Exhibit 1 - Annual Comprensive Report — Alameda City Council, July 12, 2022

City of Alameda, California
Annual Comprehensive Financial Report
Fiscal Year Ended June 30, 2021

CITY OF ALAMEDA, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED JUNE 30, 2021

PREPARED BY THE

FINANCE DEPARTMENT

GERRY BEAUDIN

INTERIM FINANCE DIRECTOR

City of Alameda, California
People and Places in the City

INTRODUCTORY SECTION

City of Alameda, California
People and Places in the City

City of Alameda, California
Annual Comprehensive Financial Report
For the Year Ended June 30, 2021
Table of Contents

i
Introductory Section:

Table of Contents ...................................................................................................................................................... i

Transmittal Letter ..................................................................................................................................................... v

City Council ........................................................................................................................................................... xv

Principal Officers ................................................................................................................................................... xvi

Organizational Chart ............................................................................................................................................ xvii

Regional Map ...................................................................................................................................................... xviii

GFOA Certificate of Achievement for Excellence in Financial Reporting .......................................................... xix

Financial Section:

Independent Auditor’s Report ................................................................................................................................. 1

Management’s Discussion and Analysis ................................................................................................................ 5

Basic Financial Statements:

Government-wide Financial Statements:

Statement of Net Position ..................................................................................................................... 23

Statement of Activities .......................................................................................................................... 24

Fund Financial Statements:

Governmental Funds:

Balance Sheet .............................................................................................................. ...................... 28

Reconciliation of Governmental Funds Balanc e Sheet with the Statement of Net Position ............ 31

Statement of Revenues, Expenditur es, and Changes in Fund Balances ........................................... 32

Reconciliation of the Net Change in Fund Balances – Governmental Funds with the Change in Governmental Net Position ........................................................................... 34

Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual:

Gene ral Fund ..................................................................................................................................... 35

HOME Program Sp ecial Revenue Fund ........................................................................................... 36 City of Alameda, California
Annual Comprehensive Financial Report
For the Year Ended June 30, 2021
Table of Contents

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Financial Section (Continued):

Proprietary Funds:

Statement of Net Position .................................................................................................................. 38

Statement of Revenues, Expenses and Changes in Fund Net Position ............................................. 39

Statement of Cash Flows ................................................................................................................... 40

Fiduciary Funds:

Statement of Fi duciary Net Position ................................................................................................. 41

Statement of Changes in Fiduciary Net Position .............................................................................. 43

Notes to Basic Fina ncial Statements ............................................................................................................ 45

Required Supplementary Information:

Schedule of Changes in Net Pension Liability and Related Ratios – Miscellaneous Plan ....................... 118

Schedule of Changes in Net Pension Liabi lity and Related Ratios – Safety Plan .................................... 119

Schedule of Contributions – Miscellaneous Plan ...................................................................................... 120

Schedule of Contribu tions – Safety Plan ................................................................................................... 122

The 1079 & 1082 Pension Plans – Schedule of Changes in Total Pension Liability and Related Ratios 124

OPEB – Schedule of Changes in the Ne t OPEB Liability and Related Ratios – Miscellaneous and Pr e-1/1/2019 Safety Plan ..................................................................................... 125

OPEB – Schedule of Contributions -
Miscellaneous and Pr e-1/1/2019 Safety Plan ..................................................................................... 126

OPEB – Schedule of Changes in the Ne t OPEB Liability and Related Ratios – Post-1/1/2019 Safety Plan ................................................................................................................... 127

OPEB – Schedule of Contributions -
Post-1/1/2019 Safety Plan ................................................................................................................... 128

City of Alameda, California
Annual Comprehensive Financial Report
For the Year Ended June 30, 2021
Table of Contents

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Supplemental Information - Combining and Individual Fund Financial Statements and Schedules:

Non-major Governmental Funds:

Combining Ba lance Sheets ................................................................................................................. 132

Combining Statements of Revenues, E xpenditures, and Changes in Fund Balance .......................... 138

Combining Schedules of Revenues, Expe nditures, and Changes in Fund Balances – Budget and Actual ........................................................................................................................... 144

Internal Service Funds:

Combining Statemen ts of Net Position ............................................................................................... 154

Combining Statements of Revenues, Expe nses and Changes in Fund Net Position .......................... 156

Combining Statemen ts of Cash Flows ................................................................................................ 158

Statistical Section:

Financial Trends:

Net Position by Component – Last Ten Fiscal Years ......................................................................... 164

Changes in Net Position – Last Ten Fiscal Years ............................................................................... 166

Fund Balances of Governmental Funds – Last Ten Fiscal Years ...................................................... 170

Changes in Fund Balances of Governme ntal Funds – Last Ten Fiscal Years ................................... 172

Basic Revenue Index (BRI) ................................................................................................................ 174

Revenue Capacity:

Assessed and Estimated Actual Value of Ta xable Property – Last Ten Fiscal Years ....................... 176

Property Tax Rates - All Direct and Overla pping Governments – Last Ten Fiscal Years ................ 177

Principal Property Taxpayers – Cu rrent Year and Ten Years Ago .................................................... 178

Property Tax Levies and Collect ions – Last Ten Fiscal Years ........................................................... 179

City of Alameda, California
Annual Comprehensive Financial Report
For the Year Ended June 30, 2021
Table of Contents

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Statistical Section (Continued):

Alameda Municipal Power Electric Operating Revenues by Source – Last Ten Fiscal Years .......... 180

Alameda Municipal Power Customer Accounts – Last Ten Fiscal Years ......................................... 181

Alameda Municipal Power Pricing Changes – Last Ten Fiscal Years ............................................... 182

Alameda Municipal Power Top Ten Cu stomers – Last Ten Fiscal Years ......................................... 183

Debt Capacity:

Ratio of Outstanding Debt by T ype – Last Ten Fiscal Years ............................................................. 184

Ratio of General Bonded Debt Outs tanding – Last Ten Fiscal Years ................................................ 185

Computation of Direct and Overlapping Debt .................................................................................... 186

Computation of Lega l Bonded Debt Margin ...................................................................................... 187

Sewer Fund Debt Coverage – Last Ten Fiscal Years ......................................................................... 188

Alameda Municipal Power Fund Debt Co verage – Last Ten Fiscal Years ........................................ 189

Demographic and Economic Information:

Demographic and Economic Statisti cs – Last Ten Fiscal Years ........................................................ 190

Principal Employers – Curren t Year and Nine Years Ago ................................................................. 191

Operating Information:

Full-Time Equivalent City Government Empl oyees by Function – Last Ten Fiscal Years .............. 192

Operating Indicators by Function/Pr ogram – Last Ten Fiscal Years ................................................. 194

Capital Asset Statistics by Function/ Program – Last Ten Fiscal Years ............................................. 198

Finance Department
2263 Santa Clara Avenue, Room 220
Alameda, California 94501
(510) 747-4881

February 9, 2022

Honorable Mayor and
Members of the City Council

We are pleased to present the City of Alameda (City) Annual Comprehensive Financial Report for the year ending June 30, 2021. The information in this Annual Comprehensive Financial Report is prepared in accordance with Generally Accepted Acco unting Principles (GAAP) and includes an unmodified opinion on the report by the City's independent certified public accountants. Although we rely on the standards and expertise of these external auditors, the responsibility for the accuracy and fairness of this report rests with the City.

For those readers interested in a more detailed review of the City’s financial statements, a narrative section called the Management’s Discussion and Anal ysis (MD&A) has been included as part of the Financial Section. The MD&A reports on the financial highlights of the City and provides additional analysis on the variances and trends reported as part of the financial statements. The MD&A also discloses significant items affecting the financial condition of the City and is designed to be read in conjunction with this letter of transmittal.

City Profile

The City was incorporated in 1854 and is located in Alameda County, the growing East Bay region of the San Francisco Bay Area. The City has a permanent staff of 574 allocated full-time positions (including Alameda Municipal Power) and serves approximately 81,000 residents in a land area of

10.61 square miles, plus 12.3 square miles of water.

The City operates utilizing the Council-Manager form of government. The Mayor and four Council members are elected at large for staggered four-year terms to govern the City. The City Treasurer and City Auditor are also elected for four-year terms. The City Council is responsible for establishing policies, adopting a biennial budget, appointing commissioners and committee members, as well as hiring the City Manager, City Attorney and City Clerk.

The City Manager is responsible for implementing the Council’s policies, and overseeing the day-to-day operations and management of the City. Current City Council priorities include: preparing Alameda for the future; encouraging economic development across the island; supporting enhanced livability and quality of life; protecting core services; and ensuring effective and efficient operations.

Honorable Mayor and
Members of the City Council

City departments and areas of responsibility are comprised of the following:

General Government includes staff and activities associated with the City Council, City Manager, City Clerk, City Attorney, and Risk Management.

Finance Department provides financial reporting, payroll se rvices, budgeting, purchasing, accounts payable, accounts receivable, and business licenses.

Human Resources Department includes staff and activities associated with recruitment, training and development, employee and labor relations, disability management, safety administration, and policy and procedure development.

Information Technology Department provides internal support overseeing technology information and daily needs of City as well as collaborates with regional partners to advance tech related issues.

Community Services includes the City’s Library Department and the Recreation and Parks Department, which also includes Senior Center operations and Corica Park Golf Course contract management.

Community Development provides oversight services and project management in the following areas:
housing, social services, asset management, economic development and base reuse at the former Naval Air Station, known as Alameda Point.

Planning, Building, and Transportation includes the permit center, current and advance planning, transportation planning, and building inspection and code enforcement.

Public Safety includes Police with its Communications, Patrol, Investigations, and Traffic and Parking Enforcement divisions, as well as Fire with its Emergency Services, Prevention Services, and Ambulance Transport divisions.

Public Works includes Engineering, Transportation Operations, Streets and Sidewalk Maintenance, Tree Maintenance, and Storm Drains and Sewer Maintenance divisions.

Alameda Municipal Power includes staff and activities associated with operation and maintenance of the local electric distribution system.

Honorable Mayor and
Members of the City Council

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Economic Condition and Outlook

The City of Alameda is a community situated in the San Francisco Bay with residential neighborhoods and commercial areas. There are scenic views of Oakland, San Francisco, and other areas of the Bay shoreline and surrounding hills. The City has physical links to the City of Oakland to the north and east, and offers ferry services to San Francisco from three ferry terminal locations.

Between 2020 and 2021, the population of Alameda decreased by 0.3 percent from 81,312 residents to 80,884 residents, according to the California Department of Finance. It is anticipated that Alameda’s population will increase as new housing units are constructed and occupied at the former Naval Station and elsewhere in the City.

Overall, the outlook for the City is generally stable. Investors continue to demonstrate their faith in the strength of the community by continuing to make capital improvements and through continued development at Alameda Point and in other commercial and residential development elsewhere in the community.

The City began responding to the COVID-19 pandemic in February 2020. Now almost two years later, the pandemic continues to bring significant challenges to the City. Since the onset of the pandemic, more than 3,800 Alamedans tested positive for COVID-19 and to date, more than 100 residents tragically lost their lives to this deadly disease. We have seen increases in: homelessness, people with mental health needs, and violent crime, including domestic violenc e. Businesses small and large have been forced to close their doors, and many residents lost their jobs or had to reduce their paid work hours (and pay) to take care of loved ones. Residents and businesses have been unable to pay their rent, mortgage, and utility bills.

The City continues to play a lead role in responding to the health and safety of our residents and businesses and supporting the most vulnerable members of our community, including:

 Supporting our most vulnerable unhoused populations by working with the County and referral agencies to shelter older adults and medically-vulnerable persons experiencing homelessness in the City through the use of Project Roomkey motels and FEMA trailers.  Providing and maintaining 20 hand sanitizer stations and 11 portable toilets throughout the community.
 Providing masks to the unhoused. These masks were donated by our Sister Cities Jiangyin and Yeongdong-gun.
 Opening day center and dedicated safe parking area to ensure the health and safety of those most in need during the pandemic.
 Providing direct financial support to our sm all businesses, deferred payments for business licenses and City taxes, and rent relief to City tenants.  Communicating regularly to local businesses about available resources from the City and from other agencies and providers.
 Providing timely informational webinars with subject matter experts for businesses and employees, including two mental health webinars series.  Providing rent relief to Alameda’s low-income tenants.  Providing emergency funds for individuals and families at risk of becoming homeless due to loss of income from COVID-19.
 Establishing eviction protections for commercial and residential properties.  Creating the Alameda Strong community fund to provide additional financial support to small businesses, nonprofits, and renters.

Honorable Mayor and
Members of the City Council

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 Creating the Feed Alameda campaign that funds hard-hit restaurants to provide hot and healthy meals for our most vulnerable residents.
 Creating a website dedicated to providing daily updates on COVID-19 and facilitating regular town halls with community members.
 Reconfiguring Park Street and Webster Street commercial corridors (“Commercial Street”) and residential streets (“Slow Streets”) to allow more space for physical distancing, shopping, dining, and physical activity.
 Securing COVID-19 testing on the island and providing updates on testing resources for residents.
 Working with the business associations, retailers and restaurants to promote public health restrictions and safe dining to protect frontline employees and the general public.  Establishing an Economic Recovery Task Force to create a short-term to mid-term plan for mitigating the economic hardships affecting the City's most vulnerable businesses, workers, and residents.
 Implementation of a cap on third-party delivery fees.  Implementation of the Spend Local Campaign, including social media and web marketing, encouraging shoppers to spend locally during the holiday season and afterward. As part of the campaign, the City distributed more than 4,300 gift bags for businesses to give away to shoppers.  Organizing monthly Personal Care Services Coalition to address concerns that are unique to the Personal Services industry.
 Organizing and promoting Alameda Restaurant Week.
 Developing and operating “What’s Open Alameda,” an online platform that allows shoppers to search for businesses that are currently open in the City.

Although the unemployment for Alameda County dropped to 5.0 percent in October 2021, which is considered full employment, the economic impact of the COVID-19 pandemic continues to be evaluated, particularly the credit implications for the City and its ability to access the capital markets.

The City received the first of two allocations of American Rescue Plan Act (ARPA) funds in June 2021 in the amount of $14.34 million. The second allocation of $14.34 million is expected in 2022. ARPA funds may be used to respond to the public health and economic impacts of the pandemic, to provide premium pay to workers performing essential work, for general revenue loss, and for investments in water, sewer, and broadband infrastructure.

Despite the ongoing COVID-19 pandemic, Alameda ended the fiscal year (FY) 2020-21 with growth in major tax revenue categories. In the second quarter of 2021, the median sale price of a single-family residence was $1,450,000 or an increase of 15.7 percent from the same quarter in the prior year.

Continued growth in property sale prices resulted in a 9 percent increase in property tax receipts in FY 2020-21 compared to the prior year. Although sales tax receipts from brick-and-mortar businesses have decreased due to the COVID-19 pandemic, recent changes in collection of sales and use tax from online transactions and full implementation of the City’s new transaction and use tax approved by voters in 2018 (Measure F), resulted in a year-over-year increase in sales and use tax receipts of 10 percent. Overall, the General Fund ended the year with a 7.5 percent increase in revenues over the prior year.

Honorable Mayor and
Members of the City Council

Internal Controls

The management of the City is responsible for establishing and maintaining internal controls designed to ensure that the assets of the City are protected from loss, theft or misuse, and that adequate accounting data is compiled to allow for the preparation of financ ial statements in conformity with GAAP. Internal controls are designed to provide reasonable, but not absolute, assurance that these objectives are met.

The concept of reasonable assurance recognizes that: the cost of a control should not exceed the benefits likely to be derived; and the evaluation of costs and benefits requires estimates and judgments by management. All internal control evaluations occu r within the stated framework. City management believes the City’s internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions.

Budgetary Controls

As part of the City’s internal controls, it maintains budgetary controls. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the appropriated budget approved by the City Council. Every two years, departments work with the City Manager and Finance Department to submit operating budget requests for the next two fiscal years. The City Manager then makes recommendations to the City Council regarding the budget. After public discussion and evaluation of the recommendations, the City Council adopt the budget for the next two fiscal years.

Expenditures are controlled at the fund level for all budgeted departments within the City. At this level, expenditures may not legally exceed appropriations. The City Manager or their designee is authorized to transfer funds between departments within the same fund, and to limit expenditures in response to lower than expected revenues whenever necessary. The budgets are adopted on a basis substantially consistent with GAAP. Any amendments to the total level of appropriations for a fund or transfers between funds must be approved by the City Council.

City Council Goals and Objectives

As part of the budget preparation process, the City Council articulates goals and objectives for two years and evaluates the progress made on the goals established as part of the previous budget. The following represent some of the most significant goals established for FYs 2019-20 and 2020-21 as part of biennial budget process:

1. Preparing Alameda for the future
 Take action on climate change and ensure our infrastructure needs are met, including adopting plans and policies that protect the community against sea-level rise and reduce greenhouse gas emissions and vehicle miles travelled, discussing infrastructure and storm water funding needs and possible sources, increasing the use of low-emissions vehicles within the City’s fleet, and increasing electric vehicle (EV) chargers around town.

2. Encouraging economic development across the Island
 Improve the local economy and attract jobs, including promoting policies and marketing efforts that help retain existing businesses and attract new businesses that provide stable economic opportunities for the City’s local workforce.

Honorable Mayor and
Members of the City Council

3. Supporting enhanced livability and quality of life
 Address housing and homelessness, includi ng implementing policies and programs that help to stabilize rents and increase the supply of housing for all income levels, updating the Land Use Element and Housing Element of the General Plan, and reviewing housing and homeless services and ensure they are adapting to meet the changing needs of the community.
 Mitigate traffic congestion and improve transportation safety, including producing a west- end crossing study, opening the Seaplane Lagoon ferry terminal, adopting a rideshare policy, completing the Central Avenue bike lane improvements, and increasing transit ridership.

4. Protecting core services
 Maintain safety and quality of life, including adopting policies and programs that maintain a high-level of public safety and that maintain Alameda’s high quality City parks, libraries, streetscape, community services, and amenities.

5. Ensuring effective and efficient operations
 Plan for fiscal and organizational stability, including exploring options for reducing the City’s costs and liabilities, increasing City revenue and funding, and investing in technology and other measures that improve the City’s efficiency and productivity.

Major Initiatives and Projects

Alameda Point Development - In June 2015, the City Council approved a Disposition and Development Agreement (DDA) related to development of a 68-acre mixed-use project at Alameda Point known as “Site A”. Site A is the first major public/private development since the former Naval Air Station closure in 1997.

The proposed Site A development provides for:

 A high-quality mixed-use transit-oriented waterfr ont development that includes approximately 1,472 on-site permanent jobs and 2,570 construction jobs over the life of the project, retail amenities, a diversity of housing types for a wide range of income levels, and new waterfront parks;
 Future job creation at Alameda Point through the construction of amenities, gateway improvements into Alameda Point, and new utility infrastructure, all of which will help to support long-term employment-generation;
 Mitigation of traffic impacts by funding transit service to BART, free bus passes for all residents and employees, car- and bike-share stations, and a number of other alternative transportation programs;
 A contribution of $18 million towards significant transportation infrastructure; and  A commitment of $36 million to 15 acres of pub licly accessible parks and open spaces, including the regional sports complex and eight acres of waterfront promenades and parks along the Seaplane Lagoon.

Over the next two years, Site A is anticipated to complete additional housing units originally approved in 2015. Construction cost increases have caused major constraints on the ability of the project to meet its original objectives.

Honorable Mayor and
Members of the City Council

Housing - The City approved a four-block development of approximately 589 affordable units for the Alameda Housing Authority in 2020, construction continued on the 360 unit Del Monte Building residential project and the 776 unit Alameda Marina residential project.

Recreation and Parks:

 The De-Pave Park Vision Plan was approved and a grant submitted to fund a more comprehensive Master Plan process, construction document development and application for regional permits.
 Through an extensive renaming process with the community, the park formerly known as Jackson Park was officially renamed as Chochenyo Park to honor the local Indigenous people, the Lisjan Ohlone, and their native language.
 Preparing to open three new parks built by housing developers that will be maintained and operated by the Recreation and Parks Department, including Alameda Point Neighborhood Park, Alameda Point Waterfront Park and Alameda Landing Waterfront Park.  Significant park improvements completed include a new restroom and gym floor at the Alameda Point Gym, drainage at the Leydecker Recreation Center and Bay Farm Library, and replacement of the northeast gangway and dock at Grand Street Boat Ramp.  The first 9-holes of the North Course at Corica Park Golf Course opened to the public.  There was a major structural fire at the Littlejohn Park Recreation Center and the rebuilding process began. This center was the location of both Recreation and Parks programs as well as Ala Costa, a non-profit providing after school and summer programs for youth with developmental disabilities.

Information Technology, Finance, and Human Resources Departments - Implemented the new Tyler Munis Enterprise Resource Planning (ERP) system and the new OpenGov budgeting system.

Other business development highlights – The City completed its citywide Economic Development Strategic Plan (EDSP) in 2018. The EDSP is the City’s long-term (five to ten years) roadmap for business attraction, retention and workforce development activities. The EDSP identified life sciences as one of the six business sectors in Alameda targeted for growth:

 Research Park at Marina Village has recently attracted many life science companies, including Scribe Therapeutics co-founded by Nobel Prize chemist Jennifer Doudra.  Penumbra, Alameda’s largest private sector employer, has grown to over 2,000 employees.  Exelixis, a bio-medical business, leased over 100,000 square feet at Harbor Bay Business Park, and at 300 employees, is now one of the City’s largest private employers.  Construction was completed on a 70-room hotel in 2021.

Pension and Post-Employment Benefits Liability

Pension and Post-Employment Benefits Liability - The City has worked to successfully enact Pension and OPEB solutions to address the liability. Those effort s include limiting retiree health care to former employees-only (spouses and families are now excluded), significant employee financial contributions to both pension and retirement health care benefits, and raising the age of retirement as a result of the State’s own pension reform efforts. In addition to these actions, the City Council has adopted a Pension Rate Stabilization and OPEB Funding Policy (Policy) that directs annual contributions to a Public Agencies Retirement Services (PARS) Trust for prefunding Pension and other Post-Employment Benefits Obligations. The Council further adopted a policy such that one-half of each fiscal year’s General Fund surplus over the 25 percent available fund balance shall be put toward reducing the CalPERS unfunded liability for either pensions or other post-employ ment benefits. The Council recently directed that 25 Honorable Mayor and
Members of the City Council

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percent of the surplus fund balance be sent to the City’s 115 Trust and the remaining 75 percent be sent directly to CalPERS to reduce the City’s unfunded pension liability. The 115 Trust also restricts funds so they can only be used to address these long-term obligations. Another notable feature of the Policy is to direct any unspent funds of the City’s closed legacy pension plans (1079/1082 Pension Plans) toward the Trust, which will also help fund these obligations.

CAPITAL IMPROVEMENT PROGRAM

The City developed a Capital Improvement and Maintenance Plan (CIP) detailing specific budgeted capital projects. Each of the projects is consistent with the overall goals and principles of the City. Below are certain highlights of projects completed during the reporting period.

Cyclic 17 Sanitary Sewer Rehabilitation ($8.9 million)

The project replaced 2.7 miles of sewer main in locations prioritized based on condition assessment and possible consequence of pipe failure. It furthers the objectives of the City’s Sewer System Management Plan and Sewer Master Plan. The work also meets the annual work requirements per a federal consent decree the City is party to.

Repairing and Resurfacing of Certain Streets ($1.3 million) The City's Pavement Management Program repaired and/or resurfaced approximately three miles of roadway. The project included treatment of an estimated 4.5 miles of pavement. The City’s Pavement Management Index, issued by the Bay Area Metropolitan Transportation Commission is “Good”.

Sidewalk Repair and Replacement ($0.6 million)
The City’s sidewalk program removed nearly 3,000 tripping hazards and 8,000 square feet of deteriorated sidewalk. As conduits for pedestrian movement and access, sidewalks enhance connectivity and promote walking. Safe, accessible, and well maintained sidewalks are fundamental to mobility and a healthy community.

Dredging of Lagoon 3 and Lagoon 5 ($0.6 million)
The project mechanically dredged the lagoons to remove accumulated sediment. The dredge spoils were loaded into trucks and hauled to suitable disposal sites that accepted the material. This work is needed to maintain water storage, movement and quality in the lagoons, which serve both recreational and stormwater detention purposes.

Otis Drive Traffic Calming Project ($1.1 million)
To improve street safety, the project converted Otis Drive from a four-lane street to three-lanes, adding bike lanes, updating crosswalks, installation of a pedestrian island and rectangular rapid flash beacon (RRFB) system, constructing a protected intersection at Otis Drive and Grand Street, and bus stop improvements.

Street, Parking Lot and Park Pathway LED Retrofit ($0.5 million) Nearly 2,000 decorative lights were converted to LED, an energy efficient alternative to the existing high- pressure sodium. This project not only yields utility savings that can be utilized to repair and replace poles, it improves lighting in the immediate as the existing lamps were past their useful life.

Installation of Traffic Signals on Harbor Bay Parkway ($0.9 million) The project installed signals at Harbor Bay Parkway/North and South Loop Road and Harbor Bay Parkway/Penumbra Place and South Loop Road, including, but not limited to, traffic signal cabinet and Honorable Mayor and
Members of the City Council

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controller, service, signal poles, accessible pedestrian signal, video detection systems, battery backup system, and emergency vehicle preemption.

New Seaplane Lagoon Ferry Terminal ($22 million)
Through an assortment of developer funds, grant dollars and multiple contributing agencies, a third ferry terminal is now open in the City of Alameda. A monumental step towards reducing commuter’s reliance on vehicles. The terminal’s exact location is called Seaplane Lagoon Ferry because it is located where the Navy’s amphibious aircraft used to emerge from the bay and taxi onto land. The Water Emergency Transportation Authority will run the ferry and manage the water side assets. The City will maintain the landside assets.

The FY 2020-21 adopted Capital Improvement Program Budget appropriated an additional $25.25 million and was allocated to the following types of projects:

Category Amount in Millions Percent of Total
Rehabilitation $14.46 57.3%
Transportation $9.71 38.5%
Park, Sea Level Rise, Alameda Point $1.08 4.2%

Rehabilitation
57%
Transportation
39%
Park, Sea Level Rise,
Alameda Point
4%
20/21 Capital Improvement Program by Category
Honorable Mayor and
Members of the City Council

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Awards and Acknowledgements

The Government Finance Officers Association (GFO A) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City for its Annual Comprehensive Financial Report for the fiscal year ended June 30, 2020. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports.

The City received the GFOA’s Distinguished Budget Presentation Award for its two-year budget document for FY 2021-2023. In order to qualify for t he Award, the City’s budget document had to meet specific criteria as a policy document, a financial plan and a communications device.

This Annual Comprehensive Financial Report was prepared by the City’s Finance Department staff, under the leadership of Gerry Beaudin, Assistant City Manager/Interim Finance Director. This report is representative of the staff’s ongoing commitment to provide excellent service to Alameda residents.

Many thanks are also extended to the independent auditors of Maze & Associates for their review of this report, and to the City Council, City Treasurer, and City Auditor for their stewardship and commitment to assist in ensuring the long-term fiscal health of the City.

Respectfully submitted,

_____________________
Eric J. Levitt
City Manager

_____________________
Gerry Beaudin
Assistant City Manager/Interim Finance Director

City of Alameda
City Council

Mayor Marilyn Ezzy Ashcraft
Vice Mayor Malia Vella
Councilmember Tony Daysog
Councilmember Trish Herrera Spencer
Councilmember John Knox White
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City of Alameda
Principal Officers

ELECTED OFFICIALS

Kevin Kearney, City Auditor

Kevin Kennedy, City Treasurer

CHARTER OFFICERS

City Manager, Eric Levitt
City Attorney, Yibin Shen
City Clerk, Lara Weisiger

EXECUTIVE MANAGEMENT TEAM

Assistant City Manager/Interim Finance Director, Gerry Beaudin Chief of Police, Nishant Joshi
Community Development Director, Lisa Maxwell
Fire Chief, Nicolas Luby
General Manager, Alameda Municipal Power, Nicolas Procos Human Resources Director, Nancy Bronstein
Information Technology Director, Carolyn Hogg
Library Director, Jane Chisaki
Planning, Building and Transportation Director, Andrew Thomas Public Works Director, Erin Smith
Recreation and Park Director, Amy Wooldridge

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City of Alameda
City Profile
The City of Alameda, incorporated April 19, 1854, is a 10.6 square mile city located in San Francisco Bay. Alameda has a population of 80,884. The City of Alameda is seven miles east of San Francisco, situated within San Francisco Bay, and less than one mile west of the City of Oakland, directly west of Interstate 880. Alameda is a brief drive north of Oakland International Airport, which borders the City on the southeast.

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City of Alameda, California
People and Places in the City

FINANCIAL SECTION

City of Alameda, California
People and Places in the City

INDEPENDENT AUDITOR’S REPORT
To the Honorable Members of the City Council
City of Alameda, California
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Alameda (City), California, as of and for the year ended June 30, 2021, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as
listed in the Table of Contents.

Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepte d in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, includi ng the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the City’s preparation an d fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we express no such opinion.

An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and approp riate to provide a basis for our audit opinions.

Opinions
In our opinion, the financial statemen ts referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities , each major fund, and the aggregate remaining fund information of the City as of June 30, 202 1, and the respective change s in financial position and, where applicable, cash flows thereof and the respective bu dgetary comparisons listed in the Table of Contents as part of the basic financial statements for the year then ended in accordance with accounting principles generally accepted in the United States of America.
1 Change in Accounting Principles
Management adopted the provisions of Governmental Accounting Standards Board Statement No. 84 – Fiduciary Activities, which became effective during the year ended June 30, 2021 and required the restatement of net position of the Other Post-Employment Benefits Pl an Trust Funds as discussed in Note 8D to the financial statements.

In
addition, the Statement established the new fund type, Custodial Funds, and e liminated the fund type of Agency Funds.

Management also early-adopted the provisions of Gove rnmental Accounting Standards Board Statement No. 98 - The Annual Comprehensive Financial Report for the year ended June 30, 2021, which establishes the term annual comprehensive financial report and its acronym ACFR . That new term and acronym replace instances of comprehensive annual financial report and its acronym in generally accepted accounting principles for state and local governments.

The emphasis of these matters does not constitute a modification to our opinions.

Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis and other required supplementary information as listed in the Table of Contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an ap propriate operational, economic or historical context.

We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the Unite d States of America, which consiste d of inquiries of management about the methods of preparing the information and compari ng the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The Introductory Section, Supplemental Information, and Statistical Section as listed in the Table of Contents are presented for purposes of additional analysis and are not a required part of the basic financial statements.

The Supplemental Information, as listed in the Table of Contents, is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America by us and other auditors. In our opinion, the Supplemental Information is fairly stated, in all material respects, in relation to the basic financial statements as a whole.

The Introductory and Statistical Sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. 2 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated February 9, 2022, on our
consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an integral pa rt of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

Pleasant Hill, California
February 9, 2022
3 City of Alameda, California
People and Places in the City

City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021
Management’s Discussion and Analysis (MD&A) provides an overview of the City of Alameda’s activities and financial performance for the fiscal year ended June 30, 2021. To obtain a complete understanding of the City’s financial condition, this document should be read in conjunction with the accompanying Transmittal Letter, Basic Financial Statements, and the notes to the basic financial statements.

Financial Highlights
 The City implemented Governmental Accounting Standards Board (GASB) Statement No. 84, Fiduciary Activities . This Statement establishes cr iteria for identifying fiduciary activities of all state and local governments. The focus of the criteria generally is on 1) whether a government is controlling the asse ts of the fiduciary activity and 2) the beneficiaries with whom a fiduciary relationship exists. Separate criteria are included to identify fiduciary component units and poste mployment benefit arrangements that are fiduciary activities.
 The assets and deferred outflows of the governm ental activities of the City exceeded its liabilities and deferred inflows at the close of the fiscal year by $226.6 million, of which unrestricted net position was a deficit of $217. 1 million. Excluding the $366.2 million net pension liability, total pension liability, and net OPEB liability, which are not claims on current year financial assets, $149.1 million of unrestricted net position is available to meet the City’s ongoing obligations to citizens and creditors.  The City’s total net position increased by $41.1 million from the prior year, with $4.1 million attributable to business-type activities and $37.0 million to governmental activities.  As of June 30, 2021, the City’s governmental funds reported combined fund balances of $202.8 million, an increase of $33.1 million in comparison to the prior year. Of this amount, $56.6 million of unassigned fund balance is available for spending at the City’s discretion.  At the close of the fiscal year, the General Fund reported total assets of $78.8 million and total fund balance of $73.1 million. This represents an increase in fund balance of $18.4 million, or 33.6% from prior fiscal year. Of the total fund balance, $56.6 million, or 77.4%, was unassigned.

Overview of the Annual Comprehensive Financial Report
The Annual Comprehensive Financial Report is presented in five sections:
 An introductory section that includes the Transmittal Letter and general information  Management’s Discussion and Analysis (MD&A)
 The Basic Financial Statements that include all of the financial activities of the City. There are three components: Government-Wide Financial Statements, Fund Financial Statements and Notes to the Basic Financial Statements.  Required and Other Supplemental Information
 Statistical Information
5 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

Government-Wide Financial Statements

The Government-Wide Financial Statements provide a long-term view of the City’s activities as a whole. They also provide the overall financial condition of the City using accounting methods similar to those used by private-sector businesse s. They include the St atement of Net Position and the Statement of Activities.

The Statement of Net Position presents information on all of the government’s assets, deferred outflows of resources, liabilities, and deferred in flows of resources on a full accrual basis of accounting similar to that used by private-sector companies. Over time, increases or decreases in the City’s net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating.

The Statement of Activities provides information about the City’s revenues and expenses on a full accrual basis, with an emphasis on measuring net revenues or expenses for each of the City’s programs. The Statement of Activities explains, in detail, the change in net position for the fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows.

The amount of the Statement of Net Position and the Statement of Activities are divided into two categories in order to provide a summary of each type of activity:

Governmental Activities – all of the City’s basic services are reported in this category.

Included in basic services are the City Counc il, City Manager, City Attorney, City Clerk, Human Resources, Finance, Police, Fi re, Public Works, Building, Planning, Transportation, Community Development Services, Housing, Library, and Recreation and Parks. These services are supported by the City’s general revenues such as taxes, state subventions, and by special program revenues such as fees and grants.

Business-Type Activities – all of the City’s enterprise activities are reported in this category. Unlike governmental services, thes e services are intended to recover all or a significant portion of their costs through user fees and charges. Included in the City’s enterprise activities are sewer and electric utility systems.

Fund Financial Statements

The Fund Financial Statements provide detailed information about each of the City’s most significant funds, or “major funds”, not the City as a whole. Therefore, each major fund is presented individually, while all non-major fund s are combined in a singl e column on each fund statement. Supplemental schedules display these non-major funds in more detail. The General Fund is always considered a major fund, but other funds may change from year-to-year as a result of changes in the pattern of City activities.

Some funds are required to be established by State law and by bond covenants. However, management establishes many other funds to help control and manage funds for particular purposes or to show legal responsibilities for using certain taxes, grants or other monies are being met.

6 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

The Fund Financial Statement display the City’s operations in more detail than the Government- Wide Financial Statements. All funds of the City can be divided into three categories:

Governmental Funds, Proprietary Funds and Fiduciary Funds.

Governmental Funds – Most of the City’s basic services are included in governmental funds, which focus on how money flows into and out of these funds and the balances left at fiscal year- end that are available for spending. Governmental Funds Financial Statements are prepared on the modified accrual basis of accounting, wh ich means they measure only current financial resources and uses. Governmental Funds Financial Statements focus on near-term inflows and outflows of spendable resources as well as on the balances of spendable resources available at the end of the fiscal year. This information may be useful in evaluating a government’s ability to meet its near-term financial requirements. Because the focus of governmental funds is narrower than that of the Government-Wide Financial Statem ents, it is useful to compare the information presented for governmental funds with similar in formation presented for governmental activities in the Government-Wide Financial Statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental funds balance sheet and the governmental funds statement of revenues, expenditures and changes in fund balances provide a reconciliation to assist the reader with this comparison between governmental funds and governmental acti vities. Capital assets and other long-term assets, along with long-term liabilities, are presented only in the Governmental-Wide Financial Statements.

Proprietary Funds – When the City charges customers for services it provides, whether to outside customers or other units of the City, th ese monies are generally reported in proprietary funds. The City maintains two different types of proprietary funds: enterprise funds and internal service funds. These financial statements are pr epared on the full accrual basis of accounting, similar to that used by private-sector companies . The City’s proprietary funds are the same as the business-type activities reported in the Government-Wide Financial Statements, but provide more detail and additional information, such as a statement of cash flows.

Fiduciary Funds – Fiduciary Funds are used to account for resources held for the benefit of parties outside the government. The City’s fiduciary activities are reported in separate statements including the Statement of Fiduciary Net Position and the Statement of Changes in Fiduciary Fund Net Position. These activities are excluded fr om the Government-Wide Financial Statements because the resources of those funds are not av ailable to support the City’s own programs.

Fiduciary funds are prepared on the full accrual basi s, similar to the proprietary funds. The City has two types of fiduciary funds: the custodial funds and the private purpose trust funds.

7 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

Notes to the Basic Financial Statements

The Notes to the Basic Financial Statements provide additional information that is essential to acquire a full understanding of the data prov ided in the Government-Wide and Fund Financial Statements. The Notes to the Financial Statements follow the basic financial statements.

Required Supplemental Information

In addition to the Basic Financial Stat ements and accompanying notes, the Required Supplemental Information presents required supplementary information, including information on the City’s pension and OPEB plans. Required supplementary information can be found immediately following the Notes to the Basic Financial Statements.

Financial Analysis of Government-Wide Financial Statements

This section focuses on the City’s net position and changes in net position of its governmental and business-type activities. The net position, for the City as a whole, increased $41.1 million or

11.6%, from $353.9 million at June 30, 2020 to $395.0 million at June 30, 2021. The change in net position is mainly due to increases of $63.7 million in assets and $8.0 million in deferred outflow of resources, which is offset by an increase of $17.5 million in liabilities.

8 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

Details of the net position are presented in the summary are as follows:

At June 30, 2021, the City report ed positive balances in all categor ies of net position except for unrestricted net position primarily due to the inclusion of the net pension liabilities and net OPEB liabilities. The largest portion of the City’s net position, $416.4 million, is its investment in capital assets less any related outstanding debt that was used to acquire those assets. The City uses these capital assets to provide services to it s residents and other stakeholders. Accordingly, these assets are not available for future spending. Although the City’s investment in its capital assets is reported net of related debt, the resources needed to repay this debt must be provided from other sources because the capital assets themselves cannot be used to liquidate these liabilities.

Condensed Statement of Net Position
as of June 30, 2021 and 2020
(in thousands)
Governmental Business-type
Activities Activities Total
2021 2020 2021 2020 2021 2020
Asse ts
Current and other assets 301,440 $ 254,546 $ 144,344 $ 142,440$ 445,784$ 396,986$ Capital assets 337,031 329,254 131,187 124,047 468,218 453,301 Total assets 638,471 583,800 275,531 266,487 914,002 850,287 Deferred Outflows of Resources
Deferred losses on refunding 438 500 438 500 Related to pensions 38,415 35,156 3,777 2,903 42,192 38,059 Related to OPEB 14,780 10,985 202 73 14,982 11,058 Total Deferred Outflows of
Resources 53,195 46,141 4,417 3,476 57,612 49,617 Liabilities
Long-term Liabilities 408,230 401,373 63,509 65,119 471,739 466,492 Other Liabilities 42,169 32,028 13,699 12,619 55,868 44,647 Total Liabilities 450,399 433,401 77,208 77,738 527,607 511,139 Deferred Inflows of Resources
Related to pensions 1,072 3,351 327 613 1,399 3,964 Related to OPEB 13,600 3,551 9 48 13,609 3,599 Balancing account 34,031 27,350 34,031 27,350 Total Deferred Inflows of
Resources 14,672 6,902 34,367 2
8,011 49,039 34,913
Net Position:

Net Inv estment in Capital Assets 306,331 297,300 110,041 102,850 416,372 400,150 Restricted 137,397 123,984 20,951 25,633 158,348 149,617 Unrestricted* (217,133) (231,646) 37,381 35,731 (179,752) (195,915) Total Net Position 226,595$ 189,638$ 168,373 $ 164,214$ 394,968$ 353,852$ * Unrestricted net position for June 30, 2021 affected by the balance of the City's $247.5 million net pension liabilities and the $112.4 million in net other post-employment benefits, which are not claims on current year financial assets. 9 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021
Restricted net position, that portion of the City’s net position, 40.1%, subject to restrictions on how these resources may be used, increased $8.7 milli on from $149.6 million at June 30, 2020 to $158.3 million at June 30, 2021. This was primarily a result of allocating funds to a number of capital and transportation projects during the year. The corresponding increase is in the net investment in capital assets component of the net position.

Total liabilities increased by $16.5 million from $511.1 million at June 30, 2020 to $527.6 million at June 30, 2021 due primarily to an increase in the City’s net pension liability and net OPEB liability.

Information about changes in net position is presented in the summary schedule below:

Condensed Statem ent of A ctivities
for the years ended June 30, 2021 and 2020
(in thousands)
Governmental Business-type
Activities Activities Total
2021 2020 2021 2020 2021 2020
Revenues
Program revenues
Charges for services 36,336$ 36,569$ 77,982$ 77,947$ 114,318$ 114,516$ Operating grants and contributions 10,772 8,402 10,772 8,402 Capital grants and contributions 25,424 22,446 25,424 22,446 General revenues
Property taxes 63,422 56,814 63,422 56,814 Sales taxes 19,440 17,601 19,440 17,601 Utility users tax 9,091 8,809 9,091 8,809 Other taxes 25,392 21,880 25,392 21,880 Use of money and properties 5,775 12,673 442 2,952 6,217 15,625 Miscellaneous 665 3,360 422 514 1,087 3,874 Total revenues 196,317 188,554 78,846 81,413 275,163 269,967 Expenses
General Government 16,170 16,958 16,170 16,958 Police 42,073 45,157 42,073 45,157
Fire 46,814 47,028 46,814 47,028
Public Works 23,596 25,410 23,596 25,410 Community Development 18,116 17,247 18,116 17,247 Community Services 11,360 11,592 11,360 11,592 Housing 4,942 3,988 4,942 3,988
Interest on Long-Term Debt 801 1,0 36 801 1,036 Sewer Services 5,861 6,018 5,861 6,018 Alameda Municipal Power 64,314 63,832 64,314 63,832 Total expenses 163,872 168,416 70,175 69,850 234,047 238,266 Change in Net Position Before Transfers 32,445 20,138 8,671 11,563 41,116 31,701 Transfers, Net 4,512 4,557 (4,512) (4,557) Change in Net Position 36,957 24,695 4,159 7,006 41,116 31,701 Beginning Net Position 189,638 164,943 164,214 157,208 353,852 322,151 Ending Net Position 226,595$ 189,638$ 168,373$ 164,214 $ 394,968$ 353,852$ 10 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

Total revenues increased approximately $5.2 million or 1.9%. The primary increases are in property taxes of $6.6 million and a $3.0 million increase in capital grants and contributions.

These increases were offset by a $9.4 million decrease in use of money and properties. Both of the increases and the decrease were recorded in governmental activities.

Expenses decreased approximately $4.2 million or 1.8% compared to the prior year. This is primarily due to a $3.1 million decrease in Police and a $1.8 million decrease in Public Works.

Governmental Activities – Expense and Program Revenue by Source

Program revenue associated with Governmental Activities total $72.5 million, or 44.3% of program expenses. Expenses not covered by program revenues must be funded from non-program sources such as general tax revenues. The table below illustrates the gap between program revenues and expenses by major activity. Public safety programs rely heavily on taxes to support operations. General government programs provide benefit to both business-type and governmental activities and receive some funding through internal indirect cost allocations to supplement program revenue and general tax revenue.

The pie chart on the next page illustrates the distribution of total revenue of $196.3 million among its various sources. The largest revenue sour ces for governmental activities are property and related taxes of $63.4 million, or 32.3%, and charges for services of $36.3 million, or 18.5%, of total governmental revenues. Operating and capital grants and contributions approximated $36.2 million in 2021, or 18.4% of total governmental revenues. Sales taxes and utility users tax are also significant individual revenue sources for the City’s governmental activities, amounting to

9.9% and 4.6%, respectively. The “Other Taxes” category represents 12.9% of total revenues, increasing by 16.1% from the prior year. This increase in other taxes can be mostly attributed to a rise in transfer taxes and franchise fees. The remaining 3.4% of revenue for governmental activities comes from use of money and property revenues and miscellaneous revenues.

Expense and Program Revenue - Governmental Activities
for the year ended June 30, 2021
(in thousands)
Net Revenue
Program (Expense)
Expenses Revenues of Activities
Governmental Activities
General Government 16,170 $ 4,996 $ (11,174) $ Police 42,073 1,480 (40,593)
Fire 46,814 5,404 (41,410)
Public Works 23,596 38,279 14,683
Community Development 18,116 12,418 (5,698)
Community Services 11,360 6,457 (4,903)
Housing 4,942 3,498 (1,444)
Interest on Long-Term Debt 801 (801)
163,872$ 72,532$ (91,340)$
11 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

Revenues by Source - Governmental Activities
for the years ended June 30, 2021 and 2020
(in thousands)
2021 2020 Difference
Charges for Services 36,336$ 36,569$ (233)$
Operating Grants and Contributions 10,772 8,402 2,370
Capital Grants and Contributions 25,424 22,446 2,978
Property Taxes 53,785 47,750 6,035
Motor Vehicle In-Lieu Fees 9,637 9,064 573
Sales Taxes 19,440 17,601 1,839
Utility Users Tax 9,091 8,809 282
Other Taxes 25,392 21,880 3,512
Use of Money and Property 5,775 12,673 (6,898)
Miscellaneous/Other 665 3,360 (2,695)
196,317$ 188,554$ 7,763$
12 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

Business-Type Activities

The following table presents the same net program information for business-type activities. In these programs, annual surpluses or deficits are retained in the programs as an increase or decrease in the program’s net position.

Net position of the Sewer Services Fund at June 30, 2021 was $98.9 million with the largest portion, $82.7 million, invested in capital assets less any related outstanding debt that was used to acquire those assets. The remaining $16.2 million is available to fund debt service, sewer operations, and future improvements and maintenance projects. The Sewer Services Fund generated operating income of $11.7 million, incurred $4.7 million in operating expenses and $1.7 million in non-operating expenses and transfers out, fo r an overall net increase in net position of $5.3 million.

Net position of AMP at June 30, 2021 was $69.5 mi llion with the largest portion, $37.4 million available to fund operations, maintenance projects and future capital improvements. Of the remaining $32.1 million, $4.8 million is restricted for debt service and $27.3 million is invested in capital assets less any related outstanding debt that was used to acquire those assets. The cost of AMP operating activities this year was $61.5 mi llion, while the cost of non-operating activities and transfers out net another $6.9 million in expenses. The largest source of operating revenue was user charges for services of $66.3 million. The overall net decrease in net position of AMP was $1.2 million.

Program and General Revenue and Expense - Business-Ty pe A ctivities for the year ended June 30, 2021
(in thousands)
Revenue Expense Net
Sewer Services 11,694$ 5,861$ 5,833$ Alameda Municipal Power (AMP) 67,151 64,313 2,838 78,845$ 70,174$ 8,671$
Revenues by Source - Business-Type Activities
for the years ended June 30, 2021 and 2020
(in thousands)
2021 2020 Difference
Charges for Services 77,982$ 77,947$ 35$ Investment Earnings/Rents 442 2,952 (2,510) Miscellaneous Revenues 422 514 (92)
Transfer (4,512) (4,557) 45
74,334$ 76,856$ (2,522)$
13 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021
Financial Analysis of Governmental Funds
As noted earlier, the City of Alameda uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City of Alameda’s financing requirements. In particular, the unassigned fund balance may serve as a useful measure of a government’s net resources available for discretionary use as it represents the portion of fund balance not yet limited to us e for a particular purpose by either an external party, the City itself, or an entity that has been delegated authority by the City Council to assign resources for use at the end of the fiscal year.

As of June 30, 2021, the City’s governmental funds reported combined ending fund balances of $202.8 million. Approximately $56.6 million, or 27.9%, of the combined ending fund balance constitutes unassigned fund balance , which is available for spending at the government’s discretion. The remaining balance is either nonspendable, restricted, committed or assigned to indicate that it is:
1) not in spendable form ($2.1 million) as it has been committed to liquidate contracts and purchase orders from the prior fiscal period, pay debt service, or fund future needs; 2)
restricted for particular purposes ($113.1 million);
3) committed for particular purposes ($14.1 million); or 4) assigned for particular purposes ($16.8 million).

The following are the major funds that either qualified under the reporting criteria or were considered to be important to financial statement users:

General Fund
The General Fund is the chief operating fund of the City. As of June 30, 2021, unassigned fund balance of the General Fund wa s $56.6 million; the remain ing fund balance, including nonspendable, restricted and committed resources, was $16.5 million. As a measure of the General Fund’s liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance represents 58.9% of total General Fund expenditures and transfers out.

General Fund revenues increased $8.6 million, or 8.1%, from the prior fiscal year to $115.1 million in FY 2020-21. Property tax revenues for the fisca l year were $49.3 million, an increase of $3.6 million or 7.8% over the prior year. This increase is primarily due to the rise in median home sale prices in the City of Alameda, new housing developments, and the receipt of residual property tax distributions as a result of redevelopment diss olution. Real property transfer tax increased $3.3 million or 22.0% compared to the prior year due mainly to an in crease in home sales in an appreciating home value market.

Other local taxes and Sales tax, the third and fourth largest revenue sources, respectively, for the City’s General Fund, increased by $2.4 million, or 17.9%, over the prior year for a combined total of $27.0 million. This was a result of a strong recovery after the onset of the pandemic in the prior fiscal year.
14 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021
General Fund expenditures totaled $86.0 million for FY 2020-21 compared to $84.3 million in the prior fiscal year. This amount excludes encumbrances outstanding at year end. The increase of $1.7 million, or 2.0%, was mostly attributed to an increase in costs related to Fire protection in the City.

Transfers out for FY 2020-21 were $18.0 million compared to $13.2 million in the prior year. This increase of $4.8 million was due to a one-time transfer of $9.0 million to the Pension Stabilization internal service fund to help with pension prepayments.

The fund balance of the City’s General Fund was $73.1 million at June 30, 2021, which is a $18.4 million, or 33.9%, increase from the prior fiscal year. Revenues and transfers in of $122.4 million were $11.4 million, or 10.2%, higher than FY 201 9-20. Expenditures and transfers out were $103.9 million, which is $6.4 million, or 6.5%, higher than FY 2019-20. These increases are explained above.

The Base Reuse Special Revenue Fund received a $29.5 million transfer from Alameda Point Capital Projects Fund, increasing the Base Reuse Special Revenue Fund ending fund balance to $53.4 million, while decreasing that of Alameda Point to $2.7 million. This transfer was to return proceeds not used for construction costs at Al ameda Point in FY 2020-21. The Alameda Point fund balance is restricted for construction, improvements, maintenance projects, and development activities for current and future capital projects at Alameda Point.

The Capital Improvement Projects Fund has a total fund balance of $3.1 million as of June 30, 2021, all committed for current and future capital projects. The fund incurred expenditures of $20.5 million for capital projects during FY 2020-21, including the following:
 Pavement Management ($2.9 million)
 Seaplane Lagoon Ferry Terminal ($2.4 million)
 Jean Sweeney Park ($1.5 million)
 Urban Forest Management ($1.2 million)
 Pathways Near Fernside Blvd. ($1.1 million)
 Traffic Signals and Systems ($1.0 million)
The HOME Program Special Revenue Fund, which accounts for funds received under the Home Investment Partnerships Program, had $0.6 mill
ion in housing expenditures during FY 2020-21,
up from less than $0.1 million from the previous fiscal year. While total fund balance of the fund stayed constant at approximately zero, revolving loans receivable increased by $0.5 million, or

7.3%, from FY 2019-20.

Financial Analysis of Proprietary Funds
The City of Alameda enterprise funds provide the same type of information found in the government-wide financial statements, but in more detail. During FY 2020-21, there were two enterprise funds, the Sewer Services Fund and the Alameda Municipal Power Fund. 15 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

Internal Service Funds

The City of Alameda maintains ten (10) Internal Service Funds. The following table presents each funds’ net position (deficit) as of June 30, 2021:

The Workers’ Compensation Fund net position deficit reflects future claim liabilities maturing in five to ten years. The current deficit net position decreased by $0.8 million from the prior year, when changes to the confidence level of the curr ent claims liabilities rose by 10% to 70%. The Pension Stabilization Fund net position increased by $10.5 million from the prior fiscal year as prepayments of $9.0 million were made to trus t funds dedicated to pension reduction from FY 2019-20 General Fund surplus. More information can be found in Note 9 (Pension Plans) of this report.

General Fund Budgetary Highlights

In comparing the FY 2020-21 original budget to the final budget, there was a $4.8 million increase, from $99.9 million to $104.7 million, made to revenues and transfers in. The increase was primarily due to increased tax revenues. There was an increase of $1.6 million and $2.0 million for property and transfer taxes, respectively, bet ween the original and final budgets. Actual revenues and transfers in for the General Fu nd finished above both original and final budgeted amounts. Total revenues totaled $115.1 mil lion compared to a budgeted final amount of $100.1 million, a full $15.0 million, or 15.0%, increase over the final budget. Large actual over final budget figures included increases in transfer and proper ty taxes, $6.5 million and $3.5 million over projections, respectively.

Net Position/
(Deficit)
Equipment Replacement 11,486$
Central Services 92
Fleet Maintenance 324
Technology Services 7,965
Facilities Replacement and Maintenance 5,705
Workers' Compensation Insurance (2,847)
General Liability Insurance 1,175
Unemployment Insurance 412
OPEB/Vacation 7,825
Pension Stabilization 17,282
Total 49,419$
Internal Service Fund Net Position
for the year ended June 20, 2021
(in thousands)
16 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

During the fiscal year, the total actual revenue and transfers in for the General Fund were $111 million, exceeding projections by $3.1 million, or 3%. The total actual expenditures and transfers out for the General Fund were $98 million. This was $15.3 million, or 14%, less than the final budget.

Revenues exceeded budget primarily due to increased home values resulting in property tax and transfer tax exceeding budget by $2.8 million, combined, and the new Transaction and Use Tax exceeding projections by $1.2 million. Additionally, revenue from charges for services exceeded projections by $0.6 million primarily due to higher than anticipated ambulance billing charges by the Fire Department. Overall, actual expenditures were $13.6 million below appropriations. This is a result of departments staying within a llocated appropriations magnified by personnel vacancies in Police, Finance and Public Works Departments.

The City Council established a 20% reserve policy and a 5% economic contingency reserve policy, measured in proportion to the budgeted expenditures and transfers out. As of June 30, 2021, the General Fund available fund balance was $39.4 million, or 53.9% of the year’s appropriations, excluding the one-time appropria tions for pay down of pension and OPEB unfunded liabilities.

Capital Assets and Debt Administration

Capital Assets - The capital assets of the City are those assets which are used in the performance of the City’s functions. As of June 30, 2021, capital assets, net of accumulated depreciation, of the Governmental Activities totaled $337.0 mil lion. Capital assets, net of accumulated depreciation, of the Business-Type Activities to taled $131.2 million. Depreciation on capital assets is recognized in the government-wide financial statements. Additi onal information about the City’s capital assets can be found in Note 5 of this report.

Long-Term Debt - Long-term debt of Governmental Activiti es decreased in FY 2020-21 by $2.8 million due to the current fiscal year’s princi pal payments. Long-term debt of Business-Type Activities decreased $1.9 million during the y ear as a result of annual debt service payments made. In addition, per capita long-term debt outstanding decreased slightly from $846 to $788 in FY 2020-21. Additional information about the City’s long-term debt activity can be found in Note 6 of this report.

Governmental Business-type
Activities Activities
2021 2020 2021 2020 2021 2020
Land 5,995$ 5,995$ 220$ 220$ 6,215 $ 6,215$ Construction in progress 62,162 46,242 32,778 24,069 94,940 70,311 Buildings and Plants 267,550 267,550 98,721 95,590 366,271 363,140 Machinery and equipment 39,202 37,874 21,592 20,672 60,794 58,546 Infrastructure 283,004 282,970 102,729 102,729 385,733 385,699 Total 657,913$ 640,631$ 256,040$ 243,280$ 913,953$ 883,911$ City of A lameda
Capital Assets, Gross of Depreciation
(in thousands)
Total
17 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021

Economic Outlook and Next Year’s Budget

Following the immediate business disruption and economic impacts from the onset of the COVID- 19 pandemic in the last quarter of FY 2019-20, the City’s major revenue sources outperformed projections in the fiscal year ending June 30, 2021. Although the pandemic continued to impact brick-and-mortar businesses through FY 2020-21, growth in property values coupled with an increase in sales activity resulted in a boost to property tax revenues and transfer tax, and the continuing trend of consumer activity shifting to online transactions resulted in higher-than- expected receipts for sales tax and transaction and use tax.

The City expects growth in property tax revenues to continue at least through FY 2021-22 due to the inflation-driven increase in assessments, the growth in sales prices, and the high rate of sales activity. The rate of growth is expected to slow as interest rates rise and/or sales prices reach a level such that consumer demand decreases and sales prices begin to drop. Although a market correction is expected in the next few years, proper ty tax has historically been a stable revenue source for the City and is expected to remain stable.

The City’s diverse revenue base allowed for minimal pandemic-related service disruptions.

Parking program fees were most directly affect ed by the suspension of parking enforcement in the commercial districts. Enforcement re-commenced in FY 2021-22 and program revenues are expected to recover by the end of FY 2022-23 under a newly reorganized parking program.

Staff does not anticipate that major programming changes will be needed to balance expenditures with revenues in the FY 2021-23 budget cycle. In the long term, the City will continue to evaluate opportunities for new revenue sources and monitor cost changes that exceed revenue growth, particularly for liability insurance, employee health premiums, and pension obligations, in order to ensure that the City can avoid major service level cuts.

Governmental Business-Type
Activities Activities Total
2021 2020 2021 2020 2021 2020
Certificates of Participation 6,150$ 7,045 $ $ $ 6,150 $ 7,045 $ Revenue Bonds 8,600 9,000 32,357 34,160 40,957 43,160
General Obligation Bonds 6,483 6,879 6,483 6,879
HUD Section 108 Loan 4,104 4,567 4,104 4,567
Other Long-Term Debt 6,149 6,821 197 292 6,346 7,113
31,486$ 34,312$ 32,554 $ 34,452$ 64,040$ 68,764$ Long-Term Debt
(in thousands)
18 City of Alameda, California
Management’s Discussion and Analysis
For the Fiscal Year Ended June 30, 2021
Significant Events and Accomplishments
The City is a community dedicated to meeting the social, cultural, and recreational needs of its residents and businesses.
 The new Seaplane Lagoon Ferry Terminal, a $22 million project funded through multiple contributing agencies, developer fees, and grant dollars, opened to the public in July 2021.

The terminal meets many of the priorities of the City Council including preparing Alameda for the future and supporting livability and quality of life.  Providing emergency funds for individuals and families at risk of becoming homeless due to loss of income from the COVID-19 pandemic.

Requests for Information
This Annual Comprehensive Financial Report is intended to provide our residents, taxpayers, customers, investors, and creditors with a general overview of the City of Alameda’s finances.

Questions concerning any of the information prov ided in this report or requests for additional financial information should be directed to the City of Alameda, Finance Department, located at 2263 Santa Clara Avenue, Room 220, Alameda, California 94501 or via email at [email protected]. This report can also be viewed online at the City of Alameda’s website:
www.alamedaca.gov/Departments/Administration/Finance.
19 City of Alameda, California
People and Places in the City

City of Alameda, California
Statement of Net Position
and Statement of Activities
The Statement of Net Position reports the difference between the City’s total assets, deferred outflows of resources, the City’s total liabilities, and deferred inflows of resources, including all the City’s capital assets and all its long- term obligations. The Statement of Net Position summari zes the financial position of all the City’s Governmental Activities in a single column, and the financial position of all the City’s Busine ss-Type Activities in a single column;
these columns are followed by a Total column that presents the financial position of the entire City.

The City’s Governmental Activities include the activities of its General Fund, its Special Revenue, Capital Projects and Debt Service Funds. Since the City’s Internal Service Funds primarily service these Funds, their activities are consolidated with Governmental Activities, after elimin ating inter-fund transactions and balances. The City’s Business-type Activities include all its Enterprise Fund activities.

The Statement of Activities reports increases and decreases in the City’s net position. It presents the City’s expenses first, listed by program, and follows these with the expenses of its business-type activities. Program revenues - that is, revenues which are generated directly by these programs - are then deducted from program expenses to arrive at the net expense of each governmental and business-type progr am. The City’s general revenues are then listed in the Governmental Activities or Business-type Activities, as appropriate, and the Change in Net Position is computed and reconciled with the Statement of Net Position.

Both of these Statements include the financial activities of the City, and the blended component units: the Alameda Public Financing Authority and the City of Alameda Fi nancing Authority, which are legally separate entities and are considered component units of the City because they are controlled by the City, which is financially accountable for the activities of the entities.
21 City of Alameda, California
People and Places in the City

City of Alameda
Statement of Net Position
June 30, 2021
Governmental Business-T ype
Activities Activities Total
ASSETS
Cash and investments 253,114,201 $ 77,482,068 $ 330,596,269$ Restricted cash and investments 13,560,141 5,626,884 19,187,025 Accounts receivable, net 20,194,077 8,705,321 28,899,398 Interest receivable 53,694 53,694
Loans receivable 10,800,895 10,800,895
Materials, parts and supplies 4,959,143 4,959,143
Prepaids and deposits 1,455,472 95,412 1,550,884
Internal balances 2,314,893 (2,314,893)
Share of certain NCPA projects and reserve 11,408,433 11,408,433 Investments designated for special purposes 38,328,139 38,328,139 Capital assets:

Non-depreciable 68,157,551 32,998,582 101,156,133
Depreciable, net of accumulated depreciation 268,873,818 98,188,299 367,062,117 Total Assets 638,471,048 275,531,082 914,002,130

DEFERRED OUTFLOWS OF RESOURCES
Deferred amount on refunding 438,494 438,494
Related to pensions 38,414,650 3,777,016 42,191,666
Related to OPEB 14,779,724 201,894 14,981,618
Total Deferred Outflows of Resources 53,194,374 4,417,404 57,611,778

LIABILITIES
Accounts payable 6,458,551 2,644,995 9,103,546
Accrued payroll 2,464,863 42,540 2,507,403
Interest payable 252,388 721,433 973,821
Unearned revenue 16,755,385 16,755,385
Refundable deposits 2,495,791 7,417,149 9,912,940
Due to other agencies 35,768 35,768
Claims payable:

Due within one year 6,472,654 195,000 6,667,654
Due in more than one year 13,574,027 933,428 14,507,455 Compensated absences:

Due within one year 4,195,320 695,066 4,890,386
Long-term liabilities due in more than one year:

Net pension liability 247,522,785 29,853,622 277,376,407 Total pension liability 6,320,535 6,320,535
Net OPEB liability 112,364,678 2,151,008 114,515,686
Long-term debt:

Due within one year 3,037,967 1,982,154 5,020,121
Due in more than one year 28,448,184 30,571,281 59,019,465 Total Liabilities 450,398,896 77,207,676 527,606,572

DEFERRED INFLOWS OF RESOURCES
Purchased power balancing account 34,030,745 34,030,745 Related to pensions 1,072,489 327,344 1,399,833
Related to OPEB 13,599,766 9,311 13,609,077
Total Deferred Inflows of Resources 14,672,255 34,367,400 49,039,655 NET POSITION:

Net investment in capital assets 306,331,058 110,041,879 416,372,937 Restricted for:

Capital projects 28,477,348 28,477,348
Debt service 1,769,999 5,626,884 7,396,883
Housing 67,448,601 67,448,601
Public safety 2,809,046 2,809,046
Community development 2,672,940 2,672,940
Maintenance assessment districts 9,674,224 9,674,224
Transportation 12,592,340 12,592,340
Tidelands properties 2,269,117 2,269,117
Waste reduction 3,107,768 3,107,768
Community services 6,575,156 6,575,156
Sewer system replacement 15,324,139 15,324,139
Total Restricted Net Position 137,396,539 20,951,023 158,347,562 Unrestricted (217,133,326) 37,380,508 (179,752,818)
Total Net Position 226,594,271$ 168,373,410$ 394,967,681$ See accompanying notes to financial statements.

Primary Government
23 City of Alameda
Statement of Activities
For the Year Ended June 30, 2021
Program Revenues
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Primary Government:

Governmental Activities:

General government 16,170,435$ 3,692,675$ 1,303,331$ -$ Police 42,073,074 816,240 618,250 45,102
Fire 46,814,248 4,457,369 946,627
Public works 23,595,750 11,023,739 2,309,939 24,945,680 Community development 18,115,605 12,037,359 65,000 315,233 Community services 11,359,765 4,308,651 2,030,655 117,570 Housing 4,941,615 3,498,028
Interest on long-term debt 801,228
Total Governmental Activities 163,871,720 36,336,033 10,771,830 25,423,585 Business-type Activities:

Sewer services 5,861,001 11,721,286
Alameda municipal power 64,313,277 66,260,963
Total Business-type Activities 70,174,278 77,982,249
Total Primary Government 234,045,998$ 114,318,282$ 10,771,830$ 25,423,585$ General revenues:

Taxes:

Property taxes
Sales taxes
Utilit
y users tax
Transfer taxes
Franchise taxes
Transient occu
pancy taxes
Property tax in-lieu
Other taxes
Gain from sale of capital assets
Use of money and property
Miscellaneous
Transfers
Total general revenues and transfers
Change in Net Position
Beginning Net Position
Ending Net Position
See accompanying notes to financial statements.
24 Net (Expense) Revenue and
Changes in Net Position
Primary Government
Governmental Business-t ype
Activities Activities Total
(11,174,429)$ -$ (11,174,429)$
(40,593,482) (40,593,482)
(41,410,252) (41,410,252)
14,683,608 14,683,608
(5,698,013) (5,698,013)
(4,902,889) (4,902,889)
(1,443,587) (1,443,587)
(801,228) (801,228)
(91,340,272) (91,340,272)
5,860,285 5,860,285
1,947,686 1,947,686
7,807,971 7,807,971
(91,340,272) 7,807,971 (83,532,301)
63,421,779 63,421,779
19,439,879 19,439,879
9,091,389 9,091,389
18,536,929 18,536,929
2,706,949 2,706,949
1,996,230 1,996,230
1,362,667 1,362,667
789,190 789,190
5,774,634 441,610 6,216,244
664,514 421,950 1,086,464
4,511,900 (4,511,900)
128,296,060 (3,648,340) 124,647,720
36,955,788 4,159,631 41,115,419
189,638,483 164,213,779 353,852,262
226,594,271$ 168,373,410$ 394,967,681$
25 City of Alameda, California
People and Places in the City

City of Alameda, California
Fund Financial Statements
Major Governmental Funds
The funds described below were determined to be major fu nds of the City of Alameda in Fiscal Year 2020-21.

Individual-non-major funds may be found in the Supplemental Information section.

General Fund
The General Fund accounts for al l general revenues of the City not specifi cally levied or collected by other City

funds, and related expenditures. The Ge neral Fund also accounts for all fina ncial resources of the City which are not accounted for in another fund.

HOME Program Special Revenue Fund
This fund accounts for funds received under the Home Investment Partnerships Program (HOME) designed to create affordable housing for low-income households.

Base Reuse
This fund accounts for the revenues from leasing activities revenues and grants. Expe nditures are made for base reuse activities.

Capital Improvement Projects Fund
This fund accounts for monies for majo r capital improvement projects not provi ded for in a separate and specific capital project fund.

Alameda Point
This fund accounts for revenues and expenditures related to construction, improvemen ts and capital maintenance projects within Alameda Point.
27 City of Alameda
Governmental Funds
Balance Sheet
June 30, 2021
HOME Pro
gram Base Reuse
General S pecial Revenue S pecial Revenue
Cash and investments 60,366,918 $ 961 $ 55,094,155$ Restricted cash and investments 6,000
Accounts receivable 14,681,534 530,782 2,170,117
Prepaids and deposits 40,832
Due from other funds 2,799,635
Loans receivable 7,007,360
Advances to other funds 896,713
Total Assets 78,791,632$ 7,539,103$ 57,264,272$ Accounts payable 1,491,492$ 46,857$ 522,246$
Accrued payroll 1,623,730 46,110
Accrued interest
Due to other funds 484,742
Due to other agencies 11,574
Unearned revenue 1,462,429
Refundable deposits 845,925 1,116,113
Advances from other funds 280,887
Total Liabilities 5,716,037 531,599 1,684,469
Unavailable revenue - accounts receivable 2,170,117
Unavailable revenue - revolving loans receivable 7,007,360 Total Deferred Inflows of Resources 7,007,360 2,170,117 Nonspendable 937,545
Restricted 144 53,409,686
Committed
Assigned 15,544,000
Unassigned 56,594,050
Total Fund Balances 73,075,595 144 53,409,686
Total Liabilities, Deferred Inflows of Resources and Fund Balances 78,791,632$ 7,539,103 $ 57,264,272 $ See accompanying notes to financial statements.

ASSETS

LIABILITIES
FUND BALANCES:

DEFERRED INFLOWS OF RESOURCES
28 Capital Alameda Other Total
Improvement Point Governmental Governmental
Projects Ca pital Projects Funds Funds
15,452,288$ 2,677,368$ 70,036,161$ 203,627,851$ 606,471 1,455,337 2,067,808
1,468,634 3,805,657 22,656,724
1,191,999 8,534 1,241,365
2,799,635
3,793,535 10,800,895
896,713
18,719,392$ 2,677,368$ 79,099,224$ 244,090,991$ 943,809$ 5,133$ 1,554,392$ 4,563,929$ 134,173 572,287 2,376,300
3,322 3,322
484,742
2,855 21,339 35,768
14,455,828 837,128 16,755,385
38,246 476,528 2,476,812
896,713 1,177,600
15,574,911 5,133 4,361,709 27,873,858
430,401 2,600,518
3,793,535 10,800,895
4,223,936 13,401,413
1,191,999 8,534 2,138,078
606,471 2,672,235 56,399,376 113,087,912
14,105,669 14,105,669
1,346,011 16,890,011
56,594,050
3,144,481 2,672,235 70,513,579 202,815,720
18,719,392$ 2,677,368$ 79,099,224$ 244,090,991$ 29 City of Alameda, California
People and Places in the City

City of Alameda
Reconciliation of
Governmental Funds Balance Sheet
with the Statement of Net Position
June 30, 2021
Total fund balances re
ported on the governmental funds balance sheet 202,815,720$ Amounts reported for Governmental Activities in the Statement of Net Position are different from those reported in the Governmental Funds above because of the following:

CAPITAL ASSETS
Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not reported in the Governmental Funds.

Land 5,995,318$
Construction in Progress 60,585,734
Buildings 267,550,122
Machinery and equipment 24,028,786
Infrastructure 283,003,747
Less Accumulated Depreciation (311,216,389)
329,947,318

ALLOCATION OF INTERNAL SERVICE FUND POSITION ASSETS
Internal service funds are not governmental funds. However, they are used by management to charge the costs of certain activities, such as insurance, central services and maintenance to individual governmental funds. The net current assets of the Internal Service Funds are therefore included in Governmental Activities in the following line items in the Statement of Net Position.

Net Position - All Internal Service Funds 49,418,730

ACCRUAL OF NON-CURRENT REVENUES AND EXPENSES
Revenues that are unavailable on the Fund Balance Sheets because they are not available currently are taken into revenue in the Statement of Activities. 10,800,895

LONG-TERM ASSETS, LIABILITIES AND DEFERRED OUTFLOWS/INFLOWS OF RESOURCES The assets and liabilities below are not due and payable in the current period and therefore are not reported in the Funds:

Long-term debt (29,306,089)
Interest payable (201,104)
Compensated absences (4,195,320)
(33,702,513)
Net pension liability (247,522,785)
Deferred outflows of resources related to pension 33,414,650 Deferred inflows of resources related to pension (1,072,489) (215,180,624)
Total pension liability (6,320,535)
Net OPEB liability (112,364,678)
Deferred outflows of resources related to OPEB 14,779,724 Deferred inflows of resources related to OPEB (13,599,766) (111,184,720)
NET POSITION OF GOVERNMENTAL ACTIVITIES 226,594,271$
See accompanying notes to financial statements.
31 City of Alameda
Governmental Funds
Statement of Revenues, Expenditures
and Changes in Fund Balances
For the Year Ended June 30, 2021
HOME Program Base Reuse
General S pecial Revenue S pecial Revenue

REVENUES
Property taxes 49,310,946$ -$ -$
Sales taxes 10,695,541
Transfer taxes 18,536,929
Utility user taxes 9,091,389
Other local taxes 16,314,309
Licenses and permits 2,253,884
Developer fees
Revenues from other agencies 2,465,847 530,782 65,000
Charges for current services 4,396,888
Fines and forfeitures 670,398
Use of money and property 1,300,123 36,869 13,647,447
Other revenues 35,033 138,324
Total Revenues 115,071,287 567,651 13,850,771

EXPENDITURES
Current:

General government 8,964,021
Police 34,272,471
Fire 36,459,313
Public works 2,330,924
Community development 9,494,970
Community services 3,608,347
Housing 567,548
Capital outlay 111,213
Debt service:

Principal 221,506
Interest 9,765
Total Expenditures 85,977,560 567,548 9,494,970

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 29,093,727 103 4,355,801

OTHER FINANCING SOURCES (USES)
Transfers in 7,304,979 29,454,180
Transfers (out) (17,969,075) (715,000)
Total Other Financing Sources (Uses) (10,664,096) 28,739,180 NET CHANGE IN FUND BALANCES 18,429,631 103 33,094,981
BEGINNING FUND BALANCES (DEFICITS) 54,645,964 41 20,314,705 ENDING FUND BALANCES (DEFICITS) 73,075,595$ 144 $ 53,409,686$ See accompanying notes to financial statements.
32 Capital Other Total
Improvement Alameda Governmental Governmental
Projects Point Funds Funds
-$ -$ 14,110,833$ 63,421,779 $
10,695,541
18,536,929
9,091,389
223,696 16,538,005
195,822 4,587,179 7,036,885
8,377,385 8,377,385
10,513,664 14,797,883 28,373,176
3,817,909 4,833,088 13,047,885
211,806 882,204
20,166 381,932 1,542,012 16,928,549
92,080 1,787,278 2,052,715
14,639,641 381,932 50,471,160 194,982,442
7,301,940 16,265,961
132,342 34,404,813
1,693,786 38,153,099
4,629,585 6,960,509
7,499,670 16,994,640
5,445,409 9,053,756
4,824,505 5,392,053
20,469,058 303,988 4,990,423 25,874,682
2,269,168 2,490,674
775,046 784,811
20,469,058 303,988 39,561,874 156,374,998
(5,829,417) 77,944 10,909,286 38,607,444
11,157,941 9,525,438 57,442,538
(3,883,026) (29,454,180) (10,958,404) (62,979,685)
7,274,915 (29,454,180) (1,432,966) (5,537,147)
1,445,498 (29,376,236) 9,476,320 33,070,297
1,698,983 32,048,471 61,037,259 169,745,423
3,144,481$ 2,672,235 $ 70,513,579 $ 202,815,720 $ 33 City of Alameda
Reconciliation of the
Net Change in Fund Balances - Governmental Funds
with the Change in Governmental Net Position
For the Year Ended June 30, 2021
The schedule below reconciles the Net Changes in Fund Balances reported on the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance, which measures only changes in current assets and current liabilities on the modified accrual basis, with the Change in Net Position of Governmental Activities reported in the Statement of Activities, which is prepared on the full accrual basis.

NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS 33,070,297$ Amounts reported for governmental activities in the Statement of Activities are different because of the followin g:

CAPITAL ASSETS TRANSACTIONS
Capital outlay therefore added back to fund balance 25,874,682 Non-capitalized capital outlay expenditures were re-classified to various governmental activities (10,492,973) Retirements are deducted from fund balance (125,839)
Depreciation expense is deducted from fund balance (10,621,285) (Depreciation expense is net of internal service fund depreciation of $1,163,479 which has already been allocated to service funds)

LONG-TERM DEBT ISSUANCE AND PAYMENTS
Bond proceeds provide current financial resources to governmental funds, but issuing debt increases lon g-term liabilities in the Statement of Net Position. Repayment of bond principal is an expenditure in the governmental funds, but in the Statement of Net Position the repayment reduces long-term liabilities.

Repayment of debt principal is added back to fund balance 2,490,674 Amortization of bond premium is added back to fund balance 30,986

ACCRUAL OF NON-CURRENT ITEMS
Unavailable revenue 217,283
Interest payable 17,982
Net pension liability, and related deferred outflows/ inflows of resources (13,768,722) Total pension liability (612,764)
Net OPEB liability, and related deferred outflows/ inflows of resources (3,619,324) Compensated absences (94,903)

ALLOCATION OF INTERNAL SERVICE FUND ACTIVITY
Internal Service Funds are used by management to charge the costs of certain activities, such as equipment acquisition, equipment, maintenance, and insurance to individual funds. The portion of the net revenue (expense) of these Internal Service Funds arising from their transactions with governmental funds is reported with governmental activities, because they service those activities.

Change in Net Position - All Internal Service Funds 14,589,694 CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES 36,955,788$ See accompanying notes to financial statements.

Governmental Funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is capitalized and allocated over their estimated useful lives and reported as depreciation expense.

The amounts below included in the Statement of Activities do not provide or (require) the use of current financial resources and therefore are not reported as revenue or expenditures in governmental funds (net change):
34 City of Alameda
General Fund
Statement of Revenues, Expenditures
and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2021
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual (Negative)
REVENUES:

Property taxes 44,160,000$ 45,820,000$ 49,310,946$ 3,490,946$ Sales taxes 9,600,000 9,000,000 10,695,541 1,695,541
Transfer taxes 10,000,000 12,000,000 18,536,929 6,536,929 Utility user taxes 9,047,000 8,447,000 9,091,389 644,389 Other local taxes 11,774,100 13,674,100 16,314,309 2,640,209 Licenses and permits 2,411,400 2,411,400 2,253,884 (157,516) Revenues from other agencies 522,200 2,068,770 2,465,847 397,077 Charges for current services 5,331,500 4,127,500 4,396,888 269,388 Fines and forfeitures 780,100 780,100 670,398 (109,702) Use of money and property 1,746,300 1,746,300 1,300,123 (446,177) Other revenue 4,400 4,400 35,033 30,633
Total Revenues 95,377,000 100,079,570 115,071,287 14,991,717 EXPENDITURES:

Current:

General government 10,570,333 17,361,939 8,964,021 8,397,918 Police 36,941,475 36,941,475 34,272,471 2,669,004
Fire 37,925,654 38,256,234 36,459,313 1,796,921
Public works 2,515,263 2,651,263 2,330,924 320,339
Community Services 4,090,908 4,105,908 3,608,347 497,561 Capital outlay 167,673 138,480 111,213 27,267
Debt service:

Principal 267,000 267,000 221,506 45,494
Interest 10,000 10,000 9,765 235
Total Expenditures 92,488,306 99,732,299 85,977,560 13,754,739 EXCESS OF REVENUES OVER EXPENDITURES 2,888,694 347,271 29,093,727 28,746,456

OTHER FINANCING SOURCES (USES)
Transfers in 4,534,000 4,654,000 7,304,979 2,650,979
Transfers (out) (9,431,768) (20,342,134) (17,969,075) 2,373,059 Total other financing sources (uses) (4,897,768) (15,688,134) (10,664,096) 5,024,038 NET CHANGE IN FUND BALANCE (2,009,074)$ (15,340,863) $ 18,429,631 33,770,494 $ Beginning fund balance 54,645,964
Ending fund balance 73,075,595$
See accompanying notes to financial statements.
35 City of Alameda
HOME Program
Special Revenue Fund
Statement of Revenues, Expenditures
and Changes in Fund Balance
Budget and Actual
For the Year Ended June 30, 2021
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual (Negative)
REVENUES:

Revenue from other agencies 247,704$ 531,704$ 530,782$ (922)$ Use of money and property 13,000 37,000 36,869 (131)
Total Revenues 260,704 568,704 567,651 (1,053)
EXPENDITURES:

Current:

Housing 260,704 578,704 567,548 11,156
Total Expenditures 260,704 578,704 567,548 11,156
NET CHANGE IN FUND BALANCE -$ (10,000)$ 103 10,103$ Beginning fund balance 41
Ending fund balance 144$
See accompanying notes to financial statements.
36 City of Alameda, California
Proprietary Funds
Proprietary funds account for City ope rations financed and operated in a ma nner similar to a private business enterprise. The City’s intent is that the cost of providing goods and services within these funds be financed primarily through user charges.

The concept of major funds extends to Enterprise Funds. The City’s only enterprise funds are m ajor funds in Fiscal
Year 2020-21:

Sewer Services Fund
The City operates its own wastewater system. This fund accounts for all financial tr ansactions relating to this municipal activity including, but not limited to, operations, maintenance, capital financing and related debt service, billing and collection.

Alameda Municipal Power Fund
The City operates its own electric system. This fund accounts for all financial transactions related to this municipal activity including but not limited to, operations, maintenance, capital financing and related debt service, billing and collection.
37 City of Alameda
Proprietary Funds
Statement of Net Position
June 30, 2021
Business-Type Activities Governmental
Alameda Total Activities-
Sewer Municipal Enter prise Internal Service
Services Powe r Funds Funds
ASSETS
Current Assets
Cash and cash equivalents 18,334,462$ 31,120,246$ 49,454,708$ 49,486,350$ Investments 28,027,360 28,027,360
Accounts receivable, net 623,319 8,082,002 8,705,321 137,871 Interest receivable 53,694 53,694
Due from other funds
Materials and supplies 4,959,143 4,959,143
Prepaids and deposits 95,412 95,412 214,107
Total Current Assets 18,957,781 72,337,857 91,295,638 49,838,328 Noncurrent Assets
Restricted investments 820,236 4,806,648 5,626,884 11,492,333 Share of certain NCPA projects and reserve 11,408,433 11,408,433 Investments designated for special purposes 38,328,139 38,328,139 Advances to other funds 280,887
Capital assets:

Non-depreciable 29,770,765 3,227,817 32,998,582 1,576,499 Depreciable, net of accumulated depreciation 65,447,288 32,741,011 98,188,299 5,507,552 Total Noncurrent Assets 96,038,289 90,512,048 186,550,337 18,857,271 Total Assets 114,996,070 162,849,905 277,845,975 68,695,599

DEFERRED OUTFLOWS OF RESOURCES
Deferred amount on refunding 438,494 438,494
Related to pensions 323,744 3,453,272 3,777,016 5,000,000 Related to OPEB 36,953 164,941 201,894
Total Deferred Outflows of Resources 360,697 4,056,707 4,417,404 5,000,000

LIABILITIES
Current Liabilities:

Accounts payable 733,330 1,911,665 2,644,995 1,894,622
Due to other funds 2,314,893 2,314,893
Accrued payroll and other liabilities 42,540 42,540 88,563 Interest payable 152,681 568,752 721,433 47,962
Unearned revenue
Refundable deposits 6,079 7,411,070 7,417,149 18,979
Compensated absences 74,785 620,281 695,066
Claims payable 195,000 195,000 6,472,654
Long-term debt - current 497,154 1,485,000 1,982,154 313,305 Total Current Liabilities 1,506,569 14,506,661 16,013,230 8,836,085 Noncurrent Liabilities:

Claims payable 933,428 933,428 13,574,027
Net pension liability 2,558,882 27,294,740 29,853,622
Net OPEB liability 396,280 1,754,728 2,151,008
Long-term debt 12,011,281 18,560,000 30,571,281 1,866,757 Total Noncurrent Liabilities 14,966,443 48,542,896 63,509,339 15,440,784 Total Liabilities 16,473,012 63,049,557 79,522,569 24,276,869

DEFERRED INFLOWS OF RESOURCES
Purchased power balancing account 34,030,745 34,030,745 Related to pensions 28,058 299,286 327,344
Related to OPEB 1,704 7,607 9,311
Total Deferred Inflows of Resources 29,762 34,337,638 34,367,400 NET POSITION:

Net investment in capital assets 82,709,618 27,332,261 110,041,879 3,327,490 Restricted
Debt service 820,236 4,806,648 5,626,884
Sewer system replacement 15,324,139 15,324,139
Unrestricted 37,380,508 37,380,508 46,091,240
Total Net Position 98,853,993$ 69,519,417$ 168,373,410$ 49,418,730$ See accompanying notes to financial statements.
38 City of Alameda
Proprietary Funds
Statement of Revenues, Expenses
and Changes in Fund Net Position
For the Year Ended June 30, 2021
Business-T
ype Activities Governmental
Alameda Total Activities-
Sewer Munici pal Enter prise Internal Service
Services Power Funds Funds

OPERATING REVENUES
Charges for services 11,721,286$ 66,260,963$ 77,982,249$ 11,947,348$ Greenhouse gas related sales
Miscellaneous 251 284,931 285,182 9,645,059
Total Operating Revenues 11,721,537 66,545,894 78,267,431 21,592,407

OPERATING EXPENSES
General administrative 588,487 8,158,825 8,747,312 1,406,769 Operations and maintenance 42,426,704 42,426,704
Wages and benefits 1,369,066 1,369,066 3,390,419
Insurance and claims 7,791,107
Contractual services 126,905 126,905 3,594,594
Depreciation and amortization 1,678,892 4,201,963 5,880,855 1,163,479 Utilities 134,425 134,425
Supplies and maintenance 818,353 818,353 1,206,551
Balancing account adjustment 6,680,252 6,680,252
Total Operating Expenses 4,716,128 61,467,744 66,183,872 18,552,919 Operating Income (Loss) 7,005,409 5,078,150 12,083,559 3,039,488

NONOPERATING REVENUES (EXPENSES)
Interest income (27,012) 468,394 441,382 1,566,544
Interest income on restricted investments 228 228
Interest (expense) (373,873) (1,199,156) (1,573,029) (65,385) Payment in-lieu of taxes (771,000) (1,535,000) (2,306,000) Miscellaneous non-operating revenue 136,768 136,768
Miscellaneous non-operating expense (70,159) (70,159)
Gain (loss) from sale of capital assets (41,218) (41,218) Total Nonoperating Revenues (Expenses) (1,171,885) (2,240,143) (3,412,028) 1,501,159 Income (Loss) Before Transfers 5,833,524 2,838,007 8,671,531 4,540,647 Transfers in 10,049,047
Transfers (out) (499,900) (4,012,000) (4,511,900)
Change in net position 5,333,624 (1,173,993) 4,159,631 14,589,694 BEGINNING NET POSITION 93,520,369 70,693,410 164,213,779 34,829,036 ENDING NET POSITION 98,853,993$ 69,519,417 $ 168,373,410$ 49,418,730$ See accompanying notes to financial statements.
39 City of Alameda
Proprietary Funds
Statement of Cash Flows
For the Year Ended June 30, 2021
Business-Type Activities Governmental
Alameda Total Activities-
Sewer Municipal Enter prise Internal Service
Services Powe r Funds Funds

CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers 11,743,380$ 61,568,287$ 73,311,667$ 21,448,238$ Receipts from Special Sales (C&T and REC) 4,360,028 4,360,028 Payments to suppliers (2,054,679) (33,028,939) (35,083,618) (8,316,617) Payments to employees (1,998,358) (15,971,671) (17,970,029) (9,858,344) Insurance and claims paid (4,760,945)
Net Cash Provided by (Used for) Operating Activities 7,690,343 16,927,705 24,618,048 (1,487,668)

CASH FLOWS FROM NON-CAPITAL

FINANCING ACTIVITIES
Payment in-lieu of taxes (771,000) (1,535,000) (2,306,000) Interfund receipts 44,612
Transfers in 10,049,047
Transfers (out) (499,900) (4,012,000) (4,511,900)
Cash Flows from Noncapital Financing Activities (1,270,900) (5,547,000) (6,817,900) 10,093,659

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Acquisition of capital assets (11,234,975) (2,944,914) (14,179,889) (3,913,804) Principal payments on capital debt (484,691) (1,410,000) (1,894,691) (304,450) Interest paid (384,448) (1,236,470) (1,620,918)
Cash Flows from Capital and Related Financing Activities (12,104,114) (5,591,384) (17,695,498) (4,218,254)

CASH FLOWS FROM INVESTING ACTIVITIES
Sales (purchases) of restricted investments (242) (29,363) (29,605) (5,440,877) Sales (purchases) of unrestricted investments (3,292,185) (3,292,185) Sales (purchases) of investments reserved for special purposes 326,479 326,479 Investment in certain NCPA projects and reserves (774,366) (774,366) Interest income (27,012) 630,426 603,414 1,501,159
Cash Flows from Investing Activities (27,254) (3,139,009) (3,166,263) (3,939,718) Net Cash Flows (5,711,925) 2,650,312 (3,061,613) 448,019 Cash and cash equivalents at beginning of period 24,046,387 28,469,934 52,516,321 49,038,331 Cash and cash equivalents at end of period 18,334,462$ 31,120,246 $ 49,454,708 $ 49,486,350 $ Reconciliation of Operating Income (Loss) to Cash Flows from Operating Activities:

Operating income (loss) 7,005,409$ 5,078,150 $ 12,083,559 $ 3,039,488 $ Adjustments to reconcile operating income to cash flows from operating activities:

Depreciation and amortization 1,678,892 4,201,963 5,880,855 1,163,479 Pension related amounts (31,477) (190,607) (222,084) (5,000,000) OPEB related amounts 7,510 33,202 40,712
Change in assets and liabilities:
(Increase) decrease in accounts receivable and refundable deposits 21,843 (617,579) (595,736) (163,148) (Increase) decrease in materials and supplies (1,564,502) (1,564,502) (Increase) decrease in prepaids (1,924) (1,924) 195,546 Increase (decrease) in accounts payable (974,996) 2,701,985 1,726,989 Increase (decrease) in balancing account 6,680,252 6,680,252 Increase (decrease) in refundable deposits 1,349,274 1,349,274 18,979 Increase (decrease) in claims payable (769,807) (769,807) (754,521) Increase (decrease) in accrued payroll and others (125) (125) 12,509 Increase (decrease) in compensated absences (16,713) (34,352) (51,065) Miscellaneous payments and receipts 61,650 61,650
Cash Flows from Operating Activities 7,690,343$ 16,927,705$ 24,618,048$ (1,487,668)$ Non Cash Transactions:

Retirement of capital assets -$ (1,117,648)$ (1,117,648)$ -$ Amortization of loss on refunding -$ 61,650$ 61,650$ -$ See accompanying notes to financial statements.
40 City of Alameda, California

Fiduciary Funds

Fiduciary funds are used to account for assets held by the City as a tr ustee agent for individuals, private organizations, and other governments. The financial activities of these funds are excluded from the Government- wide Financial Statements, but are presented in separate Fiduciary Fund Financial Statements.

Successor Agency Private-Purpose Trust Fund is used to account for the activities of the Successor Agency to the former Community Improvement Commission of the City of Alameda.

Custodial Funds report resources, not in a trust, that are held by the City for other parties outside of the City’s reporting entity.

41 City of Alameda
Fiduciary Funds
Statement of Fiduciary Net Position
June 30, 2021
Custodial
Successor Agency Fund
Private-Purpose Assessment
Trust Fund Districts
ASSETS
Cash and investments 9,279,135 $ 1,515,531$
Restricted cash and investments 27 1,447,539
Accounts receivable 168,289 2,745
Interest receivable 14
Loans receivable 1,197,679
Total Assets 10,645,130 2,965,829

DEFERRED OUTFLOWS OF RESOURCES
Deferred amount on refunding 3,213,190

LIABILITIES
Accounts payable 298 1,573
Interest payable 696,978 242,148
Due to other governments 26,567
Long term debt:

Due within one year 2,405,000
Due in more than one year 48,357,729
Total Liabilities 51,486,572 243,721

NET POSITION
Restricted for:

Assessment District 2,722,108
Held in trust for private purposes (37,628,252)
Total Net Position (Deficit) (37,628,252)$ 2,722,108$ See accompanying notes to financial statements.
42 City of Alameda
Fiduciary Funds
Statement of Changes in Fiduciary Net Position
For the Year Ended June 30, 2021
Custodial
Successor Agency Fund
Private-Purpose Assessment
Trust Fund Districts

ADDITIONS
Property taxes 12,438,992$ 946,823$
Use of money and property 70,872 (12,021)
Other 100
Total Additions 12,509,964 934,802

DEDUCTIONS
Administration 86,583 16,892
Contractual services 7,133,506 182,442
Debt service:

Interest and fiscal charges 2,177,213 776,724
Total Deductions 9,397,302 976,058
CHANGE IN NET POSITION 3,112,662 (41,256)

NET POSITION (DEFICIT), BEGINNING
OF YEAR, AS RESTATED (Note 8D) (40,740,914) 2,763,364
NET POSITION (DEFICIT), END OF YEAR (37,628,252)$ 2,722,108$ See accompanying notes to financial statements.
43 City of Alameda, California
People and Places in the City

City of Alameda, California
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

1. Summary of Significant Accounting Policies ..................................................................................................... 47

2. Cash, Cash Equivale nts, and Investments .......................................................................................................... 58

3. Interfund Tr ansactions ........................................................................................................................................ 69

4. Housing Rehabilitation and Affordable Housing Lo ans Receivable ............................................................... 70

5. Capital Assets ...................................................................................................................................................... 71

6. Long-Term Debt ................................................................................................................................................. 73

7. Special Assessment Debt Without City’s Commitment ..................................................................................... 80

8. Net Position and Fund Balances ............................................................................................. ............................ 81

9. Pension Plans .............................................................................................................. ........................................ 83

10. Post-Employment Hea lth Care Benefits ............................................................................................................. 93

11. Risk Ma nagement ............................................................................................................................................. 101

12. Alameda Municipal Po wer Joint Ventures ....................................................................................................... 104

13. Commitments and Continge ncies ..................................................................................................................... 110

14. Redevelopment Agency Dissoluti on and Successor Agency Activities .......................................................... 113 45 City of Alameda, California
People and Places in the City

City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 1 – Summary of Significant Accounting Policies
The City of Alameda, California, oc cupies the island of Alameda situat ed in the San Francisco Bay. The City operates under the Council-Manager form of government and provides the following services: public safety (police and fire); streets and related improve ments; development servic es; public improvements; planning and zoning, community services (parks, recr eation and library), sewer services, electricity, and general administration services.

A. Reporting Entity
The City of Alameda is a charter city and is gover ned by a five-member City Council elected by City residents. The City is legally separate and fiscally independent, which means it can issue debt, adopt and modify budgets and fees, and sue or be sued. These financial statemen ts present the government and its component units, entities for which the government is considered to be financially accountable. Blended component units, although legally separate entities are, in substance, part of the government’s operations, thus, data from these units are combined with that of the primary government.

Primary Government
The financial statements of the prim ary government of the City of Al ameda include the activities of the City, as well as its blended component units, which are controlled by and dependent upon the City. While these blended component units are separate legal entities, their financial activities are integral to those of the City. Their financial activities have been aggregated and merged (termed “blending”) with those of the primary government of the City in the accompanying financial statements.

Blended Component Units
The Alameda Public Financing Authority (APFA) is a separate government entity whose purpose is to assist with the financing or refinancing of certain pu blic capital facilities within the City. APFA has the power to purchase bonds issued by any local agency at a public or negotiated sale and may sell such bonds to public or private purchasers at a public or negotia ted sale. APFA is controlled by the City and has the same governing body as the City, which also perfo rms all accounting and administrative functions for APFA. The financial activities of APFA are included in the City’s financial statements. The APFA does not issue separate financial statements.

The City of Alameda Financing Authority (CAFA) is a separate government entity whose purpose is to assist with the financing or refinancing of certain public capital facilities within the City. CAFA has the power to purchase bonds issued by any local agency at a public or negotiated sale and may sell such bonds to public or private purchasers at a public or negotia ted sale. CAFA is controlle d by the City and has the same governing body as the City, which also perfo rms all accounting and administrative functions for CAFA. The financial activities of CAFA are included in the City’s financial statements. The CAFA does not issue separate financial statements.
47 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 1 – Summary of Significant Accounting Policies (Continued) B. Basis of Presentation
The City’s Basic Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America. The Governmental Accounting Standards Board is the acknowledged standard setting body for establishing accounting and financial reporting standards followed by governmental entities in the United States.

These GASB Standards require that the financial statements described below be presented:

Government-wide Statements: The Statement of Net Position and the Statement of Activities display information about the primary gove rnment, the City and its blended component units. These statements include the financial activities of the overall City government, except for fiduciary activities.

Eliminations have been made to minimize the double counting of internal activities. However, the interfund services provided and used are not eliminated in the process of consolidation. These statements distinguish between the governmental and business-type activities of the City. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange transactions. Business-type activities are financed, in whole or in part, by fees charged to external parties.

The Statement of Activities presents a comparison between direct expenses and program revenues for each segment of the business-type activities of the City and for each function of the City’s governmental activities. Direct expenses are those that are specifi cally associated with a program or function and, therefore, are clearly identifiable to a particular fu nction. Program revenues include: (a) charges paid by the recipients of goods or services offered by the programs; (b) grants and contributions that are restricted to meeting the operational needs of a particular program; and (c) fees, grants and contributions that are restricted to financing the acquisition or construction of capital assets. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues.

Fund Financial Statements: The fund financial statements provide information about the City’s funds, including fiduciary funds and blended component units . Separate statements for each fund category — governmental, proprietary, and fiduciary — are presented. The emphasis of fund financial statements is on major individual governmental and enterprise funds, each of which is displayed in a separate column.

All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds.

Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues, such as charges for servi ces, and expenses, such as contract ual services, result from exchange transactions associated with the principal activity of the fund. Exchan ge transactions are those in which each party receives and gives up essentially equal values. Nonoperating revenues, such as investment earnings, and expenses, such as interest expenses, result from nonexchange tr ansactions or ancillary activities.
48 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 1 – Summary of Significant Accounting Policies (Continued)

C. Major Funds

Major funds are defined as funds that have either assets plus deferred outflows of resources, liabilities plus deferred inflows of resources, revenues or expenditures equal to ten percent of their fund-type total and five percent of the grand total. Major governmental and enterprise funds are identified and presented separately in the fund financial statements. All other funds, entitled non-major funds, are combined and reported in a single column, regardless of their fund-type. The General Fund is always a major fund. The City may also select other funds it believes should be presented as major funds based on qualitative factors.

The City reported the following major governmental funds in the accompanying financial statements:

General Fund - The General Fund accounts for all general reve nues of the City not specifically levied or collected by other City funds and their related expe nditures. The General Fund also accounts for all financial resources of a governmental unit which are not accounted for in another fund.

HOME Program Special Revenue Fund - This fund accounts for funds received under the Home Investment Partnerships Program (HOME) restricted for affordable housing for low-income households.

Base Reuse Special Revenue Fund - This fund accounts for the revenues from leasing activities revenues and grants. Expenditures are made for base reuse activities.

Capital Improvement Projects Fund - This fund accounts for monies for major capital improvement projects not provided for in a separate and specific capital project fund transferred in from other funds and received from grants.

Alameda Point Capital Projects Fund - This fund accounts for revenues and expenditures related to construction, improvements and capital maintenance projects within Alameda Point.

The City reported both of its enterprise funds as major funds in the accompanying financial statements:

Sewer Services Fund - The City operates its own wastewater system. This fund accounts for all financial transactions relating to this municipal activity including, but not limited to, operations, maintenance, capital financing and related debt service, billing and collection.

Alameda Municipal Power Fund - Alameda Municipal Power was established to provide electricity to the City of Alameda. This fund accounts for all financ ial transactions relating to this municipal activity including, but not limited to, opera tions, maintenance, capital financing and related debt services, billing and collection.

49 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 1 – Summary of Significant Accounting Policies (Continued) The City also reports the following fund types:

Internal Service Funds - The funds account for central stores, central garage, information technology projects, workers’ compensation insurance and claims, general liability insurance and claims, unemployment insurance and post-employment benefits, all of which are provided to other departments on a cost-reimbursement basis.

Fiduciary Funds - Trust Funds and Custodial Funds are used to account for assets held by the City as an agent:

Trust Funds - These funds account for asse ts held by the City as an agent for various functions.

The Successor Agency Private-Purpose Trust Fund accounts for the accumulation of resources to be used for payments due for the City’s former Community Improvement Commission at appropriate amounts and times in the future. The financial activities of this fund is excluded from the Government-wide financial statements, but is presented in separate Fiduciary Fund financial statements.

Custodial Funds - These funds account for assets held by the City as an agent for certain assessment districts in the City. The financial activities of these funds are excluded from the Government-wide financial statements, but are pr esented in separate Fiduciary Fund financial statements.

D. Basis of Accounting
The government-wide, proprietary and fiduciary fund financial statements are reported using the economic resources measurement focus and the full accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.

Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available.

The City considers all revenues reported in the gove rnmental funds to be available if the revenues are generally collected within sixty days after year-e nd. Expenditures are record ed when the related fund liability is incurred, except for principal and in terest on governmental long-term debt, claims and judgments, and compensated absences, which are recogn ized as expenditures to the extent they have matured. Governmental capital asset acquisitions are reported as expenditures in governmental funds.

Proceeds of governmental long-term debt and acquisitions under cap ital leases are reported as other financing sources.

Those revenues susceptible to accr ual are taxes, special assessments, intergovernmental revenues, use of money and property revenue, charges for services, fi nes and penalties, and license and permit revenues.

Sales taxes collected and held by the State at year-end on behalf of the City are also recognized as revenue. 50 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 1 – Summary of Significant Accounting Policies (Continued)

Non-exchange transactions, in which the City gives or receives value without directly receiving or giving equal value in exchange, include taxes, grants, ent itlements, and donations. On the accrual basis, revenue from taxes is recognized in the fiscal year for which the taxes are levied or assessed. Revenue from grants, entitlements, and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.

The City’s policy is to first apply restricted resources when an expense is incurred for purposes for which both restricted and unrestricted net position is available.

All proprietary and fiduciary funds are accounted for using the accrual basis of accounting. Their revenues are recognized when earned, and their expenses are r ecognized when incurred, ex cept for revenues from electricity and sewer customers, which are recognized based on cycle billings.

In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. In addition to liabilities, the statement of financial position or balance sheet will sometimes report a separate section for deferred inflows or resources. This separate financial statement element, deferred inflows of resources, represents an acquisiti on of net assets that applies to a future period(s) and so will not be recognized as an infl ow of resources (revenue) until that time.

E. Budgets and Budgetary Accounting

The City adopts a budget annually for all funds, excep t for the capital projects funds, which are budgeted on the project length basis. This budget is effective July 1 for the ensuing fiscal year. From the effective date of the budget, which is adopted by the City Council, and controlled at the fund level, the amounts stated therein as proposed expenditures become approp riations to the various City departments. The City Council may amend the budget during the fiscal year. The City Manager or his designee is authorized to transfer budgeted amounts between departments and be tween line items within any fund. However, any revisions which alter the total expenditures of any fund must be approved by the City Council. Transfers between funds must be approved by the City Council. All appropriations lapse at year end. Supplemental changes in appropriations that have been adopted by the City Council have been included in the budget versus actual statements.

Annual budgets are adopted on a basis consistent with generally accepted accounting principles except for capital projects funds. The capital projects funds are budgeted on a project length basis and, therefore, are not comparable on an annual basis.

Under encumbrance accounting, purchase orders, contracts and other commitments for the expenditures of monies are recorded in order to reserve that po rtion of the applicable appropriation. Encumbrance accounting is employed as an exte nsion of the formal budgetary pro cess. Encumbrances outstanding at year-end are reported as a componen t of assigned fund balance in the General Fund, and as restricted or committed fund balance in other funds, since they do not constitute expenditures or liabilities and are re- appropriated in the following year. Encumbrances outstanding at year end do not lapse and are included as part of the following year budget.

51 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 1 – Summary of Significant Accounting Policies (Continued)

The Waste Reduction Surcharge Special Revenue Fund had expenditures in excess of budget in Fiscal Year 2021 of $378,144. Sufficient resources were available within the fund to finance the excess.

F. Materials, Parts and Supplies

General fund supplies are recorded as expenditures at the time individual supply items are purchased.

Enterprise Fund supplies are valued at average cost and are used primarily for internal purposes.

G. Capital Assets

Capital assets, other than infrastructure assets, are defined by the City as assets with an initial, individual cost of more than $10,000 for all funds except Alameda Municipal Power, which capitalizes all assets with an initial cost of more than $5,000 and a useful life of at least three years. All capital assets, which include roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems, are valued at historical cost or estimated historical cost if actual historical cost is not available. Contributed assets are valued at their acquisition value on the date contributed.

All capital assets with limited useful lives are depreciated during their estimated useful lives. The purpose of depreciation is to allocate the cost of capital assets equitably am ong all users during the life of these assets. The amount charged to depreciation expense each y ear represents that year’s pro rata share of the cost of capital assets.

Depreciation is provided using the straight-line method, which means the cost of the asset is divided by its expected useful life in years, and the result is char ged to expense each year until the asset is fully depreciated. The City has assigned the useful lives listed below to capital assets:

Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase is reflected in the capitalized value of the asset constructed, net of interest earned on the invested proceeds within the same period.

Electric Plant 30 – 50 years
Building and Improvements 40 – 80 years
Machinery, Furniture and Equipment 4 – 40 years
Infrastructure 15 – 75 years
52 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 1 – Summary of Significant Accounting Policies (Continued)

H. Compensated Absences

The liability for compensated absences includes the vested portions of vacation, sick leave and compensated time off. For all governmental funds, a liability of these amounts is reported only if they have matured, for example, as a result of employee resignations and retirements. The remaining portion is recorded as a liability in the Statement of Net Position. Proprietary funds’ liability for compensated absences is recorded in each proprietary fund. The liability for compensated absences is determined annually.

Compensated absences activity for the year ended June 30, 2021 is as follows:

Governmental
Activities
Business Type
Activities Total
Beginning Balance 4,100,417$ 746,131 $ 4,846,548 $ Additions 4,496,180 666,783 5,162,963
Payments (4,401,277) (717,848) (5,119,125)
Ending Balance 4,195,320 $ 695,066 $ 4,890,386 $ Current Portion 4,195,320$ 695,066 $ 4,890,386 $ Primary Government

Compensated absences are liquidated by the fund that has recorded the liability. The long-term portion of governmental activities compensated absences is liquidated primarily by the General Fund.

I. Property Tax

Under California law, property taxes are assessed and collected by the counties at a rate of up to 1% of assessed value, plus other increases approved by the voters. Property taxes are collected by the Auditor- Controller of the County of Alameda (County) and ar e remitted upon collecti on to the various taxing entities, including the City. Accordingly, the City accrues only those taxes that are received from the County within sixty days after year-end.

For assessment and collection purposes, property is classified as either “secured” or “unsecured” and is listed accordingly on separate parts of the assessment roll. The “secured roll” is that part of the assessment roll containing State-assessed property and real property having a tax lien that is sufficient, in the opinion of the County Assessor, to secure payment of the taxes. Unsecured property comprises all taxable property not attached to land, such as personal property or business property. Every tax levied by a county that becomes a lien on secured property has priority over all present and future private liens arising pursuant to the State law on the secured property, regardless of the time of the creation of the other liens. A tax levied on unsecured property does not become a lien against the taxed unsecured property, but may become a lien on other property owned by the taxpayer.

53 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 1 – Summary of Significant Accounting Policies (Continued) Valuation of secured property and esta blishment of a statutory tax lien oc cur as of January 1 prior to the tax year of the related tax levy, and the secured and unsecured tax rolls are certified on or before July 31 of the tax year by the County Assessor. The County assesses property values, levies bills, and collects taxes.

Secured property tax is due in two installments on November 1 and February 1. It becomes delinquent after December 10 and April 10, respectively. Unsecured prop erty tax is due on July 1 and become delinquent on August 31.

The City does not have the ability to control the levy rate or the amount of property taxes remitted by the County because these are governed by State law.

J. Purchased Power Balancing Account
The Purchased Power Balancing Account is used by Alameda Municipal Power to help stabilize rates.

Specifically, the balancing account accumulates differences between the actual costs of providing a utility service with the related revenues designated for recovery of such costs. Deferred amounts are refunded to or recovered from customers through authorized rate adjustments, but can be reciprocally the beneficiaries of any temporary over-collection. The effect of using the balancing account is that unanticipated changes in sales levels and purchased power costs do not im mediately affect Alameda Municipal Power’s rates, because they are included in operating expenses when matched by revenues.

Deferred Inflows / Outflows of Resources
Deferred outflows of resources represent a consumption of net assets that applies to a future period and will not be recognized as an outflow of resources (expense/expenditure) until then. The City has two items that qualify for reporting in this category: 1) deferred charges on refunding debt reported in the statement of net position. A deferred charge on refunding results from the difference in the carrying value of refunded debt and its reacquisition price; this amount is deferred and amortized over the shorter of the life of the refunded or refunding debt and 2) deferred outflows related to OPEB and pensions.

Deferred inflows of resources represent an acquisition of net assets that applies to a future period and will not be recognized as an inflow of resources (revenue) until that time. For the governmental funds, the City has one item which qualifies for reporting in this category (under the modified accrual basis of accounting). Accordingly, the item, unavailable re venues, is reported only in the governmental funds balance sheet and represents unavailable revenues from revolving notes receivable, grant reimbursements, and other miscellaneous revenues not yet received. This amount is deferred and recognized as an inflow of resources in the period that the amount becomes available. At the government-wide statements, this item is eliminated and recognized as revenue since “availabi lity” of resources is not a criteria used in the government-wide statements. In addition, the City reports deferred inflows related to pensions, OPEB and deferred inflows related to the Alameda Municipal Power Fund balancing account used to help stabilize rate discussed above.
54 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 1 – Summary of Significant Accounting Policies (Continued)

L. Fair Value Measurement

Fair value is defined as 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. The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The fair value hierarchy categorizes the inputs to valuatio n techniques used to meas ure fair value into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 inputs are inputs – other than quoted pric es included within level 1 – that are observable for an asset or liability, either directly or indirectly.

Level 3 inputs are unobservable inputs for an asset or liability.

If the fair value of an asset or liability is measured using inputs from more than one level of the fair value hierarchy, the measurement is considered to be based on the lowest priority level input that is significant to the entire measurement.

M. Reserve Policies

General Fund Balance General Fund balance that is available at the close of any given fiscal year is estimated during the final stages of the budget development process for the following fiscal year. Fund balance is used to achieve and maintain the City’s reserve goals, and to balance subsequent budgets only when recommended by the City Mana ger and approved by the City Counc il. It is the policy of the City Council to maintain available General Fund reserves of at least 20% of annual expenditures. In addition, the City should strive to reduce its reliance upon prior year’s remaining fund balance to finance subsequent year operations.

Sewer Fund Reserves In its Sewer Fund, the City shall strive to maintain a minimu m of six months of operating revenues and $2 million for future capital projects in its reserves, to account for delays in receipt of sewer charges placed on the County tax roll and to ensure sufficient available cash to pay operating and capital expenses.

N. Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

55 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 1 – Summary of Significant Accounting Policies (Continued)

O. Implementation of New GASB Pronouncements

The GASB issued Statement No. 84 “Fiduciary Activities .” The objective of this statement is to improve guidance regarding the identification of fiduciary activities for accounting and financial reporting purposes and how those activities should be reported. The City implemented the provisions of Statement No. 84 in Fiscal Year 2021.

The GASB issued Statement No. 90 “Majority Equity Interest - An Am endment of GASB Statements No. 14 and No. 61.” The objectives of this Statement are to improve the consistency and comparability of reporting a government’s majority equity interest in a legally separate organi zation and to improve the relevance of financial statement information for certain component units. This statement became effective for the City’s Fiscal Year ending June 30, 2021, bu t did not have a material effect on the financial statements.

The GASB issued Statement No. 98 “ The Annual Comprehensive Financial Report. ” This Statement establishes the term annual comprehensive financial report and its acronym ACFR. That new term and acronym replace instances of comprehensive annual financial report and its acronym in generally accepted accounting principles for state and local governments. This statement is effective for the Fiscal Year ending June 30, 2022, but the City early im plemented the provisions of the Stat ement in the Fiscal Year ending June 30, 2021

P. Upcoming GASB Pronouncements

The City is analyzing the effects of the following pronouncements and the potential impact on the financial statements for the following GASBs by the effective dates:

The GASB issued Statement No. 87 “ Leases.” The objective of this statement is to improve guidelines related to the recognition of lease assets and liabilities that previous ly were classified as operating leases. Application of statement No. 87 is effective for the City’s Fiscal Year ending June 30, 2022.

The GASB issued Statement No. 89 “Accounting for Interest Cost Incurred Before the end of a Construction Period.” The objective of this statement is to e nhance the relevance and comparability of information about capital assets and the cost of borrowing and to simplify accounting for interest costs incurred before the end of the construction period. Application of statement No. 89 is effective for the City’s Fiscal Year ending June 30, 2022.

The GASB issued Statement No. 91 “Conduit Debt Obligations.” The primary objectives of this Statement are to provide a single method of reporting conduit debt obligations by issuers and eliminate diversity in practice associated with (1) commitments extended by i ssuers, (2) arrangements associated with conduit debt obligations, and (3) related note disclosures. This Statement achieves those objectives by clarifying the existing definition of a conduit debt obligation; establishing that a conduit debt obligation is not a liability of the issuer; establishing standards fo r accounting and financial reporting of additional commitments and voluntary commitments extended by i ssuers and arrangements associated with conduit debt obligations; and improving required note disclosures. Application of statement No. 91 is effective for the City’s Fiscal Year ending June 30, 2023.

56 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 1 – Summary of Significant Accounting Policies (Continued) The GASB issued Statement No. 92 “Omnibus 2020.” The objectives of this Statement are to enhance comparability in accounting and financial reporting and to improve the consis tency of authoritative literature by addressing practice issues that have been identified during implementation and application of certain GASB Statements. This Statement addresses a variety of topics and includes specific provisions including reporting of intra-entity transfers of assets between a primary government employer and a component unit defined benefit pension plan or defined benefit other postemployment benefit (OPEB) plan, the applicability of Statements No . 73 and No. 74, as amended, to reporting assets accumulated for postemployment benefits, the applicability of certain requirements of Statement No. 84 to postemployment benefit arrangements, and reference to nonrecurring fair value measurem ents of assets or liabilities in authoritative literature, among other requirements. Certain provisions of the Statement related to Implementation Guide 2019-3, rein surance recoveries, and terminology used to refer to derivative instruments were effective upon issuance of the Stat ement in January 2020, but did not have a material effect on the City’s financial statements and the rest of the provisions of the Statement are effective for the City’s Fiscal Year ending June 30, 2022.

The GASB issued Statement No. 93 “Replacement of Interbank Offered Rates.” Some governments have entered into agreements in which variable payments made or received depend on an interbank offered rate (IBOR)—most notably, the London Interbank Offered Rate (LIBOR). As a result of global reference rate reform, LIBOR is expected to cease to exist in its current form at the end of 2021, prompting governments to amend or replace financial instruments for the purp ose of replacing LIBOR with other reference rates, by either changing the reference rate or adding or changing fallback provisions related to the reference rate.

The removal of LIBOR as an appropriate benchmark inte rest rate is effective for reporting periods ending after December 31, 2021. All other requirements of this Statement are effective for reporting periods beginning after June 15, 2021.

The GASB issued Statement No. 94 “Public-Private and Public-Public Partnerships and Availability Payment Arrangements.” The primary objective of this Statem ent is to improve financial reporting by addressing issues related to public -private and public-public partnership arrangements (PPPs). As used in this Statement, a PPP is an arrangement in which a government (the transferor) contracts with an operator (a governmental or nongovernmental entity) to provide public services by conveying control of the right to operate or use a nonfinancial asset, such as infrastructure or other capital asset (the underlying PPP asset), for a period of time in an exchange or exchange-like transaction. Some PPPs meet the definition of a service concession arrangement (SCA), which the Board defines in this Statement as a PPP in which (1) the operator collects and is compensated by fees from third parties; (2) the transferor determines or has the ability to modify or approve which services the operator is required to provide, to whom the operator is required to provide the services, and the prices or rates that can be charged for the services; and (3) the transferor is entitled to significant residual interest in the service utility of the underlying PPP asset at the end of the arrangement. Application of Statement No. 94 is effective for Fiscal Years beginning after June 15, 2022, and all reporting periods thereafter.
57 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 1 – Summary of Significant Accounting Policies (Continued)

The GASB issued Statement No. 96 “Subscription-Based Information Technology Arrangements.” This Statement provides guidance on the accounting and financial reporting for subscription-based information technology arrangements (SBITAs) for government end users (governments). This Statement (1) defines a SBITA; (2) establishes that a SBITA results in a right-to-use subscription asset—an intangible asset—and a corresponding subscription liability ; (3) provides the capitalization criteria for outlays other than subscription payments, including implementation cost s of a SBITA; and (4) requires note disclosures regarding a SBITA. To the extent relevant, the standards for SBITAs are based on the standards established in Statement No. 87, Leases, as ame nded. A SBITA is defined as a cont ract that conveys control of the right to use another party’s (a SBITA vendor’s) in formation technology (IT) software, alone or in combination with tangible capital assets (the underlying IT assets), as specified in the contract for a period of time in an exchange or exchange-like transaction. Application of Statement No. 96 are effective for fiscal years beginning after June 15, 2022, and all reporting periods thereafter.

The GASB issued Statement No. 97 “Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—an amendment of GASB Statements No. 14 and No. 84, and a supersession of GASB Statement No. 32.” The primary objectives of this Statement are to (1) increase consistency and comparability related to the reporting of fiduciary component units in circumstances in which a potential component unit does not have a governing board and the primary government performs the duties that a governing board typical ly would perform; (2) mitigate costs associated with the reporting of cer tain defined contribution pension plans, defined contribution other postemployment benefit (OPEB) plans, and employee benefit plans other than pension plans or OPEB plans (other employee benefit plans) as fiduciary component units in fiduciary fund financial statements; and (3) enhance the rele vance, consistency, and comparability of the accounting and financial reporting for Internal Revenue Code (IRC) Section 45 7 deferred compensation plans (Section 457 plans) that meet the definition of a pension plan and for benefits provided through those plans. Certain provisions of the Statement are effective upon issu ance in June 2020, but did not have a material effect on the City’s financial statements and application of the remaini ng provisions of Statement No. 97 are effective for periods beginning after June 15, 2021.

Note 2 – Cash, Cash Equivalents, and Investments

The City’s dependence upon property tax receipts, which are received semi-annually, requires it to maintain significant cash reserves to finance operations during the remainder of the year. The City pools cash from all sources and all funds except cash with fiscal agen ts and the Alameda Municipal Power Fund so that it can be invested at the maximum yiel d, consistent with safety and li quidity. Individual funds can make expenditures at any time.

Investment income is allocated among funds on the basis of average month end cash and investment balances in these funds. Investments are carried at fair value.

A. Policies

California Law requires banks and savings and loan institutions to pledge government securities with a fair value of 110% of the City’s cash on deposit, or first trust deed mortgage notes with a market value of 150% of the deposit, as collateral for these deposits. Under California law, this collatera l is held in a separate investment pool by another institution in the City’s name and places the City ahead of general creditors of the institution.

58 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 2 – Cash, Cash Equivalents, and Investments (Continued)

The City and its fiscal agents invest in individual investments and in investment pools. Individual investments are evidenced by specific identifiable se curities instruments, or by an electronic entry registering the owner in the records of the institution issuing the security, called the book entry system. In order to increase security, the City employs the Trust Department of a bank as the custodian of certain City managed investments, regardless of form.

The City’s investments are carried at fair value, as required by genera lly accepted accounting principles.

The City adjusts the carrying value of its investments to reflect their fair value at each fiscal year end, and it includes the effects of these adjustments in income for that fiscal year.

Cash and cash equivalents are considered to be liquid assets for purposes of measuring cash flows.

Restricted cash and investments are not included for cash flow purposes.

B. Classification

Cash, cash equivalents, and investments are classified in the financial statements as shown below, based on whether or not use is restricted under the terms of C ity debt instruments or ag ency agreements. Cash and investments as of June 30, 2021, as presented on the Statement of Net Position and Statement of Fiduciary Net Position are as follows:

Statement of Net Position:

Cash and investments 330,596,269$
Restricted cash and investments 19,187,025
Investments designated for special purposes 38,328,139
Fiduciary Funds:

Cash and investments 10,794,666
Restricted cash and investments 1,447,566
Total cash and investments 400,353,665$

Cash and investments as of June 30, 2021 are composed of the following categories:

Cash on hand (petty cash and change funds) 9,425$
Deposits with financial institutions 147,843,441
Investm ents 252,500,799
Total cash and investments 400,353,665$

59 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 2 – Cash, Cash Equivalents, and Investments (Continued) C. Investments Authorized by the California Go vernment Code and the City’s Investment Policy The City’s investment policy and the California Government Code allow the City to invest in the following, provided the credit ratings of the issuers are acceptable to the City, and approved percentages and maturities are not exceeded. The table also identifies certain pr ovisions of the California Government Code, or the City’s Investment Policy where the City’s Investment Policy is more restrictive, that addresses interest rate risk, credit risk and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustee that are governed by the provisions of debt agreem ents of the City, rather than the general provisions of the California Government Code or the City’s investment policy.

The City’s investment policy and the California Government Code allow the City to invest in the following:

Minimum Maximum Maximum
Maximum Credit Percentage of Investment
Authorized Investment Type Maturity (A) Quality Portfolio In One Issuer Bank/Time Deposits 5 Years N/A No Limit No Limit
U.S. Treasury Bonds, Notes and Bills 5 Years N/A No Limit No Limit U.S. Agency and U.S. Government Sponsored
Enterprise Securities
5 Years N/A 75% 25%
Mutual Funds and Money Market Funds 5 Years Highest rating by 2 NRSRO's 20% 10% Bankers' Acceptances 180 Days A1/P1 or equivalent 30% 5% Commercial Paper 270 Days A1/P1 (A rated issuer) 40% (B) 5% Negotiable Certificates of Deposit (NCD) 5 Years No rating for amount under FDIC insurance; A1/A for amounts greater
than FDIC insurance
30% (Combined
with CDARs)
5%
California Local Agency Investment Fund (LAIF) N/A N/A $75,000,000 per account N/A
California Asset Management Program N/A N/A No Limit No Limit Non‑Negotiable Certificates of Deposit / CDARs 3 Years N/A 30% (Combined with NCDs)
5%
Municipal Obligations 5 Years
A or equivalent
(except City's own bonds) 30% 5%
Medium-Term Corporate Notes 5 Years A or equivalent 30% 5% Supranationals 5 Years AA or equivalent 15% (US Dollar
denominated)
10%
Asset backed securities 5 Years AA or equivalent rated issue 20% 5% (A) The maximum of any investment shall not exceed fi ve years unless expressly authorized by City Council. (B) Under a provision sunsetting on January 1, 2026, no more than 40% of the portfolio may be invested in Commercial Paper if the City’s investment assets under management are greater than $100,000,000.

After that date, no more than 25% of the portfolio may be invested in Commercial Paper.

D. Investments Authorized by the California
Government Code and Alameda Municipal Power’s
Investment Policy
Alameda Municipal Power’s investment policy an d the California Government Code allow Alameda Municipal Power to invest in the following, provided the credit ratings of the issuers are acceptable to Alameda Municipal Power, and approved percentages and maturities are not exceeded. The table below also identifies certain provisions of the Californi a Government Code, or Alameda Municipal Power’s Investment Policy where Alameda Municipal Power’s Investment Policy is more restrictive, that addresses interest rate risk, credit risk and concentration of credit risk. 60 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 2 – Cash, Cash Equivalents, and Investments (Continued)

This table does not address investme nts of debt proceeds held by bond trustees that are governed by the provisions of debt agreements of Alameda Municipal Power, rather than the general provisions of the California Government Code or Alameda Municipal Power’s investment policy. Alameda Municipal Power’s investment policy and the California Government Code allow Alameda Municipal Power to invest in the investments in the table in the next section:

Maximum Maximum
Maximum Minimum Percentage of Investment in
Authorized Investment Type Maturity Credit Quality Portfolio One Issuer Bank/Time Deposits 5 years N/A No Limit No Limit
U.S. Treasury Obligations 5 years N/A No Limit No Limit U.S. Agency Securities 5 years N/A 75%. 25%
Mutual Funds and Money Market Funds 5 years Highest rating by two NRSROs 20% 10% Bankers Acceptances 180 days A1/P1 30% 5%
Commercial Paper 270 days A1/P1 25% 5%
Non-Negotiable Certificates of Deposit/CDARS 3 years N/A 30% (combined with NCDs) 5% Negotiable Certificates of Deposit 5 years
No rating for amount under FDIC
insurance; A-1 / A for amounts
greater than FDIC insurance 30% (combined with CDARS) 5% California Local Agency Investment $75,000,000
Fund (LAIF) N/A N/A per account N/A
California Asset Management Program (CAMP) N/A
and CalTrust Upon demand N/A No Limit N/A
Municipal Obligations 5 years
A or equivalent (except City's own
bonds) 30% 5%
Medium Term Corporate Notes 5 years A or equivalent 30% 5% Supranationals 5 years AA or equivalent 10%
Asset-Backed Securities 5 years
AA or equivalent rated issue
(with issuer rated A or higher) 20% 5%
15% (US Dollar denominated)

E. Public Agencies Post-Employment Trust

On March 22, 2017, the City Council adopted resolution 15253 approvi ng the adoption of an amendment to the Public Agencies Post-Employment Trust admi nistered by Public Agen cy Retirement Services (PARS) to establish a pension trust. The Trust is an irrevocable trust and qualifies as an Internal Revenue Section 115 trust. Investments of funds held in Trust are governed by the Investment Guideline Document for the investment account and by the agreement for administrative serv ices with PARS, rather than the general provisions of the California Government Code or the City’s investment policy. This trust will assist the City in mitigating the CalPERS contribution rate volatility. The City elected a discretionary investment approach, which allows the City to maintain oversight of the investment management, control on target yield and the portfolio’s risk tolerance, under the Balanced Index PLUS investment option. This pension trust is a secondary trust to the City’s CalPERS Pension Plan; therefore, the assets are reported in the City’s Pension Stabilization Internal Service Fund. The assets in the Trust will eventually be used to fund pension plan obligations.
61 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 2 – Cash, Cash Equivalents, and Investments (Continued) F. Investments Authorized by Debt Agreements
The City and the Successor Agency to the Community Improvement Commission must maintain required amounts of cash and investments with trustees or fiscal agents under the terms of certain debt issues. These funds are unexpended bond proceeds or are pledged as reserves to be us ed if the City or the Successor Agency to the Community Improvement Commission fails to meet its obligations under these debt issues.

The California Government Code requires these funds to be invested in accordance with City ordinance, bond indentures or State statute. The table below id entifies the investment types that are authorized for investments held by fiscal agents. The table also identifies certain provisions of these debt agreements:

Minimum Maximum Maximum
Maximum Credit in Investment
Authorized Investment Type Maturity Quality Portfolio In One Issuer Repurchase Agreements 30 days
Top Four Rating
Categories
No Limit Per
Account No limit Per Account
U.S. Treasury Bonds, Notes and Bills No Limit N/A No Limit No Limit U.S. Agency and U.S. Government Sponsored
Enterprise Securities No Limit No Limit No Limit No Limit State Obligations No Limit
Not Lower Than Their
Bond Rating No Limit No Limit
Commercial Paper 180 - 270 Days A-1+ 20% - No Limit
10% of outstanding issues (A rated
issuer US organized and with
operations in US with a total assets in
excess of $500 mil) - No limit
Negotiable Certificates of Deposit No Limit N/A No Limit No Limit Time Certificates No Limit N/A No Limit No Limit
Corporate Notes and Bonds No Limit
Not Lower Than Their
Bond Rating No Limit No Limit
Guaranteed Investment Contracts No Limit
AA - Not Lower Than
Their Bond Rating No Limit No Limit
Shares of Beneficial Interest No Limit Top Rating Category No Limit No Limit Money Market Mutual Funds No Limit
Aam - Highest Rating
Category 20% No Limit
Bankers' Acceptances 365 days A-1+ 30% 30%
Municipal Bonds No Limit AAA No Limit No Limit
California Local Agency Investment Fund (LAIF) Upon Demand N/A $75,000,000
per account
$75,000,000
per account
Investment Agreements
No Limit AA- No Limit No Limit
California State Warrants, Treasury Notes or Bonds 3 Years Top Two Highest Short-
Term or Long-Term
Rating Categories No Limit No Limit
62 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 2 – Cash, Cash Equivalents, and Investments (Continued)

Alameda Municipal Power Fund (AMP) must maintain required amounts of cash and investments with trustees or fiscal agents under the terms of certain debt issues. These funds are unexpended bond proceeds or are pledged as reserves to be used if Alameda Municipal Power fails to meet its obligations under these debt issues. The California Governme nt Code requires these funds to be invested in accordance with the City’s ordinance, bond indentures or State statute. The table below identifies the investment types that are authorized for investments held by fiscal agents. The table also identifies certain provisions of these debt agreements:

Maximum Maximum
Maximum Minimum Percentage of Investment in
Authorized Investment Type Maturity Credit Quality Portfolio One Issuer U.S. Treasury Obligations N/A N/A No Limit No Limit
State Obligations N/A N/A No Limit No Limit
U.S. Agency Securities (A) N/A N/A No Limit No Limit
Commercial Paper N/A A1/P1/A 25% 5%
Certificates of Deposit 5 years A1/A 30% 5%
Bankers Acceptances 180 days A1/P1 30% 5%
Money Market Mutual Funds N/A A 20% No Limit
California Local Agency Investment Fund (LAIF) N/A N/A No Limit LAIF Limit Investment Agreements (B) N/A AA No Limit No Limit
(A) Securities issued by agencies of the federal government such as the Federal Farm Credit Bank (FFCB), the Federal Home Loan Bank (FHLB), the Federal National Mortgage Association (FNMA), and the Federal Home Loan Mortgage Corporation (FHLMC)
(B) Investment agreements, including guaranteed investment contracts, repurchase agreements, forward purchase agreements and reserve fund put agreements.

63 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 2 – Cash, Cash Equivalents, and Investments (Continued) G. Interest Rate Risk
Interest rate risk is the risk that changes in economic markets that will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to the changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer term investments and by timing cash flows from maturities, so that a portion of the portfolio is maturing or realizing maturity evenly over time as necessary in order to provide the cash flow and liquidity needed fo r operations. Information on the sensitivity of the fair values of the City’s investme nts (including investments held by bond trustees) to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investments by maturity at June 30, 2021:
12 Months One to
Investment Type or less Five Years Total
U.S. Government-Sponsored
Enterprise Agencies 1,308,464$ 32,084,363$ 33,392,827$ Medium-Term Corporate Notes:

Non-callable 648,510 19,801,098 20,449,608
Callable 727,137 4,257,429 4,984,566
Asset Backed Securities 39,100 9,269,072 9,308,172
Supranationals 924,732 2,678,531 3,603,263
U.S. Treasury Notes 226,450 31,664,541 31,890,991
Money Market Mutual Funds 18,624,563 18,624,563
California Local Agency Investment Fund 107,988,543 107,988,543 Negotiable Certificates of Deposit 892,613 3,828,083 4,720,696 Time Certificates of Deposit 1,185,614 5,665,950 6,851,564 Municipal Bonds 8,122,131 2,563,875 10,686,006
Total Investments 140,687,857 $ 111,812,942 $ 252,500,799 Cash deposits with banks and on hand 147,852,866
Total Cash and Investments 400,353,665 $
The City and Alameda Municipal Powe r are participants in the Local Agency Investment Fund (LAIF), which is regulated by California Government Code S ection 16429 under the oversight of the Treasurer of the State of California. The City and Alameda Municipal Power report their investments in LAIF at the fair value amounts provided by LAIF, which is the same as the value of the pool share. At June 30, 2021, the fair value approximated cost of the investments of the City and Alameda Municipal Power. The balance, available for withdrawal on demand, is based on the accounting records mainta ined by LAIF, which are recorded on an amortized cost basis. Each regular LAIF account is permitted to have up to 15 transactions per month, with a minimum transaction amount of $5
,000, a maximum transaction amount of $75 million
and at least 24 hours advance notice for withdrawals of $10 million or more. Bo nd proceeds accounts are subject to a one-time deposit with no cap and are set up with a monthly draw down schedule. Included in LAIF’s investment portfolio are collateralized mort gage obligations, mortgage-backed securities, other asset-backed securities, loans to certain state funds, and floating rate securities issued by federal agencies, government-sponsored enterprises, United States Treasury Notes and Bills, and corporations. At June 30, 2021, these investments had an average maturity of 291 days. 64 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 2 – Cash, Cash Equivalents, and Investments (Continued) H. Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment when an investment matures. This is measured by the assignment of a credit rating by a nationally recognized statistical ratin g organization. Presented below is the actual rating as of June 30, 2021, for each City’s investment type as provided by Standard and Poor’s:

Investment Type AAA/AAAm AA+ to AA- A+ to A- A-1+ to A-1 BBB+ to
BBB- (A) Total
U.S. Government-Sponsored
Enterprise Agencies - $ 32,179,863$ -$ -$ -$ 32,179,863$ Medium Term Corporate Notes:

Non-callable 3,742,079 15,894,221 813,308 20,449,608 Callable 420,099 872,254 3,080,861 611,352 4,984,566 Supranationals 2,678,531 2,678,531
Asset Backed Securities 6,003,451 6,003,451
Money Market Mutual Funds 18,624,563 18,624,563
Negotiable Certificates of Deposit 920,361 809,225 1,244,257 2,973,843 Municipal Bonds 335,528 7,669,023 2,429,767 10,434,318
Totals 28,062,172$ 45,383,580$ 22,214,074$ 1,244,257$ 1,424,660$ 98,328,743 Not rated:

U.S. Government-Sponsored
Enterprise Agencies 1,212,964
California Local Agency Investment Fund 107,988,543
Supranationals 924,732 (A)
Asset Backed Securities 3,304,721 (A)
Time Certificates of Deposit 6,851,564
Negotiable Certificates of Deposit 1,746,853
Municipal Bonds 251,688 (B)
Exempt:

US Treasury Notes 31,890,991
Total Investments 252,500,799$
(A) Investments are rated A1,A2,A3, Aa2, and Aaa by Moody's Investors Service, Inc., which is in compliance with the City's and/or with the Alameda Municipal Power's Investment Policy minimum credit rating requirements. (B) Investment is not rated by Standard and Poor's or Moody's Investors Service, Inc., however, it was rated A by Fitch at the time of purchase, which is in compliance with the City's Investment Policy minimum credit rating requirements.

I. Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of th e failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. As previously described, the City’s deposits are collateralized in accordance with California Government Code. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker-dealer) to a transaction, a government will not be able to recove r the value of its investment or co llateral securities that are in the possession of another party. The California Governme nt Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for investments. 65 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 2 – Cash, Cash Equivalents, and Investments (Continued) As of June 30, 2021, Alameda Municipal Power’s de posits with Hilltop Securities were insured up to $250,000 by FDIC. Hilltop Securities also had Securities Investor Protection Corporation (SIPC) coverage which provided an additional $500,000 coverage. Furthermore, Hilltop Securities had private insurance in excess of SIPC coverage with a $1.9M per‐client limit. As of June 30, 2021, Alameda Municipal Power’s investments balance with Hilltop Securities was $28, 027,360, comprised of U.S. Government-Sponsored Enterprise Agencies of $3,176,554 , Medium Term Corporate Notes of $8,147,643, Time Certificates of Deposit of $6,581,221, Negotiable Certificates of De posit of $1,746,853, Municipal Bonds of $8,357,731 and Money Market Mutual Funds of $17,374.

J. Fair Value Measurements
The City categorizes its fair value measurements with in the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described as follows:

Level 1 – Investments whose values are based on quoted prices (unadjusted) for identical assets in active markets that a government can access at the measurement date.

Level 2 – Investments whose values are based on inputs other than quoted prices included within Level 1 that are observable for an asset, either directly or indirectly.

Level 3 – Investments whose values are based on un observable inputs for an asset and may require a degree of professional judgment.

The asset’s level within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The determ ination of what constitutes observable requires judgment by the City’s management. City management considers observable data to be that market data, which is readily available, regularly distributed or updated, reliable, and veri fiable, not proprietary, and provided by multiple independent sources that are actively involved in the relevant market. The categorization of an investment within the hierarchy is based upon the relative observability of the inputs to its fair value measurement and does not necessar ily correspond to City management’s perceived risk of that investment.

Deposits and withdrawals in governmental investment po ols, such as LAIF are made on the basis of $1 and not fair value. Accordingly, the City’s propor tionate share in these types of investments is an uncategorized input not defined as a Level 1, Level 2, or Level 3 input.

The following is a description of the valuation methods and assumptions used by the City to estimate the fair value of its investments. There have been no changes in the methods and assumptions used at June 30, 2021. The methods described may produce a fair value calculation th at may not be indicative of net realizable value or reflective of fu ture fair values. City management believes its valuation methods are appropriate and consistent with other market par ticipants. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
66 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 2 – Cash, Cash Equivalents, and Investments (Continued)

When available, quoted prices are used to determine fair value. When quoted prices in active markets are available, investments are classified within Level 1 of the fair value hierarchy.

For investments classified within Level 2 of the fair value hierarchy, the City’s custodians generally use a multi-dimensional relational model. Inputs to their pricing models are based on observable market inputs in active markets. The inputs to the pricing models are typically benchmark yields, reported trades, broker- dealer quotes, issuer spreads and benchmark securities, among others.

As of June 30, 2021, the City has the following recurring fair value measurements:

Fair Value Measurements on a Recurring Basis Using
Quoted Prices in Significant Other
Active Markets for Observable
Balance at Identical Assets Inputs
June 30, 2021 (Level 1) (Level 2)
Investments by Fair Value:

U.S. Government-Sponsored
Enterprise Agencies 33,392,827$ -$ 33,392,827$ Medium-Term Corporate Notes
Non-callable 20,449,608 20,449,608
Callable 4,984,566 4,984,566
Asset Backed Securities 9,308,172 9,308,172
Supranationals 3,603,263 3,603,263
U.S. Treasury Notes 31,890,991 31,890,991
Negotiable Certificates of Deposit 4,720,696 4,720,696
Time Certificates of Deposit 6,851,564 6,851,564
Municipal Bonds 10,686,006 10,686,006
Total Investments by Fair Value Level 125,887,693 31,890,991$ 93,996,702$ Investments Not Measured at Fair Value or Subject to
Fair Value Hierarchy:

Local Agency Investment Fund 107,988,543
Money Market Mutual Funds 18,624,563
Total Investments Not Measured at Fair Value 126,613,106 Total Investments 252,500,799$

67 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 2 – Cash, Cash Equivalents, and Investments (Continued)

K. Investments with Fair Values Highly Sensitive to Interest Rate Fluctuations

The City’s investments include corporate notes that have an embedded call feature. At June 30, 2021, those investments consisted of:

Issuer Maturity Date Callable Date Reported Amount
American Express Co 5/20/2022 4/20/2022 101,950$
Astrazeneca Finance LLC Corporate 5/28/2024 05/28/2022 219,724 Banc of America Corporate Note 05/19/2024 05/19/2023 350,775 Bank of America Corporate Note 06/19/2026 06/19/2025 250,640 Bank of NY Mellon Corporate Note 04/24/2025 03/24/2025 112,791 Bank of NY Mellon Corporate Note 01/27/2023 01/02/2023 148,340 Bristol-Myers SQUIBB CO 11/13/2023 11/13/2021 205,088
Charles Schwab Corporate Note 03/18/2024 02/18/2024 145,764 Charles Schwab Corporate Note 03/18/2024 02/28/2024 291,661 Honeywell International Note 08/08/2022 07/08/2022 96,796 HSBC Holding PLC Note 1X 05/18/2024 05/18/2023 584,193 JP Morgan Chase & Co Corporate Note 03/16/2024 03/16/2023 225,544 JP Morgan Chase & Co Corporate Note 02/16/2025 02/16/2024 89,440 JP Morgan Chase & Co Corporate Note 06/23/2025 06/23/2024 255,321 JP Morgan Chase & Co Corporate Note 09/16/2024 09/16/2023 169,939 Microsoft Note Cont 08/08/2021 07/08/2021 420,099
Morgan Stanley Corporate Note 01/25/2024 01/25/2023 264,648 Morgan Stanley Corporate Note 04/05/2024 04/05/2023 25,030 UnitedHealth Group Inc Corporate Note 05/15/2024 05/15/2022 154,569 US Bank NA Note 01/21/2025 12/20/2024 642,327
VISA INC Note 09/15/2022 08/15/2022 229,927

68 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 3 – Interfund Transactions

A. Current Balances

Current interfund balances arise in the normal course of business and are expected to be repaid shortly after the end of the fiscal year. The purpose of these balances is to eliminate negative cash balances at year end in various funds. At June 30, 2021, the amounts of current interfund balances were as follows:

Due From Other Funds Due To Other Funds Am ount
General Fund HOME Program Special Revenue Fund 484,742$ General Fund Alameda Municipal Power Enterprise Fund 2,314,893 2,799,635$

B. Long-Term Advances

Loan from Equipment Replacement Fund

In July 2014, the City Council au thorized a long-term loan from the Equipment Replacement Internal Service Fund to the Fire Station 3/Emergency Operatio ns Center Capital Projects Fund in the amount of $809,000 for the construction of the new Fire Station. In October 2018, the amount of the loan was reduced to $408,626 and the remaining $307,305 of the loan was transferred to the General Fund. The loan bears a 3% simple interest rate and will be due in full in 20 years. The ad vance is secured by a promissory note where the City’s General Fund is pledged as security for the repayment of the loan. The outstanding loan balance at June 30, 2021 was $280,887.

Loan from General Fund and FISC Lease Revenue Fund

In June 2017, the City Council authorized a long-t erm loan from the General Fund ($700,000) and FISC Lease Revenue Fund ($700,000) to the Development Impact Fee Fund for the construction of Estuary Park.

The principal balances of the loans bear simple interest at a simple annual rate equivalent to the LAIF rate in effect at the time. In June 20 19, the City Council authorized an ad ditional loan of $1,120,891 from the General Fund to the Development Impact Fee Fund. This portion of the advance bears no interest. The advances are secured by a promissory note where available funds from the Development Impact Fee Fund are pledged as security for the repayment of the lo an. The original loans are repayable in annual installments of $233,334 through June 30, 2021 and the additional loan is repayable in annual payments of $120,000 through June 30, 2029. During Fiscal Year 2021, the Development F ee Impact Fund made the final installment payment on the June 2017 loan in the amount of $466,666. The outstanding balance of the June 2019 loan at June 30, 2021 was $896,713.

69 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 3 – Interfund Transactions (Continued)

C. Transfers Between City Funds

With Council approval, resources may be transferred from one City fund to another. Transfers between City funds during Fiscal Year 2020-21 were as follows:

Fund Receiving Transfers Fund Making Transfer
Amount
Transferred
General Fund Capital Improvement Projects Fund 3,150,979$ A Non-Major Governmental Funds 142,000 B
Alameda Municipal Power Enterprise Fund 4,012,000 C
Base Reuse Special Revenue Fund Alameda Point Capital Projects Fund 29,454,180 D Capital Improvement Projects Fund General Fund 2,040,333 E Base Reuse Special Revenue Fund 25,000 E
Non-Major Governmental Funds 8,592,708 E
Sewer Services Enterprise Fund 499,900 E
Non-Major Governmental Funds General Fund 6,611,742 B
Base Reuse Special Revenue Fund 690,000 E,F
Non-Major Governmental Funds 2,223,696 B,F
Internal Service Funds General Fund 9,317,000 B
Capital Improvement Projects Fund 732,047 G
Total 67,491,585$
The reasons for these transfers are set forth below:
(A) Transfer from CIP to General Fund to return unspent project funds (B) To fund library, recreation, debt service, deferred maintenance, pension and OPEB Costs (C) Transfer from Alameda Municipal Power Fund to the General Fund per Charter (D) To return unspent project funds
(E) To fund capital and storm drain projects
(F) To fund housing projects
(G) To fund facility replacement

D. Internal Balances

Internal balances are presented in the entity-wide financial statements only. They represent the net interfund receivables and payables remaining after the eliminat ion of all such balances within governmental and business-type activities.

Note 4 – Housing Rehabilitation and Affordable Housing Loans Receivable

The City and former Community Improvement Commission (CIC) have engaged in programs designed to encourage construction or improvement in low-to-moderate income housing or other projects. Under these programs, grants or loans are provi ded under favorable terms to homeow ners or developers who agree to expend these funds in accordance with the City’s and former CIC’s terms. Some of these loans may be forgiven at the completion of the loan term if all s tipulated conditions are met. Other loans and notes are expected to be repaid in full.

The City’s remaining outstanding balance of the loans receivable fro m these programs at June 30, 2021 was $10,800,895, which has been offset with unavailable revenue. Included in the outstanding balance are receivables totaling $1,704,285 from the Alameda Housing Authority. 70 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 5 – Capital Assets

A. Capital Asset Additions and Retirements

City capital asset activities for the year ended June 30, 2021, are as follows:

Balance at Balance at
June 30, 2020 Additions Retirements Transfers June 30, 2021 Governmental activities
Capital assets not being depreciated:

Land 5,995,318$ -$ -$ -$ 5,995,318$ Construction in progress 46,241,799 16,182,054 (261,620) 62,162,233 Total capital assets not being depreciated 52,237,117 16,182,054 (261,620) 68,157,551 Capital assets being depreciated:

Buildings 267,550,122 267,550,122
Machinery and equipment 37,873,816 3,505,780 (2,177,781) 39,201,815 Infrastructure:

Streets 183,987,404 183,987,404
Street Lights 6,085,118 6,085,118
Landscape 21,323,234 21,323,234
Storm drains 23,500,878 23,500,878
Potable water systems 1,353,939 1,353,939
Parks 17,502,608 (228,173) 261,620 17,536,055
Marina facilities 25,011,156 25,011,156
Golf improvements 4,205,963 4,205,963
Total capital assets being depreciated 588,394,238 3,505,780 (2,405,954) 261,620 589,755,684 Less accumulated depreciation:

Buildings (125,768,781) (3,217,265) (128,986,046)
Machinery and equipment (29,112,600) (1,885,394) 2,177,781 (28,820,213) Infrastructure:

Streets (91,792,515) (5,005,714) (96,798,229)
Street Lights (2,976,794) (201,201) (3,177,995)
Landscape (18,747,530) (141,079) (18,888,609)
Storm drains (11,541,566) (453,428) (11,994,994)
Potable water systems (1,224,291) (7,851) (1,232,142)
Parks (5,044,565) (634,761) 102,334 (5,576,992)
Marina facilities (21,405,064) (83,136) (21,488,200)
Golf improvements (3,763,511) (154,935) (3,918,446)
Total accumulated depreciation (311,377,217) (11,784, 764) 2,280,115 (320,881,866) Net capital assets being depreciated 277,017,021 (8,278,984) (125,839) 261,620 268,873,818 Governmental activity capital assets, net 329,254,138$ 7,903,070$ (125,839)$ -$ 337,031,369$

71 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 5 – Capital Assets (Continued)
Balance at Balance at
June 30, 2020 Additions Retirements Transfers June 30, 2021 Business-type activities
Capital assets, not being depreciated:

Land and Rights 220,143$ -$ -$ -$ 220,143$ Construction in progress 24,068,524 13,845,646 (1,117,648) (4,018,083) 32,778,439 Total capital assets not being depreciated 24,288,667 13,845,646 (1, 117,648) (4,018,083) 32,998,582 Capital assets, being depreciated:

Utility Plant 87,421,781 (151,550) 3,282,931 90,553,162 Service Center Building 8,168,069 8,168,069
Machinery and equipment 10,123,597 225,698 10,349,295
Transportation equipment 3,405,737 440,905 3,846,642
Computer equipment 4,683,748 11,180 4,694,928
Furniture and fixtures 2,458,726 334,243 (149,042) 57,369 2,701,296 Sewer lines 102,729,243 102,729,243
Total capital assets being depreciated 218,990,901 334,243 (300,592) 4,018,083 223,042,635 Less accumulated depreciation for:

Utility Plant (60,103,376) (3,534,093) 110,332 (63,527,137) Service Center Building (4,599,711) (180,959) (4,780,670) Machinery and equipment (9,175,554) (191,604) (9,367,158) Transportation equipment (2,730,881) (134,940) (2,865,821) Computer equipment (4,112,675) (119,960) (4,232,635)
Furniture and fixtures (2,156,978) (111,604) 149,042 (2,119,540) Sewer lines (36,353,680) (1,607,695) (37,961,375)
Total accumulated depreciation (119,232,855) (5,880,855) 259,374 (124,854,336) Net capital assets being depreciated 99,758,046 (5,546,612) (41,218) 4,018,083 98,188,299 Business-type activity capital assets, net 124,046,713$ 8,299,034$ (1,158,866)$ -$ 131,186,881$ B. Capital Asset Contributions
Some capital assets may be acquired using Federal and State grant funds, or they may be contributed by developers or other governments. These contributions are accounted for as revenues at the time the capital assets are contributed.
72 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 5 – Capital Assets (Continued)

C. Depreciation Allocation

Depreciation expense is charged to functions and pr ograms based upon usage of the related assets. The amounts allocated to each function or program are as follows:

Governmental Activities:

G eneral governm ent 170,066 $
Police 140,338
Fire 533,411
Public works 6,543,515
Com m unity developm ent 1,470,264
Community services 1,763,691
Internal Service Funds 1,163,479
Total Governmental Activities 11,784,764$
Business-Type Activities:

Sewer Services 1,678,892 $
Alameda Municipal Power 4,201,963
T otal Business-T yp e Activ ities 5,880,855$

Note 6 – Long-Term Debt

The City generally incurs long-term debt to finance projects or purchase assets, which will have useful lives equal to or greater than the term of the related debt . Bond discounts and issuance costs of long-term debt issues are amortized during the life of the related debt.

73 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 6 – Long-Term Debt (Continued)

A. City Long-Term Debt

The City’s long-term debt activities for th e year ended June 30, 2021, are as follows:

CUSIP Balance Balance Current
Number June 30, 2020 Retirement s June 30, 2021 Portion Governmental Activities Debt:

Loans and Leases From Direct Borrowing
Leases Payable not applicable 2,484,512$ (304,450)$ 2,180,062$ 313,305$ HUD Section 108 Loan Refinance, 2019 Series A not applicable 4,567,000 (463,000) 4,104,000 532,000 I-Bank Loan not applicable 2,580,814 (146,168) 2,434,646 149,511 Alameda County EMS Liability not applicable 1,755,868 (221,506) 1,534,362 228,151 Total Loans and Leases from Direct Borrowing 11,388,194 (1,135,124) 10,253,070 1,222,967 Certificates of Participation
2008 Refinancing Project 010762 675,000 (330,000) 345,000 345,000 2013 Financing Project 010762 6,120,000 (540,000) 5,580,000 565,000 Plus: Unamortized bond premium 250,231 (25,519) 224,712 Total Certificates of Participation 7,045,231 (895,519) 6,149,712 910,000 2003 ARRA Demand Revenue Bonds 010808 9,000,000 (400,000) 8,600,000 500,000 2013 General Obligation Refunding Bonds 010752 6,825,000 (390,000) 6,435,000 405,000 Plus: Unamortized bond premium 53,836 (5,467) 48,369 Subtotal 15,878,836 (795,467) 15,083,369 905,000 Total Governmental Activities Debt 34,312,261 (2,826,110) 31,486,151 3,037,967 Business-Type Activities Debt:

Loans From Direct Borrowing
State Revolving Fund Loan, 2004 not applicable 291,527 (94,691) 196,836 97,154 Total Loans from Direct Borrowing 291,527 (94,691) 196,836 97,154 Sewer Revenue Bonds, 2012 Series A 010782 12,625,000 (390,000) 12,235,000 400,000 Plus: Unamortized bond premiu
m 80,196 (3,597) 76,599 Revenue Bonds, Series 2010A 010808 8,700,000 8,700,000 Taxable Revenue Bonds, Series 2010B 010808 12,755,000 (1,410,000) 11,345,000 1,485,000 Subtotal 34,160,196 (1,803,597) 32,356,599 1,885,000 Total Business-Type Activities Debt 34,451,723 (1,898,288) 32,553,435 1,982,154 Total Debt 68,763,984$ (4,724,398)$ 64,039,586$ 5,020,121$

74 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 6 – Long-Term Debt (Continued)
B. Debt Service Requirements
Annual debt service requirements are shown below for all long-term debt:

For the Y ear
Ending June 30, Principal Interest Principal Interest
2022 1,222,967 $ 221,071 $ 1,815,000 $ 464,815 $ 2023 1,272,345 194,504 1,600,000 414,010 2024 1,318,273 166,733 1,640,000 377,535 2025 1,380,765 137,360 1,680,000 339,610 2026 1,454,837 105,970 1,715,000 299,741 2027-2031 2,827,984 186,673 8,345,000 840,812 2032-2035 775,899 35,990 4,165,000 110,558 Subtotal 10,253,070 1,048,301 $ 20,960,000 2,847,081 $ Plus unam ortized bond prem ium 273,081
Total 10,253,070 $ 21,233,081 $
Governmental Activities
Certificates of Participation and
Bonds
Loans and Leases from Direct
Borrowing
For the Year Loans from Direct Borrowing Bonds
Ending June 30, Principal Interest Principal Interest
2022 97,154$ 5,118$ 1,885,000$ 1,460,159$ 2023 99,682 2,592 2,015,000 1,353,309 2024 2,135,000 1,233,016
2025 2,255,000 1,109,067
2026 2,385,000 975,173
2027-2031 13,965,000 2,845,965
2032-2036 2,845,000 977,655
2037-2041 3,310,000 510,203
2042-2043 1,485,000 48,669
Subtotal 196,836 7,710$ 32,280,000 10,513,216$ Plus unam ortized bond prem ium 76,599
Total 196,836$ 32,356,599$
Business-Type Activities
75 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 6 – Long-Term Debt (Continued)

C. Description of the City’s Long-Term Debt Issues

The balance of the City’s debt is in various forms as follows:

Governmental Activities Debt

Certificates of Participation – Some of the City’s obligations are in the form of long-term leases between the City and the Alameda Public Financing Authority. Under these arrangements, the City enters into a legal agreement with the Authority to lease a specified City property to the Authority for an up-front, lump- sum lease payment. The City uses the lease proceeds to fund major capital improvements. The City furthermore continues to make use of the leased facility, and in return for that, agrees to pay the Authority regular lease payments. The Authority, in turn, sells sh ares of the City’s lease payments to investors. The shares are called Certificates of Participation, or COPs. The City’s lease payments are made to the certificate holders through the Trustee over the term of the agreement. The cost of the assets securing these leases and the balance of the debt evidenced by these Certificates of Participation have been included in the City’s financial statements, as these leases are in essence financing arrangements with ownership of the financed assets reverting to the City at the conclusion of the lease term.

2008 Refinancing Project Certificates of Participation – In July 2008, the City Council entered into a lease agreement with the Alameda Public Financing Authority for the Police Administration Building. The Authority issued Certificates of Participation to investors (in the amou nt of $4,575,000) to refinance and defease the 1996 Police Building and the 1996 Li brary and Golf Course Upgrade and Renovation Certificates of Participation. The 2008 Certificates ar e collateralized by the leased Police Administration Building over the term of the lease; the City may substitute alternative sites/facilities as collateral at its option over the same time period. The certificates bear interest rates from 4% to 5%, which are payable semi-annually in May and November. The City’s principal payments commenced on May 1, 2011.

The City is obligated to make the necessary annual appropriations within its budget for all lease payments owed under the lease agreement. In the event of default on the paymen ts, the City is obligated to take certain actions or consent to certain actions of a fina ncial nature as more fully described in the lease and related documents contained at the EMMA-MSRB website , but the trustee has no right to accelerate the lease payments.

2013 Financing Project Certificates of Participation – On September 17, 2013, the City of Alameda Financing Authority authorized the issuance of the Certificates of Participation (2013 Refinancing Project) in the amount of $9,610,000 to repay the City of Alameda 2002 Certificates of Participation and to finance the costs of construction of a new City Emergency Operations Center and associated expenses. The 2013 Certificates are collateralized by the leased Alameda Ci ty Hall over the term of the lease; the City may substitute alternative sites/facilities as collateral at its option over the same time period. The 2013 Certificates bear interest from 3% to 4%, which is payable semi-annually in May and November. Principal payments are due annually and commenced on May 1, 2014.

76 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 6 – Long-Term Debt (Continued)

2003 Alameda Reuse and Redevelopment Authority (ARRA) Variable Rate Demand Lease Revenue Bonds – On December 1, 2003, the Alameda Public Fi nancing Authority issued Variable Rate Revenue Bonds in the original principal amount of $13,440,000 at a variable rate of interest determined on a weekly basis. The proceeds from the bonds were used to refund the 1999 ARRA Revenue Bonds, which were issued to finance the costs of certain improvements at Alameda Point (assigned to the Base Reuse Special Revenue Fund), and to finance professional services for land use planning and other activities required for the redevelopment process at Alameda Point. Repaymen t of these bonds is from lease revenues paid to ARRA from certain land, buildings, fixtures and equipment. Interest is payable on the first business day of each month, and principal is due December 1.

The pledge of sublease revenues ends upon repayment of the $8,640,632 in remaining debt service on the Bonds, which is scheduled to occur in 2034. As disclosed in the bond indenture documents, pledged future sublease revenues are expected to provide coverage ov er debt service of 1.5 during the life of the Bonds.

For Fiscal Year 2020-21, sublease revenues amounte d to $11,889,701, which re presented coverage of 2,929% over the $414,111 in debt service.

General Obligation Bonds

2013 General Obligation Refunding Bonds – On September 17, 2013, the voters and City Council approved the repayment of General Obligation Refunding Bonds originally issued in 2003. The Refunding Bonds were issued on November 1, 2013 in the prin cipal amount of $9,010,000 to refund, on a current basis, the City of Alameda General Obligation Bonds, Series 2003, and pay for costs of issuance of the Bonds. The 2003 Bonds were issued to finance the construction and renovation of various public libraries.

The bonds bear interest between 3% and 3.4%. The repayment of the bonds is secured by all non-restricted revenue of the City. Principal payments are due annual ly on August 1. Interest payments are due semi- annually on February 1
st and August 1st through August 1, 2033.

Leases and Loans Payable

Leases Payable – At June 30, 2021, the City held the following leases payable. Under the lease agreements, ownership of the capital assets reverts to the City at the end of the lease terms. Since the leases are in essence financing arrangements, the costs of the capital assets and the amounts of the lease terms have been included in the City’s financial statements.

2011 Fire Apparatus Lease Payable – On October 19, 2011, the City entered into a lease agreement in the amount of $1,750,000 with Oshkosh Capital to acquire two fire apparatus vehicles. The City agreed to pay the lease starting on October 19, 2012, with annual payments of $147,127, which includes an interest rate of 3.05%, for fifteen y ears. Balance of the lease as of June 30, 2021, was $795,671.

77 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 6 – Long-Term Debt (Continued)

2012 Fire Truck Lease Payable – On September 26, 2012, the City entered into a lease agreement in the amount of $1,965,726 with Oshkosh Capital to acquire two fire apparatus vehicles. The City agreed to pay the lease starting on September 26, 2013, with annual payments of $162,546, which includes an interest rate of 2.82%, for fifteen y ears. Balance of the lease as of June 30, 2021, was $1,019,548.

2014 Fire Apparatus Lease Payable – On July 1, 2014, the City en tered into a lease agreement in the amount of $673,799 with Oshkosh Capital to acquire one fire apparatus vehicle. The City agreed to pay the lease starting on August 5, 2015, with annual payments of $66,926, which includes an interest rate of 2.81% for ten years. Balance of the lease as of June 30, 2021 was $364,844.

The leased equipment had book values at June 30, 2021 as follows:

2011 2012 2014
Fire Apparatus Fire Trucks Fire Apparatus
Equipment 1,750,000$ 1,750,791$ 673,799$ Less: Accumulated Depreciation (1,137,500) (702,973) (466,044) Book Value 612,500$ 1,047,818$ 207,755$

HUD Section 108 Loan Refinance Series 2019-A – The City issued HUD Section Loan Refinancing Bonds of $4,906,000 on January 24, 2019 to refinan ce the outstanding portion of the City’s HUD Section 108 Loan, maturing on 08/01/2026, and 08/01/2027 and also to pay the costs of issuance of the Refinancing Loan. Principal payments are payable annually on August 1, and semi-annual interest payments are payable on February 1st and August 1st of each fiscal year. The outstanding balance as of June 30, 2021 is $4,104,000.

IBank Loan – On June 1, 2015, the City entered into an agreement to borrow $3,000,000 from the California Infrastructure and Economic Development Bank . Loan proceeds were received in Fiscal Year 2015-16 and will be used to finance construction of a new fire station. Principal and interest payments are due semi-annually on February 1 st and August 1 st through 2034. The loan bears interest of 2.287%. The outstanding balance as of June 30, 2021 is $2,434,646.

Alameda County EMS Liability – From 2005 to 2010, the County of Alameda provided Emergency Medical Services, First Responder Advanced Life Support, and Ambulance Transport Services to the City of Alameda. During this time, the City incurred an obligation of $3,621,887 to the County. On November 1, 2011, the County of Alameda and the City of Alameda entered into an agreement to repay this obligation using First Responder Advanced Life Support funding un til the debt is fully repaid. As of June 30, 2021, the outstanding balance is $1,534,362.

78 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 6 – Long-Term Debt (Continued)

D. Business-Type Activities Debt

Loan Payable

State Revolving Fund Loan 2004 – The City entered into a contract on August 12, 2004, to borrow funds from the State Water Resources Control Board. The funds are being used for a Sewer Replacement Project to correct infiltration and inflow. The maximum loan amount is $1,840,292 and bears interest at 2.6% per year for a term of twenty years. The balance as of June 30, 2021, was $196,836.

Revenue Bonds

Sewer Revenue Bonds 2012 Series A – On October 3, 2012, the City of Alameda Financing Authority issued Sewer Revenue Bonds 2012 Series A, in the original principal amount of $14,715,000, to repay the 1995 Sewer System Refinancing and Improvement Certificates of Participation and to finance improvements to the City’s municipal sewer system. The Bonds bear in terest between 2% and 4%, which are payable semi-annually in February and August. Principal payments of the Bonds commenced on August 1, 2013.

The pledge of sublease revenues ends upon repayment of the $16,828,522 in remaining debt service on the Bonds, which is scheduled to occur in 2042. As disclosed in the bond indenture documents, pledged future revenues are expected to provide coverage over debt service of 1.25 during the life of the Bonds. For Fiscal Year 2021, net revenues amounted to $8,657,289, which represented coverage of 11.28 over the $766,869 in debt service.

Revenue Bonds, Series 2010A/B (AMP Refinancing) – As described in an indenture agreement dated August 1, 2010, Revenue Bonds, Series 2010A/B were issued through Alameda Public Financing Authority on behalf of AMP to provide funds, together with certain other available monies, to 1) prepay the obligations of AMP for the Electric System Revenue Certificates of Participation Series 2000A, 2) prepay the obligations of AMP for the Taxable Electric System Revenue Certificates of Participation, Series 2000AT, 3) fund a deposit to the Common Reserve Account and 4) prepay the costs of issuance of the 2010 Bonds. Revenue Bonds, Series 2010A bear interest at 4.375 percent to 5.25 percent, payable January 1 and July 1 of each year. The Revenue Bo nds, Series 2010B bear interest at 1.829 percent to 6.517 percent, payable January 1 and July 1 of each year.

Principal on the Series 2010B Bonds is payable beginning July 1, 2011 and each succeeding July 1 until final maturity in 2027. Principal on the Series 2010A Bonds will be payable beginning July 1, 2027 and each succeeding July 1 until final maturity in 2030. The 2010 Bonds are subject to optional and mandatory sinking fund redemption prior to maturity. The 2010 Bonds are specia l obligations payable solely from electric revenues, other amounts held in the bond funds and accounts established pursuant to the indenture, and amounts on deposit in the Commo n Reserve Account. The initial book -entry principal obligation for the Series 2010A and Series 2010B was $8,700,000 and $22,985,000, respectively.

AMP does not have any debt that is direct borrowing or direct placement, and AMP does not have unused lines of credit for the year ended June 30, 2021.

79 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 6 – Long-Term Debt (Continued)

Both revenue bonds contain a rate covenant that AMP will at all times fix, prescribe and collect rates, fees and charges for the services and facilities of AMP during each fiscal year that will be at least sufficient to yield:

Adjusted Annual Revenues for such fiscal year at least equal to the sum of the following for such fiscal year:
a. Operating and Maintenance Cost
b. Adjusted Annual Debt Service
c. All other payments required to meet any ot her obligations of AMP which are charges, liens and encumbrances upon or payable from the Electric System Revenue Fund, including all amounts owed to any issuer of a Qualified Re serve Fund Credit Instrument then in effect and deposited in the Common Reserve Account under the terms of such Qualified Reserve Fund Credit Instrument and all amounts ow ing under subordinate debt, and Adjusted Annual Net Revenues for such fiscal year equal to at least 110% of Adjusted Annual Debt Service for such fiscal year.

If any event of default shall occur, then, and in each and every such case during the continuance of such event of default, the trustee may, and shall at the written direction of the owners of not less than a majority in aggregate principal amount of the bonds at the time outstanding, upon notice in writing to Alameda Municipal Power, declare the principal of all of the bonds then outstanding, and the interest accrued thereon, to be due and payable immediately, and upon any such declaration th e same shall become and shall be immediately due and payable, anythi ng in the indenture or in the bonds contained to the contrary notwithstanding.

Note 7 – Special Assessment Debt Without City’s Commitment

Special assessment districts in various parts of the City have issued debt to finance infrastructure improvements and facilities within their boundaries. The City is the collecting and paying agent for the debt issued by the districts, but has no di rect or contingent liability or moral obligation for the payment of this debt. Therefore, this debt is not included in general long-term debt of the City. The outstanding balance of each of these issues as of June 30, 2021 is as follows:

Description Maturity Date June 30, 2021
Alameda Landing Community Facilities District No. 13-1 9/1/2046 $ 15,355,000

80 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 8 – Net Position and Fund Balances
Net Position is measured on the full accrual basis, while Fund Balance is measured on the modified accrual basis.

A. Net Position
Net Position is the excess of all the City’s assets and deferred outflows over all its liabilities and deferred inflows, regardless of fund. Net Position is divided into three captions. These captions apply only to Net Position, which is determined at proprietary fund and the Government-wide level, and are described below.

Net Investment in Capital Assets describes the portion of Net Position which is represented by the current net book value of the City’s capital assets, less the outstanding balance of any debt issued to finance these assets.

Restricted describes the portion of Net Position which is restricted as to use by the terms and conditions of agreements with outside parties, governmental regulations, laws, or other restrictions which the City cannot unilaterally alter. These principally include developer fees received for use on capital projects, debt service requirements, and funds restricted for low and moderate housing purposes.

Unrestricted describes the portion of Net Position which is not restricted to use.

Fund Balances
Governmental fund balances represent the net current assets of each fund. Net current assets generally represent a fund’s cash and receivables, less its liabilities.

The City’s fund balances are classified in accordance with spending constraints imposed on the use of resources. For programs with multiple funding source s, the City prioritizes and expends funds in the following order: Restricted, Committed, Assigned, and Unassigned. Each category in the following hierarchy is ranked according to the degree of spending constraint:

Nonspendables represents balances set aside to indicate item s that do not represent available, spendable resources, even though they are a co mponent of assets. Fund balances required to be maintained intact, such as permanent funds, and assets not expected to be converted to cash, such as prepaids, notes receivable, and land held for redevelopment, are included. However, if proceeds realized from the sale or collection of nonspendable assets are restricted, committed or assigned, then Nonspendable amounts are required to be presented as a component of the applicable category.

Restricted fund balances have external restrictions impo sed by creditors, granto rs, contributors, laws, regulations, or enabling legislation which requires th e resources to be used only for a specific purpose.

Encumbrances and nonspendable amounts subject to restrictions are included along with spendable resources.

Committed fund balances have constraints imposed by form al action (through a resolution) of the City Council, which may be altered only by formal action of the City Council. Encumbrances and nonspendable amounts subject to council commitments are included along with spendable resources. 81 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 8 – Net Position and Fund Balances (Continued)
Assigned fund balances are amounts constrained by the City’s intent to be used for a specific purpose, but are neither restricted nor committed. Intent is expressed by the City Manager or its designee as authorized by an adopted City Council resolution and may be chan ged at the discretion of the City Council or its designee. This category includes encumbrances; Nonspendables, when it is the City’s intent to use proceeds or collections for a specific purpose, and residual fund balances, if any, of Special Revenue, Capital Projects and Debt Service Funds which have not been restricted or committed through a council resolution. The City Council has designated the City Manager or his designee to determine the amount of assigned fund balances.

Unassigned fund balance represents residual amounts that have not been restricted, committed, or assigned.

This includes the residual general fund balance and residual fund deficits, if any, of other governmental funds.

Detailed classifications of the City’s Fund Balances, as of June 30, 2021, are below:

Capital Other
General HOME Program B ase Reuse Improvement Alameda Governmental Classifications Fund Special Revenue Sp ecial Revenue Proje cts Point Funds Total Nonspendable:

Prepaids and deposits 40,832$ -$ -$ 1,191,999$ -$ 8,534$ 1,241,365$ Advances 896,713 896,713
Total Nonspendable 937,545 1,191,999 8,534 2,138,078 Restricted for:

Library improvements 606,471 606,471
Development activities 53,409,686 2,672,235 17,415,150 73,497,071 Streets and roads 10,453,715 10,453,715
Affordable housing 144 3,237,876 3,238,020
Public safety 2,073,901 2,073,901
Waste reduction 3,107,168 3,107,168
Assessment district 13,157,314 13,157,314
Tidelands 2,269,117 2,269,117
Transportation 2,915,136 2,915,136
Debt service 1,769,999 1,769,999
Total Restricted 144 53,409,686 606,471 2,672,235 56,399,376 113,087,912 Committed to:

Capital projects 1,803,754 1,803,754
Development activities 2,570,809 2,570,809
Community development 869,186 869,186
Culture and recreation 1,699,656 1,699,656
Library operations 4,873,776 4,873,776
Parking meter/garage 2,288,488 2,288,488
Total Committed 14,105,669 14,105,669
Assigned:

General government 499,224 499,224
Public safety 733,354 733,354
Ca
pital Projects 1,346,011 1,346,011
Economic uncertainty 3,460,500 3,460,500
Long-term obligations 10,850,922 10,850,922
Total Assigned 15,544,000 1,346,011 16,890,011
Unassigned:

Reserve policy 17,195,512 17,195,512
Residual fund balance in excess
of policy or fund balance deficits 39,398,538 39,398,538 Total Unassigned 56,594,050 - 56,594,050
Total Fund Balances 73,075,595$ 144$ 53,409,686$ 3,144,481$ 2,672,235$ 70,513,579$ 202,815,720$ 82 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 8 – Net Position and Fund Balances (Continued)

C. Fund Deficits

The Successor Agency Private Purpose Trust Fund had deficit net position in the amount of $37,628,252 at June 30, 2021. Future revenues and repayment of long-term debt are expected to offset this deficit.

The Workers’ Compensation Insurance Internal Servic e Fund had deficit net position in the amount of $2,847,484 at June 30, 2021. The deficit arose from a change in the confidence level of claims liabilities and future charges for services are expected to offset this deficit.

D. Closure of the Other Post-Employment Benefits Plan Trust Funds and Restatement of Net Position

The City implemented the provisions of Governme ntal Accounting Standards Board Statement (GASB) No. 84 – Fiduciary Activities during the year ended June 30, 2021. As a result, the City determined that the activities of the City of Alamed a Miscellaneous and Pre-1/1/2019 Safe ty OPEB Plan and the City of Alameda Post-1/1/2019 Safety OPEB Plan should no longer be reported in the respective Other Post- Employment Benefits Plan Trust Fund s, since the City does not have co ntrol of the assets of the PARS OPEB Plan as a whole. Therefore, the Other Post-E mployment Benefits Plan Trust Funds are no longer reported in the financial statements as of July 1, 2020.

GASB 84 also eliminated the agency fund type and established the custod ial fund type. As a result, the Assessment Districts Agency Fund is now reported as a custodial fund and beginning net position was restated and increased in the amount of $2,763,364.

Note 9 – Pension Plans

A. General Information About the CalPERS Pension Plans

For purposes of measuring the net pension liability a nd deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City’s California Public Employees Retirement System (CalPERS) Plans and additions to/deductions from the Plan’s fiduciary net position have been determined on the same basis as they are reported by CalPERS. For this purpose, benefit payments (including refunds of employee contri butions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

Plan Descriptions – All qualified permanent and probationary em ployees are eligible to participate in the City’s separate Safety (police and fire) and Mis cellaneous (all other) Plans, agent multiple-employer defined benefit pension plans admi nistered by CalPERS, which acts as a common investment and administrative agent for its participating member employers. Benefit provisions under the Plans are established by State statute and City resolution. CalP ERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website (www.CalPERS.ca.gov).

Benefits Provided – CalPERS provides retirement and disability benefits, annual cost of living adjustments and death benefits to plan member s, who must be public employees an d beneficiaries. Benefits are based on years of credited service, equal to one year of full time employment. Members with five years of total service are eligible to retire at age 50 with statutor ily reduced benefits. All members are eligible for non- duty disability benefits after 10 years of service. The death benefit is one of the following: the Basic Death benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law. 83 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 9 – Pension Plans (Continued)

The Plans’ provisions and benefits in effect at June 30, 2021 are summarized below:

Prior to On or After
Hire Date January 1, 2013 January 1, 2013
Benefit Formula 2% @ 55 2% @ 62
B enefi t vesti ng schedul e 5 years servi ce 5 years servi ce Benefit paym ents m onthly for life m onthly for life
Retirement age (range) 50 - 67+ 52 - 67+
Monthly benefits, as a % of annual salary 1.426% - 2.418% 1.000% - 2.500% Required em ployee contribution rates 8.868% 8.250%
Required em ployer contribution rates 8.947% 10.815%
Required UAL contribution $6,137,001
Prior to On or After
Hire Date January 1, 2013 January 1, 2013
Benefit Formula 3% @ 50 2.7% @ 57
B enefi t vesti ng schedul e 5 years servi ce 5 years servi ce Benefit paym ents m onthly for life m onthly for life
Retirement age (range) 50 - 55+ 50 - 57+
Monthly benefits, as a % of annual salary 3.000% 2.000% - 2.700% Required em ployee contribution rates 15.000% 11.500%
Required em ployer contribution rates 15.462% 21.462%
Required UAL contribution $10,767,394
Safety
M iscellaneous

Beginning in Fiscal Year 2018, CalPERS collects employ er contributions for the Plans as a percentage of payroll for the normal cost portion as noted in the rates above and as a dollar amount for contributions toward the unfunded liability (UAL). The dollar amounts are billed on an annual basis. The City’s required contributions for the unfunded liabili ty in the miscellaneous and safety plans for the year ended June 30, 2021 were $6,137,001 and $10,767,394, respective ly, which were made under the lump sum payment option.

Contributions – Section 20814(C) of the California Public Employees’ Retirement law requires that the employer contribution rates for all public employers are determined on an annual basis by the actuary and shall be effective on the July 1st following notice of a change in rate. Funding contributions for both Plans are determined annually on an actuarial basis as of June 30th by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the co sts of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rates of employees. The employees pay a percentage of their salaries toward the C ity’s required contribution. Employees within the miscellaneous plan pay 1.868% of th e employer’s contribution and employees within the safety plan pay

6.000% of the employer’s contribution, which are re flected in the rates above. Total employer required contribution amounts during the fiscal year ended June 30, 2021 were $9,318,477 for the miscellaneous plan and $15,122,079 for the safety plan. In addition, the City made an additional contribution of $5 million toward the Safety Plan’s UAL.

84 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 9 – Pension Plans (Continued)
Employees Covered – The following employees were covered by the benefit terms for each Plan as of the most recent actuarial valuation date of June 30, 2019 and measurement date of June 30, 2020:

Miscellaneous Safety
Inactive em ployees or beneficiaries currently receiving benefits 591 282 Inactive em ployees entitled to but not yet receiving benefits 362 65 Active employees 309 173
Total 1,262 520
Net Pension Liability – The City’s net pension liability for each Plan is measured as the total pension liability, less the pension plan’s fiduciary net position . The net pension liability of each Plan is measured as of June 30, 2020, using an annual actuarial valuation as of June 30, 2019 rolled forward to June 30, 2020 u
sing standard update procedures. A summary of principal assumptions and methods used to determine the total pension liability is shown below.

Actuarial Assumptions – The total pension liabilities as of the Ju ne 30, 2020 measurement date actuarial were determined using the following actuarial assumptions:

Miscellaneous Safety
Valuation Date June 30, 2019 June 30, 2019
Measurement Date June 30, 2020 June 30, 2020
Actuarial Cost Method Entry-Age Normal Cost Method Entry-Age Normal Cost Method Actuarial Assumptions:

Discount Rate 7.15% 7.15%
Inflation 2.50% 2.50%
Payroll Growth 2.75% 2.75%
Projected Salary Increase (1) (1)
Investment Rate of Return 7.15% (2) 7.15% (2)
Mortality
Derived using CalPERS' Membership data
for all funds (3)
Derived using CalPERS' Membership data
for all funds (3)
Post Retirement Benefit Increase
The lesser of contract COLA or 2.5% until
Purchasing Power Protection Allowance
Floor on Purchasing Power applies, 2.5%
thereafter
The lesser of contract COLA or 2.5% until
Purchasing Power Protection Allowance
Floor on Purchasing Power applies, 2.5%
thereafter
(1) Depending on age, serv ice and type of employment
(2) Net of pension plan investme nt expenses, including inflation (3) The mortality table used was developed based on CalPERS’ specific data. The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. Pre-retirement and post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from December 2017 that can be found on the CalPERS website.

The underlying mortality assumptions and all other actuarial assumptions used in the June 30, 2019 valuation were based on the results of an actuarial experience study fo r the period from 1997 to 2015, including updates to salary increase, mortality and retirement rates. Further details of the Experience Study can be found on the CalPERS website (www.CalPERS.ca.gov). 85 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 9 – Pension Plans (Continued)
Discount Rate- The discount rate used to measure the total pension liability for each Plan was 7.15%. The projection of cash flows used to determine the discount rate for each Plan assumed that contributions from all plan members in the Public Employees Retirement Fund (PERF) will be made at the current member contributions rates and that contributions from empl oyers will be made at statutorily required rates, actuarially determined. Based on those assumptions, each Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members for all plans in PERF.

Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability for each Plan.

The long-term expected rate of return on pension plan investments was determined using a building-block method in which expected future r eal rates of return (expected return s, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, staff took into account both short-term and long term market return expectations as well as the expected pension fund (Public Employees’ Retirement Fund) cash flows. Such cash flows were deve loped assuming that both member s and employers will make their required contributions on time and as scheduled in all future years. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11+ years) usin g a building-block approach. Using the expected nominal returns for both short-term and long-term, the pres
ent value of benefits was calculated for each fund. The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long- term returns.

The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses.

The table below reflects long-term expected real rates of return by asset class:

Asset Class (a)
Current
Target
Allocation
Real Return
Years 1 - 10 (b)
Real Return
Years 11+ (c)
Global Equity 50% 4.80% 5.98%
Fixed Income 28% 1.00% 2.62%
Inflation Assets 0% 0.77% 1.81%
Private Equity 8% 6.30% 7.23%
Real Assets 13% 3.75% 4.93%
Liquidity 1% 0% -0.92%
Total 100%
(a) In the CalPERS Comprehensive Annual Financial Report, Fixed Income is included in Global Debt Securities; Liquidity is included in Short-term Investments; Inflation Assets are included in both Global Equity Securities and Global Debt Securities.
(b) An expected inflation of 2.0% used for this period. (c) An expected inflation of 2.92% used for this period. 86 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 9 – Pension Plans (Continued)

Changes in the Net Pension Liability – The Changes in the Net Pension Liability for each Plan measured as of June 30, 2021 is as follows:

Miscellaneous Plan:

Increase (Decrease)
Total Pension Plan Fiduciary Net Net Pensio n
Liability Position Liabilit y/(Asset)
Balance at June 30, 2019 Measurement Date 303,695,243$ 221,079,220 $ 82,616,023 $ Changes in the year:

Service cost 5,012,281 5,012,281
Interest on the total pension liability 21,185,528 21,185,528 Differences between actual and expected experience (1,654,709) (1,654,709) Changes of assumptions
Net Plan to Plan Resource Movement
Contributions - employer 8,386,195 (8,386,195)
Contributions - employees 2,721,137 (2,721,137)
Net investment income 11,067,395 (11,067,395)
Benefit payments, including refunds of employee
contributions (16,491,161) (16,491,161)
Administrative expense (311,667) 311,667
Other Miscellaneous Income/(Expense)
Net changes 8,051,939 5,371,899 2,680,040
Balance at June 30, 2020 Measurement Date 311,747,182$ 226,451,119 $ 85,296,063 $ Safety Plan:

Increase (Decrease)
Total Pension Plan Fiduciary Net Net Pensio n
Liability Position Liabilit y/(Asset)
Balance at June 30, 2019 Measurement Date 474,336,508$ 294,819,559 $ 179,516,949 $ Changes in the year:

Service cost 7,366,903 7,366,903
Interest on the total pension liability 33,476,100 33,476,100 Differences between actual and expected experience 3,083,875 3,083,875 Changes of assumptions
Net Plan to Plan Resource Movement
Contributions - employer 13,496,482 (13,496,482)
Contributions - employees 3,589,299 (3,589,299)
Net investment income 14,693,325 (14,693,325)
Benefit payments, including refunds of employee
contributions (25,813,263) (25,813,263)
Administrative expense (415,623) 415,623
Other Miscellaneous Income/ (Expense)
Net changes 18,113,615 5,550,220 12,563,395
Balance at June 30, 2020 Measurement Date 492,450,123$ 300,369,779 $ 192,080,344 $ Total of Miscellaneous and Safety Plans 804,197,305$ 526,820,898 $ 277,376,407 $

87 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 9 – Pension Plans (Continued)

Sensitivity of the Net Pension Liability to Changes in the Discount Rate – The following presents the net pension liability of each Plan, calculated using the discount rate for each Plan, as well as what the net pension liability would be if it were calculated us ing a discount rate that is 1- percentage point lower or 1-percentage point higher than the current rate:

Miscellaneous Safety
1% Decrease 6.15% 6.15%
Net Pension Liability 123,036,725$ 256,661,857$ Current Discount Rate 7.15% 7.15%
Net Pension Liability 85,296,063$ 192,080,344$ 1% Increase 8.15% 8.15%
Net Pension Liability 53,808,514$ 138,890,353$

Pension Plan Fiduciary Net Position – Detailed information about each pension plans’ fiduciary net position is available in the separate issued CalPERS financial reports.

Pension Expense and Deferred Outflows/Inflows of Resources Related to Pension – For the year ended June 30, 2021, the City recognized pensio n expense of $9,284,108 and $28,703,086 for the Miscellaneous and Safety Plans, respectively, and when combined with the pension expense of the 1079 and 1082 Plans discussed in Note 9B below, the City recognized total pension expense of $1,464,439 during the year ended June 30, 2021. At June 30, 2021, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to measurement date 9,318,477$ -$ Changes in assumptions
Differences between expected and actual experience 116,840 (935,270) Net differences between projected and actual earnings on plan investments 1,356,156
Total 10,791,473$ (935,270) $
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to measurement date 20,122,079$ -$ Changes in assumptions 1,161,299 (464,563)
Differences between expected and actual experience 7,688,435 Net differences between projected and actual earnings on plan investments 2,428,380
Total 31,400,193$ (464,563) $
Miscellaneous
Safety

88 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 9 – Pension Plans (Continued)

Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to measurement date 29,440,556$ -$ Changes in assumptions 1,161,299 (464,563)
Differences between expected and actual experience 7,805,275 (935,270) Net differences between projected and actual earnings on plan investments 3,784,536
Total 42,191,666$ (1,399,833)$
Total - Both Plans

The amounts of $9,318,477 and $20,122,079 for the Miscellaneous and Safety Plans, respectively, reported as deferred outflows of resources related to contribut ions subsequent to the measurement date will be recognized as a reduction of the net pension liab ility in the year ended Ju ne 30, 2022. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Annual Amortization
Year Ended
June 30 Miscellaneous Safety Total
2022 (1,714,734)$ 3,494,148$ 1,779,414$ 2023 261,930 3,838,809 4,100,739
2024 1,086,339 2,272,457 3,358,796
2025 904,191 1,208,137 2,112,328
Total 537,726$ 10,813,551$ 11,351,277$

Subsequent Event - Reduction of CalPERS Discount Rate - In July 2021, CalPERS reported a preliminary

21.3% net return on investments fo r the 12-month period that ended June 30, 2021. Under the Funding Risk Mitigation Policy, approved by the CalPERS Boar d of Administration in 2015, the 21.3% net return will trigger a reduction in the discount rate used to calculate employer and Public Employees' Pension Reform Act (PEPRA) member contributions. The Funding Risk Mitigation Policy seeks to reduce CalPERS funding risk over time, in which CalPERS investment performance that significantly outperforms the discount rate will trigger adjustments to the disc ount rate, expected investment return, and strategic asset allocation targets. This is the first time it has been triggered. The discount rate, or assumed rate of return, will drop to 6.8%, from its current level of 7%.

Based on these preliminary fiscal year returns, the CalPERS has announced the funded status of the overall Public Employees Retirement Fund (PERF) is an estimated 82%. This estimate is based on a 7% discount rate. Under the new 6.8% discount rate, however, CalPERS indicated the funded status of the overall PERF drops to 80%., since existing assets are assumed to grow at a slightly slower rate annually into the future.

As intended under the Funding Risk Mitigation Policy, the lower discount rate increases the likelihood that CalPERS can reach its target over the longer term. The CalPERS Board of Administration will continue to review the discount rate through it s Asset Liability Management proces s during the rest of the calendar year.

CalPERS' final fiscal year 2021 investment perform ance will be calculated ba sed on audited figures and will be reflected in contribution levels for contracting cities, counties, and special districts in fiscal year 2024.
89 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 9 – Pension Plans (Continued)
B. Police and Fire Pension Plans
The City sponsors and administers two single employer defined benefit retirement plans for certain police and fire department retirees. Police and fire employees who entered service before 1953 participate in Plan 1079, a closed plan consisting of 9 participants, all of whom are retired employees or beneficiaries.

Employees with twenty-five or more years of service receive monthly pension benefits equal to one-half the monthly salary paid to current City employees of the rank held by the retiree one year prior to the date of retirement. Employees retired after ten, but before twenty-five years of service receive monthly pension benefits in the proportion that the number of service years bears to twenty-five. Qualified surviving spouses receive the retirees’ monthly pension benefits for li fe. Upon remarriage, the qu alified surviving spouse receives one-half of the retiree’s monthly pension benefits. Employees who became disabled from service related causes receive monthly pension benefits equal to one half the monthly salary paid to current City employees of the rank held by the disabled employee on the date of their disability, reduced by any workers’ compensation benefits received.

Police and fire employees who entered service on or before January 1, 1953 and did not transfer to CalPERS participate in Plan 1082, a closed plan which consis ts of one retired employee. At June 30, 2021, the monthly pension benefit was $2,736, adjusted annu ally by a maximum of 2% per year cost-of-living adjustment. Upon the death of a re tiree, the qualified spouse receives one-half of the retiree’s monthly pension benefit for life or until remarriage.

Total Pension Liability – The City recognizes its total pension liability, rather than a net pension liability for each Plan. In order for the City to recognize a net pension liability, assets must be accumulated in a trust that meets all of the following criteria:
 Contributions from the employer and any nonemployer contributing entities, and earnings thereon, must be irrevocable.
 Plan assets must be dedicated to providing pensions to Plan members in accordance with the benefit terms.
 Plan assets must be legally protected from the creditors of the employer, nonemployer contributing entities, the Plan administrator, and Plan members.

No assets are accumulated in a trust that meets all of the above criteria. Accordingly, the City’s total pension liability for each Plan is not reduced by any assets accumulated in a trust that meets the criteria and the City must report its total pension liability for each Plan.
90 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 9 – Pension Plans (Continued)

The City’s total pension liability wa s determined by an actuarial valuation as of June 30, 2020 rolled forward to June 30, 2021 (the meas urement date). Changes in the City’s total pension liability were as follows:

1079 Plan:

Total pension liability - June 30, 2020 4,841,157$
Changes for the year
Interest 108,574
Difference between expected and actual experience 686,557 Change of assumptions 592,247
Benefit payments (819,163)
Net increase (decrease) in total pension liability 568,215 Total pension liability - June 30, 2021 5,409,372$
1082 Plan:

Total pension liability - June 30, 2020 866,614$
Changes for the year
Interest 20,834
Difference between expected and actual experience 8,584 Change of assumptions 47,643
Benefit payments (32,512)
Net increase (decrease) in total pension liability 44,549 Total pension liability - June 30, 2021 911,163$
Total of 1079 & 1082 Plans 6,320,535$

Actuarial Assumptions – Actuarial assumptions used to determine the total pension liability for each Plan in the June 30, 2020 valuation applied to all periods included in the measurement, are as follows:

Actuarial cost method N/A; all participants have retired Inflation 2.75%
Discount Rate 2.10%
Cost of Living Increase 2.00%
Mortality According to the pre-retirement mortality rates under the CalPERS pension plan updated to reflect the most
recent experience stud
y with mortality improvements
using Mortality Improvement Scale MP 2014 with 15
year convergence to 2022

91 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 9 – Pension Plans (Continued)

Discount Rate – A discount rate of 2.10% was applied in th e measurement of the total pension liability.

This discount rate is the average, ro unded to 5 basis points, of the rang e of three 20 year municipal bond rate indices: S&P Municipal Bond 20 Year High Grade Rate Index, Bond Buyer 20-Bond GO index, Fidelity GO AA 20 Year Bond Index.

Change of Assumptions – For the measurement date of June 30, 2021, the discount rate reduced from

2.45% to 2.10% for both Plans, and for Plan 1079, the survivor benefit increased from 50% of the retiree’s benefit to 100% of the retiree’s benefit.

Sensitivity of the Total Pension Liability Calculated Using the Discount Rate – The following presents the total pension liability calculated using the discount rate of 2.10%, as well as what the total pension liability would be if it were calculated using a discount rate that is 1% lower or 1% higher than the current rate at June 30, 2021:

Current
1% Decrease Discount Rate 1% Increase
Total pension liability:
1079 Plan 5,728,736$ 5,409,372 $ 5,121,681 $
1082 Plan 1,070,721 911,163 784,415
Total both plans 6,799,457 $ 6,320,535 $ 5,906,096 $

Pension Expense – For the year ended June 30, 2021, the City recognized pension expense for Plan 1079 and Plan 1082 of $1,387,378 and $77,061, respectively.

C. Other Retirement Systems

The Omnibus Budget Reconciliation Act of 1990 (OBRA) mandates that public sector employees who are not members of their employer’s exis ting retirement system as of Januar y 1, 1992, be covered by either Social Security or an alternative plan. Effective January 1, 1995, the City contracted with the Public Agency Retirement System (PARS), to maintain a defined contribution plan. This Plan covers part-time, seasonal and temporary employees as well as all employees not covered by another retirement system. All eligible employees, covered by the Plan, are fully vested. Employer liabilities are limited to the amount of current contributions. The City is responsible for determining the provisions of the Plan, directing distributions, and establishing investment policy for the Plan assets.

Under PARS, employees contribute 6% and the City contributes 1.5% of the employee’s salary each pay period. For the fiscal year ending June 30, 2021, total contributions of $213,053 were made based on a total amount of covered compensation of $2,840,707.

One of the City’s part-time employees elected to be covered under Soci al Security, which requires this employee and the City to each contribute 6.2% of th e employee’s pay. Total contributions to Social Security during the year ended June 30, 2021, amounted to $3,410, of which the City paid 50%.

92 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 9 – Pension Plans (Continued)

D. Deferred Compensation Plans

City employees may defer a portion of their compen sation under four separate, optional City sponsored deferred compensation plans created in accordance with Internal Revenue Code Section 457. Under these Plans, participants are not taxed on the deferred por tion of their compensation until distributed to them; distributions may be made only at termination, retirement, death or in an emergency as defined by the Plans.

The City has Deferred Compensation Plan administra tion agreements with ICMA, California Public Employees Retirement System and Nationwide Retireme nt Solutions, Inc. comp anies to provide for the administration and management of employees’ deferre d compensation plan assets. These agreements incorporate changes in the laws and IRS regulations governing deferred compensation plan assets, which require plan assets to be held for the exclusive benefit of plan participants and their beneficiaries. Since the assets held under these plans are not the City’s property and are not subject to claims by general creditors of the City, they have been excluded from these financial statements.

Note 10 – Post-Employment Health Care Benefits

A. General Information about the City’s Other Post-Employment Benefit (OPEB) Plans

Plan Description – The City provides medical and dental benefits to retirees through CalPERS as specified below under the City of Alameda Miscellaneous and Pre-1/1/2019 Safety OPEB Plan and the City of Alameda Post-1/1/2019 Safety OPEB Plan, agent multiple-employer defined benefit health care plans. The City is responsible for establishing and amending the funding policy of the Plans. The Plans do not issue financial statements. Separately issued financial statements of the benefit Plans are available from CALPERS at P.O. Box 942709, Sacramento California 94229-2709.

Prior to July 1, 2018, the City ha d one OPEB Plan, but active Safety employees as of January 1, 2019 transferred to the new Post-1/1/2019 Safety OPEB Plan.

The City established an irrevocable trust for each Plan with Public Agency Retirement Services (PARS) to fund its retiree health benefits. On March 1, 2014, the City adopted the Public Agencies Post-Employment Benefits Trust (PARS) to prefund other post-employm ent benefits (OPEB). The Trust is an irrevocable trust and qualifies as an Internal Revenue Section 115 trust. Investments of funds held in Trust are governed by the Investment Guideline Document for the investment account and by the agreement for administrative services with PARS, rather than the general provision s of the California Government Code or the City’s investment policy. The City elected a discretionary investment approach, which allows the City to maintain oversight of the investment manageme nt, control on target yield and the portfolio’s risk tolerance, under the Moderate Index PLUS and Balanced Index PLUS in vestment options. Contributions to the trusts are made annually according to the City’s OPEB funding policy.

The City is the Plan administrator, while PARS administers the investment trusts. The City’s OPEB Plans do not issue separate financial statements. PARS issues a separate annual financial report and copies of the report may be obtained by writing to PARS at 4350 Von Karman Ave., Suite 100, Newport Beach, CA 92660.

93 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 10 – Post-Employment Health Care Benefits (Continued) Eligibility Requirements and Benefits Provided – The following is a summary of Plan eligibility requirements and benefits by employee group as of June 30, 2021:

Eligibility requires retiring from the City under CalPERS typically on or after age 50 (52 for PEPRA employees) with at least 5 years of CalPERS service or disability retirement.

The City’s contribution for medical coverage for Miscellaneous employees is the Public Employees’ Medical and Hospital Care Act (PEHMCA) minimum required contribution (MRC) - $143 per month in 2021.

The City’s contribution for Safety employees varies depending on bargaining group, date of retirement and date of hire as follows:

Employees Retiring Prior to January 1, 2011
The City pays the full premium cost for the retiree and any cove red spouse. If Alameda Police Officers Association (APOA) employee was hired prior to July 1, 1995, the employee was required to have at least 15 years of City service. If APOA, Alameda Police Management Association (APMA), International Association of Firefight ers Local 689 (IAFF), or Alameda Fire Chiefs Association (AFCA) employee was hired on or after July 1, 1995, the employee was required to have at least 20 years of City service. Employees that do not meet the service requirement at the time of retirement receive the PEMHCA MRC.

Employees Retiring On or After January 1, 2011
If the employee was hired on or prior to June 7, 2011, the City pays up to the higher of the Kaiser or Blue Shield Bay Area two-party rate. Employees with less than 5 years of City service receive the PEMHCA MRC. If the employee was hired after June 7, 2011, the City pays up to the higher of the Kaiser or Blue Shield rate for single coverage if the employee has at least 10 years of City service.

Employees with less than 10 years of City service at the time of retirement receive the PEMHCA MRC. Surviving spouses are eligible to continue coverage after the death of the retiree and receive a similar contribution.

Dental Benefits - Full dental benefits are provided to Safety employees including spouse coverage.

Employees Covered by Benefit Terms – Membership in the Plans consisted of the following at the actuarial valuation date of June 30, 2020:

Miscellaneous and Pre-1/1/2019 Safety Plan Membership – As described in the table in Note 10A, Plan membership varies based on different employee bargaining groups. As of the June 30, 2020 valuation date, membership in the OPEB Plan consisted of the following:

Active employees 333
Inactive employees or beneficiaries currently
receiving benefit payments 376
Inactive employees entitled to but not yet
receiving benefit payments 255
Total 964
94 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 10 – Post-Employment Health Care Benefits (Continued)

Post-1/1/2019 Safety Plan Membership – As of the June 30, 2020 valuation date, membership in the Post-2018 Safety OPEB Plan consisted of the following:

Active employees 177
Inactive employees or beneficiaries currently
receiving benefit payments 14
Inactive employees entitled to but not yet
receiving benefit payments 2
Total 193

B. Net OPEB Liability

Actuarial Methods and Assumptions –
The total OPEB liability for each Plan was determined by an actuarial valuation as of June 30, 2020, rolled forward to June 30, 2021 using standard update procedures.

The Miscellaneous and Pre-1/1/2019 Safety Plan valuation used the following actuarial assumptions applied to all periods included in the measurement, unless otherwise specified:

Actuarial Assumptions
Valuation Date June 30, 2020
Measurement Date June 30, 2021
Actuarial Cost Method Entry Age Normal Cost, level percent of pay Actuarial Assumptions:

Discount Rate 3.09%
Inflation 2.75%
Payroll Growth 2.75%, plus merit increases
Investment Rate of Return 5.89%
Mortality Rate
CalPERS 2014 experience study for the CalPERS pension plan projected fully generational Scale MP-2014 modified to converge to ultimate rates in 2022
Healthcare Trend Rates 6.5% in 2021 and will decline to 4.5% in 2025 and later years Dental Trend Rate 3.00%

95 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 10 – Post-Employment Health Care Benefits (Continued)

The Post-1/1/2019 Safety Plan valuation used the following actuarial assumptions applied to all periods included in the measurement, unless otherwise specified:

Actuarial Ass umptions
Valuation Date June 30, 2020
Measurement Date June 30, 2021
Actuarial Cost Method Entry Age Norm al Cost, level percent of pay Actuarial Assum ptions:

Discount Rate 3.25%
Inflation 2.75%
Payroll G rowth 2.75%, plus merit increases
Investm ent Rate of Return 6.22%
Mortality Rate
CalPERS 2014 experience study for the CalPERS pension plan projected fully generational Scale MP-2014 modified to converge to ultimate rates in 2022 Healthcare Trend Rates 6.5% in 2021 and will decline to 4.5% in 2025 and later years Dental Trend Rate 3.00%

The long-term expected rate of return on OPEB pl an investments was determined using a building-block method in which expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected futu re real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:

Miscellaneous and Pre-1/1/2019 Safety Plan
Long-Term
Target Expected Real
Asset Class Allocation Rate of Return
Moderate Plus
Equity 50.0% 7.08%
Fixed Income 45.0% 3.84%
Cash 5.0% 2.40%
Total 100.0%
Post-1/1/2019 Safety Plan
Long-Term
Target Expected Real
Asset Class Allocation Rate of Return
Balanced Plus
Equity 60.0% 7.08%
Fixed Income 35.0% 3.86%
Cash 5.0% 2.40%
Total 100.0%

96 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 10 – Post-Employment Health Care Benefits (Continued) Discount Rate – The discount rate used to measure the total OPEB liability was 3.09% for the Miscellaneous and Pre-1/1/2019 Safety Plan and 3.25% for the Post-1/1/2019 Safety Plan, based on a blended rate of asset expected rates of return using the average of three 20 year municipal bond rate indices: S&P Municipal Bond 20 Year High Grade Rate Index, Bond Buyer GO 20-Bond Municipal Bond Index, and Fidelity 20 Year GO Municipal Bond Index. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actu arially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be availa ble to make all projected OPEB payments for current active and inactive employees and benefici aries. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability.

Changes in Actuarial Assumptions – The assumptions for both Plans changed from the measurement date June 30, 2020 to the measurement date June 30, 2021 as follows:
 The discount rate was updated to reflect the results of the crossover test – o Miscellaneous and Pre-1/1/2019 Safety Plan decreased from 3.64% to 3.09% o Post-1/1/2019 Safety Plan decreased from 3.47% to 3.25%  Medical trend rates were decreased to an initial trend rate of 6.5% trending down to 5.0% C. Changes in Net OPEB Liability
The changes in the net OPEB liability for the Miscellaneous and Pre-1/1/2019 Safety Plan follows:

Total OPEB Plan Fiduciar y Net OPEB
Liability Net Position Liabilit y/(Asset)
(a) (b) (a) - (b)
Balance at June 30, 2020 75,689,659$ 4,381,974$ 71,307,685$ Changes Recognized for the Measurement Period:

Service Cost 644,219 644,219
Interest on the total OPEB liability 2,704,008 2,704,008 Changes of benefit terms
Changes of assumptions 4,046,759 4,046,759
Differences between expected and actual experience 5,250,940 5,250,940 Contributions from the employer 4,132,821 (4,132,821)
Net investment income 872,495 (872,495)
Administrative expenses (20,219) 20,219
Benefit payments (4,132,821) (4,132,821)
Net changes 8,513,105 852,276 7,660,829
Balance at June 30, 2021 (Measurement Date) 84,202,764$ 5,234,250$ 78,968,514$ Increase (Decrease)
97 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 10 – Post-Employment Health Care Benefits (Continued) The changes in the net OPEB liability for the Post-1/1/2019 Safety Plan is as follows:

Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
(a) (b) (a) - (b)
Balance at June 30, 2020 56,575,622$ 10,940,718$ 45,634,904$ Changes Recognized for the Measurement Period:

Service Cost 3,959,737 3,959,737
Interest on the total OPEB liability 2,089,924 2,089,924 Changes of benefit terms
Changes of assumptions (1,654,652) (1,654,652)
Differences between expected and actual experience (9,353,708) (9,353,708) Contributions from the employer 2,470,986 (2,470,986)
Net investment income 2,710,975 (2,710,975)
Administrative expenses (52,928) 52,928
Benefit payments (619,278) (619,278)
Net changes (5,577,977) 4,509,755 (10,087,732)
Balance at June 30, 2021 (Measurement Date) 50,997,645$ 15,450,473$ 35,547,172$ Total for Both Plans 135,200,409$ 20,684,723$ 114,515,686$ Increase (Decrease)
Fiscal Year 2021 contributions for each Plan were comprised of the following:

Miscellaneous
and Pre-1/1/2019 Post-1/1/2019
Safety Plan Safety Plan
Premium Payments 3,200,987 $ 567,954 $
Prefunding Contributions 1,851,708
Implicit Subsidies 931,834 51,324
Total Contributions 4,132,821 $ 2,470,986 $ 98 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 10 – Post-Employment Health Care Benefits (Continued)

D. Sensitivity of the Net OPEB Liability to Changes in the Discount Rate and Healthcare Cost Trend Rates

The following presents the net OPEB liability of the City, as well as what the City’s net OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower or 1-percentage-point higher than the current discount rate:

Miscellaneous and Pre-1/1/2019 Safety Plan:

Net OPEB Liability/(Asset)
Current
Discount Rate -1% Discount Rate Discount Rate +1%
(2.09%) (3.09%) (4.09%)
92,443,702$ 78,968,514 $ 68,337,924 $ Post-1/1/2019 Safety Plan:

Net OPEB Liability/(Asset)
Current
Discount Rate -1% Discount Rate Discount Rate +1%
(2.25%) (3.25%) (4.25%)
46,122,557$ 35,547,172$ 27,446,054$

The following presents the net OPEB liability, as well as what the net OPEB liabi lity would be if it were calculated using healthcare cost trend rates that are 1- percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates:

Miscellaneous and Pre-1/1/2019 Safety Plan:

Net OPEB Liability/(Asset)
1% Decrease Current Rate 1% Increase
(5.50% HMO/5.50% PPO (6.50% HMO/6.50% PPO (7.50% HMO/7.50% PPO decreasing to decreas ing to decreasing to

3.50% HMO/3.50% PPO) 4.50% HMO/ 4.50% PPO) 5.50% HMO/5.50% PPO) 67,545,382$ 78,968,514 $ 93,368,841 $

Post-1/1/2019 Safety Plan:

Net OPEB Liability/(Asset)
1% Decrease Current Rate 1% Increase
(5.50% HMO/5.50% PPO (6.50% HMO/6.50% PPO (7.50% HMO/7.50% PPO decreasing to decreasing to decreasing to

3.50% HMO/3.50% PPO) 4.50% HMO/ 4.50% PPO) 5.50% HMO/5.50% PPO) 25,535,054$ 35,547,172$ 49,142,621$ 99 City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 10 – Post-Employment Health Care Benefits (Continued)

E. OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB

For the year ended June 30, 2021, the City recognized OPEB expense for the Miscellaneous and Pre-1/1/2019 Safety Plan of $5,625,529 and recognized OPEB expense for the Post-1/1/2019 Safety Plan of $4,638,314.

At June 30, 2021, the City reported deferred inflows of resources related to OPEB from the following sources:

Miscellaneous and Pre-1/1/2019 Safety Plan:

Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between ex pected and
actuarial ex periences on liability 4,200,752$ - $ Net differences between projected and
actual earnings on plan investments (343,039)
Changes of assum ptions 3,237,407
Total 7,438,159$ (343,039)$

Post-1/1/2019 Safety Plan:

Deferred Outflows Deferred Inflows
of Resources of Resources
Differences between ex pected and
actuarial ex periences on liability. -$ (10,231,658)$ Net differences between projected and
actual earnings on plan investments (1,517,616)
Changes of assum ptions 7,543,459 (1,516,764) Total 7,543,459$ (13,266,038)$ Total - Both Plans 14,981,618$ (13,609,077)$

100
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 10 – Post-Employment Health Care Benefits (Continued)

Amounts reported as deferred inflows of resources rela ted to OPEB will be reco gnized as part of OPEB expense as follows:

Miscellaneous and Pre-1/1/2019 Safety Plan:

Y ear Annual
Ended June 30 Am ortization
2022 1,797,586$
2023 1,801,255
2024 1,756,588
2025 1,739,691
Total 7,095,120$

Post-1/1/2019 Safety Plan:

Y ear Annual
Ended June 30 Am ortization
2022 (725,120)$
2023 (725,120)
2024 (668,874)
2025 (726,317)
2026 (331,954)
Thereafter (2,545,194)
Total (5,722,579)$

Note 11 – Risk Management

The City manages risk by participat ing in the public entity risk pools described below and by retaining certain risks.

Public entity risk pools are formally organized, and separate entities established under the Joint Exercise of Powers Act of the State of California. As separate legal entities, those entities exercise full powers and authorities within the scope of the related Joint Powers Agreements, in cluding the preparation of annual budgets, accountability for all funds, the power to ma ke and execute contracts and the right to sue and be sued. Each risk pool is governed by a board consisting of represen tatives from member municipalities.

Each board controls the operations of the respective risk pool, incl uding selection of management and approval of operating budgets, independent of any influence by member municipalities beyond their representation on that board. Obligations and liabilities of these risk pools are not the City’s responsibility.

101
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 11 – Risk Management (Continued)
A. Risk Coverage
The City is a member of the California Joint Powers Risk Management Authority (CJPRMA), which covers general liability claims. The City has a self-insured retention of $500,000 per claim. Once the self-insured retention is met, CJPRMA becomes responsible f
or payment of all claims up to the limit. During the fiscal year ended June 30, 2021, the City contributed $1,379,713 for coverage during the current year.

The City is a member of the Local Agency Work ers’ Compensation Excess Joint Powers Authority (LAWCX), which covers workers’ compensation claims up to statutory limits. The City has a self-insured retention of up to $500,000 per cl aim. During the fiscal year ended June 30, 2021, the City contributed $587,690, for current year coverage. In addition, th e LAWCX Board of Directors approved the $250,000 Pool Deficit Curing and Assessment Plan (Plan) on June 5, 2018. The Plan wa s implemented to collect additional contributions for prior program years from 1994 through 2004, and only impacted members who participated in those years. The assessments were billed on July 1, 2019. Members had two payment options: 1) pay the allocated assessment amount in te n (10) equal annual installments beginning July 1, 2019, or 2) receive a 10% discount off the allocated amount if the entire balance was paid in full by August 15, 2019. The City of Alameda’s allocated assessment was $452,731 and the City elected option one, with the first payment made in Fiscal Year 2020. The balance due as of June 30, 2021 is $362,185.

The following types of loss risks are covered by the ab ove authorities under the terms of their respective joint powers agreements and through commercial insurance policies as follows:

Type of Coverage Coverage Limits
Liability 40,000,000$
Auto - Physical damage 10,000,000$
Workers’ Compensation Statutory Limits
Property Coverage - All Risk of Direct Physical Loss or Damage excluding earthquake and flood 400,000,000$
Property Coverage - Boiler & Machinery 100,000,000$
Computer Software Self-Insured
Terrorism 10,000,000$
Vessel 1,000,000$
Information Security and Privacy, with Electronic Media Liabilit
y (Cyber) 5,000,000$
Underground Storage Tank 1,000,000$
B. Insurance Internal Service Funds
Generally accepted accounting principles require munici palities to record a liabili ty for uninsured claims and to reflect the current portion of this liability as an expense in the financial statements. As discussed above, the City has coverage for such claims, but it h as retained the risk for the self-insured retention, or uninsured portion of these claims.
102
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 11 – Risk Management (Continued)
The City’s liability for uninsured general liability clai ms, including claims incu rred but not reported, is reported in the City’s General Liability Insurance Internal Service Fund and the Alameda Municipal Power Enterprise Fund. The liability is based on an indepe ndent actuarial study prepared semi-annually and was computed using an 80% confidence level for the years ended June 30th as follows:

June 30, 2021 June 30, 2020
Beginning balance 6,566,513 $ 4,950,744 $
Increase (decrease) in estimated liability for prior year claims (858,078) 2,062,232 Claims paid in current year (80,982) (446,463)
Ending balance 5,627,453 $ 6,566,513 $
Current portion 2,094,094 $ 1,752,837 $

The change in the Workers’ Compensation claims liabil ity, including claims incurr ed but not reported, is reported in the City’s Workers’ Compensation Internal Service Fund and Alameda Municipal Power Enterprise Fund. The liability is based on an indepe ndent actuarial study prepared semi-annually and was computed using an 80% confidence level as follows:

June 30, 2021 June 30, 2020
Beginning balance 16,132,924$ 10,918,683$
Increase (decrease) in estimated liability for prior year claims 1,880,384 7,331,005 Claims paid in current year (2,465,652) (2,116,764)
Ending balance 15,547,656$ 16,132,924$
Current portion 4,573,560$ 3,311,834 $

The Alameda Municipal Power Fund (AMP) accounts fo r $1,128,428 of the total claims liability. The remainder of the liability is account ed for in the General Liability In surance and Workers’ Compensation Insurance Internal Service Funds.

The City’s claims settlements have not exceeded in surance coverage for the past three fiscal years.

103
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 12 – Alameda Municipal Power Joint Ventures
A. General
AMP participates in joint ventures through Joint Powers Authorities (J PAs) established under the Joint Exercise of Powers Act of the State of California. As separate legal entities, these JPAs exercise full powers and authorities within the scope of the related Joint Powers Agreement, including the preparation of annual budgets, accountability for all funds, the power to ma ke and execute contracts and the right to sue and be sued. Obligations and liabilities of the JPAs are not those of AMP and the other participating entities unless assumed by them.

Each JPA is governed by a board consisting of re presentatives from each memb er agency. Each board controls the operations of its respective JPA, including selection of management and approval of oper ating
budgets, independent of any influence by member agencies beyond their representation on the board.

AMP is a member of NCPA, a joint powers agency which operates under a joint powers agreement among 15 public agencies (AMP, BART, Biggs, Gridley, Heal dsburg, Lompoc, Palo Alto, Ukiah, Lodi, Port of Oakland, Redding, Roseville, Shasta Lake, Sili con Valley Power, Truckee-Donner PUD). Turlock Irrigation District withdrew from NCPA on April 1, 2011. The City of Shasta Lake was added as a new m e m b e r i n 2 0 1 6 . T h e p u r p o s e o f N C P A i s t o u s e the combined strength of its members to purchase, generate, sell and interchange electric energy and cap acity through the acquisition and use of electrical generation and transmission facilities, as well as to optimize the use of those facilities and the member’s position in the industry. Each agency member has agreed to fund a pro rata share of certain assessments by NCPA and certain members have entered into take -or-pay power supply contracts with NCPA. While NCPA is governed by its members, none of its obligations are tho se of its members unless expressly assumed by them.

Amounts paid by AMP, net of refunds, to NCPA during the fiscal years ending June 30, 2021 and 2020 for purchased power were $30,296,114 and $32,246,283, respectively. Ad ditionally, purchased power was reduced by a refund of $538,732 and $310,155 fo r power exchange distribution and budget settlement monies returned to the NCPA General Operating Reserve (GOR), for the fiscal years ended June 30, 2021 and 2020, respectively.

AMP receives no income from NCPA, and does not partic ipate in all of its projects. Further, NCPA does not measure or determine AMP’s equity in NCPA as a whole. NCPA reports only AMP’s share of its General Operating Reserve, comprised of cash and investments, and AMP’s share of those projects in which AMP is a participant. These amounts are reflected in the financial statements as Investment in Joint Venture -
Share of Certain NCPA Projects and Reserve.

The changes in AMP’s share in NCPA projects and reserve are set forth below:

June 30, 2021
Beginning balance 10,572,051 $
Increase (decrease) in equity in NCPA projects 836,382
Ending balance 11,408,433$
104
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 12 – Alameda Municipal Power Joint Ventures (Continued) AMP’s interest in NCPA Projects and Reserve, as computed by NCPA, is set forth below:

General Operation Reserve 6,541,474$
Purchased Power & Transmission 1,757
Share of Scheduling Coordination Balancing Account 2,582,851 Share of Congestion Revenue Rights (CRR) 230,478
Associated Member Services 113,328
Market Purchase Program (MPP) Deposit 25,536
Subtotal 9,495,424
Alameda Municipal Power's share of NCPA
Power Projects:

Geothermal Projects/Power Line 1,091,430
Calaveras Hydroelectric Project No 349,755
Combustion Turbine Project No. 1 383,816
Combustion Turbine Project No. 2 88,008
Total $11,408,433
The General Operating Reserve represents AMP’s portion of funds which resulte d from the settlement in
prior years of issues with financial consequences and reconciliations of several prior years’ budgets for programs. These funds are available on demand and earn interest.

Members of NCPA may participate in an individual project of NCPA without obligation for any other project. Member assessments collected for one project may not be used to finance other projects of NCPA without the member’s permission.

B. Projects in which Alameda Municipal Power is a Participant Geothermal Projects - A power purchase agreement with NCPA obligates AMP for 18.31469 percent of the debt service and the operating costs for two geothermal steam powered generating plants, Plant Number 1 and Plant Number 2, located in the Geysers area in Northern Califo rnia. In conjunction with these payments, AMP is entitled to receive 16.8825 percent of the output from these facilities. NCPA continues to pursue alternatives for improving and exte nding steam field reservoi r performance, including supplemental water reinjection, plant equipment modi fications, and changes in operating methodology.

NCPA has increased steam production in the vicinity of reinjection wells and ha s evaluated a number of alternatives to increase water reinjection at strategic locations.

Calaveras Hydroelectric Project - NCPA contracted to finance, manage, construct, and operate Hydroelectric Project Number One for the licensed owne r, Calaveras County Water District. In exchange, NCPA has the right to the electric output of the project for 50 years starting in February 1982 and also has an option to purchase power from the project in excess of the District’s requirements for the subsequent 50 years, subject to regulatory approval. Debt service pa yments to NCPA began in February 1990 when the project was declared substantially complete and power was delivered to the participants. AMP is entitled to receive 10.0 percent of output from facility. The debt obligation in creased to 11.582 percent as other members have opted out and a reallocation was done for the remaining members. 105
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 12 – Alameda Municipal Power Joint Ventures (Continued)

Combustion Turbine Project No. 1 - In October 1984, NCPA financed a five‐unit, l25‐megawatt combustion turbine project. The project, built in three member cities including Alameda, began full commercial operation in June 1986 and provides reserve and peaking power. During August 2010, phase two of the first amendment to the NCPA power purchase agreement finalized th e transfer of ownership of two NCPA electricity generating units to the City of Roseville due to a misalignment of ISO control areas. The transfer reduced the generation output of the project to 74 MW, and increased the entitlement share to 21.82 percent. Although AMP’s project percentage share increases, its resulting generating capacity entitlement remains constant at

16.05 MW.

Combustion Turbine Project No. 2 (Steam Injected Gas Turbine Project) - AMP is a participant in NCPA’s 49.8 megawatt Steam Injected Gas Turbine (STIG) project which was built under turnkey contract near the City of Lodi an d declared substantially complete on Apri l 23, 1996. In 2010, the NCPA issued 2010 Refunding Series A Bonds for $5 5,120,000 for the purpose of provid ing funds to refund all of the Refunded 1999 Bonds, to fund a deposit to the 2010 Series debt service reserve account and to pay cost of issuance of the 2010 Series A Bonds. Under the NC PA power purchase agreement, AMP is obligated to pay 19 percent of the debt service for the STIG project.

On December 20, 2019, NCPA issued Capital Facilities Revenue Bonds, 2019 Refunding Series A, in the amount of $20,450,000 with an average interest rate of 5.0% to refund $25,450,000 of outstanding Capital Facilities Revenue Bonds, 2010 Refundi ng Series A with an average in terest rate of 5.1249%. The net proceeds were used to purchase US government securities. Those securities were deposited in an irrevocable trust with an escrow agent to provide for all future debt service payments on the old bonds. As a result, the old bonds are considered defeased. The outstanding 2010 Series A Bonds were called for redemption on February 1, 2020.

On April 2, 2019, NCPA issued Hydroelectric Project Number One Revenue Bonds, 2019 Refunding Series A, in the amount of $39,250 ,000 with an average interest rate of 4.9126% to refund $52,845,000 of outstanding Hydroelectric Project Number One Revenue Bonds, 2010 Refunding Series A with an average interest rate of 4.9003%. The net proceeds were used to purchase US government securities. Those securities were deposited in an irrevocable trust with an escrow agent to provide for all future debt service payments on the old bonds. As a result, the old bonds are considered defeased.

AMP’s participation in procurement of natural gas for fuel for existing and new combustion turbine units was approved in 1993. Although there is currently no additional debt financ ing, AMP and NCPA have committed to long-term payments for gas transmission pipeline capacity, and entered a purchase contract for natural gas. AMP is obligated to pay 19 percent.

NCPA’s notes from direct placement contain provisions that in an event of default, outstanding amounts become immediately due if (1) NCPA is unable to pay the principal or inte rest when due, (2) files bankruptcy or becomes insolvent, or (3) S&P issues a downgrade below “BBB‐“.

NCPA outstanding revenue bonds contai n provisions that in the event of a participant default, the project entitlement percentage of each non‐defaulting project participant will incr ease on a prorated basis up to a maximum of 25% for Hydroelectric, Geothermal and Capital Faciliti es projects and 35% for the Lodi Energy Center project. AMP does not participate in the Lodi Energy Center project but would be obligated under the other projects.

106
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 12 – Alameda Municipal Power Joint Ventures (Continued) As of June 30, 2021, AMP’s share of long-term de bt for the Geothermal, Hydroelectric and Capital Facilities Projects are set forth below:

Total AMP
Final Balance Balance Current AMP's Obligation
Maturity June 30, 2020 Retirements June 30, 2021 Portion % $ Geothermal Project
2012A 7/1/2022 3,570,000$ 1,405,000$ 2,165,000$ 1,440,000$ 16.8825% 365,506$ 2016A 7/1/2024 16,530,000 3,190,000 13,340,000 3,250,000 16.8825% 2,252,126 Total Geothermal Project 20,100,000 4,595,000 15,505,000 4,690,000 2,617,632 Hydroelectric Project
2008A 7/1/2032 83,640,000 2,165,000 81,475,000 2,255,000 10.0000% 8,147,500 2012A&B 7/1/2032 83,785,000 83,785,000 10.0000% 8,378,500 2018A&B (a) 7/1/2025 59,990,000 10,730,000 49,260,000 11,310,000 11.5821% 5,705,342 2019A 7/1/2023 38,310,000 7,830,000 30,480,000 8,185,000 10.0000% 3,048,000 Unamortized premium 13,713,456 2,890,843 10,822,613 10.0000% Total Hydroelectric Project 279,438,456 23,615,843 255,822,613 21,750,000 25,279,342 Capital Facilities (STIG)
2019A 7/1/2025 20,450,000 2,575,000 17,875,000 4,080,000 19.0000% 3,396,250 Unamortized premium 2,007,231 566,570 1,440,661 19.0000% Total Capital Facilities 22,457,231 3,141,570 19,315,661 4,080,000 3,396,250 Total Long-Term Debt 321,995,687$ 31,352,413$ 290,643,274$ 30,520,000$ $ 31,293,224 (a) AMP's share is 10%, the above reflects the other member opt out allocation %.

NCPA Capital Facilities bonds pay principal August 1.

NCPA Geothermal (2009A & 2016A) and Hydroelectric bonds pay principal July 1. Geothermal 2012A bonds pay principal both January 1 and July 1.

Defeased Debt - Various bond refundings were undertaken to defease debt an d realize future debt service savings. Debt was defeased by using the proceeds of th e refunding issues and other available monies to irrevocably place in trust cash and US Gov’t securities, which together with interest earned thereon, will be sufficient to pay both the interest and the appropriate maturity or redemption value of the refunded bonds as required.

Graeagle Hydroelectric Project - AMP’s participation in this small hydroelectric project was approved in 1993. Although this project does not involve any financing, it do es involve a long-term contractual commitment to purchase the power produced by the project. AMP receives 100 percent of the power output from this small 440 kilowatt hydroelectric project.

Western Area Power Administration - AMP has an allocation of power from the Federal Central Valley Project generating resources contract ed through the U.S. Department of Energy’s Western Area Power Administration. This allocation has been temporarily assigned to NCPA for scheduling and delivery to AMP. AMP pays 1.08075 percent of the base resource co sts and receives that same amount of the base resource, power generated in one federal fiscal year.
107
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 12 – Alameda Municipal Power Joint Ventures (Continued)

Other Power Purchase Agreements - AMP has also entered into a number of other power purchase agreements which are scheduled by or through NCPA.

Highwinds Project Power Purchase
In December 2004, AMP entered into a long-term power purch ase agreement with PPM Energy, Inc. for power supplied by the Highwinds Project in Solano County, California. In 2008, Iberdrola Renewables succeeded PPM Energy as the seller c ounterparty for this powe r purchase agreement.

AMP receives 6.17 percent of the output of th e 162 megawatt project (nameplate rating) – 10 megawatts – as delivered through June 30, 2028.

Landfill Gas Projects Power Purchase
Since 2004, AMP has entered into four long-ter m power purchase agreem ents for power supplied by multiple generating facilities. These facilitie s utilize combustible gaseous emissions from landfills, located in or near the San Francisco Bay area to create power. AMP began receiving nearly

3.45 megawatts of base-load power from each of the first two facilities in 2004 and early 2006. An additional 5.2 megawatts of base-load output was added to AMP’s portfolio in April 2009 when the Ox Mountain facility commenced operation. An additional 1.9 megawatts of power was added to AMP’s portfolio as the Keller Canyon facility commenced base-load operation in August 2009. The final landfill facility, Butte, commenced operation at the end of 2012.

Silicon Valley Power Renewable Power Purchase - Since 2018, AMP has entered into a long‐term power purchase agreement with Silicon Valley Power for winter only, renewable pow er. Silicon Valley Power supplies AMP with 10MW of baseload renewable energy production from various renewable energy generators for the months of October through February.

California Electric Industry Restructuring - In September 1996, the Califor nia State legislature signed into law Assembly Bill 1890 (AB 1890) deregulating the electric power supply market and restructuring the electric power industry in California. While the ma jority of the legislation was directed at investor- owned utilities (IOUs), AMP and other California pub licly owned utilities were greatly affected by the restructuring of markets and the ensu ing wild fluctuations in prices th at resulted from a deficiency in generating capacity and an immature and flawed mark et structure. Because AMP has its own generating resources and is not heavily dependent on the wholesale market to purchase power, it was not significantly impacted by these price swings.

In April 2008, the California Inde pendent System Operator (CAISO) launched a new wholesale market structure in the state which is referred to as the Market Redesign and Technology Upgrade (MRTU). While MRTU features a day-ahead energy ma rket with a nodal locational marginal price calculation, both load and resources are currently priced as aggregated pr icing. The MRTU initiative has introduced new risks and uncertainties for AMP because the Federal En ergy Regulatory Commissi on (FERC) continues requiring CAISO to implement a disaggregated market that will negatively affect AMP because it is in a transmission constrained location. To establish the extent of the risk and identify its impact to rates, AMP continues to monitor changes that CAISO makes to its market structure and operations.

108
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 12 – Alameda Municipal Power Joint Ventures (Continued) NCPA plays an active role in protecting members’ contr
actual rights in Federal Energy Regulatory
Commission (FERC), California Public Utilities Commission (CPUC), a nd other legislative/regulatory proceedings. Priorities related to industry restructur ing include the preservation of local control authority for publicly owned utilities, assuring open and fair access to wholesale markets and the transmission grid, and maintaining members’ preference access to power from the Central Valley Project and Western Area Power Administration.

NCPA Financial Information - NCPA’s financial statements can be obtained from NCPA, 651 Commerce Drive, Roseville, California 95678.

Transmission Agency of Northern California (TANC)
AMP is a member of a joint powers agreement with fi fteen other entities in TANC. TANC’s purpose is to provide electrical transmission or other facilities for the use of its members. While governed by its members, none of TANC’s obligations are those of its members unless expressly assumed by them. The California- Oregon Transmission Project (COTP) is one of thre e high voltage transmission lines connecting Oregon

and California. The 500 kV line is able to transm it 1,600 MW’s of electricity. The COTP participants include the Transmission Agency of Northern Califor nia, Western, PG&E, City of Redding, Carmichael Water District, and the San Juan Water District. Cu rrently, the COTP provides a transmission path for resources that is outside of the CAISO balancing authority. According to the 1985 Project Agreement with TANC for the development of the COTP and subsequent related project agreements, AMP is obligated to pay its share of the project’s costs, including debt service and is entitled to the use of a percentage of the project’s transmission or transfer capacity.

AMP’s entitlement share on COTP is 1.2274 percent and AMP is obligated to pay 1.33 percent of the project’s operating costs.

AMP is obligated to pay 1.33 pe rcent of TANC’s debt-service related to the California - Oregon Transmission Project (COTP). AMP’s share on the 20 09 Series A bonds is 1.449 6 percent. AMP is not obligated for any portion of the 2009 Series B bonds.

These obligations provide AMP with a COTP transfer capability of 17.05 MW. AMP is also obligated to pay for a portion of the debt associated with the S outh of Tesla transmission which is provided under an agreement between TANC and Pacific Gas & Electric Company.

In May 2009, TANC issued $67.0 million of tax-exempt 2009 Series A bonds and $61.8 million of taxable 2009 Series B bonds. The proceeds of the Series A bonds were used to retire a bank loan that refinanced $30.3 million of TANC’s tax-exempt commercial paper and also to refund $34.7 million of TANC’s 2003 Series C Auction Rate Securities. Th e proceeds of the Series B bonds were used to retire a bank loan that refinanced $56.3 million of TANC’s taxable commercial paper. The 2009 refunding increased future aggregate debt service payments by $19.3 million, but resulted in a total economic gain of $6.5 million, the difference between present value of the old and new debt service payments. TANC has issued Revenue Bonds for $435,790,000 and eliminated its obligations for the Tax Exempt Commercial Paper notes. As of June 30, 2021 and 2020, AMP’s share of this debt is $0 and $0, respectively. 109
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021

Note 12 – Alameda Municipal Power Joint Ventures (Continued)

As of July 1, 2014, AMP and other NCPA member s executed a multiparty Long-Term Layoff Agreement (the Agreement) that laid off their participating percentage share of the COTP to other TANC participants namely the Sacramento Municipal Utility District, th e Turlock Irrigation District, and Modesto Irrigation District, for twenty-five (25) years with the option to extend for an additional five years upon all parties approval. During the layoff period AMP and other NCPA members will not pay any debt service or operating costs. During the term of the Agreement, AM P would relinquish its voting rights on all short- term decisions and actions at TANC related to the COTP.

In 2016, TANC issued $173.9 milli on of tax-exempt 2016 Series A Revenue Refunding Bonds. The proceeds of the bonds were used to refund the cer tain outstanding bonds issued by TANC to finance or refinance a portion of the costs of the California – Oregon Transmission Project, fund the costs of terminating in full certain interest rate swap agreements relating to the variable rate Refunded Bonds, and fund a debt service reserve account for the 2016A bonds, and pay costs of the issuance of the 2016A Bonds.

The 2016 Series A “small member” debt portion is $2 ,517,565. AMP is obligated to pay $52,970, or

2.104% of that debt.

TANC Financial Information - TANC’s financial statements ca n be obtained from TANC, P.O. Box 15129, Sacramento, California 95851 or from their website at http://www.tanc.us/financials.html.

Note 13 – Commitments and Contingencies

A. City of Alameda

The City participates in several Fe deral and State grant programs. The se programs have been audited by the City’s independent accountants in accordance with the provisions of the Federal Single Audit Act amendments of 1996 and applicable State requirements. No cost disal lowances were proposed as a result of these audits. However, these programs are still subject to further examinatio n by the grantors and the amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time. The City expects such amounts, if any, to be immaterial.

The City is subject to litigation arising in the normal course of business. In the opinion of the City Attorney there is no pending litigation which is likely to have a material adverse effect on the financial position of the City.

110
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 13 – Commitments and Contingencies (Continued)
Encumbrances
Encumbrances outstanding as of June 30, 2021 are listed below:

Amount
Major Governmental Funds:

General Fund 660,713 $
Base Reuse Special Revenue Fund 681,396
Capital Improvement Projects Fund 2,110,845
Alameda Point Capital Projects Fund 644,361
Total Major Governmental Funds 4,097,315
Non-Major Governmental Funds:

Special Revenue Funds
Parking Meters 255,821
Commercial Revitalization 51,251
FISC Lease Revenue 32,559
Tidelands 104,221
Community Development Block Grants 91,709
Gas Tax 43,641
Housing 53,237
Maintenance Assessment District 206,996
Waste Reduction Surcharge 7,076
Capital Projects Funds:

Construction Impact Fee 117,625
Urban Runoff Storm Drain Fee 27,296
Total Non-Major Governmental Funds 991,432
Total Governmental Fund Encumbrances 5,088,747$
B. Alameda Municipal Power Fund
i) Take or Pay Agreements
Under the term
s of its NCPA and TANC joint venture agreements, AMP is liable for a portion of the bonded indebtedness issued by these agenci es under take-or-pay or similar agre ements, as discussed in Note 12.

AMP’s estimated share of such debt outstanding at June 30, 2021 was $38,164,221. Under certain circumstances, AMP may also be responsible for a po rtion of the costs of operating these entities. Under certain circumstances, such as default or bankruptcy of other participants, AMP may also be liable to pay a portion of the debt of these joint ventures on behalf of the other participants. These “step up” provisions are generally capped at a 25 percent increase.
111
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 13 – Commitments and Contingencies (Continued)
Take-or-Pay commitments expire upon final maturity of outstanding debt for each project. Final fiscal year debt expirations ar
e as follows:

Entitlement
Project Debt Expiration Share % Debt service %
NCPA - Geothermal Project (NGP) July-2024 16.88250% 18.35725% NCPA - Calaveras Hydroelectric Project (NCHP) July-2032 10.00000% 12.30755% NCPA - Capital Facilities Project (NCFP) July-2026 19.00000% 19.84112% As discussed in Note 12, as of July 1, 2014, AMP and other NCPA members executed a multiparty Long- Term Layoff Agreement that laid of f their participating percentage sh are of the COTP to other TANC participants.

A summary of AMP’s “Take or Pay” contracts and related projects and its contingent liability for the debt service including principal and interest payments at June 30, 2021 is as follows:
ii) Lease Agreement with 1835 Alameda Property, LLC
In March 2016, AMP entered into a property lease agreement with the 1835 Alameda Property, LLC for warehousing/distributing space. The lease terms for the agreement started on May 1, 2016 and will expire on April 30, 2031. The base rent is $24,700 per month.

Fiscal Y ear
2022 325,504$
2023 335,269
2024 345,327
2025 355,687
2026 366,357
2027-2031 1,930,846
Total 3,658,990$
Fiscal Y ear NG P NCHP NCFP Total
2022 835,761$ 3,203,071$ 945,013$ 4,983,845$ 2023 836,267 3,268,236 960,403 5,064,906
2024 586,381 3,739,922 966,435 5,292,738
2025 587,882 3,811,363 960,593 5,359,838
2026-2030 10,678,515 10,678,515
2031-2033 6,784,379 6,784,379
Total 2,846,291$ 31,485,486$ 3,832,444$ 38,164,221$ 112
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 13 – Commitments and Contingencies (Continued)
C. COVID-19 Global Pandemic
On March 11, 2020, the World Health Organization declared the novel strain of coronavirus (SARS-COV- 2) a global pandemic and recommended containment and mitigation measures worldwide. The COVID-19 outbreak in the United States has caused business disr uption through mandated and voluntary closings of businesses and shelter in place orders for all but tho se deemed essential services. While the business disruption was expected to be temporary, there is considerable uncertainty around the duration of the closings and shelter in place orders. Although many of the City’s services are considered essential, City Hall was closed to the public, certain other services transitioned to online-only and because the City’s major revenue sources, including businesses that collect sales taxes and transi ent occupancy taxes, are directly impacted by these events, it is probable that this ma tter will negatively impact the City. However, the ultimate financial impact and duration cannot be reasonably estimated at this time.

Note 14 – Redevelopment Agency Dissolution and Successor Agency Activities A. Redevelopment Dissolution
In an effort to balance its budget, the State of California adopted ABx1 26 on June 28, 2011, amended by AB1484 on June 27, 2012, which suspended all new re development activities except for limited specified activities as of that date and dissolved redevelopment agencies on January 31, 2012.

The suspension provisions prohibited all redevelopment agencies from a wide range of activities, including incurring new indebtedness or obligati ons, entering into or modifying agreements or contracts, acquiring or disposing of re
al property, taking actions to adopt or amend redevelopment plans and other similar actions, except action required by law or to carry out existing enforceable obligations, as defined in ABx1

26. In addition, ABx1 26 and AB1484 direct the State Cont roller to review the activities of all redevelopment agencies and successor agencies to determine whether an asset transfer between the agency and any public agency occurred on or after Januar y 1, 2011. If an asset transfer did occur and the public agency that received the asset is not contractually committed to a third party for the expenditure or encumbrance of the asset, the legislation purports to require the State Controller to order the asset returned to the redevelopment agency.

Effective January 31, 2012 the Community Improvement Commission (CIC) was dissolved. Certain assets of the CIC Low and Moderate Income Housing Fund were distributed to a Housing Successor; and all remaining CIC assets and liabilities were distributed to a Successor Agency.

The City elected to become the Successor Agency an d on February 1, 2012 the CIC’s remaining assets were distributed to and liabilities were assumed by the Successor Agency. ABx1 26 requires the establishment of an Oversight Board to oversee th e activities of the Success or Agency and one was established. The activities of the Successor Agency were subject to revi ew and approval of the Oversight Board, which was comprised of seven members, including the City Manager and one former CIC employee appointed by the Mayor. On July 1, 2018, the duties of the Alameda Oversight Board transferred to a new Alameda County-wide Consolidated Oversight Board, which will now be responsible for overseeing the wind down of affairs of all Successor Agencies in Alameda County, including the Successor Agency to the CIC.
113
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 14 – Redevelopment Agency Dissolution and Successor Agency Activities (Continued) The activities of the Successor Agen cy are reported in the Successor Agency Private-Purpose Trust Fund as the activities are under control of the Oversight Board. The City provides administrative services to the Successor Agency to wind down the affairs of the former CIC.

Cash and investments of the Successor Agency as of June 30, 2021 are discussed in Note 2. Information presented in the following footnotes represents othe r assets and liabilities of th e Successor Agency as of
June 30, 2021.

B. Long-Term Debt
The Successor Agency assumed long-term debt from the Redevelopment Agency consisted of the following:

Current Year Transaction and Balances
Balance Balance Due within
June 30, 2020 Retirements June 30, 2021 one year
2014 A SA CIC Tax Exempt Bonds 23,495,000$ - $ 23,495,000$ -$ Plus: Unamortized bond premium 2,508,386 (190,227) 2,318,159 2014 B SA CIC Taxable Bonds 14,810,000 (2,090,000) 12,720,000 2,145,000 2017 SA CIC Taxable Bonds 12,605,000 (225,000) 12,380,000 260,000 Less: Unamortized bond discount (157,881) 7,451 (150,430) Total Bonds 53,260,505$ (2,497,776)$ 50,762,729$ 2,405,000$ 2014 Community Improvement Commission Tax Allocation Bonds On December 23, 2014, the Successor Agency is sued Series 2014 A Subo rdinated Tax Allocation Refunding Bonds in the principal amount of $2 3,495,000 and Series 2014 B Subordinated Taxable Allocation Refunding Bonds in the principal amount of $25,080,000, for a total original principal amount of $48,575,000, for the former ag ency’s merged improvement areas. Proceeds from the sale of the Bonds were used to (a) refund certain outstanding bonds issued by th e former Community I mprovement
Commission of the City of Alameda (Former Agency), the proceeds of which were used to finance redevelopment and low and moderate income hous ing activities within and for the benefit of the redevelopment project areas of the Former Agency, (b) purchase a municipal bond insurance policy in lieu of finding a debt service reserve acc ount for the Bonds, and (c) provide fo r the costs of issuing the bonds.

The Series 2014 A and B Bonds are secured by a first lien on tax revenues. Principal and interest are payable annually on September 1 through 2034. The interest rates on the bonds vary from 0.553% to 5.0% The bonds were issued at a $3,565,319 premium. The outstanding balance as of June 30, 2021 was $38,533,159, including the premium.
114
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 14 – Redevelopment Agency Dissolution and Successor Agency Activities (Continued) 2017 Community Improvement Commission Tax Allocation Refunding Bonds On May 11, 2017, the Successor Agency issued Seri es 2017 Taxable Allocation Refunding Bonds in the principal amount of $12,850,000 fo r the former agency’s merged improvement areas. Proceeds from the sale of the Bonds will be used to (a) refund and de fease certain outstanding bonds issued by the former Community Improvement Commission of the City of Alameda (Former Agency), the proceeds of which were used to finance redevelopment and low and mo derate income housing activities within and for the benefit of the redevelopment project areas of the Fo rmer Agency, (b) purchase a debt service reserve insurance policy in lieu of funding a debt service reserve fund for the Bonds, and (c) pay the costs of issuing the Bonds. The Series 2017 Bonds are secured by a lien on tax revenues. Principal and interest are payable semiannually on March 1 and September 1 through 2042 . The interest rates on the bonds vary from 1.5% to 4.2%. The bonds were issued at a $180,706 discou nt. The outstanding balance as of June 30, 2021 was $12,229,570, net of the discount.

With the dissolution of the CIC disc ussed above, tax increment is no lo nger distributed, and instead the Successor Agency receives payments from the County’s Redevelopment Property Tax Trust Fund (RPTTF) that are to be used to fund debt service on the Bonds, with no distinction between housing and non-housing revenues. In addition, under the provisions of th e laws dissolving the CIC, the Successor Agency only receives the funds necessary to fulfill its approved ob ligations. Total property taxes received by the Successor Agency in the current fiscal year were $12,438,992 which re presented coverage of 2.78 times the $4,466,516 of debt service.

The outstanding balance of the defeased debt as of June 30, 2021 was $10,700,000.

Debt Service Requirements
Annual debt service requirements are shown below:

For the Y ear Ending
June 30, Principal Interest
2022 2,405,000 $ 2,082,211 $
2023 2,515,000 2,003,025
2024 2,630,000 1,915,187
2025 2,760,000 1,817,802
2026 2,910,000 1,710,444
2027-2031 17,165,000 6,373,359
2032-2036 15,115,000 1,995,963
2037-2041 2,660,000 301,538
2042 435,000 9,244
Subtotal 48,595,000 18,208,773 $
Plus unam ortized bond prem ium 2,318,159
Less unam ortized bond discount (150,430)
Total 50,762,729 $
115
City of Alameda
Notes to Basic Financial Statements
For the Year Ended June 30, 2021
Note 14 – Redevelopment Agency Dissolution and Successor Agency Activities (Continued) C. State Approval of Enforceable Obligations
The Successor Agency prepares a Recognized Obliga tion Payment Schedule (ROPS) semi-annually that contains all proposed expenditures for the subsequent six- month period. The ROPS is subject to the review
and approval of the Oversight Board as well as the State Department of Finance. Although the State Department of Finance may not question items included on the ROPS in one period, they may question the same items in a future period and disallow associated activities. The amount, if any, of current obligations that may be denied by the State Department of Finance cannot be determined at this time. 116
City of Alameda, California
People and Places in the City

City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021

CALPERS AGENT-MULTIPLE EMPLOYER MISCELLANEOUS PLAN
Schedule of Changes in Net Pension Liability and Related Ratios Last Ten Years*
Fiscal Year Ended June 30, 2021 2020 2019 2018 2017 2016 2015 Measurement Period 2019-20 2018-19 2017-18 2016-17 2015-16 2014-15 2013-14 Total Pension Liability
Service Cost 5,012,281$ 4,969,281$ 4,744,578$ 4,641,162$ 3,760,714$ 3,766,998$ 3,808,115$ Interest on the total pension liability 21,185,528 20,619,356 19,883,808 19,356,195 18,828,640 18,158,298 17,592,705 Changes of assumptions (1,729,391) 15,192,135 (4,194,628) Difference between expected and actual experience (1,654,709) 895,766 (334,914) 271,870 163,395 (1,883,727) Benefit payments, including refunds of employee contributions (16,491,161) (15,582,694) (15,115,521) (14,095,607) (13,711,596) (12,934,211) (12,081,658) Net change in total pension liability 8,051,939 10,901,709 7,448,560 25,365,755 9,041,153 2,912,730 9,319,162 Total pension liability - beginning 303,695,243 292,793,534 285,344,974 259,979,219 250,938,066 248,025,336 238,706,174 Total pension liability - ending (a) 311,747,182 303,695,243 292,793,534 285,344,974 259,979,219 250,938,066 248,025,336 Plan fiduciary net position
Contributions - employer 8,386,195 6,979,527 5,710,346 5,273,062 4,525,123 3,713,053 3,088,658 Contributions - employees 2,721,137 2,289,733 2,435,141 2,306,147 2,159,065 2,094,771 2,206,769 Net investment income 11,067,395 14,100,692 17,324,360 21,234,381 1,095,194 4,478,705 30,399,751 Benefit payments, including refunds of employee contributions (16,491,161) (15,582,694) (15,115,521) (14,095,607) (13,711,596) (12,934,211) (12,081,658) Plan to Plan Resource Movement (497) (2,433,966)
Administrative expense (311,667) (152,318) (317,906) (279,892) (119,223) (222,927) Other Miscellaneous Income/(Expense) 497 (603,709)
Net change in fiduciary net position 5,371,899 7,635,437 9,432,214 14,438, 091 (6,051,437) (5,304,575) 23,613,520 Plan fiduciary net position - beginning 221,079,220 213,443,783 204,011,569 189,573,478 195,624,915 200,929,490 177,315,970 Plan fiduciary net position - ending (b) 226,451,119 221,079,220 213,443,783 204,011,569 189,573,478 195,624,915 200,929,490 Net pension liability - ending (a)-(b) 85,296,063$ 82,616,023 $ 79,349,751$ 81,333,405$ 70,405,741$ 55,313,151$ 47,095,846$ Plan fiduciary net position as a percentage of the total pension liability 72.64% 72.80% 72.90% 71.50% 72.92% 77.96% 81.01% Covered payroll 32,362,652$ 29,336,402 $ 28,387,102$ 27,176,983$ 26,437,131$ 25,612,255$ 24,479,720$ Net pension liability as percentage of covered payroll 263.56% 281.62% 279.53% 299.27% 266.31% 215.96% 192.39% Measurement date June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 *Fiscal Year 2015 was the first year of implementation
118
City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021

CALPERS AGENT-MULTIPLE EMPLOYER SAFETY PLAN
Schedule of Changes in Net P ension Liability and Related Ratios Last Ten Years*
Fiscal Year Ended June 30, 2021 2020 2019 2018 2017 2016 2015 Measurement Period 2019-20 2018-19 2017-18 2016-17 2015-16 2014-15 2013-14 Total Pension Liability
Service Cost 7,366,903 $ 7,580,036 $ 7,333,306$ 7,034,547$ 6,047,019$ 6,121,040$ 6,141,031$ Interest on the total pension liability 33,476,100 32,199,260 30,481,692 29,313,329 28,386,449 27,178,001 25,739,517 Changes of assumptions - (1,858,258) 24,387,287 (6,618,407) Difference between expected and actual experience 3,083,875 9,115,231 3,224,389 248,108 2,256,432 5,283,538 Benefit payments, including refunds of employee contributions (25,813,263) (23,984,124) (22,079,185) (20,966,135) (20,335,284) (19,108,175) (17,814,345) Net change in total pension liabilit y 18,113,615 24,910,403 17,101,944 40,017,136 16,354,616 12,855,997 14,066,203 Total pension liability - beginning 474,336,508 449,426,105 432,324,161 392,307,025 375,952,409 363,096,412 349,030,209 Total pension liability - ending (a) 492,450,123 474,336,508 449,426,105 432,324,161 392,307,025 375,952,409 363,096,412 Plan fiduciary net position
Contributions - employer 13,496,482 18,190,209 22,171,954 10,537,863 9,569,765 9,071,332 8,190,138 Contributions - employees 3,589,299 3,762,229 3,780,834 3,678,165 3,329,883 2,920,035 3,115,074 Net investment income 14,693,325 18,360,463 21,815,840 25,858,078 1,191,816 5,399,063 36,726,928 Benefit payments, including refunds of employee contributions (25,813,263) (23,984,124) (22,079,185) (20,966,135) (20,335,284) (19,108,175) (17,814,345) Plan to Plan Resource Movement - (651)
Administrative expense (415,623) (198,878) (396,033) (347,534) (147,352) (272,101) Other Miscellaneous Income /(Expense) 651 (752,074)
Net change in plan fiduciary net position 5,550,220 16,130,550 24,540,685 18,760,437 (6,391,172) (1,989,846) 30,217,795 Plan fiduciary net position - beginning 294,819,559 278,689,009 254,148,324 235,387,887 241,779,059 243,768,905 213,551,110 Plan fiduciary net position - ending (b) 300,369,779 294,819,559 278,689,009 254,148,324 235,387,887 241,779,059 243,768,905 Net pension liability - ending (a)-(b) 192,080,344$ 179,516,949$ 170,737, 096$ 178,175,837$ 156,919,138$ 134,173,350$ 119,327,507$ Plan fiduciary net position as a percentage of the total pension liability 60.99% 62.15% 62.01% 58.79% 60.00% 64.31% 67.14% Covered payroll 24,808,549$ 25,333,206$ 25,275,362$ 24,303,190$ 25,965,660$ 25,200,216$ 23,779,986$ Net pension liability as percentage of covered payroll 774.25% 708.62% 675.51% 733.14% 604.33% 532.43% 501.80% Measurement date June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 *Fiscal Year 2015 was the first year of implementation
119
City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021

CALPERS AGENT MULTIPLE EMPLOYER PLAN - MISCELLANEOUS

SCHEDULE OF CONTRIBUTIONS
Last 10 Years*
Fiscal Year Ended June 30, 2021 2020 2019
Actuarially determined contribution 9,318,477$ 8,387,122$ 6,968,668$ Contributions in relation to the actuarially
determined contributions 9,318,477 8,387,122 6,968,668
Contribution deficiency (excess) -$ -$ -$
Covered payroll 33,404,342$ 32,362,652$ 29,336,402$ Contributions as a percentage of
covered payroll 27.90% 25.92% 23.75%
Notes to Schedule
Valuation date: 6/30/2018 6/30/2017 6/30/2016
Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry Age Entry Age Entry Age Normal Cost Method Amortization method Level percent of payroll Level percent of payroll Level percent of payroll Asset valuation method Market Value of Assets Market Value of Assets Market value Inflation 2.50% 2.625% 2.75%
Varies by Entry Age and Service Varies by Entry Age and Service 3.3% to 14.2% depending on Age, Service, and type of employment
Investment rate of return

7.00% net of pension plan 7.25% net of pension plan 7.375% net of administrative investment expense, including investment expense, including expenses, includes inflation inflation. inflation.

Retirement age 50-67 years 50-67 years 50-67 years
Mortality The probabilities of mortality are Retirement and post-retirement The probabilities of retirement and based on 2017 CalPERS mortality rates include 15 years mortality are based on 2014 experience study for the period of projected mortality CalPERS experience study for the from 1997 to 2015. Pre-retirement improvement us ing 90% of Scale period from 1997 to 2011. Pre- and Post-retirement mortality MP-2016 published by retirement mortality rates include 20 rates include 15 years of projected the Societ y of Actuaries. years of projected mortality mortality improvement using 90% improvement using Scale BB of Scale MP-2016 published by published by the Society of the Society of Actuaries. Actuaries
*Fiscal Year 2015 was the first year of implementation
Salary increase
120
City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021
2018 2017 2016 2015
5,710,194$ 5,265,991$ 4,527,506$ 3,713,053$ 5,710,194 5,265,991 4,527,506 3,713,053 -$ -$ -$ -$
28,387,102$ 27,176,983$ 26,437,131$ 25,612,255$

20.12% 19.38% 17.13% 14.50%
6/30/2015 6/30/2014 6/30/2013 6/30/2012
Entry Age Norm al Cost Method Entry Age Norm al Cost Method Entry Age Norm al Cost Method Entry Age Norm al Cost Method Level percent of payroll Level percent of payroll Level percent of payroll Level percent of payroll Market value Market value Actuarial value of assets Actuarial value of assets

2.75% 2.75% 2.75% 2.75%

3.3% to 14.2% depending on Age, 3.3% to 14.2% depending on Age, 3.3% to 14.2% depending on Age, 3.3% to 14.2% depending on Age, Service, and type of em ploym ent Service, and type of em ploym ent Service, and type of em ploym ent Service, and type of em ploym ent

7.375% net of administrative 7.5% net of administrative 7.5% net of administrative 7.5% net of administrative ex penses, includes inflation ex penses, includes inflation ex penses, includes inflation ex penses, includes inflation 50-67 years 50-67 years 50-67 years 50-67 years
The probabilities of retirement and The probabilities of retirement and The probabilities of retirement and The probabilities of r etirement and mortality are based on 2010 mortality are based on 2010 mortality are based on 2010 mortality are based on 2010 CalPERS ex perience study for the CalPERS ex perience study for the CalPERS ex perience study for the CalPERS ex perience study for th e period from 1997 to 2007. Pre- period from 1997 to 2007. Pre- period from 1997 to 2007. Pre- period from 1997 to 2007. Pre- retirement mortality rates include 5 retirement mortality rates include 5 retirement mortality rates include 5 retirement mortality rates include 5 years of projected mortality years of projected mortality years of projected mortality years of projected mortality improvement using Scale AA improvement using Scale AA improvement using Scale AA improvement using Scale AA published by the Society of published by the Society of published by the Society of published by the Society of Actuaries Actuaries Actuaries Actuaries
121
City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021

CALPERS AGENT MULTIPLE EMPLOYER PLAN - SAFETY

SCHEDULE OF CONTRIBUTIONS
Last 10 Years*
Fiscal Year Ended June 30, 2021 2020 2019
Actuarially determined contribution 15,122,079$ 13,622,920$ 18,185,938$ Contributions in relation to the actuarially
determined contributions 15,122,079 13,622,920 18,185,938 Contribution deficiency (excess) -$ -$ -$
Covered payroll 25,441,316$ 24,808,549$ 25,333,206$
Contributions as a percentage of covered payroll 59.44% 54.91% 71.79% Notes to Schedule
Valuation date: 6/30/2018 6/30/2017 6/30/2016
Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry Age Entry Age Entry Age Normal Cost Method Amortization method Level percent of payroll Level percent of payroll Level percent of payroll Asset valuation method Market value Market value Market value Inflation 2.500% 2.625% 2.75%
Varies by Entry Age and Service Varies by Entry Age and Service 3.3% to 14.2% depending on Age, Service, and type of employment
Investment rate of return

7.00% net of pension plan 7.25% net of pension plan 7.375% net of administrative investment expense, including investment expense, including expenses, includes inflation inflation inflation
Retirement age
The probabilities of Retirement are based
on the CalPERS Experience Study
The probabilities of Retirement are based
on the CalPERS Experience Study 50-57 years
Mortality The probabilities of mortality are Retirement and post-retirement The probabilities of retirement and based on 2017 CalPERS mortality rates in clude 15 years mortality are based on 2014 experience study for the period of projected mortality CalPERS experience study for the from 1997 to 2015. Pre-retirement improvement usi ng 90% of Scale period from 1997 to 2011. Pre- and Post-retirement mortality MP-2016 published by retirement mortality rates include 20 rates include 15 years of projected the Society of Actuaries years of projected mortality mortality improvement using 90% improvement using Scale BB of Scale MP-2016 published by published by the Society of the Society of Actuaries. Actuaries
*Fiscal Year 2015 was the first year of implementation
Salary increase
122
2018 2017 2016 2015
11,470,898$ 10,530,166$ 9,572,502$ 9,071,332$
11,470,898 10,530,166 9,572,502 9,071,332
-$ -$ -$ -$
25,275,362$ 24,303,190$ 25,965,660$ 25,200,216$

45.38% 43.33% 36.87% 36.00%
6/30/2015 6/30/2014 6/30/2013 6/30/2012
Entry Age Normal Cost Method Entry Age Normal Cost Method Entry Age Normal Cost Method Entry Age Normal Cost Method Level percent of payroll Level percent of payroll Level percent of payroll Level percent of payroll Market value Market value Actuarial value of assets Actuarial value of assets

2.75% 2.75% 2.75% 2.75%

3.3% to 14.2% depending on Age, 3.3% to 14.2% depending on Age, 3.3% to 14.2% depending on Age, 3.3% to 14.2% depending on Age, Service, and type of employment Service, and type of employment Service, and type of employment Service, and type of employment

7.5% net of administrative 7.5% net of administrative 7.5% net of administrative 7.5% net of administrative expenses, includes inflation expenses, includes inflation expenses, includes inflation expenses, includes inflation 50-57 years 50-57 years 50-57 years 50-57 years
The probabilities of retirement and The probabilities of retirement and The probabilities of retirement and The probabilities of retirement and mortality are based on 2010 mortality are based on 2010 mortality are based on 2010 mortality are based on 2010 CalPERS experience study for the CalPERS experience study for the CalPERS experience study for the CalPERS experience study for the period from 1997 to 2007. Pre- period from 1997 to 2007. Pre- period from 1997 to 2007. Pre- period from 1997 to 2007. Pre- retirement mortality rates include 5 retirement mortality rates include 5 retirement mortality rates include 5 retirement mortality rates include 5 years of projected mortality years of projected mortality years of projected mortality years of projected mortality improvement using Scale AA improvement using Scale AA improvement using Scale AA improvement using Scale AA published by the Society of published by the Society of published by the Society of published by the Society of Actuaries Actuaries Actuaries Actuaries
123
City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021

City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021
The 1079 & 1082 Pension Plans
Schedule of Changes in Total Pension Liability and Related Ratios Last Ten Years*
Fiscal Year Ended June 30, 2021 2020 2019 2018 2017
Total Pension Liability
Interest on the total pension liability 129,408 $ 180,745 $ 258,849 $ 288,416 $ 349,073 $ Difference between expected and actual experience 695,141 (983,223) (46,556) 39,819 Changes of assumptions 639,890 248,890 131,138 Benefit payments (851,675) (919,573) (1,209,440) (1,448,612) (1,448,612) Net change in total pension liabilit y 612,764 (489,938) (1,802,676) (1,206,752) (1,059,720) Total pension liability - beginning 5,707,771 6,197,709 8,000,385 9,207,137 10,266,857 Total pension liability - ending 6,320,535$ 5,707,771$ 6,197,709$ 8,000,385$ 9,207,137$ Measurement date June 30, 2021 June 30, 202 0 June 30, 2019 June 30, 2018 June 30, 2017 Note to Schedule:

No assets are accumulated in a trust that meets all of the following criteria of GASB Statement No. 73, paragraph 4:
• Contributions from the employer and any nonemployer contributing entities, and earnings thereon, must be irrevocable.
• Plan assets must be dedicated to providing pensions to Plan members in accordance with the benefit terms.
• Plan assets must be legally protected from the creditors of the employer, nonemployer contributing entities, the Plan administrator, and Plan members.

The plan is a closed plan and there are no active employees participating in the Plan. *Fiscal Year 2017 was the first year of implementation
124
City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021

SCHEDULE OF CHANGES IN THE NET OPEB LIABILITY AND RELATED RATIOS Agent Multiple-Employer Miscellaneous and Pre-1/1/2019 Safety Plan Defined Benefit OPEB Plans Last 10 fiscal years*
Measurement Date 6/30/21 6/30/20 6/30/19 6/30/18
Total OPEB Liability
Service Cost 644,219 $ 555,320 $ 4,213,531 $ 4,193,392 $ Interest 2,704,008 2,909,360 4,658,311 4,316,741
Differences between expected and actual experience 5,250,940 (353,154) (2,503,398) Changes of assumptions 4,046,759 4,987,068 (1,184,636) (6,336,836) Benefit payments (4,132,821) (3,917,329) (3,825,122) (3,715,083) Plan to Plan Transfer (1) (44,592,304)
Net change in total OPEB liability 8,513,105 4,181,265 (43,233,618) (1,541,786) Total OPEB liability - beginning 75,689,659 71,508,394 114,742,012 116,283,798 Total OPEB liability - ending (a) 84,202,764$ 75,689,659 $ 71,508,394 $ 114,742,012 $ Plan fiduciary net position
Contributions - employer 4,132,821 $ 3,917,329 $ 4,325,122 $ 7,546,879 $ Net investment income 872,495 178,799 268,507 598,104
Administrative expense (20,219) (18,852) (17,057) (33,220) Benefit payments (4,132,821) (3,917,329) (3,825,122) (3,715,083) Other 703
Plan to Plan Transfer (1) (8,314,828)
Net change in plan fiduciary net position 852,276 159,947 (7,563,378) 4,397,383 Plan fiduciary net position - beginning 4,381,974 4,222,027 11,785,405 7,388,022 Plan fiduciary net position - ending (b) 5,234,250$ 4,381,974 $ 4,222,027 $ 11,785,405 $ Net OPEB liability - ending (a)-(b) 78,968,514 $ 71,307,685 $ 67,286,367 $ 102,956,607 $ Plan fiduciary net position as a percentage of the total OPEB liability 6.22% 5.79% 5.90% 10.27% Covered-employee payroll 33,255,226 $ 36,886,764 $ 32,365,183 $ 61,252,086 $ Net OPEB liability as a percentage of covered-employee payroll 237.46% 193.32% 207.90% 168.09% * Fiscal Year 2018 was the first year of implementation. 125
City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021

SCHEDULE OF CONTRIBUTIONS
Miscellaneous and Pre-1/1/2019 Safety Plan
Agent Multiple-Employer Defined Benefit OPEB Plan
Last 10 fiscal years*
For the Year Ended June 30 2021 2020 2019 2018
Contractually required contributions 4,132,821 $ 3,917,329 $ 3,825,122 $ 3,715,083 $ Contributions in relation to the contractually
required contributions (4,132, 821) (3,917,329) (3,825,122) (3,715,083) Contribution deficiency (excess) - $ -$ -$ -$
Covered-employee payroll 33,255,226$ 36,886,764$ 32,365,183$ 61,252,086$ Contributions as a percentage of covered-employee payroll 12.43% 10.62% 11.82% 6.07% * Fiscal Year 2018 was the first year of implementation. 126
City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021

SCHEDULE OF CHANGES IN THE NET OPEB LIABILITY AND RELATED RATIOS Post-1/1/2019 Safety Plan
Agent Multiple-Employer Defined Benefit OPEB Plan
Last 10 fiscal years*
Measurement Date 6/30/21 6/30/20 6/30/19
Total OPEB Liability
Service Cost 3,959,737$ 3,090,491$ -$ Interest 2,089,924 2,027,284
Changes in benefit terms 143,210
Differences between expected and actual experience (9,353,708) (371,750) (1,796,845) Changes of assumptions (1,654,652) 7,779,856 1,413,660
Benefit payments (619,278) (231,604) (70,984)
Plan to Plan Transfer (1) 44,592,304
Net change in total OPEB liability (5,577,977) 12,294,277 44,281,345 Total OPEB liability - beginning 56,575,622 44,281,345
Total OPEB liability - ending (a) 50,997,645$ 56,575,622$ 44,281,345$ Plan fiduciary net position
Contributions - employer 2,470,986$ 1,109,102 $ 963,680 $ Net investment income 2,710,975 348,653 568,341
Administrative expense (52,928) (41,310) (19,988)
Benefit payments (619,278) (231,604) (70,984)
Plan to Plan Transfer (1) 8,314,828
Net change in plan fiduciary net position 4,509,755 1,184,841 9,755,877 Plan fiduciary net position - beginning 10,940,718 9,755,877 Plan fiduciary net position - ending (b) 15,450,473$ 10,940,718$ 9,755,877$ Net OPEB liability - ending (a)-(b) 35,547,172$ 45,634,904$ 34,525,468$ Plan fiduciary net position as a percentage of the total OPEB liability 30.30% 19.34% 22.03% Covered-employee payroll 30,769,664$ 30,782,274$ 29,946,145$ Net OPEB liability as a percentage of covered-employee payroll 115.53% 148.25% 115.29% * Plan was established in Fiscal Year 2019.

127
City of Alameda
Required Supplementary Information
For the Year Ended June 30, 2021

SCHEDULE OF CONTRIBUTIONS
Post-1/1/2019 Safety Plan
Last 10 fiscal years*
For the Year Ended June 30 2021 2020 2019
Contractually required contributions 2,470,986$ 1,109,102$ 952,694$ Contributions in relation to the contractually
required contributions (2,470,986) (1,109,102) (952,694) Contribution deficiency (excess) -$ -$ -$
Covered-employee payroll 30,769,664$ 30,782,274$ 29,946,145$ Contributions as a percentage of covered-employee payroll 8.03% 3.60% 3.18% * Plan was established in Fiscal Year 2019.

Agent Multiple-Employer Defined Benefit OPEB Plan
128
City of Alameda
Non-Major Governmental Funds
Special Revenue Funds:

Community Development
This fund accounts for the activities and services of the Planning, Building and Code Enforcement Divisions.

Revenues are derived from fees, licenses, and fines colle cted in conjunction with the planning, permitting and enforcement activities of the departme nt in accordance with state law, requiring fees not to exceed the cost of providing services. Expenditures are ma de in support of the administration of the divisions, the provision and enhancement of services, and the enforcement of municipal codes.

Library
This fund accounts for revenues received from a library tax, library grants and operating transfers from the General Fund for the operations of the City’s three libraries.

Gas Tax
This fund accounts for revenues and expenditures received from the State of California under Street and Highways Code Section 2105, 2106, 2107, 2107.5, 73 60 and 2103.1. The allocations must be expended for street related maintenance and construction and a limited amount for engineering.

Asset Seizure/Traffic Safety
This fund accounts for restricted Asset Seizure/Traffic Safety funds to be used for eligible Public Safety Programs.

County Measure B/BB
This fund accounts for the City’s share of the proceeds of a one-half cent sales tax increase approved by the voters in November 2000, which was renewed in November 2014. The program is administered by the Alameda County Transportation Commission. The tax pr ovides funds for the maintenance of lo cal streets, roads, bike paths and pedestrian walkways, and paratransit operations.

Tidelands
This fund accounts for revenues received from tidelands property leases. Le ases are for state tidelands properties delegated to local agencies for management and control.

Parking Meter
This fund accounts for revenues collect ed from parking meters and the expe nditure of these revenues for parking and transportation related projects.

Commercial Revitalization
This fund accounts for funds to be used for the City’s commercial revitalization programs.

Community Development Block Grant
This fund accounts for grant funds received under the Community Development Act of 1974 for activities approved and subject to federal regulations.

Housing
This fund accounts for funds received from developer impact fees to be used for the affordable housing programs in the City.
129
City of Alameda
Non-Major Governmental Funds
Garbage/Recycling Surcharge
This fund accounts for revenues and expenditures of the City’s waste management and recycling programs.

Athletic Recreation
This fund accounts for revenues and expenditures of the various City recreation fee-based programs.

Grants
This fund accounts for revenues received from Federal, State, County and private grants.

Waste Reduction Surcharge
This fund accounts for revenues and ex penditures related to the operation of the City’s waste management and recycling programs.

Maintenance Assessment Districts
This fund accounts for special assessments collected and expended for various landscaping and maintenance areas throughout the City.

Vehicle Registration Fee
This fund accounts for these fees collected by the County to be used to sustain the County’s transportation network and reduce traffic congestion.

Parking
This fund accounts for restricted revenues from the Civic Center garage and City parking lots. Expenditures support parking and transportation related projects.

FISC Lease Revenue
This fund accounts for revenues from the Fleet Indust rial Supply Center (FISC) lease and related capital improvement expenditures.

Debt Service Funds:

City Hall and Library Bonds
This fund accounts for the repaymen t of two bonds that were issued to fund various improvements and the construction of a new library.

Base Reuse
The 2003 Variable Rate Demand Revenue Bonds were issued in December 2003 by the Alameda Public Financing Authority to refund the 1999 Base Reus e Revenue Bonds and to finance profes sional land use planning and other activities required in the redevelopmen t process at Alameda Point. The de bt will be repaid solely from lease revenues related to base reuse.
130
City of Alameda
Non-Major Governmental Funds

Capital Projects Funds:

Construction Impact Fee
This fund accounts for revenues from development impact fees required from certain new developments. Funds are used to mitigate the impacts on public facilities and infrastructure caused by these developments.

Streets/Transportation
This fund accounts for expenditures for street and transportation projects.

Development Impact Fee
This fund accounts for revenues from development impact fees required from certain new developments. Funds are used to mitigate the impacts on availability and condition of public facilities caused by these developments.

Urban Runoff Storm Drain Fee
This fund accounts for revenues and expenditures associated with the City’s compliance under the Alameda County Urban Runoff Clean Water Program.

Maintenance Assessment Districts
This fund accounts for bond proceeds used to finance the construction and acq uisition of public improvements in the District.

131
City of Alameda
Non-Major Governmental Funds
Combining Balance Sheets
June 30, 2021
Community Asset Seizure/
Development Library Gas Tax Traffic Safety
Cash and investments 2,261,290$ 4,857,596$ 2,214,335$ 27,856$ Restricted cash and investments
Accounts receivable 21,014 167,136 146,942
Prepaids and deposits
Loans receivable
Total Assets 2,282,304$ 5,024,732$ 2,361,277$ 27,856$ Accounts payable 75,710$ 63,937$ 4,347$ -$ Accrued payroll 129,641 87,019 2,744
Accrued interest
Due to other a
gencies 12,068
Unearned revenue
Refundable de
posits 273,199
Advances from other funds
Total Liabilities 478,550 150,956 7,091 12,068
Unavailable revenue - accounts receivable
Unavailable revenue - revolvin
g loans receivable
Total Deferred Inflows of Resources

FUND EQUITY
Fund balances
Nonspendable
Restricted 2,354,186 15,788
Committed 1,803,754 4,873,776
Total Fund Balances 1,803,754 4,873,776 2,354,186 15,788 2,282,304$ 5,024,732 $ 2,361,277 $ 27,856 $

SPECIAL REVENUE FUNDS
ASSETS
Total Liabilities, Deferred Inflows
and Fund Balances

LIABILITIES

DEFERRED INFLOWS OF RESOURCES
132
Community
County Parking Commercial Development
Measure B/BB Tidelands Meter Revitalization
Block Grant Housing
6,838,358$ 2,298,893$ 2,358,699$ 883,948$ 363,716$ 3,842,841$ 1,111,308 7,816 270 204,452 106
2,259,158 1,534,377
7,949,666$ 2,298,893$ 2,366,515$ 884,218$ 2,827,326$ 5,377,324$ -$ 1,979$ 72,531$ 15,032$ 158,005$ 257,730$ 10,215 5,496 5,647 21,425
3,322
727,110
17,582
29,776 78,027 15,032 166,974 1,006,265
2,259,158 1,534,377
2,259,158 1,534,377
7,949,666 2,269,117 401,194 2,836,682
2,288,488 869,186
7,949,666 2,269,117 2,288,488 869,186 401,194 2,836,682 7,949,666$ 2,298,893$ 2,366,515$ 884,218$ 2,827,326$ 5,377,324$ (Continued)

SPECIAL REVENUE FUNDS
133
City of Alameda
Non-Major Governmental Funds
Combining Balance Sheets
June 30, 2021
Garbage/ Waste
Recycling Athletic Grants Reduction
Surcharge Recreation Fund Surcharge
ASSETS
Cash and investments 1,633,442 $ 2,109,313 $ 1,662,998$ 1,640,299$ Restricted cash and investments
Accounts receivable 18,641 86,818 914,268 78,433
Prepaids and deposits 1,724 600
Loans receivable
Total Assets 1,652,083$ 2,197,855$ 2,577,266$ 1,719,332$

LIABILITIES
Accounts payable 14,782$ 128,703$ 36,082$ 225,553$ Accrued payroll 3,253 151,219 52,670 10,788
Accrued interest
Due to other agencies 9,271
Unearned revenue 110,018
Refundable de
posits 106,535
Advances from other funds
Total Liabilities 18,035 496,475 88,752 245,612

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - accounts receivable 430,401
Unavailable revenue - revolving loans receivable
Total Deferred Inflows of Resources 430,401
Fund balances
Nonspendable 1,724 600
Restricted 1,634,048 2,058,113 1,473,120
Committed 1,699,656
Total Fund Balances 1,634,048 1,701,380 2,058,113 1,473,720 1,652,083$ 2,197,855$ 2,577,266$ 1,719,332$

FUND EQUITY

SPECIAL REVENUE FUNDS
Total Liabilities, Deferred Inflows
and Fund Balances
134

SPECIAL REVENUE FUNDS
Maintenance Vehicle City Hall
Assessment Registration FISC and Library
Districts Fee Parking Lease Revenue Bonds Base Reuse
9,572,412$ 94,309$ 610,282$ 2,317,270$ 411,536$ 266,782$ 380,129 1,037,714 20,194
90,708 55,554 307,752 33,773
6,210
10,043,249$ 149,863$ 610,282$ 2,631,232$ 1,483,023$ 286,976$ 358,336$ -$ -$ 41,890$ -$ -$
10,689 12,323
25,000
369,025 25,000 54,213
6,210
9,674,224 149,863 585,282 1,483,023 286,976
2,570,809
9,674,224 149,863 585,282 2,577,019 1,483,023 286,976
10,043,249$ 149,863$ 610,282$ 2,631,232$ 1,483,023$ 286,976$ (Continued)

DEBT SERVICE FUNDS
135
City of Alameda
Non-Major Governmental Funds
Combining Balance Sheets
June 30, 2021
Construction Development Urban Runoff
Impact Streets/ Impact Storm Drain
Fee Transportation Fee Fee
ASSETS
Cash and cash equivalents 5,516,347$ 2,124,893$ 9,954,509$ 2,690,822$ Restricted cash and investments 17,300
Accounts receivable 465 245,321 312,120
Prepaids and deposits
Loans receivable
Total Assets 5,516,812$ 2,370,214$ 9,954,509$ 3,020,242$ Accounts payable 2,600$ 22,745$ -$ 71,345 $ Accrued payroll 17,615 51,543
Accrued interest
Due to other agencies
Unearned revenue
Refundable de
posits 1,500 52,712
Advances from other funds 896,713
Total Liabilities 2,600 40,360 898,213 175,600
Unavailable revenue - accounts receivable
Unavailable revenue - revolvin
g loans receivable
Total Deferred Inflows of Resources

FUND EQUITY
Fund balances
Nonspendable
Restricted 5,514,212 2,329,854 9,056,296 2,844,642
Committed
Total Fund Balances 5,514,212 2,329,854 9,056,296 2,844,642 5,516,812$ 2,370,214 $ 9,954,509 $ 3,020,242 $ Total Liabilities, Deferred Inflows
and Fund Balances

CAPITAL PROJECTS FUNDS

LIABILITIES

DEFERRED INFLOWS OF RESOURCES
136

CAPITAL

PROJECTS
FUND
Total
Maintenance Nonmajor
Assessment Governmental
Districts Funds
3,483,415$ 70,036,161$
1,455,337
2,760 3,805,657
8,534
3,793,535
3,486,175$ 79,099,224$
3,085$ 1,554,392$
572,287
3,322
21,339
837,128
476,528
896,713
3,085 4,361,709
430,401
3,793,535
4,223,936
8,534
3,483,090 56,399,376
14,105,669
3,483,090 70,513,579
3,486,175$ 79,099,224$
137
City of Alameda
Non-Major Governmental Funds
Combining Statements of Revenues, Expenditures
and Changes in Fund Balance
For the Year Ended June 30, 2021
Community Asset Seizure/
Development Librar y Gas Tax Traffic Safet y

REVENUES
Property taxes -$ 2,865,267$ -$ -$
Other taxes
Licenses and permits 4,444,487
Developer fees
Revenue from other agencies 56,687 3,254,621
Charges for current services 1,670,415 5,411
Fines and forfeitures 182,837 3,005
Use of money and property 9,985 10,400 180 (175)
Other revenues 275 51,212
Total Revenues 6,307,999 2,988,977 3,254,801 2,830

EXPENDITURES
Current:

General government
Police
Fire
Public works 795,821
Communit
y Development 6,126,260
Community Services 4,404,380
Housing
Capital outlay 30,670 22,015 28,046
Debt service:

Principal
Interest
Total Expenditures 6,156,930 4,426,395 795,821 28,046

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 151,069 (1,437,418) 2,458,980 (25,216)

OTHER FINANCING SOURCES (USES)
Transfers in 2,073,000
Transfers
(out) (4,684) (4,230,522)
Total Other Financing Sources (Uses) (4,684) 2,073,000 (4,230,522) NET CHANGE IN FUND BALANCE 146,385 635,582 (1,771,542) (25,216) BEGINNING FUND BALANCES 1,657,369 4,238,194 4,125,728 41,004 ENDING FUND BALANCES 1,803,754$ 4,873,776 $ 2,354,186 $ 15,788 $

SPECIAL REVENUE FUNDS
138
Community
County Parking Commercial Develo pment
Measure B/BB Tidelands Meter Revitalization Block Grant Housin g -$ -$ -$ -$ -$ -$
5,461,321 1,537,745 1,658,318
504,782
25,964
133,809 597,059 (3,997) 49,296 147,238 98,493
71,250 220 1,372,577
5,595,130 597,059 500,785 120,546 1,685,203 3,155,352
771,425 719,791
52,500
391,176 1,803,955 2,211,801
823,925 719,791 391,176 1,803,955 2,211,801
5,595,130 (226,866) (219,006) (270,630) (118,752) 943,551 266,209
(1,574,414) (72,601) (250,726) (266,209)
(1,574,414) (72,601) (250,726)
4,020,716 (299,467) (469,732) (270,630) (118,752) 943,551 3,928,950 2,568,584 2,758,220 1,139,816 519,946 1,893,131 7,949,666$ 2,269,117$ 2,288,488$ 869,186$ 401,194$ 2,836,682$ (Continued)

SPECIAL REVENUE FUNDS
139
City of Alameda
Non-Major Governmental Funds
Combining Statements of Revenues, Expenditures
and Changes in Fund Balance
For the Year Ended June 30, 2021
Garbage/ Waste
Recycling Athletic Grants Reduction
Surcharge Recreation Fund Surchar ge

REVENUES
Property taxes -$ -$ -$ -$
Other taxes 223,696
Licenses and permits 7,500
Developer fees
Revenue from other agencies 62,497 1,719,390 271,855
Charges for current services 1,781,528 23,368 564,358
Fines and forfeitures
Use of money and property 1,953 392,430 (5,120) (6,238) Other 82,307 12,416 7,500
Total Revenues 225,649 2,318,762 1,757,554 837,475

EXPENDITURES
Current:

General government 208,296 4,585,532
Police 132,342
Fire 1,693,786
Public works 1,461,753
Community Development
Community Services
Housing 417,573
Capital outlay 589,621 3,272
Debt service:

Principal
Interest
Total Expenditures 208,296 4,585,532 2,833,322 1,465,025

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 17,353 (2,266,770) (1,075,768) (627,550)

OTHER FINANCING SOURCES (USES)
Transfers in 2,338,999 536,743
Transfers
(out) (102,898) (604,356)
Total Other Financing Sources (Uses) 2,236,101 536,743 (604,356) NET CHANGE IN FUND BALANCE 17,353 (30,669) (539,025) (1,231,906) BEGINNING FUND BALANCES 1,616,695 1,732,049 2,597,138 2,705,626 ENDING FUND BALANCES 1,634,048$ 1,701,380 $ 2,058,113 $ 1,473,720 $

SPECIAL REVENUE FUNDS
140

SPECIAL REVENUE FUNDS
Maintenance Vehicle Cit y Hall
Assessment Re gistration FISC and Librar y
Districts Fee Parking Lease Revenue Bonds Base Reuse
3,585,462$ - $ -$ -$ 654,717$ -$
325,823 315,233
19,404 16,424 34,229 (5,683) 1,842 15
3,604,866 342,247 34,229 309,550 656,559 15
805,109
2,319,511
1,373,410
1,869,168 400,000
693,573 81,473
3,124,620 1,373,410 2,562,741 481,473
480,246 342,247 34,229 (1,063,860) (1,906,182) (481,458) 363,000 315,000 1,942,000 690,000
(552,000) (520,000) (329,000) (93,000)
(189,000) (520,000) (14,000) (93,000) 1,942,000 690,000 291,246 (177,753) 20,229 (1,156,860) 35,818 208,542
9,382,978 327,616 565,053 3,733,879 1,447,205 78,434
9,674,224$ 149,863$ 585,282$ 2,577,019$ 1,483,023$ 286,976$ (Continued)

DEBT SERVICE FUNDS
141
City of Alameda
Non-Major Governmental Funds
Combining Statements of Revenues, Expenditures
and Changes in Fund Balance
For the Year Ended June 30, 2021
Construction Development Urban Runoff
Impact Streets/ Impact Storm Drain
Fee Trans portation Fee Fee

REVENUES
Property taxes 3,610,901$ 729,947$ -$ 2,444,428$ Other taxes
Licenses and permits 135,192
Developer fees 6,024,086 2,353,299
Revenue from other agencies 134,393
Charges for current services 283,226
Fines and forfeitures
Use of mone
y and property 15,323 1,380 39,054 (12,145)
Other revenues 19,521
Total Revenues 3,761,416 1,148,946 6,063,140 4,805,103

EXPENDITURES
Current:

General government 84,985 126,802
Police
Fire
Public works
Communit
y Development
Community Services 1,041,029
Housing
Capital outlay 514,600 3,617,140
Debt service:

Principal
Interest
Total Expenditures 84,985 1,682,431 3,617,140

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 3,676,431 (533,485) 6,063,140 1,187,963

OTHER FINANCING SOURCES (USES)
Transfers in 10,000 923,487 67,000
Transfers
(out) (440,222) (827,023) (295,231) (795,518)
Total Other Financing Sources (Uses) (430,222) 96,464 (295,231) (728,518) NET CHANGE IN FUND BALANCE 3,246,209 (437,021) 5,767,909 459,445 BEGINNING FUND BALANCES 2,268,003 2,766,875 3,288,387 2,385,197 ENDING FUND BALANCES 5,514,212$ 2,329,854$ 9,056,296$ 2,844,642$

CAPITAL PROJECTS FUNDS
142

CAPITAL

PROJECTS
FUND
Total
Maintenance Nonmajor
Assessment Governmental
District Funds
220,111$ 14,110,833 $
223,696
4,587,179
8,377,385
14,797,883
4,833,088
211,806
6,856 1,542,012
170,000 1,787,278
396,967 50,471,160
7,301,940
132,342
1,693,786
4,629,585
7,499,670
5,445,409
4,824,505
185,059 4,990,423
2,269,168
775,046
185,059 39,561,874
211,908 10,909,286
9,525,438
(10,958,404)
(1,432,966)
211,908 9,476,320
3,271,182 61,037,259
3,483,090$ 70,513,579$
143
City of Alameda
Budgeted Non-Major Funds
Combining Schedules of Revenues, Expenditures
and Changes in Fund Balances
Budget and Actual
For the Year Ended June 30, 2021
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)

REVENUES
Property taxes -$ - $ -$ 2,400,000$ 2,865,267$ 465,267$ Other taxes
Licenses and permits 3,775,000 4,444,487 669,487
Revenue from other agencies 227,500 (227,500) 256,000 56,687 (199,313) Charges for current services 1,339,000 1,670,415 331,415 30,000 5,411 (24,589) Fines and forfeitures 100,500 182,837 82,337
Use of money and property 3,000 9,985 6,985 17,000 10,400 (6,600) Other 275 275 51,212 51,212
Total Revenues 5,445,000 6,307, 999 862,999 2,703,000 2,988,977 285,977

EXPENDITURES
Current:

General government
Police
Fire
Public works
Community Development 6,309,107 6,126,260 182,847
Community Services 5,288,900 4,404,380 884,520
Housing
Capital outlay 32,577 30,670 1,907 57,600 22,015 35,585 Debt service:

Principal
Interest
Total Expenditures 6,341,684 6, 156,930 184,754 5,346,500 4,426,395 920,105

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (896,684) 151,069 1,047,753 (2,643,500) (1,437,418) 1,206,082

OTHER FINANCING SOURCES (USES)
Issuance of debt
Transfers in 2,073,000 2,073,000
Transfers (out) (25,000) (4,684) 20,316
Total Other Financing Sources (Uses) (25,000) (4,684) 20,316 2,073,000 2,073,000 NET CHANGE IN FUND BALANCE (921,684)$ 146,385 1,068,069$ (570,500)$ 635,582 1,206,082$ BEGINNING FUND BALANCES (DEFICITS) 1,657,369 4,238,194
ENDING FUND BALANCES (DEFICITS) 1,803,754$ 4,873,776$

COMMUNITY DEVELOPMENT

SPECIAL REVENUE FUNDS

LIBRARY
144
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) -$ - $ -$ -$ - $ - $ - $ -$ -$
3,270,400 3,254,621 (15,779) 1,000 (1,000) 4,558,000 5,461,321 903,321 3,005 3,005
5,000 180 (4,820) (175) (175) 133,809 133,809
88,900 (88,900)
3,364,300 3,254,801 (109,499) 1,000 2,830 1,830 4,558,000 5,595,130 1,037,130 10,000 10,000
866,586 795,821 70,765
21,000 28,046 (7,046)
866,586 795,821 70,765 31,000 28,046 2,954
2,497,714 2,458,980 (38,734) (30,000) (25,216) 4,784 4,558,000 5,595,130 1,037,130 (5,436,202) (4,230,522) 1,205,680 (4,973,824) (1,574,414) 3,399,410 (5,436,202) (4,230,522) 1,205,680 (4,973,824) (1,574,414) 3,399,410 (2,938,488)$ (1,771,542) 1,166,946$ (30,000)$ (25,216) 4,784$ (415,824)$ 4,020,716 4,436,540$ 4,125,728 41,004 3,928,950
2,354,186$ 15,788$ 7,949,666$
(Continued)

ASSET SEIZURE/TRAFFIC SAFETYGAS TAX

SPECIAL REVENUE FUNDS

COUNTY MEASURE B/BB
145
City of Alameda
Budgeted Non-Major Funds
Combining Schedules of Revenues, Expenditures
and Changes in Fund Balances
Budget and Actual
For the Year Ended June 30, 2021
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)

REVENUES
Property taxes -$ -$ - $ -$ - $ -$
Other taxes
Licenses and permits
Revenue from other agencies
Charges for current services 448,300 504,782 56,482
Fines and forfeitures
Use of money and property 774,000 597,059 (176,941) 1,000 (3,997) (4,997) Othe
r
Total Revenues 774,000 597, 059 (176,941) 449,300 500,785 51,485

EXPENDITURES
Current:

General government 1,027,470 771,425 256,045 990,117 719,791 270,326 Police
Fire
Public works 202,500 52,500 150,000
Community Development
Community Services
Housing
Capital outlay
Debt service:

Principal
Interest
Total Expenditures 1,229,970 823,925 406,045 990,117 719,791 270,326

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (455,970) (226,866) 229,104 (540,817) (219,006) 321,811

OTHER FINANCING SOURCES (USES)
Issuance of debt
Transfers in
Transfers (out) (350,500) (72,601) 277,899 (1,614,558) (250,726) 1,363,832 Total Other Financing Sources (Uses) (350,500) (72,601) 277,899 (1,614,558) (250,726) 1,363,832 NET CHANGE IN FUND BALANCE (806,470)$ (299,467) 507,003$ (2,155,375)$ (469,732) 1,685,643$ BEGINNING FUND BALANCES (DEFICITS) 2,568,584 2,758,220
ENDING FUND BALANCES (DEFICITS) 2,269,117$ 2,288,488$

PARKING METER

SPECIAL REVENUE FUNDS

TIDELANDS
146
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) -$ -$ -$ - $ - $ -$ -$ - $ -$
3,326,900 1,537,745 (1,789,155)
1,175,000 1,658,318 483,318
30,000 25,964 (4,036)
90,000 49,296 (40,704) 115,000 147,238 32,238 102,000 98,493 (3,507) 71,250 71,250 220 220 1,382,500 1,372,577 (9,923)
90,000 120,546 30,546 3,441,900 1,685,203 (1,756,697) 2,689,500 3,155,352 465,852 594,448 391,176 203,272 3,842,471 1,803,955 2,038,516 2,930,901 2,211,801 719,100 594,448 391,176 203,272 3,842,471 1,803,955 2,038,516 2,930,901 2,211,801 719,100 (504,448) (270,630) 233,818 (400,571) (118,752) 281,819 (241,401) 943,551 1,184,952 515,571 266,209 (249,362) 95,000 (95,000)
(515,572) (266,209) 249,363
(1) 1 95,000 (95,000)
(504,448)$ (270,630) 233,818$ (400,572)$ (118,752) 281,820$ (146,401)$ 943,551 1,089,952$ 1,139,816 519,946 1,893,131
869,186$ 401,194$ 2,836,682$
(Continued)

REVITALIZATION BLOCK GRANT

COMMUNITY DEVELOPMENT

SPECIAL REVENUE FUNDS

COMMERCIAL

HOUSING
147
City of Alameda
Budgeted Non-Major Funds
Combining Schedules of Revenues, Expenditures
and Changes in Fund Balances
Budget and Actual
For the Year Ended June 30, 2021
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)

REVENUES
Property taxes -$ -$ -$ 2,500 $ -$ (2,500) $ Other taxes 178,000 223,696 45,696
Licenses and permits
Revenue from other agencies 65,000 62,497 (2,503)
Charges for current services 1,734,485 1,781,528 47,043 Fines and forfeitures
Use of money and property 1,000 1,953 953 684,479 392,430 (292,049) Other 36,500 82,307 45,807
Total Revenues 179,000 225,649 46,649 2,522,964 2,318,762 (204,202)

EXPENDITURES
Current:

General government 299,918 208, 296 91,622 5,003,744 4,585,532 418,212 Police
Fire
Public works
Community Development
Community Services
Housing
Capital outlay
Debt service:

Principal
Interest
Total Expenditures 299,918 208, 296 91,622 5,003,744 4,585,532 418,212

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (120,918) 17,353 138,271 (2,480,780) (2,266,770) 214,010

OTHER FINANCING SOURCES (USES)
Issuance of debt
Transfers in 2,338,999 2,338,999
Transfers (out) (192,676) (102,898) 89,778
Total Other Financing Sources (Uses) 2,146,323 2,236,101 89,778 NET CHANGE IN FUND BALANCE (120,918) $ 17,353 138,271 $ (334,457) $ (30,669) 303,788 $ BEGINNING FUND BALANCES (DEFICITS) 1,616,695 1,732,049
ENDING FUND BALANCES (DEFICITS) 1,634,048 $ 1,701,380 $

ATHLETIC RECREATION

SPECIAL REVENUE FUNDS

GARBAGE/RECYCLING SURCHARGE
148
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) -$ - $ - $ -$ - $ - $ 3,460,013$ 3,585,462 $ 125,449$ 7,500 7,500
3,702,682 1,719,390 (1,983,292) 220,000 271,855 51,855
23,368 23,368 443,300 564,358 121,058
1,000 (5,120) (6,120) (6,238) (6,238) 22,366 19,404 (2,962) 15,500 12,416 (3,084) 7,500 7,500 2,382 (2,382)
3,719,182 1,757,554 (1,961,628) 663,300 837,475 174,175 3,484,761 3,604,866 120,105 25,000 25,000 1,374,862 805,109 569,753
545,000 132,342 412,658
4,699,155 1,693,786 3,005,369
1,082,881 1,461,753 (378,872) 2,837,279 2,319,511 517,768 473,438 417,573 55,865
572,729 589,621 (16,892) 4,000 3,272 728
6,315,322 2,833,322 3,482,000 1,086,881 1,465,025 (378,144) 4,212,141 3,124,620 1,087,521 (2,596,140) (1,075,768) 1,520,372 (423,581) (627,550) (203,969) (727,380) 480,246 1,207,626 1,239,003 536,743 (702,260) 363,000 363,000
(636,000) (604,356) 31,644 (584,000) (552,000) 32,000
1,239,003 536,743 (702,260) (636,000) (604,356) 31,644 (221,000) (189,000) 32,000 (1,357,137)$ (539,025) 818,112$ (1,059,581)$ (1,231,906) (172,325)$ (948,380)$ 291,246 1,239,626$ 2,597,138 2,705,626 9,382,978
2,058,113$ 1,473,720 $ 9,674,224 $
(Continued)

GRANTS FUND WASTE REDUCTION SURCHARGE ASSESSMENT DISTRICTS

SPECIAL REVENUE FUNDS

MAINTENANCE
149
City of Alameda
Budgeted Non-Major Funds
Combining Schedules of Revenues, Expenditures
and Changes in Fund Balances
Budget and Actual
For the Year Ended June 30, 2021
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)

REVENUES
Property taxes -$ -$ -$ -$ -$ -$
Other taxes
Licenses and permits
Revenue from other agencies 334,000 325,823 (8,177)
Charges for current services
Fines and forfeitures
Use of money and property 1,500 16,424 14,924 267,000 34,229 (232,771) Othe
r
Total Revenues 335,500 342, 247 6,747 267,000 34,229 (232,771)

EXPENDITURES
Current:

General government
Police
Fire
Public works
Community Development
Community Services
Housing
Capital outlay
Debt service:

Principal
Interest
Total Expenditures

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 335,500 342,247 6,747 267,000 34,229 (232,771)

OTHER FINANCING SOURCES (USES)
Issuance of debt
Transfers in 315,000 315,000
Transfers (out) (1,680,000) (520,000) 1,160,000 (329,000) (329,000) Total Other Financing Sources (Uses) (1,680,000) (520,000) 1,160,000 (14,000) (14,000) NET CHANGE IN FUND BALANCE (1,344,500)$ (177,753) 1,166,747 $ 253,000$ 20,229 (232,771)$ BEGINNING FUND BALANCES (DEFICITS) 327,616 565,053
ENDING FUND BALANCES (DEFICITS) 149,863$ 585,282$

SPECIAL REVENUE FUNDS

PARKINGVEHICLE REGISTRATION FEE
150

SPECIAL REVENUE FUND DEBT SERVICE FUNDS
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable) -$ - $ - $ 600,000$ 654,717 $ 54,717$ -$ - $ -$ 217,000 315,233 98,233
10,000 (5,683) (15,683) 8,000 1,842 (6,158) 15 15
227,000 309,550 82,550 608,000 656,559 48,559 15 15
1,887,062 1,373,410 513,652
1,000 1,000
1,870,000 1,869,168 832 400,000 400,000
697,000 693,573 3,427 290,000 81,473 208,527
1,888,062 1,373,410 514,652 2,567,000 2,562,741 4,259 690,000 481,473 208,527 (1,661,062) (1,063,860) 597,202 (1,959,000) (1,906,182) 52,818 (690,000) (481,458) 208,542 1,942,000 1,942,000 690,000 690,000
(93,000) (93,000)
(93,000) (93,000) 1,942,000 1,942,000 690,000 690,000
(1,754,062)$ (1,156,860) 597,202$ (17,000)$ 35,818 52,818$ -$ 208,542 208,542 $ 3,733,879 1,447,205 78,434
2,577,019$ 1,483,023$ 286,976$

BASE REUSE DEBT SERVICEFISC LEASE REVENUE CITY HALL AND LIBRARY BONDS 151
City of Alameda, California
People and Places in the City

City of Alameda, California
Internal Service Funds
Internal Service Funds are used to finance and account for special activities and services performed by a designated department for other departments in the City on a cost reimbursement basis.

The concept of major funds does not extend to internal service funds because they do not do business with outside parties. Generally accepted accounting principles require that for the Statement of Ac tivities, the net revenues or expenses of each internal service fund be eliminated by netting them agains t the operations of the other City departments which generated them. The remaining balance sheet items are consolidated with these same funds in the Statement of Net Position. However, internal service funds are still presented sepa rately in the Fund financial statements, including the funds below:

Vehicle and Equipment Replacement
This fund accumulates funds for the replacement of worn and obsolete vehicles and equipment.

Central Services
This fund accounts for the City’s central services oper ations, reimbursed through charges assessed to other City departments.

Fleet Maintenance
This fund accounts for the maintenance of vehicles used by all City departments. Reimbursements occur through charges assessed to other City departments.

Technology Services
This fund accounts for information technology. Reimbursements occur through administrative charges assessed to other departments based upon their proportional share of program costs.

Facilities Replacement and Maintenance
This fund accumulates funds for the costs associated with the replacement and maintenance of the City’s facilities.

Workers’ Compensation Insurance
This fund accounts for the expenditures for administration of the City’s workers’ compensation program, payment of workers’ compensation claim payments, and related insurance premiums.

General Liability Insurance
This fund accounts for the administration of the City’s risk management program, payment of general liability claims and insurance premiums for general liability and property coverage.

Unemployment Insurance
This fund accounts for the administration of the City’s unemployment insurance program and payment of unemployment claim payments.

Other Post-Employment Benefits (OPEB)/Vacation
This fund accounts for expenditures for other post-employment benefits (OPEB) and accumulates funds for future payoffs of accrued leave balances.

Pension Stabilization Fund
This fund accounts for expenditures for the City’s pension obligation in future periods when unforeseen changes or adjustments to required contributions requires additional funding beyond anticipated expenditures. 153
City of Alameda
Internal Service Funds
Combining Statements of Net Position
June 30, 2021
Vehicle and
Equipment Central Fleet Technolo gy
Replacement Services Maintenance Services
ASSETS:

Current Assets:

Cash and cash equivalents 8,504,893$ 92,573$ 444,601$ 7,788,353$ Accounts receivable 40,221 73,567
Due from other funds
Pre
paids and deposits 214,107
Total Current Assets 8,545,114 92,573 518,168 8,002,460 Noncurrent Assets:

Restricted investments
Advances to other funds 280,887
Ca
pital assets:

Non-depreciable
Depreciable, net of accumulated depreciation 5,353,890 153,662 Total Non-current Assets 5,634,777 153,662
Total Assets 14,179,891 92,573 518,168 8,156,122

DEFERRED OUTFLOWS OF RESOURCES
Related to pensions
Current Liabilities:

Accounts payable 466,106 170,319 161,982
Interest payable 47,962
Accrued payroll 23,837 29,624
Refundable deposits
Claims payable:

Due within one year
Equipment lease payable:

Due within one year 313,305
Total Current Liabilities 827,373 194,156 191,606
Long-Term Liabilities:

Claims payable:

Due in more than one year
Equipment purchase agreement
Due in more than one year 1,866,757
Total Long-Term Liabilities 1,866,757
Total Liabilities 2,694,130 194,156 191,606

NET POSITION
Net investment in capital asset 3,173,828 153,662
Unrestricted 8,311,933 92,573 324,012 7,810,854
Total Net Position (Deficits) 11,485,761$ 92,573$ 324,012$ 7,964,516$ 154
Facilities
Replacement Workers' General Pension
and Com pensation Liabilit y Unemployment Stabilization Maintenance Insurance Insurance Insurance OPEB/Vacation Fund Total 4,483,904$ 12,946,367$ 6,183,238$ 411,516$ 7,840,752$ 790,153$ 49,486,350$ 22,328 75 1,680 137,871
214,107
4,483,904 12,968,695 6,183,313 411,516 7,842,432 790,153 49,838,328 11,492,333 11,492,333
280,887
1,576,499 1,576,499
5,507,552
1,576,499 11,492,333 18,857,271
6,060,403 12,968,695 6,183,313 411,516 7,842,432 12,282,486 68,695,599 5,000,000 5,000,000
344,783 515,078 218,728 17,626 1,894,622
47,962
10,489 6,492 18,121 88,563
18,979 18,979
4,413,560 2,059,094 6,472,654
313,305
355,272 4,935,130 2,314,922 17,626 8,836,085
10,881,049 2,692,978 13,574,027
1,866,757
10,881,049 2,692,978 15,440,784
355,272 15,816,179 5,007,900 17,626 24,276,869
3,327,490
5,705,131 (2,847,484) 1,175,413 411,516 7,824,806 17,282,486 46,091,240 5,705,131$ (2,847,484) $ 1,175,413 $ 411,516 $ 7,824,806 $ 17,282,486 $ 49,418,730 $ 155
City of Alameda
Internal Service Funds
Combining Statements of Revenues, Expenses and
Changes in Fund Net Position
For the Year Ended June 30, 2021
Vehicle and
Equipment Central Fleet Technolo gy
Replacement Services Maintenance Services

OPERATING REVENUES
Charges for services -$ -$ 111,613$ -$
Miscellaneous 2,234,233 2,382,040 2,667,122
Total Operating Revenues 2,234,233 2,493,653 2,667,122

OPERATING EXPENSES
General administrative 457,671 196,314
Wages and benefits 709,103 1,066,755
Insurance and claims
Contractual services 118,426 250,424 1,533,457
Supplies and maintenance 11,382 917,717 40,230
Depreciation 1,100,291 63,188
Total Operating Expenses 1,230,099 2,334,915 2,899,944
Operating Income (Loss) 1,004,134 158,738 (232,822)

NONOPERATING REVENUES (EXPENSES)
Interest income 30,830 108 602 12,052
Interest expense (65,385)
Gain (loss) from sale of capital assets
Total Nonoperating Revenues (Expenses) (34,555) 108 602 12,052 Income (Loss) Before Transfers 969,579 108 159,340 (220,770) Transfers in 117,000
Net Transfers 117,000
Change in Net Position 1,086,579 108 159,340 (220,770)
BEGINNING NET POSITION 10,399,182 92,465 164,672 8,185,286 ENDING NET POSITION 11,485,761$ 92,573 $ 324,012 $ 7,964,516 $ 156
Facilities
Replacement Workers' General Pension
and Com pensation Liabilit y Unemployment Stabilization Maintenance Insurance Insurance Insurance OPEB/Vacation Fund Total -$ 3,827,439 $ 3,491,110$ -$ 4,517,186 $ -$ 11,947,348 $ 2,361,664 9,645,059
2,361,664 3,827,439 3,491,110 4,517,186 21,592,407
455,722 18,317 28,745 250,000 1,406,769
361,300 211,857 562,217 479,187 3,390,419
2,684,880 1,174,428 147,116 3,784,683 7,791,107
876,272 146,105 640,684 810 28,416 3,594,594
145,586 1,030 90,606 1,206,551
1,163,479
1,838,880 3,062,189 2,496,680 147,926 4,513,870 28,416 18,552,919 522,784 765,250 994,430 (147,926) 3,316 (28,416) 3,039,488 (3,821) 23,877 13,716 (1,493) 9,434 1,481,239 1,566,544 (65,385)
(3,821) 23,877 13,716 (1,493) 9,434 1,481,239 1,501,159 518,963 789,127 1,008,146 (149,419) 12,750 1,452,823 4,540,647 732,047 200,000 9,000,000 10,049,047
732,047 200,000 9,000,000 10,049,047
1,251,010 789,127 1,008,146 (149,419) 212,750 10,452,823 14,589,694 4,454,121 (3,636,611) 167,267 560,935 7,612,056 6,829,663 34,829,036 5,705,131$ (2,847,484) $ 1,175,413 $ 411,516 $ 7,824,806 $ 17,282,486 $ 49,418,730 $ 157
City of Alameda
Internal Service Funds
Combining Statements of Cash Flows
For the Year Ended June 30, 2021
Vehicle and
Equipment Central Fleet Technolo gy
Replacement Services Maintenance Services

CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers 2,235,692$ - $ 2,512,505$ 2,465,987$ Payments to suppliers (129,808) (1,095,571) (1,514,953) Payments to employees (1,161,845) (1,261,563)
Insurance and claims paid
Cash Flows from Operating Activities 2,105,884 255,089 (310,529)

CASH FLOWS FROM NONCAPITAL

FINANCING ACTIVITIES
Interfund receipts 44,612
Interfund payments
Transfers In (out) 117,000
Cash Flows from Noncapital Financing Activities 161,612

CASH FLOWS FROM CAPITAL AND RELATED

FINANCING ACTIVITIES
Acquisition of capital assets, net (2,337,305)
Proceeds from the sale of assets
Princi
pal payments on capital debt (304,450)
Cash Flows from Capital and Related
Financing Activities (2,641,755)

CASH FLOWS FROM INVESTING ACTIVITIES
Sales (purchases) of restricted investments
Interest (34,555) $108 602 12,052
Cash Flows from Capital and Related
Investing Activities (34,555) 108 602 12,052
Net Cash Flows (408,814) 108 255,691 (298,477)
Cash and investments at beginning of period 8,913,707 92,465 188,910 8,086,830 Cash and investments at end of period 8,504,893$ 92,573 $ 444,601$ 7,788,353$ Reconciliation of operating income (loss) to net cash flows from operating activities:

Operating income (loss) 1,004,134$ - $ 158,738 $ (232,822)$ Adjustments to reconcile operating income to cash flows from operating activities:

Depreciation 1,100,291 63,188
Pension related amounts
Change in assets and liabilities:
(Increase) decrease in accounts receivable 1,459 18,852 (201,135) Increase (decrease) accounts payable 72,570 58,734
Increase (decrease) accrued payroll 4,929 1,506
Increase (decrease) refundable deposits
Claims payable
Cash Flows from Operating Activities 2,105,884 $ - $ 255,089 $ (310,529)$ 158
Facilities
Replacement Workers' General Pension
and Com pensation Liabilit y Unemployment Stabilization Maintenance Insurance Insurance Insurance OPEB/Vacation Fund Total 2,362,383$ 3,817,305 $ 3,537,084 $ 504 $ 4,516,778$ - $ 21,448,238$ (970,976) (269,461) (539,565) (810) (3,767,057) (28,416) (8,316,617) (815,945) (229,413) (586,726) (73,665) (729,187) (5,000,000) (9,858,344) (3,351,134) (1,262,695) (147,116) (4,760,945)
575,462 (32,703) 1,148,098 (221,087) 20,534 (5,028,416) (1,487,668) 44,612
732,047 200,000 9,000,000 10,049,047
732,047 200,000 9,000,000 10,093,659
(1,576,499) (3,913,804)
(304,450)
(1,576,499) (4,218,254)
(5,440,877) (5,440,877)
(3,821) 23,877 13,716 (1,493) 9,434 1,481,239 1,501,159 (3,821) 23,877 13,716 (1,493) 9,434 (3,959,638) (3,939,718) (272,811) (8,826) 1,161,814 (222,580) 229,968 11,946 448,019 4,756,715 12,955,193 5,021,424 634,096 7,610,784 778,207 49,038,331 4,483,904$ 12,946,367 $ 6,183,238 $ 411,516 $ 7,840,752 $ 790,153 $ 49,486,350 $ 522,784$ 765,250 $ 994,430 $ (147,926)$ 3,316$ (28,416)$ 3,039,488$ 1,163,479
(5,000,000) (5,000,000)
719 (10,134) 26,995 504 (408) (163,148)
50,882 (122,326) 191,725 (73,665) 17,626 195,546
1,077 761 4,236 12,509
18,979 18,979
(666,254) (88,267) (754,521)
575,462$ (32,703) $ 1,148,098 $ (221,087) $ 20,534 $ (5,028,416)$ (1,487,668) $ 159
City of Alameda, California
People and Places in the City

STATISTICAL SECTION

City of Alameda, California
People and Places in the City

City of Alameda, California
Statistical Section

This section of the City’s Annual Comprehensive Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information presents with respect to the City’s overall financial health. In contrast to the Fi nancial Section, the Statistical Section information is not subje ct to independent audit.

Financial Trends
These schedules contain trend information to help the reader understand how the City’s financial performance and wellbeing have changed over time:

1. Net Position by Component

2. Changes in Net Position

3. Fund Balances of Governmental Funds

4. Changes in Fund Balances of Governmental Funds

5. Basic Revenue Index (BRI)
Revenue Capacity
These schedules contain information to help the reader assess the City’s most significant local revenue source, property taxes:

1. Assessed and Estimated Actual Value of Taxable Property

2. Property Tax Rates - All Direct and Overlapping Governments

3. Principal Property Taxpayers

4. Property Tax Levies and Collections

5. Alameda Municipal Power Electric Operating Revenues by Source

6. Alameda Municipal Power Customer Accounts

7. Alameda Municipal Power Pricing Changes

8. Alameda Municipal Power Top Ten Customers
Debt Capacity
These schedules present information to help the reader assess the affordability of the City’s current levels of outstanding debt and the City’s ability to issue additional debt in the future:

1. Ratio of Outstanding Debt by Type

2. Ratio of General Bonded Debt Outstanding

3. Computation of Direct and Overlapping Debt

4. Computation of Legal Bonded Debt Margin

5. Sewer Services Fund Debt Coverage

6. Alameda Municipal Power Fund Debt Coverage
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place:

1. Demographic and Economic Statistics

2. Principal Employers
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the City’s financial report relates to the services the City provides and the activities it performs:

1. Full-Time Equivalent City Government Employees by Function

2. Operating Indicators by Function/Program

3. Capital Asset Statistics by Function/Program
Sources
Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports fo r
the relevant year.
163
City of Alameda
Net Position by Component
Last Ten Fiscal Years
(Accrual Basis of Accounting)
June 30,
2012 2013 2014 2015
Governmental activities
Invested in capital assets,
net of related debt 249,436,223 $ 234,318,345 $ 248,976,617 $ 259,298,585 $ Restricted 57,906,023 65,063,180 64,148,556 47,340,040
Unrestricted 17,632,805 27,586,926 22,934,963 (132,097,358) Total governmental activities net position 324,975,051$ 326,968,451 $ 336,060,136 $ 174,541,267 $ Business-type activities
Invested in capital assets,
net of related debt 44,169,706 $ 32,309,753 $ 36,408,147 $ 72,843,612 $ Restricted 29,374,748 29,591,239 31,979,615
Unrestricted 18,085,254 17,235,250
Total business-type activities net position 62,254,960$ 61,684,501 $ 65,999,386 $ 122,058,477 $ Primary government
Invested in capital assets,
net of related debt 293,605,929 $ 266,628,098 $ 285,384,764 $ 332,142,197 $ Restricted 57,906,023 94,437,928 93,739,795 79,319,655
Unrestricted 35,718,059 27,586,926 22,934,963 (114,862,108) Total primary government net position 387,230,011$ 388,652,952 $ 402,059,522 $ 296,599,744 $ Source: City Finance Department
(a) The City implemented the provisions of GASB Statement No. 75 in Fiscal Year 2018.

Prior year amounts have not been restated.
164
2016 2017 2018 (a) 2019 2020 2021
257,003,558$ 258,670,492$ 261,696,061$ 269,397,500$ 297,299,908$ 306,331,058$ 49,089,375 53,494,064 91,334,323 110,162,983 123,984,088 137,396,539 (128,732,691) (138,357,430) (218,481,489) (214,617,059) (231,645,513) (217,133,326) 177,360,242$ 173,807,126$ 134,548,895$ 164,943,424$ 189,638,483$ 226,594,271$ 77,527,656$ 87,340,526$ 93,673,669$ 98,017,520$ 102,850,134$ 110,041,879$ 32,369,845 29,829,844 26,462,741 26,055,896 25,632,407 20,951,023 23,848,220 31,259,576 28,810,985 33,134,340 35,731,238 37,380,508 133,745,721$ 148,429,946$ 148,947,395$ 157,207,756$ 164,213,779$ 168,373,410$ 334,531,214$ 346,011,018$ 355,369,730$ 367,415,020$ 400,150,042$ 416,372,937$ 81,459,220 83,323,908 117,797,064 136,218,879 149,616,495 158,347,562 (104,884,471) (107,097,854) (189,670,504) (181,482,719) (195,914,275) (179,752,818) 311,105,963$ 322,237,072$ 283,496,290$ 322,151,180$ 353,852,262$ 394,967,681$ 165
City of Alameda
Changes in Net Position
Last Ten Fiscal Years
(Accrual Basis of Accounting)
For the Fiscal Year Ended June 30,
2012 2013 2014 2015
Expenses
Governmental Activities:

General Government 15,237,357$ 13,569,619$ 15,040,701$ 15,566,704$ Police 25,904,606 30,431,546 30,848,485 30,310,509
Fire 23,970,035 27,374,670 27,866,089 30,247,841
Public Works 13,738,143 12,664,895 14,344,311 20,576,356 Community Development 5,718,100 20,805,104 15,947,090 21,707,219 Community Services 8,741,325 8,296,495 6,995,080 6,808,162 Housing 14,452,825 1,222,077 2,004,958 1,883,617
Interest on Long-Term Debt 4,142,152 1,409,201 2,307,691 984,165 Total Governmental Activities Expenses 111,904,543 115,773,607 115,354,405 128,084,573 Business-Type Activities:

Ferry Services
Golf Course 3,814,979
Sewer Service 3,864,222 5,125,508 5,339,491 6,069,959
Alameda Municipal Power (a) 47,958,639
Total Business-Type Activities Expenses 7,679,201 5,125,508 5,339,491 54,028,598 Total Primary Government Expenses 119,583,744$ 120,899,115$ 120,693,896$ 182,113,171$ Component Units:

Housing Authority -$ -$ -$ -$
Alameda Municipal Power $54,520,590 $53,896,090 $50,466,129 Total Component Units 54,520,590$ 53,896,090$ 50,466,129$ -$ Program Revenues
Governmental Activities:

Charges for Services:

General Government 6,899,450$ 7,507,538$ 9,820,809$ 9,928,486$ Police 1,181,455 1,125,359 1,772,066 1,557,542
Fire 2,156,989 2,625,040 2,242,200 2,902,627
Public Works 6,694,970 7,329,147 6,915,488 8,048,038
Community Development 9,261,637 9,717,218 10,267,249 10,900,322 Community Services 2,771,489 3,477,649 3,238,812 3,273,681 Housing 45 2,500
Operating Grants and Contributions 9,898,631 7,434,721 6,416,506 5,806,249 Capital Grants and Contributions 5,111,573 3,504,228 3,188,964 6,156,043 Total Government Activities Program Revenues 43,976,194 42,720,945 43,862,094 48,575,488 Business-Type Activities:

Charges for Services:

Ferry Services
Golf Course 3,958,933
Sewer Service 7,447,477 8,966,628 9,734,164 9,906,045
Operating Grants and Contributions
Capital Grants and Contributions
Alameda Municipal Power (a) 58,759,497
Total Business-Type Activities Program Revenue 11,406,410 8,966,628 9,734,164 68,665,542 Total Primary Government Program Revenues 55,382,604$ 51,687,573$ 53,596,258$ 117,241,030$ Component Units:

Charges for Services:

Housing Authority -$ -$ -$ -$
Alameda Municipal Power $51,526,195 $56,157,469 $59,774,933 Operating Grants and Contributions
Total Component Units Program Revenues 51,526,195$ 56,157,469$ 59,774,933$ -$ Net (Expense)/Revenue
Governmental Activities (67,928,349)$ (73,052,662)$ (71,492,311)$ (79,509,085)$ Business-Type Activities 3,727,584 3,841,120 4,394,673 14,636,944 Component Units Activities
Total Primary Government Net Expense (64,200,765)$ (69,211,542)$ (67,097,638)$ (64,872,141)$ (a) Reclassified as Enterprise Fund
Source: City Finance Department
166
2016 2017 2018 2019 2020 2021
17,312,864$ 22,613,362$ 27,567,933$ 19,673,640$ 16,958,175$ 24,018,435$ 31,230,359 34,249,563 38,203,293 45,109,592 45,157,133 40,102,074 33,701,192 34,380,486 39,616,964 47,372,705 47,027,551 44,780,248 21,611,732 22,493,921 21,305,228 16,185,664 25,410,099 22,362,750 19,926,259 20,854,357 19,124,858 16,626,697 17,247,041 17,476,605 8,192,325 7,825,636 10,785,609 4,172,503 11,591,599 9,388,765 2,298,345 1,955,239 3,343,039 2,868,235 3,987,655 4,941,615 1,104,604 983,685 1,298,608 1,276,122 1,035,955 801,228 135,377,680 145,356,250 161,245,532 153,285,158 168,415,208 163,871,720 5,189,080 5,062,826 4,915,297 5,565,859 6,018,295 5,861,001 54,131,601 53,311,749 59,886,250 63,101,513 63,831,890 64,313,277 59,320,681 58,374,575 64,801,547 68,667,372 69,850,185 70,174,278 194,698,361$ 203,730,825$ 226,047,079$ 221,952,530$ 238,265,393$ 234,045,998$ -$ -$ -$ -$ -$ -$
-$ -$ -$ -$ -$ -$
9,914,050$ 11,400,449$ 9,068,963$ 3,289,980$ 3,562,474$ 3,692,675$ 1,461,077 1,378,632 1,228,935 1,121,616 973,227 816,240 3,161,928 3,134,509 3,306,867 3,494,527 3,961,473 4,457,369 8,869,421 9,955,286 9,280,689 10,023,569 10,727,879 11,023,739 11,261,739 13,523,363 13,044,105 13,541,107 13,119,155 12,037,359 3,550,181 3,671,588 4,423,440 4,564,276 4,224,548 4,308,651 5,209,502 6,045,401 9,032,803 5,700,076 8,402,139 10,771,830 6,270,247 7,058,283 12,386,648 10,877,405 22,446,476 25,423,585 49,698,145 56,167,511 61,772,450 52,612,556 67,417,371 72,531,448 9,404,120 9,690,132 10,498,070 11,216,139 11,243,295 11,721,286 546,768 489,751
62,012,528 63,449,233 63,455,688 66,567,838 66,703,706 66,260,963 71,963,416 73,629,116 73,953,758 77,783,977 77,947,001 77,982,249 121,661,561$ 129,796,627$ 135,726,208$ 130,396,533$ 145,364,372$ 150,513,697$ -$ -$ -$ -$ -$ -$
-$ -$ -$ -$ -$ -$
(85,679,535)$ (89,188,739)$ (99,473,082)$ (100,672,602)$ (100,997,837)$ (91,340,272)$ 12,642,735 15,254,541 9,152,211 9,116,605 8,096,816 7,807,971 (73,036,800)$ (73,934,198)$ (90,320,871)$ (91,555,997)$ (92,901,021)$ (83,532,301)$ (Continued)
167
City of Alameda
Changes in Net Position
Last Ten Fiscal Years
(Accrual Basis of Accounting)
For the Fiscal Year Ended June 30,
2012 2013 2014 2015
General Revenues and Other Changes in Net Position
Governmental Activities:

Taxes:

Property Taxes 27,965,276$ 26,937,823$ 38,088,577$ 39,057,776$ Incremental property tax 5,748,695
Urban runoff special assessments 1,844,180 1,842,568
Sales Taxes 6,035,950 5,932,043 6,260,057 9,340,828
Utility Users Tax 8,787,016 9,095,600 8,500,351 8,330,638 Transfer Tax 4,921,032 5,582,337 6,730,655 8,258,516
Franchise Tax 4,477,426 4,439,185 3,919,351 1,496,491
Transient Occupancy Tax 1,294,691 1,396,432 1,612,283 1,928,731 Property Tax In-Lieu 1,271,253 1,112,896 1,382,336 1,002,871 Other Taxes 1,489,036 2,788,444 4,175,348 4,460,633
Motor Vehicle In-Lieu, Unrestricted 5,874,386 5,897,923 Use of Money and properties 617,852 4,039,370 5,068,924 4,465,916 Gain/Loss from disposal of capital assets
Miscellaneous 5,803,134 1,531,218 4,428,117 2,787,194
Transfers 207,258 269,538 417,997 3,027,004
Extraordinary item 40,764,726 1,007,196
Total Government Activities 117,101,911 70,865,377 80,583,996 85,163,794 Business-Type Activities:

Use of Money and properties 192,687 33,149 337,908 279,817 Miscellaneous 58,146 5,495 301 90,277
Transfers (207,258) (269,538) (417,997) (3,027,004)
Total Business-Type Activities 43,575 (230,894) (79,788) (2,656,910) Total Primary Government 117,145,486$ 70,634,483$ 80,504,208$ 82,506,884$ Component Units Activities:

Use of Money and properties 119,699$ 98,920$ 86,293$ -$ Miscellaneous 54,142 176,225 1,548,129
Increase in value of certain NPCA projects and reserves 1,447,092 (789,918) Total Component Units Activities 173,841$ 1,722,237$ 844,504$ -$ Change in Net Position
Governmental Activities 49,173,562$ (2,187,285)$ 9,091,684$ 5,654,709$ Business-Type Activities 3,771,159 3,610,226 4,314,885 11,980,034 Total Primary Government $52,944,721 $1,422,941 $13,406,569 $17,634,743 Changes in Net Position
Component Units Activities (2,820,554)$ 3,983,616$ 10,153,308$ -$ Source: City Finance Department
168
2016 2017 2018 2019 2020 2021
43,665,977$ 45,651,646$ 48,745,491$ 52,886,048$ 56,814,066$ 63,421,779$ 10,187,902 10,740,580 10,967,955 14,072,162 17,601,220 19,439,879 8,368,125 9,061,296 9,336,326 9,080,200 8,809,356 9,091,389 9,451,755 10,333,813 15,679,218 17,134,704 15,195,899 18,536,929 2,396,918 2,473,634 2,473,040 2,481,408 2,346,930 2,706,949 2,174,973 2,126,612 2,146,038 2,292,350 1,952,077 1,996,230 1,157,160 1,167,072 1,203,862 1,227,585 1,210,667 1,362,667 1,831,805 1,500,155 1,339,471 1,239,629 1,173,089 789,190 5,136,494 6,957,802 5,300,785 9,009,003 12,672,608 5,774,634 12,971,153 16,751,109
1,160,517 2,312,459 1,478,855 1,060,459 3,359,972 664,514 2,831,684 2,891,411 8,463,788 3,832,474 4,557,012 4,511,900 88,363,310 95,216,480 120,105,982 131,067,131 125,692,896 128,296,060 685,463 507,799 1,014,577 2,181,706 2,952,331 441,610
1,190,730 1,813,296 1,235,399 794,524 513,888 421,950
(2,831,684) (2,891,411) (8,463,788) (3,832,474) (4,557,012) (4,511,900) (955,491) (570,316) (6,213,812) (856,244) (1,090,793) (3,648,340) 87,407,819$ 94,646,164$ 113,892,170$ 130,210,887$ 124,602,103$ 124,647,720$ -$ -$ -$ -$ -$ -$
-$ -$ -$ -$ -$ -$
2,683,775$ 6,027,741$ 20,632,900$ 30,394,529$ 24,695,059$ 36,955,788$ 11,687,244 14,684,225 2,938,399 8,260,361 7,006,023 4,159,631 $14,371,019 $20,711,966 $23,571,299 $38,654,890 $31,701,082 $41,115,419 -$ -$ -$ -$ -$ -$
169
City of Alameda
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
June 30,
2012 2013 2014 2015
General Fund
Nonspendable 2,685,205 $ 2,200,000 $ 2,261,871 $ 2,591,009 $ Restricted
Committed 400,000
Assigned 315,045 3,000,000
Unassigned 19,618,518 21,293,014 29,071,830 30,165,670
Total General Fund 23,018,768 $ 23,493,014 $ 31,333,701 $ 35,756,679 $ All Other Governmental Funds
Nonspendable 8,894 $ 9,395$ -$
Restricted 24,442,662 $21,293,253 23,349,158 $50,922,259 Committed 35,055,243 36,907,806 40,790,003 17,909,767
Assigned
Unassigned (1,600,776) (657,163) (14,081)
Total all other governmental funds 57,906,023$ 57,543,896$ 64,148,556$ 68,817,945$ Source: City of Alameda Finance Department
(a) The change in total fund balance for the General Fund and other government funds is explained in Management's Discussion and Analysis.
170
2016 2017 2018 2019 2020 2021
872,617$ 1,575,550$ 782,440$ 1,591,812$ 1,011,157$ 937,545$ 6,043,000 11,568,004
6,281,684 8,525,868 15,354,029 16,173,757 18,220,882 15,544,000 27,284,395 28,726,377 25,072,934 23,445,239 35,413,925 56,594,050 40,481,696$ 50,395,799$ 41,209,403$ 41,210,808$ 54,645,964$ 73,075,595$ (a) -$ -$ 1,115$ 2,784,114$ 2,878,114$ 1,200,533$ $48,736,806 $52,352,209 64,846,207 84,169,854 98,743,112 113,087,912 21,233,524 21,938,791 23,357,819 25,959,758 15,258,412 14,105,669 1,346,011
(2,519,632) (831,560) (510,884) (1,780,179)
69,970,330$ 71,771,368$ 87,373,581$ 112,402,842$ 115,099,459$ 129,740,125$ (a) 171
City of Alameda
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
For the Fiscal Year Ended June 30,
2012 2013 2014 2015
Revenues
Property taxes 36,215,189 $ 30,299,428 $ 40,030,928 $ 41,511,670 $ Other local taxes 28,731,775 29,441,266 31,532,635 34,307,623 Licenses and permits 2,962,194 3,220,082 3,649,220 4,834,523 Developer fees
Revenue from other agencies 15,017,173 15,017,173 8,383,901 10,472,056 Charges for current services 16,992,163 16,992,163 16,881,772 16,601,934 Fines and forfeitures 1,498,967 1,712,558 1,940,326 1,579,608 Use of money and property 16,284,321 16,284,321 17,130,340 17,472,748 Other 3,716,012 1,366,611 4,638,439 2,898,060
Total Revenues 121,417,794 114,333,602 124,187,561 129,678,222 Expenditures
Current:

General government 8,505, 007 13,996,654 14,807,500 17,213,207 Police 27,697,939 28,538,108 28,767,165 28,682,826
Fire 23,735,534 23,262,699 24,269,387 27,961,054
Public Works 5,045,594 4,320,452 4,432,334 4,558,311
Community Development 17, 959,889 17,828,779 14,920,522 16,145,736 Community Services 8,358,813 6,704,716 5,755,718 5,797,562 Culture and Recreation 1,178,313
Housing 14,513,011 2,051,269 2,282,435 1,883,479
Capital outlay 12,969,550 13,306,766 12,836,513 16,402,343 Debt service:

Principal repayment 2,844, 360 1,710,214 17,866,047 1,906,000 Interest and fiscal charges 3,700,852 1,431,642 2,398,072 791,566 Total Expenditures 125,330,549 114,329,612 128,335,693 121,342,084 Excess (deficiency) of revenues over
(under) expenditures (3,912,755) 3,990 (4,148,132) 8,336,138 Other Financing Sources (Uses)
Contribution from (to) other entities
Transfers in 22,598,326 13,236,792 19,087,597 18,842,178 Transfers (out) (25,611,556) (14,172,654) (19,626,956) (19,093,145) Sale of capital assets 8,213
Payment to escrow agent
Bond issuance premium (discount) on debt 512,838
Issuance of long-term debt 18,620,000
Total other financing sources (uses) (3,005,017) (935,862) 18,593,479 (250,967) Extraordinary item (20,454,496) 1,007,196
Net Chan
ge in fund balances (27,372,268)$ (931,872)$ 14,445,347$ 9,092,367$ Debt service as a percentage of
noncapital expenditures 6.2% (a) 2.9% (a) 17.6% (a) 2.5% (a) NOTE:
(a) Calculation of percentage only includes non-capitalized expenditures that is not being reflected on the capital outlay line.

Source: City Finance Department
172
2016 2017 2018 2019 2020 2021
43,665,978$ 45,651,646$ 48,681,491$ 52,452,829$ 56,775,439$ 63,421,779$ 36,600,031 38,995,559 43,717,400 48,515,927 48,919,948 54,861,864 4,599,669 5,353,671 5,435,030 5,824,270 6,790,077 7,036,885 750,446 4,452,877 8,377,385
11,799,727 13,461,497 20,936,253 17,541,700 26,662,943 28,373,176 18,801,604 19,328,754 18,586,442 12,671,775 13,859,317 13,047,885 1,505,913 1,141,664 1,235,816 1,180,423 1,121,348 882,204 18,278,665 18,876,427 19,512,445 21,843,012 24,354,283 16,928,549 1,088,097 4,920,412 2,362,537 1,314,287 3,987,166 2,052,715 136,339,684 147,729,630 160,467,414 162,094,669 186,923,398 194,982,442 22,246,735 21,770,743 26,765,743 23,865,017 16,398,248 25,265,961 28,816,779 30,853,005 38,367,994 33,970,893 34,337,435 34,404,813 28,529,688 30,652,703 37,809,548 35,153,085 36,280,599 38,153,099 4,742,674 4,918,684 5,452,709 5,384,542 5,782,721 6,960,509 17,686,827 18,077,608 17,180,357 16,544,318 15,803,663 16,994,640 6,453,987 6,382,003 7,584,297 8,522,259 9,521,485 9,053,756 2,298,345 1,955,239 4,056,097 2,828,691 3,941,148 5,392,053 17,408,895 22,147,962 28,835,746 25,675,554 47,389,700 25,874,682 2,149,564 1,957,436 2,153,966 7,131,495 2,311,954 2,490,674 1,128,676 1,163,030 1,229,634 1,335,732 998,964 784,811 131,462,170 139,878,413 169,436,091 160,411,586 172,765,917 165,374,998 4,877,514 7,851,217 (8,968,677) 1,683,083 14,157,481 29,607,444 20,777,712 24,650,200 29,546,528 33,127,183 55,347,106 57,442,538 (22,913,024) (22,300,789) (27,133,187) (31,436,709) (53,372,814) (53,979,685) 1,514,513 12,971,153 16,751,109
3,000,000 4,906,000
864,688 3,863,924 15,384,494 23,347,583 1,974,292 3,462,853 5,742,202$ 11,715,141$ 6,415,817$ 25,030,666$ 16,131,773$ 33,070,297$

2.6% (a) 2.3% (a) 2.2% (a) 5.9%
(a) 2.4% (a) 2.2% (a)
173
City of Alameda
Basic Revenue Index (BRI)
Calendar Year 2021 Wage Increase (a)
Object Series Revenue Type FY18-19 FY19-20 Value Change % Change 31000 General Fund Property Tax 42,037,930$ 45,733,246 $ 3,695,316 $ 8.79% 32100 Bradley Burns Sales Tax 11,527,704 10,119,901 (1,407,804) -12.21% 32200 Property Transfer Tax 17,134,704 15,195,899 (1,938,805) -11.32% 32300 Utility Users Tax 9,077,313 8,809,355 (267,958) -2.95% 32400 Transient Occupancy Tax 2,292,350 1,952,077 (340,273) -14.84% TOTALS 82,070,001 $ 81,810,477 $ (259,524) $ -0.32% 50% Of Total Increase applicable to Wage Increases -0.16% Minimum/Maximum per MOUs 2.0% to 5.0%
BRI WAGE INCREASE EFFECTIVE JANUARY -0.16%
(a) City's safety groups memoranda of understanding provide for a minimum of 2% and a maximum of 5% wage increase in January 2021.
174
Calendar Year 2022 Wage Increase
FY20-21 Value Change % Change
49,310,947$ 3,577,701 $ 7.82%
10,695,541 575,640 5.69%
18,536,929 3,341,030 21.99%
8,748,859 (60,496) -0.69%
1,996,230 44,153 2.26%
89,288,506$ 7,478,029$ 9.14%

4.57%

1.0% to 2.0%

4.57%
175
City of Alameda
Assessed and Estimated Actual
Value of Taxable Property
Last Ten Fiscal Years
Fiscal Secured Percent Unsecured Percent Total
Year Property Change Property Change Assessed
2012 8,851,986,300$ 0.96% 524,614,003$ 2.00% 9,387,095,373$ 2013 8,927,046,504 0.85% 496,000,269 -5.45% 9,423,046,773 2014 9,472,636,207 6.11% 476,558,073 -3.92% 9,949,194,280 2015 10,074,322,282 6.35% 457,262,328 -4.05% 10,531,584,610 2016 10,688,573,728 6.10% 466,708,505 2.07% 11,155,282,233 2017 11,404,111,189 6.69% 454,198,686 -2.68% 11,858,309,875 2018 12,033,671,681 5.52% 511,300,374 12.57% 12,544,972,055 2019 12,983,045,316 7.89% 560,482,846 9.62% 13,543,528,162 2020 13,948,085,350 7.43% 632,158,585 12.79% 14,580,243,935 2021 14,872,870,275 6.63% 629,020,320 -0.50% 15,501,890,595 NOTE: California cities do not set their own direct tax rate. The State Constitution establishes the rate at 1% and allocates a portion of that amount, by an annual calculation, to all the taxing entities within a tax rate area.

Estimated full market information is not available. See the following page for the total direct rate applied to the assessed valuation base for each year.

Source: Alameda County Auditor Controller Office Certificate of Assessed Valuations $0
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
$11
$12
$13
$14
$15
$16
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Billions
Unsecured Property Secured Property
176
City of Alameda
Property Tax Rates
All Direct and Overlapping Governments
Last Ten Fiscal Years
Basic Alameda Oakland
County Unified East Bay EBMUD Unified
Fiscal Wide School Regional Special School Dist. Peralta County Year Levy (a) City Bonds Park District 1 Bonds BART College Go Bond Total 2012 1.0000$ 0.0249$ 0.0527$ 0.0071 $ 0.0067$ -$ 0.0041$ 0.0436$ -$ 1.1391$ 2013 1.0000 0.0260 0.0553 0.0051 0.0068 0.0000 0.0043 0.0434 0.0000 1.1409 2014 1.0000 0.0260 0.0534 0.0078 0.0066 0.0000 0.0075 0.0419 0.0000 1.1432 2015 1.0000 0.0250 0.0503 0.0085 0.0047 0.0000 0.0045 0.0412 0.0000 1.1342 2016 1.0000 0.0240 0.1043 0.0067 0.0034 0.0000 0.0026 0.0337 0.0000 1.1747 2017 1.0000 0.0230 0.0967 0.0032 0.0028 0.0000 0.0080 0.0256 0.0000 1.1593 2018 1.0000 0.0225 0.0653 0.0021 0.0011 0.0000 0.0084 0.0310 0.0000 1.1304 2019 1.0000 0.0220 0.0974 0.0057 0.0000 0.0000 0.0070 0.0269 0.0112 1.1702 2020 1.0000 0.0215 0.1036 0.0060 0.0000 0.0000 0.0120 0.0257 0.0108 1.1796 2021 1.0000 0.0215 0.0737 0.0014 0.0000 0.0000 0.0139 0.0452 0.0036 1.1593 Source: Alameda County Assessors Office
(a) The City of Alameda is .3331, Alameda County is .3293, Alameda USD is .1956 and other government agencies represent .142 of the basic county wide levy
177
City of Alameda
Principal Property Taxpayers
Current Year and Ten Years Ago
2020-21 2011-12
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
G and I IX Marina Village Office Park LP 369,952,000$ 1 2.39% -$ BRE Alameda I MF Property Owner LLC 239,701,824 2 1.55% MGP XII South Shore Center LLC 219,182,197 3 1.41%
Alameda Multifamily Owner LLC 197,675,770 4 1.28%
SCG Harbor Bay Parkway Phase I LLC 113,800,000 5 0.73%
Catellus Alameda Retail LLC 109,518,715 6 0.71%
Abbott Laboratories Inc 93,281,543 7 0.60% 32,761,433 9 0.35% Harbor Bay Parkway LLC 80,278,538 8 0.52%
Huang Bill Libiao 52,407,876 9 0.34%
VUE Alameda Owner LP 51,627,310 10 0.33%
Legacy Partners I Alameda LLC 210,076,003 1 2.24%
KW Alameda LLC 105,529,615 2 1.12%
Jamestown Harsch Alameda Towne Centre 83,165,293 3 0.89% Amstar - 105, LLC 63,244,450 4 0.67%
Wind River Systems Inc 59,371,217 5 0.63%
SKS Harbor Bay Associates LLC 41,265,906 6 0.44%
Peet's Operating Company 40,359,035 7 0.43%
SRM Marina Investors LLC 35,410,051 8 0.38%
CREA Bridgeside LLC 32,274,000 10 0.34%
Subtotal 1,527,425,773$ 9.86% 703,457,003$ 7.49% Total Net Assessed Valuation:

Fiscal Year 2020-21 15,501,890,595$
Fiscal Year 2011-12 9,387,095,373$
Source: Alameda County Assessor Fiscal Year Combined Tax Rolls.

2.39%

1.55%

1.41%

1.28%

0.73%

0.71%

0.60%

0.52%

0.34%

0.33%
90%
Current Year Taxpayers
G and I IX Marina Village Office Park LP
BRE Alameda I MF Property Owner LLC
MGP XII South Shore Center LLC
Alameda Multifamily Owner LLC
SCG Harbor Bay Parkway Phase I LLC
Catellus Alameda Retail LLC
Abbott Laboratories Inc
Harbor Bay Parkway LLC
Huang Bill Libiao
VUE Alameda Owner LP
Others
178
City of Alameda
Property Tax Levies and Collections
Last Ten Fiscal Years
#
#
#
Percent
of Total
Current Percent Delinquent Total Tax
Fiscal Total Tax of Levy Tax Tax Collections
Year Tax Levy (a) Collections Collected Collections (a) Collections to Tax Levy 2012 (b) 36,215,189$ 36,215,189 $ 100% - $ 36,215,189$ 100% 2013 30,299,428 30,299,428 100% - 30,299,428 100%
2014 31,960,530 31,960,530 100% - 31,960,530 100%
2015 34,093,132 34,093,132 100% - 34,093,132 100%
2016 36,292,959 36,292,959 100% - 36,292,959 100%
2017 36,090,128 36,090,128 100% - 36,090,128 100%
2018 38,726,740 38,726,740 100% - 38,726,740 100%
2019 42,037,930 42,037,930 100% - 42,037,930 100%
2020 45,733,246 45,733,246 100% - 45,733,246 100%
2021 49,310,946 49,310,946 100% - 49,310,946 100%
Source: City of Alameda Records
NOTE: Current tax collections beginning in 1993 have been reduced by a mandatory tax reallocation imposed by the State of California
(a) During fiscal year 1995, the County began providing the City 100% of its tax levy under an agreement (Teeter Plan) which allows the County to keep all interest and delinquency charges collected.
(b) Upon the dissolution of the Community Impr ovement Commission effective January 31, 2012, a Successor Agency assumed the revenues of the former Community Improvement Commission. $0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
$5.0
$5.5
$6.0
2012 2013 2014 2015
Millions
Total Tax Levy (a) Tax Collections
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
$35.0
$40.0
$45.0
$50.0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Millions
Tax Collections
179
City of Alameda
Alameda Municipal Power
Electric Operating Revenues by Source
Last Ten Fiscal Years
Sales of Electricity
Fiscal Commercial Commercial Street Lighting/ Miscellaneous Plant Lease & GHG/C&T/LCFS Year Residential Small Medium Municipal Othe r Services Jobbing Sales Related Sales Total 2012 18,488,086$ 23,964,056 $ 5,666,350 $ 1,793,977 $ 464,788 $ 687,220 $ 370,392$ 51,434,869$ 2013 18,781,411 24,967,214 4,552,958 1,779,313 623,308 666,112 390,500 4,283,423$ 56,044,239 2014 18,974,096 25,554,219 4,088,510 1,859,914 660,902 773,677 843,737 6,938,783 59,693,838 2015 18,849,656 25,660,869 3,435,518 2,047,549 797,198 742,071 402,567 6,824,069 58,759,497 2016 19,869,104 27,071,358 4,278,240 1,973,689 1,028,631 947,765 479,791 6,363,950 62,012,528 2017 21,510,126 27,177,335 4,366,885 1,958,154 913,248 1,275,191 1,177,119 5,071,175 63,449,233 2018 23,902,788 28,500,186 4,338,898 1,965,664 793,870 1,146,507 519,200 3,435,082 64,602,195 2019 24,414,010 28,354,299 4,580,711 2,225,142 1,453,471 510,524 1,380,846 4,159,358 67,078,362 2020 25,933,443 29,341,107 5,069,275 2,238,296 149,514 362,644 1,062,614 2,909,457 67,066,350 2021 27,946,417 26,015,342 5,845,303 2,058,753 320,052 284,931 1,778,194 2,296,903 66,545,895 Kilowatt- Hour Sales
Fiscal Commercial Commercial Street Lighting/ Total Peak Year Residential Small Medium Municipal Othe r KWH Demand (KW) 2012 139,665,283 172,445,087 45,512,960 12,880,649 3,283,309 373,787,288 67,188 2013 135,924,914 176,259,228 35,487,830 12,585,314 3,186,846 363,444,132 68,100 2014 131,209,422 175,075,476 31,951,900 12,537,513 3,138,994 353,913,305 69,308 2015 125,431,220 174,257,771 26,587,830 12,809,590 3,116,374 342,202,785 63,372 2016 125,831,929 176,575,883 31,490,040 12,375,517 2,546,494 348,819,863 64,283 2017 126,850,402 172,520,353 30,127,960 11,428,198 2,838,825 343,765,738 63,738 2018 124,589,523 168,873,305 28,321,180 10,723,565 2,518,330 335,025,903 59,624 2019 125,510,907 164,807,447 28,712,440 11,064,274 2,034,011 332,129,079 54,362 2020 129,591,566 166,745,235 31,301,090 11,539,236 2,605,615 341,782,742 61,990 2021 138,607,950 146,664,721 35,641,270 10,470,953 2,548,136 333,933,030 62,664 2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Fiscal Year

ELECTRIC OPERATIONS
Residential Commercial Small Commercial Medium Municipal & Street Lighting Miscellaneous & Other GHG/C&T/LCFS Related Sales 180
City of Alameda
Alameda Municipal Power
Customer Accounts
Last Ten Fiscal Years
Number of Electric Customer Accounts: Street Total
Fiscal Commercial Commercial Lighting Customer
Year Residential Small Medium Municipal & Other Accounts 2012 30,194 3,776 12 327 29 34,338
2013 30,260 3,781 9 331 24 34,405
2014 30,293 3,786 12 363 28 34,482
2015 30,307 3,834 8 361 15 34,525
2016 30,377 3,735 8 363 11 34,494
2017 30,495 3,764 12 362 15 34,648
2018 30,625 3,778 12 363 12 34,790
2019 31,201 3,808 8 358 21 35,396
2020 31,822 3,852 8 361 24 36,067
2021 31,937 3,870 10 359 25 36,201
NOTE: Telecommunication operation was sold in November 2008 - 10 year historical data is zero for 2009 onwards Telecommunications* Alameda Point
Fiscal Customer Telephone
Year Cable TV Internet Data Accounts Customer Accounts 2012 - - - 135
2013 - - - 130
2014 - - - 102
2015 - - - 100
2016 - - - 88
2017 - - - 79
2018 - - - 66
2019 - - - 59
2020 - - - 58
2021 - - - 58
61 *Telecommunication operation was sold in November 2008 33,000
33,500
34,000
34,500
35,000
35,500
36,000
36,500
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021F

ISCAL YEAR
Customer Accounts as of June 30,
Electric Customers Alameda Point Phone Customers Telecom Customers 181
City of Alameda
Alameda Municipal Power
Pricing Changes
Last Ten Fiscal Years
Electric Rate Changes
Percent
Date Change
July 1, 2012 3.25%
July 1, 2013 3.25%
July 1, 2014 2.00%
July 1, 2015 4.60%
July 1, 2016 5.00%
July 1, 2017 5.00%
July 1, 2018 1.00%
July 1, 2019 2.50%
July 1, 2020 0.00%
July 1, 2021 0.00% (Fiscal Year 2022)
182

City of Alameda
Alameda Municipal Power
Top 10 Customers
For the Fiscal Year Ended June 30, 2021
2021 Percent of Percent of
System System
No. Customer Type of Business KWHS Total Revenues Total 1 U.S. Coast Guard Regulation, Admin. of Transportation 18,762,228 10.63% 2,969,059 $ 9.47% 2 Maritime Administration Regulation, Admin. of Transportation 6,811,414 3.86% 1,089,333 3.47% 3 Penumbra, Inc. Medical Devices Developer/Manufacturer 5,360,128 3.04% 892,386 2.85% 4 Peets Coffee & Tea Coffee Roaster and Retailer 5,178,400 2.93% 877,563 2.80% 5 G&I IX Marina Village Office Park Real Estate Management 5,072,565 2.87% 922,775 2.94% 6 Sila Nanotechnologies An Engineered Materials Company 4,518,536 2.56% 807,369 2.58% 7 Alameda Unified School District Public School District 4,323,261 2.45% 787,231 2.51% 8 Alameda Commercial Properties Real Estate Management 3,892,500 2.21% 778,989 2.48% 9 Abbott Diabetes Care Healthcare Industry 3,385,680 1.92% 502,989 1.60% 10 Wind River Systems Inc. Computer Programming Services 3,056,673 1.73% 509,907 1.63% Top 10 Customers KWHS 60,361,385 34.21% 10,137,601 $ 32.33% Total Kilowatt Hour Sales System Totals 176,467,607 100% 31,352,112 $ 100% 183
City of Alameda
Ratio of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities
Certificates General
Fiscal of Obligation Revenue Loans &
Year Participation Bond Bonds Lease Purchases Total
2012 (b) 11,600,000$ 9,155,000$ 12,000,000$ 9,878,854$ 42,633,854$ 2013 (b) 10,700,000 8,925,000 11,700,000 11,440,764 42,765,764 2014 (b) 11,855,000 9,010,000 11,400,000 10,963,100 43,228,100 2015 (b) 10,930,000 8,610,000 11,000,000 10,995,218 41,535,218 2016 (b) 9,960,000 8,270,000 10,600,000 15,807,781 44,637,781 2017 (b) 9,210,000 7,925,000 10,200,000 14,812,439 42,147,439 2018 (b) 8,736,269 7,634,770 9,800,000 13,642,297 39,813,336 2019 (b) 7,905,750 7,264,303 9,400,000 12,427,012 36,997,065 2020 (b) 7,045,231 6,878,836 9,000,000 11,388,194 34,312,261 2021 (b) 6,149,712 6,483,369 8,600,000 10,253,070 31,486,151 Business-Type Activities
COPS & Total Percentage
Fiscal Revenue Loans & Primary of Personal Per
Year Bonds Lease Purchases Total Government Income (a) Capita (a) 2012 2,160,000$ 3,498,778 $ 5,658,778 $ 48,292,632 $ 1.75% 647.01 $ 2013 14,715,000 2,956,277 17,671,277 60,437,041 2.14% 804.48 2014 14,465,000 2,542,379 17,007,379 60,235,479 1.77% 788.29 2015 14,190,000 2,033,841 16,223,841 57,759,059 1.87% 760.38 2016 13,905,000 1,616,170 15,521,170 60,158,951 1.88% 758.84 2017 13,615,000 1,187,296 14,802,296 56,949,735 1.66% 712.51 2018 37,472,390 (c) 746,920 38,219,310 78,032,646 2.21% 989.47 2019 35,878,793 (c) 448,878 36,327,671 73,324,736 1.98% 924.46 2020 34,160,196 (c) 291,527 34,451,723 68,763,984 1.80% 845.68 2021 32,356,599 (c) 196,836 32,553,435 64,039,586 1.55% 791.75 NOTE: Debt amounts exclude any premiums, discounts, or other amortization amounts.

Sources: City of Alameda
State of California, Department of Finance (population) U.S. Department of commerce, Bureau of the Census (income) (a) See the Demographic Statistics for personal income and population data. (b) Upon the dissolution of the Community Improvement Commission effective January 31, 2012, a Successor Agency assumed the liabilities of the former Community Improvement Commission, including the Tax Allocation Bonds. (b) Includes Alameda Municipal Power debt balances beginning in fiscal year 2018.

Prior year amounts have not been restated
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
(in Thousands)
Total Governmental Total Business
184
City of Alameda
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
General Bonded Debt Outstanding
Less Cash and Percentage o f
General Plus Investments Net Actual Taxable
Fiscal Certificates o f Obligation Unamortized Restricted fo r Bonds Value of Per Year Participation Bond Bond Premium Repayment of Debt Outstanding Property Capita 2012 11,600,000$ 9,155,000 $ - $ -$ 20,755,000$ 0.22% 278.07 2013 10,700,000 8,925,000 - - 19,625,000 0.21% 261.23
2014 11,855,000 9,010,000 490,790 - 21,355,790 0.21% 279.48 2015 10,930,000 8,610,000 459,812 - 19,999,812 0.19% 263.29 2016 9,960,000 8,270,000 428,011 - 18,658,011 0.17% 235.35 2017 9,210,000 7,925,000 397,025 - 17,532,025 0.15% 219.35 2018 8,435,000 7,570,000 366,039 (930,503) 15,440,536 0.12% 195.79 2019 7,630,000 7,205,000 335,053 (978,478) 14,191,575 0.10% 178.92 2020 6,795,000 6,825,000 304,067 (978,860) 12,945,207 0.09% 159.20 2021 5,925,000 6,435,000 273,081 (1,032,965) 11,600,116 0.07% 143.42 Source: City of Alameda Finance Department
$0
$50
$100
$150
$200
$250
$300
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Fiscal Year Ended June 30
General Bonded Debt Outstanding
Per Capita
185
City of Alameda
Computation of Direct and Overlapping Debt
June 30, 2021
2020-21 Assessed Valuation: $15,501,890,595
Total Debt City's Share of
DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/21 % Applicable (a) Debt 6/30/21 Alameda County 191,300,000 $ 4.677% 8,947,101 $
Bay Area Rapid Transit District 1,871,890,000 1.810% 33,881,209 Peralta Community College District 437,205,000 12.815% 56,027,821 Alameda Unified School District 198,456,506 100.00% 198,456,506 East Bay Regional Park District 133,170,000 2.896% 3,856,603 City of Alameda 6,435,000 100.00% 6,435,000
City of Alameda Facilities District No. 13-1 15,355,000 100.00% 15,355,000 TOTAL NET DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT 322,959,240 $ (b) DIRECT AND OVERLAPPING GENERAL FUND DEBT:

Alameda County and Coliseum Authority General Fund Obligations 790,122,500$ 4.677% 36,954,029$ Alameda-Contra Costa Transit District Certificates of Participation 11,655,000 5.538% 645,454 Peralta Community College District Pension Obligations 133,284,008 12.815% 17,080,346 Alameda Unified School District General Fund Obligations 5,303,000 100% 5,303,000 City of Alameda General Fund Obligations 5,925,000 100% 5,925,000 (b) TOTAL OVERLAPPING GENERAL FUND OBLIGATION DEBT 65,907,828$ OVERLAPPING TAX INCREMENT DEBT (Successor Agency): $48,595,000 100% 48,595,000$ Total Direct Debt 12,360,000$
Total Overlapping Debt 425,102,069$
COMBINED TOTAL DEBT 437,462,069$ (b)
(a) Percentage of overlapping debt applicable to the City is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the City divided by the district's total taxable assessed value.
(b) Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax allocation bonds and non-bonded capital lease obligations.

Ratios to 2020-21 Assessed Valuation:

Direct Debt ($6,435,000) 0.04%
Total Direct and Overlapping Tax and Assessment Debt 2.08% Total Direct Debt ($12,360,000) 0.08%
Combined Total Debt 2.82%
Ratios to Redevelopment Successor Agency Incremental Valuation ($3,042,551,980):

Total Overlapping Tax Increment Debt 1.60%
NOTE: The overlap is calculated based upon information by the City and the County of Alameda. 186
City of Alameda
Computation of Legal Bonded Debt Margin
June 30, 2021
ASSESSED VALUATION:

Secured property assessed value, net of
exempt real property 14,867,004,566 $
BONDED DEBT LIMIT (15% OF ASSESSED VALUE) (a) 2,230,050,685 $ AMOUNT OF DEBT SUBJECT TO LIMIT:

Total Bonded Debt 53,589,680 $
Less:

Revenue Bonds 40,956,599
Certificates of Participation 6,149,712
Amount of debt subject to limit 6,483,369
LEGAL BONDED DEBT MARGIN 2,223,567,316$
Total net debt
Total Net Debt Legal applicable to the limit
Fiscal Debt Applicable to Debt as a percentage
Year Limit Limit Margin of debt limit
2012 1,327,797,945$ 9,155,000$ 1,318,642,945$ 0.69% 2013 1,413,457,016 8,925,000 1,404,532,016 0.64%
2014 1,478,724,777 9,090,000 1,469,634,777 0.62%
2015 1,510,066,600 8,610,000 1,501,456,600 0.57%
2016 1,602,204,317 8,270,000 1,593,934,317 0.52%
2017 1,709,534,936 7,925,000 1,701,609,936 0.47%
2018 1,804,066,088 7,570,000 1,796,496,088 0.42%
2019 1,946,576,941 7,205,000 1,939,371,941 0.37%
2020 2,091,332,946 6,878,836 2,084,454,110 0.33%
2021 2,230,050,685 6,483,369 2,223,567,316 0.29%
(a) California Government Code, Section 43605 sets the debt limit at 15%. The Code section was enacted prior to the change in being assessed value to full market value when it was previously 25% of market value. Thus, the limit shown as 3.75% is one-fourth the limit to account for the adjustment of showing assessed valuation at full cash value.

Source: City Finance Department
187
City of Alameda
Sewer Fund Debt Coverage
Last Ten Fiscal Years
Debt Service Requirements
Net Revenue
Fiscal Gross Operating Available for
Year Revenue (a) Expenses (b) Debt Service Principal Interest Total Coverage 2012 7,638,530$ 2,609,730 $ 5,028,800 $ 703,047 $ 219,274 $ 922,321 $ 5.45 2013 8,972,123 3,748,512 5,223,611 2,571,399 346,976 2,918,375 1.79 2014 10,072,496 3,702,154 5,757,611 250,000 456,319 706,319 8.15 2015 10,011,701 4,475,317 5,536,384 275,000 447,069 722,069 7.67 2016 10,278,327 5,305,530 4,972,797 285,000 438,719 723,719 6.87 2017 10,197,953 4,043,407 6,154,546 290,000 430,069 720,069 8.55 2018 10,671,202 2,973,134 7,698,068 300,000 418,269 718,269 10.72 2019 11,495,009 4,720,299 6,774,710 315,000 405,969 720,969 9.40 2020 12,347,227 3,388,912 8,958,315 375,000 392,169 767,169 11.68 2021 11,694,525 3,897,775 7,796,750 390,000 376,869 766,869 10.17 NOTE: (a) Includes all Sewer Operating Revenues, Non-operating Interest Revenue, Connection Fees, other Non-operating Revenue (b) Includes all Sewer Operating Expenses, less Depreciation Source: City of Alameda Annual Financial Statements

0.00 1.00

2.00 3.00

4.00 5.00

6.00 7.00

8.00 9.00

10.00 11.00

12.00 13.00
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Coverage
188
City of Alameda
Alameda Municipal Power Fund Debt Coverage
Last Ten Fiscal Years
Revenues Not Debt Service Requirements
Available Net Revenue
Fiscal Gross for Operating Available for
Year Revenue (a) Debt Service (b) Expenses (c) Debt Service Principal Interest Total Coverage 2012 51,698,976$ - $ 43,284,441$ 8,414,535$ 952,770 $ 1,677,854$ 2,630,624$ 3.20 2013 57,875,814 4,283,423 44,964,882 8,627,509 1,101,205 1,651,892 2,753,097 3.13 2014 59,861,226 6,938,783 40,809,073 12,113,370 1,129,824 1,617,655 2,747,479 4.41 2015 59,022,915 6,824,069 41,755,514 10,443,332 1,158,581 1,554,056 2,712,637 3.85 2016 63,509,684 6,363,950 47,864,750 9,280,984 1,130,000 1,510,325 2,640,325 3.52 2017 65,735,599 5,071,175 46,926,046 13,738,378 1,170,000 1,461,044 2,631,044 5.22 2018 65,532,532 3,435,082 51,123,219 10,974,231 1,220,000 1,406,364 2,626,364 4.18 2019 69,044,773 4,159,358 55,616,579 9,268,836 1,275,000 1,342,703 2,617,703 3.54 2020 69,124,622 2,909,457 56,426,290 9,788,875 1,340,000 1,273,787 2,613,787 3.75 2021 64,305,751 2,296,903 57,265,781 4,743,067 1,410,000 1,199,156 2,609,156 1.82 NOTE: (a) Includes all Municipal Power operating revenues, non-operating interest revenue, other non-operating revenue (b) GHG / C&T related sales
(c) Includes all Municipal Power operating expenses, less depreciation and interest Source: City of Alameda Annual Financial Statements

0.00 1.00

2.00 3.00

4.00 5.00

6.00 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Coverage
189
City of Alameda
Demographic and Economic Statistics
Last Ten Fiscal Years
Total Per Capita Alameda City
Fiscal City Personal Personal Unemployment County Population Year Population Income Income Rate (%) Population % of County 2012 74,640 2,763,776,399$ 36,962$ 6.5% 1,532,137 4.87% 2013 75,126 2,824,096,775 37,591 6.2% 1,548,681 4.85%
2014 76,413 3,406,033,062 44,574 7.6% 1,578,891 4.83%
2015 75,961 3,092,904,037 40,717 5.1% 1,574,497 4.82%
2016 79,277 3,207,096,000 40,454 4.1% 1,627,865 4.87%
2017 79,928 3,423,524,000 42,832 3.6% 1,645,359 4.86%
2018 78,863 3,529,109,000 44,153 3.3% 1,660,202 4.75%
2019 79,316 3,695,508,000 46,592 2.8% 1,669,301 4.75%
2020 81,312 3,828,228,000 47,080 2.6% 1,670,834 4.87%
2021 80,884 4,118,360,000 50,916 8.5% 1,656,591 4.88%
Source: California State Department of Finance

0.00%

2.50%

5.00%

7.50%

10.00%
2012 2013 2014 2015
Unemployment Rate (%)

3.00%

3.20%

3.40%

3.60%

3.80%

4.00%
2012 2013 2014 2015
City Population as a % of County Population
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
2012 2013 2014 2015
Millions
Total Personal Income
$0
$10
$20
$30
$40
$50
$60
$70
2012 2013 2014 2015
Per Capita Personal Income

0.00%

2.50%

5.00%

7.50%

10.00%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Unemployment Rate (%)
4%
5%
6%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
City Population % of County
1,450
1,500
1,550
1,600
1,650
1,700
Thousands
Alameda County Population
$0
$5
$10
$15
$20
$25
$30
$35
$40
$45
$50
$55
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Thousands
Per Capita Personal Income
190
City of Alameda
Principal Employers
Current Year and Nine Years Ago
2020-21 2011-12
Percentage Percentage
Number of of Total City Number of of Total City
Employer Employees Rank Employment Employees Rank Employment Penumbra, Inc 2,244 1 2.76%
Alameda Unified School District 1,018 2 1.25% 1,330 2 1.78% The North Face 859 3 1.06% 600 3 0.80%
Alameda County Medical Center 746 4 0.92% 492 5 0.66%
Telecare Corp 695 5 0.85% 2,100 1 2.81%
Abbott Diabetes Care 600 6 0.74%
City of Alameda 538 7 0.66% 502 4 0.67%
Exelixis 484 8 0.60%
Kaiser Foundation Health Plan 448 9 0.55%
U.S. Department of Transportation 368 10 0.45%
Celera Corp 490 6 0.66%
Associated Third Party Administration 250 7 0.33%
Bay Ship & Yacht Co 250 8 0.33%
College of Alameda 216 9 0.29%
Associated Third Party 200 10 0.27%
Subtotal 8,000 9.84% 6,430 8.61%
Total City Day Population 81,312 74,640
Sources: City of Alameda Finance Department
191
City of Alameda
Full-Time Equivalent City Government Employees by Function Last Ten Fiscal Years
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Function
General Government 58.00 48.55 43.00 39.35 40.62 50.47 51.97 44.70 47.75 48.75 Public Safety 232.00 224.00 227.00 226.00 229.00 229.00 233.00 233.00 239.00 239.00 Public Works (a) 58.60 57.95 60.00 68.90 70.65 62.90 62.40 73.75 74.75 74.75 Community Development 40.60 36.50 36.00 35.75 41.00 41.38 43.38 40.30 40.25 41.25 Community Services (b) 40.75 40.00 40.00 41.00 39.98 41.00 43.00 43.00 46.00 48.00 Alameda Municipal Power 91.00 90.00 93.50 93.50 96.75 96.25 97.25 98.25 95.25 95.25 Total 520.95 497.00 499.50 504.50 518.00 521.00 531.00 533.00 543.00 547.00 NOTE:
(a) Public Works includes Wastewater and Solid Waste
(b) Community Services includes Library, Recreation and Park and Golf Source: City of Alameda
0 0.2

0.4 0.6

0.8 1
1 FTE's
General Government Public Safety
Public Works (a) Community Development
Community Services (b) Alameda Municipal Power
#REF! #REF!
0 100
200
300
400
500
600
FTE's
General Government Public Safety Public Works (a)
Community Development Community Services (b) Alameda Municipal Power 192
City of Alameda, California
People and Places in the City

City of Alameda
Operating Indicators by Function/Program
Last Ten Fiscal Years
Fiscal Years
2012 2013 2014 2015
General Information
Area in square miles 22.7 22.7 22.7 22.7
Number of registered voters 42,547 44,444 44,271 44,006 Number of Hospitals 11 11
Education:

Student enrollment 8,704 10,836 8,975 9,552
Elementary schools 10 11 10 10
Junior high schools 33 22
High schools 44 43
Continuation schools 11 11
Independent study 11 11
Teachers (full & part time) 628 381 613 549
Function/Program
Fire:

Fire calls for service 6,100 6,523 6,314 6,439
Primary fire inspections conducted 1,991 1,414 1,311 1,444 Police:

Police calls for Service 65,963 70,360 75,920 69,347
Law violations:

Part I and Part II crimes 5,141 4,582 4,957 4,383
Physical arrests (adult and juvenile) 3,103 2,396 2,583 2,332 Traffic violations 12,000 28,793 10,754 8,507
Sewer
Storm drain inlets 2,300 2,300 2,951 2,951
Sewer service connections 20,590 20,590 19,432 19,454
Solid Waste
Refuse Landfill (tons per year) 33,280.00 31,181.00 26,298.98 26,139.00 Recyclables Processed (tons per year) 17,777.00 18,240.00 10,682.52 22,859.00 194
2016 2017 2018 2019 2020 2021

22.7 22.7 22.7 22.7 22.7 22.7
46,055 48,074 47,367 49,036 52,339 50,162
1 111 1 1
9,455 9,481 9,502 9,380 9,504 9,952
10 10 9 9 9 9
2 244 4 4
3 444 4 4
1 111 1 1
1 111 1 1
626 713 610 686 548 531
6,860 7,410 7,378 7,027 7,274 6,990
1,617 1,058 1,814 1,685 1,071 903
74,517 67,832 68,074 74,369 67,141 51,259
4,494 4,638 5,133 4,816 4,814 4,487
2,127 2,024 1,674 1,370 1,249 776
8,334 9,058 7,807 6,248 4,486 569
2,951 2,951 2,951 4,914 4,914 4,994
19,454 19,454 19,454 19,926 19,965 21,164
28,742.07 28,420.00 27,170.35 27,240.21 25,858.95 25,648.18 17,016.32 24,303.00 24,736.97 25,309.57 24,754.42 25,886.59 195
City of Alameda
Operating Indicators by Function/Program
Last Ten Fiscal Years
(Continued)
Fiscal Years
2012 2013 2014 2015
Planning & Building:

Number of Building Permits issued 4,575 4,314 4,286 4,038 Recreation and Parks (b):

Youth & Teens:

Number of youth programs (c) 151 239 251 278
Number of youth attendees 153,056 146,191 34,121 32,259 Seniors:

Number of senior programs 114 125 144 164
Number of senior attendees 153,056 145,795 144,607 148,520 Number of meals served 9,672 7,053 6,860 6,620
Library:

Volumes in Collection (thousands) 216 211 211 214
Total Volumes Borrowed (thousands) 630 550 510 476
Finance:

Number of Business Licenses issued 8,638 8,700 5,563 5,553 Alameda Municipal Power:

Number of electric customers 34,338 34,405 34,482 34,525 Number of kilowatt hours sold 373,787,288 363,444,132 353,913,305 342,202,785 Reliability rate 99.99 99.99 - (a) - (a)
Source: City of Alameda
NOTES: (a) AMP no longer compiled this data as of FY 2013 (b) Programs and participants lower due to pandemic. Senior Center was closed and adult/youth drop-in programs cancelled.
(c) Starting in 2021, the department is more accurately accounting for programs. For example, summer camp is not one program, rather each program site and each summer camp week is counted as distinct. 196
2016 2017 2018 2019 2020 2021
4,018 3,677 3,832 3,722 3,401 3,734
277 268 299 625 625 868
29,920 22,603 23,750 41,108 41,108 14,168
177 216 233 272 272 114
137,143 136,092 131,213 113,838 113,838 21,156
3,021 5,340 5,963 5,472 5,472 7,575
215 219 219 139 221 219
456 392 424 403 362 234
5,169 6,068 6,948 7,168 8,846 6,279
34,494 34,648 34,790 35,396 36,067 36,201
348,819,863 343,765,738 335,025,903 332,129,079 341,782,742 333,933,030
- (a) - (a) - (a) - (a) - (a) - (a)
197
City of Alameda
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
Fiscal Years
2012 2013 2014 2015
Function/Program
Fire:

Fire stations 3444
Police:

Police stations 1111
Public works:

Miles of streets 141 145 140 140
Miles of bike lanes 15 15 13 15
Street and parking lot fixtures
Traffic Signals 78 82 87 87
Wastewater
Miles of sanitary sewers 165 165 150 150
Miles of storm sewers 41 41 70 70
Recreation and Parks:

City parks 32 33 33 32
City parks acreage 156 155 155 152
Playgrounds 13 7 7 12
City trails/Bike paths (a) 13 13 13 13
Community centers 13 13 13 13
Senior centers 1111
Swimming pools (b) 5552
Tennis/pickleball courts (c) 19 19 19 16
Baseball/softball grass fields 18 18 18 18
Multipurpose grass fields (d) 3333
Synthetic Turf Multi-Purpose Field
Synthetic Turf Challenger Baseball Field
Golf Course (e)
Library:

City Libraries 3333
Alameda Municipal Power:

Miles of lines 267 267 269 263
Street lights 5,593 5,315 5,372 5,441
Source: City of Alameda
NOTE: (a) Every park has asphalt trails throughout. There are few distinct and separated trails/paths in parks. (b) Owned by the City but operated and maintained by Alameda Swimming Pool Association. (c) Includes 4 pickleball courts that are not new, but were not included prior to 2021. (d) 7 multipurpose (soccer, football, lacrosse, etc.) fields in City Parks, plus 5 owned by the City at Alameda Point, but operated and maintained by Alameda Soccer Club. (e) 45-hole golf complex owned by City but operated and maintained by Greenway Golf.

Includes separate concession agreement for onsite restaurant with Jim's on the Course Not a new facility, but included starting in 2021 to more accurately account for park facilities. (f) Street lights were transferred to Public Works per voter approval on November 2016 ballot 198
2016 2017 2018 2019 2020 2021
4444 4 4
1111 1 1
138 120 125 125 125 125
15 26 28 49 31 50
6,342 6,609 6,609 6,800
87 86 87 86 86 89
143 143 142 142 142 142
70 126 126 126 126 126
32 32 32 35 35 35
152 152 152 192 192 204
12 12 12 13 13 15
13 13 13 14 14 N/A
13 13 13 13 13 15
1111 1 1
2222 2 2
16 16 16 16 16 20
18 18 18 18 18 18
3333 3 1 1
11 1
11 1
1 3333 3 3
263 264 273 273 280 282
5,470 5,470 (f) (f) (f) (f)
199
City of Alameda, California
People and Places in the City

City of Alameda, California
People and Places in the City

Alameda City CouncilJuly 12, 2022

Alameda City Council
July 12, 2022