{ "document_id": 11748, "page": 61, "width_pt": 612, "height_pt": 792, "rotation": 0, "pipeline_version": "paddleocr-vl-1.6+paul-48", "engine": "paddleocr_vl", "source_run_id": 11861, "item_count": 13, "counts_by_type": { "footer": 1, "header": 1, "heading": 4, "text": 7 }, "build_ms": 2, "items": [ { "id": "p61.1", "order": 1, "type": "header", "bbox": { "l": 51.36, "t": 758.4, "r": 236.16, "b": 721.68 }, "text": "CITY OF PALM DESERT, CALIFORNIA\nNotes to Basic Financial Statements\nFor the Year Ended June 30, 2025", "attrs": { "block_label": "header" }, "level": 2 }, { "id": "p61.2", "order": 2, "type": "heading", "bbox": { "l": 50.88, "t": 705.12, "r": 423.84, "b": 693.12 }, "text": "NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p61.3", "order": 3, "type": "text", "bbox": { "l": 50.88, "t": 685.44, "r": 560.4, "b": 576.48 }, "text": "Revenues that are susceptible to accrual include property taxes and special assessments that are levied for and due for the fiscal year and collected within 60 days after year-end. Licenses, permits, fines, forfeits, charges for services and miscellaneous revenues are recorded as governmental fund type revenues when received in cash because they are not generally measurable until actually received. Revenue from taxpayer assessed taxes, such as sales taxes, are recognized in the accounting period in which they became both measurable and available to pay liabilities of the current period. Grants and similar items are recognized as soon as all eligibility requirements imposed by the provider have been met. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due." }, { "id": "p61.4", "order": 4, "type": "text", "bbox": { "l": 51.12, "t": 568.08, "r": 560.16, "b": 518.88 }, "text": "Interfund activity has been eliminated from the general government function for the government-wide financial statements except for charges between the government's Desert Willow Golf Course and Parkview Office Complex funds and various other functions of the government. Elimination of these charges would distort the direct costs and program revenues for the various functions considered." }, { "id": "p61.5", "order": 5, "type": "text", "bbox": { "l": 51.36, "t": 509.76, "r": 559.68, "b": 473.52 }, "text": "The accrual basis of accounting is followed by the proprietary fund and private purpose trust fund. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred, or economic assets are used." }, { "id": "p61.6", "order": 6, "type": "text", "bbox": { "l": 50.16, "t": 463.68, "r": 560.16, "b": 379.44 }, "text": "Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing goods and services in connection with a proprietary fund's principal ongoing operations. The principal revenue of the Desert Willow Golf Course and Parkview Office Complex Enterprise Funds are charges to customers for use of the golf course and rental fees. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses." }, { "id": "p61.7", "order": 7, "type": "heading", "bbox": { "l": 51.6, "t": 369.84, "r": 172.08, "b": 357.12 }, "text": "D. Appropriations Limit", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p61.8", "order": 8, "type": "text", "bbox": { "l": 50.88, "t": 347.76, "r": 559.68, "b": 287.04 }, "text": "Under Article XIII-B of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller or returned to the taxpayers through revised tax rates, revised fee schedules or other refund arrangements. For the fiscal year ended June 30, 2025, proceeds of taxes did not exceed appropriations." }, { "id": "p61.9", "order": 9, "type": "heading", "bbox": { "l": 51.84, "t": 277.92, "r": 179.76, "b": 265.68 }, "text": "E. Cash and Investments", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p61.10", "order": 10, "type": "text", "bbox": { "l": 50.88, "t": 255.6, "r": 559.92, "b": 207.6 }, "text": "For purposes of the statement of cash flows, the City has defined cash and investments to include cash on hand, demand deposits, investments held in various instruments, and investments held in the California Local Agency Investment Fund (LAIF), California Asset Management Program (CAMP) and Riverside County Treasurer's Pooled Investment Fund." }, { "id": "p61.11", "order": 11, "type": "heading", "bbox": { "l": 51.6, "t": 197.76, "r": 132, "b": 186 }, "text": "F. Investments", "attrs": { "block_label": "paragraph_title" }, "level": 3 }, { "id": "p61.12", "order": 12, "type": "text", "bbox": { "l": 50.4, "t": 175.68, "r": 560.16, "b": 114.96 }, "text": "Investments are reported in the accompanying financial statements at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Changes in fair value that occur during a fiscal year are recognized as investment income reported for that fiscal year. Investment income includes interest earnings, changes in fair value, and any gains or losses realized upon the liquidation, maturity, or sale of investments." }, { "id": "p61.13", "order": 13, "type": "footer", "bbox": { "l": 299.04, "t": 46.56, "r": 311.76, "b": 36.24 }, "text": "61", "attrs": { "block_label": "number" } } ], "excluded_furniture": { "first": [], "last": [] } }