Agenda packet — Beaumont City Council, January 18, 2022 (part 1 of 3)

BEAUMONT
-CALF F O R N 1 A

CITY COUNCIL CLOSED & REGULAR SESSION
550 E. Sixth Street, Beaumont, CA
Tuesday, January 18, 2022
Closed Session: 5:00 PM 1 Regular Meeting: 6:00 PM
Materials related to an item on this agenda submitted to the City Council after distribution of the agenda packets are available for public inspection in the City Clerk's office at 550 E. 6th Street during normal business hours.

AGENDA

MEETING PARTICIPATION NOTICE
This meeting will be conducted utilizing teleconference communications and will be recorded for live streaming as well as open to public attendance subject to social distancing and applicable health orders. All City of Beaumont public meetings will be available via live streaming and made available on the City's official YouTube webpage. Please use the following link during the meeting for live stream access.
beaumontca.gov/livestream
Public comments will be accepted using the following options. 1 Written comments will be accepted via email and will be read aloud during the corresponding item of the meeting. Public comments shall not exceed three (3) minutes unless otherwise authorized by City Council. Comments can be submitted anytime prior to the meeting as well as during the meeting up until the end of the corresponding item. Please submit your comments to: nicolewcbeaumontca.gov

2. Phone-in comments will be accepted by joining a conference line prior to the corresponding item of the meeting. Public comments shall not exceed three (3) minutes unless otherwise authorized by City Council. Please use the following phone number to join the call (951) 922 - 4845.

3. In person comments subject to the adherence of the applicable health orders and social distancing requirements.

In compliance with the American Disabilities Act, if you require special assistance to participate in this meeting, please contact the City Clerk's office using the above email or call (951) 572 - 3196.

Notification 48 hours prior to a meeting will ensure the best reasonable accommodation arrangements.
1 CLOSED SESSION - 5:00 PM
A Closed Session of the City Council / Beaumont Financing Authority / Beaumont Utility Authority / Beaumont Successor Agency (formerly RDA)/Beaumont Parking Authority / Beaumont Public Improvement Authority may be held in accordance with state law which may include, but is not limited to, the following types of items: personnel matters, labor negotiations, security matters, providing instructions to real property negotiators and conference with legal counsel regarding pending litigation. Any public comment on Closed Session items will be taken prior to the Closed Session. Any required announcements or discussion of Closed Session items or actions following the Closed Session with be made in the City Council Chambers.

CALL TO ORDER
Mayor White, Mayor Pro Tem Martinez, Council Member Fenn, Council Member Santos, Council Member Lara
Public Comments Regarding Closed Session

1. Conference with Legal Counsel — Anticipated Litigation: Significant Exposure to Litigation Pursuant to Government Code Section 54956.9(d)(2) - Claim by Weka, Inc.

2. Conference with Legal Counsel Regarding Potential Initiation of Litigation Pursuant to Government Code Section 54956.9(d)(4): One Potential Case

3. Conference with Legal Counsel - Anticipated Litigation Significant to Litigation Pursuant to Paragraph (2) or (3) of subdivision (d) of Section 54956.9 - Mozafar Behzad, Hamid Roknian and Rozita Roknian: Tract 32850.

4. Conference with Labor Negotiators Pursuant to Government Code Section 54957.6 Agency Designated Representatives: Councilmember Mike Lara and Mayor Pro Tem Julio Martinez. Unrepresented Employee: City Manager
Adjourn to Regular Session
REGULAR SESSION - 6:00 PM

CALL TO ORDER
Mayor White, Mayor Pro Tem Martinez, Council Member Fenn, Council Member Santos, Council Member Lara
Report out from Closed Session
Action on any Closed Session Items
Action of any Requests for Excused Absence
Pledge of Allegiance
Invocation
Adjustments to the Agenda
Conflict of Interest Disclosure

ANNOUNCEMENTS/ RECOGNITION / PROCLAMATIONS / CORRESPONDENCE

PUBLIC COMMENT PERIOD (ITEMS NOT ON THE AGENDA)
2 Any one person may address the City Council on any matter not on this agenda. If you wish to speak, please fill out a "Public Comment Form" provided at the back table and give it to the City Clerk. There is a three (3) minute time limit on public comments. There will be no sharing or passing of time to another person. State Law prohibits the City Council from discussing or taking actions brought up by your comments.

CONSENT CALENDAR
Items on the consent calendar are taken as one action item unless an item is pulled for further discussion here or at the end of action items. Approval of all Ordinances and Resolutions to be read by title only.

Approval of Minutes
Recommended Action:

Approve Minutes dated:

December 21, 2021, and
January 4, 2022.

Ratification of Warrants
Recommended Action:

Ratify Warrants dated:

December 22, 2021, and
December 30, 2021.

Quarterly Status of City Council Travel and Training Reimbursements Recommended Action:

Receive and file.

Approval of Corrected Gann Limit for FY2021 and FY2022
Recommended Action:

Waive the full reading and adopt by title only a "Resolution of the City Council of the City of Beaumont, approving the Appropriation Limit for the 2020-21 and 2021-22 Fiscal Years."
Accept Security Agreement and Performance and Payment Bond No. CMS0346632 for Street Improvements Associated with Tract Map No. 27971-9 and Accept Security Agreement and Performance and Payment Bond No. 30128141 for Street Improvements Associated with Tract Map No. 36307
Recommended Action:

Accept Security Agreement and Performance and Payment Bond No.

CMS0346632 for street improvements associated with Tract Map No. 27971-9, and
Accept Security Agreement and Performance and Payment Bond No. 30128141 for street improvements associated with Tract Map No. 36307.

FY2022 General Fund and Wastewater Budget to Actual through December 2021, and Second Quarter Investment Report and Certification
Recommended Action:

Receive and file the attached reports.
3 Consider Adopting a Resolution Waiving the Facility Use and Staff Fees at the Albert A.

Chatigny Sr. Community Recreation Center (CRC) for Boy Scout Troop 322 Recommended Action:

Waive the full reading and adopt by title only, "A Resolution of the City of Beaumont Authorizing the Waiver of a One -Time Facility Use Fee at the Albert A.

Chatigny Sr. Community Recreation Center (CRC) for Boy Scout Troop 322."

PUBLIC HEARINGS
Approval of all Ordinances and Resolutions to be read by title only.

ACTION ITEMS
Approval of all Ordinances and Resolutions to be read by title only.

FY2021 Annual Comprehensive Financial Report and Report of Internal Control Over Financial Reporting
Recommended Action:

Receive and file the FY2021 Annual Comprehensive Report and associated reports.

FY2022 Mid -Year Budget Amendment 3/CIP/Wastewater/General Fund and Ratification of Emergency Wastewater Vehicle Purchase
Recommended Action:

Approve the Capital Improvement Plan budget adjustments as outlined in Attachment A,
Approve the budget adjustments as outlined in Attachment B, Approve the budget adjustments as outlines in Attachment C, and Ratify the cost of emergency vehicle purchase paid to Fritts Ford in the amount of $41,943.78.

Pension Funding Policy and Investment Strategy for PARS 115 Trust Recommended Action:

Approve Example 2 of the pension funding policy with an active moderate investment strategy for the PARS 115 Trust.

Traffic Signal Update for the First Street and Highway 79 Intersection, and the Sixth Street and Beaumont Avenue Intersection
Recommended Action:

Receive and File the Traffic Signal Update for the First Street and Highway 79 Intersection, and the Sixth Street and Beaumont Avenue Intersection Project.

Capital Improvement Drainage Projects Update
Recommended Action:

Receive and file the Capital Improvement Drainage Projects Update.

13.Community Development Department Update
4 Recommended Action:

Receive and file.

Adoption of a Resolution Authorizing the City Manager to Accept the Offer of Dedication for Park Purposes and Approve a Park Dedication Agreement between the City of Beaumont and SDC Fairway Canyon, LLC, for Mickelson Park (APN 413-801-012) Recommended Action:

Waive the full reading and adopt by title only, "A Resolution of the City of Beaumont Authorizing the City Manager to Accept the Offers of Dedication for Park Purposes,"
Authorize City staff to record the certificate of acceptance of an interest in real property by the City of Beaumont, and
Authorize a Park Dedication Agreement between the City of Beaumont and SDC Fairway Canyon, LLC, for Mickelson Park (APN 413-801-012) and authorize the City Manager to execute the agreement on behalf of the City of Beaumont.

15. Homeless Outreach Approach for Beaumont
Recommended Action:

Receive and file.

Request City Council to Approve the Memorandum of Understanding between the City of Beaumont and Managers/Professional/Technical as Individuals Recommended Action:

Approve the Memorandum of Understanding between the City of Beaumont and Managers/Professional/Technical as Individuals and authorize the City Manager to execute the agreement.

Approve the Draft Request for Proposal for Landscape Architecture and Engineering Design Services and Construction Documents for Stewart Park Improvement Project Recommended Action:

Approve the draft Request for Proposals for Landscape Architecture and Engineering Design Services and Construction Documents for Stewart Park Improvement Project and direct City staff to publish the document on PublicPurchase.com.

18.Rangel Park Update
Recommended Action:

Receive and provide direction to City staff.

19. Discussion and Direction to City Staff Regarding Updates to the City of Beaumont Development Impact Fee (DIF) Program
Recommended Action:

Direct City staff to begin preparing requests for proposals (RFPs) for the impact fee nexus studies;
Direct City staff to include updates to the DIF nexus studies and the DIF program in the FY2022-2023 budget; and
5 Add an item on the next City Council agenda to discuss updates to the City's DIF program

20. Review of Local Emergency Declaration Established via the Adoption of City of Beaumont Resolution No. 2020-07 Adopted on March 17, 2020 Recommended Action:

City staff recommends that there be no change regarding the local emergency declaration. This is due to the fact that there have been no significant changes in the original conditions, a State emergency declaration remains in effect and local emergency declaration helps to ensure that Beaumont remains eligible for federal and state emergency aid.
zi.Approval of City Attorney Invoices for the Month of December 2021 Recommended Action:

Approve invoices in the amount of $135,795.98.

LEGISLATIVE UPDATES AND DISCUSSION

ECONOMIC DEVELOPMENT UPDATE
Economic Development Committee Report Out and City Council Direction

CITY TREASURER REPORT
Finance and Audit Committee Report Out and City Council Direction

CITY CLERK REPORT

CITY ATTORNEY REPORT

CITY MANAGER REPORT

FUTURE AGENDA ITEMS

COUNCIL REPORTS
- Lara
- Santos
- Fenn
- Martinez
- White

ADJOURNMENT
6 The next regular meeting of the Beaumont City Council, Beaumont Financing Authority, the Beaumont Successor Agency (formerly RDA), the Beaumont Utility Authority, the Beaumont Parking Authority and the Beaumont Public Improvement Agency is scheduled for Tuesday, February 1, 2022, at 5:00 p.m., unless otherwise posted.

Item 1.
/V:::: *

BEAUMONT
—CALIFORNIA

CITY COUNCIL CLOSED & REGULAR SESSION
550 E. Sixth Street, Beaumont, CA
Tuesday, December 21, 2021
Closed Session: 4:30 PM 1 Regular Meeting: 6:00 PM
Materials related to an item on this agenda submitted to the City Council after distribution of the agenda packets are available for public inspection in the City Clerk's office at 550 E. 6th Street during normal business hours

MINUTES
CLOSED SESSION - 4:30 PM
A Closed Session of the City Council / Beaumont Financing Authority / Beaumont Utility Authority / Beaumont Successor Agency (formerly RDA)/Beaumont Parking Authority / Beaumont Public Improvement Authority may be held in accordance with state law which may include, but is not limited to, the following types of items: personnel matters, labor negotiations, security matters, providing instructions to real property negotiators and conference with legal counsel regarding pending litigation. Any public comment on Closed Session items will be taken prior to the Closed Session. Any required announcements or discussion of Closed Session items or actions following the Closed Session with be made in the City Council Chambers.

CALL TO ORDER at 4:32 p.m.

Present: Mayor White, Mayor Pro Tem Martinez, Council Member Fenn, Council Member Santos, Council Member Lara
Public Comments Regarding Closed Session
No comments

2. Annual Public Employee Performance Evaluation Pursuant to Government Code Section 54957 Title: City Manager
No reportable action.
8 Item 1.

3. Conference with Legal Counsel Regarding Potential Initiation of Litigation Pursuant to Government Code Section 54956.9(d)(4): One Potential Case No reportable action.

4. Conference with Legal Counsel Regarding Existing Litigation Pursuant to Government Code Section 54956.9(d)(1): Southwest Regional Council of Carpenters v. City of Beaumont, Riv.

Co. Sup. Case No. CVR12000635
No reportable action.

Adjourn to Regular Session
REGULAR SESSION - 6:00 PM
CALL TO ORDER at 6:28 p.m.

Present: Mayor White, Mayor Pro Tem Martinez, Council Member Fenn, Council Member Santos, Council Member Lara
Report out from Closed Session: see above
Action on any Closed Session Items: None
Action of any Requests for Excused Absence: None
Pledge of Allegiance
Adjustments to the Agenda: None
Conflict of Interest Disclosure: None

ANNOUNCEMENTS/ RECOGNITION / PROCLAMATIONS / CORRESPONDENCE

PUBLIC COMMENT PERIOD (ITEMS NOT ON THE AGENDA)
Any one person may address the City Council on any matter not on this agenda. If you wish to speak, please fill out a "Public Comment Form" provided at the back table and give it to the City Clerk. There is a three (3) minute time limit on public comments. There will be no sharing or passing of time to another person. State Law prohibits the City Council from discussing or taking actions brought up by your comments.

No comments.

Request to pull Item 1 by Council Member Fenn so that he may abstain from the vote due to being absent at the December 7 meeting.

1. Approval of Minutes
Motion by Mayor White
Second by Mayor Pro Tem Martinez
To approve Minutes dated: November 15, 2021, and December 7, 2021. 9 Item 1.

Ayes: Lara, Santos, Martinez, White
Abstain: Fenn

2. Ratification of Warrants
Recommended Action:

Ratify Warrants dated:

November 24, 2021, and
December 2, 2021.

3. Amendment to the Western Riverside Council of Governments' Joint Powers Agreement Recommended Action:

Approve the Amendment to the Western Riverside Council of Governments' Joint Powers Agreement.

4. Annual and Fifth Year Compliance Report of AB 1600 Development Impact Fees (DIF) Recommended Action:

Receive and file the AB 1600 report on development impact fee activity that occurred during the period July 1, 2020 through June 30, 2021.

Motion by Council Member Lara
Second by Council Member Santos
To approve Consent Calendar Items 2 through 4.

Approved by a unanimous vote.

PUBLIC HEARINGS
Approval of all Ordinances and Resolutions to be read by title only.

5. Public Hearing to Adopt Resolution to Amend the Prior Year Capital Improvement Plan 2016- 2021
Public Hearing opened at 6:35 p.m.

No comments
Public Hearing closed at 6:35 p.m.

Motion by Council Member Lara
Second by Mayor Pro Tem Martinez
To waive the full reading and adopt by title only, "A Resolution of the City Council of the City of Beaumont Amending the Prior Year Capital Improvement Plan for Fiscal Years 2016 — 2021."
Approved by a unanimous vote.

Call to Order of the Successor Agency at 6:36 p.m.
10 Item 1.

SUCCESSOR AGENCY ACTION ITEMS
Approval of all Ordinances and Resolutions to be read by title only.

6. Resolution to Transfer Ownership of a 52 Acre Property Owned by the Dissolved Beaumont Redevelopment Agency to the City of Beaumont and Authorize the Retention of the Property by the City of Beaumont
Motion by Chairman White
Second by Member Lara
To waive the full reading and adopt by title only, "A Resolution of the City of Beaumont Successor Agency to Approve the Transfer of Ownership of One Property (APN 417-020-034) Owned by the Dissolved Redevelopment Agency to the City of Beaumont and Authorize the Retention of the Property by the City of Beaumont," and Adjourn the meeting of the Beaumont Successor Agency and reconvene the City Council meeting.

Approved by a unanimous vote.

ACTION ITEMS
Approval of all Ordinances and Resolutions to be read by title only.

7. Resolution Authorizing the Acceptance of Property (APN 417-020-034) from the Former Redevelopment Agency Approval of Agreement Among Taxing Entities and Addendum Number One
Motion by Council Member Lara
Second by Council Member Santos
To approve the agreement among taxing entities and addendum number one, and Waive the full reading and adopt by title only, "A Resolution of the City of Beaumont Authorizing Acceptance of Property (APN 417-020-034) from the Dissolved Redevelopment Agency."
Approved by a unanimous vote.

8. City Council Approval of the Third Amendment to the Webb Engineering Contract for the Wastewater Treatment Plant and Brine Line Project in an Amount of $530,809 for the Design and Construction Services for a MBR Replacement System for a Total Contract Not to Exceed $4,250,699
Motion by Mayor Pro Tem Martinez
Second by Mayor White
To approve the Third Amendment to the Webb Engineering Contract for the Wastewater Treatment Plant and Brine Line Project in an amount of $530,809 for the design and construction services for a MBR replacement system for a total contract not to exceed $4,250,699.

Approved by a unanimous vote.
11 Item 1.

9. Resolution Authorizing the Execution of Change Order No. 23 with W.M. Lyles, Co. to Install a New Membrane System in the Wastewater Treatment Plant for the Wastewater Treatment Plant Upgrade/Expansion in the Amount Not to Exceed $5,143,400 for the Replacement MBR System.

Motion by Council Member Lara
Second by Mayor White
To approve a resolution authorizing the execution of Change Order No. 23 with W.M. Lyles, Co. to install a new membrane system in the Wastewater Treatment Plan for the Wastewater Treatment Plant Upgrade/Expansion in the amount not to exceed $5,143,400 for the replacement MBR system.

Approved by a unanimous vote.

10.Consideration of PLAN2021-0665, Related to the Conceptual Park Design of Planning Area 21B of the Fairway Canyon Development (Assessor Parcel Number: Portion of 413-790-010 and -057) Located in the Oak Valley and SCPGA Golf Course Specific Plan, North of San Timoteo Canyon Road, West of Tukwet Canyon Parkway
Direction to consider adding a half basketball court to the park.

11. FY20/21 Street Projects Summary and Construction Update Consensus to receive and file the FY20/21 Street Projects Summary and Construction Update.

12. Microsoft Office 365 License Renewal
Motion by Mayor White
Second by Council Member Fenn
To authorize the City Manager to execute the three-year renewal licensing agreement of Microsoft Office 365 with CDW-G.

Approved by a unanimous vote.

13. Discussion and Direction to City Staff to Draft a Code of Ethics and Conduct for City Council, Boards, Committees, and Commissions
Appointment of Council Member Lara and Mayor Pro Tem Martinez to an Ad Hoc subcommittee to establish a Code of Ethics and conduct policy. 12 Item 1.

14. Mayoral Appointments to Various Boards, Commissions and Committees Appointments were made as follows:

Riverside Transit Agency
A collaboration of cities within the County of Riverside to discuss transportation within the County.

Representative - Santos
Alternate Representative - Fenn
Meets the fourth Thursday of the month @ 2:00pm
1825 Third Street, Board Room, Riverside
Transportation Now
Regional meeting of Transit providers and community advocates to discuss regional transit issues Representative - Fenn
Alternate Representative - Santos
Meets the first Thursday of the month @ 12 noon
550 E 6t" St, City Hall, Beaumont
Riverside County Transportation Commission*
Oversees transportation capital projects in the Western Riverside County.

Representative - White
Alternate Representative - Fenn
Meets the Second Wednesday of the month at 9:30am
4080 Lemon Street, First Floor
Western Riverside County Regional Conservation Authority A joint powers authority for the purpose of acquiring, administering, operating and maintaining land and facilities for ecosystem conservation
Board Member - Martinez
Alternate Board Member - White
Meets the first Monday of the month at 12:30pm
4080 Lemon Street, First Floor
Beaumont Cherry Valley Parks and Recreation District
Operates parks and recreation centers in the Beaumont/Cherry Valley Area Liaison - White
Alternate Liaison - Lara
Meets the second Wednesday of the month at 5:00pm
390 W. Oak Valley Pkwy, Beaumont
13 Item 1.

Beaumont Cherry Valley Water District
Water distribution for the Beaumont, Cherry Valley and a portion of Calimesa Liaison - Martinez
Alternate Liaison - White
Meets the second Wednesday of the month at 7:00pm
560 Magnolia Ave, Beaumont
Beaumont Unified School District
Meeting for the Board of Trustees to discuss topics within the district.

Liaison - Lara
Alternate Liaison - White
Meets the second and fourth Tuesday of the month at 6:30pm 350 W. Brookside Ave, Beaumont
Legislative Liaison
Representation of Beaumont at Sacramento and Washington DC events.

White
Collaborative Agency
A joint meeting between agencies within the City to collaborate on events and issues, initially started as an emergency operations agency.

Representative - Martinez
Alternate Representative — Fenn
Meets every two months
City Manager and Mayor's Breakfast
A joint meeting between the Mayors and City Mangers of Banning, Beaumont, Morongo, Calimesa and Riverside County Supervisor.

Mayor White Representative
City Manager, Todd Parton — Representative
Meets the first Thursday of the month at 7:00am
Eastern Riverside County Interoperable Communications Authority (ERICA) Joint Powers authority of cities regarding radio communications Representative — Lloyd White
Kari Mendoza — Board Member Meets on the even months at 2:00 68700 Avenida Lalo Guerrero, City Hall, Cathedral City
14 Item 1.

Committees and Boards
Southern California Association of Governments*
Joint Powers Authority under State Law to address regional issues Representative - Santos
Alternate - Martinez
Meets on the first Thursday of the month
818 West 7th Street, 12th Floor, Los Angeles
League of California Cities
Association of California City Officials to combine resources and information to influence policy Voting Delegate - Martinez
Alternate - Fenn
Rotating locations
Memorial Committee
Committee to oversee the City memorials (i.e Police and Fire Memorial, Veteran's Memorial) Committee Member - Martinez
Alternate Committee Member - Lara
Meets on an as -needed basis
550 E 6th St, City Hall, Beaumont
Finance and Audit Committee
Promotes enhanced fiscal responsibility, accountability, integrity and transparency.

Committee Member/Council Member - Fenn
Committee Member/Council Member - Santos
Meets the first Monday of the month at 6:00pm
550 E 6th St, City Hall, Beaumont
Economic Development Committee
Evaluate and provide advice and recommendations to the City Council concerning Economic Development matters.

Committee Member/Council Member - White
Committee Member/Council Member - Lara
Meets the second Wednesday of the month at 4:00pm
550 E 6th St, City Hall, Beaumont
15 Item 1.

San Gorgonio Integrated Regional Water Management Region Stakeholder Advisory Committee Collaborative committee to manage water resources on a regional scale Committee Member/Council Member - TBD
Committee Member/Council Member - TBD
Meets the third Wednesday of the month at 5:30pm
125 E Ramsey St, Banning Police Department, Banning
Western Riverside Council of Governments*
Comprised of cities in Riverside County to discuss regional issues Committee Member/Council Member - Lara
Alternate Member/Council Member - Fenn
Meets the first Monday of the month at 2:00pm
4080 Lemon St, County of Riverside Administrative Building, Riverside Water Re -Use Ad -Hoc 2x2 Committee
Collaborative meeting with the Beaumont Cherry Valley Water District to discuss logistics of re -use water from the Treatment Plant
Committee Member/Council Member - Martinez
Committee Member/Council Member - White
BCVWD Board Member
BCVWD Board Member
Meets on an as needed basis
550 E 6th ST., City Hall, Beaumont
Passcom
Board Member - Fenn
Alternate Board Member - White
Meets on the 2nd Tuesday of the month at 8:30am
Four Seasons Meeting Room at Main Clubhouse
Beaumont Basin Watermaster Board
Council Member - Martinez
City Manager Todd Parton
Meets on the 15t Wednesday of even months at 10:00 am
560 Magnolia Ave. Beaumont
16 Item 1.

Memorial Ad -Hoc Committee
Council Member - Martinez
Alternate - Lara
To be determined

15.Approval of City Attorney Invoices for the Month of November 2021 Motion by Council Member Fenn
Second by Council Member Lara
To approve invoices in the amount of $105,006.07.

LEGISLATIVE UPDATES AND DISCUSSION

ECONOMIC DEVELOPMENT UPDATE
Economic Development Committee Meeting scheduled for January 12, 2022.

CITY TREASURER REPORT ,
Finance and Audit Committee Meeting scheduled for January 10, 2022

CITY CLERK REPORT
No report.

CITY ATTORNEY REPORT

16.Current Pending Litigation

CITY MANAGER REPORT

17. November 2021 Department Project Schedule Updates

FUTURE AGENDA ITEMS
- Update of the Downtown Specific Plan and implementation - Review of properties owned by the City after EDC and their findings

COUNCIL REPORTS
Lara - Attended Shop with a Cop and thanked the officers that volunteered to attend.

Santos — Attended an RTA retirement, and thanked Mike Lara for his mayorship.

Fenn — No report
Martinez — Gave a report out from the Finance and Audit Committee, the ACA 7 committee, the Cal Cities Environment Committee Division, and the RCA Meeting. Thanked Mayor Lara.

White — Attended Shop with a Cop and the Christmas Light parade 17 Item 1.

ADJOURNMENT at 8:32 p.m.

The next regular meeting of the Beaumont City Council, Beaumont Financing Authority, the Beaumont Successor Agency (formerly RDA), the Beaumont Utility Authority, the Beaumont Parking Authority and the Beaumont Public Improvement Agency is scheduled for Tuesday, January 4, 2022, at 5:00 p.m., unless otherwise posted.
18 Item 1.
/V:::: *

BEAUMONT
—CALIFORNIA

CITY COUNCIL CLOSED & REGULAR SESSION
550 E. Sixth Street, Beaumont, CA
Tuesday, January 04, 2022
Closed Session: 5:00 PM 1 Regular Meeting: 6:00 PM
Materials related to an item on this agenda submitted to the City Council after distribution of the agenda packets are available for public inspection in the City Clerk's office at 550 E. 6th Street during normal business hours

MINUTES
CLOSED SESSION - 5:00 PM
A Closed Session of the City Council / Beaumont Financing Authority / Beaumont Utility Authority / Beaumont Successor Agency (formerly RDA)/Beaumont Parking Authority / Beaumont Public Improvement Authority may be held in accordance with state law which may include, but is not limited to, the following types of items: personnel matters, labor negotiations, security matters, providing instructions to real property negotiators and conference with legal counsel regarding pending litigation. Any public comment on Closed Session items will be taken prior to the Closed Session. Any required announcements or discussion of Closed Session items or actions following the Closed Session with be made in the City Council Chambers.

CALL TO ORDER at 5:00 p.m.

Present: Mayor White, Mayor Pro Tem Martinez, Council Member Fenn, Council Member Santos, Council Member Lara
Public Comments Regarding Closed Session
No comments

1. Conference with Labor Negotiators - Pursuant to Government Code Section 54957.6 City Designated Representatives City Manager Todd Parton and Administrative Services Director Kari Mendoza. Employee Organizations: Beaumont Police Officers Association, SEIU and Managers Professional Technical Unit
Motion by Council Member Lara
Second by Mayor White
To approve a Memorandum of Understanding between the City of Beaumont and the Beaumont Police Officers Association.

Approved by a unanimous vote.
19 Item 1.

2. Conference with Legal Counsel Regarding Potential Initiation of Litigation Pursuant to Government Code Section 54956.9(d)(4): One Potential Case No reportable action.

3. Conference with Legal Counsel — Anticipated Litigation: Significant Exposure to Litigation Pursuant to Government Code Section 54956.9(d)(2) - Claim by Weka, Inc.

No reportable action.

4. Annual Public Employee Performance Evaluation Pursuant to Government Code Section 54957 Title: City Manager
Not concluded and will resume after the Regular Session.

Adjourn to Regular Session
REGULAR SESSION - 6:00 PM
CALL TO ORDER at 6:22 p.m.

Present: Mayor White, Mayor Pro Tem Martinez, Council Member Fenn, Council Member Santos, Council Member Lara
Report out from Closed Session: see above.

Action on any Closed Session Items
Action of any Requests for Excused Absence: None
Pledge of Allegiance
Adjustments to the Agenda: None
Conflict of Interest Disclosure: None

ANNOUNCEMENTS/ RECOGNITION / PROCLAMATIONS / CORRESPONDENCE

PUBLIC COMMENT PERIOD (ITEMS NOT ON THE AGENDA)
No comments.
20 Item 1.

1. Ratification of Warrants
Recommended Action:

Ratify Warrants dated:

December 13, 2021, and
December 20, 2021.

2. FY2022 General Fund and Wastewater Budget to Actual through November, 2021 Recommended Action:

Receive and file the attached reports.

3. Re -Ratification of Local Emergency and Re -Authorizing the Use of Teleconferencing to Conduct Public Meetings
Recommended Action:

Waive the full reading and adopt by title only, "A Resolution of the City Council of the City of Beaumont Proclaiming a Local Emergency Persists, Re -Ratifying the Proclamation of a State of Emergency by Executive Order N-09-21, and Re -Authorizing Remote Teleconference Meetings of the Legislative Bodies of the City of Beaumont for the Period of January 6, 2022, through February 5, 2022, Pursuant to Provisions of the Ralph M.

Brown Act."

4. Consider Adopting a Resolution Waiving the Monthly Facility Use at the Albert A. Chatigny Sr.

Community Recreation Center (CRC) for Beaumont Community Youth Basketball (BCYB) Recommended Action:

Waive the full reading and approve by title only, "A Resolution of the City of Beaumont authorizing the waiver of monthly facility use fees at the Albert A. Chatigny Sr. Community Recreation Center (CRC) for Beaumont Community Youth Basketball (BCYB)."
Motion by Council Member Lara
Second by Council Member Santos
To approve the Consent Calendar.

Approved by a unanimous vote.
21 Item 1.

ACTION ITEMS
Approval of all Ordinances and Resolutions to be read by title only.

5. Notice of Upcoming Vacancy on the Beaumont Planning Commission Direction to staff to notice the upcoming vacancy of one seat with a partial term on the Beaumont Planning Commission.

6. City of Beaumont Grant Policies and Procedures
Motion by Council Member Lara
Second by Mayor White
To approve the proposed City of Beaumont Grant Policies and Procedures.

Approved by a unanimous vote.

7. Discussion of Beaumont Police Department Response to Calls for Illegal Fireworks and Provide Direction to City Staff
Direction to staff to increase the fines associated with firework violations and establish a campaign of the penalties especially prior to July and New Years.

8. Direct the Beaumont Economic Development Committee to Assist Downtown Business and Landowners to Promote Business Growth and Development in the Central Business District Consensus to direct the Beaumont Economic Development Committee to assist downtown business and landowners to promote business growth and development in the central business district by providing ideas and goals to the City Council to approve.

9. Discussion and Direction to City Staff on Comments to the Draft Initial Study/Environmental Assessment Report Prepared for the IH-10/Cherry Valley Interchange Project Authorize Mayor Lloyd White to execute a letter conveying City Council comments of support to Caltrans no later than January 24, 2022.

LEGISLATIVE UPDATES AND DISCUSSION

ECONOMIC DEVELOPMENT UPDATE
Economic Development Committee will meet on January 12, 2022.

CITY TREASURER REPORT
Finance and Audit Committee Report will meet January 10, 2022. 22 Item 1.

CITY CLERK REPORT
No report.

CITY ATTORNEY REPORT
No report.

CITY MANAGER REPORT

FUTURE AGENDA ITEMS
- Stewart Park RFP
- Update on Rangel Park

COUNCIL REPORTS
Lara - Thanked Commissioner Paul St. Martin for his tenure on the Planning Commission.

Santos - No report.

Fenn - No report.

Martinez - No report.

White — No report.

Adjourn to Closed Session
Annual Public Employee Performance Evaluation Pursuant to Government Code Section 54957 Title:

City Manager
No reportable action.

ADJOURNMENT at 8:57 p.m.

The next regular meeting of the Beaumont City Council, Beaumont Financing Authority, the Beaumont Successor Agency (formerly RDA), the Beaumont Utility Authority, the Beaumont Parking Authority and the Beaumont Public Improvement Agency is scheduled for Tuesday, January 18, 2022, at 5:00 p.m., unless otherwise posted.
23 Item 2.

AGENDA ITEM NO.

BEAUMONT
-C A L I F O R N I A -
Printed Checks
ACH
InvoicePay
Bank Drafts

WARRANTS TO BE RATIFIED
Wednesday, December 22, 2021
110891-110892
546
APA000142-APA000183
A/P Total
Kaiser Foundation
$ 117,344.10 FY 21/22
$ 914,004.51
$ 310,459.15
$ 1,341,807.76
$ 178.00 HSA Paydate 12/17/21

I DO HEREBY CERTIFY THIS WARRANT LIST HAS BEEN COMPILED AND PREPARED TO MEET THE DAILY OPERATIONS FOR THE FISCAL YEAR JULY 1, 2021 - JUNE 30, 2022 •
SIGNATURE:

TITLE: CITY T
SIGNAT
TITLE: FIN
24 Item 2.

City of Beaumont, CA

BEAUMONT
t ,•
. . c »
Check Report
By Check Number
Date Range: 12/21/2021 - 12/22/2021
Vendor Number Vendor Name Payment Date Payment Type Discount Amount Payment Amount Number Bank Code: APBNK-AP Bank
2163 COUNTY OF RIVERSIDE FIRE DEPARTMENT 12/22/2021 EFT 0.00 914,004.51 546 Payable # Payable Type Post Date Payable Description Discount Amount Payable Amount Account Number Account Name Item Description Distribution Amount 234007 Invoice 12/22/2021 FIRE PROTECTION SERVICES 0.00 914,004.51 100-2100-7068-0000 CONTRACTUAL SERVICES FIRE PROTECTION SERVICES 914,004.51 3834 SANTANDER BANK, N.A. 12/22/2021 Regular 0.00 21,087.81 110891 Payable f Payable Type Post Date Payable Description Discount Amount Payable Amount Account Number Account Name Item Description Distribution Amount 2718994 Invoice 12/22/2021 Lease Payment on Police Utility Vehicles 0.00 21,087.81 100-2050-8060-0000 VEHICLES Lease Payment on Police Utility 21,087.81 2311 SOUTHERN CALIFORNIA EDISON
12/22/2021 Regular

0.00 96,256.29 110892
25 12/22/2021 6:46:04 PM Page 1 of 3

Item 2.

Check Report
Vendor Number
Payable #
12/23/21
Vendor Name
Payable Type
Account Number
Invoice
100-3250-7010-0000
100-3250-7010-003X
100-3250-7010-004X
100-3250-7010-0066
100-3250-7010-007B
100-3250-7010-008A
100-3250-7010-008C
100-3250-7010-011A
100-3250-7010-014X
100-3250-7010-018X
100-3250-7010-019C
100-3250-7010-06A1
100-6000-7010-6025
100-6000-7010-6031
100-6000-7010-6032
100-6000-7010-6040
100-6000-7010-6041
100-6000-7010-6045
100-6000-7010-6055
100-6050-7010-0000
100-6050-7010-008C
100-6050-7010-020X
100-6050-7010-06A1
700-4050-7010-0000
750-7000-7010-0000
750-7300-7010-0000
Payment Date Payment Type
Post Date Payable Description
Account Name
12/22/2021 ELECTRIC UTILITY

UTILITIES
UTILITIES (IA 3)
UTILITIES (IA 4)
UTILITIES (IA 6B)
UTILITIES (IA 7B)
UTILITIES (IA 8A)
UTILITIES (IA 8C)
UTILITIES (IA 11A)
UTILITIES (IA 14)
UTILITIES (IA 18)
UTILITIES (IA 19C)
UTILITIES (IA 6A1)

UTILITIES - CITY HALL

UTILITIES - CITY HALL BLD

UTILITIES - POLICE DEPT

UTILITIES - POLICE ANNEX

UTILITIES - COMMUNITY

UTILITIES - FIRE STATION

UTILITIES
UTILITIES IA 8C
UTILITIES IA 20
UTILITIES IA 6A1

UTILITIES

UTILITIES
Payment Type
Regular Checks
Manual Checks
Voided Checks
Bank Drafts
EFT's
Virtual Payments
Item Description

ELECTRIC UTILITY

ELECTRIC UTILITY
Bank Code APBNK Summary
Payable
Count
2 0
0 0
Payment
Count
2 0
0 0
1 1
0 0
Date Range: 12/21/2021 - 12/22/2021
Discount Amount Payment Amount Number
Discount Amount Payable Amount
Distribution Amount

0.00 96,256.29
10,771.45
2,614.78
158.09
2,252.53

29.83 38.92
365.90

82.40 1,508.38

93.70 2,680.23
191.35
1,947.74
1,095.61
1,095.61
2,897.63
557.51
3,055.15
447.28
298.66

20.19 18.87

74.25 61,307.55
2,345.29
307.39
Discount Payment

0.00 117,344.10

0.00 0.00

0.00 914,004.51

0.00 0.00
3 3

0.00 1,031,348.61
26 12/22/2021 6:46:04 PM Page 2 of 3

Item 2.

Check Report Date Range: 12/21/2021 - 12/22/2021
All Bank Codes Check Summary
Payable Payment
Payment Type Count Count Discount Payment
Regular Checks 2 2 0.00 117,344.10
Manual Checks 0 0 0.00 0.00
Voided Checks 0 0 0.00 0.00
Bank Drafts 0 0 0.00 0.00
EFT's 1 1 0.00 914,004.51
Virtual Payments 0 0 0.00 0.00
Fund
999
Name

POOLED CASH
3 Fund Summary
3 0.00 1,031,348.61
Period Amount
12/2021 1,031,348.61
1,031,348.61
27 12/22/2021 6:46:04 PM Page 3 of 3

Item 2.

City of Beaumont, CA

BEAUMONT
Check Register
Packet: APPKT02007 - 20211222 JM APA PAYMENT
By Check Number
Vendor Number Vendor Name Payment Date Payment Type Discount Amount Payment Amount Number Payable # Payable Type Payable Date Payable Description Discount Amount Payable Amount Bank Code: APBNK-AP Bank
3761 AKINS IT INC 12/22/2021 Virtual Pay 0.00 3,573.35 APA000142 23451 Invoice 12/10/2021 SOFTWARE 0.00 3,573.35
1036 ALBERT A. WEBB ASSOCIATES 12/22/2021 Virtual Pay 0.00 56,918.25 APA000143 214458 Invoice 11/20/2021 Engineering Services During Construction 0.00 56,918.25 1050 AMAZON CAPITAL SERVICES 12/22/2021 Virtual Pay 0.00 3,928.19 APA000144 1L4G-67YN-1KW Invoice 12/14/2021 COMPUTER SUPPLIES 0.00 33.38 1LL4-DQYR-VCM4 Invoice 12/15/2021 OFFICE SUPPLIES 0.00 269.18 1MPK-LLK1-N4N7 Invoice 12/10/2021 EQUIPMENT MAINTENANCE 0.00 2,499.80 1T6K-RRTG-C6NC Invoice 12/11/2021 COMPUTER SUPPLIES 0.00 107.60 1VD1-KC3Y-QNN Invoice 12/14/2021 EQUIPMENT MAINTENANCE 0.00 1,018.23 3302 APGN INC / APG NEUROS 12/22/2021 Virtual Pay 0.00 5,711.49 APA000145 14799 Invoice 11/30/2021 WWTP DEPT SUPPLIES 0.00 5,711.49 3967
28955
ARCHITERRA INC 12/22/2021 Virtual Pay 0.00 2,845.00 APA000146 Invoice 11/24/2021 PROFESSIONAL SERVICES 0.00 2,845.00
2618 AT&T MOBILITY 12/22/2021 Virtual Pay 0.00 885.28 APA000147 287302055450X1 Invoice
12/02/2021 PHONE UTILITY 0.00 885.28
1109 BANK OF HEMET 12/22/2021 Virtual Pay 0.00 3,726.94 APA000148 1280837350 12/1 Invoice
12/22/2021 Batwing/Lawnmower FY 22 0.00 3,726.94
1147 BEAUMONT CHERRY VALLEY WATEF 12/22/2021
Virtual Pay

0.00 158.00 APA000149
005038-177 12/2 Invoice 11/24/2021 WATER UTILTIY 0.00 158.00 3829 CALIFORNIA SOCIETY OF MUNICIPAI 12/22/2021 Virtual Pay 0.00 75.00 APA000150 200011784 Invoice 12/15/2021 EMPLOYEE TRAINING 0.00 75.00 1250 CHAMBERS GROUP, INC 12/22/2021 Virtual Pay 0.00 4,532.50 APA000151 35419
Invoice 12/13/2021 PROFESSIONAL SERVICES 0.00 4,532.50
1401 DEPARTMENT OF INDUSTRIAL RELA 12/22/2021 Virtual Pay 0.00 47,429.45 APA000152 OSIP 68955 Invoice 12/01/2021 INSURANCE 0.00 47,429.45
1402 DEPARTMENT OF JUSTICE 12/22/2021 Virtual Pay 0.00 245.00 APA000153 552822 Invoice 12/03/2021 PROFESSIONAL SERVICES 0.00 245.00 3560 DOSSIER SYSTEMS INC 12/22/2021 Virtual Pay 0.00 1,710.00 APA000154 50783 Invoice 10/31/2021 SOFTWARE 0.00 1,710.00
1445 DUDEK 12/22/2021 Virtual Pay 0.00 7,387.06 APA000155 202109617 Invoice 12/15/2021 GROUNDWATER AND SURFACE WATER M 0.00 7,387.06 1518 FLYERS ENERGY 12/22/2021 Virtual Pay 0.00 1,701.80 APA000156 21-358426 Invoice 07/22/2021 VEHICLE MAINTENANCE 0.00 1,701.80 1533 FRONTIER COMMUNICATIONS 12/22/2021
213-180-1992-06 Invoice 12/10/2021 PHONE UTILITY
951.769-5188-04 Invoice 12/10/2021 PHONE UTILITY
951-769-6032-08 Invoice 12/04/2021 PHONE UTILITY
951-769-8533-09 Invoice 12/07/2021 PHONE UTILITY
951-769-8534-04 Invoice 12/10/2021 PHONE UTILITY
951-845-9839-09 Invoice 12/10/2021 PHONE UTILITY
3874 GENERAC POWER SYSTEMS INC 12/22/2021
Virtual Pay
Virtual Pay

0.00 1,237.49 APA000157

0.00 280.98

0.00 377.29

0.00 69.36

0.00 53.27

0.00 334.83

0.00 121.76

0.00 1,065.27 APA000158
28 12/22/2021 6:25:19 PM Page 1 of 4

Item 2.

Check Register
Packet: APPKT02007-20211222 JM APA PAYMEN1
Vendor Number Vendor Name Payment Date Payment Type Discount Amount Payment Amount Number Payable # Payable Type Payable Date Payable Description Discount Amount Payable Amount 6000436 Invoice 12/02/2021 General Generator Maintenance 0.00 1,065.27 4181 HASA, INC 12/22/2021 Virtual Pay

0.00 2,710.57 APA000159
790635 Invoice 12/03/2021 CHEMICALS 0.00 2,710.57
1612 HEARD'S INVESTIGATIONS AND POL 12/22/2021 Virtual Pay 0.00 175.00 APA000160 7329 Invoice 12/11/2021 HIRING COSTS 0.00 175.00
1643 HUNTINGTON COURT REPORTERS & 12/22/2021 Virtual Pay 0.00 508.32 APA000161 34185 Invoice 12/17/2021 Huntington Transcription Servcies for FY 2 0.00 508.32 1679 INTERWEST CONSULTING GRP, INC. 12/22/2021 Virtual Pay 0.00 1,093.33 APA000162 74490 Invoice 12/13/2021 GIS SERVICES 0.00 1,093.33
1901 MANNING & KASS, ELLROD, RAMIR 12/22/2021 Virtual Pay 0.00 2,212.50 APA000163 724340 Invoice 11/09/2021 LEGAL SERVICES 0.00 2,212.50
1971 MOTOROLA 12/22/2021 Virtual Pay 0.00 11,956.11 APA000164 1162342956 Invoice 11/13/2021 Motorola Radio Equipment Lease/Purcha 0.00 11,956.11 1317 OCCUPATIONAL HEALTH CENTERS 12/22/2021 Virtual Pay 0.00 1,187.72 APA000165 73536271 Invoice 11/24/2021 HIRING COSTS 0.00 261.00
73604327 Invoice 12/01/2021 EMPLOYEE MEDICAL SERVICES 0.00 45.00 73686137 Invoice 12/08/2021 HIRING COSTS 0.00 400.00
123 0943754800 Invoice 12/02/2021 EMPLOYEE MEDICAL SERVICES 0.00 192.95 123 0943754800 Invoice 11/18/2021 EMPLOYEE MEDICAL SERVICES 0.00 288.77 4473 PRECISION SURVEY SUPPLY, LLC 12/22/2021 Virtual Pay 0.00 29,920.02 APA000166 19450
Invoice 12/20/2021 Purchase of Crime Scene Scanner 0.00 29,920.02 2078 PRO RISE GARAGE DOOR CO 12/22/2021 Virtual Pay 0.00 340.00 APA000167 00023285 Invoice 12/13/2021 BUILDING MAINTENANCE 0.00 340.00 3652 PRUDENTIAL OVERALL SUPPLY 12/22/2021 Virtual Pay 0.00 178.86 APA000168 23250802 Invoice 12/08/2021 WW - Prudential Uniforms 0.00 89.43 23253525 Invoice 12/15/2021 WW - Prudential Uniforms 0.00 89.43 2098 QUILLCORPORATON 12/22/2021
21107839 Invoice 11/18/2021 OFFICE SUPPLIES
21107930 Invoice 11/18/2021 OFFICE SUPPLIES
21109400 Invoice 11/18/2021 OFFICE SUPPLIES
21109800 Invoice 11/18/2021 OFFICE SUPPLIES
21198396 Invoice 11/23/2021 OFFICE SUPPLIES
21227221 Invoice 11/26/2021 OFFICE SUPPLIES
Virtual Pay

0.00 0.00

0.00 949.81 APA000169
140.80

90.65 109.83
371.10

45.24 192.19
2104 RAMONA HUMANE SOCIETY INC 12/22/2021 Virtual Pay 0.00 5,365.24 APA000170 COB11302 11/30 Invoice 11/30/2021 Ramona Humane Society Sheltering Servi 0.00 5,365.24 4199 ROGERS, ANDERSON, MALODY & SC 12/22/2021 Virtual Pay 0.00 17,500.00 APA000171 67511 Invoice 11/30/2021 Annual Audit 0.00 17,500.00
1113 RYAN M. WESTBROOK INC 12/22/2021 Virtual Pay 0.00 18.00 APA000172 768219 Invoice 12/02/2021 ANIMAL CARE SERVICES 0.00 18.00 2026 SECURITY SIGNAL DEVICES, INC 12/22/2021 Virtual Pay 0.00 1,234.70 APA000173 R-00333506 Invoice 12/22/2021 SECURITY SERVICES 0.00 179.55 R-00334998 Invoice 12/22/2021 SECURITY SERVICES 0.00 163.50 R-00335723 Invoice 12/22/2021 SECURITY SERVICES 0.00 58.25 R-00336119 Invoice 12/22/2021 SECURITY SERVICES 0.00 61.50 R-00336213 Invoice 12/22/2021 SECURITY SERVICES 0.00 138.00 R-00336338 Invoice 12/22/2021 SECURITY SERVICES 0.00 55.65 R-00337866 Invoice 12/22/2021 SECURITY SERVICES 0.00 218.65 R-00339408 Invoice 12/22/2021 SECURITY SERVICES 0.00 186.50 R-00339782 Invoice 12/22/2021 SECURITY SERVICES 0.00 113.25 29 12/22/2021 6:25:19 PM Page 2 of 4

Item 2.

Check Register
Vendor Number
Payable #
R-00340149
2292
0514467 -IN
2329
16605159
16605160
2344
WD -0191567
2407
09712228007 01/
10552227000 01/
1055223000412/
13912227587 01/
1538222702101/
19782338008 01/
4293
3774
2429
3006241341
2456
2334420-00
7194699-00
7200425-00
2461
920210052
DSB20204669
Vendor Name
Payable Type
Invoice

SIRCHIE
Invoice
ST. FRANCIS ELECTRIC
Invoice
Invoice
Payment Date Payment Type
Payable Date Payable Description
12/22/2021 SECURITY SERVICES
12/22/2021 Virtual Pay
09/24/2021 DEPT SUPPLIES
12/22/2021 Virtual Pay
10/31/2021 EMERGENCY SERVICES
10/31/2021 EMERGENCY SERVICES
STATE WATER RESOURCES CONTRO 12/22/2021 Virtual Pay
Invoice 12/22/2021 ANNUAL PERMIT FEE

THE GAS COMPANY
Invoice
Invoice
Invoice
Invoice
Invoice
Invoice

THE RETAIL COACH, LLC
Invoice
12/22/2021
12/13/2021 GAS UTILITY
12/13/2021 GAS UTILITY
12/10/2021 GAS UTILITY
12/22/2021 GAS UTILITY
12/13/2021 GAS UTILITY
12/22/2021 GAS UTILITY
Virtual Pay
12/22/2021 Virtual Pay
12/22/2021 Retail Coach Contract
TK ELEVATOR CORP 12/22/2021 Virtual Pay
Invoice 11/01/2021 BUILDING MAINTENANCE
TURF STAR, INC. 12/22/2021 Virtual Pay
Invoice 10/04/2021 EQUIPMENT MAINTENANCE
Invoice 09/23/2021 EQUIPMENT MAINTENANCE
Invoice 11/04/2021 EQUIPMENT MAINTENANCE
UNDERGROUND SERVICE ALERT 12/22/2021 Virtual Pay
Invoice 10/01/2021 DIG ALERT - SEWER
Invoice 10/01/2021 DIG ALERT - SEWER
2516 VOHNE LICHE KENNELS INC 12/22/2021
17739
2556
3556C01173
Invoice 12/07/2021 DEPT SUPPLIES
Virtual Pay
XYLEM WATER SOLUTIONS, INC 12/22/2021 Virtual Pay
Invoice 11/30/2021 MARSHALL CREEK LIFT STATION PUMP
Payment Type
Regular Checks
Manual Checks
Voided Checks
Bank Drafts
EFT's
Virtual Payments
Bank Code APBNK Summary
Payable Payment
Count
0 0
0 0
0 79
Count
0 0
0 0
0 42
Packet: APPKT02007-20211222 JM APA PAYMENT
Discount Amount Payment Amount Number
Discount Amount

0.00 Payable Amount

59.85 0.00 737.82 APA000174

0.00 737.82

0.00 0.00

0.00 3,306.01 APA000175
1,120.00
2,186.01

0.00 3,326.00 APA000176

0.00 3,326.00

0.00 0.00

0.00 1,293.84 APA000177
1,004.99

25.60 33.46
102.97

56.49 70.33

0.00 3,750.00 APA000178

0.00 3,750.00

0.00 1,272.90 APA000179

0.00 1,272.90

0.00 0.00

0.00 4,535.54 APA000180
1,263.82
2,360.69
911.03
226.16 APA000181
132.10

94.06 0.00 300.00 APA000182

0.00 300.00

0.00 73,230.63 APA000183

0.00 73,230.63
Discount Payment

0.00 0.00

0.00 310,459.15
79 42 0.00 310,459.15
30 12/22/2021 6:25:19 PM Page 3 of 4

Item 2.

Check Register
Fund
999
Virtual Payments
Name

POOLED CASH
Packet: APPKT02007-20211222 JM APA PAYMEN
79 42 0.00 310,459.15
Fund Summary
Period
12/2021
Amount
310,459.15
310,459.15
31 12/22/2021 6:25:19 PM Page 4 of

Item 2.

AGENDA ITEM NO.

BEAUMONT
-C A L 1 F O R N 1 A -
Printed Checks
ACII
InvoicePay
Bank Drafts

WARRANTS TO BE RATIFIED
Thursday, December 30, 2021
110893-110904 $
547-549
APA000184-APA000245 $
A/P Total $
MG Trust
Ca1PERS
359,902.44 FY 21/22
427,509.37
159,404.52
946,816.33
$ 24,781.76 457 Paydate 12/17/21
$ 3,591.24 401aPaydate 12/17/21
$ 709.20 FICA Paydate I2/17/21
$ 46,394.12 742 Classic
$ 45,779.26 743 Classic
$ 17,783.03 27308 PEPRA
$ 16,304.28 25763 PEPRA

I DO HEREBY CERTIFY THIS WARRANT LIST HAS BEEN COMPILED AND PREPARED TO MEET THE DAILY OPERATIONS FOR THE FISCAL YEAR JULY 1, 2021 - JUNE 30, 2022 SIGNATURE:

TITLE: CITY TREAS
SIGNATURE:

TITLE: F1NAN
32 Item 2.

BEAUMONT
Vendor Number
Payable #
Bank Code: APBNK-AP
4260
18209
1015
97346
1042
47031
City of Beaumont, CA
Vendor Name
Payable Type
Bank
10-8 RETROFIT INC
Invoice

ACES ANIMAL CARE
Invoice

ALL PURPOSE RENTALS
Invoice
Payment Date Payment Type
Payable Date Payable Description
12/30/2021 Virtual Pay
11/30/2021 VEHICLE MAINTENANCE
12/30/2021
11/30/2021 DEPT SUPPLIES
12/30/2021
12/16/2021 DEPT SUPPLIES
1050 AMAZON CAPITAL SERVICES 12/30/2021
1CN4-W4XH-VT9 Invoice
1 KTT-VJ H9-W7Q1 Invoice
1MDF-1D9G-K3P Invoice
1XWD-VNFV-7M Invoice
1YVL-LPHP-76QM Invoice
12/05/2021
12/08/2021
12/17/2021
12/01/2021
12/08/2021

OFFICE SUPPLIES

DEPT SUPPLIES

DEPT SUPPLIES
Virtual Pay
Virtual Pay
Virtual Pay
1086 ARROWHEAD RADIOLOGY MEDICAL 12/30/2021 Virtual Pay 4455 2038686.1 Invoice 11/08/2021 EMPLOYEE MEDICAL SERVICES 1100
2882961247
1005
01P713579
1111
G0R20489456
1127
483774
490123
500775
503468
503614
503932
AUTOZONE 12/30/2021 Virtual Pay
Invoice 12/14/2021 VEHICLE MAINTENANCE
A -Z BUS SALES,INC. 12/30/2021 Virtual Pay
Invoice 12/10/2021 VEHICLE MAINTENANCE
BANNING MEDICAL SERVICES 12/30/2021 Virtual Pay
Invoice 11/09/2021 EMPLOYEE MEDICAL SERVICES
BEAUMONT DO IT BEST HOME CEN1 12/30/2021
Credit Memo 02/11/2020 DEPT SUPPLIES
Credit Memo 07/22/2020 DEPT SUPPLIES
Invoice
Invoice
Invoice
Invoice
05/12/2021
07/23/2021
07/27/2021
08/04/2021
Virtual Pay

STREETS - DEPARTMENT SUPPLIES

STREETS - DEPARTMENT SUPPLIES
1136 BEAUMONT POWER EQUIPMENT 12/30/2021
7759
Invoice 12/14/2021 DEPT SUPPLIES
1140 BEAUMONT SAFE & LOCK 12/30/2021
75924
Invoice 12/21/2021 DEPT SUPPLIES
Virtual Pay
Virtual Pay
1196 CALIFORNIA BUILDING OFFICIALS 12/30/2021 Virtual Pay 14884
1210
11089646
11091167
1242
0954-1007418
0954-1008474
1302
2101294
1353
Invoice 12/17/2021 EMPLOYEE TRAINING
CALIFORNIA STATE FIRE PROTECTIO 12/30/2021 Virtual Pay
Invoice 11/30/2021 BUILDING MAINTENANCE
Invoice 11/30/2021 DEPT SUPPLIES
CED
Invoice
Invoice
12/30/2021 Virtual Pay
10/13/2021 DEPARTMENT SUPPLIES - ELECTRICAL
12/06/2021 DEPARTMENT SUPPLIES - ELECTRICAL
CLINICAL LABORATORY OF SAN BERT 12/30/2021 Virtual Pay
Invoice 12/01/2021 Clinical Labs

CUSTOM TROPHIES
12/30/2021 Virtual Pay
Check Register
Packet: APPKTO2027 - 20211230 JM APA PAYMENT
By Check Number
Discount Amount Payment Amount Number
Discount Amount Payable Amount

0.00 5,149.01 APA000184

0.00 5,149.01

0.00 0.00

0.00 0.00
539.09 APA000185
539.09

79.20 APA000186

79.20 1,375.91 APA000187
299.60
139.15

15.03 107.43
814.70
136.00 APA000188
136.00

13.34 APA000189

13.34 300.44 APA000190
300.44

0.00 396.00 APA000191

0.00 396.00

0.00 0.00

0.00 12.51 APA000192
-22.56
-24.22

9.39 9.69

8.22 31.99

58.67 APA000193

58.67 562.49 APA000194
562.49
140.00 APA000195
140.00
1,256.67 APA000196
1,048.17
208.50
591.68 APA000197
333.08
258.60

0.00 10,354.00 APA000198

0.00 10,354.00

0.00 210.11 APA000199
12/30/2021 10:52:50 AM
33 of 6

Item 2.

Check Register
Vendor Number Vendor Name Payment Date Payment Type Discount Amount Payment Amount Number Payable # Payable Type Payable Date Payable Description Discount Amount Payable Amount 002577 Invoice 12/17/2021 DEPT SUPPLIES 0.00 210.11
1237 DANIEL WILLIAM DOPP 12/30/2021 Virtual Pay
114 Invoice 12/09/2021 EMERGENCY SERVICES
115 Invoice 12/09/2021 EMERGENCY SERVICES
116 Invoice 12/16/2021 EMERGENCY SERVICES
Packet: APPKT02027-202112301M APA PAYMEN1

0.00 630.00 APA000200

0.00 140.00

0.00 210.00

0.00 280.00
1392 DELL MARKETING L.P. 12/30/2021 Virtual Pay 0.00 1,524.65 APA000201 10525065880 Invoice 10/11/2021 COMPUTER SUPPLIES 0.00 1,524.65 1402 DEPARTMENT OF JUSTICE 12/30/2021 Virtual Pay 0.00 1,081.00 APA000202 548174 Invoice 12/03/2021 PROFESSIONAL SERVICES 0.00 1,081.00 1422 DICK'S ALL AUTO REPAIR, INC 12/30/2021 Virtual Pay 0.00 207.00 APA000203 25831 Invoice 11/05/2021 VEHICLE MAINTENANCE 0.00 51.75 25942 Invoice 12/06/2021 VEHICLE MAINTENANCE 0.00 51.75 25952 Invoice 12/07/2021 VEHICLE MAINTENANCE 0.00 51.75 25978 Invoice 12/14/2021 VEHICLE MAINTENANCE 0.00 51.75 1424 DIRECTV 12/30/2021 Virtual Pay 0.00 205.23 APA000204 051885754X2112 Invoice 12/30/2021 BUILDING UTILITY 0.00 205.23 1501 FAIRVIEW FORD 12/30/2021 Virtual Pay 0.00 2,419.73 APA000205 C86796 Invoice 07/26/2021 VEHICLE MAINTENANCE 0.00 2,419.73 1518 FLYERS ENERGY 12/30/2021 Virtual Pay 0.00 2,905.19 APA000206 CFS-2828417 Invoice 11/30/2021 FUEL EXPENSE 0.00 1,162.28 CFS-2847343 Invoice 12/10/2021 FUEL EXPENSE 0.00 1,742.91 1533 FRONTIER COMMUNICATIONS 12/30/2021
951-197-0708-12 Invoice 12/16/2021 PHONE UTILITY
951-922-6646-04 Invoice 12/16/2021 PHONE UTILITY
Virtual Pay

0.00 0.00

0.00 1,405.11 APA000207
1,190.00
215.11
1553 GALLS INC. 12/30/2021 Virtual Pay 0.00 921.26 APA000208 BC1508101 Invoice 12/15/2021 EMPLOYEE UNIFORMS 0.00 794.72 6C1509330 Invoice 12/16/2021 EMPLOYEE UNIFORMS 0.00 126.54 4181 HASA, INC 12/30/2021 Virtual Pay 0.00 2,777.61 APA000209 791797 Invoice 12/14/2021 CHEMICALS 0.00 2,777.61
1612 HEARD'S INVESTIGATIONS AND POL 12/30/2021 Virtual Pay 0.00 175.00 APA000210 7335 Invoice 12/17/2021 HIRING COSTS 0.00 175.00
3572 HECTOR ALVARADO 12/30/2021 Virtual Pay 0.00 3,830.00 APA000211 1690 Invoice 12/10/2021 Bus Wash and Detail 0.00 1,950.00 1696 Invoice 12/21/2021 Bus Wash and Detail 0.00 1,880.00 1622 HI -WAY SAFETY INC 12/30/2021
123735 Invoice 12/08/2021 DEPT SUPPLIES
123736 Invoice 12/08/2021 DEPT SUPPLIES
Virtual Pay

0.00 0.00

0.00 2,127.35 APA000212
736.77
1,390.58
3271 KS STATEBANK 12/30/2021 Virtual Pay 0.00 11,830.77 APA000213 53429-2-2022 Invoice 12/30/2021 VACTOR AND PATCH TRUCK PAYMENTS 0.00 11,830.77 1901 MANNING & KASS, ELLROD, RAMIR 12/30/2021 Virtual Pay 0.00 297.50 APA000214 727021 Invoice 12/03/2021 LEGAL SERVICES 0.00 297.50
1980 MYERS TIRE SUPPLY 12/30/2021 Virtual Pay 0.00 697.98 APA000215 11458569 Invoice 12/14/2021 VEHICLE MAINTENANCE 0.00 697.98 1984 NAPA AUTO PARTS 12/30/2021 Virtual Pay 0.00 227.19 APA000216 168472 Credit Memo 12/30/2021 VEHICLE MAINTENANCE 0.00 -19.40 168816 Invoice 12/06/2021 VEHICLE MAINTENANCE 0.00 88.64 168837 Invoice 12/06/2021 VEHICLE MAINTENANCE 0.00 21.54 168872 Invoice 12/07/2021 VEHICLE MAINTENANCE 0.00 15.15 12/30/2021 10:52:50 AM
34 ��y�zofE

Item 2.

Check Register
Vendor Number
Payable #
169075
169278
169362
169476
169562
1317
73781530
3028
1-01941254
2009
2678-400764
2678-400776
2678-401125
2678-401421
2678-402479
2678-402741
2678-402762
2678-403020
2678-403165
2678-404350
2678-404354
2039
2030208824
2030208825
2030208826
2030208827
3652
23250789
23253461
23253502
23253520
23257352
23257386
23257400
23257404
Vendor Name
Payable Type
Invoice
Invoice
Invoice
Invoice
Invoice
Payment Date Payment Type
Payable Date Payable Description
12/10/2021 VEHICLE MAINTENANCE
12/13/2021 VEHICLE MAINTENANCE
12/14/2021 VEHICLE MAINTENANCE
12/16/2021 VEHICLE MAINTENANCE
12/17/2021 VEHICLE MAINTENANCE
OCCUPATIONAL HEALTH CENTERS 12/30/2021 Virtual Pay
Invoice 12/15/2021 EMPLOYEE MEDICAL SERVICES

OFFICE SOLUTIONS
Invoice

O'REILLY AUTO PARTS
Invoice
Invoice
Invoice
Invoice
Invoice
Invoice
Invoice
Invoice
Invoice
Invoice
Credit Memo
12/30/2021 Virtual Pay
11/22/2021 CUBICLES FOR WEST END ADMIN OFFICES
12/30/2021 Virtual Pay
12/06/2021 VEHICLE MAINTENANCE
12/06/2021 VEHICLE MAINTENANCE
12/07/2021 VEHICLE MAINTENANCE
12/08/2021 VEHICLE MAINTENANCE
12/13/2021 VEHICLE MAINTENANCE
12/14/2021 VEHICLE MAINTENANCE
12/14/2021 VEHICLE MAINTENANCE
12/15/2021 VEHICLE MAINTENANCE
12/16/2021 VEHICLE MAINTENANCE
12/21/2021 VEHICLE MAINTENANCE
12/30/2021 VEHICLE MAINTENANCE
PARKHOUSE TIRE, INC. 12/30/2021 Virtual Pay
Invoice 12/21/2021 VEHICLE MAINTENANCE
Invoice 12/16/2021 VEHICLE MAINTENANCE
Invoice 12/16/2021 VEHICLE MAINTENANCE
Invoice 12/16/2021 VEHICLE MAINTENANCE
PRUDENTIAL OVERALL SUPPLY 12/30/2021 Virtual Pay
Invoice
Invoice
Invoice
Invoice
Invoice
Invoice
Invoice
Invoice
12/08/2021 Streets - Prudential Uniforms
12/15/2021
12/15/2021
12/15/2021
12/22/2021
12/22/2021
12/22/2021
12/22/2021
Uniform Rental and Cleaning
Uniform Rental and Cleaning
Uniform Rental and Cleaning
Uniform Rental and Cleaning
Uniform Rental and Cleaning
Uniform Rental and Cleaning
WW - Prudential Uniforms
4052 QUICK RESPONSE FIRE PROTECTION 12/30/2021 Virtual Pay 5616
2105
129036
2157
21-32112
Invoice 12/13/2021 PERFORMANCE ON FIRE SUPPRESSION SY

RANCHO READY MIX
Invoice

RIVERSIDE ASSESSOR
Invoice
12/30/2021 Virtual Pay
11/18/2021 DEPT SUPPLIES
12/30/2021 Virtual Pay
01/31/2021 DOCUMENT# E-202100050 FISH
3681 RIVERSIDE COUNTY DEPARTMENT C 12/30/2021
202111000169
2238
2004715
Invoice 12/15/2021 DEPT SUPPLIES
Virtual Pay
SAN GORGONIO MEMORIAL HOSPIT 12/30/2021 Virtual Pay
Invoice 12/30/2021 EMPLOYEE MEDICAL SERVICES
2257 SCOTT FAZEKAS & ASSOCIATES, INC 12/30/2021 Virtual Pay 21725
2026
S-01062887
Invoice 11/30/2021 FY 21/22 Building Plan Check Services, SF SECURITY SIGNAL DEVICES, INC 12/30/2021 Virtual Pay
Invoice 12/08/2021 SECURITY SERVICES
3835 SEGURA FAMILY INVESTMENT INC 12/30/2021
Virtual Pay
Packet: APPKT02027-20211230 JM APA PAYMEN1
Discount Amount Payment Amount Number
Discount Amount

0.00 0.00

0.00 Payable Amount

21.54 64.62

14.66 9.68

10.76 0.00 290.00 APA000217

0.00 290.00

0.00 0.00

0.00 0.00
36,886.70 APA000218
36,886.70
613.50 APA000219

15.49 113.11

71.63 60.44

17.22 56.29

9.64 94.66

4.30 192.72
-22.00
1,247.22 APA000220
230.10
374.60

99.79 542.73
631.60 APA000221

58.31 103.71

48.21 93.02
103.71

50.64 93.02

80.98 2,600.00 APA000222
2,600.00
536.06 APA000223
536.06

50.00 50.00 APA000224

0.00 680.50 APA000225

0.00 680.50

0.00 665.80 APA000226

0.00 • 665.80

0.00 17,393.47 APA000227

0.00 17,393.47

0.00 253.50 APA000228

0.00 253.50

0.00 65.00 APA000229
12/30/2021 10:52:50 AM
35 ruy,-1ofE

Item 2.

Check Register
Vendor Number
Payable #
2118
2281
8000478935
Vendor Name Payment Date
Payable Type Payable Date
Invoice 12/13/2021

SHRED -IT
Invoice
Payment Type
Payable Description

VEHICLE MAINTENANCE
12/30/2021 Virtual Pay
11/30/2021 PROFESSIONAL SERVICES
3260 SITEONE LANDSCAPE SUPPLY, LLC 12/30/2021
115289235-001 Invoice
2310
1009161
2329
16605161A
16605161B
16605162A
166051626
4443
4 2405
80951
2416
0011499777
0011502101
0011502102
P849651
2873
151157742-0
2453
583058
2456
7194457-01
2472

SOUTH COAST LIGHTING
Invoice
12/22/2021 DEPT SUPPLIES
Virtual Pay
& DESIGN 12/30/2021 Virtual Pay
10/22/2021 LIGHT REPAIR Beaumont Ave - Oak Valley
ST. FRANCIS ELECTRIC 12/30/2021 Virtual Pay
Invoice 11/30/2021 EMERGENCY SERVICES
Invoice 11/30/2021 EMERGENCY SERVICES
Invoice 11/30/2021 EMERGENCY SERVICES
Invoice 11/30/2021 EMERGENCY SERVICES

STEVE H NUTT
Invoice

THE COUNSELING TEAM
Invoice

THE PRESS -ENTERPRISE
Invoice
Invoice
Invoice
Credit Memo

TPX COMMUNICATIONS
Invoice

TRITECH FORENSICS
Invoice
TURF STAR, INC.

Invoice
UPS
000087R790511 Invoice
2490
72058791
2518
73114208
73152829
3422
80539818
80547343
3908
180483
3457
12/30/2021 Virtual Pay
12/20/2021 HIRING COSTS
12/30/2021 Virtual Pay
12/16/2021 HIRING COSTS
12/30/2021 Virtual Pay
11/09/2021 ADVERTISING
11/20/2021 ADVERTISING
11/20/2021 ADVERTISING
12/29/2021 OVERAGE/UNAPPLIED AMOUNT ON STAT
12/30/2021 Virtual Pay
12/16/2021 PHONE UTILITY
12/30/2021 Virtual Pay
12/15/2021 DEPT SUPPLIES
12/30/2021 Virtual Pay
09/23/2021 EQUIPMENT MAINTENANCE
12/30/2021 Virtual Pay
12/18/2021 SHIPPING COSTS
VERIZON BUSINESS SERVICE 12/30/2021
Invoice 12/20/2021 PHONE UTILITY

VULCAN MATERIALS
Invoice
Invoice
Virtual Pay
12/30/2021 Virtual Pay
10/31/2021 ST - SPECIAL DEPT SUPPLIES
12/15/2021 ST - SPECIAL DEPT SUPPLIES
WAXIE SANITARY SUPPLY 12/30/2021 Virtual Pay
Invoice 12/20/2021 BUILDING MAINTENANCE
Invoice 12/22/2021 BUILDING MAINTENANCE
WEST COAST ARBORISTS, INC 12/30/2021 Virtual Pay
Invoice 12/02/2021 Removal of Trees at Stewart Park

ZONAR SYSTEMS
12/30/2021 Virtual Pay
Packet: APPKT02027-20211230 JM APA PAYMEN'
Discount Amount Payment Amount Number
Discount Amount Payable Amount

0.00 65.00

0.00 1,622.07 APA000230

0.00 1,622.07

0.00 1,855.33 APA000231

0.00 1,855.33

0.00 12,402.03 APA000232

0.00 12,402.03

0.00 0.00

0.00 2,284.00 APA000233
840.00
560.00
616.50
267.50

0.00 1,500.00 APA000234

0.00 1,500.00

0.00 300.00 APA000235

0.00 300.00

0.00 0.00

0.00 653.20 APA000236
275.20
218.00
196.00
-36.00

0.00 508.61 APA000237

0.00 508.61

0.00 177.95 APA000238

0.00 177.95

0.00 507.88 APA000239

0.00 507.88

0.00 0.00

42.78 42.78 APA000240

0.00 1,577.52 APA000241

0.00 1,577.52

0.00 0.00

0.00 0.00
487.13 APA000242
189.74
297.39
593.31 APA000243
507.78

85.53 0.00 18,156.00 APA000244

0.00 18,156.00

0.00 385.67 APA000245
12/30/2021 10:52:50 AM
36 y 4of(

Item 2.

Check Register
Packet: APPKT02027-20211230 JM APA PAYMEN
Vendor Number Vendor Name Payment Date Payment Type Discount Amount Payment Amount Number Payable # Payable Type Payable Date Payable Description Discount Amount Payable Amount SI532760 Invoice 12/20/2021 SOFTWARE 0.00 385.67
Bank Code APBNK Summary
Payable Payment
Payment Type Count Count Discount Payment
Regular Checks 0 0 0.00 0.00
Manual Checks 0 0 0.00 0.00
Voided Checks 0 0 0.00 0.00
Bank Drafts 0 0 0.00 0.00
EFT's 0 0 0.00 0.00
Virtual Payments 119 62 0.00 159,404.52
119 62 0.00 159,404.52
12/30/2021 10:52:50 AM
37 of

Item 2.

Check Register
Fund
999
Virtual Payments
Name

POOLED CASH
Packet: APPKT02027-20211230 JM APA PAYMEN
119 62 0.00 159,404.52
Fund Summary
Period Amount
12/2021 159,404.52
159,404.52
12/30/2021 10:52:50 AM
38 rdye of

Item 2.

City of Beaumont, CA

BEAUMONT
Vendor Number Vendor Name Payment Date Payment Type
Bank Code: AP PY VEND -AP PAYROLL VENDOR - AP PAYABLES
1279 CIGNA HEALTH CARE 12/28/2021 Regular
Payable # Payable Type Post Date Payable Description
Account Number Account Name Item Description
INV0000282 Invoice 11/05/2021 CIGNA MEDICAL INSURANCE
100-0000-2200-0000 HEALTH INSURANCE CIGNA MEDICAL INSURANCE INV0000331 Invoice
100-0000-2200-0000
1310
Payable #
INV0000283
INV0000284
INV0000332
INV0000333
1773
Payable #
INV0000302
INV0000318
IN V0000322
INV0000351
2074
Payable #
Check Repori
By Check Numbe
Date Range: 12/23/2021 - 12/30/202
Discount Amount Payment Amount Number

0.00 11,357.91 110893
Discount Amount Payable Amount
Distribution Amount

0.00 5,678.96
5,678.96
11/19/2021 CIGNA MEDICAL INSURANCE 0.00 5,678.95
HEALTH INSURANCE CIGNA MEDICAL INSURANCE 5,678.95
COLONIAL LIFE 12/28/2021 Regular 0.00 519.04 110894
Payable Type Post Date Payable Description Discount Amount Payable Amount Account Number Account Name Item Description Distribution Amount Invoice 11/05/2021 COLONIAL INSURANCE 0.00 209.62
100-0000-2051-0000 COLONIAL INS-WITHHOL COLONIAL INSURANCE 209.62 Invoice 11/05/2021 COLONIAL INSURANCE 0.00 49.90
100-0000-2051-0000 COLONIAL INS-WITHHOL COLONIAL INSURANCE 49.90 Invoice 11/19/2021 COLONIAL INSURANCE 0.00 209.62
100-0000-2051-0000 COLONIAL INS-WITHHOL COLONIAL INSURANCE 209.62 Invoice 11/19/2021 COLONIAL INSURANCE 0.00 49.90
100-0000-2051-0000 COLONIAL INS-WITHHOL COLONIAL INSURANCE 49.90 KAISER FOUNDATION HEALTH PLAN 12/28/2021 Regular
Payable Type Post Date Payable Description
Account Number Account Name Item Description
Invoice 11/05/2021 KAISER MEDICAL INSURANCE
100-0000-2200-0000 HEALTH INSURANCE KAISER MEDICAL INSURANCE Invoice
100-0000-2200-0000
Invoice
100-0000-2200-0000
Invoice
100-0000-2200-0000
11/11/2021 KAISER MEDICAL INSURANCE

HEALTH INSURANCE KAISER MEDICAL INSURANCE
11/11/2021 KAISER MEDICAL INSURANCE

HEALTH INSURANCE KAISER MEDICAL INSURANCE
11/19/2021 KAISER MEDICAL INSURANCE

HEALTH INSURANCE KAISER MEDICAL INSURANCE

PRE -PAID LEGAL SERVICES INC
Payable Type
Account Number
IN V0000303 Invoice
100-0000-2045-0000
INV0000352 Invoice
100-0000-2045-0000
INV0000390 Invoice
100-0000-2045-0000
3675
Payable #
12/28/2021 Regular
Post Date Payable Description
Account Name
11/05/2021 PREPAID LEGAL

PRE PAID LEGAL
11/19/2021 PREPAID LEGAL

PRE PAID LEGAL
12/03/2021 PREPAID LEGAL

PRE PAID LEGAL

ZENITH AMERICAN SOLUTIONS
Payable Type Post Date
Account Number
INV0000308 Invoice
100-0000-2085-0000
INV0000357 Invoice
Item Description

PREPAID LEGAL

PREPAID LEGAL
12/28/2021 Regular
Payable Description
Account Name
11/05/2021 ZENITH

ZENITH WITHHOLDING ZENITH
11/19/2021 ZENITH
Item Description

0.00 160, 216.40 110895
Discount Amount Payable Amount
Distribution Amount

0.00 80,384.53
80,384.53

0.00 0.00
899.08
899.08
899.08
899.08

0.00 78,033.71
78,033.71

0.00 755.28 110896
Discount Amount Payable Amount
Distribution Amount

0.00 0.00

0.00 249.10
249.10
249.10
249.10
257.08
257.08

0.00 31.32 110897
Discount Amount Payable Amount
Distribution Amount

0.00 0.00

15.66 15.66

15.66 12/30/2021 12:34:42 PM
39 r uyc
of

Item 2.

Check Report
Vendor Number Vendor Name
Payment Date Payment Type
100-0000-2085-0000 ZENITH WITHHOLDING ZENITH
Date Range: 12/23/2021- 12/30/202.

Discount Amount Payment Amount Number

15.66 Bank Code AP PY VEND Summary
Payable Payment
Payment Type Count Count Discount Payment
Regular Checks 15 5 0.00 172,879.95
Manual Checks 0 0 0.00 0.00
Voided Checks 0 0 0.00 0.00
Bank Drafts 0 0 0.00 0.00
EFT's 0 0 0.00 0.00
Virtual Payments 0 0 0.00 0.00
15 5 0.00 172,879.95
12/30/2021 12:34:42 PM
40 of

Item 3.

BEAUMONTA -C A L I F O R N I
Staff Report
TO: City Council
FROM: Nicole Wheelwright, Deputy City Clerk
DATE January 18, 2022
SUBJECT: Quarterly Status of City Council Travel and Training Reimbursements Background and Analysis:

Included in the FY2022 approved budget is a line item of $12,500 allocated for City Council travel, training and meetings. Per City Council instruction, City staff is to provide quarterly reports on reimbursed travel expenses to City Council. Attachment A reflects the reimbursements processed during the months of October through December 2021.

Fiscal Impact:

The reimbursements are currently within the budgeted allotment.

Recommended Action:

Receive and file.

Attachments:

A. Travel Training and Meeting Reimbursement Quarterly Report 41 Council Travel and Training Reimbursements Oct - Dec 2021 Item 3.

Council Travel Training and Local Meeting Budget
FY 2021-2022 Budget
Travel and Training and Local
Meetings
Balance
$12,500.00
$11,436.04
Date
Elected Travel/Training/ Meeting
Reimbursed
Amount
Notes
11/15/2021 Lloyd White
Board of Supervisor's Meeting
$39.36
Mileage and
Parking
42 Item 4.

BEAUMONTA —c A L I F O R N I
Staff Report
TO: City Council
FROM: Jennifer Ustation, Finance Director
DATE January 18, 2022
SUBJECT: Approval of Corrected Gann Limit for FY2021 and FY2022 Background and Analysis:

In November 1979, Proposition 4 (Gann Initiative) was adopted by the State of California. Proposition 4 created Article XIIIB of the State Constitution placing limits on the amount of revenue which can be spent by all entities of government. Proposition 4 was modified by Proposition 111 in June 1990. Proposition 111 provided new adjustment formulas for the calculation of the annual appropriations limit.

The appropriations limit is based on actual appropriations during the 1978-79 fiscal year and is increased each year using the growth of population and inflation. Not all revenues are restricted by the appropriations limit, only those that are referred to as "proceeds of taxes."
The limit is calculated by taking the prior year's limit and applying growth factors as appropriate. The growth factors are determined by 1) the change in population in either the City or the County, and 2) the change in per capita income or non-residential new construction.

It was discovered that the original calculation of the FY2021 had an incorrect per capita income growth rate of 4.63%. A rate of 3.73% should have been applied instead. Since the calculation begins with the prior year's limit the FY2022 calculation has also been corrected.

The City's actual appropriation level remains well below the limit of $94.9 million for FY2021
Fiscal Impact:

City staff estimates the cost to prepare this report to be $290. 43 Item 4.

Recommended Action:

Waive the full reading and adopt by title only a "Resolution of the City Council of the City of Beaumont, approving the Appropriation Limit for the 2020-21 and 2021-22 Fiscal Years."
Attachments:

A. Appropriation Limit Calculation for the Fiscal Year ending June 30, 2021 B. Appropriation Limit Calculation for the Fiscal Year ending June 30, 2022 C. Resolution of the City Council approving the FY2020-21 and FY2021-22 Appropriation Limit
44 Item 4.

CITY OF BEAUMONT

APPROPRIATION LIMIT CALCULATION
FOR THE YEAR ENDING JUNE 30, 2021
APPROPRIATION LIMIT JUNE 30, 2020 $ 88,187,926
PRICE CHANGE (1):

PER CAPITA INCOME

NON-RESIDENTIAL

NEW CONSTRUCTION

GREATER OF TWO OPTIONS

3.73%

2.87%

3.73%
POPULATION CHANGE (2):

BEAUMONT 1/1/20 3.72%
RIVERSIDE COUNTY 1/1/20 0.83%
GREATER OF TWO OPTIONS 3.72%
CALCULATION FACTOR FOR JUNE 30, 2020

PER CAPITA PERCENTAGE INCREASE

POPULATION PERCENTAGE INCREASE
TOTAL (PER CAPITA x POPULATION)
GROSS APPROPRIATION LIMIT JUNE 30, 2021
ADJUSTMENTS:

APPROPRIATIONS LIMIT FOR 2020-2021

PROCEEDS OF TAXES SUBJECT TO APPROPRIATION

AMOUNT LIMIT EXCEEDS TAXES SUBJECT TO LIMIT

1.0373

1.0372

1.07588756
$ 94,880,293
0 $ 94,880,293
18,311,953
$ 76,568,340
CONCLUSION: THE CITY HAS NOT EXCEEDED ITS APPROPRIATION LIMIT FOR THE '19-20 YEAR.

THE CITY WILL NOT EXCEEDED ITS APPROPRIATION LIMIT FOR THE '20-'21 YEAR. (1) ALLOWED TO USE THE LARGER OF THE STATE'S PER CAPITA INCOME INCREASE OR THE CITY'S

INCREASE IN TAXABLE PROPERTY VALUES DUE TO NON-RESIDENTIAL CONSTRUCTION AS A PERCENTAGE OF THE TOTAL TAXABLE VALUE INCREASE.
(2) ALLOWED TO USE THE LARGER OF CITY'S OR COUNTY'S PERCENTAGE POPULATION INCREASE 45 Item 4.

CITY OF BEAUMONT

APPROPRIATION LIMIT CALCULATION
FOR THE YEAR ENDING JUNE 30, 2022
APPROPRIATION LIMIT JUNE 30, 2021 $ 94,880,293
PRICE CHANGE (1):

PER CAPITA INCOME

NON-RESIDENTIAL

NEW CONSTRUCTION

GREATER OF TWO OPTIONS

5.73%

1.91%

5.73%
POPULATION CHANGE (2):

BEAUMONT 1/1/21 1.85%
RIVERSIDE COUNTY 1/1/21 0.67%
GREATER OF TWO OPTIONS 1.85%
CALCULATION FACTOR FOR JUNE 30, 2021

PER CAPITA PERCENTAGE INCREASE

POPULATION PERCENTAGE INCREASE
TOTAL (PER CAPITA x POPULATION)
GROSS APPROPRIATION LIMIT JUNE 30, 2022
ADJUSTMENTS:

APPROPRIATIONS LIMIT FOR 2021-2022

PROCEEDS OF TAXES SUBJECT TO APPROPRIATION

AMOUNT LIMIT EXCEEDS TAXES SUBJECT TO LIMIT

1.0573

1.0185

1.07686005
$ 102,172,797
0 $ 102,172,797
21,424,656
$ 80,748,141
CONCLUSION: THE CITY HAS NOT EXCEEDED ITS APPROPRIATION LIMIT FOR THE '20-21 YEAR.

THE CITY WILL NOT EXCEEDED ITS APPROPRIATION LIMIT FOR THE '21-'22 YEAR. (1) ALLOWED TO USE THE LARGER OF THE STATE'S PER CAPITA INCOME INCREASE OR THE CITY'S

RESOLUTION NO. 2022 -

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BEAUMONT, CALIFORNIA APPROVING THE APPROPRIATION LIMIT FOR THE 2020-21 AND 2021-22 FISCAL YEAR
WHEREAS, this resolution is rescinding resolutions 2020-19 and 2021-27; and WHEREAS, Article XIIIB of the Constitution of the State of California was adopted in November 1979, establishing Proposition 4, placing limits on the amount of revenue which can be appropriated by any governmental agency in any fiscal year; and WHEREAS, Proposition 111 was adopted in June 1990, amending Proposition 4, to change adjustments factor's to using the greater of the percentage change in population in the City or the County, and greater of the percentage change in per capita income or non- residential new construction; and
WHEREAS, the percentage change in population was 3.72% for FY2021 and 1.85% for FY2022 in the City of Beaumont and the percentage change in State per capital personal income was 3.73% for Fiscal Year 2020-21 and 5.73% for Fiscal Year 2021-22, and WHEREAS, the "proceeds of taxes" for the City of Beaumont will not exceed the appropriations limit for Fiscal Year 2020-21 and Fiscal Year 2021-22, NOW, THEREFORE IT IS HEREBY RESOLVED, by the City Council of the City of Beaumont, California, as follows:

Section 1. That the appropriations limit for the City of Beaumont for Fiscal Year 2020- 21 shall be $94,880,293 and for Fiscal Year 2021-22 shall be $103,059,285 Section 2. That the adjustment factors used in calculating the new limit shall be the percentage changes 1) in the population of the City of Beaumont, and 2) State per capita personal income change over prior year
MOVED, PASSED AND ADOPTED this 18th day of January 2022, by the following vote:

AYES:

NOES:

ABSTAIN:

ABSENT:

Lloyd White, Mayor
ATTEST:

Deputy City Clerk

Item 5.

BEAUMONTA -C A L I F O R N I
Staff Report
TO: City Council
FROM: Robert Vestal, Assistant Public Works Director
DATE January 18, 2022
SUBJECT: Accept Security Agreement and Performance and Payment Bond No.

CMS0346632 for Street Improvements Associated with Tract Map No. 27971-9 and Accept Security Agreement and Performance and Payment Bond No. 30128141 for Street Improvements Associated with Tract Map No. 36307
Background and Analysis:

The City requires all developers to provide security for public improvements consisting of, but not limited to, sewer improvements, street improvements, storm drain improvements, utility improvements, and monument improvements.

RSI COMMUNITIES -CALIFORNIA, LLC
The developer, RSI Communities -California, LLC (acquired by Taylor Morrison) is proposing to construct all work associated with the following improvements:
• Public Works Project No. 17-4291, as shown on City File No. 3378, under Performance and Payment Bond No. CMS0346632 for Tract Map No. 27971-9.

Improvements generally consist of curb and gutter, sidewalks, ac pavement, etc., along Santa Fe Court, Winchester Place, Topeka Way, Little Rock Place, and Albany Lane.

RSI Communities -California, LLC has provided a security agreement and security in the form of a bond for the public improvements. The agreement has been reviewed by City staff and found to be consistent with the Beaumont Municipal Code. 48 Item 5.

Figure 1- Olivewood Community (Tract Map No. 27971-9)
TRI POINTE HOMES IE-SD, INC.

The developer, Tri Pointe Homes IE-SD, Inc. is proposing to construct all work associated with the following improvements:
• Public Works Project No. 2021-0634, as shown on City File No. 3386, under Performance and Payment Bond No. 30128141 for Tract Map No. 36307.

Improvements generally consist of sewer mains, manholes, and residential laterals within the tract boundary and along Oak Valley Parkway.

Tri Pointe Homes IE-SD, Inc. has provided a security agreement and security in the form of a bond for the public improvements. The agreement has been reviewed by City staff and found to be consistent with the Beaumont Municipal Code. 49 Item 5.

Cherry Valley

VINELAND ST
z
D

OAK VALLEY PARKWAY
60 BROOKSIDE AV

OAK VALLEY PARKWAY
r
DUTTON ST d

VICINITY MAP
8eauman f
w
6TH ST

RMISEY ST
INTERSTATE 10
NTS
Figure 2- Tract Map No. 36307
The following table is a summary of the security recommended for acceptance:

Table 1
Security No.

Security Type
Type of
Improvement
Principal
CMS0346632
Performance &
Payment Bond
Street
Tract 27971-9
RSI Communities -California,
LLC
30128141
Performance &
Payment Bond
Sewer
Tract 36307
Tri Pointe Homes IE-SD, Inc
Fiscal Impact:

The cost of preparing the staff report is estimated to be $750.

Recommended Action:

Accept Security Agreement and Performance and Payment Bond No.

Attachments:

A. Performance and Payment Bond No. CMS0346632 and security agreement B. Performance and Payment Bond No. 30128141 and security agreement 51 Item 5.

Rev. 07 22 2020
Basic Gov (Sales Force) #
File #

AGREEMENT TO PROVIDE SECURITY FOR IMPROVEMENTS

FOR TRACT MAP OR PARCEL MAP OR PLOT PLAN
(Tract Map/Parcel Map/Plot Plan No. 27971-9 )
I7-'129!
337f
THIS AGREEMENT TO PROVIDE SECURITY FOR IMPROVEMENTS ("Security Agreement") is made by and between CITY OF BEAUMONT ("CITY") and RSI Communities -California LLC, a Delaware limited liability company ("DEVELOPER").

RECITALS
A. DEVELOPER has applied to the CITY for permission to develop certain real property, pursuant to Tract Map/Parcel Map/Plot Plan # 27971-9, (`Map'). DEVELOPER has also asked the CITY to accept the dedication of the street or streets and other proposed public rights -of -way, parks and recreation facilities, and easements as depicted on the Map and to otherwise approve the Map so that it may be recorded as required by law; and B. The CITY requires, as a condition precedent to the acceptance and approval of the Map and the dedication of the public rights -of -way and easements depicted thereon, that such rights -of -way be improved with (for example) grading, paving, curbs, gutters, sidewalks, street lights, stormdrains, sanitary sewers and appurtenances thereto, street name signs, survey monuments, electrical and telecommunications, water pipes, water mains, fire hydrants and appurtenances thereto, and landscaping, including any warranty work for all such improvements (collectively, "Improvements"); and
C. The Improvements have not yet been constructed and completed and it is the purpose of this Security Agreement to set forth the terms and conditions by which the DEVELOPER shall guarantee that such Improvements shall be constructed and completed within the time set forth herein.

AGREEMENT
NOW, THEREFORE, in consideration of the acceptance of the DEVELOPER's offer of dedication and the approval of the Map for filing and recording as provided and required by law, the CITY and the DEVELOPER hereby agree as follows:

1. Provision of Improvements. DEVELOPER shall provide, at the DEVELOPER's sole cost and expense, all necessary labor and materials to complete the construction of the Improvements depicted on the Map and described in the conditions of approval of the Map within one (1) year of the date of this Security Agreement.

2. Inspection by the CITY. The CITY shall inspect, at the DEVELOPER's sole cost and expense, all of the work, labor and materials performed and provided by the DEVELOPER in connection with the Improvements.
1 52

Item 5.

3. Compliance with Plans and Specifications. The Improvements shall be constructed and installed in strict accordance with the CITY -approved plans and specifications.

4. Security for Performance. Concurrently with the execution of this Security Agreement by DEVELOPER, DEVELOPER shall deliver to the CITY a performance bond issued by a corporate surety in substantially the form required by California Government Code 66499.1 and attached hereto as Exhibit "A", in an amount that is not less than 100% of the total estimated cost of the Improvements and any warranty therefor. The performance bond shall be issued by an "admitted" corporate surety insurer authorized to do business in the State of California and the surety insurer shall have an A.M. Best rating of at least "A, XV". The surety insurer shall have assets exceeding its liabilities in the amount equal to or in excess of the amount of the bond, and the bond shall not be in excess of 10% of the surety insurer's assets. The security or bond shall also insure against any and all defects in the Improvements for a period of not less than one full year after the date of acceptance thereof by the CITY. The bond shall be duly executed and shall meet all the requirements of Section 995.660 of the California Code of Civil Procedure.

5. Security for Contractors, Subcontractors, Laborers and Materialmen. The DEVELOPER shall also provide a payment bond issued by a corporate surety for the security of laborers and materialmen, which bond or bonds shall be in substantially the form required by California Government Code Section 66499.2 attached hereto as Exhibit "B" and made a part hereof. The amount of the bond(s) shall be no less than 100% of the total estimated amount needed to secure payment to the contractor, to the subcontractors, and to the persons furnishing labor, materials, or equipment to them for the Improvements. The laborers and materialmen bond shall be provided by an "admitted" corporate surety insurer authorized to transact surety insurance in the State of California with an A.M. Best rating of "A, XV", and with assets exceeding its liabilities in the amount equal to or in excess of the amount of the bond, and the bond shall not be in excess of 10% of the surety insurer's assets. The bond shall be duly executed and shall meet all the requirements of Section 995.660 of the California Code of Civil Procedure.

6. General Liability and Worker's Compensation Insurance. The DEVELOPER shall, before commencing any work, obtain commercial general liability insurance (primary) of not less than $2,000,000.00 per occurrence for all coverages and $2,000,000.00 general aggregate. The CITY and its employees and agents shall be added as additional insureds. Coverage shall apply on a primary non-contributing basis in relation to any other insurance or self-insurance, primary or excess, available to the CITY or any employee or agent of the CITY. Coverage shall not be limited to the vicarious liability or supervisory role of any additional insured. Coverage shall contain no contractors' limitation endorsement. There shall be no endorsement or modification limiting the scope of coverage for liability arising from pollution, explosion, collapse, underground property damage or employment -related practices. Such insurance shall not prohibit the DEVELOPER, and its employees or agents, from waiving the right of subrogation prior to a loss. The DEVELOPER waives its right of subrogation against the CITY. Unless otherwise approved by the CITY, the DEVELOPER's insurance shall be written by insurers authorized to do business in the State of California and with a minimum A.M. Best rating of "A, XV." Self-insurance shall not be considered to comply with these insurance specifications. The DEVELOPER agrees to require all contractors, subcontractors and other parties hired for the Improvements to purchase and maintain insurance of the types specified herein, naming as additional insureds all of the parties to this Security Agreement. The DEVELOPER shall, before commencing any work, obtain Worker's 2 53

Item 5.

Compensation Insurance in an amount required by law and, failing to do so, the CITY may procure such insurance at the cost of the DEVELOPER.

7. Comprehensive Commercial General and Automobile Liability Insurance. The DEVELOPER, before commencing any work shall, at its own expense, maintain comprehensive commercial general and automobile liability insurance issued by a California -admitted surety company with an A.M. Best rating of no less than "A, XV" for $2,000,000 per occurrence.

Coverage shall be for the entire duration of the permitted activities. Such liability insurance policy shall name, by endorsement, the City as an additional insured.

8. Indemnification. Notwithstanding the provisions of Government Code, Section 66474.9 or any other statutes of similar import, and to the full extent permitted by law, the DEVELOPER shall defend, indemnify and hold harmless the CITY, its employees, agents, officials and attorneys, from and against any liability, claims, suits, actions, arbitration proceedings, administrative proceedings, regulatory proceedings, losses, expenses or costs of any kind or nature, whether actual, alleged or threatened, reasonable attorneys' fees, court costs, interest, expert witness fees and any other costs or expenses of any kind whatsoever, without restriction or limitation, incurred in relation to, as a consequence of, or arising out of or in any way attributable actually, allegedly or impliedly, in whole or in part, to the Map, the Improvements, this Agreement, or any matter related to the same; provided, however, that the indemnification to be provided by DEVELOPER to the CITY pursuant to the terms of this paragraph shall not be applicable where the aforementioned liability, claim, suit or action is the result of the sole negligence or sole willful misconduct of the CITY.

9. Procedure for Release of Performance Bond Security. The security furnished by the DEVELOPER shall be released in whole or in part in the following manner:
a. Security shall be released upon final completion and acceptance of the Improvements. If the security furnished by the DEVELOPER is a documentary evidence of security, such as a surety bond, the CITY shall release the documentary evidence and return the original to the Surety upon final completion and acceptance of the Improvements.

In the event the CITY is unable to return the original documentary evidence to the Surety, the security shall be released by written notice sent by certified mail to the DEVELOPER and to the Surety within 30 days of the City's acceptance of the Improvements. The written notice shall contain a statement that the work for which security was furnished has been completed and accepted, a description of the Improvements, and the notarized signature of an authorized CITY official.

At such time as the DEVELOPER believes that the work for which the security was required is complete and makes payment of a partial exoneration fee of $350 to the CITY, the DEVELOPER shall notify the CITY in writing of the completed work, including a list of work completed. Upon receipt of the written notice, the CITY shall have 45 days to review and comment or approve the completion of the Improvements. If the CITY does not agree that all work has been completed in accordance with the plans and specifications for the Improvements, it shall supply a list of all remaining work to be completed. 3 54

Item 5.
c. Within 45 days of receipt of the CITY's list of remaining work, the DEVELOPER may then provide cost estimates for all remaining work for review and approval by the CITY.
d. Upon receipt of the cost estimates, the CITY shall then have 45 days to review, comment, and approve, modify or disapprove those cost estimates. The CITY shall not be required to engage in this process of partial release more than once between the start of work and the completion and acceptance of all work.
e. The DEVELOPER shall complete the works of Improvement until all remaining items are accepted by the CITY. Upon completion of the Improvements, the DEVELOPER shall be notified in writing by the CITY within 45 days and, within 45 days of the date of the CITY's notice, the release of any remaining performance security shall be made within 60 days of the recording of the Notice of Completion.

10. Procedure for Release of Payment Bond Security. Security securing the payment to the contractor, his or her subcontractors and persons furnishing labor, materials or equipment may, after passage of the time within which mechanic's liens and stop notices are required to be recorded and after acceptance of the Improvements, be reduced by Surety to an amount equal to the total claimed by all claimants for whom mechanic's liens and stop notices have been recorded and notice thereof given in writing to the CITY, and if no claims have been recorded, the security may be released in full.

11. Security for One -Year Warranty Period. DEVELOPER shall guarantee or warranty the work done pursuant to this Agreement for a period of one year after final formal acceptance of the SUBDIVISION by the City Council against any defective work or labor done or defective materials furnished. If within the warranty period any work or improvement or part of any work or improvement done, furnished, installed, or constructed by DEVELOPER fails to fulfill any of the requirements of this Agreement or the improvement plans and specifications referred to herein, DEVELOPER shall without delay and without any cost to CITY, repair or replace or reconstruct any defective or otherwise unsatisfactory part or parts of the work or structure. Should DEVELOPER fail to act promptly or in accordance with this requirement, DEVELOPER hereby authorizes CITY, at CITY's option, to perform the work twenty (20) days after mailing written notice of default to DEVELOPER and to DEVELOPER's surety, and agrees to pay the cost of such work by CITY. Should CITY determine that an urgency requires repairs or replacements to be made before DEVELOPER can be notified, CITY may, in its sole discretion, make the necessary repairs or replacement or perform the necessary work and DEVELOPER shall pay to CITY the cost of such repairs. If no claims have been made under the warranty bond during the warranty period, City shall release the warranty bond. The release procedures described in paragraphs 9 and 10 above shall not apply to any required guarantee and warranty period nor to the amount of the performance bond security deemed necessary by the CITY for the guarantee and warranty period nor to costs and reasonable expenses and fees, including reasonable attorneys' fees.

12. Binding Effect. This Security Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their legal representatives and their successors and assigns.

13. Authority to Execute. The DEVELOPER hereby warrants and represents to the CITY that the individual signing this Security Agreement on behalf of the DEVELOPER is vested with the unconditional authority to do so pursuant to, and in accordance with, all applicable legal requirements, and has the authority bind the DEVELOPER hereto. 4 55

Item 5.

14. No Assignment. The DEVELOPER may not assign this Security Agreement, or any part thereof, to another without the prior written consent of the CITY.

15. Attorneys' Fees. In the event of legal action to enforce or interpret this Agreement or any of its provisions, the prevailing party shall be entitled, in addition to any other form of relief, to recover its reasonable attorneys' fees and costs of suit.

16. Execution in Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but which together shall constitute a single agreement.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the dates listed below.

CITY OF BEAUMONT
By:

Mayor
Date:

DEVELOPER
RSI COMM U 1E5 -CALIF e' IA a a Dew,. i e limited liability company By:

Date;
Title:
5 Sean
Vice President
56 Item 5.

Bond Number: CMS0346632
Premium: $3,790.00
EXHIBIT "A"

PERFORMANCE BOND
WHEREAS, the City Council of the City of Beaumont, State of California, and RSI Communities -California LLC, a Delaware limited liability company (hereinafter designated as "Principal") have entered into Agreement To Provide Security For Street Improvements For Tract 27971-9, dated ' o ' o� , 20 L\ whereby Principal agrees to install and complete certain designated public improvements itemized and described on Tract Map, Parcel Map or Plot Plan No. , which is hereby incorporated herein and made a part hereof; and WHEREAS, Principal is required under the terms of the said agreement to furnish a bond for the faithful performance of said agreement.

NOW, THEREFORE, we, the Principal and RLI Insurance Company as Surety, are held and firmly bound unto the City of Beaumont (hereinafter called "City"), in the penal SUM Of One Million Ten Thousand Five Hundred Thirty Eight and 93/100 dollars ($ 1,010,538.93 ) lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, successors, executors and administrators, jointly and severally, firmly by these presents.

The condition of this obligation is such that if the above bounded Principal, his or its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and provisions in the said agreement and any alteration thereof made as therein provided, on his or their part to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless the City, its officers, agents and employees as therein stipulated, then this obligation shall become null and void; otherwise it shall be and remain in full force and effect.

As part of the obligation secured hereby and in addition to the face amount specified therefor, there shall be included costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by the City in successfully enforcing such obligation, all to be taxed as costs and included in any judgment therein rendered.

The Surety hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the agreement or to the work to be performed thereunder or the specifications accompanying the same shall in any way affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the agreement or to the work or to the specifications.
[signatures on following page]
6 57

Item 5.

IN WITNESS WHEREOF, this instrument has been duly executed by the Principal and Surety above named, on October 6, 2021.
(Seal)
RLI Insurance Company
Title: Attorney -In -Fact
Janina Monroe
Address: 19800 MacArthur Blvd. Ste. 1250
Irvine, CA 92612
(Seal)
RSI Communities -California LLC, a Delaware limited liability company By:

Sean yle
Name: Vice President
Title:

By:

Name:

Title:

Address:

ALL SIGNATURES MUST BE ACKNOWLEDGED BEFORE A NOTARY PUBLIC 7 Item 5.

ALL- PURPOSE

CERTIFICATE OF ACKNOWLEDGMENT
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

State of California }
County of Orange
}
OCT 0 6 2021 M. Barreras, Notary before me, Public
,Here insert rare and title re the after)
personally appeared
who proved to me on the basis of satisfactory evidence to be the persons whose names) ishm subscribed to the within instrument and acknowledged to me that btktshe/ter executed the same in kis/her/their authorized capacitylim}c and that by kiether/thek signature $ on the instrument the person*, or the entity upon behalf of which the person) acted, executed the instrument.

Janina Monroe
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.
a ty ' u lc Signature

ADDITIONAL OPTIONAL INFORMATION

DESCRIPTION OF THE ATTACHED DOCUMENT
(Title or description of attached document)
(Tile or desolption arf attached document continued)
Number of Pages Document Date

CAPACITY CLAIMED BY THE SIGNER
❑ Individual (s)
O Corporate Officer
(Title)
❑ Partner(s)
RI Attorney -in -Fact
❑ Trustee(s)
❑ Other
2015'Versio^ YAW. Notar,•CIass es.GOr7i 800-i3?' -9665
M. BARRERAS
Notary Public - California
Orange County
Commission # 2217716
^ ' My Comm. Expires Nov 5, 2021
(Notary Public Seal)
•

INSTRUCTIONS FOR COMPLETING THIS FORM
Thisforrn complies with current C.altibrnia statutes regarding nnwry )carding and. if needed. Would he completed and attached to the document. Acknnhvedgems from other states may be completed for documents being sent to that state so long as the [cording does not require the Caltfornta notary ro violate California notary lane. • State and Cotmry information must he the State and County where the document signer(s) personally appeared before thc notary public for acknowledgment. • Date of notarization must be the date that the signet(s) personally appeared which must also be the same date the acknowledgment is completed. • The notary public must print his or her name as it appears within his nr her commission followed by a comma and then your title (notary public). • Print the name(s) of document signer(s) who personally appear at the time of notarization.
• Indicate thc correct singular or plural roans by eiossing off incorrect fortis (ix. heishetth r is lase) or circling the correct forms. Failure to correctly indicate this information may lead to rejection of doetmment stoppling. • The notary seal impression must be clear and photographically reproducible.

Inpression must not cover text or lines. if seal impression smudges, re -seal if a sufficient area permits, otherwise complete a different acknowledgment form. • Signature of the notary public mint match )lie siglatule on Ilk with the oft t e of the county clerk.
4* Additional information is not required but could help to ensure this acknowledgment is not misused or attachod to a different document. r.+ Indicate title or type of attached document. number of pages and date. t hidicate the eapaciry claimed by the signer. If the claimed capacity is a corporate officer, indicate the title (i.e. CEO, CFO, Secretary). • Securely attach this docuruentto the signed document with a staple 59 POWER OF ATTORNEY
Item 5.

RLI Insurance Company
Contractors Bonding and Insurance Company
9025 N. Lindbergh Dr. Peoria, IL 61615
Phone: 800-645-2402
Know All Men by These Presents:

That this Power of Attorney is not valid or in effect unless attached to the bond which it authorizes executed, but may be detached by the approving officer if desired.

That RLI Insurance Company and/or Contractors Bonding and Insurance Company, each an Illinois corporation, (separately and together, the "Company") do hereby make, constitute and appoint:

Paul Boucher, Janina Monroe, Dennis Langer, Michelle Haase, Timothy Noonan. Adriana Valenzuela, Jennifer Ochs. Martha Barreras. jointly or severally
in the City of Los Angeles , State of California its true and lawful Agent(s) and Attorney(s) in Fact, with full power and authority hereby conferred, to sign, execute, acknowledge and deliver for and on its behalf as Surety, in general, any and all bonds and undertakings in an amount not to exceed Twenty Five Million Dollars $25.000,000.00 ) for any single obligation.

The acknowledgment and execution of such bond by the said Attorney in Fact shall be as binding upon the Company as if such bond had been executed and acknowledged by the regularly elected officers of the Company.

RLI Insurance Company and/or Contractors Bonding and Insurance Company, as applicable, have each further certified that the following is a true and exact copy of a Resolution adopted by the Board of Directors of each such corporation, and is now in force, to -wit:
"All bonds, policies, undertakings, Powers of Attorney or other obligations of the corporation shall be executed in the corporate name of the Company by the President, Secretary, any Assistant Secretary, Treasurer, or any Vice President, or by such other officers as the Board of Directors may authorize. The President, any Vice President, Secretary, any Assistant Secretary, or the Treasurer may appoint Attorneys in Fact or Agents who shall have authority to issue bonds, policies or undertakings in the name of the Company. The corporate seal is not necessary for the validity of any bonds, policies, undertakings, Powers of Attorney or other obligations of the corporation. The signature of any such officer and the corporate seal may be printed by facsimile." IN WITNESS WHEREOF, the RLI Insurance Company and/or Contractors Bonding and Insurance Company, as caused these presents to be executed by its respective Vice President with its corporate seal affixed this May , 2020 .

State of Illinois
County of Peoria
I SS
On this 14th day of May , 2020 , before me, a Notary Public, personally appeared Barton W. Davis , who being by me duly sworn, acknowledged that he signed the above Power of Attorney as the aforesaid officer of the RLI Insurance Company and/or Contractors Bonding and Insurance Company and acknowledged said instrument to be the voluntary act and deed of said corporation.

By:

Catherine D. Glover
CATHERINE D. GLOVER

OFFICIAL REAL
Notary Public . State of WarMy Commission Expires
Merdr24 2
Notary Public
RLI Insurance Company
Contractors Bonding and Insurance Company
By:

Barton W. Davis
applicable, have
14th day of

CERTIFICATE
Vice President
I, the undersigned officer of RLI Insurance Company and/or Contractors Bonding and Insurance Company, do hereby certify that the attached Power of Attorney is in full force and effect and is irrevocable; and furthermore, that the Resolution of the Company as set forth in the Power of Attorney, is now in force. In testimony whereof, I have hereunto set my hand and the seal of the RLI Insurance Company and/or Contractors Bonding and Insurance Company this 6th day of October , 2021 .

RLI Insurance Company
Contractors Bonding and Insurance Company
By:
&ir'c
Jeffrey gicleAl
Corporate Secretary
0415930020212
A005E
60 Item 5.

ALL-PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

STATE OF CALIFORNIA
) SS.

COUNTY OF ORANGE )
On October 7, 2021 before me, Faith M. Domotor, Notary Public, Date
personally appeared Sean Doyle , who proved
Insert Name and Title of Officer
Name(s) of Signer(s)
to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

FAITH M. DOMOTOR
Notary Public - California
., .� Orange County
Commission # 2327202
My Comm. Expires May 29, 2024
(Signature of Notary Public) Place Notary Seal Above
■

Item 5.

Bond Number: CMS0346632
Premium: included in performance bond
EXHIBIT "B"

PAYMENT BOND
WHEREAS, the City Council of the City of Beaumont, State of California, and RSI Communities -California LLC, a Delaware limited liability company (hereafter designated as "the Principal") have entered into Agreement To Provide Security For Street Improvements For Tract 27971-9, dated \ o , 20 L1, whereby Principal agrees to install and complete certain designated public improvements which is hereby incorporated herein and made a part hereof; and WHEREAS, under the terms of the said agreement, the Principal is required before entering upon the performance of the work, to file a good and sufficient payment bond with the City of Beaumont to secure the claims to which reference is made in Title 3 (commencing with Section 9000, et seq.) of Part 6 of Division 4 of the Civil Code of the State of California.

NOW, THEREFORE, the Principal and the undersigned as corporate surety, are held firmly bound unto the City of Beaumont and all contractors, subcontractors, laborers, materialmen, and other persons employed in the performance of the said agreement and referred to at Title 3 (commencing with Section 9000, et seq.) of Part 6 of Division 4 of the Civil Code in the sum of°ne "''ii'°" Ten Thnusend Five dollars Hundred Thirty Eight and 93/100
($ 1,010,538.93 ), for materials furnished or labor thereon of any kind, or for amounts due under the Unemployment Insurance Act with respect to this work or labor, that the Surety will pay the same in an amount not exceeding the amount hereinabove set forth, and also in case suit is brought upon this bond, will pay, in addition to the face amount thereof, costs and reasonable expenses and fees, including reasonable attorney§ fees, incurred by the City in successfully enforcing this obligation, to be awarded and fixed by the court, and to be taxed as costs and to be included in the judgment therein rendered.

It is hereby expressly stipulated and agreed that this bond shall inure to the benefit of any and all persons, companies, and corporations entitled to file claims under Title 3 (commencing with Section 9000, et seq.) of Part 6 of Division 4 of the Civil Code, so as to give a right of action to them or their assigns in any suit brought upon this bond.

Should the condition of this bond be fully performed, then this obligation shall become null and void, otherwise it shall be and remain in full force and effect.

The Surety hereby stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the agreement or the specifications accompanying the same shall in any manner affect its obligations on this bond, and it does hereby waive notice of any such change, extension, alteration, or addition.
[signatures on following page]
8 62

Item 5.

IN WITNESS WHEREOF, this instrument has been duly executed by the Principal and Surety above named, on October 6, 2021.
(Seal)
RLI Insurance Company
Title: Attorney -In -Fact
Address: 19800 MacArthur Blvd. Ste. 1250
Irvine, CA 92612
(Seal)
RSI Communities -California LLC, a Delaware limited liability company By:

Sean
Name: Vice President
Title:

Bv•
Name:

Title:

Address:

ALL SIGNATURES MUST BE ACKNOWLEDGED BEFORE A NOTARY PUBLIC 9 Item 5.

ALL- PURPOSE

State of California }
County of Orange
On OCT 0 6 2021 before me,
personally appeared
who proved to me on the basis of satisfactory evidence to be the persons whose names) is/ subscribed to the within instrument and acknowledged to me that In/she/ter executed the same in kieJher/tUeir authorized capacitygesk and that by 'de(her/bed signature(e) on the instrument the person*, or the entity upon behalf of which the person(e) acted, executed the instrument.
}
M. Barreras, Notary Public
;}Here insert name an title 01 the nt` cerl
Janina Monroe
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

J
•
tary PGbird Signature
(Notary Public Seal)

ADDITIONAL OPTIONAL INFORMATION

DESCRIPTION OF THE ATTACHED DOCUMENT
(Title or description of attached document)
(Title or description of attached document continued)
Number of Pages Document Date

CAPACITY CLAIMED BY THE SIGNER
❑ Individual (s)
O Corporate Officer
(Title)
❑ Partner(s)
® Attorney -in -Fact
❑ Trustee(s)
❑ Other
2015 Versio www.N ol aryCiast.es.00i" 8D0-873-pb55
M. EARRERAS
Notary Public - California
Orange County
Commission 112217716
My Cornet. Expires Nov 5, 2021
a
INSTRUCTIONS FOR C()MPL.ETING'1'HIS FORM
This form complies with Convent Caltfn nier marines regarding nrirerr Wording and, if needed should he completed and attached to the dactrment..4chnolwedgents from other states may be completed for documents being sent w that stare so long as the wording ding does not require the California nanny to violate California notarp lair. • State and County information must he the State and County where the document signer(s) personally appeared hcforc thc notary public for acknowledgment. • Date of notarization nmst be the date that the signer(s) personally appeared which must also be the same date the acknowledgment is completed. • The notary public must print his or her name as it appears within his or her commission followed by a comma and then your title (notary public). • Print the name(s) of document signers) who personally appear at the time of notarization.
• Indicate the curreet singular or plural roues by crossing off incorrect forms (i.e. )he she lltz� , is kxe) a circling the cotreet forms_ Faihtre to correctly indicate this information may lead to trajection of document rocorriing, • The notary serf impression must be clear and photographically reproducible. impression must not cover text or lines. if seal impression smudges, re -seal if a sufficient area permits, otherwise complete a different acknowledgment fonn. • Signature of the notary public: mncl match the signature um Gle with The office of the county clerk.
{r Additional information is not required but could help to ensure this acknowledgment is not misused orattachod to a different document. { Indicate title or type of attached document. number of pules and date. h Indicate the capacity claimed by the signer If the claimed capacity is a corporate officer, indicate thc title (i.e. CEO CFO, St:errary), • Secwely attach this document to the signed document with a staple. 64 65
Item 5.

66 Item 5.

TRACT NO. 27971-7HEARTLAND PARKWAY NORTHTRACT NO. 27971-9TRACT NO. 27971-10SAN TIMOTEO CREEKTRACT NO. 27971-1TRACT NO. 27971-8TRACT NO. 27971-4HEARTPARKWAYSOUTHLANDTRACT NO. 27971-6TRACT NO. 27971-3TRACT NO. 27971-2TRACT NO. 27971-5TRACT NO. 27971-11TRACT NO. 27971-12PARKWAYS O
U
T

HHEARTLAND CO
L
U
M
B
U
S

C
O
U
R
T
MON
R
O
E

C
O
U
R
T
CANFI
E
L
D

C
O
U
R
T
SAN
T
A

F
E

C
O
U
R
T
WIN
C
H
E
S
T
E
R

P
L
A
C
E
LITTL
E

R
O
C
K

P
L
A
C
E

HARRISBURG PLACE

MONTGOMERY PLACE

HAMILTON PLACELANSING STREETTOPEKA WAYALBANY LANEKIM
B
A
L
L

C
O
U
R

THOPEWELL TRAILH
A
R
T
F
O
R
D

L
A
N
E
CA
R
S
O
N

W
A
Y
A
M
H
E
R
S
T

W
A
Y
SP
R
I
N
G
F
I
E
L
D

W
A
Y
RI
C
H
M
O
N
D
W
A
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RALEIGH STREET CUMBERLAND WAYTACOMA COURTVANDERBILT WAYGOLDEN GATE WAYPLACE B
A
L
T
I
M
O
R
E
W
A
Y

POWELL DENVERCOURTHOMESTEAD WAY

VICTORIA PLACE
T
A
L
L
A
H
A
S
S
E
E
W
A
Y
WAY
BISM
A
R
K
WAY

HOPEWELL

PROVIDENCE COURTBELLINGHAM COURTDENVER COURTSALEM COURTPOTRERO BOULEVARD

CONCORD PLACE
CLE
V
E
L
A
N
D

P
L
A
C
E
AUS
T
I
N

P
L
A
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E
MADI
S
O
N

P
L
A
C
E
STO
N
E
W
A
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L

P
L
A
C
E
CLI
F
T
O
N

P
L
A
C
E
BLU
F
F

S
T
R
E
E
T

MELON PLACE

RAINER PLACE
CHARLSTON PLACEMARYLAND PLACEPLEASANT STREETBRISTOL PLACE PEACOCK COURTADMIRAL WAYTRAIL HOPEWELLPARK SITEPARCEL 14PARK SITEPARCEL 19PARK SITEPARCEL 19PARK SITEPARCEL 20COMMERCIALPARCEL 13PARCEL 17LOCATION MAP1PRIVATE STREET IMPROVEMENT PLANSTRACT NO. 27971-9TITLE SHEET - LOCATION MAPVICINITY MAP - GENERAL NOTESKnow what'sbelow.before you dig.CallR735 E. CARNEGIE DR., #280SAN BERNARDINO, CA 92405909.335-6120stantec.comSITE LOCATIONN9/8/202133789/8/20219/13/20219/13/202109/20/202167Item 5.

101
100
99 98
97 96
95 94
93 92
91 90
89 88
87 86
85 84
83 82
81 80
79 78
77 76
75 74
73 72
71 70
69 68
67 66
65 64
63 62
61 60
59 58
57 56
55 54
53 52
50 49
48 47
46 45
44 43
42 41
40 39
38 37
36 35
34 33
32 31
30 29
28 27
26 25
24 23
22 21
20 19
18 17
16 15
14 1312111098
7654321

TRACT BOUNDARYTRA
C
T

B
O
U
N
D
A
R

Y TRACT BOUNDARYTRACT BOU
N
D
A
R
Y

SANTA FE COURTWINCHESTER PLACELITTLE ROCK PLACETO
P
E
K
A

W
A
Y

ALBANY LANE

HEARTLAND PAR
K
W
A
Y

N
O
R
T
H
TRACT NO. 27971-7TRACT NO. 27971-10SHEET 3SHEET 4SHEET 5SHEET 6 SHE
E
T

6 TRA
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B
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D
A
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51 102
LIN
E
A
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P
A
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TRA
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2 7
9 7
1 -
4 TRA
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2 7
9 7
1 -
6 HARRISBURG PLACELANSING STRE
E
T

CANFIELD COURTPAR
C
E
L

M
A
P

N
O
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3488
0 PAR
C
E
L

1 9
Know what's below.
before you dig.Call
R
735 E. CARNEGIE DR., #280
SAN BERNARDINO, CA 92405
909.335-6120 stantec.com
2 CONSTRUCTION NOTES, QUANTITIES,

INDEX MAP, & TYPICAL SECTIONS
N

ALBANY LANE, SANTA FE COURT,
MODIFIED RIVERSIDE COUNTY STD. 106, SECTION A

WINCHESTER PLACE, LITTLE ROCK PLACE, TOPEKA WAY
TYPICAL 56' SECTION

UNDERGROUND

UTILITY LOCATIONS
AC PAVEMENT MATCH AND OVERLAY22
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68 Item 5.

1 7475767778
79 80
81 82
83 8586
87 88
89 90
91 92
93 94 95 96
97 98 99 100

ALBANY L
A
N
ELINEAR PARK102

HEARTLAN
D

P
A
R
K
W
A
Y

N
O
R
T
H
101HEARTLAN
D

P
A
R
K
W
A
Y

N
O
R
T
H
84 PROFILE SCALE:

HORIZ: 1"=40'
VERT: 1"=4'
Know what's below.
before you dig.Call
R
735 E. CARNEGIE DR., #280
SAN BERNARDINO, CA 92405
909.335-6120 stantec.com

SANTA FE COURT
11+0010+00 13+0012+00 15+0014+00 17+0016+00
19+00
18+00POINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICAL 20+00

PROPOSED
T.C. @ LEFT

PROPOSED
F.S. @ C.L.

PROPOSED
T.C. @ RIGHT
2385
RIGHT
2385
C.L.
2385
LEFT
2355
RIGHT
2355
C.L.
2355
LEFT

SANTA FE COURT
3 EXIST. GROUND
@ C.L.

EXIST. GROUND
@ C.L.EXIST. GROUND
@ C.L.

PROPOSED
T.C. @ LEFT

PROPOSED
F.S. @ C.L.

PROPOSED
T.C. @ RIGHT

PROPOSED
F.S. @ C.L.

PROPOSED
T.C. @ LEFT
I
D
E
N
T
I
C
A
L
P
O
I
N
T
S
IDENT

ICALPOINTS
NEXIST. GROUND
@ C.L.

EXIST. GROUND
@ C.L.PARCEL 19PARCEL MAPNO. 34880SEE SHEET 6 FOR

CURB RETURN
DATA
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69 Item 5.

70 71
67 66
65 64626361
60 59 58 57
56 51 50 47 46 7
6 69 72 7368
55 54
53 52
49 48
5 4

LINEAR PARKTOP
E
K
A

W
A
Y

ALBANY LANE

ALBANY LANE
PROFILE SCALE:

HORIZ: 1"=40'
VERT: 1"=4'
Know what's below.
before you dig.Call
R
735 E. CARNEGIE DR., #280
SAN BERNARDINO, CA 92405
909.335-6120 stantec.com

WINCHESTER PLACE
4 11+0010+00 13+0012+00 15+0014+00 17+0016+00 19+0018+00POINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICAL 2400 RIGHT
2400
C.L.
2400
LEFT

PROPOSED
T.C. @ LEFT

PROPOSED
F.S. @ C.L.

PROPOSED
T.C. @ RIGHT
2360
RIGHT
2360
C.L.
2360
LEFT

WINCHESTER PLACE
EXIST. GROUND
@ C.L.EXIST. GROUND
@ C.L.

EXIST. GROUND
@ C.L.NPROPOSED
T.C. @ RIGHT

PROPOSED
T.C. @ RIGHT

PROPOSED
T.C. @ LEFT

PROPOSED
F.S. @ C.L.

IDENTICAL
POINTS

IDENTICAL
POINTS
SEE SHEET 6 FOR

CURB RETURN
DATA
PARCEL 19PARCEL MAPNO. 34880PROPOSED
T.C. @ LEFT
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70 Item 5.

39 38
37 40 41 42 43 44 45
11 12
14 15
161718192021
22 23
24252627
28 29
30 31 32
34 35
36 ALBANY LANE
TOP
E
K
A

W
A
Y
10 33
ALBANY LANEPARCEL 19PARCEL MAPNO. 34880PROFILE SCALE:

HORIZ: 1"=40'
VERT: 1"=4'
Know what's below.
before you dig.Call
R
735 E. CARNEGIE DR., #280
SAN BERNARDINO, CA 92405
909.335-6120 stantec.com

LITTLE ROCK PLACE
5 11+0010+00 15+0012+00 17+0016+00 19+0018+00POINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICAL13+00 14+00 20+00 21+00 2420
RIGHT
2420
C.L.
2420
LEFT

PROPOSED
F.S. @ C.L.

PROPOSED
T.C. @ RIGHT

PROPOSED
T.C. @ LEFT
2370
RIGHT
2370
C.L.
2370
LEFT

LITTLE ROCK PLACE
P
O
I
N
T
S
I
D
E
N
T
I
C
A
L
EXIST.

GROUND @ C.L.

EXIST. GROUND
@ C.L.

EXIST. GROUND
@ C.L.NPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALLINEAR PARKPROPOSED T.C. @ LEFT

PROPOSED
T.C. @ LEFT

PROPOSED
T.C. @ RIGHT

PROPOSED
F.S. @ C.L.

SEE SHEET 6 FOR

CURB RETURN
DATA
SEE SHEET 6 FOR

CURB RETURN
DATA

PROPOSED
T.C. @ RIGHT

PROPOSED
F.S. @ C.L.
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71 Item 5.

21 3 4 5 6 7 8 9 10 11 12 13
1445467374
97 98
99 100

SANTA FE COURT
WINCHESTER PLACE LITTLE ROCK PLACE 17+56.45 MATCHLINETRACT 27971-10 SEE SHEET 1017+53.11 MATCHLINESANTA FE COURT102 53 37 54 36
65 66
67 WINCHESTER PLACE

LITTLE ROCK PLACE

LITTLE RO
C
K

P
L

WINCHESTER PLACE
PROFILE SCALE:

HORIZ: 1"=40'
VERT: 1"=4'
Know what's below.
before you dig.Call
R
735 E. CARNEGIE DR., #280
SAN BERNARDINO, CA 92405
909.335-6120 stantec.com
6 10+00 12+0011+00 14+0013+00 16+0015+00 18+0017+00
2355
RIGHT
2355
C.L.
2355
LEFT
2385
RIGHT
2385
C.L.
2385
LEFT

TOPEKA WAY

ALBANY LANE
10+00 12+0011+00 13+0017+56.45 MATCHLINE 17+53.11 MATCHLINETRACT 27971-10 - SEE SHEET 10 2390 RIGHT
2390
C.L.
2390
LEFT
2355
RIGHT
2355
C.L.
2355
LEFT

ALBANY LANE

TOPEKA WAY

PROPOSED
F.S. @ C.L.

EXIST. GROUND
@ C.L.

N
N

PROPOSED
F.S. @ C.L.

PROPOSED
T.C. @ LEFT

PROPOSED
T.C. @ RIGHT

PROPOSED
T.C. @ LEFT
EXIST. GROUND
@ C.L.

PROPOSED
T.C. @ RIGHT POINTSIDENTICALPOINTSIDENTICALPOINTSIDENTICALPROPOSED T.C. @ RIGHT

PROPOSED
F.S. @ C.L.
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72 Item 5.

100
99 98
97 96
95 94
93 92
91 90
89 88
87 86
85 84
83 82
81 80
79 78
77 76
75 74
73 72
71 70
69 68
67 66
65 64
63 62
61 60
59 58
57 56
55 54
53 52
51 50
49 48
47 46
45 44
43 42
41 40
39 38
37 36
35 34
33 32
31 30
29 28
27 26
25 24
23 22
21 20
19 18
17 16
15 14
1312111098
7654321
TR. NO. 27971-10TR. NO. 27971-7TR.

N
O
.

2 7
9 7
1 -
4 TR. NO. 2797
1 -
6SANTA FE COURTWINCHESTER PLACELITTLE ROCK PLACETO
P
E
K
A

W
A
Y

ALBANY LANE

HEARTLAND PAR
K
W
A
Y

N
O
R
T
H
S T O P101
102
LIN
E
A
R

P
A
R
K
PAR
C
E
L

1 9
PAR
C
E
L

M
A
P

N
O
.
3488
0 S T O PS T O P
S T O PS T O PS T O P7

SIGNAGE AND STRIPING

BUILDER RESPONSIBILITY
Know what's below.
before you dig.Call
R
735 E. CARNEGIE DR., #280
SAN BERNARDINO, CA 92405
909.335-6120 stantec.com
N
9/8/2021
3378
9/13/2021
9/13/2021
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73 Item 5.

8 DETAILS

CURB RAMP DETAILS
Know what's below.
before you dig.Call
R
735 E. CARNEGIE DR., #280
SAN BERNARDINO, CA 92405
909.335-6120 stantec.com
9/8/2021
3378
9/13/2021
9/13/2021
09/20/2021
74 Item 5.

Approved
NV5
Padma Asam
09/03/2021
75 Item 5.

V:\2042\active\2042495810\design\cost\tract-9\Tr. 27971-9 Total-City Bond Est.-170721.xls Page 2 PROJECT:DATE:24-Aug-17
QTY.UNIT ITEM UNIT COST AMOUNT
Roadway Excavation
2,156 C.Y.

1. Projects with a grading plan area x 0.50'
(hinge point to hinge point)(134,571 sf)20.00$ 43,120$

2. Projects without a grading plan (road
area and side slopes to daylight
Cut (C) = Fill (f) =
C.Y. (c or f)(a.) Excavate and Fill 0.40$ -$ C.Y. (f - c)(b.) Excavate and Export 1.10$ -$ (c.) Import and Fill 2.80$ -$
If balance, provide (a.) only, either cut or fill
If export, provide (a.) & (b.), a = fill, b = cut - fill If import, provide (a. ) & (c.), a = cut, c= fill - cut (Unit costs for (a.), (b.) & (c.) are 20% of acrual
costs to assure that work will be corrected to
eliminate hazardous conditions.)
-$
S.F.Remove A.C. Pavement 1.45$ -$
L.F.Remove Curb and Gutter 18.00$ -$
L.F.Remove A.C. Dike 3.00$ -$
S.F.Remove Sidewalk 3.00$ -$
110 L.F.Sawcut & Remove Exist. A.C. Pavement 2.45$ 270$ -$
-$
-$
-$
-$
-$
-$
-$
-$
-$

STREET IMPROVEMENTS

CITY OF BEAUMONT PUBLIC WORKS DEPARTMENT

IMPROVEMENT REQUIREMENT WORKSHEET
Tract 27971-9 Street, Storm Drain, and Sewer
76 Item 5.

V:\2042\active\2042495810\design\cost\tract-9\Tr. 27971-9 Total-City Bond Est.-170721.xls 8/24/2017 PROJECT:DATE:24-Aug-17
QTY.UNIT ITEM UNIT COST AMOUNT
L.F.Remove Chain Link Fence 7.50$ -$ EA.Remove Barricade $ 200.00 -$
2,422 TON
Asphalt Concrete - 144 lbs/cu. Ft.
(134,571 OnSite SF @ 3")90.00$ 217,980$ 2,700 C.Y.Aggregate Base Class II (134,571 OnSite SF @ 6.50")50.00$ 135,000$ 5 TON
Asphalt Emulsion (Fog Seal/Paint Binder)
(1 ton = 240 gals) (134,571 OnSite SF)600.00$ 3,000$ apply at 0.05 + 0.03 = 0.08 gal/SY -$
S.F AC overlay (min. 0.10')
If export, provide (a) & (b), a=fill, b=cut-fill
If import, provide (a)&(C), a=cut, c=fill-cut
(Unit costs for (a), (b) & (C) are 20% of
actual costs to assure that work will be
corrected to eliminate hazardous conditions.)0.90$ -$ S.F.Remove A.C. Pavement 1.45$ -$
L.F.Curb and Gutter (Wedge Curb)12.00$ -$ 7,860 L.F.Curb and Gutter (Type A-6)15.00$ 117,900$ L.F.Curb and Gutter (Type A-8)17.00$ -$ L.F.Type "C" Curb 12.00$ -$
L.F.Type "D" Curb 15.00$ -$
L.F.A.C. Dike (6") (incl. material & labor)10.00$ -$ L.F.A.C. Dike (8") (incl. Material & labor)15.00$ -$ S.F.P.C.C. Cross Gutter and Spandrels 10.00$ -$ 47,160 S.F.P.C.C. Sidewalk 6.00$ 282,960$ SF P.C.C. Drive Approach 8.00$ -$
20 EA.Handicapped Access Ramp 2,000.00$ 40,000$ EA.P.C.C. Drive Approach 12.00$ -$
(individual lot driveway approach per finished grading plan) S.F.Cold Plane & Overlay Exist. A.C. Paving 4.00$ -$ -$
-$
-$

CITY OF BEAUMONT PUBLIC WORKS DEPARTMENT

IMPROVEMENT REQUIREMENT WORKSHEET
STREET IMPROVEMENTS (Cont'd.)
Tract 27971-9 Street, Storm Drain, and Sewer
77 Item 5.

8/24/2017
PROJECT:DATE:24-Aug-17
QTY.UNIT ITEM UNIT COST AMOUNT
7 EA.Street Name Sign 400.00$ 2,800$ EA.

Delineators-per Caltrans Std. A73C,
Class 1, Type F 40.00$ -$
EA.

Object Markers - Modified Type F
Delineators, Riverside County 45.00$ -$ L.F.Barricades 100.00$ -$
L.F.

Utility Trench, one side (Edison, Telephone, Cable)
(Total length of streets)10.00$ -$
L.F.Chain Link Fence (6')80.00$ -$
L.F.Remove Fence 4.00$ -$
EA.Remove Power Pole 1,200.00$ -$
6 EA.Street Lights (including conduit)5,000.00$ 30,000$ EA.Street Trees (15 gallon)150.00$ -$
L.S.Landscape and Irrigation -$ -$ EA.Concrete Bulkhead 200.00$ -$
C.Y.Structural Reinforced Concrete 400.00$ -$ EA.Slope Anchors for Pipes 300.00$ -$
L.F.Cut Off Wall (Std. 2')5.50$ -$
EA.A.C. Overside Drain 800.00$ -$
EA.Under Sidewalk Drain 2,000.00$ -$
S.F.Terrace Drains and Down Drains 6.50$ -$ S.F.Interceptor Drains 6.50$ -$
2 EA.Gutter Depression for Curb Opening Catchbasin 1,500.00$ 3,000$ EA.Access Driveway for Storm Drain at Cul-de-Sac 640.00$ -$ 6 EA."STOP" Pavement Marking 200.00$ 1,200$ L.F.Limit Line 2.00$ -$
6 EA.RI "STOP SIGN"250.00$ 1,500$
EA.W53 "NOT A THROUGH STREET" Sign 250.00$ -$ -$
-$
-$
-$

CITY OF BEAUMONT PUBLIC WORKS DEPARTMENT

IMPROVEMENT REQUIREMENT WORKSHEET
STREET IMPROVEMENTS (Cont'd.)
Tract 27971-9 Street, Storm Drain, and Sewer
78 Item 5.

8/24/2017
PROJECT:DATE:24-Aug-17
QTY.UNIT ITEM UNIT COST AMOUNT
C.Y.Rip Rap (1/4 Ton) Method B 40.00$ -$ C.Y.Rip Rap (1/2 Ton) Method B 45.00$ -$ C.Y.Rip Rap (1 Ton) Method B 50.00$ -$ C.Y.Rip Rap (2 Ton) Method B 55.00$ -$ C.Y.Grouted Rip Rap (1/4 Ton) Method B 60.00$ -$ C.Y.Grouted Rip Rap (1/2 Ton) Method B 67.00$ -$ C.Y.Grouted Rip Rap (1Ton) Method B 75.00$ -$ C.Y.Grouted Rip Rap (2 Ton) Method B 80.00$ -$ L.F.18" R.C.P.113.00$ -$
L.F.24" R.C.P.140.00$ -$
L.F.30" R.C.P.150.00$ -$
L.F.36" R.C.P.155.00$ -$
L.F.42" R.C.P.160.00$ -$
L.F.48 " RCP 165.00$ -$
L.F.54" RCP 170.00$ -$
L.F.60" RCP 175.00$ -$
L.F.72" RCP 250.00$ -$

0.001 1.00$ -$
L.F. 1.00$ -$
EA.H.D.P.E. Clean Out 400.00$ -$
EA.Drain Basin 500.00$ -$
EA.Curb Outlet 3,000.00$ -$
EA.Fossil Filters 500.00$ -$
EA.18" C.M.P. Wye 500.00$ -$
EA.Riprap Headwall 1,000.00$ -$
EA.Concrete Collar 500.00$ -$
EA.Outlet Structure 10,000.00$ -$
EA.-$
-$
-$

CITY OF BEAUMONT PUBLIC WORKS DEPARTMENT

IMPROVEMENT REQUIREMENT WORKSHEET
STREET IMPROVEMENTS (Cont'd.)
Tract 27971-9 Street, Storm Drain, and Sewer
79 Item 5.

8/24/2017
PROJECT:DATE:24-Aug-17
QTY.UNIT ITEM UNIT COST AMOUNT
L.F.60" C.S.P.120.00$ -$
EA.Catch Basin W = 4'2,200.00$ -$
EA.Catch Basin W = 7'4,000.00$ -$
EA.Catch Basin W = 10'6,000.00$ -$
EA.Catch Basin W = 14'7,800.00$ -$
EA.Catch Basin W = 21'12,000.00$ -$
EA.Type IX Inlet 3,000.00$ -$
EA.Type X Inlet 3,000.00$ -$
EA.Junction Structure No. 1 3,000.00$ -$
EA.Junction Structure No. 2 3,000.00$ -$
EA.Junction Structure No. 6 3,700.00$ -$
EA.Transition Structure No. 1 12,500.00$ -$
EA.Transition Structure No. 3 2,700.00$ -$ EA.Manhole No. 1 2,700.00$ -$
EA.Manhole No. 2 3,300.00$ -$
EA.Manhole No. 3 2,700.00$ -$
EA.Manhole No. 4 5,000.00$ -$
EA.Adjust Water Valve (if no water plan)250.00$ -$ EA.Adjust MH to grade (if no sewer plan)600.00$ -$ EA.Headwall 5,000.00$ -$
Remove & Dispose of Interferring 30" Storm Drain
L.S.and 36" Riser 700.00$ -$
EA.Remove & Dispose of RCB Headwall & Wingwall 12,000.00$ -$ L.F.and Concrete Bulkhead 30.00$ -$
EA.Outlet Structure (Line A & B)7,000.00$ -$ EA.Remove Existing Headwall 1,500.00$ -$
-$
-$
-$
-$
-$

CITY OF BEAUMONT PUBLIC WORKS DEPARTMENT

IMPROVEMENT REQUIREMENT WORKSHEET
STREET IMPROVEMENTS (Cont'd.)
Tract 27971-9 Street, Storm Drain, and Sewer
80 Item 5.

8/24/2017
PROJECT:DATE:24-Aug-17
QTY.UNIT ITEM UNIT COST AMOUNT
EA.Water Quality Structure 5,000.00$ -$
LS Concrete Inlet Apron 11,000.00$ -$
LS Emergency Spillway 27,000.00$ -$
LS 84" Storm Drain Grate 8,500.00$ -$
SF 3' Wide V-Gutter (945 LF)7.00$ -$ -$
-$
-$
-$
-$
Subtotal:-$
A.Subtotal 878,730$
B. Contingency (15%)131,809$
C.Streets/Drainage Total (A + B)1,010,539$

CITY OF BEAUMONT PUBLIC WORKS DEPARTMENT

IMPROVEMENT REQUIREMENT WORKSHEET
STREET IMPROVEMENTS (Cont'd.)
************************************************************************************************************************************* Tract 27971-9 Street, Storm Drain, and Sewer
81 Item 5.

8/24/2017
PROJECT:DATE:24-Aug-17
Show quantities on this sheet only if project has a sewer plan. If no water plan, then show applicable quantities as part of street improvements.

QTY.UNIT ITEM UNIT COST AMOUNT
L.F.4" V.C.P. (45 Lots @ 25' Avg. Length & 5' for cleanout)15.00$ -$ L.F.4" P.V.C. Force Main & Fittings 26.00$ -$ L.F.8" V.C.P.30.00$ -$
L.F.10" V.C.P.35.00$ -$
L.F.12" V.C.P.40.00$ -$
L.F.15" V.C.P.50.00$ -$
17 EA.Standard or Terminus Manholes 2,500.00$ 42,500$ EA.Drop Manholes 4,000.00$ -$
EA.Cleanouts 500.00$ -$
EA.Sewer Y's 30.00$ -$
EA.Chimneys 400.00$ -$
17 EA.Adjust M.H. to grade 500.00$ 8,500$ L.F.Concrete Encasement 35.00$ -$
EA.4" P.V.C. Misc. Fittings 120.00$ -$
L.F.Sewer Pipe Sleeving 45.00$ -$
EA.Sewer Lift Station -$
61 EA.Backflow prevention device 400.00$ 24,400$ 2,870 L.F.4" P.V.C Sewer Lateral 17.00$ 48,790$ 3,610 L.F.8" P.V.C.35.00$ 126,350$ 1 L.F.8" P.V.C. Misc. Fittings and Plugs 200.00$ 200$ 1 EA.Remove 8" Plug 200.00$ 200$ -$
A.Subtotal 250,940$
B.Contingency (15% x A)37,641$
C.Sewer Total (A + B)288,581$

CITY OF BEAUMONT PUBLIC WORKS DEPARTMENT

IMPROVEMENT REQUIREMENT WORKSHEET

SEWER IMPROVEMENTS
************************************************************************************************************************************* Tract 27971-9 Street, Storm Drain, and Sewer
82 Item 5.

83 Item 5.

84 Item 5.

85 Item 5.

86 Item 5.

87 Item 5.

88 Item 5.

89 Item 5.

90 Item 5.

91 Item 5.

92 Item 5.

93 Item 5.

94 Item 5.

95 Item 5.

96 Item 5.

97 Item 5.

98 Item 5.

99 Item 5.

100
Item 5.

101
Item 5.

102
Item 5.

MH#27CO#1MH#16MH#19MH#22MH#10MH#11MH#12MH#14MH#13MH#15MH#21MH#20MH#4MH#5MH#3MH#26MH#6MH#7MH#8MH#9MH#17MH#18MH#23MH#24MH#25EX. MHMH#1MH#2RESIDENTIAL STREETTYPICAL SECTIONLEGENDVICINITY MAPSEWER STREET LATERALTYPE "A"SECONDARY ACCESS ROADTYPICAL SECTIONBASIS OF BEARINGS:NOTE:NOTE:BYENGINEERSEALDESIGN BY:DRAWN BY:CHECKED BY:SCALE:DATE:JOB NUMBER:CITY OF BEAUMONT, PUBLIC WORKS DEPARTMENTENGINEERING DIVISIONReviewed By:Recommendedfor Approval By:Approved By:Administrative EngineerFILE NO:S H E E TOF SHEETS550E. 6th StBeaumont, CA 92223TEL: (951) 769-8520 FAX: (951) 769-8526Date:Date:Date:AS NOTEDAUGUST 2021180214PSPSJDTMBAKERINTL.COM75410 Gerald Ford Dr. Ste:100Palm Desert, CA 92211Phone: (760) 346-7481 City Engineer/Director of Public WorksMARKDESCRIPTIONAPPR.DATECITYStaff EngineerTRACT 36307REVISED: 12/21/2021CIVILSTATE OF CALI FOR
N
IA

R EG ISTER
E
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ROFESSIONAL ENGINEERJOHN
D
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TANNER IIINo. 60132DATEJOHN D. TANNER IIIR.C.E. 60132 * EXP. 06/30/2212/21/202112/22/202112/22/202101/05/2022103Item 5.

BASIS OF BEARINGS:NOTE:NOTE:BYENGINEERSEALDESIGN BY:DRAWN BY:CHECKED BY:SCALE:DATE:JOB NUMBER:CITY OF BEAUMONT, PUBLIC WORKS DEPARTMENTENGINEERING DIVISIONReviewed By:Recommendedfor Approval By:Approved By:Administrative EngineerFILE NO:S H E E TOF SHEETS550E. 6th StBeaumont, CA 92223TEL: (951) 769-8520 FAX: (951) 769-8526Date:Date:Date:AS NOTEDAUGUST 2021180214PSPSJDTMBAKERINTL.COM75410 Gerald Ford Dr. Ste:100Palm Desert, CA 92211Phone: (760) 346-7481 City Engineer/Director of Public WorksMARKDESCRIPTIONAPPR.DATECITYStaff EngineerTRACT 36307REVISED: 12/21/2021CIVILSTATE OF CALI FOR
N
IA

R EG ISTER
E
D

ROFESSIONAL ENGINEERJOHN
D
.

TANNER IIINo. 60132DATEJOHN D. TANNER IIIR.C.E. 60132 * EXP. 06/30/2211+0012+0013+0014+0015+0016+0010+0011+0012+0013+0010+0012/21/202112/22/202112/22/202101/05/2022104Item 5.

R EG ISTER
E
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ROFESSIONAL ENGINEERJOHN
D
.

TANNER IIINo. 60132DATEJOHN D. TANNER IIIR.C.E. 60132 * EXP. 06/30/2211+0012+0013+0014+0015+0016+0017+0018+0010+00REVISED: 12/21/202112/21/202112/22/202112/22/202101/05/2022105Item 5.

R EG ISTER
E
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ROFESSIONAL ENGINEERJOHN
D
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TANNER IIINo. 60132DATEJOHN D. TANNER IIIR.C.E. 60132 * EXP. 06/30/2211+0012+0013+0014+0010+009+008+00REVISED: 12/21/202112/21/202112/22/202112/22/202101/05/2022106Item 5.

R EGISTERE
D

PROFESSIONAL ENGINEERJOHN
D
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TANNER IIINo. 60132DATEJOHN D. TANNER IIIR.C.E. 60132 * EXP. 06/30/2211+0012+0013+0014+0015+0010+0016+00REVISED: 12/21/202112/21/202112/22/202112/22/202101/05/2022107Item 5.

R EGISTERE
D

PROFESSIONAL ENGINEERJOHN
D
.

TANNER IIINo. 60132DATEJOHN D. TANNER IIIR.C.E. 60132 * EXP. 06/30/2211+0012+0013+0014+0015+0016+0017+0018+0019+0010+00REVISED: 12/21/202112/21/202112/22/202112/22/202101/05/2022108Item 5.

R EGISTERE
D

PROFESSIONAL ENGINEERJOHN
D
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TANNER IIINo. 60132DATEJOHN D. TANNER IIIR.C.E. 60132 * EXP. 06/30/2211+0012+0010+0011+0012+0013+0010+0012/21/202112/22/202112/22/202101/05/2022109Item 5.

R EGISTERE
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PROFESSIONAL ENGINEERJOHN
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TANNER IIINo. 60132DATEJOHN D. TANNER IIIR.C.E. 60132 * EXP. 06/30/2214+0015+0016+0017+0018+0013+0012/21/202112/22/202112/22/202101/05/2022110Item 5.

PROJECT NAME:

DATE:

PP, CUP NO.:BY:

IMPROVEMENTS FAITHFUL PERFORMANCE 100%
Streets/Drainage
Sewer
Total
Warranty Retension (22.5%)
Street/Drainage Plan Check Fees =
Sewer Plan Check Fees =
Street Inspection Fees =
Sewer Inspection Fees =
determining bonding, plan check and inspection costs.

Above amounts do include additional 20% for recordation prior to having signed plans

Above amounts do not x include additional 20% for recordation prior to having signed plans Engineer's Signature Date
Name typed or printed
FORM $ UNIT COSTS REVISED 09/06

1. Quantities to be taken from improvement plans, Unit costs to be as provided on "City of Beaumont Improvement Requirement Worksheet".

2. Show Bond Amounts to the nearest $500.

3. Engineer should be used.

CITY OF BEAUMONT PUBLIC WORKS DEPARTMENT

CONSTRUCTION COST WORKSHEET
Samuel Menache
Tournament Hills - Tract 36307 Sewer Improvements
19-Nov-21
LABOR & MATERIALS SECURITY 100%

Construction Costs)
-$
394,657.00$
determined to be too low in the opinion of the Design Engineer, the higher costs as provided by the Design John D. Tanner III
Civil Engineer's Stamp
*****PLEASE READ INSTRUCTIONS BELOW*****
For construction items not covered by "City of Beaumont Improvement Worksheet", Design Engineer is to provide his opinion of construction cost and use of that cost. If City of Beaumont Unit Costs are 394,657.00$
to construct the above project and the mathematical extensions using City's unit costs are accurate for Construction items and their quantities as shown on attached sheets are accurate for the improvements required

DESIGN ENGINEERS CALCULATIONS OF IMPROVEMENT BONDING COSTS -$
-$
9,866.43$
15,786.28$
88,797.83$
11/19/2021
10/8/202112/1/2021
Approved
NV5
12/09/2021
111
Item 5.

PROJECT:DATE: 11/19/2021
Show quantities on this sheet only if project has a sewer plan. If no water plan, then show applicable quantities as part of street improvements.

QTY. UNIT ITEM UNIT COST AMOUNT
4,092 L.F. 4" P.V.C. (124 Lots @ 28' Avg. Length & 5' for cleanout) 15.00$ 61,380$ L.F. 4" P.V.C. Force Main & Fittings 26.00$ -$ 4,625 L.F. 8" P.V.C.30.00$ 138,750$ L.F. 10" V.C.P.35.00$ -$
L.F. 12" V.C.P.40.00$ -$
L.F. 15" V.C.P.50.00$ -$
24 EA. Standard or Terminus Manholes 2,500.00$ 60,000$ 3 EA. Deep Manholes 4,000.00$ 12,000$ 125 EA. Cleanouts 500.00$ 62,500$ EA. Sewer Y's 25.00$ -$
EA. Chimneys 400.00$ -$
EA. Adjust M.H. to grade 500.00$ -$
L.F. Concrete Encasement 35.00$ -$
1 EA. Remove 8" Plug and join to exist. sewer 300.00$ 300$ L.F. Sewer Pipe Sleeving 36.00$ -$
1 EA. Core Drill & Connect 8" Sewer into Ex Manhole 1,500.00$ 1,500$ 27 EA. Backflow prevention device 250.00$ 6,750$ L.F. 12" P.V.C.40.00$ -$
LS Remove Existing Manhole and Sewer Line 20,000.00$ -$ A. Subtotal 343,180$
B. Contingency (15% x A)51,477$
C. Sewer Total (A + B)394,657$

CITY OF BEAUMONT PUBLIC WORKS DEPARTMENT

IMPROVEMENT REQUIREMENT WORKSHEET

SEWER IMPROVEMENTS
*************************************************************************************************************************************************************** Tournament Hills - Tract 36307 Sewer Improvements
11/19/2021
112
Item 5.

Staff Report

TO: City Council
FROM: Jennifer Ustation, Finance Director
DATE January 18, 2022
SUBJECT: FY2022 General Fund and Wastewater Budget to Actual through December 2021, and Second Quarter Investment Report and Certification

Background and Analysis:

City staff has updated the analysis of the General Fund and Wastewater Fund for FY2022 with results through December 2021.

General Fund Analysis:

 Four months of sales tax has been received and is trending higher than budget;  Increased building permit activity in comparison to prior years while reporting of other permitting revenues appear to be lower, mostly due to applying invoices directly to deposits;
 Low-rate market is continuing to keep interest earnings estimated lower t han budget, however, funds have been deposited with the trustee for investment with Public Trust. Will monitor results and report quarterly;  13 of 26 pay periods have been reported and costs are trending lower than budget;
 Recruitment costs are trending high;
 Utilities are trending high; and
 Contractual services are trending lower than budget. The first quarter fire service invoice has been paid and was $914,004.51.

The attached report (Attachment A) provides preliminary estimates reflecting the initial six months of FY2022. Estimates will be reviewed and revised as actual fiscal activity is recorded. Property tax is received in January and May of each year. Four months of sales tax has been received and has outperformed forecasts thus far. Building permit activity is also trending high however other permit activity will be decreased due to a change in deposit accounting. Investment income remains lower than budget and will be 113
Item 6.

closely monitored. Personnel costs are trending to have a savings; however, recruitment is trending high. On August 3, 2021, City Council approved a budget amendment for unspent prior year appropriations and reappropriated $214,799 for FY2022. This allows for $741,845 of available funds for City Council to appropriate throughout the year.

Wastewater Fund Analysis:

 Two of six utility billings recorded;
 Low-rate market continuing to keep interest earnings estimated lower than budget, will monitor continuing results;
 13 of 26 pay periods recorded and costs are trending lower than budget;  Fuel costs are trending higher than budget;
 Utilities are trending higher than budget; and
 One of two debt service payments have been recorded.

Based on year-end projections the Wastewater Fund is trending to have approximately $574,000 to be retained for utility reserves for FY2022. This is driven by savings in both personnel and operating costs and a slight increase of revenues.

FY2022 2nd Quarter Investment Report and Certification

Pursuant to the City’s Investment Policy approved on May 18, 2021, and in accordance with Government Code Section 53646(8)(1), the Quarterly Investment Report is included in this report. City staff has added investments held with the third -party trustees to the report for compliance with the investment policy and a Poole d Cash Report to complement the quarterly reports.

The significant transactions during the quarter were as follows:

 Wire transfer from Citibank to Trustee US Bank in the amount of $15,000,000 for investment within the portfolio managed by Public Trust Advisors, and

 LAIF interest for the quarter ended September 30, 2021, was credited to the City’s LAIF account in October in the amount of $45,437.24. In comparison, the interest earned in the same quarter for the previous year was $127,958.26 which is due to an interest rate decrease from .84% to .24%.

Fiscal Impact:
114
Item 6.

City staff estimates the cost to prepare this report to be $1,072.

Recommended Action:

Receive and file the attached reports.

Attachments:

A. General Fund Budget to Actual through December 2021
B. Wastewater Fund Budget to Actual through December 2021 C. Pooled Cash Investments Holding Report as of December 31, 2021 D. Pooled Cash Report as of December 31, 2021
E. Investment Certification for Quarter Ending December 31, 2021 F. Wilmington Trust Security Listing as of December 31, 2021 G. Public Trust Investment Report as of December 31, 2021

115
Item 6.

Budget Comparison ReportGeneral Fund Budget to Actual through December 2021Estimated Beginning Fund Balance:17.6M Parent Budget 2019‐2020YTD ActivityThrough Per 2020‐2021YTD ActivityThrough Per 2021‐2022YTD ActivityThrough Per 2021‐2022V3 FY2022 Estimate NotesCategory: 40 ‐ TAXES400 ‐ Real Property Taxes 1,546,664.86 1,948,016.49 1,958,435.29 6,516,588.00 6,516,588.00 403 ‐ Personal Property Taxes 235,787.70 210,630.22 207,936.32 277,822.00 236,232.00 409 ‐ Sales Taxes 1,967,724.51 2,701,167.22 3,882,578.33 6,926,638.00 7,992,630.00 Sales Tax higher than anticipated 420 ‐ Other Taxes 782,188.11 924,782.06 879,471.83 8,462,873.00 8,570,667.00 Total Category: 40 ‐ TAXES: 4,532,365.18 5,784,595.99 6,928,421.77 22,183,921.00 23,316,117.00 Category: 41 ‐ LICENSES430 ‐ Business Licenses 128,456.28 208,637.10 128,138.20 405,000.00 402,350.00 Total Category: 41 ‐ LICENSES: 128,456.28 208,637.10 128,138.20 405,000.00 402,350.00 Category: 42 ‐ PERMITS450 ‐ Building Permits 1,216,346.50 885,555.66 1,676,864.79 2,857,250.00 3,153,727.00 453 ‐ Inspections 98,753.05 187,800.70 25,000.00 376,200.00 113,520.00 456 ‐ Other Permits 226,416.39 281,031.96 320,663.23 746,575.00 641,326.00 515 ‐ Public Works‐ ‐ 2,039.98 ‐ 2,040.00 Total Category: 42 ‐ PERMITS: 1,541,515.94 1,354,388.32 2,024,568.00 3,980,025.00 3,910,613.00 Category: 43 ‐ FRANCHISE FEES406 ‐ Franchise Fees 6,747,833.31 1,222,949.47 1,694,124.31 3,111,474.00 3,033,112.00 Total Category: 43 ‐ FRANCHISE FEES: 6,747,833.31 1,222,949.47 1,694,124.31 3,111,474.00 3,033,112.00 Category: 45 ‐ INTERGOVERNMENTAL465 ‐ State‐ ‐ ‐ ‐ 470 ‐ Local 2,549.65 ‐ ‐ ‐ Total Category: 45 ‐ INTERGOVERNMENTAL: 2,549.65 ‐ ‐ ‐ Category: 47 ‐ CHARGES FOR SERVICE500 ‐ Sanitation 112,614.53 19,428.94 ‐ ‐ - 505 ‐ Animal Control 46,142.88 52,142.31 42,460.24 111,564.00 84,920.00 510 ‐ Community Development 2,534.00 1,982.00 1,906.00 6,135.00 3,812.00 515 ‐ Public Works 3,829.00 43,520.06 ‐ 15,500.00 5,500.00 525 ‐ Abatements 6,173.50 16,838.47 11,175.20 67,399.00 56,318.00 530 ‐ Public Safety 46,254.73 71,600.90 284,989.04 450,496.00 569,978.00 535 ‐ Facilities 65,680.74 44,893.68 107,947.47 131,020.00 215,894.00 540 ‐ Programs 53,737.00 500.00 7,216.00 18,750.00 14,432.00 545 ‐ Other 25,774.34 76,019.65 14,310.45 280,050.00 247,050.00 116Item 6.

Total Category: 47 ‐ CHARGES FOR SERVICE: 362,740.72 326,926.01 470,004.40 1,080,914.00 1,197,904.00 Category: 50 ‐ FINES AND FORFEITURES555 ‐ Vehicle 37,997.56 28,552.95 34,212.93 76,608.00 68,424.00 557 ‐ Other 19,532.88 6,587.60 22,323.36 52,195.00 53,575.00 Total Category: 50 ‐ FINES AND FORFEITURES: 57,530.44 35,140.55 56,536.29 128,803.00 121,999.00 Category: 53 ‐ COST RECOVERY465 ‐ State 24,854.02 ‐ 13,226.32 20,000.00 26,592.00 565 ‐ Other Income 292,247.92 102,732.89 281,649.96 432,500.00 542,335.00 Total Category: 53 ‐ COST RECOVERY: 317,101.94 102,732.89 294,876.28 452,500.00 568,927.00 Category: 54 ‐ MISCELLANEOUS REVENUES560 ‐ Investment Earnings (134,576.89) (54,393.94) 10,054.33 275,000.00 75,000.00 Interest rates continue to be low 565 ‐ Other Income 24,191.55 15,401.68 17,221.37 34,000.00 34,442.00 Total Category: 54 ‐ MISCELLANEOUS REVENUES: (110,385.34) (38,992.26) 27,275.70 309,000.00 109,442.00 Category: 58 ‐ OTHER FINANCING SOURCES595 ‐ Sale of Assets 13,400.00 ‐ 1,128.51 ‐ 1,128.00 599 ‐ Other (33.82) (26.99) 94.06 ‐ 94.00 Total Category: 58 ‐ OTHER FINANCING SOURCES: 13,366.18 (26.99) 1,222.57 ‐ 1,222.00 Category: 90 ‐ TRANSFERS900 ‐ Transfers 1,408,140.30 5,046,491.66 2,410,134.81 7,859,575.00 7,859,575.00 All transfers expected to be made Total Category: 90 ‐ TRANSFERS: 1,408,140.30 5,046,491.66 2,410,134.81 7,859,575.00 7,859,575.00 Total Revenue15,001,214.60 14,042,842.74 14,035,302.33 39,511,212.00 40,521,261.00 Category: 60 ‐ PERSONNEL SERVICES600 ‐ SALARIES AND WAGES 5,476,952.63 6,187,209.01 6,907,454.24 14,705,777.00 14,467,504.00 13 of 26 pay periods recorded 610 ‐ BENEFITS 4,039,956.98 3,484,045.84 3,425,820.35 6,538,910.00 5,905,141.00 615 ‐ OTHER 120,130.58 125,292.17 148,046.34 299,816.00 296,092.00 699 ‐ OTHER 8,517.49 8,501.25 9,531.80 95,850.00 95,850.00 Total Category: 60 ‐ PERSONNEL SERVICES: 9,645,557.68 9,805,048.27 10,490,852.73 21,640,353.00 20,764,587.00 Category: 65 ‐ OPERATING COSTS615 ‐ OTHER 18,077.56 20,783.70 29,389.00 35,000.00 58,778.00 650 ‐ UTILITIES 894,882.03 853,558.00 1,016,838.11 1,624,392.00 2,033,676.00 Utilities running high 655 ‐ ADMINISTRATIVE 202,574.96 186,780.74 194,049.61 642,892.00 579,132.00 660 ‐ FLEET COSTS 189,890.10 194,349.33 238,571.25 415,389.00 552,571.00 665 ‐ PROGRAM COSTS 359,860.48 463,146.19 333,522.66 750,250.00 697,044.00 670 ‐ REPAIRS AND MAINTENANCE 150,369.48 328,426.03 367,679.80 885,627.00 835,500.00 675 ‐ SUPPLIES 148,305.47 113,582.46 264,793.45 998,261.00 885,486.00 117Item 6.

680 ‐ SPECIAL SERVICES 395,743.24 77,201.04 302,389.07 946,200.00 804,778.00 690 ‐ CONTRACTUAL SERVICES 1,340,077.50 1,283,132.51 1,913,450.58 7,337,385.00 7,126,901.00 1st Qtr Fire Invoice Paid 697 ‐ ADMIN OVERHEAD (375,000.00) ‐ ‐ ‐ - 699 ‐ OTHER 1,157,062.72 1,539,979.68 1,809,749.30 1,915,874.00 1,915,874.00 Total Category: 65 ‐ OPERATING COSTS: 4,481,843.54 5,060,939.68 6,470,432.83 15,551,270.00 15,489,740.00 Category: 70 ‐ CAPITAL IMPROVEMENTS700 ‐ EQUIPMENT 25,047.51 41,115.21 141,249.30 344,751.00 344,751.00 703 ‐ FURNITURE 6,465.81 ‐ ‐ ‐ 705 ‐ VEHICLE 180,960.09 171,957.72 268,520.11 848,626.00 848,626.00 710 ‐ STRUCTURE‐ ‐ 62,500.00 ‐ Total Category: 70 ‐ CAPITAL IMPROVEMENTS: 212,473.41 213,072.93 472,269.41 1,193,377.00 1,193,377.00 Category: 77 ‐ CONTINGENCY770 ‐ CONTINGENCY‐ ‐ ‐ 150,000.00 150,000.00 Total Category: 77 ‐ CONTINGENCY:‐ ‐ ‐ 150,000.00 150,000.00 Category: 90 ‐ TRANSFERS900 ‐ Transfers 5,527.53 8,226.53 ‐ 449,166.00 449,166.00 Total Category: 90 ‐ TRANSFERS: 5,527.53 8,226.53 ‐ 449,166.00 449,166.00 Total Expense 14,345,402.16 15,087,287.41 17,433,554.97 38,984,166.00 38,046,870.00 Total Fund 100 - General Fund 655,812.44 (1,044,444.67) (3,398,252.64) 527,046.00 2,474,391.00 Add Back Reaapropriation of Unspent Funds 214,799.00 214,799.00 Funds Over/(Under) Budget741,845.00 2,689,190.00 Estimated Ending Fund Balance$20.2m118Item 6.

Budget Comparison ReportCity of Beaumont, CAthrough December 2021Estimated Beginning Fund Balance: $6.4m Parent Budget 2019‐2020YTD ActivityThrough Per 2020‐2021YTD ActivityThrough Per 2021‐2022YTD ActivityThrough Per 2021‐2022V3 FY2022 Estimate NotesCategory: 42 ‐ PERMITS453 ‐ Inspections ‐ ‐ 150.00 ‐ 150.00 Total Category: 42 ‐ PERMITS: ‐ ‐ 150.00 ‐ 150.00 Category: 50 ‐ FINES AND FORFEITURES557 ‐ Other ‐ 1,945.93 ‐ 5,000.00 5,000.00 Total Category: 50 ‐ FINES AND FORFEITURES: ‐ 1,945.93 ‐ 5,000.00 5,000.00 Category: 53 ‐ COST RECOVERY565 ‐ Other Income 6,236.10 ‐ 283.28 5,000.00 5,000.00 Total Category: 53 ‐ COST RECOVERY: 6,236.10 ‐ 283.28 5,000.00 5,000.00 Category: 54 ‐ MISCELLANEOUS REVENUES560 ‐ Investment Earnings 26,906.66 15,155.56 2,528.65 25,000.00 25,000.00 Total Category: 54 ‐ MISCELLANEOUS REVENUES: 26,906.66 15,155.56 2,528.65 25,000.00 25,000.00 Category: 56 ‐ PROPRIETARY REVENUES570 ‐ WasteWater 3,358,563.51 3,342,710.74 3,705,206.17 12,300,500.00 12,305,162.00 2 of 6 billings recordedTotal Category: 56 ‐ PROPRIETARY REVENUES: 3,358,563.51 3,342,710.74 3,705,206.17 12,300,500.00 12,305,162.00 Category: 58 ‐ OTHER FINANCING SOURCES599 ‐ Other ‐ ‐ 1,260.00 ‐ 1,260.00 Total Category: 58 ‐ OTHER FINANCING SOURCES: ‐ ‐ 1,260.00 ‐ 1,260.00 Total Revenue 3,391,706.27 3,359,812.23 3,709,428.10 12,335,500.00 12,341,572.00 Category: 60 ‐ PERSONNEL SERVICES600 ‐ SALARIES AND WAGES 552,765.76 556,643.36 703,042.78 1,743,067.00 1,576,389.00 13 out of 26 pay periods recorded610 ‐ BENEFITS 195,939.56 184,079.40 259,226.47 648,237.00 497,775.59 615 ‐ OTHER 9,207.22 8,647.60 10,613.06 24,103.00 21,226.00 699 ‐ OTHER 545.37 1,387.70 1,305.29 12,300.00 12,300.00 Total Category: 60 ‐ PERSONNEL SERVICES: 758,457.91 750,758.06 974,187.60 2,427,707.00 2,107,690.59 Category: 65 ‐ OPERATING COSTS119Item 6.

615 ‐ OTHER ‐ ‐ ‐ ‐ - 650 ‐ UTILITIES 420,336.18 334,364.01 409,419.51 767,796.00 818,839.00 Utilities running high655 ‐ ADMINISTRATIVE 46,137.09 118,296.50 67,541.35 187,475.00 163,717.00 660 ‐ FLEET COSTS 13,870.48 13,763.29 22,903.02 34,820.00 45,806.00 Fuel costs running high670 ‐ REPAIRS AND MAINTENANCE 38,351.75 21,473.86 50,100.66 96,200.00 100,200.00 675 ‐ SUPPLIES 89,123.44 176,710.71 201,911.36 553,900.00 490,122.00 690 ‐ CONTRACTUAL SERVICES 325,316.35 365,341.84 521,365.32 1,318,816.00 1,261,996.00 697 ‐ ADMIN OVERHEAD 325,000.00 ‐ ‐ ‐ - 699 ‐ OTHER 89,702.09 30,557.98 140,007.85 649,050.00 456,399.00 Total Category: 65 ‐ OPERATING COSTS: 1,347,837.38 1,060,508.19 1,413,249.07 3,608,057.00 3,337,079.00 Category: 70 ‐ CAPITAL IMPROVEMENTS700 ‐ EQUIPMENT ‐ 76,137.94 221,278.85 198,638.00 221,279.00 705 ‐ VEHICLE ‐ ‐ 98,347.60 215,000.00 215,000.00 750 ‐ OTHER ‐ ‐ ‐ 263,693.00 263,693.00 Total Category: 70 ‐ CAPITAL IMPROVEMENTS: ‐ 76,137.94 319,626.45 677,331.00 699,972.00 Category: 90 ‐ TRANSFERS900 ‐ Transfers 3,013,214.96 3,496,843.75 3,030,398.25 5,622,405.00 5,622,405.00 All transfers expected to be madeTotal Category: 90 ‐ TRANSFERS: 3,013,214.96 3,496,843.75 3,030,398.25 5,622,405.00 5,622,405.00 Total Expense 5,119,510.25 5,384,247.94 5,737,461.37 12,335,500.00 11,767,146.59 Total Fund 700 - Wastewater Fund (1,727,803.98) (2,024,435.71) (2,028,033.27) - 574,425.41 Estimated Ending Fund Balance:$6.9m120Item 6.

DESCRIPTION OF SECURITYCOUPON RATEMATURITY DATE*INVEST RATINGPURCH DATE COST VALUE MARKET VALUEDeposit AccountsCitibank Checking (Pooled Cash) N/A N/A NR N/A 28,069,033.24 28,069,033.24 Bank of Hemet ‐ Payroll N/A N/A NR N/A 429,674.39 429,674.39 Bank of Hemet ‐ Gas Tax 0.1 N/A NR N/A 2,797,138.76 2,797,138.76 Bank of Hemet ‐ Evidence and Seizure Fund 0.1 N/A NR N/A 308,502.00 308,502.00 Bank of Hemet ‐ Construction 0.1 N/A NR N/A 4,701,937.31 4,701,937.31 36,306,285.70 Certificates of DepositBank of Hemet 0.75 3/27/2023 NR 3/27/2019 200,000.00 204,175.96 Local Agency Investment Fund (LAIF)N/A Varies NR Varies 74,664,036.40 74,664,036.40 Cash & EquivalentsN/A N/A NR N/A 18,174,505.91 18,174,505.91 Fixed Income SecuritiesVaries Varies Varies Varies 26,378,293.00 26,378,293.00 Cash & EquivalentsN/A N/A NR N/A 5,448,646.28 5,448,646.28 Fixed Income SecuritiesVaries Varies Varies Varies 9,551,353.72 9,532,883.91 CITY OF BEAUMONTPOOLED INVESTMENT PORTFOLIO HOLDINGSDecember 31, 2021Cash and Investment Held by Third Party Trustee (Wilmington Trust)Cash and Investment Held by Third Party Trustee (US Bank)121Item 6.

Pooled Cash ReportFor the Period Ending 12/31/2021Fund (Claim on Cash) Account Name Beginning Balance Current Activity Current Balance 100 General Fund 24,923,132.77 (6,510,624.74) 18,412,508.03 110 Successor Agency (RDA) 176.86 ‐ 176.86 120 Self Insurance 2,850,703.71 1,583.14 2,852,286.85 200 Highway Users Tax (GAS) (1,092,527.10) 54,354.31 (368,698.40) 201 SB1 1,344,647.81 ‐ 240,119.48 202 Measure A 2,188,730.26 649,309.22 2,838,039.48 205 Motor Vehicle Subvention (AB2766) 604,838.88 (130,300.11) 474,538.77 210 Public, Education, Govt (PEG) 17,578.10 (2,300.20) 15,277.90 215 Community Development/Grants (CDBG) 1,621,203.61 (287,090.45) 1,334,113.16 220 Citizen Option Public Safety (COPS) 344,212.65 52,345.91 396,558.56 225 Asset Seizures ‐ State 53,684.69 48.38 53,733.07 230 Asset Seizures ‐ Federal‐ 1.04 1.04 240 Other Special Revenue Fund 251,662.35 30,435.41 282,097.76 250 Community Facitlities District (CFD)‐Admin 1,605,650.01 (126,652.77) 1,478,997.24 255 Community Facilities District (CFD)‐Maint 562,956.76 54,415.57 617,372.33 260 Community Facilities District (CFD)‐Public Safety 530,228.80 8,714.60 538,943.40 500 General Capital Projects 8,913,471.72 (3,445,450.39) 5,468,021.33 505 Equipment Replacement 213,859.86 (78,655.72) 135,204.14 510 Community Facilities District 13,674,329.23 (18,605.18) 13,655,724.05 550 Other Mitigation 13,386.87 6.18 13,393.05 552 Basic Services Mitigation 1,304,736.11 93,381.56 1,398,117.67 554 General Plan Mitigation 15,057.03 56,854.55 71,911.58 555 Recreational Facilities Mitigation 1,542,055.62 168,614.82 1,710,670.44 556 Traffic Signal Mitigation 1,776,866.76 (15,227.95) 1,761,638.81 558 Railroad Crossing Mitigation 2,464,172.48 103,702.45 2,567,874.93 122Item 6.

559 Police Facilities Mitigation 1,219,577.30 154,369.51 1,373,946.81 560 Fire Station Mitigation 4,939,419.93 173,903.98 5,113,323.91 562 Road and Bridge Mitigation 11,602,401.73 617,086.26 12,219,487.99 564 Recycled Water Mitigation 3,310,143.88 759,008.93 4,069,152.81 566 Emergency Preparedness Mitigation (928,736.64) 402,029.76 (526,706.88) 567 Community Park Mitigation 1,177,004.94 188,147.84 1,365,152.78 568 Regional Park Mitigation 1,940,879.42 903.33 1,941,782.75 569 Neighborhood Parks Mitigation 1,545,416.48 227,746.55 1,773,163.03 570 Pass Thru DIF Fund 6,748,659.25 (413,004.33) 6,335,654.92 600 Internal Service Fund 6,418,539.73 229,001.55 6,647,541.28 700 Wastewater 7,735,008.83 (5,113,636.49) 2,621,372.34 705 Wastewater Mitigation 8,718,656.65 1,741,843.29 10,460,499.94 710 Wastewater Capital Projects (2,096,324.02) 2,096,324.02 ‐ 750 Transit 1,215,145.09 127,210.69 1,342,355.78 755 Transit GASB 89,213.00 ‐ 89,213.00 760 Transit Capital Projects 107,108.29 (597,158.66) (490,050.37) 840 City of Beaumont CFD 18,458,673.90 (12,553,805.81) 5,904,868.09 850 Beaumont Finance Authority‐ ‐ ‐ 855 Beaumont Public Improv Authority 0.01 ‐ 0.01 860 Evidence 31,426.05 (49.42) 31,376.63 137,957,029.66 (21,736,273.31) 116,220,756.35 Total Claim on CashCash In BankPooled Cash 61,721,777.79 (33,652,744.55) 28,069,033.24 LAIF 74,557,724.93 106,311.47 74,664,036.40 Total Cash in the Bank 136,279,502.72 (33,546,433.08) 102,733,069.64 Due to Other Funds999 Due to Other Funds 63,399,304.73 (21,842,584.70) 41,556,720.03 Total Due to Other Funds 63,399,304.73 (21,842,584.70) 41,556,720.03 Cash in Bank 136,279,502.72 102,733,069.64 123Item 6.

Claim on Cash 137,957,029.66 116,220,756.35 Difference (1,677,526.94) (13,487,686.71) Pooled Cash 61,721,777.79 28,069,033.24 Due to Other Funds 63,399,304.73 41,556,720.03 (1,677,526.94) (13,487,686.79) Total Difference (0.00) 0.08 124Item 6.

125
Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate228.23Principal Portfolio - USD BEAUMONT 93-1 AREA 4 SPEC TAX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 14,124.57 0.0251TOTAL Principal Portfolio - USD14,124.5714,124.57Principal Portfolio - USD BEAUMONT 93-1 AREA 5 SPEC TAX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 3,587.31 0.0251TOTAL Principal Portfolio - USD3,587.313,587.31Principal Portfolio - USD BEAUMONT 93-1 AREA 6B SPEC TAX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.18 0.0251TOTAL Principal Portfolio - USD0.180.18Principal Portfolio - USD BEAUMONT 93-1 - PRINCIPAL ACCT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 335.04 0.0251TOTAL Principal Portfolio - USD335.04335.04Principal Portfolio - USD BEAUMONT 93-1 - ADMIN EXPENSE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.01 0.0251TOTAL Principal Portfolio - USD0.010.01Principal Portfolio - USD BEAUMONT 93-1 - REDEMPTION FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 2,062.06 0.0251TOTAL Principal Portfolio - USD2,062.062,062.06Principal Portfolio - USD BEAUMONT FINC AUTH 2007A REV BDS 99Y805YL4BEAU CFD 07A NO.11 4.50% R16 9/1/26CUSIP: 99Y805YL4100.0000 1.00 4.5000Principal Portfolio - USD BEAUMONT FINC AUTH 2007A REV BDS 99Y805YE0BEAU CFD 07A NO.3 4.50% R16 9/1/26CUSIP: 99Y805YE0100.0000 1.00 4.5000Principal Portfolio - USD BEAUMONT FINC AUTH 2007A REV BDS 99Y805YM2BEAU CFD 07A NO.11 4.50% R17 9/1/32CUSIP: 99Y805YM2100.0000 1.00 4.5000Principal Portfolio - USD BEAUMONT FINC AUTH 2007A REV BDS 99Y805YF7BEAU CFD 07A NO.3 4.50% R17 9/1/32CUSIP: 99Y805YF7100.0000 1.00 4.5000TOTAL Principal Portfolio - USD4.004.00Principal Portfolio - USD BEAUMONT 2007A - INTEREST ACCT 1214580US DOLLAR CURRENCY1.0000 76.42 0.0000TOTAL Principal Portfolio - USD76.4276.42Principal Portfolio - USD BEAUMONT 2007A - RESIDUAL ACCT 1214580US DOLLAR CURRENCY1.0000 283.16 0.0000Run Date 1/6/2022 3:28:37 PMPage 2 of 32127Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRateTOTAL Principal Portfolio - USD283.16283.16Principal Portfolio - USD BEAUMONT 2007A - RESERVE ACCT 99Y806NZ3AMBAC SURETY BOND 2007ACUSIP: 99Y806NZ31.0000 0.00 0.0000Principal Portfolio - USD BEAUMONT 2007A - RESERVE ACCT 1214580US DOLLAR CURRENCY1.0000 232.75 0.0000TOTAL Principal Portfolio - USD232.75232.75Principal Portfolio - USD BEAUMONT 2007A REDEMPTION ACCT 1214580US DOLLAR CURRENCY1.0000 1.14 0.0000TOTAL Principal Portfolio - USD1.141.14Principal Portfolio - USD BEAUMONT 93-1 AREA 3 - SPEC TAX FD 1214580US DOLLAR CURRENCY1.0000 11.45 0.0000TOTAL Principal Portfolio - USD11.4511.45Principal Portfolio - USD BEAUMONT 93-1 AREA 11 - SPEC TAX FD 1214580US DOLLAR CURRENCY1.0000 4.22 0.0000TOTAL Principal Portfolio - USD4.224.22Principal Portfolio - USD BEAUMONT 93-1 07A - PRIN ACCT 1214580US DOLLAR CURRENCY1.0000 0.38 0.0000TOTAL Principal Portfolio - USD0.380.38Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZR0BEAU CFD 07CD N.10A 5.00% R14 9/1/22CUSIP: 99Y805ZR0100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZY5BEAU CFD 07CD N.12A 5.00% R14 9/1/22CUSIP: 99Y805ZY5100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZK5BEAU CFD 07CD NO.9 5.00% R14 9/1/22CUSIP: 99Y805ZK5100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZS8BEAU CFD 07CD N.10A 5.00% R15 9/1/26CUSIP: 99Y805ZS8100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZZ2BEAU CFD 07CD N.12A 5.00% R15 9/1/26CUSIP: 99Y805ZZ2100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZL3BEAU CFD 07CD NO.9 4.75% R15 9/1/26CUSIP: 99Y805ZL3100.0000 1.00 4.7500Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZT6BEAU CFD 07CD N.10A 4.75% R16 9/1/28CUSIP: 99Y805ZT6100.0000 1.00 4.7500Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y806AA2BEAU CFD 07CD N.12A 4.75% R16 9/1/28CUSIP: 99Y806AA2100.0000 1.00 4.7500Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZM1BEAU CFD 07CD NO.9 4.75% R16 9/1/28CUSIP: 99Y805ZM1100.0000 1.00 4.7500Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZU3BEAU CFD 07CD N.10A 4.75% R17 9/1/33CUSIP: 99Y805ZU3100.0000 1.00 4.7500Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y806AB0BEAU CFD 07CD N.12A 4.75% R17 9/1/33CUSIP: 99Y806AB0100.0000 1.00 4.7500Principal Portfolio - USD BEAUMONT FIN AUTH 07 C/D REV BONDS 99Y805ZN9BEAU CFD 07CD NO.9 4.75% R17 9/1/33CUSIP: 99Y805ZN9100.0000 1.00 4.7500TOTAL Principal Portfolio - USD12.00Run Date 1/6/2022 3:28:37 PMPage 3 of 32128Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate12.00Principal Portfolio - USD BEAUMONT 2007C/D - INTEREST ACCT 1214580US DOLLAR CURRENCY1.0000 96.18 0.0000TOTAL Principal Portfolio - USD96.1896.18Principal Portfolio - USD BEAUMONT 2007C/D - RESIDUAL ACCT 1214580US DOLLAR CURRENCY1.0000 138.52 0.0000TOTAL Principal Portfolio - USD138.52138.52Principal Portfolio - USD BEAUMONT 2007C/D - RESERVE ACCT 99Y806NY6AMBAC SURETY BOND 2007CDCUSIP: 99Y806NY61.0000 0.00 0.0000Principal Portfolio - USD BEAUMONT 2007C/D - RESERVE ACCT 1214580US DOLLAR CURRENCY1.0000 141.92 0.0000TOTAL Principal Portfolio - USD141.92141.92Principal Portfolio - USD BEAUMONT 93-1 AREA 9 - SPEC TAX FD 1214580US DOLLAR CURRENCY1.0000 1.90 0.0000TOTAL Principal Portfolio - USD1.901.90Principal Portfolio - USD BEAUMONT 93-1 AREA 10A - SPEC TX FD 1214580US DOLLAR CURRENCY1.0000 6.27 0.0000TOTAL Principal Portfolio - USD6.276.27Principal Portfolio - USD BEAUMONT 93-1 AREA 12A - SPEC TX FD 1214580US DOLLAR CURRENCY1.0000 4.05 0.0000TOTAL Principal Portfolio - USD4.054.05Principal Portfolio - USD BEAUMONT 93-1 07C/D - INTEREST 1214580US DOLLAR CURRENCY1.0000 0.37 0.0000TOTAL Principal Portfolio - USD0.370.37Principal Portfolio - USD BEAUMONT 93-1 07C/D - 12A PREPAYMT 1214580US DOLLAR CURRENCY1.0000 5.40 0.0000TOTAL Principal Portfolio - USD5.405.40Principal Portfolio - USD BEAUMONT 93-1 07 8C - SPEC TAX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.62 0.0251TOTAL Principal Portfolio - USD1.621.62Principal Portfolio - USD BEAUMONT 93-1 07 8C - PRINCIPAL ACC 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.67 0.0251TOTAL Principal Portfolio - USD0.67Run Date 1/6/2022 3:28:37 PMPage 4 of 32129Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate0.67Principal Portfolio - USD BEAUMONT 93-1 8C - DIST RESIDUAL FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 2.50 0.0251TOTAL Principal Portfolio - USD2.502.50Principal Portfolio - USD BEAUMONT 93-1 IA-8C 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 156,584.02 0.0251TOTAL Principal Portfolio - USD156,584.02156,584.02Principal Portfolio - USD BEAUMONT 93-1 IA 8C REDEMPTION FD 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 1,780.09 0.0251TOTAL Principal Portfolio - USD1,780.091,780.09Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BF0BEAU CFD 11A NO.17B 5.00% R08 9/1/22CUSIP: 99Y806BF0100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BQ6BEAU CFD 11B N.17B 5.00% R05 9/1/22CUSIP: 99Y806BQ6100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BG8BEAU CFD 11A NO.17B 5.00% R09 9/1/23CUSIP: 99Y806BG8100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BR4BEAU CFD 11B N.17B 5.00% R06 9/1/23CUSIP: 99Y806BR4100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BH6BEAU CFD 11A NO.17B 5.25% R10 9/1/24CUSIP: 99Y806BH6100.0000 1.00 5.2500Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BS2BEAU CFD 11B N.17B 5.25% R07 9/1/24CUSIP: 99Y806BS2100.0000 1.00 5.2500Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BI4BEAU CFD 11A N.17B 5.375% R11 9/1/25CUSIP: 99Y806BI4100.0000 1.00 5.3750Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BT0BEAU CFD 11B N.17B 5.375% R08 9/1/25CUSIP: 99Y806BT0100.0000 1.00 5.3750Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BJ2BEAU CFD 11A N.17B 5.50% R12 9/1/26CUSIP: 99Y806BJ2100.0000 1.00 5.5000Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BU7BEAU CFD 11B N.17B 5.50% R09 9/1/26CUSIP: 99Y806BU7100.0000 1.00 5.5000Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BK9BEAU CFD 11A N.17B 6.125% R13 9/1/31CUSIP: 99Y806BK9100.0000 1.00 6.1250Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BV5BEAU CFD 11B N.17B 6.125% R10 9/1/31CUSIP: 99Y806BV5100.0000 1.00 6.1250Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BL7BEAU CFD 11A N.17B 6.375% R14 9/1/39CUSIP: 99Y806BL7100.0000 1.00 6.3750Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 99Y806BW3BEAU CFD 11B N.17B 6.375% R11 9/1/42CUSIP: 99Y806BW3100.0000 1.00 6.3750Principal Portfolio - USD BEAUMONT FIN AUTH-2011A REVENUE BDS 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.08 0.0251TOTAL Principal Portfolio - USD14.0814.08Principal Portfolio - USD BEAUMONT 2011A-BF INTEREST ACCOUNT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.50 0.0251TOTAL Principal Portfolio - USD0.500.50Run Date 1/6/2022 3:28:37 PMPage 5 of 32130Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT 2011A-RESERVE FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 14.02 0.0251TOTAL Principal Portfolio - USD14.0214.02Principal Portfolio - USD BEAUMONT 2011A-CASH FLOW MGMT FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 2.17 0.0251TOTAL Principal Portfolio - USD2.172.17Principal Portfolio - USD BEAUMONT 93-1 NO.17B-SPECIAL TAX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 2.08 0.0251TOTAL Principal Portfolio - USD2.082.08Principal Portfolio - USD BEAUMONT 93-1 NO.17B-RESIDUAL FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 58,200.42 0.0251TOTAL Principal Portfolio - USD58,200.4258,200.42Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CC6BEAU CFD 12A N.8C 4.375% R06 9/1/22CUSIP: 99Y806CC6100.0000 1.00 4.3750Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CD4BEAU CFD 12A N.8C 4.50% R07 9/1/23CUSIP: 99Y806CD4100.0000 1.00 4.5000Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CE2BEAU CFD 12A N.8C 4.75% R08 9/1/24CUSIP: 99Y806CE2100.0000 1.00 4.7500Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CF9BEAU CFD 12A N.8C 4.75% R09 9/1/25CUSIP: 99Y806CF9100.0000 1.00 4.7500Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CG7BEAU CFD 12A N.8C 5.00% R10 9/1/26CUSIP: 99Y806CG7100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CH5BEAU CFD 12A N.8C 5.00% R11 9/1/27CUSIP: 99Y806CH5100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CI3BEAU CFD 12A N.8C 5.125% R12 9/1/28CUSIP: 99Y806CI3100.0000 1.00 5.1250Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CJ1BEAU CFD 12A N.8C 5.25% R13 9/1/29CUSIP: 99Y806CJ1100.0000 1.00 5.2500Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CK8BEAU CFD 12A N.8C 5.625% R14 9/1/32CUSIP: 99Y806CK8100.0000 1.00 5.6250Principal Portfolio - USD BEAUMONT FIN AUTH 2012A REV BDS 99Y806CL6BEAU CFD 12A N.8C 5.875% R15 9/1/42CUSIP: 99Y806CL6100.0000 1.00 5.8750TOTAL Principal Portfolio - USD10.0010.00Principal Portfolio - USD BEAUMONT 2012A-BF INTEREST ACC 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.36 0.0251TOTAL Principal Portfolio - USD0.360.36Principal Portfolio - USD BEAUMONT 2012A-RESERVE FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 6.72 0.0251TOTAL Principal Portfolio - USD6.72Run Date 1/6/2022 3:28:37 PMPage 6 of 32131Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate6.72Principal Portfolio - USD BEAUMONT 2012A-RESIDUAL FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.01 0.0251TOTAL Principal Portfolio - USD0.010.01Principal Portfolio - USD BEAUMONT 2012A-CASH FLOW MGMT FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.74 0.0251TOTAL Principal Portfolio - USD1.741.74Principal Portfolio - USD BEAUMONT 93-1 NO.8C-SPECIAL TAX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 6.66 0.0251TOTAL Principal Portfolio - USD6.666.66Principal Portfolio - USD BEAUMONT 93-1 NO.8C-INTEREST ACCT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.78 0.0251TOTAL Principal Portfolio - USD1.781.78Principal Portfolio - USD BEAUMONT 93-1 NO.8C-PRINCIPAL ACCT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.20 0.0251TOTAL Principal Portfolio - USD0.200.20Principal Portfolio - USD BEAUMONT 93-1 NO.8C-RESIDUAL FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 28,624.62 0.0251TOTAL Principal Portfolio - USD28,624.6228,624.62Principal Portfolio - USD BEAUMONT 93-1 NO.8C-RATE STABLIZAT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 155,407.99 0.0251TOTAL Principal Portfolio - USD155,407.99155,407.99Principal Portfolio - USD BEAUMONT 93-1 IA-8C 2018A RESERVE 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 1,482,760.48 0.0251TOTAL Principal Portfolio - USD1,482,760.481,482,760.48Principal Portfolio - USD BEAUMONT 93-1 IA-8C 2018A COI 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 6,785.54 0.0251TOTAL Principal Portfolio - USD6,785.546,785.54Run Date 1/6/2022 3:28:37 PMPage 7 of 32132Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DD3BEAU CFD 12C N.7B 4.00% R11 9/1/23CUSIP: 99Y806DD3100.0000 1.00 4.0000Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DH4BEAU CFD 12D N.7B 4.00% R01 9/1/23CUSIP: 99Y806DH4100.0000 1.00 4.0000Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DR2BEAU CFD 12E N.7C 4.00% R11 9/1/23CUSIP: 99Y806DR2100.0000 1.00 4.0000Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806EB6BEAU CFD 12F N.7C 4.00% R11 9/1/23CUSIP: 99Y806EB6100.0000 1.00 4.0000Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DE1BEAU CFD 12C N.7B 4.125% R12 9/1/24CUSIP: 99Y806DE1100.0000 1.00 4.1250Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DI2BEAU CFD 12D N.7B 4.125% R02 9/1/24CUSIP: 99Y806DI2100.0000 1.00 4.1250Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DS0BEAU CFD 12E N.7C 4.125% R12 9/1/24CUSIP: 99Y806DS0100.0000 1.00 4.1250Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806EC4BEAU CFD 12F N.7C 4.125% R12 9/1/24CUSIP: 99Y806EC4100.0000 1.00 4.1250Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DF8BEAU CFD 12C N.7B 4.25% R13 9/1/25CUSIP: 99Y806DF8100.0000 1.00 4.2500Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DJ0BEAU CFD 12D N.7B 4.25% R03 9/1/25CUSIP: 99Y806DJ0100.0000 1.00 4.2500Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DT8BEAU CFD 12E N.7C 4.25% R13 9/1/25CUSIP: 99Y806DT8100.0000 1.00 4.2500Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806ED2BEAU CFD 12F N.7C 4.25% R13 9/1/25CUSIP: 99Y806ED2100.0000 1.00 4.2500Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DG6BEAU CFD 12C N.7B 5.25% R14 9/1/39CUSIP: 99Y806DG6100.0000 1.00 5.2500Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DK7BEAU CFD 12D N.7B 5.25% R04 9/1/39CUSIP: 99Y806DK7100.0000 1.00 5.2500Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806DU5BEAU CFD 12E N.7C 5.25% R14 9/1/39CUSIP: 99Y806DU5100.0000 1.00 5.2500Principal Portfolio - USD BEAUMONT FIN AUTH-2012C REVENUE BDS 99Y806EE0BEAU CFD 12F N.7C 5.25% R14 9/1/39CUSIP: 99Y806EE0100.0000 1.00 5.2500TOTAL Principal Portfolio - USD19.0019.00Principal Portfolio - USD BEAUMONT 2012 C BF INTEREST ACCT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 6.12 0.0251TOTAL Principal Portfolio - USD6.126.12Principal Portfolio - USD BEAUMONT 2012 C CASH FLOW MGMT FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.97 0.0251TOTAL Principal Portfolio - USD0.970.97Principal Portfolio - USD BEAUMONT 93-1 7B SPEC TAX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.10 0.0251TOTAL Principal Portfolio - USD0.100.10Principal Portfolio - USD BEAUMONT 93-1 7C SPECIAL TX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.10 0.0251TOTAL Principal Portfolio - USD0.100.10Run Date 1/6/2022 3:28:37 PMPage 9 of 32134Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT 93-1 7B SER D CONST FND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.63 0.0251TOTAL Principal Portfolio - USD0.630.63Principal Portfolio - USD BEAUMONT 93-1 7C SER F CONST FND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.93 0.0251TOTAL Principal Portfolio - USD0.930.93Principal Portfolio - USD BEAUMONT 93-1 7BSPEC MAND RDPT AC C 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.01 0.0251TOTAL Principal Portfolio - USD0.010.01Principal Portfolio - USD BEAUMONT 93-1 IA-7B 2018A SP TX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.89 0.0251TOTAL Principal Portfolio - USD0.890.89Principal Portfolio - USD BEAUMONT 93-1 IA-7B 2018A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 186,001.63 0.0251TOTAL Principal Portfolio - USD186,001.63186,001.63Principal Portfolio - USD BEAUMONT 93-1 IA-7B 18A CONSTRUCTION 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 447.95 0.0251TOTAL Principal Portfolio - USD447.95447.95Principal Portfolio - USD BEAUMONT 93-1 7BSPEC MAND RDPT AC A 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 4,667.92 0.0251TOTAL Principal Portfolio - USD4,667.924,667.92Principal Portfolio - USD BEAUMONT FIN AUTH 2013A REV BDS 99Y806EK6BEAU CFD 13A N.19C 4.25% R10 9/1/22CUSIP: 99Y806EK6100.0000 1.00 4.2500Principal Portfolio - USD BEAUMONT FIN AUTH 2013A REV BDS 99Y806EL4BEAU CFD 13A N.19C 5.00% R11 9/1/27CUSIP: 99Y806EL4100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2013A REV BDS 99Y806EM2BEAU CFD 13A N.19C 5.00% R12 9/1/36CUSIP: 99Y806EM2100.0000 1.00 5.0000TOTAL Principal Portfolio - USD3.003.00Principal Portfolio - USD BEAUMONT FIN AUTH BF INT ACCT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.77 0.0251TOTAL Principal Portfolio - USD0.77Run Date 1/6/2022 3:28:37 PMPage 10 of 32135Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate0.77Principal Portfolio - USD BEAUMONT FIN AUTH RESERVE FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 11.34 0.0251TOTAL Principal Portfolio - USD11.3411.34Principal Portfolio - USD BEAUMONT FIN AUTH RESIDUAL FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.29 0.0251TOTAL Principal Portfolio - USD0.290.29Principal Portfolio - USD BEAUMONT 93-1 NO. 19C SPEC TAX FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 5.13 0.0251TOTAL Principal Portfolio - USD5.135.13Principal Portfolio - USD BEAUMONT 93-1 NO. 19C CONST FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.65 0.0251TOTAL Principal Portfolio - USD0.650.65Principal Portfolio - USD BEAUMONT 93-1 IA-19C 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 377,186.52 0.0251TOTAL Principal Portfolio - USD377,186.52377,186.52Principal Portfolio - USD BEAUMONT 93-1 19C SP MAND RDPT 2017A 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 5,970.94 0.0251TOTAL Principal Portfolio - USD5,970.945,970.94Principal Portfolio - USD BEAUMONT FIN AUTH 2013B REV BDS 99Y806ES9BEAU CFD 13A N.17A 5.00% R10 9/1/22CUSIP: 99Y806ES9100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2013B REV BDS 99Y806ET7BEAU CFD 13A N.17A 5.00% R11 9/1/23CUSIP: 99Y806ET7100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2013B REV BDS 99Y806EU4BEAU CFD 13A N.17A 5.00% R12 9/1/28CUSIP: 99Y806EU4100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2013B REV BDS 99Y806EV2BEAU CFD 13A N.17A 5.00% R13 9/1/34CUSIP: 99Y806EV2100.0000 1.00 5.0000TOTAL Principal Portfolio - USD4.004.00Principal Portfolio - USD BEAUMONT FIN AUTH BF INTEREST AC 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.77 0.0251TOTAL Principal Portfolio - USD0.770.77Principal Portfolio - USD BEAUMONT FIN AUTH RESERVE FUND 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 14.83 0.0251Run Date 1/6/2022 3:28:37 PMPage 11 of 32136Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRateTOTAL Principal Portfolio - USD14.8314.83Principal Portfolio - USD BEAUMONT CFD 93-1 NO. 17A SP TAX FD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.86 0.0251TOTAL Principal Portfolio - USD0.860.86Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 TTE 99Y806GW8BEAU CFD 15A N.7A1 2.75% R08 9/1/22CUSIP: 99Y806GW8100.0000 1.00 2.7500Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 TTE 99Y806FB5BEAU CFD 15A N.7A1 3.00% R09 9/1/23CUSIP: 99Y806FB5100.0000 1.00 3.0000Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 TTE 99Y806FC3BEAU CFD 15A N.7A1 3.00% R10 9/1/24CUSIP: 99Y806FC3100.0000 1.00 3.0000Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 TTE 99Y806FD1BEAU CFD 15A N.7A1 5.00% R11 9/1/28CUSIP: 99Y806FD1100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 TTE 99Y806FE9BEAU CFD 15A N.7A1 3.75% R12 9/1/29CUSIP: 99Y806FE9100.0000 1.00 3.7500Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 TTE 99Y806FF6BEAU CFD 15A N.7A1 3.625% R13 9/1/30CUSIP: 99Y806FF6100.0000 1.00 3.6250Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 TTE 99Y806GX6BEAU CFD 15A N.7A1 4.00% R14 9/1/35CUSIP: 99Y806GX6100.0000 1.00 4.0000Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 TTE 99Y806GY4BEAU CFD 15A N.7A1 5.00% R15 9/1/45CUSIP: 99Y806GY4100.0000 1.00 5.0000TOTAL Principal Portfolio - USD8.008.00Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 INT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.62 0.0251TOTAL Principal Portfolio - USD0.620.62Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 RES 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 674,626.87 0.0251TOTAL Principal Portfolio - USD674,626.87674,626.87Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 RSD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 39.40 0.0251TOTAL Principal Portfolio - USD39.4039.40Principal Portfolio - USD BEAUMONT PFA 2015 BONDS A IA7A1 REV 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 32,897.97 0.0251TOTAL Principal Portfolio - USD32,897.9732,897.97Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA7A1 TTE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.04 0.0251TOTAL Principal Portfolio - USD1.04Run Date 1/6/2022 3:28:37 PMPage 12 of 32137Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate1.04Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA7A1 INT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.32 0.0251TOTAL Principal Portfolio - USD0.320.32Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA7A1 PRI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.37 0.0251TOTAL Principal Portfolio - USD1.371.37Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA7A1 ADME 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.02 0.0251TOTAL Principal Portfolio - USD0.020.02Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA7A1 SP1 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 2.17 0.0251TOTAL Principal Portfolio - USD2.172.17Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA7A1 RSD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 4.42 0.0251TOTAL Principal Portfolio - USD4.424.42Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA7A1 RDP 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1,262.68 0.0251TOTAL Principal Portfolio - USD1,262.681,262.68Principal Portfolio - USD BEAUMONT CFD 93-1 15A IA7A1 SP MAND 1214580US DOLLAR CURRENCY1.0000 26,229.03 0.0000TOTAL Principal Portfolio - USD26,229.0326,229.03Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A TTE 99Y806FK5BEAU CFD 15A N.19A 2.75% R08 9/1/22CUSIP: 99Y806FK5100.0000 1.00 2.7500Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A TTE 99Y806FL3BEAU CFD 15A N.19A 5.00% R09 9/1/25CUSIP: 99Y806FL3100.0000 1.00 5.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A TTE 99Y806FM1BEAU CFD 15A N.19A 3.125% R10 9/1/26CUSIP: 99Y806FM1100.0000 1.00 3.1250Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A TTE 99Y806FN9BEAU CFD 15A N.19A 3.25% R11 9/1/27CUSIP: 99Y806FN9100.0000 1.00 3.2500Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A TTE 99Y806FO7BEAU CFD 15A N.19A 3.375% R12 9/1/28CUSIP: 99Y806FO7100.0000 1.00 3.3750Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A TTE 99Y806FP4BEAU CFD 15A N.19A 3.50% R13 9/1/29CUSIP: 99Y806FP4100.0000 1.00 3.5000Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A TTE 99Y806HA5BEAU CFD 15A N.19A 5.00% R14 9/1/35CUSIP: 99Y806HA5100.0000 1.00 5.0000Run Date 1/6/2022 3:28:37 PMPage 13 of 32138Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A TTE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.04 0.0251TOTAL Principal Portfolio - USD8.048.04Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A INT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 67,213.71 0.0251TOTAL Principal Portfolio - USD67,213.7167,213.71Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A PRI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 37.70 0.0251TOTAL Principal Portfolio - USD37.7037.70Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A RDP 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 265.04 0.0251TOTAL Principal Portfolio - USD265.04265.04Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A RES 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1,501,474.06 0.0251TOTAL Principal Portfolio - USD1,501,474.061,501,474.06Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A RSD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 4,948.08 0.0251TOTAL Principal Portfolio - USD4,948.084,948.08Principal Portfolio - USD BEAUMONT FIN AUTH 2015B IA-19A EXP 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 22,413.90 0.0251TOTAL Principal Portfolio - USD22,413.9022,413.90Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA-19A TTE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.04 0.0251TOTAL Principal Portfolio - USD1.041.04Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA-19A INT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.48 0.0251TOTAL Principal Portfolio - USD0.480.48Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA-19A PRI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.10 0.0251Run Date 1/6/2022 3:28:37 PMPage 14 of 32139Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRateTOTAL Principal Portfolio - USD1.101.10Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA-19A ADME 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.03 0.0251TOTAL Principal Portfolio - USD0.030.03Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA-19A COI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 2,876.35 0.0251TOTAL Principal Portfolio - USD2,876.352,876.35Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA-19A SP1 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 5.53 0.0251TOTAL Principal Portfolio - USD5.535.53Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA-19A RDP 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1,577.03 0.0251TOTAL Principal Portfolio - USD1,577.031,577.03Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806FV1BEAU CFD 15A N.18 3.00% R08 9/1/22CUSIP: 99Y806FV1100.0000 1.00 3.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806FW9BEAU CFD 15A N.18 3.00% R09 9/1/23CUSIP: 99Y806FW9100.0000 1.00 3.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806FX7BEAU CFD 15A N.18 3.25% R10 9/1/24CUSIP: 99Y806FX7100.0000 1.00 3.2500Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806FY5BEAU CFD 15A N.18 3.375% R11 9/1/25CUSIP: 99Y806FY5100.0000 1.00 3.3750Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806FZ2BEAU CFD 15A N.18 3.50% R12 9/1/26CUSIP: 99Y806FZ2100.0000 1.00 3.5000Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806GA6BEAU CFD 15A N.18 3.625% R13 9/1/27CUSIP: 99Y806GA6100.0000 1.00 3.6250Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806GB4BEAU CFD 15A N.18 3.75% R14 9/1/28CUSIP: 99Y806GB4100.0000 1.00 3.7500Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806GC2BEAU CFD 15A N.18 3.875% R15 9/1/29CUSIP: 99Y806GC2100.0000 1.00 3.8750Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806GD0BEAU CFD 15A N.18 4.00% R16 9/1/30CUSIP: 99Y806GD0100.0000 1.00 4.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 99Y806GE8BEAU CFD 15A N.18 4.125% R17 9/1/34CUSIP: 99Y806GE8100.0000 1.00 4.1250Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 TTE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.04 0.0251TOTAL Principal Portfolio - USD11.0411.04Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 INT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 16,781.10 0.0251TOTAL Principal Portfolio - USD16,781.10Run Date 1/6/2022 3:28:37 PMPage 15 of 32140Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate16,781.10Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 RES 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 384,874.28 0.0251TOTAL Principal Portfolio - USD384,874.28384,874.28Principal Portfolio - USD BEAUMONT FIN AUTH 2015C IA-18 RSD 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1,257.99 0.0251TOTAL Principal Portfolio - USD1,257.991,257.99Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA18 TTE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.04 0.0251TOTAL Principal Portfolio - USD1.041.04Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA18 INT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.10 0.0251TOTAL Principal Portfolio - USD0.100.10Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA18 PRI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.32 0.0251TOTAL Principal Portfolio - USD0.320.32Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA18 CON 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 868,488.31 0.0251TOTAL Principal Portfolio - USD868,488.31868,488.31Principal Portfolio - USD BEAUMONT CFD 93-1 2015A IA18 SP1 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.47 0.0251TOTAL Principal Portfolio - USD1.471.47Principal Portfolio - USD BEAUMONT FIN AUTH 2015D IA16 TTE 99Y806GJ7BEAU CFD 15A N.16 2.875% R08 9/1/22CUSIP: 99Y806GJ7100.0000 1.00 2.8750Principal Portfolio - USD BEAUMONT FIN AUTH 2015D IA16 TTE 99Y806GK4BEAU CFD 15A N.16 3.00% R09 9/1/23CUSIP: 99Y806GK4100.0000 1.00 3.0000Principal Portfolio - USD BEAUMONT FIN AUTH 2015D IA16 TTE 99Y806GL2BEAU CFD 15A N.16 3.125% R10 9/1/24CUSIP: 99Y806GL2100.0000 1.00 3.1250Principal Portfolio - USD BEAUMONT FIN AUTH 2015D IA16 TTE 99Y806GM0BEAU CFD 15A N.16 3.375% R11 9/1/25CUSIP: 99Y806GM0100.0000 1.00 3.3750Principal Portfolio - USD BEAUMONT FIN AUTH 2015D IA16 TTE 99Y806GN8BEAU CFD 15A N.16 3.50% R12 9/1/26CUSIP: 99Y806GN8100.0000 1.00 3.5000Principal Portfolio - USD BEAUMONT FIN AUTH 2015D IA16 TTE 99Y806GO6BEAU CFD 15A N.16 3.625% R13 9/1/27CUSIP: 99Y806GO6100.0000 1.00 3.6250Principal Portfolio - USD BEAUMONT FIN AUTH 2015D IA16 TTE 99Y806GP3BEAU CFD 15A N.16 3.75% R14 9/1/28CUSIP: 99Y806GP3100.0000 1.00 3.7500Run Date 1/6/2022 3:28:37 PMPage 16 of 32141Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate1,846,178.21Principal Portfolio - USD BEAUMONT CFD93-1 2015A IA16 SP1 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 2.16 0.0251TOTAL Principal Portfolio - USD2.162.16Principal Portfolio - USD CITY OF BEAUMONT DEP AGMT IA7A1 AGY 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.82 0.0251TOTAL Principal Portfolio - USD1.821.82Principal Portfolio - USD CITY OF BEAUMONT DEP AGMT IA7A1 DEP 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 12.56 0.0251TOTAL Principal Portfolio - USD12.5612.56Principal Portfolio - USD CITY OF BEAUMONT DEP AGMT IA19A AGY 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.82 0.0251TOTAL Principal Portfolio - USD1.821.82Principal Portfolio - USD CITY OF BEAUMONT DEP AGMT IA19A DEP 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 20.74 0.0251TOTAL Principal Portfolio - USD20.7420.74Principal Portfolio - USD CITY OF BEAUMONT DEP AGMT IA18 AGY 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.82 0.0251TOTAL Principal Portfolio - USD1.821.82Principal Portfolio - USD CITY OF BEAUMONT DEP AGMT IA18 DEP 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 4.64 0.0251TOTAL Principal Portfolio - USD4.644.64Principal Portfolio - USD CITY OF BEAUMONT DEP AGMT IA16 AGY 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.82 0.0251TOTAL Principal Portfolio - USD1.821.82Principal Portfolio - USD CITY OF BEAUMONT DEP AGMT IA16 DEP 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 6.85 0.0251TOTAL Principal Portfolio - USD6.856.85Run Date 1/6/2022 3:28:37 PMPage 18 of 32143Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT 93-1 IA-14B 2017A SPEC TAX 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 1.26 0.0251TOTAL Principal Portfolio - USD1.261.26Principal Portfolio - USD BEAUMONT 93-1 IA-14B 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 378,551.71 0.0251TOTAL Principal Portfolio - USD378,551.71378,551.71Principal Portfolio - USD BEAUMONT 93-1 IA-8D 2017A SPEC TAX 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 1.42 0.0251TOTAL Principal Portfolio - USD1.421.42Principal Portfolio - USD BEAUMONT 93-1 IA-8D 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 13,101.10 0.0251TOTAL Principal Portfolio - USD13,101.1013,101.10Principal Portfolio - USD BEAUMONT 93-1 IA-8D 2017A COI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 6,904.03 0.0251TOTAL Principal Portfolio - USD6,904.036,904.03Principal Portfolio - USD BEAUMONT 93-1 IA-8D 2018A RESERVE 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 659,179.37 0.0251TOTAL Principal Portfolio - USD659,179.37659,179.37Principal Portfolio - USD BEAUMONT 93-1 IA-8D 2018A COI 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 6,781.18 0.0251TOTAL Principal Portfolio - USD6,781.186,781.18Principal Portfolio - USD BEAUMONT 93-1 IA-8A 2017A SPEC TAX 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 2.34 0.0251TOTAL Principal Portfolio - USD2.342.34Principal Portfolio - USD BEAUMONT 93-1 IA-8A 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 121,521.26 0.0251TOTAL Principal Portfolio - USD121,521.26121,521.26Principal Portfolio - USD BEAUMONT 93-1 IA-8A 2017A COI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 5,477.46 0.0251Run Date 1/6/2022 3:28:37 PMPage 19 of 32144Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRateTOTAL Principal Portfolio - USD5,477.465,477.46Principal Portfolio - USD BEAUMONT 93-1 IA-6A1 2017A SPEC TAX 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 11.34 0.0251TOTAL Principal Portfolio - USD11.3411.34Principal Portfolio - USD BEAUMONT 93-1 IA-6A1 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 818,966.32 0.0251TOTAL Principal Portfolio - USD818,966.32818,966.32Principal Portfolio - USD BEAUMONT 93-1 IA-6A1 2017A COI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1,887.31 0.0251TOTAL Principal Portfolio - USD1,887.311,887.31Principal Portfolio - USD BEAUMONT 93-1 IA-8 2017A SPEC TAX 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 3.24 0.0251TOTAL Principal Portfolio - USD3.243.24Principal Portfolio - USD BEAUMONT 93-1 IA-8 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 159,910.67 0.0251TOTAL Principal Portfolio - USD159,910.67159,910.67Principal Portfolio - USD BEAUMONT 93-1 IA-8 2017A COI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 10,289.04 0.0251TOTAL Principal Portfolio - USD10,289.0410,289.04Principal Portfolio - USD BEAUMONT 93-1 IA-8B 2017A SPEC TAX 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 1.98 0.0251TOTAL Principal Portfolio - USD1.981.98Principal Portfolio - USD BEAUMONT 93-1 IA-8B 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 105,967.72 0.0251TOTAL Principal Portfolio - USD105,967.72105,967.72Principal Portfolio - USD BEAUMONT 93-1 IA-8B 2017A COI 1214580US DOLLAR CURRENCY1.0000 1.45 0.0000TOTAL Principal Portfolio - USD1.45Run Date 1/6/2022 3:28:37 PMPage 20 of 32145Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate1.45Principal Portfolio - USD BEAUMONT 93-1 IA-14 2017A SPEC TAX 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 3.15 0.0251TOTAL Principal Portfolio - USD3.153.15Principal Portfolio - USD BEAUMONT 93-1 IA-14 2017A REDEMPT 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 3,566.20 0.0251TOTAL Principal Portfolio - USD3,566.203,566.20Principal Portfolio - USD BEAUMONT 93-1 IA-14 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 152,135.97 0.0251TOTAL Principal Portfolio - USD152,135.97152,135.97Principal Portfolio - USD BEAUMONT 93-1 IA-14 2017A COI 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 7,981.96 0.0251TOTAL Principal Portfolio - USD7,981.967,981.96Principal Portfolio - USD BEAUMONT 93-1 IA-14 SPEC MAND RDPT 1214580US DOLLAR CURRENCY1.0000 1,470.90 0.0000TOTAL Principal Portfolio - USD1,470.901,470.90Principal Portfolio - USD BEAUMONT 93-1 IA-14A 2017A SPEC TAX 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 5.59 0.0251TOTAL Principal Portfolio - USD5.595.59Principal Portfolio - USD BEAUMONT 93-1 IA-14A 2017A REDEMPT 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 3,387.59 0.0251TOTAL Principal Portfolio - USD3,387.593,387.59Principal Portfolio - USD BEAUMONT 93-1 IA-14A 2017A RESERVE 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 280,669.20 0.0251TOTAL Principal Portfolio - USD280,669.20280,669.20Principal Portfolio - USD BEAUMONT 93-1 IA-14A 2017A COI 1214580US DOLLAR CURRENCY1.0000 1.61 0.0000TOTAL Principal Portfolio - USD1.611.61Principal Portfolio - USD BEAUMONT 93-1 IA-14A SPEC MAND RDPT 1214580US DOLLAR CURRENCY1.0000 3,908.28 0.0000Run Date 1/6/2022 3:28:37 PMPage 21 of 32146Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRateTOTAL Principal Portfolio - USD3,908.283,908.28Principal Portfolio - USD BEAUMONT 93-1 IA-17C 2018 SPEC TAX 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 1.51 0.0251TOTAL Principal Portfolio - USD1.511.51Principal Portfolio - USD BEAUMONT 93-1 IA-17C 2018 RESERVE 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 732,904.74 0.0251TOTAL Principal Portfolio - USD732,904.74732,904.74Principal Portfolio - USD BEAUMONT 93-1 IA-17C 18 COI 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 6,784.45 0.0251TOTAL Principal Portfolio - USD6,784.456,784.45Principal Portfolio - USD BEAUMONT WASTEWATER 18A BD PMT FD DC2493229AGM MUNI BOND INS POLICY #219021-NCUSIP: DC24932291.0000 0.00 0.0000TOTAL Principal Portfolio - USD0.000.00Principal Portfolio - USD BEAUMONT WASTEWATER 18A INTEREST ACC09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 19.80 0.0251TOTAL Principal Portfolio - USD19.8019.80Principal Portfolio - USD BEAUMONT WASTEWATER 18A RESERVE FD LI5952286AGM MB DEBT SERVICE POLICY #219021-RCUSIP: LI59522861.0000 1.00 0.0000TOTAL Principal Portfolio - USD1.001.00Principal Portfolio - USD BEAUMONT WASTEWATER 18A ACQUISITION 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 1.17 0.0251TOTAL Principal Portfolio - USD1.171.17Principal Portfolio - USD BEAUMONT 93-1 IA-7D 2018A PRIN ACCT 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.34 0.0251TOTAL Principal Portfolio - USD0.340.34Principal Portfolio - USD BEAUMONT 93-1 IA-7D 2018A RESERVE 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 215,000.43 0.0251TOTAL Principal Portfolio - USD215,000.43Run Date 1/6/2022 3:28:37 PMPage 22 of 32147Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRate215,000.43Principal Portfolio - USD BEAUMONT 93-1 IA-7D 2018A SURPLUS 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 180.76 0.0251TOTAL Principal Portfolio - USD180.76180.76Principal Portfolio - USD BEAUMONT 93-1 IA-7D 18A ACQUISITION 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 6,770.39 0.0251TOTAL Principal Portfolio - USD6,770.396,770.39Principal Portfolio - USD BEAUMONT 93-1 IA-8E 2018A SPEC TX FD 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 2.14 0.0251TOTAL Principal Portfolio - USD2.142.14Principal Portfolio - USD BEAUMONT 93-1 IA-8E 2018A PRIN ACCT 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.24 0.0251TOTAL Principal Portfolio - USD0.240.24Principal Portfolio - USD BEAUMONT 93-1 IA-8E 2018A RESERVE 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 1,044,879.13 0.0251TOTAL Principal Portfolio - USD1,044,879.131,044,879.13Principal Portfolio - USD BEAUMONT 93-1 IA-8E 18A ACQ CONST 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 9,714.94 0.0251TOTAL Principal Portfolio - USD9,714.949,714.94Principal Portfolio - USD BEAUMONT CFD 16-1 2019 PRINCIPAL 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.75 0.0251TOTAL Principal Portfolio - USD0.750.75Principal Portfolio - USD BEAUMONT CFD 16-1 2019 SURPLUS FD 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 1,403.57 0.0251TOTAL Principal Portfolio - USD1,403.571,403.57Principal Portfolio - USD BEAUMONT CFD 16-1 2019 RESERVE ACCT 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 546,984.34 0.0251TOTAL Principal Portfolio - USD546,984.34546,984.34Run Date 1/6/2022 3:28:37 PMPage 23 of 32148Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT CFD 16-1 2019 ACQ CONST 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 12,266.03 0.0251TOTAL Principal Portfolio - USD12,266.0312,266.03Principal Portfolio - USD BEAUMONT CFD 16-1 2019 COI 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 2.00 0.0251TOTAL Principal Portfolio - USD2.002.00Principal Portfolio - USD BEAUMONT CFD 93-1 IA3 2019 PRINCIPAL 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.12 0.0251TOTAL Principal Portfolio - USD0.120.12Principal Portfolio - USD BEAUMONT CFD 93-1 IA3 2019 SURPLUS 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 1.08 0.0251TOTAL Principal Portfolio - USD1.081.08Principal Portfolio - USD BEAUMONT CFD 93-1 IA9 2019 PRINCIPAL 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.02 0.0251TOTAL Principal Portfolio - USD0.020.02Principal Portfolio - USD BEAUMONT CFD 93-1 IA9 2019 SURPLUS 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.18 0.0251TOTAL Principal Portfolio - USD0.180.18Principal Portfolio - USD BEAUMONT CFD 93-1 IA10A 19 PRINCIPAL 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.08 0.0251TOTAL Principal Portfolio - USD0.080.08Principal Portfolio - USD BEAUMONT CFD 93-1 IA10A 2019 SURPLUS 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.63 0.0251TOTAL Principal Portfolio - USD0.630.63Principal Portfolio - USD BEAUMONT CFD 93-1 IA11 2019 PRNCIPAL 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.05 0.0251TOTAL Principal Portfolio - USD0.050.05Principal Portfolio - USD BEAUMONT CFD 93-1 IA11 2019 SURPLUS 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.45 0.0251Run Date 1/6/2022 3:28:37 PMPage 24 of 32149Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRateTOTAL Principal Portfolio - USD0.450.45Principal Portfolio - USD BEAUMONT CFD 93-1 IA12A 19 PRINCIPAL 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.05 0.0251TOTAL Principal Portfolio - USD0.050.05Principal Portfolio - USD BEAUMONT CFD 93-1 IA12A 2019 SURPLUS 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 0.45 0.0251TOTAL Principal Portfolio - USD0.450.45Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JZ4BEAUMONT CFD 93-1 IA-11 4.00% 9/1/22CUSIP: 99Y813JZ41.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IM4BEAUMONT CFD 93-1 IA-3 4.00% 9/1/22CUSIP: 99Y813IM41.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IZ5BEAUMONT CFD 93-1 IA-9 4.00% 9/1/22CUSIP: 99Y813IZ51.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JM3BEAUMONT CFD 93-1 IA10A 4.00% 9/1/22CUSIP: 99Y813JM31.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KM1BEAUMONT CFD 93-1 IA12A 4.00% 9/1/22CUSIP: 99Y813KM11.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KA7BEAUMONT CFD 93-1 IA-11 5.00% 9/1/23CUSIP: 99Y813KA71.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IN2BEAUMONT CFD 93-1 IA-3 5.00% 9/1/23CUSIP: 99Y813IN21.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JA9BEAUMONT CFD 93-1 IA-9 5.00% 9/1/23CUSIP: 99Y813JA91.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JN1BEAUMONT CFD 93-1 IA10A 5.00% 9/1/23CUSIP: 99Y813JN11.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KN9BEAUMONT CFD 93-1 IA12A 5.00% 9/1/23CUSIP: 99Y813KN91.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KB5BEAUMONT CFD 93-1 IA-11 5.00% 9/1/24CUSIP: 99Y813KB51.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IO0BEAUMONT CFD 93-1 IA-3 5.00% 9/1/24CUSIP: 99Y813IO01.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JB7BEAUMONT CFD 93-1 IA-9 5.00% 9/1/24CUSIP: 99Y813JB71.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JO9BEAUMONT CFD 93-1 IA10A 5.00% 9/1/24CUSIP: 99Y813JO91.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KO7BEAUMONT CFD 93-1 IA12A 5.00% 9/1/24CUSIP: 99Y813KO71.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KC3BEAUMONT CFD 93-1 IA-11 5.00% 9/1/25CUSIP: 99Y813KC31.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IP7BEAUMONT CFD 93-1 IA-3 5.00% 9/1/25CUSIP: 99Y813IP71.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JC5BEAUMONT CFD 93-1 IA-9 5.00% 9/1/25CUSIP: 99Y813JC51.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JP6BEAUMONT CFD 93-1 IA10A 5.00% 9/1/25CUSIP: 99Y813JP61.00 5.0000Run Date 1/6/2022 3:28:37 PMPage 25 of 32150Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KP4BEAUMONT CFD 93-1 IA12A 5.00% 9/1/25CUSIP: 99Y813KP41.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KD1BEAUMONT CFD 93-1 IA-11 5.00% 9/1/26CUSIP: 99Y813KD11.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IQ5BEAUMONT CFD 93-1 IA-3 5.00% 9/1/26CUSIP: 99Y813IQ51.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JD3BEAUMONT CFD 93-1 IA-9 5.00% 9/1/26CUSIP: 99Y813JD31.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JQ4BEAUMONT CFD 93-1 IA10A 5.00% 9/1/26CUSIP: 99Y813JQ41.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KQ2BEAUMONT CFD 93-1 IA12A 5.00% 9/1/26CUSIP: 99Y813KQ21.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KE9BEAUMONT CFD 93-1 IA-11 5.00% 9/1/27CUSIP: 99Y813KE91.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IR3BEAUMONT CFD 93-1 IA-3 5.00% 9/1/27CUSIP: 99Y813IR31.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JE1BEAUMONT CFD 93-1 IA-9 5.00% 9/1/27CUSIP: 99Y813JE11.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JR2BEAUMONT CFD 93-1 IA10A 5.00% 9/1/27CUSIP: 99Y813JR21.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KR0BEAUMONT CFD 93-1 IA12A 5.00% 9/1/27CUSIP: 99Y813KR01.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KF6BEAUMONT CFD 93-1 IA-11 5.00% 9/1/28CUSIP: 99Y813KF61.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IS1BEAUMONT CFD 93-1 IA-3 5.00% 9/1/28CUSIP: 99Y813IS11.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JF8BEAUMONT CFD 93-1 IA-9 5.00% 9/1/28CUSIP: 99Y813JF81.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JS0BEAUMONT CFD 93-1 IA10A 5.00% 9/1/28CUSIP: 99Y813JS01.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KS8BEAUMONT CFD 93-1 IA12A 5.00% 9/1/28CUSIP: 99Y813KS81.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KG4BEAUMONT CFD 93-1 IA-11 5.00% 9/1/29CUSIP: 99Y813KG41.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IT9BEAUMONT CFD 93-1 IA-3 5.00% 9/1/29CUSIP: 99Y813IT91.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JG6BEAUMONT CFD 93-1 IA-9 5.00% 9/1/29CUSIP: 99Y813JG61.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JT8BEAUMONT CFD 93-1 IA10A 5.00% 9/1/29CUSIP: 99Y813JT81.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KT6BEAUMONT CFD 93-1 IA12A 5.00% 9/1/29CUSIP: 99Y813KT61.00 5.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KH2BEAUMONT CFD 93-1 IA-11 4.00% 9/1/30CUSIP: 99Y813KH21.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813IU6BEAUMONT CFD 93-1 IA-3 4.00% 9/1/30CUSIP: 99Y813IU61.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JH4BEAUMONT CFD 93-1 IA-9 4.00% 9/1/30CUSIP: 99Y813JH41.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813JU5BEAUMONT CFD 93-1 IA10A 4.00% 9/1/30CUSIP: 99Y813JU51.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KU3BEAUMONT CFD 93-1 IA12A 4.00% 9/1/30CUSIP: 99Y813KU31.00 4.0000Principal Portfolio - USD BEAUMONT REF BDS 2019A REVENUE FD 99Y813KI0BEAUMONT CFD 93-1 IA-11 4.00% 9/1/31CUSIP: 99Y813KI01.00 4.0000Run Date 1/6/2022 3:28:37 PMPage 26 of 32151Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT CFD 16-2 2019 SURPLUS FD 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 3.70 0.0251TOTAL Principal Portfolio - USD3.703.70Principal Portfolio - USD BEAUMONT CFD 16-2 2019 ACQ CONST 09248U809BLACKROCK LIQUIDITY FEDFUND DLTicker: TDDXX; CUSIP: 09248U8091.0000 42,691.78 0.0251TOTAL Principal Portfolio - USD42,691.7842,691.78Principal Portfolio - USD BEAUMONT CFD 16-2 2019 COI 1214580US DOLLAR CURRENCY1.0000 1.20 0.0000TOTAL Principal Portfolio - USD1.201.20Principal Portfolio - USD BEAUMONT CFD 16-4 2019 PRINCIPAL 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 0.12 0.0251TOTAL Principal Portfolio - USD0.120.12Principal Portfolio - USD BEAUMONT CFD 16-4 2019 RESERVE ACCT 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 245,967.55 0.0251TOTAL Principal Portfolio - USD245,967.55245,967.55Principal Portfolio - USD BEAUMONT CFD 16-4 2019 SURPLUS 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 2.87 0.0251TOTAL Principal Portfolio - USD2.872.87Principal Portfolio - USD BEAUMONT CFD 16-4 2019 ACQ CONST 09248U445BLACKROCK LIQUIDITY FEDFUND ADMINTicker: BLFXX; CUSIP: 09248U4451.0000 23,404.93 0.0251TOTAL Principal Portfolio - USD23,404.9323,404.93Principal Portfolio - USD BEAUMONT CFD 93-1 8F 2020 INTEREST 1214580US DOLLAR CURRENCY1.0000 0.01 0.0000TOTAL Principal Portfolio - USD0.010.01Principal Portfolio - USD BEAUMONT CFD 93-1 8F 2020 RESERVE 1214580US DOLLAR CURRENCY1.0000 980,910.77 0.0000TOTAL Principal Portfolio - USD980,910.77980,910.77Principal Portfolio - USD BEAUMONT CFD 93-1 8F 2020 COI 1214580US DOLLAR CURRENCY1.0000 4,800.00 0.0000TOTAL Principal Portfolio - USD4,800.004,800.00Run Date 1/6/2022 3:28:37 PMPage 28 of 32153Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BPIA 2020 COSTS OF ISSUANCE 1214580US DOLLAR CURRENCY1.0000 16,467.38 0.0000TOTAL Principal Portfolio - USD16,467.3816,467.38Principal Portfolio - USD BEAUMONT 2012 SERIES A (8C) ESCROW 99Y816GX5US STATE/LOCAL GOVT 0.11% 3/1/22CUSIP: 99Y816GX5100.0000 155,613.00 0.1100Principal Portfolio - USD BEAUMONT 2012 SERIES A (8C) ESCROW 99Y816GY3US STATE/LOCAL GOVT 0.11% 9/1/22CUSIP: 99Y816GY3100.0000 5,685,697.00 0.1100Principal Portfolio - USD BEAUMONT 2012 SERIES A (8C) ESCROW 1214580US DOLLAR CURRENCY1.0000 0.13 0.0000TOTAL Principal Portfolio - USD5,841,310.135,841,310.13Principal Portfolio - USD BEAUMONT 2011 SERIES A (17B) ESCROW 1214580US DOLLAR CURRENCY1.0000(0.05)0.0000TOTAL Principal Portfolio - USD(0.05)(0.05)Principal Portfolio - USD BEAUMONT CFD 2019-1 2020 INTEREST 1214580US DOLLAR CURRENCY1.0000 0.01 0.0000TOTAL Principal Portfolio - USD0.010.01Principal Portfolio - USD BEAUMONT CFD 2019-1 2020 RESERVE ACC 1214580US DOLLAR CURRENCY1.0000 128,087.50 0.0000TOTAL Principal Portfolio - USD128,087.50128,087.50Principal Portfolio - USD BEAUMONT CFD 2019-1 2020 COI 1214580US DOLLAR CURRENCY1.0000 7,800.00 0.0000TOTAL Principal Portfolio - USD7,800.007,800.00Principal Portfolio - USD BEAUMONT 2012B (IA20) ESCROW FUND 99Y819XK8US STATE/LOCAL GOVT 0.04% 3/1/22CUSIP: 99Y819XK8100.0000 79,099.00 0.0400Principal Portfolio - USD BEAUMONT 2012B (IA20) ESCROW FUND 99Y819XL6US STATE/LOCAL GOVT 0.07% 9/1/22CUSIP: 99Y819XL6100.0000 2,854,121.00 0.0700Principal Portfolio - USD BEAUMONT 2012B (IA20) ESCROW FUND 1214580US DOLLAR CURRENCY1.0000 0.97 0.0000TOTAL Principal Portfolio - USD2,933,220.972,933,220.97Principal Portfolio - USD BEAUMONT 2012C (IA7B IA7C) ESCROW FD 99Y819XN2US STATE/LOCAL GOVT 0.04% 3/1/22CUSIP: 99Y819XN2100.0000 81,205.00 0.0400Principal Portfolio - USD BEAUMONT 2012C (IA7B IA7C) ESCROW FD 99Y819XP7US STATE/LOCAL GOVT 0.07% 9/1/22CUSIP: 99Y819XP7100.0000 3,296,226.00 0.0700Principal Portfolio - USD BEAUMONT 2012C (IA7B IA7C) ESCROW FD 1214580US DOLLAR CURRENCY1.0000 2.50 0.0000TOTAL Principal Portfolio - USD3,377,433.503,377,433.50Principal Portfolio - USD BEAUMONT 2013A (IA19C) ESCROW FUND 99Y819XS1US STATE/LOCAL GOVT 0.04% 3/1/22CUSIP: 99Y819XS1100.0000 120,120.00 0.0400Principal Portfolio - USD BEAUMONT 2013A (IA19C) ESCROW FUND 99Y819XT9US STATE/LOCAL GOVT 0.07% 9/1/22CUSIP: 99Y819XT9100.0000 540,153.00 0.0700Run Date 1/6/2022 3:28:37 PMPage 29 of 32154Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT 2013A (IA19C) ESCROW FUND 99Y819XU6US STATE/LOCAL GOVT 0.11% 3/1/23CUSIP: 99Y819XU6100.0000 111,417.00 0.1100Principal Portfolio - USD BEAUMONT 2013A (IA19C) ESCROW FUND 99Y819XV4US STATE/LOCAL GOVT 0.17% 9/1/23CUSIP: 99Y819XV4100.0000 4,731,478.00 0.1700Principal Portfolio - USD BEAUMONT 2013A (IA19C) ESCROW FUND 1214580US DOLLAR CURRENCY1.0000 0.91 0.0000TOTAL Principal Portfolio - USD5,503,168.915,503,168.91Principal Portfolio - USD BEAUMONT 2013B (IA17A) ESCROW FUND 99Y819XX0US STATE/LOCAL GOVT 0.04% 3/1/22CUSIP: 99Y819XX0100.0000 192,449.00 0.0400Principal Portfolio - USD BEAUMONT 2013B (IA17A) ESCROW FUND 99Y819XY8US STATE/LOCAL GOVT 0.07% 9/1/22CUSIP: 99Y819XY8100.0000 642,499.00 0.0700Principal Portfolio - USD BEAUMONT 2013B (IA17A) ESCROW FUND 99Y819XZ5US STATE/LOCAL GOVT 0.11% 3/1/23CUSIP: 99Y819XZ5100.0000 181,475.00 0.1100Principal Portfolio - USD BEAUMONT 2013B (IA17A) ESCROW FUND 99Y819YA9US STATE/LOCAL GOVT 0.17% 9/1/23CUSIP: 99Y819YA9100.0000 7,706,574.00 0.1700Principal Portfolio - USD BEAUMONT 2013B (IA17A) ESCROW FUND 1214580US DOLLAR CURRENCY1.0000 0.02 0.0000TOTAL Principal Portfolio - USD8,722,997.028,722,997.02Principal Portfolio - USD BEAUMONT 93-1 IA-19C 2021 REDMPT 1214580US DOLLAR CURRENCY1.0000 8,207.95 0.0000TOTAL Principal Portfolio - USD8,207.958,207.95Principal Portfolio - USD BEAUMONT 93-1 IA-17A 2021 REDMPT 1214580US DOLLAR CURRENCY1.0000 15,936.51 0.0000TOTAL Principal Portfolio - USD15,936.5115,936.51Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599041BEAUMON CFD 93-1 IA17A 0.265% 9/1/22CUSIP: DC25990410.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599058BEAUMON CFD 93-1 IA17A 0.465% 9/1/23CUSIP: DC25990580.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599066BEAUMON CFD 93-1 IA17A 0.739% 9/1/24CUSIP: DC25990660.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599074BEAUMON CFD 93-1 IA17A 1.034% 9/1/25CUSIP: DC25990740.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599082BEAUMON CFD 93-1 IA17A 1.284% 9/1/26CUSIP: DC25990820.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599090BEAUMON CFD 93-1 IA17A 1.544% 9/1/27CUSIP: DC25990900.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599108BEAUMON CFD 93-1 IA17A 1.794% 9/1/28CUSIP: DC25991080.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599116BEAUMON CFD 93-1 IA17A 1.947% 9/1/29CUSIP: DC25991160.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599124BEAUMON CFD 93-1 IA17A 2.097% 9/1/30CUSIP: DC25991240.00 0.0000Run Date 1/6/2022 3:28:37 PMPage 30 of 32155Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599132BEAUMON CFD 93-1 IA17A 2.197% 9/1/31CUSIP: DC25991320.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599140BEAUMON CFD 93-1 IA17A 2.397% 9/1/32CUSIP: DC25991400.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599157BEAUMON CFD 93-1 IA17A 2.500% 9/1/34CUSIP: DC25991570.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599165BEAUMON CFD 93-1 IA19C 0.265% 9/1/22CUSIP: DC25991650.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599173BEAUMON CFD 93-1 IA19C 0.465% 9/1/23CUSIP: DC25991730.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599181BEAUMON CFD 93-1 IA19C 0.739% 9/1/24CUSIP: DC25991810.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599199BEAUMON CFD 93-1 IA19C 1.034% 9/1/25CUSIP: DC25991990.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599207BEAUMON CFD 93-1 IA19C 1.284% 9/1/26CUSIP: DC25992070.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599215BEAUMON CFD 93-1 IA19C 1.544% 9/1/27CUSIP: DC25992150.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599223BEAUMON CFD 93-1 IA19C 1.794% 9/1/28CUSIP: DC25992230.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599231BEAUMON CFD 93-1 IA19C 1.947% 9/1/29CUSIP: DC25992310.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599249BEAUMON CFD 93-1 IA19C 2.097% 9/1/30CUSIP: DC25992490.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599256BEAUMON CFD 93-1 IA19C 2.197% 9/1/31CUSIP: DC25992560.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599264BEAUMON CFD 93-1 IA19C 2.397% 9/1/32CUSIP: DC25992640.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599272BEAUMON CFD 93-1 IA19C 2.500% 9/1/34CUSIP: DC25992720.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599280BEAUMON CFD 93-1 IA19C 2.984% 9/1/36CUSIP: DC25992800.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599298BEAUMONT CFD 93-1 IA20 0.265% 9/1/22CUSIP: DC25992980.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599306BEAUMONT CFD 93-1 IA20 0.465% 9/1/23CUSIP: DC25993060.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599314BEAUMONT CFD 93-1 IA20 0.739% 9/1/24CUSIP: DC25993140.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599322BEAUMONT CFD 93-1 IA20 1.034% 9/1/25CUSIP: DC25993220.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599330BEAUMONT CFD 93-1 IA20 1.284% 9/1/26CUSIP: DC25993300.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599348BEAUMONT CFD 93-1 IA20 1.544% 9/1/27CUSIP: DC25993480.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599355BEAUMONT CFD 93-1 IA20 1.794% 9/1/28CUSIP: DC25993550.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599363BEAUMONT CFD 93-1 IA20 1.947% 9/1/29CUSIP: DC25993630.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599371BEAUMONT CFD 93-1 IA20 2.097% 9/1/30CUSIP: DC25993710.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599389BEAUMONT CFD 93-1 IA20 2.197% 9/1/31CUSIP: DC25993890.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599397BEAUMONT CFD 93-1 IA20 2.397% 9/1/32CUSIP: DC25993970.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599405BEAUMONT CFD 93-1 IA20 2.500% 9/1/34CUSIP: DC25994050.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599413BEAUMONT CFD 93-1 IA20 2.984% 9/1/35CUSIP: DC25994130.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598787BEAUMONT CFD 93-1 IA7B 0.265% 9/1/22CUSIP: DC25987870.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598795BEAUMONT CFD 93-1 IA7B 0.465% 9/1/23CUSIP: DC25987950.00 0.0000Run Date 1/6/2022 3:28:37 PMPage 31 of 32156Item 6.

Security ListingFor 630 AccountsAs of Date 12/31/2021Portfolio Type/Currency(Local) Account Short Title Issue ID Short DescriptionOriginalUnit CostMarketValueInterestRatePrincipal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598803BEAUMONT CFD 93-1 IA7B 0.739% 9/1/24CUSIP: DC25988030.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598811BEAUMONT CFD 93-1 IA7B 1.034% 9/1/25CUSIP: DC25988110.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598829BEAUMONT CFD 93-1 IA7B 1.284% 9/1/26CUSIP: DC25988290.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598837BEAUMONT CFD 93-1 IA7B 1.544% 9/1/27CUSIP: DC25988370.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598845BEAUMONT CFD 93-1 IA7B 1.794% 9/1/28CUSIP: DC25988450.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598852BEAUMONT CFD 93-1 IA7B 1.947% 9/1/29CUSIP: DC25988520.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598860BEAUMONT CFD 93-1 IA7B 2.097% 9/1/30CUSIP: DC25988600.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598878BEAUMONT CFD 93-1 IA7B 2.197% 9/1/31CUSIP: DC25988780.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598886BEAUMONT CFD 93-1 IA7B 2.397% 9/1/32CUSIP: DC25988860.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598894BEAUMONT CFD 93-1 IA7B 2.500% 9/1/34CUSIP: DC25988940.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598902BEAUMONT CFD 93-1 IA7B 2.984% 9/1/39CUSIP: DC25989020.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598910BEAUMONT CFD 93-1 IA7C 0.265% 9/1/22CUSIP: DC25989100.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598928BEAUMONT CFD 93-1 IA7C 0.465% 9/1/23CUSIP: DC25989280.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598936BEAUMONT CFD 93-1 IA7C 0.739% 9/1/24CUSIP: DC25989360.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598944BEAUMONT CFD 93-1 IA7C 1.034% 9/1/25CUSIP: DC25989440.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598951BEAUMONT CFD 93-1 IA7C 1.284% 9/1/26CUSIP: DC25989510.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598969BEAUMONT CFD 93-1 IA7C 1.544% 9/1/27CUSIP: DC25989690.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598977BEAUMONT CFD 93-1 IA7C 1.794% 9/1/28CUSIP: DC25989770.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598985BEAUMONT CFD 93-1 IA7C 1.947% 9/1/29CUSIP: DC25989850.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2598993BEAUMONT CFD 93-1 IA7C 2.097% 9/1/30CUSIP: DC25989930.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599009BEAUMONT CFD 93-1 IA7C 2.197% 9/1/31CUSIP: DC25990090.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599017BEAUMONT CFD 93-1 IA7C 2.397% 9/1/32CUSIP: DC25990170.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599025BEAUMONT CFD 93-1 IA7C 2.500% 9/1/34CUSIP: DC25990250.00 0.0000Principal Portfolio - USD BEAUMONT REF BDS 2021A PRNCIPAL ACCT DC2599033BEAUMONT CFD 93-1 IA7C 2.984% 9/1/39CUSIP: DC25990330.00 0.0000TOTAL Principal Portfolio - USD0.000.00Principal Portfolio - USD BEAUMONT REF BDS 2021A COST ISSUANCE 1214580US DOLLAR CURRENCY1.0000 20,342.49 0.0000TOTAL Principal Portfolio - USD20,342.4920,342.49Run Date 1/6/2022 3:28:37 PMPage 32 of 32157Item 6.

12/01/2021 to 12/31/2021
City of Beaumont, CA
Investment Report
158
Item 6.

Tom Tight | Managing Director
Direct: (407) 588-9391
Mobile: (407) 765-0761
[email protected]
Mark Creger | Director, Portfolio Management
Direct: (213) 545-7452
Mobile: (323) 573-9529
[email protected]
John Grady | Managing Director
Direct: (407) 588-0525
Mobile: (407) 701-8002
[email protected]
Manuel N. San Luis | Vice President, Portfolio Manage-
ment
Direct: (213) 545-8605
Mobile: (213) 509-3758
[email protected]
Relationship Managers Portfolio Manager
Relationship Management Team
Table of Contents
Executive Summary
• Portfolio Overview 3
• Maturity Distribution 4
• Rating Distribution 5
• Security Distribution – Market Value 6
• Security Distribution – Historical Cost 7
Supporting Reports
• Portfolio Holdings 8
• Transactions 10
• Income 11
• GASB 40 12
• Portfolio Activity Summary 14
Disclaimers
159
Item 6.

Public Trust Advisors 3
12/01/2021 to 12/31/2021
City of Beaumont, CA
Portfolio Overview
11/30/21 12/31/21
Duration 1.205
Years to Effective Maturity 1.213
Years to Final Maturity 1.213
Coupon Rate 0.144
Book Yield 0.379
Market Yield 0.443
Benchmark Yield 0.883
Portfolio Summary
Asset Allocation
Portfolio Characteristics
Summary 11/30/21 12/31/21
Historical Cost $0.00 $14,997,148.07
Book Value 0.00 14,999,556.94
Accrued Interest 0.00 4,313.32
Net Pending Transactions 0.00 37.09
Book Value Plus Accrued $0.00 $15,003,907.36
Net Unrealized Gain/Loss 0.00 (18,063.84)
Market Value Plus Accrued $0.00 $14,985,843.52
Period Income Income
Interest Income $1,498.48
Net Amortization/Accretion Income 2,408.87
Other Income/Expenses 0.01
Net Income $3,907.36
Income Summary
Detail may not add to total due to rounding.

Executive Summary
160
Item 6.

Public Trust Advisors 4
12/01/2021 to 12/31/2021
City of Beaumont, CA
Maturity Distribution by Security Type
Portfolio Overview
Issuer Value
United States 63.64%
U.S. Bancorp 36.36%
(CCYUSD) UNITED STATES OF AMERICA 0.00%
Top Ten Holdings Maturity Distribution by Type
Security Distribution 0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years 5+ Years Portfolio Total CASH $37.09 ----------------$37.09
MMFUND 5,448,609.19 5,448,609.19
US GOV 583,196.71 4,955,243.52 3,998,757.01 9,537,197.24 TOTAL $5,448,646.28 ----$583,196.71 $4,955,243.52 $3,998,757.01 ------$14,985,843.52 • Maturity Distribution
161
Item 6.

Public Trust Advisors 5
12/01/2021 to 12/31/2021
City of Beaumont, CA
Portfolio Overview
S&P Rating Distribution Moody’s Rating Distribution
Allocation by Standard and Poor’s Rating Allocation by Moody’s Rating S&P Rating Distribution Dec 31, 2021
Ending Balance
Portfolio
Allocation
Short Term Rating Distribution
A-1+$0.00 0.00%
A-1
A-2
Total Short Term Ratings $0.00 0.00%
Long Term Rating Distribution
AAA $5,448,646.28 36.36%
AA $9,537,197.24 63.64%
A
Below A
Not Rated
Total Long Term Ratings $14,985,843.52 100.00%
Portfolio Total $14,985,843.52 100.00%
Moody's Rating Distribution Dec 31, 2021
Ending Balance
Portfolio
Allocation
Short Term Rating Distribution
P-1 $0.00 0.00%
P-2
Total Short Term Ratings $0.00 0.00%
Long Term Rating Distribution
Aaa $14,985,843.52 100.00%
Aa
A
Below A
Not Rated
Total Long Term Ratings $14,985,843.52 100.00%
Portfolio Total $14,985,843.52 100.00%
• Rating Distribution
162
Item 6.

Public Trust Advisors 6
12/01/2021 to 12/31/2021
City of Beaumont, CA
Market Value Basis Security Distribution
Asset Balance by Security Type
Security Distribution Nov 30, 2021
Ending Balance
Nov 30, 2021
Portfolio Allocation
Dec 31, 2021
Ending Balance
Dec 31, 2021
Portfolio Allocation
Change in
Allocation Book Yield
Cash $37.09 0.00%0.00%0.00%
U.S. Treasury Notes $9,537,197.24 63.64%63.64%0.59%
Money Market Funds $5,448,609.19 36.36%36.36%0.01%
Portfolio Total $14,985,843.52 100.00%0.38%
Portfolio Overview
• Security Distribution – Market Value
163
Item 6.

Public Trust Advisors 7
12/01/2021 to 12/31/2021
City of Beaumont, CA
Historic Cost Basis Security Distribution
Asset Balance by Security Type
Portfolio Overview
Security Distribution Nov 30, 2021
Ending Balance
Nov 30, 2021
Portfolio Allocation
Dec 31, 2021
Ending Balance
Dec 31, 2021
Portfolio Allocation
Change in
Allocation Book Yield
Cash $37.09 0.00%0.00%0.00%
U.S. Treasury Notes $9,548,538.88 63.67%63.67%0.59%
Money Market Funds $5,448,609.19 36.33%36.33%0.01%
Portfolio Total $14,997,185.16 100.00%0.38%
• Security Distribution – Historical Cost
164
Item 6.

Public Trust Advisors 8
12/01/2021 to 12/31/2021
City of Beaumont, CA
Description
IdentifierCoupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's
CASH 0.00%
Receivable
CCYUSD

0.00%
12/31/21
12/31/21

0.00 --
--37.09 $37.09
$37.09
$37.09

1.00 $37.09
$0.00 $0.00 0.00%N
--

0.00%
--
--
AAA
Aaa

CASH TOTAL
12/31/21
12/31/21

0.00 --
--37.09 $37.09
$37.09
$37.09

1.00 $37.09
$0.00 $0.00 0.00%N
--

0.00%
--
--
AAA
Aaa
MMFUND 0.00%
FIRST AMER:TRS OBG Y
31846V807

0.01%
12/31/21
12/31/21

0.00 --
--5,448,609.19 $5,448,609.19
$5,448,609.19
$5,448,609.19

1.00 $5,448,609.19
$0.00 $0.00 36.36%N
--

0.01%
--
--
AAAm
Aaa

MMFUND TOTAL
12/31/21
12/31/21

0.00 --
--5,448,609.19 $5,448,609.19
$5,448,609.19
$5,448,609.19

1.00 $5,448,609.19
$0.00 $0.00 36.36%N
--

0.01%
--
--
AAAm
Aaa
US GOV 0.00%

UNITED STATES TREASURY
91282CBD2

0.12%
12/31/22
12/31/22

1.00 12/03/21
12/07/21 585,000.00 $583,766.02
$583,845.32
$583,194.69

99.69 $583,196.71
$2.02 ($650.63)3.89%N
--

0.32%

0.43%
--
AA+
Aaa

UNITED STATES TREASURY
91282CBN0

0.12%
02/28/23
02/28/23

1.16 12/03/21
12/07/21 585,000.00 583,308.99
583,403.35
582,600.33

99.59 582,848.79
248.46 (803.02)3.89%N
--

0.36%

0.48%
--
AA+
Aaa

UNITED STATES TREASURY
91282CBU4

0.12%
03/31/23
03/31/23

1.24 12/03/21
12/07/21 585,000.00 582,874.81
582,985.73
582,326.55

99.54 582,513.38
186.83 (659.18)3.89%N
--

0.40%

0.49%
--
AA+
Aaa

UNITED STATES TREASURY
912828ZP8

0.12%
05/15/23
05/15/23

1.37 12/03/21
12/07/21 585,000.00 582,394.92
582,519.21
581,663.74

99.43 581,758.69

94.94 (855.46)3.88%N
--

0.44%

0.54%
--
AA+
Aaa

UNITED STATES TREASURY
91282CCK5

0.12%
06/30/23
06/30/23

1.49 12/03/21
12/07/21 655,000.00 651,597.07
651,746.32
650,599.06

99.33 650,601.32

2.26 (1,147.27)4.34%N
--

0.46%

0.58%
--
AA+
Aaa

UNITED STATES TREASURY
91282CAF8

0.12%
08/15/23
08/15/23

1.62 12/03/21
12/07/21 655,000.00 650,727.15
650,900.56
649,703.67

99.19 650,012.93
309.26 (1,196.89)4.34%N
--

0.51%

0.63%
--
AA+
Aaa

UNITED STATES TREASURY
91282CCU3

0.12%
08/31/23
08/31/23

1.66 12/03/21
12/07/21 655,000.00 650,496.88
650,675.01
649,294.30

99.13 649,572.49
278.19 (1,380.71)4.33%N
--

0.52%

0.65%
--
AA+
Aaa

UNITED STATES TREASURY
91282CAW1

0.25%
11/15/23
11/15/23

1.86 12/03/21
12/07/21 655,000.00 650,727.15
650,878.03
649,678.12

99.19 649,890.73
212.60 (1,199.90)4.34%N
--

0.59%

0.69%
--
AA+
Aaa
Portfolio Holdings
Supporting Reports
165
Item 6.

Public Trust Advisors 9
12/01/2021 to 12/31/2021
City of Beaumont, CA
Description
IdentifierCoupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's

UNITED STATES TREASURY
91282CBA8

0.12%
12/15/23
12/15/23

1.95 12/03/21
12/07/21 615,000.00 608,946.09
609,151.17
608,009.30

98.86 608,045.20

35.90 (1,141.87)4.06%N
--

0.62%

0.71%
--
AA+
Aaa

UNITED STATES TREASURY
91282CBM2

0.12%
02/15/24
02/15/24

2.11 12/03/21
12/07/21 615,000.00 607,937.11
608,157.83
607,072.04

98.71 607,362.41
290.37 (1,085.79)4.05%N
--

0.65%

0.74%
--
AA+
Aaa

UNITED STATES TREASURY
91282CBR1

0.25%
03/15/24
03/15/24

2.19 12/03/21
12/07/21 615,000.00 608,946.09
609,128.66
607,744.84

98.82 608,203.55
458.70 (1,383.81)4.06%N
--

0.69%

0.79%
--
AA+
Aaa

UNITED STATES TREASURY
91282CCC3

0.25%
05/15/24
05/15/24

2.36 12/03/21
12/07/21 615,000.00 607,720.90
607,925.37
606,735.63

98.66 606,935.25
199.62 (1,189.74)4.05%N
--

0.74%

0.82%
--
AA+
Aaa

UNITED STATES TREASURY
91282CCG4

0.25%
06/15/24
06/15/24

2.44 12/03/21
12/07/21 550,000.00 543,039.06
543,228.01
542,007.95

98.55 542,072.17

64.22 (1,220.06)3.62%N
--

0.76%

0.85%
--
AA+
Aaa

UNITED STATES TREASURY
91282CCT6

0.38%
08/15/24
08/15/24

2.60 12/03/21
12/07/21 550,000.00 544,048.83
544,200.34
542,867.05

98.70 543,646.09
779.04 (1,333.29)3.63%N
--

0.78%

0.88%
--
AA+
Aaa

UNITED STATES TREASURY
91282CCX7

0.38%
09/15/24
09/15/24

2.68 12/03/21
12/07/21 550,000.00 543,576.17
543,734.70
542,351.70

98.61 542,967.03
615.33 (1,383.00)3.62%N
--

0.80%

0.90%
--
AA+
Aaa

UNITED STATES TREASURY
91282CDH1

0.75%
11/15/24
11/15/24

2.83 12/03/21
12/07/21 550,000.00 548,431.64
548,468.15
547,034.95

99.46 547,570.52
535.57 (1,433.20)3.65%N
--

0.85%

0.94%
--
AA+
Aaa

US GOV TOTAL
11/27/23
11/27/23

1.89 12/03/21
12/07/21 9,620,000.00 $9,548,538.88
$9,550,947.75
$9,532,883.92

99.10 $9,537,197.24
$4,313.32 ($18,063.84)63.64%N
--

0.59%

0.69%
--
AA+
Aaa

PORTFOLIO TOTAL
03/19/23
03/19/23

1.21 --
--15,068,646.28 $14,997,185.16
$14,999,594.03
$14,981,530.20

63.43 $14,985,843.52
$4,313.32 ($18,063.84)100.00%N
--

0.38%

0.69%
--
AA+
Aaa
Portfolio Holdings
Supporting Reports
166
Item 6.

Public Trust Advisors 10
12/01/2021 to 12/31/2021
City of Beaumont, CA
Description
Identifier
Current Units Type Trade Date Settle Date Price Principal Realized Gain/Loss
Broker Amount

UNITED STATES TREASURY
91282CAF8
655,000.00 Buy 12/03/21 12/07/21 99.348 $650,727.15 $0.00 RBC ($650,980.78)

UNITED STATES TREASURY
91282CCG4
550,000.00 Buy 12/03/21 12/07/21 98.734 543,039.06 0.00 Wells (543,696.51)

UNITED STATES TREASURY
912828ZP8
585,000.00 Buy 12/03/21 12/07/21 99.555 582,394.92 0.00 CITIGROUP (582,439.36)

UNITED STATES TREASURY
91282CBD2
585,000.00 Buy 12/03/21 12/07/21 99.789 583,766.02 0.00 Wells (584,083.95)

UNITED STATES TREASURY
91282CCT6
550,000.00 Buy 12/03/21 12/07/21 98.918 544,048.83 0.00 RBC (544,687.76)

UNITED STATES TREASURY
91282CCC3
615,000.00 Buy 12/03/21 12/07/21 98.816 607,720.90 0.00 CITIGROUP (607,814.34)

UNITED STATES TREASURY
91282CCX7
550,000.00 Buy 12/03/21 12/07/21 98.832 543,576.17 0.00 Wells (544,049.06)

UNITED STATES TREASURY
91282CCU3
655,000.00 Buy 12/03/21 12/07/21 99.313 650,496.88 0.00 Wells (650,718.53)

UNITED STATES TREASURY
91282CBA8
615,000.00 Buy 12/03/21 12/07/21 99.016 608,946.09 0.00 Wells (609,313.66)

UNITED STATES TREASURY
91282CDH1
550,000.00 Buy 12/03/21 12/07/21 99.715 548,431.64 0.00 Wells (548,682.33)

UNITED STATES TREASURY
91282CBN0
585,000.00 Buy 12/03/21 12/07/21 99.711 583,308.99 0.00 Wells (583,506.95)

UNITED STATES TREASURY
91282CBR1
615,000.00 Buy 12/03/21 12/07/21 99.016 608,946.09 0.00 CITIGROUP (609,298.61)

UNITED STATES TREASURY
91282CBM2
615,000.00 Buy 12/03/21 12/07/21 98.852 607,937.11 0.00 RBC (608,175.26)

UNITED STATES TREASURY
91282CAW1
655,000.00 Buy 12/03/21 12/07/21 99.348 650,727.15 0.00 CITIGROUP (650,826.67)

UNITED STATES TREASURY
91282CCK5
655,000.00 Buy 12/03/21 12/07/21 99.480 651,597.07 0.00 Wells (651,953.05)

UNITED STATES TREASURY
91282CBU4
585,000.00 Buy 12/03/21 12/07/21 99.637 582,874.81 0.00 CITIGROUP (583,011.42) Buy Total $9,548,538.88 $0.00 ($9,553,238.24)
Transactions
167
Item 6.

Public Trust Advisors 11
12/01/2021 to 12/31/2021
City of Beaumont, CA
Income
Description
Identifier
Final
Maturity
Current Units Interest Income Realized Gain
Realized Loss
Accretion
Income
Amortization
Expense
Misc
Income
Net Income Interest Received
Interest Due
FIRST AMER:TRS OBG Y
31846V807
12/31/21 5,448,609.19 $37.63 $0.00
$0.00
$0.00 $0.00 $0.00 $37.63 $0.54
$37.09

UNITED STATES TREASURY
912828ZP8
05/15/23 585,000.00 50.50 0.00

0.00 124.29 0.00 0.00 174.79 0.00

0.00 UNITED STATES TREASURY
91282CAF8
08/15/23 655,000.00 55.63 0.00

0.00 173.41 0.00 0.00 229.04 0.00

0.00 UNITED STATES TREASURY
91282CAW1
11/15/23 655,000.00 113.08 0.00

0.00 150.88 0.00 0.00 263.96 0.00

0.00 UNITED STATES TREASURY
91282CBA8
12/15/23 615,000.00 52.71 0.00

0.00 205.08 0.00 0.00 257.79 384.38

0.00 UNITED STATES TREASURY
91282CBD2
12/31/22 585,000.00 49.72 0.00

0.00 79.30 0.00 0.00 129.02 365.63

0.00 UNITED STATES TREASURY
91282CBM2
02/15/24 615,000.00 52.22 0.00

0.00 220.72 0.00 0.00 272.94 0.00

0.00 UNITED STATES TREASURY
91282CBN0
02/28/23 585,000.00 50.50 0.00

0.00 94.36 0.00 0.00 144.87 0.00

0.00 UNITED STATES TREASURY
91282CBR1
03/15/24 615,000.00 106.18 0.00

0.00 182.57 0.00 0.00 288.75 0.00

0.00 UNITED STATES TREASURY
91282CBU4
03/31/23 585,000.00 50.22 0.00

0.00 110.92 0.00 0.00 161.14 0.00

0.00 UNITED STATES TREASURY
91282CCC3
05/15/24 615,000.00 106.18 0.00

0.00 204.47 0.00 0.00 310.65 0.00

0.00 UNITED STATES TREASURY
91282CCG4
06/15/24 550,000.00 94.27 0.00

0.00 188.95 0.00 0.00 283.22 687.50

0.00 UNITED STATES TREASURY
91282CCK5
06/30/23 655,000.00 55.66 0.00

0.00 149.25 0.00 0.00 204.91 409.38

0.00 UNITED STATES TREASURY
91282CCT6
08/15/24 550,000.00 140.11 0.00

0.00 151.51 0.00 0.00 291.62 0.00

0.00 UNITED STATES TREASURY
91282CCU3
08/31/23 655,000.00 56.54 0.00

0.00 178.13 0.00 0.00 234.67 0.00

0.00 UNITED STATES TREASURY
91282CCX7
09/15/24 550,000.00 142.44 0.00

0.00 158.53 0.00 0.00 300.98 0.00

0.00 UNITED STATES TREASURY
91282CDH1
11/15/24 550,000.00 284.88 0.00

0.00 36.51 0.00 0.00 321.38 0.00

0.00 Receivable
CCYUSD
12/31/21 37.09 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00

0.00 Portfolio Total 03/19/23 15,068,646.28 $1,498.48 $0.00 $0.00 $2,408.87 $0.00 $0.00 $3,907.36 $1,847.43
$37.09
168
Item 6.

Public Trust Advisors 12
12/01/2021 to 12/31/2021
City of Beaumont, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
First American Funds, Inc. -
Treasury Obligations Fund
First American Funds, Inc. -
Treasury Obligations Fund
31846V807
MMFUND

36.36%

0.01%

0.01%0.00 AAAm
Aaa
12/31/21
12/31/21 5,448,609.19 $0.00 $5,448,609.19
$5,448,609.19
$5,448,609.19
$5,448,609.19
First American Funds, Inc. -
Treasury Obligations Fund 36.36%

0.01%

0.01%0.00 AAAm
Aaa 5,448,609.19 $0.00 $5,448,609.19
$5,448,609.19
$5,448,609.19
$5,448,609.19
United States Department of
The Treasury
United States Department of
The Treasury
91282CBD2
US GOV

3.89%

0.32%

0.43%1.00 AA+
Aaa
12/31/22
12/31/22 585,000.00 $2.02 $583,845.32
$583,847.34
$583,194.69
$583,196.71
United States Department of
The Treasury
91282CBN0
US GOV

3.89%

0.36%

0.48%1.16 AA+
Aaa
02/28/23
02/28/23 585,000.00 248.46 583,403.35
583,651.82
582,600.33
582,848.79
United States Department of
The Treasury
91282CBU4
US GOV

3.89%

0.40%

0.49%1.24 AA+
Aaa
03/31/23
03/31/23 585,000.00 186.83 582,985.73
583,172.56
582,326.55
582,513.38
United States Department of
The Treasury
912828ZP8
US GOV

3.88%

0.44%

0.54%1.37 AA+
Aaa
05/15/23
05/15/23 585,000.00 94.94 582,519.21
582,614.15
581,663.74
581,758.69
United States Department of
The Treasury
91282CCK5
US GOV

4.34%

0.46%

0.58%1.49 AA+
Aaa
06/30/23
06/30/23 655,000.00 2.26 651,746.32
651,748.58
650,599.06
650,601.32
United States Department of
The Treasury
91282CAF8
US GOV

4.34%

0.51%

0.63%1.62 AA+
Aaa
08/15/23
08/15/23 655,000.00 309.26 650,900.56
651,209.82
649,703.67
650,012.93
United States Department of
The Treasury
91282CCU3
US GOV

4.33%

0.52%

0.65%1.66 AA+
Aaa
08/31/23
08/31/23 655,000.00 278.19 650,675.01
650,953.20
649,294.30
649,572.49
United States Department of
The Treasury
91282CAW1
US GOV

4.34%

0.59%

0.69%1.86 AA+
Aaa
11/15/23
11/15/23 655,000.00 212.60 650,878.03
651,090.63
649,678.12
649,890.73
United States Department of
The Treasury
91282CBA8
US GOV

4.06%

0.62%

0.71%1.95 AA+
Aaa
12/15/23
12/15/23 615,000.00 35.90 609,151.17
609,187.07
608,009.30
608,045.20
United States Department of
The Treasury
91282CBM2
US GOV

4.05%

0.65%

0.74%2.11 AA+
Aaa
02/15/24
02/15/24 615,000.00 290.37 608,157.83
608,448.20
607,072.04
607,362.41
169
Item 6.

Public Trust Advisors 13
12/01/2021 to 12/31/2021
City of Beaumont, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
United States Department of
The Treasury
91282CBR1
US GOV

4.06%

0.69%

0.79%2.19 AA+
Aaa
03/15/24
03/15/24 615,000.00 458.70 609,128.66
609,587.36
607,744.84
608,203.55
United States Department of
The Treasury
91282CCC3
US GOV

4.05%

0.74%

0.82%2.36 AA+
Aaa
05/15/24
05/15/24 615,000.00 199.62 607,925.37
608,124.99
606,735.63
606,935.25
United States Department of
The Treasury
91282CCG4
US GOV

3.62%

0.76%

0.85%2.44 AA+
Aaa
06/15/24
06/15/24 550,000.00 64.22 543,228.01
543,292.23
542,007.95
542,072.17
United States Department of
The Treasury
91282CCT6
US GOV

3.63%

0.78%

0.88%2.60 AA+
Aaa
08/15/24
08/15/24 550,000.00 779.04 544,200.34
544,979.38
542,867.05
543,646.09
United States Department of
The Treasury
91282CCX7
US GOV

3.62%

0.80%

0.90%2.68 AA+
Aaa
09/15/24
09/15/24 550,000.00 615.33 543,734.70
544,350.04
542,351.70
542,967.03
United States Department of
The Treasury
91282CDH1
US GOV

3.65%

0.85%

0.94%2.83 AA+
Aaa
11/15/24
11/15/24 550,000.00 535.57 548,468.15
549,003.71
547,034.95
547,570.52
United States Department of
The Treasury 63.64%

0.59%

0.69%1.89 AA+
Aaa 9,620,000.00 $4,313.32 $9,550,947.75
$9,555,261.08
$9,532,883.92
$9,537,197.24
Portfolio Total
100.00%

0.38%

0.44%1.21 AA+
Aaa
03/19/23
03/19/23 15,068,609.19 $4,313.32 $14,999,556.94
$15,003,870.27
$14,981,493.10
$14,985,806.43
170
Item 6.

Public Trust Advisors 14
12/01/2021 to 12/31/2021
City of Beaumont, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
Cash
CCYUSD
CASH
12/31/21
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$15,000,000.00
$0.00
$0.00
$0.00
$0.00
$0.00
Receivable
CCYUSD
CASH
12/31/21

0.00 0.00

0.00 37.09

37.09 37.09
FIRST AMER:TRS OBG Y
31846V807
MMFUND
12/31/21

0.00 0.00

0.00 15,001,847.43

0.00 (9,553,238.24)

0.00 0.00

0.00 0.54

0.00 0.00

0.00 5,448,609.19
5,448,609.19
5,448,609.19

UNITED STATES TREASURY
91282CBD2
US GOV
12/31/22

0.00 0.00

0.00 583,766.02
(317.93)

0.00 0.00

0.00 0.00
365.63

0.00 0.00
(650.63)
583,766.02
583,194.69
583,845.32

UNITED STATES TREASURY
91282CBN0
US GOV
02/28/23

0.00 0.00

0.00 583,308.99
(197.96)

0.00 0.00

0.00 (803.02)
583,308.99
582,600.33
583,403.35

UNITED STATES TREASURY
91282CBU4
US GOV
03/31/23

0.00 0.00

0.00 582,874.81
(136.61)

0.00 0.00

0.00 (659.18)
582,874.81
582,326.55
582,985.73

UNITED STATES TREASURY
912828ZP8
US GOV
05/15/23

0.00 0.00

0.00 582,394.92
(44.44)

0.00 0.00

0.00 (855.46)
582,394.92
581,663.74
582,519.21

UNITED STATES TREASURY
91282CCK5
US GOV
06/30/23

0.00 0.00

0.00 651,597.07
(355.98)

0.00 0.00

0.00 0.00
409.38

0.00 0.00
(1,147.27)
651,597.07
650,599.06
651,746.32

UNITED STATES TREASURY
91282CAF8
US GOV
08/15/23

0.00 0.00

0.00 650,727.15
(253.63)

0.00 0.00

0.00 (1,196.89)
650,727.15
649,703.67
650,900.56

UNITED STATES TREASURY
91282CCU3
US GOV
08/31/23

0.00 0.00

0.00 650,496.88
(221.65)

0.00 0.00

0.00 (1,380.71)
650,496.88
649,294.30
650,675.01

UNITED STATES TREASURY
91282CAW1
US GOV
11/15/23

0.00 0.00

0.00 650,727.15
(99.52)

0.00 0.00

0.00 (1,199.90)
650,727.15
649,678.12
650,878.03

UNITED STATES TREASURY
91282CBA8
US GOV
12/15/23

0.00 0.00

0.00 608,946.09
(367.57)

0.00 0.00

0.00 0.00
384.38

0.00 0.00
(1,141.87)
608,946.09
608,009.30
609,151.17

UNITED STATES TREASURY
91282CBM2
US GOV
02/15/24

0.00 0.00

0.00 607,937.11
(238.15)

0.00 0.00

0.00 (1,085.79)
607,937.11
607,072.04
608,157.83
171
Item 6.

Public Trust Advisors 15
12/01/2021 to 12/31/2021
City of Beaumont, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

UNITED STATES TREASURY
91282CBR1
US GOV
03/15/24

0.00 0.00

0.00 608,946.09
(352.52)

0.00 0.00

0.00 (1,383.81)
608,946.09
607,744.84
609,128.66

UNITED STATES TREASURY
91282CCC3
US GOV
05/15/24

0.00 0.00

0.00 607,720.90
(93.44)

0.00 0.00

0.00 (1,189.74)
607,720.90
606,735.63
607,925.37

UNITED STATES TREASURY
91282CCG4
US GOV
06/15/24

0.00 0.00

0.00 543,039.06
(657.45)

0.00 0.00

0.00 0.00
687.50

0.00 0.00
(1,220.06)
543,039.06
542,007.95
543,228.01

UNITED STATES TREASURY
91282CCT6
US GOV
08/15/24

0.00 0.00

0.00 544,048.83
(638.93)

0.00 0.00

0.00 (1,333.29)
544,048.83
542,867.05
544,200.34

UNITED STATES TREASURY
91282CCX7
US GOV
09/15/24

0.00 0.00

0.00 543,576.17
(472.89)

0.00 0.00

0.00 (1,383.00)
543,576.17
542,351.70
543,734.70

UNITED STATES TREASURY
91282CDH1
US GOV
11/15/24

0.00 0.00

0.00 548,431.64
(250.69)

0.00 0.00

0.00 (1,433.20)
548,431.64
547,034.95
548,468.15
Portfolio Total
$0.00
$0.00
$0.00
$24,550,386.31
($4,699.36)
($9,553,238.24)
$0.00
$0.00
$0.00
$1,847.43
$15,000,000.00
$0.00
($18,063.84)
$14,997,185.16
$14,981,530.20
$14,999,594.03
172
Item 6.

Public Trust Advisors 16
12/01/2021 to 12/31/2021
City of Beaumont, CA
This information is for the sole purposes of the client and is not intended to provide specific advice or recommendations. Please review the contents of this information carefully. Should you have any questions regarding the information presented, calculation methodology, investment portfolio, security detail, or any other facet of this information, please feel free to contact us.

Public Trust Advisors, LLC (Public Trust) statements and reports are intended to detail our investment advisory activity as well as the activity of any client accounts managed by Public Trust. The custodian bank maintains the control of assets and executes and settles all investment transactions. The custodian statement is the official record of security and cash holdings transactions. Public Trust recognizes that clients may use these reports to facilitate record keeping; therefore, it is recommended that the client reconcile this information with their custodian bank statement. Many custodians use a settlement date basis that may result in the need to reconcile due to a timing difference. The underlying market value, amortized cost, and accrued interest may differ between the custodian and this statement or report. This can be attributable to differences in calculation methodologies and pricing sources used. Please contact your relationship manager or call us at (855) 395-3954 with questions regarding your account.

Public Trust does not have the authority to withdraw funds from or deposit funds to the custodian. Our clients retain responsibility for their internal accounting policies, implementing and enforcing internal controls, and generating ledger entries or otherwise recording transactions. The total market value represents prices obtained from various sources; it may be impacted by the frequency at which prices are reported, and such prices are not guaranteed. Prices received from pricing vendors are generally based on current market quotes but when such quotes are not available, the pricing vendors use a variety of techniques to estimate value. These estimates, particularly for fixed-income securities, may be based on certain minimum principal amounts (e.g. $1 million) and may not reflect all the factors that affect the value of the security including liquidity risk. The prices provided are not firm bids or offers. Certain securities may reflect N/A or unavailable where the price for such security is generally not available from a pricing source. The market value of a security, including those priced at par value, may differ from its purchase price and may not closely reflect the value at which the security may be sold or purchased based on various market factors. The securities in this investment portfolio, including shares of mutual funds, are not guaranteed or otherwise protected by Public Trust, the FDIC (except for certain non-negotiable certificates of deposit), or any government agency unless specifically stated otherwise.

Clients may be permitted to establish one or more unmanaged accounts for the purposes of client reporting. Public Trust defines an unmanaged account as one where the investment direction remains the sole responsibility of the client rather than the Investment Manager. These accounts do not receive ongoing supervision and monitoring services. The Investment Manager does not make any investment recommendations and may not charge a fee for reporting on these accounts. The primary purpose for this service is to include unmanaged accounts owned by the client in the performance reports provided by the Investment Manager. The Investment Manager assumes no liability for the underlying performance of any unmanaged accounts or assets, and it is the client’s sole responsibility for the accuracy or correctness of any such performance.

Beginning and ending balances are based on market value plus accrued interest on a trade date basis. Statements and reports made available to the end user either from Public Trust or through the online reporting platform may present information and portfolio analytics using various optional methods including, but not limited to, historical cost, amortized cost, and market value. All information is assumed to be correct, but the accuracy has not been confirmed and therefore is not guaranteed to be correct. Information is obtained from third party sources that may or may not be verified. The data in this report is unaudited and is only applicable for the date denoted on the report. Market values may change day-to-day based on numerous circumstances such as trading volume, news released about the underlying issuer, issuer performance, etc. Underlying market values may be priced via numerous aspects as certain securities are short term in nature and not readily traded. Performance results are shown net of all fees and expenses and reflect the reinvestment of dividends and other earnings.

Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal.

No assurance can be given that the performance objectives of a given strategy will be achieved. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.

The investment advisor providing these services is Public Trust Advisors, LLC, an investment adviser registered with the U.S. Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, as amended.

Registration with the SEC does not imply a certain level of skill or training. Public Trust is required to maintain a written disclosure brochure of our background and business experience. If you would like to receive a copy of our current disclosure brochure, Privacy Policy, or Code of Ethics, please contact us.

Disclaimers
Disclaimers
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Item 6.

Contact
Regional Office
550 S. Hope Street, Suite 560
Angeles
Headquarters
717 17th Street, Suite 1850
Denver, CO 80202
174
Item 6.

Staff Report

TO: City Council
FROM: Doug Story, Assistant Director of Community Services DATE January 18, 2022
SUBJECT: Consider Adopting a Resolution Waiving the Facility Use and Staff Fees at the Albert A. Chatigny Sr. Community Recreation Center (CRC) for Boy Scout Troop 322

Background and Analysis:

Boys Scouts of America, Troop 322 is a nonprofit community organization that provides opportunities to serve the community through volunteerism and provide purposeful direction to young men. These young men have a strong desire to serve and support the community of Beaumont while learning ethically valued life lessons.

Troop 322 has participated in numerous community events including Veterans Day Parade, Annual Christmas Parade, Cherry Festival, the City Clean -up Day, and Community Food Drives. They continually volunteer at City sponsored events and serve the community in various ways.

The troop is requesting a fee waiver in the amount of $960 for an annual fundraiser they would like to hold at the Albert A. Chatigny Sr. Community Recreation Center (CRC) for the annual Troop 322 taco dinner fundraiser. This annual event raises much -needed funding for the troop and is their first fundraiser since the on-set of COVID-19. These fundraisers support the troop and help the boys with activities such as camping, rank advancements, achievement awards, leadership training, and summer camp.

Fiscal Impact:

The total amount of facility use fees requested to be waived on a one time basis for this fundraising event is $960 of which $500 is for the deposit. City staff estimates the cost to prepare this report to be $98.

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Item 7.

Recommended Action:

Waive the full reading and adopt by title only, “A Resolution of the City of Beaumont Authorizing the Waiver of a One-Time Facility Use Fee at the Albert A.

Chatigny Sr. Community Recreation Center (CRC) for Boy Scout Troop 322.” Attachments:

A. Resolution
B. Facility Use Application
C. Fee Waiver Request
176
Item 7.

1 RESOLUTION NO. _______

A RESOLUTION OF THE CITY OF BEAUMONT AUTHORIZING

THE CITY MANAGER TO ACCEPT THE OFFER OF

DEDICATION FOR PARK PURPOSES
WHEREAS, SDC Fairway Canyon, LLC a Delaware corporation executed offers of dedication by the following instrument: Tract Map Number 31462-7 filed September 28, 2015 in Book 447 of Maps at Pages 17-23 for park purposes with regards to lot “149”; and WHEREAS, the improvements have been completed and are ready to accept; and WHEREAS, Government Code Section 27281 provides that instruments conveying an interest in real property to the City may not be recorded without a Certificate of Acceptance approved by the City Council; and
WHEREAS, Government Code Section 27281 also provides that the City Council may, by a resolution, authorize one or more officers to accept instruments conveying an interest in real property by executing a Certificate of Acceptance; and
WHEREAS, the City Council desires to delegate to the City Manager the authority to accept the within described real property interests on behalf of the City; and WHEREAS, a certificate of acceptance for accepting the aforementioned Lots will be recorded with the Riverside County Clerk Recorder’s Office once this resolution is adopted by City Council.

NOW, THEREFORE, BE IT RESOLVED, that the City of Beaumont does authorize accepting offers of dedication under the following instruments: Tract Map Number 31462-7 filed September 28, 2015 in Book 447 of Maps at Pages 17-23 for park purposes with regards to lot “149” (“Property”) and Grant Deed for such Property:

Provision 1. Recordation of the aforementioned certificate of acceptance shall be executed by the City Manager and recorded with the Riverside County Clerk Recorder’s Office.

177
Item 7.

2 MOVED, PASSED AND ADOPTED this ___day of January 2022.

AYES:

NOES:

ABSTAIN:

ABSENT:

By: __________ _________________, Mayor, City of Beaumont

ATTEST:

Steven Mehlman

CITY CLERK

By: _____________
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Item 7.

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Item 7.

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Item 7.

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Item 7.

Honorable Mayor Lara and Distinguished Members of the Beaumont City Council,

My name is Alicia Valdivia. I am a resident of our wonderful city and the Fundraising Committee Chair for the Boy Scouts of America, Troop 322. As many of you know the future of our community is shaped by those that volunteer and participate in leading our youth in a purposeful direction. The members of Troop 322 include young men that have a desire and passion to support the Community of Beaumont while learning ethically valued life lessons. In the past Troop, 322 has participated in the Veterans Day Parade, Annual Christmas Parade, Cherry Festival, the City Clean-up Day, and Community Food Drives. We have also participated in honor guard/flag ceremonies at the Civic Center.

As you know participation is one key role in the development of our youth. We the members of the Troop 322 leadership often try to develop ways for the boys to earn money to aid with their activities. We have traditionally utilized donated locations from various civic groups within our community. Lately, this has become a challenge, space is limited and these locations are booked.

On behalf of Troop 322 leadership, we are requesting the use of the Chatigny Center for our annual Troop 322 Taco dinner fundraiser. This annual event raises much-needed funding for the troop and is our first fundraiser since the start of COVID. We rely solely on fundraisers to support our troop and help the boys with activities such as camping, rank advancements, achievement awards, leadership training, and summer camp. We are graciously asking for the Beaumont City council for the use of the Chatigny Center and to waive the fees associated with the use. You can be assured that we will be respectful of the property, neat, and clean, and adhering to one of the core mottos “Leave no trace.” Meaning we will leave the Chatigny Center just as we found it.

Thank you for your time and consideration.

Respectfully,

Alicia Valdivia

182
Item 7.

Staff Report

TO: City Council
FROM: Jennifer Ustation, Finance Director
Lisa Leach, Assistant Finance Director
DATE January 18, 2022
SUBJECT: FY2021 Annual Comprehensive Financial Report and Report of Internal Control Over Financial Reporting

Background and Analysis:

On an annual basis the City is required to have an independent audit of its financial statements. The audit for FY2021 has been completed and is included as Attachment A.

The audit provides for an unmodified (“clean”) opinion, which means that the financial statements present fairly in all material respects to the financial condition of the City.

The audit process includes an interim period of review of internal controls and testing of transactions and year-end balances. Both processes are completed by the independent auditors.

This is the City’s first Annual Comprehensive Financial Report (ACFR). The ACFR is divided into the following sections:

 Introductory Section – includes a letter of transmittal to introduce the ACFR and provide a profile of the government and information that is useful in assessing a government’s economic condition and organizational information,

 Independent Auditor’s Report on Financial Statements – provides an opinion on the reasonable assurance about whether the financial statements as a whole are free from material misstatement,

 Management Discussion and Analysis – provides management’s discussion of the financial condition of the City and the results of operations for FY2021 ,

183
Item 8.

 Financial Statements – provides for detailed financial results of both government activities and business type activities along with the change in financial position for the City during FY2021,

 Notes to the Financial Statements – provides additional information regarding a summary of significant accounting policies including valuation of assets and liabilities,

 Supplementary Information – provides for comparative data with information from prior years, and

 Statistical Section – provides financial trends, revenue capacity, debt capacity, demographic, economic and operating information which provides a context for assessing a government’s economic condition.

Internal Control Over Financial Reporting

The auditors consider the City’s internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing their opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control.

Within this report the auditors will identify any deficiencies they encountered in their testing of internal control over financial reporting.

A deficiency in internal controls exists when the design or operation of control does not allow management or employees to prevent or detect and correct misstatements on a timely basis. There are two types of deficiencies, a material weakness and a significant deficiency. A material weakness is a deficiency that a material misstatement of the City’s financial statements will not be prevented or detected and corrected on a timely basis. A significant deficiency is a deficiency in internal control that is less severe than a material weakness.

During the audit this year, Rogers, Anderson, Malody and Scott, LLP (RAMS) identified two new significant deficiencies, one was related to segregation of duties and the other was on adherence to the investment policy. There were two carryover deficiencies that addressed one deficiency as having been corrected and the other that had not been corrected since the last audit. In the draft report that is provided it will be noted by management that the two new deficiencies have been addressed and new procedures and reporting have been implemented. The carryover finding has also been addressed and is in the process of correction.
184
Item 8.

Finance and Audit Committee Review

The Finance and Audit Committee met on December 20, 2021, and January 10, 2022, to review and discuss the drafts of these reports and it was recommended to move forward to the City Council once they were in final form.

Fiscal Impact:

City staff estimates the cost to prepare this report to be $175.

Recommended Action:

Receive and file the FY2021 Annual Comprehensive Report and associated reports.

Attachments:

A. FY2021 Annual Comprehensive Financial Report
B. FY2021 SAS114 Letter
C. FY2021 Report on Internal Control Over Financial Reporting D. Rogers, Anderson, Malody & Scott, LLP Presentation
185
Item 8.

City of Beaumont

Beaumont, California

Annual Comprehensive Financial Report

For the Year Ended June 30, 2021
186
Item 8.

City of Beaumont, California

ANNUAL COMPREHENSIVE

FINANCIAL
REPORT

For the fiscal year ended June 30, 2021

Prepared by the Finance Department

Jennifer Ustation, Finance Director
Lisa Leach, CPA, Assistant Finance Director
Jacqueline Miranda, Accounting Technician
Tara Astran, Budget Specialist
Justine Wickman, Accounting Technician
187
Item 8.

City of Beaumont
Annual Comprehensive Financial Report
For the Year Ended June 30, 2021

Table of Contents

188
Item 8.

This page intentionally left blank.
189
Item 8.

CITY OF BEAUMONT

Annual Comprehensive Financial Report
For the Year Ended June 30, 2021

Table of Contents

Page

INTRODUCTORY SECTION

Letter of transmittal i
Principal Officers x
Organization chart xi

FINANCIAL SECTION

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

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

Basic Financial Statements

Government-Wide Financial Statements:

Statement of Net Position ..................................................................................................16 Statement of Activities .......................................................................................................18

Fund Financial Statements:

Governmental Fund Financial Statements:

Balance Sheet - Governmental Funds ............................................................................21 Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position ...................................................23 Statement of Revenues, Expenditures, and Changes in Fund Balances .......................24 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities .....26

Proprietary Fund Financial Statements:

Statement of Net Position ...............................................................................................28 Statement of Revenues, Expenses, and Changes in Net Position ................................29 Statement of Cash Flows ...............................................................................................30

Fiduciary Fund Financial Statements:

Statement of Fiduciary Net Position ...............................................................................33 Statement of Changes in Fiduciary Net Position ............................................................34

Notes to the Basic Financial Statements ..........................................................................37

Required Supplementary Information (Unaudited):

Budgetary Information ........................................................................................................92 Budgetary Comparison Schedule – General Fund ............................................................93

190
Item 8.

CITY OF BEAUMONT

Annual Comprehensive Financial Report
For the Year Ended June 30, 2021

Table of Contents (Continued)

Page
FINANCIAL SECTION (continued)

Required Supplementary Information (Unaudited) (continued):

Budgetary Comparison Schedule – Community Facilities Districts (CFD) Special Revenue Fund ...................................................................................................94 Budgetary Comparison Schedule – Development Impact Fees (DIF) Special Revenue Fund ...................................................................................................95 Schedule of Proportionate Share of the Net Pension Liability and Related Ratios ............96 Schedule of Pension Plan Contributions ............................................................................98

Supplementary Information:

Major Governmental Funds:

Budgetary Comparison Schedules
Community Facilities District (CFD) - Capital Projects Fund ........................................100 General Capital Projects - Capital Projects Fund .........................................................101 Beaumont Financing Authority - Debt Service Fund .....................................................102

Non-Major Governmental Funds:

Combining Balance Sheet ...............................................................................................103 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ......106 Budgetary Comparison Schedules
State Gas Tax Fund ......................................................................................................109 Road Maintenance and Rehabilitation Act Fund ...........................................................110 Measure A Fund ............................................................................................................111 AB 2766 Fund ...............................................................................................................112 PEG Fees Fund .............................................................................................................113 Other Federal Grants Fund ...........................................................................................114 COPS Grand Fund ........................................................................................................115 State Asset Seizure Fund ..............................................................................................116 Other Special Revenue Fund ........................................................................................117

Fiduciary Funds:

Combining Statement of Fiduciary Net Position ...............................................................118 Combining Statement of Changes in Fiduciary Net Position ...........................................119

191
Item 8.

CITY OF BEAUMONT

Annual Comprehensive Financial Report
For the Year Ended June 30, 2021

Table of Contents (Continued)

Page

STATISTICAL SECTION (UNAUDITED)

Net Position by Component 120
Changes in Net Position ..........................................................................................................122 Governmental Activities Tax and Assessments Revenues by Sources ...................................126 Fund Balances of Governmental Funds ..................................................................................127 Changes in Fund Balances of Governmental Funds ...............................................................129 General Fund Tax Revenue by Source ...................................................................................131 Top 25 Sales Tax Producers ...................................................................................................132 Taxable Sales by Category ......................................................................................................134 Assessed Value and Estimated Actual Value of Taxable Property ..........................................135 Direct and Overlapping Property Tax Rate ..............................................................................136 Principal Property Taxpayers ...................................................................................................137 Property Tax Levies and Collections .......................................................................................138 Ratios of Outstanding Debt by Type ........................................................................................139 Direct and Overlapping Governmental Activities Debt .............................................................140 Computation of Legal Debt Margin ..........................................................................................142 Pledge Revenue Coverage ......................................................................................................144 Demographic and Economic Statistics ....................................................................................145 Principal Employers .................................................................................................................146 Full-Time Equivalent City Governmental Employees by Function ...........................................147 Operating Indicators by Function .............................................................................................148 Capital Assets Statistics by Function .......................................................................................149

192
Item 8.

City of Beaumont | 550 E. 6th Street, Beaumont, CA 92223 | (951) 769‐8520 | BeaumontCA.gov

January 12, 2022

To the Honorable Mayor, Members of the City Council, and the Citizens of Beaumont:

It is with great pleasure that we present to you the City of Beaumont’s (City’s) audited Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2021. The financial statements within this report are presented in conformity with the generally accepted accounting principles (GAAP) and have been audited in accordance with generally accepted auditing standards (GAAS) and Government Auditing Standards (GAGAS) by an independent certified public accounting firm.

The ACFR includes the financial activity for all funds of the City, Financing Authority, Public Improvement Authority and Fiduciary Funds. The report is organized into three major sections which include the Introductory Section, the Financial Section, and the Statistical Section.

Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal controls established for this purpose, which include an array of administrative procedures. These controls are designed to provide reasonable, but not absolute, assurance to safeguard City assets against loss from unauthorized use or disposition, as well as the reliability of financial records for accurate and fair presentation of financial reports. The concept of reasonable assurance recognizes that the cost of specific controls should not exceed the benefits likely to be derived from exercising the controls, and that this evaluation involves estimates and judgements by management. It is believed that the City’s internal accounting controls adequately safeguard City assets and provide reasonable assurance of proper recording of financial transactions.

Rogers, Anderson, Malody & Scott, LLP, Certified Public Accountants, have issued an unmodified (“clean”) opinion on the City of Beaumont’s financial statements for the year ended June 30, 2021.

The independent auditor’s report is located at the front of the financial section of this report.

Management’s discussion and analysis (MD&A) immediately follows the independent auditor’s report and provides a narrative introduction, overview, and analysis of the basic financial statements. The MD&A complements this letter of transmittal and should be read in conjunction with it.

PROFILE OF THE GOVERNMENT

Beaumont was incorporated on November 18, 1912, is located 79 miles east of Los Angeles, 111 miles northeast of San Diego and 28 miles west of Palm Springs. Beaumont’s incorporated area encompasses two of the region’s most important highway interchanges, IH-10 and SR-60 and IH- 10 and SR-79. Beaumont (beautiful mountain), originally the community of the San Gorgonio Pass, began its roots as an ideal route for the transport of goods and services from the Missouri River to the Pacific Ocean. The Pass Area remains an important route for the transportation of 193
Item 8.

goods and services from the West Coast today. Since the early 2000s Beaumont has undergone a major building boom and for several years has remained one of the fastest growing cities in Riverside County, mainly due to its housing affordability and convenient proximity to major urban centers. Beaumont’s median income is $84,105 which is 14.8% higher than the average for Riverside County.

As presented in the ten-year population
history chart, Beaumont’s population has
significantly increased over the past 10 years.

The 2020 US Census estimated the
population to be 52,686. The California
Department of Finance now estimates the
2021 population has grown to 54,937, an
increase of 2,251 from 2020 (4.27% growth).

Beaumont is a “general law” city governed by a city council/city manager form of government.

Within the City are multiple special districts which are separate entities with their own, duly elected governing boards. Beaumont is governed by a 5-member City Council, from which the Mayor and the Mayor Pro tempore are selected annually. The City Council appoints the City Manager, who is responsible for the daily operations of all City departments, and the City Attorney.

The City’s operating departments are City Council, City Clerk, Administration, Finance/Budget, Community Development, Community Services, Public Safety, Public Works, Transit, and Wastewater.

Basic local governmental services are provided including police, fire protection (through contract with Riverside County), maintenance and construction of public improvements, cultural, recreation, planning, zoning, transportation, sewer, and general administration. Financial administration of the City is the responsibility of the Finance Director, who supervises the City’s fiscal administration and includes the day-to-day accounting, budgetary and reporting compliance, revenue and cash management, and debt administration operations.

THE REPORTING ENTITY

The ACFR includes all activities carried out by the City as a legal entity, including the activities of the Beaumont Successor Agency, Beaumont Utility Authority (BUA), Beaumont Financing Authority (BFA), Beaumont Parking Authority (BPA), and the Beaumont Public Improvement Authority (BPIA). The City is financially accountable for each of these authorities as specified by the guidance of the Governmental Accounting Standards Board (GASB).

ACCOUNTING SYSTEMS AND BUDGETARY CONTROL

The City’s fund accounting records are maintained using a modified accrual basis of accounting, as explained in the Notes to the Financial Statements, and is subject to the accounting practices for governmental units as mandated by (GASB). Basic City operations are accounted for in the City’s 0 20,000
40,000
60,000
20112012201320142015201620172018201920202021City of Beaumont Population History
194
Item 8.

iii

General Fund, with other activities accounted for in separate funds as required by law or determined by management discretion.

The Government-Wide financial statements (Statement of Net Position and Statement of Activities) follow the accrual basis of accounting. As required by GASB, an accompanying summary reconciliation schedule is presented following the Governmental fund financial statements. These reconciliation schedules are presented on pages 23 and 26 in the body of the financial statements.

The Finance Director is charged with the responsibility for the receipt and disbursement of all monies and to maintain control over all expenditures to ensure that budget appropriations are not exceeded. The level of budgetary control, that is the level at which expenditures are not to exceed Council approved appropriations, is established at the fund and department level. The City Manager has authority to amend the budget within a departmental appropriation; however, changes in employee counts must be approved by the City Council. Adjustments at the object level within major categories of expenditures are permissible at the department level, however, adjustments involving transfers between major categories of expenditures, between departmental and division budgets, or between departments within the same fund, require Finance Director recommendation and City Manager approval. All appropriations lapse at year-end and become available for re- appropriation the following year through the appropriate budgetary process, upon recommendation by the City Manager for City Council consideration.

SIGNIFICANT EVENTS AND ACCOMPLISHMENTS

Economic Development

The City completed a retail market analysis and identified its retail trade area. Proactive retail recruitment strategies have been implemented utilizing data from market analysis. The City also established the Beaumont Business Resource Center page on the City’s website. This webpage provided businesses with information about safety measures and mandates, funding opportunities from various sources, and business counseling. Business surveys were conducted to determine business needs during the pandemic. In order to help local restaurants, weather the COVID-19 pandemic, Beaumont established policies to facilitate outdoor dining and related services.

Beaumont also launched a Stay Safe Pledge to maintain public confidence in local retail establishments. A small business assistance grant program was implemented to provide financial assistance to local businesses who could demonstrate financial losses due to the COVID-19 pandemic and cumulatively awarded $123,000 in grants relief to qualified businesses.

Community Development

Beaumont adopted the 2040 General Plan Update which was a major update to the 2007 General Plan. The update was recognized by the American Planning Association and awarded the 2021 Comprehensive Plan Small Jurisdiction Award. The City also completed a Downtown Area Plan that provides a detailed vision, guiding principles, and goals and policies for the City’s historic core. It recognizes the importance of this area to the identity of the community and is the guiding document for the revitalization and redevelopment of the downtown core. 195
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Public Safety

In Fiscal Year 2020/2021, Beaumont Police Department expanded the K9 Program to include a second canine handler and a canine. This team is a dedicated asset for the Patrol Division and should prove vital to the safety of sworn personnel and the community. This was accomplished by the Beaumont PD Administration, with support from the Beaumont City Council and City Manager. Updated BPD policy was administered, a dedicated budget was established, canine handler interviews were conducted, and canine testing was administered. Equipment, training, vehicle outfit and miscellaneous purchases have been made to accommodate the on-boarding of the second canine team. The Beaumont Police department has made a conscious effort to save costs by retrofitting an existing new model/low mileage vehicle.

Public Works

The City of Beaumont Public Improvement Program included the fiscal year 2019/2020 Street Rehabilitation Project and fiscal year 2020/2021 Mid-Year Street Maintenance Project. To date, 79 lane miles of road have been rehabilitated with more than 50 lane miles planned in the next two years. The City is currently in the final design and the draft environmental document preparation for the Pennsylvania Avenue interchange which currently hosts a westbound off-ramp and eastbound on-ramp only. Pennsylvania Avenue’s two lanes of traffic intersect with the Union Pacific Railroad at an at-grade intersection south of the I-10 freeway. Two existing grade separations within the vicinity of the project at Beaumont Avenue and Highland Springs Avenue experience a high volume of traffic due to regional commuters and shoppers. In order to avoid congestion at these locations, an increasingly high volume of vehicles are using Pennsylvania Avenue. The first phase of the project will be widening Pennsylvania Avenue to four lanes between First Street and Sixth Street and will also include protected dual turns from northbound Pennsylvania Avenue to westbound Sixth Street. Construction of the widening is set to begin in early 2022 and is expected to take 6-9 months to complete.

LOCAL ECONOMY AND PROSPECTS FOR THE FUTURE

As presented in the 2040 General Plan Update, the City will support downtown revitalization as well as growth and business expansion in targeted industries that include healthcare, retail, and technology-based industries. Beaumont has continued to experience growth in its retail, commercial and industrial sectors. The City is approximately 50% built out and has significant land available to add to its numerous retail anchors that include Walmart, Home Depot, Kohls and Ross Dress for Less. The community has also experienced growth in its commercial and industrial sectors with the most recent addition being an Amazon fulfillment center. Amazon joins other major employers like Perricone Juices, Icon Health and Fitness, Wolverine, and CJ Foods. Work is underway on a new industrial building of approximately 700,000 square feet in the Hidden Canyon area in the central portion of the City. Amazon provides much of the economic base of the community through the employment of the local labor force within its 640,000 square-foot fulfillment center. Due to Beaumont’s prime location, available land, and growing population base it is anticipated that it will remain attractive to future commercial and industrial prospects.

Planning policies have been adopted to support balanced growth to achieve fiscal sustainability while maintaining a high quality of life. These policies are in concert with the City Council’s 196
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official goals and objectives in the areas of public safety, quality of life, economic development, sustainable community, and intergovernmental/interagency relationships.

In 2021, the median price of a home in Beaumont was $447,000, an increase of $67,000 or 17.63% from $380,000 in 2020, according to the Riverside County Recorder via HDL, Coren & Cone.

Prior to 2021, the peak median price of $396,500 was reported for 2006. The 2021 median value represents a 12.7% increase from that peak. After several years of fluctuations in home values due to uncertain economic conditions, Beaumont has seen a steady increase in home prices from 2016 thru 2021. Beaumont continues to see a steady pace in new, single-family residential development which is expected to continue over the next couple of years. This growth is expected to continue attracting skilled and educated residents who are expanding the local workforce with the requisite skills to meet the City’s economic development objectives.

The Sales Tax History chart is a ten-year
historical presentation of the City’s sales tax
revenue through fiscal year ending June 30,
2021. In 2021, the City received $7,552,253
in sales tax revenues, an increase of 14.53%
or $958,623 from $6,593,630.

As with most California communities, a large
portion of General Fund revenues are derived
from sales and use tax receipts. Continued
growth in the retail and commercial sectors
will be critically vital to the long-term fiscal
health of the community. A retail-oriented
economic development program has been
launched to expand local business and attract
new prospects. Existing, entitled land exists
for significant expansion of the retail center
at Highland Springs and Second Street with
other vacant sites at key locations being
targeted for retail-specific economic
development recruitment.

The Property Tax History chart is a ten-year
historical presentation of the City’s property
taxes through fiscal year ending June 30,
2021. As shown here, property tax
collections decreased in 2014 due to the
Great Recession but have steadily increased
since 2015. On June 30, 2021, property tax
revenues were reported at $6,991,565, a net
increase of $881,941 or 14.44% from fiscal
year 2020 due to increased residential,
commercial and industrial new accessed
value as well as increasing property values.

Overall property tax revenues are showing signs of growth as valuations increase and vacant land continues to be improved. The primary growth in assessed valuations continues to be in the single- family residential sector which accounted for a 10% increase in property transfer tax from ‐
2,000,000
4,000,000
6,000,000
8,000,000
201320142015201620172018201920202021
City of Beaumont
Property Tax History
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in 2020 to $393,738 in 2021. With demand high and inventory low the value of existing homes has increased in response to market conditions
.

In fiscal year 2004/2005, as part of the
California Governor’s Budget/Constitutional
Protection Package, a Vehicle License Fee
(VLF) program was implemented. The
program provides for the exchange of the
current VLF backfill from the State’s general
fund for an equivalent amount of property tax
revenues in FY2004/2005. Any future
growth in VLF revenue would be calculated
in proportion to growth in gross assessed
valuation. As presented in the ten-year
history chart, VLF has steadily increased
since fiscal year 2011/2012. In fiscal year
2020/2021, the City collected $5,709,914 in
VLF revenue, an increase of $712,062 or

14.25% due to an increase in property values
within the City.

ACTUAL OPERATING RESULTS – GENERAL FUND

The following discussion summarizes the annual operating results of the City’s General Fund, for the fiscal year ended June 30, 2021. Further details are presented in the individual financial statements attached to this transmittal letter. The ten-year General Fund History chart reflects the total revenues, expenditures, and net change in fund balance for the General Fund through June 30, 2021. The net change in fund balance figure in the chart includes operating revenues, operating expenditures, transfers to and from other funds, and proceeds from the sale of capital assets. The City Council committed $2,750,000 to fund future capital improvement projects and committed $2,500,000 to address the increasing unfunded pension liability (UAL) for miscellaneous and safety employees with CalPERS. For further detail and breakdown, please refer to the management’s discussion and analysis, the notes and statistical section of these financial statements.

ANNUAL OPERATING RESULTS – ENTERPRISE FUNDS

The City accounts for its Wastewater and Transit operations on an “enterprise” basis, meaning that the activity is treated more like a commercial business, separate and apart from the general City operations. In FY 2020/2021, Enterprise Fund operating revenues for Sewer and Transit combined, totaled $10,968,734, an increase of $265,610 or 2.48% over FY2020/2021, while operating expenses increased by $343,198 or 2.23%, over the same period. For further detail and breakdown, please refer to the management’s discussion and analysis and the statistical section of these financial statements.
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vii

Wastewater Operations

For Wastewater Operations specifically, the Wastewater fund operating expenses exceeded operating revenues by $1,761,943, mainly attributable to three new added positions. Last fiscal year the Wastewater fund showed an operating deficit of $1,628,082. Interest expense increased $894,728 which pertains to the debt service payment on the 2018 Wastewater Revenue Bonds issued to fund construction of a new wastewater treatment plant and a pipeline to send concentrated wastewater to the Orange County Sanitation District (OCSD). The wastewater treatment plant construction is in its final stage of construction and is expected to be completed within FY2021/2022. The OCSD pipeline has been completed and is in operation. For further detail and breakdown, please refer to the management’s discussion and analysis and statistical section of these financial statements.

Transit Operations

For Transit Operations specifically, the Transit fund operating expenses exceeded operating revenues by $3,030,110, which is not uncommon as the Transit system is heavily subsidized by the Riverside County Transportation Commission (RCTC). The transit system is subject to the provisions of the California Public Utilities Code §99268.3 and must maintain a minimum farebox recovery ratio of 10%, meaning operational revenue needs to be at least 10% of the systems expenses. Due to the COVID-19 pandemic, ridership has dramatically decreased and on June 29, 2020, the Governor of California signed Assembly Bill 90, which prohibits the imposition of a penalty on operators that do not maintain the required ratio of fare revenues to operating costs during fiscal years 2019-20 or 2020-21. For further detail and breakdown, please refer to the management’s discussion and analysis and statistical section of these financial statements.

PENSION FUNDING STATUS

The City provides its full-time and certain part-time employees retirement and disability benefits through four defined California Public Employees’ Retirement System (CalPERS) benefit pension plans: Classic Miscellaneous, Public Employees’ Pension Reform Act (PEPRA) Miscellaneous, Classic Safety and PEPRA Safety. The City makes required employer contributions to the plans based on the amounts determined by CalPERS actuaries. All City employees pay their required employee contributions based on the employees’ group/individual retirement plan formulas. In FY2020/2021, the City made $3,228,952 in employer pension costs and contributions to PERS.

The notes to the financial statements are based on the measurement date of the last actuarial which is June 30, 2020. In FY2020/2021, the “City’s” share of retirement costs increased for Miscellaneous employees from 14.398% to 15.445%, for Miscellaneous PEPRA from 6.985% to

7.732%, for Safety from 21.927% to 23.674%, and for Safety PEPRA from 13.034% to 13.044%.

The reason for the changes in the City’s (employer) share of retirement costs is due to changes in pool asset values and differences between the projected rate of return versus the actual returns on pooled assets. At the December 21, 2016, meeting, the CalPERS Board of Administration approved lowering the CalPERS discount rate of assumption, the long-term rate of return, from

7.5% to 7.0% over the following three years. For further detail and breakdown, please refer to the management’s discussion and analysis, the notes, certain required supplementary information, and statistical section of these financial statements.
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viii

Lowering the discount rate has resulted in plans seeing increases in both the normal costs and the unfunded actuarial liabilities. This has also impacted PEPRA plan members who have paid increased contribution rates. This assumption change has increased public agency employer contribution costs in FY2020/2021. Please see Note 10 of the notes for further information.

Debt Administration

As of June 30, 2021, the City had outstanding capital leases in the amount of $251,984. The Successor Agency has a remaining balance of $775,912 from an agreement with the State of California, Department of Finance (State) to pay an outstanding amount due from the State’s Due Diligence Review. The City’s blended component units, the Beaumont Financing Authority and the Beaumont Public Improvement Authority, have outstanding bond debt in the amount of $79,681,849. The Wastewater fund has outstanding amount due from the 2018 Wastewater Revenue Bonds of $78,860,000 and $7,842,648 of Bond Premium, as well as $99,305 in Capital Leases. Additional information regarding long-term liabilities is presented in Note 6 of the financial statements. Non-City obligations are discussed in Note 7 of the financial statements which are not legal obligation of the City and therefore not included here.

INDEPENDENT AUDIT

An independent audit of the City’s records was performed for the year ended June 30, 2021, by the certified public accounting firm Rogers, Anderson, Malody & Scott, LLP. The auditor’s report on the basic financial statements (government-wide financial statements and the fund financial statements), the notes to the basic financial statements and supplementary information is included in the Financial Section of the ACFR.

In general, the auditors concluded that the basic financial statements and supplementary information referred to above present fairly, in all material respects, the financial position of the City of Beaumont, Beaumont Successor Agency, Beaumont Financing Authority and the Beaumont Public Improvement Authority, as of June 30, 2021, and the results of its operations and cash flows of its proprietary fund types for the year ended in accordance with accounting principles generally accepted in the United States of America. The professionalism and knowledge by Rogers, Anderson, Malody & Scott, LLP during the audit is appreciated.

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CITY OF BEAUMONT

PRINCIPAL OFFICIALS

Elected Officials

Lloyd White
Mayor

Julio Martinez III Mike Lara
Mayor Pro Tem Council Member

David Fenn Rey SJ Santos
Council Member Council Member

APPOINTED OFFICIALS

Todd Parton
City Manager

John Pinkney
City Attorney

Steven Mehlman ............................................................................................................ City Clerk Nicole Wheelwright ............................................................................................ Deputy City Clerk Baron Ginnetti ......................................................................................................... City Treasurer Siomara Giroux .............................................................................................. Executive Assistant Kristine Day ............................................................................................... Assistant City Manager Kari Mendoza .............................................................................. Administrative Services Director Sean Thuilliez ........................................................................................................ Chief of Police Jennifer Ustation ................................................................................................. Finance Director

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xi
City of Beaumont
Organizational Chart

City Council
Members (5)
City Attorney City Clerk
Community
Development
Public Info
Officer
Administrative
Services
Director
Community
Services
Chief of
Police
Waste Water
Department
Economic
Development
Finance
Director
Public Works
Engineering
City Manager City
Treasurer
Assistant City
Manager
Deputy City
Clerk

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1 Independent Auditor’s Report

To the Honorable Mayor and Members
of the City Council of the
City of Beaumont
Beaumont, California

Report on the Audit of the Financial Statements

Opinions

We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Beaumont (the City), as of and for the fiscal 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.

In our opinion, the accompanying financial statements 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, 2021, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions

We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Responsibilities of Management for the Financial Statements

The City’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
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2 In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

 Exercise professional judgment and maintain professional skepticism throughout the audit.
 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks.

Such procedures include examining on a test basis, the evidence regarding the amounts and disclosures in the financial statements.
 Obtain an understanding of internal control relevant to the audit 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, no such opinion is expressed.
 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

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3 Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, and schedules as listed in the table of contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, 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 appropriate 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 United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing 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.

Supplementary 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 accompanying supplementary information 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 accompanying supplementary information 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. In our opinion, the supplementary information is fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Information included in the Annual Report

Management is responsible for the other information included in the annual report. The other information comprises the introductory section and statistical section but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

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4 Emphasis of Matter

As discussed in Note 1 of the financial statements, the City adopted the provisions of GASB Statement No. 84, Fiduciary Activities. Our opinion is not modified in respect to this matter.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated January 12, 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 solely 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 internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

San Bernardino, California
January 12, 2022

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5 MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of the City of Beaumont’s financial performance provides an overview of the City’s financial activities for the fiscal year ended June 30, 2021. Please read it in conjunction with the accompanying transmittal letter and the accompanying basic financial statements.

FINANCIAL HIGHLIGHTS

 In the Government-Wide – Statement of Net Position: The City’s assets and deferred outflows of resources exceeded its liabilities and deferred inflows of resources by $471,873m (net position); of this amount $333,430m is from governmental activities and $138,443m is from business-type activities, with $12,223m positive and $3,071m positive unrestricted net position, respectively.

 In the Government-Wide – Statement of Activities: The City’s net position increased 2.61% or $12,015m from the $460,199m at the beginning of the year, to $471,873m at the end of the year.

The increase is the net result of positive changes of $15,585m in governmental activities and negative changes of $3,570m in business-type activities.

 In the Government-Wide – Statement of Activities: During the current year, Governmental activities program revenues increased by $10,516m due to a steady increase in charges for services of $218k, in addition, to an increase of combined operating/capital contributions and grants of $2,489m and a $7,808m increase in capital grant and contributions. Business-type program revenues decreased by a net $6,202m due to a decrease in operating grants and contributions of $977k in the transit fund and a decrease of $5,482m, in capital grant and contributions in all enterprise funds.

 In the Governmental Fund – Statement of Revenues, Expenditures, and Changes in Fund Balance:

During the year, the General Fund reported a negative net change in fund balance of $670k, due to $3,785m of expenditures over revenues combined with other financing sources of $3,114m, with the majority being $3,111m of reserve funds used for street and infrastructure capital improvement projects.

 In the Required Supplementary Information – Budgetary Comparison Schedule: For the General Fund, the actual revenues available for appropriation were more than the final budget by $3,268m, while actual expenditures were $1,188m less than the final budget. Net actual other financing sources were $460k less than the final budget, resulting in a positive $3,995m net change in budgetary variance and an actual negative fund balance change of $671k.

 In the 2020/2021 Adopted Budget – the City Council and management annually make great efforts to adopt a balanced budget that preserves general fund - fund balance. This year City Council adopted a General Fund budget which is projected to have a negative change in net position of $563k. Overall, the General Fund maintains a solid financial position with committed funds of $2,000m (emergency contingency) and assigned funds of $1,250m (capital equipment replacement). In the adopted budget for fiscal year 2020/2021, committed fund balance represent

9.9% of the General Fund annual budget.

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6 USING THIS ANNUAL REPORT

The discussion and analysis is intended to serve as an introduction to the City of Beaumont’s basic financial statements. The basic financial statements consist of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements.

The government-wide statements provide information about the activities of the City as a whole and present a longer-term view of the City’s finances. These statements consist of the statement of net position and statement of activities.

The fund financial statements, which consist of the governmental funds, proprietary funds, and fiduciary funds, report the City’s operations in more detail than the government-wide statements by providing information about the City’s most significant (major) funds. The governmental fund statements also tell how City services were financed in the short term as well as what remains for future spending. The proprietary funds statements use the same accounting method as the business-type activities but provide more detail of the activities. The fiduciary fund statements provide financial information about activities for which the City acts solely as a trustee or agent for the benefit of those outside of the government.

Reporting the City as a Whole

The Government-Wide Financial Statements

One of the most important questions asked about the City’s finances is, “Is the City as a whole better off or worse off as a result of this year’s activities?” The statement of net position and the statement of activities report information about the City as a whole and about its activities in a way that helps answer this question.

These statements include all assets and liabilities using the accrual basis of accounting, which is like the accounting used by most private-sector companies. All the current year’s revenues and expenses are considered regardless of when cash is received or paid.

These two statements report the City’s net position and changes in it. The reader can think of the City’s net position - the difference between assets, deferred outflows of resources, deferred inflows of resources and liabilities - as one way to measure the City’s financial health. Over time, increases or decreases in the City’s net position is one indicator of whether its financial health is improving or deteriorating. However, to assess the overall health of the City the reader will need to consider other non-financial factors, such as changes in the City’s property tax base and the condition of the City’s roads and other infrastructure.

The statement of net position and the statement of activities present information about the following:

 Governmental activities - All the City’s basic services are governmental activities, including general government, community development, public safety and public works. General revenues, including property taxes, motor vehicle in lieu, sales taxes, and franchise fees, finance 64% of these activities.

 Business-type activities – All Proprietary Funds (enterprise funds), wastewater, wastewater capital, wastewater developer impact fees, recycling water impact fees, transit, and transit capital, which receive funding through charges for services and developer contributions.

 Component units - The City’s governmental activities include the Beaumont Financing Authority (BFA) and the Beaumont Public Improvement Authority (BPIA).

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7 Reporting the City’s Most Significant Funds

Fund Financial Statements

The fund financial statements provide detailed information about the most significant funds - not the City as a whole. Some funds are required to be established by State Law and by bond covenants. However, the City Council establishes many other funds to help it control and manage money for specific purposes or to show that it is meeting legal responsibilities for using certain taxes, grants, and other money. The City’s three kinds of funds – governmental, proprietary, and fiduciary - use different accounting approaches.

Governmental funds - Most of the City’s basic services are reported in governmental funds, which focus on how money flows into and out of those funds and the balances left at year-end that are available for spending. These funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted into cash. The governmental fund statements provide a detailed short-term view of the City’s general government operations and the basic services it provides. Governmental fund information helps determine whether there are more or fewer financial resources that can be spent in the near future to finance the City’s programs. We describe the relationship (or differences) between governmental activities (reported in the statement of net position and the statement of activities) and governmental funds in a reconciliation schedule accompanying the fund financial statements.

The City of Beaumont maintains forty individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental statement of revenues, expenditures, and changes in fund balances for the General Fund, Beaumont Financing Authority/Beaumont Public Improvement Authority, Community Facilities District (CFD), Development Impact Fees (DIF), Community Facilities District (CFD) Capital Projects Fund and General Capital Projects Fund, which are major funds.

The remaining eleven nonmajor funds are combined and presented in the nonmajor governmental funds column. Individual fund detail for the nonmajor funds is presented in the combining statements located on pages 103-108 of this report.

Proprietary funds - When the City charges customers for certain services it provides, these services are generally reported in proprietary funds. There are two types of proprietary funds: enterprise fund (business- type activities) and internal service funds (internal allocation of costs). Proprietary funds are reported on the full accrual basis of accounting, which is the same method that all activities are reported in the statement of net position and the statement of activities.

The City of Beaumont maintains eight enterprise funds to account for Wastewater (Four funds), Transit (Three funds) and one Internal Service Fund. The Wastewater and Transit funds are major funds and as such detail activity is presented in the statement of net position, statement of revenues, expenses and changes in net position, and statement of cash flows on pages 28-31.

Fiduciary Funds - The City is the trustee, or fiduciary, for certain amounts held on behalf of developers, property owners, and others. The City acting as Successor Agency to the Former Beaumont Redevelopment Agency (Successor Agency) is the trustee, or fiduciary, for amounts held on behalf of bond holders, enforceable obligations, and taxing entities The City’s fiduciary activities are reported in separate statement of fiduciary net position and changes in fiduciary net position. We exclude these activities from the City’s other financial statements because the City cannot use these assets to finance its operations.

The City is responsible for ensuring that the assets reported in these funds are used for their intended purposes. The statement of fiduciary net position and statement of changes in fiduciary net position can be found on page 33-34.

Notes to the financial statements – Additional information that is crucial to a full understanding of the figures provided in the government-wide and fund financial statements is provided in the notes to the financial statements. The notes to the financial statements can be found on pages 35-91 of this report.

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8 Required supplementary information - The budget and budgetary accounting and postemployment benefit plans information can be found on pages 92-99 of this report.

Government-Wide Financial Analysis

Our analysis focuses on the net position (Table 1) and changes in net position (Table 2) of the City’s governmental and business-type activities reported in the government-wide statements.

Net Position

As shown in Table 1, the City’s net position from governmental activities increased 4.9% from $317,846m to $333,430m. The $15,584m positive change in net position is the result of a negative $21,454m in program operations, netted with $37,039m in general revenues. In the business-type activities the decrease was

2.58% or $3,569m, net position changed from $142,011m to $138,441m, the net result of a negative $4,524m position change from operations and a positive $954k in general revenues. These changes are recorded in the statement of activities (Table 2) which flows through to the statement of net position.

Governmental Activities Business-type Activities Total
2021 2020 2021 2020 2021 2020
Assets:

Current and other assets 193,464$ 188,260$ 26,563$ 41,600$ 220,027$ 229,860$ Capital assets 279,364 277,081 217,022 201,226 496,386 478,307 Total assets 472,828 465,341 243,585 242,826 716,413 708,167 Deferred outflows:

Deferred outflows related to pension 5,279 5,269 720 604 5,999 5,873 Liabilities:

Current and other liabilities 46,535 50,992 18,480 11,853 65,015 62,845 Noncurrent liabilities 99,050 101,561 87,355 89,157 186,405 190,718 Total liabilities 145,585 152,553 105,835 101,010 251,420 253,563 Deferred inflows:

Deferred inflows related to pension 70 211 27 67 97 278 Deferred inflows related to debt (978) - - - (978) - Total deferred inflows (908) 211 27 67 (881) 278 Net position:

Net investment in capital assets 199,530 191,990 134,777 137,744 334,307 329,734 Restricted 121,677 118,675 595 - 122,272 118,675 Unrestricted 12,223 7,181 3,071 4,609 15,294 11,790 Total net position 333,430$ 317,846$ 138,443$ 142,353$ 471,873$ 460,199$ Table 1
Statement of Net Position
(Dollars in Thousands)

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9 As shown in Table 2, the change in net position is a positive $15,584m for governmental activities and negative $3,570m for business-type activities, with a combined total increase in net position of $12,015m for the fiscal year ending June 30, 2021.

Statement of Activities
(Dollars in Thousands)
Governmental Activities Business-type Activities Total
2021 2020 2021 2020 2021 2020
Revenues:

Program Revenues:

Charges for services 6,224$ 6,005$ 10,955$ 10,699$ 17,179$ 16,704$ Operating grants 4,116 1,627 2,252 3,229 6,368 4,856 Capital grants 16,582 8,774 1,853 7,334 18,435 16,108 General Revenues:

Property taxes 12,701 11,107 - - 12,701 11,107 Sales taxes 8,870 7,594 - - 8,870 7,594 Motor vehicle in lieu taxes 38 38 - - 38 38 Utility users tax 1,887 1,650 - - 1,887 1,650 Franchise taxes 3,184 8,075 - - 3,184 8,075 Transient occupancy taxes 299 279 - - 299 279 Business licenses 415 343 - - 415 343 Other revenue 234 - - - 234 - Capital contribution 4,002 - - - 4,002 - Investment earnings 4,619 4,230 58 565 4,676 4,795 Miscellaneous 527 472 14 5 540 477 Mitigation fees - - 1,123 4,819 1,123 4,819 Gain on sale of assets 24 33 - - 24 33 Total revenues 63,721 50,227 16,254 26,651 79,975 76,878 Expenses:

General government 10,322 6,387 - - 10,322 6,387 Public safety 17,896 17,326 - - 17,896 17,326 Public works 8,739 4,051 - - 8,739 4,051 Community development 2,109 2,204 - - 2,109 2,204 Community services 4,568 4,805 - - 4,568 4,805 Interest and fiscal charges 4,743 4,982 - - 4,743 4,982 Sewer - - 16,480 15,085 16,480 15,085 Transit - - 3,104 3,261 3,104 3,261 Total expenses 48,377 39,755 19,584 18,346 67,960 58,101 Transfers 240 - (240) - - - Change in net position 15,585$ 10,472$ (3,570)$ 8,305$ 12,015$ 18,777$ Table 2
Governmental activity program revenues increased over last year by $10,516m, and general revenues increased by $2,978m. Net increase in operating contributions and grants of $2,490m was a result of $636k of CARES funding and $1,973m of American Rescue Funds received for COVID-19 related expenditures and a decrease of $258k in Public Works cost recovery. Charges for services decreases in General Government of $295k were mainly due to decrease in insurance recovery and a hold on passport services.

Public Safety program revenues increased by a net of $395k due to an increase in special police services revenue such as vehicle release charges and administrative cost recovery charges. Community Development program revenues increased by $236k because of construction activity related to new housing projects. Community Services program revenue decreased $86k mainly due to the elimination of a day camp program.

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10 Capital grants and contributions increased by $7,808m mostly due to a change in recognition of development impact fees as well as an increase of $41k Proposition 1B Local Streets and Roads Funds used in street pavement maintenance and rehabilitation projects. Developer contribution in the amount of $5,808m was recognized for the Potrero Interchange PH1 project.

Overall general revenues increased by $2,978m, due to the following changes in all major tax categories:
property taxes increase - $1,594m (current secured - $877k, decrease in unsecured property - $34k, property transfer tax - $37k, and vehicle in-lieu - $712k), sales tax increase - $1,276m (due to sales tax coming in higher in both point of sale transactions and the County-wide pools share); franchise tax decrease - $4,891m (due to a one-time fee of $5,000m received in FY20 for the Waste Management contract), and other taxes increased $329k - $20k (transient occupancy tax and utility users tax increase - $237k, vehicle license decrease - $553 and business license tax increase - $72k). Investment revenues increased a net of $379k (due CFD principal and interest payments increase $884k and investment revenue decreased $176k because of decline in interest rates due to world-wide pandemic COVID-19), Gain on sales of assets decreased by $9k due to only one property sale during the year. Miscellaneous revenues increased $55k due to an increase in settlement cost recovery. And finally, net transfers between governmental and business-type funds are due to funds transferred to cover premium pay by the State and Local Fiscal Recovery Funds.

Business-type program revenues were down a net of $6,202m, when compared to last year. Primary decreases were related to capital grants and contributions for wastewater acquisition. The increase in wastewater operations service charges were $368k. Increases were due to annual rate increases and rising consumption levels resulting from new housing and commercial development connections within the City.

Transit revenues had a net decrease of $275k, mainly attributable to decrease of $977k in operating grants and contributions and a decrease in charges for services by $110k. Capital grants and contributions had an increase of $812k mostly due to grants for the purchase of three new buses.

Governmental activities program expenses increased by $8,622m. The result was the net of increases and decreases within specific programs during the fiscal year. An increase of $570k occurred in Public Safety mostly due to premium pay given from State and Local Fiscal Recovery Funds for essential workers. A $4,688m increase in Public Works is mainly attributed to citywide street improvement projects. Furthermore, there was a $95k decrease in Community Development is mainly due to the completion of the General Plan Update that was completed in FY2021. General Government operations increase of $3,935m is primarily due to increases in insurance costs, IT infrastructure upgrades and costs to mitigate the COVID-19 pandemic such as premium pay for essential workers and grants for business and resident support.

The business-type activities expenses reflected a net increase of $1,238m in program expenses. The Wastewater Enterprise fund had an increase of $1,395m which is made up of an increase in pension obligation payment and decreases in operating expenses such as repairs and maintenance and overhead costs. The Transit Enterprise fund had a decrease of $157k mostly due to a decrease in contractual services.

In comparison to fiscal year 2020, the overall change in net position from operations for governmental activities was an increase of $15,585m and business-type activities decreased by $3,570m resulting in an overall City net position increase of $12,015m for fiscal year 2021.

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11 Government Activities

Table 3 presents the total cost (expenses) of each of the City’s major public services in general government, public safety, community development, public works, and interest expense. Also included is each program’s net cost (total cost less program revenues generated by the activities). The net cost shows the financial burden that was placed on the City’s taxpayers by each of these functions.

2021 2020 Change 2021 2020 Change
Functions:

General government 10,322$ 6,387$ 3,935$ 6,156$ 4,585$ 1,571$ Public safety 17,896 17,326 570 14,410 14,797 (387) Public works 8,739 4,051 4,688 (2,270) (1,280) (990) Community development 2,109 2,204 (95) (591) (410) (181) Community services 4,568 4,805 (238) (845) 934 (1,779) Refuse - - - (148) (256) 108 Interest and fiscal charges 4,743 4,980 (237) 4,743 4,980 (237) Total Governmental Activities: 48,377$ 39,754$ 8,623$ 21,455$ 23,349$ (1,895)$ Net CostTotal Cost
Table 3
Net Cost of Governmental Activities
(Dollars in Thousands)

In looking at table 3, you will note the major changes both in total cost and net cost. In 2021, total costs increased by $8,623m, a result of increases in general government, public safety, and public works with decreases in community development, community services and interest and fiscal charges. Specific changes in program costs were discussed in the previous section.

FINANCIAL ANALYSIS OF THE CITY’S FUNDS

At year-end, the City’s governmental funds reported combined fund balances of $145,290m a net increase of $2,194m in fund balance; included in this amount are decreases in fund balance for General Fund of $671k, Community Facilities District (CFD) Special Revenue Fund $6,853m and Beaumont Financing Authority Debt Service $6,586m (due to refunding of debt); combined with increased in the Development Impact Fees (DIF) $3,345m, Community Facilities District Capital Projects Fund $338k, General Capital Projects $10,321m (due to committed funds moved into projects) and Other Government Funds $2,300m (due to COVID-19 grants received). The General Fund had a net decrease in fund balance of $671k, resulting from net expenditures exceeding revenues by $3,785m, netted with total other financing sources of $3,114m. The significant change from prior year is mainly due to the appropriation of one-time funds of $3,111m towards capital projects. The increases that offset the large change in the General fund had to do with the increase in taxes and license and permits. There was a large decrease in franchise fees due to a one-time fee of $5,000m received in FY20.

In total the Proprietary Funds reported a negative change in net position of $3,570m, with the Wastewater Enterprise showing a negative change of $3,813m and the Transit Enterprise showing a positive change of $243m. The City established an Internal Service Fund and transferred in $6,409m of reserves. The Wastewater Enterprise ended with a negative change in net position of $3,813m, because of ongoing operating expenses exceeding operating revenues by $1,762m as well as nonoperating expenses of $2,645m offset by transfers in of $594k for capital contributions. The Transit Fund ended the year with a positive change of $243k, because of ongoing operating expenses exceeding operating revenues by $3,030m offset by nonoperating revenues of $2,255m and transfers and capital contributions of $1,018m.

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12 General Fund Budgetary Highlights

The actual expenditures of the General Fund at year-end were $3,785m more than the actual revenues.

The positive budget-to-actual variance of $4,455m in appropriations was due to conservative spending citywide with saving in personnel cost, professional and contractual services and repairs and maintenance.

Of the unspent budget, actual revenues were $3,268m more than anticipated compared to the final budget due to higher tax revenues in sales and property tax than anticipated. Use of money and property fell short from budget as interest rates continue to remain low due to COVID-19 and investment earnings came in short. Other revenues came in higher than expected due to an increase in cost recovery for admin fees.

Favorable budget amendments and supplemental appropriations were made during the year to diminish budget overruns and to increase appropriations for unanticipated expenditures after adoption of the original budget. The original revenue budget was increased $3,285m mainly for one-time uses of reserves for street projects and equipment and vehicle purchases. While the expenditure appropriations budget was increased in total by $3,597m to allow for vehicle purchases as well as funds to address the COVID-19 pandemic through premium pay to essential workers and the citywide COVID-19 relief program which gave grants for business and resident support.

Although, the final adopted budget projected a $4,666m negative change in fund balance, favorable results in revenues of $3,268m, favorable results in expenditures of $1,188m and unfavorable results in other financing uses of $460k resulted in the combined favorable results of $3,995m, as the actual negative net change in fund balance was only $671k for the fiscal year ending June 30, 2021.

CAPITAL ASSET AND DEBT ADMINISTRATION

Capital Assets
2021 2020 2021 2020 2021 2020
Asset Type:

Land 28,547$ 28,547$ 3,010$ 3,010$ 31,557$ 31,557$ Construction in progress 7,800 30,405 103,624 81,273 111,424 111,678 Structures, machinery & equipment 14,375 13,884 43,468 46,101 57,843 59,985 Infrastructure 228,641 204,244 66,919 70,842 295,560 275,086 Total 279,364$ 277,081$ 217,022$ 201,226$ 496,386$ 478,306$ Governmental Activities Business-Type Activities Total
Table 4
Capital Assets (net of depreciation)
(Dollars in Thousands)
At the end of fiscal year 2021, the City had $496,386m invested in a broad range of capital assets, a total increase of $18,079m (See Table 4 above). Governmental activities include equipment, buildings, vehicles, land, park facilities, roads, storm drains, sidewalks and curb and gutters. Business-type activities include transit and wastewater operations. The total increase in the City of Beaumont investment in capital assets for fiscal year 2021 was 3.78% (a 0.82% increase in governmental activities and 7.85% increase in business-type activities). For fiscal year 2021, Net increases are the result of the new addition of roads and construction in progress of the wastewater operations. The major capital assets added for governmental activities and business-type activities are highlighted in explanation of Table 5. 215
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13 2021 2020 2021 2020 2021 2020
Asset Type:

Land -$ 463$ -$ -$ -$ 463$ Construction in progress 4,941 7,698 22,655 43,293 27,596 50,991 Structures, machinery & equipment 1,542 958 1,200 215 2,742 1,173 Infrastructure 29,354 2,992 357 7,646 29,711 10,638 Total Additions 35,837 12,111 24,212 51,154 60,049 63,265 Less: Decreases and depreciation (33,554) (6,305) (8,416) (7,761) (41,970) (14,066) Capital Asset Increase/(Decrease) 2,283$ 5,806$ 15,796$ 43,393$ 18,079$ 49,199$ Table 5
Schedule of Changes in Capital Assets/Infrastructure
(Dollars in Thousands)
Governmental Activities Business-Type Activities Total

As shown in Table 5, above, capital assets current year activity increased $2,283m (net of depreciation) for governmental activities and increased $15,796m (net of depreciation) for business-type activities for a total increase of $18,079m. In the governmental activities the increase includes a Backup and Recovery System, 11 police vehicles, 2 Hybrid vehicles, Ditch Witch Excavator, Data Center for the Police Department, automated lights for the Sporks Park and new restrooms for Rangel Park. Infrastructure additions included the addition of the Potrero Interchange as well as the Beaumont Avenue Reconstruction. The Wastewater and Transit asset additions included new wastewater pumps, a Ford F350 pickup truck, 3 buses, and EV charging station. Asset Disposals include the demolition of the City pool and Rangel Park Restrooms, 2 police vehicles, 2 Hybrid Vehicles and 2 Community Development Vehicles. Additional information regarding capital assets activities can be found in Notes 1E and 5 of the financial statements.

Long-Term Liabilities

In June 2012, GASB (Governmental Accounting Standards Board) issued Statement No. 68, requiring public employers to comply with new accounting and financial reporting standards. Statement No. 68 outlines a different approach to the recognition and calculation of pension obligations. Under the new GASB standards, employers that participate in a defined benefit pension plan administered as a trust or equivalent arrangement are required to record the net pension liability, pension expense, and deferred outflows/deferred inflows of resources related to pensions in their financial statements as part of their financial position. These amounts are presented in the statement of net position on page 16, with detailed information in Note 10 to the financial statements.

Governmental Activities - Governmental Activities - The City governmental funds have $103,830m in outstanding long-term liabilities as of June 30, 2021; with the majority ($77,103m) related to Local Agency Revenue Bonds. In the Governmental Activities, pension related obligations total $17,640m. Tables 6 below and Note 6 and 7 to the financial statements offer a more detailed view of governmental long-term liabilities.
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14 2021 2020 2021 2020 2021 2020
AB 1484 Due Diligence 776$ 1,076$ -$ -$ 776$ 1,076$ Capital Leases 153 251 - - 153 251 1994 Revenue Bonds, Series A 1,970 2,530 - - 1,970 2,530 2011 Revenue Bonds, Series A & B - 11,930 - - - 11,930 2012 Revenue Bonds, Series A - 5,600 - - - 5,600 2012 Revenue Bonds, Series B - 2,955 - - - 2,955 2012 Revenue Bonds, Series C - 3,345 - - - 3,345 2013 Revenue Bonds, Series A - 6,015 - - - 6,015 2013 Refunding Revenue Bonds, Series B - 8,680 - - - 8,680 2015 Refunding Revenue Bonds, Series A 9,770 10,000 - - 9,770 10,000 2015 Refunding Revenue Bonds, Series B 16,020 16,810 - - 16,020 16,810 2015 Refunding Revenue Bonds, Series C 4,040 4,265 - - 4,040 4,265 2015 Refunding Revenue Bonds, Series D 5,985 6,320 - - 5,985 6,320 2019 Refunding Revenue Bonds, Series A 5,085 5,375 - - 5,085 5,375 2020 Revenue Bonds, Series A 17,200 - - - 17,200 - 2021 Revenue Bonds, Series A 18,675 - - - 18,675 - Bond premium
2019 revenue bond series A 937 1,015 - - 937 1,015 Wastewater Revenue Bonds, Series 2018A - - 78,860 80,105 78,860 80,105 Bond premium - - 7,843 8,495 7,843 8,495 Capital Leases - - 99 184 99 184 Compensated absence 2,773 2,628 375 297 3,148 2,925 Claims payable 2,806 2,206 - - 2,806 2,206 Net pension liability 17,640 16,462 2,300 1,746 19,940 18,207 Total 103,830$ 107,463$ 89,477$ 90,827$ 193,307$ 198,290$ Table 6
Long-Term Liabilities
(Dollars in Thousands)
Governmental Activities Business-Type Activities Total
Business-type Activities - The enterprise funds have $89,477m in outstanding long-term liabilities as of June 30, 2021. The wastewater fund has bonded debt of $78,860m consisting of the 2018 Wastewater Revenue Bonds originally issued for $81,105m with the first payment made on September 1, 2019: and the premium on the bond with a current outstanding balance of $7,843m. The Bond issue is paid with wastewater operating revenues. In the enterprise funds pension related obligations total $2,300m.

Additional detailed information for business-type long-term liabilities is shown in Note 6 and 7 to the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGET

In FY2020, the COVID-19 pandemic caused a widespread health crisis, which was quickly followed by a widespread financial crisis due to many non-essential businesses were forced to shut down with stay-at- home orders issued by Governor Gavin Newsom. Throughout FY2021, the City and Inland Empire has seen a recovery as workers returned to work and businesses reopened. According to the UCR School of Business Center for Economic Forecasting and Development, the Inland Empire’s business activity should reach pre-pandemic levels by the end of this year. Over the next two quarters, local business activity is forecast to rise between 3% and 6%.

One unintended impact of the shut down was the shortage of workers that it would create. Whether it be that workers found other types of employment or stayed home with children, the region has seen a shortage of workers since hitting the bottom in April 2020. The Inland Empire has added back 185,600 jobs, regaining roughly 83% of the total jobs lost in the region due to the pandemic. However, according to UC Riverside News, the total payroll employment for the Inland Empire remains at 2.3% (or 36,700 jobs) below its pre- pandemic peak from February 2020.
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15 The City has still seen economic growth through FY 2021 with new industrial and commercial completed projects such as the Amazon Fulfillment Center, In and Out Burger and Raising Cane’s Chicken Fingers drive-thru restaurants. Multiple light industrial permits have been pulled and construction has begun on these projects allowing to add to the continued economic recovery being felt within the City. Multiple housing projects are in process with the City which is forecasted to be close to build out in ten years.

City staff continues to update forecasting models to be better prepared for changes in economic conditions.

Care must be given to ensure that planned ongoing costs do not exceed revenues over the next three to five years. One area of concern is rising pension costs which the City is currently looking at options to address these costs. Inflation has also become a concern as the Consumer Price Index has increased

4.8% from July 2020 to July 2021 for Riverside-San Bernardino-Ontario area according to the State of California Department of Industrial Relations. The inflation rate will need to be monitored as costs for goods and services as well as construction costs for projects could potentially have a negative impact on the FY22 budget and beyond.

On June 1, 2021, the City Council adopted the City of Beaumont Operating and Capital Improvement Program (CIP) Budget for the Fiscal Year beginning July 1, 2021 and ending June 30, 2022. The General Fund operating budget totals $38,678m and is funded by operating revenue of $31,652m, transfers in and other financing sources of $7,801m, leaving $775k of appropriations available throughout the FY. The approved CIP budget for fiscal year 2021/2022 totals $6,347m with a five-year CIP investment plan estimated at $24,293m.

CONTACTING THE CITY’S FINANCIAL MANAGEMENT

This financial report is designed to provide our citizens, taxpayers, customers, investors, and creditors with a general overview of the City’s finances and to show the City’s accountability for the money it receives.

For any questions about this report or additional financial information, please contact the Finance and Administrative Services Department of the City of Beaumont, located at 550 E. 6th Street, Beaumont, CA 92223, (951) 572-3236 or [email protected].

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Government-Wide Financial Statements
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CITY OF BEAUMONT

Statement of Net Position
June 30, 2021

See accompanying Notes to the Basic Financial Statements 16 Primary Government
Governmental Business-Type
Activities Activities Total
ASSETS
Current assets:

Cash and investments 103,189,568$ 18,761,656$ 121,951,224$ Restricted cash and investments - 595,399 595,399 Deposits 64,433 - 64,433 Receivables:

Accounts 399,131 2,551,977 2,951,108 Interest 60,874 1,344 62,218 Intergovernmental 3,317,521 95,233 3,412,754 Prepaid items 330,277 - 330,277 Total current assets 107,361,804 22,005,609 129,367,413 Noncurrent assets:

Restricted cash and investments with fiscal agent 7,131,699 4,557,689 11,689,388 Restricted investment in CFDs 78,745,000 - 78,745,000 Loans receivable 225,715 - 225,715 Capital assets:

Nondepreciable 36,347,957 106,633,785 142,981,742 Depreciable, net 243,016,073 110,387,727 353,403,800 Total capital assets, net 279,364,030 217,021,512 496,385,542 Total noncurrent assets 365,466,444 221,579,201 587,045,645 Total assets 472,828,248 243,584,810 716,413,058

DEFERRED OUTFLOWS OF RESOURCES
Pension related deferred outflows 5,279,040 719,612 5,998,652 Total deferred outflows of resources 5,279,040 719,612 5,998,652

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CITY OF BEAUMONT

Statement of Net Position (Continued)
June 30, 2021

See accompanying Notes to the Basic Financial Statements 17 Primary Government
Governmental Business-Type
Activities Activities Total

LIABILITIES
Current liabilities:

Accounts payable and accrued liabilities 5,921,781$ 4,944,266$ 10,866,047$ Interest payable - 1,267,963 1,267,963 Salaries payable and related liabilities 689,831 40,732 730,563 Deposits payable 2,027,169 - 2,027,169 Unearned revenue 33,116,846 10,105,338 43,222,184 Compensated absences - due within one year 554,646 74,952 629,598 Claims payable - due within one year 720,646 - 720,646 Long-term debt - due within one year 3,504,461 2,047,154 5,551,615 Total current liabilities 46,535,380 18,480,405 65,015,785 Long-term liabilities:

Compensated absences - due in more than one year 2,218,585 299,808 2,518,393 Claims payable - due in more than one year 2,085,474 - 2,085,474 Long-term debt - due in more than one year 77,105,980 84,754,799 161,860,779 Aggregate net pension liability 17,640,051 2,300,138 19,940,189 Total long-term liabilities 99,050,090 87,354,745 186,404,835 Total liabilities 145,585,470 105,835,150 251,420,620

DEFERRED INFLOWS OF RESOURCES
Pension related deferred inflows 70,308 27,341 97,649 Debt refunding (978,385) - (978,385) Total deferred inflows of resources (908,077) 27,341 (880,736)

NET POSITION
Net investment in capital assets 199,529,501 134,777,249 334,306,750 Restricted for:

Special projects 11,494,299 595,399 12,089,698 Debt service 85,876,699 - 85,876,699 Capital projects 24,305,801 - 24,305,801 Total restricted 121,676,799 595,399 122,272,198 Unrestricted 12,223,595 3,069,283 15,292,878 Total net position 333,429,895$ 138,441,931$ 471,871,826$

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CITY OF BEAUMONT

Statement of Activities
For the Year Ended June 30, 2021

See accompanying Notes to the Basic Financial Statements 18 Program Revenues
Operating Capital
Charges for Grants and Grant and
Functions/Programs Expenses Services Contributions Contributions Total Primary government:

Governmental activities:

General government 10,322,020$ 1,507,810$ 2,608,361$ 49,566$ 4,165,737$ Public safety 17,896,367 1,045,919 375,510 2,065,009 3,486,438 Public works 8,738,889 848,207 1,132,483 9,028,021 11,008,711 Community development 2,109,290 2,642,633 - 57,825 2,700,458 Community services 4,567,596 31,012 - 5,381,654 5,412,666 Refuse - 148,190 - - 148,190 Interest and fiscal charges 4,742,632 - - - - Total governmental activities 48,376,794 6,223,771 4,116,354 16,582,075 26,922,200 Business-type activities:

Sewer 16,480,071 10,895,306 - 1,013,130 11,908,436 Transit 3,103,538 59,709 2,251,555 839,473 3,150,737 Total business-type activities 19,583,609 10,955,015 2,251,555 1,852,603 15,059,173 Total primary government 67,960,403$ 17,178,786$ 6,367,909$ 18,434,678$ 41,981,373$ 224
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CITY OF BEAUMONT

Statement of Activities (Continued)
For the Year Ended June 30, 2021

See accompanying Notes to the Basic Financial Statements 19 Net (Expense) Revenue
and Change in Net Position
Governmental Business-Type
Functions/Programs Activities Activities Total
Primary government:

Governmental activities:

General government (6,156,283)$ -$ (6,156,283)$ Public safety (14,409,929) - (14,409,929) Public works 2,269,822 - 2,269,822 Community development 591,168 - 591,168 Community services 845,070 - 845,070 Refuse 148,190 - 148,190 Interest and fiscal charges (4,742,632) - (4,742,632) Total governmental activities (21,454,594) - (21,454,594) Business-type activities:

Sewer - (4,571,635) (4,571,635) Transit - 47,199 47,199 Total business-type activities - (4,524,436) (4,524,436) Total primary government (21,454,594) (4,524,436) (25,979,030) General revenues:

Taxes:

Property taxes 12,701,479 - 12,701,479 Sales taxes 8,869,746 - 8,869,746 Vehicle License 37,754 - 37,754 Utility users tax 1,887,031 - 1,887,031 Franchise tax 3,183,803 - 3,183,803 Transient occupancy tax 298,879 - 298,879 Business licenses 415,229 - 415,229 Total taxes 27,393,921 - 27,393,921 Other revenue 233,922 - 233,922
Developer contribution 4,001,607 - 4,001,607 Investment earnings 4,618,626 57,721 4,676,347 Miscellaneous 526,724 13,719 540,443 Mitigation fees - 1,123,349 1,123,349 Gain on sale of assets 24,392 - 24,392 Transfers 239,959 (239,959) -
Total general revenues and transfers 37,039,151 954,830 37,993,981 Change in net position 15,584,557 (3,569,606) 12,014,951 Net position:

Beginning of year, as restated 317,845,338 142,011,537 459,856,875 End of year 333,429,895$ 138,441,931$ 471,871,826$

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Governmental Fund Financial Statements
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20 GOVERNMENTAL FUND FINANCIAL STATEMENTS

Major Governmental Funds of the City are outlined below:

General Fund - This fund accounts for all revenues and expenditures used to finance the traditional services associated with a municipal government which are not accounted for in the other funds. In Beaumont, these services include general government, public safety, public works, community development, community service, and refuse.

Community Facilities Districts (CFD) Special Revenue Fund - This fund is used to account for bond and annual tax assessments proceeds to be used for the construction and implementation of off-site infrastructure improvements. In addition, the fund accounts for services and administration assessments received annually.

Development Impact Fees Special (DIF) Special Revenue Fund - This fund is used to account for the receipt and expenditure of mitigation fees on specified capital projects.

Community Facilities Districts (CFD) Capital Projects Fund - This fund is used to account for bond and annual tax assessments proceeds to be used for the construction and implementation of off-site infrastructure improvements. In addition, the fund accounts for services and administration assessments received annually.

General Capital Projects Fund - This fund is used to account for financial resources to be used for acquisition, construction and improvement of the city's major capital facilities.

Beaumont Financing Authority / Beaumont Public Improvement Authority Debt Service Funds - These funds are authorized to borrow money for the purpose of financing the acquisition of bonds, notes and other obligations of, or for the purpose of making loans to the City and/or to refinance outstanding obligations of the City.
228
Item 8.

CITY OF BEAUMONT

Balance Sheet
Governmental Funds
June 30, 2021

See accompanying Notes to the Basic Financial Statements 21 Capital Projects Funds
General Community Facilities Development Community Facilities Fund District (CFD) Impact Fees (DIF) District (CFD)
ASSETS
Cash and investments 28,092,672$ 2,569,969$ 35,360,897$ 13,674,329$ Cash and investments with fiscal agent - - - - Investment in CFDs - - - - Deposits - 64,433 - - Receivables:

Accounts 393,034 - - - Interest 60,874 - - - Due from other governments 1,822,056 62,879 - - Loans 225,715 - - - Due from other funds - - - - Prepaid 26,262 - - - Total assets 30,620,613$ 2,697,281$ 35,360,897$ 13,674,329$

LIABILITIES, DEFERRED INFLOWS

OF RESOURCES AND

FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities 4,111,878$ 37,000$ 1,409,077$ -$ Accrued payroll and related liabilities 689,831 - - - Due to other funds - - - - Deposits payable 1,899,670 120,503 6,996 - Unearned revenue 525,000 - 30,599,672 - Total liabilities 7,226,379 157,503 32,015,745 - Deferred Inflows of Resources:

Unavailable revenue - - - - Total deferred inflows of resources - - - - Fund Balances (deficit):

Nonspendable 251,977 - - - Restricted - 2,539,778 3,345,152 13,674,329 Committed 5,350,717 - - - Assigned 214,799 - - - Unassigned 17,576,741 - - - Total fund balances 23,394,234 2,539,778 3,345,152 13,674,329 Total liabilities, deferred inflows
of resources and fund balances 30,620,613$ 2,697,281$ 35,360,897$ 13,674,329$ Special Revenue Funds
229
Item 8.

CITY OF BEAUMONT

Balance Sheet (Continued)
Governmental Funds
June 30, 2021

See accompanying Notes to the Basic Financial Statements 22 Capital Projects Funds Debt Service Fund Other Total General Beaumont Governmental Governmental
Capital Projects Financing Authority Funds Funds
ASSETS
Cash and investments 10,196,358$ -$ 6,876,803$ 96,771,028$ Cash and investments with fiscal agent - 7,131,699 - 7,131,699 Investment in CFDs - 78,745,000 - 78,745,000 Deposits - - - 64,433 Receivables:

Accounts - - 6,097 399,131 Interest - - - 60,874 Due from other governments 942,402 - 490,184 3,317,521 Loans - - - 225,715 Due from other funds - - - - Prepaid - 304,015 - 330,277 Total assets 11,138,760$ 86,180,714$ 7,373,084$ 187,045,678$

LIABILITIES, DEFERRED INFLOWS

OF RESOURCES AND

FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities 295,702$ -$ 68,124$ 5,921,781$ Accrued payroll and related liabilities - - - 689,831 Due to other funds - - - - Deposits payable - - - 2,027,169 Unearned revenue 211,586 - 1,780,588 33,116,846 Total liabilities 507,288 - 1,848,712 41,755,627 Deferred Inflows of Resources:

Unavailable revenue - - - - Total deferred inflows of resources - - - - Fund Balances (deficit):

Nonspendable - 304,015 - 555,992 Restricted - 85,876,699 5,609,369 111,045,327 Committed 10,631,472 - - 15,982,189 Assigned - - - 214,799 Unassigned - - (84,997) 17,491,744 Total fund balances 10,631,472 86,180,714 5,524,372 145,290,051 Total liabilities, deferred inflows
of resources and fund balances 11,138,760$ 86,180,714$ 7,373,084$ 187,045,678$ 230
Item 8.

CITY OF BEAUMONT

Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2021

See accompanying Notes to the Basic Financial Statements 23 Total Fund Balances - Total Governmental Funds 145,290,051$ Capital assets used in governmental activities were not financial resources and therefore, were not reported in governmental funds.

Capital assets, nondepreciable 36,347,957
Capital assets, depreciable 243,016,073
Long-term liabilities were not due and payable in the current period and therefore, were not reported in the governmental funds.

Compensated absences - due within one year (554,646)
Compensated absences - due in more than one year (2,218,585) Claims payable - due within one year (1,617,130)
Claims payable - due in more than one year (1,188,990)
Long-term debt - due within one year (3,504,461)
Long-term debt - due more than one year (77,105,980)
Aggregate net pension liability is not due and payable in the current period and therefore is not required to be reported in the governmental funds. (17,640,051) Pension-related deferred outflows/inflows of resources in the governmental activities were not financial resources (uses) and therefore were not reported in the Governmental Funds Balance Sheet.

Pension-related deferred outflows of resources 5,279,040 Pension-related deferred inflows of resources (70,308)
Debt-related deferred inflow of resources 978,385
Internal service funds are used by management to charge the costs of certain activities, for equipment and risk management, to individual funds. The assets and liabilities of the internal service funds must be added to the Statement of Net Position.6,418,540 Net Position of Governmental Activities 333,429,895$

231
Item 8.

CITY OF BEAUMONT

Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
For the Year Ended June 30, 2021

See accompanying Notes to the Basic Financial Statements 24 Capital Projects Funds
General Community Facilities Development Community Facilities Fund District (CFD) Impact Fees (DIF) District (CFD)
REVENUES:

Taxes 16,092,556$ -$ -$ -$ Franchise fees 3,183,803 - - - Intergovernmental 5,753,856 - - - License and permits 3,050,575 - 3,441,595 - Fines and forfeitures 344,816 - - - Assessments levied 637,172 5,970,996 - 680,109 Use of money and property 178,689 21,955 125,332 51,730 Charges for services 1,484,669 - - - Other revenues 916,229 576 - - Total revenues 31,642,365 5,993,527 3,566,927 731,839 EXPENDITURES:

Current:

General government 8,460,292 - - - Public safety 17,313,483 - - - Public works 2,786,349 - - 172,938 Community development 1,561,640 212,607 - - Community services 4,093,696 - - - Capital outlay 813,748 - - - Debt service:

Principal 398,560 - - - Payment to refunded bond escrow agent - - - - Interest and fiscal charges - - - - Total expenditures 35,427,768 212,607 - 172,938

REVENUES OVER
(UNDER) EXPENDITURES (3,785,403) 5,780,920 3,566,927 558,901 OTHER FINANCING SOURCES (USES):

Refunding bonds issued - - - - Payment to refunded bond escrow agent - - - - Proceeds from sale of capital assets 24,392 - - - Transfers in 10,277,295 - 307,133 - Transfers (out) (7,187,224) (12,633,612) (528,908) (221,008) Total other financing sources (uses)3,114,463 (12,633,612) (221,775) (221,008) Net changes in fund balances (670,940) (6,852,692) 3,345,152 337,893 FUND BALANCES:

Beginning of year 24,065,174 9,392,470 - 13,336,436 End of year 23,394,234$ 2,539,778$ 3,345,152$ 13,674,329$ Special Revenues Fund

232
Item 8.

CITY OF BEAUMONT

Statement of Revenues, Expenditures, and Changes in Fund Balance (Continued) Governmental Funds
For the Year Ended June 30, 2021

See accompanying Notes to the Basic Financial Statements 25 Capital Projects Funds Debt Service Fund Other Total General Beaumont Governmental Governmental
Capital Projects Financing Authority Funds Funds
REVENUES:

Taxes -$ -$ 1,317,492$ 17,410,048$ Franchise fees - - - 3,183,803 Intergovernmental 953,669 - 5,105,814 11,813,339 License and permits - - 33,422 6,525,592 Fines and forfeitures - - - 344,816 Assessments levied - - - 7,288,277 Use of money and property 7,929 4,292,477 14,994 4,693,106 Charges for services - - - 1,484,669 Other revenues 6,041,922 - 57,857 7,016,584 Total revenues 7,003,520 4,292,477 6,529,579 59,760,234 EXPENDITURES:

Current:

General government - - - 8,460,292 Public safety - - 265,033 17,578,516 Public works - - - 2,959,287 Community development - - 177,716 1,951,963 Community services - - 25,711 4,119,407 Capital outlay 4,260,351 - - 5,074,099 Debt service:

Principal - 3,540,000 - 3,938,560 Payment to refunded bond escrow agent - 3,563,485 - 3,563,485 Interest and fiscal charges - 4,820,703 - 4,820,703 Total expenditures 4,260,351 11,924,188 468,460 52,466,312

REVENUES OVER
(UNDER) EXPENDITURES 2,743,169 (7,631,711) 6,061,119 7,293,922 OTHER FINANCING SOURCES (USES):

Refunding bonds issued - 35,875,000 - 35,875,000 Payment to refunded bond escrow agent - (34,829,600) - (34,829,600) Proceeds from sale of capital assets - - - 24,392 Transfers in 7,578,005 - 467,044 18,629,477 Transfers (out) - - (4,228,266) (24,799,018) Total other financing sources (uses)7,578,005 1,045,400 (3,761,222) (5,099,749) Net changes in fund balances 10,321,174 (6,586,311) 2,299,897 2,194,173 FUND BALANCES:

Beginning of year 310,298 92,767,025 3,224,475 143,095,878 End of year 10,631,472$ 86,180,714$ 5,524,372$ 145,290,051$

233
Item 8.

CITY OF BEAUMONT

Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities For the Year Ended June 30, 2021

See accompanying Notes to the Basic Financial Statements 26 Net Change in Fund Balances - Total Governmental Funds 2,194,173$ Governmental funds report capital outlays as expenditures. However, in the Government-Wide Statement of Activities, the costs of those assets are allocated over their estimated useful lives as depreciation expense.

Capital outlay capitalized 4,283,100
Depreciation expense (6,001,439)
Increase in capital assets and net position from developer capital contributions for infrastructure assets. 4,001,607
The issuance of long-term liabilities provided current financial resources to governmental funds, but issuing debt increased long-term liabilities in the Government-Wide Statement of Net Position. Repayment of long-term liabilities was an expenditure in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement of Net Position.

Principal payments on long term debt 3,840,000
Payments to refunding escrow agent 3,563,485
Principal payments on capital lease 98,560
Proceeds from issuance of debt (35,875,000)
Payment to refunded bond escrow agent 34,829,600
Premium amortization 78,071
Governmental funds report revenues and expenditures primarily pertaining to long-term liabilities, which are not reported in the statement of activities. At the government-wide level, these activities are reported in the statement of net position. This is the net expenditure reported in the governmental funds, which is not reported in the statement of activities.

Pension related net adjustments (1,027,218)
Certain long-term assets and liabilities were reported in the Government-Wide Statement of Activities, but they did not require the use of current financial resources. Therefore, long-term assets and liabilities were not reported as expenditures in governmental funds. These amounts represented the changes in long-term liabilities from prior year.

Changes in compensated absences (145,316)
Changes in claims payable (599,725)
Changes in unavailable revenues were reported as deferred inflows of resources in the Governmental Funds but were previously reported as revenues in the Government-Wide Statement of Activities.(73,881)
Internal service funds are used by management to charge the costs of certain activities, for equipment and risk management, to individual funds. The net revenues (expenses) of the internal service funds are reported with governmental activities.6,418,540 Change in Net Position of Governmental Activities 15,584,557$

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Item 8.

Proprietary Fund Financial Statements
236
Item 8.

27 PROPRIETARY FUND FINANCIAL STATEMENTS

Enterprise Funds:

Sewer Fund - The Sewer Fund was established to receive and disburse funds collected through sewer services charge fees and sewer facilities charges. These funds are used for the operation and maintenance of sewer disposal facilities and the financing of construction outlet sewers.

Transit Fund - The Transit Fund is intended to show the financial position and the operation and maintenance of the City's fixed route and dial-a-ride transit systems.

Internal Service Fund:

Equipment Replacement Fund - The Equipment Replacement Fund was established to account for operating and replacement cost associated with City vehicles and equipment. Cost of materials and services are accumulated in this fund and charged to the user departments as such goods are delivered.

237
Item 8.

CITY OF BEAUMONT

Statement of Net Position
Proprietary Funds
June 30, 2021

See accompanying Notes to the Basic Financial Statements 28 Governmental
Activities
Sewer Transit Internal Service
Fund Fund Total Fund
ASSETS
Current assets:

Cash and investments 17,072,086$ 1,689,570$ 18,761,656$ 6,418,540$ Restricted cash and investments 595,399 - 595,399 - Receivables:

Accounts 2,551,977 - 2,551,977 - Interest 1,344 - 1,344 - Due from other governments - 95,233 95,233 - Total current assets 20,220,806 1,784,803 22,005,609 6,418,540 Noncurrent assets:

Restricted cash and investments with fiscal agent 4,557,689 - 4,557,689 - Capital assets:

Nondepreciable 105,542,702 1,091,083 106,633,785 - Depreciable 234,917,936 6,387,522 241,305,458 - Less: accumulated depreciation (125,938,018) (4,979,713) (130,917,731) - Total capital assets 214,522,620 2,498,892 217,021,512 - Total noncurrent assets 219,080,309 2,498,892 221,579,201 - Total assets 239,301,115 4,283,695 243,584,810 6,418,540

DEFERRED OUTFLOWS OF RESOURCES
Pension-related deferred outflows 385,506 334,106 719,612 - Total deferred outflows of resources 385,506 334,106 719,612 -

LIABILITIES
Current liabilities:

Accounts payable and accrued liabilities 4,860,497 83,769 4,944,266 - Salaries payable and related liabilities 17,869 22,863 40,732 - Unearned revenue 9,329,263 776,075 10,105,338 - Interest payable 1,267,963 - 1,267,963 - Compensated absences - due within one year 15,624 59,328 74,952 - Long-term debt - due within one year 2,047,154 - 2,047,154 - Total current liabilities 17,538,370 942,035 18,480,405 - Noncurrent liabilities:

Compensated absences - due in more than one year 113,824 185,984 299,808 - Long-term debt - due in more than one year 84,754,799 - 84,754,799 - Net pension liability 1,232,217 1,067,921 2,300,138 - Total noncurrent liabilities 86,100,840 1,253,905 87,354,745 - Total liabilities 103,639,210 2,195,940 105,835,150 -

DEFERRED INFLOWS OF RESOURCES
Pension-related deferred inflows 14,647 12,694 27,341 - Total deferred inflows of resources 14,647 12,694 27,341 -

NET POSITION (DEFICIT)
Net investment in capital assets 132,278,357 2,498,892 134,777,249 - Restricted 595,399 - 595,399 - Unrestricted 3,159,008 (89,725) 3,069,283 6,418,540 Total net position 136,032,764$ 2,409,167$ 138,441,931$ 6,418,540$ Business-type Activities -
Enterprise Funds
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Item 8.

CITY OF BEAUMONT

Statement of Revenues, Expenses, and Changes in Net Position Proprietary Funds
For the Year Ended June 30, 2021

See accompanying Notes to the Basic Financial Statements 29 Business-type Activities - Governmental
Enterprise Funds Activities
Sewer Transit Internal Service
Fund Fund Total Fund
OPERATING REVENUES:

Charges for services 10,895,306$ 59,709$ 10,955,015$ -$ Other revenue - 13,719 13,719 - Total operating revenues 10,895,306 73,428 10,968,734 - OPERATING EXPENSES:

Salaries 1,436,433 1,554,972 2,991,405 - Fringe benefits 779,053 508,334 1,287,387 - Administration 209,881 26,647 236,528 - Contract services 970,966 66,927 1,037,893 - Fuels, lubricants, and maintenance 311,162 296,686 607,848 - Supplies 452,031 38,272 490,303 - Office 19,578 23,501 43,079 - Utilities 922,728 31,172 953,900 - Depreciation 7,555,416 557,027 8,112,443 - Total operating expenses 12,657,248 3,103,538 15,760,786 - OPERATING INCOME (LOSS)(1,761,942) (3,030,110) (4,792,052) - NONOPERATING REVENUES (EXPENSES):

Local transportation funds - 2,239,339 2,239,339 - Mitigation fees 1,123,349 - 1,123,349 - Intergovernmental - 12,216 12,216 - Investment earnings 54,568 3,153 57,721 9,040 Interest expense (3,822,823) - (3,822,823) - Total nonoperating revenues (expenses)(2,644,906) 2,254,708 (390,198) 9,040 Income (loss) before operating transfers and
capital contributions (4,406,848) (775,402) (5,182,250) 9,040 TRANSFERS AND CAPITAL CONTRIBUTIONS:

Riverside County Transportation Commission - 839,473 839,473 - Developer capital contributions 1,013,130 - 1,013,130 - Transfers in 231,195 278,846 510,041 6,409,500 Transfers (out) (650,000) (100,000) (750,000) - Total transfers and capital contributions 594,325 1,018,319 1,612,644 6,409,500 Changes in net position (3,812,523) 242,917 (3,569,606) 6,418,540 NET POSITION:

Beginning of year, as restated 139,845,287 2,166,250 142,011,537 - End of year 136,032,764$ 2,409,167$ 138,441,931$ 6,418,540$

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Item 8.

CITY OF BEAUMONT

Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2021

See accompanying Notes to the Basic Financial Statements 30 Business-type Activities - Governmental
Enterprise Funds Activities
Sewer Transit Internal Service
Fund Fund Total Fund
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers and users 13,540,797$ 708,074$ 14,248,871$ -$ Payments to suppliers and employees for goods and services (2,197,159) (2,491,733) (4,688,892) - Cash received from developers and others - 13,719 13,719 - Net cash provided by (used in) operating activities 11,343,638 (1,769,940) 9,573,698 -

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Advances to other funds - 213,630 213,630 - Local transportation funds - 1,897,230 1,897,230 - Intergovernmental - 12,216 12,216 - Transfers in 231,195 278,846 510,041 6,409,500 Transfers (out) (650,000) (100,000) (750,000) - Net cash provided by (used in) noncapital
financial activities (418,805) 2,301,922 1,883,117 6,409,500

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Acquisition of capital assets (23,094,618) (813,616) (23,908,234) - Developer capital contributions 1,013,130 - 1,013,130 - Capital grants received - 839,473 839,473 - Payment of principal on long-term debt (1,329,366) - (1,329,366) - Payment of interest on long-term debt (4,492,272) - (4,492,272) - Net cash provided by (used in) capital
and related financing activities (26,779,777) 25,857 (26,753,920) - CASH FLOWS FROM INVESTING ACTIVITIES:

Investment income 54,703 3,153 57,856 9,040 Net cash provided by investing activities 54,703 3,153 57,856 9,040 Net change in cash and cash equivalents (15,800,241) 560,992 (15,239,249) 6,418,540 CASH AND CASH EQUIVALENTS:

Beginning of year 38,025,415 1,128,578 39,153,993 - End of year 22,225,174$ 1,689,570$ 23,914,744$ 6,418,540$ RECONCILATION TO STATEMENT OF NET POSITION:

Cash and investments 17,072,086$ 1,689,570$ 18,761,656$ 6,418,540$ Restricted cash and investments 595,399 - 595,399 - Restricted cash and investments with fiscal agent 4,557,689 - 4,557,689 - Total cash and cash equivalents 22,225,174$ 1,689,570$ 23,914,744$ 6,418,540$

240
Item 8.

CITY OF BEAUMONT

Statement of Cash Flows (Continued)
Proprietary Funds
For the Year Ended June 30, 2021

See accompanying Notes to the Basic Financial Statements 31 Business-type Activities - Governmental
Enterprise Funds Activities
Sewer Transit Internal Service
Fund Fund Total Fund

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) (1,761,942)$ (3,030,110)$ (4,792,052)$ -$ Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities:

Depreciation 7,555,416 557,027 8,112,443 - Changes in current assets, deferred outflows of resources, liabilities, and deferred inflows of resources:

Accounts receivable (418,362) 2,408 (415,954) - Pension-related deferred outflows of resources (159,057) 43,310 (115,747) - Accounts payable and accrued liabilities 2,421,040 46,033 2,467,073 - Salaries payable and related liabilities 8,075 7,722 15,797 - Unearned revenue 3,063,853 645,957 3,709,810 - Compensated absences 67,470 9,964 77,434 - Aggregate net pension liability 577,535 (23,216) 554,319 - Pension-related deferred inflows of resources (10,390) (29,035) (39,425) - Total adjustments 13,105,580 1,260,170 14,365,750 - Net cash provided by (used in) operating activities 11,343,638$ (1,769,940)$ 9,573,698$ -$

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Item 8.

Fiduciary Fund Financial Statements
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Item 8.

See accompanying Notes to the Basic Financial Statements 32 FIDUCIARY FUND FINANCIAL STATEMENTS

Custodial Funds - To account for collections received from special assessment district and their disbursement to bondholders.

Private Purpose Trust Funds - To account for activities of the Successor Agency to the dissolved Beaumont Redevelopment Agency.

245
Item 8.

CITY OF BEAUMONT

Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2021

See accompanying Notes to the Basic Financial Statements 33 Private Purpose
Trust Fund
Custodial Funds Succesor Agency
ASSETS
Cash and investments 18,504,154$ 177$
Restricted cash and investments with fiscal agent 25,115,350 - Due from other governments 348,319 - Capital assets, net - 21,826
Total assets 43,967,823 22,003

LIABILITIES
Interest payable 4,184,331 -
Unearned revenue 11,736 -
Deposits payable 31,882 -
Due to other governments 110,797,432 -
Due to bondholders 144,230,825 -
Total liabilities 259,256,206 -
Net Position
Restricted for:

Individuals, organizations and other governments (215,288,383) 22,003 Total net position (215,288,383)$ 22,003$

246
Item 8.

CITY OF BEAUMONT

Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2021

See accompanying Notes to the Basic Financial Statements 34 Private Purpose
Trust Fund
Custodial Funds Succesor Agency
ADDITIONS:

Investment Income 14,992$ -$
Assessments 19,233,442 -
Proceeds from bonds 18,957,711 -
Total additions 38,206,145 -
DEDUCTIONS:

Payments to trustee 8,898,870 -
Interest expense 10,763,754 -
Bond issuance cost 379,243 -
Payment for infrastructure 12,568,362 -
Total deductions 32,610,229 -
Change in net position 5,595,916 -
NET POSITION:

Beginning of year, as restated (220,884,299) 22,003 End of year (215,288,383)$ 22,003$

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Item 8.

Notes to the Basic Financial Statements
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Item 8.

CITY OF BEAUMONT

Index to the Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

35 Note 1 – Reporting Entity and Summary of Significant Accounting Policies .................... 37

A. Reporting Entity ........................................................................................................ 37 B. Basis of Accounting and Measurement Focus ......................................................... 39 C. Cash, Cash Equivalents and Investments ................................................................ 43 D. Restricted Cash and Investments ............................................................................ 44 E. Prepaid Items ............................................................................................................ 44 F. Capital Assets .......................................................................................................... 44 G. Long-Term Debt ....................................................................................................... 45 H. Compensated Absences .......................................................................................... 45 I. Pensions ................................................................................................................... 46 J. Property Taxes ......................................................................................................... 46 K. Net Position .............................................................................................................. 47 L. Fund Balances ......................................................................................................... 47 M. Use of Estimates ...................................................................................................... 48 N. Fair Value Measurement .......................................................................................... 48 O. Upcoming Governmental Standards Implementation ............................................... 49 P. Implementation of New Pronouncements ................................................................. 50

Note 2 – Cash and Investments .............................................................................................. 50

A. Cash Deposits .......................................................................................................... 50 B. Investments .............................................................................................................. 52 C. External Investment Pool ......................................................................................... 53 D. Investment in CFD Bonds ........................................................................................ 54 E. Risk Disclosures ....................................................................................................... 54

Note 3 – Loans Receivable ...................................................................................................... 56

A. Governmental Activities ............................................................................................ 56

Note 4 – Interfund Balances and Transactions ..................................................................... 57

A. Transfers .................................................................................................................. 57

Note 5 – Capital Assets ........................................................................................................... 58

A. Governmental Activities ............................................................................................ 58 B. Business-Type Activities .......................................................................................... 59 C. Fiduciary Fund Financial Statements ....................................................................... 59

Note 6 – Long-Term Obligations ............................................................................................ 60

A. Governmental Activities ............................................................................................ 60 B. Business-Type Activities .......................................................................................... 72

Note 7 – Debt Without City Commitment ............................................................................... 73 251
Item 8.

CITY OF BEAUMONT

Index to the Notes to the Basic Financial Statements (Continued) For the Year Ended June 30, 2021

36 Note 8 – Compensated Absences .......................................................................................... 75

A. Governmental Activities ............................................................................................ 75 B. Business-Type Activities .......................................................................................... 75

Note 9 – Risk Management ..................................................................................................... 75

Note 10 – Pension Plans ......................................................................................................... 77

A. Summary ................................................................................................................... 77 B. General Information about the Pension Plans .......................................................... 78 C. Net Pension Liability .................................................................................................. 80 D. Proportionate Share of Net Pension Liability ............................................................ 82 E. Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pensions ................................................................................................ 84 F. Payable to the Pension Plan ..................................................................................... 86

Note 11 – Other Required Disclosures .................................................................................. 86

A. Deficit Fund Balances .............................................................................................. 86 B. Expenditures Exceeding Appropriations .................................................................. 87

Note 12 – Equity Classification ............................................................................................... 87

A. Fund Balances ......................................................................................................... 87 B. Net Position .............................................................................................................. 88

Note 13 – Commitments and Contingencies ......................................................................... 88

A. Litigation ................................................................................................................... 88 B. Grants ....................................................................................................................... 89 C. Construction Commitments ...................................................................................... 89 D. WRCOG Related Settlement Agreement ................................................................. 89 E. Covid-19 Considerations .......................................................................................... 90

Note 14 – Subsequent Event ................................................................................................... 91

A. American Rescue Plan .............................................................................................. 91

Note 15 – Prior Period Adjustment ......................................................................................... 91

A. GASB Implementation ............................................................................................... 91

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Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

37 Note 1 - Reporting Entity and Summary of Significant Accounting Policies

The basic financial statements of the City of Beaumont, California (the "City") have been prepared in conformity with accounting principles generally accepted of the United States of America ("US GAAP") as applied to governmental agencies. The Governmental Accounting Standards Board ("GASB") is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the City's accounting policies are described below.

A. Reporting Entity

The City was incorporated November 18, 1912 under the general laws of the State of California. The City operates under a Council-Manager form of government and provides basic local governmental services including public safety (police and fire), maintenance and construction of public improvements, cultural, recreation, planning, zoning, transportation, sewer and general administration.

In evaluating how to define the City for financial reporting purposes, management has considered all potential component units. The primary criteria for including a potential component unit within the reporting entity are the governing body's financial accountability and a financial benefit or burden relationship and whether it is misleading to exclude. A primary government is financially accountable and shares a financial benefit or burden relationship if it appoints a voting majority of an organization's governing body and it is able to impose its will on the organization, or if there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on the primary government.

A primary government may also be financially accountable if an organization is fiscally dependent on the primary government regardless of whether the organization has a separately elected governing board, a governing board appointed by a higher level of government, or a jointly appointed board, and there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on the primary government.

Blended Component Units

The financial reporting entity consists of the primary government, the City, and its component units. In addition, component units can be other organizations for which the primary government is accountable and their exclusion would cause the reporting entity's financial statements to be misleading or incomplete.

Blended component units, although legally separate entities, are, in substance part of the government's operation and so data from these units are combined with data of the primary government.

253
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

38 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

A. Reporting Entity (Continued)

Blended Component Units (Continued)

Although the following are legally separate from the City, they have been "blended" as though they are part of the City because the component unit's governing body is substantially the same as the City's and there is a financial benefit or burden relationship between the City and the component unit; management of the City has operational responsibilities for the component units; and/or the component units provide services entirely, or almost entirely, to the City or otherwise exclusively, or almost exclusively, benefits the City, even though it does not provide services directly to it.

The following specific criteria were used in determining the status of the component unit:

 Members of the City Council also act as the governing body of the component unit.  The City and the component unit are financially interdependent.  The component unit is managed by employees of the City. A portion of the City's salary and overhead expenses is billed to the component unit each year.

Beaumont Financing Authority

The Beaumont Financing Authority (the "BFA)" was founded by the execution of a joint exercise of powers agreement dated April 1, 1993, by the City of Beaumont and the former Beaumont Redevelopment Agency. The BFA is authorized to issue revenue bonds to be repaid from the proceeds of public obligations and to provide financing and refinancing for public capital improvements of public entities, including the City, the former Redevelopment Agency, and the Community Facilities Districts. The City Council of the City of Beaumont serves as the governing board for the BFA and the City has fiduciary responsibility for the BFA. The BFA exclusively benefits the City. Transactions are reported in the Beaumont Financing Authority Debt Service fund. There are no separate financial statements available.

Beaumont Utility Authority

The Beaumont Utility Authority (the "BUA") was established on May 15, 2001 by a joint powers agreement between the City of Beaumont and the former Beaumont Redevelopment Agency.

The BUA was created to provide a binding framework for the relationship between the City's utility enterprise fund and the City's General Fund, to address possible impacts of Proposition 218, and to provide greater fiscal strength for the City's fund. The City Council serves as the governing board for the BUA and the City has operational responsibility for the BUA.

Transactions are reported in an enterprise fund. There are no separate financial statements available.

254
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

39 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

A. Reporting Entity (Continued)

Blended Component Units (Continued)

Beaumont Parking Authority

The Beaumont Parking Authority (the "BPA") was established on May 1, 2018 by the City of Beaumont City Council through resolution 2018-12 that declared a need for a parking authority in the city. The BPA was created to establish the Beaumont Public Improvement Authority though a joint powers agreement. The City Council serves as the governing board for the BP A and the City has operational responsibility for the BPA. There was no financial activity for the BPA during the fiscal year ending June 30, 2021.

Beaumont Public Improvement Authority

The Beaumont Public Improvement Authority (the "BPIA") was established on May 15, 2018 by a joint powers agreement between the City of Beaumont and the Beaumont Parking Authority. The BPIA is authorized to issue revenue bonds to be repaid from the proceeds of wastewater services and to provide financing and refinancing for public capital improvements of the City's wastewater system The City Council serves as the governing board for the BPIA and the City has operational responsibility for the BPIA. There was no financial activity for the BPIA since inception through the fiscal year ending June 30, 2021.

B. Basis of Accounting and Measurement Focus

The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund balance, revenues, and expenditures, or expenses as appropriate.

Government resources are allocated to and accounted for in individual funds based upon the purpose for which they are to be spent and the means by which spending activities are controlled.

The Statement of Net Position reports separate sections for Deferred Outflows of Resources, and Deferred Inflows of Resources, when applicable.

Deferred Outflows of Resources represent outflows of resources (consumption of net position) that apply to future periods and therefore, will not be recognized as an expense until that time.

Deferred Inflows of Resources represent inflows of resources (acquisition of net position) that apply to future periods and therefore, are not recognized as revenue until that time.

255
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

40 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

B. Basis of Accounting and Measurement Focus (Continued)

Government-Wide Financial Statements

The City's government-wide financial statements include a statement of net position and a statement of activities. These statements present summaries of governmental and business- type activities for the City accompanied by a total column. Fiduciary activities of the City are not included in the government-wide financial statements.

These financial statements are presented on an "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all of the City's assets, liabilities and deferred amounts, including capital assets, as well as infrastructure assets, and long-term liabilities, are included in the accompanying statement of net position. The statement of activities presents changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.

Certain types of transactions are reported as program revenues within three categories in the statement of activities:

 Charges for services
 Operating grants and contributions
 Capital grants and contributions

Certain eliminations have been made in regards to interfund activities, payables and receivables. All internal balances in the statement of net position have been eliminated except those representing balances between the governmental activities and the business-type activities, which are presented as internal balances and eliminated in the total primary government column. However, those transactions between governmental and business-type activities have not been eliminated. The following interfund activities have been eliminated:

 Due from/to other funds
 Transfers in/out

Governmental Fund Financial Statements

Governmental fund financial statements include a balance sheet and a statement of revenues, expenditures and changes in fund balances for all major governmental funds and non-major funds aggregated. An accompanying schedule is presented to reconcile and explain the differences between fund balance as presented in these statements to the net position presented in the government-wide financial statements. The City has presented all major funds that meet the applicable criteria.

256
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

41 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

B. Basis of Accounting and Measurement Focus (Continued)

Governmental Fund Financial Statements (Continued)

All governmental funds are accounted for on a spending or "current financial resources" measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the balance sheet. The statement of revenues, expenditures and changes in fund balances present increases (revenue and other financing sources) and decreases (expenditures and other financing uses) in fund balances. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period. The primary revenue sources, which have been treated as susceptible to accrual by the City, are property tax, sales tax, intergovernmental revenues and other taxes.

Expenditures are recorded in the accounting period in which the related fund liability is incurred.

Revenues are recognized as soon as they are both "measurable" and "available". Revenues are considered to be available when they are collectible within the current period as soon enough thereafter to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the providers have been met.

Governmental funds of the City are outlined below:

General Fund - This fund accounts for all revenues and expenditures to finance the traditional services associated with a municipal government which are not accounted for in the other funds. In the City, these services include general government, public safety, public works, community development, community service, and refuse.

Community Facilities Districts (CFD) Special Revenue Fund - This fund is used to account for bond and annual tax assessments proceeds to be used for the construction and implementation of off-site infrastructure improvements. In addition, the Fund accounts for services and administration assessments received annually.

Development Impact Fees (DIF) Special Revenue Fund - This fund is used to account for the receipt and expenditure of mitigation fees on specified capital projects.

Community Facilities Districts (CFD) Capital Projects Fund - This fund is used to account for bond and annual tax assessments proceeds to be used for the construction and implementation of off-site infrastructure improvements. In addition, the Fund accounts for services and administration assessments received annually.

General Capital Projects Fund - This fund is used to account for financial resources to be used for acquisition, construction and improvement of the city's major capital facilities.

257
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

42 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

B. Basis of Accounting and Measurement Focus (Continued)

Governmental Fund Financial Statements (Continued)

Other Governmental Funds - Other Governmental Funds is the aggregate of all the non- major governmental funds.

Proprietary Fund Financial Statements

Proprietary fund financial statements include a statement of net position, a statement of revenues, expenses and changes in net position, and a statement of cash flows for each major proprietary fund.

Proprietary funds are accounted for using the "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on the statement of net position. The statement of revenues, expenses and changes in net position presents increases (revenues) and decreases (expenses) in total net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. In these funds, receivables have been recorded as revenue and provisions have been made for uncollectible amounts.

Operating revenues in the proprietary funds are those revenues that are generated from the primary operations of the fund. All other revenues are reported as non-operating revenues.

Operating expenses are those expenses that are essential to the primary operations of the fund. All other expenses are reported as non-operating expenses.

Proprietary funds of the City are outlined below:

Enterprise Funds

Sewer Fund - This fund was established to receive and disburse funds collected through sewer services charge fees and sewer facilities charges. These funds are used for the operation and maintenance of sewer disposal facilities and the financing of construction outlet sewers.

Transit Fund - The Transit Fund is intended to show the financial position and the operation and maintenance of the City's fixed route and dial-a-ride transit systems.

258
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

43 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

B. Basis of Accounting and Measurement Focus (Continued)

Internal Service Funds

Equipment Replacement Fund - This fund was established to account for operating and replacement cost associated with City vehicles and equipment. Cost of materials and services are accumulated in this fund and charged to the user departments as such goods are delivered.

Fiduciary Fund Financial Statements

Fiduciary fund financial statements include a statement of fiduciary net position and a statement of changes in fiduciary net position. The City has two types of fiduciary funds presented. They are the private purpose trust funds and custodial funds.

The private purpose trust funds account for activities of the Successor Agency to the Beaumont Redevelopment Agency (the "Successor Agency").

The custodial funds are purely custodial in nature. Trust funds, such as the Successor Agency to the Redevelopment Agency, use the flow of economic resources measurement focus and the accrual basis of accounting.

C. Cash, Cash Equivalents and Investments

The City pools its available cash for investment purposes. The City's cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturity of three months or less from the date of acquisition. Cash and cash equivalents are combined with investments and displayed as Cash and Investments.

Highly liquid market investments with maturities of one year or less at time of purchase are stated at amortized cost. All other investments are stated at fair value. Market value is used as fair value for those securities for which market quotations are readily available.

The City follows the practice of pooling cash and investments of all funds, except for funds required to be held by fiscal agents under the provisions of bond indentures. Interest income earned on pooled cash and investments is allocated on an accounting period basis to the various funds based on the period-end cash and investment balances. Interest income from cash and investments with fiscal agents is credited directly to the related fund.

The City participates in an investment pool managed by the State of California titled Local Agency Investment Fund (LAIF) which has invested a portion of the pool funds in structured notes and asset-backed securities. LAIF's investments are subject to credit risk with the full faith and credit of the State of California collateralizing these investments. In addition, these structured notes and asset-backed securities are subject to market risk as to change in interest rates.

259
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

44 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

D. Restricted Cash and Investments

Certain restricted cash and investments are held 1) held for transit related activities or 2) by a fiscal agent for the redemption of bonded debt and for acquisition and construction of capital projects.

E. Prepaid Items

Certain payments to vendors reflect cost applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements. The cost of prepaid items is recorded as expenditures/expenses when consumed rather than when purchased.

F. Capital Assets

Capital assets are valued at historical cost or estimated historical cost if actual historical cost was not available. Donated capital assets are valued at acquisition value on the date of the donation. City policy has set the capitalization threshold for reporting capital assets at $5,000.

Depreciation is recorded on a straight-line basis over estimated useful lives of the assets as follows:

Years
Buildings 30
Infrastructure 35 - 120
Machinery and equipment 3 - 5
Furniture and fixtures 3 - 5
Vehicles 3
Computer equipment 3
The City defines infrastructure as the basic physical assets that allow the City to function. The infrastructure assets include streets (including bridges, streetlights, sidewalks, culverts and curbs), sewer system (including plant, collection systems, drains, lift stations), and park lands.

Each major infrastructure system can be divided into subsystems. For example, the street system can be subdivided into pavement, curb and gutters, sidewalks, medians, streetlights, landscaping and land. These subsystems were not delineated in the basic financial statements. The appropriate operating department maintains information regarding the subsystems. Interest accrued during capital assets construction, if any, is capitalized for the business-type and proprietary funds as part of the asset cost.

260
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

45 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

G. Long-Term Debt

Government-Wide Financial Statements

Long-term debt and other financial obligations are reported as liabilities in the appropriate funds.

Bond premiums and discounts, as well as insurance premiums paid to bond insurers, are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable premium or discount. Issuance costs are expensed in the period when incurred.

Fund Financial Statements

The fund financial statements do not present long-term assets or liabilities. These amounts are shown in the reconciliation of the governmental funds balance sheet to the government- wide statement of net position.

H. Compensated Absences

Government-Wide Financial Statements

City employees have vested interest in varying levels of vacation and sick leave based on their length of employment and related bargaining unit. Vacation leave is payable to employees at the time a vacation is taken or upon termination of employment. Vacation leave balance accruals are capped at two the employee's annual accrual rate. Sick leave is payable only when an employee is unable to work due to personal or family illness or at separation from employment at different levels depending on the length of employment arid the bargaining unit. There is no cap on the amount of sick leave that can be accrued but there is a cap on the amount that can be cashed out upon termination. Employees with less than five years of employment do not have vested privilege on sick leave and their sick leave is forfeited upon termination. The amount of compensated absences is accrued when incurred in the government-wide financial statements.

Fund Financial Statements

In governmental funds, compensated absences are recorded as expenditures in the years paid. It is the City's policy to liquidate unpaid compensated absences from future resources, rather than currently available financial resources. When an employee is terminated at fiscal year end, the amount of his or her reimbursable unused vacation and/or sick leave is recorded as a liability in the governmental funds. In proprietary funds, compensated absences are expensed to the various funds in the period they are earned, and such fund's share of the unpaid liability is recorded as a long-term liability of the fund.

261
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

46 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

I. Pensions

The City contracts with the California Public Employees' Retirement System (CalPERS) to provide a defined benefit pension plan for its employees and retirees. For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources, and pension expense, information about the fiduciary net position of the plans and additions to/deductions from the plans' fiduciary net position have been determined on the same basis as they are reported by the plans (Note 10). For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with benefit terms. Investments are reported at fair value.

The following timeframes are used for pension plan reporting:

CalPERS:

Valuation Date 6/30/2019
Measurement Date 6/30/2020
Measurement Period July 1, 2019 to June 30, 2020
Gains and losses related to changes in CalPERS estimates and assumption for determining the total pension liability and fiduciary net position are recognized in pension expense systematically over time. The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources and are recognized in future pension expense. The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized straight-line over 5 years. All other amounts are amortized straight-line over the average expected remaining service lives of all members that are provided with benefits (active, inactive, and retired) as of the beginning of the measurement period.

J. Property Taxes

Property taxes are levied on January 1 and are payable in two installments: November 1 and February 1 of each year. Property taxes become delinquent on December 10 and April 10, for the first and second installments, respectively. The lien date is March 1. The County of Riverside, California (County) bills and collects the property taxes and remits them to the City according to a payment schedule established by the County. City property tax revenues are recognized when received in cash except at year end when they are accrued pursuant to the modified accrual basis of accounting. The City recognizes as revenues at June 30 available taxes or those collected within 60 days.

The County is permitted by State law to levy taxes at 1% of full market value (at time of purchase) and can increase the property tax rate no more than 2% per year. The City receives a share of this basic levy proportionate to what it received during the years 1976 to 1978.

262
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

47 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

K. Net Position

For government-wide and proprietary fund financial statements, net position is categorized as follows:

Net Investment in Capital Assets - This component of net position consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of debt that are attributable to the acquisition, construction, or improvement of those assets.

Restricted - This component of net position consists of restricted assets reduced by liabilities and deferred inflows of resources related to those assets.

Unrestricted - This component of net position is the amount of the assets, deferred outflows of resources, liabilities, and deferred inflows of resources that are not included in the determination of net investment in capital assets or the restricted component of net position.

When expenses are incurred for purposes for which both restricted and unrestricted net position is available, the City's policy is to apply restricted net position first.

L. Fund Balances

For governmental fund financial statements, fund balances are categorized as follows:

Nonspendable - Items that cannot be spent because they are not in spendable form, such as prepaid items and inventories and long term receivables, or items that are legally or contractually required to be maintained intact, such as principal of an endowment or revolving loan funds.

Restricted - Restricted fund balances encompass the portion of net fund resources subject to externally enforceable legal restrictions. This includes externally imposed restrictions by creditors, such as through debt covenants, grantors, contributors, laws or regulations of other governments, as well as restrictions imposed by law through constitutional provisions or enabling legislation.

Committed - Committed fund balances encompass the portion of net fund resources, the use of which is constrained by limitations imposed by the formal action of the government's highest level of decision making authority normally through resolutions, etc., and that remain binding unless rescinded or modified in the same manner. The City Council is considered the highest authority for the City.

Assigned - Assigned fund balances encompass the portion of net fund balance reflecting the government's intended use of resources. Assignment of resources can be done by the highest level of decision making or by a committee or official designated for that purpose. On April 5, 2016, the City Council adopted the financial management policies that includes a fund balance policy authorizing the City Manager to make these determination.

263
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

48 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

L. Fund Balances (Continued)

Unassigned - This amount is for any portion of the fund balances that do not fall into one of the above categories. The General Fund is the only fund that reports a positive unassigned fund balance amount. In other governmental funds, it is not appropriate to report a positive unassigned fund balance amount. However, in governmental funds other than the General Fund, if expenditures incurred for specific purposes exceed the amounts that are restricted, committed or assigned for those purposes, it may be necessary to report negative unassigned fund balance in that particular fund.

When expenditures are incurred for purposes for which both restricted and unrestricted fund balances are available, the City's policy is to apply restricted fund balances first, then unrestricted fund balances as they are needed.

When expenditures are incurred for purposes where only unrestricted fund balances are available, the City uses the unrestricted resources in the following order: committed, assigned, and unassigned.

M. Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosure.

Accordingly, actual results could differ from those estimates.

N. Fair Value Measurement

U.S. GAAP defines fair value, establishes a framework for measuring fair value and establishes disclosures about fair value measurement. Investments, unless otherwise specified, recorded at fair value in the Statements of Net Position, are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Levels of inputs are as follows:

Level 1 - Inputs are unadjusted, quoted prices for identical assets and liabilities in active markets at the measurement date.

Level 2 - Inputs, other than quoted prices included in Level 1, that are observable for the assets or liabilities through corroboration with market data at the measurement date.

Level 3 - Unobservable inputs that reflect management's best estimate of what market participants would use in pricing the assets or liabilities at the measurement date.

264
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

49 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued)

O. Upcoming Governmental Accounting Standards Implementation

The City is currently analyzing its accounting practices to determine the potential impact on the financial statements for the following GASB statements:

GASB Statement No. 87

In June 2017, GASB issued Statement No. 87, Leases. This Statement increases the usefulness of governments' financial statements by requiring recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. It establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Under this Statement, a lessee is required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources, thereby enhancing the relevance and consistency of information about governments' leasing activities. Application of this statement is effective for the City's fiscal year ending June 30, 2022.

GASB Statement No. 89

In June 2018, GASB issued Statement No. 89, Accounting for Interest Cost Incurred before the End of a Construction Period. This Statement establishes accounting requirements for interest cost incurred before the end of a construction period. Such interest cost includes all interest that previously was accounted for in accordance with the requirements of paragraphs 5-22 of Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements, which are superseded by this Statement. This Statement requires that interest cost incurred before the end of a construction period be recognized as an expense in the period in which the cost is incurred for financial statements prepared using the economic resources measurement focus.

As a result, interest cost incurred before the end of a construction period will not be included in the historical cost of a capital asset reported in a business-type activity or enterprise fund.

Application of this statement is effective for the City's fiscal year ending June 30, 2022.

265
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

50 Note 1 - Reporting Entity and Summary of Significant Accounting Policies (Continued) O. Upcoming Governmental Accounting Standards Implementation (Continued)

GASB Statement No. 91

In May 2019, 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 issuers, (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 for accounting and financial reporting of additional commitments and voluntary commitments extended by issuers and arrangements associated with conduit debt obligations; and improving required note disclosures. Application of this statement is effective for the SEJPA's fiscal year ending June 30, 2023.

P. Implementation of New Pronouncements

GASB has 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. This Statement establishes criteria 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 assets of the fiduciary activity and (2) the beneficiaries with whom a fiduciary relationship exists. Separate criteria are included to identify fiduciary component units and postemployment benefit arrangements that are fiduciary activities.

Note 2 - Cash and Investments

A. Cash Deposits

The following is a summary of pooled cash and investments and restricted cash and investments at June 30, 2021:

Statement of Net Position
Cash and investments 121,951,224$
Restricted cash and investments 595,399
Restricted cash and investments with fiscal agent 11,689,388 Restricted investments in CFDs 78,745,000
Statement of Fiduciary Net Position
Cash and investments 18,504,331
Restricted cash and investments with fiscal agent 25,115,350 Total 256,600,692$

266
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

51 Note 2 - Cash and Investments (Continued)

A. Cash Deposits (Continued)

Cash, cash equivalents, and investments, consisted of the following at June 30, 2021:

Deposits with financial institutions 43,104,438$
Deposits with fiscal agents 29,283,831
Petty cash 3,753
Investments 184,208,670
Total cash and investments 256,600,692$

At June 30, 2021, cash and investments, are reported at fair value based on quoted market prices. The following table represents the fair value measurements of investments recognized in the accompanying Statement of Net Position measured at on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2021:

Total
as of Measurement
June 30, 2021 Inputs
Investments:

State investment pool 74,557,725$ Uncategorized N/A
Certificate of deposit 203,410 Uncategorized N/A Money market funds 29,922,535 Uncategorized N/A
Guaranteed investment contract 780,000 Uncategorized N/A Restricted investments in CFDs 78,745,000 Uncategorized N/A Total 184,208,670$
Valuation
Techniques

The carrying amount of the City's demand deposits are $65,308,570 at June 30, 2021. Bank balances were $66,463,702 at that date; the total amount is collateralized or insured with securities held by the pledging financial institutions in the City's name is discussed below.

The California Government Code requires California banks and savings and loan associations to secure the City's cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus, collateral for cash deposits is considered to be held in the City's name.

The market value of pledged securities must equal at least 110% of the City's cash deposits.

California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the City's total cash deposits. The City may waive collateral requirements for cash deposits; however, the City has not waived the collateralization requirements.

267
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

52 Note 2 - Cash and Investments (Continued)

B. Investments

Investments Authorized by the California Government Code and the City's Investment Policy

The table below identifies the investment types that are authorized for the City by the California Government Code (or the City's investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the City's investment policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of bond proceeds held by the City's bond trustee (fiscal agent) which is described below.

Maximum Maximum
Authorized Maximum Percentage Investment
Investment Type Maturity of Portfolio in One Issuer
Local Agency Investment Fund (LAIF) N/A 100% $75 million Negotiable Certificates of Deposits 5 Years 100% None
Money Market Funds N/A 100% None
Guaranteed Investment Contracts N/A 100% None
Government Securities Mutual Funds N/A 20% None
Local Obligation Bonds* 5 Years None None
*Limited to 5 years,exceptpermits investment in variable rate demand obligations that are City obligations up to 10 year maturity, as allowed under IRS and SEC rulings .

268
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

53 Note 2 - Cash and Investments (Continued)

B. Investments (Continued)

Investments Authorized by Debt Agreements

Investments of bond proceeds held by the City's bond trustee are governed by provisions of the related debt agreement rather than the general provisions of the California Government Code or the City's investment policy. The table below identifies certain provisions of these debt agreements that address interest rate risk, credit risk, and concentration of credit risk.

Maximum Maximum
Authorized Maximum Percentage Investment
Investment Type Maturity of Portfolio in One Issuer
Local Agency Investment Fund (LAIF) N/A None None
Negotiable Certificates of Deposits None None None
Money Market Mutual Funds N/A None None
Guaranteed Investment Contracts None None None
Community Facilities District Bonds None None None
U.S. Treasury Obligations None None None
U.S. Agency Obligations None None None
Municipal Obligations None None None
Banker's Acceptances, Prime Quality 360 Days None None
Commercial Paper, Prime Quality 270 Days None None
C. External Investment Pool

The City is a voluntary participant in LAIF, which is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The City's investments in LAIF at June 30, 2021 included a portion of pool funds invested in Structure Notes and Asset-Backed Securities:

Structured Notes, are debt securities (other than asset-backed securities) whose cash- flow characteristics (coupon rate, redemption amount, or stated maturity) depend upon one or more indices and/or that have embedded forwards or options.

Asset-Backed Securities, the bulk of which are mortgage-backed securities, entitle their purchasers to receive a share of the cash flows from pool of assets such as principal and interest repayments from a pool of mortgages (such as Collateralized Mortgage Obligations) or credit card receivables.

As of June 30, 2021, the City had $74,557,725 invested in LAIF, which had invested 2.31% of the pool investment funds in Structured Notes and Asset-Backed Securities. LAIF determines fair value on its investment portfolio based on market quotations for those securities where market quotations are readily available and based on amortized cost or best estimate for those securities where market value is not readily available. The value of the City's position in the pool is the same as the value of the pool shares. LAIF is unrated as of June 30, 2021.
269
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

54 Note 2 - Cash and Investments (Continued)

D. Investment in CFD Bonds

The Beaumont Financing Authority (BFA) and the Beaumont Public Improvement Authority (BPIA) issued Local Agency Revenue Bonds ("Authority Bonds") for investment in the City of Beaumont Community Facilities District (CFD) Special Tax Bonds ("District Bonds"). The District Bonds are local obligation bonds secured solely by special assessments on property owners within the CFD. The Authority Bonds issued by the BFA are repaid solely by debt service payments made on the District Bonds to the BFA. The repayment schedules of the District Bonds, and interest thereon, to the BFA; are concurrent and sufficient to satisfy the debt service requirements of the respective Authority Bonds.

E. Risk Disclosures

Interest Rate Risk

Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity, the greater the sensitivity its fair value is to changes in market interest rates. As a means of limiting its exposure to fair value losses arising from rising interest rates, the City's investment policy provides that final maturities of securities cannot exceed five years. Investments governed by the bond indentures may be longer. Maturities of investments vary and depend on liquidity needs of the City.

As of June 30, 2021, the City had the following investments and maturities:

Maturities
Amount 1 year or less 1 - 5 years More than 5 years
Investments:

State investment pool 74,557,725$ 74,557,725$ -$ -$ Certificate of deposit 203,410 203,410 - - Money market funds 29,922,535 29,922,535 - - Guaranteed investment contract 780,000 - - 780,000 Restricted investments in CFDs 78,745,000 3,035,600 17,335,000 58,374,400 Total 184,208,670$ 107,719,270$ 17,335,000$ 59,154,400$

270
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

55 Note 2 - Cash and Investments (Continued)

E. Risk Disclosures (Continued)

Credit Risk

Credit Risk is the risk of loss due to failure of the security issuer. The risk can be identified thru the rating assigned by a nationally recognized statistical rating organization to the issuers of securities. The City minimizes this risk by investing only in the type of investments allowed for municipalities by the Government Code as listed on the City's investment policy and investing only in instruments that are most credit worthy.

Total
as of Measurement
June 30, 2021 Inputs
Investments:

Custodial Credit Risk

For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. None of the City's investments were subject to custodial credit risk.

271
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

56 Note 2 - Cash and Investments (Continued)
E. Risk Disclosures (Continued)

Concentration of Credit Risk

The investment policy of the City contains no limitations on the amount that can be invested in any one issuer beyond the amount stipulated by the California Government Code. City investments that are greater than 5 percent of the total investments are in either an external investment pool or mutual funds and are therefore exempt. The City's investment in CFDs is restricted and is secured by special assessments from property owners and a tax lien on the underlying property.

Total Percentage
as of of
Investment Type June 30, 2021 Investments
Investments:

State investment pool 74,557,725$ 40.47%
Certificate of deposit 203,410 0.11%
Money market funds 29,922,535 16.24%
Guaranteed investment contract 780,000 0.42%
Restricted investments in CFDs 78,745,000 42.75%
Total 184,208,670$

Note 3 - Loans Receivable

A. Governmental Activities

For the year ended June 30, 2021, changes in the loan receivable of the City's loan program is as follows:

Balance Balance
July 1, 2020 Additions Deletions June 30, 2021
Loan receivable:

Calimesa loan 224,671$ 1,044$ -$ 225,715$ Total 224,671$ 1,044$ -$ 225,715$

Calimesa Loan

The City entered into a loan agreement with City of Calimesa for the design and construction of portions of Cherry Valley Boulevard and Palmer Drive. The City of Calimesa will repay the loans within the next 20 years, plus simple interest annually at the rate paid by the Local Agency Investment Fund (LAIF) on January 1 of each year on the unpaid balance. The balance of the loan totaled $225,715 at June 30, 2021. This balance includes interest of $16,974 calculated at the LAIF rate of 0.50%.
272
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

57 Note 4 - lnterfund Balances and Transactions

A. Transfers

Transfers in and out for the year ended June 30, 2021, were as follows:

Transfers In Transfers Out Amount Purpose
General Fund Community Facilities District- Special Revenue Fund 6,333,612$ CFD- City maintenance/admin General Fund Non-major funds 3,193,683 Federal Cares Act/ ARPA Funding General Fund Wastewater Fund 650,000 Admin Overhead General Fund Transit Fund 100,000 Admin Overhead Subtotal 10,277,295
Transit Fund Non-major funds 278,846 Premium Pay from ARPA Grant Subtotal 278,846
Non-major funds Non-major funds 467,044 Correct CIP Funding Subtotal 467,044
Development Impact Fee Fund General Fund 167,292 Capital Projects Non-major funds 139,841 Capital Projects
Subtotal 307,133
Wastewater Fund Non-major funds 130,010 Premium Pay from ARPA Grant Wastewater Fund Community Facilities Fund-Capital Projects Fund 101,185 Capital Projects Subtotal 231,195
Internal Service Fund General Fund 109,500 Smart Irrigation Purchase Internal Service Fund Community Facilities District- Special Revenue Fund 6,300,000 Facility Maintenance Replacement Subtotal 6,409,500
General Capital Projects Fund General Fund 6,910,432 Capital projects General Capital Projects Fund Development Impact Fee Fund 528,908 Capital projects General Capital Projects Fund Non-major funds 18,842 Capital projects General Capital Projects Fund Community Facilities Fund-Capital Projects Fund 119,823 Capital Projects Subtotal 7,578,005
Total 25,549,018$

273
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

58 Note 5 - Capital Assets

A. Governmental Activities

Summary of changes in capital assets for governmental activities for the year ended June 30, 2021 is as follows:

Balance Balance
July 1, 2020 Additions Deletions June 30, 2021
Nondepreciable assets:

Land 28,547,468$ -$ -$ 28,547,468$ Construction in progress 30,405,380 4,940,605 (27,545,496) 7,800,489 Total nondepreciable assets 58,952,848 4,940,605 (27,545,496) 36,347,957 Depreciable assets:

Building and improvements 19,980,342 263,732 20,244,074 Machinery and equipment 7,408,174 709,973 (80,146) 8,038,001 Vehicles 3,096,549 568,789 (200,000) 3,465,338 Infrastructure 419,534,936 29,353,850 - 448,888,786 Subtotal 450,020,001 30,896,344 (280,146) 480,636,199 Less accumulated depreciation:

Building and improvements (10,035,561) (363,447) (10,399,008) Machinery and equipment (4,170,407) (385,566) 73,400 (4,482,573) Vehicles (2,394,782) (296,024) 200,000 (2,490,806) Infrastructure (215,291,337) (4,956,402) - (220,247,739) Subtotal (231,892,087) (6,001,439) 273,400 (237,620,126) Total depreciable assets, net 218,127,914 24,894,905 (6,746) 243,016,073 Total 277,080,762$ 29,835,510$ (27,552,242)$ 279,364,030$

Governmental activities depreciation expenses for capital assets for the year ended June 30, 2021 are as follows:

General government 79,129$
Public safety 281,115
Public works 5,162,338
Community development 82,467
Community services 396,390
Total depreciation expense 6,001,439$

274
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

59 Note 5 - Capital Assets (Continued)

B. Business-Type Activities

Summary of changes in capital assets for business-type activities for the year ended June 30, 2021 is as follows:

Balance Balance
July 1, 2020 Additions Deletions June 30, 2021
Nondepreciable assets:

Land 3,009,860$ -$ -$ 3,009,860$ Construction in progress 81,272,806 22,655,032 (303,913) 103,623,925 Total nondepreciable assets 84,282,666 22,655,032 (303,913) 106,633,785 Depreciable assets:

Building and improvements 621,548 - - 621,548 Machinery and equipment 89,385,271 362,585 - 89,747,856 Vehicles 4,599,111 837,075 - 5,436,186 Infrastructure 145,142,413 357,455 - 145,499,868 Subtotal 239,748,343 1,557,115 - 241,305,458 Less accumulated depreciation:

Building and improvements (526,038) (35,702) - (561,740) Machinery and equipment (44,266,787) (3,245,076) - (47,511,863) Vehicles (3,712,511) (551,120) - (4,263,631) Infrastructure (74,299,952) (4,280,545) - (78,580,497) Subtotal (122,805,288) (8,112,443) - (130,917,731) Total depreciable assets, net 116,943,055 (6,555,328) - 110,387,727 Total 201,225,721$ 16,099,704$ (303,913)$ 217,021,512$ Business-type activities depreciation expenses for capital assets for the year ended June 30, 2021 are as follows:

Sewer 7,555,416$
Transit 557,027
Total depreciation expense 8,112,443$
C. Fiduciary Fund Financial Statements

Summary of changes in capital assets for the City's Successor Agency for the year ended June 30, 2021 is as follows:

Balance Balance
July 1, 2020 Additions Deletions June 30, 2021
Nondepreciable assets:

Land 21,826$ -$ -$ 21,826$ Total nondepreciable assets 21,826 - - 21,826 Total 21,826$ -$ -$ 21,826$

275
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

60 Note 6 - Long-Term Obligations

A. Governmental Activities

Summary of changes in long-term liabilities for the governmental activities for the year ended June 30, 2021 is as follows:

Classification
Balance Balance Due Within Due in More
July 1, 2020 Additions Deletions June 30, 2021 One Year Than One Year Governmental Activities:

City
AB 1484 Due Diligence Review 1,075,912$ -$ (300,000)$ 775,912$ 300,000$ 475,912$ Capital Leases 251,240 - (98,560) 152,680 96,390 56,290 Beaumont Public Financing Authority
1994 Revenue Bonds, Series A 2,530,000 - (560,000) 1,970,000 600,000 1,370,000 2011 Revenue Bonds, Series A & B 11,930,000 - (11,930,000) - - - 2012 Revenue Bonds, Series A 5,600,000 - (5,600,000) - - - 2012 Revenue Bonds, Series B 2,955,000 - (2,955,000) - - - 2012 Revenue Bonds, Series C 3,345,000 - (3,345,000) - - - 2013 Revenue Bonds, Series A 6,014,700 - (6,014,700) - - - 2013 Refunding Revenue Bonds, Series B 8,680,000 - (8,680,000) - - - 2015 Refunding Revenue Bonds, Series A 10,000,000 - (230,000) 9,770,000 235,000 9,535,000 2015 Refunding Revenue Bonds, Series B 16,810,000 - (790,000) 16,020,000 805,000 15,215,000 2015 Refunding Revenue Bonds, Series C 4,265,000 - (225,000) 4,040,000 235,000 3,805,000 2015 Refunding Revenue Bonds, Series D 6,320,000 - (335,000) 5,985,000 340,000 5,645,000 2019 Refunding Revenue Bonds, Series A 5,375,000 - (290,000) 5,085,000 330,000 4,755,000 2020 Revenue Bonds, Series A - 17,200,000 - 17,200,000 485,000 16,715,000 2021 Revenue Bonds, Series A - 18,675,000 - 18,675,000 - 18,675,000 Bond premium-2019 revenue bond series A 1,014,920 - (78,071) 936,849 78,071 858,778 Total Revenue Bonds 84,839,620 35,875,000 (41,032,771) 79,681,849 3,108,071 76,573,778 Total governmental activities 86,166,772$ 35,875,000$ (41,431,331)$ 80,610,441$ 3,504,461$ 77,105,980$ AB 1484 Due Diligence Review

The City has entered into an agreement with the State of California, Department of Finance (State) to pay an outstanding amount due from the State's Due Diligence Review. The original amount due was $2,875,912, and the outstanding balance at June 30, 2021 is $775,912. The agreement calls for annual payments of $300,000 through July 15, 2022, with a final payment of $175,912 due on July 15, 2023. The City will utilize "residual" pass-through payments received by the City's General Fund to pay this debt of the former Redevelopment Agency.

There is no interest charged by the State.

The annual debt service requirements are as follows:

Year Ending
June 30, Total
2022 300,000$
2023 300,000
2024 175,912
Total 775,912$

276
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

61 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Capital Lease

The City has entered into several lease agreements for the financing of public works vehicles, police vehicles, and equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of future minimum lease payments as of the date of inception.

The annual debt service requirements for the capital leases payable outstanding at June 30, 2021 are as follows:

Year Ending
June 30, Principal Interest Total
2022 96,390$ 4,558$ 100,948$
2023 56,290 1,292 57,582
Totals 152,680$ 5,850$ 158,530$
The City entered into capital lease-purchase agreements whereby the lessor acquired certain capital assets and leased them to the City with the option to purchase. The leased assets are included in capital assets and are summarized by major asset class below:

Amount
Vehicles 344,718$
Less: accumulated depreciation (178,120)
Total 166,598$
Revenue Bonds

Local Revenue Bonds - 1994

On January 15, 1994, the BFA issued $7,535,000 of 1994 Local Agency Revenue Bonds- Series A and $2,755,000 of 1994 Local Agency Revenue Bonds - Series B (the "Authority Bonds") for the purpose of acquiring the concurrently issued City of Beaumont Community Facilities District No. 93-1 Special Tax Bonds, 1994 Series A (the "District Bonds") in the amount of $9,260,000. Proceeds from the Authority Bonds were used to purchase the District bonds. The bonds were issued to provide the District with funds to design or acquire certain public improvements relating to the District, including water treatment plant facilities and infrastructure.

277
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

62 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Revenue Bonds - 1994 (Continued)

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest was payable on September 1, 1994, and semiannually thereafter on March 1 and September 1 of each year until maturity. Series A Authority Bonds are 7.0% term bonds due September 1, 2023, with sinking payments to be made beginning September 1, 2004. Series B Authority Bonds consist of $365,000 serial bonds maturing annually in amounts between $65,000 and $80,000 from September 1, 1999 through September 1, 2003. Thereafter, $2,390,000 of 7.5% term bonds are due September 1, 2023, with sinking payments to be made beginning September 1, 2004.

Neither the Authority Bonds nor the District Bonds are general obligations of the City nor any other political subdivision and the full faith and credit of the City is not pledged for repayment thereof. The outstanding indebtedness at June 30, 2021, on the Series A Bonds was $1,970,000.

The District Bonds do not constitute an obligation of the City and the City is not obligated to make payment beyond the special taxes and available bond reserves.

Local Agency Revenue Bonds - 2011 Series A and B

On December 15, 2011, the BFA issued $12,145,000 of 2011 Local Agency Revenue Bonds, Series A (the "Authority Bonds") for the purpose of refunding the Beaumont Financing Authority 2009 Local Agency Revenue Bonds, Series A and B, the Beaumont Financing Authority 2009 Local Agency Revenue Bonds, Series A and B, and acquiring the City of Beaumont Community Facilities District No. 93-1 Special Tax Bonds ("District Bonds") in the amount of $11,039,529. These bonds were issued to provide the District with funds to finance public infrastructure relating to respective improvements areas, fund interest on the bonds, pay expenses relating to the issuance of the bonds and fund a reserve account.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2012 until maturity or earlier redemption. The Bonds consist of $1,405,000 serial bonds maturing annually in amounts between $10,000 and $250,000 from September 1, 2015 through September 1, 2026 with interest rates between 3.500% and 5.500%. Thereafter, $1,820,000 of 6.125% term bonds are due September 1, 2031, with sinking payments to be made beginning September 1, 2027, and $8,920,000 of 6.375% term bonds are due September 1, 2042, with sinking payments to be made beginning September 1, 2032.

278
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

63 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Agency Revenue Bonds - 2011 Series A and B (Continued)

On August 13, 2020, the City issued $17,200,000 in refunding revenue bonds with an average interest rate of 2% to advance refund $11,540,000 of outstanding 2011 Series A and B debt.

As a result, the 2011 Series A and B bonds are considered to be refunded and the liability for these bonds has been removed from the government-wide statement of net position.

The refunding did result in a difference between the reacquisition price and the net carrying amount of old debt. The City completed the refunding to reduce its total debt service payments over 23 years by $7,747,589 and to obtain an economic gain (difference between the present values of the old and new debt service payments) of $3,961,708.

Local Agency Revenue Bonds - 2012 Series A

On March 14, 2012, the BFA issued $5,650,000 of 2012 Local Agency Revenue Bonds, Series A (the "Authority Bonds") for the purpose of acquiring the City of Beaumont Community Facilities District No. 93-1 Special Tax Bonds ("District Bonds") in the amount of $4,936,658.

These bonds were issued to provide the District with funds to finance public infrastructure relating to Improvements Area No. 8C, fund interest on the bonds, pay expenses relating to the bonds and fund a reserve account.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2017 until maturity or earlier redemption. The Bonds consist of $155,000 serial bonds maturing annually in amounts between $10,000 and $120,000 from September 1, 2017 through September 1, 2029 with interest rates between 3.500% and 5.250%. Thereafter, $400,000 of 5.625% term bonds are due September 1, 2032, with sinking payments to be made beginning September 1, 2030, and $4,475,000 of 5.875% term bonds are due September 1, 2042, with sinking payments to be made beginning September 1, 2033.

279
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

64 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Agency Revenue Bonds - 2012 Series A (Continued)

On August 13, 2020, the City issued $17,200,000 in refunding revenue bonds with an average interest rate of 2% to advance refund $5,660,000 of outstanding 2012 Series A debt. As a result, the 2012 Series A bonds are considered to be refunded and the liability for these bonds has been removed from the government-wide statement of net position.

The refunding did result in a difference between the reacquisition price and the net carrying amount of old debt. The City completed the refunding to reduce its total debt service payments over 23 years by $2,783,288 and to obtain an economic loss (difference between the present values of the old and new debt service payments) of $1,331,751.

Local Agency Revenue Bonds - 2012 Series B

On April 10, 2012, the BFA issued $3,265,000 of 2012 Local Agency Revenue Bonds, Series B (the "Authority Bonds") for the purpose of acquiring the City of Beaumont Community Facilities District No. 93-1 Special Tax Bonds ("District Bonds") in the amount of $2,690,661.

These bonds were issued to provide the District with funds to finance public infrastructure relating to Improvements Area No. 20, fund interest on the bonds, pay expenses relating to the bonds and fund a reserve account. public infrastructure relating to Improvements Area No. 20, fund interest on the bonds, pay expenses relating to the bonds and fund a reserve account.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2015 until maturity or earlier redemption. The Bonds consist of $1,120,000 serial bonds maturing annually in amounts between $50,000 and $150,000 from September 1, 2015 through September 1, 2026 with interest rates between 3.500% and 5.500%.

Thereafter, $2,145,000 of 5.950% term bonds are due September 1, 2035, with sinking payments to be made beginning September 1, 2027.

280
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

65 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Agency Revenue Bonds - 2012 Series B (Continued)

On June 30, 2021, the City issued $18,675,000 in refunding revenue bonds with an average interest rate of 1.43% to advance refund $2,615,000 of outstanding 2012 Series B debt. As a result, the 2012 Series B bonds are considered to be refunded and the liability for these bonds has been removed from the government-wide statement of net position.

The refunding did result in a difference between the reacquisition price and the net carrying amount of old debt. The City completed the refunding to reduce its total debt service payments over 14 years by $1,166,430 and to obtain an economic gain (difference between the present values of the old and new debt service payments) of $567,229.

Local Agency Revenue Bonds - 2012 Series C

On May 23, 2012, the BF A issued $3,655,000 of 2012 Local Agency Revenue Bonds, Series C (the "Authority Bonds") for the purpose of acquiring the City of Beaumont Community Facilities District No. 93-1 Special Tax Bonds ("District Bonds") in the amount of $3,122,785.

These bonds were issued to provide the District with funds to finance public infrastructure relating to Improvements Area No. 7B and No. 7C, fund interest on the bonds, pay expenses relating to the bonds and fund a reserve account.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2013 until maturity or earlier redemption. The Bonds consist of $760,000 serial bonds maturing annually in amounts between $20,000 and $105,000 from September 1, 2013 through September 1, 2025 with interest rates between 1.500% and 4.250%. Thereafter, $2,895,000 of 5.250% term bonds are due September 1, 2039, with sinking payments to be made beginning September 1, 2026.

On June 30, 2021, the City issued $18,675,000 in refunding revenue bonds with an average interest rate of 1.43% to advance refund $3,045,000 of outstanding 2012 Series C debt. As a result, the 2012 Series C bonds are considered to be refunded and the liability for these bonds has been removed from the government-wide statement of net position.

281
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

66 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Agency Revenue Bonds - 2012 Series C (Continued)

The refunding did result in a difference between the reacquisition price and the net carrying amount of old debt. The City completed the refunding to reduce its total debt service payments over 18 years by $1,286,161 and to obtain an economic gain (difference between the present values of the old and new debt service payments) of $604,476.

Local Agency Revenue Bonds - 2013 Series A

On January 17, 2013, the BFA issued $8,810,000 of 2013 Local Agency Revenue Bonds, Series A (the "Authority Bonds") for the purpose of acquiring the City of Beaumont Community Facilities District No. 93-1 Special Tax Bonds ("District Bonds") in the amount of $7,865,887.

The District Bonds were issued to provide the District with funds to finance public infrastructure related to Improvements Area No. 19C, fund interest on the bonds, pay expenses relating to the issuance of the bonds and fund a reserve account. The Authority Bonds are payable from and secured by repayment of the District Bonds. Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2013 until maturity or earlier redemption. The Bonds consist of $4,180,000 serial bonds maturing annually in amounts between $55,000 and $420,000 from September 1, 2013 through September 1, 2022 with interest rates between 1.500% and 4.250%.

Thereafter, $1,965,000 of 5% term bonds are due September 1, 2027, with sinking payments to be made beginning September 1, 2023, and $2,665,000 of 5% term bonds are due September 1, 2036, with sinking payments to be made beginning September 1, 2028.

On June 30, 2021, the City issued $18,675,000 in refunding revenue bonds with an average interest rate of 1.43% to advance refund $4,940,000 of outstanding 2013 Series A debt. As a result, the 2013 Series A bonds are considered to be refunded and the liability for these bonds has been removed from the government-wide statement of net position.

The refunding did result in a difference between the reacquisition price and the net carrying amount of old debt. The City completed the refunding to reduce its total debt service payments over 15 years by $1,254,934 and to obtain an economic gain (difference between the present values of the old and new debt service payments) of $349,311.

282
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

67 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Agency Refunding Revenue Bonds - 2013 Series B

On April 2, 2013, the BFA issued $10,875,000 of 2013 Local Agency Refunding Revenue Bonds, Series B (the "Authority Bonds") for the purpose of refunding the Beaumont Financing Authority 2003 Local Agency Revenue Bonds Series B and acquiring the City of Beaumont Community Facilities District No. 93-1 Special Tax Bonds ("District Bonds") in the amount of $130,500.

These bonds were issued to provide the District with funds to finance public infrastructure related to Improvements area No. 17 A, fund interest on the bonds, pay expenses relating to the issuance of the bonds and fund a reserve account.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2015 until maturity or earlier redemption. The Bonds consist of $3,810,000 serial bonds maturing annually in amounts between $245,000 and $475,000 from September 1, 2013 through September 1, 2023 with interest rates between 2.000% and

5.000%. Thereafter, $2,740,000 of 5% term bonds are due September 1, 2028, with sinking payments to be made beginning September 1, 2024, and $4,325,000 of 5% term bonds are due September 1, 2034, with sinking payments to be made beginning September 1, 2029.

On June 30, 2021, the City issued $18,675,000 in refunding revenue bonds with an average interest rate of 1.43% to advance refund $8,075,000 of outstanding 2013 Series B debt. As a result, the 2013 Series B bonds are considered to be refunded and the liability for these bonds has been removed from the government-wide statement of net position.

The refunding did result in a difference between the reacquisition price and the net carrying amount of old debt. The City completed the refunding to reduce its total debt service payments over 14 years by $1,759,444 and to obtain an economic gain (difference between the present values of the old and new debt service payments) of $620,256.

283
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

68 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Agency Refunding Revenue Bonds - 2015 Series A

On March 17, 2015, the BFA issued $11,110,000 of 2015 Local Agency Revenue Bonds, Series A (the "Authority Bonds") for the purpose of refunding the Beaumont Financing Authority 2005 Local Agency Revenue Bonds Series B.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2015 until maturity or earlier redemption. Interest on the bonds ranges from

2.00% to 5.00%.

The District Bonds do not constitute an obligation of the City and the City is not obligated to make payment beyond the special taxes and available bond reserves.

Local Agency Refunding Revenue Bonds - 2015 Series B

On April 23, 2015, the BFA issued $20,095,000 of 2015 Local Agency Refunding Revenue Bonds, Series B (the "Authority Bonds") for the purpose of refunding the Beaumont Financing Authority 2004 Local Agency Revenue Bonds Series D.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2015 until maturity or earlier redemption. Interest on the bonds ranges from

2.00% to 5.00%.

The District Bonds do not constitute an obligation of the City and the City is not obligated to make payment beyond the special taxes and available bond reserves.

284
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

69 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Agency Refunding Revenue Bonds - 2015 Series C

On May 15, 2015, the BFA issued $5,335,000 of 2015 Local Agency Refunding Revenue Bonds, Series C (the "Authority Bonds") for the purpose of refunding the Beaumont Financing Authority 2004 Local Agency Revenue Bonds Series A.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2015 until maturity or earlier redemption. Interest on the bonds ranges from

2.00% to 4.125%.

The District Bonds do not constitute an obligation of the City and the City is not obligated to make payment beyond the special taxes and available bond reserves.

Local Agency Refunding Revenue Bonds - 2015 Series D

On May 15, 2015, the BFA issued $7,820,000 of 2015 Local Agency Refunding Revenue Bonds, Series D (the "Authority Bonds") for the purpose of refunding the Beaumont Financing Authority 2004 Local Agency Revenue Bonds Series B.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2015 until maturity or earlier redemption. Interest on the bonds ranges from

2.00% to 4.250%.

The District Bonds do not constitute an obligation of the City and the City is not obligated to make payment beyond the special taxes and available bond reserves.

285
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

70 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Agency Refunding Revenue Bonds - 2019 Series A

On August 8, 2019, the BPIA issued $5,375,000 of 2019 Local Agency Refunding Revenue Bonds, Series A (the "Authority Bonds") for the purpose of refunding the Beaumont Financing Authority Local Agency Revenue Bonds Series 2007 A, C and D.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing September 1, 2021 until maturity or earlier redemption. Interest on the bonds ranges from

3.0% to 5.0%.

The District Bonds do not constitute an obligation of the City and the City is not obligated to make payment beyond the special taxes and available bond reserves.

Local Agency Refunding Revenue Bonds - 2020 Series A
On August 13, 2020, the BPIA issued $17,200,000 of 2020 Local Agency Refunding Revenue Bonds, Series A (the “Authority Bonds”) for the purpose of refunding the Beaumont Financing Authority Local Agency Revenue Bonds Series 2011 Series A & B and 2012 Series A.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing March 1, 2021 until maturity or earlier redemption. Interest on the bonds ranges from 0.773% to 2.245%.

The District Bonds do not constitute an obligation of the City and the City is not obligated to make payment beyond the special taxes and available bond reserves.

286
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

71 Note 6 - Long-Term Obligations (Continued)

A. Governmental Activities (Continued)

Revenue Bonds (Continued)

Local Agency Refunding Revenue Bonds - 2021 Series A
On June 30, 2021, the BPIA issued $18,675,000 of 2021 Local Agency Refunding Revenue Bonds, Series A (the “Authority Bonds”) for the purpose of refunding the Beaumont Financing Authority Local Agency Revenue Bonds Series 2012 Series B & C, 2013 Series A & B.

The Authority Bonds are payable from and secured by repayment of the District Bonds.

Interest is payable semiannually on March 1 and September 1 of each year, commencing March 1, 2022 until maturity or earlier redemption. Interest on the bonds ranges from 0.265% to 2.397%.

The District Bonds do not constitute an obligation of the City and the City is not obligated to make payment beyond the special taxes and available bond reserves.

Annual Debt Service Requirements to Maturity

The annual debt service requirements to maturity schedule are the annual scheduled debt service under the BFA's Authority Bond indentures as follows:

Year Ending
June 30, Principal Interest Total
2022 3,030,000$ 2,463,550$ 5,493,550$
2023 4,510,000 2,460,942 6,970,942
2024 4,670,000 2,329,451 6,999,451
2025 4,035,000 2,201,507 6,236,507
2026 4,120,000 2,086,539 6,206,539
2027-2031 22,160,000 8,540,815 30,700,815
2032-2036 22,345,000 4,599,456 26,944,456
2037-2041 8,520,000 1,978,828 10,498,828
2042-2046 5,355,000 464,077 5,819,077
Totals 78,745,000$ 27,125,165$ 105,870,165$

287
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

72 Note 6 - Long-Term Obligations (Continued)

B. Business-Type Activities

Summary of changes in long-term liabilities for the business-type activities for the year ended June 30, 2021 is as follows:

Classification
Balance Balance Due Within Due in More
July 1, 2020 Additions Deletions June 30, 2021 One Year Than One Year Business-Type Activities:

Wastewater Revenue Bonds 80,105,000$ -$ (1,245,000)$ 78,860,000$ 1,295,000$ 77,565,000$ Bond Premium 8,495,497 - (652,849) 7,842,648 652,849 7,189,799 Capital Leases 183,671 - (84,366) 99,305 99,305 - Total business-type activities 88,784,168$ -$ (1,982,215)$ 86,801,953$ 2,047,154$ 84,754,799$

Capital Lease

The City has entered into several lease agreements for the financing of sewer vehicles and equipment. The lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of future minimum lease payments as of the date of inception.

The annual debt service requirements for the capital leases payable outstanding at June 30, 2021 are as follows:

Year Ending
June 30, Principal Interest Total
2022 99,305$ 4,332$ 103,637$
Total 99,305$ 4,332$ 103,637$

The City entered into capital lease-purchase agreements whereby the lessor acquired certain capital assets and leased them to the City with the option to purchase. The leased assets are included in capital assets and are summarized by major asset class below:

Amount
Vehicles 455,505$
Less: accumulated depreciation (321,994)
Total 133,511$

288
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

73 Note 6 - Long-Term Obligations (Continued)
B. Business-Type Activities (Continued)

Revenue Bonds

Wastewater Revenue Bonds, Series 2018A

On September 27, 2018, the Beaumont Public Improvement Authority issued $81,105,000 of revenue bonds, to finance the acquisition and construction of certain improvements to the City's Wastewater System and to purchase a debt service reserve surety policy. The bonds were issued at a premium of $9,698,952 which is amortized over the life of the bonds. Interest on the bonds is payable semi-annually on March 1 and September 1 of each year through September 1, 2049. The bonds bear interest ranging from 3% to 5%. Principal payments are due annually beginning on September 1, 2019. The bonds are a special limited obligation of the Authority payable solely from Authority Revenues. The outstanding balance of the Wastewater Revenue Bonds Series 2018A at June 30, 2021 was $78,860,000.

Year Ending
June 30, Principal Interest Total
2022 1,295,000$ 3,777,988$ 5,072,988$
2023 1,355,000 3,718,213 5,073,213
2024 1,425,000 3,648,713 5,073,713
2025 1,495,000 3,575,713 5,070,713
2026 1,570,000 3,499,088 5,069,088
2027-2031 9,160,000 16,199,688 25,359,688
2032-2036 11,475,000 13,876,681 25,351,681
2037-2041 14,325,000 11,029,250 25,354,250
2042-2046 18,370,000 6,985,750 25,355,750
2047-2050 18,390,000 1,896,500 20,286,500
Totals 78,860,000$ 68,207,581$ 147,067,581$

Note 7 - Debt Without City Commitment

The City authorized the formation of the City of Beaumont Community Facilities District No. 93-1 (the "CFD's") for purpose of the issuance of bonds under improvement acts of the State of California to finance eligible public facilities to serve developing commercial, industrial, residential, and/or mixed use developments. Bonds issued by the CFD are secured by annual special tax levies or liens placed on properties within the CFD. The City, and the BFA, are not liable for repayment and the City, acting as an agent on behalf of the CFD, is only responsible for levying and collecting the special tax assessments, forwarding the collections to the bond trustee on behalf of bondholders, and initiating foreclosure proceedings on faulted special tax payments when necessary.

289
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

74 Note 7 - Debt Without City Commitment (Continued)

The bonds issued by the CFD are limited obligations and are payable solely from special tax assessments, specific bond reserves, and the proceeds from property foreclosures. Since these debts do not constitute an obligation of the City or the BFA/BPIA and the City or BFA/BPIA is not obligated to make payments on the bonds, the District Bonds (whose terms are disclosed in Note 6) are not reported as long-term liabilities in the accompanying City financial statements. The activities related to the District Bond reserves, special assessment tax collection, remittance to the bond trustee, repayment of District Bonds and use of new bond proceeds for developer capital projects for infrastructure, are reported in the Fiduciary Funds as an agency fund.

As of June 30, 2021, debt without City or BFA/BPIA commitment is as follows:

Balance
June 30, 2021
1994 Special Tax Bonds, Series A 1,970,000$
2015 Special Tax Bonds, Series A 9,770,000
2015 Special Tax Bonds, Series B 16,020,000
2015 Special Tax Bonds, Series C 4,040,000
2015 Special Tax Bonds, Series D 5,985,000
2019 Refunding Revenue Bonds, Series A 5,085,000
2020 Refunding Revenue Bond, Series A 17,200,000
2021 Refunding Revenue Bond, Series A 18,675,000
Subtotal 78,745,000
2017 Special Tax Refunding Bonds, Series A 82,601,097
2018 Special Tax Bonds, Series A 33,160,000
2018 Special Tax Bonds, 1A 7B 2,150,000
2018 Special Tax Bonds, 1A 7D 3,560,000
2018 Special Tax Bonds, 1A 8E 12,455,000
2019 Special Tax Bonds, 1A 2016-1 8,630,000
Total Limited Obligation Bond Debt 221,301,097$

290
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

75 Note 8 - Compensated Absences

The City's liability for vested and unpaid compensated absences (vacation and vested sick leave) was $3,147,991 at June 30, 2021.

A. Governmental Activities

For the governmental activities, compensated absences are generally liquidated by the General Fund.

Summary of changes in compensated absences for the year ended June 30, 2021 is as follows:

Classification
Balance Balance Due Within Due in More
July 1, 2020 Additions Deletions June 30, 2021 One Year Than One Year Governmental Activities:

Compensated absences 2,627,915$ 665,087$ (519,771)$ 2,773,231$ 554,646$ 2,218,585$ Total governmental activities 2,627,915$ 665,087$ (519,771)$ 2,773,231$ 554,646$ 2,218,585$

B. Business-Type Activities

Summary of changes in compensated absences for the year ended June 30, 2021 is as follows:

Classification
Balance Balance Due Within Due in More
July 1, 2020 Additions Deletions June 30, 2021 One Year Than One Year Business-Type Activities:

Compensated absences 297,326$ 112,374$ (34,940)$ 374,760$ 74,952$ 299,808$ Total governmental activities 297,326$ 112,374$ (34,940)$ 374,760$ 74,952$ 299,808$

Note 9 - Risk Management

The City is exposed to various risks of loss related to torts: theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The City, including its component units, uses the General Fund to account for and finance risks for general liability, workers' compensation, and property damage. There were no settlements in excess of insurance coverage in any of the three prior fiscal years. There were no reductions in the City's limits of coverage during the fiscal year ended June 30, 2021.

General Liability and Property Damage Insurance

The City is self-insured to some extent for general liability claims. The City maintains a self-insured retention level of $250,000 for general liability with excess coverage up to $50,000,000, as a participant in the Exclusive Risk Management Authority of California (ERMAC), a Joint Powers Authority. Property damage is also insured through participation in ERMAC.

291
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

76 Note 9 - Risk Management (Continued)

General Liability and Property Damage Insurance (Continued)

The City has entered into contracts with claims administrators to process claims against the City for general liability claims.

Workers' Compensation

The City of Beaumont maintains a self-insured workers' compensation plan, whereby the City covers the cost of medical claims its employees incur. The City has stop loss coverage for this plan to cover claims in excess of $300,000 per participant per year. The City utilizes a third-party administrator to manage claims in accordance with state law.

Government Crime Policy

The City carries government crime insurance, including faithful performance/employee dishonesty, forgery or alteration, computer fraud, etc., in the amount of $15 million, with a $2,500 deductible.

Changes in the claims liability amounts were as follows:

Current Year
Beginning of Claims and Balance at
Fiscal Year Changes in Claim Fiscal Year
Liability Estimates Payments End
2018-2019 2,214,818$ 2,870,524$ (2,277,967)$ 2,807,375$ 2019-2020 2,807,375 1,016,150 (1,617,130) 2,206,395 2020-2021 2,206,395 1,675,361 (1,075,636) 2,806,120

292
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

77 Note 10 - Pension Plans

A. Summary

Governmental Business-Type
Activities Activities Total
Deferred outflows of resources:

Pension contribution made after measurement date:

CalPERS Miscellaneous 1,211,609$ 383,576$ 1,595,185$ CalPERS Safety 1,751,746 - 1,751,746 Total pension contribution made after measurement date 2,963,355 383,576 3,346,931 Projected earnings on pension plan investment in excess of actual earnings:

CalPERS Miscellaneous 175,704 68,329 244,033 CalPERS Safety 254,843 - 254,843 Total projected earnings on pension plan investment in excess of actual earnings 430,547 68,329 498,876 Adjustment due to difference in proportions:

CalPERS Miscellaneous 303,054 117,855 420,909 CalPERS Safety 214,521 - 214,521 Total adjustment due to difference in proportions 517,575 117,855 635,430 Difference between expected and actual experience:

CalPERS Miscellaneous 304,799 118,533 423,332 CalPERS Safety 909,246 - 909,246 Total difference between expected and actual experience 1,214,045 118,533 1,332,578 Employer contributions in excess of proportionate share of contribution:

CalPERS Miscellaneous 80,536 31,320 111,856 CalPERS Safety 72,981 - 72,981 Total employer contributions in excess of proportionate share of contribution 153,517 31,320 184,837 Total deferred outflows of resources:

CalPERS Miscellaneous 2,075,703 719,612 2,795,315 CalPERS Safety 3,203,337 - 3,203,337 Total deferred outflows of resources 5,279,040$ 719,612$ 5,998,652$ Net pension liabilities:

CalPERS Miscellaneous 5,914,639$ 2,300,138$ 8,214,777$ CalPERS Safety 11,725,412 - 11,725,412 Total net pension liabilities 17,640,051$ 2,300,138$ 19,940,189$

293
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

78 Note 10 - Pension Plans (Continued)

A. Summary (Continued)

Governmental Business-Type
Activities Activities Total
Deferred inflows of resources:

Change in assumption:

CalPERS Miscellaneous 44,529$ 14,062$ 58,591$ CalPERS Safety 39,058 - 39,058 Total change in assumption 83,587 14,062 97,649 Projected earnings on pension plan investment in excess of actual earnings:

CalPERS Miscellaneous (35,556) 35,556 - Total projected earnings on pension plan investment in excess of actual earnings (35,556) 35,556 - Total deferred inflows of resources:

CalPERS Miscellaneous 31,250 27,341 58,591 CalPERS Safety 39,058 - 39,058 Total deferred outflows of resources 70,308$ 27,341$ 97,649$ Pension expenses:

CalPERS Miscellaneous 1,626,306$ 513,570$ 2,139,876$ CalPERS Safety 2,563,438 - 2,563,438 Total net pension liabilities 4,189,744$ 513,570$ 4,703,314$

B. General Information about the Pension Plans

Plan Description

All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan or PERF C) administered by the California Public Employees’ Retirement System (CalPERS.) The Plan consists of a miscellaneous pool and a safety pool (also referred to as “risk pools”), which are comprised of individual employer miscellaneous and safety rate plans, respectively. Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under generally accepted accounting principles. Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The City participates in four rate plans (two miscellaneous and two safety). Benefit provisions under the Plan are established by State statute and Local Government resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CalPERS’ website, at www.calpers.ca.gov .

294
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

79 Note 10 - Pension Plans (Continued)

B. General Information about the Pension Plans (Continued)

Benefit Provided

CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and 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 statutorily reduced benefits. All members are eligible for non-duty disability benefits after 5 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.

The Plan operates under the provisions of the California Public Employees’ Retirement Law (PERL), the California Public Employees’ Pension Reform Act of 2013 (PEPRA), and the regulations, procedures and policies adopted by the CalPERS Board of Administration. The Plan’s authority to establish and amend the benefit terms are set by the PERL and PEPRA, and may be amended by the California state legislature and in some cases require approval by the CalPERS Board.

The Plan’s provisions and benefits in effect at June 30, 2021 are summarized as follows:

Miscellaneous Safety
Miscellaneous PEPRA Safety PEPRA
Benefit formula 3.0% @ 60 2.0% @ 62 3.0% @ 50 2.7% @ 57 Benefit vesting schedule 5 years service 5 years service 5 years service 5 years service Benefit payments Monthly for life Monthly for life Monthly for life Monthly for life Retirement age 50-67 52-67 50-55 50-57
Monthly benefits, as a % of
eligible compensation 3.0% 2.0% 3.0% 2.7%
Required employer contribution rate 15.445% 7.732% 23.674% 13.044%

Contributions

Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. The total plan contributions are determined through CalPERS’ annual actuarial valuation process.

For public agency cost-sharing plans covered by either the Miscellaneous or Safety risk pools, the Plan’s actuarially determined rate is based on the estimated amount necessary to pay the Plan’s allocated share of the risk pool’s costs of benefits earned by employees during the year, and any unfunded accrued liability. The employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. Employer contribution rates may change if plan contracts are amended.

295
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

80 Note 10 - Pension Plans (Continued)

B. General Information about the Pension Plans (Continued)

Contributions (Continued)

Payments made by the employer to satisfy contribution requirements that are identified by the pension plan terms as plan member contribution requirements are classified as plan member contributions. Employer Contributions to the Plan for the fiscal year ended June 30, 2021 were $1,595,185 and $1,751,746, for the Miscellaneous and Safety plans, respectively. The actual employer payments of $3,228,952 made to CalPERS by the City during the measurement period ended June 30, 2020 differed from the City’s proportionate share of the employer’s contributions of $3,164,497 by $64,455, which is being amortized over the expected average remaining service lifetime in the Public Agency Cost-Sharing Multiple Employer Plan.

C. Net Pension Liability

The City’s net pension liability for the Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability is measured as of June 30, 2020, using an annual actuarial valuation as of June 30, 2019 rolled forward to June 30, 2020 using standard update procedures. A summary of principal assumptions and methods used to determine the net pension liability is as follows.

Actuarial Methods and Assumptions Used to Determine Total Pension Liability

Valuation Date June 30, 2019
Measurement Date June 30, 2020
Actuarial Cost Method Entry Age Normal
Asset Valuation Method Market Value of Assets
Actuarial Assumptions:

Discount Rate 7.15%
Inflation 2.50%
Salary Increases Varies by Entry Age and Service
Mortality Rate Table (1) Derived using CALPERS' membership data for all Funds Post Retirement Benefit
Increase
(1) The mortalitytable used was developed based on CalPERS'specific data.The probabilities ofmortalityare based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. Pre-retirement and Post-retirement mortality rates include 15 years ofprojected mortalityimprovements 90% ofscale MP 2016 published by the Society ofActuaries. 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 lesser of contract COLA or 2.50% until purchasing power protection allowance floor on purchasing power applies,

2.50% thereafter

All other actuarial assumptions used in the June 30, 2019 valuation were based on the results of an actuarial experience study for the period from 1997 to 2015, including updates to salary increase, mortality and retirement rates. The Experience Study report can be obtained at CalPERS’ website, at www.calpers.ca.gov .
296
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

81 Note 10 - Pension Plans (Continued)

C. Net Pension Liability (Continued)

Long-term Expected Rate of Return

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

In determining the long-term expected rate of return, CalPERS took into account both short- term and long-term market return expectations as well as the expected pension fund cash flows. 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) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present 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 expected real rates of return by asset class are as follows:

New Strategic Real Return Years Real Return Years
Asset Class1 Allocation 1 - 10
2 11 + 3
Global equity 50.00% 4.80% 5.98%
Global fixed income 28.00% 1.00% 2.62%
Inflation sensitive assets 0.00% 0.77% 1.81%
Private equity 8.00% 6.30% 7.23%
Real assets 13.00% 3.75% 4.93%
Liquidity 1.00% 0.00% -0.92%
Total 100%
1 In the System's CAFR, 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. 2 An expected inflation of 2.0% used for this period
3 An expected inflation of 2.92% used for this period
Change of Assumptions

The Plan adopted a new amortization policy effective with the 2019 actuarial valuation. The new amortization policy shortens the period over which actuarial gains and losses are amortized from 30 years to 20 years with the payments computed as a level dollar amount. In addition, the new policy does not utilize a five-year ramp-up and ramp-down on UAL bases attributable to assumption changes and non-investment gains/losses. The new policy also does not utilize a five-year ramp-down on investment gains/losses. These changes apply only to new UAL bases established on or after June 30, 2019. 297
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

82 Note 10 - Pension Plans (Continued)

C. Net Pension Liability (Continued)

Discount Rate

The discount rate used to measure the total pension liability for PERF C was 7.15%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. 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.

Pension Plan Fiduciary Net Position

Information about the pension plan’s assets, deferred outflows of resources, liabilities, deferred inflows of resources, and fiduciary net position are presented in CalPERS’ audited financial statements, which are publicly available reports that can be obtained at CalPERS’ website, at www.calpers.ca.gov . The plan’s fiduciary net position and additions to/deductions from the plan’s fiduciary net position have been determined on the same basis used by the pension plan, which is the economic resources measurement focus and the accrual basis of accounting. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. Investments are reported at fair value.

D. Proportionate Share of Net Pension Liability

The following table shows the Plan’s proportionate share of the net pension liability over the measurement period.

Plan Total Plan Fiduciary Net Pension
Pension Liability Net Position Liability
Miscellaneous
Balance at: 6/30/19 (Valuation date) 34,063,851$ 26,625,712$ 7,438,139$ Balance at: 6/30/20 (Measurement date) 36,927,018 28,712,241 8,214,777 Net changes during 2019-2020 2,863,167$ 2,086,529$ 776,638$ Safety
Balance at: 6/30/19 (Valuation date) 44,277,751$ 33,508,508$ 10,769,243$ Balance at: 6/30/20 (Measurement date) 48,078,037 36,352,625 11,725,412 Net changes during 2019-2020 3,800,286$ 2,844,117$ 956,169$ Increase(Decrease)
Valuation Date (VD), Measurement Date (MD).

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Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

83 Note 10 - Pension Plans (Continued)

D. Proportionate Share of Net Pension Liability (Continued)

The City's net pension liability/(asset) for each Plan is measured as the proportionate share of the net pension liability/(asset). The net pension liability/(asset) of each of the Plans is measured as of June 30, 2020, and the total pension liability/(asset) for each Plan used to calculate the net pension liability/(asset) was determined by an actuarial valuation as of June 30, 2019 rolled forward to June 30, 2020 using standard update procedures. The City's proportion of the net pension liability/(asset) was based on a projection of the City's long-term share of contributions to the pension plans relative to the projected contributions of all participating employers, actuarially determined. The City's proportionate share of the net pension liability/(asset) for each Plan as of June 30, 2019 and 2020 was as follows:

Miscellaneous Safety Total
Proportion - June 30, 2020 0.18574% 0.17251% 0.17768%
Proportion - June 30, 2021 0.19475% 0.17600% 0.18327%
Change - Increase (Decrease) 0.00901% 0.00349% 0.00559% Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate

The following presents the City’s proportionate share of the net pension liability of the Plan as of the measurement date, calculated using the discount rate of 7.15 percent, as well as what the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (6.15 percent) or 1 percentage-point higher (8.15 percent) than the current rate:

Plan's Net Pension Liability/(Asset)
Discount Rate - 1% Current Discount Discount Rate + 1%
(6.15%) Rate (7.15%) (8.15%)
Miscellaneous 13,128,862$ 8,214,777$ 4,154,423$ Safety 18,254,588 11,725,412 6,367,605 Total 31,383,450$ 19,940,189$ 10,522,028$ Subsequent Events

There were no subsequent events that would materially affect the results presented in this disclosure.

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Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

84 Note 10 - Pension Plans (Continued)

D. Proportionate Share of Net Pension Liability (Continued)

Amortization of Deferred Outflows and Deferred Inflows of Resources

Under GASB 68, gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time.

The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions and are to be recognized in future pension expense.

The amortization period differs depending on the source of the gain or loss:

Net difference between
projected and actual earnings
on pension plan investments

5 year straight-line amortization
All other amounts Straight-line amortization over the expected average remaining service lives (EARSL) of all members that
are provided with benefits (active, inactive and
retired) as of the beginning of the measurement
period

The expected average remaining service lifetime (EARSL) is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired) in the Public Agency Cost-Sharing Multiple-Employer Plan (PERF C).

The EARSL for PERF C for the measurement period ending June 30, 2020 is 3.8 years, which was obtained by dividing the total service years of 548,581 (the sum of remaining service lifetimes of the active employees) by 145,663 (the total number of participants: active, inactive, and retired) in PERF C. Inactive employees and retirees have remaining service lifetimes equal to 0. Total future service is based on the members’ probability of decrementing due to an event other than receiving a cash refund.

E. Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pensions

As of the start of the measurement period (July 1, 2019), the City’s net pension liability was $7,438,139 and $10,769,243, for the Miscellaneous and Safety plans, respectively. For the measurement period ending June 30, 2020 (the measurement date), the City incurred a pension expense of $2,139,876 and $2,563,438, for the Miscellaneous and Safety Plans, respectively.

300
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

85 Note 10 - Pension Plans (Continued)

E. Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pensions (Continued)

As of June 30, 2021, the City has deferred outflows and deferred inflows of resources related to pensions as follows:

Miscellaneous Plans
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions made subsequent to measurement date 1,595,185$ -$ Difference between projected and actual earning on
pension plan investments 244,033 -
Adjustment due to differences in proportions 420,909 - Changes in assumptions - 58,591 Difference between actual and expected experience 423,332 - Difference between employer's actual contributions
and proportionate share of contributions 111,856 - Totals 2,795,315$ 58,591$
Safety Plans
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions made subsequent to measurement date 1,751,746$ -$ Difference between projected and actual earning on
pension plan investments 254,843 -
Adjustment due to differences in proportions 214,521 - Changes in assumptions - 39,058 Difference between actual and expected experience 909,246 - Difference between employer's actual contributions
and proportionate share of contributions 72,981 - Totals 3,203,337$ 39,058$
The amounts above are net of outflows and inflows recognized in the 2019-20 measurement period expense. Contributions subsequent to the measurement date of $1,595,185 and $1,751,746, for the Miscellaneous and Safety Plans, respectively reported with deferred outflows of resources will be recognized as a reduction of the net pension liability in the upcoming fiscal year.

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Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

86 Note 10 - Pension Plans (Continued)

E. Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pensions (Continued)

Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in future pension expense as follows:

Year Ended Miscellaneous Safety
June 30, Plans Plans Total
2022 352,182$ 448,660$ 800,842$
2023 403,294 510,082 913,376
2024 269,017 326,101 595,118
2025 117,046 127,690 244,736
2026 - - - Thereafter - - - Totals 1,141,539$ 1,412,533$ 2,554,072$

F. Payable to the Pension Plan

The City had no outstanding amounts owed to the pension plan for contributions for the year ended June 30, 2021.

Note 11 - Other Required Disclosures

A. Deficit Fund Balances

At June 30, 2021, the following governmental funds had deficit fund balances:

Fund Fund Type Deficit
Other Federal Grants Fund Non-major governmental (84,997)$ The Other Federal Grants Fund has a deficit balance of $84,997 as a result from a premium pay of ARPA Grant to other funds.

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Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

87 Note 11 - Other Required Disclosures (Continued)

B. Expenditures Exceeding Appropriations

For the year ended June 30, 2021, expenditures exceeded appropriations in the following functions of the General Fund:

Excess
Fund Function Expenditures
General Fund General government (85,834)$

The budget was established in a manner different than the reporting, and though certain line items were over the departments were within total budget appropriation. Future budgets will consider all reporting elements for proper alignment.

Note 12 - Equity Classification

A. Fund Balances

Major Funds
Community Community Beaumont
Facilities Development Facilities Financing
District (CFD) Impact Fees (DIF) District (CFD) General Authority Other General Special Revenue Special Revenue Capital Projects Capital Projects Debt Service Governmental Fund Fund Fund Fund Fund Fund Funds Total
Nonspendable:

Loans receivable 225,715$ -$ -$ -$ -$ -$ -$ 225,715$ Prepaid expenditures 26,262 - - - - 304,015 - 330,277 Total nonspendable 251,977 - - - - 304,015 - 555,992 Restricted
State Gas Tax - - - - - - 159,101 159,101 RMRA - - - - - - 1,437,670 1,437,670 Measure A - - - - - - 2,568,801 2,568,801 AB 2766 - - - - - - 621,930 621,930 PEG Fees - - - - - - 23,675 23,675 COPS Grant - - - - - - 313,341 313,341 State Asset Forfeiture - - - - - - 295,014 295,014 Federal Asset Forfeiture - - - - - - 6,030 6,030 Other Special Projects - - - - - - 183,807 183,807 Capital Projects - - 3,345,152 13,674,329 - - - 17,019,481 Debt Service - - - - - 85,876,699 - 85,876,699 Community Facilities Districts - 2,539,778 - - - - - 2,539,778 Total restricted - 2,539,778 3,345,152 13,674,329 - 85,876,699 5,609,369 111,045,327 Committed:

Capital Projects - - - - 10,631,472 - - 10,631,472 Self Insurance 2,850,717 - 2,850,717 Pension Trust Funding 2,500,000 - 2,500,000 Total Committed 5,350,717 - - - 10,631,472 - - 15,982,189 Assigned:

Re-appropriation 214,799 - - - - - - 214,799 Total Assigned 214,799 - - - - - - 214,799 Unassigned 17,576,741 - - - - - (84,997) 17,491,744 Total Fund Balances 23,394,234$ 2,539,778$ 3,345,152$ 13,674,329$ 10,631,472$ 86,180,714$ 5,524,372$ 145,290,051$

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Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

88 Note 12 - Equity Classification (Continued)

B. Net Position

Governmental Activities

Net Investment in Capital Assets

Net position for governmental activities and business-type activities is classified as 1) net investment in capital assets, 2) restricted, or 3) unrestricted. Net position that was classified as net investment in capital assets as of June 30, 2021, was determined as follows:

Governmental
Activities
Capital assets, net of accumulated depreciation 279,364,030$ Less capital related debt balance:

Outstanding principal balance of capital lease (152,680) Outstanding principal balance of Beaumont Public Financing Authority debt (79,681,849) Net investment in capital assets 199,529,501$

Business-type Activities

Total
Sewer Transit Enterprise
Fund Fund Funds
Capital assets, net of accumulated depreciation 214,522,620$ 2,498,892$ 217,021,512$ Plus (less) capital related debt balance:

Capital related borrowings (74,302,310) - (74,302,310) Outstanding unamortized bond premium balance (7,842,648) - (7,842,648) Outstanding balance of capital lease (99,305) - (99,305) Net investment in capital assets 132,278,357$ 2,498,892$ 134,777,249$ Business-type Activities

Note 13 - Commitments and Contingencies

A. Litigation

The City is a defendant in a number of lawsuits and a recipient of a number of claims that have arisen in the normal course of business. While substantial damages are alleged in some of these actions, their outcome cannot be predicted with certainty.

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Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

89 Note 13 - Commitments and Contingencies (Continued)

B. Grants

Amounts received or receivable from granting agencies are subject to audit and adjustment by grantor agencies. While no matters of non-compliance were disclosed by the audit of the financial statements or single audit of the Federal grant programs, grantor agencies may subject grant programs to additional compliance tests, which may result in disallowed costs.

In the opinion of management, future disallowances of current or prior grant expenditures, if any, would not have a material adverse effect on the financial position of the City.

C. Construction Commitments

Various construction projects in all fund types were in progress at June 30, 2021 with a planned cost to complete of approximately $51,148,409.

D. WRCOG Restated Settlement Agreement

In May 2017, the City and Western Riverside Council of Governments ("WRCOG") entered into an Amended and Restated Settlement Agreement and Release (the "WRCOG Settlement"), which resolved the approximately $62 million judgment WRCOG had obtained against the City. Under the terms of the WRCOG Settlement, the City and WRCOG agreed that the City would rejoin WRCOG and adopt the WRCOG TUMF ordinance. Since the settlement, the City rejoined WRCOG and the TUMF program and as a result, and pursuant to the WRCOG Settlement, the City is now eligible to receive Measure A revenues from the Riverside County Transportation Commission (RCTC) based on the following schedule:

Period WRCOG* City
Approval Date thru 5th Anniversary of Approval 0% 100%
Second five year period 25% 75%
Third five year period 40% 60%
Fourth five year period 60% 40%
End of fourth five year period through June 2039 75% 25% *WRCOG's share of Measure A revenues shall not exceed a total of $9,400,000

In October 2017, the City segregated $3,000,000, designated for funding Pennsylvania Avenue improvements in accordance with the agreement. The City agreed to complete needed transportation improvements as follows:

Improvement Estimated Cost Completion Deadline
Oak Valley Parkway, Segments 3, 4, and 15 1,200,000$ By January 1, 2022 Pennsylvania Avenue 3,800,000 None

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Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

90 Note 13 - Commitments and Contingencies (Continued)

D. WRCOG Restated Settlement Agreement (Continued)

The City also agreed to assign Third Party Claims to WRCOG to diligently pursue civil lawsuits and through requests/applications for restitution in the criminal actions pending against Third Parties. Recovery related to Third Party Claims would be shared on the following schedule:

Recovery Amount WRCOG City**
First $9,000,000 100% 0%
$9,000,001 - $12,000,000 85% 15%
$12,000,001 - $18,000,000 65% 35%
$18,000,001 and above 50% 50%
**City guarantees $7,000,000 recovery to WRCOG and will pay 50% of the legal fees not to exceed $1,000,000
The settlement agreement stipulates that if Third Party Claims have not produced recoveries of at least $8,000,000 by July 2, 2022, the City will begin making payments to WRCOG in 20 equal annual installments beginning August 1, 2022. Any subsequent recoveries would adjust the annual installments as necessary. As of June 30, 2021, recoveries are approximately $14 million. The City continues to share in recoveries at the 35% rate until recoveries total $18 million at which time the City will begin collecting 50% of any recoveries. The City now shares in recoveries based on the settlement agreement; therefore, a liability has not been accrued.

Additionally, in October 2017, two of the seven criminal cases were resolved with guilty pleas with a restitution payment due to the City of $3,000,000. In December 2017, four more of the seven criminal cases were resolved with guilty pleas and restitution payments due of another $8,000,000. The last case was settled in September 2018 with a guilty plea.

WRCOG has released and discharged the City from the WRCOG judgment and Attorneys' Fee Award and interest, which collectively exceeded $62 million. WRCOG and the City also agreed that the litigation, judgment and pending appeals would be dismissed thereby ending the litigation between WRCOG and the City.

E. Covid-19 Considerations

On March 11, 2020, the World Health Organization declared the novel strain of coronavirus (COVID-19) a global pandemic and recommended containment and mitigation measures worldwide. The COVID-19 outbreak in the United States caused business disruption through mandated and voluntary closings of businesses and shelter in place orders. The City’s major revenue sources could still be directly impacted by these events; it is possible that this matter could negatively impact the City. However, the ultimate financial impact and duration cannot be estimated at this time, and no adjustments have been made to these financial statements as a result of this contingency.

306
Item 8.

CITY OF BEAUMONT

Notes to the Basic Financial Statements
For the Year Ended June 30, 2021

91 Note 14 – Subsequent Event

A. American Rescue Plan

On March 11, 2021, HR 1319, the American Rescue Plan Act of 2021 (ARPA), was signed into law. ARPA was designed to provide assistance to individuals, businesses and, state and local governments to assist in the economic recovery from the ongoing COVID-19 pandemic.

The City was granted an allocation of $7,306,318, delivered in two tranches of $3,653,159 in June 2021 and June 2022. The qualified use of these funds includes public safety, infrastructure, and restoration of services to pre-pandemic levels.

Note 15 – Prior Period Adjustment

A. GASB Implementation

As a result of GASB 84 implementation, as discussed in Note 1, beginning fiduciary net position has been restated as follows:

Custodial Funds
Net position, as previously reported -$
Prior period restatement (220,884,299)
Net position, as restated (220,884,299)$
Transit Fund
Net position, as previously reported 2,508,359$
Prior period restatement (342,109)
Net position, as restated 2,166,250$
Business-Type
Activities
Net position, as previously reported 142,353,646$
Prior period restatement (342,109)
Net position, as restated 142,011,537$

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Required Supplementary Information (Unaudited)
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Item 8.

CITY OF BEAUMONT

Budgetary Information
For the Year Ended June 30, 2021

92 Note 1 – Budgetary Information

The City Council approves each year’s budget submitted by the City Manager prior to the beginning of the new fiscal year. Public hearings are conducted prior to its adoption by the Council. All supplementary appropriations, where required during the period, are also approved by the Council. Intradepartmental budget transfers are approved by the City Manager. In most cases, expenditures may not exceed appropriations at the departmental level within the General Fund and at the fund level for other major special revenue funds. At fiscal year-end, all operating budget appropriations lapse.

Budgets for governmental funds are adopted on a basis consistent with generally accepted accounting principles (GAAP).

Budgets were adopted for the General Fund, special revenue funds, and capital projects funds with the exception of the Federal Asset Seizure Special Revenue Fund.

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Item 8.

CITY OF BEAUMONT

Budgetary Comparison Schedule
General Fund
For the Year Ended June 30, 2021

93 Actual Variance with
Original Final Amounts Final Budget
REVENUES:

Taxes 11,345,095$ 14,045,095$ 16,092,556$ 2,047,461$ Franchise fees 2,969,846 3,019,846 3,183,803 163,957 Intergovernmental 5,293,245 5,693,245 5,753,856 60,611 License and permits 2,801,700 2,936,700 3,050,575 113,875 Fines and forfeitures 376,500 376,500 344,816 (31,684) Assessments levied 617,695 617,695 637,172 19,477 Use of money and property 295,000 295,000 178,689 (116,311) Charges for services 1,163,700 1,163,700 1,484,669 320,969 Other revenues 227,000 227,000 916,229 689,229 Total revenues 25,089,781 28,374,781 31,642,365 3,267,584 EXPENDITURES:

Current:

General government 7,477,095 8,374,458 8,460,292 (85,834) Public safety 16,577,057 17,787,632 17,313,483 474,149 Public works 2,684,417 2,919,195 2,786,349 132,846 Community development 1,615,936 1,903,244 1,561,640 341,604 Community services 3,890,960 4,357,823 4,093,696 264,127 Capital outlay 371,816 871,807 813,748 58,059 Debt service:

Beaumont City CouncilJanuary 18, 2022

Beaumont City Council
January 18, 2022