CITY OF CONCORD JUNE 30, 2022
NOTE 7 – LONG-TERM DEBT
Description and Activity
The City generally incurs long-term debt to finance projects or purchase assets which will have useful lives equal to or greater than the related debt.
The City's governmental activities long-term debt is recorded only in the government-wide financial statements. This debt will be repaid only out of governmental funds but is not accounted for in these funds because this debt does not require an appropriation or expenditure in this accounting period.
In governmental fund types, debt discounts and issu ance costs are recognized in the current period.
Debt discounts and issuance costs incurred by proprieta ry fund types are deferred and amortized over the term of the debt using the bonds-outstanding method, which approximates the effective interest method.
The City's debt issues and compen sated absence transactions are su mmarized on the next page and discussed in detail thereafter.
Current Year Transactions and Balances
Repaym ent Balance as of Balance as of Current
Source June 30, 2021 Additions Retirem ents June 30, 2022 Portion Governmental Activities Debt:
2021 Certificates of Participation,
2.00-4.00% due 04/01/41 (a) 109,480,000$ -$ 4,205,000$ 105,275,000$ 3,870,000$ Plus prem ium on bonds 15,287,187 - 764,359 14,522,828 - Direct Placement:
Lease Purchase Agreement
2.78% due 12/01/26 (b) 4,630,000 - 720,000 3,910,000 770,000 Lease Financing:
Motorola Lease Agreement due 11/15/2026 (c) 2,174,108 - 338,519 1,835,589 347,712 Sub total 131,571,295 6,027,878 125,543,417 4,987,712
Compensated Absences (d) 5,617,621 3,783,547 3,860,041 5,541,127 3,101,806 Total Governmental Activity Debt 137,188,916$ 3,783,547$ 9,887,919$ 131,084,544$ 8,089,518$ Business-type Activities Debt:
2012 - Wastewater Revenue Refunding Bonds,
1.50-4.00% due 02/01/29 (e) 5,315,000$ -$ 610,000$ 4,705,000$ 620,000$ 2018 - Wastewater Revenue Refunding Bonds,
1.25-3.24% due 2/01/32 (e) 6,575,000 - 465,000 6,110,000 490,000 Plus prem ium on refunding bonds 770,172 - 70,015 700,157 - Sub total 12,660,172 - 1,145,015 11,515,157 1,110,000 Compensated Absences (d) 143,226 95,742 67,666 171,302 45,066 Total Business-Type Activity Debt 12,803,398$ 95,742$ 1,212,681$ 11,686,459$ 1,155,066$ Repayments on the above debt are made from the following sources:
(a) Lease revenue received from the City’s General Fund revenues. (b) The City and the Public Property Financing Corpor ation entered into a direct borrowing Refunding Lease Agreement in the amount of $6,820,000 at the interest rate of 2.78 percent. The proceeds from the Agreement were used to retire the 2011 Equipment Lease/Purchase Agreement. (c) Operating revenues available for lease payment in the Information Technology Replacement Internal Service Funds.
(d) General Fund revenues.
(e) Operating revenues received by the Sewer Enterprise Fund. 71
CITY OF CONCORD JUNE 30, 2022
NOTE 7 – LONG-TERM DEBT (CONTINUED)
Debt Service Requirements
Debt service and capitalized lease requirements are shown below for all long-term debt:
For the Year
Ending June 30, Principal Interest Principal Interest Principal Interest 2023 3,870,000 $ 3,629,100 $ 1,117,712 $ 153,335 $ 4,987,712 $ 3,782,435 $ 2024 4,025,000 3,474,300 1,182,155 122,138 5,207,155 3,596,438 2025 4,185,000 3,313,300 1,246,855 89,087 5,431,855 3,402,387 2026 4,350,000 3,145,900 1,321,817 54,243 5,671,817 3,200,143 2027 4,525,000 2,971,900 877,050 17,322 5,402,050 2,989,222 2028-2032 25,490,000 11,995,300 - - 25,490,000 11,995,300 2033-2037 30,760,000 6,725,400 - - 30,760,000 6,725,400 2038 -2041 28,070,000 1,920,319 - - 28,070,000 1,920,319 Total Requirements 105,275,000 37,175,519$ 5,745,589$ 436,125$ 111,020,589 37,611,644$ Plus unamortized premium 14,522,828 14,522,828
Total 119,797,828$ 125,543,417$
Total
Governmental Activities
Certificates of Participation Notes and Leases from Placement For the Year
Ending June 30, Principal Interest
2023 1,110,000 $ 409,306 $
2024 1,145,000 369,307
2025 1,195,000 327,137
2026 1,235,000 282,126
2027 1,280,000 235,450
2028 - 2032 4,850,000 476,350
Total Requirements 10,815,000 2,099,676
Plus unamortized premium 700,157 -
Total 11,515,157$ 2,099,676$
Business-Type Activities
The City's bond indentures contain significant limitations and restrict ions regarding annual debt service requirements, maintenance of and flow of monies through various restricted accounts and minimum revenue bond coverage. City management believes the City is in compliance with all such indenture requirements.
Revenue Bonds
On September 18, 2012, the City issued Wastewater Revenue Refunding Bonds, Series 2012 in the original principal amount of $10,080,000 at interest rates that range from 1.50 percent to 4.00 percent to provide for a refunding of the City's outstanding 2004 Certificat es of Participation Wastewater System Improvement Bonds. Principal payments are due annually on February 1, with interest payments payable semi-annually on August 1 and February 1 through February 1, 2 029. Repayment of these bond s is from a pledge of revenue from the Sewer Enterprise Fund. As of June 30, 2022, the principal balance outstanding was $4,705,000.
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CITY OF CONCORD JUNE 30, 2022
NOTE 7 – LONG-TERM DEBT (CONTINUED)
Revenue Bonds (Continued)
On February 27, 2018, the City issued Wastewater Revenue Refunding Bonds, Series 2018 in the original principal amount of $7,920,000 at interest rates that range from 2.00 percent to 5.00 percent to provide for a refunding of the City's outstanding 2007 Certificat es of Participation Wastewater System Improvement Bonds. Principal payments are paid annually on February 1. Interest is paid semi-annually on August 1 and February 1, through 2032. Repayment of these bonds is from a pledge of revenue from the Sewer Enterprise Fund. As of June 30, 2022, the principal balance outstanding was $6,110,000 In the event of default on the 2012 and 2018 Bonds, upon notice in writing to the City, the principal and accrued interest of all bonds outstanding will be due and payable immediately.
The City has pledged future wastewater customer reve nues, net of specified operating expenses, to repay the 2012 and 2018 Bonds through 2032. The Sewer Enterprise Fund’s total principal and interest remaining to be paid on the bonds is $12,914,676. The Municipal Sewer Enterprise Fund’s principal and interest pai d
for the current year and total customer net revenues were $1,521,281 and $12,551,608, respectively.
Certificates of Participation
On April 28, 2021, the City through the Public Property Financing Corporation of California (Corporation) issued the 2021 Capital Improvement Project Certificates of Participation in the original principal amount of $109,480,000 at interest rates that range from 2.00 percent to 4.00 percent to finance the cost of various capital projects and to prepay the 2015 Lease Revenue Financing Agreement. The Bonds are collateralized by revenue received from the City by the Corporation under a lease ag reement and by the Corporation’s interest in the Concord Pavilion and the City’s Police Station through a site and facilities lease. Principal payments are paid annually on Apr il 1. Interest is paid semi-annua lly on October 1 and April 1, through 2041. Repayment of these bonds is from a pledge of lease payments from the City’s General Fund. As of June 30, 2022, the principal balance outstanding was $105,275,000.
In the event of default, the Corporation can use any and all remedies available, however there is no right to accelerate the lease payments or to declare any lease payments immediately due and payable. The City shall continue to remain liable for the payment of the lease payments and any damages for breach of the lease agreement and the performance of all conditions contained in the lease agreement.
Lease Purchase Agreement
On February 21, 2018, the City a nd the Public Property Financing Co rporation entered into a direct placement Refunding Lease Agreement in the amount of $6,820,000 at the interest rate of 2.78%. The proceeds from the Agreement were used to retire the 2011 Equipment Lease/Purchase Agreement. Principal and interest payments are paid semi- annually on Ju ne 1 and December 1, through 2026. As of June 30, 2022, the principal balance outstanding is $3,910,000.
In the event of default, the Corpor ation may exercise any and all remedi es available under the law or the agreement. Those remedies include: enforcement of payments without termination, termination of the lease, proceedings at law or in equity, remedies under the site and facility lease. 73
CITY OF CONCORD JUNE 30, 2022
NOTE 7 – LONG-TERM DEBT (CONTINUED)
Lease Financing
On October 16, 2019, the City entered into a direct placement lease agreement in the amount of $2,503,678 with Motorola Solutions, Inc., for the purchase of radio equipment. Th e City agreed to pay the lease in annual payments of $397,561 for seven years. Since the lease is in essence a financing agreement, the cost of the equipment and the amount of th e lease has been included in the Ci ty's financial statements. As of June 30, 2022, the principal debt outstanding on the lease was $1,835,589.
In the event of default, the lessor may exercise any of the following options: by written notice declare all amounts due and payable under the lease, discontinue the use of equipment and removal and return of the equipment to the lessor.
NOTE 8 – FUND BALANCES
Detailed classifications of the City's Governmental Fund Balances, as of June 30, 2022, are below:
Major Funds
Special Revenue Funds Capital Projects Funds Other
General Concord G eneral 2021 COP Gov ernmental
Fund Balance Classifications Fund Housing ARPA Projects Projects Funds Total Nonspendable:
Item s not in spendable form :
Advance 11,704,631$ - $ -$ -$ -$ -$ 11,704,631$ Inventories 176,597 - - - - - 176,597
Total Nonspendable
Fund Balances 11,881,228 - - - - - 11,881,228 Restricted for:
Debt Service - - - - - 13,166 13,166
Capital Projects - - - 2,331,978 112,229,882 11,918,189 126,480,049 Housing - 34,141,250 - - 3,405,244 37,546,494
Health Care District - - - - - 491,615 491,615
Transportation - - - - - 7,111,040 7,111,040
Developm ent Services - - - - - 20,166,503 20,166,503 Asset Forfei ture - - - - - 381,125 381,125
Tree Maintenance - - - - - 48,118 48,118
Public Safety 1,165,810 - - - - - 1,165,810
Other 7,334 - - - - - 7,334
Total Restricted Fund Balances 1,173,144 34,141,250 - 2,331,978 112,229,882 43,535,000 193,411,254 Assigned to:
Capital Projects - - - 1,189,146 22,020,628 23,209,774 Contracts 1,845,528 - - - - - 1,845,528
Sales Tax Collection 252,000 - - - - - 252,000
Senior Center 49,974 - - - - - 49,974
Sister City 25,000 - - - - - 25,000
Music and Market Event 292,935 - - - - - 292,935
Building Deposits 848,938 - - - - 848,938
Other - - 118,162 - - - 118,162
Tota
l Assigned Fund Balances 3,314,375 - 118,162 1,189,146 - 22,020,628 26,642,311 U nassigned :
G eneral Fund 45,490,014 - - - - - 45,490,014 Other G overnm ental Fund Deficit Residuals - - - - - (1,045) (1,045) Total Unassigned Fund Balances 45,490,014 - - - - (1,045) 45,488,969 Total Fund Balances 61,858,761$ 34,141,250$ 118,162$ 3,521,124$ 112,229,882$ 65,554,583$ 277,423,762$ 74
CITY OF CONCORD JUNE 30, 2022
NOTE 9 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
Expenditures in Excess of Appropriations
Expenditures for the year ended June 30, 2022 exceeded the appropriations in the following funds:
Expenditures in Excess of Appropriations Budget Actual Variance General Fund
Public Safety 62,403,476$ 64,423,044$ (2,019,568)$ Debt Service:
Principal - 29,286 (29,286)
Interest and fiscal charges 304,601 414,127 (109,526) ARPA Special Revenue Fund 4,960,995 5,667,944 (706,949) The excess expenditures were covered by revenue received during the fiscal year.
Deficit Fund Equity
As of June 30, 2022, the Assessment Districts Debt Service Fund had deficit fund balances of $1,045 which is expected to be eliminated by future revenues. The Successor Agency Private Purpose Trust Fund had deficit net position of $6,826,613 which is expected to continue until the debt service obligations are satisfied from future property tax allocations. In addition, the Compensated Absences Internal Service
Fund had deficit net position of $5,235,793 which is expected to be elim inated by future cost reimbursements by City departments.
NOTE 10 – CITY OF CONCORD RETIREMENT SYSTEM PLAN
Plan Description and Employees Covered
The City of Concord Retirement System Plan (the pl an) is a closed plan and is a single employer defined benefit pension plan covering all full-time employees of the City retired prior to June 28, 1999 or who left the employment of the City eligible for a pension. Participants are divided into two primary groups for coverage: general employees and police employees. Membership in the Retirement System comprised the following at June 30, 2022:
CCRS
Inactives currently receiving benefits 211
Inactives entitled to but not yet receiving benefits 19 Active em ployees -
Total 230
On June 21, 1993, the City converted to the Public Employees Retirement System (PERS) as described in Note 12.
Eligibility, administration, actuarial interest rates an d certain other tasks are the responsibility of the Retirement Board. The Retirement Board consists of eight members, selected as follows: Two members appointed by City Manager, Director
of Human Reso urces, Director of Finance and one representative from each of the four employee organizations. The Plan does not issue separate financial statements. 75
CITY OF CONCORD JUNE 30, 2022
NOTE 10 – CITY OF CONCORD RETIREMENT SYSTEM PLAN (CONTINUED) During the year ended June 30, 1999, $56,300,000 was transferred from the Plan to PERS to purchase prior years' service credit for its active vested employees.
Benefits Provided
The plan provides retirement and death benefits fo r general and police employees as well as disability benefits for police employees. General employees are el igible for retirement benefits at age 55, provided the employee has completed 20 years of service or has accumulated cont ributions in excess of $500 and was employed before June 30, 1990 or has completed 5 years of service and was terminated after July 1, 1990. Sworn police employees are eligible for retirement at age 50, provided the employee has completed
20 years of service or has accumulated contributions exceeding $500. Retirement benefits are determined based on the employee's length of service, highest on e-year compensation upon retirement, and age at retirement.
Contributions
Prior to June 21, 1993, contributions were made to the Plan by both the City and the employee participants.
City contributions were actuarially determined annually to provide the Pl an with assets sufficient to pay basic benefits not provided for by employees' contributions. All general employees were required to contribute 6 percent, and all police employees were requ ired to contribute 8 percent of their base salary (decreased by a Social Security allowance) to the Plan. The City is funding the Unfunded Actuarial Accrued Liability with annual contributions from the General Fund.
The City contributed 4 percent to 8 percent of this percentage on behalf of general employees, depending upon job classification, and all of the contribution for sworn police employees.
The City maintains a program of death and disability benefits financed wholly by employer premium payments under a group term life insurance policy and group long-term disability insurance policy.
The pension liability was determined as part of an actuarial valuation at June 30, 2020. Significant actuarial assumptions used in determining the pension liability include: (a) a rate of return on the investment of present and future assets of 5.50 percent per year co mpounded annually, (b) inflation rate of 2.50 percent (c) annual post- employment increases at 5.50 per cent per year. Required contributions are determined using the entry age normal actuarial cost method and are made on a level dollar basis. The plan is amortized using the CalPERS Mortality Table on a 15 year closed basis. The contribution amounts are established and may be amended by the City Council.
Rate of Return
For the year ended June 30, 2022, the annual money-weig hted rate of return on pension plan investments, net of pension plan invest ment expense, was (11.56%). The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested. 76
CITY OF CONCORD JUNE 30, 2022
NOTE 10 – CITY OF CONCORD RETIREMENT SYSTEM PLAN (CONTINUED)
Net Pension Liability
The City’s net pension liability was measured as of Ju ne 30, 2022, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2020 and rolled forward to June 30, 2022 using standard update procedures.
Actuarial Assumptions - The total pension liability in the June 30, 2022 actuarial valuation was determined using the following actuarial assumptions:
CCRS
Valuation Date June 30, 2020
Measurement Date June 30, 2022
Actuarial Cost Method Entry-Age Normal Cost Method
Actuarial Assumptions:
Discount Rate 5.5% at June 30, 2022 and June 30, 2021
Investment Rate of Return 5.5% at June 30, 2022 and June 30, 2021 (1) General Inflation 2.5% annually
COLA 2% per annum
Salary Scale Not applicable
Mortality Improvement Mortality projected fully generational with Scale MP-2020 Retirement Age 100% at 59 for general and 54 for police (1) Net of pension plan investment expenses, including inflation
Mortality rates were based on the CalPERS 1997-2015 Experience Study fully generational improvement projected based on Scale MP-2020.
The long-term expected rate of return on plan inve stments was determined using a building block method which best estimate ranges of expected future real ra tes of return (expected return, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation.
The table below reflects geometric average real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount rate and asset allocation.
These geometric rates of return are net of administrative expenses.
Asset Class Target Allocation
Expected Real
Rate of Return
Global Equity 48.25% 4.56%
Fixed Income 45.00% 0.78%
REITs 1.75% 4.06%
Cash 5.00% -0.50%
Total 100%
Assumed Long-Term Rate of Inflation 2.50%
Expected Long-Term Net Rate of Return, Rounded 5.50%
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CITY OF CONCORD JUNE 30, 2022
NOTE 10 – CITY OF CONCORD RETIREMENT SYSTEM PLAN (CONTINUED) Discount Rate – The discount rate used to measure the total pension liability was 5.50 percent for the plan.
The project of cash flows used to determine the discount rate assumed that employee contributions will be
made at the current contribution rate and that the City ’s contributions will be made at rates equal to the difference between actuarially determined contri bution rates and the employee rate. Based on those assumptions, the pension plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the long-term expected rate of return on pension plan investments was applied to a ll periods of projected benefit payments to determine the total pension liability.
Changes in the Net Pension Liability
The changes in the net pension liability for the plan are as follows:
CCRS Plan
Increase (Decrease)
Total Pension
Liability
Plan Fiduciary
Net Position
Net Pension
Liability/(Asset)
Balance at June 30, 2021 52,843,146$ 32,892,588 $ 19,950,558 $ Changes in the year:
Interest on the total pension liability 2,761,278 - 2,761,278 Differences between actual and ex pected ex perience - - - C hanges in assum ptions - - - Contribution - em ployer - 5,087,000 (5,087,000)
Contribution - em ployees - - -
Net investment income - (3,358,405) 3,358,405
Adm inistrative ex penses - (173,931) 173,931
Benefit payments, including refunds of employee contributions (5,276,196) (5,276,196) - Net changes (2,514,918) (3,721,532) 1,206,614
Balance at June 30, 2022 50,328,228$ 29,171,056$ 21,157,172$ Plan net position as a percentage of the total pension liability 58.0% Sensitivity of the Net Pension Liability to Changes in the Discount Rate – The following presents the net pension liability of the City, calculated using th e discount rate of 5.50 percent as well as what the City’s 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.
CCRS Plan
1% Decrease 4.50%
Net Pension Liability 25,183,602$
Current Discount Rate 5.50%
Net Pension Liability 21,157,172$
1% Increase 6.50%
Net Pension Liability 17,646,220$
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CITY OF CONCORD JUNE 30, 2022
NOTE 10 – CITY OF CONCORD RETIREMENT SYSTEM PLAN (CONTINUED) Pension expenses and deferred outflows/inflows of resources related to pensions For the fiscal year ending June 30, 2022, the City recognized pension expense of $1,648,363. At June 30, 2022, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
CCRS Plan
Deferred Outflows Deferred Inflows
of Resources of Resources
Net differences between projected and actual earnings
on plan investments 2,248,691$ -$
Total 2,248,691$ -$
Amounts reported as deferred outflows and deferred in flows of resources related to pensions will be recognized in future pension expense as follows:
CCRS Plan
Y ear Ended Annual
June 30 Am ortization
2023 405,202$
2024 455,733
2025 362,699
2026 1,025,057
Total 2,248,691$
NOTE 11 – CITY OF CONCORD EARLY RETIREMENT PLANS
Plan Description and Provisions
On September 1, 2009, the City adopted a sole employer defined benefit plan to provide supplemental retirement benefit payments to elig ible employees in addition to the benefit payments the employees will receive from the California Public Employees Retirement System (CalPERS).
The City joined Public Agency Retirement Servic es (PARS) and participates in two plans, the Supplementary Retirement Plan and the Excess Benefit Plan. The Excess Benefit Plan consists of the highly compensated members and the Supplementary Plan includes all other eligible employees. To be eligible to participate in the plan the employee must have been classified as a Miscellaneous or Safety employee of the City as of June 1, 2009, be at least 50 years of age as of September 1, 2009, have completed as least 5 years of employment with the City as of September 1, 2009, have terminated employment with the City on or before August 31, 2009, have a pplied for benefits under this plan and must have concurrently retired under CalPERS on or before September 1, 2009 and remains in retired status under CalPERS. A member is considered fully vested upon meeting the eligibilit y requirements listed above. Benefits payments are based on 7 percent of an employee's annual base pay as of June 1, 2009.
As of June 30, 2022, there were 16
members participating in these plans.
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CITY OF CONCORD JUNE 30, 2022
NOTE 11 – CITY OF CONCORD EARLY RETIREMENT PLANS (CONTINUED) Contribution Requirements
The City established a plan within the PARS Trust. The cost of funding the Plan including management fees is roughly equivalent to one year of an employ ee's salary for each participating employee. The City funded the Plan over a period of 5 years, choosing to buy annuities to fund the Plan, and self-fund. The City used general fund salary savings to fund the Plan. The Supplementar y Retirement Plan was fully funded in September 2013. The Excess Benefit Plan has a proj ected actuarial liability in the amount of $219,930 at June 30, 2022. This estimate has not been accrued as a liability in the City’s Statement of Net Position.
NOTE 12 – PENSION PLAN
CalPERS Safety and Miscellaneous Employees’ Pension Plans Plan Description
On June 21, 1993, the City joined the California Public Employees Retirement System (CalPERS), an agent multiple-employer public employee retirement syst em which acts as a common investment and administrative agent for participating member employers.
The City contributes to the California Public Employees Retirement System (CalPERS), an agent multiple- employer defined benefit public employee retiremen t system that acts as a common investment and administrative agent for various local and state governm ental agencies within the State of California. The City’s Safety and Miscellaneous Plans are part of the Public Agency portion of CalPERS. The benefits for the public agencies are established by contract with CalPERS in accordance with the provisions of the Public Employees Retirement Law. CalPERS issues a publ
icly available financial report that include a full
description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website at https://www.calpers.ca.gov The City joined PERS on a prospective basis and participates in two plans, the Safety (Police) Employees Plan and the Miscellaneous Employees Plan. All qu alified permanent and probationary employees are eligible to participate. CalPERS provides retirem ent and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries. The City's employees participate in the separate Safety (police) and Miscellaneous (all other) Employee Plans.
Benefit provisions under both Plans are established by State statute and City resolution. Benefits are based on years of credited service, equal to one year of full time employment. Fund ing contributions for both Plans are determined annually on an actuarial basis as of June 30 by CalPERS; the City must contribute these amounts.
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CITY OF CONCORD JUNE 30, 2022
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued)
Benefits Provided
The benefits in effect as of June 30, 2022, are summarized as follows:
M iscellaneous
Hire date
Clas s ic Prior to
November 29, 2010
Classic On or after
November 29, 2010
and Prior to
January 1, 2013
PEPRA On or after
January 1, 2013
Benefit formula 2.5% @ 55 2.0% @ 55 2.0% @ 62
B enefit vesti ng schedul e 5 years servi ce 5 years servi ce 5 years servi ce Benefit payments monthly for life monthly for life monthly for life Retirement age 50 - 55 50 - 55 52 - 62
2.0% - 2.50% 1.426% - 2.418% 1.0% - 2.5%
Required employee contribution rates 8.00% 7.00% 6.75%
Required employer contribution rates (1) 10.580% 10.580% 10.580% Monthly benefits, as a % of eligible compensation
Safety
Hire date
C l assi c Pri or to
January 1, 2013
PEPRA On or after
January 1, 2013
Benefit formula 3.0% @ 50 2.7% @ 57
Benefit vesting schedule 5 years service 5 years service Benefit paym ents m onthly for life m onthly for life
Retirement age 50 50 - 57
3.0% 2.0% - 2.7%
Required em ployee contribution rates 9.0% 11.75%
Required employer contribution rates (1) 20.200% 20.200% (1) Rates represented blended contribution
rates, from 6.30.20 Valuation
Monthly benefits, as a % of eligible com pensation
Beginning in fiscal year 2016, Ca lPERS collects employer contributions for the Plan as a percentage of payroll for the normal cost portion as noted in the rates above and as a dollar amount for contributions toward the unfunded liability (UAL). The dollar amounts are billed on a monthly basis or the City can elect a lump sum payment option. The City’s required contributions for the unfunded liability in the Miscellaneous and Safety Plans for the year ended June 30, 2022 were $7,485,238 and $7,988,528 respectively, which were made under the monthly payment option.
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CITY OF CONCORD JUNE 30, 2022
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued) Employees Covered
The following employees were covered by the benefit terms for each Plan as of the most recent actuarial valuation date of June 30, 2020 and measurement date of June 30, 2021:
Miscellaneous Safety
Inactive employees or beneficiaries currently receiving benefits 469 189 Inactive employees entitled to but not yet receiving benefits 427 66 Active em ployees 235 141
Total 1,131 396
Contributions
Section 20814(c) of the Californi a Public Employees' Retirement Law requires that the employer contribution rates for all public employers be determin ed on an annual basis by the actuary and shall be effective on the July 1 following no tice of a change in the rate. Fundin g contributions for both 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 City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. Employer contribution rates may change if plan contracts are amended. Payments made by the employer to satisfy contribution requirements that are identified by the pension plan terms as plan member contributio n
requirements are classified as plan member contributions.
Net Pension Liability
The City’s net pension liability for each plan is meas ured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of each of the plans is measured as of June 30, 2021, using an annual actuarial valuation as of June 30, 2020 rolled forward to June 30, 2021 using standard update procedures. A summary of principal assumptions and methods us ed to determine the net pension liability is shown below.
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CITY OF CONCORD JUNE 30, 2022
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued) Actuarial Assumptions – The total pension liabilities in the Ju ne 30, 2020 actuarial valuations were determined using the following actuarial assumptions:
All Plans
Valuation Date June 30, 2020
Measurement Date June 30, 2021
Actuarial Cost Method Entr y-Age Normal Cost Method
Actuarial Assumptions:
Discount Rate 7.15%
Inflation 2.50%
Payroll Growth 2.75%
Projected Salary Increase (1)
Investment Rate of Return 7.15% (2)
Mortality Derived using CalPERS Membership
Data for all Funds (3)
Post Retirement Benefit Increase The lesser of contract COLA or 2.5% until Purchasing Power Protection
Allowance Floor on Purchasing Power
a
pplies, 2.50% thereafter
(1) Depending on age, service and type of employment
(2) Net of pension plan investment expenses, including inflation (3) The mortality table used was developed based on CalPERS' specific data. The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. Pre-retirement and post-retirement mortality rates include 15 years of projected mortality improvement using 90% of Scale MP-2016 published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from December 2017 that can be found on the CalPERS website.
83
CITY OF CONCORD JUNE 30, 2022
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued) The underlying mortality assumptions and all other actuarial assumptions used in the June 30, 2020 valuation were based on the results of a December 2017 actuarial experience study for the period 1997 to 2015. Further details of the Experience Study can be found on the CalPERS website at www.calpers.ca.gov.
Discount Rate – The discount rate used to measure the total pension liability for each Plan was 7.15%. The projection of cash flows used to determine the discount rate for each Plan assumed that contributions from all plan members in the Public Employees Retirement Fund (PERF) will be made at the current member contribution rates and that contributions from empl oyers will be made at statutorily required rates, actuarially determined. Based on those assumptions, each Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members for all plans in the PERF.
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 for each Plan.
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 expect ed pension fund cash flows. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calc ulated 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 for 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 e quivalent rate calculated above and adjusted to account for assumed administrative expenses.
The table below reflects the long-term expected real rates of return by asset class.
Asset C l ass (a)
Assum ed
Asset
Allocation
Real Return
Years 1 - 10(b)
Real Return
Y ears 11+ ( c)
Public Equity 50.0% 4.80% 5.98%
Fixed Income 28.0% 1.00% 2.62%
Inflation Assets 0.0% 0.77% 1.81%
Private Equity 8.0% 6.30% 7.23%
Real Assets 13.0% 3.75% 4.93%
Liquidity 1.0% 0.00% -0.92%
Total 100%
(a) In the CalPERS Annual Com prehensive Financial Report, Fix ed Incom e is included in G lobal Debt Securities; Liquidity is included in Short-term Investm ents; Inflation Assets are included in both G lobal Equity Securities and G lobal Debt Securities. (b) An ex pected inflation of 2.0% used for this period. (c) An ex pected inflation of 2.92% used for this period. 84
CITY OF CONCORD JUNE 30, 2022
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued) Changes in the Net Pension Liability
The changes in the net pension liability for each Plan follows:
Miscellaneous Plan
Increase (Decrease)
Total Pens ion
Liability
Plan Fiduciary
Net Position
Net Pension
Liability/(Asset)
Balance at June 30, 2020 (M easurement Date) 245,854,608$ 158,780,904$ 87,073,704$ Changes in the year:
Service cost 3,622,004 - 3,622,004
Interest on the total pension liability 17,290,324 - 17,290,324 Differences between actual and ex pected ex perience 1,101,738 - 1,101,738 Changes in assumptions - - -
Plan to plan resource movement - - - Contribution - em ployer - 8,772,403 (8,772,403)
Contribution - em ployee - 1,500,139 (1,500,139)
Net investm ent incom e - 36,110,112 (36,110,112)
Adm inistrative ex penses - (158,612) 158,612
Benefit paym ents, including refunds of
em ployee contributions (13,889,259) (13,889,259) - Other miscellaneous income/(ex pense) - - - Net changes 8,124,807 32,334,783 (24,209,976) Balance at June 30, 2021 (M easurement Date) 253,979,415$ 191,115,687$ 62,863,728$ Safety Plan
Increase (Decrease)
Total Pension
Liability
Plan Fiduciary
Net Position
Net Pension
L i abi l i ty/(Asset)
Balance at June 30, 2020 (M easurement Date) 306,465,497$ 190,917,758$ 115,547,739$ Changes in the year:
Service cost 5,612,270 - 5,612,270
Interest on the total pension liability 21,805,269 - 21,805,269 Differences between actual and ex pected ex perience 3,425,534 - 3,425,534 Changes in assum ptions - - -
Plan to plan resource movement - - -
Contribution - em ployer - 10,898,120 (10,898,120)
Contribution - em ployee - 2,132,642 (2,132,642)
Net investm ent incom e - 43,477,672 (43,477,672)
Adm inistrative ex penses - (190,715) 190,715
Benefit paym ents, including refunds of -
em ployee contributions (15,456,752) (15,456,752) - Other m iscellaneous incom e/(ex pense) - - -
Net changes 15,386,321 40,860,967 (25,474,646) Balance at June 30, 2021 (M easurement Date) 321,851,818$ 231,778,725$ 90,073,093$ Total for Both Plans 575,831,233$ 422,894,412$ 152,936,821$ 85
CITY OF CONCORD JUNE 30, 2022
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued) Sensitivity of the Net Pension Liability to Changes in the Discount Rate – The following presents the net pension liability of the City for each plan, calculated using the discount rate for each plan, as well as what the City’s net pension liability would be if it were calculated using a disc ount rate that is 1- percentage point lower or 1- percentage point higher than the current rate.
Miscellaneous Safety
1% Decrease 6.15% 6.15%
Net Pension Liability 93,616,817$ 134,392,061$
Current Discount Rate 7.15% 7.15%
Net Pension Liability 62,863,728$ 90,073,093$
1% Increase 8.15% 8.15%
Net Pension Liability 37,191,729$ 53,708,534$
Pension Plan Fiduciary Net Position – Detailed information about eac h pension plans’ fiduciary net position is available in the separately issued CalPERS financial reports.
Pension expenses and Deferred Outflows/Inflows of Resources Related to Pensions For the fiscal year ending June 30, 2022, the City recognized pension expense of $4,330,147 for the Miscellaneous plan and $11,088,578 for the Safety plan, for total pension expense of $15,418,725. At June 30, 2022, the City reported deferred outflows of reso urces and deferred inflows of resources related to pensions from the following sources:
Miscellaneous Plan:
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to m easurem ent date 9,770,934$ - $ Differences between actual and ex pected ex perience 633,010 - C hanges i n assum pti ons - -
Net differences between projected and actual earnings on plan investm ents - (18,063,054)
Total 10,403,944$ (18,063,054)$
Safety Plan:
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to m easurem ent date 11,652,316$ - $ Differences between actual and ex pected ex perience 6,595,032 (102,719) Changes in assumptions - -
Net differences between projected and actual earnings on plan investm ents - (21,603,477)
Total 18,247,348$ (21,706,196)$
Combined total 28,651,292$ (39,769,250)$
86
CITY OF CONCORD JUNE 30, 2022
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued) $9,770,934 and $11,652,316 reported as deferred outflows of resources related to pensions for the miscellaneous and safety plans, respectively, result ing from the City’s contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the fiscal year ended June 30, 2023. Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in pension expense as follows:
Miscellaneous Plan:
Y ear Ended Annual
June 30 Am ortization
2023 (3,988,566) $
2024 (4,128,496)
2025 (4,333,600)
2026 (4,979,382)
Total (17,430,044)$
Safety Plan:
Y ear Ended Annual
June 30 Am ortization
2023 (2,099,970) $
2024 (3,132,498)
2025 (4,131,161)
2026 (5,747,535)
Total (15,111,164)$
CalPERS Subsequent Event
On July 12, 2021, CalPERS reported a preliminary 21.30% net return on investments for fiscal year 2020-
21. Based on the thresholds specified in CalP ERS Funding Risk Mitigation policy approved by the CalPERS Board in 2015, the excess return of 14.30% prescribes a reduction in investment volatility that corresponds to a reduction in the discount rate used for funding purposes of 0.20%, from 7.00% to 6.80%.
Since CalPERS was in the final stages of the four -year Asset Liability Management (ALM) cycle, the CalPERS Board elected to defer any changes to the asset allocation until the ALM process concluded, and the board could make its final decision on the asset allocation in November 2021.
On November 17, 2021, the board adopted a new strategic asset allocation. The new asset allocation along with the new capital market assu mptions, economic assumptions and administrative expense assumption support a discount rate of 6.90% (net of investment expense, but without a reduction for administrative expense) for financial reporting purposes. This includ es a reduction in the price inflation assumption from
2.50% to 2.30% as recommended in the November 2021 CalPERS Experience Study and Review of Actuarial Assumptions. This study also recommended modifications to retirement rates, termination rates, mortality rates and rates of salary increases th at were adopted by the Ca lPERS Board. These new assumptions will be reflected in the CalPERS GASB 68 accounting valuation reports for the June 30, 2022, measurement date.
87
CITY OF CONCORD JUNE 30, 2022
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued)
Summary Information
For fiscal year 2021-2022, total pension expense for the Miscellaneous, Safety and City of Concord’s Retirement System Plans amounted to $17,067,088.
As of June 30, 2022, the City reported total net pension liability, deferred outflows of resources and deferred inflows of resources for the Miscellaneous, Safety and Concord Retirement System Plans were as follows:
Deferred Deferred
Net Pension Outflows Inflows
Plan Liability of Res ources of Res ources
CalPERS Plans:
Miscellaneous 62,863,728 $ 10,403,944 $ 18,063,054 $ Safety 90,073,093 18,247,348 21,706,196 CCRS Retirement 21, 157,172 2,248,691 - Total 174,093,993 $ 30,899,983 $ 39,769,250 $
Pension liabilities are liquidated by the fund that have recorded the lia bility. The long-term portion of the governmental activities pension liability are liquidated primarily by the General Fund.
NOTE 13 – OTHER POST-EMPLOYMENT HEATH CARE BENEFITS
Plan Description
Substantially all full-time City employees and their e ligible dependents are eligible for post-employment health care benefits under Agent Multiple Employer CalPERS sponsored health plans currently funded during the employees’ active service. During fiscal year 2018, the City implemented the provisions of Governmental Accounting Stan dards Board Statement No. 75, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions. This Statement establishes uniform financial reporting standards for employers providing postemployment benefits other than pensions (OPEB).
Required disclosures are presented below. In order to fund retiree health benefits, the City established an irrevocable trust with California Employers Retiree s Benefit Trust (CERBT). CERBT is administered by CalPERS and is managed by an appointed board not unde r the control of City Coun cil. This Trust is not considered a component unit by the City and has been excluded from these financial statements. Separately issued financial statements for CERBT may be obtained from CalPERS at P.O. Box 942709, Sacramento, California 94229-2709.
By Council resolution and through agreements with its labor units, the City provides certain health care benefits for retired employees under third-party in surance plans. A summary of contribution rates is shown below:
88
CITY OF CONCORD JUNE 30, 2022
NOTE 13 – OTHER POST-EMPLOYMENT HEATH CARE BENEFITS (CONTINUED) Benefits Provided
Retiree Couple Fam ily
For employees hired before the summer of 2016 (date depends on bargaining unit), the City pays monthly health insurance premiums up to $ 672 1,344$ 1,747$ For employees hired after the summer of 2016 (date depends on bargaining unit), the City contributes the Minim um Em ployer Contribution am ount prescribed by G overnm ent Code Section 22892 of the Public Employees' Medical and Hospital Care Act (PEMHCA). For 2022, that amount is $149 per month.
Employees Covered
As of the June 30, 2021 measurement date, membership in the Plan consisted of the following:
Number of
Covered
Participants
Inactives currently receiving benefits 462
Inactives entitled to but not yet receiving benefits 56 Active em ployees 316
Total 834
Net OPEB Liability
The City’s net OPEB liability for the plan is measured as the total OPEB liability, less the OPEB plan’s fiduciary net position. The net OPEB liability of the plan is measured as of June 30, 2021, using an annual actuarial valuation as of June 30, 2020, rolled forward to June 30, 2021 using standard update procedures.
The long-term portion of the governmental activitie s Net OPEB Liability is liquidated primarily by the Post-Retirement Health Benefit Internal Service Fund.
Actuarial Assumptions – The total OPEB liability in the plan’s June 30, 2020 actuarial valuation was determined using the following actuarial assumptions:
Actuarial Assumptions
Valuation Date June 30, 2020
Measurement Date June 30, 2021
Actuarial Cost Method Entry age Norm al, Level % of pay Actuarial Assumptions:
Discount Rate 5.75% at June 30, 2021 and 6.25% and June 30, 2020 Inflation 2.75%
Payroll G rowth Aggregate Increase - 3.00%
Investm ent Rate of Return 5.75% at June 30, 2021 and 6.25% and June 30, 2020 Mortality CalPERS 1997-2015 Ex perience Study
Mortality Im provem ent
Mortality projected fully generational with Society of Actuaries Scale MP- 2020
Non-Medicare - 7.00% for 2022, decreasing to an ultimate rate 4.00% in 2076 and later years
Medicare (Non-Kaiser) - 6.10% for 2022, decreasing to an ultimate rate of
4.00% in 2076 and later years
Medical Trend
Medicare (Kaiser) - 5.00% for 2022, decreasing to an ultimate rate of 4.00% in 2076 and later years
Currently covered - 100%
Currently waived - 80%
Healthcare Participation PEHMCA Minimum Only - 60%
89
CITY OF CONCORD JUNE 30, 2022
NOTE 13 – OTHER POST-EMPLOYMENT HEATH CARE BENEFITS (CONTINUED) The table below reflects long-term expected real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount rate and asset allocation.
These geometric rates of return are net of administrative expenses.
Expected Real Rate of
Asset Class Target Allocation Return
Global Equity 40.0% 4.56%
Fixed Income 43.0% 0.78%
TIPS 5.0% -0.08%
Commodities 4.0% 1.22%
REITs 8.0% 4.06%
Total 100.0%
Assumed Long-Term Rate of Inflation 2.75%
Expected Long-Term Net Rate of Return, Rounded 5.75%
Discount Rate – The discount rate used to measure the total OPEB liability was 5.75 percent for the plan.
The project of cash flows used to determine the discount rate assumed that employee contributions will be made at the current contribution rate and that the City ’s contributions will be made at rates equal to the difference between actuarially determined contri bution rates and the employee rate. Based on those assumptions, the plan’s fiduciary ne t position was projected to be ava ilable to make all projected future benefit payments of current active and inactive employees. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability.
Change of Assumptions – For the measurement date of June 30 , 2021, the discount rate decreased from
6.25% to 5.50%.
90
CITY OF CONCORD JUNE 30, 2022
NOTE 13 – OTHER POST-EMPLOYMENT HEATH CARE BENEFITS (CONTINUED) Changes in the Net OPEB Liability
The changes in the net OPEB liability for each plan measured as of June 30, 2021, are as follows:
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability
Balance at June 30, 2020 65,886,772$ 31,825,595$ 34,061,177$ Changes in the year:
Service cost 1,290,415 - 1,290,415
Differences between actual and expected - - -
Assumption changes 3,013,764 - 3,013,764
Interest 4,034,998 - 4,034,998
Contribution - employer - 5,316,392 (5,316,392)
Net investment income - 9,306,204 (9,306,204)
Administrative expenses - (67,742) 67,742
Benefit payment, including refundings
of employee contributions (5,234,420) (5,234,420) - Net Changes 3,104,757 9,320,434 (6,215,677)
Balance at June 30, 2021 68,991,529$ 41,146,029$ 27,845,500$ Fiscal Year Ending
Sensitivity of the Net OPEB Liability to Changes in the Discount Rate – The following presents the net OPEB liability of the City for the plan, calculated using the discount rate for each plan, as well as what the City’s net OPEB 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. 1% Decrease Current Rate 1% Increase
(4.75%) (5.75%) (6.75%)
Net OP EB Liability 34, 677,086$ 27,845,500 $ 22,047,664 $ Sensitivity of the net OPEB liability to chan ges in the Healthcare Cost Trend Rates – The following presents the net OPEB liability of the City for the plan , calculated using the healthcare cost trend rate for the plan, as well as what the City’s net OPEB liability would be if it were calculated using a healthcare cost trend rate that is 1-percentage point lower or 1-percentage point higher than the current rate. 1% Decrease Current Trend 1% Increase
Net OPEB Liability 25,256,469$ 27,845,500$ 31,221,118$ 91
CITY OF CONCORD JUNE 30, 2022
NOTE 13 – OTHER POST-EMPLOYMENT HEATH CARE BENEFITS (CONTINUED) OPEB expenses and deferred outflows/inflows of resources related to OPEB For the fiscal year ending June 30, 2022, the City recognized OPEB expense of $1,266,286 for the plan. At June 30, 2022, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Employer contributions made subsequent to the measurement date 3,690,072$ -$ Changes in assum ptions 2,411,011 (494,768)
Differences between ex pected and actual ex perience 142,927 (470,353) Net differences between projected and actual earnings on plan investm ents - (5,194,876)
Total 6,244,010$ (6,159,997)$
$3,690,072 reported as deferred outflows of resources related to OPEB for the miscellaneous and safety plans respectively resulting from the City’s contributio ns subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in the fiscal year ended June 30, 2023. Other amounts reported as deferred outflows and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:
Annual
Y ear Ended June 30, Am ortization
2023 (954,287) $
2024 (880,882)
2025 (903,281)
2026 (867,609)
2027 -
Thereafter -
Total (3,606,059)$
92
CITY OF CONCORD JUNE 30, 2022
NOTE 14 – DEFERRED COMPENSATION PLANS
City employees may also defer a portion of th eir compensation under City sponsored Deferred Compensation Plans. The City offers the opportunity to participate in one of two plans, one created in accordance with Internal Revenue Code Section 457, and one created in accordance with Internal Revenue Code 401k. Under the 457 Plan, diffe rent rules apply and amounts contri buted may be either pre-tax or after-tax depending on applicable plan rules; under the 401k Plan participants are not taxed on the deferred portion of their compensation until distributed to them. Under both plans, distributions may be made only at termination, retirement, death or in an emergency as defined by each Plan. The Plans are part of the public agency agent multiple‐employer defined contribution plans that are administered by Mission Square Retirement (formerly ICMA RC). Benefit provisions under the Plans are established by City resolution.
The City has no liability for any losses incurred by the Plans and does not participate in any gains, but does have the duty of due care that would be required of an ordinary prudent investor. The City has a contract with Mission Square to manage and invest the assets of each Plan. The administrator pools the assets of each Plan with those of other participants and does not make separate investments for the City. The assets in the Plans are the sole property of the participants or their beneficiaries. Since the assets held under the Plans are not the City’s property and are not subject to claims by general creditors of the City, they have been excluded from these financial statements. The Plans require investme nts to be stated at fair market value and it requires all gains and losses on Plan investments to accrue directly to participant accounts.
Under the terms of the employment agreement with the City Manager, the City contributes $15,000 annually to the Section 457 Plan. The City does not
make any other contributions to the Section 457 Plan.
The City provides an employer-paid 40 1(k) contribution of 2% of salary plus $2,000 per year for all Confidential employees, and 3% of salary plus $2,000 per year for Executive Management employees. The contributions are made on a per pay-period basis. This is not an “employer match”; rather, it is a contribution made to the 401(k) account on behalf of the employee. The employer contributions vest immediately.
The City’s required contributions for the year ended June 30, 2022 for both plans totaled $574,912.
NOTE 15 – LEASES
Policies
A lease is defined as a contract that conveys control of the right to use another entity’s nonfinancial asset (the underlying asset) as specified in the contract for a period of time in an exchange or exchange-like transaction. Examples of nonfinancial assets include buildings, land, vehicles, and equipment. The City recognizes lease receivables or liabilities in which ther e is $7,500 or more in pa yments for the use of an asset during the fiscal year.
Lessee - The City is a lessee for noncancellable leases of buildings and improvements. The City recognizes a lease liability and an intangible right ‐to‐use lease asset (lease asset) in the government ‐wide financial statements.
At the commencement of a lease, the City initially measures the lease lia bility at the present value of payments expected to be made dur ing the lease term. Subsequently, th e lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs. Subsequently, the lease asset is amortized on a straight‐line basis over its useful life. 93
CITY OF CONCORD JUNE 30, 2022
NOTE 15 – LEASES (CONTINUED)
Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments as follows:
The City uses the interest rate charged by the less or as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases.
The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.
The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability.
Lease assets are reported with other capital assets an d lease liabilities are reported on the statement of net position.
Lessor - The City is a lessor for noncancellable leases of commercial space, land and communication sites.
The City recognizes a lease receivable and a deferred inflow of resources in the government‐wide and fund financial statements.
At the commencement of a lease, the
City initially measures the lease receiv able at the present value of payments expected to be received during the lease te rm. Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term.
Key estimates and judgments include how the City determines (1) the discount rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease receipts as follows:
The City uses its estimated incremental borrowing rate as the discount rate for leases. The lease term includes the noncancellable period of the lease. Lease receipts included in the measurement of the lease receivable is composed of fixed payments from the lessee.
The City monitors changes in circumstances that would re quire a remeasurement of its lease, and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable. 94
CITY OF CONCORD JUNE 30, 2022
NOTE 15 – LEASES (CONTINUED)
Leases Receivable
The balances related to leases receivable and deferred inflows of resources as of June 30, 2022 were:
Deferred
Lease Inflows of
Receivable Resources
General Fund
Communication sites 2,179,566$ 2,142,138$
Land rentals 4,324,072 4,275,843
Pavilion 5,415,537 5,658,626
Parking lot 201,059 200,129
Golf Enterprise Fund
Communication sites 471,248 467,829
Total 12,591,482$ 12,744,565$
Communication Site Leases – The City leases various locations to third parties for the provisions of mobile/wireless communications services. During the year ended June 30, 2022, the City had eight leases, with original lease terms ranging from twenty to thir ty years, including the optional extension periods for six of the leases that range from five to fifteen years, and as of June 30, 2022, the leases had one to seventeen years remaining. The City recognized $281,886 in lease revenue and $46,410 in interest revenue during the current fiscal year related to these leases. Also, the City has deferred inflows of resources associated with these leases that will be recognized as revenue over the lease term.
Land Leases – The City leases land to third parties for various amusement uses, including a water park, batting cages and an amusement park. During the year ended June 30, 2022, the City had three leases that were subject to being recorded as leases receivable under generally accepted acc ounting principles. The original lease terms were ten, twenty and fifty-five y ears and as of June 30, 2022, the three leases had 2.5 years, 13 years and 27 years, respectively, remaining, including optional extension periods. One of the leases can be renewed for two additional five year te rms and one lease can be renewed for five additional five year terms. The City recogni
zed $195,459 in lease revenue and $98,974 in interest revenue during the current fiscal year related to these leases. Also, the City has deferred inflows of resources associated with these leases that will be recognized as revenue over the lease term.
Pavilion – The City leases the Concord Pavilion to a third party. The original lease term was fifteen years with an option to renew for one five year term and as of June 30, 2022, the lease had 6.5 remaining, including the optional extension period. The City re cognized $870,558 in lease revenue and $86,353 in interest revenue during the current fiscal year related to this lease. Also, the Ci ty has deferred inflows of resources associated with the lease that will be recognized as revenue over the lease term.
Parking Lot – The City leases land to a third parties for a parking lot. The original lease terms were nine years and as of June 30, 2022, the lease had 3.5 years remaining. Th e City recognized $57,180 in lease revenue and $2,292 in interest revenue during the current fiscal year related to the lease. Also, the City has deferred inflows of resources associated with the leas e that will be recognized as revenue over the lease term.
95
CITY OF CONCORD JUNE 30, 2022
NOTE 15 – LEASES (CONTINUED)
Leases Payable
A summary of the lease payable transactions for the fiscal year ended June 30, 2022, are as follows:
Balance
June 30, 2021 Balance Current
(as restated) Retirements June 30, 2022 Portion
Governmental Activities
Salvio Street Suite S 62,448$ 29,286$ 33,162$ 30,604$ Business-Type Activities
Golf Course 25,435 16,957 8,478 8,478
Total Leases Payable 87,883$ 46,243$ 41,640$ 39,082$ Salvio Street Suite S – The City entered into a five year lease agreement as lessee for the use of office space that commenced in May 2018. An initial lease liability was recorded in the amount of $62,448 during the current fiscal year. As of June 30, 2022, the value of the lease liability was $33,162. The City is required to make monthly principal and interest payments of $2,440. The lease bear s the City’s incremental borrowing rate of 0.5135%. The value of the right-to-use asset as of the end of the current fiscal year was $62,448 and had accumulated amortization of $29,975.
Golf Course Lease – The City entered into a thirty-four year lease agreement with the federal government as lessee for the use of land for the golf course that commenced in January 1989. An initial lease liability was recorded in the amount of $25,435 during the current fiscal year. As of June 30, 2022, the value of the lease liability was $8,478. The City is required to make monthly principal and interest payments of $8,500.
The lease bears the City’s incremental borrowing rate of 0.5135%. The value of the right-to-use asset as of the end of the current fiscal year was $25,435 and had accumulated amortization of $16,956.
The future principal and interest lease payments as of June 30, 2022, were as follows:
Governmental Activities Business-Type Activities
For the Year
Ended June 30 Principal Inter est Total Principal Interest Total 2023 30,604 $ 98$ 30,702$ 8,478$ 22$ 8,500 $ 2024 2,558 1 2,559 - - -
Total 33,162$ 99$ 33,261$ 8,478$ 22$ 8,500 $ 96
CITY OF CONCORD JUNE 30, 2022
NOTE 16 – RISK MANAGEMENT AND INSURANCE
Insurance Risk Pool
In July 2003, the City joined th e California State Association of Counties - Excess Insurance Authority (CSAC- EIA), a joint powers authority. During fis cal year 2019-2020, CSAC-EIA began operating under the name Public Risk Innovation, Solutions, and Management (PRISM). PRISM provides coverage against the following types of loss risks, including commer cial insurance coverage, under the terms of a joint- powers agreement with the City and several other cities and governmental agencies as follows:
Type of Coverage (Deductible) Coverage Limits
General Liability ($500,000) 25,000,000 $
Optional Excess Liability ($25,000,000) 25,000,000 $
Workers' Compensation ($500,000) Statutory
All Risk Property 600,000,000$
($10,000 per occurrence)
Property Flood Risk 225,000,000$
($100,000 per occurrence)
Earthquake (5 percent with a $100,000 minimum) 465,000,000 $ PRISM was established for the purpose of creating a risk management pool for all California public entities.
PRISM is governed by a Board of Directors consisting of representatives of its member public entities.
The City's deposits with PRISM are in accordance with formulas established by PRISM. Actual surpluses or losses are shared according to a formula developed from overall loss costs and spread to member entities on a percentage basis after a retrospective rating.
Audited financial statements for PRISM are availa ble from PRISM at 75 Iron Point Circle, Folsom, California 95630.
The City is self-insured for auto physical damage claims.
For the years ended June 30, 2022, 2021 and 2020, the amount of settlements did not exceed insurance coverage.
Uninsured Claims Payable
The City provides for the uninsure d portion of claims and judgments in its Risk Management (general liability and auto physical dama ge) and Workers' Compensation Inte rnal Service Funds. Claims and judgments, including a provision for claims incurred but not reported, are recorded when a loss is deemed probable of assertion and the amount of the loss is reasonably determinable. 97
CITY OF CONCORD JUNE 30, 2022
NOTE 16 – RISK MANAGEMENT AND INSURANCE (CONTINUED)
The City's liability for uninsured claims is limited to worker's compen sation, general liability and auto physical damage claims, as discussed above, which are reported at their present value using expected future investment yield assumptions ranging from 3 percent. In addition, the gene ral liability claims are based on an 80 percent confidence level. The undiscounted wo rker's compensation claims totaled $16,016,053 and undiscounted general liability claims totaled $3,332,351 at June 30, 2022.
The change in the claims liabilities, including clai ms incurred but not reported are based on independe nt
actuarial studies and were computed and recorded on a discounted basis as follows for the years ended June 30, 2021 and June 30, 2022:
Workers Risk
Compensation Management/
Internal Service Liability Internal Total Total
Fund Service Fund 2022 2021
Beginning balance 13,501,802$ 4,210,603$ 17,712,405$ 17,130,633$ Liability for current fiscal year claims 3,044,000 1,172,000 4,216,000 3,812,236 Change in liability for prior fiscal year claims and
claims incurred but not reported (IBNR) (1,278,160) (1,172,000) (2,450,160) (976,181) Claims paid (1,339,922) (891,384) (2,231,306) (2,254,283) Ending balance 13,927,720$ 3,319,219$ 17,246,939$ 17,712,405$ Current portion 2,384,113$ 1,486,251$ 3,870,364$ 3,259,032$ Health Care
The City provides its employees with a choice of five different medical insurance plans through CalPERS.
The City pays the premium up to $1 ,878 per month per employee. The Ci ty also provides its employees with Dental Insurance, paying premiums up to $211 per month per employee. The City also provides long- term disability and life insurance to its employees.
NOTE 17 – COMMITMENTS AND CONTINGENCIES
The City is subject to litigation arising in the normal course of business. In the opinion of the City Attorney there is no additional pending litigation, which is likely to have material adverse effect on the financial position of the City.
The City participates in several Federal and State grant programs. Th ese programs have been audited through the fiscal year ended June 30, 2022. No cost disallowances were proposed as a result of these audits; however, these programs are still subject to further examination by the grantors and the amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time. The City
expects such amounts, if any, to be immaterial.
98
CITY OF CONCORD JUNE 30, 2022
NOTE 17 – COMMITMENTS AND CONTINGENCIES (CONTINUED)
Encumbrances
The City uses an encumbrance system as an extens ion of normal budgetary accounting for governmental funds. Under this system, purchase orders, contracts, and other commitments for the expenditure of monies are recorded in order to reserve that portion of a pplicable appropriations. Encumbrances outstanding at year-end are recorded as restricted, committed or assigned fund balance, depending on the classification of the resources to be used to liquidate the encumbrance, since they do not constitute expenditures or liabilities .
Outstanding encumbrances at year-end are automa tically reappropriated for the following year.
Unencumbered and unexpended appropriations lapse at year-end.
Encumbrances outstanding as of June 30, 2022, were as listed below:
Am ount
Major G overnm ental Funds
General Fund 2,107,072 $
Concord Housing Special Revenue Fund 23,881
ARPA Special Revenue Fund 23,478
General Projects Capital Projects Fund 2,492,771
2021 COPS Projects Capital Projects Fund 2,108,959
Total Major Governmental Funds 6,756,161
Non-Major G overnm ental Funds:
State G as Tax Special Revenue Fund 207,676
Maintenance District Special Revenue Fund 142,407
Housing and Com m unity Services Special Revenue Fund 815,719 Storm Water Managem ent Special Revenue Fund 25,572
Public Education and G overnm ent Special Revenue Fund 197,508 G eneral Plan Reimbursement Special Revenue fund 350,998 Special Developers Capital Projects Fund 69,277
Inter-G overnmental Capital Projects Fund 505,424
Measure V Capital Im provem ents Fund 1,010,810
Total Non-Major G overnm ental Funds 3,325,391
Total Encumbrances Outstanding 10,081,552$
99
CITY OF CONCORD JUNE 30, 2022
NOTE 18 – REDEVELOPMENT SUCCESSOR AGENCY ACTIVITIES
Redevelopment Dissolution
In an effort to balance its budget, the State of California adopted ABx1 26 on June 28, 2011, amended by AB1484 on June 27, 2012, which suspended all new re development activities except for limited specified activities as of that date and dissolved redevelopment agencies on January 31, 2012.
The suspension provisions prohibited all redevelopment agencies from a wide range of activities, including incurring new indebtedness or obligati ons, entering into or modifying agreements or contracts, acquiring or disposing of real property, taking actions to adopt or amend redevelopment plans and other similar actions, except actions required by law or to carry out existing enforceable obligations, as defined in ABx1
26. ABx1 26 and AB1484 created the regulatory
authority, the Successor Agency Oversight Board, under
the direction of the State Controller and Department of Finance (DOF), to review former Agency's asset transfer, obligation payments a nd wind down activities. ABx1 26 specifically directs the State Controller to review the activities of all redevelopment agencies to determine whether an asset transfer between an agency and any public agency occurred on or after January 1, 2011. If an asset transfer did occur and the public agency that received the asset is not contra ctually committed to a third party for the expenditure or encumbrance of the asset, the legislation purports to require the State Controller to order the asset returned to the Redevelopment Agency or, on or after February 1, 2012, to the Successor Agency.
Effective January 31, 2012, the Redevelopment Agency was dissolved. Certain assets of the Redevelopment Agency Low and Moderate Income Housing Fund we re distributed to a Housing Successor; and all remaining Redevelopment Agency assets and liabilities were distributed to a Successor Agency.
Under the provisions of AB 1484, the City elected to become the Housing Successor and retain the housing assets. On February 1, 2012, certain housing assets were transferred to the City's Concord Housing Fund, a special revenue fund.
The activities of the Housing Successor are reported in the Concord Housing Special Revenue Fund as the City has control of those assets, which may be used in accordance with the low and moderate income housing provisions of California Redevelopment Law.
The City also elected to become the Successor Ag ency and on February 1, 2012 the Redevelopment Agency's remaining assets were distributed to and liabilities were assumed by the Successor Agency. ABx1 26 requires the establishment of an Oversight Board to oversee the activities of the Successor Agency and one was established in April 2012 . The activities of the Successor Ag ency are subject to review and approval of the Oversight Board, which was comprise d of seven members, including one City employee appointed by the Mayor. Effective July 1, 2018, a new Countywide Oversight Board was established pursuant to the dissolution law.
The activities of the Successor Agen cy are reported in the Successor Agency Private-Purpose Trust Fund as the activities are under the control of the Oversight Board. The City provides administrative services to the Successor Agency to wind down the affairs of the former Redevelopment Agency. 100
CITY OF CONCORD JUNE 30, 2022
NOTE 18 – REDEVELOPMENT SUCCESSOR AGENCY ACTIVITIES (CONTINUED) The following notes provide more information regarding assets and liabilities of the Successor Agency.
Loan Receivable
The Successor Agency assumed the non-housing loans receivable of the former Redevelopment Agency as of February 1, 2012. The former Redevelopment Agency engaged in programs designed to encourage construction of, or improvement to, low-to-moderate income housing. Under these programs, grants or loans were provided under favorable terms to homeowners or developers who agreed to expend these funds in accordance with the former Agen cy's terms. The balances of the lo an receivable arising from the non- housing programs at June 30, 2022 are set forth below:
Concord Residential Club
Low and no interest loans were made by the former Redevelopment Agency to provide businesses assistance for rehabilitating buildings in the downtown area and to businesses or individuals for the rehabilitation of housing within the City of Concord owned and/or occupied by persons of low and moderate income. As of June 30, 2022, the loan balance was $230,003 an accrued interest on the loan totaled $438,150.
Pooled Investments
As of June 30, 2022, the Successor Agen
cy held assets within the City investment pool totaling $1,008,595.
Cash with Fiscal Agents
As of June 30, 2022, the Successor Agency held assets with fiscal agents totaling $6,769.
Long-Term Debt
The Successor Agency assumed the long-term debt of the former Redevelopment Agency as of February 2012.
The Successor Agency's debt issu es and transactions are summari zed below and discussed in detail thereafter.
Current Year Transactions and Balances
Balance as of Balance as of Current
June 30, 2021 Retirements June 30, 2022 Portion
2014 Tax Allocation Refunding Bonds
4.0-5.00%, due 03/01/2025 10,435,000$ 2,690,000$ 7,745,000$ 2,825,000$ Plus premium on refunding bonds 1,977,446 494,362 1,483,084 - Total Tax Allocation Bonds 12,412,446$ 3,184,362$ 9,228,084$ 2,825,000$ 101
CITY OF CONCORD JUNE 30, 2022
NOTE 18 – REDEVELOPMENT SUCCESSOR AGENCY ACTIVITIES (CONTINUED) Debt Service Requirements
Annual debt service requirements are shown below:
For the Y ear Ending
June 30: Principal Interest
2023 2,825,000 $ 387,250 $
2024 2,400,000 246,000
2025 2,520,000 126,000
Total Requirements 7,745,000 759,250
Plus Unam ortized Bond Prem ium 1,483,084 -
Total 9,228,084$ 759,250$
Bonds
Tax Allocation Bonds (TABs) Outstanding
On August 27, 2014 the California Department of Fi nance approved for the Successor Agency to issue $37,550,000 of Series 2014 Tax Allocation Refunding Bonds to defease and retire the 2004 Tax Allocation Bonds and retire the Concord Joint Powers Financ ing Authority Lease Revenue Bonds secured by a reimbursement agreement between the Successor Agen cy and the City of Concord for pledged tax increment revenues from the Central Concord Redevelopment Project. On October 1, 2014, the Series 2014 bonds were issued and the 2004 Bonds and Lease Reve nue bonds were fully red eemed on November 3, 2014.
The 2014 TABs are payable annually on March 1. The 2014 TABs are special obligations of the Agency and are secured by the Agency's tax increment revenues. With the dissolution of the Redevelopment Agency discussed above, Tax Increment is no longer distri buted, and instead the Successor Agency receives payments from the County's Redevelopment Property Tax Trust Fund (RPTTF) that are to be used to fund debt service on the Bonds, with no distinction between housing and no n-housing revenues. In addition, under the provisions of the laws dissolving the Redevelopment Agency, the Successor Agency only receives the funds necessary to fulfill its approved obligations. The TABs are 100 percent secured by a surety bond issued by AMBAC Assurance as of June 30, 2022.
The pledge of future tax increment revenues ends upon repayment of the $8,504,250 (principal and interest) in remaining debt service on the Agency's Tax Allocation Bonds which is scheduled to occur in 2025. For fiscal year 2022 RPTTF amounted to $4,030,676 which represented coverage of 1.25 over the $3,211,750 in debt
service. With the dissolution of the Re development Agency discus sed above, Tax Increment is no longer distributed, and instead the Successor Agency receives payments from the County's Redevelopment Property Tax Trust Fund (RPTTF) that are to be used to fund repayment under the reimbursement agreement. In additi on, under the provisions of the la ws dissolving the Redevelopment Agency, the Successor Agency only receives the funds necessary to fulfill its approved obligations. The outstanding balance on the bonds as of June 30, 2022 was $7,745,000 with interest rates ranging from 4 to 5 percent.
102
CITY OF CONCORD JUNE 30, 2022
NOTE 18 – REDEVELOPMENT SUCCESSOR AGENCY ACTIVITIES (CONTINUED) Commitments and Contingencies
State Approval of Enforceable Obligations
The Successor Agency prepares a Recognized Obligation Payment Schedule (ROPS) annually that contains all proposed expenditures for the subsequent twelve-month period. The ROPS is subject to the review and approval of the Oversight Board as well as the State Department of Finance. Although the State Department of Finance may not question items included on the ROPS in one period, they may question the same items in a future period and disallow associated activities. The amount, if any, of current obligations that may be denied by the State Department of Finance cannot be determined at this time . The City expects such amounts, if any, to be immaterial.
103
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CITY OF CONCORD JUNE 30, 2022
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF CONCORD JUNE 30, 2022
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS CalPERS Miscellaneous Plan – Agent Multiple-Employer Defined Benefit Pension Plan Last 10 Years*
M easurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 Total Pension Liab ility
Service Cost 2,890,989$ 3,018,180$ 2,997,825$ 3,355,005$ 3,868,011$ Interest 13,096,282 13,671,707 14,191,823 14,505,723 15,288,854 Differences between ex pected and actual ex perience - 738,338 22,946 (1,288,985) 5,255,833 Changes in assum ptions - (3,200,990) - 11,460,291 (1,752,822) Changes in benefits - - - - -
Benefit paym ents, including refunds
of em ployee contributions (9,206,786) (9,773,556) (10,033,970) (10,318,668) (11,016,016) Net change in total p ension liab ility 6,780,485 4,453,679 7,178,624 17,713,366 11,643,860 Total pension liability - beginning 177,774,980 184,555,465 189,009,144 196,187,768 213,901,134 Total p ension liab ility - end ing (a) 184,555,465$ 189,009,144$ 196,187,768$ 213,901,134$ 225,544,994$ Plan fiduciary net position
Contributions - em ployer 4,399,819$ 4,836,917$ 5,333,899$ 6,081,150$ 6,548,823$ Contributions - em ployee 1,342,831 1,338,554 1,349,589 1,502,951 1,632,544 Net investment income 19,760,541 2,942,666 659,376 14,191,716 11,752,209 Benefit paym ents, including refunds
of em ployee contributions (9,206,786) (9,773,556) (10,033,970) (10,318,668) (11,016,016) Plan to plan resource m ovem ent - (53,698) (1,397) - (342) Ad
m inistrative ex pense - (147,283) (79,697) (188,978) (217,012) Other m iscellaneous incom e/(ex pense) - - - - (412,110) Net change in plan fiduciary net position 16,296,405 (856,400) (2,772,200) 11,268,171 8,288,096 Plan fiduciary net position - beginning 115,328,525 131,624,930 130,768,530 127,996,330 139,264,501 Plan fiduciary net position - ending (b) 131,624,930$ 130,768,530$ 127,996,330$ 139,264,501$ 147,552,597$ Net pension liability - ending (a)-(b) 52,930,535$ 58,240,614$ 68,191,438$ 74,636,633$ 77,992,397$ Plan fiduciary net position as a percentage of the
total pension liability 71.32% 69.19% 65.24% 65.11% 65.42% Covered payroll 16,255,025$ 17,128,929$ 17,838,673$ 19,770,939$ 21,505,077$ Net pension liability as percentage of covered payroll 325.63% 340.01% 382.27% 377.51% 362.67% Notes to Schedule:
* Fiscal year 2015 was the 1st year of im plem entation, therefore only eight years are shown.
Source: CalPERS Accounting V aluation
Changes in assum p tions. In 2017, the accounting discount rate reduced from 7.65 percent to 7.15 percent. In 2016, 2018, 2019, 2020 and 2021, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of adm inistrative ex pense) to 7.65 percent (without a reduction for pension plan adm inistrative ex pense.) In 2014, am ounts reported were based on the 7.5 percent discount rate. All other assum ptions for the June 30, 2 014 measurement date were the same as those used for the June 30, 2015 and 2016 measurement dates.
Benefit changes. The figures above do not include any liability im pact that m ay have resulted from plan changes which occurred after the June 30 valuation date. This applies for voluntary benefit changes as well as any offers of Two Y ears Additional Service Credit (a.k.a. G olden Handshakes).
106
CITY OF CONCORD JUNE 30, 2022
6/30/2019 6/30/2020 6/30/2021
3,885,056$ 3,795,519$ 3,622,004$ 16,115,663 16,701,703 17,290,324 3,945,856 614,997 1,101,738
- - -
- - -
(12,078,986) (12,670,194) (13,889,259) 11,867,589 8,442,025 8,124,807
225,544,994 237,412,583 245,854,608 237,412,583$ 245,854,608$ 253,979,415$ 7,398,652$ 8,260,289$ 8,772,403$ 1,657,850 1,648,254 1,500,139
9,660,803 7,673,817 36,110,112
(12,078,986) (12,670,194) (13,889,259) - - -
(105,297) (217,223) (158,612)
342 - -
6,533,364 4,694,943 32,334,783
147,552,597 154,085,961 158,780,904 154,085,961$ 158,780,904$ 191,115,687$ 83,326,622$ 87,073,704$ 62,863,728$
64.90% 64.58% 75.25%
21,773,599$ 21,334,818$ 21,553,654$ 382.70% 408.13% 291.66%
107
CITY OF CONCORD JUNE 30, 2022
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS CalPERS Safety Plan – Agent Multiple-Employer Defined Benefit Pension Plan Last 10 Years*
Measurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 Total Pension Liability
Service Cost 4,891,960$ 4,792,943$ 4,928,814$ 5,509,705$ 5,876,593$ Interest 14,566,113 15,446,471 16,367,363 17,045,112 18,416,291 Differences between expected and actual experience - 158,327 659,410 (2,108,933) 8,302,892 Changes in assumptions - - - 14,930,559 (924,463)
Changes in benefits - (4,010,136) - - - Benefit payments, including refunds
of employee contributions (7,354,430) (8,359,469) (9,498,430) (10,436,636) (11,442,104) Net change in total pension liability 12,103,643 8,028,136 12,457,157 24,939,807 20,229,209 Total pension liability - beginning 195,446,083 207,549,726 215,577,862 228,035,019 252,974,826 Total pension liability - ending (a) 207,549,726$ 215,577,862$ 228,035,019$ 252,974,826$ 273,204,035$ Plan fiduciary net position
Contributions - employer 5,732,219$ 5,993,768$ 6,411,727$ 7,481,823$ 8,023,738$ Contributions - employee 1,679,332 1,620,500 1,655,293 1,756,319 1,905,328 Net investm
ent income 21,758,280 3,290,091 766,604 16,371,961 13,638,015 Benefit payments, including refunds
of employee contributions (7,354,430) (8,359,469) (9,498,430) (10,436,636) (11,442,104) Plan to Plan Resource Movement - (73,112) 1,397 - (404) Administrative Expense - (167,255) (90,535) (218,214) (253,615) Other miscellaneous income/(expense) - - - - (481,619) Net change in plan fiduciary net position 21,815,401 2,304,523 (753,944) 14,955,253 11,389,339 Plan fiduciary net position - beginning 124,432,457 146,247,858 148,552,381 147,798,437 162,753,690 Plan fiduciary net position - ending (b) 146,247,858$ 148,552,381$ 147,798,437$ 162,753,690$ 174,143,029$ Net pension liability - ending (a)-(b) 61,301,868$ 67,025,481$ 80,236,582$ 90,221,136$ 99,061,006$ Plan fiduciary net position as a percentage of the
total pension liability 70.46% 68.91% 64.81% 64.34% 63.74% Covered payroll 17,162,893$ 17,550,805$ 17,858,904$ 18,960,776$ 19,289,474$ Net pension liability as percentage of covered payroll 357.18% 381.89% 449.28% 475.83% 513.55% Notes to Schedule:
* Fiscal year 2015 was the 1st year of implementation, therefore only eight years are shown.
Source: CalPERS Accounting Valuation
Benefit changes. The figures above do not include any liability impact that may have resulted from plan changes which occurred after the June 30, 2016 valuation date. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).
Changes in assumptions. In 2017, the accounting discount rate reduced from 7.65 percent to 7.15 percent. In 2016, 2018, 2019, 2020 and 2021, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense.) In 2014, amounts reported were based on the 7.5 percent discount rate. All other assumptions for the June 30, 2014 measurement date were the same as those used for the June 30, 2015 and 2016 measurement dates.
108
CITY OF CONCORD JUNE 30, 2022
6/30/2019 6/30/2020 6/30/2021
5,836,758$ 5,819,371$ 5,612,270$ 19,693,768 20,716,215 21,805,269 5,676,340 2,037,227 3,425,534
- - -
- - -
(12,722,874) (13,795,343) (15,456,752) 18,483,992 14,777,470 15,386,321 273,204,035 291,688,027 306,465,497 291,688,027$ 306,465,497$ 321,851,818$ 9,097,712$ 10,238,493$ 10,898,120$ 1,908,372 1,923,865 2,132,642
11,417,116 9,090,255 43,477,672
(12,722,874) (13,795,343) (15,456,752) - - -
(124,272) (258,999) (190,715)
404 - -
9,576,458 7,198,271 40,860,967
174,143,029 183,719,487 190,917,758 183,719,487$ 190,917,758$ 231,778,725$ 107,968,540$ 115,547,739$ 90,073,093$
62.98% 62.30% 62.30%
19,522,648$ 19,395,698$ 20,035,014$ 553.04% 574.23% 574.23%
109
CITY OF CONCORD JUNE 30, 2022
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS City of Concord Retirement System – Single Employer Defined Benefit Pension Plan Last 10 Years*
M easurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 Total Pension Liab ility
Interest 3,879,000$ 3,769,962$ 3,970,093$ 3,539,085$ 3,426,180$ 3,304,303$ Differences between ex pected and actual ex perience - - - (1,612,351) - 586,695 Changes in assum ptions - 3,337,481 - 1,006,364 - 64,501 Differences between projected and actual earnings
on plan investm ents - 1,483,884 - - - -
Changes in benefits - - - - - -
Benefit paym ents, including refunds
of employee contributions (5,516,000) (5,525,159) (5,499,628) (5,415,808) (5,425,844) (5,489,099) Net change in total p ension liab ility (1,637,000) 3,066,168 (1,529,535) (2,482,710) (1,999,664) (1,533,600) Total p ension liab ility - b eginning 62,399,000 60,762,000 63,828,168 62,298,633 59,815,923 57,816,259 Total p ension liab ility - end ing (a) 60,762,000$ 63,828,168$ 62,298,633$ 59,815,923$ 57,816,259$ 56,282,659$ Plan fiduciary net position
Contributions - employer 1,971,829$ 2,035,017$ 2,041,611$ 2,845,258$ 5,885,064$ 2,822,000$ Contributions - em ployee - - - - - -
Net investment income 3,423,144 775,186 630,598 2,370,458 1,496,946 2,081,149 Benefit paym ents, including refunds
of employee contributions (5,516,398) (5,525,159) (5,499,628) (5,415,808) (5,425,844) (5,489,099) Adminis
trative Expense (193,523) (208,204) (175,715) (160,582) (165,543) (179,003) Net change in plan fiduciary net position (314,948) (2,923,160) (3,003,134) (360,674) 1,790,623 (764,953) Plan fiduciary net position - beginning 37,640,518 37,325,570 34,402,410 31,399,276 31,038,602 32,829,225 Plan fiduciary net position - ending (b) 37,325,570$ 34,402,410$ 31,399,276$ 31,038,602$ 32,829,225$ 32,064,272$ Net pens ion liability - ending (a)-(b) 23,436,430$ 29,425,758$ 30,899,357$ 28,777,321$ 24,987,034$ 24,218,387$ Plan fiduciary net position as a percentage of the
total pension liability 61.43% 53.90% 50.40% 51.89% 56.78% 56.97% Covered payroll (1) (1) (1) (1) (1) (1)
Net pens ion liability as percentage of covered payroll N/A N/A N/A N/A N/A N/A (1) The Plan was closed in 1999 and there are no active participants, therefore there is no covered payroll.
Notes to Schedule:
* Fiscal year 2015 was the 1st year of implementation of GASB 68 and fiscal year 2014 was the first year of implementation of GASB 67, therefore only nine years are shown.
Source: CalPERS Accounting V aluation
Schedule of Investment Returns
6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 Annual money rated rate of return,
net of investment expense 11.37% 2.52% 2.49% 8.86% 5.26% 7.13% 110
CITY OF CONCORD JUNE 30, 2022
6/30/2020 6/30/2021 6/30/2022
3,211,973$ 3,081,001$ 2,761,278$ - (131,677)
- 1,188,841
- -
- -
(5,499,565) (5,290,086) (5,276,196) (2,287,592) (1,151,921) (2,514,918) 56,282,659 53,995,067 52,843,146 53,995,067$ 52,843,146$ 50,328,228$ 2,715,000$ 2,715,000$ 5,087,000$ - -
1,409,436 5,099,067 (3,358,405) (5,499,565) (5,290,086) (5,276,196) (176,807) (143,729) (173,931)
(1,551,936) 2,380,252 (3,721,532) 32,064,272 30,512,336 32,892,588 30,512,336$ 32,892,588$ 29,171,056$ 23,482,731$ 19,950,558$ 21,157,172$
56.51% 62.25% 57.96%
(1) (1) (1)
N/A N/A N/A
6/30/2020 6/30/2021 6/30/2022
4.25% 17.77% (11.56%)
111
CITY OF CONCORD JUNE 30, 2022
SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN THE NET OPEB LIABILITY AND RELATED RATIOS Other Post Employment Benefit Plan - Agent Multiple Employer Last 10 Fiscal Years*
Measurement Date 6/30/17 6/30/18 6/30/19 6/30/20 6/30/21 Total OPEB Liability
Service cost 1,560,983$ 1,607,812 $ 1,469,949 $ 1,514,047 $ 1,290,415 $ Interest 4,213,727 4,282,178 4,338,953 4,404,719 4,034,998 Changes of assumptions - (763,100) - (524,260) 3,013,764 Differences between expected and actual experience - 619,351 - (773,805) - Benefit payments, including refunds
of employee contributions (4,887,795) (4,727,102) (4,807,448) (4,949,938) (5,234,420) Net change in total OPEB liability 886,915 1,019,139 1,001,454 (329,237) 3,104,757 Total OPEB liability - beginning 63,308,501 64,195,416 65,214,555 66,216,009 65,886,772 Total OPEB liability - ending (a) 64,195,416$ 65,214,555 $ 66,216,009 $ 65,886,772 $ 68,991,529 $ Plan fiduciary net position
Plan to plan resource movement -$ -$ -$ -$ -$ Contributions - employer 4,146,795 4,540,452 4,988,337 5,075,158 5,316,392 Contributions - employee - - - - - Net investment income 2,669,004 2,157,582 1,859,144 1,195,733 9,306,204 Differences between projected and actual
earnings on plan investments - - - - - Administrative expenses (13,562) (50,236) (54,242) (55,919) (67,742) Benefit payments, including refunds
of employee contributions (4,887,795) (4,727,102) (4,807,448) (4,949,938) (5,234,420) Net Change in Fiduciary Net Position 1,914,442 1,920,696 1,985,791 1,265,034 9,320,434 Plan fiduciary net position - beginning 24,739,632 26,654,074 28,574,770 30,560,561 31,825,595 Plan fiduciary net position - ending (b) 26,654,074$ 28,574,770 $ 30,560,561 $ 31,825,595 $ 41,146,029 $ Net OPEB liability - ending (a)-(b) 37,541,342$ 36,639,785$ 35,655,448$ 34,061,177$ 27,845,500$ Plan fiduciary net position as a percentage of the
total OPEB liability 41.52% 43.82% 46.15% 48.30% 59.64% Covered-employee payroll 38,731,716$ 40,794,552 $ 41,296,247 $ 40,730,516 $ 41,588,668 $ Net OPEB liability as a percentage of covered-employee pay 96.93% 89.82% 86.34% 83.63% 66.95% Fiscal Year June 30, 2018 June 30, 2019 June 30, 2020 June 30, 2021 June 30, 2022 Notes to schedule
* Fiscal year 2018 was the first year of implementation, therefore, only five years are shown. 112
CITY OF CONCORD JUNE 30, 2022
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
CalPERS Miscellaneous Plan – Agent Multiple-Employer Defined Benefit Pension Plan Last 10 Years*
Fiscal Year Ended June 30 2015 2016 2017 2018 2019 2020 2021 2022 Actuarially determined contribution 4,836,917$ 5,333,899$ 6,081,150$ 6,546,333$ 7,355,334$ 8,266,205$ 8,886,832$ 9,770,934$ Contributions in relation to the actuarially determined contributions 4,836,917 5,333,899 6,087,756 6,546,333 7,355,334 8,266,205 8,886,832 9,770,934 Contribution deficiency (excess) -$ -$ (6,606)$ -$ -$ -$ -$ -$ Covered payroll 17,128,929$ 17,838,673$ 19,770,939$ 21,505,077$ 21,773,599$ 21,334,818$ 21,553,654$ 21,756,850$ Contributions as a percentage of covered payroll 28.24% 29.90% 30.79% 30.44% 33.78% 38.75% 41.23% 44.91% Notes to Schedule
Valuation date: 6/30/2012 6/30/2013 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 Methods and assumptions used to determine contribution rates:
Actuarial cost method
Amortization method
Asset valuation method
Inflation
Salary increases
Investment rate of return
Retirement age
Retirement age and mortality
* - Fiscal year 2015 was the 1st year of implementation, therefore only eight years are shown.
The probabilities of mortality are based on the CalPERS Experience Study. Pre-retirement and Post-retirement
mortality rates include 20 years of projected mortality improvement using Scale BB published by the Society of
Actuaries for 2015 to 2018. For 2019, 2020, 2021 and
2022, pre-retirement and post-retirement mortality rates include 15 years of projected mortality improvement
using 90% of Scale MP-2016 published by the Society of
Actuaries.
Level percentage of payroll, closed
Entry age normal
Actuarial valuation of assets
2.75% for 2015 to 2019, 2.625% for 2020, 2.50% for
2021, and 2.50% for 2022
Varies by entry age and service
7.5% for 2015 to 2018, 7.375% for 2019, 7.25% for
2020, 7.00% for 2021 and 2022 net of pension plan
investment expense, including inflation.
The probabilities of retirement are based on the CalPERS Experience Study
113
CITY OF CONCORD JUNE 30, 2022
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
CalPERS Safety Plan – Agent Multiple-Employer Defined Benefit Pension Plan Last 10 Years*
Fiscal Y ear E nd ed June 30 2015 2016 2017 2018 2019 2020 2021 2022 Actuarially determined contribution 5,993,768$ 6,411,727$ 7,481,823$ 8,023,715$ 8,943,686$ 10,246,008$ 10,836,764$ 11,652,316$ Contributions in relation to the actuarially determ ined contributions 5,993,768 6,411,727 7,481,823 8,023,715 8,943,686 10,246,008 10,836,764 11,652,316 Contribution deficiency (ex cess) -$ -$ -$ -$ -$ -$ -$ -$ Covered payroll 17,550,805$ 17,858,904$ 18,960,776$ 19,289,474$ 19,522,648$ 19,395,698$ 20,035,014$ 19,592,781$ Contributions as a percentage of covered payroll 34.15% 35.90% 39.46% 41.60% 45.81% 52.83% 54.09% 59.47% Notes to Schedule
Valuation date: 6/30/2012 6/30/2013 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 Methods and assum ptions used to determ ine contribution rates:
Actuarial cos t method
Amortization method
Asset valuation m ethod
Inflation
Salary increas es
Investment rate of return
Retirement age
Retirement age and mortality
*- Fiscal year 2015 was the 1st year of implementation, therefore only eight years are shown.
Entry age norm al
Level percentage of payroll, closed
The probabilities of m ortality are based on the
CalPERS Ex perience Study. Pre-retirem ent and Post-
retirement m ortality rates include 20 years of
projected m ortality im provem ent using Scale BB
published by the Society of Actuaries for 2015 to
2018. For 2019, 2020, 2021 and 2022, pre-retirement
and post-retirem ent m ortality rates include 15 years of projected m ortality im provem ent using 90% of Scale
MP-2016 published by the Society of Actuaries.
Actuarial valuation of assets
2.75% for 2015 to 2019, 2.625 for 2020, 2.50% for 2021, and 2.50% for 2022.
V aries by entry age and service
7.5% for 2015 to 2018, 7.375% for 2019, 7.25% for 2020
and 7.00% for 2021 and 2022 net of plan investment
ex pense, including inflation.
The probabilities of retirem ent are based on the
CalPERS Ex perience Study
114
CITY OF CONCORD JUNE 30, 2022
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
City of Concord Retirement System Plan – Single Employer Defined Benefit Pension Plan Last 10 Years*
Fiscal Y ear E nd ed June 30 2014 2015 2016 2017 2018 2019 2020 2021 2022 Actuarially determined contribution 2,045,000$ 2,478,000$ 2,478,000$ 2,715,000$ 2,715,000$ 2,493,000$ 2,491,000$ 2,377,000$ 2,375,000$ Contributions in relation to the actuarially
determined contributions 1,971,829 2,035,017 2,041,611 2,845,258 5,885,064 2,822,000 2,715,000 2,715,000 5,087,000 Contribution deficiency (ex cess) 73,171$ 442,983$ 436,389$ (130,258)$ (3,170,064)$ (329,000)$ (224,000)$ (338,000)$ (2,712,000)$ Covered payroll (1) (1) (1) (1) (1) (1) (1) (1) (1)
Contributions as a percentage of covered payroll N/A N/A N/A N/A N/A N/A N/A N/A N/A (1) Plan was closed in 1999.
Notes to Schedule
Valuation date: 6/30/2012 6/30/2014 6/30/2014 6/30/2016 6/30/2016 6/30/2018 6/30/2018 6/30/2020 6/30/2020 Methods and assum ptions used to determ ine contribution rates:
Actuarial cos t method
Amortization method
Amortization period
Asset valuation m ethod Market value of assets
Inflation
Salary scale Not applicable
Investment rate of return
*- Fiscal year 2014 was the 1st year of implementation, therefore only eight years are shown.
Entry age normal
Level dollar
15-year fixed period for 2021/22
2.75%
6.00%, net of pension plan investm ent ex pense,
115
CITY OF CONCORD JUNE 30, 2022
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
Other Post Employment Benefit Plan - Agent Multiple-Employer Last 10 Years*
Fiscal Year 2018 2019 2020 2021 2022
Actuarially determined contribution 4,266,000$ 4,333,000$ 4,250,000$ 4,340,000$ 3,707,000$ Contributions in relation to the
actuarially determined contribution 4,540,452 4,243,337 4,246,158 4,430,392 3,690,072 Contribution deficiency (excess) (274,452)$ 89,663$ 3,842$ (90,392)$ 16,928$ Covered-employee payroll 40,794,552$ 41,296,247$ 40,730,516$ 41,588,668$ 40,261,538$ Contributions as a percentage of
covered-employee payroll 11.13% 10.28% 10.43% 10.65% 9.17% Notes to Schedule
Valuation Date June 30, 2018 June 30, 2020 June 30, 2020 Methods and assumptions used to
determine contribution rates:
Actuarial cost method Entry Age Normal, Level % of Pay Entry Age Normal, Level % of Pay Entry Age Normal, Level % of Pay Entry Age Normal, Level % of Pa y Entry Age Normal, Level % of Pay Amortization method Level percentage of payroll, closed Level percentage of payroll, closed Level percentage of payroll, closed Level percentage of payroll, closed Level percentage of payroll, closed Asset valuation method
Investment gain and losses spread
over 5-year rolling period
Investment gain and losses spread
over 5-year rolling period
Investment gain and losses spread over
5-year rolling period
Investment gain and losses spread over 5
-
year rolling period
Investment gain and losses spread over 5-
year rolling period
Discount Rate 6.75% 6.75% 6.75% 6.25% 6.25%
Inflation 2.75% 2.75% 2.75% 2.75% 2.75%
Medical Trend
Non-Medicare - 7.25% for 2019,
decreasing to an ultimate rate of
4.00% in 2076 and later years.
Medicare - 6.50% for 2019,
decreasing to an ultimate rate of
4.00% in 2076 and later years
Non-Medicare - 7.25% for 2021,
decreasing to an ultimate rate of
4.00% in 2076 and later years.
Medicare - 6.30% for 2021,
decreasing to an ultimate rate of
4.00% in 2076 and later years
Non-Medicare - 7.25% for 2021,
decreasing to an ultimate rate of 4.00%
in 2076 and later years. Medicare -
6.30% for 2021, decreasing to an
ultimate rate of 4.00% in 2076 and
later years
Non-Medicare - 7.00% for 2022,
decreasing to an ultimate rate of 4.00%
in 2076 and later years. Medicare (Non-
Kaiser) - 6.10% for 2022, decreasing to
an ultimate rate of 4.00% in 2076 and
later years.
Medicare (Kaiser) - 5.00% for 2022,
decreasing to an ultimate rate of 4.00%
Non-Medicare - 7.00% for 2022,
decreasing to an ultimate rate of 4.00%
in 2076 and later years. Medicare (Non-
Kaiser) - 6.10% for 2022, decreasing to
an ultimate rate of 4.00% in 2076 and
later years.
Medicare (Kaiser) - 5.00% for 2022,
decreasing to an ultimate rate of 4.00%
Mortality
CalPERS 1997-2011 Experience
Study
CalPERS 1997-2015 Experience
Study
CalPERS 1997-2015 Experience
Study CalPERS 1997-2015 Experience Study CalPERS 1997-2015 Experience Study Mortality Improvement
Mortality projected fully generational
with Society of Actuaries Scale MP-
2016
Post retirement mortality projected
fully generational with Scale MP-2018
Post retirement mortality projected
fully generational with Scale MP-2018
Post retirement mortality projected fully
generational with Scale MP-2020
Post retirement mortality projected fully
generational with Scale MP-2020
Notes to Schedule
* Fiscal year 2018 was the first year of implementation, therefore, only five years are shown.
June 30, 2016 June 30, 2018
116
CITY OF CONCORD JUNE 30, 2022
SUPPLEMENTARY INFORMATION
This Page Left Intentionally Blank
CITY OF CONCORD
GENERAL FUND
COMBINING SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022
Total
Other Intrafund General
General Pavilion Measure V General Funds Eliminations Fun d
REVENUES
Taxes:
Property 21,073,745 $ - $ -$ -$ -$ 21,073,745$ Sales Tax:
Sales Tax 41,082,948 - - - - 41,082,948
Sales Tax - Transaction Use Tax - 32,808,034 - - 32,808,034 Transient Occupancy 2,197,673 - - - - 2,197,673
Franchise Fees 8,476,416 - - - - 8,476,416
Business License 4,016,929 - - - - 4,016,929
Motor Vehicle In Lieu, Unrestricted 13,236,505 - - - - 13,236,505 Licenses and Permits 2,240,252 - - - - 2,240,252
Intergovernmental 1,241,930 - - 319,200 - 1,561,130 Charges for Services 7,331,378 - - 278,330 - 7,609,708 Fines, Forfeitures and Penalties 394,006 - - - - 394,006 Parks and Recreation 2,565,628 - - - - 2,565,628
Use of Money and Property (3,123,891) 724,455 73,457 8,289 - (2,317,690) Special Assessment Collections 7,795 - - - - 7,795
Other 633,879 29,688 - - - 663,567
Total Revenues 101,375,193 754,143 32,881,491 605,819 - 135,616,646
EXPENDITURES
Current: -
General Government 19,000,248 - - - - 19,000,248
Public Safety 63,972,188 - 427,267 23,589 - 64,423,044
Public Works 7,117,378 - 20,780 - - 7,138,158
Economic Development and Base Reuse 582,027 - - - - 582,027 Community Development 8,970,657 - - 4,569 - 8,975,226
Parks & Recreation Services 4,658,220 207,925 - - - 4,866,145 Debt Service:
Principal 29,286 - - - - 29,286
Interest and Fiscal Charges 383,364 30,763 - - - 414,127 Total Expenditures 104,713,368 238,688 448,047 28,158 - 105,428,261
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (3,338,175) 515,455 32,433,444 577,661 - 30,188,385
OTHER FINANCING SOURCES (USES)
Transfers in 10,979,235 900,000 90,344 - (11,672,000) 297,579 Transfers (Out) (6,947,348) - (31,967,977) - 11,672,000 (27,243,325) Total Other Financing Sources (Uses) 4,031,887 900,000 (31,877,633) - - (26,945,746) NET CHANGES IN FUND BALANCES 693,712 1,415,455 555,811 577,661 - 3,242,639
FUND BALANCES
AT BEGINNING OF YEAR 40,378,495 (4,176,336) 4,887,168 17,526,795 - 58,616,122
FUND BALANCES
AT END OF YEAR 41,072,207$ (2,760,881)$ 5,442,979$ 18,104,456$ -$ 61,858,761$ 119
CITY OF CONCORD
GENERAL FUND
COMBINING SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Final Actual Amounts (Negative)
REVENUES:
Taxes:
Property 20,341,900 $ 20,341,900 $ 21,073,745 $ 731,845 $ Sales Tax:
Sales Tax 36,200,000 40,800,000 41,082,948 282,948 Sales Tax - Transaction Use Tax - - - -
Transient Occupancy 1,700,000 1,700,000 2,197,673 497,673 Franchises 7,982,000 7,982,000 8,476,416 494,416 Business License 3,401,700 3,401,700 4,016,929 615,229 Motor Vehicle In Lieu, Unrestricted 12,947,000 12,947,000 13,236,505 289,505 Licenses and Permits 1,856,620 1,856,620 2,240,252 383,632 Intergovernmental 786,000 786,000 1,241,930 455,930 Charges for Services 5,897,545 5,811,545 7,331,378 1,519,833 Fines, Forfeitures and Penalties 307,500 307,500 394,006 86,506 Parks and Recreation 2,007,264 2,007,264 2,565,628 558,364 Use of Money and Property 503,985 503,985 (3,123,891) (3,627,876) Special Assessment Collections - - 7,795 7,795
Other 866,849 341,849 633,879 292,030
Total Revenues 94,798,363 98,787,363 101,375,193 2,587,830 EXPENDITURES:
Current:
General Government:
Council 562,313 576,516 518,120 (58,396)
Manager 3,217,843 3,295,968 3,049,754 (246,214) Attorney 1,744,084 1,816,061 1,665,414 (150,647) Human Resources 2,594,989 2,687,168 2,523,693 (163,475) Finance 10,097,119 12,902,854 11,243,267 (1,659,587) Public Safety 61,106,271 61,731,971 63,972,188 2,240,217 Public Works 10,779,095 7,949,832 7,117,378 (832,454) Economic Development and Base Reuse 807,668 924,401 582,027 (342,374) Community Development 9,616,630 9,490,772 8,970,657 (520,115) Parks & Recreation Services 6,170,828 4,872,653 4,658,220 (214,433) Capital Outlay - - - -
Debt Service:
Principal - - 29,286 29,286
Interest and Fiscal Charges 304,601 304,601 383,364 78,763 Total Expenditures 107,001,441 106,552,797 104,713,368 (1,839,429)
EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (12,203,078) (7,765,434) (3,338,175) 4,427,259
OTHER FINANCING SOURCES (USES)
Transfers In 304,333 318,710 10,979,235 10,660,525 Transfers (out) 9,817,167 4,589,167 (6,947,348) (11,536,515) Total Other Financing Sources (Uses) 10,121,500 4,907,877 4,031,887 (875,990) NET CHANGE IN FUND BALANCE (2,081,578)$ (2,857,557)$ 693,712 3,551,269$ FUND BALANCE AT BEGINNING OF YEAR 40,378,495
FUND BALANCE AT END OF YEAR 41,072,207$
Budgeted Amounts
General
120
Variance with Variance with
Final Budget Final Budget
Positive Positive
Original Final Actual Amounts (Negative) Original Final Actual Amounts (Negative) -$ -$ -$ -$ -$ -$ -$ -$
- - - - - - - -
- - - - 27,000,000 29,600,000 32,808,034 3,208,034 - - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - -
- - - -
924,473 924,473 724,455 (200,018) - - 73,457 73,457 - - - - - - - -
72,800 72,800 29,688 (43,112) - - - - 997,273 997,273 754,143 (243,130) 27,000,000 29,600,000 32,881,491 3,281,491 - - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - 555,519 427,267 (128,252)
- - - - 228,000 250,000 20,780 (229,220) - - - - - - - -
- - - - - - - -
168,934 168,934 207,925 38,991 - - - - - 1,199,714 - (1,199,714) - - - -
-
- - - - - - - -
- - 30,763 30,763 - - - -
168,934 1,368,648 238,688 (1,129,960) 228,000 805,519 448,047 (357,472) 828,339 (371,375) 515,455 886,830 26,772,000 28,794,481 32,433,444 3,638,963 - - 900,000 900,000 - 90,344 90,344 - (360,362) (900,862) - 900,862 (25,772,000) (31,972,000) (31,967,977) 4,023 (360,362) (900,862) 900,000 1,800,862 (25,772,000) (31,881,656) (31,877,633) 4,023 467,977$
(1,272,237)$ 1,415,455 2,687,692$ 1,000,000$ (3,087,175)$ 555,811 3,642,986$ (4,176,336) 4,887,168
(2,760,881)$ 5,442,979$
(Continued)
Pavilion
Budgeted Amounts
Measure V
Budgeted Amounts
121
CITY OF CONCORD
GENERAL FUND
COMBINING SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Final Actual Amounts (Negative)
REVENUES:
Taxes:
Property - $ -$ -$ -$
Sales Tax:
Sales Tax - - - -
Sales Tax - Transaction Use Tax - - - -
Transient Occupancy - - - -
Franchises - - - -
Business License - - - -
Motor Vehicle In Lieu, Unrestricted - - - -
Licenses and Permits - - - -
Intergovernmental 186,000 186,000 319,200 133,200
Charges for Services 49,907 49,907 278,330 228,423
Fines, Forfeitures and Penalties - - - -
Parks and Recreation - - - -
Use of Money and Property - - 8,289 8,289
Special Assessment Collections - - - -
Other - - - -
Total Revenues 235,907 235,907 605,819 369,912
EXPENDITURES:
Current:
General Government:
Council - - - -
Manager - - - -
Attorney - - - -
Human Resources - - - -
Finance - - - -
Public Safety 115,986 115,986 23,589 (92,397)
Public Works - - - -
Economic Development and Base Reuse - - - -
Community Development 35,000 35,000 4,569 (30,431)
Parks & Recreation Services - - - -
Capital Outlay - - - -
Debt Service:
Principal - - - -
Interest and Fiscal Charges - - - -
Total Expenditures 150,986 150,986 28,158 (122,828)
EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES 84,921 84,921 577,661 492,740
OTHER FINANCING SOURCES (USES)
Transfers In - - - -
Transfers (out) - - - -
Total Other Financing Sources (Uses) - - - -
NET CHANGE IN FUND BALANCE 84,921$ 84,921$ 577,661 492,740$ FUND BALANCE AT BEGINNING OF YEAR 17,526,795
FUND BALANCE AT END OF YEAR 18,104,456$
Other General Funds
Budgeted Amounts
122
Variance with Variance with
Final Budget Final Budget
Positive Positive
Original Final Actual Amounts (Negative) Original Final Actual Amounts (Negative) -$ -$ -$ -$ 20,341,900 $ 20,341,900$ 21,073,745$ 731,845$ - - - - 36,200,000 40,800,000 41,082,948 282,948 - - - - 27,000,000 29,600,000 32,808,034 3,208,034 - - - - 1,700,000 1,700,000 2,197,673 497,673 - - - - 7,982,000 7,982,000 8,476,416 494,416 - - - - 3,401,700 3,401,700 4,016,929 615,229 - - - - 12,947,000 12,947,000 13,236,505 289,505 - - - - 1,856,620 1,856,620 2,240,252 383,632 - - - - 972,000 972,000 1,561,130 589,130 - - - - 5,947,452 5,861,452 7,609,708 1,748,256 - - - - 307,500 307,500 394,006 86,506 - - - -
2,007,264 2,007,264 2,565,628 558,364 - - - - 1,428,458 1,428,458 (2,317,690) (3,746,148) - - - - - - 7,795 7,795
- - - - 939,649 414,649 663,567 248,918 - - - - 123,031,543 129,620,543 135,616,646 5,996,103 - - - - 562,313 576,516 518,120 (58,396) - - - - 3,217,843 3,295,968 3,049,754 (246,214) - - - - 1,744,084 1,816,061 1,665,414 (150,647) - - - - 2,594,989 2,687,168 2,523,693 (163,475) - - - - 10,097,119 12,902,854 11,243,267 (1,659,587) - - - - 61,222,257 62,403,476 64,423,044 2,019,568 - - - - 11,007,095 8,199,832 7,138,158 (1,061,674) - - - - 807,668 924,401 582,027 (342,374) - - - - 9,651,630 9,525,772 8,975,226 (550,546) - - - - 6,339,762 5,041,587 4,866,145 (175,442) - - - - - 1,199,714 - (1,199,714)
- - - - - - 29,286 29,286
- - - - 304,601 304,601 414,127 109,526 - - - - 107,549,361 108,877,950 105,428,261 (3,449,689) - - - - 15,482,182 20,742,593 30,188,385 9,445,792 (10,772,000) (11,672,000) (11,672,000) - (10,467,667) (11,262,946) 297,579 11,560,525 10,772,000 11,672,000 11,672,000 - (5,543,195) (16,611,695) (27,243,325) (10,631,630) - - - - (16,010,862) (27,874,641) (26,945,746) 928,895 -$ -$ -
-$ (528,680)$ (7,132,048)$ 3,242,639 10,374,687$ - 58,616,122
-$ 61,858,761$
Total General Fund
Budgeted Amounts
Intrafund Eliminations
Budgeted Amounts
123
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CITY OF CONCORD JUNE 30, 2022
NON-MAJOR GOVERNMENTAL FUNDS
State Gas Tax Fund. To account for restricted revenue appor tioned to the City from State-collected gasoline taxes and expended for construction and maintenance of City streets.
Maintenance Districts Fund. To account for revenue from property tax and annual assessments against property owners and expended for their share of the City's cost for maintenance in the areas of the service provided.
Art in Public Places Fund. To account for fees applied to new construction and expended for the purchase and installation of art objects in the City.
Traffic System Management Fund. To account for monies from in-lieu parking fees, to be expended for traffic management facilities.
Housing Assistance Program Fund. To account for monies from the former Redevelopment Agency and developers' contributions to be expended for low-income housing loans.
Housing and Community Services Fund. – To account for monies received from the Department of Housing and Urban Development and expended for development of jobs and suitable housing for low- income residents.
Storm Water Management Fund. To account for activities necessary to comply with the Federal Clean Water Act.
Health Care District Fund. To account for funds needed for hea lth programs. The program is funded through property taxes.
Asset Forfeiture Fund. To account for revenues received from ad judicated sales of assets seized during drug related arrests and to disburse for authorized public safety activities.
Vehicle Abatement Fund. To account for monies received by the California Department of Motor Vehicles to be expended on abatement, remova l or the disposal of vehicle relate d public nuisances from private or public property.
Public Education and Government Fund. To account for monies received by cable operators to support public education and government (PEG) channel facilities and activities.
General Plan Reimbursement Fee Fund. To account for the accumulation of revenue levied on building permits for payment of expenditures related to th e City’s General Plan Update and Housing Element Update.
Technology Fee Fund. To account for revenues received from a surcharge of administrative processing, plan review, and inspection fees applying to Buil ding, Engineering and Plan ning Divisions, for the purchase, maintenance, and replacement of Development Review services software and hardware.
Tree Special Revenue Fund. To account for the revenues received from fines or fees associated with tree removal. The fines or fees will be used for costs as
sociated with planting, replacing, and maintaining trees. 125
CITY OF CONCORD JUNE 30, 2022
NON-MAJOR GOVERNMENTAL FUNDS (CONTINUED)
ABAG Fund. To account for transfers of revenue from th e General Fund for payment of interest and principal on Association of Bay Area Governments (ABAG) certificates of participation.
Performing Arts Revenue Bonds Fund. To account for the accumulation of revenue provided by Bill Graham Presents for payment of interest and principal on the Pavilion lease revenue bonds issued in 1995.
Assessment Districts Fund. To account for accumulation of specia l assessment taxes for payment of special assessment bond interest and principal.
Energy Lease Fund. To account for a lease agreement issued to finance several energy conservation projects throughout the City.
Infrastructure Lease Agreement Fund. To account for lease agreement in connection with the financing of street and other infrastructure improvements.
Special Developers Fund. To account for capital projects within the City funded by various fees collected
from developers.
Inter-Governmental Capital Projects Fund. To account for approved capital projects funded from other governmental agencies.
Measure V Projects Capital Projects Fund. To account for capital projects that are to be funded with funds received from the Measure V one-cent sales tax.
126
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Art in Traffic Housing
State Maintenance Public System Assistance
Gas Tax Districts Places Management Program
ASSETS:
Cash and Investments 6,730,574$ 5,741,629$ 120,145$ 75,898$ 564,739$ Cash with Fiscal Agents - - - - -
Receivables, Net
Accounts Receivable - - - - -
Interest - - - - 25,283
Due from Other Governments 461,054 - - - -
Loans and Notes - - - - 185,445
Total Assets 7,191,628$ 5,741,629$ 120,145$ 75,898$ 775,467$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES:
Liabilities:
Accounts, Deposits and Contracts Payable 127,860$ 5,045$ -$ 13,764 $ -$ Accrued Liabilities 14,862 5,944 - - - Unearned Revenue - - - - -
Total Liabilities 142,722 10,989 - 13,764 - Deferred Inflows of Resources:
Unavailable Revenue - - - - 25,283
Fund balance:
Restricted 7,048,906 5,730,640 120,145 62,134 750,184 Assigned - - - - -
Unassigned - - - - -
Total Fund Balances (Deficit) 7,048,906 5,730,640 120,145 62,134 750,184 Total Liabilities, Deferred Inflows
and Fund Balances 7,191,628$ 5,741,629$ 120,145$ 75,898$ 775,467$
SPECIAL REVENUE FUNDS
CITY OF CONCORD
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2022
128
SPECIAL REVENUE FUNDS
General
Housing and Storm Health Public Plan
Community Wate r Care Asset Vehicle Education and Reimbursement Technology Services Management District Forfeiture Abatement Government Fee Fee 3,524,163$ 6,655,996 $ 491,859 $ 381,125 $ 226,227 $ 1,564,059 $ 2,990,613$ 2,312,113$ - - - - - - - -
- - - - - 83,584 - -
117,569 - - - - - - -
230,161 492,132 - - - - - -
1,445,763 - - - - - - -
5,317,656$ 7,148,128$ 491,859$ 381,125$ 226,227$ 1,647,643$ 2,990,613$ 2,312,113$ 663,269$ -$ -$ -$ -$ -$ -$ -$
505,995 7,923 244 - 1,083 - - - 70,000 - - - - - - -
1,239,264 7,923 244 - 1,083 - - - 1,423,332 - - - - - - -
2,655,060 7,140,205 491,615 381,125 225,144 1,647,643 2,990,613 2,312,113 - - - - - - - -
- - - - - - - -
2,655,060 7,140,205 491,615 381,125 225,144 1,647,643 2,990,613 2,312,113 5,317,656$ 7,148,128$ 491,859$ 381,125$ 226,227$ 1,647,643$ 2,990,613$ 2,312,113$ (Continued)
129
CITY OF CONCORD
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2022
SPECIAL
REVENUE
FUND DEBT SERVICE FUNDS
Performing Infrastructure
Tree Arts Assessmen t Energy Lease
Fund Revenue Bonds Districts Lease Agreement
ASSETS:
Cash and Investments 48,118$ -$ 7,434$ 1$ 7,844$ Cash with Fiscal Agents - - - - 5,321
Receivables, Net
Accounts Receivable - - - - -
Interest - - - - -
Due from Other Governments - - - - -
Loans and Notes - - - - -
Total Assets 48,118$ -$ 7,434$ 1$ 13,165$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES:
Liabilities:
Accounts, Deposits and Contracts Payable -$ -$ 8,479$ -$ -$ Accrued Liabilities - - - - -
Unearned Revenue - - - - -
Total Liabilities - - 8,479 - -
Deferred Inflows of Resources:
Unavailable Revenue - - - - -
Fund balance:
Restricted 48,118 - - 1 13,165
Assigned - - - - -
Unassigned - - (1,045) - -
Total Fund Balances (Deficit) 48,118 - (1,045) 1 13,165 Total Liabilities, Deferred Inflows
and Fund Balances 48,118$ -$ 7,434$ 1$ 13,165$ 130
CAPITAL PROJECTS FUNDS
Total
Nonmajor
Special Inter- Measure V Governmental
Developers Governmental Projects Funds
9,253,365$ 11,918,189$
$12,767,472 $65,381,563
- - - 5,321
- - - 83,584
- - - 142,852
- 305,712 - 1,489,059
- - - 1,631,208
9,253,365$ 12,223,901$ 12,767,472$ 68,733,587$ -$ -$ -$ 818,417$
209 - - 536,260
- - - 70,000
209 - - 1,424,677
- 305,712 - 1,754,327
- 11,918,189 - 43,535,000
9,253,156 - 12,767,472 22,020,628
- - - (1,045)
9,253,156 11,918,189 12,767,472 65,554,583 9,253,365$ 12,223,901$ 12,767,472$ 68,733,587$ 131
Art in Traffic Housin g
State Maintenance Public System Assistance
Gas Tax Districts Places Mana gement Pro grams
REVENUES:
Taxes - $ 1,649,246$ -$ -$ -$
Licenses and Permits - - - - -
Franchises - - - - -
Intergovernmental 5,622,206 - - - -
Charges for Services - - - - -
Fines, Forfeitures and Penalties - - - - -
Use of Money and Property 68,405 46,991 1,179 - 4,615 Other - - - - -
Total Revenues 5,690,611 1,696,237 1,179 - 4,615 EXPENDITURES:
Current:
General Government - - - - -
Public Safety - - - - -
Public Works 2,789,442 1,514,040 - - - Community and Economic Development - - - - -
Parks and Recreation Services - - 34,344 - - Capital Outlay 3,295,945 53,982 - - - Debt service:
Principal Repayment - - - - -
Interest and Fiscal Charges - - - - -
Total Expenditures 6,085,387 1,568,022 34,344 - -
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (394,776) 128,215 (33,165) - 4,615 OTHER FINANCING SOURCES (USES):
Transfers In 24,600 - - - -
Transfers (Out) - (345,978) - - -
Total Other Financing Sources (Uses) 24,600 (345,978) - - - Net Changes in Fund Balances (370,176) (217,763) (33,165) - 4,615 Fund Balances (Deficit) at the Beginning of Period 7,419,082 5,948,403 153,310 62,134 745,569 FUND BALANCES (DEFICIT) AT END OF PERIOD 7,048,906$ 5,730,640 $ 120,145 $ 62,134 $ 750,184 $
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022
SPECIAL REVENUE FUNDS
CITY OF CONCORD
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
132
SPECIAL REVENUE FUNDS
General
Housing Storm Health Public Plan
and Community Water Care Asset Vehicle Education and Reimbursement Technolo gy Services Mana gement District Forfeiture Abatement Government Fee Fee -$ 2,111,526$ 404,901$ -$ -$ -$ -$ -$ - - - - - - - -
- - - - - 334,984 - -
1,586,224 - - 7,613 25,499 - - - - 121,695 - - - - 440,500 607,723 - - - 29,593 - - - -
38,640 51,339 2,760 2,914 2,184 13,073 23,056 16,651 130,401 140 25,000 - - - - - 1,755,265 2,284,700 432,661 40,120 27,683 348,057 463,556 624,374 - - - - - 182,201 - -
- - - 4,879 83,529 - - -
- 691,978 - - - - 86,230 - 801,905
1,283,110 208,154 - - - 3,430 45,833 - - - - - - - -
300,004 48,788 - - - 107,580 - - - - - - - - - -
- - - - - - - -
1,101,909 2,023,876 208,154 4,879 83,529 289,781 89,660 45,833 653,356 260,824 224,507 35,241 (55,846) 58,276 373,896 578,541 - 524,001 - - - - - -
- (168,848) - - - - (19,000) -
- 355,153 - - - - (19,000) - 653,356 615,977 224,507 35,241 (55,846) 58,276 354,896 578,541 2,001,704 6,524,228 267,108
345,884 280,990 1,589,367 2,635,717 1,733,572 2,655,060$ 7,140,205$ 491,615$ 381,125$ 225,144$ 1,647,643$ 2,990,613$ 2,312,113$ (Continued)
133
CITY OF CONCORD
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022
SPECIAL
REVENUE
FUND DEBT SERVICE FUNDS
Performing Infrastructure
Tree Arts Assessment Ener gy Lease
Fund Revenue Bonds Districts Lease A greement
REVENUES:
Taxes - $ -$ -$ -$ -$
Licenses and Permits - - - - -
Franchises - - - - -
Intergovernmental - - - - -
Charges for Services - - - - -
Charges for Services - - - - -
Use of Money and Property 393 - 36 - (4,145)
Other - - - - -
Total Revenues 393 - 36 - (4,145)
EXPENDITURES:
Current:
General Government - - - - -
Public Safety - - - - -
Public Works - - - - -
Community and Economic Development - - - - -
Parks and Recreation Services - - - - -
Capital Outlay - - - - -
Debt service:
Principal Repayment - - - 720,000 4,205,000 Interest and Fiscal Charges - - - 123,849 3,293,492 Total Expenditures - - - 843,849 7,498,492
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 393 - 36 (843,849) (7,502,637) OTHER FINANCING SOURCES (USES):
Transfers (In) - - - 843,849 7,495,977
Transfers (Out) - - - - -
Total Other Financing Sources (Uses) - - - 843,849 7,495,977 Net Changes in Fund Balances 393 - 36 - (6,660)
Fund Balances (Deficit) at the Beginning of Period 47,725 - (1,081) 1 19,825 FUND BALANCES (DEFICIT) AT END OF PERIOD 48,118$ - $ (1,045)$ 1$ 13,165$ 134
CAPITAL PROJECTS FUNDS
Total
Nonmajor
Special Inter- Measure V Governmental
Developers Governmental Pro jects Funds
-$ -$ -$ 4,165,673$
1,965,862 - - 1,965,862
- - - 334,984
- 3,431,288 - 10,672,830
- - - 1,169,918
- - - 29,593
34,038 79,777 - 381,906
55,000 - - 210,541
2,054,900 3,511,065 - 18,931,307
- - - 182,201
- - - 88,408
- 121,591 25,100 5,228,381
185,161 2,543 - 2,530,136
- - - 34,344
172,038 871,129 307,428 5,156,894 - - - 4,925,000
- - - 3,417,341
357,199 995,263 332,528 21,562,705 1,697,701 2,515,802 (332,528) (2,631,398) - 282 13,100,000 21,988,709
(596) - - (534,422)
(596) 282
13,100,000 21,454,287
1,697,105 2,516,084 12,767,472 18,822,889 7,556,051 9,402,105 46,731,694
9,253,156$ 11,918,189$ 12,767,472$ 65,554,583$ 135
CITY OF CONCORD
BUDGETED NON-MAJOR FUNDS
COMBINING SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
STATE GAS TAX MAINTENANCE DISTRICTS
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:
Taxes - $ - $ - $ 1,590,703$ 1,649,246 $ 58,543 $
Licenses and Permits - - - - - -
Franchises - - - - - -
Intergovernmental 5,780,999 5,622,206 (158,793) - - - Charges for Services - - - - - -
Fines, Forfeitures and Penalties - - - - - -
Use of Money and Property 48,705 68,405 19,700 44,723 46,991 2,268 Other - - - - - -
Total Revenues 5,829,704 5,690,611 (139,093) 1,635,426 1,696,237 60,811 EXPENDITURES:
Current:
General Government - - - - - -
Public Safety - - - - - -
Public Works 6,307,901 2,789,442 3,518,459 1,616,934 1,514,040 102,894 Community and Economic Development - - - - - -
Parks and Recreation Services - - - - - -
Capital Outlay 4,281,455 3,295,945 985,510 156,494 53,982 102,512 Debt Service:
Principal Repayment - - - - - -
Interest and Fiscal Charges - - - - - -
Total Expenditures 10,589,356 6,085,387 4,503,969 1,773,428 1,568,022 205,406
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (4,759,652) (394,776) 4,364,876 (138,002) 128,215 266,217 OTHER FINANCING SOURCES (USES):
Transfers In - 24,600 24,600 - - -
Transfers (Out) - - - (345,978) (345,978) -
Total Other Financing Sources (Uses) - 24,600 24,600 (345,978) (345,978) - Net Changes in Fund Balances (4,759,652)$ (370,176) 4,389,476 $ (483,980) $ (217,763) 266,217 $ Fund Balances (Deficit) at Beginning of Year $7,419,082 5,948,403 Fund Balances (Deficit) at End of Year 7,048,906$ 5,730,640$ 136
ART IN PUBLIC PLACES TRAFFIC SYSTEM MANAGEMENT HOUSING ASSISTANCE PROGRAM Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) - $ - $ - $ - $ - $ - $ - $ - $ - $
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
1,787 1,179 (608) - - - 4,750 4,615 (135) 10,000 - (10,000) - - - - - -
11,787 1,179 (10,608) - - - 4,750 4,615 (135) - - - - - - - - -
- - - - - - - - -
10,000 - 10,000 - - - - - -
- - - - - - - - -
41,000 34,344 6,656 - - - - - -
36,443 - 36,443 - - - - - -
- - - - - - - - -
- - - - - - - - -
87,443 34,344 53,099 - - - - - - (75,656) (33,165) 42,491 - - - 4,750 4,615 (135) - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(75,656)$ (33,165) 42,491 $ - $ - - $ 4,750 $ 4,615 (135)$ 153,310 62,134 745,569
120,145 $ 62,134 $ 750,184 $
(Continued)
137
CITY OF CONCORD
BUDGETED NON-MAJOR FUNDS
COMBINING SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
HOUSING AND COMMUNITY SERVICES STORM WATER MANAGEMENT
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:
Taxes - $ - $ - $ 2,000,000 $ 2,111,526 $ 111,526 $ Licenses and Permits 20,000 - (20,000) - - - Franchises - - - - - -
Intergovernmental 1,050,000 1,586,224 536,224 - - - Charges for Services - - - 40,000 121,695 81,695 Fines, Forfeitures and Penalties - - - - - -
Use of Money and Property 19,916 38,640 18,724 30,806 51,339 20,533 Other - 130,401 130,401 - 140 140
Total Revenues 1,089,916 1,755,265 665,349 2,070,806 2,284,700 213,894 EXPENDITURES:
Current:
General Government - - - - - -
Public Safety - - - - - -
Public Works - - - 1,065,118 691,978 373,140 Community and Economic Development 1,051,386 801,905 249,481 1,605,033 1,283,110 321,923 Parks and Recreation Services - - - - - -
Capital Outlay 1,444,879 300,004 1,144,875 1,068,446 48,788 1,019,658 Debt Service:
Principal Repayment - - - - - -
Interest and Fiscal Charges - - - - - -
Total Expenditures 2,496,265 1,101,909 1,394,356 3,738,597 2,023,876 1,714,721 .
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (1,406,349) 653,356 2,059,705 (1,667,791) 260,824 1,928,615 OTHER FINANCING SOURCES (USES):
Transfers In - - - 524,001 524,001 -
Transfers (Out) - - - (168,848) (168,848) - Total Other Financing Sources (Uses) - - - 355,153 355,153 - Net Changes in Fund Balances (1,406,349)$ 653,356 2,059,705 $ (1,312,638)$ 615,977 1,928,615 $ Fund Balances (Deficit) at Beginning of Year 2,001,704 6,524,228 Fund Balances (Deficit) at End of Year 2,655,060 $ 7,140,205 $ 138
HEALTH CARE DISTRICT ASSET FORFEITURE VEHICLE ABATEMENT Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) 200,000 $ 404,901 $ 204,901 $ - $ - $ - $ - $ - $ - $ - - - - - - - - -
- - - - - - - - -
- - - - 7,613 7,613 100,000 25,499 (74,501) - - - - - - - - -
- - - - 29,593 29,593 - - -
1,770 2,760 990 757 2,914 2,157 - 2,184 2,184 25,000 25,000 - - - - - - -
226,770 432,661 205,891 757 40,120 39,363 100,000 27,683 (72,317) - - - - - - - - -
- - - 105,097 4,879 100,218 124,742 83,529 41,213 - - - - - - - - -
247,236 208,154 39,082 - - - - - - - - - - - - - - -
13,000 - 13,000 66,593 - 66,593 - - - - - - - - - - - -
- - - - - - - - -
260,236 208,154 52,082 171,690 4,879 166,811 124,742 83,529 41,213 (33,466) 224,507 257,973 (170,933) 35,241 206,174 (24,742) (55,846) (31,104) - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(33,466)$ 224,507 257,973 $ (170,933)$ 35,241 206,174 $ (24,742)$ (55,846) (31,104)$ 267,108 345,884 280,990
491,615 $ 381,125 $ 225,144 $
(Continued)
139
CITY OF CONCORD
BUDGETED NON-MAJOR FUNDS
COMBINING SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
PUBLIC EDUCATION AND GOVERNMENT GENERAL PLAN REIMBURSEMENT FEE Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:
Taxes - $ - $ - $ - $ -$ -$
Licenses and Permits - - - - - -
Franchises 400,000 334,984 (65,016) - - - Intergovernmental - - - - - -
Charges for Services - - - 262,500 440,500 178,000 Fines, Forfeitures and Penalties - - - - - -
Use of Money and Property 5,291 13,073 7,782 9,306 23,056 13,750 Other - - - - - -
Total Revenues 405,291 348,057 (57,234) 271,806 463,556 191,750 EXPENDITURES:
Current:
General Government 171,000 182,201 (11,201) - - - Public Safety - - - - - -
Public Works - - - - 86,230 (86,230)
Community and Economic Development - - - - 3,430 (3,430) Parks and Recreation Services - - - - - -
Capital Outlay 1,052,281 107,580 944,701 2,342,244 - 2,342,244 Debt Service:
Principal Repayment - - - - - -
Interest and Fiscal Charges - - - - - -
Total Expenditures 1,223,281 289,781 933,500 2,342,244 89,660 2,252,584
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (817,990) 58,276 876,266 (2,070,438) 373,896 2,444,334 OTHER FINANCING SOURCES (USES):
Transfers In - - - - - -
Transfers (Out) - - - - (19,000) (19,000)
Total Other Financing Sources (Uses) - - - - (19,000) (19,000) Net Changes in Fund Balances (817,990) $ 58,276 876,266 $ (2,070,438)$ 354,896 2,425,334$ Fund Balances (Deficit) at Beginning of Year 1,589,367 2,635,717 Fund Balances (Deficit) at End of Year 1,647,643$ 2,990,613 $ 140
TECHNOLOGY FEE TREE FUND PERFORMING ARTS REVENUE BONDS
Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) - $ - $ - $ - $ - $ - $ - $ - $ - $
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
439,688 607,723 168,035 - - - - - - - - - - - - - - -
5,743 16,651 10,908 - 393 393 297 - (297) - - - - - - - - -
445,431 624,374 178,943 - 393 393 297 - (297) - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
415,000 45,833 369,167 - - -
- - -
- - - - - - - - -
315,100 - 315,100 - - - - - -
- - - - - - - - -
- - - - - - - - -
730,100 45,833 684,267 - - - - - - (284,669) 578,541 863,210 - 393 393 297 - (297) - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(284,669)$ 578,541 863,210 $ - $ 393
393 $ 297 $ - (297)$
1,733,572 $47,725 -
2,312,113 $ 48,118 $ - $
(Continued)
141
CITY OF CONCORD
BUDGETED NON-MAJOR FUNDS
COMBINING SCHEDULE OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
ASSESSMENT DISTRICTS ENERGY LEASE
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:
Taxes - $ - $ - $ - $ - $ - $
Licenses and Permits - - - - - -
Franchises - - - - - -
Intergovernmental - - - - - -
Charges for Services - - - - - -
Fines, Forfeitures and Penalties - - - - - -
Use of Money and Property 79 36 (43) - - -
Other - - - - - -
Total Revenues 79 36 (43) - - -
EXPENDITURES:
Current:
General Government - - - - - -
Public Safety - - - - - -
Public Works - - - - - -
Community and Economic Development - - - - - -
Parks and Recreation Services - - - - - -
Capital Outlay - - - - - -
Debt Service:
Principal Repayment - - - 720,000 720,000 - Interest and Fiscal Charges - - - 123,849 123,849 - Total Expenditures - - - 843,849 843,849 -
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 79 36 (43) (843,849) (843,849) - OTHER FINANCING SOURCES (USES):
Transfers In - - - 843,849 843,849 -
Transfers (Out) - - - - - -
Total Other Financing Sources (Uses) - - - 843,849 843,849 - Net Changes in Fund Balances 79 $ 36 (43)$ - $ - - $ Fund Balances (Deficit) at Beginning of Year (1,081) 1 Fund Balances (Deficit) at End of Year (1,045)$ 1 $ 142
INFRASTRUCTURE LEASE AGREEMENT
Variance
Positive
Budget Actual (Negative)
-$ -$ -$
- - -
- - -
- - -
- - -
- - -
- (4,145) (4,145)
- - -
- (4,145) (4,145)
- - -
- - -
- - -
- - -
- - -
- - -
7,325,862 4,205,000 3,120,862
174,138 3,293,492 (3,119,354)
7,500,000 7,498,492 1,508
(7,500,000) (7,502,637) (2,637)
7,500,000 7,495,977 (4,023)
- - -
7,500,000 7,495,977 (4,023)
-$ (6,660) (6,660)$
19,825
13,165$
143
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CITY OF CONCORD JUNE 30, 2022
INTERNAL SERVICE FUNDS
Internal Service Funds are used to finance and account for special activities and services performed by a designated department for other departments in the City on a cost reimbursement basis.
The concept of major funds does not extend to internal service funds because they do not do business with outside parties. Generally accepted accounting principles require that for the Stat ement of Activities, the net revenues or expenses of each internal service fund be eliminated by netting them against the operations of the other City departments which generated them. The remaining balance sheet items are consolidated with these same funds in the Governmental Activities Statement of Net Position.
However, internal service funds are still presented sepa rately in the Fund financial statements, including the funds below:
Worker's Compensation Fund. To account for workers' compensation expenses. This fund is financed by fees charged to the City departments.
Risk Management/Liability Fund. To account for the non-reimbursabl e portion of insurance claims.
Post-Retirement HealthCare Benefit Fund. To account for the contributions and benefits paid in relation to the Post-Retirement Health Care Program.
Fleet Maintenance/Replacement Fund. To accumulate resources to fund the replacement of City licensed vehicles and motorized equipment.
Information Technology Replacement Fund. To accumulate resources to fund the replacement of computers and software for City staff.
Building Maintenance Fund. To accumulate resources required to maintain City facilities.
Compensated Absences Fund. To accumulate funds for the City’s liability associated with employee leave balances attributable to past service and it is probab le that the City will compensate the employees for the benefits through paid time off or some other means, such as cash payment at termination or retirement. 145
CITY OF CONCORD
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF NET POSITION
JUNE 30, 2022
Risk Post-Retirement Fleet
Workers' Mana gement/ Healthcare Maintenance /
Compensation Liabilit y Benefit Re placement
ASSETS
Current Assets:
Cash and Investments 18,713,569 $ 4,204,545 $ - $ 9,175,804$ Accounts Receivable - - 4,341,760 -
Total Current Assets 18,713,569 4,204,545 4,341,760 9,175,804 Advances to Other Funds 4,534,615 - - -
Capital Assets
Buildings and Improvements - - - -
Equipment - - - 13,015,993
Construction In Progress - - - 331,479
Less: Accumulated Depreciation - - - (12,190,114)
Net Capital Assets - - - 1,157,358
Total Assets 23,248,184 4,204,545 4,341,760 10,333,162
LIABILITIES
Current Liabilities:
Accounts Payable - - 1,985 16,318
Accrued Liabilities 312 - - 6,141
Due to Other Funds - - 3,321,696 -
Interest Payable - - - -
Compensated Absences Payable - - - 12,494
Capital Lease Payable - - - -
Claims Payable 2,384,113 1,486,251 - -
Total Current Liabilities 2,384,425 1,486,251 3,323,681 34,953 Non-Current Liabilities
Compensated Absences Payable - - - -
Claims Payable 11,543,607 1,832,968 - -
Long-Term Debt:
Due in More Than One Year - - - -
Total Liabilities 13,928,032 3,319,219 3,323,681 34,953
NET POSITION
Net Investment in Capital Assets - - - 1,157,358
Unrestricted 9,320,152 885,326 1,018,079 9,140,851 Total Net Position 9,320,152$ 885,326$ 1,018,079$ 10,298,209$ 146
Information
Technology Building Compensated
Replacement Maintenance Absences Total
16,178,318$ 3,102,633$ -$ 51,374,869$
- - - 4,341,760
16,178,318 3,102,633 - 55,716,629
- - - 4,534,615
- 48,362,156 - 48,362,156
25,091,093 - - 38,107,086
1,991,707 - - 2,323,186
(21,597,587) (32,738,282) - (66,525,983)
5,485,213 15,623,874 - 22,266,445
21,663,531 18,726,507 - 82,517,689
64,265 38,295 - 120,863
24,220 10,902 - 41,575
- - - 3,321,696
83,200 - - 83,200
84,346 61,173 2,943,793 3,101,806 347,712 - - 347,712
- - - 3,870,364
603,743 110,370 2,943,793 10,887,216 121,157 26,164 2,292,000 2,439,321 - - - 13,376,575
1,487,877 - - 1,487,877
2,212,777 136,534 5,235,793 28,190,989 3,649,624 15,623,874 - 20,430,856
15,801,130 2,966,099 (5,235,793) 33,895,844 19,450,754$ 18,589,973$ (5,235,793)$ 54,326,700$ 147
CITY OF CONCORD
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN FUND NET POSITION
FOR THE YEAR ENDED JUNE 30, 2022
Risk Post-Retiremen t Fleet
Workers' Mana gement/ Healthcare Maintenance/
Compensation Liabilit y Benefit Replacement
OPERATING REVENUES
Charges for services 4,713,720$ 1,969,596$ 4,430,999$ 3,891,542$ Other 47,592 324,502 4,341,760 125,009 Total Operating Revenues 4,761,312 2,294,098 8,772,759 4,016,551
OPERATING EXPENSES
Operations and Maintenance 724,570 1,045,305 7,989,920 2,329,086 Cost of Sales and Services - - 61,567 -
Depreciation - - - 995,260
Claims and Judgments 1,765,840 - - -
Total Operating Expenses 2,490,410 1,045,305 8,051,487 3,324,346 Operating Income (Loss) 2,270,902 1,248,793 721,272 692,205
NONOPERATING REVENUES (EXPENSES)
Interest and Other Income 138,654 31,270 - 74,408 Interest and Other Expense - - - -
Total Non-Operating Revenues (Expenses) 138,654 31,270 - 74,408 Income (Loss) Before Transfers 2,409,556 1,280,063 721,272 766,613 Transfers in - - - -
Transfers out - - - -
Net Contributions and Transfers - - - -
Changes in Net Position 2,409,556 1,280,063 721,272 766,613 Net Position (Deficit) Beginning 6,910,596 (394,737) 296,807 9,531,596 Net Position (Deficit) Ending 9,320,152$ 885,326 $ 1,018,079 $ 10,298,209 $ 148
Information
Technology Building Compensated
Replacement Maintenance Absences Total
10,251,832$ 3,475,549$ -$ 28,733,238$
- - 75,245 4,914,108
10,251,832 3,475,549 75,245 33,647,346 9,672,847 2,988,882 - 24,750,610
- - - 61,567
1,786,553 1,332,766 - 4,114,579
- - - 1,765,840 -
11,459,400 4,321,648 - 30,692,596
(1,207,568) (846,099) 75,245 2,954,750 138,264 23,283 - 405,879
(88,121) - - (88,121)
50,143 23,283 - 317,758
(1,157,425) (822,816) 75,245 3,272,508 - 600,000 - 600,000
- (202,524) - (202,524)
- 397,476 - 397,476
(1,157,425) (425,340) 75,245 3,669,984 20,608,179 19,015,313 (5,311,038) 50,656,716 19,450,754$ 18,589,973$ (5,235,793)$ 54,326,700$ 149
CITY OF CONCORD
INTERNAL SERVICE FUNDS
COMBINING STATEMENTS OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2022
Risk Post-Retirement Fleet
Workers' Mana gement/ Healthcare Maintenance/
Compensation Liabilit y Benefit Re placement
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from Customers 4,045,793$ 1,249,193$ 4,312,239$ 4,016,551$ Payments to Suppliers - - (3,707,742) (1,571,177) Payments to Employees - - - (771,132)
Claims Paid (1,339,922) (891,384) - -
Net Cash Provided by (Used for)
Operating Activities 2,705,871 357,809 604,497 1,674,242
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Borrowings of Advances From/To Other Funds 76,923 - (604,497) - Transfers In - - - -
Transfers (Out) - - - -
Net Cash Provided by (used for) Non-Capital
Financing Activities 76,923 - (604,497) -
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition and Construction of Capital Assets - - - (747,031) Principal Paid on Debt, Bond Maturities - - - -
Interest and Fiscal Charges Paid - - - -
Net Cash Provided by (used for) Capital and
Related Financing Activities - - - (747,031)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest Received 138,654 31,270 - 74,408
Net Cash Provided by (used for) Investing Activities 138,654 31,270 - 74,408 Net Increase (Decrease) in Cash and
Cash Equivalents 2,921,448 389,079 - 1,001,619 Cash and Investments at Beginning of Period 15,792,121 3,815,466 8,174,185 Cash and Investments at End of Period 18,713,569$ 4,204,545$ -$ 9,175,804$ Reconciliation of Operating Income (Loss)
to Net Cash Provided by Operating Activities:
Operating Income (Loss) 2,270,902$ 1,248,793$ 721,272$ 692,205$ Adjustments to Reconcile Operating Income
to Net Cash Provided by Operating Activities:
Depreciation - - - 995,260
Change in Assets and Liabilities:
Receivables, Net 9,306 400 (118,760) -
Accounts Payable - - 1,985 10,587
Accrued liabilities (255) - - (17,261)
Compensated Absences - - - (6,549)
Self Insurance Claims Payable 425,918 (891,384) - - Net Cash Provided by (Used for) Operating Activities 2,705,871$ 357,809$ 604,497$ 1,674,242$ 150
Information
Technology Building Compensated
Replacement Maintenance Absences Total
10,251,832$ 3,475,549$ 75,245$ 27,426,402$ (6,672,617) (1,757,226) - (13,708,762)
(3,008,287) (1,242,523) (75,245) (5,097,187)
- - - (2,231,306)
570,928 475,800 - 6,389,147
- - - (527,574)
- 600,000 - 600,000
- (202,524) - (202,524)
- 397,476 - (130,098)
(212,530) - - (959,561)
(338,519) - - (338,519)
(59,043) - - (59,043)
(610,092) - - (1,357,123)
138,264 23,283 - 405,879
138,264 23,283 - 405,879
99,100 896,559 - 5,307,805
16,079,218 2,206,074 46,067,064
16,178,318$ 3,102,633$ -$ 51,374,869$
(1,207,568)$ (846,099)$ 75,245$ 2,954,750$
1,786,553 1,332,766 - 4,114,579
- - - (109,054)
60,356 33,840 - 106,768
(80,358) (38,062) - (135,936)
11,945 (6,645) (75,245) (76,494)
- - - (465,466)
570,928$ 475,800$ -$ 6,389,147$
151
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CITY OF CONCORD JUNE 30, 2022
STATISTICAL TABLES AND OTHER SCHEDULES (UNAUDITED)
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CITY OF CONCORD JUNE 30, 2022
STATISTICAL TABLES AND OTHER SCHEDULES (UNAUDITED)
This part of the City’s Annual Comprehensive Financial Report presents detailed information as a context for understanding what the information in the fina ncial statements, note disclosures, and required supplementary information discusses ab out the City’s overall financial health. In contrast to the financial section, the statistical section information is not subject to independent audit.
Financial Trends
These schedules contain trend information to help the reader understand how the City’s financial performance and well- being have changed over time:
Net Position by Component
Changes in Net Position
Fund Balance of Governmental Funds
Changes in Fund Balance of Governmental Funds
Revenue Capacity
The schedules contain information to help the reader assess the City’s significant local revenue sources, the property tax and the sales tax:
Assessed and Estimated Actual Value of Taxable
Property
Taxable Sales by Category
Property Tax Rates, Direct and Overlapping
Governments
Sales Tax Rates
Principal Property Taxpayers Top 25 Sales Tax Producers Property Tax Levies and Collections
Debt Capacity
These schedules present information to help the reader assess the affordab ility of the City’s current levels of outstanding debt and the City of Concord’s ability to issue additional debt in the future:
Ratio of Outstanding Debt by Type
Direct and Overlapping Debt
Computation of Legal Bonded Debt Margin
Sewer Revenue Bonds Coverage
Bonded Debt Pledged Revenue Coverage - Tax Allocation Bonds Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place:
Demographic and Economic Statistics
Principal Employers
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the City’s financial report relates to the services the City provides and the activities it performs:
Full-Time Equivalent (FTE) City Government Employees by Function Operating Indicators by Function/Program
Capital Asset Statistics by Function/Program
Sources
Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports for the relevant year.
155
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Table 1: Net Position by Component
Last Ten Fiscal Years (Accrual Basis of Accounting)
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Governmental Activities
Net Investment in Capital
Assets $634,988,057 $618,444,600 $585,592,444 $589,252,002 $587,171,677 $582,183,019 $572,790,039 $561,198,070 $541,706,437 $530,314,569 Restricted 63,076,928 46,681,397 41,237,857 40,851,626 66,326,202 62,391,506 64,537,706 65,058,755 66,839,604 91,225,647 Unrestricted 31,345,470 56,944,430 (56,475,621) (47,810,150) (75,116,464) (110,301,555) (119,503,391) (123,583,432) (110,262,539) (94,017,430) Total Governmental
Activities Net
Position $729,410,455 $722,070,427 $570,354,680 $582,293,478 $578,381,415 $534,272,970 $517,824,354 $502,673,393 $498,283,502 $527,522,786 Business-Type Activities
Net Investment in Capital
Assets $54,902,054 $56,304,062 $53,687,074 $50,820,240 $47,536,924 $46,948,620 $49,674,672 $50,328,261 $50,550,507 $49,463,249 Restricted
Unrestricted 16,229,947 10,651,600 12,127,606 15,646,475 21,202,439 24,478,697 25,679,978 28,073,896 33,477,518 42,948,704 Total Business-Type
Activities Net $71,132,001 $66,955,662 $65,814,680 $66,466,715 $68,739,363 $71,427,317 $75,354,650 $78,402,157 $84,028,025 $92,411,953 Primary Government
Net Investment in Capital
Assets $689,890,111 $674,748,662 $639,279,518 $640,072,242 $634,708,601 $629,131,639 $622,464,711 $611,526,331 $592,256,944 $579,777,818 Restricted 63,076,928 46,681,397 41,237,857 40,851,626 66,326,202 62,391,506 64,537,706 65,058,755 66,839,604 91,225,647 Unrestricted 47,575,417 67,596,030 (44,348,015) (32,163,675) (53,914,025) (85,822,858) (93,823,413) (95,509,536) (76,785,021) (51,068,726) Total Primary
Government Net
Position $800,542,456 $789,026,089 $636,169,360 $648,760,193 $647,120,778 $605,700,287 $593,179,004 $581,075,550 $582,311,527 $619,934,739 Fiscal Year Ended June 30,
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions
Net Investment in Capital Assets Restricted Unrestricted 157
Table 2: Changes in Net Position
Last Ten Fiscal Years (Accrual Basis of Accounting)
2013 2014 2015 2016 2017
Expenses
Governmental Activities:
General Government $17,203,231 $17,720,024 $19,637,142 $13,936,670 $16,582,756 Public Safety 46,357,766 43,124,635 48,814,600 48,436,133 55,692,961 Public Works 33,607,422 37,036,728 33,134,581 20,568,699 35,438,199 Community Development 8,677,518 8,634,948 9,953,592 14,089,870 13,965,084 Economic Development and Base Reuse
Parks and Recreation 6,045,819 5,803,618 4,870,437 5,062,929 5,886,667 Interest on Long Term Debt 1,282,725 1,356,197 1,273,563 1,216,836 1,160,987 Total Governmental Activities Expenses 113,174,481 113,676,150 117,683,914 103,311,137 128,726,654 Business-Type Activities:
Sewer 24,908,709 26,764,449 25,835,431 26,720,865 27,761,599 Golf Course 1,308,344 1,351,250 1,333,597 1,530,829 1,456,261 Total Business-Type Activities Expenses 26,217,053 28,115,699 27,169,028 28,251,694 29,217,860 Total Primary Government Expenses $139,391,534 $141,791,849 $144,852,942 $131,562,831 $157,944,514 Program Revenues
Governmental Activities:
Charges for Services:
General Government $1,528,975 $1,960,144 $2,207,723 $1,597,487 1,612,058 Public Safety 1,255,763 1,459,631 1,222,722 1,384,021 1,228,543 Public Works 5,675,622 2,568,214 349,321 568,733 1,491,617 Community Development 3,226,130 4,421,290 4,105,601 5,307,348 7,165,958 Economic Development and Base Reuse
Parks and Recreation 2,531,616 3,140,708 2,928,447 2,732,366 2,859,377 Operating Grants and Contributions 8,281,796 7,839,509 40,439,282 38,455,430 6,909,863 Capital Grants and Contributions 4,021,042 8,240,626 5,941,945 9,732,184 11,109,794 Total Governmental Activities Program Revenues 26,520,944 29,630,122 57,195,041 59,777,569 32,377,210 Business-Type Activities:
Charges for Services:
Sewer Wastewater 19,420,225 22,099,344 24,349,277 27,319,039 29,921,759 Golf Course 1,381,788 1,442,836 1,449,756 1,406,707 1,329,987 Capital Grants and Contributions 33,945 96,626 85,532 173 Total Business-Type Activities Program Revenue 20,835,958 23,638,806 25,884,565 28,725,919 31,251,746 Total Primary Government Program Revenues $47,356,902 $53,268,928 $83,079,606 $88,503,488 $63,628,956 Net (Expense)/Revenue
Governmental Activities ($86,653,537) ($84,046,028) ($60,488,873) ($43,533,568) ($96,349,444) Business-Type Activities (5,381,095) (4,476,893) (1,284,463) 474,225 2,033,886 Total Primary Government Net Expense ($92,034,632) ($88,522,921) ($61,773,336) ($43,059,343) ($94,315,558) General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property Taxes $15,017,785 $15,707,019 $17,457,504 $18,211,711 $19,185,672 Sales Taxes 36,423,806 40,070,675 11,554,083 12,134,557 46,004,776 Transient Occupancy Taxes 1,832,615 2,262,589 2,619,411 2,713,073 2,917,223 Business License Taxes 3,365,317 3,324,299 3,423,860 3,521,309 3,738,976 Other Taxes 5,269,956 5,962,699 6,188,928 7,222,669 7,623,072 Motor Vehicle In-Lieu 7,682,740 8,073,738 8,864,341 9,519,809 10,056,999 Investment Earnings 98,740 1,304,981 2,507,489 2,631,738 2,910,663 Miscellaneous Revenues 357,827 (482,500)
Restructure Investment in Partnership (2,362,972)
Transfers
Gain (Loss) on Sale of Land
assumed by Successor Agency
Total Governmental Activities 70,048,786 76,706,000 50,252,644 55,472,366 92,437,381 Business-Type Activities:
Investment Earnings 73,758 208,050 93,481 127,810 221,459 Miscellaneous Revenues 38,549 92,504 50,000 50,000 17,303 Transfers
Total Business-Type Activities 112,307 300,554 143,481 177,810 238,762 Total Primary Government $70,161,093 $77,006,554 $50,396,125 $55,650,176 $92,676,143 Change in Net Position
Governmental Activities ($16,604,751) ($7,340,028) ($10,236,229) $11,938,798 ($3,912,063) Business-Type Activities (5,268,788) (4,176,339) (1,140,982) 652,035 2,272,648 Total Primary Government ($21,873,539) ($11,516,367) ($11,377,211) $12,590,833 ($1,639,415) Note: (a) In FY 2020-21, Economic Development was transferred from Community Development to Economic Development and Base Reuse.
Fiscal Year Ended June 30,
158
Table 2: Changes in Net Position (continued)
Last Ten Fiscal Years (Accrual Basis of Accounting)
2018 2019 2020 2021 (a) 2022
Expenses
Governmental Activities:
General Government $19,717,835 $39,757,686 $39,791,046 $39,002,810 $42,401,112 Public Safety 68,736,160 72,492,181 66,267,792 55,878,311 Public Works 36,908,454 15,317,513 14,497,917 13,593,654 13,612,352 Community Development 15,904,601 18,245,689 17,769,196 15,430,089 11,981,076 Economic Development and Base Reuse 4,211,689 1,510,058 Parks and Recreation 5,439,542 7,147,114 7,069,156 6,041,570 7,031,117 Interest on Long Term Debt 1,494,780 1,020,071 941,699 1,439,649 4,157,942 Total Governmental Activities Expenses 79,465,212 150,224,233 152,561,195 145,987,253 136,571,968 Business-Type Activities:
Sewer 31,036,421 32,911,331 36,565,521 35,308,937 33,219,397 Golf Course 1,484,585 1,447,348 1,601,547 1,676,402 1,801,508 Total Business-Type Activities Expenses 32,521,006 34,358,679 38,167,068 36,985,339 35,020,905 Total Primary Government Expenses $111,986,218 $184,582,912 $190,728,263 $182,972,592 $171,592,873 Program Revenues
Governmental Activities:
Charges for Services:
General Government 1,595,480 843,783 898,676 908,898 1,626,091 Public Safety 1,401,039 1,269,483 1,495,111 723,768 1,140,958 Public Works 1,068,348 636,304 3,405,245 1,350,050 2,464,246 Community Development 6,945,682 7,901,518 7,099,717 7,857,293 8,272,450 Economic Development and Base Reuse 2,709 7,095
Parks and Recreation 3,131,394 2,959,467 2,098,265 1,577,804 3,802,648 Operating Grants and Contributions 4,654,854 4,377,022 3,970,247 5,163,840 9,552,896 Capital Grants and Contributions 14,048,546 13,505,029 11,815,948 13,418,012 13,325,322 Total Governmental Activities Program Revenues 32,845,343 31,492,606 30,783,209 31,002,374 40,191,706 Business-Type Activities:
Charges for Services:
Sewer Wastewater 33,133,014 35,880,678 38,409,908 39,723,870 41,236,631 Golf Course 1,510,340 1,476,636 1,632,993 2,610,973 2,359,290 Capital Grants and Contributions 16,427
Total Business-Type Activities Program Revenue 34,659,781 37,357,314 40,042,901 42,334,843 43,595,921 Total Primary Government Program Revenues $67,505,124 $68,849,920 $70,826,110 $73,337,217 $83,787,627 Net (Expense)/Revenue
Governmental Activities ($46,619,869) ($118,731,627) ($121,777,986) ($114,984,879) ($96,380,262) Business-Type Activities 2,138,775 2,998,635 1,875,833 5,349,504 8,575,016 Total Primary Government Net Expense ($44,481,094) ($115,732,992) ($119,902,153) ($109,635,375) ($87,805,246) General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property Taxes $20,469,886 $21,818,338 $23,212,753 $24,115,482 $25,239,418 Sales Taxes 48,474,643 49,185,212 48,059,150 58,795,766 73,890,982 Transient Occupancy Taxes 3,039,725 2,933,099 2,531,487 1,960,534 2,197,673 Business License Taxes 3,795,848 4,015,577 3,792,877 3,685,324 4,016,929 Other Taxes 8,174,327 8,282,066 9,059,762 8,592,910 8,811,400 Motor Vehicle In-Lieu 10,610,977 11,445,342 12,195,444 12,784,112 13,236,505 Investment Earnings 3,531,722 4,146,894 6,676,564 666,435 (1,770,361) Miscellaneous Revenues
Restructure Investment in Partnership
Transfers (5,575) (3,000)
Gain (Loss) on Sale of Land 1,098,988
assumed by Successor Agency 456,483
Total Governmental Activities 98,097,128 102,283,011 106,627,025 110,594,988 125,619,546 Business-Type Activities:
Investment Earnings 549,179 928,698 1,171,674 270,789 (194,088) Miscellaneous Revenues
Transfers 5,575 3,000
Total Business-Type Activities 549,179 928,698 1,171,674 276,364 (191,088) Total Primary Government $98,646,307 $103,211,709 $107,798,699 $110,871,352 $125,428,458 Change in Net Position
Governmental Activities $51,477,259 ($16,448,616) ($15,150,961) ($4,389,891) $29,239,284 Business-Type Activities 2,687,954 3,927,333 3,047,507 5,625,868 8,383,928 Total Primary Government $54,165,213 ($12,521,283) ($12,103,454) $1,235,977 $37,623,212 Fiscal Year Ended June 30,
159
Table 3: Fund Balance of Governmental Funds
Last Ten Fiscal Years (Modified Accrual Basis of Accounting) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
General Fund
Nonspendable $2,043,766 $3,166,230 $5,300,213 $7,678,457 $9,459,544 $9,445,016 $8,386,175 $11,746,479 $11,804,305 $11,881,228 Restricted 14,424 12,180 10,101 872,011 1,173,144
Assigned 1,082,256 795,794 1,252,513 4,475,678 1,923,138 2,067,659 2,029,710 1,983,462 3,304,968 3,314,375 Unassigned 16,499,789 20,700,348 27,381,312 23,648,756 28,174,416 26,940,887 32,178,645 29,029,216 42,634,838 45,490,014 Total General
Fund $19,625,811 $24,662,372 $33,934,038 $35,802,891 $39,557,098 $38,467,986 $42,606,710 $42,769,258 $58,616,122 $61,858,761 All Other Governmental Funds
Nonspendable $5,378,858 $1,862,800 $4,646,748 $11,784 $2,561,514 Restricted $45,936,715 46,681,397 70,264,462 67,547,802 66,326,202 62,391,506 $70,914,380 $71,493,015 $187,787,269 $192,238,110 Assigned 594,718 889,276 1,310,956 3,765,571 4,861,181 5,609,181 3,565,866 6,872,198 7,556,051 23,327,936 Unassigned (357,792) (533,646) (1,463) (1,423) (1,380) (1,320) (1,230) (1,144) (52,993) (1,045) Total All Other
Governmental
Funds
$46,173,641 $52,415,885 $73,436,755 $75,958,698 $71,197,787 $70,560,881 $74,479,016 $78,364,069 $195,290,327 $215,565,001 $0
$5
$10
$15
$20
$25
$30
$35
$40
$45
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions
Nonspendable Restricted Assigned Unassigned
160
This Page Left Intentionally Blank
Table 4: Change in Fund Balance of Governmental Funds Last Ten Fiscal Years (Modified Accrual Basis of Accounting) 2013 2014 2015 2016 2017
Revenues
Taxes $69,592,219 $75,401,019 $50,108,127 $53,323,128 $89,526,717 Motor Vehicle in Lieu, Unrestricted
Licenses and Permits 1,595,963 1,970,553 1,850,505 2,190,733 3,457,297 Intergovernmental 12,378,380 12,885,940 41,713,386 46,499,748 12,386,529 Charges for Services 5,261,683 5,612,534 5,978,672 5,876,652 7,317,423 Fines, Forfeitures and Penalties 691,038 761,785 796,512 774,534 723,440 Parks and Recreation 2,685,527 2,818,062 2,928,447 2,831,036 2,859,377 Use of Money and Property 1,309,506 1,009,907 2,310,630 2,354,703 2,594,695 Special Assessment Collections 163,596 6,832 1,125
Other 4,342,263 5,275,468 6,011,512 1,768,268 4,737,973 Total Revenues 98,020,175 105,742,100 111,698,916 115,618,802 123,603,451 Expenditures
Current:
General Government 14,985,503 18,605,624 19,047,800 15,581,374 15,525,619 Public Safety 42,704,531 44,136,225 45,819,891 50,507,794 54,183,706 Public Works 11,347,815 10,425,279 10,951,657 11,854,456 12,282,569 Economic Development and Base Reuse
Community Development 7,996,949 8,749,004 9,498,491 14,294,898 13,648,938 Parks and Recreation 5,393,965 5,713,152 4,550,920 5,004,907 5,311,993 Capital Outlay 7,456,646 3,663,569 5,259,873 8,653,279 19,124,097 Debt Service:
Principal Repayment 2,077,019 3,013,844 1,971,156 3,355,956 3,394,025 Interest and Fiscal Charges 1,329,310 1,246,501 1,197,281 1,220,728 1,182,775 Total Expenditures 93,291,738 95,553,198 98,297,069 110,473,392 124,653,722 Excess (Deficiency) of Revenues Over
(Under) Expenditures 4,728,437 10,188,902 13,401,847 5,145,410 (1,050,271) Other Financing Sources (Uses)
Transfers In 3,908,060 3,686,553 4,694,031 12,
921,595 6,911,566
Trans
fers (Out) (3,240,875) (3,541,691) (5,401,418) (13,676,209) (6,867,999) Issuance of long-term debt
Bond issuance premium
Proceeds from Sale of Property
Proceeds from Refunding Bonds
Proceeds from Debt Issuance 20,000,000
Payments to Refunded Bond Escrow
Total Other Financing Sources (Uses) 667,185 144,862 19,292,613 (754,614) 43,567 Special/Extraordinary Items
Assets transferred to Housing Successor
Partnership Note Restructuring (2,384,126)
by the Successor Agency
Total Special/Extraordinary Items (2,384,126)
Net Change in Fund Balances $5,395,622 $10,333,764 $30,310,334 $4,390,796 ($1,006,704) Debt Service as a Percentage of
Non-Capital Expenditures 10.2% 4.0% 4.4% 3.4% 5.3%
(a) Economic Development was transferred out of Community Development during 2021. (b) Motor Vehicle in Lieu was moved out of the Taxes category in fiscal year 2021. Prior year amounts were not revised.
Fiscal Year Ended June 30,
162
Table 4: Change in Fund Balance of Governmental Funds (Continued) Last Ten Fiscal Years (Modified Accrual Basis of Accounting) 2018 2019 2020 2021 (a)(b) 2022
Revenues
Taxes $94,565,406 $97,679,634 $98,461,535 $97,076,921 $114,156,402 Motor Vehicle in Lieu, Unrestricted 12,784,112 13,236,505 Licenses and Permits 3,249,276 2,483,185 4,997,645 3,314,719 4,206,114 Intergovernmental 14,019,651 16,676,525 11,521,918 16,345,516 21,686,331 Charges for Services 7,042,046 8,041,075 8,075,358 7,965,906 8,779,626 Fines, Forfeitures and Penalties 719,231 935,560 718,220 294,925 423,599 Parks and Recreation 3,131,397 2,959,467 1,845,834 1,329,657 2,565,628 Use of Money and Property 3,079,499 3,789,572 6,135,591 687,412 (1,423,041) Special Assessment Collections 8,486 6,033 7,795
Other 5,502,246 5,171,706 5,244,106 1,432,252 1,743,048 Total Revenues 131,308,752 137,736,724 137,008,693 141,237,453 165,382,007 Expenditures
Current:
General Government 19,243,077 15,978,713 16,665,500 15,861,573 20,463,554 Public Safety 57,813,409 59,348,021 61,971,216 58,860,621 64,666,878 Public Works 12,683,894 13,107,750 13,394,012 13,534,439 15,578,502 Economic Development and Base Reuse 4,213,506 1,582,886 Community Development 15,688,158 17,529,921 17,188,821 15,576,523 13,370,779 Parks and Recreation 5,340,701 5,689,238 5,690,676 4,933,881 6,279,567 Capital Outlay 17,831,088 13,442,007 12,166,259 6,054,893 10,736,298 Debt Service:
Principal Repayment 3,340,000 3,622,000 3,703,000 12,790,000 4,954,286 Interest and Fiscal Charges 1,464,343 1,014,616 967,893 1,595,584 3,831,468 Total Expenditures 133,404,670 129,732,266 131,747,377 133,421,020 141,464,218 Excess (Deficiency) of Revenues Over
(Under) Expenditures (2,095,918) 8,004,458 5,261,316 7,816,433 23,917,789 Other Financi
ng Sources (Uses)
Transfers In 10,983,035 10,424,941 8,822,097 6,108,973 27,533,602 Transfers (Out) (10,807,816) (10,372,540) (11,134,800) (5,919,471) (27,934,078) Issuance of long-term debt 109,480,000
Bond issuance premium 15,287,187
Proceeds from Sale of Property 1,098,988
Proceeds from Refunding Bonds 6,820,000
Proceeds from Debt Issuance
Payments to Refunded Bond Escrow (6,625,319)
Total Other Financing Sources (Uses) 369,900 52,401 (1,213,715) 124,956,689 (400,476) Special/Extraordinary Items
Assets transferred to Housing Successor
Partnership Note Restructuring
by the Successor Agency
Total Special/Extraordinary Items
Net Change in Fund Balances ($1,726,018) $8,056,859 $4,047,601 $132,773,122 $23,517,313 Debt Service as a Percentage of
Non-Capital Expenditures 4.1% 4.0% 3.9% 11.3% 6.7%
(a) Economic Development was transferred out of Community Development during 2021. (b) Motor Vehicle in Lieu was moved out of the Taxes category in fiscal year 2021. Prior year amounts were not revised.
Fiscal Year Ended June 30,
163
Table 5: Assessed and Estimated Actual Value of Taxable Property Last Ten Fiscal Years
Redevelopment Total Real Total
Fiscal City Agency Secured Unsecured Total Estimated Direct Year Property Property Property Property Assessed (a) Full Market (a) Tax Rate (b) 2013 $10,123,412,924 $1,351,812,885 $11,475,225,809 $479,678,800 $11,954,904,609 $11,954,904,609 1% 2014 10,742,832,848 1,363,624,486 12,106,457,334 451,080,860 12,557,538,194 12,557,538,194 1% 2015 11,811,954,307 1,433,031,794 13,244,986,101 476,697,389 13,721,683,490 13,721,683,490 1% 2016 12,681,944,657 1,526,960,513 14,208,905,170 493,146,035 14,702,051,205 14,702,051,205 1% 2017 13,449,336,453 1,589,761,444 15,039,097,897 499,520,206 15,539,072,098 15,539,072,098 1% 2018 14,199,964,301 1,714,612,342 15,914,576,643 500,022,045 16,415,052,683 16,415,052,683 1% 2019 15,160,081,885 1,983,980,866 17,144,062,751 534,262,345 17,678,830,545 17,678,830,545 1% 2020 15,991,867,840 2,264,563,696 18,256,431,536 583,376,968 18,840,313,953 18,840,313,953 1% 2021 16,699,330,758 2,420,552,771 19,119,883,529 626,998,306 19,747,387,284 19,747,387,284 1% 2022 17,341,401,841 2,511,040,890 19,852,442,731 608,844,987 20,461,793,167 20,461,793,167 1% Notes:
(a) The State Constitution requires property to be assessed at one hundred percent of the most recent purchase price, plus an increment of no more than two percent annually, plus any local over-rides.
These values are considered to be full market values.
(b) California cities do not set their own direct tax rate. The State Constitution establishes the rate at 1% and allocates a portion of
that amount, by an annual calculation, to all the taxing entities within a tax rate area.
The City of Concord encompasses more than 15 tax rate areas.
Source: Contra Costa County Auditor-Controller's Office, Certificate of Assessed Valuations $0
$5
$10
$15
$20
$25
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Billions
Unsecured Property Secured Property
164
Table 6: Property Tax Rates, Direct and Overlapping Governments Last Ten Fiscal Years
Contr a Costa East Bay Mt. Diablo Unified
Fiscal City & County Bay Area Water Land Regional Park School District & Year Direct Rate Rapid Transit Levy District Community College Total 2013 1.0000 0.0043 0.0045 0.0051 0.0958 1.1097
2014 1.0000 0.0075 0.0042 0.0078 0.0873 1.1068
2015 1.0000 0.0045 0.0037 0.0085 0.1105 1.1272
2016 1.0000 0.0026 0.0035 0.0067 0.1032 1.1160
2017 1.0000 0.0080 0.0032 0.0032 0.0884 1.1028
2018 1.0000 0.0084 0.0030 0.0021 0.0904 1.1039
2019 1.0000 0.0070 0.0028 0.0021 0.1035 1.1154
2020 1.0000 0.0120 0.0026 0.0094 0.1096 1.1336
2021 1.0000 0.0139 0.0025 0.0014 0.1070 1.1248
2022 1.0000 0.0060 0.0023 0.0020 0.1074 1.1177
Notes:
Source: HdL Companies
Overlapping Rates
In 1978, California voters passed Proposition 13 which set the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for which the subject property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property values for the payment of any voter approved bonds.
Overlapping rates are those of local and county governments that apply to property owners within the City. Not all overlapping rates apply to all city property owners.
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Per Hundred $
Contra Costa Water Land Levy
Mt. Diablo Unified School District & Community College
East Bay Regional Park District
Bay Area Rapid Transit
Basic County Wide Levy
165
Table 7: Principal Property Taxpayers
Current Year and Nine Years Ago
Percentage Percentage
Assessed of Total Assessed of Total
Primary Land Use Value Rank Assessed Value Value Rank Assessed Value Taubman Land Associates LLC Commercial $297,939,233 1 1.53% $165,925,734 1 1.47% Concord Centercal Owner LLC Commercial 211,766,103 2 1.09% Renaissance Res Holdings LLC Residential 152,630,872 3 0.78% Concord Technology Center Properties Commercial 150,541,931 4 0.77% Willows Center Concord Commercial 124,342,771 5 0.64% 59,972,537 6 0.53% Sequoia Equities Concord PC LLC Residential 120,952,351 6 0.62% Jamestown Concord Technology Commercial 106,245,912 7 0.54% SPPI Commercial LLC Commercial 104,927,721 8 0.54%
Seecon Financial and Construction Co Commercial 84,675,998 9 0.43% Clayton Valley Shopping Center Commercial 78,131,515 10 0.40% 64,882,644 5 0.57% Chevron USA Inc Commercial 122,143,466 2 1.08%
Sierra Pacific Properties Inc Commercial 80,045,585 3 0.71% Seecon Financial and Construction Co Commercial 74,290,368 4 0.66% SFG Owner A LLC Commercial 49,549,500 7 0.44%
Behringer Harvard Renaissance Residential 48,168,718 8 0.43% Concord Center Investors LLC Commercial 43,554,000 9 0.38% Concord Airport Plaza Associates Commercial 42,765,982 10 0.38% Top Ten Total $1,432,154,407 7.34% $751,298,534 6.65%
City Total $19,517,320,477 $11,316,592,977
Source: Tables provided by HdL Companies.
2021-22 2012-13
Property Owner
166
Table 8: Property Tax Levies and Collections
Last Ten Fiscal Years
Percent of
Current Percent Delinquent Total Total Tax County
Fiscal Total Tax of Levy Tax Tax Collections Delinquency Year Tax Levy (a) Collections (b) Collected Collections (a) Collections to Tax Levy Rate (c) 2013 $15,017,785 $15,017,785 100.0000% n/a $15,017,785 100.0000% n/a 2014 15,707,019 15,707,019 100.0000% n/a 15,707,019 100.0000% n/a 2015 17,457,504 17,457,504 100.0000% n/a 17,457,504 100.0000% n/a 2016 18,211,711 18,211,711 100.0000% n/a 18,211,711 100.0000% n/a 2017 19,185,672 19,185,672 100.0000% n/a 19,185,672 100.0000% n/a 2018 20,469,886 20,469,886 100.0000% n/a 20,469,886 100.0000% n/a 2019 21,818,338 21,818,338 100.0000% n/a 21,818,338 100.0000% n/a 2020 23,212,753 23,212,753 100.0000% n/a 23,212,753 100.0000% n/a 2021 24,115,482 24,115,482 100.0000% n/a 24,115,482 100.0000% n/a 2022 25,239,418 25,239,418 100.0000% n/a 25,239,418 100.0000% n/a Notes:
Current tax collections beginning in 1993 have been reduced by a mandatory tax reallocation imposed by the State of California.
(a) During fiscal year 1995, the County began providing the City 100% of its tax levy under an agreement, the Teeter Plan which allows the County to keep all interest and delinquency charges collected. (b) Tax collections in fiscal year 2005 to 2012 are net of pass-thru payment and Educational Revenue Augmentation Fund withholding. During 2012, tax increment was no longer distributed due to the dissolution of the Redevelopment Agency. (c) Data is not available for the years being reported.
Source: City of Concord Finance Department
$0.0
$2.5
$5.0
$7.5
$10.0
$12.5
$15.0
$17.5
$20.0
$22.5
$25.0
$27.5
$30.0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions
Total Tax Levy (a) Tax Collections
167
Table 9: Taxable Sales by Category
Last Ten Calendar Years (Dollars in Thousands)
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Apparel Stores $124,291 $129,620 $133,502 $138,586 $142,501 $146,960 $173,749 $168,580 $112,514 $170,621 General Merchandise 308,564 313,737 311,632 304,047 302,708 310,343 315,809 313,316 242,987 302,578 Food Stores 58,427 58,493 62,148 63,762 65,119 65,916 68,123 71,154 74,323 73,696 Eating and Drinking Places 180,308 192,642 205,667 225,497 243,476 256,602 278,975 313,946 219,910 297,944 Building Materials 247,999 290,872 312,302 337,834 348,717 286,204 436,609 454,626 468,703 541,125 Auto Dealers and Supplies 635,292 687,432 750,293 855,661 920,088 961,963 918,324 891,375 776,277 904,931 Service Stations 169,507 165,377 168,632 152,664 137,249 147,571 167,913 173,743 119,129 167,138 Other Retail Stores 332,318 336,352 339,263 366,883 375,450 380,199 384,749 362,074 314,038 378,736 All Other Outlets 601,219 654,508 742,367 847,796 888,391 939,375 1,032,773 1,122,054 1,370,111 1,384,363 Total $2,657,925 $2,829,033 $3,025,806 $3,292,730 $3,423,699 $3,495,133 $3,777,024 $3,870,868 $3,697,992 $4,221,132 Note:
Sources: State Board of Equalization, California Department of Taxes and Fees Administration, State Controller's Office, The HdL Companies Due to confidentiality issues, the names of the ten largest revenue payers are not available. The categories presented are intended to provide alternative information regarding the sources of the City's revenue.
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
All Other Outlets
Other Retail Stores
Service Stations
Auto Dealers and Supplies
Building Materials
Eating and Drinking Places
Food Stores
General Merchandise
Apparel Stores
168
Table 10: Sales Tax Rates
Last Ten Fiscal Years
Fiscal Year City Direct Rate Contra Costa
County
Bay Area Rapid
Transit
Contra Costa
Transportation
Authority
State of
California Total
2013 1.25% 0.25% 0.50% 0.50% 6.50% (c) 9.00%
2014 1.25% 0.25% 0.50% 0.50% 6.50% 9.00%
2015 1.25% 0.25% 0.50% 0.50% 6.50% 9.00%
2016 1.25% 0.25% 0.50% 0.50% 6.50% 9.00%
2017 1.50% (d) 0.25% 0.50% 0.50% 6.00% (d),(e) 8.75%
2018 1.50% 0.25% 0.50% 0.50% 6.00% 8.75%
2019 1.50% 0.25% 0.50% 0.50% 6.00% 8.75%
2020 1.50% 0.25% 0.50% 0.50% 6.00% 8.75%
2021 2.00% (a) 0.75% (f) 0.50% 0.50% 6.00% 9.75%
2022 2.00% 0.75% 0.50% 0.50% 6.00% 9.75%
Notes:
(a) A full-cent use and transaction tax (Measure V) was originally approved in November 2020 and will continue until ended by voters. (b) The State Revenue and Taxation Code Section 6201.7 one percent rate increase expired July 1, 2011. (c) Proposition 30 increased the sales tax by 0.25% on January 1, 2013. (d) The end of the revenue "swap" of Proposition 57 resulted in a 0.25% increase to the local sales tax rate, and 0.25% decrease to the state. (e) Proposition 30 0.25% sales tax increase expired on December 31, 2016. (f) A half-cent sales tax approved by county voters in November 2020 and expires in 20 years..
Source: California Department of Tax and Fee Administration
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
City Direct Rate Contra Costa County Bay Area Rapid Transit Contra Costa Transportation Authority State of California 169
Table 11: Top 25 Sales Tax Producers
Current and Nine Years Ago
2021-22 2012-13
Acura of Concord Acura of Concord
Ashby Lumber Arco
Audi Concord Ashby Lumber
BMW Concord Audi of Concord
Concord Chevrolet BMW Concord
Concord Honda Chevron
Concord Mazda Concord Chevrolet
Concord Toyota Concord Honda
Costco Concord Nissan
Dolans Concord Lumber Concord Toyota
Elite Motor Cars Costco
Future Chrysler Dodge Jeep Ram of Concord Dolans Concord Lumber Future Ford Lincoln of Concord Frys Electronics
Golden State Lumber Future Ford Lincoln of Concord
Home Depot Home Depot
Independent Electric Supply Independent Electric Supply Lehmers Buick/Pontiac/GMC JC Penney
Lexus of Concord Lehmers Buick/Pontiac/GMC
Lowes Lexus of Concord
Macys Lowes
Pacific States Petroleum Macys
Patterson Dental Supply Neillo Infiniti
Sigler Orchard Supply Hardware
TJ Maxx Safeway
Vici Sears
Fiscal Year Total Paid By Top 25 Accounts
= 46.36%
Source: HdL Companies.
Fiscal Year Total Paid By Top 25 Accounts =
43.56%
170
Table 12: Ratio of Outstanding Debt by Type
Last Ten Fiscal Years (Dollars in Millions)
Refunding Lease
Fiscal Certificates of Revenue Lease Agree- Notes Capital Purchase Year Participation Bonds ment Payable Lease Agreement Total 2013 $9.1 $3.9 $1.4 $1.9 $8.0 $24.3
2014 7.7 3.5 0.5 1.8 7.7 21.2
2015 24.6 2.6 1.3 7.4 35.9
2016 22.1 2.1 0.7 7.0 32.0
2017 19.7 1.6 0.3 6.6 28.1
2018 17.2 7.6 0.1 24.9
2019 14.6 6.5 0.0 21.1
2020 12.1 5.3 2.5 19.9
2021 $124.8 4.6 2.2 131.6
2022 119.8 3.9 1.8 125.5
Business-Type Activities
Certificates Total Percentage
Fiscal of Primary of Personal Per
Year Participation Total Government Income (a) Capita (a) 2013 $20.3 $20.3 $44.6 1.03% $335.2
2014 20.4 20.4 41.6 1.39% 454.7
2015 19.5 19.5 55.4 1.43% 443.3
2016 18.2 18.2 50.2 1.28% 361.1
2017 17.1 17.1 45.2 1.13% 352.3
2018 16.2 16.2 41.1 0.98% 318.0
2019 14.9 14.9 36.0 0.81% 277.4
2020 13.8 13.8 33.7 0.71% 258.4
2021 12.7 12.7 138.2 2.68% 1,069.1
2022 11.5 11.5 137.0 2.66% 1,059.8
Notes:
Debt amounts exclude any premiums, discounts, or other amortization amounts. (a) See Demographic and Economic Statistics for personal income and population data.
SourcesCity of Concord Finance Department
State of California, Department of Finance (population) U.S. Department of Commerce, Bureau of the Census (income) Governmental Activities
0 15
30 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions
Total Governmental Total Business
171
Table 13: Direct and Overlapping Debt
As of June 30, 2022
Percentage Amount
Net Applicable Applicable
Debt to City of to City of
Outstanding Concord Concord
Direct Debt
CONCORD 2021 CAPITAL IMPROVEMENT PROJECT $105,275,000 100.000% $105,275,000 PREMIUM ON BONDS 14,522,828 100.000% 14,522,828
CONCORD 2018 REFUNDING LEASE PURCHASE
AGREEMENT 3,910,000 100.000% 3,910,000
MOTOROLA LEASE AGREEMENT 1,835,589 100.000% 1,835,589
Total Direct Debt $125,543,417 $125,543,417
Overlapping Debt
CCC PENSION OBLIGATION BOND $44,925,000 8.335% $3,744,282 CCC PFA 1998A LRB 6,435,000 8.335% 536,326
CCC PFA 1999A LRB 6,310,000 8.335% 525,908
CCC PFA 2002A LRB 4,065,000 8.335% 338,798
CCC PFA 2003A LRB 3,445,000 8.335% 287,124
CCC PFA 2007A LRB 61,030,000 8.335% 5,086,556
CCC PFA 2009A LRB 6,407,008 8.335% 533,993
CCC PFA 2010A-2 LRB 11,995,000 8.335% 999,725
CCC PFA 2010A-3 LRB 20,700,000 8.335% 1,725,245
CCC PFA 2010B LRB 6,055,000 8.335% 504,655
CCC PFA 2012 LRB 6,212,865 8.335% 517,812
CCC PFA 2015 A&B LRB 37,900,000 8.335% 3,158,782
CCC PFA 2017 A LRB 42,320,000 8.335% 3,527,168
CCC PFA 2017B LRB 76,930,000 8.335% 6,411,744
CONTRA COSTA FIRE 26,670,000 17.999% 4,800,349
BART BOND 660,703,057 8.335% 55,066,411
EAST BAY REGIONAL PARK BOND 77,146,356 8.335% 6,429,776 MT DIABLO 2002 BOND 244,095,000 40.792% 99,571,943
MT DIABLO 2010 BOND 269,216,615 40.792% 109,819,625
MT DIABLO 2018 BOND 14,538,000 40.792% 5,930,383
CONTRA COSTA COMMUNITY COLLEGE 2002 BOND 311,230,151 8.362% 26,025,549 CONTRA COSTA COMMUNITY COLLEGE 2006 BOND 354,509,849 8.362% 29,644,664 CONTRA COSTA COMMUNITY COLLEGE 2014 BOND 271,130,000 8.362% 22,672,312 Total Overlapping Debt $2,563,968,901 $387,859,130
Total Direct And Overlapping Debt $513,402,547
2021/22 Total Assessed Valuation $20,461,793,167
Less Redevelopment Incremental Assessed Value: 2,511,040,890 Adjusted AV $17,950,752,277
Debt to Assessed Valuation Ratios: Direct Debt: 0.699%
Overlapping Debt: 2.161%
Total Debt: 2.860%
Sources: HdL Coren & Cone
Certificate of Assessed Valuations from the County Office of the Auditor-Controller Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the city. The percentage of overlapping debt applicable is estimated by using taxable assessed values. Applicable percentages were estimated by determining the portion of another governmental unit’s taxable assessed value that is within the city’s boundaries and dividing it by each unit’s total taxable assessed value. 172
Table 14: Computation of Legal Bonded Debt Margin
As of June 30, 2022 (Dollars in Thousands)
Assessed Valuation:
Secured Property Assessed Value, Net of
Exempt Real Property $20,218,426
Bonded Debt Limit (15% of Assessed Value) (a) $3,032,764 Amount of Debt Subject to Limit:
Total Bonded Debt $0
Less Tax Allocation Bonds and Sales Tax Revenue
Bonds, Certificate of Participation Not Subject to Limit 0 Amount of Debt Subject to Limit 0
Legal Bonded Debt Margin $3,032,764
Total Net Debt
Total Net Debt Legal Applicable to the Limit
Fiscal Debt Applicable to Debt as a Percentage
Year Limit Limit Margin of Debt Limit
2013 (a) $1,883,631 $0 $1,883,631 0.00%
2014 1,695,697 0 1,695,697 0.00%
2015 1,867,287 0 1,867,287 0.00%
2016 2,010,013 0 2,010,013 0.00%
2017 2,128,436 0 2,010,013 0.00%
2018 2,251,362 0 2,251,362 0.00%
2019 2,432,813 0 2,432,813 0.00%
2020 2,592,346 0 2,592,346 0.00%
2021 2,716,105 0 2,716,105 0.00%
2022 3,032,764 0 3,032,764 0.00%
Note:
(a) California Government Code, Section 43605 sets the debt limit at 15%. The Code section was enacted prior to the change in basing assessed value to full market value when it was previously 25% of market value.
Source: City of Concord Finance Department
173
Table 15: Sewer Revenue Bonds Coverage
Last Ten Fiscal Years
Net Revenue Debt Service Requirements
Fiscal Gross Operating Available for
Year Revenue (a) Expenses (b) Debt Service Principal Interest Total Coverage 2013 $19,492,824 $16,854,333 $2,638,491 $845,000 $1,059,754 $1,904,754 1.39 2014 22,301,111 17,842,173 4,458,938 875,000 710,884 1,585,884 2.81 2015 24,439,221 17,889,711 6,549,510 900,000 685,684 1,585,684 4.13 2016 27,439,280 17,943,895 9,495,385 925,000 662,184 1,587,184 5.98 2017 30,136,204 18,208,086 11,928,118 945,000 638,971 1,583,971 7.53 2018 33,672,715 19,436,037 14,236,678 990,000 427,193 1,417,193 10.05 2019 36,795,345 20,066,107 16,729,238 1,025,000 494,551 1,519,551 11.01 2020 39,507,521 20,341,412 19,166,109 1,010,000 504,981 1,514,981 12.65 2021 39,974,490 20,468,000 19,506,490 1,045,000 476,181 1,521,181 12.82 2022 41,002,148 20,650,838 20,351,310 1,075,000 446,281 1,521,281 13.38 Notes: (a) Includes all Wastewater Operating Revenues, Non-Operating Interest Revenue, Connection Fees and Other Non-Operating Revenue.
(b) Includes all Wastewater Operating Expenses less Capital Improvement Expense, Depreciation and Interest.
Source: City of Concord Annual Financial Statements
(6.00)
(4.00)
(2.00)
0.00 2.00
4.00 6.00
8.00 10.00
12.00 14.00
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Coverage
174
Table 16: Bonded Debt Pledged Revenue Coverage,
2004 (Refunded) and Tax Allocation Refunding Bonds Series 2014 Last Ten Fiscal Year
Tax Debt Service Requirements
Fiscal Increment
Year Revenue Principal Interest Total Coverage
2013 * $13,387,000 $3,985,000 $2,357,271 $6,342,271 2.11 2014 13,213,000 4,145,000 2,194,671 6,339,671 2.08
2015 14,330,318 4,100,000 3,520,158 7,620,158 1.88
2016 15,269,605 4,205,000 1,630,450 5,835,450 2.62
2017 15,897,614 4,380,000 1,462,250 5,842,250 2.72
2018 17,146,123 4,605,000 1,243,250 5,848,250 2.93
2019 19,839,809 4,825,000 1,013,000 5,838,000 3.40
2020 22,645,637 2,440,000 771,750 3,211,750 7.05
2021 24,205,527 2,560,000 649,750 3,209,750 7.54
2022 25,110,409 2,690,000 521,750 3,211,750 7.82
Note: * FY2013 data is updated and adjusted to reflect data collected during refunding of the 2004 Tax Allocation Refunding Bonds.
Source: County Redevelopment Successor Agency Property Tax Revenue Report Long Term Debt Schedule - City of Concord Finance Department $0
$5
$10
$15
$20
$25
$30
2013 2014 2015 2016 2017 2018 2019 2020 2021
Millions
Tax Increment Revenue Debt Service Payment
175
Table 17: Demographic and Economic Statistics
Last Ten Calendar Year
Total Per Capita Contra Costa City
Calendar City Personal Personal Unemployment County Population Year Population Income Income Rate Population % of County 2013 123,812 $3,822,819,000 $30,876 7.6% 1,074,702 11.52% 2014 124,656 3,864,336,000 31,000 6.6% 1,087,008 11.47% 2015 124,977 3,877,661,000 31,027 6.7% 1,102,871 11.33% 2016 129,707 3,926,050,000 30,268 5.4% 1,123,429 11.55% 2017 128,370 4,008,751,000 31,228 4.8% 1,139,513 11.27% 2018 129,159 4,207,822,000 32,578 3.9% 1,149,363 11.24% 2019 129,889 4,438,716,000 34,173 2.8% 1,150,215 11.29% 2020 130,435 4,762,661,000 36,595 2.9% 1,150,621 11.34% 2021 129,273 5,151,420,000 39,849 8.7% 1,153,854 11.20% 2022 123,634 5,333,641,000 43,140 5.9% 1,156,555 10.69% Sources: State of California, Department of Finance
0.00%
2.50%
5.00%
7.50%
10.00%
12.50%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Unemployment Rate
11.00%
11.50%
12.00%
12.50%
13.00%
13.50%
14.00%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
City Population as Percentage of County
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Millions
Total Personal Income
$20
$25
$30
$35
$40
$45
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Thousands
Per Capita Personal Income
176
Table 18: Principal Employers
Current Year and Nine Years Ago
Number of Percentage Percentage
Employees of Total City Number of
Employer (Range) Rank Employment* Employees Rank Employment John Muir Medical Ctr 1,000 to 4,999 1 4.7% 1,000 - 4,999 1 4.6% Wells Fargo 1,000 to 4,999 1 4.7%
PG&E 1,000 to 4,999 1 4.7%
Bank of America 500 to 999 2 1.2%
Mt. Diablo Unified School District 500 to 999 2 1.2%
Fresenius Medical Care 500 to 999 2 1.2%
City of Concord 500 to 999 2 1.2%
Costco 500 to 999 2 1.2% 250 - 499 3 0.6%
Home Depot 250 to 499 3 0.6%
County Connection 250 to 499 3 0.6%
Macy's 500 - 999 2 1.1%
Benchmark Electronics Inc 250 - 499 3 0.6%
Central Contra Costa Transit 250 - 499 3 0.6%
Conco Co 250 - 499 3 0.6%
Concord Tax Debt Attorneys 250 - 499 3 0.6%
Contra Costa Water District 250 - 499 3 0.6%
Concord Hotel LLC 250 - 499 3 0.6%
Fry's Electronics 250 - 499 3 0.6%
Jenkins Insurance 250 - 499 3 0.6%
John Wagner Assoc Inc 250 - 499 3 0.6%
Loma Vista Adult Ctr 250 - 499 3 0.6%
Sears 250 - 499 3 0.6%
US Post Office 250 - 499 3 0.6%
Waterworld California 250 - 499 3 0.6%
Subtotal 6,500 - 27,990 21.0% 5,000 - 12,984 14.1%
Total City Day Labor Force: 64,400 65,800
Source: City of Concord Economic Development & Base Reuse Department * 2022 Percentage of total is based on median in the ranges provided. 2022 2013
177
Table 19: Full-Time Equivalent (FTE) City Government Employees by Function Last Ten Fiscal Years
Fiscal Year
2013 2014 2015 2016 2017 2018 2019 2020 2021 (a) 2022
Function
General Government 61 63 64 65 65 62 62 62 56 62
Public Safety 205 211 213 215 215 216 213 209 185 193
Public Works 64 64 64 64 64 64 69 69 65 67
Economic Development & Base 5 4
Community Development 37 39 43 46 46 52 52 54 49 53
Parks & Recreation 15 14 13 13 13 13 13 13 12 14
Sewer 10 10 11 11 11 12 13 11 11 11
Total 392 401 408 414 414 419 422 418 383 404
Source: City of Concord
Notes:
(a) In Fiscal Year 2021, the Economic Development division was transferred out of Community Development and combined with the Base Reuse project. 0 50
100
150
200
250
300
350
400
450
2013 2014 2015 2016 2017 2018 2019 2020 2021 (a) 2022
FTE's
General Government Public Safety Public Works
Economic Development & Base Reuse Community Development Parks & Recreation Sewer
178
Table 20: Operating Indicators by Function / Program
Last Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021(a) 2022
Function/Program
Public Safety
Police:
Number of Community Service Desk Contacts 22,350 32,989 36,469 30,225 24,233 21,040 20,117 21,969 N/A N/A Police Calls for Service 113,527 118,009 123,151 121,433 122,187 125,429 127,024 123,776 112,186 109,256 Law Violations:
Part I Crimes 4,210 5,267 5,594 4,849 4,820 4,919 4,695 4,999 4,035 4,543 Physical Arrests (Adult and Juvenile) 2,837 3,413 4,126 3,853 3,916 3,229 3,532 2,528 2,241 1,912 Parking Violations 8,471 8,107 9,408 7,282 6,002 6,920 7,081 7,282 2,353 4,443 Public Works
Street Resurfacing (millions of square feet) 2 2 2 2 2 2 4 2 0.10 1.14 Potholes Repaired 374 526 704 1,272 3,168 1,460 5,251 2,122 1,433 1,889 Culture and Recreation
Community Services:
Recreation Class Participants 10,736 11,636 12,335 13,251 13,476 12,568 12,540 10,364 3,213 6,938 Senior Center Activity/Event Participants 16,522 17,034 21,886 22,018 18,377 22,075 23,250 25,436 1,067 1,336 Human Services/Club Activity Participants 47,705 33,668 41,868 38,592 33,853 38,740 40,241 7,096 456 39,477 Library:
Volumes in Collection (thousands) 80,573 80,955 80,291 80,692 76,049 77,702 57,523 55,195 52,196 53,259 Total Volumes Borrowed (thousands) 313,743 300,517 247,737 253,522 219,157 195,562 200, 639 139,482 79,560 127,725
Wastewater
Storm Drain Inlets 5,583 5,583 5,583 5,583 5,583 5,583 5,583 5,583 5,583 5,583 Sewer Overflows 34 28 12 9 8 19 10 19 13 13
Notes: N/A denotes information not available.
(a) City stopped tracking the Number of Community Service Desk Contacts during fiscal year 2021.
Source: City of Concord
179
Table 21: Capital Asset Statistics by Function/Program Last Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Function/Program
Public Works
Miles of Streets 309 310 310 310 310 310 310 310 310 310 Street Lights 8,254 8,254 8,256 8,256 8,256 8,256 8,290 8,325 8,379 8,379 Traffic Signals 157 158 158 158 165 173 173 180 195 195 Culture and Recreation
Community Services:
City Parks 18 18 18 18 18 18 18 18 18 18
City Parks Acreage 379 379 379 379 379 379 379 379 379 379 Playgrounds 18 19 19 19 19 19 19 19 19 19
City Trails 8 9 9 9 9 9 9 9 9 9
Miles of City Trails 19 22 22 22 22 22 22 22 22 22
Roadway Landscaping Acreage 52 52 52 52 52 52 52 52 52 52 Regional Park Acreage (a) 40 40 40 40 40 40 40 2,256 2,256 2,256 Regional Park Facilities:
Golf Courses (18 holes) 1 1 1 1 1 1 1 1 1 1
Banquet Facility 4 4 4 4 4 4 4 4 4 4
His
toric House 3 3 3 3 3 3 3 3 3 3
Community Gardens 1 1 1 1 1 1 1 1 1 1
Community Centers 2 2 2 2 2 2 2 2 2 2
Senior Centers 1 1 1 1 1 1 1 1 1 1
Sports Centers 1 1 1 1 1 1 1 1 1 1
Performing Arts Centers 1 1 1 1 1 1 1 1 1 1
Swimming Pool/Spray Park 2 2 2 2 2 2 2 2 2 2
Tennis/Pickleball Courts 17 17 17 27 27 27 27 27 27 27
Baseball/Softball Field Complexes 13 13 13 13 13 13 13 13 13 13 Soccer/Football Field Complexes 13 13 13 13 13 13 13 13 13 13 Library:
City Libraries 1 1 1 1 1 1 1 1 1 1
Wastewater
Sewer Lines (miles) 383 389 389 389 389 389 389 389 389 389 (
a) The East Bay Regional Park District took possession of the former Concord Naval Weapons Station from the National Park Service and Navy in 2020.
Source: City of Concord
180
CITY OF CONCORD JUNE 30, 2022
MUNICIPAL DEBT CONTINUING DISCLOSURE
181
MUNICIPAL DEBT CONTINUING DISCLOSURE
City of Concord Joint Powers Financing Authority
Certificates of Participation (2021 Capital Improvement Project) a. Principal Amount of Certificates Outstanding (ACFR, page 71) b. General Fund Statement of Revenues, Expenditures and Changes in Fund Balances (ACFR, page 30)
c. General Fund Balance Sheet (ACFR, page 28)
d. General Fund Tax Revenues By Source (ACFR, page 30)
e. Assessed Valuations (ACFR, page 164)
City of Concord Joint Powers Financing Authority
Wastewater Revenue Refunding Bonds Series 2012
2018 Wastewater Revenue Refunding Bonds
a. Ten Largest Users of the Wastewater System (Table 1) b. Sewer Rates (Table 2)
c. Debt Service Coverage Ratio (ACFR, page 174)
d. Principal Amount of Bonds Outstanding (ACFR, page 71) Successor Agency of the Former Redevelopment Agency of the City of Concord (Central Concord Redevelopment Project) Tax Allocation Refunding Bonds Series 2014 a. Assessed Valuation by Category of Use (Table 3)
b. Historical Taxable Values and Tax Revenues (Table 4) c. Largest Property Taxpayers by Assessed Value and Revenue (Table 5) d. Annual Assessed Value Appeals (Table 6)
e. Debt Service Coverage (ACFR, page 175)
f. Tax Revenue Projection (Table 7)
182
City of Concord Joint Powers Financing Authority
Wastewater Revenue Refunding Bonds Series 2012
2018 Wastewater Revenue Refunding Bonds
Customers Type of Use Percent
1. MT. DIABLO UNIFIED SCHOOL DISTRICT 29 Sites 0.73%
2. JOHN MUIR MEDICAL CENTER Hospital and Medical Campus 0.50%
3. PALM LAKE APARTMENTS 300 Apartments 0.48%
4. CLAYTON CROSSING APARTMENTS 290 Apartments 0.47%
5. VERANDA Shopping Centers 0.42%
6. DALIS GARDENS MOB HOME PARK 260 Spaces 0.42%
7. STERLING COVE APARTMENTS 218 Apartments 0.35%
8. CLAYTON CREEK APARTMENTS 208 Apartments 0.33%
9. HERITAGE TOWERS APARTMENTS 196 Apartments 0.31%
10. ARCADIAN APARTMENTS 192 Apartments 0.31%
10. CONCORD MOBILE HOME PARK 192 Spaces 0.31%
Source: City of Concord Public Works Department
12 MONTHS THROUGH JUNE 30, 2022
Table 1: Ten Largest Users of the Wastewater System
183
City of Concord Joint Powers Financing Authority
Wastewater Revenue Refunding Bonds Series 2012
2018 Wastewater Revenue Refunding Bonds
Table 2: Sewer Rates for Fiscal Year 2021-22
RESIDENTIAL OWNERS
1. Minimum rate for any premises $727.00
2. Each single-family dwelling unit 727.00
3. Each dwelling unit in a multiple dwelling structure 727.00 per unit
4. Mobile Home Park 727.00 per space
COMMERCIAL OWNERS - Charge based upon quantity of water used in cubic feet
1. Minimum rate for any premises $727.00
2. Bowling Alleys 6.43/100 cu. ft.
3. Car Washes 6.43/100 cu. ft.
4. Health Studios and Gymnasiums 6.43/100 cu. ft.
5. Hospitals - Convalescent 6.43/100 cu. ft.
6. Multiple Lodging Structures (hotels, motels and rooming houses) 6.43/100 cu. ft.
7. Laundromats and Laundries 6.43/100 cu. ft.
8. Restaurants 12.78/100 cu. ft.
Restaurants with pretreatment facilities approved annually 7.27/100 cu. ft.
9. Bakeries Determined Individually
10. All others 7.27/100 cu. ft.
INSTITUTIONAL OWNERS
1. Minimum rate for any premises $727.00
2. As defined in Section 110-31, except for Convalescent Hospitals 7.27/100 cu. ft.
INDUSTRIAL OWNERS - Charge based upon quantity of water used and quality of effluent
1. Minimum rate for any premises $727.00
2. Flow/Million Gallons 5,640.00
3. Biochemical Oxygen Demand (B.O.D.) per thousand pounds 1,325.00
4. Suspended Solid (S.S.) per thousand pounds 1,129.00
SPECIAL DISCHARGE PERMITS, AS ISSUED BY THE DISTRICT
1. Charge based upon quantity of water used and quality of effluent Determined Individually SPECIAL CONTRACTUAL AGREEMENT Determined Individually
Source: City of Concord Municipal Code Section 13.05.020. 184
Successor Agency of the Former Redevelopment Agency of the City of Concord (Contra Costa County, California) Tax Allocation Refunding Bonds Series 2014 Table 3: Assessed Valuation by Category of Use
Fiscal Year 2021-22
No. of Parcels Taxable Value % of Total
Commercial 382 1,782,369,100$ 62.5%
Residential 419 538,258,147 18.9%
Industrial 77 126,802,357 4.4%
Other Secured 130 177,709,793 6.2%
Unsecured 960 225,487,311 7.9%
Total 1,968 $2,850,626,708 100%
Source: HDL Coren & Cone
FY2021-22
185
Successor Agency of the Former Redevelopment Agency of the City of Concord (Contra Costa County, California) Tax Allocation Refunding Bonds Series 2014 Table 4: Historic Tax Revenues ($Thousands)
Fiscal Year Ended June 30,
2018 2019 2020 2021 2022
Assessed Value 2,054,198$ 2,323,567$ 2,604,150$ 2,760,139$ 2,850,627$ Base Year Value (339,586) (339,586) (339,586) (339,586) (339,586) Incremental AV 1,714,612 1,983,981 2,264,564 2,420,553 2,511,041 Tax Rate* 1.000% 1.000% 1.000% 1.000% 1.000%
Secured/Unsecured 17,146 19,840 22,646 24,206 25,110
Unitary 850 869 835 849 890
Supplemental / Other 362 226 1,993 428 795
Subtotal Gross Revenue 18,358 20,935 25,474 25,483 26,795 Less: County Admin** (153) (178) (205) (213) (199)
Less: Pass Through** (1,320) (2,245) (2,323) (4,211) (4,661) Net Tax Incr. / RPTTF Revenue 16,885$ 18,512$ 22,946$ 21,059$ 21,935$ Less: Senior Reimb. Agreement (577) (578) 0 0 0
Historic Tax Revenues 16,308$ 17,934$ 22,946$ 21,059$ 21,935$ Note: *Weighted average inclusive of Contra Costa Water Levy applicable to land AV only. **Non-subordinate.
Source: City of Concord Finance Department
Last Five Fiscal Years
186
Successor Agency of the Former Redevelopment Agency of the City of Concord (Contra Costa County, California) Tax Allocation Refunding Bonds Series 2014 Assessed
Value
Property Owner
Number of
Parcels FY2021-22 Secured
FY2021-22
Unsecured Total
% of Total
AV**
% of AV
Incr.**
1. Concord Central LLC 1 $211,766,103 $211,766,103 7.4% 8.4%
2. Renaissance Residential Holding 4 152,630,872 152,630,872 5.4% 6.1%
3. Concord Technology Center Properties 4 150,541,931 150,541,931 5.3% 6.0%
4. Willows Center Concord 2 124,319,171 124,319,171 4.4% 5.0%
5. Sequoia Equities Concord PC LLC 2 120,952,351 120,952,351 4.2% 4.8%
6. Jamestown Concord Technology 2 106,245,912 106,245,912 3.7% 4.2%
7. SPPI Commercial LLC 3 104,927,721 104,927,721 3.7% 4.2%
8. BOF California One Concord Center LLC 3 74,055,526 74,055,526 2.6% 2.9%
9. Seecon Financial and Construction 3 54,061,063 54,061,063 1.9% 2.2%
10. L and L Hospitality Holdings LLC 1 48,999,382 48,999,382 1.7% 2.0% Total Top 10 Taxpayers 25 $1,148,500,032 $0 $1,148,500,032 40.29% 45.74% Note:
**Percentages calculated based on FY2021-22
Total assesssed value of 2,850,626,708
Total Incremental Assessed Value of 2,511,040,890
Source: HDL Coren & Cone
Table 5: Top 10 Taxpayers for Project Area
Fiscal Year 2021-22
187
Successor Agency of the Former Redevelopment Agency of the City of Concord (Contra Costa County, California) Tax Allocation Refunding Bonds Series 2014 Fiscal Year 2021-22
FY2021-22 Appeals
Number of
Filings
County Roll Value
($Millions)
Applicant
Opinion
($Millions)
Estimated/Actual
Resolved Value
($Millions)
Estimated/Actual
Loss Value
($Millions)
% Reduction
Appeals Resolved 5 $31.40 $28.00 $28.00 -$3.69 -12%
Appeals Pending 49 937.5 477.3 892.1 45.4 5%
Total Appeals Filed 54 $968.9 $505.3 $920.1 $41.7 4%
Source: HDL Coren & Cone
Table 6: Assessed Value Appeals for Project Area
188
Successor Agency of the Former Redevelopment Agency of the City of Concord (Contra Costa County, California) Tax Allocation Refunding Bonds Series 2014 Table 7: Projection of Tax Revenues for Debt Services Next 5 Fiscal Years (dollars in thousands)
Year
Ending
6/30
Parcel I Tax
Revenue
Parcel II Tax
Revenue
Parcel IV
Tax
Revenue
Parcel V
Tax
Revenue
Total Centaral
Concord Project
Revenues
Debt Service
Total Concord
Project Tax
Revenues
Debt Sevice
Coverage
2022 8,144 4,922 514 452 14,032 3,145 17,177 4.46x
2023 8,144 4,922 514 452 14,032 3,142 17,174 4.47x
2024 8,144 4,922 514 452 14,032 2,586 16,618 5.43x
2025 8,144 4,922 514 452 14,032 2,583 16,615 5.43x
Source: Keyser Marston Associates, Inc. September 15, 2014 189
CITY OF CONCORD JUNE 30, 2022
190
CITY OF CONCORD
REQUIRED COMMUNICATIONS
FOR THE YEAR ENDED JUNE 30, 2022
Attachment 2
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CITY OF CONCORD
REQUIRED COMMUNICATIONS
For The Year Ended June 30, 2022
Table of Contents
Page
Required Communications ................................................................................................................................ 1
Significant Audit Matters:
Qualitative Aspects of Accounting Practices ................................................................................... 1
Difficulties Encountered in Performing the Audit ........................................................................... 3
Corrected and Uncorrected Misstatements ...................................................................................... 3
Disagreements with Management .................................................................................................... 4
Management Representations ............................................................................................................ 4
Management Consultations with Other Independent Accountants ................................................. 4
Other Audit Findings and Issues ........................................................................................................ 4
Other Ma tters ............................................................................................................................................ 4
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REQUIRED COMMUNICATIONS
To the City Council of
the City of Concord, California
We have audited the basic financial statements of th e City of Concord for the year ended June 30, 2022.
Professional standards require that we provide yo u with information about our responsibilities under generally accepted auditing standards and Government Auditing Standards and the Uniform Guidance, as
well as certain information related to the planned scop e and timing of our audit. We have communicated such information in our separate meetings with the Mayor and City Manager on May 31, 2022 and May 26, 2022, respectively. Professional standards also require that we communi cate to you the following information related to our audit.
Significant Audit Matters
Qualitative Aspects of Accounting Practices
Accounting Policies - Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the City are desc ribed in Note 1 to the financial statements. No new accounting policies were adopt ed, and the application of existing policies was not changed during the year, except the following Go vernmental Accounting Standards Board (GASB) pronouncements became effective:
GASB 87 – Leases
The objective of this Statement is to better me et the information needs of financial statement users by improving accounting and financial reporting for leases by governments. This Statement increases the usefulness of governments’ financial statements by requiring recognition of certain lease assets and liabilities for leases that prev iously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of
the contract. It establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an un derlying asset. Under this Statement, a lessee is required to recognize a lease liability and an inta ngible right-to-use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources, thereby enhancing the relevance and consistency of information about governments’ leasing activities.
A lease is defined as a contract that convey s control of the right to use another entity’s nonfinancial asset (the underlying asset) as specif ied in the contract for a period of time in an exchange or exchange-like transaction. Examples of nonfinancial assets include buildings, land, vehicles, and equipment. Any contract that meets this definition should be accounted for under the leases guidance, unless specifically excluded in this Statement.
The pronouncement became effective, and as disc losed in Note 1 to the financial statements required a prior period restatement for the cumulative effect on the financial statements. 1
GASB 97 – Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—An Amendment of GASB Statements No. 14 and No. 84, and a Supersession of GASB Statement No. 32
The primary objectives of this Statement are to (1) increase consistency and comparability related to the reporting of fiduciary component units in circumstances in whic h a potential component unit does not have a governing board and the pr imary government performs the duties that a governing board typically would perform; (2) miti gate costs associated with the reporting of certain defined contribution pension plans, defined contribution other postemployment benefit (OPEB) plans, and employee benefit plans othe r than pension plans or OPEB plans (other employee benefit plans) as fiduciary component units in fiduciary fund financial statements; and (3) enhance the relevance, consistency, and comparability of the accounting and financial reporting for Internal Revenue Code (IRC) Section 457 deferred compensation plans (Section 457 plans) that meet the definition of a pension plan and for benefits provided through those plans.
The pronouncement became effective, and required revisions to the disclosures related to the City’s deferred compensation plans as disclosed in Note 14 to the financial statements.
The following pronouncements became effective, but did not have a ma terial effect on the financial statements:
GASB 89 – Accounting for Interest Cost Incurred before the End of a Construction Period GASB 90 – Majority Equity Interests (an amendment of GASB Statements No. 14 and No. 61) GASB 92 – Omnibus 2020
GASB 93 – Replacement of Interbank Offered Rates
GASB 99 – Omnibus 2022 (paragraphs 26-32)
Unusual Transactions, Controversial or Emerging Areas - We noted no transactions entered into by the City during the year for which ther e is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period.
Accounting Estimates - 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 beca use of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the City’s financial statements were:
Estimated Fair Value of Investments: As of June 30, 2022, the City held approximately $431.4 million of cash and investments as measured by fa ir value as disclosed in Note 3 to the financial statements. Fair value is essentially market pric ing in effect as of June 30, 2022. These fair values are not required to be adjusted for changes in general market conditions occurring subsequent to June 30, 2022.
Estimate of Depreciation: Management’s estimate of the depreci ation is based on useful lives determined by management. These lives have been determined by management based on the expected useful life of assets as disclosed in Note 1 to the financial statements. We evaluated the key factors and assumptions used to develop the depreciation estima te in determining that it is reasonable in relation to the basic financial statements taken as a whole. 2
Estimate of Compensated Absences: Accrued compensated absences which are comprised of accrued vacation, holiday, and certain other comp ensating time is estimated using accumulated unpaid leave hours and hourly pay rates in effect at the end of the fiscal year as disclosed in Note 7 to the financial statements. We evaluated the key factors and assumptions used to develop the accrued compensated absences in determining that it is reasonable in relation to the basic financial statements taken as a whole.
Estimated Claims Liabilities: Management’s estimate of th e claims liabilities payable is disclosed in Note 16 to the financial statements and is based on actuarial studies determined by a consultant, which are based on the claims experien ce of the City. We evaluated the key factors and assumptions used to develop the estimate in determining that it is reasonable in relation to the basic financial statements taken as a whole.
Estimated Net Pension Liabilities and Pensi on-Related Deferred Outflows and Inflows of Resources: Management’s estimate of the net pension liabilities and deferred outflows/inflows of resources are disclosed in Notes 10, 11 and 12 to the financial statements and are based on actuarial studies determined by a consultant and accounting va luations determined by the California Public Employees Retirement System, wh ich are based on the experience of the City.
We evaluated the key factors and assumptions used to develop the estimate in determining that it is reasonable in relation to the basic financial statements taken as a whole.
Estimated Net OPEB Liability: Management’s estimate of the net OPEB liability is disclosed in Note 13 to the financial statements and is base d on actuarial study determined by a consultant, which is based on the experience of the City. We evaluated the key factors and assumptions used to develop the estimate in determining that it is reasonable in relation to the basic financial statements taken as a whole.
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 clearly trivial, and communicate them to the appropriate level of management. Management has corrected all such miss tatements. In addition, none of the misstatements detected as a result of audit procedures and corrected by management were material, either individually or in the aggregate, to each opinion unit’s financial statem ents taken as a whole, except for the post-closing entry to record the unearned revenue of $7,852,496 related to the unspent American Rescue Plan Act Coronavirus State and Local Fiscal Recovery Funds.
Professional standards require us to accumulate all known and likely uncorrected misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. We have no such misstatements to report to the City Council.
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Disagreements with Management
For purposes of this letter, a disagreement with ma nagement is a financial acc ounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during the course of our audit.
Management Representations
We have requested certain representations from ma nagement that are incl uded in a management representation letter dated December 29, 2022.
Management Consultations with Other Independent Accountants
In some cases, management may d ecide to consult with other account ants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the City’s fi nancial statements or a dete rmination of the type of auditor’s opinion that may be expr essed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant ha s 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 the City’s auditors. However, these discussions occurred in the normal course of our pr ofessional relationship and our responses were not a condition to our retention.
Other Matters
We applied certain limited procedures to the requir ed supplementary information that accompanies and supplements the basic financial st atements. 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 required supplementary information and do not express an opinion or provide any assurance on the required supplementary information.
We were engaged to report on the supplementary information that accompanies the financial statements, but is not required supplementary information. With respect to this supplementary information, we made certain inquiries of management and evaluated th e 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 to the financial statements themselves.
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We were not engaged to report on the Introductory and Statistical Sections which accompany the financial statements, but are not required supplementary information. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on them.
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This information is intended solely for the use of City Council and management and is not intended to be, and should not be, used by anyone other than these specified parties.
Pleasant Hill, California
December 29, 2022
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Staff Report
Date: January 24, 2023
To: City Council
From: Valerie J. Barone, City Manager
Reviewed by: Kevin Marstall, PE, Director of Community Development Carlton Thompson, PE, City Engineer
Bernard Enrile, PE, CIP Manager
Prepared by: Kevin Wheat, PE, Associate Civil Engineer
[email protected]
(925) 671-3422
Subject: Considering the following:
1. Award of a construction contract in the amount of
$1,539,953.50 to Bay Pacific Pipelines, Inc. for the Whitman Road Sanitary Sewer Improvements Project (Project No.
2513) on Whitman Road from Oak Grove Road to Gaylord
Place; authorizing Staff to utilize the available project contingency for contract change orders that become
necessary up to 15% of the contract amount; and
authorizing the Mayor to execute the contract in a form acceptable to the City Attorney.
2. Approval of a task order with Ghirardelli Associates in the amount of $231,087.33 (base agreement of $210,079.39 plus staff authority to spend up to a 10% contingency of
$21,007.94) to provide construction management,
inspection, and materials testing services for the Whitman Road Sanitary Sewer Improvements Project (Project No.
2513) on Whitman Road from Oak Grove Road to Gaylord
Place; and authorizing the City Manager to execute the
agreement in a form acceptable to the City Attorney.
CEQA: Not a project/exempt per CEQA Guidelines Sections 15301, 15302, and 15304.
7.c7.c7.c
City Council Agenda Report
Agenda Item No. 7.c
January 24, 2023
Report in Brief
The Whitman Road Sanitary Sewer Improvements Project (City Project No. 2513) consists of mobilization, traffic control, storm water pollution control, clearing and grubbing, tree trimming, bypass pumping of sanitary sewer flows, open trench replacement of sanitary sewer mains, lateral reconnections, maintenance access hole rehabilitation, pavement rehabilitation, utility cover lowering and restoring to grade, survey monument reinstallation, ADA ramp construction, and traffic striping. The project location is on Whitman Road between Oak Grove Road and Gaylord Place. See attached location map for project limits (Attachment 1).
The project has been designed, competitively bid (see Attachment 2 for bid summary), and is now at the point of construction contract award. If award of the construction and construction management contract is approved by the City Council, construction is expected to begin April 2023 and be completed in September 2023, weather permitting.
Construction management, inspection, and materials testing services are needed to ensure work during construction by the Contractor is performed and completed in a manner satisfactory to the project contract documents and the City of Concord.
Recommended Action
1) Award of a construction contract in the amount of $1,539,953.50 to Bay Pacific Pipelines, Inc. for the Whitman Road Sanitary Sewer Improvements Project (Project No. 2513); authorizing Staff to utilize the available project contingency for contract change orders that become necessary up to 15% of the contract amount; and authorizing the Mayor to execute the contract in a form acceptable to the City Attorney, and make the CEQA determinations as provided in this staff report.
2) Approval of a task order with Ghirardelli Associates in the amount of $231,087.33 (base agreement of $210,079.39 plus staff authority to spend up to a 10% contingency of $21,007.94) to provide construction management, inspection, and materials testing services for the Whitman Road Sanitary Sewer Improvements Project (Project No. 2513); and authorizing the City Manager to execute the agreement in a form acceptable to the City Attorney.
Background
In August 2019, a sewer condition assessment study was completed in the residential neighborhood bordered by Whitman Road on the north, Oak Grove Road on the east, and David Avenue on the south. The assessment study provided recommendations and preliminary cost estimates for sewer improvements in the area, including a sewer line that was in need of an upsize at Whitman Road. The assessment study also generated a report to improve sewer infrastructure so as to reduce long term maintenance costs.
City Council Agenda Report
Agenda Item No. 7.c
January 24, 2023
On June 2, 2020, City Council adopted the CIP Budget for Fiscal Years 2020-21 and 2021-22, which included funding the design of Whitman Road Sanitary Sewer Improvements (Project No. 2513) for Fiscal Year 2021-22 in the amount of $221,000.
On November 2, 2021, City Council approved a Professional Services Agreement with Bellecci and Associates for design engineering and related services for Whitman Road Sanitary Sewer Improvements (Project No. 2513). Design was completed in September 2022 and the project was advertised for bids in November 2022.
On September 13, 2016, the City Council approved a Citywide Project Stabilization Agreement with the Contra Costa Building & Construction Trades Council for projects with a construction contract valued at over $750,000. This project includes this provision.
Analysis/Procurement Process
Construction Contract:
The project was advertised for construction bids as required by State law and City policy. The Engineer’s Estimate for the Total Bid is $2,500,000. Bids were opened on December 15, 2022. Seven (7) bids were received in the amount ranging from $1,539,953.50 to $2,517,165.00. The basis of award for this project is the Base Bid. The lowest bid was received from Bay Pacific Pipelines, Inc. of Novato, CA. A summary of the bids can be found in Attachment 2 – PJ 2513 Bid Summary.
Bay Pacific Pipelines, Inc. was the low bidder and submitted a responsive and responsible bid. Bay Pacific Pipelines, Inc. has an appropriate and valid contractor’s license and satisfactory work references. Staff completed analysis of Bay Pacific Pipelines, Inc.’s bid, determining that this firm along with its subcontractors possess appropriate and valid licenses, are not on any debarred lists, and agreed to be bound by the Citywide Project Stabilization Agreement. Bay Pacific Pipelines, Inc. is registered with the Department of Industrial Relations as required by SB 854. City staff has determined there are sufficient funds to award the base bid construction contract.
Construction Management
Staff requested a Task Order proposal from Ghirardelli Associates for construction management and inspection services for the Whitman Road Sanitary Sewer Improvements Project. Ghirardelli Associates is on the City’s Master Service Agreement (MSA) as a consultant for construction management and inspection services.
Staff negotiated and agreed upon $210,079.39 as a fair and reasonable compensation for the services needed to complete the construction phase of the project. As the Task Order is over $75,000, Council approval is required.
City Council Agenda Report
Agenda Item No. 7.c
January 24, 2023
Ghirardelli Associates has extensive experience with the City, and recently performed construction management and inspection services for the Diamond Blvd/Willow Pass Road Sewer Repair Project (City Project No. 2554) that was completed in spring 2021.
Financial Impact
The current total budget for this project is $2,721,000 (Sewer Fund 710).
There are currently sufficient funds to award the construction contract and the task order for construction management, inspection and materials testing services.
Environmental Determination
Pursuant to CEQA Guidelines Sections 15060 (c), 15061 (b)(3), 15273, 15378, and Public Resources Code Section 21065, award of this contract is not subject to environmental review under the California Environmental Quality Act (CEQA) of 1970, as amended, as it will not result in a direct or reasonably foreseeable indirect physical change in the environment. In the alternative, award of this contract is exempt under CEQA Guidelines Sections 15301 – Existing Facilities, 15302 – Replacement and Reconstruction, and 15304 – Minor Alterations to Land. No unusual circumstances exist and none of the exceptions under CEQA Guidelines Section 15300.2 applies. This determination reflects the City’s independent judgement and analysis. The Notice of Exemption will be filed with the County Clerk’s office following the Council award of the construction contract.
Public Contact
The City Council Agenda was posted.
Attachments
1. Project Location Map
2. PJ 2513 – Bid Summary
ATTACHMENT 1
Project Location Map
Whitman Road Sanitary Sewer Improvements
City Project No. 2513
PROJECT SITE
City of Concord
Bid Sheet
PROJECT #2513 Bid Opening:
Whitman Road Sanitary Sewer
Improvements
Thursday,
December 15, 2022
2:00 p.m.
City Manager's Conference Room
Engineer’s Estimate: $2,500,000 To be awarded:
COMPANY TOTAL BID
Bay Pacific Pipeline, Inc
P.O. Box 1162
Novato, CA 94948
$1,539,953.50
Argonaut Constructors
P.O. Box 639 – 360 Sutton Place
Santa Rosa, CA 95402
$1,910,000.00
TerraCon Constructors, Inc.
150 Alexander Valley Rd.
Healdsburg, CA 95448
$2,119,697.00
Ghilotti Bros., Inc
525 Jacoby Street
San Rafael, CA 94901
$2,159,871.00
Kerex Engineering
P.O. Box 23831
Pleasant Hill, CA 94523
$2,262,700.00
McGuire Hester
2810 Harbor Bay Parkway
Alameda, CA 94502
$2,406,027.00
Cratus Inc.
945 Taraval Street #302
San Francisco, CA 94116
$2,517,165.00
Co
ntact: Kevin Wheat x3422
Attachment 2
Staff Report
Date: January 24, 2023
To: City Council
From: Valerie J. Barone, City Manager
Reviewed by: Kevin Marstall, PE, Director of Community Development Carlton Thompson, PE, City Engineer
Bernard Enrile, PE, CIP Manager
Prepared by: Justin Bosch, PE, Associate Civil Engineer [email protected]
(925) 671-5008
Subject: Considering approval of an Agreement for Professional Services with Bellecci & Associates, Inc. in the not-to-exceed amount of $118,243.40 (base agreement of $107,494 plus staff authority to spend up to a 10% contingency of $10,749.40) to provide design engineering and related services for Alberta Way Pavement Rehabilitation (Project No. 2615) located on Alberta Way between Ygnacio Valley Road and Clayton Road; and authorizing the City Manager to execute the agreement in a form acceptable to the City Attorney.
For detailed locations see Attachment 1 to the staff report.
CEQA: Not a project/exempt per CEQA Guidelines Sections 15060(c), 15061(b)(3), 15378, 15262, and/or Public Resources Code Section 21065.
Report in Brief
Alberta Way Pavement Rehabilitation (Project No. 2615) will rehabilitate pavement on Alberta Way between Ygnacio Valley Road and Clayton Road (please see Attachment 1 for a detailed map).
7.d7.d7.d7.d
City Council Agenda Report
Agenda Item No. 7.d
January 24, 2023
Engineering design services are needed to initiate project design and to develop plans, specifications, and construction cost estimates. After the completion of a competitive selection process, staff recommends Bellecci & Associates, Inc. (Bellecci) to provide design engineering services for Project No. 2615. Bellecci has extensive experience in the design of pavement improvement projects.
Recommended Action
Approve an Agreement for Professional Services with Bellecci & Associates, Inc. in the not-to-exceed amount of $118,243.40 (base agreement of $107,494 plus staff authority to spend up to a 10% contingency of $10,749.40) to provide design engineering and related services for Alberta Way Pavement Rehabilitation (Project No. 2615) located on Alberta Way between Ygnacio Valley Road and Clayton Road, authorize the City Manager to execute the agreement in a form acceptable to the City Attorney, and make the CEQA determinations as provided in this staff report.
Background
On June 1, 2021, the City Council approved an updated Five-Year Pavement Expenditure plan (5-Year Plan). The Alberta Way Pavement Rehabilitation (Project No. 2615) project will rehabilitate pavement in Alberta Way between Ygnacio Valley Road and Clayton Road and will begin construction in April 2024. Work will also include concrete curb ramps, monument preservation, adjustment of utilities, signage, and pavement striping restoration.
On June 8, 2021, City Council approved a mid-cycle update to the Capital Improvement Program (CIP) Budget for Fiscal Years 2020-21 and 2021-22, which included funding the design of the following project portion under Alberta Way Pavement Rehabilitation:
Alberta Way Pavement Rehabilitation (Project No. 2615) will focus on pavement treatments in a residential area on Alberta Way between Ygnacio Valley Road and Clayton Road. Treatments such as Full-Depth Reclamation (FDR), Cold In- Place Recycling (CIR), and related treatments are to be considered, as well as curb ramp improvements. The project design is funded for Fiscal Year 2022-23 with $268,000 of 2021 Debt Issuance Measure V (Fund 407) funds and for Fiscal Year 2023-24 with $940,000 of Measure J 28(a) (Fund 485) funds.
Analysis
Recognizing the unique funding opportunity provided by the Measure V Investment Plan, staff recommended prioritizing the design of the arterial pavement maintenance project to facilitate construction ahead of the scheduled years as identified in the Five- Year Pavement Expenditure Plan (5-Year Plan). According to the 5-Year Plan, this arterial paving was programmed for funding in Year 5 (Fiscal Year 2025-26). However, to accelerate the investment of Measure V into pavement rehabilitation and begin construction two years earlier, Alberta Way was advanced from Year 5 to be immediately funded for design.
City Council Agenda Report
Agenda Item No. 7.d
January 24, 2023
This advanced funding strategy by staff will continue to be recommended through the next Two-Year Capital Improvement Program (CIP) Budget, providing fully designed and shovel-ready residential paving projects, that allows adjustment of construction timing to coordinate with utility main replacements, maximizes opportunities to receive competitive bid pricing, and accelerates completion of pavement repair citywide.
Engineering design services are needed to initiate the design of each project, select the appropriate pavement treatment, and to develop project plans, specifications, and final construction cost estimates. Limits of pavement work may be adjusted in order to construct improvements within budget, based on final cost estimates and field review during design.
The preliminary schedule calls for design to begin in March 2023 and to be completed in November 2023. Following design, staff will advertise for construction bids. Construction is anticipated for April 2024.
Procurement Process
Staff issued a Request for Proposal (RFP) for design engineering and related services on October 20, 2022, for Alberta Way Pavement Rehabilitation (Project No. 2615). The RFP was advertised in the local newspaper and the City’s Procurement Website. One proposal was received, which was reviewed by the selection committee comprised of City staff from Engineering Services.
Based on the analysis of the proposal and references, Bellecci & Associates, Inc. (Bellecci) was selected as the most qualified firm to provide design engineering and related services for Alberta Way Pavement Rehabilitation (Project No. 2615). City staff and Bellecci negotiated the scope of work, and cost for the services, and agreed upon a combined $168,020 as fair and reasonable compensation for the services needed to complete the design phase of the project.
Financial Impact
There are enough funds in the budget for the design phase of Alberta Way Pavement Rehabilitation (Project No. 2615). The project consist of Debt Issuance Measure V (Fund 407) and Measure J 28(a) (Fund 485).
For Project No. 2615, all funds for design are currently available with remaining construction funds available in Fiscal Year 2023-24.
Environmental Determination
Pursuant to CEQA Guidelines Sections 15060(c), 15061(b)(3), 15262 (Feasibility and Planning Studies),15378, and/or Public Resources Code Section 21065, the City Council action of awarding of the above-referenced Professional Services Agreements is not subject to environmental review under the California Environmental Quality Act (CEQA) of 1970, as amended, as it does not constitute a “project,” does not commit the
City Council Agenda Report
Agenda Item No. 7.d
January 24, 2023
City to a definite course of action, does not constitute discretionary approval of a specific project, and will not result in a direct or reasonably foreseeable indirect physical change in the environment, and in the alternative is exempt from CEQA. No unusual circumstances exist and none of the exceptions under CEQA Guidelines Section 15300.2 apply. This determination reflects the City’s independent judgment and analysis. Individual projects will undergo CEQA analysis as necessary.
Public Contact
The City Council Agenda was posted.
Attachments
1. Project Location Maps
2. Professional Services Agreement with Bellecci & Associates, Inc. for Alberta Way Pavement Rehabilitation (Project No. 2615) with Exhibit A, Fee Estimate
Attachment 1
Project Location Map
Alberta Way Pavement Rehabilitation
City Project No. 2615
PJ 2615
Project Location Map
Pavement Rehabilitation – Alberta Way
AGREEMENT FOR PROFESSIONAL SERVICES
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28 THIS AGREEMENT (“Agreement”) is entered into on January 24, 2023 between the City of Concord (“CITY”) and Bellecci & Associates, Inc, 2290 Diamond Blvd, Suite 100, Concord, Ca 94520 (“CONSULTANT”).
THE PARTIES ENTER THIS AGREEMENT based upon the following facts, understandings, and intentions:
The CITY desires to contract with CONSULTANT to provide the professional services described in Section 2 of this Agreement, upon the terms and conditions hereinafter set forth.
NOW, THEREFORE, IN CONSIDERATION of the mutual covenants and promises of the parties herein contained, the parties hereto agree as follows:
1. TERM. This Agreement shall commence on January 24, 2023, and expire on June 30, 2024.
2. SCOPE OF SERVICES. Subject to such policy direction and approvals provided by the CITY's Authorized Representative, CONSULTANT shall provide consulting services for Alberta Way Pavement Rehabilitation, , Project No. 2615 described in detail in Exhibit A, a proposal from Bellecci & Associates dated November 17, 2022, attached hereto and made a part hereof. CITY retains all rights of approval and discretion with respect to the projects and undertakings contemplated by this Agreement.
3. PAYMENT. The compensation to be paid to CONSULTANT including payment for professional services and reimbursable expenses, shall be at the rate and schedules in detail in Exhibit A. However, in no event shall the amount CITY pays CONSULTANT exceed one-hundred eighteen thousand two-hundred forty-three dollars and forty cents ($118,243.40) for the term of this Agreement.
The total includes the sum of the base contract of one-hundred seven thousand four-hundred ninety-four dollars ($107,494.00) and a 10% contingency of ten-thousand seven hundred forty-nine dollars and forty cents ($10,749.40). Any Amendment to this Agreement that includes an increase to this compensation amount shall be made in accordance with Section 5 below.
CONSULTANT may submit monthly statements for services rendered; all statements shall include adequate documentation demonstrating work performed during the billing period. It is intended that CITY review such statement and pay CONSULTANT for services rendered within 30 days of Attachment 2
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28 receipt of a statement that meets all requirements of this Agreement. Payment by CITY shall not be deemed a waiver of unsatisfactory work, even if such defects were known to the CITY at the time of payment.
4. AUTHORIZED REPRESENTATIVES. Authorized representatives shall represent CITY and CONSULTANT in all matters pertaining to the services to be ordered by CITY or rendered by CONSULTANT under this Agreement except where approval for the CITY is specifically required by the City Council. The CITY’s authorized representative is Carlton Thompson, City Engineer of the Community Development Department. The CONSULTANT’s authorized representative is Robert Broestl, Principal-in-Charge.
5. AMENDMENT TO AGREEMENT. This Agreement may be amended in writing, subject to approval by both parties. If additional services are requested by CITY other than as described in the above Scope of Services, this Agreement may be amended, modified, or changed by the parties subject to mutual consent and in accordance with the CITY’s Municipal Code by execution of an Amendment by authorized representatives of both parties setting forth the additional scope of services to be performed, the performance time schedule, and the compensation for such services.
A. Amendment for Additional Compensation. CITY’s Authorized Representative is authorized to execute amendments to the Agreement on behalf of CITY, including amendments providing for additional compensation to CONSULTANT not to exceed the Minimum Threshold, including the base contract amount, throughout the term of this Agreement. “Minimum Threshold” means the dollar amount over which Council approval is required during each fiscal year as set forth in Concord City Council Resolution 21-43 pursuant to Concord Municipal Code Section
3.10.040(a). The Minimum Threshold for Fiscal Year 2022-23 is $80,000 and increases by $5,000 each subsequent fiscal year such that by Fiscal Year 2026-27 the Minimum Threshold is $100,000. Any additional compensation to CONSULTANT that is greater than the Minimum Threshold, including the base contract amount, must be approved by City Council. CONSULTANT’s failure to secure CITY’s written authorization for additional compensation or changes to the Scope of Work shall constitute a waiver of any and all right to adjustment in the price or time due, whether by way of compensation,
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28 restitution, quantum merit, or similar relief.
6. INDEPENDENT CONTRACTOR. Both parties understand and acknowledge that CONSULTANT, its agents, employers and subcontractors are and shall at all times remain as to the CITY wholly independent contractors. Neither the CITY nor any of its officers or employees shall have any control over the manner by which the CONSULTANT performs this Agreement and shall only dictate the results of the performance. CONSULTANT shall not represent that CONSULTANT or its agents, employees or subcontractors are agents or employees of the CITY, and CONSULTANT shall have no authority, express or implied, to act on behalf of the CITY in any capacity whatsoever as an agent, and shall have no authority, express or implied, to bind the CITY to any obligation whatsoever, unless otherwise provided in this Agreement.
As an independent contractor, CONSULTANT shall not be eligible for any benefits, which the City may provide to its employees and all persons, if any, hired by CONSULTANT shall be employees or subcontractors of CONSULTANT and shall not be construed as employees or agents of the CITY in any respect. CONSULTANT shall receive no premium or enhanced pay for work normally understood as overtime, i.e., hours that exceed forty (40) hours per work week, or work performed during non- standard business hours, such as in the evenings or on weekends. CONSULTANT shall not receive a premium or enhanced pay for work performed on a recognized holiday. CONSULTANT shall not receive paid time off for days not worked, whether it be in the form of sick leave, administrative leave, or for any other form of absence. CONSULTANT shall pay all taxes, assessments and premiums under the federal Social Security Act, any applicable unemployment insurance contributions, Workers Compensation insurance premiums, sales taxes, use taxes, personal property taxes, or other taxes or assessments now or hereafter in effect and payable by reason of or in connection with the services to be performed by CONSULTANT.
7. STANDARD OF PERFORMANCE. CONSULTANT represents and warrants to CITY that CONSULTANT is skilled and able to provide such services described in the Scope of Work and that such services shall be performed in an expeditious manner, and with the degree of skill and care that is required by current, good, and sound procedures and practices. CONSULTANT further
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8. PERFORMANCE BY CONSULTANT. CONSULTANT shall not employ other consultants, subconsultants, experts, or contractors without the prior written approval of the CITY.
Notwithstanding the foregoing, CITY shall not be obligated or liable for payment hereunder to any party other than the CONSULTANT. CONSULTANT hereby designates the CONSULTANT’S representative as the person primarily responsible for the day-to-day performance of CONSULTANT'S work under this Agreement. CONSULTANT shall not change the CONSULTANT’S representative without the prior written consent of the CITY. Unless otherwise expressly agreed by the CITY, CONSULTANT'S representative shall remain responsible for the quality and timeliness of performance of the services, notwithstanding any permitted or approved delegation hereunder.
9. OWNERSHIP AND MAINTENANCE OF DOCUMENTS. All documents furnished by CONSULTANT pursuant to this Agreement are instruments of CONSULTANT’s services in respect to this project. They are not intended nor are represented to be suitable for reuse by others except CITY on extensions of this project or on any other project. Any reuse without specific written verification and adoption by CONSULTANT for the specific purposes intended will be at user’s sole risk and without liability or legal exposure and expenses to CONSULTANT, including attorney’s fees arising out of such unauthorized reuse.
CONSULTANT’s records, documents, calculations, and all other instruments of service pertaining to actual project shall be given to CITY at the completion of the project. The CITY reserves the right to specify the file format that electronic document deliverables are presented to the CITY.
Title to all plans, specifications, maps, estimates, reports, manuscripts, drawings, descriptions and other final work products compiled by the CONSULTANT under the Agreement shall be vested in the CITY, none of which shall be used in any manner whatsoever, by any person, firm, corporation, or agency without the expressed written consent of the CITY. Basic survey notes and sketches, charts, computations, and other data prepared or obtained under the Agreement shall be made available, upon request, to the CITY without restriction or limitations on their use. CONSULTANT may retain copies
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28 of the above-described information but agrees not to disclose or discuss any information gathered, discussed or generated in any way through this Agreement without the written permission of CITY during the term of this Agreement, unless required by law.
10. INDEMNIFICATION.
A. For Design Professional Services Only. Pursuant to California Civil Code Section 2782.8, CONSULTANT agrees to indemnify the CITY (including its officers, agents, employees and volunteers) against liability for claims against the CITY that arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of CONSULTANT in the performance of this Agreement. The CONSULTANT will reimburse the CITY for any expenditures, including reasonable attorney fees, incurred by the CITY in defending against claims ultimately determined to arise out of, pertain to, or relate to the negligence, recklessness, or willful misconduct of the CONSULTANT.
B. For All Other Services. CONSULTANT agrees to defend, indemnify and hold harmless the CITY (including its officers, officials, employees, agents and volunteers) from and against all claims, demands, actions, losses, damages, injuries, and liability (including all attorney’s fees and other litigation expenses) arising out of the CONSULTANT’s performance under the terms of this Agreement. This indemnification obligation on CONSULTANT’s part shall not apply to the demands, actions, losses, damages, injuries, and liability arising out of the sole negligence or willful misconduct on the part of the CITY.
11. INSURANCE. CONSULTANT shall, at its own expense, procure and maintain in full force at all times during the term of this Agreement the following insurance:
A. Commercial General Liability Coverage. CONSULTANT shall maintain commercial general liability insurance with limits of no less than one million dollars ($1,000,000) combined single limit per occurrence or two million dollars ($2,000,000) aggregate limit for bodily injury, personal injury, and property damage.
B. Automobile Liability Coverage. CONSULTANT shall maintain automobile liability insurance covering all vehicles used in the performance of this Agreement providing a one
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28 million dollar ($1,000,000) combined single limit per occurrence for bodily injury, personal injury, and property damage.
C. Professional Liability Coverage (Errors and Omissions). CONSULTANT shall maintain professional liability insurance with coverage for all negligent errors, acts or omissions committed by CONSULTANT, its agents and employees in the performance of this Agreement. The amount of this insurance shall be not less than one million dollars ($1,000,000) on a claims made annual aggregate basis or a combined single limit per occurrence basis.
D. Compliance with State Workers' Compensation Requirements.
CONSULTANT covenants that it will insure itself against liability for Workers' Compensation pursuant to the provisions of California Labor Code §3700, et seq. CONSULTANT shall, at all times, upon demand of the City, furnish proof that Workers' Compensation Insurance is being maintained by it in force and effect in accordance with the California Labor Code. The insurer shall also agree to waive all rights of subrogation against the CITY, its officers, officials, employees and volunteers for losses arising from work performed by CONSULTANT for CITY. This provision shall not apply upon written verification by CONSULTANT that CONSULTANT has no employees.
E. Other Insurance Provisions. The policies are to contain, or be endorsed to contain the following provisions:
(1) Additional Insured. CITY, its officers, agents, employees, and volunteers are to be covered as an additional insured as respects: Liability arising out of activities performed by or on behalf of CONSULTANT and operations of CONSULTANT, premises owned, occupied, or used by CONSULTANT. The coverage shall contain no special limitations on the scope or protection afforded to CITY, its officers, officials, employees, or volunteers.
Except for worker's compensation and professional liability insurance, the policies mentioned in this subsection shall name CITY as an additional insured and provide for notice of cancellation to CITY. CONSULTANT shall also provide timely and prompt notice to CITY if CONSULTANT receives any notice of cancellation or nonrenewal from its insurer. (2) Primary Coverage. CONSULTANT'S insurance coverage shall be
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28 primary insurance with respect to CITY, its officers, officials, employees, and volunteers. Any insurance, risk pooling arrangement, or self-insurance maintained by CITY, its officers, officials, employees, or volunteers shall be in excess of CONSULTANT'S insurance and shall not contribute with it.
(3) Reporting Provisions. Any failure to comply with the reporting provisions of the policy shall not affect the coverage provided to the CITY, its officers, officials, employees, or volunteers.
(4) Verification of Coverage. CONSULTANT shall furnish CITY with certificates of insurance and the original endorsements effecting coverage required by this Agreement.
The certificates and endorsements for each insurance policy are to be signed by a person authorized by that insurer to bind coverage on its behalf. The aforementioned policies shall be issued by an insurance carrier having a rating of Best A-7 or better which is satisfactory to the City Attorney and shall be delivered to CITY at the time of the execution of this Agreement or before work commences. Such policies and certificates shall be in a form approved by the City Attorney. CITY reserves the right to require complete certified copies of all required insurance policies at any time.
12. TIME OF PERFORMANCE. The time of performance of the services under this Agreement is of the essence, and all time deadlines identified in this Agreement or Scope of Services shall be strictly construed.
13. SUSPENSION OF WORK. CITY may, at any time, by ten (10) days’ written notice, suspend further performance by CONSULTANT. All suspensions shall extend the time schedule for performance in a mutually satisfactory manner, and CONSULTANT shall be paid for services performed and reimbursable expenses incurred prior to the suspension date. During the period of suspension, CONSULTANT shall not receive any payment for services, or expenses, except for reasonable administration expenses, incurred by CONSULTANT by reason of such suspension.
14. TERMINATION. CITY may terminate this Agreement for any reason upon ten (10) days written notice to the other party. CITY may terminate the Agreement upon five (5) days written notice if CONSULTANT breaches this Agreement. In the event of any termination, CONSULTANT
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15. COMPLIANCE WITH CIVIL RIGHTS. During the performance of this contract, CONSULTANT agrees as follows:
A. Equal Employment Opportunity. In connection with the execution of this Agreement, CONSULTANT shall not discriminate against any employee or applicant for employment because of race, religion, color, sex, or national origin. Such actions shall include, but not be limited to, the following: employment, promotion, upgrading, demotion, or transfer; recruitment or recruitment advertising; layoff or termination; rate of pay or other forms of compensation; and selection for training including apprenticeship.
B. Nondiscrimination Civil Rights Act of 1964. CONSULTANT will comply with all federal regulations relative to nondiscrimination in federally assisted programs.
C. Solicitations for Subcontractors including Procurement of Materials and Equipment. In all solicitation, either by competitive bidding or negotiations, made by CONSULTANT for work to be performed under a subcontract including procurement of materials or leases of equipment, each potential subcontractor, supplier or lessor shall be notified by CONSULTANT of CONSULTANT’S obligation under this Agreement and the regulations relative to nondiscrimination on the grounds of race, religion, color, sex, or national origin.
16. CONFLICT OF INTEREST.
A. CONSULTANT covenants and represents that neither it, nor any officer or principal of its firm, has, or shall acquire any interest, directly or indirectly, which would conflict in any manner with the interests of CITY or which would in any way hinder CONSULTANT’s performance of services under this Agreement. CONSULTANT further covenants that in the performance of the Agreement, no person having any such interest shall be employed by it as an officer, employee, agent
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28 or subcontractor without the express written consent of the CITY. CONSULTANT agrees to at all times avoid conflicts of interest, or the appearance of any conflicts of interest, with the interests of the CITY in the performance of this Agreement.
B. CONSULTANT is not a designated employee within the meaning of the Political Reform Act because CONSULTANT:
(1) Will conduct research and arrive at conclusions with respect to its rendition of information, advice, recommendation or counsel independent of the control and direction of the CITY or of any CITY official, other than normal contract monitoring; and (2) Possesses no authority with respect to any CITY decision beyond the rendition of information, advice, recommendation or counsel. (2 Cal. Code Regs. § 18700(a)(2).)
17. COMPLIANCE WITH LAWS. CONSULTANT shall comply with all applicable Federal, State of California, and local laws, rules, and regulations and shall obtain all applicable licenses, including a business license with the City of Concord, and permits for the conduct of its business and the performance of the services. CONSULTANT shall ensure that all of its officers, employees, agents, and subcontractors who: (i) enter CITY premises in connection with the services to be performed by CONSULTANT hereunder, and/or (ii) have in-person contact with CITY officers, officials, employees, subcontractors, agents, and volunteers, and/or members of the public, in connection with the services to be performed by CONSULTANT hereunder, comply with all applicable Federal, State of California, Contra Costa County, and local laws, rules, and regulations, whichever is the most restrictive, regarding COVID-19 or similar public health matters, including regarding vaccinations, testing, reporting, social distancing, social gathering, mask wearing, and associated requirements.
18. CHOICE OF LAW. This Agreement shall be construed and interpreted in accordance with the laws of the State of California, excluding any choice of law rules which may direct the application of the laws of another jurisdiction. In the event that suit shall be brought by either party hereunder, the parties agree that trial of such action shall be held exclusively in a state court in the County of Contra Costa, California.
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28 19. NON-WAIVER. The waiver by either party of any breach of any term, covenant, or condition contained in the Agreement, or any default in their performance of any obligations under the Agreement shall not be deemed to be a waiver of any other breach or default of the same or any other term, covenant, condition, or obligation, nor shall any waiver of any incident of breach of default constitute a continuing waiver of same.
20. ENFORCEABILITY; INTERPRETATION. In the event that any of the provisions or portions of application of any of the provisions of the Agreement are held to be illegal or invalid by a court of competent jurisdiction, CITY and CONSULTANT shall negotiate an equitable adjustment in the provisions of the Agreement with a view toward affecting the purpose of the Agreement. The illegality or invalidity of any of the provisions or portions of application of any of the provisions of the Agreement shall not affect the legality or enforceability of the remaining provisions or portions of application of any of the provisions of the Agreement. This Agreement shall be interpreted as though it was a product of a joint drafting effort and no provisions shall be interpreted against a party on the ground that said party was solely or primarily responsible for drafting the language to be interpreted.
21. INTEGRATION. All exhibits identified in this Agreement are attached hereto and incorporated herein by reference. The Agreement contains the entire agreement and understanding between the parties as to the subject matter of this Agreement. It merges and supersedes all prior or contemporaneous agreements, commitments, representation, writings, and discussions between CONSULTANT and CITY, whether oral or written.
22. SUCCESSORS AND ASSIGNS: NO THIRD PARTY BENEFICIARIES; NO JOINT VENTURE. CITY and CONSULTANT respectively, bind themselves, their successors, assigns, and legal representatives to the terms and obligations of this Agreement. CONSULTANT shall not assign or transfer any interest in the Agreement without the CITY's prior written consent, which consent shall be in the CITY’s sole discretion. Any attempted assignment or transfer in breach of this provision shall be void. This Agreement is not intended and shall not be construed to create any third party benefit. This Agreement is not intended and shall not be construed to create a joint venture or partnership between the parties. CONSULTANT, its officers, employees and agents shall not have any
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28 power to bind or commit the CITY to any decision.
23. FINANCIAL RECORDS. Records of CONSULTANT’s direct labor costs, payroll costs, and reimbursable expenses pertaining to this project covered by this Agreement will be kept on a generally recognized accounting basis and made available to CITY if and when required.
24. NOTICES. All notices required hereunder shall be in writing and mailed postage prepaid by certified or registered mail, return receipt requested, or by personal delivery to the CITY's address as shown below, or such other places as CITY or CONSULTANT may, from time to time, respectively, designate in a written notice given to the other. Notice shall be deemed received three (3) days after the date of the mailing thereof or upon personal delivery.
To CITY: Carlton Thompson, City Engineer
Community Development Department
City of Concord
1950 Parkside Drive
Concord, CA 94519-2578
Phone: (925) 671-3182
Fax: (925) 798-8692
To CONSULTANT: Robert Broestl
Bellecci & Associates
2290 Diamond Boulevard, Suite 100
Concord, CA 94520
Phone: (925) 685-4569
25. NON-LIABILITY. No member of the CITY and no other officer, employee or agent of the CITY shall be personally liable to CONSULTANT or otherwise in the event of any default or breach of the CITY, or for any amount which may become due to CONSULTANT or any successor in interest, or for any obligations directly or indirectly incurred under the terms of this Agreement.
26. EXECUTION . Each individual or entity executing this Agreement on behalf of CONSULTANT represents and warrants that he or she or it is duly authorized to execute and deliver this Agreement on behalf of CONSULTANT and that such execution is binding upon CONSULTANT.
This Agreement may be executed in several counterparts, each of which shall constitute one and the same instrument and shall become binding upon the parties when at least one copy hereof shall have been signed by both parties hereto. In approving this Agreement, it shall not be necessary to produce
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IN WITNESS WHEREOF, the parties have executed this Agreement in one (1) or more copies as of the date and year first written above.
CONSULTANT CITY OF CONCORD, a Municipal
Corporation
By:_________________________________ By:______________________________ Name: Robert Broestl Name: Valerie Barone
Title: Principal-in-Charge Title City Manager
Address: 2290 Diamond Boulevard, Suite 100 Address: 1950 Parkside Drive Concord, CA 94520 Concord, CA 94519
Telephone: (925) 685-4569 Telephone: (925) 671-3150
Email: [email protected]
APPROVED AS TO FORM: ATTEST:
Susanne Brown Joelle Fockler, MMC
City Attorney City Clerk
Date: _____________________________, 2023
FINANCE DIRECTOR'S CERTIFICATION:
Concord, California
Date: _____________________________, 2023
I HEREBY CERTIFY THAT ADEQUATE FUNDS EXIST OR WILL BE RECEIVED DURING THE CURRENT FISCAL YEAR 2022/23 TO PAY THE ANTICIPATED EXPENSES TO BE INCURRED PURSUANT TO THIS CONTRACT.
THE SUM OF $118,243.40
Account Code: 4079500C999-74500 / 4072615113-74500
Finance Director's Signature
Proposal to the City of Concord
for Civil Engineering Design Services for
Alberta Way Pavement Rehabilitation City Project No. 2615 November 17 , 2022
Alberta Way (Existing Conditions) • Concord, CA
Exhibit A to Attachment 2
Table of Contents
Cover Letter 1
Professional Experience
F irm Profile: Bellecci 2
F irm Profile: Subconsultant 3
List of R ecent Relevant Projects 4
R elevant/Similar Project Descriptions 5
References 11
Litigation 11
Project Team Experience
R esumes: Bellecci 12
R esumes: Subconsultant 22
Or ganization Chart 24
Design Strategy
Description 25
Concord • Alberta Way Pavement Rehabilitation. No. 2615 Page 20 of 52 Concord • Alberta Way Pavement Rehabilitation. No. 2615 1 November 17 , 2022
Mr. Justin Bosch
Project Manager
City of Concord | Engineering Services
1435 Gasoline Alley
Concord, CA 94520
Dear Mr. Bosch,
Bellecci welcomes this opportunity to share our qualifications again with the City of Concord for the Alberta Way Pavement Rehabilitation City Project No. 2615 project. Bellecci, founded in 1983, is an award-winning Concord-based Civil Engineering, Land Surveying, and Construction Management CA Corporation. The City of Concord is familiar with Bellecci because we have been designing the Meadow Lane/Market Street Paving Project.
One thing that often distinguishes Bellecci from out of town firms is our impeccable local knowledge. Bellecci has been headquartered in Concord since 1983 and we have several Concord resident employees. It is worth noting that I am a former Concord resident and I have driven the City streets several times a week over for the past 16+ years. I also managed our previous On-Call design/CM contract with the City of Concord and I have been the PIC for the Meadow Lane paving project, as well as the Measure Q North 6th St./Wren Ave./Solano Ave Pavement Rehab project. The Measure Q streets that we designed, and that were built in 2017 , are still performing well based on our observations driving on them several times each week.
Of most relevance to our qualifications for this contract, over the past five years we have been selected to provide engineering design and/or construction management for 25+ public sector paving projects over the past five years that have featured slurry seal, cold in place recycle, overlays, mill and fill, and full depth reclamation. We also wish to highlight that Bellecci has been selected by the City of San Carlos as the civil firm for their last four consecutive annual pavement projects, and the last four City of Hercules annual pavement maintenance and rehabilitation projects. The 2023 project we are currently designing for San Carlos includes evaluation and design of miles of citywide pavement rehabilitations/ repairs with an engineers estimate of $10M.
The main reasons why the City should select Bellecci for this contract:
• Be llecci is currently working with the City on design of the Meadow Lane / Market Street Paving project • W e were the civil engineer, land surveyor, and/or CM/inspector for 25+ past City of Concord CIP projects since 2006 • O ur firm has provided professional services for pavement projects over the past seven years for the cities of Belmont, C oncord, Hercules, Los Altos, Millbrae, Petaluma, Pittsburg, San Mateo, San Carlos, Suisun City, Peralta Community C ollege District, Delta Diablo Sanitation District, Alameda County, and UC Berkeley We are especially motivated to work on this project because it is a top company priority for us to work in the City where our firm is headquartered. You may contact me directly at 925 • 318 • 2071 or via email at [email protected] to discuss next steps in the selection process.
Sincerely,
Robert Broestl, PE
Principal in Charge Page 21 of 52
Concord • Alberta Way Pavement Rehabilitation. No. 2615 2 Hendy Ave. Full Depth Pavement Reconstruction (APWA Silicon Valley POY Award) • Sunnyvale Firm Profile: Bellecci
Company Information
Bellecci is a SF Bay Area Professional Engineering, Land Surveying, and CM/Inspection California Corporation with two Bay Area offices. Among Bellecci’s key staff are licensed civil engineers, licensed land surveyors, and LSIT’s. We also have staff with advanced degrees in Civil Engineering, and we have two Professional Traffic Operations Engineers (PTOE). The benefit to the City is a high percentage of our Project Management and technical support staff hold professional licenses and exceptional academic backgrounds in their respective
discipline/s.
Bellecci’s Pavement Improvement Clients (past 5 years)
• A lameda Co. Public Works Agency: ACPWA (multiple)
• Concord, City of (2+)
• D elta Diablo Sanitation District
• Dublin, City of
• G alt, City of
• H ercules, City of (multiple)
• L os Altos, City of
• M illbrae, City of (multiple)
• Petaluma, City of
• P ittsburg, City of
• R edwood City, City of
• S an Carlos, City of (multiple)
• S an Rafael, City of (CM)
• Suisun City, City of
• U niversity of California, Berkeley (multiple)
Pavement Design Expertise
Bellecci has provided project management, design, and/
or CM/inspection, and survey services for 25 pavement
projects over the past five years featuring cold recycle in place (CIR), overlay, slurry seal, mill & fill, and full depth reconstruction, etc. Our pavement experience includes
design for arterials, collector and residential streets, as well as on State Routes.
Local Knowledge
As was stated in our introduction letter, Bellecci has previous experience working on several recent projects on behalf of the City of Concord. Overall, Bellecci has been selected as the civil engineer, land surveyor, and/or CM/inspector for 25+ past City of Concord CIP projects since 2006.
Concord Pavement & ADA projects:
• Me adow Ln./Market St. Paving Project
• Me asure Q North 6th St./Wren Ave./Solano Ave.
P avement\Rehab project (pictured above)
• Downtown ADA Curb Ramp Improvement Project
Other Noteworthy Concord CIP projects:
• D owntown Contraflow Bike Lanes
• W illow Pass Rd./Diamond Blvd. Sanitary Sewer Improvements • Whitman Rd. Sanitary Sewers improvements
• O n-Call Design/Survey/CM Contract (20+ projects)
Offices: D IR#
2290 Diamond Blvd., Ste. 100 7 077 Koll Center Parkway, Ste. 210 1 000023993 Concord, CA 94520 P leasanton , CA
925 • 685 • 4569 9 25 • 685 • 4569 SLEB: Alameda County PW
Concord • Alberta Way Pavement Rehabilitation. No. 2615 3 Firm Profile: Subconsultant
Butano Engineering
Butano Geotechnical Engineering, founded in 2006, provides Geotechnical Engineering, Pavement Design, General Civil Engineering, Geology, and testing and inspection services within the greater Monterey Bay and San Francisco Bay areas. Their projects include city street, school athletic facilities and building, commercial buildings, residential, and public works. They are a full service geotechnical firm with a fully equipped DSA and AASHTO certified in-house soil laboratory. Butano provides Falling Weigh Deflection Testing (FWD) and pavement coring for existing pavement rehabilitation design and they also provide QA and QC for all of their pavement projects. Butano has been providing us deflection testing / pavement evaluation services for a major regional pavement and complete streets improvement project ($25M) for Alameda County Public Works Agency.
Geotechnical/Deflection Testing
Greg Bloom, PE, GE
Project Manager
231 Green Valley Rd., Suite E
Freedom, CA 95019
831• 724 • 2612
[email protected]