Agenda Item 5.10
DATE: December 19, 2023
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SUBJECT: Acceptance of Work – Dublin Boulevard Pavement Rehabilitation Project, CIP No. ST0117 and ST0120, Federal Aid No. STPL-5432 (021)
Prepared by: Michael Boitnott, Capital Improvement Program Manager EXECUTIVE SUMMARY:
The City Council will consider the acceptance of the Dublin Boulevard Pavement Rehabilitation Project, CIP No. ST0117 and ST0120, Federal Aid No. STPL-5432 (021). The project included failed asphalt concrete pavement repairs, asphalt concrete overlay, pavement delineation, vehicular traffic signal video detection, and other roadway improvements on Dublin Boulevard between Scarlett Drive and Hacienda Drive.
STAFF RECOMMENDATION:
Adopt the Resolution Accepting the Dublin Boulevard Pavement Rehabilitation Project, CIP No.
ST0117 and ST0120, Federal Aid No. STPL-5432 (021).
FINANCIAL IMPACT:
The Dublin Boulevard Pavement Rehabilitation Project, CIP No. ST0117 and ST0120, Federal Aid No. STPL-5432 (021), is complete and the project funding and costs were as follows:
Project Funding Source
Federal Transportation Grant (ST0120) $661,000
Measure B Sales Tax-Local Streets Fund (ST0120) $76,000 Road Maint. & Rehab. Account (ST0117) $1,243,284
Gas Tax (ST0117) $1,052,716
Measure B Sales Tax-Local Streets Fund (ST0117) 300,000 Measure BB Sales Tax-Local Streets Fund (ST0117) 750,000 Total Funding $4,083,000
167
Estimated Expenditures
Construction Contract with Change Orders $3,166,599
Owner-Furnished Traffic Signal Equipment $136,159
Contract Services, Design, Salary, and Testing $780,242 Total Expenditures $4,083,000
DESCRIPTION:
On June 21, 2022, the City Council awarded a contract for the Dublin Boulevard Pavement Rehabilitation Project CIP No. ST0117 and ST0120, Federal Aid No. STPL-5432 (021) to Ghilotti Bros., Inc. for $3,125,980. During construction, change orders were issued which resulted in the final construction contract amount of $3,166,599.
The project provided for the pavement rehabilitation of Dublin Boulevard between Scarlett Drive and Hacienda Drive, including the removal and replacement of existing failed pavement, resurfacing with new asphalt concrete, and installation of new pavement striping. The project also included the installation of new curb ramps or upgrade of existing curb ramps to comply with Americans with Disabilities Act standards, adjusting the finish grade of the roadway at the intersection of Dublin Boulevard and Hacienda Drive to improve rideability, provision of decorative crosswalks, modifications to traffic signal detection systems, and adjustment of utilities to finish grade.
Staff has determined that the project is complete and recommends that the City Council accept the project. Upon the City Council’s acceptance, Staff and consultants will close out the project, including filing necessary paperwork for $661,000 of federal funds anticipated from the Metropolitan Transportation Commission One Bay Area Grant Local Streets and Roads (OBAG- LSR) program.
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
A copy of this report was sent to Ghilotti Bros., Inc., Caltrans Local Assistance District Engineer and Alameda County Transportation Commission’s Independent Watchdog Committee, and the City Council Agenda was posted.
ATTACHMENTS:
1) Resolution Accepting the Dublin Boulevard Pavement Rehabilitation Project, CIP No. ST0117 and ST0120, Federal Aid No. STPL-5432 (021)
2) CIP No. ST0117 and ST0120
168
Attachment 1
Reso. No. XX-23, Item X.X, Adopted 12/19/2023 Page 1 of 1 RESOLUTION NO. XX – 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ACCEPTING THE DUBLIN BOULEVARD PAVEMENT REHABILITATION PROJECT, CIP NO. ST0117 AND ST0120, FEDERAL AID NO. STPL-5432 (021)
WHEREAS, on June 21, 2022, the City entered into a contract with Ghilotti Bros., Inc. to perform Project No. ST0117 and ST0120, Federal Aid No. STPL-5432 (021), the Dublin Boulevard Pavement Rehabilitation Project; and
WHEREAS, said improvements have been completed in accordance with plans and specifications, and any approved modifications thereof, to the satisfaction of the City Engineer of the City of Dublin; and
WHEREAS, as a condition of the contract, Ghilotti Bros., Inc. is required to warranty the improvements for a period of one year following the completion of the work and maintain a maintenance bond in the amount of 10% of the final contract value.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby accept the Dublin Boulevard Pavement Rehabilitation Project, Project No. ST0117 and ST0120, Federal Aid No. STPL-5432 (021).
BE IT FURTHER RESOLVED that the City Council of the City of Dublin does hereby authorize the City Manager, or designee, to release the maintenance bond at the end of the one- year warranty period.
PASSED, APPROVED AND ADOPTED this 19th day of December 2023, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
169
Number ST0117 Program STREETS
PRIOR
YEARS
2022-2023
BUDGET 2023-2024 2024-2025 2025-2026 2026-2027
FUTURE
YEARS TOTALS
9100 $142,884 $48,991 $35,360 $35,360 $35,360 $35,360 $333,315 9200 $1,484,397 $684,947 $340,000 $340,000 $360,000 $360,000 $ 3,569,344 9400 $7,796,520 $3,023,727 $1,917,401 $1,917,401 $2,170,601 $ 2,170,601 $18,996,251 9500 $9,022 $40,169 $7,120 $7,120 $8,000 $8,000 $79,431 $9,432,823 $3,797,834 $2,299,881 $2,299,881 $2,573,961 $ 2,573,961 $22,978,341 PRIOR
YEARS
2022-2023
BUDGET 2023-2024 2024-2025 2025-2026 2026-2027
FUTURE
YEARS TOTALS
1001 $467,999 $467,999
2201 $3,456,188 $1,232,833 $600,920 $725,920 $800,000 $800,00 0 $7,615,861 2204 $1,484,999 $300,000 $1,784,999
2205 $300,000 $300,000
2214 $1,806,020 $450,000 $575,000 $450,000 $650,000 $650,000 $ 4,581,020 Measure BB Sales Tax - Local
Streets Fund
Measure B Sales Tax - Bike &
Pedestrian Fund
General Fund
ANNUAL STREET RESURFACING
ESTIMATED COSTS
Measure B Sales Tax - Local Streets
Fund
Salaries & Benefits FUNDING SOURCE
Contract Services
Improvements
Miscellaneous
TOTAL
State Gas Tax
2022-2027 CAPITAL IMPROVEMENT PROGRAM
PROJECT DESCRIPTION
This project provides for the design and construction of a variety of pavement resurfacing treatments, from slurry seal to major rehabilitation and reconstruction of streets and resurfacing of bridge decks. The project also includes installation of new or upgrades of existing ADA curb ramps on roads that are reconstructed or receive an asphalt concrete overlay. Streets are selected for improvements based on the City's Pavement Management System to optimize the pavement condition in relation to available budget. The City owns and maintains approximately 148 centerline miles of streets.
The Metropolitan Transportation Commission groups Pavement Condition Index (PCI) ratings into the following categories: 80-100 Very Good-Excellent; 70-79 Good, 60-69 Fair, 50-59 At Risk, 25-49 Poor, and 0-24 Failed. The City of Dublin is rated very good with a three-year moving average PCI of 82.
This annual Resurfacing Program is primarily funded by Alameda County Transportation Commission Measure B/BB funds, SB-1, and Gas Tax. This program protects the substantial investment the City has in the public street system.
ANNUAL OPERATING IMPACT : None
MANAGING DEPARTMENT : Public Works
Attachment 2
170
PRIOR
YEARS
2022-2023
BUDGET 2023-2024 2024-2025 2025-2026 2026-2027
FUTURE
YEARS TOTALS FUNDING SOURCE
2215 $304,500 $304,500
2216 $82,500 $82,500
2220 $1,374,977 $1,764,661 $1,123,961 $1,123,961 $1,123,961 $ 1,123,961 $7,635,482 2304 $155,640 $4,360 $160,000
4309 $45,980 $45,980
$9,432,823 $3,797,834 $2,299,881 $2,299,881 $2,573,961 $ 2,573,961 $22,978,341
ANNUAL OPERATING IMPACT
TOTAL
Road Maint. & Rehab. Account
(RMRA)
Mitigation Contributions
Measure BB Sales Tax - Bike &
Pedestrian Fund
Measure B Grants
Local Recycling Programs
171
Number ST0120 Program STREETS
PRIOR
YEARS
2022-2023
BUDGET 2023-2024 2024-2025 2025-2026 2026-2027
FUTURE
YEARS TOTALS
9400 $737,000 $737,000
$737,000 $737,000
PRIOR
YEARS
2022-2023
BUDGET 2023-2024 2024-2025 2025-2026 2026-2027
FUTURE
YEARS TOTALS
2202 $661,000 $661,000
2204 $76,000 $76,000
$737,000 $737,000
ANNUAL OPERATING IMPACT
DUBLIN BOULEVARD PAVEMENT REHABILITATION
TOTAL
ESTIMATED COSTS
FUNDING SOURCE
TOTAL
Federal Transportation
Grant
2022-2027 CAPITAL IMPROVEMENT PROGRAM
Measure B Sales Tax -
Local Streets Fund
Improvements
PROJECT DESCRIPTION
This project provides for pavement rehabilitation of Dublin Boulevard between Scarlett Drive and Hacienda Drive. Rehabilitation included removal and replacement of existing failed pavement, resurfacing with new asphalt concrete, and installation of new pavement striping. The project also included installation of new curb ramps or upgrade of existing curb ramps to comply with Americans with Disabilities Act (ADA) standards.
On April 4, 2017, the City Council authorized the filing of an application to the Metropolitan Transportation Commission (MTC) for federal funding through the One Bay Area Grant Local Streets and Roads (OBAG-LSR) program. In November 2017, MTC approved OBAG-LSR funding of $661,000 for the project. The OBAG-LSR funding requires 11.47% local funding, which is provided by Measure B Local Streets and Roads funds.
This project represents the OBAG-LSR funded portions on the improvements along Dublin Boulevard. The balance of the improvements will be constructed in conjunction with that year’s Annual Street Resurfacing Project, CIP No. ST0117. This project will protect the substantial investment the City has in the public street system. The project is anticipated to be completed in spring 2023.
ANNUAL OPERATING IMPACT: None
MANAGING DEPARTMENT: Public Works
172
STAFF REPORT
CITY COUNCIL
Agenda Item 5.11
DATE: December 19, 2023
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SUBJECT: Resolution Amending and Restating the Rules for the Conduct of Meetings of the City Council
Prepared by: Marsha Moore, MMC, City Clerk
EXECUTIVE SUMMARY:
At its October 13, 2023 Special Meeting, the City Council directed Staff to update the agenda format and order of business. The Rules of Conduct of Meetings of the City Council includes a section with the order of business for the City Council meeting agenda. The amended rules update the order of business to reflect the changes approved by the City Council.
STAFF RECOMMENDATION:
Adopt the Resolution Amending and Restating the Rules for the Conduct of Meetings of the City Council.
FINANCIAL IMPACT:
None.
DESCRIPTION:
At its October 13, 2023 Special Meeting, the City Council discussed the agenda format and directed Staff to make updates. Those updates are reflected in the following changes made to the Rules of Conduct:
Order of Business (Section 9)
The following changes were made: changed ‘Oral Communications’ to ‘Presentations and Proclamations,’ added ‘Public Comment,’ removed ‘Written Communications,’ and changed ‘Other Business’ to ‘City Manager and City Council Reports.’
173
Addressing the City Council (Section 13)
The current rules address public comment for items not on the agenda in 13.d. The language has been cleaned up to replace ‘Oral Communications’ with ‘Public Comment’ to match the changes made in Section 9.
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
The City Council Agenda was posted.
ATTACHMENTS:
1) Resolution Amending and Restating the Rules for the Conduct of Meetings of the City Council 2) Rules for the Conduct of Meetings of the City Council (redline version) 174
Attachment 1
Reso. No. xx-23, Item x.x, Adopted xx/xx/2023 Page 1 of 8 RESOLUTION NO. xx-23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AMENDING AND RESTATING THE RULES FOR THE CONDUCT OF
MEETINGS OF THE CITY COUNCIL
WHEREAS, from time to time the City Council amends and restates the Rules of Conduct of Meetings of the City Council, and the Rules were last restated by Resolution No. 130-21; and WHEREAS, the City Council wishes to amend and restate the Rules in order to change the Order of Business.
NOW, THEREFORE, BE IT RESOLVED that the Rules for the Conduct of Meetings of the City Council are amended to read as follows in their entirety:
1. REGULAR MEETINGS
a. Time Regular meetings of the City Council shall be held on the first and third Tuesday of each month at the hour of 7:00 p.m., except that Closed Session Items shall be held at 6:30 p.m. Whenever the day fixed for any regular meeting of the City Council falls upon a day designated as a holiday, such meeting will be held at the same hour on the next succeeding day not a holiday.
b. Place All regular meetings of the City Council shall be held at the Civic Center, as designated by Ordinance.
c. Public All meetings of the City Council shall be open to the public; provided, however, the City Council may hold closed sessions as provided by the laws of the State of California.
2. SPECIAL MEETINGS
A special meeting may be ordered at any time by the Mayor whenever in his/her opinion the public business may require it or upon the written request of any three members of the City Council. Whenever a special meeting shall be called, written notice of such meeting shall be delivered personally or by any other means by the City Clerk to each member of the City Council and to each local newspaper of general circulation and radio/television station requesting notice in writing. Such notice must be delivered at least 24 hours before the time of such meeting as specified in the notice. The notice shall specify the time and place of the special meeting and the business to be transacted or discussed. No other business shall be considered at such meetings by the City Council.
The agenda for special meetings shall contain the information set forth in Section 3.a. - f. below. At least 24 hours before each special meeting, the City Clerk shall post a copy of the agenda, including the call and notice of the special meeting at the same location identified in Section 3 below.
175
Reso. No. XXX-23, Item X.X, Adopted xx/xx/2023 Page 2 of 8
3. AGENDA
The City Clerk shall, in consultation with the City Manager, arrange an agenda of matters according to the order of business and furnish each member of the City Council, the City Manager, City Attorney, and City Department Heads with a copy of the agenda packet prior to the City Council meeting at least 72 hours in advance of a regular meeting, and 24 hours in advance of a special meeting, as time for preparation will permit.
The agenda prepared by the City Clerk shall, at a minimum, include:
a. The date of the meeting
b. The time of the meeting
c. The location of the meeting
d. A brief general description of each item of business to be transacted or discussed at the meeting
e. Specified period of time for members of the public to address the City Council on items of interest to the public that are within the jurisdiction of the City Council, including a statement that no person may speak longer than three minutes, and including language that the City Council can only briefly respond with questions, refer to Staff, or place on a future agenda. f. A specified section under which City Councilmembers and Staff may present informational only reports.
At least 72 hours before each regular meeting, the City Clerk shall post a copy of the agenda in the Kiosk in front of the Civic Center located at 100 Civic Plaza, Dublin, California.
The City Clerk shall execute a declaration of posting which shall be filed in the Office of the City Clerk.
The City Clerk shall so mark or denote “Consent Calendar” items on the agenda to identify those items on the agenda which can reasonably be expected to generate no discussion by members of the City Council, City Staff or interested persons in the audience. The City Council shall consider all of the items on the Consent Calendar portion of the agenda at one time by a vote after a motion has been duly made and seconded. If any member of the City Council, City Staff or interested person in the audience requests that a consent item be removed from the list, such item shall be taken up for consideration and disposition in the order listed on the agenda.
4. PRESIDING OFFICER
The Mayor shall preside at all City Council meetings and perform such other duties consistent with his/her office as may be imposed by the City Council. The Mayor shall be entitled to vote, but shall possess no veto power. The Mayor shall be recognized as the official head of the City for all ceremonial purposes.
The Mayor shall preserve strict order and decorum at all regular and special meetings of the City Council. The Mayor shall state every question coming before the City Council, call for the vote, announce the decision of the City Council on all subjects and decide all questions of order, subject however, to an appeal of the City Council, in which event a 176
Reso. No. XXX-23, Item X.X, Adopted xx/xx/2023 Page 3 of 8 majority vote of the City Council shall govern and conclusively determine such question of order. The Mayor shall sign all Ordinances adopted by the City Council during his/her presence. In the event of the absence of the Mayor, the Mayor Pro Tempore shall sign Ordinances and Resolutions as then adopted.
5. CALL TO ORDER
The Mayor, or in his/her absence, the Mayor Pro Tempore, shall take the chair precisely at the hour appointed for the meeting, and shall immediately call the City Council to order. In the absence of the Mayor or Mayor Pro Tempore, the City Clerk shall call the City Council to order, whereupon a temporary chair shall be elected by the members of the City Council present. Upon the arrival of the Mayor or Mayor Pro Tempore, the temporary chair shall immediately relinquish the chair upon the conclusion of the business immediately before the City Council.
6. ATTENDANCE
Before proceeding with the business of the City Council, the City Clerk shall enter into the minutes, the names of the members present or absent. No formal roll call need be taken.
7. QUORUM
A majority of the members of the City Council shall constitute a quorum for the transaction of business, but a lesser number than a quorum may adjourn from time to time. The City Council may adjourn any regular, adjourned regular, special or adjourned special meeting to a time and place specified in the order of adjournment. If all members are absent from any regular or adjourned regular meeting, the City Clerk may declare the meeting adjourned to a stated time and place. If the City Clerk does, the City Clerk shall cause written notice of the adjournment to be given in the same manner as provided for special meetings. A copy of the order or notice of adjournment shall be posted in the Civic Center Kiosk and other places designated by the City Council within 24 hours after the time of adjournment. Whenever a regular or adjourned regular meeting is adjourned as provided in this section, the resulting adjourned regular meeting is a regular meeting for all purposes.
When an order of adjournment of any meeting fails to state the hour at which the adjournment meeting shall be held, it shall be held at the hour specified for regular meetings.
8. REMOTE ATTENDANCE
In rare cases and exceptional circumstances, the City Council permits remote attendance by City Councilmembers at regular and special City Council meetings. Only two Councilmembers are permitted to attend remotely per meeting. The first two Councilmembers who notify the City Clerk of his or her intention to do so will be permitted to attend remotely. Video and audio remote attendance are permitted, video is preferred.
9. ORDER OF BUSINESS
Promptly at the hour set on the day of each regular meeting, the members of the City Council, City Clerk (or Designee) and City Manager (or Designee) shall take their regular stations in the City Council Chambers and the business of the City Council shall be taken 177
Reso. No. XXX-23, Item X.X, Adopted xx/xx/2023 Page 4 of 8 up for consideration and disposition in the following order except that, with the unanimous consent of the City Council, matters may be taken up out of order:
• Call to Order (Closed Session)
• Call to Order & Pledge of Allegiance to the Flag
• Report on Closed Session Action
• Presentations and Proclamations
• Public Comment
• Consent Calendar
• Public Hearings
• Unfinished Business
• New Business
• City Manager and City Council Reports (City Council/Staff Informational Only Reports/Matters Too Late for the Agenda)
• Adjournment
10. MATTERS TOO LATE FOR THE AGENDA
a. No action or discussion shall take place on any item not appearing on the agenda for a regular meeting as posted, unless one of the three items below, occurs:
(1) The City Council determines by majority vote that an emergency situation exists, as defined in Government Code Section 54956.5; or (2) The City Council determines by vote of two-thirds of the members present (i.e. four votes if five members are present and three votes if four members are present), or by a unanimous vote of the members of the City Council if only three members are present, that there is a need to take immediate action and that the need for action came to the City Council's attention after the agenda was posted; or (3) The item was included in a posted agenda for a prior meeting held not more than five calendar days prior to the meeting at which the item is acted upon and at the prior meeting the item was continued to the meeting at which the action is being taken. b. When an item not on the agenda is raised by a member of the public, the City Council may briefly respond, may ask questions for clarification, provide a reference to Staff or other resources, or request Staff to report back at a subsequent meeting.
Furthermore, a member of the City Council may request that the City Council, and the City Council may, direct staff to place a matter of business on a future agenda.
11. READING OF MINUTES
Unless the reading of the minutes of a City Council meeting is requested by a majority vote of the City Council, such minutes may be approved without reading if the City Clerk has previously furnished each member with a copy thereof.
12. RULES OF DEBATE
a. Presiding Officer may debate The Mayor or such other member of the City Council as may be presiding may move, second and debate from the chair, subject only to such limitations of debate as are by these rules imposed upon all members. He/she shall not be deprived of any of the rights and privileges of a City Councilmember by reason of his /her acting as the Presiding Officer.
178
Reso. No. XXX-23, Item X.X, Adopted xx/xx/2023 Page 5 of 8 b. Getting the floor Every member desiring to speak shall address the Mayor, and upon recognition by the Mayor, shall confine himself/herself to the question under debate.
c. Interruptions A member, once recognized, shall not be interrupted when speaking unless it be to call him/her to order, or as herein otherwise provided. If a member, while speaking, be called to order, he/she shall cease speaking until the question of order is determined, and if in order, he/she shall be permitted to proceed. d. Privilege of closing debate The City Councilmember moving the adoption of an Ordinance or Resolution shall have the privilege of closing the debate. e. Motion to reconsider A motion to reconsider any action taken by the City Council may be made at any time. Such a motion must be made by one of the prevailing side, but may be seconded by any member, and may be made at any time and have precedence over all other motions or while a member has the floor; it shall be debatable.
Nothing herein shall be construed to prevent any member of the City Council from making or remaking the same or other motion at a subsequent meeting of the City Council. f. Remarks of City Councilmember A City Councilmember may request, through the Mayor, the privilege of having an abstract of his /her statement on any subject under consideration by the City Council entered in the minutes. If the City Council consents thereto, such statement shall be entered in the minutes. g. Synopsis of Debate The City Clerk may be directed by the Mayor, with the consent of the City Council, to enter in the minutes a synopsis of the discussion of any question coming regularly before the City Council.
h. Rules of Order Except as otherwise provided in this Resolution, the current edition of “Rosenberg’s Rules of Order” shall govern the conduct of the meetings of the City Council.
13. ADDRESSING THE CITY COUNCIL
Any person desiring to address the City Council at a meeting shall first secure the permission of the Mayor to do so; provided, however, that under the following headings of business, members of the public shall have the right to address the City Council upon obtaining recognition by the Mayor.
a. Addressing the City Council in Writing Interested persons or their authorized representative may request to address the City Council by written communication on any matters concerning the City's business, or any matters over which the City Council has control. Such written communication shall be provided to the City Clerk. b. Public Comment on Agenda Items The City Council shall provide members of the public an opportunity to address the City Council before or during its consideration of the item. Although members of the public may submit comments in writing, the City Council is not required to read written comments into the record. Such written communications shall be provided to the City Clerk.
c. Public Comment – Items Not on the Agenda The City Council shall provide members of the public an opportunity during the “Public Comment” portion of the agenda to address the City Council on any item of interest to the public that is within the subject matter jurisdiction of the City Council. Although members of the public may submit comments in writing, the City Council is not required to read written comments into the record. Such written communications shall be provided to the City Clerk. 179
Reso. No. XXX-23, Item X.X, Adopted xx/xx/2023 Page 6 of 8
14. MANNER OF ADDRESSING CITY COUNCIL
City Council meetings are business meetings, and persons addressing the City Council are expected to conduct themselves accordingly. Each person addressing the City Council shall stand at the podium and should give, in an audible tone of voice for the record, his/her name and his/her address, although providing one’s name and address is not required.
Persons desiring to address the City Council shall submit a speaker slip, the purpose of which is to allow the Mayor to manage the meeting and the City Clerk to produce the minutes, although the person need not provide his or her name in order to speak. The City Council expects that remarks will be addressed to the City Council as a body and not to individuals or the public. No person, other than the City Council and the person having the floor, shall be permitted to enter into any discussion, either directly or through a member of the City Council, without the permission of the Mayor. No question shall be asked of a City Councilmember except through the Mayor.
On each agenda item, each member of the public shall be given a specified amount of time to address the City Council during the public comment period, and the time limits shall be reasonably and uniformly applied to all speakers, so far as is possible, with the exception of formal applicants for approvals from the City who will be allotted additional time. The time limit shall be three minutes for each speaker.
Any member of the public who wishes to speak shall submit a speaker slip prior to the conclusion of the oral staff report on the agenda item. The Mayor, Vice Mayor or a member of Staff will make a statement at the beginning of the meeting reminding the public of this policy.
15. VOTING
a. Members of the City Council shall vote by a “voice vote” on all Ordinances, Resolutions and other matters, unless a roll call vote is required by law or is requested by a City Councilmember. Silence shall be recorded as an affirmative vote. The Mayor shall announce the result of the vote. As required by Government Code section 54953(c)(2), the City Clerk shall record in the minutes the vote or abstention of each City Councilmember present for the action.
b. The vote on any matter being considered by the City Council may be delayed by the Mayor until all members of the City Council present for a meeting, and not excused as herein provided, are present at the City Council dais. c. A member of the City Council who has a conflict of interest regarding any matter being considered by the City Council shall declare the conflict and excuse himself/herself from participating in the City Council's deliberations and decisions regarding that matter.
16. ORDER AND DECORUM
a. By City Councilmembers While the City Council is in session, the members must preserve order and decorum, and a member shall neither by conversation or otherwise, delay or interrupt the proceedings or the peace of the City Council nor disturb any member while speaking or refuse to obey the orders of the City Council or Mayor, except as otherwise herein provided.
180
Reso. No. XXX-23, Item X.X, Adopted xx/xx/2023 Page 7 of 8 b. By Persons Any person making remarks or engaging in conduct which actually disrupts, disturbs, or impedes the proceedings or the peace of the City Council or disturbs any member while speaking or refuses to obey the orders of the City Council or the Mayor shall be forthwith, by the Mayor, barred from further audience before the City Council, unless permission to continue is granted by a majority vote of the City Council. In order to maintain the appropriate level of civility in the City Council’s business meetings, persons are expected to refrain from making personal, impertinent, or slanderous remarks and from becoming boisterous.
c. Enforcement of Order and Decorum A law enforcement officer shall be designated as Sergeant-at-Arms of the City Council meetings when requested by the Mayor. He/she shall carry out all orders and instructions given at the City Council meeting.
Upon instruction of the Mayor, it shall be the duty of the Sergeant-at-Arms to remove and bar such person from the City Council meeting who violates the order and decorum of the meeting. Violation of the order and decorum of a City Council meeting is a misdemeanor. d. Smoking Smoking is prohibited at all times in all City-owned facilities.
17. PROHIBITION ON POLITICAL ACTIVITIES
Members of the City Council shall not engage in political activities related to local, state, or federal elections during Council meetings. For the purposes of this section, the term “political activity” shall mean an activity directed toward the success or failure of a political party, a candidate for elected office, a ballot measure, or a political group. Nothing in this section shall prevent the City Council from considering whether or not to support or oppose a ballot measure or state or federal legislation.
18. SPECIAL COMMITTEES/TASK FORCES
All special committees/task forces shall be appointed by the Mayor, subject to approval of the City Council.
19. CITY COUNCILMEMBER VACANCIES
When a vacancy occurs on the City Council, in the office of City Councilmember or Mayor, and the City Council determines to consider filling the vacancy by appointment, the City Council will make such appointment only at a meeting at which all remaining City Councilmembers (including the Mayor) are present. This rule shall not preclude the City Council from calling a special election to fill the vacancy or from adopting an ordinance to fill the vacancy pursuant to Government Code Section 36512 at a meeting at which one of the remaining City Councilmembers (including the Mayor) is absent.
20. PROTESTS
Any City Councilmember shall have the right to have the reasons for his/her dissent from, or protest against, any action of the City Council entered in the minutes.
21. ADJOURNMENT
A motion to adjourn shall always be in order and decided without debate. 181
Reso. No. XXX-23, Item X.X, Adopted xx/xx/2023 Page 8 of 8
22. RULES AVAILABLE FOR PUBLIC REVIEW
A copy of these Rules shall be available at all meetings of the City Council for review by the public.
PASSED, APPROVED AND ADOPTED this 19th day of December 2023, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
___________________________
Mayor
ATTEST:
___________________________
City Clerk
182
Attachment 2
Reso. No. 130-21xx-23, Item x.x 4.10, Adopted 11/16/2021xx/xx/2023 Page 1 of 8 RESOLUTION NO. xx-23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
AMENDING AND RESTATING THE RULES FOR THE CONDUCT OF
MEETINGS OF THE CITY COUNCIL
WHEREAS , from time to time the City Council amends and restates the Rules of Conduct of Meetings of the City Council, and the Rules were last restated by Resolution No. 62-17130-21; and
WHEREAS, the City Council wishes to amend and restate the Rules in order to to specify the remote attendance participation, change the ru les of order to Rosenber g’s Rules of Order, and specify the reading of the minut es and addressing the City Council change the Order of Business..
NOW, THEREFORE, BE IT RESOLVED that the Rules for the Conduct of Meetings of the City Council are amended to read as follows in their entirety:
1. REGULAR MEETINGS
a. Time Regular meetings of the City Council shall be held on the first and third Tuesday of each month at the hour of 7:00 p.m., except t hat Closed Session Items shall be held at 6:30 p.m. Whenever t he day fixed for any regular meeting of the City Council falls upon a day designated as a holiday, such meeting will be held at the same hour on the next succeeding day not a holiday.
b. Place All regular meetings of the Cit y Council shall be held at the Civic Center, as designated by Ordinance.
c. Public All meetings of the City Council shall be open to the public; provided, however, the City Council may hold closed sessions as provided by the laws of the State of California.
2. SPECIAL MEETINGS
A special meeting may be ordered at any time by the Mayor whenever in his/her opinion the public business may require it or upon the written request of any three members of the City Council. Whenever a special meeting shall be called, wri tten notice of such meeting shall be delivered personally or by any other means by the City Clerk to each member of the City Council and to each local newspaper of general circulation and radio/television station requesting notice in writing. Such notice must be delivered at least 24 hours before the time of such meeting as specified in t he notice. The notice sha ll specify the time and place of the special meeting and the business to be tr ansacted or discussed. No other business shall be considered at such meetings by the City Council.
The agenda for special meetings shall contain t he information set forth in Section 3.a. - f. below. At least 24 hours before each special meet ing, the City Clerk shall post a copy of 183
Reso. No. 130-21XXX-23, Item X.X4.10, Adopted 11/16/2021xx/xx/2023 Page 2 of 8 the agenda, including the call and notice of the special meet ing at the same location identified in Section 3 below.
3. AGENDA
The City Clerk shall, in consultation with the City Manager, arrange an agenda of matters according to the order of business and furnis h each member of the City Council, the City Manager, City Attorney, and City Department Heads with a copy of the agenda packet prior to the City Council meeting at least 72 hours in advance of a regular meeting, and 24 hours in advance of a special meeting, as time for preparation will permit.
The agenda prepared by the City Clerk shall, at a minimum, include:
a. The date of the meeting
b. The time of the meeting
c. The location of the meeting
d. A brief general description of each item of business to be transacted or discussed at the meeting
e. Specified period of time for members of the public to address the City Council on items of interest to the public that are within the jurisdiction of the City Council, including a statement that no person may speak longer than three minutes, and including language that the City Council can only briefly respond with questions, refer to Staff, or place on a future agenda. f. A specified section under which City Councilmembers and Staff may present informational only reports.
At least 72 hours before each regul ar meeting, the City Clerk shall post a copy of the agenda in the Kiosk in front of the Civic Cent er located at 100 Civic Plaza, Dublin, California.
The City Clerk shall execute a declaration of posting which shall be filed in the Office of the City Clerk.
The City Clerk shall so mark or denote “Consent Calendar” items on the agenda to identify those items on the agenda which can reasonabl y be expected to generate no discussion by members of the City Council, City Staff or interested persons in the audience. The City Council shall consider all of the items on the Consent Ca lendar portion of the agenda at one time by a vote after a motion has been duly made and seconded. If any member of the City Council, City Staff or interested person in the audience requests that a consent item be removed from the list, such item shall be taken up for consideration and disposition in the order listed on the agenda.
4. PRESIDING OFFICER
The Mayor shall preside at all City Coun cil meetings and perfo rm such other duties consistent with his/her office as may be im posed by the City Council. The Mayor shall be entitled to vote, but shall possess no veto power. The Mayor shall be recognized as the official head of the City for all ceremonial purposes.
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Reso. No. 130-21XXX-23, Item X.X4.10, Adopted 11/16/2021xx/xx/2023 Page 3 of 8 The Mayor shall preserve stri ct order and decorum at all r egular and special meetings of the City Council. The Mayor shall state every question coming before the City Council, call for the vote, announce the decision of the Cit y Council on all subjects and decide all questions of order, subject however, to an appeal of the City Council, in which event a majority vote of the City Council shall govern and conclusively determine such question of order. The Mayor shall sign all Ordinances adopted by the City Council during his/her presence. In the event of t he absence of the Mayor, the Mayor Pro Tempore shall sign Ordinances and Resolutions as then adopted.
5. CALL TO ORDER
The Mayor, or in his/her absence, the Mayor Pro Tempore, shall take the chair precisely at the hour appointed for the meeting, and shall immediately call the City Council to order. In the absence of the Mayor or Mayor Pro Tempore, the City Clerk shall call the City Council to order, whereupon a temporary chair shall be elected by the members of the City Council present. Upon the arrival of t he Mayor or Mayor Pro Tempore, the temporary chair shall immediately relinquish the chair upon the conc lusion of the business immediately before the City Council.
6. ATTENDANCE
Before proceeding with the business of the City Council, the City Clerk shall enter into the minutes, the names of the members present or absent. No formal roll call need be taken.
7. QUORUM
A majority of the members of the City Council shall constitute a quorum for the transaction of business, but a lesser number than a quorum may adjourn fr om time to time. The City Council may adjourn any regular, adjourned regular, special or adjourned special meeting to a time and place specified in the order of adjournment. If all members are absent from any regular or adjourned regul ar meeting, the City Clerk may declare the meeting adjourned to a stated time and place. If th e City Clerk does, the Cit y Clerk shall cause written notice of the adjournment to be given in the same manner as provided for special meetings. A copy of the order or notice of adjournment shall be posted in the Civic Center Kiosk and other places designat ed by the City Council within 24 hours after th e time of adjournment. Whenever a regular or adjourned r egular meeting is adjourned as provided in this section, the resulting adjourned regular meeting is a regular meeting for all purposes.
When an order of adjournment of any meeting fails to st ate the hour at which the adjournment meeting shall be held, it shall be held at t he hour specified for regular meetings.
8. REMOTE ATTENDANCE
In rare cases and exceptional circumstances, the City Council permits remote attendance by City Councilmembers at regular and s pecial City Council m eetings. Only two Councilmembers are permitted to attend re motely per meeti ng. The first two Councilmembers who notify the City Clerk of his or her intention to do so will be permitted to attend remotely. Video and audio remote attendance are permitted, video is preferred.
9. ORDER OF BUSINESS
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Promptly at the hour set on t he day of each regular meeti ng, the members of the City Council, City Clerk (or Designee) and City Manager (or Designee) shall take their regular stations in the City Council Chambers and the business of the City Council shall be taken up for consideration and disposition in the following order except that, with the unanimous consent of the City Council, matters may be taken up out of order:
• Call to Order (Closed Session)
• Call to Order & Pledge of Allegiance to the Flag
• Report on Closed Session Action
• Oral CommunicationsPresentations and Proclamations
• Public Comment
• Consent Calendar
• Written Communications
• Public Hearings
• Unfinished Business
• New Business
• Other Business City Manager and City Council Reports (City Council/Staff Informational Only Reports/Matters Too Late for the Agenda) • Adjournment
10. MATTERS TOO LATE FOR THE AGENDA
a. No action or discussion shall take place on any item not appearing on the agenda for a regular meeting as posted, unless one of the three items below, occurs:
(1) The City Council determines by majority vote that an emergency situation exists, as defined in Government Code Section 54956.5; or (2) The City Council determines by vote of two-thirds of the members present (i.e. four votes if five members ar e present and three votes if four members are present), or by a unanimous vote of the members of the City Council if only three members are present, that there is a need to take immediate action and that the need for action came to the City Council's attention after the agenda was posted; or (3) The item was included in a pos ted agenda for a prior meeting held not more than five calendar days prior to the meet ing at which the item is acted upon and at the prior meeting the item was continued to the meeting at which the action is being taken. b. When an item not on the agenda is raised by a member of the public, the City Council may briefly respond, may ask questions for clarification, provide a reference to Staff or other resources, or request Staf f to report back at a subsequent meeting.
Furthermore, a member of the City Council may request that the City Council, and the City Council may, direct staff to place a matter of business on a future agenda.
11. READING OF MINUTES
Unless the reading of the minutes of a City Council meeting is requested by a majority vote of the City Council, such minutes may be a pproved without reading if the City Clerk has previously furnished each member with a copy thereof.
12. RULES OF DEBATE
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Reso. No. 130-21XXX-23, Item X.X4.10, Adopted 11/16/2021xx/xx/2023 Page 5 of 8 a. Presiding Officer may debate The Mayo r or such other member of the City Council as may be presiding may move, second and debate from the chair, subject only to such limitations of debate as are by these rules imposed upon all members. He/she shall not be deprived of any of the rights and privileges of a City Co uncilmember by reason of his /her acting as the Presiding Officer.
b. Getting the floor Every member desir ing to speak shall address the Mayor, and upon recognition by the Mayor, shall confi ne himself/herself to the question under debate.
c. Interruptions A member, once rec ognized, shall not be interrupted when speaking unless it be to call him/her to order, or as herein otherwise provided. If a member, while speaking, be called to order, he/she shall cease speaking until the question of order is determined, and if in order, he/she shall be permitted to proceed. d. Privilege of closing de bate The City Councilmember moving the adoption of an Ordinance or Resolution shall have the privilege of closing the debate. e. Motion to reconsider A motion to re consider any action taken by the City Council may be made at any time. Such a mo tion must be made by one of the prevailing side, but may be seconded by any member, and may be made at any time and have precedence over all other motions or while a me mber has the floor; it shall be debatable.
Nothing herein shall be construed to prevent any member of the City Council from making or remaking the same or other motion at a subsequent meeting of the City Council. f. Remarks of City Councilmember A City Councilmember may request, through the Mayor, the privilege of having an abstract of his /her statement on any subject under consideration by the City Council entered in the minutes. If the City Council consents thereto, such statement shall be entered in the minutes. g. Synopsis of Debate The City Clerk may be directed by the Mayor, with the consent of the City Council, to enter in t he minutes a synopsis of the discussion of any question coming regularly before the City Council.
h. Rules of Order Except as otherwise prov ided in this Resolution, the current edition of “Rosenberg’s Rules of Order” shall govern the conduc t of the meetings of the City Council.
13. ADDRESSING TH E CITY COUNCIL
Any person desiring to address the City Council at a meeting shall first secure the permission of the Mayor to do so; provided, however, that under the following headings of business, members of the pub lic shall have the right to address the City Council upon obtaining recognition by the Mayor.
a. Addressing the City Council in Writing Interested persons or their authorized representative may request to address the City Council by written communication on any matters concerning the City's business, or any matters over which the City Council has control. Such written communication shall be provided to the City Clerk. b. Public Comment on Agenda Items The City Council shall provide members of the public an opportunity to address the Cit y Council before or dur ing its consideration of the item. Although members of the public may submit co mments in writing, the City Council is not required to read written co mments into the record. Such written communications shall be provided to the City Clerk.
c. Oral CommunicationsPublic Comment – Items Not on the Agenda The City Council shall provide members of th e public an opportunity during the “ Oral CommunicationsPublic Comment” portion of the agenda to address the City Council on 187
Reso. No. 130-21XXX-23, Item X.X4.10, Adopted 11/16/2021xx/xx/2023 Page 6 of 8 any item of interest to the public that is within the subject matter jurisdiction of the City Council. Although members of the public may submit comments in writing, the City Council is not required to read written comments into the record. Such written communications shall be provided to the City Clerk.
14. MANNER OF ADDR ESSING CITY COUNCIL
City Council meetings are business meetings, and persons addressing the City Council are expected to conduct themselves accordingly. Each person addressing the City Council shall stand at the podium and should give, in an audible tone of voice for the record, his/her name and his/her address, although providi ng one’s name and address is not required.
Persons desiring to address the City Council shal l submit a speaker slip, the purpose of which is to allow the Mayor to manage t he meeting and the City Clerk to produce the minutes, although the person need not provide his or her name in order to speak. The City Council expects that remarks will be address ed to the City Council as a body and not to individuals or the public. No person, other than the City Council and the person having the floor, shall be permitted to enter into any discu ssion, either directly or through a member of the City Council, wi thout the permission of the Mayor. No question shall be asked of a City Councilmember except through the Mayor.
On each agenda item, each member of the public shall be given a specified amount of time to address the City Council during the public comment period, and the time limits shall be reasonably and uniformly applied to all speakers, so far as is possible, with the exception of formal applicants for approval s from the City who will be al lotted additional time. The time limit shall be three minutes for each speaker.
Any member of the public w ho wishes to speak shall submit a speaker slip prior to the conclusion of the oral staff report on the agenda item. The Mayor, Vice Mayor or a member of Staff will make a statement at the beginning of the meeting reminding the public of this policy.
15. VOTING
a. Members of the City Council shall vo te by a “voice vote” on all Ordinances, Resolutions and other matters, unless a roll call vote is required by law or is requested by a City Councilmember. Silence shall be recor ded as an affirmative vote. The Mayor shall announce the result of the vote. As required by Government Code section 54953(c)(2), the City Clerk shall record in the minutes the vo te or abstention of each City Councilmember present for the action.
b. The vote on any matter being considered by the City Council may be delayed by the Mayor until all members of the City Council present for a meeting, and not excused as herein provided, are present at the City Council dais. c. A member of the City Council who has a conflict of interest regarding any matter being considered by the City Council shall declare the conflict and excuse himself/herself from participating in the City Council's deliberations and decisions regarding that matter.
16. ORDER AND DECORUM
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Reso. No. 130-21XXX-23, Item X.X4.10, Adopted 11/16/2021xx/xx/2023 Page 7 of 8 a. By City Councilmembers While the City Council is in session, the members must preserve order and decorum, and a mem ber shall neither by conversation or otherwise, delay or interrupt the proceedings or the peace of the City Council nor disturb any member while speaking or refuse to obey the orders of the Cit y Council or Mayor, except as otherwise herein provided.
b. By Persons Any person making remarks or engaging in conduct which actually disrupts, disturbs, or impedes the proceedings or the peace of the City Council or disturbs any member while s peaking or refuses to obey the orders of the City Council or the Mayor shall be forthwith, by the Mayor, barred from further audience before the City Council, unless permission to continue is granted by a majority vote of the City Council. In order to maintain the appropriate level of ci vility in the City Council’s business meetings, persons are expected to refrain from making personal, impertinent, or slanderous remarks and from becoming boisterous.
c. Enforcement of Order and Decorum A law enforcement officer shall be designated as Sergeant-at-Arms of the Cit y Council meetings when requested by the Mayor. He/she shall carry out all orders and instructions given at the City Council meeting.
Upon instruction of the Mayor, it shall be th e duty of the Sergeant-at-Arms to remove and bar such person from the City Council meeting who violates the order and decorum of the meeting. Violation of the order and decorum of a City Council meeting is a misdemeanor. d. Smoking Smoking is prohibited at all times in all City-owned facilities.
17. PROHIBITION ON POLITICAL ACTIVITIES
Members of the City Council shall not engage in political activities related to local, state, or federal elections during Council meetings. For the purposes of this section, the term “political activity” shall mean an activity directed toward the success or failure of a political party, a candidate for elected office, a ballot measure, or a political group. Nothing in this section shall prevent the City Council from considering whether or not to support or oppose a ballot measure or state or federal legislation.
18. SPECIAL COMMITT EES/TASK FORCES
All special committees/task forces shall be appointed by the Mayor, subject to approval of the City Council.
19. CITY COUNCILMEMBER VACANCIES
When a vacancy occurs on the City Council, in the office of City Councilmember or Mayor, and the City Council determines to consider filling the vacancy by appointment, the City Council will make such appointment only at a meeting at which all remaining City Councilmembers (including the Ma yor) are present. This rule shall not preclude the City Council from calling a special election to fill the vacancy or from adopting an ordinance to fill the vacancy pursuant to Government Code Section 36512 at a meeting at which one of the remaining City Councilmembers (including the Mayor) is absent.
20. PROTESTS
Any City Councilmember shall have the right to have the reasons for his/her dissent from, or protest against, any action of the City Council entered in the minutes.
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21. ADJOURNMENT
A motion to adjourn shall always be in order and decided without debate.
22. RULES AVAILABLE FOR PUBLIC REVIEW
A copy of these Rules shall be available at a ll meetings of the City Council for review by the public.
PASSED, APPROVED AND ADOPTED this 16
th 19th day of November 2021December
2023, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
__________ _________________
Mayor
ATTEST:
___________________________
City Clerk
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STAFF REPORT
CITY COUNCIL
Agenda Item 5.12
DATE: December 19, 2023
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SUBJECT: Annual Comprehensive Financial Report (ACFR) and Annual Audit for Fiscal Year Ending June 30, 2023 and Supplemental Reports Completed by the City’s Independent Auditors
Prepared by: Wendy Lam, Accounting Manager
EXECUTIVE SUMMARY:
The City Council will receive the Annual Comprehensive Financial Report (ACFR) for the Fiscal Year ending June 30, 2023. This report includes financial statements prepared by Staff along with the audit prepared by Badawi and Associates, the independent auditors selected by the City Council. The ACFR is a report which encompasses information beyond minimum financial reporting requirements. The auditors have provided a "clean opinion" based on their review.
The auditors have also completed the following supplemental reports: 1) a compliance audit of Alameda County Transportation Commission Measure B Funds; 2) a compliance audit of Alameda County Transportation Commission Measure BB Funds; 3) a compliance audit of Alameda County Transportation Commission Measure F Fund Vehicle Registration Fee Program; 4) a single audit report related to Federal Grant Expenditures; and 5) a review of the City's Annual Appropriations Limit Calculation.
The reports have been reviewed by the City Council Ad-Hoc Audit Subcommittee.
STAFF RECOMMENDATION:
Receive the reports.
FINANCIAL IMPACT:
Summarized financial information is discussed in this Staff Report, and Attachment 1 provides a guide to key information found in the ACFR. The full ACFR is included as Attachment 2. All other audit reports are included as Attachments 3-8.
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DESCRIPTION:
The City of Dublin has prepared its Annual Comprehensive Financial Report (ACFR) for the Fiscal Year (FY) ending June 30, 2023. The ACFR (Attachment 2) includes audited financial statements reviewed by Badawi and Associates, the independent auditors selected by the City Council.
Ad-Hoc Audit Committee Review
The auditors met with the City Council Ad-Hoc Audit Committee, composed of Mayor Hernandez and Councilmember Qaadri, to review the results of the audit. The interaction of the auditors directly with representatives of the elected body is a key component to audit standards and provides the Committee an opportunity to discuss the report and ask questions of the auditors.
Based on their testing and review, the auditors granted the City a "clean opinion" (see ACFR pages 1-4), meaning that the financial statements present fairly, in all material respects, the financial position of the City.
The compliance audits for the additional reports found that, based on the information reviewed and presented, expenditures were materially in compliance with the program requirements (Attachments 4 -7).
Financial Overview
Attachment 1 provides a guide to key elements contained in the ACFR. Some of the important financial results include an increase of $32.7 million in net position, as shown in Table 1 below.
This change is on an entity-wide basis and includes both capital assets as well as restricted funds.
Included in the Management Discussion and Analysis section of the ACFR is a discussion of the changes in Net Assets (ACFR page 6 and 7). It is important to note that the amount reported as Total Net Assets includes:
1. $545.1 million (59% of total net assets) in investments in capital assets (e.g. land, infrastructure, buildings, and equipment).
2. $115.5 million (13% of total net assets) that is subject to external restrictions on how it can be used, such as development impact fee funds.
3. $261.8 million (28% of total net assets) in net assets that are unrestricted. 192
TABLE 1: SUMMARY OF NET POSITION
June 30, 2023 and 2022
Auditors’ Communication (Governance Letter) (Attachment 3) The Governance Letter includes a report on the City’s accounting and reporting procedures, as well as recommendations for process improvements. The report includes the implementation of GASB Statement 96, Subscription-Based Information Technology Arrangements and the correction of prior year recognized leases receivable and related deferred inflow of resources, which resulted in the restatement of June 30, 2022 balances. These adjustments had no net impact on beginning fund balance or net position. Overall, the report does not note any issues for Fiscal Year 2022-23.
Designation of Fund Balances
The City's Fund Balance and Reserves Policy conforms to required standards enacted by the Governmental Accounting Standards Board (GASB). A listing of the Fiscal Year 2022-23 year-end major fund reserves established in accordance with this policy is shown on ACFR page 13. The following table summarizes the fund balances for all City funds:
June 30, 2022
June 30, 2023 (as restated) $ Change % Change
Item
Current and Other Assets 406,803,601$ 384,956,065$ 21,847,536$ 5.7% Notes Receivable (Note 5) 14,541,072 14,549,568 (8,496) -0.1% Leases Receivable (Note 6) 3,050,260 3,181,762 (131,502) 100.0% OPEB Asset (Note 13) 2,865,050 9,048,738 (6,183,688) -68.3% Capital Assets (Note 7) 568,081,126 556,079,985 12,001,141 2.2% Total Assets 995,341,109 967,816,118 27,524,991 2.8% Deferred Outflows of Resources 12,331,418 4,137,105 8,194,313 198.07% Current Liabilities 38,087,433 34,016,977 4,070,456 12.0% Noncurrent Liabilities 40,984,861 30,584,652 10,400,209 34.0% Total Liabilities 79,072,294 64,601,629 14,470,665 22.4% Deferred Inflows of Resources 6,199,022 17,633,393 (11,434,371) -64.8% Net Investment in Capital Assets 545,146,807 554,600,284 (9,453,477) -1.7% Restricted 115,479,147 118,161,236 (2,682,089) -2.3% Unrestricted 261,775,257 216,956,681 44,818,576 20.7% Total Net Position 922,401,211$ 889,718,201$ 32,683,010$ 3.7% Governmental Activities
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TABLE 2: GOVERNMENTAL FUND BALANCE CHANGES
June 30, 2023 and 2022
As shown above, General Fund Reserves totaled $249.7 million as of June 30, 2023. Of that amount, $58.4 million is available for cash flow purposes, equating to approximately 7.0 months of budgeted operating expenditures in Fiscal Year 2023-24. This exceeds the target as guided by the policy, which sets the cash flow goal at between two and four months of the next year's budget.
Additional Reports Prepared by Auditors
In addition to the audit of the financial statements, the audit engagement also included the completion of specialized reports. The five supplemental reports include:
1. A compliance audit of Alameda County Transportation Commission (ACTC) Measure B Funds
2. A compliance audit of the ACTC Measure BB Funds
3. A compliance audit of the ACTC Vehicle Registration Fee (Measure F) Program
4. A single audit report related to Federal Grant Expenditures
5. A review of the City's Annual Appropriations Limit Calculation ACTC Measure B Funds Report (Attachment 4)
ACTC provides local funding via two local programs: 1) Local Street Improvements; and 2) Bicycle and Pedestrian Improvements.
As of June 30, 2023, the Local Streets fund balance of $98,984 is assigned to a Capital Reserve for continued street improvement projects, and the Bike/Pedestrian fund balance of $68,179 is restricted to appropriate bike and pedestrian program improvements. During Fiscal Year 2022- 23, the following projects were funded by Measure B:
Annual Street Resurfacing
Iron Horse Trail Bridge
Dublin Boulevard Pavement Rehabilitation
Citywide Bicycle & Pedestrian Improvements
Citywide Signal Communication Upgrade
ACTC Measure BB Funds Report (Attachment 5)
Alameda County Measure BB was approved by the voters in November 2014 with 70% of the vote. The fee is expected to generate about $8 billion over 30 years funded by an additional half-cent sales tax to be used for transportation related expenditures. The program includes four June 30, 2023 June 30, 2022 $ Change % Change
General Fund 249,736,610$ 223,857,506$ 25,879,104$ 11.6% Affordable Housing Fund 30,243,024 29,913,316 329,708 1.1% Capital Improvement Funds 58,331,196 63,139,381 (4,808,185) -7.6% Other Governmental Funds 21,704,791 29,010,964 (7,306,173) -25.2% Total Governmental Funds 360,015,621$ 345,921,167$ 14,094,454$ 4.1% 194
categories of projects: 1) Transit; 2) Affordable Transit for Seniors and People with Disabilities; 3) Local Streets and Roads; and 4) Bicycle and Pedestrian Path and Safety.
As of June 30, 2023, the Measure BB Fund had a restricted fund balance of $1,368,977 for Local Streets and Roads, and $662,809 restricted for Bicycle and Pedestrian improvements. During Fiscal Year 2022-23, the following projects were funded by Measure BB:
Annual Street Resurfacing
Iron Horse Trail Bridge
Local Roadway Safety Plan
Citywide Bicycle and Pedestrian Improvements
Citywide Signal Communication Upgrade
Traffic Signal Re-Lamping
ACTC Vehicle Registration Fee (Measure F) Report (Attachment 6) The City of Dublin uses a Special Revenue Fund to account for money collected through the ACTC's Vehicle Registration Fee. The goal of the program is to sustain the County's transportation network through a distribution of the funds throughout the County on successive five-year cycles.
As of June 30, 2023, the ACTC VRF Measure F Fund had a balance of $289,211 in restricted funds.
During Fiscal Year 2022-23, the following projects were funded by Measure F:
Citywide Bicycle and Pedestrian Improvements
Citywide Signal Communication Upgrade
Intelligent Transportation System Upgrades
Single Audit Report for Federal Grant Expenditures (Attachment 7) The City is required to obtain a Single Audit if annual expenditures of Federal Funds exceed $750,000. In FY 2022-23 the City had $2,803,774 in expenditures of Federal Funds, which included $307,566 in Community Development Block Grant/Entitlement Grants, $777 in Coronavirus Relief fund, $1,445,728 in American Rescue Plan Act funds, $661,000 in SAFETEA-LU fund and $389,480 in Congressional Directives Federal Grants. The audit includes a Report on Internal Controls and Compliance, which reported no findings relative to the federal programs reported by the City.
Appropriation Limit Schedule Report (Attachment 8)
State law requires the adoption of an Appropriations Limit which must be included in the budget document. The City Council adopts the Limit by resolution, and it is adjusted annually based on factors establish in State Law. The Limit applies only to appropriations that are funded by proceeds of taxes. The Limit for Dublin is substantially more than the amount of revenue generated from taxes. The auditors reviewed the calculation used to develop the $468,263,521 limit as presented in the Fiscal Year 2023-24 Budget, and there were no exceptions noted in the findings.
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STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
The City Council Agenda was posted.
ATTACHMENTS:
1) Summary – Key Information
2) Annual Comprehensive Financial Report Fiscal Year 2022-23 3) Fiscal Year 2022-23 Auditors’ Communication with Those Charged with Governance 4) Fiscal Year 2022-23 Measure B Report
5) Fiscal Year 2022-23 Measure BB Report
6) Fiscal Year 2022-23 Measure F Report
7) Fiscal Year 2022-23 Single Audit Report
8) Appropriations Limit Fiscal Year 2023-24
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Attachment 1
SUMMARY - KEY INFORMATION
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDING JUNE 30, 2023
City Council Meeting December 19, 2023
1. Includes audited financial statements reviewed by the City's audit firm, Badawi & Associates.
2. The auditors’opinion is that the City's financial statements fairly represent the City's financial position.
3. The ACFR format will allow the City to apply for a Certificate of Achievement from the Government Finance Officers Association (GFOA). The goal is to provide financial information of the highest quality, in a transparent manner.
4. ORGANIZATION OF REPORT:
a. Transmittal letter (pages v-xv): provides a general overview of economic and budgetary factors that impact the City.
b. Opinion (pages 1-4): issued by the Independent Auditor on the City’s financial position and compliant with accounting principles generally accepted in the United States of America.
c. Management Discussion and Analysis (MD&A) (pages 5-20): provides an overview of the financial activities, with a focus on significant trends, as well as major changes associated with the City's major funds (i.e. General Fund and Impact Fee funds).
d. Financial Statements: a significant portion of the ACFR includes financial statements and schedules for the various funds used to account for the City's revenue and expenditures. Pages 24-26 present the Government - Wide Statement of Net Position presents financial statements similar to those used by private corporations . That section is followed by financial statements for each fund.
e. Statistical Section (pages 187-end): the unaudited statistical section of the ACFR includes relevant historical data.
5. Fund Balances - A complete listing of fund reserves and designations for all major funds is shown on page 78 of the report.
6. Audit Recommendations / Disclosures - As part of the Audit Review the independent auditors can present recommendations for consideration by the City. The process allows the Auditors to disclose their observations on certain practices and policies that need improvement. The report for FY 20 22-23 does 197
Attachment 1
not note any findings. This information is presented as a separate document and is included as Attachment 3 .
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ANNUAL COMPREHENSIVE
FINANCIAL REPORT
Fiscal Year ended June 30, 2023
City of Dublin
c a l i f o r n i a
Attachment 2
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Dublin, California
Annual Comprehensive Financial Report
For the year ended June 30, 2023
Prepared by:
Finance Department
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City of Dublin
Annual Comprehensive Financial Report
For the year ended June 30, 2023
Table of Contents
Page
i
INTRODUCTORY SECTION
Table of Contents ............................................................................................................................................................ i Letter of Transmittal ...................................................................................................................................................... v Principal Officers ...................................................................................................................................................... xvii Organizational Chart ............................................................................................................................................... xviii GFOA Certificate of Excellence in Financial Reporting ........................................................................................ xix
FINANCIAL SECTION
Independent Auditor’s Report ................................................................................................................................... 1 Management’s Discussion and Analysis .................................................................................................................. 5 Basic Financial Statements:
Government-Wide Financial Statements:
Government-Wide Statement of Net Position ................................................................................................... 24 Government-Wide Statement of Activities ..................................................................................... ................... 26 Fund Financial Statements:
Governmental Fund Financial Statements:
Balance Sheet ...................................................................................................................................................... 30 Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position .......................................................................... ....... 33 Statement of Revenues, Expenditures and Changes in Fu nd Balances ...................................................... 34 Reconciliation of the Government al Funds Statement of Revenues, E x p e n d i t u r e s , a n d C h a n g e s i n F und Balances to the Government-Wide Statement of Activities ................................................................................................... ................................ 37 Statement of Revenues, Expenditures and Ch anges in Fund Balance – Budget and Actual:
General Fund .............................................................................................................. ..................................... 39 Affordable Housing Special Revenue Fund ................................................................................... ............. 40 Proprietary Fund Financial Statements:
Statement of Net Position .................................................................................................. ............................... 42 Statement of Revenues, Expenses and Changes in Fund Net Position ...................................................... 43 Statement of Cash Flows .................................................................................................... ............................... 44 203
City of Dublin
Annual Comprehensive Financial Report
For the year ended June 30, 2023
Table of Contents, Continued
Page
ii
FINANCIAL SECTION, Continued
Fiduciary Fund Financial Statements:
Statement of Fiduciary Net Position......................................................................................... ....................... 46 Statement of Changes in Fiduciary Net Position .... ....................................................................................... 47 Notes to Basic Financial Statements ....................................................................................................................... 51 Required Supplementary Information (Unaudited):
Defined Benefit Pension Plan
Schedule of the City’s Proportionate Share of the Net Pension Liability – Last 10 Years ........................... 97 Schedule of Contributions – Last 10 Years ................................................................................... ..................... 98 Other Post Employment Benefits (OPEB)
City Retiree Health Plan – Schedule of Changes in Net OPEB Liability and Related Ratios during the Measurement Period – Last 10 Years ............................................................... . 99 Schedule of City Retiree Health Plan Contributions – Last 10 Years .......................................................... . 100 Supplementary Information:
General Fund – Budget Versus Actual
Schedule of Budget Versus Actual Revenue by Sources ......................................................................... ...... 103 Schedule of Budget Versus Actual Departmental Expenditures .................................................................. 104 Budgeted Major Governmental Funds Other than General Fund and Special Revenue Funds:
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual:
General Improvements Projects Capital Projects Fund ........................................................................ ...... 108 Parks Projects Capital Projects Fund ....................................................................................... ...................... 109 Streets Projects Capital Projects Fund ..................................................................................... ...................... 110 Public Art Capital Projects Fund ........................................................................................... ........................ 111 Public Facilities Impact Fees Capital Projects Fund ........................................................................ ............ 112 Fire Impact Fees Capital Projects Fund ..................................................................................... .................... 113 Traffic Impact Fees Capital Projects Fund .................................................................................. .................. 114 Dublin Crossing Contribution Capital Projects Fund ......................................................................... ........ 115 204
City of Dublin
Annual Comprehensive Financial Report
For the year ended June 30, 2023
Table of Contents, Continued
Page
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FINANCIAL SECTION, Continued
Non-Major Governmental Funds:
Combining Balance Sheet ..................................................................................................... .............................. 120 Combining Statement of Revenues, Expenditures and Chan ges in Fund Balances .................................. 128 Schedules of Revenues, Expenditures and Changes in Fu nd Balances – Budget and Actual .................. 136 Internal Service Funds:
Combining Statement of Net Position ......................................................................................... ..................... 176 Combining Statement of Revenues, Expenses and Changes in Net Position ............................................. 178 Combining Statement of Cash Flows ........................................................................................... .................... 180 Custodial Funds:
Combining Statement of Fiduciary Net Position ............................................................................................ 184 Combining Statement of Changes in Fiduciary Net Position .................................................................... ... 185 STATISTICAL SECTION (Unaudited)
Net Position by Component ..................................................................................................................................... 188 Changes in Net Position ............................................................................................................................................ 190 Fund Balances of Governmental Funds .................................................................................................................. 192 Changes in Fund Balances of Governmental Funds ............................................................................................. 194 Assessed Value of Taxable Property ....................................................................................................................... 196 Direct and Overlapping Property Tax Rates .......................................................................................................... 198 Principal Property Taxpayers .................................................................................................................................. 200 Property Tax Levies and Collections ...................................................................................................................... 201 Direct and Overlapping Debt ................................................................................................................................... 202 Legal Debt Margin Information ............................................................................................................................... 204 Demographic and Economic Statistics .................................................................................................................... 206 Property Value, Construction, and Bank Deposits ............................................................................................... 207 Principal Employers .................................................................................................................................................. 208 Full-Time Equivalent City Employees by Department ........................................................................................ 212 Operating Indicators by Function/Program .......................................................................................................... 214 Capital Asset Statistics by Function/Program ...................................................................................................... 216 Top 25 Sales Tax Producers ...................................................................................................................................... 218 Miscellaneous Statistical Data .................................................................................................................................. 219 205
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December 19, 2023
Honorable Mayor and Members of the City Council and Citizens:
Presented with this letter is the City of Dublin (City) Annual Comprehensive Financial Report (ACFR) for the year ended June 30, 2023. The information in this Report is prepared in accordance with Generally Accepted Accounting Principles (GAAP) as established by the Governmental Accounting Standards Board (GASB).
The responsibility for the accuracy and fairness of this report rests with the City.
Management Staff are responsible for preparing a complete report which is based upon reliable information. Management has established a comprehensive internal control framework that is designed both to protect the City’s assets from loss, theft or misuse and to compile sufficient reliable information for the preparation of the City’s financial statements. Management is committed to maintaining the City’s internal controls to safeguard assets; and provide reasonable assurances of proper recording of financial transactions. All disclosures necessary to enable the reader to gain an understanding of the City’s financial activities have been included and Badawi & Associates, a firm of licensed public accountants, has issued an unmodified (“clean”) opinion on the City of Dublin’s financial statements for the year ended June 30, 2023.
The independent auditor’s report has been included in this Annual Comprehensive Financial Report.
This letter of transmittal is designed to assist with an individual’s review of the City’s financial statements. Specifically, it is intended to offer the reader useful information in assessing the economic conditions impacting the City of Dublin. It also complements the separate Management’s Discussion and Analysis (MD&A) narrative section, which provides financial highlights of the City and additional analysis of trends reported as part of the financial statements. The MD&A is located immediately following the report of the independent auditors.
CITY PROFILE
The City of Dublin was incorporated in 1982 and is located in the East Bay of the San Francisco Bay Area and is approximately 30 miles east of San Francisco and 30 miles northeast of the Silicon Valley. In 2011 Dublin was named an “All-America City” by the National Civic League, and in 2018 it was named one of the best places to live in the United States, according to Money Magazine.
The City provided for a permanent staffing level of approximately 102 full-time equivalent City employees in FY 2022-23, in addition to temporary and contract personnel. According to the California Department of Finance as of January 2023, the City of Dublin serves a population of 71,750, and covers 15.23 square miles. The City’s strategic location offers opportunities for employers, retailers, and high-quality residential and transit-oriented neighborhoods.
The City operates under the Council-Manager form of government. Policy-making and legislative authority are vested in the City Council, which is responsible for the City’s ordinances, operating resolutions, adoption of the annual budget, hiring of the City Manager and City Attorney, and confirming the appointments made by the Mayor to commissions and committees. The City Council currently consists of a directly elected Mayor, who serves a two-year term, and four at-large Councilmembers each elected to a four-year term. In September 2022 the City Council amended the Dublin v
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Municipal Code to establish district-based elections, beginning with the 2024 election. The City Manager is responsible for implementing the policies, ordinances, and directives of the City Council, overseeing the day-to-day operations of the City, and hiring City staff. The City Attorney provides legal counsel regarding City business, drafts and reviews ordinances, resolutions, and contracts, and represents the City in certain litigation.
The City’s biennial budget serves as the foundation for the City’s financial planning and control. The operating budget is adopted by the City Council on an annual basis prior to July 1 of each year. During mid-cycle, a review and update are prepared and presented to the City Council for the adoption of the second year’s budget. The City Council exercises budgetary control at the fund level, and budgeted funds are adopted on a basis consistent with Generally Accepted Accounting Principles (GAAP) in the United States. Expenditures may not legally exceed budgeted appropriations at the fund level, and Management does not have the authority to increase the budget without the approval of the City Council. However, the City Manager may authorize budgetary transfers from one account to another within the same fund, appropriate funds from Committed and Assigned fund balances that have been approved by the City Council for specific purposes, and appropriate funds for asset replacement funded by the City’s Internal Services Funds.
Current City services include the City Manager’s Office (General Administration, Human Resources/Risk Management, Communications, City Clerk/Records, Disaster Preparedness, Information Systems, and Economic Development), Finance, City Attorney, Police Services, Fire Services, Community Development (Building/Planning/Housing), Parks and Community Services, and Public Works (Engineering/Capital Improvement Program/Transportation/Maintenance/Environmental Sustainability/Special Districts). The City contracts with public agencies and private firms to provide a variety of key services including Building Inspection, Fire Services, Police Services, and Maintenance. A total of 159.46 FTE contract employees were included in the City budget in FY 2022-23.
HIGHLIGHTS
Dublin, California has long been known as the “crossroads” of the Bay Area. Dublin sits at the intersection of two major highways: Interstate 580 and Interstate 680. The City delivers a broad range of community services and has a wide range of housing types available to meet the demands of various employers throughout the region. Over the past several years, the City has added new housing options including a mix of transit-oriented developments adjacent to the City’s two Bay Area Rapid Transit (BART) stations, as well as single family homes and condominium/townhome developments. The proximity to additional job centers and colleges and universities in the Bay Area creates an attractive environment.
Much of the recent growth in the community, which is now in its final phases of completion, was planned in the voter-approved 1994 Eastern Dublin Specific Plan. This vision has allowed a strong foundation and quality neighborhoods and public facilities to be built citywide. New developments in the Downtown Dublin Specific Plan area, specifically in the Transit District, have provided housing opportunities as well as retail space that will support a high quality of life in Dublin. In addition, the City’s aquatics complex, The Wave, offers residents and visitors a recreation destination with pools, slides, and play structures situated in the center of the community.
Development over the past decade has had positive budgetary impacts, allowing the City to make significant investment in our community-serving facilities, such as parks. While careful financial stewardship has put Dublin in a strong fiscal position, it is important to ensure the stability of the community’s long-term fiscal health to continue to provide high-quality services as the City reaches build-out.
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Key City activities and accomplishments during FY 2022-23 include the following:
Economic Development
Busi
ness Recovery Playbook
In Fiscal Year 2022-23 the City continued implementation of its Business Recovery Playbook: A Post- Pandemic Strategic Action Plan with the ongoing objective to provide support and resources towards offsetting the negative effects of COVID-19 and helping businesses be successful in the post-pandemic “new normal.” Specifically, the City was able to complete and continue the remaining items of the Playbook’s business recovery efforts:
Business Spotlight Series, a video series featuring Dublin small businesses. Small Business Navigator Program, providing small businesses in Dublin with access to free, timely, technical support in key functional areas via qualified service providers. Dublin Business Corner, providing a free online small business training resource for Dublin business owners.
Continuation of a Small Business Webinar Series, providing additional free educational webinars.
As part of the Business Recovery Playbook, the City Council supported a loyalty rewards program, the “Dublin Marketplace,” designed to boost local commerce and small business activity. The program was launched in March 2023 and now has more than 850 users.
The City’s notable Business Concierge Program continued in FY 2022-23 helping businesses open new locations in Dublin, expand current locations, or relocate to a new space in Dublin. In addition, this Program assisted more than three dozen businesses through the business license, planning, and building permitting processes.
Business retention and attraction efforts also continued and were supported by the various business services, programs, and incentives, including those of the Business Recovery Playbook. Programs in the Playbook reached more than 4,000 businesses, and directly assisted more than 400 businesses, helping 93% of them remain in operation. For example, the Mobile Text Communication Program for small businesses created another form of communication between the City and business owners to discuss programs and services that could be of assistance. The provision of education and resources in the forms of webinars, tutorials, and on-demand access assisted business with staffing challenges, funding opportunities, supply chain challenges, marketing, social media support, and more.
The City hosted several industry-specific and general Business Roundtables, including in the areas of Fitness, Retail, Medical, Education and Recreation, Personal Services, Food and Beverage, and Manufacturing. These Roundtables provided business owners the opportunity to discuss their thoughts and concerns with Staff, connect with fellow businesses, and learn about the City’s programs and services.
New/Expanded Businesses
The City welcomed multiple new businesses to Dublin in the dining, services, and retail sectors including Wine Storage Dublin, Sleep Number, Luxe Barber Studio, Satvik Eggless Bakery, SavvyMoney, Two Hands Fresh Corn Dogs, Teaspoon, Stratford School, PGA Tour Superstore, Komyo Sushi, Ari Sushi and Tendon, Grose Noir Tattoo Studio, Grand Café, BBQ 85, Mao Izakaya & Sushi, Silver oven & Grill, Feng Cha Teahouse, Building Kidz of Dublin, Tailored Shared Services, Titlian by Mani Singh, Angus the Butcher Shop, Hot Pho, FitMealz, Dave’s Hot Chicken, Pizza My Heart, Serendipity Labs, Turmeric Indian Supermarket, Hong Kong Café, and Dublin Infiniti.
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In addition, Snowflake Inc., a data cloud company, expanded its footprint in Dublin by signing a long- term lease at the Dublin Corporate Center campus. Several other companies also signed new leases including Grocery Outlet at Shamrock Village, North Emergency Services at Sierra Trinity Business Park, Tailored Brands, Inc. on Arnold Road, and SavvyMoney at Dublin Corporate Center.
Additional Programs and Events
The Inaugural Holiday Gift Guide provided an opportunity for businesses to advertise at a reduced rate. The Gift Guide sold out within two days of the initial offering. New Village Parkway Street Banners were installed between Dublin Boulevard and Amador Valley Boulevard with the goal of creating a sense of space within “The Village,” a neighborhood shopping area containing a mixed variety of food and beverage establishments, retail stores, and service providers.
The Taste the World in Dublin Passport Campaign was extended offering residents additional time to participate in the exploration of Dublin’s wide range of culinary options and a chance to win a $25 gift card to a Dublin restaurant.
The City partnered with the Tri-Valley Career Center for the fall Job Fair & Career Expo. The Business Visitation Program was relaunched, providing an opportunity for business owners, City officials, and Staff to have direct conversations about the businesses’ challenges and opportunities.
The City again partnered with Visit Tri-Valley, along with 12 Dublin restaurants, to participate in the Taste Tri-Valley Restaurant Week.
Staff co-hosted a Startup Tri-Valley podcast that featured Saurabh Kumar, CEO and Co-founder of Rezolve.ai, a Dublin-headquartered, generative AI-powered employee services desk that integrates with Microsoft Teams.
Twenty-five Dublin businesses participated in the City of Dublin Poetry Walk 2023 by displaying poems at their establishments in celebration of National Poetry Month.
Community Development
Hous
ing Element Update
In Fiscal Year 2022-23 the City Council adopted the State mandated Housing Element Update for the 2023-2031 Planning Period. In accordance with State requirements, the Housing Element Update includes policies to accommodate the City’s Regional Housing Needs Allocation (RHNA), which is 3,719 units for the period. The City submitted the draft Housing Element Update to the California Department of Housing and Community Development (HCD) and is working with HCD staff toward certification.
Affordable Housing
The City has continued to make a number of efforts to further the City Council’s strategic goal to facilitate the production of affordable housing.
The City continues to work with Eden Housing to implement their 113-unit Dublin Family Affordable Apartments, an affordable housing project for seniors. This includes implementation of a $3.3 million Local Housing Trust Fund Grant the City secured from the State of California for this project. This grant is in addition to the City’s dedication of the site to Eden Housing and $5 million the City allocated from its share of the Alameda County Measure A-1 Bond Funds to the project. The developer is currently pursuing their building permit while finalizing the project funding.
The City continued its work on the 300-unit Amador Station affordable housing development, entering into an Affordable Housing Assistance Agreement and a $4.3 million Predevelopment Loan Agreement with the developer. The City is also continuing to implement this project, including the administration of a $3.3 million Local Housing Trust Fund Grant from the State of California. This grant is in addition to viii
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the $7.1 million from the City’s Affordable Housing Fund and $2.9 million of the Alameda County Measure A-1 Bond Fund that the City allocated to this project.
City staff continue to work with the Alameda County Surplus Property Authority to acquire an approximately two-acre site near the East Dublin BART Station. The acquisition would be at low/no cost to an affordable housing developer to facilitate the creation of an affordable housing development on the site. Staff is working with Eden Housing on a proposal to construct approximately 100 units of workforce housing that would be affordable to lower income households.
Lastly, the City Council approved an Affordable Housing Agreement with an affiliate of Trumark Homes associated with the development of the East Ranch project. The East Ranch project is the development of a 165.5-acre site with a 573-unit residential. The agreement requires the developer to make a payment of $6,528,275 to the City’s Affordable Housing Fund, dedicate a two-acre site for a future affordable housing project affordable to low-income and special needs households, construction of 18 homes that will be affordable to moderate-income households, and construction of 50 accessory dwelling units that will be affordable to low-income households.
At Dublin Project
The At Dublin project is located on approximately 76 acres of land in eastern Dublin that is largely surrounded by development. The City completed a yearlong community outreach process to gain community feedback about the future land use plan for this site. In November 2022, the City Council approved a development plan for the At Dublin project which allows development of up to 650 residential units and up to 265,000 square feet of retail commercial development.
Public Safety
Dublin Police
Services (DPS) continued its crime enforcement and community policing programs during Fiscal Year 2022-23, including the National Drug “Take-Back Initiative” event to collect prescription drugs, community engagement events such as National Night Out, Coffee with a Cop, and Curry with the Captain, as well as Tobacco Permit Compliance Operations to ensure businesses are not selling tobacco products to minors. In addition, DPS expanded the community outreach by partnering with local business to have Mother’s Day and Father’s Day giveaways as well as an Easter Egg Extravaganza which encouraged citizens to visit numerous Dublin businesses and report back to the Police Station for a prize.
Dublin Police Services continued to incorporate new technology, such as Situational Awareness cameras as well as adding additional License Plate Reader cameras, to enhance the ability for officers to investigate crimes throughout the City. Dublin Police Services was awarded a $81,000 grant from the California Office of Traffic Safety (OTS) for a year-long program of special enforcement and public awareness efforts to prevent traffic-related deaths and injuries. Dublin also continued to utilize the $870,000 grant from the California Department of Justice for a three-year tobacco enforcement and education program. The tobacco grant funds the salary and benefits for a third School Resource Officer and costs related to enhancing the enforcement of the illegal use of tobacco at schools and surrounding areas.
Finally, the Behavior Health Unit celebrated its one-year anniversary with DPS and has proven to be a vital resource for the community by filling in some previously identified gaps in service. The Unit consists of two clinicians and a supervisor who serve as victim advocates, assist in obtaining services for the unhoused, and assist families with special needs juveniles. ix
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Public Works
Intergov
ernmental Relations
The City continued to provide janitorial, pest management, and solid waste and recycling services on Parks Reserve Forces Training Area (Camp Parks) through the Intergovernmental Support Agreement (IGSA) for Municipal Services with U.S. Army Garrison Fort Hunter Liggett. The IGSA term runs from 2019 through December 2028. The City also continued to provide Dublin San Ramon Services District (DSRSD) landscape maintenance and weed abatement services through the Tri-Valley Intergovernmental Reciprocal Services Master Agreement.
Environmental Sustainability
The City Council adopted the “City of Dublin Climate Action Plan 2030 and Beyond” (CAP) on September 15, 2020. The CAP provides the foundation to achieve greenhouse gas reduction targets for 2030 and reach carbon neutrality by 2045. As part of the efforts, the City replaced nine existing gas water heaters with electric heat pump water heaters in six municipal buildings. The City also installed two new, dual-port Level-2 electric vehicle charging stations on Donlon Way near Heritage Park.
A pilot project was initiated to determine how compost application on urban turf fields impacts carbon sequestration. The pilot project is a partnership with StopWaste and the University of California Merced. The first round of sampling and analysis occurred and is expected to continue for one more year. If the analysis shows positive results for carbon sequestration, compost application on turf fields throughout Dublin will also help the City meet its State organic products procurement requirements.
Dublin Bicycle and Pedestrian Plan
The City Council adopted the “Dublin Bicycle and Pedestrian Plan” on January 10, 2023. The Plan is a critical planning, policy, and implementation document that supports the City’s efforts to improve the safety and attractiveness of biking and walking as a means of transportation and recreation. The Plan includes assessments of existing system conditions through an inventory of infrastructure, programs, and policies related to biking and walking, analysis of bicycle level of traffic stress, evaluation of collision data, estimation of bicycle and pedestrian access and demand, and public input. The Plan also includes a recommended biking and walking network and a prioritized list of projects to support biking and walking in Dublin.
Local Roadway Safety Plan
The City Council adopted the “Local Roadway Safety Plan” (LRSP) on January 10, 2023. The LRSP uses historical collision data and an understanding of local context to assess existing roadway safety conditions in Dublin, identify areas for improvement, and provide recommended actions with an implementation plan. The LRSP creates a data-driven decision-making framework to reduce the number of fatal and severe injury collisions on local roadways. It recommends site-specific as well as systemic safety improvements that can be applied citywide.
Infrastructure and Capital Improvement Projects
The following major capital improvement projects were completed during FY 2022-23:
Citywide Signal Communications Upgrade – Conduit Installation The project provided for the design and installation of a three-inch conduit on Dublin Boulevard between the Civic Plaza and San Ramon Road. In a future phase, fiber optic lines will be installed in the conduit, and all intersections along Dublin Blvd between Civic Center and San Ramon Rd will be upgraded to a faster, more reliable, and higher bandwidth network connection. x
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Dublin Boulevard Pavement Rehabilitation
The project provided for the design and construction of pavement repairs, full-width asphalt concrete overlay, and other roadway improvements on Dublin Boulevard between Hacienda Drive and Scarlett Drive.
Fallon Sports Park Phase 3
The project is the final 14-acre phase of construction for the 60-acre sports complex. Phase 3 opened to the public in October 2022 and includes a cricket field, lighted batting cages, four volleyball courts, play area, and two little league baseball fields.
The City has also undertaken or continued work on the following major capital improvement projects in FY 2022-23:
Citywide Energy, Resiliency, and Disaster Preparedness Improvements The project provides for an investment grade audit, design, and construction of various energy upgrades, efficiency measures, and resiliency improvements, including solar photovoltaic and energy storage systems, back-up generators, and advanced control systems. The Disaster Preparedness Improvements portion of the project allows for the design and repair of seven damaged sites throughout the City resulting from the January 2023 storms.
Cultural Arts Center
The project will design and construct a 13,000-square-foot Cultural Arts Center on the first floor of the former Dublin Police Services Building at the Civic Center and will renovate the second-floor space to accommodate offices for the Parks and Community Services Department.
Don Biddle Community Park
The project will construct a 30-acre community park in the Boulevard Development. Amenities include tennis courts, basketball courts, a picnic and barbeque area, two restroom buildings, two parking lots totaling a great lawn (multi-use lawn area), playgrounds, parent paddock, and community garden.
Dublin Boulevard Extension – Fallon Road to North Canyons Parkway The project will design the future 1.5-mile extension of Dublin Boulevard through unincorporated Alameda County to North Canyons Parkway in Livermore. The project is a joint effort of the City of Dublin, the City of Livermore, and the Alameda County Transportation Commission.
Iron Horse Nature Park and Open Space – Phase 1
The project will design and construct a 12.13-acre nature park and open space adjacent to the Iron Horse Trail, from the northern City limit to the confluence of the Alamo and South San Ramon Creeks. The Phase 1 design includes approximately 2,000 linear feet of new trail, soil remediation, new gathering spaces, benches, and interpretive signs, as well as a trail connection to and shade structure in Stagecoach Park.
Iron Horse Trail Bridge at Dublin Boulevard
The project will construct a 230-foot free-span pedestrian and bicycle bridge for the Iron Horse Trail over Dublin Boulevard.
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Wallis Ranch Community Park
The project will design and construct an 8.75-acre community park which will include a 0.9-acre dog park, lighted pickleball, tennis, and basketball courts, 25 stall parking lot, picnic areas, two playground areas, large turf area, landscaping, and pathways for circulation.
Tassajara Road Improvements – North Dublin Ranch Drive to Quarry Lane School The project will design and construct street improvements for Tassajara Road to a four-lane arterial standard with bike lanes, sidewalks, landscaped median, and stormwater treatment areas.
Tassajara Road Realignment and Widening – Fallon Road to North City Limit The project will design and construct street improvements for a realigned Tassajara Road to a four-lane arterial standard with bike lanes, sidewalks, landscaped median, and stormwater treatment areas. This project is a joint effort with Contra Costa County.
Parks & Community Services
In Fiscal Year
2022-2023, the Parks and Community Services Department continued to provide the community with a robust array of services, including 250+ contract classes, 30,000+ hours of field and shelter rentals, 60,000+ visits to The Wave for recreation swimming, 4,000+ swim lesson participants, and 25,000+ senior lunches served at the Open Heart Kitchen. These offerings contribute to a vibrant and inclusive community experience.
A number of Public Art projects were completed, including the installation of “Crossroads” at Don Biddle Community Park, and the completion of “Picture This,” a temporary art project coordinated in collaboration with the cities of Danville, Dublin, Livermore, Pleasanton, and San Ramon. Planning and selecting the next round of Utility Box Art, which included 10 utility boxes, was completed. In partnership with the Dublin Arts Collective, the “High Life” student art show took place at Splatter, and the annual Nature in Your Backyard Photo Contest took place as part of Dublin Pride Week. The selection and approval of the Heritage Park Public Art project of a memorial sculpture and artistic park features were completed.
Park dedications and grand openings, included:
Don Biddle Community Park
Fallon Sports Park Phase III which included a cricket field, two little league fields, multi-use batting cages and sand volleyball courts
The planning and design process for several projects also continued:
Wallis Ranch Community Park
Jordan Ranch Neighborhood Square
Iron Horse Nature Trail and Park
The 2023 Dublin Arts Center Operations Guide was completed and recommended to the City Council by the Heritage and Cultural Arts Commission. This document aims to outline guiding principles, strategies, and programming for the Dublin Arts Center (DAC), assist Staff in maximizing the utilization of spaces, and guide the operations of an efficient facility that minimizes general fund subsidies.
The Parks and Community Services Department had a bustling year marked by the 40th anniversary celebration of the city in August through the Ruby Affair. It successfully organized crowd-drawing events like Splatter and St. Pat's celebrations, collectively attracting over 100,000 attendees.
Additionally, innovative community events such as the Floating Pumpkin Patch at The Wave and a Backyard Block Party with a kickball tournament were introduced. It was a dynamic and eventful year xii
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for the Parks and Community Services Department, setting the stage for anticipations of future endeavors.
FINANCIAL OUTLOOK AND GENERAL FUND SUMMARY
Fisca
l Year 2022-23
In Fiscal Year 2022-23 the City experienced a full year of a return to normalcy following the impacts of the COVID-19 pandemic, with strong performance in all revenue categories. Property Tax revenue increased by $3.8 million as housing prices remained strong despite the increases in interest rates, with an increase in net taxable assessed valuation of $1.2 billion (6.1%) over the prior year. Property Tax revenues have continued to increase as home values have remained stable and new developments have come online within the City. There were no significant delinquencies in the fiscal year.
Sales Tax came in $2.5 million (9.5%) higher than Fiscal Year 2021-22, as household spending continued to increase, despite warning signs identified by the City’s economic consultants. City staff had originally projected Sales Tax to remain flat on a year-over-year due to inflation and the uncertainty of interest rates, especially in the last two quarters of the fiscal year, but strong sales in the Autos and Transportation sector resulted in revenue exceeding the updated mid-year projections.
Development-related revenue is the third largest City revenue stream, making up 6.9% of total General Fund revenues in Fiscal Year 2022-23. Year-end development revenue came in at $8.6 million, a decrease of $1.2 million (-12.4%) from the prior year, but an increase of $1.2 million (16.5%) from the Fiscal Year 2022-23 Amended Budget. These results are attributed to a decrease in development activities in the first part of the year, which then increased faster than anticipated in the latter part of the year. Development revenue can significantly vary year to year based on development project timelines, so Staff budgets this source conservatively. The City also maintains a Service Continuity Reserve in the General Fund to ensure there are future funds to cover expenditures when development activity slows.
Lastly, revenue from Charges for Service increased as Parks and Community Services classes and activities continued to see high demand, further signaling a robust recovery from the pandemic-related impacts.
Moving forward, Staff is cautiously optimistic. While it was originally anticipated that the economy would start to see a slowdown in 2023, it remained resilient despite the rapid pace of interest rate increases made by the Federal Reserve Bank. Staff will continue monitoring for any signs of an economic slowdown, carefully following discussions on inflation, interest rates, and the uncertainty of the economy’s reaction to world affairs.
10-Year Forecast
While Fiscal Year 2022-23 finished with a General Fund surplus of approximately $25.9 million including transfers, long-term fiscal sustainability remains at the forefront of budget discussions. Despite the continued growth in Property Tax, declining and/or levelling of Sales Tax and Development Revenues, the rising costs of contracted services, and the potential for an economic downturn in the next few years could result in the City facing a deficit beginning in Fiscal Year 2030-31 as illustrated in the 10- Year Forecast (Figure 1). The projected deficit will guide the use of reserves and decisions made in the next operating budget cycle.
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Figure 1. 10-Year Forecast
FINANCIAL PLANNING AND POLICIES
In May of 2023, the City Council adopted the City’s Fiscal Year 2023-24 Budget, as in previous years, the primary goals addressed in this budget cycle are: 1) fully fund current City operations; 2) fund future capital endeavors now through the setting aside of specific reserves; and 3) maintain adequate operating reserves over the long term. In addition, the Two-Year Strategic Plan includes a focus on infrastructure maintenance and reinvestment and organizational health, both of which have budget implications.
The City adopts a balanced operational budget in accordance with City policies and uses a two-year budget format. The City Council adopts a final budget and appropriates funds in advance of the July 1st start of the new Fiscal Year. In terms of major capital investments constructed with Impact Fees, the City has historically operated utilizing a pay-as-you-go philosophy. The City has typically operated with little to no debt financing, but due to the historically low interest environment that was taking place in the first quarter of Fiscal Year 2021-22, the City Council authorized the sale and issuance of 25-year lease revenue bonds to finance the Energy Efficiency Improvements project, which includes construction of various energy upgrades, efficiency improvements, lighting upgrades, energy generation, solar photovoltaic (PV) systems, and energy storage projects at facilities, parks, street rights-of-way, and other City-owned property. Renewable, resiliency, and disaster preparedness improvements to prepare for future PG&E Public Safety Power Shutoff events and other emergency events will be provided with back-up generators at City facilities. The City has established a reserve to fund future bond payments or to pay off the bonds early, should the opportunity or necessity occur.
The financial policies currently used for budgeting also provide for the use of Internal Service Funds to ensure resources are available to finance the replacement of public safety vehicles and apparatus, computer systems, and certain building components. The City has also proactively financed contributions to fund both pension and retiree health liabilities. This reflects the City’s practice of being prepared to address long-term needs.
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GFOA AWARD
The Government Finance Officers Association (GFOA) has recognized the City of Dublin for its Annual Comprehensive Financial Report covering the period ending June 30, 2022. A copy of the award from this entity is included in this report. This award represents the 32nd consecutive year that the City’s report was recognized by the GFOA. In order to be recognized, the City was required to produce an easily readable and efficiently organized report. The report must also meet the standard for generally accepted accounting principles and legal requirements.
ACKNOWLEDGEMENTS
The preparation of this report was made possible by the collaborative efforts of Staff in the Finance Department and other departments, as well as the City’s audit firm, Badawi & Associates. A special thanks and acknowledgement to Stephanie Tsoi, Senior Accountant, and Wendy Lam, Accounting Manager, for their work managing the audit process. We would also like to recognize the Mayor and City Council for their guidance and support in the City’s pursuit of excellence in financial reporting.
Sincerely,
Linda Smith Jay Baksa
City Manager Finance Director
xY
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CITY OF DUBLIN
PRINCIPAL OFFICERS
Fiscal Year 2022/2023
Mayor
Melissa Hernandez
Vice Mayor Councilmember
Michael McCorriston Sherry Hu
Councilmember Councilmember
Jean Josey Kashef Qaadri
ADMINISTRATION PERSONNEL
City Manager Linda Smith
Assistant City Manager Colleen Tribby
Deputy City Manager Hazel Wetherford
City Attorney John Bakker
Finance Director Jay Baksa
City Clerk Marsha Moore
Chief of Police Nate Schmidt
Community Development Director Jeff Baker
Fire Marshal Bonnie Terra
Human Resources Director Sarah Monnastes
Parks & Community Services Director Jackie Dwyer
Public Works Director Andrew Russell
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Organizational Chart
Citizens of Dublin
City Council
City Manager
Office of the
City Manager
Police Services
Fire Services
Economic
Development
Community
Development
Assistant City
Manager
Finance
Non-
Departmental
Parks and
Community
Services
Public Works
City Attorney
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented
to
City of Dublin
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June
30, 2022
Executive Director/CEO
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1 INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of the City Council
of the City of Dublin
Dublin, California
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Dublin (City), as of and for the year ended June 30, 2023, and the respective budgetary comparisons for the General Fund and the Affordable Housing Special Revenue Fund, and the related notes to the financial statements, which collectively comprise City’s basic financial statements as listed in the table of contents.
In our opinion, the accompanying financial statements pr esent fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2023, and the respective changes in financial position and, where applicable, cash flows thereof, and the respective budgetary comparisons for the General Fund and the Affordable Housing Special Revenue Fund for the ye ar then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing st andards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the Un ited States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethica l requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements The City’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally ac cepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substa ntial doubt about the City’s ability to continue as a going concern for twelve months beyond the financ ial statement date, including any currently known information that may raise substantial doubt shortly thereafter. 223
To the Honorable Mayor and Members of the City Council
of the City of Dublin
Dublin, California
2 Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may in volve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggr egate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS, we:
x Exercise professional judgment and maintain professional skepticism throughout the audit. x Identify and assess the risks of material misstat ement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence rega rding the amounts and disclosures in the financial statements.
x Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed. x Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
x Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the Unit ed States of America require that the management’s discussion and analysis, and the required pension and OPEB schedules on pages 5-20 and 97-100 be presented to supplement the basic financial stat ements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational , economic, or historical context. We have applied certain limited procedures to the required supplem entary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information an d comparing the information for consistency with 224
To the Honorable Mayor and Members of the City Council
of the City of Dublin
Dublin, California
3 management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opin ions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual no nmajor fund statements and the budgetary comparison schedules for the major capital project funds and nonmajor governmental funds are presented for purposes of additional analysis and are not a required part of the basic financial statements.
The combining and individual nonmajor fund statements and the budgetary comparison schedules for the major capital project funds and nonmajor governmental funds are the responsibility of management and were derived from and relates directly to the underlyi ng accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certai n additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund statements and the budgetary comparison schedules for the major capital project funds and nonmajor governmental fu nds are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual comprehensive financial report. The other information comprises the informatio n included in the annual comprehensive financial report but does not include the financial statements an d our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherw ise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrec ted material misstatement of the other information exists, we are required to describe it in our report.
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To the Honorable Mayor and Members of the City Council
of the City of Dublin
Dublin, California
4 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 12, 2023 on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, cont racts, and grant agreements and other matters. The p u r p o s e o f t h a t r e p o r t i s s o l e l y t o d e s c r i b e t h e s cope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness o f i n t e r n a l c o n t r o l o v e r f i n a n c i a l r e p o r t i n g o r o n c o m p l i a n c e . T h a t r e p o r t i s a n i n t e g r a l p a r t o f a n a u d i t performed in accordance with Government Auditing St andards in considering the City’s internal control over financial reporting and compliance.
Badawi & Associates, CPAs
Berkeley, California
December 12, 2023
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5 Management’s Discussion and Analysis (MDA) June 30, 2023 As management of the City of Dublin, we offer reader s of the City’s financial statements this narrative overview and analysis of the financial activities of th e City for the Fiscal Year (FY) ended June 30, 2023.
Please read this overview in conjunction with the accompanying letter of transmittal and the accompanying basic financial statements.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis are intended to serve as an introduction to the City’s basic financial statements, which comprise three components:
x Government-wide Financial Statements – The se include the Statement of Net Position and Statement of Activities. These statements provide information about the activities of the City as a whole and about the overall financial condition of the City in a manner similar to a private-sector business.
x Fund Financial Statements – These statements provide additional information about the City’s major funds, including how services were financed in the short term and fund balances available for financing future projects.
x Notes to the Financial Statements – The notes provide additional detail that is essential to a full understanding of the information provided in the Government-wide and Fund Financial Statements.
In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the Ci ty’s progress in funding its obligation to provide pension benefits to its employees.
GOVERNMENT-WIDE FINANCIAL STATEMENTS - DESCRIPTION
These statements include all assets and liabilities of the City using the accrual basis of accounting, which is similar to the accounting used by most private sector companies. All current year’s revenues and expenses are accounted for regardless of when the cash is paid or received.
These statements report the City’s net position and changes to the net position during the FY. Net position - the difference between assets and liabilities - is one way to measure the City’s financial position. Over time, increases or decreases in the net position are among indicators used to assess whether the financial condition of the City is improving or deteriorating. However, it is also important to consider other nonfinancial factors, such as: changes in the City’s property tax values, sales tax outlets, and the condition of the City’s infrastructure (i.e. parks and streets), to accurately assess the overall health of the City.
The Government-wide statements present information about the City’s activities, all of which are considered governmental in nature. These includ e services provided for police, fire, community development, streets, and recreation. These services are funded from monies received from property, sales and other taxes, direct charges for services provided, grants, contributions from other agencies, and impact fees collected from new development.
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6 GOVERNMENT-WIDE FINANCIAL STATEMENTS – ANALYSIS
Table 1 provides an analysis summarizing the year-t o-year change in the Government-Wide net position reported for the City of Dublin. The “net position” is represented as the difference between total assets and total liabilities.
As illustrated in the above table, the City’s net position increased by $32.7 million (3.7%) during FY 2022-
23. This is due to the following:
x Total assets increased $27.5 million, due primarily to increases in cash and investments which are part of current assets and capital assets. Cash and investments increased by $21.8 million which was mostly derived from the net revenue over expenditures for the fiscal year. Capital assets increased by $12.0 million due to the progression of capital projects during the year (e.g., $7.5 million on Citywide Energy Improvements and $6.2 million on Iron Horse Trail Bridge Project). Th ese increases were offset by a $6.2 million decrease in OPEB Assets, which we re a result of investments underperforming and a change to a more conservative investment strategy as the OPEB Plan continues to be super-funded (i.e., assets are larger than anticipated liabilities).
x Total liabilities increased $14.5 million in FY 2022-23 from the prior year. Current liabilities primarily represent obligations outstanding for current operations (accounts payable), capital projects (such as retention payable), deferred revenue, and deposits held. The noncurrent liabilities increased $10.4 million mainly due to an increase in net pension liab ility, resulting from th e CalPERS pension fund returns underperforming the annual benchmark.
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7 x The City’s $545.1 million in net investment in capit al assets represents 59.1% of total reported net position. Capital asset investments include the City’s investments in land, infrastructure, buildings, and equipment. As the City uses these capital assets to provide current services to residents, the assets are not available for future spending. The change in annual capital assets reflects the addition of capital assets (including Construction in Progress) less accumulated depreciation. x Restricted net positions, including a portion of restricted net positions in the General Fund, Affordable Housing Fund, Impact Fee Funds, and Grant Funds, ar e resources that have external restrictions on their use. In FY 2022-23, the City’s restricted net positions decreased by a net $2.7 million, due to the expenditure of Public Facilities Impact Fees on Capital projects. Approximately $261.8 million of the City’s total assets (an increase of $44.8 million over the prior year) are unrestricted and may be used to meet the City’s ongoing obligations to the community and to creditors. The bulk of unrestricted assets in the General Fund are already placed in committe d and assigned reserves for specific purposes, in accordance with the City’s Fund Balance and Reserves Policy. x As part of implementing GASB Statement 96, Subscription-Based Information Technology Arrangements and correcting prior year recognized leases receivable and related deferred inflow of resources, the City adjusted the FY 2021-22 assets and liabilities. There was no net impact on beginning fund balance or net position as a result of the prior period adjustments (see Note 9 to the financial statements for a summary of the restatement).
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8 GOVERNMENTAL ACTIVITIES
Table 2 below provides a summary of major program expense categories, program revenues used to fund specific expenses, and general City revenues available for funding all City programs. The information presented here provides detail behind the numbers shown in the Summary of Net Position (Table 1).
As shown in Table 2, revenues from all sources totaled $153.0 million and expenses for all City programs totaled $120.3 million in FY 2022-23. The City’s net position increased $32.7 million.
TABLE 2: SUMMARY OF CHANGES IN NET POSITION
June 30, 2023 and 2022
June 30, 2023 June 30, 2022 $ Change % Change
Revenues
Program Revenues
Charges for Services 27,548,071$ 27,660,672$ (112,601)$ -0.4% Operating Contributions and Grants 11,046,967 7,273,101 3,773,866 51.9% Capital Grants and Contributions 7,033,281 16,457,860 (9,424,579) -57.3% Total Program Revenue 45,628,319 51,391,633 (5,763,314) -11.2% General Revenues
Property Taxes 59,056,139 55,186,388 3,869,751 7.0% Special Assessments Taxes 1,607,028 1,527,036 79,992 5.2% Sales Taxes 30,541,735 27,935,894 2,605,841 9.3% Other Taxes 8,729,684 8,281,142 448,542 5.4% Investment Income, Unrestricted 2,759,385 (12,803,156) 15,562,541 121.6% Intergovernmental, Unrestricted 305,729 324,519 (18,790) -5.8% Other General Revenues 4,355,226 8,277,075 (3,921,849) -47.4% Total General Revenue 107,354,926 88,728,898 18,626,028 21.0% Total Revenues 152,983,245 140,120,531 12,862,714 9.2% Expenses
Governmental Activities:
General Government 27,027,922 23,516,577 3,511,345 14.9% Police 27,849,316 24,439,146 3,410,170 14.0% Fire 16,308,574 14,657,052 1,651,522 11.3% Public Works and Transportation 30,353,850 25,252,334 5,101,516 20.2% Park and Community Services 11,207,229 11,745,611 (538,382) -4.6% Community Development 6,969,557 6,777,210 192,347 3.6% Interest on Long-Term Debt 583,787 336,950 246,837 100.0% Total Governmental Activities 120,300,235 106,724,880 13,575,355 12.7% Total Expenses 120,300,235 106,724,880 13,575,355 12.7% Increase In Net Position 32,683,010 33,395,651 (712,641) -2.1% Net Position - Beginning of Year 889,718,201 856,322,550 33,395,651 3.9% Net Position - End of Year 922,401,211$ 889,718,201 $ 32,683,010 $ 3.7% 230
9 Revenues
Total revenues increased $12.9 million, or 9.2%, in FY 2022-23 from the prior year. Details of changes are as follows:
x Investment Income increased $15.6 million from FY 2021-22. This change is attributed to accounting for unrealized losses on investments at year end. In FY 2021-22, due to rapidly raising interest rates, the city incurred an unrealized lo ss on investments of $15.5 million. In FY 2022-23 this loss was $3.1 million. In addition, the actual Interest revenue earned on investments increased $3.1 million in FY 2022-23, from FY 2021-22.
x Capital Grants and Contributions revenue decreased by $9.4 million, primarily due to the receipt of $10.8 million in impact fees received in FY 2021-22 for a five-story apartment building project, as well as the receipt of three final map fees for neighborhoods in the Dublin Crossing project during FY 2021-22. Due to variations in project construction, it is typical for the receipt of impact fee revenue to fluctuate year over year.
x Property Taxes increased $3.9 million, due to an increase in net assessed valuation of $1.2 billion over the prior year. In addition to the increase in net assessed valuation, the supplemental property tax payments and prior period payments received were $1.7 million over the final budget. x Operating Contributions and Grants increased $3 .8 million due to a $2.2 million increase in Measure BB grants that will be used to support various transportation projects. x Sales Taxes increased $2.6 million as the economy remained strong and household spending continued to increase, despite inflation and the multiple interest rate hikes that occurred during the year.
x Other General Revenue decreased $3.9 million du e to a $5.0 million loan repayment to the Affordable Housing Fund that was received in FY 2021-22 for the Regional Street site acquisition.
Expenses
Total expenses increased $13.6 million, or 12.7%, in FY 2022-23 compared to the prior year. The following factors contributed to the increase:
x General Government expenses increased $3.5 million due to a one-time additional payment of $3.5 million towards the Dougherty Regional Fire Authority (DRFA) unfunded pension liability. DRFA provided fire services to the cities of Dublin and San Ramon prior to the City’s contracting with the Alameda County Fire Department.
x Police Services expenses increased $3.4 million mainly due to cost-of-living adjustments in the Police contract and the use of various grant funds.
x Fire Services expenses increased $1.7 million du e to cost-of-living adjustments and benefit increases provided for in the Fire contract.
x Public Works expenses increased $5.1 million due to increased costs in contracted services for Streets and Maintenance, as the budget for all bu ilding maintenance costs was shifted from Parks and Community Services to Public Works. In ad dition, Public Works had increased expenditures on projects utilizing grants and special revenue funds. 231
10 Revenues and Expenses by Category
The following chart presents the Government-Wide FY 2022-23 revenues. Approximately 76.6% of the total revenue is from three sources: 1) Property taxes, 38.6%; 2) Sales Taxes, 20.0%; and 3) Charges for Services, 18.0%. This is relatively consistent with the prior year.
Charges for Services
27,548,071
18.0%
Operating Contributions &
Grants
11,046,967
7.2%
Capital Grants & Contributions
7,033,281
4.6%
Property Taxes
59,056,139
38.6%
Special Assessments
1,607,028
1.1%
Sales Taxes
30,541,735
20.0%
Other Taxes
8,729,684
5.7%
Investment Income, Unrestricted
2,759,385
1.8%
Intergovernmental, Unrestricted
305,729
0.2%
Other General Revenues
4,355,226
2.8%
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11 The following chart demonstrates the allocation of Go vernment-Wide expenses in FY 2022-23. Of the $120.3 million in total expenses, Public Safety (Police and Fire Services), Public Works, and Transportation are the largest program costs, making up a combined 61.9% of the total, followed by General Government and Parks and Community Services, at 22.5% and 9.3%, respectively.
FUND FINANCIAL STATEMENTS
These statements provide more detailed information about the City’s major funds. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into three categories: Governmental funds, Proprietary funds, and Fiduciary funds.
Governmental funds: Governmental funds are used to account for essentially the same functions reported as governmental activities in the Government-wide financial statements. However, unlike the Government- wide financial statements, Governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the FY. Such information may be useful in evaluating a government’s near-term financing requirements.
Because the focus of Governmental funds is narrow er than that of the Government-wide financial statements, it is useful to compare the informatio n presented for Governmental funds with similar information presented for governmental activities in the Government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions.
Both the Governmental fund balance sheet and Governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between Governmental funds and governmental activities.
General Government
$27,027,922
22.5%
Police $27,849,316
23.1%
Fire Services
$16,308,574
13.6%
Public Works and
Transportation
$30,353,850
25.2%
Parks & Community
Services $11,207,229
9.3%
Community Development
$6,969,557
5.8%
Interest on LongTerm
Debt $583,787
0.5%
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12 The City maintains 85 individual Governmental fu nds. Information is presented separately in the Governmental fund balance sheet and in the Governmental fund statement of revenues, expenditures, and changes in fund balances for the following 10 funds: General Fund; Affordable Housing Fund; four Capital Project Funds (General Improvement Projects; Parks Projects; Streets Projects; Public Art); and four Impact Fee Funds (Public Facilities Impact Fees, Fire Imp act Fees, Traffic Impact Fees, and Dublin Crossings Fund). These funds either qualify as, or the City requested them to be classified as, major funds due to their significance in the financing of new capital assets. Data from the other 75 Governmental funds are combined into a single aggregated presentation, la beled as Non-Major Governmental Funds. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements elsewhere in this report.
The City adopts an annual appropriated budget for each of its Governmental funds. A budgetary comparison statement has been provided for each Governmental fund to demonstrate compliance with this budget.
Proprietary funds: The City maintains one type of Proprietary fund, the internal service fund (ISF), which is an accounting device used to accumulate and allocate costs internally among the City’s various functions and to build up reserves for future replacement of ca pital assets. The City uses five ISFs to account for its fleet of vehicles, equipment, improvements to City buildings, computer systems and certain retiree costs.
Because these services solely benefit the governmental function, they have been included within governmental activities in the Government-wide financial statements.
Proprietary fund financial statements provide the same type of information as the Government-wide financial statements, only in more detail. All five ISF’s are combined into a single, aggregated presentation in the Proprietary fund financial statements. Individual fund data for the ISF’s is provided in the form of combining statements elsewhere in this report.
Fiduciary funds: The Fiduciary fund section consists of the City’s five Custodial Funds. The Community Facilities District (CFD) No. 2015-1 “Dublin Crossing” Improvement Area No. 1, 2, 3 and 4 is an improvement district with outstanding bonds. The City’s role is that of a trustee, or fiduciary, in collecting assessments and remitting bond payments . The City has no legal, contingent or moral obligation for the repayment of this debt and merely ensures that the assets received are used for their intended purposes. The City also provides a similar role for four Geologic Hazard Abatement Districts. California Public Resources Code section 25670 establishes that these Districts are a political subdivision of the State and not an agency or instrumentality of a local agency. The City contractually provides support to collect funds in a fiduciary capacity and may also arrange for activities funded by the Districts.
These fiduciary activities are excluded from the City’s fund financial statements because these assets cannot be used to finance City operations. The activity for these funds, however, is provided for in a separate combining statement contained elsewhere in this report. 234
13 FINANCIAL ANALYSIS OF THE GOVERNMENTAL FUNDS
As of June 30, 2023, the City’s governmental funds reported combined ending fund balances of $360 million, an increase of $14.1 million from the prior year . Table 3 below illustrates the net change in fund balances over the prior year for these funds. A discu ssion of the changes follows the table; individual and non-major funds may be found in the Supplemental.
GENERAL FUND
The General Fund is the chief operating fund of the City. At the end of FY 2022-23, total fund balance was $249.7 million. The unassigned amount of $44.3 million reflects an amount calculated for the unrealized gain on investments combined with the cashflow amount for ongoing operations. The undesignated cash flow reserve was $58.4 million, representing ap proximately 7.0 months of budgeted FY 2023-24 expenditures. The remaining balances are committed or assigned in accordance with the policy adopted by the City Council as discussed in Note 10 to the financial statements.
During FY 2022-23, General Fund revenues exceeded expenditures by $32.9 million, before transfers in/out and recognition of unrealized loss. Compared to the prior year, General Fund operating revenues came in $10.1 million higher, from $114.8 million in FY 2021-22 to $124.9 million in FY 2022-23. Total revenues, including a negative unrealized gain adjustment of $3. 1 million, are $121.8 million, an increase of $22.5 million from the prior year.
Operating expenditures in General Fund departments totaled $92.0 million in FY 2022-23, which was $9.6 million under the final budget (not including tran sfers out) and $11.1 million higher than actual expenditures in the prior year. The increase was primarily due to planned increases in Police Services, Fire Services, and maintenance contract costs; an increase in internal service charges for the City’s new Enterprise Resource Planning system; an increase in Information Services staffing; and an increase in seasonal salaries due to growth in recreation activities.
AFFORDABLE HOUSING FUND
The Affordable Housing Fund is a special revenue fund which accounts for funds associated with affordable housing programs. The fund balance totaled $30.2 m illion as of June 30, 2023, an increase of $330,000 over the prior year, due to an increase in interest income. 235
14 CAPITAL IMPROVEMENTS FUNDS
As previously described, the City has included eight specific capital funds in the information presented as part of the governmental funds. Four of the funds are used to capture expenditures related to active capital projects that are underway. The four funds are: General Improvement Projects, Parks Projects, Streets Projects and Public Art Projects. Public Art Capital Projects Fund is created in FY 2022-23 to accounts for promoting the public interest and general welfare through the acquisition, installation, maintenance, and promotion of public art. Funding for the expenditures in these funds occurs via transfers in from other funds.
The following Capital Impact Fee Funds are also reported:
Public Facilities Fee Fund: This fund includes developer fees collected to develop parks and other public facilities. Total revenue collected in FY 2022-23 was $1 .9 million (including interest earned), a decrease of $8 million from the prior year. FY 2021-22 was higher due to the receipt of $3.9 million from final map fees from the Avalon West Dublin. This revenue is collected when developers process final maps, resulting in payments of parkland in-lieu fees. Due to variations in project construction and acquisition timelines, expenditure patterns will fluctuate. The balance is designated as restricted because there are legal restrictions on its use, and it is not available for general purposes.
Fire Impact Fees: This fund accounts for fees collected from new development to pay for the capital cost associated with the provision of Fire Services. Total revenue collected in FY 2022-23 was approximately $77,000 (including interest earned), about $95,000 lower than was collected in the prior year, due to decrease in developer contributions. With all impact fees revenue collections will fluctuate with the normal variations in development activity. The balance is designated as restricted because there are legal restrictions on its use, and it is not available for general purposes.
Traffic Impact Fee (TIF) Funds: These funds account for fees collected to construct major traffic improvements necessary to facilitate development. Fees are levied and collected on development in proportion to its impact on the transportation needs. Revenue collected in FY 2022-23 totaled $2.7 million (including interest earned), approximately $500,000 higher than was collected in the prior year. The balance is designated as restricted because there are legal restri ctions on its use, and it is not available for general purposes.
Dublin Crossing Fund: This fund accounts for the Development Agreement fee, including Community Benefit payments collected from th e Dublin Crossing project. Revenue collected in FY 2022-23 totaled $252,000 (including interest earned), $3.2 million lower than was collected in the prior year. Revenue collected in FY 2021-22 was higher due to the $3.6 million payment of the Development Agreement fees from Dublin Crossing, LLC.
236
15 NON-MAJOR FUNDS
The City’s non-major funds, which are Special Revenue Funds and Energy Improvement Lease Revenue Bond Capital Projects Fund, are presented in the basic financial statements in the aggregate. Total fund balance decreased $7.3 million in these funds. Based on the designated use of the funds they can be arranged by function as shown in Table 4 below:
The full fund balances of these Special Revenue Funds are legally restricted to use under the programs indicated in the table above and are not available for general purposes. The Energy Improvement Lease Revenue Bond Fund accounts for the proceeds from the City's issuance of lease revenue bonds and their use on energy efficiency capital projects. More information about these aggregated non-major funds can be found in the combining statements following the required supplementary information. 237
16 GENERAL FUND BUDGETARY HIGHLIGHTS
A summary of the budgetary comparison schedule for the General Fund is shown in Table 5 below. The complete schedule, as required, is included in the supplementary information following the notes to the financial statements.
Over the course of the year, revisions were made to the City budget with adjustments that generally fall into one of the following three categories:
x Adjustments to carry over operating budgets from the prior year. x Adjustments to carry over capital expenditure budgets, typically in the form of transfers out to capital improvement funds, from the prior year.
x Adjustments to revenue and expenditure budgets based on current economic conditions, new revenue sources, and/or operational spending needs after the original budget was adopted.
TABLE 5: SUMMARY OF GENERAL FUND ORIGINAL AND FINAL BUDGET AND ACTUAL Period Ending June 30, 2023
Actual Variance from
Original Final Amount Final Budget
REVENUE
Taxes 89,117,445$ 91,417,445$ 96,366,138$ 4,948,693$ Intergovernmental 290,000 336,436 352,165 15,729 Licenses and Permits 351,373 351,373 323,098 (28,275) Charges for Services 6,496,124 6,950,194 8,648,315 1,698,121 Use of Money and Property 2,987,330 3,963,427 4,503,860 540,433 Fines and Forfeitures 85,000 65,000 80,117 15,117 Development Revenue 7,702,334 7,538,555 8,588,005 1,049,450 Other Revenue 1,758,056 1,944,639 2,951,647 1,007,008 Total Revenue 108,787,662 112,567,069 121,813,345 9,246,276
EXPENDITURE
General Government 19,370,611 20,542,477 16,486,507 4,055,970 Police 27,575,941 27,393,215 26,394,595 998,620 Fire 16,277,425 16,424,919 16,116,319 308,600 Public Works 19,299,085 20,724,733 18,129,060 2,595,673 Park and Community Services 8,453,835 8,684,114 8,262,422 421,692 Community Development 6,168,900 6,487,512 5,261,850 1,225,662 Debt Principal 655,000 655,000 655,000 - Interest and Fiscal Charges 678,050 678,050 678,050 - Total Expenditure 98,478,847 101,590,020 91,983,803 9,606,217
OTHER FINANCING SOURCES (USES)
Transfer In - 43,700 29,383 (14,317) Transfer Out (6,607,815) (36,794,681) (3,979,821) 32,814,860 Total Other Financing Source s (Use s) (6,607,815) (36,750,981) (3,950,438) 32,800,543 NET CHANGE IN FUND BALANCE 3,701,000$ (25,773,932)$ 25,879,104 $ 51,653,036 $ Budget Amounts
238
17 In the General Fund total revenues was $9.2 million higher than the final budget as of June 30, 2023, due mainly to the following factors:
x Taxes: $4.9 million higher than budget - Property Tax revenue was $2.6 million over budget in FY 2022-23 due to increase in net assessed valuation of $1.2 billion over the prior year. While current property tax revenue was in line with the final budget, supplemental property tax payments and prior period payments were $1.7 million over the final budget. Sale tax revenue was $1.5 million over budget due continued strong househol d spending, despite the fears of inflation and higher interest rates.
• Charges for Services: $1.7 million higher than budget – This change is attributed primarily to a significant increase in Parks and Recreation prog ramming. In addition, the annual Santa Rita Services payment was approximately $700k higher than the final budget. This revenue is a reimbursement for the cost of Alameda County Fire’s response to service calls from the Santa Rita jail.
x Development Revenue: $1.0 million higher than budget – This category includes revenues associated with permits for new development as well as tenant improvements on current structures.
It also includes fees for City services for zoning and plan checking services. The actual amount is higher than budget due to a higher level of ac tivity on development proj ects than originally anticipated.
General Fund expenditures came in $9.6 million lowe r than the final budget, reflecting overall savings across departments. The following is a discussion of the changes. • General Government: $4.1 million lower than budget. Budget savings were a result of savings in contract services and salaries and benefits. Contract Services expenditures came in lower in FY 2022-23 including library, legal, and multiple other professional servi ces Salary and Benefit savings, were due to City staff vacancies throug hout the year; and the extra unfunded liability contribution to CalPERS being unspent and set aside in a General Fund designated reserve, which has become the City’s practice over the past several years. • Public Works: $2.6 million lower than budget. Budget savings resulted from savings in contract services related to the timing of projects, underspending of utilities due to utilization of less recycled water than anticipated due to the wet an d rainy winter and lower than expected increase in electricity charges, and lastly, Public Works had savings due to a number of vacant positions and the corresponding timing of hirings.
• Community Development: $1.2 million lower than budget. The primary driver of the budget savings for Community Development was lower than expected contract service expenses related to development. These costs fluctuate with the City’s development activities and with the timelines for projects and are routinely carried over to the next budget year until the projects are closed.
Planning staffing costs came in lower than budgeted due to a number of vacant positions and the timing of hiring.
239
18 CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets
The City’s investment in capital assets for its governmental activities as of June 30, 2023 amounts to $568.1 million (net of accumulated depreciation). These capita l assets include land and streets right-of-way, buildings, park and roadway improvements, vehicles a nd other equipment, Construction in Progress, and subscription based I.T. agreements, as summarized in Table 6 below. During FY 2022-23, the City’s investment in capital assets increased by approximately $12.0 million (2.2%), due primarily to additions to Construction in Progress net of the accumulated depreciation, as the City is currently undertaking multiple large Capital Improvement Projects.
The City continued its active Capital Improvement Program with significant progress made on a variety of community assets. A comprehensive list of all CIP ex penditures during FY 2022-23 is presented in Table 7 below (this includes project costs that may not have any impact on changes to capital assets, such as repairs or planning costs). For more detailed inform ation of capital assets balances, see Note 7 to the financial statements.
240
19 TABLE 7: SUMMARY OF CAPITAL IMPROVEMENT PROJECT ACTIVITY As of June 30, 2023
ACTUAL
FY 2022/23
GENERAL IMPROVEMENTS 11,829,805
P olice Services Building 86,178 In Progress Civic Center HVAC and Roof Replacement 37,852 In Progress Cultural Arts Center 3,419,306 In Progress Citywide Energy Improvements 7,521,059 In Progress Civic Center Rehabilitation 267,580 In Progress Dublin Standard Plans Update 54,866 In Progress EV Charging Stations 161,609 In Progress Resiliency and Disaster Preparedness 34,567 In Progress Exterior Painting 113 In Progress Financial System Replacement 237,594 In Progress Audio Visual System Upgrade 8,749 In Progress Library Tenant Improvements 333 In Progress PARKS 4,539,778
Emerald Glen Park Recre & Aquatic 3,056 In Progress Don Biddle Community Park 2,286,703 In Progress Fallon Sports Park Phase 3 1,264,855 In Progress Alamo Creek Pk and Assmt Dist Fence Repl 26,610 In Progress Persimmon Dr Ped Path Rehab 72 In Progress Dublin Heritage Park Cemetery Phase 18,231 In Progress Jordan Ranch Neighborhood Square 207,406 In Progress Wallis Ranch Community Park 175,103 In Progress Iron Horse Nature Park and Open Space 557,154 In Progress Imagine Playground at Dublin Sports 587 In Progress PUBLIC ART 474,814
Camp Parks Sign 101,503 In Progress
Don Biddle Community Park 157,954 In Progress Heritage Park 215,358 In Progress
STREETS 13,053,219
Tassajara Road Realignment and Design 83,457 In Progress Annual Street Resurfacing 3,115,651 In Progress Iron Horse Trail Bridge at Dublin Blvd 6,182,007 In Progress Tassajara Rd Impro - N Dublin to Quarry 426,079 In Progress Dublin Blvd Pavement Rehabilitation 737,000 In Progress Green Stormwater Infrastructure 307,646 In Progress Local Roadway Safety Plan 55,599 In Progress Dublin Blvd Extension 905,195 In Progress Downtown Dublin Street Grid Network 557 In Progress Traffic Signal Re-Lamping 98 In Progress Village Parkway Reconstruction 99,844 In Progress Dublin Ranch Street Light Improvements 40 In Progress Citywide Bicycle & Pedestrian Improvements 127,202 In Progress Intelligent Trans Sys Upgrade 32,752 In Progress Citywide Signal Comm. Upgrade 980,092 In Progress TOTAL 29,897,617
STATUSPROJECT NAME
241
20 ECONOMIC FACTORS AND NEXT YEAR’S BUDGET
Fiscal Year 2022-23 marked a full year of a return to normalcy following the impacts of the worldwide COVID-19 pandemic. The City saw strong results in all revenue categories, particularly in Property Tax and Sales Tax with home prices continuing to remain strong in the East Bay, despite rising interest rates as well as robust household spending. Charges for Services revenue also increased in FY 2022-23 to exceed pre-pandemic levels as recreational classes and activities continued to see strong demand. In the upcoming budget, Staff believe that there will be slight growth in Property Tax and that Sales Tax will level off and possibly decrease slightly before slowly growing again. Given the continued strong demand for Parks and Community Services classes and activities, Charges for Services are projected to continue the growth trend.
On the expenditure side, contracted services costs (Po lice, Fire, and Maintenance) are anticipated to rise between 5-6% in FY 2024-25 and personnel costs (sal aries and benefits) are an ticipated to increase a combined 11.5%.
The City finished FY 2022-23 with a General Fund su rplus and is projecting a surplus in the FY 2023-24 budget, but it is the long-term fiscal sustainability of the City that continues to be at the forefront of budget discussions. Based on conservative estimates, the City is projecting an operating deficit of in FY 2030-31 as the community reaches build-out. Accordingly, in the next budget cycle the City will focus not only on continuing to provide a high level of community ser vices and maintain top-notch facilities, but also on considering long-term budget-balancing solutions and shoring up contingency reserves.
Copies of the adopted Budget and Financial Plan are available online at www.dublin.ca.gov.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of the financial position of the City for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the following address:
City of Dublin, Finance Department, 100 Civic Plaza, Dublin, CA 94568. A copy of this financial report is also located at the City’s website – www.dublin.ca.gov. 242
BASIC
FINANCIAL STATEMENTS
21 243
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22 244
GOVERNMENT-WIDE
FINANCIAL STATEMENTS
23 245
City of Dublin
Government-Wide Statement of Net Position
Primary Government
Governmental
Activities
ASSETS
Current assets:
Cash and investments (Note 3) 390,207,264$
Accounts receivable 14,626,738
Accrued interest receivable 1,613,583
Prepaids 356,016
Total current assets 406,803,601
Noncurrent assets:
Notes receivable (Note 5) 14,541,072
Leases receivable (Note 6) 3,050,260
Net OPEB asset - City of Dublin (Note 13) 2,865,050
Capital assets (non-depreciable) (Note 7):
Land 182,170,145
Streets right of way 37,760,857
Construction in progress 114,604,256
Capital assets (depreciable):
Infrastructures 448,086,898
Building and improvements 118,093,759
Vehicles and equipment 25,709,973
Subscription based I.T. agreements 1,479,702
less accumulated depreciation (359,824,464)
Total capital assets 568,081,126
Total noncurrent assets 588,537,508
Total assets 995,341,109
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources related to pension (Note 12) 9,202,203 Deferred outflows of resources related to OPEB - City of Dublin (Note 13) 3,129,215 Total deferred outflows of resources 12,331,418
June 30, 2023
See accompanying Notes to Basic Financial Statements 24 246 City of Dublin
Government-Wide Statement of Net Position (Continued)
Primary Government
Governmental
Activities
LIABILITIES
Current liabilities:
Accounts payable 22,158,375
Accrued wages and other payroll liabilities 686,335
Deposits payable 5,471,125
Contract retention payable 2,037,552
Other payables 350,000
Unearned revenue 5,229,156
Compensated absences - due within one year 1,093,265
Long-term debt - due within one year (Note 8) 1,061,625 Total current liabilities 38,087,433
Noncurrent liabilities:
Claims payable 310,965
Compensated absences - due in more than one year 208,238 Long-term debt - due in more than one year (Note 8) 19,835,142 Net pension liability (Note 12) 20,630,516
Total noncurrent liabilities 40,984,861
Total liabilities 79,072,294
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases (Note 6) 2,806,542 Deferred inflows of resources related to pension (Note 12) 2,017,827 Deferred inflows of resources related to OPEB - City of Dublin (Note 13) 1,374,653 Total deferred inflows of resources 6,199,022
NET POSITION
Net investment in capital assets 545,146,807
Restricted for:
Public safety 1,260,237
Impact fee projects 66,222,371
Highways and streets 13,049,920
Health and welfare 31,312,765
Culture and leisure 1,688,722
Pension 1,945,132
Total restricted 115,479,147
Unrestricted 261,775,257
922,401,211$ Total net position
June 30, 2023
See accompanying Notes to Basic Financial Statements 25 247 City of Dublin
Government-Wide Statement of Activities
For the year ended June 30, 2023
Net (Expense)
Revenue and
Changes in Net
Position
Operating Capital
Charges for Grants and Grants and Governmental
Functions/Programs Expenses Services Contributions Contributions Total Activities Governmental activities:
General government 27,027,922 $ 10,855,746 $ 878,802 $ 600,000 $ 12,334,548$ (14,693,374) $ Police 27,849,316 253,956 1,178,968 - 1,432,924 (26,416,392) Fire 16,308,574 2,147,455 - - 2,147,455 (14,161,119) Public works and transportation 30,353,850 2,606,030 8,601,066 5,722,988 16,930,084 (13,423,766) Park and community services 11,207,229 5,495,143 80,647 - 5,575,790 (5,631,439) Community development 6,969,557 6,189,741 307,484 710,293 7,207,518 237,961 Interest on long-term debt 583,787 - - - - (583,787) Total governmental activities 120,300,235$ 27,548,071 $ 11,046,967 $ 7,033,281 $ 45,628,319 $ (74,671,916) General revenues:
Taxes:
Property taxes 59,056,139
Special assessment taxes 1,607,028
Sales tax 30,541,735
Other taxes 8,729,684
Total taxes 99,934,586
Intergovernmental, unrestricted 305,729
Miscellaneous 4,355,226
Unrestricted investment earnings 2,759,385
Total general revenues 107,354,926
Change in net position 32,683,010
Net position - beginning of year 889,718,201
Net position - end of year 922,401,211$
Program Revenues
See accompanying Notes to Basic Financial Statements 26 248 FUND
FINANCIAL STATEMENTS
Governmental Fund Financial Statements
Proprietary Fund Financial Statements
Fiduciary Fund Financial Statements
27 249
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28 250
The funds described below were determined to be Major Funds by the City. Individual non-major funds may be found in the supplemental.
The General Fund - is the governments primary operating fund. It accounts for all financial resources of the City, except those required to be accounted for in another fund.
The Affordable Housing Special Revenue Fund - is used to account for in-lieu fees received from developers of properties, which can only be used for the design, development, and construction of citywide affordable housing projects and/or support of affordable housing programs.
The General Improvements Projects Capital Projects Fund - is used to manage the programming of funds and activities associated with major Capital Improvements Projects. The fund accumulates resources for capital expenditures and utilizes those resources to support projects that are general in natu re and are not Streets, Parks, or Community Improvements Projects.
The Parks Projects Capital Projects Fund - is used to manage the programming of funds and activities associated with major Capital Improvements Projects. The fund Accumulates resources for capital expenditures and utilizes those resources to support projects that would construct, improve or enhance the City's parks and facilities.
The Streets Projects Capital Projects Fund - is used to manage the programming of fund and activities associated with major Capital Improvements Projects. The fund accumulates resources for capital expenditures and utilizes those resources to support projects that would construct, improve, or enhance the City's trails, highways, streets, roads, bridges, as well as street lighting and drain systems.
The Public Art Capital Projects Fund - The Public Art Fund was created following the adoption of Dublin Municipal Code
8.58 “Public Art Program Contribution.” The purpose of the adoption of the ordinance, and Public Art Fund fund is to:
promote the public interest and general welfare through the acquisition, installation, maintenance and promotion of public art; establish requirements and procedures for developer contributions to public art; provide funding to support the acquisition, installation, maintenance and promotion of public art; and implement the goals of the Public Art Master Plan.
Bi-Annually Staff identifies and develops Public Art projects that will be funded utilizing the Public Art Fund. These projects are included in the City’s Capital Improvement Program and subject to City Council approval. Since inception, the Public Art Fund has been funded entirely by developer contributions that are subject to the Public Art Program Contribution ordinance.
The Public Facilities Impact Fees Capital Projects Fund - is used to account for fees received from developers of properties, which can only be used for the design, development and construction of new public facilities within the City.
The Fire Impact Fees Capital Projects Fund - is used to account for impact fees received from developers of properties, which can only be used for the design, development and construction of fire capital expansion projects within the City.
The Traffic Impact Fees Capital Projects Fund - is used to account for impact fees received from developers of properties, which can only be used for the design, development and construction of street and highway projects which serve as part of the City's transportation network.
The Dublin Crossing Contribution Capital Projects Fund - accounts for community benefit payments specific to the Dublin Crossing Project, separate from any developer impact fees generated by the project.
GOVERNMENTAL FUND FINANCIAL STATEMENTS
29 251
City of Dublin
Balance Sheet
Governmental Funds
June 30, 2023
Special
Revenue Fund
General
General Affordabl e Improvement Park s Streets
Fund Housin g Projects Projects Projects
ASSETS
Cash and investments 234,690,307$ 15,672,303 $ 3,944,145 $ 816,630 $ 2,119,877 $ Accounts receivable 11,760,829 165,655 - - -
Accrued interest receivable 1,613,583----
Due from other funds 22,640,194----
Notes receivable - 14,454,615 - - -
Leases receivable 3,050,260----
Advances to other funds 858,747 ----
Prepaids 4,859----
Total assets 274,618,779$ 30,292,573$ 3,944,145$ 816,630$ 2,119,877$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts payable 15,353,648$ 38,147 $ 2,614,015 $ 598,864 $ 1,618,960 $ Accrued wages and other payroll liabilities 650,016 11,402 4,400 7,258 7,135 Deposits payable 4,108,502----
Contract retention payable - - 1,325,730 210,508 493,782 Other payables 350,000 ----
Unearned revenue 1,613,461 ----
Due to other funds -----
Advances from other funds -----
Total liabilities 22,075,627 49,549 3,944,145 816,630 2,119,877 Deferred inflows of resources:
Related to leases 2,806,542----
Total deferred inflows of resources 2,806,542 - - - - Fund Balances:
Nonspendable 4,859----
Restricted 4,324,132 30,243,024 - - -
Committed 76,016,419----
Assigned 125,043,298 ----
Unassigned 44,347,902----
Total fund balances 249,736,610 30,243,024 - - - Total liabilities, deferred inflows of
resources, and fund balances 274,618,779$ 30,292,573$ 3,944,145$ 816,630$ 2,119,877$ Capital Project Funds
See accompanying Notes to Basic Financial Statements 30 252 City of Dublin
Balance Sheet (Continued)
Governmental Funds
June 30, 2023
Public Dublin
Facilities Fire Impact Traffic Impact Crossin g
Public Art Impact Fee s Fees Fees Contribution
ASSETS
Cash and investments 31,715$ 36,980,037$ 134,609$ 30,653,918$ 12,192,262$ Accounts receivable - - - 181,110 -
Accrued interest receivable -----
Due from other funds -----
Notes receivable -----
Leases receivable -----
Advances to other funds -----
Prepaids -----
Total assets 31,715$ 36,980,037$ 134,609$ 30,835,028$ 12,192,262$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts payable 31,572$ 2,140$ -$ 704,404$ -$ Accrued wages and other payroll liabilities 143 - - - - Deposits payable - - - 248 6,427
Contract retention payable -----
Other payables -----
Unearned revenue -----
Due to other funds - 20,238,774 - - -
Advances from other funds - 858,747 - - -
Total liabilities 31,715 21,099,661 - 704,652 6,427 Deferred inflows of resources:
Related to leases -----
Total deferred inflows of resources - - - - - Fund Balances:
Nonspendable -----
Restricted - 15,880,376 134,609 30,130,376 12,185,835
Committed - - - - -
Assigned - - - - -
Unassigned - - - - -
Total fund balances - 15,880,376 134,609 30,130,376 12,185,835 Total liabilities, deferred inflows of
resources, and fund balances 31,715$ 36,980,037$ 134,609$ 30,835,028$ 12,192,262$ Capital Project Funds
See accompanying Notes to Basic Financial Statements 31 253 City of Dublin
Balance Sheet (Continued)
Governmental Funds
June 30, 2023
Other Total
Governmental Governmental
Funds Funds
ASSETS
Cash and investments 27,096,047$ 364,331,850 $
Accounts receivable 1,937,481 14,045,075
Accrued interest receivable - 1,613,583
Due from other funds - 22,640,194
Notes receivable 86,457 14,541,072
Leases receivable - 3,050,260
Advances to other funds - 858,747
Prepaids -4 ,859
Total assets 29,119,985$ 421,085,640$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities:
Accounts payable 755,710$ 21,717,460 $
Accrued wages and other payroll liabilities 5,981 686,335 Deposits payable 1,355,948 5,471,125
Contract retention payable 7,532 2,037,552
Other payables - 350,000
Unearned revenue 3,615,695 5,229,156
Due to other funds 1,674,328 21,913,102
Advances from other funds - 858,747
Total liabilities 7,415,194 58,263,477
Deferred inflows of resources:
Related to leases - 2,806,542
Total deferred inflows of resources - 2,806,542 Fund Balances:
Nonspendable -4 ,859
Restricted 22,580,795 115,479,147
Committed - 76,016,419
Assigned - 125,043,298
Unassigned (876,004) 43,471,898
Total fund balances 21,704,791 360,015,621
Total liabilities, deferred inflows of
resources, and fund balances 29,119,985$ 421,085,640$ See accompanying Notes to Basic Financial Statements 32 254 Reconciliation of the Governmental Funds Balance Sheet
Total Fund Balances - Total Governmental Funds 360,015,621$ Capital assets used in governmental activities were not current financial resources.
Therefore, they were not reported in the Governmental Funds Balance Sheet. Except for the internal service funds reported below, the capital assets were adjusted as follows:
Government-
Wide Statement
of Net Position
Internal Service
Funds Total
Non-depreciable 334,535,258$ (18,132,978 )$ 316,402,280 Depreciable, net 233,545,868 (23,277,775 ) 210,268,093
Total capital assets 568,081,126$ (41,410,753)$ 526,670,373 Internal service funds were used by management to charge the costs of certain activities, such as insurance, to individual funds. The assets and liabilities of the Internal service funds were included in governmental activities in the Government- Wide Statement of Net Position. 65,829,922
In th
e Government-Wide Financial Statements, deferred employer contributions for pension and OPEB, certain differences between actuarial estimates and actual results, and other adjustments resulting from changes in assumptions and benefits are deferred in the current year.
Deferred outflows of resources related to pension 9,202,203 Deferred outflows of resources related to OPEB - City of Dublin 3,129,215 Deferred inflows of resources related to pension (2,017,827 )
Deferred inflows of resources related to OPEB - City of Dublin (1,374,653) Long-term liabilities were not due and payable in the current period. Therefore, they were not reported in the Governmental Funds Balance Sheet.
Government-
Wide Statement
of Net Position
Internal Service
Funds Total
Compensated absences - due within one year (1,093,265) $ - (1,093,265) Claims payable (310,965) - (310,965) Compensated absences - due in more than one year (208,238) - (208,238) Long term debt - due within one year (1,061,625) 381,625 (680,000) Long term debt - due in more than one year (19,835,142) 839,433 (18,995,709) Net OPEB asset - City of Dublin 2,865,050 - 2,865,050 Net pension liabilit
y (20,630,516) - (20,630,516 )
Total long-term liabilities (40,274,701)$ 1,221,058$ (39,053,643) Net Position of Governmental Activities 922,401,211$
Amounts reported for governmental activities in the Statement of Net Position were different from those reported in the Governmental Funds above because of the following:
City of Dublin
to the Government-Wide Statement of Net Position
June 30, 2023
See accompanying Notes to Basic Financial Statements 33 255 City of Dublin
Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
For the year ended June 30, 2023
Special
Revenue Fund
General
General Affordable Improvement Parks Streets
Fund Housin g Projects Projects Projects
REVENUES:
Property taxes 59,056,139 $ - $ - $ - $ - $ Sales tax 28,580,315 - - - - Other taxes 8,729,684 - - - - Intergovernmental 352,165 - - - - Licenses and permits 323,098 - - - - Charges for service 8,648,315 55,298 - - - Interest income 5,363,445 315,867 - - - Use of property 2,193,822 371,220 - - - Unrealized gains (losses) on investments (3,053,407) - - - - Fines and forfeitures 80,117 - - - - Development revenue 8,588,005 - - - - Other revenue 2,951,647 - - - - Special assessments - - - - - Total revenues 121,813,345 742,385 - - - EXPENDITURES:
Current:
General government 16,486,507 16,128 - - - Police 26,394,595 - - - - Fire 16,116,319 - - - - Public works and transportation 18,129,060 - - - - Park and community services 8,262,422 - - - - Community development 5,261,850 396,549 - - - Capital outlay:
General improvements - - 11,829,805 - - Parks - - - 4,539,778 - Public art - - - - - Streets - - - - 13,053,219 Debt service:
Principal 655,000 - - - - Interest and fiscal charges 678,050 - - - - Total expenditures 91,983,803 412,677 11,829,805 4,539,778 13,053,219 REVENUES OVER (UNDER) EXPENDITURES 29,829,542 329,708 (11,829,805) (4,539,778) (13,053,219) OTHER FINANCING SOURCES (USES):
Transfers in 29,383 - 11,829,805 4,539,778 13,053,219 Transfers out (3,979,821) - - - - Total other financing sources (uses) (3,950,438) - 11,829,805 4,539,778 13,053,219 Net change in fund balances 25,879,104 329,708 - - - FUND BALANCES (DEFICITS):
Beginning of year 223,857,506 29,913,316 - - - End of year 249,736,610$ 30,243,024$ -$ -$ -$ Capital Project Funds
See accompanying Notes to Basic Financial Statements 34 256 City of Dublin
Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
Public Dublin
Facilities Fire Impact Traffic Impact Crossing
Public Art Impact Fee s Fees Fees Contribution
REVENUES:
Property taxes - $ - $ - $ -$ -$ Sales tax - - - - - Other taxes - - - - - Intergovernmental - - - - - Licenses and permits - - - - - Charges for service - - - - - Interest income - 721,702 1,609 580,265 251,614 Use of property - - - - - Unrealized gains (losses) on investments - - - - - Fines and forfeitures - - - - - Development revenue - 1,212,005 75,293 1,559,605 - Other revenue - - - 600,000 - Special assessments - - - - - Total revenues - 1,933,707 76,902 2,739,870 251,614 EXPENDITURES:
Current:
General government - 12,250 200,000 3,059 - Police - - - - - Fire - - - - - Public works and transportation - - - - - Park and community services - - - - - Community development - - - - - Capital outlay:
General improvements - - - - - Parks - - - - - Public art 474,814 - - - - Streets - - - - - Debt service:
Principal - - - - - Interest and fiscal charges - - - - - Total expenditures 474,814 12,250 200,000 3,059 - REVENUES OVER (UNDER) EXPENDITURES (474,814) 1,921,457 (123,098) 2,736,811 251,614 OTHER FINANCING SOURCES (USES):
Transfers in 474,814 - - - - Transfers out - (7,356,763) - (1,788,206) (450,000) Total other financing sources (uses) 474,814 (7,356,763) - (1,788,206) (450,000) Net change in fund balances - (5,435,306) (123,098) 948,605 (198,386) FUND BALANCES (DEFICITS):
Beginning of year - 21,315,682 257,707 29,181,771 12,384,221 End of year -$ 15,880,376$ 134,609$ 30,130,376$ 12,185,835$ Capital Project Funds
See accompanying Notes to Basic Financial Statements 35 257 City of Dublin
Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
Other Total
Governmental Governmental
Funds Funds
REVENUES:
Property taxes - $ 59,056,139$
Sales tax - 28,580,315
Other taxes - 8,729,684
Intergovernmental 13,935,558 14,287,723
Licenses and permits - 323,098 Charges for service 8,373,761 17,077,374
Interest income 679,625 7,914,127
Use of property - 2,565,042
Unrealized gains (losses) on investments - (3,053,407) Fines and forfeitures 127,320 207,437
Development revenue 8,766 11,443,674
Other revenue 181,558 3,733,205
Special assessments 1,607,027 1,607,027
Total revenues 24,913,615 152,471,438
EXPENDITURES:
Current:
General government 9,875,707 26,593,651
Police 1,115,406 27,510,001
Fire 181,488 16,297,807
Public works and transportation 2,470,450 20,599,510 Park and community services 39,001 8,301,423 Community development 223,492 5,881,891
Capital outlay:
General improvements - 11,829,805 Parks - 4,539,778
Public art - 474,814
Streets - 13,053,219
Debt service:
Principal - 655,000
Interest and fiscal charges - 678,050 Total expenditures 13,905,544 136,414,949
REVENUES OVER (UNDER) EXPENDITURES 11,008,071 16,056,489 OTHER FINANCING SOURCES (USES):
Transfers in 23,378 29,950,377
Transfers out (18,337,622) (31,912,412)
Total other financing sources (uses) (18,314,244) (1,962,035) Net change in fund balances (7,306,173) 14,094,454 FUND BALANCES (DEFICITS):
Beginning of year 29,010,964 345,921,167
End of year 21,704,791 $ 360,015,621 $
See accompanying Notes to Basic Financial Statements 36 258 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes Net Change in Fund Balances - Total Governmental Funds 14,094,454$ Governmental funds reported capital outlay as expenditures. However, in the Government-Wide Statement of Activities, the cost of those assets was allocated over their estimated lives as depreciation expense. This was the amount of capital assets recorded in the current period, net of Internal Service Funds. 26,930,787 Depreciation expens e on capital asset s was reported in th e Government-Wide Statement of Activities , but did not require the use of current financial resources. Therefore, depreciation expense was not reported as expenditures in the governmental funds, net of internal service funds of $3,185,955. (12,492,019) Accrued com
pensated leave payments were reported as expenditures in the governmental funds, however expense is recognized in the Government-Wide Statement of Activities based on earned leave accruals. 6,538 Debt proceeds provide current financial resource s to governmental funds , but issuing debt increased long- term liabilities in the Government-Wide Statement of Net Position. Repayment of debt was an expenditure in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement of Net Position.
Long-term debt repayment
s 655,000
Amortization of premium on long-term debt 123,856
Claim payment s are recorded a s expenditures in th e governmental funds , however claim expens e is recognized as claims are incurred on the Government-Wide Statement of Activities 6,784 Current year employer pension and OPEB contribution s are recorded as expenditures in the governmental funds, however, these amounts are reported as a deferred outflow of resources in the Government-Wide Statement of Net Position. 2,478,932
Pension expens
e is reported in th e Government-Wide Statement of Activitie s does not requir e the use of current financial resources, and therefore is not reported as expenditures in governmental funds. (1,358,055) OPEB expens e is reported in th e Government-Wide Statement of Activitie s does not requir e the use of current financial resources, and therefore is not reported as expenditures in governmental funds. 122,895 Internal service funds were used by management to charge the costs of certain activities, such as insurance and fleet management, to individual funds. The net revenue of the internal service funds was reported with governmental activities. 2,113,838
Change in Net Position of Governmental Activities 32,683,010$ Amounts reported for governmental activities in the Statement of Activities were different because:
City of Dublin
in Fund Balances to the Government-Wide Statement of Activities For the year ended June 30, 2023
See accompanying Notes to Basic Financial Statements 37 259 This page intentionally left blank
38 260
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual General Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Property taxes 55,163,000$ 56,463,000$ 59,056,139$ 2,593,139$ Sales tax 25,994,445 26,994,445 28,580,315 1,585,870 Other taxes 7,960,000 7,960,000 8,729,684 769,684 Intergovernmental 290,000 336,436 352,165 15,729 Licenses and permits 351,373 351,373 323,098 (28,275) Charges for services 6,496,124 6,950,194 8,648,315 1,698,121 Investment income (loss) 1,510,000 2,310,000 5,363,445 3,053,445 Use of property 1,477,330 1,653,427 2,193,822 540,395 Unrealized gains (losses) on investments - - (3,053,407) (3,053,407) Fines and forfeitures 85,000 65,000 80,117 15,117 Development revenue 7,702,334 7,538,555 8,588,005 1,049,450 Other revenues 1,758,056 1,944,639 2,951,647 1,007,008 Total revenues 108,787,662 112,567,069 121,813,345 9,246,276 EXPENDITURES:
Current:
General government 19,370,611 20,542,477 16,486,507 4,055,970 Police 27,575,941 27,393,215 26,394,595 998,620 Fire 16,277,425 16,424,919 16,116,319 308,600 Public works and transportation 19,299,085 20,724,733 18,129,060 2,595,673 Parks and community services 8,453,835 8,684,114 8,262,422 421,692 Community development 6,168,900 6,487,512 5,261,850 1,225,662 Debt service:
Principal 655,000 655,000 655,000 - Interest and fiscal charges 678,050 678,050 678,050 - Total expenditures 98,478,847 101,590,020 91,983,803 9,606,217 REVENUES OVER (UNDER) EXPENDITURES 10,308,815 10,977,049 29,829,542 18,852,493
OTHER FINANCING SOURCES (USES):
Transfers in - 43,700 29,383 (14,317) Transfers (out) (6,607,815) (36,794,681) (3,979,821) 32,814,860 Total other financing sources (uses) (6,607,815) (36,750,981) (3,950,438) 32,800,543 Net change in fund balance 3,701,000$ (25,773,932)$ 25,879,104 51,653,036$ FUND BALANCE:
Beginning of year 223,857,506
End of year 249,736,610$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
See accompanying Notes to Basic Financial Statements 39 261 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Affordable Housing
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Charges for services 80,855$ 80,855$ 55,298$ (25,557)$ Interest 125,000 125,000 315,867 190,867 Use of property - - 371,220 371,220 Development revenue 12,972 12,972 - (12,972) Total revenues 218,827 218,827 742,385 523,558 EXPENDITURES:
Current:
General government 60,000 60,000 16,128 43,872 Community development 808,279 1,808,279 396,549 1,411,730 Total expenditures 868,279 1,868,279 412,677 1,455,602 REVENUES OVER (UNDER) EXPENDITURES (649,452) (1,649,452) 329,708 1,979,160 Net change in fund balance (649,452)$ (1,649,452)$ 329,708 1,979,160$ FUND BALANCE:
Beginning of year 29,913,316
End of year 30,243,024$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
See accompanying Notes to Basic Financial Statements 40 262 Proprietary funds account for City operation financed and operated in a manner similar to a private business enterprise. The intent of the City is that the cost of providing good and services be financed primarily through user charges.
PROPRIETARY FUND FINANCIAL STATEMENTS
41 263
City of Dublin
Statement of Net Position
Proprietary Funds
June 30, 2023
Governmental
Activities-
Internal Service
Funds
ASSETS
Current assets:
Cash and investments 25,875,414 $
Accounts receivable 581,663
Prepaids and other 351,157
Total current assets 26,808,234
Noncurrent assets:
Capital Assets:
Land 10,774,792
Construction in progress 7,358,186
Infrastructure 745,014
Building and improvements 63,219,783
Vehicles and equipment 10,871,852
Subscription based I.T. agreements 1,479,702
Less accumulated depreciation (53,038,576)
Net capital assets 41,410,753
Total assets 68,218,987
LIABILITIES
Current liabilities:
Accounts payable and accruals 440,915
Due to other funds 727,092
SBITA liabilities, due in one year 381,625
Total current liabilities 1,549,632
Long-term liabilities:
SBITA liabilities, due in more than one year 839,433
Total long-term liabilities 839,433
Total liabilities 2,389,065
NET POSITION
Net investment in capital assets 40,189,695
Unrestricted 25,640,227
Total net position 65,829,922$
See accompanying Notes to Basic Financial Statements 42 264 City of Dublin
Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary Funds
For the year ended June 30, 2023
Governmental
Activities-
Internal Service
Funds
OPERATING REVENUES:
Charges for services 5,026,703$
Other revenue 1,062,937
Total operating revenues 6,089,640
OPERATING EXPENSES:
Supplies and services 2,317,499
Retiree health premiums 916,597
Depreciation 3,185,955
Total operating expenses 6,420,051
OPERATING INCOME (LOSS) (330,411)
NONOPERATING REVENUES (EXPENSES):
Interest income 511,807
Total nonoperating revenues (expenses) 482,214
INCOME (LOSS) BEFORE CONTRIBUTIONS AND TRANSFERS: 151,803 Transfers in 2,000,000
Transfers (out) (37,965)
Total transfers 1,962,035
Change in net position 2,113,838
NET POSITION:
Beginning of year 63,716,084
End of year 65,829,922$
See accompanying Notes to Basic Financial Statements 43 265 City of Dublin
Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2023
Governmental
Activities-
Internal Service
Funds
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from other funds 6,723,546$
Payments to suppliers and service providers (5,190,041) Other revenues 1,062,937
Net cash provided by (used in) operating activities 2,596,442 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
Cash receipts from other funds 2,235,695
Cash disbursements to other funds 183,479
Cash provided by (used in) noncapital financing activities 2,419,174 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:
Purchase of capital assets (748,328)
Cash used in capital and related financing activities (1,036,565) CASH FLOWS FROM INVESTING ACTIVITIES:
Interest received 511,807
Cash flows provided b
y (used in) investing activities 511,807
Net Cash Flows 4,490,858
CASH AND CASH EQUIVALENTS - Beginning of year 21,384,556 CASH AND CASH EQUIVALENTS - End of year 25,875,414$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Operating income (loss) (330,411)$
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation 3,185,955
Change in assets and liabilities
Accounts receivable (470,744)
Prepaids (108,244)
Accounts payable and accruals 319,886
Net cash provided by (used in) operating activities 2,596,442$ See accompanying Notes to Basic Financial Statements 44 266
FIDUCIARY FUND FINANCIAL STATEMENTS
Custodial funds are used to account for fiduciary activities not requird to be reported in investment trust, pension trust, or private-purpose trust funds. The financial activities of these funds are excluded from the entity-wide financial statements, but are presented in separate Fiduciary Fund financial statements. 45 267
City of Dublin
Statement of Fiduciary Net Position
Fiduciary Fund
June 30, 2023
Custodial
Funds
ASSETS
Cash and investments 37,081,703 $
Accounts receivable 21,270
Total assets 37,102,973
LIABILITIES
Accounts payable 57,203
Total liabilities 57,203
NET POSITION
Restricted for:
Individuals, organizations, and
other governments 37,045,770
Total net position 37,045,770$
See accompanying Notes to Basic Financial Statements 46 268 City of Dublin
Statement of Changes in Fiduciary Net Position
Fiduciary Fund
For the year ended June 30, 2023
Custodial
Funds
ADDITIONS:
Special assessments 8,839,469 $
Investment income 861,738
Proceeds from bonds 21,371,557
Property tax distribution 27,826
Other 52,500
Total additions 31,153,090
DEDUCTIONS:
Administration 33,580,624
Project payments 520,209
Payments of bonds principal 370,000
Interest expense 4,890,279
Total deductions 39,361,112
Change in net position (8,208,022)
NET POSITION:
Beginning of year 45,253,792
End of year 37,045,770$
See accompanying Notes to Basic Financial Statements 47 269 This page intentionally left blank
48 270
49 NOTES TO BASIC
FINANCIAL STATEMENTS
271
50 This page intentionally left blank
272
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
51 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements and accounting policies of th e City conform with generally accepted accounting principles applicable to governments. The Govern mental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. Significant accounting policies are summarized below:
A. Reporting Entity
The City is a residential community with a significan t regional commercial base, located in the TriValley area of Alameda County, California at the crossroads of Interstate Freeways 580 and 680. The City was incorporated as a municipal corporation on February 1, 1982. The total population estimate published by the California Department of Finance for January 1, 2023 was 71,750. This figure includes prisoners housed at the Alameda County Sheriff’s Department Santa Rita Jail and at the Federal Correctional Institute. The City of Dublin was ranked based on total population at #121 out of 482 cities within California.
The City operates under the Council-Manager form of government, with the Mayor and four Council members served by a full-time City Manager and staff. At June 30, 2023, the City’s staff comprised 102 authorized permanent employees wh o were responsible for City-provided services. The City provides many traditional municipal services through contracts with both public and private agencies.
Approximately 159.46 contract employees provide a variet y of municipal services from City facilities. As of June 30, 2023, the City had approximately 233 temporary and seasonal personnel that were on active payroll status.
B. Basis of Presentation
The City's Basic Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America. The Government Accounting Standards Board is the acknowledged standard setting body for establishing accounting and financial reporting standards followed by governmental entities in the U.S.A. Th ese Standards require that the financial statements described below be presented.
Government-wide Statements:
The Statement of Net Position and the Statement of Activities display information about the primary government (the City). These statements include the financial activities of the overall City government, except for fiduciary activities. Governmental ac tivities generally are financed through taxes, intergovernmental revenues, and other nonexchange transactions.
The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the City's governmental activities. Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly iden tifiable to a particular function. Program revenues include (a) charges paid by the recipients of goods or services offered by the programs, (b) grants and contributions that are restricted to meeting the operational needs of a particular program and (c) fees, grants and contributions that are restricted to financing the acquisition or construction of capital assets. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues. 273
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
52 1. SUMMARY OF SIGNIFICANT AC COUNTING POLICIES, Continued B. Basis of Presentation, Continued
Fund Financial Statements:
The fund financial statements provide information ab out the City's funds, including fiduciary funds.
Separate statements for each fund category - governmental, proprietary, and fiduciary - are presented. The emphasis of fund financial statements is on major individual governmental funds, each of which is displayed in a separate column. All remaining gove rnmental funds are aggregated and reported as nonmajor funds.
Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Nonope rating revenues, such as subsidies and investment earnings, result from nonexchange transactions or ancillary activities.
C. Major Funds
Major funds are defined as funds that have either assets, liabilities, revenues or expenditures/expenses equal to ten percent of their fund-type total and five percent of the grand total. The General Fund is always a major fund. The City may also select other funds it believes should be presented as major funds.
The City reported the following major governmental funds in the accompanying financial statements:
The General Fund - is the government’s primary operating fund. It accounts for all financial resources of the City, except those required to be accounted for in another fund.
The Affordable Housing Special Revenue Fund - is used to account for in-lieu fees received from developers of properties, which can only be used for the design, development, and construction of citywide affordable housing projects and/or support of affordable housing programs.
The General Improvements Projects Capital Projects Fund - is used to manage the programming of funds and activities associated with major Capital Impr ovements Projects. The Fund accumulates resources for capital expenditures an d utilizes those resources to support projects that are general in nature and are not Streets, Parks, or Community Improvements projects.
The Parks Projects Capital Projects Fund - is used to manage the programming of funds and activities associated with major Capital Improvements Projects. The Fund accumulates resources for capital expenditures and utilizes those resources to support pr ojects that would construct, improve, or enhance the City's parks and facilities.
The Streets Projects Capital Projects Fund - is used to manage the programming of funds and activities associated with major Capital Improvements Projects. The Fund accumulates resources for capital expenditures and utilizes those resources to support pr ojects that would construct, improve, or enhance the City's trails, highways, streets, roads, bridges, as well as street lighting, and storm drain systems. 274
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
53 1. SUMMARY OF SIGNIFICANT AC COUNTING POLICIES, Continued C. Major Funds, Continued
The Public Art Capital Projects Fund - The Public Art Fund was created following the adoption of Dublin Municipal Code 8.58 “Public Art Program Cont ribution.” The purpose of the adoption of the ordinance, and Public Art Fund fund is to: promote the public interest and general welfare through the acquisition, installation, maintenance and promot ion of public art; establish requirements and procedures for developer contributions to public art; provide funding to support the acquisition, installation, maintenance and promotion of public art; and implement the goals of the Public Art Master Plan.
Bi-Annually Staff identifies and develops Public Art projects that will be funded utilizing the Public Art Fund. These projects are included in the City’s Capital Improvement Program and subject to City Council approval. Since inception, the Public Ar t Fund has been funded entirely by developer contributions that are subject to the Public Art Program Contribution ordinance.
The Public Facilities Impact Fees Capital Projects Fund - is used to account for impact fees received from developers of properties, which can only be used for the design, development, and construction of new public facilities within the City.
The Fire Impact Fees Capital Projects Fund - is used to account for impact fees received from developers of properties, which can only be used for the desi gn, development, and construction of fire capital expansion projects within the City.
The Traffic Impact Fees Capital Projects Fund - is used to account for impact fees received from developers of properties, which can only be used for the design, development and construction of street and highway projects which serve as part of the City's transportation network.
The Dublin Crossing Contribution Capital Projects Fund - accounts for community benefit payments specific to the Dublin Crossings Project, separate from any developer impact fees generated by the project.
The City also reports the following fund types:
Internal Service Funds - Account for replacement of assets an d internal charges collected for the purpose of funding retirement plan side-fund obligations, post-retirement healthcare activities, and the financing and funding for the replacements of vehicle, building and equipment, various information technology projects, and the energy efficiency capital lease project. These activities are provided to City departments on a cost reimbursement basis.
Fiduciary Funds - The City maintains one type of Fiduciar y Funds - Custodial Funds. The financial activities of these funds are excluded from the Government-wide financial statements, but are presented in separate Fiduciary Fund financial statemen ts. Custodial Funds use the economic resources measurement focus and are used to account for assets held by the City as an agent for the following purposes:
275
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
54 1. SUMMARY OF SIGNIFICANT AC COUNTING POLICIES, Continued C. Major Funds, Continued
The Dublin Boulevard Extension Assessment District is a Custodial Fund, which is used to account for amounts held for debt service on the Dublin Boulevar d Extension Project. The City is not responsible for payment of the bonds and acts only as an agent to collect assessments, pay bondholders, and initiate foreclosure proceedings.
The Fallon Village, Schaefer Ranch, Fallon Village Annex/Jordan Ranch, and Fallon Crossing Geological Hazard Abatement Districts (GHAD) are Custodial Funds. Each fiscal year, the District Engineer prepares an Engineer's Report which includes the budget for the GHADs for that year. The annual budget consists of regular site monitoring, annual inspections, contract services for annual mitigation and repairs, and administrative costs. The funds collected through special assessment are placed into a dedicated reserve fund. The reserve fund is set aside to b e u s e d t o m i t i g a t e a n d r e p a i r l a r g e , g e o l o g i c h a z a r d s , s u c h a s landsides in the respective Subdivisions.
The Dublin Crossing Community Facilities District (CFD) No. 2015-1 (Dublin Crossing) Fund, which is used to account for bond issuances to finance capital facilities and infrastructure within the CFD secured by the collection of Special Taxes on real property within the CFD. CFD bonds are not debt obligations of the City.
D. Basis of Accounting
The government-wide and proprietary financial statements are reported using the economic resources measurement focus and the full accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incu rred, regardless of when the related cash flows take place.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are payments-in-lieu of taxes and other charges between the government's business-type activities and various other functions of the government. Elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned.
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided, 2) operating grants and cont ributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.
Those revenues susceptible to accrual at both the City-wide and Fund level are property, sales and franchise taxes, current service charges, and interest revenue. Fines and licenses and permits are not susceptible to accrual because they are not measurable until received in cash. 276
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
55 1. SUMMARY OF SIGNIFICANT AC COUNTING POLICIES, Continued D. Basis of Accounting, Continued
Governmental funds are reported using the curren t financial resources measurement focus and the modified accrual basis of accounting. Under this me thod, revenues are recognized when measurable and available. The City considers all revenues reported in the governmental funds to be available if the revenues are collected within sixty days after year-end. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on ge neral long-term debt, claims and judgments, and compensated absences, which are recognized as expenditures to the extent they have matured.
Governmental capital asset acquisitio ns are reported as expenditures in governmental funds. Proceeds of governmental long-term debt and acquisitions under capital leases are reported as other financing sources.
Non-exchange transactions, in which the City gives or receives value without directly receiving or giving equal value in exchange, include taxes, grants, entitl ements, and donations. On the accrual basis, revenue from taxes is recognized in the fiscal year for which the taxes are levied or assessed. Revenues from grants, entitlements, and donations are recognized in the fiscal year in which all eligibility requirements have been satisfied.
Grant revenues are recognized in the fiscal year in which all eligibility requir ements are met. Under the terms of grant agreements, the City may fund certain programs with a combination of cost-reimbursement grants, categorical block grants, and general revenues. Certain indirect costs are included in program expenses reported for individual functions and activities.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from provid ing services and producing and delivering goods in connection with a proprietary fund's principal ongoin g operations. The principal operating revenues of the City's internal service funds are charges to customers for sales and services. Operating expenses for internal service funds include the cost of sales and services, administrative expenses, an d depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.
E. Cash, Cash Equivalents, and Investments
The City pools cash resources from all funds in order to facilitate the management of cash. The balance in the pooled cash account is available to meet current operating requirements. Cash in excess of current requirements is invested in various interest-bearing accounts and other investments for varying terms.
In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB No. 3) , certain disclosure requirements for Deposits and Investment Risks were made in the following areas:
• Interest Rate Risk
•C r e d i t R i s k
o Overall
o Custodial Credit Risk
o Concentrations of Credit Risk
277
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
56 1. SUMMARY OF SIGNIFICANT AC COUNTING POLICIES, Continued E. Cash, Cash Equivalents, and Investments, Continued
In addition, other disclosures are specified includin g use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year-end, and other disclosures.
In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools , highly liquid money market investments with maturities of one year or less at time of purchase are stated at amortized cost. All ot her investments are stated at fair value. The City categorizes the fair value measurements of its investments based on the hierarchy established by generally accepted accounting principles. The fair value hierarchy, which has three levels, is based on the valuation inputs used to measure an asset’s fair value: Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. The City does not have any investments that are measured using Level 3 inputs.
The City participates in an investment pool manage d by the State of California entitled Local Agency Investment Fund (LAIF) which has invested a portion of the pooled funds in Structured Notes and Asset- Backed Securities. LAIF’s investments are subject to credit risk with the full faith and credit of the State of California collateralizing these investments. In addition, these Structured Notes and Asset-Backed Securities are subject to market risk as to the change in interest rates.
Cash equivalents are considered amounts in demand deposits and short-term investments with a maturity date within three months of the date acquired by the City and are presented as “Cash and Investments” in the accompanying Basic Financial Statements.
For the purpose of the statement of cash flows, the City considers all pooled cash and investments (consisting of cash and investments and restricted cash and investments) held by the City as cash and cash equivalents because the pool is used essentially as a demand deposit account from the standpoint of the funds. The City also considers all non-pooled cash and investments (consisting of cash with fiscal agent and restricted cash and investments held by fiscal agent) as cash and cash equivalents because investments meet the criteria for cash equivalents defined above.
F. Property Tax Revenues
Alameda County assesses properties and bills, collects, and distributes property taxes to the City. The County remits the entire amount paid and handles th e collection of all delinquencies. The City receives proportionate shares of prior year collections incl uding interest and penaltie s. Secured and unsecured property taxes are levied on January 1 of the preceding fiscal year. The property tax assessments are formally due on November 1 and February I, and become delinquent after December 10 and April 10, respectively. Taxes become a lien on the property effective January 1 of the preceding year.
G. Use of Restricted Resources
When both restricted and unrestricted resources are availa ble for use, it is the City's policy to use restricted resources first, and then unrestricted resources as needed. 278
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
57 1. SUMMARY OF SIGNIFICANT AC COUNTING POLICIES, Continued H. Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid costs in both government-wide and fund financial statements, using the consumption method.
Prepaid costs in governmental funds are equally offset with nonspendable fund balance to indicate they do not constitute resources available for appropriation. Prepaids in governmental funds are treated using the consumption method, where the prepaid expenditure is recognized in the period in which the service is provided or the item is put into use.
I. Leases Receivable
The City’s leases receivable are measured at the pres ent value of lease payments expected to be received during the lease terms. Deferred inflows of resources are recorded for the leases. The deferred inflow of resources is recorded at the initiation of the lease in an amount equal to the initial recording of the lease receivable.
J. Compensated Absences
The City records a long-term compensated absences lia bility to recognize the financial effect of unused general leave and other accrued compensated leave. Th e liability will be paid from future resources primarily from the general fund.
Compensated absences activities were as follows for the year ended June 30, 2023:
279
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
58 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued K. Capital Assets
Capital assets, which include buildings, machinery and equipment, and infrastructure assets (roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, lighting systems, and park improvements), are reported in the Governmental Activities columns of the Government-Wide Financial S t a t e m e n t s . C a p i t a l a s s e t s a r e d e f i n e d b y t h e C i t y a s a s s e t s w i t h a n i n i t i a l , i n d i v i d u a l c o s t o f m o r e t h a n $5,000 for general capital assets and $100,000 for infras tructure capital assets. Such assets are recorded at historical cost or estimated historical cost if actual historical cost is not available. Donated capital assets, donated works of art and similar items, and capital asse ts received in a service concession arrangement are reported at acquisition value.
Capital assets are depreciated over their estimated us eful lives using the straight-line method. This means the cost of the asset is divided by its expected useful life in years and the result is charged to expense each year until the asset is fully depreciated. The purpose of depreciation is to spread the cost of capital assets over the useful life of these assets. The amount charged to depreciation expense each year represents that year's pro rata share of the cost of capital assets.
Depreciation of capital assets is charged as an expense against operations each year and the total amount of depreciation taken over the years, called accumulated depreciation, and is reported on the Statement of Net Position of the government-wide financial statements as a reduction in the book value of the capital assets.
The City has assigned the useful lives listed below to capital assets.
Infrastructure 15-75 Years
Buildings and Improvements 20-38 Years
Vehicles and Equipment 4-20 Years
Capital assets include land, buildings, and equipment used in City operations. Infrastructure includes roads, bridges, curbs, sidewalks, drainage systems, street and traffic lights, park improvements and other improvements used by all citizens.
Donated capital assets, donated works of art and simila r items, and capital assets received in a service concession arrangement are recorded at acquisition valu e. All other capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available.
L. Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The fair value hierarchy categorizes the inputs to valuatio n techniques used to measure fair value into three levels based on the extent to which inputs used in measuring fair value are observable in the market.
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 inputs are inputs - other than quoted prices in cluded within level 1 - that are observable for an asset or liability, either directly or indirectly.
Level 3 inputs are unobservable inputs for an asset or liability. 280
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
59 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued M. Pension
For purposes of measuring the net pension liability an d deferred outflows/inflows of resources related to pensions, and pension expense, information about the fidu ciary net position of the City’s California Public Employees’ Retirement System (CalPERS) plans (Pla ns) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by CalPERS. For this purpose, benefit payments (including refunds of em ployee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
N. Other Postemployment Benefits (OPEB)
For purposes of measuring the net OPEB liability, defe rred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s plan (OPEB Plan) and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined on the same basis. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investme nts are reported at fair value. Generally accepted accounting principles require that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used:
Valuation Date June 30, 2021
Measurement Date June 30, 2022
Measurement Period July 1, 2021 to June 30, 2022
O. Use of Estimates
The preparation of financial statements in conformi ty with generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
P. Deferred Outflows / lnflows of Resources
In addition to assets, the statement of financial position or balance sheet report is a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources , represents a consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources (expense /expenditure) until then.
In addition to liabilities, the statement of financial posi tion or balance sheet report is a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.
281
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
60 1. SUMMARY OF SIGNIFICANT AC COUNTING POLICIES, Continued Q. Net Position and Fund Balance
Net Position
Net Position is the excess of all the City's assets an d deferred outflow of resources over all its liabilities and deferred inflow of resources, regardless of fund. Net Position are divided into three captions. These captions apply only to Net Position, which is determined only for proprietary funds and at the Government-wide level, and are described below:
Net Investment in Capital Assets, describes the portion of Net Position which is represented by the current net book value of the City's capital assets, and reduced by outstanding debt that attributed to the acquisition, construction, or improvement of the assets.
Restricted describes the portion of Net Position which is restricted as to use by the terms and conditions of agreements with outside parties, governmental regulations, laws, or other restrictions which the City cannot unilaterally alter. These prin cipally include developer fees receiv ed for use on capital projects and debt service requirements.
Unrestricted describes the portion of Net Position which is not restricted to use.
When an expense is incurred for purposes for which both restricted and unrestricted net position are available, the City’s policy is to apply restricted net position first.
Fund Balances
Governmental fund balances represent the net current assets of each fund. Net current assets generally represent a fund's cash and receivables, less its liabilities.
The City's fund balances are classified based on spending constraints imposed on the use of resources. For programs with multiple funding sources, the City pr ioritizes and expends funds in the following order:
Restricted, Committed, Assigned, and Unassigned. Each category in the following hierarchy is ranked according to the degree of spending constraint:
Nonspendable represents balances set aside to indicate items do not represent available, spendable resources even though they are a component of assets. Fund ba lances required to be ma intained intact, such as Permanent Funds, and assets not expected to be conver ted to cash, such as prepaids, notes receivable, and long-term interfund loans are includ ed. However, if proceeds realized from the sale or collection of nonspendable assets are restricted, committed or assigned, then Nonspendable amounts are required to be presented as a component of the applicable category.
Restricted fund balances have external restrictions imposed by creditors, grantors, contributors, laws, regulations, or enabling legislation which requires th e resources to be used only for a specific purpose.
Nonspendable amounts subject to restrictions are included along with spendable resources. 282
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
61 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued Q. Net Position and Fund Balance, Continued
Committed fund balances have constraints imposed by reso lution of the City Council which may be altered only by formal action (resolution) of the City Coun cil to establish, modify, or rescind a fund balance commitment. The City Council commits fund balance thro ugh the adoption of a resolution prior to the end of the fiscal year. Once adopted, the limitation impo sed by the resolution remains in place until similar action is taken to remove or revise the limitation. Only the highest level action (a resolution) can be considered a commitment for fund balance classification purposes.
Assigned fund balances are amounts constrained by the City's intent to be used for a specific purpose, but are neither restricted nor committed. Intent is expressed by the City Council or its designee and may be changed at the discretion of the City Council or its de signee. This category includes nonspendable when it is the City's intent to use proceeds or collections for a specific purpose, and residual fund balances, if any, of Special Revenue, Capital Projects and Debt Service Funds which have not been restricted or committed.
Through a council resolution, the City Council has designated the City Manager to determine the amount of assigned Fund balance.
Unassigned fund balance represents residual amounts that have not been restricted, committed, or assigned.
This includes the residual general fund balance and residual fund deficits, if any, of other governmental funds.
Hierarchy of Expenditures to Classify Fund Balance Amounts To determine the composition of ending fund balances , the City considers for expenditures made in any governmental fund, the restricted amounts will be reduced first, followed by committed amounts, assigned amounts, and then unassigned amounts.
R. New Pronouncements
In 2023, the City adopted new accounting standards in order to conform to the following Governmental Accounting Standard Board Statements:
GASB Statement No. 91, Conduit Debt Obligations – The primary objectives of this Statement are to provide a single method of reporting conduit debt obligations by issuers and eliminate diversity in practice associated with (1) commitments extended by issuers, (2) arrangements associated with conduit debt obligations, and (3) related note disclosures. The City updated disclosures relating to conduit debt obligations as part of implementation of this statement.
GASB Statement 94, Public-Private and Public-Publi c Partnerships and Availability Payment Arrangements – The primary objective of this Statement is to improve financ ial reporting by addressing issues related to public- private and public-public partnership arrangements (PPPs). As used in this Statement, a PPP in an arrangement in which a government (the transferor) contracts with an operator (a governmental or nongovernmental entity) to provide public services by conveying control of the right to operate or use a nonfinancial asset, such as infrastructure or other capital asset (the underlying PPP asset), for a period of time in an exchange or exchange-like transaction. The requirements of this statement did not apply to the City for the current fiscal year.
283
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
62 1. SUMMARY OF SIGNIFICANT AC COUNTING POLICIES, Continued R. New Pronouncements, Continued
GASB Statement No. 96, Subscription-based Information Technology Arrangements – This Statement provides guidance on the accounting and financial reportin g for subscription-based information technology arrangements (SBITAs) for government end users (gov ernments). This Statement (1) defines a SBITA; (2) establishes that a SBITA results in a right-to-use subscription asset – an intangible asset – and a corresponding subscription liability; (3) provides the capitalization criteria for outlays other than subscription payments, including implementation costs of a SBITA; and (4) requires note disclosures regarding a SBITA. The City recognized an intangible asset and SBITA liability as part of implementation of this statement.
2. BUDGETS AND BUDGETARY ACCOUNTING
The City follows these procedures in establishing the budgetary data reflected in the basic financial statements:
x Prior to June 30 the City Manager submits to the City Council a proposed operating budget for the fiscal year commencing the following July 1. The operating budget includes proposed expenditures and the means of financing them.
x The public is given an opportunity to comment on the budget at a noticed City Council meeting.
Prior to July 1, the budget is legally enacted through passage of a resolution. x During the fiscal year, the City Manager is authorized to transfer budgeted amounts between line items, provided that the transfer is within the same fund, regardless of the specific department activity. This includes the authority to transfe r from the General Fund budgeted contingency amounts that are approved by the City Council during the budget adoption. The City Manager is authorized to increase revenue and expenditure budget for various departmental functions, when the net budget impact is zero.
x The City Manager is authorized to increase the a ppropriations for the following fiscal year in an amount not to exceed the amount of funds encumbered or designated by the City Manager as needed for expenses that did not occur prior to the year-end, but are expected to be expended in the next year consistent with the original purpose.
x As part of the annual Budget adoption the City Council authorizes the carry-over unexpended capital project appropriations, for those projects where work and expenditures will continue in the subsequent year.
284
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
63 2. BUDGETS AND BUDGETARY ACCOUNTING, Continued
x Formal budgetary integration is employed as a ma nagement control device during the year for the general fund, special revenue funds and capital projects funds. x Budgets for the general, special revenue and capital projects funds are adopted on a basis consistent with generally accepted accounting principles in the United States.
No major capital projects funds incurred expenditures in excess of their budgets for the year ended June 30, 2023.
3. CASH AND INVESTMENTS
The City's dependence on property tax receipts, which are received semi-annually, requires it to maintain significant cash reserves to finance operations during the remainder of the year. The City pools cash as described under the policy section below.
A. Policies
California Law requires banks and savings and loan institutions to pledge government securities with a market value of 110% of the City's cash on deposit, or first trust deed mortgage notes with a market value of 150% of the deposit, as collateral for these deposits. Under California law, this collateral is held in a separate investment pool by another institutio n in the City's name and places the City ahead of general creditors of the institution.
The City pools cash from all sources and all funds, except certain specific investments within funds and cash with fiscal agents, so that it can be invested at the maximum yield, consistent with safety and liquidity, while individual funds can make expenditures at any time.
The City and its fiscal agents inve st in individual investments and in investment pools. Individual investments are evidenced by specific identifiable pieces of paper called security instruments, or by an electronic entry registering the owner in the records of the institution issuing the security, called the book entry system. Individual investments are generally made by the City's fiscal agents as required under its d e b t i s s u e s . I n o r d e r t o m a x i m i z e s e c u r i t y , t h e C i t y e m p l o y s t h e T r u s t D e p a r t m e n t o f a b a n k a s t h e custodian of all City managed investments, regardless of their form.
The City's investments are carried at fair value, as required by generally accepted accounting principles.
The City adjusts the carrying value of it s investments to reflect their fair value at each fiscal year end, and it includes the effects of these adjustments in income for that fiscal year. 285
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
64 3. CASH AND INVESTMENTS, Continued
B. Classification
Cash and investments are classified in the financial statements as shown below, based on whether or not their use is restricted under the terms of City agreements.
Cash and investments as of June 30, 2023 consisted of the following:
C. Investments Authorized by the California Gove rnment Code and the City’s Investment Policy The City's Investment Policy and the California Govern ment Code allow the City to invest in the following, provided the credit ratings of the issuers are acceptable to the City; and approved percentages and maturities are not exceeded. The table below also identifies certain provisions of the California Government Code, or the City's Investment Policy where the City's Investment Policy is more restrictive. 286
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
65 3. CASH AND INVESTMENTS, Continued
D. Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Normally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. The City generall y manages its interest rate risk by holding investments to maturity.
Information about the sensitivity of th e fair values of the City's investments (including investments held by bond trustees) to market interest rate fluctuations is provided by the following table that shows the distribution of the City's investments by maturity or earliest call date:
The City is a voluntary participant in the Local Agen cy Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California.
The City’s investments with LAIF as of June 30, 2023, include a portion of the pool funds invested in Structured Notes and Asset-Backed Securities. These investments include the following:
Structured Notes – are debt securities (other than a sset-backed securities) whose cash flow characteristics (coupon rate, redemption amount, or stated maturity) depend upon one or more indices and/or have embedded forwards or options.
Asset-Backed Securities – the bulk of which are mort gage-backed securities, entitle their purchasers to receive a share of the cash flows from a pool of assets such as principal and interest repayments from a pool of mortgages (such as Collateralized Mortgage Obligations) or credit card receivables.
As of June 30, 2023, the City had $25,696,371 invested in LAIF, which had invested 2.78% of the pool investment funds in Structured Notes and Asset-Backed Securities as compared to 1.88% in the previous year. The LAIF fair value factor of .984828499 was used to calculate the fair value of the investments in LAIF.
287
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
66 3. CASH AND INVESTMENTS, Continued
D. Interest Rate Risk, Continued
The City is a participant in the California Asset Management Program (CAMP). CAMP is an investment pool offered by the California Asset Management Trust (the Trust). The Trust is a joint powers authority and public agency created by the Declaration of Trust and established under the provisions of the California Joint Exercise of Powers Act (California Government Code Sections 6500 et seq., or the "Act") for the purpose of exercising the common power of its Participants to invest certain proceeds of debt issues and surplus funds. The Pool's investments are limited to investments permitted by subdivisions (a) to (n), inclusive, of Section 53601 of the California Government Code. The City reports its investments in CAMP at the fair value amounts provided by CAMP, which is the same as the value of the pool share. The fair value approximated is the City's cost. As of June 30, 2023, these investments have an average maturity of 26 days.
The City's investments include Asset-Backed Securiti es in the amount of $28,186,820 that are highly sensitive to interest rate fluctuations to a greater degree than already indicated above.
E. Fair Value Hierarchy
The City categorizes its fair value measurements with in the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure fair value of the assets. Level 1 inputs are quoted prices in an ac tive market for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs.
The following is a summary of the fair value hierarchy of the fa ir value of investments of the City as of June 30, 2023:
Level 1 Level 2 Total
Investments By Fair Value Level:
Asset-Backed Securities -$ 28,186,820$ 28,186,820$ U.S. Treasury Notes 1,965,912 97,312,236 99,278,148 Supranationals - 16,711,738 16,711,738 Medium-Term Notes - 71,551,740 71,551,740 U.S. Government Agency Securities - 53,795,750 53,795,750 Collateralized Mortgage Obligations - 6,570,900 6,570,900 Total 1,965,912$ 274,129,184$ 276,095,096 Investments Exempt From Disclosure:
Local Agency Investment Fund 25,696,371
California Asset Management Program 94,675,879
Money Market Funds 2,641,554
Total 399,108,900$
288
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
67 3. CASH AND INVESTMENTS, Continued
E. Fair Value Hierarchy, Continued
U.S. Government agency securities, medium term notes, asset-backed securities, and commercial, classified in Level 2 of the fair value hierarchy, are valued us ing matrix pricing techniques maintained by various pricing vendors. Matrix pricing is used to value se curities based on the securities' relationship to benchmark quoted prices. The California Local Agen cy Investment Fund (LAIF), California Asset Management Program and money market funds are classified as exempt in the fair value hierarchy. Fair value is defined as the quoted market value on the last trading day of th e period. These prices are obtained from various pricing sources by our custodian bank.
F. Credit Risk
Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. The actual ratings as of June 30, 2023 were provided by Standard and Poor's investment rating system except as noted. The Local Agency Investment Fund was not rated as of June 30, 2023.
G. Concentration of Credit Risk
Included in the table at Note F above are the following significant investments in any one issuer other than U.S. Treasury securities, mutual funds, and external investment pools. 289
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
68 4. INTERFUND TRANSACTIONS
A. Transfers between Funds
Transfers between funds during the year ended June 30, 2023 were as follows:
Significant transfers noted above made to major capital project funds were to fund on-going capital projects including Citywide Energy Improvements, financial system replacement, Cultural Arts Center, sports park and playgrounds, street resurfacing, and road improvements.
B. Current Interfund Balances
Current interfund balances arise in the normal course of business and are expected to be repaid shortly after the end of the fiscal year. Significant balances in the ca pital project funds are a result of initiation of capital projects expected to be funded by future fees. No formal repayment schedules have been adopted for these temporary loans. As of June 30, 2023, the following funds have balances due to the General Fund:
Transfers Out General
General
Improvements
Projects Capital
Projects
Parks Projects
Capital Projects
Streets Projects
Capital Projects
Non-major
Governmental
Funds
Internal Service
Funds Total
Major Funds
General Fund -$ 1,517,792$ 20,988$ 417,663$ 23,378$ 2,000,000$ 3,979,821$ Public Facilities Impact
Fees Capital Projects - 3,419,639 3,937,124 - - - 7,356,763 Traffic Impact Fees
Capital Projects - - - 1,788,206 - - 1,788,206 Dublin Crossing Contribution
Capital Projects - - - 450,000 - - 450,000 Non-major Governmental Funds 29,383 6,854,409 581,666 10,397,350 474,814 - 18,337,622 Governmental funds subtotal 29,383 11,791,840 4,539,778 13,053,219 498,192 2,000,000 31,912,412 Internal Service Funds - 37,965 - - - - 37,965 Total 29,383$ 11,829,805$ 4,539,778$ 13,053,219$ 498,192$ 2,000,000$ 31,950,377$ Transfers In
290
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
69 4. INTERFUND TRANSACTIONS, Continued
C. Advances between Funds
During the 2020-2021, 2021-2022, and 2022-2023 fiscal years, the General Fund advanced funds to the Public Facilities Impact Fees Capital Projects Fund to co ver the construction costs of Wallis Ranch Community Park, Jordan Ranch Neighborhood Square, and Library Tenant Improvements.
The following interfund advance balance existed at June 30, 2023:
5. NOTES RECEIVABLE
The following table summarizes the notes receivable outstanding as of June 30, 2023:
Revolving Home Loans - As part of the City of Dublin First Time Homebuyer Loan Program (FTHLP), the City provides financial assistance , in the form of a deferred loan. The program targets first time homebuyers within a certain income range purchasing their first home in Dublin. Monthly payments of principal and interest are generally deferred until the homes are sold, or are in default. In certain situations the loan may also be due when the homeowners refinance their primary mortgage. The total outstanding amount due, including accrued simple interest at 3.5% per annum, as of June 30, 2023 was $846,850. As of June 30, 2023, there were no loans in default.
291
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
70 5. NOTES RECEIVABLE, Continued
Details of the Revolving Home Loans as of June 30, 2023 were as follows:
REPAYMENT OF
LOAN ORIGINAL ACCRUED INTEREST AND LOAN
LOAN # DATE LOAN AMOUNT INTEREST PRINCIPAL BALANCE
#07-14 10/2/2007 19,610$ 10,810$ -$ 30,420$ #07-04 10/31/2007 50,000 27,421 - 77,421 #07-15 12/4/2007 24,536 13,377 - 37,913 #07-16 12/28/2007 8,000 4,343 - 12,343 #07-18 2/29/2008 24,170 12,973 - 37,143 #08-07 4/10/2009 27,425 13,655 - 41,080 #08-08 6/30/2009 39,576 19,397 - 58,973 #09-02 9/29/2009 36,595 17,617 - 54,212 #11-01 12/9/2011 26,025 10,545 - 36,570 #11-05 1/13/2012 29,999 12,037 - 42,036 #11-08 1/31/2012 35,249 14,083 - 49,332 #12-01 10/30/2012 29,999 11,203 - 41,202 #12-04 4/12/2013 36,749 13,145 - 49,894 #12-05 4/26/2013 35,249 12,562 - 47,811 #12-06 6/12/2013 31,499 11,083 - 42,582 #13-04 12/9/2013 40,000 13,384 - 53,384 #17-01 5/25/2018 40,000 7,142 - 47,142 #19-02 11/22/2019 40,000 5,052 - 45,052 #21-01 10/29/2021 40,000 2,340 - 42,340 Totals 614,681$ 232,169$ -$ 846,850$ 292
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
71 5. NOTES RECEIVABLE, Continued
Eden Senior Affordable Housing Loan - (Wicklow Square) - On September 23, 2002, the City selected Eden Housing, Inc. as the developer for th e affordable senior housing at the site of the former library located at 7606 Amador Valley Boulevard. This site also houses a senior center that the City constructed during fiscal year 2003-2004. On February 1, 2004, the City entered into an agreement and provided a loan in the amount of $2,248,248 to the Dublin Senior Limited Partnership to support the senior housing project. The interest on the outstanding principal balance of the loan is accrue d at the rate of 3% simple interest per annum. The entire outstanding principal balance of the loan, together with the interest accrued, shall be payable in full on February 8, 2059, the 55th anniversary of the Initial Disbursement Date of February 18, 2004.
Repayments commenced on June 1, 2006, and on the first day of each June, 60% of the Surplus Cash generated by the project during the previous calendar year are remitted to reduce the outstanding indebtedness. Any payment not paid when due shall bear interest at a rate equal to 10% annum from the due date until it is paid in full. As of June 30, 2023, the outstanding loan amount was $3,029,193.
SBA Microloan Program – The City of Dublin’s Small Busine ss Emergency Microloan Program was established by the Dublin City Council with the inte ntion to assist in retaining local small businesses (primarily restaurants and retailers) that are experiencing severe negative impacts due to the COVID-19 pandemic. The Program provides zero-interest, unsecure d, short-term loans of up to $10,000 to eligible independently or locally owned businesses with priority for restaurants and retail businesses. Loan funds must be used to cover payroll, rent, operating expens es or working capital. Loan repayment is deferred for 36 months after loan approval. The loan may be up to 100% forgiven based on either longevity of the business operating in Dublin or sales tax generation by the business. As of June 30, 2023, the outstanding loan amount was $86,458.
Arroyo Vista Predevelopment/Construction Loan - Family and Senior Projects - (Emerald Vista) – On June 1, 2011, the City entered into an agreement to provide a loan to Eden Dougherty, L.P., a California nonprofit public benefit corporation, with a not-to-exceed $7,600,000 pr incipal amount in accordance to the Arroyo Vista Disposition and Development Agreem ent dated July 25, 2007 concerning the redevelopment of the real property located at 6700 Dougherty Road in the City of Dublin. The City agreed to provide a loan to Eden to assist in financing the development of the Family Project and Senior Project. The City determined that the development of the project is in the interests of health, safety and welfare of the residents of the City, and that the City financing is necessary to make the proj ect affordable to low and very low income households for a term of not less than fifty-five years. The note will not bear interest until the earlier of (i) the date that the project's construction financing is either converted to a permanent loan or repaid in full, or (ii) twelve m o n t h s f o l l o w i n g t h e d a t e o f i s s u a n c e o f t h e f i n a l c ertificate of occupancy or equivalent for the project; thereafter, the outstanding principal balance of the loan shall bear interest at a rate equal to three percent simple annual interest. Annual payments shall be due and payable on a residual receipts basis in accordance with the formula set forth in the note. The entire outstanding principal balance and accrued interest shall be paid in full on the earlier of (i) the fi fty fifth anniversary of the date of issuance of the final certificate of occupancy or (ii) the fifty-seventh anni versary of the loan origination date. The City has the right to accelerate maturity date and declare all sums immediately due and payable to the City upon the occurrence of an event of developer default, including developer's failure to commence or complete construction of the project within times period specif ied in the note. As of June 30, 2023, the outstanding loan amounts for the Family Project and the Senior Project were 2,240,727 and $871,018, respectively. 293
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
72 5. NOTES RECEIVABLE, Continued
Veterans Family Apartment Development Loan – On October 1, 2015, the City entered into an agreement to provide a loan to Dublin Family, L.P., a California lim ited partnership. The City entered into an agreement and provided a loan in the amount of $6,400,000 to the Dublin Family L.P. to build on the property a 66-unit affordable multifamily rental housing project consisting of 65 affordable rental housing units primarily for very low and low income veterans and their families, one resident manager's unit, and other related improvements. The only payment to be received is th e accrued interest. The principal is not due until the maturity date. The entire outstanding principal balance of the loan, together with the interest accrued, shall be payable in full on June 1, 2070. The City has the right to accelerate maturity date and declare all sums immediately due and payable to the City upon the occurrence of an event of developer default, including developer's failure to commence or complete construction of the project within times period specified in the note. As of June 30, 2023, the outstanding loan amount was 7,466,826.
6. LEASES RECEIVABLE
Cell Tower Leases
In July 2000, the City entered into a lease with New Cingular Wireless PCS , LLC. Under the lease, the lessee pays the City $10,404 per year (with 2% increase every year) for 10 years in exchange for ten (10) pole licenses. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 0.34%, which is FY20-21 Q1 market yield of the City’s portfolio. For the year ended June 30, 2023, the City recognized $11,433 of lease revenue and $275 of interest revenue under the lease.
In July 2022, the City entered into a lease with New Cingular Wireless PCS , LLC. Under the lease, the lessee pays the City $10,824 per year (with 2% increase every year) for 7 years in exchange for ten (10) pole licenses. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 3.66%, which is FY22-23 Q1 market yield of the City’s portfolio. For the year ended June 30, 2023, the City recognized $9,954 of lease revenue and $2,247 of interest revenue under the lease.
Crown Castle Lease
In July 2000, the City entered into a lease with Crown Castle. Under the lease, the lessee pays the City $2,653 per month for 20 years in exchange for space to be used for a cellular tower site. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 0.60%, which is FY21-2 2 Q2 market yield of the City’s portfolio. For the year ended June 30, 2023, the City recognized $21,720 of le ase revenue and $31,176 of interest revenue under the lease.
Alameda County Fire Department Lease – Fleet
In July 2014, the City entered into a lease with Alameda County Fire Department. Under the lease, the lessee pays the City based on a rent schedule for 24 0 months in exchange for 5777 Scarlett Court, Dublin, CA 94568 for Fleet Maintenance Facility Use. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 0.56%, which is the FY14-15 Q1 market yield of the City’s portfolio. For the year ended June 30, 2023, the City recognized $150,566 of lease revenue and $125,018 of interest revenue under the lease. 294
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
73 6. LEASES RECEIVABLE, Continued
Alameda County Fire Department Lease – Fire
In January 2020, the City entered into a lease with Alameda County Fire Department. Under the lease, the lessee pays based on a rent schedule for 60 months in exchange for 6363 Clark Avenue, Dublin, CA 94568 for Fire Department Office Facility Use. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 1.11%, which is the FY19-20 Q3 market yield of the City’s portfolio. For the year ended June 30, 2023, the City recognized $255,950 of lease revenue and $77,736 of interest revenue under the lease.
U.S. Bank National Association Lease – Building/Park
In November 2022, the City entered into a lease with U.S. Bank National Association. Under the lease, the lessee pays the City based on a rent schedule for 60 months in exchange for 11805 Dublin Blvd, Dublin, CA 94568 for Bank Branch/Park. The lease receivable is measured as the present value of the future minimum rent payments expected to be received during the lease term at a discount rate of 3.66%, which is the FY22- 23 Q1 market yield of the City’s portfolio. For the year ended June 30, 2023, the City recognized $31,957 of lease revenue and $10,448 of interest revenue under the lease.
The future payments on the leases as of June 30, 2023 were as follows:
Year Ending
June 30, Principal Interest Principal Interest Principal Interest 2024 24,365 $ 33,139 $ 83,233 $ 119,624 $ 261,401 $ 40,651 $ 2025 25,968 32,468 101,555 113,473 186,708 8,382 2026 28,283 31,676 108,593 106,435 - - 2027 30,772 30,752 129,425 98,503 - - 2028 33,447 29,683 138,396 89,532 - - 2029-2033 92,810 131,530 994,760 272,124 - - 2034-2042 319,475 111,517 261,838 9,628 - - Total 555,120$ 400,765$ 1,817,800$ 809,319$ 448,109$ 49,033$ Year Ending
June 30, Principal Interest Principal Interest
2024 22,548$ 96,492$ 391,547$ 289,906$ 2025 34,709 84,331 348,940 238,654 2026 53,429 65,611 190,305 203,722 2027 82,246 36,794 242,443 166,049 2028 36,299 3,381 208,142 122,596 2029-2033 - - 1,087,570 403,654 2034-2042 - - 581,313 121,145 Total 229,231$ 286,609$ 3,050,260$ 1,545,726$ 11805 Dublin Blvd Total
Cell Tower Leases ACFD Fleet ACFD Fire
295
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
74 7. CAPITAL ASSETS
A. Current Year Activities
Capital asset activities during the year ended June 30, 2023 were as follows:
Balance
July 1, 2022 Balance
(as restated) Additions Retirements June 30, 2023
Non-depreciable assets:
Land 182,170,145$ -$ -$ 182,170,145$ Streets right of way 37,760,857 - - 37,760,857 Construction in progress 87,822,285 26,781,971 - 114,604,256 Total non-depreciable assets 307,753,287 26,781,971 - 334,535,258 Depreciable assets:
Infrastructure 448,086,898 - - 448,086,898 Buildings and improvements 118,068,799 24,960 - 118,093,759 Vehicles and equipment 24,837,789 872,184 25,709,973 Subscription based I.T. agreements 1,479,702 - - 1,479,702 Total depreciable assets 592,473,188 897,144 - 593,370,332 Less accumulated depreciation/
amortization:
Infrastructure (273,910,616) (9,466,602) - (283,377,218) Buildings and improvements (57,829,153) (3,869,601) - (61,698,754) Vehicles and equipment (12,236,002) (1,907,892) - (14,143,894) Right of way (170,719) (93,423) - (264,142) Subscription based I.T. agreements - (340,456) - (340,456) Total accumulated depreciation/
amortization (344,146,490) (15,677,974) - (359,824,464) Total depreciable assets, net 900,226,475 27,679,115 - 927,905,590 Total capital assets 556,079,985$ 12,001,141$ -$ 568,081,126$ 296
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
75 7. CAPITAL ASSETS, Continued
B. Project Commitments
As of June 30, 2023, the City had outstanding commitments with contractors for the following projects:
C. Capital Asset Contributions
Some capital assets may be acquired using Federal an d State grant funds, or they may be contributed by developers or other governments. GASB Statement 34 requires that these contributions be accounted for as revenues at the time the capital assets are contributed.
D. Depreciation Allocation
Depreciation expense is charged to functions and programs based on their usage of the related assets. The amounts allocated to each function or programs are as follows:
8. LONG TERM DEBT
A. Current Year Transactions and Balances
Long-term debt transactions and balances during the year ended June 30, 2023 were as follows:
297
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
76 8. LONG TERM DEBT, Continued
B. 2021 Lease Revenue Bonds – Original Issue $18,565,000 In October 2021, the Dublin Financing Authority issued the 2021 Lease Revenue Bonds to finance energy efficiency improvements throughout the City. The bonds dated October 14, 2021, and issued at a premium of $2,477,136 mature in 2041. Commencing June 1, 2022, principal payments are due annually on June 1 and interest payments are due annually on June 1 and December 1. Debt service is payable from any source of available funds of the City. Interest on the bonds ranges from 2.5% to 4.0%. The balance at June 30, 2023, including unamortized bond premium of $2,270,709 amounted to $19,675,709.
The annual debt service requirements on the bonds at June 30, 2023 are as follow:
C. Subscription Based Information Technology Arrangements The City implemented Governmental Accounting Standards Board Statement No. 96, Subscription-Based Information Technology Arrangements , in fiscal year 2023. The City has four software arrangements that require recognition under GASBS No. 96. The software amortization expense is included on the Statement of Revenues, Expenses and Changes in Fund Net Position related to the City’s intangible asset of four software systems, which is included in Note 7 as subscription based I.T. agreements. The City now recognizes a subscription-based info rmation technology arrangements (S BITA) liability and an intangible right-to-use asset for the four software arrangements described below.
Activenet software arrangement is a three-year agreement with automatic renewals for three year terms, initiated in fiscal year 2019 with an annual payment of $53,040. The City has used a 2.4% discount rate for this arrangement based on similar debt during the sa me fiscal year. There are no options to extend the arrangement or purchase the software.
Consiliant Technologies software arr angement is a three-year agreement, initiated in fiscal year 2022 with annual payments ranging from $62,934 to $63,562. The City has used a 2.4% discount rate for this arrangement based on similar debt during the same fiscal year. There is an option to extend the arrangement on a month to month basis for up to six months. There is no option to purchase the software. 298
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
77 8. LONG TERM DEBT, Continued
C. Subscription Based Information Te chnology Arrangements, Continued OpenGov software arrangement is a five-year agreement, initiated in fiscal year 2020 with an annual payment of $52,472. The City has used a 2.4% discount rate for this arrangement based on similar debt during the same fiscal year. There are no options to extend the arrangement or purchase the software.
Tyler Technologies software arrangement is a seven-year agreement, initiated in fiscal year 2021 with an annual payment of $238,326. The City has used a 2.4% discount rate for this arrangement based on similar debt during the same fiscal year. There are no options to extend the arrangement or purchase the software.
The annual debt service requirements on the bonds at June 30, 2023 are as follow:
9. RESTATEMENT OF ASSETS AND LIABILITIES
The City recorded the following prior period adjust ments as part of implementing GASB Statement 96, Subscription Based Information Technology Arrangements and correcting prior year recognized leases receivable and related deferred inflow of resources. There was no net impact on beginning fund balance or net position as a result of the prior period adjustments.
Fund Balance/ Fund Balance/
Net Position, as Deferred Net Position, as
Previously Reported Leases Inflows - Capital Long-Term Restated at at June 30, 2022 Receivable Leases Assets Debt June 30, 2022 Government-Wide
Financial Statements
Governmental Activities 889,718,201$ 495,424$ (495,424) $ 1,479,702 $ (1,479,702) $ 889,718,201 $ Fund Financial Statements
General Fund 223,857,506$ 495,424$ (495,424) $ - $ -$ 223,857,506$ Internal Service Funds 63,716,084$ - $ - $ 1,479,702$ (1,479,702) $ 63,716,084 $ Prior Period Adjustments
299
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
78 10. FUND BALANCES
Detailed classifications of the City's Fund Balances, as of June 30, 2023, are stated below:
300
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
79 10. FUND BALANCES, Continued
A. Minimum Fund Balance Policies
The City's Reserve Policy requires the City to main tain an Unrestricted General Funds, for cash flow purposes, of minimum equal to two months of budgeted operating expenditures with a goal to achieve a maximum of four months. As of June 30, 2023 the cash flow reserves, which are part of the Unassigned Fund Balance, were above the minimum at approximately 7 months, which were over the desired target of 4 months. Funds may be appropriated as to Undesignat ed Capital Contribution by designation from City Council only for high priority one time capital expenditures provided the minimum fund balance would remain.
B. Fund Balance Deficits
The funds listed in the table below had fund balance defici ts as of June 30, 2023. These deficits are expected to be eliminated by future revenues.
11. DEFERRED COMPENSATION PLAN
City employees may defer a portion of their compensation under a City sponsored deferred compensation plan created in accordance with Internal Revenue Co de Section 457. Under this plan, participants are not taxed on the deferred portion of their compensation un til it is distributed to them; distributions may be made only at termination of employment, retirement, death, or in an emergency as defined by the Plan. In accordance with GASB Statement No. 32, the funds ha ve been placed in a trust administered by ICMA Retirement Corporation and are not available to the City's general creditors. Accordingly, the City does not report the assets in the financial statements.
12.PENSION PLAN
A. General Information about the CalPERS Pension Plan
Plan Description and Summary of Balances by Plan - All qualified permanent and probationary employees are eligible to participate in the City's Miscellaneous (all other) Employee Pension Rate Plan. The City's Miscellaneous Rate Plan is part of the public agency cost-sharing multiple-employer defined benefit pension plan (PERF C), which is administered by th e California Public Employees' Retirement System (CalPERS). PERF C consists of a misc ellaneous pool and a safety pool (also referred to as "risk pools"), which comprised individual employer miscellaneous and safety rate plans, respectively. Individual employers may sponsor more than one miscellaneous and safety rate plan. The employer participates in one cost-sharing multiple-employer defined benefit pens ion plan regardless of the number of rate plans the employer sponsors. The City sponsors two rate plans (miscellaneous). Benefit provisions under the Plan are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.
301
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
80 12. PENSION PLAN, Continued
A. General Information about the CalPERS Pension Plan, Continued Benefits Provided - CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who mu st be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full time employment. All members are eligible for non-duty disability benefits after 10 years of servic e. The death benefit is one of the following: the Basic Death Benefit, the 1959 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees' Retirement Law. The Pension Reform Act of 2013 (PEPRA), Assembly Bill 340, is a pplicable to employees new to CalPERS and hired after December 31, 2012.
The Plan's provisions and benefits in effect as of June 30, 2023, are summarized as follows:
Contributions - Section 20814(c) of the California Public Employees' Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plan are determined annually on an actuarial basis as of Ju ne 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrue d liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.
For the measurement period ended June 30, 2022, the City's contributions to the Plan were $1,928,720.
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of R esources Related to Pensions
As of June 30, 2023, the City reported $20,630,516 in net pension liabilities for its proportionate share of the net pension liability of the Plan. The General Fund has been used in prior years to liquidate the net pension liabilities.
The City's net pension liability for the Plan is meas ured as the proportionate share of the net pension liability. The net pension liability of the Plan is measur ed as of June 30, 2022, and the total pension liability for the Plan used to calculate the net pension liability was de termined by an actuarial valuation as of June 30, 2021 rolled forward to June 30, 2022 using standard update procedures. The City's proportion of the net pension liability was based on a projection of the City's long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. 302
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
81 12. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions, Continued
The City's proportionate share of the net pension liabilit y for the Plan as of the measurement dates June 30, 2021 and 2022 was as follows:
For the year ended June 30, 2023, the City recognized net pension expense of $1,358,055 for the Miscellaneous Plan on the Statement of Activities. As of June 30, 2023, the City re ported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
Deferred Outflows
of Resources
Deferred Inflows of
Resources
Pension contributions subsequent
to measurement date 2,194,205 $ - $
Changes of assumptions 2,114,027 -
Differences between expected and
actual experience 414,301 277,481
Changes in employer's proportion 700,707 - Differences between the employer's
contribution and the employer's
proportionate share of
contributions - 1,740,346 Net differences between projected
and actual earnings on plan
investments 3,778,963 -
Total 9,202,203$ 2,017,827 $
303
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
82 12. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions, Continued
The $2,194,205 reported as deferred outflows of re sources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2024. Other amounts reported as deferred outf lows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:
Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate - The following presents the City's proportionate share of the net pension liability for the Plan, calculated using the discount rate for the Plan, as well as what the City's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate:
304
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
83 12. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions, Continued
Actuarial Assumptions - For the measurement period ended June 30, 2022, the total pension liabilities were determined by rolling forward the June 30, 2021 tota l pension liability. The June 30, 2021 total pension liabilities were based on the following actuarial methods and assumptions:
All other actuarial assumptions used in the June 30, 2021 valuation were based on the results of a December 2017 actuarial experience study for the period 1997 to 2015. Further details of the Experience Study can found on the CalPERS website.
Discount Rate - The discount rate used to measure the total pension liability was 6.90% for the Plan. To determine whether the municipal bond rate should be us ed in the calculation of a discount rate for each plan, CalPERS stress tested plans that would most likel y result in a discount rate that would be different from the actuarially assumed discount rate. Based on the testing, none of the tested plans run out of assets.
Therefore, the current 6.90% discount rate is adequate and the use of the municipal bond rate calculation is not necessary. The long term expected discount rate of 6.90% will be applied to all plans in the Public Employees Retirement Fund (PERF). The stress test results are presented in a detailed report that can be obtained from the CalPERS website.
In determining the long-term expected rate of return, CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows. Projected returns for all asset classes are estimated and, combined with risk estimates, are used to project compound (geometric) returns over the long term. The discount rate used to discount liabilit ies was informed by the long-term projected portfolio return.
The table on the following page reflects the 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 rates of return are net of administrative expenses. 305
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
84 12. PENSION PLAN, Continued
B. Pension Liabilities, Pension Expenses, and Deferred Outflows/Inflows of Resources Related to Pensions, Continued
Pension Plan Fiduciary Net Position - Detailed information about each pension plan's fiduciary net position is available in the separately issued CalPERS financial reports.
Payable to the Pension Plan – There were no outstanding contributions to the pension plan as of June 30, 2023.
Change in Assumption – For measurement period ended June 30, 2022, the discount rate was reduced to
6.90%.
13. OTHER POST EMPLOYMENT BENEFITS
A. City of Dublin Retiree Health Plan
Plan Description - City of Dublin (City) Retiree Health Plan is a single-employer defined benefit healthcare plan administered by the California Public Employee s Retirement System (CalPERS). The plan provides medical insurance benefits to eligible retirees and th eir eligible dependents in accordance with Public Employee Retirement Law (Article 2). The Public Employees Retirement System Board of Administration has the responsibility to approve health benefit plans an d may contract with carriers offering health benefit plans. The Board of Administration is responsible for adopting all rules and regulations, including the scope and content of basic health plans. The California Government Code also defines certain rules for contract agencies, such as the City of Dublin, to purchase health insurance benefits. (1)(2)
(1) An expected inflation of 2.30% used for this period. (2) Figures are based on the 2021-22 Asset Liability Management study. 306
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
85 13. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
Contributions - There is no requirement imposed by CalPERS, to contribute any amount beyond the pay-as- you-go contributions. The cost of monthly insurance premiums may be shared between the retiree and the City. The contribution and cost sharing varies depend ing on: date of hire; the dependent status; and plan selected. The City contributes PEMHCA to retirees hired after January 1, 2016. A minimum employer monthly contribution requirement is established and may be amended by the CalPERS Board of Administration and applicable laws. Within the parame ters of the law, individual contracting agencies, such as the City, are allowed to establish and amend the level of contributions made by the employer towards the monthly cost of the plans. Changes to the employer contribution rate towards retiree benefits are recorded in a resolution adopted by the City Council.
For the measurement period 2021-22, the City contributed $252,514.
Employees Covered
Net OPEB Liability
The City’s net OPEB liability was measured as of Ju ne 30, 2022 and the total OPEB liability used to the calculate the net OPEB liability was determined by an actuarial valuation dated June 30, 2021, based on the following actuarial methods and assumptions:
307
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
86 13. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
Net OPEB Liability, Continued
The long-term expected rate of return on OPEB plan investments was determined using a building- block method in which expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major as set class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the table on the following page.
Discount Rate
The discount rate used to measure the total OPEB liab ility was 5.55 percent. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. 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.
Target Expected Real
Asset Class Allocation Rate of Return*
Global Equity 34.00% 4.40%
Fixed Income 41.00% -1.00%
TIPS 5.00% -1.80%
Commodities 3.00% 0.80%
REITS 17.00% 3.00%
Assumed Long-Term Rate of Inflation 2.50%
Assumed Long-Term Investment Expenses n/a
Expected Long-Term Net Rate of Return, Rounded 5.55%
Discount Rate** 5.55%
*Real rates of return come from a geometric representation of returns that assume a general inflation rate of 2.50%.
**The fiduciary net position is projected to be sufficient to make projected benefit payments, and the plan assets are expected to be invested using the strategy to achieve the expected return. 308
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
87 13. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
Changes in the Net OPEB Liability
The changes in the Net OPEB liability for the OPEB Plan are as follows:
Sensitivity of the Net OPEB Liability to Changes in the Discount Rate The following presents the net OPEB liability (asset) of the City if it were calcul ated using a discount rate that is one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2022:
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
Balance at June 30, 2022 $ 18,789,617 $ 27,838,355 $ (9,048,738) Changes in the year:
Service cost 483,571 - 483,571 Interest on the total pension
liability 1,158,191 - 1,158,191 Differences between actual
and expected experience - - - Changes in assumptions 1,459,903 - 1,459,903 Changes in benefit terms (1,185,363) - (1,185,363) Contribution - employer - 252,514 (252,514) Contribution - employee - - - Net investment income - 1,696,842 (1,696,842) Administrative expenses - (7,026) 7,026 Benefit payments , including
refunds of employee
contributions - (1,185,363) 1,185,363 Investment Experience - (5,024,353) 5,024,353 Net changes 1,916,302 (4,267,386) 6,183,688 Balance at June 30, 2023 $ 20,705,919 $ 23,570,969 $ (2,865,050) Increase (Decrease)
309
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
88 13. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
Sensitivity of the Net OPEB Liability to Changes in the Health Care Cost Trend Rates The following presents the net OPEB liability of the City if it were calculated using health care cost trend rates that are one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2022:
Recognition of Deferred Outflow and Deferred Inflows of Resources Gains and losses related to changes in total OPEB li ability and fiduciary net position are recognized in OPEB expense systematically over time. Amounts are first recognized in OPEB expense for the year the gain or loss occurs. The remaining amounts are catego rized as deferred outflows and deferred inflows of resources related to OPEB and are to be recognized in future OPEB expense. The recognition period differs depending on the source of the gain or loss:
OPEB Expense and Deferred Outflows/(Inflows) of Resources Related to OPEB For the fiscal year ended June 30, 2023, the City recognized OPEB expense (income) of $(122,895). 310
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
89 13. OTHER POST EMPLOYMENT BENEFITS, Continued
A. City of Dublin Retiree Health Plan, Continued
OPEB Expense and Deferred Outflows/(Inflows) of Resources Related to OPEB, Continued For the fiscal year ended June 30, 2023, the City repo rted deferred outflows of resources related to OPEB from the following sources:
The $284,727 reported as deferr ed outflows of resources related to contributions subsequent to the June 30, 2022 measurement date will be recognized as a reduction of the ne t OPEB liability during the fiscal year ending June 30, 2024. Other amounts reported as deferred outflows of resources related to OPEB will be recognized as expense as follows:
B. Dougherty Regional Fire Authority Health Plan (DRFA) The City provides certain health care benefits for Do ugherty Regional Fire Authority retirees as required under contract signed with PERS and the dissolution agreement of the Authority. The cost of retiree health care benefits is recognized as expenditure as premiums are paid. For the year ended June 30, 2023 those cost totaled $38,450.
311
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
90 14. HEALTH, GENERAL LIABILITY, AND WORKERS’ COMPENSATION COVERAGE A. Risk Pool
The City participates in the PLAN JPA, a non-profit public benefit corporation established to provide liability insurance coverage, claims administration and risk management services, and legal defense to its participating members. The liability insurance covera ge is provided by a combination self-insurance collectively funded by PLAN JPA and the purchase of commercial insurance for large losses.
PLAN JPA provides the first $5 million of coverage as self-funded general liability and automobile liability coverage per occurrence. PLAN JPA purchases commerci al excess liability insurance in two layers of $10 million and $15 million each to provide total coverage of claims up to $30 million per occurrence. The City has a deductible of $50,000 per occurrence. PLAN JPA also provides $2 million of employee bonds (theft coverage) in excess of a $10,000 deductible.
PLAN JPA also provides property insurance coverage. This coverage also comprises self-insured layer combined with commercial insurance. The first $100,000 of losses are self-funded by PLAN JPA from premiums collected from the participants in the pr ogram. PLAN JPA purchases an insurance policy to cover losses above $100,000 per occurrence and the annual aggregate losses of the pool are insured above $225,000. The insurance provides coverage for property damage among all participants to $1 billion. The City deductible for property and vehicle losses is $5 ,000. For any single loss in excess of $25,000 the deductible is waived.
The City's contributions to the PLAN JPA for liability coverage are based on a formula which considers the ratio of the City's payroll to the total payrolls of all entities participating in the same layer of each program, in each program year's loss history and population. 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.
There have been no significant reductions in any of the City's areas of insurance coverage and no settlement amounts have exceeded coverage in the past three ye ars. Audited financial information for the PLAN JPA can be obtained from Bickmore, 1750 Creekside Oaks Drive, Suite 200, Sacramento, CA 95833.
B. Workers’ Compensation Coverage
The City participates in The Cities Group, created by a joint powers agreement (JPA) to provide workers' compensation coverage paid from the pooled contribu tions of its membership with no deductible to the City. Any claim in excess of $1 million is covered up to $10 million through a policy with Safety National Casualty Corp purchased by The Cities Group. The Cities Group acts as an administrator, claim adjuster and provides other risk management services as provided by State law. Each member of The Cities Group pays a premium commensurate with the level of coverage requested and shares surpluses and deficits proportionately to its participation in The Cities Group. During the year ended June 30, 2023, the City paid The Cities Group $2,489 in premium. Financial Statements may be obtained from The Cities Group, P.O.
Box 111, Burlingame, CA 94011-0111.
312
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
91 14. HEALTH, GENERAL LIABILITY, AND WORK ERS’ COMPENSATION COVERAGE, Continued C. Liability for Uninsured Claims
The GASB requires municipalities to record their li ability for uninsured claims and reflect the current portion of this liability as expenditures in their fi nancial statements. As discussed above, the City has coverage for such claims, but it has retained the risk for the deductible or the uninsured portion of these claims in the PLAN JPA and The Cities Group plans. GASB Statement No. 10, "Financial Reporting for Risk Financing and Related Insurance Issues" require that this amount be separately identified and recorded as a liability.
The City's liability for uninsured claims, limited to ge neral liability and workers compensation claims as discussed above, includes a provision for incurred b u t n o t r e p o r t e d ( I B N R ) l o s s e s . T h i s a m o u n t w a s estimated based on claims experience. The reserve recorded, $310,965, is adequate to cover IBNR claims.
Therefore no adjustment was made in fiscal year 2022-2023 as the City's exposure is for the $5,000 deductible per general liability claim.
15. JOINT POWERS AGREEMENTS
The City participates in joint ventures discussed belo w through separate entities established under the Joint Exercise of Powers Act of the State of California. As separate legal entities, these entities exercise full powers and authorities within the scope of the related Join t Powers Agreements including the preparation of annual budgets, accountability for all funds, the power to make and execute contracts and the right to sue and be sued. Each joint venture is governed by a board consisting of representatives from member municipalities. Each board controls the operations of the respective joint venture, including selection of management and approval of operating budgets, inde pendent of any influence by member municipalities beyond their representation on that board. Obligations and liabilities of these joint ventures are not the City's responsibility and the City does not have an equity interest in the assets of each joint venture except upon dissolution of the joint venture.
A. Animal Control Services
The Cities of Dublin, Pleasanton, and Livermore and the County of Alameda have entered a joint powers agreement, dated September 15, 1992, under which Alam eda County constructed an animal shelter facility on County's property. The agreement provided that the County would retain ownership of the land and that each participating agencies would receive an equity interest in the facility. Certificates of Participation were issued to construct the facility. Under the agreement the entities will share in the debt service costs of the project based upon their use of the animal shelter.
In fiscal year 2022-2023, the City contributed $220,3 84 or 11.39% toward the annual operating shelter services and $33,485 representing 2.63% of the animal field service expenditures.
The City has not recorded an equity interest for the animal shelter agreement. As noted above the ongoing financial interest is limited to the statistics of live animals handled in the appropriate fiscal year. No Joint Powers Authority was established as part of this agre ement therefore, separate fi nancial statements are not issued.
313
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
92 16. OTHER COMMITMENTS AND CONTINGENT LIABILITIES
The City participates in several Federal and State grant programs. These programs have been audited by the City's independent accountants in accordance with the provisions of the Federal Single Audit Act and applicable State requirements. 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.
The City is a defendant in a number of lawsuits that have arisen in the normal course of business, the outcome of which cannot be predicte d with certainty. In the opinion of the City Attorney, these actions when finally adjudicated will not have a material adverse effect on the financial position of the City.
A. Reimbursements to the City of Pleasanton
On January 23, 1996, the City adopted a fee for the purpose of reimbursing the City of Pleasanton for the costs of making improvements to the interchanges of Interstate 580 at Hacienda Drive and Tassajara Road/Santa Rita Road that benefit development in both Pleasanton and future development in Eastern Dublin. The Cities entered into an agreement on November 3, 1998, to allow for an automatic annual escalator factor in the amount of the fee assesse d to develo pers based upon the L AIF interest rate and t o repay the City of Pleasanton. The amount of the co ntingent liability outstanding at June 30, 2023, was $2,620,601 which is net of the $48,595 in payments ma de by the City to reduce this contingent liability during the year. The accounting for the amount due is not recorded as indebtedness since future payments are contingent upon the future collection of development fees assessed for reimbursement of these improvements.
B. Other Development Agreements
The City entered into several agreements with various developers and merchant builders who are developing numerous residential and commercial projects throughout the City. The City agreed to grant the developers' impact fee credits since the developers constructed certain improvements beyond what was needed to serve their specific projects. The value of credits does not increase for inflation nor do they accrue interest. Any unused credits may be used by the deve lopers on other projects located within the Traffic Impact Fee area. The value of the credits as of June 30, 2023 was $98,292,913. The reduction of $1,100,375 to the credit balance was mainly due to credit used for the fiscal years which was $1,780,103.
C. Alameda County Fire Department (ACFD)
The City of Dublin contracts to have the Alameda County Fire Department to provide fire services. As part of the contract, the City pays for its share of ACFD's retiree health plan and retirement plan. In 2012 ACFD began working with CalPERS to create side funds within its OPEB trust to allow for member agencies to fund their share of the obligation. In preparation fo r this, in June 2012 the City Council authorized a contribution of $6.487 million towards the liability th at was then moved to a General Fund Reserve, which was reclassified as an assigned fund balance upon the City's implementation of GASB Statement No. 54.
Since then, the City continued to add funds to that fund balance assignment. 314
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
93 16. OTHER COMMITMENTS AND CONTINGENT LIABILITIES, Continued C. Alameda County Fire Department (ACFD), Continued
After ACFD successfully implemented the OPEB trust side funds, the City was notified that based on the most recent actuarial valuation dated June 30, 202 1, the City’s Actuarial Accrued Liability (AAL) for benefits was $12,696,000 and the Actuarial Value of Plan Asset was $14,419,000 resulting in a net OPEB asset of $1,723,000. At June 30, 2023, the Actuarial Value of the Plan Asset was $14,870,089.
17. DEBT WITHOUT GOVERNMENT COMMITMENT
On August 31, 2017, the City issued $32,740,000 of City 2017 Improvement Area No. 1 Special Tax Bonds by and through its Community Facilities District No. 201 5-1 (Dublin Crossing) Improvement Area No. 1. The Bonds are special tax obligations of the City, authoriz ed pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, being California Government Code Section 53311, et se q. The bonds were issued to construction and acquire certain public facilities and/or reimburse the payment of fees for capital improvements.
On July 18, 2019 the City issued $37,745,000 of City 2019 Improvement Area No. 2 Special Tax Bonds by and through its Community Facilities District No. 2015-1 (Dublin Crossing) Improvement Area No. 2. The Bonds are special tax obligations of the City, authoriz ed pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, being California Government Code Section 53311, et se q. The bonds were issued to construction and acquire certain public facilities and/or reimburse the payment of fees for capital improvements.
On August 4, 2021 the City issued $26,000,000 of Ci ty 2021 Improvement Area No. 3 Special Tax Bonds by and through its Community Facilities District No. 201 5-1 (Dublin Crossing) Improvement Area No. 3. The Bonds are special tax obligations of the City, authoriz ed pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, being California Government Code Section 53311, et se q. The bonds were issued to construction and acquire certain public facilities and/or reimburse the payment of fees for capital improvements.
In October 2022, the City issued special tax bonds in the total amount of $21,720,000 through its Community Facilities District No. 2015-1 (Dublin Crossing) Improvement Area No. 4. The proceeds are to be used for public improvements and fees related to the Boulevard Project.
The Bonds are not general obligations of the City nor any political subdivision and the full faith and credit of the City is not pledged for the repayment thereof. Since these debts do not constitute an obligation of the City and the City is not obligated to make payment beyond the available bond reserves, these bonds have not been reflected in the long-term debt in the accompanying financial statements. The outstanding indebtedness on June 30, 2023 was $95,985,000.
315
City of Dublin
Notes to Basic Financial Statements
For the year ended June 30, 2023
94 18. TAX ABATEMENTS
The City has entered into multiple sales tax reimburs ement agreements for the purpose of attracting new businesses within the City through the construction and improvement of property sites. The City is expected to make annual reimbursement payments over a five (5) to ten (10) year period in which the amount of each reimbursement payment commitment is based on total sales tax received and derived using formulas in the approved agreements.
For financial reporting purposes, the GASB Statement No. 77 defines a tax abatement as resulting from an agreement between a government and an individual or entity in which the government promises to forgo tax revenues and the individual or entity promises to subsequently take a specific action that contributes to economic development or otherwise benefits the government or its citizens. According to GASB Statement No. 77, the substance of these sales tax reimbursement agreements meets the definition of “tax abatements." For the fiscal year ended June 30, 2023, under these sales-tax reimbursement agreements, the City has abatements totaling $321,750.
Pursuant to the Sales and Use Tax law (chapter 8 - Article 1 - section 7056), in order to protect the confidential information of sales taxes collected and ab atements provided to each of the specific agencies, the City has presented the aggregate amount abated during the current fiscal year.
19. SUBSEQUENT EVENTS
In November 2023, the City Council authorized the i ssuance of special tax bonds in an amount not to exceed $18.75 million through its Community Facilities District No. 2015-1 (Dublin Crossing) Improvement Area No. 5. The proceeds are to be used for public improvements and fees related to the Boulevard Project.
It is anticipated that the bonds will be issued in December 2023. 316
95 REQUIRED
SUPPLEMENTARY INFORMATION
317
96 318
City of Dublin
Required Supplementary Information
For the year ended June 30, 2023
97 1. DEFINED BENEFIT PENSION PLAN
A. Schedule of the City’s Proportionate Share of the Net Pension Liability – Last 10 Years* 319
City of Dublin
Required Supplementary Information
For the year ended June 30, 2023
98 1. DEFINED BENEFIT PENSION PLAN, Continued
B. Schedule of Contributions – Last 10 Years*
320
City of Dublin
Required Supplementary Information
For the year ended June 30, 2023
99 2. OTHER POST EMPLOYMENT BENEFITS (OPEB)
A. City Retiree Health Plan - Schedule of Changes in Net OPEB Liability and Related Ratios During the Measurement Period – Last 10 Years (1)
(1) Fiscal year 2018 was the 1st year of implementation.
Measurement Period 2022 2021 2020 2019 2018 2017
Total OPEB Liability
Service Cost 483,571 $ 895,299 $ 869,222 $ 843,905 $ 852,382 $ 827,000 $ Interest on the total OPEB liability 1,158,191 1,164,147 1,103,053 1,169,182 1,099,559 1,032,000 Differences between expected and actual
experience - (775,744) - (1,450,926) - - Changes of assumptions 1,459,903 307,694 - (716,501) - - Benefit payments (1,185,363) (1,065,659) (976,033) (882,052) (776,911) (805,000) Net change in total OPEB liability 1,916,302 525,737 996,242 (1,036,392) 1,175,030 1,054,000 Total OPEB liability - beginning 18,789,617 18,263,880 17,267,638 18,304,030 17,129,000 16,075,000 Total OPEB liability - ending (a) 20,705,919$ 18,789,617 $ 18,263,880 $ 17,267,638 $ 18,304,030 $ 17,129,000 $ Plan Fiduciary Net Position
Contributions - employer 252,514 $ 411,587 $ 1,116,396 $ 1,073,623 $ 1,588,507 $ 1,878,000 $ Net investment income (3,327,511) 6,149,340 763,014 1,244,479 1,431,381 1,665,000 Benefit payments (1,185,363) (1,065,659) (976,033) (882,052) (776,911) (805,000) Administrative expense (7,026) (8,444) (10,512) (6,155) (33,206) (8,000) Net change in plan fiduciary net position (4,267,386) 5,486,824 892,865 1,429,895 2,209,771 2,730,000 Plan fiduciary net position - beginning 27,838,355 22,351,531 21,458,666 20,028,771 17,819,000 15,089,000 Plan fiduciary net position - ending (b) 23,570,969$ 27,838,355 $ 22,351,531 $ 21,458,666$ 20 ,028,771$ 17,819,000$ Net OPEB liability/(asset) - ending (a) - (b) (2,865,050)$ (9,048,738)$ (4,087,651)$ (4,191,028)$ (1,724,741)$ (690,000)$ Plan fiduciar y net position as a percenta ge of the
total OPEB liability 113.8% 148.2% 122.4% 124.3% 109.4% 104.0% Covered-employee payroll 11,706,708$ 10,751,196 $ 10,533,380 $ 10,037,794 $ 9,997,000 $ 10,431,000 $ Net OPEB liabilit y as a percenta ge of covered-
employee payroll -24.5% -84.2% -38.8% -41.8% -17.3% -6.6% 321
City of Dublin
Required Supplementary Information
For the year ended June 30, 2023
100
2. OTHER POST EMPLOYMENT BENEFITS (OPEB), Continued
B. Schedule of City Retiree Health Plan Contributions – Last 10 Years (1) 322
SUPPLEMENTARY INFORMATION
101 323
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102 324
Schedule of Budget Versus Actual Revenues By Sources
General Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Property taxes 55,163,000$ 56,463,000$ 59,056,139$ 2,593,139$ Sales tax 25,994,445 26,994,445 28,580,315 1,585,870 Other taxes 7,960,000 7,960,000 8,729,684 769,684 Intergovernmental 290,000 336,436 352,165 15,729 Licenses and permits 351,373 351,373 323,098 (28,275) Charges for services:
General government 1,627,000 1,627,000 1,936,864 309,864 Police 20,750 20,750 32,943 12,193 Fire 1,160,713 1,185,713 2,105,820 920,107 Public works and transportation 18,000 36,000 57,491 21,491 Parks and community services 3,669,090 4,080,160 4,514,212 434,052 Community development 571 571 985 414 Investment income (loss): 1,510,000 2,310,000 5,363,445 3,053,445 Use of property 1,477,330 1,653,427 2,193,822 540,395 Unrealized gain/(loss) on investment - - (3,053,407) (3,053,407) Fines and forfeitures 85,000 65,000 80,117 15,117 Development revenue 7,702,334 7,538,555 8,588,005 1,049,450 Other revenues 1,758,056 1,944,639 2,951,647 1,007,008 Total revenues 108,787,662$ 112,567,069$ 121,813,345$ 9,246,276$ City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
103 325
Schedule of Budget Versus Actual Departmental Expenditures General Fund
For the year ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
General government:
City council 543,506$ 543,506$ 505,867$ 37,639$ City manager 1,709,892 1,709,892 1,454,511 255,381 City clerk 763,641 763,641 615,502 148,139 Election 217,368 217,368 129,288 88,080 Human resources 1,018,027 1,199,091 1,083,961 115,130 Insurance 2,730,019 2,931,944 2,350,026 581,918 Finance 2,408,430 2,418,430 2,149,430 269,000 Non-departamental 2,043,600 2,544,259 670,580 1,873,679 Disaster preparedness 214,555 231,790 175,653 56,137 Crossing guards 307,732 338,549 327,021 11,528 Animal control 319,995 317,457 253,869 63,588 Waste management 25,968 25,968 24,043 1,925 Community TV 133,589 136,127 134,462 1,665 Communications 582,769 582,832 527,942 54,890 Economic development 783,486 1,006,489 684,467 322,022 Human services 192,560 192,560 151,899 40,661 Library services 1,077,474 1,084,574 993,594 90,980
Dougherty Regional Fire Authority 4,298,000 4,298,000 4,254,392 43,608 Sub-total 19,370,611 20,542,477 16,486,50 7 4,055,970
Police:
Police operations 24,739,469 24,515,161 23,967,298 547,863 Police operations support 2,836,472 2,878,054 2,427,297 450,757 Sub-total 27,575,94 1 27,393,215 26,394,595 998,620
Fire:
Fire operations 15,421,020 15,581,020 15,332,840 248,180 Fire prevention 556,030 556,030 514,685 41,345
Fire station maintenance 300,375 287,869 268,794 19,075 Sub-total 16,277,425 16,424,919 16,116,319 308,600
Public works:
Maintenance 13,474,213 13,991,095 12,744,316 1,246,779
Engineering 3,459,481 3,677,198 3,134,728 542,470
Public works administration 1,461,591 1,976,965 1,468,724 508,241 Transportation ----
Environmental services 903,800 1,079,475 781,292 298,183 Sub-total 19,299,085 20,724,733 18,129,060 2,595,673
City of Dublin
Budgeted Amounts
104 326
Schedule of Budget Versus Actual Departmental Expenditures (Continued) General Fund
For the year ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Parks and community services:
Cultural and special events 1,064,109 1,135,609 1,139,298 (3,689) Heritage Center and programs 325,917 295,917 284,028 11,889 Parks and community services administration 1,962,823 1,956,323 1,957,463 (1,140) Shannon Center and programs 1,088,740 1,088,740 975,487 113,253 Stager and other facility operations 1,134,880 1,174,880 1,172,334 2,546 Senior Center and programs 682,675 667,675 629,030 38,645 The Wave and programs 2,194,691 2,364,970 2,104,782 260,188 Sub-total 8,453,835 8,684,114 8,262,422 421,692
Community development:
Planning 2,848,658 3,164,270 2,356,892 807,378
Building and safety 3,320,242 3,323,242 2,904,937 418,305 Housing -- 2 1 (21)
Sub-total 6,168,900 6,487,512 5,261,850 1,225,662
Debt service:
Principal 655,000 655,000 655,000 -
Interest and fiscal charges 678,050 678,050 678,050 -
Sub-total 1,333,050 1,333,050 1,333,050 -
Total current expenditures 98,478,847 101,590,020 91,983,803 9,606,217 Total expenditures 98,478,847$ 101,590,020$ 91,983,803$ 9,606,217$ City of Dublin
Budgeted Amounts
105 327
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106 328
The General Improvements Projects Capital Projects Fund - is used to manage the programming of funds and activities associated with major Capital Improvements Projects. The fund accumulates resources for capital expenditures and utilizes those resources to support projects that are general in nature and are not Streets, Parks, or Community Improvements Projects.
The Parks Projects Capital Projects Fund - is used to manage the programming of funds and activities associated with major Capital Improvements Projects. The fund accumulates resources for capital expenditures and utilizes those resources to support projects that would construct, improve, or enhance the City's parks and facilities.
The Street
s Projects Capital Pro jects Fund - is used t o manage the programming of fund and activities associated with major Capital Improvements Projects. The fund accumulates resources for capital expenditures and utilizes those resources to support projects that would construct, improve, or enhance the City's trails, highways, streets, roads, bridges, as well as street lighting and drain s
ystems.
The Public Art Capital Projects Fund - The Public Art Fund was created following th e adoption of Dublin Municipal Code 8.58 “Public Art Program Contribution.” The purpose of the adoption of the ordinance, and Public Art Fund fund is to: promote the public interest and general welfare through the acquisition, installation, maintenance and pro motion of public art; establish requirements and procedures for developer contributions to public art; provide funding to support the acquisition, installation, maintenance and promotion of public art; and implement the goals of the Public Art Master Plan.
Bi-Annually Staff identifies and develops Public Ar tp r o j e c t st h a tw i l lb ef u n d e du t i l i z i n gt h eP u b l i c Art Fund. These projects are included in the City’s Capital Improvement Program and subject to City Council approval. Since inception, the Public Art Fund has been funded entirely by developer contributions that are sub
ject to the Public Art Program Contribution ordinance.
The Public Facilities Impact Fees Capital Projects Fund - is used to account for fees received from developers of properties, which can only be used for the design, development and construction of new public facilities within the City.
The Fire Impact Fees Capital Projects Fund - is used to account for impact fees received from developers of properties, which can only be used for the design, development and construction of fire capital expansion projects within the City.
The Traffic Impact Fees Capital Projects Fund - is used to account for impact fees received from developers of properties, which can only be used for the design, development and construction of street and highway projects which serve as part of the City's transportation network.
The Dublin Crossing Contribution Capital Projects Fund - accounts for community benefit payments specific to the Dublin Crossing Project, separate from any developer impact fees generated by the project.
BUDGETED MAJOR GOVERNMENTAL FUNDS OTHER THAN
GENERAL FUND AND SPECIAL REVENUE FUNDS
107 329
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual General Improvement Projects Capital Projects Fund
For the year ended June 30, 2023
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
EXPENDITURES:
Capital outlay:
General improvements 5,660,495$ 32,529,391$ 11,829,805$ 20,699,586$ Total expenditures 5,660,495 32,529,391 11,829,805 20,699,586 OTHER FINANCING SOURCES (USES):
Transfers in 5,660,495 32,529,391 11,829,805 (20,699,586) Total other financing sources (uses) 5,660,495 32,529,391 11,829,805 (20,699,586) Net change in fund balance -$ -$ - -$ FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
Budgeted Amounts
108 330
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Parks Project Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
EXPENDITURES:
Capital outlay:
Parks 7,193,465$ 24,734,795$ 4,539,778$ 20,195,017$ Total expenditures 7,193,465 24,734,795 4,539,778 20,195,017 OTHER FINANCING SOURCES (USES):
Transfers in 7,193,465 24,734,795 4,539,778 (20,195,017) Total other financing sources (uses) 7,193,465 24,734,795 4,539,778 (20,195,017) Net change in fund balance -$ -$ - -$ FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
109 331
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Streets Projects Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
EXPENDITURES:
Capital outlay:
Streets 9,999,924$ 63,541,908$ 13,053,219$ 50,488,689$ Total expenditures 9,999,924 63,541,908 13,053,219 50,488,689 OTHER FINANCING SOURCES (USES):
Transfers in 9,999,924 63,541,908 13,053,219 (50,488,689) Total other financing sources (uses) 9,999,924 63,541,908 13,053,219 (50,488,689) Net change in fund balance -$ -$ - -$ FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
110 332
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Public Art Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
EXPENDITURES:
Capital outlay:
Public art 150,000$ 1,445,860$ 474,814$ 971,046$ Total expenditures 150,000 1,445,860 474,814 971,046 OTHER FINANCING SOURCES (USES):
Transfers in 150,000 1,445,860 474,814 (971,046) Total other financing sources (uses) 150,000 1,445,860 474,814 (971,046) Net change in fund balance -$ -$ - -$ FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
111 333
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Public Facilities Impact Fees Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 342,550$ 342,550$ 721,702$ 379,152$ Development revenue 535,080 535,080 1,212,005 676,925 Total revenues 877,630 877,630 1,933,707 1,056,077 EXPENDITURES:
Current:
General government - 21,300 12,250 9,050 Total expenditures - 21,300 12,250 9,050 REVENUES OVER (UNDER) EXPENDITURES 877,630 856,330 1,921,457 1,065,127 OTHER FINANCING SOURCES (USES):
Transfers out (6,353,240) (25,823,825) (7,356,763) 18,467,062 Total other financing sources (uses) (6,353,240) (25,823,825) (7,356,763) 18,467,062 Net change in fund balance (5,475,610)$ (24,967,495)$ (5,435,306) 19,532,189$ FUND BALANCE:
Beginning of year 21,315,682
End of year 15,880,376$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
112 334
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Fire Impact Fees Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 2,000$ 2,000$ 1,609$ (391)$ Development revenue 37,674 37,674 75,293 37,619 Total revenues 39,674 39,674 76,902 37,228 EXPENDITURES:
Current:
General government - 200,000 200,000 - Total expenditures - 200,000 200,000 - REVENUES OVER (UNDER) EXPENDITURES 39,674 (160,326) (123,098) 37,228 Net change in fund balance 39,674$ (160,326)$ (123,098) 37,228$ FUND BALANCE:
Beginning of year 257,707
End of year 134,609$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
113 335
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Traffic Impact Fees Capital Projects Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 298,000$ 298,000$ 580,265$ 282,265$ Development revenue 147,896 147,896 1,559,605 1,411,709 Other revenues - - 600,000 600,000 Total revenues 445,896 445,896 2,739,870 2,293,974 EXPENDITURES:
Current:
General government 300,000 300,000 3,059 296,941 Total expenditures 300,000 300,000 3,059 296,941 REVENUES OVER (UNDER) EXPENDITURES 145,896 145,896 2,736,811 2,590,915 OTHER FINANCING SOURCES (USES):
Transfers out (4,071,440) (24,284,259) (1,788,206) 22,496,053 Total other financing sources (uses) (4,071,440) (24,284,259) (1,788,206) 22,496,053 Net change in fund balance (3,925,544)$ (24,138,363)$ 948,605 25,086,968$ FUND BALANCE:
Beginning of year 29,181,771
End of year 30,130,376$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
114 336
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Dublin Crossing Contribution Capital Project Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 80,000$ 80,000$ 251,614$ 171,614$ Total revenues 80,000 80,000 251,614 171,614 OTHER FINANCING SOURCES (USES):
Transfers out - (800,000) (450,000) 350,000 Total other financing sources (uses) - (800,000) (450,000) 350,000 Net change in fund balance 80,000$ (720,000)$ (198,386) 521,614$ FUND BALANCE:
Beginning of year 12,384,221
End of year 12,185,835$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
115 337
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116 338
Public Safety:
Special Criminal Activity established to account for receipt of funds derived from asset forfeitures.
Vehicle Abatement established to account for the use of funds received from vehicle registration of Dublin residents for the towing of abandoned vehicles in city limits.
Supplemental Law Enforcement (SLES/COPS) established to account for police expenditures funded by a State grant.
Traffic Safety established to account for the receipt of traffic fines and traffic safety expenditures.
Emergency Medical Services (EMS) established to account for excise taxes received to fund the costs of providing Emergency Medical Services.
Enforcement Grants established to account for miscellaneous grants received for police expenditures not reported in the above funds.
Transportation:
State Gas Tax established to account for the receipt of state gasoline taxes and expenditures.
SAFETEA-LU e s t a b l i s h e dt oa c c o u n tf o rt h er e v e n u er e c e i v e df r o mt h eU . S .D e p a r t m e n to fT r a n s p o r t a t i o n under the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legal for Users fund.
Measure B Sales Tax - Local Streets established to account for an Alameda County voter sales tax used for improvements on streets and roads.
Measure B Sales Tax - Bike/Pedestrian established to account for an Alameda County voter approved increase in sales tax used for bike and pedestrian related projects.
Measure B Grants established to account for transportation projects financed by grants, funded by an Alameda County voter approved increase in sales tax.
Measure BB Sales Tax - Streets and Roads established to account for an Alameda County voter approved increase in sales tax used for improvements on streets and roads.
Measure BB Sales Tax - Bike/Pedestrian established to account for Alameda County voter approved increase in sales tax used for bike and pedestrian related projects.
Measure BB Grants Fund - established to account for Alameda County Transportation Commission (ACTC) discretionary funding (versus direct funding) from 2014 voter-approved increase in sales tax used for improvements on bike and pedestrian projects.
Transportation Fund for Clean Air (TFCA) established to account for a portion of vehicle registration fee used for achieving the reduction of motor vehicle emissions.
Road Maintenance & Rehabilitation Account (RMRA) established to account for Senate Bill 1 that increases gasoline and diesel taxes and vehicle registration fees t o fund for basic road maintenance, rehabilitation, and critical safety projects on local streets and roads.
NON-MAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than major capital projects) that are legally restricted to expenditures for specific purposes. 117 339
ACTC Vehicle Registration Fee established to account for an Alameda County Transportation Commission (ACTC) voter approved increase in vehicle registration fee that is distributed by ACTC to be used for street road system maintenance.
TDA established to account for the financial activities associated with allocations funded by the State of California Transportation Development Act (TDA) for the Pedestrian/Bicycle Projects.
Environmental:
Garbage/Recycling established to account for the following activities:
Measure D Recycling established to account for the use of funds received which are levied by the County pursuant to a charter amendment and are provided for recycling and related activities. This fund also accounts for other locally derived funds for recycling related activities.
Garbage Service established to account for the use of funds received which are levied by the county on behalf of the City for garbage pitch-up and removal and recycling services.
Local Recycling established to account for locally derived funds collected for a commercial organic and recycling program and activities retained by the City at the end of the franchise held by Waste Management Inc. These funds are independent of the funds distributed by Stop Waste pursuant to the Alameda County Recycling Measure.
AVI Economic Benefit/business Assistance Program established to account for the grant received from Amador Valley Industry and to provide business owners funding for eligible environmental related improvements.
Storm Water Management established to account for the following activities:
Storm Water Management established to account for the funds received from the State and designated specifically for the use of storm water related activities.
Village Parkway Storm Water Management established to account for funds designated for management of the Village Parkway area storm water units.
Box Culvert established to account for the funds designated for the maintenance and repairs of box culvert in the East Dublin area.
Parks, Cultural, and Arts:
Public Art established to account for the fees received from developers of properties, which can only be used for the purchase design, development, and construction of Public Art projects within the City of Dublin.
Miscellaneous Special Revenue established to account for the following activities:
Cable TV Facilities established to account for Cable TV Facilities fees collected from Cable Television providers and passed through to the City for local cable television as allowed under State and Federal franchising laws.
Noise Mitigation established to account for the fees received from developers of properties, which can only be used for the noise mitigation measures.
SPECIAL REVENUE FUNDS, Continued
NON-MAJOR GOVERNMENTAL FUNDS
118 340
Citywide Events (Customer Service) Fund established to account for event ticket sales and donations, to be spent on special events citywide.
Community Development Block Grant (CDBG) used to account for grants and expenditures related to Community Development Block Grants received.
HCD Housing Related Parks Grant established to account for a Housing-Related Park (HRP) Grant funding from the Department of Housing and Community Development pursuant to the Housing and Emergency Shelter Trust Fund Act of 2006 (Proposition IC.)
State Grant Park used to account for local assistance grant funding from the State for park constructions.
Building Homes and Jobs Act established o account for funding from California Department of Housing and Community Development (HCD) to increase the affordable housing stock in California.
State Housing Grant established to account for Local Action Planning Grants (Leap) grants allocated by the State Housing and Community Development Department for the preparation and adopton of planning documents and process improvements that accelera te housing production and facilitate compliance to implement the sith-cycle Regional Housing Needs Assessment.
Federal COVID-19 Financial Assistance established to account for emergency funding from the federal awarding agencies with options for administrative relief to be used at the discretion of the federal awarding agency in response to the COVID-19 pandemic.
The American Rescule Plan Act Fund is used to account for funds authorized under the Federal American Recovery Plan Act (ARPA) to cover the costs of COVID-19 response as well as for making any necessary investments in infrastructure.
Mesure RR - Safe Routes to BART is used to account for funds allocated by Bay Area Rapid Transit (BART) for using voter approved Measure RR capital fund to help local agencies improve access for BART customers travelling to BART stations by walking or biking.
Maintenance Districts established to account for revenue and related expenditures of lighting and landscape districts.
Federal Grants - General accounts for revenue and related expenditures of federal grants.
Energy Improvement Lease Revenue Bond Fund accounts for the funds received from the City's lease revenue bond for energy improvements and related expenditures.
CAPITAL PROJECT FUNDS
SPECIAL REVENUE FUNDS, Continued
NON-MAJOR GOVERNMENTAL FUNDS
Capital Project Funds are used to account for financial resources ussed for the acquisition and construction of capital projects.
119 341
City of Dublin
Combining Balance Sheet
Governmental Funds
June 30, 2023
Special Supplemental Emergency
Criminal Vehicle Law Traffic Medical
Activity Abatement Enforcement Safet y Services
ASSETS
Cash and investments 1,488,836$ 365,272$ 364,852$ 22,773$ 279,600$ Accounts receivable - - - 10,898 669 Notes receivable - - - - - Total assets 1,488,836$ 365,272$ 364,852$ 33,671$ 280,269$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable 5,709$ - $ - $ - $ - $ Accrued wages and other payroll liabilities -----
Deposits payable 1,355,333 - - - -
Contract retention payable -----
Unearned revenue -----
Due to other funds -----
Total liabilities 1,361,042 - - - - Fund Balances:
Restricted:
Public safety programs 127,794 365,272 364,852 33,671 280,269 S t r e e t m a i n t e n a n c e a n d c o n s t r u c t i o n ----- Health and welfare program
s -----
Culture and leisure -----
Capital improvement projects -----
U n a s s i g n e d -----
Total fund balances 127,794 365,272 364,852 33,671 280,269 Total liabilities, deferred inflows of
resources, and fund balances 1,488,836$ 365,272 $ 364,852 $ 33,671 $ 280,269 $ Special Revenue Funds
120 342
City of Dublin
Combining Balance Sheet (Continued)
Governmental Funds
June 30, 2023
Measure B Measure B
Enforcement Sales Tax Sales Tax
Grants State Gas Tax SAFETEA-L U Local Streets Bike/Pedestrian ASSETS
Cash and investments 83,466$ 3,340,146 $ - $ 98,984$ 68,179 $ Accounts receivable 4,913 162,196 - - - Notes receivable - - - - - Total assets 88,379$ 3,502,342$ - $ 98,984$ 68,179 $
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable -$ 259,027$ - $ - $ - $ Accrued wages and other payroll liabilities -----
D e p o s i t s p a y a b l e -----
Contract retention payable - 7 ,532---
Unearned revenue -----
Due to other funds - - 40,000 - -
Total liabilities - 266,559 40,000 - - Fund Balances:
Restricted:
Public safety programs 88,379----
Street maintenance and construction - 3,235,783 - 98,984 68,179 Health and welfare programs -----
Culture and leisure -----
Capital improvement projects -----
Unassigned - - (40,000 ) --
Total fund balances 88,379 3,235,783 (40,000) 98,984 68,179 Total liabilities, deferred inflows of
resources, and fund balances 88,379$ 3,502,342$ - $ 98,984$ 68,179 $ Special Revenue Funds
121 343
City of Dublin
Combining Balance Sheet (Continued)
Governmental Funds
June 30, 2023
Measure BB Measure BB Transportation
Measure B Sales Tax Sales Tax Measure BB for Clean Air
Grants Streets and Roads Bike/Pedestrian Grant s (TFCA) ASSETS
Cash and investments 191,783$ 1,110,336 $ 573,65 1$ -$ 8,057$ Accounts receivable - 258,641 89,158 507,956 - Notes receivable - - - - - Total assets 191,783$ 1,368,977$ 662,809$ 507,956$ 8,057$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable -$ - $ - $ - $ - $ Accrued wages and other payroll liabilities -----
D e p o s i t s p a y a b l e -----
Contract retention payable -----
Unearned revenue -----
Due to other funds - - - 481,995 -
Total liabilities - - - 481,995 - Fund Balances:
Restricted:
Public safety programs -----
Street maintenance and construction 191,783 1,368,977 662,809 25,96 1 8,057 Health and welfare programs -----
Culture and leisure -----
Capital improvement projects -----
U n a s s i g n e d -----
Total fund balances 191,783 1,368,977 662,809 25,961 8,057 Total liabilities, deferred inflows of
resources, and fund balances 191,783$ 1,368,977 $ 662,809 $ 507,956 $ 8,057 $ Special Revenue Funds
122 344
City of Dublin
Combining Balance Sheet (Continued)
Governmental Funds
June 30, 2023
ACTC AVI Economic
Road Maint & Vehicle Benefit/Business
Rehab Account Registration Garbage/ Assistance
(RMRA) Fee TDA Recyclin g Program
ASSETS
Cash and investments 2,118,016$ 232,069$ 17,774$ 941,951$ 281,402$ Accounts receivable 290,216 62,045 - 79,214 - Notes receivable - - - - 37,464 Total assets 2,408,232$ 294,114$ 17,774$ 1,021,165$ 318,866$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable -$ 4,903$ - $ 44,102$ - $ Accrued wages and other payroll liabilities -----
D e p o s i t s p a y a b l e -----
Contract retention payable -----
Unearned revenue -----
Due to other funds -----
Total liabilities - 4,903 - 44,102 - Fund Balances:
Restricted:
Public safety programs -----
Street maintenance and construction 2,408,232 289,21 1 17,774 - - Health and welfare programs - - - 977,063 -
Culture and leisure ---- 318,866
Capital improvement projects -----
U n a s s i g n e d -----
Total fund balances 2,408,232 289,211 17,774 977,063 318,866 Total liabilities, deferred inflows of
resources, and fund balances 2,408,232$ 294,114 $ 17,774 $ 1,021,165$ 318,866 $ Special Revenue Funds
123 345
City of Dublin
Combining Balance Sheet (Continued)
Governmental Funds
June 30, 2023
Storm Miscellaneous Community
Water Box Special Development
Management Culvert Public Art Revenu e Block Grant
ASSETS
Cash and investments 233,093$ 406,54 1$ 3,499,630$ 539,297$ 82$ Accounts receivable - - - 28,746 46,169 Notes receivable - - - - - Total assets 233,093$ 406,541$ 3,499,630$ 568,043$ 46,251$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable -$ - $ 1,500$ - $ 16,127$ Accrued wages and other payroll liabilities -----
Deposits payable - - - 615 -
Contract retention payable -----
Unearned revenue -----
Due to other funds - - - - 23,524
Total liabilities - - 1,500 615 39,651 Fund Balances:
Restricted:
Public safety programs -----
Street maintenance and construction 233,093 406,54 1 --- Health and welfare programs - - - 26,572 6,600
Culture and leisure - - - 540,856 -
Capital improvement projects - - 3,498,130 - -
Unassigned - - - - -
Total fund balances 233,093 406,541 3,498,130 567,428 6,600 Total liabilities, deferred inflows of
resources, and fund balances 233,093$ 406,541$ 3,499,630$ 568,043$ 46,251$ Special Revenue Funds
124 346
City of Dublin
Combining Balance Sheet (Continued)
Governmental Funds
June 30, 2023
Federal
Building State COVID-19 American
State Grant Homes and Housing Financial Rescue
Park Jobs Act Grant Assistanc e Plan Act
ASSETS
Cash and investments -$ - $ - $ 10,08 1$ 3,731,873$ Accounts receivable - - 300,000 - - Notes receivable - - - 48,993 - Total assets -$ -$ 300,000$ 59,074$ 3,731,873$
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable -$ 837 $ 5,926 $ - $ 110,197$ Accrued wages and other payroll liabilities - - - - 5,981 Deposits payable -----
Contract retention payable -----
Unearned revenue - - - - 3,615,695
Due to other funds 557,154 278,013 293,642 - -
Total liabilities 557,154 278,850 299,568 - 3,731,873 Fund Balances:
Restricted:
Public safety programs -----
S t r e e t m a i n t e n a n c e a n d c o n s t r u c t i o n ----- Health and welfare programs - - 432 59,074 -
Culture and leisure -----
Capital improvement projects -----
Unassigned (557,154 ) (278,850) ---
Total fund balances (557,154) (278,850) 432 59,074 - Total liabilities, deferred inflows of
resources, and fund balances -$ - $ 300,000$ 59,074 $ 3,731,873$ Special Revenue Funds
125 347
City of Dublin
Combining Balance Sheet (Continued)
Governmental Funds
June 30, 2023
Measure RR - 1983-1 1983-2 1986-1 1997-1
Safe Routes Street Stagecoach Dougherty Santa Rita
to BART Lighting Landscape Landscape Landscape
ASSETS
Cash and investments -$ 710,337$ 431,475 $ 661,319 $ 1,443,598 $ Accounts receivable - 1,054 493 7 588 Notes receivable - - - - - Total assets -$ 711,391$ 431,968 $ 661,326 $ 1,444,186 $
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable -$ 24,229$ 21,547 $ 17,692 $ 144,116 $ Accrued wages and other payroll liabilities -----
Deposits payable - - - - -
Contract retention payable -----
Unearned revenue -----
Due to other funds -----
Total liabilities - 24,229 21,547 17,692 144,116 Fund Balances:
Restricted:
Public safety programs -----
Street maintenance and construction - 687,162 410,42 1 643,634 1,300,070 Health and welfare programs -----
Culture and leisure -----
Capital improvement projects -----
Unassigned - - - - -
Total fund balances - 687,162 410,421 643,634 1,300,070 Total liabilities, deferred inflows of
resources, and fund balances -$ 711,391$ 431,968 $ 661,326 $ 1,444,186 $ Maintenance Districts
Special Revenue Funds
126 348
City of Dublin
Combining Balance Sheet (Continued)
Governmental Funds
June 30, 2023
Capital
Projects
Fund
Energy
1999-1 Dublin Improvement Total Nonmajor
East Dublin Crossing Federal Grants - Lease Revenue Governmental Street Lighting CFD No. 2017-1 General Bond Funds
ASSETS
Cash and investments 571,453$ 427,076 $ - $ 2,843,045$ 27,096,047 $ Accounts receivable 869 205 93,444 - 1,937,481 Notes receivable - - - - 86,457 Total assets 572,322$ 427,281 $ 93,444 $ 2,843,045$ 29,119,985 $
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable 6,354$ - $ 93,444$ - $ 755,710$ Accrued wages and other payroll liabilities ---- 5 ,981 Deposits payable ---- 1 ,355,948
Contract retention payable ---- 7 ,532
Unearned revenue ---- 3 ,615,695
Due to other funds ---- 1 ,674,328
Total liabilities 6,354 - 93,444 - 7,415,194 Fund Balances:
Restricted:
Public safety programs ---- 1 ,260,237
Street maintenance and construction 565,968 427,28 1 - - 13,049,920 Health and welfare programs ---- 1 ,069,741
Culture and leisure ---- 859,722
Capital improvement projects - - - 2,843,045 6,341,175
Unassigned ---- ( 876,004)
Total fund balances 565,968 427,281 - 2,843,045 21,704,791 Total liabilities, deferred inflows of
resources, and fund balances 572,322$ 427,281 $ 93,444 $ 2,843,045$ 29,119,985 $ Maintenance Districts
Special Revenue Funds
127 349
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
Special Supplemental Emergency
Criminal Vehicle Law Traffic Medical
Activity Abatement Enforcement Safet y Services
REVENUES:
Intergovernmental - $ 96,432$ 177,914 $ - $ - $ Charges for service - - - - - Interest 2,941 7,077 6,557 65 5,415 Fines and forfeitures - - - 127,320 - Development revenue - - - - - Other revenue 80,174 - - - - Special assessments - - - - 210,782 Total revenues 83,115 103,509 184,471 127,385 216,197 EXPENDITURES:
Current:
General government -----
Police 47,650 35,678 100,000 - -
Fire ---- 181,488
Public works --- 3 7,922-
Park and community services -----
Community development - - - - - Total expenditures 47,650 35,678 100,000 37,922 181,488 REVENUES OVER (UNDER) EXPENDITURES 35,465 67,831 84,471 89,463 34,709 OTHER FINANCING SOURCES (USES):
Transfers in - - - - - Transfers out - (29,382) - - - Total other financing sources (uses) - (29,382) - - - Net change in fund balances 35,465 38,449 84,471 89,463 34,709 FUND BALANCES (DEFICITS):
Beginning of year 92,329 326,823 280,381 (55,792) 245,560 End of year 127,794$ 365,272$ 364,852$ 33,671$ 280,269$ Special Revenue Funds
128 350
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
Measure B Measure B
Enforcement Sales Tax Sales Tax Bike
Grants State Gas Tax SAFETEA-L U Local Streets /Pedestrian REVENUES:
Intergovernmental 266,990 $ 1,850,782 $ 621,000 $ - $ - $ Charges for service - - - - - Interest - 79,642 - 10,265 3,961 Fines and forfeitures - - - - - Development revenue - - - - - Other revenue - - - - 1,384 Special assessments - - - - - Total revenues 266,990 1,930,424 621,000 10,265 5,345 EXPENDITURES:
Current:
General government -----
Police 180,135 ----
Fire -----
Public works - 947,233 - - -
Park and community services -----
Community development - - - - - Total expenditures 180,135 947,233 - - - REVENUES OVER (UNDER) EXPENDITURES 86,855 983,191 621,000 10,265 5,345 OTHER FINANCING SOURCES (USES):
Transfers in - - - - - Transfers out - (1,474,073) (661,000) (827,482) (277,206) Total other financing sources (uses) - (1,474,073) (661,000) (827,482) (277,206) Net change in fund balances 86,855 (490,882) (40,000) (817,217) (271,861) FUND BALANCES (DEFICITS):
Beginning of year 1,524 3,726,665 - 916,201 340,040 End of year 88,379$ 3,235,783$ (40,000)$ 98,984$ 68,179$ Special Revenue Funds
129 351
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
Measure BB Measure BB
Sales Tax Sales Tax Transportation
Measure B Streets and Bike/ Measure BB for Clean Air
Grants Roads Pedestrian Grant s (TFCA)
REVENUES:
Intergovernmental - $ 1,458,611$ 502,810 $ 2,600,959 $ 670,959 $ Charges for service - - - - - Interest 3,866 19,983 10,029 40 - Fines and forfeitures - - - - - Development revenue - - - - - Other revenue - - - - - Special assessments - - - - - Total revenues 3,866 1,478,594 512,839 2,600,999 670,959 EXPENDITURES:
Current:
General government - - - - -
Police -----
Fire -----
Public works -- 9 ,341 --
Park and community services -----
Community development - - - - - Total expenditures - - 9,341 - - REVENUES OVER (UNDER) EXPENDITURES 3,866 1,478,594 503,498 2,600,999 670,959 OTHER FINANCING SOURCES (USES):
Transfers in - - - - - Transfers out - (857,954) (246,465) (2,598,350) (197,769) Total other financing sources (uses) - (857,954) (246,465) (2,598,350) (197,769) Net change in fund balances 3,866 620,640 257,033 2,649 473,190 FUND BALANCES (DEFICITS):
Beginning of year 187,917 748,337 405,776 23,312 (465,133) End of year 191,783$ 1,368,977$ 662,809$ 25,961$ 8,057$ Special Revenue Funds
130 352
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
ACTC AVI Economic
Road Maint & Vehicle Benefit/Business
Rehab Account Registration Garbage/ Assistance
(RMRA) Fee TDA Recyclin g Program
REVENUES:
Intergovernmental 1,698,554 $ 337,637 $ - $ 243,845$ - $ Charges for service - - - 8,256,490 - Interest 58,141 5,558 358 35,999 4,376 Fines and forfeitures - - - - - Development revenue - - - - - Other revenue - - - - 100,000 Special assessments - - - - - Total revenues 1,756,695 343,195 358 8,536,334 104,376 EXPENDITURES:
Current:
General government - - - 8,286,780 60,663
Police -----
Fire -----
Public works - 200,000 - 336,972 -
Park and community services -----
Community development - - - - - Total expenditures - 200,000 - 8,623,752 60,663 REVENUES OVER (UNDER) EXPENDITURES 1,756,695 143,195 358 (87,418) 43,713 OTHER FINANCING SOURCES (USES):
Transfers in - - - 23,378 - Transfers out (2,197,928) (96,418) - - - Total other financing sources (uses) (2,197,928) (96,418) - 23,378 - Net change in fund balances (441,233) 46,777 358 (64,040) 43,713 FUND BALANCES (DEFICITS):
Beginning of year 2,849,465 242,434 17,416 1,041,103 275,153 End of year 2,408,232$ 289,211$ 17,774$ 977,063$ 318,866$ Special Revenue Funds
131 353
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
Storm Miscellaneous Community
Water Box Special Development
Management Culvert Public Art Revenu e Block Grant
REVENUES:
Intergovernmental - $ - $ - $ - $ 307,484$ Charges for service - - - 117,271 - Interest 4,820 8,197 76,815 10,031 - Fines and forfeitures - - - - - Development revenue - - 7,455 1,311 - Other revenue - - - - - Special assessments - - - - - Total revenues 4,820 8,197 84,270 128,613 307,484 EXPENDITURES:
Current:
General government - - - 44,909 307,484
Police -----
Fire -----
Public works 6,800----
Park and community services - - 39,001 --
Community development - - - - - Total expenditures 6,800 - 39,001 44,909 307,484 REVENUES OVER (UNDER) EXPENDITURES (1,980) 8,197 45,269 83,704 - OTHER FINANCING SOURCES (USES):
Transfers in - - - - - Transfers out - - (474,814) - - Total other financing sources (uses) - - (474,814) - - Net change in fund balances (1,980) 8,197 (429,545) 83,704 - FUND BALANCES (DEFICITS):
Beginning of year 235,073 398,344 3,927,675 483,724 6,600 End of year 233,093$ 406,541$ 3,498,130$ 567,428$ 6,600$ Special Revenue Funds
132 354
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
Federal
Building State COVID-19 American
State Grant Homes and Housing Financial Rescue
Park Jobs Act Grant Assistanc e Plan Act
REVENUES:
Intergovernmental - $ - $ 300,000$ - $ 1,444,951$ Charges for service - - - - - Interest - - - - 92,605 Fines and forfeitures - - - - - Development revenue - - - - - Other revenue - - - - - Special assessments - - - - - Total revenues - - 300,000 - 1,537,556 EXPENDITURES:
Current:
General government - - - 777 785,613
Police - - - - 751,943
Fire -----
Public works -----
Park and community services -----
Community development - 837 222,655 - - Total expenditures - 837 222,655 777 1,537,556 REVENUES OVER (UNDER) EXPENDITURES - (837) 77,345 (777) - OTHER FINANCING SOURCES (USES):
Transfers in - - - - - Transfers out (557,154) - - - - Total other financing sources (uses) (557,154) - - - - Net change in fund balances (557,154) (837) 77,345 (777) - FUND BALANCES (DEFICITS):
Beginning of year - (278,013) (76,913) 59,851 - End of year (557,154)$ (278,850)$ 432$ 59,074$ -$ Special Revenue Funds
133 355
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
Measure RR - 1983-1 1983-2 1986-1 1997-1
Safe Routes Street Stagecoach Dougherty Santa Rita
to BART Lighting Landscape Landscape Landscape
REVENUES:
Intergovernmental 967,149 $ - $ - $ - $ - $ Charges for service - - - - - Interest - 13,168 7,791 11,986 26,270 Fines and forfeitures - - - - - Development revenue - - - - - Other revenue - - - - - Special assessments - 314,514 109,714 194,119 370,213 Total revenues 967,149 327,682 117,505 206,105 396,483 EXPENDITURES:
Current:
General government - - - - -
Police -- -- -
Fire -- -- -
Public works - 262,596 62,245 92,451 292,031
Park and community services -- -- -
Community development - - - - - Total expenditures - 262,596 62,245 92,451 292,031 REVENUES OVER (UNDER) EXPENDITURES 967,149 65,086 55,260 113,654 104,452 OTHER FINANCING SOURCES (USES):
Transfers in - - - - - Transfers out (967,149) - - (19,958) (72) Total other financing sources (uses) (967,149) - - (19,958) (72) Net change in fund balances - 65,086 55,260 93,696 104,380 FUND BALANCES (DEFICITS):
Beginning of year - 622,076 355,161 549,938 1,195,690 End of year -$ 687,162$ 410,421$ 643,634$ 1,300,070$ Maintenance Districts
Special Revenue Funds
134 356
City of Dublin
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the year ended June 30, 2023
Capital
Projects
Fund
Energy
1999-1 Dublin Improvement Total Nonmajor
East Dublin Crossing Federal Grants - Lease Revenue Governmental Street Lighting CFD No. 2017-1 General Bond Funds
REVENUES:
Intergovernmental - $ - $ 389,481$ - $ 13,935,558$ Charges for service - - - - 8,373,761 Interest 7,338 7,516 - 158,815 679,625 Fines and forfeitures - - - - 127,320 Development revenue - - - - 8,766 Other revenue - - - - 181,558 Special assessments 308,578 99,107 - - 1,607,027 Total revenues 315,916 106,623 389,481 158,815 24,913,615 EXPENDITURES:
Current:
General government - - 389,48 1 - 9,875,707
Police ---- 1 ,115,406
Fire ---- 181,488
Public works 214,265 8,594 - - 2,470,450
Park and community services ---- 3 9,001
Community development - - - - 223,492 Total expenditures 214,265 8,594 389,481 - 13,905,544 REVENUES OVER (UNDER) EXPENDITURES 101,651 98,029 - 158,815 11,008,071 OTHER FINANCING SOURCES (USES):
Transfers in - - - - 23,378 Transfers out (498,762) - - (6,355,686) (18,337,622) Total other financing sources (uses) (498,762) - - (6,355,686) (18,314,244) Net change in fund balances (397,111) 98,029 - (6,196,871) (7,306,173) FUND BALANCES (DEFICITS):
Beginning of year 963,079 329,252 - 9,039,916 29,010,964 End of year 565,968$ 427,281$ -$ 2,843,045$ 21,704,791$ Maintenance Districts
Special Revenue Funds
135 357
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Special Criminal Activity Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 200$ 200$ 2,941$ 2,741$ Other revenues - 69,757 80,174 10,417 Total revenues 200 69,957 83,115 13,158 EXPENDITURES:
Current:
Police 35,000 125,883 47,650 78,233 Total expenditures 35,000 125,883 47,650 78,233 REVENUES OVER (UNDER) EXPENDITURES (34,800) (55,926) 35,465 91,391 Net change in fund balance (34,800)$ (55,926)$ 35,465 91,391$ FUND BALANCE:
Beginning of year 92,329
End of year 127,794$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
136 358
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Vehicle Abatement Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 34,000$ 34,000$ 96,432$ 62,432$ Interest 1,500 1,500 7,077 5,577 Total revenues 35,500 35,500 103,509 68,009 EXPENDITURES:
Current:
Police - 35,677 35,678 (1) Total expenditures - 35,677 35,678 (1) REVENUES OVER (UNDER) EXPENDITURES 35,500 (177) 67,831 68,008 OTHER FINANCING SOURCES (USES):
Transfers out (50,000) (50,000) (29,382) 20,618 Total other financing sources (uses) (50,000) (50,000) (29,382) 20,618 Net change in fund balance (14,500)$ (50,177)$ 38,449 88,626$ FUND BALANCE:
Beginning of year 326,823
End of year 365,272$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
137 359
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Supplemental Law Enforcement Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 100,000$ 100,000$ 177,914$ 77,914$ Interest 2,000 2,000 6,557 4,557 Total revenues 102,000 102,000 184,471 82,471 EXPENDITURES:
Current:
Police 100,000 100,000 100,000 - Total expenditures 100,000 100,000 100,000 - REVENUES OVER (UNDER) EXPENDITURES 2,000 2,000 84,471 82,471 Net change in fund balance 2,000$ 2,000$ 84,471 82,471$ FUND BALANCE:
Beginning of year 280,381
End of year 364,852$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
138 360
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Traffic Safety Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 100$ 100$ 65$ (35)$ Fines and forfeitures 100,000 100,000 127,320 27,320 Total revenues 100,100 100,100 127,385 27,285 EXPENDITURES:
Current:
Public works and transportation 50,000 58,179 37,922 20,257 Total expenditures 50,000 58,179 37,922 20,257 REVENUES OVER (UNDER) EXPENDITURES 50,100 41,921 89,463 47,542 Net change in fund balance 50,100$ 41,921$ 89,463 47,542$ FUND BALANCE:
Beginning of year (55,792)
End of year 33,671$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
139 361
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Emergency Medical Services Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 2,000$ 2,000$ 5,415$ 3,415$ Special assessments 214,000 214,000 210,782 (3,218) Total revenues 216,000 216,000 216,197 197 EXPENDITURES:
Current:
Fire 177,937 177,937 181,488 (3,551) Total expenditures 177,937 177,937 181,488 (3,551) REVENUES OVER (UNDER) EXPENDITURES 38,063 38,063 34,709 (3,354) Net change in fund balance 38,063$ 38,063$ 34,709 (3,354)$ FUND BALANCE:
Beginning of year 245,560
End of year 280,269$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
140 362
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Enforcement Grants Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 321,584$ 321,584$ 266,990$ (54,594)$ Total revenues 321,584 321,584 266,990 (54,594) EXPENDITURES:
Current:
Police 321,584 321,584 180,135 141,449 Total expenditures 321,584 321,584 180,135 141,449 REVENUES OVER (UNDER) EXPENDITURES - - 86,855 86,855 Net change in fund balance -$ -$ 86,855 86,855$ FUND BALANCE:
Beginning of year 1,524
End of year 88,379$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
141 363
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual State Gas Tax Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 1,868,231$ 1,868,231$ 1,850,782$ (17,449)$ Interest 30,000 30,000 79,642 49,642 Total revenues 1,898,231 1,898,231 1,930,424 32,193 EXPENDITURES:
Current:
Public works and transportation 1,140,543 1,158,775 947,233 211,542 Total expenditures 1,140,543 1,158,775 947,233 211,542 REVENUES OVER (UNDER) EXPENDITURES 757,688 739,456 983,191 243,735 OTHER FINANCING SOURCES (USES):
Transfers out (744,460) (3,903,172) (1,474,073) 2,429,099 Total other financing sources (uses) (744,460) (3,903,172) (1,474,073) 2,429,099 Net change in fund balance 13,228$ (3,163,716)$ (490,882) 2,672,834$ FUND BALANCE:
Beginning of year 3,726,665
End of year 3,235,783$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
142 364
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual SAFETEA-LU Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 661,000$ 621,000$ (40,000)$ Total revenues - 661,000 621,000 (40,000) OTHER FINANCING SOURCES (USES):
Transfers out - (661,000) (661,000) - Total other financing sources (uses) - (661,000) (661,000) - Net change in fund balance -$ -$ (40,000) (40,000)$ FUND BALANCE:
Beginning of year -
End of year (40,000)$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
143 365
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Measure B Sales Tax Local Streets Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest -$ -$ 10,265$ 10,265$ Total revenues - - 10,265 10,265 OTHER FINANCING SOURCES (USES):
Transfers out (300,000) (955,705) (827,482) 128,223 Total other financing sources (uses) (300,000) (955,705) (827,482) 128,223 Net change in fund balance (300,000)$ (955,705)$ (817,217) 138,488$ FUND BALANCE:
Beginning of year 916,201
End of year 98,984$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
144 366
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Measure B Sales Tax Bike/Pedestrian Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest -$ -$ 3,961$ 3,961$ Other revenues - - 1,384 1,384 Total revenues - - 5,345 5,345 OTHER FINANCING SOURCES (USES):
Transfers out - (345,406) (277,206) 68,200 Total other financing sources (uses) - (345,406) (277,206) 68,200 Net change in fund balance -$ (345,406)$ (271,861) 73,545$ FUND BALANCE:
Beginning of year 340,040
End of year 68,179$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
145 367
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Measure B Grants Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest -$ -$ 3,866$ 3,866$ Total revenues - - 3,866 3,866 Net change in fund balance -$ -$ 3,866 3,866$ FUND BALANCE:
Beginning of year 187,917
End of year 191,783$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
146 368
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Measure BB Sales Tax Streets and Roads Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 1,138,000$ 1,138,000$ 1,458,611$ 320,611$ Interest 4,000 4,000 19,983 15,983 Total revenues 1,142,000 1,142,000 1,478,594 336,594 OTHER FINANCING SOURCES (USES):
Transfers out (980,000) (1,425,980) (857,954) 568,026 Total other financing sources (uses) (980,000) (1,425,980) (857,954) 568,026 Net change in fund balance 162,000$ (283,980)$ 620,640 904,620$ FUND BALANCE:
Beginning of year 748,337
End of year 1,368,977$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
147 369
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Measure BB Sales Tax Bike/Pedestrian Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 376,000$ 376,000$ 502,810$ 126,810$ Interest 1,000 1,000 10,029 9,029 Total revenues 377,000 377,000 512,839 135,839 EXPENDITURES:
Current:
Public works 19,080 19,080 9,341 9,739 Total expenditures 19,080 19,080 9,341 9,739 REVENUES OVER (UNDER) EXPENDITURES 357,920 357,920 503,498 145,578 OTHER FINANCING SOURCES (USES):
Transfers out (188,228) (493,814) (246,465) 247,349 Total other financing sources (uses) (188,228) (493,814) (246,465) 247,349 Net change in fund balance 169,692$ (135,894)$ 257,033 392,927$ FUND BALANCE:
Beginning of year 405,776
End of year 662,809$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
148 370
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Measure BB Grants Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 741,717$ 5,183,703$ 2,600,959$ (2,582,744)$ Interest - - 40 40 Total revenues 741,717 5,183,703 2,600,999 (2,582,704) OTHER FINANCING SOURCES (USES):
Transfers out - (5,146,840) (2,598,350) 2,548,490 Total other financing sources (uses) - (5,146,840) (2,598,350) 2,548,490 Net change in fund balance 741,717$ 36,863$ 2,649 (34,214)$ FUND BALANCE:
Beginning of year 23,312
End of year 25,961$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
149 371
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Transportation for Clean Air (TFCA) Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 753,839$ 670,959$ (82,880)$ Total revenues - 753,839 670,959 (82,880) OTHER FINANCING SOURCES (USES):
Transfers out - (288,705) (197,769) 90,936 Total other financing sources (uses) - (288,705) (197,769) 90,936 Net change in fund balance -$ 465,134$ 473,190 8,056$ FUND BALANCE:
Beginning of year (465,133)
End of year 8,057$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
150 372
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Road Maintenance & Rehabilitation Account (RMRA) Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 1,262,424$ 1,304,773$ 1,698,554$ 393,781$ Interest 15,000 15,000 58,141 43,141 Total revenues 1,277,424 1,319,773 1,756,695 436,922 OTHER FINANCING SOURCES (USES):
Transfers out (1,323,961) (3,734,649) (2,197,928) 1,536,721 Total other financing sources (uses) (1,323,961) (3,734,649) (2,197,928) 1,536,721 Net change in fund balance (46,537)$ (2,414,876)$ (441,233) 1,973,643$ FUND BALANCE:
Beginning of year 2,849,465
End of year 2,408,232$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
151 373
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual ACTC Vehicle Registration Fee Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 267,867$ 993,867$ 337,637$ (656,230)$ Interest 2,500 2,500 5,558 3,058 Total revenues 270,367 996,367 343,195 (653,172) EXPENDITURES:
Current:
Public works and transportation 200,000 215,473 200,000 15,473 Total expenditures 200,000 215,473 200,000 15,473 REVENUES OVER (UNDER) EXPENDITURES 70,367 780,894 143,195 (637,699) OTHER FINANCING SOURCES (USES):
Transfers out (165,040) (996,115) (96,418) 899,697 Total other financing sources (uses) (165,040) (996,115) (96,418) 899,697 Net change in fund balance (94,673)$ (215,221)$ 46,777 261,998$ FUND BALANCE:
Beginning of year 242,434
End of year 289,211$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
152 374
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual TDA Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 17,317$ 17,317$ -$ (17,317)$ Interest - - 358 358 Total revenues 17,317 17,317 358 (16,959) OTHER FINANCING SOURCES (USES):
Transfers out - (17,317) - 17,317 Total other financing sources (uses) - (17,317) - 17,317 Net change in fund balance 17,317$ -$ 358 358$ FUND BALANCE:
End of year 17,774$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
153 375
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Garbage/Recycling Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 282,256$ 282,256$ 243,845$ (38,411)$ Charges for services 7,620,000 8,286,781 8,256,490 (30,291) Interest 18,500 18,500 35,999 17,499 Total revenues 7,920,756 8,587,537 8,536,334 (51,203) EXPENDITURES:
Current:
General government 7,620,000 8,286,781 8,286,780 1 Public works and transportation 198,811 619,958 336,972 282,986 Total expenditures 7,818,811 8,906,739 8,623,752 282,987 REVENUES OVER (UNDER) EXPENDITURES 101,945 (319,202) (87,418) 231,784 OTHER FINANCING SOURCES (USES):
Transfers in - 23,378 23,378 - Transfers out - (69,360) - 69,360 Total other financing sources (uses) - (45,982) 23,378 69,360 Net change in fund balance 101,945$ (365,184)$ (64,040) 301,144$ FUND BALANCE:
Beginning of year 1,041,103
End of year 977,063$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
154 376
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual AVI Economic Benefit/Business Assistance Program Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest -$ -$ 4,376$ 4,376$ Other revenues 100,000 100,000 100,000 - Total revenues 100,000 100,000 104,376 4,376 EXPENDITURES:
Current:
General government 100,000 100,000 60,663 39,337 Total expenditures 100,000 100,000 60,663 39,337 REVENUES OVER (UNDER) EXPENDITURES - - 43,713 43,713 Net change in fund balance -$ -$ 43,713 43,713$ FUND BALANCE:
Beginning of year 275,153
End of year 318,866$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
155 377
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Storm Water Management Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 2,000$ 2,000$ 4,820$ 2,820$ Total revenues 2,000 2,000 4,820 2,820 EXPENDITURES:
Current:
Public works and transportation 16,800 16,800 6,800 10,000 Total expenditures 16,800 16,800 6,800 10,000 REVENUES OVER (UNDER) EXPENDITURES (14,800) (14,800) (1,980) 12,820 Net change in fund balance (14,800)$ (14,800)$ (1,980) 12,820$ FUND BALANCE:
Beginning of year 235,073
End of year 233,093$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
156 378
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Box Culvert Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 5,000$ 5,000$ 8,197$ 3,197$ Total revenues 5,000 5,000 8,197 3,197 Net change in fund balance 5,000$ 5,000$ 8,197 3,197$ FUND BALANCE:
Beginning of year 398,344
End of year 406,541$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
157 379
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Public Art Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 45,000$ 45,000$ 76,815$ 31,815$ Development revenue - - 7,455 7,455 Total revenues 45,000 45,000 84,270 39,270 EXPENDITURES:
Current:
Parks and community services 80,250 80,250 39,001 41,249 Total expenditures 80,250 80,250 39,001 41,249 REVENUES OVER (UNDER) EXPENDITURES (35,250) (35,250) 45,269 80,519 OTHER FINANCING SOURCES (USES):
Transfers out (150,000) (1,445,860) (474,814) 971,046 Total other financing sources (uses) (150,000) (1,445,860) (474,814) 971,046 Net change in fund balance (185,250)$ (1,481,110)$ (429,545) 1,051,565$ FUND BALANCE:
Beginning of year 3,927,675
End of year 3,498,130$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
158 380
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Miscellaneous Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Charges for services 125,000$ 125,000$ 117,271$ (7,729)$ Interest 2,100 2,100 10,031 7,931 Development revenue 662 662 1,311 649 Total revenues 127,762 127,762 128,613 851 EXPENDITURES:
Current:
General government 70,000 70,000 44,909 25,091 Total expenditures 70,000 70,000 44,909 25,091 REVENUES OVER (UNDER) EXPENDITURES 57,762 57,762 83,704 25,942 Net change in fund balance 57,762$ 57,762$ 83,704 25,942$ FUND BALANCE:
Beginning of year 483,724
End of year 567,428$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
159 381
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Community Development Block Grant Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 305,600$ 525,984$ 307,484$ (218,500)$ Total revenues 305,600 525,984 307,484 (218,500) EXPENDITURES:
Current:
General government 299,000 300,254 307,484 (7,230) Community development - 219,130 - 219,130 Total expenditures 299,000 519,384 307,484 211,900 REVENUES OVER (UNDER) EXPENDITURES 6,600 6,600 - (6,600) OTHER FINANCING SOURCES (USES):
Transfers out (6,600) (6,600) - 6,600 Total other financing sources (uses) (6,600) (6,600) - 6,600 Net change in fund balance -$ -$ - -$ FUND BALANCE:
Beginning of year 6,600
End of year 6,600$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
160 382
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual State Grant Park Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 2,022,400$ 2,022,400$ -$ (2,022,400)$ Total revenues 2,022,400 2,022,400 - (2,022,400) OTHER FINANCING SOURCES (USES):
Transfers out (2,294,000) (2,294,000) (557,154) 1,736,846 Total other financing sources (uses) (2,294,000) (2,294,000) (557,154) 1,736,846 Net change in fund balance (271,600)$ (271,600)$ (557,154) (285,554)$ FUND BALANCE:
Beginning of year -
End of year (557,154)$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
161 383
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Building Homes and Jobs Act Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 310,000$ -$ (310,000)$ Total revenues - 310,000 - (310,000) EXPENDITURES:
Current:
Community development - 1,835 837 998 Total expenditures - 1,835 837 998 REVENUES OVER (UNDER) EXPENDITURES - 308,165 (837) (309,002) Net change in fund balance -$ 308,165$ (837) (309,002)$ FUND BALANCE:
Beginning of year (278,013)
End of year (278,850)$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
162 384
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual State Housing Grant Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 300,000$ 300,000$ 300,000$ -$ Total revenues 300,000 300,000 300,000 - EXPENDITURES:
Current:
Community development - 223,087 222,655 432 Total expenditures - 223,087 222,655 432 REVENUES OVER (UNDER) EXPENDITURES 300,000 76,913 77,345 432 Net change in fund balance 300,000$ 76,913$ 77,345 432$ FUND BALANCE:
Beginning of year (76,913)
End of year 432$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
163 385
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Federal COVID-19 Financial Assistance Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
EXPENDITURES:
Current:
General government -$ -$ 777$ (777)$ Total expenditures - - 777 (777) Net change in fund balance -$ -$ (777) (777)$ FUND BALANCE:
Beginning of year 59,851
End of year 59,074$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
164 386
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual American Rescue Plan Act Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental 3,544,256$ 3,544,256$ 1,444,951$ (2,099,305)$ Interest - - 92,605 92,605 Total revenues 3,544,256 3,544,256 1,537,556 (2,006,700) EXPENDITURES:
Current:
General government 1,768,095 1,505,615 785,613 720,002 Police 611,397 1,158,302 751,943 406,359 Community development 128,000 593,941 - 593,941 Total expenditures 2,507,492 3,257,858 1,537,556 1,720,302 REVENUES OVER (UNDER) EXPENDITURES 1,036,764 286,398 - (286,398) Net change in fund balance 1,036,764$ 286,398$ - (286,398)$ FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
165 387
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Measure RR Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 1,378,758$ 967,149$ (411,609)$ Total revenues - 1,378,758 967,149 (411,609) OTHER FINANCING SOURCES (USES):
Transfers out - (1,378,758) (967,149) 411,609 Total other financing sources (uses) - (1,378,758) (967,149) 411,609 Net change in fund balance -$ -$ - -$ FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
166 388
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Maintenance Districts 1983-1 Street Lighting Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 5,000$ 5,000$ 13,168$ 8,168$ Special assessments 315,395 315,395 314,514 (881) Total revenues 320,395 320,395 327,682 7,287 EXPENDITURES:
Current:
Public works and transportation 306,816 321,867 262,596 59,271 Total expenditures 306,816 321,867 262,596 59,271 REVENUES OVER (UNDER) EXPENDITURES 13,579 (1,472) 65,086 66,558 Net change in fund balance 13,579$ (1,472)$ 65,086 66,558$ FUND BALANCE:
Beginning of year 622,076
End of year 687,162$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
167 389
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Maintenance Districts 1983-2 Stagecoach Landscape Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 3,000$ 3,000$ 7,791$ 4,791$ Special assessments 101,694 101,694 109,714 8,020 Total revenues 104,694 104,694 117,505 12,811 EXPENDITURES:
Current:
Public works and transportation 68,008 68,008 62,245 5,763 Total expenditures 68,008 68,008 62,245 5,763 REVENUES OVER (UNDER) EXPENDITURES 36,686 36,686 55,260 18,574 Net change in fund balance 36,686$ 36,686$ 55,260 18,574$ FUND BALANCE:
Beginning of year 355,161
End of year 410,421$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
168 390
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Maintenance Districts 1986-1 Dougherty Landscape Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 4,500$ 4,500$ 11,986$ 7,486$ Special assessments 193,591 193,591 194,119 528 Total revenues 198,091 198,091 206,105 8,014 EXPENDITURES:
Current:
Public works and transportation 104,414 104,414 92,451 11,963 Total expenditures 104,414 104,414 92,451 11,963 REVENUES OVER (UNDER) EXPENDITURES 93,677 93,677 113,654 19,977 OTHER FINANCING SOURCES (USES):
Transfers out - (390,301) (19,958) 370,343 Total other financing sources (uses) - (390,301) (19,958) 370,343 Net change in fund balance 93,677$ (296,624)$ 93,696 390,320$ FUND BALANCE:
Beginning of year 549,938
End of year 643,634$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
169 391
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Maintenance Districts 1997-1 Santa Rita Landscape Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 10,000$ 10,000$ 26,270$ 16,270$ Special assessments 380,680 380,680 370,213 (10,467) Total revenues 390,680 390,680 396,483 5,803 EXPENDITURES:
Current:
Public works and transportation 332,028 345,028 292,031 52,997 Total expenditures 332,028 345,028 292,031 52,997 REVENUES OVER (UNDER) EXPENDITURES 58,652 45,652 104,452 58,800 OTHER FINANCING SOURCES (USES):
Transfers out (195,000) (195,000) (72) 194,928 Total other financing sources (uses) (195,000) (195,000) (72) 194,928 Net change in fund balance (136,348)$ (149,348)$ 104,380 253,728$ FUND BALANCE:
Beginning of year 1,195,690
End of year 1,300,070$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
170 392
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Maintenance Districts 1999-1 East Dublin Street Lighting Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 12,500$ 12,500$ 7,338$ (5,162)$ Special assessments 324,437 324,437 308,578 (15,859) Total revenues 336,937 336,937 315,916 (21,021) EXPENDITURES:
Current:
Public works and transportation 269,161 302,869 214,265 88,604 Total expenditures 269,161 302,869 214,265 88,604 REVENUES OVER (UNDER) EXPENDITURES 67,776 34,068 101,651 67,583 OTHER FINANCING SOURCES (USES):
Transfers out (42,000) (546,909) (498,762) 48,147 Total other financing sources (uses) (42,000) (546,909) (498,762) 48,147 Net change in fund balance 25,776$ (512,841)$ (397,111) 115,730$ FUND BALANCE:
Beginning of year 963,079
End of year 565,968$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
171 393
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Dublin Crossing Community Facilities District No. 2017-1 Special Revenue Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest 2,000$ 2,000$ 7,516$ 5,516$ Special assessments 115,000 115,000 99,107 (15,893) Total revenues 117,000 117,000 106,623 (10,377) EXPENDITURES:
Current:
Public works and transportation 30,498 30,498 8,594 21,904 Total expenditures 30,498 30,498 8,594 21,904 REVENUES OVER (UNDER) EXPENDITURES 86,502 86,502 98,029 11,527 Net change in fund balance 86,502$ 86,502$ 98,029 11,527$ FUND BALANCE:
Beginning of year 329,252
End of year 427,281$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
172 394
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Federal Grants - General Special Revenue Fund
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Intergovernmental -$ 450,000$ 389,481$ (60,519)$ Total revenues - 450,000 389,481 (60,519) EXPENDITURES:
Current:
General government - 450,000 389,481 60,519 Total expenditures - 450,000 389,481 60,519
REVENUES OVER (UNDER) EXPENDITURES - - - - Net change in fund balance -$ -$ - -$ FUND BALANCE:
Beginning of year -
End of year -$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
173 395
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Energy Improvement Lease Revenue Bond Capital Projects Fund Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES:
Interest -$ -$ 158,815$ 158,815$ Total revenues - - 158,815 158,815 OTHER FINANCING SOURCES (USES):
Transfers out - (8,890,725) (6,355,686) 2,535,039 Total other financing sources (uses) - (8,890,725) (6,355,686) 2,535,039 Net change in fund balance -$ (8,890,725)$ (6,196,871) 2,693,854$ FUND BALANCE:
Beginning of year 9,039,916
End of year 2,843,045$
City of Dublin
For the year ended June 30, 2023
Budgeted Amounts
174 396
INTERNAL SERVICE FUNDS
Vehicle Replacement this fund is an interest bearing Internal Service Fund established to finance necessary vehicle replacements.
Building Replacement this fund is an interest bearing Internal Service Fund established to finance future major building component repair expenditures.
Equipment Replacement this fund is an interest bearing Internal Service fund established to finance necessary equipment replacements.
Retiree Health Care this fund is an interest bearing Internal Service Fund established to account for the contribution made to the California Employers' Retiree Benefit Trust Fund for future retiree health care benefits.
Information Technology accounts for all information and technology costs, including staffing. 175 397
City of Dublin
Combining Statement of Net Position
Internal Service Funds
June 30, 2023
Vehicle Building Equipment
Replacement Replacement Replacement
ASSETS
Current assets:
Cash and investments 2,706,485$ 12,785,081$ 8,307,561$ Accounts receivable 5,000 - - Prepaids and other - - - Total current assets 2,711,485 12,785,081 8,307,561 Noncurrent assets:
Capital assets:
Land - 10,774,792 - Construction in progress - 5,815,755 659,563 Infrastructure - 622,831 122,183 Building and improvements - 63,177,051 - Vehicles and equipment 8,392,016 - 2,424,953 Subscription based I.T. agreements - - - Less accumulated depreciation and amortization (4,441,078) (46,811,315) (1,390,742) Net capital assets 3,950,938 33,579,114 1,815,957 Total assets 6,662,423 46,364,195 10,123,518
LIABILITIES
Current liabilities:
Accounts payable and accruals 9,264 4,917 31,611 Due to other funds - - - SBITA liabilities, due in one year - - - Total current liabilities 9,264 4,917 31,611 Long-term liabilities:
SBITA liabilities, due in more than one year - - - Total long-term liabilities - - - Total liabilities 9,264 4,917 31,611
NET POSITION (DEFICIT)
Net investment in capital assets 3,950,938 33,579,114 1,815,957 Unrestricted 2,702,221 12,780,164 8,275,950 Total net position (deficit) 6,653,159$ 46,359,278$ 10,091,907$ 176 398
City of Dublin
Combining Statement of Net Position (Continued)
Internal Service Funds
June 30, 2023
Retiree Information
Health Care Technology Total
ASSETS
Current assets:
Cash and investments -$ 2,076,287$ 25,875,414$ Accounts receivable 561,663 15,000 581,663 Prepaids and other 202,404 148,753 351,157 Total current assets 764,067 2,240,040 26,808,234 Noncurrent assets:
Capital assets:
Land - - 10,774,792 Construction in progress - 882,868 7,358,186 Infrastructure - - 745,014 Building and improvements - 42,732 63,219,783 Vehicles and equipment - 54,883 10,871,852 Subscription based I.T. agreements - 1,479,702 1,479,702 Less accumulated depreciation and amortization - (395,441) (53,038,576) Net capital assets - 2,064,744 41,410,753 Total assets 764,067 4,304,784 68,218,987
LIABILITIES
Current liabilities:
Accounts payable and accruals (11,719) 406,842 440,915 Due to other funds 727,092 - 727,092 SBITA liabilities, due in one year - 381,625 381,625 Total current liabilities 715,373 788,467 1,549,632 Long-term liabilities:
SBITA liabilities, due in more than one year - 839,433 839,433 Total long-term liabilities - 839,433 839,433 Total liabilities 715,373 1,627,900 2,389,065
NET POSITION (DEFICIT)
Net investment in capital assets - 843,686 40,189,695 Unrestricted 48,694 1,833,198 25,640,227 Total net position (deficit) 48,694$ 2,676,884$ 65,829,922$ 177 399
City of Dublin
Combining Statement of Revenues, Expenses and Changes in Fund Net Position Internal Service Funds
For the year ended June 30, 2023
Vehicle Building Equipment
Replacement Replacement Replacement
OPERATING REVENUES:
Charges for services 746,088$ 414,278$ 949,561$ Other revenue 146,339 - - Total operating revenues 892,427 414,278 949,561 OPERATING EXPENSES:
Supplies and services 9,265 68,070 25,103 Retiree health premiums - - - Depreciation 461,313 2,110,624 261,285 Total operating expenses 470,578 2,178,694 286,388 OPERATING INCOME (LOSS) 421,849 (1,764,416) 663,173 NONOPERATING REVENUES (EXPENSES):
Interest income 54,346 221,532 170,640 Interest and fiscal charges - - - Total nonoperating revenues (expenses) 54,346 221,532 170,640
INCOME (LOSS) BEFORE
CONTRIBUTIONS AND TRANSFERS: 476,195 (1,542,884) 833,813 Transfers in - 2,000,000 - Transfers (out) - (113) - Total transfers - 1,999,887 - Change in net position 476,195 457,003 833,813 NET POSITION (DEFICIT):
Beginning of year 6,176,964 45,902,275 9,258,094 End of year 6,653,159$ 46,359,278$ 10,091,907$ 178 400
City of Dublin
Combining Statement of Revenues, Expenses and Changes in Fund Net Position (Continued) Internal Service Funds
For the year ended June 30, 2023
Retiree Information
Health Care Technology Total
OPERATING REVENUES:
Charges for services -$ 2,916,776$ 5,026,703$ Other revenue 916,598 - 1,062,937 Total operating revenues 916,598 2,916,776 6,089,640 OPERATING EXPENSES:
Supplies and services - 2,215,061 2,317,499 Retiree health premiums 916,597 - 916,597 Depreciation - 352,733 3,185,955 Total operating expenses 916,597 2,567,794 6,420,051 OPERATING INCOME (LOSS) 1 348,982 (330,411) NONOPERATING REVENUES (EXPENSES):
Interest income 311 64,978 511,807 Interest and fiscal charges - (29,593) (29,593) Total nonoperating revenues (expenses) 311 35,385 482,214
INCOME (LOSS) BEFORE
CONTRIBUTIONS AND TRANSFERS: 312 384,367 151,803 Transfers in - - 2,000,000 Transfers (out) - (37,852) (37,965) Total transfers - (37,852) 1,962,035 Change in net position 312 346,515 2,113,838 NET POSITION (DEFICIT):
Beginning of year 48,382 2,330,369 63,716,084 End of year 48,694$ 2,676,884$ 65,829,922$ 179 401
City of Dublin
Combining Statement of Cash Flows
Internal Service Funds
For the year ended June 30, 2023
Vehicle Building Equipment
Replacement Replacement Replacement
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from customers 2,804,883$ 414,278 $ 949,56 1$ Payments to suppliers and service providers (2,063,796) (63,153) (729) Other revenues 146,339 - -
Net cash provided by (used in) operating activities 887,426 351,125 948,832
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
Cash receipts from other funds - 2,000,000 -
Cash disbursements to other funds - (113) - Net cash provided by (used in) noncapital financing activities - 1,999,887 -
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:
Purchase of capital assets (240,304) (114) (461,259)
Interest paid on SBITAs ---
Principal payment made on SBITAs - - - Net cash used in capital and related financing activities (240,304) (114) (461,259) CASH FLOWS FROM INVESTING ACTIVITIES:
Interest received 54,346 221,532 170,640 Net cash provided by investing activities 54,346 221,532 170,640 Net Cash Flows 701,468 2,572,430 658,213
CASH AND CASH EQUIVALENTS - Beginning of year 2,005,017 10,212,65 1 7,649,348 CASH AND CASH EQUIVALENTS - End of year 2,706,485$ 12,785,08 1$ 8,307,561$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Operating income (loss) 421,849$ (1,764,416 )$ 663,173$ Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation 461,313 2,110,624 261,285
Change in assets and liabilities
Accounts receivable (5,000) --
Prepaids ---
Accounts payable and accruals 9,264 4,917 24,374
Net cash provided by (used in) operating activities 887,426$ 351,125 $ 948,832 $ 180 402
City of Dublin
Combining Statement of Cash Flows (Continued)
Internal Service Funds
For the year ended June 30, 2023
Retiree Information
Health Care Technology Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Receipts from customers (346,952)$ 2,901,776$ 6,723,546$ Payments to suppliers and service providers (1,027,096) (2,035,267) (5,190,041) Other revenues 916,598 - 1,062,937
Net cash provided by (used in) operating activities (457,450) 866,509 2,596,442
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES:
Cash receipts from other funds 235,695 - 2,235,695
Cash disbursements to other funds 221,444 (37,852) 183,479 Net cash provided by (used in) noncapital financing activities 457,139 (37,852) 2,419,174
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:
Purchase of capital assets -( 46,651) (748,328)
Interest paid on SBITAs -( 2 9 , 5 9 3 ) (29,593)
Principal payment made on SBITAs - (258,644) (258,644) Net cash used in capital and related financing activities - (334,888) (1,036,565) CASH FLOWS FROM INVESTING ACTIVITIES:
Interest received 311 64,978 511,807 Net cash provided by investing activities 311 64,978 511,807 Net Cash Flows - 558,747 4,490,858
CASH AND CASH EQUIVALENTS - Beginning of year - 1,517,540 21,384,556 CASH AND CASH EQUIVALENTS - End of year -$ 2,076,287$ 25,875,414$
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Operating income (loss) 1$ 348,982$ (330,411)$ Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation - 352,733 3,185,955
Change in assets and liabilities
Accounts receivable (450,744) (15,000) (470,744)
Prepaids (6,709) (101,535) (108,244)
Accounts payable and accruals 2 281,329 319,886
Net cash provided by (used in) operating activities (457,450)$ 866,509 $ 2,596,442 $ 181 403
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182 404
CUSTODIAL FUNDS
Fallon Village Geologic Hazard abatement District this assessment district was established in 2007, in accordance with a condition of approval for the Fallon Village development project. The District was formed to provide a mechanism for ongoing maintenance on open space areas within the development. The boundary of this assessment district encompasses approximately 175 acres of land, located generally east of Fallon Road.
Schaefer Ranch Geologic Hazardous Abatement District this assessment district was established in 2006, in accordance with a condition of approval for the Fallon Village development project. The District was formed to provide a mechanism for ongoing maintenance of open space areas within the development. The boundary of this assessment district encompasses approximately 500 acres of land, located at the westerly boundary of the City limits north of interstate 580, and south of the unincorporated area of Alameda County.
Fallon Crossing (North Tassajara) Geologic Hazard Abatement District this assessment district was established to account for the maintenance of open space areas in accordance with a condition of approval for the fallon Crossings development project. The boundary of the District encompasses 68 acres of land located on the northeast side of Tassajara Road, about 2 1/4 Miles north of Interstate Highway 580, Tassajara Road and Moller Creek, a tributary of Tassajara Creek, border the western and northeastern limits of the site.
Dublin Crossing Community Facilities District (CFD) No. 2015-1 (Dublin Crossing) Fund is used to account for bond issuances to finance capital facilities and infrastructure within the CFD secured by the collection of Special Taxes on real property within the CFD. The Custodial Fund is custodial in nature (uses the economic resources measurement focus). CFD bonds are not debt obligations of the City.
Dublin Boulevard Extension Assessment District to account form the special assessment established to fund the improvements to Dublin Boulevard.
Geologic Hazard Abatement Districts two districts were formed under provisions in the California Public Code, Which establishes in section 25670 that a district is a political subdivision of the State and is not an agency or instrumentality of a local agency. The City acts as a trustee of the funds collected and may contractually provide or arrange for services paid for by the District. Fiscal Year 2008-2009 was the first year that tax roll assessments were levied by the Districts. 183 405
City of Dublin
Combining Statement of Fiduciary Net Position
Custodial Funds
June 30, 2023
Dublin
Boulevard Fallon Community
Extension Crossing Facilities Total
Assessment Fallon Schnaefer (North District Custodial
District Village Ranch Tassajara) No. 2015-1 Funds
ASSETS
Cash and investments 9,607$ 9,224,767$ 6,249,479$ 3,108,449$ 18,489,401$ 37,081,703$ Accounts receivable - 3,954 - 824 16,492 21,270 Total assets 9,607 9,228,721 6,249,479 3,109,273 18,505,893 37,102,973
LIABILITIES
Accounts payable - 26,248 26,880 174 3,901 57,203 Total liabilities - 26,248 26,880 174 3,901 57,203
NET POSITION
Restricted for:
Individuals, organizations, and
other governments 9,607 9,202,473 6,222,599 3,109,099 18,501,992 37,045,770 Total net position 9,607$ 9,202,473$ 6,222,599$ 3,109,099$ 18,501,992$ 37,045,770$ Geologic Hazard Abatement Districts
184 406
City of Dublin
Combining Statement of Changes in Fiduciary Net Position Custodial Funds
For the year ended June 30, 2023
Dublin
Boulevard Fallon Community
Extension Crossing Facilities Total
Assessment Fallon Schnaefer (North District Custodial
District Village Ranch Tassajara) No. 2015-1 Funds
ADDITIONS:
Special assessments -$ 1,214,305$ 479,691$ 706,773$ 6,438,700$ 8,839,469$ Investment income 193 174,498 122,483 54,749 509,815 861,738 Proceeds from bonds - - - - 21,371,557 21,371,557 Property tax distribution - 3,320 1,083 2,391 21,032 27,826 Other - - - - 52,500 52,500 Total additions 193 1,392,123 603,257 763,913 28,393,604 31,153,090 DEDUCTIONS:
Administration - - - - 33,580,624 33,580,624 Project payments - 238,844 219,901 52,522 8,942 520,209 Payments of bonds principal - - - - 370,000 370,000 Interest expense - - - - 4,890,279 4,890,279 Total deductions - 238,844 219,901 52,522 38,849,845 39,361,112 Change in net position 193 1,153,279 383,356 711,391 (10,456,241) (8,208,022) NET POSITION:
Beginning of year 9,414 8,049,194 5,839,243 2,397,708 28,958,233 45,253,792 End of year 9,607$ 9,202,473$ 6,222,599$ 3,109,099$ 18,501,992$ 37,045,770$ Geologic Hazard Abatement Districts
185 407
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186 408
Index
Financial Trends
Revenue Capacity
Debt Capacity
Demographic and Economic Information
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.
STATISTICAL SECTION
This part of the City of Dublin’s annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the City's overall financial health.
These schedules contain trend information to help the reader understand how the City’s financial performance and well-being have changed over time.
These schedules contain information to help the reader assess the City’s most significant local revenue source, the property tax.
These schedules present information to help the reader assess the affordability of the City’s current levels of outstanding debt and the City’s ability issues additional debt in the future.
These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place. 187 409
2014 2015 2016 2017 2018
Governmental Activities
Net Investment in Capital Assets 445,529,366$ 444,832,546 $ 460,963,292 $ 487,123,214 $ 501,516,781 $ Restricted 60,808,540 74,738,217 97,592,438 94,745,655 107,452,493 Unrestricted 97,918,858 107,176,361 111,725,077 120,464,219 141,008,993 Total Primary Government 604,256,764$ 626,747,124 $ 670,280,807 $ 702,333,088 $ 749,978,267 $ Source: City of Dublin Finance Department
CITY OF DUBLIN, CALIFORNIA
Net Position by Component
Last Ten Fiscal Years
(Accrual Basis of Accounting)
Fiscal Year
188 410
2019 2020 2021 2022 2023
Governmental Activities
Net Investment in Capital Assets 531,251,006$ 539,809,963$ 537,970,764$ 554,600,284$ 545,146,807$ Restricted 105,409,183 109,947,040 107,140,245 118,161,236 115,479,147 Unrestricted 177,705,220 193,382,816 211,211,541 216,956,681 261,775,257 Total Primary Government 814,365,409$ 843,139,819$ 856,322,550$ 889,718,201$ 922,401,211$ Source: City of Dublin Finance Department
Fiscal Year
CITY OF DUBLIN, CALIFORNIA
Net Position by Component
Last Ten Fiscal Years
(Accrual Basis of Accounting)
(Continued)
189 411
Expenses 2014 2015 2016 2017 2018
Governmental Activities
General government $ 17,492,272 $ 11,296,896 $ 19,689,049 $ 14,276,843 $ 16,803,802 Police 16,393,410 15,325,113 18,316,420 17,080,942 19,423,830 Fire 11,376,701 12,198,769 14,725,476 13,687,195 13,315,788 Public works 8,363,186 15,336,225 13,883,008 18,351,543 17,147,611 Parks and community services 9,018,161 12,149,716 14,625,459 11,193,876 15,640,280 Community development 9,169,788 5,713,196 11,410,946 14,249,950 7,074,630 Interest on long-term debt 172,949 156,897 147,195 136,867 125,881 Total Governmental Activities Expenses 71,986,467 72,176,812 92,797,553 88,977,216 89,531,822 Program Revenues
Governmental Activities
Charges for Services
General government $ 153,544 $ 5,777,971 $ 5,209,378 $ 5,402,925 $ 6,060,099 Police 286,220 399,802 362,054 322,231 335,929 Fire 1,877,865 1,746,581 1,633,056 1,426,973 1,551,899 Public works 4,116,145 2,987,235 2,698,767 3,386,621 3,517,700 Parks and community services 2,753,911 3,009,383 2,931,553 2,950,625 4,638,050 Community development 10,393,367 7,657,467 13,217,027 9,334,477 10,139,788 Operating Contributions and Grants 1,674,815 955,677 1,629,137 8,008,289 12,577,699 Capital Contributions and Grants 20,914,994 21,931,981 38,433,119 21,133,748 23,438,110 Total Governmental Activities Program
Revenues 42,170,861 44,466,097 66,114,091 51,965,889 62,259,274 Net (Expense)/Revenue
Governmental Activities $ (29,815,606) $ (27,710,715) $ (26,683,462) $ (37,011,327) $ (27,272,548) General Revenues and Other Changes in
Net Position
Governmental Activities
Taxes
Property taxes 24,274,856 29,437,951 33,598,601 36,964,785 40,628,040 Special assessment taxes 1,011,452 1,264,204 1,359,212 1,416,721 1,472,933 Sales tax 17,833,314 19,211,823 22,070,547 21,186,333 21,134,636 Other taxes 5,427,627 6,159,654 6,606,016 6,834,545 43,787 Investment Income, Unrestricted 853,147 592,881 2,937,999 (710,595) (558,269) Other General Revenues 316,785 429,328 3,644,670 3,371,819 3,335,600 Total Governmental Activities 49,717,181 57,095,841 70,217,045 69,063,608 66,056,727 Change in Net Position
Governmental Activities $ 19,901,575 $ 29,385,126 $ 43,533,583 $ 32,052,281 $ 38,784,179 Source: City of Dublin Finance Department
CITY OF DUBLIN, CALIFORNIA
Changes in Net Position
Last Ten Fiscal Years
(Accrual Basis of Accounting)
Fiscal Year
190 412
Expenses 2019 2020 2021 2022 2023
Governmental Activities
General government $ 15,387,028 $ 24,851,393 $ 23,710,251 $ 23,516,577 $ 27,027,922 Police 21,814,982 22,483,378 24,681,714 24,439,146 27,849,316 Fire 14,152,331 14,122,166 15,227,074 14,657,052 16,308,574 Public works 24,131,711 21,103,350 23,769,070 25,252,334 30,353,850 Parks and community services 12,750,878 10,548,537 9,327,718 11,745,611 11,207,229 Community development 5,606,118 5,406,572 11,384,023 6,777,210 6,969,557 Interest on long-term debt - - - 336,950 583,787 Total Governmental Activities Expenses 93,843,048 98,515,396 108,099,850 106,724,880 120,300,235 Program Revenues
Governmental Activities
Charges for Services
General government $ 6,520,152 $ 7,507,286 $ 9,113,104 $ 10,129,727 $ 10,855,746 Police 330,280 244,363 214,223 241,962 253,956 Fire 1,708,807 1,603,243 2,103,228 2,062,704 2,147,455 Public works 3,132,543 2,471,032 2,453,787 3,361,847 2,606,030 Parks and community services 5,287,193 3,237,611 1,388,778 5,145,083 5,495,143 Community development 7,742,076 4,402,789 5,182,639 6,719,349 6,189,741 Operating Contributions and Grants 7,633,916 4,940,586 5,545,115 7,273,101 11,046,967 Capital Contributions and Grants 34,517,687 9,192,691 5,674,477 16,457,860 7,033,281 Total Governmental Activities Program
Revenues 66,872,654 33,599,601 31,675,351 51,391,633 45,628,319 Net (Expense)/Revenue
Governmental Activities $ (26,970,394) $ (64,915,795) $ (76,424,499) $ (55,333,247) $ (74,671,916) General Revenues and Other Changes in
Net Position
Governmental Activities
Taxes
Property taxes 44,293,602 49,086,335 53,007,086 55,186,388 59,056,139 Special assessment taxes 1,469,840 1,523,257 1,550,479 1,527,036 1,607,028 Sales tax 26,297,803 22,506,975 26,289,165 27,935,894 30,541,735 Other taxes 8,223,510 7,280,323 7,185,319 8,281,142 8,729,684 Investment Income, Unrestricted 8,589,252 10,485,543 (975,548) (12,803,156) 2,759,385 Other General Revenues 2,483,530 2,276,391 2,550,729 8,601,594 4,660,955 Total Governmental Activities 91,357,537 93,158,824 89,607,230 88,728,898 107,354,926 Change in Net Position
Governmental Activities $ 64,387,143 $ 28,243,029 $ 13,182,731 $ 33,395,651 $ 32,683,010 Source: City of Dublin Finance Department
Fiscal Year
CITY OF DUBLIN, CALIFORNIA
Changes in Net Position
Last Ten Fiscal Years
(Accrual Basis of Accounting)
(Continued)
191 413
2014 2015 2016 2017 2018
General Fund
Unreserved, designated for:
Capital Improvements Projects
Carryover $ 43,787 $ - $ - $ - $ - Unreserved, undesignated:
Non-Spendable 2,465,678 1,475,691 729,883 198,878 7,391 Restricted 500,000 500,000 579,000 1,762,000 1,938,000 Committed 34,124,267 38,531,179 38,928,755 36,213,714 43,740,492 Assigned 29,259,333 35,875,264 39,078,695 50,126,807 57,267,840 Unassigned 13,228,484 21,324,360 29,867,693 34,114,263 39,158,943 Total General Fund 79,621,549 97,706,49 4 109,184,026 122,415,662 142,112,666 All Other Governmental Funds
Non-Spendable $ - $ - $ - $ - $ 650 Restricted 61,710,448 75,646,848 84,453,929 82,686,743 105,476,681 Committed - - - - - Assigned - - - - - Unassigned (923,409) (930,131) 13,138,509 11,808,233 (1,998,366) Total All Other Governmental
Funds 60,787,039 74,716,717 97,592,438 94,494,976 103,478,965 Total Governmental Funds $ 140,408,588 $ 172,423,211 $ 206,776,46 4 $2 1 6 , 9 1 0 , 6 3 8 $2 4 5 , 5 9 1 , 6 3 1 Source: City of Dublin Finance Department
CITY OF DUBLIN, CALIFORNIA
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Accrual Basis of Accounting)
Fiscal Year
192 414
2019 2020 2021 2022 2023
General Fund
Unreserved, designated for:
Capital Improvements Projects
Carryover $- $ - $ - $ - $ - Unreserved, undesignated:
Non-Spendable 12,818 13,061 13,266 10,541 4,859 Restricted 1,938,000 1,938,000 4,493,314 4,261,640 4,324,132 Committed 47,267,326 57,828,475 70,694,542 73,346,367 76,016,419 Assigned 60,771,810 64,004,658 66,743,519 93,266,322 125,043,298 Unassigned 61,235,819 66,865,027 67,819,855 52,972,636 44,347,902 Total General Fund 171,225,773 190,649,221 209,764,49 6 223,857,506 249,736,610 All Other Governmental Funds
Non-Spendable $ - $ 25,000 $ - $ - $ - Restricted 107,090,763 104,872,535 102,613,783 122,939,512 111,155,015 Committed - - - - - Assigned - - - - - Unassigned (3,737,589) (3,522,706) (326,876) (875,851) (876,004) Total All Other Governmental
Funds 103,353,174 101,374,829 102,286,907 122,063,661 110,279,011 Total Governmental Funds $ 274,578,947 $ 292,024,05 0 $3 1 2 , 0 5 1 , 4 03 $3 4 5 , 9 2 1 , 1 6 7 $3 6 0 , 0 1 5 , 6 2 1 Source: City of Dublin Finance Department
Fiscal Year
CITY OF DUBLIN, CALIFORNIA
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Accrual Basis of Accounting)
(Continued)
193 415
Revenues 2014 2015 2016 2017 2018
Property taxes $ 25,448,254 $ 29,437,951 $ 33,598,601 $ 36,964,784 $ 40,628,040 Taxes other than property 23,769,133 25,371,476 28,676,662 28,020,877 27,089,866 Intergovernmental 2,574,159 3,245,822 3,303,521 9,352,861 12,415,367 Licenses and permits* 293,941 301,072 314,206 318,981 318,400 Charges for services 12,326,848 13,737,934 13,846,381 14,185,768 17,859,770 Investment income 1,101,634 1,071,936 3,689,940 168,792 666,808 Use of property 1,591,784 2,352,810 6,751,864 1,539,669 1,669,841 Fines and forteitures 323,601 320,629 290,871 260,220 275,665 Development fees* 21,358,140 24,276,317 43,038,360 26,866,804 24,465,477 Special assessments 1,025,239 1,264,201 1,359,214 1,416,721 1,472,932 Other revernues 2,762,970 3,499,480 1,351,331 1,763,454 7,363,700 Total Revenues 92,575,703 104,879,628 136,220,951 120,858,931 134,225,866 Expenditures
Current:
General government 8,411,507 11,471,412 20,715,735 13,313,517 14,020,898 Police 16,155,083 15,697,432 17,886,990 17,183,853 19,355,889 Fire 11,226,414 11,930,245 12,265,614 13,442,239 13,431,891 Public works 7,422,110 8,481,686 8,616,323 13,433,983 10,718,547 Parks and community services 9,349,729 9,731,003 10,791,185 8,934,718 13,585,706 Community development 9,102,734 6,059,180 11,348,674 11,652,735 6,700,773 Capital Outlay:
General 13,316,472 1,241,494 666,478 1,922,766 2,380,766 Community improvements 21,497 68,190 117,104 3,854 76,795 Parks 9,451,657 4,742,328 23,469,847 26,113,810 10,606,254 Public art - - - - - Streets 2,403,926 3,568,142 3,652,808 10,516,675 12,832,455 Debt Service:
Principal - - - - 1,345,484 Interest and fiscal charges - - - - - Total Expenditures 86,861,129 72,991,112 109,530,758 116,518,150 105,055,458 Excess of Revenues Over (Under)
Expenditures 5,714,574 31,888,516 26,690,193 4,340,781 29,170,408 Other Financing Sources (Uses)
Proceeds from Debt - - - 5,450,042 - Transfers In 25,192,268 9,625,456 27,912,037 38,313,026 24,363,489 Transfers Out (20,385,523) (9,455,561) (29,903,351) (37,969,675) (24,852,904) Total Other Financing Sources (Uses) 4,806,745 169,895 (1,991,314) 5,793,393 (489,415) Net Change in Fund Balances $ 10,521,319 $ 32,058,411 $ 24,698,879 $ 10,134,174 $ 28,680,993 Debt Service as percentage of non-
capital expenditures 0.0% 0.0% 0.0% 0.0% 1.7%
* Some of permits revenue has been considered to be an integral part of development revenue and therefore has been reclassed to development revenue effective in fiscal year 20/21.
Source: City of Dublin Finance Department
Fiscal Year
CITY OF DUBLIN, CALIFORNIA
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Accrual Basis of Accounting)
194 416
Revenues 2019 2020 2021 2022 2023
Property taxes $ 44,293,602 $ 49,086,335 $ 53,007,086 $ 55,186,388 $ 59,056,139 Taxes other than property 32,949,484 28,312,778 31,826,343 34,391,349 37,309,999 Intergovernmental 8,961,332 7,411,403 10,805,708 9,579,161 14,287,723 Licenses and permits* 291,788 236,972 334,852 354,643 323,098 Charges for services 16,786,806 14,433,980 11,934,020 15,941,968 17,077,374 Investment income 10,345,636 12,006,831 183,258 (11,905,192) 4,860,720 Use of property 1,519,342 1,381,729 1,208,739 2,032,711 2,565,042 Fines and forteitures 265,971 196,840 177,477 193,018 207,437 Development fees* 21,426,005 10,178,191 10,891,389 24,862,035 11,443,674 Special assessments 1,469,839 1,523,256 1,550,480 7,760,922 1,607,027 Other revernues 4,963,646 1,675,842 2,124,277 1,527,035 3,733,205 Total Revenues 143,273,451 126,444,157 124,043,629 139,924,038 152,471,438 Expenditures
Current:
General government 14,894,745 23,151,872 22,104,295 23,539,492 26,593,651 Police 21,983,278 22,177,174 23,755,356 25,381,768 27,510,001 Fire 14,269,535 14,244,913 14,760,311 15,699,080 16,297,807 Public works 14,708,764 13,821,133 14,105,010 15,710,181 20,599,510 Parks and community services 9,708,040 7,228,275 6,085,251 8,756,857 8,301,423 Community development 5,543,073 4,989,648 10,033,900 5,795,288 5,881,891 Capital Outlay:
General 11,240,369 9,828,253 6,614,602 12,978,975 11,829,805 Community improvements - - - - - Parks 1,081,809 6,180,120 4,170,540 13,400,686 4,539,778 Public art - - - - 474,814 Streets 14,666,554 5,488,030 3,116,314 4,030,047 13,053,219 Debt Service:
Principal 1,368,186 1,368,186 1,368,186 505,000 655,000 Interest and fiscal charges - - - 419,521 678,050 Total Expenditures 109,464,353 108,477,604 106,113,765 126,216,895 136,414,949 Excess of Revenues Over (Under)
Expenditures 33,809,098 17,966,553 17,929,864 13,707,143 16,056,489 Other Financing Sources (Uses)
Proceeds from Debt - - - 21,042,136 - Transfers In 27,100,426 21,651,510 14,046,539 30,644,511 29,950,377 Transfers Out (31,922,207) (22,172,960) (11,949,050) (31,524,026) (31,912,412) Total Other Financing Sources (Uses) (4,821,781) (521,450) 2,097,489 20,162,621 (1,962,035) Net Change in Fund Balances $ 28,987,317 $ 17,445,103 $ 20,027,353 $ 33,869,764 $ 14,094,454 Debt Service as percentage of non-
capital expenditures 1.9% 1.5% 1.4% 1.0% 1.2%
* Some of permits revenue has been considered to be an integral part of development revenue and therefore has been reclassed to development revenue effective in fiscal year 20/21.
Source: City of Dublin Finance Department
Fiscal Year
CITY OF DUBLIN, CALIFORNIA
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Accrual Basis of Accounting)
(Continued)
195 417
Fiscal City Wide
Year Real Property Net Taxable Average
Ended Residential Commercial Industrial Unsecured/ Less: Assessed Total Direct June 30 Property Property Property Other Property Exemptions Value Tax Rate 2014 7,135,260,308$ 1,336,760,537 $ 246,334,563 $ 1,035,990,618 $ (172,869,596) $ 9,581,476,430 $ 0.2380% 2015 8,431,051,125 1,391,578,857 274,410,187 1,138,571,747 (185,639,690) 11,049,972,226 0.2373% 2016 9,662,162,719 1,481,865,501 277,588,684 1,261,568,728 (152,705,687) 12,530,479,945 0.2367% 2017 10,563,641,612 1,572,348,815 276,986,936 1,412,347,150 (151,208,054) 13,674,116,459 0.2365% 2018 11,483,621,200 1,634,851,757 279,900,741 1,494,613,752 (91,891,868) 14,801,095,582 0.2364% 2019 12,705,642,088 1,713,788,644 284,936,683 1,623,924,258 (181,733,659) 16,146,558,014 0.2363% 2020 14,169,003,039 1,819,769,185 302,957,585 1,719,280,594 (181,569,809) 17,829,440,594 0.2360% 2021 15,481,016,928 2,109,649,340 303,634,663 1,516,019,943 (240,382,905) 19,169,937,969 0.2359% 2022 16,240,797,288 2,126,716,219 342,361,488 1,436,361,129 (240,405,849) 19,905,830,274 0.2358% 2023 18,427,843,464 2,403,746,968 371,768,732 1,339,595,244 (222,045,596) 22,320,908,812 0.2347% 116,410,913 5,205,377
Source: HDL Coren & Cone and Alameda County Assessor Combined Tax Rolls, 2013/14 through 2022/23 Note: Actual property value data not available in California. (1) California cities do not set their own direct tax rate. The state constitution establishes the rate at 1% and allocates a po rtion of that amount by an annual calculation, to all the taxing entities within a tax rate area. (2) The City-wide Direct Tax Rate is an average, the actual tax rate for each property varies according to its tax rate area.
This average tax rate is net of State Shifts of local property tax revenue to Education and net of Admin fees.
CITY OF DUBLIN, CALIFORNIA
Assessed Value of Taxable Property
Last Ten Fiscal Years
196 418
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197 419
City Direct Rates
Bay Area Castro Valley Chabot-Las Posita s Dublin
Fiscal Basic Tota l Rapid Unified Community Unified
Year Levy Direct Transit School Bond s College Boards Bonds 1A & B 2013-14 1.00000 0.23796 0.00430 0.09240 0.02190 0.09930 2014-15 1.00000 0.23730 0.00750 0.08510 0.02140 0.11470 2015-16 1.00000 0.23669 0.00450 0.08520 0.02170 0.10770 2016-17 1.00000 0.23650 0.00260 0.00000 0.01980 0.07670 2017-18 1.00000 0.23644 0.00800 0.00000 0.02460 0.09720 2018-19 1.00000 0.23632 0.00700 0.00000 0.04430 0.14520 2019-20 1.00000 0.23603 0.01200 0.00000 0.04220 0.14600 2020-21 1.00000 0.23593 0.01390 0.00000 0.02140 0.14240 2021-22 1.00000 0.23582 0.00600 0.00000 0.04580 0.19640 2022-23 1.00000 0.23469 0.01400 0.00000 0.03880 0.17160 Source: HDL Coren & Cone and Alameda County Assessor Combined Tax Rolls, 2013/14 thro ugh 2022/23 (1) 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. These are voter approved levies in addition to the 1% State levy.
(2) The City's share of the 1% Levy is based on the City's share of the general fund tax rate area with the largest net taxable value within the City.
Overlapping Rates (1)
(Rate per $100 of assessed value)
CITY OF DUBLIN, CALIFORNIA
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
198 420
East Bay Flood Zone 7 Livermore Valley County Total City's Share Fiscal Regional State Water Joint Unifie d Wide Direct & Overlappin g of 1% Levy per Year Park Bond s School Board Go Bond Tax Rate Proposition 13 2013-14 0.00510 0.02280 0.06070 0.00000 1.30650 0.2818
2014-15 0.00780 0.02570 0.05960 0.00000 1.32180 0.2818
2015-16 0.00850 0.02500 0.04970 0.00000 1.30230 0.2817
2016-17 0.00670 0.03430 0.00000 0.00000 1.14010 0.2818
2017-18 0.00320 0.03330 0.00000 0.00000 1.16630 0.2818
2018-19 0.00570 0.03320 0.00000 0.01120 1.24660 0.2818
2019-20 0.00600 0.03090 0.00000 0.01080 1.24790 0.2818
2020-21 0.00140 0.03090 0.00000 0.00360 1.21360 0.2818
2021-22 0.00200 0.03070 0.00000 0.00410 1.28500 0.2817
2022-23 0.00580 0.02790 0.00000 0.01030 1.26840 0.2817
(Continued)
CITY OF DUBLIN, CALIFORNIA
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(Rate per $100 of assessed value)
199 421
2022-23 2013-14
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
Kaiser $ 339,697,329 1 1.60%
Avalon at Dublin Station II, LP 252,319,482 2 1.19%
GH Pacvest LLC 146,567,133 3 0.69%
Ross Dress for Less 131,837,783 4 0.62%
4800 Tassajara Road Apts Invest LLC 130,529,328 5 0.62% Dublin Station Owner LLC 125,306,616 6 0.59%
Dublin Crossing LLC 123,537,632 7 0.58%
Dublin Corporate Center Owner LLC 119,269,187 8 0.56%
Essex Dublin Owner, LP 113,065,170 9 0.53%
Carl Zeiss Pension Trust Properties LLC 106,776,195 10 0.50% Trust NOIP Dublin, LP $ 152,108,352 1 1.61%
4800 Tassajara Road Apartments Investors 113,981,488 2 1.21% Dublin Station Owner, LLC 88,640,918 3 0.94%
Bere Island Properties I, LLC 87,196,783 4 0.92%
Tishman Speyer Archstone Smith Emerald 81,245,694 5 0.86% BIT Holding Sixty-Three, Inc 74,641,655 6 0.79%
KB Home South Bay, Inc 73,955,233 7 0.78%
Dublin Corporate Center 72,000,000 8 0.76%
Kaiser Foundation Hospitals 65,811,994 9 0.70%
Ross Dress for Less 61,582,600 10 0.65%
Subtotal $ 1,588,905,85 5 7.50% $ 871,164,717 9.22%
Source: HDL Coren & Cone and Alameda County Assessor Combined Tax Rolls
CITY OF DUBLIN, CALIFORNIA
Principal Property Tax Payers
Current year and Nine Years Ago
200 422
Fiscal
Year Current Percent Delinquent Tota l
Ended Tota l Tax of Levy Tax Tax Percent
June 30 Tax Levy Collection s Collected Collections Collections of Levy 2014 27,001,559$ 26,200,578 $ 97.03% 432,070 $ 26,632,648 $ 97.03% 2015 31,129,982 30,434,412 97.77% 412,643 30,847,054 97.77% 2016 35,304,627 34,734,843 98.39% 357,472 35,092,315 98.39% 2017 38,529,558 38,100,547 98.89% 335,955 38,436,502 98.89% 2018 41,708,007 41,594,518 99.73% 362,487 41,957,005 99.73% 2019 45,499,386 45,357,078 99.69% 330,947 45,688,025 99.69% 2020 50,245,147 50,102,147 99.72% 379,250 50,481,396 99.72% 2021 54,024,719 53,621,996 99.25% 520,190 54,142,186 99.25% 2022 56,098,611 56,018,305 99.86% 425,907 56,444,212 99.86% 2023 62,884,696 59,864,270 95.20% 437,794 60,302,064 95.20% Source: Alameda County Assessor Office
CITY OF DUBLIN, CALIFORNIA
Property Tax Levies and Collections
Last Ten Fiscal Years
201 423
Total Property Tax Assessed Value of Taxable Property
Estimated
Outstanding Percentage Share of
Debt Applicable to Overlapping
6/30/2023 City of Dublin (1) Debt
OVERLAPPING TAX AND ASSESSMENT DEBT:
Alameda County 515,890,000$ 5.656% 29,178,738$
Bay Area Rapid Transit District 2,484,285,000 2.225% 55,275,341 Chabot-Las Positas Community College District 756,200,000 13.640% 103,145,680 Dublin Joint Unified School District 630,082,953 99.983% 629,975,839 East Bay Regional Park District 175,955,000 3.463% 6,093,322 City of Dublin Community Facilities District No. 2015-1 117,335,000 100.00% 117,335,000 California Statewide Communities Development Authority 1915 Act Bonds 763,600 100.00% 763,600 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 941,767,520$
DIRECT AND OVERLAPPING GENERAL FUND DEBT
Alameda County General Fund Obligations 706,903,500 5.656% 39,982,462 Alameda-Contra Costa Transit District Certificates of Participation 11,220,000 0.168% 18,850 City of Dublin General Fund Obligations 17,405,000 100.000% 17,405,000 Dublin Unified School District General Fund Obligations 25,611,224 99.983% 25,606,870 Eden Township Healthcare District General Fund Obligations 13,235,000 0.818% 108,262 TOTAL DIRECT AND OVERLAPPING GENERAL FUND DEBT 83,121,444$ TOTAL DIRECT DEBT 17,405,000$
TOTAL OVERLAPPING DEBT 1,007,483,964$
COMBINED TOTAL DEBT (2)
1,024,888,964$
RATIOS TO ASSESSED VALUATION:
Total Overlapping Tax and Assessment Debt..………...….….4.44% Total Direct Debt .……………………….........................…...0.08% Combined Total Debt….………….…….…..…….…...……..4.84%
Source: California Municipal Statistics, Inc.
Notes:
(1) The percentage of overlapping debt applicable to the City is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total taxable assessed value. (2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations.
CITY OF DUBLIN, CALIFORNIA
Direct and Overlapping Debt
June 30, 2023
202 424
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203 425
Legal Debt Margin Calculation for Fiscal Year 2022-23
Assessed value (net) - June 30, 2023 (1) 22,320,908,812 Debt limit: 15% of assessed value 3,348,136,322
Less total bonded debt, general obligation -
Legal debt margin (2) 3,348,136,322
Conversion Percentage for Calculation of Debt Limit (3) 25% 837,034,080
2013-14 2014-15 2015-16 2016-1 7 2017-18
Debt limit 361,622,926 $ 416,774,836 $ 469,892,998 $ 512,779,367 $ 555,041,084 $ Total net debt
applicable to limit - - - - - Legal debt margin 361,622,926$ 416,774,836$ 469,892,998$ 512,779,367$ 555,041,084$ Total net debt applicable
to the limit as a percentage
of debt limit 0.0% 0.0% 0.0% 0.0% 0.0%
(1) Source: City of Dublin Finance Department
(3) The government code provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-82 fiscal year, each parcel in now assessed at 100% of market value (as of the most recent change in ownership parcel) in ownership for that parcel. The computations shown above reflect a conversion of assessed valuation data for each fiscal year from the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local governments located within the state.
(2) The legal debt margin for the City of Dublin, California, is calculated using a debt limit of 15 percent of the assessed value of property within the City limits. (Gov Code of State of California) $
$
$
Fiscal Year
CITY OF DUBLIN, CALIFORNIA
Legal Debt Margin Information
Last Ten Fiscal Years
204 426
2018-19 2019-20 2020-2 1 2021-22 2022-23
Debt limit 605,495,926 $ 668,604,022 $ 718,872,674 $ 746,468,635 $ 837,034,080 $ Total net debt
applicable to limit - - - - - Legal debt margin 605,495,926$ 668,604,022$ 718,872,674$ 746,468,635$ 837,034,080$ Total net debt applicable
to the limit as a percentage
of debt limit 0.0% 0.0% 0.0% 0.0% 0.0%
(Continued)
Fiscal Year
CITY OF DUBLIN, CALIFORNIA
Legal Debt Margin Information
Last Ten Fiscal Years
205 427
CITY OF DUBLIN, CALIFORNIA
Demographic And Economic Statistics
Last Ten Calendar Years
(Dollars in Thousands)
Per Capita Rank in Size
Fiscal City Personal Persona l Unemployment of
Year Population (1) Income, in thousands (1) Income (1) Rate (2) California Cities (3) 2013 53,462 2,321,908$ 43,431$ 3.5% 181
2014 54,695 2,333,289 42,660 3.6% 185
2015 57,349 2,562,296 44,679 2.9% 156
2016 59,686 2,836,816 47,529 2.7% 153
2017 60,939 3,101,125 50,889 2.8% 153
2018 63,445 3,441,955 54,251 2.7% 147
2019 64,826 3,789,339 58,454 2.5% 140
2020 72,589 4,464,441 61,503 6.6% 140
2021 71,674 4,465,505 62,303 4.2% 119
2022 72,060 4,876,156 67,668 4.6% 121
Sources: (1) US Census Buraeu, most recent estimates July 1, 2022 (2) State of California, Employment Development Department June 2023 (3) State of California, Department of Finance - California Cities Ranked by January 2023 Total Population 206 428
Total Number of Commercial Residential
Fiscal Year Ended Building Permits Construction Value Construction Value 30-Jun Issued (1) (1) (1) Bank Deposits (2)
2014 2,443 57,812,261$ 322,511,777$ N/A 2015 2,068 60,793,275 295,988,465 N/A 2016 2,812 102,148,173 323,747,409 N/A
2017 2,806 177,500,725 308,916,668 N/A 2018 2,803 54,086,352 383,817,023 N/A
2019 - 119,498,163 272,846,465 N/A 2020 1,866 45,031,310 157,262,586 N/A 2021 2,393 42,330,706 177,291,325 N/A 2022 2,437 70,148,588 258,217,767 N/A 2023 2,781 223,087,585 173,769,864 N/A Source: 1) City of Dublin Community Development Department
CITY OF DUBLIN, CALIFORNIA
Property Value, Construction, and Bank Deposits
Last Ten Fiscal Years
207 429
Estimated Estimated Estimated Estimated
Number of Number of Number of Number of
Employer Employees Rank Employees Rank Employees Rank Employees Rank United States Government
& Federal Correction Institute 2,100 1 2,100 1 2,100 1 2,100 1 County of Alameda 465 6 465 6 325 6 860 3
Dublin Unified School District 733 3 1,117 3 915 2 975 2 Ross Stores Headquarters 1,200 2 1,200 2 500 4 800 4
Zeiss Meditec 535 5 535 5 500 4 481 5
Kaiser Permanente - NA - NA - NA - NA
Patelco Credit Union - NA - NA - NA - NA
Snowflake, Inc. - NA - NA - NA - NA
Target Stores 412 7 388 7 350 5 350 8
T r i N e t -N A -N A -N A -N A
City of Dublin 221 10 N/A N/A 237 9 377 7
SAP (Formerly: Sybase Corporation) 604 4 604 4 700 3 - NA De Silva Gates Construction N/A N/A 300 9 300 7 300 9
Whole Foods - NA - NA - NA - NA
Callidus Cloud N/A N/A 350 8 350 5 400 6
Micro Dental Laboratories 242 8 - NA - NA - NA
Safeway 284 9 284 10 280 8 280 10
Subtotal 6,796 7,343 6,557 6,923
Total City Day Population
Source: City of Dublin Office of Economic Development
2017201620152014
CITY OF DUBLIN, CALIFORNIA
Principal Employers
Current Year and Prior Year
(Dollars in thousands)
208 430
Estimated Estimated Estimated Estimated
Number of Number of Number of Number of
Employer Employees Rank Employees Rank Employees Rank Employees Rank United States Government
& Federal Correction Institute 2,100 1 1,450 1 1,400 1 1,608 1 County of Alameda 870 4 975 4 1,165 2 1,165 2
Dublin Unified School District 1,007 2 1,096 3 1,115 3 1,070 4 Ross Stores Headquarters 950 3 1,100 2 1,100 4 1,100 3
Zeiss Meditec 465 5 450 6 450 6 620 5
Kaiser Permanente - NA 600 5 510 5 600 6
Patelco Credit Union - NA - NA 380 8 404 7
Snowflake, Inc. - NA - NA - NA - NA
Target Stores 325 9 380 9 380 8 350 9
TriNet 343 8 400 8 400 7 363 8
City of Dublin 433 6 400 7 332 10 250 10
SAP (Formerly: Sybase Corporation) - N A- N A- N A- N A De Silva Gates Construction - N A- N A- N A- N A
Whole Foods 240 NA 350 10 - NA - NA
Callidus Cloud - NA - NA - NA - NA
Micro Dental Laboratories - N A- N A- N A- N A
Safeway - NA - NA - NA - NA
Subtotal 6,733 7,201 7,232 7,530
Total City Day Population
Source: City of Dublin Office of Economic Development
2018 202120202019
(Continued)
CITY OF DUBLIN, CALIFORNIA
Principal Employers
Current Year and Prior Year
(Dollars in thousands)
209 431
Estimated Estimated
Number of Number of
Employer Employees Rank Employees Rank
United States Government
& Federal Correction Institute 1,589 1 3,275 1
County of Alameda 1,307 2 1,274 2
Dublin Unified School District 1,200 3 1,235 3
Ross Stores Headquarters 1,160 4 1,188 4
Zeiss Meditec 692 6 831 5
Kaiser Permanente 601 7 662 6
Patelco Credit Union 831 5 442 7
Snowflake, Inc. 250 9 350 8
Target Stores 344 8 341 9
TriNet 215 10 215 10
City of Dublin - NA - NA
SAP (Formerly: Sybase Corporation) -N A -N A
De Silva Gates Construction -N A -N A
Whole Foods - NA - NA
Callidus Cloud - NA - NA
Micro Dental Laboratories -N A -N A
Safeway - NA - NA
Subtotal 8,189 9,813
Total City Day Population
Source: City of Dublin Office of Economic Development
20232022
(Continued)
CITY OF DUBLIN, CALIFORNIA
Principal Employers
Current Year and Prior Year
(Dollars in thousands)
210 432
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211 433
2014 2015 2016 201 7 2018
City Manager Office 16.25 18.25 18.50 18.00 19.00 Finance 7.50 7.75 7.75 8.00 8.00 Community Development 18.45 18.45 18.45 19.95 19.95 Fire 1.00 1.00 1.00 1.00 1.00 Police 6.00 5.00 5.00 4.00 4.00 Parks & Community Services 21.85 22.10 24.10 24.60 24.60 Public Works 15.95 18.95 18.95 19.45 18.45 Total 87.00 91.50 93.75 95.00 95.00 Source: City of Dublin Finance Department
CITY OF DUBLIN CALIFORNIA
Full-Time Equivalent City Employees by Department
Last Ten Fiscal Years
212 434
2019 2020 202 1 2022 2023
City Manager Office 20.10 19.10 22.00 25.00 26.00 Finance 8.00 9.00 9.00 9.00 8.00 Community Development 19.35 19.35 18.00 19.00 19.00 Fire 1.00 1.00 1.00 1.00 1.00 Police 4.00 4.00 4.00 4.00 4.00 Parks & Community Services 23.10 23.10 22.00 23.00 23.00 Public Works 18.45 18.45 18.00 18.00 21.00 Total 94.00 94.00 94.00 99.00 102.00 Source: City of Dublin Finance Department
(Continued)
CITY OF DUBLIN CALIFORNIA
Full-Time Equivalent City Employees by Department
Last Ten Fiscal Years
213 435
Function/Program 2014 2015 2016 201 7 2018
Police:
Calls for Service 34,567 32,496 35,005 38,688 38,568 Citations Issued 8,530 7,175 7,087 7,164 7,051 Arrests 1,934 1,091 1,225 1,315 1,653 Fire:
Emergency Calls 2,859 2,667 2,734 2,848 3,247 Inspections 3,664 3,948 4,304 4,141 4,034 Building Plan Reviews and Consultations 1,561 1,072 1,633 1,654 1,195 Public Works:
Bike Path Maintenance (hours) 749 416 799 695 742 Street Sign Maintenance (number of signs) 426 368 510 359 1,838 Curb Painting (linear feet) 5,808 32,512 2,922 3,846 3,216 Replace Street Asphalt (square feet) 18,112 15,800 31,000 73,436 75,087 Street Sweeping (curb miles) 5,931 5,953 5,993 6,026 8,033 Parks and Community Services:
Museum Visitors 8,256 5,272 3,591 3,525 3,422 Afterschool Recreation (participants/day) 322 364 363 367 40 5 Preschool Classes Participants 430 327 335 158 131 Youth Basketball League Participants 911 994 1,074 1,156 1,035 Senior Center Average Daily Attendance 220 233 236 274 279 Community Development:
Planning Applications 59 56 52 58 48 Building Permits 2,443 2,068 2,812 2,806 2,803 Building Inspections 22,345 20,197 20,784 25,186 25,574 Source: City of Dublin
CITY OF DUBLIN CALIFORNIA
Operating Indicators by Function/Program
Last Ten Fiscal Years
214 436
Function/Program 2019 2020 202 1 2022 2023
Police:
Calls for Service 38,480 34,643 30,018 30,414 34,191 Citations Issued 7,968 5,806 5,582 5,367 5,821 Arrests 1,821 1,510 1,514 1,496 1,778 Fire:
Emergency Calls 3,245 3,443 3,692 4,797 4,565 Inspections 4,284 2,964 2,628 1,875 2,520 Building Plan Reviews and Consultations 797 490 606 873 917 Public Works:
Bike Path Maintenance (hours) 969 863 874 1,071 560 Street Sign Maintenance (number of signs) 2,569 546 664 428 428 Curb Painting (linear feet) 3,893 14,502 123 305 2,472 Replace Street Asphalt (square feet) 1,636,012 2,270,000 117,767 36,695 750,000 Street Sweeping (curb miles) 7,936 7,210 8,146 8,733 8,735 Parks and Community Services:
Museum Visitors 2,757 2,011 147 560 365 Afterschool Recreation (participants/day) 416 334 649 528 66 4 Preschool Classes Participants 160 185 98 308 274 Youth Basketball League Participants 1,075 792 - 683 1,149 Senior Center Average Daily Attendance 299 245 222 166 475 Community Development:
Planning Applications 31 40 52 44 44 Building Permits 2,350 1,866 2,393 2,437 2,781 Building Inspections 20,951 13,339 10,759 14,178 12,633 Source: City of Dublin
(Continued)
CITY OF DUBLIN CALIFORNIA
Operating Indicators by Function/Program
Last Ten Fiscal Years
215 437
2014 2015 2016 201 7 2018
Function/Program
Public safety:
Police stations 1 1 1 1 1 Fire stations 3 3 3 3 3 Public works:
Street Lights 4,513 4,520 4,530 4,540 4,631 Miles of Streets 120 120 120 127 128 Miles of curbs 248 248 248 254 256 Traffic Signals 93 93 94 95 97 City Trees 7,477 7,521 8,55 6 8,526 8,776
City Landscape (acres) 69 70 74 74 103 Parks and recreation:
Number of Community Facilities 7 6 6 7 7 Number of City Parks 18 18 18 18 20 Acres of City Parks 171 171 171 171 200 Acres of Open Space 125 125 125 125 125 Source: City of Dublin
Fiscal Year
CITY OF DUBLIN, CALIFORNIA
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
216 438
2019 2020 202 1 2022 2023
Function/Program
Public safety:
Police stations 1 1 1 1 1 Fire stations 3 3 3 3 3 Public works:
Street Lights 4,631 4,736 5,131 5,095 4,525 Miles of Streets 151 151 151 148 136 Miles of curbs 305 305 305 305 328 Traffic Signals 98 98 98 98 98 City Trees 9,263 12,355 12,208 13,13 0 13,844
City Landscape (acres) 107 150 176 178 205 Parks and recreation:
Number of Community Facilities 7 7 7 7 7 Number of City Parks 21 23 23 25 25 Acres of City Parks 210 223 223 267 267 Acres of Open Space 125 125 125 125 125 Source: City of Dublin
(Continued)
Fiscal Year
CITY OF DUBLIN, CALIFORNIA
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
217 439
Business Name Business Category
Associate Building Supply Lumber/Building Materials
B&S Hacienda Auto Body Auto Repair
Best Buy Electronics/Appliances Store
Carl Zeiss Meditec USA Health/Medical
Curtis Blue Line Machinery, Equipment, and Supplies
Dick's Sporting Goods Sporting Goods/Bike Store
Dougherty Road Shell Service Station
Dublin Buick/GMC/Chevrolet/Infiniti Motor Vehicle Dealer Dublin Hyundai Genesis Motor Vehicle Dealer
Dublin Nissan Dublin Infiniti Motor Vehicle Dealer
Fallon Gateway Chevron Service Station
Graybar Electric Electrical Equipment
Honda Motor Vehicle Dealer
Lowes Lumber/Building Materials
Mazda Motor Vehicle Dealer
Nordstrom Rack Family Apparel
Pace Supply Corp Plumbing/Electrical Supplies
Safeway Grocery/Liquor Stores
Safeway Fuel Station Service Stations
Target Discount Dept Stores
Tesla Motors Motor Vehicle Dealer
Toyota Motor Vehicle Dealer
United Rentals Repair Shop/Hand Tool Rentals
Volkswagen Motor Vehicle Dealer
Volvo Cars Dublin Motor Vehicle Dealer
Source: City of Dublin Office of Economic Development
CITY OF DUBLIN, CALIFORNIA
Top 25 Sales Tax Producers
2022-23
218 440
General
Date of Incorporation February 1, 1982
Form of Government Council/ Manager
Total Population (Estimated per the California Dept. of Finance, January, 2023) 71,750 Number of Registered Voters 34,917
Employees (Full Time Equivalent) 102
Area (Square Miles) 15.23
Parks and Recreation
Parks 25
Acres in Parks 267
Acres in Open Space 125
Public Education
Elementary Schools 7
K-8 1
Middle Schools 2
High School 1
Continuation High School 1
Under Construction (Emerald High) 1
School Enrollment 12,813
Police Protection
Number of Stations 1
Police Personnel (Full Time Equivalent) 4
Fire Protection
Number of Stations 3
Fire Personnel (Full Time Equivalent) 1
Community Facilities
Dublin Civic Center 1
Dublin Senior Center 1
Dublin Heritage Center 1
Dublin Public Library 1
Shannon Community Center 1
Emerald Glen Activity Center 1
The Wave (Aquatics Facility) 1
Dublin Public Safety Complex 1
Source: City of Dublin
CITY OF DUBLIN, CALIFORNIA
Miscellaneous Statistical Data
June 30, 2023
219 441
Dublin, California
Auditors’ Communication with
Those Charged with Governance
For the year ended June 30, 2023
Attachment 3
442
443
December 12, 2023
To the Honorable Mayor and Members
of the City Council of the City of Dublin
Dublin, California
We have audited the financial statements of the City of Dublin (City) as of and for the year ended June 30, 2023 , and have issued our report thereon dated December 12, 2023. Professional standards require that we advise you of the following matters relating to our audit.
Our Responsibility in Relation to the Financial Statement Audit and the Single Audit As communicated in our engagement letter dated April 26, 2023, our responsibility, as described by professional standards, is to form and express an opinions about whether the financial statements t h a t h a v e b e e n p r e p a r e d b y m a n a g e m e n t w i t h y o u r o v e r s i g h t a r e p r e s e n t e d f a i r l y , i n a l l m a t e r i a l respects, in accordance with acco unting principles generally accepted in the United States of America. Our audit of the financial statements does not relieve you or management of your respective responsibilities.
Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. An audit of financial statem ents includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. Accordingly, as part of our audit, we considered the internal control of the City solely for the purpos e of determining our audit procedures and not to provide any assurance concerning such internal control.
We also considered internal control over compliance with requirements that could have a direct and material effect on a major federal program in or der to determine our auditing procedures for the purpose of expressing our opinion on compliance an d to test and report on internal control over compliance in accordance with the Uniform Guidance.
We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process.
However, we are not required to design procedures for the purpose of identifying other matters to communicate to you.
444
To the Honorable Mayor and Members
of the City Council of the City of Dublin
Dublin, California