HomeMy WebLinkAboutJ Agency FundsAGENCY FUNDS
Agency Funds are used to account for assets held by the city as an agent for individuals, private
organizations, other governments and/or funds.
Agency Fund - This fund is used to account for deposits placed with the City by developers, individuals
and groups to obtain future services. Deposits are reduced by disbursements and/or refunds to the
depositors when the cost of services is determined.
Treasurers 1911 Bond Act - This fund is used to account for the assets held on behalf of the assessment
district’s property owners until they are remitted to the bondholders.
Retiree Service Stipend Fund - This fund is used to account for assets held to pay for the retiree service
stipend.
Special Assessment Funds - These funds are used to account for the collection of special assessments
and the future payment of debt service related to bonds issued.
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CITY OF PALM DESERT
COMBINING STATEMENT OF ASSETS AND LIABILITIES
ALL AGENCY FUNDS
JUNE 30, 2018
Totals
Assets:
Pooled cash and investments 1,948,057$ 268,804$ 1,325,341$ 7,825,196$ 11,367,398$
Receivables:
Accounts 1,875 ---1,875
Assessments --- 53,894,172 53,894,172
Accrued interest ---15,197 15,197
Due from other governments 47,008 --22,460 69,468
Restricted assets:
Cash and investments with fiscal agents ---4,682,972 4,682,972
Total Assets 1,996,940$ 268,804$ 1,325,341$ 66,439,997$ 70,031,082$
Liabilities:
Deposits payable 1,996,940$ 268,804$ 1,325,341$ 66,439,997$ 70,031,082$
Total Liabilities 1,996,940 $ 268,804 $ 1,325,341 $ 66,439,997 $ 70,031,082 $
Agency
Treasurers
1991 Bond Act
Retiree
Service
Stipend Fund
Special
Assessment
Funds
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CITY OF PALM DESERT
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
ALL AGENCY FUNDS
YEAR ENDED JUNE 30, 2018
Balance Balance
July 1, 2017 Additions Deductions June 30, 2018
AGENCY
ASSETS:
Pooled cash and investments 3,092,350$ 2,964,144$ 4,108,437$ 1,948,057$
Receivables:
Accounts - 1,875 - 1,875
Due from other governments 47,703 47,008 47,703 47,008
TOTAL ASSETS 3,140,053$ 3,013,027$ 4,156,140$ 1,996,940$
LIABILITIES:
Deposits 3,140,053$ 3,013,027$ 4,156,140$ 1,996,940$
TOTAL LIABILITIES 3,140,053$ 3,013,027$ 4,156,140$ 1,996,940$
TREASURERS 1911 BOND ACT
ASSETS:
Pooled cash and investments 270,664$ -$ 1,860$ 268,804$
TOTAL ASSETS 270,664$ -$ 1,860$ 268,804$
LIABILITIES:
Deposits payable 270,664$ -$ 1,860$ 268,804$
TOTAL LIABILITIES 270,664$ -$ 1,860$ 268,804$
RETIREE SERVICES STIPEND FUND
ASSETS:
Pooled cash and investments 2,278,600$ 283,687$ 1,236,946$ 1,325,341$
TOTAL ASSETS 2,278,600$ 283,687$ 1,236,946$ 1,325,341$
LIABILITIES:
Deposits payable 2,278,600$ 283,687$ 1,236,946$ 1,325,341$
TOTAL LIABILITIES 2,278,600$ 283,687$ 1,236,946$ 1,325,341$
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CITY OF PALM DESERT
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
ALL AGENCY FUNDS
YEAR ENDED JUNE 30, 2018
Balance Balance
July 1, 2017 Additions Deductions June 30, 2018
SPECIAL ASSESSMENT FUNDS
ASSETS:
Pooled cash and investments 8,311,961$ 6,687,879$ 7,174,644$ 7,825,196$
Receivables:
Assessments 57,387,797 - 3,493,625 53,894,172
Accrued interest 7,685 15,197 7,685 15,197
Due from other governments 310,849 22,459 310,848 22,460
Restricted assets:
Cash and investments with fiscal agents 5,454,155 323,032 1,094,215 4,682,972
TOTAL ASSETS 71,472,447$ 7,048,567$ 12,081,017$ 66,439,997$
LIABILITIES:
Deposits payable 71,472,447$ 7,048,567$ 12,081,017$ 66,439,997$
TOTAL LIABILITIES 71,472,447$ 7,048,567$ 12,081,017$ 66,439,997$
TOTAL - ALL AGENCY FUNDS
ASSETS:
Pooled cash and investments 13,953,575$ 9,935,710$ 12,521,887$ 11,367,398$
Receivables:
Accounts - 1,875 - 1,875
Assessments 57,387,797 - 3,493,625 53,894,172
Accrued interest 7,685 15,197 7,685 15,197
Due from other governments 358,552 69,467 358,551 69,468
Restricted assets:
Cash and investments with fiscal agents 5,454,155 323,032 1,094,215 4,682,972
TOTAL ASSETS 77,161,764$ 10,345,281$ 17,475,963$ 70,031,082$
LIABILITIES:
Deposits payable 77,161,764$ 10,345,281$ 17,475,963$ 70,031,082$
TOTAL LIABILITIES 77,161,764$ 10,345,281$ 17,475,963$ 70,031,082$
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