Annual Comprehensive Financial Report (ACFR) FY 23-24.pdf

City of Chino, California

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FISCAL YEAR ENDED JUNE 30, 2024
“From Heritage to Horizon”

CITY OF CHINO,

CALIFORNIA

City of Chino

CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2024

Prepared by the Finance Department
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City of Chino
Annual Comprehensive Financial Report
For the year ended June 30, 2024

Table of Contents

Page

INTRODUCTORY SECTION

Transmittal Letter ........................................................................................................................................................... i Certificate of Achievement for excellence in financial reporting (GFOA) .......................................................... vii Organization Chart .................................................................................................................................................... viii List of Principal Officials.............................................................................................................................................. ix City Council .................................................................................................................................................................... x

FINANCIAL SECTION

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

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

Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position ..................................................................................................................................... 29 Statement of Activities .......................................................................................................................................... 30

Fund Financial Statements:

Governmental Fund Financial Statements:

Balance Sheet ...................................................................................................................................................... 36 Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position ................................................................................. 38 Statement of Revenues, Expenditures and
Changes in Fund Balances ............................................................................................................................. 40 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities ................................................................................................................................... 42

Proprietary Fund Financial Statements:

Statement of Net Position ................................................................................................................................. 44 Statement of Revenues, Expenses and Changes in Net Position................................................................. 46 Statement of Cash Flows ................................................................................................................................... 48

Fiduciary Fund Financial Statements:

Statement of Fiduciary Net Position (Deficit) ................................................................................................ 51 Statement of Changes in Fiduciary Net Position (Deficit) ........................................................................... 52

Notes to the Basic Financial Statements ................................................................................................................ 55

City of Chino
Annual Comprehensive Financial Report
For the year ended June 30, 2024

Table of Contents

Page

FINANCIAL SECTION (Continued)

Required Supplementary Information :

Budgets and Budgetary Accounting:

Schedule of Revenues, Expenditures, and Changes in Fund Balance- Budget and Actual:

General Fund ................................................................................................................................................. 107 Facilities Development Special Revenue Fund ......................................................................................... 108 City Affordable Housing Special Revenue Fund ..................................................................................... 109 Transportation Grants Special Revenue Fund .......................................................................................... 110 Schedule of Changes in Total Pension Liability and Related Ratios- Miscellaneous ............................................................................................................................................... 112 Schedule of Plan Contributions - Miscellaneous ......................................................................................... 114 Schedule of the City’s Proportionate Share of the Plan’s Total Pension Liability and Related Ratios - Safety .......................................................................................................................... 116 Schedule of Plan Contributions - Safety ....................................................................................................... 118 Schedule of Changes in Total Pension Liability and Related Ratios – Supplemental Safety .................................................................................................................................... 120 Schedule of Changes in Total OPEB Liability and Related Ratios – Other Postemployment Benefits ........................................................................................................................... 122 Notes to Required Supplementary Information .......................................................................................... 124

Supplementary Information:

Schedule of Revenues, Expenditures, and Changes in Fund Balance- Budget and Actual:

Park Development Capital Projects Fund ........................................................................................................ 127 Nonmajor Governmental Funds:

Combining Balance Sheet ................................................................................................................................... 132 Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit) ................... 138 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual:

Traffic and Safety Special Revenue Fund .................................................................................................. 144 Gas Tax Special Revenue Fund ................................................................................................................... 145 Public Education Government Special Revenue Fund ............................................................................ 146 Transportation Tax Special Revenue Fund ............................................................................................... 147 Measure I Special Revenue Fund ............................................................................................................... 148 Community Services Special Revenue Fund ............................................................................................ 149 Community Development Block Grant Special Revenue Fund ............................................................. 150 Maintenance District Special Revenue Fund ............................................................................................ 151 SCAQMD Special Revenue Fund ............................................................................................................... 152 Local Public Safety Special Revenue Fund ................................................................................................ 153

City of Chino
Annual Comprehensive Financial Report
For the year ended June 30, 2024

Table of Contents

Page

FINANCIAL SECTION (Continued)

Supplementary Information (Continued):

Home Investment Partnership Special Revenue Fund ............................................................................ 154 Asset Forfeitures Special Revenue Fund ................................................................................................... 155 Bureau of Justice Assistance Grant Special Revenue Fund .................................................................... 156 COPS Program AB 3229 Grant Special Revenue Fund ........................................................................... 157 Environmental Mitigation Special Revenue Fund ................................................................................... 158 CalHome Special Revenue Fund ................................................................................................................ 159 Highway Safety Improvement Special Revenue Fund ........................................................................... 160 Road Maintenance and Rehabilitation Special Revenue Fund .............................................................. 161 Assessment District Special Revenue Fund .............................................................................................. 162 Measure I Valley SubArea Program Special Revenue Fund .................................................................. 163

Internal Service Funds:

Combining Statements of Net Position ......................................................................................................... 166 Combining Statements of Revenues, Expenses, and Changes in Net Position ....................................... 167 Combining Statements of Cash Flows .......................................................................................................... 168

Fiduciary Fund - Custodial Funds:

Combining Statements of Fiduciary Net Position ....................................................................................... 170 Combining Statement of Changes in Fiduciary Net Position .................................................................... 174

STATISTICAL SECTION (Unaudited)

Description of Statistical Section Contents ......................................................................................................... 181

Financial Trends:

Government-Wide:

Net Positions by Component – Last Ten Fiscal Years ............................................................................. 182 Changes in Net Position – Expenses and Program Revenues – Last Ten Fiscal Years ....................... 184 Changes in Net Position – General Revenues – Last Ten Fiscal Years .................................................. 186

Governmental Funds:

Fund Balances of Governmental Funds – Last Ten Fiscal Years ............................................................ 188 Changes in Fund Balances of Governmental Funds – Last Ten Fiscal Years ....................................... 190

City of Chino
Annual Comprehensive Financial Report
For the year ended June 30, 2024
Table of Contents
Page
STATISTICAL SECTION (Unaudited), Continued
Revenue Capacity:

Assessed Value and Estimated Actual Value of Taxable Property – City – Last Ten Fiscal Years .................................................................................................................................... 192 Assessed Value and Estimated Actual Value of Taxable Property – Redevelopment Agency -Last Ten Fiscal Years ........................................................................................ 193 Direct and Overlapping Property Tax Rates – Last Ten Fiscal Years ....................................................... 194 Principal Property Taxpayers – Current Year and Nine Years Ago ......................................................... 196 Property Tax Levies and Collections – Last Ten Fiscal Years .................................................................... 197 Taxable Sales by Category .............................................................................................................................. 198 Principal Sales Tax Procedures ...................................................................................................................... 200 Debt Capacity:

Ratios of Outstanding Debt by Type – Last Ten Fiscal Years .................................................................... 201 Direct and Overlapping Debt ......................................................................................................................... 202 Legal Debt Margin Information – Last Ten Fiscal Years ............................................................................ 203 Demographic and Economic Information:

Demographic and Economic Statistics – Last Ten Calendar Years ........................................................... 204 Principal Employers – Current Year and Four Years Ago ......................................................................... 205 Operating Information:

Full-Time and Part-Time City Employees by Function – Last Ten Fiscal Years ..................................... 206 Operating Indicators by Function – Last Ten Fiscal Years ......................................................................... 208 Capital Asset Statistics by Function – Last Ten Fiscal Years ...................................................................... 210

ii
iii
iv
v
vi
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Chino
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2023
Executive Director/CEO
vii
— Legislative Support
— Public Information
— City Clerk
— Contracts
— Economic Develop.
— Information
Technology
— Cable Station
City Organizational Chart
CITIZE

NS OF CHINO
Chino City Council
City Treasurer Planning Commission Community Services
Commission
City Attorney
City Manager
Development
Services
Administration Human Resources Public Works
— Administration
— ADA Accessibility
— Building
— Planning
— Administration &
Housing
— Code Compliance
— Development
Engineering
— Personnel
— Employee Services
— Liability
— Workers Comp.
— Administration
— Capital Improvement
Projects
— Public Works Services
— Waste Management
— Water
— Environmental
Engineering
— ROW Permits/Inspec.
— Transportation
Community Services,
Parks & Recreation Finance Police Department
— Administration
— Recreation Services
— Human Services
— Neighborhood Services
— Community Support
Services
— Parks & Facilities
— Building Management
— Fiscal & Accounting
Services
— Purchasing &
Warehouse
— Utility Billing
— Business License
— Budget
— Payroll
— Accounts Receivable
— Administration
— Operations
— Support Services
viii
List of Principal Officials
As of June 30, 2024
City Council – Elected Positions
Eunice M. Ulloa ............................................................................................................................................................................................... Mayor Karen Comstock .............................................................................................................................................................................. Mayor Pro Tem Curtis Burton ................................................................................................................................................................................... Council Member Christopher Flores .......................................................................................................................................................................... Council Member Marc Lucio ...................................................................................................................................................................................... Council Member Planning Commission
Jimmy Alexandris....................................................................................................................................................................................Chairperson Lisa Fraga ...................................................................................................................................................................................... Vice-Chairperson Brandon K. Blanchard ........................................................................................................................................................................ Commissioner Kevin Cisneroz .................................................................................................................................................................................... Commissioner Vincent Lopez ..................................................................................................................................................................................... Commissioner Steve Lewis ......................................................................................................................................................................................... Commissioner Lawrence Vieira .................................................................................................................................................................................. Commissioner Community Services Commission
Robert Martinez ......................................................................................................................................................................................Chairperson Neal Jerry ....................................................................................................................................................................................... Vice-Chairperson Patricia Pereda Arlt ............................................................................................................................................................................. Commissioner Jamie Aviles ........................................................................................................................................................................................ Commissioner Stephanie Mendoza ............................................................................................................................................................................ Commissioner Julissa Montenegro-Olivas ................................................................................................................................................................. Commissioner Linda Takeuchi ................................................................................................................................................................................... Commissioner City Staff
Linda Reich .......................................................................................................................................................................................... City Manager Hye Jin Lee ......................................................................................................................................................................... Director of Public Works Warren Morelion .................................................................................................................................................. Director of Development Services Rob Burns ................................................................................................................................................................................... Director of Finance Kevin Mensen ..................................................................................................................................................................................... Chief of Police Geriann Kingslan ....................................................................................................................................................... Director of Human Resources Silvia Avalos ............................................................................................................................................................ Director of Community Services Natalie Gonzaga ......................................................................................................................................................................................... City Clerk ix
x

INDEPENDENT AUDITOR’S REPORT

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

Report on the Audit of the Financial Statements

Opinions

We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Chino (City), as of and for the year ended June 30, 2024, 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 Chino, as of June 30, 2024, 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.

We did not audit the financial statements of the Water Facilities Authority, which represent 3.0 percent, and 18 percent, respectively, of the total assets and the operating revenues of the Water Enterprise Fund. Those financial statements were audited by other auditors whose reports thereon have been furnished to us, and our opinion, insofar as it relates to the amounts included for the City’s equity in the Water Facilities Authority is based solely on the reports of the other auditors.

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.

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

Page 2 ends

Responsibilities of Management for the Financial Statements The City’s management is responsible for the preparatio n and fair pres entation of the financial statements
in accordance with accounting princi ples generally accepted in the Unit ed 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 re quired 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 financ ial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issu e an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolu te assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may in volve 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 misstat ement of the financial statements, whether due to fraud or error, and design and pe rform 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 circ umstances, 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 polic ies used and the reasonableness of significant accounting estimates made by management, as we ll 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.
2 To the Honorable Mayor and Members of the City Council of the City of Chino
Chino, California

Page 3 ends

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

Required Supplementary Information
Accounting principles generally acce pted in the United States of America require that the management’s discussion and analysis, budgetary comparison schedules for the General Fund and major special revenue funds, and the required pension and OPEB schedu les be presented to supplement the basic financial statements. Such information is the responsibility of manag ement 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 managem ent about the methods of preparing the information and comparing the information for consistency with ma nagement’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 assuranc e on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial state m ents that collectively
comprise the City’s basic financial statements. The Park Development Capital Projects Fund budgetary comparison schedule, combining nonmajor fund fi nancial statements, and the individual budgetary comparison schedules are presented for purposes of additional analysis and are not a required part of the basic financial statements.

The City’s Park Development Capital Projects Fund , combining nonmajor fund financial statements, and the individual budgetary comparison schedules are the responsibility of management and were derived from and relate 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 proc edures, 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 themse lves, and other additional procedures in accordance with auditing standards generally accepted in the United States of Am erica. In our opinion, Park
Development Capital Projects Fund, the combining nonm ajor fund financial statements, and the individual budgetary comparison schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
3 To the Honorable Mayor and Members of the City Council of the City of Chino
Chino, California

Page 4 ends

Other Information

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

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated March 31, 2025 on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

Badawi & Associates, CPAs
Emeryville, California
March 31, 2025

4 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

MANAGEMENT’S DISCUSSION AND ANALYSIS

As Management of the City of Chino (“City”), we offer readers of the City’s financial statements this narrative overview and analysis of the financial activities of th e City for the fiscal year ended June 30, 2024. We encourage the readers to consider the information presented here in conjunction with additional information furnished in the Le tter of Transmittal and the accompanying basic financial statements. The financial information presented in the Management Discussion and Analysis may differ from the Financial Report due to rounding.

FINANCIAL HIGHLIGHTS

Government-Wide

 Total assets and deferred outflows of resource s of the City were $960.1 million and total liabilities with deferred inflows were $164.6 m illion as of June 30, 2024. The assets and deferred outflows of resources exceeded liabiliti es by $795.5 million (net position). Of this amount, $88.6 million (unrestrict ed net position) may be used to meet the City’s ongoing obligations to citizens and creditors.

 Total revenues from all sources were $247.9 million and total expenses for all functions/programs were $224.9 million.

 Of total revenues, program revenues were $ 147.2 million and general revenues were $100.7 million. Program revenues are br oken into three categories: Charges for Services, $88.1 million; Operating Gr ants and Contributions, $10.4 million; and Capital Grants and Contributions, $48.7 million.

Fund Based

 Total assets of the General Fund were $39.8 million, total liabilities were $4.3 million, and deferred inflows of resources were $3.0 million. The assets exceeded liabilities and deferred inflows of resources by $32.5 million (fund balance). General Fund balance reflected that $2.3 million is non-spendable, and Unassigned is $30.2 million. Please refer to the Fund Balance Analysis section of this MD&A for a detailed explanation of these balances.

 For the General Fund, total revenues were $109. 7 million, and transfers in were $12.0 million totaling $121.7 million. Total expenditures were $91.2 million and transfers out were $24.0 million, totaling $115.2 million.

5 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

OVERVIEW OF THE FINANCIAL STATEMENTS

This discussion and analysis is intended to serve as an introduction to the City of Chino’s basic financial statements. The City of Chino’s basic financial stat ements are comprised of three components: 1) Government-Wide Financial Statem ents, 2) Fund Financial Statements, and 3) Notes to the Financial Statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-Wide Financial Statement

These statements are designed to provide information about the activities of the City of Chino as a whole and present a long-term view of the City’s finances. They are prepared using the accrual basis of accounting, which is similar to the accounting used by most private sector companies.

The Statement of Net Position presents information on all of the City’s assets, deferred outflows of resources and liabilities and deferred inflow s of resources, with the difference between reported as net position. In time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating.

The Statement of Activities presents information on how the City’s net position changed during the fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this stat ement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes or earned/unused vacation leave).

Program Revenues – Revenues derived directly from the program itself.

General Revenues – Revenues received from the citizenry or taxpayer.

In both the Statement of Net Position and Statement of Activities, we divide the City into three kinds of activities:

Governmental activities – Most of the City’ s basic services are r eported here, including:

General Government (City Coun cil, City Administration, Hum an Resources, and Finance); Public Safety, Public Works, Community Development, Parks and Community Services. Sales taxes, property taxes, franchise taxes and business license taxes finance most of these activities.

Business-type activities – The City charges a fee to customers to help cover all or most of the cost of certain services it provides. The Cit y’s water, storm drain, sewer, and street maintenance are reported here.

Component unit – The City has included in this report the City of Chino Public Financing Authority. Although legally separate, the City is financially accountable for this component unit.

6 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

The government-wide financial stat ements include the City and the City of Chino Public Financing Authority. The City of Chino Public Financing Authority is known as a Blended Component Unit and functions for practical purposes, as a part of the City and, therefore, have been included (blended) as an integral part of the primary government.

Fund Financial Statements

The Fund Financial Statements prov ide detailed information about t he most significant funds—not the City as a whole. A fund is a group of related accounts 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 the funds can be divided into three cat egories: governmental funds, proprietary funds and fiduciary funds. The City uses all three types, each using different accounting methods.

Governmental funds – Governmental funds ar e used to account for essentially the same functions reported as governmental activities in the government-wi de financial statements.

However, unlike the government -wide financial statements, go vernmental fund financial statements focus on near-term in flows 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 governmental funds 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 government-wide financial statements. By doing so, readers may better understand the lo ng-term impact of the City’s near-term financing 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 comparis on between governmental funds and governmental activities.

Governmental funds report financial transactions using an accounting method called modified accrual accounting. Information is presented separately in the Governmental Funds – Balance Sheet and in the Governmental Funds – Statement of Revenues, Expenditures, and Changes in Fund Balances for the General Fund, the Facilities Development Special Revenue Fund, the City Affordable Housing Special Revenue Fund, Transportation Grants Special Revenue Fund, the Community Facilities District 03-03 Capita l Projects Fund and the Park Development Capital Projects Fund. All are considered major funds.

Data from nonmajor governmental funds are combined into a single presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements. The City adopts an annua l appropriated budget for all it s governmental funds. A budgetary comparison statement has been provided for each of the funds to demonstrate compliance with this budget.

7 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

Proprietary funds – Proprietary funds are primarily used to account for charges for services the City provides, whether to outside customers or to other units of the City. These funds are reported in the same way all ac tivities are reported in the St atement of Net Position and the Statement of Activities, using an accrual basis of accounting. In fact, the City’s enterprise funds (a component of proprietary funds) are the same as the business-ty pe activities we report in the government-wide financial statements, but provide more detail and additional information, such as the statement of cash flows. The City uses internal service funds (the other component of proprietary funds) to report activities providing supplies and services for the City’s other programs and activities, such as the Employee Benefits Fund.

Fiduciary funds – Fiduciary funds are used to account for resources held for the benefit of parties outside the City. In these cases, the City has a fiduciary responsibility and is acting as a trustee. The Statement of Fiduciary Net Position separately r eports all the City’s fiduciary activities. The City excludes these activities from the City’s other financial statements because the City cannot use these assets to finance its operations. However, the City is responsible for ensuring the financial resources reported in these funds are used for their intended purposes.

Notes to the Financial Statements – Notes provi de additional information essential to a full understanding of the data provided in the government-wide and fund financial statements.

Other Information

In addition to the basic financial statements and ac companying notes, this report also presents certain combining statements referred to earlier, in connection with, non-major governmental and proprietary funds. These combining and individual fund statements and schedules can be found immediately following the Notes to the Financial Statements.

8 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

GOVERNMENT – WIDE FINANCIAL ANALYSIS

This analysis will focus on the fiscal year ending June 30, 2024 for Net Position (Table 1) and Changes in Net Position (Table 2) of the City’s governmental and business-type activities. These tables summarize the statements.

Net Position (Table 1)
(in millions)

The City’s government-wide total net position was $795.5 million, with assets and deferred outflows of resources of $960.2 million and liabilities and deferred inflows of resources of $166.7 million. The net investment in capital assets of $563.4 million represents 70.8 percent of the City’s total net position. Investment in capital assets (e.g., infrastructure, land, bui ldings, machinery, and equipment) for this purpose is reduced by any re lated debt used to acquire those assets still outstanding. The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City’s investment in its capital assets is reported net of related debt, it should be noted t he resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

2024 2023 2024 2023 2024 2023
Current and other assets 249.4$ 240.6$ 106.3 $ 97.9$ 355.7 $ 338.5$ Capital assets 332.5 320.1 234.0 220.2 566.5 540.3 Total assets 581.9 560.7 340.3 318.1 922.2 878.8 Deferred outflow of
resources 33.2 42.2 4.8 5.9 38.0 48.1 Long-term debt outstanding 78.6 75.9 13.7 12.7 92.3 88.6 Other liabilities 26.6 22.1 25.7 23.4 52.3 45.5 Total liabilities 105.2 98.0 39.4 36.1 144.6 134.1 Deferred inflow of
resources 16.2 17.1 3.9 3.2 20.1 20.3 Net position:

Net investment in capital assets 331.1 318.3 232.3 219.5 563.40 537.8 Restricted 143.5 148.2 - - 143.50 148.2 Unrestricted 19.1 21.3 69.5 65.2 88.60 86.5 Total net position 493.7$ 487.8$ 301.8$ 284.7 $ 795.5 $ 772.5$ Government-wide TotalsGovernmental Activities Business-type Activities 9 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024
An additional portion of the City’s net position, $143.5 million (18.0 percent), represents resources subject to external restrictions in how they may be used. The unrestricted net position is the balance of $88.6 million (11.1 percent) and may be used to meet the government’s ongoing obligations to citizens and creditors within the program areas.

Changes in Net Position (Table 2)
(in millions)
2024 2023 2024 2023 2024 2023
Revenues
Program revenues:

Charges for services 24.7$ 19.1 $ 63.4$ 75.0 $ 88.1 $ 94.1$ Operating grants and contributions 9.4 10.9 1.0 0.6 10.4 11.5 Capital grants and contributions 39.1 41.8 9.6 4.7 48.7 46.5 Sub-total program revenues 73.2 71.8 74.0 80.3 147.2 152.1 General revenues:

Sales taxes 36.0 35.6 - - 36.0 35.6
Property taxes, levied for general purposes 38.2 32.5 - - 38.2 32.5 Franchise taxes 4.0 3.8 - - 4.0 3.8
Business license taxes 1.2 1.0 - - 1.2 1.0 Other taxes 5.9 5.8 - - 5.9 5.8
Revenues not restricted to specific programs 5.5 4.4 0.2 6.4 5.7 10.8 Investment earnings (loss) 6.2 2.7 3.5 0.8 9.7 3.5 Sub-total general revenues 97.0 85.8 3.7 7.2 100.7 93.0 Total revenues 170.2 157.6 77.7 87.5 247.9 245.1 Expenses
General government 11.4 6.4 - - 11.4 6 .4
Public safety 71.3 79.8 - - 71.3 79.8
Public works 35.8 29.7 - - 35.8 29.7
Community development 18.5 16.8 - - 18.5 16.8 Parks and community services 16.6 13.2 - - 16.6 13.2 Unallocated infrastructure depreciation 5.2 4.9 - - 5.2 4.9 Sanitation - - 10.5 8.7 10.5 8.7
Water - - 33.0 29.9 33.0 29.9
Storm drain - - 7.0 7.5 7.0 7.5
Sewer - - 15.4 14.3 15.4 14.3
Sewer Lift Station - - 0.2 0.1 0.2 0.1 Total expenses 158.8 150.8 66.1 60.5 224.9 211.3 Excess(deficiency) in revenues over (under) expenses 11.4 6.8 11.6 27.0 23.0 33.8 Transfers (3.4) (6.7) 3.4 6.7 - -
Increase (decrease) in net position 8.0 0.1 15.0 33.7 23.0 33.8 Net
position, beginning of year, as restated 487.8 487.7 284.7 251.0 772.5 738.7 Restatement - Prior Year Adjustment (2.1) - 2.1 - - - Net position, end of year 493.7$ 487.8$ 301.8$ 284.7 $ 795.5 $ 772.5 $ Governm ental Activities Governm ent-wide TotalsBusiness-type Activities 10 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024
Government-Wide Totals – The government-wide net position increased $23.0 million on total revenues of $247.9 million and total expenses of $224.9 million. (see table 2). Program revenues were $147.2 million and general revenues were $100.7 million. The largest single program revenue category was Charges for Services at $88.1 mi llion. Capital Grants and Contributions was the second largest program revenue at $48.7 million.

Governmental Activities – Governmental activi ties net position increased by $8.0 million before restatement (see table 2). Revenues increased $12.6 million primarily due to increased Charges for Services, $5.6 million, Property Tax, $5.7 milli on, and Investment income, $3.5 million. These increases were offset by a $2.7 million decreas e in Capital Grants and Contributions. Expenditures increased $8.0 million (5.3 percent) in FY 2024 due to greater personnel related costs. Net transfers from Governmental activities to business-type activities decreas ed $3.3 million. The cost of all governmental activities this year was $158.8 mi llion or 70.6 percent of the government-wide expenses. However, as shown in the Statement of Activities, the amount taxpayers were charged for these services was only $23.8 million. The City paid for the remaining “public benefit” portion of governmental activities through a combination of general revenues and various grant funds.

The largest general revenue source was Property Taxes at $38.2 million. The City’s second largest general revenue source was sales tax at $36.0 million. Sales tax revenue was nearly consistent when compared to prior year’s amount of $35.6 million. Property tax increased from $32.5 million to $38.2 million due to the addition of new residentia l and industrial units. Investment earnings increased from $2.7 million to $6.2 . This increase in investment earnings was due to increased investment rates resulting from the Federal Reserve’ s rate hiking actions over this last couple of years.

Graph 1 represents the costs of each of the City’s five functions – General Government, Public Safety, Public Works, Community Development, and Parks and Community Services, as well as each program’s revenues. The net cost (total expenses less program revenues) is the amount funded through a combination of general revenues and grant funding.

Expenses and Program Revenues – Governmental Activities (Graph 1) 11 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024
General Government had expenses of $11.4 million with program re venues of $9.9 million, while Public Safety had expenses of $71.3 million, with program revenues of $5.0 million. Expenses in Public Works were $35.8 million, with program revenues of $26.0 million; Community Development had expenses of $18.5 million, with $24.3 milli on of program revenues; and, finally, Parks and Community Services had expenses of $16.6 milli on, with $8.0 million of corresponding program revenues. Parks and Community Services and Public Safety had the lowest percentage of program revenue to expenses at 48.5 percent and 7.0 percent, respectively.

Graph 2 represents revenues by source for Govern mental Activities. Program revenues accounted for $73.2 million or 43.9 percent of total revenues, out of which Capital Grants and Contributions were the largest revenue source of $39.1 million or 23.4 percen t. General revenues accounted for $93.7 million or 56.1 percent of total revenues, out of which the Property Taxes were the largest on- going revenue source at $38.2 million or 22.9 percent of total revenues.

Revenues by Source – Governmental Activities (Graph 2)
12 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024
Business-Type Activities – Net position as of June 30, 2024 was $301.8 million, with assets and deferred outflows of resources equaling $345.1 millio n and liabilities, including deferred inflows of resources, of $43.3 million (Table 1). Unrestricted net position represented 23.0 percent or $69.5 million of net position, which may be used to meet the government’s ongoing obligations to citizens and creditors. Net investment in capital assets represented the largest portion of net position at 77.0 percent or $232.3 million. Business-type activities increased the City’s net position by $15.0 million in 2024 before adding a positive restatement of $2.1 million, resulting in an overall increase of $17.1 (Table 2).

Program Revenues of the City’s business-type activities were $74.0 mil lion. Expenses were $66.1 million, with general revenues and transfers of $7.1 million. Total expenses under business-type activities increased $5.5 million. This increase is primarily due to an increased personnel related costs during FY 2023-24.

Graph 3 presents the costs associated with each of the City’s business-type activities and their corresponding program revenues. Since business-ty pe activities primarily involve charging customers for the services provided by the City, program revenues—such as charges for services— are expected to align closely with the costs of these programs. These revenues serve as the primary funding source for sustaining these activities
Expenses and Program Revenues – Business-type Activities (Graph 3) 13 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance- related legal requirements.

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

The City has six major governmental funds: General Fund, Facilities Development Special Revenue Fund, City Affordable Housing Special Revenue Fund, the Transportation Grants Special Revenue Fund, the Community District 03-03 Facilities Capital Projects Fund and the Park Development Capital Projects Fund. The General Fund is discussed in depth in Note 1. The Facilities Development Special Revenue Fund is for the collection of development impact fees for the construction of capital facilities. The City Affordable Housing Fund is us ed to account for receipts and disbursements for financial assistance to eligible homebuyers and financial incentives to eligible housing developers.

The Transportation Grants Fund is to account for receipts and disbursements relating to federal and state transportation grants. The Co mmunity Facilities District 03-03 Capital Projects Fund is to account for the acquisition and development of capi tal projects financed by the issuance of Mello- Roos. The Park Development Capital Projects Fu nd is used to account for the acquisition and development of parks. Each major fund is discussed in the Notes to the Financial Statements.

Fund Balances – As of the end of FY 2023-24, governmental funds reported combined ending fund balances of $188.7 million, a decrease of $37.7 million. The lar gest decrease of $36.2 million was within the General Fund due to the elimination of a long-term note receivables from the Employee Benefits Fund (see Note19). Park Development Capi tal Projects Fund balance decreased by $2.8 million due to transfers-out of $5. 1 million to reimburse t he General Fund for project related costs.

Facilities Development Fund increased by $2.9 milli on due to significant increases in investment income, $4.4 million (99.0 percent) as well as a $5.5 million reduction in transfers out. 14 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024
Governmental Revenues – Table 3 presents a summary of governmental fund revenues for the fiscal year ended June 30, 2024.

Comparison of Major Governmental Revenues (Table 3)
(in millions)
Revenues of governmental funds increased for FY 2023-24 by $13.5 million, to $169.6 million. As identifie
d in Table 3 above, Taxe s increased $7.3 million, primarily due to significant increases in Property Taxes related receipts. Charges for Serv ices increased $6.6 mill ion. The Charges for Services increase primarily resulted from an increase in development projects requiring the payment of City Development Impact Fees. Investment income increased $4.4 million as a result of a higher investment rates of return across all permitted investment categories. However, Contributions from Property Owners declined significantly, reflecting a slowdown in development-related contributions, which may impact funding availability for certain infrastructure improvements.

Fiscal Year Ended
June 30, 2024
Fiscal Year Ended
June 30, 2023
Variance
Over/(Under)
Prior Year
Revenues
Taxes 86.6 $ 79.3$ 7.3$
Licenses and permits 2.1 1.7 0.4
Intergovernmental 14.8 14.5 0.3
Charges for services 23.7 17.1 6.6
Investment income (loss) 11.5 7.1 4.4
Fines and forfeitures 1.5 1.5 -
Other revenues 5.3 4.9 0.4
Contributions from Property Owners 24.1 30.0 (5.9)
Total revenues 169.6$ 156.1$ 13.5$
15 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024
Governmental Expenditures – Table 4 presents a su mmary of governmental fund expenditures for the fiscal year ended June 30, 2024.

Comparison Major Governmental Expenditures (Table 4)
(in millions)
Total Expenditures for FY 2023-24 and FY 2022-23 were $163.3 million and $141.4 million respectively, for an increase of $21.9 million. Public Safety expenditures increased $

6.4 million
primarily due to increases in employee related co st allocations, full-time salaries, and equipment- related cost allocations. Capital outlay expenditu res increased $18.6 million due to more capital draws by developers for infrastructure reimbursements and an adjustment to reclassify expenditures from Public Works to Capital Outlay.

Proprietary Funds – The City’s Proprietary major Enterprise Funds are the Water, Sewer, Storm Drain, and Sanitation Funds and the Sewer Lift Station Fund being its one non-major fund. The City’s five Internal Service Funds include Central Services, Liability Insurance, Employee Benefits, Building Management, and Equipment Management. Total operating revenues for all Enterprise Funds for FY 2023-24 were $63.4 million, while non-operating revenues were $4.6 million. Water and Sewer generated the most operating revenue at $30.8 and $17.3 million, respectively. Operating expenses for FY 2023-24 were $67.0 million, while non-operating expenses were less than $0.1 million. Again, Water and Sewer had the largest operating expend itures at $33.5 and $15.6 million, respectively.

The City’s five Internal Service Funds allocate various costs of the City’s services to the departments.

The interdepartmental charge for services (oper ating revenues) in FY 2023-24 was $53.9 million.

The Employee Benefits Fund had $30.1 million of revenue, representing 55.8 percent of all Internal Service Funds revenue. Operating expenses fo r FY 2023-24 were $47.1 million. Again, the Employee Benefits Fund represented the majority of total expenditures at $25.6 million.

Fiscal Year Ended
June 30, 2024
Fiscal Year Ended
June 30, 2023
Variance
Ov er/(Under)
Prior Year
Expenditures
General government 8.5 $ 6.4$ 2.1$
Public safety 65.3 58.9 6.4
Public works 14.1 22.4 (8.3)
Community development 18.3 16.8 1.5

11.3 9.7 1.6
Operating expenditures 117.5 114.2 3.3
Capital outlay 45.4 26.8 18.6
Debt service:

Principal 0.4 0.4 -
Total expenditures 163.3$ 141.4$ 21.9$ Parks and community serv ices
16 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

Fiduciary Funds – As previously mentioned, the City uses fiduciary funds to account for resources held for the benefit of parties outside the City, in wh ich the City is acting as trustee. The Statement of Fiduciary Net Position reports the activities fo r which the City has a fiduciary responsibility. The Successor Agency to the Redevelopm ent Agency of the City of Chi no Private-purpose Trust Fund is used to account for the transactions of the former RDA. In addition, the City administers 23 Community Facilities Districts or Improvement Areas. These district s account for the collection of assessments from owners of the properties within the Districts for the remittance of such assessments to the bondholders.

GOVERNMENTAL FUNDS – FUND BALANCE ANALYSIS

Fund Balance – The City’s Governmental Funds reported combined fund balances of $188.7 million, an decrease of $37.7 million from the prior year. The decrease is the net result of decreases in fund balances listed in the table below:

Governmental Funds Fund Balance (in millions)

The General Fund balance decreased by $36.2 million, which includes a $42.6 million reversal of a note receivable in the General Fund and a corres ponding note payable in the Employee Benefits fund that had been recorded during the 2017-18 fiscal year, combined with a $6.4 million increase in the current year operation, partially offsetting the overall decrease in the General Fund balance.

Facilities Development Fund Balance increased by $2.3 million due to increased collections of development impact fees. Development impact fees depend on various factors, such as project location and developer decisions. These factors change from year to year, impacting revenue collections and subsequent fund balances. The increase of $2.4 million in Community Facilities District 2003-03 Fund is the net impact of bonds bei ng issued during the y ear for developers and reimbursement for developer costs incurred. T he Park Development Fund Balance decreased by $2.8 million due to planned park and public facility improvement projects.

The total fund balance of $188.7 million is classified into five categories, as defined by GASB 54, based on the level of constraints placed on the City’s use of these funds: Non-spendable, Restricted, Committed, Assigned, and Unassigned.

End of Year Beginning of Year Net Change
General Fund 32,457$ 68,652$ (36,195)$ Facilities Development Fund 84,939 82,633 2,306 City Affordable Housing Fund 10,648 10,517 131 Transportation Grants Fund 5,909 5,363 546 Community Facilities District 2003-3 Fund 25,939 23,503 2,436 Park Development Fund 12,941 15,786 (2,845) Nonmajor Governmental Funds 15,878 19,923 (4,045) Totals 188,711$ 226,377$ (37,666)$ 17 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

Non-spendable Fund Balance – The City has $2.3 million in fund balance classified as non- spendable to indicate that it cannot be readily converted to cash. The non-spendable balance is primarily from the City’s General Fund. Non-spendable fund balance decreased $53.1 million when compared to the prior fiscal year primarily due to the elimination of the long-term note receivable from the Employee Benefits fund.

Restricted Fund Balance – The City has $146.6 milli on in fund balance classified as restricted to indicate that it has an externally imposed restriction on how the money may be spent. The majority of this restricted fund balance ( $84.9 million) is from the collect ion of Facilities Development revenues for the construction of infrastructure facilities around the City. The Nonmajor Governmental funds restricted fund balance of $16.9 million is restricted for the purpos e of each fund making up the total for Nonmajor Govern mental funds. The Transportation Grants fund is holding $5.9 million for future budgeted projects. The Community Facilities District 2003-03 fund is holding $25.9 million of unspent contributions and bond proceeds available for reimbursement for approved project costs.

Finally, the Park Development Capital Projects fund is holding $12.9 milli on for the purchase and construction of future parks within the city.

Committed Fund Balance – The City has $11.7 million in fund balance classified as committed to indicate that the City Council has committed how the money will be spent. Of the $11.7 million committed fund balance, nearly $10.7 million is committed to the City Affordable Housing Fund. The remaining amount of $1.0 million is for Non-major Governmental Funds.

Assigned Fund Balance – The City has zero in fund balance which is not restricted or committed and is classified as assigned.

Unassigned Fund Balance – The remaining $28.1 million in fund balance is classified as unassigned, representing the residual balance not otherwise restricted. This amount is comprise of $30.2 million of General Fund balance offset by a negative $2.0 milli on of Nonmajor Governmental funds.

Additional information on the City’s Fund Balance c an be found in Note (16) of the Notes to the Financial Statements.

18 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

GENERAL FUND – REVENUE AND EXPENDITURE ANALYSIS

General Fund Revenues (Graph 4)

Revenues – For FY 2023-24 General Fund revenues were $109.7 million. Graph 4 shows revenue sources as a percentage of total General Fund revenues.

General Fund revenues for fiscal year 2023-24 to taled $109.7 million, an $8.8 million increase compared to $100.9 million in fiscal year 2022-23. Pr operty Taxes were the primary contributor to this growth, increasing by $6.3 million and reflecting significant improvement across nearly all revenue streams within this category. Charges for Services and Investment Income also demonstrated strong performance, e xceeding prior year results by $2.5 million (30.7%) and $1.6 million (48.4%), respectively. The increase in Charges for Services was driven by higher overhead- related receipts, growth in Plan Check and Construction Fees, and enhanced Cost Recovery for Public Nuisance revenues. However, these positive variances were offset by a $2.5 million decrease in Intergovernmental Revenues reflecting the budgeted reduction in grant revenues.

19 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

General Fund Expenditures (Graph 5)

Expenditures – For FY 2023-24, total General Fu nd expenditures were $ 91.2 million. Graph 5 illustrates the allocation of functional expendi tures as a percentage of total General Fund expenditures.

General Fund expenditures for fiscal year 2023-24 totaled $91.2 million, reflecting an $8.6 million increase compared to $82.6 million in fiscal year 2022-23. Of this increase, Public Safety expenditures accounted for $6.6 million, rising from $58.4 million in the prior fiscal year to $65.1 million in 2023-24. The primary contributors to this growth were increases in employee-related cost allocations ($4.1 million), full-t ime salaries ($1.9 million), and equipment-related cost allocations ($2.0 million). These increases were partially offset by a $1.5 million decrease in capital purchases.

General Government expenditures also rose, incr easing by $2.1 million from $6.4 million in fiscal year 2022-23 to $8.5 million in 2023-24, primarily due to higher personnel costs

GENERAL FUND BUDGETARY HIGHLIGHTS

Throughout the fiscal year, the City Council approved various additional appropriations. The budgetary comparison schedule in the Required Supple mental Information section of this report (page 107) highlights the differences between the originally adopted budget and the final approved budget.

Revenues - For fiscal year 2023-24, the final budgeted amount for estimated revenues (resources available for appropriation) increased approximately $0.5 million from the original budget of $107.3 million resulting in the final amended budget of $107.8 million.

Expenditures – For fiscal year 2023-24, the fi nal amended appropriation budget for General Fund expenditures was $98.4 million, reflecting an in crease of $1.6 million ov er the original adopted appropriations budget of $96.8 million.
20 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets – The City’s investment in capi tal assets for its governmental and business-type activities as of June 30, 2024 was $566.5 million (net of accumulated depreciation). This investment in capital assets includes land, buildings, im provements other than bu ildings, furniture and equipment, and infrastructure. (Table 5)

Capital Assets (Table 5)
(net of depreciation)
(in millions)

For FY 2023-24, the final Capital Budget calls for the City to spend another $135.7 million. The City budgeted $53.3 million for water, sewer, storm drain and sanitation projects, $70.2 million for street and transportation improvements, and $9.0 million for park development. Additional information about the City’s capital assets can be found in Note 8 of the Notes to the Basic Financial Statements.

2024 2023 2024 2023 2024 2023
Land 89,137 $ 89,137 $ 1,292$ 1,140$ 90,429 $ 90,277$ Construction in progress 36,203 30,338 17,538 36,044 53,741 66,382 Buildings, net 66,237 67,893 5,096 5,314 71,333 73,207 Improvements other than
buildings, net 25,593 24,201 209,879 177,499 235,472 201,700 Furniture and equipment, net 8,701 8,445 149 172 8,850 8,617 Infrastructure, net 105,450 98,459 - - 105,450 98,459 Leased Assets 317 527 317 527 SBITA Assets 844 1,142 34 69 878 1,211 Total Capital Assets 332,482$ 320,142 $ 233,988$ 220,238$ 566,470 $ 540,380$ Governmental Activities Government-wide TotalsBusiness-type Activities 21 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024

Long-Term Debt – As of June 30, 2024, outstanding long-term debt totaled $20.0 million for Governmental Activities and $2.1 million for Business-type Activities. (Table 6)

Long-Term Debt (Table 6)
(in millions)

Additional information about the Cit y’s long-term debt can be found in Note 9 of the Notes to the Basic Financial Statements.

CONOMIC FACTORS AND OUTLOOK FOR FUTURE YEARS

FACTORS AFFECTING NEXT YEAR’S BUDGET

The FY 2024-25 Budget was ad opted with an identified General Fund operating surplus of $146 thousand. At the time this docum ent was written, the FY 2024-25 Midyear Budget Review further revised the budget and projected to end the year with a $675 thousand surplus with the injection of a one-time transfers in of $7 million from its Internal Service Funds to cover one-time expenditures.

The FY 2024-25 General Fund balance is anticipated to rise by $675 thousand, increasing from $30.1 million to $30.8 million in spendable fund balance resources. Within this unassigned balance, the current fund balance policy allocates 15% of the adopted annual General Fund expenditure budget for operating reserves and 2.5% or up to $10 million for emergency contingency reserves, resulting in a total reserve of 17.5%. This reserve level meets the Government Finance Officers Association's (GFOA) best practice of maintaining a two-month, or 16.7%, reserve. Additionally, the City plans to review and update its 2011 fund balance policy to ensure alignment with best practices.

2024 2023 2024 2023 2024 2023
Claims liabilities 7,147 8,002 - - 7,147 8,002 SRF Loan - - 1,190 - 1,190 - Compensated absences 6,883 6,257 920 727 7,803 6,984 Lease Liability 317 521 317 521 SBITA Liability 780 1,085 35 69 815 1,154 Note payable Successor Agency, restated 4,850 5,440 - - 4,850 5,440 Total long-term debt 19,977$ 21,305 $ 2,145 $ 796 $ 22,122 $ 22,101 $ Governmental
Activities
Business-type
Activities Government-wide Totals
22 Chino of Chino
Management’s Discussion and Analysis
June 30, 2024
Revenue Enhancements
In prior years, City revenues have grown but have not kept pace with the rising costs associated with providing the diverse range of e ssential services expected by Ch ino residents and businesses. To address this challenge, the City took proactive steps to engage with the community and highlight the necessity of Measure V. Approved by Chino voters in March 2024 and took effect in July 2024, Measure V is a locally controlled one-cent sales tax measure. It is vital for preserving the City’s quality of life by sustaining essential services such as public safety, infrastructure maintenance, and community programs. Additionally, it enables the City to begin addressing deferred infrastructure projects and neighborhood improvement initiatives. Measure V is projected to generate an estimated $26 million in revenue for fiscal year 2024-25.

Master Planning
As the City of Chino continues to grow, addi ng new residential and industrial developments throughout the community, it is essential to estab lish a program for the repair and replacement of aging infrastructure to support the City’s long-term success. Over the past several years, the City has completed several Master Plans, which will be incorporated into future financial projections and financial planning efforts.

CONTACTING THE CITY’S FINANCIAL MANAGEMENT
This financial report is designed to provide our ci tizens, taxpayers, customers, investors, and creditors with a general overview of the City’
s finances and to show the City’s accountability for the money it receives. Questions co ncerning any of the information prov ided in this report or requests for additional financial information should be addresse d to the Director of Finance, City of Chino, 13220 Central Avenue, Chino, California 91710.
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24 BASIC

FINANCIAL STATEMENTS
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26 GOVERNMENT-WIDE

FINANCIAL STATEMENTS
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28 City of Chino
Statement of Net Position
June 30, 2024
Governmental Business-type
Activities Activities Total
ASSETS
Current assets:

Cash and investments 188,601,980$ 72,786,454$ 261,388,434$ Receivables:

Accounts 17,332,365 13,448,756 30,781,121 Taxes 1,615,810 - 1,615,810 Interest 1,120,879 322,305 1,443,184 Leases 835,617 991,965 1,827,582 Internal balances 6,827,816 (6,827,816) - Prepaid expenses 570 - 570 Inventories 107,334 198,610 305,944 Restricted assets:

Cash and investments - 19,934,261 19,934,261 Cash and investments with fiscal agent 31,080,685 - 31,080,685 Total current assets 247,523,056 100,854,535 348,377,591 Noncurrent assets:

Loans receivable, net of allowance 1,864,047 - 1,864,047 Investment in joint venture - 5,467,734 5,467,734 Capital assets:

Nondepreciable 125,339,877 18,829,349 144,169,226 Depreciable 406,381,774 355,118,167 761,499,941 Less accumulated depreciation (199,239,641) (139,959,281) (339,198,922) Total capital assets 332,482,010 233,988,235 566,470,245 Total noncurrent assets 334,346,057 239,455,969 573,802,026 Total assets 581,869,113 340,310,504 922,179,617

DEFERRED OUTFLOWS OF RESOURCES
Pension related 31,653,286 4,219,347 35,872,633 OPEB related 1,527,738 565,054 2,092,792 Total deferred outflows of resources 33,181,024 4,784,401 37,965,425

LIABILITIES
Current liabilities:

Accounts payable 8,899,979 3,362,113 12,262,092 Accrued liabilities 2,910,825 - 2,910,825 Interest payable 22,139 316 22,455 Deposits payable 7,400,015 21,417,164 28,817,179 Retentions payable 281,670 439,421 721,091 Due to other governments 2,123,549 114,808 2,238,357 Due to Successor Agency 589,353 - 589,353 Unearned revenue 543,304 62,412 605,716 Compensated absences - current 1,720,664 230,145 1,950,809 Estimated claims payable - current 1,650,000 - 1,650,000 Long-term debt - current 363,844 34,621 398,465 Total current liabilities 26,505,342 25,661,000 52,166,342 Noncurrent liabilities:

Note payable to successor agency 4,850,332 - 4,850,332 Compensated absences 5,161,992 690,431 5,852,423 Estimated claims payable 5,496,659 - 5,496,659 Total pension liability 52,162,750 8,035,597 60,198,347 Total OPEB liability 10,241,830 3,788,074 14,029,904 Long-term debt 733,094 1,190,161 1,923,255 Total noncurrent liabilities 78,646,657 13,704,263 92,350,920 Total liabilities 105,151,999 39,365,263 144,517,262

DEFERRED INFLOWS OF RESOURCES
Leases related 819,962 963,651 1,783,613 Pension related 7,597,495 101,640 7,699,135 OPEB related 7,751,170 2,866,870 10,618,040 Total deferred inflows of resources 16,168,627 3,932,161 20,100,788

NET POSITION
Net investment in capital assets 331,103,402 232,324,032 563,427,434 Restricted for:

Public safety 2,569,148 - 2,569,148 Public works 9,718,941 - 9,718,941 Community development 2,744,382 - 2,744,382 Capital improvement projects 128,465,378 - 128,465,378 Total restricted 143,497,849 - 143,497,849 Unrestricted 19,128,260 69,473,449 88,601,709 Total net position 493,729,511$ 301,797,481$ 795,526,992$ Primary Government
See accompanying Notes to Basic Financial Statements.
29 City of Chino
Statement of Activities
For the year ended June 30, 2024
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Governmental activities:

General government 11,381,029$ 1,393,015$ 2,295,904$ 6,212,347$ Public safety 71,318,394 2,863,957 2,120,984 - Public works 35,836,997 11,257,084 770,390 13,984,623 Community development 18,440,885 5,167,328 189,191 18,894,205 Parks and community services 16,572,109 3,996,904 4,048,516 - Unallocated infrastructure depreciation 5,205,455 - - - Interest expense 27,693 - - - Total governmental activities 158,782,562 24,678,288 9,424,985 39,091,175 Business-type Activities:

Sanitation 10,517,440 10,284,049 870,382 - Water 32,955,908 30,781,392 126,516 5,799,644 Storm drain 6,954,504 4,792,595 - 3,107,771 Sewer 15,421,258 17,340,180 - 670,906 Sewer lift station 215,948 247,933 - - Total business-type activities 66,065,058 63,446,149 996,898 9,578,321 Total primary government 224,847,620$ 88,124,437$ 10,421,883$ 48,669,496$ General Revenues:

Taxes:

Sales taxes
Property taxes, levied for general purposes
Franchise/allocated revenues
Business license taxes
Other taxes
Total taxes
Revenues not restricted to specific programs
Investment earnings (loss)
Transfers
Total general revenues and transfers
Change in net position
Net position - beginning of year, as previously presented Restatement - Prior Period Adjustments
Net position - beginning of year, as restated
Net position - end of year
Program Revenues
See accompanying Notes to Basic Financial Statements.
30 Governmental Business-Type
Total Activities Activities Total
9,901,266$ (1,479,763)$ -$ (1,479,763)$ 4,984,941 (66,333,453) - (66,333,453) 26,012,097 (9,824,900) - (9,824,900) 24,250,724 5,809,839 - 5,809,839 8,045,420 (8,526,689) - (8,526,689) - (5,205,455) - (5,205,455) - (27,693) - (27,693) 73,194,448 (85,588,114) - (85,588,114) 11,154,431 - 636,991 636,991 36,707,552 - 3,751,644 3,751,644 7,900,366 - 945,862 945,862 18,011,086 - 2,589,828 2,589,828 247,933 - 31,985 31,985 74,021,368 - 7,956,310 7,956,310 147,215,816$ (85,588,114) 7,956,310 (77,631,804) 36,013,142 - 36,013,142
38,163,470 - 38,163,470
4,047,526 - 4,047,526
1,209,873 - 1,209,873
5,860,818 - 5,860,818
85,294,829 - 85,294,829
5,465,933 162,237 5,628,170
6,246,444 3,479,192 9,725,636
(3,351,398) 3,351,398 -
93,655,808 6,992,827 100,648,635
8,067,694 14,949,137 23,016,831
487,797,988 284,712,173 772,510,161
(2,136,171) 2,136,171 -
485,661,817 286,848,344 772,510,161
493,729,511$ 301,797,481$ 795,526,992$
and Changes in Net Position
Net (Expense) Revenue
31 This page intentionally left blank
32 FUND

FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements
33 This page intentionally left blank
34 This page intentionally left blank
35 City of Chino
Balance Sheet
Governmental Funds
June 30, 2024
General Fund
Facilities
Development
Special Revenue
Fund
City Affordable
Housing Special
Revenue Fund
Transportation
Grants Special
Revenue Fund
ASSETS
Cash and investments 22,631,401$ 85,833,680$ 10,603,212$ 11,084,423$ Cash and investments with fiscal agents - - - - Accounts receivable 11,202,086 175,222 10,263 83,971 Taxes receivable 1,609,637 - - - Interest receivable 338,313 392,182 47,928 45,067 Lease receivable 649,971 - - - Prepaid expenses - - - - Inventories 82,551 - - - Due from other funds 1,023,135 - - - Loans receivable, net of allowances - - - - Advances to other funds 2,222,862 - - - Total assets 39,759,956$ 86,401,084$ 10,661,403$ 11,213,461$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable 2,029,544$ -$ 3,294$ 3,555,580$ Accrued liabilities 880,164 - - - Deposits payable 812,089 872,847 - 1,530,892 Retentions payable - - - 134,445 Advance from General Fund - - - - Due to other funds - - - - Due to other governments 217,482 - - - Due to Successor Agency - 589,353 - - Unearned revenue 364,164 - 10,000 83,445 Total liabilities 4,303,443 1,462,200 13,294 5,304,362 Deferred Inflows of Resources
Deferred inflows related to leases 636,496 - - - Unavailable revenue 2,363,099 - - 113 Total deferred inflows of resources 2,999,595 - - 113 Fund Balances:

Nonspendable 2,305,413 - - - Restricted - 84,938,884 - 5,908,986 Committed - - 10,648,109 - Assigned - - - - Unassigned 30,151,505 - - - Total fund balances 32,456,918 84,938,884 10,648,109 5,908,986 Total liabilities, deferred inflows of
resources and fund balances 39,759,956$ 86,401,084$ 10,661,403$ 11,213,461$ Special Revenue Funds
See accompanying Notes to Basic Financial Statements.
36 Community
District 03-03
Facilities
Capital Project
Park
Development
Capital Projects
Fund
Nonmajor
Governmental
Funds
Total
Governmental
Funds
-$ 17,401,008$ 12,543,926$ 160,097,650$ 25,798,891 - 5,281,794 31,080,685 - 1,765,330 3,949,396 17,186,268 - - 6,173 1,615,810 140,438 77,436 79,515 1,120,879 - 185,646 - 835,617 - - 570 570 - - - 82,551 - - - 1,023,135 - - 1,864,047 1,864,047 - - - 2,222,862 25,939,329$ 19,429,420$ 23,725,421$ 217,130,074$ -$ 312,155$ 1,692,271$ 7,592,844$ - - (5,447) 874,717 - 4,182,976 1,211 7,400,015 - 53,141 16,939 204,525 - - 1,629,181 1,629,181 - - 1,023,135 1,023,135 - - 1,904,886 2,122,368 - - - 589,353 - - 2,812 460,421 - 4,548,272 6,264,988 21,896,559 - 183,466 - 819,962 - 1,756,257 1,582,834 5,702,303 - 1,939,723 1,582,834 6,522,265 - - 570 2,305,983 25,939,329 12,941,425 16,872,325 146,600,949 - - 1,048,272 11,696,381 - - - - - - (2,043,568) 28,107,937 25,939,329 12,941,425 15,877,599 188,711,250 25,939,329$ 19,429,420$ 23,725,421$ 217,130,074$ Capital Project Funds
37 Total Fund Balances - Total Governmental Funds 188,711,250$ Capital assets used in governmental activities were not current financial resources. Therefore, they were not reported in the Governmental Funds Balance Sheet. Except for the internal service funds reported below, the capital assets were adjusted as follows:

Government-
Wide Statement
of Net Position
Internal
Service
Funds Total
Nondepreciable 125,339,877$ (4,951,707)$ 120,388,170 Depreciable, net 207,142,133 (11,529,374) 195,612,759 Total capital assets 332,482,010$ (16,481,081)$ 316,000,929 Internal service funds were 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 were included in governmental activities in the Government-Wide Statement of Net Position. 33,617,448
Unavailable revenues recorded in the fund financial statements resulting from activities in which revenues were earned but were not available are reclassified as revenues in the Government-Wide Financial Statements. 5,702,303
In the Government-Wide Financial Statements, deferred employer contributions for pension and OPEB, certain differences between actuarial estimates and actual results, and other adjustments resulting from changes in assumptions and benefits are deferred in the current year.

Government-
Wide Statement
of Net Position
Internal
Service
Funds
Deferred outflows of resources related to pension 31,653,286$ (2,656,628)$ 28,996,658 Deferred outflows of resources related to OPEB 1,527,738 (355,773) 1,171,965 Deferred inflows of resources related to pension (7,597,495) 63,996 (7,533,499) Deferred inflows of resources related to OPEB (7,751,170) 1,805,065 (5,946,105) Long-term liabilities were not due and payable in the current period.

Therefore, they were not reported in the Governmental Funds Balance Sheet.

Government-
Wide Statement
of Net Position
Internal
Service
Funds Total
Compensated absences - due within one year (1,720,664) 159,222 (1,561,442) Interest payable (22,139) 3,906 (18,233) Long-term debt - due within one year (363,844) 63,217 (300,627) Compensated absences - due in more than one year (5,161,992) 477,667 (4,684,325) Long-term debt - due in more than one year (733,094) 116,662 (616,432) Total pension liability (52,162,750) 5,059,450 (47,103,300) Total OPEB liability (10,241,830) 2,385,083 (7,856,747) Note Payable to successor agency (4,850,332) - (4,850,332) Total long-term liabilities (75,256,645)$ 8,265,207$ (66,991,438) Net Position of Governmental Activities 493,729,511$
City of Chino
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2024
Amounts reported for governmental activities in the statement of net position are different because:

See accompanying Notes to Basic Financial Statements.
38 This page intentionally left blank
39 City of Chino
Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
For the year ended June 30, 2024
General Fund
Facilities
Development
Special Revenue
Fund
City Affordable
Housing Special
Revenue Fund
Transportation
Grants Special
Revenue Fund
REVENUES:

Taxes 85,294,829$ -$ -$ -$ Licenses and permits 2,052,935 - - 11,457 Intergovernmental 1,853,181 - - 401,774 Charges for services 10,566,986 8,299,547 3,821 1,689 Investment income (loss) 4,919,763 4,236,577 517,528 113,484 Fines and forfeitures 1,259,890 - - - Contributions from property owners - - 194 - Other revenues 3,742,053 15,060 401,731 740,681 Total revenues 109,689,637 12,551,184 923,274 1,269,085 EXPENDITURES:

Current:

General government 8,504,099 - - - Public safety 65,069,014 - - - Public works 454,089 - - 11,750,022 Community development 16,580,456 589,353 792,624 - Parks and community services - - - - Capital outlay 207,911 - - 4,052,569 Debt service:

Principal 419,060 - - - Interest and fiscal charges 13,323 - - - Total expenditures 91,247,952 589,353 792,624 15,802,591

REVENUES OVER (UNDER)
EXPENDITURES 18,441,685 11,961,831 130,650 (14,533,506) OTHER FINANCING SOURCES (USES):

Transfers in 11,976,786 - - 15,492,127 Transfers out (24,019,695) (9,655,589) - (412,419) Total other financing sources (uses) (12,042,909) (9,655,589) - 15,079,708 Net change in fund balances 6,398,776 2,306,242 130,650 546,202 FUND BALANCES:

Beginning of year, as previously presented 68,652,185 82,632,642 10,517,459 5,362,784 Restatement - Prior Period Adjustments (42,594,043) - - - Beginning of year, as restated 26,058,142 82,632,642 10,517,459 5,362,784 End of year 32,456,918$ 84,938,884$ 10,648,109$ 5,908,986$ Special Revenue Funds
See accompanying Notes to Basic Financial Statements.
40 Community
District 03-03
Facilities
Capital Project
Park
Development
Capital Projects
Fund
Nonmajor
Governmental
Funds
Total
Governmental
Funds
-$ -$ 1,289,078$ 86,583,907$ - - - 2,064,392 - 600,463 11,892,376 14,747,794 - 2,130,984 2,689,566 23,692,593 - 767,688 980,667 11,535,707 - - 254,261 1,514,151 17,924,746 - 6,212,347 24,137,287 - 104,950 304,214 5,308,689 17,924,746 3,604,085 23,622,509 169,584,520 - - - 8,504,099 - - 203,497 65,272,511 - - 1,935,225 14,139,336 - - 370,253 18,332,686 - 231,064 11,069,913 11,300,977 15,488,098 2,548,902 23,011,244 45,308,724 - - 11,192 430,252 - - 608 13,931 15,488,098 2,779,966 36,601,932 163,302,516 2,436,648 824,119 (12,979,423) 6,282,004 - 1,426,363 14,313,220 43,208,496 - (5,095,483) (5,379,424) (44,562,610) - (3,669,120) 8,933,796 (1,354,114) 2,436,648 (2,845,001) (4,045,627) 4,927,890 23,502,681 15,786,426 19,923,226 226,377,403 - - - (42,594,043) 23,502,681 15,786,426 19,923,226 183,783,360 25,939,329$ 12,941,425$ 15,877,599$ 188,711,250$ Capital Project Funds
41 City of Chino
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Government-Wide Statement of Activities For the year ended June 30, 2024
Net Change in Fund Balances - Total Governmental Funds 4,927,890$ Governmental funds reported capital outlay as expenditures. However, in the Government-Wide Statement of Activities, the cost of those assets was allocated over their estimated lives as depreciation expense. This was the amount of capital assets recorded in the current period, net of the amount related to internal service funds. 19,170,286 Disposal of capital asset (119,189)
Depreciation & amortization expense on capital assets & intangible assets were reported in the Government-Wide Statement of Activities, but did not require the use of current financial resources. Therefore, depreciation & amortization expenses were not reported as expenditures in the governmental funds, net of the amount related to internal service funds. (9,013,466) Debt proceeds provide current financial resources to governmental funds, but issuing debt increased long-term liabilities in the Government-Wide Statement of Net Position. Repayment of debt was an expenditure in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement of Net Position.

Long-term debt principal repayments 430,252
Principal payments of successor agency loan 589,353
The amounts below included in the Statement of Activities do no provide or (require) the use of current financial resources and therefore are not reported as revenues or expenditures in the governmental funds (net change):

Interest expense (9,254)
Unavailable revenues 617,134
Compensated absences (529,757)
Current year employer pension contributions are recorded as expenditures in the governmental funds, however, these amounts are reported as a deferred outflow of resources in the Government- Wide Statement of Net Position. 3,502,683
Pension expense is reported in the Government-Wide Statement of Activities does not require the use of current financial resources, and therefore is not reported as expenditures in governmental funds. (15,294,506)
Current year employer OPEB contributions are recorded as expenditures in the governmental funds, however, these amounts are reported as a deferred outflow of resources in the Government- Wide Statement of Net Position. 455,206
OPEB expense is reported in the Government-Wide Statement of Activities does not require the use of current financial resources, and therefore is not reported as expenditures in governmental funds. (494,733) Internal service funds were used by management to charge the costs of certain activities, such as insurance and fleet management, to individual funds. The net revenue of the internal service funds was reported with governmental activities. 3,835,795
Change in Net Position of Governmental Activities 8,067,694$ Amounts reported for governmental activities in the Government-Wide Statement of Activities were different because:

See accompanying Notes to Basic Financial Statements.
42 This page intentionally left blank
43 City of Chino
Statement of Net Position
Proprietary Funds
June 30, 2024
Water Storm Drain Sewer
ASSETS
Current Assets:

Cash and investments 60,405,048$ 2,981,486$ 8,424,911$ Accounts receivable 4,249,280 478,882 3,111,563 Unbilled receivables 2,014,236 312,548 1,052,780 Interest receivable 266,338 13,478 38,082 Lease receivable 991,965 - - Inventories 198,610 - - Cash and investments- Restricted - - 19,934,261 Total current assets 68,125,477 3,786,394 32,561,597 Noncurrent:

Investment in joint venture 5,467,734 - - Capital assets:

Nondepreciable capital assets 14,717,064 2,684,062 1,107,256 Depreciable capital assets 161,304,114 95,188,347 93,071,350 Accumulated depreciation (63,717,009) (31,130,781) (44,732,814) Net capital assets 112,304,169 66,741,628 49,445,792 Total noncurrent assets 117,771,903 66,741,628 49,445,792 Total assets 185,897,380 70,528,022 82,007,389

DEFERRED OUTFLOWS OF RESOURCES
Pension related 1,718,993 937,633 1,093,904 OPEB related 230,208 125,567 146,495 Total deferred outflows of resources 1,949,201 1,063,200 1,240,399

LIABILITIES
Current liabilities:

Accounts payable 1,630,530 145,038 820,145 Deposits payable 1,482,903 - 19,934,261 Retentions payable 302,878 78,321 58,222 Interest Payable 316 - - Accrued benefits payable - - - Due to other governments 114,808 - - Unearned revenue 62,412 - - Estimated claims payable - current - - - Compensated absences - current 124,532 45,458 41,660 Long-term debt - current portion 34,621 - - Total current liabilities 3,753,000 268,817 20,854,288 Noncurrent liabilities:

Estimated claims payable - - - Advance from General Fund 593,681 - - Total pension liability 3,273,762 1,785,688 2,083,303 Compensated absences 373,595 136,373 124,979 Total OPEB liability 1,543,290 841,794 982,093 Long-term debt 1,190,161 - - Total noncurrent liabilities 6,974,489 2,763,855 3,190,375 Total liabilities 10,727,489 3,032,672 24,044,663

DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to leases 963,651 - - Pension related 41,409 22,587 26,351 OPEB related 1,167,984 637,082 743,263 Total deferred inflows of resources 2,173,044 659,669 769,614

NET POSITION
Net investment in capital assets 110,776,509 66,663,307 49,387,570 Unrestricted 64,169,539 1,235,574 9,045,941 Total net position 174,946,048$ 67,898,881$ 58,433,511$ Adjustment to reflect the consolidation of Internal Service Fund activities related to Enterprise Funds Net position of Business-Type Activities
Business-Type Activities
See accompanying Notes to Basic Financial Statements.
44 Sanitation
Sewer Lift
Station Totals
647,393$ 327,616$ 72,786,454$ 28,504,330$ 1,615,566 28,412 9,483,703 146,097
575,579 9,910 3,965,053 -
2,926 1,481 322,305 -
- - 991,965 -
- - 198,610 24,783
- - 19,934,261 -
2,841,464 367,419 107,682,351 28,675,210
- - 5,467,734 -
320,967 - 18,829,349 4,951,707
5,554,356 - 355,118,167 32,906,916
(378,677) - (139,959,281) (21,377,542)
5,496,646 - 233,988,235 16,481,081
5,496,646 - 239,455,969 16,481,081
8,338,110 367,419 347,138,320 45,156,291
468,817 - 4,219,347 2,656,628
62,784 - 565,054 355,773
531,601 - 4,784,401 3,012,401
745,681 20,719 3,362,113 1,307,135
- - 21,417,164 -
- - 439,421 77,145
- - 316 3,906
- - - 2,036,108
- - 114,808 1,181
- - 62,412 82,883
- - - 1,650,000
18,495 - 230,145 159,222
- - 34,621 63,217
764,176 20,719 25,661,000 5,380,797
- - - 5,496,659
- - 593,681 -
892,844 - 8,035,597 5,059,450
55,484 - 690,431 477,667
420,897 - 3,788,074 2,385,083
- - 1,190,161 116,662
1,369,225 - 14,297,944 13,535,521
2,133,401 20,719 39,958,944 18,916,318
- - 963,651 -
11,293 - 101,640 63,996
318,541 - 2,866,870 1,805,065
329,834 - 3,932,161 1,869,061
5,496,646 - 232,324,032 16,224,057
909,830 346,700 75,707,584 11,159,256
6,406,476$ 346,700$ 308,031,616 27,383,313$ (6,234,135)
301,797,481$
Nonmajor Enterprise Fund
Business-Type Activities Governmental
Activities -
Internal Service
Funds
45 City of Chino
Statement of Revenues, Expenses and Changes in Net Position Proprietary Funds
For the year ended June 30, 2024
Water Storm Drain Sewer
OPERATING REVENUES:

Charges for services 28,724,024$ 4,765,759$ 15,678,169$ Connection and extension fees 384,865 - -
Other operating 1,672,503 26,836 1,662,011
Total operating revenues 30,781,392 4,792,595 17,340,180 OPERATING EXPENSES:

Salaries, wages and benefits 5,385,138 1,864,238 1,934,029 Maintenance and operation 5,306,383 1,417,060 2,104,095 Contractual services 2,027,908 2,025,376 684,506
Purchased water for resale 15,270,221 - -
Materials and supplies 1,621,946 8,365 49,964
Utilities 1,081,744 - 9,326,899
Insurance, claims, and charges - - -
Depreciation & amortization 2,777,055 1,787,787 1,530,919 Miscellaneous - - -
Total operating expenses 33,470,395 7,102,826 15,630,412 Operating income (loss) (2,689,003) (2,310,231) 1,709,768 NONOPERATING REVENUES (EXPENSES):

Investment income (loss) 2,842,507 107,738 509,363
Grant revenue 126,516 - -
Gain (loss) from investment in joint venture 162,237 - - Interest expense (26,853) - -
Total nonoperating revenues (expenses) 3,104,407 107,738 509,363 Income before contributions and transfers 415,404 (2,202,493) 2,219,131 CONTRIBUTIONS AND TRANSFERS:

Transfers in 1,367,475 1,743,331 500,438
Transfers out (123,453) - (136,393)
Capital contributions 5,799,644 3,107,771 670,906
Total contributions and transfers 7,043,666 4,851,102 1,034,951 Change in net position 7,459,070 2,648,609 3,254,082 NET POSITION:

Beginning of year, as previously presented 166,900,405 64,650,036 54,530,257 Restatement - Prior Period Adjustments 586,573 600,236 649,172 Beginning of year, as restated 167,486,978 65,250,272 55,179,429 End of year 174,946,048$ 67,898,881$ 58,433,511$
Adjustment to reflect the consolidation of Internal Service Fund activities related to Enterprise Funds Change in net position of Business-Type Activities
Business-Type Activities
See accompanying Notes to Basic Financial Statements.
46 Sanitation
Sewer Lift
Station Totals
10,186,609$ 247,933$ 59,602,494$ 53,793,929$
- - 384,865 -
97,440 - 3,458,790 140,717
10,284,049 247,933 63,446,149 53,934,646
989,885 - 10,173,290 30,840,335
1,662,075 - 10,489,613 6,001,035
7,730,067 138,503 12,606,360 2,694,707
- - 15,270,221 -
122,529 - 1,802,804 1,018,858
- 77,445 10,486,088 1,778,937
- - - 2,396,911
116,094 - 6,211,855 2,363,951
- - - 299
10,620,650 215,948 67,040,231 47,095,033
(336,601) 31,985 (3,594,082) 6,839,613
5,061 14,523 3,479,192 -
870,382 - 996,898 -
- - 162,237 -
- - (26,853) (4,508)
875,443 14,523 4,611,474 (4,508)
538,842 46,508 1,017,392 6,835,105
- - 3,611,244 860,536
- - (259,846) (2,857,820)
- - 9,578,321 -
- - 12,929,719 (1,997,284)
538,842 46,508 13,947,111 4,837,821
5,567,444 300,192 (17,912,380)
300,190 - 40,457,872
5,867,634 300,192 22,545,492
6,406,476$ 346,700$ 27,383,313$
1,002,026
14,949,137$
Governmental
Activities -
Internal Service
Funds
Business-Type Activities
Nonmajor Enterprise Fund
47 City of Chino
Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2024
Water Storm Drain Sewer
CASH FLOWS FROM OPERATING ACTIVITIES:

Receipts from customers and users 27,962,736$ 4,725,302$ 19,366,035$ Receipts from interfund services provided - - - Other operating receipts 1,664,124 26,836 1,662,011 Payments to suppliers (27,553,244) (3,944,311) (13,076,873) Payments to employees and employee benefits (4,570,386) (1,454,798) (1,468,289) Net cash provided by operating activities (used in) (2,496,770) (646,971) 6,482,884 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:

Receipts from grants 126,516 - - Transfers from other funds 1,367,475 1,743,331 500,438 Transfers to other funds (123,453) - (136,393) Payment on note payable - - - Interfund borrowings - - - Net cash provided by noncapital financing activities (used in) 1,370,538 1,743,331 364,045

CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:

Payments related to General Fund advance (381,309) - - Payments for capital assets (4,000,884) (1,095,015) (4,964,392) Proceeds from settlement (34,245) - - Issuance of long-term debt 1,190,161 - - Interest paid (27,165) - - Net cash provided by capital and related financing activities (used in) (3,253,442) (1,095,015) (4,964,392) CASH FLOWS FROM INVESTING ACTIVITIES:

Investment income received 2,783,255 102,187 508,979 Net cash provided by investing activities (used in) 2,783,255 102,187 508,979 Net cash flows (1,596,419) 103,532 2,391,516 CASH AND INVESTMENTS - Beginning of year, as restated 62,001,467 2,877,954 25,967,656 CASH AND INVESTMENTS - End of year 60,405,048$ 2,981,486$ 28,359,172$

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) (2,689,003)$ (2,310,231)$ 1,709,768$ Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:

Depreciation & amortization 2,777,055 1,787,787 1,530,919 (increase) decrease in assets and deferred outflows:

Accounts receivable (1,382,832) (32,355) (1,749,748) Lease receivable 54,811 - - Unbilled receivables 135,859 (8,102) (70,195) Inventories (66,996) - - Deferred outflows - pensions 443,484 241,901 282,218 Deferred outflows - OPEB 28,405 15,495 18,077 Increase (decrease) in liabilities and deferred inflows:

Accounts payable and accrued liabilities (2,134,026) (508,155) (859,274) Deposits payable 80,637 - 5,507,809 Retainage payable (158,828) 14,645 (52,135) Due to other governments 114,808 - - Unearned revenue 20,183 - - Total pension liability (asset) 233,232 127,217 148,420 Total OPEB liability (312,919) (170,684) (199,131) Deferred inflows - pensions 6,663 3,634 4,240 Deferred inflows - OPEB 292,278 159,425 185,995 Deferred inflows - leases (63,190) - - Estimated claims liabilities - - - Compensated absences 123,609 32,452 25,921 Net cash provided by (used in) operating activities (2,496,770)$ (646,971)$ 6,482,884$ NONCASH TRANSACTIONS:

Capital contributions 5,799,644$ 3,107,771$ 670,906$ Business-Type Activities
See accompanying Notes to Basic Financial Statements.
48 Sanitation
Sewer Lift
Station Totals
10,173,467$ 245,356$ 62,472,896$ -$ - - - 53,793,929 97,440 - 3,450,411 140,717 (9,434,231) (203,282) (54,211,941) (13,164,082) (789,485) - (8,282,958) (30,532,087) 47,191 42,074 3,428,408 10,238,477 870,382 - 996,898 - - - 3,611,244 860,536 - - (259,846) (2,857,820) - - - (12,160,760) (248,946) - (248,946) - 621,436 - 4,099,350 (14,158,044) - - (381,309) - (323,559) - (10,383,850) (4,665,692) - - (34,245) (78,482) - - 1,190,161 - - - (27,165) (1,031) (323,559) - (9,636,408) (4,745,205) 2,135 13,987 3,410,543 - 2,135 13,987 3,410,543 - 347,203 56,061 1,301,893 (8,664,772) 300,190 271,555 91,418,822 37,169,102 647,393$ 327,616$ 92,720,715$ 28,504,330$ (336,601)$ 31,985$ (3,594,082)$ 6,839,613$ 116,098 - 6,211,859 2,363,951 34,724 (2,873) (3,133,084) (88,220) - - 54,811 - (47,866) 296 9,992 - - - (66,996) 102 120,950 - 1,088,553 685,382 7,746 - 69,723 43,901 80,598 12,666 (3,408,191) 798,475 - - 5,588,446 - - - (196,318) 10,729 (162) - 114,646 (44,744) - - 20,183 50,323 63,609 - 572,478 360,450 (85,342) - (768,076) (483,604) 1,817 - 16,354 10,297 79,712 - 717,410 451,703 - - (63,190) - - - - (855,413) 11,908 - 193,890 95,532 47,191$ 42,074$ 3,428,408$ 10,238,477$ -$ -$ 9,578,321$ -$ Governmental
Activities -
Internal Service
Funds
Business-Type Activities
Nonmajor Enterprise Fund
49 This page intentionally left blank
50 City of Chino
Statement of Fiduciary Net Position (Deficit)
Fiduciary Funds
June 30, 2024
Private Purpose
Trust Fund
Successor
Agency of the Custodial
Former RDA Funds
ASSETS
Cash and investments 4,228,900$ 17,489,220$
Cash and investments with fiscal agents 258 16,027,420 Taxes receivable - 158,339
Interest receivable 8,129 141,191
Prepaid expenses 119,755 -
Due from City of Chino 589,353 -
Notes receivable from City of Chino 4,850,332 - Total assets 9,796,727 33,816,170

DEFERRED OUTFLOWS

Deferred loss on refunding 486,584 -
Total deferred outflows of resources 486,584 -

LIABILITIES

Accrued interest payable 502,695 -
Due to other funds 4,450 -
Long-term liabilities:

Bonds payable - current 1,890,000 -
Bonds payable - noncurrent 39,226,995 -
Total liabilities 41,624,140 -

NET POSITION (DEFICIT)
Restricted for:

Individuals, organizations, and other governments - 33,816,170 Held in trust for private purposes (31,340,829) - Total net position (deficit) (31,340,829)$ 33,816,170$ See accompanying Notes to Basic Financial Statements.
51 City of Chino
Statement of Changes in Fiduciary Net Position (Deficit) Fiduciary Funds
For the year ended June 30, 2024
Private Purpose
Trust Fund
Successor
Agency of the Custodial
Former RDA Funds
ADDITIONS:

Taxes 3,223,455$ 20,430,880$
Investment income (loss) 154,708 1,294,521 Receipt of reserve funding - 2,502,337 Total additions 3,378,163 24,227,738
DEDUCTIONS:

Administrative costs 7,450 4,982,753
Payment of special tax debt - 16,711,218 Interest expense 1,387,751 110,602
Total deductions 1,395,201 21,804,573
Change in net position 1,982,962 2,423,165
NET POSITION (DEFICIT):

Beginning of year (33,323,791) 31,393,005
End of year (31,340,829)$ 33,816,170$
See accompanying Notes to Basic Financial Statements.
52 NOTES TO BASIC

FINANCIAL STATEMENTS

53 This page intentionally left blank.
54 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of Chino, California (the City), have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) as applied to governmental agencies. The Governmental Accounting Standards Board (GASB) is the accepted standard- setting body for establishing governmental accounting and financial reporting principles. The more significant of the City's accounting policies are described below.

A. Financial Reporting Entity
The City was incorporated February 1910 under the general laws of the state of California. The City operates under a Council-Manager form of government and provides the following services: public safety, public works, community development, parks and community services, and general administrative services.

The accompanying financial statements present the City and its component units, entities for which the City is considered financially accountable. Blended component units, although legally separate entities, are, in substance, part of the City's operations.

Blended Component Units
The City's component unit is considered to be a blended component unit. The governing board of the component unit is composed of the same membership as the City Council. The City may impose its will on the component unit, including the ability to appoint, hire, reassign, or dismiss management. There is also financial benefit/burden relationship between the City and this entity.

Management has determined the following component unit should be blended based on the criteria above:

The City of Chino Public Financing Authority (the Authority) was founded December 1, 1998, as a joint exercise of power authority between the City and the former Redevelopment Agency for the purpose of financing or refinancing public capital improvements. Separate financial statements are not prepared for the Authority.

B. Basis of Accounting and Measurement Focus
The accounting policies of the City conform to GAAP for local governmental units. 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 by providing a separate set of self-balancing accounts that comprise its assets, liabilities, fund balance, revenues and expenditures, or expenses, as appropriate.

Governmental resources are allocated to and accounted for in individual funds based upon the purpose of which they are to be spent and means by which spending activities are controlled.

Government-Wide Financial Statements
The City's 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 accompanied by a total column. Fiduciary activities of the City are not included in these statements.
55 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Government-Wide Financial Statements, Continued
These basic financial statements are presented on an economic resources measurement focus and the accrual basis of accounting. Accordingly, all of the City's assets, deferred outflows of resources, liabilities, and deferred inflows of resources, including capital assets, as well as infrastructure assets, and long-term liabilities, are included in the accompanying statement of net position. The statement of activities presents changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.

Certain types of transactions are reported as program revenues for the City in three categories:
 Charges for services
 Operating grants and contributions
 Capital grants and contributions
Certain eliminations have been made in regard to interfund activities. 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. In the statement of activities, internal service fund transactions have been eliminated; however, those transactions between governmental and business-type activities have not been eliminated. The following interfund activities have been subjected to this elimination process for government-wide purposes:
 Due to/from other funds
 Note receivable between funds
 Advances to/from other funds
 Transfers in/out
Governmental Fund Financial Statements
Governmental fund financial statements include a balance sheet and a statement of revenues, expenditures, and changes in fund balances for all major governmental funds and nonmajor funds aggregated. The City has presented all major funds that meet the required criteria. 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. 56 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Governmental Fund Financial Statements, Continued
The governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers property tax revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, and claims and judgments are recorded only when payment is due.

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

Property taxes, sales taxes, franchise taxes, licenses, grants, and interest associated with the current fiscal period are all considered to be susceptible to accrual and have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the government.

The City reports the following major governmental funds:

The General Fund is the general operating fund of the City. All general tax revenues and other receipts not allocated by law or contractual agreement to other funds are accounted for in this fund.

Expenditures of this fund include general operating costs not paid through other funds.

The Facilities Development Special Revenue Fund is used to account for the collection of development impact fees for the improvement and replacement of capital facilities in the City.

The City Affordable Housing Special Revenue Fund is used to account for receipts and disbursements for financial assistance to eligible home buyers and financial incentives to eligible developers. Sources of revenue include developer contributions, as well as repayment of home loans.

The Transportation Grants Special Revenue Fund is used to account for receipts and disbursements relating to federal and state transportation grants.

The Community Facilities District 03-03 Capital Projects Fund is used to account for the acquisition and development of capital projects financed by the issuance of Mello-Roos Community Facilities Bonds as required by the Mello-Roos Community Facilities Act of 1982.

The Park Development Fund Capital Projects Fund is used to account for the acquisition and development of parks and is financed by developer fees, state allocations, and other grant. 57 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Proprietary Fund Financial Statements
Proprietary funds are accounted for using the economic resources measurement focus and the accrual basis of accounting. Accordingly, all assets, deferred outflows of resources, liabilities, and deferred inflows of resources (whether current or noncurrent) are included on the statement of net position. The statement of revenues, expenses, and changes in net position presents increases (revenues) and decreases (expenses) in total net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. 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.

The City reports the following major Enterprise Funds:

The Water Fund is used to account for the City's water utility operations.

The Storm Drain Fund is used to account for the City's storm drain operations.

The Sewer Fund is used to account for the operations of the City's sewer system.

Internal Service Funds
Additionally, the City reports the following fund types:

Internal Service Funds are used to account for the financing of special activities that provide services within the City. Such activities include employee benefits, building management, liability insurance, central services, and equipment management.

Fiduciary Fund Financial Statements
Fiduciary fund financial statements include a statement of fiduciary net position and a statement of changes in fiduciary net position. Fiduciary funds are used to report trust arrangements under which principal and income benefit individuals, private organizations, or other governments. The City maintains two fiduciary fund types: a private-purpose trust fund and custodial funds. Fiduciary fund types are accounted for according to the nature of the fund. The private-purpose trust fund and the custodial funds use the economic resources measurement focus and the accrual basis of accounting.

The City reports the following private-purpose trust fund:

The Successor Agency to the Redevelopment Agency of the City of Chino Private-Purpose Trust Fund is used to account for the assets and liabilities transferred from the former Redevelopment Agency of the City as of February 1, 2012, as well as the activities of the Successor Agency related to required obligation payments and funds received for these payments.
58 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued B. Basis of Accounting and Measurement Focus, Continued Fiduciary Fund Financial Statements, Continued
The City reports the following custodial funds:

Community Facilities District Funds are used to account for the collection of assessments from owners of property within their respective districts and for the remittance of such assessments to the bondholders as required by the Mello-Roos Community Facilities Act of 1982.

C. Cash and 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 that maintains the general characteristics of a demand deposit account.

Investments are reported in the accompanying basic financial statements at fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Investments in external pools are valued based on the stated fair value represented by the external pool.

Changes in fair value that occur during a fiscal year are recognized as investment income or loss reported for that fiscal year. Investment income or loss includes interest earnings, changes in fair value, and any gains or losses realized upon the liquidation or sale of investments. The City pools cash and investments of all funds, except for assets held by fiscal agents. Each fund's share in this pool is displayed in the accompanying financial statements as cash and investments.

D. Cash and Investments with Fiscal Agents
Cash and investments with fiscal agents are restricted for the redemption of bonded debt and the acquisition and construction of capital projects.

E. Interfund Transactions
Activities between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as due to/from other funds (i.e., current portion of interfund loans) and advances from/to other funds (i.e., noncurrent portion of interfund loans). Any residual balances outstanding between the governmental activities and business-type activities are reported in the governmental-wide financial statements as internal balances.

F. Inventory
Inventories are stated at cost using the average cost method. The City utilizes the consumption method of accounting for inventories. Inventories of operating supplies are maintained and accounted for in the General Fund and the Equipment Management Internal Service Fund. The inventory maintained by the Water Utility Enterprise Fund consists primarily of water meters, water pipes, valves, and fittings. 59 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued G. Capital Assets
Capital assets include land, site improvements, buildings and improvements, equipment, and infrastructure assets. General infrastructure assets consist of roads, curbs and gutters, sidewalks, medians, street trees, street signs, bus shelters, bridges, trails, traffic signals, storm drains/catch basins, sewer manholes, and sewer lines. Capital assets are defined by the City as assets with an initial cost of more than $5,000 and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value as of the date received. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized.

Capital assets are depreciated using the straight-line method over the following estimated useful lives:

H. Employee Compensated Absences
It is the City's policy to permit employees to accumulate earned but unused vacation, compensatory time, and sick leave (compensated absences). All compensated absences are accrued when incurred in the government-wide and proprietary fund financial statements. A liability for those amounts is recorded in the governmental funds only if the liability has matured as a result of employee resignations or retirements. Compensated absences are primarily liquidated in the General Fund.

I. Claims Payable
When it is probable that a claim liability has been incurred at year-end and the amount of the loss can be reasonably estimated, the City records the estimated loss, net of any insurance coverage, under its self- insurance program claims payable, which includes an estimate for incurred but not reported claims and is recorded in the Liability Insurance Internal Service Fund.

J. Unearned Revenue
Unearned revenue is recognized for transactions for which revenue has not yet been earned. Unearned revenue includes monies received in advance from the fiscal agents on the amounts deposited in the reserve funds for various bonds and prepaid charges for services.

K. Property Taxes
Property taxes are an enforceable lien on property as of January 1 of each year. Taxes are levied on each July 1 and are payable in two installments on November 1 and February 1, which become delinquent on December 10 and April 10, respectively. The County of San Bernardino bills and collects property taxes for the City Remittance of property taxes to the City is accounted for in the City's General Fund.

Building, Improvements and Leasehold Interests 35 to 50 Years Improvements Other than Building 50 Years
Lines and Mains 50 Years
Infrastructure 25 to 50 Years
Furnitures, Machinery and Equipment 3 to 15 Years
60 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued L. Prepaids
Certain payments to vendors for services applicable to future accounting periods are recorded as prepaids in both the government-wide financial and fund financial statements. Prepaid amounts are expensed during the periods benefited.

M. Net Position and Fund Balances
Government-Wide Financial Statements
In the government-wide financial statements, net position is 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 and liabilities that are 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.

Unrestricted Net Position - This amount is all net position that does not meet the definition of "net investment in capital assets" or "restricted net position." When an expense is incurred for purposes for which both restricted and unrestricted net positions are available, the City's policy is to apply restricted net position first.

Fund Financial Statements
The following classifications describe the relative strength of the spending constraints placed on the purposes for which resources can be used:

Nonspendable - amounts that are not in a spendable form (such as inventory), that are required to be maintained intact, or the long-term note receivable in the general fund.

Restricted - amounts constrained to specific purposes by their providers (such as granters, bondholders, and higher levels of government) through constitutional provisions or by enabling legislation.

Committed - amounts constrained to specific purposes by a government itself using the highest level of decision-making authority; to be reported as committed, amounts cannot be used for any other purpose unless the government takes the same highest level of action to remove or change the constraint. The City Council establishes (and modifies or rescinds) fund balance commitments by passage of a resolution.

Assigned - amounts a government intends to use for a specific purpose; intent can be expressed by the governing body or by an official or body to which the governing body delegates the authority. The City delegates the authority to assign amounts to be used for specific purposes to the Finance Director for the purpose of reporting these amounts in the annual financial statements.

Unassigned - amounts that are for any purpose; positive amounts are reported only in a general fund, in the event that funds other than the general fund include an unassigned fund balance, it would be a deficit.
61 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued M. Net Position and Fund Balances, Continued
Fund Financial Statements, Continued
When expenditures are incurred for purposes for which restricted, committed, assigned, or unassigned fund balances are available, the City's policy is to apply the restricted fund balance first, committed second, then assigned fund balance, and finally unassigned fund balance.

N. Deferred Outflows/Inflows of Resources
In addition to assets, the statement of net position reports a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to future periods (expense/expenditure) until that time.

In addition to liabilities, the statement of net position and governmental funds balance sheet reports a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to future periods and will not be recognized as an inflow of resources (revenue) until that time.

O. Leases
Lessor
The City is a lessor for a noncancellable leases of wireless cell towers and buildings. The City recognizes a lease receivable and a deferred inflow of resources in the applicable governmental activities or business- type activities in the government-wide and in the governmental and proprietary fund financial statements. At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term, on a straight-line basis.

Key estimates and judgments include how the City determines (1 ) the discount rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease receipts.  The City uses its estimated incremental borrowing rate as the discount rate for leases.  The lease term includes the noncancellable period of the lease.  Lease receipts included in the measurement of the lease receivable are composed of fixed payments from the lessee.

The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable. 62 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

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

Q. New Accounting Pronouncements
GASB 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. This Statement defines accounting changes as changes in accounting principles, changes in accounting estimates, and changes to or within the financial reporting entity and describes the transactions or other events that constitute those changes. As part of those descriptions, for (1) certain changes in accounting principles and (2) certain changes in accounting estimates that result from a change in measurement methodology, a new principle or methodology should be justified on the basis that it is preferable to the principle or methodology used before the change. That preferability should be based on the qualitative characteristics of financial reporting—understandability, reliability, relevance, timeliness, consistency, and comparability. This Statement also addresses corrections of errors in previously issued financial statements. This Statement prescribes the accounting and financial reporting for (1) each type of accounting change and (2) error corrections. This Statement requires that (a) changes in accounting principles and error corrections be reported retroactively by restating prior periods, (b) changes to or within the financial reporting entity be reported by adjusting beginning balances of the current period, and (c) changes in accounting estimates be reported prospectively by recognizing the change in the current period. The requirements of this Statement for changes in accounting principles apply to the implementation of a new pronouncement in absence of specific transition provisions in the new pronouncement. This Statement also requires that the aggregate amount of adjustments to and restatements of beginning net position, fund balance, or fund net position, as applicable, be displayed by reporting unit in the financial statements. The City restated its beginning fund balances as part of implementing this standard. See disclosure in Note 19.

R. Estimates
The preparation of the basic financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the disclosure of contingent assets and liabilities at the date of the basic financial statements and the related reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management believes that the estimates are reasonable. 63 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS
A. Cash and Investments
Cash and investments are presented on the statements of net position as follows at June 30, 2024:

Cash, cash equivalents, and investments consisted of the following at June 30, 2024:

The carrying amounts of the City’s deposits with financial institutions were $3,876,964 at June 30, 2024.

Bank balances before reconciling items were $3,399,152 at that date with total amount insured or collateralized with securities held by the pledging financial institutions in the City’s name.

B. Investments Authorized by the California Government Code and the City’s Investment Policy The Table below identifies the investment types that are authorized for the City by the California Government Code (or the City’s investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the City’s investment policy, were more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investment of debt proceeds held by bond trustees that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code or the City’s investment policy.

Fiduciary Funds
Governmental Business-Type Statement of
Activities Activities Total Net position Total
Cash and investments 188,601,980$ 72,786,454$ 261,388,434$ 21,718,120$ 283,106,554$ Restricted:

Cash and investments - 19,934,261 19,934,261 - 19,934,261 Cash and investments
with fiscal agents 31,080,685 - 31,080,685 16,027,675 47,108,360$ Total 219,682,665$ 92,720,715$ 312,403,380$ 37,745,795$ 350,149,175$ Government-Wide Statement of Net Position
Petty cash 21,800$
Deposits with financial institutions 3,876,964
Investments 346,250,414
Total cash and investments 350,149,178$
64 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
B. Investments Authorized by the California Government Code and the City’s Investment Policy, Continued

C. Investments Authorized by Debt Agreements
Investments of debt proceeds held by bond trustees are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the City’s investment policy.

Investments authorized for funds held by bond trustees include U.S Treasury Obligations, U.S.

Government-Sponsored Agency Securities, Local Agency Bonds, Banker’s Acceptance, Money Market Mutual Funds, and Investment Contracts. There are no limitations on the maximum amount that can be invested in one issuer, maximum percentage allowed, or the maximum maturity of an investment, except for the maturity of Banker’s Acceptance, which are limited to one year. Investment in Investment Contracts have to be approved by the Municipal Bond Insurer.

Maximum
Percentage Maximum
Maximum of Amount Investment
Authorized Investment Type Maturity of Portfolio* in One Issuer U.S Treasury Obligations 5 Years None None
U.S Governmental-Sponsored
Agency Securities 5 Years 50% 40%
Time Certificates Of Deposits 5 Years 20% 250,000$
Banker's Acceptance 180 Days 10% 2,000,000$
Negotiable Certificates Of Deposits 5 Years 20% 250,000$ Repurchase Agreements (1) 2 Weeks 10% 5,000,000$
Local Agency Investment Fund N/A 75,000,000$ 75,000,000$ Per Entity Per Entity
Los Angeles County Investment Pool N/A 100,000,000$ None CalTRUST Investment Pool N/A 100,000,000$ None
Mutual Funds (Investment Pool
Government-Sponsored Agency Securities) N/A 10% 2,000,000$ *Excluding amounts held by bond trustee that are not subject to California Government Code restrictions. (1) Repurchase agreements must be 102% collateralized by US Treasury Obligations that are free and clear of any third-party lien or claim.

N/A – Not Applicable
65 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
D. Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter-term and longer-term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations. Information about the sensitivity of the fair values of the City’s investments (including investments held by bond trustee) of the market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investment by maturity:

E. Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating as required by (where applicable) the California Government Code, the City’s investment policy, or debt agreements, and the actual rating, as reported by Standard & Poor’s, as of year-end for each investment type. 12 Months 13 - 24 25 - 60
Investment Type or Less Months Months Total
Local Agency Investment Fund 16,510,251$ -$ -$ 16,510,251$ Los Angeles County Investment Pool 28,686,102 - - 28,686,102 CalTrust Investment Pool 101,637,021 - - 101,637,021 U.S Government-Sponsored Agency Securities:

FFCB 10,642,170 12,591,060 15,240,484 38,473,714 FHLB 14,754,060 10,430,040 38,656,260 63,840,360 FHLMC 8,919,290 2,995,980 14,960,970 26,876,240 U.S Treasury Note 2,969,580 9,811,707 5,633,880 18,415,167 Negotiable Certificates of Deposit 995,920 1,255,083 2,452,198 4,703,201 Held by Bond Trustee:

Money Market Mutual Funds 47,108,358 - - 47,108,358 Total 232,222,752$ 37,083,870$ 76,943,792$ 346,250,414$ Investment Maturities in Months
66 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
E. Disclosures Relating to Credit Risk, Continued
All investment agreements and investment agreement providers must comply with the credit rating requirements as contained in the underlying legal documents authorizing the issuance of the associated bond issues. Each of the investment agreements that the City or the Successor Agency to the former Redevelopment Agency (or Bank of New York Mellon acting as a trustee bank on behalf of the City) has entered into carries a credit rating downgrade trigger that is intended to protect the City or the Successor Agency against the deterioration of the credit rating of the investment agreement provider. While each investment agreement may have differing specifications with respect to the credit ratings downgrade trigger, the basic arrangement is that if the investment agreement provider credit rating falls below a certain level, it triggers one of several possible actions aimed at curbing or strengthening the ratings decline. These possible actions include: (1) the investment agreement provider posting the highly rated collateral at levels determined by the credit rating agencies, (2) the investment agreement provider assigning the investment agreement to a new provider that enjoys a higher credit rating, or (3) the investment agreement provider pays the City or the Successor Agency cash representing the balance held under the account including accrued interest.

The table below represents the credit ratings of the City’s investment as of June 30, 2024:

Minimum
Legal Not Required
Investment Type Total rating AAA AA+ Unrated to be Rated Local Agency Investment Fund 16,510,251$ (1) -$ -$ 16,510,251$ -$ Los Angeles County
Investment Pool 28,686,102 (1) - - 28,686,102 - CalTRUST Investment Pool:

Short term 48,460,725 (1) - 48,460,725 - - Liquidity 53,176,296 (1) - - 53,176,296 - U.S Government-Sponsored
Agency Securities:

FFCB 38,473,714 (1) - 38,473,714 - - FHLB 63,840,360 (1) - 63,840,360 - - FHLMC 26,876,240 (1) - 26,876,240 - - U.S Treasury Note 18,415,167 (1) - - - 18,415,167 Negotiable Certificates of Deposit 4,703,201 (1) - - 4,703,201 - Held By Bond Trustee:

Money Market Mutual
Funds 47,108,358 AAA 47,108,358 - - - Total Investments 346,250,414$ 47,108,358$ 177,651,039$ 103,075,850$ 18,415,167$ (1) Not applicable.
67 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
F. Concentration of Credit Risk
The investment policy of the City contains no limitation on the amount that can be invested in any one issuer beyond that stipulated by the California Government Code. As of June 30, 2024, the City had investments in the Federal Farm Credit Bank of $38,473,714, Federal Home Loan Bank of $63,840,360, Federal Home Loan Mortgage Corp. $26,876,240 and Federal U.S. Treasury Notes of $18,415,167 which represents 5% or more of total City investments.

G. Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker-dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party.

The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits: The California Government Code requires that a financial institution secure deposits made by state or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The market value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies. California law also allows financial institutions to secure the City’s deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits. At June 30, 2024, the City’s deposits (bank balances) were insured by the Federal Depository Insurance Corporation or collateralized as required under California law.

H. Investment in State Investment Pool
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by the California Government Code under the oversight of the treasurer of the state of California. The fair value of the City’s investment in this pool is reported in the accompanying financial statements at amounts based upon the City’s pro rata share of the fair value provided by LAIF for the entire LAIF portfolio. The balance available for withdrawal is based on the accounting records maintained by LAIF. LAIF is not rated.

I. Investment in County Investment Pool
The Los Angeles County Pooled Investment Fund (LACPIF) is a pooled investment fund program governed by the Los Angeles County Board of Supervisors and administered by the Los Angeles County Treasurer and Tax Collector. Investment in the LACPIF are highly liquid, as deposits and withdrawals can be made at any time without penalty. LACPIF does not impose any maximum investment limit. The fair value of the City’s voluntary 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 LACPIF for the entire LACPIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LACPIF. 68 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
J. Investment in CalTRUST Investment Pool
CalTRUST is a joint powers agency authority created by local public agencies to provide a convenient method for local public agencies to pool their assets for investment purposes. CalTRUST is not subject to any regulatory oversight but is governed by a Board of Trustees (the Board) made up of experienced local agency treasurers and investment officers. The board sets overall policies for the program and selects and supervises the activities of the investment manager and other agents. Investments in CalTRUST are highly liquid, as deposits can be converted to cash within 24 hours without loss of interest. All CalTRUST accounts comply with the limits and restrictions placed on local agency investments by the California Government Code. CalTRUST imposes a $250,000 minimum investment; however, there is no maximum limit. The fair value of the City’s voluntary investment in this pool is reported in the accompanying financial statements at amounts based upon the City’s percentage interest of the fair value provided by CalTRUST for the CalTRUST accounts (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by CalTRUST.

K. Fair Value Measurements
The City categorizes its fair value measurement within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the relative inputs used to measure the fair value of the investments. Level 1 inputs are quoted prices in active markets for identical assets, Level 2 inputs are valued using a matrix pricing technique in where investments are valued based on the investments' relationship to benchmark quoted prices, and Level 3 inputs are significant unobservable inputs.
69 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

2. CASH AND INVESTMENTS, Continued
K. Fair Value Measurements, Continued
The City has the following recurring fair value measurements as of June 30, 2024:

3. INTERFUND BALANCES AND TRANSFERS
Due to/Due From Other Funds
At June 30, 2024, the City had the following short-term interfund receivables and payables.

The interfund amounts between the General Fund and Non-Major Governmental Funds are for short-term loans to cover operations.

U.S Government - Sponsored
Agency Securities:

FFCB 38,473,714$ -$ 38,473,714$ -$ FHLB 63,840,360 - 63,840,360 - FHLMC 26,876,240 - 26,876,240 - U.S Treasury Note 18,415,167 - 18,415,167 - Negotiable Certificates of Deposit 4,703,201 - 4,703,201 - Total Investment by
Fair Value Level 152,308,682 -$ 152,308,682$ -$ Investment not subject for
Leveling Disclosure:

Local Agency Investment Fund 16,510,251
Los Angeles County Investment Pool 28,686,102
CalTRUST Investment Pool:

Short - Term 48,460,725
CalTRUST Liquidity 53,176,296
Held Bond by Trustee:

Money Market Mutual Funds 47,108,358
Total Investments Not
Subject for Fair Value
Measurements 193,941,732
Total Investments 346,250,414$
Due From Due To
Other Funds General Fund
Governmental Funds:

General Fund $ 1,023,135 $ - Non-Major Governmental Funds - 1,023,135 Total $ 1,023,135 $ 1,023,135
70 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

3. INTERFUND BALANCES AND TRANSFERS, Continued
Transfers
The City had the following transfers for the year ended June 30, 2024:

Transfers provided funding for capital projects, capital acquisitions, debt service, and payment of in-lieu fees by Enterprise Funds. The transfers between the General Fund and the Transportation Grants Special Revenue Fund and Other Governmental Funds are to pay for the General Fund’s share of landscape and lighting costs, General Fund backfill of transportation programs, and the General Fund subsidy for community service programs. The transfers between the Facilities Development Special Revenue Fund and the General Fund and the Water and Storm Drain Enterprise Funds are to pay for current-year project expenditures. Transfers between the Facilities Development Special Revenue Fund and Internal Service Funds are for current-year project expenditures. Transfers from the Facilities Development Special Revenue Fund and Transportation Grants Special Revenue Fund are for project-related expenditures. The transfers between the Internal Service Funds and Other Governmental Funds are for the cost of the Civic Center JPA Maintenance Program. The transfers between Other Governmental Funds and the General Fund and Transportation Grants Special Revenue Fund are for project-related expenditures.

Park Storm
Transportation Development Other Water Drain Sewer Internal General Grant Special Capital Project Governmental Enterprise Enterprise Enterprise Service Transfers Out Fund Revenue Fund Fund Fund Fund Fund Fund Fund Total General Fund -$ 7,880,121$ 1,390,000$ 14,208,756$ -$ -$ -$ 540,818$ 24,019,695$ Facilities Development
Special revenue Fund 2,149,674 3,798,436 - - 1,367,475 1,743,331 500,438 96,235 9,655,589 Transportation Grants
Special revenue Fund 412,419 - - - - - - - 412,419 Park Development 5,095,483 - - - - - - - 5,095,483 Capital Project Fund
Other Governmental Fund 1,565,854 3,813,570 - - - - - - 5,379,424 Water Enterprise Fund - - 36,363 - - - - 87,090 123,453 Sewer Fund - - - - - - - 136,393 136,393 Internal Service Fund 2,753,356 - - 104,464 - - - - 2,857,820 Total 11,976,786$ 15,492,127$ 1,426,363$ 14,313,220$ 1,367,475 $ 1,743,331 $ 500,438 $ 860,536 $ 47,680,276$ Transfer In
71 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

3. INTERFUND BALANCES AND TRANSFERS, Continued
Advances to / from Other Funds
At June 30, 2024, the City had the following advances to/from other funds:

The advances between the General Fund and other Funds are considered long-term in nature.

Advance from General Fund – Meter Replacement
During the year ended June 30, 2016, the General Fund advanced to the Water Fund $3,500,000 to assist the Water Fund with its Water Meter Retrofit Project. The advance is due over a 10-year period and carries an interest rate of 3.0%. Semi-annual installments of $203,860 are due July 1 and January 1.

The debt service requirements to maturity of the advance are as follows:

During the year ended June 30, 2024, the General Fund advanced to the Measure I Valley SubArea Program Fund $1,629,181 for the purpose of funding the ongoing CIP projects. The City typically funds CIP projects upfront using unencumbered funds such as the General Fund, Development Impact Fees, Measure I, or Gas Tax, and then seeks periodic reimbursements from SBCTA, Caltrans, or other granting agencies as applicable.

On the government-wide financial statements, advances are displayed as internal balances.

City Note Payable/Receivable
In February of 2018, the Chino City Council authorized the payment of $69,121,927 to CalPERS to reduce the City's outstanding unfunded liability of $86.4 million. At that time, the City also authorized the creation of the note payable from the Employee Benefits Fund to the General Fund with a fixed interest rate of 2.0% per annum that will mature in 20 years to repay the General Fund for providing the resources for making this payment to CalPERS.

During fiscal year 2023-24, the City decided to eliminate the interfund receivable/payable between the General Fund and the Employee Benefit Fund. this elimination resulted in the restatements of the beginning fund balance/net position for the General Fund and the Employee Benefits fund at 7/1/2023. Refer Note 19 for further details of these restatements.

Advance From Advance To
General Fund Other Funds
Governmental Funds:

General Fund $ - $ 2,222,862 Non-Major Governmental Funds 1,629,181 - Proprietary Funds:

Water Fund 593,681 - Total $ 2,222,862 $ 2,222,862
Year Ending June 30, Principal Interest Total
2025 $ 392,834 $ 14,886 407,720 $ 2026 200,847 3,013 203,860 Total $ 593,681 $ 17,899 $ 611,580 72 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

4. LOANS RECEIVABLE
As of June 30, 2024, the City had outstanding loans related to the following loan programs:

The former Redevelopment Agency provided deferred-payment rehabilitation and affordable housing loans to qualifying low-income households in connection with its housing rehabilitation and affordable housing programs. These loans are now accounted for in the City's Affordable Housing Special Revenue Fund. These loans are secured by deeds of trust and bear interest at either 0% or 3%. The terms of the loans can range from 10 to 30 years. Repayments have been deferred until the end of the loans or upon sale. As a result of the long- term nature of these loans and their repayment terms, the City has established allowances in amounts equal to the outstanding loan balances. Repayments will be recognized as revenue upon receipt.

The CDBG and HOME Investment Partnership rehabilitation loans were made available to qualifying low- income households in connection with the City's rehabilitation programs. These loans are secured by second trust deeds and do not bear interest. Repayments are due either upon sale or transfer of the property. Loan repayments are to be repurposed for eligible CDBG and HOME grant purposes or returned to the granting agency; therefore, the outstanding loan balances are offset by the liability, due to other governments.

The HOME Investment Partnership and NSP home-buyer loans were made available to qualifying low- income households in connection with the City's affordable housing programs. The term of the HOME loans is 30 years, and the term of the NSP loans is 15 years. All loans bear no interest and are secured by deeds of trust. No repayments are due unless certain events, such as the sale of the home or transfer of title, occur first.

These loans contain provisions for forgiveness of debt if certain conditions are met. As a result of the long- term nature of these loans and the possibility that the loans could be forgiven, in part or in whole, the City has established allowances in amounts equal to the outstanding loan balances.

Affordable Housing Special Revenue Fund:

Home Improvement Loans- RDA 1,404,256$
First-Time Home-Buyer In-Fill Housing Loans 1,799,750
First-Time Home-Buyer Loans 22,500
Home Loans 6,332,565
Subtotal 9,559,071
Less: allowances (9,559,071)
Total Affordable Housing Special Revenue Fund -$
Other Governmental Funds:

CDBG Rehabilitation Loans 47,834$
HOME Investment Partnership Rehabilitation Loans 24,914 HOME Investment Partnership Home-buyer Loans 192,613
CalHOME Loans 1,791,299
NSP Home-Buyer Loans 49,131
Subtotal 2,105,791
Less: allowances (241,744)
Total Other Governmental Funds 1,864,047$
73 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

4. LOANS RECEIVABLE, Continued
The City has three loan programs that are funded with CalHome grant proceeds. These loans are secured by a deed of trust and bear interest at either 0% or 3%. Repayments are not required until the end of the term of the loan unless certain events, such as the sale of the home or transfer of title, occur first. One of the loan programs provides for a forgiveness of debt if certain conditions are met. Loan repayments are to be repurposed for eligible CalHome grant purposes or returned to the granting agency; therefore, the outstanding loan balances of the three loan programs are offset by the liability, due to other governments.

5. NOTES RECEIVABLE – SUCCESSOR AGENCY
In June of 2009, the former redevelopment agency approved a loan of up to $18,100,000 to the City for the cost of installation and construction of fire station facilities. The loan is to be repaid with fire development impact fees as those fees are collected from developers. The outstanding balance of the note as of June 30, 2024, is $4,850,332.

6. LOANS RECEIVABLE – DEVELOPERS
On December 1, 2012, the City entered into an Affordable Housing and Loan Agreement with IVY at College Park LP. for $7.2 million. The loan bears interest at a rate of 1% annually, and all outstanding principal and accrued unpaid interest is due December 1, 2067. The borrower will repay the City annual payments equal to

23.68% of the project cash flow for the preceding calendar year. The outstanding balance at June 30, 2024, is $7,200,000.

On October 6, 2015, the City entered into an Affordable Housing and Loan Agreement with BHC College Park II, L.P. for $2.8 million. The loan bears interest at a rate of 1% annually, and all outstanding principal and accrued unpaid interest is due October 6, 2070. The borrower will repay the City annual payments equal to 50% of the project cash flow for the following calendar year. The outstanding balance at June 30, 2024, is $2,800,000. Both loans were used to build residential rental units for low- to moderate-income households and are secured by a deed of trust with assignment of rent amounts.

Due to the long-term nature of these loans and the unknown timing of principal and interest repayments, the City has established allowances equal to the loan amounts. Principal and interest on these loans will be recognized when payments are received.

7. LEASE RECEIVABLE
The City, acting as lessor, leases wireless cell towers and buildings under long-term, noncancelable lease agreements. The leases expire at various dates through 2039 reported in the General Fund, Other Governmental Funds, and Proprietary Funds. The agreements have interest rates ranging from 0.269% to

2.266%. During the year ended June 30, 2024, the City recognized $144,278 and $19,428 in lease revenue and interest revenue, respectively, pursuant to these contracts. 74 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

7. LEASE RECEIVABLE, Continued
The future lease payments on the leases as of June 30, 2024 are as follows:

Year Ending June 30, Principal Interest Total Principal Interest Total 2025 $ 90,363 $ 20,122 $ 110,485 $ 55,909 $ 1,556 $ 57,465 2026 90,872 22,181 113,053 57,040 1,746 58,786 2027 91,201 24,245 115,446 58,200 1,943 60,143 2028 75,338 22,531 97,869 59,395 2,148 61,543 2029 70,370 27,017 97,387 60,622 2,584 63,206 2030-2034 250,029 68,517 318,546 322,767 16,588 339,355 2035-2039 161,740 16,256 177,996 359,050 20,671 379,721 2040 5,704 1,706 7,410 18,982 1,311 20,293 Total
$835,617 $202,575 $1,038,192 $991,965 $48,547 $1,040,512 Governmental Activities Business-Type Activities
75 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

8. CAPITAL ASSETS
A. Government-Wide Financial Statements
A summary of changes in the governmental activities capital assets at June 30, 2024, is as follows:

Depreciation and amortization expenses were charged to functions/programs of the primary government as follows:

Balance at Balance at
July 1, 2023 Additions Retirements Transfers June 30, 2024 Governmental Activities:

Capital assets, not being depreciated
Land $ 89,137,061 $ - $ - $ - 89,137,061 $ Construction in progress 30,338,387 11,810,214 (148,929) (5,796,856) 36,202,816 Total capital assets not being depreciated 119,475,448 11,810,214 (148,929) (5,796,856) 125,339,877 Capital assets being depreciated:

Buildings 95,703,907 237,840 - - 95,941,747 Improvements other than buildings 39,881,165 1,975,835 - 476,434 42,333,434 Furniture, machinery, and equipment 36,263,567 2,824,388 (938,341) - 38,149,614 Infrastructure 215,341,028 6,860,906 - 5,320,422 227,522,356 Lease assets 711,387 - - - 711,387 SBITA assets 1,541,863 181,373 - - 1,723,236 - Total capital assets being depreciated 389,442,917 12,080,342 (938,341) 5,796,856 406,381,774 Less accumulated depreciation:

Buildings (27,811,034) (1,893,723) - - (29,704,757) Improvements other than buildings (15,679,799) (1,060,499) - - (16,740,298) Furniture, machinery, and equipment (27,818,797) (2,543,802) 913,157 - (29,449,442) Infrastructure (116,882,466) (5,189,744) - - (122,072,210) Less accumulated amortization:

Lease assets (184,114) (210,262) - - (394,376) SBITA assets (399,517) (479,041) - - (878,558) Total accumulated depreciation and amortization (188,775,727) (11,377,071) 913,157 - (199,239,641) Total capital assets being depreciated, net 200,667,190 703,271 (25,184) 5,796,856 207,142,133 Governmental activities capital assets, net 320,142,638$ 12,513,485$ (174,113)$ -$ 332,482,010$ Governmental Activities : Depreciation Amortization Total General Government 555,843$ -$ 555,843$ Public Safety 850,579 - 850,579 Public Works 1,110,693 407,233 1,517,926 Community Services 319,081 35,038 354,119 Parks and Recreation 544,909 - 544,909 Internal Service Fund 2,116,919 247,032 2,363,951 Unallocated Infrastructure Depreciation 5,189,744 - 5,189,744 Total depreciation/amortization expense 10,687,768$ 689,303$ 11,377,071$ 76 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

8. CAPITAL ASSETS, Continued
A. Government-Wide Financial Statements, Continued
A summary of changes in the business-type activities capital assets at June 30, 2024, is as follows:

Depreciation and amortization expense were charged to functions/programs of the primary government as follows:

Balance at Balance at
July 1, 2023 Additions Retirements Transfers June 30, 2024 Business-Type Activities:

Capital assets, not being depreciated
Land $ 1,140,259 151,310$ -$ -$ 1,291,569$ Construction in progress 36,044,142 10,398,192 (165,656) (28,738,898) 17,537,780 Total capital assets not being depreciated 37,184,401 10,549,502 (165,656) (28,738,898) 18,829,349 Capital assets being depreciated:

Buildings and structures 9,791,978 - - - 9,791,978 Improvements other than buildings 306,194,654 9,578,321 - 28,738,898 344,511,873 Furniture, machinery, and equipment 710,544 - - - 710,544 SBITA assets 103,772 - - - 103,772 Total capital assets being depreciated 316,800,948 9,578,321 - 28,738,898 355,118,167 Less accumulated depreciation:

Buildings and structures (4,478,035) (218,338) - - (4,696,373) Improvements other than buildings (128,696,124) (5,936,813) - - (134,632,937) Furniture, machinery, and equipment (538,675) (22,113) - - (560,788) Less accumulated amortization:

SBITA assets (34,592) (34,591) - - (69,183) Total accumulated depreciation and amortization (133,747,426) (6,211,855) - - (139,959,281) Total capital assets being depreciated, net 183,053,522 3,366,466 - 28,738,898 215,158,886 Business-type capital assets, net 220,237,923$ 13,915,968$ (165,656)$ -$ 233,988,235$ Business-Type Activities: Depreciation Amortization Total Sanitation Fund 116,094$ -$ 116,094$ Water Fund 2,742,464 34,591 2,777,055 Storm Drain Fund 1,787,787 - 1,787,787 Sewer Fund 1,530,919 - 1,530,919 Total depreciation/amortization expense 6,177,264$ 34,591$ 6,211,855$ 77 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

9. LONG-TERM LIABILITIES
A summary of changes in long-term liabilities for the year ended June 30, 2024, is as follows:

A. Governmental Activities
Claims Liabilities
The amount of net claims liabilities at June 30, 2024, was 7,146,659. See Note 12 for details.

Compensated Absences
Compensated absences liability represents the total unpaid vacation, compensatory time, and sick leave earned by employees of the City. There is no fixed-payment schedule for earned but unpaid compensated absences. The amount of net unpaid compensated absences at June 30, 2024, is $6,882,656.

Note Payable to Successor Agency
The amount of the note payable on the governmental activities at June 30, 2024, is $4,850,332. See Note 5 for further details.

Due Due in
Balance at Balance at Within More Than
July 1, 2023 Additions Deletions June 30, 2024 One Year One Year Governmental Activities:

Other Long-Term Liabilities:

Claims Liabilities 8,002,072$ 1,638,104$ $ (2,493,517) 7,146,659$ 1,650,000$ 5,496,659$ Compensated Absences 6,257,367 3,914,280 (3,288,991) 6,882,656 1,720,664 5,161,992 Lease Liability 520,573 - (203,410) 317,163 104,570 212,593 SBITA Liability 1,085,099 181,373 (486,697) 779,775 259,274 520,501 Direct Borrowings :

Note Payable to Successor Agency 5,439,685 - (589,353) 4,850,332 - 4,850,332 Total Governmental Activities 21,304,796 5,733,757 (7,061,968) 19,976,585 3,734,508 16,242,077 Business-Type Activities:

Direct Borrowings :

SRF Loan Payable - 1,190,161 - 1,190,161 33,194 1,156,967 Other Long-Term Liabilities :

Compensated Absences 726,686 1,213,751 (1,019,861) 920,576 230,145 690,431 SBITA Liability 68,866 - (34,245) 34,621 34,621 - Total Business-Type Activities 795,552 2,403,912 (1,054,106) 2,145,358 297,960 1,847,398 City total 22,100,348$ 8,137,669$ (8,116,074)$ 22,121,943$ 4,032,468$ 18,089,475$ 78 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

9. LONG-TERM LIABILITIES, Continued
A. Governmental Activities, Continued
Lease Liability
The City has (2) active equipment lease agreements with Axon Enterprise and Flock Group Inc. In July 2022, the City entered into an agreement with Axon Enterprise, Inc. for its Body-Worn Camera Full Service which include both software subscription and leased equipment. Under the agreement, the City pays $108,045 per year for equipment lease for 5 years. The lease liability is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of

1.090%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized lease asset of $528,351, and accumulated amortization of $104,585. In October 2022, the City entered into an agreement with Flock Group, Inc. for automated license plate reader which include both software subscription and leased equipment. Under the agreement, the City pays a prorated amount of $84,750 for nine months in the first year and $100,000 for the second year. The lease liability is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of 1.772%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized lease asset of $183,036, and accumulated amortization of $98,826.

The future annual payments on the lease liability are as follow:

SBITA Liability
e-Plan
In January 2023, the City entered into a Software-as-a-Service (SaaS) agreement with e-Plan, Inc. for use of the electronic plan review software. Under the agreement, the City pays $66,812 per year for 5 years, with 1% increase every year. The subscription asset is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of 2.425%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized subscription asset of $332,300, and accumulated amortization of $99,690.

Year Ending June 30, Principal Interest Total
2025 104,570$ 3,474$ 108,044$
2026 105,718 2,329 108,047
2027 106,875 1,171 108,046
Total 317,163$ 6,974$ 324,137$
79 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

9. LONG-TERM LIABILITIES, Continued
A. Governmental Activities, Continued
SBITA Liability, Continued
Spidr Tech
In July 2021, the City entered into a Software-as-a-Service (SaaS) agreement with Spidr Tech for use of the Spidr Tech's platform to automatically generate and send customized text and email to victims of crime and reporting parties. Under the agreement, the City pays $35,100 per year for 3 years and an initial deployment fee of $2,500. The subscription asset is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of 0.221%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized subscription asset of $70,077, and accumulated amortization of $70,077.

Veritone
In August 2022, the City entered into a Software-as-a-Service (SaaS) agreement with Veritone for use of the Veritone application software to automatically collect of stop data in support of reporting requirements under the State of California Racial Identity and Profiling Act (RIPA). Under the agreement, the City pays $11,800 per year for 3 years with an option to extend for additional 3 years. The subscription asset is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of 1.276%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized subscription asset of $68,570, and accumulated amortization of $21,904.

Axon Enterprise, Inc.

In July 2022, the City entered into an agreement with Axon Enterprise, Inc. for its Body-Worn Camera Full Service which include both software subscription and leased equipment. Under the agreement, the City pays $121,760 per year for software subscription, for 5 years. The subscription asset is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of 1.090%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized subscription asset of $595,415, and accumulated amortization of $238,166.

Dell Technologies
In September 2021, the City entered into a subscription agreement with Dell Technologies for use of the Microsoft 365 software. Under the agreement, the City pays $195,977 per year for 3 years. The subscription asset is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of 0.206%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized subscription asset of $391,483, and accumulated amortization of $361,369. 80 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

9. LONG-TERM LIABILITIES, Continued
A. Governmental Activities, Continued
SBITA Liability, Continued
PlanetBids, Inc.

In July 2021, the City entered into a subscription agreement with PlanetBids, Inc for use of the procurement software. Under the agreement, the City pays $20,860 per year for 5 years, with 2% increase per year. The subscription asset is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of 0.221%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized subscription asset of $84,018, and accumulated amortization of $42,009.

Granicus
In July 2023, the City entered into a subscription agreement with Granicus for use of the streaming and digital boardroom software. Under the agreement, the City pays $43,805 per year for 4 years. The subscription asset is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of 3.305%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized subscription asset of $181,373, and accumulated amortization of $45,343.

The annual debt service requirements on the SBITA liabilities at June 30, 2024 are as follow:

SRF Loan Payable
During the year ended June 30, 2024 the city borrowed $1,190,161 towards financial assistance to undertake work required for the drinking water construction Project for a period of 30 years at an interest rate of 1.2% per annum.

Year Ending June 30, Principal Interest Total
2025 259,274$ 10,757$ 270,031$
2026 263,094 6,164 269,258
2027 249,427 1,401 250,828
2028 7,980 25 8,005
Total 779,775$ 18,347$ 798,122$
81 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

9. LONG-TERM LIABILITIES, Continued
A. Governmental Activities, Continued
SRF Loan Payable, Continued
The annual debt service requirements on the SRF Loan at June 30, 2024 are as follow:

Compensated Absences
This liability represents the total unpaid vacation, compensatory time, and sick leave earned by employees of the City. There is no fixed-payment schedule for earned but unpaid compensated absences.

The amount of net unpaid compensated absences at June 30, 2024, was $920,576.

SBITA Liability
Goaigua, Inc.

In July 2022, the City entered into a Software-as-a-Service (SaaS) agreement with Goaigua, Inc. for use of the data storage and private cloud environment hosting customer software. Under the agreement, the City pays $35,000 per year for 3 years. The subscription asset is measured at the present value of the future minimum payments expected to be paid during the agreement term at a discount rate of 1.090%, which is an estimated City's incremental borrowing rate at the time of subscription commencement. For the year ended June 30, 2024, the City recognized subscription asset of $103,772, and accumulated amortization of $68,838.

The annual debt service requirements on the SBITA liabilities at June 30, 2024 are as follow:

Year Ending June 30, Principal Interest Total
2025 33,194$ 14,282$ 47,476$
2026 33,592 13,884 47,476
2027 33,995 13,481 47,476
2028 34,403 13,073 47,476
2029 34,816 12,660 47,476
2030/2034 180,447 56,931 237,378
2035/2039 191,537 45,841 237,378
2040/2044 203,308 34,069 237,377
2045/2049 215,803 21,575 237,378
2050/2054 229,066 8,312 237,378
Total 1,190,161$ 234,108$ 1,424,269$
Year Ending June 30, Principal Interest Total
2025 34,621$ 63$ 34,684$
Total 34,621$ 63$ 34,684$
82 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS
The following is a summary of pension related items for the year ended June 30, 2024:

Pension liabilities are liquidated from the related employees home program, with the majority funded out of the General Fund.

Miscellaneous and Safety Pension Plans Administered Through CalPERS A. General Information about the Pension Plans
Plan Descriptions
All qualified permanent and probationary employees are eligible to participate in either the City's separate miscellaneous agent multiple-employer defined benefit pension plan (Miscellaneous) or the safety cost-sharing multiple-employer defined benefit pension plan (Safety), administered by CalPERS, which acts as a common investment and administrative agent for its participating member employers.

Benefit provisions under the plans are established by state statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions, and membership information that can be found on CalPERS website.

Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full-time employment. Members with five years of total service are eligible to retire at age 50 to 62 with statutorily reduced benefits. For employees hired into a plan with the 1.5% at 65 formula, eligibility for service retirement is age 55 with at least five years of services. PEPRA miscellaneous members become eligible for service retirement upon attainment of age 52 with at least five years of service. All members are eligible for nonduty disability benefits after five years of service. The death benefit is one of the following: the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. Safety members can receive a special death benefit if the member dies while actively employed and the death is job-related. The cost-of-living adjustments for each plan are applied as specified by the Public Employees' Retirement Law.

Pension
Deferred Deferred Total Pension Expense
Outflows Inflows Liability (Income)
Miscellaneous 15,627,213$ 376,446$ 29,761,474$ 9,314,782$ Safety 20,016,850 7,322,689 27,169,395 11,534,456 Supplemental Safety 228,570 - 3,267,478 160,125 Total 35,872,633$ 7,699,135$ 60,198,347$ 21,009,363$ 83 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Miscellaneous and Safety Pension Plans Administered Through CalPERS, Continued A. General Information about the Pension Plans, Continued Benefits Provided, Continued
The Miscellaneous and Safety plans' provisions and benefits in effect at June 30, 2024, are summarized as follows:

On or After
October 17 ,2011
Before Before On or After
Hire date October 17 ,2011 January 1 ,2013 January 1 ,2013 Benefit formula 2.7%@55 2%@55 2%@62
Benefit vesting schedule 5 Years of service 5 Years of service 5 Years of service Benefit payments Monthly For Life Monthly For Life Monthly For Life Retirement age 50 to 55 50 to 63 52 to 67
Monthly benefits, as a percentage of
eligible compensation 2.0% to 2.7% 1.426% to 2.418% 1.0% to 2.5% Required employee contribution rates 8% 8% 7.25%
Required employer contribution rates 10.64% 10.64% 10.64% Payment of unfunded liability -$ -$ -$ On or After On or After
July 1 ,2011 October 17 ,2011
Before Before Before On or After
Hire date July 1 ,2011 October 17, 2011 January 1 ,2013 January 1 ,2013 Benefit formula 3.0%@50 3.0%@50 3.0%@55 2.7%@57
Benefit vesting schedule 5 Years of service 5 Years of service 5 Years of service 5 Years of service Benefit payments Monthly For Life Monthly For Life Monthly For Life Monthly For Life Retirement age 50 50 to 55 50 to 55 50 to 57
Monthly benefits, as a percentage of
eligible compensation 3.00% 2.0% to 2.7% 2.4% to 3.0% 2.0% to 2.7% Required employee contribution rates 9% 9% 9% 13.75%
Required employer contribution rates
Normal cost rate 27.32% 27.32% 27.32% 27.32%
Payment of unfunded liability -$ -$ -$ 32,636$ Miscellaneous
Safety
84 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Miscellaneous and Safety Pension Plans Administered Through CalPERS, Continued A. General Information about the Pension Plans, Continued Employees Covered
At the measurement date ended June 30, 2023, the following employees were covered by the benefit terms for the agent multiple-employer plan:

Contributions
Section 20814(c) of the California Public Employees' Retirement Law requires that the employer contribution rates for all public employers are determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. The total plan contributions are determined through CalPERS' annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. City contribution rates may change if plan contracts are amended. Payments made by the employer to satisfy contribution requirements that are identified by the pension plan terms as plan member contributions requirements are classified as plan member contributions. The City made contributions to the Miscellaneous and Safety plans during the fiscal year ended June 30, 2024, of $3,101,583 and $3,153,208 respectively.

B. Total Pension Liability (Asset)
The City's total pension liability (asset) for each plan is measured as the total pension liability, less the pension plan's fiduciary net position. The total pension liability (asset) of each of the plans is measured as of June 30, 2023, using an annual actuarial valuation as of June 30, 2022, rolled forward to June 30, 2023, using standard update procedures. A summary of principal assumptions and methods used to determine the total pension liability (asset) is shown below.

Inactive Employees or Beneficiaries Currently
Receiving Benefits 470
Inactive Employees Entitled to but not yet
Receiving Benefits 538
Active Employees 347
Total 1,355
85 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Miscellaneous and Safety Pension Plans Administered Through CalPERS, Continued B. Total Pension Liability (Asset), Continued
Actuarial Assumptions
The total pension liability in the June 30, 2021 actuarial valuation were determined using the following actuarial assumptions:

Long-Term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a building- block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations. Using historical returns of all of the funds’ asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach.

The expected rate of return was then adjusted to account for assumed administrative expenses of 10 Basis points.

Miscellaneous Safety
Valuation Date June 30, 2022 June 30, 2022
Measurement Date June 30, 2023 June 30, 2023
Actuarial Cost Method Entry-Age Normal Entry-Age Normal Asset Valuation Method Market Value of Asset Market Value of Asset Actuarial Assumptions:

Discount Rate 6.90% 6.90%
Inflation 2.30% 2.30%
Projected Salary Increase Varies by Entry Age and Service Varies by Entry Age and Service Mortality Rate Table (1) (1)
Postretirement Benefit Increase (2) (2)
(1) The mortality table was developed based on CalPERS-specific data. The rates incorporate Generational Mortality to capture ongoing mortality improvement using 80% of Scale MP 2020 published by the Society of Actuaries. For more details, please refer to the 2021 experience study report that can be found on the CalPERS (2 ) Contract COLA up to 2.30% until Purchasing Power Protection Allowance Floor on Purchasing Power applies 86 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Miscellaneous and Safety Pension Plans Administered Through CalPERS, Continued B. Total Pension Liability (Asset), Continued
Long-Term Expected Rate of Return, Continued
The expected real rates of return by asset class are as follows:

Discount Rate
The discount rate used to measure the total pension liability was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

Asset Class (a)
Global Equity - Cap-weighted 30.00 % 4.54 %
Global Equity-Non-Cap-weighted 12.00 3.84
Private Equity 13.00 7.28
Treasury 5.00 0.27
Mortgage-backed Securities 5.00 0.50
Investment Grade Corporates 10.00 1.56
High Yield 5.00 2.27
Emerging Market Debt 5.00 2.48
Private Debt 5.00 3.57
Real Assets 15.00 3.21
Leverage (5.00) (0.59)
Total 100.00
(1) An expected inflation of 2.30% used for this period. (2) Figures are based on the 2021 Asset Liability Management Study.

Assumed Asset
Allocation Real Return(1),(2)
87 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Miscellaneous and Safety Pension Plans Administered Through CalPERS, Continued C. Changes in the Total Pension Liability (Asset)
The changes in the total pension liability (asset) for the Miscellaneous Plan (agent multiple-employer plan), using the measurement date of June 30, 2023, are as follows:

Proportionate Share of the Total Pension Liability (Asset) for the Safety Plan As of June 30, 2024, the City reported total pension liabilities (assets) for its proportionate share of the total pension liability (asset) of the Safety plan as follows:

The City's total pension liability (asset) is measured as the proportionate share of the total pension liability (asset). The total pension liability (asset) is measured as of June 30, 2023, and the total pension liability used to calculate the total pension liability (asset) was determined by an actuarial valuation as of June 30, 2022, rolled forward to June 30, 2023, using standard update procedures. The City's proportionate share of the total pension liability (asset) was based on a projection of the City's long-term share of contributions to the pension plans relative to the projected contributions of all participating employers, actuarially determined.

Total Plan Total
Pension Fiduciary Pension
Liability Total Pension Liability (Asset)
Balance - June 30, 2022 (Measurement Date) 226,823,821$ 199,182,639$ 27,641,182$ Change Recognized for the measurement period:

Service cost 4,269,803 - 4,269,803 Interest on the total pension liability 15,427,689 - 15,427,689 Changes of benefit terms 280,056 - 280,056 Differences between expected and actual experience (340,076) - (340,076) Net Plan to Plan Resource Movement - (2,014) 2,014 Contributions from the employer - 3,720,580 (3,720,580) Contributions from the employee - 1,839,684 (1,839,684) Net investment income - 12,105,400 (12,105,400) Administrative expenses - (146,470) 146,470 Benefit payments, including refund of the
employee contributions (10,618,035) (10,618,035) - Net changes 9,019,437 6,899,145 2,120,292 Balance - June 30, 2023 (Measurement Date) 235,843,258$ 206,081,784$ 29,761,474$ Increase (Decrease )
Proportionate
Share of Total Pension
Liability (Asset)
Safety 27,169,395$
88 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Miscellaneous and Safety Pension Plans Administered Through CalPERS, Continued C. Changes in the Total Pension Liability (Asset), Continued Proportionate Share of the Total Pension Liability (Asset) for the Safety Plan, Continued The City's proportionate share of the total pension liability (asset) for the Safety plan as of the measurement dates of June 30, 2022 and 2023, was as follows:

Sensitivity of the Total Pension Liability (Asset) to Changes in the Discount Rate The following presents the total pension liability (asset) of the City for each plan, calculated using the discount rate for each plan, as well as what the City's total pension liability (asset) would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate:

Pension Plans Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports at https://www.calpers.ca.gov.

Safety
Proportion - June 30, 2022 0.189831%
Proportion - June 30, 2023 0.217785%
Change - Increase (decrease) 0.027954%
Miscellaneous Safety
1% Decrease 5.90% 5.90%
Total Pension Liability (Asset) 63,043,831$ 55,261,287$ Current Discount Rate 6.90% 6.90%
Total Pension Liability (Asset) 29,761,474$ 27,169,395$ 1% Increase 7.9% 7.9%
Total Pension Liability (Asset) 2,568,396$ 4,202,274$ 89 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Miscellaneous and Safety Pension Plans Administered Through CalPERS, Continued D. Pension Expense and Deferred Outflows/Inflows of Resources Related to Pensions For the year ended June 30, 2024, the City recognized pension expense of $9,314,782 and $11,543,456 for the Miscellaneous and Safety plans, respectively. At June 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Amounts of $3,101,583 and $3,153,208 reported as deferred outflows of resources related to contributions subsequent to the measurement date for the Miscellaneous and Safety plans, respectively, will be recognized as a reduction of the total pension liability in the year ending 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:

E. Payable to the Pension Plan
At June 30, 2024, the City had no outstanding amount of contributions to the pension plans required for the year ended June 30, 2024.

Deferred Deferred Deferred Deferred
Outflows Inflows Outflows Inflows
of Resources of Resources of Resources of Resources
Pension contributions subsequent to
measurement date 3,101,583$ -$ 3,153,208$ -$ Changes in assumptions 2,856,221 - 1,585,642 - Differences between expected and actual
experience 127,591 376,446 1,994,735 (170,770) Changes in employer's proportion - - 9,565,141 - - Differences between the employer's
contribution and the employer's
proportionate share of contributions - - - (7,151,919) Net differences between projected and actual
earnings on pension plan investments 9,541,818 - 3,718,124 - Total 15,627,213$ 376,446$ 20,016,850$ (7,322,689)$ Miscellaneous Safety
Year Ending June 30 Miscellaneous Safety
2025 4,215,168$ 4,222,269$
2026 1,101,218 2,584,449
2027 6,546,139 2,630,455
2028 286,659 103,780
Total 12,149,184$ 9,540,953$
Deferred Outflows (Inflows)
of Resources, Net
90 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Safety Retirement Supplemental Plan
A. General Information about the Pension Plan
Plan Description
The City provides an additional single employer retirement supplement pension defined benefit plan to safety employees hired prior to July 1, 1998. The plan is closed to new entrants. The amount of benefit payable is based on each retiree's years of City service. The benefit is payable for the retiree's lifetime; no benefits are payable to surviving spouses or dependents under this plan, except for a limited survivor benefit for qualified management employees.

Employees Covered
At June 30, 2023, the measurement date, the following employees were covered by the benefit terms for the single employer plan:

Funding Policy and Contribution Rates
Currently, contributions are not required from plan members. The funding policy provides for employer contributions on a pay-as-you-go basis. Retirement income benefits cannot be increased unless new labor agreements (MOU) are entered into. Plan assets have not been accumulated in a separately established trust fund. For the year ended June 30, 2024, the City paid pension benefits of $228,570.

B. Total Pension Liability
The City's total pension liability for the plan is measured at June 30, 2023, using an actuarial valuation as of that same date. As summary of principal assumptions and methods used to determine the total pension liability is shown below.

Supplemental
Safety
Inactive employees or beneficiaries currently receiving benefits 48 Active employees 5
Total 53
91 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Safety Retirement Supplemental Plan
B. Total Pension Liability, Continued
Actuarial Assumptions

Changes of Assumptions
In fiscal year 2023-2024, the financial reporting discount rate changed from 4.09% to 4.13%. Deferred outflows of resources and deferred inflows of resources for changes of assumptions represent the unamortized portion of this assumption change.

Discount Rate
The discount rate used to measure the total pension liability was 4.13% for the plan and was based on the Municipal Bond 20-year high grade index since the City has not established a trust for this plan.

C. Changes in the Total Pension Liability

Supplemental Safety
Valuation date June 30, 2022
Measurement date June 30, 2023
Actuarial cost method Entry-Age Normal
Asset valuation method Not applicable
($0; no pension trust has been established)
Actuarial assumptions:

Discount rate 4.13%
Inflation 2.50%
Projected salary increase 3.00%
Mortality rate table (1)
(1) Mortality rate were projected on generational basis using MacLeod Watts Scale 2022 Balance June 30, 2023 (Measurement Date June 30,2022) 3,330,325$ Changes recognized for the measurement period:

Service cost 21,358
Interest on the total pension liability 132,524
Changes in assumptions 17,812
Difference between expected and actual experience (11,569) Benefit payments (222,972)
Net changes during 2022-23 (62,847)
Balance June 30, 2023 (Measurement Date) 3,267,478$
92 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

10. PENSION PLANS, Continued
Safety Retirement Supplemental Plan
C. Changes in the Total Pension Liability, Continued
Sensitivity of the Total Pension Liability to Changes in the Discount Rate Sensitivity of the Total Pension Liability to Changes in the Discount Rate The following presents the City's total pension liability for the Plan, calculated using the discount rate for each Plan, as well as what the City's total pension liability would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate:

D. Pension Expense and Deferred Outflows/Inflows of Resources Related to Pension For the year ended June 30, 2024, the City recognized pension expense of $160,125. At June 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related to the plan as follows:

An amount of $228,570 was reported as a deferred outflow of resources related to pension benefits paid by the employer subsequent to the measurement date, will be recognized as a reduction of the total pension liability in the year ending June 30, 2025.

Supplemental Safety
1% Decrease 3.13%
Total Pension Liability 3,630,574$
Current Discount Rate 4.13%
Total Pension Liability 3,267,478$
1% Increase 5.13%
Total Pension Liability 2,962,789$
Deferred Deferred
Outflows Inflows
of Resources of Resources
Pension benefits paid by the employer
subsequent to measurement date 228,570$ -$
Total 228,570$ -$
Supplementary Safety
93 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

11. OTHER POST EMPLOYMENT BENEFITS (OPEB)
Plan Description
The City provides a single-employer defined benefit health care plan (Retiree Health Plan) for Miscellaneous and Safety plan personnel. The Retiree Health Plan provides a lifetime medical benefit payment for eligible retirees. The City provides a supplemental benefit for retiree benefits for health care to Safety plan employees hired prior to 1998. The Retiree Health Plan pays $15 per month, times years of service. An employee who retires with 30 years of service would receive $5,400 annually ($15 x 12 months x 30 years). The City pays the benefit for the life of the eligible retiree on a pay-as-you-go basis. If a retiree dies within the first 15 years of retirement, the spouse will receive the same benefit for up to 15 years after the retirement date. Separation from service other than by disability or retirement renders employees ineligible for the retiree health contribution. Benefit provisions are established by the City Council. Plan assets have not been accumulated in a separately established trust fund.

Employees Covered
As of the June 30, 2023 measurement date, the following current and former employees were covered by the benefit terms under the plan:

Total OPEB Liability
The City's total OPEB liability of $14,029,904 was measured as of June 30, 2023, and the total OPEB liability was determined by an actuarial valuation dated June 30, 2023.

Actuarial Assumptions and Other Inputs
The total OPEB liability as of measurement date June 30, 2023, was determined using the following actuarial assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified:

Inactive employees, spouses, or beneficiaries 90 currently receiving benefits
Active employees 505
Total 595
Valuation date June 30, 2023
Measurement date June 30, 2023
Actuarial cost method Entry-Age Normal Cost Method
Funding policy Pay-as-You-Go-Basis
Actuarial assumption:

Discount rate 4.13%
Inflation 2.50%
Projected salary increase 3.00%
Health-care cost trend rates 6.5% for 2025 , decreasing to 3.9% by 2075 Mortality, retirement, disability, and termination 2021 CalPERS Experience Study 94 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

11. OTHER POST EMPLOYMENT BENEFITS (OPEB), Continued
Total OPEB Liability, Continued
The discount rate was based on a 20-year, tax-exempt general obligation municipal bonds with an average rating of AA/Aa or higher, since the City has not established a trust for this plan. The municipal bond rate utilized was 4.09% at measurement date of June 30, 2022 and increased to 4.13% for the measurement date of June 30, 2023.

Changes in Total OPEB Liability

Subsequent Events
There were no subsequent events that would materially affect the results presented in this disclosure.

Sensitivity of the Total OPEB Liability to Changes in the Discount Rate The following presents the total OPEB liability of the City, calculated using the discount rate for the Plan, as well as what the City's total OPEB liability would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate:

Sensitivity of the Total OPEB Liability to Changes in the Health-Care Cost Trend Rates The following presents the total OPEB liability of the City, as well as what the City's total OPEB liability would be if it were calculated using health care cost trend rates that are one percentage point lower (4.6% - down to 3.0%) or one percentage point higher (6.6% down to 5.0%) than current health-care cost trend rates:

Increase (Decrease)
Total OPEB
Liability
Balance - June 30, 2023 (Measurement Date) 16,874,630$
Changes in the year:

Service cost 831,210
Interest on the total OPEB liability 714,787
Benefit payments (458,779)
Change due to change in discount rate (3,931,944)
Balance - June 30, 2024
(Measurement Date June 30, 2023) 14,029,904$
14,029,904
Amount Due within 1 year 461,719$
1% Decrease Discount Rate 1% Increase

3.13% 4.13% 5.13%
Total OPEB Liability 16,336,697$ 14,029,904$ 12,172,443$ Health Care Cost
Trend Rates
1% Decrease Current Rate 1% Increase
Total OPEB Liability 11,879,115$ 14,029,904$ 16,815,423$ 95 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

11. OTHER POST EMPLOYMENT BENEFITS (OPEB), Continued
OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the year ended June 30, 2024, the City recognized OPEB expense of $525,790. At June 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

The change in assumptions and differences between actual and expected experience are amortized over the expected average remaining service life.

An amount of $455,205 which is reported as deferred outflows of resources related to OPEB benefits paid by the employer subsequent to the measurement date, will be recognized as a reduction of the total OPEB liability in the year ending June 30, 2025.

Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:

12. RISK MANAGEMENT
The City is exposed to various risks of losses related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The City currently reports its workers' compensation and general liability claims in the Liability Insurance Internal Service Fund. The City is self- insured for the first $1,000,000 per workers' compensation claim and for the first $1,000,000 per general liability claim. Claims expensed beyond the City's self-insured retention are covered by insurance policies purchased by the City.

Deferred Outflows Deferred Inflows
of Resources of Resources
OPEB benefits paid by the employer 455,205$ -$ subsequent to measurement date
Difference between actual and expected experience - 3,255,982 Change in Assumptions 1,637,587 7,362,058 Total 2,092,792$ 10,618,040$
Year Ending June 30, Amount
2025 (1,020,208)$
2026 (1,020,208)
2027 (1,006,719)
2028 (889,917)
2029 (938,165)
Thereafter (4,105,236)
Total (8,980,453)$
96 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

12. RISK MANAGEMENT, Continued
The City's insurance coverage has been reduced during the current fiscal year. Insurance settlements have not exceeded the City's insured limits in any of the last three fiscal years. Claims expenditures and liabilities of the workers' compensation and general liability programs are reported when it is probable that a loss has occurred and the amount of that loss can be reasonably estimated. These losses include an estimate of claims that have been incurred but not reported. Estimates are based upon past experience and modified for current trends and information.

The carrying amount for estimated claims payable does include discounted liabilities using a 2% interest rate assumption. Also, there are no liabilities for which annuity contracts have been purchased in the claimants' names and for which the related liabilities have been removed from the balance sheet.

In addition to the self-insured workers compensation and general liability programs. The City offers a long- term disability program. Under the program, qualifying employees receive full pay from the 41st to the 60th consecutive calendar day of covered illness and two-thirds pay thereafter for a period of no more than two years. This program is administered by the City's Human Resources Department. The cost of the long-term disability benefits is recognized as expenditures as claims are paid on the Employee Benefits Internal Service Fund. For the year ended June 30, 2024, the City paid $172,660 for this program, which benefited 15 participants.

The City continues to carry insurance from commercial companies for other risks of loss, including coverage for property and employee dishonesty.

Workers' General
Compensation Liability Total
Liability June 30 , 2022 6,520,668$ 1,534,657$ 8,055,325$ Incurred Claims and Changes in Estimates During
the Year Ended June 30, 2023 144,459 927,091 1,071,550 Claim Payments During
the Year Ended June 30, 2023 (588,365) (536,438) (1,124,803) Liability June 30 , 2023 6,076,762 1,925,310 8,002,072 Incurred Claims and Changes in Estimates During
the Year Ended June 30, 2024 (43,041) 1,681,145 1,638,104 Claim Payments During
the Year Ended June 30, 2024 (522,532) (1,970,985) (2,493,517) Liability June 30, 2024 5,511,189$ 1,635,470$ 7,146,659$ 97 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

13. NET POSITION AND DEFICIT FUND BALANCES
A. Fund Financial Statements
Deficit Fund Balances
At June 30, 2024, the following funds had deficits in fund balance/net position:

Transportation Tax Fund - The Transportation Grant Fund had a deficit of $(357,901), resulting from expenditures on projects to be subsequently reimbursed through grants. There currently is a receivable and related unavailable revenue as of June 30, 2024. The receivable and unavailable balances for the fiscal year ended June 30, 2024, are $358,673 each.

Measure I Valley Subarea Program Fund - The Measure I Valley Subarea Program Fund had a deficit of $(1,685,667), resulting from expenditures on projects to be subsequently reimbursed through grants. The City intends to eliminate the deficit when there is grant reimbursement at the end of the projects.

Liability Insurance Fund - The Liability Insurance Fund had a deficit of $(6,108,615), resulting from the accrual of several large outstanding liability claims against the City. The actual loss from these claims could be less than recognized. The City intends to monitor these claims and transfer funds as needed from the other funds to cover the deficit.

Fund Fund Type Deficit
Transportation Tax Nonnmajor Governmental Fund (357,901)$ Measure I Valley Subarea Program Nonnmajor Governmental Fund (1,685,667) Liability Insurance Internal Service Fund (6,108,615)
98 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

14. FUND BALANCE CLASSIFICATIONS
The classification of fund balances as of June 30, 2024, are as follows:

Facilities City Affordable Transportation Community
Development Housing Grants Facilities Park
Special Special Special District 03-03 Development Other General Revenue Revenue Revenue Capital Projects Capital Projects Governmental Fund Fund Fund Fund Fund Fund Funds
Nonspendable:

Inventory 82,551$ -$ -$ -$ -$ -$ -$ Advance 2,222,862 - - - - - - Prepaids - - - - - - 570 Restricted for:

Public safety - 4,137,280 - - - - - Bridges, signals and thoroughfares - 30,172,458 - - - - - Facilities - 7,460,118 - - - - - Water facilities - (374,621) - - - - - Sewer facilities - 4,095,138 - - - - - Storm drain facilities - 1,340,739 - - - - - The preserve at Chino:

Bridges, signals and thoroughfares - 16,838,411 - - - - - Water - 1,895,487 - - - - - Sewer - 556,310 - - - - - Storm drain - 4,017,498 - - - - - Library facilities - 300,056 - - - - - Community facilities - 5,803,516 - - - - - Congestion Management Plan:

Bridges, signals and thoroughfares - 8,696,494 - - - - - Transportation - - - 5,908,986 - - - Asset forfeitures - - - - - - 877,444 Bureau of justice assistance grant - - - - - - 6,266 COPS program - - - - - - 587,782 Cal-Home - - - - - - 78,600 Highway safety improvement - - - - - - 34,181 RMRA - - - - - - 1,828,529 CDF - ALL - - - - - - 2,817,211 Air quality - - - - - - 1,097,656 Capital projects - - - - 25,939,329 12,941,425 3,068,919 Community/development services - - - - - - 534,270 Measure I sales tax - - - - - - 3,809,955 Home investment partnership - - - - - - 1,239,087 Public, educational and governmental - - - - - - 892,425 Committed to:

Affordable housing - - 10,648,109 - - - - Environmental improvements and facilities - - - - - - 1,048,272 Unassigned:

Unassigned 30,151,505 - - - - - (2,043,568) Total 32,456,918$ 84,938,884$ 10,648,109$ 5,908,986$ 25,939,329$ 12,941,425$ 15,877,599$ 99 City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

15. CONTINGENCIES AND COMMITMENTS
A. Contractual Commitments
As of June 30, 2024, the City's remaining commitments on open construction contracts are estimated to be $85,520,876 were as follows::

B. Litigation
The City is a defendant in certain legal actions arising in the normal course of operations. In the opinion of management, any liabilities resulting from such actions will not have a material adverse effect on the City's financial position.

Expenditures
as of Remaining
Project Name June 30, 2024 Commitments
Ayala Park Field & ADA Improvements 15,860$ 154,281$ Ayala Park Improvements - Softball Fields 1-4 404,832 4,372,178 Benson & Eastside Reservoir Improvement 15,000 4,488,000 Bicycle, Pedestrian & Transit Improvements FY18-19 304,537 19,583 Carolyn Owen Community Center Demonstration Garden 36,363 487,334 Kimbal Ave/Preserve Improvements 1,773,071 5,083,018 Local Street Rehabilitation Project FY2024-Walnut Widening 1,619,467 5,277,260 Pine Avenue Connection 478,932 21,424,825
Pine Ave Improvements/Chino 2,626,401 2,347,328
Pine Ave SR71 Interchange Improvement 49,274 3,507,227 San Antonio Ave Regional Storm Drain 23,030 3,604,634 Sewer Reline FY 21-22 Schaefer Ave / 12th St 218,427 491,865 State Street Water Treatment Project 409,959 18,792,282 Storm Drain Rehab FY 21-22 Philladelphia/Monte Vista to Marshall Elementary 11,410 3,055,950 Storm Drain Rehab FY 21-22 Mountain at Chino Ave 176,261 584,668 Traffic Signal Modification at Eucalyptus & Fern 7,253 1,264,776 Traffic Signal Modification at Grand Spectrum East & West 125,831 118,046 Traffic Signal Installation at Monte Vista and Walnut 36,106 358,240 Walnut Park Playground Improvements 171,361 943,749 Water Main Replacement - Central Ave / Chino to C St 787,634 200,000 Water Main Replacement - Dupont Ave 1,035,691 200,000 Water Main Replacement - Russell Ave 69,859 900,000 Water Main Replacement - B St Alley 109,960 1,600,000 Well 4 & 6 Treatment Plan Project 659,986 100,000 Well 11 Pipeline Project 178,655 82,263
Well 17 Equipping Project 159,892 5,696,218
Yorba Ave Street Improvements-CVUSD 1,071,243 367,151 Total 12,576,295$ 85,520,876$
100
City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

16. COMMUNITY FACILITIES DISTRICT (CFD) BOND ISSUES
The City acts only as an agent and has no obligation or duty to pay any delinquency out of any available funds of the City related to the below bond issues. Neither the faith and credit nor the taxing power of the City is pledged to the payment of the bonds, and therefore, the bonded indebtedness is not shown in the financial statements of the City.

Noncommittal debt amounts issued and outstanding at June 30, 2024, are as follows:

17. SUCCESSOR AGENCY BOND ISSUES
The Successor Agency’s long term debt activities were as follows:

Bonds Bonds
Issues Issued Outstanding
PFA 2015 A (2003 IA2, 2005-1 IA1, 2005-2, and 2006-2) 45,115,000$ 32,135,000$ PFA 2016 A (99-1, 2000-1, and 2006-1) 11,835,000 7,305,000 PFA 2019 A (2005-1 IA2 and 2006-3) 7,255,000 6,370,000 PFA 2021 A (2001-1, 2003-1, 2003-2, 2003-3 IA1, 2003-4, and 2009-1) 43,770,000 35,725,000 CFD No. 2003-3 IA6 13,500,000 11,430,000
CFD No. 2005-1 IA3 2,840,000 2,340,000
CFD No. 2005-1 IA4 6,840,000 5,675,000
CFD No. 2016-1 9,135,000 8,615,000
CFD No. 2016-2 7,670,000 6,890,000
CFD No. 2019-1 10,165,000 9,795,000
CFD No. 2003-3 IA7 (2018 and 2020) 39,685,000 37,065,000 CFD No. 2003-3 IA8 20,955,000 20,560,000
CFD No. 2003-3 IA9 32,265,000 32,265,000
CFD 2003-3 IA10 18,450,000 18,450,000
CFD 2021-1 7,085,000 7,085,000
Total All Issues 276,565,000$ 241,705,000$
Due in
At 7/1/2023 Additions Deletions At 6/30/2024 One Year
2014 Tax Allocation Refunding Bonds 11,030,000$ -$ (1,215,000)$ 9,815,000$ 1,275,000$ 2019 Tax Allocation Bonds 30,750,000 - (805,000) 29,945,000 615,000 Bond Premium 1,565,764 - (208,769) 1,356,995 - Total 43,345,764$ -$ (2,228,769)$ 41,116,995$ 1,890,000$ 101
City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

17. SUCCESSOR AGENCY BOND ISSUES, Continued
On July 15, 2019, the Successor Agency to the Redevelopment Agency issued the Successor Agency to the Redevelopment Agency of the City of Chino Tax Allocation Refunding Bonds, Series A and B for $16,575,000 each to refund the 2006 Tax Allocation Bonds. The outstanding bonds at June 30, 2024, were $29,945,000.

On June 3, 2014, $27,285,000 of Tax Allocation Refunding Bonds, Series, 2014A and $1,470,000 of Tax Allocation Refunding Bonds, Taxable Series 2014B was issued to refund the 1998 Tax Allocation Refunding Bonds, Series A and B, the 2001 Tax Allocation Refunding Bonds, Series A and B, and the 2003 Tax Allocation Refunding Bonds. The advance refunding resulted in a difference between the reacquisition price and the net carrying amount of the old debt of $1,235,173. The bonds were issued at a premium of $3,444,685. The outstanding bonds and premium at June 30, 2024, were $9,815,000, and $1,356,995, respectively.

The City acts only as an agent and has no obligation or duty to pay any delinquency out of any available funds of the City related to the above bond issues. Neither the faith and credit nor the taxing power of the City is pledged to the payment of the bonds, and therefore, the bonded indebtedness is reported in a fiduciary private-purpose trust fund in the financial statements of the City.

18. JOINT VENTURE
On February 19, 1980, the Water Facilities Authority (the Authority) was created under a joint exercise of powers agreement. It was formed for the acquisition and construction of facilities to supply water to the inhabitants within the boundaries of its members.

The governing Board of Directors consists of one member appointed from each participating agency. The City's investment in the Authority has been recorded on the equity method of accounting and is shown as an investment in joint venture in the Water Enterprise Fund.

Year Ending June 30, Principal Interest Total
2025 615,000$ 1,013,603$ 1,628,603$
2026 635,000 992,228 1,627,228
2027 660,000 970,083 1,630,083
2028 680,000 947,169 1,627,169
2029 700,000 923,571 1,623,571
2030-2034 7,555,000 3,261,912 10,816,912 2035-2039 19,100,000 2,023,786 21,123,786
Total 29,945,000$ 10,132,352$ 40,077,352$
Year Ending June 30, Principal Interest Total
2025 1,275,000$ 439,625$ 1,714,625$
2026 1,335,000 374,375 1,709,375
2027 1,400,000 315,625 1,715,625
2028 1,460,000 253,750 1,713,750
2029 1,530,000 179,000 1,709,000
2030-2031 2,815,000 130,875 2,945,875
Total 9,815,000$ 1,693,250$ 11,508,250$
102
City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

18. JOINT VENTURE, Continued
The components of the City's investment in the Authority at June 30, 2024, are summarized as follows:

The current participants and nonparticipants and their financial contributions through June 30, 2024, were as follows:

Separate financial statements of the joint venture are available from the Authority at 1775 North Benson, Upland, CA 91786.

19. RESTATEMENTS
The City’s prior period adjustments in the governmental funds, other than those changes within the financial reporting entity, were as follows:
(a) Error correction ($42,594,043) - to eliminate interfund receivable/payable between general fund and employee benefit fund ($42,156,549) and on account of pension note restatement to true-up the difference in the Amortization Schedule by ($437,494). Therefore, for the fiscal year ended June 30, 2023, Note receivable from other funds for the General Funds was overstated by ($42,156,549) and cash was overstated by ($437,494).
(b) Error correction $586,573- is to restate the duplicate / over-charged of employee benefits allocation from FY18-19 to FY22-23. Therefore, for the fiscal year ended June 30, 2023, cash balance for the Water fund was understated by $ 586,573.
(c) Error correction $600,236- is to restate the duplicate / over-charged of employee benefits allocation from FY18-19 to FY22-23. Therefore, for the fiscal year ended June 30, 2023, cash balance for the Storm Drain fund was understated by $ 600,236.
(d) Error correction $ 649,172- is to restate the duplicate / over-charged of employee benefits allocation from FY18-19 to FY22-23. Therefore, for the fiscal year ended June 30, 2023, cash balance for the Sewer fund was understated by $ 649,172.
(e) Error correction $300,190- is to restate the duplicate / over-charged of employee benefits allocation from FY18-19 to FY22-23. Therefore, for the fiscal year ended June 30, 2023, cash balance for the Sanitation fund was understated by $300,190.

City contributed capital 6,695,673$
Cumulative equity in earnings (1,227,939)
Total Investment in Authority 5,467,734$
Amount Percent
City of Chino 6,695,673$ 15.71%
City of Ontario 14,735,409 34.57%
City of Upland 8,552,736 20.07%
Monte Vista Water District 6,993,958 16.41%
City of Chino Hills 5,525,334 12.96%
Nonnparticipants 117,703 0.28%
Total Investment in Authority 42,620,813$ 100.00% 103
City of Chino
Notes to Basic Financial Statements
For the Year Ended June 30, 2024

19. RESTATEMENTS, Continued
(f) Error correction $40,457,872 - to eliminate interfund receivable/payable between general fund and employee benefit fund by $42,594,043 and on account of pension note restatement by ($2,136,171).

Therefore, for the fiscal year ended June 30, 2023, Note payable to other funds for the Employee Benefits Funds was overstated by $42,594,043 and the cash balance was overstated by ($2,136,171). (g) Error correction $(2,136,71) - is on account of pension note restatement by ($2,136,171). Therefore, for the fiscal year ended June 30, 2023 , the cash balance for Government -Wide Government Activities for was overstated by ($2,136,171).
(h) Error correction $2,136,71 - is on account of pension note restatement by $2,136,171. Therefore, for the fiscal year ended June 30, 2023 , the cash balance for Government- Wide Business-Type Activities for was understated by $2,136,171.

Summary of the restatements are as follows:

General Fund Water Storm Drain Sewer
Non-Major
Enterprise
Fund
Sanitation
Internal
Service Funds
Governmental
Activities
Business-Type
Activities
Fund Balance/net position as
previously reported at June 30, 2023 68,652,185$ 166,900,405$ 64,650,036$ 54,530,257$ 5,567,444 $ (38,421,524)$ 487,797,988$ 284,712,173$ Error corrections (42,594,043) (a) 586,573 (b) 600,236 (c) 649,172 (d) 300,190 (e) 40,457,872 (f) (2,136,171) (g) 2,136,171 (h) Total restatements (42,594,043) 586,573 600,236 649,172 300,190 40,457,872 (2,136,171) 2,136,171 Fund balance/net position as
restated at June 30, 2023 26,058,142$ 167,486,978$ 65,250,272$ 55,179,429$ 5,867,634 $ 2,036,348$ 485,661,817$ 286,848,344$ Funds Government-Wide
Reporting Units Affected by Restatements of Beginning Balances 104

REQUIRED

SUPPLEMENTARY INFORMATION
105
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106
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Fund
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes:

Property 34,568,910$ 34,568,910$ 38,163,470$ 3,594,560$ Sales and use 36,944,404 36,944,404 36,013,142 (931,262) Franchise fees 3,925,326 3,925,326 4,047,526 122,200 Transient occupancy taxes 550,000 550,000 542,222 (7,778) Other 5,975,531 5,975,531 6,528,469 552,938 Total taxes 81,964,171 81,964,171 85,294,829 3,330,658 Licenses and permits 3,156,101 3,156,101 2,052,935 (1,103,166) Intergovernmental 907,380 1,412,420 1,853,181 440,761 Charges for services 11,732,770 11,732,770 10,566,986 (1,165,784) Investment income (loss) 1,852,138 1,852,138 4,919,763 3,067,625 Fines and forfeitures 825,000 825,000 1,259,890 434,890 Other revenues 6,874,524 6,874,524 3,742,053 (3,132,471) Total revenues 107,312,084 107,817,124 109,689,637 1,872,513 EXPENDITURES:

Current:

General government 9,431,066 9,632,246 8,504,099 1,128,147 Public safety 65,993,448 67,309,520 65,069,014 2,240,506 Public works 1,121,406 578,735 454,089 124,646 Community development 20,279,152 20,855,484 16,580,456 4,275,028 Capital outlay - 46,431 207,911 (161,480) Debt service:

Principal - - 419,060 (419,060) Interest and fiscal charges - - 13,323 (13,323) Total expenditures 96,825,072 98,422,416 91,247,952 7,174,464

REVENUES OVER (UNDER)
EXPENDITURES 10,487,012 9,394,708 18,441,685 9,046,977 OTHER FINANCING SOURCES (USES):

Transfers in 5,054,456 5,365,895 11,976,786 6,610,891 Transfers out (25,922,454) (31,767,107) (24,019,695) 7,747,412 Total other financing sources (uses) (20,867,998) (26,401,212) (12,042,909) 14,358,303 Net change in fund balances
(10,380,986)$ (17,006,504)$ 6,398,776 23,405,280$ FUND BALANCES:

Beginning of year, as previously presented 68,652,185
Restatement - Prior Period Adjustments (42,594,043)
Beginning of year, as restated 26,058,142
End of year
32,456,918$
Budgeted Amounts
See accompanying Notes to Basic Financial Statements.
107
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Facilities Development Special Revenue Fund
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Charges for services 16,761,010$ 16,761,010$ 8,299,547$ (8,461,463)$ Investment income (loss) 1,043,500 1,043,500 4,236,577 3,193,077 Other revenues 79,745 79,745 15,060 (64,685) Total revenues 17,884,255 17,884,255 12,551,184 (5,333,071) EXPENDITURES:

Current:

Community development - - 589,353 (589,353) Total expenditures - - 589,353 (589,353)

REVENUES OVER (UNDER)
EXPENDITURES 17,884,255 17,884,255 11,961,831 (5,922,424) OTHER FINANCING SOURCES (USES):

Transfers out (19,611,553) (31,187,659) (9,655,589) 21,532,070 Total other financing sources (uses) (19,611,553) (31,187,659) (9,655,589) 21,532,070 Net change in fund balances (1,727,298)$ (13,303,404)$ 2,306,242 15,609,646$ FUND BALANCES:

Beginning of year 82,632,642
End of year 84,938,884$
Budgeted Amounts
See accompanying Notes to Basic Financial Statements.
108
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual City Affordable Housing Special Revenue Fund
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Charges for services 32,311$ 32,311$ 3,821$ (28,490)$ Investment income (loss) 120,000 120,000 517,528 397,528 Contributions from property owners - - 194 194 Other revenues 28,200 28,200 401,731 373,531 Total revenues 180,511 180,511 923,274 742,763 EXPENDITURES:

Current:

Community development 914,715 859,217 792,624 66,593 Total expenditures 914,715 859,217 792,624 66,593

REVENUES OVER (UNDER)
EXPENDITURES (734,204) (678,706) 130,650 809,356 OTHER FINANCING SOURCES (USES):

Transfers out - (123,596) - 123,596 Total other financing sources (uses) - (123,596) - 123,596 Net change in fund balances (734,204)$ (802,302)$ 130,650 932,952$ FUND BALANCES:

Beginning of year 10,517,459
End of year 10,648,109$
Budgeted Amounts
See accompanying Notes to Basic Financial Statements.
109
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Transportation Grants Special Revenue Fund
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Licenses and permits -$ -$ 11,457$ 11,457$ Intergovernmental 1,190,294 1,190,294 401,774 (788,520) Charges for services - - 1,689 1,689 Investment income (loss) 3,000 3,000 113,484 110,484 Other revenues 1,742,529 1,742,529 740,681 (1,001,848) Total revenues 2,935,823 2,935,823 1,269,085 (1,666,738) EXPENDITURES:

Current:

Public works 26,179,394 33,164,478 11,750,022 21,414,456 Community development 2,000,000 5,269,000 - 5,269,000 Capital outlay 596,865 2,261,191 4,052,569 (1,791,378) Total expenditures 28,776,259 40,694,669 15,802,591 24,892,078

REVENUES OVER (UNDER)
EXPENDITURES (25,840,436) (37,758,846) (14,533,506) 23,225,340 OTHER FINANCING SOURCES (USES):

Transfers in 29,597,953 41,165,060 15,492,127 (25,672,933) Transfers out (3,195,236) (3,195,236) (412,419) 2,782,817 Total other financing sources (uses) 26,402,717 37,969,824 15,079,708 (22,890,116) Net change in fund balances 562,281$ 210,978$ 546,202 335,224$ FUND BALANCES:

Beginning of year 5,362,784
End of year 5,908,986$
Budgeted Amounts
See accompanying Notes to Basic Financial Statements.
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City of Chino
Required Supplementary Information
For the year ended June 30, 2024
Schedule of Changes in the Total Pension Liability and Related Ratios - Miscellaneous Plan- Last Fiscal 10 Years Fiscal Year Ended 6/30/2016 6/30/2017 6/30/2018 6/30/2019 Measurement Period 6/30/2015 6/30/2016 6/30/2017 6/30/2018

TOTAL PENSION LIABILITY
Service cost 2,922,976$ 2,839,870$ 3,359,015$ 3,533,014$ Interest on total pension liability 10,560,056 10,932,714 11,593,235 12,266,723 Differences between expected and actual experience (336,491) (3,065,871) 1,307,041 2,032,772 Changes in assumptions (2,698,273) - 10,124,806 (540,457) Changes of benefit terms - - - - Benefit payments, including refunds of employee contributions (5,247,998) (5,760,536) (6,703,789) (7,520,484) Change in the total pension liability 5,200,270 4,946,177 19,680,308 9,771,568 Total pension liability - beginning 142,237,228 147,437,498 152,383,675 172,063,983 Total pension liability - ending (a) 147,437,498$ 152,383,675$ 172,063,983$ 181,835,551$

PLAN FIDUCIARY NET POSITION
Contributions - employer 3,026,694$ 3,572,975$ 3,879,119$ 41,851,842$ Contributions - employee 1,321,092 1,471,880 1,580,495 1,585,917 Net investment income 2,549,863 681,248 12,937,277 10,990,102 Benefit payments , Including Refunds of Employee (5,247,998) (5,760,536) (6,703,789) (7,520,484) Net Plan to Plan Resource Movement (361) (130) - (313) Administrative expense (129,601) (70,187) (169,878) (197,251) Other Miscellaneous Income/(Expense) - - - (374,583) Change in plan fiduciary net position 1,519,689 (104,750) 11,523,224 46,335,230 Plan fiduciary net position - beginning 113,644,702 115,164,391 115,059,641 126,582,865 Plan fiduciary net position - ending (b) 115,164,391$ 115,059,641$ 126,582,865$ 172,918,095$ Total pension liability - ending (a) - (b) 32,273,107$ 37,324,034$ 45,481,118$ 8,917,456$ Plan fiduciary net position as a percentage of
the total pension liability 78.11% 75.51% 73.57% 95.10% Covered payroll 16,982,863$ 16,927,455$ 18,905,961$ 19,711,096$ Total pension liability as a percentage of covered payroll 190.03% 220.49% 240.56% 45.24% Notes to the Schedule:

Benefit Changes:

Changes in Assumptions:

From fiscal year June 30, 2015 to June 30, 2016:

From fiscal year June 30, 2016 to June 30, 2017: There were no changes in assumptions.

From fiscal year June 30, 2017 to June 30, 2018: The discount rate was reduced from 7.65% to 7.15%.

From fiscal year June 30, 2018 to June 30, 2019: There were no changes in assumptions.

From fiscal year June 30, 2019 to June 30, 2020: There were no changes in assumptions.

From fiscal year June 30, 2020 to June 30, 2021: There were no changes in assumptions.

From fiscal year June 30, 2021 to June 30, 2023: The discount rate was reduced from 7.15% to 6.90%.

GASB 68, paragraph 68 states that the long-term expected rate of return should be determined net of pension plan investment expense but without reduction for pension plan administrative expense. The discount rate of 7.50% used for the June 30, 2014 measurement date was net of administrative expenses. the discount rate of 7.65% used for the June 30, 2015 measurement date is without reduction of pension plan administrative expense.

There were no changes in benefits.
112
6/30/2020 6/30/2021 6/30/2022 6/30/2023 6/30/2023 6/30/2024 6/30/2019 6/30/2020 6/30/2021 6/30/2022 6/30/2022 6/30/2023 3,471,230$ 3,674,382$ 3,801,316$ 4,084,815$ 4,084,815$ 4,269,803$ 12,988,930 13,539,627 14,202,089 14,823,583 14,823,583 15,427,689 2,242,633 (314,640) 1,084,541 (411,651) (411,651) (340,076) - - - 8,049,349 8,049,349 - - - - - - 280,056 (8,300,865) (8,789,232) (9,404,424) (9,753,413) (9,753,413) (10,618,035) 10,401,928 8,110,137 9,683,522 16,792,683 16,792,683 9,019,437 181,835,551 192,237,479 200,347,616 210,031,138 226,823,821 226,823,821 192,237,479$ 200,347,616$ 210,031,138$ 226,823,821$ 243,616,504$ 235,843,258$ 2,409,340$ 2,813,995$ 3,231,835$ 3,218,786$ 3,218,786$ # 3,720,580$ 1,578,035 1,848,147 1,718,451 1,790,656 1,790,656 1,839,684 11,194,752 8,817,486 40,928,988 (16,340,392) (16,340,392) 12,105,400 (8,300,865) (8,789,232) (9,404,424) (9,753,413) (9,753,413) (10,618,035) - - - - - - (123,398) (253,299) (183,918) (137,299) (137,299) (146,470) 313 - - - - (2,014) 6,758,177 4,437,097 36,290,932 (21,221,662) (21,221,662) 6,899,145 172,918,095 179,676,272 184,113,369 220,404,301 199,182,639 199,182,639 179,676,272$ 184,113,369$ 220,404,301$ 199,182,639$ 177,960,977$ 206,081,784$ 12,561,207$ 16,234,247$ (10,373,163)$ 27,641,182$ 65,655,527$ 29,761,474$

93.47% 91.90% 104.94% 87.81% 73.05% 87.38%
20,468,930$ 22,167,532$ 22,814,783$ 22,917,291$ 22,917,291$ 24,559,076$

61.37% 73.23% -45.47% 120.61% 286.49% 121.18%
113
City of Chino
Required Supplementary Information
For the year ended June 30, 2024
Schedule of Plan Contributions Miscellaneous Plan - Last 10 Fiscal Years Fiscal Year Ended 2015 2016 2017 2018
Actuarially determined contribution 2,897,558$ 3,026,694$ 3,872,592$ 4,109,530$ Contributions in relation to actuarially
determined contributions (2,897,558)$ (3,026,694) (3,872,592) (41,854,095) Contribution deficiency (excess) -$ -$ -$ (37,744,565)$ Covered payroll 16,982,863$ 16,927,455$ 18,905,961$ 19,711,096$ Contributions as a percentage of
covered payroll 17.06% 17.88% 20.48% 20.85%
Notes to Schedule
Valuation Date 6/30/2012 6/30/2013 6/30/2014 6/30/2015
Methods and Assumptions used to Determine Contribution Rates:

Actuarial Cost Method Entry Age Entry Age Entry Age Entry Age Amortization Method (1) (1) (1) (1)
Asset Valuation Method 15 year
Smoothed
Market
Method
Fair Value Fair Value Fair Value
Inflation 2.75% 2.75% 2.75% 2.75%
Salary Increases (2) (2) (2) (2)
Investment Rate of Return 7.50% (3) 7.50% (3) 7.50% (3) 7.50% (3) Retirement Age (4) (4) (4) (4)
Mortality (5) (5) (5) (5)
(1) level Percentage of payroll, Closed.
(2) Depending on age, Service, and type of employment
(3)Net of pension plan investment expense, including inflation (4)2.5%@55, 2.0%@60,2%@62
(5)Mortality Assumptions are based on mortality rates resulting from the most recent CalPERS Experience Study adopted by the CalPERS Board.
114
2019 2020 2021 2022 2023 2024
2,342,244$ 2,809,189$ 3,187,285$ 3,219,632$ 3,218,786$ 3,101,583$ (2,342,244) (2,809,189) (3,187,285) (3,219,632) (3,218,786) (3,101,583) -$ -$ -$ -$ -$ -$ 20,468,930$ 22,167,532$ 22,814,783$ 22,917,291$ 24,559,076$ 28,708,421$

11.44% 12.67% 13.97% 14.05% 13.11% 10.80%
6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age (1) (1) (1) (1) (1) (1)
Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value

2.75% 2.63% 2.50% 2.50% 2.50% 2.30%
(2) (2) (2) (2) (2) (2)

7.375% (3) 7.25% (3) 7.00% (3) 7.00% (3) 7.00% (3) 6.90% (3) (4) (4) (4) (4) (4) (4)
(5) (5) (5) (5) (5) (5)
115
City of Chino
Required Supplementary Information
For the year ended June 30, 2024
Schedule of the City's proportionate Share of the Plan's Total Pension Liability and Related Ratios Safety Plan - Last Fiscal 10 Years
Fiscal Year Ended 6/30/2015 6/30/2016 6/30/2017 6/30/2018 Measurement Period 6/30/2014 6/30/2015 6/30/2016 6/30/2017 Plan's proportion of the total pension liability 0.59610% 0.63316% 0.65499% 0.65182% Plan's proportionate share of
the total pension liability (Asset) 22,359,492$ 26,089,128$ 33,922,916$ 39,017,643$ Plan's covered payroll 9,866,520$ 10,117,974$ 10,811,649$ 11,396,258$ Plan's proportionate share of
total pension liability as percentage
of its covered payroll 226.62% 257.85% 313.76% 342.37%
Fiduciary net position as a percentage of the 79.82% 78.40% 74.06% 73.31% Total pension liability
Notes to the schedule:

Benefit Changes: There were no changes in benefits.

Changes in Assumptions :

From fiscal year June 30, 2015 to June 30, 2016:

From fiscal year June 30, 2016 to June 30, 2017: There were no changes in assumptions.

From fiscal year June 30, 2017 to June 30, 2018: The discount rate was reduced from 7.65% to 7.15%.

From fiscal year June 30, 2018 to June 30, 2019: There were no changes in assumptions.

From fiscal year June 30, 2019 to June 30, 2020: There were no changes in assumptions.

From fiscal year June 30, 2020 to June 30, 2021: There were no changes in assumptions.

From fiscal year June 30, 2021 to June 30, 2023: The discount rate was reduced from 7.15% to 6.90%.

0.10718% 0.15455% 0.20786% 0.27819% 0.18983% 0.02795%
6,288,881$ 9,647,636$ 13,848,606$ (9,575,953)$ 21,926,970$ 27,169,395$ 11,942,294$ 11,992,170$ 12,300,729$ 13,367,913$ 13,920,745$ 15,173,214$

52.66% 80.45% 112.58% -71.63% 157.51% 179.06%

75.26% 75.26% 75.10% 88.29% 76.68% 79.74%
117
City of Chino
Required Supplementary Information
For the year ended June 30,2024
Schedule of Plan Contributions Safety Plan - Last 10 Fiscal Years Fiscal Year Ended June 30, 2015 2016 2017 2018
Actuarially determined contribution 2,604,792$ 2,949,362$ 3,371,422$ 3,703,489$ Contributions in relation to the actuarially determined (2,604,792) (2,949,362) (3,371,422) (35,080,851) Contribution deficiency (excess) -$ -$ -$ (31,377,362)$ Covered payroll 10,117,974$ 10,811,649$ 11,396,258$ 11,942,294$ Contributions as a percentage
of covered payroll 25.74% 27.28% 29.58% 31.01%
Notes to Schedule
Valuation Date 6/30/2012 6/30/2013 6/30/2014 6/30/2015
Methods and Assumptions used to Determine Contribution Rates:

Actuarial Cost Method Entry Age Entry Age Entry Age Entry Age Amortization Method (1) (1) (1) (1)
Asset Valuation Method 15 year
Smoothed
Market
Method
Fair Value Fair Value Fair Value
Inflation 2.75% 2.75% 2.75% 2.75%
Salary Increases (2) (2) (2) (2)
Investment Rate of Return 7.50% (3) 7.50% (3) 7.50% (3) 7.50% (3) Retirement Age (4) (4) (4) (4)
Mortality (5) (5) (5) (5)
(1) level Percentage of payroll, Closed.
(2) Depending on age, Service, and type of employment
(3) Net of pension plan investment expense, including inflation (4) 50 years for 3.00% @50, 2% @50, and 2.7% @57
(5) Mortality Assumptions are based on mortality rates resulting from the most recent CalPERS Experience Study adopted by the CalPERS Board.
118
2019 2020 2021 2022 2023 2024
2,807,483$ 2,935,244$ 3,288,900$ 3,552,112$ 3,987,991$ 3,153,208$ (2,807,483) (2,969,930) (3,326,197) (3,552,112) (3,987,991) (3,153,208) -$ (34,686)$ (37,297)$ -$ -$ -$ 11,992,170$ 12,300,729$ 13,367,913$ 13,920,745$ 15,173,214$ 16,307,255$

23.41% 23.86% 24.60% 25.52% 26.28% 19.34%
6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Entry Age Entry Age Entry Age Entry Age Entry Age Entry Age (1) (1) (1) (1) (1) (1)
Fair Value Fair Value Fair Value Fair Value Fair Value Fair Value

2.75% 2.625% 2.50% 2.50% 2.50% 2.30%
(2) (2) (2) (2) (2) (2)

7.375% (3) 7.25% (3) 7.00% (3) 7.00% (3) 7.00% (3) 6.90% (3) (4) (4) (4) (4) (4) (4)
(5) (5) (5) (5) (5) (5)
119
City of Chino
Required Supplementary Information
For the year ended June 30, 2024
Schedule of Changes in the Total Pension Liability and Related Ratios Supplemental Safety Plan- Last 10 Fiscal Years*
Fiscal Year Ended 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Measurement Period 6/30/2017 6/30/2018 6/30/2019 6/30/2020 Total Pension Liability
Service cost 39,094$ 35,621$ 38,335$ 41,549$ Interest 106,068 115,834 111,387 105,491 Differences between expected and
actual experience - - - 170,094 Changes of assumptions (218,667) 68,801 84,537 12,930 Benefit payments (176,910) (183,169) (188,613) (199,913) Net change in the total Pension liability (250,415) 37,087 45,646 130,151 Total Pension Liability - beginning 4,007,135 3,756,720 3,793,807 3,839,453 Total Pension Liability - ending 3,756,720 3,793,807 3,839,453 3,969,604 Covered-employee payroll 2,459,360$ 2,685,209$ 2,232,221$ 2,011,613$ Pension liability as a percentage of covered-employee payroll 152.75% 141.29% 172.00% 197.33% Notes to Schedule:

Benefit Changes:

Changes in Assumptions :
* Fiscal year 2018 was the first year of implementation; therefore, only seven years are shown.

There are no assets accumulated in a trust that meet the criteria of GASB codification P22.101 or P52.101 to pay related benefits for the pension plan.

In 2021,the accounting discount rate decreased from 2.66% to 2.18% In 2022,the accounting discount rate increased from 2.18% to 4.09% There were no changes in benefits.

In 2017,the accounting discount rate increased from 2.68% to 3.13% In 2018,the accounting discount rate decreased from 3.13% to 2.98% In 2019,the accounting discount rate decreased from 2.98% to 2.79% In 2020,the accounting discount rate decreased from 2.79% to 2.66% In 2023,the accounting discount rate increased from 4.09% to 4.13% 120
6/30/2022 6/30/2023 6/30/2024
6/30/2021 6/30/2022 6/30/2023
32,369$ 35,148$ 21,358$
103,696 90,394 132,524
66,477 - -
258,730 (794,329) -
(207,219) (224,545) (222,972)
254,053 (893,332) (69,090)
3,969,604 4,223,657 3,330,325
4,223,657 3,330,325 3,261,235
1,885,951$ 1,399,545$ 1,096,468$
223.95% 237.96% 297.43%
121
City of Chino
Required Supplementary Information
For the year ended June 30, 2024
Schedule of Changes in the Total OPEB Liability and Related Ratios Other Postemployment Benefits - Last 10 Fiscal Years*
Fiscal Year Ended 6/30/2018 6/30/2019 6/30/2020 6/30/2021 Measurement Period 6/30/2017 6/30/2018 6/30/2019 6/30/2020 Total OPEB Liability
Service cost 1,108,216$ 1,012,716$ 1,088,776$ 1,183,724$ Interest on Total OPEB liability 466,515 541,577 566,369 585,174 Changes of assumptions (1,335,811) 458,871 646,694 (311,696) Differences between expected and actual experience - - - (1,725,558) Benefit payments (126,971) (368,852) (403,826) (453,133) Net change in the total OPEB liability 111,949 1,644,312 1,898,013 (721,489) Total OPEB liability - beginning 16,362,548 16,474,497 18,118,809 20,016,822 Total OPEB liability - ending 16,474,497 18,118,809 20,016,822 19,295,333 Covered-employee payroll 26,679,011$ 27,638,872$ 28,457,004$ 30,894,581$ Total OPEB liability as a percentage of covered-employee payroll 61.75% 65.56% 70.34% 62.46%
Notes to Schedule:

Benefit Changes:

Changes in Assumptions :
* Fiscal year 2018 was the first year information was available ;therefore, only seven years are shown.

In 2023,the accounting discount rate increased from 4.09% to 4.13% In 2020,the accounting discount rate decreased from 2.79% to 2.66% In 2021,the accounting discount rate decreased from 2.66% to 2.18% In 2022,the accounting discount rate increased from 2.18% to 4.09% There are no assets accumulated in a trust that meets the criteria of GASB codification to pay related benefits for the OPEB plan.

There were no changes in benefits.

In 2018,the accounting discount rate decreased from 3.13% to 2.98% In 2019,the accounting discount rate decreased from 2.98% to 2.79% 122
6/30/2022 6/30/2023 6/30/2024
6/30/2021 6/30/2022 6/30/2023
1,189,928$ 1,339,147$ 831,210$
538,901 493,765 714,787
1,565,704 (6,027,762) (3,931,944)
(586,494) - -
(451,650) (482,242) (458,779)
2,256,389 (4,677,092) (2,844,726)
19,295,333 21,551,722 16,874,630
21,551,722 16,874,630 14,029,904
32,461,448$ 33,539,453$ 36,880,606$

66.39% 50.31% 38.04%
123
City of Chino
Notes to Required Supplementary Information
For the year ended June 30, 2024

1. BUDGET AND BUDGETARY ACCOUNTING
a.
b.
c.
d.
e.
f.
g.

The City follows these procedures in establishing the budgetary data reflected in the financial statements:

Budgets for the General, Special Revenue, Debt Service, and Capital Projects Funds are adopted on a basis substantially consistent with GAAP. Accordingly, actual revenues and expenditures can be compared with related budget amounts without any significant reconciling items. No budgetary comparisons are presented for the Community Facilities Districts 03-03, 05-1, 06-1, 06-3, 16-1, 16-2, and 19-1 Capital Projects Funds since a budget was not adopted for these funds.

The City Council approves all significant budgetary changes.

Under Article XIIIB of the California Constitution (the Gann Spending Limitation Initiative), the City is restricted as to the amount of annual appropriations from proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller or returned to the taxpayers through revised tax rates or revised fee schedules or an excess in one year may be offset against a deficit in following year.

For the fiscal year ended June 30, 2023, based on calculations by City management, proceeds of taxes did not exceed appropriations
Estimated revenue is the original estimate with modifications for new programs that are anticipated to be received during the fiscal year.

Budget control is maintained over all accounts, and expenditures are not allowed to exceed appropriations at the fund level.

Encumbrance accounting under which purchase orders, contracts, and other commitments for the expenditure of monies are recorded to reserve that portion of the applicable appropriation is employed as an extension of formal budgetary integration in the governmental fund types during the year. However, at year-end, all appropriations lapse. Accordingly, encumbrances are canceled and generally reappropriated as part of the following year’s budget.

Encumbrances are not included in reported expenditures.

The annual budget is adopted by the City Council after the holding of a public hearing and provides for the general operation of the City. The operating budget includes proposed expenditures and the means of financing them. 124

SUPPLEMENTARY INFORMATION
125
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126
City of Chino
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Park Development Capital Projects Fund
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 2,659,092$ 2,659,092$ 600,463$ (2,058,629)$ Charges for services 1,240,000 1,240,000 2,130,984 890,984 Investment income (loss) 160,972 160,972 767,688 606,716 Other revenues 97,918 97,918 104,950 7,032 Total revenues 4,157,982 4,157,982 3,604,085 (553,897) EXPENDITURES:

Current:

Parks and community services 263,453 263,453 231,064 32,389 Capital outlay 10,340,106 12,970,807 2,548,902 10,421,905 Total expenditures 10,603,559 13,234,260 2,779,966 10,454,294

REVENUES OVER (UNDER)
EXPENDITURES (6,445,577) (9,076,278) 824,119 9,900,397 OTHER FINANCING SOURCES (USES):

Transfers in 7,548,894 7,548,894 1,426,363 (6,122,531) Transfers out (5,613,765) (5,613,765) (5,095,483) 518,282 Total other financing sources (uses) 1,935,129 1,935,129 (3,669,120) (5,604,249) Net change in fund balances (4,510,448)$ (7,141,149)$ (2,845,001) 4,296,148$ FUND BALANCES:

Beginning of year 15,786,426
End of year 12,941,425$
Budgeted Amounts
127
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128
City of Chino
Nonmajor Governmental Funds
June 30, 2024

SPECIAL REVENUE FUNDS
Special Revenue Funds account for taxes and other revenues set aside in accordance with law or administrative regulations for expenditures restricted or committed for specified services. Special Revenue Funds include the following:

Traffic Safety Fund
Used to account for expenditures financed by revenue generated from enforcement of California vehicle codes and City ordinances. These restricted funds may only be used for traffic signals, school crossing guards, and other related traffic safety expenditures.

Gas Tax Fund
Used to account for the receipts and disbursements of money apportioned under Streets and Highway Code Sections 2105, 2106, and 2107 of the state of California.

Public Education Government
Used to account for franchise fees collected from the City's cable operations. Also used to produce programing for PEG access channels and pay for personnel, equipment, and maintenance costs for the channel.

Transportation Tax Fund
Used to account for receipts and disbursements of money apportioned under the Transportation Act of the state of California.

Measure I Half-Cent Sales Tax Fund
Used to account for receipts and disbursements of money apportioned under the Measure I of the County of San Bernardino.

Community Services
Used to account for expenditures relating to various community services.

Community Development Block Grant Fund
Used to account for the receipts and disbursements of the Community Development Block Grant Program.

Maintenance District Fund
Used to account for City-wide street lighting and landscape maintenance costs and the collection of assessments from property owners and the related costs for areas included in lighting and landscape districts.

SCAQMD Fund
Used to account for receipts and disbursements for air quality improvement.

Local Public Safety Fund
Used to account for revenues received from a voter-approved increase in sales tax for public safety services. 129
City of Chino
Nonmajor Governmental Funds
June 30, 2024
SPECIAL REVENUE FUNDS (Continued)
Home Investment Partnership Fund
Used to account for a major federal grant awarded to the City to support housing activities.

Asset Forfeitures Fund
Used to account for the revenues from the seizure of property related to drug crimes. These revenues are to be used for programs related to the preventions of drug abuse and drug enforcement.

Bureau of Justice Assistance Grant Fund
Used to account for the receipts and disbursements of the Bureau of Justice Assistance Grant for local law enforcement.

Citizen's Option for Public Safety (COPS) Program - State AB 3229 Grant Fund Used to account for the receipts and disbursements of the Citizen's Option for Public Safety Program for nonbudgeted front-line public safety services.

Environmental Mitigation Fund
Used to account for receipts and disbursements for managing environmental improvements and enhancing existing public facilities within the Preserve area..

CalHome Fund
Used to account for the receipt and distribution of Proposition 1 C funds to implement various affordable housing programs including first-time home buyers and housing rehabilitation programs.

Highway Safety Improvement Fund
Used to account for receipts and disbursements relating to federal and state transportation grants.

Road Maintenance and Rehabilitation Account (RMRA)
Used to account for the City's share of gas tax monies for the purpose of construction, reconstruction, maintenance, and right-of-way acquisition relating to streets and highways.

Assessment District Fund
Used to account for receipts and disbursements relating to special assessments. 130
City of Chino
Nonmajor Governmental Funds
June 30, 2024
SPECIAL REVENUE FUNDS (Continued)
Measure I Valley SubArea Program Fund
Used to account for receipts and disbursements of money apportioned under the Measure I of the San Bernardino County Transit Authority.

CAPITAL PROJECTS FUNDS
The following Capital Projects Funds are used to account for resources that are restricted, committed, or assigned for the acquisition of capital facilities and other capital assets:

Community Facilities District 05-1 Fund
Used to account for capital projects financed by the issuance of Mello-Roos Community Facilities Bonds as required by the Mello-Roos Community Facilities Act of 1982.

Community Facilities District 06-1 Fund
Used to account for capital projects financed by the issuance of Mello-Roos Community Facilities Bonds as required by the Mello-Roos Community Facilities Act of 1982.

Community Faculties District 06-3 Fund
Used to account for capital projects financed by the issuance of Mello-Roos Community Facilities Bonds as required by the Mello-Roos Community Facilities Act of 1982.

Community Facilities District 16-1 Fund
Used to account for capital projects financed by the issuance of Mello-Roos Community Facilities Bonds as required by the Mello-Roos Community Facilities Act of 1982.

Community Facilities District 16-2 Fund
Used to account for capital projects financed by the issuance of Mello-Roos Community Facilities Bonds as required by the Mello-Roos Community Facilities Act of 1982.

Community Facilities District 19-1 Fund
Used to account for capital projects financed by the issuance of Mello-Roos Community Facilities Bonds as required by the Mello-Roos Community Facilities Act of 1982.

Community Facilities District 21-1 Fund
Used to account for capital projects financed by the issuance of Mello-Roos Community Facilities Bonds as required by the Mello-Roos Community Facilities Act of 1982.
131
City of Chino
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
Traffic
Safety Gas Tax
Public
Education
Government
Transportation
Tax
ASSETS
Cash and investments -$ -$ 865,998$ -$ Cash and investments with fiscal agents - - - - Accounts receivable 24,849 461,366 22,513 358,673 Taxes receivable - - - - Interest receivable - - 3,914 - Prepaid expenses - - - - Loans receivable, net of allowances - - - - Total assets 24,849$ 461,366$ 892,425$ 358,673$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES

Liabilities:

Accounts payable -$ -$ -$ -$ Accrued liabilities - - - - Deposits payable - - - - Retentions payable - - - - Due to other funds 24,849 461,366 - 357,901 Due to other governments - - - - Advances from other funds - - - - Total liabilities 24,849 461,366 - 357,901

Deferred Inflows of Resources
Unavailable revenue - - - 358,673 Total deferred inflows of resources - - - 358,673

Fund Balances:

Nonspendable - - - - Restricted - - 892,425 - Committed - - - - Unassigned - - - (357,901) Total fund balances - - 892,425 (357,901) Total liabilities, deferred inflows of
resources and fund balances 24,849$ 461,366$ 892,425$ 358,673$ Special Revenue Funds
132
Measure I
Half-Cent
Sales Tax
Community
Services
Community
Development
Block Grant
Maintenance
District SCAQMD
Local
Public Safet
3,359,755$ -$ -$ 436,636$ 1,092,717$ -$ - - - - - - 588,811 1,165,931 122,672 65,992 31,334 97,678 - - - - - - 15,187 - - - 4,939 - - 570 - - - - - - 47,834 - - - 3,963,753$ 1,166,501$ 170,506$ 502,628$ 1,128,990$ 97,678$ 136,859$ 79,163$ 41,331$ 437,158$ -$ -$ - (5,447) - - - - - 1,211 - - - - 16,939 - - - - - - - 81,341 - - 97,678 - 17,265 47,834 - - - - - - - - - 153,798 92,192 170,506 437,158 - 97,678 - 539,469 - 65,470 31,334 - - 539,469 - 65,470 31,334 - - 570 - - - - 3,809,955 534,270 - - 1,097,656 - - - - - - - - - - - - - 3,809,955 534,840 - - 1,097,656 - 3,963,753$ 1,166,501$ 170,506$ 502,628$ 1,128,990$ 97,678$ Special Revenue Funds
133
City of Chino
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2024
Home
Investment
Partnership
Asset
Forfeitures
Bureau of
Justice
Assistance
Grant
COPS Program
State AB 3229
Grant
ASSETS
Cash and investments 1,233,511$ 897,805$ 8,430$ 585,137$ Cash and investments with fiscal agents - - - - Accounts receivable - - - - Taxes receivable - - - - Interest receivable 5,576 4,058 - 2,645 Prepaid expenses - - - - Loans receivable, net of allowances 24,914 - - - Total assets 1,264,001$ 901,863$ 8,430$ 587,782$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES

Liabilities:

Accounts payable -$ 845$ 2,164$ -$ Accrued liabilities - - - - Deposits payable - - - - Retentions payable - - - - Due to other funds - - - - Due to other governments 24,914 23,574 - - Advances from other funds - - - - Total liabilities 24,914 24,419 2,164 -

Deferred Inflows of Resources
Unavailable revenue - - - - Total deferred inflows of resources - - - -

Fund Balances:

Nonspendable - - - - Restricted 1,239,087 877,444 6,266 587,782 Committed - - - - Unassigned - - - - Total fund balances 1,239,087 877,444 6,266 587,782 Total liabilities, deferred inflows of
resources and fund balances 1,264,001$ 901,863$ 8,430$ 587,782$ Special Revenue Funds
134
Environmental
Mitigation Cal Home
Highway Safety
Improvement RMRA
Assessment
District Fund
Measure I
Valley
SubArea
Program
1,043,555$ 78,246$ 34,027$ 2,252,692$ 78,869$ -$ - - - - - -
- - - 418,877 2,812 587,888
- - - - 6,173 -
4,717 354 154 10,183 - -
- - - - - -
- 1,791,299 - - - -
1,048,272$ 1,869,899$ 34,181$ 2,681,752$ 87,854$ 587,888$ -$ -$ -$ 853,223$ 85,042$ 56,486$
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- 1,791,299 - - - -
- - - - - 1,629,181
- 1,791,299 - 853,223 87,854 1,685,667
- - - - - 587,888
- - - - - 587,888
- - - - - -
- 78,600 34,181 1,828,529 - -
1,048,272 - - - - -
- - - - - (1,685,667)
1,048,272 78,600 34,181 1,828,529 - (1,685,667) 1,048,272$ 1,869,899$ 34,181$ 2,681,752$ 87,854$ 587,888$ Special Revenue Funds
135
City of Chino
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2024
Community
Facilities
District 05-1
Community
Facilities
District 06-1
Community
Facilities
District 06-3
Community
Facilities
District 16-1
ASSETS
Cash and investments -$ 576,548$ -$ -$
Cash and investments with fiscal agents 190,392 - 727,570 739,350 Accounts receivable - - - -
Taxes receivable - - - -
Interest receivable 815 2,606 2,944 2,992
Prepaid expenses - - - -
Loans receivable, net of allowances - - - -
Total assets 191,207$ 579,154$ 730,514$ 742,342$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable -$ -$ -$ -$
Accrued liabilities - - - -
Deposits payable - - - -
Retentions payable - - - -
Due to other funds - - - -
Due to other governments - - - -
Advances from other funds - - - -
Total liabilities - - - -
Deferred Inflows of Resources
Unavailable revenue - - - -
Total deferred inflows of resources - - - -
Fund Balances:

Nonspendable - - - -
Restricted 191,207 579,154 730,514 742,342
Committed - - - -
Unassigned - - - -
Total fund balances 191,207 579,154 730,514 742,342 Total liabilities, deferred inflows of
resources and fund balances 191,207$ 579,154$ 730,514$ 742,342$ Capital Project Funds
136
Community
Facilities
District 16-2
Community
Facilities
District 19-1
-$ -$ -$ 12,543,926$
568,626 - 3,055,856 5,281,794
- - - 3,949,396
- - - 6,173
5,368 - 13,063 79,515
- - - 570
- - - 1,864,047
573,994$ -$ 3,068,919 $ 23,725,421$
-$ -$ -$ 1,692,271$
- - - (5,447)
- - - 1,211
- - - 16,939
- - - 1,023,135
- - - 1,904,886
- - - 1,629,181
- - - 6,264,988
- - - 1,582,834
- - - 1,582,834
- - - 570
573,994 - 3,068,919 16,872,325
- - - 1,048,272
- - - (2,043,568)
573,994 - 3,068,919 15,877,599
573,994$ -$ 3,068,919$ 23,725,421$
Total
Nonmajor
Governmental
Funds
Community
Facilities
District 21-1
Capital Project Funds
137
City of Chino
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit) Nonmajor Governmental Funds
For the year ended June 30, 2024
Traffic
Safety Gas Tax
Public
Education
Government
Transportation
Tax
REVENUES:

Taxes -$ -$ -$ -$ Intergovernmental - 2,564,458 - 127,647 Charges for services - - 94,049 - Investment income (loss) 1,766 36,651 44,879 - Fines and forfeitures 108,853 - - - Contributions from property owners - - - - Other revenues - - - - Total revenues 110,619 2,601,109 138,928 127,647 EXPENDITURES:

Current:

Public safety - - - - Public works - - - - Community development - - - - Parks and community services - - - - Capital outlay - - - - Debt service:

Principal - - - - Interest and fiscal charges - - - - Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 110,619 2,601,109 138,928 127,647 OTHER FINANCING SOURCES (USES):

Transfers in - - - - Transfers out (110,619) (2,601,109) (143,503) - Proceeds from sale of long-term debt - - - - Total other financing sources (uses) (110,619) (2,601,109) (143,503) - Net change in fund balances - - (4,575) 127,647 FUND BALANCES (DEFICIT):

Beginning of year - - 897,000 (485,548) End of year -$ -$ 892,425$ (357,901)$ Special Revenue Funds
138
Measure I
Half-Cent
Sales Tax
Community
Services
Community
Development
Block Grant
Maintenance
District SCAQMD
Local
Public Safet
-$ -$ -$ -$ -$ 1,289,078$ 2,424,922 3,395,791 558,544 - 93,946 - - 1,908,161 - - - - 183,708 - - - 46,335 22,654 - - - - - - - - - - - - - 224,069 - - - - 2,608,630 5,528,021 558,544 - 140,281 1,311,732 - - - - - - 102,403 - - - - - - - 253,833 - 5,820 - - 11,069,913 - - - - 1,260,647 - 304,711 7,753,591 - - - - - - - - - - - - - - 1,363,050 11,069,913 558,544 7,753,591 5,820 - 1,245,580 (5,541,892) - (7,753,591) 134,461 1,311,732 - 5,898,141 - 7,753,591 - - (1,212,461) - - - - (1,311,732) - - - - - - (1,212,461) 5,898,141 - 7,753,591 - (1,311,732) 33,119 356,249 - - 134,461 - 3,776,836 178,591 - - 963,195 - 3,809,955$ 534,840$ -$ -$ 1,097,656$ -$ Special Revenue Funds
139
City of Chino
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit) Nonmajor Governmental Funds (Continued)
For the year ended June 30, 2024
Home
Investment
Partnership
Asset
Forfeitures
Bureau of
Justice
Assistance
Grant
COPS Program
State AB 3229
Grant
REVENUES:

Taxes -$ -$ -$ -$ Intergovernmental - - 55,935 267,635 Charges for services - - - - Investment income (loss) 55,893 37,536 695 24,708 Fines and forfeitures - 145,408 - - Contributions from property owners - - - - Other revenues 43,340 - - - Total revenues 99,233 182,944 56,630 292,343 EXPENDITURES:

Current:

Public safety - 24,880 22,451 156,166 Public works - - - (11,800) Community development - - - - Parks and community services - - - - Capital outlay - 13,500 56,402 - Debt service:

Principal - - - 11,192 Interest and fiscal charges - - - 608 Total expenditures - 38,380 78,853 156,166

REVENUES OVER (UNDER)
EXPENDITURES 99,233 144,564 (22,223) 136,177 OTHER FINANCING SOURCES (USES):

Transfers in - - - - Transfers out - - - - Proceeds from sale of long-term debt - - - - Total other financing sources (uses) - - - - Net change in fund balances 99,233 144,564 (22,223) 136,177 FUND BALANCES (DEFICIT):

Beginning of year 1,139,854 732,880 28,489 451,605 End of year 1,239,087$ 877,444$ 6,266$ 587,782$ Special Revenue Funds
140
Environmental
Mitigation Cal Home
Highway Safety
Improvement RMRA
Assessment
District Fund
Measure I
Valley
SubArea
Program
-$ -$ -$ -$ -$ -$ - - - 2,403,498 - - - - - - 687,356 - 49,055 6,606 805 90,835 - - - - - - - - - - - - - - - 36,805 - - - - 49,055 43,411 805 2,494,333 687,356 - - - - - - - - - - 495,778 1,348,844 - - 110,600 - - - - - - - - - - - - - 1,827,824 - 99,876 - - - - - - - - - - - - - 110,600 - 2,323,602 1,348,844 99,876 49,055 (67,189) 805 170,731 (661,488) (99,876) - - - - 661,488 - - - - - - - - - - - - - - - - - 661,488 - 49,055 (67,189) 805 170,731 - (99,876) 999,217 145,789 33,376 1,657,798 - (1,585,791) 1,048,272$ 78,600$ 34,181$ 1,828,529$ -$ (1,685,667)$ Special Revenue Funds
141
City of Chino
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit) Nonmajor Governmental Funds (Continued)
For the year ended June 30, 2024
Community
Facilities
District 05-1
Community
Facilities
District 06-1
Community
Facilities
District 06-3
Community
Facilities
District 16-1
REVENUES:

Taxes -$ -$ -$ -$ Intergovernmental - - - - Charges for services - - - - Investment income (loss) 37,373 27,102 35,283 62,269 Fines and forfeitures - - - - Contributions from property owners - - - - Other revenues - - - - Total revenues 37,373 27,102 35,283 62,269 EXPENDITURES:

Current:

Public safety - - - - Public works - - - - Community development - - - - Parks and community services - - - - Capital outlay 1,441,007 - - 4,665,249 Debt service:

Principal - - - - Interest and fiscal charges - - - - Total expenditures 1,441,007 - - 4,665,249

REVENUES OVER (UNDER)
EXPENDITURES (1,403,634) 27,102 35,283 (4,602,980) OTHER FINANCING SOURCES (USES):

Transfers in - - - - Transfers out - - - - Proceeds from sale of long-term debt - - - - Total other financing sources (uses) - - - - Net change in fund balances (1,403,634) 27,102 35,283 (4,602,980) FUND BALANCES (DEFICIT):

Beginning of year 1,594,841 552,052 695,231 5,345,322 End of year 191,207$ 579,154$ 730,514$ 742,342$ Capital Project Funds
142
Community
Facilities
District 16-2
Community
Facilities
District 19-1
Community
Facilities
District 21-1
-$ -$ -$ 1,289,078$ - - - 11,892,376 - - - 2,689,566 105,075 574 110,865 980,667 - - - 254,261 - - 6,212,347 6,212,347 - - - 304,214 105,075 574 6,323,212 23,622,509 - - - 203,497 - - - 1,935,225 - - - 370,253 - - - 11,069,913 2,299,189 34,955 3,254,293 23,011,244 - - - 11,192 - - - 608 2,299,189 34,955 3,254,293 36,601,932 (2,194,114) (34,381) 3,068,919 (12,979,423) - - - 14,313,220 - - - (5,379,424) - - - - - - - 8,933,796 (2,194,114) (34,381) 3,068,919 (4,045,627) 2,768,108 34,381 - 19,923,226 573,994$ -$ 3,068,919$ 15,877,599$ Total
Nonmajor
Governmental
Funds
Capital Project Funds
143
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Traffic Safety
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Investment income (loss) 800$ 800$ 1,766$ 966$ Fines and forfeitures 70,000 70,000 108,853 38,853 Total revenues 70,800 70,800 110,619 39,819 OTHER FINANCING SOURCES (USES):

Transfers out (70,800) (70,800) (110,619) (39,819) Total other financing sources (uses) (70,800) (70,800) (110,619) (39,819) Net change in fund balances -$ -$ - -$ FUND BALANCES:

Beginning of year -
End of year -$
Budgeted Amounts
144
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Gas Tax
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 2,618,291$ 2,618,291$ 2,564,458$ (53,833)$ Investment income (loss) 16,000 16,000 36,651 20,651 Total revenues 2,634,291 2,634,291 2,601,109 (33,182) OTHER FINANCING SOURCES (USES):

Transfers out (2,634,291) (2,634,291) (2,601,109) 33,182 Total other financing sources (uses) (2,634,291) (2,634,291) (2,601,109) 33,182 Net change in fund balances -$ -$ - -$ FUND BALANCES:

Beginning of year -
End of year -$
Budgeted Amounts
145
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Public Education Government
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Charges for services 78,000$ 78,000$ 94,049$ 16,049$ Investment income (loss) 10,000 10,000 44,879 34,879 Total revenues 88,000 88,000 138,928 50,928 OTHER FINANCING SOURCES (USES):

Transfers out (310,602) (310,602) (143,503) 167,099 Total other financing sources (uses) (310,602) (310,602) (143,503) 167,099 Net change in fund balances (222,602)$ (222,602)$ (4,575) 218,027$ FUND BALANCES:

Beginning of year 897,000
End of year 892,425$
Budgeted Amounts
146
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Transportation Tax
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 604,021$ 604,021$ 127,647$ (476,374)$ Total revenues 604,021 604,021 127,647 (476,374) Net change in fund balances 604,021$ 604,021$ 127,647 (476,374)$ FUND BALANCES:

Beginning of year (485,548)
End of year (357,901)$
Budgeted Amounts
147
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Measure I Half-Cent Sales Tax
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 2,785,003$ 2,785,003$ 2,424,922$ (360,081)$ Investment income (loss) 62,000 62,000 183,708 121,708 Total revenues 2,847,003 2,847,003 2,608,630 (238,373) EXPENDITURES:

Capital outlay 3,334,270 3,509,270 1,260,647 2,248,623 Total expenditures 4,299,890 4,474,890 1,363,050 3,111,840

REVENUES OVER (UNDER)
EXPENDITURES (1,452,887) (1,627,887) 1,245,580 2,873,467 OTHER FINANCING SOURCES (USES):

Transfers out (1,392,502) (1,392,502) (1,212,461) 180,041 Total other financing sources (uses) (1,392,502) (1,392,502) (1,212,461) 180,041 Net change in fund balances (2,845,389)$ (3,020,389)$ 33,119 3,053,508$ FUND BALANCES:

Beginning of year 3,776,836
End of year 3,809,955$
Budgeted Amounts
148
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Community Services
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 2,544,339$ 2,584,339$ 3,395,791$ 811,452$ Charges for services 2,583,970 2,583,970 1,908,161 (675,809) Other revenues 124,485 124,485 224,069 99,584 Total revenues 5,252,794 5,292,794 5,528,021 235,227 EXPENDITURES:

Current:

Parks and community services 12,543,979 12,808,217 11,069,913 1,738,304 Total expenditures 12,543,979 12,808,217 11,069,913 1,738,304

REVENUES OVER (UNDER)
EXPENDITURES (7,291,185) (7,515,423) (5,541,892) 1,973,531 OTHER FINANCING SOURCES (USES):

Transfers in 7,278,388 7,278,388 5,898,141 (1,380,247) Total other financing sources (uses) 7,278,388 7,278,388 5,898,141 (1,380,247) Net change in fund balances (12,797)$ (237,035)$ 356,249 593,284$ FUND BALANCES:

Beginning of year 178,591
End of year 534,840$
Budgeted Amounts
149
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Community Development Block Grant
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 1,313,941$ 1,106,373$ 558,544$ (547,829)$ Total revenues 1,313,941 1,106,373 558,544 (547,829) EXPENDITURES:

Current:

Community development 808,316 912,834 253,833 659,001 Capital outlay - - 304,711 (304,711) Total expenditures 808,316 912,834 558,544 354,290

REVENUES OVER (UNDER)
EXPENDITURES 505,625 193,539 - (193,539) Net change in fund balances 505,625$ 193,539$ - (193,539)$ FUND BALANCES:

Beginning of year -
End of year -$
Budgeted Amounts
150
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Maintenance District
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Other revenues 3,000$ 3,000$ -$ (3,000)$ Total revenues 3,000 3,000 - (3,000) EXPENDITURES:

Current:

Public works - - - - Total expenditures 8,760,249 9,080,595 7,753,591 1,327,004

REVENUES OVER (UNDER)
EXPENDITURES (8,757,249) (9,077,595) (7,753,591) 1,324,004 OTHER FINANCING SOURCES (USES):

Transfers in 8,757,249 9,254,032 7,753,591 (1,500,441) Total other financing sources (uses) 8,757,249 9,254,032 7,753,591 (1,500,441) Net change in fund balances -$ 176,437$ - (176,437)$ FUND BALANCES:

Beginning of year -
End of year -$
Budgeted Amounts
151
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual SCAQMD
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 110,000$ 110,000$ 93,946$ (16,054)$ Investment income (loss) 12,000 12,000 46,335 34,335 Total revenues 122,000 122,000 140,281 18,281 EXPENDITURES:

Current:

Community development 654,866 654,866 5,820 649,046 Total expenditures 654,866 654,866 5,820 649,046 Net change in fund balances (532,866)$ (532,866)$ 134,461 667,327$ FUND BALANCES:

Beginning of year 963,195
End of year 1,097,656$
Budgeted Amounts
152
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Local Public Safety
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Taxes 1,250,000$ 1,250,000$ 1,289,078$ 39,078$ Investment income (loss) 8,000 8,000 22,654 14,654 Total revenues 1,258,000 1,258,000 1,311,732 53,732 OTHER FINANCING SOURCES (USES):

Transfers out (1,258,000) (1,258,000) (1,311,732) (53,732) Total other financing sources (uses) (1,258,000) (1,258,000) (1,311,732) (53,732) Net change in fund balances -$ -$ - -$ FUND BALANCES:

Beginning of year -
End of year -$
Budgeted Amounts
153
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Home Investment Partnership
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Investment income (loss) 15,000$ 15,000$ 55,893$ 40,893$ Other revenues 36,700 36,700 43,340 6,640 Total revenues 51,700 51,700 99,233 47,533 Net change in fund balances 51,700$ 51,700$ 99,233 47,533$ FUND BALANCES:

Beginning of year 1,139,854
End of year 1,239,087$
Budgeted Amounts
154
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Asset Forfeitures
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Investment income (loss) 9,100$ 9,100$ 37,536$ 28,436$ Fines and forfeitures - 119,422 145,408 25,986 Total revenues 9,100 128,522 182,944 54,422 EXPENDITURES:

Current:

Public safety 1,154 120,575 24,880 95,695 Capital outlay - - 13,500 (13,500) Total expenditures 1,154 120,575 38,380 82,195

REVENUES OVER (UNDER)
EXPENDITURES 7,946 7,947 144,564 136,617 Net change in fund balances 7,946$ 7,947$ 144,564 136,617$ FUND BALANCES:

Beginning of year 732,880
End of year 877,444$
Budgeted Amounts
155
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Bureau of Justice Assistance Grant
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 85,046$ 109,260$ 55,935$ (53,325)$ Investment income (loss) - - 695 695 Total revenues 85,046 109,260 56,630 (52,630) EXPENDITURES:

Current:

General government 85,046 109,260 - 109,260 Public safety - - 22,451 (22,451) Capital outlay - - 56,402 (56,402) Total expenditures 85,046 109,260 78,853 30,407

REVENUES OVER (UNDER)
EXPENDITURES - - (22,223) (22,223) Net change in fund balances -$ -$ (22,223) (22,223)$ FUND BALANCES:

Beginning of year 28,489
End of year 6,266$
Budgeted Amounts
156
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual COPS Program State AB 3229 Grant
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 135,955$ 403,267$ 267,635$ (135,632)$ Investment income (loss) 5,000 5,000 24,708 19,708 Total revenues 140,955 408,267 292,343 (115,924) EXPENDITURES:

Current:

General government 365,305 497,700 - 497,700 Public safety - 144,810 156,166 (11,356) Debt service:

Principal - - 11,192 (11,192) Interest and fiscal charges - - 608 (608) Total expenditures 365,305 642,510 156,166 486,344

REVENUES OVER (UNDER)
EXPENDITURES (224,350) (234,243) 136,177 370,420 Net change in fund balances (224,350)$ (234,243)$ 136,177 370,420$ FUND BALANCES:

Beginning of year 451,605
End of year 587,782$
Budgeted Amounts
157
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Environmental Mitigation
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Investment income (loss) 38,000$ 38,000$ 49,055$ 11,055$ Total revenues 38,000 38,000 49,055 11,055 Net change in fund balances 38,000$ 38,000$ 49,055 11,055$ FUND BALANCES:

Beginning of year 999,217
End of year 1,048,272$
Budgeted Amounts
158
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Cal Home
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Investment income (loss) 3,000$ 3,000$ 6,606$ 3,606$ Other revenues 86,400 86,400 36,805 (49,595) Total revenues 89,400 689,400 43,411 (645,989) EXPENDITURES:

Current:

Community development 80,000 680,000 110,600 569,400 Total expenditures 80,000 680,000 110,600 569,400

REVENUES OVER (UNDER)
EXPENDITURES 9,400 9,400 (67,189) (76,589) Net change in fund balances 9,400$ 9,400$ (67,189) (76,589)$ FUND BALANCES:

Beginning of year 145,789
End of year 78,600$
Budgeted Amounts
159
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Highway Safety Improvement
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Investment income (loss) 200$ 200$ 805$ 605$ Total revenues 200 200 805 605 Net change in fund balances 200$ 200$ 805 605$ FUND BALANCES:

Beginning of year 33,376
End of year 34,181$
Budgeted Amounts
160
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual RMRA
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Intergovernmental 2,274,212$ 2,274,212$ 2,403,498$ 129,286$ Investment income (loss) 24,000 24,000 90,835 66,835 Total revenues 2,298,212 2,298,212 2,494,333 196,121 EXPENDITURES:

Current:

Public works 3,387,475 3,387,475 495,778 2,891,697 Capital outlay 156,146 156,146 1,827,824 (1,671,678) Total expenditures 3,575,769 3,575,769 2,323,602 1,252,167

REVENUES OVER (UNDER)
EXPENDITURES (1,277,557) (1,277,557) 170,731 1,448,288 Net change in fund balances (1,277,557)$ (1,277,557)$ 170,731 1,448,288$ FUND BALANCES:

Beginning of year 1,657,798
End of year 1,828,529$
Budgeted Amounts
161
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Assessment District Fund
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Charges for services 661,773$ 661,773$ 687,356$ 25,583$ Total revenues 661,773 661,773 687,356 25,583 EXPENDITURES:

Current:

Public works 1,143,348 1,377,780 1,348,844 28,936 Total expenditures 1,143,348 1,377,780 1,348,844 28,936

REVENUES OVER (UNDER)
EXPENDITURES (481,575) (716,007) (661,488) 54,519 OTHER FINANCING SOURCES (USES):

Transfers in 481,575 481,575 661,488 179,913 Total other financing sources (uses) 481,575 481,575 661,488 179,913 Net change in fund balances -$ (234,432)$ - 234,432$ FUND BALANCES:

Beginning of year -
End of year -$
Budgeted Amounts
162
City of Chino
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Measure I Valley SubArea Program
For the year ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:

Other revenues 8,442,308$ 10,099,845$ -$ (10,099,845)$ Total revenues 8,442,308 10,099,845 - (10,099,845) EXPENDITURES:

Capital outlay 1,856,114 3,513,651 99,876 3,413,775 Total expenditures 9,056,114 10,713,651 99,876 10,613,775

REVENUES OVER (UNDER)
EXPENDITURES (613,806) (613,806) (99,876) 513,930 Net change in fund balances (613,806)$ (613,806)$ (99,876) 513,930$ FUND BALANCES:

Beginning of year (1,585,791)
End of year (1,685,667)$
Budgeted Amounts
163
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164
City of Chino
Internal Service Funds
June 30, 2024
Internal Service Funds are used to account for the financing of special activities and services provided by one department of a government to another. Internal Service Funds include the following:

Employee Benefits Fund
Used to account for retirement, medical/dental. long-term disability, life insurance, workers' compensation, and related employee benefit costs.

Building Management Fund
Used to account for building maintenance costs on a cost-reimbursement basis.

Liability Insurance Fund
Used to account for liability claims, premiums, and administrative costs and to maintain a sinking fund for future claims.

Central Services Fund
Used to account for the maintenance and replacement costs of data processing and general office equipment on a cost- reimbursement basis.

Equipment Management Fund
Used to account for the maintenance and replacement of City vehicles and equipment. 165
City of Chino
Combining Statement of Net Position
Internal Service Funds
June 30, 2024
Employee
Benefits
Building
Management
Liability
Insurance
Central
Services
Equipment
Management Totals
ASSETS
Current Assets:

Cash and investments 9,805,110$ 3,096,153$ 2,115,672$ 1,798,819$ 11,688,576$ 28,504,330$ Accounts receivable 1,319 2,350 3,917 - 138,511 146,097 Inventories - - - - 24,783 24,783 Total current assets 9,806,429 3,098,503 2,119,589 1,798,819 11,851,870 28,675,210 Noncurrent:

Capital assets:

Nondepreciable capital assets - 4,942,707 - 9,000 - 4,951,707 Depreciable capital assets - 4,819,601 11,859 7,116,091 20,959,365 32,906,916 Accumulated depreciation - (632,768) (4,235) (4,559,160) (16,181,379) (21,377,542) Net capital assets - 9,129,540 7,624 2,565,931 4,777,986 16,481,081 Total noncurrent assets - 9,129,540 7,624 2,565,931 4,777,986 16,481,081 Total assets 9,806,429 12,228,043 2,127,213 4,364,750 16,629,856 45,156,291

DEFERRED OUTFLOWS OF RESOURCES
Pension related 468,817 625,089 312,544 625,089 625,089 2,656,628 OPEB related 62,784 83,711 41,856 83,711 83,711 355,773 Total deferred outflows of resources 531,601 708,800 354,400 708,800 708,800 3,012,401

LIABILITIES
Current liabilities:

Accounts payable 67,078 275,461 263,018 203,499 498,079 1,307,135 Retentions payable - 77,145 - - - 77,145 Interest payable - - - 3,906 - 3,906 Accrued benefits payable 2,036,108 - - - - 2,036,108 Due to other governments 1,181 - - - - 1,181 Unearned revenue - - 548 - 82,335 82,883 Estimated claims payable - current - - 1,650,000 - - 1,650,000 Compensated absences - current 26,244 43,430 21,071 47,517 20,960 159,222 Long-term debt - current portion - - - 63,217 - 63,217 Total current liabilities 2,130,611 396,036 1,934,637 318,139 601,374 5,380,797 Noncurrent liabilities:

Estimated claims payable - - 5,496,659 - - 5,496,659 Total pension liability 892,844 1,190,459 595,229 1,190,459 1,190,459 5,059,450 Compensated absences 78,730 130,291 63,215 142,550 62,881 477,667 Total OPEB liability 420,897 561,196 280,598 561,196 561,196 2,385,083 Long-term debt - - - 116,662 - 116,662 Total noncurrent liabilities 1,392,471 1,881,946 6,435,701 2,010,867 1,814,536 13,535,521 Total liabilities 3,523,082 2,277,982 8,370,338 2,329,006 2,415,910 18,916,318

DEFERRED INFLOWS OF RESOURCES
Pension related 11,293 15,058 7,529 15,058 15,058 63,996 OPEB related 318,541 424,721 212,361 424,721 424,721 1,805,065 Total deferred inflows of resources 329,834 439,779 219,890 439,779 439,779 1,869,061

NET POSITION
Net investment in capital assets - 9,052,395 7,624 2,386,052 4,777,986 16,224,057 Unrestricted 6,485,114 1,166,687 (6,116,239) (81,287) 9,704,981 11,159,256 Total net position 6,485,114$ 10,219,082$ (6,108,615)$ 2,304,765$ 14,482,967$ 27,383,313$ 166
City of Chino
Combining Statement of Revenues, Expenses and Changes in Net Position Internal Service Funds
For the year ended June 30, 2024
Employee
Benefits
Building
Management
Liability
Insurance
Central
Services
Equipment
Management Totals
OPERATING REVENUES:

Charges for services 30,098,042$ 6,803,430$ 5,193,061 $ 4,509,972$ 7,189,424$ 53,793,929$ Other operating 64 4,202 - 694 135,757 140,717 Total operating revenues 30,098,106 6,807,632 5,193,061 4,510,666 7,325,181 53,934,646 OPERATING EXPENSES:

Salaries, wages and benefits 24,244,319 2,166,959 1,162,343 1,691,056 1,575,658 30,840,335 Maintenance and operation 1,063,701 529,841 1,169,989 953,725 2,283,779 6,001,035 Contractual services 317,923 1,549,879 261,210 44,169 521,526 2,694,707 Materials and supplies 23,397 549,679 13,099 432,683 - 1,018,858 Utilities - 1,384,252 - 394,685 - 1,778,937 Insurance, claims, and charges - - 2,396,911 - - 2,396,911 Depreciation & amortization - 135,356 1,694 751,672 1,475,229 2,363,951 Total operating expenses 25,649,340 6,315,966 5,005,246 4,267,990 5,856,491 47,095,033 Operating income (loss) 4,448,766 491,666 187,815 242,676 1,468,690 6,839,613 NONOPERATING REVENUES (EXPENSES):

Interest expense - - - (4,508) - (4,508) Total nonoperating revenues (expenses) - - - (4,508) - (4,508) Income before contributions and transfers 4,448,766 491,666 187,815 238,168 1,468,690 6,835,105 CONTRIBUTIONS AND TRANSFERS:

Transfers in - 540,820 - - 319,716 860,536 Transfers out - (2,857,820) - - - (2,857,820) Total contributions and transfers - (2,317,000) - - 319,716 (1,997,284) Change in net position 4,448,766 (1,825,334) 187,815 238,168 1,788,406 4,837,821 NET POSITION:

Beginning of year, as previously presented (38,421,524) 12,044,416 (6,296,430) 2,066,597 12,694,561 (17,912,380) Restatement - Prior Period Adjustments 40,457,872 - - - - 40,457,872 Beginning of year, as restated 2,036,348 12,044,416 (6,296,430) 2,066,597 12,694,561 22,545,492 End of year 6,485,114$ 10,219,082$ (6,108,615)$ 2,304,765$ 14,482,967$ 27,383,313$ 167
City of Chino
Combining Statement of Cash Flows
Internal Service Funds
For the year ended June 30, 2024
Employee
Benefits
Building
Management
Liability
Insurance
Central
Services
Equipment
Management Totals
CASH FLOWS FROM OPERATING ACTIVITIES:

Receipts from interfund services provided 30,098,042$ 6,803,430$ 5,193,061$ 4,509,972$ 7,189,424$ 53,793,929$ Other operating receipts 64 4,202 - 694 135,757 140,717 Payments to suppliers (185,140) (4,082,314) (3,721,441) (1,904,804) (3,270,383) (13,164,082) Payments to employees and employee benefits (24,043,778) (1,903,642) (1,878,202) (1,399,498) (1,306,967) (30,532,087) Net cash provided by (used in)
operating activities 5,869,188 821,676 (406,582) 1,206,364 2,747,831 10,238,477

CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:

Transfers from other funds - 540,820 - - 319,716 860,536 Transfers to other funds - (2,857,820) - - - (2,857,820) Payment on note payable (12,160,760) - - - - (12,160,760) Net cash provided by (used in)
noncapital financing activities (12,160,760) (2,317,000) - - 319,716 (14,158,044)

CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:

Payments for capital assets - (1,989,401) - (527,175) (2,149,116) (4,665,692) Proceeds from settlement - - - (78,482) - (78,482) Interest paid - - - (1,031) - (1,031) Net cash provided by (used in)
capital and related financing activities - (1,989,401) - (606,688) (2,149,116) (4,745,205) Net cash flows (6,291,572) (3,484,725) (406,582) 599,676 918,431 (8,664,772)$ CASH AND INVESTMENTS - Beginning of year, as restated 16,096,682 6,580,878 2,522,254 1,199,143 10,770,145 37,169,102 CASH AND INVESTMENTS - End of year 9,805,110$ 3,096,153$ 2,115,672 $ 1,798,819$ 11,688,576$ 28,504,330$

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:

Operating income (loss) 4,448,766$ 491,666$ 187,815$ 242,676$ 1,468,690$ 6,839,613$ Adjustments to reconcile operating income (loss) to
net cash provided by (used in) operating activities:

Depreciation & amortization - 135,356 1,694 751,672 1,475,229 2,363,951 (Increase) decrease in:

Accounts receivable (455) (255) (3,369) 3,060 (87,201) (88,220) Inventories - - - - 102 102 Deferred outflows - pensions 120,950 161,266 80,634 161,266 161,266 685,382 Deferred outflows - OPEB 7,746 10,330 5,165 10,330 10,330 43,901 Increase (decrease) in:

Accounts payable and accrued liabilities 1,226,090 (138,812) 123,137 (22,927) (389,013) 798,475 Retainage payable - 70,404 - (59,675) - 10,729 Due to other governments (5,754) - - - (38,990) (44,744) Unearned revenues - - - - 50,323 50,323 Total pension liability (asset) 63,609 84,812 42,405 84,812 84,812 360,450 Total OPEB liability (85,342) (113,789) (56,895) (113,789) (113,789) (483,604) Deferred inflows - pensions 1,817 2,423 1,211 2,423 2,423 10,297 Deferred inflows - OPEB 79,712 106,283 53,142 106,283 106,283 451,703 Estimated claims liabilities - - (855,413) - - (855,413) Compensated absences 12,049 11,992 13,892 40,233 17,366 95,532 Net cash provided by (used in) operating activities 5,869,188$ 821,676$ (406,582)$ 1,206,364$ 2,747,831$ 10,238,477$ 168
City of Chino
Custodial Funds
June 30, 2024
Custodial Funds are used to account for assets held by the City as an agent for individuals, private organizations, other governments, and/or funds. Custodial Funds include the following:

The following Community Facilities District Funds are used to account for the collection of assessments from owners of property with the respective District and for the remittance of such assessments to the bondholders as required by the Mello-Roos Community Facilities Act of 1982.

Community Facilities District No. 99-1 R Fund
Community Facilities District No. 00-1 Fund
Community Facilities District No. 01-1 Fund
Community Facilities District No. 03-1 Fund
Community Facilities District No. 03-2 Fund
Community Facilities District No. 03-3 Fund
Community Facilities District No. 03-4 Fund
Community Facilities District No. 05-1 Fund
Community Facilities District No. 05-2 Fund
Community Facilities District No. 06-2 Fund
Community Facilities District No. 09-1 Fund
Community Facilities District No. 06-1 Fund
Community Facilities District No. 06-3 Fund
Community Facilities District No. 16-1 Fund
Community Facilities District No. 16-2 Fund
Community Facilities District No. 19-1 Fund
Community Facilities District No. 2021 Appeseteche Fund 169
City of Chino
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2024
Community
Facilities District
No. 99-1R
Community
Facilities District
No. 00-1
Community
Facilities District
No. 01-1
Community
Facilities District
No. 03-1
ASSETS
Cash and investments 512,224$ 138,621$ 203,965$ 542,314$ Cash and investments with fiscal agents 10 14 3,794,941 11 Taxes receivable - - - 3,719 Interest receivable 2,314 627 16,279 2,452 Due from other funds - - - 486,522 Total assets 514,548 139,262 4,015,185 1,035,018

LIABILITIES

Due to other funds - - 3,735,483 - Total liabilities - - 3,735,483 -

NET POSITION
Restricted for:

Individuals, organizations, and other governments 514,548 139,262 279,702 1,035,018 Total Net Position 514,548$ 139,262$ 279,702$ 1,035,018$ 170
Community
Facilities District
No. 03-2
Community
Facilities District
No. 03-3
Community
Facilities District
No. 03-4
Community
Facilities District
No. 05-1
Community
Facilities District
No. 05-2
Community
Facilities District
No. 06-2
505,388$ 8,679,922$ 411,966$ 2,289,655$ 396,475$ 590,610$ 63 8,292,253 10 532,477 16 25 913 76,402 - 54,526 1,254 1,346 2,282 69,511 1,864 12,629 1,792 2,669 448,020 1,527,570 403,581 - - - 956,666 18,645,658 817,421 2,889,287 399,537 594,650 - - - - - - - - - - - - 956,666 18,645,658 817,421 2,889,287 399,537 594,650 956,666$ 18,645,658$ 817,421$ 2,889,287$ 399,537$ 594,650$ 171
City of Chino
Combining Statement of Fiduciary Net Position (Continued) Custodial Funds
June 30, 2024
Community
Facilities District
No. 09-1
Community
Facilities District
No. 06-1
Community
Facilities District
No. 06-3
Community
Facilities District
No. 16-1
ASSETS
Cash and investments 859,773$ 243,695$ 316,984$ 450,671$ Cash and investments with fiscal agents 30 760,756 528,213 533,473 Taxes receivable - 1,890 1,955 1,396 Interest receivable 3,886 4,359 3,573 4,195 Due from other funds 869,790 - - - Total assets 1,733,479 1,010,700 850,725 989,735

LIABILITIES

Due to other funds - - - - Total liabilities - - - -

NET POSITION
Restricted for:

Individuals, organizations, and other governments 1,733,479 1,010,700 850,725 989,735 Total Net Position 1,733,479$ 1,010,700$ 850,725$ 989,735$ 172
Community
Facilities District
No. 16-2
Community
Facilities District
No. 19-1
Community
Facilities District
2021
Appeseteche
Total
Custodial
Funds
430,102$ 484,281$ 432,574$ 17,489,220$ 493,748 599,612 491,768 16,027,420 6,737 - 8,201 158,339 4,058 4,617 4,084 141,191 - - - 3,735,483 934,645 1,088,510 936,627 37,551,653 - - - 3,735,483 - - - 3,735,483 934,645 1,088,510 936,627 33,816,170 934,645$ 1,088,510$ 936,627$ 33,816,170$ 173
City of Chino
Combining Statement of Changes in Fiduciary Net Position Custodial Funds
For the year ended June 30, 2024
Community
Facilities District
No. 99-1R
Community
Facilities District
No. 00-1
Community
Facilities District
No. 01-1
Community
Facilities District
No. 03-1
ADDITIONS:

Taxes 462,552$ 116,685$ 182,589$ 466,300$ Investment income (loss) 33,832 9,321 26,386 38,832 Receipt of reserve funding - - - - Total additions 496,384 126,006 208,975 505,132 DEDUCTIONS:

Administrative costs 5,139 4,023 5,186 10,671 Payment of special tax debt 473,444 120,006 176,852 455,155 Interest expense - - - - Total deductions 478,583 124,029 182,038 465,826 Change in net position 17,801 1,977 26,937 39,306 NET POSITION:

Beginning of year 496,747 137,285 252,765 995,712 Beginning of year 496,747 137,285 252,765 995,712 End of year 514,548$ 139,262$ 279,702$ 1,035,018$ 174
Community
Facilities District
No. 03-2
Community
Facilities District
No. 03-3
Community
Facilities District
No. 03-4
Community
Facilities District
No. 05-1
Community
Facilities District
No. 05-2
Community
Facilities District
No. 06-2
418,445$ 11,416,339$ 370,665$ 2,354,700$ 491,726$ 545,569$ 36,181 680,000 30,090 141,516 12,799 22,328 - 1,741,881 - - - - 454,626 13,838,220 400,755 2,496,216 504,525 567,897 11,405 2,582,357 5,247 1,920,302 104,868 13,950 417,308 8,939,890 369,261 1,866,706 343,375 548,375 - - - - - - 428,713 11,522,247 374,508 3,787,008 448,243 562,325 25,913 2,315,973 26,247 (1,290,792) 56,282 5,572 930,753 16,329,685 791,174 4,180,079 343,255 589,078 930,753 16,329,685 791,174 4,180,079 343,255 589,078 956,666$ 18,645,658$ 817,421$ 2,889,287$ 399,537$ 594,650$ 175
City of Chino
Combining Statement of Changes in Fiduciary Net Position (Continued) Custodial Funds
For the year ended June 30, 2024
Community
Facilities District
No. 09-1
Community
Facilities District
No. 06-1
Community
Facilities District
No. 06-3
Community
Facilities District
No. 16-1
ADDITIONS:

Taxes 830,780$ 263,901$ 331,126$ 535,216$ Investment income (loss) 73,024 26,549 37,095 38,731 Receipt of reserve funding - - - - Total additions 903,804 290,450 368,221 573,947 DEDUCTIONS:

Administrative costs 5,165 9,046 9,869 8,534 Payment of special tax debt 829,015 268,806 321,756 517,944 Interest expense - - - - Total deductions 834,180 277,852 331,625 526,478 Change in net position 69,624 12,598 36,596 47,469 NET POSITION:

Beginning of year 1,663,855 998,102 814,129 942,266 Beginning of year 1,663,855 998,102 814,129 942,266 End of year 1,733,479$ 1,010,700$ 850,725$ 989,735$ 176
Community
Facilities District
No. 16-2
Community
Facilities District
No. 19-1
Community
Facilities District
2021
Appeseteche
Total
Custodial
Funds
489,672$ 602,731$ 551,884$ 20,430,880$ 40,735 45,382 1,720 1,294,521 - - 760,456 2,502,337 530,407 648,113 1,314,060 24,227,738 10,069 10,091 266,831 4,982,753 477,725 585,600 - 16,711,218 - - 110,602 110,602 487,794 595,691 377,433 21,804,573 42,613 52,422 936,627 2,423,165 892,032 1,036,088 - 31,393,005 892,032 1,036,088 - 31,393,005 934,645$ 1,088,510$ 936,627$ 33,816,170$ 177
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STATISTICAL SECTION
(Unaudited)
179
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Page
Number
182 - 191
192 - 200
201 - 203
204 - 205
206 - 210
Operating Information – These schedules contain service and infrastructure data to help the reader understand how the information in the City’s financial report relates to the services the City provides and the activities it performs.

CITY OF CHINO, CALIFORNIA
YEAR ENDED JUNE 30, 2024
This part of the City of Chino's Annual Comprehensive Financial Report represents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information say about the goverment's overall fianancial health.

DESCRIPTION OF STATISTICAL SECTION
Financial Trends - These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time.

Revenue Capacity – These schedules contain information to help the reader assess the City’s most significant local revenue sources, the property, and sales tax.

Debt Capacity – These schedules present information to help the reader assess the affordability of the City’s current levels of outstanding debt and the City’s ability to issue additional debt in the future.

Demographic and Economic Information – These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place.
181
City of Chino
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
2015 2016 2017 2018
Governmental Activities
Net investment in capital assets 206,420,772$ 218,415,150$ 219,047,841$ 235,577,649$ Restricted 71,129,649 74,880,586 83,508,238 97,534,131 Unrestricted 19,721,066 32,425,988 359,260 (8,061,553) Total governmental activities net position 297,271,487 325,721,724 302,915,339 325,050,227 Business-type Activities
Net investment in capital assets 99,352,711 104,222,899 118,323,407 139,197,552 Restricted 413,767 413,733 414,827 418,485 Unrestricted 38,913,801 38,090,412 46,778,706 43,659,580 Total business-type activities net position 138,680,279 142,727,044 165,516,940 183,275,617 Primary Government
Net investment in capital assets 305,773,483 322,638,049 337,371,248 374,775,201 Restricted 71,543,416 75,294,319 83,923,065 97,952,616 Unrestricted 58,634,867 70,516,400 47,137,966 35,598,027 Total primary government net position 435,951,766$ 468,448,768$ 468,432,279$ 508,325,844$ Fiscal Year Ended June 30,
Source: City Finance Department.
182
2019 2020 2021 2022 2023 2024
244,097,355$ 251,859,578$ 292,763,448$ 305,520,331$ 318,251,624$ 331,103,402$ 97,392,783 154,995,197 133,429,854 157,014,937 148,245,149 143,497,849 978,164 (7,176,117) (3,153,425) 25,144,722 21,301,215 19,128,260 342,468,302 399,678,658 423,039,877 487,679,990 487,797,988 493,729,511 156,310,930 164,986,220 176,235,002 205,297,093 219,533,318 232,324,032 257 14,915,176 12,541,458 2,801,907 - - 42,353,571 31,321,147 36,833,053 42,904,839 65,178,855 69,473,449 198,664,758 211,222,543 225,609,513 251,003,839 284,712,173 301,797,481 400,408,285 416,845,798 468,998,450 510,817,424 537,784,942 563,427,434 97,393,040 169,910,373 145,971,312 159,816,844 148,245,149 143,497,849 43,331,735 24,145,030 33,679,628 68,049,561 86,480,070 88,601,709 541,133,060$ 610,901,201$ 648,649,390$ 738,683,829$ 772,510,161$ 795,526,992$ Fiscal Year Ended June 30,
183
City of Chino
Changes in Net Position - Expenses and Program Revenues Last Ten Fiscal Years
(accrual basis of accounting)
2015 2016 2017 2018
Expenses:

Governmental Activities:

General government 5,207,951$ 3,553,023$ 5,387,341$ 6,717,595$ Public safety 35,264,627 42,077,998 43,559,043 50,469,203 Public works 12,247,298 26,434,835 17,072,811 18,606,078 Community services 9,443,879 8,672,522 8,473,810 10,067,346 Parks and community services 7,704,946 5,861,187 7,359,074 8,720,548 Interest on long term debt 6,280 - - - Unallocated infrastructure depreciation 2,912,331 3,052,664 3,354,253 4,214,911 Total governmental activities net expenses 72,787,312 89,652,229 85,206,332 98,795,681 Business-type Activities:

Sanitation 13,768,530 15,033,922 15,512,301 12,572,481 Water 23,294,026 26,914,109 24,323,471 33,382,823 Storm drain 3,594,762 5,465,333 7,742,279 11,889,295 Sewer 9,369,869 10,959,933 10,136,966 13,079,878 Sewer lift station - - - - Total business-type activities net expenses 50,027,187 58,373,297 57,715,017 70,924,477 Total primary government expenses 122,814,499$ 148,025,526$ 142,921,349$ 169,720,158$ Program Revenues:

Governmental Activities:

Charges for services:

General government 3,800,921$ 1,555,185$ 1,156,338$ 1,405,005$ Public safety 1,279,758 1,224,825 1,301,196 1,354,512 Public works 6,587,985 3,710,912 12,235,610 11,071,558 Community services 4,989,369 3,722,250 4,731,145 9,919,428 Parks and community services 2,327,048 1,544,463 1,734,527 3,251,712 Operating grants and contributions 7,161,448 7,739,729 4,458,417 4,346,842 Capital grants and contributions 12,562,089 45,581,973 11,130,391 17,634,298 Total governmental activities program revenues 38,708,618 65,079,337 36,747,624 48,983,355 Business-type Activities:

Charges for services:

Sanitation 13,482,811 14,349,817 15,817,321 11,899,685 Water 27,296,544 23,029,926 32,878,446 28,512,153 Storm drain 4,126,620 4,125,661 4,284,548 4,473,751 Sewer 8,567,489 9,313,853 10,984,114 12,304,267 Sewer lift station - - - 2,883 Operating grants and contributions 139,514 86,410 145,776 681,097 Capital grants and contributions 1,257,245 9,304,347 15,205,244 27,726,731 Total business-type activities program revenues 54,870,223 60,210,014 79,315,449 85,600,567 Primary government program revenues 93,578,841$ 125,289,351$ 116,063,073$ 134,583,922$ Net Revenue/(Expense):

Governmental activities (34,078,694)$ (24,572,892)$ (48,458,708)$ (49,812,326)$ Business-type activities 4,843,036 1,836,717 21,600,432 14,676,090 Total primary government net revenue/(expense) (29,235,658)$ (22,736,175)$ (26,858,276)$ (35,136,236)$ Fiscal Year Ended June 30,
Source: City Finance Department.
184
2019 2020 2021 2022 2023 2024
5,778,928$ 5,007,260$ 13,539,605$ 4,993,410$ 6,413,018$ 11,381,030$ 47,643,494 56,343,219 62,232,550 37,139,945 79,818,455 71,318,394 17,185,217 16,055,597 33,899,018 25,246,344 29,698,027 35,836,997 12,335,106 12,651,827 14,903,012 15,989,569 16,806,972 18,440,885 15,458,112 8,634,743 10,002,516 9,262,473 13,224,458 16,572,109 - - - - 15,384 27,693 4,245,950 4,238,504 4,309,299 4,503,263 4,886,303 5,205,455 102,646,807 102,931,150 138,886,000 97,135,004 150,862,617 158,782,563 8,083,523 7,800,758 8,158,331 8,043,471 8,710,120 10,517,440 32,227,071 32,489,454 28,801,435 28,005,594 29,898,562 32,955,908 6,782,930 4,641,873 15,739,194 5,501,783 7,509,228 6,954,504 15,472,239 15,170,656 18,710,393 13,509,227 14,281,790 15,421,258 76,813 97,067 114,582 119,456 68,289 215,948 62,642,576 60,199,808 71,523,935 55,179,531 60,467,989 66,065,058 165,289,383$ 163,130,958$ 210,409,935$ 152,314,535$ 211,330,606$ 224,847,621$ 2,641,122$ 2,729,553$ 2,851,226$ 2,822,139$ 2,494,135$ 1,393,015$ 1,547,708 1,379,747 1,483,627 1,932,173 2,046,880 2,863,957 1,985,259 14,999,906 7,318,424 17,187,046 7,284,960 11,257,084 6,056,500 9,186,913 9,706,453 10,316,586 3,509,650 5,167,328 3,798,909 4,907,808 2,308,698 1,906,634 3,810,862 3,996,904 5,049,254 4,725,244 15,454,465 18,263,216 10,882,221 9,424,985 32,729,119 42,848,794 50,904,565 35,994,131 41,824,159 39,091,175 53,807,871 80,777,965 90,027,458 88,421,925 71,852,867 73,194,448 6,635,793 7,071,723 7,517,157 8,040,307 8,588,428 10,284,049 26,852,557 27,748,691 30,950,675 33,458,776 46,431,562 30,781,392 4,431,273 4,476,494 4,609,858 4,685,604 4,681,294 4,792,595 12,404,834 13,211,761 13,365,952 14,428,625 15,042,884 17,340,180 82,807 97,149 175,367 195,025 222,911 247,933 664,091 3,888,644 654,443 1,195,299 620,644 996,898 16,847,133 14,337,124 1,409,905 11,306,800 4,712,833 9,578,321 67,918,488 70,831,586 58,683,357 73,310,436 80,300,556 74,021,368 121,726,359$ 151,609,551$ 148,710,815$ 161,732,361$ 152,153,423$ 147,215,816$ (48,838,936)$ (22,153,185)$ (48,858,542)$ (8,713,079)$ (79,009,750)$ (85,588,115)$ 5,275,912 10,631,778 (12,840,578) 18,130,905 19,832,567 7,956,310 (43,563,024)$ (11,521,407)$ (61,699,120)$ 9,417,826$ (59,177,183)$ (77,631,805)$ Fiscal Year Ended June 30,
185
City of Chino
Changes in Net Position - General Revenues
Last Ten Fiscal Years
(accrual basis of accounting)
2015 2016 2017 2018
General Revenues and Other Changes
in Net Position:

Governmental Activities:

Sales taxes 22,065,780$ 22,620,572$ 24,483,357$ 25,698,683$ Property taxes, levied for general purposes 18,418,659 19,302,137 20,698,055 22,733,618 Business license taxes 1,997,447 2,781,218 1,015,299 1,017,187 Franchise 971,855 982,924 2,828,462 3,012,096 Other taxes 2,455,410 2,856,304 3,205,904 4,482,223 Revenues not restricted to specific programs 7,916,721 4,774,463 5,149,545 5,549,535 Investment earnings 451,966 689,428 157,658 706,004 Gain on sale of capital assets - 796,730 - - Transfers (5,616,966) (1,787,702) (1,990,035) (5,952,232) Total governmental activities 48,660,872 53,016,074 55,548,245 57,247,114 Business-type Activities:

Revenues not restricted to specific programs - 54,093 31,235 (142,764) Investment earnings 184,697 360,853 233,992 338,322 Transfers 5,616,966 1,787,702 1,990,035 5,952,232 Total business-type activities 5,801,663 2,202,648 2,255,262 6,147,790 Total primary government 54,462,535$ 55,218,722$ 57,803,507$ 63,394,904$ Change in Net Position:

Governmental activities 14,582,178$ 28,443,182$ 7,089,537$ 7,434,788$ Business-type activities 10,644,699 4,039,365 23,855,694 20,823,880 Total primary government 25,226,877$ 32,482,547$ 30,945,231$ 28,258,668$ Fiscal Year Ended June 30,
Source: City Finance Department.
186
2019 2020 2021 2022 2023 2024
30,148,521$ 25,374,164$ 35,462,800$ 35,643,318$ 35,598,984$ 36,013,142$ 25,058,493 27,018,711 28,430,309 30,267,853 32,506,697 38,163,470 1,099,960 1,020,780 1,069,936 1,049,116 982,429 1,209,873 2,984,951 3,083,920 3,339,653 3,522,402 3,844,908 4,047,526 3,933,637 4,681,031 4,807,152 5,251,798 5,803,268 5,860,818 5,242,294 4,800,984 5,248,186 4,389,779 4,406,525 5,465,933 1,507,903 945,160 (758,829) (4,478,594) 2,667,031 6,246,444 - - - - - - (3,718,748) (790,645) (4,270,886) (2,292,480) (6,682,094) (3,351,398) 66,257,011 66,134,105 73,328,321 73,353,192 79,127,748 93,655,808 201,770 141,927 22,744,601 5,964,513 6,352,343 162,237 1,431,413 993,435 212,061 (993,572) 841,330 3,479,192 3,718,748 790,645 4,270,886 2,292,480 6,682,094 3,351,398 5,351,931 1,926,007 27,227,548 7,263,421 13,875,767 6,992,827 71,608,942$ 68,060,112$ 100,555,869$ 80,616,613$ 93,003,515$ 100,648,635$ 17,418,075$ 43,980,920$ 24,469,779$ 64,640,113$ 117,998$ 8,067,694$ 10,627,843 12,557,785 14,386,970 25,394,326 33,708,334 14,949,137 28,045,918$ 56,538,705$ 38,856,749$ 90,034,439$ 33,826,332$ 23,016,831$ Fiscal Year Ended June 30,
187
City of Chino
Fund Balance of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
2015 2016 2017 2018
General Fund:

Nonspendable 1,577,706$ 1,568,284$ 4,604,112$ 73,398,134$ Restricted 12,947 13,045 - - Assigned 1,187,772 1,285,175 - - Unassigned 43,373,447 40,067,630 43,048,027 (17,564,262) Total general fund 46,151,872$ 42,934,134$ 47,652,139$ 55,833,872$ All Other Governmental Funds:

Nonspendable 215,217$ 215,217$ 20,050$ -$ Restricted 54,488,302 57,822,925 68,469,140 80,907,340 Committed 8,090,898 8,891,649 12,461,762 13,868,918 Assigned 8,481,256 8,582,481 - - Unassigned (182,743) (239,086) (703,388) (410,626) Total all other governmental funds 71,092,930$ 75,273,186$ 80,247,564$ 94,365,632$ Fiscal Year Ended June 30,
Source: City Finance Department.
188
2019 2020 2021 2022 2023 2024
71,343,300$ 68,125,296$ 62,222,865$ 58,840,496$ 55,377,764$ 2,305,413$ - - - - - - - - - - - - (9,959,177) (7,992,130) (2,076,117) 13,541,338 13,274,421 30,151,505 61,384,123$ 60,133,166$ 60,146,748$ 72,381,834$ 68,652,185$ 32,456,918$ -$ -$ 299$ 7,746$ 1,356$ 570$ 80,737,338 136,238,149 130,298,619 136,301,482 148,278,525 146,600,949 13,719,971 15,566,929 14,214,200 11,726,536 11,516,676 11,696,381 - - - - - - (95,000) (472,789) (1,072,361) (1,339,380) (2,071,339) (2,043,568) 94,362,309$ 151,332,289$ 143,440,757$ 146,696,384$ 157,725,218$ 156,254,332$ Fiscal Year Ended June 30,
189
City of Chino
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
2015 2016 2017 2018
Revenues:

Taxes 51,429,387$ 53,325,427$ 56,190,756$ 61,266,808$ Licenses and permits 2,279,485 1,680,737 2,293,092 2,818,200 Intergovernmental 3,074,099 6,395,923 2,830,483 3,540,927 Charges for services 22,387,863 12,936,697 26,630,749 28,181,735 Investment income 994,047 1,625,992 645,971 1,484,177 Fines and forfeitures 798,632 741,556 1,144,431 710,670 Contribution from property owners 2,471,343 18,954,344 29,742 7,410,050 Other revenues 5,864,949 4,141,138 4,025,808 6,840,216 Total revenues 89,299,805 99,801,814 93,791,032 112,252,783 Expenditures:

General government 4,633,929 4,816,857 4,471,106 4,670,298 Public safety 36,195,241 41,360,346 43,132,233 46,024,584 Public works 10,961,108 11,445,695 12,976,827 12,877,786 Community development 9,358,569 10,362,121 8,156,596 9,407,330 Parks and community services 7,000,383 7,039,989 7,107,438 8,187,914 Capital outlay 6,170,281 21,716,003 8,538,219 2,477,586 Debt service:

Principal 242,000 - - - Interest and fiscal charges 6,280 - - - Total expenditures 74,567,791 96,741,011 84,382,419 83,645,498 Excess (deficiency) of revenues
over (under) expenditures 14,732,014 3,060,803 9,408,613 28,607,285 Other Financing Sources (Uses):

Transfers in 18,897,276 21,086,516 16,120,725 18,508,407 Transfers out (24,957,917) (25,907,518) (18,445,515) (24,815,891) Issuance of long-term debt - - - - Proceeds on disposition of capital assets 352,298 2,722,717 - - Total other financing sources (uses) (5,708,343) (2,098,285) (2,324,790) (6,307,484) Net change in fund balances 9,023,671 962,518 7,083,823 22,299,801 Fund balances - July 1, as restated 108,221,131 117,244,802 120,815,880 127,899,703 Fund balances - June 30 117,244,802$ 118,207,320$ 127,899,703$ 150,199,504$ Debt service as a percentage of noncapital expenditures 0.33% 0.00% 0.00% 0.00% Fiscal Year Ended June 30,
Source: City Finance Department.
190
2019 2020 2021 2022 2023 2024
67,672,647$ 65,799,099$ 75,777,103$ 76,765,107$ 79,316,982$ 86,583,907$ 1,395,371 2,352,084 2,315,483 3,616,111 1,736,309 2,064,392 4,069,460 3,144,924 12,295,404 20,883,437 14,479,183 14,747,794 15,552,261 33,168,631 22,906,791 36,016,114 17,108,583 23,692,593 5,894,013 4,935,733 1,047,633 (4,500,908) 7,136,740 11,535,707 827,907 730,645 1,098,330 1,115,041 1,511,372 1,514,151 20,976,869 27,901,312 9,985,253 22,303,581 29,938,501 24,137,287 7,495,945 9,005,324 11,098,163 5,527,906 4,914,963 5,308,690 123,884,473 147,037,752 136,524,160 161,726,389 156,142,633 169,584,521 4,255,560 5,279,578 7,422,683 5,506,624 6,426,010 8,504,100 48,476,584 49,688,761 53,153,271 55,191,109 58,879,707 65,272,511 13,494,392 17,831,644 17,004,330 20,513,442 22,415,301 21,892,839 11,315,660 11,634,439 13,737,037 17,335,767 16,780,323 18,332,686 11,991,450 8,271,801 7,337,354 8,484,823 9,682,273 11,300,977 24,836,957 8,012,403 37,712,219 34,466,088 26,813,403 37,555,221 - - - - 422,454 430,252 - - - - 5,813 13,931 114,370,603 100,718,626 136,366,894 141,497,853 141,425,284 163,302,517 9,513,870 46,319,126 157,266 20,228,536 14,717,349 6,282,004 20,294,400 23,974,212 32,474,078 33,598,984 37,304,878 43,208,496 (24,261,342) (25,365,672) (37,900,734) (38,336,807) (46,422,731) (44,562,610) - - - - 1,699,689 - - - - - - - (3,966,942) (1,391,460) (5,426,656) (4,737,823) (7,418,164) (1,354,114) 5,546,928 44,927,666 (5,269,390) 15,490,713 7,299,185 4,927,890 150,199,504 166,537,789 208,856,895 203,587,505 219,078,218 183,783,360 155,746,432$ 211,465,455$ 203,587,505$ 219,078,218$ 226,377,403$ 188,711,250$

0.00% 0.00% 0.00% 0.00% 0.35% 0.31%
Fiscal Year Ended June 30,
191
City of Chino
Assessed Value and
Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
Fiscal Secured Secured Taxable Total
Year Ended Common Public Unsecured Assessed Direct
June 30, Property Utility (1) Valuation Value (2) Tax Rate 2015 9,255,646,361 456,577 624,435,098 9,880,538,036 0.1080 2016 9,946,230,394 456,510 656,854,612 10,603,541,516 0.1080 2017 10,552,738,447 456,298 652,193,745 11,205,388,490 0.1080 2018 11,422,989,093 456,218 717,488,068 12,140,933,379 0.1080 2019 12,548,491,858 454,331 759,166,735 13,308,112,924 0.1080 2020 13,374,712,821 1,113,040 848,119,405 14,223,945,266 0.1080 2021 14,172,031,711 1,113,040 880,829,342 15,053,974,093 0.1080 2022 15,092,742,152 1,113,040 886,589,192 15,980,444,384 0.1080 2023 16,326,719,550 1,113,040 967,760,149 17,295,592,739 0.1080 2024 18,275,878,589 1,210,532 1,207,013,356 19,484,102,477 0.1080 (1) Chapter 921 (AB 454) breaks out Unitary values (except Railroads) from Public Utility. Unitary values are valued separately and billed at an average county-wide tax rate.
(2) City Assessed Valuation includes Redevelopment Agency Assessed Valuation City
In 1978 the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of the property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only reassessed at the time that it is sold to a new owner. At that point, the new assessed value is reassessed at the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.

Source: Auditor-Controller reports, County of San Bernardino, which assesses property and collects taxes. 192
City of Chino
Assessed Value and
Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
Fiscal Secured Secured Taxable Total
Year Ended Common Public Unsecured Assessed Direct
June 30, Property Utility Valuation Value (2) Tax Rate
2015 2,072,984,860 - 201,541,171 2,274,526,031 - 2016 2,317,253,572 - 233,700,938 2,550,954,510 - 2017 2,511,001,501 - 230,571,450 2,741,572,951 - 2018 2,763,965,409 - 297,222,745 3,061,188,154 - 2019 3,079,549,266 - 317,376,005 3,396,925,271 - 2020 3,189,333,324 - 394,965,720 3,584,299,044 - 2021 3,429,283,815 - 401,076,278 3,830,360,093 - 2022 3,555,221,652 - 380,330,569 3,935,552,221 - 2023 3,686,984,319 - 387,555,531 4,074,539,850 - 2024 3,900,814,591 - 470,733,767 4,371,548,358 - (1) Chapter 921 (AB 454) breaks out Unitary values (except Railroads) from Public Utility. Unitary values are valued separately and billed at an average county-wide tax rate.
(2) City Assessed Valuation includes Redevelopment Agency Assessed Valuation Redevelopment Agency
In 1978 the voters of the State of California passed Proposition 13 which limited property taxes to a total maximum rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of the property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With few exceptions, property is only reassessed at the time that it is sold to a new owner. At that point, the new assessed value is reassessed at the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.

Source: Auditor-Controller reports, County of San Bernardino, which assesses property and collects taxes. 193
City of Chino
Direct and Overlapping Property Tax Rates
Tax Code Area 1001
Last Ten Fiscal Years
2015 2016 2017 2018
City Direct Rates:

City Basic Rate 0.1080 0.1080 0.1080 0.1080
Redevelopment Agency 0.0000 0.0000 0.0000 0.0000
Total City Direct Rate 0.1080 0.1080 0.1080 0.1080
Overlapping Rates:

School Tax Rate 0.0440 0.0444 0.0499 0.1022
Metropolitan Water District 0.0035 0.0035 0.0035 0.0035 County Rates:

Chino Unified School District 0.3103 0.3103 0.3103 0.3103 Education Revenue Augmentation Fund 0.2244 0.2244 0.2244 0.2244 General County Fund 0.1482 0.1482 0.1482 0.1482
Chaffey Community College 0.0429 0.0429 0.0429 0.0429
Chino Valley Independent Fire District 0.0649 0.0649 0.0649 0.0649 Flood Control Zone 1 0.0261 0.0261 0.0261 0.0261
Chino Basin Municipal Water District 0.0460 0.0460 0.0460 0.0460 County Free Library 0.0143 0.0143 0.0143 0.0143
County Superintendent 0.0092 0.0092 0.0092 0.0092
Chino Basin Water Conservation District 0.0033 0.0033 0.0033 0.0033 Flood Control Administration 1 & 2 0.0018 0.0018 0.0018 0.0018 Inland Empire West Resource Conservation District 0.0006 0.0006 0.0006 0.0006 Total Direct Rate 1.0475 1.0479 1.0534 1.1057
In 1978, California voters passed Proposition 13 which sets the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, the property owners are charged taxes as a percentage of assessed property values for the payment of the Chino Unified School District bonds and Metropolitan Water District bonds.

Fiscal Year Ended June 30,
Source: Auditor-Controller reports, County of San Bernardino and the HdL Company 194
2019 2020 2021 2022 2023 2024

0.1080 0.1080 0.1080 0.1080 0.1080 0.1080

0.0000 0.0000 0.0000 0.0000 0.0000 0.0000

0.1080 0.1080 0.1080 0.1080 0.1080 0.1080

0.1002 0.1031 0.1008 0.1039 0.1037 0.0885

0.0035 0.0035 0.0035 0.0035 0.0035 0.0035

0.3103 0.3103 0.3103 0.3103 0.3103 0.3103

0.2244 0.2244 0.2244 0.2244 0.2244 0.2244

0.1482 0.1482 0.1482 0.1482 0.1482 0.1482

0.0429 0.0429 0.0429 0.0429 0.0429 0.0429

0.0648 0.0648 0.0648 0.0648 0.0648 0.0648

0.0261 0.0261 0.0261 0.0261 0.0261 0.0261

0.0460 0.0460 0.0460 0.0460 0.0460 0.0460

0.0143 0.0143 0.0143 0.0143 0.0143 0.0143

0.0092 0.0092 0.0092 0.0092 0.0092 0.0092

0.0033 0.0033 0.0033 0.0033 0.0033 0.0033

0.0019 0.0019 0.0019 0.0019 0.0019 0.0019

0.0006 0.0006 0.0006 0.0006 0.0006 0.0006

1.1037 1.1066 1.1043 1.1074 1.1072 1.0920
Fiscal Year Ended June 30,
195

Taxpayer
Taxable
Assessed
Values
Percent of Total
City Taxable
Assessed Values
Taxable
Assessed
Values
Percent of Total
City Taxable
Assessed Values*
Watson Land Company $ 753,957,457 3.84% $ 166,975,710 2.18% Majestic Realty Company 402,458,374 2.05% 243,495,878 3.18% Homecoming at The Preserve LLC 323,167,787 1.65% 73,473,353 0.96% Walmart/Sam's 258,548,826 1.32% - 0.00% Scannell Properties #404 188,192,181 0.96% - 0.00% John Hancock Life Insurance Company 181,517,680 0.93% 114,120,800 1.49% MLM Chino Property LLC 148,430,119 0.76% - 0.00% Spectrum South LLC 136,498,611 0.70% 115,847,429 1.51% Chino Kimball Industrial LLC 136,163,232 0.69% - 0.00% Chino Center Inc 129,340,125 0.66% 71,290,538 0.93% Vestar-Chino LLC - 0.00% 115,294,149 1.50% PK I Chino Town Square LP - 0.00% 80,437,332 1.05% Majestic-AMB South Chino LLC - 0.00% 79,234,039 1.03% SY Ventures LLC - 0.00% 77,920,806 1.02% Centerpointe Distribution Center LLC - 0.00% 71,450,192 0.93% Chino Holding Company LLC - 0.00% 67,942,928 0.89% PK 1 County Fair SC LP - 0.00% 46,886,735 0.61% LBA PPF Industrial Schaefer LLC - 0.00% 41,387,048 0.54% Carson Chino South LLC - 0.00% 38,094,118 0.50% Total 2,658,274,392$ 13.56% 1,403,851,055$ 18.32% Notes:

The amounts shown above include assessed value data for both the City and the Redevelopment Agency.

Zero values mean the Taxpayer was not in the Top 10 Property Taxpayers ranking in that particular year City of Chino
Principal Property Taxpayers
Current Year and Nine Years Ago
2024 2015
Source: San Bernardino County Assessor Secured and Unsecured Tax Rolls 196
City of Chino
Property Tax Levies and Tax Collections
Last Ten Fiscal Years
Fiscal
Year Taxes Levied Percent Collections in Supplemental Percent Ended for the of Subsequent Taxes of Levy
June 30, Fiscal Year Amount (2) Levy (3) Years Collected Amount (1) Collected 2015 CITY 8,381,515$ 8,495,491$ 101.4% 348,150$ 196,075$ 9,039,716$ 107.9% 2016 CITY 8,877,358 8,958,991 100.9% 347,199 134,307 9,440,497 106.3% 2017 CITY 9,324,103 9,517,987 102.1% 335,852 149,249 10,003,088 107.3% 2018 CITY 9,973,404 10,101,494 101.3% 342,661 196,281 10,640,436 106.7% 2019 CITY 10,739,892 10,934,650 101.8% 334,747 235,780 11,505,177 107.1% 2020 CITY 11,579,399 11,903,093 102.8% 324,171 174,543 12,401,806 107.1% 2021 CITY 12,053,343 12,533,249 104.0% 385,075 227,293 13,145,617 109.1% 2022 CITY 12,907,542 13,384,430 103.7% 393,965 349,169 14,127,563 109.5% 2023 CITY 14,202,475 14,607,002 102.8% 329,155 450,198 15,386,355 108.3% 2024 CITY 16,267,102 16,695,000 102.6% 2,023,747 375,456 19,094,204 117.4% (1) Amounts prior to 2013 include all City property taxes and Redevelopment Agency Property Tax increment:

Secured, Unitary, Unsecured, Supplemental, Homeowners, Prior, Airport. (2) Supplemental and Collections in subsequent years are not included in the Taxes Levied amount. Therefore, they are deducted from the amount collected within the fiscal year of levy in order to calculate the Percent of Levy correctly.
(3) Collection of more than 100% of the levied amount is due to roll changes that occurred after the lien date. (4) The County does not provide readily available information on adjustments to the annual tax levy. Therefore, the original levy at the start of the fiscal year is presented as well as the total collections for the fiscal year.

Because of supplement tax bills and adjustments throughout the fiscal year, the original tax levy amount changes. Actual collections of property tax may exceed the original levy because of these adjustments.

Collected within the
Fiscal Year of Levy Total Collections to Date
Sources: City Finance Department and Office of the Auditor-Controller, County of San Bernardino. 197
City of Chino
Taxable Sales by Category
Last Ten Fiscal Years
Point of Sale/Seven Major Industry Groups 2015 2016 2017 2018 Autos and Transportation 2,210,541$ 2,472,116$ 2,694,086$ 2,567,621$ Building and Construction 1,498,968 1,923,014 2,148,330 2,065,872 Business and Industry 6,858,825 7,510,480 8,546,060 10,198,016 Food and Drugs 533,837 512,384 531,527 516,968 Fuel and Service Stations 1,309,894 1,153,275 1,158,079 1,169,310 General Consumer Goods 5,086,234 5,178,713 5,258,722 4,846,883 Restaurants and Hotels 1,396,662 1,479,791 1,543,794 1,643,525 Transfers & Unidentified 7,114 (11,742) 3,613 22,831 Total Point of Sale (1)
18,902,075$ 20,218,031$ 21,884,211$ 23,031,026$ City Direct Sales Tax Rate 0.00% 0.00% 0.00% 0.00%
Total State, City, and County Sales Tax Rate (2) 8.00% 8.00% 8.00% 7.75% (2) Rate in effect on July 1
Fiscal Year Ending June 30,
Notes:
(1) Point of Sale does not include State and County Pool Allocations Source: HdL Companies
198
2019 2020 2021 2022 2023 2024
3,017,087$ 2,240,337$ 2,397,561$ 1,811,386$ 1,841,181$ 1,616,765$ 3,880,810 1,752,132 4,701,008 4,455,387 4,620,192 4,360,280 10,494,650 10,494,133 13,750,558 14,349,596 14,245,111 14,739,010 583,076 624,238 735,218 703,691 700,715 726,741 1,458,174 1,227,362 1,285,684 2,019,245 1,702,543 1,751,245 5,382,562 4,566,227 5,034,300 5,383,178 5,143,491 5,526,744 1,794,441 1,568,572 1,745,184 2,133,070 2,355,403 2,458,276 35,765 62,248 59,736 67,812 54,129 79,803 26,646,565$ 22,535,249$ 29,709,249$ 30,923,365$ 30,662,765$ 31,258,864$

0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

7.75% 7.75% 7.75% 7.75% 7.75% 7.75%
Fiscal Year Ending June 30,
199
City of Chino
Principal Sales Tax Producers
Current Year and Five Years Ago
Fiscal Year Fiscal Year
2023-24 2018-19
7 Eleven Argos Material Distribution
Argos Material Distribution Best Buy
Best Buy Chino Hills Ford
Chino Hills Ford Circle K
Circle K Corona Millworks
Corona Millworks Creative Bus Sales
Fisher Scientific El & El Wood Products
Home Depot Fisher Scientific
Main Electric Supply Home Depot
McKesson Medical Supply Kohls
McKesson Medical Surgical Main Electric Supply
McKesson Medical Surgical
Government Solutions
McKesson Medical Surgical
Metrie El & El MK Smith Chevrolet
MK Smith Chevrolet NGY Stones & Cabinet
Model 1 Commercial Vehicles** Nordstrom Rack
NGY Stones & Cabinet Overhead Door
Princess Polly USA Redbuilt
Redbuilt Ross
Ross Sams Club w/ Fuel
Sams Club w/ Fuel Sika Chemical Corporation
Sika Chemical Corporation Stater Bros
Stater Bros Target
Target TJ Maxx
TJ Maxx Walmart Fufillment Center
Walmart Supercenter Walmart Supercenter
Total Point of Sale Sales Tax*: 31,258,862$ 26,646,564$ Top 25 Total 19,211,613$ 15,940,224$ Top 25 as Percent of Total 61% 60%
Notes:
*Presented on a cash basis, and it does not include State and County Pool Allocations Source: HdL Companies
200
City of Chino
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal
Year General Tax Percent of Percent of
Ended Obligation Allocation Assessed Per Personal
June 30, Bonds Bonds (2) Total Value (1) Capita Income
2015 - $ -$ -$ - - - 2016 - - - - - - 2017 - - - - - - 2018 - - - - - - 2019 - - - - - - 2020 - - - - - - 2021 - - - - - - 2022 - - - - - - 2023 - - - - - - 2024 - - - - - - Fiscal
Year Certificates of Installment Leases SBITA Leases SBITA Percent of Per Percent of Ended Participation Obligation Payable Payable Reimbursement Section 108 Payable Payable Total Assessed Capita Personal June 30, (3) WFA (5) (6) (6) Agreement (2) loan (6) (6) (4) Value (4) Income (4) 2015 2,705,000$ 99,347$ - $ - $ -$ -$ - $ -$ 2,804,347$ n/a 33 0.14% 2016 1,965,000 - - - - - - - 1,965,000 n/a 23 0.09% 2017 1,195,000 - - - - - - - 1,195,000 n/a 14 0.05% 2018 395,000 - - - - - - - 395,000 n/a 4 0.02% 2019 - - - - - - - - - n/a - 0.00% 2020 - - - - - - - - - n/a - 0.00% 2021 - - - - - - - - - n/a - 0.00% 2022 - - - - - - - - - n/a - 0.00% 2023 - - - 68,866 - - 520,573 1,085,099 1,674,538 n/a 18 0.05% 2024 - - - 34,621 - - 317,163 779,775 1,131,559 n/a 12 0.04% (1) Assessed value has been used because the actual value of taxable property is not readily available in California. (2) Due the dissolution of Redevelopment Agency, the Tax Allocation Bonds and the Reimbursement Agreement were transferred to the Successor Agency in 2012.
(3) 2003 Water COPs and 2003 Storm Drain COPs
(4) In FY 13-14 CAFR, totals restated due to inclusion of COPs into the schedule (5) In FY 14-15 CAFR, totals restated due to inclusion of Installment Obligation into the schedule Sources: State Department of Finance, County of San Bernardino Auditor-Controller, City Finance Department report Outstanding General Bonded Debt
Business Type Activities Governmental Activities
201
City of Chino
Direct and Overlapping Debt
June 30, 2023

2023-24 Assessed Valuation: 19,484,102,477$
City's Share
OVERLAPPING DEBT REPAID WITH Total Debt Percent of Debt PROPERTY TAXES AND ASSESSMENTS: June 30, 2024 Applicable (1) June 30, 2024 Metropolitan Water District 18,210,000$ 0.503% 91,596$ Chaffey Community College District 278,160,000 12.03% 33,459,866 Chino Valley Unified School District 763,817,971 50.30% 384,223,354 Chaffey Union High School District 587,088,245 0.073% 428,574 Mountain View School District School Facilities Improvement District No. 1 5,829,676 0.543% 31,655 Mountain View School District School Facilities Improvement District No. 2 18,490,000 1.119% 206,903 City of Chino Community Facilities District No. 99-1 2,650,000 100% 2,650,000 City of Chino Community Facilities District No. 2000-1 755,000 100% 755,000 City of Chino Community Facilities District No. 2001-1 1,460,000 100% 1,460,000 City of Chino Community Facilities District No. 2003-1 3,980,000 100% 3,980,000 City of Chino Community Facilities District No. 2003-2 3,640,000 100% 3,640,000 City of Chino Community Facilities District No. 2003-3, I.A. No. 1 13,590,000 100% 13,590,000 City of Chino Community Facilities District No. 2003-3, I.A. No. 2 13,000,000 100% 13,000,000 City of Chino Community Facilities District No. 2003-3, I.A. No. 6 11,430,000 100% 11,430,000 City of Chino Community Facilities District No. 2003-3, I.A. No. 7 37,065,000 100% 37,065,000 City of Chino Community Facilities District No. 2003-3, I.A. No. 8 20,560,000 100% 20,560,000 City of Chino Community Facilities District No. 2003-3, I.A. No. 9 32,265,000 100% 32,265,000 City of Chino Community Facilities District No. 2003-4 3,280,000 100% 3,280,000 City of Chino Community Facilities District No. 2005-1, I.A. No. 1 11,140,000 100% 11,140,000 City of Chino Community Facilities District No. 2005-1, I.A. No. 2 1,745,000 100% 1,745,000 City of Chino Community Facilities District No. 2005-1, I.A. No. 3 2,340,000 100% 2,340,000 City of Chino Community Facilities District No. 2005-1, I.A. No. 4 5,675,000 100% 5,675,000 City of Chino Community Facilities District No. 2005-2 3,075,000 100% 3,075,000 City of Chino Community Facilities District No. 2006-1 3,900,000 100% 3,900,000 City of Chino Community Facilities District No. 2006-2 4,920,000 100% 4,920,000 City of Chino Community Facilities District No. 2006-3 4,625,000 100% 4,625,000 City of Chino Community Facilities District No. 2009-1 9,775,000 100% 9,775,000 City of Chino Community Facilities District No. 2016-1 8,615,000 100% 8,615,000 City of Chino Community Facilities District No. 2016-2 6,890,000 100% 6,890,000 City of Chino Community Facilities District No. 2019-1 9,795,000 100% 9,795,000 City of Chino Community Facilities District No. 2021-1 7,085,000 100% 7,085,000

TOTAL OVERLAPPING DEBT REPAID WITH
PROPERTY TAXES AND ASSESSMENTS 641,696,948
OVERLAPPING DEBT REPAID FROM GENERAL FUND:

San Bernardino County General Fund Obligations 131,565,000 6.120% 8,047,831 San Bernardino County Flood Control District General Fund Obligations 37,295,000 6.117% 2,281,335 Chaffey Community College District Certificates of Participation 23,835,000 12.029% 2,867,112 West Valley Vector Control District Certificates of Participation 1,491,876 16.927% 251,038 TOTAL OVERLAPPING DEBT REPAID FROM GENERAL FUND 13,447,316 OVERLAPPING TAX INCREMENT DEBT (Successor Agency): 39,760,000 100.00% 39,760,000 TOTAL OVERLAPPING DEBT 694,904,264
DIRECT CITY DEBT:

City of Chino (3) 1,131,559 100.00% 1,131,559 TOTAL DIRECT DEBT 1,131,559
TOTAL DIRECT AND OVERLAPPING DEBT 696,035,823$ (2) (3) City of Chino includes Leases Payable and SBITA’s Payable (1) For debt repaid with property taxes, the percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of another governmental unit’s taxable assessed value that is within the city’s boundaries and dividing it by each unit’s total taxable assessed value.
(2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and tax allocation bonds and non-bonded capital lease obligations.

Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the City of Chino. This process recognizes that, when considering the City’s ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account.

However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt of each overlapping government.

Source: California Municipal Statistics
202
City of Chino
Legal Debt Margin Information
Last Ten Fiscal years
Assessed value
Conversion percentage
Adjusted AV
Debt limit (15% of assessed value)
Debt applicable to limit:

General obligation bonds
Less: Amount set aside for repayment of GO bonds
Total net debt applicable to limit
Legal debt margin
Total
Debt
Applicable
Fiscal Total to the
Year Adjusted Debt Net Debt Legal Limit as
Ended Assessed Conversion Assessed Limit Debt Applicable Debt Percent of June 30, Valuation Percentage Valuation Percent Limit to Limit Margin Limit 2015 9,880,538,036$ 25% 2,470,134,509$ 15% 370,520,176$ - 370,520,176$ 0% 2016 10,603,541,516 25% 2,650,885,379 15% 397,632,807 - 397,632,807 0% 2017 11,205,388,490 25% 2,801,347,123 15% 420,202,068 - 420,202,068 0% 2018 12,140,933,379 25% 3,035,233,345 15% 455,285,002 - 455,285,002 0% 2019 13,308,112,924 25% 3,327,028,231 15% 499,054,235 - 499,054,235 0% 2020 14,223,945,266 25% 3,555,986,317 15% 533,397,947 - 533,397,947 0% 2021 15,053,974,093 25% 3,763,493,523 15% 564,524,028 - 564,524,028 0% 2022 15,980,444,384 25% 3,995,111,096 15% 599,266,664 - 599,266,664 0% 2023 17,295,592,739 25% 4,323,898,185 15% 648,584,728 - 648,584,728 0% 2024 19,484,102,477 25% 4,871,025,619 15% 730,653,843 - 730,653,843 0% Legal Debt Margin Calculation for Fiscal Year 2024
The Government Code of the State of California provides for the legal debt limit of 15% of gross assessed valuation. However, this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-82 fiscal year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The computations shown above reflect a conversion of assessed valuation data for each fiscal year from the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local governments located within the state.
19,484,102,477$
25%
4,871,025,619
730,653,843
-
-
-
730,653,843$
Sources: City Finance Department
Sources: County Tax Assessor's Office
203
City of Chino
Demographic and Economic Statistics
Last Ten Calendar Years
Per Capita City
Calendar Personal Personal Unemployment
Year Population Income Income Rate
2015 84,465 23,116 1,952,492,940 4.90% 2016 85,934 25,643 2,203,605,562 4.50% 2017 88,026 26,823 2,361,121,398 4.50% 2018 89,797 22,310 2,003,371,070 3.50% 2019 91,583 23,116 2,117,032,628 3.00% 2020 94,371 26,679 2,517,723,909 10.00% 2021 94,558 28,791 2,722,419,378 5.50% 2022 92,770 35,290 3,273,853,300 3.20% 2023 94,945 35,912 3,409,664,840 4.40% 2024 93,114 34,162 3,180,960,468 5.00% Sources: California Department of Finance
CA Employment Development Department
US Census Bureau
ERSI
Careertrends.com
BestPlaces.net
204
City of Chino
Principal Employers
Current Year and Four Years Ago
2024 2020
Number of
Employees Employer
Percent of Total
Employment
Percent of Total
Employment
Over 1,000:

Chino Valley Unified School District 6.18% 5.58%
Walmart Fulfillment Center 5.11% 4.65%
FedEx Ground Package Systems Inc. (Flight Avenue) 3.05% ** California Institution for Men 2.88% 2.96%
500-1,000:

California Institution for Women 2.02% 1.77%
Amazon.com Services, Inc. (Merrill Avenue) 1.66% **
FedEx Ground Package Systems Inc. (Fern Avenue) 1.44% 0.82% City of Chino 1.29% 1.15%
Chino Valley Medical Center 1.27% 1.48%
KeHe Distributors LLC (former Nature's Best, Inc.) 1.22% 1.48% Hussman Corporation 1.16% 1.20%
Less than 500:

National Distribution Centers 1.05% 1.12%
Berry Global 0.93% 0.99%

Walmart Store (#3464) 0.91% 0.66%

Lollicup USA Inc. 0.77% 0.92%

Canyon Ridge Hospital 0.77% 0.74%
Mc Kesson Medical Surgical Inc. 0.77% 0.82%
Total Labor Force in the City of Chino: 45,900 43,300 Notes:

Sources:

State of California Employment Development Department
located within City limits.

The City elected to show a five year comparison in order to illustrate the current economic trend.

City of Chino Business License Division
"Total Employment" as used above represents the total employment of all employers * All the information is voluntary and self-reported by the company ** Information not available for the applicable year
"Number of Employees" represents the applicable range in the current year. 205
City of Chino
Full-time and Part-time City Employees by Function
Last Ten Fiscal Years
Function 2015 (3) 2016 (3) 2017 2018 2019 2020 2021 2022 2023 2024 General Government (1) 35 36 36 37 38 41 41 42 55 63 Public Safety 155 160 160 161 165 171 171 175 180 185 Public Works (4) 50 56 54 58 36 39 35 40 57 76 Development Services (4) 27 29 28 28 39 39 42 47 46 32 Parks and Community
Services (2) 21 22 22 22 36 38 38 39 49 53 Water 23 27 28 23 28 27 31 31 33 29 Sewer 14 11 12 9 9 11 10 8 9 10 Storm Drain 3 3 4 2 1 1 1 1 2 2 Sanitation 4 4 3 4 3 2 1 2 2 1 Total (2) 332 348 347 344 355 369 370 385 433 451 Notes:
(1) General Government includes Administration, Finance, and Human Resources Department. (2) The schedule displays budgeted positions. 2014 total includes 40 unfunded positions. (3) No longer includes defunded positions
(4) There was a re-organization between Public Works and Community Development in FY 18-19 Source:

City Budget - Administration Department
Full-time Employees as of June 30,
206
Function 2015 (3) 2016 (3) 2017 2018 2019 2020 2021 2022 2023 2024 General Government (1) 13 13 11 13 8 9 9 11 8 7 Public Safety 18 12 16 15 14 17 16 13 15 16 Public Works (4) 20 18 19 20 17 19 16 7 8 12 Development Services (4) 4 4 4 5 5 3 4 3 5 4 Parks and Community
Services (2) 155 154 158 151 165 90 141 131 149 141 Water 6 5 4 5 2 2 1 1 - - Sewer 1 3 1 1 - - - - 1 - Storm Drain 1 - - - - - - - - - Sanitation - - - - - - 1 - 1 - 218 209 213 210 211 140 188 166 187 180 Notes:
(1) General Government includes Administration, Finance, and Human Resources Department. (2) Parks and Community Services suspended recreational programs in 2020 due to COVID-19. (3) No longer includes defunded positions
(4) There was a re-organization between Public Works and Development Services in FY 18-19 Source:

City Finance Department
Part-time Employees as of June 30,
207
City of Chino
Operating Indicators by Function
Last Ten Fiscal Years
2015 2016 2017 2018
Police:

Arrests 3,579 4,151 4,281 5,163 Average Response Time (minutes) (calendar year) 6:59 6:29 7:12 7:29 Calls for Service 83,018 95,592 91,229 89,134 Public Works:

Street Resurfacing (miles) (overlay and slurry seal) 10 10 11 14 Park and Community Services:

Number of Recreation Classes 356 354 379 448 Number of Facility Rentals/Rental Hours (1) 2,632 3,091 3,786 4,008 Community Development (2):

New Housing Units Permits 516 521 242 771 Building Permits Issued 2,599 1,841 2,521 3,019 Sewer:

Average Daily Sewage Flow (MGD) - - - - Water:

Average Daily Production (HCF) 17,424 15,355 15,957 16,853 Notes:
(2) Number of permits issued for new housing units is included in the total building permits issued.

Building Permits Issued include the total of building, electrical, mechanical and plumbing permits.

Source: City Departments
Fiscal Year Ended June 30,
(1) Number of hours facilities were rented in 2009. From 2003 to 2008, number of facility renters shown, instead of hours.
208
2019 2020 2021 2022 2023 2024
4,475 3,847 5,062 4,774 5,361 4,804 7:42 7:12 6:57 6:06 5:38 5:28
84,986 79,504 84,756 91,027 102,688 105,157 14 17 18 13 12 31 498 303 195 341 421 435 5,249 5,817 4,115 5,989 8,986 8,381 294 929 435 824 188 491 691 2,813 3,234 3,936 3,697 3,940 - - - - - - 15,859 17,399 17,737 18,462 16,871 16,804 Fiscal Year Ended June 30,
209
City of Chino
Capital Asset Statistics by Function
Last Ten Fiscal Years
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Police
Stations 1 1 1 1 1 1 1 1 1 1 Public Works:

Street Miles 258 258 259 259 259 260 262 265 267 269 Streetlights (1) 9,221 6,024 6,069 6,070 6,070 6,073 6,089 6,192 6,226 6,262 Traffic Signals 142 145 147 150 151 153 159 161 166 166 Parks and Community Services:

Parks 25 25 27 27 27 27 27 27 27 28 Community Centers 8 8 8 8 8 8 8 8 8 8 Fire Protection Facilities (2) 6 6 6 6 6 6 6 6 5 5 Water:

Water Mains (miles) 265 267 267 267 269 275 276 280 282 285 Sewer:

Sanitary Sewers (miles) 223 223 224 224 224 226 227 235 235 236 Storm:

Storm Drains (miles) 43 44 45 45 45 46 46 48 49 50 (1) Starting with 2015, the total does not include HOA owned lights any longer. An audit of streetlights was performed in 2016. Prior to the audit, the number of City owned lights was overstated. (2) Fire protection facilities include fire stations and a fire training center.

Source: City Departments
Fiscal Year Ended June 30,
210
Ramona Ave
Telephone Ave
Central Ave
6th St
3rd St
7th St
Benson Ave
Benson AveOaks Ave Fern AveEuclid Ave
Euclid Ave
Cypress AveMagnolia AveMountain Ave
Mountain Ave
Cucamonga Ave
Chino Corona Rd
Hellman Ave
San Antonio Ave
Central Ave
Monte Vista Ave
Pipeline AveEast End Ave
Phillips Blvd
Francis Ave
Walnut Ave
Riverside Dr
Lincoln Ave
D St
B St
G St
Chino Ave
Grand Ave
Eucalyptus Ave
Eucalyptus Ave
Wheaton StSouthwestern St
Kimball Ave
Bickmore Ave
Remington Ave
Chino Airport
Chino Corona Rd
Pine Ave
McCarty Rd
El Prado Rd
Edison Ave
Chino Hills Pky
Schaefer Ave
Philadelphia St
Sycamore Ave
Carissa Ave
Rincon Meadows Ave
Mill Creek Ave
W Preserve Loop
E Preserve Loop
Main St
60 71
Filmore St
College Park Ave
CHINO
LOS

ANGELES
Los Angeles County
LONG
BEACH

RIVERSIDE

ONTARIO SAN

BERNARDINO
San Bernardino
County
Riverside
County
Orange
County
SANTA
ANA

CITY OF CHINO,

CALIFORNIA

“From Heritage to Horizon”

Chino City CouncilJune 3, 2025

Chino City Council
June 3, 2025