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Home My WebLink About08 GASB 34 COMPLIANCE 06-02-03AGENDA REPORT Agenda Item Reviewed: City Manager Finance Director 8 MEETING DATE: JUNE 2, 2003 TO: FROM: SUBJECT: WILLIAM A. HUSTON, CITY MANAGER RONALD A. NAULT, FINANCE DIRECTOR GASB 34 COMPLIANCE VALUATION SERVICES FINAL REPORT SUMMARY: The governing body for governmental accounting is the Governmental Accounting Standards Board (GASB). Periodically the GASB will propose and enforce Financial, Accounting and Reporting rules which they call Statements. In 1999 they adopted Statement No. 34 which requires governmental agencies to book all assets, infrastructure as well as fixed assets on the City's balance sheet, and record depreciation as an annual expense. Historically, only governmental enterprise funds, such as our Water Utility, have followed this practice which is how private accounting reports assets under the accounting guidelines established by the Financial Accounting Standards Board (FASB). The report you are asked to adopt was prepared by the City's Consultants, Harris & Associates, after they reviewed City records and conducted a field inventory of Tustin's streets, bridges, parks and other infrastructure assets. In their summary of findings, the Consultants are reporting the total current net book value of all reportable assets of the City as inventoried and valued at $207,031,183. RECOMMENDATION: 1. Adopt the report entitled "Final Report, GASB 34 Compliance Valuation Services". 2. Adopt the recommended capitalization policy for capital and infrastructure assets at $100,000. 3. Adopt the capitalization policy for the City's fixed assets at $5,000 as recommended by the City's Audit Committee. 4. Adopt the useful life of infrastructure assets as recommended by the Consultants and detailed on Page 8 of the report. FISCAL IMPACT: None. DISCUSSION: In June of 1999 GASB released Statement No. 34 which requires states, local governments and other public agencies to annually report the net value of all capital assets, including infrastructure assets, on their balance sheets in order to comply with Generally Accepted Accounting Principles (GAAP). The Governmental Accounting Standards Board defined infrastructure assets as "long-lived" capital assets that are stationary in nature and normally can be preserved for a significantly greater number of years than most capital assets. Examples of infrastructure assets include roads, bridges, tunnels, drainage, water and sewer systems, dams and lighting systems. Prior to Statement No. 34 the City reported general fixed assets such as buildings, land, furniture and fixtures, and vehicles in a separate fund titled the general fixed assets account group. Governmental agencies recognized the capital expense in the year the asset was purchased or constructed. Now, consistent with private accounting we will expense the incremental use of the assets as annual depreciation. The financial reports of the City will look significantly different than they have in the past. The City selected the engineering firm of Harris & Associates to prepare this report based on their expertise and knowledge of the City and its records, their valuation approach, and their fee. They have reviewed the report with the City's Auditor and have made a presentation to the City's Audit Committee. The Audit Committee accepted the report and the recommendations contained therein in regard to capitalization thresholds for infrastructure and general fixed assets, and asset useful lives. Ronald A N Finance Director ATTACHMENT: Final Report, GASB 34 Compliance Valuation Services RAN:GASB34ComplianceValuationServicesStaffReport-doc ~NAL REPORT GASB 34 COMPL]:ANCE VALUATZON SERVICES For The C~ty Of Tust~n March !4, 2003 Harris & Associates Harris & Associates March 14, 2003 Program Managers Construction Managers Civil Engineers Mr. Tim Serlet, Director of Public Works Mr. Ron Nault, Finance Director City of Tusfin 300 Centennial Way Tustin, CA 92780 Subject: MAR 17 2003 TUSTIN PUBLIC WORKS DEPT., _ Rna[ Report - GASB 34 CompUance Valuation Services Dear Sirs, Transmitted herewith is the Final Report in conjunction with the GASB 34 Compliance Valuation Services. The information contained in this report presents the findings from our valuation of the City's infrastructure assets as they pertain to the requirements of GASB 34. The Final Report also contains the necessary support documentation and methodologies that were used to develop the historic costs and current net book values. We are confident that the approach and methodologies embodied in this report meet the rigors of GASB 34 and that of your independent auditor. It has been a real pleasure working with you and the City staff on this project. Should you have any questions, please call me at (949) 655-3900 ext. 334. Sincerely, Harris & Assodates Dennis A. Anderson Associate Project Manager CC' Jeffrey M. Cooper, P.E., Senior Vice President Ron Creagh, Program Manager Q:\tustin\GASB 34\RevisedFinalReport. doc 34 Executive Park, Suite 150 Irvine, £a[ifornia 92614-4705 949.655.3900 FAX 949.655.3995 irvine@harris-assoc.com Finat Report: GASB Statement 34 CompUance Vatuation Services March 14, 2003 Page i GASB 34 COMPLIANCE REPORT Infrastructure Compliance Valuation Services TABLE OF CONTENTS Page SUMMARY OF GASB 34 REQUIREMENTS AND DEADLINES ........................................................... 1 BACKGROUND ANDINTRODUCTION .................................................................................................. 2 PROJ-ECT UNDERSTANDING ................................................................................................................... 3 SCOPE OF SERVICES ................................................................................................................................. 4 DETERMINATIONS RELATWE TO GASB 34 REQUIREMENTS ......................................................... 7 Assets to be Reported ............................................................................................................................... 7 Reporting Method ..................................................................................................................................... 7 GASB 34 Reporting Level ....................................................................................................................... 7 Capitalization Policy ................................................................................................................................ 7 Useful Life of Infrastructure Assets ...................................................................................................... 7,8 Valuation Methodology ............................................................................................................................ 8 Valuation of Pre- 1980 Infrastructure Assets ............................................................................................ 8 Valuing Street Rights-Of-Way ................................................................................................................. 9 ENR Indexing and Units Costs ................................................................................................................. 9 SUMMARY OF FINDINGS ....................................................................................................................... 10 Roadway Network--Pavement Subsystem ............................................................................................ 11 Roadway Network--Sidewalks .............................................................................................................. 12 Roadway Network~urb and Gutter .................................................................................................... 13 Roadway NetworkmTraffic Signals ...................................................................................................... 14 Roadway Network--Street Lights/Flashing Beacons ............................................................................ 15 Roadway Network--Street Lights/Flashing Beacons ............................................................................ 16 Storm Drain Network--Storm Drain Pipeline & Structures .................................................................. 17 Parks and Recreation Network--Major Park Facilities .......................................................................... 18 Water Network--Water Mains ................................................................................................................ 19 Water Network--Water Wells ................................................................................................................ 20 Water Network--Treatment Plants ......................................................................................................... 21 Water Network--Pump Stations / Reservoirs ......................................................................................... 22 Water Network--Land ............................................................................................................................ 23 Buildings Network .................................................................................................................................. 24 Land Network-- (Excluding Land in the Water Network) .................................................................... 25 PROCEDURES FOR CAPTURING FUTURE GASB 34 INFORMATION ............................................ 26 APPENDIX (Exhibits "A" thru "S") Q:\tustin\GASB 34\RevisedFinalRepo~doc Finat Report: GASB Statement 34 Compliance Vatuation Services March 14, 2003 Page I SUMMARY OF GASB 34 REQUIREMENTS AND DEADLINES By release of Statement 34 on June 30, 1999, the Governmental Accounting Standards Board, a national non-profit organization, now requires that states, local governments and other public agencies annually report (full disclosure) the net value of all capital assets, including infrastructure assets, in order to achieve GAAP (generally accepted accounting principles). GASB 34 defines infrastructure assets as "... long-lived capital assets that are stationary in nature and normally can be preserved for a significantly greater number of years than most capital assets. Examples of infrastructure assets include roads, bridges, tunnels, drainage systems, water and sewer systems, dams and lighting systems..." In addition, land is to be valued. Fixed assets (generally building contents, vehicles, furnishings and the like) are not affected by GASB 34, but must be reported under other GAAP requirements. · Basic Approach: Up-to-date inventories must be accomplished/maintained Original acquisition costs or estimated costs must be applied · Depreciation must be applied to historical values · Modified Approach: · Up to date inventories must be accomplished/maintained · Original acquisition costs or estimated costs must be applied · Asset management systems must be put in place and include condition level assessment and setting every three years with costs budgeted to match condition level policies. GASB 34 requires compliance by certain dates based upon annual revenues of public agencies. The City of Tustin is what is called a Phase II agency, which had annual revenue of between $10 million and $100 million on July 1, 1999. This requires that the City begin reporting assets for the fiscal year ending June 30, 2003. A four-year "grace/transition period" is allowed for reporting "major general infrastructure assets" under certain conditions. Q:\tustin\GASB 34\RevisedFinalReport.doc Finat Report: GASB Statement 34 Comptiance Vatuation Services March 14, 2003 Page 2 BACKGROUND AND INTRODUCTION Harris & Associates was retained by the City of Tustin to prepare a comprehensive Infrastructure Valuation for the purpose of reporting the current Net Book Value of Infrastructure Assets (assets) in compliance with GASB 34. Infrastructure Survey and Valuation Using source file information and inventories as well as information obtained from City staff, the work involved the review or completion of certain inventories, determination of historical costs and acquisition dates (estimated and actual) for assets. In addition, useful life determinations were made so that depreciation can be calculated (using the Basic Approach prescribed in GASB 34) to arrive at current Net Book Value (also expressed as residual value). The minimum requirement for compliance with GASB Statement 34 is to provide infrastructure valuations for all assets constructed, acquired, or placed into service on or at~er July 1, 1980. Relevant assets were valued to one of two dates: 1 .) the original date of construction or acquisition, if available, or 2.) the incorporation date of the City (1927). Each asset was reviewed to determine the adequacy of the data to value the asset prior to July 1, 1980 (see the individual asset summaries for these determinations.) Additional effort was put forth to assemble and compile inventories in a fashion that will assist the City in transitioning to asset management systems. To the extent that information/data was available on asset Networks and Subsystems, we believe the City now has sufficient inventories developed through this project which should assist in this transition. We would like to express our appreciation to the City staff and the City's auditor for their great cooperation. Their helpfulness has made this project run smoothly and productively. Q:\tustin\GASB 34\RevisedRnalReport. doc final Report: GASB Statement 34 CompUance Vatuation Services March 14, 2003 Page 3 PROJECT UNDERSTANDING City Guidance and Direction The City has made decisions and provided directions with respect to approach and methodology for GASB 34 infrastructure valuation and reporting, which include the following: · All infrastructure assets will be capitalized and depreciated, rather than using the "modified approach." · Straight line depreciation will be used to arrive at Net Book Value. · All significant costs associated with infrastructure assets are to be capitalized, including Engineering Design, Construction Management, or other soft costs. · All such assets are to be capitalized from date of acquisition or estimated date of acquisition. · Reasonable estimation techniques to arrive at estimated acquisition dates historical costs (using standard industry price indexes) for such assets are acceptable. Networks and Subsystems The following are the Networks and Subsystems of Infrastructure Assets to be included in the valuation work: Network Roadways Storm Drain Park Improvements Water System Buildings Land Subsystem Pavement Sidewalk Curb & Gutter Traffic Signals Street Lights (City Owned) Bridges Pipelines Structures Facilities Water Mains Water Wells Treatment Plants Pump Station Reservoir Land N/A N/A Q:\tustin\GASB 34\RevisedFinalReport. doc final Report: GASB Statement 34 Comptiance Vatuation Services March 14, 2003 Page 4 Scope of Services - Records Search/Valuation Project Approach The following represents Harris & Associates' approach to the GASB 34 Infrastructure Valuation work to achieve GASB 34 compliance. In essence, it serves as our "Scope of Services" for the project. Essential Tasks There are several essential tasks that will be common to the optional approaches provided below. These tasks are: · Determine adequacy of existing inventories and existing City records · Compile inventories of Infrastructure Assets, by year of acquisition or construction. · Determine reporting level for asset type: Network or subsystem · Determine actual acquisition (or placed in service) date or estimate the acquisition date. · Determine useful life of assets by asset type · Establish unit cost(s) of assets or component parts to establish replacement cost, and utilize composite cost methodology. · Find actual historical cost or apply the ENR Construction Cost Index unit cost (replacement) to arrive at estimated historical cost. · Utilize straight-line depreciation to arrive at Net Book Value of assets. The formula is as follows: Straight-Line Depreciation Formula Step 1: Estimated Historical Cost / Estimated Useful Life = Annual Depreciation Step 2: Annual Depreciation x Current Age = Accumulated Depreciation Step 3: Estimated Historical Cost - Accumulated Depreciation = Current Net Book Value This will provide the City with a review of City records, such that existing data will be relied upon to establish inventories, acquisition dates and historical costs of all assets, if available. Task No. 1: Review Completeness and Adequacy of City Records. This involved a preliminary review of City records, including existing inventories, bond records, subdivision and parcel maps, GIS, Capital Improvement Programs and civil improvement plans to determine the extent to which sufficient records exist which contain actual acquisition dates and historical Q:\tustin\GASB 34\RevisedFinalReport. doc F~na[ Report: GASB Statement 34 Compliance Valuation Services March 14, 2003 Page 5 costs on assets. This was necessary to determine their reliability for use and the extent to which estimates of acquisition dates and historical cost needed to be used. This also assisted in determining whether information should be collected and/or estimated on the Network or Subsystem level and for which assets. Assets acquired or placed in service prior to July 1, 1980, were reported where applicable. Task No. 2: Inventory and Valuation. Step 1. Examine Inventories and City Records: A. Use of Ex/sting Inventories/Records: This methodology was used for all assets. The examination included review of GIS, asset management systems, master plans, bond records, engineering information and other documents. These materials assisted in determining the date of acquisition (construction or placed into service), and the data collected served as the baSis for developing historical cost. B. Where historical data required substantial research to complete, we used estimating techniques to arrive at estimates of volume, type and quantities of like assets as well as estimates of asset value using composite costing. Step 2. Develop Historical Cost for Infrastructure Assets: The composite cost method was used to establish historical cost particularly where original cost could not be determined. In these situations, replacement value was determined on a unit cost basis. Unit costs were applied to appropriate asset in terms of total square footage, linear footage or appropriate unit measurement. The ENR Construction Cost Index was applied to arrive at estimated historical cost. Straight-line depreciation was applied to the useful life. This achieved historical cost as well as current Net Book Value, accumulated depreciation, annual depreciation and salvage (or residual value). Completion of this task resulted in sufficient information for all assets using the methodology specified therein. The following methodology/approach is noted for certain assets: A. Information available contained in the Automated Mapping and PMS system was used to value pavements. B. Width/length assumptions were made to supplement existing Automated Mapping inventory data for curbs, gutters and sidewalks and trails. C. Estimates of unit costs for the various assets were applied based upon asset type using the appropriate unit measurement (such as square footage, linear footage, etc.). D. Signage and signal inventories/records were reviewed and estimates of value using composite cost estimates were used to determine value, and whether the cumulative value is at the 5% Subsystem level to warrant reporting at this time. E. Net book value was determined by a formula utilizing date of acquisition, historical cost, useful life and a depreciation methodology (in this case, straight line depreciation). Step 3. Establish Asset Modules via Microsoft Applications for all Networks/Subsystems: These modules provide the following information: asset description, historical cost, acquisition date, useful life, annual depreciation, accumulated depreciation and calculations of salvage/residual (Net Book Value) value, and asset locations and quantities wherever possible. This information is available in electronic form and is documented in spreadsheets that appear in the Appendices in this Final Report. Detailed information was compiled and then summarized in a format that can assist in managing Infrastructure Assets. Q:\tustin\GASB 34\RevisedFinalReporLdoc Final Report: GASB Statement 34 CompUance Valuation Services March 14, 2003 Page 6 Step 4. Prepare Summary of Findings: This was viewed as the "Draft Final Report" document that was reviewed with City staff. This report contained, and was formatted in the following manner: A. General Summary: Consisting of a Listing of the Asset categories by Network or Subsystem, with totals of Net Book Value (historical cost less depreciation) for each. B. Separate Sections for each Asset: Each Section included the following: · Asset name, with designated reporting category of Network or Subsystem · Summary inventory of Asset, identifying major components · Listing of resources (City records) used to assemble/compile inventory. · Methodology used to determine acquisition dates. · Useful life of each Asset · Methodology used to determine historical cost (composite cost). · Formula/methodology for applying depreciation (straight-line) to determine Net Book Value. · Appendices/Spreadsheets documenting Asset components, with historical cost, cost index, useful life, depreciation calculations (accumulated and annual depreciation), and Net Book Value results. Step 5. Review Results with Appropriate City Staff: We met with designated City staff to review and clarify aspects of the "Draft Final Report." Step 6. Final Report: The Final Report contains all necessary historical cost, useful life and depreciation method information for all identified Assets in the format described in Step 4B (above). All support documentation is provided electronically and by hard copy. This will allow for prompt and efficient implementation in the City's accounting records and for production of GASB 34 compliant financial statements. Q:\tustin\GASB 34\RevisedFinalReporLdoc Fina[ Report: GASB Statement 34 Comptiance Vatuation Services March ~4, 2003 Page 7 DETERMINATIONS RELATIVE TO GASB 34 REQUIREMENTS Recommendations were provided and determinations were made by the City relative to certain GASB 34 requirements and options. They are as follows: Assets to be Reported Those Infrastructure Assets are listed on Page 3 of this report. Hiking and equestrian trails have been eliminated as a land asset since these are easements, which are not technically owned by the City. Reporting Method The Basic Approach. This involves establishing the acquisition date, historical cost, useful life and applying a depreciation method to arrive at Net Book Value. The straight line depreciation method is being used for all Infrastructure Assets. GASB 34 Reporting Level GASB 34 allows public agencies to report the Net Current Value of assets at the Network, Subsystem or Individual level. The City has determined that it wishes infrastructure assets to be reported at the Subsystem level. As defined by GASB, a Network is composed of subsystems and component parts of infrastructure. In the immediate case, historical data has been collected, and in many cases estimated, for Infrastructure Assets at the Subsystem Level. As a result, reporting can be made at either the Subsystem or Network level. Capitalization Policy GASB 34 requires public agencies to establish and disclose the "capitalization policy" for capital and infrastructure assets. It sets forth the dollar value above which such assets acquisitions are added to the capital asset accounts, and below which such assets acquisitions are not required to be reported. The recommended dollar value is $100,000. It recognizes the significantly higher value of infrastructure as opposed to "fixed assets". This seemingly high value threshold does not mean that individual assets below this level have not been, and will not be, counted. As reflected in the attached inventory and valuation information, individual and subsystem components have and will continue to be counted below the $100,000 threshold value. For "fixed assets", typically building contents, the City's Audit Committee has recommended a $5,000 threshold, for which Hams & Associates concurs. Useful Life of Infrastructure Assets Use of the Basic Approach of valuing capital assets requires a determination of useful life of each type of asset in order to properly complete the formula for determining depreciation and arriving at Net Book Value. Based upon our finn's experience, utilization of industry standards, and consideration of conditions unique to the City, the following have been determined to be the useful life of the relevant h~frastructure Assets: Q:\tustin\GASB 34\RevisedFinalReport. doc Rna[ Report: GASB Statement 34 Comptiance Vatuation Services March 14, 2003 Page 8 Network Roadways Storm Drain Park Improvements Water System Buildings Land Subsystem Pavement Sidewalk Curb & Gutter Traffic Signals Street Lights (City Owned) Bridges Pipelines - Concrete PiPelines - Metal Structures Facilities Water Mains Water Wells Treatment Plants Pump Station Reservoir Land N/A N/A Useful Life 3O 100 100 25 100 100 100 30 100 25 50 50 20-25 40 40 NIA 50 Valuation Methodology In order to supplement data collection and expedite analysis wherever possible, and where information was not reasonably available in files or existing software programs, historical costs were achieved through estimates, and based upon inventory deficiencies, some acquisitions dates were also estimated. This methodology is permissible under GASB 34. Current replacement unit costs (Year 2002) were established for each applicable asset. These unit costs were developed from bid tabulations, industry standard costing documents and project team experience. Devaluation models were created to convert replacement costs to estimated original costs. These models are based on the appropriate Engineering News Record Cost Index (as shown in the Appendices). Depreciation models Were created to calculate depreciation on assets using the useful life(s) of assets. The "straight line" depreciation method was used on a half-year convention (calculated through June 30, 2002). The formula is presented on page 4 of this report. Valuation of Pre-1980 Infrastructure Assets GASB 34 allows governments to report the historical or estimated historical cost of Infrastructure Assets that were acquired, reconstructed or significantly improved in fiscal years ending after June 30, 1980 (FY 1980-81). The summaries and appendices reflect this information. Q:\tustin\GASB 34\RevisedFinalReport. doc Final Report: GASB Statement 34 CompUance Vatuation Services March 14, 2003 Page 9 Valuing Street Rights-Of-Way Experience with other agencies indicates that street rights-of-way are typically dedicated by developers as easements. Only a few cities accept street dedications in "fee simple." Our approach, based upon approval from independent auditors for these agencies, is not to value right-of-way easements. Technically, these streets are not owned by the agency, since they are easements for ingress and egress. Underlying ownership still resides with the abutting property owners who have reversionary rights in the event the right-of-way is vacated by the agency. Only the value of improvements to the right-of-way easements, such as pavement, sidewalk, curb and gutter, street trees, etc., should be reported. Fee simple dedications legally transfer all ownership to the agency and should be reported as assets per GASB 34. The main issue related to fee simple dedications is: Does the agency have records sufficient to obtain acquisition/historical cost information, or can it be reasonably estimated? In discussions with engineering staff, it was discovered that the City of Tusfin just recently began excepting public right-of- way dedications in fee simple title. This may require a determination and sign-off from your auditor that this small amount of asset quantity and potential value may not be "material" to the total of other assets of like type. Examples of cities not reporting the value of right-of-way easements: Cities of Lake Elsinore, Palo Alto, Piedmont, Carson. San Luis Obispo, Rancho Palos Verdes and Yorba Linda. In short, we recommend not reporting the value of right-of-way easements, but reporting the value of fee simple right-of-way if sufficient relevant data is available (or can be estimated) and if it is determined to be material. ENR Indexing and Unit Costs Exhibit "A" provides a spreadsheet reflecting the ENR (Engineering News Record) Construction Cost Index data which has been used in a number of situations to determine historical value of the assets. In a number of cases, where actual historical cost was not available, replacement value unit costs were applied, and the unit cost was indexed back to the appropriate year of actual/estimated construction. Q:\tustin\GASB 34\RevisedFinalReport. doc Rnat Report: GASB Statement 34 Compliance Valuation Services March 14, 2003 Page 10 SUMMARY OF FINDINGS The following will present summary information on the valuation of each Subsystem of Infrastructure Asset for the purpose of reporting in financial statements in accordance with GASB 34 and for use in the City's accotmting records. Shown below, and on Exhibit "B", is an overall summary of the current Net Book Value of the infrastructure assets by Subsystem, Network and grand total. Total current Net Book Value of all assets inventoried and valued in this project is: $207,031,183. Network Subsytem Roadway Network *Current *Original Current Replacement Estimated Net Value Cost Cost (thru 6~30~2002) Pavement $117,068,011 $96,611,978 $71,389,005 Sidewalk $3,266,429 $2,825,528 $2,657,665 Curb & Gutter $13,718,758 $10,972,138 $10,004,413 Traffic Signals $19,400,000 $14,552,949 $8,352,275 Street Lights $220,000 $180,438 $166,418 Bridges $31,882,145 $28,237,623 $26,980,991 Storm Drain Network Structures $3,150,000 $1,952,573 $1,620,871 Pipes $33,217,410 $26,107,941 $23,677,123 Parks/Facilities (excluding Land) $9,767,825 $8,477,243 $7,277,373 Water Network Water Mains $21,572,852 $15,412,883 $12,032,979 Water Wells $3,298,042 $2,769,919 $2,427,452 Treatment Plants $8,957,262 $8,151,232 $6,613,434 Pump Stations/Reservoirs $8,031,812 $7,312,507 $6,917,456 Land Not applicable $1,300,805 $1,300,805 Buildings Network $19,711,947 $14,972,872 $12,192,722 Land Network Not applicable $13,420,202 $13,420,202 Totals $293,262,492 $253,258,830 $207,031,183 *These costs and values include Engineering Design, Construction Management, or other Soft Costs. Q:\tustin\GASB 34\RevisedRnalReport. doc Fina[ Report: GASB Statement 34 Comptiance Vatuation Services March 14, 2003 Page ! 1 ROADWAY NETWORK Subsystem: Pavement Reporting Level Subsystem, for pavement only Useful Life of Asset 30 years for asphalt concrete and 50 years for Portland Concrete Cement based upon industry standards. InventoryNaluation Data Sources The City's Pavement System was created and updated by IMS Consultants. However, this electronic data was unavailable. The City's Automated Mapping System Data was used to develop the pavement values. Replacement unit costs were estimated by the Hams and discussed with City staff. The PMS system utilizes dates as early as 1980. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Current replacement costs were determined to be $4.50 per square foot. Historical costs were determined by using the City's existing pavement management system (last updated 2001) and ENR Construction Cost Index to establish the historical unit cost by year of construction/improvement. Also, when Capital replacement has occurred, the quantity of pavement replaced has been deducted from the oldest year. The useful life of 30 years is standard, and was verified by Hams PMS and Design Group specialists. The total pavement area valued was 25 million square feet. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of pavement. The Net Book Value is $71,389,005. In addition, and based upon the methodologies described above, you will find information in Exhibit "C" about asset quantity, historic values, annual depreciation and accumulated depreciation. This information will be helpful as the base data for the City's following CAFR for FY2003-2004. Data and calculations provided in this Exhibit, and the others that follow for each asset subsystem, are the Asset Modules referred to in the Scope of Services. Current Original Accumulated Current Total Area Replacement Estimated Annual Depreciation Net Valued (SF) Cost Cost Depreciation (thru 6~30~2002) Value 25,043,047 $117,068,011 $96,611,978 $3,220,399 $25,222,973 $71,389,005 Valuations of Pre-1980 Infrastructure Assets: Pavements were valued back to 1980. Q:\tustin\GASB 34\RevisedFinalReport. doc Rna[ Report: GASB Statement 3/, Comptiance Vatuation Services March 14, 2003 Page 12 ROADWAY NETWORK Subsystem: Sidewalks Reporting Level Subsystem, for sidewalks Useful Life of Asset 100 years for Portland Concrete Sidewalks. Inventory/Valuation Data Sources City of Tustin provided the basic source of information from their Automated Mapping System for determining the quantities and locations of sidewalks. Construction dates were determined by construction and tract map drawings available at City Hall. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Current replacement costs were determined to be $4.25 per square foot of sidewalk. This unit cost was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction. Also, when Capital replacement has occurred, the quantity of sidewalk replaced has been deducted from the oldest year. A 100 useful life was implemented for PCC sidewalks. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value is $2,657,665. In addition, and based upon the methodologies described above, you will find information in Exhibit "D" about asset quantity, historic values, annual depreciation and accumulated depreciation. This information will be helpful as the base data for the City's following CAFR for FY2003-2004. Current Original Accumulated Current Total Area Replacement Estimated Annual DepreCiation Net Valued (SF) Cost Cost Depreciation (thru 613012002) Value 768,572 $3,266,429 $2,825,528 $28,255 $167,863 $2,657,665 Valuations of Pre-1980 Infrastructure Assets: Sidewalks were valued back to 1980. Q:\tustin\GASB 34\RevisedFinalReport. doc Final Report: GASB Statement 34 Comptiance Vatuation Services March 14, 2003 Page 13 ROADWAY NETWORK Subsystem: Curb and Gutter Reporting Level Subsystem, for curb and gutter Useful Life of Asset 100 years for Portland Concrete Curb and Gutter. Inventory/Valuation Data Sources City of Tustila provided the basic source of information from their Automated Mapping System for determining the quantities and locations of curb and gutter. Construction dates were determined by construction and tract map drawings available at City Hall. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Current replacement costs were determined to be $25.00 per linear foot of curb and gutter. This unit cost was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction. Also, when Capital replacement has occurred, the quantity of curb and gutter replaced has been deducted from the oldest year. A useful life of 100 years was implemented for curb and gutter. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value is $10,004,413. In addition, and based upon the methodologies described above, you will find information in Exhibit "E" about asset quantity, historic values, annual depreciation and accumulated depreciation. This information will be helpful as the base data for the City's following CAFR for FY2003-2004. Current Orig in al Accu mu lated C u rrent Total Area Replacement Estimated Annual Depreciation Net Valued (LF) Cost Cost Depreciation (thru 6~30~2002) Value 548,750 $13,718,758 $10,972,138 $109,721 $967,724 $10,004,413 Valuations of Pre-1980 Infrastructure Assets: Curb and gutter were valued back to 1980. Q:\tusfin\GASB 34\RevisedFinalReport. doc Rna[ Report: GASB Statement 34 Compliance Vatuation Services March 14, 2003 ., Page 18 PARKS AND RECREATION NETWORK Subsystem: Maior Park Facilities Reporting Level Subsystem, for maj or park facilities. Useful Life of Asset 50 years for buildings, 25 years for equipment, courts, etc. Inventory/Valuation Data Sources The City's Engineering Department provided the information for determining the quantities, locations and costs of maj or park facilities. In addition, City staff and Hams staff were consulted to ascertain information related to estimated replacement costs for park improvements and structures. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: The major park facilities are listed in Exhibit "J." These facilities (exclusive of Land) include playground equipment, landscaping/tree materials, tennis courts, other play courts, parking lots, restroom facilities and the like. The useful life of 25 years was established for major park facilities by averaging the estimated useful life of these various components. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value is $7,277,373. In addition, and based upon the methodologies described above, you will find information in Exhibit "J" about asset quantity and replacement values. This information will be helpful as the base data for the City's following CAFR for FY 2002-2003. Current Original Accumulated Current Replacement Estimated Annual Depreciation Net Cost Cost Depreciation (thru 6~30~2002) Value $9,767,825 $8,477,243 $185,176' $1,199,870 $7,277,373 Valuations of Pre-1980 Infrastructure Assets: Park improvements information was available pre-1980, as early as 1970, therefore the all improvements were valued. Q:\tustin\GASB 34\RevisedFinalReport. doc Final Report: GASB Statement 34 Comptiance Valuation Services March 14, 2003 Page 19 WATER NETWORK Subsystems: Water Mains Reporting Level Subsystem, for water mains (pipelines).. Useful Life of Asset 50 years Inventory/Valuation Data Sources The City's Water System General Ledger information was used as the basic source of information for determining the inventory and valuation of City-owned water mains. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Annual constructions totals for water mains (pipelines) owned by the City are listed in Exhibit "K." The useful life of 50 years was established. Acquisition dates and costs were obtained from the General Ledger and then depreciation was calculated in order to achieve current Net Book Value. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset network. The Net Book Value is $12,032,979. In addition, and based upon the methodologies described above, you will find information in Exhibit "K" annual valuations. This information will be helpful as the base data for the City's following CAFR for FY 2002-2003. Current Original Accumulated Current Replacement Estimated Annual Depreciation Net Cost Cost Depreciation (thru 6130/2002) Value $21,572,852 $15,412,883 $308,258 $3,379,904 $12,032,979 Valuations of Pre-1980 Infrastructure Assets: The water system was acquired by the City in 1981. Q:\tustin\GASB 34\RevisedRnalRepo~doc final Report: GASB Statement 34 Compliance Valuation Services March 14, 2003 Page 20 WATER NETWORK Subsystems: Water Wells Reporting Level Subsystem, for water wells. Useful Life of Asset 50 years Inventory/Valuation Data Sources The City's Water System General Ledger information was used as the basic source of information for determining the inventory and valuation of City-owned water wells. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Water wells owned by the City are listed in Exhibit "L." The useful life of 50 years was established. Acquisition dates and costs were obtained from the General Ledger and then depreciation was calculated in order to achieve current Net Book Value. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset network. The Net Book Value is $2,427,452. In addition, and based upon the methodologies described above, you will find information in Exhibit "L" about water well identification. This information will be helpful as the base data for the City's following CAFR for FY 2002-2003. Current Original Accumulated Current Replacement Estimated Annual Depreciation Net Cost Cost Depreciation (thru 6~30~2002) Value $3,298,042 $2,769,919 $55,398 $342,468- $2,427,452 Valuations of Pre-1980 Infrastructure Assets: The water system was acquired by the City in 1981. Q:\tustin\GASB 34\RevisedFinalReport. doc Final Report: GASB Statement 34 Compliance Vatuation Services March 1C'2003 Page 21 WATER NETWORK Subsystems: Treatment Plants Reporting Level Subsystem, for treatment plants. Useful Life of Asset 20 years for the Main Street Desalter 25 years for the 17th Street Desalter Inventory/Valuation Data Sources The City's Water System General Ledger information was used as the basic source of information for determining the inventory and valuation of City-owned treatment plants. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Treatment plants owned by the City are listed in Exhibit "M." Acquisition dates and costs were obtained from the General Ledger and then depreciation was calculated in order to achieve current Net Book Value. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset network. The Net Book Value is $6,613,434. In addition, and based upon the methodologies described above, you will find information in Exhibit "M" about treatment plant construction dates and values. This information will be helpful as the base data for the City's following CAFR for FY 2002-2003. Current Original Accumulated Current Replacement Estimated Annual Depreciation Net Cost Cost Depreciation (thru 613012002) Value $8,957,262 $8,151,232 $339,966 $1,537,798 $6,613,434 Valuations of Pre-1980 Infrastructure Assets: The water system was acquired by the City in 1981. Q:\tustin\GASB 34\RevisedFinalReporLdoc Report: GASB Statement 34 Comptiance Vatuation Services March 14, 2003 Page 22 WATER NETWORK Subsystems: Pump Stations / Reservoirs Reporting Level Subsystem, for pump stations and reservoirs. Useful Life of Asset 40 years Inventory/Valuation Data Sources The City's Water System General Ledger information was used as the basic source of information for determining the inventory and valuation of City-owned pump stations and reservoirs. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Pump stations and reservoirs owned by the City are listed in Exhibit "N." Acquisition dates and costs were obtained from the General Ledger and then depreciation was calculated in order to achieve current Net Book Value. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset network. The Net Book Value is $6,917,456. In addition, and based upon the methodologies described above, you will find information in Exhibit "N" about pump stations and reservoirs construction dates and values. This information will be helpful as the base data for the City's following CAFR for FY 2002- 2003. Current Original Accumulated Current Replacement Estimated Annual Depreciation Net Cost Cost Depreciation (thru 6~30~2002) Value $8,031,812 $7,312,507 $146,250 $395,052 $6,917,456 Valuations of Pre-1980 Infrastructure Assets: The water system was acquired by the City in 1981. Q:\tustin\GASB 34\RevisedRnalReport. doc Rna[ Report: GASB Statement 34 Compliance Valuation Services March 14, 2003 Page 23 WATER SYSTEM NETWORK Subsystem: Land Reporting Level Subsystem, for land that is a part of the water system. Useful Life of Asset Not applicable. In accordance with GASB 34, Land is not depreciated. It is a permanent asset that has an inexhaustible useful life. Inventory/Valuation Data Sources The City's Water System General Ledger information was used as the basic source of information for determining the inventory and valuation of City-owned land that is part of the water system. No fair- market appraisals were performed. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Land owned by the City is listed in Exhibit "O." Actual historical value (as shown in the General Ledger) has been reflected without depreciation, in accordance with the provisions of GASB 34. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset network. Values for each individual property are provided. The Net Book Value is $1,300,805. In addition, you will find information in Exhibit "O" about asset quantity (acreage), location of property and name. This information will be helpful as the base data for the City's following CAFR for FY 2003- 2004. Current Original Accumulated Current Replacement Estimated Annual Depreciation Net Cost Cost Depreciation (thru 613012002) Value N/A $1,300,805 $0 $0 $1,300,805 Valuations of Pre-1980 Infrastructure Assets: Valuations are provided for land/property acquired in 1980 and after. The water system was acquired by the City in 1981. Q:\tustin\GASB 34\RevisedFinalReport. doc final Report: GASB Statement 34 Compliance Valuation Services March 14, 2003 Page 24 BUILDINGS NETWORK Subsystem: None Reporting Level Network. This asset category includes individual buildings, which comprise the Buildings Network. Useful Life of Asset 50 years Inventory/Valuation Data Sources The City's General Ledger information was used as the basic source of information for determining the inventory and valuation of City-owned buildings. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Buildings owned by the City are listed in Exhibit "P." These facilities (exclusive of Land) include City Hall, Park and Recreation facilities, utility buildings and sheds. The useful life of 50 years was established. Acquisition dates and costs were obtained from the General Ledger and then depreciation was calculated in order to achieve current Net Book Value. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset network. Values for each individual building are provided. The Net Book Value is $12,192,722. In addition, and based upon the methodologies described above, you will find information in Exhibit "P" about asset quantity and building identification. This information will be helpful as the base data for the City's following CAFR for FY 2002-2003. Current Original Accumulated Current Replacement Estimated Annual Depreciation Net Cost Cost Depreciation (thru 6~30~2002) Value $19,711,947 $14,972,872 $299,457 $2,780,151 $12,192,722 Valuations of Pre-1980 Infrastructure Assets: Valuations are provided for buildings constructed prior to July 1980. Q:\tustin\GASB 34\RevisedFinalReport.doc final Report: GASB Statement 34 Compliance Valuation Services March 14, 2003 Page 25 LAND NETWORK Subsystem: None Reporting Level Network. This asset category includes individual properties owned by the City, which comprise the Land Network. Useful Life of Asset Not applicable. In accordance with GASB 34, Land is not depreciated. It is a permanent asset that has an inexhaustible useful life. Inventory/Valuation Data Sources The City's General Ledger information was used as the basic source of information for determining the inventory and valuation of City-owned land. No fair-market appraisals were performed. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values: Land owned by the City is listed in Exhibit "Q." Actual historical value (as reflected in the General Ledger) has been reflected without depreciation, in accordance with the provisions of GASB 34. Net Book Value The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset network. Values for each individual property are provided. The Net Book Value is $13,420,202. In addition, you will find information in Exhibit "Q" about asset quantity (acreage), location of property and name. This information will be helpful as the base data for the City's following CAFR for FY 2003- 2004. Current Original Accumulated Current Replacement Estimated Annual Depreciation Net Cost Cost Depreciation (thru 6~30~2002) Value N/A $13,420,202 $0 $0 $13,420,202 Valuations of Pre-1980 Infrastructure Assets: Valuations are provided for land/property acquired prior to July 1980. Q:\tustin\GASB 34\RevisedFinalRepo~doc Final Report: GASB Statement 34 Compliance Vatuation Services March 14, 2003 Page 26 PROCEDURES FOR CAPTURING FUTURE GASB 34 INFORMATION Attachment "S "provides an essentially generic form and accompanying "administrative instruction," which should be helpful in capturing critical data for reporting of infrastructure assets in the future. This form is proposed to be used by the various City departments and divisions when assets are acquired, constructed or placed into service (and when assets are disposed of or removed/demolished). We have not included in the instructions which City staff members in the organization would complete the matrix, since that is a more intemal operational decision. The "instruction" includes when this information should be collected and returned to the Finance Department. Below are some suggestions on timing and other important considerations. · These forms should be completed throughout the fiscal year as asset acquisition and dispositions are completed, and not be left for completion at the end of the fiscal year. · Information should be collected for both City projects (CIP projects and the like) as well as developer-built and dedicated/donated infrastructure improvements, whether it is parks, streets, etc. If infrastructure improvements are disposed of, eliminated or removed, their value should be deducted from asset value. If such improvements have to be removed or eliminated as a fimction of constructing new improvements, the value of the portion removed should be deducted, and the value of the improvements constructed should be added to asset value. The most critical pieces of information are the quantities, acquisition dates and costs. Once these forms are completed and submitted to the Administrative Services Department, they should be compiled, categorized into the appropriate subsystems, and totaled. This information can then be entered in the appropriate Asset Module (spreadsheet) for the fiscal year. Once entered, the Asset Module will electronically perform the calculations to update the annual depreciation, accumulated depreciation and Net Book Value. Quantity information can be obtained from as-built drawings, and should be done upon receipt of as- builts. Cost data may be obtained through unit costs, developer information, final invoice data, Council-accepted project totals (in progress work is not counted; improvements must be complete) or other means. In using the Basic Approach (depreciation), there should be a distinction made between routine maintenance costs, which are not reported per GASB 34 vs. replacement, improvement and preservation costs, which should be reported per GASB 34. "Preservation" costs, as the GASB 34 Implementation Guide defines them, are those cost outlays that extend the useful life (assuming normal routine maintenance) of an asset beyond its original estimated useful life. Also, if the capacity or efficiency of an asset has been increased by a cost outlay (such as a road widening or weight capacity), the costs associated with such improvements should be reported. Where appropriate, certain ancillary project costs should also be captured for reporting purposes. These can include design, construction management, fees, transportation and administrative overhead charges. The City may wish to include all or part of this information in their "instruction" to staff members to assist them in completing the form. Hopefully, this will be helpful to the City. Certainly, the City can modify and/or fine-tune the system/form for maximum use and benefit. Q:\tustin\GASB 34\RevisedFinalReport. doc City of Tustin GASB 34 Valuations Exhibit "A" - ENR Construction Cost Index YEAR 1908 1909 1910 1911 1912 1913 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 t926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 Total Annual Annual ANNUAL Increasel Increase/ AVG COST Decrease Decrease 200t Equivalency Factor 97 0.00% 100.00% 91 -6.19% 93.81% 96 5.49% 105.49% 93 -3.13% 96.88% 91 -2.15% 97.85% 100 9.89% 109.89% 89 -11.00% 89.00% 93 4.49% 104.49% 130 39.78% '139.78% 181 39.23% 139.23% 189 4.42% 104.42% 198 4.76% 104.76% 251 26.77% 126.77% 202 -19.52% 80.48% 174 -13.86% 86.14% 214 22.99% 122.99% 215 0.47% 100.47% 207 -3.72% 96.28% 208 0.48% 100.48% 206 -0.96% 99.04% 207 0.49% 100.49% 207 0.00% 100.00% 203 -1.93% 98.07% 181 -10.84% 89.16% 157 -13,26% 86.74% 170 8.28% 108.28% 198 16.47% 116.47% 196 -1.01% 98.99% 206 5.10% 105.10% 235 14.08% 114.08% 236 0.43% 100.43% 236 0.00% 100.00% 242 2.54% 102.54% 258 6.61% 106.61% 276 6.98% 106.98% 290 5.07% 105.07% 299 3.10% 103.10% 308 3.01% 103.01% 346 12.34% 112.34% 413 19.36% 119.36% 461 11.62% 111.62% 477 3.47% 103.47% 510 6.92% 106.92% 543 6.47% 106.47% 569 4.79% 104.79% 600 5.45% 105.45% 628 4.67% 104.67% 660 5.10% 105.10% 692 4.85% 104.85% 724 4.62% 104.62% 759 4.83% 104.83% 6740.21% 7184.62% 6810.42% 7030.11% 7184.62% 6538.00% 7346.07% 7030.11% 5029.23% 3612.15% 3459.26% 3302.02% 2604.78% 3236.63% 3757.47% 3055.14% 3040.93% 3158.45% 3143.27% 3173.79% 3158.45% 3158.45% 3220.69% 3612.15% 4164.33% 3845.88% 3302.02% 3335.71% 3173.79% 2782.13% 2770.34% 2770.34% 2701.65% 2534.11% 2368.84% 2254.48% 2186.62% 2122.73% 1889.60% 1583.05% 1418.22% 1370.65% 1281.96% 1204.05% 1149.03% 1089.67% 1041.08% 990.61% 944.80% 903.04% 861.40% Page 1 of 2 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "A" - ENR Construction Cost Index YEAR 1959 1960 t961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 Total Annual Annual 2001 ANNUAL Increase/ Increase ! Equivalency AVG COST Decrease Decrease Factor 797 5.01% 105.01% 824 3.39% 103.39% 847 2.79% 102.79% 872 2.95% 102.95% 901 3.33% 103.33% 936 3.88% 103.88% 971 3.74% 103.74% 1019 4.94% 104.94% 1074 5.40% 105.40% 1155 7.54% 107.54% 1269 9.87% 109.87% 1381 8.83% 108.83% 1581 14.48% 114.48% 1753 10.88% 110.88% 1895 8.10% 108.10% 2020 6.60% 106.60% 2212 9.50% 109.50% 2401 8.54% 108.54% 2576 7.29% 107.29% 2776 7.76% 107.76% 3003 8.18% 108.18% 3237 7.79% 107.79% 3535 9.21% 109.21% 3825 8.20% 108.20% 4066 6.30% 106.30% 4146 1.97% 101.97% 4195 1.18% 101.18% 4295 2.38% 102.38% 4406 2.58% 102.58% 4519 2.56% 102.56% 4615 2.12% 102.12% 4732 2.54% 102.54% 4835 2.18% 102.18% 4985 3.10% 103.10% 5210 4.51% 104.51% 5408 3.80% 103.80% 5471 1.16% 101.16% 5620 2.72% 102.72% 5825 3.65% 103.65% 5920 1.63% 101.63% 6060 2.36% 102.36% 6222 2.67% 102.67% 6342 1.93% 101.93% 6538 3.09% 103.09% 820.33% 793.45% 771.90% 749.77% 725.64% 698.50% 673.33% 641.61% 608.75% 566.06% 515.21% 473.43% 413.54% 372.96% 345.01% 323.66% 295.57% 272.30% 253.80% 235.52% 217.72% 201.98% 184.95% 170.93% 160.80% 157.69% 155.85% 152.22% 148.39% 144.68% 141.67% 138.17% 135.22% 131.15% 125.49% 120.89% 119.50% 116.33% 112.24% 110..44% 107.89% 105.08% 103.09% Page 2 of 2 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "B" - Summary of Asset Values Network Subsytem Roadway Network *Current *Original Current Replacement Estimated Net Value Cost Cost (thru 6~30~2002) Exhibit Pavement $117,068,011 $96,611,978 $71,389,005 C Sidewalk $3,266,429 $2,825,528 $2,657,665 D Curb & Gutter $13,718,758 $10,972,138 $10,004,413 E Traffic Signals $19,400,000 $14,552,949 $8,352,275 F Street Lights $220,000 $180,438 $166,418 G Bridges $31,882,145 $28,237,623 $26,980,991 R Storm Drain Network Structures $3,150,000 $1,952,573 $1,620,871 H Pipes $33,217,410 $26,107,941 $23,677,123 I Parks/Facilities (excluding Land) $9,767,825 $8,477,243 $7,277,373 J Water Network Water Mains $21,572,852 $15,412,883 $12,032,979 K Water Wells $3,298,042 $2,769,919 $2,427,452 L Treatment Plants $8,957,262 $8,151,232 $6,613,434 M Pump Stations/Reservoirs $8,031,812 $7,312,507 $6,917,456 N Land Not applicable $1,300,805 $1,300,805 O Buildings Network $19,711,947 $14,972,872 $12,192,722 P Land Network Not applicable $13,420,202 $13,420,202 Q Totals $293,262,492 $253,258,830 $207,031,183 *These costs and values include Engineering Design, Construction Management, or other Soft Costs. Page I of I 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "C" - Pavement Fiscal New Replaced Current Original Accumulated Current Year Pavement Pavement Total Area Replacement Estimated Annual Depreciation Net Ending (SF) (SF) Valued (SF) Age Cost Cost Depreciation (thru 6~30~2002) Value 1980 684,207 1,103,332 - 22 $0 $0 $0 $0 $0 1981 425,250 794,200 - 21 $0 $0 $0 $0 $0 1982 229,518 589,420 - 20 $0 $0 $0 $0 $0 1983 1,372,275 1,268,655 - 19 $0 $0 $0 $0 $0 1984 455,022 723,906 - 18 $0 $0 $0 $0 $0 1985 715,356 631,433 - 17 $0 $0 $0 $0 $0 1986 1,335,456 1,187,144 - 16 $0 $0 $0 $0 $0 1987 1,238,742 1,414,156 o 15 $0 $0 $0 $0 $0 1988 1,067,634 697,756 - 14 $0 $0 $0 $0 $0 1989 1,835,604 709,520 2,545,124 13 $11,453,058 $8,334,258 $277,809 $3,472,607 $4,861,650 1990 1,598,472 399,119 1,997,591 12 $8,989,159 $6,707,143 $223,571 $2,571,071 $4,136,071 1991 1,076,094 1,263,964 2,340,058 11 $10,530,263 $8,028,038 $267,601 $2,809,813 $5,218,225 1992 2,584,782 2,629,068 5,213,850 10 $23,462,327 $18,442,084 $614,736 $5,839,993 $12,602,091 1993 1,439,046 2,703,951 4,142,997 9 $18,643,488 $15,315,764 $510,525 $4,339,466 $10,976,297 1994 1,005,903 1,695,551 2,701,454 8 $12,156,544 $10,366,224 $345,541 $2,591,556 $7,774,668 1995 416,061 1,072,863 1,488,924 7 $6,700,159 $5,779,970 $192,666 $1,252,327 $4,527,643 1996 244,080 1,505,390 1,749,470 6 $7,872,616 $6,976,364 $232,545 $1,279,000 $5,697,364 1997 204,678 869,965 1,074,643 5 $4,835,892 $4,441,670 $148,056 $666,250 $3,775,419 1998 136,350 136,350 272,700 4 $1,227,150 $1,145,495 $38,183 $133,641 $1,011,854 1999 311,957 311,957 3 $1,403,807 $1,341,386 $44,713 $111,782 $1,229,604 2000 704,277 704,277 2 $3,169,248 ~ $3,109,282 $103,643 $155,464 $2,953,817 2001 - - I $0 $0 $0 $0 $0 2002 500,000 500,000 0 $2,250,000 $2,250,000 $75,000 $0 $2,250,000 18,064,530 22,911,979 25,043,047 $112,693,711 $92,237,678 $3,074,589 $25,222,973 $67,014,705 Current Projects: 2002 Jamboree Road Rehabilitation 2002 Edinger Widening $874,300 $874,300 $29,143 $3,500,000 $3,500,000 $116,667 $4,374,300 $4,374,300 $145,810 $0 $874,3O0I $0, $3,500~,,.0.00j $0 $4,374,3OO Totals: 25,043,047 $117,068,011 $96,611,978 $3,220,399 $25,222,973 $71,389,005 Page 1 of 1 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "D" - Sidewalk Total Fiscal Area Current Original Accumulated Current Year New Replaced Valued Replacement Estimated Annual Depreciation Net Ending Area (SF) Area (SF) (SF) Cost Cost Depreciation (thru 613012002) Value 1980 12,464 0~ - t $0.00 $0.00 $0.00 $0.00 1981 12,446 19000 _r $0.00 $0.00 ,$0.00 $0.00 1982 5,093 19000 - $0.00 $0.00 $0.00 $0.00 1983 0 19000 - - $0.00 $0.00 $0.00 $0.00 1984 33,767 19000 - $0.00 $0.00 $0.00 $0.00 1985 49,282 19000 - $0.00 $0.00 $0.00 $0.00 1986 85,143 19000 - $0.00 $0.00 $0.00 $0.00 1987 48,168 19000 60,220 255,933.47 $177,805.56 $1,778.06 $25,781.81 $152,023.75 1988 6,203 19000 25,203 107,114.43 $76,324.52 $763.25 $10,303.81 $66,020.71 1989 74,761 19000 93,761 398,482.99 $289,971.46 $2,899.71 $36,246.43 $253,725.03 1990 14,244 19000! 33,244 141,285.12 $105,418.03 $1,054.18 $12,123.07 $93,294.96 1991 2,594 19000 21,594 91,775.39 $69,967.52 $699.68 $7,346.59 $62,620.93 1992 12,272 19000 31,272 132,906.60 $104,468.53 $1,044.69 $9,924.51 $94,544.02 1993 8,881 19000 27,881 118,493.07 $97,342.93 $973.43 $8,274.15 $89,068.78 , 1994 21,804 19000 40,804 173,415.00 $147,875.80 $1,478.76 $11,090.68 $136,785.11 1995 2,076 19000 21,076 89,571.76 $77,270.12 $772.70 $5,022.56 $72,247.56 1996 28,597 19000 47,597 202,286.11 $179,257.00 $1,792.57 $9,859.14 $169,397.87 1997 70,609 19000 89,609 380,836.96 $349,791.12 $3,497.91 $15,740.60 $334,050.52 1998 4,705 19000 23,705 100,745.53 $94,041.87 $940.42 $3,291.47 $90,750.40 1999 45,631 19000 64,631 274,680.99 $262,467.17 $2,624.67 $6,561.68 $255,905.49 2000 47,849 19000 66,849 284,107.41 $278,731.68 $2,787.32 $4,180.98 $274,550.70 2001 80,557 19000 99,557 423,117.25 $423,117.25 $4,231.17 $2,115.59 $421,001.66 2002 6,427 15144 21,571 91,677.18 $91,677.18 $916.77 $0.00 $91,677.18 673,572 414,144 768,572 $3,266,429 $2,825,528 $28,255 $t67,863 $2,657,665 Page 1 of 1 311412003 City of Tustin GASB 34 Valuations Exhibit "E" - Curb & Gutter Fiscal New Replaced Total Current Original Accumulated Current Year Length Length Length Replacement Estimated Annual Depreciation Net Ending (LF) (LF) (LF) Age Cost Cost Depreciation (thru 613012002) Value 1980 4,619 - 22 $0 $0 $0 $0 $0 1981 6,382 800 - 21 $0 $0 $0 $0 $0 1982 2,675 800 - 20 $0 $0 $0 $0 $0 1983 72 800 - 19 $0 $0 $0 $0 $0 - 1984 37,305 800 38,096 18 $952,406 $622,6231 $6,226 $108,959 $513,664 1985 22,430 800 23,230 17 $580,738 $384,137~ $3,841 $63,383 $320,754 1986 17,270 800 18,070 16 $451,742 $305,934: $3,059 $47,420 $258,514 1987. 27,105 800 27,905 15 $697,626 $484,664-' $4,847 $70,276 $414,388 1988 32,323 800 33,123 14 $828,085 $590,053 $5,901 $79,657 $510,396 1989 109,800 800 110,600 13 $2,765,009 $2,012,065 $20,121 $251,508 $1,760,557 1990 55,933 800 56,733 12 $1,418,324 $1,058,263 $10,583 $121,700 $936,563 1991 9,072 800 9,872 11 $246,803 $188,157 $1,882 $19,757 $168,401 1992 17,422 800 18,222 10 $455,558 $358,082 $3,581 $34,018 $324,064 1993 7,866 800 8,666 9 $216,651 $177,980 $1,780 $15,128 $162,852 1994 8,268 800 9,068 8 $226,692 $193,307~ $1,933 $14,498 $178,809 1995 5,146 800 5,946 7 $148,657 $128,240 $1,282 $8,336 $119,905 1996 21,871 800 22,671 6 $566,782 $502,257 $5,023 $27,624 $474,633 1997 34,560 800 35,360 5 $884,007 $811,943 $8,119 $36,537 $775,406 1998 31,267 800 32,067 4 $801,670 $748,326 $7,483 $26,191 $722,135 1999 57,937 800 58,737 3 $1,468,429 $1,403,135 $14,031 $35,078 $1,368,056 2000 13,171 800 13,971 2 $349,269 $342,661 $3,427 $5,140 $337,521 2001 19,308 800 20,108 1 $502,696 $502,696 $5,027 $2,513 $500,182 2002 5,349 956 6,305 0 $157,614 $157,614 $1,576 $0 $157,614 , 547,150 17,756 548,750 $13,718,758 $10,972,138 $109,721 $967,724 $10,004,413 Page 1 of 1 3/14/2003 og ~z~ o o o City of Tustin GASB 34 Valuations Exhibit "H-I" -Storm Drain Structures Fiscal Current Original Original Accumulated Current Year Total Current Replacement Unit Estimated Annual Depreciation Net Ending Quantity Age Cost Costs Cost Depreciation. (thru 613012002) Value i 1980 202 22 $1,010,000: $2,552 $~15,511 $5,155 $110,835 $404,676 1981 73 21 $365,000; $2,787 $203,449 $2,034 $41,707 $161,742 1982 1 20 $5,000 $3,016 $3,016 $30 $588 $2,428 1983 12 19 $60,000 $3,206; $38,467 $385 $7,116' $31,351 1984 93 18 $465,000 $3,269 $303,988 $3,040 $53,198 $250,790 1985 21 17 $105,000 $3,307 $69,454 $695 $11,460 $57,994 1986 135 16 $675,000 $3,386 $457,131 $4,571 $70,855 $386,276 _ 1987 3 15 $15,000 $3,474 $10,421 $104 $1,511 $8,91'0 1988 30 14 $150,000 $3,563 $106,883 $1,069 $14,429 $92,454 1989 19 13 $95,000 $3,638 $69,130 $691 $8,641 $60,489 1990 0 12 $0 $3,731 $0 $0 $0 $0 1991 0 11 $0 $3,812 $0 $0 $0 $0 1992 11 10 $55,000= $3,930 $43,232 $432 $4,107 $39,125 .. 1993 17 9 $85,000 $4,108 $69,828 $698 $5,935 $63,893 1994 0 8 $0 $4,264 $0 $0 $0' $0 1995 4 7 $20,000 $4,313 $17,253 $173 $1,121 $16,132 1996 0 6 $0 $4,431 $0 $0 $0 $0 1997 0 5 $0 $4,592 $0i $0 $0 $0 1998 0 4 $0 $4,667 $0 $0~ $0 $0 1999 Oi 3 $0 $4,778 $0 $0 $0 $0 2000 2' 2 $10,000 $4,905 $9,811 $98 $147 $9,664 2001 2 1 $10,000 $5,000 $10,000 $100 $50 $9,950 2002 5 0 , $25,000 $5,000 $25,000 $250 $0 $25,000 630 $3,150,000 $1,952,573 $19,526 $331,702 $1,620,871 Page 1 of 1 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "H-2" -Storm Drain Structure Quantities Fiscal Catch Transition Concrete Year Junction Structure Basin Inlet/Outlet Structure Collar Ending Quantity Quantity Quantity Quantity Quantity 1980 49 111 7 0 35 1981 20 24 10 0 19 ....... 1982 1 O, 0 0 0 -- 1983 6 0 4 0 2 1984 31 43 10 0 9 1985 8 1; 1 0 0 1986 40 86 4 O i 5 1987 0 2 1 0 0 1988 13~ 12 3 0 2 1989 6 6 4 0 3 1990 0 0 0 0 0 1991 0 0 0 0 0 1992 0 5' 0 0 6 1993 3 11 2 0 1 1994 0 0 0 0 O' 1995 2 1 I 0 0 1996 0 0 0 0 0 1997 O: 0 0 0 0 1998 Oi 0 0 0 0 1999 0 0 0 0 0 2000 1 1 0 0 0 2001 I 1 0 0 0 2002 2 1, 0 0 2 183 316 47 - 84 Page 1 of 1 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "1-1"- Storm Drain Pipelines Fiscal Current Current Original Accumulated Current Year Age Replacement Estimated Annual Depreciation Net Ending (Yearn) Cost Cost Depreciation (thru 613012002) Value ' 1980 22 $632,196 $322,677 $3,227 $69,376 $253,302 1981 21 $1,427,081 $795,448 $7,954 $163,067 $632,381 1982 20 $200,368 $120,846 $1,208 $23,565 $97,281 1983 19 $0 $0 $0 $0 $0 -- 1984 18: $1,542,737 $1,008,544 $10,085 $176,495 $832,049 1985 17 $766,180 $506,800 $5,068 $83,622 $423,178 1986 16~ $740,857 $501,731 $5,017 $77,768 $423,963 1987 15 $3,225,451 $2,240,829 $22,408 $324,920 $1,915,909 1988 14 $3,083,769 $2,197,343 $21,973 $296,641 $1,900,702 1989 13 $4,740,576 $3,449,662 $34,497 $431,208 $3,018,454 1990 12 $1,345,096 $1,003,626 $10,036 $115,417 $888,209 1991 11 $451,010 $343,840 $3,438 $36,103 $307,737 1992 10 $1,734,484 $1,363,356 $13,634 $129,519 $1,233,837 1993 9 $314,777 $258,591 $2,586 $21,980 $236,611 1994 8 $777,662 $663,134i $6,631 $49,735 $613,399 1995 7 $223,734 $193,007' $1,9301 $12,545 $180,461 1996 6 $3,168,288 $2,807,597 $28,0761 $154,418~ $2,653,179 1997 5 $2,228,104! $2,046,469 $20,465 $92,091 $1,954,378 1998 4 $2,629,784i $2,454,797 $24,548 $85,918 $2,368,879 1999 3 $3,363,653 $3,214,086 $32,141 $80,352 $3,133,734 2000 2 $319,603 $313,555 $3,136 $4,703 $308,852 2001 1 $274,707 $274,707 $2,747 $1,374 $273,333 2002 0 $27,295 $27,295 $273 $0 $27,295 $33,217,410 $26,107,941 $261,079 $2,430,818 $23,677,123 Page 1 of 1 3/14/2003 -- -- , .... .... o. ~ oo o~o~oo~o~ ~oo~oo~~o~ ~ ~ ..... ~~- ~ · .... ~ x~ -- O0 ~ -- o ooo°l~e~o o°~o~oe~~ooo oo ~o~o~o 000 O0 0000 O0 O0 0 · .. -- -- -- r,' 00000 O0 O0 ~lOOgggooooo~oogooggooggg m Ill o (~ City of Tustin GASB 34 Valuations Exhibit "J" - Parks Facilities (Excluding Land) Current Accumulated Current Const. Current Replacement Original Annual Depreciation Net Description Type Date Age Cost Cost Depreciation (thru 6130/2002) Value CENTENNIAL RESTROOM BUILDING Building 1970 32 $47,859 $9,761 $195 $6,149 $3,612 WALKS, CONC. APPROX. 54,900 Misc 1970 32 $288,311 $58,802 $2,352 $58,802 $0 LIGHTING SYSTEMS W/46 MTL Misc 1970 32 $65,883; $13,437 $537 $13,437 $0 SPRINKLER SYSTEM, AUTOMATIC Misc 1970 32 $129,853 $26,484 $1,059 $26,484 $0 SPRINKLER SYSTEM, AUTOMATIC Misc 1970 32 $40,102 $8,179 $327 $8,179 $0 BUILDING, PINETREE RESTROOM Building 1972 30 $39,866 $10,130 $203 $5,977 $4,153 SPRINKLER SYSTEM, AUTOMATIC Misc 1972 30 $61,539 $15,637 $625 $15,637 $0 WALK, CONC. APPROX. 21,800 Misc 1973 29 $100,585 $28,339 $1,134 $28,339 $0 LIGHTING SYSTEM CIO 16 LIGHT Misc 1973 29 $20,977 $5,910 $236 $5,910 $0 SPRINKLER SYSTEM, AUTOMATIC Misc 1973 29 $70,483 $19,858 $794 $19,858 $0 TENNIS COURTS, 3 PLACE, INC Misc 1974 28 $161,496 $49,186 $1,967 $49,186 $0 FENCING, WROUGHT IRON, APPROX Misc 1974 28 $32,118 $9,782 $391 $9,782 $0 BASKETBALL COURT, C/D CONC Misc 1974 28 $35,352 $10,767 $431 $10,767 $0 FRONTIER RESTROOM BUILDINGS Building 1974 28 $57,029 $17,369 $347 $9,553 $7,816 MAGNOLIA TREE RESTROOM BLDG Building 1974 28 $54,914 $16,725 $335 $9,199 $7,526 HANDBALL COURT, W/CONCRETE Misc 1974 28 $28,779 $8,765 $351 $8,765 $0 SPRINKLER SYSTEM, AUTOMATIC Misc 1974 28 $83,004 $25,280 $1,011 $25,280 $0 WALL, CONC APPOX. 9560 SF Misc 1974 28 $48,351 $14,726 $589 $14,726 $0 WALK, CONC APPR 8300 SF Misc 1974 28 $92,696 $28,232! $1,129 $28,232 $0 AUTO SPRINKLERS SYSTEM Misc 1974 28 $21,871 $6,661 $266 $6,661 $0 COLUMBUS TUSTIN RESTROOM BLDG Building 1975 27 $61,385 $19,929 $399 $10,562 $9,367 BUILDING, PEPPERTREE, RESTROOM Building 1977 25 $28,741 $11,091 $222 $5,435 $5,656 TENNIS COURT, 4 PLACE CONCR Misc 1979 23 $226,444 $101,030 $4,041 $90,927 $10,103 PARKING LOT, ASPHALT APPROX Misc 1979 23 $118,792 $53,000 $2,120 $47,700 $5,300 CHAIN LINK BASEBALL BACKSTOP Misc 1979 23 $17,931 $8,000 $320 $7,200 $800 CHAIN LINK BASEBALL BACKSTOP Misc 1979 23 ~ $15,241 $6,800 $272 $6,120i $680 SPRINKLER SYSTEM, AUTOMATIC Misc 1979 23 $28,669 $12,791 $512 $11,512! $1,279 ITEM OF CONCRETE WALKS APPR Misc 1979 23 $50,430 $22,500 $900 $20,250~ $2,250 LIGHTING SYSTEM, BASEBALL COURT Misc 1979 23 $374,454 $167,066 $6,683 $150,359 $16,707 LIGHTING SYSTEM WALKS Misc 1979 23 i $41,241 $18,400 $736 $16,560 $1,840 PEDESTAL DRINKING FOUNTAIN iMisc 1982 20 $11,335 $6,440 $258 $5,023 $i,417 PARK SIDEWALK & CURB Misc 1982 20 $12,155 $6,906 $276 $5,387 $1,519 CONC. BASKETBALL COURT Misc 1982 20 $14,364 $8,161 $326 $6,366 $1,795 COMMUNITY CTR. BLDG. Building 1993 9 $228,268 $182,886 $3,658 $31,091 $151,796 SOFTBALL FENCE - CENTENNIAL i Misc 1994 8 $37,923 $31,755 $1,270 $9,527 $22,229 GYMNASIUM Building 1996 6 $2,475,130 $2,176,380 $43,528 $239,402 $1,936,978 PARKING LOT - CAMINO PARK i Uisc 1996 6 $9,865 $8,674 $347 $1,908 $6,766 YOUTH CENTER BUILDING iBuilding 1997 5 $789,842 $713,422 $14,268 $64,208 $649,214 PINETREE PARK iBuilding 2000 2 $146,290i $142,481 $2,850 $4,274 $138,207 FRONTIER PARK RESTROOM Building 2000 2 $174,421 $169,880 $3,398 $5,096 $164,784 SPORTS COMPLEX , Building 2000 2 $3,373,5701 $3,285,734 $65,715 $98,572 $3,187,162 MAGNOLIA PARK RESTROOM !Building 2000 2 $19,051 $18,555 $371 $557 $17,998 SENIOR CENTER REMODEL Building 2000 2 $31,213 $30,400 $608 $912 $29,488 PEPPERTREE PARK IMPROVEMENT Building 2002 0 $0 $626,468 $12,529 $0 $626,468 MAGNOLIA PARK RESTROOM Building 2002 0 $0 $114,853 $2,297 $0 $114,853 FRONTIER PARK REMODEL Building 2002 0 $0 $112,652 $2,253 $0 $112,~-2 BALL FIELD IMPROVEMENT Building 2002 0 i $0~ $36,959 $739 $0 $36,959 $9,767,825 $8,477,243 $186,176 $1,199,870 $7,277,373 Page 1 of 1 3/14/2003 Exhibit "K" - Water Mains City of Tustin GASB 34 Valuations Current Accumulated Current Const. Current Replacement Annual Depreciation Net Date Age Cost Original Cost Depreciation (thru 613012002) Value 1981 21 $ 7,645,395.62 $ 3,977,522.60 $ 79,550.45 $ 1,630,784.27 $ 2,346,738.33 1983 19 $391,785 $240,851 $4,817 $89,115 $151,736 1984 18 $13,391 $8,751 $175 $3,063 $5,688 1985 17 $502,357 $334,743 $6,695 $110,465 $224,278 1986 16 $229,180 $154,518 $3,090 $47,901 $106,617 1987 15 $655,098 $452,209 $9,044 $131,141 $321,068 1988 14 $1,030,804 $729,946 $14,599 $197,085 $532,861 1989 13 $405,461 $294,484 $5,890 $73,621 $220,863 1990 12 $835,487 $619,700 $12,394 $142,531 $477,169 1991 11 $836,204 $635,956 $12,719 $133,551 $502,405 1992 10 $1,409,041 $1,094,940 $21,899 $208,039 $886,901 1993 9 $1,111,955 $890,887 $17,818 $151,451 $739,436 1995 7 $635,298 $552,185 $11,044 $71,784 $480,401 1996 6 $1,951,436 $1,715,896 $34,318 $188,749 $1,527,148 1997 5 $1,116,544 $1,008,515 $20,170 $90,766 $917,748 ,, 1998 4 $905,252 $847,492 $16,950 $59,324 $788,168 1999 3 $854,331 $812,864 $16,257 $40,643 $772,221 2000 2 $92,416 $90,010 $1,800 $2,700 $87,310 2001 I $719,125 $719,125 $14,383 $7,191 $711,934 2002 O, $232,290 $232,290 $4,646 $0 $232,29~" i $21,572,852 $15,412,883 $308,258 $3,379,904 $12,032,979 Page 1 of 1 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "L" - Water Wells Current Accumulated Current Const. Current Replacement Annual Depreciation Net Description Date Age Cost Original Cost Depreciation (thru 6/3012002) Value BENETA WAY WELL . 1981 21 $251672 $13,356 $267 $5,476 $7,880 BENETA WELL PUMP/VERT 125 H 1981 21 $16,152 $8,403 $168 $3,445 $4,958 BENETA SITE IMPROVEMENTS 1981 21 $10,662 $5,547 $111 $2,274 $3,273 NEWPORT WELL 1981 21 $25,000 $13,006 $260 $5,333 $7,674 LA VETA WELL 1981 21 $25,000 $13,006 $260 · $5,333 ' $7,674 PANKEY WELL 8" CASING 1981 21 $13,576 $7,063 $141 $2,896 $4,167 WALNUT LAND SITE WELL 1981 21 $67,335 $35,031 $701 $14,363 $20,668 WELL, MAIN STREET 1981 21 $13,161 $6,847 $137 $2,807 $4,040 WELL, MAIN STREET #2, 8" 1981 21 $13,092 $6,811 $136 $2,793 $4,018 WELL, MAIN STREET #3, 8" 1981 21 $29,042 $15,109 $302 $6,195 $8,914 LIVINGSTON WELL, 8" CASING 1981 21 $12,605 $6,558 $131 $2,689 $3,869 TUSTIN AVE WELL 1981 21 $15,335 $7,978 $160 $3,271 $4,707 WELL/YORBA, YARDBA 1981 21 $17,557 $9,134 $183 $3,745 $5,389 PROSPECT WELL, 8 1981 21 $12,765 $6,641 $133 $2,723 $3,918 PUMP, #3 WELL, VERT, LINE 1981 21 $14,999 $7,803 $156 $3,199 $4,604 PUMP JACUZZI 25 H.P. 3" SIMON 1982 20 $10,580 $6,011 $120 $2,344 $3,667 COLUMBUS TUSTIN WELL 1985 17 $622,167 $414,578 $8,292 $136,811 $277,767 ADDT'L WORK TO MAKE COLUMBUS 1986 16 $33,560 $22,627 $453 $7,014 $15,613 PANKEY STTLEING BASIN 1988 14 $12,709 $9,000 $180 $2,430 $6,570 VANDERBERG WELL 1996 6 $516,114 $453,819 $9,076 $49,920 $403,899 VANDERBERG WELL 1997 5 $830,338 $750,000 $15,000 $67,500 $682,500 VANDERBERG WELL SCADA 1999 3 $32,662 $31,077 $622 $1,554 $29,523 SCADA MONITORING 2000 2' $285,910 $278,466 $5,569 $8,354 $270,112 · WELL & WELLHEAD/235 E MAIN ST 20020 $642,048, $642,0481 $12,8411 $01 $642,048 $3,298,042 $2,769,919 $55,398 $342,468 $2,427,452 * Project expenditures as of June 30, 2002. Page I of I 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "M" - Treatment Plants Current Accumulated Const. Current Replacement Original Annual Depreciation Description Date Age Cost Cost Depreciation (thru 6130/2002) NITRATE PLANT, MAIN STREET ' 1993 9 ' $1,737,005 $1,391,6701 $69,584I BUILDING/PLANT, 17TH STREET 1998 4 $7,220,257 $6,759,5621 $270,382 $591,460 $946,339 $339,966 $1,537,798 Current Net Value $800,210 $5,813,223 $6,613,434 Page 1 of 1 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "N" - Pumps StationslReservoim Current Accumulated Current Const. Current Replacement Annual Depreciation Net Description Date Age Cost Original Cost Depreciation (thru 613012002) Value SIMON RESERVOIR 1 ,OO0,O00 1981 21 $65,305 $33,975 $680' $13,930 $20,045 SIMON BOOSTER STATION 1981 21 $48,119 $25,034 $501 $10,264 $14,770 RAWLINGS RESERVOIR 5,000,000 1981 21 $370,062 $192,525 $3,851 $78,935 $113,590 NEWPORT RESERVOIR/WATER 1981 21 $98,460 $51,224 $1,024 $21,002 $30,222 FOOTHILL RESEP, VOIPJWATER 1981 21 $213,330 $110,985 $2,220 $45,504 $65,481 LYTTLE RESERVOIR/WATER 1981 21 $313,268 $162,978 $3,260 $66,821 $96,157 RESERVOIR UPGRADE/RETROFIT 1996 6 $1,337,446 $1,176,015 $23,520 $129,362 $1,046,654 RAWLINGS BOOSTER STATION 2000 2 $1,000,524 $974,474 $19,489 $29,234 $94.5,240 *MAIN ST RESERVOIR & BOOSTER 0 PUMP STATION 2002 $4,585,297 $4,585,297 i $91,706 $0 $4,585,297 $8,031,812 $7,312,507 $146,250 $395,052 $6,917,456 * Project expenditures as of June 30, 2002. Page 1 of 1 3/1412003 City of Tustin GASB 34 Valuations Exhibit "O" - Water System Land Description LAND MAIN STREET 46,650 SF Const. Date 1980 $ Original Cost 197,206 LAND, TUSTIN AVE WELL 1980 $ 35,334 LAND, MAIN STREET 46,650 SF 1980 $ 8,456 LAND, SIMON RESERVOIR 1980 $ 38,052 LAND, RAWLINGS RESERVOIR 1980 $ 90 600 LAND NEWPORT RESERVOIR 1980 $ 32 012 LAND FOOTHILL RESERVOIR 1980 $ 61 910 BENETAWELL 1981 $ 30 000 LA VETA WELL 1981 $ 30 000 LIVINGSTON WELL 1981 $ 30 000 LYTTLE RESERVOIR 1981 $ 30 000 NEWPORTWELL 1981 $ 30 000 PANKEYWELL 1981 $ 30 000 PROSPECT WELL 1981 $ 30 000 SIMON BOOSTER STATION 1981 $ 30 000 VANDENBERG WELL 1981 $ 30 000 $ 30 000 $ 3O 000 $ 21898 $ 18,133 $ 317,693 $ 84511 $ 65.000 $ 1,300,805 WALNUT WELL 1981 YORBA STREET WELL 1981 BLOCK WALL & GATE 1989 DRAINLINE-COLUMBUS TUSTIN WELL 1992 PERFIT PROPERTY 1993 PASADENA WELL SITE 2000 RAWLINGS BOOSTER STATION 2000 Page 1 of 1 3/14/2003 City of Tustin GASB 34 Valuations Exhibit "P"- Buildings Current Accumulated Current Const. Current Replacement Original Annual Depreciation Net Description Date Age Cost Cost Depreciation (thru 6130/2002) Value , FIRE STATION BUILDINGS 1970 32 $190,200 $38,792 $776 $24,439 $14,353 TEN POUND SHELTER, 50 X 30 1974 28 $39,877 $12,145 $243 $6,680 $5,465 PI NETREE STORAGE BUILDING 1975 27 $17,188 $5,580 $112 $2,957 $2,623 WAREHOUSE BUILDING 1977 25 $425,985 $164,383 $3,288 $80,548 $83,835 MAINTENANCE OFFICE BUILDING 1977 25 $355,773 $137,289 $2,746 $67,272 $70,017 BUILDING, SHIPS, 1-STORY CL 1977 25 $333,112 $128,544 $2,571 $62,987 $65,557 VEHICLE MAINTENANCE BUILDING 1977 25 $456,:137 $176,018 $3,520 $86,249 $89,769 PARK SHELTER W/PLUMBING 1982 20 $26,222 $14,898 $298 $5,810 $9,088 CONSTRUCTION OF SENIOR CENTER 1989 , 13 $2,463,853 $1,789,481 $35,790 $447,370 $1,342,111 WAREHOUSE FENCING 1990 12 $6,962 $5,164 $103 $1,188 $3,976 P/D ENCLOSURE, EVIDENCE ROOM 1993 9 $19,804 $15,867' $317 $2,697 $13,170 PARKING STRUCTURE 1993 9 $624,072 $500,000 $10,000 $85,000 $415,000 POLICE BUILDING 1993 9 $6,186,603 $4,956,641 $99,133 $842,629 $4,114,012 CITY HALL BUILDING 1993 9 $6,720,847 $5,384,671 $107,693 $915,394 $4,469,277 FIRE STATION, EAST TUSTIN 1994 8 $1,102,797 $923,428 $18,469 $138,514 $784,914 WEIGHT ROOM, P/D 1995 7 $30,640 $26,632 $533 $3,462 $23,170 REMODELING COSTS 2000 2 $164,689 $160,401 $3,208 $4,812 $155,589 FINANCE REMODEL 2000' 2 $35,126 $34,211 $684 $1,026 $33,185 BUILDING IMPROVEMENT 2000 2 $10,267 $10,000 $200 $300 $9,700 BUILDING ACCESS CONTROL 2001 1 $83,831 $81,648 $1,633 $816 $80,832 BUILDING CANOPY 2002 0 $349,927 $340,816 $6,816 $0 $340,816 PORTOLA JAMBOREE SITE PLAN 2002 0 $34,615 $33,714 $674 $0 $33,714 TRAFFIC OFFICE REMODEL 2002 0 $23,868 $23,246 $465 $0 $23,246 CM CONFERENCE ROOM REMODEL 2002 0 $9,552 $9,303 $186 $0 $9,303 ,711,947 $14,972,872 $299,457 $2,780,15t $12,192,722 Page 1 of 1 3/14/2003 Exhibit "Q" - Land City of Tustin GASB 34 Valuations Description Const. Date NO. TUSTIN PARKETTS .5 ACRES 1966 CENTENNIAL PARK LAND 8 ACRES 1968 MCFADDEN-PASADENA PARKETTE APPROX 4 ACRES 1968 CORP YARD LAND 4.12 ACRES 1969' CIVIC CENTER LAND 5.76 ACRES 1970 $ PEPPERTREE PARK LAND 3.9 ACRES 1971 $ PINETREE PARK LAND 4.2 ACRES 1972 $ LAND, FRONTIER PARK, APPROX 1973 $ MAGNOLIA TREE PARK 1.65 ACRES 1973 $ COLUMBUS TUSTIN PARK 1.9 ACRES 1973 $ COLUMBUS TUSTIN PARK 3.3 ACRES 1973 MAGNOLIA TREE PARK 1975 LAND - SENIOR CENTER 1986 NEIGHBORHOOD PARK TRACT 3.02 ACRES 1990 COMMUNITY PARK TRACT 12870, 16.94 ACRES 1990 COMMUNITY PARK TRACT 12870, 20.06 ACRES 1990 NEIGHBORHOOD PARK TRACT 136, 3.0 ACRES 1990 COMMUNITY PARK TRACT 13627, 8.90 ACRES 1990 LAND, 14772 NEWPORT 1996 RAILWAY PARKING LOT 1997 14722 NEWPORT AVE. 1997 HERITAGE PARK 1999 CEDAR GROVE PARK 2000 Original Cost $. .5,028.00 $ 192 124.00 $ 6 O84.OO 110 500.00 277 185.00 225.000.00 150,000.00 221.350.00 76 359.00 52 000.00 150 700.00 92 394.00 778 460.00 251 762.00 $ $ $ $ $ 1,412,203.00 $ 1,672,302.00 $ 250,095.00 $ 741,949.00 $ 500,884.86 $ 1,713,153.00 $ 500,885.00 $ 2,392,872.00 $ 1,646,912.00 $ 13,420,202 Page 1 of 1 3/14/2003 "- 0 0 0 0 EXHIBIT "S" MEMORANDUM (City of Tustin) To: From: Re: Date: , Finance Director. Instructions for Capturing Acquisition and Cost Information for GASB 34 Introduction The Governmental Accounting Standards Board, is a nationally-recognized non-profit organization which prescribes standards for accounting practices and financial statements for states and local governments. In June,1999, this board adopted Statement 34 (GASB 34) which requires that these units of government disclose the Net Book Value of capital assets, including Infrastructure Assets. The values of these assets must be reported in annual financial statements. In our case, these statements are included in the City's Comprehensive Annual Financial Report (CAFR). GASB 34 Requirements and Maintenance Management GASB 34 requires that the value of assets be reported using the Basic Approach. This requires that we determine Net Book Value (current) by capturing the actual historical cost of assets (of particular concern are Infrastructure Assets) and the acquisition date (which may be date of construction completion or date placed into service) and then applying a straight line depreciation formula using an estimated useful life. GASB 34 allows agencies to use the "Modified Approach" where asset management systems are being employed; however the City of Tustin is utilizing the Basic Approach for all Infrastructure Assets. It is critical that accurate cost and acquisition information be collected and recorded for our Infrastructure Assets for the purpose of GASB 34 reporting and to keep our records system up to date for on-going maintenance management. Infrastructure Assets Cost and acquisition data is to be collected and reported for the following Assets: Network Roadways Storm Drain Park Improvements Water System Buildings Land Subsystem Pavement Sidewalk Curb & Gutter Traffic Signals Street Lights (City Owned) Bridges Pipelines Pipelines - Metal Structures Facilities Water Mains Water Wells Treatment Plants Pump Station Reservoir Land N/A N/A Instructions/Procedures for Capturing Future GASB 34 Information The attached form ("GASB Infrastructure Inventory Valuation Form") provides a format with which to supply the necessary information. The following includes important guidance on when/how to complete the form. · These forms should be completed for Asset information by fiscal year beginning with FY2002-2003, and every fiscal year thereafter until further advised. The forms should be completed throughout the fiscal year as asset acquisitions (such as new construction and replacement construction) occur, or when dispositions occur (an asset is sold, demolished or removed). This task should not be left until the end of the fiscal year Information should be collected on City-initiated projects (CIP Projects and the like) as well as developer-built and dedicated/donated infrastructure improvements, whether it is parks, streets, signals, etc. + Acquisition/improvement dates and costs are needed for physical improvements. These kinds of projects (replacement, improvement and preservation costs) should be distinguished from routine maintenance costs, which are not reported under GASB 34. "Preservation" costs are cost outlays that extend the useful life of an asset (assuming routine maintenance) beyond its original estimated useful life. Also, if the capacity or efficiency of an asset has been increased by a cost outlay (such as. a road widening, adding weight capacity or a resurfacing), the costs associated with such improvements should be reported. · Please remember that the value of projects in progress should be reported to the extent that they are complete. · The most critical pieces of information are quantities, acquisition/disposition dates and costs. Please complete these portions of the form in thorough fashion. Quantity information can be obtained from as-built drawings, bid documents and other related sources. This information should be collected and reported on the form as soon as as-builts are received. Cost data can be obtained through unit costs (if estimating), developer information, Council-accepted project totals, progress payments, final invoices or other means. It is important that we capture all relevant information and report it. Failure to comply with GASB 34 will result in the City receiving a "qualified" opinion from our independent auditor, and it may have a negative affect our credit/bond rating. Thank you for your cooperation. CITY OF TUSTIN GASB 34 INFRASTRUCTURE INVENTORY VALUATION FORM Department: Division: Prepared By: Phone/Extension: Date Prepared: Description of the Asset: Date [] Acquired [] Constructed [] Removed: Basis of Valuation: (Please check one) [] Actual Cost (should include design, construction mgmt, fees, transportation, etc.) [] Estimated Cost If Estimated Cost, describe the method used: Quantity: (Example: 35,000 SF of concrete sidewalk) Source Document / Information: Total Valuation Amount: I $