Buellton City Council
April 9, 2026

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
4 OVERVIEW OF THE ANNUAL COMPREHENSIVE FINANCIAL REPORT This Annual Comprehensive Financial Report has three major parts:
1) Introductory section, which includes general information; 2) Financial section, which includes the Management’s Discussion and Analysis (current section), the Basic Financial Statements, which include the Government-wide and the Fund Financial Statements along with the notes to these financial statements, and Combining and Individual Fund Financial Statements and Schedules.
3) Statistical section, which includes detailed information as a context for understanding what the information in the financial statements and footnotes says about the City's overall financial health.

The Basic Financial Statements
The Basic Financial Statements are comprised of the Government-wide Financial Statements and the Fund Financial Statements. These two sets of financial statements provide two different views of the City’s financial activities and financial position.

The Government-wide Financial Statements
The Government-wide Financial Statements provide a broad overview of the City’s activities as a whole and comprise the Statement of Net Position and the Statement of Activities. The Statement of Net Position provides information about the financial position of the City as a whole, including all its capital assets and long-term liabilities on the full accrual basis, similar to that used by corporations. The Statement of Activities provides information about all the City’s revenues and all its expenses, also on the full accrual basis, with emphasis on measuring net revenues or expenses of each of the City’s programs. The Statement of Activities explains in detail the change in Net Position for the year.

All the amounts in the Statement of Net Position and the Statement of Activities are separated into Governmental Activities and Business-type Activities in order to provide a summary of these two activities of the City as a whole, as explained below.
♦ Governmental activities – All of the City’s basic services are considered to be governmental activities, including general government, community development, culture and leisure, public safety, and public works. These services are supported by general City revenues such as taxes, state grants and by specific program revenues such as developer fees. ♦ Business-type activities – All of the City’s enterprise activities are reported here, including Water and Wastewater. Unlike governmental services, these services are supported by charges paid by users based on the amount of the service they use.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
5 Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be sorted into three categories: governmental funds, proprietary funds and fiduciary funds.

Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the Government-wide Financial Statements. However, unlike the Government-wide Financial Statements, Governmental Fund Financial Statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements.

Because the focus of the Governmental Fund Financial Statements is narrower than that of the Governmentwide Financial Statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the Government-wide Financial Statement. By doing so, readers may better understand the long-term impact of the government’s near-term financial decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The Governmental Fund Financial Statements provide detailed information about each of the City’s most significant funds, called major funds. The concept of major funds, and the determination of which are major funds, was established by GASB Statement No. 34 and replaces the concept of combining like funds and presenting them as one total. Instead, each major fund is presented individually, with all non-major funds summarized and presented only in a single column. Subordinate schedules present the detail of these nonmajor funds. Major funds present the major activities of the City for the year and may change from year to year as a result of changes in the pattern of the City’s activities.

For the fiscal year ended June 30, 2025, the City’s major funds are as follows:

GOVERNMENTAL FUNDS:
 General Fund
 Housing Fund
 Capital Improvement Fund
PROPRIETARY FUNDS:
 Water Enterprise Fund
 Wastewater Enterprise Fund
Proprietary funds. The City maintains Enterprise-type proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the Government-wide Financial Statements. The City uses enterprise funds to account for Water and Wastewater operations. Proprietary funds provide the same type of information as the Government-wide Financial Statements, only in more detail.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
6 Notes to the Basic Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the Government-wide and Fund Financial Statements. The notes to the basic financial statements can be found on pages 37- 62 of this report.

Combining and Individual Fund Financial Statements and Schedules The combining statements referred to earlier in connection with non-major governmental funds are presented immediately following the notes to the financial statements. Combining and individual fund statements can be found on pages 74-81 of this report.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, Net Position may serve over time as a useful indicator of a government’s financial position. In the case of the City, assets and deferred outflow of resources exceeded liabilities and deferred inflows of resources by $57,984,350 for the period ending June 30, 2025, a 5.1% increase from the prior fiscal year.

The largest portion (63.7%) of the City’s net position reflects its investment of $37.0 million in capital assets (land, building and improvements, equipment and infrastructure, net of accumulated depreciation). The City uses these capital assets to provide services to its citizens; consequently, these assets are not available for future spending.

About $2.7 million (4.7%) of the City’s net position represents resources that are subject to external restrictions on how they may be expended. These restrictions include Housing and Streets, Roads and Transportation, and Capital Expansion.

About $18.3 million of the net position (31.6%) is unrestricted and may be used to meet the government’s ongoing obligations to citizens and creditors. Of this amount, $6.1 million is held by the business-type activities and $12.2 million held by the governmental activities.

The statement of activities shows how the City’s net position changed during fiscal year 2024-25 compared to the prior fiscal year. The City’s net position increased overall by about $2.8 million during the fiscal year, which shows the City’s financial health is better than the previous year.

The tables on the following pages present a summary of net changes of the City’s net position as of June 30, 2025, and June 30, 2024.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
7 The Summary of Net Position as of June 30, 2025, and 2024, follows:

Govern- Business- Govern- Businessmental type mental type Activities Activities Total Activities Activities Total Current and other assets $ 20,126,842 $ 7,572,867 $ 27,699,709 $ 20,581,149 $ 7,343,677 $ 27,924,826 Noncurrent assets 113,135 - 113,135 275,672 - 275,672
Capital assets,net 30,480,827 10,545,442 41,026,269 27,711,203 10,148,724 37,859,927 Total assets 50,720,804 18,118,309 68,839,113 48,568,024 17,492,401 66,060,425 Deferred outflows of resources 1,157,069 471,061 1,628,130 1,694,494 689,762 2,384,256 Total assets and deferred
outflows of resources 51,877,873 18,589,370 70,467,243 50,262,518 18,182,163 68,444,681 Current and other liabilities 2,401,759 248,733 2,650,492 2,607,757 147,916 2,755,673 Noncurrent liabilities 3,821,505 4,490,753 8,312,258 3,963,784 4,481,004 8,444,788 Total liabilities 6,223,264 4,739,486 10,962,750 6,571,541 4,628,920 11,200,461 Deferred inflows of resources 1,139,583 380,560 1,520,143 1,574,942 503,159 2,078,101 Total liabilities and deferred inflow of resources 7,362,847 5,120,046 12,482,893 8,146,483 5,132,079 13,278,562 Net Position:

Net investment in capital assets 29,621,665 7,342,706 36,964,371 26,893,843 7,020,538 33,914,381 Restricted 2,685,586 - 2,685,586 2,568,571 - 2,568,571
Unrestricted 12,207,775 6,126,618 18,334,393 12,653,621 6,029,546 18,683,167 Total net position $ 44,515,026 $ 13,469,324 $ 57,984,350 $ 39,777,696 $ 12,191,152 $ 55,166,119 2025 2024
Summary of Net Position

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
8 Provided below is a summary of changes in Net Position for the fiscal years ended June 30, 2025, and 2024.

Govern- Business- Govern- Businessmental type mental type Activities Activities Total Activities Activities Total Revenues:

Program revenues:

Charges for services $ 313,705 $ 4,019,856 $ 4,333,561 $ 349,257 $ 3,864,200 $ 4,213,457 Grants and contributions:

Operating 2,130,293 - 2,130,293 3,008,818 - 3,008,818
Capital - 491,593 491,593 - 82,321 82,321
General revenues: - Secured and unsecured - property taxes 2,048,514 - 2,048,514 1,954,402 - 1,954,402 Sales and use tax 3,555,567 - 3,555,567 3,588,858 - 3,588,858 Transient lodging tax 4,214,770 - 4,214,770 3,908,296 - 3,908,296 Franchise taxes 412,016 - 412,016 398,730 - 398,730
Other taxes 35,378 - 35,378 32,060 - 32,060
Fines and forfeitures 30,487 - 30,487 13,041 - 13,041
Investment income 671,444 191,247 862,691 669,322 193,571 862,893 Other general revenues 24,851 - 24,851 37,570 - 37,570
Total revenues 13,437,025 4,702,696 18,139,721 13,960,354 4,140,092 18,100,446 Expenses:

Governmental activities:

General government 2,827,264 - 2,827,264 2,730,898 - 2,730,898 Community development 1,044,212 - 1,044,212 1,568,514 - 1,568,514 Culture and leisure 981,828 - 981,828 994,177 - 994,177 Public safety 3,259,406 - 3,259,406 3,005,815 - 3,005,815 Public works 2,633,098 - 2,633,098 2,550,373 - 2,550,373 Interest on long-term debt 24,190 - 24,190 20,597 - 20,597 Business-type activities:

Water - 2,525,846 2,525,846 - 2,153,551 2,153,551
Sewer - 2,025,646 2,025,646 - 1,879,249 1,879,249
Total expenses 10,769,998 4,551,492 15,321,490 10,870,374 4,032,800 14,903,174 2,667,027 151,204 2,818,231 3,089,980 107,292 3,197,272 Transfers (268,036) 268,036 - (751,640) 751,640 - Change in net position 2,398,991 419,240 2,818,231 2,338,340 858,932 3,197,272 Net position:

Beginning of year 42,116,035 13,050,084 55,166,119 39,777,695 12,191,152 51,968,847 End of year $ 44,515,026 $ 13,469,324 $ 57,984,350 $ 42,116,035 $ 13,050,084 $ 55,166,119 2025 2024
Changes in Net Position
Excess of revenue over expenses
before transfers

Revenues
The City’s total revenue for governmental and business-type activities was $18,139,721 for the fiscal year ended June 30, 2025. Total revenue from government-type activities were $13,437,025. Approximately 88.9%, or $11,949,144 of the City’s key governmental revenue is generated from four major sources: Sales, property, transient occupancy taxes, and grants and contributions. Revenues are reported in two categories: Program Revenues and General Revenues.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
9 Program revenues are derived from the City’s functional programs and consist primarily of charges for services, including recreation and park reservation fees, along with revenues from grants and capital contributions. Total program revenue for governmental and business-type activities decreased by $349,149 (4.8%) from the prior fiscal year, resulting in total program revenue of $6,955,447.

1. Charges for Services – Governmental and Business-Type Activities Operating – Governmental charges for services experienced a slight decline during the fiscal year, primarily due to the deferral of the AT&T tower lease in April 2024 and reduced recreation center revenues. The recreation center generated fewer program sales as summer camp participation was limited by smaller operating capacity, which resulted in lower overall revenue. Business-type activities, which are generated from water and wastewater operations, reported an increase in operating revenues of $155,656 (4.0%) during the fiscal year. The increase is primarily attributable to higher service usage resulting from dry weather conditions, as water and wastewater rates have remained unchanged since 2018. Charges include both fixed and variable charges based on customer consumption Grants and Contributions – Governmental and Business-Type Activities Operating – Grants continue to be a consistent source of revenue for public works uses under Business and Governmental-type activities. Operating grant revenue for governmental activities decreased by $878,525 (29.2%), primarily due to the timing and completion of American Rescue Plan Act (ARPA) funded projects. Total ARPA funding amounted to approximately $1.2 million, with the majority expended in the prior fiscal year and the remaining funds used to complete eligible infrastructure projects by December 31, 2024. Grant revenues for business-type activities reflected an increase in capital grants and contributions during the fiscal year. Capital grants and contributions increased by $409,272 (497.2%), largely attributable to water and Wastewater connection fees associated with future development activity.

General Revenues are derived of revenues that do not meet the requirement of program revenues, most of which is revenue from taxes. The following discusses variances in key revenues from the prior fiscal year:

1. Sales and Use Taxes – Sales tax revenue totaled $3,555,567 for a decrease of $59,433 (1.6%) from the previous fiscal year. Sales tax revenue was mostly lower reflecting declines in fuel, construction, business-industry, and restaurant/hotel sectors, while growth in autos, transportation, and countywide use-tax pools partially offset the overall decrease. Broader economic factors, including tariffs, interest rates, and regional GDP trends, also influenced local sales, although anticipated price increases and inflation had little effect.

2. Secured and Unsecured Property Taxes – Property tax revenues recorded in the governmental fund totaled $2,048,514 for an increase of $161,609 (8.6%). The City’s ongoing share of property tax is expected to grow at a steady rate as the assessed property values continue to increase and with future development.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
10 3. Transient Occupancy Tax (TOT) – Governmental Activities Operating –This revenue source is a key contributor to the City’s General Fund. Voters approved Measure D during the November 2024 election, which increased the TOT rate from 12% to 14%. The City Council authorized the rate change to become effective February 1, 2025. For the fiscal year ended June 30, 2025, TOT revenue totaled $4,214,770, representing a decrease of $6,189 (1.6%) from the prior fiscal year. While overall revenue declined slightly, average hotel occupancy increased in FY 2024–25 compared to FY 2023–24. The modest revenue decrease is primarily attributable to lower average room rates, with the effect partially offset by both the increased occupancy and the voter-approved rate increase.

Despite the modest decline, TOT revenue in recent years has remained above the pre-pandemic level of approximately $3.1 million reported in fiscal year 2018–19. Revenue reached a historic high of approximately $4.3 million in fiscal year 2021–22, driven by higher occupancy levels and increased average hotel room rates. Average monthly occupancy rates were 69% in FY 2024–25, 64% in FY 2023–24, 68% in FY 2022–23, and 70% in FY 2021–22.

Expenses
Governmental and business-type activity expenses of the City for the year totaled $15,321,490.

Governmental activity expenses totaled $10,769,998 (70.3% of total expenses). Business-type activities incurred $4,551,492 of expenses (29.7% of total expenses).

Governmental Activities
The table on the following page shows the cost of each of the City’s major programs and the net cost of the programs. Net cost is the total cost less fees and other direct revenue generated by the activities. The net cost reflects the financial burden that was placed on the City’s taxpayers by each of the programs.

Public Safety total cost of $3,259,406 represents about 30.3% of total governmental activities expenses, the largest expense category for governmental activities. General Government total cost of $2,827,264 represents about 26.3% of total cost of services. The largest single expense category for total net cost of service is Public Safety with a net cost of $2,999,907 which represents 36.0% of the total net cost. The second largest expense category for total net cost of service is General Government with a net cost of $2,682,150 which represents

32.2% of total net cost. The total cost of services and the net cost of services for the fiscal years ended June 30, 2025, and 2024, follows on the next page.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
11 26.25%

9.70%

9.12%

30.26%

24.45%

0.22%
Governmental Activities by Program
Fiscal Year Ended June 30, 2025
General government
Community development
Culture and leisure
Public safety
Public works
Interest of long-term debt
Total Cost Net Cost Total Cost Net Cost
of Services of Services of Services of Services
General government $ 2,827,264 $ 2,682,150 $ 2,730,898 $ 2,567,982 Community development 1,044,212 1,039,212 1,568,514 1,563,514 Culture and leisure 981,828 806,952 994,177 801,532
Public safety 3,259,406 2,999,907 3,005,815 2,819,656
Public works 2,633,098 773,589 2,550,373 230,509
Interest of long-term debt 24,190 24,190 20,597 20,597
Total $ 10,769,998 $ 8,326,000 $ 10,870,374 $ 8,003,790 2025 2024
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City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
12 Revenues by source for the fiscal years ended June 30, 2025, and 2024, are as follows:

Charges for services

2.33%
Operating grants

15.85%
Secured and unsecured
property taxes

15.25%
Sales and use tax

26.46%
Transient lodging tax

31.37%
Franchise taxes

3.07%
Other taxes

0.26%
Investment Income

5.00%
Fines & Forfeitures

0.23%
Other general revenues

0.18%
Revenues by Source - Governmental Activities
2025
Charges for services

2.50%
Operating grants

21.55%
Secured and unsecured
property taxes

14.00%
Sales and use tax

25.71%
Transient lodging tax

28.00%
Franchise taxes

2.86%
Other taxes

0.23%
Investment Income

4.79%
Fines & Forfeitures

0.09%
Other general revenues

0.27%
Revenues by Source - Governmental Activities
2024
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City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
13 Business-type activities
Business-type activities increased the City’s Net Position to $13,469,324 from $13,050,084 the previous fiscal year. The City has two business-type activities: Water and Wastewater. Water accounts for 68.0% of total business-type activity operating revenue, and Wastewater accounts for 32.0%.

Total business-type revenues for the Fiscal Year ended June 30, 2025 was $4,702,696, an increase of $562,604 (13.6%) from the prior fiscal year. Charges for services experienced an increase of $ 151,120 (3.9%) from the prior fiscal year. The increase for charges for current services for the Water Fund of $137,357 (5.2%) was influenced by water consumption. The increase for the Wastewater Fund of $13,763 (1.1%) was due to wastewater usage.

Other operating revenue increased by $4,536 (117.9%). Increase was due to an insurance payout for a damaged City vehicle. Business-type interest income decreased by $2,324 (1.2%) from the prior fiscal year.

The decrease was due to several rate cuts during the fiscal year.

Expenses of the business-type activities for the Fiscal Year ended June 30, 2025, totaled $4,466,903, an increase of $510,851 (12.9%) from the prior fiscal year. Of the total increases in expenses from the prior fiscal year, Water Fund expenses increased $368,500 (17.5%), and Wastewater Fund expenses increased $142,351 (36.9%).

Personnel services decreased $215,864 (18.1%) from the previous fiscal year. The increase was mostly due to GASB 68 adjustments for CalPERS retirement employer contributions and Other Post-Employment Benefit (OPEB) adjustments. GASB 68 and GASB 75 require the City to report its full pension and retiree benefit obligations, such as healthcare, on financial statements for greater transparency. These adjustments highlight long-term costs but do not change actual expenses or impact the City's ability to provide services. While they may cause financial statement fluctuations, they do not affect daily operations. Actual employee salary and benefit amounts increased by $48,824 (5.3%). The increase is due to a 3.94% cost-of-living adjustment (COLA) for full-time employees effective July 1, 2024.

Operations and maintenance expenses increased by $458,252 (19.9%) from the previous fiscal year.

Depreciation expense increased by $268,463 (58.0%). Non-Operating expenses also remained steady with a decrease of $7,841 (10.2%).

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
14 $-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
Water Wastewater
Program revenues Operating expenses
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
Water Wastewater
Program revenues Operating expenses
The expenses and program revenues summary for the business-type activities for the fiscal year ended June 30, 2025, and 2024, are as follows:

Expenses and Program Revenues
Business-type Activities
2024
Expenses and Program Revenues
Business-type Activities
2025
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City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
15 The revenues by source for the business-type activities for the fiscal years ended June 30, 2025, and 2024, are as follows:

Charges for services

85.48%
Operating and capital
grants and
contributions 10.45%
Investment income

4.07%
Revenues by Source - Business-type Activities
2025
Charges for services

93.34%
Operating and capital
grants and
contributions 1.99%
Investment income

4.68%
Revenues by Source - Business-type Activities
2024

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
16 FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS
The City of Buellton uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The fund financial statements focus on individual parts of the City government, reporting the City’s operations in more detail than the government-wide financial statements.

Governmental funds
The focus of the City of Buellton's governmental funds is to provide information on near term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City of Buellton's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year.

At June 30, 2025, the City of Buellton's governmental funds reported combined ending fund balances of $17,120,541, a decrease of $272,293 (1.6%) in comparison with the prior fiscal year ending fund balance.

Approximately 87.0% of the total combined ending fund balance ($14,887,531) constitutes unassigned fund balance. The remainder of fund balance is “non-spendable,” or restricted to indicate that it is not available for new spending because it has already been committed to fund amounts prepaid for the following fiscal year ($38,915) and restricted by other parties for a specific purpose ($2,194,095).

Total governmental revenue decreased slightly by $31,838 (0.2%) and governmental expenditures increased $1,961,384 (16.9%).

The majority of the $1.96 million increase in governmental expenditures is in Capital Outlay expenditures with an increase of $1.67 million (83.0%) due to the completion and current construction of capital improvement projects during the fiscal year.

General Fund
The General Fund is the chief operating fund of the City of Buellton and accounts for all financial resources not required to be accounted for in another fund.

The total fund balance in the General Fund is $15,069,057 of which $15,017,976 is shown as “unassigned.” As a measure of liquidity, it is useful to compare both total fund balance and spendable fund balance to total fund expenditures. Total General Fund balance which is available in spendable form equals 154.2% of total General Fund expenditures of $9,740,247. The City Council policy goal is to have reserves of at least 35% of budgeted operating expenditures, which means the City’s unrestricted fund balance exceeds policy goal.

The fund balance of the City of Buellton's General Fund decreased by $360,079 (2.3%) from the prior fiscal year. General Fund revenues totaled $12,266,578 which was an increase of $462,942 (3.9%) over the prior fiscal year. General Fund expenditures increased $833,885 (9.4%) compared to the prior fiscal year.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
17 Changes in General Fund Revenue
The increase in General Fund Revenue was primarily driven by a $383,899 (3.9%) rise in revenue from taxes, largely due to the additional TOT tax revenue generated from the increase in the occupancy tax rate from 12 % to 14 % effective February 1, 2025. Intergovernmental revenue increased by $59,884 (6.5%) due to a grant received from the Office of Transportation Safety (OTS) that supported bike safety initiatives. These increases were partially offset by minor declines in Charges for Current Services, which were lower than the prior year due to reduced Summar Camp capacity. Overall, revenue performance reflects stable economic activity with targeted growth in tax and intergovernmental sources.

Changes in General Fund Expenditures
Total General Fund Expenditures, exclusive of transfers out, were approximately $9.74 million at the fiscal year-end. Expenditures increased compared to the prior fiscal year primarily due to higher personnel costs and contractual services. Employee Services increased by $129,807 (5.33 %), reflecting a 3.94 % cost-ofliving adjustment for full-time employees, a merit adjustment for the City Manager, and the addition of one Administrative Assistant position. Operating and Maintenance expenditures increased by $528,079 (8.17 %), driven by higher Sheriff contract costs, expenditures associated with the General Plan Update, roof replacements at City facilities, park maintenance activities, and increased support for the Senior Center’s Meals-on-Wheels program. Overall expenditure growth reflects continued investment in core municipal services and long-term planning initiatives.

Other Financing Uses – Transfers Out
Transfers out are reported separately as Other Financing Uses in the governmental fund statements.

During fiscal year 2024-25, the General Fund transferred approximately $2.97 million to support capital improvement projects. This represents an increase of approximately $1.52 million over the prior year and reflects the City’s strategic use of available General Fund resources to fund infrastructure improvements.

Major capital projects supported through transfers included the Willemsen House Renovation, McMurray Road Widening, and various roadway and facility improvements. These transfers demonstrate the City’s commitment to maintaining and improving public infrastructure while preserving long-term fiscal sustainability
Major Funds, not including General Fund
 Housing Fund, with a fund balance of $10,862 had a negative change in fund balance of $655 (5.7%) due to the expenditure of assistance with senior mobile home roof repair.  Capital Improvement Fund, with a fund balance of $0, had no net change. This fund is used for tracking capital improvement project expenditures and the amount of transfers in and out are equal.

Other Governmental Funds
 American Relief Plan Act (ARPA Fund), with a fund balance of $33,455 had no change as funds have been mostly expended in prior fiscal years except for the remaining unused cash.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
18  Traffic Mitigation Fund, with a fund balance of $47,176 had a change in fund balance of $9,192 (3.5%) due to revenue received from interest earnings.
 Gas Tax Fund, with a fund balance of $619,829 had a negative change in fund balance of $119,031 (16.1%) mostly due to expenditures for annual road maintenance projects. Unused funds are being carried over to the next fiscal year.
 Measure A Fund, with a fund balance of $1,007,629 had a positive change in fund balance of $201,271 (25.0%) mainly due to Measure A monies received. Expenditures for future annual road maintenance projects are being carried over to the next fiscal year.  Local Transportation Fund, with a fund balance of $462,978 had a positive change in fund balance of $25,057 (5.7%) mainly due to revenue received and transfers in from Measure A for operating expenditures.
 Transportation Planning, with a negative fund balance of $130,445 had a negative change in fund balance of $28,048 (-0.5%) due to a decrease in STA funding claimed.

Proprietary funds
The City of Buellton's proprietary funds provide the same type of information found in the governmentwide financial statements, but reported activities that operate like a business and are primarily supported by customer fees.

As of June 30, 2025 total Net Position for the Water Fund was $10,888,516 an increase of $892,388 (8.9%) over last fiscal year. Unrestricted Net Position amounted to $5,791,359 an increase of $411,693 (7.7%).

The Net Investment in Water Capital Assets amounted to $5,097,157 an increase of $480,695 (10.4%).

The overall net change in the Net Position for the Water Fund is primarily due to revenue from charges for services and increase in deferred inflows of resources.

As of June 30, 2025, total Net Position for the Wastewater Fund was $2,580,808 a decrease of $473,148 (15.5%) over the last fiscal year. Unrestricted Net Position amounted to $335,259, a decrease of $314,621 (48.4%). The Net Investment in Wastewater Capital Assets amounted to $2,245,549, a decrease of $158,527 (6.6%). The overall net change in the Net Position for the Wastewater Fund is primarily due to deferred inflows of resources and decrease in capital assets.

GENERAL FUND BUDGETARY HIGHLIGHTS
In FY 2024-25, appropriation changes between the original and final budgets resulted to a decrease of approximately $6.19 million, shifting from a planned increase if $864,595 in the original budget a planned decrease of $5.3 million in the final budget. The change was primarily attributed to increased transfers to support capital improvement activities and mid-year operational adjustments. The General Fund exceeded revenue projections while expenditures were within appropriations. Historically, the City has not expended all appropriations and does not complete all budgeted capital projects, which creates budget savings. The unspent capital project appropriations are carried over into the new fiscal year.

Overall, actual revenue exceeded expenditures by $2.52 million. The actual net negative change in Fund Balance is $360,079. Following is a summary of General Fund Budget variances for the period ending June 30, 2025.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
19 Budgeted Amounts Actual Variance from
Revenues: Original Budget Final Budget Amounts Final Budget Taxes $ 9,746,953 $ 10,046,241 $ 10,266,245 $ 220,004
Licenses, permits, fees 10,125 10,125 45,600 35,475
Intergovernmental 816,274 1,077,160 987,698 (89,462)
Charges for services 316,705 305,171 313,377 8,206
Fines and forfeitures 5,300 5,300 30,487 25,187
Use of money and property 78,000 470,000 598,320 128,320 Other revenues 8,950 17,500 24,851 7,351
Total revenues 10,982,307 11,931,497 12,266,578 335,081 Expenditures:

General government 2,481,093 2,795,787 2,690,968 104,819 Community development 776,599 976,415 736,002 240,413
Cultural and leisure 969,491 1,026,225 891,013 135,212
Public safety 2,860,557 3,256,180 3,251,306 4,874
Public works 1,906,696 2,298,845 1,976,046 322,799
Capital outlay 48,000 91,050 120,448 (29,398)
Debt service:

Principal 20,580 20,580 49,999 (29,419)
Interest 19,161 19,161 24,465 (5,304)
Total expenditures 9,082,177 10,484,243 9,740,247 743,996 Excess of revenues over(under)
expenditures 1,900,130 1,447,254 2,526,331 1,079,077
Other Financing Sources:

Proceeds from notes payable - - 91,801 91,801
Transfers out (1,035,535) (6,781,797) (2,978,211) (3,803,586) Total other financing sources (1,035,535) (6,781,797) (2,886,410) 3,895,387 Net change in fund balance $ 864,595 $ (5,334,543) $ (360,079) $ 4,974,464

SUMMARY OF GENERAL FUND BUDGET VARIANCES
Changes from Original Budget to Final Budget
The City of Buellton adopts a biennial budget that serves as the foundation for financial planning and resource allocation. The FY 2024-25 budget was adopted as part of the FY 2023-24 and FY 2024-25 Biennial Budget and was subsequently amended during the first quarter and mid-year review to reflect updated revenue projections, grant activity, capital funding adjustments, and operational requirements identified during the fiscal year.

Budget amendments are periodically presented to the City Council to ensure appropriations remain aligned with economic conditions, infrastructure priorities, and service delivery needs.

Revenue changes from the original budget to final budget equals $949,190 (8.6%). Significant revenue adjustments included:
 $299,288 increase in tax revenues, primarily attributable to updated TOT projections from the TOT rate increase.
 $260,886 increase in intergovernmental revenues reflecting grant awards and reimbursements.  $392,000 increase in use of money and property due to higher-than-anticipated investment earnings resulting from elevated interest rates and strong cash portfolio performance.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
20 Expenditure changes from the original budget to the final budget increased from $9,082,177 to $10,484,243, an increase of $1,402,066 (15.4%). The increase was attributed across several functional areas. Most of the increase was in Public Safety function with an increase of $395,623 (13.8%). The increase was largely a result of contractual law enforcement cost adjustments with the Santa Barbara County Sheriff Department, equipment and vehicle-related costs. These costs reflect service-level maintenance rather than expansion.

General government appropriations increased by $314,694 (12.7%) primarily due to personnel and benefit cost updates, election-related expenses for a District 4 special election, and technology and equipment upgrades.

Community Development appropriations increased by $199,816 (25.7%) to support expanded contract planning services and staffing adjustments necessary to maintain service levels.

Public Works appropriations increased by $392,249 (20.6%) to address facility maintenance, including roof repairs at 202 Dairyland Road, irrigation and landscaping improvements, vehicle maintenance, software and IT installation, and acquisition of traffic and message trailer equipment.

Capital outlay adjustments included equipment purchases and technology improvements, several of which were one-time in nature. Overall, many of the mid-year expenditure adjustments were either nonrecurring or related to timing of operational and infrastructure needs rather than structural cost increases.

Transfers out increased significantly by $5,746,262 (554.9%). This increase reflects strategic funding allocations to support the City’s Capital Improvement Program, including transportation projects, water and wastewater infrastructure, park improvements, and grant-funded initiatives. These transfers represent planned long-term infrastructure investment decisions rather than operating cost growth.

Changes from Final Budget to Actuals
The City reported $335,081 (2.8%) more in revenue than projected, with the majority of this increase attributed to revenue from taxes, reflecting a significant budget variance of $220,004 (2.2%). This increase is due to additional TOT revenue received from the TOT rate increase. Favorable variances were a result of continued strength in investment earnings, and higher than anticipated revenues from fines, permits, and fee revenues. These results reflect stable economic conditions and conservative revenue projections practices.

Actual General Fund expenditures totaled $9,740,247, which was $743,996 (7.1%) below the final budget.

Favorable variances were realized across several functional areas, including Community Development, Public Works, Cultural and Leisure Services, Public Safety, and General Government. These savings were largely attributable to personnel vacancies, timing of project implementation, delayed contract services,

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
21 and prudent expenditure management throughout the fiscal year. Although debt service expenditures exceeded budgeted amounts, the variance was not material relative to total General Fund expenditures.

Transfers Out from the General Fund saw budget savings of approximately $3.80 million (56.1%) due to capital improvement projects that were either not initiated or not yet completed. Historically, transfers for capital projects are carried over into the subsequent fiscal year. Additional savings resulted from deferred repair, maintenance expenditures, and savings from current service contracts.

CAPITAL ASSETS
The City of Buellton's investment in capital assets for its governmental and business-type activities as of June 30, 2025 amounts to $41,007,835 (net of accumulated depreciation). This investment in capital assets includes land, buildings and improvements, equipment, and infrastructure. The total increase in the City's investment in capital assets for the current fiscal year was $3,182,074. Of the total increase, governmental activities showed an increase of $2,785,356 resulting from an increase in net depreciable capital assets. An increase of $396,718 in Business-type activities capital assets is the net result of ongoing projects offset by depreciation.
2025 2024 2025 2024 2025 2024
Land $ 2,639,835 $ 2,639,835 $ 247,691 $ 247,691 $ 2,887,526 $ 2,887,526 Contruction in progress 375,414 1,360,391 1,576,329 - 375,414 2,936,720 Total Nondepreciable Capital Assets 3,015,249 4,000,226 247,691 1,824,020 3,262,940 5,824,246 Buildings and improvements 13,763,251 9,196,029 582,135 582,135 14,345,386 9,778,164 Equipment 853,224 732,776 1,380,483 1,115,885 2,233,707 1,848,661 Infrastructure 24,401,347 24,401,347 20,723,483 18,283,405 45,124,830 42,684,752 Total Depreciable Capital Assets 39,017,822 34,330,152 22,686,101 19,981,425 61,703,923 54,311,577 Less: Accumulated Depreciation 11,570,678 10,653,341 12,388,350 11,656,721 23,959,028 22,310,062 Net Depreciable Capital Assets 27,447,144 23,676,811 10,297,751 8,324,704 37,744,895 32,001,515 Net Capital Assets $ 30,462,393 $ 27,677,037 $ 10,545,442 $ 10,148,724 $ 41,007,835 $ 37,825,761 Governmental Activities Business-type Activities Totals More detail of the capital assets and current activity can be found in the notes to the financial statements on Page 42 for significant accounting policies and Note 3 on Page 49 for other capital asset information.

DEBT ADMINISTRATION
As of June 30, 2025, the City had about $8.31 million of outstanding long-term obligations related to governmental activities and business-type activities. The City has no general obligation or revenue bonds.

Buellton enjoys a relatively healthy local economy; however, it does not currently have a bond rating because it has zero bonded debt on its balance sheet. When the City decides to go to Wall Street to sell bonds for future infrastructure improvements for Water or Wastewater systems, the City will go before Moody’s Investor Service or Fitch’s Rating Service for a credit rating. There is a definite need to update the user fees for Water and Wastewater services. An adequate multi-year rate management program will provide the best opportunity for obtaining an investment-grade credit rating for the City of Buellton in the future.

Debt outstanding as of June 30, 2025, with a comparison to prior fiscal year and the net change are as follows:

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
22 DEBT DESCRIPTION 2025 2024 2025 2024 2025 2024
Compensated absences $ 176,046 $ 153,209 $ 95,535 $ 80,322 $ 271,581 $ 233,531 Note payable - direct borrowing 839,898 782,047 3,202,736 3,128,186 4,042,634 3,910,233 Lease liabilities 19,264 35,313 - - 19,264 35,313
OPEB liability 1,949,803 1,930,649 857,476 846,952 2,807,279 2,777,601 Net pension liability 836,494 1,062,566 335,006 425,544 1,171,500 1,488,110 Total long-term liability $ 3,821,505 $ 3,963,784 $ 4,490,753 $ 4,481,004 $ 8,312,258 $ 8,444,788 Governmental Activities Business-type Activities Totals Additional information on long-term debt can be found in Notes 6 – Long-Term Liabilities and 7 – Changes in Long-Term Liabilities in the notes to the basic financial statements on page 53.

ECONOMIC OUTLOOK
The City of Buellton’s local economy remains stable and regionally competitive, supported primarily by tourism activity, regional market, and sustained property valuation growth within the Santa Ynez Valley.

The City concluded fiscal year 2024–25 in a strong financial position, with a General Fund balance of $15.07 million and total General Fund cash reserves of $15.04 million. With budgeted operating expenditures of approximately $12.2 million for the upcoming fiscal year, available reserves represent approximately 81.21 % of annual operating expenditures, providing substantial financial flexibility and risk mitigation capacity.

The City’s three primary General Fund revenue sources, TOT ($4.21 million), Sales Tax ($3.55 million), and Property Tax ($2.04 million), collectively account for a significant portion of ongoing revenues and are closely tied to regional economic conditions.

TOT revenues continue to benefit from the City’s strategic location along the U.S. Highway 101 corridor and proximity to regional tourism destinations. Recent collections have remained strong; however, this revenue source is inherently sensitive to travel patterns, fuel prices, consumer confidence, and broader economic cycles. A voter-approved TOT rate increase that became effective in early calendar year 2025 will have its first full-year fiscal impact in the upcoming fiscal year. Projected TOT revenues include both steady tourism activity and the full-year impact of the rate adjustment. While the rate increase strengthens the City’s revenue capacity and enhances long-term fiscal sustainability, actual collections will continue to depend on sustained tourism activity and broader economic conditions.

Sales Tax revenues reflect stable local and regional consumer spending patterns. While current performance remains consistent with prior years, moderating inflation, potential shifts in discretionary spending, and broader economic conditions may influence future growth rates. Property Tax revenues are projected to increase modestly, primarily due to annual assessed valuation growth and limited new development activity.

The Water and Wastewater Funds continue to face cost escalation related to infrastructure rehabilitation, regulatory compliance requirements, energy costs, and general operating inflation. Recently adopted rate adjustments are expected to enhance long-term cost recovery and financial sustainability; however, planned capital improvement needs and aging infrastructure will require continued prudent reserve management and multi-year financial planning.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
23 Expenditure trends indicate continued upward pressure in several key areas. Contracted law enforcement services represent a significant and increasing cost driver within the General Fund. Pension contributions associated with the California Public Employees’ Retirement System (CalPERS) unfunded accrued liabilities, along with Other Post-Employment Benefits (OPEB) obligations, are projected to increase in accordance with actuarial valuations and statewide funding policies. In addition, compliance with expanding State mandates related to housing, environmental regulation, and transportation planning may require additional staffing resources or professional services expenditures in future periods The City continues to emphasize conservative revenue forecasting practices and structural budget balance. The City Council’s adopted financial policy of maintaining an unassigned General Fund balance equal to at least 35 % of operating expenditures provides a formal safeguard against economic volatility and unforeseen events. Current reserve levels significantly exceed this policy threshold, positioning the City to manage cyclical revenue fluctuations while maintaining service levels.

Management will continue to monitor tourism indicators, regional economic activity, inflationary trends, pension cost projections, and State regulatory developments. Financial plans will be adjusted as necessary to preserve long-term fiscal sustainability. Overall, while near-term economic conditions remain favorable and structurally strengthened by the recent TOT rate adjustment, the City recognizes the cyclical nature of tourism and consumption-based revenues and the structural cost pressures facing municipal governments. Accordingly, the City remains committed to prudent fiscal management, maintaining adequate reserves, and ensuring long-term financial stability.

NEXT YEAR’S BUDGETED APPROPRIATIONS
Total appropriations for fiscal year 2025-26 are $30,434,683, an increase of $3,844,661 (14.45%) over the prior fiscal year total of $26,590,022, as summarized below. CIP expenditures are shown in the Citywide CIP row of the chart for consistent comparison:

Amount Percentage
FY 2025-26 FY 2024-25 Change Change
General fund $ 12,327,613 $ 10,552,709 $ 1,774,904 16.82% Water & Sewer Funds 6,351,070 5,452,848 898,222 16.47%
Citywide CIP Fund 11,481,500 10,312,465 1,169,035 11.34% Special revenue funds 274,500 272,000 2,500 #DIV/0! 0.92% Total budget $ 30,434,683 $ 26,590,022 $ 3,844,661 14.46%

1. General Fund – Shows an increase of $1,774,904 (16.82%). The increase in General Fund appropriations reflects workforce retention initiatives, service enhancements and select one-time investments. Key drivers include:
 Personnel Costs: Employee services increased about $432,613 (16.5%) due to 5.0% costof-living adjustment for full-time employees, market and merit-based salary adjustments for Department Heads and lead positions, and the addition of a full-time Administrative Analyst.

City of Buellton, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
24  Contracted Public Safety: Addition of a motor deputy under the Sheriff contract, increasing costs by $224,200 (11.8%).
 Library: Increased contributions of $78,674 (34.3%) due to contract renewal and reserve funding.
 Public Works: Facility upgrades, equipment replacement, and other operational improvements increased costs by $233,898 (17.3%).
 Non-Departmental: $500,000 contribution to the Santa Ynez Valley Children’s Museum, $62,778 (147.2%) increase in nonprofit funding, and $183,815 discretionary CalPERS payment.

2. Water & Wastewater Funds – Shows an increase of $898,222 (16.47%). Water and Wastewater Fund increases are primarily attributable to transfers for infrastructure rehabilitation and system improvements. In addition, Employee Services experienced a significant increase in both funds primarily due to salary and benefit increases. These increases reflect the City’s commitment to maintaining a skilled workforce capable of supporting the community’s water and wastewater infrastructure.

3. Citywide Capital Improvement Program (CIP) Fund – The CIP Fund expenditures relate to Capital Improvement Projects. CIP fund shows an increase of about $1,169,035 (11.34%). Historically, the City does not complete all budgeted projects within a fiscal year, and these projects are carried over to the next fiscal year. Planned projects for the upcoming fiscal year include the completion of the Willemsen property parking facility, SCADA system upgrades, and reservoir roof replacements, all of which are expected to enhance operational capacity and support ongoing growth objectives.

4. Special Revenue Funds – Expenditures increased by $2,500 (0.92%). Special revenue funds remain restricted and expenditures consistent.

Quarterly reports will be presented to support the financial management of City resources to provide information to the City Council and public. As part of the mid-year budget review, the City prepares a report on financial position, considers economic factors and highlights trends based on the City’s budget versus what actually occurred during the period. A discussion of other economic factors provides a means of comparing the local economy against the larger economic events that may affect the City. This provides Council with a budget review at four periods during the year. Council has a better control of costs, while identifying financial requirements prior to the close of the fiscal year. Modifications to the original budget take place each quarter as needed.

REQUESTS FOR INFORMATION
This Annual Comprehensive Financial Report is intended to provide citizens, taxpayers, investors, and creditors with a general overview of the City’s finances. If you have any questions about this report and need additional financial information contact Finance Director, 107 West Highway 246, Buellton, CA 93427, or visit the City’s web page at www.cityofbuellton.com.

CITY OF BUELLTON

STATEMENT OF NET POSITION
June 30, 2025
ASSETS
Cash and investments $ 17,911,605 $ 6,153,951 $ 24,065,556 Cash and investments - restricted 12,166 12,166
Accounts receivable, net 1,470,973 436,195 1,907,168
Interest receivable 79,287 27,853 107,140
Lease receivable 140,951 140,951
Inventory 138,230 138,230
Prepaid items 20,369 816,638 837,007
Note receivable 491,491 491,491
Non-current assets
Lease receivable, non-current 113,135 113,135
Capital assets:

Right to use asset 66,732 66,732
Less accumulated amortization (48,298) (48,298)
Non Depreciable:

Land 2,639,835 247,691 2,887,526
Construction in progress 375,414 375,414
Depreciable:

Buildings and improvements 13,763,251 582,135 14,345,386 Equipment 853,224 1,380,483 2,233,707
Infrastructure 24,401,347 20,723,483 45,124,830
Accumulated depreciation (11,570,678) (12,388,350) (23,959,028) Total non-current assets 30,593,962 10,545,442 41,139,404 Total assets 50,720,804 18,118,309 68,839,113

DEFERRED OUTFLOWS OF RESOURCES
Deferred pension 961,858 385,212 1,347,070
Deferred OPEB 195,211 85,849 281,060
Total deferred outflows of resources 1,157,069 471,061 1,628,130

LIABILITIES
Accounts payable 1,358,893 100,108 1,459,001
Accrued wages 98,453 15,653 114,106
Deposits 853,559 45,660 899,219
Interest payable 9,354 37,312 46,666
Unearned revenue 81,500 50,000 131,500
Noncurrent liabilities:

Due within one year
Compensated absences 59,938 19,107 79,045
Note payable - direct borrowing 40,004 126,087 166,091
Lease liabilities 11,162 11,162
OPEB liability 120,928 53,181 174,109
Total due within one year 232,032 198,375 430,407
Due in more than one year
Compensated absences 116,108 76,428 192,536
Note payable - direct borrowing 799,894 3,076,649 3,876,543 Lease liabilities 8,102 8,102
OPEB liability 1,828,875 804,295 2,633,170
Net pension liability 836,494 335,006 1,171,500
Total due in more than one year 3,589,473 4,292,378 7,881,851 Total liabilities 6,223,264 4,739,486 10,962,750

DEFERRED INFLOWS OF RESOURCES
Leases 235,540 235,540
Deferred pension 433,147 173,471 606,618
Deferred OPEB 470,896 207,089 677,985
Total deferred inflows of resources 1,139,583 380,560 1,520,143

NET POSITION
Net investment in capital assets 29,621,665 7,342,706 36,964,371 Restricted for:

FSA 12,166 12,166
Housing 502,353 502,353
Streets and roads 2,171,067 2,171,067
Unrestricted 12,207,775 6,126,618 18,334,393
Total net position $ 44,515,026 $ 13,469,324 $ 57,984,350 The notes to basic financial statements are an integral part of this statement.

Total
25 Governmental
Activities
Business-type
Activities

CITY OF BUELLTON

STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2025
Governmental activities:

General government $ 2,827,264 $ 138,829 $ $ 6,285 -
Community development 1,044,212 5,000
Culture and leisure 981,828 174,876
Public safety 3,259,406 259,499
Public works 2,633,098 1,859,509
Interest on long-term debt 24,190
Total governmental activities 10,769,998 313,705 2,130,293 Business-type activities:

Water 2,525,846 2,770,332 223,293
Wastewater 2,025,646 1,249,524 268,300
Total business-type activities 4,551,492 4,019,856 491,593 Total $ 15,321,490 $ 4,333,561 $ 2,130,293 $ 491,593
General revenues:

Taxes:

Property taxes
Sales and use taxes
Transient occupancy tax
Franchise taxes
Other taxes
Fines and forfeitures
Investment income
Other general revenues
Transfers
Total general revenues and transfers
Change in net position
Net position, beginning of fiscal year
Net position, end of fiscal year
The notes to basic financial statements are an integral part of this statement.

Operating
Contributions
Capital
26 Contributions
Expenses and Grants
Program Revenues
Charges for
Services and Grants

$ (2,682,150) $ $ (2,682,150) -
(1,039,212) (1,039,212)
(806,952) (806,952)
(2,999,907) (2,999,907)
(773,589) (773,589)
(24,190) (24,190)
(8,326,000) (8,326,000)
467,779 467,779
(507,822) (507,822)
(40,043) (40,043)
(8,326,000) (40,043) (8,366,043)
2,048,514 2,048,514
3,555,567 3,555,567
4,214,770 4,214,770
412,016 412,016
35,378 35,378
30,487 30,487
671,444 191,247 862,691
24,851 24,851
(268,036) 268,036
10,724,991 459,283 11,184,274
2,398,991 419,240 2,818,231
42,116,035 13,050,084 55,166,119
$ 44,515,026 $ 13,469,324 $ 57,984,350
27 Total
Net (Expenses) Revenue and Changes in Net Position
Governmental
Activities
Business-type
Activities

FUND FINANCIAL STATEMENTS

MAJOR FUNDS
Fund Description
Governmental Funds:

General Fund Primary operating fund of the City; accounts for all activities except those legally or administratively required to be accounted for in other funds.

Housing Fund Accounts for funds used to maintain the City's supply of affordable housing.

Capital Improvement Project Fund Accounts for capital improvement projects by centralizing project expenditures. Projects are tracked and managed for the purposes of planning, scheduling, and budgeting capital improvements.
28

CITY OF BUELLTON

GOVERNMENTAL FUNDS

BALANCE SHEET
June 30, 2025
ASSETS
Cash and investments $ 15,033,747 $ 10,815 $ 915,265 $ 1,951,778 $ 17,911,605 Cash and investments - restricted 12,166 12,166
Accounts receivable 1,231,659 239,314 1,470,973
Interest receivable 67,436 47 11,804 79,287
Lease receivable 254,086 254,086
Due from other funds 135,807 135,807
Note receivable 491,491 491,491
Prepaid items 20,369 20,369
Total assets $ 16,755,270 $ 502,353 $ 915,265 $ 2,202,896 $ 20,375,784

LIABILITIES, DEFERRED INFLOWS OF RESOURCES,

AND FUND BALANCES
Liabilities:

Accounts payable $ 417,161 $ $ 915,265 - $ 26,467 $ 1,358,893 Accrued wages and benefits 98,453 98,453
Deposits 853,559 853,559
Unearned revenue 81,500 81,500
Due to other funds 135,807 135,807
Total liabilities 1,450,673 915,265 162,274 2,528,212
Deferred Inflows of Resources:

Unavailable revenue 491,491 491,491
Leases 235,540 235,540
Total deferred inflows of resources 235,540 491,491 727,031 Fund Balances:

Nonspendable:

Prepaid items 20,369 20,369
Leases 18,546 18,546
Restricted:

FSA 12,166 12,166
Housing 10,862 10,862
Streets, roads, and transportation 2,171,067 2,171,067
Unassigned 15,017,976 (130,445) 14,887,531
Total fund balances 15,069,057 10,862 2,040,622 17,120,541 Total liabilities, deferred inflows of
resources, and fund balances $ 16,755,270 $ 502,353 $ 915,265 $ 2,202,896 $ 20,375,784 The notes to basic financial statements are an integral part of this statement.

Totals
Governmental
Fund
Capital
29 Improvement
Project
Fund
Other
Housing
Fund Funds
General

CITY OF BUELLTON

RECONCILIATION OF THE GOVERNMENTAL FUNDS - BALANCE SHEET

TO THE STATEMENT OF NET POSITION
June 30, 2025
Total fund balances - governmental funds $ 17,120,541
In governmental funds, only current assets are reported. In the statement of net position, all assets are reported, including capital assets, leased assets, accumulated depreciation, and accumulated amortization.

Capital assets at historical cost $ 42,033,071
Accumulated depreciation (11,570,678)
Leased assets at historical cost 66,732
Accumulated amortization (48,298)
Net 30,480,827
In governmental funds, certain receivables are deferred because they do not meet current financial obligations. However, in government-wide statement of activities, they are recognized in the period that they are incurred. 491,491 In governmental funds, interest on long-term debt is not recognized until the period in which it matures and is paid. In the government-wide statement of activities, it is recognized in the period that it is incurred. (9,354)
Long-term liabilities: In governmental funds, only current liabilities are reported. In the statement of net position all liabilities, including long-term liabilities, are reported.

Long-term liabilities relating to governmental activities consist of:

Compensated absences payable $ 176,046
Note payable - direct borrowing 839,898
Lease liability 19,264
OPEB liability 1,949,803
Net pension liability 836,494
Total (3,821,505)
In governmental funds, deferred outflows and inflows of resources relating to pensions and OPEB are not reported because they are applicable to future periods.

In the statement of net position, deferred outflows and inflows of resources relating to pensions and OPEB are reported.

Deferred outflows of resources relating:
to pensions $ 961,858
to OPEB 195,211
Deferred inflows of resources relating:
to pensions (433,147)
to OPEB (470,896)
253,026
Total net position - governmental activities $ 44,515,026 The notes to basic financial statements are an integral part of this statement. 30

CITY OF BUELLTON

GOVERNMENTAL FUNDS

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES For the Fiscal Year Ended June 30, 2025
Revenues:

Taxes $ 10,266,245 $ - $ - $ - $ 10,266,245
Licenses, permits, and fees 45,600 7,866 53,466
Intergovernmental 987,698 1,089,129 2,076,827
Charges for services 313,377 328 313,705
Fines and forfeitures 30,487 30,487
Use of money and property 598,320 317 72,807 671,444
Other 24,851 24,851
Total revenues 12,266,578 645 1,169,802 13,437,025
Expenditures:

Current:

General government 2,690,968 2,690,968
Community development 736,002 1,300 737,302
Culture and leisure 891,013 891,013
Public safety 3,251,306 3,251,306
Public works 1,976,046 209,291 2,185,337
Capital outlay 120,448 3,582,245 3,702,693
Debt Service:

Principal 49,999 49,999
Interest 24,465 24,465
Total expenditures 9,740,247 1,300 3,582,245 209,291 13,533,083 Excess of revenues over (under) expenditures 2,526,331 (655) (3,582,245) 960,511 (96,058) Other financing sources (uses):

Procceds from the issuance of notes payable 91,801 91,801 Transfers in 3,582,245 30,000 3,612,245
Transfers out (2,978,211) (902,070) (3,880,281)
Total other financing sources (uses) (2,886,410) 3,582,245 (872,070) (176,235) Net change in fund balances (360,079) (655) 88,441 (272,293) Fund balances - July 1 15,429,136 11,517 1,952,181 17,392,834 Fund balances - June 30 $ 15,069,057 $ 10,862 $ $ 2,040,622 $ 17,120,541 - The notes to basic financial statements are an integral part of this statement.

Improvement
Fund Funds
Project
Capital
Totals
Housing
31 Nonmajor
General Governmental
Fund Fund

CITY OF BUELLTON

RECONCILIATION OF THE STATEMENT OF

REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF

GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2025
Total net change in fund balances - governmental funds $ (272,293) Capital outlays are reported in governmental funds as expenditures. However, in the statement of activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense. This is the amount by which additions to capital outlay of $3,702,693 was more than depreciation expense ($917,337). 2,785,356 Right to use assets are reported in governmental funds as expenditures. However, in the statement of activities, the cost of those assets is allocated over the length of the lease. This is the amount by which additions to right to use assets under GASB Statement No. 87 of $0 is less than amortization expense of $(15,732). (15,732)
In governmental funds, interest on long-term debt is recognized in the period that it becomes due. In the government-wide statement of activities, it is recognized in the period that it is incurred.

Unmatured interest owing at the end of the period, less matured interest paid during the period but owing from the prior period was: 275
In the statement of activities, compensated absences are measured by the amounts earned during the fiscal year. In governmental funds, however, expenditures for these items are measured by the amount of financial resources used (essentially the amounts paid). This fiscal year, vacation earned exceeded the amounts used by $22,837. (22,837)
In governmental funds, OPEB costs are recognized when employer contributions are made.

In the statement of activities, OPEB costs are recognized on the accrual basis. This fiscal year, the difference between accrual-basis OPEB costs and actual employer contribution was: (1,492) In governmental funds, proceeds from debt are recognized as other financing sources.

In the government-wide statements, proceeds from debt are reported as increases to liabilities. Amounts recognized in governmental funds as proceeds from debt: (91,801) In governmental funds, repayments of long-term debt are reported as expenditures.

In the government-wide statements, repayments of long-term debt are reported as reductions of liabilities. 33,950
In governmental funds, pension costs are recognized when employer contributions are made. In the statement of activities, pension costs are recognized on the accrual basis.

This year, the difference between accrual-basis pension costs and actual employer contributions was: (32,484)
The issuance of lease payable provides current financial resources to governmental funds, while the repayment of the principal of lease payable consumes the current financial resources of governmental funds. Neither transaction has any effect on net position. The amount is the net effect of these differences in the treatment of lease payable and related items.

New lease payable contract $ -
Principal payments on lease payable 16,049
16,049
Changes in net position - governmental activities $ 2,398,991 The notes to basic financial statements are an integral part of this statement. 32

PROPRIETARY FUNDS

Fund Description
Major Funds:

Water Fund Accounts for revenues and expenses associated with the City's Water enterprise operation.

Wastewater Fund Accounts for all activities associated with the operation and maintenance of providing Sewer services.
33

CITY OF BUELLTON

PROPRIETARY FUNDS

STATEMENT OF NET POSITION
June 30, 2025
Water Wastewater
Fund Fund Totals
ASSETS
Current assets:

Cash and investments $ 5,226,829 $ 927,122 $ 6,153,951
Accounts receivable, net 259,774 176,421 436,195
Interest receivable 23,368 4,485 27,853
Inventory 138,230 138,230
Prepaid items 807,836 8,802 816,638
Total current assets 6,456,037 1,116,830 7,572,867
Capital assets:

Land 247,691 247,691
Buildings and improvements 582,135 582,135
Equipment 567,301 813,182 1,380,483
Infrastructure 11,977,753 8,745,730 20,723,483
13,374,880 9,558,912 22,933,792
Less accumulated depreciation (6,333,695) (6,054,655) (12,388,350) Total capital assets (net of accumulated depreciation) 7,041,185 3,504,257 10,545,442 Total assets 13,497,222 4,621,087 18,118,309

DEFERRED OUTFLOWS OF RESOURCES
Deferred pension 162,100 223,112 385,212
Deferred OPEB 34,648 51,201 85,849
Total deferred outflows of resources 196,748 274,313 471,061

LIABILITIES
Current liabilities:

Accounts payable 56,914 43,194 100,108
Accrued wages and benefits 6,106 9,547 15,653
Deposits 45,660 45,660
Unearned revenue 50,000 50,000
Interest payable 22,854 14,458 37,312
Compensated absences, current 7,254 11,853 19,107
Note payable - direct borrowing, current 73,413 52,674 126,087 OPEB liability, current 21,463 31,718 53,181
Total current liabilities 283,664 163,444 447,108
Noncurrent liabilities:

Note payable - direct borrowing, noncurrent 1,870,615 1,206,034 3,076,649 Compensated absences 29,018 47,410 76,428
OPEB liability 324,607 479,688 804,295
Net pension liability 140,973 194,033 335,006
Total noncurrent liabilities 2,365,213 1,927,165 4,292,378 Total liabilities 2,648,877 2,090,609 4,739,486

DEFERRED INFLOWS OF RESOURCES
Deferred pension 72,998 100,473 173,471
Deferred OPEB 83,579 123,510 207,089
Total deferred inflows of resources 156,577 223,983 380,560

NET POSITION
Net investment in capital assets 5,097,157 2,245,549 7,342,706 Unrestricted 5,791,359 335,259 6,126,618
Total net position $ 10,888,516 $ 2,580,808 $ 13,469,324 The notes to basic financial statements are an integral part of this statement. 34

CITY OF BUELLTON

PROPRIETARY FUNDS

STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION For the Fiscal Year Ended June 30, 2025
Water Wastewater
Fund Fund Totals
Operating Revenues:

Charges for services $ 2,761,950 $ 1,249,524 $ 4,011,474 Other operating revenues 8,382 8,382
Total operating revenues 2,770,332 1,249,524 4,019,856
Operating Expenses:

Personnel services 384,903 593,620 978,523
Operations and maintenance 1,714,529 1,042,222 2,756,751 Depreciation 375,611 356,018 731,629
Total operating expenses 2,475,043 1,991,860 4,466,903
Operating income (loss) 295,289 (742,336) (447,047)
Non-Operating Revenues (Expenses):

Investment income 156,573 34,674 191,247
Interest expense (50,803) (33,786) (84,589)
Total non-operating revenues (expenses) 105,770 888 106,658 Income (loss) before transfers and capital contributions 401,059 (741,448) (340,389) Capital Contributions and Transfers
Capital impact fees 223,293 268,300 491,593
Transfers in 268,036 268,036
Total transfers and capital contributions 491,329 268,300 759,629 Change in net position 892,388 (473,148) 419,240
Net position, July 1 9,996,128 3,053,956 13,050,084
Net position, June 30 $ 10,888,516 $ 2,580,808 $ 13,469,324 The notes to basic financial statements are an integral part of this statement. 35

CITY OF BUELLTON

PROPRIETARY FUNDS

STATEMENT OF CASH FLOWS
For the Fiscal Year Ended June 30, 2025
Water Wastewater
Fund Fund Totals
Cash Flows From Operating Activities:

Receipts from customers $ 2,833,848 $ 1,257,890 $ 4,091,738 Payments to suppliers (1,612,008) (984,292) (2,596,300) Payments to employees (382,647) (560,894) (943,541)
Net cash provided (used) by operating activities 839,193 (287,296) 551,897 Cash Flows From Capital and Related Financing Activities:

Acquisition of capital assets (884,321) (244,026) (1,128,347) Note principal payments (63,787) (45,265) (109,052)
Interest payments (51,420) (34,177) (85,597)
Note proceeds 91,801 91,801 183,602
Capital impact fees 223,293 268,300 491,593
Net cash provided (used) by capital and related
financing activities (684,434) 36,633 (647,801)
Cash Flows From Non-Capital Financing Activities:

Transfers 268,036 268,036
Net cash provided by non-capital financing
activities 268,036 268,036
Cash Flows From Investing Activities:

Investment income 154,203 35,682 189,885
Net cash provided by investing activities 154,203 35,682 189,885 Net increase (decrease) in cash and cash equivalents 576,998 (214,981) 362,017 Cash and cash equivalents - July 1 4,649,831 1,142,103 5,791,934 Cash and cash equivalents - June 30 $ 5,226,829 $ 927,122 $ 6,153,951 Reconciliation of operating income (loss) to net cash provided (used) by operating activities:

Operating income (loss) $ 295,289 $ (742,336) $ (447,047) Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities:

Depreciation expense 375,611 356,018 731,629
Change in assets, deferred outflows of resources, liabilities, and deferred inflows of resources:

Receivables, net 491 8,366 8,857
Prepaid expenses 86,561 43,624 130,185
Inventories (4,853) (4,853)
Accounts and other payables 20,813 14,306 35,119
Accrued wages and benefits 1,105 2,576 3,681
Deposits 13,025 13,025
Unearned revenue 50,000 50,000
Compensated absences 4,551 10,662 15,213
OPEB liability (4,535) 15,059 10,524
Deferred outflows of resources 92,634 126,067 218,701
Net pension liability (38,099) (52,439) (90,538)
Deferred inflows of resources (53,400) (69,199) (122,599) Net cash provided (used) by operating activities $ 839,193 $ (287,296) $ 551,897 The notes to basic financial statements are an integral part of this statement. 36

NOTES TO THE FINANCIAL STATEMENTS

CITY OF BUELLTON

INDEX TO NOTES TO THE FINANCIAL STATEMENTS
For the year ended June 30, 2025
Page
Note 1 – Summary of Significant Accounting Policies ............................................................................................................................. 38 Note 2 – Cash and Investments ............................................................................................................................................................... 46 Note 3 – Capital Assets ............................................................................................................................................................................ 49 Note 4 – Right to Use Lease Asset ........................................................................................................................................................... 50 Note 5 – Lease Receivable ....................................................................................................................................................................... 50 Note 6 – Long-term Liabilities .................................................................................................................................................................. 51 Note 7 – Changes in Long-term Liabilities ............................................................................................................................................... 52 Note 8 – Interfund Transactions .............................................................................................................................................................. 53 Note 9 – Risk Management ...................................................................................................................................................................... 54 Note 10 – Pension Plan ............................................................................................................................................................................ 56 Note 11 – Post-Employment Health Care Benefits (OPEB) ...................................................................................................................... 59 Note 12 – Contingencies, Commitments, and Subsequent Events .......................................................................................................... 62 Note 13 – Joint Operating Agreements ................................................................................................................................................... 62 Note 14 – Deficit Fund Balance ................................................................................................................................................................ 62 37 ---

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
38 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
The reporting entity is the City of Buellton. There are no component units included in this report that meet the reporting entity definition criteria of GASB Statement No. 14, The Financial Reporting Entity, as amended by GASB Statement No. 39, GASB Statement No. 61, GASB Statement No. 80, and GASB Statement No. 90.

The City of Buellton (City) was incorporated in 1992, under the laws and regulations of the State of California (State). The City operates under a City Council/Manager form of government and provides the following services: public safety (Police and Fire), highways and streets, water service, wastewater, public improvements, planning and zoning, and general administration.

B. Basis of Presentation
The City’s basic financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. The Governmental Accounting Standards Board is the acknowledged standard setting body for establishing accounting and financial reporting standards followed by governmental entities in the United States of America.

Government-wide Statements
The Statement of Net Position and the Statement of Activities display information about the primary government (the City). These statements include the financial activities of the overall City government.

Eliminations have been made to minimize the double counting of internal activities although interfund services provided and used are not eliminated in the process of consolidation. Government activities generally are financed through taxes, intergovernmental revenues, and other non-exchange transactions.

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

Fund Financial Statements
The fund financial statements provide information about the City’s funds. Separate statements for each fund category (governmental and proprietary) are presented. The emphasis of fund financial statements is on major individual funds, each of which is displayed in a separate column. All remaining governmental funds are aggregated and reported as nonmajor funds.

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 all proprietary funds.

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 non-current) 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 liability is incurred.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
39 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) B. Basis of Presentation (Continued)
Operating revenues in the proprietary funds are those revenues that are generated from the primary operation 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.

C. Major Funds

GASB Statement No. 34 defines major funds and requires that the City’s major funds are identified and presented separately in the fund financial statements. All other funds, called nonmajor funds, are combined and reported in a single column in the Fund Statements as Other Governmental Funds, regardless of their fund-type.

Major funds are defined as funds that have either assets plus deferred outflows, liabilities plus deferred inflows, revenues, or expenditures/expenses at least ten percent of their fund-type total or at least five percent of the total for all funds. The General Fund is always a major fund. The City may also voluntarily select other funds it believes should be presented as major funds.

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

General Fund – Accounts for all general revenues of the City not specifically levied or collected for other City funds and the related expenditures. The General Fund accounts for all financial resources of a governmental unit which are not accounted for in other funds.

Housing Fund – Accounts for funds used to maintain the City's supply of affordable housing.

Capital Improvement Project Fund – Accounts for capital improvement projects by centralizing project expenditures. Projects are tracked and managed for the purposes of planning, scheduling, and budgeting capital improvements.

The City reported the following major proprietary funds:

Water Fund – This fund was established as a separate fund to account for the operation of the City's water utility. It is a self-supporting activity that provides services on a user-charge basis to residents and businesses located in the City.

Wastewater Fund – This fund was established as a separate fund to account for the operation of the City's wastewater utility. It is a self-supporting activity that provides services on a user-charge basis to residents and businesses located in the City.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
40 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) D. Basis of Accounting

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

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

The City considers all revenues reported in the governmental funds to be available if the revenues are collected within sixty days after fiscal year end. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on long-term debt, claims and judgments, and compensated absences, which are recognized as expenditures to the extent that they have matured.

Capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of long-term debt and acquisitions under capital leases are reported as other financing sources.

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

Other revenues susceptible to accrual include other taxes, intergovernmental revenues, interest, and charges for services.

Grant revenues are recognized in the fiscal year in which all eligibility requirements are met. Under the terms of grant agreements, the City may fund certain programs with a combination of cost-reimbursement grants, categorical block grants, and general revenues. Thus, both restricted and unrestricted net assets may be available to finance program expenditures/expenses. The City’s policy is to first apply restricted grant resources to such programs, followed by general revenues, if necessary.

E. Property Taxes
California Constitution Article XIII A limits the combined property tax rate to one percent of a property’s assessed valuation. Additional taxes may be imposed with voters’ approval. Assessed value is calculated at one hundred percent of a property’s fair value, as defined by Article XIII A, and may be increased by no more than two percent per year, unless a change in ownership or new construction occurs. The State legislature has determined the method of distributing the one percent tax levy among the various taxing jurisdictions.

Property tax revenues are recognized in the fiscal year for which taxes have been levied and collected within sixty days of fiscal year end. Property taxes are billed and collected as follows:

Secured Unsecured
Valuation/Lien Dates January 1 January 1
Levy Dates July 1 July 1
Due Dates November 1 (50%) August 1
February 1 (50%)
Delinquency Dates December 10 (Nov.) August 31
April 10 (Feb.)

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
41 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) F. Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenditures or expenses as appropriate. Actual results could differ from those estimates.

G. 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. For purposes of the statement of cash flows of the proprietary fund types, cash and cash equivalents include all investments, as the City operates an internal cash management pool which maintains the general characteristics of a demand deposit account.

Disclosure requirements for Deposits and Investment Risks were made in the following areas:
• Interest Rate Risk
• Credit Risk
-Overall
- Custodial Credit Risk
- Concentrations of Credit Risk
In addition, other disclosures are specified including use of certain methods to present deposits and investments, highly sensitive investments, credit quality at fiscal year-end, and other disclosures.

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 participates in the Local Agency Investment Fund (LAIF), an investment pool managed by the State of California. LAIF has invested a portion of the pooled 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 a result of changes in interest rates.

H. Inventories and Prepaid Items
Inventories for both governmental and proprietary funds, consisting principally of materials and supplies held for consumption, are valued at cost, approximating market value, using the first-in, first-out (FIFO) method.

The costs of governmental fund inventories are recorded as expenditures when consumed, rather than when purchased. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both the government-wide and fund financial statements. The cost of prepaid items is recorded as expenditures/expenses when consumed rather than when purchased. The inventories and prepaid items recorded in the governmental funds do not reflect current appropriable resources and, thus, an equivalent portion of the fund balance is reported as nonspendable.

I. Lease Receivable
The City’s lease receivable is measured at the present value of lease payments expected to be received during the lease term. Under the lease agreement, the City may receive variable lease payments that are dependent upon the lessee’s revenue. The variable payments are recorded as an inflow of resources in the period the payment is received. A deferred inflow of resources is recorded for the lease. The deferred inflow of resources is recorded at the initiation of the lease in an amount equal to the initial recording of the lease receivable. The deferred inflow of resources is amortized on a straight-line basis over the term of the lease.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
42 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) J. Capital Assets
Capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available.

Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are valued at their acquisition value. City policy is to capitalize all capital assets with costs exceeding a minimum threshold of $5,000 and with useful lives exceeding one year. Depreciation is recorded on a straight-line basis over estimated useful lives of the assets as follows:

Structures and Improvements 50 years
Machinery and Equipment 3-15 years
Infrastructure 15-100 years
The City defines infrastructure as the basic physical assets that allow the City to function. The assets include streets, wastewater, park lands, and buildings. 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. For all infrastructure systems, the City elected to use the Basic Approach defined by GASB Statement No. 34, which requires all infrastructure be reported at historical cost and be depreciated over their estimated useful lives.

K. Right to Use Assets
The City has recorded right to use lease assets as a result of implementing GASB Statement No. 87. The right to use is initially measured at an amount equal to the initial measurement of the related lease liability plus any lease payments made prior to the lease term less lease incentives plus ancillary charges necessary to place the lease into service. The right to use assets are amortized on a straight-line basis over the life of the related lease.

L. Long-term Liabilities
Government-Wide Financial Statements
Long-term debt and other financial obligations are reported as liabilities in the appropriate activities. Bond premiums and discounts are amortized over the life of the bonds using the straight-line method. Bonds payable are reported net of the applicable premium or discount. Issuance costs are reported as deferred outflows if they constitute bond insurance.

Fund Financial Statements
The Governmental Fund Financial Statements do not present long-term liabilities. Consequently, long-term liabilities are shown as a reconciling item in the Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position. Governmental funds recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financial sources. Premiums received on debt issuance are reported as other financing sources while discounts on debt issuance are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. Proprietary Fund Financial Statements use the same principles as those used in the Government-Wide Financial Statements.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
43 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) M. Compensated Absences
Government-Wide Financial Statements
For governmental and business-type activities, compensated absences are recorded as incurred and the related expenses and liabilities are reported in the appropriate activity. The City conforms with GASB Statement No. 101 on its reporting of compensated absences.

Fund Financial Statements
In compliance with Governmental Accounting Standards Board Statement No. 16, the City has established a liability for accrued vacation in relevant funds. For governmental type funds, the current liability appears in the respective funds. All vacation paid is accrued when incurred in the government-wide and proprietary funds financial statements. This liability is set up for the current employees at the current rates of pay. Each fiscal year, an adjustment to the liability is made based on pay rate changes and adjustments for the current portion. The General Fund is primarily responsible for the repayment of the governmental portion of compensated absences. The City's policy is to record sick leave as an operating expense in the period taken.

N. Unearned Revenue
Unearned revenue arises when assets are received before revenue recognition criteria have been satisfied.

Grants and entitlements received before eligibility requirements are met are recorded as unearned revenue.

O. Deferred Outflows and Inflows of Resources
Pursuant to GASB Statement No. 63, “Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position,” and GASB Statement No. 65, “Items Previously Reported as Assets and Liabilities,” the City recognizes deferred outflows and inflows of resources.

In addition to assets, the Statement of Net Position will sometimes report a separate section for deferred outflows of resources. A deferred outflow of resources represents a consumption of net assets by the government that applies to future periods. The City has two items that qualify for reporting in this category; refer to Note 10 and Note 11 for detailed listing of the deferred outflows of resources the City has reported.

In addition to liabilities, the Statement of Net Position and the Governmental Funds – Balance Sheet will sometimes report a separate section for deferred inflows of resources. A deferred inflow of resources is an acquisition of net assets by the City that applies to a future periods. The City has three items that qualify for reporting in this category; refer to Notes 5, 10, and 11 for detailed listing of the deferred inflows of resources the City has reported.

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

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
44 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Q. Other Postemployment Benefits (OPEB)
For purposes of measuring the net OPEB liability and deferred outflows/inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s plan (OPEB Plan) and additions to/deductions from the Plan’s fiduciary net position have been determined on the same basis. For this purpose, benefit payments are recognized when due and payable in accordance with the benefit terms.

Investments are reported at fair value.

R. Fund Balances
Fund balances of the governmental funds are classified as follows:

Nonspendable Fund Balance – represents amounts that cannot be spent because they are either not in spendable form (such as inventory or prepaid insurance) or are legally required to remain intact (such as notes receivable or the lease receivable in excess of the deferred inflow of resources for the lease receivable).

Restricted Fund Balance – represents amounts that are constrained by external parties, constitutional provisions or enabling legislation.

Committed Fund Balance – represents amounts that can only be used for a specific purpose because of a formal action by the City’s governing board. Committed amounts cannot be used for any other purpose unless the governing board removes those constraints by taking the same type of formal action. Committed fund balance amounts may be used for other purposes with appropriate due process by the governing board.

Commitments are typically done through adoption and amendment of the budget. Committed fund balance amounts differ from restricted balances in that the constraints on their use do not come from outside parties, constitutional provisions, or enabling legislation.

Assigned Fund Balance – represents amounts that the City intends to use for a specific purpose, but that do not meet the criteria to be classified as restricted or committed. Intent may be stipulated by the governing board or by an official or body to which the governing board delegates the authority. Specific amounts that are not restricted or committed in a special revenue, capital projects, debt service, or permanent fund are assigned for purposes in accordance with the nature of their fund type or the fund’s primary purpose.

Assignments within the general fund convey that the intended use of those amounts is for a specific purpose that is narrower than the general purpose of the City.

Unassigned Fund Balance – represents amounts which are unconstrained in that they may be spent for any purpose. Only the general fund reports a positive unassigned fund balance. Other governmental funds might report a negative balance in this classification because of overspending for specific purposes for which amounts had been restricted, committed or assigned.

When an expenditure is incurred for a purpose for which both restricted and unrestricted fund balance is available, the City considers restricted funds to have been spent first. When an expenditure is incurred for which committed, assigned, or unassigned fund balances are available, the City considers amounts to have been spent first out of committed funds, then assigned funds, and finally unassigned funds.

S. Net Position
GASB Statement No. 63 requires that the difference between assets added to the deferred outflows of resources, and liabilities added to the deferred inflows of resources, be reported as net position. Net position is classified as either net investment in capital assets, restricted, or unrestricted.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
45 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) S. Net Position (Continued)
Net position that is net investment in capital assets, consists of capital assets, net of accumulated depreciation, and reduced by the outstanding principal of related debt. Restricted net position is the portion of net position that has external constraints placed on it by creditors, grantors, contributors, laws, or regulations of other governments, or through constitutional provisions or enabling legislations. Unrestricted net position consists of net position that does not meet the definition of net investment in capital assets or restricted net position.

T. Interfund Balances/Internal Balances
Advances to and advances from other funds represent interfund loans in the fund financial statements.

Advances between funds are offset by a fund liability or by deferred revenue in the applicable governmental funds to indicate that they are not expendable available financial resources. Any unpaid interest due to lack of funds in the borrowing fund increases the principal owed and is reported in the lending fund as deferred revenue. All other outstanding balances between funds are reported as due to and due from other funds.

These are generally repaid within the following fiscal year. Any residual balances outstanding between the governmental activities and business-type activities are reported in the Government-Wide Financial Statements as “internal balances.”
U. Budgetary Accounting
The City Council establishes budgets for the General Fund and all Special Revenue Funds. Budgetary control is legally maintained at the fund level for these funds. Department heads submit budget requests to the City Manager. The City Manager prepares an estimate of revenues and prepares recommendations for the next year’s budget. The preliminary budget may or may not be amended by the City Council and is adopted by resolution by the City Council on or before June 30 in accordance with the municipal code. The City Council may amend the budget by motion during the fiscal year. Only the Council can authorize transfers between funds and approve inter-fund loans. The City Manager is authorized to transfer budgeted amounts within a fund without formal council action or approval. The City Manager is authorized to increase expenditures in relation to revenues in funds receiving assigned revenues without approval by the City Council.

Expenditures may not legally exceed appropriations at the fund level, which is the legal level of control.

Supplemental appropriations, which increase appropriations, may be made during the fiscal year. Budget information is presented for the General and budgeted Special Revenue Funds in the fund financial statements. The budget information is presented on a basis consistent with generally accepted accounting principles. Appropriations, except open project appropriations, and unexpended grant appropriations, lapse at the end of each fiscal year.

Appropriations lapse at the end of the fiscal year and then are re-budgeted for the coming year. Under Article XIII B of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller, returned to the taxpayers through revised tax rates or revised fees schedules, or an excess in one year may be offset against a deficit in the following year. For the fiscal year ended June 30, 2025, based on the calculations by City Management, proceeds of taxes did not exceed the appropriations limit. Budgeted appropriations for the various governmental funds become effective each July 1.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
46 NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) V. Future Accounting Pronouncements
GASB Statements listed below will be implemented in future financial statements:

Statement No. 103 "Financial Reporting Model Improvements"The provisions of this statement are effective for fiscal years beginning after June 15, 2025.

Statement No. 104 "Disclosure of Certain Capital Assets" The provisions of this statement are effective for fiscal years beginning after June 15, 2025.

Statement No. 105 "Subsequent Events" The provisions of this statement are effective for fiscal years beginning after June 15, 2026.

NOTE 2 – CASH AND INVESTMENTS
The composition of cash and investments as of June 30, 2025, is as follows:

Cash on hand $ 700
Deposits with financial institutions 11,382,672
Investments 12,694,350
Total cash and investments $ 24,077,722
Cash and investments are classified in the financial statements as shown below, based on whether or not their use is restricted under the terms of the City's debt instruments or Agency's agreements:

Statement of Net Position:

Cash and investments $ 24,065,556
Restricted cash 12,166
Total cash and investments $ 24,077,722
Governmental Accounting Standards Board (GASB) Statement No. 72, “Fair Value Measurements and Application,” provides the framework for measuring fair value. The framework categorizes a fair value hierarchy that is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. The City has recurring fair value measurements as of June 30, 2025 as shown below:

Quoted Prices in Significant Other Significant
Active Markets for Observable Unobservable
Identical Assets Inputs Inputs
Investments by fair value Total (Level 1) (Level 2) (Level 3) Debt securities:

Negotiable certificates of deposit $ 2,245,470 $ 2,245,470 $ - $ - U.S. Treasury securities 102,461 102,461 Total investments measured at fair value 2,347,931 $ 2,347,931 $ - $ - Investments measured at amortized cost:

LAIF 9,590,093
Money market funds 756,326
Total investments $ 12,694,350

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
47 NOTE 2 – CASH AND INVESTMENTS (Continued)
A. 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. The table also identifies certain provisions of the California Government Code 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
U.S. Treasury Obligations 5 years None None
U.S. Agency Securities 5 years None None
Bankers’ Acceptance 180 days 40% 30%
Commercial Paper 270 days 15% 10%
Negotiable Certificates of Deposit 5 years 30% None
Repurchase Agreements 1 year None None
Reverse Repurchase Agreements 92 days 20% None
Money Market Mutual Funds N/A 20% 10%
Local Agency Investment Fund (LAIF) N/A None $75,000,000 B. Disclosures Relating to 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 of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer-term investments, and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flows and liquidity needed for operations.

Information about the sensitivity of the fair values of the City’s investments to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investments by maturity:

Investment Type
LAIF $ 9,590,093 $ 9,590,093 $ - $ - $ - Negotiable certificates of deposit 2,245,470 119,986 528,680 1,207,411 389,393 U.S. Treasury securities 102,461 102,461
Money market funds 756,326 756,326
Total $ 12,694,350 $ 10,466,405 $ 528,680 $ 1,309,872 $ 389,393 25-60 Months 60 Months
Carrying More than
Amount
12 Months
Or Less Months
Remaining Maturity (in Months)
13-24
C. Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by the California Government Code, and the actual rating as of fiscal year end for each investment type.

Investment Type
LAIF $ 9,590,093 N/A $ - $ - $ 9,590,093 Negotiable certificates of deposit 2,245,470 N/A 2,245,470 U.S. Treasury securities 102,461 N/A 102,461
Money market funds 756,326 N/A 756,326
Total $ 12,694,350 $ 102,461 $ $ 12,591,889 - Minimum
From Rating as of Fiscal Year End
AA
Exempt
Amount Rating Disclosure
Carrying Legal
Not Rated

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
48 NOTE 2 – CASH AND INVESTMENTS (Continued)
D. 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 that stipulated by the California Government Code. There are no investments in any one issuer that represents 5% or more of the total City’s investments.

E. Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits, other than the following provision for deposits: The California Government Code requires that a financial institution secure deposits made by State or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under State law (unless so waived by the governmental unit). The fair value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies. California law also allows financial institutions to secure the City’s deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits.

None of the City’s deposits with financial institutions in excess of the Federal Depository Insurance Corporation’s limits were held in uncollateralized accounts.

The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker-dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for investments. With respect to investments, custodial credit risk generally applies only to direct investments in marketable securities. Custodial credit risk does not apply to a local government’s indirect investment in securities through the use of mutual funds or governmental investment pools (such as LAIF).

F. Investment in State Investment Pool
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by the California Government Code under the oversight of the Treasurer of the State of California. The fair value of the City’s investment in this pool is reported in the accompanying basic financial statements at the amounts based upon the City’s pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
49 NOTE 3 – CAPITAL ASSETS
Capital assets activity for the fiscal year ended June 30, 2025, was as follows:

Deletions and
Governmental Activities
Nondepreciable capital assets:

Land $ 2,639,835 $ $ - $ 2,639,835 - Construction in progress 1,360,391 2,574,912 (3,559,889) 375,414 Total nondepreciable capital assets $ 4,000,226 $ 2,574,912 $ (3,559,889) $ 3,015,249 Depreciable capital assets:

Buildings and improvements $ 9,196,029 $ 1,007,333 $ 3,559,889 $ 13,763,251 Property and equipment 732,776 120,448 853,224 Infrastructure 24,401,347 24,401,347
Total depreciable capital assets 34,330,152 1,127,781 3,559,889 39,017,822 Less accumulated depreciation
Buildings and improvements 2,097,844 325,120 2,422,964
Property and equipment 704,287 45,017 749,304
Infrastructure 7,851,210 547,200 8,398,410
Total accumulated depreciation 10,653,341 917,337 11,570,678 Net depreciable capital assets $ 23,676,811 $ 210,444 $ 3,559,889 $ 27,447,144 Net capital assets $ 27,677,037 $ 2,785,356 $ $ 30,462,393 - Business-Type Activities Nondepreciable capital assets:

Land $ 247,691 $ - $ - $ 247,691
Construction in progress 1,576,329 518,356 (2,094,685) Total nondepreciable capital assets $ 1,824,020 $ 518,356 $ (2,094,685) $ 247,691 Depreciable capital assets:

Buildings and improvements $ 582,135 $ $ - $ 582,135 - Property and equipment 1,115,885 264,598 1,380,483 Infrastructure 18,283,405 345,393 2,094,685 20,723,483
Total depreciable capital assets 19,981,425 609,991 2,094,685 22,686,101 Less accumulated depreciation
Buildings and improvements 569,011 2,921 571,932
Property and equipment 739,779 76,321 816,100
Infrastructure 10,347,931 652,387 11,000,318
Total accumulated depreciation 11,656,721 731,629 12,388,350 Net depreciable capital assets $ 8,324,704 $ (121,638) $ 2,094,685 $ 10,297,751 Net capital assets $ 10,148,724 $ 396,718 $ $ 10,545,442 - Additions Transfers
Balance Balance
July 1, 2024 June 30, 2025
Depreciation expense was charged to function and programs based on their usage of the related assets. The amounts allocated to each function or program as shown on the following page:

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
50 NOTE 3 – CAPITAL ASSETS (Continued)
Governmental Activities:

General government $ 102,174
Community development 293,363
Cultural and leisure 80,070
Public safety 8,100
Public works 433,630
Total depreciation expense-governmental activities $ 917,337 Business-type Activities:

Water $ 375,611
Wastewater 356,018
Total depreciation expense-business-type activities $ 731,629 NOTE 4 – RIGHT TO USE LEASE ASSET
Right to use leased assets
Leased equipment $ 78,015 $ $ 11,283 - $ 66,732
Total right to use leased assets 78,015 11,283 66,732
Less accumulated amortization for:

Leased equipment 43,849 15,732 11,283 48,298
Total accumulated amortization 43,849 15,732 11,283 48,298 Right to use leased assets, net $ 34,166 $ (15,732) $ $ 18,434 - Balance Balance
July 1, 2024 Additions Reductions June 30, 2025
NOTE 5 – LEASE RECEIVABLE
In July 2015, the City entered into a lease for the Post Office. Under the lease, the United States Postal Service agreed to pay the City $5,000 per month through June 2026. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 3% which is the implicit rate used for the agreement. In fiscal year 2025, the City recognized $55,720 of lease revenue and $2,563 of interest revenue under the lease.

In March of 2022, the City entered into a lease for 202 Dairyland Road. Under the lease, SYV Horseback Rides LLC agreed to pay the City $3,500 per month with annual 3% increases on January 1st of each year through March 2028. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 3%. In fiscal year 2025, the City recognized $41,300 of lease revenue and $4,284 of interest revenue under the lease.

In March of 2022, the City entered into a lease for the Zaca Golf Course. Under the lease Mike Brown agreed to pay the City $1,250 per month through February 2027. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 3% which is the implicit rate used for the agreement. In fiscal year 2025, the City recognized $13,913 of lease revenue and $926 of interest revenue under the lease.

In April of 2022, the City entered into a lease for the 960 square feet of property at the Buellton Reservoir. Under the lease New Cingular Wireless PCS, LLC (AT&T) agreed to pay the City $2,500 per month starting May 1, 2022 through April 2027. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 3% which is the implicit rate used for the agreement. In fiscal year 2025, the City recognized $27,896 of lease revenue and $1,992 of interest revenue under the lease.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
51 NOTE 6 – LONG-TERM LIABILITIES
A. Compensated Absences
Governmental Accounting Standards Board Statements No. 16 and 101 identify certain items that should be accrued as a liability as benefits are earned by employees, but only to the extent it is probable that the employer will compensate the employees for the benefits through cash payments conditioned on the employee’s termination or retirement.

The City’s employees accumulate earned but unused benefits, which can be converted to cash at termination of employment. The vested benefits payable in accordance with various collective bargaining agreements, at June 30, 2025, total $176,046 for governmental activities and $95,535 for business-type activities.

B. Notes Payable – Direct Borrowing
On December 18, 2020, the City entered into a note payable agreement with Webster Bank. The note proceeds were used to purchase equipment and install City’s solar, LED lighting, and other energy improvement projects. The amount of the note was $4,147,947 and the agreement was for annual payments for 20 years at 2.45% interest. The note is secured by the equipment and in the event of a default, all remaining payments become due and the lender has the right to retake possession of the equipment. Annual payments are due each fiscal year and began in January 2022. Future payments are as follows:

Fiscal Year Total
Ending June 30
2026 $ 115,222 $ 93,280 $ 208,502
2027 128,239 90,457 218,696
2028 107,989 87,315 195,304
2029 155,673 84,669 240,342
2030 170,974 80,855 251,829
2031-2035 1,081,302 333,202 1,414,504
2036-2040 1,638,350 176,445 1,814,795
2041 409,581 10,034 419,615
Total $ 3,807,330 $ 956,257 $ 4,763,587
Principal Interest Payments
In April 2024, the City entered into a note payable agreement with Caterpillar Financial Services Corporation.

The note proceeds were used to purchase a 2024 Caterpillar Backhoe Loader. The amount of the note was $168,446 and the agreement was for sixty monthly payments commencing July 2024 at 6.98% interest. The note is secured by the equipment and in the event of a default, all remaining payments become due and the lender has the right to retake possession of the equipment. The liability and payments are split evenly between the General, Water, and Wastewater funds. Future monthly payments are as follows:

Fiscal Year Total
Ending June 30
2026 $ 31,369 $ 8,622 $ 39,991
2027 33,630 6,361 39,991
2028 36,055 3,936 39,991
2029 35,415 1,337 36,752
Total $ 136,469 $ 20,256 $ 156,725
Principal Interest Payments
In December 2024, the City entered into a note payable agreement with Caterpillar Financial Services Corporation. The note proceeds were used to purchase a 2024 Massey Ferguson Tractor. The amount of the note was $106,958 and the agreement was for sixty monthly payments commencing February 2025 at 5.49% interest. The note is secured by the equipment and in the event of a default, all remaining payments become due and the lender has the right to retake possession of the equipment. The liability and payments are split evenly between the General, Water, and Wastewater funds. Future monthly payments are as shown on the following page:

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
52 NOTE 6 – LONG-TERM LIABILITIES (Continued)
B. Notes Payable – Direct Borrowing (Continued)
Fiscal Year Total
Ending June 30
2026 $ 19,500 $ 5,010 $ 24,510
2027 20,598 3,912 24,510
2028 21,758 2,752 24,510
2029 22,983 1,527 24,510
2030 13,996 303 14,299
Total $ 98,835 $ 13,504 $ 112,339
Principal Interest Payments
C. Other Post-Employment Liability
In accordance with GASB Statement No. 75, the City is required to measure and report liabilities associated with OPEB. The City’s estimated OPEB liability on June 30, 2025 was $2,807,279. For governmental funds, these expenses are incurred by the General Fund. See Note 11 for further detail.

D. Net Pension Liability
In accordance with GASB Statement No. 68, the City is required to measure and report liabilities associated with its pension liability. Pension expense in charged to functions and programs based on their proportionate share of total payroll cost. The City’s estimated net pension liability on June 30, 2025, was $1,171,500. For governmental funds, these expenses are typically incurred by the General Fund. See Note 10 for further detail.

E. Lease Liabilities
The City has entered into agreements to lease certain equipment. The lease agreements qualify as other than short-term leases under GASB Statement No. 87 and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception.

An agreement with MailFinance, Inc. was commenced on December 9, 2019, to lease a mail machine and inserter that requires 21 quarterly payments of $921. There are no variable payment components of the lease. The lease liability is measured at a discount rate of 3%, which is the implicit rate used for the lease agreement. As a result of the lease, the City recorded as of July 1, 2021 a right to use asset with a net book value of $0 at June 30, 2025 as the lease was paid in full. The right to use asset is discussed in more detail in Note 4.

An agreement with U.S. Bank Equipment Finance was commenced on October 20, 2020, to lease a scanner for the Planning Department that requires 60 monthly payments of $385. There are no variable payment components of the lease. The lease liability is measured at a discount rate of 3%, which is the implicit rate used for the lease agreement. As a result of the lease, the City recorded as of July 1, 2021 a right to use asset with a net book value of $1,083 at June 30, 2025. The right to use asset is discussed in more detail in Note 4.

An agreement with Coastal Copy, Inc was commenced on January 7, 2022, to lease Kyocera Copiers that requires 60 monthly payments of $740. There are no variable payment components of the lease but there is a monthly supplies and maintenance payment of $442. The lease liability is measured at a discount rate of 3%, which is the implicit rate used for the lease agreement. As a result of the lease, the City recorded a right to use asset with a net book value of $12,355 at June 30, 2025. The right to use asset is discussed in more detail in Note 4.

An agreement with Coastal Copy, Inc was commenced on January 17, 2024, to lease a Kyocera Copier for the Recreation Department that requires 60 monthly payments of $128.22. There are no variable payment components of the lease. The lease liability is measured at a discount rate of 3%, which is the implicit rate used for the lease agreement. As a result of the lease, the City recorded a right to use asset with a net book value of $4,995 at June 30, 2025. The right to use asset is discussed in more detail in Note 4.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
53 NOTE 6 – LONG-TERM LIABILITIES (Continued)
E. Lease Liabilities (Continued)
Future lease payments are as follows:

Fiscal Year Principal Interest
Ending June 30 Payments Payments Total
2026 11,162$ 413$ 11,575$
2027 5,848 130 5,978
2028 1,491 47 1,538
2029 763 7 770
19,264$ 597$ 19,861$
NOTE 7 – CHANGES IN LONG-TERM LIABILITIES
The following is a summary of long-term liability activities for the fiscal year ended June 30, 2025:

Governmental activities:

Compensated absences $ 153,209 $ 22,837 $ $ 176,046 - $ 59,938 Note payable - direct borrowing 782,047 91,801 33,950 839,898 40,004 Lease liabilities 35,313 16,049 19,264 11,162
OPEB liability 1,930,649 19,154 1,949,803 120,928
Net pension liability 1,062,566 226,072 836,494 Total $ 3,963,784 $ 133,792 $ 276,071 $ 3,821,505 $ 232,032 Business-type activities:

Compensated absences $ 80,322 $ 15,213 $ $ 95,535 - $ 19,107 Note payable - direct borrowing 3,128,186 183,602 109,052 3,202,736 126,087 OPEB liability 846,952 10,524 857,476 53,181
Net pension liability 425,544 90,538 335,006
Total $ 4,481,004 $ 209,339 $ 199,590 $ 4,490,753 $ 198,375 Balance
Deletions June 30, 2025
Due Within
June 30, 2024 Additions One Year
Balance
NOTE 8 – INTERFUND TRANSACTIONS
Interfund transactions are reported as either loans, services provided, reimbursements, or transfers. Loans are reported as interfund receivables and payables, as appropriate, and are subject to elimination upon consolidation.

Services provided, deemed to be at market or near market rates, are treated as revenues and expenditures/expenses.

Reimbursements occur when one fund incurs a cost, charges the appropriate benefiting fund, and reduces its related cost as a reimbursement. All other interfund transactions are treated as transfers. Transfers among governmental funds are netted as part of the reconciliation to the government-wide financial statements.

A. Due From/To Other Funds
Due to and from balances result from the time lag between the dates that interfund goods and services are provided or reimbursable expenditures occur, transactions are recorded in the accounting system, and payments between funds are made.

Individual fund interfund receivable and payable balances at June 30, 2025, are as follows:

Major Governmental Funds:

General Fund $ 135,807 $ -
Nonmajor Governmental Funds:

Transportation Planning Special Revenue Fund 135,807
Total $ 135,807 $ 135,807
Fund Due From Due To

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
54 NOTE 8 – INTERFUND TRANSACTIONS (Continued)
B. Interfund Transfers
Interfund transfers consist of transfers from funds receiving revenue to funds through which the resources are to be expended.

Interfund transfers for the 2024-2025 fiscal year are as follows:

Major Governmental Funds:

General Fund $ - $ 2,978,211
Capital Improvement Project Fund 3,582,245
Nonmajor Governmental Funds:

ARPA 268,036
Measure A Fund 273,815
Gas Tax Fund 360,219
Local Transportation Fund 30,000
Major Proprietary Funds:

Water Fund 268,036
$ 3,880,281 $ 3,880,281
Fund Transfers In Transfers Out
NOTE 9 – RISK MANAGEMENT
A. Description of Self-Insurance Pool Pursuant to Joint Powers Agreement The City of Buellton is a member of the CALIFORNIA JOINT POWERS INSURANCE AUTHORITY (Authority). The Authority is composed of 126 California public entities and is organized under a joint powers agreement pursuant to California Government Code §6500 et seq. The purpose of the Authority is to arrange and administer programs for the pooling of self-insured losses, to purchase excess insurance or reinsurance, and to arrange for group purchased insurance for property and other lines of coverage. The California JPIA began covering claims of its members in 1978. Each member government has an elected official as its representative on the Board of Directors. The Board operates through a nine-member Executive Committee.

B. Primary Self-Insurance Programs of the Authority
Each member pays an annual contribution at the beginning of the coverage period. The total funding requirement for primary self-insurance programs is based on an actuarial analysis. Costs are allocated to individual agencies based on payroll and claims history, relative to other members of the risk-sharing pool.

Primary Liability Program - Claims are pooled separately between police and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $100,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $100,000 to $500,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the second layer. (4) Incurred costs from $500,000 to $50 million, are distributed based on the outcome of cost allocation within the first and second loss layers.

The overall coverage limit for each member, including all layers of coverage, is $50 million per occurrence.

Subsidence losses also have a $50 million per occurrence limit. The coverage structure is composed of a combination of pooled self-insurance, reinsurance, and excess insurance. Additional information concerning the coverage structure is available on the Authority’s website: https://cjpia.org/coverage/risk-sharing-pools/.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
55 NOTE 9 – RISK MANAGEMENT
B. Primary Self-Insurance Programs of the Authority (Continued) Primary Workers’ Compensation Program - Claims are pooled separately between public safety (police and fire) and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $75,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $75,000 to $200,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the second layer. (4) Incurred costs from $200,000 to statutory limits are distributed based on the outcome of cost allocation within the first and second loss layers.

For 2024-25 the Authority’s pooled retention is $1 million per occurrence, with reinsurance to statutory limits under California Workers’ Compensation Law. Employer’s Liability losses are pooled among members to $1 million. Coverage from $1 million to $5 million is purchased through reinsurance policies, and Employer’s Liability losses from $5 million to $10 million are pooled among members.

C. Purchased Insurance
Pollution Legal Liability Insurance - The City of Buellton participates in the pollution legal liability insurance program which is available through the Authority. The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned by the City of Buellton. Coverage is on a claims-made basis. There is a $250,000 deductible. The Authority has an aggregate limit of $20 million.

Property Insurance - The City of Buellton participates in the all-risk property protection program of the Authority. This insurance protection is underwritten by several insurance companies. City of Buellton property is currently insured according to a schedule of covered property submitted by the City of Buellton to the Authority. City of Buellton property currently has all-risk property insurance protection in the amount of $21,408,719. There is a $10,000 deductible per occurrence except for non-emergency vehicle insurance which has a $2,500 deductible.

Earthquake and Flood Insurance - The City of Buellton purchases earthquake and flood insurance on a portion of its property. The earthquake insurance is part of the property protection insurance program of the Authority. City of Buellton property currently has earthquake protection in the amount of $13,429,537. There is a deductible of 5% per unit of value with a minimum deductible of $100,000.

Crime Insurance - The City of Buellton purchases crime insurance coverage in the amount of $1,000,000 with a $2,500 deductible. The fidelity coverage is provided through the Authority.

Special Event Tenant User Liability Insurance - The City of Buellton further protects against liability damages by requiring tenant users of certain property to purchase low-cost tenant user liability insurance for certain activities on agency property. The insurance premium is paid by the tenant user and is paid to the City of Buellton according to a schedule. The City of Buellton then pays for the insurance. The insurance is facilitated by the Authority.

D. Adequacy of Protection
During the past three fiscal years, none of the above programs of protection experienced settlements or judgments that exceeded pooled or insured coverage. There were also no significant reductions in pooled or insured liability coverage in 2024-25.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
56 NOTE 10 – PENSION PLAN
A. General Information about the Pension Plans
Plan Descriptions
All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (the Plan), administered by the California Public Employees’ Retirement System (CalPERS). The Plan’s benefit provisions are established by statute. The Plan is included as a pension trust fund in the CalPERS’ Annual Comprehensive Financial Report, which is available online at www.calpers.ca.gov.

The Plan consists of a miscellaneous pool and a safety pool (referred to as “risk pools”), which are comprised of individual employer miscellaneous and safety rate plans, respectively, including those of the City of Buellton. The City of Buellton’s employer rate plans in the miscellaneous risk pool include the Miscellaneous plan (Miscellaneous) and the PEPRA Miscellaneous plan (PEPRA Misc.). The City of Buellton does not have any rate plans in the safety risk pool.

Benefits Provided
The Plan 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. Classic members and PEPRA Safety members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. PEPRA Miscellaneous members with five years of total service are eligible to retire at age 52 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after five years of service. The death benefit is the Basic Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.

The Plans’ provisions and benefits in effect at June 30, 2025, are summarized as shown below:

Hire Date
Prior to
January 1, 2013
On or after
January 1, 2013
Benefit formula 2% @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 50-63 52-67
Monthly benefits, as a % of eligible compensation 1.426% to 2.418% 1.0% to 2.5% Required employee contribution rates 7.00% 8.25%
Required employer contribution rates 13.31% + $46,850 8.18% + $2,994 Miscellaneous
Contributions
Section 20814(c) of the California Public Employees’ Retirement Law 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. Funding contributions for the Plan is determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

Contributions to the pension plan from the City were $410,704 for the fiscal year ended June 30, 2025.

B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions At June 30, 2025, the City reported a liability of $1,171,500 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2024, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2023 rolled forward using standard update procedures.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
57 NOTE 10 – PENSION PLAN (Continued)
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plan relative to the projected contributions of all Pension Plan participants, actuarially determined. The City’s proportion share of net pension liability for miscellaneous plans as of June 30, 2024, and 2023 was as follows:

Miscellaneous
Proportion - June 30, 2022 0.02976%
Proportion - June 30, 2023 0.02422%
Change - Increase/(Decrease) -0.00554%
For the fiscal year ended June 30, 2025, the City recognized pension expense of $456,201. Pension expense represents the change in the net pension liability during the measurement period, adjusted for actual contributions and the deferred recognition of changes in investment gain/loss, actuarial gain/loss, actuarial assumptions or method, and plan benefits.

At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows
of Resources
Deferred Inflows of
Resources
Differences between expected and actual experience $ 101,287 $ 3,952 Changes in assumptions 30,110
Net difference between projected and actual earnings on retirement plan investments 67,442
Differences between City contributions and proportionate share of contributions 719,954 64,637
Adjustment due to differences in proportion 17,573 538,029 City contributions subsequent to the measurement date 410,704 $ 1,347,070 $ 606,618
Deferred outflows of resources and deferred inflows of resources above represent the unamortized portion of changes to net pension liability, to be recognized in future periods in a systematic and rational manner. $410,704 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the subsequent fiscal year ending June 30, 2026.

Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in the pension expenses as follows:
$ 329,748
2028
2029
Fiscal year Ending June 30, Amount
2026
2027
$ 156,909
215,863
(19,914)
(23,110)

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
58 NOTE 10 – PENSION PLAN (Continued)
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
Actuarial Assumptions
The total pension liability in the June 30, 2023 actuarial valuation was determined using the following actuarial assumptions:

Miscellaneous
Valuation Date June 30, 2023
Measurement Date June 30, 2024
Actuarial Cost Method Entry-Age Normal Cost Method
Actuarial Assumptions:

Discount Rate 6.90%
Inflation 2.30%
Salary Increases Varies by Entry Age and Service
Mortality Derived using CalPERS' Membership
Data for all Funds (1)
Post Retirement Benefit The lesser of contract COLA or 2.30% until Increase Purchasing Power Protection Allowance floor
on purchasing power applies, 2.30% thereafter
(1) The mortality table used was developed based on CalPERS' specific data. The rates incorporate Generational Mortality to capture ongoing mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries.

For more details, please refer to the 2021 experience study report that can be found on the CalPERS' website.

Long-term Expected Rate of Return
In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated and combined with risk estimates, are used to project compound (geometric) returns over the long term. The discount rate used to discount liabilities was informed by the long-term projected portfolio return. The expected real rates of return by asset class are as follows:

Asset Class
New Strategic
Allocation Real Return (a,b)
Global Equity - cap-weighted 30.0% 4.54%
Global Equity - non-cap-weighted 12.0% 3.84%
Private Equity 13.0% 7.28%
Treasury 5.0% 0.27%
Mortgage-backed Securities 5.0% 0.50%
Investment Grade Corporations 10.0% 1.56%
High Yield 5.0% 2.27%
Emerging Market Debt 5.0% 2.48%
Private Debt 5.0% 3.57%
Real Assets 15.0% 3.21%
Leverage -5.0% -0.59%
Total 100.0%
(a) An expected inflation of 2.30% was used for this period. (b) Figures are based on the 2021 Asset Liability Management Study.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
59 NOTE 10 – PENSION PLAN (Continued)
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions (Continued)
Discount Rate
The discount rate used to measure the total pension liability was 6.90%. 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.

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in Discount Rate The following represents the City’s proportionate share of the net pension liability calculated using the discount rate of

6.90 percent, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower (5.90 percent) or one percentage point higher (7.90 percent) than the current rate:
1% Decrease Current Discount Rate 1% Increase

5.90% 6.90% 7.90%
City's proportionate share of
net pension plan liability $ 2,918,855 $ 1,171,500 $ (266,830) Pension Plan Fiduciary Net Position
Detailed information about the pension plan’s fiduciary net position is available in the separately issued CalPERS’ financial reports.

C. Payable to the Pension Plan
At June 30, 2025, the City had no amount outstanding for contributions to the pension plan required for the fiscal year ended June 30, 2025.

NOTE 11 – POST-EMPLOYMENT HEALTH CARE BENEFITS (OPEB)
A. Plan Description
Medical coverage is provided through a single-employer CalPERS Plan under the Public Employees' Medical and Hospital Care Act (PEMHCA), also referred to as PERS Health. The City contributes up to $1,200 per month on behalf of each active employee and covered dependents. The employee is responsible for excess, if any of the total PEMHCA premium over $1,200 per month. The City offers the same medical plans to its retirees as to its active employees, with the general exception that upon reaching age 65 and becoming eligible for Medicare, the retiree must join one of the Medicare Supplement coverages offered under PEMHCA. Employees become eligible to retire and receive City-paid healthcare benefits upon attainment of age 50 and 5 years of covered PERS service, or by attaining qualifying disability retirement status. The City's contribution on behalf of retirees is the same as for active employees - 100% of PEMHCA premium for retiree and covered dependents, but not to exceed $1,200 per month. Benefits continue for the lifetime of the retiree with survivor benefits extended to surviving spouses. Membership of the plan consisted of nine retirees currently receiving benefits. The City pays a 0.27% of premium administrative fee on behalf of employees and retirees.

The plan is not administered through a trust and therefore no assets are accumulated in a GASB-compliant trust.

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
60 NOTE 11 – POST-EMPLOYMENT HEALTH CARE BENEFITS (OPEB) (Continued) B. Employees Covered
As of the June 30, 2023 actuarial valuation, the following current and former employees were covered by the benefit terms under the City’s Plan:

Active plan members 19
Inactive plan members or beneficiaries currently receiving benefits 17 Total 36

C. Contributions
The City currently finances benefits on a pay-as-you-go basis.

D. Total OPEB Liability
The City's OPEB Liability was measured as of June 30, 2024 and the total OPEB liability used to calculate the OPEB Liability was determined by an actuarial valuation as of June 30, 2023.

Actuarial assumptions. The total OPEB liability was determined using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise specified:

Salary increases 2.80%
Inflation 2.30%
Healthcare cost trend rate 6.80% in the first year trending down to 4.14% over 51 years Pre-retirement mortality rates were based on the CalPERS' tables.

Actuarial assumptions used in the June 30, 2023 valuation were based on a review of plan experience, established pattern of practice an CalPERS’ experience studies.

Discount rate. GASB Statement No. 75 requires a discount rate that reflects the following:
a) The long-term expected rate of return on OPEB plan investments — to the extent that the OPEB plan's fiduciary net position (if any) is projected to be sufficient to make projected benefit payments and assets are expected to be invested using a strategy to achieve that return; b) A yield or index rate for 20-year, tax-exempt general obligation municipal bonds with an average rating of AA/Aa or higher — to the extent that the conditions in (a) are not met.

To determine a resulting single (blended) rate, the amount of the plan's projected fiduciary net position (if any) and the amount of projected benefit payments is compared in each period of projected benefit payments. The discount rate used to measure the City's total OPEB liability is based on these requirements and the following information:

Municipal Bond
20 Year High Grade
Reporting Date Measurement Date Rate Index Discount Rate June 30, 2025 June 30, 2024 4.09% 4.09%
June 30, 2024 June 30, 2023 3.86% 3.86%

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
61 NOTE 11 – POST-EMPLOYMENT HEALTH CARE BENEFITS (OPEB) (Continued) Changes in the OPEB Liability
Total OPEB
Liability
Balance at June 30, 2024
(Valuation Date June 30, 2023) $ 2,777,601
Changes recognized for the measurement period:

Service cost 170,222
Interest 110,052
Chenges of benefit terms
Difference between expected and actual experience 10,954 Changes of assumptions (68,100) Implicit subsidy credit (41,393)
Benefit payments (152,057)
Net Changes 29,678
Balance at June 30, 2025 $ 2,807,279
(Measurement Date June 30, 2024)
Sensitivity of the OPEB liability to changes in the discount rate. The following presents the OPEB liability, as well as what the OPEB liability would be if it were calculated using a discount rate that is 1 percentage point lower (3.09 percent) or 1 percentage-point higher (5.09 percent) than the current discount rate:
1% Decrease Discount Rate 1% Increase

3.09% 4.09% 5.09%
OPEB Liability $ 3,123,933 $ 2,807,279 $ 2,539,683
Sensitivity of the OPEB liability to changes in the healthcare cost trend rates. The following presents the OPEB liability, as well as what the OPEB liability would be if it were calculated using healthcare cost trend rates that are 1- percentage-point lower (5.80 percent decreasing to 3.14 percent) or 1-percentage-point higher (7.80 percent decreasing to 5.14 percent) than the current healthcare cost trend rates:
1% Decrease Trend Rate 1% Increase
(5.80% (6.80% (7.80%
decreasing to decreasing to decreasing to

3.14%) 4.14%) 5.14%)
OPEB Liability $ 2,597,442 $ 2,807,279 $ 2,992,459
OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the fiscal year ended June 30, 2025, the City recognized OPEB expense of $178,677. As of June 30, 2025, the City reported deferred outflows and deferred inflows of resources related to OPEB from the following sources:

Deferred Outflows Deferred Inflows
of Resources of Resources
Changes of assumptions $ 56,454 $ 519,692
Difference between expected and actual experience 50,497 158,293 OPEB contributions subsequent to measurement date 174,109 $ 281,060 $ 677,985

CITY OF BUELLTON

NOTES TO THE BASIC FINANCIAL STATEMENTS
JUNE 30, 2025
62 NOTE 11 – POST-EMPLOYMENT HEALTH CARE BENEFITS (OPEB) (Continued) OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB (Continued) $174,109 reported as deferred outflows of resources related to OPEB resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the OPEB liability in the subsequent year ending June 30, 2026. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in the OPEB expenses as follows:

Amount
2026 $ (145,833)
2027 (215,382)
2028 (139,131)
2029 (65,492)
2030 (5,196)
$ (571,034)
Fiscal year ending June 30,
NOTE 12 – CONTINGENCIES, COMMITMENTS, AND SUBSEQUENT EVENTS A. Legal
The City is a party to claims and lawsuits arising in the ordinary course of business. The City’s management and legal counsel are of the opinion that the ultimate liability, if any, arising from these claims will not have material adverse impact on the financial position of the City.

B. Grant Programs
The City participates in a number of federal and state assisted grant programs. These programs are subject to program compliance audits by the grantors. The amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time although the City expects such amounts, if any, to be immaterial.

C. Construction and Other Significant Commitments
Listed below are the projects for uncompleted contracts outstanding as of June 30, 2025.

Combined 2023/24 and 2024/25 Road Maintenance Projects with JF Will Construction $ 1,430,008
Library/Field Parking Lot Project with V. Lopez Jr. & Sons 2,469,695 D. Subsequent Events
Management has evaluated subsequent events through February 24, 2026, which is the date the financial statements were available to be issued. It was determined that no events occurred during this period that would require recognition or disclosure in the financial statements
NOTE 13 – JOINT OPERATING AGREEMENTS
Water operations – The Central Coast Water Authority (CCWA) is a Joint Power Authority authorized to finance, develop, operate, and maintain the Mission Hills and Santa Ynez extension to the Coastal Branch Phase II Extension of the California aqueduct of the State water project. Each member has entered into a water supply agreement with the Authority to pay their proportionate share of the project costs from local water revenues. These costs are reported in the Water Fund as operations and maintenance.

NOTE 14 – DEFICIT FUND BALANCE
The following funds reported a deficit fund balance at June 30, 2025:

Nonmajor Fund:

Transportation Planning Special Revenue Fund $ 130,445

REQUIRED SUPPLEMENTAL INFORMATION SECTION

CITY OF BUELLTON

GENERAL FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2025
Final Positive (Negative)
Revenues:

Taxes $ 9,746,953 $ 10,046,241 $ 10,266,245 $ 220,004
Licenses, permits, and fees 10,125 10,125 45,600 35,475 Intergovernmental 816,274 1,077,160 987,698 (89,462)
Charges for services 316,705 305,171 313,377 8,206
Fines and forfeitures 5,300 5,300 30,487 25,187
Use of money and property 78,000 470,000 598,320 128,320 Other revenues 8,950 17,500 24,851 7,351
Total revenues 10,982,307 11,931,497 12,266,578 335,081 Expenditures:

Current:

General government 2,481,093 2,795,787 2,690,968 104,819 Community development 776,599 976,415 736,002 240,413
Cultural and leisure 969,491 1,026,225 891,013 135,212
Public safety 2,860,557 3,256,180 3,251,306 4,874
Public works 1,906,696 2,298,845 1,976,046 322,799
Capital outlay 48,000 91,050 120,448 (29,398)
Debt Service:

Principal 20,580 20,580 49,999 (29,419)
Interest 19,161 19,161 24,465 (5,304)
Total expenditures 9,082,177 10,484,243 9,740,247 743,996 Excess of revenues
over (under) expenditures 1,900,130 1,447,254 2,526,331 1,079,077 Other financing sources (uses):

Procceds from the issuance of notes payable 91,801 91,801 Transfers out (1,035,535) (6,781,797) (2,978,211) 3,803,586 Total other financing sources (uses) (1,035,535) (6,781,797) (2,886,410) 3,895,387 Net change in fund balance 864,595 (5,334,543) (360,079) 4,974,464 Fund balance - July 1 15,429,136 15,429,136 15,429,136
Fund balance - June 30 $ 16,293,731 $ 10,094,593 $ 15,069,057 $ 4,974,464 See Note to the Required Supplementary Information - Budgetary Comparison Schedules. 63 Budgeted Amounts
Actual Amounts
Variance with
Final Budget
Original

CITY OF BUELLTON

HOUSING FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2025
Final Positive (Negative)
Revenues:

Charges for services $ - $ - $ 328 $ 328
Use of money and property 5,800 5,800 317 (5,483)
Total revenues 5,800 5,800 645 (5,155)
Expenditures:

Community development 3,000 3,000 1,300 1,700
Total expenditures 3,000 3,000 1,300 1,700
Excess of revenues over
(under) expenditures 2,800 2,800 (655) (3,455)
Net change in fund balance 2,800 2,800 (655) (3,455)
Fund balance - July 1 11,517 11,517 11,517
Fund balance - June 30 $ 14,317 $ 14,317 $ 10,862 $ (3,455) See Note to the Required Supplementary Information - Budgetary Comparison Schedules.

Budgeted Amounts Variance with
Final Budget
Original Actual Amounts
64

CITY OF BUELLTON
NOTE TO THE REQUIRED SUPPLEMENTARY INFORMATION – BUDGETARY COMPARISON SCHEDULES FOR THE FISCAL YEAR ENDED JUNE 30, 2025
NOTE 1 – BUDGETARY BASIS OF ACCOUNTING
The City prepares and adopts a two-year budget, including a Capital Improvement Budget. City Council approves the biennial budget document by resolution. The budget serves as the City’s legal spending policy. The second year of the budget is updated and adopted the following year by resolution. The City’s budget is prepared on the modified accrual basis of accounting, consistent with generally accepted accounting principles (GAAP).
65

CITY OF BUELLTON

SCHEDULE OF PROPORTIONATE SHARE OF NET PENSION LIABILITY Last 10 Years
As of June 30, 2025
The following table provides required supplementary information regarding the City's Pension Plan. 2025 2024 2023 2022 2021
Proportion of the net pension liability 0.00966% 0.01193% 0.02500% 0.02316% 0.02216% Proportionate share of the net pension liability $ 1,171,500 $ 1,488,110 $ 2,888,246 $ 1,252,299 $ 2,411,265 Covered payroll $ 2,088,289 $ 1,875,053 $ 1,767,324 $ 1,647,755 $ 1,594,414 Proportionate share of the net pension liability
as a percentage of covered payroll 56.10% 79.36% 163.42% 76.00% 151.23% Plan's total pension liability $ 55,320,956,562 $ 52,441,984,274 $ 49,525,975,138 $ 46,174,942,264 $ 43,702,930,887 Plan's fiduciary net position $ 43,193,516,089 $ 39,966,633,692 $ 37,975,170,163 $ 40,766,653,876 $ 32,822,501,335 Plan fiduciary net position as a percentage
of the total pension liability 78.08% 76.21% 76.68% 88.29% 75.10% 2020 2019 2018 2017 2016
Proportion of the net pension liability 0.02201% 0.02182% 0.02171% 0.02131% 0.02029% Proportionate share of the net pension liability $ 2,255,555 $ 2,102,906 $ 2,153,367 $ 1,844,092 1,392,818 Covered payroll $ 1,465,155 $ 1,422,177 $ 1,472,850 $ 1,313,499 1,151,073 Proportionate share of the net pension liability
as a percentage of covered payroll 153.95% 147.87% 146.20% 140.40% 121.00% Plan's total pension liability $ 41,426,453,489 $ 38,944,855,364 $ 37,161,348,332 $ 33,358,627,624 31,771,217,402 Plan's fiduciary net position $ 31,179,414,067 $ 29,308,589,559 $ 27,244,095,376 $ 24,705,532,291 24,907,305,871 Plan fiduciary net position as a percentage
of the total pension liability 75.26% 75.26% 73.31% 74.06% 78.40% Notes the Schedule:

No changes were noted for the fiscal year ended June 30, 2025. 66

CITY OF BUELLTON

SCHEDULE OF PENSION CONTRIBUTIONS
Last 10 Years
As of June 30, 2025
The following table provides required supplementary information regarding the City's Pension Plan. 2025 2024 2023 2022 2021
Contractually required contribution (actuarially determined) $ 410,704 $ 387,731 $ 385,447 $ 353,125 $ 311,133 Contribution in relation to the actuarially determined
contributions (410,704) (387,731) (1,974,456) (353,125) (311,133) Contribution deficiency (excess) $ - $ - $ (1,589,009) $ - $ - Covered payroll $ 2,335,105 $ 2,088,289 $ 1,875,053 $ 1,767,324 $ 1,647,755 Contributions as a percentage of covered payroll 17.59% 18.57% 105.30% 19.98% 18.88% 2020 2019 2018 2017 2016
Contractually required contribution (actuarially determined) $ 342,541 $ 219,633 $ 209,728 $ 180,244 $ 234,747 Contribution in relation to the actuarially determined
contributions (342,541) (219,633) (209,728) (180,244) (234,747) Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered payroll $ 1,594,414 $ 1,465,155 $ 1,422,177 $ 1,472,850 $ 1,313,499 Contributions as a percentage of covered payroll 21.48% 14.99% 14.75% 12.24% 17.87% Notes the Schedule:

Changes in assumptions
No changes were noted for the fiscal year ended June 30, 2025. 67

CITY OF BUELLTON

SCHEDULE OF CHANGES IN THE OPEB LIABILITY AND RELATED RATIOS Last 10 Years*
As of June 30, 2025
2025 2024 2023 2022 2021
Total OPEB Liability
Service cost $ 170,222 $ 190,888 $ 241,577 $ 169,675 $ 145,915 Interest on the total OPEB liability 110,052 105,205 63,360 67,472 75,571 Change in benefit terms 499,405
Actual and expected experience difference 10,954 (243,841) (7,439) 176,021 16,298 Changes in assumptions (68,100) (362,336) (556,072) 193,869 207,042 Implicit rate subsidy fulfilled (41,393) (24,743) (21,650) (11,550) (14,910) Benefit payments (152,057) (119,095) (113,886) (118,548) (113,114) Net change in total OPEB Liability 29,678 45,483 (394,110) 476,939 316,802 Total OPEB liability- beginning 2,777,601 2,732,118 3,126,228 2,649,289 2,332,487 Total OPEB liability- ending (a) $ 2,807,279 $ 2,777,601 $ 2,732,118 $ 3,126,228 $ 2,649,289 Covered-employee payroll $ 2,090,369 $ 1,816,600 $ 1,694,804 $ 1,613,709 $ 1,375,416 Total OPEB liability as a percentage
of covered-employee payroll 134.30% 152.90% 161.21% 193.73% 192.62% 2020 2019 2018
Total OPEB Liability
Service cost $ 162,592 $ 158,875 $ 154,435
Interest on the total OPEB liability 73,752 66,930 58,639 Actual and expected experience difference 117,480
Changes in assumptions 142,890 (17,465)
Benefit payments (77,963) (4,168) (48,966)
Net change in total OPEB Liability 418,751 204,172 164,108 Total OPEB liability- beginning 1,913,736 1,709,564 1,545,456 Total OPEB liability- ending (a) $ 2,332,487 $ 1,913,736 $ 1,709,564 Covered-employee payroll $ 1,307,324 $ 1,465,155 $ 1,425,694 Total OPEB liability as a percentage
of covered-employee payroll 178.42% 130.62% 119.91%
Notes the Schedule:

For the fiscal year ended June 30, 2025:

The discount rate was changed from 3.86% to 4.09%.

The healthcare cost trend rate changed from 7.40% to 6.80 %. *- Fiscal year 2018 was the 1st year of implementation, therefore only eight years are shown. 68 Measurement Period
Measurement Period

CITY OF BUELLTON

SCHEDULE OF OPEB CONTRIBUTIONS
Last 10 Years*
As of June 30, 2025
As of June 30, 2025, the plan is not administered through a qualified trust. Therefore there is no Actuarially Determined Contribution (ADC). Benefit payments of $174,109 were made on a pay-as-you-go basis for the fiscal year ended June 30, 2025, $193,450 were made on a pay-as-you-go basis for the fiscal year ended fiscal year ended June 30, 2024, $143,838 were made on a pay-as-you-go basis for the fiscal year ended June 30, 2023, $135,536 were made on a pay-as-you-go basis for the fiscal year ended June 30, 2022, $130,098 were made on a pay-as-you-go basis for the fiscal year ended June 30, 2021, '$128,024 were made for the fiscal year ended June 30, 2020, $73,674 in benefit payments were made for the fiscal year ended June 30, 2019, and $57,525 in benefit payments were made for the fiscal year ended June 30, 2018. *- Fiscal year 2018 was the 1st year of implementation, therefore only eight years are shown. 69

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SUPPLEMENTAL INFORMATION SECTION

CITY OF BUELLTON

CAPITAL IMPROVEMENT PROJECT FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2025
Final Budget Positive (Negative)
Expenditures:

Capital outlay $ 11,562,292 $ 3,582,245 $ 7,980,047
Total expenditures 11,562,292 3,582,245 7,980,047
Excess of revenues over
(under) expenditures (11,562,292) (3,582,245) 7,980,047 Other financing sources (uses):

Transfers in 11,562,292 3,582,245 (7,980,047)
Total other financing sources (uses) 11,562,292 3,582,245 (7,980,047) Net change in fund balance
Fund balance - July 1
Fund balance - June 30 $ - $ - $ -
71 Variance with
Final Budget
Actual Amounts

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NONMAJOR GOVERNMENTAL FUNDS

Fund Description
Non-Major Funds:

American Rescue Plan Act Fund Accounts for revenue from the American Rescue Plan Act funding the City was allocated for fiscal recovery.

Traffic Mitigation Fund Accounts for traffic congestion relief funds received for street purposes.

Gas Tax Fund Accounts for funds received and expended for street maintenance as defined in the Streets and Highways Code.

Measure A Fund Accounts for revenues and expenditures of Measure A funds.

Local Transportation Fund Accounts for revenues and expenditures used for local transportation funds.

Transportation Planning Special Revenue Fund Accounts for funds used in the planning for transportation projects restricted by other governments.
73

CITY OF BUELLTON

NONMAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEET
June 30, 2025
ASSETS
Cash and investments $ 33,455 $ 46,971 $ 531,777 $ 888,985 Accounts receivable 105,053 112,261
Interest receivable 205 3,328 6,383
Total assets $ 33,455 $ 47,176 $ 640,158 $ 1,007,629

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable $ - $ - $ 20,329 $ -
Due to other funds
Total liabilities 20,329
Fund Balances:

Restricted 33,455 47,176 619,829 1,007,629
Unassigned
Total fund balances (deficits) 33,455 47,176 619,829 1,007,629 Total liabilities and
fund balances $ 33,455 $ 47,176 $ 640,158 $ 1,007,629
Traffic
Special Revenue Funds
American Gas
Rescue Plan Act Tax
74 Mitigation
Fund Fund Fund Fund
Measure A

$ 463,090 $ (12,500) $ 1,951,778
- 22,000 239,314
1,888 11,804
$ 464,978 $ 9,500 $ 2,202,896
$ 2,000 $ 4,138 $ 26,467
135,807 135,807
2,000 139,945 162,274
462,978 2,171,067
(130,445) (130,445)
462,978 (130,445) 2,040,622
$ 464,978 $ 9,500 $ 2,202,896
Special Revenue Funds
Local Planning
Transportation
75 Fund Totals
Transportation
Fund
Special Revenue

CITY OF BUELLTON

NONMAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES For the Fiscal Year Ended June 30, 2025
Revenues:

Licenses, permits, and fees $ - $ 7,866 $ - $ -
Intergovernmental 267,173 355,125 440,294
Use of money and property 863 1,326 22,769 34,792
Total revenues 268,036 9,192 377,894 475,086
Expenditures:

Public works 136,706
Total expenditures 136,706
Excess of revenues over
(under) expenditures 268,036 9,192 241,188 475,086
Other financing sources (uses):

Transfers in
Transfers out (268,036) (360,219) (273,815)
Total other financing sources (uses) (268,036) (360,219) (273,815) Net change in fund balances 9,192 (119,031) 201,271
Fund balances (deficits) - July 1 33,455 37,984 738,860 806,358 Fund balances (deficits) - June 30 $ 33,455 $ 47,176 $ 619,829 $ 1,007,629 Special Revenue Funds
76 Fund Fund
Traffic Gas
Tax
Fund
Rescue Plan Act Mitigation
American
Fund
Measure A

$ - $ - $ 7,866
4,537 22,000 1,089,129
12,520 537 72,807
17,057 22,537 1,169,802
22,000 50,585 209,291
22,000 50,585 209,291
(4,943) (28,048) 960,511
30,000 30,000
(902,070)
30,000 (872,070)
25,057 (28,048) 88,441
437,921 (102,397) 1,952,181
$ 462,978 $ (130,445) $ 2,040,622
Special Revenue Funds
Fund
Transportation
Local
77 Transportation
Totals
Planning
Special Revenue
Fund

CITY OF BUELLTON

NONMAJOR GOVERNMENTAL FUNDS

COMBINING SCHEDULE OF REVENUES, EXPENDITURES, AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2025
Revenues
Licenses, permits, and fees $ - $ - $ - $ - $ 7,866 $ 7,866 Intergovernmental 675,743 267,173 (408,570)
Use of money and property 863 863 875 1,326 451
Total revenues 675,743 268,036 (407,707) 875 9,192 8,317 Expenditures
Public works
Total expenditures
Excess of revenues over (under) expenditures 675,743 268,036 (407,707) 875 9,192 8,317 Other financing sources (uses):

Transfers out (675,743) (268,036) 407,707
Total other financing sources (uses) (675,743) (268,036) 407,707 Net change in fund balances $ - $ - $ 875 9,192 $ 8,317 Fund balances (deficits) - July 1 33,455 37,984
Fund balances (deficits) - June 30 $ 33,455 $ 47,176
Special Revenue Funds
78 (Negative)
Positive
Budget Actual (Negative) Budget Actual
Positive
American Rescue Plan Act Fund Traffic Mitigation Fund
Variance Variance

CITY OF BUELLTON

NONMAJOR GOVERNMENTAL FUNDS

COMBINING SCHEDULE OF REVENUES, EXPENDITURES, AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2025
Revenues
Intergovernmental $ 346,223 $ 355,125 $ 8,902 $ 440,450 $ 440,294 $ (156) Use of money and property 11,000 22,769 11,769 15,000 34,792 19,792 Total revenues 357,223 377,894 20,671 455,450 475,086 19,636 Expenditures
Public works 122,000 136,706 (14,706)
Total expenditures 122,000 136,706 (14,706)
Excess of revenues over (under) expenditures 235,223 241,188 5,965 455,450 475,086 19,636 Other financing sources (uses):

Transfers out (750,416) (360,219) 390,197 (1,013,852) (273,815) 740,037 Total other financing sources (uses) (750,416) (360,219) 390,197 (1,013,852) (273,815) 740,037 Net change in fund balances $ (515,193) (119,031) $ 396,162 $ (558,402) 201,271 $ 759,673 Fund balances (deficits) - July 1 738,860 806,358
Fund balances (deficits) - June 30 $ 619,829 $ 1,007,629 Special Revenue Funds
79 Budget Actual (Negative)
Positive Positive
Gas Tax Fund Measure A Fund
Variance Variance
Budget Actual (Negative)

CITY OF BUELLTON

NONMAJOR GOVERNMENTAL FUNDS

COMBINING SCHEDULE OF REVENUES, EXPENDITURES, AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2025
Revenues
Intergovernmental $ 5,534 $ 4,537 $ (997) $ 45,000 $ 22,000 $ (23,000) Use of money and property 8,000 12,520 4,520 300 537 237 Total revenues 13,534 17,057 3,523 45,300 22,537 (22,763) Expenditures
Public works 22,000 22,000 45,000 50,585 (5,585)
Total expenditures 22,000 22,000 45,000 50,585 (5,585)
Excess of revenues over (under) expenditures (8,466) (4,943) 3,523 300 (28,048) (28,348) Other financing sources (uses):

Transfers in 58,466 30,000 (28,466)
Total other financing sources (uses) 58,466 30,000 (28,466) Net change in fund balances $ 50,000 25,057 $ (24,943) $ 300 (28,048) $ (28,348) Fund balances (deficits) - July 1 437,921 (102,397)
Fund balances (deficits) - June 30 $ 462,978 $ (130,445) 80 Variance
Special Revenue Funds
Transportation Planning Special Revenue Fund
Budget Actual (Negative) Budget Actual
Positive
Local Transportation Fund
Variance
Positive
(Negative)

CITY OF BUELLTON

NONMAJOR GOVERNMENTAL FUNDS

COMBINING SCHEDULE OF REVENUES, EXPENDITURES, AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
For the Fiscal Year Ended June 30, 2025
Revenues
Licenses, permits, and fees $ - $ 7,866 $ 7,866
Intergovernmental 1,512,950 1,089,129 (423,821)
Charges for services
Use of money and property 35,175 72,807 37,632
Total revenues 1,548,125 1,169,802 (378,323)
Expenditures
Public works 189,000 209,291 (20,291)
Total expenditures 189,000 209,291 (20,291)
Excess of revenues over (under) expenditures 1,359,125 960,511 (398,614) Other financing sources (uses):

Transfers in 58,466 30,000 (28,466)
Transfers out (2,440,011) (902,070) 1,537,941
Total other financing sources (uses) (2,381,545) (872,070) 1,509,475 Net change in fund balances $ (1,022,420) 88,441 $ 1,110,861 Fund balances (deficits) - July 1 1,952,181
Fund balances (deficits) - June 30 $ 2,040,622
Variance
(Negative)
81 Special Revenue Funds
Positive
Budget Actual
Totals

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STATISTICAL SECTION

STATISTICAL SECTION
This part of the City of Buellton's annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, footnotes, and required supplementary information says about the City's overall financial health.

Contents Pages
Financial Trends
These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time. 84-93
Revenue Capacity
These schedules contain information to help assess the government's most significant local revenue sources.
95-99
Debt Capacity
These schedules contain information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt. 100-103
Demographic and Economic Information
This schedule offers demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place. 105
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report relates to the services the City provides and the activities it performs.
106-111
Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant year.
83

City of Buellton, California
Net Position by Component
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Accrual basis of accounting)
2016 2017 2018 2019
Governmental activities
Net investment in capital assets $ 18,960,813 $ 19,488,470 $ 20,140,218 $ 20,170,546 Restricted 1,202,636 1,508,316 1,286,965 1,645,445
Unrestricted 4,204,654 4,324,620 5,823,737 7,709,927
Total governmental activities net position $ 24,368,103 $ 25,321,406 $ 27,250,920 $ 29,525,918 Business-type activities
Net investment in capital assets $ 6,076,811 $ 5,644,028 $ 5,305,580 $ 5,129,815 Restricted - - - 306,934
Unrestricted 3,308,675 3,715,375 4,318,616 4,785,860
Total business-type activities net position $ 9,385,486 $ 9,359,403 $ 9,624,196 $ 10,222,609 Primary government
Net investment in capital assets $ 25,037,624 $ 25,132,498 $ 25,445,798 $ 25,300,361 Restricted 1,202,636 1,508,316 1,286,965 1,952,379
Unrestricted 7,513,329 8,039,995 10,142,353 12,495,787
Total primary government net position $ 33,753,589 $ 34,680,809 $ 36,875,116 $ 39,748,527 Source: City Finance Department
84

2020 2021 2022 2023 2024 2025
$ 24,090,300 $ 23,695,943 $ 25,512,899 $ 25,609,555 $ 26,893,843 $ 29,621,665 1,472,682 1,947,038 2,121,838 2,366,502 2,568,571 2,685,586 5,792,942 6,881,867 8,646,789 11,801,639 12,653,621 12,207,775 $ 31,355,924 $ 32,524,848 $ 36,281,526 $ 39,777,696 $ 42,116,035 $ 44,515,026 $ 5,134,998 $ 5,035,332 $ 4,911,257 $ 5,417,973 $ 7,020,538 $ 7,342,706 306,934 - 252,969 - - -
5,064,985 5,985,765 6,125,044 6,773,179 6,029,546 6,126,618 $ 10,506,917 $ 11,021,097 $ 11,289,270 $ 12,191,152 $ 13,050,084 $ 13,469,324 $ 29,225,298 $ 28,731,275 $ 30,424,156 $ 31,027,528 $ 33,914,381 $ 36,964,371 1,779,616 1,947,038 2,374,807 2,366,502 2,568,571 2,685,586 10,857,927 12,867,632 14,771,833 18,574,818 18,683,167 18,334,393 $ 41,862,841 $ 43,545,945 $ 47,570,796 $ 51,968,848 $ 55,166,119 $ 57,984,350 85

City of Buellton, California
Changes in Net Position
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Accrual basis of accounting)
2016 2017 2018 2019
Expenses
Governmental activities:

General government $ 849,291 $ 1,784,167 $ 1,703,992 $ 1,940,530 Community development 1,115,702 364,935 342,972 641,947 Culture and leisure 523,974 790,357 796,225 808,482
Public safety 1,808,093 1,922,881 1,919,643 1,996,688
Public works 1,358,122 1,722,304 1,717,639 1,681,687
Interest on long-term debt - 645 875 600
Total governmental activities expenses 5,655,182 6,585,289 6,481,346 7,069,934 Business-type activities:

Water Utility 1,947,565 1,955,852 1,986,774 2,157,262
Wastewater Utility 1,025,834 1,099,822 1,192,648 1,206,734 Total business-type activities expenses 2,973,399 3,055,674 3,179,422 3,363,996 Total primary government expenses 8,628,581 9,640,963 9,660,768 10,433,930 Program revenues
Governmental activities:

Charges for services:

General government 10,260 - - -
Community development 52,400 - -
Culture and leisure 272,682 226,932 236,551 193,581
Public safety 39,875 - - -
Public works 72,234 - - -
Operating grants and contributions 544,749 1,405,359 1,003,979 1,210,580 Total governmental activities program revenues 992,200 1,632,291 1,240,530 1,404,161 Business-type activities:

Charges for services:

Water utility 1,426,171 1,917,538 2,470,525 2,557,878
Sewer utility 727,810 855,684 1,091,370 1,231,024
Operating grants and contributions 824,934 - - 75,950
Capital grants and contributions - 224,907 295,197 32,861 Total business-type activities program revenues 2,978,915 2,998,129 3,857,092 3,897,713 Total primary government program revenues 3,971,115 4,630,420 5,097,622 5,301,874 Net (Expense)/Revenue
Governmental activities (4,662,982) (4,952,998) (5,240,816) (5,665,773) Business-type activities 5,516 (57,545) 677,670 533,717 Total primary government net expense (4,657,466) (5,010,543) (4,563,146) (5,132,056) 86

2020 2021 2022 2023 2024 2025
$ 2,339,213 $ 2,004,116 $ 1,990,112 $ 3,044,661 $ 2,730,898 $ 2,827,264 776,855 899,797 956,018 677,260 1,568,514 1,044,212
839,109 967,345 951,626 694,252 994,177 981,828
2,207,959 2,349,126 2,659,589 2,645,358 3,005,815 3,259,406 1,779,746 2,489,793 1,926,627 1,830,795 2,550,373 2,633,098 390 11,063 33,101 21,488 20,597 24,190
7,943,272 8,721,240 8,517,073 8,913,814 10,870,374 10,769,998 2,317,545 2,250,890 2,378,987 1,798,264 2,153,551 2,525,846 1,249,792 1,152,374 1,263,891 1,381,556 1,879,249 2,025,646 3,567,337 3,403,264 3,642,878 3,179,820 4,032,800 4,551,492 11,510,609 12,124,504 12,159,951 12,093,634 14,903,174 15,321,490 - - 88,383 152,071 156,612 138,829
- - 5,000 - - -
143,841 180,216 235,277 202,046 192,645 174,876
- - 161,285 - - -
- - - - - -
2,196,978 1,557,864 1,578,276 1,910,424 3,008,818 2,130,293 2,340,819 1,738,080 2,068,221 2,264,541 3,358,075 2,443,998 2,590,392 2,681,691 2,654,616 2,551,533 2,628,439 2,770,332 1,203,524 1,223,684 1,265,128 1,238,235 1,235,761 1,249,524 - - - - - -
- - 15,190 - 82,321 491,593
3,793,916 3,905,375 3,934,934 3,789,768 3,946,521 4,511,449 6,134,735 5,643,455 6,003,155 6,054,309 7,304,596 6,955,447 (5,602,453) (6,983,160) (6,448,852) (6,649,273) (7,512,299) (8,326,000) 226,579 502,111 292,056 609,948 (86,279) (40,043)
(5,375,874) (6,481,049) (6,156,796) (6,039,325) (7,598,578) (8,366,043) (continued)
87

City of Buellton, California
Changes in Net Position, Continued
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Accrual basis of accounting)
2016 2017 2018 2019
Continued from previous page:

General Revenues and Other Changes
in Net Position:

Governmental activities:

Taxes:

Secured and unsecured property taxes $ 2,396,533 $ 1,297,795 $ 1,450,412 $ 1,508,895 Sales and use tax 2,044,067 2,521,898 2,342,222 2,700,680 Transient lodging tax 1,783,807 1,938,720 2,832,056 3,114,194 Franchise taxes 434,866 221,847 250,259 260,841
Other taxes 223,302 43,555 32,858 37,757
Fines and forfeitures - 25,396 23,097 19,341
Investment income 104,364 142,325 169,108 278,929
Other general revenues 39,300 11,372 8,155 20,134
Transfer from fiduciary activities - - - -
Transfer in (out) - - - -
Special item (7,943,576) - - -
Total governmental activities (917,337) 6,202,908 7,108,167 7,940,771 Business-type activities:

Use of money and property 10,711 17,030 38,315 64,696
Other revenues 287,690 - - -
Transfer in (out) - - - -
Total business-type activities 298,401 17,030 38,315 64,696 Total primary government (618,936) 6,219,938 7,146,482 8,005,467 Changes in Net Position
Governmental activities (5,580,319) 1,249,910 1,867,351 2,274,998 Business-type activities 303,917 (40,515) 715,985 598,413 Total primary government $ (5,276,402) $ 1,209,395 $ 2,583,336 $ 2,873,411 Source: City Finance Department
88

2020 2021 2022 2023 2024 2025
$ 1,599,958 $ 1,670,306 $ 1,751,216 $ 1,886,905 $ 1,954,402 $ 2,048,514 2,536,781 2,934,332 3,286,448 3,615,000 3,588,858 3,555,567 2,548,842 3,020,078 4,292,382 4,220,959 3,908,296 4,214,770 299,751 330,044 356,836 377,541 398,730 412,016
48,143 37,456 67,863 24,788 32,060 35,378
15,972 8,654 12,089 9,254 13,041 30,487
465,400 124,175 (252,959) 197,373 669,322 671,444
8,210 27,799 20,225 15,316 37,570 24,851
(68) (760) - - - -
- - - (201,694) (751,640) (268,036)
- - - - - -
7,522,989 8,152,084 9,534,100 10,145,442 9,850,639 10,724,991 57,661 20,773 (23,883) 90,240 193,571 191,247
- (9,464) - - - -
68 760 - 201,694 751,640 268,036
57,729 12,069 (23,883) 291,934 945,211 459,283
7,580,718 8,164,153 9,510,217 10,437,376 10,795,850 11,184,274 1,920,536 1,168,924 3,085,248 3,496,169 2,338,340 2,398,991 284,308 514,180 268,173 901,882 858,932 419,240
$ 2,204,844 $ 1,683,104 $ 3,353,421 $ 4,398,051 $ 3,197,272 $ 2,818,231 (concluded)
89

City of Buellton, California
Fund Balances, Governmental Funds
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Modified accrual basis of accounting)
2016 2017 2018 2019
General Fund:

Nonspendable $ 1,727 $ 26,036 $ 116,087 $ 109,738
Restricted -
Unassigned 6,733,906 6,939,241 8,311,826 10,291,995
Total general fund 6,735,633 6,965,277 8,427,913 10,401,733 All Other Governmental Funds:

Nonspendable 1,667 1,667 1,667 -
Restricted 1,202,636 1,508,316 1,285,298 1,645,445
Unassigned (deficit) (158,287) (132,106) (129,427) (103,453) Total all other governmental funds 1,046,016 1,377,877 1,157,538 1,541,992 Total all governmental funds $ 7,781,649 $ 8,343,154 $ 9,585,451 $ 11,943,725 Source: City Finance Department
90

2020 2021 2022 2023 2024 2025
$ 8,351 $ 111,901 $ 219,136 $ 198,000 $ 204,545 $ 38,915 1,338,606 14,244 10,985 10,985 12,166
8,478,906 8,217,772 11,754,863 13,768,082 15,213,606 15,017,976 8,487,257 9,668,279 11,988,243 13,977,067 15,429,136 15,069,057 - - - - - -
1,472,682 1,947,038 2,107,594 2,355,517 2,066,095 2,181,929 (103,254) (103,160) (105,515) (92,410) (102,397) (130,445) 1,369,428 1,843,878 2,002,079 2,263,107 1,963,698 2,051,484 $ 9,856,685 $ 11,512,157 $ 13,990,322 $ 16,240,174 $ 17,392,834 $ 17,120,541 91

City of Buellton, California
Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Modified accrual basis of accounting)
Revenues: 2016 2017 2018 2019
Taxes $ 6,479,828 $ 6,023,815 $ 6,907,807 $ 7,622,367
Licenses, permits, and fees 21,056 32,923 26,386 15,704 Intergovernmental 954,116 1,372,436 977,593 1,194,876
Charges for services 296,128 226,932 236,551 193,581
Fines and forfeitures 39,875 25,396 23,097 19,341
Use of money and property 104,364 142,325 169,108 278,929 Other 123,072 14,565 8,155 20,134
Total revenues 8,018,439 7,838,392 8,348,697 9,344,932
Expenditures:

Current:-
General government 638,552 1,686,194 1,588,688 1,841,269 Community development 1,115,702 351,280 332,000 348,285 Culture and leisure 507,894 670,726 691,949 705,442
Public safety 1,808,093 1,922,881 1,919,643 1,996,688
Public works 1,709,883 1,339,674 1,357,129 1,543,239
Capital outlay 499,756 1,036,196 1,230,696 543,647
Debt Service
Principal 2,211 6,820 7,488
Interest 645 875 600
Total expenditures 6,279,880 7,009,807 7,127,800 6,986,658 Reconciliation of Governmental Revenues
Less Expenditures to Fund Equity:

Revenues over (under) expenditures $ 1,738,559 $ 828,585 $ 1,220,897 $ 2,358,274 Other financing sources (uses):

Write off of Advance to Successor Agency Private Purpose Trust (1,876,208) - - - Release of funds to Successor Agency Private Purpose Trust (6,067,368) - - - Proceeds from capital lease - 16,359 21,400 -
Proceeds from the issuance of notes payable - - - -
Transfers in 557,213 51,500 1,388,849 734,024
Transfers out (557,213) (51,500) (1,388,849) (734,024)
Total other financing sources (uses) (7,943,576) 16,359 21,400 - Net change in fund balances $ (6,205,017) $ 844,944 $ 1,242,297 $ 2,358,274 Debt service as a percentage of noncapital expenditures 0% 0% 0% 0% Source: City Finance Department
92

2020 2021 2022 2023 2024 2025
$ 7,033,475 $ 7,992,216 $ 9,754,745 $ 10,125,193 $ 9,882,346 $ 10,266,245 9,430 13,725 19,260 16,620 13,523 53,466
2,187,548 1,544,139 1,725,301 1,893,804 2,503,804 2,076,827 143,841 180,216 323,660 354,117 349,257 313,705
15,972 8,654 12,089 9,254 13,041 30,487
315,400 124,175 (102,959) 197,373 669,322 671,444
8,210 27,799 20,225 15,316 37,570 24,851
9,713,876 9,890,924 11,752,321 12,611,677 13,468,863 13,437,025 2,227,732 1,800,010 1,937,179 3,394,522 2,440,928 2,690,968 472,919 540,225 669,358 607,692 1,156,115 737,302
728,166 804,144 865,443 860,179 821,741 891,013
2,207,959 2,346,966 2,656,349 2,642,118 3,002,575 3,251,306 1,612,809 1,542,272 1,631,898 1,819,578 2,071,446 2,185,337 4,452,645 2,022,208 1,532,953 782,812 2,023,084 3,702,693 7,698 7,922 29,280 31,620 34,964 49,999
390 534 22,575 21,610 20,846 24,465
11,710,318 9,064,281 9,345,035 10,160,131 11,571,699 13,533,083 $ (1,996,442) $ 826,643 $ 2,407,286 $ 2,451,546 $ 1,897,164 $ (96,058) - - - - - -
- - - - - -
- 829,589 70,879 - -
- - - - - 91,801
2,488,326 2,076,818 1,525,574 879,812 2,085,968 3,612,245 (2,488,394) (2,077,578) (1,525,574) (1,081,506) (2,837,608) (3,880,281) (68) 828,829 70,879 (201,694) (751,640) (176,235)
$ (1,996,510) $ 1,655,472 $ 2,478,165 $ 2,249,852 $ 1,145,524 $ (272,293) 0% 0% 1% 1% 1% 1%
93

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City of Buellton, California
Assessed Value and Actual Value of Taxable Property
For the last ten fiscal years
City Former Redevelopment Agency
Taxable Taxable
Assessed Assessed Total Direct
Secured Unsecured Value Secured Unsecured Value Tax Rate FY 15-16 $ 749,194,282 $ 61,290,514 $ 810,484,796 $ 116,980,297 $ 8,401,492 $ 125,381,789 1.000% FY 16-17 787,460,650 63,404,746 850,865,396 122,962,558 8,346,976 131,309,534 1.000% FY 17-18 860,755,629 65,148,264 925,903,893 154,527,980 9,650,651 164,178,631 1.000% FY 18-19 923,562,116 67,607,220 991,169,336 180,711,301 10,479,421 191,190,722 1.000% FY 19-20 978,634,993 69,160,163 1,047,795,156 212,503,289 10,544,416 223,047,705 1.000% FY 20-21 1,027,266,074 70,286,345 1,097,552,419 236,362,654 11,416,612 247,779,266 1.000% FY 21-22 1,062,946,768 64,190,255 1,127,137,023 250,349,017 12,298,960 262,647,977 1.000% FY 22-23 1,128,511,880 73,847,192 1,202,359,072 267,839,751 13,820,147 281,659,898 1.000% FY 23-24 1,172,345,710 81,842,219 1,254,187,929 279,561,515 14,639,055 294,200,570 1.000% FY 24-25 1,231,169,021 84,581,682 1,315,750,703 296,741,050 14,343,456 311,084,506 1.000% Source: County of Santa Barbara Auditor-Controller's Office Note: In 1978 the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value may be increased by an "inflation factor" (limited to a maximum of 2%). With few exceptions, property is only reassessed at the time that it is sold to a new owner. At that point, the new assessed value is reassessed at the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.
95

City of Buellton, California
Direct and Overlapping Tax Rates
For the last ten fiscal years
(Rate per $100 of assessed value)
Buellton Union Buellton Union Buellton Union Santa Ynez Valley Total Total School District School District AHCC Bond School District High School Bond Tax Redevelopment Basic Rate Direct 1992 2004 2006 2012 2016 Rate Agency * FY 15-16 1.000 1.000 0.0256 0.0313 0.0250 - - 1.08192 - FY 16-17 1.000 1.000 0.0256 0.0313 0.0250 - - 1.08192 - FY 17-18 1.000 1.000 - 0.0313 0.0238 0.0297 0.0150 1.09968 - FY 18-19 1.000 1.000 - 0.0313 0.0226 0.0297 0.0135 1.09699 - FY 19-20 1.000 1.000 - 0.0313 0.0219 0.0282 0.0135 1.09483 - FY 20-21 1.000 1.000 - 0.0300 0.0219 0.0270 0.0135 1.09242 - FY 21-22 1.000 1.000 - 0.0300 0.0239 0.0270 0.0135 1.09439 - FY 22-23 1.000 1.000 - 0.0300 0.0239 0.0243 0.0128 1.09101 - FY 23-24 1.000 1.000 - 0.0300 0.0227 0.0219 0.0122 1.08675 - FY 24-25 1.000 1.000 - 0.0300 0.0215 0.0208 0.0116 1.08391 - Source: County of Santa Barbara Auditor-Controller's Office Note: In 1978, California voters passed Proposition 13, which sets the property tax rate at a

1.00% fixed amount. This 1.00% is shared by all taxing agencies whose boundaries include the subject property. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of debt issued by the taxing agencies shown above.

Direct Rates Overlapping Rates
96

City of Buellton, California
Principal Property Tax Payers - Secured Roll Only
Current Year and Seven Years Ago
Assessed % of Assessed % of
Property Owner Valuation Rank Total Valuation Rank Total FPA Flying Flags Associates, LP $ 20,747,493 1 15.8% $ 17,062,299 1 17.3% Albertson's LLC 17,234,214 2 13.1% - - 0.0%
Buellton Pacific LP 17,034,259 3 13.0% - - 0.0%
Ocean Park Hotels-BLT, LLC 17,006,919 4 13.0% 10,879,443 3 11.1% Sphear Investments LLC 12,484,800 5 9.5% - - 0.0%
RTA Buellton Hotel, LLC 11,063,442 6 8.4% 9,480,600 4 9.6% Kang Family Partners 10,453,373 7 8.0% 9,421,760 5 9.6% Buellton Self-Storage, LP 9,006,778 8 6.9% 7,707,214 6 7.8% Kaywine, LLC 8,377,184 9 6.4% 7,357,532 8 7.5%
Richlynd, LLC 7,737,237 10 5.9% 6,800,000 10 6.9%
Chumash Buellton Apartments, LLC - - 15,058,012 2 15.3% RREF II-CPD Buellton, LLC - - 7,694,878 7 7.8%
ABS CA-O LLC - - 6,888,358 9 7.0%
$131,145,699 100.0% $98,350,096 100.0%
Source: County of Santa Barbara Auditor-Controller's Office FY 2024-25 FY 2017-18
97

City of Buellton, California
Schedule of Top 25 Principal Sales Tax Remitters (listed in alphabetical order) Current Year and Five Years Ago
Apr-June 2025 Apr-June 2020
Albertsons A&A Pump & Well Service
Buellton Mobil Airstream of Santa Barbara by Sky River
Buellton Shell Albertsons
Chevron Buellton Shell
Coast Auto Sales Buellton Mobil
Conserv Fuel Chevron
CVS Pharmacy Coast Auto Sales
Eagle Energy 76 Conserv Fuel
Farm Supply CVS Pharmacy
Habit Burger Grill Eagle Energy 76
Industrial Eats Farm Supply
Jim Vreeland Ford Habit Burger Grill
McDonalds Industrial Eats
O'Reilly Auto Parts Jim Vreeland Ford
Platinum Performance McDonalds
Reece Plumbing O'Reilly Auto Parts
Rio Vista Chevrolet Platinum Performance
Taco Bell Platinum Performance Vet
Taproom & Barrelworks Rio Vista Chevrolet
The Hitching Post II Taproom & Barrelworks
Toms Gas & Market The Hitching Post II
Tractor Supply Todd Pipe & supply
USA Gasoline Toms Gas & Market
Verizon Tractor Supply
We Are Airstream Santa Barbara Wonderful Wine Co
Source: City Finance Department
Note: The lists above includes both public and private entities for the most recent and prior comparable period available and therefore the dollar values have been omitted because the information is not public information. Rankings are determined by the sales dollar amount. 98

City of Buellton, California
Property Tax Levies and Collections
For the last ten fiscal years
Fiscal Collected within the
Year Taxes Levied Fiscal Year of the Levy Collections
Ended Countywide for the Percentage in Subsequent Percentage June 30, Full Cash Value Fiscal Year* Amount of Levy Years Amount of Levy 2016 $72,467,182,665 $ 1,209,841 $ 1,197,790 99.0% $ 9,375 $1,207,165 99.8% 2017 75,421,928,742 1,267,225 1,256,864 99.2% 8,308 1,265,172 99.8% 2018 79,468,594,993 1,386,091 1,370,118 98.8% 13,490 1,383,608 99.8% 2019 83,342,402,353 1,483,663 1,466,632 98.9% 13,864 1,480,496 99.8% 2020 87,526,649,641 1,572,781 1,550,367 98.6% 19,297 1,569,664 99.8% 2021 91,982,427,875 1,651,904 1,629,118 98.6% 19,890 1,649,008 99.8% 2022 95,765,404,873 1,699,909 1,681,200 98.9% 14,642 1,695,842 99.8% 2023 103,555,709,985 1,813,371 1,790,918 98.8% 17,389 1,808,307 99.7% 2024 110,489,215,541 1,894,316 1,868,416 98.6% 15,713 1,884,129 99.5% 2025 116,469,077,088 1,993,267 1,958,611 98.3% - 1,958,611 98.3% Source: Santa Barbara County Auditor-Controller's Office Note: For the fiscal year ended June 30, 2025 as of 6/30/25 Total
Collections
99

City of Buellton, California
Direct and Overlapping Debt
Current Year
June 30, 2025
2024-25 Assessed Valuation: $ 1,315,750,703
DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT: Debt Outstanding (1) % Applicable (2) Estimate Share
of Debt
Allan Hancock Joint Community College District - GO Bonds $ 140,055,362 3.510% 4,915,649 $ Santa Ynez Valley High School District - Bond 9,205,000 13.973% 1,286,235 Buellton Union School District - GO Bonds and Bond Anticipation Notes 10,455,000 72.216% 7,550,207 TOTAL DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT 159,715,362 13,752,090 OVERLAPPING GENERAL FUND DEBT:

Santa Ynez Valley Union High School District - Certificates of Participation 548,000 13.973% 76,573 Santa Barbara County Certificates of Participation 160,248,000 1.146% 1,836,988 TOTAL OVERLAPPING GENERAL FUND DEBT 160,796,000 1,913,561 DIRECT DEBT:

City of Buellton Note Payable - Direct Borrowing 839,898 100.000% 839,898 City of Buellton Capital Leases Payable 19,264 100.000% 19,264 TOTAL DIRECT DEBT 859,162 859,162
COMBINED TOTAL DEBT $ 16,524,813 (3)
(1) Bond Principal Balance estimated as of 6/30/2025, Certificate Balance estimated as of 6/30/25 Ratios to 2024-25 Assessed Valuation:

Direct Debt 0.07%
Total Overlapping Tax and Assessment Debt 1.19%
Combined Total Debt 1.26%
Source: Santa Barbara County Auditor-Controller's Office (2) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total assessed value.
(3) Excludes tax and revenue anticipation notes, enterprise revenue and mortgage revenue bonds and non-bonded lease obligations. 100

City of Buellton, California
Ratios of Outstanding Debt by Type
For the last ten fiscal years
Notes Payable
Direct Borrowing (1)
Capital Leases
Payable (1)
Total Primary
Government
Percentage of
Personal
Income (2)
Per Capita
(2)
FY 15-16 $ - $ - $ - 0.00% $ -
FY 16-17 - - - 0.00% -
FY 17-18 - - - 0.00% -
FY 18-19 - - - 0.00% -
FY 19-20 - 13,542 13,542 0.00% 2
FY 20-21 - 835,209 835,209 0.24% 161
FY 21-22 - 60,466 60,466 0.02% 12
FY 22-23 800,296 44,892 845,188 0.23% 171
FY 23-24 782,047 35,313 817,360 0.22% 164
FY 24-25 839,898 19,264 859,162 0.21% 169
Source:
(1) City of Buellton Annual Comprehensive Financial Report (2)County of Santa Barbara Auditor-Controller's Office
101

City of Buellton, California
Legal Debt Margin Information
Last Ten Fiscal Years
(Dollars in thousands)
2016 2017 2018 2019
Assessed Value $ 749,194,282 $ 787,460,650 $ 860,755,629 $ 923,562,116 Conversion Percentage 25% 25% 25% 25%
Adjusted Assessed Value 187,298,571 196,865,163 215,188,907 230,890,529 Debt Limit Percentage 15% 15% 15% 15%
Debt limit 28,094,786 29,529,774 32,278,336 34,633,579
Total net debt applicable to limit - - - -
Legal debt margin $ 28,094,786 $ 29,529,774 $ 32,278,336 $ 34,633,579 Total net debt applicable to the limit
as a percentage of debt limit 0% 0% 0% 0%
Source: City Finance Department
The City does not have any outstanding general obligation debt subject to the limit.

Notes: The Government Code of the State of California provides for a legal debt limit of 15% of grossed assessed secured tax valuation. However, this provision was enacted when assessed valuation was based upon 25% of market value.

Effective with the 1981-82 fiscal year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The computations shown above reflect a conversion of the assessed value for each fiscal year from the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local governments located within the state. 102

2020 2021 2022 2023 2024 2025
$ 978,634,993 $ 1,027,266,074 $ 1,062,946,768 $ 1,128,511,880 $ 1,172,345,710 $ 1,231,169,021 25% 25% 25% 25% 25% 25%
244,658,748 256,816,519 265,736,692 282,127,970 293,086,428 307,792,255 15% 15% 15% 15% 15% 15%
36,698,812 38,522,478 39,860,504 42,319,196 43,962,964 46,168,838 - - - - - -
$ 36,698,812 $ 38,522,478 $ 39,860,504 $ 42,319,196 $ 43,962,964 $ 46,168,838 0% 0% 0% 0% 0% 0%
103

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City of Buellton, California
Demographic and Economic Statistics
Last Ten Calendar Years
Personal Income Per Capita
Santa Barbara County Personal Income Unemployment Rate
Year Population (1) (in thousands) (2) Santa Barbara County (3) Santa Barbara County (4) 2016 4,957 $ 22,300,000 $ 49,900 4.9%
2017 5,129 24,200,000 53,700 4.3%
2018 5,291 25,000,000 55,100 3.9%
2019 5,453 26,646,853 58,600 3.5%
2020 5,464 27,992,849 62,000 11.6%
2021 5,185 29,502,767 66,900 5.9%
2022 5,055 30,190,183 67,818 2.8%
2023 4,944 33,037,087 74,989 3.8%
2024 4,970 33,607,554 75,757 4.2%
2025 5,091 36,507,933 81,649 4.7%
Notes:

Sources:
(1) California Department of Finance, numbers are based on January 1, 2024, incorporating 2020 Census data (2) U.S. Dept. of Commerce Bureau of Economic Analysis, estimated amounts. (3) U.S. Dept. of Commerce Bureau of Economic Analysis. (4) State of California Employment Development Department Research Center. ** Information presented is for the Santa Barbara County Region, except for population data which relate to the City's population, since separate data is not available for the City of Buellton.
105

City of Buellton, California
Full-time and Part-time City Employees by Function (Full Time Equivalent) Last Ten Fiscal Years
(Fiscal year ended June 30)
Function 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 General Government
- City Council 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 - City Clerk / HR 1.00 1.00 1.00 1.00 1.00 1.00 1.07 1.24 1.02 1.15 - City Manager 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.10 - City Attorney * - - - - - - - - - -
- Finance 3.55 3.55 3.55 3.55 3.55 3.20 3.20 3.22 3.48 3.90 Community Development
- Planning 2.45 2.45 2.27 3.27 3.27 3.33 3.26 3.20 3.77 3.07 Culture and Leisure
- Parks & Recreation 6.60 7.80 5.53 5.14 6.14 4.93 5.02 5.33 4.43 3.98 - Library ** - - - - - - - - - -
Public Safety
- Police *** - - - - - - - - - -
- Fire **** - - - - - - - - - -
Public works
- Street Lights - - - - - - - - - -
- Engineering - - - - - - - - - -
- General 8.80 8.80 8.61 7.18 7.18 8.86 9.41 8.58 8.55 8.70 Total 28.40 29.60 26.96 26.14 27.14 27.32 27.96 27.57 27.25 26.90 Note:
* Starting in FY2009 the City Attorney is contract personnel . *** Contract with Santa Barbara County Sheriff Department for law enforcement services. **** Contract with Santa Barbara County Fire Department to provide staffing at County Fire Station 31 in Buellton.

Source: City Finance Department
** The City of Buellton contracted with City of Goleta to manage the Buellton Branch of the City of Goleta Library.
106

City of Buellton, California
Operating Indicators by Function
Last Ten Fiscal Years
(Fiscal year ended June 30)
Function 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Police *
- Arrests 107 176 172 186 209 214 185 136 156 172
- Non-criminal Citations 402 693 211 318 256 134 143 82 216 322 Total Police Actions 509 869 383 504 465 348 328 218 372 494 Fire **
- Number of Calls for Service 479 577 602 675 699 680 638 619 746 620 - Emergency Call Responses 492 *** *** *** *** *** *** *** *** *** - Fire Prevention Activities 55 81 336 23 NA NA NA NA NA NA Total Fire Actions 1,026 658 938 698 699 680 638 619 746 620 Planning Permits:
- Certificate of Compliance - - - - - - - - - -
- Conditional Use 3 - 1 1 1 2 2 1 2 3
- Development Plan Modification 1 2 2 - 1 1 - - 3 3
- Final Development Plan 2 3 2 1 1 2 5 1 - 1
- General Plan Amendment - 1 - - - - - 1 - -
- Preliminary Development Plan - - - - - - - - - -
- Home Occupation 7 7 6 3 3 6 4 1 2 1
- Land Use Exemption 87 77 110 78 75 106 154 135 99 76
- Lot Line Adjustment - 3 1 2 1 - 1 - - 1
- Minor Use Permit 2 1 - - - 2 3 2 3 3
- Sign Ordinance Exemption 1 1 - - - - 1 - - -
- Specific Plan - 1 - - - - 1 - - 2
- Time Extensions - - - 3 2 3 3 4 3 1
- Tentative Parcel Map - 1 1 - - 1 1 - - 1
- Tentative Tract Map 1 1 - - - 1 1 - - -
- Variance - - - - - - - - - -
- Zoning Clearance 69 75 63 68 30 48 43 51 51 46
- Zoning Ordinance Amendment 2 - 1 - 4 1 1 - - 1
Total planning actions 175 173 187 156 118 173 220 196 163 139 *Police services are provided by the Santa Barbara County Sheriff's Office. ** Fire services are provided by the Santa Barbara County Fire Department *** FY2017 and forward: Number of Calls for Service includes all Emergency Call Responses NA indicates the information is not available.

Source: City Finance, Public Works and Planning Departments 107

City of Buellton, California
Capital Asset Statistics by Function
Last Ten Fiscal Years
(Fiscal year ended June 30)
Function 2016 2017 2018 2019
Police *:

Stations 1 1 1 1
Fire *
Fire stations 1 1 1 1
Public works
Streets (miles) 22 22 22 22
Streetlights 64 64 91 91
Parks and recreation
Parks 4 4 4 4
Sewer
Sanitary sewers (miles) 18 18 18 18
Number of pump stations 2 2 2 3
Wastewater treatment plant 1 1 1 1
Water
Water lines 27 27 27 27
Wells 5 5 5 5
Water treatment plants 2 2 2 2
Reservoirs 3 3 3 3
Source: City Finance, Public Works and Planning Departments * Services are provided by the County or Special Districts, which are separate from the City.

The data provided are for those portions of the system located within the City of Buellton. 108

2020 2021 2022 2023 2024 2025
1 1 1 1 1 1
1 1 1 1 1 1
22 22 22 22 22 22
91 91 91 91 174 174
5 5 5 5 5 5
18 18 18 18 18 18
3 3 3 3 3 3
1 1 1 1 1 1
27 27 27 27 27 27
6 6 6 6 6 6
2 2 2 2 2 2
3 3 3 3 3 3
109

City of Buellton, California
Capital Asset Statistics by Funds
Last Ten Fiscal Years
(Fiscal year ended June 30)
2016 2017 2018 2019
Governmental-type
Land $ 1,536,248 $ 1,827,166 $ 1,827,166 $ 1,827,166
Construction-in-progress - - - -
Buildings and improvements 5,806,438 5,829,209 5,896,731 6,008,444 Equipment 598,224 632,269 672,095 672,095
Infrastructure 16,939,604 17,604,230 18,658,272 19,090,206 Total 24,880,514 25,892,874 27,054,264 27,597,911
Accumulated depreciation
Total Accumulated depreciation (5,919,701) (6,390,256) (6,885,318) (7,406,125) Total Governmental net capital assets 18,960,813 19,502,618 20,168,946 20,191,786 Business-type Activities
Land 247,691 247,691 247,691 247,691
Construction-in-progress - -
Buildings and improvements 574,387 574,387 574,387 574,387 Equipment 894,291 897,367 905,220 905,220
Infrastructure 12,451,313 12,570,229 12,703,866 12,978,756 Total 14,167,682 14,289,674 14,431,164 14,706,054
Accumulated depreciation
Total accumulated depreciation (8,090,871) (8,645,646) (9,125,584) (9,576,239) Total Business-type net capital assets $ 6,076,811 $ 5,644,028 $ 5,305,580 $ 5,129,815 Source: City Finance Department
110

2020 2021 2022 2023 2024 2025
$ 2,639,835 $ 2,639,835 $ 2,639,835 $ 2,639,835 $ 2,639,835 $ 2,639,835 - 337,960 994,288 319,810 1,360,391 375,414
7,927,047 7,970,931 8,133,231 8,225,942 9,196,029 13,763,251 704,826 730,716 730,716 730,716 732,776 853,224
20,778,848 22,393,322 23,036,768 24,401,347 24,401,347 24,401,347 32,050,556 34,072,764 35,534,838 36,317,650 38,330,378 42,033,071 (7,946,714) (9,203,652) (9,204,955) (9,906,692) (10,653,341) (11,570,678) 24,103,842 24,869,112 26,329,883 26,410,958 27,677,037 30,462,393 247,691 247,691 247,691 247,691 247,691 247,691
- 1,365,319 3,424,198 349,573 1,576,329 -
574,387 574,387 582,135 582,135 582,135 582,135
910,068 861,814 861,814 861,814 1,115,885 1,380,483
13,415,422 13,639,027 13,829,470 17,771,500 18,283,405 20,723,483 15,147,568 16,688,238 18,945,308 19,812,713 21,805,445 22,933,792 (10,012,570) (10,397,929) (10,768,681) (11,193,555) (11,656,721) (12,388,350) $ 5,134,998 $ 6,290,309 $ 8,176,627 $ 8,619,158 $ 10,148,724 $ 10,545,442 111

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GLOSSARY and ACRONYMS

GLOSSARY OF TERMS
Accounting System The total structure of records and procedures which identify, record, classify, summarize and report information on the financial position and results of operations of a government.

Accrual Accounting Basis of accounting used in proprietary fund types (enterprise and Internal Service funds) and in government-wide financial statements; statements include all economic resources of fund, including capital assets and long-term debt.

Adoption Formal action by the City Council, which sets the spending plan for the fiscal year.

Appropriation A legal authorization granted by the City Council to expend monies, and incur obligations for specific purposes.

Assessed Property Value The dollar value set upon real estate or other property by the County Assessor.

Audit A view of the City's accounts by internal audit staff or an independent auditing firm to substantiate fiscal year-end fund, salaries, reserves, and cash on hand.

Balanced Budget A budget with no budget deficits, but could possibly have a budget surplus.

Bonds A certificate of debt issued by an entity, guaranteeing payment of the original investment, plus interest, by a specified future date.

Budget An annual financial plan that identifies estimated revenues, specific types and levels of services to be provided, and establishes the amount of money which can be spent.

Budgetary Control The control or management of a government or enterprise in accordance with an approved budget for the purpose of keeping expenditures within the limitations of available
appropriations and revenues.

CalPERS The California Public Employees’ Retirement System (CalPERS) is an agency in California that manages pension and health benefits to its 2 million members. Members include school, public agency and state members.

Capital Improvement Plan (CIP) Annual appropriations in the City's budget for capital improvement projects such as street or park improvements, building construction, and various kinds of major facility

GLOSSARY and ACRONYMS
maintenance. Capital improvement projects are supported by a five-year expenditure plan, which details funding sources and expenditure amounts. They are often multi-year projects which require funding beyond the one-year period of the annual budget.

Consumer Price Index (CPI) A statistical description of price levels provided by the U.S.

Department of Labor. The change in this index from year to year is used to measure the cost of living and economic inflation.

Contingency A budgetary reserve set aside for emergency or unanticipated expenditures, revenue shortfalls and/or unknown expenditures; also referred to as appropriated reserves.

Debt Service The payment of principal and interest on borrowed fund, such as bonds.

Deficit An excess of expenditures or expenses over revenues.

Departments/Divisions/Activities The budget organizes departmental expenditures into functional budget/organizational units called divisions. Each division contains an "activity summary" which describes the major services being provided and the personnel/financial resources required to provide the service.

Depreciation An accounting method of allocating the cost of a tangible or physical asset over its useful life or life
expectancy. Depreciation represents how much of an asset's value has been used up.

Enterprise Fund A type of fund established for the total costs of those governmental facilities and services which are operated in a manner similar to private enterprises. These programs are entirely or predominantly self-supporting. The City enterprise funds are the water and sewer funds.

Expenditure The actual payment for goods and services.

Franchise Fee A regulatory fee charged to utility companies for the privilege of doing business in the City of Buellton. For example, Comcast, Marborg, PG&E and SoCal Gas.

Fiduciary Fund Repository of money held by a municipality in a trustee capacity or as an agent for individuals, private organizations other governmental units and other funds. These include pension (and other employee benefit) trust funds, investment trust funds, private-purpose funds, and agency funds.

GLOSSARY and ACRONYMS
Fiscal Year The period designated by the City for the beginning and ending of financial transactions. The City of Buellton's fiscal year begins July 1 and ends June 30 of each year.

Fringe Benefits These include employee retirement, health, dental and vision insurance, workers compensation, uniforms and deferred
compensation plans.

Full-time Equivalence (FTE) The hours worked by one employee on a full-time basis. The concept is used to convert the hours worked by several parttime employees into the hours worked by full-time employees.

On an annual basis, an FTE is considered to be 2,080 hours, which is calculated as: 8 hours per day x 5 work days per week.

Fund An accounting entity with a set of self-balancing revenue and expenditure accounts used to record the financial affairs of a governmental organization.

Fund Balance The difference between the assets (revenues and other resources) and liabilities (expenditures incurred or committed to) of a particular fund. Accumulated surplus of revenue over expenditures (equity) in the governmental funds.

Generally Accepted Accounting
Principles (GAAP) Uniform minimum standards and guidelines for accounting and reporting. These standards govern the form and content of the annual financial statements of an entity. The primary
authoritative body on the application of GAAP to state and local governments is the Governmental Accounting Standards Board (GASB).

General Fund The fund used to account for all financial resources except those required to be accounted for in another fund (e.g., enterprise or grant funds). Usually, the General Fund is the largest fund in a municipality.

Grants Contributions of cash or other assets from another governmental agency to be used or expended for a specified purpose, activity or facility.

Infrastructure Facilities on which the continuance and growth of a community depend, such as roads, water lines, sewers, public buildings, parks and so forth.

Interfund Transfer Money transferred into another fund to finance operations or capital projects.

GLOSSARY and ACRONYMS
Lease-Purchase Agreement Contractual agreements which are termed leases, but whose lease amount is applied to the purchase.

Levy (verb) To impose taxes, special assessments or service charges for the support of governmental activities; (noun) The total amount of taxes, and/or special assessments and/or service charges imposed by a governmental agency.

Long-Term Debt Debt with a maturity of more than one year after the date of issue.

Maintenance of Effort (MOE) The required amount of discretionary expenditures to maintain city streets and roads.

Major Fund Funds whore revenues, expenditures/expenses, assets or liabilities (excluding extraordinary items) are at least 10 percent of corresponding totals for all governmental or
enterprise funds and at least 5 percent of the aggregate amount for all governmental and enterprise funds.

Modified Accrual Basis of accounting used in governmental funds which focuses on current, available resources or a “working capital” approach; fund statements exclude long-term capital assets and debt.

Municipal Code City Council approved ordinances currently in effect.

Objective Desired output oriented accomplishments which can be measured and achieved within a given time frame.

Objects of Expenditure The individual expenditure accounts used to record each type of expenditure City operations may incur. For budgeting purposes, objects of expenditure are categorized into groups of similar types of expenditures called major categories of expenditure.

The principal objects of expenditure used in the budget are:
 Employee Services - Salaries and fringe benefits paid to City employees. Includes items such as vision, health, dental insurance, retirement and deferred compensation.
 Operating and Maintenance Charges - Supplies and other materials and services used in the normal operations of City departments. Includes items such as books, chemicals and construction materials, consultant contracts and internal service fund charges, advertising, travel and utilities.
 Minor Capital Outlay - A budget category which budgets all equipment having a unit cost of more than $500 and an

GLOSSARY and ACRONYMS
estimated useful life of more than one year. This includes furniture, automobiles, machinery, equipment and other
relatively minor fixed assets.

Operating Budget Plans of current expenditures and the proposed means of financing them. The annual operating budget is the primary means by which most of the financing acquisition, spending and service delivery activities of a government are controlled.

Operating Expenditures Expenditures for salaries, material and supplies, services which are ordinary through its normal operations.

Operating Revenue Annual income received by the City through sources such as taxes, fines, fees, grants, charges for current services or other revenues that can be used to finance operations or capital assets.

Ordinance A formal legislative enactment by the governing board (City Council) of a municipality. If it is not in conflict with any higher form of law, it has the full force and effect of law within the boundaries of the municipality to which it applies.

Performance Measure Achievement of the objective/advances the organization has towards a corresponding goal.

Reserve An account used to record a portion of the fund balance as legally segregated for a specific use.

Resolution A special or temporary order of a legislative body requiring less formality than an ordinance.

Special Revenue Funds Revenues are restricted/committed for specific purposes (other than debt or capital). Ex. Gas Tax and Measure A.

Taxes Compulsory charges levied by a government for the purpose of financing services performed for the common benefit. This term does not include charges for services rendered only to those paying for such charges as sewer or water service.

Transfers In/Out Payments from one fund to another fund, primarily for work or services provided.

Unfunded Accrual Liability (UAL) (UAL) obligation represents the market value of the assets. minus the discounted value of the future liabilities. When a plan or pool's Market Value of. Assets is less than the
Actuarial Accrued Liability, the difference is the plan or pool's UAL.

GLOSSARY and ACRONYMS

ACRONYMS
ACFR Annual Comprehensive Financial Report
CalPERS California Public Employees’ Retirement
System
CERT Community Emergency Response Team
CIP Capital Improvement Plan
CJPIA California Joint Powers Insurance
Authority
COLA Cost of Living Adjustment
COPS Citizens’ Option for Public Safety
DCP Deferred Compensation Plan
FEMA Federal Emergency Management Agency
FOG Fats, Oils and Grease
FTE Full-time Equivalence
FY Fiscal Year
GAAP Generally Accepted Accounting
Principles
GASB Governmental Accounting Standards
Board
GFOA Governmental Finance Officers
Association of the United States and
Canada
HSC Healthy and Safety Code
IWD Industrial Waste Discharge
LAFCO Local Agency Formation Commission
LAIF Local Agency Investment Fund
LTF Local Transportation Fund
MC Medicare
MOE Maintenance of Effort
NPDES National Pollutant Discharge Elimination
System
OPEB Other Post-Employment Benefits
RDA Redevelopment Agency
RMRA Road Maintenance and Rehabilitation
Account
SB1 Senate Bill No.1: Road Repair and
Accountability Act of 2017
SBCAG Santa Barbara County Association of
Governments
SCADA Supervisory Control and Data Acquisition
SEMP Socio-Economic Mitigation Program
SGMA Sustainable Groundwater Management
Act
SS Social Security
STA State Transit Assistance
TDA Transportation Development Act
TOT Transient Occupancy Tax
UAL Unfunded Accrued Liability
VLF Vehicle License Fee
WTP Water Treatment Plant
WWTP Wastewater Treatment Plant

Variance
Fiscal Favorable Percent
Activity (Unfavorable) Used
Revenue
001-41005 [1] 1,976,364.59 105,201.59 105.62 %
001-41010 [1] 72,148.68 -2,115.32 97.15 %
001-41015 [3] 6,285.18 -304.82 95.37 %
001-41020 [1] 412,015.80 -3,022.20 99.27 %
001-41025 [1] 3,555,566.79 -55,209.21 98.47 %
001-41035 [1] 4,214,769.63 164,769.63 104.07 %
001-41040 [1] 35,377.63 10,377.63 141.51 %
10,272,528.30 219,697.30 102.19%
001-42010 1,620.00 495.00 144.00 %
001-42015 43,545.00 34,545.00 483.83 %
001-49585 45.00 45.00 0.00 %
001-49632 390.00 390.00 0.00 %
[2] 45,600.00 35,475.00 450.37%
001-43005 8,110.40 2,130.40 135.63 %
001-43010 649,027.00 10,294.00 101.61 %
001-43015 194,663.36 25,352.36 114.97 %
001-43040 5,000.00 0.00 100.00 %
001-43055 64,835.92 64,835.92 0.00 %
001-44035 59,777.00 -191,769.00 23.76 %
[3] 981,413.68 -89,156.32 91.67%
001-44005 149,099.00 -10,901.00 93.19 %
001-44010 5,110.00 1,610.00 146.00 %
001-44015 2,145.00 -505.00 80.94 %
001-44020 16,630.00 4,420.00 136.20 %
001-44025 1,565.00 -20.00 98.74 %
001-44045 138,828.50 18,602.50 115.47 %
[4] 313,377.50 13,206.50 104.40%
001-44250 [7] 24,852.33 7,352.33 142.01 %
24,852.33 7,352.33 142.01%
001-45005 287.67 -12.33 95.89 %
001-45010 20,669.54 15,669.54 413.39 %
001-49532 9,528.56 9,528.56 0.00 %
[5] 30,485.77 25,185.77 575.20%
001-44105 594,547.55 124,547.55 126.50 %
001-49010 -13,424.17 -18,424.17 268.48 %
[6] 581,123.38 106,123.38 122.34%
001-44040 0.00 -5,334,544.00 0.00 %
Fiscal
Activity
Favorable
(Unfavorable)
Percent
Used
001-49737 [j] 91,801.11 91,801.11 0.00 %
91,801.11 -5,242,742.89 1.72%
12,341,182.07 -4,924,858.93 71.48%
023-44310 [4] 328.00 328.00 0.00 %
328.00 328.00 0.00%
023-44105 [6] 316.96 -983.04 24.38 %
316.96 -983.04 24.38%
644.96 -655.04 49.61%
024-47010 [2] 7,866.00 7,866.00 0.00 %
Category: 490 - Use of Monies & Properties Total: 5,800.00 1,300.00 Fund: 023 - Housing Fees Total: 5,800.00 1,300.00
Traffic Mitigation Fees 0.00 0.00
Fund: 024 - Traffic Mitigation Fund Category: 470 - Traffic Mitigation Fund: 001 - General Fund Total: 11,987,307.00 17,266,041.00 Housing Fees 0.00 0.00
Category: 443 - Housing Total: 0.00 0.00
Interest 5,800.00 1,300.00
Fund: 023 - Housing Fees Category: 443 - Housing
Category: 490 - Use of Monies & Properties
Category: 495 - Client Review
Transfer from Reserves 1,005,000.00 5,334,544.00
Original
Total Budget
Current
Total Budget
Capital Lease Proceeds 0.00 0.00
Category: 495 - Client Review Total: 1,005,000.00 5,334,544.00 Category: 450 - Fines & Penalties Total: 5,300.00 5,300.00 Category: 490 - Use of Monies & Properties
Interest 78,000.00 470,000.00
Rent 5,000.00 5,000.00
Category: 490 - Use of Monies & Properties Total: 83,000.00 475,000.00 Category: 442 - Misc Total: 8,950.00 17,500.00
Category: 450 - Fines & Penalties
Criminal Fines & Penalties 300.00 300.00
Fines & Fees 5,000.00 5,000.00
Code Enforcement Fines 0.00 0.00
Event Application Fee/Temp Use 1,585.00 1,585.00
Lease Revenue - Principal 148,320.00 120,226.00
Category: 440 - Charges for Current Services Total: 311,705.00 300,171.00 Category: 442 - Misc
Miscellaneous 8,950.00 17,500.00
Category: 440 - Charges for Current Services
Buellton Recreation Program 150,000.00 160,000.00
Recreation Program 50/50 3,500.00 3,500.00
Buellton Rec Program Trips 3,500.00 2,650.00
Park Reservation Fees 4,800.00 12,210.00
COPS grant 169,311.00 169,311.00
Beverage Container Grant 5,000.00 5,000.00
OTS Grant 0.00 0.00
Cost Reimbursement 0.00 251,546.00
Category: 430 - Revenues From Other Agencies Total: 809,684.00 1,070,570.00 Time Extension Fees 0.00 0.00
Category: 420 - Fees & Permits Total: 10,125.00 10,125.00 Category: 430 - Revenues From Other Agencies
Motor Vehicle in Lieu Tax 4,500.00 5,980.00
MV License Fee Compensation 630,873.00 638,733.00
Category: 410 - Taxes Total: 9,753,543.00 10,052,831.00 Category: 420 - Fees & Permits
Zoning Clearance 1,125.00 1,125.00
Small Permits 9,000.00 9,000.00
Miscellaneous Permits 0.00 0.00
Homeowners Exemptions 6,590.00 6,590.00
Franchise Fees 434,500.00 415,038.00
Sales Tax 3,540,543.00 3,610,776.00
Transient Occupancy Tax 3,800,000.00 4,050,000.00
Property Transfer Tax 43,463.00 25,000.00
Fund: 001 - General Fund
Category: 410 - Taxes
Property Taxes - Secured 1,859,335.00 1,871,163.00
Property Taxes - Unsecured 69,112.00 74,264.00
2024-25 Revenue and Exenditure Report
City of Buellton, CA Governmental Funds
Original Current
Total Budget Total Budget

7,866.00 7,866.00 0.00%
Fiscal Favorable Percent
Activity (Unfavorable) Used
024-44105 [6] 1,326.01 451.01 151.54 %
1,326.01 451.01 151.54%
9,192.01 8,317.01 1,050.52%
025-44040 0.00 -515,193.00 0.00 %

0.00 -515,193.00 0.00%
025-47110 67,940.00 -2,060.00 97.06 %
025-47116 140,375.13 8,574.13 106.51 %
025-47120 31,990.75 18.75 100.06 %
025-47125 21,312.66 289.66 101.38 %
025-47130 42,437.88 -1,257.12 97.12 %
025-47135 2,000.00 0.00 100.00 %
025-47140 49,068.61 3,336.61 107.30 %
[3] 355,125.03 8,902.03 102.57%
025-44105 [6] 22,770.15 11,770.15 207.00 %
22,770.15 11,770.15 207.00%
377,895.18 -494,520.82 43.32%
027-47310 [3] 4,536.64 -997.36 81.98 %
4,536.64 -997.36 81.98%
027-47415 0.00 -28,466.00 0.00 %

0.00 -28,466.00 0.00%
027-44105 [6] 12,521.30 4,521.30 156.52 %
12,521.30 4,521.30 156.52%
027-49690 [h] 30,000.00 0.00 100.00 %
30,000.00 0.00 100.00%
47,057.94 -24,942.06 65.36%
Fiscal Favorable Percent
Activity (Unfavorable) Used
029-47410 [3] 21,999.92 -23,000.08 48.89 %
21,999.92 -23,000.08 48.89%
029-44105 [6] 538.34 238.34 179.45 %
538.34 238.34 179.45%
22,538.26 -22,761.74 49.75%
031-47510 [3] 440,293.68 -156.32 99.96 %
440,293.68 -156.32 99.96%
031-44105 [6] 34,792.83 19,792.83 231.95 %
34,792.83 19,792.83 231.95%
031-49736 0.00 -558,402.00 0.00 %

0.00 -558,402.00 0.00%
475,086.51 -538,765.49 46.86%
032-43060 [3] 267,172.45 -408,570.55 39.54 %
267,172.45 -408,570.55 39.54%
032-44105 [6] 863.03 863.03 0.00 %
863.03 863.03 0.00%
268,035.48 -407,707.52 39.67%
075-44105 [6] 17,197.64 17,197.64 0.00 %
17,197.64 17,197.64 0.00%
Fund: 075 - Trust & Agency Fund Total: 0.00 0.00 17,197.64 17,197.64 0.00% Category: 490 - Use of Monies & Properties Total: 0.00 0.00 Fund: 032 - American Rescue Plan Act Fund Total: 0.00 675,743.00 Interest Revenue 0.00 0.00
Category: 490 - Use of Monies & Properties Total: 0.00 0.00 Fund: 075 - Trust & Agency Fund
Category: 490 - Use of Monies & Properties
Fund: 031 - Measure A Total: 462,937.00 1,013,852.00
ARPA Funding 0.00 675,743.00
Category: 430 - Revenues From Other Agencies Total: 0.00 675,743.00 Interest 0.00 0.00
Fund: 032 - American Rescue Plan Act Fund
Category: 430 - Revenues From Other Agencies
Category: 490 - Use of Monies & Properties
Interest 7,000.00 15,000.00
Category: 490 - Use of Monies & Properties Total: 7,000.00 15,000.00 Transfer from Reserves 0.00 558,402.00
Category: 495 - Client Review Total: 0.00 558,402.00
Category: 490 - Use of Monies & Properties
Category: 495 - Client Review
Category: 490 - Use of Monies & Properties Total: 306.00 300.00 Fund: 029 - Transportation Planning Total: 45,306.00 45,300.00 Measure A 455,937.00 440,450.00
Category: 475 - Measure A Total: 455,937.00 440,450.00
Fund: 031 - Measure A
Category: 475 - Measure A
Original Current
Total Budget Total Budget
STA Funding 45,000.00 45,000.00
Category: 474 - Transportation Planning Total: 45,000.00 45,000.00 Interest 306.00 300.00
Fund: 029 - Transportation Planning
Category: 474 - Transportation Planning
Category: 490 - Use of Monies & Properties
Category: 490 - Use of Monies & Properties Total: 3,800.00 8,000.00 Transfer from Other Funds 97,000.00 30,000.00
Category: 495 - Client Review Total: 97,000.00 30,000.00 Fund: 027 - Local Transportation Fund Total: 137,000.00 72,000.00 Category: 495 - Client Review
Category: 473 - Local Transportation Total: 5,665.00 5,534.00 Transfer from General Fund 30,535.00 28,466.00
Category: 474 - Transportation Planning Total: 30,535.00 28,466.00 Interest 3,800.00 8,000.00
Category: 474 - Transportation Planning
Category: 490 - Use of Monies & Properties
Category: 490 - Use of Monies & Properties
Interest 6,000.00 11,000.00
Category: 490 - Use of Monies & Properties Total: 6,000.00 11,000.00 Fund: 025 - Gas Tax Fund Total: 358,240.00 872,416.00
LTF - Bikeways 5,665.00 5,534.00
Fund: 027 - Local Transportation Fund Category: 473 - Local Transportation Gas Tax 2106 22,418.00 21,023.00
Gas Tax 2107 41,403.00 43,695.00
Gas Tax 2107.5 2,040.00 2,000.00
Gas Tax 2103/R & T 7360 52,054.00 45,732.00
Category: 471 - Gas Tax Total: 352,240.00 346,223.00
Category: 440 - Charges for Current Services Total: 0.00 515,193.00 Surface Transportation Program 70,000.00 70,000.00
SB1 - Local Streets & Roads 129,855.00 131,801.00
Gas Tax 2105 34,470.00 31,972.00
Category: 471 - Gas Tax
Interest 400.00 875.00
Category: 490 - Use of Monies & Properties Total: 400.00 875.00 Fund: 024 - Traffic Mitigation Fund Total: 400.00 875.00 Transfer from Reserves 0.00 515,193.00
Fund: 025 - Gas Tax Fund
Category: 440 - Charges for Current Services
Category: 490 - Use of Monies & Properties
Original Current
Total Budget Total Budget
Category: 470 - Traffic Mitigation Total: 0.00 0.00

Fiscal Favorable Percent
Activity (Unfavorable) Used
092-49726 360,219.14 -390,196.86 48.00 %
092-49727 2,978,211.58 -3,775,119.42 44.10 %
092-49728 243,814.92 -740,037.08 24.78 %
092-49729 0.00 -550,000.00 0.00 %
092-49732 0.00 -599,123.00 0.00 %
092-49734 0.00 -675,743.00 0.00 %
[h] 3,582,245.64 -6,730,219.36 34.74%
3,582,245.64 -6,730,219.36 34.74%
17,141,075.69 -13,118,916.31 56.65%
001-401-50000 70,632.26 -570.26 100.81 %
001-401-50020 31,000.00 3,200.00 90.64 %
001-401-50025 4,050.00 450.00 90.00 %
001-401-50120 1,665.00 -87.00 105.51 %
001-401-50130 44.80 749.20 5.64 %
001-401-50200 14,321.04 -86.04 100.60 %
001-401-50300 11,270.30 1,241.70 90.08 %
001-401-50400 13,678.99 -7,248.99 212.74 %
001-401-50410 4,054.32 4.68 99.88 %
001-401-50500 39.82 4.18 90.50 %
150,756.53 -2,342.53 101.58%
001-401-60013 18,922.12 34,077.88 35.70 %
001-401-60210 5,392.57 -2,240.57 171.08 %
001-401-60650 100.00 -100.00 0.00 %
001-401-60710 18,174.98 1,825.02 90.87 %
001-401-60900 892.77 3,107.23 22.32 %
001-401-61130 563.67 -13.67 102.49 %
001-401-67705 1,741.48 318.52 84.54 %
45,787.59 36,974.41 55.32%
001-401-72300 4,124.12 3,525.88 53.91 %
4,124.12 3,525.88 53.91%
[a] 200,668.24 38,157.76 84.02%
001-402-50000 258,841.67 -3,541.67 101.39 %
001-402-50015 4,692.00 -180.00 103.99 %
001-402-50025 4,800.00 0.00 100.00 %
001-402-50120 4,080.20 -1,021.20 133.38 %
001-402-50130 196.65 59.35 76.82 %
001-402-50200 49,678.50 661.50 98.69 %
001-402-50300 2,296.03 252.97 90.08 %
001-402-50400 26,418.45 1,558.55 94.43 %
001-402-50410 14,785.79 318.21 97.89 %
001-402-50500 113.12 -3.12 102.84 %
365,902.41 -1,895.41 100.52%
001-402-60210 125.00 -25.00 125.00 %
001-402-60650 1,828.99 421.01 81.29 %
001-402-60710 6,895.45 604.55 91.94 %
001-402-60900 536.12 -36.12 107.22 %
001-402-61130 42.40 -42.40 0.00 %
9,427.96 922.04 91.09%
001-402-72200 0.00 796.00 0.00 %
001-402-72300 1,291.92 208.08 86.13 %
1,291.92 1,004.08 56.27%
[a] 376,622.29 30.71 99.99%
001-403-50000 118,527.98 -3,721.98 103.24 %
001-403-50030 0.00 0.00 0.00 %
001-403-50120 1,919.47 -254.47 115.28 %
001-403-50130 83.99 26.01 76.35 %
001-403-50200 21,442.88 -104.88 100.49 %
001-403-50300 1,565.52 172.48 90.08 %
001-403-50400 9,705.68 2,319.32 80.71 %
UI & Employee Training Tax 104.00 110.00
PERS Retirement 18,543.00 21,338.00
Workers Compensation 3,434.00 1,738.00
Medical Benefit 9,520.00 12,025.00
Department: 402 - CITY MANAGER Total: 350,556.00 376,653.00 Department: 403 - CITY CLERK
Category: 500 - Employee Services
Salaries 94,763.00 114,806.00
Hourly Employee 1,801.00 0.00
Employer SS/MC 1,512.00 1,665.00
Category: 600 - Operating & Maintenance Total: 7,000.00 10,350.00 Category: 700 - Capital
Office Furniture 796.00 796.00
Computer Equipment 0.00 1,500.00
Category: 700 - Capital Total: 796.00 2,296.00
Computer Maintenance &Software 100.00 100.00
Membership & Publications 2,150.00 2,250.00
Travel & Training 4,250.00 7,500.00
Miscellaneous 500.00 500.00
Office Supplies 0.00 0.00
Medical Benefit 26,307.00 27,977.00
Employer Paid DCP 14,141.00 15,104.00
Group Life Ins Benefit 101.00 110.00
Category: 500 - Employee Services Total: 342,760.00 364,007.00 Category: 600 - Operating & Maintenance
Car Allowance 4,800.00 4,800.00
Employer SS/MC 2,960.00 3,059.00
UI & Employee Training Tax 234.00 256.00
PERS Retirement 47,747.00 50,340.00
Workers Compensation 11,444.00 2,549.00
Category: 700 - Capital Total: 0.00 7,650.00
Department: 401 - CITY COUNCIL Total: 179,421.00 238,826.00 Salaries 230,927.00 255,300.00
Assistant City Manager Pay 4,099.00 4,512.00
Department: 402 - CITY MANAGER
Category: 500 - Employee Services
Office Supplies 525.00 550.00
Telephone 2,060.00 2,060.00
Category: 600 - Operating & Maintenance Total: 34,886.00 82,762.00 Computer Equipment 0.00 7,650.00
Category: 700 - Capital
Election Expense 7,210.00 53,000.00
Computer Maintenance &Software 3,152.00 3,152.00
Membership & Publications 0.00 0.00
Travel & Training 18,025.00 20,000.00
Miscellaneous 3,914.00 4,000.00
Medical Benefit 15,105.00 6,430.00
Employer Paid DCP 3,661.00 4,059.00
Group Life Ins Benefit 41.00 44.00
Category: 500 - Employee Services Total: 144,535.00 148,414.00 Category: 600 - Operating & Maintenance
Employer SS/MC 1,478.00 1,578.00
UI & Employee Training Tax 794.00 794.00
PERS Retirement 19,291.00 14,235.00
Workers Compensation 2,289.00 12,512.00
Revenue Total: 15,311,990.00 30,259,992.00
Salaries 63,176.00 70,062.00
Council Salaries 34,200.00 34,200.00
Council Car Allowance 4,500.00 4,500.00
Expense
Fund: 001 - General Fund Department: 401 - CITY COUNCIL Category: 500 - Employee Services
Transfer from Sewer Fund 550,000.00 550,000.00
Transfer from Water Fund 300,000.00 599,123.00
Transfer from ARPA Fund 0.00 675,743.00
Category: 495 - Client Review Total: 2,315,000.00 10,312,465.00 Fund: 092 - Capital Improvement Proj Fund Total: 2,315,000.00 10,312,465.00 Transfer from Gas Tax Fund 100,000.00 750,416.00
Transfer from General Fund 1,005,000.00 6,753,331.00
Transfer from Measure A 360,000.00 983,852.00
Fund: 092 - Capital Improvement Proj Fund
Category: 495 - Client Review
Original Current
Total Budget Total Budget

Fiscal Favorable Percent
Activity (Unfavorable) Used
001-403-50410 6,260.16 411.84 93.83 %
001-403-50500 75.27 -0.27 100.36 %
159,580.95 -1,151.95 100.73%
001-403-60012 2,386.00 1,614.00 59.65 %
001-403-60022 1,738.26 2,261.74 43.46 %
001-403-60210 0.00 550.00 0.00 %
001-403-60520 3,911.53 -111.53 102.94 %
001-403-60650 380.00 620.00 38.00 %
001-403-60710 6,005.30 949.70 86.35 %
001-403-60900 78.00 185.00 29.66 %
001-403-61130 353.35 196.65 64.25 %
001-403-67370 46,371.81 14,864.19 75.73 %
61,224.25 21,129.75 74.34%
001-403-72300 0.00 2,500.00 0.00 %

0.00 2,500.00 0.00%
[a] 220,805.20 22,477.80 90.76%
001-404-60840 [a] 207,903.60 -1,903.60 100.92 %
207,903.60 -1,903.60 100.92%
207,903.60 -1,903.60 100.92%
001-410-50400 [a] 152,335.87 15,809.13 90.60 %
152,335.87 15,809.13 90.60%
001-410-50600 [a] 76,824.60 -24.60 100.03 %
001-410-50610 [a] 20,752.00 2,548.00 89.06 %
001-410-60014 [a] 21,449.73 -11,449.73 214.50 %
001-410-60015 [a] 48,988.00 0.00 100.00 %
001-410-60210 [a,g] 67,679.15 -10,452.15 118.26 %
001-410-60211 [a] 666.43 988.57 40.27 %
001-410-60310 [g] 9,715.49 69.51 99.29 %
001-410-60650 [a] 18,453.00 1,532.00 92.33 %
001-410-60800 [a] 60,521.69 7,116.31 89.48 %
001-410-60900 [a] 12,326.05 -3,550.05 140.45 %
001-410-60905 [a] 122,500.00 2,500.00 98.00 %
001-410-60910 [a] 101.85 898.15 10.19 %
001-410-61130 [a] 11,123.63 -308.63 102.85 %
001-410-61131 [a] 1,825.13 -0.13 100.01 %
001-410-61210 [a] 3,157.44 -67.44 102.18 %
001-410-61211 [a] 5,273.56 -1,256.56 131.28 %
001-410-61230 [a] 2,481.96 -481.96 124.10 %
001-410-61241 [a] 10,778.41 -2,538.41 130.81 %
001-410-61292 [a] 5,627.65 1,582.35 78.05 %
001-410-61410 [a] 0.00 250.00 0.00 %
001-410-67200 [a] 42,642.00 0.00 100.00 %
001-410-67205 [a] 250,000.00 0.00 100.00 %
001-410-67430 [a] 2,870.00 313.00 90.17 %
001-410-67545 [g,j] 39,740.60 0.40 100.00 %
001-410-67620 [a] 3,355.00 16.00 99.53 %
001-410-67705 [a] 10,441.25 -1,891.25 122.12 %
001-410-67790 [a] 450,000.00 0.00 100.00 %
001-410-69100 [i] 0.00 28,466.00 0.00 %
001-410-69600 [a] 11,000.00 3,000.00 78.57 %
1,310,294.62 17,259.38 98.70%
001-410-72300 [a] 4,212.75 1,287.25 76.60 %
001-410-77000 [i] 2,978,211.58 3,735,119.42 44.36 %
2,982,424.33 3,736,406.67 44.39%
4,445,054.82 3,769,475.18 54.11%
001-420-50000 215,013.04 -15,910.04 107.99 %
001-420-50030 0.00 0.00 0.00 %
001-420-50120 3,390.68 -503.68 117.45 %
001-420-50130 184.86 94.14 66.26 %
001-420-50200 16,644.53 -836.53 105.29 %
001-420-50300 3,965.14 436.86 90.08 %
001-420-50400 24,614.26 6,365.74 79.45 %
Workers Compensation 4,006.00 4,402.00
Medical Benefit 22,627.00 30,980.00
Salaries 159,594.00 199,103.00
Hourly Employee 7,200.00 0.00
Employer SS/MC 2,761.00 2,887.00
UI & Employee Training Tax 268.00 279.00
PERS Retirement 12,084.00 15,808.00
Computer Equipment 5,500.00 5,500.00
Transfer Out for Capital Outlay 965,000.00 6,713,331.00 Category: 700 - Capital Total: 970,500.00 6,718,831.00
Department: 410 - NON-DEPARTMENTAL Total: 2,319,269.00 8,214,530.00 Department: 420 - FINANCE
Category: 500 - Employee Services
Transfer to Other Funds 30,535.00 28,466.00
Undesignated Misc Support 4,000.00 14,000.00
Category: 600 - Operating & Maintenance Total: 1,213,504.00 1,327,554.00 Category: 700 - Capital
LAFCO Contribution 3,183.00 3,183.00
Principal and Interest 39,741.00 39,741.00
SB Co Mntl Hlth Mbl Crisis Svc 3,371.00 3,371.00
Telephone 8,559.00 8,550.00
Visitors Bureau 450,000.00 450,000.00
Utilities - Electric 8,240.00 8,240.00
Internet Access/ Website Maint 7,210.00 7,210.00
Newsletter 0.00 250.00
Community Organization Support 42,642.00 42,642.00
Senior Center Support 140,406.00 250,000.00
Office Supplies 10,815.00 10,815.00
Postage 1,648.00 1,825.00
Utilities - Sewer 3,090.00 3,090.00
Utilities - Water 4,017.00 4,017.00
Utilities - Gas 3,090.00 2,000.00
Membership & Publications 19,985.00 19,985.00
Contract Services 67,638.00 67,638.00
Miscellaneous 8,776.00 8,776.00
CalPERS Unfunded Accrued Liability 125,000.00 125,000.00 Misc Recognition Items 1,000.00 1,000.00
Emergency Operations 10,000.00 10,000.00
Animal Control 48,988.00 48,988.00
Computer Maintenance &Software 46,350.00 57,227.00
Data Processing Contract Maint 1,655.00 1,655.00
Equipment Rental 9,785.00 9,785.00
Department: 410 - NON-DEPARTMENTAL
Category: 500 - Employee Services
Medical Benefit 135,265.00 168,145.00
Category: 500 - Employee Services Total: 135,265.00 168,145.00 Category: 600 - Operating & Maintenance
Insurance - Liability 86,480.00 76,800.00
Insurance - Property 27,300.00 23,300.00
Category: 600 - Operating & Maintenance
Contract Services-Legal Fees 206,000.00 206,000.00
Category: 600 - Operating & Maintenance Total: 206,000.00 206,000.00 Department: 404 - CITY ATTORNEY Total: 206,000.00 206,000.00 Category: 700 - Capital
Computer Equipment 0.00 2,500.00
Category: 700 - Capital Total: 0.00 2,500.00
Department: 403 - CITY CLERK Total: 211,478.00 243,283.00 Department: 404 - CITY ATTORNEY
Category: 500 - Employee Services
Travel & Training 3,090.00 6,955.00
Miscellaneous 263.00 263.00
Office Supplies 525.00 550.00
H/R Expense 61,236.00 61,236.00
Category: 600 - Operating & Maintenance Total: 76,248.00 82,354.00 Code Updates 3,296.00 4,000.00
Recruitment Expense 3,090.00 4,000.00
Computer Maintenance &Software 525.00 550.00
Advertising - Legal 3,605.00 3,800.00
Membership & Publications 618.00 1,000.00
Group Life Ins Benefit 61.00 75.00
Category: 500 - Employee Services Total: 135,230.00 158,429.00 Category: 600 - Operating & Maintenance
Employer Paid DCP 5,492.00 6,672.00
Original Current
Total Budget Total Budget

Fiscal Favorable Percent
Activity (Unfavorable) Used
001-420-50410 10,230.31 1,625.69 86.29 %
001-420-50500 178.69 11.31 94.05 %
274,221.51 -8,716.51 103.28%
001-420-60021 10,346.64 -46.64 100.45 %
001-420-60210 824.00 -309.00 160.00 %
001-420-60650 620.00 550.00 52.99 %
001-420-60710 1,458.08 2,661.92 35.39 %
001-420-60800 13,695.91 724.09 94.98 %
001-420-60900 382.24 -279.24 371.11 %
001-420-61130 709.01 290.99 70.90 %
28,035.88 3,592.12 88.64%
001-420-72100 705.80 -205.80 141.16 %
001-420-72200 430.14 -30.14 107.54 %
1,135.94 -235.94 126.22%
[a] 303,393.33 -5,360.33 101.80%
001-501-60270 6,006.64 4,293.36 58.32 %
001-501-60800 2,962,639.91 9,281.09 99.69 %
001-501-60810 273,236.00 -4,760.00 101.77 %
001-501-60825 0.00 0.00 0.00 %
001-501-61241 5,077.64 -374.64 107.97 %
001-501-61280 595.55 184.45 76.35 %
3,247,555.74 8,624.26 99.74%
3,750.00 0.00 100.00 %
3,750.00 0.00 100.00%
[d] 3,251,305.74 8,624.26 99.74%
001-510-60800 195,377.00 -1,648.00 100.85 %
001-510-60900 20,421.56 -1,421.56 107.48 %
001-510-61211 2,042.20 1,356.80 60.08 %
001-510-61230 59.30 1,176.70 4.80 %
001-510-61241 3,120.68 1,079.32 74.30 %
221,020.74 543.26 99.75%
001-510-72200 8,048.24 1.76 99.98 %
8,048.24 1.76 99.98%
[c] 229,068.98 545.02 99.76%
001-511-50000 267,780.65 -16,503.65 106.57 %
001-511-50030 34,240.75 35,206.25 49.30 %
001-511-50120 6,051.06 2,904.94 67.56 %
001-511-50130 893.02 615.98 59.18 %
001-511-50200 33,122.13 -1,390.13 104.38 %
001-511-50300 31,515.75 3,472.25 90.08 %
001-511-50400 48,773.78 2,007.22 96.05 %
001-511-50410 13,056.90 1,732.10 88.29 %
001-511-50500 310.31 -0.31 100.10 %
435,744.35 28,044.65 93.95%
001-511-60210 5,890.77 966.23 85.91 %
001-511-60211 8,442.80 1,857.20 81.97 %
001-511-60250 2,319.93 2,830.07 45.05 %
001-511-60252 0.00 10,300.00 0.00 %
001-511-60270 4,770.33 1,409.67 77.19 %
001-511-60310 1,485.94 284.06 83.95 %
001-511-60510 781.49 3,718.51 17.37 %
001-511-60710 299.65 1,760.35 14.55 %
001-511-60800 47,008.00 -16,008.00 151.64 %
001-511-60900 222.62 292.38 43.23 %
001-511-61130 2,753.52 -693.52 133.67 %
001-511-61280 3,919.25 5,556.75 41.36 %
001-511-61290 5,008.02 -682.02 115.77 %
001-511-67135 550.00 1,350.00 28.95 %
001-511-67140 65,415.85 19,044.15 77.45 %
001-511-67141 71,335.00 74,133.00 49.04 %
001-511-67142 2,267.37 732.63 75.58 %
001-511-67570 2,088.86 -88.86 104.44 %
224,559.40 106,762.60 67.78%
Arts and Culture 100,000.00 145,468.00
Arts and Culture Outreach 0.00 3,000.00
Recreation Program 50/50 2,575.00 2,000.00
Category: 600 - Operating & Maintenance Total: 297,672.00 331,322.00 Office Supplies 2,060.00 2,060.00
Fuel-Vehicles 9,476.00 9,476.00
Telephone/Internet 4,326.00 4,326.00
Buellton Rec Program Trips 2,575.00 1,900.00
Buellton Recreation Program 84,460.00 84,460.00
Equipment Rental 1,770.00 1,770.00
Advertising 16,043.00 4,500.00
Travel & Training 2,060.00 2,060.00
Contract Services 36,771.00 31,000.00
Miscellaneous 515.00 515.00
Computer Maintenance & Software 3,111.00 6,857.00
Data Processing Contract Maint 10,300.00 10,300.00
Maintenance/Repair 5,150.00 5,150.00
Maintenance/Repair-Joint Use 10,300.00 10,300.00
Maintenance-Vehicles 6,180.00 6,180.00
Medical Benefit 51,413.00 50,781.00
Employer Paid DCP 13,948.00 14,789.00
Group Life Ins Benefit 321.00 310.00
Category: 500 - Employee Services Total: 464,553.00 463,789.00 Category: 600 - Operating & Maintenance
Hourly Employees 85,640.00 69,447.00
Employer SS/MC 9,956.00 8,956.00
UI & Employee Training Tax 1,693.00 1,509.00
PERS Retirement 38,196.00 31,732.00
Workers Compensation 28,610.00 34,988.00
Category: 700 - Capital
Office Furniture 0.00 8,050.00
Category: 700 - Capital Total: 0.00 8,050.00
Department: 510 - LEISURE SERVICES - LIBRARY Total: 207,266.00 229,614.00 Department: 511 - RECREATION
Category: 500 - Employee Services
Salaries 234,776.00 251,277.00
Utilities - Gas 1,236.00 1,236.00
Utilities - Electric 3,090.00 4,200.00
Category: 600 - Operating & Maintenance Total: 207,266.00 221,564.00 Department: 501 - PUBLIC SAFETY - POLICE/FIRE Total: 2,860,557.00 3,259,930.00 Department: 510 - LEISURE SERVICES - LIBRARY
Category: 600 - Operating & Maintenance
Contract Services 199,541.00 193,729.00
Miscellaneous 0.00 19,000.00
Utilities - Water 3,399.00 3,399.00
Fuel - Vehicles 0.00 780.00
Category: 600 - Operating & Maintenance Total: 2,860,557.00 3,256,180.00 Category: 700 - Capital
001-501-73500 Equipment 0.00 3,750.00
Category: 700 - Capital Total: 0.00 3,750.00
Maintenance-Vehicles 0.00 10,300.00
Contract Services 2,587,378.00 2,971,921.00
Contract Services - Fire Dept 268,476.00 268,476.00
Contract Svcs-Police Sp.Events 0.00 0.00
Utilities - Electric 4,703.00 4,703.00
Office Equipment 500.00 500.00
Office Furniture 0.00 400.00
Category: 700 - Capital Total: 500.00 900.00
Department: 420 - FINANCE Total: 249,645.00 298,033.00
Department: 501 - PUBLIC SAFETY - POLICE/FIRE
Category: 600 - Operating & Maintenance
Contract Services 14,420.00 14,420.00
Miscellaneous 103.00 103.00
Office Supplies 773.00 1,000.00
Category: 600 - Operating & Maintenance Total: 31,401.00 31,628.00 Category: 700 - Capital
Category: 600 - Operating & Maintenance
Audit 10,300.00 10,300.00
Computer Maintenance &Software 515.00 515.00
Membership & Publications 1,170.00 1,170.00
Travel & Training 4,120.00 4,120.00
Employer Paid DCP 9,063.00 11,856.00
Group Life Ins Benefit 141.00 190.00
Category: 500 - Employee Services Total: 217,744.00 265,505.00 Original Current
Total Budget Total Budget

Fiscal Favorable Percent
Activity (Unfavorable) Used
001-511-72100 440.00 60.00 88.00 %
001-511-72300 1,000.00 0.00 100.00 %
001-511-73500 200.00 3,300.00 5.71 %
1,640.00 3,360.00 32.80%
[c] 661,943.75 138,167.25 82.73%
001-550-61241 [e] 58,090.64 15,409.36 79.03 %
58,090.64 15,409.36 79.03%
58,090.64 15,409.36 79.03%
001-551-60250 17,327.93 12,672.07 57.76 %
001-551-60650 597.14 102.86 85.31 %
001-551-60800 106,706.71 73,293.29 59.28 %
001-551-67575 12,914.51 162,085.49 7.38 %
137,546.29 248,153.71 35.66%
001-551-77000 0.00 40,000.00 0.00 %

0.00 40,000.00 0.00%
[e] 137,546.29 288,153.71 32.31%
6,259.43 -3,259.43 208.65 %

0.00 6,000.00 0.00 %
9,563.83 40,436.17 19.13 %
7,787.89 7,212.11 51.92 %
19,000.00 16,000.00 54.29 %
47,542.48 2,457.52 95.08 %
27,000.00 3,000.00 90.00 %
298,580.10 1,419.90 99.53 %
102.34 397.66 20.47 %
9,120.62 -2,120.62 130.29 %
88,876.66 -12,376.66 116.18 %
5,164.89 835.11 86.08 %
518,998.24 60,001.76 89.64%

0.00 5,000.00 0.00 %

0.00 5,000.00 0.00%
[e] 518,998.24 65,001.76 88.87%
7,446.60 17,553.40 29.79 %
161,906.69 -11,906.69 107.94 %
40,718.16 -2,718.16 107.15 %
4,688.53 261.47 94.72 %
214,759.98 3,190.02 98.54%
12,152.45 17,847.55 40.51 %
12,152.45 17,847.55 40.51%
[e] 226,912.43 21,037.57 91.52%
001-558-50000 406,103.09 -40,549.09 111.09 %
001-558-50030 0.00 0.00 0.00 %
001-558-50120 6,888.27 -1,587.27 129.94 %
001-558-50130 475.86 16.14 96.72 %
001-558-50200 43,500.35 -4,526.35 111.61 %
001-558-50300 7,826.69 862.31 90.08 %
001-558-50400 65,902.52 -11,501.52 121.14 %
001-558-50410 21,452.33 -1,558.33 107.83 %
001-558-50500 388.80 -53.80 116.06 %
552,537.91 -58,897.91 111.93%
001-558-60131 881.06 1,618.94 35.24 %
001-558-60210 10,373.79 -348.79 103.48 %
001-558-60250 165,371.84 48,628.16 77.28 %
001-558-60270 16,706.26 -6,706.26 167.06 %
001-558-60560 3,611.86 4,388.14 45.15 %
001-558-60650 501.00 349.00 58.94 %
001-558-60710 5,133.71 -2,133.71 171.12 %
001-558-60800 Contract Services 126,280.00 192,941.00 158,439.29 34,501.71 82.12 % Maintenance / Repair 70,000.00 214,000.00
Maintenance - Vehicles 10,000.00 10,000.00
Signs 8,000.00 8,000.00
Membership & Publications 850.00 850.00
Travel & Training 3,000.00 3,000.00
Group Life Ins Benefit 406.00 335.00
Category: 500 - Employee Services Total: 552,121.00 493,640.00 Category: 600 - Operating & Maintenance
Laundry / Uniforms 1,500.00 2,500.00
Computer Maintenance &Software 7,000.00 10,025.00
UI & Employee Training Tax 639.00 492.00
PERS Retirement 40,745.00 38,974.00
Workers Compensation 19,455.00 8,689.00
Medical Benefit 65,999.00 54,401.00
Employer Paid DCP 22,062.00 19,894.00
Department: 556 - PUBLIC WORKS - LANDSCAPE MAINTENANCE To… 187,300.00 247,950.00 Department: 558 - PUBLIC WORKS - GENERAL
Category: 500 - Employee Services
Salaries 391,709.00 365,554.00
Hourly Employees 5,040.00 0.00
Employer SS/MC 6,066.00 5,301.00
001-556-61241 Utilities - Electric 4,300.00 4,950.00
Category: 600 - Operating & Maintenance Total: 187,300.00 217,950.00 Category: 700 - Capital
001-556-74101 1000 Trees Program 0.00 30,000.00
Category: 700 - Capital Total: 0.00 30,000.00
Department: 556 - PUBLIC WORKS - LANDSCAPE MAINTENANCE
Category: 600 - Operating & Maintenance
001-556-60250 Maintenance/Repair 25,000.00 25,000.00
001-556-60800 Contract Services 120,000.00 150,000.00
001-556-61211 Utilities - Water 38,000.00 38,000.00
Category: 600 - Operating & Maintenance Total: 575,700.00 579,000.00 Category: 700 - Capital
001-552-73500 Equipment 5,000.00 5,000.00
Category: 700 - Capital Total: 5,000.00 5,000.00
Department: 552 - PUBLIC WORKS - PARKS Total: 580,700.00 584,000.00 001-552-61125 Small Equipment 500.00 500.00
001-552-61140 Operational Supplies 4,700.00 7,000.00
001-552-61211 Utilities - Water 76,500.00 76,500.00
001-552-61241 Utilities - Electric 4,000.00 6,000.00
001-552-60257 Maintenance/Repair-Paws Park 35,000.00 35,000.00 001-552-60258 Maintenance/Repair-River View 50,000.00 50,000.00 001-552-60259 Maintenance and Repair - Botanic … 30,000.00 30,000.00 001-552-60800 Contract Services 300,000.00 300,000.00
Department: 552 - PUBLIC WORKS - PARKS
Category: 600 - Operating & Maintenance
001-552-60059 Maintenance-Repair Village Park 5,000.00 3,000.00 001-552-60254 Maintenance/Repair-A&F Medians 10,000.00 6,000.00 001-552-60255 Maintenance/Repair-Golf Course 50,000.00 50,000.00 001-552-60256 Maintenance/Repair-Oak Park 10,000.00 15,000.00 Category: 700 - Capital
Transfer out for Capital Outlay 40,000.00 40,000.00
Category: 700 - Capital Total: 40,000.00 40,000.00
Department: 551 - STORM WATER Total: 280,700.00 425,700.00 Membership & Publications 700.00 700.00
Contract Services 160,000.00 180,000.00
Regulatory Compliance 50,000.00 175,000.00
Category: 600 - Operating & Maintenance Total: 240,700.00 385,700.00 Utilities - Electric 50,000.00 73,500.00
Category: 600 - Operating & Maintenance Total: 50,000.00 73,500.00 Department: 550 - PUBLIC WORKS - STREET LIGHTS Total: 50,000.00 73,500.00 Department: 551 - STORM WATER
Category: 600 - Operating & Maintenance
Maintenance / Repair 30,000.00 30,000.00
Computer Equipment 0.00 1,000.00
Equipment 0.00 3,500.00
Category: 700 - Capital Total: 0.00 5,000.00
Department: 511 - RECREATION Total: 762,225.00 800,111.00 Department: 550 - PUBLIC WORKS - STREET LIGHTS
Category: 600 - Operating & Maintenance
Category: 700 - Capital
Office Equipment 0.00 500.00
Original Current
Total Budget Total Budget

Fiscal Favorable Percent
Activity (Unfavorable) Used
575.02 424.98 57.50 %
1,349.87 1,150.13 53.99 %
407.92 192.08 67.99 %
5,608.82 -508.82 109.98 %
485.76 243.24 66.63 %
43,563.84 -3,783.84 109.51 %
220.83 729.17 23.25 %
9,731.87 -5,911.87 254.76 %
14,139.24 -3,139.24 128.54 %
17,843.62 -17,843.62 0.00 %
455.00 3,045.00 13.00 %
2,765.73 -765.73 138.29 %
2,824.09 -64.09 102.32 %
460,990.42 54,064.58 89.50%
1,246.36 2,753.64 31.16 %
[f] 125,365.97 -71,565.97 233.02 %
4,000.00 21,000.00 16.00 %
130,612.33 -47,812.33 157.74%
[e] 1,144,140.66 -52,645.66 104.82%
001-565-50000 263,240.98 44,032.02 85.67 %
001-565-50010 1,600.00 3,400.00 32.00 %
001-565-50030 108,011.04 6,988.96 93.92 %
001-565-50120 5,766.34 2,448.66 70.19 %
001-565-50130 445.16 179.84 71.23 %
001-565-50200 30,112.66 12,276.34 71.04 %
001-565-50300 8,870.68 977.32 90.08 %
001-565-50400 39,967.26 11,060.74 78.32 %
001-565-50410 11,290.74 11,101.26 50.42 %
001-565-50500 233.70 91.30 71.91 %
001-565-60715 2,485.02 6,784.98 26.81 %
472,023.58 99,341.42 82.61%
001-565-60210 1,974.41 12,065.59 14.06 %
001-565-60250 0.00 200.00 0.00 %
001-565-60310 7,043.83 206.17 97.16 %
001-565-60520 3,176.04 -176.04 105.87 %
001-565-60650 200.00 1,650.00 10.81 %
001-565-60710 6,833.49 1,406.51 82.93 %
001-565-60800 37,765.40 13,434.60 73.76 %
001-565-60830 46,512.46 7,887.54 85.50 %
001-565-60840 1,759.40 -1,759.40 0.00 %
001-565-60850 0.00 75,000.00 0.00 %
001-565-60855 141,203.35 33,796.65 80.69 %
001-565-60900 3,100.00 0.00 100.00 %
001-565-61130 1,987.53 12.47 99.38 %
001-565-61131 0.00 25.00 0.00 %
001-565-61241 8,917.19 -3,487.19 164.22 %
001-565-67705 2,733.73 81.27 97.11 %
263,206.83 140,343.17 65.22%
001-565-72100 500.00 0.00 100.00 %
001-565-72200 0.00 500.00 0.00 %
Fiscal
Activity
Favorable
(Unfavorable)
Percent
Used
001-565-72300 272.88 227.12 54.58 %
772.88 727.12 51.53%
[b] 736,003.29 240,411.71 75.38%
12,718,457.50 4,547,582.50 73.66%
023-580-67470 [b] 1,300.00 1,700.00 43.33 %
1,300.00 1,700.00 43.33%
1,300.00 1,700.00 43.33%
1,300.00 1,700.00 43.33%
025-554-60800 92,561.21 -7,561.21 108.90 %
025-554-60830 9,635.00 5,365.00 64.23 %
025-554-67265 0.00 20,000.00 0.00 %
Fund: 023 - Housing Fees Total: 3,000.00 3,000.00
Fund: 025 - Gas Tax Fund
Department: 554 - TRAFFIC SAFETY Category: 600 - Operating & Maintenance Contract Services 85,000.00 85,000.00
Contract Services - Engineering 15,000.00 15,000.00
Encroachment Permit Processing 20,000.00 20,000.00
Fund: 001 - General Fund Total: 10,117,712.00 17,266,040.00 Fund: 023 - Housing Fees
Department: 580 - HOUSING
Category: 600 - Operating & Maintenance
Mobile Home Repair 3,000.00 3,000.00
Category: 600 - Operating & Maintenance Total: 3,000.00 3,000.00 Department: 580 - HOUSING Total: 3,000.00 3,000.00
Office Furniture 500.00 500.00
Original
Total Budget
Current
Total Budget
Computer Equipment 500.00 500.00
Category: 700 - Capital Total: 1,500.00 1,500.00
Department: 565 - PLANNING Total: 776,599.00 976,415.00 Utilities - Electric 5,430.00 5,430.00
Telephone 2,815.00 2,815.00
Category: 600 - Operating & Maintenance Total: 260,110.00 403,550.00 Category: 700 - Capital
Office Equipment 500.00 500.00
Comprehensive Zoning Code Update 75,000.00 75,000.00
Comprehensive General Plan Update 75,000.00 175,000.00
Miscellaneous 1,100.00 3,100.00
Office Supplies 2,000.00 2,000.00
Postage 25.00 25.00
Membership & Publications 1,850.00 1,850.00
Travel & Training 8,000.00 8,240.00
Contract Services 20,000.00 51,200.00
Contract Services-Engineering 54,400.00 54,400.00
Contract Services-Legal Fees 0.00 0.00
Category: 600 - Operating & Maintenance
Computer Maintenance &Software 4,040.00 14,040.00
Maintenance / Repair 200.00 200.00
Equipment Rental 7,250.00 7,250.00
Advertising - Legal 3,000.00 3,000.00
Medical Benefit 47,886.00 51,028.00
Employer Paid DCP 20,003.00 22,392.00
Group LIfe Ins Benefit 306.00 325.00
Travel & Training - Planning Comissi… 9,000.00 9,270.00 Category: 500 - Employee Services Total: 514,989.00 571,365.00 Hourly Employee 41,099.00 115,000.00
Employer SS/MC 7,987.00 8,215.00
UI & Employee Training Tax 596.00 625.00
PERS Retirement 37,196.00 42,389.00
Workers Compensation 11,444.00 9,848.00
Category: 700 - Capital Total: 45,000.00 82,800.00
Department: 558 - PUBLIC WORKS - GENERAL Total: 895,996.00 1,091,495.00 Department: 565 - PLANNING
Category: 500 - Employee Services
Salaries 334,472.00 307,273.00
Planning Commission Salaries 5,000.00 5,000.00
Category: 600 - Operating & Maintenance Total: 298,875.00 515,055.00 Category: 700 - Capital
001-558-72300 Computer Equipment 2,000.00 4,000.00
001-558-73500 Equipment 18,000.00 53,800.00
001-558-74100 Improvements 25,000.00 25,000.00
001-558-61280 Fuel - Vehicles 11,000.00 11,000.00
001-558-67545 Principal and Interest 0.00 0.00
001-558-67575 Regulatory Compliance 3,500.00 3,500.00
001-558-67600 Safety Equipment 2,000.00 2,000.00
001-558-67705 Telephone 2,760.00 2,760.00
001-558-61140 Operational Supplies 5,100.00 5,100.00
001-558-61210 Utilities - Sewer 729.00 729.00
001-558-61211 Utilities - Water 39,780.00 39,780.00
001-558-61230 Utilities - Gas 950.00 950.00
001-558-61241 Utilities - Electric 2,326.00 3,820.00
001-558-60900 Miscellaneous 1,000.00 1,000.00
001-558-61127 Tools 2,500.00 2,500.00
001-558-61130 Office Supplies 600.00 600.00
Original Current
Total Budget Total Budget

Fiscal Favorable Percent
Activity (Unfavorable) Used
025-554-67695 2,000.00 0.00 100.00 %
[e] 104,196.21 17,803.79 85.41%
025-554-77000 [i] 360,219.14 390,196.86 48.00 %
360,219.14 390,196.86 48.00%
464,415.35 408,000.65 53.23%
025-557-60800 [e] 32,510.00 -32,510.00 0.00 %
32,510.00 -32,510.00 0.00%
32,510.00 -32,510.00 0.00%
496,925.35 375,490.65 56.96%
027-559-67115 0.00 0.00 0.00 %
027-559-67445 19,999.92 0.08 100.00 %
027-559-67685 2,000.00 0.00 100.00 %
027-559-69400 0.00 50,000.00 0.00 %
[e] 21,999.92 50,000.08 30.56%
21,999.92 50,000.08 30.56%
21,999.92 50,000.08 30.56%
029-557-60800 [e] 50,584.96 -5,584.96 112.41 %
50,584.96 -5,584.96 112.41%
50,584.96 -5,584.96 112.41%
50,584.96 -5,584.96 112.41%
031-560-69100 [i] 30,000.00 0.00 100.00 %
30,000.00 0.00 100.00%
Fiscal
Activity
Favorable
(Unfavorable)
Percent
Used
031-560-77000 [i] 243,814.92 740,037.08 24.78 %
243,814.92 740,037.08 24.78%
273,814.92 740,037.08 27.01%
273,814.92 740,037.08 27.01%
032-567-77000 [i] 268,035.48 407,707.52 39.67 %
268,035.48 407,707.52 39.67%
268,035.48 407,707.52 39.67%
268,035.48 407,707.52 39.67%

0.00 40,000.00 0.00 %

0.00 40,000.00 0.00%

0.00 40,000.00 0.00%
092-207-70000 30,000.00 -30,000.00 0.00 %
092-207-70005 0.00 425,000.00 0.00 %
30,000.00 395,000.00 7.06%
30,000.00 395,000.00 7.06%
500.00 -500.00 0.00 %

0.00 75,000.00 0.00 %

0.00 75,000.00 0.00 %

0.00 700,000.00 0.00 %
500.00 849,500.00 0.06%
500.00 849,500.00 0.06%
Original Current
Total Budget Total Budget
092-212-74100 Construction/Improvement 700,000.00 700,000.00 Category: 700 - Capital Total: 850,000.00 850,000.00
Department: 212 - The Avenue Median 3 Improvement Total: 850,000.00 850,000.00 Department: 207 - Santa Ynez River Trail Total: 75,000.00 425,000.00 Department: 212 - The Avenue Median 3 Improvement
Category: 700 - Capital
092-212-70000 Conceptual Plan and Feasibility 0.00 0.00 092-212-70005 Design/Permitting 75,000.00 75,000.00
092-212-71500 Project Management/Inspection 75,000.00 75,000.00 Department: 102 - Storm Drain Outfall Repairs and Re-Establishme… 40,000.00 40,000.00 Department: 207 - Santa Ynez River Trail
Category: 700 - Capital
Conceptual Plan and Feasibility 0.00 0.00
Design/Permitting 75,000.00 425,000.00
Category: 700 - Capital Total: 75,000.00 425,000.00
Department: 567 - ARPA Total: 0.00 675,743.00
Fund: 032 - American Rescue Plan Act Fund Total: 0.00 675,743.00 Fund: 092 - Capital Improvement Proj Fund
Department: 102 - Storm Drain Outfall Repairs and Re-Establishment Category: 700 - Capital 092-102-71500 Project Management/Inspection 40,000.00 40,000.00 Category: 700 - Capital Total: 40,000.00 40,000.00
Department: 560 - MEASURE A Total: 457,000.00 1,013,852.00 Fund: 031 - Measure A Total: 457,000.00 1,013,852.00
Fund: 032 - American Rescue Plan Act Fund
Department: 567 - ARPA Category: 700 - Capital
Transfers out to CIP 0.00 675,743.00
Category: 700 - Capital Total: 0.00 675,743.00
Transfer to Other Funds 97,000.00 30,000.00
Category: 600 - Operating & Maintenance Total: 97,000.00 30,000.00 Original
Total Budget
Category: 700 - Capital
Current
Total Budget
Capital Outlay 360,000.00 983,852.00
Category: 700 - Capital Total: 360,000.00 983,852.00
Contract Services 45,000.00 45,000.00
Category: 600 - Operating & Maintenance Total: 45,000.00 45,000.00 Department: 557 - PUBLIC WORKS - ENGINEERING Total: 45,000.00 45,000.00 Fund: 029 - Transportation Planning Total: 45,000.00 45,000.00 Fund: 031 - Measure A
Department: 560 - MEASURE A
Category: 600 - Operating & Maintenance
Transfer to Reserves 50,000.00 50,000.00
Category: 600 - Operating & Maintenance Total: 137,000.00 72,000.00 Department: 559 - TDA GRANT Total: 137,000.00 72,000.00 Fund: 027 - Local Transportation Fund Total: 137,000.00 72,000.00 Fund: 029 - Transportation Planning
Department: 557 - PUBLIC WORKS - ENGINEERING
Category: 600 - Operating & Maintenance
Fund: 025 - Gas Tax Fund Total: 222,000.00 872,416.00
Fund: 027 - Local Transportation Fund
Department: 559 - TDA GRANT
Category: 600 - Operating & Maintenance
Breeze Extension Pilot 65,000.00 0.00
Lompoc- Wine Country Express 20,000.00 20,000.00
SYVT Dial-A-Ride Subsidy 2,000.00 2,000.00
Department: 554 - TRAFFIC SAFETY Total: 222,000.00 872,416.00 Department: 557 - PUBLIC WORKS - ENGINEERING
Category: 600 - Operating & Maintenance
Contract Services 0.00 0.00
Category: 600 - Operating & Maintenance Total: 0.00 0.00 Department: 557 - PUBLIC WORKS - ENGINEERING Total: 0.00 0.00 Annual Street Report 2,000.00 2,000.00
Category: 600 - Operating & Maintenance Total: 122,000.00 122,000.00 Category: 700 - Capital
Capital Outlay 100,000.00 750,416.00
Category: 700 - Capital Total: 100,000.00 750,416.00

Fiscal Favorable Percent
Activity (Unfavorable) Used

0.00 40,000.00 0.00 %

0.00 40,000.00 0.00%

0.00 40,000.00 0.00%

0.00 80,000.00 0.00 %

0.00 80,000.00 0.00%

0.00 80,000.00 0.00%
092-220-70005 58,604.50 16,395.50 78.14 %
092-220-71500 44,206.25 55,793.75 44.21 %
092-220-74100 341,050.19 858,949.81 28.42 %
443,860.94 931,139.06 32.28%
443,860.94 931,139.06 32.28%
092-221-70005 37,100.00 0.00

0.00 0.00 0.00 %
14,922.00 60,078.00 19.90 %
1,711,488.95 276,079.05 86.11 %
1,732,096.70 367,571.30 82.49%
1,732,096.70 367,571.30 82.49%

0.00 10,000.00 0.00 %
86,867.51 88,017.49 49.67 %
86,867.51 98,017.49 46.98%
86,867.51 98,017.49 46.98%
73,886.62 231,369.38 24.20 %
112,897.50 82,102.50 57.90 %
820,549.24 257,488.76 76.12 %
1,007,333.36 570,960.64 63.82%
1,007,333.36 570,960.64 63.82%

0.00 50,000.00 0.00 %

0.00 50,000.00 0.00%

0.00 50,000.00 0.00%
115,893.55 -76,141.55 291.54 %

0.00 100,000.00 0.00 %

0.00 75,000.00 0.00 %

0.00 200,000.00 0.00 %
115,893.55 298,858.45 27.94%
115,893.55 298,858.45 27.94%

0.00 0.00 0.00 %

0.00 0.00 0.00%

0.00 0.00 0.00%
39,405.00 40,595.00 49.26 %
4,445.00 75,555.00 5.56 %
121,843.58 518,156.42 19.04 %
165,693.58 634,306.42 20.71%
165,693.58 634,306.42 20.71%

0.00 75,000.00 0.00 %

0.00 75,000.00 0.00 %

0.00 350,000.00 0.00 %

0.00 500,000.00 0.00%

0.00 500,000.00 0.00%
Original Current
Total Budget Total Budget
092-214-74100 Construction and Improvement 0.00 40,000.00 Department: 214 - City Hall Generator/Electrical Replacement Category: 700 - Capital
092-323-74100 Construction and Improvements (2… 350,000.00 350,000.00 Category: 700 - Capital Total: 500,000.00 500,000.00
Department: 323 - Road Maintenance (2024-25) Total: 500,000.00 500,000.00 Category: 700 - Capital Total: 0.00 800,000.00
Department: 322 - Road Maintenance (2023-24) Total: 0.00 800,000.00 Department: 323 - Road Maintenance (2024-25)
Category: 700 - Capital
092-323-70005 Design and Permitting (2024/25) 75,000.00 75,000.00 092-323-71500 Project Management and Inspection… 75,000.00 75,000.00 Department: 321 - Road Maintenance (2022/23) Total: 0.00 0.00 Department: 322 - Road Maintenance (2023-24)
Category: 700 - Capital
092-322-70005 Design and Permitting (2023/24) 0.00 80,000.00 092-322-71500 Project Management & Inspection (… 0.00 80,000.00 092-322-74100 Construction and Improvement (20… 0.00 640,000.00 Category: 700 - Capital Total: 0.00 414,752.00
Department: 309 - West Highway 246 Safety Improvements Total: 0.00 414,752.00 Department: 321 - Road Maintenance (2022/23)
Category: 700 - Capital
092-321-71500 Road Maintenance (2022/23) 0.00 0.00
Category: 700 - Capital Total: 0.00 0.00
Department: 309 - West Highway 246 Safety Improvements
Category: 700 - Capital
092-309-70000 Conceptual Plan and Feasibility 0.00 39,752.00 092-309-70005 Design and Permitting 0.00 100,000.00
092-309-71500 Project Management and Inspection 0.00 75,000.00 092-309-74100 Construction and Improvements 0.00 200,000.00 Department: 307 - McMurray Road Widening/TS (13/14) Total: 0.00 1,578,294.00 Department: 308 - No. Ave of the Flags Park and Ride
Category: 700 - Capital
092-308-70005 Design and Permitting 0.00 50,000.00
Category: 700 - Capital Total: 0.00 50,000.00
Department: 308 - No. Ave of the Flags Park and Ride Total: 0.00 50,000.00 Department: 307 - McMurray Road Widening/TS (13/14)
Category: 700 - Capital
092-307-71200 Right of Way Acquistion 0.00 305,256.00
092-307-71500 Project Management and Inspectio… 0.00 195,000.00 092-307-74100 Construction and Improvements 0.00 1,078,038.00 Category: 700 - Capital Total: 0.00 1,578,294.00
Department: 223 - SYVCO CDBG 140 Highway 246 TI Improvements Category: 700 - Capital
092-223-71500 Project Management and Inspectio… 0.00 10,000.00 092-223-74100 Construction and Improvements 0.00 174,885.00 Category: 700 - Capital Total: 0.00 184,885.00
Department: 223 - SYVCO CDBG 140 Highway 246 TI Improvements 0.00 184,885.00 092-221-71500 Project Management and Inspectio… 0.00 75,000.00 092-221-74100 Construction/Improvements 0.00 1,987,568.00 Category: 700 - Capital Total: 0.00 2,099,668.00
Department: 221 - Willemsen House Renovation Total: 0.00 2,099,668.00 Construction/Improvements 0.00 1,200,000.00
Category: 700 - Capital Total: 0.00 1,375,000.00
Department: 220 - Willemsen Parking Lot Total: 0.00 1,375,000.00 Department: 221 - Willemsen House Renovation
Category: 700 - Capital
Design and Permitting 0.00
Category: 700 - Capital Total: 0.00 80,000.00
Department: 217 - River View Park Basketball Court Resurfacing To… 0.00 80,000.00 Department: 220 - Willemsen Parking Lot
Category: 700 - Capital
Design and Permitting 0.00 75,000.00
Project Management and Inspection 0.00 100,000.00
Category: 700 - Capital Total: 0.00 40,000.00
Department: 214 - City Hall Generator/Electrical Replacement Total: 0.00 40,000.00 Department: 217 - River View Park Basketball Court Resurfacing Category: 700 - Capital
092-217-74100 Construction and Improvement 0.00 80,000.00

Fiscal Favorable Percent
Activity (Unfavorable) Used
092-401-74100 0.00 50,000.00 0.00 %

0.00 50,000.00 0.00%

0.00 50,000.00 0.00%

0.00 150,000.00 0.00 %

0.00 150,000.00 0.00%

0.00 150,000.00 0.00%

0.00 100,000.00 0.00 %

0.00 100,000.00 0.00%

0.00 100,000.00 0.00%

0.00 50,000.00 0.00 %

0.00 50,000.00 0.00%

0.00 50,000.00 0.00%

0.00 100,000.00 0.00 %

0.00 100,000.00 0.00%

0.00 100,000.00 0.00%
092-613-71500 0.00 88,373.00 0.00 %
092-613-74100 0.00 786,493.00 0.00 %

0.00 874,866.00 0.00%

0.00 874,866.00 0.00%
092-704-71500 0.00 50,000.00 0.00 %
092-704-74100 0.00 200,000.00 0.00 %

0.00 250,000.00 0.00%

0.00 250,000.00 0.00%

0.00 300,000.00 0.00 %

0.00 300,000.00 0.00%

0.00 300,000.00 0.00%
[f] 3,582,245.64 6,730,219.36 34.74%
17,413,363.77 12,847,152.23 57.54%
-272,288.08 -271,764.08 51963.37%
Fiscal
Activity
-377,275.43
-655.04
9,192.01
-119,030.17
25,058.02
-28,046.70
201,271.59

0.00 17,197.64

0.00 -272,288.08
032 - American Rescue Plan Act 0.00 0.00 0.00
075 - Trust & Agency Fund 0.00 0.00 17,197.64
092 - Capital Improvement Proj Fu 0.00 0.00 0.00
Report Surplus (Deficit): 2,015,278.00 -524.00 -271,764.08 025 - Gas Tax Fund 136,240.00 0.00 -119,030.17
027 - Local Transportation Fund 0.00 0.00 25,058.02
029 - Transportation Planning 306.00 300.00 -28,346.70
031 - Measure A 5,937.00 0.00 201,271.59
Fund Summary Variance
Fund Original
Total Budget
Current
Total Budget
Favorable
(Unfavorable)
001 - General Fund 1,869,595.00 1.00 -377,276.43
023 - Housing Fees 2,800.00 -1,700.00 1,044.96
024 - Traffic Mitigation Fund 400.00 875.00 8,317.01
Department: 706 - WWTP Facilities Improvement Total: 300,000.00 300,000.00 Fund: 092 - Capital Improvement Proj Fund Total: 2,315,000.00 10,312,465.00 Expense Total: 13,296,712.00 30,260,516.00
Report Surplus (Deficit): 2,015,278.00 -524.00
Category: 700 - Capital Total: 250,000.00 250,000.00
Department: 704 - Sewer Line Replacement Total: 250,000.00 250,000.00 Department: 706 - WWTP Facilities Improvement Category: 700 - Capital 092-706-74100 Construction and Improvements 300,000.00 300,000.00 Category: 700 - Capital Total: 300,000.00 300,000.00
Category: 700 - Capital Total: 0.00 874,866.00
Department: 613 - Res No2 Reroof Total: 0.00 874,866.00 Department: 704 - Sewer Line Replacement
Category: 700 - Capital
Project Management and Inspectio… 50,000.00 50,000.00
Construction and Improvements 200,000.00 200,000.00
Category: 700 - Capital Total: 100,000.00 100,000.00
Department: 610 - Water Distribution System Improvements Total: 100,000.00 100,000.00 Department: 613 - Res No2 Reroof
Category: 700 - Capital
Project Management and Inspectio… 0.00 88,373.00
Construction/Improvements 0.00 786,493.00
092-609-70000 Conceptual Plan and Feasibility 50,000.00 50,000.00 Category: 700 - Capital Total: 50,000.00 50,000.00
Department: 609 - Supplemental Well/WTP Feasibility Total: 50,000.00 50,000.00 Department: 610 - Water Distribution System Improvements Category: 700 - Capital
092-610-74100 Construction and Improvements 100,000.00 100,000.00 Category: 700 - Capital
092-605-74100 Construction and Improvements 0.00 100,000.00 Category: 700 - Capital Total: 0.00 100,000.00
Department: 605 - WTP Backwash Reclamation Improvement Proje… 0.00 100,000.00 Department: 609 - Supplemental Well/WTP Feasibility
Category: 700 - Capital
092-603-74100 Construction and Improvements 150,000.00 150,000.00 Category: 700 - Capital Total: 150,000.00 150,000.00
Department: 603 - WTP Facilities Improvement (13/14) Total: 150,000.00 150,000.00 Department: 605 - WTP Backwash Reclamation Improvement Project Total Budget Total Budget
Department: 401 -River View Park Misc. improvement
Category: 700 - Capital
Construction and Improvements 0.00 50,000.00
Category: 700 - Capital Total: 0.00 50,000.00
Department: 401 - RVP Imrovement Total: 0.00 50,000.00
Department: 603 - WTP Facilities Improvement (13/14)
Category: 700 - Capital
Original Current

Governmental Funds - Reconciliation Pg. 31
Statement of Revenues, Expenditures, and Changes in Fund Balances For the Fiscal Year Ended June 30, 2025
Governmental Total ACFR Variance
Revenues:

Taxes [1] $ 10,266,243.12 $ 10,266,245 $ 1.88
Licenses, permits and fees [2] $ 53,466.00 53,466 -
Intergovernmental [3]
001-General $ 987,698.86
025-Gas Tax 355,125.03
027-LTF 4,536.64
029-Transportation Planning 21,999.92
031-Measure A 440,293.68
032-ARPA 267,172.45
Total Intergovernmental 2,076,826.58 2,076,827 0.42
Charges for Services [4] $ 313,705.50 313,705 (0.50)
Fines and Forefeitures [5] $ 30,485.77 30,487 1.23
Use of money and property [6] $ 671,449.64 671,444 (5.64) Other [7] $ 24,852.33 24,851 (1.33)
Total Revenues $ 13,437,028.94 $ 13,437,025 (3.94)
Expenditures:

General government [a]
401-City Council 200,668.24
402-City Manager 376,622.29
403-City Clerk 220,805.20
404-City Attorney 162,376.60
410-Non-Departmental* 1,427,102.64
420-Finance 303,393.33
General Government Total: 2,690,968.30 2,690,968 (0.30) Community development [b]
565-Planning 736,003.29
023-Housing 1,300.00
737,303.29 737,302 (1.29)
Cultural and leisure [c]
510-Library Services 229,068.98
511-Recreation 661,943.75
891,012.73 891,013 0.27
Public Safety [d]
501- Police/Fire 3,251,305.74 3,251,306 0.26
Public Works [e]
550- Street Lights 58,090.64
551-Storm Water 137,546.29
552-Parks 518,998.24
553-Gas Tax
554-Traffic Safety 104,196.21
556-Landscape Maintenance 226,912.43
557- Engineering 83,094.96
558-Public Works - General 1,034,498.69
559-TDA Grant 21,999.92
Total Public Works 2,185,337.38 2,185,337 (0.38)
Governmental Total ACFR Variance
Capital Outlay [f] 3,702,693.61 3,702,693 (0.61)
Debt Service [g]
Principal 74,464.00 49,999 (24,465.00)
Interest 24,465 24,465.00
Total Expenditures 13,533,085.05 13,533,083 (2.05)
Excess of revenues over(under) expenditures (96,056.11) (96,058.00) (1.89) Other Financing sources (uses):

Proceeds from issuance of notes payable [j] 91,801 91,801 (0.11) Transfer in [h] 3,612,246 3,612,245 (0.64)
Transfers out [i] (3,880,281) (3,880,281) 0.12
Total other financing sources (uses) (176,234) (176,235) (0.63) Net Change in fund balance $ (272,290.48) (272,293) $ (2.52) * Exludes transfers out for capital projects
Total Revenue 17,141,075.69 17,141,071.00 (4.69)
Total Expenditures (17,413,366.17) (17,413,364.00) 2.17 Net Change (272,290.48) (272,293.00) (2.52)

Percent
Used
30,150.47 102.5
160.00 124.62
3,071.69 161.43
[1] 33,382.16 102.75%
[8] 268,300.40 0
268,300.40 0
[1] 3,491.66 0
3,491.66 0
[6] 4,674.21 115.58
4,674.21 115.58%
(1,241,230.00) 0
(315,000.00) 0
(1,556,230.00) 0
(1,246,381.57) 55.47%
(2,310.64) 100.55
(935.76) 115.46
137.93 74.31
(7,600.52) 113.66
1,138.29 90.08
(10,444.50) 117.55
1,160.39 95.13

6.44 98.24
[3] (18,848.37) 1.032793
[4] (282.20) 102.94
[4] 1,545.00 92.64
[4] (46.68) 100.45
[4] 2,206.45 11.74
[4] (4,647.60) 123.24
[4] 514.88 96.32
[4] (127,754.21) 185.17
[4] 280.38 96.5
[4] 1,459.50 18.92
[4] 2,490.81 37.73
[4] (69,946.73) 120.85
[4] 24,410.04 56.41
[4] 250.00 0
[4] (1,250.00) 105
[4] 4,443.25 87.55
[4] 169.89 91.51
[4] (276.17) 113.81
005-701-61131 Postage 5000 5,000.00 [4] 8,974.29 (3,974.29) 179.49 005-701-61127 Tools 2000 2,000.00 1,830.11
005-701-61130 Office Supplies 2000 2,000.00 2,276.17
005-701-60905 CalPERS Unfunded Accrued Liability 25000 25,000.00 26,250.00 005-701-61111 Chemicals / Analysis 35700 35,700.00 31,256.75 005-701-60830 Contract Services-Engineering 56000 56,000.00 31,589.96 005-701-60900 Miscellaneous 250 250.00 -
005-701-60710 Travel & Training 4000 4,000.00 1,509.19
005-701-60800 Contract Services 305460 335,460.00 405,406.73 005-701-60270 Maintenance - Vehicles 8000 8,000.00 7,719.62 005-701-60650 Membership & Publications 1800 1,800.00 340.50 005-701-60211 Data Processing Contract Maint 10506 14,000.00 13,485.12 005-701-60250 Maintenance / Repair 150000 150,000.00 277,754.21 005-701-60131 Laundry / Uniforms 1500 2,500.00 293.55
005-701-60210 Computer Maintenance &Software 19000 20,000.00 24,647.60 005-701-50610 Insurance - Property 27300 21,000.00 19,455.00 005-701-60021 Audit 10300 10,300.00 10,346.68
Category: 500 - Employee Services Total: 561193 574,772.00 593,620.37 Category: 600 - Operating & Maintenance
005-701-50600 Insurance - Liability 10810 9,600.00 9,882.20 005-701-50410 Employer Paid DCP 22414 23,846.00 22,685.61 005-701-50500 Group Life Ins Benefit 366 365.00 358.56
005-701-50300 Workers Compensation 16880 11,470.00 10,331.71 005-701-50400 Medical Benefit 59489 59,497.00 69,941.50 005-701-50130 UI & Employee Training Tax 537 537.00 399.07 005-701-50200 PERS Retirement 52176 55,621.00 63,221.52 Category: 500 - Employee Services
005-701-50000 Salaries 403480 417,384.00 419,694.64
005-701-50120 Employer SS/MC 5851 6,052.00 6,987.76
Category: 495 - Client Review Total: 1462667 1,556,230.00 - Revenue Total: 2700317 2,798,880.00 1,552,498.43
Expense
Category: 495 - Client Review
005-49652 Transfer from Reserves 1147667 1,241,230.00 - 006-49729 Transfer from Sewer Fund 315000 315,000.00 -
Category: 490 - Use of Monies & Properties
005-44105 Interest 25000 30,000.00 34,674.21
Category: 490 - Use of Monies & Properties Total: 25000 30,000.00 34,674.21 Category: 442 - Misc
005-44250 Miscellaneous 0 - 3,491.66
Category: 442 - Misc Total: 0 - 3,491.66
Category: 441 - Wastewater Enterprise
006-44115 Connection Fees 0 - 268,300.40
Category: 441 - Wastewater Enterprise Total: 0 - 268,300.40 005-44125 Late Charges 5000 5,000.00 8,071.69
Category: 440 - Charges for Current Services Total: 1212650 1,212,650.00 1,246,032.16 Revenue
Category: 440 - Charges for Current Services
005-44110 Sales 1207000 1,207,000.00 1,237,150.47
005-44120 Set-Up Fees 650 650.00 810.00
2024-25 Revenue and Expense Report
City of Buellton, CA Proprietary Funds - Wastewater Funds For Fiscal: 2024-2025 Period Ending: 06/30/2025
Variance
Favorable
(Unfavorable)
Original
Total Budget
Current
Total Budget
Fiscal
Activity
0

Percent
Used
[4] 1,899.02 57.8
[4] (8,265.08) 125.99
[4] (16,145.38) 125.23
[4] 2,555.86 76.76
[7] 27,812.02 54.85
[4] 8,401.98 79
[4] 2,445.97 30.12
[4] 1,908.99 52.28
[5] 37,113.90 87.03
565,000.00 0
300,000.00 0
[5] (92,031.35) 713.54
- 0
660,288.25 68.39%
[4] 1,753.63 41.55
110,000.00 0
[4] 20,039.91 8.91
131,793.54 2.38%
773,233.42 72.37%
(473,148.15) 0.00%
Category: 700 - Capital Total: 78000 135,000.00 3,206.46 Expense Total: 2700317 2,798,880.00 2,025,646.58
Report Surplus (Deficit): 0 - (473,148.15)
005-701-73100 Vehicles 60000 110,000.00 -
005-701-73500 Equipment 18000 22,000.00 1,960.09
Category: 600 - Operating & Maintenance Total: 2061124 2,089,108.00 1,428,819.75 Category: 700 - Capital
005-701-72300 Computer Equipment 0 3,000.00 1,246.37
006-701-68110 Depreciation 15000 15,000.00 107,031.35
006-702-69100 Transfer to Other Funds 0 - -
005-701-69100 Transfer to Other Funds 565000 565,000.00 - 006-700-69100 Wastewater Capital Transfer to Othe 300000 300,000.00 - 005-701-67705 Telephone 4000 4,000.00 2,091.01
005-701-68110 Depreciation 286100 286,100.00 248,986.10 005-701-67575 Regulatory Compliance 40000 40,000.00 31,598.02 005-701-67600 Safety Equipment 3500 3,500.00 1,054.03
005-701-61280 Fuel - Vehicles 11000 11,000.00 8,444.14
005-701-67545 Principal and Interest 61598 61,598.00 33,785.98 005-701-61211 Utilities - Water 31800 31,800.00 40,065.08 005-701-61241 Utilities - Electric 64000 64,000.00 80,145.38 Variance
Favorable
(Unfavorable)
Original
Total Budget
Current
Total Budget
Fiscal
Activity
005-701-61140 Operational Supplies 4500 4,500.00 2,600.98 Budget Report For Fiscal: 2024-2025 Period Ending: 06/30/2025

Proprietary Funds - Wastewater Funds
Operating Revenue: Variance
Charges for Services [1] 0.18
Other Operating Revenue: [2] -
Total Operating Revenue 0.18
Operating Expenses: -
Personnel services [3] (0.37)
Operating & maintenance [4] (0.78)
Depreciation [5] 0.55
Total operating expense (0.60)
Operating income (loss) 0.78
-
Non-Operating Revenue (Expenses): -
Investment income (loss) [6] (0.21)
Interest expense [7] (0.02)
Total non-operting revenues (expenses) (0.23)
Income (loss) before transfers/capitals 0.55
Capital Contributions [8] (0.40)
Transfers In [9]
Change in net position 0.15
Revenue Total (0.43)
Expense Total 0.58
Net Change 0.15
1,249,523.82 1,249,524.00
RECONCILIATION TO ACFR pg. 35

GL ACFR
- -
1,249,523.82 1,249,524.00
356,017.45 356,018.00
1,991,860.60
1,042,222.78 1,042,222.00
1,991,860.00
(742,336.78) (742,336.00)
593,620.37 593,620.00
34,674.21 34,674.00
(33,785.98) (33,786.00)
888.23 888.00
(741,448.55) (741,448.00)
268,300.40 268,300.00
(473,148.15) (473,148.00)
1,552,498.43
(2,025,646.58) (2,025,646.00)
(473,148.00)
- -
(473,148.15)
1,552,498.00

Percent
Used
[1] 150.00 123.08%
[1] 8,999.20 279.98%
[1] 32,793.26 485.80%
[1] 262,334.55 110.79%
[1] 12,510.00 #DIV/0!
[1] 93.00 565.00%
[2] 3,250.00 303.13%
320,130.01 113.08%
[2] 3,531.67 #DIV/0!
[8] 223,293.00 #DIV/0!
226,824.67 0.00%
[6] 31,573.22 125.26%
31,573.22 125.26%
[9] 268,035.48 #DIV/0!
-846,420.00 0.00%
-425,000.00 0.00%
-1,003,384.52 21.08%
-424,856.62 88.94%
68,755.46 80.51%
300.32 94.13%
228.39 55.65%
-979.48 102.69%
873.82 90.08%
21,578.52 61.66%
4,718.67 76.72%

94.01 73.14%
[3] 95,569.71 80.11%
[4] -282.20 102.94%
[4] 1,545.00 92.64%
[4] -46.68 100.45%
[4] 2,338.42 6.46%
[4] -4,666.90 121.71%
[4] 514.86 96.32%
[4] 5,562.43 97.22%
[4] -3,916.31 155.95%
[4] 1,272.50 57.58%
[4] 4,471.15 26.94%
[4] 32,881.38 82.69%
[4] 22,812.54 72.01%
[4] 238.04 4.78%
[4] -1,250.00 105.00%
[4] -17,844.48 135.69%
020-601-60905 CalPERS Unfunded Accrued Liability 25,000.00 25,000.00 26,250.00 020-601-61111 Chemicals / Analysis 40,800.00 50,000.00 67,844.48 020-601-60830 Contract Services-Engineering 81,500.00 81,500.00 58,687.46 020-601-60900 Miscellaneous 250.00 250.00 11.96
020-601-60710 Travel & Training 6,120.00 6,120.00 1,648.85 020-601-60800 Contract Services 137,160.00 190,000.00 157,118.62 020-601-60270 Maintenance - Vehicles 7,000.00 7,000.00 10,916.31 020-601-60650 Membership & Publications 3,000.00 3,000.00 1,727.50 020-601-60211 Data Processing Contract Maint 10,506.00 14,000.00 13,485.14 020-601-60250 Maintenance / Repair 80,000.00 200,000.00 194,437.57 020-601-60131 Laundry / Uniforms 1,500.00 2,500.00 161.58 020-601-60210 Computer Maintenance &Software 21,500.00 21,500.00 26,166.90 020-601-50610 Insurance - Property 27,300.00 21,000.00 19,455.00 020-601-60021 Audit 10,300.00 10,300.00 10,346.68
Category: 500 - Employee Services Total: 381,012.00 480,473.00 384,903.29 Category: 600 - Operating & Maintenance
020-601-50600 Insurance - Liability 10,810.00 9,600.00 9,882.20 020-601-50410 Employer Paid DCP 15,663.00 20,271.00 15,552.33 020-601-50500 Group Life Ins Benefit 266.00 350.00 255.99 020-601-50300 Workers Compensation 11,158.00 8,805.00 7,931.18 020-601-50400 Medical Benefit 42,867.00 56,289.00 34,710.48 020-601-50130 UI & Employee Training Tax 390.00 515.00 286.61 020-601-50200 PERS Retirement 29,381.00 36,364.00 37,343.48 Category: 500 - Employee Services
020-601-50000 Salaries 277,266.00 352,764.00 284,008.54 020-601-50120 Employer SS/MC 4,021.00 5,115.00 4,814.68 Category: 495 - Client Review Total: 492,813.00 1,271,420.00 268,035.48 Revenue Total: 2,990,483.00 3,843,090.00 3,418,233.38
Expense
020-49661 Transfer from Reserves 207,813.00 846,420.00 0.00 021-49732 Transfer from Water Fund 285,000.00 425,000.00 0.00 Category: 490 - Use of Monies & Properties Total: 51,000.00 125,000.00 156,573.22 Category: 495 - Client Review
020-49660 Transfer from Other Funds 0.00 0.00 268,035.48 Category: 442 - Misc Total: 0.00 0.00 226,824.67
Category: 490 - Use of Monies & Properties
020-44105 Interest 51,000.00 125,000.00 156,573.22
Category: 442 - Misc
020-44250 Miscellaneous 0.00 0.00 3,531.67
021-44115 Connection Fees 0.00 0.00 223,293.00
020-49656 Hydrant Permits 1,600.00 1,600.00 4,850.00
Category: 440 - Charges for Current Services Total: 2,446,670.00 2,446,670.00 2,766,800.01 020-44220 Meter Service Installation 0.00 0.00 12,510.00 020-44240 Service Reinstatement Fee 20.00 20.00 113.00
020-44210 Bulk Water 8,500.00 8,500.00 41,293.26
020-44215 Sales 2,430,900.00 2,430,900.00 2,693,234.55
Revenue
Category: 440 - Charges for Current Services
020-44120 Set-Up Fees 650.00 650.00 800.00
020-44125 Late Charges 5,000.00 5,000.00 13,999.20
2024-25 Revenue and Expense Report (Proprietary Funds)
City of Buellton, CA Water Funds
For Fiscal: 2024-2025 Period Ending: 06/30/2025
Variance
Favorable
(Unfavorable)
Original
Total Budget
Current
Total Budget
Fiscal
Activity
0

Percent
Used
[4] 1,831.28 40.15%
[4] -664.50 133.23%
[4] -4,057.13 181.14%
[4] 467.09 68.86%
[4] -7,238.01 148.25%
[4] 5,368.55 95.80%
[4] 1,573.65 85.69%
[5] 46,561.80 52.18%
[4] -2,609.73 110.44%
[4] 2,319.23 33.74%
[4] 17,947.70 49.73%
[4] 122,375.41 87.98%
[4] 1,762.31 54.81%
[4] -896.38 #DIV/0!
[5] -63,596.57 131.80%
674,123.00 0.00%
[5] -37,014.39 149.35%
350,000.00 0.00%
1,151,883.06 64.98%
[4] -246.38 124.64%
50,000.00 0.00%
20,039.91 8.91%
[4] 69,793.53 4.39%
1,317,246.30 65.72%
892,389.68 #DIV/0!
Category: 700 - Capital Total: 18,000.00 73,000.00 3,206.47 Expense Total: 2,990,483.00 3,843,091.00 2,525,844.70
Report Surplus (Deficit): 0.00 0.00 892,388.68
020-601-73100 Vehicles 0.00 50,000.00 0.00
020-601-73500 Equipment 18,000.00 22,000.00 1,960.09
Category: 600 - Operating & Maintenance Total: 2,591,471.00 3,289,618.00 2,137,734.94 Category: 700 - Capital
020-601-72300 Computer Equipment 0.00 1,000.00 1,246.38 021-601-68110 Depreciation 35,000.00 75,000.00 112,014.39 021-602-69100 Transfer to Other Funds 250,000.00 350,000.00 0.00 020-601-68110 Depreciation 200,000.00 200,000.00 263,596.57 020-601-69100 Transfer to Other Funds 335,000.00 674,123.00 0.00 020-601-67705 Telephone 3,900.00 3,900.00 2,137.69
020-601-67820 Write-Off Utility Accounts 0.00 0.00 896.38 020-601-67610 Santa Ynez River Appropriation 35,700.00 35,700.00 17,752.30 020-601-67635 State Water Project 1,018,000.00 1,018,000.00 895,624.59 020-601-67575 Regulatory Compliance 25,000.00 25,000.00 27,609.73 020-601-67600 Safety Equipment 3,500.00 3,500.00 1,180.77 020-601-61280 Fuel - Vehicles 11,000.00 11,000.00 9,426.35 020-601-67545 Principal & Interest 97,365.00 97,365.00 50,803.20 020-601-61240 Meter Expense 15,000.00 15,000.00 22,238.01 020-601-61241 Utilities - Electric 87,700.00 127,700.00 122,331.45 020-601-61131 Postage 5,000.00 5,000.00 9,057.13
020-601-61140 Operational Supplies 1,500.00 1,500.00 1,032.91 020-601-61127 Tools 3,060.00 3,060.00 1,228.72
020-601-61130 Office Supplies 2,000.00 2,000.00 2,664.50 Budget Report For Fiscal: 2024-2025 Period Ending: 06/30/2025 Variance
Favorable
(Unfavorable)
Original
Total Budget
Current
Total Budget
Fiscal
Activity

Operating Revenue: Variance
Charges for Services [1] (0.01) Water Fund- Proprietary Funds Other Operating Revenue: [2] 0.33
Total Operating Revenue 0.32
Operating Expenses: -
Personnel services [3] (0.29)
Operating & maintenance [4] 1.75
Depreciation [5] 0.04
Total operating expense 1.50
Operating income (loss) (1.18)
-
Non-Operating Revenue (Expenses): -
Investment income (loss) [6] (0.22)
Interest expense [7] 0.20
Total non-operting revenues (expenses) (0.02)
Income (loss) before transfers/capitals (1.20)
Capital Contributions [8] -
Transfers In [9]
Change in net position (0.68)
Total Revenue 0.62
Total Expenses (1.30)
Net Change (0.68)
3,418,233.38
(2,525,844.70)
892,388.68
3,418,234.00
(2,525,846.00)
892,388.00
2,761,950.01 2,761,950.00
RECONCILIATION TO ACFR pg. 35

GL ACFR
8,381.67 8,382.00
2,770,331.68 2,770,332.00
384,903.29 384,903.00
1,714,527.25 1,714,529.00
375,610.96 375,611.00
2,475,041.50 2,475,043.00
295,290.18 295,289.00
156,573.22 156,573.00
(50,803.20) (50,803.00)
105,770.02 105,770.00
401,060.20 401,059.00
892,388.68 892,388.00
223,293.00 223,293.00
268,035.48 268,036.00