HomeMy WebLinkAboutPOWERPOINT PRESENTATION (COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR YEAR ENDED JUNE 30, 2015)Item No. 8
City of Tustin
Comprehensive Annual Financial Report (CAFR)
For theYear Ended June 30, 2015
City of Tustin, Comprehensive Annual Financial Report for the Year Ended June 30, 2015 Continued:
• City's assets encompassing all
governmental and business type activities
and deferred out flows of resources
exceeded its liabilities by $706 million.
• Net position consists of $480.9 million
net investment in capital assets; $72.9
million in restricted net position and
$152.6 million in unrestricted net
position.
City of Tustin, Comprehensive Annual Financial Report for the Year Ended June 30, 2015 Continued:
2015 Highlights
• $32.1 million contribution from Successor
Agency for bond proceeds
•
$48.1 million gain on land sold at former
Marine Corps Air Station (Legacy)
City of Tustin, Comprehensive Annual Financial Report for the Year Ended June 30, 2015 Continued:
General Fund:
General fund revenues exceeded
expenditures, transfers and special item
by $74.2 million.
Special item of $21.4 million due to DOF
decision to allow City to pay note over 5
years.
Fund balance increased $74.2 million.
City of Tustin, Comprehensive Annual Financial Report for the Year Ended June 30, 2015 Continued:
• GASB 68 implementation — new pension
reporting
Net Pension Liability
(in millions)
2014 2015 Decrease
Safety 32.2 25.8 -6.4
Miscellaneous 20.0 14.1 -5.9
Tota 1 52.2 39.9 -12.3
City of Tustin, Comprehensive Annual Financial Report for the Year Ended June 30, 2015 Continued:
Staff recommends City Council:
• Receive and file 6/30/15 CAFR.
• Receive additional letters and reports.