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Orange County LAFCO Comprehensive Quarterly Report
F Y 2 0 1 4 - 1 5
Q 2 : O c t o b e r –
D e c e m b e r 2 0 1 4
I N S I D E L O O K :
Proposed Changes of Organization – Page 1
Fostering Partnerships – Page 3
Meetings and Outreach Efforts – Page 5
FY 2014-15 Budget Overview – Page 7
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 1 | P a g e
I n t r o d u c t i o n
The February Comprehensive Quarterly Report (“CQ Report”) provides an overview of the projects and
meetings completed and underway in the months of October, November and December 2014 (FY 14-15
second quarter). An assessment of the agency’s current budget and investment portfolio performance
for the second quarter is also contained in this report.
P r o p o s e d C h a n g e s o f O r g a n i z a t i o n
During the second quarter, OC LAFCO participated in meetings and discussions on routine to complex
changes of organization involving island and special district annexations, activation of latent powers, and
extraterritorial provision of retail water. The following section provides an update on activities involving
boundary change applications and potential LAFCO proposals that occurred during the second quarter.
Via Vista Annexation to the Orange County Sanitation District
LAFCO and the Orange County Sanitation
District have worked collaboratively over
the years to process small annexations to
the Orange County Sanitation District
(OCSD) that allow individual or multiple
residential properties to transition from
septic systems to a local sewer system.
Failing or leaking septic tanks can
contaminate the groundwater and lead to
other health and public safety concerns.
During the second quarter, the Commission
approved the Via Vista Annexation allowing
a single property in the Anaheim Hills area
to convert from septic to sewer. As the regional wastewater collection and treatment agency,
properties much annex to OCSD to receive both local and regional wastewater services. The Annexation
will allow the property owner to coordinate with the City of Anaheim for connection to the City’s local
sewer system.
OCSD
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 2 | P a g e
Santa Ana/Colleen Island Annexation to the City of Costa Mesa
During the second quarter, the Commission approved the
annexation of the Santa Ana/Colleen Island Annexation
to the City of Costa Mesa. The action has been recorded
with the Clerk Recorder’s office and is now effective.
LAFCO staff is coordinating with City staff to submit the
final paperwork to the State. The annexation represents
an ongoing effort by the Commission to work proactively
with the County, cities, and special districts (where
applicable) to annex unincorporated islands to cities and
improve service delivery efficiencies in unincorporated
areas. For many years, LAFCO has worked with the
County and the City of Costa Mesa on long-term
governance options for the unincorporated areas within
the City’s sphere of influence. The City’s long-term
commitment to the process, most recently demonstrated by participation in the Islands Task Force, has
led to the successful annexation of several islands since 2002. Annexation of the Santa Ana Island leaves
21 small islands (less than 150 acres) in Orange County.
East Orange County Water District Reorganization & Focused MSR
The Commission has received regular status updates from staff on the proposed “East Orange County
Water District Reorganization for Local Sewer Service” (RO 14-01) and the focused MSR that is being
conducted as part of the LAFCO review process. During the second quarter, LAFCO staff continued to
work with the applicant (EOCWD) and stakeholders (City of Orange, Irvine Ranch Water District, and
Orange County Sanitation District) on data and information necessary to prepare and complete the MSR.
The data collection phase of the MSR process is critical as it lays the foundation for the future analysis
that will be presented in the final written report for Commission consideration mid-spring. LAFCO staff
is expecting additional data from the stakeholders and is continuing to work with representatives from
each agency to field questions about the data request and process. While the data collection phase is
ongoing, staff has begun preparation of the draft MSR report, which is expected to be distributed to
stakeholders for internal review in March. A revised MSR schedule and additional details are provided
in a separate staff report for the February agenda.
Transfer of Retail Water System and Potential Annexation of La Habra Islands
The Commission has received regular status updates on an anticipated application from the City of La
Habra for approval of an out-of-agency service agreement between the City and California Domestic
Water Company (“CDWC”) for the proposed transfer of retail water facilities and services from CDWC to
the City. State law requires that LAFCO approval of an out-of-agency service agreement be in
anticipation of future annexation of the area by the City. Over the past several months, LAFCO staff has
worked with City and County staff to discuss infrastructure and government service issues related to
future annexation of the islands by La Habra. In addition to water service, sewer issues in the islands
represent an important topic since approximately 150 properties located in the islands are currently on
septic systems. Recently, LAFCO staff facilitated a meeting involving County and City staff to discuss
costs and potential revenue sources related to municipal service provision and infrastructure
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 3 | P a g e
maintenance in the islands. Over the next few months, discussions will continue to ensure that the
interests of the County, city and residents are aligned. Approval of the agreements and initiation of
annexation are expected to occur in early spring.
F o s t e r i n g P a r t n e r s h i p s
The Commission continues to foster partnerships and enhance communications with local government
agencies and communities through LAFCO’s projects and activities. The following section provides an
update on LAFCO communication and outreach efforts conducted during the second quarter.
South Orange County Visioning Process
The Visioning Process involves stakeholder working
groups for two South County Study Areas: (1) Rancho
Mission Viejo (“RMV”) Study Area (the Cities of San Juan
Capistrano and San Clemente, Rancho Mission Viejo
Planning Areas, the unincorporated community of Ladera
Ranch, and the Santa Margarita Water District); and (2)
Rancho Santa Margarita (“RSM”) Study Area (City of RSM,
the unincorporated communities of Coto de Caza,
Wagon Wheel, Stonecliffe, and Las Flores, and the Santa Margarita Water District). Identified as a key
priority in this year’s LAFCO Work Plan, the South Orange County Governance Visioning Process over the
past several months has provided an opportunity for the stakeholders to discuss the future of local
governance for the study areas. Provided with volumes of background and financial data on service
costs and revenues for the study areas by LAFCO, during the second quarter, the working groups
reviewed how LAFCO jurisdictional changes and agency formations are processed and reviewed by the
Commission. A key meeting that occurred during the 2nd quarter involved an interactive discussion of
the criteria and variables for identifying viable governance options. While it was originally anticipated
that the last stakeholder meeting would occur during the 2nd quarter, both working groups have agreed
to continue meeting to discuss the development of communication and dataset that working group
members may use to engage respective boards and communities. At the conclusion of the stakeholder
visioning process, LAFCO staff will prepare a report on the process for Commission consideration.
2015 OC Collaborative Services Summit
Registration for the 2015 OC Collaborative Services Summit is currently underway! An exciting half-day
program, the Summit will take place on Thursday, February 26, 2015, beginning at 8:00 a.m. with a
networking breakfast at the Costa Mesa Country Club. The program has been designed to provide a
platform for government leaders to share and hear how collaborative service opportunities can work for
Orange County. During the second quarter, the Summit’s Planning Committee, comprised of
representatives from the County, cities, special districts, and the Orange County Transportation
Authority, worked diligently to put together an informative and action-oriented program for our
attendees. The program will open with keynote speaker Ted Gaebler, a recipient of ICMA’s prestigious
Management Innovation Award and author of Reinventing Government: How the Entrepreneurial Spirit
is Transforming the Public Sector.
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 4 | P a g e
Also featured will be a panel of elected and executive leaders that will offer their own personal
experiences of successes (and failures) involving collaborative services with other agencies. Featured
speakers will include: Councilmember Wendy Bucknam (Mission
Viejo), OC Sheriff Sandra Hutchens, Chief Executive Officer Darrell
Johnson (Orange County Transportation Authority), City Manager
Tim O’Donnell (Brea), General Manager Paul Cook (IRWD), and
Attorney and Firm Partner Sonia Carvalho (Best Best & Krieger LLP).
Our very own Commissioner John Withers will welcome the Summit
attendees and participate as a panelist to discuss LAFCO’s role as a
resource to local governments as they explore collaborative service
delivery.
Additionally, LAFCO has invited several cities, districts and other
organizations to partner with the Commission on hosting of the
event. To date, the City of Costa Mesa, Costa Mesa Sanitary District,
Irvine Ranch Water District, Mesa Water District and the Orange
County Transportation Authority have pledged support.
CALAFCO Legislative Committee
OC LAFCO staff continues to actively participate as a member of the CALAFCO Legislative Committee.
During the second quarter, staff participated in a quarterly Committee meeting held to discuss the
legislative priorities of the Committee in an advisory role to the CALAFCO Board. The Committee
identified multiple key focus areas that include an overhaul of the protest provisions for LAFCO
proceedings, LAFCO’s role in the review of joint power agreements that involve the provision of
municipal services and significant amendments to the statute for the disincorporation process. OC
LAFCO serves as a member of the working group tasked with drafting the disincorporation amendments.
During the 2nd quarter the working group met and presented both amendments and additions to current
state law to the legislative committee. The amendments are intended to clarify the needed information
in evaluating a disincorporation proposal and the responsibility of debts of the disincorporating city.
The next steps for this effort is review of proposed amendments by the CALAFCO Board followed by
outreach to affected stakeholders, including but not limited to, all 58 LAFCOs, League of California Cities,
CSAC, and CSDA. The next legislative committee
meeting will take place in February in Ontario.
The Legislative Quarterly Report, which provides
additional details on 2015 legislation of LAFCO interest, is under a separate report and will be presented
to the Commission at the February 11 meeting.
Coalition of California LAFCOs
The Coalition of California LAFCOs (“CCL”), comprised of Commissioners and staff of all southern LAFCOs
(Imperial, Los Angeles, Orange, Riverside, San Bernardino, and San Diego), continues to meet quarterly
to discuss and collaborate on regional and local issues. Commissioner Cheryl Brothers currently serves
as the Board Treasurer and Ben Legbandt, OC LAFCO Project Manager, is CCL’s Executive Officer. During
the second quarter, the CCL Board held its quarterly meeting on December 3, 2014 to discuss
anticipated legislative activities of the new session of the State Legislature that began on January 5,
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 5 | P a g e
2015. The CCL quarterly meetings provide an opportunity for the group to discuss regional issues and to
explore opportunities to share resources. Recently, the group discussed working with the Southern
California Association of Governments (SCAG) to ensure that there is special district input in the
preparation of long-range transportation planning documents.
Each year, CCL hosts an annual summit that provides an opportunity for Commissioners and staff to
network with colleagues from the region as well as connect with other organizations, such as the League
of California Cities and Institute for Local Government. Highlights of the summit will be included in the
3rd quarter CQ Report.
O C L A F C O M e e t i n g s a n d O u t r e a c h E f f o r t s
During the 2nd quarter, many of the outreach meetings and efforts involved highlighting the February 26
Collaborative Services Summit. The one-on-one and group meetings and presentations provide the
opportunity for LAFCO staff to keep County, city, special district representatives and other LAFCO
stakeholders apprised of key LAFCO events and projects.
Q 2 F Y 1 4 - 1 5 M E E T I N G S & O U T R E A C H E F F O R T S
O c t o b e r M e e t i n g s OCCMA Monthly Luncheon Meeting
HR Consultant to discuss staff retreat and development
Protest hearing for the Carmel/Lampson Reorganization
ISDOC Executive Committee Meeting
CALAFCO Meeting to discuss sphere session for annual conference
South County Governance - RMV Study Area Stakeholder Working Group Meeting #3
Conference call meeting with Ted Gaebler/Troy Butzlaff to discuss summit
ACC-OC City Managers Committee
OC Auditor Controller staff regarding AB 8 process and special district formation proceedings
CALAFCO Annual Conference (Oct 15-17)
Irvine Asst. City Manager to discuss OC LINC and shared services summit
LAFCO Consultant to discuss South County agenda for stakeholder meetings
Brea City Manager to discuss shared services summit
ISDOC Quarterly Meeting to present LAFCO Update and Shared Services
South County Governance - RSM Study Area Stakeholder Working Group Meeting #3
County COO to discuss potential annexation of La Habra islands
RMV staff to discuss LAFCO priorities/vacancies
ADA Title II Compliance Training
Training Partners to discuss County building safety and other issues
N o v e m b e r M e e t i n g s Exit interview with independent audit team, White Nelson Diehl Evans
Women Leading Government Coaching Teleconference
Presentation of Government Leadership Award to IRWD Board Sexual Harassment Avoidance staff training with BB&K
Shared Services Summit Planning Committee
OC Grand Jury for LAFCO 101
Center for Demographic Research Management Oversight Committee meeting
South OC Economic Coalition
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 6 | P a g e
D e c e m b e r M e e t i n g s
Swearing in ceremony for Supervisor Lisa Bartlett
CCL Board meeting
South County Governance - Rancho Mission Viejo Study Area Stakeholder Working Group Meeting #4
Center for Demographic Research Management Oversight Committee
Interview accounting firm to provide accounting services
CALAFCO Disincorporation Subcommittee
County IT staff to discuss office relocation transition
OCTA staff to discuss board room logistics
OCERS Plan Sponsor meeting
OC Planning Commission meeting regarding Esperanza Hills project
Southern California Association of Governments Technical Working Group
LAFCO Consultant to discuss South County Governance stakeholder meetings
Presentation of Government Leadership Award to YLWD Board
OCCOG Executive Director to discuss Shared Services Summit
CALAFCO Legislative Committee meeting
Moulton Niguel Water District to discuss Shared Services Summit
P r e p a r a t i o n o f O C L A F C O ’ s A u d i t e d F i n a n c i a l
S t a t e m e n t s
For the past thirteen years, an independent auditor has prepared OC LAFCO’s audited financial
statements. At the November meeting, the auditing firm, White Nelson Diehl Evans LLP, presented OC
LAFCO’s 2013-2014 audited financial statements to the Commission. The auditor did not find any
material issues relating to LAFCO’s accounting procedures and policies, current internal financial
controls, or office procedures. The Commission’s audited financial statements for the past nine years
are publicly available on the OC LAFCO website.
O C L A F C O R e l o c a t i o n – “ G e t t i n g S e t t l e d ”
Since the approval of the new office lease by the Commission in
September 2014, LAFCO staff has worked diligently on
relocation of the LAFCO offices to 2677 N. Main Street in Santa
Ana. On January 12, staff officially took occupancy and is
currently becoming acquainted with LAFCO’s new landlord and
neighbors. During the transition, only minor interruptions and
service provider adjustments were experienced and as the staff
settles in, the office is up and running. Presently the LAFCO
main telephone number (714.834.2556) is the same. However,
because that number is part of the County’s group numbers, we are required to change it. This change
will occur over the next few weeks and will be provided to the Commission and LAFCO stakeholders and
published on our website.
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 7 | P a g e
F Y 2 0 1 4 - 1 5 B u d g e t O v e r v i e w
This CQ report includes the second quarterly budget update for fiscal year 2014-15. The following
budget review of this report provides the Commission with the second quarter bank account balances
(see table below) and a comprehensive overview of LAFCO revenues and expenditures from July 1, 2014
through December 31, 2014 (see page 9).1
R e v e n u e s
The second quarter revenues ($27,856) includes a combination of funding agencies’ apportionments
($13,880), project application filing fees ($12,838) and interest from the agency’s investment portfolio
($1,126) and other miscellaneous revenue ($302).
F i n a n c i a l S t a t e m e n t s
The CQ report includes additional financial statements to better understand LAFCO’s financial status throughout the fiscal year. The following two financial statements provide a snapshot of LAFCO’s performance and details on the agency’s assets, liabilities, and equity.
B a l a n c e S h e e t 2
This financial document (see pages 10-11) summarizes the agency’s assets and liabilities during the month of December on an accrual basis, or when earnings and expenses are incurred.
C a s h F l o w S t a t e m e n t
This financial document (see page 12) provides information on the cash inflow and outflow the agency endured during the second quarter (October - December).
E x p e n d i t u r e s
The total expenditures at the end of the second quarter are approximately forty-six percent (46%) or
$456,962 of the total balance ($985,708). The following table shows the actual funds used and the
target levels for the current fiscal year.
Total Funds Used by Quarter
1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr.
Target 25% 50% 75% 100%
Actual 23% 46% TBD TBD
1 All financial statements contained in the CQ report are on an accrual accounting basis. 2 Unaudited – Subject to Change
As of 9/30/14 Balance
Wells Fargo Checking $ 102,028
Wells Fargo Savings 210,381
770-Payroll Account 137,436
Total $ 449,845
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 8 | P a g e
I n v e s t m e n t R e p o r t
To maximize funds, LAFCO deposits apportionment fees in the Local Agency Investment Fund (LAIF) and
OC Fund accounts. Throughout the fiscal year, the bookkeeper and designated staff members withdraw
from the accounts to cover the agency’s operational expenses.
The following table illustrates the balance of LAFCO’s investment portfolio at the end of the second
quarter:
As of 9/30/14 Balance
LAIF $365,408
OC Fund $541,623
Total $907,031
To date, LAFCO has earned approximately $1,798 in interest which is approximately sixty-three (63%) of
the projected interest earnings for fiscal year 2014-15.
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 9 | P a g e
1st Qtr 2nd Qtr YTD TOTAL Funds Used Funds
Jul-Sep Oct-Dec TOTAL
FY 14-15
Budget (%)Comparison
($)
Revenue
(-) means funds
1 Revenue over expected 1
2 Transfer In from Unreserved Equity 56,175$ -$ 56,175 56,175$ 100.0% -$ 2
3 4000 - LAFCO Apportionment 912,803 13,880 926,683 926,683 100.0% - 3
4 4050 - Fil ing Fees 3,153 12,838 15,991 - N/A 15,991 4
5 4150 - Misc Revenue 290 12 302 - N/A 302 5
6 4200 - Interest & Dividends 672 1,126 1,798 2,850 63.1% (1,052) 6
7 Total Revenue 973,093$ 27,856$ 1,000,949$ 985,708$ 101.5% 15,241$ 7
10 10
11 Expense 11
12 Expenses (+) funds remaining 12
13 Expenditures (-) underbudgeted 13
14 5000 - Salaries 98,858$ 95,991$ 194,850$ 358,400$ 54.4% 163,550 14
15 5010 - Hourly Employees - 256 256 8,200 3.1% 7,944 15
16 5100 - Benefits & Insurance 16
17 5102 - Optional Benefit Plan - - - 15,000 0.0% 15,000 17
18 5104 - Executive Deferred Comp 861 963 1,825 6,700 27.2% 4,875 18
19 5106 - Retirement Benefits 25,915 29,375 55,290 124,000 44.6% 68,710 19
20 5108 - Health Care Insurance 11,983 12,530 24,514 60,740 40.4% 36,226 20
21 5109 - Retiree Health Benefits 3,295 3,034 6,328 13,000 48.7% 6,672 21
22 5110 - Dental Insurance 1,006 1,041 2,047 4,500 45.5% 2,453 22
23 5112 - Life Insurance 213 220 433 1,000 43.3% 567 23
24 5114 - Workers Compensation - - - 1,486 0.0% 1,486 24
25 5116 - Medicare 1,146 1,166 2,312 5,200 44.5% 2,888 25
26 5118 - Unemployment Insurance - - - - N/A - 26
27 5120 - Salary Continuance 271 289 561 1,300 43.1% 739 27
28 5122 - Accidental Death Insur 20 21 42 100 41.6% 58 28
29 5125 - Executive Employee Insur 1,800 1,800 3,600 7,200 50.0% 3,600 29
30 Total 5100 - Benefits & Insurance 46,511 50,439 96,951 240,226 40.4% 143,275 30
31 - 31
32 5150 - Information Technology 825 2,817 3,642 10,000 36.4% 6,358 32
33 5151 - Telephone 225 2,164 2,389 10,000 23.9% 7,611 33
34 5200 - County of Orange 255 84 339 5,500 6.2% 5,161 34
35 5250 - General Liability Insur 2,857 4,049 6,905 15,332 45.0% 8,427 35
36 5300 - Maintenance-Building 58 - 58 520 11.1% 462 36
37 5350 - Membership 7,657 7,336 14,993 29,000 51.7% 14,007 37
38 38
39 5450 - Office Equipment/Supplies 1,538 10,885 12,423 11,500 108.0% (923) 39
40 5500 - Professional Services - 40
41 5510 - Legal 14,088 9,173 23,260 50,000 46.5% 26,740 41
42 5520 - Accounting/Audit 15,636 12,561 28,197 37,900 74.4% 9,703 42
43 5530 - Human Resources - - - 1,000 0.0% 1,000 43
44 5535 - Mapping/Archiving 3,536 - 3,536 8,000 44.2% 4,464 44
45 5540 - Other Professional Service 11,040 10,868 21,908 75,000 29.2% 53,093 45
46 Total 5500 - Professional Services 44,300 32,601 76,901 171,900 44.7% 94,999 46
47 - 47
48 5550 - Investment Admin Fees 116 175 290 620 46.8% 330 48
49 5560 - Banking Fees - 342 342 - N/A (342) 49
50 5575 - CEQA Fil ings 50 - 50 - N/A (50) 50
51 5580 - SBE - - - - N/A - 51
52 5600 - Public Noticing 1,024 804 1,828 10,000 18.3% 8,172 52
53 5625 - Postage 1,019 694 1,713 3,300 51.9% 1,587 53
54 5650 - Office Lease 13,944 7,268 21,212 57,720 36.7% 36,508 54
55 5675 - Equipment Leases/Maint 1,468 1,647 3,115 7,240 43.0% 4,125 55
56 5700 - Commission & Staff Expense 1,197 2,254 3,451 8,000 43.1% 4,549 56
57 5710 - Commission Stipends & Taxes/Fees 3,386 3,618 7,004 16,300 43.0% 9,296 57
58 5750 - Staff Training 294 575 869 3,550 24.5% 2,681 58
59 5800 - Transportation/Travel 29 5,768 5,797 17,000 34.1% 11,203 59
60 5850 - Commission Meeting Exp 660 924 1,584 1,400 113.1% (184) 60
61 Total Expenditures 226,272$ 230,691$ 456,962$ 985,708$ 46.4% 528,746 61
62 Total Net Income (Loss) 746,821$ (202,835)$ 543,987$ -$ (543,987) 62
Orange County Local Agency Formation Commission
Quarterly Overview
October 1, 2014 through December 31, 2014
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 10 | P a g e
LOCAL AGENCY FORMATION COMMISSION ORANGE COUNTY
BALANCE SHEET
DECEMBER 31, 2014
Dec 31, 14
ASSETS
Current Assets
Checking/Savings
Cash and Investments
1000 · County Acct-Payroll 137,435.93
1025 · Wells Fargo Checking 102,028.09
1030 · Wells Fargo Savings 210,381.20
1040 · OC Fund 541,623.27
1050 · Investment Acct - LAIF 365,408.26
Total Cash and Investments 1,356,876.75
Total Checking/Savings 1,356,876.75
Accounts Receivable
Accounts Receivable
1200 · Accounts Receivable 0.01
Total Accounts Receivable 0.01
Total Accounts Receivable 0.01
Other Current Assets
Other Current Asset
1300 · Interest Receivable - Other 152.39
1375 · Prepaid Expenses - Other 19,265.76
1376 · Retirement Prepaid Expense 60,452.35
1550 · Due from Other Governments 0.10
Total Other Current Asset 79,870.60
Total Other Current Assets 79,870.60
Total Current Assets 1,436,747.36
Other Assets
Other Assets
1575 · Pension Deposit 115,783.78
1600 · Security Deposit 6,081.66
Total Other Assets 121,865.44
Total Other Assets 121,865.44
TOTAL ASSETS
1,558,612.80
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 11 | P a g e
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
Accounts Payable
2000 · Accounts Payable 10,982.67
Total Accounts Payable 10,982.67
Total Accounts Payable 10,982.67
Other Current Liabilities
Current Liabilities
2001 · Accrued Liability 2,205.00
2050 · Salaries Payable - OC (9050) 30,855.28
Total Current Liabilities 33,060.28
Total Other Current Liabilities 33,060.28
Total Current Liabilities 44,042.95
Total Liabilities 44,042.95
Equity
3000 · Unrestricted Net Assets 644,259.75
3050 · Restricted Net Assets
3950 · Reserve for Contingency 100,000.00
3960 · Reserve for Litigation 75,000.00
3970 · Reserve for Unfunded Liability 30,000.00
3980 · Reserve for Special Projects 19,054.00
Total 3050 · Restricted Net Assets 224,054.00
3900 · Retained Earnings 158,445.84
Net Income 487,810.26
Total Equity
1,514,569.85
TOTAL LIABILITIES & EQUITY 1,558,612.80
LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 12 | P a g e
LOCAL AGENCY FORMATION COMMISSION ORANGE COUNTY
STATEMENT OF CASH FLOWS
OCTOBER 1, 2014 THROUGH DECEMBER 31, 2014
Oct - Dec 14
OPERATING ACTIVITIES
Net Income -202,834.61
Adjustments to reconcile Net Income
to net cash provided by operations:
Other Current Asset:1300 · Interest Receivable - Other -152.39
Other Current Asset:1550 · Due from Other Governments -1.48
Other Current Asset:1375 · Prepaid Expenses - Other -5,733.83
Other Current Asset:1376 · Retirement Prepaid Expense 63,570.61
Accounts Payable:2000 · Accounts Payable 10,982.67
Current Liabilities:2050 · Salaries Payable - OC (9050) 13,370.25
Current Liabilities:2001 · Accrued Liability 2,205.00
Net cash provided by Operating Activities -118,593.78
INVESTING ACTIVITIES
Other Assets:1575 · Pension Deposit -115,783.78
Net cash provided by Investing Activities -115,783.78
Net cash increase for period -234,377.56
Cash at beginning of period 1,591,254.31
Cash at end of period 1,356,876.75