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HomeMy WebLinkAbout10- City Clerk CITY OF SAN BERNARDINO—REQUEST FOR COUNCIL ACTION From: Rachel G. Clark, CIVIC Subject: Receive and File - 1998-1999 Annual Audit of the Water Department's Dept: City Clerk Water and Sewer Utilities 11 Council Meeting: 3/6100 Date: February 16, 2000 a a L Synopsis of Previous Council Action: Similar action taken each year following completion of the annual Audit Report. Recommended Motion: That the Mayor and Council receive and file the 1998-1999 Annual Audit of the Water Department's Water and Sewer Utilities. cA_zj 12. Uc,�� Signature Contact person: Rachel Clark Phone: Fxt 51n7 Supporting data attached: Yes Ward: FUNDING REQUIREMENTS: Amount: Source: (Acct. No.) (Acct npsrri to inn) Finance: Council Notes: Agenda Item Nolo 3/&/aoao Y STAFF REPORT TO: Honorable Mayor and Members of the Common Council FROM: Rachel G. Clark, CMC, City Clerk DATE: February 16, 2000 SUBJECT: 19998-1999 Audit Report for Water Department Water and Sewer Utilities BACKGROUND INFORMATION: The firm of Soren McAdam Bartells has completed the 1998-1999 Annual Audit of the Water Department's Water and Sewer Utilities. This report was presented to and accepted by the Board of Water Commissioners at their meeting of January 25, 2000. RECOMMENDED MOTION: That the Mayor and Council receive and file the completed 1998-1999 Annual Audit of the Water Department's Water and Sewer Utilities. Rachel G. Clark, CMC City Clerk A MUNICIPAL WATER DEPARTMENT OF TFIE CITY OF SAN BERNARDINO, CALIFORNIA Financial Statements And Supplementary Information With Independent Auditors' Report For the Year Ended June 30, 1999 WA WA I LWA SOREN ♦ , ♦ BARTELLS CERTIFIE PUBLIC ACCOUNTANTS, lNC. TABLE OF CONTENTS Page Independent Auditors' Report I Combining Financial Statements Combining Balance Sheet 3 Combining Statement of Revenues and Expenses 7 Combining Statement of Changes in Fund Equity 8 Combining Statement of Cash Flows 9 Notes to Combining Financial Statements I1 Supplementary Information Board of Water Commissioners and Organization 30 Schedule of Expenditures of Federal Awards 31 Schedule of Insurance Coverage 32 Schedule of Water System Demographics 34 Schedule of Water Production 35 Schedule of Water Rates 36 Schedule of Sundry Water Statistical Data 38 Schedule of Service Area and Customers 40 Schedule of Sewer Rates and Statistics 41 Schedule -Certificates of Participation, San Bernardino Public Safety Authority 44 Schedule— 1998 Refunding Sewer Revenue Certificates of Participation 46 Series 1998A Water and Wastewater Revenue Bonds 48 Bond Schedule -General Obligation Waterworks Bonds, Series C 49 Year 2000 Issue 50 MICHAEj,R.ADCOCK.C.PA. THOMAS E.AHERN.C.P.A. GARY L.CHRISTENSON,C.PA . LINDA S.DEVLIN,C.P.A. RHEE ELIKER,C.PA. . MEMBERS WING K.LAU,C.P.A. DOUGLAS R.MrADAM,C.PA. BARBARA D.RASMUSSEN,C.P.A. POLARIS arrP.RNATIONAL JAMES L SOREN,C.PA. - KIRK G.STITT,C.P.A. NORA L.TEASLEY.C.P.A. SOREN McADAM BARTELLS CERTIFIED NCCOUI A OF DAVID P.TATTLE,C.P.A. CERTIFIED PUBLIC ACCOUNTANTS CINDY a.WATTS.c.e.A. CERTIFIED PUBLIC ACCOUNTANTS, INC. eaIVATE COMPANIES PRACTICE SECTION Independent Auditors' Report To the Board of Water Commissioners Municipal Water Department of the City of San Bernardino, California We have audited the accompanying combining financial statements of the Municipal Water Department of the City of San Bernardino, California as of and for the year ended June 30, 1999 as listed in the table of contents. These financial statements are the responsibility of the Municipal Water Department's management. Our responsibility is to express an opinion on these financial statements based on our audit We did not audit the financial statements of the West End Water Development, Treatment and Conservation Joint Powers Authority, the San Bernardino Public Safety Authority, or the San Bernardino/Colton Rapid Infiltration Extraction Project which represent 28.0 and 4.0 percent of the total assets and operating revenues, respectively, of the Municipal Water Department. Those financial statements were audited by other auditors whose reports have been furnished to us, and our opinion, insofar as it relates to the amounts included for these organizations and project, is based on the reports of the other auditors. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. As discussed in Note 1, the financial statements present only the Municipal Water Department and are not intended to present fairly, in all material respects, the financial position of the City of San Bernardino, California, and the results of its operations and cash flows of its proprietary fund types, in conformity with generally accepted accounting principles. -1- 2155 Chicago Avenue,Suite 100 ♦ Riverside,CA 92507-2203 ♦ (909)68 3-0672 ♦ Fax(909)686-7780 ♦ E-mail:amb-rlv@worldnecaa.na 2068 Orange Tree lane,Suim 100 ♦ P.O.Box 8010 ♦ Redhnds,CA 92375-1210 ♦ (909)798-2222 ♦ In(909)7989772 ♦ E-mail:smbrcdlands@woddna.aa.na In our opinion, based on our audit and the reports of other auditors, the financial statements referred to above present fairly, in all material respects, the financial position of the Municipal Water Department of the City of San Bernardino, California as of June 30, 1999, and the results of its operations and its cash flows for the year then ended, in conformity with generally accepted accounting principles. The accompanying supplementary information as listed in the table of contents is not a required part of the basic financial statements but is provided for purposes of additional analysis. The information contained on pages 30 through 49 has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. The year 2000 information on page 50 is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures which consisted principally of inquiries of management regarding the methods of measurement and presentation of supplementary information. However, we did not audit the information and do not express an opinion on it. In addition, we do not provide assurance that the Department is or will become year 2000 compliant, that year 2000 remediation efforts will be successful in whole or in part, or that parties with which the Department does business are or will become year 2000 compliant. SOREN ♦ McADAM ♦ BARTELLS Certified Public Accountants, Inc. Riverside, California November 12, 1999 4yinVS evlm, CPA -2- 1 MUNICD'AL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Combining Balance Sheet June 30, 1999 (With Comparative Information for Jute 30, 1998) Water Sewer Combined Utility Utility Eliminations 1999 1998 ASSETS Current assets Cash and cash equivalents $ 1,470,517 $ 2,923,598 $ 4,394,115 $ 5,3(5,725 { Investments 5,511,922 10,603,501 16,115,423 12,830,242 E Accounts receivable, net 2,869,415 2,404,088 5,273,503 6,582,597 Interband receivable 132,501 11,083 $(143,584) Related parties receivable 396,287 554,594 950,881 351,132 Inventory 1,339,639 1,339,639 1,375,457 Prepaid expenses 115,250 170,476 285,726 291,563 tt 4 Total current assets 11 835,531 16,667,340 (143,584) 28,359,287 26,746,716 Restricted assets Cash and cash equivalents 809,776 809,776 1,451,573 Investments 1,220,355 43,498,724 44,719,079 8,633,657 Notes receivable 32,914 32,914 219,414 Interest receivable 3,087 812,845 815,932 124,864 1 Related parties receivable 758 136,728 137,486 34,261 j Taxes receivable 15,716 15,716 16,107 Other 1,992 1.992 1,991 jr l Total restricted assets 2051.684 44.481.211 - 46.532,895 10.481.867 tr F t The accompanying notes are an integral part of these financial statements. -3- i Water Sewer Combined Utilitv Utility Eliminations 1999 1998 UABE ITIFS AND FUND EQUITY Current liabilities Current portion of notes payable $ 1,462,114 $ 1,462,114 $ 1,414,486 Current portion of obligations under capital leases 94,694 Accounts payable $ 2,011,120 716,852 2,727,972 2,353,583 Interfund payable 11,083 132,501 $(143,584) Related parties payable 735,456 334,314 1,069,770 1,094,964 Accrued expenses 285 184,980 185,265 203,018 Accrued compensation 1,571,747 669,363 2,241,110 2,037,750 Deposits for performance bonds and other charges subject to ref tod 974 974 647 Consumer deposits, advance payments, and credit available 360,783 360,783 370,241 Total current liabilities 4,691,448 3,500,124 (143,584) 8,047,988 7,559383 Current liabilities payable from restricted assets Current portion of certificates of participation 1,004,077 1,004,077 943,480 Current portion of bonds payable 857,510 857,510 811,085 Accounts payable 32,159 32,159 30,256 Accrued interest payable 82,890 1,666,975 1,749,865 1,059,003 Consumer deposits 1_204,242 1,204,242 871,886 Total current liabilities payable from restricted assets 2,176,801 2,671,052 4,847,853 3,715,710 r t MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA r Combining Balance Sheet June 30, 1999 r (With Comparative Information for June 30, 1998) Water Sewer - Combined Utility Utility Eliminations 1999 - 1998 Property, plant, and equipment, and water rights - f Property,Plant, and equipment,and water rights $89,743,810 $164,009,527 $253,753,337 $250,663,626 Less accumulated depreciation and amortization (35,716.282) (35.040.037) (70.756319) (64.783.718) 54,027,528 128,969,490 - 182,997,018 185,879,908 Construction in progress 12 637,279 6,347.528 18.984,807 17.659.626 Total property, plant, and S equipment,and water rights, net 66 664.807 135,317.018 - 201.981.825 203.539.534 i Other assets Idle assets 306,446 306,446 254,860 Issuance costs of certificates of participation and bonds, net of accumulated amortization 139.144 628,697 767.841 332.968 Total other assets 445.590 628.697 1,074.287 587.828 Total assets $ 80.997,612 $197,094,266 $(143.584) $277,21812L.1241.355.945 i. 1 i The accompanying notes are an integral pan of these financial statements. -5- Water Sewer Combined Litlllty Utility Eliminations 1999 1998 Long-term debt Notes payable - $ 30,235,183 $ 30,235,183 $ 31,649,670 Obligations under capital leases 84+694 Certificates of participation 71,665,304 71,665,304 36,487,958 Bonds payable $ 7,362300 7362,500 8,173,584 7,362,500 101,900,487 109,262,987 76,395,906 Less current portion of notes payable (1,462,114) (1,462,114) (1,414,486) Less current portion of obligations under capital leases (94+694) Less current portion payable from restricted assets f857.51 (1,004,077) (1,861,587) (1,754,5651 Total long-term debt 6,504,990 99,434296 - 105,939286 73,142,161 Total liabilities 13,373,239 105,605,472 $(143,584) 118,835,127 84,417254 Fund equity Contributed capital 48,165,082 62,327,757 110,492,839 105,862,563 Retained earnings 19,459,291 29 161,037 48,620,328 51,076,128 Total fund equity 67-624,373 91 488,794 - 159,113,167 156,938,691 Total liabilities and fund equity $80 997,612 $197,094,266 $(143,584) 3277,948,294 3241 355 945 -6- r MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Combining Statement of Revenues and Expenses For the Year Ended June 30, 1999 (With Comparative Information for the Year Ended June 30, 1998) f Water Sewer Combined ({ Utility Utility Eliminations 1999 1998 Operating revenues Charges for services $14,002,706 $16,908,880 $ (2,231) $30,909,355 $29,184,925 Other operating revenues 1,618,802 153,698 (914,461) 858,039 1,031,209 Total operating revenues 15 621,508 17,062,578 (916,692) 31,767,394 30,216.134 Operating expenses Administration and customer service 4,407,015 4,407,015 3,425,776 Engineering, operations, and distribution administration 162,502 1,094,536 (642,020) 615,018 720,286 Plant operations 3,132,311 5,593,608 (18,445) 8,707,474 8,087,926 Maintemnce 706,639 2,245,803 (188,036) 2,764,406 2,157,612 Environmental control 316,497 (1,079) 315,418 191,988 Distribution 2,411,542 (47) 2,411,495 2,189,241 Engineering 1,055,386 1,055,386 912,797 General,administration, and overhead 2,605,964 2,244,626 (67,239) 4,783,351 5,045,921 Depreciation and amortization 2,565,002 4,372,398 6,937,400 6,895,258 Bad debt expense 80,391 47,813 128,204 85,833 i Total operating expenses 17,126,752 15,915,281 (916,866) 32,125,167 29,712,638 t Operating income(loss) (I 505.244) 1,147,297 174 (357,773) 503,496 i Nonoperating revenues (expenses) investment income 521,288 2,905,565 3,426,853 1,929,601 Rental income 41,172 28,965 70,137 79,925 Net loss on capital assets and inventory items (67,752) (49,324) (117,076) (10,204) lnterest expense and fiscal charges (357,411) (5,114,507) (5,471,918) (3,946,396) i Amortization of issuance costs (15,033) (49,203) (64,236) (18,873) All other-net 54,265 4,122 (174) 58,213 256,043 f Total nonoperating revenues 1 (expenses) 176,529 (2,274,382) (174) (2,098,027) (1,709,904) Net loss $0,328,715) $(1,127,085) $ $(2,455,800) $(1206.408) The accompanying notes are an integral part of these financial statements. -7- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Combining Statement of Changes in Fund Equity For the Year Ended June 30, 1999 (With Comparative Information for the Year Ended June 30, 1998) Water Sewer Combined Utility Utility 1999 1998 Contributed capital Balance,beginning of year $46,236,035 $59,626,528 $105,862,563 $101,659,996 Add nomperating credits and adjustments . Charges to property owners for capital purposes: Contributions in aid of construction 183,549 86,500 270,049 182,946 Impact fees for service connections 384,750 384,750 432,650 Impact fees for capacity rights- net of repurchases, refunds,and writeoffs 2,509,110 2,509,110 679,062 Fast trunk line fees 125,099 125,099 102,251 Grants from government agencies for capital improvements 1,360,748 (19,480) 1,341,268 2.805,658 Balance, end of year 48,165,082 62,327,757 110,492,839 105,862,563 Retained earnings Balance,beginning of year 20,788,006 30,288,122 51,076,128 52,282,536 Net loss (1,328,715) (1 127.0&5) (2,455,800) (1 206 408) Balance,end of year 19,459,291 29,161,037 48,620,328 51,076,128 Total equity, end of year $67,624,373 $91,488,794 $159,113,167 $156,938,691 The accompanying notes are an integral part of these financial statements. -8- i i MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Combining Statement of Cash Flows For the Year Ended June 30, 1999 (With Comparative Information for the Year Ended June 30, 1998) Water Sewer Combined { Utility UtLliry Eliminations - 1999 1998 Cash flows from operating activities Operating income(loss) $(1,505,244) $1,147,297 $ (357,947) $ 503,496 i Adjustments to reconcile operating r4 income(loss)to net cash provided by operating activities r Depreciation and amortization 2,565,002 4,372,398 6,937,400 6,895,258 Ft Bad debt expense 80,391 47,813 128,204 85,821 (Increase)decrease in: Accounts receivable (346,075) 332,019 (14,056) 297,037 Interfund receivable (19,787) (6,263) $26,050 - Related parties receivable 44,945 (3,233) 41,712 (43,736) Inventory (124,719) 160,537 35,818 142,364 Prepaid expenses and other assets 632 5,204 5,836 60,500 Increase(decrease) in: I Accounts payable 421,800 (45,508) 376,292 (1,360,089) Interfund payable 6,263 19,787 (26,05 - Related parties payable 51,498 (76,692) (25,194) 94,123 Accrued expenses (9,254) (8,499) (17,753) 3,825 Accrued compensation 133,663 69,697 203,360 223,540 t Deposits for performance bonds and ! other charges subject to refund 327 327 599 Consumer deposits, advance payments, and credit available 322,898 322,898 188,754 Net cash provided by operating activities 1,622,340 6,014,557 - 7,636,897 7,091,492 r Cash flows from noncapital and }t related fmancing activities Other nonoperating revenues, net 38,549 4,122 - 42,671 239,936 Net cash provided by noncapital 1 and related financing activities 38,549 4,122 - 42,671 239.936 i -9- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Combining Statement of Cash Flows For the Year Ended June 30, 1999 (With Comparative Information for the Year Ended June 30, 1998) Water Sewer Combined Utility Utility Eliminations 1999 1998 Cash flows from capital and related financing activities Acquisition of property, Plant, and equipment $(4,287,978) $(1,260,374) $(5,548,352) $ (8,468,376) Payments received on notes receivable 186,500 186,500 290,188 Charges to property owners for capital purposes 568,299 2,720,709 3,289,008 1,396,909 Grant proceeds from govemmem agencies 2,304,171 232,042 2,536,213 2,336,254 Principal payments on antes payable (1,414,487) (1,414,487) (1,369,111) Proceeds from issuance of long- term debt 35,612,314 35,612,314 8,018,023 Principal payments under capital leases (84,694) (84,694) (80,339) Principal payments on certificates of participation (960,000) (960,000) (9,338,606) Principal payments on bonds payable (865,000) (865,000) (960,000) Property taxes received 16,107 16,107 Interest paid (182,717) (4,418,500) (4,701,217) (4,064,711) Rent payments received 41,172 28,965 70,137 79,925 Net cash provided by(used in)capital and related financing activities (2,590,640) 30,727,169 $ - 28,136,529 (12,159.844) Cash flows from investing activities Proceeds from sale of investments 4,061,752 5,963,575 10,025,327 17,539,514 Purchase of investments (4,730,716) (44,665,214) (49,395,930) (13,855,313) a Interest received 282242 1,708,857 1,991,099 2030,348 Net cash provided by(used in) investing activities (386,722) (36,992,782) - (37,379,504) 5,714.549 Net increase(decrease) in cash and cash equivalents (1,316,473) (246,934) - (1,563,407) 886,133 Cash and cash equivalents at beginning of year 3,596,766 3,170,532 6,767,298 5,881,165 Cash and cash equivalents at end of year $2,280,293 $ 2,923,598 $ - $ 5,203,92L--§ 6,767,298 The accompanying notes are an integral part of these financial statements. -10- f t1 MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA r Notes to Combining Financial Statements �r 1. Summary of Significant Accounting Policies i The Municipal Water Department of the City of San Bernardino, California(a component unit of the City of i San Bernardino) (the Department) was formed in 1904 under the Charter of the City of San Bernardino. The Department is governed by a Board of Water Commissioners who are appointed by the Mayor of the City of San Bernardino. The Charter gives the Board of Water Commissioners semi-autonomous authority to govem the Department independent of the City Council. The Municipal Water Department of the City of San Bernardino operates two enterprise funds: the Water Utility Enterprise Fund(Water Utility)and the Sewer Utility Enterprise Fund(Sewer Utility). The Water Utility also provides administrative services and contracted services to the Sewer Utility. The accounting policies of the Department conform to generally accepted accounting principles (GAAP)as applicable to governments. The preparation of these financial statements requires management to make estimates and assumptions. Those t estimates and assumptions affect the reported amounts of assets, liabilities, revenues, and expenses, as well t as the disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Management also determines the accounting principles to be used in the preparation of the financial statements. A description of the significant accounting policies employed in the preparation of these financial statements follows: Reporting Entity Generally accepted accounting principles require that these financial statements present the accounts of the Department and any of its component units. Component units are legally separate entities for which the Department is considered to be financially accountable or otherwise has a relationship which is such that the exclusion of the entity would cause the financial statements to be misleading. Blended component units are considered, in substance, part of the Department's operations, so the accounts of these entities are to be combined with the data of the Department. Component units which do not meet these requirements are reported in the financial statements as discrete units to emphasize their separate legal status. The Department has determined that it has three component units, all of which qualify to be treated as blended component units as follows: West End Water Development Treatment and Conservation Joint Powers Authority On August 15, 1990, the City of San Bernardino joined the West End Water Development, Treatment and Conservation Joint Powers Authority (WEJPA) as a financing vehicle for construction of water facilities. v In accordance with the joint powers agreement, title to the WEJPA constructed water facilities will automatically vest with the Department in the Water Utility upon repayment of the certificates of participation issued to fund the construction. The WEJPA is governed by a separate three-member board consisting of one representative from each agency's governing body. The financial statements for the WEJPA.are available at the Department. -LL- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 1. Summary of Significant Accounting Policies (Continued) San Bernardino Public Safety Authority On April 1, 1968, the City of San Bernardino and County of San Bernardino formed the San Bernardino Public Safety Authority (PSA), a joint powers authority, as a financing vehicle to construct(1) public safety buildings and (2) improvements to the wastewater treatment plant. According to the original joint powers agreement, title to the PSA-constructed wastewater treatment facility will automatically vest in the City with the residual cash being transferred to the City after the bonds are repaid. PSA is governed by a separate board consisting of three members, one appointed by the San Bernardino City Council and two members appointed by the San Bernardino County Board of Supervisors. Effective with the transfer of the Sewer Utility to the Department, all the assets and activities of PSA related to the wastewater treatment plant were also transferred to the Department pursuant to the enabling resolution of October 1973 and are included in the Sewer Utility. The financial statements of PSA are available at the Department. Colton/San Bernardino Regional Tertiary Treannent and Water Reclamation Authority On August 2, 1994, the City of San Bernardino, through the Department, formed a joint powers authority with the City of Colton to construct, operate, use, and maintain tertiary wastewater treatment, disposal, and water reclamation systems, including the Regional Rapid Infiltration and Extraction Facility (RIX). The Colton/San Bernardino Regional Tertiary Treatment and Water Reclamation Authority is governed by a separate board consisting of four members, two of whom are appointed by the City of San Bernardino through the Department's Board of Water Commissioners and two appointed by the City Council of the City of Colton. Construction of the project was administered by the Santa Ana Watershed Project Authority (SAWPA) and was substantially completed during 1996. Administration and operation of the project was turned over to the Colton/San Bernardino Regional Tertiary Treatment and Water Reclamation Authority at that time. Title to the property will be transferred upon final resolution of construction issues. Each of the cities, San Bernardino and Colton, has an undivided interest in the real property and any related debt of the RIX project based on a split of 80 percent and 20 percent, respectively. The activities related to the construction, administration and operation of the RIX project are accounted for in the Sewer Utility. The Sewer Utility is reimbursed by the City of Colton for a portion of the costs of operating the RIX facility. -12- , t r MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 1. Summary of Significant Accounting Policies(Continued) Fund Accounting The accounts of the Department are organized and operated on the basis of funds. A fund is an independent i fiscal and accounting entity with a self-balancing set of accounts. Fund accounting segregates funds according to their intended purpose and uses them to aid management in demonstrating compliance with finance-related legal and contractual provisions. The Department's financial statements include only enterprise funds which are a proprietary fund type. Enterprise funds are used to account for those operations that are financed and operated in a manner similar to private business or where the Board has decided that the determination of j revenues earned, costs incurred and/or net income is necessary for management accountability. I Basis of Accounting Proprietary funds are accounted for on the flow of economic resources measurement focus and use the accrual basis of accounting. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. The Department applies all applicable GASB pronouncements in accounting and reporting for its proprietary operations and applicable FASBs that occurred prior to November 30, 1989. Cash and Investments Cash for the Department is pooled with the City of San Bernardino for investment purposes in order to maximize interest earnings. Such earnings are credited to the various funds within the City of San Bernardino based upon average monthly cash balances. The investment policies and the associated risk factors as they relate to the Department are included in the City's Comprehensive Annual Financial Report. t For the purpose of the statement of cash flows,cash and cash equivalents include all highly liquid investments (including restricted assets) with a maturity of three months or less when purchased. r Receivables Trade receivables are shown net of an allowance for uncolleedble accounts based on management's estimate. Interfund Receivables and Payables Transactions between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either "interfund receivables/payables" (i.e., the current portion of interfund loans) or "advances to/from other funds" (i.e., the noncurrent portion of interfund loans). All interfund transactions are eliminated for financial reporting purposes. -13- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 1. Summary of Significant Accounting Policies (Continued) Inventories Inventories are valued at the lower of cost, using the average-cost method, or market. Restricted Assets Various resources of the Department are limited as to their use by law or by certificates of participation and d bond covenants and are classified on the balance sheet as restricted assets. Proceeds of the certificates of participation and bonds are restricted for the construction of water and sewer system improvements and for repayments. Assessments collected from property owners are restricted for the payment of bond principal and interest. Also, fees imposed on new real estate development are restricted by law for the construction of capital improvements which benefit the development projects. Issuance Costs and Discount Issuance costs, discounts, and deferred funding charges for certificates of participation and bonds payable are being amortized using the effective interest rate method over the term of the related certificate or bond or the straight-line method which approximates the effective interest method. Property, Plant, and Equipment and Water Rights Property, plant, and equipment and water rights are recorded at cost. Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase is reflected in the capitalized value of the asset constructed, net of interest earned on the invested proceeds over the same period, if any. Overhead costs are capitalized at the rate of 24.75 percent of direct construction cost and are reflected in the capitalized value of the asset constructed. Depreciation has been provided for using the straight-line method over the estimated useful lives of the related assets. Useful lives for depreciation purposes are as follows: Wells, pumping plants, reservoirs, and distribution system 8 to 50 years Interceptor lines 50 years Disposal plant 35 to 50 years Leasehold improvements 5 to 25 years Shops, offices, stores, and yards 10 to 20 years Tools and equipment 4 to 20 years Office equipment 5 to 20 years Communication equipment 8 to 10 years Computer equipment 5 to 10 years Automotive equipment 3 to 8 years -14- i MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements r 1. Summary of Significant Accounting Policies (Continued) Equipment leased under capital leases is recorded at cost, and amortization has been provided for using the straight-line method over the estimated useful life. Amortization is included in depreciation expense. Idle Assets r Idle assets consist of water wells, pumping plants, reservoirs, and pipelines not in production. �r Compensated Absences ` Employees gain a vested right to accumulated unpaid vacation based on years of service but cannot accumulate i more than two years of accrued vacation. Once each fiscal year, employees with at least three weeks (two } weeks for managers and mid-management employees) of accrued vacation have the option of receiving payment at their regular rate of pay for one week of accumulated unpaid vacation. Employees' vacation benefits are recognized as a liability of the Department. i Sick leave is accumulated without limit for each employee at the rate of 3.7 hours per pay period. Leave with pay is provided when employees are absent for health reasons and employees are entitled to 25 percent of accumulated sick leave with five years of service and a minimum of 480 hours of accumulated sick leave. . - Upon retirement or death, employees are entitled to 50 percent of accumulated sick leave up to a maximum of 1,152 hours. Accrued sick leave benefits are recognized as a liability of the Department. 1 Fund Equity The Department currently has no reserved retained earnings. The Department's contributed capital represents equity acquired through capital grants and capital contributions from developers, customers, or other funds. Comparative Data for Prior Year Comparative data for the prior year has been presented in selected sections of the accompanying financial statements for comparative purposes and is not intended to be a complete financial statement presentation. For comparative purposes, certain amounts presented in the prior year have been reclassified in order to be consistent with the current year's presentation. 2. Prior Period Adjustment Fund equity at June 30, 1998 has been adjusted to correct an error in the financial statements for the year ended June 30, 1998. Contributed capital in the Water Utility has been increased by $564,435 to recognize grants from government agencies not previously recorded. This restatement has no effect on the amount of net income previously reported for the year ended June 30, 1998. -15- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 3. Cash and Investments As of June 30, 1999, the carrying amount of the Department's deposits was$902,105 and the bank balance was $853,327. Of the bank balance, $143,552 was covered by federal depository insurance (FDIC) and $709,775 was not collateralized. While the California Government Code requires banking institutions to pledge a pool of government securities to collateralize their public agency deposits, the collateral pool is not held in the name of the public agency; consequently, the excess above the FDIC amount is considered uncollateralized for the purpose of risk classifications under Government Accounting Standards Board Statement No. 3. a' The Department maintains substantially all of its operating funds in the City of San Bernardino Treasury (an internal investment pool). These funds are reported at market value as determined by quoted market prices. Investment earnings are deposited quarterly into participating funds. Any investment losses are proportionately shared by all funds in the internal investment pool. The Department's cash and investments include the following components: Cash deposits $ 902,105 Internal investment pool with City of San Bernardino 25,309,381 Investments with fiscal agent 39.826.907 $66.038.393 The Department's investments are categorized as either (1) insured or registered or for which the securities are held by the Department or its agent in the Departments name, (2) uninsured and unregistered for which the securities are held by the broker's or dealer's trust department or agent in the Department's name, or(3) uninsured and unregistered for which the securities are held by the broker or dealer or by its trust department or agent but not in the Department's name. The Department's investments in the Local Agency Investment Fund and money market funds have not been categorized because securities are not used as evidence of the investments but are an ownership interest in pooled investment funds. Investments are categorized at June 30, _. 1999 as follows: Category Fair Value 1 2 3 Total Investments U.S. Treasury securities $37,276,088 $37,276,088 U.S. Government agencies $12,195,495 17,195,495 Other securities $6,362,917 6,362,917 Local Agency Investment Fund $3,84,711 3,840,711 Money Market Funds $136,578 136,578 Total investments 64,811,789 Cash on hand and deposits 1.226.604 Total cash and investments $66.038.393 -16- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 3. Cash and Investments (Continued) Presented in the balance sheet as: Cash and cash equivalents Current assets _ $ 4,394,115 Restricted assets 809.776 r Total cash and cash equivalents 5.203.891 Investments i Current assets 16,115,423 Restricted assets 44.719.079 f Total investments 60.834.502 Il Total cash and investments $66.038.393 4. Accounts Receivable I t Accounts receivable consisted of the following at June 30, 1999: 1 Less Net Amount Allowance Receivable Water Utility Consumer $2,664,670 $261,955 $2,402,715 i Grant funding 285,998 285,998 Other 211.794 31.092 180.702 3.162.462 293.047 2.869.415 Sewer Utility Consumer 1,993,509 167,691 1,825,818 Other 591.573 13.303 578.270 2.585.082 180.994 2.404.088 t Totals $5.747.544 $474.041 $5.273.503 -17- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 5. Notes Receivable Notes receivable at June 30, 1999 consisted of the following: Sewer Utility Miscellaneous notes - Various parties (for collection of sewer capacity fees) Interest rate: 12% Repayment provision: Interest and principal due at maturity in 1999 Balance $32914 Total notes receivable $32 914 6. Restricted Assets Certain assets are classified as restricted assets because their use is completely restricted by the provisions of loan or grant agreements or bond covenants. The balances of restricted asset accounts at June 30, 1999 follow: Water Utility Customer deposits $ 1,204,067 Funds for debt service on South San Bernardino Water District Waterworks Bonds, Series C 32,762 Set asides required under 1990 Water facilities certificates of participation 5,079 Set asides required under series 1998A bonds, project fund 809.776 2.051.684 Sewer Utility -- Advance sales of capacity rights to property owners under Resolution 84-271, including any interest earnings, restricted for capacity expansion expenditures 1,013,897 East Valley Water District connection fees, restricted for additional interceptor capacity requirements of the District, including any interest earnings 2,827,560 Construction and other reserves including set asides required under the 1992 Sewer facilities certificates of participation and the 1998 refinancing Sewer revenue certificates of participation 40.639.754 44.481211 Total restricted assets $46.532,895 -18- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 7. Property, Plant, and Equipment and Water Rights A summary of changes in property, plant, and equipment and water rights follows: (l Additions Retirements Balance, and and Balance, June 30. 1998 Transfers-in Transfers-out June 30, 1999 Water Utility Sundry land, rights-of-way, service areas, and easements $ 2,372,230 $ 359,787 $ 2,732,017 Water rights, wells, pumping plants, reservoirs, etc. 29,474,476 775,007 $ 137,916 30,111,567 Distribution systems 48,528,374 976,553 477,387 49,027,540 Shops, office, and store yards 1,139,762 85,143 1,224,905 t Tools and equipment 1,904,669 84,073 98,913 1,889,829 Automobiles and trucks 2,001,293 99,030 109,406 1,990,917 t Office leasehold improvements 110,175 257 1,076 109,356 f Office, computer, and engineering equipment 2,056,793 134,242 231,136 1,959,899 "E" Street property 54,202 54,202 Radio and interoffice communications equipment 303,980 735 2,315 302,400 Telemetry systems and equipment 78,450 57,259 135,709 Miscellaneous capital items 155.787 49.682 205.469 88,180,191 $2.621,768 $1,058.149 89,743,810 Less accumulated depreciation and amordntion 33.979.349 35.716.282 54,200,842 54,027,528 Construction in progress 10.860.326 12.637.279 Total property, plant, and equipment and water rights, net $65.061.168 $66.664.807 F Details of changes in construction in progress in the Water Utility follow: Balance Balance June 30, 1998 Additions Transfers June 30, 1999 United States Environmental r Protection Agency Newmark Groundwater Project $ 7,456,657 $1,247,247 $ 359,664 $ 8,344,240 Other miscellaneous projects 3.401669 2.876.449 1.987.079 4193.039 Totals $10.860.326 $4.123.696 $2.346.743 $11637,279 -19- L MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 7. Property, Plant, and Equipment and Water Rights(Continued) During the year ended Jane 30, 1999, the Department capitalized interest costs of$49,276 in the Water Utility. Balance, Additions and Balance, June 30, 1998 Transfers-in Retirements June 30, 1999 Sewer Utility Iand, rights, and easements $ 12,303,221 $103,200 $ 12,200,021 Buildings and plants 143,252,398 $1,563,730 4,030 144,812,098 Wells and lines 3,192,217 3,192,217 Tools and equipment 2,583,447 144,419 72,115 2,655,751 Automobiles and trucks 499,705 50,172 35,857 514,020 Office and computer equipment 446,054 62,524 72,892 435,686 Miscellaneous capital items 206.393 6.659 199.734 162,483,435 $1.820.845 $294.753 164,009,527 L.ess accumulated depreciation. and amortization 30.804.369 35.040.037 131,679,066 128,969,490 Construction in progress 6.799.300 6347.528 Total property, plant, and equipment, net $138.478.366 $135 117.018 Details of changes in construction in progress in the Sewer Utility follow: Balance, Balance, June 30, 1998 Additions Transfers June 30, 1999 3 Phase III expansion project $2,614,441 $2,614,441 Other miscellaneous projects 4.184.859 $1.217.528 $1.669300 3.733.087 Totals $6.799.300 $1.217.528 $1.669.300 $6.347.528 During the year ended June 30, 1999, the Department capitalized interest costs of$47,345 in the Sewer Utility. -20- r MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements f l 8. Operating Leases The Department leases office space from the City of San Bernardino under a noncancellable operating lease terminating in 2002. The following is a schedule of minimum lease payments as of June 30, 1999: Office Space Water Sewer Total r For the year ending June 30, ! 2000 $161,918 $21,802 $183,720 2001 161,918 21,802 183,720 2002 121,439 16351 137.790 $445275 $59,955 $505230 t Rental expense including equipment rentals for the year ended June 30, 1999 amounted to $216,658. j 9. Long-Term Debt [ The following is a summary of changes in long-term debt obligations for the year ended June 30, 1999: r Balance, Balance.June 30, 1999 July 1 1998 Additions Reductions Total Current Long-Term Notes payable $31,649,670 $1,414,487 $ 30,235,183 $1,462,114 $ 28,773,069 Certificates of participation 36,487,958 $36,111,423 934,077 71,665,304 1,004,077 70,661,227 Bonds payable 8,173,584 811,084 7,362,500 857,510 6,504,990 Obligations under capital leases 94,694 84.694 r $76,395,906 $36,111,423 $3,244.342 $109.262,987 $3.323.701 $105,939.286 fE Notes Payable S Santa Ana Watershed Project Authority (SAWPA) Maturity date: 2011 Interest rate: 3.3% Repayment provisions: Annual principal and interest l payments of$279,293 Balances $ 2,730,948 -21- i 1 MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 9. Long-Term Debt(Continued) San Bernardino Valley Municipal Water District Maturity date: 2013 Interest rate: 7.25% Repayment provisions: Annual principal and interest payments of$456,250 Balances $ 3,930,979 Santa Ana Watershed Project Authority (SAWPA) Maturity date: 2016 Interest rate: 2.8% Repayment provisions: Annual principal and interest payments of$1,761,739 Balances 23.573.256 30,235,183 Less current portion 1.462.114 Long-term portion $28.773.069 The loan through the Santa Ana Watershed Project Authority from the State Water Resources.Control Board had been provided for the construction of the San Bernardino/Colton Rapid Infiltration Extraction (RUQ Project. The loan requires the Department to establish a Wastewater Capital Reserve Sinking Fund(WCRF) for expansion, major repair or replacement of wastewater treatment works at one-half of one percent of the total loan amount over a period of ten years. The balance of the WCRF is$650,375 at June 30, 1999. The Department has decided to use the revenues of the Sewer Utility towards repayment of the loan. Certificates of Participation Annual interest Issue Maturity Original Principal Rates Date Date Amount hwtaumems Balance 1992 Sewer Treatment Plant 6.25% 1992 2018 $41,300,000 $625,000 to to 9.25% $3,385,000 $35,835,000 1998 Refinmcing Sewer 3.95% 1998 2017 $36,230,000 $1,505,000 to to 5.00% $3,220,000 36,230,000 72,065,000 Less ummortized discount 399.696 71,665,304 Less current portion payable from restricted assets 1.004.077 Long-term portion $70.661.227 -22- MUNICIPAL WATER DEPARTMENT [ OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements [ 9. Long-Term Debt(Continued) [ The City of San Bernardino's independent bond council has determined that no amounts are currently due. t under IRS Code Section 148(f)(4)(B) for the temporary investments of the 1992 Sewer Treatment Plant 1 Certificates of Participation and for rebate arbitrage. During the year, the Department refinanced the acquisition and construction of certain capital improvements r which were originally financed by the 1992 Sewer Certificates of Participation, dated February 1, 1992. The refinancing was accomplished by issue of certificates of participation (1998 Refunding Sewer Revenue Certificates of Participation) in the amount of$36,230,000. The proceeds of the 1998 Certificates are to be invested and used to pay interest on the 1998 issue until February I, 2001. The 1992 Certificates are callable [ on February 1, 2001 at a prepayment premium of two percent. At that time, the funds from the 1998 issue will be used to pay off the 1992 Certificates. The Department will then begin paying the installment payments on the 1998 Certificates from the net revenues of the Sewer system. The Department has covenanted that it will budget amounts sufficient to make all installment payments due. Costs related to the issuance of 1998 Certificates have been paid out of the proceeds of the issue. The advance refinancing has resulted in economic savings to the Department which are the difference between the debt service payments on the 1992 and 1998 Certificates. The present value of these savings has been computed I as approximately $1.2 million. These savings were made available to the Department during the year upon issue of 1998 Certificates and a portion of these proceeds will be used to finance new Sewer capital improvements. As of June 30, 1999, $7,026,065 of outstanding 1990 Water Facilities Certificates of Participation are 1 considered in substance defeased through the issuance of the Series 1998A Water and Wastewater Revenue Bonds (see Bonds Payable) and are not included as a liability of the Department in these financial statements. Bonds Payable f Annual t Interest Issue Maturity Original Principal Rates Date Date Amount Installments Balance 1998 Water and Wastewater Revenue Bonds 3.75% 1998 2005 $8,610,000 $860,000 to to 4.40% $1,260,000 $7,750,000 t Waterworks Bonds, t Series C 7.75% 1988 2013 $150,000 $5,000 to $15,000 115.000 f Total bonds payable 7,865,000 !1 Less umtmortized discount and deferred advance refunding charge 502,500 7,362,500 Less current portion payable from restricted assets 857,51 Long-term portion $6 504,990 23 MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 9. Long-Term Debt(Continued) The Department has covenanted to set aside Water revenues to make installment payments on the Bonds as due. At June 30, 1999, $545,000 of the 1986 Revenue Refunding Bonds of the Sewer facility are considered defeased and are not included as a liability of the Department in these financial statements. The annual requirements to amortize long-term debt subsequent to June 30, 1999 are as follows: s June 30, Principal Interest Total Notes payable 2000 $ 1,462,114 $ 1,035,168 $ 2,497,282 2001 1,511,620 985,662 2,497,282 2002 1,563,095 934,187 2,497,282 2003 1,616,637 880,645 2,497,282 2004 1,672,347 824,935 2,497,282 Thereafter 22.409.370 4.792.806 27.202.176 30.235.183 9.453.403 39.688.586 Certificates of participation 2000 1,030,000 4,000,740 5,030,740 2001 1,105,000 3,905,464 5,010,464 2002 2,690,000 3,803,252 6,493,252 2003 2,845,000 3,669,742 6,514,742 2004 3,010,000 3,526,580 6,536,580 Thereafter 61.385.000 26.835.706 88120306 72.065.000 45.74 1,484 117.806.484 Bonds payable 2000 975,000 310,399 1,285,399 2001 1,020,000 272,033 1,292,033 2002 1,060,000 230,490 1,290,490 2003 1,100,000 186,016 1,286,016 2004 1,165,000 138,547 1,303,547 Thereafter 2545.000 146.827 2.691.827 7,865.000 1.284312 9.149.312 $110.165.183 $56.479.199 $166.644.382 -24- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements I 10. Defined Benefit Pension Plan Qualified employees are covered under a multiple-employer contributory retirement plan maintained by an agency of the State of California, California Public Employees' Retirement System(PERS). Plan Description The Department contributes to PERS, an agent multiple-employer public employee retirement system defined benefit pension plan administered by PERS. All employees who work 1,000 hours or more are eligible to participate. The plan provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefit provisions are established by stare statutes, as legislatively - amended, within the Public Employees' Retirement law. PERS issues a separate comprehensive annual financial report that includes financial statements and required supplementary information. Copies of the PERS annual financial report may be obtained from the PERS Executive Office, 400 "P" Street, Sacramento, California 95814. PERS also issues a separate report on the actuarial valuation of the plan of the City of San l Bernardino which is available at the Department. Funding Policy f Active plan members are required to contribute 7.0 percent of their salary and the Department is required to I contribute an actuarially determined rate. The actuarial methods and assumptions required employer contribution rate for fiscal year 1998-99 was -0-percent of annual payroll. The contribution requirements of the plan members are established by state statute. The Department's contributions of the employer's portion to PERS for the years ended June 30, 1999, 1998 and 1997 were$-0-, $281,804 and $434,915, respectively, and equal 100 percent of the required contributions for each year. In addition, the Department has agreed to "pick up" the contribution required from the employees on their behalf. Such contributions of the employees' portion for the years ended June 30, 1999, 1998, and 1997 were $607,355, $619,533, and $607,672' The Department's payroll for employees covered by PERS for the year ended June 30, 1999 was $9,131,384, which was 98 percent of the Department's payroll. 11. Post-Retirement Health Care Benefits In addition to the pension benefits described in Note 11, the Department provides post-retirement health care r benefits to all employees who retire from the Department on or after attaining age 55 with a minimum of 15 IL years of service. Retirees are allowed to continue on the health care plan at a set premium. Some employees are eligible to have a portion of that premium reimbursed to them by the Water Department up to $150 per month per retiree through October 5, 1998 and$217 per month thereafter. Currently, eleven Water Utility and one Sewer Utility retirees meet those eligibility requirements. The Department pays $16 per month per retiree to PERS for administrative costs of this program and an additional one-half percent administrative charge to PERS for all retirees currently covered under the health benefits plan. Expenditures for monthly i premiums are recognized as incurred. During the year ended June 30, 1999, expenditures of$26,434 were recognized for post-retirement health care benefits and administrative costs for the Water and Sewer Utilities. -25- 1 MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 12. Related Party Transactions Following is a summary of transactions and balances with the City of San Bernardino and its various departments as of and for the year ended June 30, 1999: Revenues City of San Bernardino Revenue from water charges $ 58,282 Revenue from sewer charges 88,752 Revenue from geothermal energy 13,899 Billing and collections charges - refuse 135,392 Billing and collections charges -storm drain 4,887 New services and mains -installation 5,827 Reimbursement- consulting services 8,633 Interest income 1,575,093 Economic Development Agency Revenue from geothermal energy 1,778 Reimbursement-consulting services 13.310 Total revenues from related parties $1.905.853 Expenses City of San Bernardino 10% water revenue $1,423,321 Sewer collection system maintenance 1,331,540 Printing services 5,650 Purchases 1,993 City Hall rent 183,720 Telephone charges 106,858 Refuse disposal services 85,852 Civil Service 45,000 Legal services and Affirmative Action 105,000 Rideshare coordination 2,010 Permits and engineering services 10,291 Postage 8,812 Payroll services 29,000 Data processing services 385,000 Workers' compensation-administration charges 55,248 Miscellaneous charges 4 145 Total expenses to related parties $3.783.440 -26- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements f 12. Related Party Transactions (Continued) Receivables City of San Bernardino Finance Department $1,033,311 Facilities Management 16,939 Public Services 23,2% Public Works 5,827 Economic Redevelopment Agency 8,522 Animal Shelter _ 472 Total related parties receivable $1 088 367 t Payables Due to the City of San Bernardino Finance Department - various terms for repayment $l 11)69.770 The Department collects and transmits to the City of San Bernardino ten percent of collections on gross water revenue and sewer collection system maintenance charges from Sewer Utility customers. These remittances are included in the related party expense shown above. The City of San Bernardino is exempt from all water service charges as long as water usage does not exceed 110 percent of the fiscal year 1994/1995 water usage. The value of the exempt water service charges for the year ended June 30, 1999 was $267,573. rr! The Department paid $77,353 to SAWPA as administration fees and reimbursement in connection with the t operation of the RIX project during the year ended June 30, 1999. tttt 13. Contingencies Grand Jury Investigation t The Department is under investigation for alleged violations of the Clean Water Act by the Grand Jury of the t United States District Court of the Central District of California. Although management denies any material violations of the Act, the outcome of this investigation or any subsequent actions cannot be determined at this time with any certainty. If the Department were to be found guilty of violations of the Clean Water Act, it could be subject to fines, and those fines could be material to these financial statements. - t -27- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 13. Contingencies (Continued) Federal and State Grants Amounts received or receivable from grant agencies are subject to audit and adjustment by grantor agencies, principally the federal and state governments. Any disallowed claims, including amounts already collected, may constitute a liability of the Department. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the Department expects such amounts, if any, to be immaterial. Litigation The Department has filed a complaint against the United States of America, Department of Army, in connection with alleged contamination of Camp Ono site. This lawsuit is in the discovery phase and an estimate of recoveries, if any, arising out of this claim cannot be made at this time. The Department incurred legal expenses of$2,424,616 in connection with this lawsuit during the year ended June 30, 1999. The Department is a defendant in various other lawsuits. Although the outcome of these lawsuits is not presently determinable, it is the opinion of the Department's counsel that resolution of these matters will not have a material adverse effect on the financial condition of the Department. Commitments Commitments in the form of signed contracts for costs to complete construction projects or other improvements amounted to $1,965,782 at June 30, 1999. Risk Management Description The Department's risk management activities are recorded in both of the utility funds. Significant losses are covered by commercial insurance for all major events except workers' compensation, for which the Department retains risk of loss in conjunction with the City of San Bernardino's risk management program for workers' compensation. For insured events, there have been no significant reductions in insurance coverage. Settlement amounts have not exceeded insurance coverage for the current year or the three prior years. Claims Liabilities The Department records an estimated liability for workers' compensation. Claims liabilities are based on estimates of the ultimate cost of reported claims (including future claim adjustment expenses) and an estimate for claims incurred but not reported based on historical experience. Workers' compensation unpaid claims liabilities are not discounted. -28- . f MUNICIPAL WATER DEPARTMENT f OF THE CITY OF SAN BERNARDINO, CALIFORNIA Notes to Combining Financial Statements 13. Contingencies (Continued) Unpaid Claims Liabilities l The following represents the changes in approximate aggregate liabilities for the Department for the year ended June 30, 1999: - Water Sewer Utility Utility Total Liability balance, June 30, 1998 $301,997 $105,253 $407,250 Claims and changes in estimates 279,886 166,900 446,786 Claim payments 327.388 53.366 380.754 Liability balance, June 30, 1999 $254.495 $218.787 $473.282 14. Concentrations Customers The Department serves customers located primarily in the City of San Bernardino, the East Valley, and Loma Linda. Employee Contracts j The employees of the Water Department, except for part-time employees and certain management and L confidential employees, are covered by memorandums of understanding with the Water Department Employees Association and Association of Water Department Mid-Managers as to wages, hours, and other terms and conditions of employment. New agreements were signed in April 1999 and are effective for a three-year period ending March 31, 2002. f 1 4 i 29 t SUPPLEMENTARY INFORMATION MUNICIPAL WATER DEPARTMENT ! OF THE CITY OF SAN BERNARDINO, CALIFORNIA Board of Water Commissioners and Organization f 1 June 30, 1999 MAYOR OF THE CTTY OF SAN BERNARDINO Judith Valley ` BOARD OF WATER COMMISSIONERS Name Office r B. Warren Cocke President t James H. Urata Commissioner F Toni Callicon Commissioner II Martin A. Matich Commissioner Judith W. Battey Commissioner ADMINISTRATION Mr. Bernard C. Kersey General Manager Ms. Stacy R. Aldstadt Deputy General Manager Mr. Joseph F. Stejskal Director: Engineering Construction- Maintenance Mr. John A. Perry, P.E. Director: Water Reclamation Mr. John P. Murphy Director of Finance Mrs, Marjorie A. Hoverland Director of Administrative Services Mr. Jon K. Turnipseed, CSP `1 Safety Program Manager [ ORGANIZATION i The City of San Bernardino Municipal Water Department was formed in 1904 under the Charter of the City of San Bernardino. The Department is governed by a Board of Water Commissioners who are appointed by the Mayor of the City of San Bernardino. The Charter gives the Board of Water Commissioners semi- autonomous authority to govern the Department independent of the City Council. The Department operates two enterprise funds: dte Water Utility Enterprise Fund and the Sewer Utility Enterprise Fund. Water Service encompasses the City, with the exception of the east end, which is serviced by East Valley Water. Sewer Services encompass all of the City of San Bernardino, East Valley Water, City of Loma Linda, the farmer Norton Air Force Base and Patton State Hospital. -30. MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule of Expenditures of Federal Awards For the Year Ended June 30, 1999 Federal Receipts Program Catalog Program or Revenue Program Title Number Entitlements Recoenized Expenditures Federal financial assistance received directly Environmental Protection Agency Superfund state site -specific cooperative agreements(Newmark groundwater contamination site) - major program 66.802 $14.205337 $1.360.748 $1.360,748 Total Environmental Protection Agency 14,205.737 1.360.748 L360.748 Total federal awards $14.205.737 $1,360.748 $1,360.748 This schedule is presented on the accrual basis of accounting. -31- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule of Insurance Coverage r� Insurance coverage for the Department at June 30, 1999 is summarized below: 1 Reliance National Insurance Company, Policy #NCZC0146458; boiler and machinery 111 coverage - April 30, 1999 to April 30, 2000 Per occurrence limit $10,000,000 Multiple insurance companies and policies, all-risk property coverage, including r earthquake and flood -April 30, 1999 to April 30, 2000 as follows: t Primary limit- AIG/Lexington Insurance Company, Policy #8799715 $2,500,000 Excess limits - Commonwealth Insurance Company, Policy#US2392 $3,750,000 Caliber One Indemnity Company, Policy #ZS1001035-01 $3,750,000 TIG Insurance Company, Policy#XPT38797206 $5,000,000 Essex Insurance Company, Policy #MSP3425 $5,000,000 Northfield Insurance Company, Policy #CF001277 $5,000,000 Insurance Company of the West, Policy#XH0170103100 $10,000,000 Agricultural Insurance Company, Policy #CPP3994611 $6,000,000 Greenwich Insurance Company, Policy#ACG3394611 $4,000,000 TIG Insurance Company, Policy #XPT3879206 $5,000,000 Hudson Insurance Company, Policy #HD0041 $8,000,000 Diamond Insurance Company, Policy #IM29423 $4,500,000 Clarendon National Insurance Company, Policy#AR98000480 $7,500,000 Gulf Underwriters Insurance Company, Policy#FXI,421908 $5,000,000 Westchester Fire Insurance Company, Policy #FXL421908 $50,000,000 Reliance Insurance Company, Policy #JK2838890; general liability and personal injury liability -October 30, 1998 to October 30, 1999 r Per occurrence limit $1,000,000 it Personal and advertising injury limit $1,000,000 Fire damage limit $50,000 Medical expense limit(any one person) $5,000 j General aggregate limit $2,000,000 t Products/completed operations aggregate limit $2,000,000 Reliance Insurance Company, Policy#JK2838890; commercial automobile coverage -October 30, 1998 to October 30, 1999 Bodily injury/property damage - combined single limit $1,000,000 Uninsured motorist $1,000,000 Medical expense $5,000 Hired/nonowned liability $1,000,000 -. -32- k MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule of Insurance Coverage (Continued) Reliance Insurance Company, Policy #KX2838890; commercial umbrella liability policy -October 30, 1998 to October 30, 1999 Per occurrence limit $15,000,000 Products/completed operations aggregate $15,000,000 General aggregate $15,000,000 American International Specialties Lines, Policy #2673997; pollution liability policy - October 29, 1998 to October 30, 2001 Third-Party Claims, On-Site Property Damage (each incident/aggregate) $5,000,000 Third-Party Claims, On-Site Bodily Injury (each incident/aggregate) $5,000,000 Tbird-Party Claims, Off-Site Cleanup of New Conditions (each incident/aggregate) $5,000,000 Third-Party Claims, Off-Site Property Damage(each incidentlaggregate) $5,000,000 Third-Party Claims, Off-Site Bodily Injury (each incident/aggregate) $5,000,000 Reliance Insurance Services, Policy #SV 1653393; public official and employee liability policy - October 30, 1998 to October 30, 1999 $5,000,000 AIG/National Union Fire Insurance Company, Policy #8572085; employment practices liability policy -October 30, 1998 to October 30, 1999 $5,000,000 The Department is self-insured through the City of San Bernardino for workers' compensation liability and material damage to rolling stock. -33- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule of Water System Demographics [ Physical Changes in Water Utility System [ 1999 ,1.v 1. 1998 Added Removed .tune 30. 1999 [ Miles of main in system 550.5525 1.5752 .6074 551.5203 Crate valves in system 14,233 156 10 14,379 t Fire hydrants in system 4,110 11 4 4,117 l Water meters in system 44,565 2,359 2,174 44,750 1998 July 1. 1997 Added Removed .Tune 30. 1998 Miles of main in system 550.4499 .1178 .0152 550.5525 [ Gate valves in system 14,136 99 2 14,233 Fire hydrants in system 4,105 9 4 4,110 r Water meters in system 44,397 2,644 2,476 44,565 Water Production/Utilization (Cubic Feet) F 1998-99 1997-98 1996-97 Water utilization (shown in cubic feet) r Water sold to direct customers 1,803,696,500 1,596,392,100 1,810,738,700 Il Water sold to other agencies 125,883,794 140,192,330 108,660,884 Water sold to or used by City* 90.117.117 79.698.816 91.775.960 2,019,697,411 1,816,283,246 2,011,175,544 Loss and other Factors 150,371,654 133,365,478 112,450,699 Loss and other factors percentage 6.929% 6.840% 5.295% [ Total water sold, used or lost 2.170.069.0652.170.069.065 19.648.724 2.123.626.2432.123.626.243 f L t I *Includes exempt water used by the City in the amount of 65,326,800 cubic feet for 1998-99 and 51,558,300 i cubic feet for 1997-98. -34 l t MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule of Water Production June 30, 1999 1998-99 1997-98 1996.97 Total Water Total Water Total Water Per 1,000 Per 1,000 Per 1,000 Amount Cubic Feet Amount Cubic Feet Amount Cubic Feet Summary of total water production and purchased cost Total production, Purchases, and supplemental 2,170,069 1,949,649 2,123,626 Production and pumping expenses* $2.985.298 $2.526.300 $2.874.992 Total expense before depreciation 2,985,298 $1.37567 2,526,300 $1.29577 2,874,992 $1.35381 Depreciation of plant facilities 925.290 .42639 870.338 .44641 878.349 .41361 Totals $3.910.588 $1.80206 $3.396.638 $1.74218 $3.753.341 $1.76742 Summary of costs per acre foot Acre feet 49,817.931 44,757.776 48,751_750 Cost per acre foot before depreciation $59.92 $56.44 $58.97 Cost per acre foot(including depreciation of plant facilities) $78.50 $75.89 - $76.99 s 4 *Includes operations administration. -35- MUNICIPAL WATER DEPARIW ENP OF THE CITY OF SAN BERNARDINO, CALIFORNIA t Schedule of Water Rates Water rates are summarized below: Single Family Dwelling Unit t Minimum Monthly Charge j Meter Effective Dates Cubic Foot Size April 1. 1991 November 1. 1989 Allowance 5/8" $6.60 $5.50 500 3/4" $8.80 $7.35 500 t" $10.55 $8.80 500 1-1/2" $18.90 $15.75 500 2" $26.40 $22.00 500 3" $44.90 $37.40 500 1 4" $76.25 $63.55 500 6" $137.30 $114.40 500 8" $205.90 $171.60 500 10" $257.40 $214.50 500 12" $308.90 $257.40 500 All water usage in excess of 500 cubic feet per month is at the rate of $32 and $.60 per 100 cubic feet _ effective April 1, 1991 and November 1, 1989, respectively. Commercial, Landscape, and Industrial Users Minimum Monthly Charge Meter Effective Dates Size April 1. 1991 November 1. 1989 5/8" $6.60 $5.50 3/4" $8.80 $7.35 { 1" $10.55 $8.80 1-1/2" $18.90 $15.75 2" $26.40 $22.00 3" $44.90 $37.40 4" $76.25 $63.55 6" $137.30 $114.40 8" $205.90 $171.60 10" $257.40 $214.50 12" $308.90 $257.40 All water usage per month is at the rate of$32 and $.60 per 100 cubic feet effective April 1, 1991 and November I, 1989, respectively. -36- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule of Water Rates (Continued) Delrnamt Heights Users (Customers formerly served by Southern California Water Company) Minimum Monthly Charge Meter Effective Dates Size April 1. 1991 November 1. 1989 5/8" $4.60 $4.60 3/4" $5.50 $5.50 V $8.80 $8.80 I-112" $13.80 $13.80 2" $14.90 $14.90 3" $26.60 $26.60 4" $35.00 $35.00 6" $58.50 $58.50 8" $84.00 $84.00 Water usage charge on the first 300 cubic feet is at the rate of$.70 per 100 cubic feet with water usage over 300 cubic feet at the rate of$.844 per 100 cubic feet for the effective dates of April 1, 1991 and November 1, 1989. Effective July 1, 1995, water furnished for municipal use to the City of San Bernardino is exempt from all water service charges as long as water usage does not exceed 110 percent of the fiscal year 1994/1995 water usage. Water usage in excess of this amount is charged at$.288 per 100 cubic foot. Water furnished for use by the City of San Bernardino for landscape assessment districts or funded from other than the City's general fund is charged at$.288 per cubic foot. All other rates remained unchanged. -37- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule of Sundry Water Statistical Data 1998-1999 1997-1998 I Production Percent Production Percent in Cubic Feet Production in Cubic Feet Production I Perris Hill 8,395,500 0.40% 12,082,300 0.66% Sierra Way and 16th Street 25,123,000 1.20 108,345,300 5.90 Antil pumping 83,555,100 4.01 110,558,300 6.02 Waterman Avenue pumping 24,299,200 1.16 65,645,000 3.57 Mill and "D" Streets 20,915,000 1.00 24,489,400 1.33 Lytle Creek#1 and#2 238,430,635 11.43 211,407,612 11.51 Secombe well -7th Street plants 27,558,400 1.32 121,139,100 6.59 Cajon Pass and Vincent plant 119,104,800 5.71 107,585,000 5.86 Devils Canyon#1 - 97 107,871,930 5.17 114,549,050 6.23 I Newmark#1 - #4 166,982,400 8.00 173,641,100 9.45 19th Street#1 and#2 80,904,000 3.88 148,340,400 8.07 Gilbert Street 16,437,500 0.79 60,684,800 3.30 Lynwood 43,621,500 2.09 83,322,600 4.53 27th Street 4,033,200 0.19 5,933,200 0.32 Baseline and California plant 33,485,800 1.61 22,726,800 1.24 Ellena Bros. well Cajon#1, #2 and#3 155,952,000 7.48 159,063,000 8.66 Mallory well and reservoir 28,969,900 1.39 25,900,300 1.41 30th and Mountain View 34,669,100 1.66 41,095,062 2.24 Olive and Garner well 105,386,500 5.05 45,237,800 2.46 LeRoy Street well 40,226,700 1.93 19,167,100 1.04 10th and `J" Street 61,746,500 2.96 42,676,300 2.32 Kenwood well 123,904,000 5.94 129,339,300 7.04 40th Street well 4,084,800 0.20 4,508,800 0.25 r EPA wells 530.532.200 25.43 2,086,189,665 100.00 1,837,437,624 100.00 Exchange water from Fast i Valley Water Department 83X9,400 112211.100 1 Total produced water 2J70,069,065 100 00% 1949.648324 100.00% -38- 1996-1997 19951996 19941995 Production Percent Production Percent Production Percent in Cubic Feet Production in Cubic Feet Production in Cubic Feet Production 14,056,300 0.72% 14,056,300 0.71% 37,643,000 2.17% 133,142,700 6.85 133,142,700 6.75 139,819,300 8.07 85,263,000 4.39 85,263,000 4.32 95,007,700 5.48 56,160,500 2.89 56,160,500 2.85 56,777,000 3.27 17,000,700 0.88 17,000,700 0.86 19,770,300 1.14 167,509,300 8.62 196,365,448 9.95 87,336,700 5.04 93,492,100 4.81 93,492,100 4.74 104,208,096 6.01 112,502,300 5.79 112,502,300 5.71 81,299,500 4.69 128,098,120 6.59 128,098,120 6.50 92,209,070 5.32 233,582,200 12.02 233,582,200 11.85 176,697,800 10.19 136,200,800 7.01 136,200,800 6.91 139,418,900 8.04 117,855,900 6.07 117,855,900 5.98 91,160,000 5.26 136,705,700 7.04 136,705,700 6.93 87,714,100 5.06 9,015,400 0.46 9,015,400 0.46 19,434,900 1.00 19,434,900 0.99 32,483,100 1.87 155,425,400 8.00 155,425,400 7.88 151,949,400 8.76 9,292,800 0.48 9,292,800 0.47 5,207,400 0.30 74,113,000 3.81 74,113,000 3.76 94,234,800 5.44 87,164,300 4.49 87,164,300 4.42 64,071,600 3.70 5,903,700 0.30 5,903,700 0.30 4,300,200 0.25 12,346,200 0.64 12,346,200 0.63 35,202,900 2.03 132,997,600 6.85 132,997,600 6.75 134,547,300 7.76 5,552,200 0.29 5,552,200 0.28 2,590,700 0.15 s 1,942,815,120 100.00 1,971,671,268 100.00 1,733,648,866 100.00 120.321.000 120.321.000 2.063.136.120 100.00% 2.091.992.268 100.00% 1333.648.866 100.00% -39- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA WATER UTILITY Schedule of Service Area and Customers Number of Active Connections by Classification of User [ as of June 30, 1995 through June 30, 1999 t User Type 1999 1998 1997 1996 1995 Single family residential 32,062 31,692 32,105 32,202 32,219 [ Multiple family residential 2,798 2,830 2,870 2,900 2,931 Commercial/institutional 3,336 3,268 3,126 3,115 3,146 [ Other 1.253 1.345 1.267 1,200 1.152 Total all users, active 39,449 39.135 39.368 39.417 39.448 Revenue by Class of User Fiscal Year 1998-99 Fiscal Year Percentage of User Class Revenue Annual Revenue Single family residential $ 7,087,976 51.00% Multiple family residential 2,223,679 16.00 Commercial/industrial 3,474,498 25.00 i Other and unmetered 1.111.839 8.00 t Total all users $13.897.992 100.00% 1 4 i i Largest users: The System had no customer accounting for more than three percent of the revenues for the fiscal year 1998-99. -40- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule of Sewer Rates and Statistics Regional Facilities and Collection Treatment System Total Monthly Classification Charee Charee City Charee Rates effective as of June 1, 1995: Residential $13.25 per month $1.35 per month $14.60 Commercial: Multi-family, mobile home parks (4 or more units) $0.75/14CF* $0.151HCF $0.90/HCF* Retail, commercial, light industrial (non-office, bakeries, markets, theaters, dry cleaners) $1.10/HCF* $0.15/HCF* $1.25/14CF* Auto repair, car wash $1.20/HCF* $0.15 1HCF* $1.35/HCF* Offices, motels (without restaurants) $0.95/HCF* $0.15/HCF* $1.10/HCF* Restaurants, hotels(hotels/motels with restaurants) $1.70 1HCF* $0.15/HCF* $1.85/HCF* Laundromats $0.90/HCF* $0.15/HCF* $1.051HCF* Hospitals, convalescent homes $0.80/HCF* $0.15/HCF* $0.95/HCF* Schools, churches, nursery schools, daycares $0.50/HCF* $0.15/HCF* $0.65/HCF* Industry $826.67/MG $264.22/1,000 LBS BOD (Discharge flow) $324.28/1,000 LBS SS Rates effective as of January 1, 1994: Residential $13.55 per month $1.35 per month $14.90 Commercial: Multi-family, mobile home parks (4 or more units) $0.801IICF* $0.15/HCF $0.95/14CF* y Retail, commercial, light industrial (nonoffice, bakeries, markets, theaters, dry cleaners) $1.15/HCF* $0.15/HCF* $1.30/HCF* Auto repair, car wash $1.25/HCF* $0.15/HCF* $1.40/HCF* Offices, motels (without restaurants) $1.00/14CF* $O.15/HCF* $1.15[HCF* Restaurants, hotels (hotels/motels with restaurants) $1.75/HCF* $0.15/HCF* $1.90/HCF* Laundromats $0.95/HCF* $0.15/HCF* $1.10/HCF* Hospitals, convalescent homes $0.85/HCF* $0.15/HCF* $1.00/HCF* Schools, churches, nursery schools, daycares $0.55/HCF* $0.15/HCF* $0.70/HCF* Industry $908.33/MG $264.22/1,000 LBS BOD (Discharge flow) $324.28/1,000 LBS SS *HCF = Per 100 cubic feet of water usage. -41- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule of Sewer Rates and Statistics (Continued) .tune 30. 1999 Residential Nonresidential Pole! Number of connections City of San Bernardino 32,553 3,718 36,271 East Valley Water District 16,613 1,176 172789 City of Loma Linda 3.444 818 4.262 ` 52.610 5.712 58.322 [ Annual billings City of San Bernardino* $5,126,734 $4,691,828 $ 9,818,562 f East Valley Water District 2,631,064 1,486,077 4,117,141 City of Loma Linda 539.410 841.448 1.380.858 $8.297.208 $7.019353 $15.316.561 Average monthly billings City of San Bernardino $427,228 $390,986 $ 818,214 East Valley Water District 219,255 123,840 343,095 City of Loma Linda 44952 70.121 115.073 $691435 $584.947 $1.276.382 t t I { I *The billings to the City of San Bernardino are net of collection system costs. -42- June 30, 1998 .tune 30, 1997 Residential Nonresidential Total Residential Nonresidential Total 32,517 3,711 36,228 32,693 3,723 36,416 16,420 1,089 17,509 15,526 1,106 16,632 3.438 545 3.983 3.119 554 3.673 52,375 5.345 57.720 51.338 5.383 56321 $5,091,718 $4,505,248 $ 9,596,966 $5,183,721 $4,919,644 $10,103,365 2,588,101 1,402,504 3,990,605 2,571,861 1,457,114 4,028,975 537.770 862.410 1.400.180 491.122 790.874 1,281,996 $8.217.589 $6.770.162 $14,987,751 $8.246.704 $7,167,632 $15.414.336 $424,310 $375,437 $ 799,747 $431,977 $409,970 $ 841,947 215,675 116,875 332,550 214,322 121,426 335,748 44.814 71.867 116.681 40.927 65.906 106.833 $684,799 $564.179 $1,248,978 $687,226 $597,302 $L284.528 -43- MUNICIPAL WATER DEPARTMENT 1 OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule - 1992 Certificates of Participation San Bernardino Public Safety Authority June 30, 1999 l Principal Principal Unamortized Payments Interest Date Due Payments Discounts (Net) Interest Total Rate 8-1-1999 $ 1,151,869 $ 1,151,869 9.25% 2-1-2000 $ 1,030,000 $ 16,520 $ 1,013,480 1,151,869 2,165,349 9.25% 8-1-2000 1,104,231 1,104,231 9.25% f 2-1-2001 1,105,000 16,520 1,088,480 1,104,231 2,192,711 9.25% t 8-1-2001 1,053,125 1,053,125 6.25% 2-1-2002 1,185,000 16,520 1,168,480 1,053,125 2,221,605 6.25% 8-1-2002 1,016,094 1,016,094 6.25% 2-1-2003 1,270,000 16,520 1,253,480 1,016,094 2,269,574 6.25% 8-1-2003 976,406 976,406 6.25% r 2-1-2004 1,360,000 16,520 1,343,480 976,406 2,319,886 6.25% 8-1-2004 933,906 933,906 6.25% 2-1-2005 1,460,000 16,520 1,443,480 933,906 2,377,386 6.25% r 8-1-2005 888,281 888,281 6.25% 2-1-2006 1,565,000 16,520 1,548,480 888,281 2,436,761 6.25% 8-1-2006 839,375 839,375 6.25% 2-1-2007 1,680,000 16,520 1,663,480 839,375 2,502,855 6.25% 8-1-2007 786,875 786,875 6.25% 2-1-2008 1,800,000 16,520 1,783,480 786,875 2,570,355 6.25% 8-1-2008 730,625 730,625 6.25% 2-1-2009 1,930,000 16,520 1,913,480 730,625 2,644,105 6.25% 8-1-2009 670,312 670,312 6.25% 2-1-2010 2,070,000 16,520 2,053,480 670,312 2,723,792 6.25% [ 8-1-2010 605,625 605,625 6.25% 2-1-2011 2,220,000 16,520 2,203,480 605,625 2,809,105 6.25% 8-1-2011 536,250 536,250 6.25% 2-1-2012 2,385,000 16,520 2,368,480 536,250 2,904,730 6.25% 8-1-2012 461,719 461,719 6.25% 2-1-2013 2,555,000 16,520 2,538,480 461,719 3,000,199 6.25% 8-1-2013 381,875 381,875 6.25% 2-1-2014 2,740,000 16,520 2,723,480 381,875 3,105,355 6.25% 8-1-2014 296,250 296,250 6.25% 2-1-2015 2,940,000 16,520 2,923,480 296,250 3,219,730 6.25% 8-1-2015 204,374 204,374 6.25% -44- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule — 1992 Certificates of Participation San Bernardino Public Safety Authority (Continued) June 30, 1999 Principal Principal Unamortized Payments Interest Date Due Payments Discounts (Net) Interest Total Rate 2-1-2016 $ 3,155,000 $ 16,520 $ 3,138,480 $ 204,375 $ 3,342,855 6.25% 8-1-2016 105,781 105,781 6.25% 2-1-2017 3.385.000 9.681 3.375.319 105.784 3.481.103 6.25% 'i $35.835.000 $290.521 $35.544.479 $25.485.950 $61.030.429 ?5 Funds used for the Primary Hydraulic Reliability Project, remodel of the administration laboratory building, and design of 3A secondary treatment. -45- MUNICIPAL WATER DEPARTMENT f OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule - 1998 Refunding Sewer Revenue Certificates of Participation ` San Bernardino Public Safety Authority ` June 30, 1999 r Principal tt Principal Unannirtized Payments Interest Date Due Payments Discounts (Vet) Interest Total Rate 8-1-1999 $ 848,501 $ 848,501 3.95% 2-1-2000 $ 9,403 $ (9,403) 848,501 839,098 3.95% 8-1-2000 848,501 848,501 3.95% 2-1-2001 9,403 (9,403) 848,501 839,098 3.95% 8-1-2001 848,501 848,501 3.95% 2-1-2002 $ 1,505,000 9,403 1,495,597 . 848,501 2,344,098 3.95% 8-1-2002 818,777 818,777 4.05% 2-1-2003 1,575,000 9,013 1,565,987 818,777 2,384,764 4.05% 8-1-2003 786,884 786,884 4.10% 2-1-2004 1,650,000 8,604 1,641,396 786,884 2,428,280 4.10% 8-1-2004 753,059 753,059 4.15% 2-1-2005 1,730,000 8,176 1,721,824 753,059 2,474,883 4.15% 8-1-2005 717,161 717,161 4.25% 2-1-2006 1,815,000 7,727 1,807,273 717,161 2,524,434 4.25% L 8-1-2006 678,593 678,593 4.30% 2-1-2007 1,910,000 7,257 1,902,743 678,593 2,581,336 4.30% 8-1-2007 637,528 637,528 5.00% 2-1-2008 2,010,000 6,760 2,003,240 637,528 2,640,768 5.00% 8-1-2008 587,278 587,278 4.50% 2-1-2009 2,125,000 6,238 2,118,762 587,278 2,706,040 4.50% 8-1-2009 539,465 539,465 4.70% 2-1-2010 2,240,000 5,687 2,234,313 539,465 2,773,778 4.70% r 8-1-2010 486,825 486,825 5.00% t 2-1-2011 2,365,000 5,105 2,359,895 486,825 2,846,720 5.00% 8-1-2011 427,700 427,700 4.75% ' 2-1-2012 2,510,000 4,492 2,505,508 427,700 2,933,208 4.75% 1 8-1-2012 368,088 368,088 4.85% 2-1-2013 2,650,000 3,840 2,646,160 368,088 3,014,248 4.85% 8-1-2013 303,825 303,825 4.75% i 2-1-2014 2,805,000 3,152 2,801,848 303,825 3,105,673 4.75% 8-1-2014 237,206 237,206 5.25% 2-1-2015 2,965,000 2,424 2,962,576 237,206 3,199,782 5.25% 8-1-2015 159,375 159,375 5.00% -46- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Schedule - 1998 Refunding Sewer Revenue Certificates of Participation San Bernardino Public Safety Authority (Continued) June 30, 1999 Principal Principal Unamortized Payments Interest Date Due Payments Discounts (Net) Interest Total Rate 2-1-2016 $ 3,155,000 $ 1,655 $ 3,153,345 $ 159,375 $ 3,312,720 5.00% 8-1-2016 80,500 80,500 5.00% 2-1-2017 3.220.000 836 3219.164 80.500 3.299.664 5.00% $36.230.000 $109.175 $36.120.825 $20255.534 $56.376359 -47- w v MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Series 1998A Water and Wastewater Revenue Bonds I Unamortized I Discounts and Principal Principal Deferred Payments Interest I Date Due Payments Charees (Net) Interest Total Rate 10-1-1999 $ 970,000 $117,490 $ 852,510 $ 159,837 $1,012,347 3.75% 4-1-2000 141,650 141,650 3.75% 10-1-2000 1,015,000 104,149 910,851 141,650 1,052,501 3.90% 4-1-2001 121,857 121,857 3.90% 10-1-2001 1,055,000 89,671 965,329 121,858 1,087,187 4.05% t 4-1-2002 100,494 100,494 4.05% 10.1-2002 1,095,000 74,016 1,020,984 100,494 1,121,478 4.15% I 41-2003 77,772 77,772 4.15% 10-1-2003 1,160,000 57,338 1,102,662 77,773 1,180,435 4.20% 4-1-2004 53,412 53,412 4.20% t 10-1-2004 1,195,000 39,360 1,155,640 53,413 1,209,053 4.30% 4-1-2005 27,720 27,720 4.30% 10-1-2005 L260.000 20.476 L239.524 27.720 1,267,244 4.40% $7,750,000 $502.500 $7.247.500 $1.205.650 $8,453,150 i !ci 1 `I t Funds used to defease and prepay 1990 Certificates of Participation issued to finance construction of reservoirs, wells and mains, and to fnuutce future improvements of Water Facilities. -48- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA Bond Schedule- General Obligation Waterworks Bonds, Series C Interest Date Due Payments Interest Total Rate 9-1-1999 $ 4,456 $ 4,456 7.75% 3-1-2000 $ 5,000 4,456 9,456 7.75% 9-1-2000 4,263 4,263 7.75% 3-1-2001 5,000 4,263 9,263 7.75% 9-1-2001 4,069 4,069 7.75% 3-1-2002 5,000 4,069 9,069 7.75% 9-1-2002 3,875 3,875 7.75% 3-1-2003 5,000 3,875 8,875 7.75% 9-1-2003 3,681 3,681 7.75% 3-1-2004 5,000 3,681 8,681 7.75% 9-t-2004 3,488 3,488 7.75% 3-1-2005 5,000 3,488 8,488 7.75% 9-1-2005 3,294 3,294 7.75% 3-1-2006 10,000 3,294 13,294 7.75% 9-1-2006 2,906 2,906 7.75% 3-1-2007 10,000 2,906 12,906 7.75% 9-t-2007 2,519 2,519 7.75% 3-1-2008 10,000 2,519 12,519 7.75% 9-1-2008 2,131 2,131 7.75% 3-t-2009 10,000 2,131 12,131 7.75% 9-1-2009 1,744 1,744 7.75% 3-1-2010 10,000 1,744 11,744 7.75% 9-1-2010 1,356 1,356 7.75% 3-1-2011 10,000 1,356 11,356 7.75% 9-1-2011 969 969 7.75% 3-1-2012 10,000 969 L0,969 7.75% 9-1-2012 580 580 7.75% 3-1-2013 15.000 580 15.580 7.75% $115.000 $78.662 $193.662 Bonds related to water system improvements for South San Bernardino Water District, which was acquired by the Department in 1991. -49- MUNICIPAL WATER DEPARTMENT OF THE CITY OF SAN BERNARDINO, CALIFORNIA . Year 2000 Issue t The Year 2000 Issue is the result of shortcomings in many electronic data processing systems and other electronic equipment that could have adversely affected the Department's operations as early as fiscal year 1999. The Municipal Water Department of the City of San Bernardino, California has completed an inventory of computer systems and other electronic equipment that may be affected by the Year 2000 Issue and that are necessary to conducting Department operations. Based on this inventory, the Department identified the E following systems requiring year 2000 remediation: • Financial reporting system and payroll and employee benefit system. The Department has completed all testing and validation on these systems. • Utility billing system. As of June 30, 1999, the Department was in the process of remediating its utility billing system; validation and testing of this system were not yet completed. Remaining contracted amounts of$336,495 were committed to this project as of June 30, 1999. ttt • Telephone system. As of June 30, 1999, the Department was in the process of determining how best to t remediate the issues identified with this system. It is anticipated that commercial. vendors will be contracted to install a new telephone system, which will include the testing and validation of the system, upon completion of installation. • The Department is relying on the City of San Bernardino for year 2000 readiness of certain systems in the t City Hall premises where a portion of Department personnel and a significant portion of Department {[ operations are conducted. The City of San Bernardino reports that the systems critical to conducting operations have been tested and validated. r • The Department has completed testing and validation on all other electronic equipment it identified as necessary to conducting Department operations. ` Because of the unprecedented nature of the Year 2000 Issue, its effects and the success of related remediation [l efforts will not be fully determinable until the year 2000 and thereafter. Management cannot assure that the t Department is or will be year 2000 ready, that the Department's remediation efforts will be successful in whole t or in part, or that parties with whom the Department does business will be year 2000 ready. l -50-