COUNTY OF SACRAMENTO
NOTES TO BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
note include a variable interest rate, adjusted on a quarterly basis, equal to the rate of interest on the Constant Maturity U.S. Treasury Note for the number of years
The Petition seeks damages, including attorneys’ fees, in excess of $125,000,000. Department of Health and Human Services (DHHS) staff indicated to County
Counsel on November 9, 2009, that the County liability for non-payments of claims to UCD may total up to $80,000,000; however, no legal analysis of this
conclusion has been performed. Further, subsequent to November 9, 2009, DHHS staff has admitted that prior year claims have not been reconciled.
Dry Period Financing
For Fiscal Year 2009-10, with year-end cash balances declining, the County decided it would not be cost effective to issue a TRANS to fund the General Fund cash, and
approved in the County’s Fiscal Year 2009-10 preliminary budget. The County’s Final Fiscal Year 2009-10 budget was approved in October 2009 and the dry period
financing amount was adjusted to reflect the final General Fund estimated revenues of $1.991 billion. In addition, on a monthly basis, as revenue is received the dry
period financing amount is decreased accordingly.
112
113
COUNTY OF SACRAMENTO
REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Schedule of funding progress for SCERS
Actuarial Unfunded
Accrued AAL as a
Actuarial Liability Annual Percentage
Valuation Value of (AAL) Unfunded/ Funded Covered of Covered
Date Assets Entry Age AAL Ratio Payroll Payroll
6/30/07 5,406,461 5,788,336 381,875 93.4% 756,024 51.0%
COUNTY OF SACRAMENTO
REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Other Post Employment Benefits (OPEB) – Schedule of Funding Progress
Actuarial
UAAL as a
Actuarial Accrued Unfunded
Percentage
Valuation Valuation Liability AAL Funded Covered Of Covered
Date of Assets (AAL) (UAAL) Ratio Payroll Payroll
Source: Segal Group, Inc., “County of Sacramento Actuarial Valuation and Review of Other Post Employment Benefits (OPEB) as of June 30, 2007, In
accordance with GASB No. 45.”
See accompanying independent auditors report.
Notes to the Required Supplementary Information
1.
This information is intended to help users assess the OPEB funding status on a going-concern basis, assess progress made in accumulating assets to pay
benefits and make comparisons with other public employers.
2.
The information presented relates solely to the County and not to SCERS as a whole.
114
COUNTY OF SACRAMENTO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2009
(amounts expressed in thousands)
Sp ecial
Revenue Debt Service Capital Projects Total
Assets:
Cash and investments $ 332,799 71,289 145,093 549,181
Receivables:
Billed 14,692 208 14,900
Interest 5 5
Long-term receivables 52 137,560 137,612
Total assets $ 388,216 214,285 154,217 756,718
Reserved for:
Encumbrances 92,526 20,445 112,971
Assets not available 201 49,801 4,292 54,294
Debt service 70,771 70,771
Future construction 114,786 114,786
Unreserved:
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COUNTY OF SACRAMENTO
NONMAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Special Revenue Debt Service Capital Projects T otal
Revenues:
Taxes 81,054 $ 81,054
General government 70,983 70,983
Public assistance 36,764 36,764
Public protection 15,061 15,061
Health and sanitation 43,979 43,979
Public ways and facilities 96,932 5,255 102,187
Transfers in 25,444 111,597 105 137,146
Transfers out (33,965) (27,737) (12,224) (73,926)
Issuance of debt 80,006 80,006
Refunding debt issued 49,760 49,760
Swap, Lehmen termination payment (23,019) (23,019)
SPECIAL REVENUE FUNDS
Road – Accounts for Sacramento County road activities in the unincorporated area, including design, construction, and maintenance of roads, traffic signals,
other right-of-way, safety-related road improvement projects, and the Radar/Speed Control Program.
First 5 Commission – Accounts for funds received from the State from Proposition 10.
Library –Accounts for County’s share of revenue and operating transfer to the Library JPA.
Transportation Sales Tax – Accounts for the public road improvements in the unincorporated area of the County that are funded from the Measure A
Transportation Sales Tax.
assistance provided by the Department of Parks and Recreation to four County service areas.
Water Agencies – Various zones created to provide specialized services within specific geographic areas.
Stormwater Utility –Accounts for revenues and expenditures relating to collection and discharge of stormwater runoff in the region.
Tobacco –Accounts for revenues and expenditures associated with the tobacco litigation settlement to be used for the operation of health, youth, and tobacco
prevention programs.
materials.
Other – Accounts for miscellaneous Special Revenue Funds of the County.
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COUNTY OF SACRAMENTO
NONMAJOR GOVERNMENTAL FUNDS – SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2009
(amounts expressed in thousands)
P ublic
Page 1 of 3
Transient
Facilities
Fixed Asset
First 5 Transportation Occupancy Building Financing
Road Commission Library Sales T ax Tax Inspection Program
Asset s:
Cash and investments $ 11,542 108,171 6,596 5,150 4,569 2,438
Receivables, net of allowance for uncollectibles:
Billed 1,135 2,861 1,826 1,077 389
Due to other funds 488 1,375 104 1,545 3,508 358 6,613
Deferred revenues 19,014
T otal liabilities 2,846 5,008 2,595 9,137 3,671 1,750 25,627
Fund balances:
Reserved for:
COUNTY OF SACRAMENTO
NONMAJOR GOVERNMENTAL FUNDS – SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2009
(amounts expressed in thousands)
Page 2 of 3
Light ing and
Long–term receivables
Total assets 3,343 $ 11,117 53,565 21,773 38,190 3,816 118
Liabilities and fund balances:
Liabilities:
Warrants payable 16 $ 312 49 113 6 912 6
Designated 2,831 36,127
Undesignated 3,162 7,003 52,627 17,160 291 504 (418)
Total fund balances 3,178 10,155 53,365 21,219 36,871 812 (413)
T otal liabilities and fund balances 3,343 $ 11,117 53,565 21,773 38,190 3,816 118
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COUNTY OF SACRAMENTO
NONMAJOR GOVERNMENTAL FUNDS – SPECIAL REVENUE FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2009
(amounts expressed in thousands)
Page 3 of 3
Tobacco
Economic Roadway Fee Securitization Environmental
Development District Authority Management Other Total
Assets:
Cash and investments
Receivables, net of allowance for uncollectibles:
Billed
Intergovernmental
Due from other funds
Long-term advances to other funds
$
25,880
53
29,566
975
888
6,075
1,928
104
130
8,156
629
21
332,799
14,692
11,092
10,567
Total liabilities
15,119
216
7
674
2,513
75,898
Fund balances:
Reserved for:
Encumbrances
Assets not available
296
64
8
31
92,526
201
COUNTY OF SACRAMENTO
NONMAJOR GOVERNMENTAL FUNDS – SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Page 1 of 3
P
u
bli
c
Facilities
Transient Fixed Asset
Miscellaneous 863 227 360 123
Total revenues 56,843 19,943 21,528 45,959 5,757 12,660 33,422
Expenditures:
Current :
General government
Transfers in
Transfers out (84) (3,438) (6,971)
Total other financing sources (uses) (84) (3,438) (6,971)
Net change in fund balances 6,672 1,745 (1,099) 1,609 (462) (1,375) 496
Fund balances – beginning 4,585 104,281 5,101 3,379 2,489 2,492 1,342
COUNTY OF SACRAMENTO
NONMAJOR GOVERNMENTAL FUNDS – SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Page 2 of 3
Light ing and
Landscape Park Districts
Maintenance and Park Water Stormwater Communit y
Districts Service Areas Agencies Utility Tobacco Services Golf
Revenues:
Taxes $ 387 8,218 7,120
General government 3,626 31,121 10,559
Public assistance 36,764
Public protection
Health and sanitation 7,054
Public ways and facilities
Fund balances – beginning 3,107 8,963 54,828 21,105 41,328 474 226
Fund balances – ending $ 3,178 10,155 53,365 21,219 36,871 812 (413)
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COUNTY OF SACRAMENTO
NONMAJOR GOVERNMENTAL FUNDS – SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Page 3 of 3
Tobacco
Economic Roadway Fee Securitization Environmental
Development District Authority Management Other Total
Revenues:
Taxes $ 2,022 81,054
Use of money and property 3,061 698 2 195 137 17,039
Licenses and permits 25 2,199 13,687 31,018
Intergovernmental 8,680 165 2,084 115,495
Charges for sales and services 1,367 2 642 1,366 77,879
Fines, forfeitures and penalties 27 27
Recreation and culture 25 31,108
Education 22,627
Capital outlay 25,955
Total expenditures 25,220 2,229 156 18,346 1,999 343,409
Excess (deficiency) of revenues over (under) expenditures (5,759) 842 14,708 321 3,637 10,441
COUNTY OF SACRAMENTO
ROAD SPECIAL REVENUE FUND
SCHEDULE OF REVENUES AND EXPENDITURES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Variance with
Total revenues 68,953 77,035 56,843 (20,192)
Expenditures:
Current:
Public ways and facilities 71,562 80,111 50,171 29,940
Excess (deficiency) of revenues over (under) expenditures (2,609) (3,076) 6,672 9,748
COUNTY OF SACRAMENTO
FIRST 5 COMMISSION SPECIAL REVENUE FUND
SCHEDULE OF REVENUES AND EXPENDITURES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Revenues:
Use of money and property
Intergovernmental
Miscellaneous
Original Budget Final Budget
3,605 $ 3,605
16,747 16,747
Actual
2,588
17,355
Va ria n ce wit h
Final Budget–
Positive
(Negative)
(1,017)
608
(40)
COUNTY OF SACRAMENTO
LIBRARY SPECIAL REVENUE FUND
SCHEDULE OF REVENUES AND EXPENDITURES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Va ria n c e wit h
Final Budget–
Positive
Original Budget Final Budget Actual (Negative)
Revenues:
Taxes $ 21,530 21,530 21,019 (511)
Use of money and property 70 70 242 172
Intergovernmental 273 273 267 (6)
Net change in fund balance $ (1,910) (1,598) (1,099) 499
COUNTY OF SACRAMENTO
TRANSPORTATION SALES TAX SPECIAL REVENUE FUND
SCHEDULE OF REVENUES AND EXPENDITURES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2009
(amounts expressed in thousands)
Variance with
Final Budget–
Positive
Original Budget Final Budget Actual (Negative)
Revenues :
Taxes $ 44,763 57,620 35,525 (22,095)
Use of money and property 200 200 177 (23)
Intergovernmental 43,632 43,903 9,971 (33,932)