2023-04-04; City Council; 05; City of Carlsbad Fiscal Year 2021-22 Annual Financial Audit Results

CA Review CKM
Meeting Date: April 4, 2023
To: Mayor and City Council
From: Scott Chadwick, City Manager
Staff Contact: Roxanne Muhlmeister, Assistant Finance Director [email protected], 442-339-2417
Subject: City of Carlsbad Fiscal Year 2021-22 Annual Financial Audit Results District: All
Reco
mmended Action
Receive a report on the city’s fiscal year 2021-22 annual financial audit results.

Executive Summary
The City of Carlsbad is required by the State of California to be audited by a certified public accountant or public accountant, licensed by, and in good standing with, the California Board of Accountancy. The city’s annual financial audit resulted in an unmodified opinion, and found no material weaknesses in internal controls, nor any material instances of noncompliance.

Discussion
The Finance Department is responsible for the stewardship of the city’s assets and liabilities, helping to ensure information is provided in an effective and timely manner so that the best financial decisions can be made. An important component of this stewardship is the completion of the city’s annual financial audit by a certified public accountant firm.

Results of the Fiscal Year 2021-22 Financial Audit
In February 2022, city staff selected and issued a five-year contract to the CPA firm Lance, Soll & Lunghard, LLP to perform the city’s annual financial audit. The role of the external auditor is to express an opinion on the city’s financial statements on whether they are materially misstated or not. The external auditors follow Government Auditing Standards that have been created by the American Institute of Certified Public Accountants.

The fiscal year 2021-22 audit began in May 2022 with the external auditors conducting interim fieldwork, and the audit concluded on March 13, 2023, when the auditors issued their opinion on the city’s financial statements. The city received an “unmodified” opinion, which means that it is the auditor’s judgment that the city’s financial statements and footnotes are fairly stated, without any material exceptions, and in compliance with the generally accepted accounting principles.

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The auditor did not identify any material weaknesses in internal controls nor any material instances of noncompliance.

The Independent Auditor’s Report is part of the city’s Annual Comprehensive Financial Report (Exhibit 1). This annual report also includes further discussion and analysis of the city’s finances and basic financial statements.

Transparency
The city publishes quarterly financial status reports on the city’s website that highlight the city’s General Fund, Water Fund, Wastewater Fund and Golf Course Fund revenues and expenditures for the fiscal year. City staff also provide the public and City Council with quarterly economic and
financial reports and presentations at City Council meetings throughout the fiscal year.

Fiscal Analysis
This is an informational item with no fiscal impact.

Next Steps
The city’s next financial audit, for fiscal year 2022-23, is scheduled to commence with Lance, Soll & Lunghard, LLP in May 2023. The audit is expected to conclude in late 2023 or early 2024.

Environmental Evaluation
This informational report does not constitute a project within the meaning of the California Environmental Quality Act under California Public Resources Code Section 21065 in that it has no potential to cause either a direct physical change in the environment or a reasonably foreseeable indirect physical change in the environment.

Exhibits

1. City of Carlsbad’s fiscal year 2021-22 Annual Comprehensive Financial Report

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( City of
Carlsbad
Cii l lf or n l a

FINANCIAL
REPORT
Fiscal Year Ended June 30, 2022

ANNUAL COMPREHENSIVE
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{city of
Carlsbad
California

Annual Comprehensive
Financial Report

Fiscal Year Ended
June 30, 2022

Prepared by the

Finance Department
1635 Faraday Ave.

Carlsbad, CA 92008
www.carlsbadca.gov
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Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2022

Table of Contents

Page
Introductory Section

Letter of Transmittal i
Certificate of Achievement for Excellence in Financial Reporting xxi Location Map xxii
List of City Officials xxiii
Organization Chart xxiv

Financial Section

Independent Auditor’s Report 1
Management’s Discussion and Analysis 5
Government-Wide Financial Statements:

Statement of Net Position 25
Statement of Activities 26
Fund Financial Statements:

Balance Sheet – Governmental Funds 28
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position 31 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds 32 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 35 Statement of Net Position – Proprietary Funds 36
Statement of Revenues, Expenses and Changes in Fund Net Position – Proprietary Funds 38 Statement of Cash Flows – Proprietary Funds 39
Statement of Fiduciary Net Position – Fiduciary Funds 40 Statement of Changes in Fiduciary Net Position – Fiduciary Funds 41 Notes to the Financial Statements 43
Required Supplementary Information
Budgetary Comparison Schedules
General Fund 87
Pension Plan
Schedule of Changes in the Net Pension Liability/(Asset) and Related Ratios Agent Multiple-Employer Miscellaneous Plan 88
Schedule of Contributions-Agent Multiple-Employer Miscellaneous Plan 90 Schedule of Changes in the Net Pension Liability/(Asset) and Related Ratios Agent Multiple-Employer Miscellaneous Plan 92
Schedule of Contributions-Agent Multiple-Employer Safety Plan 94 OPEB Plan
Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios 96 Schedule of Contributions 97

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Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2022

Table of Contents

Page
Financial Section (continued)

Combining and Individual Fund Statements and Schedules
Combining Balance Sheet –Nonmajor Governmental Funds 98 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – N onmajor Governmental Funds 102
Budgetary Comparison Schedules
Affordable Housing 106
Community Development Block Grant 107
Donations 108
Financing Districts 109
Habitat and Agricultural Management 110
Other Special Revenue Funds 111
Police Grants and Asset Forfeiture 112
Section 8 Rental Assistance 113
Tyler Court Apartments 114
Combining Statement of Net Position – Nonmajor Proprietary Funds 115 Combining Statement of Revenues, Expenses and Changes in Fund Net Position – Nonmajor Proprietary Funds 116
Combining Statement of Cash Flows – Nonmajor Proprietary Funds 117 Combining Statement of Net Position – Internal Service Funds 118 Combining Statement of Revenues, Expenses and Changes in Fund Net Position – Internal Service Funds 119
Combining Statement of Cash Flows – Internal Service Funds 120 Combining Statement of Fiduciary Net Position – Custodial Funds 121 Combining Statement of Changes in Fiduciary Net Position – Custodial Funds 122

Statistical Section

Financial Trends
Net Position by Component 124
Changes in Net Position 126
Fund Balances of Governmental Funds 130
Changes in Fund Balances of Governmental Funds 132
Revenue Capacity
General Governmental Tax Revenues by Source 134
Water and Wastewater Rates 135
Assessed Value of Taxable Property 137
Direct and Overlapping Property Tax Rates 138
Principal Property Taxpayers 140
Property Tax Levies and Collections 141

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Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2022

Table of Contents

Page
Statistical Section (continued)

Debt Capacity
Ratios of Outstanding Debt by Type 143
Schedule of Direct and Overlapping Bonded Debt 144
Direct and Overlapping Debt 146
Legal Debt Margin Information 148
Pledged-Revenue Coverage 150
Demographic and Economic Information
Demographic and Economic Statistics 152
Principal Employers 155
Operating Information
Authorized Full Time City Government Employees by Program Area 156 Operating Indicators by Function/Program 158
Capital Asset Statistics 160
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Administrative Services
Finance Department 1635 Faraday Avenue ° Carlsbad, CA 92008 ° 442-339-2430 t www.carlsbadca.gov
March 13, 2023
Honorable Mayor, City Council,
and Residents of the City of Carlsbad
City of Carlsbad
Carlsbad, CA 92008

LETTER OF TRANSMITTAL
FISCAL YEAR 2021-22 ANNUAL COMPREHENSIVE FINANCIAL REPORT Honorable Mayor, City Council, and Residents:

I am pleased to present the fiscal year 2021-22 Annual Comprehensive Finan cial Re p ort for the Cit y of Carlsba d (“city”). The information found in this report is provided by management to the City Council and the public to assist those interested in understanding the fiscal condition of the city as of June 30, 2022.

Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal controls that has been established for this purpose.

Because the cost of internal controls should not outweigh its b enefits, the city’s comprehensive framework of internal controls has been designed to provide reasonable, rath er than absolute, assurance that the financial statements will be free from material misstatement.

State law and the Carlsbad Municipal Code require that an annua l financial report is prepared. This report fulfills that obligation. It has been prepared in conformity with genera lly accepted accounting principles (GAAP) and with the financial reporting requirements prescribed by the Governme ntal Accounting Standards Board (GASB). The independent auditing firm, Lance, Soll & Lunghard, LLP, has issued an unmodified (“clean”) opinion on the city’s financial statements for the fiscal year that ended June 30, 2022. The independent auditor’s report is located at the front of the financial section of this Annual Comprehensive Financial Report.

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

As a recipient of federal and state financial assistance, the city is required to have a “Single Audit” performed by an independent audit firm. The Single Audit is designed to meet th e special needs of federal grantor agencies. The standards governing Single Audit engagements require that the i ndependent auditor report not only on the fair presentation of the financial statements, but also on the audit ed government’s internal controls and compliance w i t h l e g a l r e q u i r e m e n t s , w i t h s pecial emphasis on internal cont r o l s a n d l e g a l r e q u i r e m e n t s i n v o l v i n g t h e administration of federal awards. These reports will be completed in March 2023 and made publicly available on the city’s website in the city’s separately issued Compliance Reports and Other Financial Information. i
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{city of
Carlsbad

Profile of the City of Carlsbad

Carlsbad incorporated in 1952 as a General Law City, although its “village” area dates back more than 100 years. In June 2008, the voters of Carlsbad overwhelmingly approved the city to change to a Charter City. Carlsbad is located on the southern California coast, about 35 miles north of the City of San Diego. The city is governed by a five-member City Council under the Council Manager form of government. The City Council is elected by district, on a staggered basis, for a term of four years. The city currently has four di stricts; however, the mayor is elected at large. The City Clerk and City Treasurer are also elected to four-year terms. T he City Council appoints the City Manager and City Attorney.

The city covers approximately 39 square miles
and has a population of approximately
115,000, with an expected built out
population of 120,000 residents. Commercial
activities in the city include: a major regional
s h o p p i n g c e n t e r , a s p e c i a l t y o u t l e t c e n t e r , a commercial center with upscale retail shops,
43 hotels offering 5,059 rooms, 325
short-term vacation rentals and 668
t i m e s h a r e s f o r t o u r i s t l o d g i n g , o v e r 2 3 a u t o dealers, high technology, multimedia and
biomedical businesses, electronics, golf
apparel and equipment manufacturers,
several business and light industry parks, and
numerous land developers building single and multi-family housing in a variety of community settings.

This report includes financial statements for the City of Carlsbad, the Housing Authority of the City of Carlsbad, the Carlsbad Public Financing Authority, and the Carlsbad Municipal Water District. Throu gh t hese entities, Carlsbad provides a full range of services to its citizens and customers including:

x Development services
x Fire and paramedic services
x Housing programs
x Library and arts programs
x Park lands
x Police protection services
x Recreation programming for all ages
x Solid waste services
x Street construction and maintenance
x Water delivery system
x Wastewater system

In addition to the full range of services normally associated w ith a municipality, Carlsbad offers programs to help residents and businesses. The city’s Housing Authority administers federal housing assistance to more than 500 low- income households in Carlsbad, and older residents can take advantage of Carlsbad’s senior citizen programs.

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Carlsbad
San Diego
county
Budget Process
The City Council sets the overall policy direction for Carlsbad and helps staff prioritize programs, projects and services to support that direction. Public input plays a critical role i n setting both the long-range policy direction of the city and decisions about day-to-day spending.

Public input specific to the budget process in volved four main opportunities : C i t y C o u n c i l g o a l s e t t i n g , presentation of goal work plans, presentation of the preliminary budget and the budget adoption public hearing.

The City Council gathered in the winter and spring of 2022 to develop goals for the city’s five-year strategic plan. Ta king in to a cco unt wo rk that was alr eady p ut in m otion through public input into the fiscal year 2021-22 budget, the City Council asked staff to focus on five main goal themes:
x Community Character: maintain Carlsbad’s unique community character and connectedness x Quality of Life & Safety: prioritize the safety and well-being of the community x Sustainability & the Natural Environment: protect the environment and natural resources x Economic Vitality: foster a healthy local economy
x Organization Excellence & Fiscal Health: be a model for effective and efficient local government

Budgetary control for the city is maintained through its accounting systems. Expe nditures may not exceed budgeted figures at the fund level. Monthly reports summarizing t h e r e s u l t s o f o p e r a t i o n s f o r t h e c i t y ’ s m o r e significant funds are provided to the City Council and the public on the city’s website.

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BUDGET SCHEDULE
January
Departments begin preparing budgets
April
Prepare and refine draft budget
May
Preliminary budget to the City Council
June
Anal budget adoption
Community Vision
These nine core values make up the Carlsbad Community Vision. T hey were developed in collaboration with the community and drive both the day to day work of the city and its long-term planning.

S m a l l t o w n f e e l , b e a c h c o m m u n i t y c h a r a c t e r a n d c o n n e c t e d n e s s – Enhance Carlsbad’s defining attributes—its small town feel and beach community character. Build on the city’s culture of civic engagement, volunteerism and philanthropy.

Open space and the natural environment – Prioritize protection and enhancement of open space and the natural environment. Support and protect Carlsbad’s unique open space and agricultural heritage.

Access to recreation and active, healthy lifestyles – Promote active lifestyles and community health by furthering ac cess to trails, parks, beaches a n d o t h e r r e c r e a t i o n opportunities.

The local economy, business diversity and tourism – Strengthen the city’s strong and diverse economy and its position as an employment hub in north San Diego County.

Promote business diversity, increased specialty retail and dini ng opportunities, and Carlsbad’s tourism.

Walking, biking, public transportation and connectivity – Increase travel options through enhanced walking, bicycling and public transportation systems. Enhance mobility through increased connectivity and intelligent transportation management.

Sustainability – Build on the city’s sustainability initiatives to emerge as a leader in green development and sustainability. Pursue public/private partnerships, particularly on sustainable water, energy, recycling and foods.

History, the arts and cultural resources – Emphasize the arts by promoting a multitude of e v e n t s a n d p r o d u c t i o n s y e a r - r o u n d a n d c u t t i n g - e d g e v e n u e s t o h ost world class performances and celebrate Carlsbad’s cultural heritage in dedi cated facilities and programs.

High quality education and community services – Support quality, comprehensive education and lifelong learning opportunities, provide housing and community services for a changing population, and maintain a high standard for citywide public safety.

Neighborhood revitalization, community design and livability – Revitalize neighborhoods and enhance citywide community d esign and livability. Promote a g r e a t e r m i x o f u s e s citywide, more activities along the coastline and link density to public transportation.

Revitalize the downtown Village as a community focal point and a unique and memorable center for visitors and rejuvenate the historic Barrio neighborhood.

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e
Q

Economic and Fiscal Issues Facing the City

At the time of developing the Fiscal Year 2022-23 Proposed Budg et, the world, nation, state and city continues to grapple with the ongoing economic effects of COVID-19. In the City of Carlsbad, the most profound effects have been concentrated in the restaurant, travel, entertainment, and leis ure and hospitality sectors. Hospitality and tourism b u s i n e s s e s h a v e b e e n h a r d - h i t o v e r t h e p a s t t w o y e a r s w i t h f l u ctuating health order restrictions and consumer c o n f i d e n c e i m p a c t i n g t r a v e l . H o t e l o c c u p a n c y i n J a n u a r y 2 0 2 2 w as significantly lower than January 2019 levels.

However, occupancy rose sharply in recent months, with March 20 22 occupancy (75.5%) nearly matching March 2019 occupancy levels (76.5%). With the Omicron surge beh ind us, tourism leaders are optimistic that individual and family travel could continue to rise.

Prior to the pandemic, the city boasted a low unemployment rate o f 2 . 9 % . A t t h e h e i g h t o f t h e p a n d e m i c , unemployment spiked to 13.8%. Over the past two years, the unemployment rate has had some correlation to the prevalence of COVID-19 in the region. However, despite the Delta and Omicron surges, which caused an uptick in unemployment at the state level in December 2021 (6.5%), unempl oyment continued to fall at the county and city level. The u ne mployment ra te in Mar ch 2022 was 4. 2% at t he sta te le vel, 3. 4% at t he county level, and 3.1% in C a r l s b a d . T h i s i s 0 . 2 % a b o v e p r e - p a n d e m i c l o w s . C u r r e n t l y , m a n y e m p l o y e r s a r e c i t i n g d i f f i c u l t y i n f i n d i n g a n d retaining workers. In March 2022, nationally, there were 1.9 op en jobs for every unemployed worker. This is one underlying cause to increased wage pressures and difficulty in retaining employees.

National interest rates, which dropped significantly during the pandemic, have now eclipsed pre-pandemic rates for all categories. One-year rates are currently at 1.63%, ten-year rates are currently at 2.32%, and 30-year rates are at

2.44%. With current inflation concerns, the Federal Reserve has begun to raise interest rates and indicates plans for further rate increases over the next several quarters.

T o s p a w n e c o n o m i c r e c o v e r y , s e v e r a l f e d e r a l , s t a t e a n d l o c a l p rograms were approved, providing substantial resources for businesses. These include the American Rescue Pla n ; t h e P a y c h e c k P r o t e c t i o n P r o g r a m , f o r w h i c h Carlsbad companies were recipients at a higher rate than any other North County city in the first round; the State of California Small Business Relief Program; and the City of Carlsbad’s Economic Recovery and Revitalization Initiative. Most health order restrictions on businesses have n ow been lifted since the fiscal year 2021-22 budget was adopted on June 8, 2021, and the results have been positive across most of the city’s revenue streams. While the city is beginning to have a clearer picture of our revenue outlook, economic uncertainty resulting from inflation and geopolitical conflict has created strong demand for conservative revenue projections into the future.

Maintaining good fiscal health must remain a top priority. Meet i n g t h i s o b j e c t i v e p r e s e r v e s t h e c i t y ’ s a b i l i t y t o continue providing important programs and services to the commu nity. Past economic challenges and prudent financial planning have provided opportunities for developing s olutions to address lost revenues while preserving vital services. Revenues, along with the local economy, are expected to continue to recover as COVID-19 restrictions lessen, but this recovery will be partially offset by the end o f federal and state aid that was provided as well as uncertainties surrounding rising inflation and geopolitical conflict. Expenditures and revenues will need to be closely monitored as a result. Disciplined spending and long-term finan cial planning remain critica l to ensuring the future sustainability of important city programs and services. v
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Long-Term Financial Planning

Strategic planning begins with determining the city's fiscal cap a c i t y b a s e d u p o n l o n g - t e r m f i n a n c i a l f o r e c a s t s o f recurring available revenues and future financial obligations. Prior to the adoption of the annual budget, the finance department will prepare a Ten-Year Financial Forecast (“Forecast”) that evaluates known internal and external issues impacting the city's financial condition. The methodology for p reparing the Forecast can be found in the appendix of this document. The Forecast is intended to help the city:

x Attain and maintain financial sustainability;
x Have sufficient long-term information to guide financial decisions; x Have sufficient resources to provide programs and services for the stakeholders; x Identify potential risks to on-going operations in the long-term financial planning process and communicate these risks on an annual basis;
x Establish mechanisms to identify early warning indicators; and x Identify changes in expenditure or revenue structures needed to deliver services or to meet the goals adopted by the City Council.

It is important to stress that the Forecast is not a budget. Th e Forecast does not dictate expenditure decisions, but rather highlights the need to prioritize the allocation of the city’s limited resources to ensure the continuation of core city services. The purpose of the plan is to provide the City Council, key stakeholders, and the public an overview of the city’s fiscal health based on various financial and service level assumptions over the next ten years. It also allows for the discussion of necessary steps to be initiated during the development and implementation of future budgets. The Forecast is intended to look beyond the annual bud get cycle and serve as a planning tool to bring a long-term perspective to the budget process. The Forecast also takes into consideration Council Policies that need to be met on an annual basis including General Fund reserve gui delines, pension funding guidelines, etc. Should projected expenditures exceed projected revenues in any given year, the City Manager will need to identify steps to mitigate the shortfalls prior to presenting a balanced budget to the City Council for consideration during the annual budget development process.

It should be noted that the Forecast is a snapshot in time and will change as additional information is made available and incorporated into the fiscal projections. The swift fiscal recovery from COVID-19 paired with economic uncertainty surrounding inflation and recessionary risk has increased the volatility of projecting future revenues.

The city prepares a long-term financial model for both capital and operating needs. It is imperative that the city plan for the impacts of development, the construction and operation o f ne w p ubl i c f a ci l i t i e s , a n d pl a n ni ng r e s o ur ce s needed to build them. The city prepares a ten-year operating fo recast for the General Fund, a five-year Strategic Digital Transformation Investment Program, and a fifteen-year C apital Improvement Program. As part of the new Strategic Digital Transformation Investment Program and the Capital Improvement Program, the city annually calculates the amounts needed to pay for the projects and calcu lates the anticipated operating budget impacts. In this way, the city can anticipate the effects of development from both a capital and an operating perspective.

One important initiative the city has undertaken to ensure its financial health is the development of an Infrastructure Replacement Fund. With this fund, the city sets aside a portion of General Fund revenues on an annual basis for major maintenance and replacement of its infrastructure. Much o f the city’s infrastructure is relatively new; thus, the city is just now experiencing the impact of maintenance req uirements. By setting aside funds now, the city’s vi
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residents can be assured that the proper maintenance and replac ement will be performed, as needed, on streets, parks and many facilities for which the city is responsible.

Employee retirement costs continue to require ongoing prudent f iscal management. The City Council issued a p e n s i o n f u n d i n g p o l i c y t o c o d i f y i t s c o m m i t m e n t t o e n s u r e t h a t resources will be available to fulfill the city’s contractual retirement promises to its employees, and to minimize the chance that the funding of these benefits will interfere with providing essential services to the community. The policy outlines a funding discipline to ensure that adequate resources will be accumulated in a systematic and disc i p l i n e d m a n n e r t o f u n d t h e l o n g - t e r m c o s t o f benefits to the plan participants and annuitants. Overall fundi ng levels of the city’s plans are reviewed annually to ensure the city’s funding level remains at least 80% – the city ’s minimum targeted level. While this enhances the city’s funding position, risks remain in the system. Required e mployer contributions will continue to increase over the next few years and actual contribution increases could exceed expectations if future investment return rates or other factors are unfavorable.

Revenue and expenditure growth projections
The city’s forecast considers the annual growth of all currentl y known elements of city revenues and expenditures.

Projecting revenues is particularly difficult when considering the short-term impacts of COVID-19 on the economy, leaving the timing of an economic rebound and future growth volatility uncertain. When forecasting expenditures, some of the major factors considered are rising healthcare and workers’ compensation costs, underperforming pension programs, and general inflation in both personnel and o perating expenditures. Currently, the city projects expenditure growth will outpace revenue growth in the near futu re. To support the increase in ongoing costs, the city will need to consider alternative options, such as ways to increase economic activity that will drive sustainable increases in the city’s current revenue base, an expansion of t he city’s revenue base, or a reduction of the city’s current service offerings and associated costs.

American Rescue Plan Act
The American Rescue Plan Act of 2021 was passed on March 11, 20 21 which allocated $12.6 million in COVID-19 recovery funds to the city. The American Rescue Plan Act provides an infusion of resources to help turn the tide on the pandemic, address its economic fallout and lay the foundati on for a strong recovery. In accordance with the American Rescue Plan Act, funds are allowed to be used through Dec. 31, 2024 and may be used to:

x Support urgent COVID-19 response efforts,
x Replace lost public sector lost revenue,
x Support immediate economic stabilization, and
x Address systemic public health and economic challenges.

The funds are restricted from being used to offset tax cuts or for pension liabilities. These funds are provided in two tranches: the first tranche, in which $6.3 million was received in May 2021, and the second tranche, was received in June 2022. The city has appropriately used the funds as a replacement of revenue to partially offset the negative economic impacts from the pandemic. To substantiate the use of these funds for revenue replacement, the American Rescue Plan Act requires the city to demonstrate the extent of revenue reduction. Following the final guidance from the U.S. Department of the Treasury, the city’s current project e d r e v e n u e l o s s f r o m t h e C O V I D - 1 9 p a n d e m i c i s estimated to be more than the $12.6 million in funding awarded to the city.

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FINANCIAL MANAGEMENT POLICIES

Revenue Policies
The development and maintenance of balanced and reliable revenue streams will be the primary revenue objective of the city. Efforts will be directed to optimize existing reve nue sources while periodically reviewing potential new revenue sources. One method to ma ximize existing revenue sources it to promote a healthy business climate.

Revenue estimates will be prepared on an annual basis during th e preparation of the budget and major revenue categories will be projected on a ten-year basis. Revenues will be estimated conservatively using accepted standards and estimates provided by the state and other governmental agencies. Alternative revenue sources will be periodically evaluated to determine their applicability to meet identified city needs. Sources of revenue will be evaluated and modified as necessary to assure a diversified and growing revenue base that improves the city’s ability to handle fluctuations in individual revenue sources.

Revenues from “one-time” or limited duration revenue sources wi ll not be used for ongoing operating expenses.

Fees and charges for services will be evaluated and, if necessa ry, adjusted annually to ensure that they generate sufficient revenues to meet service delivery costs. The city will establish user charges at a level generally related to the full cost (operating, direct, indirect and capital costs) of providing the service, unless the City Council determines that a subsidy from the General Fund is in the public interest. The city will also consider market rates and charges levied by other municipalities of similar size for like service s in establishing rates, fees and charges. Enterprise and internal service funds will be self-supporting.

Expenditure and Budget Policies
Major expenditure categories will be projected on a ten-year basis. The city will operate on a current funding basis.

Expenditures will be budgeted and controlled so as not to excee d current revenues plus the planned use of any accumulated fund balances. Annual budgeted operating expenditures shall not exceed annual operating revenues, including budgeted use of reserves, unless directed by the City Council.

T h e C i t y M a n a g e r s h a l l p r e p a r e a n d s u b m i t t o t h e C i t y C o u n c i l annually a proposed operating, strategic digital transformation investment program and capital improvement program budget each year, and the budgets will be adopted by June 30 of each year. Budget status reports are prep ared monthly, distributed to all departments and posted on the city’s website. Because the budget is based on es timates, from time to time, it is necessary to make adjustments to fine tune the line-items within it. Various levels of administrative control are utilized to maintain the budget’s integrity. Program managers are accountable for the line-item level of control of their individual program budgets. Department heads are accountable for the fund level of control for funds within their departments. The Finance Department oversees the general level of accountability related to budgetary integrity through systematic checks and balances and various internal controls.

Council Policy No. 87 – General Fund Surplus Policy outlines the use of surplus fund s resulting from unrestricted General Fund actual revenues exceeding total actual expenditure s, encumbrances, and commitments for a given fiscal year. It is the intent of the city to use all surplus funds generated to meet reserve policies, and the reduction or avoidance of long-term liabilities. The city will not use year-end surplus funds to fund ongoing operations unless otherwise approved by the City Council.

The city will use surplus funds to replenish any General Fund deficiencies, up to the minimum level as set forth in C o u n c i l P o l i c y N o . 7 4 – G e n e r a l F u n d R e s e r v e P o l i c y a n d t h e n a n y p e n s i o n l i a b i l i t y d e f i c i e n c i e s , a s d e f i n e d i n City Council Policy No. 86 – Pension Funding Policy.

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The City Manager is authorized to approve the carryforward of any unencumbered and unspent and unencumbered b u d g e t f o r a p a r t i c u l a r i t e m e q u a l t o o r l e s s t h a n $ 1 0 0 , 0 0 0 i n t o t h e f o l l o w i n g f i s c a l y e a r . T h e s e i t e m s w i l l b e one-time expenditures and not for ongoing services, programs or personnel. Any remaining surplus funds in excess of reserve and pension liability deficiencies and items equal to or greater than $100,000 will be brought forward for City Council approval.

The city adheres to long-range financial planning which forecas ts revenues and expenditures over a long-term period, using assumptions about economic conditions, future spe nding scenarios, and other salient variables.

Financial planning allows the ci ty to execute overall strategie s to support the process of aligning financial capacity with long-term service objectives. Financial forecasts are updated at least once a year, or more often, if unexpected changes in economic conditions or other unforeseen circumstance s exist. Any significant changes will be reported t o t h e C i t y M a n a g e r a n d t h e C i t y C o u n c i l . O t h e r w i s e , t h e s e f i n ancial forecasts will be used as a tool during the development of the annual budget process and to set utility rates as needed.

Reserve Policies
The city formally mandates the levels at which reserves shall be maintained for the General Fund and informally sets minimum target levels for the enterprise and internal service funds.

Council Policy No. 74 – General Fund Reserve Policy was most recently updated and approved by the City Council in June 2019. The purpose of the policy is to establish a target m inimum level of designated reserves in the General Fund to:
x Reduce the risk of financial impacts resulting from a natural disaster or other catastrophic events; x Re s po n d t o t h e cha l l e n ge s o f a changing economic environment, i ncluding prolonged downturns in the local, state or national economy; and
x Demonstrate continued prudent fiscal management and creditworthiness.

The city commits to maintaining General Fund reserves (the term reserve refers to any unassigned fund balance) at a target of 40% of General Fund annual operating expenditures. The total reserve level will be calculated using the prior year’s adopted General Fund budgeted expenditures.

A t t h e d i s c r e t i o n o f t h e C i t y C o u n c i l , r e s e r v e l e v e l s i n e x c e s s of the 40% target requirement m ay be used for one-time opportunity cost purposes. Reserve funds will not be s pent for any function other than the specific direction in the annual budget or by a separate City Council action.

As a general budget principle concerning the use of reserves, the City Council decides whether to appropriate funds from reserves. Reserve funds will not be spent for any function other than the specific purpose of the reserve account from which they are drawn without specific direction in the annual budget or by a separate City Council action.

The Wastewater Fund and Water Operating Fund Reserves will target a reserve funding level of 40%. The reserve amount is calculated by dividing unassigned fund balance by tot al budgeted operating expenses plus replacement transfers plus budgeted debt service payments. The annual budget process and the setting of utility user rates and charges will be used to achieve and maintain the target reserve level.

The city’s Workers’ Compensation Fund will maintain a minimum reserve equal to the estimated outstanding claims as calculated by a third-party administrator. Additional reserve amounts may be set aside as deemed appropriate based on a third-party actuarial study completed at two year intervals. During the annual budget process, the target confidence level will be compared with the projected fund balance, and, if the projected fund balance is greater than ix
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o r l e s s e r t h a n t h e t a r g e t , a p l a n t o a d j u s t t h e f u n d b a l a n c e w ill be considered, using either or both increasing revenues through interdepartmental charges and one-time cash contributions from those funds contributing to the shortfall.

The Risk Management Fund (General Liability) will maintain a minimum reserve equal to the estimated outstanding claims as calculated by a third-party administrator. Additional reserve amounts may be set aside as deemed appropriate based on a third-party actuarial study completed at two-year intervals. During the annual budget process, the reserve level will be compared with the projected fund balance, and, if the projected fund balance is greater than or lesser than the target, a plan to adjust the fund balance will be considered, using either or both increasing revenues through interdepartmental charges and one-t ime cash contributions from those funds contributing to the shortfall.

The Information Technology Asset Replacement Fund shall maintain a minimum reserve level defined as the amount of accumulated depreciation of capitalized assets based on the original cost of each capitalized asset, and up to a maximum reserve level defined as the accumulated depreciation based on the estimated replacement cost of each capitalized asset.

The Vehicle Asset Replacement Fund shall maintain a minimum reserve level defined as the amount of accumulated depreciation of capitalized Fleet assets based on the original cost of each capitalized asset, and up to a maximum reserve level defined as the accumulated depreciation based on the estimated replacement cost of each capitalized asset.

Investment Policy
The city has established a formal Investment Policy. It is the policy of the City of Carlsbad to invest public funds not required for immediate day-to-day operations in safe, liquid an d medium-term investments that shall yield an acceptable return while conforming to all California statutes. It is intended that the pol icy cover the investment activities of all contingency reserves and inactive cash under the direct authority of the city. Investments of the city and its component units will be made on a pooled basis; however, investments of bond proceeds will be held separately if required.

Pension Funding Policy
The city’s Council Policy No. 86 – Pension Funding Policy embodies funding and accounting principles to ensure that resources will be available to fulfill the city’s contractual p romises to its employees. Th e policy objectives include using actuarially determined contributions, or ADC, provided by CalPERS, funding the full amount of the ADC each year, maintaining no less than a combined minimum of 80% funded ratio, and demonstrating accountability and t r a n s p a r e n c y b y c o m m u n i c a t i n g a l l i n f o r m a t i o n n e c e s s a r y f o r a s sessing the city’s progress toward meeting its pension funding objectives.

In the event the city is unable to meet the minimum combined pension funded ratio of 80% with current resources (i.e., without borrowing or using reserves), the Finance Direct o r w i l l i d e n t i f y a r e a s o n a b l e p e r i o d t o r e t u r n t o a minimum 80% funded ratio status.

Long Term General Fund Capital Funding Policy
The city’s Council Policy No. 91 – Long Term General Fund Capital Funding Policy ensures the needs of the city are met and demonstrates continued prudent fiscal management by pro viding a funding source for long-term, large value capital purchases. Many city assets demand large capital expenditures, examples include roads, building, parks, and information technology infrastructure. The city funds the General Fund portion of these necessary investments x
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by adopting an annual budget that includes a transfer from the General Fund to one or more of the city’s long-term capital funds. These long-term capital funds include the Genera l Capital Construction Fund, the Infrastructure Replacement Fund and the Technology Investment Capital Fund. The city commits to targeting a transfer to the city’s long-term capital funds of 6% of budgeted General Fund revenues. The transfers are proposed during the annual budget process or on an as needed basis for the City Council’s consideration.

Full versions of these policies and other City Council policies a r e a v a i l a b l e o n t h e c i t y ’ s w e b s i t e a t www.carlsbadca.gov/city-hall/laws-policies/council-policies.

Strategic Digital Transfor mation Investment Program

The Strategic Digital Transformation Investment Program, or SDT IP, is a comprehensive approach to planning for and funding digital transformation efforts throughout the city. It is informed by the City Council approved Connected Carlsbad: An Inclusive City Innovation Roadmap, the Internal Di gital Information Network Action Plan, the I n f o r m a t i o n T e c h n o l o g y S t r a t e g y , a n d c o m p l i m e n t e d b y a f i v e - y e ar projected roadmap of digital transformation i n v e s t m e n t s . T h e S D T I P i s t h e s t r a t e g i c p l a n f o r t e c h n o l o g y a n d digital transformation combined with project descriptions, costs, funding sources and timelines. The purpose of this program, new for fiscal year 2021-22, is to provide for an annual investment strategy, not a commitment for spending, and outlines a five-year expenditure plan for future digital transformation and technology projects and the corresponding revenues necessary to pay for them.

This investment program is organized into the five primary goal areas approved by the City Council:

x Pursue Communitywide Digital Transformation focuses on the foundational elements, including connectivity, up-to-date hardware and software, and a robust se curity strategy while providing an aspirational vision for the future.
x Build Capacity for Data-Driven Government focuses on the policies, procedures and staffing necessary for the city to fully capture the value of emerging models of data analytics. x F o s t e r a V i b r a n t C i v i c E n g a g e m e n t C u l t u r e builds upon the first two goals with a human- centered perspective that an engaged city that uses data and technology in a way that respects people and their privacy will support a vibrant culture where residents, organiz ations and businesses are invested in their community and its future.
x Enhance Accessibility and Transparency recognizes that open government and approaching problem-solving from an accessibility perspective leads to better outcomes for all. x Promote Safety and Sustainability Through Connectivity leads to understanding the interconnected nature of our communities that can achieve environmental, mobility and sustainability goals when approached in a cross-departmental and community informed manner.

Projects will receive an appropriation that authorizes spending in the amount specified for the adopted fiscal year only. Estimated budget information is shown for a five-year period to provide the most comprehensive information about known future projects. Spending authority in future years is not granted until adoption of the annual proposed SDTIP budget associated with each year.

The Information Technology (IT) Department is organized into five divisions: Enterprise Applications, Infrastructure and Operations, Geographic Information Systems, Public Safety Technology and Administration. These five divisions work together to provide services in three core areas that are crucial to digital transformation efforts:
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Investing in Digital Transformation

As the city continues to grow and develop, the use of technolog y has also grown exponentially over the last two decades. The SDTIP outlines the financial resources needed to e nsure that the technology infrastructure is in place to enable the city to provide services to the community. Prudent financial planning will ensure that ongoing funding for investment in technology is available.

SDTIP Project Evaluation

Making decisions on technology implementations is a challenging and complex task. The challenging nature of these decisions is exacerbated by the expanding reach of technology a nd the increasingly interdisciplinary nature of emerging technologies. A major component of the SDTIP is the es tablishment of a cross-departmental approach to technology leadership to evaluate, prioritize, budget for and a dopt digital transformation efforts. A new administrative order has been developed that provides a collaborative forum for key staff to validate and prioritize t e c h n o l o g y i m p l e m e n t a t i o n s . T h i s a p p r o a c h a l s o p r o v i d e s a s t r u ctured venue to explore how particular configurations of a technology implementation may positively or negatively affect others within the organization.

The process to evaluate digital transformation initiatives is o ngoing and meetings may be held on a monthly, bimonthly or quarterly basis depending on the need.

A number of factors are considered when putting
together projects for the five-year program. All
digital transformation and technology projects shall
be consistent categories on the right.

Proposed projects are evaluated and prioritized by a
set of criteria that include:

x Alignment with City Co uncil goals and IT
strategic plans, architecture, security and
technology standards, including legislative
and regulatory mandates, and other goals
x Coordination of IT investments across the
enterprise to avoid duplication, maximizing
t h e r e t u r n o n i n v e s t m e n t a n d i n c r e a s i n g efficiency
Strategic Digital
Transformation
Investment
Program
Public health
and safety
City Mission,
Vision and
Organizational
Values
Community
values
City Council
goals
Governing
and policy
documents
Funding
availability
Environmental
review
Technology
standards and
strategic
plans
Applications
Enterprise applications
Geographic Information
Systems
Public Safety technology
Business systems
Infrastructure
Networking
Datacenter systems
Client systems
Security
Administration
Contracts and agreements
Accounts payable
Asset replacement
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x Effective articulation of the business case including valid operational benefits of the project x Accuracy and reasonableness of cost and benefit estimates x Consideration of potential project risks and identification of appropriate means to manage those risks x Adherence to standard project management practices
x Capacity of staffing resources to implement the project

As the SDTIP is implemented throughout the year, staff will con tinually re-evaluate projects’ scopes, costs and schedules to responsibly and cost-effectively manage city resources.

SDTIP Fiscal Year 2021-22 Appropriations

In fiscal year 2021-22, there are approximately 33 continuing a nd new projects planned over the next five years at an estimated total cost of $26.9 million. Included in the $26.9 million is approximately $15.4 million in estimated new costs ove r the course o f the same timeframe to provide addi tional funding for the continuation of existing projects as well as funding for new projects. Within the $15.4 million is approximately $4.9 million of estimated new appropriations for fiscal year 2021-22 for these same projects.

Pursue Communitywide Digital Transformation
$13.1 million
This goal includes updating connectivity, providing up-to-date hardware and software, and a robust security strategy.

Build Capacity for Data-driven Decision Making
$0.8 million
This goal’s projects include the policies, procedures and staff ing necessary for the city to fully capture the value of emerging models of data analytics. It also includes building a comprehensive approach to citywide data management to enable data-rich key performance metrics and effective operation of city departments. A data policy and resources will be created to align departments with standards of data cataloging for compliance ease of data sharing Build Capacity for
Data-driven
Decision Making
3%
Enhance
Accessibility and
Transparency
6%
Foster a Vibrant
Civic Engagement
Culture
6%
Promote Security and
Sustainability through
Connectivity
36%
Pursue
Communitywide
Digital Transformation
49%
Estimated Total Projects Costs by Goal
FY 2021-22 to FY 2025-26
$26.94 million
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Foster a Vibrant Civic Engagement Culture
$1.6 million
T h e c i t y ’ s c i v i c e n g a g e m e n t c u l t u r e b u i l d s u p o n t h e f i r s t t w o goals with a human-centered perspective that an engaged city that uses data and technology in a way that respects people and their privacy. Projects in this category will support a vibrant culture where residents, organizations and businesses are invested in their community and its future.

Enhance Accessibility and Transparency
$1.7 million
This goal recognizes that open government and approaching problem-solving from an accessibility perspective leads to better outcomes for all. Projects in this category include C ivic Engagement with Open Data, Online Permitting/Electronic Reviews, Records Management System and a Virtual Permitting Counter.

Promote Security and Sustainability through Connectivity $9.7 million

Projects in this goal include the annual replacement of hardwar e and technology infrastructure, a Facility Security Master Plan, the replacement of the Police Computer Aided Dispatch System and a Unified Communication System to replace the city’s aging phone system.

SDTIP Future Appropriations

The City of Carlsbad’s SDTIP for fiscal year 2021-22 to fiscal year 2025-26 outlines 33 projects at an estimated total cost of $26.94 million. Of the $26.94 million, $15.41 million is for new or increased funding for projects over the next five years. The information provided for future years reflects t h e m o s t c o m p r e h e n s i v e s n a p s h o t o f k n o w n o r anticipated future projects as well as associated estimated costs.

Build Capacity for Data-
driven Decision Making
5%
Enhance Accessibility
and Transparency
7%
Foster a Vibrant
Civic Engagement
Culture
3%
Promote Security and
Sustainability through
Connectivity
47%
Pursue Communitywide
Digital Transformation
38%
Estimated Future Projects Costs by Goal
FY 2021-22 to FY 2025-26
$15.41 million
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Capital Improvement Program
The City of Carlsbad Capital Improvement Program, or CIP, reflects the city’s o n g o i n g c o m m i t m e n t t o m a i n t a i n i n g t h e h i g h e s t s t a n d a r d s o f q u a lity f a c i l i t i e s f o r t h e c o m m u n i t y t o d a y a n d i n t h e f u t u r e . I t i s a planning document, not a commitment for spending. The 15-year program ou tlines the expenditure plan for future capital projects and the corres ponding revenues to pay for those expenditures.

Projects that are shown in the CIP are generally defined as any construction, rehabilitation or replacement of major infrastructure such as s treets, libraries, parks, fire stations and administrative facilities, water, sewer and drainage facilities, and other facilities that are located on or in the ground. In most cases, the total construction cost of each of these assets is recorded and tracked as part of the city’s inventory of capital infrastructure assets and other city-owned property.

Once the City Council adopts the proposed annual CIP budget, pr ojects receive an appropriation that authorizes s pe ndi n g i n t h e a m o u nt s p e ci f i e d f o r t h e a do p t e d f i s ca l ye a r o nly. Estimated budget informati on is shown for a 15-year period to provide the most comprehensive information about known future projects. Spending authority in future years is not granted until adoption of the annual proposed CIP budget associated with each year.

Carlsbad’s philosophy is to take a proactive, long-range planni ng approach to building high quality facilities and infrastructure that support the needs and priorities of the community. The CIP is organized by the following project classifications:

Investing in Quality of Life
As the city continues to grow and develop, there is a corresponding increase in the demand for development-related services and new facilities. To ensure that the necessary infra structure and facilities are built on a schedule that meets or exceeds this demand, the citizens of Carlsbad adopted a Growth Management Plan in 1986. The plan was Planning
Study
Plan
Assessment
Maintenance &
Operations
Technical master plans
Repair
Refurbishment/
Rehabilitation
Modifications
Improvements
Maintenance Program
Monitoring
Replacement
Upgrade
Capital Projects
Regulatory & Policy-
Driven:

Legal requirements,
compliance with Growth
Management Plan,
Climate Action Plan,
defined projects to
implement policies,
plans and goals adopted
by City Council
Community
Enhancements: new
facilities, expansions,
parks & trails, traffic
signals, coastal
improvements
Project
Accounting
CFD #1 Admin
Open Space
Acquisition
Loans
Repayment/Transfer
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established to manage development within the city by linking re sidential, commercial, and industrial development directly to standards for availability of public services and facilities.

The Growth Management Plan states that unless a standard level of facilities is available to meet new demands resulting from the city’s growth, development cannot proceed. R ecently, certain actions, such as imposing a moratorium, have been determined to be impermissible by the California Housing and Community Development Department, per Senate Bill 330, Housing Crisis Act of 2019, which became effective on Jan. 1, 2020.

The detailed level of planning required by Growth Management has allowed the city’s CIP to anticipate the funding needed for capital improvements in the next 15 years. Facilities such as community centers, parks and fire stations have been constructed and opened to the public under this program.

The CIP has been designed to specifically address areas where new or expanded facilities will be needed to maintain compliance with the adopted performance standards. With the adoption of the fiscal year 2021-22 CIP, compliance with the Growth Management Plan is continued.

Prudent financial planning has ensured ongoing funding to modernize, repair, and replace existing infrastructure projects through numerous asset management programs, which ensure adequate inspection, maintenance, and replacement of buildings and parks, water, sewer and drainage systems, bridges, and roadways systems.

CIP Project Evaluation

Development of the CIP is a team effort involving all operation al departments, the City Manager’s Office, the City Council, and the community. Community feedback on infrastructur e needs is considered and incorporated as appropriate. The CIP is fully vetted at multiple levels of the city organization by appropriate staff using an inclusive and transparent process, and reviewed on a quarterly basis.

As the CIP is implemented throughout
the year, staff continually re-evaluate
projects’ scopes, costs and schedules to
responsibly and cost-effectively
manage infrastructure assets at the
required levels of service throughout
their lifecycle. Recommendations for
project funding consider current
project status, project scheduling and
sequencing requirements, project
constraints, and current staff capacity.

Project charters are updated to include
project description, location, summary
of need, justification including any
legislative or policy citations, cost
estimates, and project scores.

In anticipation of revenue decreases in some capital funding so urces, staff recommended funding adjustments in fiscal year 2021-22 that focused on matching existing resources with realistic and achievable project schedules. New project requests were minimized and the city remains committed to continue work on projects that are already underway.

Capital
Improvement
Program
Public health
and safety
City mission,
vision and
organizational
values
Community
values
Environmental
review
Governing and
policy
documents
Funding
availability
City
Council
goals
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CIP Fiscal Year 2021-22 Appropriations

I n t h e f i s c a l y e a r 2 0 2 1 - 2 2 C I P , t h e r e a r e a p p r o x i m a t e l y 2 5 4 c o ntinuing and new projects planned over the next 15 years. The fiscal year 2021-22 CIP outlines $56.2 million in new appropriations to provide additional funding for the continuation of existing projects as well as funding for 21 new projects. Projected revenues during the same fiscal year are estimated at $65.8 million.

Civic Buildings and Facility Maintenance
$8.2 million

This category includes a variety of facilities such as fire stations, libraries and the new City Hall. Costs include repair, maintenance and replacement of civic buildings.

Parks
$2.6 million

Projects include improvements and enhancements to existing parks, such as playground resurfacing, picnic areas and other needs identified by the community and in recently updated parks master plans.

Drainage
$7.2 million

The city’s drainage infrastructure plays an important role in handling storm water runoff flows, as well as maintaining the water quality of the city’s creeks, lagoons and ocean. As the city continues to age, it is increasingly necessary to balance repairing and replacing the existing lines with enhancing the current infrastructure to accommodate future needs.
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L -
FY 2021 -22 Approp riations by Category
$56 .2 million
Project Account ing ~
25%
Planning
1%
Maint enance &
Operat ions
40%
Capital Projects
34%
Wastewater
$11.5 million

The city’s sewer, or wastewater, projects include numerous pipeline construction and rehabilitation projects, as well as improvements to the Encina Wastewater Treatment facility. Mo st new lines are built and paid for with impact fees collected with new development.

Water and Recycled Water
$3.1 million

Future water and recycled water projects include construction of new pipe lines, replacement of existing waterlines and reservoir improvements. The Carlsbad Municipal Water Distri ct has been producing and delivering recycled water for over 30 years.

Transportation
$23.6 million

People of all ages and abilities want to go places safely and conveniently in Carlsbad, whether they drive, walk, bike, or ride a bus or train. Carlsbad continues to invest in modernizing roads, leveraging technology to improve traffic systems, and making timely repairs and rehabilitation of the roadways, bridges, sidewalks and other assets in public rights-of-way throughout the city.

CIP Future Projects
The CIP for fiscal year 2021-22 to fiscal year 2035-36 outlines approximately 254 projects at a cost of $669 million in new or additional funding. Long-range planning and responsible asset management play key roles in the development of future capital projects. Using data from various infrastructure master plans, ongoing asset condition assessments, technical modelling, field inspections as well as community feedback, the information provided for future years reflects the most comprehensive snapshot of known or anticipated future projects as well as associated estimated costs.

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III T
•
,Hr , r , r
Transportation
23%
Water/Recycled
Water
22%
Future Project Costs By Type
FY 2021-22 to FY 2035-36
$669 million
Unfunded Projects
There are
six projects identified in the Capital Improvement Program for which there is no identifiable funding source and, in some cases, where only partial funding has been identif i e d . T h e c i t y w i l l i n v e s t i g a t e o b t a i n i n g p o s s i b l e external funding, such as federa l and state grants, loans, or o ther financing sources. Once funding is identified for these projects, the project costs will have to be reviewed and updated to reflect actual cost estimates. The unfunded projects do not receive annual inflationary increases. Two projects are partially funded by the Traffic Impact Fee Program. The program was planned to generate enough revenue to pay for 20% of the total costs of these projects, leaving the remaining 80% unfunded.

Awards and Acknowledgements
The Government
Finance Officers Association (GFOA) of the Unite d States and Canada awarded a Certificate of Achievement for Excellence in Financial Reporting to the city for its Annual Comprehensive Financial Report for the fiscal year ended June 30, 2021. This was the 24th consecutive year that the city has achieved this prestigious award.

To be awarded a Certificate of Achievement, a government unit m ust publish an easily readable and efficiently organized Annual Comprehensive Financial Report. This report mu st satisfy both GAAP and applicable legal requirements.

A Certificate of Achievement is valid for a period of one year o n l y . T h e c i t y s t r i v e s t o a n n u a l l y p r o d u c e a n Annual Comprehensive Financial Report which will continue to meet the Certificate of Achievement Program’s requirements. This report will be also submitted to GFOA to determine eligibility for another certificate.

This report has been a comprehensive effort by many people from many different areas of responsibility. It could n o t h a v e b e e n a c c o m p l i s h e d w i t h o u t t h e i r h e l p a n d t h e d e d i c a t e d e f f o r t s o f a l l o f t h e f i n a n c e s t a f f , e s p e c i a l l y Roxanne Muhlmeister, Assistant Finance Director and Kim Riboni, Senior Accountant. I also appreciate the staff of Lance, Soll & Lunghard, LLP for the professional way in which the audit of this financial report was conducted. It has been a pleasure to work with them. Additionally, I would like to thank the City Council, the City Manager and the city’s Executive Management Team for their leadership and unfai ling support in maintaining the highest standards of professionalism in the management of the city’s finances.

Respectfully submitted,
Zach Korach
Finance Director
6,600,000$
2,243,000
6,905,600
14,109,600
26,100,000
Business Park Recreational Facility (partially funded)
Cannon Lake Park (6.7 acres)
Carlsbad Blvd. M ountain View t o Northerly City Limits (partiall y funded) Carlsbad Blvd. and Palomar Air port Road (partially f unded) Carlsbad Blvd. Realignment (segments 3-5)
College Boulevard Extension 30,000,000
Total Unfunded Projects 85,958,200$
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xx
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xxi
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•
Government Finance Officers Associat ion
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Carlsbad
California
For its Annua l Comprehens ive
Financia l Report
For the Fiscal Year Ended
June 30, 202 1
Executive Director/CEO
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I
I
I ..,

As of 2/22/2023
Elected Officials
Keith Blackburn, Mayor
Melanie Burkholder, Council Member – District 1
Carolyn Luna, Council Member – District 2
Priya Bhat-Patel, Mayor Pro Tem – District 3
Teresa Acosta, Council Member – District 4
Sherry Freisinger, City Clerk
Craig Lindholm, City Treasurer

Leadership Team
Scott Chadwick, City Manager
Cindie McMahon, City Attorney
Geoff Patnoe, Assistant City Manager

Gary Barberio, Deputy City Manager, Community Services
Paz Gomez, Deputy City Manager, Public Works
Laura Rocha, Deputy City Manager, Administrative Services Michael Calderwood, Chief, Fire Department
Maria Callander, Director, Information Technology
Sheila Cobian, Director, Legislative and Constituent Services Tom Frank, Director, Public Works Transportation
Morgen Fry, Management Analyst, Office of the City Manager David Graham, Chief Innovation Officer, Innovation & Economic Development Jason Haber, Director, Intergovernmental Affairs
Zach Korach, Director, Finance
Kyle Lancaster, Director, Parks & Recreation
John Maashoff, Public Works Manager, Public Works Fleet & Facilities Faviola Medina, City Clerk Services Manager, Office of the City Clerk Mandy Mills, Director, Housing & Homeless Services
Jeff Murphy, Director, Community Development
Vicki Quiram, Director, Public Works Utilities
Kristina Ray, Director, Communication & Engagement
Suzanne Smithson, Director, Library & Cultural Arts
Baq Taj, Engineering Manager, Public Works Construction Mgmt. & Inspections Judy Von Kalinowski, Director, Human Resources
Mickey Williams, Chief, Police Department
James Wood, Director, Public Works Environmental Sustainability

Boards and Commissions Chairs
Agricultural Mitigation Fee Committee – Peter Merz
Arts Commission – Barbara Chung
Beach Preservation Commission – Kathleen Steindlberger
Carlsbad Golf Lodging Business Improvement District Board – Bill Canepa Carlsbad Tourism Business Improvement District Board – Bill Canepa Community Development Block Grant Committee
Growth Management Citizens Committee
Historic Preservation Commission – Chad Majer
Housing Commission – John Nguyen-Cleary
Library Board of Trustees – Sherman DeForest
Parks & Recreation Commission – Michael Luna
Planning Commission – Peter Merz
Senior Commission – Kathryn Rangus
Traffic & Mobility Commission – Josh Coelho
Village & Barrio Design Review Committee

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Office of the Oty Clerk
Faviola Medina
Police Departmen t
Mickey V\lilli.ims
August 1, 2022
Communication & Engagement
Kristina Ray
Intergovernmental Affairs
Jason Haber
legislative & Constituent
Services
Sheila Cobian
Assistant Oty Manager
Geoff Patnoe
Information Technology
f\•laria Callander
lnnouatlon & Economic
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David Graham
City Attorney
Cindie McMahon
( City of
Carlsbad
Fire Department
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dŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƐĞĐƚŝŽŶŽĨƚŚĞĂŶŶƵĂůƌĞƉŽƌƚĐŽŶƐŝƐƚƐ ŽĨĨŽƵƌƉĂƌƚƐʹ ŵĂŶĂŐĞŵĞŶƚ͛Ɛ ĚŝƐĐƵƐƐŝŽŶ ĂŶĚ ĂŶĂůǇƐŝƐ ;ƚŚŝƐƐĞĐƚŝŽŶͿ͕ƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ƌĞƋƵŝƌĞĚƐƵƉƉůĞŵĞŶƚĂƌǇŝŶĨŽƌŵĂƚŝŽŶ͕ĂŶĚĂŶŽƉƚŝŽŶĂůƐĞĐƚŝŽŶƚŚĂƚƉƌĞƐĞŶƚƐ ĐŽŵďŝŶŝŶŐ ƐƚĂƚĞŵĞŶƚƐĨŽƌŶŽŶŵĂũŽƌŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐĂŶĚŝŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐ͘dŚ ĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ ŝŶĐůƵĚĞƚǁŽŬŝŶĚƐŽĨƐƚĂƚĞŵĞŶƚƐƚŚĂƚƉƌĞƐĞŶƚĚŝĨĨĞƌĞŶƚǀŝĞǁƐŽĨƚŚĞĐŝƚǇ͘
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o dŚĞ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐĚĞƚĂŝůŚŽǁŐĞŶĞƌĂů ŐŽǀĞƌŶŵĞŶƚƐĞƌǀŝĐĞƐ͕ƐƵĐŚĂƐƉƵďůŝĐƐĂĨĞƚǇ͕ ǁĞƌĞĨŝŶĂŶĐĞĚŝŶƚŚĞƐŚŽƌƚͲƚĞƌŵ͕ĂƐǁĞůůĂƐǁŚĂƚƌĞŵĂŝŶƐĨŽƌĨƵƚƵƌĞƐƉĞŶĚŝŶŐ͘ o WƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ^ƚĂƚĞŵĞŶƚƐŽĨĨĞƌƐŚŽƌƚͲĂŶĚůŽŶŐͲƚĞƌŵĨŝŶĂŶĐŝĂůŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞĂĐƚŝǀŝƚŝĞƐƚŚĞĐŝƚǇ ŽƉĞƌĂƚĞƐůŝŬĞďƵƐŝŶĞƐƐĞƐ͕ƐƵĐŚĂƐƉƌŽǀŝĚŝŶŐǁĂƚĞƌĂŶĚǁĂƐƚĞǁĂƚĞƌƐĞƌǀŝĐĞƐ͘ o &ŝĚƵĐŝĂƌǇ&ƵŶĚƐ^ƚĂƚĞŵĞŶƚƐƉƌŽǀŝĚĞŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞĨŝŶĂŶĐ ŝĂůƌĞůĂƚŝŽŶƐŚŝƉƐʹƐƵĐŚĂƐĂƐƐĞƐƐŵĞŶƚĂŶĚ ďƵƐŝŶĞƐƐŝŵƉƌŽǀĞŵĞŶƚĚŝƐƚƌŝĐƚƐʹŝŶǁŚŝĐŚƚŚĞĐŝƚǇĂĐƚƐƐŽůĞůǇĂƐĂƚƌƵƐƚĞĞŽƌĂŐĞŶƚĨŽƌƚŚĞďĞŶĞĨŝƚŽĨŽƚŚĞƌƐƚŽ ǁŚŽŵƚŚĞƌĞƐŽƵƌĐĞƐďĞůŽŶŐ͘

dŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂůƐŽŝŶĐůƵĚĞŶŽƚĞƐƚŚĂƚĞǆƉůĂŝŶƐŽŵĞŽĨƚŚĞŝŶĨŽƌŵĂƚŝŽŶŝŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚƉƌŽǀŝĚĞ ŐƌĞĂƚĞƌĚĞƚĂŝů͘dŚĞƐƚĂƚĞŵĞŶƚƐĂƌĞĂĐĐŽŵƉĂŶŝĞĚďǇƌĞƋƵŝƌĞĚƐƵƉƉůĞŵĞŶƚĂƌǇŝŶĨŽƌŵĂƚŝŽŶƚŚĂƚĨƵƌƚŚĞƌĞǆƉůĂŝŶĂŶĚƐƵƉƉŽƌƚ ƚŚĞŝŶĨŽƌŵĂƚŝŽŶŝŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘/ŶĂĚĚŝƚŝŽŶƚŽƚŚĞ ƐĞƌĞƋƵŝƌĞĚĞůĞŵĞŶƚƐŝƐƚŚĞ ĐŽŵďŝŶŝŶŐĨƵŶĚƐƚĂƚĞŵĞŶƚƐ ƐĞĐƚŝŽŶƚŚĂƚƉƌŽǀŝĚĞƐĨŝŶĂŶĐŝĂůŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞŶŽŶŵĂũŽƌŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ͕ŝŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐ͕ĂŶĚĨŝĚƵĐŝĂƌǇ ĨƵŶĚƐ͕ǁŚŝĐŚĂƌĞĂĚĚĞĚƚŽŐĞƚŚĞƌĂŶĚƉƌĞƐĞŶƚĞĚŝŶƐŝŶŐůĞĐŽůƵŵŶƐŝŶƚŚĞďĂƐŝĐĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘
dŚĞƌĞŵĂŝŶĚĞƌŽĨƚŚŝƐŽǀĞƌǀŝĞǁƐĞĐƚŝŽŶŽĨŵĂŶĂŐĞŵĞŶƚ͛ƐĚŝƐĐƵƐƐŝ ŽŶĂŶĚĂŶĂůǇƐŝƐ;DΘͿĞǆƉůĂŝŶƐƚŚĞƐƚƌƵĐƚƵƌĞĂŶĚ ĐŽŶƚĞŶƚŽĨĞĂĐŚŽĨƚŚĞƐƚĂƚĞŵĞŶƚƐ͘

'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ

dŚĞ'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐƌĞƉŽƌƚŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞĐŝƚǇĂƐĂǁŚŽůĞ͕ƵƐŝŶŐĂĐĐŽƵŶƚŝŶŐŵĞƚŚŽĚƐ ƐŝŵŝůĂƌƚŽƚŚŽƐĞƵƐĞĚďǇƉƌŝǀĂƚĞͲƐĞĐƚŽƌĐŽŵƉĂŶŝĞƐ͘dŚĞ^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶŝŶĐůƵĚĞƐ ĂůůŽĨƚŚĞĐŝƚǇ͛ƐĂƐƐĞƚƐĂŶĚ ůŝĂďŝůŝƚŝĞƐ͘ůůŽĨƚŚĞĐƵƌƌĞŶƚǇĞĂƌ͛ƐƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶƐĞƐĂƌĞĂĐĐŽƵŶƚĞĚĨŽƌŝŶƚŚĞ^ƚĂƚĞŵĞŶƚŽĨĐƚŝǀŝƚŝĞƐ͕ƌĞŐĂƌĚůĞƐƐŽĨ ǁŚĞŶĐĂƐŚŝƐƌĞĐĞŝǀĞĚŽƌƉĂŝĚ͘

dŚĞƚǁŽ'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐƌĞƉŽƌƚƚŚĞĐŝƚǇ͛ƐŶĞƚƉŽƐŝƚŝŽŶĂŶĚŚŽǁŝƚŚĂƐĐŚĂŶŐĞĚ͘EĞƚƉŽƐŝƚŝŽŶʹƚŚĞ ĚŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶƚŚĞĐŝƚǇ͛ƐĂƐƐĞƚƐĂŶĚůŝĂďŝůŝƚŝĞƐʹŝƐŽŶĞǁĂǇƚŽŵĞĂƐƵƌĞƚŚĞĐŝƚǇ͛ƐĨŝŶĂŶĐŝĂůŚĞĂůƚŚ͕Žƌ ƉŽƐŝƚŝŽŶ͘KǀĞƌ ƚŝŵĞ͕ŝŶĐƌĞĂƐĞƐŽƌĚĞĐƌĞĂƐĞƐŝŶƚŚĞĐŝƚǇ͛ƐŶĞƚƉŽƐŝƚŝŽŶĂƌĞĂŶŝŶĚŝĐĂƚŽƌŽĨǁŚĞƚŚĞƌƚŚĞĐŝƚǇ͛ƐĨŝŶĂŶĐŝĂůŚĞĂůƚŚŝƐŝŵƉƌŽǀŝŶŐ ŽƌĚĞƚĞƌŝŽƌĂƚŝŶŐ͕ƌĞƐƉĞĐƚŝǀĞůǇ͘ĚĚŝƚŝŽŶĂůŶŽŶͲĨŝŶĂŶĐŝĂůĨĂĐƚŽƌ ƐƐŚŽƵůĚďĞĐŽŶƐŝĚĞƌĞĚ͕ƐƵĐŚĂƐĐŚĂŶŐĞƐŝŶƚŚĞĐŝƚǇ͛Ɛ ƉƌŽƉĞƌƚǇƚĂǆďĂƐĞĂŶĚƚŚĞĐŽŶĚŝƚŝŽŶŽĨƚŚĞĐŝƚǇ͛ƐŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͕ƚŽĂƐƐĞƐƐƚŚĞŽǀĞƌĂůůŚĞĂůƚŚŽĨƚŚĞĐŝƚǇ͘

5 April 4, 2023
Item #5 Page 38 of 195
( City of
Carlsbad

dŚĞ'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐŽĨƚŚĞĐŝƚǇĂƌĞĚŝǀŝĚĞĚŝŶƚŽƚǁŽĐĂƚĞŐŽƌŝĞƐ͗
x 'ŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐʹDŽƐƚŽĨƚŚĞĐŝƚǇ͛ƐďĂƐŝĐƐĞƌǀŝĐĞƐ͕ƐƵĐŚĂƐƉŽůŝĐĞ͕ĨŝƌĞ͕ƉƵďůŝĐǁŽƌŬƐ͕ĐŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ͕ ĂŶĚŝŶƚĞƌŶĂůƐĞƌǀŝĐĞƐĂƌĞŝŶĐůƵĚĞĚŚĞƌĞ͘dĂǆĞƐ͕ƌĞǀĞŶƵĞƐĨƌŽŵŽ ƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐĂŶĚĂŐĞŶĐŝĞƐ͕ŝŶĐŽŵĞĨƌŽŵ ƉƌŽƉĞƌƚǇĂŶĚŝŶǀĞƐƚŵĞŶƚƐ͕ŐƌĂŶƚƐĂŶĚĐŽŶƚƌŝďƵƚŝŽŶƐ͕ĂŶĚĐŚĂƌŐĞƐĨŽƌƐĞƌǀŝĐĞƐĨŝŶĂŶĐĞŵŽƐƚŽĨƚŚĞƐĞĂĐƚŝǀŝƚŝĞƐ͘
x ƵƐŝŶĞƐƐͲƚǇƉĞ ĂĐƚŝǀŝƚŝĞƐʹdŚĞĐŝƚǇĐŚĂƌŐĞƐĨĞĞƐƚŽ ĐƵƐƚŽŵĞƌƐƚŽĐŽǀĞƌƚŚĞĐŽƐƚŽĨĐĞƌƚĂŝŶƐĞƌǀŝĐĞƐŝƚ
ƉƌŽǀŝĚĞƐ͘dŚĞĐŝƚǇ͛ƐǁĂƚĞƌ͕ǁĂƐƚĞǁĂƚĞƌ͕ƐŽůŝĚǁĂƐƚĞ
ĂŶĚ ŵƵŶŝĐŝƉĂů ŐŽůĨ ĐŽƵƌƐĞ ŽƉĞƌĂƚŝŽŶƐ ĂƌĞ ƚŚĞ
ƉƌŝŵĂƌǇďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐ͘

&ƵŶĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ

dŚĞ&ƵŶĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐƉƌŽǀŝĚĞŵŽƌĞĚĞƚĂŝůĞĚ
ŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞĐŝƚǇ͛ƐŵŽƐƚƐŝŐŶŝĨŝĐĂŶƚ ĨƵŶĚƐʹŶŽƚ ƚŚĞĐŝƚǇĂƐĂǁŚŽůĞ͘&ƵŶĚƐĂƌĞĂĐĐŽƵŶƚŝŶŐĚĞǀŝĐĞƐƵƐĞĚďǇ ƚŚĞĐŝƚǇƚŽŬĞĞƉƚƌĂĐŬŽĨƐƉĞĐŝĨŝĐƐŽƵƌĐĞƐŽĨĨƵŶĚŝŶŐĂŶĚ ƐƉĞŶĚŝŶŐĨŽƌƉĂƌƚŝĐƵůĂƌƉƵƌƉŽƐĞƐ͘

^ Ž ŵ Ğ Ĩ Ƶ Ŷ Ě Ɛ Ă ƌ Ğ ƌ Ğ Ƌ Ƶ ŝ ƌ Ğ Ě ď Ǉ Ɛ ƚ Ă ƚ Ğ ů Ă ǁ Ă Ŷ Ě ď Ž Ŷ Ě ĐŽǀĞŶĂŶƚƐ͕ ǁŚŝůĞ ƚŚĞ ĐŝƚǇ ĞƐƚĂďůŝƐŚĞƐ ŽƚŚĞƌ ĨƵŶĚƐ ƚŽ ĐŽŶƚƌŽů ĂŶĚ ŵĂŶĂŐĞ ŵŽŶĞǇ ĨŽƌ ƉĂƌƚŝĐƵůĂƌ ƉƵƌƉŽƐĞƐ ;ƐƵĐŚĂƐƚŚĞĚĞǀĞůŽƉĞƌŝŵƉĂĐƚĨĞĞĨƵŶĚƐͿŽƌƚŽƐŚŽǁƚŚĂƚ ŝƚŝƐƉƌŽƉĞƌůǇƵƐŝŶŐĐĞƌƚĂŝŶƚĂǆĞƐĂŶĚŐƌĂŶƚƐ;ƐƵĐŚĂƐƚŚĞ ^ĞĐƚŝŽŶϴZĞŶƚĂůƐƐŝƐƚĂŶĐĞ&ƵŶĚͿ͘

dŚĞĐŝƚǇŚĂƐƚŚƌĞĞŬŝŶĚƐŽĨĨƵŶĚƐ͗

x 'ŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐʹDŽƐƚŽĨƚŚĞĐŝƚǇ͛ƐďĂƐŝĐƐĞƌǀŝĐĞƐĂƌĞŝŶĐůƵĚĞĚŝŶŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ͘dŚĞƐĞĨƵŶĚƐĂƌĞƵƐĞĚƚŽ ĂĐĐŽƵŶƚĨŽƌ;ϭͿĐĂƐŚĂŶĚŽƚŚĞƌĨŝŶĂŶĐŝĂůĂƐƐĞƚƐƚŚĂƚĐĂŶƌĞĂĚŝůǇďĞĐŽŶǀĞƌƚĞĚƚŽĐĂƐŚĨůŽǁŝŶĂŶĚŽƵƚ͕ĂŶĚ;ϮͿďĂůĂŶĐĞƐ ůĞĨƚĂƚǇĞĂƌͲĞŶĚƚŚĂƚĂƌĞĂǀĂŝůĂďůĞĨŽƌĨƵƚƵƌĞƐƉĞŶĚŝŶŐ͘ŽŶƐĞƋƵĞŶƚůǇ͕ƚŚĞ'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ^ƚĂƚĞŵĞŶƚƉƌŽǀŝĚĞƐ ĂĚĞƚĂŝůĞĚƐŚŽƌƚͲƚĞƌŵǀŝĞǁƚŚĂƚŚĞůƉƐƚŚĞƌĞĂĚĞƌĚĞƚĞƌŵŝŶĞƚŚĞĂŵŽƵŶƚŽĨĨŝŶĂŶĐŝĂůƌ ĞƐŽƵƌĐĞƐƚŚĂƚĐĂŶďĞƐƉĞŶƚŝŶ ƚŚĞŶĞĂƌĨƵƚƵƌĞƚŽĨŝŶĂŶĐĞƚŚĞĐŝƚǇ͛ƐƉƌŽŐƌĂŵƐ͘dŚĞƐƚĂƚĞŵĞŶƚƐ ĂƌĞƉƌĞƐĞŶƚĞĚŽŶĂŵŽĚŝĨŝĞĚĂĐĐƌƵĂůďĂƐŝƐŽĨ ĂĐĐŽƵŶƚŝŶŐ͘ ƌĞĐŽŶĐŝůŝĂƚŝŽŶ ďĞƚǁĞĞŶ ƚŚĞ ůŽŶŐͲƚĞƌŵ ĂŶĚ ƐŚŽƌƚͲƚĞƌŵ ĨŽĐƵƐ ŽĨ ƚŚĞ 'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞ &ŝŶĂŶĐŝĂů ^ƚĂƚĞŵĞŶƚƐŝƐƉƌŽǀŝĚĞĚŝŵŵĞĚŝĂƚĞůǇĨŽůůŽǁŝŶŐĞĂĐŚƐƚĂƚĞŵĞŶƚ͘dŚĞƌĞĂƌĞĐƵƌƌĞŶƚůǇƚŚƌĞĞŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƚǇƉĞƐ ďĞŝŶŐƵƐĞĚďǇƚŚĞĐŝƚǇ͗ƚŚĞ'ĞŶĞƌĂů&ƵŶĚ͕ƐƉĞĐŝĂůƌĞǀĞŶƵĞĨƵŶĚƐ͕ĂŶĚĐĂƉŝƚĂůƉƌŽũĞĐƚĨƵŶĚƐ͘
x WƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐʹ^ĞƌǀŝĐĞƐĨŽƌǁŚŝĐŚƚŚĞĐŝƚǇĐŚĂƌŐĞƐĐƵƐƚŽŵĞƌƐĂĨĞĞĂƌĞŐĞŶĞƌĂůůǇƌĞƉŽƌƚĞĚŝŶƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐ͘ WƌŽƉƌŝĞƚĂƌǇ ĨƵŶĚƐ͕ ůŝŬĞ 'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞ &ŝŶĂŶĐŝĂů ^ƚĂƚĞŵĞŶƚƐ͕ ƉƌŽǀŝĚĞ ďŽƚŚ ůŽŶŐͲ ĂŶĚ ƐŚŽƌƚͲƚĞƌŵ ĨŝŶĂŶĐŝĂů ŝŶĨŽƌŵĂƚŝŽŶ͕ĂŶĚĂƌĞƉƌĞƐĞŶƚĞĚŽŶĂŶĂĐĐƌƵĂůďĂƐŝƐŽĨĂĐĐŽƵŶƚŝŶŐ͘
dŚĞƌĞĂƌĞƚǁŽƚǇƉĞƐŽĨƉƌŽƉƌŝĞƚǇĨƵŶĚƐ͕ĞŶƚĞƌƉƌŝƐĞĨƵŶĚƐĂŶĚŝŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐ͗
o
ŶƚĞƌƉƌŝƐĞĨƵŶĚƐĂƌĞƵƐĞĚƚŽƌĞƉŽƌƚĂĐƚŝǀŝƚŝĞƐƚŚĂƚƉƌŽǀŝĚĞďƵƐŝŶĞƐƐͲƚǇƉĞƐĞƌǀŝĐĞƐ͕ŐĞŶĞƌĂůůǇƚŽĞǆƚĞƌŶĂůĐƵƐƚŽŵĞƌƐ ʹƐƵĐŚĂƐǁĂƚĞƌ͕ǁĂƐƚĞǁĂƚĞƌ͕ƐŽůŝĚǁĂƐƚĞ͕ĂŶĚŐŽůĨƐĞƌǀŝĐĞƐ͘/Ŷ ďŽƚŚƚŚĞ'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ ĂŶĚƚŚĞ&ƵŶĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐ͕ƚŚĞƐĞĨƵŶĚƐĂƌĞƐŚŽǁŶƵŶĚĞƌďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐ͘
o /ŶƚĞƌŶĂůƐĞƌǀŝĐĞĨƵŶĚƐĂƌĞƵƐĞĚƚŽƌĞƉŽƌƚĂĐƚŝǀŝƚŝĞƐƚŚĂƚƉƌŽǀŝĚĞƐĞƌǀŝĐĞƐĂŶĚƐƵƉƉůŝĞƐĨŽƌƚŚĞĐŝƚǇ͛ƐŽƚŚĞƌƉƌŽŐƌĂŵƐ ĂŶĚĂĐƚŝǀŝƚŝĞƐʹƐƵĐŚĂƐĨůĞĞƚ͕ǁŽƌŬĞƌƐ͛ĐŽŵƉĞŶƐĂƚŝŽŶ͕ƌŝƐŬͬůŝĂďŝůŝƚǇ͕ĂŶĚŝŶĨŽƌŵĂƚŝŽŶƚĞĐŚŶŽůŽŐǇ͘
x &ŝĚƵĐŝĂƌǇĨƵŶĚƐʹdŚĞƐĞĨƵŶĚƐĂƌĞƵƐĞĚƚŽĂĐĐŽƵŶƚĨŽƌƐŝƚƵĂƚŝŽŶƐǁŚĞƌĞƚŚĞĐŝƚǇ͛ƐƌŽůĞŝƐƉƵƌĞůǇĐƵƐƚŽĚŝĂů͕ƐƵĐŚĂƐƚŚĞ ƌĞĐĞŝƉƚ͕ƚĞŵƉŽƌĂƌǇŝŶǀĞƐƚŵĞŶƚ͕ĂŶĚƌĞŵŝƚƚĂŶĐĞŽĨĨŝĚƵĐŝĂƌǇƌĞƐŽ ƵƌĐĞƐƚŽŝŶĚŝǀŝĚƵĂůƐ͕ƉƌŝǀĂƚĞŽƌŐĂŶŝǌĂƚŝŽŶƐ͕ŽƌŽƚŚĞƌ ŐŽǀĞƌŶŵĞŶƚƐ͘ůůŽĨƚŚĞĐŝƚǇ͛ƐĨŝĚƵĐŝĂƌǇĂĐƚŝǀŝƚŝĞƐĂƌĞƌĞƉŽƌƚĞĚŝŶĂƐĞƉĂƌĂƚĞ^ƚĂƚĞŵĞŶƚŽĨ&ŝĚƵĐŝĂƌǇEĞƚWŽƐŝƚŝŽŶ͘dŚĞƐĞ ĂĐƚŝǀŝƚŝĞƐ ĂƌĞ ĞǆĐůƵĚĞĚ ĨƌŽŵ ƚŚĞ ĐŝƚǇ͛Ɛ 'ŽǀĞƌŶŵĞŶƚͲǁŝĚĞ &ŝŶĂŶĐŝĂů ^ƚĂƚĞŵĞŶƚƐ ďĞĐĂƵƐĞ ƚŚĞ ĐŝƚǇ ĐĂŶŶŽƚ ƵƐĞ ƚŚĞƐĞ ĂƐƐĞƚƐƚŽĨŝŶĂŶĐĞŝƚƐŽƉĞƌĂƚŝŽŶƐ͘
6 April 4, 2023
Item #5 Page 39 of 195
( City of
Carlsbad
Required Components of the
Annual Financial Report
Management's
Discussion and
Analysis
Government
wide Financial
Statements
Summary
Basic Financial
Statements
Fund Financial
Statements
Required
Supplementary
Information
Notes to the
Financial
Statements
Detail

&ŝŶĂŶĐŝĂůŶĂůǇƐŝƐŽĨƚŚĞŝƚǇĂƐĂtŚŽůĞ

EĞƚWŽƐŝƚŝŽŶ

dŚĞĐŝƚǇ͛ƐĐŽŵďŝŶĞĚŶĞƚƉŽƐŝƚŝŽŶĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϮ͕ĂƐƐŚŽǁŶďĞůŽǁ͕ǁĂƐΨϭ͘ϴϳďŝůůŝŽŶ͘dŚĞĐŝƚǇ͛ƐŶĞƚƉŽƐŝƚŝŽŶŝŶĐƌĞĂƐĞĚ ďǇΨϲ͘ϲŵŝůůŝŽŶĂƐĐŽŵƉĂƌĞĚƚŽƚŚĞƉƌŝŽƌĨŝƐĐĂůǇĞĂƌ͘dŚŝƐŝŶĐƌĞĂƐĞǁĂƐŚĞĂǀŝůǇŝŵƉĂĐƚĞĚďǇƌĞǀĞŶƵĞƐĞǆĐĞĞĚŝŶŐĞǆƉĞŶƐĞƐ ĨŽƌƚŚĞǇĞĂƌ͕ĂŶΨϭϯ͘ϮŵŝůůŝŽŶŝŶĐƌĞĂƐĞŝŶĐĂƉŝƚĂůĂƐƐĞƚƐ͕ĂŶĚ ĂƐƵďƐƚĂŶƚŝĂůƌĞĚƵĐƚŝŽŶŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇƚŚĂƚǁĂƐŽĨĨƐĞƚ ǁŝƚŚĂŶŝŶĐƌĞĂƐĞŝŶĚĞĨĞƌƌĞĚŝŶĨůŽǁƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶ͘dŚĞŝŶ ĐƌĞĂƐĞŝŶĐĂƉŝƚĂůĂƐƐĞƚƐŝƐĚŝƐĐƵƐƐĞĚŝŶŵŽƌĞĚĞƚĂŝůŝŶƚŚĞ ĐĂƉŝƚĂůĂƐƐĞƚƐĞĐƚŝŽŶŽĨƚŚŝƐDΘ͘

ƐŶŽƚĞĚĞĂƌůŝĞƌ͕ŽǀĞƌƚŝŵĞ͕ŶĞƚƉŽƐŝƚŝŽŶŵĂǇƐĞƌǀĞĂƐĂƵƐĞĨƵůŝŶĚŝĐĂƚŽƌŽĨƚŚĞĐŝƚǇ͛ƐĨŝŶĂŶĐŝĂůƉŽƐŝƚŝŽŶ͘&ŽƌƚŚĞĐŝƚǇ͕ĂƐƐĞƚƐ ĂŶĚĚĞĨĞƌƌĞĚŽƵƚĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐĐƵƌƌĞŶƚůǇĞǆĐĞĞĚůŝĂďŝůŝƚŝĞƐĂŶĚĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐďǇΨϭ͘ϴϳďŝůůŝŽŶĂƚƚŚĞ ĐůŽƐĞŽĨƚŚĞĨŝƐĐĂůǇĞĂƌ͘

ůĂƌŐĞƉŽƌƚŝŽŶŽĨƚŚĞĐŝƚǇ͛ƐŶĞƚƉŽƐŝƚŝŽŶ͕ϲϮй͕ƌĞĨůĞĐƚƐŝƚƐŶĞƚŝŶǀĞƐƚŵĞŶƚŝŶĐĂƉŝƚĂůĂƐƐĞƚƐ;ŝ͘Ğ͕͘ůĂŶĚ͕ďƵŝůĚŝŶŐƐ͕ŵĂĐŚŝŶĞƌǇ͕ ĞƋƵŝƉŵĞŶƚ͕ĂŶĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞͿ͕ůĞƐƐĂŶǇƌĞůĂƚĞĚĚĞďƚƵƐĞĚƚŽĂĐƋƵŝƌĞƚŚŽƐĞĂƐƐĞƚƐƚŚĂƚŝƐƐƚŝůůŽƵƚƐƚĂŶĚŝŶŐ͘dŚĞĐŝƚǇƵƐĞƐ ƚŚĞƐĞĐĂƉŝƚĂůĂƐƐĞƚƐƚŽƉƌŽǀŝĚĞƐĞƌǀŝĐĞƐƚŽƌĞƐŝĚĞŶƚƐ͖ĐŽŶƐĞƋƵĞŶƚůǇ͕ƚŚĞƐĞĂƐƐĞƚƐĂƌĞ ŶŽƚĂǀĂŝůĂďůĞĨŽƌĨƵƚƵƌĞƐƉĞŶĚŝŶŐ͘ ůƚŚŽƵŐŚƚŚĞĐŝƚǇ͛ƐŝŶǀĞƐƚŵĞŶƚŝŶŝƚƐĐĂƉŝƚĂůĂƐƐĞƚƐŝƐƌĞƉŽƌƚĞ ĚŶĞƚŽĨƌĞůĂƚĞĚĚĞďƚ͕ƚŚĞƌĞƐŽƵƌĐĞƐŶĞĞĚĞĚƚŽƌĞƉĂǇƚŚŝƐ ĚĞďƚŵƵƐƚďĞƉƌŽǀŝĚĞĚĨƌŽŵŽƚŚĞƌƐŽƵƌĐĞƐƐŝŶĐĞƚŚĞĐĂƉŝƚĂůĂƐƐĞƚƐƚŚĞŵƐĞůǀĞƐǁŽƵůĚŶŽƚďĞƵƐĞĚƚŽƉĂǇĨŽƌƚŚĞƐĞ ůŝĂďŝůŝƚŝĞƐ͘dŚĞŶĞƚŝŶǀĞƐƚŵĞŶƚŝŶĐĂƉŝƚĂůĂƐƐĞƚƐĨŽƌƚŚĞĐŝƚǇŝŶĐƌĞĂƐĞĚƐůŝ ŐŚƚůǇĚƵƌŝŶŐĨŝƐĐĂůǇĞĂƌϮϬϮϭͲϮϮĚƵĞƉƌŝŵĂƌŝůǇƚŽ ƚŚĞƉƌŽŐƌĞƐƐŝŽŶŽĨĞǆŝƐƚŝŶŐĐĂƉŝƚĂůƉƌŽũĞĐƚƐŶĞƚƚĞĚǁŝƚŚĂĚĞĐƌĞĂƐĞŝŶŽƵƚƐƚĂŶĚŝŶŐĚĞďƚ;ƉƌŝŵĂƌŝůǇZĞĐǇĐůĞĚtĂƚĞƌͿ͘
KĨƚŚĞĐŝƚǇ͛ƐƚŽƚĂůŶĞƚƉŽƐŝƚŝŽŶ͕ϭϱ͘ϰйƌĞƉƌĞƐĞŶƚƐƌĞƐŽƵƌĐĞƐƚŚ ĂƚĂƌĞƐƵďũĞĐƚƚŽĞǆƚĞƌŶĂůƌĞƐƚƌŝĐƚŝŽŶƐŽŶƵƐĂŐĞ͘dŚĞ ƌĞŵĂŝŶŝŶŐďĂůĂŶĐĞŽĨƵŶƌĞƐƚƌŝĐƚĞĚŶĞƚƉŽƐŝƚŝŽŶ;Ψϰϭϱ͘ϰŵŝůůŝŽŶͿ ŵĂǇďĞƵƐĞĚƚŽŵĞĞƚƚŚĞĐŝƚǇ͛ƐŽŶŐŽŝŶŐŽďůŝŐĂƚŝŽŶƐƚŽ ƌĞƐŝĚĞŶƚƐĂŶĚĐƌĞĚŝƚŽƌƐ͘

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ϮϬϮϭ ϮϬϮϮ ϮϬϮϭ ϮϬϮϮ ϮϬϮϭ ϮϬϮϮ ϮϬϮϭͲϮϮ
ƵƌƌĞŶƚĂŶĚŽƚŚĞƌĂƐƐĞƚƐ Ψϲϳϱ͘ϱ ΨϲϴϬ͘ϭ ΨϮϭϴ͘ϱ ΨϮϭϳ͘Ϯ Ψϴϵϰ͘Ϭ Ψϴϵϳ͘ϯ Ϭ͘ϰ й EĞƚKW
ĂƐƐĞƚ Ϭ͘Ϭ Ϭ͘ϲ Ϭ͘Ϭ Ϭ͘ϭ Ϭ͘Ϭ Ϭ͘ϳ Eͬ
ĂƉŝƚĂůĂƐƐĞƚƐ ϳϴϵ͘ϯ ϴϬϴ͘ϱ ϯϳϱ͘Ϯ ϯϲϳ͘ϵ ϭ͕ϭϲϰ͘ϱ ϭ͕ϭϳϲ͘ϰ ϭ͘Ϭй dŽƚĂůĂƐƐĞƚƐ ϭ͕ϰϲϰ͘ϴ ϭ͕ϰϴϵ͘Ϯ ϱϵϯ͘ϳ ϱϴϱ͘Ϯ Ϯ͕Ϭϱϴ͘ϱ Ϯ͕Ϭϳϰ͘ϰ Ϭ͘ϴй ĞĨĞƌƌĞĚŽƵƚĨůŽǁƐ ϰϲ͘ϭ ϯϵ͘ϰ ϯ͘ϱ Ϯ͘ϵ ϰϵ͘ϲ ϰϮ͘ϯ Ͳϭϰ͘ϳй
KƚŚĞƌůŝĂďŝůŝƚŝĞƐ ϰϰ͘ϲ ϱϵ͘ϳ ϭϴ͘ϭ ϭϰ͘ϭ ϲϮ͘ϳ ϳϯ͘ϴ ϭϳ͘ϴй
EĞƚKW
ůŝĂďŝůŝƚǇ Ϯ͘ϴ Ϭ͘Ϭ Ϭ͘ϰ Ϭ͘Ϭ ϯ͘Ϯ Ϭ͘Ϭ ͲϭϬϬ͘Ϭй
EĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇ ϭϱϰ͘ϰ ϳϮ͘ϴ ϭϮ͘Ϭ ϰ͘ϴ ϭϲϲ͘ϰ ϳϳ͘ϲ Ͳϱϯ͘ϰй >ŽŶŐͲƚĞƌŵĚĞďƚŽƵƚƐƚĂŶĚŝŶŐ Ϭ͘Ϭ Ϭ͘Ϭ ϭϯ͘ϳ ϭϮ͘ϰ ϭϯ͘ϳ ϭϮ͘ϰ Ͳϵ͘ϱй dŽƚĂůůŝĂďŝůŝƚŝĞƐ ϮϬϭ͘ϴ ϭϯϮ͘ϱ ϰϰ͘Ϯ ϯϭ͘ϯ Ϯϰϲ͘Ϭ ϭϲϯ͘ϴ Ͳϯϯ͘ϰй ĞĨĞƌƌĞĚŝŶĨůŽǁƐ ϭ͘Ϭ ϳϰ͘ϳ Ϭ͘ϭ ϭϬ͘ϱ ϭ͘ϭ ϴϱ͘Ϯ ϳϲϰϱ͘ϱй
EĞƚƉŽƐŝƚŝŽŶ
EĞƚŝŶǀĞƐƚŵĞŶƚŝŶ
ĐĂƉŝƚĂůĂƐƐĞƚƐ ϳϴϵ͘ϯ ϴϬϴ͘ϱ ϯϲϭ͘ϱ ϯϱϱ͘ϱ ϭ͕ϭϱϬ͘ϴ ϭ͕ϭϲϰ͘Ϭ ϭ͘ϭй ZĞƐƚƌŝĐƚĞĚ Ϯϲϵ͘ϭ Ϯϰϵ͘ϯ ϰϭ͘ϱ ϯϴ͘ϵ ϯϭϬ͘ϲ Ϯϴϴ͘Ϯ Ͳϳ͘Ϯй
hŶƌĞƐƚƌŝĐƚĞĚ Ϯϰϵ͘ϳ Ϯϲϯ͘ϲ ϭϰϵ͘ϵ ϭϱϭ͘ϴ ϯϵϵ͘ϲ ϰϭϱ͘ϰ ϰ͘Ϭй dŽƚĂůŶĞƚƉŽƐŝƚŝŽŶ Ψϭ͕ϯϬϴ͘ϭ Ψϭ͕ϯϮϭ͘ϰ ΨϱϱϮ͘ϵ Ψϱϰϲ͘Ϯ Ψϭ͕ϴϲϭ͘Ϭ Ψϭ͕ϴϲϳ͘ϲ Ϭ͘ϰй dŽƚĂů
/dzK&Z>^Ζ^E
dWK^/d/KE
;ŝŶŵŝůůŝŽŶƐŽĨĚŽůůĂƌƐͿ
'ŽǀĞƌŶŵĞŶƚĂů
ĐƚŝǀŝƚŝĞƐ
ƵƐŝŶĞƐƐͲdǇƉĞ
ĐƚŝǀŝƚŝĞƐ
7 April 4, 2023
Item #5 Page 40 of 195
( City of
Carlsbad

dŚĞƌĞŵĂŝŶŝŶŐŶĞƚƉŽƐŝƚŝŽŶŝƐƵŶƌĞƐƚƌŝĐƚĞĚ͕ŵĞĂŶŝŶŐŝƚĐĂŶďĞƵ ƐĞĚĨŽƌĨƵƚƵƌĞƐƉĞŶĚŝŶŐĂŶĚůĂƌŐĞůǇĐŽŝŶĐŝĚĞĚǁŝƚŚƚŚĞ ĚĞĐƌĞĂƐĞŝŶŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇŽĨĨƐĞƚǁŝƚŚĂŶŝŶĐƌĞĂƐĞŝŶĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶ͘EŽƚĂďůǇ͕ƚŚĞ ƵŶƌĞƐƚƌŝĐƚĞĚŶĞƚƉŽƐŝƚŝŽŶŽĨŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐŝŶĐƌĞĂƐĞĚ͕ůĂƌŐĞůǇĚƵĞƚŽĨůƵĐƚƵĂƚŝŽŶƐǁŝƚŚƉĞŶƐŝŽŶĂĐƚŝǀŝƚŝĞƐĂŶĚƚŚĞ ďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐďĂůĂŶĐĞŝŶĐƌĞĂƐĞĚƐůŝŐŚƚůǇǁŝƚŚƌĞůĂƚŝǀĞůǇŵŝŶŝŵĂůĐŚĂŶŐĞŽǀĞƌƚŚĞƉƌĞǀŝŽƵƐĨŝƐĐĂůǇĞĂƌ͘
ŚĂŶŐĞƐŝŶEĞƚWŽƐŝƚŝŽŶ

dŚĞĐŽŶĚĞŶƐĞĚƐƵŵŵĂƌǇŽĨĂĐƚŝǀŝƚŝĞƐďĞůŽǁƐŚŽǁƐƚŚĂƚŶĞƚƉŽƐŝƚŝ ŽŶŝŶĐƌĞĂƐĞĚďǇΨϲ͘ϲŵŝůůŝŽŶĚƵƌŝŶŐƚŚĞǇĞĂƌ͘dŚŝƐ ŝŶĐƌĞĂƐĞŽĐĐƵƌƐǁŚĞŶƌĞǀĞŶƵĞƐĞĂƌŶĞĚĂƌĞŐƌĞĂƚĞƌƚŚĂŶĞǆƉĞŶƐĞƐŝŶĐƵƌƌĞĚ͘

dŽƚĂů
WĞƌĐĞŶƚĂŐĞ
ŚĂŶŐĞ
ϮϬϮϭ ϮϬϮϮ ϮϬϮϭ ϮϬϮϮ ϮϬϮϭ ϮϬϮϮ ϮϬϮϭͲϮϮ
ZĞǀĞŶƵĞƐ
WƌŽŐƌĂŵƌĞǀĞŶƵĞƐ
ŚĂƌŐĞƐĨŽƌƐĞƌǀŝĐĞƐ ΨϮϬ͘Ϭ Ψϭϵ͘ϰ Ψϳϱ͘Ϯ Ψϳϵ͘ϲ Ψϵϱ͘Ϯ Ψϵϵ͘Ϭ ϰ͘Ϭй KƉĞƌĂƚŝŶŐŐƌĂŶƚƐĂŶĚĐŽŶƚƌŝďƵƚŝŽŶƐ Ϯϲ͘ϱ ϮϬ͘ϰ ϯ͘ϱ Ϭ͘Ϯ ϯϬ͘Ϭ ϮϬ͘ϲ Ͳϯϭ͘ϰй ĂƉŝƚĂůŐƌĂŶƚƐĂŶĚĐŽŶƚƌŝďƵƚŝŽŶƐ ϵ͘ϲ ϵ͘ϵ ϳ͘ϲ Ϭ͘ϵ ϭϳ͘Ϯ ϭϬ͘ϴ Ͳϯϳ͘ϱй 'ĞŶĞƌĂůƌĞǀĞŶƵĞƐ
WƌŽƉĞƌƚǇƚĂǆĞƐ ϳϴ͘Ϯ ϴϭ͘Ϭ ϰ͘ϱ ϰ͘ϳ ϴϮ͘ϳ ϴϱ͘ϳ ϯ͘ϲй ^ĂůĞƐĂŶĚƵƐĞƚĂǆĞƐ ϰϮ͘ϲ ϱϭ͘Ϯ Ͳ Ͳ ϰϮ͘ϲ ϱϭ͘Ϯ ϮϬ͘Ϯй KƚŚĞƌƚĂǆĞƐ Ϯϴ͘ϴ ϰϳ͘ϲ Ͳ Ϯ͘ϯ Ϯϴ͘ϴ ϰϵ͘ϵ ϳϯ͘ϭй /ŶĐŽŵĞĨƌŽŵƉƌŽƉĞƌƚǇĂŶĚŝŶǀĞƐƚŵĞŶƚƐ ϱ͘ϭ ;ϮϮ͘ϭͿ Ϭ͘ϲ ;ϳ͘ϳͿ ϱ͘ϳ ;Ϯϵ͘ϴͿ ͲϲϮϮ͘ϴй KƚŚĞƌ Ϭ͘ϱ ϭ͘ϯ Ͳ Ͳ Ϭ͘ϱ ϭ͘ϯ ϭϲϬ͘Ϭй dŽƚĂůƌĞǀĞŶƵĞƐ Ϯϭϭ͘ϯ ϮϬϴ͘ϳ ϵϭ͘ϰ ϳϵ͘ϵ ϯϬϮ͘ϳ Ϯϴϴ͘ϲ Ͳϰ͘ϳй

ǆƉĞŶƐĞƐ
'ĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚ ϮϬ͘Ϭ ϭϰ͘ϴ Ͳ Ͳ ϮϬ͘Ϭ ϭϰ͘ϴ ͲϮϲ͘Ϭй WƵďůŝĐƐĂĨĞƚǇ ϴϬ͘ϯ ϴϭ͘ϭ Ͳ Ͳ ϴϬ͘ϯ ϴϭ͘ϭ ϭ͘Ϭй ŽŵŵƵŶŝƚǇƐĞƌǀŝĐĞƐ ϱϳ͘ϳ ϱϵ͘Ϭ Ͳ Ͳ ϱϳ͘ϳ ϱϵ͘Ϭ Ϯ͘ϯй WƵďůŝĐǁŽƌŬƐ ϯϱ͘ϱ ϯϵ͘Ϯ Ͳ Ͳ ϯϱ͘ϱ ϯϵ͘Ϯ ϭϬ͘ϰй ĂƌůƐďĂĚDƵŶŝĐŝƉĂůtĂƚĞƌŝƐƚƌŝĐƚ Ͳ Ͳ ϱϲ͘ϯ ϱϯ͘ϲ ϱϲ͘ϯ ϱϯ͘ϲ Ͳϰ͘ϴй 'ŽůĨĐŽƵƌƐĞ Ͳ Ͳ ϭϬ͘ϯ ϭϭ͘ϳ ϭϬ͘ϯ ϭϭ͘ϳ ϭϯ͘ϲй
tĂƐƚĞǁĂƚĞƌ Ͳ Ͳ ϵ͘Ϭ ϭϳ͘ϵ ϵ͘Ϭ ϭϳ͘ϵ ϵϴ͘ϵй ^ŽůŝĚǁĂƐƚĞ Ͳ Ͳ ϱ͘ϭ ϰ͘ϳ ϱ͘ϭ ϰ͘ϳ Ͳϳ͘ϴй dŽƚĂůĞǆƉĞŶƐĞƐ ϭϵϯ͘ϱ ϭϵϰ͘ϭ ϴϬ͘ϳ ϴϳ͘ϵ Ϯϳϰ͘Ϯ ϮϴϮ͘Ϭ Ϯ͘ϴй
ǆĐĞƐƐ;ĚĞĨŝĐŝĞŶĐǇͿďĞĨŽƌĞƚƌĂŶƐĨĞƌƐ ϭϳ͘ϴ ϭϰ͘ϲ ϭϬ͘ϳ ;ϴ͘ϬͿ Ϯϴ͘ϱ ϲ͘ϲ Ͳϳϲ͘ϵй ^ƉĞĐŝĂůŝƚĞŵƐͲ'ŽůĨŽƵƌƐĞĚĞďƚ ;ϴ͘ϰͿ Ͳ ϴ͘ϰ Ͳ Ͳ Ͳ Ϭ͘Ϭй dƌĂŶƐĨĞƌƐ ;ϰϳ͘ϯͿ ;ϭ͘ϯͿ ϰϳ͘ϯ ϭ͘ϯ Ͳ Ͳ Ϭ͘Ϭй /ŶĐƌĞĂƐĞ;ĚĞĐƌĞĂƐĞͿŝŶŶĞƚƉŽƐŝƚŝŽŶ ;ϯϳ͘ϵͿ ϭϯ͘ϯ ϲϲ͘ϰ ;ϲ͘ϳͿ Ϯϴ͘ϱ ϲ͘ϲ Ͳϳϲ͘ϵй ĞŐŝŶŶŝŶŐƉŽƐŝƚŝŽŶ ϭ͕ϯϰϲ͘Ϭ ϭ͕ϯϬϴ͘ϭ ϰϴϲ͘ϱ ϱϱϮ͘ϵ ϭ͕ϴϯϮ͘ϱ ϭ͕ϴϲϭ͘Ϭ ϭ͘ϲй

ŶĚŝŶŐŶĞƚƉŽƐŝƚŝŽŶ Ψϭ͕ϯϬϴ͘ϭ Ψϭ͕ϯϮϭ͘ϰ ΨϱϱϮ͘ϵ Ψϱϰϲ͘Ϯ Ψϭ͕ϴϲϭ͘Ϭ Ψϭ͕ϴϲϳ͘ϲ Ϭ͘ϰй ĐƚŝǀŝƚŝĞƐ ĐƚŝǀŝƚŝĞƐ dŽƚĂů
/dzK&Z>^Ζ^,E'
^/EE
dWK^/d/KE
;ŝŶŵŝůůŝŽŶƐŽĨĚŽůůĂƌƐͿ
'ŽǀĞƌŶŵĞŶƚĂů ƵƐŝŶĞƐƐͲdǇƉĞ
8 April 4, 2023
Item #5 Page 41 of 195
( City of
Carlsbad

dŚĞƌĞǁĞƌĞƐĞǀĞƌĂůƌĞĂƐŽŶƐĨŽƌƚŚĞŝŶĐƌĞĂƐĞŝŶŶĞƚƉŽƐŝƚŝŽŶ͗
x /ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂůƌĞǀĞŶƵĞƐƌĞĐĞŝǀĞĚĨƌŽŵKs/ͲϭϵƌĞůĂƚĞĚƉƌŽŐƌĂŵƐƐƵĐŚĂƐƚŚĞŵĞƌŝĐĂŶZĞƐĐƵĞWůĂŶĐƚ x ĐĐĞůĞƌĂƚĞĚƌĞĐŽǀĞƌǇĨƌŽŵƚŚĞĂĚǀĞƌƐĞĨŝƐĐĂůŝŵƉĂĐƚƐŽĨKs/Ͳϭϵ͕ƐƉĞĐŝĨŝĐĂůůǇǁŝƚŚƐĂůĞƐƚĂǆĂŶĚƚƌĂŶƐŝĞŶƚ ŽĐĐƵƉĂŶĐǇƚĂǆ
x &ŝƐĐĂůĚŝƐĐŝƉůŝŶĞŝŵƉůĞŵĞŶƚĞĚďǇƚŚĞĐŝƚǇĚƵĞƚŽƵŶĐĞƌƚĂŝŶƚǇƐƵƌƌŽƵŶĚŝŶŐKs/ͲϭϵƌĞƐƚƌŝĐƚŝŽŶƐĂŶĚƚŚĞĞĐŽŶŽŵǇ ƌĞƐƵůƚĞĚŝŶďƵĚŐĞƚĂƌǇƐĂǀŝŶŐƐ
x dŚĞƐĞƌĞƐƵůƚŝŶŐŝŶĐƌĞĂƐĞƐǁĞƌĞƐŝŐŶŝĨŝĐĂŶƚůǇŽĨĨƐĞƚďǇŝŶǀĞƐƚŵĞŶƚůŽƐƐĞƐ;ĨĂŝƌŵĂƌŬĞƚǀĂůƵĞĂĚũƵƐƚŵĞŶƚƐͿĚƵĞƚŽ ƌŝƐŝŶŐŝŶĨůĂƚŝŽŶĂŶĚĐŽƌƌĞƐƉŽŶĚŝŶŐƐƉŝŬĞƐŝŶŝŶƚĞƌĞƐƚƌĂƚĞƐƚŚƌŽƵŐŚŽƵƚƚŚĞĨŝƐĐĂůǇĞĂƌ
ƉƉƌŽǆŝŵĂƚĞůǇ ϴϲй ŽĨ ƚŚĞ ƌĞǀĞŶƵĞƐ ŽĨ ƚŚĞ ĐŝƚǇ͛Ɛ ŐŽǀĞƌŶŵĞŶƚĂů ĂĐƚŝǀŝƚŝĞƐ ĂƌĞ ŐĞŶĞƌĂƚĞĚ ƚŚƌŽƵŐŚ ƚĂǆĞƐ ĐŽůůĞĐƚĞĚ ;ŝ͘Ğ͕͘ƉƌŽƉĞƌƚǇƚĂǆ͕ƐĂůĞƐƚĂǆ͕ƚƌĂŶƐŝĞŶƚŽĐĐƵƉĂŶĐǇƚĂǆ͕ĞƚĐ͘Ϳ͕ĂŶĚĂƉƉƌŽǆŝŵĂƚĞůǇϵϵйŽĨƚŚĞĐŝƚǇ͛ƐďƵƐŝŶĞƐƐͲƚǇƉĞƌĞǀĞŶƵĞŝƐ ŐĞŶĞƌĂƚĞĚƚŚƌŽƵŐŚĐŚĂƌŐĞƐĨŽƌƐĞƌǀŝĐĞƐ͘dŚĞĐŚĂƌƚďĞůŽǁŐƌĂƉŚŝĐĂůůǇĚĞƉŝĐƚƐƚŚĞĐŝƚǇ͛ƐƌĞǀĞŶƵĞƐŽƵƌĐĞƐ͘

tŚŝůĞƚŚĞĐŝƚǇ͛ƐƌĞǀĞŶƵĞƐ͕ƉĂƌƚŝĐƵůĂƌůǇƚƌĂŶƐŝĞŶƚŽĐĐƵƉĂŶĐǇƚĂǆ͕ƐĂůĞƐƚĂǆĂŶĚƌĞĐƌĞĂƚŝŽŶƌĞůĂƚĞĚƌĞǀĞŶƵĞƐ͕ǁĞƌĞƉƌŽũĞĐƚĞĚ ƚŽƌĞĐŽǀĞƌĐŽŵƉĂƌĞĚƚŽĨŝƐĐĂůǇĞĂƌϮϬϮϬͲϮϭ͕ƚŚĞǇǁĞƌĞƐƚŝůůƉƌŽ ũĞĐƚĞĚƚŽďĞƐŝŐŶŝĨŝĐĂŶƚůǇŝŵƉĂĐƚĞĚďǇKs/ͲϭϵƌĞůĂƚĞĚ ƌĞƐƚƌŝĐƚŝŽŶƐ͘ ƵĞƚŽ ƉĞ ŶƚͲƵ Ɖ ĚĞŵĂŶ ĚĂ ŶĚ ƚŚĞĞĂƐŝŶŐ Ž ĨƌĞƐƚƌŝĐƚŝŽŶƐƌĞů ĂƚĞĚƚŽ K s/Ͳϭ ϵ͕ ƚŚĞ Ĩŝ ƐĐĂů ƌĞĐŽǀĞƌ ǇǁĂƐ ĂĐĐĞůĞƌĂƚĞĚ͕ĂŶĚƚŚĞĐŝƚǇĞǆƉĞƌŝĞŶĐĞĚŚŝƐƚŽƌŝĐĂůůǇŚŝŐŚůĞǀĞůƐŽĨƌĞǀĞŶƵĞƐ͕ŶŽƚĂďůǇĨŽƌƐĂůĞƐĂŶĚƚƌĂŶƐŝĞŶƚŽĐĐƵƉĂŶĐǇƚĂǆ͘ ^ĂůĞƐƚĂǆĞŶĚĞĚƚŚĞĨŝƐĐĂůǇĞĂƌǁŝƚŚΨϱϭ͘ϮŵŝůůŝŽŶĂŶĚƚŚĞǇĞĂƌͲŽǀĞƌͲǇĞĂƌŝŶĐƌĞĂƐĞŽĨΨϴ͘ϲŵŝůůŝŽŶŽƌϮϬ͘ϮйǁĂƐĚƌŝǀĞŶďǇ ƚŚĞĐŝƚǇ͛ƐƚƌĂŶƐƉŽƌƚĂƚŝŽŶ͕ƌĞƚĂŝů͕ĂŶĚƌĞƐƚĂƵƌĂŶƚŝŶĚƵƐƚƌǇŐƌŽƵ ƉƐ͘dƌĂŶƐŝĞŶƚŽĐĐƵƉĂŶĐǇƚĂǆĞŶĚĞĚƚŚĞĨŝƐĐĂůǇĞĂƌǁŝƚŚ ΨϯϮ͘ϰŵŝůůŝŽŶ͕ĂŶŝŶĐƌĞĂƐĞŽĨΨϭϲ͘ϴŵŝůůŝŽŶŽƌϭϬϳй͕ĂŶĚǁĂƐĚƌ ŝǀĞŶďǇĂĐŽŵďŝŶĂƚŝŽŶŽĨƉĞŶƚͲƵƉĚĞŵĂŶĚ͕ĞĂƐŝŶŐŽĨ Ks/ͲϭϵƌĞƐƚƌŝĐƚŝŽŶƐ͕ĂŶĚĂŶŝŶĐƌĞĂƐĞŝŶĂǀĞƌĂŐĞĚĂŝůǇƌŽŽŵƌĂƚĞƐ͘
dŚĞĐŝƚǇ͛ƐůĂƌŐĞƐƚƌĞǀĞŶƵĞƐŽƵƌĐĞ͕ƉƌŽƉĞƌƚǇƚĂǆĞƐ͕ŝŶĐƌĞĂƐĞĚĚƵĞƚŽĂƐƐĞƐƐĞĚǀĂůƵĞƐŝŶĐƌĞĂƐŝŶŐŝŶƚŽƚĂůĨŽƌĂůůĐŽŵƉŽŶĞŶƚƐ͗ ƌĞƐŝĚĞŶƚŝĂů͕ĐŽŵŵĞƌĐŝĂůĂŶĚŝŶĚƵƐƚƌŝĂůƉƌŽƉĞƌƚŝĞƐ͘dŚŝƐǁĂƐƚŚĞƐĞǀĞŶƚŚǇĞĂƌŝŶĂƌŽǁƚŚĂƚƚŚĞĐŝƚǇŚĂĚŐƌŽǁƚŚŝŶĂůůƚŚƌĞĞ ĂƐƐĞƐƐĞĚǀĂůƵĞĐŽŵƉŽŶĞŶƚƐ͘,ŽǁĞǀĞƌ͕ĨŝƐĐĂůǇĞĂƌϮϬϮϭͲϮϮǁĂƐƚŚĞĨŝƌƐƚƚŝŵĞƐŝŶĐĞĨŝƐĐĂůǇĞĂƌϮϬϭϲͲϭϳƚŚĂƚƚŚĞŵĂǆŝŵƵŵ ŝŶĐƌĞĂƐĞŽĨĂƐƐĞƐƐĞĚǀĂůƵĞƐ͕ǁŚŝĐŚǁĂƐϭ͘Ϭϯϲй͕ĨĞůůďĞůŽǁƚŚĞϮйĐĂƉ͘
dŚĞĐŝƚǇĞǆƉĞƌŝĞŶĐĞĚĂŶŝŶĐƌĞĂƐĞŝŶďƵƐŝŶĞƐƐůŝĐĞŶƐĞƌĞǀĞŶƵĞĚƌŝǀĞŶďǇĂŶŝŶĐƌĞĂƐĞŝŶůĂƚĞͲƉĂǇŵĞŶƚƉĞŶĂůƚŝĞƐƚŚĂƚƌĞƐƵůƚĞĚ ĨƌŽŵKs/ͲϭϵĂŶĚŝƚƐŝŵƉĂĐƚƐŽŶďƵƐŝŶĞƐƐĞƐ͘ĞǀĞůŽƉŵĞŶƚƌĞŵĂŝŶ ĞĚƌĞůĂƚŝǀĞůǇƐƚƌŽŶŐĨŽƌƚŚĞǇĞĂƌĂŶĚŝŶĐƌĞĂƐĞĚ ŵĂƌŬĞĚůǇĐŽŵƉĂƌĞĚƚŽƚŚĞƉƌĞǀŝŽƵƐĨŝƐĐĂůǇĞĂƌ͘dŚĞƌĞǁĂƐǀĞƌǇůŝƚƚůĞĐŽŵŵĞƌĐŝĂůĂŶĚŝŶĚƵƐƚƌŝĂůĚĞǀĞůŽƉŵĞŶƚĚƵƌŝŶŐƚŚĞ ǇĞĂƌ͕ƐŝŵŝůĂƌƚŽƚŚĞƉƌŝŽƌĨŝƐĐĂůǇĞĂƌ͘

9 April 4, 2023
Item #5 Page 42 of 195
('city of
Carlsbad
Sources of Revenue for Fiscal Year 2021-22
$288.6 Million
• Charges f0< Services 3596
■ Property Tax 3196
Sales Tax 1896
■ Federal and State Aid 896
■ Contributions fr0<n Property Owners 196
Transient Occupancy Tax 1156
Other Taxes and Revenues -496

/ŶĐŽŵĞĨƌŽŵƉƌŽƉĞƌƚǇĂŶĚŝŶǀĞƐƚŵĞŶƚƐǁĞƌĞŚĞĂǀŝůǇŝŵƉĂĐƚĞĚďǇƵ ŶƌĞĂůŝǌĞĚůŽƐƐĞƐĐƌĞĂƚĞĚďǇĂĚũƵƐƚŝŶŐƚŚĞĐŝƚǇ͛Ɛ ŝŶǀĞƐƚŵĞŶƚƐƚŽƚŚĞŝƌĨĂŝƌŵĂƌŬĞƚǀĂůƵĞĂƚ:ƵŶĞϯϬ͕ϮϬϮϮ͘ZŝƐŝŶŐŝŶĨůĂƚŝŽŶƚŚƌŽƵŐŚŽƵƚƚŚĞĨŝƐĐĂůǇĞĂƌƚƌŝŐŐĞƌĞĚŝŶƚĞƌĞƐƚƌĂƚĞ ŚŝŬĞƐĨƌŽŵƚŚĞ&ĞĚĞƌĂůZĞƐĞƌǀĞǁŚŝĐŚŚĂĚĂƐƵďƐƚĂŶƚŝĂůŝŵƉĂĐƚŽŶƚŚĞŵĂƌŬĞƚǀĂůƵĞŽĨƚŚĞĐŝƚǇ͛ƐƉŽƌƚĨŽůŝŽ͖ŚŽǁĞǀĞƌ͕ǁŝƚŚ ƌŝƐŝŶŐƌĂƚĞƐ͕ƚŚĞĐŝƚǇ͛ƐƉŽƌƚĨŽůŝŽďĞŐĂŶƚŽƐĞĞĐŽŶƚŝŶƵĞĚŝŶĐƌĞĂƐĞƐŝŶŝƚƐŵŽŶƚŚůǇǇŝĞůĚ͘
dŚĞƉƌŝŵĂƌǇĐŽŶƚƌŝďƵƚŽƌƐƚŽƚŚĞĐŝƚǇ͛ƐĐŚĂƌŐĞƐĨŽƌƐĞƌǀŝĐĞƐĂƌĞǁĂƚĞƌĂŶĚǁĂƐƚĞǁĂƚĞƌĐƵƐƚŽŵĞƌƐ͘ƐůŝŐŚƚĚĞĐƌĞĂƐĞŝŶƚŽƚĂů ǁĂƚĞƌƌĞǀĞŶƵĞƐǁĂƐĚƌŝǀĞŶƉƌŝŵĂƌŝůǇďǇƌĂƚĞŝŶĐƌĞĂƐĞƐŝŵƉůĞŵĞŶƚĞĚŝŶ:ĂŶƵĂƌǇϮϬϮϭƚŚĂƚǁĞƌĞŽĨĨƐĞƚďǇĂƐůŝŐŚƚƌĞĚƵĐƚŝŽŶ ǀŽůƵŵĞ͘tĂƐƚĞǁĂƚĞƌĐŚĂƌŐĞƐŝŶĐƌĞĂƐĞĚĚƵĞƚŽƌĂƚĞŝŶĐƌĞĂƐĞƐĂŶĚ ĚĞǀĞůŽƉŵĞŶƚƚŚƌŽƵŐŚŽƵƚƚŚĞĐŝƚǇ͘dŽŐĞƚŚĞƌ͕ƚŚĞƐĞ ĨĂĐƚŽƌƐůĞĚƚŽĂŶŽǀĞƌĂůůŝŶĐƌĞĂƐĞŝŶĐŚĂƌŐĞƐĨŽƌƐĞƌǀŝĐĞƐĨŽƌ ƚŚĞǇĞĂƌĨŽƌďŽƚŚǁĂƚĞƌĂŶĚǁĂƐƚĞǁĂƚĞƌ͘ĚĚŝƚŝŽŶĂůůǇ͕ƚŚĞ ĐŝƚǇ͛ƐŵƵŶŝĐŝƉĂůŐŽůĨĐŽƵƌƐĞĞǆƉĞƌŝĞŶĐĞĚĂŶŝŶĐƌĞĂƐĞŝŶĐŚĂƌŐĞƐĨŽƌƐĞƌǀŝĐĞƐĚƵĞƚŽŚŝŐŚĞƌĚĞŵĂŶĚĨŽƌĂůůŽǁĂďůĞƌĞĐƌĞĂƚŝŽŶ ĂĐƚŝǀŝƚŝĞƐĚƵƌŝŶŐƚŚĞƐŚƵƚĚŽǁŶ͘

dŚĞƚŽƚĂůĐŽƐƚŽĨĂůůƉƌŽŐƌĂŵƐĂŶĚƐĞƌǀŝĐĞƐǁĂƐΨϮϴϮ͘ϬŵŝůůŝŽŶŝŶĨŝƐĐĂůǇĞĂƌϮϬϮϭͲϮϮǁŚŝĐŚǁĂƐŵŽĚĞƌĂƚĞůǇŚŝŐŚĞƌ;Ϯ͘ϴйͿ ƚŚĂŶƉƌŝŽƌĨŝƐĐĂůǇĞĂƌĐŽƐƚƐŽĨΨϮϳϰ͘ϮŵŝůůŝŽŶ͘dŚĞŵĂũŽƌŝƚǇŽĨ ƚŚĞŝŶĐƌĞĂƐĞŝŶƉƌŽŐƌĂŵĐŽƐƚƐĐĂŵĞĨƌŽŵŶĞŐŽƚŝĂƚĞĚĂŶĚ ĐŽŶƚƌĂĐƚƵĂůƐĂůĂƌǇĂŶĚďĞŶĞĨŝƚĐŽƐƚŝŶĐƌĞĂƐĞƐ͘/ŶĐƌĞĂƐĞƐǁĞƌĞĂ ůƐŽĚƌŝǀĞŶďǇĂƌĞƚƵƌŶŽĨƚƌĂǀĞůĂŶĚƚƌĂŝŶŝŶŐĐŽƐƚƐ͕ƚŚĞ ƌĞƐƵŵŝŶŐŽĨŶĞǁƉƌŽŐƌĂŵƐĂŶĚƐƚĂĨĨŚŝƌŝŶŐƚŚĂƚǁĞƌĞƌĞĚƵĐĞĚĂŶĚ ĚĞĨĞƌƌĞĚŝŶƌĞƐƉŽŶƐĞƚŽKs/Ͳϭϵ͘ ĂĐŚǇĞĂƌ͕
ƐƵƉƉůĞŵĞŶƚĂůďƵĚŐĞƚƌĞƋƵĞƐƚƐ͕ŝŶĂĚĚŝƚŝŽŶƚŽƚŚĞĐŝƚǇ͛ƐŽŶŐŽŝŶŐďĂƐĞďƵĚŐĞƚ͕ĂƌĞĐŽŶƐŝĚĞƌĞĚ͘/Ŷ&zϮϬϮϭͲϮϮ͕ďƵĚŐĞƚŝƚĞŵƐ ƐƵĐŚĂƐƚŚĞŚŽŵĞůĞƐƐǁŽƌŬƉůĂŶ͕'ƌŽǁƚŚDĂŶĂŐĞŵĞŶƚWůĂŶŝƚŝǌĞŶƐ ŽŵŵŝƚƚĞĞ͕&ŝƌĞĞƉĂƌƚŵĞŶƚ^ƚĂŶĚĂƌĚƐŽĨŽǀĞƌ ŝŵƉůĞŵĞŶƚĂƚŝŽŶ͕ĂŶĚƚƌĂĨĨŝĐĂŶĚŵŽďŝůŝƚǇĞĨĨŽƌƚƐĐŽŶƚƌŝďƵƚĞĚƚŽƚŚĞŝŶĐƌĞĂƐĞ͘dŚĞĐŝƚǇ͛ƐǁĂƚĞƌĚŝƐƚƌŝĐƚĂůƐŽƐĂǁŝŶĐƌĞĂƐĞƐ ĂƐƚŚĞĐŽƐƚŽĨǁĂƚĞƌĂŶĚĂŵŽƵŶƚŽĨǁĂƚĞƌƉƵƌĐŚĂƐĞĚŝŶĐƌĞĂƐĞĚ͘

x 'ĞŶĞƌĂů'ŽǀĞƌŶŵĞŶƚ;ϱйͿ
dŚŝƐƐĞŐŵĞŶƚŽĨƚŚĞĐŝƚǇŝƐĚŝǀŝĚĞĚŝŶƚŽƚŚƌĞĞŵĂũŽƌŐƌŽƵƉƐ͗WŽ ůŝĐǇΘ>ĞĂĚĞƌƐŚŝƉ͕ĚŵŝŶŝƐƚƌĂƚŝǀĞ^ĞƌǀŝĐĞƐĂŶĚ ŶŽŶͲĚĞƉĂƌƚŵĞŶƚĂůĐŚĂƌŐĞƐ͘dŚĞWŽůŝĐǇĂŶĚ>ĞĂĚĞƌƐŚŝƉŐƌŽƵƉĞŶĐŽŵƉĂƐƐĞƐĂůůĞůĞĐƚĞĚŽĨĨŝĐŝĂůƐ͕ƚŚĞŝƚǇDĂŶĂŐĞƌĂŶĚ ŝƚǇƚƚŽƌŶĞǇŽĨĨŝĐĞƐ͕ƚŚĞŽŵŵƵŶŝĐĂƚŝŽŶƐΘ
ŶŐĂŐĞŵĞŶƚƚĞĂŵ͕ĂŶ ĚƚŚĞ>ĞŐŝƐůĂƚŝǀĞΘŽŶƐƚŝƚƵĞŶƚ^ĞƌǀŝĐĞƐƚĞĂŵ͘ dŚĞĚŵŝŶŝƐƚƌĂƚŝǀĞ^ĞƌǀŝĐĞƐŐƌŽƵƉŝŶĐůƵĚĞƐ&ŝŶĂŶĐĞ͕,ƵŵĂŶZĞƐŽƵƌĐĞƐ;ŝŶĐůƵĚŝŶŐtŽƌŬĞƌƐ͛ŽŵƉĞŶƐĂƚŝŽŶĂŶĚZŝƐŬ DĂŶĂŐĞŵĞŶƚͿ͕/ŶĨŽƌŵĂƚŝŽŶdĞĐŚŶŽůŽŐǇ͕ĂŶĚ/ŶŶŽǀĂƚŝŽŶΘ
ĐŽŶŽŵŝĐĞǀĞůŽƉŵĞŶƚ͘EŽŶͲĚĞƉĂƌƚŵĞŶƚĂůĂůƐŽŝŶĐůƵĚĞƐ
ĂŶǇƐƉĞĐŝĂůƉƌŽũĞĐƚƐĚŝƌĞĐƚĞĚďǇƚŚĞŝƚǇŽƵŶĐŝů͘

x WƵďůŝĐ^ĂĨĞƚǇ;ϮϵйͿ
WƵďůŝĐ^ĂĨĞƚǇƌĞŵĂŝŶƐĂƚŽƉŝƚǇŽƵŶĐŝůƉƌŝŽƌŝƚǇ͘dŚŝƐŵĂũŽƌƐ ĞƌǀŝĐĞĂƌĞĂŝŶĐůƵĚĞƐƚŚĞWŽůŝĐĞĞƉĂƌƚŵĞŶƚ͕ǁŚŽƐĞ ŵŝƐƐŝŽŶŝƐƚŽƉƌŽƚĞĐƚĂŶĚƐĞƌǀĞƚŚĞĐŽŵŵƵŶŝƚǇǁŝƚŚŝŶƚĞŐƌŝƚǇ͕ƉƌŽĨĞƐƐŝŽŶĂůŝƐŵĂŶĚǀĂůŽƌ͘dŚĞ&ŝƌĞĞƉĂƌƚŵĞŶƚŝƐƚŚĞ ŽƚŚĞƌĐŽŵƉŽŶĞŶƚŽĨƚŚŝƐŵĂũŽƌƐĞƌǀŝĐĞĂƌĞĂǁŝƚŚĂŵŝƐƐŝŽŶƚŽĞŶ ŚĂŶĐĞƚŚĞƋƵĂůŝƚǇŽĨůŝĨĞďǇĚĞůŝǀĞƌŝŶŐĞǆĐĞƉƚŝŽŶĂů ƐĞƌǀŝĐĞƐŝŶƐĂĨĞŐƵĂƌĚŝŶŐůŝǀĞƐ͕ƉƌŽƉĞƌƚǇ͕ĂŶĚƚŚĞĞŶǀŝƌŽŶŵĞŶƚ͘
10 April 4, 2023
Item #5 Page 43 of 195
( City of
Carlsbad
Functional Expenses for Fiscal Year 2021-22
$282.0 Million
■ General Government
■ Public Safety
■ Community Services
■ Public Works
■ Water
■ Golf Course
Wastewater
■ Solid Waste
5%
29%
21%
14%
19%
4%
6%
2%

x ŽŵŵƵŶŝƚǇ^ĞƌǀŝĐĞƐ;ϮϭйͿ
ŽŵŵƵŶŝƚǇ^ĞƌǀŝĐĞƐĐŽŶƐŝƐƚƐŽĨ>ŝďƌĂƌǇΘƵůƚƵƌĂůƌƚƐ͕WĂƌŬƐΘZĞĐƌĞĂƚŝŽŶ͕ŽŵŵƵŶŝƚǇĞǀĞůŽƉŵĞŶƚĂŶĚ,ŽƵƐŝŶŐ Θ,ŽŵĞůĞƐƐ^ĞƌǀŝĐĞƐ͘dŚĞƐĞĐŝƚǇƐĞƌǀŝĐĞĂƌĞĂƐĞŶƐƵƌĞƚŚĞĐŝƚǇ͛ƐƉůĂŶŶŝŶŐĂŶĚďƵŝůĚŝŶŐƉŽůŝĐŝĞƐĂƌĞĐĂƌƌŝĞĚŽƵƚ͕ĨŽƐƚĞƌ ůŝĨĞůŽŶŐůĞĂƌŶŝŶŐ͕ƐƵƉƉŽƌƚƐƚƌŽŶŐŶĞŝŐŚďŽƌŚŽŽĚƐ͕ĂĚŵŝŶŝƐƚĞƌĂĨĨ ŽƌĚĂďůĞŚŽƵƐŝŶŐĂŶĚŚŽŵĞůĞƐƐƌĞƐƉŽŶƐĞƉƌŽŐƌĂŵƐ͕ ĂƚƚĞŶĚƚŽƚŚĞĐŽŵŵƵŶŝƚǇ͛ƐŚĞĂůƚŚĂŶĚǁĞůůŶĞƐƐĂŶĚƉƌŽŵŽƚĞƚƌĂŶƐ ƉĂƌĞŶĐǇŝŶŐŽǀĞƌŶŵĞŶƚ͘>ŝďƌĂƌǇΘƵůƚƵƌĂůƌƚƐ ƉƌŽǀŝĚĞƐĞĚƵĐĂƚŝŽŶĂů͕ŝŶĨŽƌŵĂƚŝŽŶĂůĂŶĚĐƵůƚƵƌĂůĂƌƚƐƐĞƌǀŝĐĞƐĨŽƌĂůůĐŽŵŵƵŶŝƚǇƌĞƐŝĚĞŶƚƐ͕ǁŚŝĐŚĐŽŶƚƌŝďƵƚĞƚŽ ƋƵĂůŝƚǇŽĨůŝĨĞďǇƐƵƉƉŽƌƚŝŶŐůŝĨĞůŽŶŐůĞĂƌŶŝŶŐ͕ƚŚĞƉƵƌƐƵŝƚŽĨ ŬŶŽǁůĞĚŐĞ͕ĂŶĚĐƌĞĂƚŝŶŐƚŚĞĂǀĂŝůĂďŝůŝƚǇŽĨĐŽŵŵƵŶŝƚǇ ŐĂƚŚĞƌŝŶŐƉůĂĐĞƐ͘WĂƌŬƐΘZĞĐƌĞĂƚŝŽŶŽĨĨĞƌƐĐŽŵƉƌĞŚĞŶƐŝǀĞŽƉƉŽƌ ƚƵŶŝƚŝĞƐĨŽƌŵĞĞƚŝŶŐƚŚĞƌĞĐƌĞĂƚŝŽŶĂůĂŶĚƐŽĐŝĂů ŶĞĞĚƐĂŶĚŝŶƚĞƌĞƐƚƐŽĨƚŚĞĐŽŵŵƵŶŝƚǇďǇƉƌŽǀŝĚŝŶŐƉƌŽŐƌĂŵƐĨŽƌĂůůƐĞŐŵĞŶƚƐŽĨƚŚĞƉŽƉƵůĂƚŝŽŶ͘ŽŵŵƵŶŝƚǇ ĞǀĞůŽƉŵĞŶƚ͛Ɛ ƉƌŝŵĂƌǇ ƌŽůĞƐ ŝŶĐůƵĚĞ ƚŚĞ ĚĂǇͲƚŽͲĚĂǇ ĂĚŵŝŶŝƐƚƌĂƚŝŽŶ ŽĨ ƚŚĞ ůŽĐĂů͕ ƐƚĂƚĞ͕ ĂŶĚ ĨĞĚĞƌĂů ůĂŶĚ ƵƐĞ ƌĞŐƵůĂƚŝŽŶƐ͕ƉƌŽŵŽƚŝŶŐĞĐŽŶŽŵŝĐĂŶĚďƵƐŝŶĞƐƐĚĞǀĞůŽƉŵĞŶƚ͕ƉƌŽƚĞĐƚŝŶŐůŝĨĞĂŶĚƉƌŽƉĞƌƚǇ͕ĞŶŚĂŶĐŝŶŐƉƵďůŝĐŚĞĂůƚŚ͕ ĂŶĚ ƉƌĞƐĞƌǀŝŶŐ ƚŚĞ ĞŶǀŝƌŽŶŵĞŶƚ͘ ŽŵŵƵŶŝƚǇ ĞǀĞůŽƉŵĞŶƚ ĞŶĐŽŵƉĂƐƐĞƐ >ĂŶĚ hƐĞ WůĂŶŶŝŶŐ͕ ƵŝůĚŝŶŐ͕ ŽĚĞ

ŶĨŽƌĐĞŵĞŶƚ͕ĂŶĚ>ĂŶĚĞǀĞůŽƉŵĞŶƚ
ŶŐŝŶĞĞƌŝŶŐ͘

x WƵďůŝĐtŽƌŬƐ;ϭϰйͿ
WƵďůŝĐtŽƌŬƐŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌďƵŝůĚŝŶŐĂŶĚŵĂŝŶƚĂŝŶŝŶŐĂůůĐŝƚǇŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂƐƐĞƚƐ͘dŚŝƐƐĞƌǀŝĐĞĂƌĞĂŝŶĐůƵĚĞƐWƵďůŝĐ tŽƌŬƐĚŵŝŶŝƐƚƌĂƚŝŽŶ͕&ĂĐŝůŝƚŝĞƐΘ&ůĞĞƚ͕
ŶǀŝƌŽŶŵĞŶƚĂů^ƵƐƚĂŝŶĂďŝůŝƚǇ͕dƌĂŶƐƉŽƌƚĂƚŝŽŶ͕ŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚΘ /ŶƐƉĞĐƚŝŽŶĂŶĚhƚŝůŝƚŝĞƐ͘ŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚΘ/ŶƐƉĞĐƚŝŽŶŵĂŶĂŐĞƐĐŽŶƐƚƌƵĐƚŝŽŶŽĨŵĂũŽƌƉƌŽũĞĐƚƐ͕ŝŶƐƉĞĐƚŝŽŶ ĂŶĚŽǀĞƌƐŝŐŚƚŽĨƉƌŝǀĂƚĞĚĞǀĞůŽƉŵĞŶƚŐƌĂĚŝŶŐ͕ƐƚŽƌŵǁĂƚĞƌĂŶĚŝŵƉƌŽǀĞŵĞŶƚƐŝŶƐƉĞĐƚŝŽŶĂŶĚŽǀĞƌƐŝŐŚƚŽĨĂůůĂĐƚŝǀŝƚǇ ŝŶƚŚĞƉƵďůŝĐƌŝŐŚƚͲŽĨͲǁĂǇ͘
ŶǀŝƌŽŶŵĞŶƚĂů^ƵƐƚĂŝŶĂďŝůŝƚǇŽǀĞƌƐĞ ĞƐƚŚĞĐůŝŵĂƚĞĂĐƚŝŽŶƉůĂŶƉƌŽŐƌĂŵ͕ƚŚĞŚĂďŝƚĂƚ ŵĂŶĂŐĞŵĞŶƚƉůĂŶƉƌŽŐƌĂŵ͕ƚŚĞƐƵƐƚĂŝŶĂďůĞŵĂƚĞƌŝĂůƐŵĂŶĂŐĞŵĞŶƚƉƌŽŐƌĂŵ͕ƐŽůŝĚǁĂƐƚĞ͕ĂŶĚƉƌŽǀŝĚĞƐĐŽŽƌĚŝŶĂƚŝŽŶ ŽĨƚŚĞŵƵŶŝĐŝƉĂůĐŽŵƉŽŶĞŶƚŽĨƚŚĞEĂƚŝŽŶĂůWŽůůƵƚĂŶƚŝƐĐŚĂƌŐĞ ůŝŵŝŶĂƚŝŽŶ^ǇƐƚĞŵDƵŶŝĐŝƉĂů^ƚŽƌŵtĂƚĞƌWĞƌŵŝƚ͘
&ůĞĞƚΘ&ĂĐŝůŝƚŝĞƐƐƵƉƉŽƌƚƐƚŚĞŵĂŝŶƚĞŶĂŶĐĞŽĨĐŝƚǇǀĞŚŝĐůĞƐĂŶ ĚĨĂĐŝůŝƚŝĞƐ͘dŚĞdƌĂŶƐƉŽƌƚĂƚŝŽŶĞƉĂƌƚŵĞŶƚĐĂƌĞƐĨŽƌ ƌŽĂĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚƉƌŽũĞĐƚƐ͕ŬĞĞƉƐƉĞŽƉůĞĂŶĚƚƌĂĨĨŝĐŵŽǀŝ ŶŐ͕ŵĂŝŶƚĂŝŶƐƐƚƌĞĞƚƐĂŶĚƐƚŽƌŵĚƌĂŝŶƐ͕ŵĂŝŶƚĂŝŶƐ ƐƚƌĞĞƚůŝŐŚƚŝŶŐ͕ĂŶĚƉƌŽǀŝĚĞƐŝŶĐŝĚĞŶƚƌĞƐƉŽŶƐĞĨŽƌĐŝƚǇĂŶĚƉƌŝǀĂƚĞƉƌŽƉĞƌƚǇ͘
x tĂƚĞƌ;ϭϵйͿ
dŚĞĂƌůƐďĂĚDƵŶŝĐŝƉĂůtĂƚĞƌŝƐƚƌŝĐƚ;DtͿ͕ĂƐƵďƐŝĚŝĂƌǇŽĨƚŚĞĐŝƚǇ͕ƉƌŽǀŝĚĞƐƉŽƚĂďůĞĂŶĚƌĞĐǇĐůĞĚǁĂƚĞƌƐĞƌǀŝĐĞ ƚŽĂƉƉƌŽǆŝŵĂƚĞůǇϮϴ͕ϵϬϬĐƵƐƚŽŵĞƌƐǁŝƚŚŝŶĂϯϮ͘ϯƐƋƵĂƌĞŵŝůĞƐĞƌ ǀŝĐĞĂƌĞĂ͘DtƉƵƌĐŚĂƐĞƐϭϬϬйŽĨŝƚƐƉŽƚĂďůĞ ǁĂƚĞƌ͕ǁŚŝĐŚŝŶĐůƵĚĞƐĂůŽĐĂůƐƵƉƉůǇŽĨĚĞƐĂůŝŶĂƚĞĚƐĞĂǁĂƚĞƌ͕ĂƐƚƌĞĂƚĞĚǁĂƚĞƌĨƌŽŵƚŚĞDĞƚƌŽƉŽůŝƚĂŶtĂƚĞƌŝƐƚƌŝĐƚ ĂŶĚƚŚĞ^ĂŶŝĞŐŽŽƵŶƚǇtĂƚĞƌƵƚŚŽƌŝƚǇ͘DtĂůƐŽƉƌŽǀŝĚĞƐƌĞ ĐǇĐůĞĚǁĂƚĞƌĨŽƌŝƌƌŝŐĂƚŝŽŶƉƵƌƉŽƐĞƐǁŚŝĐŚŝƐ ƉƌŽĚƵĐĞĚĂƚƚŚĞĂƌůƐďĂĚtĂƚĞƌZĞĐǇĐůŝŶŐ&ĂĐŝůŝƚǇ͕ĂƐǁĞůůĂƐƉƵƌĐŚĂƐĞĚĨƌŽŵƚŚĞsĂůůĞĐŝƚŽƐtĂƚĞƌŝƐƚƌŝĐƚ͘
x 'ŽůĨŽƵƌƐĞ;ϰйͿ
dŚĞĐŝƚǇŽƉĞŶĞĚĂŵƵŶŝĐŝƉĂůŐŽůĨĐŽƵƌƐĞŝŶƚŚĞƐƵŵŵĞƌŽĨϮϬϬϳ͕ ĨƵƌƚŚĞƌĞŶŚĂŶĐŝŶŐƚŚĞƚŽƵƌŝƐƚĂƚƚƌĂĐƚŝŽŶƐƚŚĞĐŝƚǇ ŽĨĨĞƌƐ͘dŚĞŵƵŶŝĐŝƉĂůŐŽůĨĐŽƵƌƐĞ͕dŚĞƌŽƐƐŝŶŐƐĂƚĂƌůƐďĂĚ͕ŝ ƐĂŶϭϴͲŚŽůĞŐŽůĨĐŽƵƌƐĞƐĞƚŝŶƚŚĞƌŽůůŝŶŐŚŝůůƐĂŶĚ ĐĂŶǇŽŶƐŽĨĂƌůƐďĂĚ͘tŝƚŚŽĐĞĂŶǀŝĞǁƐ͕ĂŚŝŐŚͲƋƵĂůŝƚǇŐŽůĨĞǆƉĞ ƌŝĞŶĐĞ͕ĂĨŝƌƐƚͲĐůĂƐƐƌĞƐƚĂƵƌĂŶƚĂŶĚĐůƵďŚŽƵƐĞ͕ĂŶĚ ĐŽŶŶĞĐƚŝŽŶƐƚŽŚŝŬŝŶŐƚƌĂŝůƐ͕dŚĞƌŽƐƐŝŶŐƐĂƚĂƌůƐďĂĚŝƐĂĚĞƐƚŝŶĂƚŝŽŶĨŽƌŐŽůĨĞƌƐĂŶĚŶŽŶͲŐŽůĨĞƌƐĂůŝŬĞ͘
x tĂƐƚĞǁĂƚĞƌ;ϲйͿ
dŚĞĐŝƚǇŽƉĞƌĂƚĞƐĂŶĚŵĂŝŶƚĂŝŶ ƐĂƐĂŶŝƚĂƌǇǁĂƐƚĞǁĂƚĞƌĐŽůůĞĐƚŝŽ ŶƐǇƐƚĞŵƚŚĂƚƉƌŽǀŝĚĞƐǁĂƐƚĞǁĂƚĞƌƐĞƌǀŝĐĞƐƚŽ ĂƉƉƌŽǆŝŵĂƚĞůǇƚǁŽƚŚŝƌĚƐŽĨƚŚĞĐŝƚǇ͛ƐƉŽƉƵůĂƚŝŽŶ͕ĐŽǀĞƌŝŶŐĂƉƉ ƌŽǆŝŵĂƚĞůǇϳϰйŽĨƚŚĞŐĞŽŐƌĂƉŚŝĐĂƌĞĂŽĨƚŚĞĐŝƚǇ͘ tĂƐƚĞǁĂƚĞƌŝƐƚƌĞĂƚĞĚďǇƚŚĞ
ŶĐŝŶĂtĂƐƚĞǁĂƚĞƌdƌĞĂƚŵĞŶƚWůĂŶƚ͕ĂĨĂĐŝůŝƚǇũŽŝŶƚůǇŽǁŶĞĚďǇƚŚĞĐŝƚŝĞƐŽĨĂƌůƐďĂĚ͕ sŝƐƚĂĂŶĚ
ŶĐŝŶŝƚĂƐ͖ƚŚĞ>ĞƵĐĂĚŝĂtĂƐƚĞǁĂƚĞƌŝƐƚƌŝĐƚ͖ƚŚĞsĂůůĞĐŝƚŽƐtĂƚĞƌŝƐƚƌŝĐƚ͖ĂŶĚƚŚĞƵĞŶĂ^ĂŶŝƚĂƚŝŽŶŝƐƚƌŝĐƚ͘
x ^ŽůŝĚtĂƐƚĞ;ϮйͿ
dŚĞ^ŽůŝĚtĂƐƚĞŝǀŝƐŝŽŶĂĚŵŝŶŝƐƚĞƌƐĂŶĚŵŽŶŝƚŽƌƐƚŚĞƐŽůŝĚǁĂƐ ƚĞĐŽŶƚƌĂĐƚĂŶĚƚŚĞWĂůŽŵĂƌdƌĂŶƐĨĞƌ^ƚĂƚŝŽŶ ĂŐƌĞĞŵĞŶƚĂŶĚŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌĞŶƐƵƌŝŶŐƚŚĞǁĂƐƚĞƌĞĚƵĐƚŝŽŶĂ ŶĚƌĞĐǇĐůŝŶŐĐŽŵƉŽŶĞŶƚƐŽĨƚŚĞ^ŽƵƌĐĞZĞĚƵĐƚŝŽŶ ĂŶĚZĞĐǇĐůŝŶŐ
ůĞŵĞŶƚĂŶĚ,ŽƵƐĞŚŽůĚ,ĂǌĂƌĚŽƵƐtĂƐƚĞ
ůĞŵĞŶƚĐŽŵƉůǇǁŝƚŚƐƚĂƚĞŵĂŶĚĂƚĞĚĚŝǀĞƌƐŝŽŶĂŶĚĚŝƐƉŽƐĂů ƌĞƋƵŝƌĞŵĞŶƚƐ͘ůƐŽŝŶĐůƵĚĞĚŝŶƚŚŝƐƐĞĐƚŝŽŶŝƐƚŚĞ^ƚŽƌŵtĂƚĞƌ WƌŽƚĞĐƚŝŽŶWƌŽŐƌĂŵ͕ǁŚŽƐĞŐŽĂůŝƐƚŽƉƌŽǀŝĚĞ ůĞĂĚĞƌƐŚŝƉĂŶĚƐƚĞǁĂƌĚƐŚŝƉŽĨƚŚĞĐŝƚǇ͛ƐƌĞƐŽƵƌĐĞƐƉƌŽƚĞĐƚŝŶŐƚŚĞĐŝƚǇ͛ƐďĞĂĐŚĞƐ͕ĐƌĞĞŬƐĂŶĚůĂŐŽŽŶƐ͘
dŚĞĨŽůůŽǁŝŶŐƐĞĐƚŝŽŶƐƉƌŽǀŝĚĞŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞŽƉĞƌĂƚŝŽŶƐŽĨƚŚĞŐŽǀĞƌŶŵĞŶƚĂůĂŶĚďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐ͘ 11 April 4, 2023
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'ŽǀĞƌŶŵĞŶƚĂůĐƚŝǀŝƚŝĞƐ

dŚĞŝŶĐƌĞĂƐĞŝŶŶĞƚƉŽƐŝƚŝŽŶĨŽƌŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐǁĂƐΨϭ ϯ͘ϯŵŝůůŝŽŶ͘dŚŝƐŝŶĐƌĞĂƐĞǁĂƐƉƌŝŵĂƌŝůǇĚƌŝǀĞŶďǇĂ ƌĞĚƵĐƚŝŽŶŝŶŶĞƚƉĞŶƐŝŽŶůŝĂďŝůŝƚǇƚŚĂƚǁĂƐŽĨĨƐĞƚďǇĂŶŝŶĐƌĞĂ ƐĞŝŶĚĞĨĞƌƌĞĚŝŶĨůŽǁƐŽĨƌĞƐŽƵƌĐĞƐƌĞůĂƚĞĚƚŽƉĞŶƐŝŽŶ͘ /ŶĐƌĞĂƐĞĚƌĞǀĞŶƵĞƐĂůƐŽĐŽŶƚƌŝďƵƚĞĚƚŽƚŚĞƉŽƐŝƚŝǀĞĐŚĂŶŐĞŝŶŶĞƚƉŽƐŝƚŝŽŶ͖ŚŽǁĞǀĞƌ͕ƚŚŝƐǁĂƐƚĞŵƉĞƌĞĚďǇĂƐƵďƐƚĂŶƚŝĂů ŝŶĐƌĞĂƐĞŝŶŝŶǀĞƐƚŵĞŶƚůŽƐƐĞƐ͘dŽƚĂůƌĞǀĞŶƵĞƐĨƌŽŵŐŽǀĞƌŶŵĞŶƚĂůĂĐƚŝǀŝƚŝĞƐǁĞƌĞΨϮϬϴ͘ϳŵŝůůŝŽŶ;Ψϰϵ͘ϳŵŝůůŝŽŶŝŶƉƌŽŐƌĂŵ ƌĞǀĞŶƵĞƐĂŶĚΨϭϱϵ͘ϬŵŝůůŝŽŶŝŶŐĞŶĞƌĂůƌĞǀĞŶƵĞƐͿĂŶĚǁĞƌĞŽĨĨƐĞ ƚďǇΨϭϵϰ͘ϭŵŝůůŝŽŶŝŶƚŽƚĂůĐŽƐƚƐŽĨŐŽǀĞƌŶŵĞŶƚĂů ĂĐƚŝǀŝƚŝĞƐĂŶĚΨϭ͘ϯŵŝůůŝŽŶŝŶƚƌĂŶƐĨĞƌƐŽƵƚ͘

dŚĞƚĂďůĞŽŶƚŚĞĨŽůůŽǁŝŶŐƉĂŐĞƉƌĞƐĞŶƚƐƚŚĞƚŽƚĂůĐŽƐƚŽĨĞĂĐŚ ŽĨƚŚĞĐŝƚǇ͛ƐŵĂũŽƌƉƌŽŐƌĂŵƐ͕ĂƐǁĞůůĂƐĞĂĐŚƉƌŽŐƌĂŵ͛Ɛ ƌĞǀĞŶƵĞ ;ĨĞĞƐ ŐĞŶĞƌĂƚĞĚ ďǇ ƚŚĞ ĂĐƚŝǀŝƚŝĞƐ͕ ĐŽŶƚƌŝďƵƚŝŽŶƐ͕ ĂŶĚ ŝ ŶƚĞƌŐŽǀĞƌŶŵĞŶƚĂů ĨƵŶĚŝŶŐͿ͘ dŚĞ ŶĞƚ ĐŽƐƚ ;ƚŚĞĚŝĨĨĞƌĞŶĐĞďĞƚǁĞĞŶĂĚũŽŝŶŝŶŐďĂƌƐŝŶƚŚĞŐƌĂƉŚͿƐŚŽǁƐƚŚĞĨŝŶĂŶĐŝĂůďƵƌĚĞŶƚŚĂƚǁĂƐƉůĂĐĞĚŽŶƚŚĞĐŝƚǇ͛ƐƚĂǆƉĂǇĞƌƐ ďǇĞĂĐŚŽĨƚŚĞƐĞƉƌŽŐƌĂŵƐ;ĐŽƐƚƐĐŽǀĞƌĞĚďǇŐĞŶĞƌĂůƌĞǀĞŶƵĞƐͿ͘

ZĞǀĞŶƵĞƐĂƌĞŐĞŶĞƌĂƚĞĚƚŚƌŽƵŐŚƐĞǀĞƌĂůƐŽƵƌĐĞƐƚŽĐŽǀĞƌƚŚĞĐŽƐƚŽĨƚŚĞĐŝƚǇ͛ƐƉƌŽŐƌĂŵƐ͘dŽƚĂůƌĞǀĞŶƵĞƐŽĨΨϮϬϴ͘ϳŵŝůůŝŽŶ ŝŶĐůƵĚĞĨĞĞƐĂŶĚĐŚĂƌŐĞƐƉĂŝĚďǇƚŚŽƐĞǁŚŽĚŝƌĞĐƚůǇďĞŶĞĨŝƚĨƌŽŵƚŚĞƉƌŽŐƌĂŵƐ;Ψϭϵ͘ϰŵŝůůŝŽŶͿ͕ŐƌĂŶƚƐĂŶĚĐŽŶƚƌŝďƵƚŝŽŶƐ ĨƌŽŵŽƚŚĞƌŐŽǀĞƌŶŵĞŶƚƐĂŶĚŽƌŐĂŶŝǌĂƚŝŽŶƐǁŚŝĐŚƐƵďƐŝĚŝǌĞĐĞƌƚĂŝ ŶƉƌŽŐƌĂŵƐ;ΨϯϬ͘ϯŵŝůůŝŽŶͿ͕ĂŶĚƚĂǆĞƐĂŶĚŽƚŚĞƌ ƌĞǀĞŶƵĞƐ;ƐƵĐŚĂƐŝŶĐŽŵĞĨƌŽŵƉƌŽƉĞƌƚǇĂŶĚŝŶǀĞƐƚŵĞŶƚƐͿƌĞĐĞŝǀĞ ĚďǇƚŚĞĐŝƚǇƚŽƉĂǇĨŽƌƚŚĞ͞ƉƵďůŝĐďĞŶĞĨŝƚ͟ƉŽƌƚŝŽŶ ;Ψϭϱϵ͘ϬŵŝůůŝŽŶͿ͘

ŽŵŵƵŶŝƚǇ^ĞƌǀŝĐĞƐƌĞǀĞŶƵĞƐĂƌĞĚĞƌŝǀĞĚĨƌŽŵĚĞǀĞůŽƉŵĞŶƚĂĐƚŝǀŝƚŝĞƐƚŚƌŽƵŐŚŽƵƚƚŚĞĐŝƚǇ͕ŚŽƵƐŝŶŐĂƐƐŝƐƚĂŶĐĞƉƌŽŐƌĂŵƐ͕ ƉĂƌŬƐĂŶĚƌĞĐƌĞĂƚŝŽŶĨĞĞƐ͕ĂŶĚůŝďƌĂƌǇĨĞĞƐ͘ůĂƌŐĞƉŽƌƚŝŽŶŽĨ ŽŵŵƵŶŝƚǇ^ĞƌǀŝĐĞƐƌĞǀĞŶƵĞƐĂƌĞĐŽŵƉƌŝƐĞĚŽĨŚŽƵƐŝŶŐ ĂƐƐŝƐƚĂŶĐĞƉƌŽŐƌĂŵƐ;^ĞĐƚŝŽŶϴZĞŶƚĂůƐƐŝƐƚĂŶĐĞ͕ĂĨĨŽƌĚĂďůĞŚŽ ƵƐŝŶŐůŽĂŶƌĞƉĂǇŵĞŶƚƐ͕ĂŶĚĚĞǀĞůŽƉĞƌƐƉĂǇŝŶŐŝŶƚŽƚŚĞ ĨĨŽƌĚĂďůĞ,ŽƵƐŝŶŐdƌƵƐƚ&ƵŶĚͿĂƐǁĞůůĂƐĐŚĂƌŐĞƐĨŽƌĚĞǀĞůŽƉŵĞŶƚƌĞůĂƚĞĚƐĞƌǀŝĐĞƐ͘ƐĞǆƉĞĐƚĞĚ͕ĚĞǀĞůŽƉŵĞŶƚĂĐƚŝǀŝƚǇ ƌĞĨůĞĐƚĞĚĂŵŽĚĞƌĂƚĞĚĞĐƌĞĂƐĞĨƌŽŵƚŚĞƉƌŝŽƌĨŝƐĐĂůǇĞĂƌ͕ŽĨĨƐĞƚƚŝŶŐŽŶůǇĂƉŽƌƚŝŽŶŽĨƚŚĞƉƌŽŐƌĂŵĞǆƉĞŶƐĞƐ͘ 12 April 4, 2023
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$90
$80
$70
$60
$50
$40
$30
$20
$10
so
$8.2
-
$14.8
Governmental Activities
Program Revenues and Expenses
Fiscal Year 2021-22
(in m1ll1ons)
$81.1
$59.0
$6.6
1111
Genera l Government Public Safety Community Services
$39.2
Public Works
■ Program Revenues $49.7 ■ Program Expenses $194.1

dŚĞŵĂũŽƌŝƚǇŽĨWƵďůŝĐtŽƌŬƐƌĞǀĞŶƵĞƐĂƌĞƵƐĞĚƚŽĂĐƋƵŝƌĞĂŶĚďƵŝůĚĐĂƉŝƚĂůĂƐƐĞƚƐ;ǀĞƌƐƵƐĐŽǀĞƌŝŶŐŽƉĞƌĂƚŝŶŐĞǆƉĞŶƐĞƐͿ͘ /ŶĂĚĚŝƚŝŽŶ͕ƚŚĞĚŽŶĂƚŝŽŶŽĨĐĂƉŝƚĂůĂƐƐĞƚƐĨƌŽŵĚĞǀĞůŽƉĞƌƐŝƐƌĞĨůĞĐƚĞĚŝŶƚŚĞƉƌŽŐƌĂŵƌĞǀĞŶƵĞƐĨŽƌWƵďůŝĐtŽƌŬƐ͘ĂƉŝƚĂů ĂƐƐĞƚƐĂƌĞŐĞŶĞƌĂůůǇĐŽŶƐƚƌƵĐƚĞĚŽƌƉƵƌĐŚĂƐĞĚŽŶĐĞƐƵĨĨŝĐŝĞŶƚĨ ƵŶĚƐŚĂǀĞĂĐĐƵŵƵůĂƚĞĚƚŽƉĂǇĨŽƌƚŚĞĞŶƚŝƌĞĂƐƐĞƚĐŽƐƚ͘ ^ĞǀĞƌĂůǇĞĂƌƐĂŐŽ͕ƚŚĞĐŝƚǇĞŶƚĞƌĞĚĂŶĞǁƐƚĂŐĞŽĨŝƚƐůŝĨĞĐǇĐů Ğ͕ĨƌŽŵĂĚĞǀĞůŽƉŝŶŐŽƌŐƌŽǁŝŶŐƐƚĂŐĞ͕ƚŽĂŵĂƚƵƌĞĂŶĚ ŵĂŝŶƚĞŶĂŶĐĞĨŽĐƵƐĞĚƐƚĂŐĞ͘ƐƚŚĞĐŝƚǇĐŽŶƚŝŶƵĞƐƚŽŵĂƚƵƌĞĂŶĚĂƉƉƌŽĂĐŚďƵŝůĚŽƵƚ͕ƚŚĞƌĞǁŝůůďĞĨĞǁĞƌŵĂƐƚĞƌƉůĂŶŶĞĚ ƉƌŽũĞĐƚƐ͘/ŶƉĂƐƚǇĞĂƌƐ͕ƚŚĞƐĞƉƌŽũĞĐƚƐĐŽŶƐƚƌƵĐƚĞĚŶĞǁĨĂĐŝůŝƚŝĞƐ͕ƌŽĂĚƐ͕ƉĂƌŬƐ͕ĂŶĚŽƚŚĞƌĐŝƚǇͲŽǁŶĞĚŝŶĨƌĂƐƚƌƵĐƚƵƌĞ͘dŚĞ ĐŝƚǇŝƐƐŚŝĨƚŝŶŐŝƚƐĨŽĐƵƐƚŽǁĂƌĚƐŵĂŝŶƚĞŶĂŶĐĞŽĨĞǆŝƐƚŝŶŐĨĂĐŝůŝƚŝĞƐĂŶĚǁŝůůƵƐĞĨƵŶĚŝŶŐƐŽƵƌĐĞƐƐƵĐŚĂƐƚŚĞ/ŶĨƌĂƐƚƌƵĐƚƵƌĞ ZĞƉůĂĐĞŵĞŶƚ&ƵŶĚƚŽŵĂŝŶƚĂŝŶĂŶĚƌĞƉůĂĐĞƚŚĞƐĞĂƐƐĞƚƐ͘
ƵƐŝŶĞƐƐͲƚǇƉĞĐƚŝǀŝƚŝĞƐ

WƌŽŐƌĂŵƌĞǀĞŶƵĞƐĨŽƌƚŚĞĐŝƚǇ͛ƐďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐƚŽƚĂůĞ ĚΨϴϬ͘ϲŵŝůůŝŽŶĨŽƌƚŚĞǇĞĂƌ͕ǁŚŝůĞƉƌŽŐƌĂŵĞǆƉĞŶƐĞƐ ĞƋƵĂůĞĚΨϴϳ͘ϵŵŝůůŝŽŶ͘

tĂƚĞƌƉƌŽŐƌĂŵƌĞǀĞŶƵĞƐĂƌĞŐĞŶĞƌĂƚĞĚƉƌŝŵĂƌŝůǇĨƌŽŵƚŚĞƐĂůĞŽĨ ǁĂƚĞƌ͕ďƵƚĂůƐŽĨƌŽŵĚĞǀĞůŽƉĞƌĚŽŶĂƚĞĚĂƐƐĞƚƐĂŶĚ ŐƌĂŶƚƐ͘WƌŽŐƌĂŵƌĞǀĞŶƵĞƐǁĞƌĞƐůŝŐŚƚůǇŚŝŐŚĞƌƚŚĂŶƉƌŽŐƌĂŵĞǆƉĞ ŶƐĞƐĚƌŝǀĞŶďǇŝŶĐƌĞĂƐĞƐŝŶǁĂƚĞƌƌĂƚĞŝŶDĂƌĐŚϮϬϮϮ ƚŚĂƚǁĞƌĞŽĨĨƐĞƚďǇĂϭ͘ϲйĚĞĐƌĞĂƐĞŝŶǁĂƚĞƌǀŽůƵŵĞƐĂůĞƐ͘/ŶƚĞƌĞƐƚĞĂƌŶŝŶŐƐŝŶĐƌĞĂƐĞĚĚƵĞƚŽĂϮϮ͘ϲйŝŶĐƌĞĂƐĞŝŶƚŚĞ ǇŝĞůĚŽĨƚŚĞŝŶǀĞƐƚŵĞŶƚƉŽƌƚĨŽůŝŽĐŽŵďŝŶĞĚǁŝƚŚĂϭϰ͘ϯйŝŶĐƌĞĂƐ ĞŝŶƚŚĞŵŽŶƚŚůǇĂǀĞƌĂŐĞĐĂƐŚďĂůĂŶĐĞ͘ ǆƉĞŶƐĞƐǁĞƌĞ
ĚƌŝǀĞŶďǇŝŶĐƌĞĂƐĞƐĨŽƌƚŚĞĐŽƐƚŽĨƉƵƌĐŚĂƐĞĚǁĂƚĞƌ;ϳ͘ϳйͿ͘
tĂƐƚĞǁĂƚĞƌƉƌŽŐƌĂŵƌĞǀĞŶƵĞƐĨŝŶŝƐŚĞĚůŽǁĞƌĂƚΨϭϲ͘ϲŵŝůůŝŽŶƚŚĂŶƉƌŽŐƌĂŵĞǆƉĞŶƐĞƐŽĨΨϭϳ͘ϵŵŝůůŝŽŶĚƵĞƚŽŝŶĐƌĞĂƐĞĚ ƐƚĂĨĨŝŶŐƐĂůĂƌǇĂŶĚďĞŶĞĨŝƚĐŽƐƚƐ͕ŚŝŐŚĞƌŝŶƚĞƌĚĞƉĂƌƚŵĞŶƚĂůĞǆƉĞŶƐĞƐ͕ĂŶĚĂĚĚŝƚŝŽŶĂůĐĂƉŝƚĂůŽƵƚůĂǇĨŽƌƚŚĞƉƌŽĐƵƌĞŵĞŶƚ ŽĨĂƵƚŝůŝƚǇƚƌƵĐŬ͘dŚĞƐĞĞǆƉĞŶƐĞƐǁĞƌĞůĂƌŐĞůǇŽĨĨƐĞƚďǇƉƌŽŐƌĂŵƌĞǀĞŶƵĞƐĚƌŝǀĞŶďǇĂϮϬйƌĂƚĞŝŶĐƌĞĂƐĞƚŚĂƚǁĞŶƚŝŶƚŽ ĞĨĨĞĐƚDĂƌĐŚϮϬϮϮ͘

13 April 4, 2023
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( City of
Carlsbad
$60
$50
$40
$30
$20
$10
so
$53.6
Water
Business-Type Activities
Program Revenues and Expenses
Fiscal Year 2021-22
(in millions)
$16.6 $17.9
$10.4 $11.7
Wastewater Golf Course
$3.7 $4.7
_ ...

Solid Waste
■ Program Revenues $80.6 ■ Program Expenses $87.9

dŚĞĐŝƚǇ͛ƐŐŽůĨĐŽƵƌƐĞĞŶƚĞƌƉƌŝƐĞǁĂƐŝŶŝƚƐϭϱƚŚĨƵůůǇĞĂƌŽĨ ŽƉĞƌĂƚŝŽŶĂŶĚĨŝŶŝƐŚĞĚƚŚĞĨŝƐĐĂůǇĞĂƌǁŝƚŚĂŶĞƚůŽƐƐŽĨ Ψϭ͘ϯŵŝůůŝŽŶ͘dŚĞĚĞŵĂŶĚĨŽƌŐŽůĨ͕ĂŶŽƵƚĚŽŽƌĂĐƚŝǀŝƚǇůĂƌŐĞůǇĞǆĐůƵĚĞĚĨƌŽŵKs/ͲϭϵƌĞůĂƚĞĚƌĞƐƚƌŝĐƚŝŽŶƐ͕ĞǆƉĞƌŝĞŶĐĞĚ ŚŝƐƚŽƌŝĐĂů ŚŝŐŚƐ ĂĐƌŽƐƐ ƚŚĞ ŶĂƚŝŽŶ͕ ŝŶ ƚŚĞ ƌĞŐŝŽŶ ĂŶĚ Ăƚ ƚŚĞ ĐŝƚǇ͛Ɛ ŵƵŶŝĐŝƉĂů ĐŽƵƌƐĞ͘ dŚĞ ĐŽƵƌƐĞ ǁŝƚŶĞƐƐĞĚ ŽǀĞƌ ϳϵ͕ϬϬϬƌŽƵŶĚƐƉůĂǇĞĚǁŚŝĐŚƐŝŐŶŝĨŝĐĂŶƚůǇĐŽŶƚƌŝďƵƚĞĚƚŽƚŚĞŐŽůĨĐŽƵƌƐĞƌĞǀĞŶƵĞƐƐƵĨĨŝĐŝĞŶƚůǇĨƵŶĚŝŶŐŶŽƌŵĂůŐŽůĨĐŽƵƌƐĞ ŽƉĞƌĂƚŝŶŐĞǆƉĞŶƐĞƐ;ŝ͘Ğ͕͘ĞǆĐůƵĚŝŶŐĚĞƉƌĞĐŝĂƚŝŽŶĞǆƉĞŶƐĞͿ͘
^ŽůŝĚǁĂƐƚĞƌĞǀĞŶƵĞƐĂƌĞƉƌŝŵĂƌŝůǇŐĞŶĞƌĂƚĞĚĨƌŽŵĨĞĞƐĐŚĂƌŐĞĚ ƚŽǁĂƐƚĞƌĞŵŽǀĂůƐĞƌǀŝĐĞƐĐƵƐƚŽŵĞƌƐƚŽƐƵƉƉŽƌƚƚŚĞ ĐŝƚǇ͛ƐŝŶƚĞŐƌĂƚĞĚǁĂƐƚĞŵĂŶĂŐĞŵĞŶƚƉůĂŶǁŚŝĐŚŝŶĐůƵĚĞƌĞĐǇĐůŝŶŐĞĨĨŽƌƚƐĂŶĚƉƌŽƉĞƌǁĂƐƚĞĚŝƐƉŽƐĂůƉƌŽŐƌĂŵƐ͘ ǆƉĞŶƐĞƐ
ǁĞƌĞƉůĂŶŶĞĚƚŽƐƵƌƉĂƐƐƌĞǀĞŶƵĞƐĂƐŵĂŶǇǁĂƐƚĞŵĂŶĂŐĞŵĞŶƚƉƌŽŐƌĂŵƐŚĂǀĞŝŶĐƌĞĂƐĞĚŝŶůĞǀĞůŽĨĞĨĨŽƌƚĂŶĚĐŽƐƚ͕ƐƵĐŚ ĂƐƐŽůŝĚǁĂƐƚĞ͕ƌĞĐǇĐůŝŶŐ͕ĂŶĚŽƌŐĂŶŝĐƐŵĂŶĂŐĞŵĞŶƚƐĞƌǀŝĐĞƐ͕ŚŽ ƵƐĞŚŽůĚŚĂǌĂƌĚŽƵƐǁĂƐƚĞĐŽůůĞĐƚŝŽŶĂŶĚĚŝƐƉŽƐĂů͕ĂŶĚ ĞŶǀŝƌŽŶŵĞŶƚĂůŽƵƚƌĞĂĐŚĂŶĚĞĚƵĐĂƚŝŽŶ͘ĞƐƉŝƚĞƚŚĞĐƵƌƌĞŶƚǇĞĂƌůŽƐƐŽĨΨϭŵŝůůŝŽŶ͕ƚŚĞĨƵŶĚŚĂƐƐƵĨĨŝĐŝĞŶƚƌĞƐĞƌǀĞƐ͘
ĂƉŝƚĂůĐŽŶƐƚƌƵĐƚŝŽŶĞǆƉĞŶƐĞƐĂƌĞƐƉƌĞĂĚŽǀĞƌƚŚĞůŝĨĞŽĨĂŶĂƐ ƐĞƚĂƐĂŶŶƵĂůĚĞƉƌĞĐŝĂƚŝŽŶĐŚĂƌŐĞƐ;ƉƌŽŐƌĂŵĞǆƉĞŶƐĞƐͿ ĂŶĚĂƌĞŶŽƚƌĞĨůĞĐƚĞĚĂƐĂŶĞǆƉĞŶƐĞŝŶƚŚĞǇĞĂƌĂĐƋƵŝƌĞĚ͘
ŵŽƌĞĚĞƚĂŝůĞĚĚŝƐĐƵƐƐŝŽŶŽĨĞĂĐŚŽĨƚŚĞĞŶƚĞƌƉƌŝƐĞƐĐĂŶďĞĨŽƵŶĚŝŶƚŚĞWƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ^ĞĐƚŝŽŶ͘
&ŝŶĂŶĐŝĂůŶĂůǇƐŝƐŽĨƚŚĞŝƚǇ͛Ɛ&ƵŶĚƐ

ƐŶŽƚĞĚĞĂƌůŝĞƌ͕ƚŚĞĐŝƚǇƵƐĞƐĨƵŶĚĂĐĐŽƵŶƚŝŶŐƚŽĞŶƐƵƌĞĐŽŵƉůŝĂŶĐĞǁŝƚŚĨŝŶĂŶĐĞƌĞůĂƚĞĚůĞŐĂůƌĞƋƵŝƌĞŵĞŶƚƐ͘/ŶƚŚĞ ĐƵƌƌĞŶƚŶŶƵĂůŽŵƉƌĞŚĞŶƐŝǀĞ&ŝŶĂŶĐŝĂůZĞƉŽƌƚ͕ƚŚĞĐŝƚǇŝŵƉůĞŵĞŶƚĞĚ'^^ƚĂƚĞŵĞŶƚEŽ͘ϴϰ͕&ŝĚƵĐŝĂƌǇĐƚŝǀŝƚŝĞƐ͕ĂŶĚ '^^ƚĂƚĞŵĞŶƚEŽ͘ϵϴ͕dŚĞŶŶƵĂůŽŵƉƌĞŚĞŶƐŝǀĞ&ŝŶĂŶĐŝĂůZĞƉŽƌƚ͘
'ŽǀĞƌŶŵĞŶƚĂů&ƵŶĚƐ

dŚĞĨŽĐƵƐŽĨƚŚĞĐŝƚǇ͛ƐŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐŝƐƚŽƉƌŽǀŝĚĞŝŶĨŽƌŵĂƚŝŽŶŽŶŶĞĂƌͲƚĞƌŵŝŶĨůŽǁƐ͕ŽƵƚĨůŽǁƐ͕ĂŶĚďĂůĂŶĐĞƐŽĨ ƐƉĞŶĚĂďůĞƌĞƐŽƵƌĐĞƐ͘dŚŝƐŝŶĨŽƌŵĂƚŝŽŶŝƐƵƐĞĨƵůŝŶĂƐƐĞƐƐŝŶŐƚŚ ĞĐŝƚǇ͛ƐĨŝŶĂŶĐŝŶŐƌĞƋƵŝƌĞŵĞŶƚƐ͘/ŶƉĂƌƚŝĐƵůĂƌ͕ƵŶĂƐƐŝŐŶĞĚ ĨƵŶĚďĂůĂŶĐĞƐŵĂǇƐĞƌǀĞĂƐĂƵƐĞĨƵůŵĞĂƐƵƌĞŽĨĂŐŽǀĞƌŶŵĞŶƚ͛ƐŶ ĞƚƌĞƐŽƵƌĐĞƐĂǀĂŝůĂďůĞĨŽƌƐƉĞŶĚŝŶŐĂƚƚŚĞĞŶĚŽĨƚŚĞ ĨŝƐĐĂůǇĞĂƌ͘

dŚĞƌĞĂƌĞĨŝǀĞĨƵŶĚďĂůĂŶĐĞĐůĂƐƐŝĨŝĐĂƚŝŽŶƐ͗ŶŽŶƐƉĞŶĚĂďůĞ͕ƌĞƐƚƌŝĐƚĞĚ͕ĐŽŵŵŝƚƚĞĚ͕ĂƐƐŝŐŶĞĚ͕ĂŶĚƵŶĂƐƐŝŐŶĞĚ͘dŚĞƐĞĨƵŶĚ ďĂůĂŶĐĞĐůĂƐƐŝĨŝĐĂƚŝŽŶƐĐŽŵƉƌŝƐĞĂŚŝĞƌĂƌĐŚǇďĂƐĞĚƉƌŝŵĂƌŝůǇŽŶ ƚŚĞĞǆƚĞŶƚƚŽǁŚŝĐŚĂŐŽǀĞƌŶŵĞŶƚŝƐďŽƵŶĚƚŽŽďƐĞƌǀĞ ĐŽŶƐƚƌĂŝŶƚƐŝŵƉŽƐĞĚƵƉŽŶƚŚĞƵƐĞŽĨƚŚĞƌĞƐŽƵƌĐĞƐƌĞƉŽƌƚĞĚŝŶŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ͘ƚƚŚĞĞŶĚŽĨƚŚĞĐƵƌƌĞŶƚĨŝƐĐĂůǇĞĂƌ͕ ƚŚĞĐŝƚǇ͛ƐŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐƌĞƉŽƌƚĞĚĐŽŵďŝŶĞĚĞŶĚŝŶŐĨƵŶĚďĂůĂŶĐĞƐŽĨΨϱϳϱ͘ϬŵŝůůŝŽŶ͕ĚŽǁŶΨϭϵ͘ϵŵŝůůŝŽŶĨƌŽŵƚŚĞ ǇĞĂƌďĞĨŽƌĞ͘ƉƉƌŽǆŝŵĂƚĞůǇϬ͘ϰй;ΨϮ͘ϰŵŝůůŝŽŶͿĐŽŶƐƚŝƚƵƚĞƐŶŽŶƐƉĞŶĚĂďůĞĨƵŶĚďĂůĂŶĐĞƐ͕ŵŽƐƚůǇĐŽŵƉƌŝƐĞĚŽĨĂĚǀĂŶĐĞƐ ĂŶĚůŽĂŶƐƚŽŽƚŚĞƌĨƵŶĚƐ͘ZĞƐƚƌŝĐƚĞĚĨƵŶĚďĂůĂŶĐĞƐĐĂŶŽŶůǇďĞ ƐƉĞŶƚĨŽƌĂƐƉĞĐŝĨŝĐƉƵƌƉŽƐĞƐƚŝƉƵůĂƚĞĚďǇůĂǁĂŶĚŵĂŬĞ 14 April 4, 2023
Item #5 Page 47 of 195
( City of
Carlsbad
Governmental Fund Balances for Fiscal Year 2021-22
$575.0 Million
■ Nonspendable
■ Restricted Purposes
■ Committed
■ Assigned
Unassigned

0.4%

43.3%

0.2%

37.1%

19.0%

ƵƉĂďŽƵƚϰϯй;ΨϮϰϵ͘ϯŵŝůůŝŽŶͿ͘ƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞƐĂƌĞŝŶƚĞŶĚĞĚƚŽďĞƵƐĞĚďǇƚŚĞĐŝƚǇĨŽƌƐƉĞĐŝĨŝĐƉƵƌƉŽƐĞƐ͕ďƵƚĚŽ ŶŽƚŵĞĞƚƚŚĞĐƌŝƚĞƌŝĂƚŽďĞĐůĂƐƐŝĨŝĞĚĂƐƌĞƐƚƌŝĐƚĞĚŽƌĐŽŵŵŝƚƚ ĞĚ͘dŚĞƐĞŵĂŬĞƵƉŽǀĞƌϯϳй;ΨϮϭϯ͘ϯŵŝůůŝŽŶͿŽĨƚŚĞĐŝƚǇ͛Ɛ ĨƵŶĚďĂůĂŶĐĞ͘hŶĂƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞŝƐϭϵй;ΨϭϬϵ͘ϬŵŝůůŝŽŶͿŽĨƚŚĞŽǀĞƌĂůůĨƵŶĚďĂůĂŶĐĞ͕ǁŚŝĐŚŝƐĂǀĂŝůĂďůĞĨŽƌƐƉĞŶĚŝŶŐ ĂƚƚŚĞŝƚǇŽƵŶĐŝů͛ƐĚŝƐĐƌĞƚŝŽŶ͘

dŚĞ'ĞŶĞƌĂů&ƵŶĚŝƐƚŚĞŵĂŝŶŽƉĞƌĂƚŝŶŐĨƵŶĚŽĨƚŚĞĐŝƚǇ͕ĂŶĚĂƚ ƚŚĞĞŶĚŽĨƚŚĞĨŝƐĐĂůǇĞĂƌŚĂĚĂƚŽƚĂůĨƵŶĚďĂůĂŶĐĞŽĨ ΨϭϲϮ͘ϭŵŝůůŝŽŶ͕ĂŶŝŶĐƌĞĂƐĞŽĨΨϮ͘ϯŵŝůůŝŽŶĨƌŽŵƚŚĞƉƌŝŽƌĨŝƐĐ ĂůǇĞĂƌ͘dŚŝƐƌĞƐƵůƚĞĚĨƌŽŵĂŶĂĐĐĞůĞƌĂƚĞĚƌĞĐŽǀĞƌǇĨƌŽŵ Ks/ͲϭϵĂƐƉƌŽƉĞƌƚǇ͕ƐĂůĞƐ͕ĂŶĚƚƌĂŶƐŝĞŶƚŽĐĐƵƉĂŶĐǇƚĂǆƌĞǀĞŶƵĞƐƌĞĂĐŚĞĚŚŝƐƚŽƌŝĐĂůůĞǀĞůƐ͖ŚŽǁĞǀĞƌ͕ƚŚŝƐŝŶĐƌĞĂƐĞǁĂƐ ƐŝŐŶŝĨŝĐĂŶƚůǇŶĞƵƚƌĂůŝǌĞĚďǇƵŶƌĞĂůŝǌĞĚŝŶǀĞƐƚŵĞŶƚůŽƐƐĞƐŽŶƚŚĞĐŝƚǇ͛ƐƉŽƌƚĨŽůŝŽ͘
dŚĞƵŶĂƐƐŝŐŶĞĚĨƵŶĚďĂůĂŶĐĞƉŽƌƚŝŽŶŽĨƚŚĞ'ĞŶĞƌĂů&ƵŶĚǁĂƐΨϭϬϵ͘ϵŵŝůůŝŽŶ͕ĂŶŝŶĐƌĞĂƐĞŽĨΨϭϬ͘ϳŵŝůůŝŽŶĨƌŽŵůĂƐƚĨŝƐĐĂů ǇĞĂƌ͘ dŚŝƐ ŝŶĐƌĞĂƐĞ ƌĞƐƵůƚĞĚ ĨƌŽŵ ;ďĞĨŽƌĞ ƚƌĂŶƐĨĞƌƐ ŽƵƚͿ ƌĞǀĞŶƵĞƐ ŝŶ ĞǆĐĞƐƐ ŽĨ ĞǆƉĞŶĚŝƚƵƌĞƐ ŽĨ ĂƉƉƌŽǆŝŵĂƚĞůǇ ΨϮϵ͘ϮŵŝůůŝŽŶ͘/Ŷ^ĞƉƚĞŵďĞƌϮϬϮϭ͕ŝƚǇŽƵŶĐŝůĂƉƉƌŽǀĞĚĂĚĚŝƚŝŽŶĂůƚƌĂŶƐĨĞƌƐƚŽĨƵŶĚĐĂƉŝƚĂůƉƌŽũĞĐƚƐƚŚĂƚǁĞƌĞƉƌĞǀŝŽƵƐůǇ ŚĂůƚĞĚŝŶƌĞƐƉŽŶƐĞƚŽKs/Ͳϭϵ͛ƐĂĚǀĞƌƐĞĨŝƐĐĂůŝŵƉĂĐƚƐ͘/ŶƚŽƚĂů͕ΨϮϰ͘ϮŵŝůůŝŽŶǁĞƌĞƚƌĂŶƐĨĞƌƌĞĚŽƵƚŽĨƚŚĞ'ĞŶĞƌĂů&ƵŶĚ ƚŽĨƵŶĚĐƵƌƌĞŶƚĂŶĚĨƵƚƵƌĞĐĂƉŝƚĂůƉƌŽũĞĐƚƐĂƚƚŚĞĐŝƚǇ͘
dŚĞĐŝƚǇ͛Ɛ'ĞŶĞƌĂů&ƵŶĚZĞƐĞƌǀĞWŽůŝĐǇ͕ŽƵƚůŝŶĞĚŝŶŝƚǇŽƵŶĐŝ ůWŽůŝĐǇEŽ͘ϳϰ͕ĐŽŵŵŝƚƐƚŚĞĐŝƚǇƚŽŵĂŝŶƚĂŝŶŝŶŐ'ĞŶĞƌĂů &ƵŶĚƌĞƐĞƌǀĞƐĂƚĂƚĂƌŐĞƚŽĨϰϬйŽĨ'ĞŶĞƌĂů&ƵŶĚĂŶŶƵĂůŽƉĞƌĂƚŝŶŐĞǆƉĞŶĚŝƚƵƌĞƐ͘dŚĞƚŽƚĂůƌĞƐĞƌǀĞůĞǀĞůŝƐƚŽďĞĐĂůĐƵůĂƚĞĚ ƵƐŝŶŐƚŚĞƉƌŝŽƌĨŝƐĐĂůǇĞĂƌ͛ƐĂĚŽƉƚĞĚ'ĞŶĞƌĂů&ƵŶĚďƵĚŐĞƚĞĚĞǆƉĞŶĚŝƚƵƌĞƐĂŶĚŝƐŽƵƚůŝŶĞĚďĞůŽǁ͗

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15 April 4, 2023
Item #5 Page 48 of 195
( City of
Carlsbad

dŚĞŽŵŵƵŶŝƚǇ&ĂĐŝůŝƚŝĞƐŝƐƚƌŝĐƚEŽ͘ϭ&ƵŶĚĐŽŶƚŝŶƵĞƐƚŽĐŽůůĞ ĐƚĂƐƐĞƐƐŵĞŶƚƐĨŽƌƚŚĞĨƵƚƵƌĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨĐŝƚǇ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚĨĂĐŝůŝƚŝĞƐ͘

dŚĞ'ĞŶĞƌĂůĂƉŝƚĂůŽŶƐƚƌƵĐƚŝŽŶ&ƵŶĚƵƐĞĚĂƉŽƌƚŝŽŶŽĨŝƚƐĞǆŝƐƚŝŶŐĨƵŶĚďĂůĂŶĐĞƚŽǁĂƌĚƐŝŵƉƌŽǀĞŵĞŶƚƐĂƚŝƚǇ,Ăůů͕&ŝƌĞ ^ƚĂƚŝŽŶEŽ͘Ϯ͕ƚŚĞĂůĂǀĞƌĂWĂƌŬ'ĂƚĞǁĂǇ͕ĂŶĚǀĂƌŝŽƵƐŽƚŚĞƌƉƌŽũĞĐƚƐ͘dŚĞĞǆƉĞŶĚŝƚƵƌĞƐǁĞƌĞƉĂƌƚŝĂůůǇŽĨĨƐĞƚďǇĂƚƌĂŶƐĨĞƌ ĨƌŽŵƚŚĞ'ĞŶĞƌĂů&ƵŶĚĨŽƌĨƵƚƵƌĞƉƌŽũĞĐƚƐ͘

dŚĞĨƵŶĚďĂůĂŶĐĞŝŶƚŚĞ/ŶĨƌĂƐƚƌƵĐƚƵƌĞZĞƉůĂĐĞŵĞŶƚ&ƵŶĚŝŶĐƌĞĂƐ ĞĚĂƐƚŚĞĐŝƚǇĐŽŶƚŝŶƵĞĚƚŚĞĂŶŶƵĂůƚƌĂŶƐĨĞƌŽĨĨƵŶĚƐ ĨƌŽŵƚŚĞ'ĞŶĞƌĂů&ƵŶĚĨŽƌƚŚĞĨƵƚƵƌĞƌĞƉůĂĐĞŵĞŶƚŽĨĞǆŝƐƚŝŶŐŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚĨĂĐŝůŝƚŝĞƐ͘WƌŽũĞĐƚƐĨŽƌƚŚĞǇĞĂƌŝŶĐůƵĚĞĚ ƚŚĞWŽůŝĐĞĂŶĚ&ŝƌĞ,ĞĂĚƋƵĂƌƚĞƌƐƌĞĨƵƌďŝƐŚŵĞŶƚĂŶĚǀĂƌŝŽƵƐŽƚŚĞƌƉƌŽũĞĐƚƐ͘
ƵƌŝŶŐƚŚĞǇĞĂƌ͕ƚŚĞĐŝƚǇĐŽŶƚŝŶƵĞĚƚŽƐĞƚĂƐŝĚĞŵŽŶĞǇĨŽƌƚŚĞ ĐŽŶƐƚƌƵĐƚŝŽŶŽĨǀĂƌŝŽƵƐƉƌŽũĞĐƚƐǁŝƚŚŝŶƚŚĞƐĞĂŶĚŽƚŚĞƌ ŐŽǀĞƌŶŵĞŶƚĂůĨƵŶĚƐ͘,ŝƐƚŽƌŝĐĂůůǇ͕ƚŚĞĐŝƚǇŚĂƐŶŽƚŝƐƐƵĞĚĚĞďƚƚŽĨƵŶĚƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨĐĂƉŝƚĂůƉƌŽũĞĐƚƐĂŶĚƐĞƚƐĂƐŝĚĞ ĨƵŶĚƐŽŶĂŶĂŶŶƵĂůďĂƐŝƐƵŶƚŝůƐƵĨĨŝĐŝĞŶƚĨƵŶĚƐŚĂǀĞďĞĞŶĐŽůůĞĐƚĞĚĨŽƌƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶŽĨƐƉĞĐŝĨŝĐƉƌŽũĞĐƚƐ͘/ŶĂĚĚŝƚŝŽŶ͕ ƉƌŽũĞĐƚƐǁŝůůŶŽƚďĞĐŽŶƐƚƌƵĐƚĞĚƵŶƚŝůĂŶƚŝĐŝƉĂƚĞĚĂŶŶƵĂůŽƉĞƌĂƚŝŶŐĐŽƐƚƐĐĂŶďĞĂďƐŽƌďĞĚŝŶƚŽƚŚĞĐŝƚǇ͛ƐďƵĚŐĞƚǁŝƚŚŽƵƚ ĐƌĞĂƚŝŶŐĂĚĞĨŝĐŝƚ͘

16 April 4, 2023
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GENERAL FU ND
STATEMENT OF REVENUES, EXl"ENDITURES ANO CHANGES IIN FU ND BALAN CE (i n millions of dolla r,s)
Tota'I
Increase Perce ntage
Tota ll (Decrea'Se) Change
2021 2022 2021 -22
Revenues
Taxes $ 1 49.4 $178 .8 $29.4 19 .7%
Intergovernm ent al 10 .1 7 .9 (2.2) -22.1%
Licenses .and permits 2.4 3 .2 0 .8 3 4.7%
Charges for servi c-es 7.5 9 .8 2.3 3 1.0%
Fines and forfeit ures 0 .4 0 .3 ·(0 .1) -1 4.3%
lnc,ome from property and i nvest ments 5.6 (5.6) (1L2) -199.5% M isc ellaneous 1.6 L 2 (O.4) -25 .8%
Tot al revenues 177.0 195.7 18.7 10.5%
Expend it ures
General govern ment 22.0 22.0 0 .0 0 .0%
Interdepartm ent al cha rges (5.1) (5.3) ·(0 .2) 3.9%
Publ ic safety 78.3 82.0 3.7 4 .7%
Commun ity services 40.5 4 5.0 4.5 11.0%
Publ ic w orks 18.5 20.1 1.6 8.4%
Capit al outlay 0 .0 2.7 2.7 100.0%
Total expe-ndit ur,es 154.2 166A 12 .2 7.9%
Excess (defi,ciency) before transfers 22.8 29.3
Transfers in 0 .0 0 .0
Transfers out (57.0 ) (27.0 )
Increase (decr,ea,se) in fond balance {34.21 2.3
Beginning fund balance 194.0 159.8
Ending fund balance $ 159.8 $ 162.1

WƌŽƉƌŝĞƚĂƌǇ&ƵŶĚƐ

dŚĞƉƵƌƉŽƐĞŽĨƚŚĞĐŝƚǇ͛ƐƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐĞĐƚŝŽŶƐŝƐƚŽƉƌŽǀŝ ĚĞƐŚŽƌƚͲƚĞƌŵĂŶĚůŽŶŐͲƚĞƌŵĨŝŶĂŶĐŝĂůŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚ ƚŚĞĐŝƚǇ͛ƐďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐ͘dŚĞĂŶĂůǇƐŝƐĨŽĐƵƐĞƐŽŶƚŚĞĚĞƚĞƌŵŝŶĂƚŝŽŶŽĨŽƉĞƌĂƚŝŶŐŝŶĐŽŵĞ͕ĐŚĂŶŐĞƐŝŶŶĞƚƉŽƐŝƚŝŽŶ ;ĐŽƐƚƌĞĐŽǀĞƌǇͿ͕ĨŝŶĂŶĐŝĂůƉŽƐŝƚŝŽŶ͕ĂŶĚĐĂƐŚĨůŽǁƐ͘

dŚĞĂƌůƐďĂĚDƵŶŝĐŝƉĂůtĂƚĞƌŝƐƚƌŝĐƚ;DtͿĨƵŶĚƐĞǆƉĞƌŝĞŶĐĞĚĂŶŽƉĞƌĂƚŝŶŐůŽƐƐŽĨĂƉƉƌŽǆŝŵĂƚĞůǇΨϮ͘ϮŵŝůůŝŽŶĨŽƌƚŚĞ ǇĞĂƌ͘ KƉĞƌĂƚŝŶŐ ƌĞǀĞŶƵĞƐ ǁĞƌĞ ĂƉƉƌŽǆŝŵĂƚĞůǇ Ψϱϭ͘ϭ ŵŝůůŝŽŶ ĂŶĚ ŽƉĞƌĂƚŝŶŐ ĞǆƉĞŶƐĞƐ ǁĞƌĞ ĂƉƉƌŽǆŝŵĂƚĞůǇ Ψϱϯ͘ϯŵŝůůŝŽŶ͘tĂƚĞƌƉƵƌĐŚĂƐĞƐǁĂƐŽŶĞŽĨƚŚĞůĂƌŐĞƌĨĂĐƚŽƌƐŝŶƚŚĞŽƉĞƌĂƚŝŶŐůŽƐƐĂŶĚĐĂƵƐĞĚďǇĐŽƐƚŝŶĐƌĞĂƐĞƐŽĨǁĂƚĞƌ ƉƵƌĐŚĂƐĞĚĨƌŽŵƚŚĞDĞƚƌŽƉŽůŝƚĂŶtĂƚĞƌŝƐƚƌŝĐƚĂŶĚƚŚĞ^ĂŶŝĞŐŽŽƵŶƚǇtĂƚĞƌƵƚŚŽƌŝƚǇ;ƐƵƉƉůŝĞƌƐŽĨƚŚĞDt͛Ɛ ƉŽƚĂďůĞǁĂƚĞƌͿ͘dŚĞůŽƐƐǁĂƐŽĨĨƐĞƚďǇĂŶŝŶĐƌĞĂƐĞŝŶǀŽůƵŵĞŽĨ ǁĂƚĞƌƐĂůĞƐ͕ǁŚŝĐŚǁĂƐƉƌŝŵĂƌŝůǇĂƚƚƌŝďƵƚĂďůĞƚŽůŽǁĞƌ ƚŚĂŶĞǆƉĞĐƚĞĚƌĂŝŶĨĂůůŝŶƚŚĞĐƵƌƌĞŶƚǇĞĂƌĂŶĚĂϮйŝŶĐƌĞĂƐĞŝŶ Dt͛ƐǁĂƚĞƌƌĂƚĞƐĞĨĨĞĐƚŝǀĞ:ĂŶƵĂƌǇϮϬϮϭ͕ĂŶĚĂ Ψϭ͘ϴD ƐĞƚƚůĞŵĞŶƚ ĂŐƌĞĞŵĞŶƚ ƌĞĐĞŝǀĞĚ ĨƌŽŵ ƚŚĞ ǁĂƚĞƌ ĂƵƚŚŽƌŝƚŝĞƐ͘ EŽŶŽƉĞƌĂƚŝŶŐ ŝŶĐŽŵĞ ŝŶĐůƵĚĞĚ ƉƌŽƉĞƌƚǇ ĂŶĚ ŝŶǀĞƐƚŵĞŶƚƐŽĨ;Ψϱ͘ϰͿŵŝůůŝŽŶĂŶĚƉƌŽƉĞƌƚǇƚĂǆĞƐŽĨΨϰ͘ϳŵŝůůŝŽŶ͘/ŶĐŽŵĞďĞĨŽƌĞƚƌĂŶƐĨĞƌƐ͕ĐĂƉŝƚĂůĐŽŶƚƌŝďƵƚŝŽŶƐĂŶĚƐƉĞĐŝĂů ŝƚĞŵƐĨŽƌƚŚĞǇĞĂƌǁĂƐ;ΨϮ͘ϵͿŵŝůůŝŽŶ͘

dŚĞtĂƐƚĞǁĂƚĞƌ&ƵŶĚŚĂĚĂŶĂŶŶƵĂůŽƉĞƌĂƚŝŶŐůŽƐƐŽĨΨϭ͘ϱŵŝůůŝŽ ŶĨŽƌƚŚĞĨŝƐĐĂůǇĞĂƌ͘dŽƚĂůƌĞǀĞŶƵĞƐĨƌŽŵŽƉĞƌĂƚŝŽŶƐ ǁĞƌĞƵƉΨϭ͘ϮŵŝůůŝŽŶĨƌŽŵƚŚĞƉƌŝŽƌǇĞĂƌ͕ĚƵĞƉƌŝŵĂƌŝůǇƚŽƌĂƚĞ ŝŶĐƌĞĂƐĞƐ͘KƉĞƌĂƚŝŶŐĞǆƉĞŶƐĞƐǁĞƌĞƵƉΨϴ͘ϴŵŝůůŝŽŶĂŶĚ ǁĞƌĞƉƌŝŵĂƌŝůǇƚŚĞƌĞƐƵůƚŽĨƚŚĞŝŶĐƌĞĂƐĞĚĂĚŵŝŶŝƐƚƌĂƚŝŽŶĂŶĚĐ ĂƉŝƚĂůŝŵƉƌŽǀĞŵĞŶƚƐĐŽŵƉĂƌĞĚƚŽƚŚĞƉƌĞǀŝŽƵƐĨŝƐĐĂů ǇĞĂƌ͘EŽŶŽƉĞƌĂƚŝŶŐƌĞǀĞŶƵĞƐƌĞƐƵůƚĞĚŝŶĂΨϭ͘ϴŵŝůůŝŽŶůŽƐƐĚƌŝ ǀĞŶďǇĂŶĞŐĂƚŝǀĞŵĂƌŬĞƚǀĂůƵĞĂĚũƵƐƚŵĞŶƚĨŽƌƚŚĞĐŝƚǇ͛Ɛ ŝŶǀĞƐƚŵĞŶƚ͘

/ŶƚŚĞĨŝĨƚĞĞŶƚŚǇĞĂƌŽĨŽƉĞƌĂƚŝŽŶ͕ƚŚĞ'ŽůĨŽƵƌƐĞ&ƵŶĚŚĂĚĂŶŽƉĞƌĂƚŝŶŐůŽƐƐŽĨΨϭ͘ϯŵŝůůŝŽŶ͘ ǆĐůƵĚŝŶŐĚĞƉƌĞĐŝĂƚŝŽŶŽĨ
ƚŚĞĞŶƚĞƌƉƌŝƐĞΖƐĂƐƐĞƚƐ;Ψϯ͘ϰŵŝůůŝŽŶͿ͕ƚŚĞ'ŽůĨŽƵƌƐĞ&ƵŶĚ͛ƐŝŶĐŽŵĞǁĂƐΨϮ͘ϭŵŝůůŝŽŶ͘ZĞǀĞŶƵĞƐĞǆĐĞĞĚĞĚĞǆƉĞĐƚĂƚŝŽŶƐ ŝŶƚŚĞĐƵƌƌĞŶƚǇĞĂƌĚƵĞƚŽŝŶĐƌĞĂƐĞĚĚĞŵĂŶĚŝŶƉĂƌƚŝĐŝƉĂƚŝŽŶŝŶ ŽƵƚĚŽŽƌĂĐƚŝǀŝƚŝĞƐ͘dŚŝƐŝŶĐƌĞĂƐĞŝŶƌĞǀĞŶƵĞĚƌŝǀĞŶďǇ ŚŝŐŚĞƌƌŽƵŶĚƐƉůĂǇĞĚǁĂƐĐŽŵďŝŶĞĚǁŝƚŚĂŶŝŶĐƌĞĂƐĞŝŶŐƌĞĞŶĨĞĞƐĚƵƌŝŶŐƚŚĞǇĞĂƌ͘tŚŝůĞƌĞǀĞŶƵĞŝŶĐƌĞĂƐĞĚ͕ŐŽůĨƌĞůĂƚĞĚ ĐŽƐƚƐĂƌĞŐĞŶĞƌĂůůǇĨŝǆĞĚŝŶŶĂƚƵƌĞĂŶĚĚŝĚŶŽƚŝŶĐƌĞĂƐĞĂƚƚŚĞƐĂŵĞƌĂƚĞ͘
^ŽůŝĚtĂƐƚĞKƉĞƌĂƚŝŽŶƐĂŶĚ^ƚŽƌŵtĂƚĞƌWƌŽŐƌĂŵƐĂƌĞĐŽŵďŝŶĞĚŽŶ ƚŚĞĐŝƚǇ͛ƐĨŝŶĂŶĐŝĂůƌĞƉŽƌƚƐĂŶĚƐŚŽǁĞĚĂŶĞƚ ŽƉĞƌĂƚŝŶŐůŽƐƐŽĨΨϬ͘ϴŵŝůůŝŽŶĨŽƌƚŚĞǇĞĂƌ͘ZĞǀĞŶƵĞƐǁĞƌĞƐůŝŐ ŚƚůǇŚŝŐŚĞƌƚŚĂŶƚŚĞƉƌĞǀŝŽƵƐĨŝƐĐĂůǇĞĂƌ͕ĂŶĚĞǆƉĞŶƐĞƐ ŝŶĐƌĞĂƐĞĚĚƵĞƚŽƉůĂŶŶĞĚŽƵƚƐŝĚĞƉƌŽĨĞƐƐŝŽŶĂůƐĞƌǀŝĐĞĐŽƐƚƐ͗ĨŽ ƌƐŽůŝĚǁĂƐƚĞ͕ƌĞĐǇĐůŝŶŐ͕ĂŶĚŽƌŐĂŶŝĐƐŵĂŶĂŐĞŵĞŶƚ ƐĞƌǀŝĐĞƐ͖ŚŽƵƐĞŚŽůĚŚĂǌĂƌĚŽƵƐǁĂƐƚĞĐŽůůĞĐƚŝŽŶĂŶĚĚŝƐƉŽƐĂů͖ĂŶĚĞŶǀŝƌŽŶŵĞŶƚĂůŽƵƚƌĞĂĐŚĂŶĚĞĚƵĐĂƚŝŽŶ͘EŽŶŽƉĞƌĂƚŝŶŐ ƌĞǀĞŶƵĞƐƌĞƐƵůƚĞĚŝŶĂΨϬ͘ϱŵŝůůŝŽŶƌĞĚƵĐƚŝŽŶƚŽƚŚĞΨϬ͘ϴŵŝůůŝŽŶŽƉĞƌĂƚŝŶŐůŽƐƐďĞĨŽƌĞƚƌĂŶƐĨĞƌƐĂŶĚĐĂƉŝƚĂůĐŽŶƚƌŝďƵƚŝŽŶƐ͘
dŚĞƵŶƌĞƐƚƌŝĐƚĞĚŶĞƚƉŽƐŝƚŝŽŶĨŽƌƚŚĞtĂƚĞƌ͕'ŽůĨŽƵƌƐĞ͕tĂƐƚĞǁĂƚĞƌĂŶĚ^ŽůŝĚtĂƐƚĞKƉĞƌĂƚŝŽŶƐĂƚƚŚĞĞŶĚŽĨƚŚĞǇĞĂƌ ĂŵŽƵŶƚĞĚƚŽΨϭϱϬ͘ϭŵŝůůŝŽŶ͕ŽƌĂƉƉƌŽǆŝŵĂƚĞůǇϮϴйŽĨƚŚĞƚŽƚĂůĞŶƚĞƌƉƌŝƐĞĨƵŶĚƐŶĞƚƉŽƐŝƚŝŽŶ͘dŚŝƐƵŶƌĞƐƚƌŝĐƚĞĚďĂůĂŶĐĞ ŝŶĐƌĞĂƐĞĚŵŽƐƚůǇĨƌŽŵƉŽƐŝƚŝǀĞŽƉĞƌĂƚŝŶŐƉĞƌĨŽƌŵĂŶĐĞĞǆĐůƵĚŝŶŐĚĞƉƌĞĐŝĂƚŝŽŶ͘ ĂĐŚĨƵŶĚ͛ƐƵŶƌĞƐƚƌŝĐƚĞĚŶĞƚƉŽƐŝƚŝŽŶŵĂǇ
ďĞƵƐĞĚĨŽƌƌĂƚĞƐƚĂďŝůŝǌĂƚŝŽŶĨŽƌƚŚĞƌĞƐƉĞĐƚŝǀĞĨƵŶĚ͛ƐƐĞƌǀŝĐ ĞƐ͕ĨůƵĐƚƵĂƚŝŽŶƐŝŶŽƉĞƌĂƚŝŶŐĞǆƉĞŶƐĞƐ͕ĂŶĚƵŶĨŽƌĞƐĞĞŶ ƌĞƉĂŝƌƐĂŶĚŵĂŝŶƚĞŶĂŶĐĞ͘ƉƉƌŽǆŝŵĂƚĞůǇΨϯϴ͘ϵŵŝůůŝŽŶ͕Žƌϳй͕ŽĨ ƚŚĞŶĞƚƉŽƐŝƚŝŽŶŽĨĂůůƚŚĞƉƌŽƉƌŝĞƚĂƌǇĨƵŶĚƐĂƌĞ ƌĞƐƚƌŝĐƚĞĚĨŽƌĨƵƚƵƌĞĐĂƉŝƚĂůĐŽŶƐƚƌƵĐƚŝŽŶŽĨŶĞǁĂŶĚƌĞƉůĂĐĞŵĞ ŶƚǁĂƚĞƌĂŶĚǁĂƐƚĞǁĂƚĞƌŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂƐƐĞƚƐ͘^ŝŶĐĞ ĨƵŶĚŝŶŐĨŽƌƚŚĞƌĞƉůĂĐĞŵĞŶƚŽĨŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂƐƐĞƚƐŝƐŶŽƚƌĞƐ ƚƌŝĐƚĞĚ͕ŝƚŝƐƌĞĨůĞĐƚĞĚŝŶƚŚĞ^ƚĂƚĞŵĞŶƚŽĨEĞƚWŽƐŝƚŝŽŶĂƐ ƵŶƌĞƐƚƌŝĐƚĞĚ͘dŚĞĐŝƚǇĚŽĞƐ͕ŚŽǁĞǀĞƌ͕ĂĐĐŽƵŶƚĨŽƌĂŶĚŵŽŶŝƚŽƌƚŚĞƐĞĂŵŽƵŶƚƐŝŶƐĞƉĂƌĂƚĞĨƵŶĚƐƚŽĞŶƐƵƌĞƚŚĂƚǁĂƚĞƌĂŶĚ ǁĂƐƚĞǁĂƚĞƌĂƐƐĞƚƐĐĂŶďĞƌĞƉůĂĐĞĚǁŚĞŶŶĞĞĚĞĚ͘

17 April 4, 2023
Item #5 Page 50 of 195
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'ĞŶĞƌĂů&ƵŶĚƵĚŐĞƚĂƌǇ,ŝŐŚůŝŐŚƚƐĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϭͲϮϮ
DĂŶĂŐĞŵĞŶƚŵŽŶŝƚŽƌƐƌĞǀĞŶƵĞƐĚƵƌŝŶŐƚŚĞǇĞĂƌĂŶĚƵƉĚĂƚĞƐĞƐƚŝŵĂ ƚĞĚƌĞǀĞŶƵĞĨŝŐƵƌĞƐǁŚĞŶŶĞǁŝŶĨŽƌŵĂƚŝŽŶŝƐ ƌĞĐĞŝǀĞĚ͘'ĞŶĞƌĂů&ƵŶĚƌĞǀĞŶƵĞĞƐƚŝŵĂƚĞƐǁĞƌĞƌĞǀŝƐĞĚŵŝŶŝŵĂůůǇ ĚƵƌŝŶŐƚŚĞǇĞĂƌ͕ĂƐĐŽŵƉĂƌĞĚƚŽƚŚĞŽƌŝŐŝŶĂůůǇ ďƵĚŐĞƚĞĚĞƐƚŝŵĂƚĞƐ͘^ŽŵĞŽĨƚŚĞĨĂĐƚŽƌƐƚŚĂƚůĞĚƚŽƚŚĞΨϬ͘ϲŵŝůůŝŽŶŝŶĐƌĞĂƐĞŝŶƌĞǀĞŶƵĞĞƐƚŝŵĂƚĞƐŝŶĐůƵĚĞĚ͗
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x ^ĂǀŝŶŐƐďǇǀĂƌŝŽƵƐŵĂũŽƌƐĞƌǀŝĐĞĂƌĞĂƐǁŝƚŚŝŶƚŚĞĐŝƚǇŵĂŬŝŶŐƵƉƚŚĞƌĞŵĂŝŶŝŶŐĚŝĨĨĞƌĞŶĐĞ͘ƵƌƌĞŶƚǇĞĂƌƐĂǀŝŶŐƐ ǁĞƌĞŐĞŶĞƌĂƚĞĚĨƌŽŵ͗
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o KǀĞƌĂůůĂǁĂƌĞŶĞƐƐŽĨĨŝƐĐĂůƌĞƐƉŽŶƐŝďŝůŝƚǇƚŚƌŽƵŐŚŽƵƚƚŚĞĐŝƚǇ
&ŽƌƉƵƌƉŽƐĞƐŽĨďƵĚŐĞƚĂƌǇƉƌĞƐĞŶƚĂƚŝŽŶ͕ĂĐƚƵĂůƌĞǀĞŶƵĞƐŚĂǀĞďĞ ĞŶĂĚũƵƐƚĞĚƚŽĞǆĐůƵĚĞƵŶƌĞĂůŝǌĞĚŐĂŝŶƐĂŶĚůŽƐƐĞƐŝŶ ŝŶǀĞƐƚŵĞŶƚƐƉƵƌƐƵĂŶƚƚŽ'^͖ĂĐƚƵĂůĞǆƉĞŶĚŝƚƵƌĞƐŚĂǀĞďĞĞŶĂĚũƵƐƚĞĚƚŽŝŶĐůƵĚĞƌĞŵĂŝŶŝŶŐĞŶĐƵŵďƌĂŶĐĞƐ͘ 18 April 4, 2023
Item #5 Page 51 of 195
('city of
Carlsbad

ĂƉŝƚĂůƐƐĞƚĂŶĚĞďƚĚŵŝŶŝƐƚƌĂƚŝŽŶ

ĂƉŝƚĂůƐƐĞƚƐ

ƚƚŚĞĞŶĚŽĨĨŝƐĐĂůǇĞĂƌϮϬϮϭͲϮϮ͕ƚŚĞĐŝƚǇŚĂĚƌĞĐŽƌĚĞĚŝŶǀĞƐƚŵĞŶƚƐŽĨŽǀĞƌΨϭ͘ϭďŝůůŝŽŶŝŶĂďƌŽĂĚƌĂŶŐĞŽĨĐĂƉŝƚĂůĂƐƐĞƚƐ͕ ŝŶĐůƵĚŝŶŐƉĂƌŬĨĂĐŝůŝƚŝĞƐ͕ůĂŶĚ͕ďƵŝůĚŝŶŐƐ͕ƌŽĂĚƐ͕ďƌŝĚŐĞƐ͕ĚƌĂ ŝŶĂŐĞĨĂĐŝůŝƚŝĞƐ͕ǁĂƚĞƌĂŶĚǁĂƐƚĞǁĂƚĞƌůŝŶĞƐ͕WŽůŝĐĞĂŶĚ&ŝƌĞ ǀĞŚŝĐůĞƐ͕ĂŶĚŽƚŚĞƌŵĂŝŶƚĞŶĂŶĐĞĞƋƵŝƉŵĞŶƚ͘dŚŝƐŶƵŵďĞƌŝŶĐůƵĚĞƐŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂƐƐĞƚƐŽĨƚŚĞŐĞŶĞƌĂůŐŽǀĞƌŶŵĞŶƚǁŚŝĐŚ ĂƌĞƌĞƋƵŝƌĞĚƉĞƌ'^͘

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'ŽǀĞƌŶŵĞŶƚĂů ƵƐŝŶĞƐƐͲdǇƉĞ
19 April 4, 2023
Item #5 Page 52 of 195
( City of
Carlsbad

dŚĞƐĞĂĚĚŝƚŝŽŶĂůĂƉƉƌŽƉƌŝĂƚŝŽŶƐǁĞƌĞƉƌŝŶĐŝƉĂůůǇĨŽƌƚŚĞĨŽůůŽǁŝŶŐƉƌŽũĞĐƚƐ͗ǀĞŶŝĚĂ ŶĐŝŶĂƐǁŝĚĞŶŝŶŐƐŽƵƚŚŽĨWĂůŽŵĂƌ
ŝƌƉŽƌƚZŽĂĚ͖ĂƌůƐďĂĚŽƵůĞǀĂƌĚǁĂƚĞƌůŝŶĞƌĞƉůĂĐĞŵĞŶƚĂƚdĞƌƌĂŵĂƌ͖ĂƌůƐďĂĚtĂƚĞƌZĞĐǇĐůŝŶŐ ŶĐŝŶĂĐĂƉŝƚĂůƉƌŽũĞĐƚƐ͖
ĐŝƚǇǁŝĚĞĚƌĂŝŶĂŐĞŝŵƉƌŽǀĞŵĞŶƚƉƌŽŐƌĂŵ͖ĞƐĂůŝŶĂƚĞĚtĂƚĞƌ&ůŽǁ&ĂĐŝůŝƚǇEŽ͘ϱƉƌŽũĞĐƚƐ͖ ůĂŵŝŶŽZĞĂůǁŝĚĞŶŝŶŐĨƌŽŵ
WŽŝŶƐĞƚƚŝĂ>ĂŶĞƚŽĂŵŝŶŽsŝĚĂZŽďůĞ͖
ŶĐŝŶĂĐĂƉŝƚĂůƉƌŽũĞĐƚƐ͖ ĨůĞĞƚĨƵĞůŝƐůĂŶĚƵƉŐƌĂĚĞ͖<ĞůůǇƌŝǀĞĂŶĚWĂƌŬƌŝǀĞ ĐŽŵƉůĞƚĞƐƚƌĞĞƚŝŵƉƌŽǀĞŵĞŶƚƐ͖>ĞŽĂƌƌŝůůŽZĂŶĐŚƌŽŽĨƌĞƉĂŝƌƐ͖WĂƌŬƌŝǀĞƐƚƌĞĞƚĂŶĚĚƌĂŝŶĂŐĞŝŵƉƌŽǀĞŵĞŶƚƐ͖ƉĂǀĞŵĞŶƚ ŵĂŶĂŐĞŵĞŶƚ ƉƌŽŐƌĂŵ͖ ^ ŝŵƉƌŽǀĞŵĞŶƚƐ͖ ƐĞǁĞƌ ůŝĨƚ ƐƚĂƚŝŽŶ ƌĞƉĂŝƌƐ ĂŶĚ ƵƉŐƌĂĚĞƐ͖ dĞƌƌĂŵĂƌ ĂƌĞĂ ĐŽĂƐƚĂů ŝŵƉƌŽǀĞŵĞŶƚƐ͖sĞƚĞƌĂŶƐDĞŵŽƌŝĂůWĂƌŬ͖ǁĂƚĞƌƐǇƐƚĞŵƌĞŚĂďŝůŝƚĂƚŝŽŶĂŶĚƌĞƉůĂĐĞŵĞŶƚ͖ĂŶĚƚŚĞƚƌĂŶƐĨĞƌŽĨ&ŝƌĞ^ƚĂƚŝŽŶ EŽ͘ϰĨƵŶĚƐƚŽƚŚĞ'ĞŶĞƌĂů&ƵŶĚ͘

dŚĞƐĞƉƌŽũĞĐƚƐǁŝůůďĞĨŝŶĂŶĐĞĚďǇĚĞǀĞůŽƉŵĞŶƚĨĞĞƐ͕ŝŶĨƌĂƐƚƌƵĐƚƵƌĞĂŶĚƌĞƉůĂĐĞŵĞŶƚƚƌĂŶƐĨĞƌƐĨƌŽŵƚŚĞ'ĞŶĞƌĂů&ƵŶĚ͕ ƐƉĞĐŝĂůĚŝƐƚƌŝĐƚĨĞĞƐĂŶĚƚĂǆĞƐ͕ǁĂƚĞƌĂŶĚǁĂƐƚĞǁĂƚĞƌƌĞƉůĂĐĞŵĞŶƚƌĞƐĞƌǀĞƐĂŶĚŽƚŚĞƌƐŽƵƌĐĞƐ͕ŝŶĐůƵĚŝŶŐŐƌĂŶƚƐĂŶĚ ĐŽŶƚƌŝďƵƚŝŽŶƐĨƌŽŵŽƚŚĞƌĂŐĞŶĐŝĞƐ͘DŽƌĞĚĞƚĂŝůĞĚŝŶĨŽƌŵĂƚŝŽŶĂďŽƵƚƚŚĞĐŝƚǇ͛ƐĐĂƉŝƚĂůĂƐƐĞƚƐŝƐƉƌĞƐĞŶƚĞĚŝŶEŽƚĞϲŽĨƚŚĞ ĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂŶĚŝŶƚŚĞĐŝƚǇ͛ƐĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚWƌŽŐ ƌĂŵ;/WͿĚŽĐƵŵĞŶƚ͕ǁŚŝĐŚĐĂŶďĞĨŽƵŶĚŽŶƚŚĞĐŝƚǇ͛Ɛ ǁĞďƐŝƚĞŽƌŽďƚĂŝŶĞĚĨƌŽŵƚŚĞĚŵŝŶŝƐƚƌĂƚŝǀĞ^ĞƌǀŝĐĞƐĞƉĂƌƚŵĞŶƚ͘
>ŽŶŐͲƚĞƌŵĞďƚ

ƚĨŝƐĐĂůǇĞĂƌͲĞŶĚ͕ƚŚĞĐŝƚǇŚĂĚΨϭϮ͘ϱŵŝůůŝŽŶŝŶůŽĂŶƐĂŶĚůĞĂ ƐĞƐ͕ĂĚĞĐƌĞĂƐĞŽĨΨϭ͘ϯŵŝůůŝŽŶĨƌŽŵůĂƐƚǇĞĂƌ͕ĂƐƐŚŽǁŶŝŶ ƚŚĞƚĂďůĞĂďŽǀĞ͘ZĞŐƵůĂƌƉĂǇŵĞŶƚƐǁĞƌĞŵĂĚĞŽŶĂůůƚŚĞĐŝƚǇ͛ƐŽƵƚƐƚĂŶĚŝŶŐůŽĂŶƐĂŶĚůĞĂƐĞƐ͘DŽƌĞĚĞƚĂŝůĂďŽƵƚƚŚĞĐŝƚǇ͛Ɛ ůŽŶŐͲƚĞƌŵůŝĂďŝůŝƚŝĞƐŝƐƉƌĞƐĞŶƚĞĚŝŶEŽƚĞϲŽĨƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘

ĐŽŶŽŵŝĐ&ĂĐƚŽƌƐĂŶĚEĞǆƚzĞĂƌ͛ƐƵĚŐĞƚƐĂŶĚZĂƚĞƐĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϮͲϮϯ
dŚĞĂƌůƐďĂĚĞĐŽŶŽŵǇŝƐĚŝǀĞƌƐĞ͕ŚĂƐƐƚƌŽŶŐŝŶĚƵƐƚƌǇĐůƵƐƚĞƌƐĂŶĚŝƐĂůĞĂĚĞƌŝŶŝŶŶŽǀĂƚŝŽŶ͘ĐĐŽƌĚŝŶŐƚŽƚŚĞŵŽƐƚƌĞĐĞŶƚ ďŝĞŶŶŝĂůďƵƐŝŶĞƐƐƐƵƌǀĞǇŽĨĂƌůƐďĂĚďƵƐŝŶĞƐƐĞƐ͕ƌĞůĞĂƐĞĚŝŶ:ĂŶƵĂƌǇϮϬϮϮ͕ĨŝǀĞŬĞǇŝŶĚƵƐƚƌǇĐůƵƐƚĞƌƐĂƌĞĚƌŝǀŝŶŐŐƌŽǁƚŚ͗ x >ŝĨĞƐĐŝĞŶĐĞƐ
x /ŶĨŽƌŵĂƚŝŽŶ͕ĐŽŵŵƵŶŝĐĂƚŝŽŶƐĂŶĚƚĞĐŚŶŽůŽŐŝĞƐ
x ůĞĂŶƚĞĐŚ
x ^ƉŽƌƚƐŝŶŶŽǀĂƚŝŽŶĂŶĚĚĞƐŝŐŶ
x ,ŽƐƉŝƚĂůŝƚǇĂŶĚƚŽƵƌŝƐŵ
dŚĞŐƌŽƐƐƌĞŐŝŽŶĂůƉƌŽĚƵĐƚĨŽƌĂƌůƐďĂĚŝƐΨϭϰ͘ϲďŝůůŝŽŶ͕ŝŶĚŝĐ ĂƚŝŶŐƚŚĂƚĂƌůƐďĂĚŝƐƚŚĞůĂƌŐĞƐƚĞĐŽŶŽŵǇŝŶƚŚĞĐŽƵŶƚǇ ďĞŚŝŶĚƚŚĞŝƚǇŽĨ^ĂŶŝĞŐŽ͘ŽŵƉĂŶŝĞƐƚŚĂƚĐĂůůĂƌůƐďĂĚŚŽŵĞĂƌĞĂƚƚŚĞĨŽƌĞĨƌŽŶƚŝŶĂƌĞĂƐŽĨƚĞĐŚŶŽůŽŐǇĂŶĚ ŝŶŶŽǀĂƚŝŽŶ͕ĂŶĚƚŚĞĐŝƚǇ͛ƐŚŽƐƉŝƚĂůŝƚǇĂŶĚƚŽƵƌŝƐŵŝŶĚƵƐƚƌǇŐĞŶĞƌĂƚĞƚŚĞƐĞĐŽŶĚͲŚŝŐŚĞƐƚĂŵŽƵŶƚŽĨƚƌĂŶƐŝĞŶƚŽĐĐƵƉĂŶĐǇ ƚĂǆĂŵŽŶŐƚŚĞĐŽƵŶƚǇ͛ƐϭϴĐŝƚŝĞƐ͘

dŚĞKs/ͲϭϵƉĂŶĚĞŵŝĐƚŽŽŬĂƚŽůůŽŶƚŚĞĐŝƚǇ͛ƐďƵƐŝŶĞƐƐĞƐ͕ǁŝƚ ŚƵŶĞŵƉůŽǇŵĞŶƚƐƉŝŬŝŶŐƚŽϭϯ͘ϴйŝŶƉƌŝůϮϬϮϬ͘DĂŶǇ ďƵƐŝŶĞƐƐĞƐǁĞƌĞĨŽƌĐĞĚƚŽƌĞĚƵĐĞŽƌƐƵƐƉĞŶĚŽƉĞƌĂƚŝŽŶƐƚĞŵƉŽƌĂƌ ŝůǇĂƚǀĂƌŝŽƵƐƚŝŵĞƐƚŚƌŽƵŐŚŽƵƚƚŚĞƉĂŶĚĞŵŝĐĂŶĚ ĐŽƌƌĞƐƉŽŶĚŝŶŐƉƵďůŝĐŚĞĂůƚŚŽƌĚĞƌƐ͘

,ŽǁĞǀĞƌ͕ďĞĐĂƵƐĞŽĨƚŚĞĚŝǀĞƌƐŝƚǇŽĨŝŶĚƵƐƚƌŝĞƐ͕ƐƚƌĂƚĞŐŝĐĞŶŐĂ ŐĞŵĞŶƚďǇƚŚĞĐŝƚǇŽĨĂƌůƐďĂĚƚŽĂƚƚƌĂĐƚĂŶĚŐƌŽǁ ŝŶŶŽǀĂƚŝŽŶďƵƐŝŶĞƐƐĞƐĂŶĚƌĂƉŝĚĂůůŽĐĂƚŝŽŶŽĨĨŝŶĂŶĐŝĂůƌĞƐŽƵƌĐ ĞƐƚŽƌĞƐƉŽŶĚƚŽƚŚĞƉĂŶĚĞŵŝĐ͕ƚŚĞĞĐŽŶŽŵŝĐŝŵƉĂĐƚŽŶ ĂƌůƐďĂĚǁĂƐůĞƐƐƚŚĂŶƐƵƌƌŽƵŶĚŝŶŐĐŝƚŝĞƐ͘DĂŶǇďƵƐŝŶĞƐƐĞƐƌĞĐŽǀĞƌĞĚƌĂƉŝĚůǇĂŶĚƌĞƐƵŵĞĚŐƌŽǁƚŚ͘
dŽƚĂů
WĞƌĐĞŶƚĂŐĞ
ŚĂŶŐĞ
ϮϬϮϭ ϮϬϮϮ ϮϬϮϭ ϮϬϮϮ ϮϬϮϭ ϮϬϮϮ ϮϬϮϭͲϮϮ
>ĞĂƐĞƐ ΨϬ ΨϮϮ͕ϯϳϳ ΨϬ ΨϬ ΨϬ ΨϮϮ͕ϯϳϳ Eͬ
>ŽĂŶƐ Ϭ Ϭ ϭϯ͕ϳϰϵ͕ϴϵϵ ϭϮ͕ϰϰϯ͕ϱϯϳ ϭϯ͕ϳϰϵ͕ϴϵϵ ϭϮ͕ϰϰϯ͕ϱϯϳ Ͳϵ͘ϱй dŽƚĂů ΨϬ ΨϮϮ͕ϯϳϳ Ψϭϯ͕ϳϰϵ͕ϴϵϵ ΨϭϮ͕ϰϰϯ͕ϱϯϳ Ψϭϯ͕ϳϰϵ͕ϴϵϵ ΨϭϮ͕ϰϲϱ͕ϵϭϰ Ͳϵ͘ϯй ĐƚŝǀŝƚŝĞƐ ĐƚŝǀŝƚŝĞƐ dŽƚĂů
/dzK&Z>^Ζ^Khd^dE/E'
d
'ŽǀĞƌŶŵĞŶƚĂů ƵƐŝŶĞƐƐͲdǇƉĞ
20 April 4, 2023
Item #5 Page 53 of 195
( City of
Carlsbad

hŶĞŵƉůŽǇŵĞŶƚĐŽŶƚŝŶƵĞĚŝƚƐĚŽǁŶǁĂƌĚƚƌĞŶĚƌĞĂĐŚŝŶŐĂůŽǁŽĨϮ͘ϰ йŝŶDĂǇϮϬϮϮ͕ďĞĨŽƌĞƌŝƐŝŶŐƐůŝŐŚƚůǇƚŽϯйŝŶ ƵŐƵƐƚϮϬϮϮ͘/Ŷ^ĞƉƚĞŵďĞƌϮϬϮϮ͕ĂƌůƐďĂĚƵŶĞŵƉůŽǇŵĞŶƚĚŝƉƉĞĚďĂ ĐŬĚŽǁŶƚŽϮ͘ϳй͘dŚĞƵŶĞŵƉůŽǇŵĞŶƚƌĂƚĞŝŶ ^ĞƉƚĞŵďĞƌǁĂƐϯ͘ϵйĂƚƚŚĞƐƚĂƚĞůĞǀĞůĂŶĚϯ͘ϭйĂƚƚŚĞĐŽƵŶƚǇůĞǀĞů͘
KŶŐŽŝŶŐŝŶĨůĂƚŝŽŶĂŶĚĐŽŶĐĞƌŶƐŽĨĂƌĞĐĞƐƐŝŽŶĂƌĞŝŵƉĂĐƚŝŶŐƚŚĞ ůĂďŽƌŵĂƌŬĞƚ͘tŚŝůĞŝƚƌĞŵĂŝŶƐƚŝŐŚƚĨŽƌŶŽǁ͕ƐŽŵĞ ĞŵƉůŽǇĞƌƐŚĂǀĞŶŽƚĞĚĂƐůŝŐŚƚĞĂƐŝŶŐŝŶƚŚĞŝƌĂďŝůŝƚǇƚŽĨŝŶĚǁŽƌŬĞƌƐ͘'ŽŝŶŐŝŶƚŽƚŚĞŚŽůŝĚĂǇƐ͕ŵĂŶǇŶĂƚŝŽŶĂůƌĞƚĂŝůĞƌƐŚĂǀĞ ƉƌŽũĞĐƚĞĚƐůŽǁĞƌƐĞĂƐŽŶĂůŚŝƌŝŶŐƚŚĂŶƉƌĞǀŝŽƵƐǇĞĂƌƐ͘dŚŝƐŵĂǇĂĨĨĞĐƚƵŶĞŵƉůŽǇŵĞŶƚƌĂƚĞƐŝŶƚŚĞƐĞĐŽŶĚƋƵĂƌƚĞƌ͘
'ůŽďĂůĚŝƐƌƵƉƚŝŽŶƐĂůƐŽĐŽŶƚŝŶƵĞƚŽŝŵƉĂĐƚŽƵƌůŽĐĂů͕ƐƚĂƚĞ͕ĂŶ ĚŶĂƚŝŽŶĂůĞĐŽŶŽŵǇĚƵĞƚŽƐƵƉƉůǇĐŚĂŝŶƐ͕ŽŝůƐƵƉƉůŝĞƐ͕ ĞŶĞƌŐǇĐŽƐƚƐ͕ĂŶĚŝŶĨůĂƚŝŽŶ͘
ŵƉůŽǇĞƌƐĐŝƚĞǁŽƌŬĞƌƐŚŽƌƚĂŐĞƐ͕ƐƵƉƉůǇĐŚĂŝŶŝƐƐƵĞƐĂŶĚƌŝƐŝŶŐĐŽƐƚƐĂƐƚŚĞďŝŐŐĞƐƚĐŚĂůůĞŶŐĞƐ ƚŽĚŽŝŶŐďƵƐŝŶĞƐƐƚŽĚĂǇ͘

dŚĞŝŵƉŽƌƚĂŶĐĞŽĨŵŽŶŝƚŽƌŝŶŐĞĐŽŶŽŵŝĐƚƌĞŶĚƐĂƚŐůŽďĂůĂƐǁĞůů ĂƐůŽĐĂůůĞǀĞůƐďĞĐŽŵĞƐŝŶĐƌĞĂƐŝŶŐůǇŝŵƉŽƌƚĂŶƚĂƐƚŚĞ ĐŝƚǇŶĂǀŝŐĂƚĞƐƚŚĞƐĞƵŶĐĞƌƚĂŝŶƚŝŵĞƐ͘ĞůŽǁĂƌĞďƵĚŐĞƚĂƌǇĞǆƉĞĐ ƚĂƚŝŽŶƐĂŶĚŚŝŐŚůŝŐŚƚƐĨƌŽŵƚŚĞĨŝƐĐĂůǇĞĂƌϮϬϮϮͲϮϯ ĂĚŽƉƚĞĚďƵĚŐĞƚ͘

x WƌŽƉĞƌƚǇƚĂǆ͕ƚŚĞůĂƌŐĞƐƚƐŽƵƌĐĞŽĨ'ĞŶĞƌĂů&ƵŶĚƌĞǀĞŶƵĞƐ͕ŝƐĞǆƉĞĐƚĞĚƚŽŐƌŽǁďǇϲйŽǀĞƌůĂƐƚǇĞĂƌ͛ƐĂĚŽƉƚĞĚ ďƵĚŐĞƚĂŶĚϮ͘ϯйŽǀĞƌƚŚĞĨŝƐĐĂůǇĞĂƌϮϬϮϭͲϮϮĞƐƚŝŵĂƚĞĚĂŵŽƵŶƚ͘ tŚŝůĞƚŚĞƌĞƐŝĚĞŶƚŝĂůƌĞĂůĞƐƚĂƚĞŵĂƌŬĞƚŝŶ ĂƌůƐďĂĚŚĂƐƐĞĞŶƐŝŐŶŝĨŝĐĂŶƚŝŶĐƌĞĂƐĞƐŝŶǀĂůƵĞƐ͕ĐŽŵŵĞƌĐŝĂůƉƌŽƉĞƌƚǇĂƐƐĞƐƐĞĚǀĂůƵĞƐĂƌĞƐƚŝůůĞǆƉĞĐƚĞĚƚŽƌĞŵĂŝŶ ƌĞůĂƚŝǀĞůǇĨůĂƚ͘ƵĞƚŽƚŚĞƵŶĐĞƌƚĂŝŶƚǇĂŶĚƐůŽǁĚŽǁŶŽĨĞĐŽŶŽŵŝ ĐĂĐƚŝǀŝƚǇĐƌĞĂƚĞĚĨƌŽŵƚŚĞKs/ͲϭϵƉĂŶĚĞŵŝĐ͕ ĐŽŵŵĞƌĐŝĂůƉƌŽƉĞƌƚǇƚƌĂŶƐĂĐƚŝŽŶƐŚĂǀĞďĞĞŶůŝŵŝƚĞĚĚƵƌŝŶŐƚŚĞƉ ƌŝŽƌǇĞĂƌ͘WƌŽƉŽƐŝƚŝŽŶϴĂůůŽǁƐŽǁŶĞƌƐƚŽŚĂǀĞ ƚŚĞŝƌƉƌŽƉĞƌƚǇƚĞŵƉŽƌĂƌŝůǇƌĞǀĂůƵĞĚŝĨŵĂƌŬĞƚǀĂůƵĞŝƐůŽǁĞƌƚŚ ĂŶƚŚĞĨĂĐƚŽƌĞĚďĂƐĞǇĞĂƌǀĂůƵĞ͕ƉŽƐŝŶŐĂƌŝƐŬƚŚĂƚ ĐŽŵŵĞƌĐŝĂůƉƌŽƉĞƌƚǇǀĂůƵĞƐĐŽƵůĚƚĞŵƉŽƌĂƌŝůǇĚĞĐƌĞĂƐĞ͘tŚŝůĞƌĞĐŽǀĞƌǇĨƌŽŵƚŚĞƉĂŶĚĞŵŝĐŚĂƐĐŽŵŵĞŶĐĞĚ͕ŶĞǁ ƵŶĐĞƌƚĂŝŶƚŝĞƐŚĂǀĞŐƌŽǁŶƐƵƌƌŽƵŶĚŝŶŐƚŚĞĞĐŽŶŽŵǇ͕ƐƉĞĐŝĨŝĐĂůůǇ ŝŶĨůĂƚŝŽŶĂŶĚŝŵƉĂĐƚƐŽŶĚŝƐƉŽƐĂďůĞŝŶĐŽŵĞĂŶĚ ƚŚĞŚŽƵƐŝŶŐŵĂƌŬĞƚ͘ŽŵŵĞƌĐŝĂůƉƌŽƉĞƌƚǇƉƌŝĐĞƐĂƌĞŶŽƚĂŶƚŝĐŝƉĂ ƚĞĚƚŽŝŶĐƌĞĂƐĞƐŝŐŶŝĨŝĐĂŶƚůǇŽŶĂŶĂŶŶƵĂůďĂƐŝƐ͘ ƐƐĞƐƐĞĚǀĂůƵĞƐŽŶƚŚĞƌĞƐŝĚĞŶƚŝĂůƌĞĂůĞƐƚĂƚĞĂƌĞĞǆƉĞĐƚĞĚƚŽ ŐƌŽǁŵŽĚĞƐƚůǇ͕ĐĂƉƉĞĚďǇĂůŝĨŽƌŶŝĂ͛ƐWƌŽƉŽƐŝƚŝŽŶ ϭϯ͘WƌŽƉŽƐŝƚŝŽŶϭϯ͕ĂĚŽƉƚĞĚŝŶϭϵϳϴ͕ůŝŵŝƚƐƚŚĞĂŶŶƵĂůŝŶĐƌĞĂƐĞ ŝŶĂƐƐĞƐƐĞĚǀĂůƵĞƐĨŽƌƉƌŽƉĞƌƚǇ͘hŶĚĞƌƚŚŝƐ ƉƌŽƉŽƐŝƚŝŽŶ͕ĂƐƐĞƐƐĞĚǀĂůƵĞƐ;ĂŶĚƚŚĞƌĞůĂƚĞĚƉƌŽƉĞƌƚǇƚĂǆͿĐĂŶŐƌŽǁďǇŶŽŵŽƌĞƚŚĂŶϮйƉĞƌǇĞĂƌ͘dŚĞǀĂůƵĞƵƉŽŶ ǁŚŝĐŚƚŚĞƚĂǆŝƐďĂƐĞĚŝƐŽŶůǇŝŶĐƌĞĂƐĞĚƚŽƚŚĞĨƵůůŵĂƌŬĞƚǀĂůƵĞƵƉŽŶƚŚĞƐĂůĞŽĨĂƉƌŽƉĞƌƚǇ͘dŚĞŵĂǆŝŵƵŵŝŶĐƌĞĂƐĞ ŽĨĂƐƐĞƐƐĞĚǀĂůƵĞƐǁŚĞŶƉƌŽƉĞƌƚŝĞƐĂƌĞŶŽƚƐŽůĚŝƐďǇƚŚĞĐŚĂŶŐ ĞŝŶĂůŝĨŽƌŶŝĂ͛ƐŽŶƐƵŵĞƌWƌŝĐĞ/ŶĚĞǆ͕ǁŚŝĐŚǁĂƐ ϭ͘ϬϯϲйŝŶϮϬϮϭͲϮϮʹďĞůŽǁƚŚĞϮйĐĂƉĨŽƌƚŚĞĨŝƌƐƚƚŝŵĞƐŝŶĐĞϮϬϭϲͲϭϳ͘ZĞƐŝĚĞŶƚŝĂůĂĐƚŝǀŝƚǇŚĂƐďĞĞŶĚƌŝǀĞŶďǇůŽǁ ŝŶƚĞƌĞƐƚƌĂƚĞƐŽŶŵŽƌƚŐĂŐĞƐ͕ƉĞŶƚͲƵƉĚĞŵĂŶĚƚŚĂƚďƵŝůƚĚƵƌŝŶŐƚŚĞƐŚƵƚĚŽǁŶĂŶĚĂŶŝŶĐƌĞĂƐĞŝŶƚŚĞĂďŝůŝƚǇƚŽǁŽƌŬ ƌĞŵŽƚĞůǇ͘/ŶĐƌĞĂƐŝŶŐƌĂƚĞƐĂŶĚĚŝŵŝŶŝƐŚŝŶŐƉĞŶƚͲƵƉĚĞŵĂŶĚĂƐǁĞĞǆŝƚƚŚĞƉĂŶĚĞŵŝĐǁŝůůŚĂǀĞĂŶŝŵƉĂĐƚĐŽŵƉĂƌĞĚ ƚŽƉĂƐƚĞǆƉĞƌŝĞŶĐĞ͘dŚĞŵĞĚŝĂŶƉƌŝĐĞŽĨĂƐŝŶŐůĞͲĨĂŵŝůǇƌĞƐŝĚĞŶ ĐĞŝŶĂƌůƐďĂĚďĂƐĞĚŽŶƌĞƐĂůĞĚĂƚĂĨƌŽŵŝůůŽǁŝƐ Ψϭ͘ϰŵŝůůŝŽŶ͕ƵƉďǇϮϴ͘ϱйǇĞĂƌŽǀĞƌǇĞĂƌŝŶDĂƌĐŚϮϬϮϮ͘
x ^ĂůĞƐdĂǆƌĞǀĞŶƵĞƐŐĞŶĞƌĂůůǇŵŽǀĞŝŶƐƚĞƉǁŝƚŚĞĐŽŶŽŵŝĐĐŽŶĚŝƚŝ ŽŶƐĂŶĚŽǀĞƌĂůůĂƌůƐďĂĚ͛ƐĞĐŽŶŽŵǇŚĂƐďĞĞŶ ŶĞƵƚƌĂůĚƵƌŝŶŐƚŚĞƉĂŶĚĞŵŝĐ͘dŚĞƌĞƐƚƌŝĐƚŝŽŶƐƌĞƐƵůƚŝŶŐĨƌŽŵƚŚ ĞKs/ͲϭϵƉĂŶĚĞŵŝĐŚĂǀĞůĞĚƚŽŝŶĐƌĞĂƐĞƐŝŶ ƐĞŐŵĞŶƚƐůŝŬĞĂƵƚŽƐĂůĞƐ͕ĐŽŶƐƚƌƵĐƚŝŽŶ͕ĚƌƵŐƐƚŽƌĞƐĂůĞƐ͕ĐŚĞŵŝĐĂůƉƌŽĚƵĐƚƐ͕ĨŽŽĚŵĂƌŬĞƚƐĂŶĚƌĞĐƌĞĂƚŝŽŶĂůƉƌŽĚƵĐƚƐ͕ ǁŚŝůĞŽƚŚĞƌƐůŝŬĞƌĞƐƚĂƵƌĂŶƚƐĂŶĚŐĞŶĞƌĂůƌĞƚĂŝůƚŽŽŬĂŵĂũŽƌŚŝƚ͘dŚĞĐŝƚǇŚĂƐĂůƐŽďĞŶĞĨŝƚƚĞĚĨƌŽŵƐĂůĞƐƚĂǆƌĞǀĞŶƵĞƐ ŽŶŝŶƚĞƌŶĞƚƐĂůĞƐŐĞŶĞƌĂƚĞĚĂƐĂƌĞƐƵůƚŽĨƚŚĞtĂǇĨĂŝƌŽƌϭϰϳůĂǁƚŚĂƚǁĞŶƚŝŶƚŽĞĨĨĞĐƚŝŶKĐƚŽďĞƌϮϬϭϵ͘
hŶƚŝůĨŝƐĐĂůǇĞĂƌϮϬϭϵͲϮϬƐĂůĞƐƚĂǆƌĞǀĞŶƵĞƐŚĂĚŝŵƉƌŽǀĞĚŵĂƌŬĞĚůǇ͕ƉĞĂŬŝŶŐŝŶĨŝƐĐĂůǇĞĂƌϮϬϭϴͲϭϵĂƚΨϰϬ͘ϴŵŝůůŝŽŶ͘ dŚĞŽŶƐĞƚŽĨƚŚĞƉĂŶĚĞŵŝĐŝŶDĂƌĐŚϮϬϮϬƌĞƐƵůƚĞĚŝŶƐǁŝĨƚƌĞĚƵĐƚŝŽŶƐŝŶƐĂůĞƐƚĂǆƌĞǀĞŶƵĞƐĂŶĚƚŚĞĐŝƚǇĞŶĚĞĚƚŚĞ ǇĞĂƌǁŝƚŚΨϯϴŵŝůůŝŽŶŝŶƐĂůĞƐƚĂǆƌĞǀĞŶƵĞƐ͘ƵƌŝŶŐĨŝƐĐĂůǇĞĂƌϮϬϮϬͲϮϭ͕ŝŵƉĂĐƚƐŽĨKs/ͲϭϵŽŶƐĂůĞƐƚĂǆŐĞŶĞƌĂůůǇ ĐŽƌƌĞůĂƚĞĚǁŝƚŚƐŚĞůƚĞƌͲŝŶͲƉůĂĐĞŵĂŶĚĂƚĞƐ͘ƐƌĞƐƚƌŝĐƚŝŽŶƐǁĞƌĞůŝĨƚĞĚ͕ƌĞĐŽǀĞƌǇǁĂƐƌĞĂůŝǌĞĚĂƐĨŝƐĐĂůǇĞĂƌϮϬϮϬͲϮϭ ĞŶĚĞĚǁŝƚŚΨϰϰŵŝůůŝŽŶŝŶƐĂůĞƐƚĂǆƌĞǀĞŶƵĞƐ͘,ŽǁĞǀĞƌ͕ĨŝƐĐĂůǇ ĞĂƌϮϬϮϭͲϮϮĞǆƉĞƌŝĞŶĐĞĚƚŚĞŵŽƐƚĂĐĐĞůĞƌĂƚĞĚ ƌĞĐŽǀĞƌǇͶƚŚĞĐŝƚǇŝƐĞƐƚŝŵĂƚĞĚƚŽĞŶĚƚŚĞǇĞĂƌĂƚĂŚŝƐƚŽƌŝĐŚŝŐŚŽĨΨϱϬŵŝůůŝŽŶŝŶƐĂůĞƐƚĂǆƌĞǀĞŶƵĞƐ͘DƵĐŚŽĨƚŚŝƐ 21 April 4, 2023
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x ƐƉĂƌƚŽĨĂůW
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dƌĂŶƐĨĞƌƐŽƵƚŽĨƚŚĞ'ĞŶĞƌĂů&ƵŶĚĂƌĞďƵĚŐĞƚĞĚĂƚΨϭϯ͘ϲŵŝůůŝŽŶ ͕ĂΨϲ͘ϱŵŝůůŝŽŶŝŶĐƌĞĂƐĞĨƌŽŵƚŚĞƉƌŝŽƌĨŝƐĐĂůǇĞĂƌ͘dŚŝƐ ŝŶĐƌĞĂƐĞƌĞƐƵůƚĞĚĨƌŽŵĂƚĞŵƉŽƌĂƌǇŚĂůƚŽŶƚŚĞĂŶŶƵĂůĐĂƉŝƚĂůƉ ƌŽũĞĐƚĨƵŶĚŝŶŐƚƌĂŶƐĨĞƌƐŝŶĨŝƐĐĂůǇĞĂƌϮϬϮϬͲϮϭĚƵĞƚŽ ƵŶĐĞƌƚĂŝŶƚǇƐƵƌƌŽƵŶĚŝŶŐƚŚĞƉĂŶĚĞŵŝĐ͘

22 April 4, 2023
Item #5 Page 55 of 195
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ĚĚŝŶŐƚŽƚŚĞĂĚŽƉƚĞĚďƵĚŐĞƚŽĨΨϭϵϴ͘ϰŵŝůůŝŽŶĨŽƌƚŚĞ'ĞŶĞƌĂů&ƵŶĚ͕ĨƵŶĚƐǁŝůůďĞĐĂƌƌŝĞĚŽǀĞƌƚŽĨŝƐĐĂůǇĞĂƌϮϬϮϮͲϮϯ͗ ĂƉƉƌŽǆŝŵĂƚĞůǇΨϭϰ͘ϳŵŝůůŝŽŶŝŶƵŶƐƉĞŶƚĨŝƐĐĂůǇĞĂƌϮϬϮϭͲϮϮďƵĚŐ ĞƚĞĚĞǆƉĞŶĚŝƚƵƌĞƐĂŶĚĂƉƉƌŽǆŝŵĂƚĞůǇΨϭϮ͘ϮŵŝůůŝŽŶŝŶ ŽƉĞŶĞŶĐƵŵďƌĂŶĐĞƐĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϭ͘

ƵƌŝŶŐ ƚŚĞ ĐƵƌƌĞŶƚ ĨŝƐĐĂů ǇĞĂƌ͕ ƚŚĞ ƵŶĂƐƐŝŐŶĞĚ ĨƵŶĚ ďĂůĂŶĐĞ ŝŶƚŚĞ 'ĞŶĞƌĂů &ƵŶĚ ŝŶĐƌĞĂƐĞĚ ďǇ Ψϭϭ͘ϰ ŵŝůůŝŽŶ ƚŽ ΨϭϭϬ͘ϳŵŝůůŝŽŶ͘

WƌŽũĞĐƚĞĚƌĞǀĞŶƵĞƐĂƌĞĐƵƌƌĞŶƚůǇƐƵĨĨŝĐŝĞŶƚƚŽďƵŝůĚƚŚĞĂƉƉƌŽǀĞĚƉƌŽũĞĐƚƐůŝƐƚĞĚŝŶƚŚĞĨŝƐĐĂůǇĞĂƌϮϬϮϭͲϮϮ/W͘ dŚĞĐŝƚǇ͛ƐďƵƐŝŶĞƐƐͲƚǇƉĞĂĐƚŝǀŝƚŝĞƐƌĞĨůĞĐƚƚŚĞĨŽůůŽǁŝŶŐ͗
tĂƚĞƌƌĞǀĞŶƵĞƐĂƌĞĞǆƉĞĐƚĞĚƚŽŝŶĐƌĞĂƐĞĨƌŽŵƌĂƚĞŝŶĐƌĞĂƐĞƐƚĂƌ ƚŝŶŐDĂƌĐŚϮϬϮϮŝŶĂĚĚŝƚŝŽŶƚŽĂƐůŝŐŚƚŝŶĐƌĞĂƐĞŝŶ ĚĞŵĂŶĚĚƵĞƚŽĐƵƐƚŽŵĞƌŐƌŽǁƚŚǁŚŝĐŚŵĂǇĚĞĐƌĞĂƐĞďĂƐĞĚŽŶǁĂƚĞƌĐŽŶƐĞƌǀĂƚŝŽŶĞĨĨŽƌƚƐ͘
dŚĞĞĨĨĞĐƚŝǀĞŝŶĐƌĞĂƐĞŝŶƉƵƌĐŚĂƐĞĐŽƐƚƐĨŽƌDtŝƐƉƌŽũĞĐƚĞĚƚŽďĞĂƉƉƌŽǆŝŵĂƚĞůǇϱ͘ϱй͘dŚĞĐŽƐƚŽĨǁĂƚĞƌƉƵƌĐŚĂƐĞĚ ĨƌŽŵƚŚĞ^ĂŶŝĞŐŽŽƵŶƚǇtĂƚĞƌƵƚŚŽƌŝƚǇŝƐƉƌŽũĞĐƚĞĚƚŽŝŶĐƌĞĂƐĞĚƵĞƚŽŝŶĐƌĞĂƐĞƐŝŶDĞƚƌŽƉŽůŝƚĂŶtĂƚĞƌŝƐƚƌŝĐƚ͛Ɛ ǁĂƚĞƌƌĂƚĞƐ͘dŚŝƐǁĂƐŽĨĨƐĞƚďǇĂƌĞĨƵŶĚĨƌŽŵƐŚĂƌĞŽĨĚĂŵĂŐĞƐ ĂǁĂƌĚĞĚĨŽƌƵŶůĂǁĨƵůůǇĂƐƐĞƐƐĞĚƌĂƚĞƐŽĨΨϭ͘ϴŵŝůůŝŽŶ ĐŽŵďŝŶĞĚǁŝƚŚŵĂŝŶƚĂŝŶŝŶŐƌĞƐĞƌǀĞďĂůĂŶĐĞƐĚƵƌŝŶŐĨŝƐĐĂůǇĞĂƌϮϬϮϭͲϮϮ͘ƌĞĐĞŶƚĐŽƐƚŽĨƐĞƌǀŝĐĞƐƚƵĚǇƐĞƚƌĂƚĞŝŶĐƌĞĂƐĞƐ ďĞŐŝŶŶŝŶŐŝŶDĂƌĐŚϮϬϮϮƚŚƌŽƵŐŚϮϬϮϰďĂƐĞĚŽŶŝŶĐƌĞĂƐĞĚƉƵƌĐŚĂƐĞƌĂƚĞƐ͕ĐĂƉŝƚĂůƌĞƉĂŝƌĐŽƐƚƐĂŶĚŝŶĐƌĞĂƐĞƐƚŽĐŽƐƚŽĨ ŵĂƚĞƌŝĂůƐ͘

tĂƐƚĞǁĂƚĞƌƌĂƚĞƐŝŶĐƌĞĂƐĞĚϮϬйďĞŐŝŶŶŝŶŐŝŶDĂƌĐŚϮϬϮϮǁŝƚŚƉůĂŶŶĞĚŝŶĐƌĞĂƐĞƐďĂƐĞĚŽŶĂƌĞĐĞŶƚĐŽƐƚƐƚƵĚǇ͘dŚĞ ŝŶĐƌĞĂƐĞƐĂƌĞŶĞĞĚĞĚƚŽŝŶǀĞƐƚŝŶŵĂŝŶƚĂŝŶŝŶŐǁĂƐƚĞǁĂƚĞƌŝŶĨƌĂƐƚƌƵĐƚƵƌĞƚŚĂƚŚĂƐƌĞĂĐŚĞĚƚŚĞĞŶĚŽĨŝƚƐĞǆƉĞĐƚĞĚůŝĨĞĂŶĚ ŝŶĐƌĞĂƐĞƐŝŶĐŽƐƚŽĨŵĂƚĞƌŝĂůƐĂŶĚƐƵƉƉůŝĞƐŶĞĞĚĞĚƚŽŽƉĞƌĂƚĞƐǇƐƚĞŵƐ͘
^ŽůŝĚtĂƐƚĞƌĞǀĞŶƵĞƐĂƌĞƉƌŽũĞĐƚĞĚƚŽŝŶĐƌĞĂƐĞŵŽĚĞƌĂƚĞůǇ͕ĂŶĚƚŚĞĨƵŶĚĞǆƉĞĐƚƐƚŽƌƵŶĂƐůŝŐŚƚĚĞĨŝĐŝƚĚƵĞƚŽŝŶĐƌĞĂƐŝŶŐ ǁĂƐƚĞŵĂŶĂŐĞŵĞŶƚƌĞƋƵŝƌĞŵĞŶƚƐŝŵƉŽƐĞĚďǇƚŚĞƐƚĂƚĞ͘^ƵĨĨŝĐŝĞŶƚƌĞƐĞƌǀĞƐĂƌĞĂďůĞƚŽƐƵƐƚĂŝŶƚŚĞŝŶĐƌĞĂƐĞĐŽƐƚƐǁŝƚŚŽƵƚ ƐŝŐŶŝĨŝĐĂŶƚƉƌŝĐĞŝŶĐƌĞĂƐĞƐŝŶƚŚĞƐŚŽƌƚƚĞƌŵ͘

dŚĞ'ŽůĨŽƵƌƐĞ&ƵŶĚƉƌŽũĞĐƚĞĚĂƐůŝŐŚƚŝŶĐƌĞĂƐĞŝŶƌĞǀĞŶƵĞƐĨƌŽŵĂŶŝŶĐƌĞĂƐĞŝŶƌĂƚĞƐŝŶ:ƵůǇϮϬϮϮĨƵƌƚŚĞƌĚƌŝǀĞŶ ĐŽŶƚŝŶƵĞĚĚĞŵĂŶĚĂŶĚĂƌĞƚƵƌŶŽĨƉƌŝǀĂƚĞĞǀĞŶƚƐ͘ƐĂƌĞƐƵůƚ͕ƚŚĞŽƉĞƌĂƚŝŽŶĞǆƉĞĐƚĞĚƚŽĐŽŶƚŝŶƵĞƚŽƐĞĞŝŵƉƌŽǀĞŵĞŶƚƐ ŝŶƚŚĞŝƌĐĂƐŚĨůŽǁƐŐŽŝŶŐĨŽƌǁĂƌĚ͘

ŽŶƚĂĐƚŝŶŐƚŚĞŝƚǇ͛Ɛ&ŝŶĂŶĐŝĂůDĂŶĂŐĞŵĞŶƚ

dŚŝƐĨŝŶĂŶĐŝĂůƌĞƉŽƌƚŝƐĚĞƐŝŐŶĞĚƚŽƉƌŽǀŝĚĞƚŚĞƌĞƐŝĚĞŶƚƐ͕ƚĂǆ ƉĂǇĞƌƐ͕ĐƵƐƚŽŵĞƌƐ͕ŝŶǀĞƐƚŽƌƐ͕ĂŶĚĐƌĞĚŝƚŽƌƐǁŝƚŚĂŐĞŶĞƌĂů ŽǀĞƌǀŝĞǁŽĨƚŚĞĐŝƚǇ͛ƐĨŝŶĂŶĐĞƐĂŶĚƚŽĚĞŵŽŶƐƚƌĂƚĞƚŚĞĐŝƚǇ͛ƐĂ ĐĐŽƵŶƚĂďŝůŝƚǇĨŽƌƚŚĞŵŽŶĞǇŝƚƌĞĐĞŝǀĞƐ͘/ĨǇŽƵŚĂǀĞĂŶǇ ƋƵĞƐƚŝŽŶƐĂďŽƵƚƚŚŝƐƌĞƉŽƌƚŽƌŶĞĞĚĂĚĚŝƚŝŽŶĂůŝŶĨŽƌŵĂƚŝŽŶ͕ĐŽŶ ƚĂĐƚƚŚĞ&ŝŶĂŶĐĞĞƉĂƌƚŵĞŶƚ͕ϭϲϯϱ&ĂƌĂĚĂǇǀĞŶƵĞ͕ ĂƌůƐďĂĚ͕ĂůŝĨŽƌŶŝĂϵϮϬϬϴ͕ϰϰϮͲϯϯϵͲϮϰϯϬ͕ŽƌĨŝŶĚĂĚĚŝƚŝŽŶĂůŝŶĨŽƌŵĂƚŝŽŶĂƚǁǁǁ͘ĐĂƌůƐďĂĚĐĂ͘ŐŽǀ͘
23 April 4, 2023
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( City of
Carlsbad

24 April 4, 2023
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a y et an •

CITY OF CARLSBAD

STATEMENT OF NET POSITION
Governmental Business-Type
Activities Activities Total
Assets:

Cash and investments 614,626,048$ 193,144,796 $ 807,770,844 $ Receivables:

Accounts 1,838,626 12,951,740 14,790,366 Taxes 14,756,103 38,120 14,794,223 Notes and loans 24,430,300 - 24,430,300 Accrued interest 5,948,421 737,441 6,685,862 Leases 12,818,490 5,227,767 18,046,257
Other 1,410,454 658,697 2,069,151
Internal balances (1,624,476) 1,624,476 - Prepaid costs 2,611,446 138,167 2,749,613 Deposits 200,432 - 200,432 Due from other governments 1,135,702 1,703,213 2,838,915 Inventories 270,831 940,963 1,211,794 Land held for resale 1,633,816 - 1,633,816 Net OPEB asset 611,298 71,367 682,665 Capital assets:

Land 160,619,596 9,330,718 169,950,314
Construction in progress 36,891,555 17,436,454 54,328,009 Buildings and other structures 138,281,470 41,391,888 179,673,358 Improvements other than buildings 103,902,694 56,202,412 160,105,106 Machinery and equipment 56,253,190 14,007,845 70,261,035 Infrastructure 752,669,574 404,212,142 1,156,881,716 Wastewater treatment facility - 64,373,642 64,373,642 Intangible assets 6,483,648 - 6,483,648 Right-of-use assets 25,067 - 25,067 Less accumulated depreciation/amortization (446,589,445) (239,024,221) (685,613,666) Total capital assets 808,537,349 367,930,880 1,176,468,229 Total Assets 1,489,204,840 585,167,627 2,074,372,467 Deferred Outflows of Resources:

Deferred outflows of resources - pension related items 36,590,345 2,396,626 38,986,971 Deferred outflows of resources - OPEB related items 2,776,216 521,162 3,297,378 Total Deferred Outflows
of Resources 39,366,561 2,917,788 42,284,349 Liabilities:

Accrued liabilities 33,406,616 4,063,846 37,470,462 Accrued interest - 36,886 36,886 Unearned revenue 966,676 220,670 1,187,346 Deposits payable 8,344,345 1,101,216 9,445,561 Due to other governments 4,377 8,658,806 8,663,183 Estimated claims payable 16,909,815 - 16,909,815 Noncurrent liabilities:

Net pension liability 72,807,703 4,815,423 77,623,126 Due within one year 2,331 1,698,146 1,700,477 Due in more than one year 20,046 10,745,391 10,765,437 Total Liabilities 132,461,909 31,340,384 163,802,293 Deferred Inflows of Resources:

Deferred inflows of resources - pension related items 59,156,694 5,000,382 64,157,076 Deferred inflows of resources - OPEB related items 2,904,470 405,483 3,309,953 Deferred inflows of resources - lease related items 12,631,620 5,137,227 17,768,847 Total Deferred Inflows
of Resources 74,692,784 10,543,092 85,235,876 Net Position:

Net investment in capital assets 808,514,972 355,487,343 1,164,002,315 Restricted for:

Affordable housing 41,413,098 - 41,413,098 Community services 4,800,600 - 4,800,600 Lighting and landscape districts 9,635,449 - 9,635,449 General government 806,261 - 806,261 Public safety 646,543 - 646,543 Capital projects 191,966,807 38,948,782 230,915,589 Unrestricted 263,632,978 151,765,814 415,398,792 Total Net Position 1,321,416,708$ 546,201,939 $ 1,867,618,647 $ JUNE 30, 2022
Primary Government
See Notes to Financial Statement.
25 April 4, 2023
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CITY OF CARLSBAD

STATEMENT OF ACTIVITIES
YEAR ENDED JUNE 30, 2022
Operating Capital
Charges for Contributions Contributions
Expenses Services and Grants and Grants
Functions/Programs
Primary Government:

Governmental Activities:

General government 14,806,007$ 626,894$ 7,250,233$ 301,514$ Public safety 81,129,635 5,899,478 653,447 - Community services 58,953,827 8,670,737 12,259,274 342,149 Public works 39,204,155 4,246,837 218,816 9,278,762 Interest on long-term debt 14,535 - - - Total Governmental Activities 194,108,159 19,443,946 20,381,770 9,922,425 Business-Type Activities:

Carlsbad Municipal Water District 53,597,583 49,193,720 170,432 499,460 SGolf Course 11,708,230 10,424,281 - - SWastewater 17,905,503 16,282,173 2,287 358,072 Solid Waste 4,737,745 3,684,383 10,265 - Total Business-Type Activities 87,949,061 79,584,557 182,984 857,532 Total Primary Government 282,057,220$ 99,028,503$ 20,564,754$ 10,779,957$ General Revenues:

Taxes:

Property taxes, levied for general purpose
Transient occupancy taxes
Sales taxes
Franchise taxes
Real property transfer taxes
Business license taxes
Use of money and property
Other
Transfers
Total General Revenues,
and Transfers
Change in Net Position
Net Position at Beginning of Year
Net Position at End of Year
Program Revenues
See Notes to Financial Statement.
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Primary Government
Governmental Business-Type
Activities Activities Total
(6,627,366)$ - $ (6,627,366)$ (74,576,710) - (74,576,710) (37,681,667) - (37,681,667) (25,459,740) - (25,459,740) (14,535) - (14,535) (144,360,018) - (144,360,018) - (3,733,971) (3,733,971) - (1,283,949) (1,283,949) - (1,262,971) (1,262,971) - (1,043,097) (1,043,097) - (7,323,988) (7,323,988) (144,360,018) (7,323,988) (151,684,006)
81,012,174 4,715,280 85,727,454
32,402,771 - 32,402,771 51,175,423 - 51,175,423 6,370,942 - 6,370,942 2,178,717 - 2,178,717 6,619,296 - 6,619,296 (22,062,942) (7,656,356) (29,719,298)
1,261,864 2,257,871 3,519,735
(1,315,748) 1,315,748 -
157,642,497 632,543 158,275,040
13,282,479 (6,691,445) 6,591,034
1,308,134,229 552,893,384 1,861,027,613
1,321,416,708$ 546,201,939 $ 1,867,618,647 $
Net (Expenses) Revenues and Changes in Net Position
See Notes to Financial Statement.
27 April 4, 2023
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CITY OF CARLSBAD

BALANCE SHEET

GOVERNMENTAL FUNDS
JUNE 30, 2022
General
Assets:

Pooled cash and investments 158,349,259$ 12,127,754$ 92,158,241$ 113,950,826$ Receivables:

Accounts 365,966 1,429,966 6,892 - Taxes 14,754,343 - 1,760 - Notes and loans 947,196 - - - Accrued interest 818,174 46,248 353,108 434,546 Leases 8,294,960 - 1,425,458 - Other 1,158,590 - - - Prepaid costs 50,968 - - - Deposits 200,432 - - - Due from other governments 162,706 - - - Advances to other funds 1,203,163 - 1,397,070 - Inventories 10,113 - - - Land held for resale - - - - Total Assets 186,315,870 $ 13,603,968 $ 95,342,529 $ 114,385,372$ Liabilities, Deferred inflows of Resources,
and Fund Balances:

Liabilities:

Accrued liabilities 7,234,929$ 13,059,041$ 110,788$ 1,220,866$ Unearned revenues 964,728 - - - Deposits payable 7,827,395 - 13,000 - Due to other governments - - - - Advances from other funds - - - - Total Liabilities 16,027,052 13,059,041 123,788 1,220,866 Deferred inflows of resources:

Unavailable revenues 11,563 1,429,966 - - Lease related items 8,138,644 - 1,395,219 - Total Deferred inflows of Resources 8,150,207 1, 429,966 1,395,219 - Fund Balances:

Nonspendable:

Inventory 10,113 - - - Prepaid costs 50,968 - - - Notes and loans 947,196 - - - Advances to other funds 1,203,163 - - - Restricted for:

Affordable, low and moderate income housing - - - - Community services - - - - Lighting and landscaping districts - - - - General government - - - - Public safety - - - - Capital projects - - 93,823,522 - Committed to:

Community activity grants 1,000,000 - - - Assigned to:

Capital Projects - - - 113,164,506 General government 1,845,805 - - - Public safety 7,474,873 - - - Community services 5,043,458 - - - Public works 3,269,071 - - - Deposits 9,103,528 - - - Fleet maintenance 1,400,000 - - - Risk management 1,000,000 - - - Workers' compensation 8,208,252 - - - Safer streets local emergency 2,000,000 - - - Economic uncertainty 9,635,909 - - - Unassigned 109,946,275 ( 885,039) - - Total Fund Balances 162,138,611 ( 885,039) 93,823,522 113,164,506 Total Liabilities, deferred inflows of
resources, and Fund Balances 186,315,870$ 13,603,968 $ 95,342,529 $ 114,385,372$ Capital Projects Funds
Bridge
Thoroughfare
Districts (BTD)
Community
Facilities
District #1
Infrastructure
Replacement
Fund
See Notes to Financial Statement.
28 April 4, 2023
Item #5 Page 61 of 195

CITY OF CARLSBAD

BALANCE SHEET

GOVERNMENTAL FUNDS
JUNE 30, 2022
Assets:

Pooled cash and investments
Receivables:

Accounts
Taxes
Notes and loans
Accrued interest
Leases
Other
Prepaid costs
Deposits
Due from other governments
Advances to other funds
Inventories
Land held for resale
Total Assets
Liabilities, Deferred inflows of Resources,
and Fund Balances:

Liabilities:

Accrued liabilities
Unearned revenues
Deposits payable
Due to other governments
Advances from other funds
Total Liabilities
Deferred inflows of resources:

Unavailable revenues
Lease related items
Total Deferred inflows of Resources
Fund Balances:

Nonspendable:

Inventory
Prepaid costs
Notes and loans
Advances to other funds
Restricted for:

Affordable, low and moderate income housing
Community services
Lighting and landscaping districts
General government
Public safety
Capital projects
Committed to:

Community activity grants
Assigned to:

Capital Projects
General government
Public safety
Community services
Public works
Deposits
Fleet maintenance
Risk management
Workers' compensation
Safer streets local emergency
Economic uncertainty
Unassigned
Total Fund Balances
Total Liabilities, deferred inflows of
resources, and Fund Balances
Other Total
Governmental Governmental
Funds Funds
187,128,465$ 563,714,545 $
22,996 1,825,820
- 14,756,103
23,483,104 24,430,300
4,124,581 5,776,657
3,098,072 12,818,490
251,864 1,410,454
157,235 208,203
- 200,432
972,996 1,135,702
5,650,000 8,250,233
3,460 13,573
1,633,816 1,633,816
226,526,589$ 636,174,328 $
4,291,259$ 25,916,883 $
1,948 966,676
501,982 8,342,377
4,377 4,377
8,250,233 8,250,233
13,049,799 43,480,546
3,605,550 5,047,079
3,097,757 12,631,620
6,703,307 17,678,699
3,460 13,573
157,235 208,203
- 947,196
- 1,203,163
41,413,098 41,413,098
4,800,600 4,800,600
9,635,449 9,635,449
806,261 806,261
646,543 646,543
98,143,285 191,966,807
- 1,000,000
51,184,119 164,348,625
- 1,845,805
- 7,474,873
- 5,043,458
- 3,269,071
- 9,103,528
- 1,400,000
- 1,000,000
- 8,208,252
- 2,000,000
- 9,635,909
(16,567) 109,044,669
206,773,483 575,015,083
226,526,589$ 636,174,328 $
See Notes to Financial Statement.
29 April 4, 2023
Item #5 Page 62 of 195

30 April 4, 2023
Item #5 Page 63 of 195

CITY OF CARLSBAD

RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS

TO THE STATEMENT OF NET POSITION
JUNE 30, 2022
Amounts reported for governmental activities in the statement of net position are different because:

Total fund balances - governmental funds 575,015,083$
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds.

Capital assets, not being depreciated 197,360,455
Capital assets, being depreciated 1,017,231,025
Right to use leased assets 25,067
Less: accumulated depreciation/amortization (427,334,988) 787,281,559 Long-term liabilities that are not due and payable in the current period, and therefore, are not reported in the funds.

Net pension liability (70,084,572)
Net OPEB asset 558,119
Lease liability (22,377) (69,548,830)
Difference between expected and actual experiences, assumptions changes and net differences between projected and actual earnings and contributions subsequent to the measurement date for the postretirement benefits (pension and OPEB) are recognized as deferred outflows of resources and deferred inflows of resources on the statement of position.

Deferred outflows - pension related 35,235,047
Deferred outflows - OPEB related 2,626,883
Deferred inflows - pension related (56,328,967)
Deferred inflows - OPEB related (2,687,301) (21,154,338) Revenues reported as unavailable revenue in the governmental funds are recognized in the statement of activities. 5,047,079
Internal service funds are used by management to charge the costs of certain activities, such as equipment and technology replacement, to individual funds.

The assets and liabilities of the internal service funds must be added to the statement of net position. 44,776,155
Net Position of Governmental Activities 1,321,416,708$
See Notes to Financial Statement.
31 April 4, 2023
Item #5 Page 64 of 195

CITY OF CARLSBAD

STATEMENT OF REVENUES,

EXPENDITURES AND CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2022
General
Revenues:

Taxes 178,762,522$ - $ 996,801$ -$ Licenses and permits 3,233,321 - - - Intergovernmental 7,868,957 - - - Contribution from property owners - - 459,861 - Charges for services 9,828,529 - - - Use of money and property (5,570,530) (518,574) (3 ,743,035) (4,882,683) Fines and forfeitures 342,948 - - - Contributions 26,226 - - - Miscellaneous 1,187,314 - - - Total Revenues 195,679,287 ( 518,574) (2 ,286,373) (4, 882,683) Expenditures:

Current:

General government 21,995,629 - 58,064 - Less: interdepartmental charges (5,314,617) - - - Public safety 81,961,117 - - - Community services 44,972,128 - - - Public works 20,131,996 - - - Capital outlay 2,719,612 13,059,041 542,022 6,701,080 Debt service:

Principal retirement 2,690 - - - Interest and fiscal charges - - - - Total Expenditures 166,468,555 13,059,041 600,086 6,701,080 Excess (Deficiency) of Revenues
Over (Under) Expenditures 29,210,732 ( 13,577,615) (2,886,459) ( 11,583,763) Other Financing Sources (Uses):

Transfers in 10,000 - - 383,800 Transfers out (26,927,804) - - - Proceeds from sale of capital asset - - - - Proceeds from leases 25,067 - - - Total Other Financing Sources
(Uses) (26,892,737) - - 383,800 Net Change in Fund Balances 2,317,995 ( 13,577,615) (2,886,459) ( 11,199,963) Fund Balances, Beginning of Year 159,820,616 12,692,576 96,709,981 124,364,469 Fund Balances, End of Year 162,138,611$ (885,039)$ 93,823,522$ 113,164,506$ Capital Projects Funds
Bridge
Thoroughfare
Districts (BTD)
Community
Facilities
District #1
Infrastructure
Replacement
Fund
See Notes to Financial Statement.
32 April 4, 2023
Item #5 Page 65 of 195

CITY OF CARLSBAD

STATEMENT OF REVENUES,

EXPENDITURES AND CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2022

Revenues:

Taxes
Licenses and permits
Intergovernmental
Contribution from property owners
Charges for services
Use of money and property
Fines and forfeitures
Contributions
Miscellaneous
Total Revenues
Expenditures:

Current:

General government
Less: interdepartmental charges
Public safety
Community services
Public works
Capital outlay
Debt service:

Principal retirement
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses):

Transfers in
Transfers out
Proceeds from sale of capital asset
Proceeds from leases
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
Other Total
Governmental Governmental
Funds Funds
5,073,071$ 184,832,394$
- 3,233,321
13,064,283 20,933,240
2,739,702 3,199,563
5,130,988 14,959,517
(5,403,362) (20,118,184)
2,672 345,620
354,157 380,383
74,550 1,261,864
21,036,061 209,027,718
378,918 22,432,611
- (5,314,617)
263,971 82,225,088
14,519,101 59,491,229
1,924,494 22,056,490
23,992,646 47,014,401
- 2,690
14,535 14,535
41,093,665 227,922,427
(20,057,604) (18,894,709)
25,579,968 25,973,768
(260,912) (27,188,716)
199,679 199,679
- 25,067
25,518,735 (990,202)
5,461,131 (19,884,911)
201,312,352 594,899,994
206,773,483$ 575,015,083 $
See Notes to Financial Statement.
33 April 4, 2023
Item #5 Page 66 of 195

34 April 4, 2023
Item #5 Page 67 of 195

CITY OF CARLSBAD

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,

AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS

TO THE STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2022
Amounts reported for governmental activities in the statement of activities are different because:

Net change in fund balances - total governmental funds (19,884,911)$ Governmental funds report capital outlays as expenditures. However, in the statement of activities, the cost of these assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays was less than depreciation expense in the current period.

Capital outlay 41,874,701$
Loss on disposal of capital assets (1,487,736)
Depreciation/amortization (22,824,158) 17,562,807 Some expenses reported in the statement of activities do not require the use of current financial resources and therefore, are not reported as expenditures in the governmental funds.

Changes in pension liabilities and related deferred outflows and inflows of resources 15,729,318 Changes in OPEB assets and related deferred outflows and inflows of resources 507,949 16,237,267 Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds. 382,169
Internal service funds are used by management to charge the costs of certain activities, such as equipment and technology replacement, to individual funds.

The net revenues of the internal service funds are reported with governmental activities. (1,014,853)
Change in Net Position of Governmental Activities 13,282,479$ See Notes to Financial Statement.
35 April 4, 2023
Item #5 Page 68 of 195

CITY OF CARLSBAD

STATEMENT OF NET POSITION

PROPRIETARY FUNDS
JUNE 30, 2022
Governmental
Other Activities-
Enterprise Internal
Funds Totals Service Funds
Assets:

Current:

Cash and investments 133,925,207 41,795,736 17,423,853 $ 193,144,796$ 50,911,503 $ Receivables:

Accounts, net of allowances 8,878,454 3,065,451 1,007,835 12,951,740 12,806 Taxes 38,120 - - 38,120 - Accrued interest 517,111 159,386 60,944 737,441 171,764 Lease 154,627 - 55,813 210,440 - Other - - 658,697 658,697 - Prepaid costs 54,666 - 83,501 138,167 2,403,243 Due from other governments 1,060,813 642,400 - 1,703,213 - Inventories 747,478 17,366 176,119 940,963 257,258 Total Current Assets 145,376,476 45,680,339 19,466,762 210,523,577 53,756,574 Noncurrent:

Net OPEB asset 43,801 23,776 3,790 71,367 53,179 Lease receivable 3,716,647 - 1,300,680 5,017,327 - Capital assets
Land 1,914,871 2,629,102 4,786,745 9,330,718 - Construction in progress 2,586,907 14,842,916 6,631 17,436,454 150,696 Buildings and other structures 21,221,437 - 20,170,451 41,391,888 - Improvements other than buildings 5,006,736 7,134,824 44,060,852 56,202,412 - Machinery and equipment 10,989,380 1,081,858 1,936,607 14,007,845 37,203,714 Infrastructure 263,641,244 140,570,898 404,212,142 - Wastewater treatment facility - 64,373,642 64,373,642 - Intangible assets - - - 3,155,837 Less accumulated depreciation (102,391,484) (89,373,278) (47,259,459) (239,024,221) (19,254,457) Total capital assets (net of accumulated depreciation) 202,969,0 91 141,259,962 23,701,827 367,930,880 21,255,790 Total Noncurrent Assets 206,729,539 141,283,738 25,006,297 373,019,574 21,308,969 Total Assets 352,106,015 186,964,077 44,473,059 583,543,151 75,065,543 Deferred Outflows of Resources:

Deferred outflows of resources - pension related items 1,428,557 629,681 338,388 2,396,626 1,355,298 Deferred outflows of resources - OPEB related items 373,738 86,954 60,470 521,162 149,333 Total Deferred Outflows of Resources 1,802,295 716,635 398,858 2,917,788 1,504,631 Business-Type Activities - Enterprise Funds
Carlsbad
Municipal
Water District Wastewater
See Notes to Financial Statement.
36 April 4, 2023
Item #5 Page 69 of 195

CITY OF CARLSBAD

STATEMENT OF NET POSITION

PROPRIETARY FUNDS
JUNE 30, 2022
Governmental
Other Activities-
Enterprise Internal
Funds Totals Service Funds
Business-Type Activities - Enterprise Funds
Carlsbad
Municipal
Water District Wastewater
Liabilities:

Current:

Accrued liabilities 1,474,092 811,377 1,778,377 4,063,846 7,489,733 Accrued interest 36,886 - - 36,886 - Due to other governments 7,599,425 1,059,381 - 8,658,806 - Accrued claims and judgments - - - - 16,909,815 Loans payable 1,698,146 - - 1,698,146 - Total Current Liabilities 10,808,549 1,870,758 1,778,377 14,457,684 24,399,548 Noncurrent:

Unearned revenues - 10,000 210,670 220,670 - Deposits payable 102,157 271,671 727,388 1,101,216 1,968 Net pension liability 2,870,329 1,265,187 679,907 4,815,423 2,723,131 Loans payable 10,745,391 - - 10,745,391 - Total Noncurrent Liabilities 13,717,877 1,546,858 1,617,965 16,882,700 2,725,099 Total Liabilities 24,526,426 3,417,616 3,396,342 31,340,384 27,124,647 Deferred Inflows of Resources:

Deferred inflows of resources - pension related items 2,980,577 1,313,783 706,022 5,000,382 2,827,727 Deferred inflows of resources - OPEB related items 256,825 82,167 66,491 405,483 217,169 Deferred inflows of resources - lease related items 3,802,242 - 1,334,985 5,137,227 - Total Deferred Inflows of Resources 7,039,644 1,395,950 2,107,498 10,543,092 3,044,896 Net Position:

Invested in capital assets 190,525,554 141,259,962 23,701,827 355,487,343 21,255,790 Restricted for capital projects 34,962,767 3,986,015 - 38,948,782 - Unrestricted 96,853,919 37,621,169 15,666,250 150,141,338 25,144,841 Total Net Position 322,342,240 182,867,146 39,368,077 544,577,463 46,400,631 Reconciliation of Net Position to the Statement of Net Position Net Position per Statement of Net Position - Proprietary Funds 5 44,577,463$ Prior years' accumulated adjustment to reflect the consolidation of internal service funds activities related to the enterprise funds 1,633,391 Current years' adjustments to reflect the consolidation of internal service activities related to enterprise funds 8,915
Net Position per Statement of Net Position 546,219,769$ See Notes to Financial Statement.
37 April 4, 2023
Item #5 Page 70 of 195

CITY OF CARLSBAD

STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN FUND NET POSITION

PROPRIETARY FUNDS
YEAR ENDED JUNE 30, 2022
Governmental
Other Activities-
Enterprise Internal
Funds Totals Service Funds
Operating Revenues:

Sales and service charges 48,678,034$ -$ -$ 48,678,034$ -$ Wastewater service charges - 16, 282,173 - 16,282,173 - Miscellaneous 1,893,698 90,514 272,404 2,256,616 1,016,078 Golf course operations - - 10,424,281 10,424,281 - Other charges for services 515,686 - 3,684,383 4,200,069 29,216,246 Total Operating Revenues 51,087,418 16,372,687 14,381,068 81,841,173 30,232,324 Operating Expenses:

Administration and general 17,415,553 9,583,926 5,016,534 32,016,013 13,719,853 Encina plant operations 1,322,840 3,734,928 - 5,057,768 - Purchased water 28,108,107 - - 28,108,107 - Claims expense - - - - 10,988,610 Depreciation expense 6,489,394 4,584,296 3,401,019 14,474,709 3,412,501 Golf course operations - - 8,027,121 8,027,121 - Fuel and supplies - - - - 1,716,709 Small equipment purchases - - - - 722,307 Total Operating Expenses 53,335,894 17,903,150 16,444,674 87,683,718 30,559,980 Operating Income (Loss) (2,248,476) (1,530,463) (2,063,606) (5,842,545) (327,656) Nonoperating Revenues (Expenses):

Taxes 4,715,280 - - 4,715,280 - Intergovernmental 170,432 2,287 10,265 182,984 1,072 Interest revenue 80,162 - 27,183 107,345 - Interest expense (256,428) - - (256,428) - Contributions - - - - 1,040,506 Income (loss) from property and investments (5,393,462) (1,798,526) (579,906) (7,771,894) (1,944,758) Gain (loss) on disposal of capital assets - - - - 307,868 Total Nonoperating
Revenues (Expenses) (684,016) (1,796,239) (5 42,458) (3,022,713) (595,312) Income (Loss) Before transfers and capital contributions (2,932,492) (3,326,702) (2,606,064) (8,865,258) (922,968) Transfers in 1,048,262 - 322,000 1,370,262 - Transfers out - (46,534) (7,980) (54,514) (100,800) Capital contibutions
Capital restricted fees and grants 237,254 221,836 - 459,090 - Developer constructed assets 262,206 145,684 - 407,890 - Changes in Net Position (1,384,770) (3,005,716) (2,292,044) (6,682,530) (1,023,768) Net Position:

Beginning of Year 323,727,010 185,872,862 41,660,121 551,259,993 47,424,399 End of Fiscal Year 322,342,240$ 182,867,146 $ 39,368,077 $ 544,577,463 $ 46,400,631$ Reconciliation of Changes in Net Position to the Statement of Activities:

Changes in Net Position, per the Statement of Revenues, Expenses and Changes in Fund Net Position - Proprietary Funds (6,682,530)$ Adjustment to reflect the consolidation of current fiscal year internal service funds activities related to enterprise funds (8,915) Changes in Net Position of Business-Type Activities per Statement of Activities (6,691,445)$ Business-Type Activities - Enterprise Funds
Carlsbad
Municipal
Water District Wastewater
See Notes to Financial Statement.
38 April 4, 2023
Item #5 Page 71 of 195

CITY OF CARLSBAD

STATEMENT OF CASH FLOWS

PROPRIETARY FUNDS
YEAR ENDED JUNE 30, 2022
Governmental
Other Activities-
Enterprise Internal
Funds Totals Service Funds
Cash Flows from Operating Activities:

Cash received from customers and users 48,710,496 $ 17,756,279 $ 14,142,996 $ 80,609,771 $ - $ Cash received from/(paid to) interfund service provided - - - - 29,208,546 Cash paid to suppliers for goods and services (36,346,795) (14,769,890) (8,244,715) (59,361,400) (2,643,809) Cash paid to employees for services (12,283,385) (2,511,154) (5,009,676) (19,804,215) (14,613,111) Claims and premiums paid - - - - (8,224,816) Cash received from (payments to) others 1,893,698 90,514 272,404 2,256,616 1,016,078 Net Cash Provided (Used) by Operating Activities 1,974,014 565,749 1,161,009 3,700,772 4,742,888 Cash Flows from Non-Capital
Financing Activities:

Cash transfers in 1,048,262 - 322,000 1,370,262 (100,800) Cash transfers out - (46,534) (7,980) (54,514) - Repayment received from other funds 1,048,262 - - 1,048,262 - Repayment made to other funds - (46,534) (7,980) (54,514) - Contributions 170,432 - - 170,432 - Net Cash Provided (Used) by
Non-Capital Financing Activities 2,266,956 (93,068) 306,040 2,479,928 (100,800) Cash Flows from Capital
and Related Financing Activities:

Proceeds from capital debt 352,459 - - 352,459 - Capital contributions 262,206 367,520 - 629,726 1,061,329 Acquisition and construction of capital assets (4,542,892) (2,594,621) (38,118) (7,175,631) (5,032,311) Principal paid on capital debt (1,658,821) - - (1,658,821) - Interest paid on capital debt (263,818) - - (263,818) - Capital grants 1,783,823 - 10,265 1,794,088 1,072 Property taxes received 4,707,134 - - 4,707,134 - Proceeds from sales of capital assets - - - - 307,868 Lease items (69,032) - (21,508) (90,540) - Net Cash Provided (Used) by
Capital and Related Financing Activities 571,059 (2,227,101) (49,361) (1,705,403) (3,662,042) Investment earnings (5,357,851) (1,799,891) (558,765) (7,716,507) (1,974,277) Net Cash Provided (Used) by
Investing Activities (5,357,851) (1,799,891) (558,765) (7,716,507) (1,974,277) Net Increase (Decrease) in Cash
and Cash Equivalents (545,822) (3,554,311) 858,923 (3,241,210) (994,231) Cash and Cash Equivalents at Beginning of Year 134,471,029 45,350,047 16,564,930 196,386,006 51,905,734 Cash and Cash Equivalents at End of Year 133,925,207 $ 41,795,736 $ 17,423,853 $ 193,144,796 $ 50,911,503 $ Income (Loss) Before transfers and capital contributions Reconciliation of Operating Income to Net Cash
Provided (Used) by Operating Activities:

Operating income (loss) (2,248,476)$ (1,530,463)$ (2,063,606)$ (5,842,545)$ (327,656)$ Capital contibutions
Cash Flows from Investing Activities:

Adjustments to reconcile operating income (loss)
net cash provided (used) by operating activities:

Depreciation 6,489,394 4,584,296 3,401,019 14,474,709 3,412,501 (Increase) decrease in accounts receivable (482,691) (744,148) (148,011) (1,374,850) (7,700) (Increase) decrease in inventories (89,481) (2,848) (35,407) (127,736) 74,810 (Increase) decrease in due from other governments - 2,302,760 - 2,302,760 - (Increase) decrease in prepaid expense (12,763) 171 (20,961) (33,553) (276,247) Increase (decrease) in accrued liabilities (8,136,444) (2,410,448) (161,226) (10,708,118) 109,223 Increase (decrease) in due to other governments 7,511,993 (1,085,495) - 6,426,498 - Increase (decrease) in deposits payable (533) (84,506) 246,382 161,343 - Increase (decrease) in unearned revenue - - 182,343 182,343 Increase (decrease) in OPEB liability 167,050 231,804 72,389 471,243 383,419 Increase (decrease) in pension liability (1,224,035) (695,374) (311,913) (2,231,322) (1,389,256) Increase (decrease) in claims and judgments - - - - 2,763,794 Total Adjustments 4,222,490 2,096,212 3,224,615 9,543,317 5,070,544 Net Cash Provided (Used) by
Operating Activities 1,974,014$ 565,749$ 1,161,009$ 3,700,772$ 4,742,888$ Business-Type Activities - Enterprise Funds
Carlsbad
Municipal
Water District Wastewater
See Notes to Financial Statement.
39 April 4, 2023
Item #5 Page 72 of 195

CITY OF CARLSBAD

STATEMENT OF FIDUCIARY NET POSITION

FIDUCIARY FUNDS
JUNE 30, 2022
Custodial
Funds
Assets:

Current assets:

Pooled cash and investments 9,286,471$ 1,180,420$
Receivables:

Assessments 27,806 -
Accrued interest 54,510 4,501
Noncurrent assets:

Loans receivable - 4,504,261
Restricted assets:

Cash and investments 4,683,715 -
Total Assets 14,052,502 5,689,182
Liabilities:

Accrued liabilities 31,988 -
Accrued interest - 34,450
Long-term liabilities:

Due in one year - 950,000
Due in more than one year - 1,000,000 Total Liabilities 31,988 1,984,450
Net Position:

Restricted for:

Individuals, organizations and other governments 14,020,514 - Redevelopment obligation retirement purposes - 3,704,732 Total Net Position 14,020,514$ 3,704,732 $
Private
Purpose Trust
Fund
See Notes to Financial Statements.
40 April 4, 2023
Item #5 Page 73 of 195

CITY OF CARLSBAD

STATEMENT OF CHANGES IN FIDUCIARY NET POSITION

FIDUCIARY FUNDS
YEAR ENDED JUNE 30, 2022
Custodial
Funds
Additions:

Taxes 1,373,266$ 848,207$
Interest on housing loans - 112,502 Income (loss) from property and investments (346,443) (57,857) Assessment district collections 10,374,305 -
Total Additions 11,401,128 902,852
Deductions:

Distributions to beneficiaries 3,151,352 -
Administrative expenses 163,951 7,284
Bond interest expense and fees 1,662,438 113,515 Principal expense 3,610,000 -
Total Deductions 8,587,741 120,799
Changes in Net Position 2,813,387 782,053
Net Position - Beginning of the Year 11,207,127 2,922,679 Net Position - End of the Year 14,020,514$ 3,704,732 $ Private
Purpose Trust
Fund
See Notes to Financial Statements.
41 April 4, 2023
Item #5 Page 74 of 195

42 April 4, 2023
Item #5 Page 75 of 195
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85 April 4, 2023
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86 April 4, 2023
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CITY OF CARLSBAD

BUDGETARY COMPARISON STATEMENT

GENERAL FUND
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 159,820,616$ 159,820,616$ 159,820,616$ -$ Resources (Inflows):

Taxes 151,814,000 151,814,000 178,762,522 26,948,522 Licenses and permits 1,465,000 1,465,000 3,233,321 1,768,321 Intergovernmental 7,928,763 8,154,091 7,868,957 (285,134) Charges for services 6,210,000 6,466,374 9,828,529 3,362,155 Use of money and property 4,894,125 4,894,925 (5,570,530) (10,465,455) Fines and forfeitures 406,000 406,000 342,948 (63,052) Contributions 46,000 46,000 26,226 (19,774) Miscellaneous 834,025 966,332 1,187,314 220,982 Transfers in 10,000 10,000 10,000 - Amounts Available for Appropriation 333,428,529 334,043,338 355,534,970 21,491,632 Charges to Appropriation (Outflow):

General government 23,968,509 27,200,469 21,995,629 5,204,840 Less: interdepartmental charges (5,206,349) (5,216,349) (5,314,617) 98,268 Public safety 81,396,279 86,935,883 81,961,117 4,974,766 Community services 50,023,648 55,234,846 44,972,128 10,262,718 Public works 21,163,968 25,051,317 20,131,996 4,919,321 Capital outlay 882,285 3,091,620 2,719,612 372,008 Transfers out 7,148,000 26,927,804 26,927,804 - Total Charges to Appropriations 179,376,340 219,225,590 193,396,359 25,829,231 Budgetary Fund Balance, June 30 154,052,189$ 114,817,748$ 162,138,611$ 47,320,863$ 87 April 4, 2023
Item #5 Page 120 of 195

CITY OF CARLSBAD

AGENT MULTIPLE-EMPLOYER MISCELLANEOUS PLAN

SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY/(ASSET) AND RELATED RATIOS AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1)
Fiscal year 2022 2021 2020 2019
Measurement period ended June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 Total Pension Liability
Service cost 8,267,207$ 7,748,623$ 7,393,365$ 7,642,062$ Interest on total pension liability 29,773,920 28,392,127 27,175,110 25,874,546 Differences between expected and actual experience 3,459,759 1,167,225 2,338,341 (3,023,977) Changes in assumptions - - - (2,662,243) Benefit payments, including refunds of employee contributions (21,477,657) (19,590,424) (18,193,803) (16,887,970) Net change in total pension liability 20,023,229 17,717,551 18,713,013 10,942,418 Total pension liability - beginning 419,563,912 401,846,361 383,133,348 372,190,930 Total pension liability - ending (a) 439,587,141 419,563,912 401,846,361 383,133,348 Plan Fiduciary Net Position
Contributions - employer 16,551,765 10,637,969 17,745,975 22,114,923 Contributions - employee 3,436,290 3,338,003 3,040,423 3,005,761 Net investment income 74,476,234 15,901,834 19,551,424 22,720,698 Benefit payments (21,477,657) (19,590,424) (18,193,803) (16,887,970) Administration Expense (331,533) ( 454,014) ( 213,503) (1,218,072) Net change in plan fiduciary net position 72,655,099 9,833,368 21,930,516 29,735,340 Plan fiduciary net position - beginning 331,885,303 322,051,935 300,121,419 270,386,079 Plan fiduciary net position - ending (b) 404,540,402 331,885,303 322,051,935 300,121,419 Net pension liability/(asset) - ending (a)-(b) = (c) 35,046,739$ 87,678,609 $ 79,794,426 $ 83,011,929 $

92.03% 79.10% 80.14% 78.33%
Covered Payroll (d) 43,884,424$ 42,138,677$ 39,130,545$ 36,214,870$ Net pension liability/(asset) as a percentage of Covered Payroll (c/d) 79.86% 208.07% 203.92% 229.22% Notes to Schedule:

Benefit Changes:

Change of Assumptions:

Plan fiduciary net position as a percentage of the total pension liability/(asset) (b/a)
The figures above do not include any liability impact that may have resulted from plan changes which occurred after the June 30, 2020 valuation date. This applies for voluntary benefit changes, as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).

None in 2019-2021. In 2018, demographic assumptions and inflation rate were changed in accordance to the CalPERS Experience Study and Review of Actuarial Assumptions December 2017. There were no changes in the discount rate. In 2017, the discount rate was reduced from

7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense.) In 2014, amounts reported were based on the 7.5 percent discount rate.
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore, only eight years are shown.
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2018 2017 2016 2015
June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 7,836,970$ 6,836,445$ 6,674,982$ 6,908,307$ 25,085,808 24,192,948 23,142,961 21,793,340 (3,079,012) (2,605,228) 1,300,520 -
20,988,178 - (5, 737,798) - (15,327,609) (14,344,528) (12,791,734) (11,614,664) 35,504,335 14,079,637 12,588,931 17,086,983 336,686,595 322,606,958 310,018,027 292,931,044 372,190,930 336,686,595 322,606,958 310,018,027 14,677,334 9,562,926 8,434,882 8,004,157 2,820,046 2,833,466 2,703,715 3,039,951 26,893,994 1,330,196 5,362,753 35,526,156 (15,327,609) (14,344,528) (12,791,734) (11,614,664) (359,620) (147,759) (572,277) - 28,704,145 (765,699) 3,137,339 34,955,600 241,681,934 242,447,633 239,310,294 204,354,694 270,386,079 241,681,934 242,447,633 239,310,294 101,804,851$ 95,004,661 $ 80,159,325 $ 70,707,733 $

72.65% 71.78% 75.15% 77.19%
35,845,774$ 35,141,036$ 33,609,704$ 32,960,515$ 284.01% 270.35% 238.50% 214.52%
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CITY OF CARLSBAD

AGENT MULTIPLE-EMPLOYER MISCELLANEOUS PLAN

SCHEDULE OF CONTRIBUTIONS
AS OF FISCAL YEAR ENDING JUNE 30, FOR THE LAST TEN FISCAL YEARS (1) 2022 2021 2020 2019
MISCELLANEOUS:

Actuarially Determined Contribution 11,286,334$ 11,098,619$ 10,633,467$ 11,966,625$ Contribution in Relation to the Actuarially Determined Contributions (14,518,210) (16,501,759) (10,633,467) (17,745,975) Contribution Deficiency (Excess) (3,231,876)$ (5,403,140) $ - $ (5,779,350)$ Covered Payroll 44,068,269$ 43,884,424$ 42,138,677$ 39,130,545$ Contributions as a Percentage of Covered Payroll 32.94% 37.60% 25.23% 45.35% Note to Schedule:

Valuation Date: June 30, 2019
Methods and assumptions used to determine contribution rates:

Single and Agent Employers Entry age normal
Amortization method/Period For details, see June 30, 2019 Funding Valuation Report Assets valuation method
Inflation 2.50%
Salary Increases
Payroll Growth

2.75%
Investment rate of return
Retirement age
Mortality
The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. Pre-retirement and Post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries.
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore, only nine years are shown.

Varies by entry age and service
Market value of assets. For details, see June 30, 2019 Funding Valuation Report

7.00% Net of Pension Plan Investment and Administrative Expenses; includes Inflation.

The probabilities of Retirement are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015.
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2018 2017 2016 2015 2014
10,456,115$ 10,338,549 $ 9,562,926 $ 8,434,882 $ 8,004,157$ (22,114,923) (14,677,334) (9,562,926) (8, 434,882) (8,004,157) (11,658,808)$ (4,338,785) $ - $ - $ -$ 36,214,870$ 35,845,774 $ 35,141,036 $ 33,609,704 $ 32,960,515$

61.07% 40.95% 27.21% 25.10% 24.28%
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CITY OF CARLSBAD

AGENT MULTIPLE-EMPLOYER SAFETY PLAN

SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY/(ASSET) AND RELATED RATIOS AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1)
Fiscal year 2022 2021 2020 2019
Measurement period ended June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 Total Pension Liability
Service cost 7,535,523$ 6,578,451$ 6,317,755$ 5,985,155$ Interest on total pension liability 23,741,151 22,410,699 21,269,278 20,248,091 Differences between expected and actual experience 5,936,553 4,071,899 2,425,561 2,726,755 Changes in assumptions - - - (1,332,336) Benefit payments, including refunds of employee contributions (17,230,615) (16,362,437) (15,288,250) (13,797,333) Net change in total pension liability 19,982,612 16,698,612 14,724,344 13,830,332 Total pension liability - beginning 330,955,050 314,256,438 299,532,094 285,701,762 Total pension liability - ending (a) 350,937,662 330,955,050 314,256,438 299,532,094 Plan Fiduciary Net Position
Contributions - employer 14,253,531 10,321,371 23,119,896 8,675,370 Contributions - employee 2,861,027 2,581,027 2,380,740 2,169,504 Net investment income 56,569,028 12,053,297 14,331,677 17,250,148 Benefit payments (17,230,615) (16,362,437) (15,288,250) (13,797,333) Administration Expense (251,893) ( 343,854) ( 156,148) (935,892) Net change in plan fiduciary net position 56,201,078 8,249,404 24,387,915 13,361,797 Plan fiduciary net position - beginning 252,160,197 243,910,793 219,522,878 206,161,081 Plan fiduciary net position - ending (b) 308,361,275 252,160,197 243,910,793 219,522,878 Net pension liability/(asset) - ending (a)-(b) = (c) 42,576,387$ 78,794,853 $ 70,345,645 $ 80,009,216 $

87.87% 76.19% 77.62% 73.29%
Covered Payroll (d) 26,392,461$ 24,695,745$ 22,328,023$ 20,768,094$ Net pension liability/(asset) as a percentage of Covered Payroll (c/d) 161.32% 319.06% 315.06% 385.25% Notes to Schedule:

Benefit Changes:

Change of Assumptions:

7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense.) In 2014, amounts reported were based on the 7.5 percent discount rate.
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore, only eight years are shown.
92 April 4, 2023
Item #5 Page 125 of 195
2018 2017 2016 2015
June 30, 2017 June 30, 2016 June 30, 2015 June 30, 2014 5,825,080$ 5,209,900$ 5,048,529$ 5,425,425$ 19,305,098 18,557,781 17,775,039 16,876,220 (705,417) (941,378) 638,786 -
16,661,943 - (4, 517,683) - (13,034,483) (12,197,119) (11,264,768) (10,529,479) 28,052,221 10,629,184 7,679,903 11,772,166 257,649,541 247,020,357 239,340,454 227,568,288 285,701,762 257,649,541 247,020,357 239,340,454 12,379,181 6,836,098 6,491,856 6,141,746 1,922,500 1,933,363 1,726,785 1,853,365 20,385,351 990,545 4,107,305 27,905,516 (13,034,483) (12,197,119) (11,264,768) (10,529,479) (270,020) (114,168) (210,908) - 21,382,529 (2,551,281) 850,270 25,371,148 184,778,552 187,329,833 186,479,563 161,108,415 206,161,081 184,778,552 187,329,833 186,479,563 79,540,681$ 72,870,989$ 59,690,524$ 52,860,891$

72.16% 71.72% 75.84% 77.91%
18,965,085$ 18,514,525$ 18,378,393$ 18,013,144$ 419.41% 393.59% 324.79% 293.46%
93 April 4, 2023
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CITY OF CARLSBAD

AGENT MULTIPLE-EMPLOYER SAFETY PLAN

SCHEDULE OF CONTRIBUTIONS
AS OF FISCAL YEAR ENDING JUNE 30, FOR THE LAST TEN FISCAL YEARS (1) 2022 2021 2020 2019
SAFETY:

Actuarially Determined Contribution 10,144,367$ 9,656,334$ 10,323,721$ 8,899,136$ Contribution in Relation to the Actuarially Determined Contributions (13,344,367) (14,253,194) (10,323,721) (23,119,790) Contribution Deficiency (Excess) (3,200,000)$ (4,596,860) $ - $ (14,220,654)$ Covered Payroll 25,604,904$ 26,392,461$ 24,695,745$ 22,328,023$ Contributions as a Percentage of Covered Payroll 52.12% 54.00% 41.80% 103.55% Note to Schedule:

Valuation Date: June 30, 2019
Methods and assumptions used to determine contribution rates:

Single and Agent Employers Entry age normal
Amortization method/Period For details, see June 30, 2019 Funding Valuation Report Assets valuation method Market value of assets. For details, see June 30, 2019 Funding Valuation Report Inflation 2.50%
Salary Increases
Payroll Growth 2.75%
Investment rate of return
Retirement age
Mortality
Varies by entry age and service

7.00% Net of Pension Plan Investment and Administrative Expenses; includ es Inflation.

The probabilities of Retirement are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015.

The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. Pre-retirement and Post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries.
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore, only nine years are shown.
94 April 4, 2023
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2018 2017 2016 2015 2014
8,658,116$ 7,695,135 $ 6,836,098 $ 6,491,856 $ 6,141,746$ (8,658,116) (12,379,181) (6,836,098) (6, 491,856) (6,141,746) -$ ( 4,684,046)$ - $ - $ -$ 20,768,094$ 18,965,085 $ 18,514,525 $ 18,378,393 $ 18,013,144$

41.69% 65.27% 36.92% 35.32% 34.10%
95 April 4, 2023
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SCHEDULE OF CHANGES IN THE TOTAL OPEB LIABILITY AND RELATED RATIOS AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1)
Fiscal year 2022 2021 2020 2019 2018
Measurement period ended June 30, 2021 June 30, 2020 June 30, 2019 June 30, 2018 June 30, 2017 Total OPEB Liability
Service cost 669,651$ 657,941$ 536,124$ 520,509$ 505,348$ Interest on the total OPEB liability 1,347,382 1,301,716 1,167,930 1,113,646 1,064,137 Actual and expected experience difference (922,167) - ( 203,116) - - Changes in assumptions 625,021 (281,685) 1,232,232 - - Benefit payments (1,074,741) (999,866) (887,656) (860,894) (893,899) Net change in total OPEB liability 645,146 678,106 1,845,514 773,261 675,586 Total OPEB liability - beginning (2) 19,116,041 18,437,935 16,592,421 15,819,160 15,143,574 Total OPEB liability - ending (a) 19,761,187 19,116,041 18,437,935 16,592,421 15,819,160 Plan Fiduciary Net Position
Contribution - employer 1,180,559 1,085,866 978,302 860,894 747,772 Net investment income 4,387,820 541,912 887,132 1,064,150 1,281,487 Benefit payments (1,074,741) (999,866) (887,656) (860,894) (893,899) Other (11,858) (7,493) (3,078) ( 24,735) - Net change in plan fiduciary net position 4,481,780 620,419 974,700 1,039,415 1,135,360 Plan fiduciary net position - beginning 15,962,072 15,341,653 14,366,953 13,327,538 12,192,178 Plan fiduciary net position - ending (b) 20,443,852 15,962,072 15,341,653 14,366,953 13,327,538 Total OPEB Liability/(Assets) - ending (a) - (b) (682,665) $ 3,153,969 $ 3,096,282 $ 2,225,468 $ 2,491,622 $ Plan fiduciary net position as a percentage of the total OPEB liability 103.45% 83.50% 83.21% 86.59% 84.25% Covered-employee payroll 70,276,885$ 66,834,422 $ 61,458,568 $ 56,982,964 $ 54,810,859 $ Total OPEB liability as a percentage of covered-employee payroll -0.97% 4.72% 5.04% 3.91% 4.55% Changes in assumptions: The discount rate is 6.25% as of June 30, 2022

CITY OF CARLSBAD
(1) Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the first year of implementation. Future years' information will be displayed up to 10 years as information becomes available. 96 April 4, 2023
Item #5 Page 129 of 195

CITY OF CARLSBAD

SCHEDULE OF CONTRIBUTIONS
AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1)
2022 2021 2020 2019 2018
768,612$ 962,244 $ 941,129 $ 788,383 $ 770,693 $ (1,102,669) (1,1 80,557) (1, 085,864) (9 78,302) ( 860,894) (334,057)$ (218,313) $ (144,735) $ (189,919) $ (90,201) $ 90,161,596$ 70,276,885 $ 66,834,422 $ 61,458,568 $ 56,982,964 $

1.22% 1.68% 1.62% 1.59% 1.51%
Notes to Schedule:

Methods and assumptions used to determine contributions:

Actuarial Cost Method
Amortization Valuation Method/Period
Inflation 2.50%
Salary Increases
Payroll Growth 2.75%
Investment Rate of Return
Retirement Age
Mortality The probabilities of mortality are based on the CalPERS Experience Study for the period from 2000-2019.

Mortality Improvement Post-retirement mortality projected fully generational with Scale MP-2021.

Varies by Entry Age and Service base on the CalPERS Experience Study for the period from 2000-2019.

7.0% net of pension plan investment and administrative expenses, including inflation Actuarially Determined Contribution
Contribution in Relation to the Actuarially Determined Contributions Contribution Deficiency (Excess)
Covered-employee payroll
Contributions as a percentage of covered-employee payroll (1) Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the first year of implementation. Future years' information will be displayed up to 10 years as information becomes available. *Actuarial methods and assumptions used to set the actuarially determined contribution for Fiscal Year 2022 were from the June 30, 2021 actuarial Entry Age, Level Percent of Pay
Level dollar over 25-year fixed period
The probabilities of retirement are based on the CalPERS Experience Study for the period from 2000-2019. 97 April 4, 2023
Item #5 Page 130 of 195

CITY OF CARLSBAD

COMBINING BALANCE SHEET

NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2022
Assets:

Pooled cash and investments 17,277,677$ 556,638$ 2,912,160$ 9,725,510$ 1,182,088$ Receivables:

Accounts, net of allowances - - - 22,996 - Notes and loans 23,483,104 - - - - Accrued interest 3,626,143 33,219 11,079 33,926 4,508 Leases - 3, 098,072 - - - Other - - - 88,471 - Prepaid costs - - - - - Due from other governments - 100,008 - - - Advances to other funds - - - - - Inventories - - 3,460 - - Land held for resale 324,223 1,309,593 - - - Total Assets 44,711,147 $ 5,097,530 $ 2,926,699 $ 9,870,903 $ 1,186,596 $ Liabilities, Deferred inflows of Resources,
and Fund Balances:

Liabilities:

Accrued liabilities 1,863$ 89,139$ 33,273$ 235,454$ -$ Unearned revenues - - - - - Deposits payable - - - - - Due to other governments - - - - - Due to other funds - - - - - Advances from other funds - - - - 1, 203,163 Total Liabilities 1,863 89,139 33,273 235,454 1,203,163 Deferred inflows of resources:

Unavailable revenues 3,560,256 - - - - Lease related items - 3, 097,757 - - - Total Deferred inflows of Resources 3,560,256 3, 097,757 - - - Fund Balances:

Nonspendable:

Inventory - - 3,460 - - Prepaid costs - - - - - Restricted for:

Affordable, low and moderate income housing 41,149,028 - - - - Community services - 1, 910,634 2,889,966 - - Lighting and landscaping districts - - - 9,635,449 - General government - - - - - Public safety - - - - - Capital projects - - - - - Assigned to:

Capital Projects - - - - - Unassigned - - - - (1 6,567) Total Fund Balances 41,149,028 1,910,634 2,893,426 9,635,449 (16,567) Total Liabilities, deferred inflows of
resources, and Fund Balances 44,711,147$ 5,097,530$ 2,926,699$ 9,870,903$ 1,186,596$ Affordable
Housing
Community
Development
Block Grant Donations
Financing
Districts
Habitat and
Agricultural
Management
Special Revenue Funds
98 April 4, 2023
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CITY OF CARLSBAD

COMBINING BALANCE SHEET

NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2022
Assets:

Pooled cash and investments
Receivables:

Accounts, net of allowances
Notes and loans
Accrued interest
Leases
Other
Prepaid costs
Due from other governments
Advances to other funds
Inventories
Land held for resale
Total Assets
Liabilities, Deferred inflows of Resources,
and Fund Balances:

Liabilities:

Accrued liabilities
Unearned revenues
Deposits payable
Due to other governments
Due to other funds
Advances from other funds
Total Liabilities
Deferred inflows of resources:

Unavailable revenues
Lease related items
Total Deferred inflows of Resources
Fund Balances:

Nonspendable:

Inventory
Prepaid costs
Restricted for:

Affordable, low and moderate income housing
Community services
Lighting and landscaping districts
General government
Public safety
Capital projects
Assigned to:

Capital Projects
Unassigned
Total Fund Balances
Total Liabilities, deferred inflows of
resources, and Fund Balances

Capital
Projects Funds
757,735$ 601,669$ 184,663 $ 122,371 $ 3 ,361,087$ - - - - - - - - - - 2,890 2,396 522 - 9,074 - - - - - 75,665 - - - - - - - 1,069 - - 48,161 92,118 - - - - - - - - - - - - - - - - - 836,290$ 652,226$ 277,303 $ 123,440 $ 3 ,370,161$ 30,029$ 3,735$ 35,135$ 20,289$ -$ - 1,948 - - - - - 40,877 34,926 426,179 - - 4,377 - - - - - - - - - - - - 30,029 5,683 80,389 55,215 426,179 - - - - - - - - - - - - - - - - - - - - - - - 1,069 - - - 196,914 67,156 - - - - - - - - - - - 806,261 - - - - - 646,543 - - - - - - - 2, 943,982 - - - - - - - - - - 806,261 646,543 196,914 68,225 2, 943,982 836,290$ 652,226$ 277,303 $ 123,440 $ 3 ,370,161$ Special Revenue Funds
Other Special
Revenue Funds
Police Grants
and Asset
Forfeiture
Section 8
Rental
Assistance
Tyler Court
Apartments
Assessment
and Other
Districts
99 April 4, 2023
Item #5 Page 132 of 195

CITY OF CARLSBAD

COMBINING BALANCE SHEET

NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2022
Assets:

Pooled cash and investments
Receivables:

Liabilities:

Accrued liabilities
Unearned revenues
Deposits payable
Due to other governments
Due to other funds
Advances from other funds
Total Liabilities
Deferred inflows of resources:

Unavailable revenues
Lease related items
Total Deferred inflows of Resources
Fund Balances:

Nonspendable:

Inventory
Prepaid costs
Restricted for:

Affordable, low and moderate income housing
Community services
Lighting and landscaping districts
General government
Public safety
Capital projects
Assigned to:

Capital Projects
Unassigned
Total Fund Balances
Total Liabilities, deferred inflows of
resources, and Fund Balances

18,705,062$ 45,369,822$ 1,729,131$ 14,030,098$ 4,562,374$ - - - - - - - - - - 71,334 - 6,717 53,503 17,398 - - - - - - - - - - - - - - - 620,526 - 35,319 - - - - - - - - - - - - - - - - - 19,396,922$ 45,369,822$ 1,771,167$ 14,083,601$ 4,579,772$ 190,991$ 2,837,697 $ - $ - $ - $ - - - - - - - - - - - - - - - - - - - - - - - 5,650,000 - 190,991 2,837,697 - 5,650,000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 19,205,931 - 1,771,167 8,433,601 4,579,772 - 42,532,125 - - - - - - - - 19,205,931 42,532,125 1,771,167 8,433,601 4,579,772 19,396,922$ 45,369,822$ 1,771,167$ 14,083,601$ 4,579,772$ Gas Tax
General Capital
Construction
Grants and
Other Capital
Project Funds
Park
Development
Planned Local
Drainage
Facilities
Capital Projects Funds
100
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Item #5 Page 133 of 195

CITY OF CARLSBAD

COMBINING BALANCE SHEET

NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2022
Assets:

Pooled cash and investments
Receivables:

Liabilities:

Accrued liabilities
Unearned revenues
Deposits payable
Due to other governments
Due to other funds
Advances from other funds
Total Liabilities
Deferred inflows of resources:

Unavailable revenues
Lease related items
Total Deferred inflows of Resources
Fund Balances:

Nonspendable:

Inventory
Prepaid costs
Restricted for:

Affordable, low and moderate income housing
Community services
Lighting and landscaping districts
General government
Public safety
Capital projects
Assigned to:

Capital Projects
Unassigned
Total Fund Balances
Total Liabilities, deferred inflows of
resources, and Fund Balances

27,966,622$ 9,118,256$ 20,254,375$ 8,711,127$ 187,128,465$ - - - - 22,996 - - - - 23,483,104 106,649 34,765 77,239 33,219 4, 124,581 - - - - 3, 098,072 - 87,728 - - 251,864 - - - 156,166 157,235 - 76,864 - - 972,996 5,650,000 - - - 5, 650,000 - - - - 3,460 - - - - 1, 633,816 33,723,271$ 9,317,613$ 20,331,614$ 8,900,512$ 226,526,589$ 246,037$ 265,824 $ 209,441 $ 92,352 $ 4, 291,259$ - - - - 1,948 - - - - 501,982 - - - - 4,377 - - - - - - - 1,397,070 - 8, 250,233 246,037 265,824 1,606,511 92,352 13,049,799 - 45,294 - - 3, 605,550 - - - - 3, 097,757 - 45,294 - - 6, 703,307 - - - - 3,460 - - - 156,166 157,235 - - - - 41,413,098 - - - - 4, 800,600 - - - - 9, 635,449 - - - - 806,261 - - - - 646,543 33,477,234 9,006,495 18,725,103 - 98,143,285 - - - 8,651,994 51,184,119 - - - - ( 16,567) 33,477,234 9,006,495 18,725,103 8,808,160 206,773,483 33,723,271$ 9,317,613$ 20,331,614$ 8,900,512$ 226,526,589$ Total
Government
Funds
Public
Facilities
Construction
Sales
Tax/TransNet
Traffic Impact
Projects
Technology
Investment
Capital
Capital Projects Funds
101
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CITY OF CARLSBAD

COMBINING STATEMENT OF REVENUES,

EXPENDITURES AND CHANGES IN FUND BALANCES

NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2022

Revenues:

Taxes -$ -$ -$ -$ -$ Intergovernmental 460 1,036,043 - - - Contribution from property owners 342,149 - - - 274,652 Charges for services 911,558 - 12,781 2,523,577 - Use of money and property (491,217) 176,252 (124,807) (380,467) (48,487) Fines and forfeitures - - - - - Contributions - - 354,157 - - Miscellaneous - - 11,137 21,690 - Total Revenues 762,950 1,212,295 253,268 2,164,800 226,165 Expenditures:

Current:

General government - - - - - Public safety - - - - - Community services 187,513 1,429,464 235,464 1,884,225 - Public works - - - 1,260,694 - Capital outlay - - 16,922 - - Debt service:

Interest and fiscal charges - - - - 14,535 Total Expenditures 187,513 1,429,464 252,386 3,144,919 14,535 Excess (Deficiency) of Revenues
Ove r (Under) Expenditures 575,437 (217,169) 882 ( 980,119) 211,630 Other Financing Sources (Uses):

Transfers in 200,912 - - 1,390,000 - Transfers out (50,000) - - - - Proceeds from sale of capital asset - 199,679 - - - Total Other Financing Sources
(Uses) 150,912 199,679 - 1,390,000 - Net Change in Fund Balances 726,349 (17,490) 882 409,881 211,630 Fund Balances, Beginning of Year 40,422,679 1,928,124 2,892,544 9,225,568 (228,197) Fund Balances, End of Year 41,149,028$ 1,910,634$ 2,893,426$ 9,635,449$ (16,567)$ Affordable
Housing
Community
Development
Block Grant Donations
Financing
Districts
Habitat and
Agricultural
Management
Special Revenue Funds
102
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CITY OF CARLSBAD

COMBINING STATEMENT OF REVENUES,

EXPENDITURES AND CHANGES IN FUND BALANCES

NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2022

Revenues:

Taxes
Intergovernmental
Contribution from property owners
Charges for services
Use of money and property
Fines and forfeitures
Contributions
Miscellaneous
Total Revenues
Expenditures:

Current:

General government
Public safety
Community services
Public works
Capital outlay
Debt service:

Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Ove r (Under) Expenditures
Other Financing Sources (Uses):

Transfers in
Transfers out
Proceeds from sale of capital asset
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year

Capital
Projects
Funds
-$ - $ - $ - $ - $ - 455,280 9,968,003 - - 301,514 - - - - - - - 649,402 - (32,839) (27,169) ( 3,720) 3,264 ( 100,711) - 2,672 - - - - - - - - - - 28,336 - - 268,675 430,783 9,992,619 652,666 ( 100,711) 378,918 - - - - - 263,971 - - - - - 10,081,418 701,017 - - - - - - 24,925 8,770 - 13,111 2,587 - - - - - 403,843 272,741 10, 081,418 714,128 2,587 (135,168) 158,042 (88,799) ( 61,462) ( 103,298) - - 50,000 - - - - - ( 200,912) - - - - - - - - 50,000 ( 200,912) - (135,168) 158,042 (38,799) ( 262,374) (103,298) 941,429 488,501 235,713 330,599 3,047,280 806,261$ 646,543 $ 196,914$ 68,225 $ 2,943,982 $ Assessment
and Other
Districts
Police Grants
and Asset
Forfeiture
Section 8
Rental
Assistance
Tyler Court
Apartments
Other Special
Revenue
Funds
Special Revenue Funds
103
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CITY OF CARLSBAD

COMBINING STATEMENT OF REVENUES,

EXPENDITURES AND CHANGES IN FUND BALANCES

NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2022

Revenues:

Taxes
Intergovernmental
Contribution from property owners
Charges for services
Use of money and property
Fines and forfeitures
Contributions
Miscellaneous
Total Revenues
Expenditures:

Current:

General government
Public safety
Community services
Public works
Capital outlay
Debt service:

Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Ove r (Under) Expenditures
Other Financing Sources (Uses):

Transfers in
Transfers out
Proceeds from sale of capital asset
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year

5,073,071$ -$ -$ -$ -$ - - 35,319 - - - - 44,960 536,232 180,839 - - - - - (796,766) - ( 76,692) (5 98,855) ( 195,262) - - - - - - - - - - - 13,387 - - - 4,276,305 13,387 3,587 (62,623) (14,423) - - - - - - - - - - - - - - - 600,000 - 49,674 - 490 2,303,425 12,606,427 26,669 1,196 93,670 - - - - - 2,903,425 12,606,427 76,343 1,196 94,160 1,372,880 (12,593,040) (72,756) (63,819) (108,583) - 13,283,056 - - - (10,000) - - - - - - - - - (10,000) 13,283,056 - - - 1,362,880 690,016 (72,756) (63,819) (108,583) 17,843,051 41,842,109 1,843,923 8,497,420 4,688,355 19,205,931$ 42,532,125 $ 1,771,167 $ 8,433,601 $ 4,579,772 $ Planned Local
Drainage
Facilities Gas Tax
General
Capital
Construction
Grants and
Other Capital
Project Funds
Park
Development
Capital Projects Funds
104
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CITY OF CARLSBAD

COMBINING STATEMENT OF REVENUES,

EXPENDITURES AND CHANGES IN FUND BALANCES

NONMAJOR GOVERNMENTAL FUNDS
YEAR ENDED JUNE 30, 2022

Revenues:

Taxes
Intergovernmental
Contribution from property owners
Charges for services
Use of money and property
Fines and forfeitures
Contributions
Miscellaneous
Total Revenues
Expenditures:

Current:

General government
Public safety
Community services
Public works
Capital outlay
Debt service:

Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues
Ove r (Under) Expenditures
Other Financing Sources (Uses):

Transfers in
Transfers out
Proceeds from sale of capital asset
Total Other Financing Sources
(Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year

Total
Governmental
Funds
-$ - $ - $ - $ 5, 073,071$ - 1,569,178 - - 13,064,283 581,057 - 478,299 - 2, 739,702 - 1,033,670 - - 5, 130,988 (1,128,213) (387,501) ( 873,000) ( 317,172) (5, 403,362) - - - - 2,672 - - - - 354,157 - - - - 74,550 (547,156) 2,215,347 ( 394,701) ( 317,172) 21,036,061 - - - - 378,918 - - - - 263,971 - - - - 14,519,101 9,268 - 4,368 - 1,924,494 2,635,240 1,922,954 2,806,082 1,530,668 23,992,646 - - - - 14,535 2,644,508 1,922,954 2,810,450 1,530,668 41,093,665 (3,191,664) 292,393 (3,205,151) (1,847,840) (20, 057,604) - - - 10,656,000 25,579,968 - - - - ( 260,912) - - - - 199,679 - - - 10,656,000 25,518,735 (3,191,664) 292,393 (3,205,151) 8, 808,160 5, 461,131 36,668,898 8,714,102 21,930,254 - 201,312,352 33,477,234$ 9,006,495 $ 18,725,103 $ 8,808,160 $ 206,773,483 $ Public
Facilities
Construction
Sales
Tax/TransNet
Traffic Impact
Projects
Technology
Investment
Capital
Capital Projects Funds
105
April 4, 2023
Item #5 Page 138 of 195

CITY OF CARLSBAD

BUDGETARY COMPARISON SCHEDULE

AFFORDABLE HOUSING
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 40,422,679$ 40,422,679$ 40,422,679$ -$ Resources (Inflows):

Intergovernmental - - 460 460 Contribution from property owners 140,000 140,000 342,149 202,149 Charges for services 30,000 30,000 911,558 881,558 Use of money and property 345,000 345,000 (491,217) (836,217) Transfers in - 200,912 200,912 - Amounts Available for Appropriation 40,937,679 41,138,591 41,386,541 247,950 Charges to Appropriation (Outflow):

Community services 761,197 765,592 187,513 578,079 Transfers out 50,000 50,000 50,000 - Total Charges to Appropriations 811,197 815,592 237,513 578,079 Budgetary Fund Balance, June 30 40,126,482$ 40,322,999$ 41,149,028$ 826,029$ 106
April 4, 2023
Item #5 Page 139 of 195

CITY OF CARLSBAD

BUDGETARY COMPARISON SCHEDULE

COMMUNITY DEVELOPMENT BLOCK GRANT
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 1,928,124$ 1,928,124$ 1,928,124$ -$ Resources (Inflows):

Intergovernmental 520,000 1,337,368 1,036,043 (301,325) Use of money and property 500 500 176,252 175,752 Proceeds from sale of capital asset - - 199,679 199,679 Amounts Available for Appropriation 2,448,624 3,265,992 3,340,098 74,106 Charges to Appropriation (Outflow):

Community services 638,299 2,542,936 1,429,464 1,113,472 Total Charges to Appropriations 638,299 2,542,936 1,429,464 1,113,472 Budgetary Fund Balance, June 30 1,810,325$ 723,056$ 1,910,634$ 1,187,578$ 107
April 4, 2023
Item #5 Page 140 of 195

CITY OF CARLSBAD

BUDGETARY COMPARISON SCHEDULE

DONATIONS
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 2,892,544$ 2,892,544$ 2,892,544$ -$ Resources (Inflows):

Charges for services - - 12,781 12,781 Use of money and property 30,523 30,523 (124,807) (155,330) Contributions 254,000 254,000 354,157 100,157 Miscellaneous 8,000 8,000 11,137 3,137 Amounts Available for Appropriation 3,185,067 3,185,067 3,145,812 (39,255) Charges to Appropriation (Outflow):

Community services 684,211 717,362 235,464 481,898 Capital outlay - - 16,922 (16,922) Total Charges to Appropriations 684,211 717,362 252,386 464,976 Budgetary Fund Balance, June 30 2,500,856$ 2,467,705$ 2,893,426$ 425,721$ 108
April 4, 2023
Item #5 Page 141 of 195

CITY OF CARLSBAD

BUDGETARY COMPARISON SCHEDULE

FINANCING DISTRICTS
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 9,225,568$ 9,225,568$ 9,225,568$ -$ Resources (Inflows):

Charges for services 2,464,351 2,464,351 2,523,577 59,226 Use of money and property 109,000 109,000 (380,467) (489,467) Miscellaneous - 7,524 21,690 14,166 Transfers in 1,190,000 1,390,000 1,390,000 -
Amounts Available for Appropriation 12,988,919 13,196,443 12,780,368 (416,075) Charges to Appropriation (Outflow):

Community services 2,312,970 2,610,695 1,884,225 726,470 Public works 1,542,492 1,671,528 1,260,694 410,834 Total Charges to Appropriations 3,855,462 4,282,223 3,144,919 1,137,304 Budgetary Fund Balance, June 30 9,133,457$ 8,914,220$ 9,635,449$ 721,229$ 109
April 4, 2023
Item #5 Page 142 of 195

CITY OF CARLSBAD

BUDGETARY COMPARISON SCHEDULE

HABITAT AND AGRICULTURAL MANAGEMENT
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 (228,197)$ (228,197)$ (228,197)$ -$ Resources (Inflows):

Contribution from property owners 15,000 15,000 274,652 259,652 Use of money and property 15,000 15,000 (48,487) (63,487) Miscellaneous - - - - Amounts Available for Appropriation (198,197) (198,197) (2,032) 196,165 Charges to Appropriation (Outflow):

Public works - 66,818 - 66,818 Debt service:

Interest and fiscal charges - 14,535 14,535 - Total Charges to Appropriations - 81,353 14,535 66,818 Budgetary Fund Balance, June 30 (198,197)$ (279,550)$ (16,567)$ 262,983$ 110
April 4, 2023
Item #5 Page 143 of 195

CITY OF CARLSBAD

BUDGETARY COMPARISON SCHEDULE

OTHER SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 941,429$ 941,429$ 941,429$ -$ Resources (Inflows):

Contribution from property owners 285,000 285,000 301,514 16,514 Use of money and property 10,000 10,000 (32,839) (42,839) Amounts Available for Appropriation 1,236,429 1,236,429 1,210,104 (26,325) Charges to Appropriation (Outflow):

General government 345,000 473,445 378,918 94,527 Capital outlay - - 24,925 (24,925) Total Charges to Appropriations 345,000 473,445 403,843 69,602 Budgetary Fund Balance, June 30 891,429$ 762,984$ 806,261$ 43,277$ 111
April 4, 2023
Item #5 Page 144 of 195

CITY OF CARLSBAD

BUDGETARY COMPARISON SCHEDULE

POLICE GRANTS AND ASSET FORFEITURE
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 488,501$ 488,501$ 488,501$ -$ Resources (Inflows):

Intergovernmental 185,000 387,667 455,280 67,613 Use of money and property 4,000 4,000 (27,169) (31,169) Fines and forfeitures 14,000 14,000 2,672 (11,328) Amounts Available for Appropriation 691,501 894,168 919,284 25,116 Charges to Appropriation (Outflow):

General government 95,000 95,000 - 95,000 Public safety 341,106 617,847 263,971 353,876 Capital outlay - 96,623 8,770 87,853 Total Charges to Appropriations 436,106 809,470 272,741 536,729 Budgetary Fund Balance, June 30 255,395$ 84,698$ 646,543$ 561,845$ 112
April 4, 2023
Item #5 Page 145 of 195

CITY OF CARLSBAD

BUDGETARY COMPARISON SCHEDULE
SECTION 8 RENTAL ASSISTANCE
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 235,713$ 235,713$ 235,713$ -$ Resources (Inflows):

Intergovernmental 7,490,000 9,965,876 9,968,003 2,127 Use of money and property - - (3,720) (3,720) Miscellaneous 8,000 28,311 28,336 25 Transfers in 50,000 50,000 50,000 - Amounts Available for Appropriation 7,783,713 10,279,900 10,278,332 (1,568) Charges to Appropriation (Outflow):

Community services 7,898,443 10,103,203 10,081,418 21,785 Total Charges to Appropriations 7,898,443 10,103,203 10,081,418 21,785 Budgetary Fund Balance, June 30 (114,730)$ 176,697$ 196,914$ 20,217$ 113
April 4, 2023
Item #5 Page 146 of 195

CITY OF CARLSBAD

BUDGETARY COMPARISON SCHEDULE

TYLER COURT APARTMENTS
YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 330,599$ 330,599$ 330,599$ -$ Resources (Inflows):

Charges for services 641,891 641,891 649,402 7,511 Use of money and property 2,509 2,509 3,264 755 Amounts Available for Appropriation 974,999 974,999 983,265 8,266 Charges to Appropriation (Outflow):

Community services 521,190 621,773 701,017 (79,244) Capital outlay 119,797 119,797 13,111 106,686 Transfers out - 200,912 200,912 - Total Charges to Appropriations 640,987 942,482 915,040 27,442 Budgetary Fund Balance, June 30 334,012$ 32,517$ 68,225$ 35,708$ 114
April 4, 2023
Item #5 Page 147 of 195

CITY OF CARLSBAD

COMBINING STATEMENT OF NET POSITION

NON-MAJOR PROPRIETARY FUNDS
JUNE 30, 2022
Totals
Assets:

Current:

Cash and investments 5,173,626$ 12,250,227 $ 17,423,853 $ Receivables:

Accounts 15,132 992,703 1, 007,835 Accrued interest 14,228 46,716 60,944 Lease 55,813 - 55,813
Other 11,343 647,354 658,697
Prepaid costs 83,501 - 83,501 Inventories 176,119 - 176,119 Total Current Assets 5,529,762 13,937,000 19,466,762 Noncurrent:

Net OPEB asset - 3,790 3,790 Lease receivable 1,300,680 - 1, 300,680 Capital Assets
Land 4,786,745 - 4, 786,745 Construction in progress 6,631 - 6,631 Buildings and other structures 20,170,451 - 20,170,451 Improvements other than buildings 44,060,852 - 44,060,852 Machinery and equipment 1,936,607 - 1,936,607 Less accumulated depreciation (47,259,459) - ( 47,259,459) Total capital assets (net of accumulated depreciation) 23,701,827 - 23,701,827 Total Noncurrent Assets 25,002,507 3,790 25,006,297 Total Assets 30,532,269 13, 940,790 44, 473,059 Deferred Outflows of Resources:

Deferred outflows of resources - pension related items - 338,388 338,388 Deferred outflows of resources - OPEB related items - 60,470 60,470 Total Deferred Outflows of Resources - 398,858 398,858 Liabilities:

Current:

Accrued liabilities 570,334 1,208,043 1, 778,377 Total Current Liabilities 570,334 1,208,043 1,778,377 Noncurrent:

Uneared revenues - 210,670 210,670 Deposits payable 727,388 - 727,388 Net pension liability - 679,907 679,907 Total Noncurrent Liabilities 727,388 890,577 1,617,965 Total Liabilities 1,297,722 2,098,620 3, 396,342 Deferred Inflows of Resources:

Deferred inflows of resources - pension related items - 706,022 706,022 Deferred inflows of resources - OPEB related items - 66,491 66,491 Deferred inflows of resources - lease related items 1,334,985 - 1,334,985 Total Deferred Inflows of Resources 1,334,985 772,513 2,107,498 Net Position:

Invested in capital assets 23,701,827 - 23,701,827 Unrestricted 4,197,735 11, 468,515 15, 666,250 Total Net Position 27,899,562$ 11,468,515 $ 39,368,077 $ Business-Type Activities - Enterprise Funds
Golf Course Solid Waste
115
April 4, 2023
Item #5 Page 148 of 195

CITY OF CARLSBAD

COMBINING STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN FUND NET POSITION

NON-MAJOR PROPRIETARY FUNDS
YEAR ENDED JUNE 30, 2022
Totals
Operating Revenues:

Golf course operations 10,424,281$ - $ 10,424,281$ Other charges for services - 3,684,383 3, 684,383 Miscellaneous 25,896 246,508 272,404 Total Operating Revenues 10,450,177 3,930,891 14,381,068 Operating Expenses:

Administration and general 280,090 4,736,444 5, 016,534 Depreciation expense 3,401,019 - 3, 401,019 Golf course operations 8,027,121 - 8, 027,121 Total Operating Expenses 11,708,230 4,736,444 16,444,674 Operating Income (Loss) (1,258,053) (805,553) (2,063,606) Nonoperating Revenues (Expenses):

Intergovernmental - 10,265 10,265 Interest revenue 27,183 - 27,183 Income (loss) from property and investments (55,008) (524,898) (579,906) Total Nonoperating
Revenues (Expenses) (27,825) ( 514,633) ( 542,458) Income (Loss) Before Transfers (1,285,878) (1,320,186) (2,606,064) Transfers in - 322,000 322,000 Transfers out - ( 7,980) (7,980) Changes in Net Position (1,285,878) (1,006,166) (2,292,044) Net Position:

Beginning of Year 29,185,440 12,474,681 41,660,121 End of Fiscal Year 27,899,562$ 11,468,515 $ 39,368,077 $ Business-Type Activities - Enterprise Funds
Golf Course Solid Waste
116
April 4, 2023
Item #5 Page 149 of 195

CITY OF CARLSBAD

COMBINING STATEMENT OF CASH FLOWS

NON-MAJOR PROPRIETARY FUNDS
YEAR ENDED JUNE 30, 2022
Totals
Cash Flows from Operating Activities:

Cash received from customers and users 10,411,356$ 3,731,640$ 14,142,996$ Cash paid to suppliers for goods and services (7,940,205) (304,510) (8,244,715) Cash paid to employees for services (19,901) (4,989,775) (5,009,676) Cash received from (payments to) others 25,896 246,508 272,404 Net Cash Provided (Used) by Operating Activities 2,477,146 (1,316,137) 1,161,009 Cash Flows from Non-Capital
Financing Activities:

Cash transfers out - ( 7,980) (7 ,980) Cash transfers in - 322,000 322,000 Repayment made to other funds - ( 7,980) (7 ,980) Net Cash Provided (Used) by
Non-Capital Financing Activities - 306,040 306,040 Cash Flows from Capital
and Related Financing Activities:

Acquisition and construction of capital assets (38,118) - (38,118) Capital Grants - 10,265 10,265 Lease items (21,508) - (2 1,508) Net Cash Provided (Used) by
Capital and Related Financing Activities (59,626) 10,265 (49,361) Cash Flows from Investing Activities:

Interest received (35,157) ( 523,608) ( 558,765) Net Cash Provided (Used) by
Investing Activities (35,157) ( 523,608) ( 558,765) Net Increase (Decrease) in Cash
and Cash Equivalents 2,382,363 (1,5 23,440) 858, 923 Cash and Cash Equivalents at Beginning of Year 2,791,263 13,773,667 16,564,930 Cash and Cash Equivalents at End of Year 5,173,626$ 12,250,227$ 17,423,853$ Reconciliation of Operating Income to Net Cash
Provided (Used) by Operating Activities:

Operating income (loss) (1,258,053)$ (805,553) $ (2, 063,606)$ Adjustments to reconcile operating income (loss)
net cash provided (used) by operating activities:

Depreciation 3,401,019 - 3,401,019 (Increase) decrease in accounts receivable (12,925) (135,086) (148,011) (Increase) decrease in inventories (35,407) - (35,407) (Increase) decrease in prepaid expense (20,961) - (20,961) Increase (decrease) in accrued liabilities 143,284 (304,510) (161,226) Increase (decrease) in deposits payable 246,382 - 246,382 Increase (decrease) in unearned revenue - 182,343 182,343 Increase (decrease) in OPEB liability 72,389 72,389 Increase (decrease) in pension liability 13,807 (325,720) (311,913) Total Adjustments 3,735,199 ( 510,584) 3, 224,615 Net Cash Provided (Used) by
Operating Activities 2,477,146$ (1,316,137) $ 1,161,009 $ Business-Type Activities - Enterprise Funds
Golf Course Solid Waste
117
April 4, 2023
Item #5 Page 150 of 195

CITY OF CARLSBAD

COMBINING STATEMENT OF NET POSITION

INTERNAL SERVICE FUNDS
JUNE 30, 2022
Totals
Assets:

Current:

Cash and investments 19,010,881$ 5,870,411$ 8,038,530$ 4,711,454$ 13,280,227$ 50,911,503$ Receivables:

Accounts, net of allowances 12,806 - - - - 12,806 Accrued interest 72,497 - 30,657 17,967 50,643 171,764 Prepaid costs - - 2,403,243 - - 2,403,243 Inventories 257,258 - - - - 257,258 Total Current Assets 19,353,442 5,870,411 10,472,430 4,729,421 13,330,870 53,756,574 Noncurrent:

Net OPEB assets 14,403 - 35,509 2,490 777 53,179 Captial Assets
Construction in progress - - 150,696 - - 150,696 Machinery and equipment 31,776,392 - 5,427,322 - - 37,203,714 Intangible assets - - 3,155,837 - - 3,155,837 Less accumulated depreciation (15,559,905) - (3,694,552) - - (19,254,457) Total capital assets (net of accumulated depreciation) 16,216,48 7 - 5,039,303 - - 21,255,790 Total Noncurrent Assets 16,230,890 - 5,074,812 2,490 777 21,308,969 Total Assets 35,584,332 5,870,411 15,547,242 4,731,911 13,331,647 75,065,543 Deferred Outflows of Resources:

Deferred outflows of resources - pension related items 256,408 - 983,768 71,515 43,607 1,355,298 Deferred outflows of resources - OPEB related items 33,905 - 106,050 6,566 2,812 149,333 Total Deferred Outflows of Resources 290,313 - 1,089,818 78,081 46,419 1,504,631 Liabilities:

Current:

Accrued liabilities 231,140 5,870,411 1,122,510 258,932 6,740 7,489,733 Accrued claims and judgments - - - 4,669,826 12,239,989 16,909,815 Total Current Liabilities 231,140 5,870,411 1,122,510 4,928,758 12,246,729 24,399,548 Noncurrent:

Deposits payable 968 - - 1,000 - 1,968 Net pension liability 515,186 - 1,976,636 143,692 87,617 2,723,131 Total Noncurrent Liabilities 516,154 - 1,976,636 144,692 87,617 2,725,099 Total Liabilities 747,294 5,870,411 3,099,146 5,073,450 12,334,346 27,124,647 Deferred Inflows of Resources:

Deferred inflows of resources - pension related items 534,975 - 2,052,559 149,211 90,982 2,827,727 Deferred inflows of resources - OPEB related items 51,346 - 152,233 9,683 3,907 217,169 Total Deferred Inflows of Resources 586,321 - 2,204,792 158,894 94,889 3,044,896 Net Position:

Invested in capital assets 16,216,487 - 5,039,303 - - 21,255,790 Unrestricted 18,324,543 - 6,293,819 (422,352) 948,831 25,144,841 Total Net Position 34,541,030$ -$ 11,333,122$ (422,352)$ 948,831$ 46,400,631$ Governmental Activities - Internal Service Funds
Fleet
Management
Self Insured
Benefits
Information
Technology
Risk
Management
Workers'
Compensation
118
April 4, 2023
Item #5 Page 151 of 195

CITY OF CARLSBAD

COMBINING STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN FUND NET POSITION

INTERNAL SERVICE FUNDS
YEAR ENDED JUNE 30, 2022
Totals
Operating Revenues:

Other charges for services 6,627,195$ -$ 14,759,399$ 3,305,532$ 4,524,120$ 29,216,246$ Miscellaneous 67,848 - 49,700 49,453 849,077 1,016,078 Total Operating Revenues 6,695,043 - 14,809,099 3,354,985 5,373,197 30,232,324 Operating Expenses:

Administration and general 1,697,001 - 11,511,484 425,605 85,763 13,719,853 Claims and premiums expense - - - 4,094,126 6,894,484 10,988,610 Depreciation expense 2,380,856 - 1,031,645 - - 3,412,501 Fuel and supplies 1,716,709 - - - - 1,716,709 Small equipment purchases 1,366 - 720,941 - - 722,307 Total Operating Expenses 5,795,932 - 13,264,070 4,519,731 6,980,247 30,559,980 Operating Income (Loss) 899,111 - 1,545,029 (1,164,746) (1,607,050) (327,656) Nonoperating Revenues (Expenses):

Intergovernmental - - 1,072 - - 1,072 Contributions 1,061,329 - (20,823) - - 1,040,506 Income (loss) from property and investments (815,785) - (355,274) (206,583) (567,116) (1,944,758) Gain (loss) on disposal of capital assets 307,868 - - - - 307,868 Total Nonoperating
Revenues (Expenses) 553,412 - (375,025) (206,583) (567,116) (595,312) Income (Loss) Before Transfers 1,452,523 - 1,170,004 (1,371,329) (2,174,166) (922,968) Transfers in - - - - - - Transfers out (100,800) - - - - (100,800) Changes in Net Position 1,351,723 - 1,170,004 (1,371,329) (2,174,166) (1,023,768) Net Position:

Beginning of Year 33,189,307 - 10,163,118 948,977 3,122,997 47,424,399 End of Fiscal Year 34,541,030$ - $ 11,333,122$ (422,352) $ 948,831 $ 46,400,631 $ Governmental Activities - Internal Service Funds
Fleet
Management
Self Insured
Benefits
Information
Technology
Risk
Management
Workers'
Compensation
119
April 4, 2023
Item #5 Page 152 of 195

CITY OF CARLSBAD

COMBINING STATEMENT OF CASH FLOWS

INTERNAL SERVICE FUNDS
YEAR ENDED JUNE 30, 2022
Totals
Cash Flows from Operating Activities:

Cash received from/(paid to) interfund service provided 6,619,49 5$ - $ 14,759,399$ 3,305,532 $ 4,524,120 $ 29,208,546 $ Cash paid to suppliers for goods and services (1,756,405) - (1,001,649) 120,469 (6,224) (2,643,809) Cash paid to employees for services (1,889,294) 254,596 (12,382,533) (478,342) (117,538) (14,613,111) Claims and premiums paid - - - (3,045,668) (5,179,148) (8,224,816) Cash received from (payments to) others 67,848 - 49,700 49,453 849,077 1,016,078 Net Cash Provided (Used) by Operating Activities 3,041,644 254,596 1,424,917 (48,556) 70,287 4,742,888 Cash Flows from Non-Capital
Financing Activities:

Cash transfers out (100,800) - - - - (100,800) Net Cash Provided (Used) by
Non-Capital Financing Activities (100,800) - - - - (100,800) Cash Flows from Capital
and Related Financing Activities:

Contributions 1,061,329 - - - - 1,061,329 Acquisition and construction of capital assets (4,588,999) - (443,312) - - (5,032,311) Capital grants - - 1,072 - - 1,072 Proceeds from sales of capital assets 307,868 - - - - 307,868 Net Cash Provided (Used) by
Capital and Related Financing Activities (3,219,802) - (442,240) - - (3,662,042) Cash Flows from Investing Activities:

Interest received (815,785) - (380,836) (207,228) (570,428) (1,974,277) Net Cash Provided (Used) by
Investing Activities (815,785) - (380,836) (207,228) (570,428) (1,974,277) Net Increase (Decrease) in Cash
and Cash Equivalents (1,094,743) 254,596 601,841 (255,784) (500,141) (994,231) Cash and Cash Equivalents at Beginning of Year 20,105,624 5,615,815 7,436,689 4,967,238 13,780,368 51,905,734 Cash and Cash Equivalents at End of Year 19,010,881$ 5,870,411$ 8,038,530$ 4,711,454$ 13,280,227$ 50,911,503$ Reconciliation of Operating Income to Net Cash
Provided (Used) by Operating Activities:

Operating income (loss) 899,111$ -$ 1,545,029$ (1,164,746)$ (1,607,050)$ (327,656)$ Adjustments to reconcile operating income (loss)
net cash provided (used) by operating activities:

Depreciation 2,380,856 - 1,031,645 - - 3,412,501 (Increase) decrease in accounts receivable (7,700) - - - - (7,700) (Increase) decrease in inventories 74,810 - - - - 74,810 (Increase) decrease in prepaid expense 4,461 - (280,708) - - (276,247) Increase (decrease) in accrued liabilities (117,601) 254,596 (142,017) 120,469 (6,224) 109,223 Increase (decrease) in OPEB liability 112,745 242,397 17,789 10,488 383,419 Increase (decrease) in pension liability (305,038) (971,429) (70,526) (42,263) (1,389,256) Increase (decrease) in claims and judgments - - - 1,048,458 1,715,336 2,763,794 Total Adjustments 2,142,533 254,596 (120,112) 1,116,190 1,677,337 5,070,544 Net Cash Provided (Used) by
Operating Activities 3,041,644$ 254,596$ 1,424,917$ (48,556)$ 70,287$ 4,742,888$ Governmental Activities - Internal Service Funds
Fleet
Management
Self Insured
Benefits
Information
Technology
Risk
Management
Workers'
Compensation
120
April 4, 2023
Item #5 Page 153 of 195

CITY OF CARLSBAD

COMBINING STATEMENT OF FIDUCIARY NET POSITION

CUSTODIAL FUNDS
JUNE 30, 2022
Totals
Assets:

Cash and investments 3,837,975$ 5, 448,496$ 9,286,471 $ Receivables:

Assessments 20,428 7,378 27,806 Accrued interest 33,732 20,778 54,510 Restricted assets:

Cash and investments 4,683,715 - 4,683,715 Total Assets 8,575,850 5, 476,652 14,052,502 Liabilities:

Accrued liabilities 26,746 5,242 31,988 Total Liabilities 26,746 5,242 31,988 Net Position:

Restricted for:

Individuals, organizations and other governments 8,549,104 5,471,410 14,020,514 Total Net Position 8,549,104$ 5,471,410$ 14,020,514 $ Assessment
Districts
Business
Improvement
Districts
121
April 4, 2023
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CITY OF CARLSBAD

COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION

CUSTODIAL FUNDS
YEAR ENDED JUNE 30, 2022
Additions:

Taxes 1,373,266$ - $ 1 ,373,266$ Income (loss) from property and investments (122,452) (223,991) (346,443) Assessment district collections 3,511,314 6,862,991 10,374,305 Total Additions 4,762,128 6 ,639,000 11,401,128 Deductions:

Distributions to beneficiaries - 3,151,352 3 ,151,352 Administrative expenses - 163,951 163,951 Bond interest expense and fees 1,662,438 - 1,662,438 Principal expense 3,610,000 - 3,610,000 Total Deductions 5,272,438 3 ,315,303 8 ,587,741 Changes in Net Position (510,310) 3,323,697 2,813,387 Net Position - Beginning of the Year 9,059,414 2 ,147,713 11,207,127 Net Position - End of the Year 8,549,104$ 5,471,410$ 14,020,514$ Business
Improvement
Districts Totals
Assessment
Districts
122
April 4, 2023
Item #5 Page 155 of 195

123

Statistical Section

This section of the City of Carlsbad’s Annual Comprehensive Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplement ary information says about the city’s overall financial health.

Table of Contents Page

Financial Trends 124
These schedules contain trend information to help the reader understand how the c ity’s financial performance and well-being have changed over time.

Revenue Capacity 134
These schedules contain information to help the reader assess the c ity’s water and wastewater revenue sources as well as the city’s most significant local revenue source, property tax es.

Debt Capacity 143
These schedules present information to help the reader assess the affordability of the city’s current levels of outstanding debt, and the city’s ability to issue additional debt in t he future.

Demographic and Economic Information 152
These schedules offer demographic and economic indicators to help the reader understand th e environment within which the city’s financial activities take place.

Operating Information 156
These schedules contain service and infrastructure data to help the reader understand how the information in the c ity’s financial report relates to the services the c ity provides and the activities it performs.

Sources: Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports for the relevant year.

April 4, 2023
Item #5 Page 156 of 195
{city of
Carlsbad
Net Position by Component
Last Ten Fiscal Years
(dollars in thousands)
2012-13 2013-14 2014-15 2015-16
Governmental activities
Net investment in capital assets 782,500 $ 784,210$ 783,298 $ 788,035$ Restricted for:

Capital projects 182,685 175,468 178,228 176,279 Lighting and landscaping districts 2,958 4,703 5,263 5,921 Affordable housing 37,390 39,317 39,544 40,390 Habitat and agricultural mitigation management 2,665 1,713 1,708 1,758 Other purposes 3,685 3,774 3,059 2,948 Unrestricted 319,317 328,602 223,522 245,078 Total governmental activities net position 1,331,200 $ 1,337,787 $ 1,234,622 $ 1 1,260,409$ Business-type activities
Net investment in capital assets 307,000 $ 305,681 $ 307,122$ 317,927$ Restricted for:

Capital projects 45,990 46,632 47,315 45,950 Unrestricted 55,758 66,083 69,922 73,285 Total business-type activities net position 408,748 $ 418,396 $ 424,359 $ 1 437,162$
Total government
Net investment in capital assets 1,089,500 $ 1 ,089,891$ 1,090,420 $ 1,105,962 $ Restricted for:

Capital projects 228,675 222,100 225,543 222,229 Lighting and landscaping districts 2,958 4,703 5,263 5,921 Affordable housing 37,390 39,317 39,544 40,390 Habitat and agricultural mitigation management 2,665 1,713 1,708 1,758 Other purposes 3,685 3,774 3,059 2,948 Unrestricted 375,075 394,685 293,444 318,363 Total net position 1,739,948$ 1,756,183 $ 1,658,981 $ 1 ,697,571$ Source: City of Carlsbad Annual Comprehensive Financial Reports 1 Net position for the prior year was restated in FY 2014-15, to reflect the application of GASB 68, Accounting & Financial Reporting for Pensions.
2 Habitat and agricultural mitigation management was combined with other purposes in FY 2019-20 due to immateriality. 3 In FY 2020-21 a transfer of $47 million was made from the General Fund to the Golf Course Fund. The recorded advance from the General Fund to the Golf Course Fund was removed as it was determined that repayment of the advance is not projected in the near or foreseeable future.
124
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{:city of
Carlsbad
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
788,078$ 793,090 $ 786,965$ 791,124$ 789,335$ 808,515$ 183,245 182,811 194,434 206,067 212,636 191,967 6,527 7,307 8,025 8,967 9,225 9,635 40,528 41,500 43,588 44,885 40,988 41,413 1,805 1,640 1,524 - 2 - - 2,818 2,800 4,329 5,444 6,251 6,254 249,816 262,023 289,000 286,386 249,699 3 263,633 1,272,817$ 1,291,171 $ 1 ,327,865$ 1 ,342,873$ 1,308,134 $ 1,321,417 $ 344,836$ 349,548$ 346,628 $ 351,153 $ 361,477$ 355,487$ 40,098 39,522 38,540 41,244 41,462 38,949 85,153 88,576 97,509 94,140 149,954 3 151,766 470,087$ 477,646 $ 482,677 $ 486,537 $ 552,893$ 546,202$ 1,132,914$ 1 ,142,638$ 1 ,133,593$ 1,142,277$ 1 ,150,812$ 1,164,002 $ 223,343 222,333 232,974 247,311 254,098 230,916 6,527 7,307 8,025 8,967 9,225 9,635 40,528 41,500 43,588 44,885 40,988 41,413 1,805 1,640 1,524 - 2 - - 2,818 2,800 4,329 5,444 6,251 6,254 334,969 350,599 386,509 380,526 399,653 415,399 1,742,904$ 1,768,817 $ 1 ,810,542$ 1 ,829,410$ 1 ,861,027$ 1 ,867,619$ 125
April 4, 2023
Item #5 Page 158 of 195
Changes in Net Position
Last Ten Fiscal Years
(dollars in thousands)
2012-13 2013-14 2014-15 2015-16
Expenses
Governmental activities
General government 23,574$ 20,187$ 16,108$ 16,147$ Public safety 48,468 48,942 48,856 50,463 Community services 47,900 45,341 48,630 51,191 Public works 36,806 30,314 36,273 37,464 Interest and fiscal charges on long-term debt 4 1 - 1 Total governmental activities 156,752 144,785 149,867 155,266 Business-type activities
Carlsbad Municipal Water District 41,626 43,547 40,897 39,458 Golf course 10,668 11,032 10,538 10,545 Wastewater 13,556 12,488 12,629 12,613 Solid waste 2,918 2,856 2,973 2,997 Total business-type activities 68,768 69,923 67,037 65,613 Total government 225,520$ 214,708$ 216,904$ 220,879$ Program Revenues
Governmental activities
Charges for services:

General government 1,469$ 289$ 1,382$ 296$ Public safety 4,025 3,950 4,220 3,980 Community services 6,987 8,732 10,534 10,711 Public works 5,073 3,720 4,014 4,152 Operating grants and contributions 13,199 11,919 12,242 11,912 Capital grants and contributions 17,741 16,129 19,105 12,042 2 Total governmental activities 48,494 44,739 51,497 43,093 Business-type activities
Charges for services:

Carlsbad Municipal Water District 44,240 46,750 47,461 39,854 3 Golf course 6,278 6,635 6,709 6,988 Wastewater 12,402 12,896 12,875 12,963 Solid waste 3,060 3,320 3,245 3,206 Operating grants and contributions 38 90 59 5,646 Capital grants and contributions 2,855 3,198 5,879 2,011 Total business-type activities 68,873 72,889 76,228 70,668 Total government 117,367$ 117,628$ 127,725$ 113,761$ Net (Expense)/Revenue:

Governmental activities (108,258)$ (100,046)$ (98,370)$ (112,173)$ Business-type activities 105 2,966 9,191 5,055 Total government net expense (108,153)$ (97,080)$ (89,179)$ (107,118)$ 126
April 4, 2023
Item #5 Page 159 of 195
Ccityof
Carlsbad
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
18,374$ 25,192$ 5 22,234$ 24,267 $ 20,003 $ 14,806 $ 55,994 62,630 5 67,968 75,249 80,295 81,130 54,212 51,897 57,978 60,771 57,654 58,954 34,317 36,875 36,897 41,419 35,481 39,204 3 2 4 2 - 14 162,900 176,596 185,081 201,708 193,433 194,108 45,219 51,658 51,638 51,198 56,319 53,598 10,211 10,560 11,035 10,252 10,280 11,708 12,626 13,495 15,238 16,931 9,063 17,905 3,272 3,089 3,840 4,382 5,086 4,738 71,328 78,802 81,751 82,763 80,748 87,949 234,228$ 255,398 $ 266,832 $ 284,471 $ 274,181 $ 282,057 $ 327$ 816 $ 1,679 $ 1,030 $ 1,260$ 627 $ 4,647 4,805 4,784 4,711 5,020 5,899 12,154 11,588 10,755 9,324 8,080 8,671 3,952 3,768 4,574 4,142 5,662 4 ,247 12,630 13,054 17,307 18,437 26,459 20,382 22,789 22,993 13,842 16,802 9,565 9,922 56,499 57,024 52,941 54,446 56,046 49,748 44,817 50,095 46,431 46,332 49,668 49,194 7,119 7,973 7,979 6,637 8,108 10,424 13,467 13,885 14,099 13,849 14,027 16,282 3,302 3,427 3,440 3,563 3,387 3,684 2,471 1,611 1,260 399 3,484 183 13,322 5,484 4,864 6,327 7,601 858 84,498 82,475 78,073 77,107 86,275 80,625 140,997$ 139,499$ 131,014$ 131,553$ 142,321$ 130,373$ (106,401)$ (119,572)$ (132,140)$ (147,262)$ (137,387)$ (144,360)$ 13,170 3,673 (3,678) (5,656) 5,527 (7,324) (93,231)$ (115,899)$ (135,818)$ (152,918)$ (131,860)$ (151,684)$ (continued)
127
April 4, 2023
Item #5 Page 160 of 195
Changes in Net Position (continued)
Last Ten Fiscal Years
(dollars in thousands)
2012-13 2013-14 2014-15 2015-16
General Revenues and Other Changes in Net Position
Governmental activities
T a x e s :

Property taxes 52,861 $ 52,608 $ 55,992 $ 58,945 $ Sales and use taxes 28,403 30,520 32,146 34,843 Transient occupancy taxes 14,702 17,472 19,713 20,943 Franchise taxes 5,118 4,907 5,427 5,632 Business license taxes 3,834 4,177 4,548 4,895 Real property transfer taxes 1,058 1,080 1,406 1,546 Vehicle license fees 55 - - - Income from property and investments 1,792 6,917 4,564 11,910 4 Other general revenues 426 429 609 486 Extraordinary gain/(loss) - (10,289) 1 - - Special items-Golf Course debt - - - - Transfers (656) (1,188) (1,264) (1,240) Total governmental activities 107,593 106,633 123,141 137,960 Business type activities
Property taxes 2,904 2,897 3,133 3,306 Income from property and investments 555 2,498 1,870 3,163 Other general revenues 85 99 623 39 Transfers 655 1,188 1,264 1,240 Special items-Golf Course debt - - - - Total business-type activities 4,199 6,682 6,890 7,748 Total government 111,792 $ 113,315 $ 130,031 $ 145,708 $ Change in Net Position
Governmental activities (665) $ 6,587 $ 24,771 $ 25,787 $ Business-type activities 4,304 9,648 16,081 12,803 Total government 3,639 $ 16,235 $ 40,852 $ 38,590 $ Source: City of Carlsbad Annual Comprehensive Financial Report s 1 2
3 The decrease in FY 2015-16 was a result of a decrease in water sales during the fiscal year from drought conservation measures . 4 5
6 7
8 Decrease in investment income for FY 2021-22 is due to the requ ired fair value adjustment at fiscal year end (per GASB 31).

Fund to the Golf Course Fund was removed as it was determined that repayment of the advance is not projected in the near or fo reseeable future.

The increase in FY 2015-16 is a result of higher cash balances that generate interest, an increase in investment earnings, and interest received The increase in FY 2017-18 is mainly due to changes in the city 's pension discount rate.

The decrease is FY 2020-21 in income from property and investme nts was caused by unrealized losses created by adjusting the city's In FY 2020-21 a transfer of $47 million was made from the General Fund to the Golf Course Fund. The recorded advance from the General Successor Housing Agency per California state mandate.

Poinsettia Fire, as well as the receipt of retroactive mandated cost reimbursements. from the California Department of Finance earned on unpaid mand ated costs. investments to fair market value at June 30, 2021 and a decrease in the average yield on the treasurer's portfolio for the year.

The extraordinary loss in FY 2013-14 resulted from the restatem ent of accrued interest on prior year advances made by the city to the The decrease in FY 2015-16 was a result of one-time funds recei ved from the federal government in the previous fiscal year for the 2014 128
April 4, 2023
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Ccityof
Carlsbad
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
63,988$ 66,524$ 69,952$ 73,885$ 78,239$ 81,012$ 33,999 33,674 38,510 36,491 42,579 51,175 22,267 24,233 26,320 18,898 15,584 32,403 5,475 5,812 6,100 5,864 5,774 6,371 4,328 5,026 5,322 5,414 5,705 6,619 1,393 1,463 1,715 1,247 1,786 2,179 - - - - - - 1,975 2,551 20,695 20,239 5,036 6 (22,063) 8 451 519 439 559 516 1,262 - - - - - - - - - - (8,427) 12 - (15,067) (136) (219) (303) (47,273) 12 (1,316) 118,809 139,666 168,834 162,294 99,519 157,642 3,569 3,743 4,002 4,226 4,491 4,715 749 986 7,784 4,963 639 6 (7,656) 8 370 3 113 - - 2,258 15,067 136 219 303 47,273 7 1,316 - - - - 8,427 7 - 19,755 4,868 12,118 9,492 60,830 633 138,564$ 144,534 $ 180,952 $ 171,786 $ 160,349 $ 158,275 $ 12,408$ 20,094 $ 36,694 $ 15,032 $ (37,868) $ 13,282 $ 32,925 8,541 8,440 3,836 66,357 (6,691) 45,333$ 28,635 $ 45,134 $ 18,868 $ 28,489 $ 6,591 $ 129
April 4, 2023
Item #5 Page 162 of 195
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(dollars in thousands)
2012-13 2013-14 2014-15 2015-16 2016-17
General Fund
Nonspendable 57,719$ 56,707$ 56,381$ 55,324$ 53,751$ Committed 1,000 1,000 1,000 1,000 1,000 Assigned 26,200 27,838 40,865 42,692 38,439 Unassigned 69,578 75,615 80,274 94,404 78,191 Total General Fund 154,497$ 161,160$ 178,520$ 193,420$ 171,381$ All Other Governmental Funds
Nonspendable
Special revenue funds 435$ 430$ 3$ 4$ 1$ Capital project funds - - - - - Restricted
Special revenue funds 61,938 66,833 66,300 51,013 2 51,677 Capital project funds 167,009 1 157,712 1 161,499 176,280 2 183,245 Assigned
Capital project funds 121,861 131,627 136,237 131,939 146,994 Unassigned
Special revenue funds - - - - - Capital project funds - - - - - Total all other governmental funds 351,243$ 356,602 $ 364,039 $ 359,236 $ 381,917 $ Source: City of Carlsbad Annual Comprehensive Financial Reports 1 The large decreases in the restricted fund balance in the capital projects fund is a result of increased expenditures during FY 2012-13 and 2013-14 for the construction of Alga Norte Community Park. 2 Beginning in FY 2015-16, the Gas Tax fund balance was reclassified from a Special Revenue fund to a Capital Project fund. 3 In FY 2019-20, the General Fund advanced money to the Habitat Mitigation Fund, a Special Revenue fund, to be repaid to the General Fund once funds are available.
4 In FY 2020-21 a transfer of $47 million was made from the General Fund to the Golf Course Fund. The recorded advance from the General Fund to the Golf Course Fund was removed as it was determined that repayment of the advance is not projected in the near or foreseeable future. 130
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{city of
Carlsbad
2017-18 2018-19 2019-20 2020-21 2021-22
51,628$ 49,608$ 49,008$ 3,446$ 4 2,211$ 1,000 1,000 1,000 1,000 1,000 43,855 33,367 30,733 56,115 48,982 82,570 101,701 110,122 99,260 109,946 179,053$ 185,676$ 190,863$ 159,821$ 162,139$ 1$ 1$ 1$ 1$ 3$ - - - 157 53,246 57,465 59,295 56,465 57,302 182,812 194,434 206,067 212,635 191,967 151,306 162,139 165,267 166,206 164,349 - - (234) 3 (228) (17) - - - - (885) 387,365$ 414,039$ 430,396$ 435,079$ 412,876$ 131
April 4, 2023
Item #5 Page 164 of 195
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(dollars in thousands)
2012-13 2013-14 2014-15 2015-16
Revenues:

Taxes 109,447$ 114,996$ 123,411$ 2 129,617$ Intergovernmental 11,513 10,602 10,359 11,290 Licenses and permits 2,016 2,184 2,369 2,467 Charges for services 10,261 11,278 13,181 12,913 Fines and forfeitures 861 876 837 854 Income from property and investments 2,362 7,604 6,442 9,970 Contributions from property owners 12,029 9,042 10,688 8,009 Donations 411 210 440 417 Miscellaneous 1,969 1,219 2,550 1,503 Total revenues 150,869 158,011 170,277 177,040 Expenditures:

Current:

General government 23,072 21,471 17,903 17,221 Less: Interdepartmental charges (3,858) (3,566) (3,807) (3,471) Public safety 46,162 47,333 48,915 52,015 Community services 40,899 41,505 44,501 46,298 Public works 11,299 15,442 16,350 17,465 Capital outlay 28,602 18,702 20,050 34,669 Debt service:

Princ
ipal retirement 316 159 - - Interest and fiscal charges 6 5 5 6 Total expenditures 146,498 141,051 143,917 164,203 Excess (deficiency) of revenues
over (under) expenditures 4,371 16,960 26,360 12,837 Other financing sources (uses):

Transfers in 8,087 11,477 14,857 9,970 Transfers out (14,792) (16,415) (16,420) (12,710) Proceeds from sale of capital asset - - - - Proceeds from leases - - - - Total other financing sources (uses) (6,705) (4,938) (1,563) (2,740) Net change in fund balances (2,334)$ 12,022$ 24,797$ 10,097$ Debt service as percentage of noncapital
expenditures1 0.24% 0.13% 0.00% 0.00%
Source: City of Carlsbad Annual Comprehensive Financial Reports 1 Noncapital expenditures are total expenditures less capital outlay (to the extent capitalized for the Government-wide Statement 2 3
4 Increase in investment income for FY 2018-19 is due to an increase in the average yield on the investment portfolio for the year as well as an 5 Increase in public safety expenditures in FY 2018-19 is due to a voluntary $14.2 million additional payment to CalPERS to reduce the city's 6 Decrease in tax revenue for sales and transient occupancy taxes for FY 2020-21 is due to the effects of the COVID-19 pandemic and 7 Decrease in investment income for FY 2021-22 is due to the required fair value adjustment done on investments at fiscal year end (per GASB 31). unfunded pension liability in the safety plan.
resulting stay at home orders on sales and transient occupancy taxes. of Net Position) and expenditures for capitalized assets included within the functional expenditure categories.

Increase in taxes in FY 2014-15 due to growth in property and TOT taxes. during FY 2016-17.
increase due to the required fair value adjustment done on investments at fiscal year end (per GASB 31).

Includes a transfer out to the Golf Course Fund in the amount of $14.8 million for the defeasance of the golf course construction bonds 132
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{_city of
Carlsbad
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
134,165$ 141,118$ 154,673$ 147,535$ 6 155,462$ 184,832$ 11,963 11,608 14,647 15,505 23,653 20,933 3,034 2,999 2,668 2,739 2,399 3,233 14,309 14,145 13,221 11,525 11,615 14,959 740 679 581 760 429 346 3,845 4,622 23,275 4 24,989 7,018 ( 20,118) 7 13,330 12,898 10,301 6,623 5,850 3,200 349 332 1,385 426 321 381 1,467 1,991 3,316 2,641 1,786 1,262 183,202 190,392 224,067 212,743 208,533 209,028 27,925 26,625 24,033 25,762 22,450 22,433 (3,345) (3,160) (4,581) (5,052) (5,146) (5,315) 57,329 58,568 77,550 5 70,997 78,731 82,225 48,930 49,039 52,951 56,931 53,267 59,491 17,349 17,220 18,380 19,995 19,991 22,056 17,603 26,885 20,703 22,171 21,390 47,015 -
- 10 10 11 8 3 5 7 5 12 17 15 165,796 175,194 189,051 190,827 190,708 227,923 17,406 15,198 35,016 21,916 17,825 (18,895) 20,849 11,513 11,881 11,183 9,760 25,974 (37,613) 3 (13,590) ( 13,600) ( 11,486) ( 57,073) ( 27,189) - - - - - 200 - - - - - 25 (16,764) (2,077) (1,719) (303) (47,313) (990) 642$ 13,121$ 33,297$ 21,613$ (29,488)$ (19,885)$

0.00% 0.01% 0.01% 0.01% 0.01% 0.01%
133
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General Governmental Tax Revenues by Source
Last Ten Fiscal Years
(dollars in thousands)
Fiscal Year
Property
Tax *
Sales and
Use Taxes
Transient
Occupancy
Taxes
Franchise
Taxes
Business
License
Taxes
Real
Property
Transfer
Taxes Gas Tax
Total Tax
Revenue
2012-13 52,888 $ 29,301$ 14,702$ 5,118$ 3,834$ 1,058$ 2,546$ 109,447$ 2013-14 52,607 31,464 17,472 4,907 4,178 1,080 3,288 114, 996 2014-15 55,992 1 33,202 19,713 2 5,427 4,548 1,406 3,123 123, 411 2015-16 58,946 35,232 20,943 5,632 4,895 1,545 2,424 129, 617 2016-17 63,988 1 34,543 22,267 3 5,475 4,328 1,393 2,171 134, 165 2017-18 66,523 34,972 24,234 4 5,812 5,026 5 1,463 3,088 6 141,118 2018-19 69,952 40,795 7 26,320 6,100 5,322 1,715 4,469 154, 673 2019-20 73,889 37,585 8 18,898 8 5,864 5,414 1,247 4,638 147, 535 2020-21 78,247 43,726 15,584 8 5,774 5,705 1,786 4,640 155, 462 2021-22 81,012 51,175 32,403 6,371 6,619 2,179 5,073 184, 832 Percentage change from FY 2012-13 to FY 2021-22:
53% 75% 120% 24% 73% 106% 99% 69%
1 Reflects improvement in the housing market and new construction. 2 The increase in TOT in FY 2014-15 is due to the openings of several new hotels and higher occupancy and room rates throughout the city. 3 The increase in TOT in FY 2016-17 is due to higher room rates throughout most of the city's hotels and an increase in available rooms. 4 The increase in TOT in FY 2017-18 is due to higher room rates throughout most of the city's hotels and an opening of a new hotel. 5 The increase in Business License Taxes in FY 2017-18 is due to a significant number of delinquent payments being collected. 6 The increase in Gas Taxes in FY 2017-18 is due to new ongoing allocations received from the state's Road Maintenance and Rehabilitation Account. 7 The increase in Sales and Use Taxes in FY 2018-19 is due to overall growth and the ending of the state's sales and use tax "triple flip" in FY 2017-18. 8 The decreases in tax revenue for sales tax for FY 2019-20 and transient occupancy taxes for FY 2019-20 and FY 2020-21 is due to the effects of the COVID-19 pandemic and resulting stay at home orders on sales and transient occupancy taxes. * Property Tax category also includes Vehicle License Fees (VLF) in lieu, property tax increment and CFD No. 1 special taxes.

Source: City of Carlsbad Annual Comprehensive Financial Reports $0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-2 0 2020-21 2021-22 Total General Governmental Tax Revenues - Last Ten Fiscal Years (in thousands)
Property Tax Sales and Use Taxes TOT Other
134
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{_city of
Carlsbad
■ ■ ■ ■
Water and Wastewater Rates
Last Ten Fiscal Years
Wastewater
Fiscal Year
Monthly Delivery
Charge
Base Price Per
Unit1
Monthly Base
Rate
2012-13 $21.38 $3.20 $25.02
2013-14 20.07 3.19 25.52
2014-15 21.08 3.35 26.03
2015-16 22.19 3.53 27.81
2016-17 24.11 3.84 27.81
2017-18 24.72 3.94 27.81
2018-19 24.72 3.94 27.81
2019-20 25.02 4.04 28.66
2020-21 25.52 4.13 29.52
2021-22 27.81 3.84 35.93
Source: City of Carlsbad
1 Water
Note: Rates shown are for a 5/8" meter, which is the standard household meter size.

One unit of water equals 748 gallons. The base price shown is for tier 1, which applies to the first 12 units of usage per month at a single family residence. 135
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{city of
Carlsbad
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136
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Assessed Value of Taxable Property
Last Ten Fiscal Years
(dollars in millions)
Fiscal
Year
Residential
Property
Commercial
Property
Industrial
Property
Exemptions
and Other
Taxable
Property1
Net
Assessed
Valuation
Change
From Prior
Year
Estimated
Property Tax
Revenue2
Total Direct
Tax Rate3
2012-13 17,222$ 3,237 $ 1,884 $ 614 $ 22,957$ -0.11% 44 $ 0.1927% 2013-14 17,774 3,298 1,871 580 23,523 2.47 45 0.1927 2014-15 19,450 3,603 1,847 589 25,489 8.36 49 0.1927 2015-16 20,431 3,973 1,909 612 26,925 5.63 52 0.1927 2016-17 21,472 4,238 2,092 622 28,424 5.57 55 0.1927 2017-18 22,707 4,355 2,378 555 29,995 5.53 58 0.1927 2018-19 24,077 4,528 2,541 490 31,636 5.47 61 0.1927 2019-20 25,379 4,964 2,673 640 33,656 6.39 65 0.1927 2020-21 26,507 5,224 2,809 677 35,217 4.64 68 0.1927 2021-22 27,697 5,325 2,883 457 36,362 3.25 70 0.1927 1 Other property includes farm, rural, institutional, recreational, state secured property, unsecured property, personal proper ty and fixtures. 2 Estimated property tax revenues do not include special assessments, redevelopment tax increment or community facilities district revenues. 3 The total direct tax rate is the city's proportionate share of Proposition 13 property taxes collected within the tax rate area.

Source: County of San Diego, California Auditor and Controller's Office Notes: Information about estimated actual value of property is not available; the assessed value is based on the most recent sales value and includes secured property only.
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 Taxable Assessed Property Value
Last Ten Fiscal Years
(in millions)
Residential Property Commercial Property Industrial Property 137
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{ city of
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■ ■ ■
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(rate per $100 of assessed value)
Fiscal
Year
City of
Carlsbad
Total Direct
Rate2
Carlsbad
Unified
School
District
San Diego
County
Educational
Revenue
Augmentation
Fund
Mira Costa
Community
College
Tri City
Hospital
District
All Other
Rates
Total Prop
13 Rate3
Voter
Approved
Debt4
Total Tax
Rate5
2012-13 0.1927% 0.3412% 0.1576% 0.1497% 0.0937% 0.0198% 0.0453% 1.0000% 0.0768% 1.0768% 2013-14 0.1927 0.3412 0.1576 0.1497 0.0937 0.0198 0.0453 1.0000 0.0743 1. 0743 2014-15 0.1927 0.3412 0.1576 0.1497 0.0937 0.0198 0.0453 1.0000 0.0710 1. 0710 2015-16 0.1927 0.3412 0.1576 0.1497 0.0937 0.0198 0.0453 1.0000 0.0681 1. 0681 2016-17 0.1927 0.3412 0.1576 0.1497 0.0937 0.0198 0.0453 1.0000 0.0563 1. 0563 2017-18 0.1927 0.3412 0.1576 0.1497 0.0937 0.0198 0.0453 1.0000 0.0791 1. 0791 2018-19 0.1927 0.3412 0.1576 0.1497 0.0937 0.0198 0.0453 1.0000 0.0758 1. 0758 2019-20 0.1927 0.3412 0.1576 0.1497 0.0937 0.0198 0.0453 1.0000 0.1015 1. 1015 2020-21 0.1927 0.3412 0.1576 0.1497 0.0937 0.0198 0.0453 1.0000 0.0999 1. 0999 2021-22 0.1927 0.3412 0.1576 0.1497 0.0937 0.0198 0.0453 1.0000 0.0961 1. 0961 1 Area 09000 was chosen as the most representative for the city. 2 The city has no general obligation bonds; therefore the Basic Tax Rate is the same as the Total Direct Tax Rate. 3 In 1978, California voters passed Proposition 13 which limited property taxes to a total maximum rate of 1.00% based on the assessed value of each property being taxed. This 1.00% is shared by all taxing agencies within a tax rate area.

Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only reassessed at the time that it is sold to a new owner. At that point, the purchase price of the property becomes the new assessed value.
4 The majority of voter approved debt is related to various school district and hospital bonds. 5 The Total Tax Rate is the 1.00% Proposition 13 rate plus the Voter Approved Debt rate.

Allocation of 1% Ad Valorem Property Taxes
Overlapping Rates for Tax Rate Area 090001
Source: County of San Diego, California Auditor and Controller's Office The tax rate history above is for Tax Rate Area 09000, which has the highest total assessed value of the all the tax rate areas in the city. Tax Rate 138
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Direct and Overlapping Property Tax Rates (continued)
Last Ten Fiscal Years
(rate per $100 of assessed value)
Total Tax
Rates1
County
Tax Rate
Areas2
Carlsbad
Unified
Schools
Oceanside
Unified
Schools
San Marcos
Unified
Schools
Vista
Unified
Schools
Encinitas
Union
Schools
Mira Costa
Comm.

College
Palomar
Comm.

College
Palomar
Health
District
MWD /
SDCWA3
Total Voter
Approved
Rates4

1.0586% 1 0.0000% 0.0000% 0.0000% 0.0000% 0.0452% 0.0134% 0.0000% 0.0000% 0.0000% 0.0586%

1.0621 35 - - - - 0.0452 0.0134 - - 0.0035 0.0621

1.0681 3 - - - - 0.0452 - 0.0194 - 0.0035 0.0681

1.0716 1 - - 0.0547 - - 0.0134 - - 0.0035 0.0716

1.0776 24 - - 0.0547 - - - 0.0194 - 0.0035 0.0776

1.0926 3 0.0792 - - - - 0.0134 - - - 0.0926

1.0961 54 0.0792 - - - - 0.0134 - - 0.0035 0.0961

1.0972 5 - - - 0.0743 - - 0.0194 - 0.0035 0.0972

1.1021 3 0.0792 - - - - - 0.0194 - 0.0035 0.1021

1.1096 1 - - 0.0547 - - 0.0134 - 0.0380 0.0035 0.1096

1.1156 11 - - 0.0547 - - - 0.0194 0.0380 0.0035 0.1156

1.1341 1 0.0792 - - - - 0.0134 - 0.0380 0.0035 0.1341

1.1372 1 - 0.1203 - - - 0.0134 - - 0.0035 0.1372 1 The Total Tax Rate is the 1.00% Proposition 13 rate plus the Vo ter Approved Debt rate. 2 Tax rate areas are determined by the County of San Diego. There are currently thirteen tax rates distributed among the 146 tax rate areas of the city.

The table above shows the number of tax rate areas affected by each of the rates. 3 MWD is the Metropolitan Water District and SDCWA is the San Diego County Water Authority. 4 The majority of voter approved debt is related to various schoo l district and hospital bonds.

Fiscal Year 2021-22 Voter Approved Debt Tax Rates for all Rate Areas Source: County of San Diego, California Auditor and Controller 's Office 139
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{city of
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Principal Property Taxpayers
Current Year and Nine Years Ago
Taxpayer
Taxable Assessed
Value Rank
Percentage
of Total City
Net
Assessed
Value
Taxable Assessed
Value Rank
Percentage
of Total City
Net
Assessed
Value
Poseidon Water Desalination Plant 416,869,887$ 1 1.15% - $ 0.00% La Costa Glen Retirement Community 281,090,008 2 0.77 234,163,899 1 1.02 Legoland California, LLC 256,511,543 3 0.71 125,802,730 5 0.55 La Costa Resort & Spa 251,767,575 4 0.69 154,321,673 3 0.67 The Forum Shopping Center 208,723,461 5 0.57 179,700,000 2 0.78 Levine Investments Limited Partnership 184,578,441 6 0.51 The Shoppes at Carlsbad 180,395,889 7 0.50 104,159,802 8 0.45 La Costa Town Center, LLC 164,340,698 8 0.45 Grand Pacific Carlsbad LP 140,267,931 9 0.39 Carlsbad Premium Outlets 133,481,605 10 0.37 116,909,403 7 0.51 Park Hyatt Aviara Resort 150,408,827 4 0.66 Pacific View Apartments 121,088,079 6 0.53 HG Fenton Company 80,699,051 9 0.35
Waterstone Apartment Homes 79,560,000 10 0.35 Total 2,218,027,038$ 6.10% 1,346,813,464 $ 5.87% Net assessed valuation 36,362,069,240$ 22,956,650,306 $ Source: County of San Diego, California Assessor's Office 2022 2013
140
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{city of
Carlsbad
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal Year
Total Tax Levy for
Fiscal Year1 Amount2
Percentage of
Levy
Collections in
Subsequent Years Amount
Percentage of
Levy
2012-13 $54,469,819 $53,677,921 98.55% $575,391 $54,253,312 99.60% 2013-14 55,883,499 55,042,944 98.50 527,304 55,570,248 99.44 2014-15 60,266,230 59,509,285 98.74 551,957 60,061,242 99.66 2015-16 63,363,527 62,595,504 98.79 496,883 63,092,387 99.57 2016-17 67,116,590 66,233,111 98.68 575,028 66,808,139 99.54 2017-18 70,221,876 69,383,391 98.81 556,947 69,940,338 99.60 2018-19 74,560,530 73,518,065 98.60 596,675 74,114,740 99.40 2019-20 78,446,259 77,076,471 98.25 915,465 77,991,936 99.42 2020-21 82,787,902 81,504,185 98.45 638,410 82,142,595 99.22 2021-22 86,318,392 84,678,789 98.10 N/A 84,678,789 98.10 1 Includes real property transfer taxes, homeowner exemptions and Proposition 172 public safety sales taxes. 2 Total collections include secured, unsecured, homeowners' exception and supplementary amounts distributed by the county.

Collections within the
Fiscal Year of the Levy Total Collections to Date
Source: County of San Diego, California Auditor and Controller's Office $0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
2012-13 2013-14 2014-15 2015-16 2016-1 7 2017-18 2018-19 2019-20 2020-21 2021-22 Property Tax Levies & Collections
Last Ten Fiscal Years
(in millions)
Total Tax Levy for Fiscal Year1 Total Collections to Date 141
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142
April 4, 2023
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Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(dollars in thousands except per capita)
Fiscal
Year Leases Loans Payable
Bonds/
Special Debt1
Installment
Purchase
Agreements Loan Payable2 Capital Leases Total
Percentage of
Personal
Income
Per
Capita
2012-13 - $ 159 $ 17,237 $ 1,697 $ 21,335 $ - $ 40,428 $ 0.92% 373.48 $ 2013-14 - - 16,645 905 19,837 - 37,387 0.77 339.36 2014-15 - - 16,260 - 18,429 - 34,689 0.71 313.49 2015-16 970 - 16,058 - 17,670 - 34,698 0.60 307.25 2016-17 784 - - 4 - 15,901 - 16,685 0.28 146.71 2017-18 588 - - - 14,944 - 15,532 0.24 135.51 2018-19 378 - - - 16,827 - 17,205 0.25 149.30 2019-20 156 - - - 15,327 - 15,483 0.25 135.27 2020-21 - - - - 13,750 - 13,750 0.18 119.05 2021-22 22 - - - 12,444 - 12,466 0.14 107.85 Notes: Details regarding the city's outstanding debt can be found in the notes to the financial statements.

Sources: MuniServices, LLC, California Department of Finance and US Census Data Governmental Activities Business-Type Activities
1 Bond/Special Debt is net of amortized premiums.
2 The State Water Resources Control Board issued low interest loans for the Carlsbad Water Recycling Facility in 2005, 2006 and 2014. Varying amounts of principal and interest are due annually. Payments are funded from recycled water user fees. 3 During FY 2006-07, Carlsbad Municipal Golf Course Revenue Bonds were issued for $18.5 million. 4 The Carlsbad Municipal Golf Course Revenue Bonds were defeased during FY 2016-17. $373
$339 $313 $307
$147 $136 $149 $135 $119 $108
$0
$200
$400
$600
2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 Outstanding Debt per Capita
Last Ten Fiscal Years
(in dollars)
143
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Item #5 Page 176 of 195
{city of
Carlsbad
Schedule of Direct and Overlapping Bonded Debt
Current Fiscal Year
Fiscal Year 2021-22 Assessed Valuation: $37,971,003,039 Redevelopment Incremental Valuation: 1,608,993,799
Adjusted Assessed Valuation: $36,362,009,240
Total Debt City’s Share of
Overlapping Tax and Assessment Debt: 06/30/22 Debt 6/30/22 Metropolitan Water District 20,175,000$ 1.12% 226,767 $ Mira Costa Community College District 291,380,000 27.59 80,377,173 Palomar Community College District 655,840,155 2.69 17,642,100 Carlsbad Unified School District 293,223,501 98.17 287,857,511 Carlsbad Unified School District Community Facilities District No 1 1,100,000 100.00 1,100,000 Oceanside Unified School District 286,410,665 0.00 11,456 Vista Unified School District 247,299,882 0.76 1,886,898 Encinitas Union School District 44,196,583 29.97 13,246,158 San Marcos Unified School District 273,680,421 17.84 48,819,113 San Marcos Unified School District CFD No. 4 13,420,000 32.76 4,395,721 San Marcos Unified School District CFD No. 5 11,720,000 100.00 11,720,000 San Dieguito Union High School District 434,285,000 8.83 37,451,637 San Dieguito Union HS District CFD No. 94-2 23,320,000 98.34 22,933,588 San Dieguito Union HS District CFD No. 95-2 5,600,000 8.81 493,528 Palomar Health District 408,228,082 1.66 6,788,833 Olivenhain Municipal Water District, Assess. Dist. No. 96-1 5,470,000 23.50 1,285,341 City of Carlsbad CFD No. 3, I.A. No. 1 & No. 2 17,190,000 100.00 17,190,000 City of Carlsbad 1915 Act Bonds 24,935,000 100.00 24,935,000 Total Overlapping Tax and Assessment Debt 3,057,474,289$ 578,360,824 $ Source: MuniServices, LLC and County of San Diego, California Auditor and Controller's Office 1 Percentage of overlapping agency's assessed valuation located within boundaries of the city.

Percent
Applicable1
144
April 4, 2023
Item #5 Page 177 of 195
(_ City of
Carlsbad
Schedule of Direct and Overlapping Bonded Debt (continued) Current Fiscal Year
Total Debt City’s Share of
Overlapping General Fund Obligation Debt: 06/30/22 Debt 6/30/22 San Diego County General Fund Obligations 245,340,000$ 6.29% 15,434,339 $ San Diego County Pension Obligation Bonds 340,825,000 6.29 21,441,301 San Diego County Superintendent of Schools General Fund Obligations 7,780,000 6.29 489,440 Palomar Community College District General Fund Obligations 1,440,000 2.69 38,736 Carlsbad Unified School District General Fund Obligations 61,600,000 98.17 60,472,720 San Marcos Unified School District General Fund Obligations 70,463,687 17.84 12,569,312 Vista Unified School District Certificates of Participation 39,095,000 0.76 298,295 San Dieguito Union High School District General Fund Obligations 12,730,000 8.83 1,123,677 Total Overlapping General Fund Obligation Debt 779,273,687$ 111,867,820 $ Overlapping Tax Increment Debt (Successor Agency): 1,950,000 100.00 1,950,000 2 Total Overlapping Debt: 3,838,697,976$ 692,178,644 $ City of Carlsbad Direct Debt:

City of Carlsbad Governmental Activities Obligations 22,377$ 100.00 22,377$ Total City of Carlsbad Direct Debt 22,377$ 22,377 $ Combined Total Debt 3,838,720,353$ 692,201,021 $ 3 Source: MuniServices, LLC and County of San Diego, California Auditor and Controller's Office 1 Percentage of overlapping agency's assessed valuation located within boundaries of the city. 2 Created by the dissolution of the Redevelopment Agency in FY 2011-12. 3 Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and tax allocation bonds.

Ratios to FY 2021-22 Assessed Valuation:

Total Overlapping Tax and Assessment Debt 1.59%
Ratios to FY 2021-22 Adjusted Assessed Valuation:

Governmental Activities Direct Debt 0.0001%
Combined Total Debt 1.90%
Percent
Applicable1
Shd l f i d
145
April 4, 2023
Item #5 Page 178 of 195
( city of
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Direct and Overlapping Debt
Last Ten Fiscal Years
(rate per $1,000 of assessed value)
2012-13 2013-14 2014-15
Overlapping Tax and Assessment Debt:

Metropolitan Water District 0.080$ 0.062$ 0.049$ Mira Costa Community College District - - - Palomar Community College District 0.375 0.361 0.562 Carlsbad Unified School District 8.312 7.921 7.073 Carlsbad Unified School District CFD No. 1 0.103 0.052 - Oceanside Unified School District 0.001 - - Vista Unified School District 0.031 0.028 0.025 Encinitas Union School District 0.454 0.426 0.385 San Marcos Unified School District 1.711 2.248 2.087 San Marcos Unified School District Facility Improvement District 0.076 0.057 0.035 San Marcos Unified School District CFD No. 4 0.230 0.292 0.254 San Marcos Unified School District CFD No. 5 0.918 0.864 0.690 San Dieguito Union High School District 0.621 0.607 0.967 San Dieguito Union HS District CFD No. 94-1 0.004 0.004 0.003 San Dieguito Union HS District CFD No. 94-2 1.082 1.032 0.928 San Dieguito Union HS District CFD No. 95-2 0.022 0.023 0.021 San Dieguito Union HS District combined CFD - - - Palomar Health District 0.353 0.336 0.308 Olivenhain Municipal Water District, Assess. Dist. No. 96-1 0.138 0.139 0.031 City of Carlsbad CFD No. 3, I.A. No. 1 & No. 2 1.045 1.000 0.903 City of Carlsbad 1915 Act Bonds 2.107 2.018 1.727 Total Overlapping Tax and Assessment Debt 17.663$ 17.470$ 16.048$ Overlapping General Fund Obligation Debt:

San Diego County General Fund Obligations 1.070$ 0.983$ 0.857$ San Diego County Pension Obligation Bonds 2.017 1.865 1.664 San Diego City Superintendent of Schools General Fund Obligations 0.047 0.042 0.036 Mira Costa Community College District Certificates of Participation 0.028 0.023 0.018 Palomar Community College District General Fund Obligations 0.006 0.006 0.005 Carlsbad Unified School District General Fund Obligations 1.967 2.086 1.846 San Marcos Unified School District General Fund Obligations 0.458 0.441 0.407 Vista Unified School District Certificates of Participation 0.001 0.001 0.001 San Dieguito Union High School District General Fund Obligations 0.051 0.049 0.047 Other Unified School District Certificates of Participation - - - Total Overlapping General Fund Obligation Debt 5.645$ 5.496$ 4.881$ Overlapping Tax Increment Debt (Successor Agency): 0.376$ 0.341 $ 0.290 $ Total Overlapping Debt: 23.684 23.307 21.219 City of Carlsbad Direct Debt:

City of Carlsbad Governmental Activities Obligations 0.007 - - Total City of Carlsbad Direct Debt 0.007$ - $ - $ Combined Total Debt 23.691$ 23.307$ 21.219$ Source: MuniServices, LLC and County of San Diego, California Auditor and Controller's Office 146
April 4, 2023
Item #5 Page 179 of 195
C Cityof
Carlsbad
2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22

0.039$ 0.030 $ 0.023 $ 0.017 $ 0.013 $ 0.009 $ 0.006 $ - - 0.918 0.750 0.590 2.414 2.210

0.520 0.619 0.571 0.530 0.493 0.498 0.485

6.370 5.816 5.298 7.474 6.944 8.861 7.916 - - 0.051 0.045 0.039 0.035 0.030 - - - - - - -

0.022 0.024 0.018 0.028 0.027 0.027 0.052

0.515 0.551 0.506 0.461 0.421 0.389 0.364

1.922 1.797 1.706 1.571 1.521 1.414 1.343

0.027 0.020 0.014 0.009 0.004 - -

0.232 0.199 0.146 0.164 0.146 0.132 0.121

0.626 0.566 0.404 0.456 0.404 0.360 0.322

0.906 1.031 0.925 0.956 0.925 1.087 1 .030

0.003 0.003 - - - - -

0.855 0.983 0.736 0.800 0.736 0.678 0.631

0.019 0.017 0.017 0.018 0.017 0.015 0.014 - - - - - - -

0.285 0.258 0.212 0.228 0.212 0.196 0.187

0.102 0.091 0.079 0.069 0.058 0.040 0.035

0.836 0.750 0.684 0.623 0.561 0.513 0.473

1.564 1.379 1.240 1.024 0.892 0.786 0.686

14.843$ 14.134$ 13.548$ 15.223$ 14.003$ 17.454$ 15.905$

0.709$ 0.648$ 0.572$ 0.510$ 0.436$ 0.379$ 0.424$

1.497 1.347 1.168 1.016 0.860 0.716 0.590

0.031 0.025 0.023 0.020 0.018 0.015 0.013

0.014 0.119 0.005 0.001 - - -

0.004 0.003 0.002 0.002 0.001 0.001 0.001

1.692 1.598 1.447 1.313 1.176 1.065 1.663

0.376 0.378 0.459 0.421 0.401 0.368 0.346

0.001 0.001 - - - - 0.008

0.044 0.041 0.039 0.036 0.034 0.032 0.031 - - - - - - -

4.368$ 4.160$ 3.715$ 3.319$ 2.926$ 2.576$ 3.076$

0.250$ 0.212$ 0.177$ 0.143$ 0.110$ 0.090$ 0.058$

19.461 18.506 17.440 18.685 17.039 20.120 19.039

0.036 0.028 0.020 0.012 0.005 - 0.001

0.036$ 0.028$ 0.020$ 0.012$ 0.005$ -$ 0.001$

19.497$ 18.534$ 17.460$ 18.697$ 17.044$ 20.120$ 19.040$ 147
April 4, 2023
Item #5 Page 180 of 195
Legal Debt Margin Information
Last Ten Fiscal Years
(dollars in thousands)
2012-13 2013-14 2014-15 2015-16
Net assessed valuation 22,956,650$ 23,522,746$ 25,489,468$ 26,924,891$ Debt limit (25% x 15%) 860,874 882,103 955,855 1,009,683 Less amount of debt applicable to limit:

Bonded debt 17,005 16,645 16,260 15,855 Loan payable 159 - - - Lease obligations - - - 970 Total net debt applicable to limit 17,164 16,645 16,260 16,825 Legal debt margin 843,710$ 865,458$ 939,595$ 992,858$ Total net debt applicable to the limit
as a percentage of debt limit 1.99% 1.89% 1.70% 1.67%
Source: City of Carlsbad Annual Comprehensive Financial Reports 1 The golf course bonds were defeased during FY 2016-17.

Note: Under state finance law, the city's outstanding general obligation debt should not exceed 15% (as adjusted by 25% per the law) of total assessed property value. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying general obligation bonds.

1.99% 1.89%

1.70% 1.67%

0.07% 0.05% 0.03% 0.01% 0.00% 0.00%

0.00%

1.00%

2.00%

3.00%

4.00%
2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 Percent of Debt Applicable to the Legal Debt Limit
Last Ten Fiscal Years
148
April 4, 2023
Item #5 Page 181 of 195
{ city of
Carlsbad
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
28,423,782$ 29,994,964$ 31,635,528$ 33,655,907$ 35,217,379$ 36,362,069,240$ 1,065,892 1,124,811 1,186,332 1,262,097 1,320,652 1,363,577,597 -
1 - - - - - - - - - - - 785 588 378 156 - 22 785 588 378 156 - 22 1,065,107$ 1, 124,223$ 1 ,185,954$ 1, 261,941$ 1 ,320,652$ 1, 363,577,575$

0.07% 0.05% 0.03% 0.01% 0.00% 0.00%
149
April 4, 2023
Item #5 Page 182 of 195
Pledged-Revenue Coverage
Last Ten Fiscal Years
2012-13 2013-14 2014-15 2015-16
Wastewater Revenue Bonds
Gross revenues 1, 5 12,599,601$ 13,699,286$ 13,723,835$ 13,723,835$ Less expenses 2, 5 7,094,310 6,989,194 7,249,798 7,249,798 Net available revenue 5,505,291$ 6,710,092$ 6,474,037$ 6,474,037$ Debt service
Principal 5 820,000$ 860,000 $ 905,000 $ 905,000 $ Interest 5 111,469 68,419 23,191 - Total debt service 931,469$ 928,419$ 928,191$ 905,000$ Coverage 5.91 7.23 6.97 7.15 Recycled Water Loans
Gross revenues 3 8,160,109$ 9,392,061 $ 9,210,258 $ 8,216,362 $ Less expenses 4 4,019,176 3,640,786 3,826,699 4,679,706 Net available revenue 4,140,933$ 5,751,275$ 5,383,559$ 3,536,656$ Debt service
Principal 1,343,498$ 1,375,337$ 1,407,932$ 1,441,301$ Interest 532,983 501,144 468,550 435,182 Total debt service 1,876,481$ 1,876,481$ 1,876,482$ 1,876,483$ Coverage 2.21 3.06 2.87 1.88 Golf Course Revenue Bonds
Gross revenues 1, 6 6,777,292$ 7,747,116 $ 8,428,375 $ 8,196,853 $ Less expenses 2, 6 5,954,896 6,125,159 6,302,019 6,273,320 Net available revenue 822,396$ 1,621,957$ 2,126,356$ 1,923,533$ Debt service
Principal 6 340,000$ 360,000 $ 385,000 $ 405,000 $ Interest 6 771,600 755,850 739,088 721,313 Total debt service 1,111,600$ 1,115,850$ 1,124,088$ 1,126,313$ Coverage 0.74 1.45 1.89 1.71 Source: City of Carlsbad Annual Comprehensive Financial Reports 1 Includes operating and non-operating revenues and transfers in from the General Fund. 2 Includes operating and non-operating expenses, excluding interest expense and depreciation. 5 Debt service on the wastewater revenue bonds was completed during FY 2015-16. 6 The golf course bonds were defeased during FY 2016-17. 3 Includes water (potable and recycled) operating and non-operating revenues and fees. In FY 2020-21 the State Water Resources Board confirmed the pledged revenue includes potable, which was excluded in prior years.
4 Includes water (potable and recycled) operating and non-operating expenses, excluding interest expense and depreciation. In FY 2020-21 the State Water Resources Board confirmed the pledged revenue includes potable, which was excluded in prior years.
150
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Item #5 Page 183 of 195
( City of
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2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
-$ - $ - $ - $ - $ - $ - - - - - - -$ - $ - $ - $ - $ - $ -$ - $ - $ - $ - $ - $ - - - - - - -$ - $ - $ - $ - $ - $ n/a n/a n/a n/a n/a n/a
8,371,467$ 9,869,958$ 8,198,882$ 7,557,893$ 56,446,838$ 3,4 56,363,973$ 4,863,054 5,559,509 6,472,817 5,926,215 50,079,801 3,4 53,308,298 3,508,413$ 4,310,449 $ 1,726,065 $ 1,631,678 $ 6,367,037 $ 3,055,675 $ 1,475,461$ 1,510,433 $ 1,546,234 $ 1,582,886 $ 1,620,408 $ 1,658,821 $ 401,021 366,049 330,248 293,596 256,074 217,661 1,876,482$ 1,876,482 $ 1,876,482 $ 1,876,482 $ 1,876,482 $ 1,876,482 $

1.87 2.30 0.92 0.87 3.39 1.63 -$ - $ - $ - $ - $ - $ - - - - - - -$ - $ - $ - $ - $ - $ -$ - $ - $ - $ - $ - $ - - - - - - -$ - $ - $ - $ - $ - $ n/a n/a n/a n/a n/a n/a
151
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Demographic and Economic Statistics
Last Ten Fiscal Years
Year
Total
Population
% of S.D.

County
Population
% Change from
Previous Year
% High
School
Graduate
% Bachelor's
Degree or
Higher Median Age
2012-13 108,246 3.44% 0.53% 88.5% 35.4% 39.3
2013-14 110,169 3.45 1.78 95.6 51.3 40.3
2014-15 110,653 3.43 0.44 96.0 51.9 41.1
2015-16 112,930 3.43 2.06 95.6 54.8 42.1
2016-17 113,725 3.43 0.70 95.8 54.2 41.9
2017-18 114,622 3.43 0.79 95.7 55.0 42.3
2018-19 115,241 3.44 0.54 95.7 58.1 42.6
2019-20 114,463 3.42 -0.68 95.0 59.5 44.4
2020-21 115,501 3.48 0.91 95.2 59.5 42.9
2021-22 115,585 3.52 0.07 97.1 60.4 41.8
Sources: MuniServices, LLC
Population projections are from the California Department of Finance 2 Unemployment increase in FY 2019-20 is due to the COVID-19 pandemic.

Educational Attainment
1 Personal income is the estimated total aggregate income for the total population.

Unemployment rate estimates are from the California Employment Development Department, Bureau of Labor Statistics.

Household and demographic characteristics estimates are from the United States Census Data Sets Tables. 152
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{city of
Carlsbad
Average
Household
Size
Personal
Income
(millions) 1
Per Capita
Personal
Income
City
Unemployment
Rate

2.63 4,403$ 40,672$ 5.9%

2.53 4,862 44,134 6.30

2.30 4,907 44,345 4.30

2.68 5,741 50,838 5.20

2.58 6,060 53,285 4.20

2.60 6,496 56,675 3.00

2.60 6,889 59,780 2.60

2.60 6,101 53,300 13.50 2

2.38 7,751 67,111 8.11

2.39 8,910 77,085 2.40
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Principal Employers
Current Fiscal Year and Nine Years Ago
Employer Industry Employees Rank
% of Total City
Employment Employees Rank
% of Total City
Employment
ViaSat, Inc. Information Technology 4,213 1 5.40% 1,510 2 2.44% Legoland California Hospitality/Tourism 2,300 2 2.95% 1,422 4 2.29% Thermo Fisher Scientific Life Sciences 2,332 3 2.99%
Carlsbad Unified School District Education 1,094 4 1.40% 903 7 1.46% Omni La Costa Resort & Spa Hospitality/Tourism 900 5 1.15% 932 6 1.50% City of Carlsbad Government 783 6 1.00% 675 9 1.09%
Gemological Institute of America Research/Education 771 7 0.99% 794 8 1.28% Ionis Parmaceuticals Life Sciences 671 8 0.86%
Park Hyatt Aviara Hospitality/Tourism 648 9 0.83%
TaylorMade Golf Company Action Sports 514 10 0.66% 954 5 1.54% Callaway Golf Company Action Sports 1,637 1 2.64%
Life Technologies Life Sciences 1,454 3 2.35%
Zimmer Dental, Inc Manufacturing 673 10 1.09%
Subtotal Employees 14,226 18.24% 10,954 17.67%
Total Employees Citywide (estimate) 78,000 62,000
Source: City of Carlsbad Business License Data
Fiscal Year 2021-22 Fiscal Year 2012-13
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( city of
Carlsbad
Authorized Full-Time and 3/4-Time City Government Employees by Program Area Last Ten Fiscal Years
Program Area 2012-13 2013-14 2014-15 2015-16
Policy and Leadership Group
City Attorney 7.00 7.00 7.00 7.00 City Clerk Services 6.00 5.00 5.00 5.00 City Council 1.00 1.00 1.00 1.00 City Manager 7.00 7.00 7.00 7.00 City Treasurer 0.75 0.75 0.75 0.75 Communications & Engagement 2.75 2.75 4.75 1 5.00 Administrative Services
Administration - - - - Finance 30.50 31.50 31.50 32.50 Human Resources 9.00 9.00 11.00 11.00 Information Technology 22.50 22.50 22.50 19.50 Innovation & Economic Development - - - - Public Safety
Police 161.00 161.00 162.00 168.00 Fire 87.75 88.00 89.00 89.00 Community Services
Community Services Administration - - - - Community Development 47.00 44.00 44.00 44.00 Housing & Homeless Services 10.00 10.00 12.00 13.00 Library & Cultural Arts 51.25 51.25 50.25 1 50.50 Parks & Recreation 68.40 67.60 61.60 1 58.15 Public Works
Construction Management & Inspection - - - - Environmental Management - - - 8.50 2 Fleet & Facilities - - - - General Services 39.55 40.60 39.90 28.10 2 Public Works Administration - - - 8.05 2 Transportation 54.40 53.40 55.90 57.35 2 Utilities 67.65 65.40 64.60 60.85 2 Limited Term Personnel (Full-Time) 1.00 2.00 - 3.75 Total Full Time Authorized Employees 674.50 669.75 669.75 678.00 Net Increase/(decrease) over prior year (9.75) (4.75) - 8.25 Source: City of Carlsbad Operating Budget
Notes: Table Includes both full-time and 3/4 time employees A full-time employee is scheduled to work 2,080 hours per year (including vacation and sick-leave).

A 3/4 time employee is scheduled to work 1,560 hours per year (including vacation and sick-leave). 1 During FY 2014-15, the Policy and Leadership and Community Services divisions were reorganized. 2 During FY 2015-16, FY 2016-17, FY 2019-20 and FY 2020-21, the Public Works division restructured divisions. 3 During FY 2018-19, Police IT was consolidated with city IT, resulting in the transfer of 5.0 FTEs. 4 During FY 2018-19, Housing & Neighborhood Services was combined with Community Development. 5 During FY 2020-21, employees were moved from City Manager and Community Development to create a new office of Innovation & Economic Development and Community Services Administration. 6 During FY 2021-22, Housing & Homeless Services was established. 156
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{city of
Carlsbad
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22

6.00 7 .00 7.00 8.00 8.00 8.00

5.00 6 .00 6.00 7.00 7.00 7.00

1.00 1 .00 1.00 2.00 2.00 2.00

8.00 8 .00 9.00 12.00 7.00 5 7.00

0.75 0 .75 0.75 1.00 1.00 1.00

5.00 5 .00 5.00 7.00 7.00 9.00 - - - - - 3.00

33.00 32.00 32.00 31.00 31.00 28.00

11.00 11.00 11.00 17.00 17.00 17.00

20.00 27.00 32.00 3 35.00 37.00 37.00 - - - 2.00 4.00 5 4.00 168.00 168.00 169.00 3 184.00 184.00 186.00

90.00 90.00 90.00 97.75 97.75 112.00 - - - - 3.00 5 3.00

44.00 44.00 58.00 4 63.00 61.75 5 53.00 6

13.00 13.00 - 4 - - 14.00 6

50.50 50.50 50.50 52.50 52.50 53.00

57.15 57.00 55.00 55.00 55.00 55.00 - - - - 15.20 2 15.20

9.50 2 9.70 9.60 11.05 11.95 17.95 - - - - 34.05 2 37.05

51.30 2 52.00 53.00 47.85 2 - -

9.85 2 12.30 7.65 7.60 7.85 7.85

33.00 2 32.00 35.00 44.15 2 41.75 41.75

60.20 2 59.00 61.75 62.10 61.95 63.95

6.75 7 .75 4.75 0.75 - - 683.00 693.00 698.00 747.75 747.75 782.75

5.00 10.00 5.00 49.75 - 35.00 157
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Operating Indicators by Function/Program
Last Ten Fiscal Years
2012-13 2013-14 2014-15 2015-16
General Government
Number of applications processed (full and part-time) 10,904 9,527 8,551 8,037 Number of external new hires (full and part-time) 151 284 299 260 Number of internal promotions / transfers (full-time only) 6 47 41 31 Business licenses processed 9,422 10,327 10,735 11,449 Number of outgoing payments processed 38,441 39,310 40,663 41,398 Public Safety
Police
Calls for service 90,122 87,976 91,314 92,061 Average priority one response (minutes) 5.8 5.8 6.5 6.1 Cases 8,314 8,296 8,349 9,253 Fire
Emergency responses 10,755 9,925 9,830 11,455 Response time: arrivals on scene within goal standard 71% 63% 63% 64% Community Development
Affordable housing units completed 59 - - - Financial assistance to affordable housing projects 7,408,000$ -$ 2,646,000$ -$ Building permits issued 1,500 1,400 1,600 3,000 Building inspections conducted 24,000 19,000 21,000 23,000 Final inspections (residential dwelling units) 440 190 200 200 Final inspections (commercial square feet) n/a 45,000 60,000 60,000 Code Enforcement Actions (activities) 4,943 4,794 5,389 10,994 Community Services
Library - total material circulation 1,348,333 1,369,369 1,293,282 1,103,090 Library - patron visits 821,045 791,533 804,003 609,679 3 Cultural Arts - number of events 50 62 80 88 Arts - attendance of events 80,000 75,000 87,000 85,000 Recreation - youth sports participants 1,200 2,292 1 1,000 1,000 Recreation - adult sports participants 5,200 5,600 6,150 5,600 Recreation - enrichment class enrollees 12,200 10,350 19,030 2 19,632 Recreation - special events participants 13,000 13,600 17,841 2 19,474 Recreation - aquatics classes conducted 575 1,018 1 1,224 684 Trees trimmed 1,936 1,920 2,018 1,965 Public Works
Streets
Centerline road miles resurfaced with overlay or slurry seal 24.3 14.8 18.1 20.0 Carlsbad Municipal Water District
Average consumption (millions of gallons per day) 15.4 15.9 14.6 12.1 Annual water deliveries (acre feet) 17,248 17,801 16,368 13,578 Water connections 28,947 29,045 29,190 29,190 Wastewater
Sewage pumped (millions of gallons per day) 6.65 6.53 5.90 6.17 Annual flow (millions of gallons) 2,426 2,384 2,152 2,252 Wastewater connections 22,955 23,282 23,431 23,431 Source: City of Carlsbad
1 Increases in the number of participants is the result of the opening of the Alga Norte Community Park in FY 2013-14. 2 Increases in the number of enrichment class and special events participants are the results of overall higher attendance and including recategorized classes previously not classified or included as enrichment classes or special events in prior years. 3 The decrease in patron visits is due to the temporary closures of library facilities for remodeling during FY 2015-16. 4 The decrease is due to the time involved with the implementation of a new licensing system during FY 2016-17. 5 Reporting of information is not available for FY 20167-17 due to the implementation of a new permitting system. 6 Beginning in FY 2016-17, 2,500 acre feet of contracted desalinated water is included in the water purchase totals. 7 FY 2019-20 and FY 2020-21 had decreases in some public facing programs and services due to the impacts of the COVID-19 pandemic. 158
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{city of
Carlsbad
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
9,544 9,455 8,495 8,012 5,469 6,578 292 311 345 248 198 376 58 44 66 66 24 79 8,142 4 11,267 9,546 10,180 10,164 9,736 41,304 41,869 43,520 44,128 41,164 41,315 84,858 90,760 99,562 112,323 110,448 107,156

5.9 5.8 5.7 5.5 5.2 5.2 8,884 8,643 8,705 8,774 8,222 8,704 12,183 12,520 12,833 13,331 12,345 13,837 78% 76% 76% 75% 75% 70%
- - - 157 119 48 1,280,000$ - $ - $ -$ 8,300,000$ 5,250,000$ 4,500 4,392 4,884 4,464 4,645 4,562 27,000 22,671 21,527 21,209 17,044 14,664 600 289 215 268 309 323 95,000 155,292 2,350,975 365,644 403,397 141,285 n/a 5 9,538 8,154 7,360 6,443 8,065 1,243,228 1,169,247 1,185,390 975,024 7 536,078 7 1,033,006 720,205 685,188 668,973 483,233 7 20,214 7 372,671 79 82 96 51 7 135 7 159 79,067 65,817 61,531 37,913 7 9,724 7 20,844 968 1,003 1,260 993 7 - 7 1,428 4,500 4,800 4,800 2,400 7 - 7 1,714 17,402 12,996 17,900 9,641 7 3,270 7 16,540 12,150 11,645 9,600 3,705 7 300 7 8,575 733 778 830 770 7 715 7 1,061 1,971 1,954 4,340 4,678 4,500 3,025

23.8 25.8 8.3 14.9 - 24.5

13.1 14.3 13.0 12.7 13.5 13.2 14,616 6 16,032 14,563 14,249 14,731 14,787 29,782 30,054 30,131 30,265 30,439 29,446

5.82 6.32 6.03 6.31 6.27 5.75 2,125 2,306 2,200 2,305 2,288 2,097 23,747 23,863 23,959 24,040 24,103 24,096 159
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Capital Asset Statistics
Last Ten Fiscal Years
2012-13 2013-14 2014-15 2015-16
Community Services
Number of parks and community fields 31 33 33 33 Acres of developed parks and community fields 183 281 319 319 Acres of open space and community fields 755 728 728 728 Miles of open space trails 47 47 47 47 Number of pools 1 3 3 3 Number of community centers 4 4 4 4 Number of libraries 3 3 3 3 Number of Materials in Library Collections 625,893 581,865 574,775 563,581 Public Safety
Fire Protection
Number of stations 6 6 6 6 Number of fire trucks 12 13 12 12 Number of ambulances 6 8 7 6 Number of other fire vehicles 15 16 15 18 Police Protection
Number of patrol and other vehicles 88 114 114 106 Number of motorcycles 13 13 14 15 Public Works
Carlsbad Municipal Water District
Miles of pipelines 534 534 534 559 Wastewater
Miles of sewers 288 288 288 288 Streets
Miles of streets 343 346 347 348 Number of street lights 7,179 7,236 7,262 7,265 Number of traffic signals 174 174 177 177 Source: City of Carlsbad
1 During FY 2018-19, the number of vehicles was updated to include both active and reserve vehicles. 2 In FY 2019-20, a change in the reporting methodology was implemented to include all first responder vehicles. 3 In FY 2019-20, only active lines were counted. Prior years included abandoned and future lines. 160
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( city of
Carlsbad
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
33 33 33 33 33 34 319 319 319 319 322 339 728 728 787 802 817 963 47 47 52 52 67 51 3 3 3 3 3 3 4 5 5 5 5 5 3 3 3 3 3 3 491,956 477,149 473,154 477,042 497,407 478,825
6 6 6 1 6 6 6 12 13 14 1 13 2 13 15 5 5 5 1 6 2 6 10 20 20 25 1 25 2 27 27 106 96 119 1 119 119 134 12 13 13 1 15 15 15 559 559 559 535 3 535 549 288 288 288 272 265 265 350 350 350 350 350 350 7,334 7,337 7,388 7,520 7,527 8,838 177 178 179 181 181 194 161
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Carlsbad City CouncilApril 4, 2023

Carlsbad City Council
April 4, 2023