Ceres City Council
September 28, 2026

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AGENDA

CITY COUNCIL REGULAR MEETING

CITY OF CERES, CALIFORNIA
City Council Chambers, 2701 Fourth Street
Monday, September 28, 2026 at 6:00 PM
Mailing Address: Ceres City Hall, 2220 Magnolia Street, Ceres, CA 95307-3292 Phone: (209) 538-5700 | Fax: (209) 538-5780
Call to Order
Mayor Lopez
Roll Call
Mayor: Javier Lopez
Vice Mayor: Daniel A. Martinez
Councilmembers: James Casey (District 1); Rosalinda L. Vierra (District 2); Cerina Otero (District 3) Invocation
Invocation by Tim Giannosa, Valley Grace Community Church Pledge of Allegiance
Pledge of Allegiance led by Leilani Acosta, Argus & Endeavor High School

AGENDA
Regular City Council Meeting
September 28, 2026

A. Presentations

1. Hispanic Heritage Month Proclamation

2. Fire Prevention Week Proclamation
Citizen Communications
While the City Council welcomes and encourages participation in City Council meetings, adopted rules allow no more than 5 minutes (Resolution No. 2007-106) for expression of non-agenda items.

Matters under the jurisdiction of the City Council, and not on the posted agenda, may be addressed by the general public; however, California law prohibits the City Council from taking action on any matter which is not on the posted agenda unless it is determined to be an emergency by the City Council. Citizens are entitled to address the City Council on any agenda item subject to the 5-minute provision.

Conflict of Interest Declaration
B. Appointments to Boards/Commissions
C. Consent Calendar
All matters listed on the consent calendar are considered routine in nature and will be enacted by a single motion unless otherwise requested by an individual Councilmember or public for special consideration. Otherwise, the recommendation of staff will be accepted and acted upon by roll call vote.

1. Clerks Report of Posting. The agenda of the September 28, 2026, City Council Meeting was Posted on September 23, 2026.

2. Waive Readings. All Readings of Ordinances and Resolutions are Waived. (Waive readings in full of all ordinances and resolutions on the agenda and declare that said titles which appear on the public agenda shall be determined to have been read by title).

3. Register of Audited Demand(s) Dated September 03, 2026, through September 16, 2026 (Vanessa Portillo)

4. Resolution
Accepting the 2024-2025 City of Ceres Audited Financial Statements & Audited Reports for the Period Ended June 30, 2025 (Vanessa Portillo)

5. Resolution
Approving a Budget Amendment to Increase General Fund Appropriations in the Amount of $326,000 in Revenues and $130,400 in Expenditures for Hinderliter de Llamas & Associates (HdL Companies) for Business License Discovery & Collection Services (Vanessa Portillo)

6. Resolution
Approving the Project Agreement to the Master Agreement for Professional Consultant Services with Crawford & Associates, Inc. for Geotechnical Investigation Services for the

AGENDA
Regular City Council Meeting
September 28, 2026

CML-5241(074) Bike Lane Corridors - Class II Lanes (ENG2226) Project in the Amount of $31,197.92, Approving a Budget Amendment, and Authorizing the Interim City Manager to Execute the Agreement (Michael Beltran)

7. Public Works Monthly Report for July 2026 (Joshua Casas)

8. Resolution
Authorizing the Interim City Manager to Approve a Purchase Order with Muniquip, LLC, for Hidrostahl Betsy Portable Pump System in the Amount of $121,972.81 for the Wastewater Treatment Plant (Joshua Casas)

9. Resolution
Approving the Professional Services Agreement with Advanced Integration & Controls for Phase 1 of the City of Ceres SCADA Upgrade in the Amount of $244,908.00 and Authorizing the Interim City Manager to Execute the Agreement (Joshua Casas)

10. Resolution
Approving a New Subdivision Improvement Agreement for Whitmore Ranch Phase 1, Clarifying Development Fees and Improvement Responsibilities, and Removing the Requirement for Construction of a Future Regional Sewer Upgrade; and Authorizing the Interim City Manager to Execute the Agreement (Michael Beltran)

11. Resolution
Approving Project Agreement No. 8 to the Master Agreement for Professional Consultant Services with Westwood Professional Services, Inc. for CEQA and NEPA Environmental Services for the Crows Landing Road Rehabilitation Project and Crows Landing Lift Station Project in the Amount of $76,691.72 and Authorizing the Interim City Manager to Execute the Agreement (Michael Beltran)

12. Resolution
Approving a Pipeline Crossing Agreement with Union Pacific Railroad Company for the Whitmore Avenue Reconstruction Project; Authorizing Expenditures in an Amount Not to Exceed $250,000 for Union Pacific Railroad Costs Associated with Construction; and Authorizing the Interim City Manager to Execute the Agreement (Michael Beltran)

13. Resolution
Accepting the Parkside Estates, Woodacres and 6th Street Water Main and Service Replacement Project (Project No. 2524) as Complete; Authorizing the Filing of the Notice of Completion; and Authorizing the Release of the Remaining Retention to the Contractor (Michael Beltran)

14. Resolution
Approving Amendment No. 1 to the Professional Services Agreement with Willdan Financial Services, Inc. for the Water and Wastewater Rate Study Update to Include Additional Services and a Solid Waste (Sanitation) Utility Rate Study in the Amount of $31,780, for a Revised Contract Amount of $84,660; Approving a Budget Amendment in the amount of $31,780; and Authorizing the Interim City Manager to Execute the Amendment (Michael Beltran)

AGENDA
Regular City Council Meeting
September 28, 2026

15. Resolution
Awarding the Construction Contract for the Richland Avenue Reconstruction (Project No. 2536) to United Pavement Maintenance, Inc. in the Amount of $3,155,214.65, Approving a 10% Contingency in the Amount of $315,521.47, Approving a 2.5% Construction Support Funds in the Amount of $78,880.37, Approving a Budget Amendment, and Authorizing the Interim City Manager to Execute the Contract (Michael Beltran)

16. Resolution
Approving a Five-Year Fleet 3 Basic In-Car Camera Contract with Axon Enterprise, Inc. in the Amount of $16,434.85. to be Purchased with Traffic Safety Funds, Authorizing the Interim City Manager to Execute the Agreement, and Authorizing the Finance Director to Implement the Budget Amendment (Trenton Johnson)

17. Resolution
Approving a Five-Year Statement of Work with Cotality, a CoreLogic Company in the Amount of $506.38 Per Month, Subject to the Existing Master Services Agreement and Licensing Addendum from 2022 for Access to their Property Intelligence Product using the Araya Platform for Aerial Street and Parcel Maps; and Authorizing the Interim City Manager to Execute the Statement of Work (Trenton Johnson)

18. Resolution
Authorizing the Interim City Manager to Approve the Purchase of Ten (10) Department Firearms, Lights and Holsters in the Amount of $14,530.45 and Approving a Fiscal Year 2026-27 Budget Amendment to Appropriate COPS (SLESF) Funds (Trenton Johnson)

19. Resolution
Approving the City of Ceres Donation Acceptance Policy and Authorizing the Interim City Manager to Implement and Administer the Policy (Steve Williams)

20. Resolution
Approving Amendment No. 1 to the Agreement for Construction or Services with Environment Control for Custodial Services at the City of Ceres Community Center and Authorizing the Interim City Manager to Execute the Amendment (Joshua Casas) Consideration of Item(s) Removed from the Consent Calendar D. Unfinished Business
E. Public Hearing
F. New Business
G. Discussion Items

1. Discussion of First Time Homebuyer Assistance Program (FTHB) (Julian Aguirre) H. Councilmember Referrals
Councilmembers request to have an agenda item placed on a future agenda (pursuant to Chapter 2 - City Council Meetings, J-8. City Council Referrals/Determination of Items for

AGENDA
Regular City Council Meeting
September 28, 2026

Agenda).

I. Reports
At this time, any Councilmembers or City staff will make an announcement, or report briefly on his/her activities.
● Mayor
● City Council
● City Manager
● City Attorney
● Departments
J. Closed Session

1. Public Employee Appointment, Cal. Gov’t Code § 54957(b)(1) Title: City Manager

2. Conference with Labor Negotiators, Cal Gov’t Code §54957.6(a) Agency Designated Representative: Interim City Manager, Steve Williams and Human Resources Director, Delilah Vasquez
Employee Organization: Ceres Police Officers’ Association Employee Organization: First Line Supervisors/Confidential Bargaining Group Employee Organization: Laborers’ International Union of North America (LiUNA!) Employee Organization: Mid-Managers Bargaining Group
Employee Organization: Public Safety Managers
K. Report from Closed Session
Adjournment
The next regularly scheduled City Council Meeting will be held on October 12, 2026, at 6:00 p.m. in the City Council Chambers located in the Community Center at 2701 Fourth Street, Ceres, CA.

AFFIDAVIT OF POSTING
I, Fallon Martin, City Clerk, for the City of Ceres, declare under penalty of perjury that the foregoing agenda for the Regular City Council Meeting was posted on September 23, 2026, at the following locations in Ceres:
• Community Center Display Case - 2701 Fourth Street
________________________________________

AGENDA
Regular City Council Meeting
September 28, 2026

Fallon Martin, City Clerk
Council Agenda:

The City Council agenda is available for public review on the City’s website (www.ceres.gov) and posted at the time and places noted above.

Related Materials:

Any writings or documents provided to a majority of the City Council regarding any item on this agenda will be made available for public inspection at the City Clerk’s Office at City Hall located at 2220 Magnolia Street, Ceres, CA during normal business hours. Persons with questions concerning any agenda item may call the City Clerk’s Office at (209) 538-5731.

Notice regarding Americans with Disabilities Act:

In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting or if you need the agenda and/or the documents in the agenda packet provided in an alternative format, please contact the City Clerk’s office at (209) 538-5731 at least 48 hours prior to the meeting to ensure that reasonable arrangements can be made (28CFR 35.102-35.104 ADA TITLE II).

DECLARING SEPTEMBER 15th – OCTOBER 15th, 2026, AS

HISPANIC HERITAGE MONTH
WHEREAS, each year, Hispanic Heritage Month invites us from September 15th to October 15th to celebrate the rich histories, cultures, and contributions of those connected to Spain, Mexico, the Caribbean, and Central and South America; and
WHEREAS, initiated as Hispanic Heritage Week by President Lyndon Johnson in 1968 and expanded to a month by President Ronald Reagan in 1988, this period encompasses several significant independence anniversaries for Latin American countries, including Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexica, and Nicaragua; and
WHEREAS, this month, Ceres celebrates and honors the growing influence of Hispanic and Latino communities, acknowledging their role as a vital element of our city’s diversity; and
WHEREAS, this month allows us to recognize the resilience, spirit, and accomplishments of the Hispanic community and to recommit to fostering a more inclusive society, offering equal opportunity for all; and WHEREAS, the contributions of our Hispanic residents are integral to our community’s identity, enhancing our cultural traditions and collective aspirations; and
WHEREAS, Ceres continues to create opportunity and promote unity and engagement among people of all cultures within our community.

NOW THEREFORE, I, Javier Lopez, Mayor of the City of Ceres, on behalf of the City Council, Vice Mayor Daniel A. Martinez, Councilmembers James Casey, Rosalinda L. Vierra, and Cerina Otero do hereby proclaim September 15th – October 15th, 2026, as Hispanic Heritage Month in the City of Ceres.

Proclaimed this 28th day of September 2026
___________________________
Javier Lopez, Mayor

PROCLAIMING OCTOBER 4 - 10, 2026, AS

FIRE PREVENTION WEEK

THE CITY COUNCIL
City of Ceres
WHEREAS, the City of Ceres is committed to ensuring the safety and security of all those living in and visiting the community; and
WHEREAS, fire remains a serious public safety concern both locally and nationally, and the presence of lithium-ion batteries in many household devices introduces fire risks; and WHEREAS, most of the rechargeable electronics used in homes daily, including smartphones, tablets, laptops, power tools, e-bikes, e-scooters, and toys, are powered by lithium-ion batteries, which if misused, damaged, or improperly charged, can overheat, start a fire, or explode; and
WHEREAS, the National Fire Protection Association® (NFPA®) reports an increase in battery-related fires, underscoring the need for public education on the safe use of lithium-ion batteries and devices; and
WHEREAS, the way lithium-ion battery devices are charged can make a difference in helping prevent home fires; and
WHEREAS, safe charging includes using the cord and charger that came with your device or one approved by the manufacturer, charging on a hard, flat surface, watching for warning signs like devices that are very hot or start to swell, unplugging when fully charged, and charging larger devices like e-bikes outside and away from exits; and WHEREAS, residents are encouraged to understand that safe charging means making smart choices every time they plug in; and
WHEREAS, the 2026 Fire Prevention Week™ theme, “Charge into Fire Safety™: Safe Charging Is a Superpower,” serves to remind all residents that safe charging can help reduce the risk of fires in homes and communities.

NOW, THEREFORE, BE IT RESOLVED I, Javier Lopez, Mayor of the City of Ceres, on behalf of the City Council, Vice Mayor Daniel A. Martinez, Councilmembers James Casey, Rosalinda L. Vierra, and Cerina Otero, do hereby proclaim October 4–10, 2026, as Fire Prevention Week throughout Ceres, and urge all residents to learn about and practice safe charging habits

Proclaimed this 28th day of September 2026
___________________________
Javier Lopez, Mayor

COUNCIL AGENDA REPORT
City Council
Javier Lopez, Mayor
James Casey, Dist. 1
Rosalinda L. Vierra, Dist. 2
Cerina Otero, Dist. 3
Daniel A. Martinez, Dist. 4
Meeting Date: September 28, 2026
To: Mayor and City Council
From: Steve Williams, Interim City Manager
Contact: Vanessa Portillo, Finance Director, [email protected] Subject: Register of Audited Demand(s) Dated September 03, 2026, through September 16, 2026
Recommended Council Action:

City Council approve the register of audited demand(s) dated September 03, 2026, through September 16, 2026, covering obligations to be paid by general warrants in the amount of $4,216.690.80
Background:

In accordance with Section 37202 of the Government Code of the State of California this is presented here with a summary of demands against the City of Ceres covering obligations to be paid for the period ending September 03, 2026, through September 16, 2026.

Each demand has been audited and I hereby certify to their accuracy and conformance with the budget. Sufficient funds are available for payment of these demands.

I declare under penalty of perjury that the register of audited demands has been examined by me and to the best of my knowledge and belief is a true, correct and complete listing of claims audited and payable.

Reasons for Recommendation:

The Finance Department monitors payments of invoices for accountability, accuracy, and completeness. Budgeted payrolls and demands paid by warrants or checks may be presented to the legislative body for ratification and approval. This allows for invoices to

be paid in a timely manner to establish goodwill with merchants and allows for discounts to be taken where applicable.

Fiscal Impacts:

The attached listing represents the cash disbursements required of normal and usual operations during the period. The disbursements are accounted for in the FY 2026-27 budget. There is a $4,216.690.80 fiscal impact for the period of September 03, 2026, through September 16, 2026.

Existing Policy / Relationship to the Strategic Plan:

N/A
Policy Alternatives:

N/A
Interdepartmental Coordination
N/A
Public Participation:

N/A
Environmental Review:

N/A
Steps Following Approval:

N/A
Attachments:

1. Attachment A - AP Warrant and Visa

ATTACHMENT A
9/17/2026
1 Date PO# Invoice Description Amount
Total: 3,617.41
09/10/26 ALL CAL EQUIPMENT SERVICES, IN SERVICE REQUEST UNIT 30-281-23 3,617.41 Total: 174.00
09/10/26 AGILE OCCUPATIONAL MEDICINE, PC PRE-EMPLOYMENT TESTING 174.00 Total: 772.00
09/10/26 AGILE OCCUPATIONAL MEDICINE, PC JUNE 26 MEDICAL EXAMS 772.00 PIPE FITTINGS 67.98
Total: 1,736.41
TOOLS FOR WORK TRUCK 384.60
TUBE ADAPTER 19.87
PRY BAR 45.50
SOCKET SET 16.24
DUCT TAPE 32.48
100 FT HOSE 63.93
½ SOCKET DRIVER 10.78
KEY HOLDERS 7.59
CHARGER RETURNED/EXCHANGED FOR CAR CHARGER 6.47
UNIVERSAL HOSE 10' 21.56
HOSE HANGER & TOOL ORGANIZER 90.59
CHARGERS 138.02
PAINT FOR USA'S 10.78
WHIP HOSE - SMALL TOOLS - TUBE BRUSH 67.48
CONCRETE- SERVICE LINE REPLACEMENT 23.71
BATTERIES 8 PACK 23.72
RATCHET 30.19
HEAD LAMP- PVC PARTS 189.45
CHAIN LOOP, TAPE, TRIMMER 111.07
TOTE BAG RETURN -75.50
CUTTER- REPLACEMENT RMNG 47.43
TOOL BAG SOCKET ADAPTER 185.62
CITY HALL CUSTODIAL SUPPLIES 27.07
BUSHING VALVES, BRASS PLUGS 54.29
09/10/26 JACT INC. CHEMICALS/ SMALL TOOLS 135.49
AUG 26 ACA REPORTING 497.12
Total: 994.24
09/10/26 ACCORD SYSTEMS, LLC JULY 26 ACA REPORTING FEE 497.12 Total: 840.00
09/10/26 209 MULTIMEDIA CORPORATION 34 RICHLAND AVE RECONSTRUCTION NOTICE INVITING BIDS 840.00 Total: 869.55
15 MONTHLY SECURITY MONITORING @PW'S YARD 49.95
15 MONTHLY SECURITY MONITORING @ PW'S (FIRE) 105.00
15 MONTHLY SECURITY MONITORING @ COSTA FIELDS 49.95
15 MONTHLY SECURITY MONITORING @ WHITMORE MANSION 49.95 15 MONTHLY SECURITY MONITORING MUSEUM/ WHITMORE HOUSE 105.00 15 MONTHLY SECURITY MONITORING @ COMM CENTER (FIRE) 105.00 15 MONTHLY SECURITY MONITORING @ PARKS YARD 49.95
15 MONTHLY SECURITY MONITORING @ CITY HALL/ ANNEX 204.90 Voucher List
City of Ceres
Vendor
15 MONTHLY SECURITY MONITORING @ COMMUNITY CENTER 49.95 15 MONTHLY SECURITY MONITORING @ RIVERBLUFF PARK 49.95
09/10/26 1ST SECURITY & SOUND, INC 15 MONTHLY SECURITY MONITORING @ LEGION HALL 49.95 Total: 54,060.85
09/09/26 INVOICE CLOUD, INC. MONTHLY ONLINE UB BILL PORTAL 26,890.68 09/09/26 INVOICE CLOUD, INC. MONTHLY ONLINE UB BILL PORTAL 27,170.17

ATTACHMENT A
9/17/2026
2 Date PO# Invoice Description Amount
Voucher List
City of Ceres
Vendor
Total: 152,886.44
09/10/26 CITY OF MODESTO 7/1-7/31 NORTH CERES SEWER SRVCS FY26/27 HOS 152,886.44 Total: 132.92
09/10/26 CITY OF CERES "UTILITIES" JUL-26 WATER AT 1921 ROCKEFELLER DR 132.92 Total: 220.00
09/10/26 CALIFORNIA PUBLIC EMPLOYEES' ANNUAL FEE SOCIAL SECURITY ADMIN 220.00 PROPANE FOR OFFICES 973.33
Total: 1,382.50
09/10/26 AASIM PROPANE & GAS CORPORATION PROPANE TANK FOR OFFICE REPAIR 409.17 Total: 339.76
CONCRETE MIX FOR SIDEWALK SERVICE LINE REPLACEMENT 146.31 FILL DIRT SERVICE LINE REPLACEMENT @ CASWELL 77.38
09/10/26 CALIFORNIA LANDSCAPE SUPPLY, INC. FILL DIRT SERVICE LINE REPLACEMENT @ DARWIN 116.07 A/C REPAIR @ WHITMORE HOUSE 802.31
Total: 1,162.31
09/10/26 CAL AIR SOLUTIONS INC. PD HVAC REPAIR 360.00
Total: 1,050.00
09/10/26 BARRO STRUCTURAL STEEL, LLC LABOR TO BUILD 3 BRACKETS FOR STORM DRAIN PITS 1,050.00 Total: 189,180.35
09/10/26 AXON ENTERPRISE, INC. BODY WORN CAMERA MAINTENANCE 189,180.35 Total: 90.36
09/10/26 AT&T MOBILITY 07/23/26 - 08/23/26 MODEMS FOR PD/FIRE VEHICLES 90.36 CLETS LINE - 7/13/26-8/12/26 296.30
Total: 1,746.50
07/24/26 - 08/23/26 CALNET SVCS 27.63
07/25/26 - 08/24/26 CALNET SVC 65.34
07/20/26 - 08/19/26 CALNET SVC 27.83
07/20/26 - 08/19/26 CALNET SVC 501.39
07/20/26 - 08/19/26 CALNET SVC 37.75
07/20/26 - 08/19/26 CALNET SVC 64.48
07/20/26 - 08/19/26 CALNET SVC 27.83
07/20/26 - 08/19/26 CALNET SVC 56.07
07/20/26 -08/19/26 CALNET SVC 106.63
07/20/26 - 08/19/26 CALNET SVC 156.45
07/12/26 - 08/11/26 CALNET SVC 82.14
07/20/26 - 08/19/26 CALNET SVC 132.90
09/10/26 AT&T 07/20/26-08/19/26 ATT T-1 LINE 163.76
Total: 31.76
09/10/26 AT&T 08/07/26-09/06/26 FIRE ALARM SVC 31.76
WASH DOWN HOSE NOZZLE 18.50
Total: 662.54
GATE REPLACEMENT REMOTE 14.68
TRASH BAGS & GRABBER 92.07
PIPE GLUE 68.86
PRESSURE GAUGES 94.04
CARB ADJUSTER REPLACEMENT 27.29
REPLACEMENT BATTREY 82.27
PULL COIL COVER 36.62
PIPE BUSHING REDUCER 10.80
09/10/26 AMAZON CAPITAL SERVICES, INC. WATER PUMP 217.41 Total: 1,097,068.29
28 8/1-30/2026 - CITYWIDE ITS VIDEO DETECTION 111,582.90 28 9/1-4/2026 -EQUIPMENT CITYWIDE ITS VIDEO DETECTION 12,083.92 09/10/26 AM SIGNAL LLC 28 8/1-30/2026 - CITYWIDE ITS VIDEO DETECTION 973,401.47

ATTACHMENT A
9/17/2026
3 Date PO# Invoice Description Amount
Voucher List
City of Ceres
Vendor
Total: 80.00
09/10/26 JAMMU, RULDIP R. JAMMU PC STIPEND 9/1-9/30/2026 80.00 Total: 885.51
09/10/26 I.C. REFRIGERATION SERVICE, INC. COSTA BALL FIELD CONCESSION HOOD SERVICE 885.51 Total: 57.11
09/10/26 HUNT OIL OF CALIFORNIA PROPANE 57.11
Total: 35,271.07
8/1-8/15/26 FUEL FOR PD 10,625.52
8/16-8/31/26 FUEL FOR PW 12,390.41
09/10/26 HUNT & SONS LLC 8/1-8/15/26 FUEL FOR PW 12,255.14 Total: 1,820.00
09/10/26 GROVER LANDSCAPE SERVICES, INC 22600018 OCT 25 LANDSCAPE SERVICES FOR BUSINESS DISTRICT 1,820.00 HOSE FITTINGS 3.22
Total: 139.35
09/10/26 GREEN RUBBER-KENNEDY AG PIPE FITTINGS 136.13
Total: 246.14
09/10/26 GRAINGER VISE FOR SERVICE TRUCK 246.14
Total: 7,989.26
09/10/26 GOBLE SAMPSON ASSOCIATES INC. CL2 PUMP 2 REBUILD KITS, CL2 TANK WEIGHTS 7,989.26 Total: 470.00
09/10/26 GATE-OR-DOOR INC. RIVERBLUFF PARK ENTRENCE GATE REPAIR 470.00 OIL AND FILTERS FOR UNIT 25-404 327.43
Total: 592.56
09/10/26 GARTON TRACTOR, INC FILTERS FOR UNIT 25-402 265.13 Total: 75,010.83
09/10/26 FIRE RISK MANAGEMENT SERVICES 6 SEP 26 EE GROUP INSURANCE ASSESSMENT 75,010.83 Total: 80.00
09/10/26 FRANCISCO MIRELES JR F. MIRELES PC STIPEND 9/1-9/30/2026 80.00 Total: 316.00
09/10/26 FORVIS MARZARS, LLP STATE CONTROLLER REPORTING SPECIAL DISTRICT FINANC 316.00 Total: 3,070.30
09/10/26 FISHER SCIENTIFIC COMPANY, LLC DO THERMO PROBE REPLACEMENT 3,070.30 Total: 294.39
09/10/26 FERGUSON US HOLDINGS, INC COUPLER ½-¾ 294.39
Total: 60.16
CSJVRMA CHECK SHIPPING FEE 28.75
SHIPPING LATE FEES 2.83
09/10/26 FEDERAL EXPRESS DISPATCHER SHIPPING FEE 28.58
Total: 10,538.25
09/10/26 EIDE BAILLY LLP 22600021 AUG 26 ACCOUNTING CONSULTING SERVICES FY25 AUDIT 10,538.25 Total: 80.00
09/10/26 DORIS DAKIN PEREZ D. PEREZ PC STIPEND 9/1-9/30/2026 80.00 Total: 32.00
09/10/26 STATE OF CALIFORNIA DEPARTMENT OF JULY 26 FINGERPRINT APPS 32.00 Total: 25.56
09/10/26 DELTA DENTAL OF CALIFORNIA COBRA PREMIUMS S.VENTURA JULY 2026 25.56 OFFICE WATER - PW 123.63
Total: 203.15
09/10/26 DAIOHS USA INC. OFFICE WATER - WATER DEPT 79.52 Total: 112,050.22
09/10/26 D.A. WOOD CONSTRUCTION, INC. 22600040 PRKSIDE ESTATE,WOODACRES/6TH ST WTR MAIN/SRVC RPL 112,050.22 22600092 7/1-31/2026 - SERVICE RD BRIDGE OVER CERES MAIN 13,054.10 Total: 84,411.68
09/10/26 CONSOR NORTH AMERICA, INC. 22600107 7/1-31/2026 - N.CERES SWR SERV.AREA PUMP & SWR 71,357.58 Total: 80.00
09/10/26 CONDIT, GARY MATTHEW G. CONDIT PC STIPEND 9/1-9/30/2026 80.00 Total: 2,400.00
09/10/26 CNOA M. VIERRA-A.PINON-S.GARCIA 62ND TRAINING 11/20-24 2,400.00 Total: 693.00
09/10/26 CLARK PEST CONTROL, INC, MIDGET ABATEMENT 693.00 Total: 122,900.71
09/10/26 CITY OF TURLOCK JULY26 TURLOCK SEWER USE CHARGES 7/1-8/01/26 122,900.71

ATTACHMENT A
9/17/2026
4 Date PO# Invoice Description Amount
Voucher List
City of Ceres
Vendor
FILTERS FOR UNIT 25-402 AND 25-404 79.05
Total: 924.06
TIRE GAUGE FOR STREETS 39.99
BRAKE FLUID 15.15
SPARK PLUG FITTINGS 9.69
3 BATTERIES 694.71
BATTERY 209.55
CREDIT/ RETURN FOR BATTERY -316.93
BATTERY CORE RETURN/ CREDIT -22.00
SPARK PLUG FITTINGS 24.61
09/10/26 O'REILLY AUTO PARTS BATTERY 190.24
CL2 @ WELL #27 1,363.75
Total: 2,992.31
09/10/26 NORTHSTAR CHEMICAL CL2-WELL #39-40 1,628.56
Total: 3,370.63
09/10/26 TOUCHDOWN FIRE, INC ANNUAL INSPECTION FOR FIRE EXTINGUISHERS 3,370.63 WATER PUMP 850.82
Total: 1,427.89
09/10/26 MUNICIPAL MAINTENANCE EQUIPMENT INC PARTS FOR FLEET 577.07 Total: 1,407.63
09/10/26 MOTOROLA SOLUTIONS, INC 1 RADIO MAINTENANCE 1,407.63 Total: 1,939.60
09/10/26 MOTOR PARTS DISTRIBUTORS INC BREAKPADS,PATCHES,CLUTCH,FILTERS,AIR FILTER,SENSOR 1,939.60 Total: 790.16
BRASS BUSHINGS FOR ONCALL TRUCK 11.21
COUPLING, FLANGE, C TIPS @ WELL 22 517.28
09/10/26 MODESTO WINDUSTRIAL CO FLANG-WATER WELL 22 261.67 8/31/26 UNIFORM SERVICE FLEET 29.85
Total: 424.61
8/31/26 UNIFORM SERVICE FACILITIES 21.80
8/24/26 UNIFORM SERVICE WTR/ WTR CONSERVATION 81.38
8/31/26 MATS FOR PW ADMIN BUILDING 10.00
8/31/26 UNIFPRM SERVICE WTR/WTR CONSERVATION 81.38
8/24/26 UNIFORM SERVICE WASTEWATER 130.08
8/24/26 UNIFORM SERVICE PARKS 48.32
09/10/26 MISSION LINEN SUPPLY 8/24/26 UNIFORM SERVICE FACILITIES 21.80 Total: 769.11
09/10/26 TRENTON JOHNSON T. JOHNSON 08/24/26 - 08/27/26 HOTEL REIMBURSEMENT 769.11 Total: 1,633.24
09/10/26 MICHAEL BELTRAN 08/30/26 -09/03/26 APWA CONFERENCE PER DIEM LODGE 1,633.24 Total: 135.00
09/10/26 MATTHEW WILLIAMS M. WILLIAMS 8/24-8/27/26PARKING FOR WATEREUSE CONF 135.00 Total: 761.64
09/10/26 JAVIER LOPEZ J. LOPEZ 9/23-25/2026 LOCC 2026 ANNUAL CONF 761.64 Total: 10,632.10
WATER QUALITY SAMPLES 833.63
WATER QUALITY SAMPLES 1,433.33
WATER QUALITY SAMPLES 969.86
WATER QUALITY SAMPLES 1,770.26
WATER QUALITY SAMPLES 784.10
WATER QUALITY SAMPLES 1,770.26
WATER QUALITY SAMPLES 833.63
WATER QUALITY SAMPLES 366.50
WATER QUALITY SAMPLES 463.90
WATER QUALITY SAMPLES 1,296.63
09/10/26 MICROBAC LABORATORIES, INC TURLOCK EXPORT SAMPLE ANALYSIS AUG #2 110.00 Total: 5,315.00
09/10/26 LIEBERT CASSIDY WHITMORE 21 07/01/26 - 06/30/27 VALLEY CONSORTIUM FEE 5,315.00 Total: 5,956.00
09/10/26 LEADSONLINE PARENT LLC CELLHAWK USER LICENSE - 11/15/26-11/14/27 5,956.00 Total: 4,593.60
09/10/26 JOSEPH BOSTROM 10 WHITMORE PARK ELECTRICAL PROJ (2517) FY26/27 4,593.60 8/24-09/03/26 GET FIT/ZUMBA GOLD/AQUA FIT CLASSES 494.00 Total: 666.20
09/10/26 JANA KIRCHERT AUGUST B. LINE DANCING CLASSES 172.20

ATTACHMENT A
9/17/2026
5 Date PO# Invoice Description Amount
Voucher List
City of Ceres
Vendor
09/16/26 A & B TRUCK PARTS, INC FILTER FOR UNIT 25-402 49.15 Total: 180.00
09/16/26 209 MULTIMEDIA CORPORATION PUBLIC HEARINGS/NOTICES: CC26-150 180.00 #10 WINDOW ENVELOPES FOR UB NOTICES 456.26
Total: 527.79
09/10/26 WILLEY PRINTING CO., INC. B. ESAU SOLID WASTE BUSINESS CARDS 71.53 Total: 733.84
09/10/26 WILLE ELECTRIC SUPPLY, INC. WIRE FOR SCADA WELL 22 GROUND KIT 733.84 Total: 12,556.49
09/10/26 WESTWOOD PROFESSIONAL SERVICES 22500034 7/5 - 8/1/2026 - MOFFETT RD REHAB/SWR RPLMNT 12,556.49 Total: 795.00
09/10/26 WEST COAST ARBORISTS, INC. 22600000 08/01/26-08/15/26 TREE MAINTENANCE & REMOVAL PROGR 795.00 3 TIRES FOR UNIT 10-241-22 499.28
Total: 2,075.61
6 TIRES FOR FLEET 818.37
1 TIRE FOR UNIT 10-241-22 166.43
09/10/26 VALLEY TIRE SALES, INC. 4 FIRESTONE TIRES FOR FLEET 591.53 Total: 279.69
09/10/26 UNITED SITE SERVICES 8/1/26-8/31/26 RANGE TOILET RENTAL 279.69 Total: 33,052.03
09/10/26 U.S. BANK VISA AUGUST 26 VISAS 33,052.03
Total: 289.54
K9 FOOD - LORD HUFF 100.00
K9 FOOD - GALLENKAMP/FIONA 89.54
09/10/26 M AND D FAMILY ENDEAVORS, INC K9 FOOD - RUSHING/ODIN 100.00 Total: 250.00
09/10/26 TOP DOG POLICE K9 TRAINING AND 3 08/01/26 - 08/31/26 K9 MONTHLY TRAINING 250.00 Total: 10,787.28
09/10/26 TOM PONTON INDUSTRIES, INC REPLACEMENT AUTO SAMPLER 10,787.28 Total: 739.62
09/10/26 THORSEN'S INC. PD UNCLOG DRAIN LINE/ REPAIR TOILETS 739.62 Total: 50.00
09/10/26 T-MOBILE USA, INC PHONE WARRANT 50.00
Total: 3,980.00
09/10/26 SZS ENGINEERING ACCESS INC. 22600090 2/1 - 8/31/2026 ADA SELF EVAL & TRANSITION PLN 3,980.00 Total: 765.00
09/10/26 STANISLAUS COUNTY SHERIFF'S DEPT PIT CERTIFICATION FOR 3 PD STUDENTS 765.00 Total: 304.00
09/10/26 SJVAPCD ATTN: FINANCE PORTABLE GENERATORS ANNUAL REG FAC.ID C8036 304.00 Total: 89.96
09/10/26 SAFE T LITE OF MODESTO INC REFLECTOR VEST 89.96 Total: 80.00
09/10/26 ROBERT R GOBBLE JR R. GOBBLE PC STIPEND 9/1-9/30/2026 80.00 Total: 121.01
09/10/26 REXEL USA, INC. FLEET HVAC PARTS 121.01
BACK UP PLC FOR FAILURE WW & WTR PROCESSES 7,254.21
Total: 7,617.87
09/10/26 REXEL USA, INC. FLEET HVAC REPAIR 363.66
Total: 4,037.50
09/10/26 PIRES, LIPOMI & BURKETT ARCHITECTURAL 22600131 JUL 26-1921 ROCKEFELLER DR BLDG REMODEL(2402)23-24 4,037.50 HOSE FOR UNIT 102 97.54
Total: 137.23
09/10/26 PRICE FORD OF TURLOCK, INC. CLOCK SPRING FOR UNIT 25-293-16 39.69 Total: 48.00
09/10/26 PORAC-PEACE OFFICERS RESEARCH ASSOC OCT-DEC 2026 PORAC DUES FOR RESERVE OFFICERS 48.00 Total: 96.00
09/10/26 PORAC LEGAL DEFENSE FUND OCT-DEC 2026 PORAC LEGAL DEFENSE RESERVE OFFICERS 96.00 Total: 98.00
09/10/26 PLEXUS GLOBAL LLC DOT DRUG TEST 98.00
Total: 120.65
09/10/26 PACIFIC GAS & ELECTRIC 07/31/26 - 08/31/26 PG&E SRVCS 3101 FOWLER RD 120.65 TONER - WATCH COMMANDER 330.09
Total: 524.50
09/10/26 ODP BUSINESS SOLUTIONS, LLC TONER FOR DETECTIVES 194.41

ATTACHMENT A
9/17/2026
6 Date PO# Invoice Description Amount
Voucher List
City of Ceres
Vendor
Total: 97.98
09/16/26 CRESCENT SUPPLY UNIFORM PANTS - AVA OFFICER DE FREITAS 97.98 Total: 36,216.79
09/16/26 CONSOR NORTH AMERICA, INC. 22600092 2/1 - 3/31/2026 -SERVICE RD BRIDGE OVER CERES MAIN 36,216.79 Total: 148,273.70
09/16/26 CITY OF MODESTO 6/1-6/30 NORTH CERES SEWER SRVCS FY25/26 HOS 148,273.70 Total: 147,941.51
09/16/26 CITY OF MODESTO 5/1-5/30 NORTH CERES SEWER SRVCS FY25/26 HOS 147,941.51 Total: 756,828.65
09/16/26 CITY OF MODESTO 5 CITY OF MODESTO FIRE SERVICES - SEPT 2026 756,828.65 Total: 380.00
09/16/26 CHARTER COMMUNICATIONS 9/4-10/3 FIBER INTERNET FOR SCADA WASTEWATER 380.00 22600120 NEW COMPUTER PURCHASE 1,120.61
Total: 2,241.22
09/16/26 CDW-G 22600120 NEW COMPUTER PURCHASE 1,120.61
8/1 -8/31/26 CAR WASHES FOR PW 520.00
Total: 1,080.00
09/16/26 CAR WASH PARTNERS, INC. 8/1 -8/31/26 CAR WASHES FOR PD 560.00 Total: 558.25
09/16/26 BSK ASSOCIATES 39 JUN 26 PRKSIDE WOODACRES & 6TH ST WTR MAIN RPLMNT 558.25 Total: 4,743.50
09/16/26 BLACK WATER CONSULTING ENGINEERS, 22500145 MAY 26 2025 URBAN WATER MANAGEMENT PLAN UPDATE 4,743.50 Total: 375.00
09/16/26 BIG JAY'S TIRES INC. ELECTRICAL ISSUES FOR UNIT 10-062 375.00 Total: 593,630.28
09/16/26 BERTOLOTTI CERES DISPOSAL, INC AUG 2026 GARBAGE BILLING FRANCHISE FEE 593,630.28 36 AUG 26 TRAFFIC SIGNAL MAINTENANCE & REPAIR SERVICE 2,521.00 Total: 5,135.00
09/16/26 BEAR ELECTRICAL SOLUTIONS, INC TRAFFIC SIGNAL RESPONSE 2,614.00 Total: 822.32
09/16/26 AVENU GRS, LLC DATA & ANALYTICS CLEAR ANALYTICS 822.32 07/20/26 - 08/19/26 CALNET SVCS 321.32
Total: 477.77
09/16/26 AT&T 08/07/26 - 09/06/26 CALNET SVCS 156.45
HOSE FOR UNIT 10-228-20 17.60
Total: 78.04
09/16/26 VELOCITY TRIPLE AUTOMOTIVE, INC VALVE FOR UNIT 10-228-20 60.44 Total: 322.66
A/C FILTERS 147.50
PIPE FITTINGS FOR SAMPLE PORT 26.73
PHONE CASE 10.83
FOG INSPECTION SHIRTS 78.00
09/16/26 AMAZON CAPITAL SERVICES, INC. TERMINAL BLOCK FOR RIVERVIEW DRAIN PANEL 59.60 Total: 2,618.00
09/16/26 ALPINE PROTECTIVE SOLUTIONS LLC 22600001 CITY SECURITY SERVICES FOR EIGHT PARKS 2,618.00 Total: 552.00
09/16/26 COUNTY OF ALAMEDA J.BLOUNT: TUITION LNG RIFLE FIREARMS INST 10/26-30 552.00 Total: 466.00
09/16/26 AGILE OCCUPATIONAL MEDICINE, PC AUG 26 PRE-EMPLOYMENT TESTS 466.00 Total: 100.00
09/16/26 ADVANCED TECHNOLOGY DISTRIBUTORS, SEPT 2026 SCADA SYSTEM MONTHLY MONITORING 100.00 Total: 380.12
SMALL TOOLS FOR PARKS 45.49
MASKING TAPE AND DUCT TAPE 16.23
3 TOOLBOX KEYS AND KEYRINGS 20.34
GATES BATTERIES 197.17
GRAFFITI REMOVER 48.94
2 JOHN DEER TRAILER KEYS 12.98
09/16/26 JACT INC. 4 CANS OF GOOF SPRAY CLEANER FOR GRAFFITI 38.97 AIR FILTERS UNIT 25-404 59.90
Total: 109.05

ATTACHMENT A
9/17/2026
7 Date PO# Invoice Description Amount
Voucher List
City of Ceres
Vendor
09/16/26 ODP BUSINESS SOLUTIONS, LLC TONER - SGT NIEUWENHUIS 98.56 Total: 61.08
09/16/26 ODP BUSINESS SOLUTIONS, LLC KEY TAGS & STENO PADS 61.08 Total: 248.84
WIPPER PUMP UNIT 10-203-21 23.61
AIR FILTERS FOR UNIT 40-645 25.58
FUEL FILTERFOR UNIT 40-645-23 29.02
WIPERS & DEF FLUID UNIT 10-203-21 111.77
09/16/26 O'REILLY AUTO PARTS AIR FILTERS FOR UNIT 25-402 58.86 Total: 400.00
09/16/26 NATALIE SALDANA 9/18/26 SENIOR PROM EVENT SNACK 400.00 Total: 1,090.37
9/7/26 UNIFORM SERVICE STREETS 260.64
9/7/26 UNIFORM SERVICE WTR/WTR CONSERVATION 224.29
9/7/26 UNIFORM SERVICE WASTEWATER 206.89
9/7/26 UNIFORM SERVICE FACILITIES 198.29
8/31/26 UNIFORM SERVICE STREETS 159.79
9/7/26 UNIFORM SERVICE FLEET 30.47
09/16/26 MISSION LINEN SUPPLY 9/7/26 MATS FOR PW ADMIN BUILDING 10.00 Total: 1,119.18
09/16/26 JONATHAN BLOUNT J. BLOUNT 10/25-30 LODGING/PER DIEM LNG RIFLE INST 1,119.18 Total: 75.00
09/16/26 GUILLERMINA LOPEZ PEREZ TOILET REBATE #204 75.00 Total: 147.97
09/16/26 MARTIN MARIETTA MATERIALS, INC. 1.57 TONS OF ASPHALT FOR CITY PATCHING 147.97 Total: 2,061.29
09/16/26 KATHRYN FOSTER NON-SWORN PERSONNEL UNIFORM SHIRTS 2,061.29 AUG 2026 UB ONLINE MAINT & SUPPORT FEE 489.00
Total: 7,130.62
09/16/26 INFOSEND, INC. AUG 2026 UB STMT PROC, MAIL PREP & POSTAGE 6,641.62 SMALL TOOLS & CHAINSAW WORK 296.75
Total: 1,008.72
09/16/26 VALLEY FARM SUPPLY STORES, INC POLE SAW- STOCK INVENTORY 711.97 Total: 1,169.70
09/16/26 HERITAGE LANDSCAPE SUPPLY GROUP, INC SPRINKLER VALVE REPAIR KITS 1,169.70 Total: 6,000.00
09/16/26 HINDERLITER, DE LLAMAS & ASSOCIATES 22600101 BUSINESS LICENSE ANNUAL FILLING 6,000.00 DEC 25 LANDSCAPE FOR DOWNTOWN BUSINESS DIST 1,820.00
Total: 2,501.59
09/16/26 GROVER LANDSCAPE SERVICES, INC IRRIGATION REPAIR DOWNTOWN CONTROLLER ISSUES 681.59 SWEEPER CLEAN OUT HOSE 46.80
Total: 54.86
09/16/26 GREEN RUBBER-KENNEDY AG SWEEP WASH OUT HOSE 8.06 HVAC FILTERS 864.14
Total: 1,028.27
09/16/26 GRAINGER HVAC FILTERS 164.13
Total: 350.00
09/16/26 GILLELY DALAIH VALENCIA 9/18/26 SENIOR PROM PHOTOGRAPHER 350.00 Total: 1,026.67

2.14 TONS OF ASPHALT FOR CITY PATCHING 230.83

1.98 TONS OF ASPHALT FR CITY PATCHING 214.38

1.62 TONS OF ASPHALT FOR CITY PATCHING 177.37

2.13 TONS OF ASPHALT FOR CITY PATCHING 229.81
09/16/26 GEORGE REED, INC. 1.59 TONS OF ASPHALT FOR CITY PATCHING 174.28 Total: 860.00
09/16/26 GDR ENGINEERING, INC. 22600072 DEC 25 SURVEYOR SVCS-1200 MONTCLAIR PRCL MAP #2 860.00 Total: 4,620.00
09/16/26 NARC DESTROYER, LLC DESTRUCTION/BURN OF ILLEGAL NARCOTICS 4,620.00 Total: 2,320.00
09/16/26 DU-ALL SAFETY, LLC BLOOD BORNE PATHOGEN TRAINING 2,320.00 22500024 4/1-30/2026 - CROWS LANDING RD REHAB 36,017.50 Total: 192,142.89
22600026 8/1-31/2026 - DESIGN FOR SERVICE/MITCHELL INTER 53,572.89 22500024 5/1 - 6/30/2026 - CROWS LANDING RD REHAB 41,087.50 09/16/26 DOKKEN ENGINEERING 22500024 8/1-31/2026 - CROWS LANDING RD REHAB 61,465.00

ATTACHMENT A
9/17/2026
8 Date PO# Invoice Description Amount
Voucher List
City of Ceres
Vendor
Total vouchers: 4,216,690.80
Total: 71.53
09/16/26 WILLEY PRINTING CO., INC. B. ESAU SOLID WASTE BUSINESS CARDS 71.53 Total: 19,884.43
22600093 7/5 - 8/1/2026 - MORROW VILLAGE SIDEWALK NEPA 532.37 22500043 7/5 - 8/1/2026 - CENTRAL & HACKETT CORRIDOR SAFETY 6,754.71 09/16/26 WESTWOOD PROFESSIONAL SERVICES 22600122 7/5 - 8/1/2026 - ATP BUILDING CONNECTIVITY PROJ 12,597.35 Total: 2,443.34
09/16/26 VERIZON WIRELESS AUG 5 - SEP 4 2026 VERIZON SV 2,443.34 22 2026 UKG TIMEKEEPING CONTRACT 15,960.00
Total: 20,961.00
09/16/26 KRONOS SAASHR, INC. 22 UKG TIMEKEEPING CONTRACT 5,001.00 Total: 1,400.00
09/16/26 TYLER TECHNOLOGIES, INC. 22500073 MUNIS IMPLEMENTATION 1,400.00 Total: 128,215.24
09/16/26 TURLOCK IRRIGATION DISTRICT AUG 06 - SEPT 07 2026 TID 128,215.24 Total: 795.98
WATER LEAK DETECTION CAMERA 579.04
MAILINGS LABLES -WATER 151.99
09/16/26 STAPLES, INC. OFFICE SUPPLIES-WATER 64.95
32 STAN COUNTY INSPECTION 8/1-8/31 2026 8,834.48
Total: 14,802.43
09/16/26 STANISLAUS COUNTY 32 STAN COUNTY PLAN CHECK 8/1-8/31 2026 5,967.95 Total: 557.00
09/16/26 SAFETY-KLEEN SYSTEMS, INC. WASTE FUELS SERVICES 557.00 4 TRAFFIC SIGNS 570.40
Total: 641.38
09/16/26 SAFE T LITE OF MODESTO INC TRAFFIC SIGNAL RENTAL 70.98 RETURN BLOWER MOTOR/ CREDIT -212.94
Total: 212.96
09/16/26 REFRIGERATION SUPPLIES DIST PD HVAC MOTORS 425.90 Total: 2,390.00
09/16/26 PIRES, LIPOMI & BURKETT ARCHITECTURAL 22600131 AUG 26-1921 ROCKEFELLER DR BLDG REMODEL(2402)23-24 2,390.00 Total: 935.93
SHOCKS FOR UNIT 10-109-25 422.08
FAN MOTOR FOR UNIT 10-130-20 169.07
09/16/26 PRICE FORD OF TURLOCK, INC. SERVICE ON PD VEH. UNIT 10-106-23 344.78 Total: 33.00
09/16/26 PLEXUS GLOBAL LLC AUG 26 DOT DRUG TEST FEE 33.00 08/01/26 - 09/01/26 PG&E SRVCS 420 SERVICE RD 83.75
Total: 672.90
09/16/26 PACIFIC GAS & ELECTRIC PG&E SRVCS VARIOUS LOCATIONS 589.15 TONER - MAGENTA & YELLOW - DETECTIVES 332.07
Total: 937.96
TONER - CHIEF'S EA 341.29
TONER - CYAN - DETECTIVES 166.04

Transaction Description Charge Amount

AL BURKETT
PHONE CHARGER FOR MATEO $40.09
3 ASPHALT RACKS $275.33
4 PAIRS OF INSULATED WIRE STRIPPERS $134.25
MATEO FERNANDEZ SAFETY TOE BOOTS $179.22
AUSTIN LUCERO SAFETY TOE BOOTS $228.06
3/16TH PUNCH $18.39
TORCH FUEL AND WEDGE ANCHORS $266.75
1 PAIR OF ELECTRICAL SAFETY GLOVES $147.00
1 PAIR OF ELECTRICAL SAFETY GLOVES $147.00
Total - AL BURKETT $1,436.09

ANGELICA HERNANDEZ
REFRESHMENTS FOR ORAL PANEL $21.58
LUNCH FOR ORAL PANEL $113.45
OFFICE SUPPLIES $68.25
OFFICE SUPPLIES $4.01
OFFICE SUPPLIES $35.59
REFRESHMENTS FOR ORAL PANEL $14.32
OFFICE SUPPLIES $3.22
LUNCH FOR ORAL PANEL $85.75
REFRESHMENTS FOR ORAL PANEL $26.77
Total - ANGELICA HERNANDEZ $372.94

BOBBY TITUS
SEMINAR TRAINING $199.00
GAS $60.81
PAID PARKING $101.99
GAS $48.61
HOTEL STAY (SEMINAR) $606.22
FUEL $79.99
STEEL TOE BOOTS (JONATHON GOMES) $254.13
STEEL TOE BOOTS (MIKE ESCTACIO) $266.80
PRESSURE TRANSDUCERS $850.74
Total - BOBBY TITUS $2,468.29
Transactions are grouped by cardholder and reflect the selected purchasing-card statement period.

City of Ceres | Purchasing Card Transactions Page 1 of 6 Statement Date: August 22, 2026

CITY OF CERES
Purchasing Card Transactions

Transaction Description Charge Amount

CRISTINA AGUILAR
7/22-8/21/26 ZOOM MEMBERSHIP SUBSCRIPTION $48.00
LUNCH FOR REGIONAL CM MONTHLY MEETING $123.46
C. AGUILAR CMCA MEMBERSHIP 07/2026-06/2027 $300.00
C.AGUILAR: NEW LAW CONFERENCE 11/18-11/20/2026 $600.00
C.AGUILAR: NEW LAW AIRFARE 11/17 & 11/20/26 $176.00
8/22-9/21/26 ZOOM MEMBERSHIP SUBSCRIPTION $48.00
Total - CRISTINA AGUILAR $1,295.46

FALLON MARTIN
CITY COUNCIL MEETING MATERIALS $21.48
LOCC NEW LAW REGISTRATION $600.00
Total - FALLON MARTIN $621.48

JEFFERY GODFREY
APPLE RECEIPT FOR NEW LAPTOP $2,170.42
EXTERNAL HARD DRIVE FOR NEW LAPTOP $161.80
COMMUNITY STICKERS FOR TRAFFIC UNIT $381.08
DRY ICE FOR NATIONAL NIGHT OUT $87.13
FUEL FBINAA CONFERENCE $59.79
FUEL FBINAA CONFERENCE $50.01
FUEL FBINAA CONFERENCE $79.02
Total - JEFFERY GODFREY $2,989.25

JESSICA PULLIAM
COOKING CLASS SUPPLIES $17.91
TRUNK OR TREAT ADVERTISING $455.00
INTERGENERATION SENIOR EVENT - BINGO $105.06
Total - JESSICA PULLIAM $577.97

JOHNNY CARRILLO
INTERVIEW PANEL LUNCH $179.83
EXTRACTOR PUMP F/S 19 $114.34
EXTRACTOR PUMP F/S 19 RETURN ($114.34)
EXTRACTOR PUMP F/S 19 $46.17
LABEL MAKER TAPE $39.00
FAN PULLY- FLEET $43.31
HVAC FILTER FRAMES $453.64
City of Ceres | Purchasing Card Transactions Page 2 of 6 Statement Date: August 22, 2026

CITY OF CERES
Purchasing Card Transactions

Transaction Description Charge Amount
HVAC FAN BELT- FLEET $18.41
FLOOR CLEANER $10.94
BREAKER FINDER TOOL $78.34
PADLOCKS -STOCK $234.31
HVAC COIL CLEANER $57.53
F/S #18 DRYER REPAIR $147.27
F/S #15 DRYER BELT $47.90
PD HVAC BELT $26.83
BOOTS FOR JC $210.35
Total - JOHNNY CARRILLO $1,593.83

JONATHAN FREDERICK
SMALL ETHERNET SWITCHES FOR PD CAMERA TRAILERS $30.84
ANNUAL UNTANGLE SUPPORT RENEWAL $1,587.60
Total - JONATHAN FREDERICK $1,618.44

JOSHUA CASAS
PENS, DRY ERASE MARKERS, HDMI BRACKET $38.28
UNITED FLIGHT TO HOUSTON $476.80
PWX REGISTRATION $709.00
HOTEL STAY HOUSTON- TRIP PROTECTION $37.52
HOTEL STAY HOUSTON CONFERENCE $950.85
SIP PHONE LINE FOR SCADA CALLS $37.29
PHONE CASE, SCREEN PROTECTOR $82.82
Total - JOSHUA CASAS $2,332.56

JULIAN AGUIRRE
BOOK STORES $119.90
CANVA PRO YEARLY SUBSCRIPTION $120.00
Total - JULIAN AGUIRRE $239.90

KEITH GRIEBEL
OVERNIGHT FED EX SHIPMENT OF DOCUMENTS FOR CIVIL SUIT $59.09 CHANDLER: FIRST NIGHT LODGING FOR CAHN CONF $175.00
M.FERRIERA: FIRST NIGHT LODGING FOR CAHN CONF $175.00
WALL: TUITION RIMS CONF SHORT WEEK $900.00
TUTION: RIMS CONF SHORT WEEK $900.00
REIMBURSEMENT FOR KASSANDRA POND SHORT WEEK CONFERENCE PURCHASE ($850.00) City of Ceres | Purchasing Card Transactions Page 3 of 6 Statement Date: August 22, 2026

CITY OF CERES
Purchasing Card Transactions

Transaction Description Charge Amount
REIMBURSEMENT FOR PURCHASING SHORT WEEK OF RIMS CONFERENCE ($850.00) TUITION: KASSANDRA POND FOR THE ENTIRE CONFERENCE $1,400.00 TUTION: FOR ENTIRE CONFERENCE FOR SHERIDAN WALL OCT/ 12-16/26 $1,400.00 TUTION FOR PATTY JACKSON TO ATTEND THE CLEARS CONFERENCE $800.00 CARTER/RAMOS: LODGING FOR ARIDE COURSE $1,359.18
Total - KEITH GRIEBEL $5,468.27

KENNETH VAUGHN
PRESSURE TRANSMITTER FOR WELLS $680.60
CUTTER EDGES FOR WEEDING $86.66
Total - KENNETH VAUGHN $767.26

MARCY PEDERSON
CREDIT ($2.39)
HEAVY DUTY DOUBLE STICK TAPE $26.00
OFFICE CHAIR $1,511.73
SOFTWARE FOR MACPRO $299.99
MUFFINS, COOKIES, NUTS FOR SERGEANT'S TESTING ORAL BOARD $38.66 OPEN SOURCE DATA PLATFORM FOR INVESTIGATIONS $100.00
ICLOUD STORAGE FOR SOCIAL MEDIA TEAM $9.99
OTTERBOXES FOR NEW HIRES - CITY PHONES $136.38
NIGHTSTICKS AND HOLDERS $158.48
BARRIER TAPE $203.93
BUSINESS CARDS - SINGH & KHUON $99.66
OFFICE CHAIR $260.09
FRUIT FOR SERGEANT'S TESTING ORAL PANELS $6.60
LUNCH FOR SERGEANT'S PROMOTION ORAL PANELS $350.27
Total - MARCY PEDERSON $3,199.39

MATTHEW WILLIAMS
CSUS OWP WASTEWATER TRAINING COURSE $75.00
POND LEVEL STAKE $12.55
PESTICIDE LICENSE RENEWALS $140.00
SAFETY TOE WORK BOOTS JAMES MEJIA $261.29
SAFETY TOE WORK BOOTS KEVIN HALEY $188.00
SAFETY TOE WORK BOOTS AARON OJEDA $263.95
COLLECTIONS CERTIFICATION RENEWAL JAIME VILLEGAS $118.00 STATE WATER BOARD FEE $5.53
City of Ceres | Purchasing Card Transactions Page 4 of 6 Statement Date: August 22, 2026

CITY OF CERES
Purchasing Card Transactions

Transaction Description Charge Amount
WASTEWATER GRADE 2 EXAM APPLICATION AARON OJEDA $201.00 Total - MATTHEW WILLIAMS $1,265.32

MICHAEL BELTRAN
WATER BOTTLES FOR EMPLOYEES - CITY HALL SEWER LINE REPLACEMENT PROJ $620.78 PURCHASE MADE IN ERROR $16.15
EAR PLUGS - CITY HALL SEWER LINE REPLACEMENT PROJECT $69.26 PALLET DEPOSIT REFUND - CITY HALL SEWER LINE REPLACEMENT PROJECT ($27.09) BLDG ITEMS - CITY HALL SEWER LINE REPLACEMENT PROJ $466.00 OFFICE SUPPLIES $5.14
CREDIT OF PURCHASE MADE IN ERROR ($16.15)
HOSE - HATCH RD WATER TRANSMISSION PH 3 $624.09
Total - MICHAEL BELTRAN $1,758.18

SCOTT KEYS
HOSE $63.84
CRANE REPAIR $726.57
TRAILER HITCH $115.93
GATE OPENER $674.37
GATE OPENER $674.37
ADOBE ACROBAT $66.25
Total - SCOTT KEYS $2,321.33

SONIA LEDEZMA
RETURN LABEL $3.54
CMSFO CHAPTER MEETING REGISTRATION S. LEDEZMA, B.ROSA, L.ROBBINS,A.MAGDALENO $150.00 LABELS $4.75
OFFICE SUPPLIES $28.22
CLIPBOARDS (2) $5.41
RETURN- ERGONOMICS KEYBOARD & MOUSE COMBO- FINANCE ($108.36) ACCOUNTING TECH PANEL INTERVIEW 08/20 $71.39
Total - SONIA LEDEZMA $154.95

TRAVIS HUDSON
EXTERIOR PAINT AND GLOVES FOR TRIPLE R CLEANUP $37.16
2 TV'S FOR WATCH COMMANDER CARS $190.74
MOLLY STYLE BODY WORN CAMERA HOLDERS FOR SWAT VESTS $515.87 City of Ceres | Purchasing Card Transactions Page 5 of 6 Statement Date: August 22, 2026

CITY OF CERES
Purchasing Card Transactions

Transaction Description Charge Amount
Total - TRAVIS HUDSON $743.77

TRENTON JOHNSON
CHAIRS FOR TOP FLOOR CONFERENCE ROOM $1,511.73
UNIFORM BOOTS / JOHNSON $191.01
Total - TRENTON JOHNSON $1,702.74

VANESSA PORTILLO
FY27 BUDGET BOOK BINDING (2 COPIES) $124.61
Total - VANESSA PORTILLO $124.61
Grand Total Purchases $33,052.03
City of Ceres | Purchasing Card Transactions Page 6 of 6 Statement Date: August 22, 2026

CITY OF CERES
Purchasing Card Transactions

COUNCIL AGENDA REPORT
City Council
Javier Lopez, Mayor
James Casey, Dist. 1
Rosalinda L. Vierra, Dist. 2
Cerina Otero, Dist. 3
Daniel A. Martinez, Dist. 4
Meeting Date: September 28, 2026
To: Mayor and City Council
From: Steve Williams, Interim City Manager
Contact: Vanessa Portillo, Finance Director, [email protected] Subject: Resolution
Accepting the 2024-2025 City of Ceres Audited Financial Statements & Audited Reports for the Period Ended June 30, 2025 Recommended Council Action:

Staff recommends the City Council accept the 2024-2025 City of Ceres audited Financial Statements and the Audit Reports for the period ended June 30, 2025.

Background:

The independently audited Annual Comprehensive Financial Report for the City of Ceres, as of June 30, 2025, is hereby forwarded for review and acceptance by the City Council. The Annual Comprehensive Financial Report includes basic financial statements, footnotes, supplemental information required by the Governmental Accounting Standards Board (GASB) for Generally Accepted Accounting Principles (GAAP) financial report, Management Discussion and Analysis (MD&A) of the financial statements and the City’s independent auditor’s opinion regarding the conformance of the financial statements with GAAP. Based on the audit performed by JJACPA, the City of Ceres received an unmodified opinion, also known as a clean audit. An unmodified opinion indicates that the financial statements, taken as a whole, appear to be presented fairly. An unmodified opinion is the highest level of opinion that can be expressed on audited financial statements.

The purpose of the independent audit is to obtain reasonable assurance that the City’s financial statements are free of material misstatement and are presented in conformity with GAAP. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimated made by management, and evaluating the overall financial statement presentation.

JJACPA also performed agreed-upon procedures on the Appropriations Limit Schedule

and Measure H for the City of Ceres. These procedures were agreed to by the management of the City of Ceres, solely to assist with the compliance with the reporting requirements of Section 1.5 of Article XIII-B of the California Constitution and of the Stanislaus County Initiative Measure H, respectively. No exceptions were noted as a result of the agreed-upon procedures.

Reasons for Recommendation:

Acceptance by the governing body of the annual audit reports is required.

Fiscal Impacts:

Accepting the 2024-2025 City of Ceres Audited Financial Statements and Audit Reports for the Period Ended June 30, 2025 does not have any fiscal impacts. The cost of the services provided by the independent accounting firm, JJACPA, was included in the City’s annual budget.

Existing Policy / Relationship to the Strategic Plan:

N/A
Policy Alternatives:

N/A
Interdepartmental Coordination
N/A
Public Participation:

N/A
Environmental Review:

N/A
Steps Following Approval:

File the City of Ceres Audited Financial Statements with the State of California Controller’s Office, Municipal Securities Rulemaking Board as well as all debt service providers.

Attachments:

Attachment A - Resolution
Attachment B - Ceres Draft

ATTACHMENT A

RESOLUTION
ACCEPTING THE 2024-2025 CITY OF CERES AUDITED FINANCIAL STATEMENTS & AUDITED REPORTS FOR THE PERIOD ENDED JUNE 30, 2025

THE CITY COUNCIL
City of Ceres
WHEREAS, the City’s financial records must be audited annually; and WHEREAS, the City’s financial records for Fiscal Year ending June 30,2025, were audited by the independent auditing firm of JJACPA, Inc; and WHEREAS, an unqualified opinion has been given by the auditors of JJACPA, Inc, to these financial statements’; and
WHEREAS, the report is presented in compliance with the Government Accounting Standards Board pronouncements; and

WHEREAS acceptance by the governing body of the annual report is required.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Ceres does hereby accept the 2024-2025 City of Ceres audited financial statements and audit reports for the period ended June 30, 2025.

PASSED AND ADOPTED by the City Council of the City of Ceres at a regular meeting held on the 28th day of September 2026, by the following vote:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

ABSTAIN: Councilmembers:

APPROVED:

ATTEST:
________________________________
Javier Lopez, Mayor
___________________________________
Fallon Martin, City Clerk

CITY OF CERES, CALIFORNIA

ANNUAL FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED
JUNE 30, 2025
Prepared by:

Vanessa Portillo
Finance Director

ATTACHMENT B

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City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Table of Contents
i
Page
Table of Contents .................................................................................................................................. i Organization Chart ............................................................................................................................. v List of Officials .................................................................................................................................. vii Independent Auditors’ Report ........................................................................................................... 1 Management’s Discussion and Analysis (Required Supplementary Information) ....................... 4 Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position ........................................................................................................ 21 Statement of Activities ............................................................................................................ 22 Fund Financial Statements:

Governmental Funds:

Balance Sheet ................................................................................................................................ 26 Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Position ........................................................................................................ 28 Reconciliation of Fund Basis Balance Sheet to Government-wide Statement of Net Position – Governmental Activities ............................................................. 29 Statement of Revenues, Expenditures, and Changes
in Fund Balances – Governmental Funds ................................................................................ 30 Reconciliation of Fund Basis Statements to Government-wide Statement of Activities ............................................................................................................ 32 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities ............................... 33

INTRODUCTORY SECTION

FINANCIAL SECTION

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Table of Contents, Continued
ii
Page
Basic Financial Statements, Continued:

Fund Financial Statements, Continued:

Proprietary Funds:

Statement of Net Position – Proprietary Funds ............................................................................ 36 Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds ............................................................................................................... 37 Statement of Cash Flows – Proprietary Funds ............................................................................. 38 Fiduciary Funds:

Statement of Fiduciary Net Position – Fiduciary Funds ................................................................ 39 Statement of Changes in Fiduciary Net Position – Private Purpose Trust Funds ......................... 40 Notes to Basic Financial Statements .......................................................................................... 43 Required Supplementary Information:

Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget to Actual – General Fund and
Major Special Revenue Funds ..................................................................................... 92 Schedule of Employer Contributions ...................................................................................... 96 Schedule of the Changes in Net Pension Liability and Related Ratios .................................. 97 Combining and Individual Fund Financial Statements and Schedules:

Nonmajor Special Revenue Funds:

Combining Balance Sheet ............................................................................................................ 104 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances .............................................................................................................. 110 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Street Expansion ............................................................................... 116 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – CDBG Grants ................................................................................... 117 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Street Tree ........................................................................................ 118 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Storm Drain Benefit Districts ........................................................... 119 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Brown Annex ................................................................................... 120 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Eastgate Street Benefit District ........................................................ 121 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – AB 939 ............................................................................................. 122 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Neighborhood Park Fees .................................................................. 123

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Table of Contents, Continued
iii
Page
Combining and Individual Fund Financial Statements and Schedules, Continued:

Nonmajor Special Revenue Funds, Continued:

Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – BEGIN Grant .................................................................................... 124 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Program Income BEGIN .................................................................. 125 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – State Gas Tax .................................................................................... 126 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – SLESF .............................................................................................. 127 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Abandoned Vehicle Abatement ........................................................ 128 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Seized Property ................................................................................. 129 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Downtown Revitalization ................................................................. 130 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Street-Light and Landscape District ................................................. 131 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Traffic Offender ............................................................................... 132 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Traffic Safety .................................................................................... 133 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Used Oil Grants ................................................................................ 134 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Department of Conservation Grant .................................................. 135 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – CMAQ .............................................................................................. 136 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Community Facilities District .......................................................... 137 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Fire Hydrant Benefit District ............................................................ 138 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Transportation Development Act ..................................................... 139 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – LLEBG ............................................................................................. 140 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Public Facilities Fees ........................................................................ 141

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Table of Contents, Continued
iv
Page
Combining and Individual Fund Financial Statements and Schedules, Continued:

Nonmajor Special Revenue Funds, Continued:

Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Daniel Whitmore House ................................................................... 142 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – River Bluff Regional Park ................................................................ 143 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Ceres Community Foundation .......................................................... 144 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Clinton Whitmore Mansion .............................................................. 145 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Road Maintenance and Rehab .......................................................... 146 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – SB2 Planning Grants Program ......................................................... 147 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – SB 1383 ............................................................................................ 148 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – CARES Act ...................................................................................... 149 Internal Service Funds:

Statement of Fund Net Position – Internal Service Funds ........................................................... 151 Statement of Revenues, Expenses, and Changes in Fund Net Position– Internal Service Funds ..................................................................................................... 152 Combining Statement of Cash Flows – Internal Service Funds .................................................. 153 Trust and Agency Funds:

Combining Statement of Net Position – Private Purpose Trust Funds ........................................ 155 Combining Statement of Changes in Fiduciary Net Position– Private Purpose Trust Funds ........................................................................................... 156

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Organization Chart
v

vi
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City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
List of Officials
vii
 Javier Lopez, Mayor
 Daniel A. Martinez, Vice Mayor
 James Casey
 Rosalinda L. Vierra
 Cerina Otero
 Steve Williams, Interim City Manager
 Vanessa Portillo, Finance Director
 Kayla Martinez, City Treasurer
 Fallon Martin, City Clerk
 Nubia Goldstein, City Attorney

CITY COUNCIL

CITY OFFICIALS

viii
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7080 Donlon Way, Suite 204, Dublin, CA 94568 ● phone (925) 556-6200 ● fax: (707) 232-6226 1102 South Main Street, #1, Fort Bragg, CA 95437 ● phone (707) 964-6325 www.jjacpa.com
INDEPENDENT AUDITORS’ REPORT
To the Honorable Mayor and City Council
of the City of Ceres
Ceres, California
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Ceres, as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise City’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Ceres, as of June 30, 2025, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

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

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

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

To the Honorable Mayor and City Council
of the City of Ceres
Ceres, California

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and Government Auditing Standards, we:
 Exercise professional judgment and maintain professional skepticism throughout the audit.  Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.  Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.  Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.  Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

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

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis on pages 4-17, the budgetary comparison information on pages 92-97, the City’s Schedules of Contributions, Pensions on pages 96, and the Schedules of the City’s Proportionate Share of the Net Pension Liability on pages 97, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

To the Honorable Mayor and City Council
of the City of Ceres
Ceres, California

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual nonmajor fund financial statements are presented for purposes of additional analysis and are not a required part of the basic financial statements.

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

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated September 28, 2026 on our consideration of City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering City’s internal control over financial reporting and compliance. ]]TVcT? \ÇvA
September 28, 2026 JJACPA, Inc.

Dublin, CA

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
4 This section provides a narrative overview and analysis of the financial activities of the City of Ceres (City) for the fiscal year ended June 30, 2025. It should be read in conjunction with the accompanying transmittal letter and basic financial statements.

FINANCIAL HIGHLIGHTS
 As of June 30, 2025, total assets of the City exceeded its liabilities by $257,285,230 (net position). The portion of net position that may be used to meet the government’s ongoing obligations to citizens and creditors (unrestricted net position) is $48,738,626. There are currently $16,961,415 of net position that are restricted and may only be used for a specific purpose. The remaining $191,585,189 is the net investment in capital assets.  As of June 30, 2025, the City’s Governmental Activities reported combined net position of $89,514,165 of that, ($5,731,389) is unrestricted.
 As of June 30, 2025, the City’s governmental funds reported combined ending fund balances of $30,797,610. Approximately 88% of this total amount ($26.9 million) is nonspendable, restricted, committed or assigned to indicate that it is not available for new spending because it has already been set aside for a specific purpose due to a law, regulation, or Council action or it is not part of available, spendable resources. Of the remaining balance, $8,497,715 is unassigned general fund balance and ($4,675,152) is unassigned special revenue fund balance.  Capital assets in the governmental activities, net of depreciation, decreased to $78,284,136 from $82,517,825, which includes $111,225,836 of infrastructure per the requirements of GASB 34.

This decrease is attributed to equipment depreciation and major capital projects still under construction.

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
5 OVERVIEW OF THE ANNUAL FINANCIAL REPORT
This Annual Financial Report is in two major parts:
1) Introductory section, which includes general information; 2) Financial section, which includes the Management’s Discussion and Analysis (this part), the Basic Financial Statements, which include the Government-wide and the Fund Financial Statements along with the notes to these financial statements, and supplementary information, which includes Combining and Individual Fund Financial Statements and Schedules.

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

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

All of the City’s activities are grouped into Governmental Activities and Business-type activities, as explained below. All the amounts in the Statement of Net Position and the Statement of Activities are separated into Governmental Activities and Business-type Activities in order to provide a summary of these two activities of the City as a whole.
♦ Governmental activities – All of the City’s basic services are considered to be governmental activities, including general government, community development, economic development, public safety, animal control, engineering, community events, public improvements, planning and zoning, building inspections, and general administration. These services are supported by general City revenues such as taxes and by specific program revenues such as developer fees.

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
6 OVERVIEW OF THE ANNUAL FINANCIAL REPORT, Continued
The Government-wide Financial Statements, Continued
♦ Business-type activities – All the City’s enterprise activities are reported here, including Water, Sewer, and STANCOG. Unlike governmental services, these services are supported by charges paid by users based on the amount of the service they use.

Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into two categories: governmental funds and proprietary funds.

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

Because the focus of the Governmental Fund Financial Statements is narrower than that of the Government-wide Financial Statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the Governmentwide Financial Statement. By doing so, readers may better understand the long-term impact of the government’s near-term financial decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The Governmental Fund Financial Statements provide detailed information about each of the City’s most significant funds, called major funds. The concept of major funds, and the determination of which are major funds, was established by GASB Statement No. 34 and replaces the concept of combining like funds and presenting them as one total. Instead, each major fund is presented individually, with all nonmajor funds summarized and presented only in a single column. Subordinate schedules present the detail of these nonmajor funds. Major funds present the major activities of the City for the year, and may change from year to year as a result of changes in the pattern of the City’s activities.

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
7 OVERVIEW OF THE ANNUAL FINANCIAL REPORT, Continued
Fund Financial Statements, Continued
For the fiscal year ended June 30, 2025, the City’s major funds are as follows:

GOVERNMENTAL FUNDS:
 General Fund
 Measure H Special Revenue Fund
 Community Center Special Revenue Fund
 HOME Program Grants Special Revenue Fund
 Measure L Special Revenue Fund
PROPRIETARY FUNDS:
 Water Enterprise Fund
 Sewer Enterprise Fund
 STANCOG Enterprise Fund
Proprietary funds. The City maintains Enterprise-type and internal service proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the Government-wide Financial Statements. The City uses enterprise funds to account for Water, Sewer, and STANCOG activities. Proprietary funds provide the same type of information as the Government-wide Financial Statements, only in more detail. Internal service funds present operations for services provided within the government. Internal service funds are maintained for equipment, information technology, risk management, and building maintenance activities. The proprietary fund financial statements provide separate information for the all of the enterprise operations and a combined total for the internal service funds, which are consolidated into governmental activities at the government-wide statement level.

Notes to the Basic Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the Government-wide and Fund Financial Statements. The notes to the basic financial statements can be found on pages 43–89 of this report.

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis
8 OVERVIEW OF THE ANNUAL FINANCIAL REPORT, Continued
Combining and Individual Fund Financial Statements and Schedules The combining statements referred to earlier in connection with nonmajor governmental funds are presented immediately following the notes to the financial statements. Combining and individual fund statements can be found on pages 104-156 of this report.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of a government’s financial position.

In the case of the City, assets exceeded liabilities by $257,285,230 as of June 30, 2025.

The Summary of Net Position as of June 30, 2025, and 2024, follows:

Govern- Business- Govern- Businessmental type mental type Activities Activities Total Activities Activities Total Current and other assets 40,888,833 $ 76,581,641 $ 117,470,474 $ 41,992,823 $ 68,328,155 $ 110,320,978 $ Noncurrent assets 84,991,339 106,317,053 191,308,392 89,267,649 107,294,210 196,561,859 Total assets 125,880,172 182,898,694 308,778,866 131,260,472 175,622,365 306,882,837 Deferred outflows: Pension Plan 12,947,820 1,948,920 14,896,740 17,627,564 2,791,810 20,419,374 Total assets and deferred outflows 138,827,992 184,847,614 323,675,606 148,888,036 178,414,175 327,302,211 Current and other liabilities 5,581,233 3,178,077 8,759,310 7,231,816 2,296,922 9,528,738 Long-term liabilities 39,654,704 12,966,454 52,621,158 42,929,916 14,000,306 56,930,222 Total liabilities 45,235,937 16,144,531 61,380,468 50,161,732 16,297,228 66,458,960 Deferred inflows: Pension Plan 4,077,890 932,018 5,009,908 5,403,182 1,170,723 6,573,905 Total liabilities and deferred inflows 49,313,827 17,076,549 66,390,376 55,564,914 17,467,951 73,032,865 Net position:

Net investment in capital assets 78,284,136 113,301,053 191,585,189 82,517,825 114,746,210 197,264,035 Restricted 16,961,415 - 16,961,415 12,911,916 - 12,911,916 Unrestricted (5,731,386) 54,470,012 48,738,626 (2,106,619) 46,200,014 44,093,395 Total net position $ 167,771,065 89,514,165 $ 257,285,230 $ 93,323,122 $ 160,946,224 $ 254,269,346 $ Summary of Net Position
2025 2024
Restricted net position increased by $4,049,499 due to increased revenue from Measure H, Measure L and American Rescue Plan Act (ARPA) funding. The increased revenues are committed to public safety personnel and equipment costs, and projects approved by the City Council, respectively.

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
9 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
The change in net position for the fiscal years ended June 30, 2025, and 2024, follows:

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

Program revenues:

Charges for services 3,873,694 $ 27,840,965 $ 31,714,659 $ 3,650,485 $ 27,036,959 $ 30,687,444 $ Grants and contributions:

Operating 11,014,668 - 11,014,668 10,107,661 - 10,107,661 Capital 3,914,634 7,655,375 11,570,009 5,911,757 14,689,919 20,601,676 General revenues:

Property taxes
and assessments - 4,727,348 4,727,348 4,202,546 - 4,202,546 Sales and use tax 8,068,027 - 8,068,027 8,311,139 - 8,311,139 Utility users tax 1,448,988 - 1,448,988 1,392,511 - 1,392,511 Other taxes 3,179,006 - 3,179,006 3,071,647 - 3,071,647 State motor vehcile in-lieu tax 5,123,995 - 5,123,995 4,851,666 - 4,851,666 Use of money and property 1,348,256 1,978,053 3,326,309 564,919 328,319 893,238 Other general 217,134 27,502 244,636 152,088 3,000,000 3,152,088 Total revenues 42,915,750 37,501,895 80,417,645 42,216,419 45,055,197 87,271,616 Expenses:

Governmental activities:

General government 5, - 022,398 5,022,398 7,536,402 - 7,536,402 Public safety 28,560,787 - 28,560,787 27,127,354 - 27,127,354 Engineering and transportation 205,429 - 205,429 2,158,673 - 2,158,673 Public works 8,809,828 - 8,809,828 5,037,573 - 5,037,573 Community services 3,465,006 - 3,465,006 4,052,287 - 4,052,287 Economic development 357,259 - 357,259 96,216 - 96,216
Interest and fiscal charges - - - 2,632 - 2,632
Business-type activities:

Water - 20,302,782 20,302,782 - 13,300,319 13,300,319
Sewer - 10,678,272 10,678,272 - 9,418,295 9,418,295

STANCOG - - - - - -
Total expenses 46,420,707 30,981,054 77,401,761 46,011,137 22,718,614 68,729,751 Excess (Deficiency) of revenues over
expenditures before transfers (3,504,957) 6,520,841 3,015,884 (3,794,718) 22,336,583 18,541,865 Transfers (304,000) 304,000 - (304,000) 304,000 -
Change in net position (3,808,957) 6,824,841 3,015,884 (4,098,718) 22,640,583 18,541,865 Net position:

Beginning of year 93,323,122 160,946,224 254,269,346 97,421,840 138,305,641 235,727,481 End of year 89,514,165 $ 167,771,065 $ 257,285,230 $ 93,323,122 $ 160,946,224 $ 254,269,346 $ 2025 2024

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
10 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Revenues
The City’s total revenues for governmental and business-type activities were $80,417,645 for the fiscal year ended June 30, 2025. Approximately 36% of the City’s key revenues are generated from four major sources.

The following discusses variances in key revenues from the prior fiscal year:

1. Sales Tax. Annual receipts decreased by 3%. This decrease tracks with trends prior to pandemic.

2. Property Tax. Annual receipts increased by 12%, due to higher real estate activity and rising home prices.

3. Grants and Contributions – Governmental Activities Operating. There was an increase of 9% in Governmental operating grants and contributions mainly due changes in the classification of revenue.

4. State Motor Vehicle In-Tax – Annual receipts increased by 6%. The increase is due to increased vehicle registration fees.

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
11 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Expenses
Governmental and business-type activity expenses of the City for the year totaled $77,401,761.

Governmental activity expenses totaled $46,420,707 or 60% of total expenses. Business-type activities incurred $30,981,054 of expenses during the fiscal year. Public safety costs represented 62% of total governmental activities expenses, which represented the largest single expense for governmental activities.

Governmental Activities
The following table shows the cost of each of the City’s major programs and the net cost of the programs.

Net cost is the total cost less fees and other direct revenue generated by the activities. The net cost reflects the financial burden that was placed on the City’s taxpayers by each of the programs. The total cost of services and the net cost of services for the fiscal years ended June 30, 2024, and 2025, are as follows:

Total Cost Net Cost Total Cost Net Cost
of Services of Services of Services of Services
General government 5,022,398 $ (3,772,267) $ 7,536,402 $ (6,889,151) $ Public safety 28,560,787 (21,365,617) 27,127,354 (20,091,003) Engineering and transportation 205,429 766,738 2,158,673 (677,902) Public works 8,809,828 (843,943) 5,037,573 3,685,861
Community services 3,465,006 (2,045,363) 4,052,287 (2,270,191) Economic development 357,259 (357,259) 96,216 (96,216)
Interest and fiscal charges - - 2,632 (2,632)
Total 46,420,707 $ (27,617,711) $ 46,011,137 $ (26,341,234) $ 2025 2024

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
12 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Revenues by source for the fiscal years ended June 30, 2025, and 2024, are as follows:

Charges for services

9.03%
Operating grants

25.67%
Capital grants

9.12% Property taxes

11.02%
Sales and use tax

18.80%
Utility users tax

3.38%
Other taxes

7.41%
State motor vehicle
in-lieu tax

11.94%
Use of money and
property

3.14%
Other general
revenues

0.51%
Revenues by Source - Governmental Activities
2025
Charges for services

8.65%
Operating grants

23.94%
Capital grants

14.00% Property taxes

9.95%
Sales and use tax

19.69%
Utility users tax

3.30%
Other taxes

7.28%
State motor vehicle
in-lieu tax

11.49%
Use of money and
property

1.34%
Other general
revenues

0.36%
Revenues by Source - Governmental Activities
2024

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
13 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Business-type activities. Business-type activities increased the City’s net position to $167,771,065. The City has three business-type activities: Water, Sewer, and STANCOG. Water accounts for 62%, Sewer accounts for 38% of total business-type activity revenue, and STANCOG accounts for less than 1%. The expenses and program revenues for the business-type activities for the fiscal year ended June 30, 2025, and 2024, are as follows:
$-
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
Water Sewer STANCOG
Program revenues Operating expenses
$-
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
Water Sewer STANCOG
Program revenues Operating expenses
Expenses and Program Revenues
Business-type Activities
2024
Expenses and Program Revenues
Business-type Activities
2025

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
14 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
The revenues by source for the business-type activities for the fiscal years ended June 30, 2025, and 2024, are as follows:

Charges for
services
74%
Investment
earnings
5%
Other general
revenues
0%
Capital Grants
and Contributions
21%
Revenues by Source - Business-type Activities
2025
Charges for
services
60%
Investment
earnings
1%
Other general
revenues
7%
Capital Grants
and Contributions
32%
Revenues by Source - Business-type Activities
2024

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

Governmental funds. The City’s governmental funds provide information on near-term inflows, outflows, and balances of spending resources. At the fiscal year ended June 30, 2025, the City’s governmental funds reported combined fund balances of $30,797,610. This is an increase of $1,646,158 or 5.6% less than last year. The increase was primarily attributable to activity associated with American Rescue Plan Act (ARPA) funding and the timing of revenues and expenditures related to approved ARPA-funded projects completed during the fiscal year. The General Fund is the chief operating fund of the City. At the fiscal year ended June 30, 2025, General Fund unassigned fund balance totaled $8,497,715 with $14,151 as nonspendable.

Community Development Block Grant (CDBG) money is available to cities for a variety of community enhancement activities. In the fiscal year ended June 30, 2025, the majority of this money was used to start the Morrow Village sidewalk improvement project.

Proprietary funds. The City’s proprietary funds net position decreased by $15,815,742 in the fiscal year ended June 30, 2025. This was primarily due to funds received through the TCP settlement and capital contributions from the draw down of State Revolving Loan Funds to build the Stanislaus Regional Water Authority infrastructure. Factors concerning the finances of the three proprietary funds have already been addressed in the discussion of the City’s business-type activities.

General Fund Budgetary Highlights
The difference between the final budget and actual revenues reflects a positive of $1,058,594. This was mainly higher collections of Property Tax and State Motor Vehicle revenue. Total general fund final budget for expenditures was $29,199,813, with actual expenditures of $27,230,125. Expenditures were lower than revenues by $469,710.

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
16 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Capital Assets
The City’s net investment in capital assets for its governmental and business type activities as of June 30, 2025, amount to $184,786,547. This net investment in capital assets includes land, intangible asset, buildings and improvements, machinery and equipment, and infrastructure. 2025 2024 2025 2024 2025 2024
Land 14,753,193 $ 14,753,193 $ 3,291,818 $ 3,291,818 $ 18,045,011 $ 18,045,011 $ Intangible asset - - 65,686,073 65,686,073 65,686,073 65,686,073 Buildings and improvements 23,331,001 23,924,720 2,410,978 2,737,760 25,741,979 26,662,480 Machinery and equipment 7,529,541 7,872,539 907,179 1,095,573 8,436,720 8,968,112 Infrastructure 32,670,401 35,967,373 34,021,005 34,482,986 66,691,406 70,450,359 Total 78,284,136 $ 82,517,825 $ 106,317,053 $ 107,294,210 $ 184,601,189 $ 189,812,035 $ Governmental Activities Business-type Activities Totals Major capital asset events during the year included: the purchase of machinery, equipment, and water infrastructure.

More detail of the capital assets and current activity can be found in the notes to the financial statements on pages 49 and 50 for significant accounting policies and Note 5 on page 62 for other capital asset information.

Economic Outlook
As of June 2026, the national economy continued to expand, although economic uncertainty and inflationary pressures remained. Consumer prices increased 4.2% over the 12-month period ending May 2026, reflecting renewed pressure from energy and other costs. The Federal Reserve maintained the federal funds target range at 3.50% to 3.75% in June, noting that economic activity continued to expand at a solid pace while inflation remained above its long-term 2% objective.

Locally, economic conditions continue to present challenges for the City of Ceres and the surrounding region. Based on the most recent information available as of June 2026, the unemployment rate for Stanislaus County was approximately 6.4% in May 2026, compared with approximately 4.7% statewide.

Unemployment in Ceres has historically remained above both the state and national averages, reflecting the employment characteristics of the Central Valley economy.

The local economy continues to be influenced by agriculture, manufacturing, retail, transportation and warehousing, construction, and service-sector employment. Higher costs for housing, energy, food, and other household necessities continue to place pressure on household budgets and discretionary consumer spending.

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
17 Economic Outlook, Continued
These conditions remain important to the City's revenue outlook. Sales and use taxes represent a significant source of General Fund revenue and are sensitive to changes in consumer spending and broader economic activity. The City therefore continues to use conservative assumptions when forecasting economically sensitive revenues.

The expiration of the American Rescue Plan Act (ARPA) funding period has also reduced the availability of one-time federal resources that provided fiscal flexibility during and following the COVID-19 pandemic. At the same time, the City continues to experience expenditure pressures associated with personnel, contractual services, insurance, utilities, and other operating costs.

In response to these conditions, the City continues to maintain a cautious fiscal approach focused on conservative revenue projections, monitoring expenditures, evaluating service levels and fees, and preserving adequate reserves. The City will continue to monitor national, state, and local economic conditions and adjust its financial strategies as necessary to support long-term fiscal sustainability.

Requests for Information
This Annual Financial Report is intended to provide citizens, taxpayers, investors, and creditors with a general overview of the City’s finances. If you have any questions about this report, need additional financial information, or would like to obtain component unit financial statements, contact Vanessa Portillo, Finance Director, 2220 Magnolia, Ceres, CA 95307, or visit the City’s web page at www.ci.ceres.ca.us/.

18 This page intentionally left blank.

BASIC FINANCIAL STATEMENTS
19

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20

City of Ceres, California
Statement of Net Position
June 30, 2025
Governmental Business-type
Activities Activities Total
ASSETS
Current assets:

Cash and investments 36,391,400 $ 72,245,474 $ 108,636,874 $ Cash and investments with trustee/fiscal agent - 37 37
Receivables:

Accounts receivable 6,127,029 2,684,214 8,811,243
Prepaid items 14,151 4,101 18,252
Inventory - 4,068 4,068
Internal balances (1,647,815) 1,647,815 -
Total current assets 76,581,641 40,888,833 117,470,474
Noncurrent assets:

Advances to fiduciary activities 531,494 - 531,494
Loans receivable 6,175,709 - 6,175,709
Intangible assets - 65,686,073 65,686,073
Capital assets:

Nondepreciable 14,753,193 3,291,818 18,045,011
Depreciable 63,530,943 37,339,162 100,870,105
Total noncurrent assets 106,317,053 84,991,339 191,308,392 Total assets 182,898,694 125,880,172 308,778,866

DEFERRED OUTFLOWS OF RESOURCES
Pension Plan 12,947,820 1,948,920 14,896,740
Total deferred outflows of resources 1,948,920 12,947,820 14,896,740 Total assets and deferred outflows 184,847,614 138,827,992 323,675,606

LIABILITIES
Current liabilities:

Accounts payable and accrued liabilities 2,024,913 2,184,774 4,209,687 Deposits payable 2,627,435 273,635 2,901,070
Unearned revenue 503,569 89,731 593,300
Interest payable - 28,994 28,994
Compensated absences - current 425,316 132,943 558,259
Due within one year 468,000 - 468,000
Total current liabilities 3,178,077 5,581,233 8,759,310 Noncurrent liabilities:

Long-term liabilities:

Compensated absences 637,975 199,414 837,389
Due after one year 6,984,000 - 6,984,000
Liability for claims - 1,723,831 1,723,831
Net pension liability 5,783,040 37,292,898 43,075,938
Total noncurrent liabilities 12,966,454 39,654,704 52,621,158 Total liabilities 16,144,531 45,235,937 61,380,468

DEFERRED INFLOWS OF RESOURCES
Pension Plan 932,018 4,077,890 5,009,908
Total liabilities and deferred inflows of resources 17,076,549 49,313,827 66,390,376

NET POSITION
Net investment in capital assets 78,284,136 113,301,053 191,585,189 Restricted 16,961,415 - 16,961,415
Unrestricted (5,731,386) 54,470,012 48,738,626
Total net position 167,771,065 89,514,165 257,285,230
Total liabilities, deferred inflows, and net position $ 184,847,614 138,827,992 $ 323,675,606 $ The accompanying notes are an integral part of these basic financial statements. 21

City of Ceres, California
Statement of Activities
For the year ended June 30, 2025
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Primary government:

Governmental activities:

General government $ 334,615 5,022,398 $ 915,516 $ - $
Public safety 879,504 6,315,666 - 28,560,787
Engineering and Transportation 225,404 656,562 90,201 205,429 Public works 1,100,830 3,040,622 3,824,433 8,809,828
Community services 1,333,341 86,302 - 3,465,006
Economic development - 357,259 - -
Total governmental activities 46,420,707 3,873,694 11,014,668 3,914,634 Business-type activities:

Water 17,420,008 20,302,782 - 7,655,375
Sewer 10,420,957 10,678,272 - -

STANCOG - - - -
Total business-type activities 30,981,054 27,840,965 - 7,655,375 Total primary government $ 31,714,659 77,401,761 $ 11,014,668 $ 11,570,009 $ General revenues:

Taxes:

Property taxes, levied for general purposes
Sales and use tax
Utility users tax
Other taxes
Intergovernmental:

State motor vehicle in-lieu tax (MVLF)
Use of money and property
Other general revenues
Total general revenues
Transfers
Total general revenues and transfers
Change in net position
Net position:

Beginning of year
Net position - Ending
Program Revenues
The accompanying notes are an integral part of these basic financial statements. 22

Governmental Business-Type
Activities Activities Totals
$ - (3,772,267) $ (3,772,267) $
- (21,365,617) (21,365,617)
- 766,738 766,738
- (843,943) (843,943)
- (2,045,363) (2,045,363)
- (357,259) (357,259)
- (27,617,711) (27,617,711)
4,772,601 - 4,772,601
(257,315) - (257,315)
- - -
4,515,286 - 4,515,286
(27,617,711) 4,515,286 (23,102,425)
4,727,348 - 4,727,348
8,068,027 - 8,068,027
1,448,988 - 1,448,988
3,179,006 - 3,179,006
5,123,995 - 5,123,995
1,348,256 1,978,053 3,326,309
27,502 217,134 244,636
2,005,555 24,112,754 26,118,309
304,000 (304,000) -
2,309,555 23,808,754 26,118,309
6,824,841 (3,808,957) 3,015,884
160,946,224 93,323,122 254,269,346
$ 167,771,065 89,514,165 $ 257,285,230 $
Net (Expense) Revenue and
Changes in Net Position
23

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24

Fund
Governmental Funds:

General
Measure H Special Revenue
Community Center Special Revenue
Home Program Grants Special Revenue
Measure L Local Roads First Transportation Funding Measure which establishes and implements a one-half cent transaction and use tax. Funding is to be used for local street and road improvements, arterial street widening, signalization, pedestrian, bicyclist, and drive safety improvements. The tax will expire on March 31, 2042.

Accounts for activities related to housing and the related Home Program funding.

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

MAJOR FUNDS
Voter approved ½-cent retail transaction and use tax (sales tax) for the improvement of police, fire and 9-1-1 emergency response; to fund additional personnel and equipment costs.

To account for operational revenues and expenses of Ceres Community Center.
25

City of Ceres, California
Balance Sheet
Governmental Funds
June 30, 2025
Community Home
General Measure H Center Program Grants
Fund Special Revenue Special Revenue Special Revenue
ASSETS
Cash and investments $ 375 4,028,660 $ - $ 1,167,387 $
Receivables:

Taxes - 745,919 - -
Intergovernmental - - - -
Loans receivable - - - 5,389,427
Other receivable 4,318,954 - - -
Due from other funds 5,384,807 - - -
Advances to Former Redevelopment Agencies Private
Purpose Trust - 531,494
Prepaid items 14,151 - - -
Inventory 4,068 - - -
Total assets $ 746,294 14,282,134 $ - $ 6,556,814 $

LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities 1,068,823 $ 15,665 $ . - $ Deposits payable 2,564,212 - 63,223
Due to other funds - 2,190,171 669,196 -
Unearned revenue 503,569 - - -
Advances from other funds 1,647,815 - - -
Total liabilities 684,861 5,784,419 2,253,394 -
Deferred inflows: Unavailable revenue - - - 5,431,531
Total liabilities and deferred inflows 684,861 5,784,419 2,253,394 5,431,531 Fund balances:

Nonspendable:

Prepaid items 14,151 - - -
Restricted reported in:

Special revenue funds - 61,433 - 1,125,283
Committed - - - -
Assigned reported in:

Special revenue funds - - - -
Unassigned (deficit), reported in:

General fund - 8,483,564 - -
Special revenue funds - - (2,253,394) -
Total liabilities and fund balances $ 746,294 14,282,134 $ - $ 6,556,814 $ Major Funds
The accompanying notes are an integral part of these basic financial statements. 26

Nonmajor
Measure L Governmental
Special Revenue Funds Totals
$ 15,432,682 10,152,347 $ 30,781,451 $
671,323 1,417,242 -
336,141 336,141
6,175,709 786,282
4,351,792 32,838
5,384,807 -
531,494 -
14,151 -
4,068
$ 16,587,943 10,823,670 $ 48,996,855 $
$ 621,725 111,829 $ 1,818,042 $
2,627,435 -
5,384,571 2,525,204
503,569 -
1,647,815 -
3,146,929 111,829 11,981,432
6,217,813 786,282
3,933,211 111,829 18,199,245
- - 14,151
5,062,858 10,711,841 16,961,415
37,454 - 37,454
9,976,178 - 9,976,178
- - 8,483,564
(2,421,758) - (4,675,152)
$ 16,587,943 10,823,670 $ 48,996,855 $
Major Funds
27

City of Ceres, California
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
June 30, 2025
Total fund balances - total governmental funds $ 30,797,610 Capital assets used in governmental activities are not current financial resources and, therefore, are not reported in the governmental funds balance sheet. 73,120,429
Compensated absences (950,789)
Net pension obligation (37,292,898) (38,243,687)
6,217,813
Pension obligatons result in deferred outflows and inflows of resources associated with actuarial value of contributions, assets, and liabilities Deferred outflows 12,947,820
Deferred inflows (4,077,890) 8,869,930
Current assets 5,631,803
Noncurrent assets 5,163,707
Accounts payable and accrued liabilities (252,108)
Long-term liabilities (1,791,332) 8,752,070
Net position of governmental activities $ 89,514,165
The accompanying notes are an integral part of these basic financial statements.

Amounts reported for governmental activities in the Statement of Net Position are different because:

Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the governmental funds balance sheet.

Governmental funds notes receivable from various loan programs are deferred under the current financial resources measurement focus. The notes receivable are recognized in the government-wide Statement of Net Position under the accrual basis of accounting.

Internal services funds are used by management to charge the costs of certain activities, such as insurance, to individual funds. The assets and liabilities of the internal service funds are:
28

City of Ceres, California
Reconciliation of Fund Basis Balance Sheet to Government-wide Statement of Net Position Governmental Activities
June 30, 2025
Governmental Internal
Funds Service Changes Statement of
Balance Sheet Reclassifications Funds in GAAP Net Position ASSETS
Current assets:

Cash and investments 30,781,451 $ - $ 5,609,949 $ - $ 36,391,400 $ Receivables:

Taxes 1,417,242 - - - 1,417,242
Intergovernmental 336,141 - - - 336,141
Loans receivable 6,175,709 (6,175,709) - - -
Other receivable 4,351,792 - 21,854 - 4,373,646
Due from other funds 5,384,807 (5,384,807) - - -
Advances to Former Redevelopment Agencies Private
Purpose Trust (531,494) 531,494
Prepaid items 14,151 - - - 14,151
Inventory 4,068 - - - 4,068
Internal balances - (1,647,815) - - (1,647,815)
Total current assets (13,739,825) 48,996,855 5,631,803 - 40,888,833 Noncurrent assets:

Advances to(from) fiduciary activities - 531,494 - - 531,494 Loans/Notes receivable - 6,175,709 - - 6,175,709
Capital assets, net - - 5,163,707 73,120,429 78,284,136 Total noncurrent assets 6,707,203 - 5,163,707 73,120,429 84,991,339

DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows: Pension Plan - - - 12,947,820 12,947,820 Total assets and deferred outflows of resources $ (7,032,622) 48,996,855 $ 10,795,510 $ 86,068,249 $ 138,827,992 $

LIABILITIES
Current liabilities:

Accounts payable and accrued liabilities 1,818,042 $ - $ 206,871 $ - $ 2,024,913 $ Deposits payable 2,627,435 - - - 2,627,435
Due to other funds 5,384,571 (5,384,807) 236 - -
Advances from other funds 1,647,815 (1,647,815) - - -
Compensated absences - current portion - - 45,001 380,315 425,316 Unavailable revenue 503,569 - - - 503,569
Total current liabilities (7,032,622) 11,981,432 252,108 380,315 5,581,233 Noncurrent liabilities:

Long-term debt:

Compensated absences - - 67,501 570,474 637,975
Liability for claims - - 1,723,831 - 1,723,831
Net pension obligation - - - 37,292,898 37,292,898
Total noncurrent liabilities - - 1,791,332 37,863,372 39,654,704 Total liabilities (7,032,622) 11,981,432 2,043,440 38,243,687 45,235,937 Deferred inflows: Grants 6,217,813 - - (6,217,813) -
Deferred inflows: Pension plan - - - 4,077,890 4,077,890 Total liabilities and deferred inflows (7,032,622) 18,199,245 2,043,440 36,103,764 49,313,827

FUND BALANCES/NET POSITION
Fund balances:

Nonspendable 14,151 (14,151) - - -
Restricted 16,961,415 (16,961,415) - - -
Committed 37,454 (37,454) - - -
Assigned 9,976,178 (9,976,178) - - -
Unassigned 3,808,412 (3,808,412) - - -
Net position:

Net investment in capital assets - - 5,163,707 73,120,429 78,284,136 Restricted - - - 16,961,415 16,961,415
Debt service - - - - -
Unrestricted - 30,797,610 3,588,363 (40,117,359) (5,731,386) Total fund balances/ net position - 30,797,610 8,752,070 49,964,485 89,514,165 Total liabilities, deferred inflows, and net position $ (7,032,622) 48,996,855 $ 10,795,510 $ 86,068,249 $ 138,827,992 $ The accompanying notes are an integral part of these basic financial statements. 29

City of Ceres, California
Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
For the year ended June 30, 2025
Community Home
General Measure H Center Program Grants
Fund Special Revenue Special Revenue Special Revenue
REVENUES:

Property and other taxes $ 4,703,385 22,484,929 $ - $ - $ Licenses and permits - 474,662 - -
Fines, forfeitures and penalties - 218,792 - -
Charges for services - 1,667,809 - -
Intergovernmental - 2,365,883 - 7,865
Use of money and property 7,160 436,075 252,725 -
Other revenues - 51,685 26,317 -
Total revenues 4,710,545 27,699,835 279,042 7,865
EXPENDITURES:

Current:

General government - 2,670,404 - -
Public safety 4,890,479 20,619,891 - -
Engineering and Transportation - 112,340 - -
Public works - 499,959 - -
Community services - 2,073,265 263,528 -
Economic development - 251,626 -
Capital outlay - 1,002,640 -
Total expenditures 4,890,479 27,230,125 263,528 -

REVENUES OVER (UNDER)
EXPENDITURES (179,934) 469,710 15,514 7,865
OTHER FINANCING SOURCES (USES):

Transfers in 802,323 - - -
Transfers out (308,300) - - -
Total other financing sources (uses) - 494,023 - -
Net change in fund balances (179,934) 963,733 15,514 7,865 FUND BALANCES:

Beginning of year 241,367 7,533,982 (2,268,908) 1,117,418 End of year $ 61,433 8,497,715 $ (2,253,394) $ 1,125,283 $ Major Funds
30

Other
Measure L Governmental
Special Revenue Funds Totals
$ 1,369,585 - $ 28,557,899 $
- - 474,662
61,363 - 280,155
130,087 - 1,797,896
4,244,079 3,751,102 10,368,929
387,383 264,913 1,348,256
9,951 - 87,953
6,202,448 4,016,015 42,915,750
753,492 - 3,423,896
1,927,359 - 27,437,729
56,755 34,397 203,492
2,241,453 969,066 3,710,478
1,063,691 - 3,400,484
27,784 - 279,410
1,507,463 - 2,510,103
7,577,997 1,003,463 40,965,592
(1,375,549) 3,012,552 1,950,158
- - 802,323
(798,023) - (1,106,323)
(798,023) - (304,000)
(2,173,572) 3,012,552 1,646,158
14,828,304 7,699,289 29,151,452
$ 12,654,732 10,711,841 $ 30,797,610 $
Major Funds
31

City of Ceres, California
Reconciliation of Fund Basis Statements to Government-wide Statement of Activities For the year ended June 30, 2025
Capital
Debt/ Asset Internal GovernmentFund Based Compensated Deferred (Additions)/ Pension Service wide Functions/Programs Totals Absences Revenue Depreciation Retirements Plan Funds Totals Governmental activities:

General government 3,423,896 $ (382,390) $ 518 $ 1,896,942 $ - $ 83,432 5,022,398 $ Public safety 27,437,729 - - 444,274 - 678,784 - 28,560,787 Engineering and Transportation 203,492 - - - - 1,937 - 205,429 Public works 3,710,478 - - 4,118,576 179,549 25,125 776,100 8,809,828 Community services 3,400,484 - - 32,985 - 31,537 - 3,465,006 Economic development 279,410 - - 71,466 - 6,383 - 357,259 Capital outlay 2,510,103 - - - (2,510,103) - - -
Total governmental activities $ (382,390) 40,965,592 $ 518 $ 6,564,243 $ (2,330,554) $ 827,198 $ 776,100 $ 46,420,707 $ The accompanying notes are an integral part of these basic financial statements. 32

City of Ceres, California
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the year ended June 30, 2025
Net change in fund balances - total governmental funds $ 1,646,158 Capital asset purchases capitalized $ 2,330,554
Depreciation expense (6,564,243) (4,233,689)
Change in compensated absences 382,390
Pension expense (444,808) (827,198)
Deferred inflows (518)
(776,100)
Change in net position of governmental activities $ (3,808,957) Some expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds:

The accompanying notes are an integral part of these basic financial statements.

Amounts reported for governmental activities in the Statement of Activities are different because:

Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense to allocate those expenditures over the life of the assets:

Deferred Inflows related to the notes receivables in the governmental fund are reversed to reduce the expenditures of loan payments in the Government-Wide Financial Statements.

Internal services funds are used by management to charge the costs of certain activities, such as risk management, to individual funds. The change in net position of the Internal Service Funds is included in the governmental activities in the government-wide Statement of Net Position less amounts due to changes in capital assets reported above for capital assets.
33

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34

Fund
Major Funds:

Water
Sewer

STANCOG

PROPRIETARY FUNDS
Accounts for the operation of the City's water utility. It is a selfsupporting activity that provides services on a user-charge basis to residents and businesses located in the City.

Accounts for the operation of the City's sewer utility. It is a selfsupporting activity that provides services on a user-charge basis to residents and businesses located in the City.

Accounts for local transportation funds restricted to transit, street, pedestrian, and bike purposes funded through passenger fares.

Description
35

City of Ceres, California
Statement of Net Position
Proprietary Funds
June 30, 2025
Governmental
Activities -
Internal
Service Funds
Water Sewer STANCOG Totals Totals
Current assets:

Cash and investments 47,416,470 $ 24,256,613 $ 572,391 $ 72,245,474 $ 5,609,949 $ Cash and investments with trustee/fiscal agent - 37 - 37 - Accounts receivable (net of uncollectible) 977,131 1,707,083 - 2,684,214 21,854 Prepaid items 4,101 - - 4,101 -
Total current assets 49,127,691 25,233,744 572,391 74,933,826 5,631,803 Non-current assets:

Intangible assets 65,686,073 - - 65,686,073 -
Property, plant and equipment 45,056,529 31,657,847 - 76,714,376 12,526,793 Less accumulated depreciation (17,949,730) (18,133,666) - (36,083,396) (7,363,086) Property, plant, and equipment, net 13,524,181 92,792,872 - 106,317,053 5,163,707 Other assets:

Advances to other funds - 1,647,815 - 1,647,815 -
Total non-current assets 92,792,872 15,171,996 - 107,964,868 5,163,707 Total assets 40,405,740 141,920,563 572,391 182,898,694 10,795,510 Deferred outflows: Pension Plan 1,018,322 914,806 15,792 1,948,920 - Total assets and deferred outflows $ 41,320,546 142,938,885 $ 588,183 $ 184,847,614 $ 10,795,510 $

LIABILITIES AND NET POSITION
Current liabilities:

Accounts payable and accrued liabilities 1,673,610 $ 511,164 $ - $ 2,184,774 $ 206,871 $ Deposits payable 273,635 - - 273,635 -
Unearned revenue 89,731 - - 89,731 -
Interest payable 12,412 16,582 28,994 -
Due to other funds - - - - 236
Compensated absences - current 66,526 66,417 132,943 45,001 Current portion of long-term debt 171,000 297,000 - 468,000 - Total current liabilities 2,286,914 891,163 - 3,178,077 252,108 Long-term liabilities:

Compensated absences 99,789 99,625 - 199,414 67,501
Due after one year 2,555,000 4,429,000 - 6,984,000 -
Liability for claims - - - - 1,723,831
Net pension liability 2,865,442 2,861,817 55,781 5,783,040 - Total long-term liabilities 5,520,231 7,390,442 55,781 12,966,454 1,791,332 Total liabilities 8,281,605 7,807,145 55,781 16,144,531 2,043,440 Deferred inflows: Pension Plan 423,727 492,560 15,731 932,018 - Total liabilities and deferred inflows 8,774,165 8,230,872 71,512 17,076,549 2,043,440 Net Position:

Net investment in capital assets 17,953,181 95,347,872 - 113,301,053 5,163,707 Unrestricted 39,360,141 14,593,200 516,671 54,470,012 3,588,363 Total liabilities, deferred inflows, and net
position $ 41,320,546 142,938,885 $ 588,183 $ 184,847,614 $ 10,795,510 $ Business-type Activities - Enterprise Funds
The accompanying notes are an integral part of these basic financial statements. 36

City of Ceres, California
Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds
For the year ended June 30, 2025
Governmental
Activities -
Internal
Service Funds
Water Sewer STANCOG Totals Totals
OPERATING REVENUES:

Charges for services 16,994,763 $ 10,212,384 $ - $ 27,207,147 $ - $ Interdepartmental charges - - - 6,657,934
Other operating 425,245 208,573 - 633,818 187,539
Total operating revenues 10,420,957 17,420,008 - 27,840,965 6,845,473 OPERATING EXPENSES:

Salaries and benefits 3,441,263 3,201,539 - 6,642,802 2,098,476 Contractual and other services 7,412,916 521,225 - 7,934,141 777,544 Materials and supplies 6,576,683 1,137,578 - 7,714,261 791,757 Depreciation and amortization 1,353,289 944,068 - 2,297,357 921,195 Other operating costs 1,424,030 4,709,871 - 6,133,901 3,120,250 Total operating expenses 10,514,281 20,208,181 - 30,722,462 7,709,222 OPERATING INCOME (LOSS) (93,324) (2,788,173) - (2,881,497) (863,749) NONOPERATING REVENUES (EXPENSES):

Investment income 1,258,562 704,023 15,468 1,978,053 35,281 Gain (Loss) on sale of assets - - - - 120,547
Interest and debt service expenses (94,601) (163,991) - (258,592) - Capital contributions 7,628,888 26,487 - 7,655,375 -
Total non-operating revenues 566,519 8,820,351 15,468 9,402,338 155,828

NET INCOME (LOSS) BEFORE
TRANSFERS 473,195 6,032,178 15,468 6,520,841 (707,921)
Transfers in - 304,000 - 304,000 -
Transfers out - - - - -
Total Transfers - 304,000 - 304,000 -
CHANGE IN NET POSITION 777,195 6,032,178 15,468 6,824,841 (707,921) NET POSITION:

Beginning of year 128,675,835 31,769,186 501,203 160,946,224 9,459,991 End of year $ 32,546,381 134,708,013 $ 516,671 $ 167,771,065 $ 8,752,070 $ Business-type Activities - Enterprise Funds
The accompanying notes are an integral part of these basic financial statements. 37

City of Ceres, California .

Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2025
Governmental
Activities -
Internal
Service Funds
Water Sewer STANCOG Totals Totals
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from interfund services provided - $ - $ - $ - $ 6,926,817 $ Cash receipts from customers 16,780,016 10,371,680 - 27,151,696 - Cash payments to suppliers for goods and services (19,863,262) (6,643,144) - (26,506,406) (1,641,828) Cash payments to employees for services (3,434,169) (3,170,300) - (6,604,469) (2,136,659) Cash receipts (payments) for loss claims - - - - (2,957,473) Net cash used by operating activities 558,236 (6,517,415) - (5,959,179) 190,857

CASH FLOWS FROM NONCAPITAL FINANCING
ACTIVITIES:

Other income received 27,502 - - 27,502 -
Transfers received (paid) - 304,000 - 304,000 -
Net cash provided by noncapital financing
activities 304,000 27,502 - 331,502 -

CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:
(Acquisition) Disposal and construction of capital assets 5,474,339 (1,305,807) 4,168,532 (989,374) Proceeds from sale of capital assets - - - - 120,547
Capital contributions 7,628,888 26,487 - 7,655,375 -
Payments on long-term debt (167,000) (289,000) - (456,000) - Interest paid on capital debt (94,601) (163,991) - (258,592) - Net cash (used) by capital and related financing
activities (1,732,311) 12,841,626 - 11,109,315 (868,827) CASH FLOWS FROM INVESTING ACTIVITIES:

Investment income received 1,258,562 704,023 15,468 1,978,053 35,282 Net cash provided by investing activities 704,023 1,258,562 15,468 1,978,053 35,282 Net increase (decrease) in cash and cash
equivalents (166,052) 7,610,275 15,468 7,459,691 (642,688) CASH AND CASH EQUIVALENTS:

Beginning of year 39,739,706 24,356,248 556,923 64,652,877 6,207,636 End of year 47,349,981 $ 24,190,196 $ 572,391 $ 72,112,568 $ 5,564,948 $ Presentation in Statement of Net Position:

Cash and investments 47,416,470 $ 24,256,613 $ 572,391 $ 72,245,474 $ 5,609,949 $ Cash and investments with trustee/fiscal agent 37 - - 37 - Total cash and investments 47,416,507 $ 24,256,613 $ 572,391 $ 72,245,511 $ 5,609,949 $ Reconciliation of income (loss) from operations to
net cash used by operating activities:

Operating income (loss) (2,788,173) $ (93,324) $ - $ (2,881,497) $ (863,749) $ Adjustments to reconcile operating income (loss)
to net cash used in operating activities:

Depreciation and amortization 1,353,289 944,068 - 2,297,357 921,195 Pension expense 71,439 77,551 - 148,990
Accounts receivable (607,474) (49,277) - (656,751) 115,516 Prepaid items (4,101) (4,101) -
Increase (decrease) in liabilities:

Accounts payable and accrued liabilities (4,445,532) (274,470) - (4,720,002) 3,148 Deposits payable 16,225 - - 16,225 -
Unearned revenue (48,743) - - (48,743) -
Compensated absences (64,345) (46,312) - (110,657) (38,183) Increase (decrease) in claims liability - - - - 52,930
Net cash used by operating activities $ 558,236 (6,517,415) $ - $ (5,959,179) $ 190,857 $ Business-type Activities - Enterprise Funds
There were no noncash investing, capital, or financing activities affecting recognized assets and liabilities for the year ended June 30, 2025.

The accompanying notes are an integral part of these basic financial statements. 38

City of Ceres, California
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2025
Successor
Agencies Westpointe
Private Assessment
Purpose District
Trust Debt Service
Funds Custodial Fund
ASSETS
Current assets:

Cash and investments $ 306,378 5,575,383 $
Cash and investments with trustee/fiscal agent - 2,061,500 Total current assets 7,962,554 306,378
Non-Current assets:

Long-term loans receivable 1,614,371 -
Construction in progress 12,500,147 -
Total non-current assets 14,114,518 -
Other assets:

Deferred outflows: Pension plan - 160,938
Total assets and deferred outflows $ 306,378 22,238,010 $

LIABILITIES AND NET POSITION
Current liabilities:

Interest payable $ - 8,591 $
Current portion of long term debt 1,904,687 -
Total current liabilities 1,993,101 -
Long-term liabilities:

Advances from other government agencies - 266,702
Advances from Governmental Activities 531,494 -
Due after one year - 22,015,517
Net pension obligation 330,062 -
Total long-term liabilities 23,143,775 -
Total liabilities - 25,136,876
Deferred inflows: Pension plan - 58,092
Total liabilities and deferred inflows - 25,194,968
Net Position (Deficit):

Restricted for:

Redevelopment Dissolution $ - (2,956,958)
Individuals, organizations, and other governments 306,378 - $ The accompanying notes are an integral part of these basic financial statements. 39

City of Ceres, California
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the year ended June 30, 2025
Successor
Agencies Westpointe
Private Assessment
Purpose District
Trust Debt Service
Funds Custodial Fund
ADDITIONS:

Property taxes 2,492,310 $ - $
Investment earnings 8,279 38,685
Other revenue 19,076 -
Total additions 8,279 2,550,071
DEDUCTIONS:

General and administrative 3,206 -
Contractual and other services 19,245 -
Interest and debt service expenses 616,859 -
Total deductions - 639,310
CHANGE IN FIDUCIARY NET ASSETS 8,279 1,910,761
NET POSITION (DEFICIT):

Beginning of year 298,099 (4,867,719)
End of year $ 306,378 (2,956,958) $
The accompanying notes are an integral part of these basic financial statements. 40

41 NOTES TO BASIC FINANCIAL STATEMENTS

City of Ceres, California
Basic Financial Statements
For the year ended June 30, 2025
Index to Notes to Basic Financial Statements
42 Page
Note 1 – Summary of Significant Accounting Policies ................................................................... 43 Financial Reporting Entity ............................................................................................................. 43 Basis of Accounting and Measurement Focus ............................................................................... 44 Assets, Liabilities, and Equity ....................................................................................................... 48 Revenues, Expenditures, and Expenses ......................................................................................... 54 Budgetary Accounting ................................................................................................................... 55 Note 2 – Cash and Investments ......................................................................................................... 57 Note 3 – Accounts Receivable ........................................................................................................... 60 Note 4 – Loans and Notes Receivable .............................................................................................. 60 Note 5 – Capital Assets ...................................................................................................................... 62 Note 6 – Accounts Payable and Accrued Liabilities ....................................................................... 64 Note 7 – Special Assessment Districts .............................................................................................. 64 Note 8 – Long-term Liabilities .......................................................................................................... 65 Note 9 – Net Position/ Fund Balances .............................................................................................. 67 Note 10 – Interfund Transactions .................................................................................................... 70 Note 11 – Risk Management ............................................................................................................. 73 Note 12 – Pension Plan ...................................................................................................................... 77 Note 13 – Abandoned Vehicle Abatement Program ....................................................................... 80 Note 14 – Successor Agency Trust for Assets of Former Redevelopment Agency ...................... 81 Note 15 – Commitments and Contingencies .................................................................................... 87 Note 16 – New Accounting Pronouncements ................................................................................... 88

City of Ceres, California
Notes to Basic Financial Statements
For the year ended June 30, 2025
43 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of Ceres, California (City) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental agencies. The Governmental Accounting Standards Boards (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the City’s accounting policies are described below.

A. Financial Reporting Entity
The City of Ceres (City) was incorporated on February 25, 1918, under the laws and regulations of the State of California (State). The City operates under a City Council/Manager form of government and provides the following services: public safety (Police and Fire), highways and streets, water service, sewer service, solid waste, storm water utility, public improvements, planning and zoning, and general administration.

The financial statements of the City have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the standard-setting body for governmental accounting and financial reporting. On June 15, 1987, GASB issued a codification of the existing Governmental Accounting and Financial Reporting Standards which, along with subsequent GASB pronouncements (Statements and Interpretations), constitutes GAAP for governmental units. The City applies all GASB pronouncements to its activities.

In addition, the City applies all Financial Accounting Standards Board (FASB) Statements and Interpretations, Accounting Principles Board (APB) Opinions, and Accounting Research Bulletins (ARB) issued after November 30, 1989, unless they conflict with or contradict GASB pronouncements.

The more significant of these accounting policies are described below and, where appropriate, subsequent pronouncements will be referenced.

The City was incorporated under the General Laws of the State of California and enjoys all the rights and privileges pertaining to such “General Law” cities. The City uses the City Council/Manager form of government. The financial reporting entity consists of: (a) the primary government, the City; (b) organizations for which the primary government is financially accountable; and (c) other organizations for which the primary government is not accountable, but for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity’s financial statements to be misleading or incomplete.

Component units are legally separate organizations for which the elected officials of the primary government are financially accountable. In addition, component units can be other organizations for which the primary government’s exclusion would cause the reporting entity’s financial statements to be misleading or incomplete.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
44 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued A. Financial Reporting Entity, Continued
The City is the primary government unit. Component units are those entities which are financially accountable to the primary government, either because the City appoints a voting majority of the component unit’s board, or because the component unit will provide a financial benefit or impose a financial burden on the City. The City currently has no blended or discretely reported component units.

B. Basis of Accounting and Measurement Focus
The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures or expenses as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purpose for which they are to be spent and the means by which spending activities are controlled.

Government–Wide Financial Statements
The government–wide financial statements include a Statement of Net Position and a Statement of Activities and Changes in Net Position. These statements present summaries of governmental and business-type activities for the City, the primary government, accompanied by a total column. Fiduciary activities of the City are not included in these statements.

These government-wide financial statements are presented on an “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all of the City’s assets and liabilities, including capital assets and related infrastructure assets and long-term liabilities, are included in the accompanying Statement of Net Position. The Statement of Activities presents changes in net position.

Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.

Certain types of transactions are reported as program revenues for the City in three categories:
• Charges for services
• Operating grants and contributions
• Capital grants and contributions
Certain eliminations have been made as prescribed by GASB Statement No. 34 in regard to interfund activities, payables, and receivables. All internal balances in the Statement of Net Position have been eliminated except those representing balances between the governmental activities and the business-type activities, which are presented as internal balances and eliminated in the total primary government column. Transactions between governmental and business-type activities have not been eliminated. The following interfund activities have been eliminated:

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
45 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued Government–Wide Financial Statements, Continued
• Due to/from other funds
• Advances to/from other funds
• Transfers in/out
The City applies all applicable GASB pronouncements (including all National Council on Governmental Accounting (NCGA) Statements and Interpretations currently in effect) as well as the following pronouncements issued on or before November 30, 1989, to the business-type activities, unless those pronouncements conflict with or contradict GASB pronouncements: Financial Accounting Standards Board (FASB) Statements and Interpretations, Accounting Principles Board (APB) Opinions, and Accounting Research Bulletins (ARB) of the committee on Accounting Procedure. The City applies all applicable FASB Statements and Interpretations issued after November 30, 1989, to proprietary funds, except those that conflict with or contradict GASB pronouncements.

Governmental Fund Financial Statements
Governmental fund financial statements include a Balance Sheet and a Statement of Revenues, Expenditures, and Changes in Fund Balances for all major governmental funds and non-major funds aggregated. An accompanying schedule is presented to reconcile and explain the differences in net position as presented in these statements to the net position presented in the government-wide financial statements. The City has presented all major funds that met the applicable criteria. The following were the City’s major governmental funds:
• The General Fund - Accounts for all general revenues of the city not specifically levied or collected for other City funds and the related expenditures. The General Fund accounts for all financial resources of a governmental unit which are not accounted for in other funds.
• Measure H Special Revenue Fund – This fund is used to account for a voter approved ½- cent retail transaction and use tax (sales tax) for the improvement of police, fire and 9-1-1 emergency response; to fund additional personnel and equipment costs. • Community Center Special Revenue Fund – This fund is used to account for operational revenues and expenses of Ceres Community Center.
• HOME Program Grants Special Revenue Fund - This fund is used to account for Federal funds used for housing assistance payments to low-income, elderly, disabled, and handicapped people qualifying for the programs, as well as rehabilitation for rental property.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
46 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued All governmental funds are accounted for on a spending or “current financial resources” measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the Balance Sheet. The Statement of Revenues, Expenditures, and Changes in Fund Balances present increases (revenue and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period.

Revenues are recorded when received in cash, except those revenues subject to accrual (generally 60 days after year-end) are recognized when due. The primary revenue sources, which have been treated as susceptible to accrual by the City, are property tax, sales tax, intergovernmental revenues, and other taxes. Expenditures are recorded in the accounting period in which the related fund liability is incurred.

Deferred inflows arise when potential revenues do not meet both the “measurable” and “available” criteria for recognition in the current period. Deferred inflows also arise when the government receives resources before it has a legal claim to them, as when grant monies are received prior to incurring qualifying expenditures. In subsequent periods when both revenue recognition criteria are met or when the government has a legal claim to the resources, the deferred inflows is removed from the balance sheet and revenue is recognized.

Reconciliation of the Fund Financial Statements to the Government-Wide Financial Statements is provided to explain the differences between the two methods of measurement focus.

Proprietary Fund Financial Statements
Proprietary fund financial statements include a Statement of Net Position, a Statement of Revenues, Expenses, and Change in Net Position, and a Statement of Cash Flows for all proprietary funds. The City has determined that all its enterprise funds are major funds. The following were the City’s major enterprise funds:

The Water Fund consists of:
• Water Service Fund - This fund was established as a separate fund to account for the operation of the City's water utility. It is a self-supporting activity that provides services on a user-charge basis to residents and businesses located in the City. • Water Quality Sinking Fund - Revenue from this fund comes from a $3.00 per account transfer from the Water Service added to the water bill. Expenditures are for water system improvements.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
47 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued • Water Supply Fund - Revenue from this fund comes from water connection fees.

Expenditures are for major system improvements, including debt service payments if the improvements are financed.
• 2009 Water Bond Fund – This fund is used to account for projects financed with 2009 Water Revenue Bonds. The bond funds are being used to finance the acquisition and construction of certain improvements to the Water Enterprise system.

The Sewer Fund consists of:
• Sewer Main Line Construction Fund - Revenue from this fund comes from sewer connection fees. Expenditures are for plant improvements and pump station construction. • Sewer Service Fund - This fund was established as a separate fund to account for the operation of the City's sewer utility. It is a self-supporting activity that provides services on a user-charge basis to residents and businesses located in the City. • 2009 Sewer Bond Fund – This fund is used to account for projects financed with 2009 Sewer Revenue Bonds. The bond funds are being used to finance the acquisition and construction of certain improvements to the Sewer Enterprise system.

Stancog Dial-A-Ride Fund - This fund is a local transportation fund restricted to transit, street, pedestrian, and bike purposes.

A separate column representing internal service funds is also presented in these statements. However, internal service balances and activities have been combined with the governmental activities in the government-wide financial statements.

Proprietary funds are accounted for using the “economic resources” measurement focus and the accrual basis of accounting. Accordingly, all assets and liabilities (whether current or noncurrent) are included on the Statement of Net Position. The Statement of Revenues, Expenses, and Changes in Net Position present increases (revenues) and decreases (expenses) in total net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which a liability is incurred.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
48 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Proprietary Fund Financial Statements, Continued
Operating revenues in the proprietary funds are those revenues that are generated from the primary operations of the fund. All other revenues are reported as nonoperating revenues. Operating expenses are those expenses that are essential to the primary operations of the fund. All other expenses are reported as nonoperating expenses.

Fiduciary Fund Financial Statements
Fiduciary fund financial statements include a Statement of Fiduciary Net Position and Statement of Changes in Fiduciary Net Position. The City’s fiduciary funds include both agency funds and private purpose trust funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Private Purpose Trust Funds account for resources held for other individuals or entities in a manner similar to private enterprise. These funds are accounted for using the accrual basis of accounting.

C. Cash, Cash Equivalents, and Investments
The City pools its available cash for investment purposes. The City’s cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturity of three months or less from the date of acquisition. Cash and cash equivalents are combined with investments and displayed as Cash and Investments. For purposes of the statement of cash flows of the proprietary fund types, cash and cash equivalents include all investments, as the City operates an internal cash management pool which maintains the general characteristics of a demand deposit account.

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

Highly liquid market investments with maturities of one year or less at time of purchase are stated at amortized cost. All other investments are stated at fair value. Market value is used as fair value for those securities for which market quotations are readily available.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
49 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued C. Cash, Cash Equivalents and Investments, Continued
The City participates in the Local Agency Investment Fund (LAIF), an investment pool managed by the State of California. LAIF has invested a portion of the pool funds in Structured Notes and Asset-Backed Securities. LAIF’s investments are subject to credit risk with the full faith and credit of the State of California collateralizing these investments. In addition, these Structured Notes and Asset-Backed Securities are subject to market risk as a result of changes in interest rates.

D. Restricted Cash and Investments
Certain restricted cash and investments are held by fiscal agents for the redemption of bonded debt and for acquisition and construction of capital projects. Cash and investments are also restricted for deposits held for others within the enterprise funds.

E. Inventories
The City accounts for inventories using the first-in, first-out method. Inventories consist primarily of supplies and are carried at cost. Governmental fund type inventories are recorded as expenditures when consumed rather than when purchased.

F. Capital Assets
Government-Wide Financial Statements
Capital assets are valued at historical cost or estimated historical cost if actual historical cost was not available. Donated fixed assets are valued at their estimated fair market value on the date donated. City policy has set the capitalization threshold for reporting infrastructure at $100,000; all other capital assets are set at $5,000. Depreciation is recorded on a straight-line basis over estimated useful lives of the assets as follows:

Buildings 50-60 years
Improvements other than buildings 30-50 years
Machinery and equipment 5-20 years
Infrastructure 15-50 years

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
50 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued F. Capital Assets, Continued
Government-Wide Financial Statements, Continued
The City defines infrastructure as the basic physical assets that allow the City to function. The assets include streets, sewer, park lands, and buildings. Each major infrastructure system can be divided into subsystems. For example, the street system can be subdivided into pavement, curb and gutters, sidewalks, medians, streetlights, landscaping, and land. These subsystems were not delineated in the basic financial statements. The appropriate operating department maintains information regarding the subsystems.

Interest accrued during capital assets construction, if any, is capitalized for the business-type and proprietary funds as part of the asset cost.

For all infrastructure systems, the City elected to use the Basic Approach defined by GASB Statement No. 34, which requires all infrastructures be reported at historical cost and be depreciated over their estimated useful lives.

G. Long-Term Liabilities
Government-Wide Financial Statements
Long-term debt and other financial obligations are reported as liabilities in the appropriate activities.

Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the bonds using the straight-line method. Bonds payable are reported net of the applicable premium or discount. Issuance costs are reported as deferred outflows.

Fund Financial Statements
The Governmental Fund Financial Statements do not present long-term debt. Consequently, long-term debt is shown as a reconciling item in the Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position.

Governmental funds recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financial sources. Premiums received on debt issuance are reported as other financing sources while discounts on debt issuance reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Proprietary Fund Financial Statements use the same principles as those used in the Government-Wide Financial Statements.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
51 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued H. Compensated Absences
Government-Wide Financial Statements
For governmental and business-type activities, liabilities for compensated absences are recognized as leave is earned, to the extent the leave is attributable to services already rendered and is more likely than not to be either used or paid upon separation. The related expenses and liabilities are reported in the respective activity to which they apply.

Fund Financial Statements
In governmental funds, compensated absences are recorded as expenditures in the years paid, as it is the City’s policy to liquidate any unpaid compensated absences at June 30 from future resources, rather than currently available financial resources. In proprietary funds, compensated absences are expensed to the various funds in the period they are earned, and such fund’s share of the unpaid liability is recorded as a long-term liability of the fund.

The City accrues vacation time payable to employees based on agreements between the City and the various City employee bargaining units. Vacation time generally accrues as follows:

Years of Service Annual Vacation Earned
1 - 4 2 weeks
5 - 10 3 weeks
11 - 19 4 weeks
20 + One day per year for each year over
20 to a maximum of 25 days per year
Employees may accumulate a maximum of 480 hours. Vacation is accrued per pay period. Although new employees immediately begin earning vacation time, they are not eligible to use it until 30 days of service has passed. The accrued liability of governmental fund types for compensated absences is not expected to be paid from current available funds and, therefore, has been recorded in the governmental activities of the Government-Wide Financial Statements. The liability in proprietary fund types is carried as an obligation in the Fund Financial Statements and in the business-type activities of the GovernmentWide Financial Statements. The City does not pay any post-employment benefits.

I. Deferred outflows/inflows of resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/ expenditure) until then. The City has only has one item that qualifies for reporting in this category.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
52 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued I. Deferred outflows/inflows of resources, Continued
In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The City has one item reported as a deferred inflow of resources.

J. Net Position and Fund Equity
Government-Wide Financial Statements
In the Government-Wide Financial Statements, net position are classified in the following categories:

Net Investment in Capital Assets – This amount consists of capital assets net of accumulated depreciation and reduced by outstanding debt that attributed to the acquisition, construction, or improvement of the assets.

Restricted Net Position – This amount is restricted by external creditors, grantors, contributors, or laws or regulations of other governments.

Net Position – This amount is all net position that does not meet the definition of “net investment in capital assets” or “restricted.”
Fund Financial Statements
Governmental fund equity is classified as fund balance. Fund balance is classified as nonspendable, restricted, committed, assigned or unassigned. Proprietary fund equity is classified the same as in the government-wide statements. The classifications for governmental funds are defined as follows for the City:

Nonspendable Fund Balance –
 Assets that will never convert to cash (prepaid items, inventory).  Assets that will not convert to cash soon enough to affect the current period (long-term notes or loans receivable).
 Resources that must be maintained intact pursuant to legal or contractual requirements (the principal of an endowment).

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
53 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued J. Net Position and Fund Equity, Continued
Government-Wide Financial Statements, Continued
Restricted Fund Balance –
 Resources that are subject to externally enforceable legal restrictions imposed by parties altogether outside the government (Creditors, Grantors, Contributors and Other Governments).
 Resources that are subject to limitations imposed by law through constitutional provisions or enabling legislation (Gas Tax).

Committed Fund Balance –
 Self-imposed limitations set in place prior to the end of the period. (Encumbrances, economic contingencies and uncertainties)
 Limitation at the highest level of decision-making (Council) that requires formal action at the same level to remove.
 Council resolution is required to be taken to establish, modify or rescind a fund balance commitment.

Assigned Fund Balance –
 Amounts in excess of nonspendable, restricted and committed fund balance in funds other than the general fund automatically are reported as assigned fund balance.  Assigned amounts for a specific purpose are as authorized by the City’s Finance Director through its fund balance policy.

Unassigned Fund Balance –
 Residual net resources
 Total fund balance in the general fund in excess of nonspendable, restricted, committed and assigned fund balance (surplus).
 Excess of nonspendable, restricted, and committed fund balance over total fund balance (deficit).

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
54 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued K. Property Taxes
Under California law, property taxes are assessed and collected by the counties up to 1% of assessed value, plus other increases approved by the voters. The property taxes go into a pool and are then allocated to the cities based on complex formulas. Accordingly, the City accrues only those taxes which are receivable from the county within ninety days after year end.

Lien Date January 1
Levy Date January 1
Due Date November 1 and February 1
Collection Date December 10 and April 10
Property taxes levied are recorded as revenue when received in the fiscal year of levy, because of the adoption of the “alternate method of property tax distribution,” known as the Teeter Plan, by the City and the County of Stanislaus. The Teeter Plan authorizes the Auditor/Controller of the County of Stanislaus to allocate 100% of the secured property taxes billed, but not yet paid.

L. Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. In addition, estimates affect the reported amount of expenses. Actual results could differ from these estimates and assumptions.

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

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

All other outstanding balances between funds are reported as due to and due from other funds. These are generally repaid within the following fiscal year.

Any residual balances outstanding between the governmental activities and business-type activities are reported in the Government-Wide Financial Statements as “internal balances.”

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
55 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued P. Use of Restricted and Unrestricted Net Position
When an expense is incurred for purposes for which both restricted and unrestricted net position is available, the City’s policy is to apply restricted net position first.

Q. Budgetary Accounting
The City followed these procedures in establishing the budgetary data reflected in the financial statements:

1. Public hearings are conducted to obtain public comments. The City Council annually adopts the budget for the ensuing fiscal year prior to July 1st.

2. The City Manager is authorized to transfer budgetary amounts within a Department; however, any revisions that alter the total expenditures of any Department must be approved by the City Council.

3. Legally adopted budgets and formal budgetary integration is employed as a management control device during the year for the General Fund and Special Revenue Funds. Formal budgetary integration is not employed for the debt service funds because effective budgetary control is alternatively achieved through bond indenture provisions. The capital projects, proprietary and trust and agency funds are not budgeted.

4. Budgets for the General and Special Revenue Funds are adopted on a basis consistent with generally accepted accounting principles (GAAP).

5. Budgeted revenue amounts represent the original budget modified by adjustments authorized during the year. Budgeted expenditure amounts represent original appropriations adjusted for supplemental appropriations during the year which were contingent upon new or additional revenue sources and reappropriated amounts for prior year encumbrances. The City Manager may amend the budgeted amounts within departmental expenditure classifications. Appropriation revisions made during the year ended June 30, 2025, were not significant.

Appropriations lapse at the end of the fiscal year and then are re-budgeted for the coming year.

Under Article XIIIB of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller, returned to the taxpayers through revised tax rates or revised fees schedules, or an excess in one year may be offset against a deficit in the following year. For the fiscal year ended June 30, 2025, based on the calculations by City Management, proceeds of taxes did not exceed the appropriations limit.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
56 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued Q. Budgetary Accounting, Continued
Budgeted appropriations for the various governmental funds become effective each July 1. The City Council may amend the budget during the fiscal year. The legal level of budgetary control has been established at the fund level. Appropriations generally lapse at the end of the fiscal year to the extent they have not been expended or encumbered.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
57 2. CASH AND INVESTMENTS
At June 30, 2025, the City’s pooled cash and investments, classified by maturity, consisted of the following stated at fair market value:

Fair
< 1 1 to 3 3 to 5 Deposits Market Value
Cash equivalents and investments pooled
Pooled cash, at fair value:

Cash in bank - $ - $ - $ 15,257,179 $ 15,257,179 $
Petty cash - - - 4,250 4,250
Total pooled items - - - 15,261,429 15,261,429
Pooled investments, at fair value
Interest obligations
Par Rate
$3,693,000 0.8 - 4.95% Domestic Time Deposits 984,000 1,970,000 739,000 - 3,693,000 $23,300,000 0.5 - 4.25% US Government Agency Securities 5,000,548 10,134,234 8,090,817 - 23,225,599 Municipal Investor Account 554,497 - - - 554,497
State of California Local Agency Investment Fund 73,845,647 - - - 73,845,647 Total pooled investments - interest obligations 80,384,692 12,104,234 8,829,817 - 101,318,743 Total cash equivalents and investments pooled 80,384,692 $ 12,104,234 $ 8,829,817 $ 15,261,429 $ 116,580,172 $ Amounts reported in:

Government activities 36,391,400 $
Business-type activities:

Unrestricted cash and investments 72,245,474
Cash and investments with trustee / fiscal agent 37
Fiduciary activities:

Unrestricted cash and investments 5,881,761
Cash and investments with trustee/fiscal agent 2,061,500 Total 116,580,172 $
Maturities (in years)
Investment Type Fair Value Maturity (in years)
Domestic Time Deposits 3,693,000 $ 1.428
US Governments Agency Securities 23,225,599 1.616
Municipal Investor Account 554,497 0.000
Local Agency Investment Fund 73,845,647 0.000
Total fair value 101,318,743 $
California statutes authorize cities to invest idle or surplus funds in a variety of credit instruments as provided for in the California Government Code, Section 53600, Chapter 4 – Financial Affairs. The table below identifies the investment types that are authorized for the City by the California Government Code (or the City’s investment policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. During the year ended June 30, 2025, the City’s permissible investments included the following instruments:

Medium-term Corporate Notes Commercial Paper Treasury Bills and Notes Certificates of Deposit Repurchase Agreements Passbook Savings Accounts Bankers' Acceptances Government Agency Securities Local Agency Investment Fund

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
58 2. CASH AND INVESTMENTS, Continued
Interest rate risk – In accordance with its investment policy, the City manages its exposures to declines in fair values by limiting the weighted average maturity of its investment portfolio to less than 5 years. As of June 30, 2025, the weighted average maturity was not applicable because all balances are current.

Credit risk – It is the City’s policy that commercial paper has a rating of “A1” or higher by a nationally recognized statistical rating organization (NRSRO) and with a maturity date not exceeding 180 days from the date of purchase. Medium-term notes, with a final maturity not exceeding five years from the date of purchase, must have a rating of A or the equivalent by a NRSRO. Federal instrumentalities must have a rating of AAA or the equivalent by a NRSRO at the time of purchase with a maximum maturity of five years at the time of purchase. The LAIF, administered by the State of California, has a separate investment policy, governed by Government Code Sections 16480-16481.2, that provides credit standards for its investments.

Concentration of credit risk – The City’s investment policy does not allow for an investment in any one issuer that is in excess of five percent of the government’s total investments. The investments made by the City Treasurer are limited to those allowable under State statutes as incorporated into the City’s Investment Policy, which is accepted annually by the City Council. There were no concentrations in any one issuer for the year.

The City participates in an investment pool managed by the State of California titled Local Agency Investment Fund (LAIF) which has invested 3.81% of the pool funds in Structured Notes and AssetBacked Securities. LAIF's investments are subject to credit risk with the full faith and credit of the State of California collateralizing these investments. In addition, these Structured Notes and Asset-Backed Securities are subject to market risk as to changes in interest rates.

Custodial credit risk – deposits. For deposits, this is the risk that in the event of a bank failure, the City’s deposits may not be returned. The City’s Investment Policy addresses custodial credit risk, which follows the Government Code.

At June 30, 2025, the carrying amount of the City’s deposits was $15,257,179 and the balance in financial institutions was $13,371,053. Of the balance in financial institutions, $500,000 was covered by federal depository insurance and $12,871,053 was collateralized as required by State law (Government Code Section 53630), by the pledging financial institution with assets held in a common pool for the City and other governmental agencies, but not in the name of the City. As of June 30, 2025, the City’s investments were held by the City’s custodial agent, but not in the City’s name, and were insured up to specified limits by the Securities Investor Protection Corporation (SIPC) and supplemental private insurance up to a limit of $150 million.

Custodial credit risk – investments. For investments, this is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside counterparty. For the investments maintained by the City, no security was uninsured or unregistered or held by a brokerage firm which is also the counterparty for the security.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
59 2. CASH AND INVESTMENTS, Continued
Fair Value of Investments
The City measures and records its investments using fair value measurement guidelines established by generally accepted accounting principles (GAAP). These guidelines recognize a three‐tiered fair value hierarchy as follows:
 Level 1: Quoted prices for identical investments in active markets;  Level 2: Observable inputs other than those in Level 1; and  Level 3: Unobservable inputs.

Debt and equity securities classified as Level 1 are valued using prices quoted in active markets for those securities. Debt and equity securities classified in Level 2 are valued using the following approaches:
debt securities are normally valued based on price data obtained from observed transactions and market price quotations from broker dealers and/or pricing vendors; equity securities are valued using fair value per share for each fund. Certificates of deposit classified in level 2 are valued using broker quotes that utilize observable market inputs. Securities classified as Level 3 have limited trade information, these securities are priced or using the last trade price or estimated using recent trade prices.

Investments by Fair Value Level June 30, 2025 Level 1 Level 2 Level 3 Domestic Time Deposits 3,693,000 $ - $ 1,974,000 $ - $
U.S. Government Agency Securities 23,225,599 - 16,988,488 - Total fair value - 26,918,599 - 18,962,488
Investments Exempt from Fair Value Hierarchy
Local Agency Investment Fund (LAIF) 73,845,647
Municipal Investor Account 554,497
$ 101,318,743
Investment in LAIF: The City is a voluntary participant in California Local Agency Investment Fund (LAIF), which is regulated by California Government Code Section under the oversight of the Local Investment Advisory Board (Board). The Board consists of five members as designated by state statute, and is chaired by the State Treasurer who is responsible for day-to-day administration of LAIF. The total amount invested by all public agencies as of June 30, 2025, was $24.49 billion of which the City had a balance of $73,845,647. LAIF is part of the California Pooled Money Investment Account (PMIA), which at June 30, 2025 has a portfolio with market valuation including accrued interest of $180 billion. The fair value of the City’s investment in this pool is reported in the accompanying financial statements at amounts based upon the City’s pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
60 3. ACCOUNTS RECEIVABLE
Accounts receivable consisted of the following at June 30, 2025:

Governmental Business-type
Activities Activities Total
Current:

Accounts - $ 2,684,214 $ 2,684,214 $
Taxes 1,417,242 - 1,417,242
Intergovernmental 336,141 - 336,141
Other receivable 4,373,646 - 4,373,646
Total current $ 2,684,214 6,127,029 $ 8,811,243 $
These amounts resulted in the following concentrations in receivables:

Other Governments 10.59%
Individuals/Businesses 62.98%
Other 26.42%
Amounts do not indicate a significant concentration (greater than 25%) with any single individual, business, or agency.

4. LOANS AND NOTES RECEIVABLE
Through the City’s various housing rehabilitation funds and first-time home buyer’s funds, the City has loaned funds to qualifying individuals and businesses. Interest rates vary depending on the terms of the loan. Interest is accrued on the loans that bear interest.

Loans and notes receivable for the year ended June 30, 2025, consisted of the following:

Beginning Ending
Description July 1, 2024 Additions (Deletions) June 30, 2025 First-Time Homebuyer Loans 2,010,308 $ - $ - $ 2,010,308 $ Housing Rehabilitation Loans:

CDBG Loan 212,446 - - 212,446
Emergency Repair Loan 299,766 - (42,621) 257,145
Begin Home Grant 344,050 - - 344,050
Total Housing Rehabilitation Loans 865,467 - (42,621) 813,641 Whitmore Oaks 865,361 - - 865,361
Della Tiara 2,486,399 - - 2,486,399
Total loans receivable 6,227,535 $ - $ (42,621) $ 6,175,709 $

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
61 4. LOANS AND NOTES RECEIVABLE, Continued
The following is a summary of the loans and notes receivable outstanding as of June 30, 2025:

First-Time Homebuyer Loans
The City has provided various loans to assist first-time homebuyers with loans up to $50,000. Loan repayment is deferred for 30 years or until sale or refinancing of the property. Interest rates vary from 1% to 5%. Total first-time homebuyer loans outstanding at June 30, 2025 were $2,010,308.

Housing Rehabilitation Loans
The City administers various housing rehabilitation loan programs using Community Development Block Grant funds and Begin Home Funds. Under these programs, individuals with incomes below a certain level are eligible to receive low interest, variable term loans, secured by deeds of trust for rehabilitation work on their homes. Interest rates may vary from 0% to 3%. The loan repayments may be amortized over the life of the loans, deferred or a combination of both. Total rehabilitation loans outstanding at June 30, 2025 were $813,641.

Whitmore Oaks
The Whitmore Oaks loan was made to assist the developer with the costs to develop and construct a 53 unit apartment complex for seniors. The CRA provided a loan of $612,500 and the City, through the State’s HOME Investment Partnership Program, provided a loan of up to $865,361. Loan provisions require the apartment complex provide not less than eleven affordable housing units to be rented to qualified very-low and low income persons and families. The CRA loan carries an interest rate of 3% starting 2015 and the note is payable in full in 2057. The HOME loan carries an interest rate of 3% starting in 2027 and the note is payable in full in 2042. The amount outstanding at June 30, 2025 was $865,361.

Della Tiara
The CRA provided a loan to Della Tiara for the construction of a 26-unit apartment complex (the “Project) using HOME grant funds. The loan bears simple interest of 3% per year and interest begins to accrue January 1, 2015. The loan is deferred for 55 years. Commencing in 2020, principal and interest is due in an amount equal to 35% of residual cash flow from the Project provided that the residual cash flow in any year is over $10,000. The amount outstanding at June 30, 2025 was $2,486,399.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
62 5. CAPITAL ASSETS
Capital asset activity for governmental activities for the year ended June 30, 2025, was as follows:

Balance Balance
July 1, 2024 Additions Deletions June 30, 2025
Governmental activities:

Nondepreciable assets:

Land 14,753,193 $ - $ - $ 14,753,193 $
Total nondepreciable assets 14,753,193 - - 14,753,193
Depreciable assets:

Buildings and improvements 46,924,137 1,245,156 - 48,169,293 Machinery & equipment 22,562,740 1,085,398 - 23,648,138 Infrastructure 111,225,836 - - 111,225,836
Total depreciable assets 180,712,713 2,330,554 - 183,043,267 Total 195,465,906 2,330,554 - 197,796,460
Accumulated depreciation:

Buildings and improvements (22,999,417) (1,838,875) - (24,838,292) Machinery & equipment (14,690,201) (1,428,396) - (16,118,597) Infrastructure (75,258,463) (3,296,972) - (78,555,435)
Total accumulated depreciation (112,948,081) (6,564,243) - (119,512,324) Net depreciable assets 67,764,632 (4,233,689) - 63,530,943 Total net capital assets 82,517,825 $ (4,233,689) $ - $ 78,284,136 $ Depreciation expense for capital assets was charged to functions as follows:

General government 1,896,942 $
Public safety 444,274
Public works 4,118,576
Community services 32,985
Economic development 71,466
Total 6,564,243 $

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
63 5. CAPITAL ASSETS, Continued
Capital asset activity for business-type activities for the year ended June 30, 2025, was as follows:

Balance Deletions/ Balance
July 1, 2024 Additions Adjustments June 30, 2025
Business-type activities:

Nondepreciable assets:

Land 3,291,818 $ - $ - $ 3,291,818 $
Construction in progress - - - -
Intangible Asset 65,686,073 - - 65,686,073
Total nondepreciable assets 62,360,970 - - 68,977,891
Depreciable assets:

Buildings and improvements 9,670,801 - - 9,670,801
Machinery & equipment 7,019,314 28,789 7,048,103
Infrastructure 55,412,240 1,291,315 - 56,703,555
Total depreciable assets 72,102,355 1,320,104 - 73,422,459 Total 134,463,325 1,320,104 - 142,400,350
Accumulated depreciation:

Buildings and improvements (6,933,043) (322,315) (4,465) (7,259,823) Machinery & equipment (5,919,178) (221,746) - (6,140,924) Infrastructure (20,929,254) (1,753,296) - (22,682,550)
Total accumulated depreciation (33,781,475) (2,297,357) (4,465) (36,083,297) Net depreciable assets 38,320,880 (977,253) (4,465) 37,339,162 Total net capital assets 100,681,850 $ (977,253) $ (4,465) $ 106,317,053 $ Depreciation expense for business-type activity capital assets was charged to functions as follows:

Water 1,353,289 $
Sewer 944,068
Total 2,297,357 $

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
64 6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Accounts payable and accrued liabilities consisted of the following at June 30, 2025:

Governmental Business-type Fiduciary
Activities Activities Activities Total
Accounts payable 1,904,970 $ 2,184,774 $ - $ 4,089,744 $ Accrued payroll and related liabilities 119,943 262,513 - 382,456 Total 2,024,913 $ 2,447,287 $ - $ 4,472,200 $
Amounts do not indicate a significant concentration (greater than 25%) with any single vendor or employee.

7. SPECIAL ASSESSMENT DISTRICTS
Special Assessment bonds have been issued under the 1915 Bond Act. The City is in no way liable for repayment of any bonds of the funds reflected in the Agency funds, according to bond counsel, but is acting only as an agent for the property owners/bond holders in collecting and forwarding the special assessments. Balances of the various assessment district bonds were as follows as of June 30, 2025:
2002 - WestPointe Refunding Reassessment District – Original Issue $2,960,000 In fiscal year 2003, the City issued the WestPointe Refunding Reassessment District Bonds. Proceeds from the sale of the bonds was used to call and redeem all of the outstanding principal amount of the bonds previously issued by the City for its Westpointe Improvement Assessment District and to pay certain costs of issuance of the bonds. The City is the collecting and paying agent for the bonds issued by the WestPointe Assessment District (District), but has no direct or contingent liability or moral obligation for the payment of these bonds. Assets held by the City on behalf of the District are recorded in an agency fund. Accordingly, the assets and outstanding bond obligations of the District are not presented in the accompanying Basic Financial Statements. As of June 30, 2025, there is no outstanding balance of the Westpointe Refunding Reassessment District Bonds.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
65 8. LONG-TERM LIABILITIES
The following is a summary of changes in long-term debt for business-type activities for the year ended June 30, 2025:

Balance Balance Due Within
July 1, 2024 Additions Retirements June 30, 2025 One Year Governmental Activities:

Compensated absences 1,438,863 $ - $ (375,572) $ 1,063,291 $ 425,316 $ Total governmental activities 1,438,863 $ - $ (375,572) $ 1,063,291 $ 425,316 $ Business-type Activities:
2020 Water Refunding Bonds 2,893,000 $ - $ (167,000) $ 2,726,000 $ 171,000 $ 2020 Wastewater Refunding Bonds 5,015,000 - (289,000) 4,726,000 297,000 Compensated absences 310,071 22,286 - 332,357 132,943
Total business-type activities 8,218,071 $ 22,286 $ (456,000) $ 7,784,357 $ 600,943 $ Loan Payable – Original Issue $1,193,500
On March 15, 2012, the City entered into a loan agreement with the Energy Resources Conservation and Development Commission for the construction of City street lights. The loan principal is payable semiannually starting on December 22, 2012 through June 22, 2025. The interest rate is 3.0% and is semiannually on December 22 and June 22. The loan was fully repaid during the fiscal year ended June 30, 2025, and no outstanding balance remained as of June 30, 2025. 2020 Water Revenue Bond, Refunding – Original Issue $3,658,000 The Ceres Financing Authority issued the Water Revenue Bonds, Series A in the amount of $4,750,000 to finance the acquisition and construction of certain improvements to the water enterprise system of the City. On March 1, 2020, the City issued $3,658,000 principal amount of 2021 Water Revenue Bonds to refund the outstanding principal balance of $3,830,000 for the 2009 Water Revenue Bonds. The reacquisition price did not exceed the net carrying amount of the old debt. This refunding decreased its total debts service payments by $1,224,059 and to obtain an economic gain (difference between the present values of the debt service payments on the old and new debt) of $239,036. The bonds mature annually through June 1, 2038, in amounts ranging from $145,000 to $251,000. The interest rate is 3.27% and are payable semiannually on June 1 and December 1. Bonds are payable from revenues consisting primarily of installment payments payable by the City to the Authority under a Water Installment Purchase Agreement. The outstanding balance at June 30, 2025 is $2,726,000. 2020 Wastewater Revenue Bond, Refunding – Original Issue $6,355,000 On December 22, 2009, Ceres Financing Authority issued the Wastewater Revenue Bonds, Series A in the amount of $8,220,000 to finance the acquisition and construction of certain improvements to the wastewater enterprise system of the City. On March 1, 2020, the City issued $6,355,000 principal amount of 2020 Wastewater Revenue Bonds to refund the outstanding principal balance of $6,650,000 for the 2009 Wastewater Revenue Bonds. The reacquisition price did not exceed the net carrying amount of the old debt. This refunding decreased its total debts service payments by $2,117,929 and to obtain an economic gain (difference between the present values of the debt service payments on the old and new debt) of $411,327.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
66 8. LONG-TERM LIABILITIES, Continued
The principal of the bonds are payable annually starting on June 1, 2020 through June 1, 2038, in amounts ranging from $270,000 to $438,000. The interest rate is 3.27% and are payable semiannually on June 1 and December 1. Bonds are payable from revenues consisting primarily of installment payments payable by the City to the Authority under a Wastewater Installment Purchase Agreement. The outstanding balance at June 30, 2025 is $4,726,000.

Future debt service at June 30, 2025, is as follows for all remaining debt except claims liabilities:

Year Ending
June 30,
Principal Interest Principal Interest
2026 171,000 $ 89,140 $ 297,000 $ 154,540 $
2027 179,000 83,549 309,000 144,828
2028 182,000 77,695 317,000 134,724
2029 190,000 71,744 329,000 124,358
2030 197,000 65,531 339,000 113,600
2031-2035 1,074,000 227,723 1,863,000 394,787
2036-2040 733,000 48,429 1,272,000 84,072
Total 2,726,000 $ 663,811 $ 4,726,000 $ 1,150,909 $
Due within one year 171,000 $ 89,140 $ 297,000 $ 154,540 $ Due after one year 2,555,000 574,671 4,429,000 996,369
Total 2,726,000 $ 663,811 $ 4,726,000 $ 1,150,909 $
Business-type Activities
2020 Water
Refunding Bonds Refunding Bonds
2020 Wastewater
Compensated Absences
The City recognizes a liability for compensated absences that are attributable to services already rendered and that accumulate and are probable of being used or otherwise paid or settled. These compensated absences primarily include vacation and similar leave benefits. Compensated absences had balances of $1,063,291 and $332,357 for governmental activities and business-type activities, respectively, as of June 30, 2025.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
67 9. NET POSITION/ FUND BALANCES
Net Position
Governmental Business-type
Activities Activities Totals
Net investment in capital assets 78,284,136 $ 113,301,053 $ 191,585,189 $ Restricted 16,961,415 - 16,961,415
Unrestricted (5,731,386) 54,470,012 48,738,626
Total 89,514,165 $ 167,771,065 $ 257,285,230 $
 Restricted balances are for the same purposes as fund balance restrictions because external restriction requirements are the same. See descriptions of the restrictions below.

Fund Balance
Nonspendable, Restricted and Committed fund balance consisted of the following at June 30, 2025:

Nonspendable:

Prepaid items 14,151 $
Total nonspendable 14,151 $
Restricted for:

Measure H Income 61,433 $
Home Program 1,125,283
Measure L 10,711,841
CDBG Programs 466,316
Program Income BEGIN 237,800
SLESF 148,780
Dept of Conservation Grant 53,504
Fire Hydrant Benefit District 129,636
Ceres Community Foundation 145,305
Road Maintenance and Rehab 3,832,924
SB 1383 Local Assistance Grant 48,593
Total restricted 16,961,415 $
Committed:

Community Facilities District 37,454 $
Total committed 37,454 $

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
68 9. NET POSITION/ FUND BALANCES, Continued
The following describe the purpose of each nonspendable, restriction and commitment used by the City:

Nonspendable
Prepaid items – used to segregate that portion of fund balance to indicate that prepaid amounts do not represent available, spendable resources even though they are components of assets.

Restricted
Measure H Income– represents amounts restricted as a result of a voter approved ½-cent retail transaction and use tax (sales tax) for the improvement of police, fire and 9-1-1 emergency response; to fund additional personnel and equipment costs.

HOME Program – represents amounts restricted for housing under the HOME program.

Measure L – represents amounts restricted for use of local street and road improvements, arterial street widening, signalization, pedestrian, bicyclist, and driver safety improvement projects.

CDBG Programs – represents amounts restricted for housing purposes by the Department of Housing and Urban Development.

BEGIN Grant Program – represents amounts restricted for the Building Equity & Growth in Neighborhoods grant to be utilized for deferred-payment second mortgage loans for down payment assistance to lower to moderate-income first-time homebuyers of new homes in projects with affordability enhanced by local regulatory incentives or barrier reductions.

Supplemental Law Enforcement Services Fund (SLESF) - Accounts for revenues and expenditures associated with State funds provided as a match for the COPS Universal Hiring Grant.

Dept. of Conservation Grant – represents amounts restricted for department of conservation grant programs.

Fire Hydrant Benefit District – represents amounts restricted for use in the fire hydrant benefit district.

Transportation Development Act – represents amounts restricted by use by the Transportation Development Act for transportation, including streets and roads.

Ceres Community Foundation - represents amounts restricted for use for the Ceres Community Foundation.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
69 9. NET POSITION/ FUND BALANCES, Continued
Restricted, Continued
Road Maintenance and Rehab – Restricted to continue essential road maintenance and rehabilitation projects, safety improvements, repairing and replacing aging bridges, and increasing access and mobility options to the traveling public.

SB2 Planning Grants Program – Restricted for technical planning assistance related to the preparation, adoption, and implementation of plans that streamline housing approvals and support the acceleration of housing production.

SB 1383 Local Assistance Grant - This fund will track grant funds from CalRecycle and expenditures associated with complying with Senate Bill 1383.

Committed
Community Facilities District – amounts committed for Police, Fire, Parks and Administrative Services. These amounts can only be charged by Council Resolution.

Deficit fund balances consisted of the following:

Nonmajor Special Revenue Funds:

State Gas Tax - $454,219 resulted from street project costs in excess of revenues. The City plans to address this deficit next fiscal year.

Street Light Landscape District - $572,578 resulted from operational costs in excess of revenues.

The City plans to address this deficit next fiscal year with the review of the Special District's rates.

CMAQ - $977,886 resulted from street project costs in excess of revenues. The City plans to address this deficit next fiscal year.

Transportation Development Act - $220,902 resulted from the advance of funds from the City with revenues to be received in future years.

Daniel Whitmore House - $22,826 resulted from the advance of funds from the City with revenues to be received in future years.

Clinton Whitmore Mansion - $161,757 resulted from the advance of funds from the City with revenues to be received in future years.

SB2 Planning Grants Program Fund - $11,590 resulted from operational costs in excess of revenues. The City plans to address this deficit next fiscal year.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
70 9. NET POSITION/ FUND BALANCES, Continued
Excess of Expenditures and Transfers Over Appropriations: Expenditures and transfers exceeded appropriations for the year ended June 30, 2025, for the following funds:

Total Excess
Expenditures Expenditures
Final Budget and Transfers Over Appropriations
Governmental Activities
Major Funds:

Measure H 4,704,732 $ 4,890,479 $ (185,747) $
Non-major Funds:

Special Revenue Funds:

Street Expansion 13,767 18,924 (5,157)
Neighborhood Park Fees 105,419 169,307 (63,888)
SLESF 100,000 194,663 (94,663)
Abandoned Vehicle Abatement 37,315 47,971 (10,656)
Community Facilities District 757,500 802,764 (45,264)
Public Facilities Fees 51,844 379,293 (327,449)
Clinton Whitmore Mansion 13,539 13,830 (291)
SB2 Planning Grants 15,000 29,450 (14,450)

10. INTERFUND TRANSACTIONS
Due to and due from other funds consisted of the following as of June 30, 2025:

Due from Due to
Other Funds Other Funds
Governmental Activities
Major Funds:

General Fund 5,384,807 $ - $
Measure H - 669,196
Community Center - 2,190,171
Total Major Funds 5,384,807 2,859,367
Non-major Funds:

Special Revenue Funds:

State Gas Tax - 567,571
Street Light-Landscape District - 567,197
CMAQ - 973,466
Transportation Development Act - 220,902
Daniel Whitmore House - 22,762
Clinton Whitmore Mansion - 161,716
SB2 Planning Grants Program Fund - 11,590
Total Non-major Special Revenue Funds - 2,525,204
Total Non-major Funds - 2,525,204
Internal Service Funds:

Risk Management - 236
Total Governmental Activities 5,384,807 $ 5,384,807 $

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
71 10. INTERFUND TRANSACTIONS, Continued
Due to and from balances result from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3) payments between funds are made.

Activity for advances for the year ended June 30, 2025, was as follows:

Advances to Advances from
Other Funds Other Funds
Governmental Activities
Major Funds:

General Fund 531,494 $ 1,647,815 $
Total Major Funds 531,494 1,647,815
Enterprise Funds
Sewer 1,647,815 -
Total Enterprise Funds 1,647,815 -
Successor Agency

CRA - -
SCRC - 531,494
Total Successor Agency - 531,494
Total Advances 2,179,309 $ 2,179,309 $
Advances from the General Fund to the Successor Agency - SCRC were for Redevelopment Agency start-up costs. Advances from the Sewer Fund to the General Fund were made in the form of a loan to finance the purchase of a fire engine apparatus.

Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them, and (2) use unrestricted revenues collected in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
72 10. INTERFUND TRANSACTIONS, Continued
Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them, and (2) use unrestricted revenues collected in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations.

Transfers consisted of the following at June 30, 2025:

Transfers In Transfers Out
Governmental Activities
Major Funds:

General Fund 802,323 $ 308,300 $
Measure H - -
Total Major Funds 802,323 308,300
Non-major Funds:

Special Revenue Funds:

Community Facilities District - 798,023
Total Non-major Special Revenue Funds - 798,023
Total Governmental Activities 802,323 1,106,323
Proprietary Funds
Sewer 304,000 -
Total Propretary Funds 304,000 -
Total Transfers 1,106,323 $ 1,106,323 $
Transfers In reported in the General fund from the Non-Major Governmental funds represent the City’s commitment to supporting recreation programs. Transfers In reported in Non-Major Governmental funds from Major Governmental funds represent support for community services expenses.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
73 11. RISK MANAGEMENT
The City participates with other public entities in a joint venture under a joint powers agreement which established the Central San Joaquin Valley Risk Management Authority (CSJVRMA). The relationship between the City and the CSJVRMA is such that the CSJVRMA is not a component unit of the City for financial reporting purposes.

The City is covered for the first $1,000,000 of each general liability claim and $500,000 of each workers’ compensation claim through the CSJVRMA. The City has the right to receive dividends or the obligation to pay assessments based on a formula which, among other expenses, charges the City’s account for liability losses under the City’s self-insurance retention of $50,000 and workers’ compensation losses under the City’s self-insurance retention of $100,000. The CSJVRMA participates in an excess pool, which provides general liability coverage from $1,000,001 to $15,000,000. The CSJVRMA participates in an excess pool, which provides workers’ compensation coverage from $500,001 to $5,000,000 and also purchases excess insurance above the $5,000,000 to the statutory limit.

The CSJVRMA is a consortium of fifty-four (54) cities in San Joaquin Valley, California. It was established under the provisions of California Government Code Section 6500 et seq. The CSJVRMA is governed by a Board of Directors, which meets three to four times per year, consisting of one member appointed by each member city. The day-to-day business is handled by a management group employed by the CSJVRMA.

The financial information from the audited financial statements of the CSJVRMA, as of June 30, 2025, the most recent available, is presented below:

Total assets 206,777,744 $
Total liabilities 157,063,998
Total equities 49,713,746
Total revenues 94,036,144
Total expenses 86,877,199
Revenues over (under) expenses 7,158,945
Detailed financial information may be obtained from the CSJVRMA.

At the termination of the joint powers agreement and after all claims have been settled, any excess or deficit will be divided among the cities in accordance with the governing documents. There were no excess claims over premiums for any of the City’s risk management programs in 2024-2025, and there were no changes to the City’s insurance coverage from the prior year.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
74 11. RISK MANAGEMENT, Continued
The following chart depicts the claims payments and liability amounts for the years shown:

Current Year Claim Payments
Beginning of Claims and Changes for Current and End of Year Fiscal Year Year Liability in Estimates Prior Years Liability 2020-2021 1,171,093 2,104,386 (2,256,683) 1,018,796
2021-2022 1,018,796 3,373,922 (2,987,921) 1,404,797
2022-2023 1,404,797 2,195,524 (2,023,050) 1,577,271
2023-2024 1,577,271 2,043,593 (1,949,963) 1,670,901
2024-2025 1,670,901 2,361,038 (2,308,108) 1,723,831

12. PENSION PLAN
A. General Information about the Pension Plan
Plan Description
The City is a participant in the Stanislaus County Employees Retirement Association (StanCERA), a retirement system organized under the 1937 Retirement Act. StanCERA is a cost-sharing multiple employer Public Employee Retirement System (PERS). StanCERA provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits. Health and welfare insurance for retirees and their dependents is available however administered independently of StanCERA. The plan is administered by StanCERA. An actuarial valuation is performed for the system annually as a whole and the contribution rate is determined for each participating entity. The participating entities are the County, City of Ceres, and six special districts located in the County not governed by the County’s Board of Supervisors. StanCERA issues a Comprehensive Annual Financial Report (CAFR) that includes financial statements and required supplementary information for StanCERA. The CAFR may be obtained by writing to Stanislaus County Employees Retirement Association, P.O. Box 3150, Modesto, CA 95353-3150 or by calling (209) 525-6393.

The StanCERA CAFR is prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which the contributions are due. Employer contributions are recognized when due and a formal commitment to provide the contributions has been made. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan.

Plan investments are reported at fair value. Short-term investments are reported at cost, which approximates fair value. All other securities are valued at the last reported market price at current exchange rates.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
75 12. PENSION PLAN, Continued
Summary of Plans and Eligible Participants
General Tiers 1,2,4,5 (not open to new members) Vests after five years of credited service and may retire at age 50 or older with 10 or more years of
membership with StanCERA or any age with 30
or more years of credited service.

General Tier 3 (not open to new members) Vests after ten years of credited service and may retire at age 55 with 10 or more years of credited
service.

General Tier 6 (open to new members) Vests after five years of credited service and may retire at age 52 with 5 years of service credit or
age 70 regardless of service credit.

Safety Tiers 1, 2, 4, 5 (not open to new members) Vests after five years of credited service and may retire at age 50 or older with 10 or more years of
membership with StanCERA or any age with 20
or more years of credited service.

Safety Tier 6 (open to new members) Vests after five years of credited service and may retire at age 50 with 5 years of service credit or
age 70 regardless of service credit.

Benefits Provided
Members terminating employment before accruing ten years for Tier 3 of retirement service credit forfeit the right to receive retirement benefits unless they establish reciprocity with another public agency within the prescribed time period. Non-vested members who terminate service are entitled to withdraw their accumulated contributions plus accrued interest. Members who terminate after earning five or ten years of retirement service credit may leave their contributions on deposit and elect to take a deferred retirement. Difference between expected or actual experience for vested and non-vested benefits may result in an increase or decrease to pension expense and net pension liability.

For members with Tier 1, Tier 4, or Tier 5 benefits, final average salary is the average monthly salary based on the highest twelve consecutive months of earnings. For members with Tier 2, Tier 3, or Tier 6 benefits, final average salary is the average monthly salary based on the highest thirty-six consecutive months of earnings.

The retirement benefit for Tier 1, Tier 2, Tier 4, Tier 5, and Tier 6 members includes a postretirement cost-of-living adjustment (COLA) based upon the Consumer Price Index. COL increases/decreases are limited to a maximum of 3% annually. Total COL decrease(s) cannot exceed the cumulative amount of previous COLA increase(s). Tier 1, Tier 2, Tier 4, Tier 5, and Tier 6 provide death and disability benefits.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
76 12. PENSION PLAN, Continued
Those members participating in Tier 1, Tier 2, Tier 4, Tier 5, and Tier 6 are required by statute to contribute to the pension plan. Members’ contribution rates for Tier 1, Tier 2, Tier 4, and Tier 5 are formulated on the basis of the age at date of entry and the actuarially calculated future benefits. Members’ contribution rate for Tier 6 is a flat rate based on the actuarially calculated future benefit. The City is required by statute to contribute the remaining amounts necessary to finance the estimated benefits accrued to its members. Member and employer contribution rates for each plan are as follows:

Plan
Employer
Contribution Rates
Employee
Contribution Rates
General Tier 2 30.75% 4.60-11.59%
General Tier 4 22.56% 3.25-7.91%
General Tier 5 34.90% 5.44-13.07%
General Tier 6 28.33% 8.54%
Safety Tier 5 50.35% 8.84-17.41%
Safety Tier 6 43.33% 14.73%
Contributions
The City’s contributions to StanCERA for the fiscal year ended June 30, 2025, was equal to the required contributions. The required contributions for the last three fiscal years are noted in the below chart. The City does not contribute towards post-employment benefits other than retirement.

Fiscal Year End Contributions
June 30, 2023 5,981,838 $
June 30, 2024 5,486,626
June 30, 2025 6,351,678
The County Employees’ Retirement Law of 1937 establishes the basic obligations for employer and member contributions and benefits to and of the retirement system. The actual employer and member contribution rates in effect each year are based on recommendations made by an independent actuary and adopted by the StanCERA Board of Retirement.

StanCERA provides a death benefit of $5,000 paid to the beneficiary or estate if a member dies after retirement, provided that Stanislaus County was the members’ last public employer.

Ad-hoc benefits are non-vested benefits determined by the Board of Retirement. Approved changes to the excess earnings policy by the Board of Retirement on June 30, 2014, placed restrictions on offering ad-hoc benefits, specifically that the system must be 100% actuarially funded prior to the Board of Retirement offering any ad-hoc benefits. StanCERA is 78.5% actuarially funded as of June 30, 2025.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
77 12. PENSION PLAN, Continued
B. Net Pension Liability
The City’s net pension liability for the Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of the Plan is measured as of June 30, 2024, using an annual actuarial valuation as of June 30, 2023, rolled forward to June 30, 2024, using standard update procedures. A summary of principal assumptions and methods used to determine the net pension liability is shown below.

Actuarial Assumptions Used to Calculate Net Pension Liability The total pension liability in the June 30, 2025 actuarial valuations was determined using the following actuarial assumptions:

Actuarial Assumptions
Valuation date June 30, 2023
Measurement date June 30, 2024
Actuarial cost method Entry-age normal cost method
Actuarial assumptions:

Discount rate 6.75%
Inflation 2.50%
Payroll growth 2.75% for those eligible for COLA
Projected salary increases 2.75% plus merit component
Investment Rate of Return 6.75%
Post-retirement mortality rates were based on the RP2000 Combined tables projected to the year 2020 with adjustments for mortality improvements based on Society of Actuaries Scale AA. For preretirement mortality, withdrawal rates, disability rates and service retirement rates, the rates vary by age, gender and classification.

Discount Rate - The discount rate used to measure the total pension liability was 6.75%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current contribution rate and that contributions from the employers will be made at contractually required rates, actuarially determined. Based on those assumptions, the pension plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
78 12. PENSION PLAN, Continued
B. Net Pension Liability, Continued
The long-term defined benefit pension plan return expectations were determined using a building-block approach. An inflation forecast is the baseline and various real return premiums (e.g. bonds, equities, etc.) are added to create nominal return expectations for each asset class.

These expectations are combined to produce the long-term expected rate of return by weighting the expected nominal rates of return by the target asset allocation percentages and including an expected return from rebalancing uncorrelated asset classes.

Best estimates of geometric real rates of return for each major asset class included in the target asset allocation as of June 30, 2025 are summarized in the following table:

Asset Class
Target
Allocation
Long-Term Expected
Real Rate of Return
Domestic Equities
US Large Cap 16.00% 2.10%
US Small Cap 4.00% 3.20%
International Equities
International Development 14.50% 2.50%
Emerging Market Equity 5.50% 6.70%
US Fixed Income
US Treasury 6.00% 1.70%
Short-term Gov/Credit 7.00% 3.20%
Real Estate Securities
Core 6.50% 2.80%
Value-add 6.00% 4.20%
Risk Parity 10.00% 3.00%
Absolute Return 3.00% 3.10%
Private Equity 5.00% 6.60%
Private Credit 8.00% 6.10%
Infrastructure 7.50% 3.80%
Cash 1.00% 150.00%
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions
As of June 30, 2025, the City reported net pension liabilities for its proportionate share of the net pension liability of the Plan of $43,406,000.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
79 12. PENSION PLAN, Continued
B. Net Pension Liability, Continued
The City's net pension liability for the Plan is measured as the proportionate share of the net pension liability. The net pension liability of the Plan is measured as of June 30, 2024, and the total pension liability for the Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2023 rolled forward to June 30, 2024 using standard update procedures. The City's proportion of the net pension liability was based on a projection of the City's long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. The City’s proportionate share of the net pension liability for the Plan as of June 30, 2025 and 2024 was 5.5045% and 5.5233% respectively.

For the year ended June 30, 2025, the City recognized pension expense of $7,286,000. At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows Deferred Inflow
of Resources of Resources
Pension contributions subsequent to measurement date 6,351,678 $ - $ Differences between actual and expected experience 5,975,000 - Changes in proportions - -
Differences between the employer's contributions and the employer's proportionate share of the contributions 2,434,000 4,013,000 Net differences between projected and actual earnings on plan investments 208,000 -
Changes in assumptions 89,000 1,055,000
Total $ 15,057,678 $ 5,068,000
$6,351,678 reported as deferred outflows of resources related to contributions subsequent to the measurement date and changes in proportion that will be recognized as a reduction of the net pension liability in the year ended June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Year Ended
30-Jun
2025 (10,000) $
2026 4,825,000
2027 (611,000)
2028 (566,000)
2029 -
Thereafter -

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
80 12. PENSION PLAN, Continued
B. Net Pension Liability, Continued
Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the City calculated using the discount rate of 6.75%, as well as what the plan’s net pension liability would be if it were calculated using a discount rate that is one percentage point lower (5.75%) or one percentage point higher (7.75%) than the current rate:
1% Decrease in
Discount Rate
Current Discount
Rate
1% increase in
Discount Rate
(5.75%) (6.75%) (7.75%)
Net pension liability 70,476,385 $ 43,406,000 $ 21,155,115 $ Pension Plan Fiduciary Net Position – Detailed information about the pension plan’s fiduciary net position is available in the separately issued Association financial reports.

13. ABANDONED VEHICLE ABATEMENT PROGRAM
The City has an Abandoned Vehicle Abatement Program (AVA) with revenues, expenditures, and balances of abandoned vehicle abatement funds for the year ended June 30, 2025 as follows:

Revenues 69,759 $
Expenditures:

Public safety 47,971
Revenues (under) expenditures 21,788
Fund balances:

Beginning balance 71,466
Ending balance 93,254 $
AVA expenditures for 2025 are in compliance with Sections 9250.7 and 22710 of the Vehicle Code.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
81 14. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY
On December 29, 2013, the California Supreme Court upheld Assembly Bill 1X 26 (“the Bill”) that provides for the dissolution of all redevelopment agencies in the State of California. This action impacted the reporting entity of the City of Ceres that previously had reported two redevelopment agencies within the reporting entity of the City as blended component units.

The Bill provides that upon dissolution of a redevelopment agency, either the city or another unit of local government will agree to serve as the “successor agency” to hold the assets until they are distributed to other units of state and local government. On January 9, 2013, the City Council elected to become the Successor Agency for both the former Ceres Redevelopment Agency and StanislausCeres Redevelopment Commission in accordance with the Bill as part of City resolution number 2013- 04 and 2013-05, respectively.

After enactment of the law, which occurred on June 28, 2011, redevelopment agencies in the State of California cannot enter into new projects, obligations or commitments. Subject to the control of a newly established oversight board, remaining assets can only be used to pay enforceable obligations in existence at the date of dissolution (including the completion of any unfinished projects that were subject to legally enforceable contractual commitments).

In future fiscal years, successor agencies will only be allocated revenue in the amount that is necessary to pay the estimated annual installment payments on enforceable obligations of the former redevelopment agency until all enforceable obligations of the prior redevelopment agency have been paid in full and all assets have been liquidated.

The Bill directs the State Controller of the State of California to review the propriety of any transfers of assets between redevelopment agencies and other public bodies that occurred after January 1, 2011.

If the public body that received such transfers is not contractually committed to a third party for the expenditure or encumbrance of those assets, the State Controller is required to order the available assets to be transferred to the public body designated as the successor agency by the Bill.

Management believes, in consultation with legal counsel, that the obligations of the former redevelopment agency due to the City are valid enforceable obligations payable by the successor agency trust under the requirements of the Bill. The City’s position on this issue is not a position of settled law and there is considerable legal uncertainty regarding this issue. It is reasonably possible that a legal determination may be made at a later date by an appropriate judicial authority that would resolve this issue unfavorably to the City.

In accordance with the timeline set forth in the Bill (as modified by the California Supreme Court on December 29, 2011) all redevelopment agencies in the State of California were dissolved and ceased to operate as a legal entity as of February 1, 2013. Prior to that date, the final seven months of the activity of the redevelopment agency continued to be reported in the governmental funds of the City included in the fund financial statements as Former Ceres Redevelopment Agency Special Revenue Fund and Low/Moderate Income Housing Fund, Capital Projects Fund and Debt Service Fund.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
82 14. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
The City also reported the Former Stanislaus-Ceres Redevelopment Commission Special Revenue Fund and Low/Moderate Income Housing Fund, Capital Projects Fund and Debt Service Fund.

After the date of dissolution, the assets and activities of the dissolved redevelopment agency are reported in a fiduciary fund (private-purpose trust fund) in the financial statements of the City. The transfer of the assets and liabilities of the former redevelopment agency as of February 1, 2013 (effectively the same date as January 31, 2013) from governmental funds of the City to fiduciary funds was reported in the governmental funds as an extraordinary loss (or gain) in the governmental fund financial statements. The receipt of these assets and liabilities as of January 31, 2013 was reported in the private-purpose trust fund as an extraordinary gain (or loss).

Because of the different measurement focus of the governmental funds (current financial resources measurement focus) and the measurement focus of the trust funds (economic resources measurement focus), the extraordinary loss (gain) recognized in the governmental funds was not the same amount as the extraordinary gain (loss) that was recognized in the fiduciary fund financial statements.

Loans and notes receivable
Through the City’s various housing rehabilitation funds and first-time home buyer’s funds, the City has loaned funds to qualifying individuals and businesses. Interest rates vary depending on the terms of the loan. Interest is accrued on the loans that bear interest.

Through the City’s various housing rehabilitation funds and first-time home buyer’s funds, the City has loaned funds to qualifying individuals and businesses. Interest rates vary depending on the terms of the loan. Interest is accrued on the loans that bear interest.

Loans and notes receivable for the year ended June 30, 2025 for the Successor Agency, consisted of the following:

Beginning Ending
Description June 30, 2024 Additions (Deletions) June 30, 2025 First-Time Homebuyer Loans 6,600 $ - $ - $ 6,600 $
Housing Rehabilitation Loans:

Home Exterior Grant Program 16,624 - - 16,624
2004 Walnut 96,772 - - 96,772
Low Income Deferred Loans 24,250 - - 24,250
Habitat for Humanity Loans 56,353 - - 56,353
Broad Acres 168,272 - - 168,272
Total Housing Rehabilitation Loans 362,271 - - 362,271
Whitmore Oaks 612,500 - - 612,500
Della Tiara 633,000 - - 633,000
Total loans receivable 1,614,371 $ - $ - $ 1,614,371 $

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
83 14. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
The following is a summary of the loans and notes receivable outstanding as of June 30, 2025:

First-Time Homebuyer Loans
The City has provided various loans to assist first-time homebuyers with loans up to $50,000. Loan repayment is deferred for 30 years or until sale or refinancing of the property. Interest rates vary from 1% to 5%. Total first-time homebuyer loans outstanding at June 30, 2025 were $6,600.

Housing Rehabilitation Loans
The City administers various housing rehabilitation loan programs that used the former CRA 20% Set Aside funds. Under these programs, individuals with incomes below a certain level are eligible to receive low interest, variable term loans, secured by deeds of trust for rehabilitation work on their homes. Interest rates may vary from 0% to 3%. The loan repayments may be amortized over the life of the loans, deferred or a combination of both. Total rehabilitation loans outstanding at June 30, 2025 were $362,271.

Whitmore Oaks
The Whitmore Oaks loan was made to assist the developer with the costs to develop and construct a 53 unit apartment complex for seniors. The former CRA provided a loan of $612,500 and the City, through the State’s HOME Investment Partnership Program, provided a loan of up to $865,361. Loan provisions require the apartment complex provide not less than eleven affordable housing units to be rented to qualified very-low and low income persons and families. The CRA loan carries an interest rate of 3% starting 2015 and the note is payable in full in 2057. The HOME loan carries an interest rate of 3% starting in 2027 and the note is payable in full in 2042. The amount outstanding at June 30, 2025 was $612,500.

Della Tiara
The CRA provided a loan to Della Tiara for the construction of a 26-unit apartment complex (the “Project) using HOME grant funds. The loan bears simple interest of 3% per year and interest begins to accrue January 1, 2015. The loan is deferred for 55 years. Commencing in 2020, principal and interest is due in an amount equal to 35% of residual cash flow from the Project provided that the residual cash flow in any year is over $10,000. The amount outstanding at June 30, 2025 was $633,000.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
84 14. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
Long-term Liabilities
The following is a summary of changes in long-term debt for fiduciary activities for the year ended June 30, 2025:

Balance Transfers/ Balance Due Within
July 1, 2024 Additions Retirements June 30, 2025 One Year Fiduciary Activities:
2000 SCRC Tax Allocation Bonds $ 610,000 $ - $ (70,000) $ 540,000 $ 75,000 2015 Successor CRA Tax Allocation
Refunding Bonds 5,685,000 - (370,000) 5,315,000 390,000 Bond premium 138,148 (14,544) 123,604 14,542
2020 CRA Non-Housing Refunding
Tax Allocation Bonds 16,315,000 - (1,125,000) 15,190,000 1,175,000 Bond premium 3,001,743 - (250,143) 2,751,600 250,145
Total fiduciary activities $ 29,213,809 $ - $ (1,829,687) $ 23,920,204 $ 1,904,687 2000 SCRC Tax Allocation Bonds – Original Issue $1,440,000 On May 16, 2000, the SCRC issued tax allocation bonds for the purpose of financing a portion of the costs of the Stanislaus/Ceres Redevelopment Project. The bonds are payable from and secured by the tax revenues to be derived from the project area. The bonds mature annually through 2030, in amounts ranging from $20,000 to $105,000.

Interest rates vary from 4.65% to a maximum of 6.70% and are payable semiannually on May 1 and November 1. The bonds maturing before November 1, 2010, are not subject to optional redemption prior to their stated maturities. Bonds maturing on or after November 1, 2010, are subject to redemption in whole or in part on any interest payment date. Redemption includes a premium of 2% commencing on November 1, 2010, and reduced by 1% on each November 1 thereafter. 2015 Successor Agency to the Ceres Redevelopment Agency Tax Allocation Refunding Bonds On June 17, 2015, the Successor Agency to the CRA issued the CRA Project Area No. 1 Non-Housing bonds. The proceeds will be used to refund and defease the 2003 CRA Tax Allocation Bonds. The NonHousing Bonds are payable from and secured by Tax Revenues allocated to the CRA from the Project Area. Interest on the bonds will be payable on May 1 and November 1 of each year. Non-Housing Bonds maturing on or before November 1, 2020, will not be subject to redemption prior to their stated maturity.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
85 14. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
2020 CRA Non-Housing Tax Allocation Refunding Bonds – Original Issue $20,615,000 On February 25, 2020, the City issued $20,615,000 principal amount of 2021 CRA Non-Housing Tax Allocation Refunding Bonds to refund the outstanding principal balance of $26,105,000 for the 2006 CRA Non-Housing Tax Allocation Bonds and $850,000 for the 2006 CRA Housing Tax Allocation Bonds. The reacquisition price did not exceed the net carrying amount of the old debt. This refunding decreased its total debts service payments by $9,430,620 and to obtain an economic gain (difference between the present values of the debt service payments on the old and new debt) of $7,346,661.

Arbitrage
The Tax Reform Act of 1986 instituted certain arbitrage restrictions with respect to the issuance of taxexempt bonds after August 31, 1986. Arbitrage regulations deal with the investment of all tax-exempt bond proceeds at an interest yield greater than the interest yield to bondholders. Generally, all interest paid to bondholders can be retroactively rendered taxable if applicable rebates are not reported and paid to the Internal Revenue Service (IRS) at least every five years. The City performed calculations of excess investment earnings on various bonds and financings and at June 30, 2025, there were no arbitrage liabilities.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
86 14. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
Future debt service at June 30, 2025, is as follows for fiduciary debt:

Year Ending
June 30,
Principal Interest Principal Interest Principal Interest 2026 75,000 $ 33,649 $ 390,000 $ 256,000 $ 1,175,000 $ 607,600 $ 2027 80,000 28,475 405,000 236,125 1,220,000 560,600
2028 85,000 22,946 430,000 179,463 1,265,000 511,800
2029 95,000 16,918 440,000 134,900 1,320,000 461,200
2030 100,000 10,385 455,000 124,350 1,375,000 408,400
2031-2035 105,000 3,518 3,195,000 383,669 6,625,000 1,302,800 2036-2040 - - - - 2,210,000 88,400
Total 540,000 $ 115,891 $ 5,315,000 $ 1,314,507 $ 15,190,000 $ 3,940,800 $ Due within one year 75,000 $ 33,649 $ 390,000 $ 256,000 $ 1,175,000 $ 607,600 $ Due after one year 465,000 82,242 4,925,000 1,058,507 14,015,000 3,333,200 Total 540,000 $ 115,891 $ 5,315,000 $ 1,314,507 $ 15,190,000 $ 3,940,800 $ Year Ending
June 30,
Principal Interest Principal Interest Principal Interest 2026 14,542 $ - $ 250,145 $ - $ 1,904,687 $ 897,249 $
2027 14,542 - 250,145 - 1,969,687 825,200
2028 14,542 - 250,145 - 2,044,687 714,209
2029 14,542 - 250,145 - 2,119,687 613,018
2030 14,542 - 250,145 - 2,194,687 543,135
2031-2035 50,894 - 1,250,727 - 11,226,621 1,689,987
2036-2040 - - 250,148 - 2,460,148 88,400
Total 123,604 $ - $ 2,751,600 $ - $ 23,920,204 $ 5,371,198 $ Due within one year 14,542 $ - $ 250,145 $ - $ 1,904,687 $ 897,249 $ Due after one year 109,062 - 2,501,455 - 22,015,517 5,371,198 Total 123,604 $ - $ 2,751,600 $ - $ 23,920,204 $ 6,268,447 $ Refunding Bonds
Premium
2015 CRA Tax Allocation
Bonds
Refunding Tax Allocation
Totals
2020 CRA Non-Housing
Refunding Tax Allocation
Bonds
2000 SCRC Tax Allocation
Bonds
2015 CRA Tax Allocation
Refunding Bonds
Premium2020 CRA Non-Housing

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
87 14. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued
Activity for advances for the year ended June 30, 2025, was as follows:

Advances to Advances from
Other Funds Other Funds
Governmental Activities
Major Funds:

General Fund 531,494 $ - $
Total Major Funds 531,494 -
Total Governmental Activities 531,494 -
Fiduciary Activities:

Private Purpose Trust Funds:

Former Ceres Redevelopment Agency
Non-Housing - 1,826,680
Former Ceres Redevelopment Agency
Housing 1,826,680 -
Former Stanislaus - Ceres Redevelopment
Commission Successor Agency Non-Housing - 531,494
Total Private Purpose Trust Funds 1,826,680 2,358,174
Total Fiduciary Activities 1,826,680 2,358,174
Totals 2,358,174 $ 2,358,174 $
Advances from the General Fund to the Former Redevelopment Agency Fund were for Redevelopment start-up costs.

15. COMMITMENTS AND CONTINGENCIES
The City is a party to claims and lawsuits arising in the ordinary course of business. The City’s management and legal council are of the opinion that the ultimate liability, if any, arising from these claims will not have material adverse impact on the financial position of the City. The City participates in a number of federal and state assisted grant programs. These programs are subject to program compliance audits by the grantors. The amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time although the City expects such amounts, if any, to be immaterial.

Stanislaus Regional Water Authority
The City of Ceres and the City of Trulock formed a joint powers authority, the Stanislaus Regional Water Authority (SRWA), in order to develop and finance the Regional Surface Water Supply Project (RSWSP). The project consists of the construction of a water treatment plant (WTP) and associated facilities with the capacity to treat up to 30 million gallons per day (MGD) of surface water from the Tuolumne River. The water will be provided by Turlock Irrigation District (TIO). The RSWSP is also expected to include a system of pipelines to transport the water to the project participants. The environmental review process for the RSWSP and related terminal facilities for each Project Participant is complete.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
88 15. COMMITMENTS AND CONTINGENCIES, Continued
Stanislaus Regional Water Authority
In furtherance of the RSWSP, on February 2, 2020, the SRWA, the Project Participants, and TIO entered into a Regional Surface Water Supply Phase 3 Project Design and Construction Funding Agreement.

Pursuant to the agreement, the City of Ceres will be entitled to 33.3% of the capacity of the RSWSP and the City of Turlock will be entitled to the remaining 66.7%.

The RSWSP project is expected to cost a total of $266,949,332. The City's investment in the project at June 30, 2025, was $65,686,073. Additional information regarding this project can be found at www.stanrwa.com.

16. NEW ACCOUNTING PRONOUNCEMENTS
The GASB has issued Statement No. 100, "Accounting Changes and Error Corrections—an amendment of GASB Statement No. 62." The primary objective of this Statement is to enhance accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability. The implementation of this statement did not have an effect on the financial statements.

The GASB has issued Statement No. 101, "Compensated Absences." The objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unified model and by amending certain previously required disclosures. The implementation of this statement did not have an effect on the financial statements.

The GASB has issued Statement No. 102, “Certain Risk Disclosures.” The requirements of this Statement will improve financial reporting by providing users of financial statements with essential information that currently is not often provided. The disclosures will provide users with timely information regarding certain concentrations or constraints and related events that have occurred or have begun to occur that make a government vulnerable to a substantial impact. As a result, users will have better information with which to understand and anticipate certain risks to a government’s financial condition. The implementation of this statement did not have an effect on the financial statements.

The GASB has issued Statement No. 103, “Financial Reporting Model Improvements.” The objective of this Statement is to improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability. This Statement also addresses certain application issues. The requirements of this Statement will take effect for financial statements starting with the fiscal year that ends June 30, 2026.

City of Ceres, California
Notes to Basic Financial Statements, Continued
For the year ended June 30, 2025
89 16. NEW ACCOUNTING PRONOUNCEMENTS, Continued
The GASB has issued Statement No. 104, “Disclosure of Certain Capital Assets.” The objective of this Statement is to improve the clarity and consistency of note disclosures related to capital assets by requiring governments to separately disclose certain types of capital assets, including lease assets, intangible right-to-use assets, subscription assets, and capital assets held for sale. These enhanced disclosures are intended to provide financial statement users with more decision-useful information about the nature and composition of a government’s capital assets. The requirements of this Statement will take effect for financial statements starting with the fiscal year that ends June 30, 2026.

90 This page intentionally left blank.

REQUIRED SUPPLEMENTARY INFORMATION
91

City of Ceres, California
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual - General Fund and Major Special Revenue Funds For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Property and other taxes 22,212,499 $ 22,212,499 $ 22,484,929 $ 272,430 $ Licenses and permits 325,798 375,798 474,662 98,864
Fines, forfeitures and penalties 230,000 230,000 218,792 (11,208) Charges for services 1,465,345 1,451,725 1,667,809 202,464 Intergovernmental 2,242,982 1,419,800 2,365,883 122,901 Use of money and property 91,917 91,917 436,075 344,158 Other revenues 22,700 22,700 51,685 28,985
Total revenues 26,641,241 25,754,439 27,699,835 1,058,594 EXPENDITURES:

Current:

General government 3,122,347 3,097,751 2,670,404 427,347 Public safety 22,127,605 21,980,619 20,619,891 1,360,728 Engineering and Transportation 113,019 163,749 112,340 51,409 Public works 563,496 565,132 499,959 65,173
Community services 2,524,907 2,216,634 2,073,265 143,369 Economic development - 189,014 251,626 (62,612)
Capital outlay - 986,914.00 1,002,640 (15,726)
Total expenditures 29,199,813 28,451,374 27,230,125 1,969,688

REVENUES OVER (UNDER)
EXPENDITURES (2,558,572) (2,696,935) 469,710 3,028,282
OTHER FINANCING SOURCES (USES):

Proceeds from sales of assets 1,000 1,000 - (1,000)
Transfers in 2,254,925 754,925 802,323 47,398
Transfers out (309,925) (309,925) (308,300) 1,625
Total other financing sources (uses) 446,000 1,946,000 494,023 48,023 Net change in fund balances (2,112,572) (750,935) 963,733 3,076,305 FUND BALANCES:

Beginning of year 7,533,982 7,533,982 - 7,533,982
End of year $ 5,421,410 6,783,047 $ 8,497,715 $ 3,076,305 $ The accompanying notes are an integral part of these basic financial statements.

General Fund
Budgeted Amounts
92

Variance w/Final
Positive
Original Final Actual (Negative)
$ 4,740,000 4,740,000 $ 4,703,385 $ $ (36,615)
- - - -
- - - -
- - - -
- - - -
4,300 4,300 7,160 2,860
- - - -
4,744,300 4,744,300 4,710,545 (33,755)
- - - -
4,704,732 4,704,732 4,890,479 (185,747)
- - - -
- - - -
- - - -
- - - -
- - - -
4,704,732 4,704,732 4,890,479 (185,747)
39,568 39,568 (179,934) (219,502)
- - - -
- - - -
- - - -
- - - -
39,568 39,568 (179,934) (219,502)
241,367 241,367 241,367 -
$ 280,935 280,935 $ 61,433 $ (219,502) $
Measure H
Budgeted Amounts
(continued)
93

City of Ceres, California
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual - General Fund and Major Special Revenue Funds, Continued For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Property and other taxes - $ - $ $ - $ -
Licenses and permits - - - -
Fines, forfeitures and penalties - - - -
Charges for services - - - -
Intergovernmental - - -
Use of money and property 265,000 265,000 252,725 (12,275) Other revenues - - 26,317 26,317
Total revenues 265,000 265,000 279,042 14,042
EXPENDITURES:

Current:

General government - - - -
Public safety - - - -
Engineering and Transportation - - - -
Public works - - - -
Community services 265,002 265,002 263,528 1,474
Economic development - - - -
Capital outlay - - - -
Total expenditures 265,002 265,002 263,528 1,474

REVENUES OVER (UNDER)
EXPENDITURES (2) (2) 15,514 15,516
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out - - - -
Total other financing sources (uses) - - - -
Net change in fund balances (2) (2) 15,514 15,516
FUND BALANCES (DEFICIT):

Beginning of year (2,268,908) (2,268,908) (2,268,908) - End of year $ (2,268,910) (2,268,910) $ (2,253,394) $ 15,516 $ The accompanying notes are an integral part of these basic financial statements.

Budgeted Amounts
Community Center
94

Variance w/Final Variance w/Final
Positive Positive
Original Final Actual (Negative) Original Final Actual (Negative) $ - - $ $ - $ - - $ - $ $ - - $
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - 7,865 7,865 2,482,000 2,482,000 3,751,102 1,269,102 - - - 8,000 - 8,000 264,913 256,913
- - - - - - - -
- - 7,865 7,865 2,490,000 2,490,000 4,016,015 1,526,015 - - - - 7,200 12,200 - 12,200
- - - - - - - -
- - - - 45,000 48,626 34,397 14,229
- - - - - - 969,066 (969,066)
- - - - - - - -
109,640 109,640 - 109,640 - - - -
- - - - 40,000 3,072,272 - 3,072,272
109,640 109,640 - 109,640 92,200 3,133,098 1,003,463 2,129,635 (109,640) (109,640) 7,865 117,505 2,397,800 (643,098) 3,012,552 3,655,650 - - - - - - - -
- - - - - - - -
- - - - - - - -
(109,640) (109,640) 7,865 117,505 2,397,800 (643,098) 3,012,552 3,655,650 1,117,418 1,117,418 1,117,418 - 7,699,289 7,699,289 7,699,289 - $ 1,007,778 1,007,778 $ 1,125,283 $ 117,505 $ $ 7,056,191 10,097,089 $ 10,711,841 $ 3,655,650 $ (concluded)
Measure L
Budgeted Amounts
Home Program Grants Special Revenue Fund
Budgeted Amounts
95

City of Ceres, California
Required Supplementary Information - Schedule of Contributions Last 10 Fiscal Years
2025 2024 2023 2022 2021
Contractually required contribution (actuarially
determined) $ 5,655,899 5,445,085 $ 5,226,127 $ 5,217,995 $ 5,281,755 $ Contributions in relation to the actuarially
determined contributions 5,655,899 5,445,085 5,226,127 5,217,995 5,281,755 Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered-employee payroll $ 12,764,776 12,093,496 $ 11,560,488 $ 13,305,865 $ 14,028,282 $ Contribution as a percentage of covered-employee
payroll 45.02% 44.31% 45.21% 39.22% 37.65%
2020 2019 2018 2017 2016
Contractually required contribution (actuarially
determined) $ 4,265,800 5,036,102 $ 3,831,916 $ 3,554,625 $ 3,393,450 $ Contributions in relation to the actuarially
determined contributions 4,265,800 5,036,102 3,831,916 3,554,625 3,393,450 Contribution deficiency (excess) $ - $ - $ - $ - $ -
Covered-employee payroll $ 11,548,404 12,808,104 $ 12,342,023 $ 13,228,342 $ 13,055,073 $ Contribution as a percentage of covered-employee
payroll 39.32% 36.94% 31.05% 26.87% 25.99%
Notes to Schedule
1) Covered employee payroll represents compensation earnable and pensionable compensation. Only compensation earnable and pensionable compensation that would possibly go into the determination of retirement benefits are included. 96

City of Ceres, California
Required Supplementary Information - Schedule of the City's Proportionate Share of the Net Pension Liability
Last 10 Fiscal Years
2025 2024 2023 2022 2021
Plan's Proportion of the Net Pension Liability/(Asset) 5.5045% 5.5233% 6.1773% 5.2415% 5.7019% Plan's Proportionate Share of the Net Pension
Liability/(Asset) $ 46,388,449 43,405,457 $ 45,591,673 $ 22,416,620 $ 46,489,029 $ Plan's Covered-Employee Payroll $ 12,764,776 12,093,496 $ 11,560,488 $ 13,305,865 $ 14,028,282 $ Plan's Proportionate Share of the Net Pension
Liability/(Asset) as a Percentage of its CoveredEmployee Payroll 358.90% 363.40% 394.37% 168.50% 331.40% Plan's Proportionate Share of the Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liability 78.50% 76.00% 77.40% 86.50% 73.00% Plan's Proportionate Share of Aggregate Employer
Contribution $ 5,655,899 5,445,085 $ 5,226,127 $ 5,217,995 $ 5,281,755 $ 2020 2019 2018 2017 2016
Plan's Proportion of the Net Pension Liability/(Asset) 5.5842% 5.1682% 5.5554% 5.8514% 5.6629% Plan's Proportionate Share of the Net Pension
Liability/(Asset) $ 33,371,414 36,868,449 $ 36,959,387 $ 43,142,269 $ 16,714,375 $ Plan's Covered-Employee Payroll $ 11,548,404 12,808,104 $ 12,342,023 $ 13,228,342 $ 13,055,073 $ Plan's Proportionate Share of the Net Pension
Liability/(Asset) as a Percentage of its CoveredEmployee Payroll 287.90% 288.97% 299.46% 326.14% 128.03% Plan's Proportionate Share of the Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liability 77.00% 76.70% 75.00% 70.60% 86.10% Plan's Proportionate Share of Aggregate Employer
Contribution $ 4,265,800 5,036,102 $ 3,831,916 $ 3,554,625 $ 3,393,450 $ Notes to Schedule
1) Covered employee payroll represents compensation earnable and pensionable compensation. Only compensation earnable and pensionable compensation that would possibly go into the determination of retirement benefits are included. 97

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98

COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES
99

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100

Fund
Street Expansion
CDBG Grants
Street Tree
Storm Drain Benefit Districts
Brown Annex - Public Safety Mitigation
Eastgate Street & Landscape Benefit District
AB939 Source Reduction/Recycle
Neighborhood Park Fees
BEGIN Grant
Program Income
State Gas Tax
SLESF Grant
Abandoned Vehicle Abatement
Seized Property
Downtown Revitalization
Street-Light and Landscape District
Traffic Offender
State Traffic Safety
(continued)
Fund established for the Program Income from the State Housing & Community Development Building Equity & Growth in Neighborhoods grant.

Accounts for revenues and expenditures associated with State funds provided as a match for the COPS Universal Hiring Grant.

To account for activities of the Police Traffic Unit, including towing/impound fees and State grants utilized for Unit expenditures.

This fund contains revenues obtained from the sale of forfeited property in drug related cases. Funds are used for law enforcement equipment.

Revenues for this fund come from assessments to downtown businesses. These funds are used to improve the downtown area with such programs as façade and streetscape This fund is used to account for financial activity relating to the City-wide 1972 Act Landscaping and Lighting District. Revenues include assessment to the property owners within the district and expenditures related to the maintenance and upkeep of the street lights, median landscaping, and landscaping adjacent to sound walls.

NON-MAJOR GOVERNMENTAL FUNDS
Description
To account for public safety mitigation fees collected for the Brown Annexation area; to provide funding for police salaries.

To account for street and landscape improvements made in the Eastgate subdivisions, funded by fees collected on property developed within the benefited area.

This fund is to account for funds received to be used to inform citizens of recycling requirements.

Fees collected from each new dwelling constructed, to be used for planning, acquisition, improvement, and expansion of neighborhood parks.

Fees collected from developers to be used by the City for planting trees along City streets and roads in new subdivisions.

These benefit district funds are used to account for developer fees used for the construction of the storm drain systems in the specific districts of WestPointe, Eastgate, Mitchell Road, and North East.

Fund established for State Housing & Community Development Building Equity & Growth in Neighborhoods grant to be utilized for deferred-payment second mortgage loans for down payment assistance to lower to moderate-income first-time homebuyers of new homes in projects with affordability enhanced by local regulatory incentives or barrier reductions.

Accounts for fees collected from developers to be used to widen streets due to the traffic impact of their projects.

Accounts for activities related to housing and the related CDBG funding.

This fund contains revenues obtained from the sale of forfeited vehicle. Funds are used for law enforcement supplies and equipment.

The City's share of the State gas tax allocations are recorded in this fund. These funds can be used for any street purpose. The City charges the street department to the gas tax This fund is used to account for fines as a result of arrests by City officers. These funds can only be used for traffic control devices and maintenance of equipment and supplies for traffic enforcement.
101

Fund
Used Oil Recycling Grant
Department of Conservation
CMAQ
Community Facilities District
Fire Hydrant Benefit District
Transportation Development Act
Local Law Enforcement Block Grant
Public Facilities Fees
Daniel Whitmore House
River Bluff Regional Park
Ceres Community Foundation Accounts for activities related to the Ceres Community Foundation.

Clinton Whitmore Mansion
Road Maintenance & Rehab
SB2 Planning Grants Program Fund
SB 1383
CARES Act
(concluded)
In September 2016 the State set methane emission reduction targets for California in Senate Bill 1383. The California Department of Resources, Recycling and Recovery (CalRecycle) worked to develop regulations to achieve the goals of SB1383. These new regulations were finalized CalRecycle and took effect in January 2023. The SB 1383 fund is a special revenue fund. This fund will track grant funds from CalRecycle and expenditures associated with complying with the new regulations.

Senate Bill 1, the Road and Repair and Accountability Act of 2017. Funds are used to continue essential road maitenance and rehabilitation projects, safety improvements, repairing and replacing aging bridges, and increasing access and mobility options to the traveling public.

This fund is to account for grant funds received to be used to inform citizens of oil recycling opportunities and procedures.

The City owns the Daniel Whitmore Home. It is the oldest house in the City and is now a museum. These funds are used for museum expenses and improvements.

NON-MAJOR GOVERNMENTAL FUNDS, Continued
Description
SB2 Planning Grants Program Funds through the State Department of Housing and Community Development (HCD) is designed to provide technical planning assistance monies related to the preparation, adoption, and implementation of plans that streamline housing approvals and lead to the acceleration of housing production.

The Corona Virus Aid, Relief, and Economic Security (CARES) Act was passed by Congress and signed into law on March 27, 2020. It established a $150 billion Coronavirus Relief Fund to provide State, Local, and Tribal governments impacted by the virus outbreak. The U.S. Department of Treasury has made payments from the Fund to States and eligible units of local governments. The payment made to the city are used to cover expense that are necessary expenditures incurred due to the virus and incurred from March 1, 2020 to December 30, 2020.

The City owns the Clinton Whitmore Mansion. These funds are used for operating expenses and improvements.

To account for construction of Ceres River Bluff Regional Park and associated State grant revenues utilized for project.

State Department of Conservation grant utilized for promotion of recycling, reuse, and other green initiatives within the City.

To account for the special property taxes levied for the provision of public services (Police, Fire, and Parks).

These funds are collected from developers in the district for the installation of additional fire hydrants because the existing hydrant spacing does not meet City standards.

This fund is used to account for local transportation funds restricted to transit, street, pedestrian, and bike purposes.

The City's receipt and expenditures of the federal grants are recorded in these funds.

Expenditures are made to assist in projects that reduce crime and improve public safety.

These fees are received from developers to increase space and improve to City buildings, specifically, Public Safety, Planning, Public Works, and City Hall to mitigate the growth of the City.

This fund is used to account for Federal funds used for transit and street-related 102

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103

City of Ceres, California
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
Storm
Drain
Street CDBG Street Benefit Brown
Expansion Grants Tree Districts Annex
ASSETS
Cash and investments $ 393,060 3,304,441 $ 105,195 $ 998,289 $ 51,136 $ Receivables:

Taxes - - - -
Interest - - - - -
Intergovernmental 73,296 - - - -
Loans receivable - 442,232 - - -
Other receivable - - - - -
Total assets $ 908,588 3,304,441 $ 105,195 $ 998,289 $ 51,136 $

LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ 40 6,834 $ - $ - $ - $ Due to other funds - - - -
Total liabilities 40 6,834 - - -
Deferred inflows: unavailable revenue 442,232 - - - -
Total liabilities and deferred inflows 442,272 6,834 - - - Fund Balances:

Nonspendable:

Capital projects - - - - -
Restricted 466,316 - - - -
Committed - - - - -
Assigned, reported in:

Special revenue funds 3,297,607 - 105,195 998,289 51,136 Unassigned (deficit) - - - - -
Total fund balances 466,316 3,297,607 105,195 998,289 51,136 Total liabilities and fund balances $ 908,588 3,304,441 $ 105,195 $ 998,289 $ 51,136 $ 104

Eastgate
Street Program
Benefit Neighborhood BEGIN Income State
District AB 939 Park Fees Grant BEGIN Gas Tax SLESF
$ 52,273 114,608 $ 1,298,042 $ 486,171 $ 237,800 $ - $ 148,780 $ - - - - - - -
- - - - - - -
- - - - - 119,918 -
- - - 344,050 - - -
- - - - - - -
$ 52,273 114,608 $ 1,298,042 $ 830,221 $ 237,800 $ 119,918 $ 148,780 $ $ - - $ 7,444 $ - $ - $ 6,566 $ - $
- - - - - 567,571 -
- - 7,444 - - 574,137 -
- - - 344,050 - - -
- - 7,444 344,050 - 574,137 -
- - - - - - -
- - - - 237,800 - 148,780
- - - - - - -
52,273 114,608 1,290,598 486,171 - - -
- - - - - (454,219) -
52,273 114,608 1,290,598 486,171 237,800 (454,219) 148,780 $ 52,273 114,608 $ 1,298,042 $ 830,221 $ 237,800 $ 119,918 $ 148,780 $ (continued)
105

City of Ceres, California
Combining Balance Sheet
Nonmajor Special Revenue Funds, Continued
June 30, 2025
Abandoned Street LightVehicle Seized Downtown Landscape Traffic Abatement Property Revitalization District Offender
ASSETS
Cash and investments $ 51,248 65,209 $ 41,211 $ - $ 79,703 $ Receivables:

Taxes - - - - -
Interest - - - - -
Intergovernmental 28,045 - - - -
Loans receivable - - - - -
Other receivable - - - 5,037 -
Total assets $ 51,248 93,254 $ 41,211 $ 5,037 $ 79,703 $

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ 27,169 - $ 5,460 $ 10,418 $ 897 $ Due to other funds - - - 567,197 -
Total liabilities 27,169 - 5,460 577,615 897
Deferred inflows: Grants - - - - -
Total liabilities and deferred inflows 27,169 - 5,460 577,615 897 Fund Balances:

Nonspendable:

Capital projects - - -
Restricted - - - - -
Committed - - - - -
Assigned, reported in:

Special revenue funds 93,254 24,079 35,751 - 78,806
Unassigned (deficit) - - - (572,578) -
Total fund balances 24,079 93,254 35,751 (572,578) 78,806 Total liabilities and fund balances $ 51,248 93,254 $ 41,211 $ 5,037 $ 79,703 $ 106

Dept of Community Fire Hydrant
Traffic Used Oil Conservation Facilities Benefit
Safety Grants Grant CMAQ District District
$ 25,674 104,144 $ 53,504 $ 1,306 $ 23,812 $ 129,636 $
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- 14,159 - - 13,642 -
$ 25,674 118,303 $ 53,504 $ 1,306 $ 37,454 $ 129,636 $
$ - - $ - $ 5,726 $ - $ - $
- - - 973,466 - -
- - - 979,192 - -
- - - - - -
- - - 979,192 - -
- - - - - -
- - 53,504 - - 129,636
- - - - 37,454 -
25,674 118,303 - - - -
- - - (977,886) - -
25,674 118,303 53,504 (977,886) 37,454 129,636
$ 25,674 118,303 $ 53,504 $ 1,306 $ 37,454 $ 129,636 $
(continued)
107

City of Ceres, California
Combining Balance Sheet
Nonmajor Governmental Funds, Continued
June 30, 2025
Transportation Public Daniel RiverBluff
Development Facilities Whitmore Regional
Act LLEBG Fees House Park
ASSETS
Cash and investments $ 34,997 - $ 2,452,260 $ - $ 30,948 $ Receivables:

Taxes - - - - -
Interest - - - - -
Intergovernmental - - - - -
Loans receivable - - - - -
Other receivable - - - - -
Total assets $ 34,997 - $ 2,452,260 $ - $ 30,948 $

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable - $ - $ 45,663 $ 64 $ - $
Deposits payable - - - - -
Due to other funds 220,902 - - 22,762 -
Total liabilities - 220,902 45,663 22,826 -
Deferred inflows: unavailable revenue - - - - -
Total liabilities and deferred inflows - 220,902 45,663 22,826 - Fund Balances:

Restricted - - - - -
Committed - - - - -
Assigned, reported in:

Special revenue funds - 34,997 2,406,597 - 30,948
Unassigned (deficit) - (220,902) - (22,826) -
Total fund balances 34,997 (220,902) 2,406,597 (22,826) 30,948 Total liabilities and fund balances $ 34,997 - $ 2,452,260 $ - $ 30,948 $ 108

Ceres Clinton Road SB2 Planning SB 1383 Local
Community Whitmore Maintenance Grants Program Assistance Foundation Mansion and Rehab Fund Grant CARES Act Totals $ - 146,264 $ 3,718,784 $ - $ 48,593 $ 1,235,594 $ 15,432,682 $ - - - - - - -
- - - - - - -
- - 114,882 - - - 336,141
- - - - - - 786,282
- - - - - - 32,838
$ - 146,264 $ 3,833,666 $ - $ 48,593 $ 1,235,594 $ 16,587,943 $ $ 41 959 $ 742 $ - $ - $ 503,702 $ 621,725 $
- - - - - - -
161,716 - - 11,590 - - 2,525,204
161,757 959 742 11,590 - 503,702 3,146,929
- - - - - - 786,282
161,757 959 742 11,590 - 503,702 3,933,211
145,305 - 3,832,924 - 48,593 - 5,062,858
- - - - - - 37,454
- - - - - 731,892 9,976,178
(161,757) - - (11,590) - - (2,421,758)
(161,757) 145,305 3,832,924 (11,590) 48,593 731,892 12,654,732 $ - 146,264 $ 3,833,666 $ - $ 48,593 $ 1,235,594 $ 16,587,943 $ (concluded)
109

City of Ceres, California
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
Storm
Drain
Street CDBG Street Benefit Brown
Expansion Grants Tree Districts Annex
REVENUES:

Property and other taxes $ - - $ - $ 29,031 $ - $
Licenses and permits - - - - -
Fines, forfeitures and penalties - - - - -
Charges for services - - - - -
Intergovernmental 368,167 73,681 - - -
Use of money and property 84,846 11,210 2,842 26,605 1,382 Other revenues - - - - -
Total revenues 84,891 453,013 2,842 55,636 1,382
EXPENDITURES:

Current:

General government 2,680 - - - -
Public safety - - - - -
Engineering and Transportation 12,791 - - 6,459 -
Public works - - - - -
Community services - - - - -
Economic development 40 - - - -
Capital outlay 24,000 3,453 - - -
Total expenditures 24,040 18,924 - 6,459 -

REVENUES OVER (UNDER)
EXPENDITURES 60,851 434,089 2,842 49,177 1,382
OTHER FINANCING SOURCES (USES):

Transfers in - - - - -
Transfers out - - - - -
Total other financing
sources and uses - - - - -

REVENUES AND OTHER FINANCING

SOURCES OVER (UNDER)

EXPENDITURES AND OTHER
FINANCING (USES) 60,851 434,089 2,842 49,177 1,382
FUND BALANCES (DEFICIT):

Beginning of year 2,863,518.00 405,465 102,353 949,112 49,754 End of year $ 466,316 3,297,607 $ 105,195 $ 998,289 $ 51,136 $ 110

Eastgate
Street Program
Benefit Neighborhood BEGIN Income State
District AB 939 Park Fees Grant BEGIN Gas Tax SLESF
$ - - $ - $ - $ - $ - $ - $
- - - - - - -
- - - - - - -
- - 36,672 - - - -
- - - - - 1,382,857 194,663
2,175 3,097 35,470 13,138 5,226 5,213 8,707
- - - - - 9,951 -
2,175 3,097 72,142 13,138 5,226 1,398,021 203,370
- - 445 - - - -
- - - - - - 194,663
- 10,039 - - - 109 -
60,565 - - - 1,324,119 -
- - - - - - -
- - - - - - -
- - 168,862 - - - -
70,604 - 169,307 - - 1,324,228 194,663
(68,429) 3,097 (97,165) 13,138 5,226 73,793 8,707
- - - - - - -
- - - - - -
- - - - - - -
(68,429) 3,097 (97,165) 13,138 5,226 73,793 8,707
120,702 111,511 1,387,763 473,033 232,574 (528,012) 140,073 $ 52,273 114,608 $ 1,290,598 $ 486,171 $ 237,800 $ (454,219) $ 148,780 $ 111

City of Ceres, California
Combining Statement of Revenues, Expenditures and Changes in Fund Balances, Continued Nonmajor Special Revenue Funds
For the year ended June 30, 2025
Abandoned Street LightVehicle Seized Downtown Landscape Traffic Abatement Property Revitalization District Offender
REVENUES:

Property and other taxes $ - - $ - $ 523,649 $ - $
Licenses and permits - - - - -
Fines, forfeitures and penalties - - - - -
Charges for services - - 4,531 - 59,110
Intergovernmental 67,248 - - - 7,880
Use of money and property 2,511 1,176 1,255 - -
Other revenues - - - - -
Total revenues 1,176 69,759 5,786 523,649 66,990
EXPENDITURES:

Current:

General government - - - - -
Public safety - 47,971 - 49,728 -
Engineering and Transportation - - - - -
Public works - - - 228,198 -
Community services - - - 404,798 -
Economic development - - 26,875 - -
Capital outlay - - - - -
Total expenditures - 47,971 26,875 632,996 49,728

REVENUES OVER (UNDER)
EXPENDITURES 1,176 21,788 (21,089) (109,347) 17,262
OTHER FINANCING SOURCES (USES):

Transfers in - - - - -
Transfers out - - - - -
Total other financing
sources and uses - - - - -

REVENUES AND OTHER FINANCING

SOURCES OVER (UNDER)

EXPENDITURES AND OTHER
FINANCING (USES) 1,176 21,788 (21,089) (109,347) 17,262 FUND BALANCES (DEFICIT):

Beginning of year 71,466 22,903 56,840 (463,231) 61,544.00 End of year $ 24,079 93,254 $ 35,751 $ (572,578) $ 78,806 $ 112

Dept of Community Fire Hydrant
Traffic Used Oil Conservation Facilities Benefit
Safety Grants Grant CMAQ District District
$ - - $ - $ - $ 816,408 $ 497 $
- - - - - -
- 61,363 - - - -
- - - - - -
- - 12,621 746,763 - -
694 2,375 1,478 - 10,098 -
- - - - - -
694 63,738 14,099 746,763 826,506 497
- - - - - -
- - - - - -
- - - - - -
- - 11,690 - - 4,741
- - - - - -
- - - - - -
- - - - 179,143 -
- - 11,690 179,143 4,741 -
694 63,738 2,409 567,620 821,765 497
- - - - - -
- - - (798,023) - -
- - - - (798,023) -
694 63,738 2,409 567,620 23,742 497
24,980.00 51,095 54,565 13,712.00 129,139 (1,545,506)
$ 25,674 118,303 $ 53,504 $ (977,886) $ 37,454 $ 129,636 $ 113

City of Ceres, California
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds, Continued
For the year ended June 30, 2025
Transportation Public Daniel RiverBluff
Development Facilities Whitmore Regional
Act LLEBG Fees House Park
REVENUES:

Property and other taxes $ - - $ - $ - $ - $
Fines, forfeitures and penalties - - - - -
Charges for services - - 29,031 - 743
Intergovernmental - 17,262 - - -
Use of money and property - - 71,720 - 822
Other revenues - - - - -
Total revenues 17,262 - 100,751 - 1,565
EXPENDITURES:

Current:

General government - - - - -
Public safety - 29,964 - 50,801 -
Engineering and Transportation - - - - -
Public works - 19,326 284,224 - -
Community services - - 21,983 - -
Economic development - - - - -
Capital outlay - - 44,268 - -
Total expenditures 29,964 19,326 379,293 21,983 -

REVENUES OVER (UNDER)
EXPENDITURES (12,702) (19,326) (278,542) (21,983) 1,565 OTHER FINANCING SOURCES (USES):

Transfers in - - - - -
Transfers out - - - - -
Total other financing
sources and uses - - - - -

REVENUES AND OTHER FINANCING

SOURCES OVER (UNDER)

EXPENDITURES AND OTHER
FINANCING (USES) (12,702) (19,326) (278,542) (21,983) 1,565 FUND BALANCES (DEFICIT):

Beginning of year (201,576) 47,699 2,685,139 (843) 29,383 End of year $ 34,997 (220,902) $ 2,406,597 $ (22,826) $ 30,948 $ 114

Ceres Clinton Road SB2 Planning SB 1383 Local
Community Whitmore Maintenance Grants Program Assistance Foundation Mansion and Rehab Fund Grant CARES Act Totals $ - - $ - $ - $ - $ - $ 1,369,585 $
- - - - - - 61,363
- - - - - - 130,087
- - 1,362,433 - - 10,504 4,244,079
- 3,953 89,512 - 1,878 - 387,383
- - - - - - 9,951
- 3,953 1,451,945 - 1,878 10,504 6,202,448
- - - 29,450 - 720,917 753,492
- - - - - 1,554,232 1,927,359
- - - - - 27,357 56,755
- - 235,291 - 73,299 - 2,241,453
13,830 - - - - 623,080 1,063,691
- - - - - 869 27,784
- - - - 1,087,737 1,507,463
13,830 - 235,291 29,450 73,299 4,014,192 7,577,997
(13,830) 3,953 1,216,654 (29,450) (71,421) (4,003,688) (1,375,549) - - - - - - -
- - - - - (798,023) -
- - - - - - (798,023)
(13,830) 3,953 1,216,654 (29,450) (71,421) (4,003,688) (2,173,572) 141,352 (147,927) 2,616,270.00 120,014 17,860 4,735,580 14,828,304 $ (161,757) 145,305 $ 3,832,924 $ (11,590) $ 48,593 $ 731,892 $ 12,654,732 $ 115

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Street Expansion Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ 78,000 78,000 $ 368,167 $ 290,167
Use of money and property 5,000 5,000 84,846 79,846
Total revenues 83,000 83,000 453,013 370,013
EXPENDITURES:

Current:

General government 8,999 8,999 2,680 6,319
Engineering and Transportation - 4,768 12,791 (8,023)
Capital outlay - - 3,453 (3,453)
Total expenditures 13,767 8,999 18,924 (5,157)

REVENUES OVER (UNDER)
EXPENDITURES 69,233 74,001 434,089 364,856
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out - - - -
Total other financing sources (uses) - - - -
Net change in fund balances 69,233 74,001 434,089 364,856 FUND BALANCES:

Beginning of year 2,863,518 2,863,518 2,863,518 -
End of year $ 2,932,751 2,937,519 $ 3,297,607 $ 364,856 $ Budgeted Amounts
116

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual CDBG Grants Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ 220,711 220,711 $ 73,681 $ $ (147,030) Use of money and property 1,000 1,000 11,210 10,210
Total revenues 221,711 221,711 84,891 (136,820)
EXPENDITURES:

Current:

Economic development 301,950 301,950 40 301,910
Capital outlay 218,623 218,623 24,000 194,623
Total expenditures 520,573 520,573 24,040 496,533

REVENUES OVER (UNDER)
EXPENDITURES (298,862) (298,862) 60,851 359,713
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out - - - -
Total other financing sources (uses) - - - -
Net change in fund balances (298,862) (298,862) 60,851 359,713 FUND BALANCES (DEFICIT):

Beginning of year 405,465 405,465 405,465 -
End of year $ 106,603 106,603 $ 466,316 $ 359,713 $
Budgeted Amounts
117

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Street Tree Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Use of money and property $ 860 860 $ 2,842 $ $ 1,982
Total revenues 860 860 2,842 1,982
EXPENDITURES:

Current:

Community services - - - -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 860 860 2,842 1,982
Net change in fund balances 860 860 2,842 1,982
FUND BALANCES:

Beginning of year 102,353 102,353 102,353 -
End of year $ 103,213 103,213 $ 105,195 $ 1,982 $
Budgeted Amounts
118

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Storm Drain Benefit Districts Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Property and other taxes $ 10,000 10,000 $ 29,031 $ $ 19,031 Use of money and property 2,159 2,159 26,605 24,446
Total revenues 12,159 12,159 55,636 43,477
EXPENDITURES:

Engineering and Transportation - 11,107 6,459 4,648
Total expenditures 11,107 - 6,459 4,648

REVENUES OVER (UNDER)
EXPENDITURES 1,052 12,159 49,177 48,125
Net change in fund balances 1,052 12,159 49,177 48,125
FUND BALANCES:

Beginning of year 949,112 949,112 949,112 -
End of year $ 950,164 961,271 $ 998,289 $ 48,125 $
Budgeted Amounts
119

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Brown Annex Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Property and other taxes - $ - $ $ - $ -
Use of money and property 50 50 1,382 1,332
Total revenues 50 50 1,382 1,332
EXPENDITURES:

Current:

General government - - - -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 50 50 1,382 1,332
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out - -
Total other financing sources (uses) - - - -
Net change in fund balances 50 50 1,382 1,332
FUND BALANCES:

Beginning of year 49,754 49,754 49,754 -
End of year $ 49,804 49,804 $ 51,136 $ 1,332 $
Budgeted Amounts
120

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Eastgate Street Benefit District Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Property and other taxes - $ - $ - $ - $
Use of money and property 250 250 3,097 2,847
Total revenues 250 250 3,097 2,847
EXPENDITURES:

Current:

Engineering and Transportation - - - -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 250 250 3,097 2,847
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out - - - -
Total other financing sources (uses) - - - -
Net change in fund balances 250 250 3,097 2,847
Residual equity transfer in - - - -
FUND BALANCES:

Beginning of year 111,511 111,511 111,511 -
End of year $ 111,761 111,761 $ 114,608 $ 2,847 $
Budgeted Amounts
121

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual AB 939 Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ - - $ - $ $ -
Use of money and property 2,182 2,182 2,175 (7)
Total revenues 2,182 2,182 2,175 (7)
EXPENDITURES:

Current:

Engineering and Transportation 18,902 18,902 10,039 8,863 Public works 57,219 57,219 60,565 (3,346)
Total expenditures 76,121 76,121 70,604 5,517

REVENUES OVER (UNDER)
EXPENDITURES (73,939) (73,939) (68,429) 5,510
Net change in fund balances (73,939) (73,939) (68,429) 5,510 FUND BALANCES:

Beginning of year 120,702 120,702 120,702 -
End of year $ 46,763 46,763 $ 52,273 $ 5,510 $
Budgeted Amounts
122

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Neighborhood Park Fees Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Charges for services $ 129,122 129,122 $ 36,672 $ $ (92,450) Use of money and property 1,500 1,500 35,470 33,970
Total revenues 130,622 130,622 72,142 (58,480)
EXPENDITURES:

Current:

General government 714 714 445 269
Engineering and Transportation - 4 - 4
Capital outlay 104,701 168,862 (64,161) -
Total expenditures 105,419 714 169,307 (63,888)

REVENUES OVER (UNDER)
EXPENDITURES 25,203 129,908 (97,165) (122,368)
OTHER FINANCING SOURCES (USES):

Transfers in - -
Transfers out - - - -
Total other financing sources (uses) - - - -
Net change in fund balances 25,203 129,908 (97,165) (122,368) FUND BALANCES:

Beginning of year 1,387,763 1,387,763 1,387,763 -
End of year $ 1,412,966 1,517,671 $ 1,290,598 $ (122,368) $ Budgeted Amounts
123

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual BEGIN Grant Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ - - $ - $ - $
Use of money and property 500 500 13,138 12,638
Total revenues 500 500 13,138 12,638
EXPENDITURES:

Current:

Economic development - - - -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 500 500 13,138 12,638
Net change in fund balances 500 500 13,138 12,638
FUND BALANCES:

Beginning of year 473,033 473,033 473,033 -
End of year $ 473,533 473,533 $ 486,171 $ 12,638 $
Budgeted Amounts
124

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Program Income BEGIN Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Use of money and property 1,560 1,560 5,226 3,666
Total revenues 1,560 1,560 5,226 3,666
EXPENDITURES:

Current:

Community services -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 1,560 1,560 5,226 3,666
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out - - -
Total other financing sources (uses) - - - -
Net change in fund balances 1,560 1,560 5,226 3,666
FUND BALANCES:

Beginning of year 232,574 232,574 - 232,574
End of year $ 234,134 234,134 $ 237,800 $ 3,666 $
Budgeted Amounts
125

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual State Gas Tax Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ 1,341,872 1,341,872 $ 1,382,857 $ 40,985 $ Use of money and property - - 5,213 5,213
Other revenues 1,500 1,500 9,951 8,451
Total revenues 1,343,372 1,343,372 1,398,021 54,649
EXPENDITURES:

Current:

Engineering and Transportation - - 109 (109)
Public works 1,500,725 1,504,162 1,323,965 180,197
Debt service:

Principal - - - -
Total expenditures 1,504,162 1,500,725 1,324,074 180,088

REVENUES OVER (UNDER)
EXPENDITURES (160,790) (157,353) 73,947 234,737
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Total other financing sources (uses) - - - -
Net change in fund balances (160,790) (157,353) 73,947 234,737 FUND BALANCES (DEFICIT):

Beginning of year (528,012) (528,012) (528,012) -
End of year $ (688,802) (685,365) $ (454,065) $ 234,737 $ Budgeted Amounts
126

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual SLESF Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ 100,000 100,000 $ 194,663 $ $ 94,663 Total revenues 100,000 100,000 203,370 103,370
EXPENDITURES:

Current:

Public safety - - 194,663 (194,663)
Total expenditures - - 194,663 (194,663)

REVENUES OVER (UNDER)
EXPENDITURES 100,000 100,000 8,707 (91,293)
OTHER FINANCING SOURCES (USES):

Transfers out (100,000) (100,000) - 100,000
Total other financing sources (uses) (100,000) (100,000) - 100,000 Net change in fund balances - - 8,707 8,707
FUND BALANCES:

Beginning of year 140,073 140,073 140,073 -
End of year $ 140,073 140,073 $ 148,780 $ 8,707 $
Budgeted Amounts
127

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Abandoned Vehicle Abatement Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ 34,000 34,000 $ 67,248 $ $ 33,248
Use of money and property 645 645 2,511 1,866
Total revenues 34,645 34,645 69,759 35,114
EXPENDITURES:

Current:

Public safety 37,315 37,137 47,971 (10,656)
Total expenditures 37,315 37,137 47,971 (10,656)

REVENUES OVER (UNDER)
EXPENDITURES (2,670) (2,492) 21,788 24,458
Net change in fund balances (2,670) (2,492) 21,788 24,458 FUND BALANCES (DEFICIT):

Beginning of year 71,466 71,466 71,466 -
End of year $ 68,796 68,974 $ 93,254 $ 24,458 $
Budgeted Amounts
128

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Seized Property Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Use of money and property $ 200 200 $ 1,176 $ 976 $
Other revenues - - - -
Total revenues 200 200 1,176 976
EXPENDITURES:

Current:

Public safety - - -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 200 200 1,176 976
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out - - -
Total other financing sources (uses) - - - -
Net change in fund balances 200 200 1,176 976
FUND BALANCES:

Beginning of year 22,903 22,903 22,903 -
End of year $ 23,103 23,103 $ 24,079 $ 976 $
Budgeted Amounts
129

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Downtown Revitalization Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Charges for services $ 7,800 7,800 $ 4,531 $ (3,269)
Use of money and property 500 500 1,255 755
Total revenues 8,300 8,300 5,786 (2,514)
EXPENDITURES:

Current:

Economic development 29,922 26,281 26,875 3,047
Total expenditures 29,922 26,281 26,875 3,047

REVENUES OVER (UNDER)
EXPENDITURES (21,622) (17,981) (21,089) 533
OTHER FINANCING SOURCES (USES):

Transfers out - -
Total other financing sources (uses) - - - -
Net change in fund balances (21,622) (17,981) (21,089) 533 FUND BALANCES:

Beginning of year 56,840 56,840 56,840 -
End of year $ 35,218 38,859 $ 35,751 $ 533 $
Budgeted Amounts
130

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Street-Light and Landscape District Special Revenue Fund For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Property and other taxes $ 472,000 472,000 $ 523,649 $ $ 51,649 Total revenues 472,000 472,000 523,649 51,649
EXPENDITURES:

Current:

Public works 248,327 248,579 228,198 20,381
Community services 796,863 794,724 404,798 392,065
Total expenditures 1,045,442 1,043,051 632,996 412,446

REVENUES OVER (UNDER)
EXPENDITURES (573,442) (571,051) (109,347) 464,095
Net change in fund balances (573,442) (571,051) (109,347) 464,095 FUND BALANCES (DEFICIT):

Beginning of year (463,231) (463,231) (463,231) -
End of year $ (1,036,673) (1,034,282) $ (572,578) $ 464,095 $ Budgeted Amounts
131

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Traffic Offender Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Charges for services 55,000 $ 55,000 $ 59,110 $ 4,110 $ Intergovernmental 60,000 - 7,880 (52,120)
Total revenues 115,000 55,000 66,990 (48,010)
EXPENDITURES:

Current:

Public safety 109,759 49,759 49,728 60,031
Total expenditures 109,759 49,759 49,728 60,031

REVENUES OVER (UNDER)
EXPENDITURES 5,241 5,241 17,262 12,021
Net change in fund balances 5,241 5,241 17,262 12,021
FUND BALANCES (DEFICIT):

Beginning of year 61,544 61,544 61,544 -
End of year $ 66,785 66,785 $ 78,806 $ 12,021 $
Budgeted Amounts
132

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Traffic Safety Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Fines and forfeitures $ 52,000 52,000 $ 61,363 $ $ 9,363 Use of money and property - - 2,375 2,375
Total revenues 52,000 52,000 63,738 11,738
EXPENDITURES:

Current:

Public safety - - - -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 52,000 52,000 63,738 11,738
Net change in fund balances 52,000 52,000 63,738 11,738 FUND BALANCES (DEFICIT):

Beginning of year 54,565 54,565 54,565 -
End of year $ 106,565 106,565 $ 118,303 $ 11,738 $
Budgeted Amounts
133

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Used Oil Grants Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ - - $ - $ $ -
Use of money and property 208 208 694 486
Total revenues 208 208 694 486
EXPENDITURES:

Current:

Engineering and Transportation - -
Public works - - - -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 208 208 694 486
Net change in fund balances 208 208 694 486
FUND BALANCES:

Beginning of year 24,980 24,980 24,980 -
End of year $ 25,188 25,188 $ 25,674 $ 486 $
Budgeted Amounts
134

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Department of Conservation Grant Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ 12,285 12,285 $ 12,621 $ $ 336
Use of money and property 617 617 1,478 861
Total revenues 12,902 12,902 14,099 1,197
EXPENDITURES:

Current:

Public works 12,285 12,285 11,690 595
Total expenditures 12,285 12,285 11,690 595

REVENUES OVER (UNDER)
EXPENDITURES 617 617 2,409 1,792
Net change in fund balances 617 617 2,409 1,792
FUND BALANCES:

Beginning of year 51,095 51,095 51,095 -
End of year $ 51,712 51,712 $ 53,504 $ 1,792 $
Budgeted Amounts
135

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual CMAQ Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ 575,000 575,000 $ 746,763 $ $ 171,763 Total revenues 575,000 575,000 746,763 171,763
EXPENDITURES:

Current:

Engineering and Transportation - - - -
Capital outlay 2,722,311 - 179,143 2,543,168
Total expenditures 2,722,311 - 179,143 2,543,168

REVENUES OVER (UNDER)
EXPENDITURES (2,147,311) 575,000 567,620 2,714,931
Net change in fund balances (2,147,311) 575,000 567,620 2,714,931 FUND BALANCES (DEFICIT):

Beginning of year (1,545,506) (1,545,506) (1,545,506) - End of year $ (3,692,817) (970,506) $ (977,886) $ 2,714,931 $ Budgeted Amounts
136

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Community Facilities District Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Property and other taxes $ 749,000 749,000 $ 816,408 $ $ 67,408 Use of money and property 1,308 1,308 10,098 8,790
Total revenues 750,308 750,308 826,506 76,198
EXPENDITURES:

Current:

Public works 8,500 8,500 4,741 3,759
Total expenditures 8,500 8,500 4,741 3,759

REVENUES OVER (UNDER)
EXPENDITURES 741,808 741,808 821,765 79,957
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out (749,000) (749,000) (798,023) (49,023)
Total other financing sources (uses) (749,000) (749,000) (798,023) (49,023) Net change in fund balances (7,192) (7,192) 23,742 30,934 FUND BALANCES:

Beginning of year 13,712 13,712 13,712 -
End of year $ 6,520 6,520 $ 37,454 $ 30,934 $
Budgeted Amounts
137

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Fire Hydrant Benefit District Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Property and other taxes - $ - $ 497 $ 497 $
Total revenues - - 497 497
EXPENDITURES:

Capital outlay - -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES - - 497 497
Net change in fund balances - - 497 497
FUND BALANCES:

Beginning of year 129,139 129,139 - 129,139
End of year $ 129,139 129,139 $ 129,636 $ 497 $
Budgeted Amounts
138

City of Ceres, California
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual Transportation Development Act Special Revenue Fund
For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Intergovernmental $ - - $ - $ $ -
Use of money and property - - - -
Total revenues - - - -
EXPENDITURES:

Current:

Engineering and Transportation - - - -
Capital outlay 33,327 - - 33,327
Total expenditures 33,327 - 19,326 14,001

REVENUES OVER (UNDER)
EXPENDITURES (33,327) - (19,326) 14,001
Net change in fund balances (33,327) - (19,326) 14,001
FUND BALANCES (DEFICIT):

Beginning of year (201,576) (201,576) (201,576) -
End of year $ (234,903) (201,576) $ (220,902) $ 14,001 $ Budgeted Amounts
139