City Of Costa Mesa, California
FISCAL
YEAR ENDED
JUNE 30, 2023
Annual
Comprehensive
Financial
Report
Attachment 5
CITY OF COSTA MESA, CALIFORNIA
Notes to the Basic Financial Statements
Year ended June 30, 2023
(9) Long-Term Liabilities (Continued)
The annual debt service requirements for the finance lease as of June 30, 2023 is as follows:
(10) Fund Balances
Fund balance consisted of the following at June 30, 2023:
1. Restricted fund balances in the Public Services category consist of fund balances in the Gas Tax, Air Quality Improvement, Lions Park Capital Improvements, and Measure “M2” Construction funds. Revenues received in these funds are legally restricted for specific purposes, such as transportation and facility related capital projects.
2. The fund balance committed for declared disasters was adopted by Ordinance No. 91-20 and Municipal Code Section 2-206 to provide required funding as a result of a declared emergency by the City Council for an unanticipated but urgent event threatening the public health, safety and welfare of the City. Any fund balance utilized has to be replenished.
Year
Ending
June 30 Principal Interest Total
2024 158,264 $ 28,381 $ 186,645 $
2025 161,586 25,059 186,645
2026 167,516 19,129 186,645
2027 173,664 12,981 186,645
2028 180,038 6,605 186,643
Total 841,068 $ 92,155 $ 933,223 $
Government Gas Tax
American
Rescue Capital Non-Major
General Grants Fund Plan Act Fund Improvements Funds
Nonspendable:
Prepaid items 373,530 $ - $ - $ - $ - $ - $ Inventories 85,157 - - - - - Restricted for:
Pension and OPEB 3,178,229 - - - - - Protection of persons and property - 262,850 - 258,379 - 1,376,549 Community programs - - - - - 9,179,963 Public services (1) - - 17,556,354 - - 6,580,177 Debt service - - - - - 7,278 Committed for:
Declared disasters (2) 14,125,000 - - - - - Self insurance (3) 2,000,000 - - - - - Economic reserves (4) 9,000,000 - - - - - Assigned for:
Compensated absences 6,209,276 - - - - - Police Retirement 1% Supplemental 1,737,346 - - - - - Workers compensation 2,000,000 - - - - - Facilities reserve 2,000,000 - - - - - Strategic plan projects 2,000,000 - - - - - Protection of persons and property - - - - - 642,253 Public services - - - 31,538,022 12,500,167 Unassigned 16,328,416 - - - - 961,694 Total Fund Balance 59,036,954 $ 262,850 $ 17,556,354$ 258,379 $ 31,538,022$ 31,248,081 $ Major Funds
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