Colma City Council
October 23, 2024

Regular Meeting Agenda 10.23.2024 Page 1 of 3

AGENDA

REGULAR MEETING

CITY COUNCIL OF THE TOWN OF COLMA
Wednesday, October 23, 2024
Regular Session – 7:00 PM

The City Council meeting will be held in person in the City Council Chambers. The Town will only accept public comments from the public attending in person and will not accept public comments via Zoom.

As a courtesy and technology permitting, the meeting can also be viewed /heard via Zoom Video Conference, but no public comment will be allowed or accepted by the Town via Zoom. The Town cannot guarantee that the public’s access to Zoom will be uninterrupted, and technical difficulties may occur from time to time. In those instances, so long as the public may still attend the meeting in person, the meeting will continue, even if the public is unable to view/hear or otherwise access the meeting via Zoom.

To attend the meeting in person:

Town Hall, Council Chamber, 1198 El Camino Real, Colma CA 94014

To view/hear the meeting via Zoom Video Conference:

Join Zoom Meeting:

https://us02web.zoom.us/j/85610028212

Meeting ID:
856 1002 8212

Dial by your location:
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To provide Public Comment:

Members of the public wishing to provide public comment are required to attend the meeting in person and are requested to complete a yellow speaker card and submit it to the City Clerk. Comments should be kept to three minutes or less. If there appears to be a large number of speakers, time may be reduced to no less than one minute each, at the discretion of the Mayor.

The City Council Meeting Agenda Packet and supporting documents are available for review on the Town’s website www.colma.ca.gov or at Colma Town Hall, 1198 El Camino Real, Colma, CA. Persons interested in obtaining an agenda via e-mail should call 650-997-8300 or email a request to [email protected].

Reasonable Accommodation
Upon request, this publication will be made available in appropriate alternative formats to persons with disabilities, as required by the Americans with Disabilities Act of 1990. Any person with a disability, who requires a modification or accommodation to view the agenda, should direct such a request to Renee Eshun, ADA Coordinator, at 650-997-8300 or [email protected]. Please allow two business days for your request to be processed.

Regular Meeting Agenda 10.23.2024 Page 2 of 3

PLEDGE OF ALLEGIANCE AND ROLL CALL

ADOPTION OF AGENDA

PRESENTATIONS
• Citizen Recognition – Yamel Rodriguez

PUBLIC COMMENTS

Comments on the Consent Calendar and Non-Agenda Items will be heard at this time. Comments on Agenda Items will be heard when the item is called.

CONSENT CALENDAR

1. Motion to Approve the Minutes from the October 9, 2024 Special Meeting

2. Motion to Approve the Minutes from the October 9, 2024 Regular Meeting

3. Motion to Approve Report of Checks Paid for September 2024

4. Motion to Adopt Resolution Adopting the Countywide Local Roadway Safety Plan and Accompanying Vision Zero Goal Pursuant to CEQA Guideline 15306

5. Motion to Adopt Ordinance 824 Amending Section 1.04.010 of the Colma Municipal Code, Relating to Compensation of Council Members Pursuant to CEQA Guideline 15378

6. Motion to Accept Informational Report on Recreation Department Program, Activities, Events, and Trips for the Third Quarter of 2024

PUBLIC HEARING

7. HOME DEPOT PARKING VARIANCE
Consider: Motion to Adopt a Resolution Amending Resolution No. 97-01 Approving a Parking Variance for an Existing Commercial Use Located at 2 Colma Boulevard and Finding the Project Exempt from Environmental Review Pursuant to CEQA Guideline 15301 – APN: 008-322-550

NEW BUSINESS

8. FY 2022-23 AUDITED FINANCIAL STATEMENTS AND REPORTS

Consider: Motion to Adopt a Resolution Accepting Auditor’s Reports and Financial Statements for the Fiscal Year Ending June 30, 2023 Pursuant to CEQA Guideline 15378

9. FIRST AMENDMENT TO EMPLOYMENT CONTRACT FOR CITY MANAGER

Consider: Motion to Adopt a Resolution Approving First Amendment to Employment Contract with Daniel Barros to Provide for a Salary Adjustment Pursuant to CEQA Guideline 15378

Regular Meeting Agenda 10.23.2024 Page 3 of 3

REPORTS

Mayor/City Council Reports

Committee Reports

City Manager Report

ADJOURNMENT
Minutes – Special Meeting – 10.9.24 Page 1 of 2

MINUTES

SPECIAL MEETING
City Council of the Town of Colma
Colma Community Center
1520 Hillside Boulevard
Colma, CA 94014
Wednesday, October 10, 2024
11:00 A.M.

CALL TO ORDER
Council Member Fisicaro called the meeting to order at 10:12 a.m.

Council Present – Council Member Helen Fisicaro and Council Member Carrie Slaughter were present. Mayor John Goodwin, Vice Mayor Ken Gonzalez, and Council Member del Rosario was absent.

Staff Present – City Manager Dan Barros, Recreation Manager Angelika Abellano, Recreation Coordinator Dinora Navarro, Recreation Coordinator Daisy Esquivas, City Clerk Michelle Estabillo, Administrative Technician Abigail Dometita were in attendance.

WELCOME AND INTRODUCTION OF SPECIAL GUESTS
Council Member Fisicaro welcomed special guests from the Italian Community:
• Leo Pierini, President of the California Law Enforcement Columbia Associaton • Dennis Fisicaro, Former Mayor of Colma
• Steve Chiappari, General Manager from the Italian Cemetery • Diane Chiappari
• Mark Addiego, City of South San Francisco Council Member • Felicia Leong, CEO of the Colma Daly City Chamber of Commerce • Tom Nuris, President of the Colma Daly City Chamber of Commerce Representatives from the Colma Fire Protection District

PROCLAMATION IN HONOR OF ITALIAN HERITAGE MONTH
Council Member Fisicaro read a proclamation in recognition of Italian Heritage Month. She invited Mr. Pierini to speak.

RAISING OF THE ITALIAN FLAG
Colma Police Officers raised the Italian Flag.

ITEM #1
Minutes – Special Meeting – 10.9.24 Page 2 of 2

REMARKS BY MEMBERS OF THE PUBLIC
Council Member Fisicaro opened the meeting to Public Comment and there were no speakers.

ADJOURNMENT
Council Member Fisicaro adjourned the meeting at approximately 11:26 a.m.

Respectfully submitted,
Michelle Estabillo, MMC
Ci
ty Clerk
Minutes – Regular Meeting 10.9.24 Page 1 of 4

MINUTES

REGULAR MEETING
City Council of the Town of Colma
Town Hall Council Chamber
1198 El Camino Real, Colma CA
Also viewable via Zoom.us
Wednesday, October 9, 2024
Closed Session – 6:00 PM
Regular Session – 7:00 PM

PLEDGE OF ALLEGIANCE AND ROLL CALL
Vice Mayor Gonzalez called the meeting to order at 7:00 p.m.

Council Present – Vice Mayor Ken Gonzalez, and Council Members Carrie Slaughter, Helen Fisicaro, and Joanne F. del Rosario
Staff Present – City Manager Daniel Barros, City Attorney Christopher Diaz, Chief of Police John Munsey, Planning Director Brad Donahue, Administrative Services Director Renee Eshun, City Clerk Michelle Estabillo, and Administrative Technician III Abigail Dometita Co
uncil recited the Pledge of Allegiance.

REPORT FROM CLOSED SESSION
Vice Mayor Gonzalez stated there was no reportable action taken in Closed Session.

ADOPTION OF THE AGENDA
Action: A motion was made by Council Member del Rosario, seconded by Council Member Fisicaro, to adopt the agenda. The motion carried by the following vote:

Name Voting Present, Not Voting Absent
Aye No Abstain Not Participating
John Irish Goodwin, Mayor 
Ken Gonzalez, Vice Mayor 
Carrie Slaughter 
Helen Fisicaro 
Joanne F. del Rosario 
4 0
PR

ESENTATIONS
• Vice Mayor Gonzalez recognized October as Italian Heritage Month. • Vice Mayor Gonzalez proclaimed October as Domestic Violence Awareness Month and presented the Proclamation to Lynn Schuette from Community Overcoming Relationship Abuse (CORA).

ITEM #2

Minutes – Regular Meeting 10.9.24 Page 2 of 4

PUBLIC COMMENTS

There were no Public Comments.

CONSENT CALENDAR

2. Motion to Approve the Minutes of the September 25, 2024 Special Meeting

3. Motion to Approve the Minutes of the September 25, 2024 Regular Meeting

4. Motion to Adopt Resolution No. 2024-36 Approving and Adopting the Amended Conflict of Interest Code Pursuant to the Political Reform Act of 1974 and Pursuant to CEQA Guideline 15378

Action: A motion was made by Council Member Slaughter, seconded Council Member del Rosario, to approve the Consent Calendar. The motion carried by the following vote:

Name Voting Present, Not Voting Absent
Aye No Abstain Not Participating
John Irish Goodwin, Mayor 
Ken Gonzalez, Vice Mayor 
Carrie Slaughter 
Helen Fisicaro 
Joanne F. del Rosario 
4 0

NEW BUSINESS

5. FEMA Grant

Administrative Services Director Eshun provided the staff report.

Council questions and comments followed.

City Manager Barros and Administrative Services Director Eshun responded to Council questions.

Minutes – Regular Meeting 10.9.24 Page 3 of 4
Action: A motion was made by Council Member Fisicaro, seconded by Council Member Slaughter, to rescind Resolution No. 2020-17 and adopt Resolution 2024-37 approving a new designation of Applicant’s Agent for Non-State Agencies (CAL OES Form 130). The motion carried by the following vote:

Name Voting Present, Not Voting Absent
Aye No Abstain Not Participating
John Irish Goodwin, Mayor 
Ken Gonzalez, Vice Mayor 
Carrie Slaughter 
Helen Fisicaro 
Joanne F. del Rosario 
4 0

6. Ordinance Relating to Council Compensation

City Attorney Diaz presented the staff report.

Council questions and comments followed.

City Attorney Diaz responded to Council questions.

By consensus, the Council requested that review of the Council compensation be done every two years prior to an election.

Action: A motion was made by Council Member del Rosario, seconded by Council Member Slaughter, to introduce Ordinance No. 824 amending section 1.04.010 of the Colma Municipal Code relating to compensation of Council Members pursuant to CEQA Guideline 15378. The motion carried by the following vote:

Name Voting Present, Not Voting Absent
Aye No Abstain Not Participating
John Irish Goodwin, Mayor 
Ken Gonzalez, Vice Mayor 
Carrie Slaughter 
Helen Fisicaro 
Joanne F. del Rosario 
4 COUNCIL CALENDARING

The next Regular Meeting will be on Wednesday, October 23, 2024, at 7:00 p.m.

Minutes – Regular Meeting 10.9.24 Page 4 of 4

REPORTS
T
here were no Council reports.

Ci
ty Manager Barros announced Governor Newsom signed Senate Bill 549: Tribal Nations Access to Justice Act into law on September 28, 2024 and spoke about the impacts it will have on Lucky Chances. He also provided an update on the Raising Canes project at 280 Metro. Lastly, City Manager Barros shared Recreation events scheduled in October that include Cinema in the Cemetery on October 12; Pumpkin Carving events on October 21 and October 22; and Trunk or Treat on October 25.

AD

JOURNMENT
V
ice Mayor Gonzalez adjourned the meeting at 7:37 p.m. in memory of Karen O’Connor, Stella Lopez, and Earl Maita.

R
espectfully submitted,
M
ichelle Estabillo, MMC
City Clerk
Page: 1Check History ListingapCkHist
8:42AM Town of Colma10/09/2024
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02149 HDL
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03666 PACIFIC SKYLINE COUNCIL, PACIFIC SKYLINE COUNCIL, INC2024080559085 50.0008/17/202409/06/2024 50.00 03751 PINEAPPLES SF LLC 07/07/24 BALANCE59086 764.8807/07/202409/06/2024 764.88 03751 PINEAPPLES SF LLC 07/07/24 DEPOSIT59087 400.0007/07/202409/06/2024 400.00 01023 PRIORITY 1 989059088 6,996.6008/28/202409/06/2024 6,996.60 Page: 1
ITEM #3
Page: 2Check History ListingapCkHist
8:42AM Town of Colma10/09/2024
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31146 859.6109/04/2024 79.45
03616 FLEXIBLE BENEFIT ADMIN 20125659105 20.0009/05/202409/13/2024 20.00 Page: 2
Page: 3Check History ListingapCkHist
8:42AM Town of Colma10/09/2024
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Page: 4Check History ListingapCkHist
8:42AM Town of Colma10/09/2024
firstBank code:

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8:42AM Town of Colma10/09/2024
firstBank code:

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Page: 5
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8:42AM Town of Colma10/09/2024
firstBank code:

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8:42AM Town of Colma10/09/2024
firstBank code:

Check # Date Vendor Status Clear/Void Date Amount PaidInvoice Inv. Date Check Total 03662 PIPE AND PLANT SOLUTIONS, INC. 23444-0259169 11,541.9204/26/202409/20/2024 11,541.92 00311 PITNEY BOWES INC. 310680798459170 899.6408/30/202409/20/2024 899.64 02970 PRODUCTIVE PRINTING & GRAPHICS 3784659171 288.4409/11/202409/20/2024 288.44 02216 RAMOS OIL CO. INC. CL11921859172 1,561.8309/10/202409/20/2024 1,561.83 00349 SEGALE & CERINI INC. 1815759173 08/30/202409/20/2024 23,080.00 18159 08/30/2024 5,689.00
18158 29,110.0008/30/2024 341.00
03686 SERRA YELLOW CAB, INC 1078-01059174 1,030.5708/31/202409/20/2024 1,030.57 00714 SMC ASSESSOR-COUNTY CLERK- 9/11/24 CEQA FEE59175 50.0009/11/202409/20/2024 50.00 00363 SMC NARCOTICS TASK FORCE FY 2024-2025 JPA Con59176 2,734.0008/29/202409/20/2024 2,734.00 02224 STANDARD INSURANCE COMPANY Oct2024Coverage59177 243.0709/16/202409/20/2024 243.07 00412 TELECOMMUNICATIONS ENGINEERING 4899859178 1,652.5009/10/202409/20/2024 1,652.50 03710 VESTIS GROUP, INC. 518038153159179 09/16/202409/20/2024 19.86 5180381535 39.7209/16/2024 19.86
03645 WHITLOCK & WEINBERGER TRANSPOR 3184359180 1,695.0009/10/202409/20/2024 1,695.00 01745 WILLIAM D. WHITE CO., INC. 46107359181 712.5009/13/202409/20/2024 712.50 00047 C.L.E.A. 09202024 B59182 544.0009/20/202409/20/2024 544.00 01375 NATIONWIDE RETIREMENT SOLUTION 09202024 B59183 3,233.0609/20/202409/20/2024 3,233.06 01340 NAVIA BENEFIT SOLUTIONS 09202024 B59184 1,617.5309/20/202409/20/2024 1,617.53 02224 STANDARD INSURANCE COMPANY 09202024 B59185 364.0009/20/202409/20/2024 364.00 00300 ABILITYPATH FY 2024-2025 Grant59186 6,500.0009/20/202409/27/2024 6,500.00 00004 AT&T 00002229646059187 1,702.1909/13/202409/27/2024 1,702.19 00093 CITY OF SOUTH SAN FRANCISCO 52052059188 4,745.0008/21/202409/27/2024 4,745.00 00507 COLMA FIRE PROTECTION DISTRICT 8/8, 9/28 & 10/12/2459189 325.0009/15/202409/27/2024 325.00 Page: 7
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8:42AM Town of Colma10/09/2024
firstBank code:

Check # Date Vendor Status Clear/Void Date Amount PaidInvoice Inv. Date Check Total 01037 COMCAST CABLE 0188769 09122459190 55.9009/12/202409/27/2024 55.90 03764 COMPANY FOLDERS, INC 4395559191 1,022.6609/24/202409/27/2024 1,022.66 00055 RELATIONSHIP ABUSE) CORA (COMMUNITY OVERCOMINGFY 2024-2025 Grant59192 9,000.0009/20/202409/27/2024 9,000.00 02827 CORODATA SHREDDING, INC. DN 148827859193 115.6908/31/202409/27/2024 115.69 02453 DALY CITY PUBLIC LIBRARY ASSOC FY 2024-2025 Grant59194 5,700.0009/20/202409/27/2024 5,700.00 02491 DALY CITY YOUTH HEALTH CENTER FY 2024-2025 Grant59195 6,000.0009/20/202409/27/2024 6,000.00 00117 DELTA DENTAL OF CALIFORNIA BE00626489759196 13,860.4210/01/202409/27/2024 13,860.42 00112 DEPARTMENT OF JUSTICE 76090159197 49.0009/06/202409/27/2024 49.00 03616 FLEXIBLE BENEFIT ADMIN 20173959198 132.0009/19/202409/27/2024 132.00 03766 FUND A NEED INC FY 2024-2025 Grant59199 3,000.0009/20/202409/27/2024 3,000.00 02499 GE CAPITAL INFORMATION (RICOH) 10859995159200 282.7409/16/202409/27/2024 282.74 03498 ALEJANDRA GONZALEZ 2002915.00359201 650.0009/23/202409/27/2024 650.00 03712 HD SUPPLY, INC. F/K/A 82379096959202 184.3109/05/202409/27/2024 184.31 03661 HEALTHRIGHT 360 FY 2024-2025 Grant59203 3,000.0009/20/202409/27/2024 3,000.00 03765 CARLOS HERRERA 2002898.00359204 300.0008/21/202409/27/2024 300.00 00177 HUMAN INVESTMENT PROJECT FY 2024-2025 Grant59205 10,000.0009/20/202409/27/2024 10,000.00 02989 LIFEMOVES FY 2024-2025 Grant59206 5,000.0009/20/202409/27/2024 5,000.00 03501 INGRID MEZA 2002899.00359207 1,000.0008/21/202409/27/2024 1,000.00 03767 MOONSTAR CHARITABLE ORGANIZATI FY 2024-2025 Grant59208 7,000.0009/20/202409/27/2024 7,000.00 03768 MY GOOD BRAIN INC FY 2024-2025 Grant59209 2,000.0009/20/202409/27/2024 2,000.00 01586 OMBUDSMAN SERVICES OF SAN FY 2024-2025 Grant59210 2,500.0009/20/202409/27/2024 2,500.00 03228 OPERATION SANTA CLAUS FY 2024-2025 Grant59211 2,000.0009/20/202409/27/2024 2,000.00 00307 PACIFIC GAS & ELECTRIC 1918250367-2 17Sep2459212 09/17/202409/27/2024 12,831.99 Page: 8
Page: 9Check History ListingapCkHist
8:42AM Town of Colma10/09/2024
firstBank code:

Check # Date Vendor Status Clear/Void Date Amount PaidInvoice Inv. Date Check Total 0512181543-4 06Sep24 15,439.6609/06/2024 2,607.67
03609 PAYMENTUS CORPORATION INV-15-15279259213 50.3408/31/202409/27/2024 50.34 02767 PILIPINO BAYANIHAN RESOURCE PBRC's 35th Anniv59214 80.0009/26/202409/27/2024 80.00 02970 PRODUCTIVE PRINTING & GRAPHICS 3784759215 221.3409/11/202409/27/2024 221.34 02886 READY REFRESH BY NESTLE 04I003645766159216 46.9709/10/202409/27/2024 46.97 03660 RENAISSANCE ENTREPRENEURSHIP FY 2024-2025 Grant59217 3,500.0009/20/202409/27/2024 3,500.00 03573 LUZ RODRIGUEZ 2002917.00359218 300.0009/23/202409/27/2024 300.00 03528 SILICON VALLEY BICYCLE COALITI FY 2024-2025 Grant59219 1,000.0009/20/202409/27/2024 1,000.00 00654 SITIKE COUNSELING CENTER FY 2024-2025 Grant59220 6,500.0009/20/202409/27/2024 6,500.00 00360 SMC COMMUNITY COLLEGE FY 2024-2025 Grant59221 5,000.0009/20/202409/27/2024 5,000.00 00364 SMC FORENSIC LAB PS-INV10464059222 475.0008/31/202409/27/2024 475.00 00460 SMC JOBS FOR YOUTH FY 2024-2025 Grant59223 5,000.0009/20/202409/27/2024 5,000.00 03665 SO.SF EDUCATION FOUNDATION FY 2024-2025 Grant59224 6,500.0009/20/202409/27/2024 6,500.00 00388 SONITROL 37544459225 1,177.3809/10/202409/27/2024 1,177.38 00830 STAPLES BUSINESS CREDIT 601006229359226 08/25/202409/27/2024 256.92 6010062294 08/25/2024 205.99
6010062292 487.1808/25/2024 24.27
01030 STEPFORD, INC. 240154559227 09/20/202409/27/2024 9,814.55 2406415 12,255.8009/17/2024 2,441.25
00391 SUSTAINABLE SAN MATEO COUNTY FY 2024-2025 Grant59228 1,000.0009/20/202409/27/2024 1,000.00 02849 6746050100 U.S. BANK PARS ACCOUNT 2024-10 OPEB59229 101,073.0009/25/202409/27/2024 101,073.00 02946 AMANDA VELASQUEZ 9/9 & 9/13/24 Reimb59230 82.8209/18/202409/27/2024 82.82 00432 VISION SERVICE PLAN 82131044059231 1,132.1209/19/202409/27/2024 1,132.12 00130 EMPLOYMENT DEVELOPMENT DEPT 09062024 M95237 90.0009/06/202409/06/2024 90.00 Page: 9
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8:42AM Town of Colma10/09/2024
firstBank code:

Check # Date Vendor Status Clear/Void Date Amount PaidInvoice Inv. Date Check Total 00521 UNITED STATES TREASURY 09062024 M95238 1,180.6009/06/202409/06/2024 1,180.60 00631 P.E.R.S. 09062024 M95239 859.7009/06/202409/06/2024 859.70 01360 MISSIONSQUARE RETIREMENT 09062024 M95240 493.2609/06/202409/06/2024 493.26 00282 RETIREMENT SYSTEM CALIFORNIA PUBLIC EMPLOYEES09062024 M95241 5,335.0709/06/202409/06/2024 5,335.07 00130 EMPLOYMENT DEVELOPMENT DEPT 09062024 B95242 17,773.8709/06/202409/06/2024 17,773.87 00521 UNITED STATES TREASURY 09062024 B95243 73,761.5209/06/202409/06/2024 73,761.52 00282 RETIREMENT SYSTEM CALIFORNIA PUBLIC EMPLOYEES09062024 B95244 78,802.4909/06/202409/06/2024 78,802.49 00631 P.E.R.S. 09062024 B95245 55,151.0409/06/202409/06/2024 55,151.04 01360 MISSIONSQUARE RETIREMENT 09062024 B95246 6,270.8409/06/202409/06/2024 6,270.84 00068 COLMA PEACE OFFICER'S 09062024 B95247 1,208.8809/06/202409/06/2024 1,208.88 00130 EMPLOYMENT DEVELOPMENT DEPT 09202024 B95252 18,807.5809/20/202409/20/2024 18,807.58 00521 UNITED STATES TREASURY 09202024 B95253 76,458.9709/20/202409/20/2024 76,458.97 00631 P.E.R.S. 09202024 B95254 55,527.9209/20/202409/20/2024 55,527.92 01360 MISSIONSQUARE RETIREMENT 09202024 B95255 7,944.5309/20/202409/20/2024 7,944.53 00068 COLMA PEACE OFFICER'S 09202024 B95256 1,208.8809/20/202409/20/2024 1,208.88 02377 CALIFORNIA STATE DISBURSEMENT 09202024 B95257 519.2309/20/202409/20/2024 519.23 00282 RETIREMENT SYSTEM CALIFORNIA PUBLIC EMPLOYEES100000017647566120086 7,438.2708/14/202409/01/2024 7,438.27 03616 FLEXIBLE BENEFIT ADMIN SEPTEMBER2024HRA120087 61,575.1808/23/202409/01/2024 61,575.18 00631 P.E.R.S. 100000017645515120088 2,100.0008/14/202409/01/2024 2,100.00 02377 CALIFORNIA STATE DISBURSEMENT 09252024 Online Fee120092 2.5009/25/202409/25/2024 2.50 1,384,768.68first Total:

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8:42AM Town of Colma10/09/2024
firstBank code:

Check # Date Vendor Status Clear/Void Date Amount PaidInvoice Inv. Date Check Total Total Checks:checks in this report 182 1,384,768.68
Page: 11
Staff Report – Adoption of the Countywide LRSP Page 1 of 3

STAFF REPORT
TO: May
or and Members of the City Council
FROM: Brad Donohue, Director of Public Works and Planning Abdulkader Hashem, Senior Project Manager
VIA: Dan Barros, City Manager
MEETING DATE: October 23, 2024
SUBJECT: Adoption of the Countywide Local Roadway Safety Plan

RECOMMENDATION
Staff recommends that the City Council adopt the following:

RESOLUTION ADOPTING THE COUNTYWIDE LOCAL ROADWAY SAFETY PLAN AND ACCOMPANYING VISION ZERO GOAL, PURSUANT TO CEQA GUIDELINE 15306

COUNCIL ADOPTED VALUES
The Countywide and Town Local Roadway and Safety Plan is visionary , it allows the Town to stay compliant and in line with San Mateo County ’s and the Town’s goals for safe streets for all modes of transportation.

BACKG
ROUND
A Local Roadway Safety Plans (LRSP) identifies and systematically analyzes roadway safety needs and develops a prioritized list of safety countermeasures. A LRSP offers a proactive approach to addressing safety needs and demonstrates agency responsiveness to safety challenges through local agency partnerships and collaboration.

The Countywide Plan is divided into two parts. The first part contains the Countywide LRSP, and the second part contains individual LRSPs from ten participating agencies, including Town of Colma. C/CAG engaged its 21 constituent jurisdictions to ensure an updated safety plan for those without one. The remaining 11 jurisdictions without an individual chapter in this plan already have an adopted plan or have one in progress, thus they are not individually included herein. The jurisdictions with plans developed through this process include Atherton, Belmont, Brisbane, Colma, East Palo Alto, Foster City, Half Moon Bay, Hillsborough, San Carlos, and Woodside.

ITEM #4
Staff Report – Adoption of the Countywide LRSP Page 2 of 3 The Federal Highway Administration and Metropolitan Transportation Commission (MTC) have both committed to achieving Vision Zero, a goal of eliminating fatalities and serious injuries on the nation's roadways. The Federal Highway Administration is using a Safe System approach to achieve this goal, while MTC has adopted a policy supporting cities like those in San Mateo County in their pursuit of Vision Zero. Caltrans has also adopted a similar goal of moving “toward zero deaths” by incorporating the Safe System Approach and using proven effective strategies and countermeasures.

In 2018, the Town conducted a comprehensive Systemic Safety Analysis Report (SSAR) to identify potential improvements for roadway safety. The study analyzed reported crash data, including pedestrian and bicyclist incidents, and evaluated road characteristics using a systemic approach. Based on these findings, the SSAR recommended various countermeasures to enhance safety performance. The Countywide LRSP aligns with the Town’s SSAR.

ANALYSIS
A comprehensive descriptive analysis was undertaken to discern patterns, trends, and potential risk factors using five years' worth of crash data. The data utilized were extracted from the Transportation Injury Mapping System (TIMS) Crash database, covering injury and fatal crashes spanning from 2018 to 2022. This analysis aimed to pinpoint environmental, design, and user characteristics most closely associated with fatal and severe injury (F/SI) outcomes. This study focused exclusively on local roads and at-grade State Highway facilities (SR-82 and SR-35), excluding freeway crashes on the State Highway System (US-101 and SR-92).

This plan aligns with a Vision Zero approach. While C/CAG doesn't own local or State roads in San Mateo County, its vision for this plan represents a collective goal for all 21 communities.

This shared vision aims to significantly reduce fatal and severe injuries, ultimately striving for zero.

This Countywide Plan Vision Zero establishes a desired future condition for San Mateo County, one which is achievable only with collaborative efforts from all relevant agencies. As the lead agency in developing this plan, C/CAG envisions a County of diverse partners sharing resources and responsibility for maintaining a safe and equitable transportation system, with all agencies consistently working together to eliminate death and severe injury on roads countywide.

Detailed Description of the Project/Proposal/Ordinance
The San Mateo Countywide Local Roadway and Safety Plan (LRSP ) is a Countywide Plan that includes each of the 21 jurisdictions in the county. As part of the Plan development led by the City/County Association of Governments of San Mateo County (C/CAG) for the ten jurisdictions, the Plan prioritized locations within MTC’s Equity Priority Community and the C/CAG’s Equity Focus Areas. The Countywide LRSP presents a comprehensive framework for enhancing road safety and improving the transportation network throughout the region.

The Adoption of the Countywide LRSP will render jurisdictions in the County eligible for grant funding from the Metropolitan Transportation Commission (MTC) OBAG 3 County & Local Staff Report – Adoption of the Countywide LRSP Page 3 of 3 Program, and future funding for Caltrans Highway Safety Improvement Program and US Department of Transportation (DOT) Safe Streets for All (SS4A).

In June 2024, the C/CAG Board of Directors adopted the Countywide LRSP and Accompanying Vision Zero Goal (Resolution 24-47). The Countywide LRSP Report can be viewed on C/CAG webpage at 28717_CCAG-Countywide-LRSP-Countywide-Local-w-appendices_Jun7_2.pdf. It is recommended that the City Council adopt the Countywide LRSP to demonstrate its commitment to improving transportation safety and sustainability within the region and to qualify for funding programs offered by USDOT, MTC and Caltrans.

FISCAL IMPACT
In March 2023, the C/CAG Board approved a consultant contract with Kittelson & Associates to develop the San Mateo Countywide Local Roadway Safety Plan. The Town collaborated with C/CAG and the consultant on the Colma chapter without contributing to the contract costs. The Town assigned a staff member to coordinate this effort.

The adoption of the Countywide Local Roads and Safety Plan (LRSP) will not have a direct fiscal impact on the Town. It will align with the Town's existing Systemic Safety Analysis Report (SSAR) and more than likely create opportunities for future grant funding or collaborative projects with and within the County. The plan's implementation will require ongoing coordination and potential resource allocation, but the specific costs and funding sources will be determined on a project-by-project basis.

ENVIRONMENTAL
The City Council’s action in adopting the resolution is exempt from environmental review under the California Environmental Quality Act (CEQA) pursuant to CEQA Guideline 15306 as information collection or as part of a study leading to an action which a public agency has not yet approved, adopted, or funded. Any future construction improvements will only be considered after a CEQA review has been conducted.

ALTERNATIVES
The City Council could choose not to adopt the resolution. Doing so is not recommended as the opportunity to become eligible for USDOT, Caltrans, and other safety funding opportunities could significantly limit the Town’s access to apply to these funds.

ATTACHMENTS
A. Resolution
B. Final San Mateo Countywide Local Roadway Safety Plan, available on the C/CAG website at: 28717_CCAG-Countywide-LRSP-Countywide-Local-w-appendices_Jun7_2.pdf

Reso 2024-__, Adoption of the Countywide LRSP and Accompanying Vision Zero Goal Page 1 of 3 RESOLUTION NO. 2024-__

OF THE CITY COUNCIL OF THE TOWN OF COLMA

RESOLUTION ADOPTING THE COUNTYWIDE LOCAL ROADWAY SAFETY PLAN AND ACCOMPANYING VISION ZERO GOAL, PURSUANT TO CEQA GUIDELINES 15306 The City Council of the Town of Colma does resolve as follows:

WHEREAS, the City/County Association of Governments of San Mateo County (C/CAG) has identified the San Mateo Countywide Local Roadway Safety Plan (LRSP) as a priority planning effort with countywide significance.

WHEREAS, C/CAG Boad of Directors adopted in June 2024 (Resolution 24-47) the Countywide LRSP and Accompanying Vision Zero Goal.

WHEREAS according to data from the California Strategic Highway Safety Plan, 17,317 people have been killed in traffic collisions in California from 2013 through 2017, for an average of 9.5 people per day; and
WHEREAS, from 2018 to 2022, a reported two crashes resulted in deaths or severe, life-changing injuries on non-freeway roadways in the Town of Colma (Town); and WHEREAS, one death on Town streets is one too many, and Town is dedicated to strategies that aim to reduce and eliminate deaths and serious injuries on streets in all jurisdictions countywide; and
WHEREAS, seniors, children, people of color, people with disabilities, people in low- income communities, people walking, and people bicycling face a disproportionate risk of traffic injuries and fatalities; and
WHEREAS, the City/Town Local Roadway Safety Plan (LRSP) identifies pedestrian and bicyclist safety, nighttime/low light safety, unsignalized intersections on arterial/collector roadways, speed -related roadway crashes, and roadways with posted speeds 35mph or higher as emphasis areas for safety improvement; and WHEREAS, Vision Zero is a public health -based traffic safety strategy to reduce and eventually eliminate traffic deaths and serious injuries using a data -driven, multi- disciplinary, and Safe System approach that also increases safe, healthy, equitable mobility for all; and
WHEREAS, the Safe System Approach recognizes that while human error will always occur, a system of redundant engineering and non -engineering solutions can reduce crashes and can prevent crashes from causing death or severe injuries; and WHEREAS, the Federal Highway Administration has made a commitment to eliminating fatalities and serious injuries on the nation's roadways using a Safe System approach to achieve the goals of Vision Zero; and

ATTACHMENT A
Reso 2024-__, Adoption of Countywide LRSP and Vision Zero Goal Page 2 of 3 WHEREAS, the Federal Highway Administration and State Department of Transportation (Caltrans) grant funding for improving safety requires the preparation and implementation of a systematic approach to improve safety as presented in the Countywide LRSP (Exhibit A); and

WHEREAS, Caltrans has adopted the goal of moving “toward zero deaths” by incorporating the Safe System Approach and using proven effective strategies and countermeasures; and

WHEREAS, the Metropolitan Transportation Commission (MTC) passed a Vision Zero policy in 2020 that identified actions to support agencies like Town of Colma; and

NOW, THEREFORE, BE IT RESOLVED, that Town adopts Vision Zero is its guiding principle for transportation planning, in conjunction with C/CAG adopting this vision at the County level; and

BE IT FURTHER RESOLVED that Town shall pursue the recommended near -and long-term policy, program, and guidelines recommendations identified in the LRSP, with the overriding goal of eliminating traffic-related fatalities and serious injuries; and

BE IT FURTHER RESOLVED that Town shall refer to the prioritized locations in the Countywide LRSP sections when considering safety improvements, which locations were prioritized including considerations of social equity; and

BE IT FURTHER RESOLVED that Town shall participate in an inter -jurisdictional Transportation Safety Advisory Committee (TSAC) led by C/CAG, to include staff from constituent jurisdictions along with partner agencies identified in the LRSP; and which will be used to implement the LRSP and integrate the Safe System approach into all aspects of transportation planning and engineering; and

BE IT FURTHER RESOLVED that Town adopts the Countywide Local Roadway Safety Plan and the Town Local Roadway Safety Plan that summarizes specific recommendations and action items to be taken by Town and partner agencies that will address the listed emphasis areas; and

BE IT FURTHER RESOLVED, that the LRSP will be implemented in an equitable manner, accounting for historic inequities in transportation and safety investments across the county; and

BE IT FURTHER RESOLVED that the Town shall develop an annual update and a 3–5-year report on progress toward the Vision Zero goals, tracking process and outcome metrics, and shall present these updates to the City Council.

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Reso 2024-__, Adoption of Countywide LRSP and Vision Zero Goal Page 3 of 3

Certification of Adoption
I certify that the foregoing Resolution 2024-__ was duly adopted at a regular meeting of said City Council held on October 23, 2024 by the following vote:

Name Voting Present, Not Voting Absent
Aye No Abstain Not Participating
John Irish Goodwin, Mayor
Ken Gonzalez, Vice Mayor
Carrie Slaughter
Helen Fisicaro
Joanne F. del Rosario

Dated ______________________ ___________________________________ John Irish Goodwin, Mayor

Attest: ____________________________
Michelle Estabillo, City Clerk

Ord. No. 824 Council Compensation Page 1 of 3
ORDINANCE NO. 824

OF THE CITY COUNCIL OF THE TOWN OF COLMA
AN ORDINANCE AMENDING SECTION 1.04.010 OF THE COLMA MUNICIPAL CODE,

RELATING TO COMPENSATION OF COUNCIL MEMBERS PURSUANT TO CEQA GUIDELINE 15378
The City Council of the Town of Colma does hereby ordain as follows:

Article 1. FINDINGS
(a) The City Council last updated its compensation in 2018 pursuant to its adoption of Ordinance No. 784 that adjusted the City Council’s compensation from $924 to $961 per month. (b) As it has been six years since the last adjustment in compensation, the City Council considered an adjustment in a study session held at a regular meeting on September 25, 2024. (c) At the study session, the City Council gave direction to potentially adjust the compensation by the fully allowable 30% pursuant to California Government Code Section 36516(a)(4) that allows for a 5% per year increase for six years as November of 2018 is the operative date of the last adjustment).
(d) At the study session, the City Council acknowledged that some councilmembers would be leaving the Council this year, or in future years, and that there was a need to adjust the compensation amount to ensure that new potential councilmembers step forward and that low compensation would not be a deterrent.
(e) Further, since 2018, inflation has increased in the San Francisco Bay Area, with inflation increasing exponentially during the pandemic. For example, in 2018 the inflation rate in California was 2.4% while in 2022 it was 8%.
(f) In short, in an effort to ensure that individuals run for City Council and to ensure that Council compensation increases correspond with inflation and other costs of living, this ordinance has been prepared to allow the City Council to consider an adjustment to Council compensation. (g) The City Council considered this ordinance in open session at two regular City Council meetings held on October 9, 2024 and October 23, 2024 as required by California Government Code Section 36516(g).

Article 2. C
OLMA MUNICIPAL CODE SECTION 1.04.010 AMENDED
Section 1.04.010 of the Colma Municipal Code is amended to read as follows:

ITEM #5
Ord. No. 824 Council Compensation Page 2 of 3

1.04.010 Compensation of City Council Members.

From and after the commencement of the term of office of any council member after the adoption of this ordinance, each member of the City Council shall receive a salary of twelve hundred forty- nine dollars ($1249.00) per month.
[History: formerly § 1.501, ORD. 205, 12/8/76; ORD. 268, 3/10/82; O RD. 299, 7/11/84; ORD. 323, 7/10/85; O RD. 358, 10/14/87; O RD. 392, 7/12/89; O RD. 429, 8/14/91; ORD. 572, 3/8/00; ORD. 620, 9/8/04; ORD 655, 3/14/07; ORD 729, 11/13/13, ORD, 784, 10/24/18; ORD, 824; 10/23/24]
[Reference: GOV’T CODE §36516]
__________________________________________________________________ Article 3. SEVERABILITY.

Each of the provisions of this ordinance is severable from all other provisions. If any article, section, subsection, paragraph, sentence, clause or phrase of this ordinance is for any reason held by a court of competent jurisdiction to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance.

Article 4. NOT A CEQA PROJECT.

The City Council’s decision to increase its salary is exempt from environmental review under the California Environmental Quality Act pursuant to CEQA Guideline 15378 as it is more akin to a government fiscal activity, which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment.

Article 5. EFFECTIVE DATE.

This ordinance shall be posted on the three (3) official bulletin boards of the Town of Colma within 15 days of its passage and is to take force and effect thirty (30) days after its passage. /
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Ord. No. 824 Council Compensation Page 3 of 3
Certification of Adoption

I certify that t he foregoing Ordinance No. 824 was duly introduced at a regular meeting of the City Council of the Town of Colma held on October 9, 2024 and duly adopted at a regular meeting of said City Council held on October 23, 2024 by the following vote:

Name Voting Present, Not Voting Absent
Aye No Abstain Not Participating
John Irish Goodwin, Mayor

Ken Gonzalez, Vice Mayor

Helen Fisicaro, Councilmember

Joanne F. del Rosario,
Councilmember

Carrie Slaughter,
Councilmember

Voting Tally

Dated ______________________ ___________________________________ John Irish Goodwin, Mayor

Attest: ____________________________
Michelle Estabillo, City Clerk

Staff Report - Recreation Quarterly Review, July - September 2024 Page 1 of 2 ta

STAFF REPORT
TO:

Mayor and Members of the City Council
FROM: Angelika Abellana, Recreation Manager
VIA: Dan Barros, City Manager
MEETING DATE: October 23, 2024
SUBJECT: Recreation Services Department Quarterly Review, July - September 2024

RECOMMENDATION
Staff recommends that the City Council adopt:

MOTION TO ACCEPT INFORMATION REPORT ON RECREATION DEPARTMENT PROGRAM, ACTIVITIES, EVENTS AND TRIPS FOR THE THIRD QUARTER OF 2024

BACKGROUND
Participation
The Recreation Services Department offered programs, activities, events, and trips for all age groups during the past quarter. Below is a summary of participation levels by demographic:
• A total of 156 adults and seniors participated in enrichment programs, which is an increase of 25 participants from the third quarter of 2023. Staff attributes this rise in participation to greater interest in the Ladies Social and Friday Films events, as well as an increase in Zumba class attendance.
• A total of 200 adults and seniors participated in trips and events. This represents a decrease of 14 participants from the third quarter of 2023. Staff attributes the decrease in participation to lower attendance at the Veterans Village ID Day. • A total of 2,280 youth and teens participated in enrichment programs, marking an increase of 980 participants from the third quarter of 2023. Staff attributes this growth to the participation in in-person Summer Camp Early and Afternoon Care, as well as increased interest in Parents Night Out.
• A total of 177 youth and teens participated in events and trips, reflecting an increase of 63 participants from the third quarter of 2023. Staff attributes this rise to greater participation in Day Camp special excursion field trips during July and August. • A total of 1,838 youth, adults, and seniors participated in community programs, representing an increase of 570 participants from the third quarter of 2023. Staff ITEM #6
Staff Report - Recreation Quarterly Review, July - September 2024 Page 2 of 2 attributes this rise to family programs such as the Parol Lantern Workshop, Grandparents Day Celebration, and Summer Concerts. Additionally, open pickleball sessions were made available to the public, resulting in a great turnout in the evenings.

T
he attachment contains a detailed breakdown of participation by program.

Rental Activity
The Colma Community Center was rented for 44 different events:
● Resident Rental (15 social, 1 meeting)
● Colma Non-Profit (1 fundraiser)
● Non-Resident Rental (2 funeral)
● Non-Resident Nonprofit (1 training)
● Non-Resident Nonprofit, kitchen only (23 reservations) ● In House Reservations (1 blood drive)
The Sterling Park Recreation Center was rented for 11 different events:
• Sterling Park Resident Rental Reservations – Picnic Site only (1 social event) • Sterling Park Resident Rental Reservations – including Picnic Site (6 social events) • Sterling Park Resident Rental Reservations (4 social events) AN
ALYSIS
In the third quarter of 2024, a total of 4,651 participants attended 51 programs. This represents an increase of 1,619 participants compared to the third quarter of 2023. Staff attributes the increase in participation to the Summer Day Camp, Early/Afternoon Care, and greater involvement in senior trips. Additionally, the rise can be attributed to centennial events such as the Colma Community Fair & Parade and the Annual Town Picnic.

St
aff estimates that 33 percent of the population had a current Colma I.D. during the third quarter of 2023.

There was a total of 55 rentals, which is a decrease of 1 rental from the third quarter of 2023.

Staff attributes the decrease in rentals to the construction of the solar panel carports at the Colma Community Center parking lot, which occupied the first half of the lot.

Sustainability Impact
Staff coordinates and implements programs and activities that align with the Town’s Climate Action Plan and Sustainability Policy. For example, at events including the Annual Town Picnic, cups, plates, forks, knives, and spoons are made from recyclable and/or compostable materials.

CO

NCLUSION
Staff recommends that City Council Adopt the motion to accept informational report on Recreation Department program, activities, events and trip for the third quarter of 2024.

ATTACHMENTS
A. 2024 Recreation Service Department Quarterly Review – Participation Detail Recreation Services Department Quarterly Review
July – September 2024
Participation Detail
Adult/Senior Enrichment Programs
Program Registered Sessions New or Existing
Program
Armchair Travel 21 2 Existing
Boot Camp Fitness 5 2 Existing
Chair Yoga 8 3 Existing
Colma Ladies Social 27 3 Existing
Community and Coffee 13 2 Existing
Friday Films 23 3 Existing
Let’s Get Crafty – Succulents 8 1 NEW
Restorative Yoga 7 1 NEW
Zumba - Tuesday 13 2 Existing
Zumba Gold 15 2 Existing
Zumba Toning – Saturday 16 2 Existing
Adult
& Senior Trips & Events
Program Registered Sessions New or Existing
Program
Adult Cooking Class 9 2 Existing
Breakfast and Bingo 33 3 Existing
Day at the Museum – SF MOMA 15 1 NEW
Giants Game Trip – Adults/Seniors Cancelled 1 NEW
San Francisco Botanical Garden 15 1 NEW
Senior Luncheon 109 3 Existing
Veterans Village Colma ID Day 19 1 Existing
Youth & Teen Enrichment Programs
Program Registered Sessions New or Existing
Program
Carnival Sweet Treats & Jr. Master
Chef – Cooking Camp
Cancelled 1 NEW
Cupcakes Master – Cooking Camp Cancelled 1 NEW
Duo Dance – Ballet, Tap, Jazz & Hip
Hop any level
1 1 Existing
Duo Dance - Intro to Lyrical 1 1 Existing
Duo Dance - Pop Tots/Tween Cancelled 1 Existing
Kids’ Club Afterschool Program 22 4 Existing
Kumon Math Tutoring 16 3 Existing
Kumon Reading Tutoring 15 3 Existing
Open Teen Center 1 1 Existing
Parents Night Out 35 3 Existing
Summer Day Camp 316 3 Existing
Summer Day Camp – Afternoon Care 451 6 Existing
Summer Day Camp – Early Morning
Care
522 6 Existing

ATTACHMENT A
2 Summer Food Program 900 1 Existing

Youth and Teen Events & Trips
Program Registered Sessions New or Existing
Program
Aqua Adventure Trip 38 1 Existing
CuriOdyssey Trip 44 1 NEW
Day at the Beach – Teen Trip Cancelled 1 NEW
Dessert and Arts & Crafts 2 1 Existing
Exploratorium – Day Camp 43 1 Existing
Lego Discovery Center 45 1 NEW
SF Giants Game – Teen Trip 5 1 Existing

Community Programs
Program Registered Sessions New or Existing
Program
2nd Harvest Food Pantry Delivery
Program
65 1 Existing
Cab Connect 6 1 Existing
Cinema at the Cemtery 250 1 Existing
Colma Clean Up 7 1 Existing
Colma Community Fair 550 1 Existing
Family Movie Night 60 1 NEW
Grandparents Day Celebration 40 1 Existing
Parol Lantern Workshop 38 1 Existing
Pickleball 21 1 NEW
Summer Concert Series 530 2 Existing
Town Picnic 243 1 Existing
Wicked 28 1 NEW

City Council Staff Report – Home Depot Parking Variance Page 1 of 4

STAFF REPORT
TO
: Mayor and Members of the City Council
FROM: Farhad Mortazavi, City Planner
VIA: Daniel Barros, City Manager
MEETING DATE: October 23, 2024
SUBJECT: Home Depot Parking Variance
REC

OMMENDATION
Staff recommends that the City Council adopt the following:

RESOLUTION AMENDING RESOLUTION NO. 97 -01 APPROVING A PARKING VARIANCE FOR AN EXISTING COMMERCIAL USE LOCATED AT 2 COLMA BOULEVARD AND FINDING

THE PROJECT EXEMPT FROM ENVIRONMENTAL REVIEW PURSUANT TO CEQA GUIDELINE 15301 - APN: 008-322-550

COUNCIL ADOPTED VALUES
The discussion of Home Depot parking variance is consistent with the Council values of responsibility because it gathers information and considers actions pertaining to safety and economic development of the city, and vision because it looks to the future when making decisions.

BAC

KGROUND
The Home Depot Use Permit was approved by the council on November 1, 1990 (Resolution 90- 77) and a parking variance to reduce the required number of parking by 31 spaces approved by the council on December 11, 1996 (Resolution 97-01). The project site is 8.79 acres and was formerly used as a sanitary landfill. The site was stabilized by a crib wall around most of the site perimeter with importation of fill to condense the earth over the former landfill. The existing parking structure is experiencing structural issues due to settlement of the compacted landfill.

The applicant is requesting a Variance to allow the reduction of parking spaces from the existing 446 spaces to 309 spaces due to the issues with the parking structure. The parking structure is proposed to be removed if the variance application is approved.

ITEM #7

City Council Staff Report – Home Depot Parking Variance Page 2 of 4

ANALYSIS

The Home Depot Improvement store includes a 93,000 square foot retail space and a 16,600 square foot outdoor garden center. The submitted parking study, utilizing a typical Saturday during the summer season (July 27, 2024), indicates that at the busiest time of the parking occupancy count - at 2:00 PM - 168 parking spaces (or 58 percent) were occupied. In addition, and in regard to the second floor of the parking structure utilization, historical data of the top floor of the structure with a total of 132 stalls indicates eight vehicles were counted in March 2019, 21 vehicles were counted in May 2022, and 24 vehicles were counted in 2024 aerial photo: indicating the lack of utilization of the parking structure - this is with the consideration that the rear (north) side portion of the parking structure, where the surface parking is accounted for 52 stalls, only 3 cars were counted in 2024 aerial photo.

The applicant is proposing to remove the parking structure through the process and approval of the variance application by providing 309 newly configured parking stalls (the state mandated stormwater treatment requires 4 percent of the new surface parking lot, or 4,320 square feet, to be dedicated as part of the new parking lot design), reducing the number of total parking by 137 parking spaces, while providing the parking study supporting the reduction proposal as only 168 stalls were utilized at the busiest time of summer shopping season where the new parking design provides for 309 stalls. As indicated, the applicant is requesting a variance to allow the reduction of parking spaces from the existing 446 spaces to 309 spaces.

Variance Findings

1. Special circumstances apply to the property, including size, shape, topography, location, or surroundings, that deprive the property of privileges enjoyed by other properties in the vicinity and under identical zoning classification.

The property is developed on top of a landfill and a major settlement has taken place at the easterly location of the parking structure and it is to be removed due to public safety.

There are no other parcels that exist around the property for expansion of the surface parking in addition to an extreme slope west and south of the property for the surface parking expansion.

Therefore, the actuality that the property is developed on top of a landfill, the lack of available land, and extreme slope to the west and south of the property for the expansion of the surface parking, has created a special circumstance applied to the property – shape, topography, location, surroundings – resulting a situation where the strict application of the zoning ordinance, Colma Municipal Code Subsection 5.03.133(c)(3) of the newly adopted Zoning Code Update, deprives the applicant of privileges enjoyed by other property in the vicinity and under identical zoning classification.

2. Granting the Variance will not constitute a grant of special privileges inconsistent with the limitations upon other properties in the vicinity and zone in which such property is situated.

In addition to the special circumstances applied to the property as described above, a parking variance was granted in 1993 to Target, adjacent and south of the subject property, with the same zoning classification (“C”, Commercial) as the subject property.

City Council Staff Report – Home Depot Parking Variance Page 3 of 4 Therefore, granting the variance does not constitute grant of special privileges in consistent with the limitations upon other properties in the vicinity and zone in which such property is situated.

3. Conditions will be imposed to protect the public health, safety, and welfare in accordance with the purposes and intent of the General Plan.

The applicant is proposing to remove the parking structure once the Variance is permitted, in line with protection of the public health, safety and welfare in accordance with the purpose and intent of the Colma General Plan 2040, adopted in March 2023.

REASON FOR RECOMMENDED ACTION
Staff recommends the City Council approve the Variance as the property at issue has special circumstances and would not constitute a grant of a special privilege as detailed above in the variance findings. Further, staff recommends Council approve the variance so that the parking structure can be removed considering the historical data for the lack of utilization of the parking structure, and the parking study indicating the efficiency of the surface parking for the most extreme usage by the Home Depot Improvement center patrons.

SUSTAINABILITY IMPACT

Adoption of the Resolution will improve sustainability by allowing the subsequent removal of a parking structure in line with the purpose and intent of the Colma General Plan.

FISCAL IMPACT

None. There is no fiscal impact related to the Home Depot Parking Variance.

ENVIRONMENTAL

As Lead Agency for approval of the permit under CEQA, the Town of Colma finds the project is Categorically Exempt under CEQA, California Code of Regulations Section 15301, Class 1, Existing Facilities - minor alteration of existing public or private structures. Further, no exception to the categorical exemption applies. Notably, there are no unusual circumstances that apply to the project.

ALTERNATIVES

Available alternative actions to the City Council:

A. Approve the Variance with recommended conditions.

B. Modify or add conditions.

C. Deny the Variance request.

City Council Staff Report – Home Depot Parking Variance Page 4 of 4

CONCLUSION

Staff recommends the City Council adopt the resolution approving the parking variance.

ATTACHMENTS
A. Resolution
B. Parking Variance Site Plan
C. Parking Study

Resolution 2024-__, Home Depot Parking Variance Page 1 of 5 RESOLUTION NO. 2024-

OF THE CITY COUNCIL OF THE TOWN OF COLMA
RESOLUTION AMENDING RESOLUTION NO. 97 -01 APPROVING A PARKING VARIANCE FOR AN EXISTING COMMERCIAL USE LOCATED AT 2 COLMA

BOULEVARD AND FINDING THE PROJECT EXEMPT FROM ENVIRONMENTAL REVIEW PURSUANT TO CEQA GUIDELINE 15301 - APN: 008-322-550 The City Council of the Town of Colma hereby resolves:

1. Background
(a) The Home Depot Use Permit was approved by the council on November 1, 1990 (Resolution 90-77) and a parking variance to reduce the required number of parking by 31 spaces approved by the council on December 11, 1996 (Resolution 97-01). (b) The project site is 8.79 acres and was formerly used as a sanitary landfill. The site was stabilized by a crib wall around most of the site perimeter with importation of fill to condense the earth over the former landfill.
(c) The existing parking structure is having ongoing issues due to settlement of the compacted landfill.
(d) The applicant is requesting a variance to allow the reduction of parking spaces from the existing 446 spaces to 309 spaces due to the issues with the parking structure, to be scheduled for removal for public safety, if the variance application is approved.

2. Findings
The City Council finds as follows:
(a) The rec itals set forth above are true and correct and are incorporated into this Resolution by reference.
(b) The property is developed on top of a landfill and a major settlement has taken place at the easterly location of the parking structure and it is to be removed due to public safety, while replacing the structure on the compacted landfill is not recommended.
(c) T
here are no other parcels that exist around the property for expansion of the surface parking in addition to an extreme slope west and south of the property for the surface parking expansion. Therefore, the fact that the property is developed on top of a landfill, the lack of available land, and extreme slope to the west and south of the property for the expansion of the surface parking, has created a special circumstance applied to the property – shape, topography, location, surroundings – resulting in a situation where the strict application of the zoning ordinance, Colma Municipal Code Subsection 5.03.133(c)(3), deprives the applicant of privileges enjoyed by other property in the vicinity and under identical zoning classification.

ATTACHMENT A
Resolution 2024-__, Home Depot Parking Variance Page 2 of 5 (d
) A parking variance was granted in 1993 to Target, adjacent and south of the subject property, with the same zoning classification (“C”, Commercial) as the subject property. Therefore, granting the variance does not constitute grant of special privileges inconsistent with the limitations upon other properties in the vicinity and zone in which such property is situated.
(e) The applicant is proposing to remove the parking structure once the variance is approved, in line with protection of the public health, safety and welfare in accordance with the purpose and intent of the Colma General Plan 2040, adopted in March 2023.

3. Conditions of Approval
1 ) The parking structure demolition will commence only aft er the signed agreement by the property owner and the permittee, outlined at the end of this resolution. 2) T
his approval applies specifically to the project plans submitted to the Planning Department dated August 16, 2024, and resubmitted on September 25, 2024. All plans submitted for permits and subsequent construction, operation, and use on the site shall be in substantial compliance with these documents, subject to the changes and conditions set out herein. The Variance is valid for one year and will expire on October 23, 2025, if substantial progress for implementation of the new parking design has not been made.
3) The Permittee shall obtain all necessary permits, including building and fire permits. 4) All plans and documents must be stamped and signed by all design professionals. 5) All work must comply with the most recent California Building Code edition. 6) ADA improvements must comply with the California Building Code requirements. 7) All construction work must comply with 2023 California Building Code, 2023 California Mechanical Code, and 2023 California Fire Code. 8) Per Colma Municipal Code 5.04.220(c), Standard Hours of Construction, within a radius of 500 feet of any residential unit, construction related work including truck hauling is limited to Monday to Friday from 8:00 AM to 7:00 PM, Saturday, 9:00 AM to 5:00 PM, and Sunday from 12:00 PM to 5:00 PM.
9) Prior to the end of each workday during construction, the contractor or contractors shall pick up and properly dispose of all litter resulting from or related to the project, whether located on the property, within the public rights-of-way, or properties of adjacent neighbors.

Resolution 2024-__, Home Depot Parking Variance Page 3 of 5 10) The requirements of the Colma Fire Protection District shall be met prior to the issuance of building permit(s) for the project. For further information on the requirements of the District, the applicant may contact the Deputy Fire Marshall, Bill Pardini at [email protected] or (650)740-2023.
11) This variance shall run with the land and be freely and automatically transferred to each user of the property described herein, subject to each of the specific and general conditions herein. As used in this permit, the word “Permittee” shall mean each person using the property pursuant to the permit granted herein, including successors to the person first obtaining the permit.
12) The Permittee must comply with all applicable federal, state and municipal laws, codes and regulations, including the California Building and Fire Codes. Nothing herein shall be construed as authorizing any approvals under, or any exceptions to any other law, code or regulation, or as authorizing any change to the occupancy classification of the premises or any buildings thereon as defined on the California Building Code. Without limiting the generality of the foregoing, and 13) Indemnification. Permittee and its heirs, successors, and permitted assigns shall, at its sole cost and expense, indemnify, defend, protect, release, and hold harmless the Town and any agency or instrumentality thereof, including any of its officers, employees, commissions, and agents (collectively, “Indemnitees”), from and against any and all claims, actions, or proceedings (collectively, “Claims”) arising out of or in any way relating to the processing and/or approval of this Project, the purpose of which is to attack, set aside, void, or annul the approval of this Project and any environmental determination that accompanies it. This indemnification shall include, but not be limited to, suits, damages, judgments, costs, expenses, liens, levies, attorney fees or expert witness fees that may be asserted or incurred by any person or entity, including the Permittee, third parties and the Indemnitees, arising out of or in connection with the approval of this Project and/or any environmental determination that accompanies it. Permittee agrees to pay directly, or timely reimburse on a monthly basis, the Town for all such costs of defense, including but not limited to, court costs, attorney fees, and time referenced herein. The Town, in its sole and absolute discretion, may elect, and the Applicant hereby agrees, to have the Applicant provide the defense of the Indemnitees subject to the Town’s approval of defense council. Nothing herein shall prohibit the Town from participating in the defense of any claim, action, or proceeding. Permittee’s defense and indemnification of the Indemnitees as set forth herein shall remain in full force and effect throughout all stages of any litigation challenging the Project, including any and all appeals of any lower court judgments rendered in the proceeding. 14) The Permittee must agree to comply with every term and condition herein by countersigning a copy of this approval.

Resolution 2024-__, Home Depot Parking Variance Page 4 of 5 Ce
rtification of Adoption
I certify that the foregoing Resolution No. 2024- was duly adopted at a regular meeting of said City Council held on October 23, 2024, by the following vote:

Name Voting Present, Not Voting Absent
Aye No Abstain Not Participating
John Irish Goodwin, Mayor
Ken Gonzales
Carrie Slaughter
Helen Fisicaro
Joanne F. del Rosario
Voting Tally
Da
ted ______________________ ___________________________________ John Irish Goodwin, Mayor
Attest: ____________________________
Michelle Estabillo, City Clerk
Resolution 2024-__, Home Depot Parking Variance Page 5 of 5 NOTI

CE OF RIGHT TO PROTEST
The Conditions of Project Approval set forth herein include certain fees, dedication requirements, reservation requirements, and other exactions. Pursuant to Government Code Section 66020(d)(1), these Conditions constitute written notice of a statement of the amount of such fees, and a description of the dedications, reservations, and other exactions. You are hereby further notified that the 90-day approval period in which you may protest these fees, dedications, reservations, and other exactions, pursuant to Government Code Section 66020(a), began on the date of adoption of this approval. If you fail to file a protest within this 90-day period complying with all of the requirements of Section 66020, you will be legally barred from later challenging such exactions.

AGREEMENT
Property Owner of 2 Colma Boulevard
The undersigned agrees to use the property on the terms and conditions set forth in this approval.

Dated:

Name (printed)
For: Property Owner, 2 Colma Boulevard
Permittee of 2 Colma Boulevard
The undersigned agrees to use the property on the terms and conditions set forth in this approval.

Dated:

For: Permittee, 2 Colma Boulevard

25.0' 15.0'15.0' 26.0'26.0'

9.0'

19.0'

9.0'

19.0'

9.0'

19.0'

9.0'

19.0'

25.0'

26.0'
EVA

30.0'

15.0'

15.0'
50 STALLS
42 STALLS (+4 ADA)
7 STALLS
13 STALLS
17 STALLS 24 STALLS
24 STALLS
22 STALLS
24 STALLS
5 STALLS
39 STALLS (+4 ADA)

26.0'
EVA

30.0'
EVA
34 STALLS
(SEASONAL STAGING)

12.0'
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EXISTING PARKING (APPROX)

EAST WEST ROOF DECK TOTAL
79 200 129 408
0 ADA 9 ADA 2 ADA 11 ADA

FUTURE PARKING

EAST WEST SEASONAL TOTAL
75 192 34 301
0 ADA 8 ADA 0 ADA 8 ADA
0September 18, 2024
NORTH20 40 80 120Parking Test Fit 1
Allocation for
Bike Storage
Striped Clean
Air/EV Parking
Staging/Cart
Return Areas
Preserve Fire
Pump Room
Christmas
Tree Lot

ATTACHMENT B
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2022 CALIFORNIA BUILDING CODE
TABLE 11B-208.2 PARKING SPACES

TOTAL NUMBER OF MIN

IMUM NUMBER OF
..

PARKING SPACES PROVIDED REQUIRED ACCESSIBLE

IN PARKING FACILITY PARKING SPACES
1 TO 25 1
26 TO 50 2
51 TO 75 3
76 TO 100 4
101 TO 150 5
151 TO 200 6
201 TO 300 7
301 TO 400 8
40 1 TO 500 9
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kimley-horn.com 4637 Chabot Drive, Suite 300, Pleasanton, CA 94588 925 398 4840 September 26, 2024
Heather Torres
Senior Construction Manager
Realty Income
RE: Colma Home Depot – Parking Letter
Dear Ms. Torres,
Realty Income Corporation (Client) is proposing changes to the parking inventory for the existing Home Depot located at 2 Colma Boulevard in Colma, California. Since this would result in a reduction in parking supply that is less than the Town of Colma’s parking requirement, the Client is seeking a parking variance. A parking study was completed to determine whether adequate parking spaces will be available after the parking structure is demolished and a modified surface parking lot remains. This memorandum includes the data collection and results of a parking analysis to determine if there will be adequate parking with the proposed project.

Background
The Colma Home Depot (Project) is located on the southwest corner of Colma Boulevard and Junipero Serra Boulevard in Colma, California. Home Depot owns the parking area adjacent to the building as shown in Figure 1. Parking consists of surface lots surrounding the building and a two- story parking garage. It is proposed that the parking structure (Designated as Zones 4 and 5 in the parking study) be demolished and repaved as a surface level parking lot. The top level of the parking structure has 131 parking spaces.

Parking Variance
The project is seeking a parking variance for the project site because the removal of the parking structure would result in the project site having fewer parking spaces than required by the Town Municipal Code. The existing parking on-site includes a total of 446 parking spaces. The top level of the parking structure includes a total of 131 parking spaces. Therefore, if the parking structure were removed and no other modifications were completed for the existing parking lot, this would result in 315 parking spaces. Kimley-Horn has prepared a site plan to show the removal of the parking structure, in addition to modifications to the surface parking lot to improve site circulation and flow.

With these modifications, the parking lot would provide 309 parking spaces. It should be noted that the 309 parking spaces includes employee parking spaces and spaces already removed for shopping cart corrals. Therefore, the project is seeking a parking variance for 309 parking spaces.

It should be noted that there is the potential for fewer parking spaces to be provided for two (2) reasons:

1. C.3 Stormwater Treatment: The project may be required to provide additional area for stormwater treatment and this would require the project to reduce the parking supply. This is estimated to be a 25-parking space reduction.

ATTACHMENT C
Kimley>>> Horn

kimley-horn.com 4637 Chabot Drive, Suite 300, Pleasanton, CA 94588 925 398 4840 Figure 1: Parking Area Map
Source: Google Maps

2. Special Events Staging: The project may need to accommodate Christmas Tree staging during the holidays or other special events staging, which would reduce the parking supply.

This is estimated to be a 34-parking space reduction, but would be a temporary reduction.

Therefore, if the proposed 309 parking spaces for the project site were to be reduced due to the reasons above, this could potentially reduce the parking supply to 250 parking spaces. To determine if the project site would have adequate parking spaces to accommodate the parking demand for the Home Depot store, a parking study was completed.

Parking Study
A parking study was completed for the project to determine if the Home Depot would have sufficient parking for a reduced parking supply. The following describes the methodology, analysis, and results.

Kimley>>> Horn

kimley-horn.com 4637 Chabot Drive, Suite 300, Pleasanton, CA 94588 925 398 4840

DATA COLLECTION
The parking occupancy data was collected on Saturday, July 27, 2024. The survey was conducted from 6:00 AM to 10:00 PM at one-hour intervals and avoided major holidays and inclement weather.

No other days were collected because a typical Saturday during the summer season is expected to have the highest parking demand. Institute of Transportation Engineers (ITE) Parking Generation Manual, 6th Edition data for a home improvement superstore (land use code 862) shows the following average parking rates by day:
· Monday-Thursday: 0.93 parking spaces per 1,000 square feet gross floor area · Friday: 2.30 parking spaces per 1,000 square feet gross floor area · Saturday: 3.24 parking spaces per 1,000 square feet gross floor area · Sunday: 2.32 parking spaces per 1,000 square feet gross floor area As shown, the Saturday parking generation rate is the highest of any day of the week. Therefore, no other days were collected. The parking space type was also recorded (e.g., regular parking space, handicap parking space, loading space, pro parking, and veteran parking space).

To further refine the parking occupancy, the parking lot was divided into five (5) subareas as shown in Figure 1.

1. Zone #1 – Surface Parking Lot (North)

2. Zone #2 – Surface Parking Lot (East)

3. Zone #3 – Surface Parking Lot (South)

4. Zone #4 – Parking Garage Lower Level

5. Zone #5 – Parking Garage Upper Level
In addition to the parking occupancy data, Home Depot provided in-store transaction data to provide a larger sample size to supplement the parking counts. The in-store transaction data was provided for January 2021 through Week 30 of 2024 and separated by week.

EXISTING PARKING SUPPLY
As part of the parking study, the number of parking spaces within each subarea were confirmed in the field and summarized in Table 1. There is a total of 446 spaces, which consists of 416 regular parking spaces and 30 other parking space designations. Due to construction, Zones 1, 4, and 5 have a number of inaccessible spaces, which results in a total of 292 available parking spaces.

Kimley>>> Horn

kimley-horn.com 4637 Chabot Drive, Suite 300, Pleasanton, CA 94588 925 398 4840 Table 1: Existing Parking Inventory by Parking Area
Parking
Area
Parking Space Type Total
Parking
Spaces
Available Parking
Spaces Due to
ConstructionRegular Handicap Veteran Pro
Parking Loading
Zone 1 56 - - - - 56 41
Zone 2 68 - 3 - - 71 71
Zone 3 28 - - 11 1 40 40
Zone 4 135 13 - - - 148 76
Zone 5 129 2 - - - 131 64
Total 416 15 3 11 1 446 292

PARKING OCCUPANCY
Existing Parking Occupancy
Based on the collected parking counts and parking inventory data, the percent occupancy was calculated and summarized in Table 2. It should be noted that the parking occupancy data in Table 2 is reflective of available spaces occupied by a vehicle and not total parking inventory.

As shown in Table 2 , the existing peak parking occupancy occurs at 2:00 PM with 168 parking spaces occupied, or 58 percent of the available parking spaces occupied. Parking counts are included in Attachment A. It should be noted that the parking occupancy data includes all vehicles, including employee parking.

Supplementing the parking occupancy data with the in-store transaction data provides a larger sample size for the parking analysis. The parking occupancy data was collected on July 27, 2024, or Week 30 of 2024. When comparing Week 30 of 2024’s in-store transaction data to every other week in 2024, Week 30 has the highest in-store transaction data in 2024. The Week 30 of 2024 in-store transaction data was also compared to the highest in-store transaction data from 2021, 2022, and 2023. The highest in-store transaction data is from Week 20 of 2021. Therefore, by developing a ratio of the peak in-store transactions from Week 20 of 2021 to Week 30 of 2024, we get a ratio of

1.211. And then applying this ratio to the peak parking demand that was observed in Week 30 of 2024, we get an adjusted peak parking occupancy of 204 parking spaces. See Attachment B for a graphical representation of the in-store transaction data.

Kimley>>> Horn

kimley-horn.com 4637 Chabot Drive, Suite 300, Pleasanton, CA 94588 925 398 4840 Table 2: Existing Parking Occupancy
Note: Percent occupancy is based on available parking spaces. Peak parking occupancy is shown in bold and shaded. 1Available parking spaces due to construction activities at the time the counts were collected.

Zone Zone 1 Zone 2 Zone 3 Zone 4 - Ground
Level
Zone 5 - Elevated
Level
Total Parking
Spaces
Percent
Occupied
Space Type Regular Regular Veteran Regular Pro
Parking Loading Regular Handicap Regular Handicap Occupied Spaces
Total Parking
Spaces 56 68 3 28 11 1 135 13 129 2 446
Available
Parking
Spaces1
41 68 3 28 11 1 71 5 62 2 292
6:00 AM 0 10 0 4 4 1 11 1 6 0 37 13%
7:00 AM 0 11 2 5 8 1 13 1 7 0 48 16%
8:00 AM 1 14 2 5 10 1 26 2 9 0 70 24%
9:00 AM 1 36 2 10 8 1 25 4 7 0 94 32%
10:00 AM 1 42 2 8 11 1 23 3 8 0 99 34%
11:00 AM 6 39 3 11 10 1 49 4 13 0 136 47%
12:00 PM 4 62 3 7 7 1 43 5 12 0 144 49%
1:00 PM 1 57 3 11 11 1 55 4 19 0 162 55%
2:00 PM 7 61 1 11 10 1 58 4 14 1 168 58%
3:00 PM 4 52 1 11 10 0 56 4 13 0 151 52%
4:00 PM 3 60 2 11 9 0 47 4 12 0 148 51%
5:00 PM 2 58 2 11 11 0 39 5 15 0 143 49%
6:00 PM 2 55 2 7 10 0 31 4 13 0 124 42%
7:00 PM 0 56 2 6 8 0 24 3 10 0 109 37%
8:00 PM 0 30 1 4 10 1 21 3 6 0 76 26%
9:00 PM 0 23 0 4 8 0 11 0 4 0 50 17%
Kimley>>> Horn

kimley-horn.com 4637 Chabot Drive, Suite 300, Pleasanton, CA 94588 925 398 4840 Proposed Parking Occupancy
The project is proposing to remove the parking garage and redesign the surface parking lot. The redesigned site can accommodate up to 309 parking spaces. As mentioned previously, the project may also reduce the parking spaces by 25 parking spaces to accommodate C.3 stormwater treatment and another 34 parking spaces for special event staging. This could potentially reduce the parking supply to 250 parking spaces provided. It was also assumed that the parking demand for the Home Depot store would not change with the proposed Project because the Project would not create any additional demand since the building square footage will remain the same.

The parking occupancy percentages using the 250 parking were calculated and are summarized in Table 3. With a reduction in parking supply to 250 parking spaces, the peak parking occupancy still occurs at 2:00 PM with 168 parking spaces occupied or 71 percent occupancy. With a total minimum parking supply of 250 parking spaces, a peak parking demand of 168 parking spaces would result in 82 unoccupied spaces. With the proposed parking spaces and the potential for reductions due to C.3 stormwater treatment and special event staging, the project would still provide significantly more parking spaces than the current parking demands of the Home Depot store.

Alternatively, by considering the peak parking from 2021 to 2024, the adjusted peak parking demand is 204 parking spaces. The 204 peak parking spaces would still be accommodated by the minimum 309 parking spaces proposed and even with the reduced 250 parking spaces if C.3 stormwater treatment and special event staging further reduced the parking spaces provided.

Table 3: Existing Vs Proposed Parking Occupancy
Note: Percent occupancy is based on available parking spaces. Peak parking occupancy is shown in bold and shaded.

Time
Existing Proposed (with C.3 and staging reductions)
292 Available Spaces 250 Available Spaces
Occupied Spaces Percent Occupied Occupied Spaces Percent Occupied 6:00 AM 37 13% 37 15%
7:00 AM 48 16% 48 19%
8:00 AM 70 24% 70 28%
9:00 AM 94 32% 94 38%
10:00 AM 99 34% 99 40%
11:00 AM 136 47% 136 54%
12:00 PM 144 49% 144 58%
1:00 PM 162 55% 162 65%
2:00 PM 168 58% 168 67%
3:00 PM 151 52% 151 60%
4:00 PM 148 51% 148 59%
5:00 PM 143 49% 143 57%
6:00 PM 124 42% 124 50%
7:00 PM 109 37% 109 44%
8:00 PM 76 26% 76 30%
9:00 PM 50 17% 50 20%
Kimley>>> Horn

kimley-horn.com 4637 Chabot Drive, Suite 300, Pleasanton, CA 94588 925 398 4840

CONCLUSIONS
The Home Depot in Colma is proposing changes to the existing parking inventory that would reduce the total parking supply from 446 parking spaces to 309 parking spaces. The Client is requesting a parking variance for 309 parking spaces. However, the parking supply may be further reduced to 250 parking spaces to account for additional C.3 stormwater treatment (25 parking spaces reduced) and for special event staging (34 parking spaces reduced). A parking study was conducted to show that the existing parking demand could still be accommodated by the 309 parking spaces and even the 250 parking spaces.

For the parking study, hourly parking counts were collected on Saturday, July 27, 2024 from 6:00 AM to 10:00 PM. Based on the parking survey, the parking occupancy was calculated and the existing peak parking occurs at 2:00 PM with 168 parking spaces occupied or a 58 percent occupancy (this includes employee parking). Supplementing the parking data with in-store transaction data from 2021 through Week 30 of 2024, shows that the maximum in-store transactions is 23,868 in-store transactions in Week 20 of 2021. Comparing this to Week 30 of 2024, which is when the parking occupancy data was collected, it shows that the peak in-store transactions is 1.211 times higher.

Applying this ratio to the peak parking occupancy of 168 parking spaces results in an adjusted peak parking demand of 204 parking spaces. The 204 parking space demand is well below the proposed 309 parking spaces for the project. In addition, the 204 parking space demand is also below the 250 parking spaces provided if additional C.3 stormwater treatment and special event staging were to reduce the parking spaces. Therefore, the project’s request for a parking variance to provide 309 parking spaces should accommodate the existing Home Depot parking demand.

Sincerely,
Ben Huie, P.E.

California Professional Engineer #C76682
Kimley>>> Horn

kimley-horn.com 4637 Chabot Drive, Suite 300, Pleasanton, CA 94588 925 398 4840 Attachments:

Attachment A: Saturday, July 27, 2024 Parking Survey Counts Attachment B: In-store Transaction Data
Kimley>>> Horn
Project ID: 24-080191 Date: 7/27/2024
City: Colma, CA Day: Saturday
Lot Space Type Spaces 6:00 AM 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM 9:00 PM Zone 1 Regular 56 0 0 1 1 1 6 4 1 7 4 3 2 2 0 0 0
Regular 68 10 11 14 36 42 39 62 57 61 52 60 58 55 56 30 23 Veteran 3 0 2 2 2 2 3 3 3 1 1 2 2 2 2 1 0
Regular 28 4 5 5 10 8 11 7 11 11 11 11 11 7 6 4 4
Pro Parking 11 4 8 10 8 11 10 7 11 10 10 9 11 10 8 10 8 Loading 1 1 1 1 1 1 1 1 1 1 0 0 0 0 0 1 0
Regular 135 11 13 26 25 23 49 43 55 58 56 47 39 31 24 21 11 Handicap 13 1 1 2 4 3 4 5 4 4 4 4 5 4 3 3 0
Regular 129 6 7 9 7 8 13 12 19 14 13 12 15 13 10 6 4
Handicap 2 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0
Notes : Inaccessible spaces are included in inventory counts.

Zone 1 (Regular) - 15 spaces inaccessible due to construction; 6 spaces taken by equipment (excluded in the occupancy counts).

Zone 4 (Regular) - 64 spaces inaccessible due to construction.

Zone 4 (Handicap) - 8 spaces inaccessible due to construction.

Zone 5 (Regular) - 67 spaces inaccessible due to construction.

Zone 3
Zone 4 - Ground
Level
Zone 5 - Elevated
Level
Parking Study
Prepared by National Data & Surveying Services
Zone 2
1 2 3 4 5 6 7 8 9 1 01 11 21 31 41 51 61 71 81 92 02 12 22 32 42 52 62 72 82 93 03 13 23 33 43 53 63 73 83 94 04 14 24 34 44 54 64 74 84 95 05 15 2 # o f T r a n s a c t i o n s
Week #
Home Depot Transactional Data - 2021 -2024
2021
2022
2023
2024
Peak Transactions - Week 20 of 2021
Parking Occupancy Collected -
Week 30 of 2024
----
Staff Report Auditor’s Report FY 22-23 Page 1 of 5

STAFF REPORT
TO: Mayor and Members of the City Council
FROM: Renee Eshun, Administrative Services Director
VIA: Dan Barros, City Manager
MEETING DATE: October 23, 2024
SUBJECT: FY 2022-23 Audited Financial Statements and Reports

RECOMMENDATION
Staff recommends that the City Council adopt:

RESOLUTION ACCEPTING AUDITOR’S REPORTS AND FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDING JUNE 30, 2023, PURSUANT TO CEQA GUIDELINE 15378

COUNCIL ADOPTED VALUES
Approval of the attached resolution is consistent with the Council’s core value of responsibility because the annual audit process provides an objective, expert assessment of the Town’s financial condition and financial reporting process.

BACKGROUND
The Town’s financial statements are prepared in accordance with the generally accepted accounting principles (GAAP) and reporting requirements of the Governmental Accounting Standard Board (GASB).

For Fiscal Year ending June 30, 2023, the Town engaged O’ Connor & Company formerly R.J.

Ricciardi, CPA to conduct an independent audit and review of the Town’s financial statement for the fiscal year ending June 30, 2023. The audit includes the agreed-upon procedures, review, and audit of various reports. The Auditor’s opinion on the following reports are attached as B through F.

The Basic Financial Report for FY 2022-23,
Management Report for FY 2022-23,
Measure A Fund Component Unit Financial Statements for FY 2022-23, ITEM #8
•
•
•
Staff Report Auditor’s Report FY 22-23 Page 2 of 5
Me asure W Fund Component Unit Financial Statements for FY 2022-23, and A ppropriations Limit Calculation for FY 2022-23.

A representative from the firm will be at the Council meeting to present the audit and answer any questions the Council may have.

ANALYSIS
Overall, the Town received a “clean” audit for FY 2022-23 with no adverse findings or recommendations. As part of the audit, O’ Connor and Company also assessed the Town’s internal control and noted in Attachment C, FY 2022-23 Management Reports that they did not find any observations. The auditors recommend the Town consider formalizing a capitalization policy for leases and subscription arrangement liabilities and the right to use assets over $40,000. Also, keeping lease terms to month-to-month or annual leases whenever possible.

FY 2022-23 Audited Financial Report
The FY 2022-23 Audited Financial Report is organized in four main sections, see below. All sections have been prepared in accordance with Generally Accepted Accounting Principles (GAAP) and relevant rules established by the Governmental Accounting Standard Board (GASB).

Introductory Section has the Table of Contents, Town Officials, and Town Organization Chart. The FY 2022-23 Financial Report does not include a transmittal letter, as it is embedded in the MD&A.

Financial Section contains the Independent Auditors’ Report, Management’s Discussion & Analysis (MD&A), Basic Financial Statements, and Notes to Basic Financial Statements. (p. 1-2) summarizes the auditors’ responsibility regarding the financial statements, their audit opinion, and other matters and information in the Financial Report. As stated above, the Town received a “clean” audit for FY 2022-23. (p. 3-9) provides highlights on the Town’s financial
condition, overall economic conditions, and a FY 2022-23 Budget overview. (p. 10-17) presents the Town’s FY 2022-23 finances as dictated by GAAP. This section begins with Governmental-Wide financial statements (p. 10-11) where the financial information within the Fund Financial statements (p. 12-17) are consolidated and adjusted in accordance with GAAP. Reconciliations from the Fund level to Governmental-Wide level can be found on page 14. Additional information on Governmental-Wide and Fund Financial Statements can be found on page 18 (NOTE 1B).

The Fund Financial Statements also presents General Fund, Capital Projects Fund and Town Hall Certificate of Participation (COP) funds as Major Funds. Non-major funds are combined and presented as “Other Governmental Funds” (p. 12-13) and in the Supplemental Information Section (p. 50-51).
•
•
Independent Auditors' Report
Management Discussion & Analysis {MD&AJ
Basic Financial Statements
Staff Report Auditor’s Report FY 22-23 Page 3 of 5
(p. 18-41) provides additional information about the
Basic Financial Statements. This includes explanation of the basis of accounting and various accounting terms. It also includes debt schedules, background information on pension and OPEB, and other pertinent information needed to understand the Basic Financial Statements.

Required Supplemental Information includes General Fund budgetary comparison (p. 42), Pension and OPEB schedules (p. 43-49), and Balance Sheet and Schedule of Revenues, Expenditures and Changes in Fund Balance for non-major governmental funds (p. 50-51).

Key Notes and Changes
Town Hall Renovation Project Financing
On September 24, 2015, the Town completed a Certificates of Participation (COP) financing of $5.3 Million to fund a portion of the Town Hall Renovation Project. The proceeds from this financing were placed in a separate fund. The net liability as of June 30, 2023, in this fund was $4,295,000. (See Note 4E pages 30-31).

Retirement Liabilities
This is the ninth year of the requirement to incorporate additional information on retirement plan liabilities as required by Government Accounting Standards Board (GASB) statement No.

68. (See Note 5C on pages 31-36). As shown on page 30 the Net Pension Liability increased by $7.5 million from $5.1 Million in the prior year to an ending balance of $12.7 million as of June 30, 2023.

Retiree Medical and Dental (OPEB) Liabilities
This is the sixth year of the requirement to incorporate additional information on retirement plan liabilities as required by Government Accounting Standards Board (GASB) statement No.

75. (See Note 7 on pages 38-41). As shown on page 30 the Net OPEB Liability increased by $164,580 from $11.1 Million in the prior year to an ending balance of $11.2 million as of June 30, 2023.Previously, OPEB liabilities were offset by contributions. With the implementation of GASB 75, OPEB liabilities and additional contributions are recorded separately, showing the estimated future OPEB debt.

Other Reports
Management Report
As part of the Audit process the Auditors also review procedures and make recommendations on improvements as part of a Management Report (See Attachment C). The Auditors did not make any reportable findings with the current year work.

Measure A Transportation Funds
Notes to the Basic Financial Statements
Staff Report Auditor’s Report FY 22-23 Page 4 of 5
The Town receives $50,000 per year in Measure A Transportation Funds from San Mateo County. The Measure A Program requires the Town to complete a separate audit of these funds (See Attachment D). In addition to financial testing of transactions the Auditors do additional review to provide a reasonable assurance that the Town of Colma has complied with certain provisions of Measure A. No Measure A expenditures were made by the Town in FY 2022-23. The balance available in the Measure A Fund as of June 30, 2023 is $162,816. Measure W Transportation Funds The Town receives $30,769 per year in Measure W Transportation Funds from San Mateo County. The Measure W Program requires the Town to complete a separate audit of these funds (See Attachment E). In addition to financial testing of transactions the Auditors do additional review to provide a reasonable assurance that the Town of Colma has complied with certain provisions of Measure W. No Measure W expenditures were made by the Town in FY 2022-23. The current fund balance is $92,622. Staff will allow the fund to accumulate until it is sufficient to be used for a capital project. Appropriations Limit Annually the Town is required to calculate an Appropriations Limit which is presented in the Budget and adopted by the Council. State Law does not require an “Audit” of the proceeds of taxes, but does require a review completing specific procedures. This review was completed by the Auditors with no exceptions being noted (See Attachment F). Reasons For the Recommended Action/Findings Acceptance of the FY 2022-23 audited/reviewed financial statements and reports will authorize Staff to publish and distribute them to various interested parties and ensure compliance with the Town’s debt issuance requirements. FISCAL IMPACT This is for reporting purposes. No fiscal impact. ALTERNATIVES None. In addition to supporting good governance, the completion of Audited Financial Statements is a requirement of the Certificate of Participation (COP) debt issuance and rules imposed by the SEC. CONCLUSION Staff recommends the City Council receive the presentation from the Town’s auditor, then adopt a resolution accepting the Auditor’s reports for Fiscal Year 2022-23.

Staff Report Auditor’s Report FY 22-23 Page 5 of 5
ATTACHMENTS A. Resolution - Accepting Auditor Reports for FY 2022-23 B. FY 2022-23 Basic Financial Reports C. FY 2022-23 Management Report D. FY 2022-23 Measure A Fund Component Unit Financial Statements E. FY 2022-23 Measure W Fund Component Unit Financial Statements F. Independent Accountants’ Report on Agreed-Upon Procedures Applied to Appropriations Limit Worksheet Res. 2024-##, Auditor’s Report Fiscal Year 2022-23 Page 1 of 1 RESOLUTION NO. 2024-##

OF THE CITY COUNCIL OF THE TOWN OF COLMA
RESOLUTION ACCEPTING AUDITOR’S REPORTS AND
FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDING JUNE 30, 2023, PURSUANT TO CEQA GUIDELINE 15378
The City Council of the Town of Colma does hereby resolve as follows:
1 . Background
(a) For Fiscal Year ending June 30, 2023, the Town engaged O’ Connor & Company formerly R.J. Ricciardi, CPA to conduct an independent audit and review of the Town’s financial statement for the fiscal year ending June 30, 2023.
(b) Overall, the Town received a “clean” audit for FY 2022-23 with no adverse findings or recommendations. As part of the audit, O’ Connor and Company also assessed the Town’s internal control and noted in Attachment C, FY 2022-23 Management Reports that they did not find any observations. The auditors recommend the Town consider formalizing a capitalization policy for leases and subscription arrangement liabilities and the right to use assets over $40,000. Also, keeping lease terms to month-to-month or annual leases whenever possible.

2. Order
(a) The City Council hereby accepts the Auditor’s reports and Financial Statements for Fiscal Year 2022-23.

Certification of Adoption
I certify that the foregoing Resolution No. 2024-## was duly adopted at a regular meeting of the City Council of the Town of Colma held on October 23, 2024, by the following vote:

Name Voting Present, Not Voting Absent
Aye No A bstain Not Participating
John Irish Goodwin, Mayor
Ken Gonzalez
Carrie Slaughter
Helen Fisicaro
Joanne F. del Rosario
Voting Tally
Da
ted: ____________________ _____________________________________ John Irish Goodwin, Mayor
Attest: ____________________________
Michelle Estabillo, City Clerk

ATTACHMENT A

ATTACHMENT B

TOWN OF COLMA

COLMA, CALIFORNIA

ANNUAL FINANCIAL REPORT
JUNE 30, 2023
~ O'CONNOR & COMPANY
~
- i -
TABLE OF CONTENTS PAGE INTRODUCTORY SECTION Table of Contents i-ii Town Officials iii Town of Colma Organizational Chart iv FINANCIAL SECTION Independent Auditors’ Report 1-2 Management’s Discussion and Analysis 3-9 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position 10 Statement of Activities 11 Fund Financial Statements: Governmental Funds Balance Sheet 12 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds 13 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 14 Propriety Fund Financial Statements: Statement of Net Position – Proprietary Funds 15 Statement of Revenues, Expenses and Changes in Fund Net Position – Proprietary Funds 16 Statement of Cash Flows – Proprietary Funds 17 Notes to Basic Financial Statements 18-41 REQUIRED SUPPLEMENTARY INFORMATION Budgetary Comparison Schedule – General Fund 42 Notes to Budgetary Comparison Schedule 43 Schedule of the Local Government’s Proportionate Share of Net Pension Liability –- Miscellaneous 44 Schedule of the Local Government’s Proportionate Share of Net Pension Liability – Safety 45 - ii -
TABLE OF CONTENTS PAGE Schedule of Contributions – Miscellaneous 46 Schedule of Contributions – Safety 47 Schedule of Change in the Net OPEB Liability and Related Ratios 48 Schedule of Town of Colma’s Contributions - OPEB 49 SUPPLEMENTARY INFORMATION Nonmajor Governmental Funds Combining Balance Sheet 50 Nonmajor Governmental Funds Combining Schedule of Revenues, Expenditures and Changes in Fund Balances 51 - iii -

TOWN OF COLMA, CALIFORNIA

TOWN OFFICIALS
FOR THE FISCAL YEAR JUNE 30, 2023
Elected City Officials
Mayor John Irish Goodwin
Vice Mayor Ken Gonzalez
Council Member Joanne F. del Rosario
Council Member Carrie Slaughter
Council Member Helen Fisicaro
Appointed City Officials
City Manager Dan Barros
City Clerk Michelle Estabillo
Chief of Police John Munsey
Administrative Services Director Renee Eshun
Recreation Manager Angelika Abellana
City Services Provided Under Contract
Legal Services Best, Best & Krieger
Planning, Engineering & Building Services CSG Consultants This document is dedicated to the memory of Raquel "Rae" Gonzalez. -

TOWN OF COLMA, CALIFORNIA

ORGANIZATIONAL CHART
FOR THE FISCAL YEAR JUNE 30, 2023
I
City Clerk
I
' Function:
- Records Retention
and Management
- C.A.P.E
- Town Administration
Staffing:
- City Clerk
- Administrative
Technicians 11/111 (2.0)
I
Administrative
Services Director
I
;-;unction:
- Human Resources
- Finance
- Risk Management
- Technology
Staffing:
- Administrative
Services Director
- HR Analyst
- Accounting
Technicians (1.80)
l
Residents of Colma ]
I
City Council
I I
[ ___ ci_tv_A_t_t_o_rn_e_v __ ..,] [ ___ c_i_tv_M----.-a_n_ag_e_r __ ..,} I
I
Chief of Police
I
Function:
- Police Admin
- Patrol
- Communications/
Dispatch
- Community Services
Staffing:
- Chief of Police
- Executive Assistant
to Chief of Police
- Police Commander
- Detective Sergeant
& Sergeant (S.O)
- Detective &
Officers (12.22)
- Communication
Supervisor
- Communication/
Dispatch (3.20)
- Community Services
Officers (1.48)
I
Engineering, Building,
& Planning
I
1 Function: '
- iv -
- Permits and
development review
- Grant management
- Capital project
- Regulatory
requirements
pertaining to
development and
public infrastructure
Staffing:
- Contracted
I
Public Works
Maintenance
Supervisor
I
;-;unction:
- Public Right-Of-Way
maintenance
- Storm water and
sewer system
maintenance and
compliance
Staffing:
- Maintenance
Supervisor
- Maintenance
Tech 11/11 (2.0)
I
Recreation Manager
I
Functions:
- Recreation programs
- Community Events
- Facility Rental
Staffing:
- Coordinator (2.0)
- Facility Attendant
(3.5)
- Recreation Leaders
(4.0)
1701 NOVATO BLVD, SUITE 302
NOVATO, CA 94947
PH. (415) 457-1215
FAX. (415) 457-6735
www.maocpa.com
~

O'CONNOR & COMPANY
~

INDEPENDENT AUDITORS' REPORT
Town Council
Town of Colma
Colma, California
Report on the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information, of the Town of Colma, California as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise Town of Colma's basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of Town of Colma, as of June 30, 2023, and the respective changes in financial position and where applicable, cash flows thereof, for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. 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 Town of Colma, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

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

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

Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with auditing standards generally accepted in the Unites States of America will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. - 1 -
Town Council
Town of Colma - Page 2
In performing an audit in accordance with auditing standards generally accepted in the Unites States of America, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Town of Colma's internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Town of Colma's ability to continue as a going concern for a reasonable period of time.

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

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis, and other required supplementary information as listed in the table of contents be presented to supplement the basic financial statements. Such information, 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 the financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise Town of Colma's basic financial statements. The accompanying Supplementary Information, as listed in the Table of Contents, is presented for the purpose of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements.

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

Novato, California
September 24, 2024
O'Connor & Company
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Town of Colma

MANAGEMENT'S DISCUSSION AND ANALYSIS
June 30, 2023
The following discussion provides readers of Town of Colma's (the Town's) financial statements a narrative overview and analysis of the financial activities of the Town for the fiscal year ended June 30, 2023. Please read this document in conjunction with the accompanying Basic Financial Statements.

OVERVIEW OF THE ANNUAL FINANCIAL REPORT
This Annual Financial Report is divided into two parts:
1) Management's Discussion and Analysis (MD&A);
2) The Basic Financial Statements, which include the Entity-wide and the Fund Financial Statements, along with the Notes to these financial statements.

The Basic Financial Statements
The Basic Financial Statements comprise the Entity-wide Financial Statements and the Fund Financial Statements; these two sets of financial statements provide two different views of the Town's financial activities and financial position.

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

All the Town's activities are grouped into Governmental Activities and Business-type Activities, as explained below. The amounts in the Statement of Net Position and the Statement of Activities are separated into Governmental Activities and Business-type Activities in order to provide a summary of these two activities for the Town as a whole.

The Fund Financial Statements report the Town's operations in more detail than the Entity-wide statements and focus primarily on the short-term activities of the Town's General Fund and other Major Funds. The Fund Financial Statements measure only current revenues and expenditures and fund balances; they exclude capital assets, long-term debt and other long-term amounts.

Major Funds account for the major financial activities of the Town and are presented individually, while the activities of Non-major Funds are presented in summary, with subordinate schedules presenting the details for each of these other funds. Major Funds are explained below.

The Entity-wide Financial Statements
Entity-wide Financial Statements are prepared on an accrual basis, which means they measure the flow of all economic resources of the Town as a whole.

The Statement of Net Position and the Statement of Activities present information about the following:
• Governmental Activities - All of the Town's basic services are governmental activities. These services are supported by general Town revenues such as taxes and by specific program revenues such as user fees and charges.
• Business-type Activities - The Town's enterprise activities of water and wastewater are reported in this area. Unlike governmental services, these services are supported by charges paid by users based on the amount of the service they use.
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Fund Financial Statements
Town of Colma

MANAGEMENT'S DISCUSSION AND ANALYSIS
June 30, 2023
The Fund Financial Statements provide detailed information about each of the Town's most significant funds, called Major Funds. The concept of Major Funds, and the determination of which are Major Funds, was established by Governmental Accounting Standards Board (GASB) Statement 34 and replaces the concept of combining like funds and presenting them in total. Instead, each Major Fund is presented individually, with all Non-major Funds summarized and presented only in a single column. Subordinate schedules present the details of these Non-major Funds. Major Funds present the major activities of the Town for the year and may change from year to year because of changes in the pattern of the Town's activities.

In the Town's case, there are two major governmental funds: the General Fund and the Capital Improvement Projects Fund.

The Town's Enterprise Funds are reported as Major Funds.

Fund Financial Statements include governmental and proprietary funds as discussed below.

Governmental Fund Financial Statements are prepared on a modified accrual basis, which means they measure only current financial resources and uses. Capital assets and other long-lived assets, along with long-term liabilities, are not presented in the Governmental Fund Financial Statements.

Proprietary Funds Financial Statements are prepared on a fully accrual basis, as in the past, and include all their assets and liabilities, current and long-term.

The detailed budgetary comparison schedule for the General page number is noted on the table of contents.

FINANCIAL ACTIVITIES OF THE TOWN AS A WHOLE
This analysis focuses on the net position and changes in net position of the Town as a whole. Tables 1 and 2 focus on the Town's Governmental Statement of Net Position and Statement of Activities, while Tables 3 and 4 focus on the Town's Business-type Statement of Net Position and Statement of Activities.

Governmental Activities
Table 1
Governmental Net Position at June 30
2023 2022
Current and other assets $ 38,930,538 $ 42,959,600
Capital assets, net of depreciation 56,548,694 56,638,317 Total assets 95,479,232 99,597,917
Deferred outflows 10,952,481 5,558,124
Current liabilities 1,326,418 1,701,627
Long-term liabilities 29,363,609 21,881,456
Total liabilities 30,690,027 23,583,083
Deferred inflows 2,382,110 5,994,674
Net position:

Net investment in capital assets 52,253,694 52,213,317
Restricted 4,256,415 10,143,564
Unrestricted 16,849,467 13,221,403
Total net position $ 73 359 576 $ 75 578 284
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Town of Colma

MANAGEMENT'S DISCUSSION AND ANALYSIS
June 30, 2023
The Town's governmental net position amounted to $73,359,576 as of June 30, 2023, a change of $2,218,708 from 2022. This difference is the Change in Net Position and the prior period adjustment reflected in the Governmental Activities column of the Statement of Activities shown in Table 2.

The Town's governmental net position as of June 30, 2023 comprised the following:
• Cash and investments of $30,702,008 in the Town treasury. Substantially all these amounts were held in short-term investments in government securities, as detailed in Note 4 to the financial statements.
• Other assets comprise current receivables of $4,643,150 • Capital assets of $56,548,694 net of depreciation charges, which includes all the Town's capital assets used in governmental activities.
• Current liabilities, including accounts payable, claims and other amounts due currently, total $1,326,418.
• Net investment in capital assets, of $52,253,694 representing the Town's investment in capital assets used in Governmental Activities, net of amounts borrowed to finance that investment. • Restricted net position totaling $4,256,415, which may be used only to construct specified capital projects, for debt service, or for community development projects. The restrictions on these funds were placed there by outsiders and cannot be changed by the Town. • Unrestricted net position, the part of net position that can be used to finance day-to-day operations without constraints established by debt covenants or other legal requirements or restrictions. The Town had $16,849,467 of unrestricted net position as of June 30, 2023.

GOVERNMENTAL ACTIVITIES
Sources of Revenues
Grants and
contributions
Chargesfor 3%--------_
Taxes
92%
Use of money and
\ property ...
-5-
Functional Expenses
Public
Safety,
Recreation 8% General
I Government,
25%
19%
Town of Colma

MANAGEMENT'S DISCUSSION AND ANALYSIS
June 30, 2023
The Functional Expenses Chart includes only the current year's expenses; it does not include capital outlays, which are now added to the Town's capital assets. As the Chart shows, general government is $4,546,403, or 25%, of total government expenses, planning and public works is $3,488,175 or 19%, Public Safety is $8,672,767 or 48%, and Recreation Services is $1,370,132 or 8%.

The Statement of Activities presents program revenues and expenses and general revenues in detail. All of these are elements in the Changes in Governmental Net Position summarized below.

Expenses
General government
Planning
Public works
Public safety
Recreation
Interest on long-term debt
Total expenses
Revenues
Program revenues:

Charges for services
Grants and contributions
Total program revenues
General revenues:

Taxes
Other revenues and transfers
Use of money and property
Total general revenues
Total revenues
Change in net position
Table 2
Changes in Governmental Net Position
Governmental
Activities
2023
$ 4,546,403
i
570,396
2,917,779
8,672,767
1,370,132
164,569
18,242,046
492,649
671 373
1,164,022
19,988,378
340,259
138 271
20,466,908
21,630,930
3 388 884
Governmental
Activities
2022
$ 4,213,372
i
312,128
3,524,250
6,278,924
1,061,937
169,569
15,560,180
398,441
578,385
976,826
19,077,777
(1,163,654)
91 028
18,005,151
18,981,977
3 421 Z9.Z
As the Sources of Revenue Chart and Table 2 above show, $1,164,022 or 6%, of the Town's fiscal year 2023 governmental revenue, came from program revenues and $20,466,908, or 94%, came from general revenues such as taxes and interest and transfers.

Program revenues were composed of charges for services of $492,649, which include permit revenues, fees and charges used to fund expenses incurred in providing services; and $671,373 of grants and contributions which include streets, roads, housing, fire and police grants.

General revenues are not allocable to programs. General revenues are used to pay for the net cost of governmental programs.

Business-type Activities
The Statement of Net Position and Statement of Activities present a summary of the Town's Business-type Activities that are composed of the Town's enterprise funds. -6-
Current assets
Town of Colma

MANAGEMENT'S DISCUSSION AND ANALYSIS
June 30, 2023
Table 3
Business-type Net Position at June 30
Business-type
2023
$ 1,477,594
Capital assets, net of accumulated depreciation 2,153,000 Total assets 3,630,594
Current liabilities 13 066
Total liabilities 13 066
Net position:

Net investment in capital assets 2,153,000
Unrestricted 1,464,528
Total net position $ 3 617 528
The net position of business-type activities increased by $1,062,066 in fiscal year 2023.

Expenses
Table4
Changes in Business-Type Net Position
Business-Type
Activities
2023
Business-type
2022
$ 310,652
2,250,249
2,560,901
5439
5439
2,250,249
305,213
$ 2 555 462
Business-Type
Activities
2022
Town properties
Sewer
$ 191,654 $ 191,411
894 537
Total expenses
Revenues
Program revenues:

Charges for services
Total program revenues
General revenues:

Other revenues and transfers
Use of money and property
Total general revenues
Total revenues
Change in net position
Analyses of Maior Funds
Governmental Funds
General Fund
$
982,951
1 174 605 1,085,948
1,076,292 949,943
1,076,292 949,943
261,648 119,267
898,731 {1,222)
1,160,379 118 045
2,236,671 1,067,988
1062066 $ (17 960)
General Fund revenues increased $2,571,014 this fiscal year due to an increase in all tax revenue sources.

Actual revenues were less than the budgeted amounts. Property Tax revenues increased $102,667 as valuations rose from the prior year.

General Fund expenditures were $17,787,00, an increase of $2,425,255 from the prior year. Expenditures were less than budgeted amounts.
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Town of Colma

MANAGEMENT'S DISCUSSION AND ANALYSIS
June 30, 2023
As of June 30, 2023, the General Fund's fund balance totaled $30,734,219. The unassigned portion of fund balance represents available liquid resources.

Capital Improvement Fund
This fund accounts for capital projects. In fiscal year 2023, revenues increased by $276,796 due to the receipt of State grant funds. Expenditures decreased $57,451 due to less infrastructure project work in 2023.

Other Governmental Funds
These funds are not presented separately in the basic financial statements.

Proprietary Funds
Sewer Fund
This fund accounts for the sewer activity by the Town. The funds change in net position was $170,254 in fiscal year 2023 resulting in an ending net position of $353,549.

Town Properties Fund
This fund accounts for the activity of the various Town income properties. The fund's change in net position was $891,802 in fiscal year 2023 resulting from the sale of the mission street property. This resulted in an ending net position of $3,263,979.

GENERAL FUND BUDGETARY HIGHLIGHTS
It is the Town's policy to amend the budget at year end to match the actual amounts. The amendments are approved by the Town Council. The original budget was not modified during the fiscal year ended 2023.

CAPITAL ASSETS
GASB Statement 34 requires the Town to record all its capital assets including infrastructure, which was not recorded in prior years. Infrastructure includes roads, bridges, signals and similar assets used by the entire population.

In fiscal year 2023 the Town reported the cost of all its infrastructure assets and computed the amount of accumulated depreciation for these assets based on their original acquisition dates.

At the end of fiscal year 2023 the cost of infrastructure and other capital assets recorded on the Town's financial statements was as shown in Table 5 below:
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Town of Colma

MANAGEMENT'S DISCUSSION AND ANALYSIS
June 30, 2023
Table 5
Capital Assets at Year-end
Balance at Balance at
June 30, 2023 June 30, 2022
Governmental Activities
Land
Construction in Progress
Infrastructure
Buildings
Improvements
Equipment
Less: accumulated depreciation
Governmental activity capital assets, net
Business-type Activities
Land
Infrastructure
Buildings
Less: accumulated depreciation
Business-type activity capital assets, net
$
$
$
$
Details on capital assets and current year additions can be found in Note 4. 6,589,376 $ 6,589,376
520,725 205,820
29,821,436 29,225,909
34,600,335 34,554,590
4,175,812 3,784,093
3,884,549 3,676,607
(23,043,539) (21,398,078)
56 548 694 $ 56 638 317
1,006,095 $ 1,006,095
380,910 380,910
2,383,100 2,615,156
(1,617,105) (1,751,912)
2 153 000 ~$====!!2!!±!2!!!=5!!,!!0!,!!2!!!:4!=!,9
The Town depreciates all its capital assets over their estimated useful lives, as required by GASB Statement 34.

The purpose of depreciation is to spread the cost of a capital asset over the years of its useful life so that an allocable portion of the cost of the asset is borne by all users. Additional information on depreciable lives may be found in Note 4 of the financial statements.

DEBT ADMINISTRATION
The Town made all scheduled repayments of existing debt. Each of the Town's debt issues are discussed in detail in Note 5 to the financial statements.

As of June 30, 2023, the Town's debt comprised:

Governmental Activities:

Certificates of participation
OPEB
NPL
Compensated absences
Total
Table 6
Outstanding Debt

CONTACTING THE TOWN'S FINANCIAL MANAGEMENT
$
$
2023 2022
4,295,000 $ 4,425,000
11,225,599 11,061,019
12,680,571 5,133,608
1480705 1,584,523
29 681 875 $ 22 204 150
This Annual Financial Report is intended to provide citizens, taxpayers, and creditors with a general overview of the Town's finances. Questions about this report should be directed to Town of Colma, 1198 El Camino Real, Colma, CA 94014.
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Town of Colma

STATEMENT OF NET POSITION
June 30, 2023
Governmental Business Type
ASSETS Activities Activities Total
Current assets:

Cash and investments $30,702,008 $ 1,453,366 $32,155,374 Restricted cash and investments 3,585,380 3,585,380
Receivables:

Taxes 3,636,566 3,636,566
Accounts 860,921 24,228 885,149
Accrued interest 145,663 145,663
Total current assets 38,930,538 1,477,594 40,408,132
Noncurrent assets:

Capital assets:

Non-depreciable 7,110,101 1,006,095 8,116,196
Depreciable, net of accumulated depreciation 49,438,593 1,146,905 50,585,498 Total noncurrent assets 56,548,694 2,153,000 58,701,694 Total assets 95,479,232 3,630,594 99,109,826

DEFERRED OUTFLOWS
Deferred outflows related to OPEB 3,128,643 3,128,643
Deferred outflows related to pensions 7,823,838 7,823,838 Total deferred outflows 10,952,481 10,952,481

LIABILITIES
Current liabilities:

Accounts payable and accrued expenses 645,092 13,066 658,158 Deposits 363,060 363,060
Compensated absences due in one year 183,266 183,266
Certificates of participation due in one year 135,000 135,000 Total current liabilities 1,326,418 13,066 1,339,484
Noncurrent liabilities due in more than one year:

Compensated absences 1,297,439 1,297,439
Certificates of participation 4,160,000 4,160,000
Net pension liability 12,680,571 12,680,571
Net other post-employment benefit obligation 11,225,599 11,225,599 Total noncurrent liabilities 29,363,609 29,363,609
Total liabilities 30,690,027 13,066 30,703,093

DEFERRED INFLOWS
Deferred inflows related to OPEB 1,265,859 1,265,859
Deferred inflows related to pensions 1,116,251 1,116,251 Total deferred inflows 2,382,110 2,382,110

NET POSITION
Net investment in capital assets 52,253,694 2,153,000 54,406,694 Restricted 4,256,415 4,256,415
Unrestricted 16,849,467 1,464,528 18,313,995
Total net position $ 73,359,576 $ 3,617,528 $ 76,977,104 The accompanying notes are an integral part of these financial statements. - 10 -
Town of Colma

STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2023
Net (Expense) Revenue and
Program Revenues Changes in Net Position
Operating Capital
Charges for Grants and Grants and Governmental Business-type Functions/Programs Exeenses Services Contributions Contributions Activities Activities Total Town Government
Governmental activities:

General government $ 4,546,403 $ $ 103,600 $ $ (4,442,803) $ (4,442,803) Public safety 8,672,767 152,242 197,932 (8,322,593) (8,322,593) Public works 2,917,779 163,504 116,300 231,771 (2,406,204) (2,406,204) Recreation 1,370,132 51,298 (1,318,834) (1,318,834)
Planning 570,396 125,605 21,770 (423,021) (423,021)
Interest on long-tenn debt 164,569 (164,569) (164,569)
Total governmental activities 18,242,046 492,649 439,602 231,771 (17,078,024) (17,078,024) Business-type activities:

Town properties 191,654 184,725 $ (6,929) (6,929)
Sewer 982,951 891,567 (91,384) (91,384)
Total business-type activities 1,174,605 1,076,292 (98,313) (98,313) Total $19,416,651 $ 1,568,941 $ 439,602 $ 231,771 (98,313) (17,176,337) General revenues:

Taxes:

Property taxes 818,444 818,444
Sales taxes 14,850,496 14,850,496
Cardroom taxes 4,145,418 4,145,418
Other taxes 174,020 174,020
Investment income (loss) 601,907 10,460 612,367
Transfers (261,648) 261,648
Other revenues 138,271 888,271 1,026,542
Total general revenues 20,466,908 1,160,379 21,627,287
Change in net position 3,388,884 1,062,066 4,450,950
Net position, beginning of period 75,578,283 2,555,462 78,133,745 Prior period adjustment (5,607,591) (5,607,591)
Net position, beginning of period restated 69,970,692 2,555,462 72,526,154 Net position, ending of period $ 73,359,576 $ 3,617,528 $76,977,104 The accompanying notes are an integral part of these financial statements. - 11 -
Capital Other TotalGeneral Improvement Governmental GovernmentalFundProject FundFundsFundsASSETSCash and investments 23,422,276$ 3,011,863$ 3,357,789$ 29,791,928$ Restricted cash and investments 3,584,994 - 386 3,585,380Taxes receivable 3,636,566 - - 3,636,566Accounts receivable 753,336 461 107,124 860,921Accrued interest receivable 145,663- - 145,663Total assets 31,542,835$ 3,012,324$ 3,465,299$ 38,020,458$ LIABILITIESAccounts payable 433,737$ 57,634$ 141,902$ 633,273$ Accrued expenditures 11,819 - - 11,819 Deposits 363,060 - - 363,060 Total liabilities 808,616 57,634 141,902 1,008,152 FUND BALANCESRestricted 3,584,994 - 671,421 4,256,415 Committed 16,664,098 - - 16,664,098 Assigned for disaster response 950,000 2,954,690 2,651,976 6,556,666 Unassigned 9,535,127 - - 9,535,127 Total fund balances 30,734,219 2,954,690 3,323,397 37,012,306 Total liabilities and fund balances 31,542,835$ 3,012,324$ 3,465,299$ 38,020,458$ Total governmental fund balances 37,012,306$ 56,548,694910,080(21,111,504) Net position of governmental activities 73,359,576$ Some liabilities, including bonds, notes, leases and long-term portion of compensated absences are not due and payable in the current period and are therefore not reported in the funds.

Town of ColmaGOVERNMENTAL FUNDSBALANCE SHEETJune 30, 2023 Capital assets used in governmental activities are not reported in the funds.Amounts reported for governmental activities in the statement of net position are different because:The assets and liabilities of the internal service fund are included in the governmentalactivities in the statement of net position.The accompanying notes are an integral part of these financial statements.- 12 - Town of Colma

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDS
For the Fiscal Year Ended June 30, 2023
Capital Other Total
General Improvement Governmental Governmental
Fund Project Fund Funds Funds

REVENUES
Property taxes $ 818,444 $ $ $ 818,444
Sales taxes 14,850,496 14,850,496
Cardroom taxes 4,145,418 4,145,418
Other taxes 81,050 92,970 174,020
Licenses and permits 285,666 285,666
Fines and forfeits 124,882 124,882
Intergovernmental 59,431 245,874 366,068 671,373
Investment income (loss) 556,218 23,743 13,784 593,745
Other revenues 136,356 1,913 138,269
Charges for services 82,101 82,101
Total revenues 21,140,062 271,530 472,822 21,884,414

EXPENDITURES
Current:

General government 4,455,145 1,250 4,456,395
Public safety 9,438,279 227,859 9,666,138
Public works 2,111,307 65,101 2,176,408
Recreation 1,214,784 1,214,784
Planning 567,485 567,485
Capital outlay 275,008 1,116,562 1,391,570
Debt service:

Principal 130,000 130,000
Interest 164,569 164,569
Total expenditures 17,787,000 275,008 1,705,341 19,767,349 Excess (deficiency) of
revenues over expenditures 3,353,062 {3,478) {1,232,519) 2,117,065

OTHER FINANCING SOURCES (USES)
Transfers in 833,170 3,010,334 3,843,504
Transfers out {3,956,083) {149,069) {4,105,152)
Total other financing sources (uses) {3,956,083) 833,170 2,861,265 {261,648) Net change in fund balances {603,021) 829,692 1,628,746 1,855,417 Fund balances, beginning of period 36,944,831 2,124,998 1,694,651 40,764,480 Prior period adjustment {5,607,591) {5,607,591)
Fund balances, beginning of period restated 31,337,240 2,124,998 1,694,651 35,156,889 Fund balances, end of period $ 30,734,219 $ 2,954,690 $ 3,323,397 $ 37,012,306 The accompanying notes are an integral part of these financial statements. - 13 -
Town of Colma

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES OF

GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
For the Fiscal Year Ended June 30, 2023
Net Change in Fund Balances - Total Governmental Funds
Amounts reported for governmental activities in the statement of activities are different because:

CAPITAL ASSET TRANSACTIONS
Governmental funds report capital outlays as expenditures. However, in the statement of activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense. This is the amount by which depreciation ($1,645,641) is under capital outlays ($1,555,838) in the current period.

LONG-TERM DEBT PROCEEDS AND PAYMENTS
Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long-term liabilities in the statement of net position.

ALLOCATION OF INTERNAL SERVICE FUND ACTIVITY
Internal service funds are closed by charging additional amounts or reducing charges to participating governmental activities to completely cover the internal service funds costs for each year

ACCRUAL OF NON-CURRENT ITEMS
The amounts below included in the statement of activities do not require the use of or provide current financial resources and are therefore not reported as expenditures or revenues in the governmental funds.

Compensated Absences
Pension expense
OPEB expense
Net difference
Change in Net Position of Governmental Activities
The accompanying notes are an integral part of these financial statements. -14 -
$ 1,855,417
(89,623)
130,000
93,894
103,818
(151,840)
1,447,218
1,533,467
$ 3,388,884
ASSETS
Current assets:

Cash and investments
Accounts receivable
Total current assets
Noncurrent assets:

Capital assets:

Buildings
Land
Infrastructure
Accumulated depreciation
Total capital assets
Total assets

LIABILITIES
Current liabilities:

Accounts payable
Total current liabilities

NET POSITION
Net investment in capital assets
Un restricted
Total net position
Town of Colma

PROPRIETARY FUNDS

STATEMENT OF NET POSITION
June 30, 2023
Town
Sewer Proeerties
$ 209,015 $ 1,244,351
24,228
209,015 1,268,579
2,383,100
1,006,095
380,910
{227,026) {1,390,079)
153,884 1,999,116
362,899 3,267,695
9,350 3,716
9,350 3,716
153,884 1,999,116
199,665 1,264,863
$ 353,549 $ 3,263,979
Totals
$ 1,453,366
24,228
1,477,594
2,383,100
1,006,095
380,910
{1,617,105)
2,153,000
3,630,594
13,066
13,066
2,153,000
1,464,528
$ 3,617,528
The accompanying notes are an integral part of these financial statements. -15-
Governmental
Activities
Internal Service
Fund
$ 910,080
910,080
910,080
910,080
$ 910,080
Town of Colma

PROPRIETARY FUNDS

STATEMENT OF REVENUES,

EXPENSES, AND CHANGES IN FUND NET POSITION
For the Fiscal Year Ended June 30, 2023
Town
Sewer Proeerties
Operating revenues:

Charges for services $ 891,567 $ 184,725 $
Total operating revenues 891,567 184,725
Operating expenses:

Materials, supplies, rent and services 960,968 116,387
Depreciation 21,983 75,267
Total operating expenses 982,951 191,654
Operating income (loss) (91,384) (6,929)
Non-operating revenues (expenses):

Investment income (loss) 10,460
Gain on sale of capital assets 888,271
Total non-operating revenues (expenses) 898,731
Contributions and transfers
Transfers in 261,648
Net contributions and transfers 261,648
Change in net position 170,264 891,802
Net position, beginning of period 183,285 2,372,177
Net position, end of period $ 353,549 $ 3,263,979 $
Totals
1,076,292
1,076,292
1,077,355
97,250
1,174,605
(98,313)
10,460
888,271
898,731
261,648
261,648
1,062,066
2,555,462
3,617,528
The accompanying notes are an integral part of these financial statements. - 16 -
Governmental
Activities
Internal Service
Fund
$ 250,000
250,000
164,268
164,268
85,732
8,162
8,162
93,894
816,186
$ 910,080
Town of Colma

PROPRIETARY FUNDS

STATEMENT OF CASH FLOWS
For the Fiscal Year Ended June 30, 2023
Town
Sewer Proeerties
Cash flows from operating activities:

Receipts from other funds for services $ 891,564 $ 174,587 Payments to suppliers {954,639) {115,089)
Net cash provided (used) by operating activities {63,075) 59,498 Cash flows from investing activities:

Interest and other income 898,731
Net cash provided (used) by investing activities 898,731 Cash flows from non-capital and related financing activities Transfers 261,648
Net cash provided {used) by non-capital and related
financing activities 261,648
Net increase (decrease) in cash and cash equivalents 198,573 958,229 Cash and cash equivalents - beginning of period 10,442 286,122 Cash and cash equivalents - end of period $ 209,015 $1,244,351 Reconciliation of operating income (loss) to net cash
provided (used) by operating activities:
$
$
Operating income (loss) $ {91,384) $ {6,929) $
Adjustments to reconcile operating income (loss) to
net cash provided (used) by operating activities:

Depreciation 21,983 75,267
Changes in certain assets and liabilities:

Accounts receivable (3) (10,138)
Accounts payable 6,329 1,298
Net cash provided (used) by operating activities $ {63,075) $ 59,498 $ Governmental
Activities
Internal Service
Totals Fund
1,066,151 $ 250,000
{1,069,728) {174,804)
{3,577) 75,196
898,731 8,162
898,731 8,162
261,648
261,648
1,156,802 83,358
296,564 826,722
1,453,366 $ 910,080
{98,313) $ 85,732
97,250
(10,141)
7,627 {10,536)
{3,577) $ 75,196
The accompanying notes are an integral part of these financial statements. - 17 -
NOTE 1 -
Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
The Town of Colma (the Town) is a municipal corporation governed by an elected five-member Town Council. The accompanying basic financial statements present the government and its component units, entities for which the government is considered to be financially accountable. The Town has no component units.

The Town provides customary municipal services including general governmental activities, police protection, streets, maintenance, parks and recreation activities, planning and zoning, and building and public works. The Town contracts for sanitary sewer services with local providers in Daly City and South San Francisco, for street lighting services with San Mateo County, and for water service from Cal Water.

B. Entity-wide and Fund Financial Statements
The entity-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the nonfiduciary activities of the Town with the effect of interfund activity removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support.

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues.

Separate financial statements are provided for the Town's governmental funds. Major individual governmental funds are reported as separate columns in the fund financial statements.

C. Measurement Focus, Basis of Accounting. & Financial Statement Presentation The government-wide and proprietary fund financial statements are reported using the economic resources measurement focus and the full accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when "measurable" and "available". Revenues are 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 revenues to be available if they are collected within 60 days of the end of the current fiscal year. 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.
-18-
NOTE 1 -
Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
C. Measurement Focus. Basis of Accounting. & Financial Statement Presentation (concluded) Property taxes, sales taxes, card room taxes, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. All other revenue items are measurable and available only when cash is received by the government.

The government reports the following major governmental funds:

The General Fund is the government's primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.

Capital Improvement Project Fund accounts for resources transferred from the General Fund to complete capital improvement projects.

The Town reports the following major proprietary funds:

Town Properties Fund accounts for the activities of the Town's housing program.

The Sewer Fund accounts for the activities of the Town's sewer service.

As a rule, the effect of interfund activity has been eliminated from the government-wide financial statements. This includes the elimination of interfund payables and receivables and of interfund transfers.

The Town may fund programs with a combination of cost-reimbursement grants, categorical block grants, and general revenues. Thus, both restricted and unrestricted net position may be available to finance program expenditures. The Town's policy is to first apply restricted grant resources to such programs, followed by general revenues if necessary.

Additionally, the Town reports the following fund type:

The Internal Service Fund is used to account for the replacement of the Town's fleet and associated equipment provided to other Town departments on a cost reimbursement basis.

Amounts reported as program revenues include 1) charges to customers and applicants, for goods, services or privileges provided, 2) operating grants and contributions and 3) capital grants and contributions. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.

Proprietary funds distinguish operating revenues and expenses from non-operating items.

Operating revenues and expenses generally result from providing goods and services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations.

The principal operating revenues of the enterprise and internal service funds are charges for sales and services.

Operating expenses for enterprise funds include salaries and employee benefits, maintenance and operation of systems and facilities, administrative expenses and depreciation on capital assets. All revenues/expenses not meeting this definition are reported as non-operating revenues and expenses.
-19-
NOTE 1 -
Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
D. Assets, Liabilities and Net Position or Equity
Deposits and Investments
The Town's cash and cash equivalents are cash on hand, demand deposits, and short-term investments with original maturities of three months or less from the date of acquisition.

The table below identifies the investment types that are authorized for the Town by the California Government Code (or the Town's investment policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the Town's investment policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk.

This table does not address investments of debt proceeds held by bond trustees that are governed by the provisions of debt agreements of the Town, rather than the general provisions of the California Government Code or the Town's investment policy.

Investments Authorized by the California Government Code and the Town's Investment Policy Maximum
Maximum Investment
Maximum Percentage in One
Authorized Investment Tt~e Maturi!Y'. of Portfolio Issuer Local Agency Investment Fund (State Pool) N/A None $75 million U.S. Treasury Obligations N/A None None
U.S. Government Agency Issues N/A None None
Medium-term Corporate Notes 5 years 30% None
Insured Passbook on Demand Deposits with Banks
and Savings and Loans N/A None $250,000
Certificates of Deposit 2 years None $250,000
Foreign/Domestic 180 days 40% None
Mutual Funds (must be comprised of eligible
securities permitted under this policy) N/A None None
Money Market Funds (must be comprised of eligible
securities permitted under this policy) N/A None None
Cash Equivalents
For purposes of the statement of cash flows, the Town considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents. Proprietary fund types, cash and investments balances classified as Available for Operations are considered cash equivalents for purposes of the statement of cash flows.

Receivables and Payables
Activity between funds that is representative of lending/borrowing arrangements outstanding at the end of the fiscal year is referred to as either "due to/from other funds" (i.e., the current portion of interfund loans) or "advances to/from other funds" (i.e., the non-current portion of interfund loans).

All other outstanding balances between funds are reported as "due to/from other funds".

The Town has determined that an allowance for uncollectible is not necessary as all receivables have been deemed collectible.

Property taxes are levied as of March 1 on property values assessed as of the same date. State statutes provide that the property tax rate be limited generally to one percent of market value, be levied by only the county, and be shared by applicable jurisdictions. - 20 -
NOTE 1 -
Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
D. Assets. Liabilities and Net Position or Equity (continued) The County of San Mateo (the County) collects the taxes and distributes them to taxing jurisdictions based on assessed valuations subject to voter-approved debt. Property taxes are due on November 1 and March 1, and each installment becomes delinquent after December 10 and April 10, respectively. The Town receives property taxes pursuant to an arrangement with the County known as the "Teeter Plan". Under the plan, the County assumes responsibility for the collection of the delinquent taxes and pays the full allocation to the Town. The Town recognizes property tax revenues in the fiscal year in which they are levied for the Town.

Inventories and Prepaid Items
All inventories are valued at cost using the first-in/first-out (FIFO) method. Inventories of governmental funds are recorded as expenditures when purchased.

Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both the government-wide and fund financial statements.

Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure-type assets such as roads, bridges, sidewalks, and streetlights, are reported in the accompanying basic financial statements. They are reported in the applicable governmental-type activities columns in the government-wide financial statements.

Capital assets are defined by the government as assets with an initial, individual cost of more than $10,000 and an estimated useful life more than one year. Such assets are recorded at historical cost when available, or at estimated historical cost. Donated capital assets are recorded at acquisition value at the date of donation.

Major outlays for capital assets and improvements are capitalized as projects are constructed.

Property, plant, and equipment of the Town is depreciated using the straight-line method over the following estimated useful lives:

Assets
Buildings
Infrastructure - street system
Vehicles
Equipment
Improvements
Compensated Absences
Years
50 40-50
8 5-25
20 It is the government's policy to permit employees to accumulate earned but unused vacation and sick leave benefits. There is a liability for a portion of unpaid accumulated sick leave since the Town does have a policy to pay certain amounts when certain employees separate from service with the Town. All vacation and sick leave is accrued when incurred in the government-wide financial statements. The Town typically uses the General Fund to liquidate the majority of its compensated absences.

Deferred Outflows and Inflows of Resources
Pursuant to GASB Statement No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position, and GASB Statement No. 65, Items Previously Reported as Assets and Liabilities, the Town recognizes deferred outflows and inflows of resources.
- 21 -
NOTE 1 -
Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
D. Assets, Liabilities and Net Position or Equity (continued) In addition to assets, the statement of net position will sometimes report a separate section for deferred outflows of resources. A deferred outflow of resources is defined as a consumption of net position by the government that is applicable to a future reporting period.

In addition to liabilities, the statement of net position will sometimes report a separate section for deferred inflows of resources. A deferred inflow of resources is defined as an acquisition of net position by the Town that is applicable to a future reporting period.

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

Investments are reported at fair value.

Long-term Obligations
In the government-wide financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable government-type activities statement of net position.

Net Position
Government-wide net position consists of the following:

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

Unrestricted Net Position - This amount includes all net position that does not meet the definition of "invested in capital assets, net of related debt" or "restricted net position".

Net investment in Capital Assets - This category groups all capital assets into one component of net position. Accumulated depreciation and the outstanding balances of debt that are attributable to the acquisition, construction or improvement of these assets reduce the balance in this category.

Net Position Flow Assumption
Sometimes the government will fund outlays for a particular purpose from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. To calculate the amounts to report as restricted - net position and unrestricted - net position in the government-wide financial statements, a flow assumption must be made about the order in which the resources are applied. It is the government's policy to consider restricted - net position to have been depleted before unrestricted - net position is applied.

Governmental fund balance consists of the following:

Fund Equity
The accompanying basic financial statements reflect certain changes that have been made with respect to the reporting components of fund balances for governmental funds. In previous years, fund balances for governmental funds were reported in accordance with previous standards that included components for reserved fund balance, unreserved fund balance, designated fund balance, and undesignated fund balance. Due to the implementation of GASB Statement No. 54, the components of the fund balances of governmental funds now reflect the component classifications described below.
- 22 -
Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 23 -
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) D. Assets, Liabilities and Net Position or Equity (continued) In the fund financial statements, governmental fund balances are reported in the following classifications: Nonspendable fund balance includes amounts that are not in a spendable form, such as prepaid items or supplies inventories, or that are legally or contractually required to remain intact, such as principal endowments. Restricted fund balance includes amounts that are subject to externally enforceable legal restrictions imposed by outside parties (i.e., creditors, grantors, contributors) or that are imposed by law through constitutional provisions or enabling legislation. Committed fund balance includes amounts whose use is constrained by specific limitations that the government imposes upon itself, as determined by a formal action of the highest-level decision-making authority. The Town Council serves as the Town’s highest level decision-making authority and has the authority to establish, modify or rescind a fund balance commitment via minutes’ action. Assigned fund balance includes amounts intended to be used by the Town for specific purposes, subject to change, as established either directly by the Town Council or by management officials to whom the assignment authority has been delegated by the Town Council. Unassigned fund balance is the residual classification that includes the spendable amounts in the General Fund that are available for any purpose. Fund Balance Flow Assumption When expenditures are incurred for purposes for which both restricted and unrestricted (committed, assigned, or unassigned) fund balances are available, the Town’s policy specifies that restricted revenues will be applied first. When expenditures are incurred for the purposes for which committed, assigned, or unassigned fund balances are available, the Town’s policy is to apply committed fund balances first, then apply assigned fund balances, and finally unassigned fund balances. Stabilization Reserve The Town maintains a Budget Stabilization Reserve in an amount sufficient to ensure continuity of operations in the event of a severe economic downturn, which amount is hereby determined to be one hundred percent (100%), rounded to the nearest $100,000, of the General Fund expenditures for the prior fiscal year, excluding appropriations toward Accrued Leave Liability Reserve, OPEB contribution, and pension contribution. Accrued Leave Reserve The Town maintains an Accrued Leave Reserve committed for vacation payout (and sick leave when related to retirement) when an employee separates from the Town. The amount committed will be determined as part of the budget process. Litigation Reserve The Town maintains a Litigation Reserve, in the amount of $100,000, to pay the Town’s costs and attorneys’ fees necessary for the initiation or defense of new litigation authorized by the Town Council after adoption of a budget for the fiscal year in which the litigation commenced. Insurance Reserve The Town maintains an Insurance Reserve, in the amount of $100,000, to pay for any deductibles charged to the Town by its insurance carrier(s) not accounted for in the adopted budget.

NOTE 1 -
NOTE 2-
Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (concluded)
D. Assets, Liabilities and Net Position or Equity (concluded) Disaster Response and Recovery Reserve
The Town maintains a Disaster Response and Recovery Reserve, in the amount of $750,000, to pay the Town's costs of emergency repairs to or replacements of parts of the Town infrastructure damaged by any natural or man-made disaster, or to abate or prevent further damage to life or property.

Comparative Data
Certain amounts presented in the prior year data have been reclassified to be consistent with the current years' presentation.

Estimates and Assumptions
The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

RECONCILIATION OF GOVERNMENT-WIDE & FUND FINANCIAL STATEMENTS A. Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position
The governmental fund balance sheet includes reconciliation between fund balance - total governmental funds and net position - governmental activities as reported in the government-wide statement of net position. One element of that reconciliation explains, "capital assets are not financial resources and are not reported in the funds." The details of this difference are as follows:

Capital assets
Less: accumulated depreciation
Net adjustment to increase fund balance - total governmental funds to arrive at net position - governmental activities $ 79,592,233
(23,043,539)
$ 56 548 694
Another element of the reconciliation explains that "long-term liabilities" are not due and payable in the current period and are therefore not reported in the funds. The details are as follows:

Long-Term Debt Obligations:

Deferred outflows - pension
Deferred outflows - OPEB
Deferred inflows - pension
Deferred inflows - OPEB
Compensated absences
Certificates of participation
Net other post-employment benefit obligation
Net pension liability
Net adjustment to decrease fund balance - total governmental funds to arrive at net position - governmental activities - 24-
$ 7,823,838
3,128,643
(1,116,251)
(1,265,859)
(1,480,705)
(4,295,000)
(11,225,599)
(12,680,571)
$ (21 111 504)
NOTE 3-
NOTE 4-
Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023

STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Budgetary Information
Annual budgets are adopted on a basis consistent with U.S. generally accepted accounting principles for all funds. All annual appropriations lapse at fiscal year-end. Before the end of each fiscal year, all departments of the Town submit requests to the Town Manager so that a budget may be prepared. Before June 30, the proposed budget is presented to the Town Council for review. The Town Council holds public hearings, and a final budget must be prepared and adopted no later than June 30.

The budget is prepared by fund, function, and department. The legal level of budgetary control (i.e., the level at which expenditures may not legally exceed appropriations) is the fund level.

Expenditures for capital projects or the creation of additional positions require the specific authorization of the Town Council. Encumbrance accounting is not employed.

DETAILED NOTES ON ALL FUNDS
A. Cash and Investments
The Town maintains a cash and investment pool for all funds. Certain restricted funds that are held and invested by independent outside custodians through contractual agreements are not pooled.

These restricted funds include cash and investment held by trustees.

Cash and investments as of June 30, 2023, are classified in the accompanying financial statements as follows:

Statement of Net Position:

Cash and investments
Restricted cash and investments
Total cash and investments
Demand deposits
Local Agency Investment Fund (LAIF)
Public Agency Retirement Services
Certificates of Deposit
Money Market Savings
San Mateo Co. Treasurer's Investment Pool
Total
Interest Rate Risk
Maturity 12
Months or less
$ 9,346,071
2,175,333
3,584,994
3,372,210
386
16,020,760
$ 34 499 754
$
13-24
Months
- $
1,241,000
25-60
Months
$ 32,155,374
3,585,380
$ 35 740 754
Total
- $ 9,346,071
2,175,333
3,584,994
4,613,210
386
16,020,760
$ 1 241 000 ,!!!,$====- $35 740 754
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of the Town's investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. Information about the sensitivity of the fair values of the Town's investments (including investments held by bond trustees) to market interest rate fluctuations is provided by the above table that shows the distribution of the Town's investments by maturity or earliest call date.
- 25 -
NOTE 4-
Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023
DETAILED NOTES ON ALL FUNDS (continued)
A. Cash and Investments (continued)
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 deposits and 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 requires California banks and savings and loan associations to secure an entity's deposits by pledging government securities with a value of 110% of an entity's deposits. California law also allows financial institutions to secure entity deposits by pledging first trust deed mortgage notes having a value of 150% of an entity's total deposits. The entity's Treasurer may waive the collateral requirement for deposits which are fully insured up to $250,000 by the FDIC. The collateral for deposits in federal and state-chartered banks is held in safekeeping by an authorized agent of depository recognized by the State of California Department of Banking.

The collateral for deposits with savings and loan associations is generally held in safekeeping by the Federal Home Loan Bank in San Francisco, California as an agent of depository. These securities are physically held in an undivided pool for all California public agency depositors.

At June 30, 2023 none of the Town's deposits or investments were exposed to custodial credit risk.

The Town does not invest in reverse repurchase agreements. Trustees under bond indentures may also invest in guaranteed investment contracts.

The Town's investments are carried at fair value instead of cost, as required by U.S. generally accepted accounting principles. The Town adjusts the carrying value of its investments to reflect their fair value at each fiscal year end, and it includes the effects of these adjustments in income for that fiscal year.

The Town is a participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California.

The Town reports its investment in LAIF at the amortized costs provided by LAIF, which is the same as the value of the pool share. The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis, which approximates fair value. Each regular LAIF account is permitted to have up to 15 transactions per month, with a minimum transaction amount of $5,000, a maximum transaction amount of $75 million and at least 24 hours advance notice for withdrawals of $10 million or more. Bond proceeds accounts are subject to a one-time deposit with no cap and are set up with a monthly drawdown schedule. Included in LAI F's investment portfolio are collateralized mortgage obligations, mortgage­ backed securities, other asset-backed securities, loans to certain state funds, and floating rate securities issued by federal agencies, government-sponsored enterprises, United States Treasury Notes and Bills, and corporations. On June 30, 2023, these investments matured in an average of 220 days.

The Town maintains specific cash deposits with the County and voluntarily participates in the external investment pool of the County. The County is restricted by state code in the types of investments it can make. Furthermore, the County Treasurer has a written investment policy, approved by the Board of Supervisors, which is more restrictive than state code as to terms of maturity and type of investment. Also, the County has an investment committee that performs regulatory oversight for its pool as required by California Government Code Section 27134. - 26 -
NOTE 4-
Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023
DETAILED NOTES ON ALL FUNDS (continued)
A. Cash and Investments (concluded)
Each volunteer participant's account in the County investment pool is limited to only a 12% per month transfer or withdrawal out of the account. The balance available for withdrawal is based on the accounting records maintained by the County, which are recorded on an amortized cost basis, which approximates fair value.

Of the Town's total investments in the County external investment pool 24% were T-Notes, 54% were government agency notes and 12% were corporate bonds. The remaining 10% were invested in money market funds, certificates of deposit and commercial paper.

The County's investment policy authorizes the County to invest in obligations of the U.S. Treasury, its agencies and instrumentalities, certificates of deposit, commercial paper rated A-1 by Standard & Poor's Corporation or P-1 by Moody's Commercial Paper Record, bankers' acceptances, repurchase agreements, and the State Treasurer's investment pool.

At June 30, 2023, the Town's cash with the County Treasurer is stated at fair value. However, the value of the pool shares in the County that may be withdrawn is determined on an amortized cost basis, which is different than the fair value of the Town's position in the pool.

Fair Value Measurements
GASB Statement No. 72, Fair Value Measurements and Application, establishes a fair value hierarchy consisting of three broad levels: Level 1 inputs consist of quoted prices (unadjusted) for identical assets and liabilities in active markets that a government can access at the measurement date, Level 2 inputs consist of inputs other than quoted prices that are observable for an asset or liability, either directly or indirectly, that can include quoted prices for similar assets or liabilities in active or inactive markets, or market-corroborated inputs, and Level 3 inputs have the lowest priority and consist of unobservable inputs for an asset or liability. The valuation method used for rental properties is the Leased Fee Market method, which is dependent on the income generated from the rental properties.

The Town did not have any investments subject to the recurring fair value measurements as of June 30, 2023.

Credit Risk
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. The actual ratings as of June 30, 2023 are provided by Standard and Poor's except as noted.

Investment Type
Not rated:

Money Market Savings Account
California Local Agency Investment Fund
San Mateo County Treasurer's Investment Pool
Public Agency Retirement Services
Cash in banks and on hand
Certificates of Deposit
Total cash and investments
- 27 -
Total
$ 386
2,175,333
16,020,760
3,584,994
9,346,071
4,613,210
$ 35 740 754
Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 28 -
NOTE 4 - DETAILED NOTES ON ALL FUNDS (continued) B. Receivables Receivables as of year-end for the government’s individual major and nonmajor funds in the aggregate were as follows: General Town Capital Projects Fund Nonmajor Funds Business- Type Funds Total Receivables: Interest $ 145,663 $ - $ - $ - $ 145,663 Taxes 3,636,566 - - - 3,636,566 Accounts 753,336 461 107,124 24,228 885,149 Net total receivables $ 4,535,565 $ 461 $ 107,124 $ 24,228 $ 4,667,378 C. Capital Assets Capital asset activity for the year ended June 30, 2023 was as follows: Beginning Balance Increases Decreases Ending Balance Governmental activities: Capital assets, not being depreciated: Land $ 6,589,376 $ - $ - $ 6,589,376 Construction in progress 205,820 1,573,942 1,259,037 520,725 Total capital assets, not being depreciated 6,795,196 1,573,942 1,259,037 7,110,101 Capital assets, being depreciated Buildings 34,554,590 45,745 - 34,600,335 Improvements other than buildings 3,784,093 391,719 - 4,175,812 Machinery and equipment 3,676,607 207,942 - 3,884,549 Infrastructure - street systems 29,225,909 595,527 - 29,821,436 Total capital assets, being depreciated 71,241,199 1,240,933 - 72,482,132 Less accumulated depreciation for: Buildings (6,198,360) (691,031) - (6,889,391) Improvements other than buildings (2,680,090) (136,095) - (2,816,185) Machinery and equipment (2,389,326) (274,766) - (2,664,092) Infrastructure - street systems (10,130,302) (543,569) - (10,673,871)Total accumulated depreciation (21,398,078) (1,645,461) - (23,043,539)Total capital assets, being depreciated, net 49,843,121 (404,528) - 49,438,593 Governmental activities capital assets net $56,638,317 $ 1,169,414 $ 1,259,037 $56,548,694 Depreciation expense was charged to functions/programs of the Town as follows: Governmental activities: Public works $ 625,660 General government 542,217 Public safety 272,537 Planning 2,911 Recreation 202,136 Total depreciation expense - governmental activities $ 1,645,461 Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 29 -
NOTE 4 - DETAILED NOTES ON ALL FUNDS (continued) C. Capital Assets (concluded) Depreciation expense was charged to functions/programs of the Town as follows: Business-type activities: Sewers $ 21,983 Town properties 75,267 Total depreciation expense - business-type activities $ 97,250 D. Interfund Receivables, Payables and Transfers Interfund transfers at June 30, 2023 were as follows: Transfers In Transfers Out General Fund $ - $ 3,956,083 Local law enforcement 41,728 - Improvement Capital Projects Fund 2,672,997 - Debt service 295,609 - Gas tax - 45,450 Measure A - 71,669 Measure W - 31,950 Town Capital Projects Fund 833,170 - Sewer Fund 261,648 - Totals $ 4,105,152 $ 4,105,152 The transfers out of the General Fund were made for the purpose of financing Street Improvement Capital Projects, Sewer operations and debt service undertaken during the fiscal year.

Beginning Ending Balance Increases Decreases Balance Business-type activities: Capital assets, not being depreciated: Land $ 1,006,095 $ - $ - $ 1,006,095 Total capital assets, not being depreciated: 1,006,095 - - 1,006,095 Capital assets being depreciated: Buildings 2,615,156 - 232,056 2,383,100 Infrastructure 380,910 - - 380,910 Total capital assets, being depreciated 2,996,066 - 232,056 2,764,010 Less accumulated depreciation for: Buildings (1,546,869) (75,267)(232,056) (1,390,080) Infrastructure (205,042) (21,983) - (227,025) Total accumulated depreciation (1,751,911) (97,250) (232,056) (1,617,105) Total capital assets, being depreciated, net 1,244,155 (97,250) - 1,146,905 Business-type activities capital assets net $ 2,250,250 $ (97,250) $ - $ 2,153,000 Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 30 -
NOTE 4 - DETAILED NOTES ON ALL FUNDS (concluded) E. Long-Term Debt Governmental Activities: Changes in Long-Term Liabilities Long-term debt activity for the 2023 fiscal year was as follows: Beginning Balances Additions Reductions Ending Balances Due Within One Year Certificates of Participation $ 4,425,000 $ - $ 130,000 $ 4,295,000 $ 135,000 Net OPEB 11,061,019 164,580 - 11,225,559 - Net Pension Liability 5,133,608 7,546,963 - 12,680,571 - Compensated absences 1,584,523 - 103,818 1,480,705 183,266 Totals $22,204,150 $ 7,711,543 $ 233,818 $29,681,875 $ 318,266 Certificates of Participation On September 24, 2015, the Town issued $5.3 million in Certificates of Participation through Stifel, Nicolaus & Company, Incorporated. The funds and debt service payments are administered under a Trustee Agreement with Bank of New York Mellon. This financing will be used to fund a portion of the Town Hall renovation project. The certificates bear interest at variable rates from 0.38% to 4.12% and payments are due on each May 1. The annual requirements to amortize the debt outstanding as of June 30, 2023, including interest payments, are as follows: Period Ending June 30, Principal Interest Total 2024 $ 135,000 $ 160,669 $ 295,669 2025 135,000 156,619 291,619 2026 140,000 151,219 291,219 2027 145,000 146,319 291,319 2028 150,000 141,969 291,969 2029-2033 835,000 632,601 1,467,601 2034-2038 1,000,000 467,915 1,467,915 2039-2043 1,205,000 258,200 1,463,200 2044-2045 550,000 33,200 583,200 Total $ 4,295,000 $ 2,148,711 $ 6,443,711 NOTE 5 - OTHER INFORMATION A. Risk Management The Town is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters for which the Town obtains insurance coverage. The Town is a member of the ABAG PLAN Corporation (PLAN), which provides a pooled risk sharing insurance program. The PLAN provides the Town with insurance coverage of $15 million per loss for liability claims. The Town has a $50,000 self-insurance retention limit similar to a deductible. The PLAN insurance has two different layers of coverage. Layer 1 is a $5 million self-insured layer shared by participants; Layer 2 is commercial excess insurance coverage for $10 million beyond the $5 million PLAN coverage. The PLAN also provides the Town with $1 million pooled employee dishonesty coverage.

Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023

- 31 -
NOTE 5 - OTHER INFORMATION (continued)

A. Risk Management (concluded)

Property coverage is also provided by the PLAN with the Town having a $10,000 deductible. The PLAN provides the coverage using a self-insured pool to cover losses up to $100,000. The PLAN purchases an insurance policy to cover losses above its $100,000 self-insured retention with a per occurrence coverage for all members combined up to $1 billion. Workers’ compensation insurance is provided to the Town by EIA (Entity Insurance Authority) at statutory coverage limits, without a deductible. The Town had no significant changes in insurance coverage during the year. For the Fiscal Year ending June 30, 2023, the Town incurred liability claims expenses totaling $73,362.

There was one open claim as of June 30, 2023.

B. Contingencies and Commitments

Litigation
The Town is involved in litigation incurred in the normal course of conducting Town business. Town management believes, based upon consultation with its counsel, that these cases, in the aggregate, are not expected to result in a material adverse financial impact on the Town.

Disallowed Claims
Amounts received or receivable from grant agencies are subject to audit and adjustment by grantor agencies. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the government expects such amounts, if any, to be immaterial.

C. Public Employees Retirement System

Plan Description - Based on PERS eligibility criteria all qualified permanent and probationary employees are eligible to participate in the Town’s following cost-sharing multiple employer defined benefit pension plans (Plans):

Town Miscellaneous (Tier 1)
Town Miscellaneous (Tier 2)
Town Miscellaneous (Tier 3 - PEPRA)
Town Safety (Tier 1)
Town Safety (Tier 2)
Town Safety (Tier 3 - PEPRA)

The Plans are administered by the California Publ ic Employees’ Retirem ent System (CalPERS).

Benefit provisions under the Plans are established by State statute and Town 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 the 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 with statutorily reduced benefits.

•
•
•
•
•
•
Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 32 -
NOTE 5 - OTHER INFORMATION (continued) C. Public Employees Retirement System (continued) All members are eligible for non-duty disability benefits after 10 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. The cost-of-living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law. The applicable PERS plan depends on the employee classification and hire date. In some situations, hiring of an employee who was previously an active member in PERS results in the “Classic” Plan benefit regardless of the date of hiring. The Plan provisions and benefits in effect at June 30, 2023, are summarized as follows: The Town’s Miscellaneous and Safety Rate Plans are part of the public agency cost-sharing multiple-employer defined benefit pension plan (PERF C), which is administered by the California Public Employees’ Retirement System (CalPERS). PERF C consists of a miscellaneous pool and a safety pool (also referred to as “risk pools”), which are comprised of individual employer miscellaneous and safety rate plans, respectively. Individual employers may sponsor more than one miscellaneous and safety rate plan. The employer participates in one cost-sharing multiple-employer defined benefit pension plan regardless of the number of rate plans the employer sponsors. The Town sponsors six rate plans (three miscellaneous and three safety).

Town Miscellaneous Hire date Prior to August 1, 2012 8/1/2012 – 12/31/2012 (or “Classic”) On or after January 1, 2013 Benefit formula 2.5% @ 55 2% @ 60 2% @ 62 Benefit vesting schedule 5 years’ service 5 years’ service 5 years’ service Benefit payments monthly for life monthly for life monthly for life Retirement age 50 - 55 50 - 63 52 - 67 Monthly benefits, as a % of eligible compensations 2.0% to 2.5% 1.091% to 2.418% 1.0% to 2.5% Required employee contribution rates 8% 7% 6.25% Required employer contribution rates 19.176% 8.005% 6.25% Town Safety Hire date Prior to January 1, 2012 On or after January 1, 2012 (or “Classic”) On or after January 1, 2013 Benefit formula 3% @ 50 3% @ 55 2.7% @ 57 Benefit vesting schedule 5 years’ service 5 years’ service 5 years’ service Benefit payments monthly for life monthly for life monthly for life Retirement age 50 - 55 50 - 55 50 - 57 Monthly benefits, as a % of eligible compensations 3% 2.4 to 3% 2.0% to 2.7% Required employee contribution rates 9% 9% 11.5% Required employer contribution rates 34.595% 20.774% 11.5% Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 33 -
NOTE 5 - OTHER INFORMATION (continued) C. Public Employees Retirement System (continued) Contributions - Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The Town is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. In fiscal year 2015, the Town established a Section 115 irrevocable trust with the Public Agency Retirement Systems (PARS). As of June 30, 2023 the Town reported the account balance of $3,584,994 as restricted investments in the General Fund. For the year ended June 30, 2023, the contributions recognized as part of pension expense for each Plan were as follows. As of June 30, 2023, the Town reported net pension liabilities for its proportionate shares of the net pension liability of the Miscellaneous and Safety Plans as follows: The Town’s net pension liability for the Plans is measured as a proportionate share of the net pension liability. The net pension liability of the Plans is measured as of June 30, 2022, and the total pension liability for each Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2021 rolled forward to June 30, 2022 using standard update procedures. The Town’s proportion of the net pension liability was based on a projection of the Town’s long-term share of contributions to the pension plans relative to the projected contributions of all participating employers, actuarially determined. The Town’s proportionate share of the net pension liability for each Plan as of June 30, 2021 and 2022 was as follows:

Total Miscellaneous Employer Contributions $501,650 Total SafetyEmployer Contributions $2,209,945 Proportionate Share of Net Pension Liability Miscellaneous $ 2,646,844 Safety 10,033,727 Total Net Pension Liability $ 12,680,571 Town Miscellaneous Plan Miscellaneous Proportion - June 30, 2022 .057% Proportion - June 30, 2023 .058% Change – Increase (Decrease) 0.01% Town Safety Plan Safety Proportion - June 30, 2022 .146% Proportion - June 30, 2023 .129% Change – Increase (Decrease) (.017%) Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 34 -
NOTE 5 - OTHER INFORMATION (continued) C. Public Employees Retirement System (continued) For the year ended June 30, 2023, the Town recognized pension expense of $2,805,843. At June 30, 2023, the Town reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: $2,711,595 reported as deferred outflows of resources related to contributions after measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2024. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows: Actuarial Assumptions - For the measurement period ended June 30, 2022, the total pension liability was determined by rolling forward the June 30, 2021 total pension liability. The June 30, 2022 total pension liability was based on the following actuarial methods and assumptions: (1) The mortality table used was developed based on CalPERS’ specific data. The table includes 15 years of mortality improvements using Society of Actuaries Scale 90% of scale MP 2016. For more details on this table, please refer to the CalPERS 2017 experience study report (based on CalPERS demographic data from 1997 to 2015) available on CalPERS website. Changes of Assumptions – There were no changes of assumptions for measurement date June 30, 2022.

Deferred Outflows of Resources Deferred Inflows of Resources Pension contributions subsequent to measurement date $ 2,711,595 $ - Differences between actual and expected experience 468,413 144,558 Changes in assumptions 1,282,928 - Net differences between projected and actual earnings on plan investments 2,069,297 - Change in proportions and differences between actual Contributions and proportionate share of contributions 1,291,604 971,692 Total $ 7,823,837 $ 1,116.250 Year Ended June 30 2024 $ 1,183,562 2025 991,218 2026 558,128 2027 1,263,084 Total $ 3,995,992 Valuation Date June 30, 2021 Measurement Date June 30, 2022 Actuarial Cost Method Entry-Age Normal Cost Method Actuarial Assumptions: Discount Rate 6.90% Inflation 2.50% Projected Salary Increase Varies by Entry Age and Service Mortality Derived using CalPERS Membership Data for all Funds (1) Post Retirement Benefit Contract COLA up to 2.75% until purchasing power Increase protection allowance floor on power applies, 2.75% thereafter Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 35 -
NOTE 5 - OTHER INFORMATION (continued) C. Public Employees Retirement System (continued) Discount Rate – The discount rate used to measure the total pension liability was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability. 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 as well as the expected pension fund cash flows. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11+ years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits of cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses. The expected real rates of return by asset class are as follows: Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate - The following presents the Town’s proportionate share of the net pension liability for each Plan, calculated using the discount rate for each Plan, as well as what the Town’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:

Asset Class Assumed Asset Allocation Real Return Years 1-10 1,2 Global equity – cap-weighted 30.00% 4.45% 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% 1. An expected inflation of 2.30% used for this period. 2. Figures are based on the 2021-22 Asset Liability Management study.

Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 36 -
NOTE 5 - OTHER INFORMATION (continued) C. Public Employees Retirement System (concluded) Amortization of Deferred Outflows and Deferred Inflows of Resources - Under GASB 68, gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time. The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions and are to be recognized in future pension expenses. The amortization period differs depending on the source of the gain or loss: Difference between projected and actual earnings - 5-year straight-line amortization All other amounts - Straight-line amortization over the average expected remaining services lives of all members that are provided with benefits (active, inactive, and retired) as of the beginning of the measurement period. The expected average remaining service lifetime (EARSL) is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired) in the Public Agency Cost-Sharing Multiple-Employer Plan (PERF C). The EARSL for PERF C for the measurement period ending June 30, 2021, is 3.7 years, which was obtained by dividing the total service years of 561,622 (the sum of remaining service lifetimes of the active employees) by 150,648 (the total number of participants: active, inactive, and retired) in PERF C. Inactive employees and retirees have remaining service lifetimes equal to 0. Total future service is based on the members’ probability of decrementing due to an event other than receiving a cash refund. Pension Plan Fiduciary Net Position - Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports. D. Fund Balance for Governmental Funds Portions of the unassigned fund balance in the fund financial statements may be assigned to indicate tentative plans for financial resources being utilized in a future period, such as for general contingencies or capital projects. Such plans are subject to change, have not been legally authorized, and may not result in expenditure.

Miscellaneous Safety 1% Decrease 5.90% 5.90% Net Pension Liability $4,655,053 $15,600,700 Current Discount Rate 6.90% 6.90% Net Pension Liability $2,646,844 $10,033,727 1% Increase 7.90% 7.90% Net Pension Liability $994,587 $5,483,984 Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 37 -
NOTE 5 - OTHER INFORMATION (concluded) D. Fund Balance for Governmental Funds (concluded) General Fund Capital Improvement Project Fund Other Governmental Funds Total Non-spendable: Prepaid items $ - $ - $ - $ - Restricted: Restricted Pension trust 3,584,994 - - 3,584,994 Debt Service - - 386 386 Capital improvements - - Measure A - - 162,816 162,816 Measure W - - 92,622 92,622 Gas Tax - - 113,642 113,642 Housing impact Fee - - 280,475 280,475 Law enforcement - - 165 165 Public Safety Grant - - 21,315 21,315 Total 3,584,994 - 671,421 4,256,415 Committed fund balances: Debt service costs 600,000 - - 600,000 Compensated absences 1,064,098 - - 1,064,098 General & Economic reserve 15,000,000 - - 15,000,000 Total 16,664,098 - - 16,664,098 Assigned Fund Balances: Litigation 100,000 - - 100,000 Insurance 100,000 - - 100,000 Capital improvements - 2,954,690 2,651,976 5,606,666 Disaster response 750,000 - - 750,000 Total 950,000 2,954,690 2,651,976 6,556,666 Unassigned Fund Balance: General Fund 9,535,127 - - 9,535,127 Grand Total $ 30,734,219 $ 2,954,690 $ 3,323,397 $ 37,012,306 NOTE 6 - DEFERRED COMPENSATION PLAN The Town employees may defer a portion of their compensation under a Town sponsored Deferred Compensation Plan (the Plan) created in accordance with Internal Revenue Code Section 457. Under this Plan, participants are not taxed on the deferred portion of the compensation until it is distributed to them; distributions may be made only at termination, retirement, death or in an emergency as defined by the Plan. Separate from any amounts that employees voluntarily defer, regular employees are eligible to receive a $100 monthly matching contribution made to the Plan as a benefit by the Town. A total of 36 employees received this benefit during the fiscal year ending June 30, 2023. The Town’s contributions towards this benefit for the fiscal year ended June 30, 2023 were $39,100.

Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 38 -
NOTE 7 - POST-EMPLOYMENT BENEFITS OTHER THAN RETIREMENT The laws governing the Plan assets require Plan assets to be held by a Trust for the exclusive benefits of Plan participants and their beneficiaries. Since the assets held under this Plan are not the Town’s property, are not managed by the Town and are not subject to claims by general creditors of the Town, they have been excluded from these financial statements. Other Post-employment Benefits Other Than Pensions (OPEB) For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense information about the fiduciary net position of the Town’s Retiree Benefits Plan (the Plan) and additions to/deductions from the Plan’s fiduciary net position have been determined on the same basis as they are reported by the Plan. For this purpose, the Plan recognizes benefit payments when due and payable in accordance with the benefit terms. Plan Description Benefit Tier A covers POA and PCR employees hired before May 31, 2008, and General employees hired before July 1, 2012. The Town pays 100% of medical premiums. Benefit Tier B covers General employees hired between July 1, 2012, and March 31, 2017, and POA and PCR employees hired after June 1, 2008, but before June 30, 2012. The Town pays the medical premium multiplied by a vesting percentage, ranging from 50% for those with at least 10 years of service to 100% for those who have 20 or more years of service. Benefit Tier C covers POA and PCR employees hired between July 1, 2012, and March 31, 2017. Benefits are the same as Tier B, but the maximum paid by the Town is capped at the highest of the second most costly plan. Benefit Tier D for General, POA, and PCR employees hired after April 1, 2017, the Town pays the PEMHCA minimum for those enrolled in a CalPERS medical plan. As stated in the memorandums of understanding with the POA and PCR, the start date for this Tier was January 1, 2017. The implementation of the required plans delayed the implementation to April 1, 2017. No new employees were eligible between January 1, 2017, and March 31, 2017. The Town pays 100% of the dental premiums for General employees and PCR employees hired before May 1, 2010, and for POA employees hired before June 1, 2008. Employee benefits are governed by the Town Council. Employees Covered by Benefit Terms On June 30, 2022 (the measurement date), the benefit terms covered the following employees: Category Count Inactive employees, spouses, or beneficiaries currently receiving benefit payments: 40 Inactive employees entitled to but not yet receiving benefit payments: 0 Active employees: 48 Total 88 Contributions The Town makes contributions based on an actuarially determined rate. Reporting period contributions $1,385,258 (includes implicit subsidy credit.) Financial Report The Town issues a stand-alone financial report that is available to the public. The report is available at: //www.colma.ca.gov/departments/finance/ Town of Colma

NOTES TO BASIC FINANCIAL STATEMENTS
June 30, 2023

- 39 -
NOTE 7 - POST-EMPLOYMENT BENEFITS OTHER THAN RETIREMENT (continued)

Net OPEB Liability
The Town’s total OPEB liability was valued as of Ju ne 30, 2022 and was used to calculate the net OPEB liability measured as of June 30, 2022.

Actuarial Assumptions
The total OPEB liability in the June 30, 2022 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise specified:

Measurement Date:

June 30,
2022
June 30,
2021

Discount Rate 5.00% 4.97%
Investment Rate of Return 5.00% 4.97%
Inflation 2.30% 5.50%
Healthcare Cost Trend Rates
Pre-Medicare 6.5% 6.5%* *Trending down to 4.04% over 55 years.

Applies to calendar years. Medicare 4.0% 4.0%*
Salary Increases

2.80% 2.75%**

**Additional merit-based increases based
on CalPERS merit salary increase tables.

Mortality Rates Based on CalPERS tables.

Projections of the sharing of benefit-related costs are based on an established pattern of practice.

Experience studies come from the CalPERS Pension Assumption Model, revised May 14, 2018.

Inactive employees (retirees) pay the cost of benefits more than the Town’s contribution.

There were no ad hoc postemployment benefit changes (including ad hoc COLAs) to the plan.

There were no changes between the measurement date and the report date that are expected to have a significant effect on the total OPEB liability.

Discount Rate
GASB 75 allows the use of a discount rate that is up to the expected long-term rate of return on the assets in the Trust set aside to pay benefits, if the plan sponsor makes regular contributions to the Trust such that the assets are not depleted at any point in the future. If the Plans’ actuary determines that contributions are not sufficient to keep the Trust funded, a blend of the long-term rate of return and the yield or index rate for 20-year, tax-exempt municipal bonds will be used for the periods when the Trust funds are not sufficient to cover benefit payments. Based on this requirement, and with the approval of the plan sponsor, the discount rate used to measure the total OPEB liability is 5.00%

Long-Term Expected Real Rate of Return
The long-term expected rate of return is determined using the long-term rates of return that reflects the long term expected rate of return on OPEB investments and the yield rate for the 20-year tax exempt general obligation municipal bonds with a rating of AA/Aa or higher.

Asset Class
Target
Allocation
Asset Class
Expected Return
Equity 29% 4.38%
Fixed Income 65% 1.09%
Real Estate 1% 3.54%
Cash 5% (0.45 )%
Total/Average 100%
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•
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•
Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 40 -
NOTE 7 - POST-EMPLOYMENT BENEFITS OTHER THAN RETIREMENT (continued) Expected Average Remaining Service Lives (EARSL) The effects on the total OPEB liability of (1) changes of economic and demographic assumptions or of other inputs and (2) differences between expected and actual experience are required to be included in OPEB expense in a systematic and rational manner over a closed period equal to the average of the expected remaining service lives of all employees that are provided with benefits through the OPEB plan (active employees and inactive employees), beginning in the current period. The expected average remaining service lives (EARSL) for the current period follows. Note, however, that for calculation purposes, we use 1.0 when calculating amortizations if the EARSL is less than 1 year. EARSL: 5.2 years Changes in the Net OPEB Liability Total OPEB Liability Service cost $ 487,138 Interest 832,569 Benefit payments, included refunds of employee contributions (1,029,468) Change in assumptions (47,315) Difference between actual and expected experience (110,175) Implicit Subsidy Credit - Net change in total OPEB liability 132,749 Total OPEB liability - beginning of year 16,773,253 Total OPEB liability - end of year $ 16,906,002 Plan Fiduciary Net Position Net investment income $ (726,478) Contributions - Employer 1,757,297 Benefit payments, included refunds of employee contributions (1,029,468) Implicit Subsidy Credit - Administrative expense (33,182)Net change in plan fiduciary net position (31,831)Plan fiduciary net position - beginning of year 5,712,234 Plan fiduciary net position - end of year $ 5,680,403 Town's net OPEB liability - end of year $ 11,225,599 Sensitivity of Liabilities to Changes in the Discount Rate and Healthcare Cost Trent Rate Sensitivity of the total and net OPEB liability to changes in the discount rate. The total and net OPEB liability of the Town, as well as what the Town’s total and net OPEB liability would be if they were calculated using a discount rate that is one percentage point lower (4.00%) or one percentage point higher (6.00%) follows: 1% Decrease (4.00%) Discount Rate (5.00%) 1% Increase (6.00%) Total OPEB Liability (Asset) $ 13,362,906 $ 11,225,599 $ 9,463,014 Sensitivity of the total OPEB liability to changes in the healthcare cost trend rates. The healthcare trend for this valuation started at 6.50% and decreased to 4.04% over 56 years. The total OPEB liability of the Town, as well as what the Town’s total OPEB liability would be if it were calculated using healthcare cost trend rates that are one percentage point lower (5.60%) or one percentage point higher (7.60%) than current healthcare cost trend rates follows:

Town of Colma NOTES TO BASIC FINANCIAL STATEMENTS June 30, 2023 - 41 -
NOTE 7 - POST-EMPLOYMENT BENEFITS OTHER THAN RETIREMENT (concluded) 1% Decrease (5.60%) Trend Rate (6.60%) 1% Increase (7.60%) Total OPEB Liability (Asset) $ 9,304,698 $ 11,225,599 $ 13,575,319 OPEB Expense and Deferred Inflows and Outflows of Resources Related to OPEB For the year ended June 30, 2023, the Town recognized an OPEB expense of $849,009. The Town reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: $2,056,978 reported as deferred outflows of resources related to contributions after measurement date will be recognized as a reduction of the net OPEB liability in the year ended June 30, 2024. Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: Fiscal Year Ended 2024 $ (228,449) 2025 (215,707) 2026 82,536 2027 193,671 2028 (26,245) NOTE 8 - PRIOR PERIOD ADJUSTMENT The California committee on municipal accounting issued a white paper on implementing GASB 75. The whitepaper concluded OPEB Trusts assets of $5,607,591 should not be reported in the Town’s financial statements. The prior period adjustment corrected the recording of the assets in compliance with the interpretation.

Deferred Outflows of Resources Deferred Inflows of Resources Contributions after measurement date $ 2,056,978 $ - Differences between actual and expected experience 503,424 619,070 Changes of assumptions 25,063 646,789 Net difference between projected and actual earnings on OPEB plan investments 543,178 - Total $ 3,128,643 $ 1,265,859

REQUIRED SUPPLEMENTARY INFORMATION
Town of Colma

REQUIRED SUPPLEMENTARY INFORMATION

BUDGETARY COMPARISON SCHEDULE - GENERAL FUND
For the Year Ended June 30, 2023
(UNAUDITED)
Budgeted
Amounts Actual
Original Final Amounts

REVENUES
Sales tax $ 13,081,000 $ 13,081,000 $ 14,850,496
Cardroom tax 4,200,000 4,200,000 4,145,418
Property and other taxes 641,374 641,374 818,444
Other taxes 146,816 146,816 81,050
Licenses and permits 308,106 308,106 285,666
Fines and forfeits 86,000 86,000 124,882
Intergovernmental 2,348,396 2,348,396 59,431
Other revenues 77,677 77,677 136,356
Charges for services 1,016,991 1,016,991 82,101
Investment income (loss) 503,807 503,807 556,218
Total revenues 22,410,167 22,410,167 21,140,062

EXPENDITURES
Current:

General government 4,869,563 4,869,563 4,455,145
Public safety 9,009,798 9,009,798 9,438,279
Public works 2,778,162 2,778,162 2,111,307
Planning 749,370 749,370 567,485
Recreation 1,070,866 1,070,866 1,214,784
Total expenditures 18,477,759 18,477,759 17,787,000
Excess (deficiency) of
revenues over expenditures 3,932,408 3,932,408 3,353,062

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out (4,067,781) (4,067,781) (3,956,083)
Total other financing sources (uses) (4,067,781) (4,067,781) (3,956,083) Net change in fund balance $ (135,373) $ (135,373) (603,021) Fund balance, beginning of period 36,944,831
Prior period adjustment (5,607,591)
Fund balances, beginning of period restated 31,337,240
Fund balance, end of period $ 30,734,219
-42 -
Variance with
Final Budget
$ 1,769,496
(54,582)
177,070
(65,766)
(22,440)
38,882
(2,288,965)
58,679
(934,890)
52,411
(1,270,105)
414,418
(428,481)
666,855
181,885
(143,918)
690,759
(579,346)
111,698
111,698
$ (467,648)
Town of Colma
Required Supplementary Information (Unaudited)

NOTES TO THE BUDGETARY COMPARISON SCHEDULE
For the Fiscal Year Ended June 30, 2023
Town of Colma follows these procedures in establishing the operating budgetary data reflected in the financial statements:
• Prior to June 30, the Town Manager submits to the Town Council a proposed annual operating budget for the fiscal year commencing the following July 1. The operating budget includes proposed expenditures and the means for financing them. Public hearings are conducted to obtain taxpayer comments.
• The budget is legally enacted through passage of a resolution during a regular Town Council meeting in the month of June.
• The Town Manager may transfer budgeted amounts within a fund; however, any revision that alters the total expenditure of any fund must be approved by the Town Council. • Formal budgetary integration is employed as a management control device during the year for the General Fund, Special Revenue Funds and Enterprise Funds. These are the only funds with legally adopted budgets.
• Budgets are adopted on a basis consistent with US. GAAP, except for Capital Project Fund expenditures, which are budgeted for the life of the project. • Budgeted amounts are as originally adopted or as amended by the Town Council. • Encumbrance accounting is employed as an extension of formal budgetary integration in the governmental fund types. Under encumbrance accounting, purchase orders, contracts and other commitments for the expenditures of monies are recorded to reserve that portion of the applicable appropriation. Encumbrances outstanding at year-end are recorded as reservations of fund balance since they do not constitute expenditures or liabilities. Outstanding encumbrances at year-end are automatically re-appropriated for the following year. Unencumbered and unexpended appropriations lapse at year-end unless the Town Council acts in the form of a resolution to continue the appropriations into the following fiscal year.
-43-
Measurement Date, June 30
Proportion of the net pension liability
Proportion share of the net pension liability
Covered payroll
Proportionate share of the net pension liability
as percentage of covered payroll
Plan fiduciary net position as a percentage of
the total pension liability
Town of Colma

SCHEDULE OF THE LOCAL GOVERNMENT'S PROPORTIONATE

SHARE OF THE NET PENSION LIABILITY - MISCELLANEOUS
June 30, 2023
2022 2021 2020 2019 2018

0.02291% 0.01095% 0.02049% 0.01998% 0.03071%
$2,646,844 $ 592,343 $ 2,229,557 $ 2,047,539 $ 2,958,883 $2,275,342 $ 2,176,867 $ 2,154,414 $ 1,877,533 $ 1,750,924 116.33% 27.21% 103.49% 109.05% 168.99%

82.03% 95.59% 82.32% 82.50% 71.95%
* Fiscal year 2014 was the 1st year of implementation.
-44 -
2017 2016 2015

0.03069% 0.03109% 0.03303%
$ 3,044,014 $ 2,689,973 $ 2,267,047
$ 1,747,464 $ 1,714,156 $ 1,171,547
174.20% 156.93% 144.49%

70.14% 70.53% 73.89%
Measurement Date, June 30
Proportion of the net pension liability
Proportion share of the net pension liability
Covered payroll
Proportionate share of the net pension liability
as percentage of covered payroll
Plan fiduciary net position as a percentage of
the total pension liability
Town of Colma

SCHEDULE OF THE LOCAL GOVERNMENT'S PROPORTIONATE

SHARE OF THE NET PENSION LIABILITY - SAFETY
June 30, 2023
2022 2021 2020 2019 2018

0.08687% 0.08397% 0.08049% 0.78530% 0.69820%
$10,033,727 $ 4,541,265 $ 8,757,960 $ 8,047,143 $ 6,727,872 $ 2,577,371 $ 2,566,262 $ 2,624,279 $ 2,739,345 $ 2,672,994 389.30% 176.96% 333.73% 293.76% 251.70%

75.11% 87.85% 75.11% 75.54% 77.37%
* Fiscal year 2014 was the 1st year of implementation.
-45 -
2017 2016 2015

0.07702% 0.07811% 0.07984%
$ 7,638,175 $ 6,759,099 $ 5,479,917
$ 2,427,272 $ 2,316,450 $ 1,680,743
314.68% 291.79% 326.04%

72.43% 72.44% 75.28%
Town of Colma

SCHEDULE OF CONTRIBUTIONS - MISCELLANEOUS
June 30, 2023
Town Miscellaneous Plan
Fiscal Year Ending June 30 2023 2022 2021 2020 2019
Contractually required contribution
(actuarially determined) $ 501,650 $ 469,416 $ 450,825 $ 417,561 $ 379,544 contributions in relation to the
actuarially determined contributions (501,650) {469,416) {450,825) {417,561) {1,429,544) Contribution deficiency (excess) $ $ $ $ $ (1,050,000)
Covered payroll $ 2,402,299 $ 2,275,342 $ 2,176,867 $ 2,154,414 $ 1,877,533 Contributions as a percentage of
covered payroll 20.88% 20.61% 20.71% 19.38% 76.14%
Notes to Schedule:

Benefit Changes: There were no changes to benefit terms that applied to all members of the Public Agency Pool.

Changes of Assumptions: There were no changes of assumptions. * Fiscal year 2014 was the 1st year of implementation.
-46 -
2018
$ 333,699
{333,699)
$
$ 1,750,924

19.06%
2017 2016
$ 309,475 $ 277,099
{309,475) {277,099)
$ $
$ 1,747,464 $ 1,714,156

17.71% 16.17%
Fiscal Year Ending June 30 2023 2022
Contractually required contribution
Town of Colma

SCHEDULE OF CONTRIBUTIONS - SAFETY
June 30, 2023
Town Safety Plan
'2021 2020 2019 2018 2017 2016 2015 2014
(actuarially determined) $ 1,209,945 $ 1,305,577 $ 1,211,446 $ 1,128,026 $ 508,661 $ 935,748 $ 829,500 $ 752,116 $ 689,260 $ 712,647 Contributions in relation to the
actuarially determined contributions {2,209,945) {1,305,577) {1,211,446) (1,128,026) (508,661) (935,748) (829,500) (752,116) (689,260) (712,647) (;ontribution Cleticiency (excess) $ (1,000,000) __ $ __ _ $ $ $ $ $ $ $ $ Covered payroll $ 2,918,788 $ 2,577,371 $ 2,566,262 $ 2,624,279 $ 2,739,345 $ 2,672,994 $ 2,427,272 $ 2,316,450 $ 1,680,743 $ 2,164,223 Contributions as a percentage of
covered payroll
Notes to Schedule:

75.71% 50.66% 47.21% 42.98% 18.57%
Benefit Changes: There were no changes to benefit terms that applied to all members of the Public Agency Pool.

Changes of Assumptions: There were no changes of assumptions. * Fiscal year 2014 was the 1st year of implementation.
-47 -

35.01% 34.17% 32.47% 41.01% 32.93%
Town of Colma

REQUIRED SUPPLEMENTARY INFORMATION

SCHEDULE OF CHANGE IN THE NET OPEB LIABILITY AND RELATED RATIOS For the Year Ended June 30, 2023
Fiscal year 2023 2022 2021 2020
Total OPEB Liability
Service cost $ 487,138 $ 474,100 $ 657,975 $ 780,902
Interest 832,569 808,036 932,475 901,033
Benefit payments, included refunds of employee
contributions (1,029,468) (792,204) (690,829) (620,318) Change in assumptions (47,315) 207,912 (24,222) 56,399
Difference between actual and expected experience (110,175) (1,246,250) 175,759 Implicit Subsidy Credit {209,702) {157,130) {142,283)
Net change in total OPEB liability 132,749 488,142 (527,981) 1,151,492 Total OPEB liability - beginning of year 16,773,253 16,285,111 16,813,092 15,661,600 Total OPEB liability - end of year $16,906,002 $ 16,773,253 $16,285,111 $16,813,092 Plan Fiduciary Net Position
Net investment income $ (726,478) $ 714,632 $ 214,352 $ 245,743 Contributions
Employer 1,757,297 947,665 1,632,395 1,841,003
Benefit payments, included refunds of employee
contributions (1,029,468) (792,204) (690,829) (620,318) Implicit Subsidy Credit (209,702) (157,130) (142,283)
Administrative expense {33,182) {30,848) {24,347) {8,541) Net change in plan fiduciary net position (31,831) 629,543 974,441 1,315,604 Plan fiduciary net position - beginning of year 5,712,234 5,082,691 4,108,250 2,792,646 Plan fiduciary net position - end of year 5,680,403 5,712,234 5,082,691 4,108,250 Town's net OPEB liability - end of year $ 11,225,599 $11,061,019 $ 11,202,420 $12,704,842 Plan fiduciary net position as a percentage of the
total OPEB liability 33.60% 34.06% 31.21% 24.43%
Covered payroll $ 4,783,347 $ 3,394,233 $ 3,233,237 $ 6,600,414 Net OPEB liability as a percentage of covered-
employee payroll 234.68% 325.88% 346.48% 192.49%
The schedules present information to illustrate changes in the Town of Colma's changes in the net OPEB liability over a ten year period when the information is available.
-48-
2019
$
58,173
(57,557)
(1,954,200)
973,195
(980,389)
16,641,989
$ 15,661,600
$ 27,073
115,823
(57,557)
{17)
85,322
2,749,061
2,834,383
$12,827,217

18.10%
$ 6,423,761
199.68%
Fiscal Year Ended
Actuarially determined contribution
Town of Colma

REQUIRED SUPPLEMENTARY INFORMATION

SCHEDULE OF TOWN OF COLMA'S CONTRIBUTIONS - OPEB
For the Year Ended June 30, 2023
2023 2022 2021
$ 1,385,258 $ 1,657,517 $ 1,869,678
Contributions in relation to the actuarially determined contribution {1,757,297) {947,665) {1,632,395) Contribution deficiency (excess) $ {372,039) $ 709,852 $ 237,283 Covered payroll $ 3,394,233 $ 3,233,237 $ 6,600,414
Contributions as a percentage of covered payroll 51.80% 29.30% 24.70% 2020
$
{1,841,003)
$ {1,841,003)
$ 6,423,761

28.70%
The schedules present information to illustrate changes in the Town of Colma's contributions over a ten year period when the information is available.

Notes to Schedule:

Assumptions and Methods
Actuarial cost method
Amortization method
Amortization period
Inflation
Assumed Rate of Payroll Growth
Healthcare trend rates
Rate of return on assets
Mortality rate
Retirement rates
Entry age normal, level percent of pay
Closed period, level percent of pay
20 years

2.50%

2.75%

7.00%, trending down to 4.04%

5.74%
CalPERS rates
CalPERS rates
-49 -
2019
$ 1,636,641
{1,636,641)
$
$ 4,068,515

40.23%

SUPPLEMENTARY INFORMATION
Gas Tax
ASSETS
Cash and investments $ 108,827
Restricted cash and investments
Accounts receivable 9,326
Total assets $ 118,153

LIABILITIES AND FUND BALANCES
Liabilities:

Contractors retention $
Accounts payable 4,511
Total liabilities 4,511
Fund balances:

Restricted 113,642
Assigned for capital
Total fund balances 113,642
Total liabilities and fund balances $ 118,153
$
$
$
$
Town of Colma

COMBINING BALANCE SHEET

NONMAJOR GOVERNMENTAL FUNDS
June 30, 2023
seecial Revenue Funds
Housing
Impact Public Safety
Measure A Fee MeasureW Grants
157,398 $ 280,475 $ 92,622 $ 21,315
5,418
162,816 $ 280,475 $ 92,622 $ 21,315
$ $ $
162,816 280,475 92,622 21,315
162,816 280,475 92,622 21,315
162,816 $ 280,475 $ 92,622 $ 21,315
- 50 -
Street Total
Local law Improvement Nonmajor
Enforcement Capital Debt Governmental
Grants Project Fund Service Funds
$ $ 2,697,152 $ $ 3,357,789
386 386
210 92,170 107,124
$ 210 $ 2,789,322 $ 386 $ 3,465,299
$ $ $ $
45 137,346 141,902
45 137,346 141,902
165 386 671,421
2,651,976 2,651,976
165 2,651,976 386 3,323,397
$ 210 $ 2,789,322 $ 386 $ 3,465,299
Town of Colma

COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

NONMAJOR GOVERNMENTAL FUNDS
For the Fiscal Year Ended June 30, 2023
seecial Revenue Funds Street Total
Housing Local Law Improvement Nonmajor
Impact Public Safety Enforcement Capital Debt Governmental Gas tax Measure A Fee MeasureW Grants Grant Fund Projects Fund Service Funds Revenues:

Intergovernmental $ 77,409 $ 74,589 $ $ 33,799 $ 15,000 $ 165,271 $ $ $ 366,068 Other taxes 92,970 92,970
Investment income {loss) 1,827 2,400 3,220 1,328 {28) 4,480 557 13,784 Total revenues 79,236 76,989 3,220 35,127 15,000 165,243 97,450 557 472,822 Expenditures:

Current:

General government 1,250 1,250
Public safety 227,859 227,859
Public works 46,997 18,104 65,101
Capital outlay 1,116,562 1,116,562
Debt service:

Principal 130,000 130,000
Interest 164,569 164,569
Total expenditures 46,997 227,859 1,134,666 295,819 1,705,341 Excess {deficiency) of revenues over
expenditures 32,239 76,989 3,220 35,127 15,000 {62,616) {1,037,216) {295,262) {1,232,519) Other financing sources {uses):

Transfers in 41,728 2,672,997 295,609 3,010,334
Transfers out {45,450) {71,669) {31,950) {149,069)
Total other financing sources {uses) {45,450) {71,669) {31,950) 41,728 2,672,997 295,609 2,861,265 Net change in fund balances {13,211) 5,320 3,220 3,177 15,000 {20,888) 1,635,781 347 1,628,746 Fund balances, beginning of period 126,853 157,496 277,255 89,445 6,315 21,053 1,016,195 39 1,694,651 Fund balances {deficit), end of period $ 113,642 $ 162,816 $ 280,475 $ 92,622 $ 21,315 $ 165 $ 2,651,976 $ 386 $ 3,323,397 - 51 -

ATTACHMENT C

TOWN OF COLMA

TOWN COUNCIL
&

MANAGEMENT REPORT
For the Year Ended
JUNE 30, 2023
~

O'CONNOR & COMPANY
~
Report on Internal Controls
Required Communications
Observations for Management

TABLE OF CONTENTS
PAGE
1 2-3
4 ~

O'CONNOR & COMPANY
~
Town Council
Town of Colma
Colma, California
1701 NOVATO BLVD, SUITE 302
NOVATO, CA 94947
PH. (415)457-1215
FAX. (415)457-6735
www.maocpa.com
In planning and performing our audit of the basic financial statements of Town of Colma for the fiscal year ended June 30, 2023, in accordance with auditing standards generally accepted in the United States of America, we considered its internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinion on the basic financial statements, but not for the purpose of expressing an opinion on the effectiveness of its internal control. Accordingly, we do not express an opinion on the effectiveness of Town of Colma's internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the organization's financial statements will not be prevented, or detected and corrected, on a timely basis.

Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses.

However, material weaknesses or significant deficiencies may exist that have not been identified.

During our audit, we noted certain matters involving internal controls and other operational matters that are presented for your consideration in this report. We will review the status of these comments during our next audit engagement. Our comments and recommendations, all of which have been discussed with appropriate members of management, are not intended to be all-inclusive, but rather represent those matters that we considered worthy of your consideration. Our comments and recommendations are submitted as constructive suggestions to assist you in strengthening controls and procedures; they are not intended to reflect on the honesty or integrity of any employee. We will be pleased to discuss these comments in further detail at your convenience, to perform any additional study of these matters, or to assist Town of Colma in implementing the recommendations.

This report is intended solely for the information and use of management and Town Council of Town of Colma and others within the organization, and is not intended to be and should not be used by anyone other than these specified parties.

We thank Town of Colma's staff for its cooperation during our audit.

Novato, California
September 24, 2024
O'Connor & Company
- 1 -
~

O'CONNOR & COMPANY
~
Town Council
Town of Colma
Colma, California
1701 NOVATO BLVD, SUITE 302
NOVATO, CA 94947
PH. (415)457-1215
FAX. (415)457-6735
www.maocpa.com
We have audited the basic financial statements of Town of Colma for the year ended June 30, 2023. Professional standards require that we provide you with the following information related to our audit.

Our Responsibility under U.S. Generally Accepted Auditing Standards As stated in our engagement letter dated August 21 , 2023, our responsibility, as described by professional standards, is to plan and perform our audit to obtain reasonable, but not absolute, assurance that the financial statements are free of material misstatement and are fairly presented in accordance with U.S. generally accepted accounting principles. Because an audit is designed to provide reasonable, but not absolute assurance and because we did not perform a detailed examination of all transactions, there is a risk that material misstatements may exist and not be detected by us.

As part of our audit, we considered the internal control of Town of Colma. Such considerations were solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control.

Qualitative Aspects of Accounting Practices
Management is responsible for the selection and use of appropriate accounting policies. In accordance with the terms of our engagement letter, we will advise management about the appropriateness of accounting policies and their application. The significant accounting policies used by Town of Colma are described in Note 1 to the financial statements. One new accounting policy was adopted, and the application of existing policies was changed during the year regarding the accounting for restricted OPEB investments under GASB 75. These assets are no longer reported under restricted cash and investments as they are incorporated in the GASB 75 OPEB liability. We noted no transactions entered by Town of Colma during the year for which there is a lack of authoritative guidance or consensus. There are no significant transactions that have been recognized in the financial statements in a different period than when the transaction occurred.

The following pronouncements became effective, but did not have a material effect on the financial statements:

GASB 91 - Conduit Debt Obligations
GASB 94 - Public-Private and Public-Public and Availability Payment Arrangements GASB 93 - Omnibus 2022, paragraphes 11-25
GASB 96 - Information Technologie Suscription Arrangements Accounting estimates are an integral part of the financial statements prepared by management and are based on management's knowledge and experience about past and current events and assumptions about future events.

Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. We evaluated the key factors and assumptions used to develop the accounting estimates in determining that they are reasonable in relation to the financial statements taken as a whole. The most sensitive estimates affecting the financial statements were:
■ Accrual and disclosure of compensated absences.
■ Capital asset lives and depreciation expense.
■ Actuarial assumptions for pension and post-employment benefits. ■ Fair value of investments and financial instruments.

We have identified the following significant risk(s) of material misstatement as part of our audit planning:
management override of controls, improper revenue recognition, and unallowable and fraudulent expenses. -2-
Town Council
Town of Colma - Page 2
Disclosures
The financial statement disclosures are neutral, consistent, and clear.

Difficulties Encountered in Performing the Audit
We encountered no significant difficulties in dealing with management in performing and completing our audit.

Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are trivial, and communicate them to the appropriate level of management. There was one material audit adjustment that came to our attention. Management has corrected all such misstatements.

Disagreements with Management
For purposes of this letter, professional standards define a disagreement with management as a financial accounting, reporting, or auditing matter, whether resolved to our satisfaction, that could be significant to the financial statements or the auditors' report. We are pleased to report that no such disagreements arose during our audit.

Management Representations
We have requested certain representations from management that are included in the management representation letter dated September 24, 2024.

Management Consultations with Other Independent Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters, like obtaining a "second opinion" on certain situations. If a consultation involves application of an accounting principle to Town of Colma's financial statements or a determination of the type of auditor's opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants.

Other Audit Findings or Issues
We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as Town of Colma's auditors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition of our retention.

Other Matters
We applied certain limited procedures to the Management's Discussion and Analysis and the Budgetary Comparison Schedule for the General Fund, Local Government's Proportionate Share of Net Pension Liability, and Schedules of Contributions, which are required supplementary information (RSI) that supplements the basic financial statements. Our procedures consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements.

We did not audit the RSI and do not express an opinion or provide any assurance on the RSI.

We were engaged to report on the combining statements, which accompany the financial statements but are not RSI. With respect to this supplementary information, we made certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or the financial statements themselves.

This report is intended solely for the information and use of management and Town Council of Town of Colma and others within the organization, and is not intended to be, and should not be, used by anyone other than these specified parties.
-3-
Town of Colma

MANAGEMENT REPORT
For the Year Ended June 30, 2023
Current Year Observations
1) New Accounting Standards and Related Policies
Observation:

Town of Colma (the Town) was required to implement GASB 87 and GASB 96, which became effective for the year ended June 30, 2022, and 2023. These new standards require leases and information technology subscription arrangements to be capitalized as intangible assets. In compliance with the new accounting statements the Town should consider formalizing a capitalization policy for leases and subscription arrangements like their capitalization policy for capital assets.

Recommendation:

We recommend the Town consider formalizing a capitalization policy for leases and subscription arrangement liabilities and the right to use assets over $40,000. We also recommend keeping lease terms to month-to-month or annual leases whenever possible.

Prior Year Observations
There were no prior year observations.
-4-

ATTACHMENT D

TOWN OF COLMA

MEASURE A FUND

FINANCIAL STATEMENTS
JUNE 30, 2023
~ O'CONNOR & COMPANY
~
Independent Auditors' Report
Financial Statements:

Balance Sheet

TABLE OF CONTENTS
Statement of Revenues, Expenditures, and Changes in Fund Balance Notes to Fund Financial Statements
PAGE
1-2
3 4
5-6
~

O'CONNOR & COMPANY
~

INDEPENDENT AUDITORS' REPORT
Honorable Mayor and Members
of the Town Council
Town of Colma
Colma, California
Report on the Financial Statements
Opinions
1701 NOVATO BLVD, SUITE 302
NOVATO, CA 94947
PH. (415)457-1215
FAX. (415)457-6735
www.maocpa.com
We have audited the accompanying financial statements of the Measure A Fund of the Town of Colma as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise Town of Colma's basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the Measure A Fund of the Town of Colma, as of June 30, 2023, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. 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 Town of Colma, 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.

Emphasis of Matter
As described in Note 1 to the financial statements, the accompanying financial statements present only the Measure A Fund and do not purport to, and do not, present fairly the financial position of Town of Colma, California, as of June 30, 2023, and the changes in its financial position for the year then ended in conformity with U.S. generally accepted accounting principles.

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

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

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

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
- 1 -
Honorable Mayor and Members
of the Town Council
Town of Colma - Page 2
In performing an audit in accordance with generally accepted auditing standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Measure A Fund of the Town of Colma's internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Measure A Fund of the Town of Colma's ability to continue as a going concern for a reasonable period of time.

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

Novato, California
September 15, 2024
O'Connor & Company
-2-
ASSETS
Cash
Accounts receivable
Total assets
Town of Colma
Measure A Fund

GOVERNMENTAL FUND TYPE

BALANCE SHEET
June 30, 2023

LIABILITIES AND FUND BALANCE
Liabilities:

Due to other fund
Fund balance:

Restricted
Total liabilities and fund balances
$
$
$
$
The accompanying notes are an integral part of these financial statements. -3-
157,398
5,418
162,816
162,816
162,816
Town of Colma
Measure A Fund

GOVERNMENTAL FUND TYPE

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE For the Fiscal Year Ended June 30, 2023
Revenues:
20 percent of 1 /2 cent sales tax $ 74,589
Investment income (loss) 2,400
Total revenues 76,989
Expenditures:

Capital outlay
Total expenditures
Excess of revenues over expenditures 76,989

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out {71,669)
Total other financing sources (uses) {71,669)
Net change in fund balance 5,320
Fund balance, beginning of period 157,496
Fund balance, end of period $ 162,816
The accompanying notes are an integral part of these financial statements. -4-
NOTE 1 -
NOTE 2-
NOTE 3-
Town of Colma
Measure A Fund

NOTES TO FUND FINANCIAL STATEMENTS
June 30, 2023

REPORTING ENTITY
At the general election on June 7, 1988, the voters of San Mateo County approved Measure A, "An ordinance providing for the creation of the San Mateo County Transportation Authority, for the imposition of a one-half of one percent transactions and use tax, for the issuance of limited tax bonds, and for other purposes." It also includes an annual allocation of 20 percent of the total revenue generated by the ½ percent transactions and use tax to the cities of San Mateo County and to the County of San Mateo for the improvement of local transportation, including streets and roads.

The Measure A Fund (the Fund) is a nonmajor fund of Town of Colma. The accounting policies of the Fund conform to U.S. generally accepted accounting principles as applicable to governments.

The accompanying financial statements present financial information for only the Measure A Fund, and not for Town of Colma (the Town) as a whole.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Basis of Accounting
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. The operating statement of the fund presents increases and decreases in net current assets.

The modified accrual basis of accounting is used by all governmental fund types. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual, i.e., when they become both measurable and available. "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the related liability is incurred by the Fund.

B. Budgets and Budgetary Accounting
The Town adopted an annual budget for the Fund for the fiscal year ending June 30, 2023. The Town's budget is prepared on a basis consistent with U.S. generally accepted accounting principles. All annual appropriations lapse at year end.

The budget is prepared by fund, function, department and line item. The legal level of budgetary control is the fund level. Any changes to increase total appropriations in a fund require the approval of the Town Council.

CASH AND INVESTMENTS
The Town pools various funds' cash for investment purposes. The Fund's equity in such pooled assets is shown as "Cash and Investments." Cash and investments in the accompanying financial statements are carried at fair value.

The Town is authorized by its most recent investment policy to invest in the State of California Local Agency Investment Fund, the San Mateo County Treasurer's Investment Pool and other permitted investments.
-5-
NOTE 3-
NOTE 4-
NOTE 5-
NOTE 6-
Town of Colma
Measure A Fund

NOTES TO FUND FINANCIAL STATEMENTS
June 30, 2023
CASH AND INVESTMENTS (concluded)
Interest earnings, if any, were allocated to the Fund in the 2023 fiscal year based upon the Fund's average cash balances and the proportionate interest earned by the Town on its pooled investments in the State of California Local Agency Investment Fund (LAIF) and the San Mateo County Treasurer Pool. See the Town's Annual Financial Report for the disclosures related to cash and investments and the related custodial risk categorization.

CONTINGENCIES
Local Financial Assistance. Amounts received or receivable from granter agencies are subject to audit and adjustment by granter agencies, principally the San Mateo County Transportation Authority. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of costs which may be disallowed by the granters cannot be determined at this time although the Town expects such amounts, if any, to be immaterial.

RESTRICTED FUND BALANCE
The accompanying financial statements reflect certain changes that have been made with respect to the reporting components of fund balances for governmental funds. In previous years, fund balances for governmental funds were reported in accordance with previous standards that included components for reserved fund balance, unreserved fund balance, designated fund balance, and undesignated fund balance. Due to the implementation of GASB Statement No. 54, the components of fund balances of governmental funds now reflect the component classification of assigned fund balance.

Restricted fund balance includes amounts restricted by external creditors, granters, contributors, laws or regulations of other governments.

SUBSEQUENT EVENTS
The Town's management has evaluated events and transactions subsequent to June 30, 2023 for potential recognition or disclosure in the financial statements. Subsequent events have been evaluated through the date the financial statements became available to be issued. -6-

ATTACHMENT E

TOWN OF COLMA

MEASURE W FUND

FINANCIAL STATEMENTS
JUNE 30, 2023
~ O'CONNOR & COMPANY
~
Independent Auditors' Report
Financial Statements:

Balance Sheet

TABLE OF CONTENTS
Statement of Revenues, Expenditures, and Changes in Fund Balance Notes to Fund Financial Statements
PAGE
1-2
3 4
5-6
1701 NOVATO BLVD, SUITE 302
NOVATO, CA 94947
PH. (415) 457-1215
FAX. (415) 457-6735
www.maocpa.com

ATTACHMENT F
~

O'CONNOR & COMPANY
~

INDEPENDENT AUDITORS' REPORT
Honorable Mayor and Members
of the Town Council
Town of Colma
Colma, California
Report on the Financial Statements
Opinions
We have audited the accompanying financial statements of the Measure W Fund of the Town of Colma as of and for the year ended June 30, 2023, and the related notes to the financial statements, which collectively comprise Town of Colma's basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the Measure W Fund of the Town of Colma, as of June 30, 2023, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. 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 Town of Colma, 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.

Emphasis of Matter
As described in Note 1 to the financial statements, the accompanying financial statements present only the Measure W Fund and do not purport to, and do not, present fairly the financial position of Town of Colma, California, as of June 30, 2023, and the changes in its financial position for the year then ended in conformity with U.S. generally accepted accounting principles.

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

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

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

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
- 1 -
Town Council
Town of Colma - Page 2
In performing an audit in accordance with generally accepted auditing standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Measure W Fund of the Town of Colma's internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Measure W Fund of the Town of Colma's ability to continue as a going concern for a reasonable period of time.

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

Novato, California
September 15, 2024
0 ~ t (/¥~
O'Connor & Company
-2-
ASSETS
Cash and investments
Total assets
Town of Colma
Measure W Fund

GOVERNMENTAL FUND TYPE

BALANCE SHEET
June 30, 2023

LIABILITIES AND FUND BALANCE
Liabilities:

Due to other fund
Fund balance:

Restricted
Total liabilities and fund balances
$
$
$
$
The accompanying notes are an integral part of these financial statements. -3-
92,622
92,622
92,622
92,622
Town of Colma
Measure W Fund

GOVERNMENTAL FUND TYPE

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE For the Fiscal Year Ended June 30, 2023
Revenues:
1 /2 cent sales tax $ 33,799
Investment income (loss) 1,328
Total revenues 35,127
Expenditures:

Capital outlay
Total expenditures
Excess of revenues over expenditures 35,127

OTHER FINANCING SOURCES (USES)
Transfers out {31,950)
Total other financing sources (uses) {31,950)
Net change in fund balance 3,177
Fund balance, beginning of period 89,445
Fund balance, end of period $ 92,622
The accompanying notes are an integral part of these financial statements. -4-
NOTE 1 -
NOTE 2-
NOTE 3-
Town of Colma
Measure W Fund

NOTES TO FUND FINANCIAL STATEMENTS
June 30, 2023

REPORTING ENTITY
At the general election on November 6, 2018, the voters of San Mateo County approved Measure W, "An ordinance providing for the imposition of a one-half of one percent sales tax on all retail transactions in the County of San Mateo for the improvement of local transportation, including transit, streets and roads."
The Measure W Fund (the Fund) is a nonmajor fund of Town of Colma. The accounting policies of the Fund conform to U.S. generally accepted accounting principles as applicable to governments.

The accompanying financial statements present financial information for only the Measure W Fund, and not for Town of Colma (the Town) as a whole.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Basis of Accounting
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. The operating statement of the fund presents increases and decreases in net current assets.

The modified accrual basis of accounting is used by all governmental fund types. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual, i.e., when they become both measurable and available. "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the related liability is incurred by the Fund.

B. Budgets and Budgetary Accounting
The Town adopted an annual budget for the Fund for the fiscal year ending June 30, 2023. The Town's budget is prepared on a basis consistent with U.S. generally accepted accounting principles. All annual appropriations lapse at year end.

The budget is prepared by fund, function, department and line item. The legal level of budgetary control is the fund level. Any changes to increase total appropriations in a fund require the approval of the Town Council.

CASH AND INVESTMENTS
The Town pools various funds' cash for investment purposes. The Fund's equity in such pooled assets is shown as "Cash and Investments." Cash and investments in the accompanying financial statements are carried at fair value.

The Town is authorized by its most recent investment policy to invest in the State of California Local Agency Investment Fund, the San Mateo County Treasurer's Investment Pool and other permitted investments.

Interest earnings, if any, were allocated to the Fund in the 2023 fiscal year based upon the Fund's average cash balances and the proportionate interest earned by the Town on its pooled investments in the State of California Local Agency Investment Fund (LAIF) and the San Mateo County Treasurer Pool. See the Town's Annual Financial Report for the disclosures related to cash and investments and the related custodial risk categorization. -5-
NOTE 4-
NOTE 5-
NOTE 6-
Town of Colma
Measure W Fund

NOTES TO FUND FINANCIAL STATEMENTS
June 30, 2023

CONTINGENCIES
Local Financial Assistance. Amounts received or receivable from granter agencies are subject to audit and adjustment by granter agencies, principally the San Mateo County Transportation Authority. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of costs which may be disallowed by the granters cannot be determined at this time although the Town expects such amounts, if any, to be immaterial.

RESTRICTED FUND BALANCE
The accompanying financial statements reflect certain changes that have been made with respect to the reporting components of fund balances for governmental funds. In previous years, fund balances for governmental funds were reported in accordance with previous standards that included components for reserved fund balance, unreserved fund balance, designated fund balance, and undesignated fund balance. Due to the implementation of GASB Statement No. 54, the components of fund balances of governmental funds now reflect the component classification of assigned fund balance.

Restricted fund balance includes amounts restricted by external creditors, granters, contributors, laws or regulations of other governments.

SUBSEQUENT EVENTS
The Town's management has evaluated events and transactions subsequent to June 30, 2023 for potential recognition or disclosure in the financial statements. Subsequent events have been evaluated through the date the financial statements became available to be issued. -6-
1101 FIFTH AVENUE, SUITE 360 SAN RAFAEL, CA 94901 TEL (415) 457-1215 F AX (415) 457-6735 www.rjrcpa.com R. J. RICCIARDI, INC.

CERTIFIED PUBLIC ACCOUNTANTS

INDEPENDENT ACCOUNTANTS' REPORT

ON AGREED-UPON PROCEDURES APPLIED

TO APPROPRIATIONS LIMIT WORKSHEETS
Honorable Mayor and
Members of the Town Council
Town of Colma
We have applied the procedures enumerated below to the accompanying Appropriations Limit worksheet of the Town of Colma (the Town) for the year ended June 30, 2023. These procedures, which were agreed to by the Town (as presented in the League publication entitled Article XIIIB Appropriations Limitation Uniform Guidelines) were performed solely to assist the Town in meeting the requirements of Section 1.5 of Article XIIIB of the California Constitution . The Town is responsible for the accompanying Appropriations Limit worksheet.

The sufficiency of the procedures is solely the responsibility of the specified users of the report. Consequently, we make no representation regarding the sufficiency of the procedures enumerated below either for the purpose for which the report has been requested or for any other purpose .

The procedures performed and our findings were as follows:

1. We obtained the completed appropriation limit worksheets and compared the limit and annual adjustment factors included in those worksheets to the limit and annual adjustment factors that were adopted by resolution of the Town Council. We also compared the population and inflation options included in the aforementioned worksheets to those that were selected by a recorded vote of the Town Council.

Finding: No exceptions were noted as a result of our procedures.

2. For the accompanying Appropriations Limit worksheet, we added last year's limit and total adjustments and compared the resulting amount to this year's limit.

Finding: No exceptions were noted as a result of our procedures.

3. We compared the current year information presented in the accompanying Appropriations Limit worksheet to the other worksheets described in No. 1 above.

Finding: No exceptions were noted as a result of our procedures.

4. We compared the prior year appropriations limit presented in the accompanying Appropriations Limit worksheet to the prior year appropriations limit adopted by the Town Council for the prior year.

Finding: No exceptions were noted as a result of our procedures .

ATTACHMENT F
Honorable Mayor and
Members of the Town Council
Town of Colma - Page 2
This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants . We were not engaged to, and did not perform an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the accompanying Appropriations Limit worksheet. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. No procedures have been performed with respect to the determination of the appropriation limit for the base year, as defined by the League publication entitled Article XIIIB Appropriations Limitation Uniform Guidelines.

We are required to be independent of the Town of Colma and to meet our other ethical responsibilities, in accordance with the ethical requirements related to our agreed- upon procedures engagement.

This report is intended solely for the use of the Town of Colma and is not intended to be, and should not be, used by anyone other than the specified parties .

San Rafael, California
January 6, 2023
~ 9, 1<Jcciarli, 9nc,
R.J. Ricciardi, Inc.

Certified Public Accountants
Honorable Mayor and
Members of the Town Council
Town of Colma - Page 3
Article XIIIB Appropriation Limit Calculation
Prior Year Limit
Multiply by:

State per capita personal income
Change in population
Total Appropriation Limit Fiscal Year 2022-2023
$ 57,274,771

1.076

0.991 1.0656
$ 61 031 996
Staff Report – First Amendment to Employment Contract with Daniel Barros Page 1 of 2

STAFF REPORT
TO: M
ayor and Members of the City Council
FROM: Christopher J. Diaz, City Attorney
MEETING DATE: October 23, 2024
SUBJECT: First Amendment to Employment Contract for City Manager

RECOMMENDATION
Staff recommends that the City Council adopt the following:

RESOLUTION APPROVING FIRST AMENDMENT TO EMPLOYMENT CONTRACT WITH

DANIEL BARROS TO PROVIDE FOR A SALARY ADJUSTMENT PURSUANT TO CEQA GUIDELINE 15378

COUNCIL ADOPTED VALUES
The City Council’s action in considering a salary adjustment for the City Manager is consistent with the value of fairness as the City Council recently provided raises to all Town employees and providing a similar salary adjustment for the City Manager is a fair thing to do.

BACKGROUND
On October 9, 2024, the City Council met in closed session to negotiate a salary adjustment for the City Manager. At the conclusion of those negotiations, the City Council directed staff to return with a contract amendment to increase the City Manager’s salary by 3.8% consistent with the initial increase recently provided to all other Town employees. The City Council asked that this number be rounded to $250,000 for their consideration.

ANALYSIS
On April 26 2023, the Town of Colma retained the firm of Ralph Andersen & Associates (“Ralph Andersen”) to recruit candidates for the position of City Manager. Ralph Andersen conducted a nationwide search and presented over two dozen applications to the City Council for its consideration. The City Council interviewed a short list of candidates and after evaluating the applications and conducting two interviews, the City Council expressed a desire to appoint Daniel Barros as City Manager, subject to formal appointment and approval of an employment agreement.

ITEM #9
Staff Report – First Amendment to Employment Contract with Daniel Barros Page 2 of 2 Shortly thereafter, on July 26, 2023, the City Council adopted a resolution appointing Daniel Barros as City Manager and approving an employment agreement to be effective on August 21, 2023. The City Manager has been serving in that role since that time without any adjustment in salary.

More recently, the City Council approved salary increases for all Town employees, with some exceptions, with an initial increase in salary of 3.8%. Consistent with other Town employees, the City Council has also asked to consider an increase in salary for the City Manager of 3.8%. The City Manager’s current annual salary is $240,000 and a 3.8% increase would adjust the salary by $9,120 to $249,120. The City Council asked that this number be rounded to $250,000 for their consideration.

Consistent with the City Council’s recent direction to staff in closed session, a first amendment to the City Manager’s employment contract has been prepared adjusting the salary from $240,000 per year to $250,000 per year. If the City Council desires to adjust the City Manager’s salary to $250,000 then it should proceed with adoption of the resolution approving the first amendment to the City Manager’s employment contract. This change would be effective upon adoption of the resolution and execution of the first amendment.

FISCAL IMPACT
Adjusting the City Manager’s salary will have a financial impact on the Town of $10,000 per year.

However, sufficient funds are included in the FY 2024-2025 budget to allow for this adjustment.

ENVIRONMENTAL
The City Council’s action in adjusting the City Manager’s salary is exempt from environmental review pursuant to the California Environmental Quality Act (CEQA) pursuant to CEQA Guideline 15378 as this action is a government al fiscal activity without any commitment to any specific project which may result in a potentially significant impact on the environment.

ALTERNATIVES
The City Council could choose not to adopt the resolution adjusting the City Manager’s salary.

However, the City Council specifically provided direction to staff seeking the preparation of the first amendment adjusting the City Manager’s salary, so if the City Council is inclined to change course, an additional closed session to negotiate those changes may be warranted.

CONCLUSION
The City Council should adopt the resolution approving the first amendment to the City Manager’s employment contract to provide a salary adjustment.

ATTACHMENTS
A. Resolution
B. First Amendment
C. Employment Contract
Res. 2024-__, First Amendment to Employment Contract with Dan Barros Page 1 of 1 RESOLUTION NO.

OF THE CITY COUNCIL OF THE TOWN OF COLMA

RESOLUTION APPROVING FIRST AMENDMENT TO

EMPLOYMENT CONTRACT WITH DANIEL BARROS TO PROVIDE FOR A SALARY ADJUSTMENT PURSUANT TO CEQA GUIDELINE 15378
The City Council of the Town of Colma does hereby resolve as follows:
1 . Background
(a) On July 26, 2023, the City Council adopted a resolution appointing Daniel Barros as City Manager and approving an employment agreement to be effective on August 21, 2023. (b) The City Council now seeks to amend the City Manager’s contract to adjust his base salary by $10,000 subject to approval of an amendment to the employment contract.

2. Order
(a) The First Amendment to the employment contract between the Town of Colma and Dan Barros, a copy of which is on file with the City Clerk, shall be and hereby is approved by the City Council of the Town of Colma.
(b) The Mayor shall be, and hereby is, authorized to execute this First Amendment on behalf of the Town of Colma, with such technical amendments as may be deemed appropriate by the Mayor and the City Attorney.

Certification of Adoption
I certify that the foregoing Resolution No. 2024-___ was duly adopted at a regular meeting of the City Council of the Town of Colma held on October 23, 2024, by the following vote:

Name Voting Present, Not Voting Absent
Aye No Abstain Not Participating
John Irish Goodwin, Mayor
Ken Gonzalez
Carrie Slaughter
Helen Fisicaro
Joanne F. del Rosario
Voting Tally
Da
ted ______________________ ___________________________________ John Irish Goodwin, Mayor
Attest: ____________________________
Michelle Estabillo, City Clerk

ATTACHMENT A
25977.00100\42811428.1
First Amendment to Employment Contract with Daniel Barros Page 1 of 1

FIRST AMENDMENT TO

EMPLOYMENT CONTRACT WITH DANIEL BARROS
This First Amendment is made and entered into on October 23, 2024 by and between the Town of Colma, a municipal corporation and general law city (“Employer”), and Daniel Barros (“Employee”), who are sometimes individually referred to as a "Party" and collectively as "Parties" in this First Amendment.
(a) On July 26, 2023, the City Council adopted a resolution appointing Daniel Barros as City Manager and approving an employment agreement to be effective on August 21, 2023.
(b) The City Council now seeks to amend the City Manager’s contract to adjust his base salary by $10,000.

NOW, THEREFORE, BASED ON THE MUTUAL PROMISES AND CONSIDERATION S

CONTAINED IN THIS FIRST AMENDMENT AND THE CONTRACT, THE PARTIES HEREBY AGREE AS FOLLOWS:

1. Subsection (a) of Section 4, “Salary and Benefits,” of the Contract is hereby modified as follows:
(a)
Salary. Employer shall pay Employee a salary of $250,000 per year, which shall be subject to all appropriate deductions and withholdings, and which shall be paid at the same time and in the same manner as salaries are usually paid to Miscellaneous Employees of the Town.

Execution. In Witness thereof, the parties hereto have signed this First Amendment on the respective dates shown below and this First Amendment and the Contract constitutes the entire Agreement between the Parties.

Dated: ___________________ _________________________________ Dan Barros, Employee
Dated: __________________ TOWN OF COLMA (Employer)
By _______________________________
John Irish Goodwin, Mayor

ATTACHMENT B

ATTACHMENT C

EMPLOYMENT

CONTRACT
WITH
DANIEL
BARROS
This
Employment
Contract
['Contract'')
is
made
and
entered
into
by
and
between
the
Town
of
Colma,
a
municipal
corporation
and
general
law
city
(''Employer''),
and
Daniel
Barros
(''Employee"
or
"City
Manager''),
who
are
sometimes
individually
referred
to
as
a
"Party"
and
collectively
as
"Parties"
in
this
Contract.

For
reference
purposes,
this
Contract
is
effective
August
21,
2023.

1. Recitals.

This
Contract
is
made
with
reference
to
the
following
facts:
(a)
Employer
desires
to
employ
the
services
of
Employee
as
City
Manager,
as
provided
by
the
Municipal
Code
of
the
Town
of
Colma
and
by
the
laws
of
the
State
of
California;
and (b)
Employee
desires
to
serve
as
City
Manager
of
the
Town
of
Colma
on
the
terms
and
conditions
set
forth
herein.

2. Employment
and
Duties
(a)
Beginning
August
21,
2023,
Employer
shall
employ
Employee
as
City
Manager
on
the
terms
and
conditions
set
forth
herein,
and
Employee
shall
serve
in
said
employment
on
these
terms
and
conditions.

Employment
under
this
Contract
shall
continue
until
either
party
gives
notice
of
termination
as
provided
below.
(b)
Employee
shall
perform
the
functions
and
duties
of
a
City
Manager,
as
specified
in
the
laws
of
the
State
of
California
and
the
ordinances
and
resolutions
of
the
Town
of
Colma.

Employee
shall
also
perform
such
other
legally
permissible
and
proper
duties
and
functions
as
the
City
Council
shall,
from
time
to
time,
assign.
(c)
Employee
is
expected
to
devote
necessary
time,
within
and
outside
normal
business
hours,
to
the
business
of
the
Town
and
to
fulfill
the
duties
of
the
City
Manager,
and
Employee
shall
be
allowed
flexibility
in
setting
his
own
office
hours
to
accommodate
such
activities.
( d)
Employee
has
a duty
of
loyalty
and
a general
fiduciary
duty
to
the
Town.

Employee
shall
devote
the
whole
of
Employee's
working
time,
skill,
experience,
knowledge,
ability,
labor,
energy,
attention
and
best
effort
exclusively
to
the
Town's
business
and
affairs.

Employee
shall
remain
in
the
exclusive
employ
of
Employer
until
termination
of
employment
as
hereinafter
provided
(e)
Employee
shall
not
engage
in
any
employment,
activity,
consulting
service,
or
other
enterprise,
for
compensation
or
otherwise,
which
is
actually
or
potentially
in
conflict
with
or
which
interferes
with
the
performance
of
Employee's
duties
to
the
Town.

Further,
Employee
shall
not,
during
the
term
of
this
Agreement,
engage
in
any
activity
which
is
or
may
become
a
conflict
of
interest,
prohibited
contract,
or
which
may
create
an
incompatibility
of
office
under
California
law.

Employee
will
complete
annual
disclosure
forms
required
by
law.

Employment
Contract
with
Daniel
Barros
25977.00100\41474412.2
Page
1 of
6 (f) Employee is encouraged to continue his education in his role as City Manager. On reasonable notice to the City Council, Employee may, and is highly encouraged, to attend conferences, professional development meetings and conventions as a part of his duties, provided that the subject matter is related to Employee's duties and that attendance does not unduly interfere with performance of his regular duties. (g) The City Manager shall be subject to and shall comply with the standards of conduct and ethical principles set forth in the Town's ordinances and resolutions, and with the ICMA Code of Ethics, a copy of which is attached as Exhibit A.

3. City Council Commitments
(a) Annual Strategic Plan Workshops. The City Council recognizes that to meet the challenges facing the Town, it must exercise decisive policy leadership. As one step in carrying out this leadership responsibility, the City Council commits to spending time each year outside of regular City Council meetings to work with the City Manager and staff on creating and revisiting the Town's strategic plan, setting goals and priorities for the City government, and working on issues that may be inhibiting the maximum achievement of the Town's goals. Each year, between January 1 and March 31, the City Council and the City Manager shall meet at an Annual Strategic Plan Workshop to review the City's existing Strategic Plan, review and establish goals and priorities for the City Manager to implement prior to the City Manager's annual performance evaluation or such other dates as determined in the course of the meeting, and to establish a relative priority among those goals and objectives within the Strategic Plan.
(b) Performance Evaluations. After the first six months of employment, the City Council shall conduct a performance evaluation of the City Manager. In 2024, the City Council shall conduct a performance evaluation on or around the one year anniversary date of this agreement. Thereafter,, beginning in 2025, the City Council shall meet with the Employee each May to evaluate his performance, discuss performance expectations and other objectives, and consider an increase in his base salary. The annual performance review and evaluation shall be in accordance with specific criteria developed jointly by the City Council and the City Manager during the strategic planning and goal setting workshops.

Such criteria may from time to time be added to or deleted as the City Council determines in consultation with the City Manager.
(c) Standards of Conduct and Ethics. Neither the City Council nor any of its members will give the City Manager any order, direction, or request that would require the City Manager to violate the ICMA Code of Ethics or the City Council Protocols set forth in the Colma Administrative Code, subchapter 1.02, as amended from time to time.

4. Salary and Benefits
(a) Salary. Employer shall pay Employee a salary of $240,000 per year, or such greater amount as may hereafter be approved by the City Council, which shall be subject to all appropriate deductions and withholdings, and which shall be paid at the same time and in the same manner as salaries are usually paid to Miscellaneous Employees of the Town.

Employment Contract with Daniel Barros
25977.00100\41474412.2

(b) Deductions. Ca/PERS Contribution and Employment Taxes. Employee shall be responsible for, and shall pay by deduction from Employee's pay check, Employee's contributions to the California Public Employees' Retirement System (Cal PERS) and all employment taxes to be paid by law by Employee including, but not limited to, the Federal Insurance Contributions Act (FICA), the Federal Unemployment Act (FUTA), and the State Unemployment Insurance Act (SUI).
( c) No Reduction. Employer shall not, at any time during this Contract, reduce the salary, compensation or other financial benefits of Employee except to the degree of such reduction across the board for all employees of Employer who are classified as "Local Miscellaneous Members" of the California Public Employees Retirement System. (d) Catch-a//. Except as specifically provided herein, Employee shall be entitled to receive all benefits of employment generally available to Employer's other executive and managerial employees when and as he becomes eligible for them. With regard to vacation leave, Employer is acknowledging Employee's years of service at other public agencies, and Employee shall accrue vacation leave at the rate of 120 hours per year from the effective date of this Agreement through the fifth year of continuous service, or through August of 2028. Employee shall not be eligible to accrue a higher amount of vacation leave until the beginning of the sixth year of service. (e) Bonds. Employer shall pay the cost of any employment bonds required for Employee by Employer.
(f) Reservation of Rights. Employer reserves the right to modify, suspend or discontinue any and all benefit plans, policies, and practices at any time without notice to or recourse by Employee, so long as such action is taken generally across the board for all employees of Employer.
(g) Auto Allowance. Employer shall provide Employee an auto allowance of $300 per month for traveling to meetings, events, conferences and workshops.

5. Expenses and Allowances
(a) Expense Policies. Town shall pay for or provide the City Manager reimbursement for all actual business expenses consistent with Government Code section 53234 et seq., also known as "AB 1234" and subchapter 3.07 of the Colma Administrative Code. (b) Professional Development. Employer shall pay for subscriptions, dues and membership fees and similar expenses to local, state and national professional associations and the International City Manager's Association (ICMA). Payment or reimbursement of reasonable travel, lodging and meals incurred in connection with attendance at professional meetings is subject to an annual limit of $3,000.00, or such higher amount as may be approval by the City Council either through approval of the expense as a budget item or specific approval of a particular event. (c) Technology. Employer shall, at Employer's expense, provide Employee with a Town-paid cell phone and laptop and Town associated phone and data plans.

Employment Contract with Daniel Barros
25977.00100\414 74412.2

6. Personnel Policies and Procedures Manual
(a) Except as explicitly provided to the contrary in this Contract, all provisions of the Town of Colma Personnel Policies and Procedures Manual in effect from time to time will be applicable to the City Manager.
(b) Employer may take disciplinary action relating to Employee without following the procedures set forth in the Colma Personnel Policies and Procedures Manual for imposing discipline. Nothing herein is intended to authorize any disciplinary action that would change Employee's status as an exempt employee under federal or state employment laws or as an at-will employee.

7. City Treasurer
(a) Employer may also appoint Employee as City Treasurer of the Town to perform the functions and duties specified in the Municipal Code of the Town of Colma and to perform other legally permissible and proper duties and functions as the City Council shall, from time to time, assign. There shall be no additional compensation for services as City Treasurer.
(b) Notwithstanding any other provision in this Contract, Employer may terminate Employee as City Treasurer at any time, and Employee shall not be entitled to any severance pay upon such termination.

8. At-will Employment; Termination by Employer; Severance Pay (a) At-will. Notwithstanding any Town ordinance, resolution, or policy, this employment is "at-will," which may be terminated by either party, with or without notice, and with or without cause, except as expressly provided in this Contract. Employee understands and agrees that Employee has no constitutionally protected property or other interest in Employee's employment as City Manager. Employee understands and agrees that Employee works at the pleasure of the Council, and that Employee may be terminated, or asked to resign, at any time, with or without cause. (b) Termination for Cause. Employer may terminate this Contract at any time for cause. No severance shall be paid in the event of termination for cause. (i) For purposes of this Contract, "cause" shall mean willful commission of a material act of dishonesty; willful disclosure of confidential information without prior authorization by the City Council; commission of an act punishable as a felony under California law; the habitual or willful neglect of duties, commission of a material act of moral turpitude; the Town has a reasonable good faith belief that Employee has engaged in theft, embezzlement, fraud, or any other material act of dishonesty in matters affecting the Town, the inability to fully perform the essential duties of this contract due to drug or alcohol abuse; repeated and extended unexcused absences from the City Manager's office and duties; or a willful and serious violation of the Town's Standards of Conduct, as set forth in subchapter

3.03 of the Colma Administrative Code.

Employment Contract with Daniel Barros
25977.00100\41474412.2