,631 9,238,169 96.32 251,775 9.489,944 98.92 1987 46,015,781 12,823,629 19,509,742 426,410 9,168,023 444,843 969,136 771,450 1,902,548 1986 11.256,348 9,795.806 87.02 332.785 10.128.591 90.0%

1987 11,966,743 12,334,950 103.12 389,800 82,724,750 106.31k

1. the table includes other reporting entities from 1981 forvard.

2.

Street Light Excise Tax is recorded on financial statements as part of charges for current services.

2. Source: Riverside County Auditor Controller's Office.

3. Source: City of Riverside Annual Financial Report.

Table 5

City of Riverside ASSESSED VALUE OF TAXABLE PROPERTY Last Ten Fiscal Years ExemptionT Total oet Total Fiacal Secured Unsecured

Veteran, Taa Rate Exemptions Assessed Year Roll Roll Total Church, etc.

Purposes Noacooners Valuations 1978 82, 138,381,532 1169,324,920 12.307,706,452 (1138,145,6116)112,169,560,1136 (1283,588,120111,885,972,716 1979 2,431.515,104 198,927.804 2.630,442,908 172,606,7091 2.457,836,204 (301,703,832 7

2 0156.192,372 1980 2,858,144,761 270.927.804 3,129,072,568 (227.531.336) 2 1901.541,232 (321,750,352) 2,579,790,886 1981 3,139.726,524 142,711,380 3,282.437,904 (230,850,6361 3,051,547,268 (223,390,3521 2,828.196,916 1982 3.438,831,783 169,372,192 3,608,204,275 (320,861,450) 3.287,342,825 (221,733,536 3.065,609,289 1983 3,748,372,668 202711,703 3,951,084,371 (368,723,9898 3,582.360,382 (219,790,3389 393628570,04.

1981 3,990,351,907 214,323,304 4,204,675,211 (418,160,7471 3,786,514,461 (218,502,7891 3,56,931,675 1985 4,282,481,837 244.286,380 4,526,768,217 (459,165.195 1

4,067,603.022 (2189672,1288 3,848,930,894 1986 4,714,172,306 260,693,106 4,974,861,412 (494,616,605 9,480.248,887 (218,643,991) 4,261,604,816 1987 5,374,864,776 323,276,554 5,698,141,330 (634,808.533 1

5,063,332,797 (220,517,7871 4,812,815,010

1.

Assessed at full cash value.

2. Source: Riverside County Assessor's Office.

73

Table 6 Table 7 City of Riverside City of Riverside PROPERTY TAX RATES-ALL OVERLAPPING GOVERNMENTS COMPUTATION OF DIRECT AND OVERLAPPING Last Ten Fiscal Years GENERAL OBLIGATION DEBT As of June 30, 1987 Fiscal Basic County, School County of Year City School Levy City Districts Riverside Other Total Percentage 1978

$.00 1.404

$1.51925 1.63600

$.20400 22.76325 Applicable to City of Riverside 1979 1.00

.013

.01125

.00750

.08300 1.11475 City of Riverside' Share of Debt 1980 1.00

.010

.08975

.00500

.08525 1.19000 Direct Debt:

1981 1.00

.080

.08950

.00500

.06750 1.24200 City of Riverside 100.00%

$1,095,000 1982 1.00

.022

.07814

.00082

.07110 1.17206 1983 1.00

.015

.06679

.00041

.06960 1.14960 Overlapping Debt:

1984 1.00

.010

.05676

.00063

.11151 1.17870 School Districts:

1985 1.00

.008

.03704

.00030

.08839 1.13373 Riverside Unified 88.261 4,326,740 1986 1.00

.005

.03255

.00025

.05586 1.09366 Alvord Unified 100.00%

2,055,000 1987 1.00

.004

.02819 0.00000

.06788 1.08007 Moreno Valley Unified

.791 7,584 Jurupa Unified

.00%

5

1.

Represents one of 52 tam districts within the City of Riverside.

Other Districts:

Flood Zone No. 1 73.33%

13,291,063

2. Secured property taxes are due in two installments: November I and February 1. They La Sierra Community Service 100.00t 30,000 becoae delinquent December 10 and April 10, respectively.

Retropolitan Water District 48.09%

258,545,786 Western Municipal Mater District 21.98 - 97.521 132,688

3. Unsecured property taxes are due August 31 and become delinquent September 1.

Edgesount 6.721 5,05p Home Gardens 8.80%

4,400

6. Delinquent penalty is 10%.

Total Overlapping Debt 278,396,316

5. If taxes become delinquent, they are deeded to the state and may be sold by the county tax collector for taxes due plus 1 1/2% per month redemption fee after the third Total Direct and Overlapping Debt

$279,691,316 month of being delinquent.

6. All property taxes are collected by the County of Riverside with 1/4 of 1% of the assessment

'Determined by ratio of assessed valuation of property subject to debt service going to the County for collection fee.

taxation in overlapping agency to valuation of property subject to taxation in the City of Riverside.

7.

Rates are based on 1100 of assessed valuation.

8. Source:

Riverside County Auditor-Controller's Office.

Source: Riverside County Auditor-Controller's Office and Other District Offices.

74

Table 8 City of Riverside COMPUTATION OF LEGAL DEBT MARGIN FOR CITY GENERAL OBLIGATION BONDS As of June 30, 1987 Assessed Valuation, June 30, 1987

$5,063,332,797 Debt limit 15.00t of Assessed Valuations

$759,499,920 Amount of debt applicable to debt limit:

Total bonded debt 1331,363,000 Less assets in debt service funds

$476,762 Other deductions allowed by law:

Revenue bonds 203.270,000 Redevelopment Agency tax allocation bonds 22,145,000 Lease revenue bonds 32,318,000 Certificates of participation 20,250,000 Special assessment bonds 52,285,000 330.744,762 Total General Obligation Debt Applicable to Debt Limit 618,238 Total Debt Margin, June 30, 1987 1758,881,682 Debt limit set by City Charter at 15t of assessed valuation for general obligation bonds.

Source: Riverside County Assessor's Office and City of Riverside Annual Financial Report.

Table 9 City of Riverside RATIO OF NET GENERAL OBLIGATION BONDED DEBT TO ASSESSED VALUE AND BONDED DEBT PER CAPITA Last Ten Fiscal Years Ratio of Net Less Bonded Debt Net Bonded Fiscal Assessed Gross Debt Service Net To Assessed Debt per Year Population Value Bonded Debt Fund Bonded Debt Value Capita 1978 156,309 12,169,560,836 14,810,000 8133,473 84,676,527

.0022t 829.92 1979 162,800 2,457,836,164 4,240,000 512,723 3,727,277

.0015%

22.89 1980 Federal Census 165,087 2,861.200,556 3,665,000 495,439 3,169,561

.0011t 19.20 1981 170,876 3,051.587,268 3,035,000 334,482 2,700,518

.0009%

15.80 1982 171,964 3,287,342.825 2,420,000 338,362 2,081,638

.0006t 12.11 1983 175,793 3,582,360,382 2,005,000 396,669 1,608,331

.00046 9.15 1984 179,709 3,786,516,466 1,740,000 451,074 1,288,926

.0003%

7.17 1985 183,419 4,067,603,022 1,460,000 457,934 1,002,066

.0002%

5.46 1986 192,153 4,480,248,807 1,280,000 502,891 777,109

.0001%

6.04 1987 199,021 5,063,332,797 1,095,000 476,762 618,238

.0122t 3.11

1. Population figures supplied by the State of California Finance Department except 1980.

2. Assessed value is full cash value.

75

Table 10 City of Riverside RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL OBLIGATION BONDED DEBT TO GENERAL EXPENDITURES Last Ten Fiscal Years Total Ratio of Debt Service Fiscal Total Debt General To General Expenditures Year Principal Interest Service Expenditures 1978

$545,000

$182,882

$727,882

$40,090,091 1.82%

1979 570,000 196,868 766,868 41,217,758 1.86%

1980 575,000 165,143 740,143 46,753,609 1.58%

1981 630,000 144,142 774,142 60,867,912 1.27%

1982 615,000 121,218 736,218 62,553,619 1.18%

1983 415,000 98,811 513,811 65,604,871

.78%

1984 265,000 86,080 351,080 79,247,067

.44%

1985 280,000 75,482 355,482 95,268,653

.37%

1986 180,000 66,493 246,493 117,062,787

.21%

1987 185,000 58,506 263,506 116,356,693

.21%

1. Table includes reporting entities from 1981 forward.

2. Source: City of Riverside Annual Financial Report.

76

Table 11 City of Riverside SCHEDULE OF REVENUE BOND COVERAGE Last Ten Fiscal Years Net Revenue Debt Service Requirements Fiscal Gross Available for Year Revenue Expenses Debt Service Principal Interest Total Coverage Electric 1978 543,926,478 135,592,986 18,333,492 1580,000 5596,940

$1,176,940 7.1 1979 47,907,159 40,411,621 7,495,538 1,250,000 568,940 1,818,940 4.1 1980 57,519,511 49,729,396 7,790,115 1,300,000 512,433 1,812,433 4.3 1981 71,694,625 61,083,454 10,611,171 900,000 453,955 1,353,955 7.8 1982 84,575,605 67,718,813 16,856,792 570,000 943,309 1,513,309 11.1 1983 92,126,398 72,172,629 19,953,769 570,000 791,753 1,361,753 16.7 1984 93,125,595 75,968,389 17,157,206 450,000 1,019,680 1,469,680 11.7 1985 110,764,841 91,140.646 19,624,195 980,000 11,608,632 12,588,632 1.6 1986 108,820,377 90,747,196 18,073,183 1,300,000 11,913,347 13,213,347 1.4 1987 130,386,885 91,233,456 39,153,429 1,650,000 11,003,778 12,653,778 3.1 Water 1978 19,267,674

$4,172,385 15,095,289 1715,000 11,591,482 12,306,482 2.2 1979 10,198,723 4,504,733 5,693,990 901,000 1,928,772 2,829,772 2.0 1980 11,977,707 5,260,589 6,717,118 935,000 1,876,822 2,811,822 2.4 1981 12,752,058 6,372,171 6,379,887 940,000 1,820,671 2,760,671 2.3 1982 12,477,550 7,064,644 5,412,906 1,105,000 1,764,911 2,869,911 1.9 1983 12,458,118 7,433,686 5,024,432 1,035,000 1,705,577 2,740,577 1.8 1984 14,326,764 7,776,319 6,548,425 1,105,000 1,652,887 2,757,887 2.4 1985 15,493,477 9,291,849 6,201,628 1,140,000 1,578,166 2,718.166 2.3 1986 18,433,607 10,018,886 8,414,721 1,145,000 1,968,765 3,093,765 2.7 1987 20,095,472 11,046,091 9,049,381 1,180,000 2,791,198 3,971,198 2.3 Sever 1978

$2,759,272 11,496,235 11,263,037 160,000 165,620 1125,620 10.1 1979 2,933,859 1,521,231 1.412,628 65,000 118,926 183,926 7.7 1980.

3,434,130 1,683,587 1,750,543 120,000 226,609 346,609 5.1 1981 6,911,388 2,238,158 4,673,230 150,000 215,874 365,874 12.8 1982 7,274,141 2,946,913 4,327,228 165,000 205,786 370,786 11.7 1983 9,007,052 3,369,409 5,637,643 175,000 692,795 867,795 6.5 1984 6,908,667 3,815,937 3,092,530 235,000 1,150,290 1,385,290 2.2 1985 7,616,591 4,654,938 2,961,653 265,000 1,104,562 1,369,542 2.2 1986 14,525,533 5,510,515 9,015,018 445,000 915,638 1,360,638 6.6 1987 14,230,926 6,280,244 7,950,682 465,000 901,065 1,366,065

5.8 Source

City of Riverside Annual Financial Report.

77

Table 12 Table 13 City of Riverside City of Riverside SPECIAL ASSESSMENT COLLECTIONS SALARIES AND SURETY BONDS OF PRINCIPAL OFFICERS Last Ten Fiscal Years For Fiscal Year Ended June 30, 1987 Percentage Amount of Fiscal Current Current Assessments of Collections Total Outstanding Name Title Annual Salary Surety Bond Year Assessments Due Collected to Amount Due Assessments Douglas G. Weiford City Manager 187,840 350,000 1978 125,316 325,316 100.00 1214,374 Bill 0. Carnahan Public Utilities Director 90,095 50,000 1979 50,313 50,313 100.0%

164,061 John E. oodhead City Attorney 80,040 50,000 1980 15,574 15,574 100.0%

148,487 Robert C. Wales Assistant City Manager 79,525 50,000 1981 24,134 24,134 100.0%

124,353 Lawrence E. Paulsen Assistant City Manager 79,525 50,000 1982 74,139 74,139 100.0%

50,214 L. L. Richardson Chief of Police 75,180 50,000 1983 42,585 42,585 100.00 7,629 Doug Greene Fire Chief 67,560 50,000 1984 158,863 158,863 100.00 1,349,898 Harold E. Brewer Finance Director 72,180 200,000 1985 178,994 178,994 100.0%

1,470,000 Merle G.

Gardner Planning Director 65,928 50,000 1986 171,966 171,966 100.00 25,160,000 Dee W. Bachman Park and Recreation Director 65,928 50,000 1987 1,902,548 1,902,548 100.0%

33,285,000 Linda M.

Mood Library Director 62,629 50,000 Murray A. Bywater Airport Director 47,389 50,000 Alice A.

Hare City Clerk 47,459 50,000 Source: City of Riverside Assessment Register and Annual Financial Report.

William G. Dougall Historic Resources Director 46,103 50,000 Berry Beck Public Morks Director 73,800 50,000 Based on salary rates of June 30, 1987.

Source: City of Riverside Finance Department.

Table 14 Table 15 City of Riverside City of Riverside PROPERTY MARKET AND ASSESSED VALUES PRINCIPAL TAX PAYERS Last Ten Fiscal Years Southern California Edison (1) 15,684,035 Fiscal Pacific Bell (1) 2,654,732 Year Market Value Assessed Value Southern California Gas Co.

(1) 2,286,266 Daon Corporation (1) 2,103,908 1978 12,169,560,836 12,169,560,836 ASO (2) 1,642,926 1979 2,457,836,204 2,457,836,204 Moreno Industrial Development (2) 1,243,752 1980 2,861,200,556 2,861,200,556 Canyon Springs North Venture (2) 1,085,087 1981 3,051,587,268 3,051,587,268 Canyon Mall Venture (2) 861,124 1982 3,287,342,825 3,287,342,825 Rohr Industries Inc.

(2) 703,160 1983 3,582,360,382 3,582,360,382 Hughes Riverside Limited (2) 292,865 1984 3,786,514,464 3,786,514,464 1985 4,067,603,022 6,067,603,022 Source: County of Riverside Tax Collector (The County of Riverside assesses and collects 1986 4,480,248,807 4,480,248,807 all property taxes for the City).

1987 5,063,332,797 5,063,332,797 (1)

Only a portion is in the City of Riverside.

(2)

Located within the City of Riverside.

Source:. Riverside County Assessor's Office.

78

FSTABtL7 Table 16 City of Riverside SCHEDULE OF INSURANCE IN FORCE Amount of Self-Insured Expiration Type of Insurance Type of Coverage Co-Insurance Coverage Deductible Date Property:

All property and contents Fire/ECE and Vill.

EODA, Airport Lease Company

$94,668,800 15,000 7/1/87 Rental income Civic Center Authority and Parking Authority Special Coverage:

Automotive vehicles fire/theft and comprehensive 4,000,000 1,000,000 8/12/87 Helicopters All risk 360,000 18,000 1/7/88 Li tiability:

Airport General liability 50,000,000 1/7/88 Helicopters General liability 50,000,000 1/7/88 General city General liability Self-Insured Boiler and lachinery:

City Hall & Raincross Square General liability 1,000,000 250 7/1/87 All other locations General liability 500,000 250 7/1/87 Employee Benefits:

Air Travel AD and D 100,000 Continous Dental Dental Full Continous Group Health:

Kaiser Hospital/medical full Continous Aetna Hospital/medical Unlimited Continous Health Net Hospital/medical Full Continous Inland Health Plan Hospital/medical full Continous Life:

All employees Life, AD and D 4,000 -

10,000 Continous Management employees Life, AD and 0 30,000 - 150,000 Continous Workers compensation Industrial injury Unlimited 1,000,000 1/8/88 Crime and dishonesty, employees Dishonesty, disappearance and 1,000,000 5,000 5/1/88 destruction Official bonds flayor and lembers of City Council, each 3,000 Upon election Controller/Treasurer 200,000 5/1/88

1. Workers' Compensation Insurance - The City of Riverside claim adjustment service contract is Provided by Wear and Associates.

The City has set up 1329,689 vhich vas the best estimate the City could make for estimated claims and adjustments at June 30, 1987. The City has a reserve of 83,360,439 at June 30, 1987.

2. Unemployed Compensation Insurance claim adjustment service contract is provided by R. E.

Harrington, Inc. The City has set up estimated claims and judgement balance of 16,965 based on the City's best estimate. The City has a reserve of 3808,351 at June 30, 1987.

3. Public Liability Insurance claim adjustment service contract is provided by Crawford and Company Insurance Adjiljters.

they have provided the City with a schedule stating that the balance in estimated claims and judgements should be $559,000 at June 30, 1987.

The City has a reserve of $2,071,417 at June 30, 1987.

6. Public Offical Bond is required by Section 611 of the City Charter, the amount specified by Ordinance No. 4401.

5. Source: City of Riverside Finance Department.

79

lable 17 Page I of 7 City of Riverside MISCELLANEOUS STATISTICAL DATA Geographic Location - Southern California approximately 50 miles Taxable Retail Sales:

east of Los Angeles and 90 miles north of San Diego, contiguous to desert and mountain regions.

1987

$1,699,304,000 1980 994,266,000 Altitude - 851 feet at City Hall, 3900 Main Street. Residential 1970 307,378,000 areas vary from 800 to 1200 feet.

1960 137,326,000 Area and Population:

Mles of Streets - 724 Year Area, Square Miles Population 1987 76.68 199,021 Miles of Sewers - 1,000 1980 71.95 165,087 1970 71.52 140,089 Miles of Street Lights 724 1960 43.59 83,714 1950 39.20 46,399 Traffic Signals - 191 1940 39.20 34,696 1930 39.20 30,645 Municipal Services and Facilities (budgeted positions shows in full 1920 39.20 15,212 time decimal equivalents):

1910 39.20 15,212 1900 7,793 Police Budgeted positions 394.02 1890 4,683 Stations 1883 2,000 est.

Helicopters 3

1987 population per square mile = 2,595 Fire Budgeted positions 187.50 Stations 10 Average Rainfall - 8.51 inches Active apparatus 18 Reserve apparatus 3

Climate, Minimum and Maximum:

Training facilities Spring 40-100 Degrees Summer 46-104 Degrees Library Budgeted Positions 176.74 Fall 31-101 Degrees Library branches inside city 5

Wlinter 28-81 Degrees outside city 23 Bookmobiles 2

Date of Incorporation - 1883 Museum Budgeted positions 12.00 Fora of Government - Council/Manager Fixd exhibits 65 Special exhibits 9

City Charter Adopted - 1952 Reference library volumes 2,300 Number of Budget Positions (shoun in full time decimal equivalents):

Parks and Recreation Budgeted positions 213.76 General Government Departments 266.22 Total Park ucreage 1,415.09 Police Department 39&.02 Community centers 14 Fire Department 187.50 Playgrounds 19 Public Works Department 325.80 Public swimming pools 7

Library Department 176.74 Softball and baseball diamonds 2?

Park and Recreation Department 213.76 Historical Resources Department 12.00 Public Utilities Department 346.50 Airport Department 7.00 1,927.56 80

Table 17 Page 2 of 2 City of Riverside MISCELLANEOUS STATISTICAL DATA Auditorius and Alvord Unified School District:

Exhibit Hall Municipal auditorium seating Senior High Schools 3

capacity 1,814 Enrollment 31143 Exhibit hall Intermediate Schools (6-8) 3 fleeting and showrooms (300 to Enrollment 2,420 20,800 square feet each) 7 Elementary Schools (Kindergarten-)

8 Assembly capacity 40-3,000 Enrollment 5,854 Municipal Airport Budgeted positions 7

Riverside Coummunity College District:

Passengers, annually 0

Riverside City College Flights, annually 117,797 Enrollment (day) 9,296 Length of main runway, in feet 5,400 Enrollment (extended) 5,882 Hunicipal Utilities Budgeted positions - Electric 225 State of California

- Water 119.5 University of California, Riverside Number of accounts - Electric 79,354 Enrollment 5,726

- Water 56,146 School for the Deaf files of overhead distribution Enrollment 369 system 630 United States Miles of underground system 300 Sherman Institute (Government School for Annual consumption (est.)

- ksh 1,190,544,468 Indians)

- cu. ft.

24,416,577 Enrollment 527 Number of fire hydrants 5,310 Other Schools Source of supply:

California Baptist College Electric - Southern California Edison, California Enrollment 689 Dept. of Water Resources, Salt River Lom Linda University, La Sierra Campus Project, Utah Power & Light, Los Enroliment 1,936 Angeles Dept. of Public Works, Nevada Power, Public Service - Ne Mexico, Private or Parochial Schools (Kindergarten-12) 32 San Diego Gas & Electric, Deseret, and others Water - City owned sources, supplemented as necessary by Metropolitan Water District Education -Riverside is included In the Riverside Unified School District and the Alvord Unified School District which also serves the County ares southwest of the City.

Riverside Unified School District:

SSenior High Schools Enrollment 8,162 I

eddle School S7-8) 5 Enrollment 3,811 Elementary Schools (Kinderrarten-6) 23 Enrollment 14,500 Source:

icarious City Departments and School Districts.

8 1

Table 19 Table 18 City of Riverside City of Riverside CONSIRUCTION, BANK DEPOSITS, AND PROPERTY VALUE DEMOGRAPHIC STATISTICS Last fen fiscal Years Last Ten Fiscal Years Per Capita fedian Education Level School Unemployment Comserical Construction (1) Residential Construction (1)

Property Value (3)

Per aptein EuainLvlSho Unal-et_-----------------------------

Fiscal Population Income Age in Years of Enrollment Rate Bank Deposits (2)

Commercial Residential Year it)

(2)

(2) formal Schooling 13)

W6 5)Fiscal Number of Value Number at Value Bann epst (2 Co Mer ilReidnt a Year Units (in Thousands)

Units (in thousands)

(in Millions)

(in Billions) 1978 156.309 18,255 27.0 12.9 55,555 6.9%

978 1,451 146,844 4,079

$153,579 1474 N/A NA 1979 162,800 8,912 27.5 13.0 57,377 6.6t 1979 1,664 43,320 311 16,971 513 882 1,770 1980 165,087 10,96 27.9 13.0 55,765 7.6%

1980 1,166 55,30 752 31.486 520 1041 1,971 1981 170,876 11,436 28.4 13.1 57,772 8.5%

1981 1,068 48,801 522 31,738 520 1,159 2,138 1982 171,966 11,706 28.9 13.1 57,199 12.%

1981 1,068 58,882 22 468 581 1,190 2,337 1983 175,793 11,972 29.3 13.2 56,566 11.61 1982 853 59,932 273 26.68 9

1,103 2,413 19£ 7.0 26829.7 13.2 56,180 9.1%

t983 747 59,969 692 46,758 639

,0

,1 1984' 179,709 12,448 2.1325,89.

98403629 1,828 119,983 703 1,403 2,413 1985 183,419 12,529 30.1 13.3 57,516 8.0%

1984 102 36,239 1,828 19,984 773 1,747 2,762 11 9.13 l,290 29.6 13.3 62,116 7.2%

1985 1,185 100,863 2,113 190,684 773

,6

,6 1986 192,153 N29 30.6 13.6 62,295 6.4%

1986 1,108 86,984 2,222 197,006 812 2,072 3,037 19887 199021 NA 30.1 13.4 625.

1,263 107,627 2,338 166,009 1,127 2,488 3,340 Sources:

Sources:

II) State Department of Finance (1) City Planning Department

12) The State of California Department of Development and (CACI's) 1986 Sourcebook of Demographics and Buying (2) Riverside Chamber of Coamerce Power for Every lip Code in the USA. Not available until January 1988.

(3) Estrapolated from 1970 and 1980 Federal Census (3)

County Land Use Statistical Recap Report (6)

Individual School Administrative Offices

15) Economic Development Department 82

ML13331B446

Text

5.8 Source

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