CITY OF CONCORD JUNE 30, 2025
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued) In determining the long-term expectations rate of return, CalPERS took into account both short-term and long-term market return expectation. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach. The expected rate of return was then adjusted to account for assumed administrative expenses of 10 basis points.
The expected real rates of return by asset class are as follows:
Asset C l ass
1 Assum ed
Asset
Allocation Real Return
1,2
Global Equity-Cap Weighted 30.0% 4.54%
G lobal Equity-Non-Cap Weighted 12.0% 3.84%
Private Equity 13.0% 7.28%
Treasury 5.0% 0.27%
Mortgage-backed Securities 5.0% 0.50%
Investment G rade Corporates 10.0% 1.56%
High Yield 5.0% 2.27%
Emerging Market Debt 5.0% 2.48%
Private Debt 5.0% 3.57%
Real Assets 15.0% 3.21%
Leverage -5.0% -0.59%
Total 100%
(1) An ex pected inflation of 2.30% used for this period. (2) Figures are based on the 2021 Asset Liability Management study. 84
CITY OF CONCORD JUNE 30, 2025
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 Pension
Liability
Plan Fiduciary
Net Position
Net Pension
Liability/(Asset)
Balance at June 30, 2023 (Measurement Date) 279,110,421$ 179,521,148$ 99,589,273$ Changes in the year:
Service cost 4,643,782 - 4,643,782
Interest on the total pension liability 18,986,829 - 18,986,829 Differences between actual and expected experience 1,791,759 - 1,791,759 Change of benefit terms - - -
Changes of assumptions - - -
Plan to plan resource movement - - -
Contribution - employer - 10,357,447 (10,357,447)
Contribution - employee - 2,018,274 (2,018,274)
Net investment income - 17,280,694 (17,280,694)
Administrative expenses - (146,077) 146,077
Benefit payments, including refunds of
employee contributions (16,105,255) (16,105,255) - Other miscellaneous income/(expense) - - -
Net changes 9,317,115 13,405,083 (4,087,968) Balance at June 30, 2024 (Measurement Date) 288,427,536$ 192,926,231$ 95,501,305$ Safety Plan
Increase (Decrease)
Total Pension
Liability
Plan Fiduciary
Net Position
Net Pension
Liability/(Asset)
Balance at June 30, 2023 (Measurement Date) 367,302,204$ 222,037,729$ 145,264,475$ Changes in the year:
Service cost 6,526,297 - 6,526,297
Interest on the total pension liability 25,363,705 - 25,363,705 Differences between actual and expected experience 6,279,543 - 6,279,543 Change of benefit terms - - -
Changes of assumptions - - -
Plan to plan resource movement - - -
Contribution - employer - 14,895,776 (14,895,776)
Contribution - employee - 2,804,090 (2,804,090)
Net investment income - 21,548,410 (21,548,410)
Administrative expenses - (180,673) 180,673
Benefit payments, including refunds of
employee contributions (18,509,918) (18,509,918) - Other miscellaneous income/(expense) - - -
Net changes 19,659,627 20,557,685 (898,058) Balance at June 30, 2024 (Measurement Date) 386,961,831$ 242,595,414$ 144,366,417$ Total for Both Plans 675,389,367$ 435,521,645$ 239,867,722$ 85
CITY OF CONCORD JUNE 30, 2025
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 5.90% 5.90%
Net Pens ion Liability 130,210,600$ 197,505,257$
Current Discount Rate 6.90% 6.90%
Net Pens ion Liability 95,501,305$ 144,366,417$
1% Increase 7.90% 7.90%
Net Pens ion Liability 66,570,637$ 100,849,263$
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, 2025, the City recognized pension expense of $12,800,228 for the Miscellaneous plan and $22,616,555 for the Safety plan, for total pension expense of $35,416,783. At June 30, 2025, the City reported deferred outflows of reso urces and deferred inflows of resources related to pensions from the following sources:
Miscellaneous Plan:
Deferred Outflows Deferred Inflows
of Res ources of Res ources
Pension contributions subsequent to m easurem ent date 11,679,787$ -$ Differences between actual and ex pected ex perience 938,540 - Changes of assumptions - -
Net differences between projected and actual earnings on plan investments 2,675,838 -
Total 15,294,165$ -$
Safety Plan:
Deferred Outflows Deferred Inflows
of Res ources of Res ources
Pension contributions subsequent to m easurem ent date 16,272,217$ -$ Differences between actual and ex pected ex perience 7,621,007 - Changes of assumptions 3,145,993 -
Net differences between projected and actual earnings on plan investments 3,213,550 -
Total 30,252,767$ -$
Combined total 45,546,932$ -$
86
CITY OF CONCORD JUNE 30, 2025
NOTE 12 – PENSION PLAN (CONTINUED)
CalPERS Safety and Miscellaneous Employees’ Pension Plans (Continued) $13,014,265 and $14,937,739 reported as deferred outf lows of resources related to pensions for the miscellaneous and safety plans, respectively, result ing from the City’s contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the fiscal year ended June 30, 2026. Other amounts reported as deferred outflows and deferred inflows of resources related to pensions will be recognized in pension expense as follows:
Miscellaneous Plan:
Year Ended Annual
June 30 Amortization
2026 603,808$
2027 4,815,291
2028 (798,887)
2029 (1,005,834)
Total 3,614,378$
Safety Plan:
Year Ended Annual
June 30 Amortization
2026 6,568,060$
2027 8,331,850
2028 334,727
2029 (1,254,087)
Total 13,980,550$
Summary Information
For fiscal year 2024-2025, total pension expense for the Miscellaneous, Safety and City of Concord’s Retirement System Plans amounted to $34,744,028.
As of June 30, 2025, the City reported total net pension liability, deferred outflows of resources and deferred inflows of resources for the Miscellaneous, Safety and Concord Retirement System Plans as follows:
Deferred Deferred
Net Pension Outflows Inflows
Plan Liability of Resources of Resources
CalPERS Plans:
Miscellaneous 95,501,305$ 15,294,165$ -$
Safety 144,366,417 30,252,767 -
CCRS Retirement 11,970,875 - 834,975
Total 251,838,597$ 45,546,932$ 834,975$
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. 87
CITY OF CONCORD JUNE 30, 2025
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:
Benefits Provided
Retiree Couple Fam ily
For em ployees hired before the sum m er of 2016 (date depends on bargaining unit), the City pays m onthly health insurance prem ium s up to:
Pre-Medicare $ 672 1,344$ 1,747$
Medicare 288$ 575$ 863$
For em ployees hired after the sum m er 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 Em ployees' Medical and Hospital Care Act (PEMHCA). For 2025, that am ount is $158 per m onth.
Employees Covered
As of the June 30, 2024, measurement date, membership in the Plan consisted of the following:
Number of
Covered
Participants
Inactives currently receiving benefits 473
Inactives entitled to but not yet receiving benefits 70 Active em ployees 407
Total 950
88
CITY OF CONCORD JUNE 30, 2025
NOTE 13 – OTHER POST-EMPLOYMENT HEATH CARE BENEFITS (CONTINUED) 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, 2024, using an annual actuarial valuation as of June 30, 2024. The long-t erm portion of the governme ntal activities Net OPEB Liability is liquidated primarily by the General Fund.
Actuarial Assumptions – The total OPEB liability in the plan’s June 30, 2024, actuarial valuation was determined using the following actuarial assumptions:
Actuarial Assumptions
V aluation Date June 30, 2024
Measurem ent Date June 30, 2024
Actuarial Cost Method Entry age Norm al, Level % of pay Actuarial Assum ptions:
Discount Rate 5.75% at June 30, 2024 and 5.75% and June 30, 2023 Inflation 2.5% annually
Payroll G rowth Aggregate Increase - 2.75% annually
Investment Rate of Return 5.75% at June 30, 2024 and 5.75% and June 30, 2023 Mortality CalPERS 2000-2019 Experience Study
Mortality Im provem ent
Mortality projected fully generational with Society of Actuaries Scale MP- 2021
Non-Medicare - 7.90% for 2026, decreasing to an ultimate rate of 3.45% in 2076 and later years
Medicare (Non-Kaiser) - 6.90% for 2026, decreasing to an ultimate rate of
3.45% in 2076 and later years
Medical Trend
Medicare (Kaiser) - 5.65% for 2026, decreasing to an ultim ate rate of 3.45% in 2076 and later years
Currently covered - 100%
Currently waived - 80%
Healthcare Participation PEHMCA Minimum Only - 60%
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 34% 4.56%
Fixed Income 41% 1.56%
TIPS 5% -0.08%
Commodities 3% 1.22%
REITs 17% 4.06%
Total 100%
Assumed Long-Term Rate of Inflation 2.50%
Expected Long-Term Net Rate of Return, Rounded 5.75%
89
CITY OF CONCORD JUNE 30, 2025
NOTE 13 – OTHER POST-EMPLOYMENT HEATH CARE BENEFITS (CONTINUED) 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.
Changes in the Net OPEB Liability
The changes in the net OPEB liability for each plan measured as of June 30, 2024, are as follows:
Total OPEB Plan Fiduciary Net OPEB
Liability Net Pos ition Liability
Balance at June 30, 2023 65,231,102$ 37,087,282$ 28,143,820$ Changes in the year:
Service cost 1,291,740 - 1,291,740
Differences between actual and ex pected (1,955,276) - (1,955,276) Assum ption changes - - - Interest 3,682,855 - 3,682,855
Contributions - em ployer - 5,257,407 (5,257,407)
Net in v es tmen t in co me - 3,118,520 (3,118,520)
Adm inistrative ex penses - (63,487) 63,487
Benefit paym ent, including refundings -
of em ployee contributions (4,946,378) (4,946,378) - Net Changes (1,927,059) 3,366,062 (5,293,121)
Balance at June 30, 2024 63,304,043$ 40,453,344$ 22,850,699$ Fiscal Y ear 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 OPEB Liability 28,892,840$ 22,850,699$ 17,700,973$ 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 20,703,988$ 22,850,699$ 25,927,096$ 90
CITY OF CONCORD JUNE 30, 2025
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, 2025, the City recognized OPEB expense of $1,598,808 for the plan. At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Employer contributions made subsequent to the measurement date 4,510,625$ -$ Changes in assumptions 602,752 (24,738)
Differences between expected and actual experience - (3,025,921) Net differences between projected and actual earnings on plan investments 1,426,083 -
Total 6,539,460$ (3,050,659)$
$4,510,625 reported as deferred outflows of resources related to OPEB resulting from the City’s contributions subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in the fiscal year ended June 30, 2026. Other amounts reported as deferred outflows and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:
Annual
Year Ended June 30, Amortization
2026 (413,655)$
2027 453,953
2028 (429,193)
2029 (557,728)
2030 (75,201)
Thereafter -
Total (1,021,824)$
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 emergenc y 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. 91
CITY OF CONCORD JUNE 30, 2025
NOTE 14 – DEFERRED COMPENSATION PLANS (CONTINUED)
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, 2025 for both plans totaled $605,953.
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.
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.
92
CITY OF CONCORD JUNE 30, 2025
NOTE 15 – LEASES (CONTINUED)
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.
Leases Receivable
The balances related to leases receivable and deferred inflows of resources as of June 30, 2025 were:
Deferred
Lease Inflows of
Receivable Resources
General Fund
Communication sites 1,628,683$ 1,504,782$
Land rentals 3,952,446 3,761,749
Pavilion 3,060,543 3,046,952
Parking lot 29,181 28,590
Subtotal-General Fund 8,670,853 8,342,073
Golf Enterprise Fund
Communication sites 367,024 354,797
Total 9,037,877$ 8,696,870$
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, 2025, the City had six 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, 2025, the leases had one to thirteen years remaining. The City recognized $235,371 in lease revenue and $40,075 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. 93
CITY OF CONCORD JUNE 30, 2025
NOTE 15 – LEASES (CONTINUED)
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, 2025, 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 years and as of June 30, 2025, the three leases had 5 years, 10 years and 25 years, respectively, remaining, including optional extension periods. One lease, that expired in December 2024 was extended 5 years during the year ended June 30, 2025. One of the leases can be renewed for two additional five-year terms an d one lease can be renewed for five additional five- year terms. The City recognized $194,953 in lease revenue and $98,714 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, 2025, the lease had 3.5 remaining, including the optional extension period. The City re cognized $870,558 in lease revenue and $53,629 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, 2025, the lease had 0.5 years remaining. Th e City recognized $57,180 in lease revenue and $641 in interest revenue during the current fiscal year relate d to the lease. Al so, the City has deferred inflows of resources associated with the leas e that will be recognized as revenue over the lease term.
Leases Payable
A summary of the lease payable transactions for the fiscal year ended June 30, 2025, are as follows:
Balance Balance Current
June 30, 2024 Additions Retirements 6/30/2025 Portion
Governmental Activities
License Plate Readers 319,547$ -$ 157,252 $ 162,295$ 162,295$ Avila Rd - Firearm Range - 162,769 53,182 109,587 54,195 Total Leases Payable 319,547$ 162,769$ 210,434$ 271,882$ 216,490$ License Plate Reader – The City entered into a four-year lease ag reement as lessee for the use of license plate reader cameras that commenced in September 202 2. An initial lease liability was recorded in the amount of $639,413. As of June 30, 2025, the value of the lease liability was $162,295. The City is required
to make annual principal and interest payments of $167,500. The lease bear s the City’s incremental borrowing rate of 3.2070%. The value of the right-to-use asset as of the end of the current fiscal year was $200,705, which is net of accumulated amortization of $438,708. 94
CITY OF CONCORD JUNE 30, 2025
NOTE 15 – LEASES (CONTINUED)
Avila Rd – Firearm Range – The City entered into a three-year le ase agreement as lessee for the use of the Avila Road Firearm Range. An initial lease liability was recorded in the amount of $162,769. As of June 30, 2025, the value of the lease liability was $109,587. The City is required to make annual principal and interest payments of $56,050. The lease bears the City’s incremental borrowing rate of 2.1860%. The value of the right-to-use asset as of the end of the current fiscal year was $108,513, which is net of accumulated amortization of $54,256.
The future principal and interest lease payments as of June 30, 2025, were as follows:
G overnm ental Activities
For the Y ear
Ended June 30 Principal Interest Total
2026 216,490$ 7,060$ 223,550$
2027 55,392 658 56,050
$ 271,882 $ 7,718 $ 279,600
NOTE 16 – SUBSCRIPTION-BASED IN FORMATION TECHNOLOGY ARRANGEMENTS (SBITAs)
A SBITA is a contract that conveys control of the right to use another party’s (a SBITA vendor’s) IT software, alone or in combination with tangible capital assets (the underlying IT assets), as specified in the contract for a period of time in an exchange or exchange-like transaction. The City recognizes subscription assets and liabilities with an initial, individual value of $100,000 or more, based on the up front or future subscription payments remaining at the start of the agreement.
At the commencement of a SBITA, the City initially measures the subscription liability at the present value of payments expected to be made during the contract term. Subsequently, the subscription liability is reduced by the principal portion of payments made. The subscription asset is initially measured as the initial amount of the subscription liability, adjusted for payments made at or before the SBITA commencement date, plus certain initial direct costs. Subsequently, th e subscription asset is amortized on a straight ‐line basis over shorter of the subscription term or the useful life of the underlying IT assets.
Key estimates and judgments related to SBITAs include how the City determines (1) the discount rate it uses to discount the expected subscription payments to present value, (2) subscription term, and (3) subscription payments as follows:
• The City uses the interest rate charged by the IT vendor as the discount rate. When the interest rate charged by the IT vendor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for subscription liabilities. • The subscription term includes the noncancellable period of the subscription.
The City monitors changes in circumstances that would require a remeasurement of its subscription and will remeasure the subscription asset and liability if certain changes occur that are expected to significantly affect the amount of the subscription liability.
Subscription assets are reported with other capital assets and subscription liabilities are reported as long-term debt on the statement of net position.
95
CITY OF CONCORD JUNE 30, 2025
NOTE 16 – SUBSCRIPTION-BASED IN FORMATION TECHNOLOGY ARRANGEMENTS (SBITAs) (CONTINUED)
A summary of governmental activities SBITA transactions for the fiscal year ended June 30, 2025, are as follows:
Balance Balance Current
June 30, 2024 Additions Retirements June 30, 2025 Portion Governmental Activities
Peregrine Software 513,183$ -$ 252,542 $ 260,641$ 260,641$ Mark 43 Dispatch Software - 1,507,512 307,660 1,199,852 289,460 Microsoft Volume Licenses - 699,886 238,040 461,846 228,225 Open Counter - 185,039 45,835 139,204 43,911
ESRI ArcGIS - 254,382 87,029 167,353 82,396
Total Leases Payable 513,183$ 2,646,819$ 931,106$ 2,228,896$ 904,633$ In December 2019, the City entered into a five‐year SBITA for the use of computer aided dispatch software.
An initial subscription liability was recorded in the amount of $368,155. As of June 30, 2024, the balance of the subscription liability was fully re paid. The City was required to ma ke annual principal and interest payments of $187,500. The software had a five‐year estimated useful life. The value of the right‐to‐use asset as of the end of the current fiscal year was $ 0, as the right to use asset and associated accumulated amortization of $368,155 were retired during the year ended June 30, 2025.
In September 2021, the City entered into a three‐year SBITA for the use of the Microsoft Office 365 software.
An initial subscription liability was recorded in the amount of $377,034. As of June 30, 2024, the balance of the subscription liability was fully repaid. The City was required to make an annual principal and interest payments from $193,415. The software had a five‐year estimated useful life. The value of the right ‐to‐use
asset as of the end of the current fiscal year was $0, as the right to use asset and associated accumulated amortization of $377,034 were retired during the year ended June 30, 2025.
On November 1, 2022, the City entered into a four-year SBITA for the us e of data storage software. The subscription liability was paid in full at the beginning of the agreement, therefore no subscription liability was recorded. The software has a five‐year estimated useful life. The value of the right‐to‐use asset as of the end of the current fiscal year was $12,177, which is net of accumulated amortization of $124,812.
On November 1, 2022, the City ente red into a four-year SBITA for the use of electronic court case filing software. An initial subscription liability was recorded in the amount of $1,026,878. As of June 30, 2025, the balance of the subscription liability was $260,641. The City is required to make annual principal and interest payments of $269,000. The software has a five‐year estimated useful life. The value of the right‐to‐ use asset as of the end of the current fiscal year was $342,292, which is net of accumulated amortization of $684,586.
In December 2024, the City entered into a five‐year SBITA for the use of computer aided dispatch software.
An initial subscription liability was recorded in the amount of $1,507,512. As of June 30, 2025, the balance of the subscription liability was $1, 199,852. The City is requ ired to make annual principal and interest payments of $318,028. The software has a five‐year estimated useful life. The value of the right‐to‐use asset as of the end of the current fiscal year was $1,332,473 which is net of accumulated amortization of $175,039. 96
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NOTE 16 – SUBSCRIPTION-BASED IN FORMATION TECHNOLOGY ARRANGEMENTS (SBITAs) (CONTINUED)
In September 2024, the City entered into a three‐year SBITA for the use of the Microsoft Office 365 software.
An initial subscription liability was recorded in the amount of $699,886. As of June 30, 2025, the balance of the subscription liability was $461,846. The City was required to make an annual principal and interest payments from $239,143. The software has a five‐year estimated useful life. The value of the right‐to‐use asset as of the end of the current fiscal year was $ 524,914, which is net of accumulated amortization of $174,972.
In December 2024, the City entered into a four‐year SBITA for the use of permitting and licensing software.
An initial subscription liability was recorded in the amount of $185,039. As of June 30, 2025, the balance of the subscription liability was $139,204. The City is required to make annual principal and interest payments between $47,210 and 50,085. The software has a five‐year estimated useful life. The value of the right‐to‐use asset as of the end of the current fiscal year was $158,054 which is net of accumulated amortization of $26,985.
In August 2024, the City entered into a three ‐year SBITA for the use of GIS mapping software. An initial subscription liability was recorded in the amount of $254,382. As of June 30, 2025, the balance of the subscription liability was $167,353. The City is required to make annual principal and interest payments of $87,600. The software has a four‐year estimated useful life. The value of the right‐to‐use asset as of the end of the current fiscal year was $179,481 which is net of accumulated amortization of $74,901.
The future principal and interest subscription liability payments as of June 30, 2025, were as follows:
G overnm ental Activities
For the Year
Ended June 30 Principal Interest Tota l
2026 904,633$ 56,349$ 960,982$ 2027 661,298 32,099 693,397
2028 352,333 15,780 368,113
2029 310,632 7,396 318,028
Total 2,228,896$ 111,624$ 2,340,520$ Subscription Assets In Process
On January 22, 2025, the City entered into an agreement with Workday, Inc. for the implementation of a new ERP System. The total cost of the ERP conversion pr oject is expected to be $9,500,000, which includes $4,015,884 in recurring annual subscription and maintenance costs over a ten-year period and the remaining costs attributed to initial conversion and implementation. Although the proj ect is not expected to be fully implemented until fiscal year 2027, certain startup costs have been incurred during the current fiscal year as part of the agreement, primarily related to initial setup and planning. As of June 30, 2025, the City has incurred $2,114,188 in expenses for system setup and pre-implementation activities. These costs are classified as a subscription asset in process and recorded as prepaid items and will remain in process until the system is fully operational.
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NOTE 16 – SUBSCRIPTION-BASED IN FORMATION TECHNOLOGY ARRANGEMENTS (SBITAs) (CONTINUED)
On January 17, 2025, the City entered into an agreement with Can/ Am Technologies, Inc. for the implementation of a new point-of-sale system. The total cost of the point-of-sale sy stem is expected to be $770,900, which includes $436,807 in recurring annual subscription and maintenance costs over a five-year period and the remaining costs attributed to initial conversion and implementation. Although the project is not expected to be fully implemented until fiscal year 2027, certain startup costs have been incurred during the current fiscal year as part of the agreement, primarily related to initial setup and planning. As of June 30, 2025, the City has incurred $127,480 in expenses for system setup and pre-implementation activities. These costs are classified as a subscription asset in process and recorded as prepaid items and will remain in process until the system is fully operational.
NOTE 17 – 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 ($25,000,000) 50,000,000$
Workers' Compensation ($500,000) Statutory
All Risk Property 600,000,000$
($25,000 per occurrence)
Property Flood Risk 225,000,000$
($100,000 per occurrence, subject to various sublimits depending on flood zone) Earthquake (5 percent of total values, with a $100,000 minimum) 100,000,000$ 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, 2025, 2024, and 2023, the amount of se ttlements did not exceed insurance coverage.
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NOTE 17 – RISK MANAGEMENT AND INSURANCE (CONTINUED)
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.
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 2.5 to 4.0 percent. In additi on, the general liability claims are based on an 80 percent confidence level. The un discounted worker's compensation claims totaled $17,008,893, and undiscounted general liability claims totaled $2,282,461, at June 30, 2025.
The change in the claims liabilities, including clai ms incurred but not reported are based on independent actuarial studies and were computed and recorded on a discounted basis as follows for the years ended June 30, 2024 and June 30, 2025:
Workers Risk
Compensation Management/
Internal Service Liability Internal Total Total
Fund Service Fund 2025 2024
Beginning balance 14,617,479$ 2,744,570$ 17,362,049$ 17,043,017$ Liability for current fiscal year claims 3,567,000 409,000 3,976,000 4,189,000 Change in liability for prior fiscal year claims and
claims incurred but not reported (IBNR) (1,960,517) 80,867 (1,879,650) (1,703,925) Claims paid (1,465,480) (949,885) (2,415,365) (2,166,043) Ending balance 14,758,482$ 2,284,552$ 17,043,034$ 17,362,049$ Current portion 2,542,054$ 560,083$ 3,102,137$ 3,181,645$ 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 $2 ,461 per month per employee. The Ci ty also provides its employees with Dental Insurance, paying premiums up to $213 per month per employee. The City also provides long- term disability and life insurance to its employees.
NOTE 18 – COMMITMENTS AND CONTINGENCIES
The City is subject to litigation arising in the normal course of business. In the opinion of the City Attorney there is no additional pending litigation, which is likely to have material adverse effect on the financial
position of the City.
The City participates in several Federal and State grant programs. Th ese programs have been audited through the fiscal year ended June 30, 2025. No cost disallowances were proposed as a result of these audits; however, these programs are still subject to further examination by the grantors and the amount, if any, of expenditures which may be disallowed by the granting agencies cannot be determined at this time. The City expects such amounts, if any, to be immaterial.
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CITY OF CONCORD JUNE 30, 2025
NOTE 18 – COMMITMENTS AND CONTINGENCIES (CONTINUED)
Encumbrances
The City uses an encumbrance system as an extens ion of normal budgetary accounting for governmental funds. Under this system, purchase orders, contracts, and other commitments for the expenditure of monies are recorded in order to reserve that portion of a pplicable appropriations. Encumbrances outstanding at year-end are recorded as restricted, committed or assigned fund balance, depending on the classification of the resources to be used to liquidate the encumbrance, since they do not constitute expenditures or liabilities.
Outstanding encumbrances at year-end are automa tically reappropriated for the following year.
Unencumbered and unexpended appropriations lapse at year-end.
Encumbrances outstanding as of June 30, 2025, were as listed below:
Am ount
Major G overnm ental Funds
General Fund 1,595,347$
General Projects Capital Projects Fund 6,421,570
2021 COP Projects Capital Projects Fund 11,377,444
Total Major G overnm ental Funds 19,394,361
Non-Major G overnm ental Funds:
State Gas Tax Special Revenue Fund 1,065,179
Maintenance Districts Special Revenue Fund 97,031
Housing and Com m unity Services Special Revenue Fund 60,118 Storm Water Managem ent Special Revenue Fund 117,958
Health Care District Special Revenue Fund 4,000
Technology Fee Special Revenue Fund 145,921
Special Developers Capital Projects Fund 548,153
Inter-Governmental Capital Projects Fund 524,789
Measure V Projects Capital Projects Fund 1,120,321
Total Non-Major G overnm ental Funds 3,683,470
Total Encumbrances Outstanding 23,077,831$
NOTE 19 – 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. 100
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NOTE 19 – REDEVELOPMENT SUCCESSOR AGENCY ACTIVITIES (CONTINUED) ABx1 26 and AB1484 created the regulatory authorit y, 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.
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, 2025 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, 2025, the loan balance was $230,003 and accrued interest on the loan totaled $479,547.
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NOTE 19 – REDEVELOPMENT SUCCESSOR AGENCY ACTIVITIES (CONTINUED) Pooled Investments
As of June 30, 2025, the Successor Agency held $952,716 within the City investment pool.
Long-Term Debt
The Successor Agency assumed the long-term debt of the former Redevelopment Agency as of February 2012.
The Successor Agency's debt issu es and transactions are summari zed below and discussed in detail thereafter.
Current Year Transactions and Balances
Balance as of Balance as of Current
June 30, 2024 Retirements June 30, 2025 Portion
2014 Tax Allocation Refunding Bonds
4.0-5.00%, due 03/01/2025 2,520,000$ 2,520,000$ -$ -$ Plus prem ium on refunding bonds 494,361 494,361 - Total Tax Allocation Bonds 3,014,361$ 3,014,361$ -$ -$ 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 Success or Agency only receives
the funds necessary to fulfill its approved obligations. The TABs were 100 percent secured by a surety bond issued by AMBAC Assurance prior to repayment during the year ended June 30, 2025.
For fiscal year 2025 RPTTF amounted to $2,988,64 3 which represented coverage of 1.13 over the $2,646,000 in debt service. With the dissolution of the Redevelopment Agency discussed above, Tax Increment is no longer distributed, and instead the Successor Agency receives payments from the County's Redevelopment Property Tax Trust Fund (RPTTF) that are to be used to fund repayment under the reimbursement agreement. In additi on, under the provisions of the la ws dissolving the Redevelopment Agency, the Successor Agency only receives the funds necessary to fulfill its approved obligations. The final payment on the 2014 TABs was made during the year ended June 30, 2025. 102
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NOTE 19 – REDEVELOPMENT SUCCESSOR AGENCY ACTIVITIES (CONTINUED) Commitments and Contingencies
State Approval of Enforceable Obligations
The Successor Agency prepares a Recognized Obligation Payment Schedule (ROPS) annually that contains all proposed expenditures for the subsequent twelve-month period. The ROPS is subject to the review and approval of the Oversight Board as well as the State Department of Finance. Although the State Department of Finance may not question items included on the ROPS in one period, they may question the same items in a future period and disallow associated activities. The amount, if any, of current obligations that may be denied by the State Department of Finance cannot be determined at this time . The City expects such amounts, if any, to be immaterial.
NOTE 20 – NET POSITION ADJUSTMENTS
During fiscal year 2025, the City implemen ted the provisions of GASB Statement No. 101, Compensated Absences. This resulted in a change in accounting princi ple beginning net position adjustment. The City’s June 30, 2024 net position adjustments are as follows:
Change in
June 30, 2024 Accounting
As Prev iously Princip le June 30, 2024
Reported (GASB 101) As Adjusted
G overnm ent-Wide
Governmental Activities 562,521,643$ (6,813,623)$ 555,708,020$ Business-Type Activities 110,103,048 46,351 110,149,399 Total Primary Government 672,624,691$ (6,767,272)$ 665,857,419$ Proprietary Funds
Sewer Enterprise Fund 105,285,685$ 46,351$ 105,332,036$ Internal Service Funds 59,985,751$ (6,813,623)$ 53,172,128$ 103
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CITY OF CONCORD JUNE 30, 2025
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF CONCORD JUNE 30, 2025
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 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 Total Pension Liab ility
Service Cost 3,018,180$ 2,997,825$ 3,355,005$ 3,868,011$ 3,885,056$ Interest 13,671,707 14,191,823 14,505,723 15,288,854 16,115,663 Differences between expected and actual experience 738,338 22,946 (1,288,985) 5,255,833 3,945,856 Changes of assumptions (3,200,990) - 11,460,291 (1,752,822) - Changes in benefits - - - - - Benefit paym ents, including refunds
of employee contributions (9,773,556) (10,033,970) (10,318,668) (11,016,016) (12,078,986) Net change in total p ension liab ility 4,453,679 7,178,624 17,713,366 11,643,860 11,867,589 Total p ension liab ility - b eginning 184,555,465 189,009,144 196,187,768 213,901,134 225,544,994 Total p ension liab ility - end ing (a) 189,009,144$ 196,187,768$ 213,901,134$ 225,544,994$ 237,412,583$ Plan fiduciary net position
Contributions - employer 4,836,917$ 5,333,899$ 6,081,150$ 6,548,823$ 7,398,652$ Contributions - employee 1,338,554 1,349,589 1,502,951 1,632,544 1,657,850 Net investment income 2,942,666 659,376 14,191,716 11,752,209 9,660,803 Benefit paym ents, including refunds
of employee contributions (9,773,556) (10,033,970) (10,318,668) (11,016,016) (12,078,986) Plan to plan resource movement (53,698) (1,397) - (342) - Administrative expense (147,283) (79,697) (188,978) (217,012) (105,297) Other m iscellaneous incom e/(ex pense) - - - (412,110) 342 Net change in plan fiduciary net position (856,400) (2,772,200) 11,268,171 8,288,096 6,533,364 Plan fiduciary net position - beginning 131,624,930 130,768,530 127,996,330 139,264,501 147,552,597 Plan fiduciary net position - ending (b) 130,768,530$ 127,996,330$ 139,264,501$ 147,552,597$ 154,085,961$ Net pension liability - ending (a)-(b) 58,240,614$ 68,191,438$ 74,636,633$ 77,992,397$ 83,326,622$ Plan fiduciary net position as a percentage of the
total pension liability 69.19% 65.24% 65.11% 65.42% 64.90% Covered payroll 17,128,929$ 17,838,673$ 19,770,939$ 21,505,077$ 21,773,599$ Net pension liability as percentage of covered payroll 340.01% 382.27% 377.51% 362.67% 382.70% Notes to Schedule:
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, 2021,2023 and 2024, there were no changes. In 2022, the accounting discount ra te reduced from 7.15 percent to 6.90 percent. In 2015, amounts reported reflect an adjustm ent of the discount rate from 7.5 percent (net of adm inistrative ex pense) to 7.65 percent (without a reduction for pensi on plan administrative ex pense.)
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 3 0 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
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6/30/2020 6/30/2021 6/30/2022 6/30/2023 6/30/2024
3,795,519$ 3,622,004$ 3,920,979$ 4,130,312$ 4,643,782$ 16,701,703 17,290,324 17,666,259 18,380,278 18,986,829 614,997 1,101,738 (236,952) 3,331,941 1,791,759 - - 7,603,037 - - - - - 313,365 - (12,670,194) (13,889,259) (14,546,526) (15,431,687) (16,105,255) 8,442,025 8,124,807 14,406,797 10,724,209 9,317,115 237,412,583 245,854,608 253,979,415 268,386,212 279,110,421 245,854,608$ 253,979,415$ 268,386,212$ 279,110,421$ 288,427,536$ 8,260,289$ 8,772,403$ 9,609,261$ 9,590,332$ 10,357,447$ 1,648,254 1,500,139 1,544,698 1,712,742 2,018,274 7,673,817 36,110,112 (14,581,709) 10,754,637 17,280,694 (12,670,194) (13,889,259) (14,546,526) (15,431,687) (16,105,255) - - - - - (217,223) (158,612) (119,054) (127,233) (146,077) - - - - -
4,694,943 32,334,783 (18,093,330) 6,498,791 13,405,083 154,085,961 158,780,904 191,115,687 173,022,357 179,521,148 158,780,904$ 191,115,687$ 173,022,357$ 179,521,148$ 192,926,231$ 87,073,704$ 62,863,728$ 95,363,855$ 99,589,273$ 95,501,305$
64.58% 75.25% 64.47% 64.32% 66.89%
21,334,818$ 21,553,654$ 21,756,850$ 24,101,342$ 27,574,626$ 408.13% 291.66% 438.32% 413.21% 346.34%
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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
M easurement Date 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 Total Pension Liab ility
Service Cost 4,792,943$ 4,928,814$ 5,509,705$ 5,876,593$ 5,836,758$ Interest 15,446,471 16,367,363 17,045,112 18,416,291 19,693,768 Differences between expected and actual experience 158,327 659,410 (2,108,933) 8,302,892 5,676,340 Changes of assum ptions - - 14,930,559 (924,463) - Changes in benefits (4,010,136) - - - - Benefit paym ents, including refunds
of employee contributions (8,359,469) (9,498,430) (10,436,636) (11,442,104) (12,722,874) Net change in total p ension liab ility 8,028,136 12,457,157 24,939,807 20,229,209 18,483,992 Total p ension liab ility - b eginning 207,549,726 215,577,862 228,035,019 252,974,826 273,204,035 Total p ension liab ility - end ing (a) 215,577,862$ 228,035,019$ 252,974,826$ 273,204,035$ 291,688,027$ Plan fiduciary net position
Contributions - employer 5,993,768$ 6,411,727$ 7,481,823$ 8,023,738$ 9,097,712$ Contributions - employee 1,620,500 1,655,293 1,756,319 1,905,328 1,908,372 Net investment income 3,290,091 766,604 16,371,961 13,638,015 11,417,116 Benefit paym ents, including refunds
of employee contributions (8,359,469) (9,498,430) (10,436,636) (11,442,104) (12,722,874) Plan to Plan Resource Movem ent (73,112) 1,397 - (404) - Administrative Expense (167,255) (90,535) (218,214) (253,615) (124,272) Other m iscellaneous incom e/(ex pense) - - - (481,619) 404 Net change in plan fiduciary net position 2,304,523 (753,944) 14,955,253 11,389,339 9,576,458 Plan fiduciary net position - beginning 146,247,858 148,552,381 147,798,437 162,753,690 174,143,029 Plan fiduciary net position - ending (b) 148,552,381$ 147,798,437$ 162,753,690$ 174,143,029$ 183,719,487$ Net pension liability - ending (a)-(b) 67,025,481$ 80,236,582$ 90,221,136$ 99,061,006$ 107,968,540$ Plan fiduciary net position as a percentage of the
total pension liability 68.91% 64.81% 64.34% 63.74% 62.98% Covered payroll 17,550,805$ 17,858,904$ 18,960,776$ 19,289,474$ 19,522,648$ Net pension liability as percentage of c overed payroll 381.89% 449.28% 475.83% 513.55% 553.04% Notes to Schedule:
Source: CalPERS Accounting V aluation
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).
Changes in assumptions. In 2017, the accounting discount rate reduced from 7.65 percent to 7.15 percent. In 2016, 2018, 2019, 2020, 2021,2023 and 2024, there were no changes. In 2022, the acc ounting discount rate reduced from 7.15 percent to 6.90 percent. In 2015, am ounts reported reflect an adjustm ent 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.) 108
CITY OF CONCORD JUNE 30, 2025
6/30/2020 6/30/2021 6/30/2022 6/30/2023 6/30/2024
5,819,371$ 5,612,270$ 5,941,359$ 5,949,883$ 6,526,297$ 20,716,215 21,805,269 22,916,800 24,088,253 25,363,705 2,037,227 3,425,534 1,849,987 5,066,966 6,279,543 - - 13,632,640 - - - - - 91,868 - (13,795,343) (15,456,752) (16,355,171) (17,732,199) (18,509,918) 14,777,470 15,386,321 27,985,615 17,464,771 19,659,627 291,688,027 306,465,497 321,851,818 349,837,433 367,302,204 306,465,497$ 321,851,818$ 349,837,433$ 367,302,204$ 386,961,831$ 10,238,493$ 10,898,120$ 11,756,116$ 12,729,845 14,895,776 1,923,865 2,132,642 2,182,048 2,462,809 2,804,090 9,090,255 43,477,672 (17,646,310) 13,161,829 21,548,410 (13,795,343) (15,456,752) (16,355,171) (17,732,199) (18,509,918) - - - - - (258,999) (190,715) (144,384) (155,579) (180,673) - - - - - 7,198,271 40,860,967 (20,207,701) 10,466,705 20,557,685 183,719,487 190,917,758 231,778,725 211,571,024 222,037,729 190,917,758$ 231,778,725$ 211,571,024$ 222,037,729$ 242,595,414$ 115,547,739$ 90,073,093$ 138,266,409$ 145,264,475$ 144,366,417$
62.30% 72.01% 60.48% 60.45% 62.69%
19,395,698$ 20,035,014$ 19,592,781$ 20,942,656$ 24,049,725$ 595.74% 449.58% 705.70% 693.63% 600.28%
109
CITY OF CONCORD JUNE 30, 2025
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 6/30/2016 6/30/20 17 6/30/2018 6/30/2019 6/30/2020 Total Pension Liab ility
Interest 3,970,093$ 3,539,085$ 3,426,180$ 3,304,303$ 3,211,973$ Differences between ex pected and actual ex perience - (1,612,351) - 586,695 - Changes in assumptions - 1,006,364 - 64,501 -
Differences between projected and actual earnings
on plan investm ents - - - - -
Changes in benefits - - - - -
Benefit paym ents, including refunds
of employee contributions (5,499,628) (5,415,808) (5,425,844) (5,489,099) (5,499,565) Net change in total p ension liab ility (1,529,535) (2,482,710) (1,999,664) (1,533,600) (2,287,592) Total p ension liab ility - b eginning 63,828,168 62,298,633 59,815,923 57,816,259 56,282,659 Total p ension liab ility - end ing (a) 62,298,633$ 59,815,923$ 57,816,259$ 56,282,659$ 53,995,067$ Plan fiduciary net position
Contributions - employer 2,041,611$ 2,845,258$ 5,885,064$ 2,822,000$ 2,715,000$ Contributions - em ployee - - - - -
Net investment income 630,598 2,370,458 1,496,946 2,081,149 1,409,436 Benefit paym ents, including refunds
of employee contributions (5,499,628) (5,415,808) (5,425,844) (5,489,099) (5,499,565) Administrative Expense (175,715) (160,582) (165,543) (179,003) (176,807) Net change in plan fiduciary net position (3,003,134) (360,674) 1,790,623 (764,953) (1,551,936) Plan fiduciary net position - beginning 34,402,401 31,399,267 31,038,593 32,829,216 32,064,263 Plan fiduciary net position - ending (b) 31,399,267$ 31,038,593$ 32,829,216$ 32,064,263$ 30,512,327$ Net pension liability - ending (a)-(b) 30,899,366$ 28,777,330$ 24,987,043$ 24,218,396$ 23,482,740$ Plan fiduciary net position as a percentage of the
total pens ion liability 50.40% 51.89% 56.78% 56.97% 56.51% Covered payroll (1) (1) (1) (1) (1)
Net pens ion liability as percentage of covered payroll N/AN /AN /AN /AN /A (1) The Plan was closed in 1999 and there are no active participants, therefore there is no covered payroll.
Source: CCRS Accounting Valuation
6/30/2016 6/30/2017 6/30/2 018 6/30/2019 6/30/2020
Annual money rated rate of return,
net of investment expense 2.49% 8.86% 5.26% 7.13% 4.25% 110
CITY OF CONCORD JUNE 30, 2025
6/30/2021 6/30/2022 6/30/2023 6/30/2024 6/30/2025
3,081,001$ 2,761,278$ 2,622,775$ 2,642,396$ 2,512,207$ (131,677) - 2,842,846 - (1,548,284)
1,188,841 - 85,831 - -
- - - - - - - - - - (5,290,086) (5,276,196) (5,282,819) (5,106,588) (4,908,393) (1,151,921) (2,514,918) 268,633 (2,464,192) (3,944,470) 53,995,067 52,843,146 50,328,228 50,596,861 48,120,271 52,843,146$ 50,328,228$ 50,596,861$ 48,132,669$ 44,175,801$ 2,715,000$ 5,087,000$ 6,606,208$ 2,372,000$ 2,370,000$ - - - - - 5,099,067 (3,358,405) 1,646,779 2,858,624 2,993,020 (5,290,086) (5,276,196) (5,282,819) (5,106,588) (4,908,393) (143,729) (173,931) (159,255) (165,860) (177,448) 2,380,252 (3,721,532) 2,810,913 (41,824) 277,179 30,512,327 32,892,579 29,171,047 31,981,960 31,927,747 32,892,579$ 29,171,047$ 31,981,960$ 31,940,136$ 32,204,926$ 19,950,567$ 21,157,181$ 18,614,901$ 16,192,533$ 11,970,875$
62.25% 57.96% 63.21% 66.36% 72.90%
(1) (1) (1) (1) (1)
N/A N/A N/A N/A N/A
6/30/2021 6/30/2022 6/30/2023 6/30/2024 6/30/2025
17.77% (11.56%) 6.01% 8.98% 9.61%
111
CITY OF CONCORD JUNE 30, 2025
REQUIRED 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
Total OPEB Liability
Service cost 1,560,983$ 1,607,812$ 1,469,949$ 1,514,047$ Interest 4,213,727 4,282,178 4,338,953 4,404,719 Changes of assumptions - (763,100) - (524,260)
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) Net change in total OPEB liability 886,915 1,019,139 1,001,454 (329,237) Total OPEB liability - beginning 63,308,501 64,195,416 65,214,555 66,216,009 Total OPEB liability - ending (a) 64,195,416$ 65,214,555$ 66,216,009$ 65,886,772$ Plan fiduciary net position
Plan to plan resource movement -$ -$ -$ -$
Contributions - employer 4,146,795 4,540,452 4,988,337 5,075,158 Contributions - employee - - - -
Net investment income 2,669,004 2,157,582 1,859,144 1,195,733 Differences between projected and actual
earnings on plan investments - - - -
Administrative expenses (13,562) (50,236) (54,242) (55,919) Benefit payments, including refunds
of employee contributions (4,887,795) (4,727,102) (4,807,448) (4,949,938) Net Change in Fiduciary Net Position 1,914,442 1,920,696 1,985,791 1,265,034 Plan fiduciary net position - beginning 24,739,632 26,654,074 28,574,770 30,560,561 Plan fiduciary net position - ending (b) 26,654,074$ 28,574,770$ 30,560,561$ 31,825,595$ Net OPEB liability - ending (a)-(b) 37,541,342$ 36,639,785$ 35,655,448$ 34,061,177$ Plan fiduciary net position as a percentage of the
total OPEB liability 41.52% 43.82% 46.15% 48.30%
Covered-employee payroll 38,731,716$ 40,794,552$ 41,296,247$ 40,730,516$ Net OPEB liability as a percentage of covered-employee payroll 96.93% 89.82% 86.34% 83.63% Fiscal Year June 30, 2018 June 30, 2019 June 30, 2020 June 30, 2021 Measurement Date 6/30/21 6/30/22 6/30/23 6/30/24
Total OPEB Liability
Service cost 1,290,415$ 1,466,017$ 1,257,168$ 1,291,740$ Interest 4,034,998 3,900,949 3,688,999 3,682,855 Changes of assumptions 3,013,764 (36,145) - -
Differences between expected and actual experience - (3,578,714) - (1,955,276) Benefit payments, including refunds
of employee contributions (5,234,420) (5,229,919) (5,228,782) (4,946,378) Net change in total OPEB liability 3,104,757 (3,477,812) (282,615) (1,927,059) Total OPEB liability - beginning 65,886,772 68,991,529 65,513,717 65,231,102 Total OPEB liability - ending (a) 68,991,529$ 65,513,717$ 65,231,102$ 63,304,043$ Plan fiduciar
y net position
Plan to plan resource movement -$ -$ -$ -$
Contributions - employer 5,316,392 4,637,072 5,980,809 5,257,407 Contributions - employee - - - -
Net investment income 9,306,204 (5,571,232) 1,456,777 3,118,520 Differences between projected and actual
earnings on plan investments - - - -
Administrative expenses (67,742) (52,817) (50,655) (63,487) Benefit payments, including refunds
of employee contributions (5,234,420) (5,229,919) (5,228,782) (4,946,378) Net Change in Fiduciary Net Position 9,320,434 (6,216,896) 2,158,149 3,366,062 Plan fiduciary net position - beginning 31,825,595 41,146,029 34,929,133 37,087,282 Plan fiduciary net position - ending (b) 41,146,029$ 34,929,133$ 37,087,282$ 40,453,344$ Net OPEB liability - ending (a)-(b) 27,845,500$ 30,584,584$ 28,143,820$ 22,850,699$ Plan fiduciary net position as a percentage of the
total OPEB liability 59.64% 53.32% 56.86% 63.90%
Covered-employee payroll 41,588,668$ 40,261,538$ 45,043,998$ 51,624,351$ Net OPEB liability as a percentage of covered-employee payroll 66.95% 75.96% 62.48% 44.26% Fiscal Year June 30, 2022 June 30, 2023 June 30, 2024 June 30, 2025 Notes to schedule
* Fiscal year 2018 was the first year of implementation, therefore, only eight years are shown. 112
CITY OF CONCORD JUNE 30, 2025
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
CalPERS Miscellaneous Plan – Agent Multiple-Employer Defined Benefit Pension Plan Last 10 Years
Fiscal Y ear E nd ed June 30 2016 2017 2018 2019 2020
Actuarially determ ined contribution 5,333,899$ 6,081,150$ 6,546,333$ 7,355,334$ 8,266,205$ Contributions in relation to the actuarially determ ined contributions 5,333,899 6,087,756 6,546,333 7,355,334 8,266,205 Contribution deficiency (ex cess) -$ (6,606)$ -$ -$ -$ Covered payroll 17,838,673$ 19,770,939$ 21,505,077$ 21,773,599$ 21,334,818$ Contributions as a percentage of covered payroll 29.90% 30.79% 30.44% 33.78% 38.75% Notes to Schedule
Valuation date: 6/30/2013 6/30/2014 6/30/2015 6/30/2016 6/30/2017 Fiscal Y ear E nd ed June 30 2021 2022 2023 2024 2025
Actuarially determ ined contribution 8,886,832$ 9,770,934$ 9,605,409$ 10,384,464$ 11,307,456$ Contributions in relation to the actuarially determ ined contributions 8,886,832 9,770,934 9,605,409 10,384,464 11,679,787 Contribution deficiency (ex cess) -$ -$ -$ -$ (372,331)$ Covered payroll 21,553,654$ 21,756,850$ 24,101,342$ 27,574,626$ 30,141,755$ Contributions as a percentage of covered payroll 41.23% 44.91% 39.85% 37.66% 38.75% Notes to Schedule
Valuation date: 6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022 Methods and assum ptions used to determ ine contribution rates:
Actuarial cost method
Am ortization m ethod
Asset valuation m ethod
Inflation
Salary increases
Investment rate of return
Retirement age
Retirement age and mortality
Source: City of Concord's general ledger and CalPERS Actuarial V aluation V aries by entry age and service
7.50% for 2015 to 2018, 7.375% for 2019, 7.25% for 2020, 7.00% for 2021 and 2022 and 6.80% for 2023, 2024 and 2025, net of pension plan investment ex pense, including inflation.
The probabilities of retirem ent are based on the CalPERS Ex perience Study The probabilities of m ortality are based on the CalPERS Ex perience 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. For 2023, 2024 and 2025, pre-retirement and post-retirement mortality rates include generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries.
2.75% for 2015 to 2019, 2.625% for 2020, 2.50% for 2021 and 2022, and 2.30% for 2023, 2024 and 2025
Level percentage of payroll, closed
Entry age norm al
Actuarial valuation of assets
113
CITY OF CONCORD JUNE 30, 2025
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
CalPERS Safety Plan – Agent Multiple-Employer Defined Benefit Pension Plan Last 10 Years
Fiscal Year Ended June 30 2016 2017 2018 2019 2020
Actuarially determined contribution 6,411,727$ 7,481,823$ 8,023,715$ 8,943,686$ 10,246,008$ Contributions in relation to the actuarially determined contributions 6,411,727 7,481,823 8,023,715 8,943,686 10,246,008 Contribution deficiency (excess) -$ -$ -$ -$ -$
Covered payroll 17,858,904$ 18,960,776$ 19,289,474$ 19,522,648$ 19,395,698$ Contributions as a percentage of covered payroll 35.90% 39.46% 41.60% 45.81% 52.83% Notes to Schedule
Valuation date: 6/30/2013 6/30/2014 6/30/2 015 6/30/2016 6/30/2017 Fiscal Year Ended June 30 2021 2022 2023 2024 2025
Actuarially determined contribution 10,836,764$ 11,652,316$ 12,762,514$ 14,942,294$ 16,004,108$ Contributions in relation to the actuarially determined contributions 10,836,764 11,652,316 12,762,514 14,942,294 16,272,217 Contribution deficiency (excess) -$ -$ -$ -$ (268,109)$ Covered payroll 20,035,014$ 19,592,781$ 20,942,656$ 24,049,725$ 24,405,813$ Contributions as a percentage of covered payroll 54.09% 59.47% 60.94% 62.13% 66.67% Notes to Schedule
Valuation date: 6/30/2018 6/30/2019 6/30/2 020 6/30/2021 6/30/2022 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
Source: City of Concord's general ledger and CalPERS Actuarial Valuation The probabilities of retirement are based on the CalPERS Experience Study 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. For 2023, 2024 and 2025, pre-retirement and post-retirement mortality rates include generational
mortality improvement using 80% of
Scale MP-2020 published by the Society of Actuaries.
7.50% for 2015 to 2018, 7.375% for 2019, 7.25% for 2020, 7.00% for 2021 and 2022 and 6.80% for 2023, 2024 and 2025, net of pension plan investment expense, including inflation.
2.75% for 2015 to 2019, 2.625% for 2020, 2.50% for 2021 and 2022, and
2.30% for 2023, 2024 and 2025
Entry age normal
Level percentage of payroll, closed
Actuarial valuation of assets
Varies by entry age and service
114
CITY OF CONCORD JUNE 30, 2025
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 2016 2017 2018 2019 2020
Actuarially determined contribution 2,478,000$ 2,715,000$ 2,715,000$ 2,493,000$ 2,491,000$ Contributions in relation to the actuarially
determ ined contributions 2,041,611 2,845,258 5,885,064 2,822,000 2,715,000 Contribution deficiency (ex cess) 436,389$ (130,258)$ (3,170,064)$ (329,000)$ (224,000)$ Covered payroll (1) (1) (1) (1) (1)
Contributions as a percentage of covered payroll N/A N/A N/A N/A N/A (1) Plan was closed in 1999.
Notes to Schedule
V aluation date: 6/30/2014 6/30/2016 6/30/2016 6/30/2018 6/30/2018 Fiscal Y ear E nd ed June 30 2021 2022 2023 2024 2025
Actuarially determined contribution 2,377,000$ 2,375,000$ 2,670,000$ 2,210,000$ 1,870,000$ Contributions in relation to the actuarially
determ ined contributions 2,715,000 5,087,000 6,606,208 2,372,000 2,370,000 Contribution deficiency (ex cess) (338,000)$ (2,712,000)$ (3,936,208)$ (162,000)$ (500,000)$ Covered payroll (1) (1) (1) (1) (1)
Contributions as a percentage of covered payroll N/A N/A N/A N/A N/A (1) Plan was closed in 1999.
Notes to Schedule
V aluation date: 6/30/2020 6/30/2020 6/30/2022 6/30/2022 6/30/2024 Methods and assum ptions used to determ ine contribution rates:
Actuarial cos t method
Am ortization m ethod
Am ortization period
Asset valuation m ethod Market value of assets
Inflation
Salary s cale Not applicable
Investm ent rate of return
11-year fixed period for 2024/2025
2.50%
5.50%, net of pension plan investm ent ex pense,
including inflation
Entry age norm al
Level dollar
115
CITY OF CONCORD JUNE 30, 2025
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CONTRIBUTIONS
Other Post Employment Benefit Plan - Agent Multiple-Employer Last 10 Years*
Fiscal Y ear 2018 2019 2020 2021
Actuarially determined contribution 4,266,000$ 4,333,000$ 4,250,000$ 4,340,000$ Contributions in relation to the
actuarially determined contribution 4,540,452 4,243,337 4,246,158 4,430,392 Contribution deficiency (excess) (274,452)$ 89,663$ 3,842$ (90,392)$ Covered-em ployee payroll 40,794,552$ 41,296,247$ 40,730,516$ 41,588,668$ Contributions as a percentage of
covered-em ployee payroll 11.13% 10.28% 10.43% 10.65%
Notes to Schedule
Valuation Date June 30, 2018 June 30, 2020
Methods and assum ptions used to
determine contribution rates:
Actuarial cost method Entry Age Norm al, Level % of Pay Entry Age Norm al, Level % of Pay Entry Age Norm al, Level % of Pay Entry Age Norm al, Level % of Pay Am ortization m ethod Level percentage of payroll, closed Level percentage of payroll, closed Level percentage of payroll, closed Level percentage of payroll, closed Asset valuation m ethod
Investment gain and losses spread over 5-year
rolling period
Investment gain and losses spread over 5-year
rolling period
Investm ent 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%
Inflation 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
ultim ate rate of 4.00% in 2076 and later years.
Medicare (Non-Kaiser) - 6.10% for 2022, decreasing
to an ultim ate rate of 4.00% in 2076 and later years.
Medicare (Kaiser) - 5.00% for 2022, decreasing to an
ultim ate rate of 4.00% in 2076 and later years.
Mortality CalPERS 1997-2011 Experience Study CalPERS 1997-2015 Experience Study CalPERS 1997-2015 Experience Study CalPERS 1997-2015 Experience Study Mortality Im provem ent
Mortality projected fully generational with Society of
Actuaries Scale MP-2016
Post retirement m ortality projected fully generational with Scale MP-2018
Post retirem ent m ortality projected fully generational with Scale MP-2018
Post retirement m ortality projected fully generational with Scale MP-2020
Fiscal Y ear 2022 2023 2024 2025
Actuarially determined contribution 3,707,000$ 3,782,000$ 3,560,000$ 3,630,000$ Contributions in relation to the
actuarially determined contribution 3,690,072 4,970,809 4,477,407 4,510,625 Contribution deficiency (ex cess) 16,928$ (1,188,809)$ (917,407)$ (880,625)$ Covered-em ployee payroll 40,261,538$ 45,043,998$ 51,624,351$ 54,547,568$ Contributions as a percentage of
covered-em ployee payroll 9.17% 11.04% 8.67% 8.27%
Notes to Schedule
Valuation Date June 30, 2020 June 30, 2022 June 30, 2022 June 30, 2022 Methods and assum ptions used to
determine contribution rates:
Actuarial cost m ethod Entry Age Norm al, Level % of Pay Entry Age Norm al, Level % of Pay Entry Age Norm al, Level % of Pay Entry Age Norm al, Level % of Pay Am ortization m ethod Level percentage of payroll, closed Level percentage of payroll, closed Level percentage of payroll, closed Level percentage of payroll, closed Asset valuation m ethod
Investment gain and losses spread over 5-year
rolling period
Investment gain and losses spread over 5-year
rolling period
Investm ent gain and losses spread over 5-year
rolling period
Investment gain and losses spread over 5-year
rolling period
Discount Rate 6.25% 5.75% 5.75% 5.75%
Inflation 2.75% 2.50% 2.50% 2.50%
Medical Trend
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% in 2076 and later years.
Non-Medicare - 8.50% for 2024, decreasing to an
ultimate rate of 3.45% in 2076 and later years.
Medicare (Non-Kaiser) - 7.50% for 2024, decreasing
to an ultimate rate of 3.45% in 2076 and later years.
Medicare (Kaiser) - 6.25% for 2024, decreasing to an
ultimate rate of 3.45% in 2076 and later years.
Non-Medicare - 8.50% for 2024, decreasing to an
ultimate rate of 3.45% in 2076 and later years.
Medicare (Non-Kaiser) - 7.50% for 2024, decreasing
to an ultimate rate of 3.45% in 2076 and later years.
Medicare (Kaiser) - 6.25% for 2024, decreasing to an
ultimate rate of 3.45% in 2076 and later years.
Non-Medicare - 8.50% for 2024, decreasing to an
ultim ate rate of 3.45% in 2076 and later years.
Medicare (Non-Kaiser) - 7.50% for 2024, decreasing
to an ultim ate rate of 3.45% in 2076 and later years.
Medicare (Kaiser) - 6.25% for 2024, decreasing to an
ultim ate rate of 3.45% in 2076 and later years.
Mortality CalPERS 1997-2015 Experience Study CalPERS 2000-2019 Experience Study CalPERS 2000-2019 Experience Study CalPERS 2000-2019 Experience Study Mortality Im provem ent
Post retirement m ortality projected fully generational with Scale MP-2020
Post retirement m ortality projected fully generational with Scale MP-2021
Post retirem ent m ortality projected fully generational with Scale MP-2021
Post retirement m ortality projected fully generational with Scale MP-2021
Notes to Schedule
* Fiscal year 2018 was the first year of im plem entation, therefore, only eight years are shown.
June 30, 2016 June 30, 2018
116
CITY OF CONCORD JUNE 30, 2025
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, 2025
Total
Other Intrafund General
General Pavilion Measure V General Funds Eliminations Fund
REVENUES
Taxes:
Property 23,505,860$ -$ -$ -$ -$ 23,505,860 $
Sales Tax:
Sales Tax 39,488,923 - - - - 39,488,923
Sales Tax - Transaction Use Tax - - 32,334,771 - - 32,334,771 Transient Occupancy 2,469,018 - - - - 2,469,018 Franchise Fees 10,344,959 - - - - 10,344,959
Business License 4,295,723 - - - - 4,295,723 Motor Vehicle In Lieu, Unrestricted 15,225,057 - - - - 15,225,057 Licenses and Permits 2,526,405 - - - - 2,526,405 Intergovernmental 1,680,295 - - 351,539 - 2,031,834 Charges for Services 7,359,153 - - 572,330 - 7,931,483 Fines, Forfeitures and Penalties 442,937 - - - - 442,937 Recreation Services 3,703,211 - - - - 3,703,211 Use of Money and Property 4,856,489 1,320,741 1,205,599 75,768 - 7,458,597 Special Assessment Collections 8,478 - - - - 8,478 Other 1,654,519 403,491 - - - 2,058,010 Total Revenues 117,561,027 1,724,232 33,540,370 999,637 - 153,825,266
EXPENDITURES
Current:
General Government 20,719,611 - - - - 20,719,611 Public Safety 78,266,369 - - 617,329 - 78,883,698 Public Works 13,858,169 - 651,321 - - 14,509,490 Economic Development and Base Reuse 1,205,622 - - - - 1,205,622 Community Development 11,219,477 - - 632,294 - 11,851,771 Recreation Services 7,433,311 321,947 - - - 7,755,258 Capital Outlay 52,140 110,820 - - - 162,960 Debt Service:
Principal 53,182 - - - - 53,182
Interest and Fiscal Charges 439,265 58,357 - - - 497,622 Total Expenditures 133,247,146 491,124 651,321 1,249,623 - 135,639,214
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (15,686,119) 1,233,108 32,889,049 (249,986) - 18,186,052
OTHER FINANCING SOURCES (USES)
Issuance of Lease 162,769 - - - - 162,769 Transfers In 20,657,851 - - 2,100,000 (20,418,100) 2,339,751 Transfers (Out) (4,398,694) - (32,272,400) (1,400,000) 20,418,100 (17,652,994) Total Other Financing Sources (Uses) 16,421,926 - (32,272,400) 700,000 - (15,150,474) NET CHANGES IN FUND BALANCES 735,807 1,233,108 616,649 450,014 - 3,035,578
FUND BALANCES
AT BEGINNING OF YEAR 35,230,792 (542,981) 5,865,277 29,595,161 - 70,148,249
FUND BALANCES
AT END OF YEAR 35,966,599$ 690,127$ 6,481,926$ 30,045,175$ -$ 73,183,827 $ 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, 2025
Variance with
Final Budget
Positive
Original Final Actual Amounts (Ne gative)
REVENUES:
Taxes:
Property 23,040,000$ 23,040,000$ 23,505,860$ 465,860$ Sales Tax:
Sales Tax 42,317,000 38,817,000 39,488,923 671,923 Sales Tax - Transaction Use Tax - - - -
Transient Occupancy 2,500,000 2,500,000 2,469,018 (30,982) Franchises 8,534,400 9,834,400 10,344,959 510,559 Business License 3,890,300 4,290,300 4,295,723 5,423 Motor Vehicle In Lieu, Unrestricted 15,000,000 15,000,000 15,225,057 225,057 Licenses and Permits 2,189,920 2,189,920 2,526,405 336,485 Intergovernmental 1,250,000 1,250,000 1,680,295 430,295 Charges for Services 6,596,742 6,596,742 7,359,153 762,411 Fines, Forfeitures and Penalties 322,500 322,500 442,937 120,437 Recreation Services 3,333,558 3,333,558 3,703,211 369,653 Use of Money and Property 1,645,850 2,045,850 4,856,489 2,810,639 Special Assessment Collections 7,800 7,800 8,478 678
Other 1,080,000 1,080,000 1,654,519 574,519 Total Revenues 111,708,070 110,308,070 117,561,027 7,252,957 EXPENDITURES:
Current:
General Government:
Council 560,840 563,784 461,433 102,351
Manager 3,935,257 4,128,463 3,523,640 604,823 Attorney 2,200,816 2,328,238 2,136,726 191,512 Human Resources 2,943,824 3,033,711 3,043,468 (9,757) Finance 11,769,443 12,275,481 11,554,344 721,137 Public Safety 76,131,904 76,448,812 78,266,369 (1,817,557) Public Works 14,062,724 14,368,394 13,858,169 510,225 Economic Development and Base Reuse 1,228,706 1,432,960 1,205,622 227,338 Community Development 11,439,821 12,188,210 11,219,477 968,733 Recreation Services 7,335,855 7,422,024 7,433,311 (11,287) Capital Outlay - - 52,140 (52,140)
Debt Service:
Principal - - 53,182 (53,182)
Interest and Fiscal Charges 412,600 412,600 439,265 (26,665) Total Expenditures 132,021,790 134,602,677 133,247,146 1,355,531
EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (20,313,720) (24,294,607) (15,686,119) 8,608,488
OTHER FINANCING SOURCES (USES)
Issuance of Lease - - 162,769 162,769
Transfers In 17,089,440 20,565,012 20,657,851 92,839 Transfers (out) (820,817) (2,232,571) (4,398,694) (2,166,123) Total Other Financing Sources (Uses) 16,268,623 18,332,441 16,421,926 (1,910,515) NET CHANGE IN FUND BALANCE (4,045,097)$ (5,962,166)$ 735,807 6,697,973$ FUND BALANCE AT BEGINNING OF YEAR 35,230,792
FUND BALANCE AT END OF YEAR 35,966,599$
Budgeted Amounts
General
120
Variance with Variance with
Final Budget Final Budget
Positive Positive
Original Final Actual Amounts (Ne gative) Ori ginal Final Actual Amounts (Ne gative) -$ -$ -$ -$ -$ -$ -$ -$
- - - - - - - -
- - - - 33,000,000 33,000,000 32,334,771 (665,229) - - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
1,063,310 1,063,310 1,320,741 257,431 - - 1,205,599 1,205,599 - - - - - - - -
247,800 247,800 403,491 155,691 - - - - 1,311,110 1,311,110 1,724,232 413,122 33,000,000 33,000,000 33,540,370 540,370 - - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - 748,000 1,024,000 651,321 372,679 - - - - - - - -
- - - - 520,000 796,000 - 796,000 346,370 346,369 321,947 24,422 - - - - - 1,450,590 110,820 1,339,770 - - - - - -
- - - - - - - -
- - 58,357 (58,357) - - - -
346,370 1,796,959 491,124 1,305,835 1,268,000 1,820,000 651,321 1,168,679 964,740 (485,849) 1,233,108 1,718,957 31,732,000 31,180,000 32,889,049 1,709,049 - - - - - - - -
- - - - - - - -
(929,805) (929,805) - 929,805 (32,252,000) (32,272,400) (32,272,400) - (929,805) (929,805) - 929,805 (32,252,000) (32,272,400) (32,272,400) - 34,935$ (1,415,654)$ 1,233,108 2,648,762$ (520,000)$ (1,092,400)$ 616,649 1,709,049$ (542,981) 5,865,277
690,127$ 6,481,926$
(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, 2025
Variance with
Final Budget
Positive
Original Final Actual Amounts (Ne gative)
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 300,000 300,000 351,539 51,539 Charges for Services 175,000 865,000 572,330 (292,670) Fines, Forfeitures and Penalties - - - -
Parks and Recreation - - - -
Use of Money and Property 20,785 20,785 75,768 54,983 Special Assessment Collections - - - -
Other - - - -
Total Revenues 495,785 1,185,785 999,637 (186,148) EXPENDITURES:
Current:
General Government:
Council - - - -
Manager - - - -
Attorney - - - -
Human Resources - - - -
Finance - - - -
Public Safety 475,569 475,569 617,329 (141,760) Public Works - - - -
Economic Development and Base Reuse - - - -
Community Development 176,555 956,349 632,294 324,055 Parks & Recreation Services - - - -
Capital Outlay - - - -
Debt Service:
Principal - - - -
Interest and Fiscal Charges - - - -
Total Expenditures 652,124 1,431,918 1,249,623 182,295
EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES (156,339) (246,133) (249,986) (3,853)
OTHER FINANCING SOURCES (USES)
Issuance of Lease - - - -
Transfers In - - 2,100,000 2,100,000
Transfers (out) - (1,400,000) (1,400,000) -
Total Other Financing Sources (Uses) - (1,400,000) 700,000 2,100,000 NET CHANGE IN FUND BALANCE (156,339)$ (1,646,133)$ 450,014 2,096,147$ FUND BALANCE AT BEGINNING OF YEAR 29,595,161
FUND BALANCE AT END OF YEAR 30,045,175$
Other General Funds
Budgeted Amounts
122
Variance with Variance with
Final Budget Final Budget
Positive Positive
Original Final Actual Amounts (Ne gative) Ori ginal Final Actual Amounts (Ne gative) -$ -$ -$ -$ 23,040,000$ 23,040,000$ 23,505,860$ 465,860$ - - - - 42,317,000 38,817,000 39,488,923 671,923 - - - - 33,000,000 33,000,000 32,334,771 (665,229) - - - - 2,500,000 2,500,000 2,469,018 (30,982) - - - - 8,534,400 9,834,400 10,344,959 510,559 - - - - 3,890,300 4,290,300 4,295,723 5,423 - - - - 15,000,000 15,000,000 15,225,057 225,057 - - - - 2,189,920 2,189,920 2,526,405 336,485 - - - - 1,550,000 1,550,000 2,031,834 481,834 - - - - 6,771,742 7,461,742 7,931,483 469,741 - - - - 322,500 322,500 442,937 120,437 - - - - 3,333,558 3,333,558 3,703,211 369,653 - - - - 2,729,945 3,129,945 7,458,597 4,328,652 - - - - 7,800 7,800 8,478 678
- - - - 1,327,800 1,327,800 2,058,010 730,210 - - - - 146,514,965 145,804,965 153,825,266 8,020,301 - - - - 560,840 563,784 461,433 102,351 - - - - 3,935,257 4,128,463 3,523,640 604,823 - - - - 2,200,816 2,328,238 2,136,726 191,512 - - - - 2,943,824 3,033,711 3,043,468 (9,757) - - - - 11,769,443 12,275,481 11,554,344 721,137 - - - - 76,607,473 76,924,381 78,883,698 (1,959,317) - - - - 14,810,724 15,392,394 14,509,490 882,904 - - - - 1,228,706 1,432,960 1,205,622 227,338 - - - - 12,136,376 13,940,559 11,851,771 2,088,788 - - - - 7,682,225 7,768,393 7,755,258 13,135 - - - - - 1,450,590 162,960 1,287,630
- - - - - - 53,182 (53,182)
- - - - 412,600 412,600 497,622 (85,022) - - - - 134,288,284 139,651,554 135,639,214 4,012,340 - - - - 12,226,681 6,153,411 18,186,052 12,032,641 - - - - - - 162,769 162,769
(16,897,700) (18,318,100) (20,418,100) (2,100,000) 191,740 2,246,912 2,339,751 92,839 16,897,700 18,318,100 20,418,100 2,100,000 (17,104,922) (18,516,676) (17,652,994) 863,682 - - - - (16,913,182) (16,269,764) (15,150,474) 1,119,290 -$ -$ - -$ (4,686,501)$ (10,116,353)$ 3,035,578 13,151,931$ - 70,148,249
-$ 73,183,827$
Total General Fund
Budgeted Amounts
Intrafund Eliminations
Budgeted Amounts
123
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CITY OF CONCORD JUNE 30, 2025
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 receive d 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 associated with planting, replacing, and maintaining trees.
Cannabis Community Benefit Special Revenue Fund. To account for revenue s received from local cannabis businesses for the advancement of community and public purposes. 125
CITY OF CONCORD JUNE 30, 2025
NON-MAJOR GOVERNMENTAL FUNDS (CONTINUED)
Opioid Settlement Fund. To account for funds pursuant to settlement agreements with opioid manufacturers, distributors, and phar macies, the funds are to be used to fund future opioid-remediation efforts. The settlement agreements include a list of qualifying opioid remediation expenditures.
Assessment Districts Fund. To account for accumulation of special 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 Managemen t Program
ASSETS:
Cash and Investments 9,317,982$ 4,773,943$ 78,356 $ 62,134$ 627,221 $ Cash with Fiscal Agents - - - - -
Receivables, Net
Accounts Receivable - 274,279 - - -
Interest - - - - 29,346
Due from Other Governments 298,116 - - - -
Loans and Notes - - - - 185,445
Total Assets 9,616,098$ 5,048,222$ 78,356$ 62,134$ 842,012$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES:
Liabilities:
Accounts, Deposits and Contracts Payable 106,773$ -$ -$ -$ -$ Accrued Liabilities 41,516 9,417 - - - Unearned Revenue - - - - -
Total Liabilities 148,289 9,417 - - - Deferred Inflows of Resources:
Unavailable Revenue - - - - 214,791
Fund balance:
Restricted 9,467,809 5,038,805 78,356 62,134 627,221 Assigned - - - - -
Unassigned - - - - -
Total Fund Balances (Deficit) 9,467,809 5,038,805 78,356 62,134 627,221 Total Liabilities, Deferred Inflows
and Fund Balances 9,616,098$ 5,048,222$ 78,356$ 62,134$ 842,012$
SPECIAL REVENUE FUNDS
CITY OF CONCORD
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2025
128
SPECIAL REVENUE FUNDS
General
Housing and Storm Health Public Plan
Community Wate r Care Asset Vehicle Education and Reimbursemen t Technology Services Managemen t District Forfeiture Abatemen t Government Fee Fee 2,337,526$ 8,957,845$ 741,954$ 456,583$ 258,531$ 1,117,690$ 4,401,721$ 4,322,328$ - - - - - - - -
- - - - - 86,230 - -
161,333 - - - - - - -
243,331 - 29,441 - 37,632 - - -
1,657,548 - - - - - - -
4,399,738$ 8,957,845$ 771,395$ 456,583$ 296,163$ 1,203,920$ 4,401,721$ 4,322,328$ 93,167$ -$ -$ -$ -$ 34,144 $ -$ -$ 1,349 21,001 908 - 2,082 - - - 70,000 - - - - - - -
164,516 21,001 908 - 2,082 34,144 - - 2,062,211 - - - - - - -
2,173,011 8,936,844 770,487 456,583 294,081 1,169,776 4,401,721 4,322,328 - - - - - - - -
- - - - - - - -
2,173,011 8,936,844 770,487 456,583 294,081 1,169,776 4,401,721 4,322,328 4,399,738$ 8,957,845$ 771,395$ 456,583$ 296,163$ 1,203,920$ 4,401,721$ 4,322,328$ (Continued)
129
SPECIAL REVENUE FUNDS DEBT SERVICE FUNDS
Cannabis
Community Opioi d
Tree Benefi t Settlement Assessment Energy
Fund Fund Fund Districts Lease
ASSETS:
Cash and Investments 161,092$ 618,604$ 378,057$ 7,926$ 1$ Cash with Fiscal Agents - - - - -
Receivables, Net
Accounts Receivable 2,250 29,529 - - - Interest - - - - -
Due from Other Governments - - - - -
Loans and Notes - - - - -
Total Assets 163,342$ 648,133$ 378,057$ 7,926$ 1$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES:
Liabilities:
Accounts, Deposits and Contracts Payable -$ -$ -$ 8,479$ -$ Accrued Liabilities 272 611 7,883 - -
Unearned Revenue - - 351,225 - -
Total Liabilities 272 611 359,108 8,479 - Deferred Inflows of Resources:
Unavailable Revenue - - - - -
Fund balance:
Restricted 163,070 647,522 18,949 - 1 Assigned - - - - -
Unassigned - - - (553) -
Total Fund Balances (Deficit) 163,070 647,522 18,949 (553) 1 Total Liabilities, Deferred Inflows
and Fund Balances 163,342$ 648,133$ 378,057$ 7,926$ 1$
CITY OF CONCORD
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
JUNE 30, 2025
130
DEBT
SERVICE
FUNDS CAPITAL PROJECTS FUNDS
Total
Infrastructure Nonmajor
Lease Special Inter- Measure V Governmental
Agreement Developers Governmental Projects Funds
29,428$ 12,074,079$ 11,395,346$ $23,159,506 $85,277,853 26,900 - 23,659 - 50,559
- - - - 392,288
- - - - 190,679
- - 903,562 - 1,512,082
- - - - 1,842,993
56,328$ 12,074,079$ 12,322,567$ 23,159,506$ 89,266,454$ -$ -$ 103,063$ 445,813$ 791,439$ - - - - 85,039
- - 439,286 - 860,511
- - 542,349 445,813 1,736,989
- - 903,562 - 3,180,564
56,328 - 10,876,656 - 49,561,682
- 12,074,079 - 22,713,693 34,787,772
- - - - (553)
56,328 12,074,079 10,876,656 22,713,693 84,348,901 56,328$ 12,074,079$ 12,322,567$ 23,159,506$ 89,266,454$ 131
SPECIAL REVENUE FUNDS
Art in Traffic Housing
State Maintenance Public System Assistance
Gas Tax Districts Places Managemen t Programs
REVENUES:
Taxes -$ 1,724,534$ -$ -$ -$
Licenses and Permits - - - - -
Franchises - - - - -
Intergovernmental 6,883,146 - - - -
Charges for Services - - - - -
Fines, Forfeitures and Penalties - - - - -
Use of Money and Property 414,956 208,690 3,245 - 25,886 Other - 10,000 - - -
Total Revenues 7,298,102 1,943,224 3,245 - 25,886 EXPENDITURES:
Current:
General Government - - - - -
Public Safety - - - - -
Public Works 3,738,497 1,739,584 760 - - Community and Economic Development - - - - -
Capital Outlay 2,710,302 - - - -
Debt service:
Principal Repayment - - - - -
Interest and Fiscal Charges - - - - -
Total Expenditures 6,448,799 1,739,584 760 - -
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 849,303 203,640 2,485 - 25,886 OTHER FINANCING SOURCES (USES):
Issuance of Subscription Liability - - - - -
Transfers In - - - - -
Transfers (Out) - (384,736) - - -
Total Other Financing Sources (Uses) - (384,736) - - - Net Changes in Fund Balances 849,303 (181,096) 2,485 - 25,886 Fund Balances (Deficit) at the Beginning of Period 8,618,506 5,219,901 75,871 62,134 601,335 FUND BALANCES (DEFICIT) AT END OF PERIOD 9,467,809$ 5,038,805$ 78,356$ 62,134$ 627,221$
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2025
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 Reimbursemen t Technology Services Managemen t District Forfeiture Abatemen t Government Fee Fee -$ 2,138,994$ 468,791$ -$ -$ -$ -$ -$ - - - - - - - -
- - - - - 346,140 - -
1,635,204 - - - 112,192 - - - - 81,766 - - - - 431,601 599,331 - - - 105,441 - - - -
151,865 350,106 30,624 15,014 10,700 46,478 171,438 168,404 53,140 430 25,000 - - - - - 1,840,209 2,571,296 524,415 120,455 122,892 392,618 603,039 767,735 - - - - - 173,206 - -
- - - - 98,981 - - -
- 905,610 - - - - - -
1,661,237 1,488,327 622,927 - - 78,446 - 16,922 294,030 67,952 - 60,535 - 61,505 56,197 185,039 - - - - - - - 45,835
- - - - - - - -
1,955,267 2,461,889 622,927 60,535 98,981 313,157 56,197 247,796 (115,058) 109,407 (98,512) 59,920 23,911 79,461 546,842 519,939 - - - - - - - 185,039
361,406 492,384 - - - - 93,394 - - (191,740) - - - - (22,248) - 361,406 300,644 - - - - 71,146 185,039 246,348 410,051 (98,512) 59,920 23,911 79,461 617,988 704,978 1,926,663 8,526,793 868,999 396,663 270,170 1,090,315 3,783,733 3,617,350 2,173,011$ 8,936,844$ 770,487$ 456,583$ 294,081$ 1,169,776$ 4,401,721$ 4,322,328$ (Continued)
133
SPECIAL REVENUE FUNDS DEBT SERVICE FUNDS
Cannabis
Community Opioi d
Tree Benefit Settlement Assessment Energy
Fund Fund Fund Districts Lease
REVENUES:
Taxes -$ -$ -$ -$ -$ Licenses and Permits 52,881 - - - - Franchises - - - - - Intergovernmental - - - - - Charges for Services 52,450 - - - - Charges for Services - - - - - Use of Money and Property 4,047 25,926 13,301 204 - Other - 357,331 100,117 - - Total Revenues 109,378 383,257 113,418 204 - EXPENDITURES:
Current:
General Government - - - - - Public Safety - 128,158 100,117 - - Public Works 3,074 - - - - Community and Economic Development - 208,018 - - - Capital Outlay - - - - - Debt service:
Principal Repayment - - - - 880,000 Interest and Fiscal Charges - - - - 58,380 Total Expenditures 3,074 336,176 100,117 - 938,380
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 106,304 47,081 13,301 204 (938,380) OTHER FINANCING SOURCES (USES):
Issuance of Subscription Liability - - - - - Transfers (In) - - - - 938,380 Transfers (Out) - (26,449) - - - Total Other Financing Sources (Uses) - (26,449) - - 938,380 Net Changes in Fund Balances 106,304 20,632 13,301 204 - Fund Balances (Deficit) at the Beginning of Period 56,766 626,890 5,648 (757) 1 FUND BALANCES (DEFICIT) AT END OF PERIOD 163,070$ 647,522$ 18,949$ (553)$ 1$
CITY OF CONCORD
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2025
134
DEBT
SERVICE
FUND CAPITAL PROJECTS FUNDS
Total
Infrastructure Nonmajor
Lease Special Inter- Measure V Governmental
Agreement Developers Governmental Projects Funds
-$ -$ -$ -$ 4,332,319$
- 268,447 - - 321,328
- - - - 346,140
- - 3,078,466 - 11,709,008
- - - - 1,165,148
- - - - 105,441
- 224,700 451,078 - 2,316,662
- 54,325 - - 600,343
- 547,472 3,529,544 - 20,896,389
- - - - 173,206
- - - - 327,256
- - 212,576 - 6,600,101
- 227,082 5,085 827,237 5,135,281
- 1,150,453 2,976,249 10,718,489 18,280,751 4,185,000 - - - 5,110,835
3,297,415 - - - 3,355,795
7,482,415 1,377,535 3,193,910 11,545,726 38,983,225 (7,482,415) (830,063) 335,634 (11,545,726) (18,086,836) - - - - 185,039
7,498,300 - - 8,568,700 17,952,564 - - (59,539) (477) (685,189)
7,498,300 - (59,539) 8,568,223 17,452,414 15,885 (830,063) 276,095 (2,977,503) (634,422) 40,443 12,904,142 10,600,561 $25,691,196 84,983,323 56,328$ 12,074,079$ 10,876,656$ 22,713,693$ 84,348,901$ 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, 2025
STATE GAS TAX MAINTENANCE DISTRICTS
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:
Taxes - $ - $ -$ 1,672,530 $ 1,724,534 $ 52,004$
Licenses and Permits - - - - - -
Franchises - - - - - -
Intergovernmental 7,442,000 6,883,146 (558,854) - - - Charges for Services - - - - - -
Fines, Forfeitures and Penalties - - - - - -
Use of Money and Property 180,460 414,956 234,496 130,197 208,690 78,493 Other - - - - 10,000 10,000
Total Revenues 7,622,460 7,298,102 (324,358) 1,802,727 1,943,224 140,497 EXPENDITURES:
Current:
General Government - - - - - -
Public Safety - - - - - -
Public Works 3,742,066 3,738,497 3,569 1,767,661 1,739,584 28,077 Community and Economic Development - - - - - -
Recreation Services - - - - - -
Capital Outlay 10,705,087 2,710,302 7,994,785 102,512 - 102,512 Debt Service:
Principal Repayment - - - - - -
Interest and Fiscal Charges - - - - - -
Total Expenditures 14,447,153 6,448,799 7,998,354 1,870,173 1,739,584 130,589
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (6,824,693) 849,303 7,673,996 (67,446) 203,640 271,086 OTHER FINANCING SOURCES (USES):
Issuance of Subscription Liability - - - - - -
Transfers In - - - - - -
Transfers (Out) - - - (384,736) (384,736) - Total Other Financing Sources (Uses) - - - (384,736) (384,736) - Net Changes in Fund Balances (6,824,693)$ 849,303 7,673,996$ (452,182)$ (181,096) 271,086$ Fund Balances (Deficit) at Beginning of Year 8,618,506 5,219,901 Fund Balances (Deficit) at End of Year 9,467,809$ 5,038,805$ 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) -$ -$ -$ -$ -$ -$ -$ -$ -$
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
3,463 3,245 (218) - - - 12,780 25,886 13,106 20,000 - (20,000) - - - - - -
23,463 3,245 (20,218) - - - 12,780 25,886 13,106 - - - - - - - - -
- - - - - - - - -
10,000 760 9,240 - - - - - - - - - - - - - - -
- - - - - - - - -
25,000 - 25,000 - - - - - -
- - - - - - - - -
- - - - - - - - -
35,000 760 34,240 - - - - - - (11,537) 2,485 14,022 - - - 12,780 25,886 13,106 - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(11,537)$ 2,485 14,022$ -$ - -$ 12,780 $ 25,886 13,106$ 75,871 62,134 601,335
78,356$ 62,134$ 627,221$
(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, 2025
HOUSING AND COMMUNITY SERVICES STORM WATER MANAGEMENT
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:
Taxes - $ - $ -$ 2,100,000$ 2,138,994$ 38,994$
Licenses and Permits - - - - - -
Franchises - - - - - -
Intergovernmental 1,611,400 1,635,204 23,804 - - - Charges for Services - - - 120,000 81,766 (38,234) Fines, Forfeitures and Penalties - - - - - -
Use of Money and Property 85,224 151,865 66,641 144,009 350,106 206,097 Other - 53,140 53,140 - 430 430
Total Revenues 1,696,624 1,840,209 143,585 2,364,009 2,571,296 207,287 EXPENDITURES:
Current:
General Government - - - - - -
Public Safety - - - - - -
Public Works - - - 1,006,953 905,610 101,343 Community and Economic Development 2,006,432 1,661,237 345,195 1,577,874 1,488,327 89,547 Recreation Services - - - - - -
Capital Outlay 431,189 294,030 137,159 2,258,494 67,952 2,190,542 Debt Service:
Principal Repayment - - - - - -
Interest and Fiscal Charges - - - - - -
Total Expenditures 2,437,621 1,955,267 482,354 4,843,321 2,461,889 2,381,432 .
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (740,997) (115,058) 625,939 (2,479,312) 109,407 2,588,719 OTHER FINANCING SOURCES (USES):
Issuance of Subscription Liability - - - - - -
Transfers In - 361,406 361,406 492,384 492,384 - Transfers (Out) - - - (191,740) (191,740) - Total Other Financing Sources (Uses) - 361,406 361,406 300,644 300,644 - Net Changes in Fund Balances (740,997)$ 246,348 987,345$ (2,178,668)$ 410,051 2,588,719$ Fund Balances (Deficit) at Beginning of Year 1,926,663 8,526,793 Fund Balances (Deficit) at End of Year 2,173,011$ 8,936,844$ 138
HEALTH CARE DISTRICT ASSET FORFEITURE VEHICLE ABATEMENT Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) 406,000$ 468,791$ 62,791$ -$ -$ -$ -$ -$ -$ - - - - - - - - -
- - - - - - - - -
- - - - - - 100,000 112,192 12,192
- - - - - - - - -
- - - - 105,441 105,441 - - -
6,617 30,624 24,007 7,869 15,014 7,145 6,259 10,700 4,441 25,000 25,000 - - - - - - -
437,617 524,415 86,798 7,869 120,455 112,586 106,259 122,892 16,633 - - - - - - - - -
- - - 75,000 - 75,000 111,140 98,981 12,159 - - - - - - - - -
758,676 622,927 135,749 - - - - - - - - - - - - - - -
- - - 187,663 60,535 127,128 - - - - - - - - - - - -
- - - - - - - - -
758,676 622,927 135,749 262,663 60,535 202,128 111,140 98,981 12,159 (321,059) (98,512) 222,547 (254,794) 59,920 314,714 (4,881) 23,911 28,792 - - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
(321,059)$ (98,512) 222,547$ (254,794)$ 59,920 314,714$ (4,881)$ 23,911 28,792$ 868,999 396,663 270,170
770,487$ 456,583$ 294,081$
(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, 2025
PUBLIC EDUCATION AND GOVERNMENT GENERAL PLAN REIMBURSEMENT FEE Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)
REVENUES:
Taxes - $ - $ -$ - $ - $ -$
Licenses and Permits - - - - - -
Franchises 321,000 346,140 25,140 - - - Intergovernmental - - - - - -
Charges for Services - - - 280,000 431,601 151,601 Fines, Forfeitures and Penalties - - - - - -
Use of Money and Property 35,830 46,478 10,648 61,989 171,438 109,449 Other - - - - - -
Total Revenues 356,830 392,618 35,788 341,989 603,039 261,050 EXPENDITURES:
Current:
General Government 220,000 173,206 46,794 - - - Public Safety - - - - - -
Public Works - - - - - -
Community and Economic Development - 78,446 (78,446) - - - Recreation Services - - - - - -
Capital Outlay 1,095,994 61,505 1,034,489 2,331,117 56,197 2,274,920 Debt Service:
Principal Repayment - - - - - -
Interest and Fiscal Charges - - - - - -
Total Expenditures 1,315,994 313,157 1,002,837 2,331,117 56,197 2,274,920
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (959,164) 79,461 1,038,625 (1,989,128) 546,842 2,535,970 OTHER FINANCING SOURCES (USES):
Issuance of Subscription Liability - - - - - -
Transfers In - - - - 93,394 93,394
Transfers (Out) - - - - (22,248) (22,248)
Total Other Financing Sources (Uses) - - - - 71,146 71,146 Net Changes in Fund Balances (959,164)$ 79,461 1,038,625$ (1,989,128)$ 617,988 2,607,116$ Fund Balances (Deficit) at Beginning of Year 1,090,315 3,783,733 Fund Balances (Deficit) at End of Year 1,169,776$ 4,401,721$ 140
CANNABIS COMMUNITY
TECHNOLOGY FEE TREE FUND BENEFIT FUND
Variance Variance Variance
Positive Positive Positive
Budget Actual (Negative) Budget Actual (Negative) Budget Actual (Negative) -$ -$ -$ -$ -$ -$ -$ -$ -$
- - - - 52,881 52,881 - - -
- - - - - - - - -
- - - - - - - - -
498,000 599,331 101,331 - 52,450 52,450 - - - - - - - - - - - -
43,023 168,404 125,381 1,088 4,047 2,959 25,926 25,926 - - - - - - 337,000 357,331 20,331 541,023 767,735 226,712 1,088 109,378 108,290 337,000 383,257 46,257 - - - - - - - - -
- - - - - - 128,001 128,158 (157)
- - - - 3,074 (3,074) - - - 566,756 16,922 549,834 - - - 292,912 208,018 84,894 - - - - - - - - -
315,100 185,039 130,061 - - - - - - - 45,835 (45,835) - - - - - -
- - - - - - - - -
881,856 247,796 634,060 - 3,074 (3,074) 420,913 336,176 84,737 (340,833) 519,939 860,772 1,088 106,304 105,216 (83,913) 47,081 130,994 - 185,039 185,039 - - - - - -
- - - - - - - - -
- - - - - - - (26,449) (26,449)
- 185,039 185,039 - - - - (26,449) (26,449) (340,833)$ 704,978 1,045,811$ 1,088$ 106,304 105,216$ (83,913)$ 20,632 104,545$ 3,617,350 56,766 626,890
4,322,328$ 163,070$ 647,522$
(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, 2025
OPIOID SETTLEMENT FUND ASSESSMENT DISTRICTS
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 - 13,301 13,301 212 204 (8) Other - 100,117 100,117 - - - Total Revenues - 113,418 113,418 212 204 (8) EXPENDITURES:
Current:
General Government - - - - - - Public Safety 100,000 100,117 (117) - - - Public Works - - - - - - Community and Economic Development - - - - - - Recreation Services - - - - - - Capital Outlay - - - - - - Debt Service:
Principal Repayment - - - - - - Interest and Fiscal Charges - - - - - - Total Expenditures 100,000 100,117 (117) - - -
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (100,000) 13,301 113,301 212 204 (8) OTHER FINANCING SOURCES (USES):
Issuance of Subscription Liability - - - - - - Transfers In - - - - - - Transfers (Out) - - - - - - Total Other Financing Sources (Uses) - - - - - - Net Changes in Fund Balances (100,000)$ 13,301 113,301 $ 212 $ 204 (8)$ Fund Balances (Deficit) at Beginning of Year 5,648 (757) Fund Balances (Deficit) at End of Year 18,949 $ (553)$ 142
ENERGY LEASE INFRASTRUCTURE LEASE AGREEMENT
Variance Variance
Positive Positive
Budget Actual (Negative) Budget Actual (Negative)
-$ -$ -$ -$ -$ -$
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
880,000 880,000 - 4,185,000 4,185,000 - 58,380 58,380 - 3,313,300 3,297,415 15,885 938,380 938,380 - 7,498,300 7,482,415 15,885 (938,380) (938,380) - (7,498,300) (7,482,415) 15,885 - - - - - -
938,380 938,380 - 7,498,300 7,498,300 - - - - - - -
938,380 938,380 - 7,498,300 7,498,300 - -$ - -$ -$ 15,885 15,885$
1 40,443
1$ 56,328$
143
This Page Left Intentionally Blank
CITY OF CONCORD JUNE 30, 2025
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:
Workers' 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-reimbursable portion of insurance claims.
Post-Retirement Health Care 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, 2025
Risk Post-Retirement Fleet
Workers' Mana gement/ Healthcare Maintenance/
Compensation Liabilit y Benefit Re placement
ASSETS
Current Assets:
Cash and Investments 29,490,418$ 4,083,441$ -$ 9,029,886$ Accounts Receivable 811 - 3,303,897 5,236
Prepaid items - - - -
Total Current Assets 29,491,229 4,083,441 3,303,897 9,035,122 Advances to Other Funds 4,303,846 - - -
Capital Assets
Buildings and Improvements - - - -
Equipment - - - 16,516,267
Intangible Asset - - - -
Construction In Progress - - - 811,972
Less: Accumulated Depreciation - - - (14,013,501)
Net Capital Assets - - - 3,314,738
Total Assets 33,795,075 4,083,441 3,303,897 12,349,860
LIABILITIES
Current Liabilities:
Accounts Payable - - - -
Accrued Liabilities 395 - - 18,382
Due to Other Funds - - 2,859,682 -
Interest Payable - - - -
Compensated Absences Payable - - - 39,531
Lease Payable - - - -
Claims Payable 2,542,054 560,083 - - Subscription Liability - - - -
Total Current Liabilities 2,542,449 560,083 2,859,682 57,913 Non-Current Liabilities
Compensated Absences Payable - - - 8,354
Claims Payable 12,216,428 1,724,469 - - Long-Term Debt:
Due in More Than One Year - - - -
Subscription Liability:
Due in More Than One Year - - - -
Total Non-Current Liabilities 12,216,428 1,724,469 - 8,354 Total Liabilities 14,758,877 2,284,552 2,859,682 66,267
NET POSITION
Net Investment in Capital Assets - - - 3,314,738
Unrestricted 19,036,198 1,798,889 444,215 8,968,855 Total Net Position 19,036,198$ 1,798,889$ 444,215$ 12,283,593$ 146
Information
Technology Building Compensated
Replacement Maintenance Absences Total
15,495,148$ 2,060,174$ 578,005$ 60,737,072$ - - - 3,309,944
2,241,668 - - 2,241,668
17,736,816 2,060,174 578,005 66,288,684 - - - 4,303,846
- 49,430,154 - 49,430,154
28,944,116 - - 45,460,383
2,598,769 - - 2,598,769
1,659,939 838,423 - 3,310,334
(26,544,406) (36,665,208) - (77,223,115)
6,658,418 13,603,369 - 23,576,525
24,395,234 15,663,543 578,005 94,169,055 - 37,979 - 37,979
68,672 44,740 - 132,189
- - - 2,859,682
43,382 - - 43,382
150,601 101,106 4,879,578 5,170,816 376,817 - - 376,817
- - - 3,102,137
600,081 - - 600,081
1,239,553 183,825 4,879,578 12,323,083 281,586 16,892 8,660,958 8,967,790 - - - 13,940,897
387,051 - - 387,051
1,228,970 - - 1,228,970
1,897,607 16,892 8,660,958 24,524,708 3,137,160 200,717 13,540,536 36,847,791 4,065,499 13,603,369 - 20,983,606
17,192,575 1,859,457 (12,962,531) 36,337,658 21,258,074$ 15,462,826$ (12,962,531)$ 57,321,264$ 147
CITY OF CONCORD
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN FUND NET POSITION
FOR THE YEAR ENDED JUNE 30, 2025
Risk Post-Retirement Flee t
Workers' Mana gement/ Healthcare Maintenance /
Compensation Liabilit y Benefit Replacement
OPERATING REVENUES
Charges for services 4,441,426$ 2,171,386$ 4,522,352$ 4,348,020$ Other 64,651 480,100 3,300,000 19,289 Total Operating Revenues 4,506,077 2,651,486 7,822,352 4,367,309
OPERATING EXPENSES
Operations and Maintenance 962,705 2,481,653 7,775,978 3,103,171 Cost of Sales and Services - - 41,743 -
Depreciation - - - 1,236,823
Claims and Judgments 1,606,483 489,867 - - Total Operating Expenses 2,569,188 2,971,520 7,817,721 4,339,994 Operating Income (Loss) 1,936,889 (320,034) 4,631 27,315
NONOPERATING REVENUES (EXPENSES)
Interest and Other Income 1,162,562 148,953 - 411,029 Interest and Other Expenses - - - -
Gain (loss) on sale of capital assets - - - 198,156
Total Non-Operating Revenues (Expenses) 1,162,562 148,953 - 609,185 Income (Loss) Before Transfers 3,099,451 (171,081) 4,631 636,500 Capital Contributions - - - -
Transfers In - - - -
Transfers Out - - - -
Net Contributions and Transfers - - - -
Changes in Net Position 3,099,451 (171,081) 4,631 636,500 Net Position - Beginning, as Previously Reported 15,936,747 1,969,970 439,584 11,661,555 Adjustment - Change in Accounting Principle - - - (14,462) Total Net Position - Beginning, as Adjusted 15,936,747 1,969,970 439,584 11,647,093 Net Position (Deficit) Ending 19,036,198$ 1,798,889$ 444,215$ 12,283,593$ 148
Information
Technology Building Compensated
Replacement Maintenance Absences Total
11,331,567$ 3,894,950$ 282,270$ 30,991,971$ - - - 3,864,040
11,331,567 3,894,950 282,270 34,856,011 9,703,180 4,339,997 728,327 29,095,011 - - - 41,743
1,764,625 1,320,237 - 4,321,685
- - - 2,096,350 -
11,467,805 5,660,234 728,327 35,554,789 (136,238) (1,765,284) (446,057) (698,778) 787,856 102,083 18,300 2,630,783 (73,615) - - (73,615)
- - - 198,156
714,241 102,083 18,300 2,755,324 578,003 (1,663,201) (427,757) 2,056,546 797,275 933,006 - 1,730,281
65,979 521,541 - 587,520
- (225,211) - (225,211)
863,254 1,229,336 - 2,092,590
1,441,257 (433,865) (427,757) 4,149,136 19,944,126 15,917,061 (5,883,292) 59,985,751 (127,309) (20,370) (6,651,482) (6,813,623) 19,816,817 15,896,691 (12,534,774) 53,172,128 21,258,074$ 15,462,826$ (12,962,531)$ 57,321,264$ 149
CITY OF CONCORD
INTERNAL SERVICE FUNDS
COMBINING STATEMENTS OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2025
Risk Post-Retiremen t Fleet
Workers' Mana gement/ Healthcare Maintenance /
Compensation Liabilit y Benefit Replacement
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from Customers 3,551,505$ 169,833$ 4,518,455$ 4,426,532$ Payments to Suppliers - - (4,517,721) (2,059,131) Payments to Employees - - - (1,037,332)
Claims Paid (1,465,480) (949,885) - - Net Cash Provided by (Used for)
Operating Activities 2,086,025 (780,052) 734 1,330,069
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Borrowings of Advances From/To Other Funds 76,923 - (734) - Transfers In - - - -
Transfers (Out) - - - -
Net Cash Provided by (used for) Non-Capital
Financing Activities 76,923 - (734) -
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition and Construction of Capital Assets - - - (2,492,209) Proceeds from Sale of Capital Assets - - - 198,156
Principal Paid on Subscription Liability - - - -
Principal Paid on Debt, Bond Maturities - - - -
Interest and Fiscal Charges Paid - - - -
Net Cash Provided by (used for) Capital and
Related Financing Activities - - - (2,294,053)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest Received 1,162,562 148,953 - 411,029 Net Cash Provided by (used for) Investing Activities 1,162,562 148,953 - 411,029 Net Increase (Decrease) in Cash and
Cash Equivalents 3,325,510 (631,099) - (552,955) Cash and Investments at Beginning of Period 26,164,908 4,714,540 - 9,582,841 Cash and Investments at End of Period 29,490,418$ 4,083,441$ -$ 9,029,886$ Reconciliation of Operating Income (Loss)
to Net Cash Provided by Operating Activities:
Operating Income (Loss) 1,936,889$ (320,034)$ 4,631$ 27,315$ Adjustments to Reconcile Operating Income
to Net Cash Provided by Operating Activities:
Depreciation - - - 1,236,823
Change in Assets and Liabilities:
Receivables, Net 7,738 - (3,897) 59,223
Prepaid items - - - -
Accounts Payable - - - (743)
Accrued liabilities 395 - - (894)
Compensated Absences - - - 8,345
Self Insurance Claims Payable 141,003 (460,018) - - Net Cash Provided by (Used for) Operating Activities 2,086,025$ (780,052)$ 734$ 1,330,069$ NONCASH TRANSACTIONS:
Contributions of Capital Assets, Net -$ -$ -$ -$
Subscription Assets -$ -$ -$ -$
Issuance of Subscription Liability -$ -$ -$ -$
150Page 182 of 232
Information
Technology Building Compensated
Replacement Maintenance Absences Total
9,089,914$ 3,894,950$ 282,270$ 25,933,459$ (6,325,751) (2,627,474) - (15,530,077)
(3,314,020) (1,632,211) - (5,983,563)
- - - (2,415,365)
(549,857) (364,735) 282,270 2,004,454
- - - 76,189
65,979 521,541 - 587,520
- (225,211) - (225,211)
65,979 296,330 - 438,498
(1,958,463) (645,191) - (5,095,863)
- - - 198,156
(632,729) - - (632,729)
(366,854) - - (366,854)
(51,574) - - (51,574)
(3,009,620) (645,191) - (5,948,864)
787,856 102,083 18,300 2,630,783
787,856 102,083 18,300 2,630,783
(2,705,642) (611,513) 300,570 (875,129)
18,200,790 2,671,687 277,435 61,612,201
15,495,148$ 2,060,174$ 578,005$ 60,737,072$ (136,238)$ (1,765,284)$ (446,057)$ (698,778)$ 1,764,625 1,320,237 - 4,321,685
15 - - 63,079
(2,241,668) - - (2,241,668)
(813) 35,863 - 34,307
19,054 14,549 - 33,104
45,168 29,900 728,327 811,740
- - - (319,015)
(549,857)$ (364,735)$ 282,270$ 2,004,454$
797,275$ 933,006$ -$ 1,730,281$
2,461,780$ -$ -$ 2,461,780$
(2,461,780)$ -$ -$ (2,461,780)$
151 Page 183 of 232
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CITY OF CONCORD JUNE 30, 2025
STATISTICAL TABLES AND OTHER SCHEDULES (UNAUDITED)
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CITY OF CONCORD JUNE 30, 2025
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
• Change 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)
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Governmental Activities
Net Investment in Capital
Assets $589,252,002 $587,171,677 $582,183,019 $572,790,039 $561,198,070 $541,706,437 $530,314,569 $541,793,735 $535,954,953 $545,865,886 Restricted 40,851,626 66,326,202 62,391,506 64,537,706 65,058,755 66,839,604 91,225,647 83,044,107 103,160,550 99,700,184 Unrestricted (47,810,150) (75,116,464) (110,301,555) (119,503,391) (123,583,432) (110,262,539) (94,017,430) (74,085,369) (76,593,860) (83,100,712) Total Governmental
Activities Net
Position $582,293,478 $578,381,415 $534,272,970 $517,824,354 $502,673,393 $498,283,502 $527,522,786 550,752,473 562,521,643 562,465,358 Business-Type Activities
Net Investment in Capital
Assets $50,820,240 $47,536,924 $46,948,620 $49,674,672 $50,328,261 $50,550,507 $49,463,249 $50,861,258 $52,934,508 $61,905,449 Restricted
Unrestricted 15,646,475 21,202,439 24,478,697 25,679,978 28,073,896 33,477,518 42,948,704 49,809,226 57,168,540 60,120,062 Total Business-
Type Activities Net $66,466,715 $68,739,363 $71,427,317 $75,354,650 $78,402,157 $84,028,025 $92,411,953 $100,670,484 $110,103,048 $122,025,511 Primary Government
Net Investment in Capital
Assets $640,072,242 $634,708,601 $629,131,639 $622,464,711 $611,526,331 $592,256,944 $579,777,818 $592,654,993 $588,889,461 $607,771,335 Restricted 40,851,626 66,326,202 62,391,506 64,537,706 65,058,755 66,839,604 91,225,647 83,044,107 103,160,550 99,700,184 Unrestricted (32,163,675) (53,914,025) (85,822,858) (93,823,413) (95,509,536) (76,785,021) (51,068,726) (24,276,143) (19,425,320) (22,980,650) Total Primary
Government Net
Position $648,760,193 $647,120,778 $605,700,287 $593,179,004 $581,075,550 $582,311,527 $619,934,739 $651,422,957 $672,624,691 $684,490,869 Fiscal Year Ended June 30,
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Millions
Net Investment in Capital Assets Restricted Unrestricted 157
Table 2: Changes in Net Position
Last Ten Fiscal Years (Accrual Basis of Accounting)
2016 2017 2018 2019 2020
Expenses
Governmental Activities:
General Government $13,936,670 $16,582,756 $19,717,835 $39,757,686 $39,791,046 Public Safety 48,436,133 55,692,961 61,111,308 68,736,160 72,492,181 Public Works 20,568,699 35,438,199 36,908,454 15,317,513 14,497,917 Community Development 14,089,870 13,965,084 15,904,601 18,245,689 17,769,196 Economic Development and Base Reuse
Parks and Recreation 5,062,929 5,886,667 5,439,542 7,147,114 7,069,156 Recreation Services
Interest on Long Term Debt 1,216,836 1,160,987 1,494,780 1,020,071 941,699 Total Governmental Activities Expenses 103,311,137 128,726,654 140,576,520 150,224,233 152,561,195 Business-Type Activities:
Sewer 26,720,865 27,761,599 31,036,421 32,911,331 36,565,521 Golf Course 1,530,829 1,456,261 1,484,585 1,447,348 1,601,547 Total Business-Type Activities Expenses 28,251,694 29,217,860 32,521,006 34,358,679 38,167,068 Total Primary Government Expenses $131,562,831 $157,944,514 $173,097,526 $184,582,912 $190,728,263 Program Revenues
Governmental Activities:
Charges for Services:
General Government $1,597,487 1,612,058 1,595,480 843,783 898,676 Public Safety 1,384,021 1,228,543 1,401,039 1,269,483 1,495,111 Public Works 568,733 1,491,617 1,068,348 636,304 3,405,245 Community Development 5,307,348 7,165,958 6,945,682 7,901,518 7,099,717 Economic Development and Base Reuse
Parks and Recreation 2,732,366 2,859,377 3,131,394 2,959,467 2,098,265 Recreation Services
Operating Grants and Contributions 38,455,430 6,909,863 4,654,854 4,377,022 3,970,247 Capital Grants and Contributions 9,732,184 11,109,794 14,048,546 13,505,029 11,815,948 Total Governmental Activities Program Revenues 59,777,569 32,377,210 32,845,343 31,492,606 30,783,209 Business-Type Activities:
Charges for Services:
Sewer Wastewater 27,319,039 29,921,759 33,133,014 35,880,678 38,409,908 Golf Course 1,406,707 1,329,987 1,510,340 1,476,636 1,632,993 Capital Grants and Contributions 173 16,427
Total Business-Type Activities Program Revenue 28,725,919 31,251,746 34,659,781 37,357,314 40,042,901 Total Primary Government Program Revenues $88,503,488 $63,628,956 $67,505,124 $68,849,920 $70,826,110 Net (Expense)/Revenue
Governmental Activities ($43,533,568) ($96,349,444) ($107,731,177) ($118,731,627) ($121,777,986) Business-Type Activities 474,225 2,033,886 2,138,775 2,998,635 1,875,833 Total Primary Government Net Expense ($43,059,343) ($94,315,558) ($105,592,402) ($115,732,992) ($119,902,153) General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property Taxes $18,211,711 $19,185,672 $20,469,886 $21,818,338 $23,212,753 Sales Taxes 12,134,557 46,004,776 48,474,643 49,185,212 48,059,150 Transient Occupancy Taxes 2,713,073 2,917,223 3,039,725 2,933,099 2,531,487 Business License Taxes 3,521,309 3,738,976 3,795,848 4,015,577 3,792,877 Other Taxes 7,222,669 7,623,072 8,174,327 8,282,066 9,059,762 Motor Vehicle In-Lieu 9,519,809 10,056,999 10,610,977 11,445,342 12,195,444 Investment Earnings 2,631,738 2,910,663 3,531,722 4,146,894 6,676,564 Miscellaneous Revenues (482,500)
Restructure Investment in Partnership
Transfers
Gain (Loss) on Sale of Land 1,098,988
assumed by Successor Agency 456,483
Total Governmental Activities 55,472,366 92,437,381 98,097,128 102,283,011 106,627,025 Business-Type Activities:
Investment Earnings 127,810 221,459 549,179 928,698 1,171,674 Miscellaneous Revenues 50,000 17,303
Transfers
Total Business-Type Activities 177,810 238,762 549,179 928,698 1,171,674 Total Primary Government $55,650,176 $92,676,143 $98,646,307 $103,211,709 $107,798,699 Change in Net Position
Governmental Activities $11,938,798 ($3,912,063) ($9,634,049) ($16,448,616) ($15,150,961) Business-Type Activities 652,035 2,272,648 2,687,954 3,927,333 3,047,507 Total Primary Government $12,590,833 ($1,639,415) ($6,946,095) ($12,521,283) ($12,103,454) Note: (a) In FY 2020-21, Economic Development was transferred from Community Development to Economic Development and Base Reuse. (b) In FY 2022-23, Parks and Recreation was changed to Recreation Services.
Fiscal Year Ended June 30,
158
Table 2: Changes in Net Position (continued)
Last Ten Fiscal Years (Accrual Basis of Accounting)
2021 (a) 2022 2023 (b) 2024 2025
Expenses
Governmental Activities:
General Government $39,002,810 $42,401,112 $52,864,575 $47,030,092 $51,025,296 Public Safety 66,267,792 55,878,311 73,229,387 83,444,438 83,368,841 Public Works 13,593,654 13,612,352 16,920,422 22,191,147 23,885,615 Community Development 15,430,089 11,981,076 14,587,310 16,603,954 16,919,920 Economic Development and Base Reuse 4,211,689 1,510,058 3,382,778 3,719,883 2,590,588 Parks and Recreation 6,041,570 7,031,117
Recreation Services 8,241,853 9,119,025 9,346,714
Interest on Long Term Debt 1,439,649 4,157,942 3,454,831 3,389,685 3,138,515 Total Governmental Activities Expenses 145,987,253 136,571,968 172,681,156 185,498,224 190,275,489 Business-Type Activities:
Sewer 35,308,937 33,219,397 37,063,467 40,166,092 40,237,125 Golf Course 1,676,402 1,801,508 1,792,022 1,768,855 1,915,236 Total Business-Type Activities Expenses 36,985,339 35,020,905 38,855,489 41,934,947 42,152,361 Total Primary Government Expenses $182,972,592 $171,592,873 $211,536,645 $227,433,171 $232,427,850 Program Revenues
Governmental Activities:
Charges for Services:
General Government 908,898 1,626,091 2,563,554 3,494,169 4,035,342 Public Safety 723,768 1,140,958 1,199,134 1,224,079 1,732,819 Public Works 1,350,050 2,464,246 4,846,873 931,669 781,970 Community Development 7,857,293 8,272,450 9,083,836 7,207,018 8,172,986 Economic Development and Base Reuse 2,709 7,095 10,562 15,782 Parks and Recreation 1,577,804 3,802,648
Recreation Services 4,214,177 4,666,002 5,230,799
Operating Grants and Contributions 5,163,840 9,552,896 12,833,308 18,465,027 10,064,896 Capital Grants and Contributions 13,418,012 13,325,322 21,010,002 16,436,451 21,783,917 Total Governmental Activities Program Revenues 31,002,374 40,191,706 55,761,446 52,440,197 51,802,729 Business-Type Activities:
Charges for Services:
Sewer Wastewater 39,723,870 41,236,631 43,692,942 46,083,285 47,715,585 Golf Course 2,610,973 2,359,290 2,208,772 2,400,026 2,705,041 Capital Grants and Contributions
Total Business-Type Activities Program Revenue 42,334,843 43,595,921 45,901,714 48,483,311 50,420,626 Total Primary Government Program Revenues $73,337,217 $83,787,627 $101,663,160 $100,923,508 $102,223,355 Net (Expense)/Revenue
Governmental Activities ($114,984,879) ($96,380,262) ($116,919,710) ($133,058,027) ($138,472,760) Business-Type Activities 5,349,504 8,575,016 7,046,225 6,548,364 8,268,265 Total Primary Government Net Expense ($109,635,375) ($87,805,246) ($109,873,485) ($126,509,663) ($130,204,495) General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property Taxes $24,115,482 $25,239,418 $26,509,921 $27,476,825 $27,838,179 Sales Taxes 58,795,766 73,890,982 74,807,013 72,488,906 71,823,694 Transient Occupancy Taxes 1,960,534 2,197,673 2,259,583 2,457,149 2,469,018 Business License Taxes 3,685,324 4,016,929 4,224,521 4,184,939 4,295,723 Other Taxes 8,592,910 8,811,400 9,628,418 10,373,409 10,691,099 Motor Vehicle In-Lieu 12,784,112 13,236,505 14,205,304 14,968,077 15,225,057 Investment Earnings 666,435 (1,770,361) 8,422,432 12,877,892 12,888,401 Miscellaneous Revenues
Restructure Investment in Partnership
Transfers (5,575) (3,000) 73,443 (1,073)
Gain (Loss) on Sale of Land 18,762
assumed by Successor Agency
Total Governmental Activities 110,594,988 125,619,546 140,149,397 144,827,197 145,230,098 Business-Type Activities:
Investment Earnings 270,789 (194,088) 1,285,749 2,884,200 3,606,774 Miscellaneous Revenues
Transfers 5,575 3,000 (73,443) 1,073
Total Business-Type Activities 276,364 -191,088 1,212,306 2,884,200 3,607,847 Total Primary Government $110,871,352 $125,428,458 $141,361,703 $147,711,397 $148,837,945 Change in Net Position
Governmental Activities ($4,389,891) $29,239,284 $23,229,687 $11,769,170 $6,757,338 Business-Type Activities 5,625,868 8,383,928 8,258,531 9,432,564 11,876,112 Total Primary Government $1,235,977 $37,623,212 $31,488,218 $21,201,734 $18,633,450 Fiscal Year Ended June 30,
159
Table 3: Fund Balance of Governmental Funds
Last Ten Fiscal Years (Modified Accrual Basis of Accounting) 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
General Fund
Nonspendable $7,678,457 $9,459,544 $9,445,016 $8,386,175 $11,746,479 $11,804,305 $11,881,228 $12,057,873 $12,472,987 $12,563,411 Restricted 14,424 12,180 10,101 872,011 1,173,144 1,545,386 1,905,754 1,722,631 Assigned 4,475,678 1,923,138 2,067,659 2,029,710 1,983,462 3,304,968 3,314,375 4,097,068 4,654,825 14,507,843 Unassigned 23,648,756 28,174,416 26,940,887 32,178,645 29,029,216 42,634,838 45,490,014 47,661,556 51,114,683 44,389,942 Total General
Fund $35,802,891 $39,557,098 $38,467,986 $42,606,710 $42,769,258 $58,616,122 $61,858,761 $65,361,883 $70,148,249 $73,183,827 All Other Governmental Funds
Nonspendable $4,646,748 $11,784 $2,561,514
Restricted 67,547,802 66,326,202 62,391,506 $70,914,380 $71,493,015 $187,787,269 $192,238,110 $151,097,469 $130,443,671 $100,893,227 Assigned 3,765,571 4,861,181 5,609,181 3,565,866 6,872,198 7,556,051 23,327,936 38,463,053 39,563,483 34,787,772 Unassigned (1,423) (1,380) (1,320) (1,230) (1,144) (52,993) (1,045) (2,505,751) (757) (3,742,696) Total All Other
Governmental
Funds $75,958,698 $71,197,787 $70,560,881 $74,479,016 $78,364,069 $195,290,327 $215,565,001 $187,054,771 $170,006,397 $131,938,303 $0
$5
$10
$15
$20
$25
$30
$35
$40
$45
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Millions
Nonspendable Restricted Assigned Unassigned
160
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Table 4: Change in Fund Balance of Governmental Funds Last Ten Fiscal Years (Modified Accrual Basis of Accounting) 2016 2017 2018 2019 2020
Revenues
Taxes $53,323,128 $89,526,717 $94,565,406 $97,679,634 $98,461,535 Motor Vehicle in Lieu, Unrestricted
Licenses and Permits 2,190,733 3,457,297 3,249,276 2,483,185 4,997,645 Intergovernmental 46,499,748 12,386,529 14,019,651 16,676,525 11,521,918 Charges for Services 5,876,652 7,317,423 7,042,046 8,041,075 8,075,358 Fines, Forfeitures and Penalties 774,534 723,440 719,231 935,560 718,220 Parks and Recreation 2,831,036 2,859,377 3,131,397 2,959,467 1,845,834 Recreation Services
Use of Money and Property 2,354,703 2,594,695 3,079,499 3,789,572 6,135,591 Special Assessment Collections 8,486
Other 1,768,268 4,737,973 5,502,246 5,171,706 5,244,106 Total Revenues 115,618,802 123,603,451 131,308,752 137,736,724 137,008,693 Expenditures
Current:
General Government 15,581,374 15,525,619 19,243,077 15,978,713 16,665,500 Public Safety 50,507,794 54,183,706 57,813,409 59,348,021 61,971,216 Public Works 11,854,456 12,282,569 12,683,894 13,107,750 13,394,012 Economic Development and Base Reuse
Community Development 14,294,898 13,648,938 15,688,158 17,529,921 17,188,821 Parks and Recreation 5,004,907 5,311,993 5,340,701 5,689,238 5,690,676 Recreation Services
Capital Outlay 8,653,279 19,124,097 17,831,088 13,442,007 12,166,259 Debt Service:
Principal Repayment 3,355,956 3,394,025 3,340,000 3,622,000 3,703,000 Interest and Fiscal Charges 1,220,728 1,182,775 1,464,343 1,014,616 967,893 Total Expenditures 110,473,392 124,653,722 133,404,670 129,732,266 131,747,377 Excess (Deficiency) of Revenues Over
(Under) Expenditures 5,145,410 (1,050,271) (2,095,918) 8,004,458 5,261,316 Other Financing Sources (Uses)
Transfers In 12,921,595 6,911,566 10,983,035 10,424,941 8,822,097 Transfers (Out) (13,676,209) (6,867,999) (10,807,816) (10,372,540) (11,134,800) Issuance of Lease
Issuance of Subscription Liability
Issuance of long-term debt
Bond issuance premium
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) (754,614) 43,567 369,900 52,401 (1,213,715) Special/Extraordinary Items
Loans Receivable - Change in accounting Policy
Partnership Note Restructuring
by the Successor Agency
Total Special/Extraordinary Items
Net Change in Fund Balances $4,390,796 ($1,006,704) ($1,726,018) $8,056,859 $4,047,601 Debt Service as a Percentage of
Non-Capital Expenditures 3.4% 5.3% 4.1% 4.0% 3.9%
(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. (c) In FY 2022-23, Parks and Recreation was changed to Recreation Services.
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) 2021 (a)(b) 2022 2023 (c) 2024 2025
Revenues
Taxes $97,076,921 $114,156,402 $117,429,456 $116,981,228 $117,117,713 Motor Vehicle in Lieu, Unrestricted 12,784,112 13,236,505 14,205,304 14,968,077 15,225,057 Licenses and Permits 3,314,719 4,206,114 7,042,942 2,753,071 2,847,733 Intergovernmental 16,345,516 21,686,331 27,484,215 28,486,564 21,168,593 Charges for Services 7,965,906 8,779,626 9,233,147 7,717,376 9,096,631 Fines, Forfeitures and Penalties 294,925 423,599 383,865 438,582 548,378 Parks and Recreation 1,329,657 2,565,628
Recreation Services 2,981,963 3,593,415 3,703,211
Use of Money and Property 687,412 (1,423,041) 8,925,372 14,000,136 13,287,640 Special Assessment Collections 6,033 7,795 8,307 8,064 8,478 Other 1,432,252 1,743,048 3,212,937 4,067,730 10,971,110 Total Revenues 141,237,453 165,382,007 190,907,508 193,014,243 193,974,544 Expenditures
Current:
General Government 15,861,573 20,463,554 29,444,413 20,987,484 22,254,487 Public Safety 58,860,621 64,666,878 70,065,930 74,712,733 79,210,954 Public Works 13,534,439 15,578,502 17,188,953 21,400,745 24,555,185 Economic Development and Base Reuse 4,213,506 1,582,886 3,376,782 3,731,331 2,643,929 Community Development 15,576,523 13,370,779 26,014,516 16,360,816 17,552,527 Parks and Recreation 4,933,881 6,279,567
Recreation Services 6,987,850 7,464,436 7,967,476
Capital Outlay 6,054,893 10,736,298 34,220,336 51,205,173 65,352,994 Debt Service:
Principal Repayment 12,790,000 4,954,286 5,107,104 5,249,619 5,573,811 Interest and Fiscal Charges 1,595,584 3,831,468 4,177,834 4,133,530 3,880,123 Total Expenditures 133,421,020 141,464,218 196,583,718 205,245,867 228,991,486 Excess (Deficiency) of Revenues Over
(Under) Expenditures 7,816,433 23,917,789 (5,676,210) (12,231,624) (35,016,942) Other Financing Sources (Uses)
Transfers In 6,108,973 27,533,602 23,764,666 29,261,000 22,421,660 Transfers (Out) (5,919,471) (27,934,078) (24,564,330) (29,291,384) (22,785,042) Issuance of Lease 162,769
Issuance of Subscription Liability 185,039
Issuance of long-term debt 109,480,000 1,666,291
Bond issuance premium 15,287,187
Proceeds from Sale of Property 18,762
Proceeds from Refunding Bonds
Proceeds from Debt Issuance
Payments to Refunded Bond Escrow
Total Other Financing Sources (Uses) 124,956,689 (400,476) 885,389 (30,384) (15,574) Special/Extraordinary Items
Loans Receivable - change in accounting policy (20,216,287) Partnership Note Restructuring
by the Successor Agency
Total Special/Extraordinary Items (20,216,287)
Net Change in Fund Balances $132,773,122 $23,517,313 ($25,007,108) ($12,262,008) ($35,032,516) Debt Service as a Percentage of
Non-Capital Expenditures 11.3% 6.7% 5.8% 6.1% 5.7%
(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. (c) In FY 2022-23, Parks and Recreation was changed to Recreation Services.
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) 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% 2023 18,583,719,026 2,744,161,774 21,327,880,800 625,166,133 21,953,671,623 21,953,671,623 1% 2024 19,541,631,194 2,886,286,947 22,427,918,141 680,772,390 23,109,315,221 23,109,315,221 1% 2025 20,337,377,595 2,648,640,164 22,986,017,759 655,525,979 23,642,168,428 23,642,168,428 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
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Billions
Unsecured Property Secured Property
164
Table 6: Property Tax Rates, Direct and Overlapping Governments Last Ten Fiscal Years
Contra 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 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
2023 1.0000 0.0140 0.0021 0.0058 0.0972 1.1191
2024 1.0000 0.0134 0.0020 0.0057 0.0856 1.1067
2025 1.0000 0.0148 0.0019 0.0013 0.0831 1.1011
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
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Per Hundred $
Contra Costa Water Land Levy
Mt. Diablo Unified School District & Community College
East Bay Regional Park District
Bay Area Rapid Transit
Baisc 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 $249,018,512 1 1.11% $176,017,081 1 1.26% Concord Centercal Owner LLC Commercial 205,000,000 2 0.91% 69,203,965 6 0.49% Renaissance Res Holdings LLC Residential 154,309,748 3 0.69% Sequoia Equities Concord PC LLC Residential 128,313,174 4 0.57% Willows Center Concord Commercial 122,007,400 5 0.54% 63,191,283 8 0.45% HM Grant Street LLC Residential 118,512,445 6 0.53%
Concord Technology Center Properties Commercial 105,002,291 7 0.47% AD Seeno Construction Company Inc Commercial 90,620,712 8 0.40% Gonsalves and Santucci, Inc Industrial 88,812,850 9 0.40% Clayton Valley Shopping Center Commercial 83,015,765 10 0.37% 69,234,728 5 0.49% DWF III Concord Technology LLC Commercial 96,728,617 2 0.69% GSG Residential Park Central Residential 78,444,607 4 0.56% Sierra Pacific Properties Inc Commercial 94,026,120 3 0.67% Seecon Financial and Construction Co Commercial 64,718,608 7 0.46% Concord Corporate Centre LLC Commercial 56,098,898 9 0.40% SFG Owner A LLC Commercial 51,225,062 10 0.37%
Top Ten Total $1,344,612,897 5.98% $818,888,969 5.84%
City Total $22,474,442,700 $14,022,679,290
Source: Tables provided by HdL Companies.
2024-25 2015-16
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 Collected Collections (a) Collections to Tax Levy Rate (b) 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 2023 26,509,921 26,509,921 100.0000% n/a 26,509,921 100.0000% n/a 2024 27,476,825 27,476,825 100.0000% n/a 27,476,825 100.0000% n/a 2025 27,838,179 27,838,179 100.0000% n/a 27,838,179 100.0000% 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) 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
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Millions
Total Tax Levy (a) Tax Collections
167
Table 9: Taxable Sales by Category
Last Ten Calendar Years (Dollars in Thousands)
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Apparel Stores $138,586 $142,501 $146,960 $173,749 $168,580 $112,514 $170,621 $159,342 $137,315 $143,821 General Merchandise 304,047 302,708 310,343 315,809 313,316 242,987 302,578 333,935 325,697 313,545 Food Stores 63,762 65,119 65,916 68,123 71,154 74,323 73,696 77,132 78,536 82,463 Eating and Drinking Places 225,497 243,476 256,602 278,975 313,946 219,910 297,944 338,122 367,734 371,495 Building Materials 337,834 348,717 286,204 436,609 454,626 468,703 541,125 544,844 532,387 496,673 Auto Dealers and Supplies 855,661 920,088 961,963 918,324 891,375 776,277 904,931 891,307 861,646 836,099 Service Stations 152,664 137,249 147,571 167,913 173,743 119,129 167,138 217,196 203,822 204,306 Other Retail Stores 366,883 375,450 380,199 384,749 362,074 314,038 378,736 397,375 373,639 340,723 All Other Outlets 847,796 888,391 939,375 1,032,773 1,122,054 1,370,111 1,384,363 1,393,773 1,348,961 1,349,561 Total $3,292,730 $3,423,699 $3,495,133 $3,777,024 $3,870,868 $3,697,992 $4,221,132 $4,353,026 $4,229,737 $4,138,686 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
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
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
2016 1.25% 0.25% 0.50% 0.50% 6.50% 9.00%
2017 1.50% (b) 0.25% 0.50% 0.50% 6.00% (b),(c) 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% (d) 0.50% 0.50% 6.00% 9.75%
2022 2.00% 0.75% 0.50% 0.50% 6.00% 9.75%
2023 2.00% 0.75% 0.50% 0.50% 6.00% 9.75%
2024 2.00% 0.75% 0.50% 0.50% 6.00% 9.75%
2025 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 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. (c) Proposition 30 0.25% sales tax increase expired on December 31, 2016. (d) A half-cent sales tax was 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%
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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
2024-25 2015-16
Acura of Concord Acura of Concord
Ashby Lumber Ashby Lumber
Audi Concord Audi of Concord
BMW Concord Autocom Nissan of Concord
Concord Chevrolet BMW Concord
Concord Honda Concord Chevrolet
Concord Mazda Concord Honda
Concord Toyota Concord Mazda
Costco Concord Toyota
Dolans Concord Lumber Costco
Financial Services Vehicle Trust Dolans Concord Lumber
Future Chrysler Dodge Jeep Ram of Concord Financial Services Vehicle Trust Future Ford Lincoln of Concord Frys Electronics
Golden State Lumber Future Ford Lincoln of Concord
HD Supply Home Depot
Home Depot Independent Electric Supply
Lehmers Buick/Pontiac/GMC Lehmers Buick/Pontiac/GMC
Lexus of Concord Lexus of Concord
Lowes Lowes
Macy's Macys
Pacific States Petroleum Neillo Infiniti
Patterson Dental Supply Patterson Dental Supply
Safeway Safeway
Sigler Sears
TJ Maxx Sigler
Fiscal Year Total Paid By Top 25 Accounts
= 44.15%
Source: HdL Companies.
Fiscal Year Total Paid By Top 25 Accounts =
43.81%
170
Table 12: Ratio of Outstanding Debt by Type
Last Ten Fiscal Years (Dollars in Millions)
Certificates Refunding Lease
Fiscal of Revenue Lease Agree- Capital Purchase
Year Participation Bonds ment Lease Agreement SBITA Leases Total 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
2023 115.2 3.1 1.5 $1.1 $0.5 121.4
2024 110.4 2.3 1.1 0.5 0.3 114.6
2025 105.4 1.4 0.8 2.2 0.3 110.1
Certificates Total Percentage
Fiscal of Primary of Personal Per
Year Participation Total Government Income (a) Capita (a) 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 12.7 144.3 2.71% 1,167.2
2022 11.5 11.5 137.0 2.48% 1,122.3
2023 10.3 10.3 131.7 2.17% 1,083.8
2024 9.1 9.1 123.7 2.03% 1,018.0
2025 7.9 7.9 118.0 1.92% 962.1
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
Business-Type Activities
$0.0
$15.0
$30.0
$45.0
$60.0
$75.0
$90.0
$105.0
$120.0
$135.0
$150.0
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Millions
Total Governmental Total Business
171
Table 13: Direct and Overlapping Debt
As of June 30, 2025
Percentage Amount
Net Applicable Applicable
Debt to City of to City of
Outstanding Concord Concord
Direct Debt
2021 Certificates of Participation $105,424,751 100.000% $105,424,751 Concord 2018 Refunding Lease Purchase Agreement 1,435,000 100.000% 1,435,000 Motorola Lease Agreement 763,868 100.000% 763,868
Leases 271,882 100.000% 271,882
Subscription-based I.T. Arrangements 2,228,896 100.000% 2,228,896 Total Direct Debt $110,124,397 $110,124,397
Overlapping Debt
Bay Area Rapid Transit District $2,391,260,000 2.144% $51,268,614 Contra Costa Community College District 591,875,000 8.065% 47,734,719 Mt. Diablo Unified School District 422,160,000 39.962% 168,703,579 East Bay Regional Park District 145,930,000 3.345% 4,881,359 Contra Costa County General Fund Obligations 150,845,000 8.040% 12,127,938 Mt. Diablo Unified School District Certs of Participation 6,655,000 39.962% 2,659,471 Contra Costa Mosquito and Vector Control District General Fun 8,050,000 8.040% 647,220 Less: Contra Costa County supported obligations N/A (2,784,641) Total Overlapping Debt $3,716,775,000 $285,238,259
Total Direct And Overlapping Debt $395,362,656
2024/25 Total Assessed Valuation $23,642,168,428
Less Redevelopment Incremental Assessed Value: 2,648,640,164 Adjusted AV $20,993,528,264
Debt to Assessed Valuation Ratios: Direct Debt: 0.525%
Overlapping Debt: 1.359%
Total Debt: 1.883%
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, 2025 (Dollars in Thousands)
Assessed Valuation:
Secured Property Assessed Value, Net of
Exempt Real Property $21,712,176,549
Bonded Debt Limit (15% of Assessed Value) (a) $3,256,826,482 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 $3,256,826,482
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
2016 (a) $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 (b) 2,819,135 0 2,819,135 0.00%
2023 3,032,764 0 3,032,764 0.00%
2024 3,196,115 0 3,196,115 0.00%
2025 3,256,826 0 3,256,826 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. (b) FY 2022 amounts changed to reflect the true Legal Bonded Debt Margin.
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 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 2023 44,898,245 22,376,196 22,522,049 1,110,000 409,306 1,519,306 14.82 2024 48,821,529 23,890,983 24,930,546 1,145,000 369,306 1,514,306 16.46 2025 51,117,802 25,201,202 25,916,600 1,195,000 327,138 1,522,138 17.03 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
16.00 18.00
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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
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
2023 27,441,618 2,825,000 387,250 3,212,250 8.54
2024 28,862,869 2,400,000 246,000 2,646,000 10.91
2025 26,486,402 2,520,000 126,000 2,646,000 10.01
Source: County Redevelopment Successor Agency Property Tax Revenue Report Long Term Debt Schedule - City of Concord Finance Department The final bond payment was made in fiscal year 2025
$0
$5
$10
$15
$20
$25
$30
$35
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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 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% 2023 122,074 5,519,776,000 45,217 3.2% 1,147,653 10.64% 2024 121,513 6,078,827,000 50,026 3.7% 1,146,626 10.60% 2025 122,650 6,152,564,000 50,164 4.2% 1,158,225 10.59% Sources: State of California, Department of Finance The HdL Companies
0.00%
2.50%
5.00%
7.50%
10.00%
12.50%
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Unemployment Rate
10.00%
10.50%
11.00%
11.50%
12.00%
12.50%
13.00%
13.50%
14.00%
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
City Population as Percentage of County
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Millions
Total Personal Income
$20
$25
$30
$35
$40
$45
$50
$55
$60
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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 of Total City
Employer (Range) Rank Employment* Employees Rank Employment John Muir Medical Ctr 1,000 to 4,999 1 4.7%
Mt. Diablo Unified School District 1,000 to 4,999 1 4.7% City of Concord 500 to 999 2 1.2%
PG&E 500 to 999 2 1.2%
AssetMark 250 to 499 3 0.6%
Cerus Corporation 250 to 499 3 0.6%
County Connection 250 to 499 3 0.6%
Yard House 0 to 249 4 0.6%
Mt. Diablo Resouce Recovery 0 to 249 4 0.2%
Athens Administrators 0 to 249 4 0.2%
Bank of America 1,000 - 4,999 1 4.4%
John Muir Medical Ctr 1,000 - 4,999 1 4.4%
PG&E 1,000 - 4,999 1 4.4%
Wells Fargo 1,000 - 4,999 1 4.4%
Fresenius Medical Care 500 - 999 2 1.1%
Macy's 500 - 999 2 1.1%
Assetmark 250 - 499 2 0.6%
Benchmark Electronics Inc 250 - 499 3 0.6%
Cb&l Inc 250 - 499 3 0.6%
Comcast 250 - 499 3 0.6%
Costco 250 - 499 3 0.6%
Fry's Electronics 250 - 499 3 0.6%
Home Depot 250 - 499 3 0.6%
Systron Donner 250 - 499 3 0.6%
Subtotal 3,750 - 14,250 14.3% 7,000 - 25,986 24.4%
Total City Day Labor Force: 64,500 67,600
Source: City of Concord Economic Development & Base Reuse Department * 2025 Percentage of total is based on median in the ranges provided. 2025 2016
177
Table 19: Full-Time Equivalent (FTE) City Government Employees by Function Last Ten Fiscal Years
#
#
#
#
#
#
#
2016 2017 2018 2019 2020 2021 (a) 2022 2023 (b) 2024 2025 Function
General Government 65 65 62 62 62 56 62 63 64 70
Public Safety 215 215 216 213 209 185 193 193 196 196
Public Works 64 64 64 69 69 65 67 74 73 73
Economic Development & Base
Reuse 5 4 5 5 5
Community Development 46 46 52 52 54 49 53 51 56 56
Parks & Recreation 13 13 13 13 13 12 14
Recreation Services 14 14 14
Sewer 11 11 12 13 11 11 11 13 17 17
Total 414 414 419 422 418 383 404 413 425 431
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. (b) In Fiscal Year 2023, the "Parks & Recreation" Department was renamed "Recreation Services" 0 50
100
150
200
250
300
350
400
450
2016 2017 2018 2019 2020 2021 (a) 2022 2023 (b) 2024 2025 FTE's
General Government Public Safety
Public Works Economic Development & Base Reuse
Community Development Parks & Recreation
Sewer Recreation Services
178
Table 20: Operating Indicators by Function / Program
Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021(a) 2022 2023 (b) 2024 2025 Function/Program
Police:
Number of Community Service Desk Contacts 30,225 24,233 21,040 20,117 21,969 N/A N/A N/A N/A N/A Police Calls for Service 121,433 122,187 125,429 127,024 123,776 112,186 109,256 109,449 111,419 114,395 Law Violations:
Part I Crimes 4,849 4,820 4,919 4,695 4,999 4,035 4,543 4,321 4,314 4,506 Physical Arrests (Adult and Juvenile) 3,853 3,916 3,229 3,532 2,528 2,241 1,912 2,540 3,331 3,698 Parking Violations 7,282 6,002 6,920 7,081 7,282 2,353 4,443 3,922 3,764 4,997 Public Works
Street Resurfacing (millions of square feet) 2 2 2 4 2 0.10 1.14 1.31 5.55 6.64 Potholes Repaired 1,272 3,168 1,460 5,251 2,122 1,433 1,889 6,467 8,315 6,615 Culture and Recreation
Community Services:
Recreation Class Participants 13,251 13,476 12,568 12,540 10,364 3,213 6,938 10,220 11,583 12,794 Senior Center Activity/Event Participants 22,018 18,377 22,075 23,250 25,436 1,067 1,336 1,832 5,097 11,320 Human Services/Club Activity Participants 38,592 33,853 38,740 40,241 7,096 456 39,477 11,775 11,009 39,306 Library:
Volumes in Collection (thousands) 80,692 76,049 77,702 57,523 55,195 52,196 53,259 50,012 50,702 51,500 Total Volumes Borrowed (thousands) 253,522 219,157 195,562 200,639 139,482 79,560 127,725 98,479 156,535 154,173 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 9 8 19 10 19 13 13 10 7 5
Average Daily Pumping (millions of gallons) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Notes: N/A denotes information not available.
(a) City stopped tracking the Number of Community Service Desk Contacts during fiscal year 2021. (b) Effective Fiscal Year 2023, the City changed the method of counting Human Services Participants to more accurately reflect services provided.
Source: City of Concord
179
Table 21: Capital Asset Statistics by Function/Program Last Ten Fiscal Years
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Function/Program
Public Works
Miles of Streets 310 310 310 310 310 310 310 310 310 310 Street Lights 8,256 8,256 8,256 8,290 8,325 8,379 8,379 8,379 8,379 8,379 Traffic Signals 158 165 173 173 180 195 195 194 194 194 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 19 19 19 19 19 19 19 19 19 19
City Trails 9 9 9 9 9 9 9 9 9 9
Miles of City Trails 22 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 2,256 2,256 2,256 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
Historic 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 27 27 27 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) 389 389 389 389 389 389 389 389 389 389 (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, 2025
MUNICIPAL DEBT CONTINUING DISCLOSURE
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 (ACFR, page 32) Changes in Fund Balances
c. General Fund Balance Sheet (ACFR, page 30)
d. General Fund Tax Revenues By Source (ACFR, page 32)
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 Redevelopmement 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 0.74%
2. VERANDA Shopping Centers 0.70%
3. PALM LAKE APARTMENTS 300 Apartments 0.51%
4. CLAYTON CROSSING APARTMENTS 290 Apartments 0.50%
5. JOHN MUIR MEDICAL CENTER Hospital and Medical Campus 0.50%
6. Q VILLAGE LLC 286 Apartments 0.49%
7. DALIS GARDENS MOB HOME PARK 260 Spaces 0.45%
8. CONCORD 1441 APARTMENTS 218 Apartments 0.37%
9. CLAYTON CREEK APARTMENTS 208 Apartments 0.35%
10. HERITAGE TOWERS APARTMENTS 196 Apartments 0.33%
Source: City of Concord Public Works Department
12 MONTHS THROUGH JUNE 30, 2025
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 2024-25
RESIDENTIAL OWNERS
1. Minimum rate for any premises $854.00
2. Each single-family dwelling unit 854.00
3. Each dwelling unit in a multiple dwelling structure 854.00 per unit
4. Mobile Home Park 854.00 per space
COMMERCIAL OWNERS - Charge based upon quantity of water used in cubic feet
1. Minimum rate for any premises $854.00
2. Bowling Alleys 7.56/100 cu. ft.
3. Car Washes 7.56/100 cu. ft.
4. Health Studios and Gymnasiums 7.56/100 cu. ft.
5. Hospitals - Convalescent 7.56/100 cu. ft.
6. Multiple Lodging Structures (hotels, motels and rooming houses) 7.56/100 cu. ft.
7. Laundromats and Laundries 7.56/100 cu. ft.
8. Restaurants 15.03/100 cu. ft.
Restaurants with pretreatment facilities approved annually 8.54/100 cu. ft.
9. Bakeries Determined Individually
10. All others 8.54/100 cu. ft.
INSTITUTIONAL OWNERS
1. Minimum rate for any premises $854.00
2. As defined in Section 110-31, except for Convalescent Hospitals 8.54/100 cu. ft.
INDUSTRIAL OWNERS - Charge based upon quantity of water used and quality of effluent
1. Minimum rate for any premises $854.00
2. Flow/Million Gallons 6,622.00
3. Biochemical Oxygen Demand (B.O.D.) per thousand pounds 1,553.00
4. Suspended Solid (S.S.) per thousand pounds 1,367.00
SPECIAL DISCHARGE PERMITS, AS ISSUED BY THE DISTRICT
1. Charge based upon quantity of water used and quality of effluent Determined Individually SPECIAL CONTRACTUAL AGREEMENT Determined Individually
Source: City of Concord Municipal Code Section 13.05.020. 184
Successor Agency of the Former Redevelopment Agency of the City of Concord (Contra Costa County, California) Tax Allocation Refunding Bonds Series 2014 Table 3: Assessed Valuation by Category of Use
Fiscal Year 2024-25
No. of Parcels Taxable Value % of Total
Commercial 380 1,719,601,055$ 57.5% Residential 428 698,836,776 23.4% Industrial 82 177,197,964 5.9% Other Secured 98 140,745,784 4.7% Unsecured 908 251,844,403 8.4% Total 1,896 $2,988,225,982 100%
Source: HDL Coren & Cone
FY2024-25
185
Successor Agency of the Former Redevelopment Agency of the City of Concord (Contra Costa County, California) Tax Allocation Refunding Bonds Series 2014 Table 4: Historic Tax Revenues ($Thousands)
2021 2022 2023 2024 2025
Assessed Value 2,760,139$ 2,850,627$ 3,083,748$ 3,225,873$ 2,988,226$ Base Year Value (339,586) (339,586) (339,586) (339,586) (339,586) Incremental AV 2,420,553 2,511,041 2,744,162 2,886,287 2,648,640 Tax Rate* 1.000% 1.000% 1.000% 1.000% 1.000%
Secured/Unsecured 24,206 25,110 27,442 28,863 26,486
Unitary 849 890 934 957 1,004
Supplemental / Other 428 795 1,013 731 221
Subtotal Gross Revenue 25,483 26,795 29,389 30,551 27,711 Less: County Admin** (213) (199) (184) (207) (105)
Less: Pass Through** (4,211) (4,661) (5,335) (5,858) (4,959) Net Tax Incr. / RPTTF Revenue 21,059$ 21,935$ 23,870$ 24,486$ 22,647$ Less: Senior Reimb. Agreement 0 0 0 0 0
Historic Tax Revenues 21,059$ 21,935$ 23,870$ 24,486$ 22,647$ 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 FY2024-25 Secured
FY2024-25
Unsecured Total
% of Total
AV**
% of AV
Incr.**
1. Concord Centercal LLC 1 $205,000,000 $205,000,000 6.9% 7.7%
2. Renaissance Residential Holding 4 154,309,748 154,309,748 5.2% 5.8%
3. Sequoia Equities Concord PC LLC 2 128,313,174 128,313,174 4.3% 4.8%
4. Willows Center Concord 2 122,000,000 122,000,000 4.1% 4.6%
5. HM Grant Street LLC 2 118,512,445 118,512,445 4.0% 4.5%
6. Concord Technology Center Properties 4 105,002,291 105,002,291 3.5% 4.0%
7. AD Seeno Construction Company Inc 5 61,186,312 61,186,312 2.0% 2.3%
8. Jamestown Concord Technology 2 56,730,000 56,730,000 1.9% 2.1%
9. L and L Hospitality Holdings LLC 1 55,383,894 55,383,894 1.9% 2.1%
10. HSRE Oakmont Concord LLC 1 53,380,141 1,141,541 54,521,682 1.8% 2.1% Total Top 10 Taxpayers 24 $1,059,818,005 $1,141,541 $1,060,959,546 35.50% 40.06% Note:
**Percentages calculated based on FY2024-25
Total assesssed value of 2,988,225,982
Total Incremental Assessed Value of 2,648,640,164
Source: HDL Coren & Cone
Table 5: Top 10 Taxpayers for Project Area
Fiscal Year 2024-25
187
Successor Agency of the Former Redevelopment Agency of the City of Concord (Contra Costa County, California) Tax Allocation Refunding Bonds Series 2014 Fiscal Year 2024-25
FY2024-25 Appeals
Number of
Filings
County Roll Value
($Millions)
Applicant
Opinion
($Millions)
Estimated/Actual
Resolved Value
($Millions)
Estimated/Actual
Loss Value
($Millions)
% Reduction
Appeals Resolved 6 $34.60 $16.20 16.2 $18.40 53%
Appeals Pending 47 873.4 488.7 698.5 174.9 20%
Total Appeals Filed 53 $908.0 $504.9 $714.7 $193.3 21%
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 1 Fiscal Year (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
2025 8,144 4,922 514 452 14,032 2,646 16,678 5.43x
2026 0 0 0 0 0 0 0
As of June 30th, 2025, the Tax Allocation Refunding Bonds have been repaid.
Source: Keyser Marston Associates, Inc. September 15, 2014 189
CITY OF CONCORD JUNE 30, 2025
190
CITY OF CONCORD
REQUIRED COMMUNICATIONS
FOR THE YEAR ENDED JUNE 30, 2025
Attachment 2
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CITY OF CONCORD
REQUIRED COMMUNICATIONS
For the Year Ended June 30, 2025
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 ...................................................................................... 4
Disagreements with Management .................................................................................................... 4
Management Representations ............................................................................................................ 4
Management Consultations with Other Independent Accountants ................................................. 4
Other Audit Findings or 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 the City of Concord, California, for the year ended June 30, 2025. Professional standards requi re that we provide you with info rmation about our responsibilities under generally accepted auditing standards and
Government Auditing Standards and the Uniform
Guidance, as well as certain informat ion related to the planned scope and timing of our audit. We have communicated such information in our separate meetin gs with the Mayor and C ity Manager on July 1, 2025 and June 19, 2025, respectively. Professional standards also require that we communicate to you the following information related to our audit.
Significant Audit Matters
Qualitative Aspects of Accounting Practices
Accounting Policies – Management is responsible for the selec tion 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) pronouncement became effective:
GASB 101 – Compensated Absences
The objective of this Statement is to better me et the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recogniti on and measurement guidance under a unified model and by amending certain previously required disclosures.
This Statement requires that liabilities for compen sated absences be recogni zed for (1) leave that has not been used and (2) leave that has been used but not yet paid in cash or settled through noncash means. A liability should be recognized for leave that has not been used if (a) the leave is attributable to services already rendered, (b) th e leave accumulates, and (c) the leave is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means.
Leave is attributable to services already rende red when an employee has performed the services required to earn the leave. Leave that accumula tes is carried forward from the reporting period in which it is earned to a future reporting period during which it may be used for time off or otherwise paid or settled. In estimating the leave that is more li kely than not to be used or otherwise paid or settled, a government should co nsider relevant factors such as employment policies related to compensated absences and hist orical information about the use or payment of compensated absences. However, leave that is more likely than not to be settled through conversion to defined benefit postemployment bene fits should not be incl uded in a liability for compensated absences.
1
This Statement requires that a liability for certain types of compensated absences—including parental leave, military leave, and jury duty leave—not be recognized un til the leave commences.
This Statement also requires that a liability for specific types of compen sated absences not be recognized until the leave is used.
This Statement also establishes guidance for measuring a liability for leave that has not been used, generally using an employee’s pay rate as of the date of the financial statements. A liability for leave that has been used but not yet paid or settled should be measured at the amount of the cash payment or noncash settlement to be made. Cert ain salary-related payments that are directly and incrementally associated with payments for leave also should be included in the measurement of the liabilities.
The pronouncement became effectiv e and, as disclosed in Note 20 to the financial statements, required a prior period restatement for the cumulative effect on the financial statements.
The following pronouncement also became effective, bu t did not have a material effect on the financial statements:
GASB 102 – Certain Risk Disclosures
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, 2025, the City held approximately $404.7 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, 2025. These fair values are not required to be adjusted for changes in general market conditions occurring subsequent to June 30, 2025.
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.
Estimate of Compensated Absences: : Accrued compensated absences which are comprised of accrued vacation, holiday, compensating time and sick leave is estimated using accumulated unpaid leave hours and hourly pay rates in eff ect at the end of the fiscal year, based on the likelihood that it will be used as leave or paid upon termination plus a provision for salary-related payments (Medicare taxes and Social Security co sts), as disclosed in Note 1 to the financial statements. We evaluated the key factors an d assumptions used to develop the accrued compensated absences and determined that it is reasonable in relation to the basic financial statements taken as a whole.
2
Estimated Claims Liabilities: Management’s estimate of th e claims liabilities payable is disclosed in Note 17 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 and OPEB-Related De ferred Outflows and Inflows of Resources:
Management’s estimate of the net OPEB liabi lity and OPEB-Related Deferred Outflows and Inflows of Resources are disclosed in Note 13 to the financial statements and are based on actuarial study determined by a consultant, which is based on the experience of the City. We evaluated the key factors and assump tions used to develop the estima te in determining that it is reasonable in relation to the basic financial statements taken as a whole.
Estimated Leases Receivable, Leases Payable and Deferred Inflows of Resources Related to Leases: Management’s estimates of leases receivable and leases payable disclosed in Note 15 to the financial statements are based on the agreem ent term, including any assumptions related to whether extensions may be exercised, and the disc ount rate net present value calculation is based on the estimated borrowing rate at the measur ement date. We evaluated the key factors and assumptions used to develop the leases receivabl e and deferred inflows of resources related to leases estimates and determined that they are reasonable in relation to the basic financial statements taken as a whole.
Estimated Subscription Assets and Subscription Liabilities: Management’s estimate of subscription assets and subscription liabilities disclosed in Note 16 to the financial statements are based on the agreement term, including any assump tions related to whether extensions may be exercised, and the discount rate used in the net present value calculation is based on the estimated borrowing rate at the measurement date. We ev aluated the key factors and assumptions used to develop the subscription assets and subscription li abilities estimates and determined that they are 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.
3
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 statements taken as a whole.
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.
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, 2025.
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. 4
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.
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.
******
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, 2025
5
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Restoration and Public Access Improvements:
South of Bailey Road
Thurgood Marshall Regional Park – Home of the Port Chicago 50 February 10, 2026
5.a
T oday’s Discussion
1. Project Background
2. Timeline
3. Budget
~ 2,500 acres located on
the former inland area of
the former Concord Naval
Weapons Station
Concord
Pittsburg
Bay Point
Former Port
Chicago T own site
Regional Context
*Boundaries are approximate
EDC
Reuse Plan Context
PBC
• City of Concord prepared the Concord
Community Reuse Plan to guide the future
of the former Concord Naval Weapons
Station
• The Reuse Plan includes:
• Economic Development Conveyance
(EDC) area where City development
will occur
• Public Benefit Conveyance (PBC) which
was transferred to the District for
resource conservation and low impact
recreation. It will become the
approximately 2,500
-acre Thurgood
Marshall Regional Park – Home of the
Port Chicago 50
Area South of Bailey Road
Magazine 57 Overlook
Magazine 44
Interpretive Plaza
Recreation and
Education
Interpretation of cultural and
natural resources
Timeline
2020
Adoption
Land Use
Plan
2022-2023
Detailed Site
Analysis /
Internal Scoping
2024-2026
Design and
Permitting
2027
Bid and
Construction
2028
Open to the
Public!
PROJECT AT-A-GLANCE South of Bailey Road
Year Built (CNWS) 1944
Project Area 220 acres
New trail network length 7 miles
Road/ Trail demo 2.67 miles
Earthwork TBD
Restoration Area 10.5 Acres
No. Special Status Species protected 3
Off-site ROW Costs $1M
Restrooms (Vault) Four stalls
Special Interpretive Elements Magazine 44 Exhibits
Parking Counts 50 stalls + overflow for horse
trailers and buses
ESTIMATED TOTAL PROJECT COST $18M
Develop Public Access
South of Bailey Road
Thurgood Marshall Regional Park
– Home of the Port Chicago 50
• SECURED FUNDING – State Parks,
Specified Grant$3M
• AWARDED FUNDING – HUD,
Community Development Fund$850,000
• CURRENT APPLICATION –
State Parks, LWCF$6M
• PARK DISTRICT
GENERAL FUND $21,094.85
• MEASURE WW
FUNDING
$4.5M WW Development
$2.5M WW Contingency
$8M WW Gap*
$18M Total Project Cost
Funding for Public Access
South of Bailey Road Project
Thurgood Marshall Regional Park –
Home of the Port Chicago 50
Visit the project web site:
https://www.ebparks.org/projects/south -bailey-road-public-access-project
Staff Report
Date: February 10, 2026
To: City Council
From: Valerie J. Barone, City Manager
Reviewed by: Margaret L. O'Brien, Director of Finance
Prepared by: Kylie Hicks-Carrera, Budget Analyst
[email protected]
(925) 671-3046
Subject: Considering the following:
1. Adoption of a Resolution amending the Fiscal Years 2025-26 and 2026-27 Municipal Budgets.
2. Adoption of a Resolution adopting the City of Concord’s Salary Schedule effective January 1, 2026, in accordance with the requirements of the California Public Employees
Retirement System (CalPERS) for a publicly available pay schedule.
CEQA: Not a project/exempt pursuant to Public Resources Code Section 21065, 14 Cal Code Regs. Sections 15060(c), 15061(b), 15273, and/or 15378.
Report in Brief
The City Council adopted the Fiscal Year (FY) 2025-26 and FY 2026-27 Biennial Budget on June 10, 2025. This Mid-Year Update for FY 2025-26 provides an assessment of the City of Concord’s (City) financial performance during the first half of the fiscal year, including a comparison of General Fund and Measure V revenues and expenditures to the adopted budget. The report also summarizes final results for FY 2024-25 and presents recommended budget amendments for FY 2025-26 and FY 2026-27 to support continued service delivery and operational priorities. Overall, the City’s financial position remains stable at mid-year, with revenues tracking close to plan, modest adjustments in the General Fund, and several targeted non-General Fund technical adjustments.
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City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
Proposed adjustments for this fiscal year modestly increase the General Fund revenue projection by $100,000, from $136.25 million to $136.35 million, and increases General Fund expenditures by $59,000, from $140.03 million to $140.08 million. Overall, there is a net-positive impact on the General Fund in the amount of $41,000.
For non-General Fund programs, additional appropriations include $200,000 from the State Supplemental Law Enforcement Fund (Fund 112) to support additional Police Academy cadets, a technical correction of $135,000 from the Housing Conservation Fund (Fund 252) to advance the City’s housing conservation program and fully draw down available federal funding, and $197,000 from the Golf Course Fund (Fund 700) to align the budget with the City Council-approved golf course maintenance agreement.
Recommended Action
1. Adopt a Resolution amending the Fiscal Years 2025-26 and 2026-27 Municipal Budgets. (Attachment 1).
2. Adopt a Resolution adopting the City of Concord’s Salary Schedule Effective January 1, 2026. (Attachment 2)
Background
On June 10, 2025, the City Council adopted the City’s biennial operating budget for FY 2025-26 and FY 2026-27. As part of the biennial framework, the City provides regular financial updates to the public and City Council, including a Mid-Year review and a Mid- Cycle assessment approximately 12 months after adoption. This Mid-Year Update for FY 2025-26 evaluates financial performance during the first half of the fiscal year, compares General Fund results to the adopted budget, and summarizes the City’s financial performance for the prior fiscal year (FY 2024-25).
The City’s budget is guided by a series of Council-adopted policies and ordinances, most notably the Fiscal Sustainability Ordinance (Concord Municipal Code Chapter
3.20). This ordinance establishes clear standards for the use of one-time revenues, directing them toward non-recurring purposes and defining the appropriate application of these funds. All recommendations in this report are consistent with these requirements.
Since the Great Recession, the City Council has maintained a sustained focus on strengthening the City’s financial position through disciplined budgeting and long-term planning. The budget adjustments recommended in this report continue that approach by supporting fiscal stability while preserving essential services and advancing community priorities.
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
Discussion
The report is divided as follows for ease of reading:
Part I: Update on Accomplishments Related to Council’s Priority Areas of Focus for FY 2025-26
Part II: Mid-Year Budget Discussion
A. Prior Year (FY 2024-25) General Fund and Measure V Operating Results B. Fiscal Year 2025-26 Mid-Year General Fund Review and Recommended Adjustments
C. General Fund Reserves/Fiscal Stability Fund
D. Fiscal Year 2025-26 Proposed Adjustments to Other Funds Part III: City of Concord’s Salary Schedule
Part I: Update on Accomplishments Related to Council’s Priority Areas of Focus At Council’s annual priority setting workshop for FY 2025-26, held March 29, 2025, Council reaffirmed the organization’s strategic focus on (in no stated priority order) fiscal stability, economic development, quality of life, public safety, roadway and infrastructure maintenance, customer service, employee success, and organizational efficiency.
Further, the Council established six Tier 1 priorities for FY 2025-26.
Work on all Tier 1 priorities is currently in progress. • Concord Naval Weapons Station Development. The City Council, acting as the Local Reuse Authority, worked constructively with Brookfield’s team to negotiate an acceptable agreement with the U.S. Navy on the price and terms of payment for the property in an Economic Development Conveyance agreement.
Those discussions are on-going. Reaching a financial agreement with the U.S.
Navy is a prerequisite to starting the drafting of the project’s Specific Plan and the Environmental Impact Report for future Council consideration. • Implement Various Housing Element Mandates. Staff made significant progress toward implementing various Housing Element Mandates, including:
o Affirmatively Furthering Fair Housing (AFFH). The program involves development of a zoning overlay district on approximately 20 acres of land in higher-resource neighborhoods to allow optional multifamily housing development without altering existing baseline zoning or uses. At the February 24 City Council meeting staff will present the necessary documents to implement the AFFH overlay zoning on five sites, as directed by the City Council: Kmart (Site 1; 5100 Clayton Road), Clayton
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
Faire Shopping Center (Site 2; 5280-88 and 5350-58 Clayton Road), Palm Lakes Apartments (Site 8; 780 Oak Grove Road), Sites 16 (5390 Myrtle Drive), and Site 18 (1539 Kirker Pass Road).
o Increased Building Heights. On January 13, 2026, the City Council introduced an Ordinance amending the Development Code to increase maximum heights for residential and mixed-use buildings heights from 30 to 37 feet in the Community Office (CO) and Commercial Mixed Use (CMX) districts, and from 60 to 67 feet in the Residential High Density (RH) zoning district. Adoption of the Ordinance is being considered on February 10, 2026.
o Objective Design Standards. Continued progress toward expanding the City’s Objective Design Standards (ODS) apply to small lot subdivisions and single-family homes. Key actions include providing a two-year update for the Council on September 23, 2025, and obtaining input from the Council’s Ad Hoc Committee on ODS on December 11, 2025. Staff will bring forward the Committee’s recommendation and a draft work plan back to the Council in spring of 2026.
o Residential Tenant Protection Program (Rent Stabilization, Just Cause for Eviction, and Rent Registry). Implementation of the program continues in alignment with Council direction, with the program on track to achieve full cost recovery in its second year of operation. Staff continues to refine the public-facing system and internal workflows to improve usability, streamline processing, and manage workload demand as program activity matures.
o Other Programs. Earlier this year Council provided guidance to staff on Housing Element Objectives 4.7 and 16.1 regarding housing development on educational agencies and religious institution sites, respectively, and directed staff to take no further action at this point in time. • Unfunded Infrastructure Needs.
o The Infrastructure and Franchise Committee met on August 19, October 21, November 21, December 16, 2025, and January 26, 2026, to continue building momentum on the discussions that began amongst the whole Council during a Council study session in March 2025 and at the annual Council workshop that occurred later in March. The Committee reviewed the City’s prior efforts to reduce operational costs and maximize the effective use of existing resources. The Committee has also been evaluating what revenue options may be feasible to address the annual $24 million shortfall in infrastructure investment. The goal is to bring the discussion before the full Council this spring.
• Complete Labor Negotiations with POA, PMA, Teamsters, and Local 29. The Council’s negotiation team began early preparation for negotiations, including
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
responding to bargaining-related information requests. Initial meetings with bargaining units have either recently occurred or will occur soon. • Implement Enterprise Resource Planning (ERP) System. Significant progress has been made in the design and end-to-end testing build of the City’s new ERP system, Workday. Staff is diligently engaged in the design and quality assurance testing of the new system, which is set to go live in the first quarter of Fiscal Year 2026-27.
• Adopt and Implement a New Economic Development Strategy. City Council adopted the new Economic Development Strategic Plan on December 2, 2025.
Staff is implementing the three-year action plan addressing the highest-priority issues. An update on implementation efforts is scheduled for City Council at the February 24, 2026, meeting.
Beyond the priorities discussed above, Attachment 3 to this report provides a summary of accomplishments and progress through December 31, 2025, for several additional significant projects and programs.
Part II: Mid-Year Budget Discussion
The Mid-Year budget discussion begins with a brief overview of the General Fund’s actual performance for the prior fiscal year, FY 2024–25.
A. Prior Year (FY 2024-25) General Fund (Fund 100) and Measure V (Fund 125) Operating Results
General Fund (Fund 100)
The General Fund is the City’s primary operating fund, supporting core services such as public safety, community development, recreation, public works, and general government. The major revenue sources include sales tax, property tax, and the Measure V transaction and use tax, along with charges for services, licenses and fees, grants, franchise fees, and business license revenue.
The FY 2024-25 General Fund end-of-year revenues exceeded the adjusted revenue budget by $5.51 million, of which $4.6 million was one-time, non-recurring revenues, described below. This allowed the City to use $5.51 million less of its fiscal stability reserves than had been budgeted.
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
One-time revenues received that were not budgeted:
• $1.1 million of interest earnings above budget.
• $2.1 million repayment of a loan that was made from the General Fund to the Civic Center roof project.
• $1.4 million transfer from the Fiscal Stability Fund that was approved in FY 2023- 24 but was not accounted for in the budget until FY 2024-25.
General Fund expenditures for FY 2024-25 ended basically on target, with $0.12 million remaining unspent.
Fiscal year end results reflect operating revenues of $136.51 million and expenditures of $137.7 million, resulting in a net operating loss of $1.1 million, as presented in Table 1.
Table 1: FY 2024-25 General Fund Operating Results
Measure V (Fund 125)
Measure V is a voter-approved local transaction and use tax adopted by Concord voters in November 2020. It is a dedicated, ongoing revenue source to support essential City services and helps to fund public safety, infrastructure and street maintenance, and Council directed priorities. An independent citizen oversight committee reviews the use of Measure V funds to promote transparency and accountability; this committee meets each spring. The committee provides advisory memoranda to the City Council at the 1 Reported General Fund revenues total $138.38 million and include unrealized investment market value adjustments required under GASB 31. These market-driven fluctuations do not reflect operating activity or available cash and are excluded from this analysis.
Regular Revenues (non-Measure V) $121.5
Measure V Allocated to General Fund 16.9
Subtotal 138.4
Less GASB 31 Adjustment (1.9)
Total Revenues 136.5
Operating Expenditures 133.3
Transfers Out 4.4
Total Expenditures 137.7
FY 2024-25 Budget Deficit ($1.1)
General Fund (Fund 100) (in millions)
Revenues
Expenditures
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
Mid-Cycle budget update and the biennial budget adoption. Most recently, as part of the FY 2025-26 and FY 2026-27 budget adoption in June 2025, the Committee reviewed the proposed use of Measure V revenues and concluded that the operating budget allocations for both fiscal years protect the City’s essential services.
The Measure V Fund closed FY 2024-25 with a budget surplus of $616,000 due to interest earnings above projections. Total revenues of $33.5 million, comprised of $32.3 million in Measure V tax receipts and $1.2 million in interest earnings, exceeded expenditures of $32.9 million.
Staff recommends retaining the $616,000 surplus in the Measure V Fund balance at this time, as the year is not over, and it will create a buffer should Measure V revenue end the year lower than projected in the adopted budget. When the Capital Budget is presented to Council in May and June of this year, if these one-time funds are not needed to support Measure V commitments in the current fiscal year, staff will recommend allocating them to the Capital Budget for investment in priority infrastructure projects, consistent with the City’s Fiscal Stability Ordinance.
Table 2 below summarizes the FY 2024-25 operating results for the Measure V Fund.
Table 2: FY 2024-25 Measure V (Fund 125) Operating Results Revenues $33.5
Support for General Fund Operations 15.0
Council Directed Priorities: Public Safety, CORE, Code Enforcement, Maintenance Response Team, Infrastructure Maintenance 1.6
Infrastructure Investment: Transportation Grants, Residential Paving, Building and Parks Maintenance 16.3
Total Expenditures 32.9
FY 2024-25 Budget Residual 0.6$
Expenditures
Measure V (in millions)
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
B. Fiscal Year 2025-26 Mid-Year General Fund Review and Recommended Adjustments
Revenues
At the end of the second quarter on December 31, 2025, the City received 44%, or $59.42 million, of budgeted revenues for this fiscal year. This is comparable to prior years.
Table 3: General Fund Revenue Collection in FY 2025-26 Compared to FY 2024-25 through the 2nd Quarter ($ millions)
Expenditures
As of December 31, 2025, the City had expended approximately 52% of the FY 2025-26 General Fund budget and remains on track to meet the adopted budget. This compares favorably to prior years. Additional detail is provided in Table 4.
Table 4: General Fund Expenditures in FY 2025-26 Compared to FY 2024-25 through the 2nd Quarter ($ millions)
Revenues
Adjusted
Budget
Actuals
through
12/31/24
Adjusted
Budget
Actuals
through
12/31/25
$ to
Previous
YTD
% to
Previous
YTD
Property Tax $34.87 $11.46 $37.06 $11.92 $0.46 4.01%
Sales Tax 38.82 12.72 39.48 13.49 0.8 6.05%
Franchise Fees 9.83 2.18 9.78 2.33 0.2 0.00%
Transient Occupancy Tax 2.51 1.10 2.31 0.83 (0.3) -24.55% Business License Fees 4.29 1.82 4.29 1.81 (0.0) -0.55%
Charges for Services, Licenses, and Permits 10.7 5.56 12.40 7.08 1.5 0.00% Other Revenues* $29.98 23.23 30.93 21.96 (1.3) -5.47%
Total Revenues $131.00 $58.07 $136.25 $59.42 $1.35 2.32% FY 2024-25 FY 2025-26 Growth
FY 2025-26
Expenditures
Adjusted
Budget
YTD through
12/31/24
%
Variance
Adjusted
Budget
YTD
through
12/31/25
%
Variance
Over/
(Under)
Previous
YTD
Salaries and Benefits $98.6 $55.96 56.8% $98.79 $55.55 56.2% -0.73% Operating Expenses 17.72 6.39 36.1% 19.42 8.67 44.6% 35.66% Internal Service Charges 19.08 9.54 50.0% 21.24 8.85 41.7% 0.00% Transfers Out 2.37 3.99 168.4% 0.58 0.03 5.6% -99.19%
Total Expenditures $137.77 $75.88 55.1% $140.03 $73.10 52.2% -3.66% FY 2024-25
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
The proposed General Fund adjustments are described below.
General Fund Recommended Adjustments
The proposed adjustments would increase the General Fund revenue projection by $100,000 from $136.25 to $136,35 million and increase expenditures by $59,000, resulting in a net positive of $41,000. The following table provides a summary of the General Fund’s FY 2025-26 municipal budget and proposed adjustments.
Table 5: FY 2026-26 General Fund Recommended Adjustments Regular Revenues
FY 2025-26
Budget
FY 2025-26
Projected
Proposed
Adjustment Ref
Property Tax $37,061,000 $37,261,000 $200,000 1
Sales Tax 39,484,400 39,484,400
Franchise Fees 9,779,400 9,779,400
Transient Occupancy Tax 2,308,000 2,108,000 (200,000) 2 Business License Fees 4,294,400 4,294,400 Charges for Services, Licenses, and Permits 12,392,082 12,392,082 Other Revenues 30,931,013 31,031,013 100,000 3 Total General Fund Revenues $ 136,250,295 $ 136,350,295 $ 100,000 Department Expenditures
FY 2025-26
Budget
FY 2025-26
Projected
Proposed
Adjustment Ref
City Attorney $ 2,307,681 $ 2,307,681
City Manager / City Council 4,589,253 4,597,253 8,000 4 Economic Development and Base Reuse 1,658,826 1,658,826 Finance 5,784,049 5,784,049
Non-Departmental 4,400,602 4,400,602
Human Resources 2,943,932 2,943,932
Police 80,359,268 80,410,268 51,000 5 Public Works 17,916,220 17,916,220
Recreation Services 8,098,639 8,098,639 Total General Fund Expenditures $ 140,025,781 $ 140,084,781 $ 59,000 Net Impact of Adjustments on the General Fund $41,000
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
1. Property Tax: $200,000 Increase (ongoing)
Increase property tax revenue by $200,000 to reflect current year trends and updated assessed valuation information. Year-to-date receipts and preliminary data from the County indicate stronger-than-anticipated growth compared to original projections.
Adjusting the budget improves forecast accuracy. This adjustment does not reflect a change in the tax rate, but rather updated assumptions regarding taxable value and collections.
2. Transient Occupancy Tax: $200,000 Decrease (ongoing) Transient Occupancy Tax (hotel tax) receipts have shown a softening trend during the first half of the fiscal year. Through December 31, 2025, approximately $830,000 has been collected, compared to $1.0 million collected during the same period in the prior year. Based on this year-to-date performance, staff recommends reducing the Transient Occupancy Tax revenue budget by $200,000 to better align the budget with current collection trends. This adjustment improves forecast accuracy and reflects more conservative revenue assumptions for the remainder of the fiscal year.
3. Other Revenue: $100,000 Increase in FY 2025-26 (ongoing) The Police Department is proposing to hire two part-time positions to support the Parking Services Program. The positions are anticipated to be revenue-generating, with increased enforcement activity expected to result in approximately $200,000 in additional parking fine revenue once fully implemented. The proposed $100,000 revenue increase in the current fiscal year reflects a partial-year impact based on the anticipated start dates of the positions.
If approved, the parking fine revenue budget would be increased by $100,000 in the current fiscal year. Based on observed results, staff will return at the Mid-Cycle Budget Update with a recommendation to adjust ongoing parking fine revenue in FY 2026-27 to reflect a full year impact. Additional detail regarding the request is discussed under item 5 below.
4. Transfer the budget for hosting the Mayor’s Conference from FY 2026-27 to FY 2025-26: $8,000 (one-time)
It is necessary to transfer of $8,000 from the FY 2026-27 budget to FY 2025-26 to align budgeted resources with the timing of the Mayor’s Conference, which is occurring earlier than anticipated. This adjustment is a timing-related change only and does not increase overall program costs.
5. Part-Time Police Parking Services Positions: $51,000 (ongoing) To improve responsiveness to parking enforcement and abandoned vehicle complaints, the Police Department is requesting the addition of two part-time Community Specialist positions in Parking Services. These positions would expand enforcement coverage during peak periods, evenings, weekends, and special events, while reducing the need for sworn officers to respond to lower-level parking-related calls. The positions are
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
anticipated to be fully cost-covered and revenue-generating, with $100,000 in new parking fine revenue offsetting approximately $51,000 in new costs in FY 2025-26, resulting in a net positive impact to the General Fund. Based on implementation results in FY 2025-26, staff will make recommendations at the Mid-Cyle Update to align ongoing expenditure and revenue assumptions for Parking Services. In addition to operational benefits, the positions would support workforce development by creating a pathway for future Police Officer and Police Professional Staff recruitment through a part-time track.
C. General Fund Reserves/Fiscal Stability Fund
The Fiscal Stability Fund (Fund 138) was established in April 2023 with $10.5 million in one-time General Fund residuals from FY 2021-22 and increased by an additional $2.1 million in February 2024 using FY 2022-23 residuals. The fund was proactively created by the City Council to provide temporary financial support to the General Fund during periods of structural imbalance while preserving the City’s reserve policy targets.
When the FY 2023-24 and FY 2024-25 budgets were adopted, it was assumed that the full balance of the Fiscal Stability Fund would be required to address projected operating deficits. As of June 30, 2025, the Fiscal Stability Fund balance totaled approximately $11.2 million. After using $2.6 million to close out FY 2024-25, an estimated balance of $8.6 million remains available to support the adopted budget deficits in FYs 2025-26 and 2026-27. As previously noted, final FY 2024-25 results were more favorable than anticipated, primarily due to higher-than-expected one-time revenues, including increased interest earnings, reimbursements and repayments, and other non-recurring transfers, which reduced reliance on the Fiscal Stability Fund.
The adopted budgets for the current and next fiscal years (FYs 2025-26 and 2026-27) remain structurally imbalanced and include planned reliance on reserves of $2.4 million and $2.9 million, respectively. At the time of the FYs 2025-26 and 2026-27 Biennial Budget adoption, it was assumed that the Fiscal Stability Fund would be fully depleted and that General Fund reserves would be required to address the remaining gaps.
Based on actual FY 2024-25 operating results, Fiscal Stability Fund resources remain available, and the proposed use of these remaining balances is presented in Table 6.
Table 6: FYs 2025-26 & 2026-27 Use of Fiscal Stability Fund Fiscal Stability Fund (Fund 138) (in
millions)
Available Balance 8.60
Budgeted use of reserves in FY 2025-26 (2.40)
Budgeted use of reserves in FY 2026-27 (2.90)
Forecasted FY 2026-27 Ending Balance $3.30
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
Chart 1 below illustrates the historical growth of General Fund revenues and expenditures from FY 2018-29 to FY 2025-26. During this period expenditure growth has typically outpaced revenue growth, creating structural imbalances in the operating budget. Since FY 2018-19, revenues have increased by 29%, compared to a 38% increase in expenditures. The resulting gap between ongoing revenues and ongoing service costs has required the City to rely on the Fiscal Stability Fund to maintain target reserve levels, manage economic uncertainty, and bridge structural deficits in recent biennial budgets. Looking ahead, the Fiscal Stability Fund will continue to play a vital role in supporting near-term budget balance and absorbing volatility as the City advances longer-term strategies to align ongoing expenditures with sustainable revenue growth.
Chart 1: Historical General Fund Revenues and Expenditures D. Fiscal Year 2025-26 Proposed Adjustments to Other Funds State Supplemental Law Enforcement Fund (112): $200,000 (one-time) Staff recommends appropriating an additional $200,000 Supplemental Law Enforcement Service Fund (SSLEF) to support costs related to police officer trainees currently enrolled or anticipated to enroll in the academy during FY 2025-26. These funds will allow the Police Department to continue filling existing and anticipated sworn vacancies using available SSLEF resources, which are intended to supplement public safety staffing and services. The request is supported by detailed cost projections for approximately 10-14 trainees and includes a modest contingency. The appropriation utilizes existing fund balance and has no fiscal impact on the General Fund. $-
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
$160,000,000
FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 Budget
Revenues Expenses
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
Housing Conservation Fund (252): $135,000 (one-time)
Due to a staff oversight when building the adopted budget, it is necessary to increase the FY 2025-26 Community Development Block Grant (CDBG) allocation to Habitat for Humanity for administration of the Housing Conservation Program (Fund 252), allowing the City to fully encumber and draw down all available federal funds for the year. This funding will be from CDBG fund balance. The City’s FY 2025-26 Action Plan submitted to HUD correctly shows this allocation, but it was left out of the adopted General Fund budget. The Housing Conservation Program supports low and moderate-income homeowners by funding critical home repairs and improvements, including health and safety repairs, accessibility modifications, weatherization, and housing preservation efforts that help residents safely remain in their homes.
Golf Course Fund (700): $197,000 (ongoing)
Council approved a new five-year golf course maintenance services agreement on December 2, 2025, that increased costs for golf course maintenance after the budget was adopted. Consequently, the budget needs to be adjusted to reflect this increased cost. The increased costs will be fully supported by revenues generated at Diablo Creek Golf Course and will not result in any impact to the General Fund. The agreement anticipates that operating costs will continue to be absorbed within the enterprise fund and this adjustment will be incorporated into next year’s budget when the Mid-Cycle Budget Report is brought before Council.
Part III: City of Concord’s Salary Schedule
The California Public Employees’ Retirement System (CalPERS) requires that the City of Concord’s Salary Schedule be formally adopted by the City Council in a public meeting after changes to it occur. Attached is the most current salary schedule, which reflects the following changes since the last publicly adopted salary schedule:
• The Camp Concord contract position wage has been adjusted, effective December 22, 2025. The contract is updated each calendar year, and the updated hourly wage of $54.67 reflects the new contract’s rate. • California’s minimum wage increased from $16.50 to $16.90 per hour effective January 1, 2026, and the wages of nine limited-term classifications have been adjusted to reflect the increase.
To be in compliance with CalPERS, Council must adopt the City’s revised Salary Schedule incorporating these adjustments. See Attachment 2.
Financial Impact
The proposed actions allow the City to maintain a reserve level of 30% through FY 2025-26.
City Council Agenda Report
Agenda Item No. 5.b
February 10, 2026
Budget Adjustment or Transfer Required
See Exhibit A to Attachment 1.
Environmental Determination
Council action on this item is exempt from California Environmental Quality Act (CEQA) review as the amendment and approval of municipal budgets are not activities that constitute a "project" within the meaning of CEQA Guidelines Sections 15060(c)(2), 15060(c)(3) and/or 15378 (including subsections 15378(b)(2), (4) and/or (5)), do not commit the City to a definite course of action, and do not constitute discretionary approval of a specific project. If this were determined to be a “project” for CEQA analysis, this activity falls within the "Common Sense" CEQA exemption set forth in CEQA Guidelines Section 15061(b)(3) and/or and the statutory exemption set forth in CEQA Guidelines Section 15273 because it involves government funding/fiscal activities. This determination reflects the City’s independent judgment and analysis.
Public Contact
The City Council Agenda was posted.
Attachments
1. Resolution amending the Fiscal Years 2025-26 and 2026-67 Municipal Budgets with Exhibit A – Municipal Budget Amendment Detail
2. Resolution adopting the City of Concord’s Salary Schedule with Exhibit A – Salary Schedule effective January 1, 2026
3. Mid-Year Update on Accomplishments
Res No. 26-XX 1
BEFORE THE CITY COUNCIL OF THE CITY OF CONCORD
COUNTY OF CONTRA COSTA, STATE OF CALIFORNIA
A Resolution Amending the Fiscal Years 2025-26 and
2026-27 Municipal Budgets
Resolution No. 26-XX
/
WHEREAS, the City Manager has recommended amendments to the to the Municipal Operating Budget for Fiscal Years 2025-26 and 2026-27; and WHEREAS, the amendments reflect the updated fund balances available as determined in the final accounting and audit of the city’s finances; and
WHEREAS, the amendments are in compliance with the City’s Fiscal Stability Ordinance Section 3.20.020, entitled use of One-Time and Budget Residual Funds; and WHEREAS, the City’s Fiscal Stability Ordinance requires that one-time funds and budget residual funds identified through each budget cycle shall only be used to fund the following city needs as directed by the City Council at a public meeting. The City Council retains the discretion of how to allocate these funds between the categories listed below: (1) annual recommended contribution to unfunded liabilities; (2) infrastructure backlog; (3) unfunded post-employment benefits; (4) special or one-time, non-recurring expenditure needs of the City; and (5) strengthening the City’s General Fund Reserves; and
WHEREAS, the City Council has directed staff as to any amendments thereto.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CONCORD DOES RESOLVE AS FOLLOWS:
Section 1. Council action on this item is exempt from California Environmental Quality Act (CEQA) review as the amendment and approval of municipal budgets are not activities that constitute a "project" within the meaning of CEQA Guidelines Sections 15060(c)(2), 15060(c)(3) and/or 15378 (including subsections 15378(b)(2), (4) and/or (5)), do not commit the City to a definite course of action, and do not constitute discretionary approval of a specific project. If this were determined to be a “project” for CEQA analysis, this activity falls within the "Common Sense" CEQA exemption set Attachment 1
Res No. 26-XX 2
forth in CEQA Guidelines Section 15061(b)(3) and/or and the statutory exemption set forth in CEQA Guidelines Section 15273 because it involves government funding/fiscal activities. This determination reflects the City’s independent judgment and analysis.
Section 2. Approves the City Manager’s recommendations with regard to amendments to the Municipal Budget for Fiscal Years 2025-26 and 2026-27, as shown in Exhibit A, and authorizes such transfer and any associated appropriations.
Section 3. This resolution shall become effective immediately upon its passage and adoption.
PASSED AND ADOPTED by the City Council of the City of Concord on February 10, 2026, by the following vote:
AYES: Councilmembers -
NOES: Councilmembers -
ABSTAIN: Councilmembers -
ABSENT: Councilmembers -
I HEREBY CERTIFY that the foregoing Resolution No. 26-XX was duly and regularly adopted at a regular meeting of the City Council of the City of Concord on February 10, 2026.
Joelle Fockler, MMC
City Clerk
APPROVED AS TO FORM:
Susanne Meyer Brown
City Attorney
Attachment: Exhibit A – Fiscal Years 2025-26 and 2026-27 Municipal Budget Amendment Detail
Exhibit A to Attachment 1
Fiscal Years 2025-26 and 2026-27 Municipal Budget Amendment Detail
STAFF RECOMMENDATIONS
General Fund Revenue
FY 2025-26
1. Property Tax: $200,000 (ongoing)
2. Transient Occupancy Tax: ($200,000) (ongoing)
3. Parking Fine Revenue: $100,000 (ongoing)
General Fund Appropriations
FY 2025-26
4. Transfer $2,600,000 from the Fiscal Stability Fund (Fund 138) to the General Fund (Fund 100) (one-time)
5. Mayor’s Conference: Transfer FY 2026-27 appropriation of $8,000 to FY 2025-26 to align with timing of the Mayor’s Conference (one-time)
6. Two Part-Time Police Parking Services Positions: $51,000 (ongoing) FY 2026-27
7. Mayor’s Conference: Transfer FY 2026-27 appropriation of $8,000 to FY 2025-26 to align with timing of Mayor’s Conference (one-time)
Other Fund Appropriations
FY 2025-26
8. State Supplemental Law Enforcement (SSLE) Fund 112 – Appropriate from fund balance to support additional Police Academy cadets: $200,000 (one-time)
9. Housing Conservation Fund 252 – Appropriate from fund balance to support Habitat for Humanity’s administration of the Housing Conservation Program:
$135,000 (one-time).
10.Golf Course Fund 700 – Appropriate from fund balance to align expenditure for the golf course maintenance with new agreement approved by the City Council on December 2, 2025: $197,000 (ongoing)
Res. No. 26-XX 1
BEFORE THE CITY COUNCIL OF THE CITY OF CONCORD
COUNTY OF CONTRA COSTA, STATE OF CALIFORNIA
A Resolution Adopting the City of Concord’s Salary
Schedule Effective January 1, 2026, in Accordance
with the Requirements of California Public
Employees Retirement System (CalPERS) for a
Publicly Available Pay Schedule
Resolution No. 26-XX
/
WHEREAS, the California Public Employees Retirement System (CalPERS) regulations require member agencies formally adopt a publicly available pay schedule under Government Code Section 20636(b)(1) and California Code of Regulations (CCR) Title 2, Section 570.5; and WHEREAS, the City Council of the City of Concord has the authority to implement Government Code Section 20636(b)(1); and
WHEREAS, attached to this resolution is the City’s comprehensive salary schedule, effective January 1, 2026, amending the wage increase for Camp Director position; and WHEREAS, CalPERS regulations require all of this information be included in one document; and
WHEREAS, the City Council, after giving all public notices required by State Law and the Concord Municipal Code, held a duly noticed hearing on February 10, 2026, on this item, considered testimony and information received at the public meeting, the oral and written reports from City staff dated February 10, 2026, as well as other documents contained in the record of proceeding which are maintained at the offices of the City of Concord City Clerk’s Office, 1950 Parkside Drive, Concord, CA.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF CONCORD DOES RESOLVE AS FOLLOWS:
Section 1. Council action on this item is exempt from California Environmental Quality Act (CEQA) review as the amendment and approval of municipal budgets are not activities that constitute a "project" within the meaning of CEQA Guidelines Sections 15060(c)(2), 15060(c)(3) and/or 15378 (including subsections 15378(b)(2), (4) and/or (5)), do not commit the City to a definite course of Attachment 2
Res. No. 26-XX 2
action, and do not constitute discretionary approval of a specific project. If this were determined to be a “project” for CEQA analysis, this activity falls within the "Common Sense" CEQA exemption set forth in CEQA Guidelines Section 15061(b)(3) and/or and the statutory exemption set forth in CEQA Guidelines Section 15273 because it involves government funding/fiscal activities. This determination reflects the City’s independent judgment and analysis.
Section 2. The City Council adopts the salary schedule effective January 1, 2026, as shown in Exhibit A hereto.
Section 3. This resolution shall become effective immediately upon its passage and adoption.
PASSED AND ADOPTED by the City Council of the City of Concord on February 10, 2026, by the following vote:
AYES: Councilmembers –
NOES: Councilmembers –
ABSTAIN: Councilmembers –
ABSENT: Councilmembers –
I HEREBY CERTIFY that the foregoing Resolution No. 26-XX was duly and regularly adopted at a regular meeting of the City Council of the City of Concord on February 10, 2026.
Joelle Fockler, MMC
City Clerk
APPROVED AS TO FORM:
Susanne Meyer Brown
City Attorney
Attachment: Exhibit A- Salary Schedule
City of Concord Salary Schedule
Job Code Classification Title Unit Schedule Grade Step 1 Hourly
Step 2
Hourly
Step 3
Hourly
Step 4
Hourly
Step 5
Hourly
Step 6
Hourly
Step 1
Mthly.
Step 2
Mthly.
Step 3
Mthly.
Step 4
Mthly.
Step 5
Mthly.
Step 6
Mthly. Effective
4156 Account Clerk I ATC 4156 4 25.7244 $ 27.0110$ 28.3613$ 29.7795$ 31.2683$ 32.8318$ 4,459 $ 4,682 $ 4,916 $ 5,162 $ 5,420 $ 5,691 $ 7/7/2025 4154 Account Clerk II ATC 4154 6 29.4681 $ 30.9412$ 32.4885$ 34.1130$ 35.8186$ 37.6096$ 5,108 $ 5,363 $ 5,631 $ 5,913 $ 6,209 $ 6,519 $ 7/7/2025 4155 Account Clerk III ATC 4155 7 31.6065 $ 33.1867$ 34.8464$ 36.5888$ 38.4180$ 40.3390$ 5,478 $ 5,752 $ 6,040 $ 6,342 $ 6,659 $ 6,992 $ 7/7/2025 4151 Accounting Technician I ATC 4151 8 33.9749 $ 35.6735$ 37.4571$ 39.3300$ 41.2965$ 43.3614$ 5,889 $ 6,183 $ 6,493 $ 6,817 $ 7,158 $ 7,516 $ 7/7/2025 4152 Accounting Technician II ATC 4152 9 36.6080 $ 38.4384$ 40.3603$ 42.3783$ 44.4976$ 46.7220$ 6,345 $ 6,663 $ 6,996 $ 7,346 $ 7,713 $ 8,098 $ 7/7/2025 4153 Accounts Payable Team Leader ATC 4153 9 36.6080 $ 38.4384$ 40.3603$ 42.3783$ 44.4976$ 46.7220$ 6,345 $ 6,663 $ 6,996 $ 7,346 $ 7,713 $ 8,098 $ 7/7/2025 4588 Administrative Clerk I ATC PG-ATC 3 22.9652 $ 24.1134$ 25.3192$ 26.5854$ 27.9144$ 29.3103$ 3,981 $ 4,180 $ 4,389 $ 4,608 $ 4,838 $ 5,080 $ 7/7/2025 4586 Administrative Clerk II ATC PG-ATC 6 28.1037 $ 29.5088$ 30.9844$ 32.5337$ 34.1604$ 35.8684$ 4,871 $ 5,115 $ 5,371 $ 5,639 $ 5,921 $ 6,217 $ 7/7/2025 4584 Administrative Clerk III ATC PG-ATC 7 30.1434 $ 31.6502$ 33.2331$ 34.8949$ 36.6395$ 38.4713$ 5,225 $ 5,486 $ 5,760 $ 6,048 $ 6,351 $ 6,668 $ 7/7/2025 4570 Administrative Secretary ATC PG-ATC 9 34.9132 $ 36.6587$ 38.4918$ 40.4163$ 42.4373$ 44.5588$ 6,052 $ 6,354 $ 6,672 $ 7,005 $ 7,356 $ 7,724 $ 7/7/2025 3374 Building Inspector ATC 3374 11 45.8050 $ 48.0952$ 50.5000$ 53.0251$ 55.6766$ 58.4604$ 7,940 $ 8,337 $ 8,753 $ 9,191 $ 9,651 $ 10,133 $ 7/7/2025 3795 Buyer ATC 3795 9 36.6080 $ 38.4384$ 40.3603$ 42.3783$ 44.4976$ 46.7220$ 6,345 $ 6,663 $ 6,996 $ 7,346 $ 7,713 $ 8,098 $ 7/7/2025 3376 Code Enforcement Officer ATC PG-ATC 11 40.7932$ 42.8330$ 44.9746$ 47.2235$ 49.5846$ 52.0642$ 7,071 $ 7,424 $ 7,796 $ 8,185 $ 8,595 $ 9,024 $ 7/7/2025 7126 Community Service Officer ATC 7126 7 31.6065 $ 33.1867$ 34.8464$ 36.5888$ 38.4180$ 40.3390$ 5,478 $ 5,752 $ 6,040 $ 6,342 $ 6,659 $ 6,992 $ 7/7/2025 3354 Construction Inspector ATC 3354 10 42.4130 $ 44.5337$ 46.7604$ 49.0985$ 51.5537$ 54.1310$ 7,352 $ 7,719 $ 8,105 $ 8,510 $ 8,936 $ 9,383 $ 7/7/2025 4337 Duplicate/Offset Printing Oper. ATC PG-ATC 5 26.1687 $ 27.4772$ 28.8510$ 30.2937$ 31.8084$ 33.3991$ 4,536 $ 4,763 $ 5,001 $ 5,251 $ 5,513 $ 5,789 $ 7/7/2025 7130 Forensic Specialist I ATC 7130 8 33.9749 $ 35.6735$ 37.4571$ 39.3300$ 41.2965$ 43.3614$ 5,889 $ 6,183 $ 6,493 $ 6,817 $ 7,158 $ 7,516 $ 7/7/2025 7131 Forensic Specialist II ATC 7131 10 39.5484 $ 41.5260$ 43.6020$ 45.7823$ 48.0715$ 50.4751$ 6,855 $ 7,198 $ 7,558 $ 7,936 $ 8,332 $ 8,749 $ 7/7/2025 3754 GIS Technician ATC PG-ATC 8 32.4017 $ 34.0219$ 35.7229$ 37.5091$ 39.3845$ 41.3540$ 5,616 $ 5,897 $ 6,192 $ 6,502 $ 6,827 $ 7,168 $ 7/7/2025 4576 Graphic Designer ATC PG-ATC 8 32.4017 $ 34.0219$ 35.7229$ 37.5091$ 39.3845$ 41.3540$ 5,616 $ 5,897 $ 6,192 $ 6,502 $ 6,827 $ 7,168 $ 7/7/2025 3750 Information Sys. Technician I ATC PG-ATC 7 30.1434 $ 31.6502$ 33.2331$ 34.8949$ 36.6395$ 38.4713$ 5,225 $ 5,486 $ 5,760 $ 6,048 $ 6,351 $ 6,668 $ 7/7/2025 3752 Information Sys. Technician II ATC PG-ATC 9 34.9132 $ 36.6587$ 38.4918$ 40.4163$ 42.4373$ 44.5588$ 6,052 $ 6,354 $ 6,672 $ 7,005 $ 7,356 $ 7,724 $ 7/7/2025 3341 Permit Center Technician I ATC PG-ATC 7 30.1434 $ 31.6502$ 33.2331$ 34.8949$ 36.6395$ 38.4713$ 5,225 $ 5,486 $ 5,760 $ 6,048 $ 6,351 $ 6,668 $ 7/7/2025 3342 Permit Center Technician II ATC PG-ATC 9 34.9132 $ 36.6587$ 38.4918$ 40.4163$ 42.4373$ 44.5588$ 6,052 $ 6,354 $ 6,672 $ 7,005 $ 7,356 $ 7,724 $ 7/7/2025 3343 Permit Center Technician III ATC PG-ATC 10 37.7176$ 39.6034$ 41.5835$ 43.6628$ 45.8459$ 48.1383$ 6,538 $ 6,865 $ 7,208 $ 7,568 $ 7,947 $ 8,344 $ 7/7/2025 3336 Planning Technician ATC PG-ATC 10 37.7176$ 39.6034$ 41.5835$ 43.6628$ 45.8459$ 48.1383$ 6,538 $ 6,865 $ 7,208 $ 7,568 $ 7,947 $ 8,344 $ 7/7/2025 4558 Police Records Clerk I ATC 4558 3 24.0801 $ 25.2841$ 26.5483$ 27.8758$ 29.2695$ 30.7332$ 4,174 $ 4,383 $ 4,602 $ 4,832 $ 5,073 $ 5,327 $ 7/7/2025 4556 Police Records Clerk II ATC 4556 6 29.4681 $ 30.9412$ 32.4885$ 34.1130$ 35.8186$ 37.6096$ 5,108 $ 5,363 $ 5,631 $ 5,913 $ 6,209 $ 6,519 $ 7/7/2025 4554 Police Records Clerk III ATC 4554 7 31.6065 $ 33.1867$ 34.8464$ 36.5888$ 38.4180$ 40.3390$ 5,478 $ 5,752 $ 6,040 $ 6,342 $ 6,659 $ 6,992 $ 7/7/2025 3630 Program Assistant ATC PG-ATC 9 34.9132 $ 36.6587$ 38.4918$ 40.4163$ 42.4373$ 44.5588$ 6,052 $ 6,354 $ 6,672 $ 7,005 $ 7,356 $ 7,724 $ 7/7/2025 3701 Programmer Analyst ATC PG-ATC 12 44.0692$ 46.2724$ 48.5863$ 51.0153$ 53.5663$ 56.2448$ 7,639 $ 8,021 $ 8,422 $ 8,843 $ 9,285 $ 9,749 $ 7/7/2025 3640 Rec & Special Events Prg Coord. ATC PG-ATC 11 40.7932$ 42.8330$ 44.9746$ 47.2235$ 49.5846$ 52.0642$ 7,071 $ 7,424 $ 7,796 $ 8,185 $ 8,595 $ 9,024 $ 7/7/2025 5128 Rec Cus Svc Coordinator ATC PG-ATC 7 30.1434 $ 31.6502$ 33.2331$ 34.8949$ 36.6395$ 38.4713$ 5,225 $ 5,486 $ 5,760 $ 6,048 $ 6,351 $ 6,668 $ 7/7/2025 5140 Recreation Program Aide ATC PG-ATC 6 28.1037 $ 29.5088$ 30.9844$ 32.5337$ 34.1604$ 35.8684$ 4,871 $ 5,115 $ 5,371 $ 5,639 $ 5,921 $ 6,217 $ 7/7/2025 4159 Revenue Generation Team Leader ATC 4159 10 39.5484 $ 41.5260$ 43.6020$ 45.7823$ 48.0715$ 50.4751$ 6,855 $ 7,198 $ 7,558 $ 7,936 $ 8,332 $ 8,749 $ 7/7/2025 3369 Senior Building Inspector ATC 3369 12 50.3796 $ 52.8985$ 55.5434$ 58.3206$ 61.2368$ 64.2983$ 8,732 $ 9,169 $ 9,628 $ 10,109 $ 10,614 $ 11,145 $ 7/7/2025 3355 Senior Construction Inspector ATC 3355 11 45.7971 $ 48.0869$ 50.4914$ 53.0158$ 55.6668$ 58.4501$ 7,938 $ 8,335 $ 8,752 $ 9,189 $ 9,649 $ 10,131 $ 7/7/2025 4336 Sr Offset Duplic. Print. Oper. ATC PG-ATC 7 30.1434 $ 31.6502$ 33.2331$ 34.8949$ 36.6395$ 38.4713$ 5,225 $ 5,486 $ 5,760 $ 6,048 $ 6,351 $ 6,668 $ 7/7/2025 3323 Transportation Program Coord. ATC PG-ATC 10 37.7176$ 39.6034$ 41.5835$ 43.6628$ 45.8459$ 48.1383$ 6,538 $ 6,865 $ 7,208 $ 7,568 $ 7,947 $ 8,344 $ 7/7/2025 Class Title Changed to job code 2322 (7.9.25) and 2324 (10.31.25), Pay rate of Camp Director (12.22.2025); minimum wage change (1.1.2026) Exhibit A to Attachment 2
City of Concord Salary Schedule
Job Code Classification Title Unit Schedule Grade Step 1 Hourly
Step 2
Hourly
Step 3
Hourly
Step 4
Hourly
Step 5
Hourly
Step 6
Hourly
Step 1
Mthly.
Step 2
Mthly.
Step 3
Mthly.
Step 4
Mthly.
Step 5
Mthly.
Step 6
Mthly. Effective
4150 Treasury Technician ATC 4150 7 31.6065 $ 33.1867$ 34.8464$ 36.5888$ 38.4180$ 40.3390$ 5,478$ 5,752$ 6,040$ 6,342$ 6,659$ 6,992$ 7/7/2025 3757 Video Services Coordinator ATC PG-ATC 9 34.9132 $ 36.6587$ 38.4918$ 40.4163$ 42.4373$ 44.5588$ 6,052$ 6,354$ 6,672$ 7,005$ 7,356$ 7,724$ 7/7/2025 7128 Youth Violence Prevention Spec ATC PG-ATC 10 37.7176$ 39.6034$ 41.5835$ 43.6628$ 45.8459$ 48.1383$ 6,538$ 6,865$ 7,208$ 7,568$ 7,947$ 8,344$ 7/7/2025 1705 City Attorney EXEC CONTR 159.2520$ 159.2520$ 27,604$ 27,604$ 7/7/2025 1521 City Manager EXEC CONTR 166.7942$ 166.7942$ 28,911$ 28,911$ 7/7/2025 1760 Director of Recreation Services EXEC MGMT EXECUTIVE E-4 92.9556 $ 127.8064$ 16,112$ 22,153$ 7/7/2025 1733 Director of Community Development EXEC MGMT EXECUTIVE E-4 92.9556 $ 127.8064$ 16,112$ 22,153$ 7/7/2025 1725 Director of Public Works EXEC MGMT EXECUTIVE E-4 92.9556 $ 127.8064$ 16,112$ 22,153$ 7/7/2025 1750 Director Commun Reuse Planning EXEC MGMT EXECUTIVE E-4 92.9556 $ 127.8064$ 16,112$ 22,153$ 7/7/2025 1727 Director of Finance EXEC MGMT EXECUTIVE E-4 92.9556 $ 127.8064$ 16,112$ 22,153$ 7/7/2025 1745 Director of Human Resources EXEC MGMT EXECUTIVE E-4 92.9556 $ 127.8064$ 16,112$ 22,153$ 7/7/2025 1728 Director of Info. Technology EXEC MGMT EXECUTIVE E-4 92.9556 $ 127.8064$ 16,112$ 22,153$ 7/7/2025 1712 Assistant City Manager EXEC MGMT EXECUTIVE E-6 109.7316$ 150.8718$ 19,020$ 26,151$ 7/7/2025 1720 Chief of Police CHIEF EXECUTIVECP E-6 109.7316 $ $ 158.4155* 19,020$ 27,459$ 7/7/2025 3758 Admin Services Coordinator CONF PG-C 10 48.6414 $ 51.0732$ 53.6271$ 56.3084$ 59.1238$ 62.0803$ 8,431$ 8,853$ 9,295$ 9,760$ 10,248 $ 10,761$ 7/7/2025 4571 Confidential Secretary CONF PG-C 7 39.6277 $ 41.6091$ 43.6895$ 45.8741$ 48.1678$ 50.5764$ 6,869$ 7,212$ 7,573$ 7,952$ 8,349$ 8,767$ 7/7/2025 4568 Exec Secretary CONF PG-C 8 41.9870 $ 44.0865$ 46.2908$ 48.6054$ 51.0359$ 53.5876$ 7,278$ 7,642$ 8,024$ 8,425$ 8,846$ 9,289$ 7/7/2025 4569 Exec Secretary - Confidential CONF PG-C 8 41.9870 $ 44.0865$ 46.2908$ 48.6054$ 51.0359$ 53.5876$ 7,278$ 7,642$ 8,024$ 8,425$ 8,846$ 9,289$ 7/7/2025 4564 Exec.Assistant - Council/Mgr. CONF PG-C 9 44.7039 $ 46.9391$ 49.2861$ 51.7504$ 54.3381$ 57.0551$ 7,749$ 8,136$ 8,543$ 8,970$ 9,419$ 9,890$ 7/7/2025 4566 Executive Legal Secretary CONF PG-C 9 44.7039 $ 46.9391$ 49.2861$ 51.7504$ 54.3381$ 57.0551$ 7,749$ 8,136$ 8,543$ 8,970$ 9,419$ 9,890$ 7/7/2025 4580 Human Resources Specialist CONF PG-C 8 41.9870 $ 44.0865$ 46.2908$ 48.6054$ 51.0359$ 53.5876$ 7,278$ 7,642$ 8,024$ 8,425$ 8,846$ 9,289$ 7/7/2025 4587 Human Resources Technician I CONF PG-C 3 31.6130 $ 33.1935$ 34.8534$ 36.5960$ 38.4259$ 40.3474$ 5,480$ 5,754$ 6,041$ 6,343$ 6,660$ 6,994$ 7/7/2025 4585 Human Resources Technician II CONF PG-C 5 35.4423 $ 37.2145$ 39.0751$ 41.0290$ 43.0804$ 45.2346$ 6,143$ 6,451$ 6,773$ 7,112$ 7,467$ 7,841$ 7/7/2025 4567 Legal Secretary CONF PG-C 7 39.6277 $ 41.6091$ 43.6895$ 45.8741$ 48.1678$ 50.5764$ 6,869$ 7,212$ 7,573$ 7,952$ 8,349$ 8,767$ 7/7/2025 4565 Paralegal CONF PG-C 9 44.7039 $ 46.9391$ 49.2861$ 51.7504$ 54.3381$ 57.0551$ 7,749$ 8,136$ 8,543$ 8,970$ 9,419$ 9,890$ 7/7/2025 4158 Payroll Specialist CONF PG-C 9 44.7039 $ 46.9391$ 49.2861$ 51.7504$ 54.3381$ 57.0551$ 7,749$ 8,136$ 8,543$ 8,970$ 9,419$ 9,890$ 7/7/2025 4160 Payroll Technician I CONF PG-C 3 31.6130 $ 33.1935$ 34.8534$ 36.5960$ 38.4259$ 40.3474$ 5,480$ 5,754$ 6,041$ 6,343$ 6,660$ 6,994$ 7/7/2025 4161 Payroll Technician II CONF PG-C 5 35.4423 $ 37.2145$ 39.0751$ 41.0290$ 43.0804$ 45.2346$ 6,143$ 6,451$ 6,773$ 7,112$ 7,467$ 7,841$ 7/7/2025 9531 Camp Director CONTRACT CONTRACT 54.6729$ 54.6729$ 9,477$ 9,477$ 12/22/2025 9555 Recycling Theft Prevent Spec CONTRACT CONTRACT 28.3236$ 28.3236$ 4,909$ 4,909$ 1/17/2020 9557 Vehicle Abatement Officer CONTRACT CONTRACT 28.9590$ 28.9590$ 5,020$ 5,020$ 4/14/2025 9542 Violence -Victim Advocate CONTRACT CONTRACT 35.2496$ 35.2496$ 6,110$ 6,110$ 7/1/2019 *Required Master's Degree to obtain the top pay range; otherwise, the top pay range is 5% lower than maximum rate.
Class Title Changed to job code 2322 (7.9.25) and 2324 (10.31.25), Pay rate of Camp Director (12.22.2025); minimum wage change (1.1.2026)
City of Concord Salary Schedule
Job Code Classification Title Unit Schedule Grade Step 1 Hourly
Step 2
Hourly
Step 3
Hourly
Step 4
Hourly
Step 5
Hourly
Step 6
Hourly
Step 1
Mthly.
Step 2
Mthly.
Step 3
Mthly.
Step 4
Mthly.
Step 5
Mthly.
Step 6
Mthly. Effective
1341 City Treasurer COUNCIL ELECTED 600$ 600$ 12/9/2008 1127 Council Member COUNCIL ELECTED 1,900$ 1,900$ 11/5/2024 1121 Mayor COUNCIL ELECTED 1,900$ 1,900$ 11/5/2024 1124 Vice Mayor COUNCIL ELECTED 1,900$ 1,900$ 11/5/2024 4760 Automotive Parts & Svs Tech. F AND O 4760 7 31.6065 $ 33.1867$ 34.8464$ 36.5888$ 38.4180$ 40.3390$ 5,478$ 5,752$ 6,040$ 6,342$ 6,659$ 6,992$ 7/7/2025 6812 Custodian F AND O 6812 4 25.7244 $ 27.0110$ 28.3613$ 29.7795$ 31.2683$ 32.8318$ 4,459$ 4,682$ 4,916$ 5,162$ 5,420$ 5,691$ 7/7/2025 6163 Environmental Maint. Tech. F AND O 6163 8 33.9749 $ 35.6735$ 37.4571$ 39.3300$ 41.2965$ 43.3614$ 5,889$ 6,183$ 6,493$ 6,817$ 7,158$ 7,516$ 7/7/2025 6412 Equipment Mechanic F AND O PG-F&O 10 37.7176 $ 39.6034$ 41.5835$ 43.6628$ 45.8459$ 48.1383$ 6,538$ 6,865$ 7,208$ 7,568$ 7,947$ 8,344$ 7/7/2025 6542 Facilities Maintenance Tech F AND O PG-F&O 8 32.4017 $ 34.0219$ 35.7229$ 37.5091$ 39.3845$ 41.3540$ 5,616$ 5,897$ 6,192$ 6,502$ 6,827$ 7,168$ 7/7/2025 6722 General Laborer F AND O 6722 2 22.5912 $ 23.7207$ 24.9069$ 26.1523$ 27.4600$ 28.8327$ 3,916$ 4,112$ 4,317$ 4,533$ 4,760$ 4,998$ 7/7/2025 6314 Heavy Equipment Operator I F AND O PG-F&O 9 34.9132 $ 36.6587$ 38.4918$ 40.4163$ 42.4373$ 44.5588$ 6,052$ 6,354$ 6,672$ 7,005$ 7,356$ 7,724$ 7/7/2025 6312 Heavy Equipment Operator II F AND O PG-F&O 10 37.7176 $ 39.6034$ 41.5835$ 43.6628$ 45.8459$ 48.1383$ 6,538$ 6,865$ 7,208$ 7,568$ 7,947$ 8,344$ 7/7/2025 6616 Landscape Gardener F AND O 6616 9 35.5911 $ 37.3705$ 39.2392$ 41.2012$ 43.2614$ 45.4242$ 6,169$ 6,478$ 6,801$ 7,142$ 7,499$ 7,874$ 7/7/2025 6193 Lead Custodian F AND O 6193 6 29.4681 $ 30.9412$ 32.4885$ 34.1130$ 35.8186$ 37.6096$ 5,108$ 5,363$ 5,631$ 5,913$ 6,209$ 6,519$ 7/7/2025 4351 Lead Dispatcher F AND O 4351 11 50.1076 $ 52.6134$ 55.2435$ 58.0059$ 60.9065$ 63.9517$ 8,685$ 9,120$ 9,576$ 10,054 $ 10,557$ 11,085$ 7/7/2025 6562 Lead Maint. Collection System Worker F AND O 6562 10 39.5484 $ 41.5260$ 43.6020$ 45.7823$ 48.0715$ 50.4751$ 6,855$ 7,198$ 7,558$ 7,936$ 8,332$ 8,749$ 7/7/2025 6512 Maintenance Carpenter F AND O PG-F&O 10 37.7176 $ 39.6034$ 41.5835$ 43.6628$ 45.8459$ 48.1383$ 6,538$ 6,865$ 7,208$ 7,568$ 7,947$ 8,344$ 7/7/2025 6552 Maintenance Collection System Wkr F AND O 6552 9 36.6080 $ 38.4384$ 40.3603$ 42.3783$ 44.4976$ 46.7220$ 6,345$ 6,663$ 6,996$ 7,346$ 7,713$ 8,098$ 7/7/2025 6532 Maintenance Electrician F AND O 6532 10 42.9966 $ 45.1466$ 47.4041$ 49.7743$ 52.2632$ 54.8760$ 7,453$ 7,825$ 8,217$ 8,628$ 9,059$ 9,512$ 7/7/2025 6614 Maintenance Gardener F AND O 6614 8 33.9749 $ 35.6735$ 37.4571$ 39.3300$ 41.2965$ 43.3614$ 5,889$ 6,183$ 6,493$ 6,817$ 7,158$ 7,516$ 7/7/2025 6522 Maintenance Painter F AND O PG-F&O 10 37.7176 $ 39.6034$ 41.5835$ 43.6628$ 45.8459$ 48.1383$ 6,538$ 6,865$ 7,208$ 7,568$ 7,947$ 8,344$ 7/7/2025 6434 Maintenance Sprinkler Fitter F AND O 6434 10 39.5484 $ 41.5769$ 43.6020$ 45.7823$ 48.0715$ 50.4751$ 6,855$ 7,207$ 7,558$ 7,936$ 8,332$ 8,749$ 7/7/2025 6115 Maintenance Team Leader F AND O 6115 10 39.5484 $ 41.5769$ 43.6020$ 45.7823$ 48.0715$ 50.4751$ 6,855$ 7,207$ 7,558$ 7,936$ 8,332$ 8,749$ 7/7/2025 6426 Maintenance Utility Mechanic F AND O PG-F&O 10 37.7176 $ 39.6034$ 41.5835$ 43.6628$ 45.8459$ 48.1383$ 6,538$ 6,865$ 7,208$ 7,568$ 7,947$ 8,344$ 7/7/2025 6714 Maintenance Worker I F AND O 6714 5 27.4389 $ 28.8111$ 30.2515$ 31.7643$ 33.3525$ 35.0202$ 4,756$ 4,994$ 5,244$ 5,506$ 5,781$ 6,070$ 7/7/2025 6712 Maintenance Worker II F AND O 6712 7 31.6065 $ 33.1867$ 34.8464$ 36.5888$ 38.4180$ 40.3390$ 5,478$ 5,752$ 6,040$ 6,342$ 6,659$ 6,992$ 7/7/2025 6168 Parks Lead Worker F AND O 6168 9 36.6080 $ 38.4384$ 40.3603$ 42.3783$ 44.4976$ 46.7220$ 6,345$ 6,663$ 6,996$ 7,346$ 7,713$ 8,098$ 7/7/2025 4352 Police Dispatcher I F AND O 4352 7 37.5146 $ 39.3905$ 41.3601$ 43.4280$ 45.5995$ 47.8795$ 6,503$ 6,828$ 7,169$ 7,528$ 7,904$ 8,299$ 7/7/2025 4353 Police Dispatcher II F AND O 4353 9 45.5420 $ 47.8193$ 50.2104$ 52.7207$ 55.3570$ 58.1251$ 7,894$ 8,289$ 8,703$ 9,138$ 9,595$ 10,075 $ 7/7/2025 6114 Public Works Lead Worker F AND O 6114 9 36.6080 $ 38.4384$ 40.3603$ 42.3783$ 44.4976$ 46.7220$ 6,345$ 6,663$ 6,996$ 7,346$ 7,713$ 8,098$ 7/7/2025 6113 PW Lead Worker-Infra Maint. F AND O 6113 9 36.6080 $ 38.4384$ 40.3603$ 42.3783$ 44.4976$ 46.7220$ 6,345$ 6,663$ 6,996$ 7,346$ 7,713$ 8,098$ 7/7/2025 6709 Recreation Utility Worker F AND O 6709 7 31.6065 $ 33.1867$ 34.8464$ 36.5888$ 38.4180$ 40.3390$ 5,478$ 5,752$ 6,040$ 6,342$ 6,659$ 6,992$ 7/7/2025 6130 Senior Equipment Mechanic F AND O PG-F&O 11 40.7932 $ 42.8330$ 44.9746$ 47.2235$ 49.5846$ 52.0642$ 7,071$ 7,424$ 7,796$ 8,185$ 8,595$ 9,024$ 7/7/2025 6120 Senior Maintenance Team Ld. F AND O 6120 11 42.7736 $ 44.9123$ 47.1578$ 49.5159$ 51.9916$ 54.5914$ 7,414$ 7,785$ 8,174$ 8,583$ 9,012$ 9,463$ 7/7/2025 6510 Senior Traffic Signal Tech F AND O 6510 11 46.4995 $ 48.8246$ 51.2658$ 53.8294$ 56.5208$ 59.3469$ 8,060$ 8,463$ 8,886$ 9,330$ 9,797$ 10,287 $ 7/7/2025 6324 Sweeper Operator F AND O PG-F&O 8 32.4017 $ 34.0219$ 35.7229$ 37.5091$ 39.3845$ 41.3540$ 5,616$ 5,897$ 6,192$ 6,502$ 6,827$ 7,168$ 7/7/2025 6511 Traffic Signal Technician F AND O 6511 10 42.9966 $ 45.1466$ 47.4041$ 49.7743$ 52.2632$ 54.8760$ 7,453$ 7,825$ 8,217$ 8,628$ 9,059$ 9,512$ 7/7/2025 6509 Traffic Signal Trainee F AND O PG-F&O 9 34.9132 $ 36.6587$ 38.4918$ 40.4163$ 42.4373$ 44.5588$ 6,052$ 6,354$ 6,672$ 7,005$ 7,356$ 7,724$ 7/7/2025 6166 Tree Lead Worker F AND O 6166 9 36.6080 $ 38.4384$ 40.3603$ 42.3783$ 44.4976$ 46.7220$ 6,345$ 6,663$ 6,996$ 7,346$ 7,713$ 8,098$ 7/7/2025 Class Title Changed to job code 2322 (7.9.25) and 2324 (10.31.25), Pay rate of Camp Director (12.22.2025); minimum wage change (1.1.2026)
City of Concord Salary Schedule
Job Code Classification Title Unit Schedule Grade Step 1 Hourly
Step 2
Hourly
Step 3
Hourly
Step 4
Hourly
Step 5
Hourly
Step 6
Hourly
Step 1
Mthly.
Step 2
Mthly.
Step 3
Mthly.
Step 4
Mthly.
Step 5
Mthly.
Step 6
Mthly. Effective
6615 Tree Trimmer F AND O 6615 8 33.9749 $ 35.6735$ 37.4571$ 39.3300$ 41.2965$ 43.3614$ 5,889$ 6,183$ 6,493$ 6,817$ 7,158$ 7,516$ 7/7/2025 0910 Ltd Ser-Admin Support Limited Ser 0910 16.9000$ 28.0500$ 1/1/2026 0920 Ltd Ser-Camp Specialist Limited Ser 0920 16.9000$ 151.5500$ 1/1/2026 0930 Ltd Ser-Craft Worker Limited Ser 0930 16.9000$ 44.8400$ 1/1/2026 0940 Ltd Ser-Maint. Laborer Limited Ser 0940 16.9000$ 28.0500$ 1/1/2026 0950 Ltd Ser-Professional Limited Ser 0950 16.9000$ 161.8700$ 1/1/2026 0960 Ltd Ser-Public Safety Asst Limited Ser 0960 16.9000$ 44.8400$ 1/1/2026 0970 Ltd Ser-Recreation Specialist Limited Ser 0970 16.9000$ 38.6700$ 1/1/2026 0971 Ltd Ser-Seasonal Limited Ser 0971 16.9000$ 38.6700$ 1/1/2026 0980 Ltd Ser-Technician Limited Ser 0980 16.9000$ 38.6700$ 1/1/2026 2307 Administrative Analyst MGMT MANAGER M-4 50.7956 $ 69.8401$ 8,805$ 12,106$ 7/7/2025 2315 Administrative Svcs Manager MGMT MANAGER M-7 65.3628 $ 89.8691$ 11,330$ 15,577$ 7/7/2025 1707 Assistant City Attorney MGMT MANAGER M10 83.0398 $ 114.1732$ 14,394$ 19,790$ 7/7/2025 2140 Assistant City Engineer MGMT MANAGER M-8 71.0495 $ 97.6879$ 12,315$ 16,933$ 7/7/2025 2342 Budget Analyst MGMT MANAGER M-5 55.2698 $ 75.9920$ 9,580$ 13,172$ 7/7/2025 2324 Budget & Treasury Officer MGMT MANAGER M-8 71.0495 $ 97.6879$ 12,315$ 16,933$ 10/31/2025 2130 Chief Building Official MGMT MANAGER M-9 77.2782 $ 106.2516$ 13,395$ 18,417$ 7/7/2025 1321 City Clerk MGMT MANAGER M-7 65.3628 $ 89.8691$ 11,330$ 15,577$ 7/7/2025 2120 City Engineer MGMT MANAGERCE M-9 80.3692 $ 110.5016$ 13,931$ 19,154$ 7/7/2025 2340 Communications Center Manager MGMT MANAGER M-5 55.2698 $ 75.9920$ 9,580$ 13,172$ 7/7/2025 2334 Community Relations Manager MGMT MANAGER M-5 55.2698 $ 75.9920$ 9,580$ 13,172$ 7/7/2025 2133 Community Reuse Area Planner MGMT MANAGER M-8 71.0495 $ 97.6879$ 12,315$ 16,933$ 7/7/2025 2322 Controller MGMT MANAGER M-8 71.0495 $ 97.6879$ 12,315$ 16,933$ 7/9/2025 2345 Crime Scene Investigations Mgr MGMT MANAGER M-5 55.2698 $ 75.9920$ 9,580$ 13,172$ 7/7/2025 2309 Deputy City Attorney MGMT MANAGER M-7 65.3628 $ 89.8691$ 11,330$ 15,577$ 7/7/2025 3759 Deputy City Clerk MGMT MANAGER M-5 55.2698 $ 75.9920$ 9,580$ 13,172$ 7/7/2025 1714 Deputy City Manager MGMT MANAGER M11 90.3141 $ 124.1432$ 15,654$ 21,518$ 7/7/2025 1715 Deputy Dir. of Public Works MGMT MANAGERPW M-9 81.1421 $ 111.5639$ 14,065$ 19,338$ 7/7/2025 2134 Economic Dev. Manager MGMT MANAGER M-6 60.0775 $ 82.6021$ 10,413$ 14,318$ 7/7/2025 2353 Employee Services Manager MGMT MANAGER M-8 71.0495 $ 97.6879$ 12,315$ 16,933$ 7/7/2025 2725 Facilities Maint Prog. Mgr. MGMT MANAGER M-6 60.0775 $ 82.6021$ 10,413$ 14,318$ 7/7/2025 2721 Facilities Maint. Supervisor MGMT MANAGER M-4 50.7956 $ 69.8401$ 8,805$ 12,106$ 7/7/2025 2710 Facilities Maintenance Manager MGMT MANAGER M-8 71.0495 $ 97.6879$ 12,315$ 16,933$ 7/7/2025 2326 Financial Analyst MGMT MANAGER M-5 55.2698 $ 75.9920$ 9,580$ 13,172$ 7/7/2025 2362 Fleet Manager MGMT MANAGER M-7 65.3628 $ 89.8691$ 11,330$ 15,577$ 7/7/2025 2760 Horticultural Advisor MGMT MANAGER M-4 50.7956 $ 69.8401$ 8,805$ 12,106$ 7/7/2025 2377 Housing & Community Services Manager MGMT MANAGER M-5 55.2698 $ 75.9920$ 9,580$ 13,172$ 7/7/2025 2312 Housing Manager MGMT MANAGER M-7 65.3628 $ 89.8691$ 11,330$ 15,577$ 7/7/2025 2357 Human Resources Analyst I MGMT MANAGER M-2 42.9383 $ 59.0366$ 7,443$ 10,233$ 7/7/2025 Class Title Changed to job code 2322 (7.9.25) and 2324 (10.31.25), Pay rate of Camp Director (12.22.2025); minimum wage change (1.1.2026)