In the last twentyeight years the Districts Income has increased by 345% from 1.7 million in 1985 to 7.7 mil at Fiscal Year ending June 30, 2013. Reserves are at 2.9 million enough to cover the first five months of operating expenditures. Total assets are 45.6 million.
Standard & Poor's Credit Rating
The District has maintained a AA- Credit Rating by Standard & Poor's. Click here to read the report.
Pleasant Valley Recreation and Park District is contracted with Moss, Levy, and Hertzheim, LLC through fiscal year ending June 30, 2015 to perform the Districts annual Audit of its financial status.
Finance prepares 43 individual detailed budgets for all departments. Budget details presented are Revenue, Expense, and a three(3) year summary page. Workshops are held at Special Board meetings in May of each year where staff can present the details of their own departments to the Directors; as required by Public Code, a review and approval of the draft Budget by the Board on or before July 1; and review and approval of the final Budget on or before August 30 of each year. The budget is revised at least two times during the fiscal year and presented to the Board for approval.
The District has a separation of Cash duties in place. All cash is collected, recorded and banked by District Customer Representatives. The Senior Bookkeeper records the cash transactions into the Accounting Software and the Administrative Services Manager reconciles the cash accounts. The General Manager reviews the cash reconciliations.
The Finance committee meets monthly to review financials and when staff requests changes that have a fiscal impact on the approved budget.
Finance presents the results of the Districts investments in a report on a quarterly basis. The District currently invests in the Local Investment Agency Fund (LAIF). This fund is chosen for its liquidity, safety, and proven track record with the State of California’s Treasury. The District also has five Money Market Accounts at Pacific Western Bank. The District Investment policy is presented to the Board for annual review and approval.
Monthly Financial Report
The Board is presented with a monthly financial summary that has a year-to-date comparison to the previous year's total amounts. The goal of Governmental accounting is accountability rather than profitability.
There are several Fiscal Policies that the Board must review each Fiscal year as required by Public Code. The Policies are, but not limited to: Investment, Conflict of Interest Code, Debt, and Reserves.
Sources of Revenue
1)Tax Apportionment - Property tax secured and unsecured. Property tax secured includes residential, commercial, industrial, farm-land, and undeveloped land. Property tax unsecured includes boats, trailers, planes, and recreational vehicles. Taxes combine to be about 67% of all revenues.
2)Assessment District - In 2001 the Board conducted an assessment ballot proceeding pursuant to the requirements of Article XIIID of the California Constitution and the Landscaping and Lighting Act of 1972. The final ballot result was 58.7% weighted support in favor and as a result the Board gained authority to approve a levy of assessments for future years to come. An annual adjustment is not to exceed 3% or equal to the annual change in the Consumer Price Index for the Los Angeles Area. The levy amount for the Fiscal Year of 2015-2016 is $37.44. SCI Consulting group is the firm hired to administrate this Special Assessment District.
3)User Fees/Facility Rentals - User fees are from classes, programs, and lessons of various kinds, sports team entry fees, activity participation fees, service and supply fees. User fees total to about 9% of all revenues. Rental revenue is generated by the rental of park picnic areas, gymnasiums, fields, lights for all fields, and all District buildings and classrooms. Facility Rentals are about 10% of all revenues.
4)State Grants - State grants are applied for as they become available. The State Grant funding over the past twenty-seven years is about 2.5% of all revenues.
5) Quimby Fees - Local governments in California provide a critical role in the effort to set aside parkland and open space for recreational purposes. Cities and counties have been authorized since the passage of the 1975 Quimby Act (California Government Code §66477) to pass ordinances requiring that developers set aside land, donate conservation easements, or pay fees for park improvements. Revenues generated through the Quimby Act cannot be used for the operation and maintenance of park facilities. The goal of the Quimby Act was to require developers to help mitigate the impacts of property improvements. The act gives authority for passage of land dedication ordinances only to cities and counties. Special districts must work with cities, and/or counties to receive parkland dedication and/or in-lieu fees. The fees must be paid and land conveyed directly to the local public agencies that provide park and recreation services community-wide. The Quimby fees over the past twenty-seven years is about 4.5% of all revenues.
6)Other sources - Cell tower rent, Donations, Interest, and Rebates from vendors. The total is about 4% of all revenues
Disclosure of board members or employee reimbursements for individual charges over $100 for services or products is available for public inspection at the District's Administrative Office. (Government Code Section 53065.5)
Request for Proposals
Acting Administrative Services Manager