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2013/01/10 Successor Agency Oversight Board Resolution S • RESOLUTION NO. OSB 2013-01 RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY CITY OF ROHNERT PARK APPROVING THE DUE DILIGENCE REVIEW OF ALL OTHER FUNDS OF THE SUCCESSOR AGENCY (EXCLUDING THE LOW AND MODERATE INCOME HOUSING FUND) REQUIRED BY CALIFORNIA HEALTH & SAFETY CODE SECTION 34179.5 WHEREAS, California Health and Safety Code ("HSC") Section 34179.5 requires each successor agency to employ a licensed accountant to conduct a due diligence review ("DDR") of former redevelopment agency assets to determine the unobligated balances available for transfer to taxing entities; WHEREAS, HSC Section 34179.5 also requires an accounting for the unobligated balance of All Other Funds of the Successor Agency excluding the Low and Moderate Income Housing Fund ("All Other Funds") separate from the accounting for the unobligated balance of the Low and Moderate Income Housing Fund; WHEREAS, the All Other Funds DDR attached as "Exhibit A" to this resolution complies with the HSC requirements outlined in HSC Section 34179.5(c); . WHEREAS, in accordance with HSC Section 34179.6(b), the Oversight Board convened a public comment session to receive public comments on the All Other Funds DDR on January 3, 2013,at which it received no comments from the public; WHEREAS, the All Other Funds DDR concludes that there are no assets available to be remitted to the County for disbursement to taxing entities; WHEREAS, the Oversight Board has considered all information related to this matter, including any supporting reports by Successor Agency staff, and any information presented or provided during public meetings. NOW, THEREFORE, BE IT RESOLVED by the Oversight Board for the Successor Agency City of Rohnert Park, as follows: 1. The Oversight Board hereby finds and determines that the foregoing recitals are true and correct. The recitals, together with (i) the All Other Funds DDR; (ii) the ROPS; (iii) information provided by the Successor Agency staff; and (iv) information provided by the public at the public comment session held by the Oversight Board on January 3, 2013, form the basis for the approvals, authorizations, findings and determinations set forth in this Resolution. 2. The Oversight Board hereby approves the All Other Funds DDR. 3. The Oversight Board hereby determines that there are no assets available to be remitted to the County for disbursement to taxing entities as determined in accordance with the method provided in Section 34179.5 and as set forth in the MI Other Funds DDR. 0 • • 4. In accordance with HSC Section 34179.6(c), the Board hereby directs Successor Agency staff to transmit the approved All Other Funds DDR to DOF and the Sonoma County Auditor-Controller by January 15, 2013, and to specifically identify the amount of cash and cash equivalents that are available for disbursement to taxing entities and the amount of funds authorized for retention, the source of those funds, and the purposes for which those funds are being retained. DULY AND REGULARLY ADOPTED by the Oversight Board for the Successor Agency City of Rohnert Park this 10th day of January, 2013. OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY CITY OF ROHNERT PARK Chair Shir s ne 0 ATTEST: Eydie Tacata,Clerk of the Board • EXHIBIT A to Resolution No. OSB 2013-01 Successor Agency to the Community Development Commission of the City of Rohnert Park Independent Accountants' Report on Applying Agreed-Upon Procedures pursuant to AB 1484 (All Other Funds) June 30, 2012 • • 0 . • VAVRINEK, TRINE, DAY & COMPANY, LLP ILE. Cerrifled PuMwAccountanu VALUE THE DIFFERENCE INDEPENDENT ACCOUNTANTS' REPORT ON APPLYING AGREED-UPON PROCEDURES Oversight Board of the Successor Agency to the Community Development Commission of the City of Rohnert Park City of Rohnert Park,California We have performed the Agreed-Upon Procedures enumerated in Exhibit A, which were agreed to by the California State Controller's Office,the California Department of Finance, the County Auditor-Controller, and the Successor Agency to the Community Development Commission of the City of Rohnert Park to determine the Successor Agency All Other Fund's unobligated balances that are available for transfer to taxing entities,solely to assist you in ensuring that the Successor Agency is complying with its statutory requirements with respect to Health and Safety Code Section 34179.5. Management of the Successor Agency is responsible for the accounting records pertaining to statutory compliance pursuant to Health and Safety Code Section 34179.5. This Agreed- Upon Procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the responsibility of those parties specified in the report. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. Exhibit A,B, and Exhibits C through C-5 identify the procedures and findings. We were not engaged to, and did not conduct an audit, the objective of which would be the expression of an opinion as to the appropriateness of the results summarized in Exhibit A, B and Exhibits C through C-5. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. This report is intended solely for the information and use of the Successor Agency Oversight Board, the Successor Agency, the California State Controller's Office, the California Department of Finance, the County Auditor-Controller, and is not intended to be,and should not be used by anyone other than these specified parties. This restriction is not intended to limit distribution of this report,which is a matter of public record_ ;yer',1cL1 �r.n4 Pay ¶ C • LL( • Pleasanton,California December 24,2012 II 1 5000 Hopyard Road,Suite 335 Pleasanton,CA 94588 Tel:925.734.6500 Fax:925.734.6611 www.vtdcpa.corn FRESNO • LAGUNA HILLS • PALO ALTO • PLEASANTON • RANCHO CUCAMONGA • RIVERSIDE • SACRAMENTO • SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF ROHNERT PARK EXHIBIT A AGREED UPON PROCEDURES PURSUANT TO AB 1484 ALL OTHER FUNDS Our procedures and findings are as follows: A. All Other Funds of the Successor Agency For each Successor Agency fund, (excluding the Low and Moderate Income Housing Fund) the following procedures were performed: 1. Obtain from the Successor Agency a listing of all assets that were transferred from the former redevelopment agency(RDA)to the Successor Agency on February 1, 2012. Agree the amounts on this listing to account balances established in the accounting records of the Successor Agency. Identify in the Agreed-Upon Procedures(AUP)report the amount of the assets transferred to the Successor Agency as of that date. Findings — We obtained from the Successor Agency a listing of all assets that were transferred from the former redevelopment agency to the Successor Agency on February 1, 2012. We agreed the amounts on this listing to account balances established in the accounting records of the Successor Agency noting the total balance of all assets that were transferred to the Successor Agency on February 1, 2012, was $47,478,637, and consisted of cash and cash equivalents, restricted cash and investments,advances due from the City of Rohnert Park,and capital assets. 2. If the State Controller's Office has completed its review of transfers required under both Sections 34167.5 and 34178.8 and issued its report regarding such review, attach a copy of that report as an exhibit to the AUP report. If this has not yet occurred,perform the following procedures. A. Obtain a listing prepared by the Successor Agency of transfers (excluding payments for goods and services) from the former redevelopment agency to the city, county, or city and county that formed the redevelopment agency for the period from January 1, 2011 through January 31, 2012. For each transfer, the Successor Agency should describe the purpose of the transfer and describe in what sense the transfer was required by one of the Agency's enforceable obligations or other legal requirements. Provide this listing as an attachment to the AUP report. B_ Obtain a listing prepared by the Successor Agency of transfers (excluding payments for goods and services) from the Successor Agency to the city, county, or city and county that formed the redevelopment agency for the period from February 1,2012 through June 30,2012. For each transfer, the Successor Agency should describe the purpose of the transfer and describe in what sense the transfer was required by one of the Agency's enforceable obligations or other legal requirements. Provide this listing as an attachment to the AUP report. • i . SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION 4111 OF THE CITY OF ROHNERT PARK EXHIBIT A AGREED UPON PROCEDURES PURSUANT TO AB 1484 ALL OTHER FUNDS C. For each transfer, obtain the legal document that formed the basis for the enforceable obligation that required any transfer. Note in the AUP report the absence of any such legal document or the absence of language in the document that required the transfer. Findings —The Successor Agency asserted the State Controller's Office has not indicated to the Successor Agency that they have completed a review of transfers required under both Sections 34167.5 and 34178.8. A listing of the transfers for the period January 1, 2011 through January 31, 2012 is included as Exhibit C of the AUP report. We noted the $11,505,035 transferred to the City consisted of capital assets net of accumulated depreciation. These assets were subsequently transferred to the Successor Agency on February 1,2012. The Successor Agency asserted no transfers were made from the Successor Agency to the City for the period from February 1, 2012 through June 30, 2012. 3. If the State Controller's Office has completed its review of transfers required under both Sections 34167.5 and 34178.8 and issued its report regarding such review, attach a copy of that report as an exhibit to the AUP report. If this has not yet occurred,perform the following procedures: • A. Obtain a listing prepared by the Successor Agency of transfers (excluding payments for goods and services) from the former redevelopment agency to any other public agency or to private parties for the period from January 1, 2011 through January 31, 2012. For each transfer,the Successor Agency should describe the purpose of the transfer and describe in what sense the transfer was required by one of the Agency's enforceable obligations or other legal requirements. Provide this listing as an attachment to the AUP report. B. Obtain a listing prepared by the Successor Agency of transfers (excluding payments for goods and services) from the Successor Agency to any other public agency or private parties for the period from February 1, 2012 through June 30, 2012, For each transfer, the Successor Agency should describe the purpose of the transfer and describe in what sense the transfer was required by one of the Agency's enforceable obligations or other legal requirements. Provide this listing as an attachment to the AUP report. C. For each transfer, obtain the legal document that formed the basis for the enforceable obligation that required any transfer. Note in the AUP report the absence of any such legal document or the absence of language in the document that required the transfer. 3 • 0 SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF ROHNERT PARK EXHIBIT A AGREED UPON PROCEDURES PURSUANT TO AB 1484 ALL OTHER FUNDS Findings — The Successor Agency asserted the State Controller's Office has not indicated to the Successor Agency that they have completed a review of transfers required under both Sections 34167.5 and 34178.8. The Successor Agency also asserted no transfers were made from the former redevelopment agency or the Successor Agency to any other public agency or to private parties for the period from January 1, 2011 through January 31, 2012, and the period February 1, 2012 through June 30,2012,respectively. 4. Perform the following procedures: A. Obtain from the Successor Agency a summary of the financial transactions of the Redevelopment Agency and the Successor Agency in the format set forth in the attached schedule for the fiscal periods indicated in the schedule. For purposes of this summary, the financial transactions should be presented using the modified accrual basis of accounting. End of year balances for capital assets (in total) and long-term liabilities (in total) should be presented at the bottom of this summary schedule for information purposes. B. Ascertain that for each period presented, the total of revenues, expenditures, and transfers accounts fully for the changes in equity from the previous fiscal period. C. Compare amounts in the schedule relevant to the fiscal year ended June 30, 2010, to the State Controller's report filed for the Redevelopment Agency for that period. D. Compare amounts in the schedule for the other fiscal periods presented to account balances in the accounting records or other supporting schedules. Describe in the report the type of support provided for each fiscal period_ Findings—We obtained from the Successor Agency a summary of the financial transactions. We determined through recalculation that the total revenues, expenditures, and transfers fully accounts for the changes in equity form the previous fiscal periods. The amounts in the schedule for June 30,2010 were agreed to the State Controllers Annual Financial Transactions filed by the Redevelopment Agency noting no exceptions. We agreed the fiscal year ended June 30, 2011 balances per the schedule to the Redevelopment Agency's audited financial statements and agreed the periods ended January 31, 2012 and June 30, 2012 balances to the accounting records of the former Redevelopment Agency and the Successor Agency, respectively, noting no exceptions.The summary of financial transactions is included in Exhibit B of the AUP report. I 4 r • SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF ROHNERT PARK • EXHIBIT A AGREED UPON PROCEDURES PURSUANT TO AB 1484 ALL OTHER FUNDS 5. Obtain from the Successor Agency a listing of all assets of other funds as of June 30, 2012 (excluding the previously reported assets of the Low and Moderate Income Housing Fund) for the report that is due December 15, 2012. When this procedure is applied to the All Other Successor Agency Funds, the schedule attached as an exhibit will include only those assets of the All Other Assets Funds that were held by the Successor Agency as of June 30, 2012 and will exclude all assets held by the entity that assumed the housing function previously performed by the former redevelopment agency. Agree the assets listed to recorded balances reflected in the accounting records of the Successor Agency. The listings should be attached as an exhibit to the appropriate AUP report. Findings — For the Successor Agency All Other Funds, we agreed the assets listed to the recorded balances reflected in the Successor Agency's accounting records. We noted the asset balance of the Successor Agency All Other Funds as of June 30, 2012 was S44,941,279. See Exhibit C-1 for the listing of these assets. b. Obtain from the Successor Agency a listing of asset balances held on June 30, 2012, that are restricted for the following purposes: A. Unspent bond proceeds: i. Obtain the Successor Agency's computation of the restricted balances (e.g., total proceeds less eligible project expenditures,amounts set aside for debt service payments,etc.). ii. Trace individual components of this computation to related account balances in the accounting records, or to other supporting documentation (specify in the AUP report a description of such documentation). iii. Obtain from the Successor Agency a copy of the legal document that sets forth the restriction pertaining to these balances. Note in the AUP report the absence of language restricting the use of the balances that were identified by the Successor Agency as restricted. B. Grant proceeds and program income that are restricted by third parties: i. Obtain the Successor Agency's computation of the restricted balances (e.g., total proceeds less eligible project expenditures). ii. Trace individual components of this computation to related account balances in the accounting records, or to other supporting documentation (specify in the AUP report a description of such documentation). iii. Obtain from the Successor Agency a copy of the grant agreement that sets forth the restriction pertaining to these balances. Note in the AUP report the absence of language restricting the use of the balances that were identified by the Successor Agency as restricted. r 5 • • SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF ROHNERT PARK 0 EXHIBIT A AGREED UPON PROCEDURES PURSUANT TO AB 1484 ALL OTHER FUNDS C. Other assets considered to be legally restricted: i_ The Successor Agency's computation of the restricted balances (e.g., total proceeds less eligible project expenditures). ii. Trace individual components of this computation to related account balances in the accounting records, or to other supporting documentation (specify in the AUP report a description of such documentation). iii. Obtain from the Successor Agency a copy of the legal document that sets forth the restriction pertaining to these balances. Note in the AUP report the absence of language restricting the use of the balances that were identified by Successor the Agency as restricted. D. Attach the above mentioned Successor Agency prepared schedule(s) as an exhibit to the AUP report. For each restriction identified on these schedules, indicate in the report the period of time for which the restrictions are in effect. If the restrictions are in effect until the related assets are expended for their intended purpose,this should be indicated in the report. Findings - The Successor Agency asserted that assets totaling $9,287,422 were restricted as the assets unspent bond proceeds. For the unspent bond proceeds, we traced the balances to the fiscal agent bank statements without exception. We obtained copies of the official statements relating to the bond issues noted at Exhibit C-2, noting that the bonds were issued to finance redevelopment projects in or for the benefit of the Redevelopment project areas. • 7. Perform the following procedures: A. Obtain from the Successor Agency a listing of assets as of June 30, 2012, that are not liquid or otherwise available for distribution(such as capital assets, land held for resale, long-term receivables, etc.)and ascertain if the values are listed at either purchase cost(based on book value reflected in the accounting records of the Successor Agency) or market value as recently estimated by the Successor Agency. B. If the assets listed at 7(A) are listed at purchase cost, trace the amounts to a previously audited financial statement(or to the accounting records of the Successor Agency)and note any differences. C. For any differences noted in 7(B), inspect evidence of disposal of the asset and ascertain that the proceeds were deposited into the Successor Agency trust fund. If the differences are due to additions (this generally is not expected to occur), inspect the supporting documentation and note the circumstances. I 6 SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF ROHNERT PARK EXHIBIT A AGREED UPON PROCEDURES PURSUANT TO AB 1484 ALL OTHER FUNDS D. If the assets listed at 7(A)are listed at recently estimated market value, inspect the evidence (if any) supporting the value and note the methodology used. If no evidence is available to support the value and\or methodology,note the lack of evidence. Findings — The Successor Agency asserted that the Successor Agency All Other Funds had capital assets, lone term receivables, and deferred charges that are considered non-liquid assets. These assets are recorded at cost and have a total book value of S31,943,995. Capital assets with a net book value of S20,266,255 consisted of land,buildings, and improvements net of accumulated depreciation. Long-term receivables consisted of advances receivable from the City of Rohnert Park issued by the former RDA with a book value of $10,344,225. Deferred charges of S1,333,515 represent unamortized bond issuance costs. We traced all of the non-liquid assets to the Successor Agency accounting records noting no differences. A listing of the non-liquid assets in included in Exhibit C-3. 8. Perform the following procedures: A. If the Successor Agency believes that asset balances need to he retained to satisfy enforceable obligations, obtain from the Successor Agency an itemized schedule of asset balances (resources) as of June 30, 2012, that are dedicated or restricted for the funding of enforceable obligations and perform the following procedures. The schedule should identify the amount dedicated or restricted, the nature of the dedication or restriction, the specific enforceable obligation to which the dedication or restriction relates, and the language in the legal document that is associated with the enforceable obligation that specifies the dedication of existing asset balances toward payment of that obligation. i. Compare all information on the schedule to the legal documents that form the basis for the dedication or restriction of the resource balance in question. ii. Compare all current balances to the amounts reported in the accounting records of the Successor Agency or to an alternative computation. iii. Compare the specified enforceable obligations to those that were included in the final Recognized Obligation Payment Schedule(ROPS)approved by the California Department of Finance. iv. Attach as an exhibit to the report the listing obtained from the Successor Agency. Identify in the report any listed balances for which the Successor Agency was unable to provide appropriate restricting language in the legal document associated with the enforceable obligation. B. If the Successor Agency believes that future revenues together with balances dedicated or restricted to an enforceable obligation are insufficient to fund future obligation payments and thus retention of current balances is required, obtain from the Successor Agency a schedule of approved enforceable obligations that includes a projection of the annual spending requirements to satisfy each obligation and a projection of the annual revenues available to fund those requirements and perform the following procedures: i. Compare the enforceable obligations to those that were approved by the California Department of Finance. Procedures to accomplish this may include reviewing the letter from the California Department of Finance approving the Recognized Enforceable Obligation Payment Schedules for the six month period from January 1, 2012 through June 30, 2012, and for the six month period July I,2012 through December 31,2012. ii. Compare the forecasted annual spending requirements to the legal document supporting each enforceable obligation. 7 • i SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF ROHNERT PARK EXHIBIT A AGREED UPON PROCEDURES PURSUANT TO AB 1484 ALL OTHER FUNDS a, Obtain from the Successor Agency its assumptions relating to the forecasted annual spending requirements and disclose in the report major assumptions associated with the projections. iii. For the forecasted annual revenues: a. Obtain from the Successor Agency its assumptions for the forecasted annual revenues and disclose in the report major assumptions associated with the projections. C. If the Successor Agency believes that projected property tax revenues and other general purpose revenues to be received by the Successor Agency are insufficient to pay bond debt service payments (considering both the timing and amount of the related cash flows), obtain from the Successor Agency a schedule demonstrating this insufficiency and apply the following procedures to the information reflected in that schedule. i. Compare the timing and amounts of bond debt service payments to the related bond debt service schedules in the bond agreement. ii. Obtain the assumptions for the forecasted property tax revenues and disclose major assumptions associated with the projections. iii. Obtain the assumptions for the forecasted other general purpose revenues and disclose major assumptions associated with the projections. D. If procedures A, B, or C were performed, calculate the amount of current unrestricted balances necessary for retention in order to meet the enforceable obligations by performing the following 40 procedures. i. Combine the amount of identified current dedicated or restricted balances and the amount of forecasted annual revenues to arrive at the amount of total resources available to fund enforceable ob]igations. ii. Reduce the amount of total resources available by the amount forecasted for the annual spending requirements. A negative result indicates the amount of current unrestricted balances that needs to be retained. iii. Include the calculation in the AU?report. Findings —The Successor Agency asserted that no asset balances need to be retained to satisfy enforceable obligations under step 8. 'Therefore, we did not perform the procedures in step 8. 9. If the Successor Agency believes that cash balances as of June 30, 2012, need to be retained to satisfy obligations on the ROPS for the period of July 1, 2012 through June 30, 2013, obtain a copy of the final ROPS for the period of July 1, 2012 through December 31, 2012 and a copy of the final ROPS for the period January 1, 2013 through June 30, 2013. For each obligation listed on the ROPS, the Successor Agency should add columns identifying(1)any dollar amounts of existing cash that are needed to satisfy that obligation,and(2)the Successor Agency's explanation as to why the Successor Agency believes that such balances are needed to satisfy the obligation. Include this schedule as an attachment to the AUP report. Findings—The Successor Agency asserted that the Successor Agency All Other Funds that cash balances in the amount of $2,715,897 as of June 30, 2012, need to be retained to satisfy enforceable obligation on the ROPS for the period of July 1, 2012 thorugh December 31, 2012. The cash balance will be retained to fund enforceable obligations . A schedule of the asset balances retained is at Exhibit C-4. 8 • 11111 SUCCESSOR AGENCY TO THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF ROHNERT PARK 41110 EXHIBIT A AGREED UPON PROCEDURES PURSUANT TO AB 1484 ALL OTHER FUNDS 10. Include (or present) a schedule detailing the computation of the Balance Available for Allocation to Affected Taxing Entities. Amounts included in the calculation should agree to the results of the procedures performed in each section above. The schedule should also include a deduction to recognize amounts already paid to the County Auditor-Controller on July 12, 2012, as directed by the California Department of Finance. The amount of this deduction presented should be agreed to evidence of payment. The attached example summary schedule may be considered for this purpose. Separate schedules should be completed for the Low and Moderate Income Housing Fund and for all other funds combined (excluding the Low and Moderate Income Housing Fund). Findings—The Successor Agency prepared a schedule detailing the computation of the Summary of Balances Available for Allocation to Affected Taxing Entities. (See Exhibit C-5.) 11. Obtain a representation letter from Successor Agency management acknowledging their responsibility for the data provided to the practitioner and the data presented in the report or in any attachments to the report. Included in the representations should be an acknowledgment that management is not aware of any transfers (as defined by Section 341795) from either the former redevelopment agency or the Successor Agency to other parties for the period from January 1, 2011 through June 30, 2012 that have not been properly identified in the AUP report and its related exhibits. Management's refusal to sign the representation letter should be noted in the AUP report as required by attestation standards. Findings - We have obtained management's written representations acknowledging their responsibility as outlined in procedure#1 1 S 9 0 Successor Agency to the Community Development Commission Exhibit B • of the City of Rohnert Park Summary of Financial Transactions Unaudited Redevelopment Redevelopment Redevelopment Successor Agency Agency Agency Agency 12 Months Ended 12 Months Ended 7 Months Ended 5 Months Ended 6/30/2010 6/30/2011 1/31/2012 6/30/2012 Modified Accrual Modified Accrual Modified Accrual Full Accrual Assets Cash& investments S 2,034,935 S 3,905,037 $ 6,320,548 $ 3,134,901 Receivables net: Taxes 44,657 - - - Accounts 504,930 - - - Accrued interest 6,582 7,064 - 87 Due from other funds 14,627 14,627 - - Deferred charges - - - 1,333,515 Restricted cash&investments 22,850,703 22,250,440 23,731,443 9,862,296 Loans&Notes receivable,net 9,092,186 9,459,392 11,869,924 - Advances due from the City of Rohnert Park 10,344,225 10,344,225 10,344,225 10,344,225 Non current assets Capital asset: - - - - Land - - - 4,934,147 Building&Improvements - - - 29,848,803 Construction in Progress - - - 805,264 Accumulated Depreciation - - - (15,321,959) Total Assets $ 44,892,845 $ 45,980,785 $ 52.266,140 $ 44,941,279 III Liabilities Accounts Payable $ 168,121 S 224,344 S - $ 1,782,661 Accrued liabilities-interest payable - - - 800,000 Due to other funds 25,465 23,317 320,594 8,186 Deposits - - 1,668,467 - Deferred revenue 980,802 837,979 240,000 - Advances from other funds - - - - Non current liabilities Bond payable - - 65,095,538 Total Liabilities 1.174,388 1,085,640 2-229,061 67,686,385 Equity 43,718,457 44,895,145 50,037,079 (22,745,106) Total Liabilities+Equity $ 44,892,845 $ 45,980,785 S 52,266.:40 S 44,941,279 Total Revenues: $ 15,209,075 $ 14,586,033 $ 13,936,769 S 100,653 Total Expenditures: 32,719,172 13,409,346 8,794,815 4,454,056 Extraordinary gain(loss)on dissolution of RDA: (18,391,703) Total Transfers: - - - - Net change in equity (17,510,097) 1,176,687 5,141,934 (22,745,106) Beginning Equity: 61,228,555 43,718,458 44,895,145 - Ending Equity: $ 43,718,458 $ 44,895,145 S 50,037,079 $ (22,745,106) S 10 0 (Continued from previous page) Exhibit B(Continued) 0 Other Information(show year end balances for all years' periods presented): Capital assets as of end of year Land $ 9,282,145 $ - $ 9,282,145 S 4,934,147 Buildings&Improvements 27,198,995 28,579,721 31,666,812 29,848,803 Equipment 805,264 805,264 805,264 805,264 Construction in Progress 4,606,469 320,708 320,708 - Accumulated Depreciation (13,087,105) (13,196,918) (14,129,886) (15,321.959) $ _28,805,768 $ 16,508,775 $ 27,945,041 S 20,266,255 Long-term debt as of end of year Loan from City of Rohner Park S 2,158,000 S 2,075,000 5 2,075,000 5 2,075,000 2003 Loan RPFA 4,752,000 4,513,500 4,270,500 4,270,500 1991 Tax Allocation Refunding Bonds 1,035,326 534,387 - 1999 Tax Allocation Bonds 14,987,973 15,501,743 15,715,038 15,715,038 2001 Tax Allocation Bonds 6.735,000 6,665,000 6,595,000 6,595,000 2007 Tax Allocation Bonds: Redevelopment Project 20,395,000 20,395,000 20.395,000 20.395.000 Housing 16,360,000 16,205,000 16,045,00(1 16,045,000 S 66,423 299 S 65,889.630 $ 65,095,538 ) 65.095,538 • II 11 • • u ,x Li, y 0 s let C = W N U o et 4 a C OY' ,t PVC co 0 g Y. C 14 L. V in 0 < < r C z C ;I.roty C e Y et L T V. 61 I- u C d LA z F C, < 0 u i Z R N ge, i I J• CO L., < F r in N G. L C. t C a F e _ J v O y O C O v y N Z E 07 E a. o G ` e. o v, < `a- �• < 0 cL, I- C e C 0 L.. `a Y a _T ` 11. Y .Y 4 c tA Ory FA E p W < Gill ~ r C O C L. a+ .0 i^ CO Cif h F„ NC V '"a vi 4. 47 O - Oo d cn • dCD < - O Z. JUl s zt 4 ! 0 • Successor Agency to the Community Development Commission Exhibit C-1 of the City of Rohnert Park All Other Funds-Listing of Assets As of June 30,2012-Unaudited Note: Excludes all assets held by the entity that assumed the housing.function of the former RDA Assets Cash and investments 912-101-0011 Cash from Prop Tax I cr $ 2,768,782 912-101-0030 Interest F/Bond Proceed 53,487 912-101-0032 Other Cash(non-Bonds) 422 912-0001-101-0011 LAIFCDC 42,262 912-0003-101-0011 CD Investment 199,000 912-0004-101-0011 SCIP CDC Savings 23,056 912-0009-101-0011 Exchange Bank Savings 47,891 Total 3,134,900 Interest receivable 912-1 15-1 149 Interest Receivable 87 Total 87 0 Cash/investments w/Fiscal Agent 912-101-0034 Interest from Increment 574,873 912-103-0003 CDC Bond Proceeds-CWFA 627,404 912-103-0004 2007R TABs Redevelopment CWFA 5,693,178 952-103-0018 Reserve Fund CWFA 1,092,565 952-103-0019 RsveFnd-CD Investments-CWFA 667,000 953-101-0001 Cash 1,207,276 954-103-0001 CWFA 2007-R TABs 1 Total 9,862,297 Other(break-out/delineate as appropriate) 912-130-1300/1301 Due from the City of Rohnert Park 10,344,225 930-9100 to 9700 Capital Assets 20,266,255 930-9100 to 9700 Deferred Charges 1,333,515 Total 31,943,995 TOTAL ASSETS AT 6/30/2012: S 44,941,279 13 • e e., . z U c. c `c o 0 0 0 • m. 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