REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
200|PAGE
7.F.f
Packet Pg. 664
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
ASSESSMENT DISTRICT 88-3 FUND Fund 347
Description: The Assessment District 88-3 Fund was establis hed to account for authorized projects within Assessment District 88-3.
Funding Sources: Revenues are generated from interest earnings (use of money and property). Original funding was provided by the Limited Obligation Improvement Bonds issued.
Fund Balance: Fund balance is projected to decrease $230,000, or -85.6%, to $38,625 as of June 30, 2024, and remain at $38,625 as of June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 273,437 268,625 268,625 0 38,625 -230,000
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property -4,813 00 00 0
Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources -4,813 00 00 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
O p e r a t i o n s 000 00 0
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 230,000 230,000 0 -230,000
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 0 0 230,000 230,000 0 -230,000 Net increas e (decreas e) -4,813 0 -230,000 -230,000 0 230,000 Ending Balance 268,625 268,625 38,625 -230,000 38,625 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
201|PAGE
7.F.f
Packet Pg. 665
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
ASSESSMENT DISTRICT 96-1 FUND Fund 348
Description: The Assessment District 96-1 Fund was establis hed to account for authorized projects within Assessment District 96-1.
Funding Sources: Revenues are generated from interest earnings (use of money and property). Original funding was provided by the Limited Obligation Improvement Bonds issued.
Fund Balance: Fund balance is projected to decrease $150,000, or -30.8%, to $337,467 as of June 30, 2024, and remain at $337,467 as of June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 487,467 487,467 487,467 0 337,467 -150,000
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 0 0 0 0 0 0
Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 0 0 0 0 0 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
O p e r a t i o n s 000 00 0
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 150,000 150,000 0 -150,000
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 0 0 150,000 150,000 0 -150,000 Net increas e (decreas e) 0 0 -150,000 -150,000 0 150,000 Ending Balance 487,467 487,467 337,467 -150,000 337,467 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
202|PAGE
7.F.f
Packet Pg. 666
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
ASSESSMENT DISTRICT 2001-01 FUND Fund 349
Description: The Assessment District 2001-01 Fund was establis hed to account for authorized projects within Assessment District 2001-01.
Funding Sources: Revenues are generated from interest earnings (use of money and property). Original funding was provided by the Limited Obligation Improvement Bonds issued.
Fund Balance: Fund balance of $117,729 is projected to have no significant change as of June 30, 2024, and June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 300,940 138,253 117,729 -20,524 117,729 0
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 0 0 0 0 0 0
Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 0 0 0 0 0 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
O p e r a t i o n s 000 00 0
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 162,687 20,524 0 -20,524 00
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 162,687 20,524 0 -20,524 00 Net increas e (decreas e) -162,687 -20,524 0 20,524 0 0 Ending Balance 138,253 117,729 117,729 0 117,729 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
203|PAGE
7.F.f
Packet Pg. 667
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
CFD RIO VISTA FUND Fund 351
Description: The CFD Rio Vista Fund was established to acco unt for authorized projects within the Rio Vista Community Facilities District (CFD).
Funding Sources: Revenues are generated from interest earnings (use of money and property). Original funding was provided by the Limited Obligation Improvement Bonds issued.
Fund Balance: Fund balance of $4,196 is projected to have no significant change as of June 30, 2024 and June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 4,196 4,196 4,196 0 4,196 0
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 0 0 0 0 0 0
Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 0 0 0 0 0 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
O p e r a t i o n s 000 00 0
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 0 0 0 0 0 0
Net increas e (decreas e) 0 0 0 0 0 0
Ending Balance 4,196 4,196 4,196 0 4,196 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
204|PAGE
7.F.f
Packet Pg. 668
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
ASSESSMENT DISTRICT 2003-01 FUND Fund 352
Description: The Assessment District 2003-01 Fund was establis hed to account for authorized projects within Assessment District 2003-01.
Funding Sources: Revenues are generated from interest earnings (use of money and property). Original funding was provided by the Limited Obligation Improvement Bonds issued.
Fund Balance: Fund balance of $842,214 is projected to have no significant change as of June 30, 2024 and June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 842,214 842,214 842,214 0 842,214 0
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 0 0 0 0 0 0
Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 0 0 0 0 0 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
O p e r a t i o n s 000 00 0
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 0 0 0 0 0 0
Net increas e (decreas e) 0 0 0 0 0 0
Ending Balance 842,214 842,214 842,214 0 842,214 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
205|PAGE
7.F.f
Packet Pg. 669
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
ASSESSMENT DISTRICT 2004-01 FUND Fund 353
Description: The Assessment District 2004-01 Fund was establis hed to account for authorized projects within Assessment District 2004-01.
Funding Sources: Revenues are generated from interest earnings (use of money and property). Original funding was provided by the Limited Obligation Improvement Bonds issued.
Fund Balance: Fund balance of $207,753 is projected to have no change as of June 30, 2024 and June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 207,753 207,753 207,753 0 207,753 0
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 0 0 0 0 0 0
Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 0 0 0 0 0 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
O p e r a t i o n s 000 00 0
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 0 0 0 0 0 0
Net increas e (decreas e) 0 0 0 0 0 0
Ending Balance 207,753 207,753 207,753 0 207,753 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
206|PAGE
7.F.f
Packet Pg. 670
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
ASSESSMENT DISTRICT 2004-02 FUND Fund 354
Description: The Assessment District 2004-02 Fund was establis hed to account for authorized projects within Assessment District 2004-02.
Funding Sources: Revenues are generated from interest earnings (use of money and property). Original funding was provided by the Limited Obligation Improvement Bonds issued and various grants.
Fund Balance: Fund balance is projected to decrease $400,000, or -95.4%, to $19,188 as of June 30, 2024, and remain at $19,188 as of June 30, 2025. As a result, t he decrease in fund balance in FY 2023/2024 is due to a budgeted capital expenditure.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 429,187 429,187 419,188 -9,999 19,188 -400,000
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 0 0 0 0 0 0
Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 0 0 0 0 0 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
Operations 0 9,999 0 -9,999 00
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 400,000 400,000 0 -400,000
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 0 9,999 400,000 390,001 0 -400,000 Net increas e (decreas e) 0 -9,999 -400,000 -390,001 0 400,000 Ending Balance 429,187 419,188 19,188 -400,000 19,188 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
207|PAGE
7.F.f
Packet Pg. 671
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
PROPRIETARY AND CUSTODIAL FUNDS
Proprietary (Internal Service) Funds:
Equipment Replacement Fund (Fund 611)
Insurance Fund (Fund 612)
Technology Fund (Fund 613)
Facilities Fund (Fund 614)
Custodial Funds:
Assessment District 96-1 Fund (Fund 448)
Assessment District 2001-01 Fund (Fund 449)
Rio Vista CFD Fund (Fund 451)
Assessment District 03-01 Fund (Fund 452)
Assessment District 04-01 Fund (Fund 453)
Assessment District 04-02 Fund (Fund 454)
208|PAGE
7.F.f
Packet Pg. 672
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
EQUIPMENT REPLACEMENT FUND Fund 611
Description: The Equipment Replacement Fund was established to account for the purchase of new capital equipment and replacing department vehicles.
Funding Sources: Revenues are generated from interdepartmental charges (charges for services) and interest earnings (use of money and property).
Fund Balance: Fund balance is projected to decrease $3,500,198, or -31.2%, to $7,726,859 as of June 30, 2024 and decrease another $650,774, or -8.4%, to $7,076,085 as of June 30, 2025. The decrease in fund balance is due to increased capital outlay expenditures.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 10,379,877 11,091,133 11,227,057 135,924 7,726,859 -3,500,198
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
Charges for services 1,238,253 844,047 897,902 53,855 743,216 -154,686 Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property -114,011 00 00 0
Other revenues 88,210 21,877 0 -21,877 00
Transfers in 268,718 70,000 224,900 154,900 99,010 -125,890 Total Revenues and Other Sources 1,481,170 935,924 1,122,802 186,878 842,226 -280,576
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
Operations 769,914 800,000 995,000 195,000 1,055,000 60,000 D e b t s e r v i c e 000 00 0
Capital outlay 0 0 3,628,000 3,628,000 438,000 -3,190,000 CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 769,914 800,000 4,623,000 3,823,000 1,493,000 -3,130,000 Net increas e (decreas e) 711,256 135,924 -3,500,198 -3,636,122 -650,774 2,849,424 Ending Balance 11,091,133 11,227,057 7,726,859 -3,500,198 7,076,085 -650,774
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
209|PAGE
7.F.f
Packet Pg. 673
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
INSURANCE FUND Fund 612
Description: The Insurance Fund was established to account for costs related to the City’s insurance coverages, including employee and retiree benefits. Premium costs, self-insured claim losses, liability claims, and other administrative costs are reported in this fund.
Funding Sources: Revenues are generated from interdepartmental charges (charges for services) and interest earnings (use of money and property).
Fund Balance: Fund balance is projected to decrease $1,482,697, or -17.7%, to $6,877,782 as of June 30, 2024 and decrease another $1,557,408, or -22.6%, to $5,320,374 as of June 30, 2024. The decrease in fund balance is due to an increase in insurance costs and payments made to CalPERS for UAL payments.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 17,812,098 6,745,031 8,360,479 1,615,448 6,877,782 -1,482,697
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
Charges for services 9,971,136 15,157,371 16,701,629 1,544,258 17,806,200 1,104,571 Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property -138,435 00 00 0
Other revenues 2,186 0 100,000 100,000 100,000 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 9,834,886 15,157,371 16,801,629 1,644,258 17,906,200 1,104,571
EXPENDITURES AND OTHER USES
Salaries and benefits 18,285,549 10,871,454 13,460,326 2,588,872 14,439,608 979,282 Operations 2,523,177 2,662,909 4,524,000 1,861,091 4,924,000 400,000 D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 93,227 7,560 300,000 292,440 100,000 -200,000 Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 20,901,953 13,541,923 18,284,326 4,742,403 19,463,608 1,179,282 Net increas e (decreas e) -11,067,067 1,615,448 -1,482,697 -3,098,145 -1,557,408 -74,711 Ending Balance 6,745,031 8,360,479 6,877,782 -1,482,697 5,320,374 -1,557,408
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
210|PAGE
7.F.f
Packet Pg. 674
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
TECHNOLOGY FUND Fund 613
Description: The Technology Fund was established to account for costs related to future acquisition and replacement of technology software used throughout the City.
Funding Sources: Revenues are generated from interdepartmental charges (charges for services) and interest earnings (use of money and property).
Fund Balance: Fund balance is projected to decrease $62,085, or -3.7%, to $1,620,849 as of June 30, 2024 and decrease another $62,085, or -3.8%, to $1,558,764 as of June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 1,340,561 1,668,478 1,682,934 14,456 1,620,849 -62,085
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
Charges for services 237,149 28,041 30,000 1,959 30,000 0 Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 120,815 0 0 0 0 0
Use of money and property (16,462) 0 0 0 0 0 Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 341,503 28,041 30,000 1,959 30,000 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
Operations 13,585 13,585 92,085 78,500 92,085 0
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 13,585 13,585 92,085 78,500 92,085 0 Net increas e (decreas e) 327,917 14,456 -62,085 -76,541 -62,085 0 Ending Balance 1,668,478 1,682,934 1,620,849 -62,085 1,558,764 -62,085
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
211|PAGE
7.F.f
Packet Pg. 675
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FACILITIES FUND Fund 614
Description: The Facilities Fund was established to account for costs re lated to future replacement of major building components.
Funding Sources: Revenues are generated from interdepartmental charges (charges for services), rental income from City owned property, and interest earnings (use of money and property).
Fund Balance: Fund balance is projected to increase $43,000, or 1.0%, to $4,347,898 as of June 30, 2024 and increase another $43,000, or 1.0%, to $4,390,898 as of June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 3,690,306 4,271,698 4,304,898 33,200 4,347,898 43,000
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
Charges for services 600,000 0 0 0 0 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 16,698 73,200 78,000 4,800 78,000 0 Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 616,698 73,200 78,000 4,800 78,000 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
Operations 35,306 40,000 35,000 -5,000 35,000 0
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 35,306 40,000 35,000 -5,000 35,000 0 Net increase (decrease) 581,392 33,200 43,000 9,800 43,000 0 Ending Balance 4,271,698 4,304,898 4,347,898 43,000 4,390,898 43,000
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
212|PAGE
7.F.f
Packet Pg. 676
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
CUSTODIAL FUNDS
ASSESSMENT DISTRICT 96‐1 FUND (FUND 448)
This fund accounts for the receipt of special assessments and principal and interest payments on the Limited Obligation Improvement Bonds.
ASSESSMENT DISTRICT 2001‐01 FUND (FUND 449)
This fund accounts for the receipt of special assessments and principal and interest payments on the Limited Obligation Improvement Bonds.
RIO VISTA CFD FUND (FUND 451)
This fund accounts for the receipt of special assessm ents and principal and interest payments on the Rio Vista Community Facilities District bonds.
ASSESSMENT DISTRICT 03‐01 FUND (FUND 452)
This fund accounts for the receipt of special assessments and principal and interest payments on the Limited Obligation Improvement Bonds.
ASSESSMENT DISTRICT 04‐01 FUND (FUND 453)
This fund accounts for the receipt of special assessments and principal and interest payments on the Limited Obligation Improvement Bonds.
ASSESSMENT DISTRICT 04‐02 FUND (FUND 454)
This fund accounts for the receipt of special assessments and principal and interest payments on the Limited Obligation Improvement Bonds.
213|PAGE
7.F.f
Packet Pg. 677
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
SUCCESSOR AGENCY (PRIVATE‐PURPOSE TRUST FUNDS)
Successor Agency Redevelopment Obligation
Retirement Fund (Fund 530)
Successor Agency 2014 & 2021 A/B/C TABs Fund (Fund 536)
Successor Agency Administration Fund (Fund 540)
Successor Agency Other Fund (Fund 541)
Successor Agency 2007 Series A TAB Fund (Fund 550)
Successor Agency 2007 Series C TAB Fund (Fund 552)
214|PAGE
7.F.f
Packet Pg. 678
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
SUCCESSOR AGENCY REDEVELOPMENT OBL IGATION RETIREMENT FUND Fund 530
Description: With the dissolution of the Cathedral City Redevelopment Agency by the state of California, the Successor Agency Redevelopment Obligation Retirement Fund was established in FY 2011/2012. The City of Cathedral City opted to be the Successor Agency for winding down the former redevelopment agency’s affairs. This fund was established to account for the receipt of property tax revenues from Riverside County to pay for enforceable obligations.
Funding Sources: Revenues are generated from property taxes (taxes).
Fund Balance: Fund balance is projected to increase $493,920, or 4.1%, to $12,560,148 as of June 30, 2024 and increase another $10,000, or 0.1%, to $12,570,148 as of June 30, 2025. Fund balance represents monies received for the subsequent fiscal year.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 11,493,939 12,135,167 12,066,227 -68,940 12,560,148 493,920
REVENUES AND OTHER SOURCES
Taxes 15,258,072 14,930,746 15,246,125 315,379 14,766,895 -479,230 Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 0 0 0 0 0 0
Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Revenues and Other Sources 15,258,072 14,930,746 15,246,125 315,379 14,766,895 -479,230
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
Operations 20,393 20,000 30,000 10,000 30,000 0
D e b t s e r v i c e 000 00 0
C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 14,596,451 14,979,686 14,722,204 -257,482 14,726,895 4,690 Total Expenditures and Other Uses 14,616,844 14,999,686 14,752,204 -247,482 14,756,895 4,690 Net increas e (decreas e) 641,228 -68,940 493,920 562,860 10,000 -483,920 Ending Balance 12,135,167 12,066,227 12,560,148 493,920 12,570,148 10,000
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
215|PAGE
7.F.f
Packet Pg. 679
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
SUCCESSOR AGENCY 2014 & 2021 A/B/C TABs FUND Fund 536
Description: With defeasing certain former redevelopment age ncy’s bonds, the Successor Agency 2014 A/B/C TABs Fund was established in FY 2014/2015. This fund was established to account for the principal and interest payments on long-term debt associated with the 2014 Tax Allocation Bonds, Series A, B and C.
Subsequently, in January 2021, the Successor Agency to the RDA issued Tax Allocation Revenue Refunding Bonds, Series 2021A ($26,195,000), Tax Allocation Revenue Refunding Bonds, Series 2021B ($5,905,000) and Subordinate Taxable Tax Allocation Revenue Refunding Bonds, Series 2021C ($18,840,000). These bonds refunded the Cathedral City Public Financing Authority’s 2004 Tax Allocation Bonds, Series B; 2007 Tax Allocation Bonds, Series A; and 2007 Tax Allocation Bonds, Series C.
Funding Sources: Revenues are generated from interest earnings (use of money and property) and transfers of property taxes (transfers in) from the Successor Agency Redevelopment Obligation Retirement Fund.
Fund Balance: Fund balance is projected to increase $5,437,1 27, or 5.3%, to -97,792,516 as of June 30, 2024 and increase another $5,671,894, or 5.8%, to -92,120,621 as of June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance -116,466,607 -109,474,739 -103,229,643 6,245,096 -97,792,516 5,437,127
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 19 0 0 0 0 0
Other revenues 0 0 0 0 0 0
Transfers in 10,351,409 10,337,994 9,397,127 -940,867 9,401,894 4,767 Total Additions and Other Sources 10,351,428 10,337,994 9,397,127 -940,867 9,401,894 4,767
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
Operations 5,230 5,250 10,000 4,750 10,000 0
Debt service 3,354,330 4,087,648 3,950,000 -137,648 3,720,000 -230,000 C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Deductions and Other Uses 3,359,560 4,092,898 3,960,000 -132,898 3,730,000 -230,000 Net increas e (decreas e) 6,991,868 6,245,096 5,437,127 -807,968 5,671,894 234,767 Ending Balance -109,474,739 -103,229,643 -97,792,516 5,437,127 -92,120,621 5,671,894
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
216|PAGE
7.F.f
Packet Pg. 680
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
SUCCESSOR AGENCY ADMINISTRATION FUND Fund 540
Description: With the dissolution of the Cathedral City Redevelopment Agency by the state of California, the Successor Agency Administration Fund was established in FY 2011/2012. The City of Cathedral City opted to be the Successor Agency for winding down the former redevelopment agency’s affairs. This fund was established to account for the administration costs to be paid from the administrative allowance.
Funding Sources: Revenues are generated from transfers of property taxes (transfers in) from the Successor Agency Redevelopment Obligation Retirement Fund.
Fund Balance: Fund balance of $0.00 is projected to have no significant change as of June 30, 2024 and June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 0 0 0 0 0 0
REVENUES AND OTHER SOURCES
Taxes 000 00 0
Licenses and permits 0 0 0 0 0 0
Charges for services 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 0 0 0 0 0 0
Other revenues 0 0 0 0 0 0
Transfers in 250,000 250,000 250,000 0 250,000 0
Total Additions and Other Sources 250,000 250,000 250,000 0 250,000 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
Operations 000 00 0
Debt service 000 00 0
Capital outlay 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 250,000 250,000 250,000 0 250,000 0
Total Deductions and Other Uses 250,000 250,000 250,000 0 250,000 0 Net increas e (decreas e) 0 0 0 0 0 0
Ending Balance 0 0 0 0 0 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
217|PAGE
7.F.f
Packet Pg. 681
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
SUCCESSOR AGENCY OTHER FUND Fund 541
Description: With the dissolution of the Cathedral City Redevelopment Agency by the state of California, the Successor Agency Other Fund was established in FY 2011/ 2012. The City of Cathedral City opted to be the Successor Agency for winding down the former redevelopment agency’s affairs. This fund was established to account for the administration costs related to redevelopment projects.
Funding Sources: Revenues are generated from interest earnings and transfers of bond funds (transfers in).
Fund Balance: Fund balance is projected to decrease $1,623,646, or -8.0%, to -$21,919,217 as of June 30, 2024 and decrease another $1,753,537, or -8.0%, to -$23,672,755 as of June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance -17,934,904 -18,911,962 -20,295,572 -1,383,609 -21,919,217 -1,623,646
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 0 0 0 0 0 0
Other revenues 0 0 0 0 0 0
T r a n s f e r s i n 000 00 0
Total Additions and Other Sources 0 0 0 0 0 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
O p e r a t i o n s 000 00 0
Debt service 977,058 1,383,609 1,623,646 240,036 1,753,537 129,892 C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Deductions and Other Uses 977,058 1,383,609 1,623,646 240,036 1,753,537 129,892 Net increas e (decreas e) -977,058 -1,383,609 -1,623,646 -240,036 -1,753,537 -129,892 Ending Balance -18,911,962 -20,295,572 -21,919,217 -1,623,646 -23,672,755 -1,753,537
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
218|PAGE
7.F.f
Packet Pg. 682
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
SUCCESSOR AGENCY 2007 SERIES A TAB FUND Fund 550
Description: With the dissolution of the Cathedral City Redevelopment Agency by the state of California, the Successor Agency 2007 Series A TAB Fund was established in FY 2011/2012. The City of Cathedral City opted to be the Successor Agency for winding down the former redevelopment agency’s affairs. This fund was established to account for miscellaneous capital improvements in the 2006 Merged Redevelopment Project Area.
Funding Sources: Revenues are generated from interest earnings. Original funding was provided by the 2007 Tax Allocation Bonds, Series A issued.
Fund Balance Fund balance of $12,645 is projected to have no significant change as of June 30, 2024 and June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 156,870 52,920 12,645 -40,275 12,645 0
REVENUES AND OTHER SOURCES
Taxes 000 00 0
Licenses and permits 0 0 0 0 0 0
Charges for services 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 1,050 0 0 0 0 0
Other revenues 0 0 0 0 0 0
Transfers in 000 00 0
Total Additions and Other Sources 1,050 0 0 0 0 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
Operations 105,000 40,275 0 -40,275 00
Debt service 000 00 0
Capital outlay 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Deductions and Other Uses 105,000 40,275 0 -40,275 00 Net increas e (decreas e) -103,950 -40,275 0 40,275 0 0 Ending Balance 52,920 12,645 12,645 0 12,645 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
219|PAGE
7.F.f
Packet Pg. 683
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
SUCCESSOR AGENCY 2007 SERIES C TAB FUND Fund 552
Description: With the dissolution of the Cathedral City Redevelopment Agency by the state of California, the Successor Agency 2007 Series C TAB Fund was established in FY 2011/2012. The City of Cathedral City opted to be the Successor Agency for winding down the former redevelopment agency’s affairs. This fund was established to account for miscellaneous capital improvements in the 2006 Merged Redevelopment Project Area.
Funding Sources: Revenues are generated from interest earnings. Original funding was provided by the 2007 Tax Allocation Bonds, Series C issued.
Fund Balance: Fund balance is projected to decrease $11,610, or -100.00%, to $0.00 as of June 30, 2024 and remain at $0.00 as of June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 259,871 261,610 11,610 -250,000 -0 -11,610
REVENUES AND OTHER SOURCES
Taxes 000 00 0
Licenses and permits 0 0 0 0 0 0
Charges for services 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 1,739 0 0 0 0 0
Other revenues 0 0 0 0 0 0
Transfers in 000 00 0
Total Additions and Other Sources 1,739 0 0 0 0 0
EXPENDITURES AND OTHER USES
Salaries and benefits 0 0 0 0 0 0
Operations 0 250,000 11,610 -238,390 0 -11,610
Debt service 000 00 0
Capital outlay 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Deductions and Other Uses 0 250,000 11,610 -238,390 0 -11,610 Net increas e (decreas e) 1,739 -250,000 -11,610 238,390 0 11,610 Ending Balance 261,610 11,610 -0 -11,610 -0 0
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
220|PAGE
7.F.f
Packet Pg. 684
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
PUBLIC FINANCING AUTHORITY
Public Financing Authority Fund (Fund 491)
221|PAGE
7.F.f
Packet Pg. 685
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
PUBLIC FINANCING AUTHORITY FUND Fund 491
Description: The Public Financing Authority Fund was established to account for the repayment of principal and interest on lease revenue and tax allocation bonds issued.
Funding Sources: Revenues are generated from interest earnings (use of money and property) and transfers from other funds (transfers in).
Fund Balance: Fund balance is projected to decrease $1,320,452 or -3.8%, to $33,529,519 as of June 30, 2024 and decrease another $1,323,302, or -3.9%, to $32,206,217 as of June 30, 2025.
FY 2021/2022
Actual
FY 2022/2023
Projected
FY 2023/2024
Adopted
FY 23 to FY 24
$ Change
FY 2024/2025
Adopted
FY 24 to FY 25
$ Change
Beginning Balance 37,462,719 36,186,167 34,849,971 -1,336,196 33,529,519 -1,320,452
REVENUES AND OTHER SOURCES
T a x e s 000 00 0
Licenses and permits 0 0 0 0 0 0
C h a r g e s f o r s e r v i c e s 000 00 0
Special assessments 0 0 0 0 0 0
Fines and forfeitures 0 0 0 0 0 0
Intergovernmental revenue 0 0 0 0 0 0
Use of money and property 1,575,778 1,500,000 1,500,000 0 1,500,000 0 Other revenues 28,780,000 0 0 0 0 0
Transfers in 4,373,013 8,149,716 8,739,709 589,993 8,684,695 -55,014 Total Revenues and Other Sources 34,728,791 9,649,716 10,239,709 589,993 10,184,695 -55,014
EXPENDITURES AND OTHER USES
Salaries and benefits 26,128,585 0 0 0 0 0
Operations 523,096 3,800 5,000 1,200 5,000 0
Debt service 9,353,661 10,982,112 11,555,161 573,049 11,502,997 -52,164 C a p i t a l o u t l a y 000 00 0
CIP projects 0 0 0 0 0 0
Transfers out 0 0 0 0 0 0
Total Expenditures and Other Uses 36,005,342 10,985,912 11,560,161 574,249 11,507,997 -52,164 Net increas e (decreas e) -1,276,552 -1,336,196 -1,320,452 15,744 -1,323,302 -2,850 Ending Balance 36,186,167 34,849,971 33,529,519 -1,320,452 32,206,217 -1,323,302
REVENUES/EXPENDITURES/FUND BA LANCE SUMMARY
222|PAGE
7.F.f
Packet Pg. 686
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FIVE‐YEAR CAPITAL IMPROVEMENT PROJECT (CIP) PLAN
Capital Improvement Projec t (CIP) Plan – Descriptions
Capital Improvement Project (C IP) Plan – Capital Improvement Project Detail
Capital Improvement Project (CIP) Plan – Summary by Fund
223|PAGE
7.F.f
Packet Pg. 687
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
CAPITAL IMPROVEMENT PROJECT (CIP) PLAN - DESCRIPTIONS
The City’s Five-Year Capital Improvement Project (CIP) Plan is submitted to the City Council for review. The projects have been prioritized by those being planned for a given fi scal year. Projects included in the CIP budget are generally those with costs exceeding $50,000, lasting more than three months, and/or involving construction.
Capital projects are long-term improvement and maintenan ce programs designed to increase the City’s assets (physical systems and/or facilities) and preserve those already in place. The programs are broad, and can include land and building acquisitions, street and sidewalk rehabilitation, blow sand mitigation, interchange improvements, traffic signalization, sewer construction and park improvements and/or major renovations.
This document includes both capital improvement and c apital maintenance projects. Capital improvements boost economic development by attracting new businesses and new customers, which bring an increased vitality to the City. Because they are easily identified and are location sp ecific, capital improvements are often the most visible municipal activities.
Conversely, capital maintenance is a city service comm only taken for granted. Most users do not recognize the deterioration of a facility or roadway until significant damage has been done. This makes capital maintenance easy to postpone (deferred) when budgets are tight and demands for more visible City programs and services are high.
Delays in maintenance create greater costs in future y ears because expensive reconstruction or replacement of assets must be completed rather than the less expensive preservation efforts.
Projects increasing the number of facilities or expanding the existing facilities can impact ongoing operating costs for the City. Any operating impacts from projects expect ed to be completed prior to the start of or during FY 2023/2024 and FY 2024/2025 have been included in the operating budget, e.g., a new park. Most capital projects funded in FY 2023/2024 and FY 2024/2025 do not add to the cost of operations. Those projects are major replacements or maintenance projects for existing facilities or infrastructure.
There are no significant operating expenditures expected during the next two-year period for capital projects included in the Five-Year Capital Improvement Project (CIP) Plan.
The Five-Year Capital Improvement Project (CIP) Plan detail and the budget summary by fund for current and new projects are included on the pages following these project descriptions and funding sources.
224|PAGE
7.F.f
Packet Pg. 688
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
CURRENT PROJECTS – DESCRIPTIONS AND FUNDING SOURCES
C01016 – EDOM HILL TRUCK CLIMBING LANE
100% - Transfer Station Road Fund – 234
C02500 – RAMON ROAD BRIDGE AND ROADWAY WIDENING
100% - Areawide Capital Projects Fund – 331
o 88.53% Federal Funding
o 8.60% Grant Funding
o 2.87% City Funding
C07021 – DREAM HOMES PARK
100% - Areawide Capital Projects Fund – 331
o Grant Funding
C08504 – EAST PALM CANYON BIKE LANE
75% - Areawide Capital Projects Fund – 331
o Grant Funding
25% - General Fund – 100
o City MOE Match
C08505 – CATHEDRAL CANYON BIKE LANE AND SIDEWALK
75% - Areawide Capital Projects Fund – 331
o Grant Funding
25% - General Fund – 100
o City MOE Match
C08508 – DATE PALM DRIVE EAST BIKE LANE AND SIDEWALK
75% - Areawide Capital Projects Fund – 331
o Grant Funding
25% - General Fund – 100
o City MOE Match
C08509 – LOS GATOS ROAD DRAINAGE AT DATE PALM DRIVE
100% - Measure “A” Fund – 243
C08662 – LANDAU/MCCALLUM INTERSECTION
100% - RMRA Fund – 248
C08726 – JEFFERSON/I-10 INTERCHANGE
100% - Areawide Capital Projects Fund – 331
o Successor Redevelopment Funding
C08751 – HSIP 9B - VARNER/DATE PALM DRIVE SAFETY IMPROVEMENTS 100% - Areawide Capital Projects Fun
d – 331
o Federal Funding
C08752 – HSIP 9A - TEN INTERSECTION IMPROVEMENTS
100% - Areawide Capital Projects Fund – 331
o Federal Funding
225|PAGE
7.F.f
Packet Pg. 689
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
CURRENT PROJECTS – DESCRIPTIONS AND FUNDING SOURCES
C08753 – HSIP 10 - CROSSWALK AT RAMON ROAD AND AVENIDA LA PALOMA 100% - Areawide Capital Projects Fund – 331
o Federal Funding
o State Funding
C08840 – DATE PALM SOUTH OF RAMON AND NORTH OF GERALD FORD 75% - Areawide Capital Projects Fund – 331
o State Funding
o ACBCI Funding
25% - General Fund – 100
o City MOE Match
C08874
– EAST PALM CANYON WIDENING AND MUP
Master Underground Plan Fund – 232
Measure “A” Fund – 243
General Fund – 100
C08899
– VISTA CHINO BRIDGE
100% - Areawide Capital Projects Fund – 331
o Federal Funding
C08835 – VIA DE ANZA STREET REHAB II
100% - Community Development Block Grant Fund – 251
o Federal Funding
C08841
– VIA DE ANZA STREET REHAB III
100% - Community Development Block Grant Fund – 251
o Federal Funding
226|PAGE
7.F.f
Packet Pg. 690
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and NEW PROJECTS – DESCRIPTIONS AND FUNDING SOURCES
C0XXX1 – LANDAU PUBLIC ALLEYWAY RECONSTRUCTION
RMRA Fund – 248
C0XXX2 – WHITEWATER AREA BETWEEN 33RD AVE AND DINAH SHORE General Fund – 100
RMRA Fund – 248
Community Development Block Grant Fund – 251
C0XXX3 – OCOTILLO SQUARE NEIGHBORHOOD STREETS DESIGN
General Fund – 100
o City MOE Match
C0XXX4 – VICTORIA DRIVE REAS
RMRA Fund – 248
C0XXX5 – ASSESSMENT DISTRICT 85-1 STREET IMPROVEMENTS
General Fund – 100
o MOE Match
RMRA Fund – 248
Assessment District 85-1 Fund – 341
C0XXX6 – ASSESSMENT DISTRICT 86-5 STREET IMPROVEMENTS
RMRA Fund – 248
Assessment District 86-5 Fund – 344
C0XXX7 – RANORAMA PARK AREA STREET IMPROVEMENTS AVENIDA
MARAVILLA AND AVENIDA LA VISTA
• RMRA Fund – 248
C0XXX8 – DA VALL DRIVE PAVEMENT REHAB S/O RAMON
Measure “A” Fund – 243
C0XXX9 – EAST PALM CANYON REAS, AND EAST PALM CANYON – PEREZ RD TO AUTO CENTER DR Measure “A” Fund – 243
General Fund – 100
o MOE Match
C0XXX10 – CYPRESS RD/SANTORO DR DRAIN IMPROVEMENT
General Fund –100
o MOE Match
C0XX11 – VARNER ROAD, DATE PALM TO MOUNTAIN VIEW
Areawide Capital Projects Fund – 331
o CVAG Funding
General Fund – 100
o MOE Match
227|PAGE
7.F.f
Packet Pg. 691
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and NEW PROJECTS – DESCRIPTIONS AND FUNDING SOURCES
C0XX12 – CATHEDRAL CANYON CHANNEL EAST MULTIMODAL PATH
Developer Fees Fund – 235
General Fund – 100
o MOE Match
C0XX13 – DATE PALM DRIVE, I-10 TO VARNER
Areawide Capital Projects Fund – 331
o CVAG Funding
General Fund – 100
o MOE Match
C0XX14 – PAPAYA – SUNNY LANE AREA REAS
Measure “A” Fund – 243
C0XX15a – ASSESSMENT DISTRICT 88-3 STREET IMPROVEMENTS
Assessment District 88-3 Fund – 347
C0XX15b – PANORAMA NEIGHBORHOOD REAS
General Fund – 100
o MOE Match
C0XX16 – ASSESSMENT DISTRICT 2004-02 COVE CRACKS STREET IMPROVEMENTS
Assessment District 04-02 Fund – 354
C0XX17 – RIO VISTA BLOW SAND
ASSESSMENT DISTRICT 96-1
Solid Waste Fund – 246
C0XX18 – CATHEDRAL CANYON, PEREZ ROAD TO BRIDGE IMPROVEMENTS • General Fund – 100
o MOE Match
C0XX19 – DATE PALM DRIVE, EAST PALM CANYON TO GERALD FORD REAS General Fund – 100
o MOE Match
C0XX20 – PEREZ ROAD REAS
General Fund – 100
o MOE Match
C0XX21 – VARNER ROAD EAST OF BOB HOPE SLURRY
General Fund – 100
o MOE Match
C0XX22 – OCOTILLO SQUARE NEIGHBORHOOD STREETS PHASE I
Community Development Block Grant Fund – 251
o Federal Funding
228|PAGE
7.F.f
Packet Pg. 692
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
NEW PROJECTS – DESCRIPTIONS AND FUNDING SOURCES
C0XX23 – OCOTILLO SQUARE NEIGHBORHOOD STREETS PHASE II
Community Development Block Grant Fund – 251
o Federal Funding
C0XX24
– FUTURE CDBG NEIGHBORHOOD STREETS - TBD
Community Development Block Grant Fund – 251
o Federal Funding
C0XX25
– CV LINK TRAFFIC SIGNAL – CATHEDRAL CANYON AT CANYON SHORES Areawide Capital Projects Fund – 331
o CVAG Funding
C0XX26 – HSIP 11 PEDESTRIAN CROSSWALK/SIGNALS
Areawide Capital Projects Fund – 331
o CVAG Funding
o Unspecified
229|PAGE
7.F.f
Packet Pg. 693
Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
CAPITAL IMPROVEMENT PROJECT (CIP) PLAN – PROJECT DETAIL
FY 2023/2024 FY 2024/2025 FY 2025/2026 FY 2026/2027 FY 2027/2028 Project Title Project String Account Number
Remaining
Encumbrances
Proposed
Budget
Proposed
Budget
Proposed
Budget
Proposed
Budget
Proposed
Budget
CURRENT PROJECTS
EDOM HILL TRUCK CLIMBING C01016-CIP-DESIGN- 234-100-150-156-8600-8601- 16,379 172,079 - - - - EDOM HILL TRUCK CLIMBING C01016-CIP-CONSTRUCT- 234-100-150-156-8800-8802- - - - 6,231,000 - - RAMON RD BRIDGE C02500-CIP--- 331-100-150-156-0000-0000- 1,286,491 - - - - - RAMON RD BRIDGE C02500-CIP-ACBCI-CONSTRUCT- 331-100-150-156-8800-8802- - 320,000 830,000 - - - RAMON RD BRIDGE C02500-CIP-CONSTRUCT-MATCH- 331-100-150-156-8800-8802- - 100,000 400,000 - - - DREAM HOMES PARK C07021-CIP-DESIGN-GRANTMGMT- 331-100-150-156-8600-8601- 75,205 - - - - - DREAM HOMES PARK C07021-CIP-DESIGN- 331-100-150-156-8600-8601- 409,607 - - - - - DREAM HOMES PARK C07021-CIP-CONSTRUCT-GRANT- 331-100-150-156-8800-8802- - 2,588,553 5,177,106 - - - EAST PALM CYN BIKE LN C08504-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - 66,801 - - - - EAST PALM CYN BIKE LN C08504-CIP-CONSTRUCT-CVAG- 331-100-150-156-8800-8802- - 200,402 - - - - CATHEDRAL CYN BIKE LN & SIDEWALK C08505-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - 286,026 71,507 - - - CATHEDRAL CYN BIKE LN & SIDEWALK C08505-CIP-CONSTRUCT-CVAG- 331-100-150-156-8800-8802- - 858,078 214,520 - - - DATE PALM DR E BIKE LN & SIDEWALK C08508-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - 544,883 136,221 - - - DATE PALM DR E BIKE LN & SIDEWALK C08508-CIP-CONSTRUCT-CVAG- 331-100-150-156-8800-8802- - 1,634,649 408,662 - - - LOS GATOS RD - DATE PALM DRAINAGE IMPROVEMENT C08509-CIP-DESIGN-MEASURE A- 243-100-150-156-8600-8601- - 50,000 - - - - LOS G
ATOS RD - DATE PALM DRAINAGE IMPROVEMENT C08509-CIP-CONSTRUCT-MEASURE A- 243-100-150-156-8800-8802- - 250,000 - - - - LANDAU/MCCALLUM INTERSECTION C08662-CIP-DESIGN-- 248-100-150-156-8600-8601- 38,381 - - - - - LANDAU/MCCALLUM INTERSECTION C08662-CIP-CONSTRUCT--RMRA 248-100-150-156-8800-8802- - 715,000 - - - - JEFFERSON/I-10 C08726-CIP--- 331-100-150-156-8800-8802- 179,317 179,317 - - - - HSIP 9B VARNER/DATE PALM SAFETY IMPROVEMENT C08751-CIP-DESIGN-- 331-100-150-156-8600-8601- 11,197 - - - - - HSIP 9B VARNER/DATE PALM SAFETY IMPROVEMENT C08751-CIP-CONSTRUCT- 331-100-150-156-8800-8802- - 895,200 - - - - HSIP 9A 10 INTERSECTION IMPROVEMENT C08752-CIP-CONSTRUCT- 331-100-150-156-8800-8802- - 1,070,500 700,000 - - - HSIP10 PEDESTRIAN RAMON AT AVENIDA LA PALOMA C08753-CIP-DESIGN-PROF SVCS- 331-100-150-156-8600-8601- 33,372 550,000 - - - - HSIP10 PEDESTRIAN RAMON AT AVENIDA LA PALOMA C08753-CIP-CONSTRUCT- 331-100-150-156-8800-8802- - 638,300 - - - - DATE PALM S/O RAMON N/O GERALD FORD C08840-CIP-DESIGN-GEN FUND- 100-100-150-156-8600-8601- 251,443 25,000 - - - - DATE PALM S/O RAMON N/O GERALD FORD C08840-CIP-STATE-CONSTRUCT- 331-100-150-156-8800-8802- - 70,000 - - - - DATE PALM S/O RAMON N/O GERALD FORD C08840-CIP-CONSTRUCT-ACBCI- 331-100-150-156-8800-8802- - 5,000,000 - - - - EAST PALM CYN WIDENING & MUP C08874-CIP-DESIGN-GEN FUND- 100-100-150-156-8600-8601- 18,808 - - - - - EAST PALM CYN WIDENING & MUP C08874-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - - 59,773 - - -
EAST PALM CY
N WIDENING & MUP C08874-CIP-CONSTRUCT-MEASURE A- 243-100-150-156-8800-8802- - - 690,227 - - - EAST PALM CYN WIDENING & MUP C08874-CIP-DESIGN- 232-100-150-156-8600-8601- - 80,000 - - - - EAST PALM CYN WIDENING & MUP C08874-CIP-CONSTRUCT- 232-100-150-156-8800-8802- - - 750,000 - - - VISTA CHINO BRIDGE C08899-CIP-DESIGN-MATCH- 331-100-150-156-8600-8601- 27,572 - - - - - VISTA CHINO BRIDGE C08899-CIP-DESIGN-GEN FUND- 100-100-150-156-8600-8601- - - - - - - VISTA CHINO BRIDGE C08899-CIP-CONSTRUCT-- 331-100-150-156-8800-8802- 167,310 - - - - 500,000 VIA DE ANZA STREET IMPROVEMENT II C08835-CIP-CDBG-CONSTRUCT- 251-100-150-156-8800-8802- - 348,719 - - - - VIA DE ANZA STREET IMPROVEMENT II C08835-CIP-CONSTRUCT-CVWD- 331-100-150-156-8800-8802- - 470,000 - - - - VIA DE ANZA STREET IMPROVEMENT III C08841-CIP-CDBG-CONSTRUCT- 251-100-150-156-8800-8802- - 455,000 - - - - TOTAL CURRENT PROJECTS 2,515,081 17,568,506 9,438,015 6,231,000 - 500,000 Capital Improvement Project (CIP) Plan - Project Detail 230|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY CAPITAL IMPROVEMENT PROJECT (CIP) PLAN – PROJECT DETAIL FY 2023/2024 FY 2024/2025 FY 2025/2026 FY 2026/2027 FY 2027/2028 Project Title Project String Account Number
Remaining
Encumbrances
Proposed
Budget
Proposed
Budget
Proposed
Budget
Proposed
Budget
Proposed
Budget
NEW PROJECTS
LANDAU PUBLIC ALLEYWAY RECONSTRUCTION C0XXX1-CIP-DESIGN-RMRA-SB1 248-100-150-156-8600-8601- - 70,000 - - - - LANDAU PUBLIC ALLEYWAY RECONSTRUCTION C0XXX1-CIP-CONSTRUCT-RMRA-SB1 248-100-150-156-8800-8802- - 830,000 - - - - WHITEWATER AREA ST IMPROVEMENT BETWEEN 33RD AVE
AND ORTEGA RD C0XXX2-CIP-CONSTRUCT-RMRA-SB1 248-100-150-156-8800-8802- - - 270,000 - - - WHITEWATER AREA ST IMPROVEMENT BETWEEN 33RD AVE
AND ORTEGA RD C0XXX2-CIP-CONSTRUCT-CDBG- 251-100-150-156-8800-8802- - - 480,000 - - -
WHITEWATER AREA ST IMPROVEMENT BETWEEN ORTEGA RD
AND DINAH SHORE DRIVE C0XXX2-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - - - - - 750,000 OCOTILLO SQUARE NEIGHBORHOOD STREETS DESIGN C0XXX3-CIP-DESIGN-GEN FUND- 100-100-150-156-8600-8601- - - 170,000 - - - VICTORIA DRIVE NEIGHBORHOOD REAS C0XXX4-CIP-CONSTRUCT-RMRA-SB1 248-100-150-156-8800-8802- - - - 485,000 - - AD 85-1, N/O BARISTO, S/O VEGA, E/O LANDAU, W/O AVE
LOS NINOS C0XXX5-CIP-CONSTRUCT-AD 341-100-150-156-8800-8802- - 258,085 - - - - AD 85-1, N/O BARISTO, S/O VEGA, E/O LANDAU, W/O AVE
LOS NINOS C0XXX5-CIP-CONSTRUCT-GEN FUND 100-100-150-156-8800-8802- - 60,000 - - - -
N/O BARISTO, S/O VEGA, E/O LANDAU, W/O AVE LOS NINOS
- STREET IMPROVEMENT C0XXX5-CIP-CONSTRUCT-RMRA-SB1 248-100-150-156-8800-8802- - - - 365,000 - - AD 86-5, N/O RAMON, S/O MCCALLUM, E/O DATE PALM,
W/O SANTORO STREET IMPROVEMENT C0XXX6-CIP-CONSTRUCT-AD 344-100-150-156-8800-8802- - 555,271 - - - -
N/O RAMON, S/O MCCALLUM, E/O DATE PALM, W/O
SANTORO - STREET IMPROVEMENT C0XXX6-CIP-CONSTRUCT-RMRA-SB1 248-100-150-156-8800-8802- - - - - 915,000 -
PANORAMA PARK AREA STREET IMPROVEMENTS AVENIDA
MARAVILLA AND AVENIDA LA VISTS C0XXX7 -CIP-CONSTRUCT-RMRA-SB1 248-100-150-156-8800-8802- - - - - - 550,000 DA VALL PAVEMENT REHAB S/O RAMON C0XXX8-CIP-DESIGN-MEASURE A- 243-100-150-156-8600-8601- - 30,000 - - - - DA VALL PAVEMENT REHAB S/O RAMON C0XXX8-CIP-CONSTRUCT-MEASURE A- 243-100-150-156-8800-8802- - 320,000 - - - - EAST PALM CYN - PEREZ RD TO AUTO CENTER DR C0XXX9-CIP-CONSTRUCT-MEASURE A- 243-100-150-156-8800-8802- - 200,000 - - - - EAST PALM CYN REAS C0XXX9-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - 350,000 - - - - CYPRESS RD/SANTORO DR DRAIN IMPROVEMENT C0XX10-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - 80,000 - - - - VARNER RD PALM DRIVE TO DATE PALM DRIVE C0XX11-CIP-DESIGN-GEN FUND- 100-100-150-156-8600-8601- - 375,000 375,000 - - - VARNER RD PALM DRIVE TO DATE PALM DRIVE C0XX11-CIP-DESIGN-CVAG- 331-100-150-156-8600-8601- - 1,125,000 1,125,000 - - - CATH CYN CHANNEL EAST MULTIMODAL PATH C0XX12-CIP-DESIGN-GEN FUND- 100-100-150-156-8600-8601- - 220,000 - - - - CATH CYN CHANNEL EAST MULTIMODAL PATH C0XX12-CIP-DESIGN-AB1600- 235-100-150-156-8600-8601- - 80,000 - - - - DATE PALM, I-10 TO VARNER C0XX13-CIP-DESIGN-CVAG- 331-100-150-156-8600-8601- - 225,000 225,000 - - - DATE PALM, I-10 TO VARNER C0XX13-CIP-DESIGN-MATCH- 100-100-150-156-8600-8601- - 87,500 87,500 - - - DATE PALM, I-10 TO VARNER C0XX13-CIP-CONSTRUCT-CVAG- 331-100-150-156-8800-8802- - - - 1,056,220 704,146 - DATE PALM, I-10 TO VARNER C0XX13-CIP-CONSTRUCT-MATCH- 100-100-150-156-8800-8802- - - - 352,073 234,716 - DATE PALM, I-10 TO VARNER LONG CYN CROSSING C0XX13-CIP-CONSTRUCT-RCFCD- 331-100-150-156-8800-8802- - - - 1,966,500 - - PAPAYA - SUNNY LN AREA REAS C0XX14-CIP-CONSTRUCT-MEASURE A- 243-100-150-156-8800-8802- - 150,000 - - - - AD 88-3, PANORAMA RD FROM AVENIDA LA VISTA TO VISTA
CHINO C0XX15-CIP-CONSTRUCT- 347-100-150-156-8800-8802- - 230,000 - - - - PANORAMA NEIGHBORHOOD REAS - STREETS TBD C0XX15-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - - - - 720,000 - AD 2004-02 COVE CRACK REPAIRS C0XX16-CIP-CONSTRUCT- 354-100-150-156-8800-8802- - 400,000 - - - - RIO VISTA BLOW SAND RDWAY PRESERVATION PROJECT C0XX17-CIP-ENV-R&M- 246-900-910-911-8300-8302- - 50,000 - - - - CATHEDRAL CYN, PEREZ RD TO BRIDGE IMPROVEMENTS C0XX18-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - - - 970,000 - - DATE PALM, FROM E PALM CYN TO GERALD FORD REAS C0XX19-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - - - - 90,000 - Capital Improvement Project (CIP) Plan - Project Detail 231|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY
CAPITAL IMPROVEMENT PROJECT (CIP) PLAN – PROJECT DETAIL
FY 2023/2024 FY 2024/2025 FY 2025/2026 FY 2026/2027 FY 2027/2028 Project Title Project String Account Number
Remaining
Encumbrances
Proposed
Budget
Proposed
Budget
Proposed
Budget
Proposed
Budget
Proposed
Budget
NEW PROJECTS
PEREZ RD REAS C0XX20-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - - - - 425,000 - VARNER RD EAST OF BOB HOPE - RCTC - SLURRY C0XX21-CIP-CONSTRUCT-GEN FUND- 100-100-150-156-8800-8802- - 15,000 - - - - OCOTILLO SQUARE NEIGHBORHOOD STREETS - PHASE I C0XX22-CIP-CONSTRUCT- 251-100-150-156-8800-8802- - - - 480,000 - - OCOTILLO SQUARE NEIGHBORHOOD STREETS - PHASE II C0XX23-CIP-CONSTRUCT- 251-100-150-156-8800-8802- - - - - 480,000 - FUTURE CDBG NEIGHBORHOOD STREETS -TBD C0XX24-CIP-CONSTRUCT - 251-100-150-156-8800-8802- - - - - - 480,000 CV LINK TRAFFIC SIGNAL - CATH CYN AT CYN SHORES C0XX25-CIP-CONSTRUCT - 331-100-150-156-8800-8802- - 400,000 - - - - HSIP 11A - PEDESTRIAN CROSSWALK UPGRADES (18
INTERSECTIONS) C0XX26, NOTICE OF AWARD 331-100-150-156-8800-8802- - 1,306,890 - - - - HSIP 11A - PEDESTRIAN CROSSWALK UPGRADES (18
INTERSECTIONS) C0XX26, CITY MATCH UNSPECIFIED 2 - 145,210 - - - - HSIP 11B - PEDESTRIAN SIGNALS (2 INTERSECTIONS)
C0XX26, GRANT APPLICATION SUBMITTED,
NOTICE OF AWARD 331-100-150-156-8800-8802- - 959,670 - - - - HSIP 11B - PEDESTRIAN SIGNALS (2 INTERSECTIONS) C0XX26, CITY MATCH UNSPECIFIED 2 - 106,660 - - - - HSIP 11C - SIGNAL HARDWARE (49 INTERSECTIONS)
C0XX26, GRANT APPLICATION SUBMITTED,
NOTICE OF AWARD 331-100-150-156-8800-8802- - 1,008,000 - - - - HSIP 11C - SIGNAL HARDWARE (49 INTERSECTIONS) C0XX26, CITY MATCH UNSPECIFIED 2 - 112,000 - - - - HSIP 11D - 30TH AVE AND SAN ELJAY AVE (SET-ASIDE)
C0XX26, GRANT APPLICATION SUBMITTED,
NOTICE OF AWARD 331-100-150-156-8800-8802- - 249,840 - - - - HSIP 11D - 30TH AVE AND SAN ELJAY AVE (SET-ASIDE) C0XX26, CITY MATCH UNSPECIFIED 2 - 27,760 - - - -
TOTAL N
EW PROJECTS - 10,026,886 2,732,500 5,674,793 3,568,862 1,780,000 Capital Improvement Project (CIP) Plan - Project Detail 232|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY
CAPITAL IMPROVEMENT PROJECT (CIP) PLAN – PROJECT DETAIL
FY 2023/2024 FY 2024/2025 FY 2025/2026 FY 2026/2027 FY 2027/2028 Project Title Project String Account Number
Remaining
Encumbrances
Proposed
Budget
Proposed
Budget
Proposed
Budget
Proposed
Budget
Proposed
Budget
UNSPECIFIED PROJECTS
DA VALL/I-10 INTERCHANGE C01010-CIP--- UNSPECIFIED 1 44,512 - - - - - DA VALL/I-10 INTERCHANGE C01010-CIP-DESIGN-GEN FUND- UNSPECIFIED 1 13,705 - - - - - DA VALL/I-10 INTERCHANGE C01010-CIP-PSR-- UNSPECIFIED 1 - - - - - - VARNER FROM MOUNTAIN VIEW TO DATE PALM UNKNOWN SOURCE UNSPECIFIED 2a - - - - - - WILLOW HOLE CROSSING ON VARNER CVAG UNSPECIFIED 2b - 1,770,000 - - - - WILLOW HOLE CROSSING ON VARNER MATCH UNSPECIFIED 2b - 590,000 - - - - WILLOW HOLE CROSSING ON VARNER RCFCD UNSPECIFIED 2b - 790,000 - - - - WILLOW HOLE CROSSING ON VARNER * POTENTIAL FEMA FUNDING UNSPECIFIED 2b - - - - - - VARNER FROM DATE PALM TO MOUNTAIN VIEW UNKNOWN SOURCE UNSPECIFIED 2c - - - - - VARNER FROM DATE PALM TO BOB HOPE UNKNOWN SOURCE UNSPECIFIED 2d - - - - - EDOM HILL CROSSING CVAG UNSPECIFIED 3 - 1,882,500 - - - - EDOM HILL CROSSING MATCH UNSPECIFIED 3 - 627,500 - - - - EDOM HILL CROSSING RCFCD UNSPECIFIED 3 - 600,000 - - - - EDOM HILL CROSSING * POTENTIAL FEMA FUNDING UNSPECIFIED 3 - - - - - - TOTAL UNSPECIFIED PROJECTS 58,217 6,260,000 - - - - Capital Improvement Project (CIP) Plan - Project Detail 233|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY
CAPITAL IMPROVEMENT PROJECT (CIP) PLAN – SUMMARY BY FUND
FUND FY 2023/2024 FY 2024/2025 FY 2025/202 6 FY 2026/2027 FY 2027/2028 FUND TOTAL 100 2,110,210$ 900,000 $ 1,322,073$ 1,469,716 $ 750,000 $ 6,551,999$ 232 80,000 750,000 - - - 830,000 234 172,079 - 6,231,000 - - 6,403,079 235 80,000 - - - - 80,000 243 1,000,000 690,227 - - - 1,690,227 246 50,000 - - - - 50,000 248 1,615,000 270,000 850,000 915,000 550,000 4,200,000 251 803,719 480,000 480,000 480,000 480,000 2,723,719 331 19,849,399 9,080,288 3,022,720 704,146 500,000 33,156,552 341 258,085 - - - - 258,085 344 555,271 - - - - 555,271 347 230,000 - - - - 230,000 354 400,000 - - - - 400,000 UNSPECIFIED 391,630 - - - - 391,630 TOTAL 27,595,392$ 12,170,515 $ 11,905,793 $ 3,568,862 $ 2,280,000 $ 57,520,562 $ Note: Fund totals are for current and new CIP projects only Capital Improvement Project (CIP) Plan - Summary By Fund 234|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY
PARKS IMPROVEMENT PROJECT (PIP) PLAN
Parks Improvement Project (PIP) Plan – Descriptions
Parks Improvement Project (PIP) Plan – Project Detail
235|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
PARKS IMPROVEMENT PROJECT (PIP) PLAN - DESCRIPTIONS
The City’s Parks Improvement Project (PIP) Plan is submitted to the City Council for review. As a result of the City Council Goal Planning Session, these projects have been prioritized.
City Council Goal B: Community Investment
o Support Parks and Community Events Commission priorities for improvements to our Parks facilities.
o B-3 Develop a wilderness trail plan
o B-7 Maximize the use of existing resources to in clude underutilized parks and the library to support goals with the budget we have
o B-9 Improve pedestrian access to parks through t he use of crosswalks and sidewalk improvements
The following park improvement projects are categorized into two sections:
Americans with Disab ilities (ADA) projects
Park Upgrade projects to include splash pads and sp orts fields within the City of Cathedral City.
The Park Improvement Project (PIP) Plan detail for approved projects are included on the pages following the Project Descriptions.
236|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
PARKS IMPROVEMENT PROJECT (PIP) PLAN - DESCRIPTIONS
CENTURY PARK
• Repair and renew walking path, add crosswalk and ADA ramps in Century Park. Upgrade the baseball field, install new water splash pad, and enhance security features.
DENNIS KEAT SOCCER PARK
• Install crosswalk, ADA ramps and parking lot at the Dennis Keat Soccer Park. Renovate and repair pedestrian lighting for fitness walking path.
DOWNTOWN DOG PARK
• Build a park which has both large and small dog sections, a parking lot, restrooms, and four pickleball courts.
OCOTILLO PARK
Install crosswalk and ADA ramps in Ocotillo Pa rk. Install outfield fenc e for baseball field and upgrade mechanics of splash pad to recycle the water.
PANORAMA PARK
Install crosswalk and ADA ramps in Panorama Park. Install lighting for basketball court and baseball field, enhance security features and upgrade splash pad area.
TOWN SQUARE FOUNTAIN OF LIFE
• Install a new splash pad for recreation as the Fountain of Life art installation is no longer utilized as for recreation.
237|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
PARKS IMPROVEMENT PROJECT (PIP) PLAN – PROJECT DETAIL
ADA PROJECTS
CENTURY PARK
612‐500‐510‐511‐8800‐8802‐ 100,000 ‐ ‐ ‐ ‐ DENNIS KEAT SOCCER PARK
612‐500‐510‐511‐8800‐8802‐ 50,000 ‐ ‐ ‐ ‐ 612‐500‐510‐511‐8800‐8802‐ 50,000 ‐ ‐ ‐ ‐
VARIOUS
612‐500‐510‐511‐8800‐8802‐ 100,000 ‐ ‐ ‐ ‐ 612‐500‐510‐511‐8800‐8802‐‐ 100,000 ‐ ‐ ‐ 612‐500‐510‐511‐8800‐8802‐‐ ‐ 100,000 ‐ ‐ 612‐500‐510‐511‐8800‐8802‐‐ ‐ ‐ 100,000 ‐ PARK UPGRADE PROJECTS
CENTURY PARK
UNSPECIFIED FUNDING SOURCE ‐ ‐ 200,000 ‐ ‐ 100‐500‐510‐511‐8800‐8802‐‐ 200,000 ‐ ‐ ‐ 246‐900‐910‐911‐8800‐8802‐‐ 100,000 ‐ ‐ ‐ UNSPECIFIED FUNDING SOURCE ‐ ‐ 110,000 ‐ ‐ 100‐500‐510‐511‐8300‐8302‐ 40,000 ‐ ‐ ‐ ‐ 100‐500‐510‐511‐8300‐8302‐ 50,000 ‐ ‐ ‐ ‐ DOWNTOWN DOG PARK
100‐500‐510‐511‐8800‐8802‐‐ 250,000 500,000 ‐ ‐ 235‐500‐510‐511‐8800‐8802‐‐ 500,000 ‐ ‐ ‐ GRANT FUNDING ‐ 750,000 500,000 ‐ ‐ DENNIS KEAT SOCCER PARK
235‐500‐510‐511‐8800‐8802‐‐ 300,000 ‐ ‐ ‐ OCOTILLO PARK
100‐500‐510‐511‐8300‐8302‐ 50,000 ‐ ‐ ‐ ‐ UNSPECIFIED FUNDING SOURCE ‐ 250,000 ‐ ‐ PANORAMA PARK
100‐500‐510‐511‐8300‐8302‐‐ 110,000 ‐ ‐ ‐ UNSPECIFIED FUNDING SOURCE ‐ ‐ 250,000 ‐ ‐ 100‐500‐510‐511‐8300‐8302‐ 40,000 ‐ ‐ ‐ ‐ UNSPECIFIED FUNDING SOURCE ‐ ‐ ‐ 250,000 ‐ TOWN SQUARE WATER FEATURE
246‐900‐910‐911‐8800‐8802‐ 100,000 ‐ ‐ ‐ ‐ 100‐500‐510‐511‐8800‐8802‐ 200,000 ‐ ‐ ‐ ‐
VARIOUS
100‐500‐510‐511‐8300‐8302‐‐ 30,000 ‐ ‐ ‐ 100‐500‐510‐511‐8300‐8302‐‐ ‐ 30,000 ‐ ‐ 100‐500‐510‐511‐8300‐8302‐‐ ‐ ‐ 30,000 ‐ 100‐500‐510‐511‐8300‐8302‐‐ ‐ ‐ ‐ 30,000 TOTALS 780,000 2,340,000 1,940,000 380,000 30,000
PARKS IMPROVEMENT PROJECT (PIP) PLAN
NEW WATER/SPLASH PLAY AREA
SECURITY DOORS FOR RESTROOMS (MEN/WOMEN)
LIGHTING FOR PARKING LOT AREA
FY 2023/2024
Proposed
Budget
FY 2024/2025
Proposed
Budget
FY 2025/2026
Unspecified
Funding
FY 2026/2027
Uns pecified
Funding
LIGHTING FOR BASKETBALL COURT
ADA CONCRETE PATH OF TRAVEL IMPROVEMENTS
ADA CONCRETE PATH OF TRAVEL IMPROVEMENTS
FY 2027/2028
Unspecified
Funding
DENNIS KEAT SOCCER PARK‐IMPROVEMENTS WITHIN RESTROOMS AT PARKS NEW WATER/SPLASH PLAY AREA
PANORAMA PARK‐IMPROVEMENTS WITHIN RESTROOMS AT PARKS
CENTURY PARK‐IMPROVEMENTS WITHIN RESTROOMS AT PARKS
OUTFIELD FENCE FOR BASEBALL FIELD
DOWNTOWN DOG PARK
DOWNTOWN DOG PARK
OCOTILLO PARK‐IMPROVEMENTS WITHIN RESTROOMS AT PARKS
NEW WATER/SPLASH PLAY AREA
PEDESTRIAN LIGHTING FOR FITNESS WALKING PATH (30TH, SANT ORO AND TORTUGA) UPGRADE WATER/SPLASH PLAY AREA
LOW LEVEL LIGHTING FOR BASEBALL FIELD
RECYCLE WATER SYSTEM FOR WATER/SPLASH AREA
ADA ASPHALT (PARKING LOT) PATH OF TRAVEL IMPROVEMENTS
PANORAMA PARK‐ADD CROSSWALKS AND ADA RAMPS TO VARIOUS LOCATIONS AT PARKS CENTURY PARK‐ADD CROSSWALKS AND ADA RAMPS TO VARIOUS LOCATIONS AT PARKS NEW WATER
/SPLASH PLAY AREA
LIGHTING FOR BASKETBALL COURT
OCOTILLO PARK‐ADD CROSSWALKS AND ADA RAMPS TO VARIOUS LOCATIONS AT PARKS DOWNTOWN DOG PARK PARTICIPATION FUNDING (STATE GRANT)
SECURITY DOORS FOR RESTROOMS (MEN/WOMEN)
DUGOUT, BACKSTOP, BLEACHERS AND DIAMOND FOR BASEBALL FIELD DENNIS KEAT SOCCER PARK‐ADD CROSSWALKS AND ADA RAMPS TO VARIOUS LOCATIONS AT PARKS 238|PAGE
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PARKS IMPROVEMENT PROJECT (PIP) PLAN – SUMMARY BY FUND
FUND FY 2023/2024 FY 2024/2025 FY 2025/20 26 FY 2026/2027 FY 2027/2028 FUND TOTAL 100 380,000 $ 590,000 $ 530,000 $ 30,000 $ 30,000 $ 1,560,000$ 235 - 800,000 - - - 800,000 246 100,000 100,000 - - - 200,000 612 300,000 100,000 100,000 100,000 - 600,000 GRANT FUNDING - 750,000 500,000 - - 1,250,000 UNSPECIFIED - - 810,000 250,000 - 1,060,000 TOTAL 780,000$ 2,340,000$ 1,940,000$ 380,000$ 30,000$ 5,470,000$ Parks Improvement Project (PIP) Plan - Summary By Fund
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SUPPLEMENTAL INFORMATION
Community History and Profile
Financial Policies
Debt Administration
Legal Debt Margin
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COMMUNITY HISTORY AND PROFILE
HISTORY
The Cahuilla Indians, the original inhabitants of the Cathedral City area and the area now known as the Coachella Valley, have lived throughout the area for over two thousand years. Members of the Shoshone tribe, the Cahuilla Indians were industrious farmers, hunting local wildlife like deer and sheep when necessary to fulfill tribal needs. In 1876, the Agua Caliente Band, descendants of the Cahuilla tribe, establishe d a 52,000-acre reservation, which encompasses 28% of the Cathedral City area.
The first Spaniards were thought to appear in the area in 1772, with the first settlers planting roots in approximately 1821. In 1850, Colonel Henry Washingt on of the U.S. Army Corps of Engineers discovered the area’s canyons resembled the interior of a grand cathedral and he named this canyon of majestic architecture Cathedral Canyon.
In 1925, developers had the same impression, naming the area’s first subdivision Cathedral City.
PROFILE
The City of Cathedral City, incorporated in 1981, is a bus iness and resort community located in the heart of the Coachella Valley in eastern Riverside County, located approximately 110 miles east of Los Angeles and 125 miles northeast of San Diego. Bordered by Palm Springs to the west and Rancho Mirage to the east, it is the second largest city in the Valley, with a permanent population of more than 51,000. With the annexation of land north of the city completed in 2014, the City currently occupies a land area of approximately 23 square miles at an elevation of 325 feet above sea level and boasts an ideal climate of 350 sunny days a year, clean air, scenic beauty and unlimited leisure activities, housing options and business opportunities. In February 2011, US News & World Report named the City of Cathedral City as one of the “10 Bargain Retirement Spots in America”.
From the original inhabitants, the Agua Caliente Band of Cahuilla Indians, Cathedral City has become a home of diversity in ethnicity, income, and lifestyle. White-collar and blue-collar workers, professionals and retirees are all part of a population working and living together in a community striving for an enjoyable, prosperous, and healthy lifestyle.
The City transitioned from a general law city to a c harter city operating under the council-manager form of government. With the November 2018 elections, the governing body consists of five Council members with a rotating mayor each year. In addition, the 2018 elections brought districting to the City wi th five sections (wards) comprised of equivalent residential populations. The City Council is elected on a nonpartisan basis with Council members serving four-year staggered terms – three Council members elected in one two-year cycle, e.g., 2022, for Districts 3, 4 and 5. Alternately, two Council members elected in the next two-year cycle, e.g., 2024, for Districts 1 and 2. Among other things, the City Council is responsible for passing ordinances, adopting the budget, appointing committees, and hiring both the City Manager and City Attorney. The City Manager is responsible for carrying out the policies, resolutions, and ordinances of the City Council, overseeing the day-to-day operations of the City, and appointing the various department heads.
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COMMUNITY HISTORY AND PROFILE
The city’s centerpiece, the 70-acre Downtown Core and
adjacent Pickfair Promenade, has become a dining, and
entertainment destination for Cathedral City and neighboring Coachella Valley residents and visitors. This area expanded in recent years with the addition of the Cathedral City Community Amphitheater and the Agua Caliente Casino. In addition, there is a 14-plex movie theatre at the east end of Avenida Lalo Guerrero and the Coachella Valley Repertory (CVRep) 208-seat playhouse (live theatre) at the west end. In addition to the theaters and restaurants, the new Cathedral City Community Amphitheater is host to various weekend events throughout the season. The City has four signature events: Hot Air Balloon Festival, SnowFest, Taste of Jalisco, and Lesbian, Gay, Bisexual and Transgender (LGBT) Days which can also be hosted on the Festival Lawn and Town Square directly in front of City Hall.
For those whose tastes are on the artistic side, Cathedral City is Where Art Lives. The city has a growing collection of public art on display in various parks and medians throughout the city. Our flourishing art collection is made possible through public art funds and private donations collected through commercial development fees placed into the public arts fund and cannot be used for any other purpose. As a result, no City General Fund dollars are used for public arts.
Much of the art can be viewed if one strolls around the Civic Center complex and Town Square. Various
photographs and paintings are on display in the Civic
Center offices. More than 20 sculptures are placed
throughout the City and Town Square, including the
centerpiece – Fountain of Life, a uniquely designed,
award-winning stone sculpture in the Downtown’s Town Square. Bronze statues of film star George Montgomery and musicians Budd y Rogers and Lalo Guerrero are also located in our Town Square. There are nine (9) different steel surfaced sculptures by Simi Dabah located throughout the City. These sculptures have been left in natural unfinished state and allowed to rust to a warm patina.
The city boasts numerous attractions for visitors and resid ents alike. Activities vary from bowling at Palm Springs Lanes to playing baseball/softball at replica baseball parks located in Big League Dreams to walking the fitness track at Dennis Keat Soccer Park; from playing a round of miniature golf and riding go carts at Boomers Family Fun Park to playing a round of regular golf at one of the city’s three public golf courses. There is something for everyone in Cathedral City.
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COMMUNITY HISTORY AND PROFILE
CITY INFORMATION
Date Incorporated: November 16, 1981
Form of Government: Council – Manager
Population (calendar year): 2019 – 53,580
2020 – 53,937
2021 – 51,840
Unemployment Rate (February 2023): 3.2%
Per Capita Personal Income (2021 calendar year): $29,766 Principal Employers (2022): Desert Princess Homeowners
Doubletree Golf Resort
Net Taxable Assessed Property Value (2022): 2020 - $4,784,372,742 2021 - $5,062,361,987
2022 - $5,348,739,839
Principal Property Taxpayers (2022): MHC Date Palm LLC
(based on taxable assessed value) Welk Park North
MHH Cathedral City Holdings LLC
CC RP LLC
Police Stations (2022): 1
Fire Stations (2022): 3
Parks (2022): 10
Libraries (2022): 1
Miles of City Streets (2022): 161
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
INVESTMENT POLICY
It is the policy of the City of Cathedr al City to invest public funds in a manner which will provide the maximum security with best investment return, while meeting the daily cash flow demands of the City and conforming to all state and local statutes governing the investment of public funds.
In order of priority, the primary objectives of the City’s investment activities shall be:
1. Safety of principal is the foremost objective of the investment program. Investments shall be undertaken in a manner seeking to ensure the preservation of capital in the overall portfolio. The objective will be to mitigate credit risk (the risk of loss due to failure of the financial institution, broker/dealer default, or erosion of market value) and interest rate risk (the risk the market value of securities in the portfolio will fall due to changes in general interest rates). To attain this objective, the City will diversify its investments by investing funds among a variety of securities offering independent returns and financial institutions.
2. Liquidity is the second most important objective of the investment program. The investment portfolio shall remain sufficiently liquid to enable the City to m eet all operating and capital requirements that may be reasonably anticipated. Prior to investing City funds, the City Treasurer shall meet with Financial Services Department staff to understand the City’s project ed cash needs for day-to-day operations and ongoing capital improvement projects. Using this information, the City Treasurer can then determine the appropriate length of time for the investment.
3. Yield or rate of return shall be designed with the objecti ve of attaining a market rate of return throughout budgetary and economic cycles considering the investment risk constraints and liquidity needs. Market rate of return is defined as the average return on the one-year U.S. Treasury Bill. Whenever possible, and in a manner consistent with the more important objectives of safety of principal and liquidity, a yield higher than the market rate of return shall be sought.
The standard of care to be applied shall be the “prudent person,” which states:
Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for invest ment, considering the probable safety of their capital as well as the probable income to be derived.
Officers and employees acting in accordance with the investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security’s credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and appropriate action is taken to control adverse developments.
Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with the proper execution and management of the in vestment program, or that could impair their ability to make impartial decisions.
Authority to manage the investment program is granted to the Treasurer who shall be responsible for the investment of all funds. In his/her absence, the Financial Services Director, and/or Director of Finance, and City Manager, in that order, are authorized to act on his/her behalf. These responsibilities shall include the authority to open accounts with banks, brokers, and dealers, and to establish safekeeping accounts or other arrangements for the custody of securities and to execute such documents as may be necessary. Prior to any of the above activities being finalized, written concurrence by two of the above individuals shall be obtained.
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FINANCIAL POLICIES
Responsibility for the operation of the investment program is delegated to the Financial Services Director and/or Director of Finance, who shall carry out established written procedures and inte rnal controls consistent with this investment policy. Transactions shall be complete, valid, authorized and properly recorded.
All securities owned by the City shall be held in a safekeep ing account with the financial institution in the name of the City, and under City control at all times. All trades, where applicable, shall be executed by delivery to the City, including those purchased for the City by financial advisers, consultants, or managers by book entry, physical delivery, or by third-party custodial agreement. All security transactions shall be evidenced by safekeeping receipts.
Sections 16429.1, 53601, 53601.1, 53601.7, 53635, and 53638 of the Government Code of the State of California set forth the investment vehicles available to local ag encies as summarized in the following paragraphs. Section 53601, as now amended, provides that unless Section 53601 specifies a limitation on an investment’s maturity, no investments with maturities exceeding five years shall be made unless otherwise directed by the City’s Council members.
State Treasurer's Local Agency Investment Fund (LAIF) – As authorized in Government Code Section 16429.1 and by LAIF procedures, local government agenci es are authorized to invest a maximum of $75 million (each regular account) in this investment pr ogram administered by the California State Treasurer.
Bond proceeds accounts have no deposit restrictions.
Government Agency Issues - As authorized in Government Code Sections 53601(a) through (f), this category includes a wide variety of government securities which include the following:
• Local government bonds or other indebtedness.
• State bonds or other indebtedness.
• U. S. Treasury notes or othe r indebtedness secured by the full faith and credit of the federal government.
• Other federal agency securities including but not limited to issues by the Government National Mortgage Association, Federal National Mortgage Association, and the Federal Home Loan Mortgage Corporation.
• State of California obligations such as Califor nia Treasury Notes or General Obligation Bonds.
Investment may be made up to 80 percent of the portfolio; however, the total amount may not be committed to any one agency.
Bankers' Acceptances – As authorized in Government Code Section 53601(f), 40 percent of the City’s portfolio may be invested in bankers' acceptances; however, no more than 30 percent of the portfolio may be invested in bankers' acceptances with any one comme rcial bank. Additionally, the maturity period may not exceed 180 days.
Commercial Paper – As authorized in Government Code Section 53601(g), 25 percent of the City’s portfolio may be invested in commercial paper of the highe st rating (A-1 or P-1) as rated by Moody's or Standard and Poor's, with maturities not to exceed 270 days. Local agencies may purchase no more than 10 percent of the outstanding commercial paper of any single issuer. There are other qualifications regarding investments in commercial paper based on the financial strength of the corporation and the size of the investment.
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FINANCIAL POLICIES
Negotiable Certificates of Deposit – As authorized in Government Code Section 53601(i), no more than 30 percent of the agency’s money may be invested in negotiable certificates of deposit issued by a nationally or state-chartered bank, a savings association, or a federal association (as defined by Section 5102 of the Financial Code), a state or federal credit union, or by a state-licensed branch of a foreign bank.
All purchases must be fully insured by the FDIC or fully collateralized.
Medium-term notes (MTNs) – As authorized in Government Code Section 53601(k), medium-term notes are defined as all corporate and deposi tory institution debt securities with a maximum remaining maturity of five years or less, issued by corporations organized and operating within the United States or by depository institutions licensed by the United States or any state and operating within the United States.
Notes eligible for investment under this subdivision shall be rated “A” or better by a nationally recognized ratings service. Purchases of medium-term notes sha ll not include other instruments authorized by this section and may not exceed 30 percent of the agency’ s money that may be invested pursuant to this section; however, no more than 5 percent in any one issue or issuer.
Money Market Mutual Funds – As authorized in Government Code Section 53601(l)(2), shares of beneficial interest issued by diversified managemen t companies that are money market mutual funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940. The company shall have met either of the following criteria: (a) attained the highest ranking or the highest letter and numerical rating provided by not less than two nationally recognized statistical rating organizations; or (b) retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds with assets under management in excess of five hundred million dollars ($500,000,000).
The purchase price of shares of beneficial interest purchased pursuant to this subdivision shall not include any commission the companies may charge and shall not exceed 20 percent of the agency’s money that may be invested pursuant to this section. However, no more than 10 percent of the agency's funds may be invested in shares of beneficial interest of any one mutual fund.
A derivative is defined as a financial instrument created from or whose value depends on the value of one or more underlying assets or indexes of asset values. No investment shall be made in collateralized mortgage obligations (CMO’s), interest-only (IO’s) and principal-only (PO’s) forwards, futures, currency and interest rate swaps, options, and caps/floor/collars. Neither shall any investment be ma de in reverse repurchase agreements as outlined in Government Code 53601(j).
With the objectives of this policy, diversification of the portfolio will be made at all times in such a manner to avoid incurring unreasonable risks. No investment shall be made in a security prohibited by this policy or by Government Code 53601.6. Liquidity shall be maintained in such a m anner that no less than 20 percent of the portfolio shall have a term of one year or less.
At the time of each investment, either by renewal or initial purchase, an analysis shall be made of the entire portfolio to ensure the limit for that type of investment shall not be exceeded.
Assets held by fiscal agents are held pursuant to formal agreements such as the requirements of a bond issue or an agreement between the City and another government agency or other entity. The investment of assets held by fiscal agents shall occur pursuant to these formal requirements as permitted by Section 53601(m) of the California Government Code. However, the investment of such assets is subject to the laws established by the State of California pertaining to investments by local agencies as well as the City’s primary investment objectives.
Investment decisions regarding these assets are made by the participants pursuant to the deferred compensation plans made available to the City and are not considered a part of this investment policy.
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FINANCIAL POLICIES
Under provisions of the California Government Code Section 53646, there shall be a report at least quarterly made to the City Council and City Manager reporting the status of all investments. Per subdivision (d), the legislative body of a local agency may elect to require the report specified in subdivision (b) to be made on a monthly basis instead of quarterly. The City’s Municipal Code requires the City Treasurer to make a monthly report to the City Council of all investments made pursuant to the authority delegated in this chapter. (Municipal Code 3.08.050 – Ord. 2 § 1 (part), 1981)
These reports shall show for all securities:
type of investment
issuer or institution
date of maturity
amount of deposit
rate of interest
current market value
accrued interest due
current broker/dealers and par amount invested through their company as a percentage of the total portfolio
In addition to the items required by Section 53646 of the California Government Code, the following items should be included on the monthly reports to ensure compliance with this investment policy and Governmental Accounting Standards Board (GASB) Statement No. 40, Deposit and Investment Risk Disclosures:
investment rating at time of purchase (Moody’s / Standard & Poor’s) investment rating as of June 30 of each fiscal year (Moody’s / Standard & Poor’s)
Investments held by a fiscal agent and agents for any deferred compensation funds shall be reported based on the most recent published reports received by the City at the time the report is made to the City Council.
The City shall transact investment business only with banks, savings and loans, and registered securities dealers.
All financial institutions and broker/dealers who desire to become bidders for investment transactions must supply the City with the following:
audited financial statements
proof of National Association of Security Dealers' certification trading resolution
proof of California registration
certification of having read the City of Cathedral City’s investment policy résumé of employees wh o will be engaged in transactions with the City Community Reinvestment Act (“CRA”) Rating of Satisfactory or above.
A periodic review of the financial condition and registrati ons of qualified bidders shall be conducted. An annual certification of having read the City’s investment policy shall be required by all brokers/dealers.
The Treasurer shall review on a quarterly basis the LAIF report regarding its investments and the market value thereof and obtain and review the State Treasurer’s investment policy and annual audited financial report as it pertains to LAIF.
This investment policy shall be reviewed at least annually by the City Council and City Manager or in accordance with California Government Code Section 53646 requirements.
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FINANCIAL POLICIES
FUND BALANCE POLICY
The purpose of this policy is to establish a key element of the financial stability of the City by setting guidelines for fund balance. Unassigned fund balance is an important measure of economic st ability. It is essential the City maintain adequate levels of unassigned fund balance to mi tigate financial risk that can occur from unforeseen revenue fluctuations, unanticipated expenditures, and similar circumstances. The fund balance also provides cash flow liquidity for the City’s general operations.
Classification of Fund Balances
A fund’s equity - commonly referred to as ‘fund balance’ - is generally the difference between its assets and its liabilities. In accordance with Governmental Accounting Standards Board (GASB) Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, fund balance will be displayed in the following classifications depicting the relative strength of the spending constraints placed on the purposes for which resources can be used:
• Non‐spendable fund balance – amounts that will never convert to cash (such as prepaid items), amounts that will not convert to cash soon enough to affect the current period (such as assets held for resale), or are required to be maintained intact (such as the corpus of an endowment fund). • Restricted fund balance – amounts constrained to specific purposes by their providers (such as grantors, bondholders, and higher levels of government) through constitutional provisions or by enabling legislation. • Committed fund balance – amounts constrained to specific purposes by the government itself. This requires a formal action of the government’s highest level of decision-making authority. Commitments may be changed or lifted only by the government taking t he same formal action that imposed the constraint originally.
• Assigned fund balance – amounts intended to be used by the government for specific purposes. Intent can be expressed by the governing body or by an official or body to whom the governing body delegates the authority. In governmental funds other than the general fund, assigned fund balance represents the amount that is not restricted or committed. At a minimum, this indicates resources in other governmental funds are intended to be used for the purpose of that fund.
Unassigned fund balance – is the residual classification of the General Fund and includes all amounts not contained in other classifications. Unassigned amounts are technically available for any purpose.
Since there are practical and/or legal limitations on the use of non-spendable or restricted fund balances, they are not subject to the fund balance policies. The fund balance pol icies are relevant to the unrestricted fund balances, which include committed, assigned and unassigned fund balances.
Authorization and Action to Commit Fund Balance
The City Council is the government’s highest level of decision-making authority and the formal action required to establish, modify, or rescind a fund balance commitment is a resolution approved by the Council at a City Council meeting. The resolution must either be approved or rescinded, as applicable, prior to the last day of the fiscal year for which the commitment is made. The amount subject to the constraint may be determined in the subsequent period.
Authorization and Action to Assign Fund Balance
The City Council may assign fund balance to a specific purpose in relation to this fund balance policy. By resolution, the Council has also authorized the City Manager and/or Financial Services Director to assign fund balance.
Assignments of fund balance by the City Manager and/or Financial Services Director do not require formal action by the City Council; however, each assignment must be approved by either of the authorized officials before the item can be presented in the financial statements.
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FINANCIAL POLICIES
Of the available fund balance, the City strives to assign a minimum of 33% of budgeted expenditures and transfers out, with a target of 50% by fiscal year 2020, for the following purposes: (1) cash flow reserves (50%); (2) economic uncertainties (40%); and (3) budget-related reserves ( 10%). These assignments are to alleviate significant unanticipated budget shortfalls and to ensure the orderly provisions of services to citizens.
Should the assignments noted above fall below the goal or have a deficiency; the City will seek to reduce expenditures prior to increasing revenues to replenish fund balance within a reasonable timeframe. The City will try to avoid using fund balances for recurring operational expenditures.
Additional assignments may be made at the discretion of City Council or their authorized designees.
Unassigned Fund Balance
To the extent the unassigned fund balance is positive, the City may draw upon the fund balance to provide cash financing for capital projects or other one-time purchas es. Should economic projections and prudent measures warrant, City Council may also approve the systematic reduction of any excess fund balance as a tactic to prevent tax increases.
Order of Expenditure of Funds
When multiple categories of fund balance are available for expenditure (for example, a construction project is being funded partly by a grant, funds set aside by the City Council, and unassigned fund balance), the City will start with the most restricted category - spending those funds first - before moving down to the next category with available funds.
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FINANCIAL POLICIES
PROCUREMENT POLICY
The City of Cathedral City’s procurement policy establishes efficient procedures for the purchase of supplies and equipment at the lowest possible cost commensurate with quality needed, to exercise positive financial control over purchases, to clearly define authority for the purchasing function and to assure the quality of purchases.
The complete procurement policy is included in the City’s Municipal Code, Title 3 (Revenue and Finance), Chapter
3.12 (Purchases). Topics covered by the policy include:
ARTICLE 1 – GENERAL
3.12.010 Purpose.
3.12.020 Scope.
3.12.030 Council Contract Policies Adopted by Resolution.
3.12.040 Centralized Purchasing.
3.12.050 Purchasing Agent.
3.12.060 Exemptions from Centralized Purchasing.
3.12.070 Purchasing Orders.
3.12.080 Open (Standing) Purchase Orders.
3.12.090 Contract Types.
ARTICLE 2 – PURCHASING OF GOODS AND SERVICES
3.12.100 Bidding.
3.12.110 Local Vendor Preference.
3.12.120 Formal (sealed) bid procedure.
3.12.130 Tie Formal Bonds.
3.12.140 No Formal Bids.
3.12.150 Open Market or Informal Bid Procedure.
3.12.160 Exceptions to Competitive Bidding Requirement.
3.12.170 Regulations Regarding Selection of Contract Services.
3.12.180 Best Value Criteria.
ARTICLE 3 – FEDERAL REQUIREMENTS
3.12.190 Regulations for the Procurement of Property or Services Stemming from Federal Aid
ARTICLE 4 – PUBLIC WORKS CONTRACTS
3.12.200 Public Works Contracts.
ARTICLE 5 – DESIGN BUILD CONTRACT PROCUREMENT
3.12.210 Design-Build Contract Procurement Procedures.
ARTICLE 6 – DISPOSITION of SURPLUS PROPERTY
3.12.220 Surplus Supplies and Equipment.
3.12.230 Surplus Supplies – Trade-ins.
3.12.240 Surplus Supplies—Sale.
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FINANCIAL POLICIES
FIXED ASSET POLICY
The City of Cathedral City's fixed asset policy stems from two major objectives:
1. Accounting and Financial Reporting - To accurately account for and report fixed assets in financial reports issued to external reporting agencies, granting agencies and the public.
2. Safeguarding - The City has a fiduciary resp onsibility to establish systems and procedures to protect its (fixed) assets from loss or theft.
In meeting the two objectives noted above, the City has established a Capitalization Policy (below) and an Inventory Control Policy (see Policy 30100), providing specific guida nce to determine which fixed assets are subject to separate accounting and reporting (i.e., capitalization) and safeguarding, respectively.
The Financial Services Department is responsible for, and has established, systems and procedures through which both objectives are met. These systems and procedures are used to identify, process, control, track, and report City fixed assets.
Governmental Accounting Standards Board (GASB) St atement 51, Accounting and Financial Reporting for Intangible Assets, became effective beginning July 1, 2009 (FY 2010). To address this, the City has established an Intangible Assets Policy, which is included later in this section.
Capitalization Policy (Accounting and Financial Reporting) Assets meeting the following criteria will be capitalized:
The asset is used in the City’s operations.
Life expectancy is greater than one year.
The asset has a minimum value as follows:
Vehicles, machinery, and equipment $5,000
Land and land improvements $10,000
Infrastructure $50,000
Buildings $50,000
Structures $50,000
Intangibles $50,000
This capitalization threshold is applied to individual units of fixed assets. For example, ten desks purchased through a single purchase order, each costing $1,000, will not qualif y for capitalization even though the total ($10,000) exceeds the threshold of $5,000.
For purposes of capitalization, the threshold will gener ally not be applied to components of fixed assets. For example, a keyboard, monitor and central processing unit purchased as components of a computer system will not be evaluated individually against the capitalization threshold. The entire computer system will be treated as a single fixed asset.
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FINANCIAL POLICIES
Capital asset additions will
be recorded as assets when purchased. Additions and deletions of capital assets will be recorded at least on an annual basis. Asset additions and deletions will be verified with the source documents.
All costs associated with Capital Improvement Projects (CIP) Plan approved by City Council during the budget cycle will accumulate as construction-in-progress. At the end of the fiscal year, costs of completed projects, as accepted by City Council, will be transferred to the appropriate asset account as of the last day of the fiscal year. Depreciation will commence at the beginning of the next fiscal year.
The City will maintain a listing of all assets meeting the capitalization policy. Assets will be separated into the following classifications:
A. Vehicles, machinery, and equipment
B. Land and land improvements
C. Infrastruc
ture
1. Bridges
2. Streets
3. Curbs and gutters
4. Acc
ess
ramps
5. Bus turn
outs
6. Sidewalks
7. Traffic signals
8. Streetlights
9. Storm
drains
10. Retention
basin
s
11. Sewer lines
12. Water lines
13. Utility lines
14. Urban land
scaping
a. Irrigation
b. Lighting
c. Outdoor
furniture
d.
Trees
D. Buildings
E. Struc
tures
Capital assets
additions will be recorded in the year assets are purchased. Additions and deletions of capital assets will be recorded at least on an annual basis. Asset additions and deletions will be verified with the source documents.
All costs associates with capital improvement projects approved by City Council during the budget cycle will accumulate as construction in progress. At the end of t he fiscal year, costs of completed projects, as accepted by City Council, will be transferred to the appropriate asset account as of the last day of the fiscal year. Depreciation will commence at the beginning of the next fiscal year. 253|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
Developer constructed infrastructure is capitalized by the City as donated as sets at the end of the fiscal year in which the City accepts the infrastructure. The responsibility for general maintenance of the infrastructure transfers from the developer to the City at the time the City Coun cil accepts the project. The value of infrastructure is calculated based on information provided by the developer’s engineer.
The following will be included in capitalized costs:
Purchased assets – Assets are capitalized individually at their historical cost, which includes trade-in allowance, sales tax, installation cost, freight and delivery charges, and any other ancillary charges needed to render the asset into service.
Donated assets – Donated capital assets are recorded at estimated fair market value at the date of donation with a debit to expenditure and credit to revenue in related funds and the Statement of Net Assets. Constructed assets – Capital projects are capitalized as construction in progress until completed. Costs to be capitalized include all dire ct costs, site pre paration, professional fees, as well as any other ancillary charges needed to render the asset into service. Upon completion and City Council acceptance, these costs are transferred to the appropriate asset classification.
Costs Unique to Specific Asset Classifications
Land – Land costs, in addition to the purchase price, may include legal and title fees, survey fees, appraisal and negotiation fees, damage payments, relocation cost s, site preparation costs (clearing, filling, and leveling), and demolition of unwanted structures. Land is capitalized, but not depreciated. For associated costs related to the purchase of easements and rights of way, please see the intangibles section below.
Buildings and Structures – Buildings and structures assets costs may include purchase or construction costs; professional fees for engineers, architects, attorneys, appraisers, financial advisers, etc.; payment of damage claims; costs of fixtures attached to the building or other structure; insurance premiums; interest and related costs incurred during the period of construction and other expenditures necessary to put the building or structure in use.
Infrastructure – Infrastructure assets are long-lived ca pital assets stationary in nature and normally can be preserved for a significantly greater number of years than most capital assets (e.g., roads, bridges, tunnels, drainage systems, water and sewer systems, dams, lighting systems). Land associated with infrastructure is reported as land rather than as part of the cost of the related infrastructure asset. The City categorizes its infrastructure as networks. A network of assets provides a particular type of service, e.g., streets.
Improvements vs. Maintenance
The reporting department will make the differentiation between improvement and maintenance projects by reviewing the budget document and using the appropriate detailed account. Improvements – Improvements consist of additions or betterments. An addition refers to a physical extension of an existing asset or the acquisition of an entirely new unit, which does not merely replace one of similar function or value. Betterments exist when a part of an existing asset is replaced by another and the replacement provides a signific ant increase in the life or value of the asset. These costs will be capitalized.
Maintenance – Maintenance costs refer to repairs to maintain the asset at its useful and current value.
These costs will not be capitalized.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
Depreciation and Estimated Useful Lives
All depreciable capital assets will be depreciated over their estimated useful lives using the straight-line method of depreciation and the beginning of month convention. Estimated useful life by asset category is as follows:
A. Vehicles, machinery, and equipment 5 to 20 years
B. Land and land improvements Not depreciable
C. Infrastructure:
C.1 Bridges 40 years
C.2 Streets 20 years
C.3 Curbs and gutters 30 years
C.4 Access ramps 30 years
C.5 Bus turnouts 30 years
C.6 Sidewalks 30 years
C.7 Traffic signals 20 years
C.8 Street lights 25 years
C.9 Storm drains 50 years
C.10 Retention basins 50 years
C.11 Sewer lines 50 years
C.12 Water lines 20 years
C.13 Utility lines 20 years
C.14 Urban landscaping:
C.14.a. Irrigation 10 years
C.14.b. Lighting 10 years
C.14.c. Outdoor furniture 10 years
C.14.d. Trees 10 years
D. Buildings 30 years
E. Structures 20 years
Intangible Assets
Governmental Accounting Standar ds Board (GASB) Statement 51, Accounting and Financial Reporting for Intangible Assets, became effective July 1, 2009 (FY 2010).
The cumulative effect, if any, of applying this Statem ent requires a restatement of beginning net assets, fund balances, or fund net assets (as appropriate). This mean s certain intangible assets (and related amortization) in existence from July 1, 1980 to June 30, 2009 may need to be reported as the beginning (July 1) balance for intangible assets for FY 2010. See section entitled “Retroactive Reporting” for further details.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
An intangible asset should be recognized in the statement of net assets only if it is identifiable, which means the asset is either:
A. Separable (i.e., it can be separat ed/divided from the government and sold, transferred, licensed, rented or exchanged) or
B. Arose from contractual or other legal rights, re gardless of whether those rights are transferable or separable.
GASB Statement 51 defines intangible assets as assets identifiable and possess all the following characteristics:
• lack of physical substance,
• nonfinancial nature (not in monetary form like cash or investment securities), and • initial useful life extending beyond a single reporting period.
Examples of intangible assets include easements, land use rights (i.e., water rights, timber rights and mineral rights), patents, trademarks, and copyrights. In addition, intangible assets include computer software purchased, licensed or internally generated (including websites) as well as outlays associated with an internally generated modification of computer software.
Intangible assets can be purchased or licensed, acqu ired through nonexchange transactions or internally generated.
All intangible assets subject to the provisions of GASB Statement 51 should be classified as capital assets.
Accordingly, existing authoritative guidance related to the accounting and financial reporting for capital assets (i.e. recognition, measurement, presentation, disclosure, etc.) should be applied to intangible assets as applicable.
Exclusions
GASB Statement 51 applies to all intangible assets except: (a) assets acquired or created primarily for purposes of directly obtaining income or profit (these intangible assets should be considered investments), (b) assets from capital lease transactions reported by lessees, except licensing agreements to lease commercially available computer software, and (c) goodwill created through the combination of a government and another entity.
Threshold for Capitalization
The intangible asset capitalization threshold has been establ ished at $50,000. The threshold is to be consistently applied by all departments of the City for financial reporting purposes. All intangible assets at or above a specified dollar amount must be reported for the Annual Comprehensive Financial Report (ACFR), all other intangible assets are excluded.
Measurement/Recognition
Effective July 1, 2009, intangible assets exceeding the City’s threshold should be recorded at actual historical cost.
For business-type activities and enterprise funds capita lized interest and ancillary charges, if any, should be included in the historical cost.
Only direct costs will be capitalized (indirect costs will not be included).
Intangible assets received in a nonexchange transaction (i.e., donated) are to be recorded at their estimated fair value at the time of acquisition.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
The fair value of an asset is the amount at which the asset could be exchanged in a current transaction between willing parties, other than in forced or liquidati on sale. Therefore, it would be inappropriate to arbitrarily assign a nominal value to a donated intangib le asset without applying a rational technique to estimate its fair value.
The threshold for intangible assets applies to individual as sets and it is not acceptable to account for items in aggregate to meet the threshold limitations.
For internally generated intangible assets, outlays incurred by the government’s personnel, or by a third-party contractor on behalf of the government, for development of internally generated intangible assets should be capitalized.
For internally generated computer software, outlays incurred during the application development stage (see next page) will be capitalized if they exceed the threshold. T hese outlays include the initia l purchase of the computer software/license and modifications made to the software befor e it is placed into operation. The initial purchase of the software/license and modifications made should be analyzed separately for capitalization purposes (do not aggregate).
Costs incurred prior to July 1, 2009, for internally generated computer software projects in the application development stage will not be capitalized. However, cost s incurred July 1, 2009 and beyond, for these projects will be capitalized if exceeding the City’s threshold.
Computer software licenses purchased/renewed will not be aggregated. Each individual license purchased/renewed will be measured against the City’s threshold and the useful life must extend beyond a single reporting period for the license to be capitalized.
Internally Generated Intangible Assets
Internally generated intangible assets are created or prod uced by the government or an entity contracted by the government, or they are acquired from a third party but require more than minimal incremental effort on the part of the government to begin to achieve their expected level of service capacity.
Outlays related to the development of an internally generated intangible asset identifiable should be capitalized only upon the occurrence of all the following:
Specified-Conditions Criteria
a. Determination of the specific objective of the project and the nature of the service capacity is expected to be provided by the intangible asset upon completion of the project. b. Demonstration of the technical or technological f easibility for completing the project so the intangible asset will provide its expected service capacity.
c. Demonstration of the current intent ion, ability, and presence of effort to complete or, in the case of a multiyear project, continue development of the intangible asset.
Only outlays incurred subsequent to meeting the above criteria should be capitalized; outlays incurred prior to this point should be expensed.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
Internally Generated Computer Software
Computer software is considered internally generated if it is developed in-house by the government’s personnel or by a third-party contractor on behalf of the government.
Commercially available software purchased or licensed by the government and modified using more than minimal incremental effort before being put into operation should be considered internally generated. Any of the following activities would satisfy the “modified using more than minimal incremental effort” criterion: changing code, changing fields, adding special reporting capabilities, and testing any changes.
The development and installation of internally generated computer software can be grouped into three stages:
1. Preliminary Project Stage: involves conceptual formulation and evaluation of alternatives, determination of the existence of needed technology and final select ion of alternatives for development of the software.
Expense all outlays in this stage.
2. Application Development Stage : includes the design of the chosen path (i.e., software configuration, software interfaces), coding, installation to hardwar e, and testing. Data conversion activities could be included in this phase if those activities are deemed necessary to make the software operational. Capitalize all outlays incurred during this stage once the Specified-Conditions Criteria are met. (Note: the Specified- Conditions Criteria are considered met when the Preliminary Project Stage is complete and management authorizes/commits to funding the project.) Capitali zation should cease when the computer software is substantially complete and operational.
3. Post-Implementation/Operation Stage: includes application training and software maintenance. Data conversion activities would be included in this st age if not deemed necessary to make the software operational. Expense all outlays in this stage.
Outlays associated with an internally generated modificati on of computer software already in operation should be capitalized if the modification results in any of the following:
a. increase in functionality of the software (able to perform tasks it was previously incapable of performing), b. increase in efficiency of the software (increase in level of service provided without the ability to perform additional tasks) or
c. extension of the estimated useful life.
If the modification does not result in any of the three outcomes, the modification should be considered maintenance and expensed accordingly.
Amortization (Use Straight-Line Method)
The useful life of an intangible asset ar ising from contractual or other legal rights should not exceed the period to which the service capacity of the asset is limited by those contractual or legal provisions. Contract renewal periods may be considered in determining the useful life of the intangible asset if there is evidence the government will seek and be able to achieve renewal and the anticipated outlay for renewal is nominal in relation to the level of service capacity obtained.
If there are no legal, contractual, regulatory, technological, or other factors limiting the useful life of an intangible asset, then the intangible asset should be considered to have an indefinite useful life and no amortization should be recorded.
A useful life that must be estimated does not mean indefinite useful life. Int angible assets subject to amortization will be amortized over a period of 5 to 40 years, depending on the asset.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
Impairment
If changes in factors and conditions result in the useful life of an intangible asset no longer being indefinite, the asset should be tested for impairment because a change in the expected duration of use of the asset has occurred.
The carrying value of the intangible asset, if any, follo wing the recognition of any impairment loss should be amortized in subsequent reporting periods over the remaining estimated useful life of the asset.
A common indicator of impairment for internally generat ed intangible assets is development stoppage, such as stoppage of development of computer software due to changes in the priorities of management.
Retroactive Reporting
The City of Cathedral City will not retroactively report the following intangible assets:
1. Those considered to have indefinite useful lives as of June 30, 2009 or
2. Those that would be considered inte rnally generated as of June 30, 2009.
3. Costs incurred prior to July 1, 2009, for internally generated computer software projects in the application development stage will not be capitalized. However, costs incurred July 1, 2009 and beyond, for these projects will be capitalized if exceeding the City’s threshold.
Intangible assets (and related amortization) requiring retroactive reporting (for the period July 1, 1980 through June 30, 2009) will be reported at actual historical cost. This includes purchased software still in use, even if fully amortized as of June 30, 2009.
NOTE: If actual historical cost cannot be determined for these intangible assets due to lack of sufficient records, estimated historical cost will be used.
Miscellaneous
This policy must be applied to all intangible assets. If an intangible asset meeting the threshold criteria is fully amortized, the asset must be reported at the historical cost and the applicable accumulated amortization must also be reported. It is not appropriate to “net” the intangible asset and amortization to avoid reporting.
When intangible assets are sold or disposed of, it is necessary to calculate and report a gain or loss in the statement of activities. The gain/loss is calculated by subtracting the net book value (historical cost less any accumulated amortization) from the net amount realized on the sale or disposal.
Inventory Control Policy (Safeguarding)
Department heads are ultimately responsible for safeguardin g their fixed assets from theft or loss. However, the Financial Services Department does recognize and acknowledge its responsibility to establish and maintain systems and procedures that enable department heads to properly safeguard their assets.
In general, inventory control is applied only to movable fixed assets (generally those falling into the “Vehicle and Equipment” category), and not to land, buildings, or other immovable fixed assets. Fixed assets subject to inventory control will be accounted for and controlled through the same systems and procedures used to account and control fixed assets subject to capitalization.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
Fixed assets will be subject to inventory control if they meet at least one of the following criteria:
The original cost of the fixed asse t is equal to or greater than $5,000. Any asset less than $5,000 as requested from a department. This may include certain machinery and equipment that, due to its portability, value outside of the office, or character, are susceptible to theft or loss.
It may also include any asset that has been requested by a department to be controlled in order to satisfy an internal (operational) or external requirement. For example, Management Information Systems may wish to track all computer hardware to establish replacement and upgrade requirements for both hardware and system software.
Any asset required to be controlled and separately reported pursuant to grant conditions or any other externally imposed reporting requirement. For example, a grant program that has funded the acquisition of a fixed asset may impose a requirement that the fixed asset be tracked and identified as a grant-funded asset.
The Financial Services Department will conduct a fixed asset inventory on a four-year rotation schedule:
Year 1 – Police Facility
Year 2 – City Hall
Year 3 – Fire Facilities
Year 4 – Public Works Facility
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
DEBT POLICY
The purpose of this Debt Management Policy is to organize and formalize debt issuance and management related policies and procedures for the City of Cathedral City, CA (City), the City of Cathedral City as Successor Agency to the Former Redevelopment Agency, and the Cathedral City Public Finance Authority (references herein to the “City” are deemed to include the Successor Agency and Authority) . The debt policies and procedures of the City are subject to and limited by applicable provisions of state and federal law and to prudent debt management principles.
This Debt Policy (Policy) is intended to comply with Government Code Section 8855(i), effective on January 1, 2017, and will apply to all future debt considerations and issuances for which the City Council acts as the legislative body for the City, the Successor Agency, and the Cathedral City Public Finance Authority (CCPFA).
The primary objectives of the City’s debt and financing related activities are to:
Maintain cost-effective access to the capital markets through prudent fiscal management policies and practices;
Ensure that judicious debt service commitments are made through effective planning and cash management;
Ensure compliance with all applicable federal and state securities laws; Achieve the highest practical credit ratings within the context of the City’s financing needs and financing capabilities;
Ensure that all debt is structured in order to protect both current and future taxpayers, ratepayers and constituents of the City; and
Ensure that the City’s debt is consistent with the City’s planning goals and objectives and capital improvement program or budget, as applicable.
ASSIGNMENT OF RESPONSIBILITY
This Policy will govern the issuance and management of a ll future debt issued by the City, Successor Agency and CCPFA. This Policy will be reviewed and updated periodically as necessary. Any change s to the Policy will be approved by the City Council. The City Council is responsible for overall policy direction of this Policy, as well as the authorization of each debt financing. The Financial Services Director or Finance Director is to be responsible for implementation of the Policy, as well as its day-to-day administration.
The City recognizes that, while this Policy provides guidance and structure for the decisions and management of the City’s debt, changes in capital markets, city programs and other unforeseen circumstances may arise that are not addressed in this Policy. In these cases, management flexibility is appropriate, and modifications or exceptions may be necessary to achieve the City’s goals.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
DEBT ISSUANCE
Purpose of Debt Issuance
The City’s debt management program will consider debt issuance in cases where public policy, generational equity and economic efficiency provide a benefit to the residents of Cathedral City.
The City will utilize debt obligations and will give due consideration to all available funding sources, including available cash reserves, available current revenues, potential future revenue sources, potential grants, and all other financing sources legally available to be used for such purposes. Expenditure of bond proceeds are expected to fund major, non-recurring expenditures/expenses, including but not limited to: the financing of costs related to capital project planning and design, environmental, land acquisition, real property, and equipment acquisition; the construction or renovation of buildings and permanent structures; financing costs related to the debt issuance, capitalized interest, necessary or financially prudent debt service reserves; or other costs as permitted by law. Refunding or refinancing existing debt obligations are acceptable uses of bond proceeds.
Types of Debt
The City will evaluate the use of appropriate financial alternatives available as permitted by the State Constitution and applicable State statutes. These alternatives will be considered in order to secure the most cost advantageous financing alternative available while limiting the City’s risk exposure. Types of debt may include, but are not limited to:
Lease revenue bonds
Certificate of Participation
Revenue bonds
Land-secured financing, such as sp ecial tax bonds and assessment bonds General obligation bonds
Tax increment financing
Conduit financing, such as financing for affordable rental housing and qualified 501(c)(3) organizations Refunding/refinancing existing debt obligations
General Obligation Bonds
Short term notes
Lease-purchase transactions
Letters of Credit and revolving credit
The City will also consider the advantages of a negot iated or competitive bond sale and recognizes that a standard, all-purpose approach to debt financing does not serve the best interest of the City. The City will consider the unique combination of factors such as the type of debt needed, funding stream, market conditions and City programs to structure each debt issuance.
The City may choose to maintain an Interfund Loan Practice to provide guidance for internal financing between City funds.
Debt Structuring Practices
The maximum term of any debt issuance will not exceed the useful life of the assets funded from the financing.
Capitalized interest and deferral of principal may be considered but not required during construction of a debt- funded project. Fixed rate debt is preferred, but the City may consider the appropriateness of variable rate debt when considering financial market conditions and risk factors.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
Financing Options
In general, debt may be issued to fund new projects or to refinance existing debt.
New Debt
New debt issuances are used to generate funding for capital projects. These funds will be used for necessary land acquisitions, capital construction, equipment, related financing costs, and other necessary expenses that would deliver a project for the City.
Refinancing Existing Debt
A periodic review of the City’s outstanding debt will be undertaken by the Financial Services Department to determine refunding opportunities.
Refunding bonds are issued to retire all or a portion of an outstanding bond issue, typically to secure lower interest rates and to reduce overall debt service. Alternatively, some refunding’s are undertaken for reasons other than to achieve cost savings, such as to restructure debt service payments, shorten maturities and to change the type of debt instruments being used, or to eliminate undesirable covenants.
A present value savings analysis will be prepared to identify the economic effects of any refunding being considered by the City. The savings from any particular refunding candidate shall generally be at least 3% of the refunded principle amount, net of all transaction expenses. This 3% savings target may be waived by the City upon a finding that such a refunding is in the City's best overall financial interest and shall not be applicable for refunding transactions that are not solely undertaken to achieve cost savings.
Integration with City Capital Improvement (CIP) Plan and Budgets
The City is committed to long-term financial planning, maintaining appropriate reserves levels, and employing prudent practices in governance, management, and budget administration. In addition, the City maintains a General Plan as well as a multi-year Capital Improvement Project (CIP) Plan to establish and monitor priorities for projects. The City strives to integrate its debt issuances with the goals of the CIP by timing the issuance of debt to ensure that projects are available when needed in furtherance of the City’s public purposes and in a timely manner to avoid having to make unplanned expenditures for capital improvements or equipment from its general fund budget.
The City intends to issue debt for the purposes stated in this Policy and to implement policy decisions incorporated both in the City’s annual operations budget as well as the CIP.
Policy Goals
The City is committed to long-term financial planning, maintaining appropriate reserves levels, and employing prudent practices in governance, management, and budget administration. It is a policy goal of the City to protect taxpayers, ratepayers, and constituents by utilizing conservative financing methods and techniques so as to obtain the highest practical credit ratings (if applicable) and the lowest practical borrowing costs.
The City will comply with applicable state and federal law as it pertains to the maximum term of debt and the procedures for levying and imposing any related taxes, assessments, rates, and charges.
When refinancing debt, it shall be the policy goal of the City to realize, whenever possible, and subject to any overriding non-financial policy considerations, (i) minimum net present value debt service savings equal to or greater than 3.0% of the refunded principal amount, and (ii) present value debt service savings equal to or greater than 100% of any escrow fund negative arbitrage.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
Consultants
The City will, when appropriate and given the specific requirements of the financing, secure the services of independent financial advisors, underwriters, disclosure council, bond council, appraisal services and other service providers.
Investment of Bond Proceeds
Bond proceeds will be invested according to the City-adopted Investment Policy or the Bond Fiscal Agreement, if applicable. The City will not use derivatives unless the City adopts a separate comprehensive Derivatives Policy.
Ongoing Administration and Internal Controls
When issuing debt, in addition to complying with the terms of this Debt Policy, the City will comply with any other applicable policies regarding initial bond disclosure, continuing disclosure, post-issuance compliance, and investment of bond proceeds.
The City will accurately account for all debt-related activity. These records will be designed to ensure that the City maintains compliance with all debt covenants, as well as state and federal laws. The City will maintain a system of reporting interest earnings that relates to and complies with Internal Revenue Code requirements relating to rebate, yield limits and arbitrage.
Compliance
Initial Disclosure
In accordance with Senate Bill 1029 (2016) (“SB1029”), the City will submit a report of final sale to the California Debt and Investment Advisory Commission, not later than 21 days following the sale of the debt. A copy of the final Official Statement shall accompany the report of final sale. In the event that the Official Statement has not yet been finalized, the City will provide documentation to satisfy the requirements of SB1029, as necessary.
Ongoing Disclosure
The City will maintain compliance with the regulations set forth in Government Code Section 8855(i), Rule 15(c)2- 12 – Securities and Exchange Commission Rule 15(c)2-12, Continuing Disclosure (“Rule 15(c)2-12”) and SB 1029.
Section 8855(i), Rule 15(c)2-12 – The City will file an annual report and annual financial information with the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access System (EMMA). The reports will be made timely and in accordance with Rule 15(c)2-12 as amended.
SB 1029 – The City will submit an annual report for any issue of debt whose final sale occurred on or after January 21, 2017. The annual report will cover the reporting period July through June 30 and will be submitted no later than seven months following the end of the reporting period.
Adoption by Legislative Body
In accordance with SB1029, the City and the Cathedral Ci ty Public Finance Authority will adopt this policy. In implementing this policy from time to time, interpretations and variations may be made at the discretion of the City’s Manager or Chief Financial Officer, without approval of the Council, as determined by such person to be in the best interests of the City or its citizens, and/or for purposes of administrative efficiency or convenience or to comply with new applicable federal, state, or local law.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
REIMBURSEMENT FOR TRAVEL AND TRAINING, AND VEHICLE USE POLICY The purpose of this Reimbursement for Travel and Training, and Vehicle Use Policy is to formalize an accountable plan and uniform procedures for travel expenses & reimbu rsing city employees for training, travel, meetings, and out of pocket expenses incurred while on official business.
The City hereby formalizes its policies and procedures for the reimbursement of training, general travel and other actual necessary expenses incurred by eligible individuals in the course of performing their official duties.
GENERAL POLICY
This policy formalizes standards for travel and business expenses incurred while performing or conducting official City business.
Eligible Individuals:
o All employees at the City covered by a collect ive bargaining agreement and all employees covered by Regulations Covering Executive, Administrative, Professional, Confidential, and Other Particular Employees.
o Councilmembers and members of boards, commissions, committees.
The City Manager and department heads are charged with the responsibility of authorizing travel and reimbursement, per this policy, and ensuring that all expenditures hereunder are within approved budget limits.
All employees requesting reimbursement for allowed expenses, other than meals, shall provide a valid itemized receipt. Any such receipt shall include or be accompanied by documentation of the name of the vendor (e.g., hotel, airline, taxi), the date and purpos e of service and actual amount charged. Employees shall file a Travel Expense Report for reimbursement through the Employee Self Service system.
In the event a receipt is not available to subst antiate an expense, the employee may submit a written explanation, with all pertinent expense and situati onal details, through their organizational chain of command to their respective department head. Requests approved by a department head may be sent to the City Manager, or designee, who will review su ch requests for reimbursement and make a final determination as to approval or denial. Reimbursement requests for business expenses without original receipts will be processed for payment only upon approval by City Manager, or designee.
Discretion: This policy does not claim to have addressed all contingencies and conditions. Any necessary and reasonable expense that may from time-to-time be ju stified due to circumstances or opportunities for the City or any necessary and reasonable expenses that may deviate from the provision of this Policy, may be presented to the City Manager, or designee for their review and approval. The City Manager, or designee shall exercise due diligence to ensure that expenses are reasonable and necessary for the conduct of City business, are within budgetary limits and ensure the City's fiscal position by minimizing costs.
o If an expense is not outlined in this policy, it may be subject to dismissal or rejection.
Personal and business travel shall not be commingled in such a manner as to increase allowable expense or otherwise adversely affect the interest of the City.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
DEPARTMENT TRAINING AND TRAVEL BUDGETS
Departments will be provided an annual budget for business travel, conferences and training based upon their unique requirements. Departments should monitor their travel and training expenditures to ensure approved allocations are not exceeded. If the overall departmental budgeted allocation has been spent, and additional travel is necessary, authorization by the City Manager, or designee’s required.
JOB TRAINING
The City supports job training as an ongoing process and as an important tool to help employees remain current in their job responsibilities and skills. All training is subjec t to available funds; however, job-required training will be given preference in the decision-making process for expending training funds. The City encourages training opportunities that can be obtained in a cost-effective manne r. Such opportunities will be given priority over other similar types of training.
Job Required Training: Includes mandated certifications, licenses or mandatory training required to perform the duties and responsibilities of a job. This may also include mandated safety training, technical or professional training, seminars an d conferences, workshops, and similar programs. For employees required to obtain certification to perform the duties of their job, the City will pay all expenses required to obtain the certification one time. If the employee is required to retake the test, the expenses will be the employee’s responsibility unless waived by the City Manager.
Job Related Training: Includes general types of traini ng related to the performance of current job duties, development of skills, or training t hat would assist an employee’s advancement within their department and/or organization.
Covered by MOU: These sections are not meant to pr ovide greater or different rights than those that exist in any Memorandum of Understanding (MOU). To the extent that any MOU addresses this topic and/or there is a conflict, the provisions of the MOU will govern.
COMPENSABLE TIME
Time attending any work-related training in which the cost is paid by the City is compensable time.
Travel Time: The principles which apply in determining whether time spent in travel is compensable time depends upon the kind of travel involved.
o Traveling during normal work hours is considered compensable work time, except for travel to and from the normal fixed or assigned workplace.
o If travelling to a location that is one other than the normal fixed or assigned workplace, an employee’s time traveling to and from the abnor mal or not assigned workplace location is compensable.
Travel Away from Home: Travel that keeps an employ ee away from home overnight is travel away from home. Travel away from home is work time when it cuts across the employee's workday. The time is not only hours worked on regular working days during normal working hours but also during corresponding hours on nonworking days.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
Home to Work Travel: An employee who travels from home before the regular workday and returns to their home at the end of the workday is engaged in ordinary ho me to work travel, which is not work time and is not compensable.
Time spent by an employee commuting to and from work is not work-related travel and is not compensable time.
Lunch or meal breaks are not compensable time unless the lunch includes a speaker and/or is considered a working lunch as evidenced by the agenda.
GENERAL TRAVEL
Employees shall select the most economical method of transportation in terms of expense to the City and the employee’s time away from the office. Employees shall receive approval, per the below, prior to making any travel arrangements.
o If travel expenses total more than five thousand dollars ($5,000), including registration, lodging, meals, and transportation (all expenses outlined in the travel approval form), travel shall be approved by the City Manager or designee.
o If travel expenses total less than five thousand dollars ($5,000), including registration, lodging, meals, and transportation (all expenses outlined in the travel approval form), travel need only be approved by the employee’s Department Head.
Upon approval of travel, City credit cards may be us ed to make travel arrangements. Receipts, approval forms, and expense reports shall be submitted when reconciling City credit card statements.
o Employees who do not have a City credit card may have their supervisor or other department employee reserve lodging on their behalf using a City credit card.
o A travel advance may also be requested for lodging expenses. (Refer to Section J for additional information relating to travel advances.)
If itemized receipts are not included in the Travel Expense Report, the employee may be responsible for travel expenses.
An employee who extends the appr oved travel for their own convenien ce will not be entitled to any additional allowance for meals or lodging.
Travel on behalf of the City in case of an emergency may be exempt from provisions of this section with approval from the City Manager. Expense reports or other paperwork will be completed and submitted as soon as practical upon return from travel, but no longer than thirty (30) days after travel expenses occurred.
A valid California driver’s license with appropriate endorsement is required if the employee is driving a City, personal, or rental vehicle while on City business. It is the employee’s responsibility to maintain a valid California driver’s license and report any changes to their supervisor. (Refer to Section M for additional information relating to private automobile.)
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
If more than
one employee is attending the same training, employees shall attempt to arrange to carpool, either using a City pool vehicle or a designated em ployee’s personal vehicle. Personal vehicle mileage reimbursement will not be paid to more than one employee when carpooling. Airfare/Train: Allowance for air and train travel is bas ed on actual round trip coach fare, tourist fare or by the method least costly to the City. Employees are expected to make special efforts to take advantage of discounts, special fares, and travel vouchers whenever available at reasonable and convenient times. If an employee opts to travel using a fare above the Coac h rate, the employee shall provide documentation for the two fares and is personally responsible for the cost difference. Travel Insurance: The purchase of travel insu rance requires prior authorization by the employee’s department head for airfare.
Car Rental: Allowance for car rental is based on actual cost to rent a mid-range size vehicle. Employees are expected to make special efforts to take advantage of discounts, special fares, and travel vouchers whenever available at reasonable and convenient times. Employees shall have a valid California driver's license and proof of insurance when using a rental vehicle while on City business. Employees are required to notify Risk Management and/or their department head as soon as possible (within 24 hours) of any event/incident causing property damage, or accident related to the rental car. Taxis, Shuttles, and/or Ride Shares (Uber/Lyft): Taxis, shuttles, and/or ride shares, such as Uber and Lyft may be reimbursed, with no more than 15% gratuity.
Parking Expenses: The City will provide reimbursement for actual cost of parking associated with travel, including parking at the airport, hotel, and conference par king, training, or meeting site or in conjunction with any employee City business activity.
Claims for payment or employee reimbursement shall be allowable when accompanied by a receipt for the purchase and a copy of the ticket purchased or other voucher for the common carrier expense. Government and group rates shall be used when available. Actual costs evidenced by an original, dated receipt and inclusive of all related taxes and other rental fees shall be submitted along with actual gas receipts (dated, vendor name printed on the receipt) obtained for the purchase of gas for the rental vehicle.
ADVANCE TRAVEL AUTHORIZATION
Travel expenses require prior authorization by the Department Head and the City Manager’s (or designee) approval when the estimated total cost (including regi stration, transportation, lodging, and meals) is expected to cost five thousand dollars ($5,000) or more per person. Travel expenses require prior authorization by the employee’s Department Head when the estimated total cost (including registration, transportation, lodging, and meals) is less t han five thousand dollars ($5,000) per person. The Department Head’s approval indicates that the travel is approved and within budget.
USE OF TRAVEL ADVANCE AND/OR TRAVEL EXPENSE REPORT
Each employee submitting a claim for reimbursement under this policy shall file a Travel Expense Report, through the Employee Self Service portal.
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FINANCIAL POLICIES
The Travel Expense Report shall include the date(s) of travel, business destination, total amount, and business purpose. It shall include a copy accompanied by all required supporting documents (expenditure receipts, lodging facility folio, registration forms, and meeting itineraries, conference flyer, etc.).
Claims shall be filed promptly, but no later than 30 days after the expense occurred. Claims filed after this time may not be considered for payment.
Each claim form submitted shall meet the requirements of this policy, including providing receipts and/or credit card slips, and shall be reviewed and approved by the submitting employee's department head and the Financial Services Department for compliance with this policy.
All claim forms and associated documents related to reimbursable City expenditures are considered public records and may be subject to disclosure under the California Public Records Act {Chapter 3.5 (Commencing with Section 6250) of Division 7 Title 1}.
TRAVEL ADVANCES:
Employees may request a travel advance for use in th e course of necessary and allowable travel and shall be requested via the Employee Self Service (ESS) system. The employee's department head shall approve the issuance of cash advances.
Travel advances may be requested for the following expenses:
o Meals
o Lodging
o Air fare
o Car rental
If a travel expense is not listed above, it sha ll be reimbursed after the fact. Typical reimbursable expenses include mileage, transportation (ride shares), and parking.
Travel advances are to be documented and reported in the same manner as expenses incurred and submitted for reimbursements, e.g., receipts shall be saved (exceptions apply to meal expenses – Section L), a claim form may be submitted, expenses are limi ted, approvals of expenses shall be secured, etc.
Should there be unused travel advance, the City shall be reimbursed within five (5) days if the following applies:
o Travel arrangements have been cancelled; or,
o At the conclusion of travel.
Notwithstanding, a travel advance of any denomin ation will not be granted whenever the requesting employee has an open travel-advance on file, wherein the employee has not submitted the necessary receipts and paperwork confirming the previous advance was used in its entirety for actual and necessary expenditures in accordance with this policy.
Travel advances will be provided through payroll. A Claim Voucher sh all be submitted to payroll through the Employee Self Service (ESS) system.
o Travel shall occur within 30 days of the advance.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
LODGING AND RELATED EXPENSES:
Lodging and overnight stays are not authorized for travel under 50-miles from the city limits. They may be authorized for travel more than 50 miles from City limits.
Employees should seek the most affordable rates available for safe, convenient, clean accommodations at 3-star quality properties, using government, group, or discounted rates when available at reasonable and convenient times. In addition to the primary travel cost, e.g., room rate, etc., an employee making lodging arrangements should also consider secondary costs, e.g., internet service fees, property use fees, etc.
o Reservations for lodging should be booked as early as possible to take advantage of lower rates.
When lodging is in connection with a conference or organized educational activity, lodging expenses shall not exceed the group rate published by the conferen ce sponsor for the conference in question. The employee shall endeavor to stay at the conference sponsored lodging facility.
Lodging expenses over $250 per night shall be appro ved by the City Manager, or designee. If the GSA’s lodging per diem rate for the destination site is greater than $250, the corresponding GSA per diem rates shall be submitted with the travel approval form for review by all approving parties.
o However, this requirement does not apply if a conference sponsor has set aside rooms for conference attendees at a lodging facility. Instead, you shall book lodging directly with the lodging facility.
The group rate shall be clearly defined in the supporting documents provided by the conference coordinators or conference sponsor (all supporting documents shall be accompanied with the travel approval form).
Actual and necessary cost of lodging and related expenses, including advance payments to any city employee shall be allowed, except as otherwise provided in this Section.
Lodging in upgraded rooms is allowable if:
o the employee pays the cost difference and provides proof of the price difference for the original and upgraded rooms; or,
o the employee or their department can document that no other option exists, and the selected lodging is the only option available – supporting documentation shall be attached to the travel approval form.
Lodging and related expenditures outside the provisions of this policy may be allowed only when pre- approved by the City Manager, in accordance with Section General Policy - Discretion.
An employee's reimbursement claims for lodging shal l include an explanation of the business purpose of the stay and be supported by receipts, a facility folio, and shall be accompanied by all approved travel forms. When reconciling City Credit card travel expe nses shall be included as supporting documents for invoice reconciliation.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
MEAL EXPENSES:
Meal expenses shall be allowed at the maximum dai ly meal allowance rate of $60 ($15 for breakfast, $20 for lunch, and $ 25 for dinner) per employee, inclusiv e of taxes and reasonable tips. Per diem advances and reimbursements for meals shall be allowed when related to attendance at conventions, scheduled meetings, conferences, seminars, special training, or assignments that require an overnight stay.
o An employee's meal reimbursement claim shall be based on meals while enroute to the training site, at training, and enroute home, but does not include breakfast on the departure date and dinner on the return home date.
o Meal expenses up to the per diem rate do not require a receipt to be allowable. Meal expenses beyond the per diem reimbursement allowance are the responsibility of the employee. If an employee uses a City credit card for meals, then the employee will reimburse the City if any meal limit amounts identified above are exceeded.
o Meals included in a conference or meeting r egistration are not eligible for reimbursement.
Therefore, if a meal is provided by conference or meeting registration, but the traveler chooses to eat elsewhere, the added meal expense is not reimbursable.
Meal expenses during attendance at any single day ev ent will be allowable only when it is not reasonable for the employee to provide their own meal(s). Requests for a same-day travel meal shall only be allowed when preapproved by the employee's department head, in accordance with this policy. In evaluating any request for same-day meal reimbursements, the employee's department head shall consider special situations on a case-by-case basis, taking into consideration the distance traveled and the duration of the specific business activity. The maximum reimbursement for any same day event should be $20 for lunch.
PRIVATE AUTOMOBILE
With the exception of employees receiving an automobile stipend, the City's preference is for all employees to use City vehicles rather than personal vehicles.
The City's private-vehicle mileage reimbursement rate is the same as the Internal Revenue Service (IRS) standard mileage rate (www.irs.gov) for private vehicles and will be effective concurrently with IRS periodic establishment of said rate.
Mileage shall be calculated by deducting the employee’ s normal commute from the total number of miles to and from the destination.
Mileage reimbursements for use of a private vehicle shall be allowed upon authorization of the employee's department head. Reimbursement of private mileage will only be granted when a more economical means of travel is not available. However, travel/map do cumentation shall be provided with the travel expense form. In any case, mileage will not be reimbursed for po rtions of the trip made for non-business-related matters.
Private vehicle expenses are allowable when in the course and scope of employment, including overnight travel.
o Private vehicle use shall be approved by the employee's department head.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
o In the event of an incident or accident, the City does not assume responsibility for any physical damage to an employee's personal vehicle or for the payment of any kind of deductible.
o Employee shall maintain a valid dr iver's license, which is appropriate for the class of vehicle to be operated. If any restrictions apply, the employee shall notify their supervisor of the restrictions and/or any and all changes in the license (i.e., suspended, etc.).
The use of motorcycles, mopeds, and similar types of v ehicles for the conduct of City business is expressly prohibited, with the exception of personnel on duty in a specific assignment.
When a department head or the City Manager authorize s use of a private vehicle for the convenience of the driver, instead of more economical travel by air, reimbursement shall not exceed the cost of usual airfare, plus ground transportation.
o The quote shall be accompanied by the Travel Expense Report.
Employees are required to notify Risk Managemen t and the employee's department head, as soon as possible, but in no event more than twenty-four (24) hours after any incident or accident, unless physically unable.
Neither an employee receiving a monthly auto allowanc e nor an employee utilizing a city owned vehicle in their regular scope of employment is eligible to receive private-vehicle mileage reimbursement.
LOCAL TRANSPORTATION, TOLLS, AND PARKING
Public transportation use is described as local tran sportation and can be claimed with itemized receipts.
Bridge and road tolls may be reimbursable with receipts.
Receipts are required for reimbursement of allowable parking fees.
MISCELLANEOUS EXPENSES:
Miscellaneous expenses, including charges for fax servic e, internet, the cost of usual or necessary services and supplies, including emergency repairs, parts or towi ng for City vehicles, conference registration fees, vehicle parking, bridge tolls, and any other justifiable business expenses shall be allowed if the expense is necessary for the employee to conduct City related business or is otherwise a legitimate business need.
A satisfactory explanation and documentation of t he circumstances is required for these miscellaneous expenditures. An employee's reimbursement request for actual miscellaneous expenses shall be accompanied by an original receipt or other original voucher.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
NON-REIMBURSABLE EXPENSES:
Expenses that the city will not reimbu rse include, but are not limited to:
o Purchases made for goods and/or services of a business owned (whether in whole or in part) by any current member of the City Council, or other authority for which the city is a partner agency.
o The personal portion of any trip.
o Political or charitable contributions.
o Family expenses, including spouse or partner's expenses when accompanying an employee on agency-related business, as well as children- or pet-related expenses.
o Personal guest expenses
o Entertainment expenses, including but not limited to theater, movies (either in-room or at the theater), recreational events not related to City business (including gym, massage and/or golf related expenses), and cultural events not related to City business.
o Personal automobile expenses, including repairs, traffic citations, insurance, or gasoline.
o Personal alcohol or bar expenses, even when incu rred in conjunction with reimbursable meal expenses.
o Personal losses incurred while on City business.
o Expenses bearing no relation to City business, ev en if incurred while traveling for City business.
o If an expense is not outlined in this policy, it may be subject to dismissal or rejection.
PENALTIES:
Penalties for the misuse of public resources, non-com pliance with this policy or falsifying expense reports in violation of expense reporting policies may include, but are not be limited to, employee discipline as well as the penalties specified in state law including:
o The loss of reimbursement privileges.
o Restitution to the local agency.
o Civil penalties for misuse of public resources pu rsuant to Section 8314 of the Government Code; and,
o Prosecution for misappropriation of public resources, per Section 424 of the Penal Code.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
FINANCIAL POLICIES
EXEMPTIONS
The City Manager or Designee is authorized to exempt, by ratification after the expense is incurred or prior to the expense being incurred, any City personnel from the official rules, regulations, and procedures set forth herein under extenuating circumstances.
The City Manager or Designee may, at their discretion, approve or disapprove any of the types of travel and/or business expenses outlined above, or any other expense not listed, as they deem appropriate under the specific circumstances.
The City Manager or Designee shall decide all questions of interpretation of the policies, rules, regulations, and procedures set forth herein.
DISPUTES
Disputed expenditures may be brought to t he City Manager or Designee for resolution.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
DEBT ADMINISTRATION
The City of Cathedral City (“City”) has financed capital acquisitions by issuing bonds and entering into capital leases.
The table below highlights the total principal and interest due for FY 2023/2024 and FY 2024/2025. Amounts due beyond the current two-year budget period are summarized in a single line.
Separate tables identifying principal and interest amounts are included in the individual sections that follow.
BONDS
Lease Revenue Bonds
Lease revenue bonds were issued by the Cathedral City Public Financing Authority (“Authority”) and loaned to the City. The City pledged lease revenues to the Authority for repayment of the bonds. Monies from the 1997 bonds were used to make a construction loan to Big League Dreams Sports, LLC for the construction of a sports complex and community park. In July 2015 the authority sold lease revenue refunding bonds to refund the 1997 bonds.
On April 13, 2022, the Cathedral City Public Financing Aut hority issued Cathedral City Public Financing Authority Lease Revenue Bonds, 2022 Series A (Federally Taxable) in the amount of $28,780,000. The purpose of the issuance of the bonds was to refinance a portion of the City’s CalPERS Obligation and refund the outstanding Authority Lease Revenue Refunding Bonds Series 2015A (Taxable). The City Council approved the issuance of the pension obligation bonds on September 15, 2021.
The table below highlights the total principal and interest due for FY 2023/2024 and FY 2024/2025 on the new issue. Amounts due beyond the current two-year budget period are summarized in a single line.
Year Ended
June 30
Lease
Revenue
Bonds
Limited
Obligation
Bonds
Tax
Allocation
Bonds
Capital
Lease
Obligations Total
2024 3,664,632$ 2,806,091 5,075,077 - 11,545,800 2025 3,609,694 2,808,942 5,075,001 - 11,493,636 2026 - 2036 24,597,955 25,494,294 34,624,955 - 84,717,203 Total 31,872,281$ 31,109,327 44,775,032 - 107,756,639
OUTSTANDING DEBT
Year Ended
June 30 Principal Interest Total
2024 2,705,000$ 959,632 3,664,632
2025 2,730,000 879,694 3,609,694
2026 - 2033 20,715,000 3,882,955 24,597,955 Total 26,150,000$ 5,722,281 31,872,281
LEASE REVENUE BONDS
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DEBT ADMINISTRATION
Local Agency Revenue Bonds
Local Agency Revenue bonds were issued by the Authority and used to purchase outstanding Assessment District Bonds: Assessment District 96-1 (Rio Vista), Assessment District 01-01, Assessment District 03-01 (35th Avenue), Assessment District 04-01 (Dream Homes) and Assessment District 04-02 (Cove). In addition, the Authority’s 2004 Limited Obligation Refunding Bonds, were refunded. Repaym ent of the bonds is secured solely by the payments received from the purchased assessment district bonds.
The table that follows highlights the total principal and interest due for FY 2023/2024 and FY 2024/2025. Amounts due beyond the current two-year budget period are summarized in a single line.
Tax Allocation Bonds
The proceeds of various tax allocation bonds issued by the Authority were either loaned to the former redevelopment agency to assist in financing the acquisition and construction of capital projects within the redevelopment area or used to purchase debt of the former redevelopment agency. Tax increment revenues were pledged by the former redevelopment agency to the Authority for debt service.
The State of California dissolved all redevelopment agencies in January 2012. Effective February 1, 2012, the Successor Agency to the RDA was established to pay all enforceable obligations of the former redevelopment agency. The tax allocation bonds are considered an enforce able obligation. Property taxes are allocated to the Successor Agency to the RDA from Riverside County based on the annually approved Recognized Obligation Payment Schedule (ROPS), which includes the bond payments.
In October 2014, the Successor Agency to the RDA issued Tax Allocation Refunding Bonds, Series 2014A ($46,140,000), Tax Allocation Housing Revenue Refunding Bonds, Series 2014B ($15,630,000) and Taxable Tax Allocation Housing Revenue Refunding Bonds, Series 2014C ($11,985,000). These bonds refunded the Cathedral City Public Financing Authority’s 2002 Tax Allocation Bonds, Series A; 2002 Tax Allocation Bonds, Series D; 2002 Tax Allocation Bonds, Series E; 2004 Tax Allocation Bonds, Series A; 2005 Tax Allocation Bonds, Series A; and a portion of the 2000 Tax Allocation Bonds, Series A.
In January 2021, the Successor Agency to the RDA issued Tax Allocation Revenue Refunding Bonds, Series 2021A ($26,195,000), Tax Allocation Revenue Refunding Bond s, Series 2021B ($5,905,000) and Subordinate Taxable Tax Allocation Revenue Refunding Bonds, Series 2021C ($18,840,000). These bonds refunded the Cathedral City Public Financing Authority’s 2004 Tax Allocation Bonds, Series B; 2007 Tax Allocation Bonds, Series A; and 2007 Tax Allocation Bonds, Series C.
Year Ended
June 30 Principal Interest Total
2024 1,880,000 $ 926,091 2,806,091
2025 1,955,000 853,942 2,808,942 2026 - 2036 20,970,000 4,524,294 25,494,294 Total 24,805,000$ 6,304,327 31,109,327
LOCAL AGENCY REVENUE BONDS
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DEBT ADMINISTRATION
The table below highlig
hts the total principal and interest due on the remaining tax allocation bonds for FY 2023/2024 and FY 2024/2025. Amounts due beyond the current two-year budget period are summarized in a single line. The table does not include the refunding bonds issued by the Succ essor Agency to the RDA as these bonds are the sole responsibility of the Successor Agency to the RDA (a private purpose trust fund).
Year Ended
June 30 Principal Interest Total
2024 2,891,094 $ 2,183,984 5,075,077
2025 3,015,528 2,059,473 5,075,001
2026 - 2036 23,084,379 11,540,575 34,624,955
Total 28,991,000$ 15,784,032 44,775,032
TAX ALLOCATION BONDS
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
LEGAL DEBT MARGIN
Under State law, the City has a legal debt limitation not to exceed 15% of the total assessed valuation of taxable property within the City boundaries. In accordance with California Government Code Section 43605, only the City’s general obligation bonds are subject to the legal debt limit. With no outstanding debt subject to the legal debt limit and a legal debt limit of $773,530,976, the City is not at risk of exceeding the legal debt limit.
Legal Debt Margin Calculation as of June 30, 2022
Assessed value (net taxable) 1 $ 5,348,739,839
Debt limit (15% of assessed value) $ 802,310,976
Less outstanding debt (subject to legal debt limit) (28,780,000)
Legal debt margin $ 773,530,976
1 Source: HdL Coren & Cone (Riverside County Assessor 2021/22 Combined Tax Rolls), as reported in City of Cathedral City, California Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2022.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
APPENDICIES
Glossary of Acronyms
Glossary of Terms
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GLOSSARY OF ACRONYMS
A
AB: Assembly Bill
ABC: Alcohol Beverage Control
ACBCI: Agua Caliente Band of Cahuilla Indians
ACFR: Annual Comprehensive Financial Report
AD: Assessment District
ADA: Americans with Disabilities Act
ADFAP: Assessment District Fee Assistance Program
AFSCME: American Federation of State, County and Municipal Employees ALS: Advanced Life Support
AO: Ambulance Operator
APWA: American Public Works Association
ATP: Active Transportation Program
B
BLS: Basic Life Support
C
CA: California
CAD: Computer Aided Dispatch
CALED: California Association for Local Economic Development CalPERS: California Public Employees’ Retirement System CCFMA: Cathedral City Fire Management Association
CCHS: Cathedral City High School
CCPD: Cathedral City Police Department
CCPFA: Cathedral City Professional Firefighters Association CCPMA: Cathedral City Police Management Association
CCPOA: Cathedral City Police Officers Association
CDBG: Community Development Block Grant
CDTFA: California Department of Tax and Fee Administration CERT: Community Emergency Response Team
CFD: Community Facilities District
CHIP: Community Home Improvement Program
CIP: Capital Improvement Project
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GLOSSARY OF ACRONYMS
CIWMB: Countywide Integrated Waste Management Bureau
CMO’s: Collateralized Mortgage Obligations
COP: Citizens on Patrol
COVID-19: Novel Coronavirus 2019-nCoV
CPR: Cardiopulmonary Resuscitation
CRRA: California Resource Recovery Association
CSO: Community Resource Officer
CURC: City Urban Revitalization Corporation
CV: Coachella Valley
CVAG: Coachella Valley Association of Governments
CVEP: Coachella Valley Economic Partnership
CVRep: Coachella Valley Repertory
CVWD: Coachella Valley Water District
CY: Calendar Year
D
DHRP: Dream Homes Rehabilitation Program
DHS: Desert Hot Springs
DIF: Development Impact Fee
DMV: Department of Motor Vehicles
DRD: Desert Recreation District
DUI: Driving Under the Influence
E
E/O: East of
EAP: Employee Assistance Program
ECD: Early Childhood Development
EDA: Economic Development Authority
EMD: Emergency Management Division
EMD: Emergency Medical Dispatching
EMPG: Emergency Management Performance Grant
EMS: Emergency Medical Service
EMT: Emergency Medical Technician
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
GLOSSARY OF ACRONYMS
EOC: Emergency Operations Center
ERICA: East Riverside County Interoperability Communications Authority ERP: Enterprise Resource Planning
F
FTE: Full-Time Equivalents
FTHB: First Time Home Buyer
FTO: Field Training Officer
FY: Fiscal Year
G
GASB: Governmental Accounting Standards Board
GC: Government Code
GCVCC: Greater Coachella Valley Chamber of Commerce
GEMT: Ground Emergency Medical Transport
GFOA: Government Finance Officers Association
GIS: Geographic Information Systems
H
HBPF: Highway Bridge Program Fund
HEAL: Healthy Eating Active Living
HSIP: Highway Safety Improvement Program
HUD: Housing and Urban Development
I
IES: Inland Empire Section
IO’s: Interest-Only
ISO: Insurance Services Office
L
LAIF: Local Agency Index Fund
LGBT: Lesbian, Gay, Bisexual, Transgender
LWCF: Land and Water Conservation Fund
M
MOE: Maintenance of Effort
MTNs: Medium-Term Notes
N
NFIRS: National Fire Incident Reporting System
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GLOSSARY OF ACRONYMS
NIBRS: National Incident-Based Reporting System
NIMS: National Information Management System
NPDES: National Pollution Discharge Elimination System
O
OPEB: Other Post-Employment Benefits
OSHA: Occupational Safety and Health Administration
OTS: Office of Transportation Safety
P
PACT: Post-Release Accountability & Compliance Team
PBI: Project Budget Indicator
PEG: Public Education and Government
PIP: Parks Improvement Project
PMP: Pavement Management Program
PO’s: Principal-Only
POST: Police Officers Standards Training
PPE: Personal Protective Equipment
PSEC: Public Safety Enterprise Communication
PSR: Project Study Report
PUC: Public Utility Commission
Q
QAF: Quality Assurance Fee
R
RCTC: Riverside County Transportation Commission
RDA: Redevelopment Agency
REAS: Rubberized Emulsion Aggregate Slurry
REMSA: Riverside County EMS Agency
RIPA: Racial Profiling Data Collection
RMRA: Road Maintenance and Rehabilitation Account
RMS: Records Management System
ROPS: Recognized Obligation Payment Schedule
S
S/O: South of
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GLOSSARY OF ACRONYMS
SAS: Statement of Auditing Standards
SB1: Senate Bill 1
SCAG: Southern California Association of Governments
SCAQMD: South Coast Air Quality Management District
SCLP: Short-Lived Climate Pollutants
SCRAP: Student Creative Recycle Art Program
SEMS: Standard Emergency Management System
SFST: Standardized Field Sobriety Test
SHARP: Sewer Hookup Assistance Program
SRRE: Source Reduction Recycling Element
STVR: Short-Term Vacation Rental
T
TAB: Tax Allocation Bond
TDA: Transportation Development Act
TOT: Transient Occupancy Tax
TOWS: Threats, Opportunities, Weaknesses and Strengths
TUT: Transactions and Use Tax
U
UUT: Utility Users’ Tax
V
VHF: Very High Frequency
VLF: Vehicle License Fee
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GLOSSARY OF TERMS
A
ACCRUAL BASIS OF ACCOUNTING: Revenues are recognized when both measurable and earned; expenditures are recorded when services have been substantially performed or goods have been received and the liabilities incurred.
ADOPTED BUDGET: The official budget as approved by the City Council prior to the start of each fiscal year.
AMENDED BUDGET: The official budget as approved by the City Council with amendments approved throughout the budgeted fiscal year.
ANNEXATION: The inclusion, attachment, or addition of territory to a city.
APPROPRIATIONS: A legal authorization granted by a legislative body to make expenditures and to incur obligations for specific purposes. An appropriation is us ually limited in amount and to the time when it may be expended.
ASSESSED VALUATION: A municipality’s property tax base stated in dollars based on real estate and/or other taxable business property for the purposes of taxation, sometimes expressed as a percent of the full market value of the taxable property within a community.
ASSESSMENT DISTRICT: Assessment Districts are created to provide public works improvements to a large area at one time. Municipal bonds are sold for the full cost of the improvements.
AUDIT: An official examination of an organizations or individual’s accounts, performed by an independent entity.
AUTHORITY OR AGENCY: A state or local unit of government created to perform a single activity or a limited group of functions and authorized by the state legislature to issue bonded debt.
B
BALANCED BUDGET: When the budgeted expenditures are equal to or less than the budgeted revenues plus other available sources.
BOND: A security whereby an issuer borrows money from an investor and agrees and promises, by written contract, to pay a fixed principal sum on a specified date (maturity date) and at a specified rate of interest.
BOND DISCOUNT: The amount at which a bond or note is bought, or sold, below its par value excluding accrued interest.
BOND PREMIUM: The amount at which a bond or note is bought or sold above its par value or face value without including accrued interest.
BROKER: A bond trader in the secondary market buying from and selling to bond dealers. Its most common usage is as a description of a bond salesperson.
BUDGET: A plan of financial operation comprised of estimated expenditures for a given period and the proposed means of financing the expenditures (through revenues).
BUDGET MESSAGE: A written discussion of the budget presented by the City Manager, or their designee to the City Council.
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GLOSSARY OF TERMS
C
CALIFORNIA DEPARTMENT OF TAX AND FEE ADMINISTRATION: The state organization responsible for the administration of 30+ different taxes and fees, categori zed as: 1) Prepaid Telephony, 2) Sales and Use Tax, 3) Special Taxes and Fees, or 4) Collection Cost Recovery Fees.
CAPITAL IMPROVEMENT PROJECT (CIP) PLAN: A plan for capital improvements to be implemented each year over multiple years to meet capital needs arising from the assessment of long-term needs. It sets forth the estimated cost for each project and specifies the resources required to finance the projected expenditures.
CAPITAL IMPROVEMENT PROJECT: The budget unit to group activities and costs necessary to implement a specific capital improvement and/or acquisition. A project can include the construction, acquisition, expansion, replacement, or rehabilitation of a physical facility or improvement. Projects often include planning and design, land acquisition, and project management costs related to such facilities and improvements.
CAPITAL OUTLAY: Expenditures for equipment/furniture and fixtures with a cost of more than $5,000 and a useful life exceeding one year.
CAPITAL PROJECTS FUNDS: Used to account for financial resources for the acquisition or construction of major capital facilities other than those financed by proprietary (internal service) and trust funds.
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG): Grants funded by the Federal government’s Department of Housing and Urban Development (HUD) to eliminate blight and provide benefits to low- and moderate-income households.
CONTRACTED SERVICES: Services rendered in support of City operat ions and activities by external parties.
These may be based upon either formal contracts or ad hoc charges.
CUSTODIAL FUND: Used to account for assets held by the City in a fiduciary capacity for individuals, government entities, and others. Such funds are o perated by carrying out the specific ations of trust indentures, statutes, ordinances, or other governing regulations.
CY: Calendar Year
D
DEALER: A corporation or partnership buying, selling, and maintaining an ongoing position in bonds and/or notes.
They are also authorized to underwrite new issues. Some large commercial banks are licensed to act as bond dealers.
DEBT LIMIT: The maximum statutory or constitutional amount of debt the general obligation bond issuer can either issue or have outstanding at any time.
DEBT SERVICE FUNDS: Account for the accumulation of resources set aside to meet current and future debt service requirements (payments) on general long-term debt.
DELINQUENT TAXES: Property taxes that have been levied but remain unpaid on and after the due date. In California, the due dates are November 1 and March 1, and are considered delinquent if not paid by December 10 and April 10, respectively. Special levies and assess ments are often due on these dates as well. When tax delinquencies exceed 5%, the Bond Advisor places the issue on its internal Bond Watch.
DEPARTMENT: A major organizational group of the City with overall management responsibility for an operation or a group of related operations within a functional area.
DEPRECIATION: The expense incurred with the expiration of a capital asset.
DIVISION: An organizational subgroup of a department.
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GLOSSARY OF TERMS
E
ENCUMBRANCE: The commitment of appropriated funds to purc hase goods, which have not been received, or services yet to be rendered.
ENTERPRISE FUNDS: Used to report any activity for which a fee is charged to external users for goods or services.
Traditionally provide significant financial assistance to city’s operations.
EXPENDITURES: Decreases in net financial resources. Expendi tures include current operating expenses which require the current or future use of net current assets, debt service and capital outlays.
EXPENSES: Decreases in net total assets. Expenses represent the total cost of operations during a period regardless of the timing of related payments.
F
FIDUCIARY FUNDS: Used to account for assets held by the City ac ting in a fiduciary capacity for other entities, carrying out specific actions of agreements, ordinance s, and other governing regulations. These funds cannot be used to support City programs.
FISCAL AGENT: Also known as the Paying Agent, the bank, designated by the issuer, to pay interest and principal to the bondholder.
FISCAL YEAR (FY): A 12-month period to which the annual operating budget applies and at the end of which an entity determines its financial position, the results of its operations, and ad opts a budget for the coming year. The City of Cathedral City's fiscal year is from July 1 to June 30.
FIXED ASSETS: Equipment costing $5,000 or more with a useful life more than one year, and not qualifying as a capital improvement project. Includes automotive equipmen t, office equipment, office furniture, acquisitions, landscaping improvements, etc.
FULL-TIME EQUIVALENT (FTE): The conversion of part-time employee hours to an equivalent of a full-time position. For example: one person working 20 hours a week for a year would be 0.5 FTE.
FUND: An independent fiscal and accounting entity with a self -balancing set of accounts, recording resources, related liabilities, obligations, reserves, and equities segregated for the purpose of carrying out specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations.
FUND BALANCE: The equity (assets minus liabilities) of governmental fund and fiduciary fund types. However, for budgeting purposes, a working capital definition of curre nt assets minus current liabilities is used for the computation.
G
GENERAL FUND: The City’s main operating fund used to pay for City services.
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP): Uniform minimum standards of and guidelines for financial accounting and reporting. They govern the form and content of the basic financial statements of an entity. GAAP encompasses the convent ions, rules, and procedu res necessary to defi ne accepted accounting practices at a particular time. They include not only bro ad guidelines of general application, but also detailed practices and procedures. GAAP provides a standard by which to measure financial presentations.
GOVERNMENTAL FUNDS: These funds are used to account for tax-supported (governmental) activities. These include the General Fund, Special Revenue Funds, Capital Projects Funds, and Debt Service Funds.
GRANT: Contributions or gifts of cash or other assets fr om another governmental entity to be expended for a specific purpose, activity, or facility. An example is the Community Development Block Grant awarded by the Federal government.
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GLOSSARY OF TERMS
I
INTERFUND TRANSFERS: Defined as "flows of assets" (such as goods or services) without equivalent flows of assets in return and without requirement for repayment.
INTERGOVERNMENTAL REVENUE: Revenue collected by one government and distributed (usually through some predetermined formula) to another level of government(s).
INTERNAL SERVICE FUNDS: Account for the goods or services prov ided by one fund and/or department to another fund and/or department on a cost reimbursement basis.
ISSUER: A state or local unit of government borrowing money through the sale of bonds and/or notes.
M
MAJOR FUND: Governmental fund or enterprise fund reported as a separate column in the basic fund financial statements and subject to a separate opinion in the independent auditor’s report.
MELLO-ROOS BOND: The Mello-Roos (named for its legislative sponsors) Community Facilities District Act of 1982 established a method whereby almost every municipal subdivision of the state may form a special, separate district to finance a long list of public facilities by the sale of bonds and finance certain public services on a pay-as- you-go basis. These Community Facilities Districts are formed and bonds are issued authorized by a two-thirds vote of the property owners in the district. Typically, the only voters in a district are one or more real estate developers who own or have an option on the land in the district. These land-based financings were nicknamed "dirt bonds" by the Bond Advisor years ago. Bonds are sold to finance facilities that can include school, parks, libraries, public utilities, and other forms of infrastructure . The Districts may provide public services that include police and fire protection, recreation programs, area maintenance, library services, flood, and storm drainage.
Bonded debt service and/or the public services are paid fo r by special taxes levied on the real property within the district. As the developer subdivides and sells off the land, the new property owner assumes the tax burden.
MODIFIED ACCRUAL BASIS: The accrual basis of accounting where revenues are recognized when they become both "measurable" and "available" to finance expenditur es of the current period. All governmental funds and custodial funds are accounted for using the modified accrual basis of accounting.
N
NON-MAJOR FUND: Funds deemed insignificant enough to not wa rrant an individual separate column when reported. These are aggregated and reported in a separate column.
O
OBJECTIVE: A simply stated, readily measurable statement of aim or expected accomplishment within the fiscal year. A good statement of objective should specify a standard of performance for a given program or stated goal.
OPERATING BUDGET: A budget focusing on everyday operating activities and programs. Usually includes personnel, maintenance and operations and capital equipment.
P
PAR VALUE: The face value or principal amount of a bond, usually $5,000, due to the holder at maturity. It has no relation to the market value.
PERSONNEL EXPENSES: Compensation paid to or on behalf of City employees for salaries and wages, overtime, and benefits.
PREMIUM: The amount, if any, by which the price exceeds the pr incipal amount (par value) of a bond. Its current yield will be less than its coupon rate.
PRINCIPAL: The face value of a bond, exclusive of interest. 288|PAGE
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GLOSSARY OF TERMS
PROJECT AREA: An area designated in the Redevelopment Plan for redevelopment and revitalization efforts.
PROPERTY TAX: A tax levied on real estate and personal property. The basic rate in Riverside County is 1% of assessed value, of which the City of Cathedral City receives approximately 16 cents for every dollar collected.
PROPOSED BUDGET: The budget as formulated and proposed by the City Manager. It is submitted to the City Council for review and approval.
PROPRIETARY FUND: These funds are used to account for business-type activities. These include the Internal Service Funds and Enterprise Funds.
R
REDEVELOPMENT AGENCY (RDA): A legislatively established subdivisi on of government established to revitalize blighted and economically depressed areas of a community and to promote economic growth. Tax Allocation Bonds were issued to pay the cost of l and and building acquisition and their redevelopment and are repaid by the incremental increase in property tax revenues produced by the increase assessed value of the area after redevelopment. Redevelopment Agencies were able to sell Housing Mortgage Revenue Bonds to finance housing units within the area, 20% of which must be for low-cost housing. As a result of Assembly Bill X1-26, effective February 1, 2012, redevelopment agencies were dissolved by the state of California.
REFUNDING BOND: The issuance of a new bond for the purpose of retiring an already outstanding bond issue.
RETAINED EARNINGS: An equity account reflecting the accumulated earnings of Proprietary Fund types. For budgeting purposes, the working capital definition of fund balance is used.
REVENUE: Moneys the City receives as income such as tax payments, fees from specific services, receipts from other governments, fines, forfeitures, grants, shared revenues, and interest income.
REVENUE BOND: A municipal bond whose debt service is payable solely from the revenues received from operating the facilities acquired or constructed with the proceeds of the bonds.
ROPS: Recognized Obligation Payment Schedule
S
SELF-INSURANCE: The retention of liabilities, arising out of the ownership of property or from some other cause, instead of transferring risk to an i ndependent third party through the purcha se of an insurance policy. The City currently provides self-insurance for $250,000 for workers' compensation and general liability. The City participates in risk sharing pools related to general liability for losses up to $5 million per occurrence, limited to $10 million.
SPECIAL REVENUE FUNDS: Account for the revenue derived from spec ific taxes or other earmarked revenue sources (other than expendable trusts or for major capital projects) restricted by law or administrative action to expenditures for specified purposes.
SUCCESSOR AGENCY: The agency, such as city or county authorizing the creation of each redevelopment agency or another entity as provided for in Health & Safety Code Section 34173.
SUPPLEMENTAL ROLL PROPERTY TAXES:
Assessed on property that changes ownership during the year and is based on the difference between the new and old assessed values.
T
TAX ALLOCATION BONDS: Bonds repaid with tax increments flowi ng to the Successor Agency to the RDA resulting from an increase in property taxes and assessed values over the original (frozen) base.
TAX BASE: The total resources of the community that are legally available for taxation. 289|PAGE
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GLOSSARY OF TERMS
TAXES: Compulsory charges levied by a government for the purpose of financing services performed for the common benefit. This term does not include specific charges made against certain persons or property for current or permanent benefits such as special assessments. Neither does the term include charges for services rendered only to those paying such charges, e.g., user charges.
TRUSTEE:
A bank designated as the custodian of funds and of ficial representative of bondholders. They are appointed to ensure compliance with the trust indenture.
U
USER CHARGES: Payments made by users or customers of public ly provided services benefiting specific individuals. These services exhibit "public good" characteri stics. Examples of user charges are fees paid for recreational activities, building fees, police fees, etc.
W
WORKING CAPITAL: Working capital (also known as net working c apital) represents the amount of day-by-day operating liquidity available to a business. Along with fixed assets such as plant and equipment, working capital is considered a part of operating capital. It is calculated as current assets minus current liabilities.
Note: This is a universal glossary of terms to include terminology for both the City of Cathedral City Adopted Budget as well as the City of Cathedral City Annual Comprehensive Financial Report.
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GANN Appropriations Limit
Resolutions
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GANN APPROPRIATIONS LIMIT
In 1979, one year after Proposition 13 was adopted, the voters approved Proposition 4, referred to as the Gann Initiative. This proposition is now Article XIIIB of the California Constitution. In June 1990, the original Article XIIIB (Proposition 4) and its implementing Chapter 1205/80 were modified by Proposition III and SB88 (Chapter 60/90).
The Gann Initiative was aimed at government spending and places limitations on appropriations of revenue from the “proceeds of taxes.” These proceeds are defined to include: (1) all tax revenues; (2) revenues from the investment of tax revenues; (3) revenues from user charges and regulatory fees to the extent it exceeds the reasonable cost of providing the service; and (4) local government subventions received from the State.
In order to determine the “Gann Limit,” the City was required to establish a base year 1981/1982 appropriations limitation. Each year this limitation has been adjusted to reflect changes in population and the cost of living.
Beginning with the FY 1990/1991 Appropriations Limit, the annual adjustment factors changed. Instead of using the lesser of California Per Capita Income or U.S. CPI to measure inflation, each city may choose:
The growth in the California Per Capita Income, OR
The growth in the non-residential assessed val uation due to new construction within the city.
In addition, instead of using only the population growth of the city, each city may choose to use the population growth within its county. These are both annual elections.
After determining the dollar limit, the budgeted or anticipated “tax revenues” are calculated and compared to the “Gann Limit.” If the City exceeds its “Gann Limit” in any one year they may avoid a tax refund if they fall sufficiently below the limit in the next fiscal year. They then have two more years to refund any remaining excess by revising tax rates or fee schedules or actually return monies already collected or obtain a successful override vote.
The State Department of Finance and the Riverside County Assessor's Office are charged with providing the data necessary for local jurisdictions to establish their appropri ation limit. According to thes e sources, for purposes of the FY 2023/2024 calculation, the County population increased 0.34% while the City population decreased 0.37%.
As such, the County population increase of 0.34% was used in the calculation. California per capita personal income increased by 4.44%. The City has chosen to use the change in California Per Capita Income as the annual factor.
The tax revenues of the City of Cathedral City are curre ntly at about 48.23% of the “Gann Limit,” which indicates that the City is not overtaxing its citizens.
The FY 2023/2024 Appropriation Limit was calculated as follows:
FY 2022/2023 Appropriation Limit $96,953,579
Increased by an inflation factor composed of the increase in population and increase in CA per capita income
(1.0444 x 1.0034 = 1.048)
X 1.048
FY 2023/2024 Appropriation Limit $101,602,596
The "Proceeds of Taxes", as included in the FY 2023/2024 Adopted Budget, subject to the appropriations limit are estimated to be $49,003,773. Therefore, the City has what is referred to as an appropriation "gap" of $52,598,823 ($101,602,596 - $49,003,773). Simply stated, this means the City could collect and spend up to $52,598,823 more in taxes during FY 2023/2024 without exceeding the Constitutional limit. 292|PAGE
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RESOLUTIONS
RESOLUTION NO. 2023 -
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF CATHEDRAL CITY, CALIFORNIA, APPROVING A BUDGET FOR THE FISCAL YEARS 2023/2024 AND 2024/2025.
WHEREAS, a municipal budget f or the Fiscal Years 2023/2024 and 2024/2025 has been prepared by the City Manager and Financial Services Director; and WHEREAS, the City Council examined said budget and conferred with the City Manager and the Financial Services Director; and
WHEREAS,
the City Council desires to adopt a final budget for the fiscal years; and
WHEREAS
, the City Council has, after du e deliberation and consideration, made such amendments in the proposed final budget as it considered desirable;
NOW, THE
REFORE, BE IT RES OLVED, by the City Council of the City of Cathedral City as follows:
SECTION 1.
The budget, summary of which is attached hereto and made a part of hereof, is hereby approved and amounts thereby appropriated to the departments, activities, and projects. The revenue estimates contained are hereby accepted.
SECTION 2. The
Financial Services Director shall have the authority to adjust the appropriations within each fund, provided however, the total appropriations for the entire fund do not exceed the amounts
approved in this budget resolution (or amending resolution). Said adjustments of the appropriations for each department or activity shall be made only upon written request to the City Manager and/or the Financial Services Director, the form of which shall be prescribed and approved by the Financial Services Director. Once such a written request is properly executed and approved, the Financial Services Department shall make such funds available.
SECTION 3. Transfers
of fund balances from one fund to another shall be approved by the Financial Services Director.
SECTION 4. At
the close of a fiscal year, outstanding Operating Budget purchase commitments for goods and
services will not be carried forward into the next fiscal year. Budgets for the five-year plans are appropriated
for the duration of the project. Therefore, appropriations for the five-year plans and any unfulfilled purchasing commitments at the end of a fiscal year are automatically carried forward to the next fiscal year.
SECTION 5. Financial Services Director is authorized to advance pay the City’s annual obligation to CalPERS
should the advance pay result in savings to the City and any savings would be allocated to the City’s CalPERS reserve to mitigate future rate increases.
SECTION 6.
The repayment of demands prior to audit may be made by the Financial Services Director in conformity with the authority provided by Section 37208 of the Government Code of the State of California.
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SECTION 7. The Financial Services Director shall render a semi-annual report to the City Council on the status of City operational revenues and expenditures.
PASSED, APPROVED, AND ADOPTED
this 24th day of May 2023.
__________________________
Rita Lamb, Mayor
ATTEST:
____________________________
Tracey Hermosillo, City Clerk
APPROVED AS TO FORM:
____________________________
Eric S. Vail. City Attorney
I, TRACEY HERMOSILLO, CITY CLERK of the City of Cathedral City, do hereby certify that the foregoing Resolution was introduced and adopted at a regular meeting of the City Council of the City of Cathedral City held on the 24
th day of May 2023 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Tracey Hermosillo, City Clerk
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RESOLUTIONS
RESOLUTION NO. 2023 –
A RESOLUTION BY THE BOARD OF THE CATHEDRAL CITY PUBLIC FINANCING AUTHORITY APPROVING A BUDGET FOR THE FISCAL YEARS 2023/2024 AND 2024/2025.
WHEREAS, a budget for the Fiscal Years 2023/2024 and 2024/2025 has been prepared by the Cathedral City Public Financing Authority’s Manager (City Manager) and Fiscal Officer (Financial Services Dir
ector); and
WHEREAS,
the Board examined said budget and conferred with the Manager and the Fiscal Officer and
WHEREAS, the Board desires to adopt a final budget for the fiscal year; and WHEREAS, the Board has, after due deliberation and consideration, made such amendments in the proposed final budget as it c
onsidered desirable;
NOW, THE
REFORE, BE IT RESOLVED, by the Board of the Cathedral City Public Financing Authority as follows:
SECTION 1. The budget, a summary of which is attached hereto and made a part of hereof, is hereby approved and amounts thereby appropriated to the departments, activities, and projects. The revenue estimates contained are hereby accepted.
SECTION 2.
The Fiscal Officer shall have the authority to adjust the appropriations within each fund, provided however, the total appropriations for the entire fund do not exceed the amounts approved in this budget r
esolution (or amending resolution). Said adjustments of the appropriations for each department or activity sha
ll be made only upon written request to the Manager and/or the Fiscal Officer, the form of which shall be prescribed an
d approved by the Fiscal Officer. Once such a written
request is properly executed and approved, the Financial Services Department shall make such funds available.
SECTION 3. Transfers of fund balances from one fund to another shall be approved by the Fiscal Officer.
SECTION 4.
At the close of a fiscal year, outstanding Operating Budget purchase commitments for goods and services will not be carried forward into the next fiscal year. Budgets for the five-year plans are appropriated
for the duration of the project. Therefore, appropriations for the five-year plans and any unfulfilled purchasing commitments at the end of a fiscal year are automatically carried forward to the next
fiscal year.
SECTION 5. The repayment of demands prior to audit may be made by the Fiscal Officer in conformity with the authority provided by Section 37208 of the Government Code of the State of California.
SECTION 6.
The Fisca
l Officer shall render a semi-annual report to the Board on the status of operational revenues and expenditures.
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PASSED, APPR
OVED, AND ADOPTED this 24th day of May 2023.
___________________________
Rita Lamb, Chairman
ATTEST:
___________________________
Tracey Hermosillo, Secretary
APPROVED AS TO FORM:
____________________________
Eric S. Vail, Authority Attorney
I, TRACEY HERMOSILLO, SECRETARY of the Cathedral City Public Finance Authority, do hereby certify that the foregoing Resolution was introduced and adopted at a regular meeting of the City Council of the City of Cathedral City held on the 24 th day of May 2023 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Tracey Hermosillo, Secretary
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RESOLUTIONS
RESOLUTION NO. SA-2023-_______
A RESOLUTION BY THE SUCCESSOR AGENCY TO THE CATHEDRAL CITY
REDEVELOPMENT AGENCY APPROVING A BUDGET FOR THE FISCAL YEARS 2023/2024 AND 2024/2025.
WHEREAS, estimates of revenue from all sources and estimates of expenditures required for the proper conduct of the activiti
es of the Successor Agency to the Cathedral City Redevelopment Agency (“Successor Agency”) for the
Fiscal Years 2023/2024 and 2024/2025 has been prepared by the City Manager and Financial Services Director; and
WHEREAS, the Successor Agency has examined said budget and conferred with the City Manager and the Financial Services Director; and
WHEREAS
, the Successor Agency Board desires to adopt a final budget, as approved and presented in the Recognized Obligation Payment Schedule (“ ROPS”) for the fiscal years; and
WHEREAS,
the Successor Agency Board has, after due deliberation and consideration, made such amendments in the proposed final budget as
it considered desirable;
NOW, THE
REFORE, BE IT RESOLVED, by the Successor Agency Board as follows:
SECTION 1. The budget, summary of which is attached hereto and made a part of hereof, is hereby approved and amounts thereby appropriated to the departments, activities, and projects. The revenue estimates contained are hereby accepted.
SECTION 2.
The Financial Services Director shall have the authority to adjust the appropriations within each fund, provided however, the total appropriations for the entire fund do not exceed the amounts approved in this budget resolution (or amending resolution). Said adjustments of the appropriations for each department or activity shall be made only upon written request to the City Manager and/or the Financial Services Director, the form of which shall be prescribed and approved by
the Financial Services Director. Once such a written request is properly e xecuted and approved, the
Financial Services Department shall make such funds available.
SECTION 3
. Transfers of fund balances from one fund to another shall be approved by the Financial Services Director.
SECTION 4.
At the close of a fiscal year, outstanding Operating Budget purchase commitments for goods and services will not be carried forward into the next fiscal year. Budgets for the five-year plans are appropriated
for the duration of the project. Therefore, appropriations for the five-year plans and any unfulfilled purchasing commitments at the end of a fiscal year are automatically carried forward to the next
fiscal year.
SECTION 5. The repayment of demands prior to audit may be made by the Financial Services Director in conformity with the authority provided by Section 37208 of the Government Code of the State of California.
PASSED, APPROVED, AND ADOPTED
this 24th day of May 2023.
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
___________________________
Rita Lamb, Chairman
ATTEST:
____________________________
Tracey Hermosillo, Secretary
APPROVED AS TO FORM:
____________________________
Eric S. Vail, City Attorney
I, TRACEY HERMOSILLO, SECRETARY of the Successor Agency to the Cathedral City Redevelopment Agency, do hereby certify that the foregoing Resolution was introduced and adopted at a regular meeting of the Board of the Successor Agency to the City of Cathedral City Redevelopment Agency held on the 24
th day of May 2023 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Tracey Hermosillo, Secretary
299|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
RESOLUTIONS
RESOLUTION NO. HSA-2023-_____
A RESOLUTION BY THE CITY OF CATHEDRAL CITY AS THE HOUSING
SUCCESSOR AGENCY APPROVING A BUDGET FOR THE FISCAL YEARS 2023/2024 AND 2024/2025.
WHEREAS, estimates of revenue from all sources and estimates of expenditures required for the proper conduct of the activities of the City of Cathedral City as the Housing Successor Agency (“Successor Agency”) for the Fiscal Years 2023/2024 and 2024/2025 has been prepared by the City Manager and Financial Services Director; and
WHEREAS, the Successor Agency has examined said budget and conferred with the City Manager and the Financial Services Director; and
WHEREAS, the Successor Agency Board desires to adopt a final budget for the fiscal years; and
WHEREAS, the Successor Agency Board has, after due deliberation and consideration, made such amendments in the proposed final budget as
it considered desirable;
NOW, THE
REFORE, BE IT RESOLVED, by the Successor Agency Board as follows:
SECTION 1. The budget, summary of which is attached hereto and made a part of hereof, is hereby approved and amounts thereby appropriated to the departments, activities, and projects. The revenue estimates contained are hereby accepted.
SECTION 2.
The Financial Services Director shall have the authority to adjust the appropriations within each fund, provided however, the total appropriations for the entire fund do not exceed the amounts approved in this budget resolution (or amending resolution). Said adjustments of the appropriations for each department or activity shall be made only upon written request to the City Manager and/or the Financial Services Director
, the form of which shall be prescribed and approved by the Financial Services Director. Once such a written request is properly e xecuted and approved, the
Financial Services Department shall make such funds available.
SECTION 3
. Transfers of fund balances from one fund to another shall be approved by the Financial Services Director.
SECTION 4.
At the close of a fiscal year, outstanding Operating Budget purchase commitments for goods and services will not be carried forward into the next fiscal year. Budgets for the five-year plans are appropriated
for the duration of the project. Therefore, appropriations for the five-year plans and any unfulfilled purchasing commitments at the end of a fiscal year are automatically carried forward to the next
fiscal year.
SECTION 5. The repayment of demands prior to audit may be made by the Financial Services Director in conformity with the authority provided by Section 37208 of the Government Code of the State of California.
PASSED, APPROVED, AND ADOPTED
this 24th day of May 2023.
300|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
___________________________
R i t a
L a m b , M a y o r
ATTEST:
____________________________
Tracey Hermosillo, Secretary
APPROVED AS TO FORM:
____________________________
Eric S. Vail, Agency Attorney
I, TRACEY HERMOSILLO, SECRETARY of the Housing Successor Agency, do hereby certify that the foregoing Resolution was introduced and adopted at a regular meeting of the Board of the Housing Successor Agency held on the 24th day of May 2023 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Tracey Hermosillo, Secretary
301|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
RESOLUTIONS
RESOLUTION NO. 2023 -
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF CATHEDRAL CITY,
CALIFORNIA, APPROVING THE CAPITAL IMPROVEMENT PROJECT (CIP) PLAN AND THE PARKS IMPROVEMENT PROJECT (PIP) PLAN FOR FISCAL YEARS 2024 THROUGH 2028.
WHEREAS, the City Council has received the proposed summary of CIP approved projects for Fiscal Years 2022 through 2026; and
WHEREAS, the City Council reviewed said CIP of planned projects and conferred with the City Manager and the Financial Services Director; and
WHEREAS, the City Council desires to adopt the CIP of planned projects for the five-year period; and
NOW, THEREFORE, BE IT RES OLVED, by the City Council of the City of Cathedral City as follows:
SECTION 1. The City Council does hereby adopt the five-year CIP and PIP plans for Fiscal Years 2024 through
2028, a summary of which is attached hereto and made a part of hereof, and amounts are thereby
allocated to the departments, projects, and activities. These amounts are subject to existing priorities and available funds.
SECTION
2. Since budgets for Capital Improvement Projects are appropriated prior to the commencement of the individual project, the attached five-year plans are only intended to be planning documents. The adoption
of the attached plans identifies the amounts planned to be expended during the FY 2023/2024 and FY 2024/2025 budget periods and in each of the subsequent three fiscal years.
SECTION 3. Each project in the attached CIP has previously received independent final approval from the City Council.
SECTION 4.
The funding for each previously approved project is based on the anticipated funding mechanism as of the current date.
SECTION
5. The City Manager or the Financial Services Director shall have the authority to adjust amounts within each fund, provided however, the total amount for the plans does not exceed the amount approved for the plans.
302|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
PASSED, APPR
OVED, AND ADOPTED this 24th day of May 2023.
___________________________
R i t a L a m b , M a y o r
ATTEST:
____________________________
Tracey Hermosillo, City Clerk
APPROVED AS TO FORM:
____________________________
Eric S. Vail, City Attorney
I, TRACEY HERMOSILLO, CITY CLERK of the City of Cathedral City, do hereby certify that the foregoing Resolution was introduced and adopted at a regular meeting of the City Council of the City of Cathedral City held on the 24th day of May 2023 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Tracey Hermosillo, City Clerk
303|PAGE
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and 68‐700 Avenida Lalo Guerrero
Cathedral City, CA 92234
760.770.0378
www.cathedralcity.gov
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Attachment: Adopted Budget Document FY24 & FY25 (3762 : Adopted Fiscal Year (FY) 2023/2024 and FY 2024/2025 Biennial Budget and
Cathedral City Page 1 of 1 Printed on 5/22/2023
Staff Report
City Council
Meeting Date: May 24, 2023
From: Charles McClendon, City Manager
Title: Conference with Real Property Negotiator Pursuant to Government Code Section 54956.8.
Property Location: Approximately 1.8 acres, Parcel 3 of Trac t No. 28339
Negotiating Parties: Unspecified Parties
Property Owner: City of Cathedral City
Under Negotiations: Price and Terms for potential sale of real property
9.A
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Cathedral City Page 1 of 1 Printed on 5/22/2023
Staff Report
City Council
Meeting Date: May 24, 2023
From: Charles McClendon, City Manager
Title: Conference with Real Property Negotiator Pursuant to Government Code Section 54956.8.
Property Location: Approximately 13.5 acres south of East Pa lm Canyon Drive at Date Palm Drive
Negotiating Parties: City of Cathedral City as the Successor Agency to the former Redevelopment Agency and the City Urban Revitalization Corporation
Property Owner: City Urban Revitalization Corporation
Under Negotiati ons: Price and Terms for potential sale of real property
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