El Cerrito City Council
February 4, 2025

Mayor Councilmembers
Carolyn Wysinger William Ktsanes
Mayor Pro Tem Lisa Motoyama
Gabe Quinto AGENDA Rebecca Saltzman

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TUESDAY, FEBRUARY 4, 2025
REGULAR CITY COUNCIL MEETING (6:00 PM)
City Council Chambers - 10890 San Pablo Ave, El Cerrito Closed Captions available Via Zoom:
https://us06web.zoom.us/j/82058028323?pwd=aanVbEA0GiIDTOD1lWJ4SJMcJf4tl8.1 Meeting ID: 820 5802 8323 Password: 478755 Dial in: 1-408-638-0968 View:

1. Cable T.V. Broadcast on KCRT Channel 28

2. Livestream Online at www.el-cerrito.org/CouncilMeetingMaterials Accommodations: In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the City Clerk at 510- 215-4305. Notification 48 hours prior to the meeting will enable the City to make reasonable accommodations. Closed Captions available via zoom.

Conduct: This meeting shall be conducted pursuant to the El Cerrito City Council Rules of Order and Procedure, including adjourning by 11:00 PM unless extended to a specific time determined by a majority of the Council.

Public Comments:

1. In-person by submitting a request to speak to the City Clerk.

2. By Email to [email protected] identified in the subject line as Public Comments – Agenda Item #.

Written comments received by 2:00 p.m. the day of the meeting will be provided to the City Council and posted online in advance of the meeting. Comments received after the deadline will be provided to the City Council and will be posted after the meeting.

Agenda Packet Page 1 of 206
Mayor Councilmembers
Carolyn Wysinger William Ktsanes
Mayor Pro Tem Lisa Motoyama
Gabe Quinto AGENDA Rebecca Saltzman

6:00 PM ROLL CALL – CONVENE REGULAR CITY COUNCIL MEETING

1. CONSIDER AND TAKE ACTION ON ANY REQUEST FROM A

COUNCILMEMBER TO PARTICIPATE IN THE MEETING REMOTELY DUE TO EMERGENCY CIRCUMSTANCES PURSUANT TO AB 2449

2. PLEDGE OF ALLEGIANCE TO THE FLAG OR OBSERVATION OF A

MOMENT OF SILENCE

3. TELECONFERENCE AND PUBLIC COMMENT INSTRUCTIONS

4. COUNCIL/STAFF COMMUNICATIONS
Reports of closed session, commission appointments and informational reports on matters of general interest which are announced by the City Council and staff.

5. ORAL COMMUNICATIONS FROM THE PUBLIC
Remarks are typically limited to 3 minutes per person. The Mayor may reduce the time limit per speaker depending upon the number of speakers and may limit the total time for public comment to facilitate the completion of business on the agenda. Comments regarding non-agenda, presentation and consent calendar items will be heard first.

Comments related to items appearing on the Public Hearing or Policy Matter portions of the Agenda will be heard prior to the City Council taking action on each item.

6. PRESENTATIONS
A. Recognition of 2024 Exemplary Police Employees
Action Proposed: Approve a proclamation recognizing the 2024 exemplary contributions of 1) Officer James Rizzo (2024 Officer of the Year), 2) Records Specialist Leslie Miranda (2024 Professional Staff of the Year), and 3) Volunteer Atcha Blacklock (2024 Volunteer of the Year).

Contact: Paul Keith, Chief of Police, El Cerrito Police Department B. Recognition of 2024 Firefighter of the Year
Action Proposed: Approve a proclamation recognizing Engineer Anthony Dawson as the 2024 Firefighter of the Year
Contact: Eric Saylors, Fire Chief, Fire Department
Agenda Packet Page 2 of 206
Mayor Councilmembers
Carolyn Wysinger William Ktsanes
Mayor Pro Tem Lisa Motoyama
Gabe Quinto AGENDA Rebecca Saltzman

C. A3 Contra Costa Presentation
Action Proposed: Receive and file a brief presentation on services and response provided to El Cerrito.

Contact: Debbie Thomas, MH Program Manager; Eric Jackson, Supervisor, A3 Contra Costa

7. ADOPTION OF THE CONSENT CALENDAR
All items on the consent calendar shall be acted upon in one motion, unless a member of the City Council or staff request separate consideration.

A. Black History Month Proclamation
Action Proposed: Pass a motion to approve a proclamation declaring February as Black History Month in the City of El Cerrito.

Contact: Shannon Bassi, Human Resources Manager, City
Management
B. 2024 Meeting Report for Boards, Commissions, and Committees Action Proposed: Receive and file a report of meetings held by City Board, Commission and Committees for the Calendar Year of 2024.

Contact: Holly M. Charléty, City Clerk, City Management

8. PUBLIC HEARINGS

9. POLICY MATTERS
A. FY 2024-25 Second Quarter General Fund Budget Quarterly Update through December 2024
Action Proposed: Receive and file an update on City General Fund revenues and expenses for FY 2024-25 through December 2024.

Contact: Crystal Reams, Finance Director/City Treasurer, Finance Department
B. FY 2023-24 Annual Comprehensive Financial Report (ACFR) Action Proposed: Receive and file the transmittal of the Fiscal Year 2023-2024 Annual Comprehensive Financial Report
Agenda Packet Page 3 of 206
Mayor Councilmembers
Carolyn Wysinger William Ktsanes
Mayor Pro Tem Lisa Motoyama
Gabe Quinto AGENDA Rebecca Saltzman

Contact: Crystal Reams, Finance Director, Finance Department; Sheldon Chavan CPA, Managing Partner, Chavan and Associates, LLC

10. CITY COUNCIL LOCAL & REGIONAL LIAISON ASSIGNMENTS
Mayor and City Council communications regarding local and regional liaison assignments, committee reports, and any required reporting under AB 1234 for meetings (as defined by the Brown Act) attended at the public's expense.

11. ADJOURN REGULAR CITY COUNCIL MEETING
The next regularly scheduled City Council meeting is Tuesday, February 18, 2025 at 6:00 p.m.

The City of El Cerrito serves our diverse community by providing exceptional services that create a safe and resilient future for all.

Agenda Packet Page 4 of 206
Agenda Item No. 6.A.

EL CERRITO CITY COUNCIL PROCLAMATION
Commending and Congratulating Officer James Rizzo for his Selection as El Cerrito Police Department Officer of the Year
WHEREAS, James Rizzo began his career as a Police Recruit for the City of El Cerrito in 2023, and became a Police Officer later that year; and WHEREAS, James Rizzo quickly became an great contributor to his patrol team, leading the department in arrests in 2024; and
WHEREAS, James Rizzo focused his patrol on dangerous driving and apprehended thirty two intoxicated drivers in 2024; and WHEREAS, he brings a calm presence to calls at which emotions are high, deescalating them with his presence and professionalism; and WHEREAS, James Rizzo was recognized with the William K. Zink Memorial Ground Pounder Award for his efforts to combat drunk driving in 2024; and WHEREAS, James Rizzo was the primary officer on over twelve hundred calls for service in 2024, helping to solve problems and keep community members safe; and WHEREAS, James Rizzo had a truly standout performance with a clear dedication to making the roadways of El Cerrito safer through proactive patrol and collaboration.

NOW THEREFORE, the City Council of the City of El Cerrito does hereby commend and congratulate Officer James Rizzo on the occasion of his recognition as Officer of the Year. The City Council extends sincere appreciation to Officer James Rizzo for his devotion to the mission, vision, and values of the El Cerrito Police Department.

Dated: February 4, 2025
___________________________
Carolyn Wysinger, Mayor
Agenda Packet Page 5 of 206

EL CERRITO CITY COUNCIL PROCLAMATION
Commending and Congratulating Records Specialist Leslie Miranda for her Selection as El Cerrito Police Department Professional Staff of the Year WHEREAS, Leslie Miranda began her career with the El Cerrito Police Department as a Records Specialist in 2022; and
WHEREAS, Leslie Miranda quickly mastered the elements of her job; and WHEREAS, she was nominated by her coworkers for being helpful, professional and knowledgeable; and
WHEREAS, she calmly assists community members with their problems, whether they are large or small; and
WHEREAS, Leslie Miranda received recognition in 2024 for her assistance with a fatal hit and run collision investigation in which her translation skills lead to a confession from the suspect and were a critical element in solving the case; and WHEREAS, Leslie Miranda’s friendly demeanor helps create a welcoming environment in not just the Records Division but in the Police Department as a whole; and
WHEREAS, Leslie Miranda has displayed her dedication through her can-do attitude, prompt assistance, and compassion to her coworkers and community members.

NOW THEREFORE, the City Council of the City of El Cerrito does hereby commend and congratulate Records Specialist Leslie Miranda on the occasion of her recognition as El Cerrito Police Professional Staff of the Year. The City Council extends sincere appreciation to Leslie Miranda for her devotion to the mission, vision, and values of the El Cerrito Police Department.

Dated: February 4, 2025
___________________________
Carolyn Wysinger, Mayor
Agenda Packet Page 6 of 206

EL CERRITO CITY COUNCIL PROCLAMATION
Commending and Congratulating Atcha Blacklock for her Selection as El Cerrito Police Department Volunteer of the Year
WHEREAS, Atcha Blacklock completed the El Cerrito Police Department Community Police Academy; and
WHEREAS, Atcha Blacklock became a volunteer with the El Cerrito Police Department in 2018; and
WHEREAS, she has served the El Cerrito Police Department and El Cerrito Community with unwavering energy and commitment; and
WHEREAS; she has served as a role player for the Contra Costa County Law Enforcement Training Center and the El Cerrito Police Department, helping officers experience real world scenarios and being arrested time and time again; and WHEREAS, she has supported police staff, in small ways and large, to ensure they are appreciated and recognized; and
WHEREAS, Atcha Blacklock has also been a valuable community member, owning small businesses that contributed to the fabric of the city and created connections between El Cerrito residents; and
WHEREAS, Atcha Blacklock is a passionate supporter of the El Cerrito Police Department and supports police events through her volunteer efforts.

NOW THEREFORE, the City Council of the City of El Cerrito does hereby commend and congratulate Atcha Blacklock on the occasion of her recognition as Police Volunteer of the Year. The City Council extends sincere appreciation to Atcha Blacklock for her devotion to the mission, vision, and values of the El Cerrito Police Department.

Dated: February 4, 2025
___________________________
Carolyn Wysinger, Mayor
Agenda Packet Page 7 of 206
Agenda Item No. 6.B.

EL CERRITO CITY COUNCIL PROCLAMATION
Commending and Congratulating Engineer Anthony Dawson for his Selection as El Cerrito Fire Department Firefighter of the Year 2024 WHEREAS, Engineer Anthony Dawson began his career in El Cerrito as a Firefighter on October 11, 2015 and has adapted to the many diverse roles that fire employees play in the success of the El Cerrito-Kensington Fire Department; and WHEREAS, Engineer Anthony Dawson has continued to advance his career by fulfilling positions that demanded great responsibility which is demonstrated by his promotion to Engineer on January 13, 2019; and
WHEREAS, Engineer Anthony Dawson lead the effort for the development of a new Engineer Training Program; and
WHEREAS, Engineer Anthony Dawson is an active participant with the department apparatus committee, bringing the “clean cab” concept to El Cerrito-Kensington to reduce firefighter exposure to carcinogens; and
WHEREAS, Engineer Dawson serves as a lead instructor for the El CerritoRichmond Joint Fire Academy; and WHEREAS, Engineer Anthony Dawson demonstrates continual growth within the Fire Department and exhibits exemplary leadership skills; and WHEREAS, Engineer Anthony Dawson has been an example of an excellent role model for the members of the department, displaying enthusiasm for training at all hours, encouraging others to be better firefighters and is always a pleasure to work with; and WHEREAS, Engineer Anthony Dawson was chosen by his colleagues to receive the Firefighter of the Year 2024 for his exemplary leadership and dedication to the department.

NOW THEREFORE, the City Council of the City of El Cerrito does hereby commend and congratulate Engineer Anthony Dawson on the occasion of his recognition as Firefighter of the Year. The City Council extends sincere appreciation to Engineer Anthony Dawson for his devotion to the community and residents of El Cerrito.

Dated: February 4, 2025
___________________________
Carolyn Wysinger, Mayor
Agenda Packet Page 8 of 206
A3 Crisis
Response
Agenda Item No. 6.C.

Agenda Packet Page 9 of 206
Agenda
• The Need
• Who Are We?
• History of A3 Miles Hall Crisis Call
Center
• Emergency Response
• A3 Vision
• Where we stand today
• Multidisciplinary Team
• Level of Response Teams
Agenda Packet Page 10 of 206
The Need…
Out of approximately 1.2M residents, around 200,000 people in Contra Costa County will need mental health services1 in 5 adults experience
mental health
challenges
Third most
common ambulance
call
6,300+
visits to
Psychiatric
Emergency
Services
Agenda Packet Page 11 of 206
Who Are We?
A3 is a team of behavioral health professionals who are experts in mental health, substance use counseling, peer support and social needs
Agenda Packet Page 12 of 206
• Miles was a 23-year-old Black man who
was tragically killed by law enforcement
while suffering a severe mental health
incident.

History of A3 Miles Hall Crisis Call Center
A3 MILES HALL
Crisis Call Center
844-844-5544
24/7
• After Miles' death, Taun (Mile’s
mother) advocated for systemwide change to prevent
unnecessary suffering and loss
of life.
• Today, A3 continues to refine
processes and expand partnerships.

Agenda Packet Page 13 of 206
Behavioral Health: 4th Arm of Emergency Response…
Law Enforcement Medical
Fire Behavioral Health
Agenda Packet Page 14 of 206
Agenda Packet Page 15 of 206
Where We Stand Today
Operations
• 24/7
People Served in 2024
• 20,173 Calls
• 3,764 teams dispatched for field visits
Law Enforcement Requests in 2024
• 1,089 calls for services were coordinated with Law Enforcement Public Dashboard Available for updated information
• https://www.cchealth.org/get-care/a3-crisis-response/a3-dashboard Agenda Packet Page 16 of 206
Multidisciplinary Team
• Interventionists
• Peer Support Specialist
• Substance Use Disorder Counselor
• Mental Health Clinician
• Nurse (RN, NP)
Agenda Packet Page 17 of 206
Level of Response
• Interventionists
• Team of 2 interventionalists
• Level 1 Response
• Peer Specialist and/or SUD
• Level 2 Response
• Mental Health Clinician/Nurse and Peer Specialist/SUD • Level 3 Response
• Mental Health Clinician/Nurse, Peer Specialist and/or SUD with Police Standby • (Weapons, Firearms, Violence)
Agenda Packet Page 18 of 206
Providing hope…
Providing timely,
appropriate behavioral
health crisis
services to anyone,
anywhere at anytime in
Contra Costa County.

Agenda Packet Page 19 of 206
cchealth.org/a3
12 2022 League of California Cities
Helen Putnam Award
for
Intergovernmental Collaboration
Miles Hall Crisis Call Center
844-844-5544
Agenda Packet Page 20 of 206
Agenda Item No. 7.A.

EL CERRITO CITY COUNCIL PROCLAMATION
Recognizing February as Black History Month in the City of El Cerrito WHEREAS, much of the City of El Cerrito’s honor, strength and distinction can be attributed to the diversity of cultures and traditions that are celebrated by our residents; and
WHEREAS, African Americans have played a significant role in the history of our nation and California’s economic, cultural, spiritual, and political development while working tirelessly to promote their culture and history; and WHEREAS, as a result of their determination, hard work, and perseverance, African Americans have made valuable and lasting contributions to our community and our state, achieving exceptional success in all aspects of society including business, education, politics, science, and the arts; and
WHEREAS, in 1976, Black History Month was formally adopted to honor and affirm the importance of Black History throughout our American experience, and is full of individuals who took a stance against prejudice, advanced the cause of civil rights, strengthened families, communities, and our nation; and WHEREAS, all Americans are encouraged to reflect on past successes and challenges of African Americans and look to the future to improve society so that we live up to the ideals of freedom, equality, and justice; and WHEREAS, the Pan-African flag, also known as the UNIA (Universal Negro Improvement Association) flag, was created in 1920 to represent people of the African diaspora and to symbolize black liberation in the United States. The flag is an emblem of Black pride and symbolizes the union of governance, people, and territory.

NOW THEREFORE, the City Council of the City of El Cerrito does hereby declare February as Black History Month in the City of El Cerrito and invites everyone to recognize and celebrate the diversity and character of our community and highlight the importance of sharing our culture, customs, and traditions with those around us. And furthermore, recognizes Black History Month by flying the Pan-African Flag at City Hall during the month of February.

Dated: February 4, 2025
__________________________
Carolyn Wysinger, Mayor
Agenda Packet Page 21 of 206

AGENDA BILL
Agenda Item No. 7.B.

Date: February 4, 2025
To: El Cerrito City Council
From: Holly M. Charléty, City Clerk, City Management
Subject: 2024 Meeting Report for Boards, Commissions, and Committees

ACTION PROPOSED
Receive and file a report of meetings held by City Board, Commission and Committees for the Calendar Year of 2024.

BACKGROUND/ANALYSIS
In 2023, the City Council formed an Ad-Hoc committee to review and discuss areas pertaining to City Board, Commissions, and Committees (Advisory Bodies). Subsequent to two study sessions held, the City Council adopted a resolution implementing modifications to several areas, including the meeting frequency of Advisory Bodies. The El Cerrito Municipal Code was modified to reduce the minimum meeting schedule to quarterly (from Monthly), to allow more flexibility on the meeting needs of each individual advisory body. Part of the direction in the adopted resolution included an annual report to the City Council detailing the total meetings held in the prior calendar year. This information is presented below.

STRATEGIC PLAN CONSIDERATIONS
This action supports the City’s Strategic Plan Goal(s) of:
• High Performing Organization
Agenda Packet Page 22 of 206
Agenda Item No. 7.B.

ENVIRONMENTAL CONSIDERATIONS
This section is not applicable to this agenda item.

FINANCIAL CONSIDERATIONS
This section is not applicable to this agenda item.

LEGAL CONSIDERATIONS
This section is not applicable to this agenda item.

Reviewed by:

Karen Pinkos, City Manager
Attachments:

Agenda Packet Page 23 of 206

AGENDA BILL
Agenda Item No. 9.A.

Date: February 4, 2025
To: El Cerrito City Council
From: Crystal Reams, Finance Director/City Treasurer, Finance Department Subject: FY 2024-25 Second Quarter General Fund Budget Quarterly Update through December 2024

ACTION PROPOSED
Receive and file an update on City General Fund revenues and expenses for FY 2024- 25 through December 2024.

BACKGROUND AND ANALYSIS
The El Cerrito City Council adopted an annual Budget for FY 2024-25 on June 18, 2024, as part of the FY 2024-25 and 2025-26 Biennial Budget. The Council has closely monitored the City’s budget and financial position and directed City staff to submit quarterly General Fund financial update reports.

The General Fund Update (Attachment 1) includes information on revenues and expenditures and lists the year-to-date totals by classification and by department. This report summarizes the major General Fund revenue and expenditure categories through December 31, 2024 on a cash basis (excluding the pre-payment of the City's UAL) and includes comparisons to the prior year's actuals. Similar to the second quarter reports from prior fiscal years, revenue cycles for many revenue sources - including property taxes - occur in the second, third and fourth quarters of the fiscal year.

Consequently, revenue receipts are not realized in equal quarterly amounts.

The following are FY 2024–25 highlights occurring for the report period of July 1, 2024, through December 31, 2024, and reflect preliminary unaudited cash basis information:

1. Total revenue was $22.4 million, approximately 44% of the adopted FY 2024-25 budget. As a reminder, property taxes are the City's largest income category and are received in December and April each year. The majority of revenues are nondepartmental, as they are general and not allocated to one department.

2. Real property transfer taxes collected through November (cash basis) are $1.1 million which is 38% of the adopted FY 2024-25 budget. This is in line with what was collected in the second quarter of FY 2023-24 at 39% of the adopted budget.

3. Total expenditures were $26.7 million, approximately 51% of the adopted budget, which is slightly lower than the 52% from the second quarter of FY 2023-24. The annual premium for workers' compensation, which was previously paid in two installments, was paid in one installment for FY 2023-24.

Agenda Packet Page 24 of 206
Agenda Item No. 9.A.

4. Personnel costs of $19.7 million include all personnel related costs. Personnel is the largest component of General Fund expenditures (73%). Currently, the City has a 8.55% vacancy rate.

STRATEGIC PLAN CONSIDERATIONS
This report is consistent with the City’s Strategic Plan Goal High-Performing Organization: Ensure the City maintains a strong financial position – and will allow the City Manager to develop a plan to ensure that Citywide revenue meets the cost of providing Citywide services, including adequate reserves in the face of significant unanticipated revenue shortfalls. It further ensures procedures that represent best practices in financial management.

ENVIRONMENTAL CONSIDERATIONS
This section is not applicable to this agenda item.

FINANCIAL CONSIDERATIONS
The unaudited FY 2024-25 General Fund Second Quarter Update reflects revenues totaling $22.4 million (44% of budget), and expenditures at a total of $26.7 million (51% of budget). The projected unaudited year-end total fund balance is estimated to be $21.9 million; this includes $9 million designated for the EDRF and $1.37 million in the Section 115 Trust.

LEGAL CONSIDERATIONS
This section is not applicable to this agenda item.

Reviewed by:

Karen Pinkos, City Manager
Attachments:

1. FY 2024-25 2nd Quarter General Fund Update
Agenda Packet Page 25 of 206

General Fund Budget Update
Quarter 2 FY 2024-25
10/01/24 – 12/31/2025

INTRODUCTION
The City of El Cerrito is pleased to submit the Quarter 2 FY 2024-25 General Fund Budget Update, for the period 10/01/24 through 12/31/24. The report provides a high-level overview of the City's status on the budget, with expenditures by department, showing unaudited actuals.

GENERAL FUND REVENUES
FY 2024-25 General Fund revenue is budgeted at $51.4 million. Table 1 shows the year-to-date revenues by classification, and Table 2 shows the year-to-date revenues by department. As of December 31, 2024, tax revenues are at 38% of budget, which is 5% lower than the second quarter of FY24. Property tax and Franchise tax are slightly under when compared to the prior quarter 2 actuals. Real Property Transfer tax (through November) is up over 17% when compared to the prior quarter 2 actuals. Overall General Fund Revenues for Quarter 2 are at 44% of the total FY 2024-25 Adopted Budget, which is in line with the 43% received for Quarter 2 FY 2023-24.

Table 1 reflects real property transfer taxes through November, as December funds (totaling $313,983) were received in January and will be reflected in the FY 2024-25 third quarter update. Adding the December real property transfer tax funds to the Quarter 2 revenue actuals results in year-to-date revenue of $1,456,789 or 49% of the Adopted Budget. Property transfer taxes are trending as expected. Staff will continue to monitor revenue streams closely and will report back to the City Council as necessary.

Table 1
General Fund Revenue – Classification
Quarter 2
Classification Budget Amount YTD – Q2
Actuals
% of
Budget
Prior YTD – Q2
Actuals
Property Taxes $16,461,935 $6,229,490 38% $5,993,855
Sales Taxes 4,517,790 1,490,431 33% 1,400,263
Transient Occupancy Taxes 100,000 32,058 32% 25,353
Measure R Sales Tax 4,459,000 1,393,404 31% 1,366,271
Franchise Taxes 1,380,000 378,026 27% 619,999
Business License Taxes 1,182,817 1,091,059 92% 1,027,522 Property Transfer Taxes 3,000,000 1,142,806 38% 891,844 Utility Users' Taxes 3,694,260 1,405,934 38% 1,374,064
Other Taxes 1,500 - 0% 1,769
Taxes Totals $34,797,302 $13,163,208 38% $12,700,940
Licenses & Permits 1,007,000 847,094 84% 701,895
Fines & Forfeitures 130,000 82,035 63% 98,232
Use of Money and Property 957,000 277,563 29% 344,411
Intergovernmental Revenues 5,334,401 2,748,080 52% 1,800,337 Charges for Services Totals 7,528,702 4,592,047 61% 4,503,760 Other Revenue Totals 630,000 174,578 28% 233,291
Other Financing Sources Totals 1,002,039 501,020 50% 488,591 Totals $51,386,444 $22,385,625 44% $20,871,457
Agenda Packet Page 26 of 206

Table 2
General Fund Revenues – Department
Quarter 2
Revenue Budget Amount YTD – Q2
Actuals
% of
Budget
Prior YTD – Q2
Actuals
Administration $11,500 $10,468 91% $5,988
Community Development 2,517,396 1,712,862 68% 1,790,697 Fire 5,384,101 2,774,088 52% 1,820,520
Non-departmental 37,083,964 13,818,475 37% 13,483,306
Police 186,000 116,013 62% 116,506
Public Works 599,132 241,593 40% 432,146
Recreation 5,604,351 3,712,126 66% 3,222,294
Totals $51,386,444 $22,385,625 44% $20,871,457

GENERAL FUND - EXPENDITURES
General Fund expenditure budgets have been amended to $52.3 million for FY 2024-25. Tables 3 and 4 show the expenditures year-to-date by classification and by department, respectively. Departments are on track for Quarter 2 at 51% of budgeted expenditures. This is slightly below the Quarter 2 FY 2023-24 expenditures at 52%.

The City Council-approved budget amendments through December 31 include $603,425 in purchase orders from FY 2023-24, the SEIU contract settlement of $36,622, and the PEA & PSMA contract settlement of $354,860. These amounts, netted with the original projected surplus of $33,952, create a projected deficit of $960,955.

As in previous fiscal years, Personnel is the largest component of General Fund expenditures (73%).

Departments have continued to fill vacant positions, and we are now trending at 52% of budgeted expenditures. This is slightly higher than Quarter 2 FY 2023-24 at 51%.

The City has previously paid the annual workers compensation premium in two annual installments. This year the City paid the entire $1 million premium at the beginning of the fiscal year which was allocated to departments as of the payment date; this increased expenditures by about $500,000 compared to the prior fiscal year. In Table 3, the actual expenditures reflected in the “Other Purchased Services” classification includes the one-time full fiscal year’s annual insurance premiums which are paid each year in July; in Table 4 expenditures reflected for the Administration Department include the one-time full fiscal year’s annual payments. The City also pre-paid the CalPERS UAL contribution in full for FY 2024-25 at the beginning of the fiscal year. Since the UAL payment is significant in its amount of $6.9 million, the City elected to record this as a pre-paid amount and an allocation is done monthly to show a more accurate representation for budget comparison, as this is how it was presented in previous fiscal years.

Agenda Packet Page 27 of 206

Table 3
General Fund Expenditures – Classification
Quarter 2
Classification Budget Amount
(Amended)
YTD – Q2
Actuals
% of
Budget
Prior YTD – Q2
Actuals
Personnel $38,019,416 $19,738,152 52% 18,003,966
Purchased Professional & Technical Services 5,298,500 2,060,535 39% 2,652,663 Purchased Property Services 2,258,877 957,593 42% 948,360 Other Purchased Services 3,859,771 2,939,699 76% 2,553,970 Supplies 876,170 344,096 39% 328,438
Property & Capital 736,513 103,425 14% 186,128
Financing Costs $539,822 $175,952 33% $300,190
Other Financing Uses 758,329 379,165 50% 291,382
Totals $52,347,399 $26,698,616 51% $25,265,097
Table 4
General Fund Expenditures – Department
Quarter 2
Expenditures Budget Amount
(Amended)
YTD – Q2
Actuals
% of
Budget
Prior YTD – Q12
Actuals
Administration $7,729,678 $4,560,781 59% $4,623,611
Community Development $4,133,728 1,669,001 40% 2,097,631 Fire $15,338,246 8,357,032 54% 7,028,537
Non-departmental $882,691 395,703 45% 445,272
Police $15,052,742 7,283,638 48% 6,751,421
Public Works $2,481,847 1,113,544 45% 1,235,471
Recreation $6,728,467 3,318,918 49% 3,083,154
Total $52,347,399 $26,698,616 51% $25,265,097

GENERAL FUND BALANCE
Fiscal Year 2023-24 has since been finalized, and the projected deficit of $6.3 million has been updated to an actual deficit of $250,147. The updated General Fund balance is $22.89 million at the close of FY 2023-24. The City Council had approved various one-time expenditures for the purchase of buildings/land, deferred maintenance, and other one-time items. The one-time items were completed, but greater than anticipated revenues and the prudent acts of departments to minimize expenditures reduced the projected deficit by over $6 million. Table 5 illustrates the updated projections for the General Fund balance. Taking into consideration the newly updated Comprehensive Financial Policy that updated the minimum General Fund Reserve amount from 10% to 17%, the City will need to have $9.1 million in reserves, leaving just under $2.3 million in discretionary spending for FY 2024-25.

Agenda Packet Page 28 of 206

Table 5
General Fund Fund Balance
Quarter 2
Fund Balance Projection
FY24 General Fund Fund Balance (actual) $ 22,893,338
EDRF (9,000,000)
Section 115 (1,372,890)
Non-Spendable (126,751)
FY24 Unrestricted Fund Balance 12,393,697
FY25 Projected Deficit (960,955)
Projected Total FY25 Fund Balance 21,932,383
EDRF (Internally Restricted) (9,000,000)
Section 115 (Restricted) (1,372,890)
Non-Spendable (126,751)
Projected FY25 Unrestricted Fund Balance 11,432,742
FY26 Expenditure Proposed Budget 53,764,017
FY26 17% Reserve Goal 9,139,883
Projected discretionary for FY25 midyear 2,292,860
FY 25 Projected Ending Total GF FB $ 21,932,383

CONCLUSION
The City of El Cerrito is currently on track to meet our FY 2024-25 budget goals. Revenues are not received in equal quarterly releases, primarily due to the biannual funding cycle (December and April) for property taxes.

Expenditures are on track, with departments spending approximately 51% of their annual budget in Quarter 2.

Staff will be working with departments to bring any necessary adjustments to the Mid-year budget presentation on March 4, 2025.

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El Cerrito, California
Annual Comprehensive Financial Report
as of Fiscal Year Ended June 30, 2024
Agenda Item No. 9.B.

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El Cerrito, California
Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2024
City Council
Tessa Rudnick. . . . . . . . . . . . . . . . . . . . . . . . . . Mayor Carolyn Wysinger . . . . . . . . . . . . . . . . Mayor Pro Tem Paul Fadelli. . . . . . . . . . . . . . . . . . . . .Council Member Gabe Quinto . . . . . . . . . . . . . . . . . . . Council Member Lisa Motoyama. . . . . . . . . . . . . . . . . Council Member Presented by:

Karen Pinkos, City Manager
Crystal Reams, Finance Director/City
Treasurer
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INTRODUCTORY SECTION
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CITY OF EL CERRITO

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

TABLE OF CONTENTS

INTRODUCTORY SECTION
Transmittal Letter .......................................................................................................................... 1 List of Elected and Appointed Officials ........................................................................................... 8 Organizational Chart ...................................................................................................................... 9 GFOA Certificate ......................................................................................................................... 10

FINANCIAL SECTION
Independent Auditor’s Report....................................................................................................... 12 Management’s Discussion and Analysis (Required Supplementary Information) ............................ 16 Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position .................................................................................................. 32 Statement of Activities...................................................................................................... 33 Fund Financial Statements
Governmental Funds:

Balance Sheet .............................................................................................................. 36 Reconciliation of the Government Funds Balance Sheet
to the Government-Wide Financial Statement of Net Position .................................. 37 Statement of Revenues, Expenditures and Changes in Fund Balances............................ 38 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Government-Wide Statement of Activities ........................................................................................... 39 Proprietary Funds:

Statement of Net Position ............................................................................................ 42 Statement of Revenues, Expenses, and Changes in Fund Net Position ........................... 43 Statement of Cash Flows.............................................................................................. 44 Fiduciary Fund Financial Statements:

Statement of Fiduciary Net Position ............................................................................. 46 Statement of Changes in Fiduciary Net Position ........................................................... 47 Notes to the Basic Financial Statements .................................................................................. 50

REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis):

General Fund .................................................................................................................... 84 Low/Mod Income Housing Asset Special Revenue Fund.................................................... 85 Schedule of Pension Contributions................................................................................................ 86 Schedule of Proportionate Share of Net Pension Liability.............................................................. 87 Agenda Packet Page 36 of 206

CITY OF EL CERRITO

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

TABLE OF CONTENTS

SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis):

Street Improvement Fund................................................................................................................................. 90 Capital Improvement Fund .............................................................................................................................. 91 Nonmajor Governmental Funds:

Combining Balance Sheet............................................................................................................... 95 Combining Statement of Revenues, Expenditures and Changes in Fund Balances............................. 99 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual (GAAP Basis):

Gas Tax Fund ............................................................................................................................................. 103 National Pollution Discharge Elimination System Fund............................................................................ 104 Landscape and Lighting Assessment Fund................................................................................................. 105 Measure A Parcel Tax Fund ....................................................................................................................... 106 Measure H Parcel Tax Parks and Recreation Facilities Fund..................................................................... 107 Asset Seizure Fund ..................................................................................................................................... 108 Vehicle Abatement Fund ............................................................................................................................ 109 SB1 - Road Repair and Accountability Fund ............................................................................................. 110 Public Art Fund .......................................................................................................................................... 111 Measure J Paratransit Fund......................................................................................................................... 112 Municipal Services Corporation Special Revenue Fund ............................................................................ 113 City Housing Fund...................................................................................................................................... 114 Federal, State and Local Grants Fund......................................................................................................... 115 Public Financing Authority Fund ............................................................................................................... 116 Measure J Fund........................................................................................................................................... 117 Storm Drain Fund ....................................................................................................................................... 118

STATISTICAL SECTION
Net Position by Component................................................................................................................ 123 Changes in Net Position ..................................................................................................................... 124 Fund Balances of Governmental Funds............................................................................................... 126 Changes in Fund Balances of Governmental Funds ............................................................................. 127 Net Assessed Value of Property ................................................................................................................................... 128 Property Tax Levies and Collections............................................................................................................................ 129 Direct and Overlapping Property Tax Rates................................................................................................................. 130 Principal Property Taxpayers ....................................................................................................................................... 131 Revenue Bond Coverage – Lease Revenue Bonds....................................................................................................... 132 Revenue Bond Coverage – Sales Tax Revenue Bonds................................................................................................. 133 Bonded Debt Pledged Revenue Coverage – Tax Allocation Bonds............................................................................. 134 Ratios of Outstanding Debt by Type ............................................................................................................................ 135 Composition of Legal Bonded Debt Margin ................................................................................................................ 136 Direct and Overlapping Governmental Activities Debt................................................................................................ 137 Demographic and Economic Statistics......................................................................................................................... 138 Principal Employers ..................................................................................................................................................... 139 Government Employees by Function .................................................................................................. 140 Operating Indicators by Function/Program.......................................................................................... 141 Agenda Packet Page 37 of 206

TRANSMITTAL LETTER
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January 16, 2025
Honorable Mayor, Council Members and Residents of El Cerrito:

We are pleased to present the Annual Comprehensive Financial Report (ACFR) of the City of El Cerrito for the fiscal year ended June 30, 2024. This report has been prepared in accordance with generally accepted accounting principles (GAAP) as set forth in the pronouncements of the Governmental Accounting Standards Board (GASB). We are also pleased to report that the City has received an unmodified opinion from the independent auditor, indicating the financial statements are presented, in all material respects, in accordance with the applicable financial reporting framework.

The City's financial policies require an external independent audit be performed annually, and that the auditor's opinions be included in the ACFR. Further, it states that the results be submitted to the City Council.

Responsibility for the accuracy of the data and the fairness of presentation, including all footnotes and disclosures, rests with the City. To the best of our knowledge and belief, the enclosed data are accurate in all material respects and are reported in a manner designed to present fairly the financial position and results of operations of the various funds of the City. All material statements and disclosures necessary for the reader to obtain a thorough understanding of the City's financial activities have been included.

City management is responsible for establishing and maintaining fiscal internal controls designed to safeguard the assets of the government from loss, theft, or misuse, and to ensure that accounting data is accurately compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that the cost of controls should not exceed the benefits likely to be derived, and the valuation of costs and benefits require estimates and judgments by management.

The City's financial statements have been audited by Chavan & Associates, LLC. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Based on the audit, the independent auditor concluded that there was a reasonable basis for rendering an unmodified opinion and that the City of El Cerrito's financial statements for the fiscal year ended June 30, 2024, are fairly presented in conformity with GAAP.

The independent auditor's report is presented as the Financial and Supplementary Sections of this report. GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of the Management Discussion and Analysis.

This Letter of Transmittal is designed to complement the Management Discussion and Analysis (MD&A) and should be read in conjunction.

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CITY PROFILE
The City of El Cerrito was incorporated in 1917 under the general laws of the State of California and became a charter city in 2018. The City is located in Contra Costa County in the San Francisco Bay Area. The City encompasses approximately 3.9 square miles and the current population1 is 25,700. The City has a variety of green spaces for public enjoyment including 32 acres of developed park grounds, over 100 acres of open space in the Hillside Natural Area, and a 2.7 mile multi-use trail known as the Ohlone Greenway. It is a community of highly educated residents, in part due to the proximity to UC Berkeley and the Bay Area high-tech economy. It is known for its temperate climate and breathtaking views of the San Francisco Bay and the Golden Gate Bridge from the hillside areas.

REPORTING ENTITY
The City operates under the Council-Manager form of government. The City Council is comprised of five members elected at-large and serving four-year terms. The terms are staggered in alternating even years. There are no term limits. Annually, the City Council votes to appoint a Mayor and a Mayor Pro Tem from among its members.2
City Council determines the policies of the city government, appoints the City Manager and City Attorney, and has general responsibility for effective administrative actions through the City Manager.

The Council is responsible for, among other things, passing ordinances, adopting the budget, and appointing advisory boards, committees, and commissions. The City Council members also serve as the separate Board of Directors for City of El Cerrito Employees’ Pension Trust Plan, the Municipal Services Corporation, and the El Cerrito Public Financing Authority. The City serves as the reporting body for these entities and is financially accountable, as City staff have operational responsibility for the activities of each entity. These entities are included in the City’s financial statements as part of the reporting entity.

In addition, City Council appoints residents to serve on City Boards, Commissions, and Committees (advisory bodies). Boards and Commissions are directly responsible to the City Council and fill advisory and/or quasi-judicial roles. Commissions are composed of lay residents while members for Boards are selected for their special expertise. Committees sponsored by the City are intended to be working groups and do not fill quasi-judicial roles. The advisory bodies include:

Arts & Culture Commission Environmental Quality Committee Citizens Street Oversight Committee Financial Advisory Board Civil Service Commission Human Relations Commission
Committee on Aging Park & Recreation Commission
Community Safety Committee Planning Commission
Design Review Board Urban Forest Committee
Economic Development Committee

CITY SERVICES
The City is a full-service municipality and provides a full range of services, including police and fire protection, building permits and inspections, parks and recreation facilities and services, planning and environmental services, construction and maintenance of streets, public buildings, and infrastructure, and operation of a state-of-the-art Recycling Center.
1 State of California, Department of Finance, E-1 Population Estimates for Cities. Sacramento, California, May 2024. 2 City of El Cerrito Candidate Instructional Guide: Running for Elective Office, November 2024.

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ECONOMIC CONDITIONS AND OUTLOOK
The information presented in the financial statements is best understood when it is considered from the broader perspective of the specific environment within which the City operates.

In Fiscal Year (FY) 2023-24, City management continued its focus on fiscal sustainability and rebuilding program services and activities impacted by the COVID-19 pandemic and the State’s declaration of a state of emergency on March 5, 2020. The City Council declared a state of emergency that remained in effect during FY 2022-23, ending on December 31, 2022.

Local Economy
The American Rescue Plan Act of 2021 (ARPA) was signed into law on March 11, 2021. The City’s allocated amount was $6.1 million received in two installments, $3 million in August 2021 and $3 million in August 2022. These funds have been allocated to address revenue loss, and community infrastructure improvements.

Property Taxes and Assessments continues to remain steady; the City saw a slight increase over the previous fiscal year of $690,207 ($18.5 million in FY24 vs. $17.8 million in FY23) an increase of 3.7%.

The City received $11.5 million in Sales and Use Tax revenue, which is $653,214 less than the previous fiscal year.

City staff continues to monitor the housing market and the impact the high interest rates are having on home sales. Interest rates went from an all-time low of 2.65% in January of 2021 before surging to 7.79% in October 2023, according to Freddie Mac (based on the average 30-year fixed rate). The increase in interest rates has directly affected the inventory of available properties and the number of home sales creating an impact on the amount of the City’s Real Property Transfer Tax that is collected.

EXECUTIVE FINANCIAL OVERVIEW
This top-level overview is presented as a supplement to the more detailed and comprehensive analysis presented in the MD&A. As such, it serves to highlight key financial performance indicators for our major funds. We encourage readers to review the MD&A for a further analysis of the City's financial condition.

General Fund
The General Fund is the primary operating fund of the City of El Cerrito. General Fund property tax increased slightly while most other revenue categories decreased from the prior year, particularly the City’s real property transfer tax due to current economic conditions and rising interest rates. El Cerrito’s diversified and resilient revenue sources still outperformed budgeted estimates by $3.4 million. In FY 2022-23 the City had a large surplus of over $6.5 million; during FY 2023-24 the City Council approved the use of $6.5 million in fund balance for various one-time expenditures. The approved budget amendments would have resulted in a General Fund projected deficit of $6.3 million. Departments diligent efforts to minimize spending brought total General Fund expenditures under budget by $2.7 million; that, coupled with the $3.4 million in additional revenue reduced the projected deficit of $6.3 million to $250,147. The total General Fund balance is $22.9 million and represents approximately 53% of total General Fund expenditures. The decrease is attributable to the one-time approved fund balance uses. Transfers-in totaled $3,671 from Integrated Waste Management. Offsetting this fund balance Agenda Packet Page 42 of 206
increase, transfers-out comprised of subsidies to other funds to support operations, totaling $3,702,980.

General Fund expenditures totaled $48.6 million in FY 2023-24, an increase of approximately $5.1 million over the prior fiscal year. The increase was largely due to the $6.5 million in one-time expenditures approved by City Council that were proposed to reduce fund balance.

MAJOR INITIATIVES AND ACCOMPLISHMENTS
 Completed community engagement and planning process that culminated in the adoption of the El Cerrito Strategic Plan 2024-2029.
 Enhanced City's public information program, including on social media and by bringing back print Citywide newsletters, to increase engagement and improve transparency.  Completed robust community engagement process and returned to preparing a biennial budget for FY 2024-25 & FY 2025-26.
 Began process for voter consideration of an extension of the City’s 1% Transactions and Use Tax in order to maintain existing service levels.
 Processed 344 Public Records Requests.
 Successfully completed a multi-year city-wide Classification and Compensation Study.  Implemented Artificial Intelligence powered security system and upgraded firewall to protect and enhance the security resiliency of the City's network and computers.  Completed the City’s 6th Cycle General Plan Housing Element which was certified by the State Department of Housing and Community Development and initiated development of General Plan Safety Element.
 Established Emergency Disaster Relief Fund and Section 115 Pension Funding Trust.  Joined the Eastbay Hills Wildfire Coalition of Governments and hosted the first meeting.  Deployed a Police Department Community Liaison Officer to increase communication with the public and provide support for investigations.
 Installed forty (40) license plate reading cameras in El Cerrito to assist with the investigation of criminal incidents.
 Began construction, including a Groundbreaking Ceremony, for the Del Norte Transit-Oriented Development Complete Streets Improvement Project, installed new EV Charging Stations at City Hall, and substantially completed construction of the Arlington Park Improvements, and Hillside Natural Area Trails Signage projects.
 Developed a Red Flag Parking Pilot Program for implementation from June through November.  Began design efforts for Richmond Street Complete Streets Project and launched development of the Local Road Safety Plan including public outreach and analysis.  Procured and contracted for Renewable Diesel for all City diesel fleet vehicles including curbside recycling and fire trucks and secured Technical Assistance Grant for Public Fleet Electrification Planning.
 Completed a citywide recycling and garbage cart swap to comply with State Senate Bill 1383 and to improve sorting of solid waste materials.
 Developed the City’s Climate Action & Adaption Plan to provide a roadmap to reduce the Agenda Packet Page 43 of 206
City’s greenhouse gas emissions and better prepare for climate change impacts.  Began development of the Hillside Natural Area Fire Resilience and Forest Conservation Management Plan to establish a comprehensive fire hazard reduction and vegetation management plan to guide the City’s fire fuel reduction, native forest conservation, and maintenance activities.
 Completed the Potential Outsourcing of the City’s Municipal Curbside Recycling Operations Study consistent with the City's Fiscal Response Plan and Fiscal Recovery and Sustainability Plan.
 Experienced significant increases in Recreation Activity Enrollments and Facility Reservations, including a 460% increase for senior specific activities in 2023, 31% for general classes for all ages, 11% in summer camps, 216% in room reservations, and 66% in clubhouse reservations.  Hosted a Senior Resource Fair with over 200 seniors in attendance and 46 vendors.  Continued work on development of Affordable Housing and the BART El Cerrito Plaza TransitOriented Development (TOD) project.  Continued implementation of the Fiscal Sustainability Plan including controlling and reducing expenditures and ensuring achievable revenue projections aligned with the City’s Comprehensive Financial Policies.

FINANCIAL INFORMATION
Budgeting Controls
The City of El Cerrito operates on a biennial budget schedule and maintains budgetary controls to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the City Council. Activities of the General Fund, Special Revenue Funds, Capital Projects Funds, Debt Service Funds, and Propriety Funds are included in the biennial appropriated budget. The level of budgetary control (level at which expenditures cannot legally exceed the appropriate amount) is at the fund level.

City Departments use the goals outlined in the Strategic Plan, as well as feedback gained from the community, to inform the development of their departmental budgets for the next fiscal year. In order to best determine the resources to allocate to the goals and strategies in the Strategic Plan, the departments review information tailored toward aligning programs and services to the Strategic Plan goals.

Each department evaluated their programs and services and analyzed related data to determine a baseline amount of resources to allocate to expenses that meet the goals of the Strategic Plan. The departments considered several data sets, including personnel necessary to provide the program or service, additional costs (i.e., consultants, contractors, supplies and equipment and other purchased services), and whether the program or service is required by law or City policy. Departments were realistic about the objectives that could be achieved in the fiscal year and set priorities to allocate resources accordingly.

The Finance Department, in coordination with the applicable operating departments, provides the City Manager with proposed revenue projections. These revenue estimates are reviewed with the department budget requests to determine available funding levels for the fiscal year. Supplemental budget requests (new personnel, services or equipment) are subject to City Manager review and approval for inclusion in the proposed operating budget. This process applies to all governmental and enterprise funds. The City Manager and Finance Director meet with the departments to review all operating expenditures and Agenda Packet Page 44 of 206
budget change requests. After final review and approval by the City Manager, the proposed budget document is presented to the City Council in May. The budget is adopted by resolution prior to June 30.

Only the City Council has the authority to create or modify total appropriations of any fund subject to only the appropriations limits established by State law. The City Council approves various supplemental appropriations during the year as necessary to meet the City’s needs. The statements and schedules included in the financial section of this report indicate that the City continued to meet its responsibility for sound financial management.

Accounting System
The City’s accounting and budgeting records for general government operations are recorded on a modified accrual basis, with revenues being recognized when available and measurable, and expenditures being recorded when the service or goods are received, or liabilities are incurred.

Accounting and budgeting for the City’s proprietary funds are maintained on an accrual basis.

Non-exchange transactions in which the City gives or receives value without directly receiving or giving equal value in exchange include taxes, grants, entitlements, and donations. On an accrual basis, revenue from taxes is recognized in the fiscal year for which the taxes are levied or assessed.

Revenue from grants, entitlements, and donations are recognized in the fiscal year in which all eligibility requirements have been met.

The City maintains an internal control designed to provide reasonable assurance that the City’s assets are protected from loss, theft, or misuse. Also, internal controls ensure adequate accounting data is compiled to allow for the preparation of financial statements in conformity with GAAP. The internal control structure is designed to provide reasonable, but not absolute assurance that these objectives are met. The concept of reasonable assurance recognizes that (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management.

Financial Policies
In August 2023, City Council approved amendments to the City Comprehensive Financial Policy, dated September, 2022. The financial policies are designed to promote sound financial management and ensure that the City's fiscal integrity remains intact as staff and Council Members change.

The City Comprehensive Financial Policy is reviewed by the Financial Advisory Board and recommended amendments are advanced through the City Manager and Finance Director to City Council for adoption.

Additionally, the City Comprehensive Financial Policy, in accordance with GASB pronouncements, includes a General Fund Reserve policy, Emergency and Disaster Recovery Fund policy, Long-Term Financial Planning and Budget policies, Debt policies and other operational policies to serve as guidelines for operational and strategic decision making related to financial matters.

OTHER INFORMATION
Independent Audit
The City of El Cerrito selects an independent certified public accounting firm to perform a required annual audit of the City’s financial records and transactions. The annual audit is required through covenants related to the City’s bonded indebtedness. The City has a contract with Chavan & Associates, LLC., an independent auditor, to perform the audit and prepare the financial section of this report.

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Acknowledgments
The preparation of this Annual Comprehensive Financial Report was conducted through the efforts and teamwork of the dedicated Finance staff. Appreciation and acknowledgement are also extended to City Department representatives for their support and collaboration throughout the duration of the audit. In addition, we extend a special thank you to Chavan & Associates, LLP for their professionalism and diligence in assisting in the preparation of this financial report.

Karen Pinkos, City Manager Crystal Reams, Finance Director & City Treasurer
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CITY OF EL CERRITO

ELECTED OFFICIALS
AND

ADMINISTRATIVE PERSONNEL
as of June 30, 2024

ELECTED OFFICIALS - CITY COUNCIL
Mayor
Mayor Pro Tem
Council Member
Council Member
Council Member
Tessa Rudnick
Carolyn Wysinger
Paul Fadelli
Gabe Qunito
Lisa Motoyama

ADMINISTRATIVE PERSONNAL - CITY STAFF
City Manager
Assistant City Manager
Chief of Police
Fire Chief
Community Development Director
Finance Director/City Treasurer
Public Works Director/City Engineer
Recreation Director
City Clerk
Karen Pinkos
Alexandra Orologas
Paul Keith
Eric Saylors
Melanie Mintz
Crystal Reams
Yvetteh Ortiz
Chris Jones
Holly Charlety

CITY ATTORNEY
Sky Woodruff

INDEPENDENT AUDITORS
Chavan & Associates, LLP Certified Public Accountants
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ORGANIZATIONAL OVERVIEW
Chart 1-1 provides a graphical overview of the structure of City Government:

Overall Position Listing
Table 1-1 shows the adopted Citywide position listing for permanent full-time positions. The listing reflects the implementation of the Fiscal Response Plan, layoffs, and eliminated vacant positions through FY 2021-22. For FY 2022-23, the listing reflects positions added at midyear of FY 2021-22 and adopted positions for FY 2022-23. The listing does not include hourly or non-permanent part-time positions.

Table 1-1
Citywide Position Listing
Department FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 City Council 5 5 5 5 5
City Management 11.5 11.5 10 9 10
Finance Department 6 6 6 6 6
Community Development 14 14 15 14 15
Police Department 58 58 55 48 48
Fire Department 37 37 37 37 37
Public Works Department 25.2 25.2 25 24.2 25.2
Recreation Department 23 23 21 18 19
Total 179.7 179.7 174 161.2 165.2
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of El Cerrito
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2023
Executive Director/CEO
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FINANCIAL SECTION
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16450 Monterey Road, Suite #5, Morgan Hill, CA 95037
Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and Members of the City Council
of the City of El Cerrito
El Cerrito, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of the City of El Cerrito (the “City"), as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise City’s basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of the City of El Cerrito, as of June 30, 2024, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

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

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

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher Agenda Packet Page 51 of 206

16450 Monterey Road, Suite #5, Morgan Hill, CA 95037
Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and GAGAS, we:
 Exercise professional judgment and maintain professional skepticism throughout the audit.  Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.  Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.  Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the 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 United States of America require that the management’s discussion and other required supplementary information, as listed in the table of contents, be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual fund financial statements, schedules, and other information listed in the supplementary information section of the table of contents are presented for purposes of additional analysis and are not a required part of the basic financial statements.

Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain Agenda Packet Page 52 of 206

16450 Monterey Road, Suite #5, Morgan Hill, CA 95037
Tel: 408-217-8749 • E-Fax: 408-872-4159
[email protected] • www.cnallp.com
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 GAAS. In our opinion, the combining and individual fund financial statements and schedules 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 introductory and statistical sections but does not include the basic financial statements and our auditor’s report thereon. Our opinions on the basic 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 basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated January 16, 2025 on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

Chavan & Associates, LLP
Certified Public Accountants
January 16, 2025
Morgan Hill, California
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MANAGEMENT’S DISCUSSION

AND ANALYSIS
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City of El Cerrito Management’s Discussion and Analysis

INTRODUCTION
As management of the City of El Cerrito, we offer readers of the City’s financial statements this narrative overview and analysis of financial activities of the City of El Cerrito, for the fiscal year that ended on June 30, 2024. We encourage readers to consider the information presented here, in conjunction with additional information that we have furnished in our letter of transmittal. This information can be found on pages 1-7 of this report. The required components of the report are listed below.

Required Components of the Annual Financial Report
FISCAL YEAR 2023/24 FINANCIAL HIGHLIGHTS
Government-Wide Highlights
 The assets and deferred outflows of resources for the City of El Cerrito exceeded its liabilities and deferred inflows of resources at the close of the most recent fiscal year by $51.18 million (net position). Of the net position, $60.30 million was classified as net investment in capital assets; $21.67 million recorded as restricted funds; and $30.79 million categorized as a deficit unrestricted net position (negative net position). The negative unrestricted net position is largely due to GASB 68 – Accounting and Financial Reporting for Pensions. This pronouncement requires local governments to record pension liabilities and related deferrals in the government-wide financial statements.  The City’s net position increased by $6.67 million. This included a $7.91 million increase in the net position of Governmental Activities and a $1.24 million decrease in the net position of Business-Type Activities.
 City revenues increased by $5.06 million, or 8%, when compared to the prior year. The Fiscal Year 23/24 amounts included $4.84 million in grants for capital projects and $1.55 million in operating grants.

Management’s
Discussion & Analysis
Government-Wide
Financial Statements
Fund
Financial Statements
Notes to the
Financial Statements
Basic
Financial Statements
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City of El Cerrito Management’s Discussion and Analysis • Deferred outflows of resources increased by $1.46 million, while deferred inflows of resources increased by $163,347. This was primarily related to pension liability adjustments identified in the City’s actuarial report, which include differences between expected and actual earnings; expected and actual experiences; and changes in proportional allocations. The City’s pension liability in accordance with GASB 68 as of June 30, 2024 was $84.24 million as compared to $79.53 million in the prior year. • The City’s long-term debt decreased by $1.46 million as a result of scheduled debt service payments made during the year.
• The City’s net capital assets increased by $1.90 million, primarily from a $1.91 million increase to construction in progress and a $2.00 million increase to infrastructure, offset by an increase of $3.41 million to accumulated depreciation and amortization.

Fund Highlights
 At the close of Fiscal Year 23/24 the City of El Cerrito’s Governmental Funds reported a combined fund balance of $41.69 million, which is an increase of $2.46 from prior year. Approximately 51%, or $21.39, million was classified as unassigned fund balance and was available for spending at the government’s discretion.
 At the end of the current fiscal year, the General Fund’s unrestricted fund balance (the total of the committed, assigned, and unassigned components of fund balance) was $21.39 million, or 55% of total general fund expenditures, prior to transfers.
 The fund balance in the General Fund decreased by $249,743 at the close of the fiscal year. This included an excess of operating revenues over expenditures of $3.45 million, minus $250,147 in net transfers and other financing sources and an adjustment to beginning fund balance of $404.

OVERVIEW OF THE FINANCIAL STATEMENTS
The discussion and analysis are intended to serve as an introduction to the City of El Cerrito’s financial statements. The City of El Cerrito’s basic financial statements are comprised of (1) Government-Wide Financial Statements (2) Fund Financial Statements, and (3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-Wide Financial Statements
The Government-Wide Financial Statements are designed to provide readers with a broad overview of the City of El Cerrito’s finances, in a manner similar to a private-sector business. Government-Wide financial statements are prepared on the accrual basis, which means they measure the flow of all economic resources of the City as a whole. Government-Wide Financial Statements consist of the Statement of Net Position and the Statement of Activities.

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

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City of El Cerrito Management’s Discussion and Analysis The Statement of Activities presents information showing how the City of El Cerrito’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. This is consistent with a full accrual concept, which may result in the reporting of revenues and expenses in the current fiscal year, with cash flows occurring in future fiscal periods (e.g. uncollected revenues; and earned but not used vacation leave).

Both of the Government-Wide Financial Statements distinguish functions of the City of El Cerrito that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). An overview of the City’s functions associated with each classification is listed below.

Governmental Activities – All of the City's basic services are considered to be governmental activities. This includes general government, public works, recreation, community development, and public safety. These services are supported by general City revenues such as taxes, and by specific program revenues such as development and recreation program fees.

Business-Type Activities – This City’s enterprise activities include integrated waste management. Unlike governmental activities, these services are fully supported by charges paid by users based on the amount of services they use.

The Government-Wide Financial Statements can be found on pages 32-33 of this report.

Fund Financial Statements
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.

Fund financial statements provide detailed information about each of the City's most significant funds, called major funds. Major funds are presented individually, with all non-major funds summarized and presented only in a single column. Subordinate schedules present the detail of these non-major funds. Major funds present the major activities of the City for the fiscal year and may change from year to year as a result of changes in the pattern of the City's activities. The City's funds are segregated into three categories:

Governmental Funds, Proprietary Funds, and Fiduciary Funds.

Governmental Funds
Governmental funds are used to account for essentially the same function reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental funds focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. This represents a modified accrual basis of accounting, with capital assets, long-lived assets, and long-term liabilities excluded from the financial statements. Such information may be useful in evaluating the City's near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for the 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 Agenda Packet Page 57 of 206
City of El Cerrito Management’s Discussion and Analysis governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate the comparison between governmental funds and governmental activities.

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 General Fund and other major funds. Data from the other governmental funds are combined into a single aggregated presentation.

Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements in the combining and individual fund statements and schedules section of this report.

The City of El Cerrito adopts an annual budget for its General Fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance with this budget. The basic governmental fund financial statements can be found on pages 36-39 of this report.

Proprietary Funds
The City of El Cerrito has one Enterprise Fund which is a proprietary fund: Integrated Waste Management.

Enterprise funds provide the same type of information as business-type activities in the government-wide statements. Internal service funds are an accounting mechanism used to accumulate and allocate costs internally among the City of El Cerrito’s various functions. The City uses one internal service fund to account for the management of its vehicle and equipment replacement. Because these internal services predominately benefit governmental rather than business-type functions, they have been included within governmental activities in the Government-Wide Financial Statements.

Proprietary funds provide the same type of information as the Government-Wide Financial Statements, only in more detail. The proprietary fund financial statements provide separate information for the waste management operations, which is considered major fund for the City of El Cerrito. The basic proprietary fund financial statements can be found on pages 42-44 of this report.

Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the City. Fiduciary funds are not reported in the Government-Wide Financial Statements because the resources of these funds are not available to support the City of El Cerrito’s own programs. The accounting for fiduciary funds is much like that used for business-type activities. The City had two fiduciary funds during Fiscal Year, the Pension Trust Fund and the El Cerrito Redevelopment Agency Successor Agency Private-Purpose Trust Fund.

NOTES TO THE FINANCIAL STATEMENTS
Notes to the Financial Statements provide additional information that is essential to a full understanding of the data provided in the Government-Wide and Fund Financial Statements. The notes can be found immediately following the Fund Financial Statements.

OTHER INFORMATION
In addition to the basic financial statements and accompanying notes, this report also presents required supplementary information concerning the City of El Cerrito’s funding progress for its employee pension obligations. The required supplementary information can be found on pages 84-87 of this report.

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City of El Cerrito Management’s Discussion and Analysis The combining statements referred to earlier in connection with nonmajor governmental funds are presented immediately following the required supplementary information. Combining and individual fund statements and schedules can be found on pages 90-118 of this report.

A statistical section provides historical and current data on financial trends, revenue and debt capacity, demographic and economic information, and operating information. This information can be found on pages 123-141 of this document.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
Over time, net position may serve as an indicator of a government’s financial position. In the case of the City of El Cerrito, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $51.18 million at the close of Fiscal Year 23/24. This represents an increase of $6.67 million over the prior year.

The following table summarizes the City’s ending net position:

A significant portion, or $60.30 million, of the City's net position reflects its investment in capital assets, (e.g., land, buildings, general government infrastructure, equipment, etc.), less accumulated depreciation/amortization and any outstanding debt that was used to acquire or construct those assets.

Capital assets represent infrastructure which provide services to citizens and are not available for future spending. Although the City‘s investment in capital assets is reported net of related debt, it should be noted that the resources to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate the liabilities.

The $21.67 million amount classified as Restricted Net Position represents resources that are subject to external restrictions on how they may be used. These funds are restricted for governmental activities.

The remaining deficit balance of $30.79 million is classified as unrestricted. This negative unrestricted balance is largely due to GASB 68 – Accounting and Financial Reporting for Pensions. The City participates in the CalPERS Miscellaneous and Safety pension plans. This pronouncement requires that local governments report 2024 2023 2024 2023 2024 2023
Assets
Current and other assets $ 53,902,573 $ 50,109,108 $ 3,298,270 $ 2,607,396 $ 57,200,843 $ 52,716,504 Capital assets 69,435,665 67,351,870 3,346,955 3,526,447 72,782,620 70,878,317 Total Assets $ 123,338,238 $ 117,460,978 $ 6,645,225 $ 6,133,843 $ 129,983,463 $ 123,594,821 Deferred Outflows of Resources $ 32,454,029 $ 33,185,249 $ 1,463,287 $ 33,917,316 - $ $ 33,185,249 Liabilities
Current and other liabilities $ 9,889,542 $ 10,410,732 $ 615,171 $ 611,886 $ 10,504,713 $ 11,022,618 Noncurrent liabilities 94,511,038 94,691,574 3,942,391 894,614 98,453,429 95,586,188 Total Liabilities $ 104,400,580 $ 105,102,306 $ 4,557,562 $ 1,506,500 $ 108,958,142 $ 106,608,806 Deferred Inflows of Resources $ 3,599,218 $ 5,658,874 $ 163,347 $ - $ 3,762,565 $ 5,658,874 Net Position
Net investment in capital assets $ 56,361,576 $ 53,389,633 $ 3,937,059 $ 2,199,706 $ 60,298,635 $ 55,589,339 Restricted 21,667,676 17,767,175 - 21,667,676 - 17,767,175 Unrestricted (30,236,783) (31,271,761) (549,456) 2,427,637 (30,786,239) (28,844,124) Total Net Position $ 47,792,469 $ 39,885,047 $ 3,387,603 $ 4,627,343 $ 51,180,072 $ 44,512,390 Table 1 - Net Position
Governmental Activities Business-Type Activities Total
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City of El Cerrito Management’s Discussion and Analysis a proportional share of their pension plan’s net pension liabilities on financial statements. In Fiscal Year 23/24, the City’s proportionate share of the CalPERS pension liability was $84.24 million.

At the end of the current fiscal year, the City of El Cerrito reported a positive balance for the government as a whole.

Governmental and Business-Type Activities
As shown in the Statement of Changes in Net Position schedule, the net position for Governmental Activities increased by $7.91 million in the prior year mostly because of increases to expenses by function for all departments and programs, including public safety, as shown below. In the prior fiscal year, the City’s expenses in the statement of activities were reduced by a pension credit of $15.45 million related to changes in assumptions and deferrals of differences between estimated and actual plan earnings.

During Fiscal Year 23/24, the City recognized to an increase to pension expense of $2.03 million, an increase of $17.48 million.

The net position for business-type activities decreased by $1.24 million largely due to the change in application of GASB 68 when the City reallocated a portion of its net pension liabilities. An analysis of the changes in revenues and expenses by type of significant events follows:

Increase Increase
Functions/Programs 2024 2023 (Decrease) 2024 2023 (Decrease) Program Revenues
Charges for services $ 13,769,470 $ 12,635,957 $ 1,133,513 $ 4,182,443 $ 3,920,346 $ 262,097 Operating grants and contributions 1,550,711 1,437,171 113,540 33,907 32,471 1,436 Capital grants and contributions 4,841,678 1,709,112 3,132,566 - - - Total Program Revenues 20,161,859 15,782,240 4,379,619 4,216,350 3,952,817 263,533 General Revenues
Taxes 40,984,093 41,670,459 (686,366) - - -
Other revenues 2,920,338 1,887,516 1,032,822 116,999 43,203 73,796 Total General Revenues 43,904,431 43,557,975 346,456 116,999 43,203 73,796 Expenses
General government 8,271,822 4,892,654 3,379,168 - - -
Public works 9,122,950 6,244,845 2,878,105 - - -
Recreation 6,999,666 3,896,266 3,103,400 - - -
Community development 4,530,222 2,376,676 2,153,546 - - - Public safety 29,383,735 16,455,373 12,928,362 - - -
Interest on long-term debt 166,298 630,504 (464,206) - - - Intergrated waste management - - 3,412,017 - 3,243,285 168,732 Total Expenses 58,474,693 34,496,318 23,978,375 3,412,017 3,243,285 168,732 Transfers 3,671 3,671 - (3,671) (3,671) -
Increase / (Decrease) in Net Position 5,595,268 24,847,568 (19,252,300) 917,661 749,064 168,597 Prior Period Adjustments 2,312,154 (551,043) 2,863,197 (2,157,401) (2,157,401) - Net Position, Beginning of Year 39,885,047 15,588,522 24,296,525 4,627,343 3,878,279 749,064 Net Position, End of Year $ 47,792,469 $ 39,885,047 $ 7,907,422 $ 3,387,603 $ 4,627,343 $ (1,239,740) Table 2 - Statement of Changes in Net Position
Governmental Activities Business-Type Activities
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City of El Cerrito Management’s Discussion and Analysis Governmental Activities
Governmental Revenues
The following chart summarizes the changes in revenues by category during Fiscal Year 23/24:

Significant changes in governmental revenues consisted of the following:
• Taxes decreased by $686,366, with substantial net changes in the following categories:
o Property taxes increased by $690,207 or 3.7%, which reflects the continuing strength in property values.
o Franchise taxes increased by $250,720 or 13.5%, primarily due to rate increases across the industries.
o Other taxes and assessments increased by $98,742 or 12.3%. o Sales and use taxes decreased by $653,214 or 5.7%, reflecting a statewide trend of decreased consumer spending.
o Real property county transfer taxes decreased by $1.0 million or 32.9%. • Other revenues increased by $1.03 million, mostly from local reimbursements and local donations that did not meet the definition of a charges for services, operating grants or capital grants.

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City of El Cerrito Management’s Discussion and Analysis  Charges for services increased by $1.13 million mostly from increased program activities for recreation, community development and public safety as services continue to increase to prepandemic levels.  Capital grants and contributions increased by $3.13 million due to contributions from the General Fund for the purchase of land and buildings at 10936 San Pablo Avenue totaling $1.6 million and $1.1 million for park & facility deferred maintenance and repair projects.

Governmental Expenses
The Fiscal Year 23/24 expenses for Governmental Activities increased by $23.98 million as illustrated in the chart below:

Significant changes in governmental expenses consisted of the following:
 The largest contributed factor to the increase in governmental activities expenses is an adjustment to pension expense as required by GASB 68 of $2.02 million, which was $17.48 million more than the prior year’s pension credit. In fiscal year 22/23, investment returns fell below estimated returns during the plan measurement period, attributing to the decrease in the pension plan expense.  Interest expense decreased by $464,206 due to obligations generally requiring less interest as debt matures and adjustments related to premiums.

Business-Type Activities
The City’s net position for business type activities decreased by $1.24 million for the Integrated Waste Management enterprise fund. The decrease can be attributed the change in application of GASB 68 when the City reallocated a portion of its net pension liabilities to the enterprise fund.

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City of El Cerrito Management’s Discussion and Analysis The following chart is a summary of the changes in revenues and expenses for the City’s business-type activities from Fiscal Year 22/23 to 23/24:

Charges for services included fees of $4.07 million and recycling sales of $115,413. Expenses included personnel services, services, supplies and depreciation totaling $3.38 million. Personnel costs increased by $264,089 increased operating activities over the prior year.

FINANCIAL ANALYSIS OF THE CITY’S GOVERNMENTAL FUNDS
As noted earlier, the City of El Cerrito uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City’s financing requirements.

In particular, the unassigned fund balance may serve as a useful measure of a government’s net resources available for discretionary use as they represent the portion of fund balance which has not yet been limited to use for a particular purpose by either an external party, the City itself, or a group or individual that has been delegated authority to assign resources for particular purposes by the City of El Cerrito’s City Council.

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City of El Cerrito Management’s Discussion and Analysis A summary of the changes in fund balance of the Major Funds and Other Governmental Funds is presented below:

The fund balance in the General Fund decreased by $249,743. This included operating revenues exceeding operating expenses by $3.45 million. The operating difference can be attributed to better than anticipated tax revenues, licenses and permits, and charges for services along with decreased expenditures due to a variety of factors, including staff vacancies and the delivery or completion of items to be purchased or projects to be completed.

Fund balance in Low and Moderate Income Housing Asset Fund increased by $21,688 due to the timing of disbursements.

The fund balance in the Street Improvement Fund increased by $1.075 million mainly due to the timing of when active projects expend funds, and when work is performed.

The fund balance in the Capital Improvement Fund increased by $417,203 mainly from the increased work on capital improvement projects.

The fund balance in Nonmajor Funds increased by $1.19 million mostly due to on-going capital improvement programs, debt service payments, road maintenance and other special revenue fund programs.

Low/Mod Street Capital Nonamajor
General Income Housing Improvement Improvement Governmental Fund Asset Fund Fund Fund Funds Total
Total Revenues $ 39,928 52,119,903 $ 2,347,173 $ 1,297,691 $ 5,865,724 $ $ 61,670,419 Total Expenditures 48,670,741 18,240 564,599 4,001,919 5,879,461 59,134,960 Revenues Over (Under) Expenditures 3,449,162 21,688 1,782,574 (2,704,228) (13,737) 2,535,459 Other financing sources - - - - - -
Transfers in 3,671 - 3,121,431 - 1,302,693 4,427,795
Transfers out (3,702,980) - (707,100) - (94,000) (4,504,080) Net change in fund balances (250,147) 21,688 1,075,474 417,203 1,194,956 2,459,174 Beginning of year 23,143,081 5,260,264 2,793,188 (312,572) 8,338,707 39,222,668 Prior Period Adjustment 404 - - - - 404
End of year $ 5,281,952 22,893,338 $ 3,868,662 $ 104,631 $ 9,533,663 $ 41,682,246 $ Major Funds
Table 3 - Summary of Changes in Fund Balance - Governmental Funds Agenda Packet Page 64 of 206
City of El Cerrito Management’s Discussion and Analysis General Fund – Components of Fund Balance
In Fiscal Year 23/24, the General Fund’s total fund balance represented approximately 47% of total general fund expenditures. The following chart summarizes the ending fund balance in the General Fund over the last two fiscal years:

Other Governmental Fund - Components of Fund Balance
The following chart summarizes the ending fund balance of all other funds other than the General Fund over the last two fiscal years:

CAPITAL ASSETS
The City of El Cerrito’s investment in capital assets for its governmental and business-type activities as of June 30, 2024 amounts to $72.78 million (net of accumulated depreciation). The total increase in the City’s capital assets, net of depreciation, was $1.90 million or 2.69%. In Governmental Activities, the net increase in capital assets was $2.08 million, or 3.09%, while business-type Activities net capital assets decreased by $179,492 or 5.09%.

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City of El Cerrito Management’s Discussion and Analysis The following table summarizes the City’s capital assets at the end of the year:

Additional information on capital assets can be found in Note 5 in the notes to financial statements.

DEBT ADMINISTRATION
During the year, long-term debt from governmental activities decreased by $1.46 million and long-term debt attributable to business type activities decreased by $453,558, mostly from scheduled debt service payments.

The following table summarizes the City’s debt at the end of the year:

Additional information on debt can be found in Note 6 in the notes to financial statements.

GENERAL FUND BUDGETARY HIGHLIGHTS
Changes from the City's General Fund original budget to the final budget are detailed in the Required Supplementary Information section along with a comparison to actual activity for the year ended.

Over the course of the year, the City may revise the expenditure budgets to reflect the changes in the various programs and unanticipated activities, but usually do not change budget assumptions in revenues other than for one-time events. For example, when the City is awards a grant, it appropriates the revenues and expenditures necessary to spend those funds but does not necessarily adjust upward the property 2024 2023 2024 2023 2024 2023 % Change
Land $ 5,191,639 6,792,165 $ - $ - $ 6,792,165 $ 5,191,639 $ 30.83% Construction in progress 4,334,851 6,249,008 - - 6,249,008 4,334,851 44.16% Buildings and improvement 27,463,510 27,058,747 3,495,683 3,495,683 30,554,430 30,959,193 -1.31% Machinery and equipment 6,404,496 6,609,698 2,145,995 2,145,995 8,755,693 8,550,491 2.40% Infrastructure 88,122,931 90,120,903 - - 90,120,903 88,122,931 2.27% Accumulated deprec./amort. (64,165,557) (67,394,856) (2,294,723) (2,115,231) (69,689,579) (66,280,788) 103.40% Total Capital Assets, Net $ 67,351,870 69,435,665 $ 3,346,955 $ 3,526,447 $ 72,782,620 $ 70,878,317 $ 2.69% Table 4 - Capital Assets at Year End - Net
Governmental Activities Total Business-type Activities
2024 2023 % Change
Revenue bonds and notes $ 12,590,248 $ 13,745,837 -8.41% Financed purchases 1,474,237 1,781,148 -17.23%
Total outstanding long-term debt $ 14,064,485 $ 15,526,985 -9.42% 2024 2023 % Change
Revenue bonds and notes $ 450,200 $ 741,400 -39.28%
Financed purchases 422,983 585,341 -27.74%
Total outstanding long-term debt $ 873,183 $ 1,326,741 -34.19% Table 5 - Outstanding Long-Term Debt at Year End
Governmental Activities
Business-type Activities
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City of El Cerrito Management’s Discussion and Analysis tax estimates when the amounts come in higher than expected or reduce other balances that report declines unless the changes are material. Tax estimates are based on trend information where the base amount rolls forward for cumulative increases in long term planning and the trends are reevaluated each year during the budget period.

At the time of the FY 23/24 budget adoption, City revenues were projected to be $48.52 million and expenditures were projected to be $47.85 million. The final budgeted revenues were $48.68 million and expenditures were $51.37 million. Actual revenues exceed the final budget by $3.44 million and actual expenditures were less than the final budget by $2.70 million.

After transfers, the original adopted budget projected a surplus change in fund balance of $93,178 and the final budget projected a deficit of $6.31 million. The actual change in fund balance for the year was a deficit $250,147, which was $6.06 million less than the final budgeted deficit.

The following table summarizes the City’s budget vs. actual amounts for FY 23/24:

Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Taxes and assessments 33,892,830 $ 32,892,830 $ 35,847,684 $ 2,954,854 $ Licenses and permits 1,054,618 1,284,618 1,272,849 (11,769) Fines and forfeitures 120,000 145,000 231,231 86,231
Intergovernmental 5,103,092 5,103,092 5,234,450 131,358 Use of money and property 277,242 278,742 667,457 388,715 Charges for Services 7,807,310 8,663,262 8,594,094 (69,168) Other Revenue 270,000 311,748 272,138 (39,610)
Total Revenues 48,679,292 48,525,092 52,119,903 3,440,611

EXPENDITURES
Current:

General government 7,245,870 8,069,637 7,587,389 482,248 Public works 2,460,423 2,827,046 2,615,288 211,758
Recreation 6,005,416 6,524,937 6,120,140 404,797
Community development 3,799,601 4,892,425 4,267,261 625,164 Public Safety 27,956,083 28,537,232 27,693,105 844,127
Capital outlay 99,503 232,720 156,776 75,944
Debt service
Principal retirement 131,766 131,766 205,276 (73,510)
Interest and fiscal charges 154,160 154,160 25,506 128,654 Total Expenditures 51,369,923 47,852,822 48,670,741 2,699,182 Excess (Deficiency) of Revenues over Expenditures 672,270 (2,690,631) 3,449,162 6,139,793 Agenda Packet Page 67 of 206
City of El Cerrito Management’s Discussion and Analysis ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES
The City’s diversified and resilient revenue base remained strong and exceeded projections. At fiscal year ending June 30, 2024, operating revenues exceeded budget, primarily due to better than budgeted tax revenues, licenses and permits, and charges for services and operating expenditures below budget due to vacancies and timing of expenditure disbursements. During the fiscal year, the City Council voted to utilize unassigned fund balance for major urgent capital needs, resulting in a planned budget deficit of over $6 million. Due to the higher than budgeted revenues and lower than budgeted expenditures, the year-end change in fund balance was $0.25 million, even with the additional capital projects. The General Fund balance decreased by $249,743 from the prior year, leaving a total General Fund balance of $22.89 million. This General Fund balance represents approximately 47% of total General Fund expenditures.

Despite the City’s positive economic position, management remains cognizant of the economic trends facing the State of California. While healthy stock market gains contributed to a modest budgetary surplus, the proposed state budget provides insufficient funding to cover the costs for state mandates impacting local governments. The state is also facing persistent challenges from the high cost of living, a housing shortage exacerbated by climate disasters and volatile property markets, and a homelessness and mental health crisis.

In addition, City management is mindful of the uncertainty facing the U.S. including a complex political environment, persistent inflation, impacts from major natural disasters, slow real estate markets, interest rate changes, the threat of an international trade war and tariffs, and an economy that is showing overall signs of slowing down including a decrease in consumer demand and spending.

Also, the City’s employee costs continue to trend upwards as a result of new agreements with the City’s labor unions, and as retirement contributions and lower than projected fluctuations in the CalPERS pension plan investments drives pension costs higher. General Fund Employee costs are projected at nearly 73% of Total General Fund Expenditures for Fiscal Year 2024. This proportion may increase with new contracts and with projected increases in pension related costs in FY 2025 and beyond.

Despite these economic trends, the Greater Bay Area and El Cerrito are somewhat better positioned to withstand economic down trends due to their diversified revenue sources and the City’s prudent and conservative financial management strategies and approach of avoiding overly optimistic revenue estimates or a presumption of an imminent recession.

El Cerrito’s FY 2025 General Fund Budget was balanced, with estimated revenues projected to be $33,952 greater than expenditures during the budget process. The projected FY 2025 ending General Fund balance was estimated to be $16.87 million. Taking into consideration that the General Fund ended in a more favorable position for FY 2024 at $22.89 million, this would increase the projected FY25 ending fund balance to $22.93 million exceeding the City’s fiscal year General Fund balance goal of 17% of the City’s General Fund expenditures. After budget adoption, the City finalized multi-year contracts with three of its labor unions, resulting in an increase in the expenditure budget of $444,420 for FY 2025 and additional future ongoing costs for future budget years.

The City remains focused on financial stability and opportunities to strengthen our financial position. The City is proud of having sufficient reserves at the start of FY 2024 and commits to maintaining a healthy Agenda Packet Page 68 of 206
City of El Cerrito Management’s Discussion and Analysis General Fund balance in compliance with the City’s financial policies. The City’s priority is to continue to provide the quality of services residents have come to expect.

REQUEST FOR INFORMATION
This financial report is designed to provide a general overview of the City of El Cerrito's finances for El Cerrito's residents, taxpayers, customers, investors, and creditors. This financial report seeks to demonstrate the City's accountability for the money it receives. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Department of Finance at (510) 215-4323, by mail at 10890 San Pablo Avenue, El Cerrito, CA 94530 or by email [email protected].

Agenda Packet Page 69 of 206

BASIC FINANCIAL STATEMENTS
Agenda Packet Page 70 of 206
City of El Cerrito
Statement of Net Position
June 30, 2024
BusinessGovernmental Type
ASSETS Activities Activities Total
Current Assets:

Cash and investments $ 37,196,758 $ 2,523,234 $ 39,719,992 Accounts receivable 2,900,412 758,949 3,659,361
Interest receivable 1,597,270 - 1,597,270
Due from other governments 3,850,690 - 3,850,690
Prepaid items and other assets 316,356 16,087 332,443
Total Current Assets 45,861,486 3,298,270 49,159,756
Noncurrent Assets:

Loans receivable 8,041,087 - 8,041,087
Capital Assets:

Nondepreciable - 13,041,173 13,041,173
Depreciable, net of accumulated depreciation 3,346,955 56,394,492 59,741,447 Total Capital Assets, Net 69,435,665 3,346,955 72,782,620 Total Noncurrent Assets 77,476,752 3,346,955 80,823,707 Total Assets $ 123,338,238 $ 6,645,225 $ 129,983,463

DEFERRED OUTFLOWS OF RESOURCES
Pension Adjustments $ 32,242,338 $ 1,463,287 $ 33,705,625 Deferred Loss on Refunding 211,691 - 211,691
Total Deferred Outflows of Resources $ 32,454,029 $ 1,463,287 $ 33,917,316

LIABILITIES
Current Liabilities:

Accounts payable $ 1,821,144 $ 47,813 $ 1,868,957
Accrued liabilities 1,444,283 60,716 1,504,999
Interest payable 154,000 - 154,000
Deposits payable 2,937,584 - 2,937,584
Unearned revenue 1,346,089 - 1,346,089
Compensated absences, due within one year 1,218,427 48,659 1,267,086 Long-term debt, due within one year 968,015 457,983 1,425,998 Total Current Liabilities 9,889,542 615,171 10,504,713
Noncurrent Liabilities:

Net pension liability 80,740,039 3,500,990 84,241,029
Claims payable, due in more than one year 18,453 - 18,453 Compensated absences, due in more than one year 26,201 656,076 682,277 Long-term debt - due in more than one year 13,096,470 415,200 13,511,670 Total Noncurrent Liabilities 94,511,038 3,942,391 98,453,429 Total Liabilities $ 4,557,562 104,400,580 $ 108,958,142 $

DEFERRED INFLOWS OF RESOURCES
Pension Adjustments 3,599,218 $ 163,347 $ 3,762,565 $
Total Deferred Inflows of Resources $ 163,347 3,599,218 $ 3,762,565 $

NET POSITION
Net investment in capital assets 56,361,576 $ 3,937,059 $ 60,298,635 $ Restricted for:

Capital projects 10,105,585 - 10,105,585
Debt service 24,528 - 24,528
Pensions 1,372,890 - 1,372,890
Community development 10,164,673 - 10,164,673
Total Restricted 21,667,676 - 21,667,676
Unrestricted (30,236,783) (549,456) (30,786,239)
Total Net Position $ 3,387,603 47,792,469 $ 51,180,072 $ The accompanying notes are an integral part of these financial statements.

Agenda Packet Page 71 of 206
City of El Cerrito
Statement of Activities
For the Year Ended June 30, 2024
Operating Capital
Charges for Grants and Grants and Governmental Business-Type Functions/Programs Expenses Services Contributions Contributions Total Activities Activities Total Primary Government:

Governmental Activities:

General government 8,271,822 $ 468,692 $ -$ -$ 468,692 $ $ (7,803,130) $ (7,803,130) Public works 9,122,950 735,339 300,469 4,841,678 5,877,486 (3,245,464) (3,245,464) Recreation 6,999,666 4,958,617 - - 4,958,617 (2,041,049) (2,041,049) Community development 4,530,222 2,896,914 396,686 - 3,293,600 (1,236,622) (1,236,622) Public safety 29,383,735 4,709,908 853,556 - 5,563,464 (23,820,271) (23,820,271) Interest and fiscal charges 166,298 - - - - (166,298) (166,298) Total Governmental Activities $ 58,474,693 $ 13,769,470 $ 1,550,711 $ 4,841,678 $ 20,161,859 (38,312,834) (38,312,834) Business-Type Activities:

Integrated waste management $ 3,412,017 $ 4,182,443 $ 33,907 -$ 4,216,350 $ $ 804,333 804,333 Total Business-Type Activities $ 3,412,017 $ 4,182,443 $ 33,907 -$ 4,216,350 $ 804,333 804,333 General Revenues:

Taxes:

Property taxes and assessments 18,503,332 - 18,503,332
Sales and use taxes 11,457,300 - 11,457,300
Transient occupancy taxes 89,451 - 89,451
Franchise taxes 1,854,938 - 1,854,938
Business license taxes 1,128,561 - 1,128,561
Utility user taxes 4,015,551 - 4,015,551
Real property County transfer tax 3,129,523 - 3,129,523 Other taxes 805,437 - 805,437
Total taxes 40,984,093 - 40,984,093
Investment earnings (loss) 1,302,071 116,999 1,419,070
Other revenues 1,618,267 - 1,618,267
Total General Revenues 43,904,431 116,999 44,021,430
Transfers 3,671 (3,671) -
Total General Revenues and Transfers 43,908,102 113,328 44,021,430 Change in Net Position 5,595,268 917,661 6,512,929
Net Position - Beginning of Year 39,885,047 4,627,343 44,512,390 Prior Period Adjustments 2,312,154 (2,157,401) 154,753
Net Position - Beginning of Year, As Adjusted 42,197,201 2,469,942 44,667,143 Net Position - End of Year $ 47,792,469 $ 3,387,603 $ 51,180,072 The accompanying notes are an integral part of these financial statements.

Program Revenues
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Agenda Packet Page 73 of 206

GOVERNMENTAL FUND FINANCIAL STATEMENTS
General Fund
The General Fund is used for all the general revenues of the City not specifically levied or collected for other City funds, and the related expenditures. The major revenue sources for this Fund are property taxes, sales taxes, utility users tax, franchise fees, business licenses, unrestricted revenues from the State, fines and forfeitures, and interest income. Expenditures are made for public safety, recreation, and the other services described above.

Low and Moderate Income Housing Asset Special Revenue Fund This fund accounts for the activities related to the housing assets assumed by the City as Housing Successor to the former Redevelopment Agency and the collection of revenues from those restricted assets. The activities are governed by California redevelopment law and must be used to provide housing for people with low and moderate incomes.

Street Improvement Fund
This fund accounts for the street maintenance and improvement projects funded by the 2008 Sales Tax Revenue Bonds.

Capital Improvements Capital Projects Fund
This fund accounts for funds expended on various City capital projects.

Agenda Packet Page 74 of 206
City of El Cerrito
Balance Sheet
Governmental Funds
June 30, 2024
Low/Mod
Income
Housing Street Capital Nonmajor Total
General Asset Improvement Improvement Governmental Governmental Fund Fund Fund Fund Funds Funds
ASSETS
Cash and investments $ 446,172 25,339,004 $ 3,880,801 $ 346,685 $ 6,405,391 $ 36,418,053 $ Accounts receivable - 1,078 - 2,027,904 867,122 2,896,104 Interest receivable 272,482 1,324,788 - - - 1,597,270
Due from other governments 3,291,852 - 380,989 - 177,849 3,850,690 Loans receivable - 5,031,087 - - 3,010,000 8,041,087
Prepaid items and other assets 138,615 - - - 21,741 160,356 Total assets $ 29,043,031 $ 6,802,047 $ 4,261,790 $ 2,374,589 $ 10,482,103 $ 52,963,560

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable $ 745,552 $ 2,537 $ 390,287 $ 451,104 $ 231,664 $ 1,821,144 Accrued liabilities 1,390,950 11,680 2,841 - 38,812 1,444,283 Deposits payable 2,465,295 - - - 472,289 2,937,584
Unearned revenue 1,251,292 - - 94,723 74 1,346,089
Total liabilities 5,853,089 14,217 393,128 451,178 837,488 7,549,100 Deferred Inflows of Resources:

Unavailable revenues 296,604 1,505,878 - 1,818,780 110,952 3,732,214 Total deferred inflows of resources 296,604 1,505,878 - 1,818,780 110,952 3,732,214 Fund Balances:

Nonspendable:

Prepaid items 94,669 - - - - 94,669
Inventory 32,082 - - - - 32,082
Restricted:

Redevelopment - - - - 518,615 518,615
Debt service - - - - 24,528 24,528
Street improvements - - 3,868,662 - 1,955,130 5,823,792 Transportation - - - - 1,269,375 1,269,375
Public safety - police - - - - 322,298 322,298
Public safety - vehicle abatement - - - - 395,030 395,030 Parks and recreation - - - - 457,856 457,856
Storm drains - - - - 1,463,502 1,463,502
Public art - - - - 142,329 142,329
Housing - 5,281,952 - - 2,985,000 8,266,952
Pensions 1,372,890 - - - - 1,372,890
Capital projects - - - 104,631 - 104,631
Unassigned:

Emergency Disaster Relief 9,000,000 - - - - 9,000,000
Remaining unassigned 12,393,697 - - - - 12,393,697
Total fund balances 22,893,338 5,281,952 3,868,662 104,631 9,533,663 41,682,246 Total liabilities, deferred inflows of
resources and fund balances $ 29,043,031 $ 6,802,047 $ 4,261,790 $ 2,374,589 $ 10,482,103 $ 52,963,560 The accompanying notes are an integral part of these financial statements.

Major Funds
Agenda Packet Page 75 of 206
City of El Cerrito
Reconciliation of the Government Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2024
Total Fund Balances - Total Governmental Funds $ 41,682,246 Amounts reported for governmental activities in the statement of net position were different because:

Capital assets used in governmental activities were not current financial resources. Therefore, they were not reported in the Governmental Funds Balance Sheet. The capital assets were adjusted as follows:

Capital assets 133,716,891
Less: accumulated depreciation (64,868,793)
Total Capital Assets 68,848,098
Interest payable on long-term debt did not require current financial resources. Therefore, interest payable was not reported as a liability in Governmental Funds Balance Sheet. (154,000) Internal service funds are used by management to charge the costs of vehicles and equipment replacement to individual funds. The assets and liabilities of the internal service funds are included in governmental activities. 581,323
The differences from benefit plan assumptions and estimates versus actuals are not included in the plan's actuarial study until the next fiscal year and are reported as deferred inflows or deferred outflows of resources in the statement of net position. 28,643,120 The difference between the carrying value of refunded debt and the reacquisition price is deferred and amortized over the shorter of the remaining life of the refunded debt or the refunding debt. 211,691 Liabilities were reported for certain revenues that were not available to pay current period expenditures and were reported as unearned in the fund statements. 3,732,214 Long-term obligations were not due and payable in the current period. Therefore, they were not reported in the Governmental Funds Balance Sheet. The long-term liabilities were adjusted as follows:

Long-term debt (13,119,228)
Claims payable (18,453)
Compensated absences (1,874,503)
Net pension liability (80,740,039)
Total Long-Term Obligations (95,752,223)
Net Position of Governmental Activities $ 47,792,469
The accompanying notes are an integral part of these financial statements.

Agenda Packet Page 76 of 206
City of El Cerrito
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
For the Year Ended June 30, 2024
Low/Mod
Income
Housing Street Capital Nonmajor Total
General Asset Improvement Improvement Governmental Governmental Fund Fund Fund Fund Funds Funds

REVENUES
Taxes and assessments $ 35,847,684 -$ 2,154,278 $ $ 204,243 $ 2,952,131 $ 41,158,336 Licenses and permits 1,272,849 - - - 1,272,849 -
Fines and penalties 231,231 - - - 231,231 -
Intergovernmental 5,234,450 - 1,093,448 1,661,968 - 7,989,866 Use of money and property 667,457 39,928 180,003 - 862,909 1,750,297 Charges for Services 8,594,094 - - - 5,405 8,599,499
Other Revenue 272,138 - 12,892 383,311 - 668,341
Total Revenues 52,119,903 39,928 2,347,173 1,297,691 5,865,724 61,670,419

EXPENDITURES
Current:

General government 7,587,389 - 6,105 - 7,366 7,600,860
Public works 2,615,288 - 121,101 - 3,305,727 6,042,116
Recreation 6,120,140 - - - 256,744 6,376,884
Community development 4,267,261 18,240 - - 51,630 4,337,131 Public Safety 27,693,105 - - - 331,942 28,025,047
Capital outlay - 156,776 4,001,919 437,393 5,239,077 642,989 Debt service
Principal - 205,276 - 700,000 - 905,276
Interest and fiscal charges 25,506 - - 583,063 - 608,569 Total Expenditures 48,670,741 18,240 564,599 4,001,919 5,879,461 59,134,960 Excess (Deficiency) of
Revenues over Expenditures 3,449,162 21,688 1,782,574 (2,704,228) (13,737) 2,535,459

OTHER FINANCING SOURCES (USES)
Transfers in 3,671 - 3,121,431 - 1,302,693 4,427,795
Transfers out (3,702,980) - (707,100) - (94,000) (4,504,080) Total Other Financing Sources (Uses) (3,699,309) (707,100) - 3,121,431 1,208,693 (76,285) Net Change in Fund Balances (250,147) 21,688 1,075,474 417,203 1,194,956 2,459,174 Fund Balances Beginning 23,143,081 5,260,264 2,793,188 (312,572) 8,338,707 39,222,668 Prior Period Corrections 404 - - - - 404
Fund Balances Beginning, as Adjusted 23,143,485 5,260,264 2,793,188 (312,572) 8,338,707 39,223,072 Fund Balances Ending $ 22,893,338 $ 5,281,952 $ 3,868,662 $ 104,631 $ 9,533,663 $ 41,682,246 The accompanying notes are an integral part of these financial statements.

Major Funds
Agenda Packet Page 77 of 206
City of El Cerrito
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Government-Wide Statement of Activities
For the Year Ended June 30, 2024
Net Change in Fund Balances - Total Governmental Funds $ 2,459,174 Amounts reported for governmental activities in the Statement of Activities and Changes in net position were different because:

Governmental Funds report capital outlay as expenditures. However, in the Government-Wide Statement of Activities and Changes in net position, the cost of those assets was allocated over their estimated useful lives as depreciation expense.

Capital outlay 4,499,403
Depreciation expense (2,895,793)
Compensated absences not required to be paid with current financial resources are not reported in the governmental funds, but are accrued as noncurrent liabilities in the Government Wide Statement Net Position. The change from prior year accrued compensated absences is reported in the applicable (158,479) program expense.

Certain revenues were not recorded or recorded as unearned revenue in the governmental funds because they did not meet the revenue recognition criteria of availability. However, they were included as revenue in the Government-Wide Statement of Activities under the full accrual basis. 2,357,198 The difference between the carrying value of refunded debt and the reacquisition price is deferred and amortized over the shorter of the remaining life of the refunded debt or the refunding debt. (17,672) In governmental funds, actual contributions to benefit plans are reported as expenditures in the year incurred. However, in the government-wide statement of activities, only the current year benefit expense as noted in the plans' valuation reports is reported as an expense, as adjusted for deferred inflows and outflows of resources. (2,028,138)
Repayment of long-term debt was an expenditure in governmental funds, but the repayment reduced long-term liabilities in the Government-Wide Statement of Net Position. 905,276 Premiums from the issuance of long-term debt are amortized over the life of the bonds in the Statement of Activities and reported as proceeds when issued in governmental funds. 455,589 Internal service funds are used by management to charge the costs of vehicles and equipment replacement to individual funds. The assets and liabilities of the internal service funds are included in governmental activities. (26,115)
Certain expenses reported in the statement of activities do not require the use of current financial resources and are not reported as expenditures in the fund statements as follows:

Insurance claims 5,515
Interest expense on long-term debt was reported in the Government-Wide Statement of Activities and Changes in net position, but it did not require the use of current financial resources. Therefore, interest expense was not reported as expenditures in governmental funds. The following amount represented the net change in accrued interest from from prior year. 39,310
Change in Net Position of Governmental Activities $ 5,595,268 The accompanying notes are an integral part of these financial statements.

Agenda Packet Page 78 of 206
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Agenda Packet Page 79 of 206

PROPRIETARY FUND FINANCIAL STATEMENTS
Integrated Waste Management Fund
This fund accounts for the City's recycling collection service operations financed and operated in a manner similar to a private business enterprise. The intent of the City is that the cost of providing goods and services be financed primarily through user charges.

Vehicle and Equipment Replacement Internal Service Fund The City’s internal service fund accounts for the City's departments' vehicle and equipment replacement activities.

Agenda Packet Page 80 of 206
City of El Cerrito
Statement of Net Position
Proprietary Funds
June 30, 2024
Integrated Vehicle and
Waste Equipment
Management Replacement
Fund Fund
ASSETS
Current assets:

Cash and cash equivalents $ 2,523,234 $ 778,705
Accounts receivable 758,949 4,308
Prepaid items and other assets 16,087 156,000
Total current assets 3,298,270 939,013
Capital assets:

Nondepreciable - 439,355
Depreciable, net of accumulated depreciation 3,346,955 148,212 Total capital assets, net 3,346,955 587,567
Total assets $ 6,645,225 $ 1,526,580

DEFERRED OUTFLOWS OF RESOURCES
Pension adjustments $ 1,463,287 $ -
Total deferred outflows of resources $ 1,463,287 $ -

LIABILITIES
Current liabilities:

Accounts payable $ 47,813 $ -
Accrued liabilities 60,716 -
Compensated absences, due within one year 48,659 -
Financed purchases, due within one year 457,983 105,028 Total current liabilities 615,171 105,028
Noncurrent liabilities:

Net pension liability 3,500,990 -
Compensated absences, due in more than one year 26,201 - Financed purchases, due in more than one year 415,200 840,229 Total noncurrent liabilities 3,942,391 840,229
Total liabilities $ 4,557,562 $ 945,257

DEFERRED INFLOWS OF RESOURCES
Pension adjustments $ 163,347 $ -
Total deferred inflows of resources $ 163,347 $ -

NET POSITION
Net Investment in capital assets $ 3,937,059 $ 421,015
Unrestricted (549,456) 160,308
Total net position $ 3,387,603 $ 581,323
The accompanying notes are an integral part of these financial statements.

Business-Type
Activities
Enterprise Funds
Governmental
Activities
Internal Service
Funds
Agenda Packet Page 81 of 206
City of El Cerrito
Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary Funds
For the Year Ended June 30, 2024
Integrated Vehicle and
Waste Equipment
Management Replacement
Fund Fund

OPERATING REVENUES
Charges for services 4,066,782 $ - $
Recycling sales 115,413 -
Other 248 -
Total operating revenues - 4,182,443

OPERATING EXPENSES
Personnel services 2,081,490 -
Services 838,441 -
Supplies 285,285 -
Depreciation 179,492 109,788
Total operating expenses 3,384,708 109,788
Operating income (loss) 797,735 (109,788)

NONOPERATING REVENUES (EXPENSES)
Grants 33,907 -
Interest expense (27,309) (34,956)
Investment earnings 116,999 38,673
Total nonoperating revenues (expenses) 123,597 3,717
Income (loss) before operating transfers 921,332 (106,071) Transfers in - 79,956
Transfers out (3,671) -
Total transfers (3,671) 79,956
Change in net position 917,661 (26,115)
Total net position - beginning 4,627,343 456,819
Prior period adjustment - accounting change (2,161,131) - Prior period corrections 3,730 150,619
Total net position - beginning , as adjusted 2,469,942 607,438 Total net position - ending $ 3,387,603 $ 581,323
The accompanying notes are an integral part of these financial statements.

Business-Type
Activities
Enterprise Funds
Governmental
Activities
Internal Service
Funds
Agenda Packet Page 82 of 206
City of El Cerrito
Statement of Cash Flows
Proprietary Funds
For the Year Ended June 30, 2024
Integrated Vehicle and
Waste Equipment
Management Replacement
Fund Fund
Cash flows from operating activities:

Receipts from customers 3,757,224 $ $ -
Payments to suppliers (1,074,528) -
Payments to employees (2,026,621) -
Net cash provided (used) by operating activities 656,075 - Cash flows from noncapital financing activities:

Receipts from grants 33,907 -
Interfund transactions (3,671) 79,956
Net cash provided (used) by noncapital financing activities 30,236 79,956 Cash flows from capital financing activities:

Acquisition of capital assets - (439,353)
Principal payments on long-term debt (453,558) (101,635) Interest paid on long-term debt (27,309) (34,956)
Net cash provided (used) by capital financing activities (480,867) (575,944) Cash flows from investing activities:

Investment income (loss) 116,997 38,673
Net cash provided (used) by investing activities 116,997 38,673 Net increase (decrease) in cash and cash equivalents 322,441 (457,315) Cash and cash equivalents - beginning 2,200,793 1,236,020 Cash and cash equivalents - ending $ 2,523,234 $ 778,705 Reconciliation of operating income to net cash provided (used) by operating activities:

Operating income (loss) $ 797,735 $ (109,788)
Adjustments to reconcile operating income (loss)
to net cash provided (used) by operating activities:

Depreciation 179,492 109,788
Prior period adjustments (2,157,401) -
Change in operating assets and liabilities:

Accounts receivables (428,949) -
Prepaid items and other assets 60,516 -
Deferred outflows of resources (1,463,287) -
Accounts payable (11,318) -
Accrued liabilities 1,752 -
Unearned revenue - -
Compensated absences 13,198 -
Net pension liability 3,500,990 -
Deferred inflows of resources 163,347 -
Net cash provided (used) by operating activities $ 656,075 $ - The accompanying notes are an integral part of these financial statements.

Business-Type
Activities
Enterprise Funds
Governmental
Activities
Internal Service
Funds
Agenda Packet Page 83 of 206

FIDUCIARY FUND FINANCIAL STATEMENTS
Pension Trust Fund
The City of El Cerrito Pension Trust Fund accounts for assets held by the City on behalf of the retiree's of the City's single employer pension plan.

Private Purpose Trust Fund
The Successor Agency Trust Fund accounts for assets and liabilities transferred from the City to the Successor Agency Trust Fund.

Agenda Packet Page 84 of 206
City of El Cerrito
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2024
El Cerrito
Redevelopment Agency
Pension Successor Agency
Trust Private-Purpose Trust
Fund Fund
ASSETS
Cash and investments $ 32,654 7,837 $
Total assets $ 32,654 7,837 $

LIABILITIES
Accrued liabilities $ 106,531 - $
Long-term liabilities:

Due within one year 2,057,667 -
Due in more than one year 1,048,242 -
Total liabilities $ 3,212,440 - $

NET POSITION
Unrestricted - $ (3,179,786) $
Restricted for pensions 7,837 -
Total Net Position $ (3,179,786) 7,837 $
The accompanying notes are an integral part of these financial statements.

Agenda Packet Page 85 of 206
City of El Cerrito
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2024
El Cerrito
Redevelopment Agency
Pension Successor Agency
Trust Private-Purpose Trust
Fund Fund

ADDITIONS
Property taxes $ - $ 2,376,718
Total additions - 2,376,718

DEDUCTIONS
General government - 2,750
Administrative fees paid to the City - 250,000
Debt service:

Interest and fiscal charges - 120,416
Total deductions - 373,166
Change in net position - 2,003,552
Total net position - beginning 7,837 (5,161,949)
Prior period corrections - (21,389)
Total net position - beginning, as adjusted 7,837 (5,183,338) Total net position - ending $ 7,837 $ (3,179,786)
The accompanying notes are an integral part of these financial statements.

Agenda Packet Page 86 of 206
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Agenda Packet Page 87 of 206

NOTES TO THE BASIC

FINANCIAL STATEMENTS
Agenda Packet Page 88 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The City of El Cerrito (City) was incorporated August 1, 1917. The City provides the following services:
public safety (police and fire), recreation, streets and highways, recycling, public improvements, planning and zoning, and general administration services. The City's population has remained relatively stable for some years; population at June 30, 2024, was 25,700. The City operates under the Council-Manager form of government, with five elected Council members served by a full-time City Manager and staff.

A. Financial Reporting Entity
The accompanying basic financial statements present the financial activity of the City along with the financial activities of its blended component units, which are entities for which the City is financially accountable. Together these entities comprise the primary government for reporting purposes. Although they are separate legal entities, blended component units are in substance part of the City's operations and are reported as an integral part of the City's financial statements. The City's component units, which are described below, are all blended.

The El Cerrito Public Financing Authority (Authority)
The El Cerrito Public Financing Authority is a nonprofit corporation organized by the City to provide financial assistance to the City. Administrative and related normal business expenses incurred in the dayto-day operations of the Authority are provided by the City. Such expenses are insignificant to the Authority's operations. The Authority obtains financing for City sponsored projects using leases signed by the City as collateral. The amounts of the leases are calculated to provide sufficient resources to repay the debt incurred to finance the projects. The financial activities of the Authority have been included in these financial statements in the Public Financing Authority Debt Service Fund and the Integrated Waste Management Enterprise Fund.

The El Cerrito Municipal Services Corporation
The El Cerrito Municipal Services Corporation (Corporation) is a nonprofit corporation organized in 1982 by the City under the corporations laws of the State of California. The Corporation was originally organized to assist the City with communications with its residents and to provide financial assistance to the City by financing real and personal property and improvements for the benefit of the residents of the City. In May 2011, the Corporation amended its articles of incorporation to provide support to the City by utilizing private and public funding sources to combat community blight and deterioration in the City and contribute to the physical improvement of the City; providing and expanding economic opportunities for low and moderate income households in the City; encouraging and stimulating economic development within the City. The financial activities of the Corporation have been included in these financial statements in the Municipal Services Corporation Special Revenue Fund.

The City of El Cerrito Employees' Pension Plan
The City of El Cerrito Employees' Pension Plan is governed by the City's Retirement System Ordinance, Chapter 3 of the City of El Cerrito Municipal Code, and is used to account for contributions and investment income restricted to pay retirement and death benefits of employees who elected not to be covered by the California Public Employees' Retirement System as of February 6, 1959. Benefit and contribution provisions are established by the City Council. Eligibility, actuarial interest rates, administration and certain other tasks are the responsibility of the Council established by the above ordinance. The financial activities of the Pension Plan have been included in these financial statements in the Pension Trust Fund.

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June 30, 2024
Audited financial statements for the Authority, Corporation and Pension Plan may be obtained from the City of El Cerrito, 10890 San Pablo Avenue, El Cerrito, CA 94530.

The City applies all applicable GASB pronouncements for certain accounting and financial reporting guidance. In December of 2010, GASB issued Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements.

GASB 62 incorporates pronouncements issued on or before November 30, 1989 into GASB authoritative literature. In June of 2015, GASB issued Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments. GASB 76 supersedes Statement No. 55, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments. GASB 76 also amends GASB 62 and AICPA Pronouncements paragraphs 64, 74, and 82. The GAAP hierarchy sets forth what constitutes GAAP for all state and local governmental entities. It establishes the order of priority of pronouncements and other sources of accounting and financial reporting guidance that a governmental entity should apply. The sources of authoritative GAAP are categorized in descending order of authority as follows:
a. Officially established accounting principles—Governmental Accounting Standards Board (GASB) Statements (Category A).
b. GASB Technical Bulletins; GASB Implementation Guides; and literature of the AICPA cleared by the GASB (Category B).

If the accounting treatment for a transaction or other event is not specified by a pronouncement in Category A, a governmental entity should consider whether the accounting treatment is specified by a source in Category B.

B. Basis of Presentation
The basic financial statements of the City of El Cerrito, California, (the City) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental agencies.

The Governmental Accounting Standards Boards (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant of the City's accounting policies are described below.

The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund equity, revenues, and expenditures or expenses, as appropriate. These funds are established for the purpose of carrying out specific activities or certain objectives in accordance with specific regulations, restrictions, or limitations. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.

Government-Wide Financial Statements
The City's government-wide financial statements include a Statement of Net Position and a Statement of Activities and Changes in Net Position. These statements present summaries of governmental and business-type activities for the City. Fiduciary activities of the City are not included in these statements.

Governmental activities, which normally are supported by taxes and intergovernmental revenues, are Agenda Packet Page 90 of 206
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June 30, 2024
reported separately from business-type activities, which rely to a significant extent on fees and charges for support.

These statements are presented on an "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all of the City's assets, deferred outflows of resources, liabilities, deferred inflows of resources, are included in the accompanying Statement of Net Position. The Statement of Activities presents changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred. The Statement of Activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those clearly identifiable with a specific function or segment. Certain types of transactions are reported as program revenues for the City in three categories:
 Charges for services
 Operating grants and contributions
 Capital grants and contributions
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the fiduciary funds are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements.

Certain eliminations have been made as prescribed by GASB Statement No. 34 in-regards-to interfund activities, payables, and receivables. All internal balances in the Statement of Net Position have been eliminated except those representing balances between the governmental activities and the business-type activities, which are presented as internal balances and eliminated in the total primary government column. In the Statement of Activities, internal fund transactions have been eliminated; however, those transactions between governmental and business-type activities have not been eliminated. The following interfund activities have been eliminated:
 Transfers in/Transfers out
The City applies all applicable GASB Pronouncements including all Interpretations currently in effect.

Governmental Fund Financial Statements
Governmental fund financial statements include a Balance Sheet and a Statement of Revenues, Expenditures and Changes in Fund Balances for all major governmental funds and non-major funds aggregated. An accompanying schedule is presented to reconcile and explain the differences in net position as presented in these statements to the net position presented in the government-wide financial statements. The City has presented all major funds that met the applicable criteria.

All governmental funds are accounted for on a spending or "current financial resources" measurement focus and the modified accrual basis of accounting. Accordingly, only current assets, deferred outflows of resources, current liabilities, and deferred inflows of resources are included on the balance sheets. The Statement of Revenues, Expenditures and Changes in Fund Balances present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets.

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City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period.

Accordingly, revenues are recorded when received in cash, except that revenues subject to accrual (up to 60 days after year-end) are recognized when due. The primary revenue sources, which have been treated as susceptible to accrual by the City, are property taxes, taxpayer-assessed tax revenues (sales taxes, transient occupancy taxes, etc.), licenses, grant revenues and earnings on investments. Expenditures are recorded in the accounting period in which the related fund liability is incurred.

Unearned revenues arise when potential revenues do not meet both the "measurable" and "available" criteria for recognition in the current period. Unearned revenues also arise when the government receives resources before it has a legal claim to them, as when grant monies are received prior to incurring qualifying expenditures. In subsequent periods when both revenue recognition criteria are met or when the government has a legal claim to the resources, the unearned revenue is removed from the combined balance sheet and revenue is recognized.

The City reports the following funds as major funds:

General Fund
The General Fund is the general operating fund of the City. It is used for all financial resources except those required to be accounted for in another fund.

Low and Moderate Income Housing Asset Special Revenue Fund This fund accounts for the activities related to the housing assets assumed by the City as Housing Successor to the former Redevelopment Agency and the collection of revenues from those restricted assets. The activities are governed by California redevelopment law and must be used to provide housing for people with low and moderate incomes. The major revenue sources are the loan repayments in the fiscal year. Prior to dissolution of the Redevelopment Agency in 2012 it received property tax revenues but has not received any since.

Street Improvement Fund
This fund accounts for the street maintenance and improvement projects funded by the 2008 Sales Tax Revenue Bonds.

Capital Improvements Capital Projects Fund
This fund accounts for funds expended on various City capital projects.

Additionally, the City reports the following nonmajor fund types of governmental funds:

Special Revenue Funds
Special revenue funds account for and report the proceeds of specific revenue sources that are restricted, committed or assigned to specific purposes other than debt service or capital projects.

Debt Service Funds
Debt service funds are used to accumulate resources for repayment of the rbonds and lease arrangements.

Capital Project Funds
Capital project funds account for and report financial resources that are restricted, committed, or assigned to expenditures for capital outlays, including the acquisition or construction of capital facilities and other capital assets in governmental funds.

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June 30, 2024
Proprietary Funds
In the fund financial statements, proprietary funds are presented using the accrual basis of accounting.

Revenues are recognized when they are earned and expenses are recognized when the related goods or services are delivered. In the fund financial statements, proprietary funds are presented using the “economic resources measurement focus”. This means all assets, deferred outflows of resources, liabilities (whether current or noncurrent) and deferred inflows of resources associated with their activities are included on their balance sheets. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in total net position.

Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal value. Non-operating revenues, such as subsidies, taxes, and investment earnings result from nonexchange transactions or ancillary activities. Amounts paid to acquire capital assets are capitalized as assets in the proprietary fund financial statements.

The City has the following enterprise fund that have been reported as major:

Integrated Waste Management Enterprise Fund
This fund is used to account for the City's recycling collection services operations financed and operated in a manner similar to a private business enterprise.

The City also reports the following internal service fund:

Vehicles and Equipment Replacement Internal Service Fund The Vehicles and Equipment Replacement Internal Service Fund is used to finance and account for vehicles and equipment for each department, and managing costs associated with the acquisition of necessary capital assets.

Fiduciary Fund Financial Statements
Fiduciary fund financial statements consist of a Statement of Fiduciary Net Position and a Statement of Changes in Fiduciary Net Position. Fiduciary funds are accounted for using the accrual basis of accounting.

The City of El Cerrito Pension Trust Fund and the El Cerrito Redevelopment Agency Successor Agency Private-Purpose Trust Fund account for the accumulation of resources to be used for payments at appropriate amounts and times in the future. The financial activities of these funds are excluded from the Government-wide financial statements, but are presented in the separate Fiduciary Fund financial statements.

C. 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.

The City's cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturity of three months or less from the date of acquisition. Cash and cash Agenda Packet Page 93 of 206
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June 30, 2024
equivalents are combined with investments and displayed as Cash and Investments. 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.

Deposit and Investment Risk Disclosures - In accordance with GASB Statement No. 40, Deposit and Investment Disclosures (Amendment of GASB Statement No. 3), certain disclosure requirements, if applicable, for Deposits and Investment Risks in the following areas: Interest Rate Risk, Overall Credit Risk, Custodial Credit Risk, Concentrations of Credit Risk, and Foreign Currency Risk.

Other disclosures are specified including use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year-end and other disclosures. The City participates in an investment pool managed by the State of California titled Local Agency Investment Fund (LAIF), which has invested a portion of the pool 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 change in interest rates.

Investments are recorded at fair value in accordance with GASB Statement No. 72, Fair Value Measurement and Application. Accordingly, the change in fair value of investments is recognized as an increase or decrease to investment assets and investment income. 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. In determining this amount, three valuation techniques are available:
 Market approach - This approach uses prices generated for identical or similar assets or liabilities.

The most common example is an investment in a public security traded in an active exchange such as the NYSE.
 Cost approach - This technique determines the amount required to replace the current asset. This approach may be ideal for valuing donations of capital assets or historical treasures.  Income approach - This approach converts future amounts (such as cash flows) into a current discounted amount.

Each of these valuation techniques requires inputs to calculate a fair value. Observable inputs have been maximized in fair value measures, and unobservable inputs have been minimized.

D. Restricted Cash and Investments
Certain restricted cash and investments are held by fiscal agents for the redemption of bonded debt, for acquisition and construction of capital projects, and to meet bond indenture debt reserve requirements. Cash and investments are also restricted for deposits held for others within the enterprise funds.

E. Inventory and Prepaid Items
Inventory held in the General Fund is valued at cost using the first-in-first-out (FIFO) inventory method.

Inventory of the General Fund consist of expendable supplies held for consumption. The cost is recorded as an expenditure in the General Fund at the time individual items are consumed. Reported Agenda Packet Page 94 of 206
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June 30, 2024
General Fund inventory is equally offset by nonspendable fund balance which indicates that the inventory does not constitute available spendable resources even though the inventory is a component of net current assets.

Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items. In governmental funds, prepaid items are accounted for using the consumption method and a portion of fund balance equal to the prepaid items has been offset by nonspendable fund balance to indicate that is not available for appropriation.

F. Interfund Receivables and Payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either “due to/from other funds” (i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the non-current portion of interfund loans). All other outstanding balances between funds are reported as “due to/from other funds.” Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as “internal balances.” Advances between funds, as reported in the fund financial statements, are offset by a fund balance reserve account in applicable government funds to indicate that they are not available for appropriation and are not expendable available financial resources. The City considers all trade and property tax receivables to be fully collectible and therefore no allowance for uncollectible accounts is considered necessary.

G. Receivables
Billed, but unpaid, services provided to individuals or non-governmental entities are recorded as accounts receivable. Revenues earned but not collected by year-end are accrued. No allowance for uncollectible accounts receivable has been provided as management has determined that uncollectible accounts have historically been immaterial and the direct write-off method does not result in a material difference from the allowance method.

H. Loans Receivable
Under the City’s housing opportunity program, loans are made to qualified individuals and businesses within prescribed project areas for the purpose of housing acquisition, housing rehabilitation and/or economic development. Repayments of the outstanding loans are classified as a revenue source in the applicable funds. The portion of loans receivable deemed to be unavailable have been offset by Unavailable Revenues in the accompanying financial statements, which is a part of deferred inflows of resources.

I. Lease Receivables
When applicable, the City’s lease receivables are measured at the present value of lease payments expected to be received during the lease term. A deferred inflow of resources is recorded for the lease.

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 plus incentive payments received. The deferred inflow of resources is amortized on a straight-line basis over the term of the lease.

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City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
J. Capital Assets
Capital assets used in governmental fund operations, including infrastructure assets (i.e. roads, curbs, gutters, bridges, sidewalks, drainage systems, lighting systems, and other assets) are reflected in the government-wide financial statements, along with related depreciation and amortization. Capital assets are defined by the City as assets with an initial individual cost of more than $10,000 and an estimated life in excess of one year. Purchased capital assets are valued at historical cost or estimated historical cost.

Right of use assets are valued at the net present value of the total lease payments over the period of the lease. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are valued at acquisition value on the date donated. Capital assets acquired under finance or purchase agreements are capitalized when the City accumulates an ownership equity in the assets acquired.

The purpose of depreciation and amortization is to spread the cost of capital assets equitably among all users over the life of these assets or the lease term. The amount charged to depreciation and amortization expense each year represents that year’s pro rata share of the cost of capital assets.

Depreciation is provided using the straight-line method whereby 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. Intangible right-to-use assets are amortized over the shorter of the lease term or the useful life of the underlying asset, unless the lease contains a purchase option that the City has determined is reasonably certain of being exercised, then the lease asset is amortized over the useful life of the underlying asset. Intangible right-to-use subscription assets are amortized over the shorter of the subscription term or the useful life of the underlying asset.

Depreciation is recorded on a straight-line basis over the useful lives of the assets as follows:

Buildings 20-50 Years
Building improvements 20-60 Years
Equipment 2-15 Years
Streets 20 Years
Parks 20 Years
Curbs and gutters 20 Years
Storm drains 65 Years
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase is reflected in the capitalized value of the asset constructed, net of interest earned on the invested proceeds over the same period.

K. Deferred Outflows/Deferred Inflows
In addition to assets, the statement of financial position or balance sheet will sometimes report 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 position or balance sheet will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred Agenda Packet Page 96 of 206
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Notes to the Basic Financial Statements
June 30, 2024
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.

L. Interest Payable
In the government-wide and proprietary fund financial statements, interest payable of long-term debt is recognized as an incurred liability for governmental fund types. The City has not allocated the interest on long-term debt to departments. In the fund financial statements, governmental fund types do not recognize the interest payable when the liability is incurred. Interest on long-term debt is recorded in the fund statements when payment is made.

M. Compensated Absences
Compensated absences comprise unused vacation and 25% of unused sick leave, which are accrued as earned. The liability for compensated absences is determined annually. The City's liability for compensated absences is recorded in various Governmental funds or Proprietary funds as appropriate.

Compensated absences are reported in governmental funds only if they have matured, such as for the unused reimbursable leave still outstanding following an employee's retirement. The long-term portion for Governmental Activities is recorded in the Statement of Net Position.

N. Deferred Compensation
City employees may defer a portion of their compensation under City sponsored Deferred Compensation Plans created in accordance with Internal Revenue Code Section 457. Under these Plans, participants are not taxed on the deferred portion of their compensation until distributed to them; distributions may be made only at termination, retirement, death or in an emergency as defined by the Plans. The laws governing deferred compensation plan assets require plan assets to be held by a Trust for the exclusive benefit of plan participants and their beneficiaries. Since the assets held under these plans are not the City's property and are not subject to City control, they have been excluded from these financial statements. The City has determined that this plan does not meet the reporting requirements of GASB Statement No. 97 - Certain Component Unit Criteria, And Accounting And Financial Reporting For Internal Revenue Code Section 457 Deferred Compensation Plans and GASB Statement No. 84 - Fiduciary Activities.

O. Long-Term Liabilities
In the government-wide financial statements and proprietary fund statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental or business-type activities.

Bond premiums and discounts are deferred and amortized over the life of the bonds using the straight-line method. Bonds payable are reported net of the applicable bond premium or discount. Debt issuance costs are expensed in year incurred. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financial sources. Premiums received on debt issuance are reported as other financing sources while discounts on debt issuance reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

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City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
P. Lease Liabilities
When applicable, the City recognizes a lease liability and an intangible right‐to‐use lease asset (capital asset) in the government‐wide financial statements.

At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs. Subsequently, the lease asset is amortized on a straight‐line basis over its useful life.

Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments.  The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases.
 The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.

The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability.

Lease assets are reported separately with capital assets as right of use assets and lease liabilities are reported with long-term liabilities in the statement of net position.

Q. Benefit Plans
Pension Expense
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City’s California Public Employees’ Retirement System (CalPERS) plans (the Plans) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by CalPERS.

For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

For this report, the following timeframes are used:

Valuation Date June 30, 2022
Measurement Date June 30, 2023
Measurement Period July 1, 2022 to June 30, 2023
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City of El Cerrito
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June 30, 2024
R. Fund Balances
In accordance with Government Accounting Standards Board 54, Fund Balance Reporting and Governmental Fund Type Definitions, the City classifies governmental fund balances as follows:

Nonspendable
Nonspendable fund balance represents balances set aside to indicate items that do not represent available, spendable resources even though they are a component of assets. Fund balances required to be maintained intact, such as Permanent Funds, and assets not expected to be converted to cash, such as prepaids, notes receivable, leases receivable in excess of deferred inflows of resources and land held for redevelopment are included. 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
Restricted fund balances have external restrictions imposed by creditors, grantors, contributors, laws, regulations, or enabling legislation which requires the resources to be used only for specific purpose.

Encumbrances and nonspendable amounts subject to restrictions are included along with spendable resources.

Committed
The City Council, as the City’s highest level of decision-making authority, may commit fund balance for specific purposes pursuant to the constraints imposed by formal actions taken, such as an ordinance or resolution. These committed amounts cannot be used for any other purpose unless the City Council removes or changes the specified use through the same type of formal action taken to establish the commitment. City Council action to commit fund balance needs to occur within the fiscal reporting period; however the specific amounts can be determined subsequently. Encumbrances and nonspendable amounts subject to Council commitments are included along with spendable resources.

Assigned
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, the Finance Director, and may be changed at the discretion of the City Council or its designee. This category includes encumbrances; nonspendable amounts, 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.

Unassigned
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.

Flow Assumption / Spending Order Policy
When expenditures are incurred for purposes for which both restricted and unrestricted fund balance is available, the City considers restricted funds to be spent first. When expenditures are incurred for which committed, assigned, or unassigned fund balances are available, the City considers amounts to be spent first out of committed funds, then assigned funds, and finally unassigned funds, as needed, unless the City Council has directed otherwise.

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City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
S. Net Position
In the government-wide financial statements, net position is classified in the following categories:

Net Investment in Capital Assets
This amount consists of capital assets net of accumulated depreciation and reduced by outstanding debt that are attributed to the acquisition, construction, or improvement of the assets. In addition, deferred outflows of resources and deferred inflows of resources that are attributable to the acquisition, construction, or improvement of those assets or related debt also are included in the net investment in capital assets component of net position.

Restricted Net Position
This amount is restricted by external creditors, grantors, contributors, or laws or regulations of other governments. These include developer fees received for use on capital projects, debt service requirements, and community development projects.

Unrestricted Net Position
This amount is all net position that does not meet the definition of "net investment in capital assets" or "restricted net position." The detail of amounts reported for each of the above defined net position categories is reported in the government-wide Statement of Net Position.

Use of Restricted/Unrestricted Net Position
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.

T. Interfund Transactions
Interfund services provided and used are accounted for as revenue, expenditures or expenses, as appropriate. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursed fund. All other interfund transactions, except for interfund services provided and used and reimbursements, are reported as transfers. Nonrecurring or nonroutine permanent transfers of equity are reported as residual equity transfers. All other interfund transfers are reported as transfers.

U. Property Taxes and Special Assessments
Property tax revenue is recognized in the fiscal year for which the tax and assessment is levied. The County of Contra Costa levies, bills and collects property taxes and special assessments for the City; under the County's "Teeter Plan" the County remits the entire amount levied and handles all delinquencies, retaining interest and penalties. Secured and unsecured property taxes are levied on January 1 Secured property tax is due in two installments, on November 1 and February 1, becomes a lien on those dates and becomes delinquent on December 10 and April 10, respectively. Unsecured property tax is due on July 1, and becomes delinquent on August 31. The term "unsecured" refers to taxes on personal property other than real estate, land and buildings. These taxes are secured by liens on the property being taxed. Property tax revenues are recognized by the City in the fiscal year they are assessed.

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City of El Cerrito
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June 30, 2024
V. Budgetary Information
Annually, the City Manager submits to the City Council a proposed operating budget in June for the following fiscal year, as required by the City's budget ordinance. This budget includes proposed expenditures and the revenues expected to finance them. As modified during public study sessions, the preliminary budget becomes the proposed budget. Public hearings are conducted to obtain taxpayer comments and the budget is legally enacted through passage of a resolution. The City Manager is authorized to transfer budgeted amounts within departments within funds. In addition, amendments that are made to authorize spending of increased or new special purpose revenues may be approved by the City Manager. Budget modifications between funds or increases or decreases to a fund's overall budget must be approved by the City Council. The legal level of budgetary control is at the fund level, except for the Municipal Services Corporation which requires approval by its Board.

Budgets are adopted on a basis consistent with generally accepted accounting principles. Unexpended appropriations lapse at year end and must be reappropriated in the following year. Budgeted amounts are as originally adopted, or as amended by the City Council.

W. Encumbrances
Under encumbrance accounting, purchase orders, contract and other commitments for expenditures are recorded in order to commit that portion of the applicable appropriation. Encumbrance accounting is employed as an extension of formal budgetary integration in all funds. All appropriations and encumbrances lapse at year end, valid outstanding encumbrances (those for which performance under the executory contract is expected in the next year) are re-appropriated and become part of the subsequent year’s budget pursuant to state regulations.

X. Unearned Revenue
Unearned revenue arises when assets are received before revenue recognition criteria have been satisfied.

Grants and entitlements received before eligibility requirements are met are recorded as deferred inflows from unearned revenue. In the governmental fund financial statements, receivables associated with nonexchange transactions that will not be collected within the availability period have been recorded as deferred inflows from unavailable revenue.

Y. Use of Estimates
The preparation of basic financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Z. Implementation of New Accounting Pronouncements
GASB Statement No. 100, Accounting Changes and Error Corrections—an amendment of GASB Statement No. 62
This Statement defines accounting changes as changes in accounting principles, changes in accounting estimates, and changes to or within the financial reporting entity and describes the transactions or other events that constitute those changes. This Statement also prescribes the accounting and financial reporting for (1) each type of accounting change and (2) error corrections in previously issued financial statements.

This Statement did not have a material impact on the financial statements.

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June 30, 2024
AA.Upcoming New Accounting Pronouncements
The City is currently analyzing its accounting practices to identify the potential impact on the financial statements of the following GASB Statements:

GASB Statement No. 101, Compensated Absences
This Statement requires that liabilities for compensated absences be recognized for (1) leave that has not been used and (2) leave that has been used but not yet paid in cash or settled through noncash means. A liability should be recognized for leave that has not been used if (a) the leave is attributable to services already rendered, (b) the leave accumulates, and (c) the leave is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means. Leave is attributable to services already rendered when an employee has performed the services required to earn the leave. Leave that accumulates is carried forward from the reporting period in which it is earned to a future reporting period during which it may be used for time off or otherwise paid or settled. In estimating the leave that is more likely than not to be used or otherwise paid or settled, a government should consider relevant factors such as employment policies related to compensated absences and historical information about the use or payment of compensated absences. However, leave that is more likely than not to be settled through conversion to defined benefit postemployment benefits should not be included in a liability for compensated absences.

This Statement requires that a liability for certain types of compensated absences - including parental leave, military leave, and jury duty leave—not be recognized until the leave commences. This Statement also requires that a liability for specific types of compensated absences not be recognized until the leave is used. A liability for leave that has been used but not yet paid or settled should be measured at the amount of the cash payment or noncash settlement to be made. Certain salary-related payments that are directly and incrementally associated with payments for leave also should be included in the measurement of the liabilities. The requirements of this Statement are effective for fiscal years beginning after December 15, 2023, and all reporting periods thereafter.

GASB Statement No. 102, Certain Risk Disclosures
This Statement requires a government to assess whether a concentration or constraint makes the primary government reporting unit or other reporting units that report a liability for revenue debt vulnerable to the risk of a substantial impact. Additionally, this Statement requires a government to assess whether an event or events associated with a concentration or constraint that could cause the substantial impact have occurred, have begun to occur, or are more likely than not to begin to occur within 12 months of the date the financial statements are issued.

If a government determines that those criteria for disclosure have been met for a concentration or constraint, it should disclose information in notes to financial statements in sufficient detail to enable users of financial statements to understand the nature of the circumstances disclosed and the government’s vulnerability to the risk of a substantial impact. The disclosure should include descriptions for (1) the concentration or constraint (2) each event associated with the concentration or constraint that could cause a substantial impact if the event had occurred or had begun to occur prior to the issuance of the financial statements (3) actions taken by the government prior to the issuance of the financial statements to mitigate the risk. The requirements of this Statement are effective for fiscal years beginning after June 15, 2024, and all reporting periods thereafter.

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City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
GASB Statement No. 103, Financial Reporting Model Improvements This Statement is to improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability.

This Statement establishes new accounting and financial reporting requirements or modifies existing requirements related to (a) Management’s discussion and analysis (MD&A) (b) Unusual or infrequent items (c) Presentation of the proprietary fund statement of revenues, expenses, and changes in fund net position (d) Information about major component units in basic financial statements (5) Budgetary comparison information (6) Financial trend information in the statistical section. The requirements of this Statement are effective for fiscal years beginning after June 15, 2025, and all reporting periods thereafter.

NOTE 2 - CASH AND INVESTMENTS
As of June 30, 2024, cash and investments were reported in the financial statements as follows:

Governmental
Activities
Business-Type
Activities Total
Operating cash and investments $ 35,045,163 $ 2,496,898 $ 40,491 $ 37,582,552 Restricted cash held with fiscal agent 2,151,595 26,336 - 2,177,931 Total cash and investments $ 37,196,758 $ 2,523,234 $ 40,491 $ 39,760,483 Government Wide
Statement of Net Position Fiduciary Funds
Statement of Net
Position
Cash and investments consisted of the following as of June 30, 2024:

Deposits:

Cash on hand $ 2,405
Deposits with financial institutions 13,430,274
Total Deposits 13,432,679
Investments:

Local Agency Investment Fund 24,149,873
Total City Treasury 37,582,552
Debt service reserves held with fiscal agent 2,177,931
Total cash and investments $ 39,760,483
A. Cash Deposits
The California Government Code requires California banks and savings and loan associations to secure the City's cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest, and places the City ahead of general creditors of the institution. The fair value of pledged securities must equal at least 110 percent of the City's cash deposits. California law also allows institutions to secure City deposits by pledging first trust deed mortgage notes that have a value of 150 percent of the City's total cash deposits. The City has waived the collateral requirements for cash deposits which are fully insured to $250,000 by the Federal Deposit Insurance Corporation (FDIC).

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City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
The bank balances before reconciling items totaled $14,083,758 at June 30, 2024 and were different from carrying amounts due to deposits in transit and outstanding checks. The amount uninsured was $1, which was collateralized by securities held by pledging financial institutions. The City follows the practice of pooling cash and investments of all funds, except for funds required to be held by fiscal agents. Interest income earned on pooled cash and investments is allocated to the various funds based on the period-end cash and investment balances. Interest income from cash and investments with fiscal agents is credited directly to the related fund.

B. Fair Value Measurements
GASB 72 established a hierarchy of inputs to the valuation techniques with three levels:
 Level 1 inputs are quoted prices in active markets for identical assets or liabilities.  Level 2 inputs are quoted market prices for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other than quoted prices that are not observable
 Level 3 inputs are unobservable inputs, such as a property valuation or an appraisal.

The City’s investments were not subject to levelling.

C. Investment Policies
City Investment Policy
Under the provisions of the City's investment policy, and in accordance with California Government Code, the following investments are authorized:

Maximum
Maturity
Maximum
Percentage of
Portfolio
Maximum
Investment in
Portfolio
Maximum
Investment in
One Issuer
CA Local Agency Investment Fund n/a n/a $65,000,000 $65,000,000 U.S. Treasury Bonds, Notes, Bills 5 Years n/a No Limit No Limit U.S. Agency Securities 5 Years n/a No Limit No Limit
Banker's Acceptance 180 Days 30% n/a 30%
Commercial Paper 270 Days 10% n/a 10%
Certificates of Deposit 5 Years 30% n/a 10%
Negotiable Certificates of Deposit 5 Years 30% n/a 10%
Medium Term Corporate Notes 5 Years 10% n/a 10%
Derivative Securities (limited to Federal
Agency callable issues) 5 Years 10% n/a 10%
Money Market Mutual Funds n/a 5% n/a 5%
Authorized Investment Type
Total combined corporate debt (Commercial Paper and Medium-Term Notes) may not exceed 20% of the cost value of the portfolio. The City's investment policy prohibits investments in inverse floaters, range notes, or interest only strips that are derived from a pool of mortgages in accordance with California Government Code Section 53601.6. With the exception of callable Federal Agency securities, any security that derives its value from another asset or index is prohibited. In addition, the City may not invest any funds in any security that could result in zero interest accrual if held to maturity.

The City’s portfolio value fluctuates in an inverse relationship to any change in interest rate. Accordingly, if interest rates rise, the portfolio value will decline. If interest rates fall, the portfolio value will rise. The portfolio for year-end reporting purposes is treated as if it were all sold. Therefore, fund balance must reflect the portfolio’s change in value. These portfolio value changes are unrealized unless sold. Generally Agenda Packet Page 104 of 206
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June 30, 2024
the City’s practice is to buy and hold investments until maturity dates. Consequently, the City’s investments are carried at fair value.

Investment of debt proceeds held by bond trustee is governed by provisions of the debt agreements rather than the general provisions of the California Government Code or the City’s investment policy.

D. External Investment Pool
The City's investments with LAIF at June 30, 2024, include a portion of the pooled funds invested in Structured Notes and Asset-Backed Securities. These investments include the following:

Structured Notes
These are debt securities (other than asset-backed securities) whose cash flow characteristics (coupon rate, redemption amount, or stated maturity) depend upon one or more indices and/or that have embedded forwards or options.

Asset-Backed Securities
The bulk of asset-backed securities are mortgage-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 CMO's) or credit card receivables.

LAIF is overseen by the Local Agency Investment Advisory Board, which consists of five members, in accordance with State statute. The approved investments policy is listed on the LAIF website, located at http://www.treasurer.ca.gov/pmia-laif/.

E. Risk Disclosures
Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the term of an investment’s maturity, the greater the sensitivity to changes in market interest rates.

Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of an investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. As of June 30, 2024, the City’s investments were in compliance with the ratings required by the City’s investment policy and Government Code.

Concentrations of Credit Risk
The investment policy of the City contains no limitations on the amount that can be invested in any one issuer beyond that stipulated by the California Government Code. As of June 30, 2024, the City had all of its investments with the California Local Agency Investment Fund.

Custodial Credit Risk
For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The California Government Code and the City's investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for investments.

With respect to investments, custodial credit risk generally applies only to direct investments in Agenda Packet Page 105 of 206
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Notes to the Basic Financial Statements
June 30, 2024
marketable securities. Custodial credit risk does not apply to a local government's indirect investment in securities through the use of mutual funds or government investment pools (such as LAIF).

As of June 30, 2024, the City’s investments had the following maturities:
12 Months or
Less Fair Value
Fair Value
Input Levels
Min. Legal
Rating
Local Agency Investment Funds $ 24,149,873 $ 24,149,873 n/a n/a Investment Type
NOTE 3 - LOANS RECEIVABLE
Loans receivable consisted of the following as of June 30, 2024:

Loans Interest Balance
Description Receivable Receivable June 30, 2024
Low/Mod Income Housing Asset Fund:

Ohlone Gardens LP-Low and Moderate Income Housing $ 3,500,000 $ 1,221,287 $ 4,721,287 Idaho Apartments-Low and Moderate Income Housing 531,089 - 531,089 Eden Housing-Low and Moderate Income Housing 299,998 67,126 367,124 Mayfair Affordable Bridge House Loans 350,000 35,500 385,500 ECP Parcel A.S. 350,000 875 350,875
Total Low/Mod Income Housing Asset Fund 5,031,087 1,324,788 6,355,875 Nonmajor Governmental Funds:

Ohlone Gardens LP-City Housing Fund 2,860,000 - 2,860,000 Mayfair Affordable Bridge House Loans 150,000 - 150,000 Total Governmental Funds $ 8,041,087 $ 1,324,788 $ 9,365,875 Ohlone Gardens, L.P.

In fiscal year 2009, the former Redevelopment Agency entered into a predevelopment, acquisition and construction loan agreement with Ohlone Gardens, L.P. for $3,500,000 to assist with the acquisition and construction of a 57-unit affordable housing development including at least ten special needs units with appropriate supportive services and related office space. The Loan bears simple interest at the rate of 3% per year, beginning with the date of first disbursement and is repayable 55 years from the date of occupancy from residual receipts, as defined in the agreement. The Loan is secured by a deed of trust in the first position on the property. The deed of trust may subsequently be subordinated to other financing as defined in the agreement.

Predevelopment activities and acquisition of the site began in fiscal year 2009. With the dissolution of the Redevelopment Agency as discussed in Note 16, the City agreed to become the successor to the Redevelopment Agency's housing activities and as a result the Low and Moderate Income Housing Asset Fund assumed the loans receivable of the Redevelopment Agency's Low and Moderate Income Housing Fund. The developer made the final loan drawdown of $471,152 during fiscal year 2013-14.

In fiscal year 2014, the City entered into an Infill Infrastructure loan agreement with Ohlone Gardens, L.P. for $2,860,000 for the purpose of funding infrastructure work for a 57-unit affordable housing development. The Loan is contingent on the City receiving funding and approval from the California Department of Housing and Community Development Infill Infrastructure Grant Program. The Loan bears no interest and is due in one lump sum the earlier of the fifty-fifth anniversary of the final Agenda Packet Page 106 of 206
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June 30, 2024
certificate of occupancy for the project or the fifty-seventh anniversary of the date of the Loan. The Loan is secured by a deed of trust on the property that is subordinated to the 2009 loan above and to the primary construction financing.

Idaho Apartments
The former Redevelopment Agency entered into an Owner Participation Agreement for Idaho Apartments in 1997 in which the Agency agreed to make a loan to the project which included rehabilitation of the deteriorated building. At that time, the developer requested assistance to help repay a loan from a non-profit agency. In August 2000, the non-profit agency loan was replaced by another loan obtained by the developer and the Agreement was amended to reflect that fact as well as reaffirm the Agency's commitment to make a loan of up to $350,000 to repay the developer's other loan when that loan matured in 2008. The Loan bears simple interest at the rate of 2.64% per year, beginning with the date of first disbursement. No payments were due for the first ten and one- half years after the date of occupancy, which ended on December 9, 2009. Subsequent to that date, the loan is repayable from residual receipts, as defined in the Agreement. The Loan is secured by a subordinated deed of trust in the third position on the property. The Agency disbursed $350,000 to the developer during the year ended June 30, 2009. With the dissolution of the Redevelopment Agency, the City agreed to become the successor to the Redevelopment Agency's housing activities and as a result the Low and Moderate Income Housing Asset Fund assumed the loans receivable of the Redevelopment Agency's Low and Moderate Income Housing Fund. The Loan was recast in December 2017 and all previous interest accrued was added to the loan balance.

Eden Housing, Inc.

In May 2011, the former Redevelopment Agency entered into a predevelopment loan agreement with Eden Housing, Inc., for $350,000 to assist with predevelopment costs related to the development of a mixed use affordable housing development at Agency owned property. With the dissolution of the Redevelopment Agency as discussed in Note 15, the City agreed to become the successor to the Redevelopment Agency's housing activities and as a result the Low and Moderate Income Housing Asset Fund assumed the loans receivable of the Redevelopment Agency's Low and Moderate Income Housing Fund. The loan bears simple interest at the rate of 3% per year, beginning with the date of first disbursement and is due and payable upon the second anniversary of the execution date, unless the City and the developer enter into a disposition and development agreement (DDLA). The Loan is secured only by a promissory note, as it is City owned property. Should the developer take title to the subject property, the loan will then be secured by a deed of trust on the property.

In April 2014, the City entered into a DDLA with Eden Housing, Inc., that involves the sale of the property as discussed in Note 1H, as well as a new loan agreement that replaced the original agreement.

In 2017, the City transferred the two parcels to Eden Housing Inc, a nonprofit, and loaned the developer $300,000 to be paid off in 55 years at a rate of 3% from the date of issuance of the certificate of occupancy from residual receipts, as defined in the agreement.

Predevelopment activities began in fiscal year 2011, and the developer has drawn down $299,999 of the loan and $50,001 remains available for drawdown.

Mayfair Affordable Bridge House Loans
On January 1, 2020, The City of El Cerrito entered into a predevelopment, acquisition and construction loan agreement with Mayfair Affordable LLC, for 350,000 to assist with the construction of 67 affordable residential housing units on certain real property located at 11690 El Cerrito Project Area.

The Loan bears simple interest at the rate of 3% per year beginning with the date of first disbursement Agenda Packet Page 107 of 206
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June 30, 2024
and is repayable 55 years from the date of issuance of the certificate of occupancy from residual receipts, as defined in the agreement.

El Cerrito Plaza: Parcel A-South, 515 Richmond Street
On March 6, 2024, the City entered a Loan Agreement with ECP Parcel A South Housing Partners, LP, for $350,000 to assist with the construction of 70 affordable residential housing units on certain real property located at 515 Richmond Street. The loan bears simple interest at the rate of 3% per year beginning with the date of first disbursement and is repayable 55 years from the date of issuance of the certificate of occupancy from residual receipts, as defined in the agreement.

Mayfair Affordable: 11690 San Pablo Avenue
On June 1, 2024, the City entered a Loan Agreement with Mayfair Affordable LLC, for $500,000 to assist with the construction of 69 affordable residential housing units on certain real property located at 11690 San Pablo Avenue. El Cerrito Project Area. The funding source for this loan originated from the HUD HOPE VI Main Street Grant Program, awarded to the City in 2021. The loan bears simple interest at the rate of 3% per year beginning with the date of first disbursement and is repayable 55 years from the date of issuance of the certificate of occupancy from residual receipts, as defined in the agreement..

NOTE 4 - INTERFUND TRANSACTIONS
Inter-fund Receivables and Payables
Amounts due to or due from other funds reflect inter-fund balances for services rendered or short-term loans expected to be repaid in the next fiscal year. Advances to or from other funds are long-term loans between funds that are to be repaid in their entirety over several years. As of June 30, 2024, there were no inter-fund receivables and payables to report.

Transfers In/Out
With Council approval resources may be transferred from one fund to another. Transfers from the General Fund to the Debt Service Fund were to regular debt service activity of the City. Transfers from the General Fund to other governmental funds were to provide funding to repair and replacement funds and to provide funding for City programs. Transfers made from the Wastewater Enterprise Fund to the Debt Service Funds were to provide for debt service requirements.

The following summarizes transfers between funds during the fiscal year ended June 30, 2024:

Fund Transfer in Transfer out
General Fund $ 3,671 $ 3,702,980
Street Improvement Fund - 707,100
Capital Improvement Fund 3,121,431 -
Nonmajor Funds 1,302,693 94,000
Integrated Waste Management Enterprise Fund - 3,671
Vechicle/Equip Replacement Internal Service Fund 79,956 - Total Transfers $ 4,507,751 $ 4,507,751
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June 30, 2024
NOTE 5 - CAPITAL ASSETS
Capital assets for governmental activities consisted of the following as of June 30, 2024:

Balance Deletions/ Balance
Governmental Activities June 30, 2023 Additions Transfers June 30, 2024 Non-depreciable:

Land $ 5,191,639 $ 1,600,526 $ - $ 6,792,165
Construction in Progress 4,334,851 3,973,025 (2,058,868) 6,249,008 Total Non-Depreciable 9,526,490 5,573,551 (2,058,868) 13,041,173 Depreciable and amortizable:

Buildings and improvements 27,463,510 - (404,763) 27,058,747 Equipment and vehicles 6,404,496 150,000 55,202 6,609,698 Infrastructure 88,122,931 - 1,997,972 90,120,903
Total Depreciable and Amortizable 121,990,937 150,000 1,648,411 123,789,348 Less Accumulated Depreciation and
Amortization for:

Buildings and improvements (11,198,265) (686,613) 343,178 (11,541,700) Equipment and vehicles (5,892,585) (257,209) 117,929 (6,031,865) Infrastructure (47,074,707) (2,746,585) 1 (49,821,291)
Total Accumulated Deprec. And Amort. (64,165,557) (3,690,407) 461,108 (67,394,856) Total Deprec/Amort Capital Assets - Net 57,825,380 (3,540,407) 2,109,519 56,394,492 Total Governmental Capital Assets $ 67,351,870 $ 2,033,144 $ 50,651 $ 69,435,665 Depreciation and amortization expense for governmental activities:

General government $ 346,516
Public works 2,822,924
Recreation 350,582
Community development 7,958
Public safety 162,427
Total depreciation and amortization expense $ 3,690,407 Capital assets for business-type activities consisted of the following as of June 30, 2024:

Balance Deletions/ Balance
Business Type Activities June 30, 2023 Additions Transfers June 30, 2024 Depreciable:

Buildings and improvements 3,495,683 - - 3,495,683
Equipment and vehicles 2,145,995 - - 2,145,995
Total Depreciable 5,641,678 - - 5,641,678
Less Accumulated Depreciation
Buildings and improvements (715,547) (69,504) - (785,051) Equipment and vehicles (1,399,684) (109,988) - (1,509,672) Total Accumulated Depreciation (2,115,231) (179,492) - (2,294,723) Total Depreciable Capital Assets - Net 3,526,447 (179,492) - 3,346,955 Total Business Type - Capital Assets $ 3,526,447 $ (179,492) $ - $ 3,346,955 Agenda Packet Page 109 of 206
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June 30, 2024
NOTE 6 - NONCURRENT LIABILITIES
The City's noncurrent liabilities consisted of the following as of June 30, 2024:

Due
Balance Adjustments/ Balance Within One
Governmental Activities June 30, 2023 Additions Deletions June 30, 2024 Year 2017 Lease Revenue Bonds $ 5,570,000 $ - $ 320,000 $ 5,250,000 $ 330,000 2017 Sales Tax Revenue Refunding 6,630,000 - 380,000 6,250,000 360,000 Financed Purchases:
2023 Chevy Tahoe Lease 146,255 - 49,815 96,440 53,594
2022 Fire Engine 1,046,892 - 101,635 945,257 105,028
Solar Photovoltaic 548,716 - 116,176 432,540 119,393
2019 Vehicles - Dell Financial 39,285 - 39,285 - -
Total Debt 13,981,148 - 1,006,911 12,974,237 968,015
2017 Lease Revenue Bonds Premium 484,195 - 108,374 375,821 - 2017 Sales Tax Revenue Refunding Premium 1,061,642 - 347,215 714,427 - Total Premiums 1,545,837 - 455,589 1,090,248 -
Total Long-Term Debt 15,526,985 - 1,462,500 14,064,485 968,015 Net Pension Liabilities 79,526,924 39,710,652 38,497,537 80,740,039 - Compensated Absences 1,716,023 2,315,716 2,157,236 1,874,503 1,218,427 Total Long-Term Liabilities $ 96,769,932 $ 42,026,368 $ 42,117,273 $ 96,679,027 $ 2,186,442 Due
Balance Balance Within One
Business-Type Activities June 30, 2023 Additions Deletions June 30, 2024 Year 2012 Recycling Facility Revenue Ref. Bonds $ 741,400 $ - $ 291,200 $ 450,200 $ 298,300 Financed Purchase - Side Loader Trucks 161,352 - 83,457 77,895 77,895 Financed Purchase - Rear Loader 423,989 - 78,901 345,088 81,788 Total Financed Purchases 1,326,741 - 453,558 873,183 457,983 Net Pension Liabilities - 5,068,100 1,567,110 3,500,990 - Compensated Absences 61,662 46,623 32,310 75,975 48,659 Total Long-Term Liabilities $ 1,388,403 $ 5,114,723 $ 2,052,978 $ 4,450,148 $ 506,642 A. Governmental Activities
2017 Lease Revenue Refunding Bonds
On May 26, 2017, the City of El Cerrito issued Lease Revenue Refunding Bonds, Series 2017, in the original principal amount of $7,040,000 at 2%-5% interest to provide for the refunding of the City's outstanding 2006 City Hall Lease Revenue Bonds. Principal payments are due annually on September 1, with interest payments payable semi-annually on January 15 and July 15 through January 15, 2036. The economic gain on refunding was $435,000, and the refunding resulting in the recognition of an accounting deferred gain on refunding of $178,732.
2017 Sales Tax Revenue Bonds
On January 25, 2017, the City of El Cerrito issued $8,650,000 original principal amount of 2017 Sales Tax Revenue Bonds at 2%-5% interest to provide for the refunding of the City’s outstanding 2008 Sales Tax Revenue Bonds. Principal payments are due annually on May 1, with interest payments payable semi-annually on May 1 and November 1 through May 1, 2036. Street improvement sales tax revenues are pledged for the repayment of these Bonds, until the Bonds mature. If sales tax revenues are insufficient to pay the annual principal and interest payments on the bonds the City has covenanted to use General Fund revenues. For fiscal year 2024, pledged sales tax revenues amounted to 2,154,278 which represented coverage of 256% over the debt service of $707,700. The economic gain on refunding was Agenda Packet Page 110 of 206
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June 30, 2024
$525,000, and the refunding resulting in the recognition of an accounting deferred loss on refunding of $514,127.

Financed Purchase - 2023 Chevy Tahoe Lease
On May 23, 2023, the City entered into a purchase agreement in the amount of $150,000 at less than 1% interest with LeaseExperts to finance the purchase of a 2023 Chevy Tahoe. Principal and interest payments of $4,907 are due each month until March 2026.

Financed Purchase - 2022 Fire Engine Purchase
On April 19, 2022, the City entered into a purchase agreement in the amount of $1,145,241 at 3.34% interest with First Capital Leasing Corp. to finance the purchase of a fire engine. Annual principal and interest payments of $136,590 are due each May.

Financed Purchase - Solar Photovoltaic
On December 5, 2012, the City entered into a purchase agreement in the amount of $1,595,300 at 2.75% interest with Green Campus Partners, LLC, to finance the purchase and installation of six solar photovoltaic electricity generation systems at six different sites in the City. Semiannual principal and interest payments of $65,236 are due each December 1 and June 1 through December 1, 2027.

Financed Purchase - 2019 Vehicles - Dell Financial
On August 1, 2019, the City entered into an equipment purchase agreement in the amount of $187,346 at

4.70% interest with Dell Financial services to finance the purchase of a New 2018 Braun Paratransit Van.

Annual principal and interest payments of $22,551.53 are due starting August 1, 2019 through August 1, 2023.

B. Business-Type Activities
2012 Recycling Facility Revenue Refunding Bonds
On September 19, 2012, the El Cerrito Public Financing Authority issued Recycling Facility Revenue Refunding Bonds in the original principal amount of $3,405,600 at 2.36% interest to provide for the refunding and retirement of the City's outstanding Recycling Center Lease Purchase Agreement and related Site Lease. Principal and interest payments are due quarterly on July 1, October 1, January 1, and April 1, through October 1, 2025. Repayment of these bonds is from charges for services received by the Integrated Waste Management Enterprise Fund.

Financed Purchase - Side Loader Trucks
On January 19, 2018, the City entered into an equipment purchase agreement in the amount of $551,498 at 2.887% interest with Capital One Public Funding, LLC, to finance the purchase of two trash trucks.

Semiannual principal and interest payments of $43,790 are due each July and January 19, through January 19, 2025.

Financed Purchase - Rear Loader Trucks
During the 2021-22 fiscal year, the City entered into an equipment purchase agreement in the amount of $500,216 at 3% interest with Capital One Public Funding, LLC, to finance the purchase of two rear loading trucks. Annual principal and interest payments of $94,006 are due each March through fiscal year 2026.

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June 30, 2024
C. Other Noncurrent Liabilities
Compensated Absences
Compensated absences comprise of unpaid vacation and are accrued as earned. The City’s liability for compensated absences is recorded in various governmental funds only if they have matured. The liability for compensated absences is determined annually. The long-term portion of governmental activities compensated absences is liquidated primarily by the general fund.

Net Pension Liability
See Note 8 for pensions.

D. Debt Service Requirements
The following summarizes the City’s debt service requirements:

Year Ending Principal Interest Principal Interest
June 30 Payments Payments Payments Payments
2025 $ 998,015 $ 603,000 $ 457,983 $ 9,869
2026 1,029,081 556,212 236,585 1,386
2027 1,043,255 510,120 87,685 -
2028 1,020,255 462,634 90,930 -
2029 999,774 415,879 - -
2029-2033 5,488,857 1,315,477 - -
2034-2037 2,395,000 160,625 - -
Total $ 12,974,237 $ 4,023,947 $ 873,183 $ 11,255
Governmental Activities Business-Type Activities
NOTE 7 - RETIREMENT PLANS
General Information about the Pension Plans
Plan Description
All qualified permanent and probationary employees are eligible to participate in the Public Agency CostSharing Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’ Retirement System (CalPERS). The Plan consists of individual rate plans (benefit tiers) within a safety risk pool (police and fire) and a miscellaneous risk pool (all other.) Plan assets may be used to pay benefits for any employer rate plan of the safety and miscellaneous risk pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under GASB Statement No. 68.

Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The City sponsors three miscellaneous rate plans. 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.

Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full-time employment. Members with five years of total service are Agenda Packet Page 112 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
eligible to retire at age 55 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. The death benefit is one of the following: the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost-of-living adjustments for each plan are applied as specified by the Public Employee’s Retirement Law. The general fund typically is used to liquidate pension liabilities for governmental funds.

The Plans’ provisions and benefits in effect at June 30, 2024, are summarized as follows:

Classic PEPRA Classic PEPRA
Hire date Before 1/1/2012 1/1/2012 Before 1/1/2013 1/1/2013 Benefit formula 2.7% @ 55 2% @ 62 3% @ 50 2.7% @ 57
Benefit vesting schedule 5 Years 5 Years 5 Years 5 Years Benefit payments Monthly for Life Monthly for Life Monthly for Life Monthly for Life Retirement age 50-55 52-67 50 50-57
Monthly benefits as a % of eligible compensation 2% to 2.7% 1% to 2.5% 3% 2% to 2.7% Required employee contribution rates 8.00% 7.75% 9.00% 13.75% Required employer contribution rates 15.95% 7.68% 27.11% 13.54% Miscellaneous Safety
Employees Covered
At June 30, 2024, the following employees were covered by the benefit terms for the Plans:

Miscellaneous Safety Total
Active 91 62 153
Transferred 75 53 128
Separated 103 22 125
Retired 168 145 313
Total 437 282 719
Contributions
Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rates are the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. For the year ended June 30, 2024, the City’s contributions were as follows:

Miscellaneous $ 2,834,556
Safety 6,510,917
Total Employer Contributions $ 9,345,473
Agenda Packet Page 113 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions
As of June 30, 2024, the City reported a net pension liability for its proportionate share of the net pension liability of the Plan as follows:

Governmental
Activities
Business-Type
Activities Total
Miscellaneous $ 20,958,509 $ 3,500,990 $ 24,459,499
Safety 59,781,530 - 59,781,530
Total Net Pension Liability $ 80,740,039 $ 3,500,990 $ 84,241,029 The City’s net pension liability for the Plans is measured as the proportionate share of the net pension liability. The net pension liability of the Plans are measured as of June 30, 2023, and the total pension liability for the Plans used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2022 rolled forward to June 30, 2023 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 plans relative to the projected contributions of all participating employers, actuarially determined. The City’s proportionate share of the net pension liability for the Plans as of June 30, 2023 and 2024 was as follows:

Proportion
June 30, 2023 0.6885%
June 30, 2024 0.6753%
Change in Proportions -0.0132%
For the year ended June 30, 2024, the City recognized pension expense of $11,413,530.

At June 30, 2024, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
$ 2,834,556 $ - $ 6,510,917 $ -
Changes in assumptions 1,476,730 - 3,488,930 -
1,249,523 193,831 4,389,066 375,751
- 1,958,373 - 275,131
542,217 - 1,072,387 959,479
3,960,213 - 8,181,086 -
$ 10,063,239 $ 2,152,204 $ 23,642,386 $ 1,610,361
Pension contributions subsequent to measurement date
Differences between expected and actual experiences
Change in employer's proportion
Miscellaneous Safety
Net differences between the employer's contributions
the employer’s proportionate share of contributions
Net differences between projected and actual earnings
on plan investments
Total
The City reported $12,141,299 as deferred outflows of resources related to contributions subsequent to the measurement date that will be recognized as a reduction of the net pension liability in the year ended June 30, 2025.

Agenda Packet Page 114 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Fiscal Year Ending: Misc Safety Total
2025 $ 1,615,819 $ 4,380,928 $ 5,996,747
2026 1,191,983 3,156,474 4,348,457
2027 2,155,042 7,755,357 9,910,399
2028 113,635 228,349 341,984
2029 - - -
Thereafter - - -
Total $ 5,076,479 $ 15,521,108 $ 20,597,587
Net Deferred Outflows (Inflows) of Resources
Actuarial Assumptions
The total pension liabilities in the June 30, 2022 actuarial valuations were determined using the following actuarial assumptions:

Valuation Date June 30, 2022
Measurement Date June 30, 2023
Actuarial Cost Method Entry-Age Normal Cost
Method
Actuarial Assumptions:

Discount Rate 6.90%
Inflation 2.30%
Payroll Growth 2.75%
Projected Salary Increase (1)
Investment Rate of Return 6.90% (2)
Mortality (3)
(1) Varies by age and service
(2) Net of pension plan investment expenses, including inflation (3) Derived using CalPERS' membership data for all funds Discount Rate
The discount rate used to measure the total pension liability was 6.9 percent for the Plan. To determine whether the municipal bond rate should be used in the calculation of a discount rate for the Plan, CalPERS stress tested plans that would most likely 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 6.9 percent discount rate is adequate and the use of the municipal bond rate calculation is not necessary. The long-term expected discount rate of 6.9 percent 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. The long-term expected rate of return on pension plan investments was determined using a building block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Using historical Agenda Packet Page 115 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
returns of all the funds’ asset classes, expected compound returns were calculated over the short-term (first 10 years) and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and longterm returns. The expected rate of return was then set equivalent to the single equivalent rate calculated above and rounded down to the nearest one quarter of one percent. The table below reflects the longterm 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.

New
Strategic Real Return
Asset Class Allocation Years 1 - 10 (a)
Global equity - cap-weighted 30.00% 4.45%
Global equity non-cap-weighted 12.00% 3.84%
Private Equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed Securities 5.00% 0.50%
Investment Grade Corporates 10.00% 1.56%
High Yield 5.00% 2.27%
Emerging Market Debt 5.00% 2.48%
Private Debt 5.00% 3.57%
Real assets 15.00% 3.21%
Leverage -5.00% -0.59%
Total 100.00%
(a) In the System's ACFR, Fixed Income is included in Global Debt Securities; Liquidity Liquidity is included in Short-term Investments; Inflation Assets are included in both Global Equity Securities and Global Debt Securities.
(b) An expected inflation of 2.30% used for this period.

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 Plans, calculated using the discount rate for the Plans, 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:

Misc Safety Total
1% Decrease 5.90% 5.90% 5.90%
Net Pension Liability $ 34,269,499 $ 84,055,657 $ 118,325,156 Current Discount Rate 6.90% 6.90% 6.90%
Net Pension Liability $ 24,459,499 $ 59,781,530 $ 84,241,029 1% Increase 7.90% 7.90% 7.90%
Net Pension Liability $ 16,385,026 $ 39,935,703 $ 56,320,729 Agenda Packet Page 116 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
Pension Plan Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports. See https://www.calpers.ca.gov/page/investments/about-investmentoffice/investment-financial-reports?stream=top.

NOTE 8 - COMMITMENTS AND CONTINGENCIES
Litigation
The City is subject to certain matters of litigation that may arise in the normal course of conducting City business. City management believes, based upon consultation with legal counsel, that these cases, in the aggregate, are not expected to result in a material adverse financial impact on the City. Additionally, City management believes that the City's insurance programs are sufficient to cover any potential losses should an unfavorable outcome materialize.

Federal and State Grant Programs
The City participates in Federal and State grant programs. These programs are audited by the City's independent accountants if required by and in accordance with the provisions of the Uniform Guidance and applicable State requirements. For Federal programs, the City did not reach the level of qualifying expenditures during the current fiscal year that would require a single audit. Expenditures which may be disallowed, if any, by the granting agencies, cannot be determined at this time. The City expects such amounts, if any, to be immaterial.

Encumbrances
The City uses an encumbrance system as an extension of normal budgetary accounting for governmental funds. Under this system, purchase orders, contracts, and other commitments for the expenditure of monies are recorded in order to reserve that portion of applicable appropriations.

Encumbrances outstanding at year-end are recorded as restricted, committed or assigned fund balance, depending on the classification of the resources to be used to liquidate the encumbrance, since they do not constitute expenditures or liabilities. Outstanding encumbrances at year-end are reappropriated for the following year. Unencumbered and unexpended appropriations lapse at year end.

Encumbrances outstanding as of June 30, 2024 totaled $12.95 million, which included $11 million for the Del Norte streets project.

NOTE 9 - REDEVELOPMENT AGENCY DISSOLUTION AND SUCCESSOR AGENCY

ACTIVITIES
Summary
In an effort to balance its budget, the State of California adopted ABxl 26 on June 28, 2011, amended by AB1484 on June 27, 2012, which suspended all new redevelopment activities as of that date and dissolved redevelopment agencies effective February 1, 2012. In 2011, the City elected to serve as the former El Cerrito Redevelopment Agency’s Successor Agency to manage and wind down the affairs and obligations of the former Redevelopment Agency. Certain housing assets of the Redevelopment Agency were distributed to the City acting as the housing successor. All remaining Redevelopment Agency liabilities, debts and obligations were transferred to the Successor Agency.

In addition, ABxl 26 and AB1484 directed the State Controller to review the activities of all redevelopment agencies and successor agencies to determine whether an asset transfer between an agency and any public agency occurred on or after January 1, 2011. If an asset transfer did occur and the public agency that received the asset is not contractually committed to a third party for the expenditure Agenda Packet Page 117 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
or encumbrance of the asset, the legislation purports to require the State Controller to order the asset returned to the redevelopment agency. The State Controller's Office completed its asset transfer review of the former Agency and released its final report in July 2014. The final report indicates the former Redevelopment Agency made unallowable transfers to the Municipal Services Corporation in fiscal years 2011 and 2012 totaling $12,550,551, consisting of cash of $2,382,232, land held for redevelopment of $4,634,789 and capital assets of $5,533,530. The City, Successor Agency and Corporation disagreed with the funding of the asset transfer review and maintained that the transactions in question between the former El Cerrito Redevelopment Agency and the Municipal Services Corporation were valid.

The activities of the Successor Agency are reported in the El Cerrito Redevelopment Agency Successor Agency Private-Purpose Trust Fund. The City provides administrative services to the Successor Agency to wind down the affairs of the former Redevelopment Agency. The Successor Agency’s Recognized Obligations Payment Schedule (ROPS) was reviewed until 2018 by a local Oversight Board. The local Oversight Board was dissolved in 2018 and was replaced by a countywide Oversight Board.

Commitments and Contingencies
Cooperation Agreement with the El Cerrito Municipal Services Corporation Prior to dissolution of the El Cerrito Redevelopment Agency, the Agency entered into a Cooperation Agreement with the City that was subsequently assigned to the El Cerrito Municipal Services Corporation (MSC). Under the terms of the Agreement, the Agency transferred to the MSC certain properties and funds to be used for redevelopment purposes and the Agency also agreed to provide funds to the MSC in the future in return for the MSC completing redevelopment activities. The Successor Agency has listed the Cooperation Agreement on its Recognized Obligation Payment Schedule, which have been approved by the Oversight Board. However, no post-dissolution payments have been made since the State Department of Finance has consistently denied that this Cooperation Agreement is an enforceable obligation of the Successor Agency.

State Approval of Enforceable Obligations
The Successor Agency prepares a Recognized Obligation Payment Schedule (ROPS) semi- annually that contains all proposed expenditures for the subsequent six-month period. The ROPS is subject to the review and approval of the Oversight Board as well as the State Department of Finance. Although the State Department of Finance may not question items included on the ROPS in one period, they may question the same items in a future period and disallow associated activities. The amount, if any, of current obligations that may be denied by the State Department of Finance cannot be determined at this time.

State Asset Transfer Review
The State Controller's Office conducted a review of the propriety of asset transfers between the former Redevelopment Agency or the Successor Agency and any public agency that occurred on or after January l, 2011. The State Controller's Office completed its asset transfer review of the former Agency and released its final report in July 2014. The final report indicated the former Redevelopment Agency made unallowable transfers to the Municipal Services Corporation in fiscal years 2011 and 2012 totaling $12,550,551, consisting of cash of $2,382,232, land held for redevelopment of $4,634,789 and capital assets of $5,533,530. These transfers were deemed unallowable by the Department of Finance, disputed by the City, Successor Agency and Corporation, and subject to litigation. In 2015, the Successor Agency received a "finding of completion" from the Department of Finance confirming that the Successor Agency had fulfilled its requirement to pay back the unallowable cash transfers by entering into an Installment Payment Plan thereby entitling the Successor Agency to prepare a Long-Range Property Agenda Packet Page 118 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
Management Plan (LRPMP) for Oversight Board and DOF approval. Also, in 2015 the Successor Agency prepared the LRPMP which was approved by the DOF directing the properties be transferred back to the City for disposition and development. In fiscal year 2019, consistent with the approved LRPMP, the City entered into a Compensation Agreement with each of the Affected Taxing Entities as required by the approved LRPMP. Per the Compensation Agreement the City sold the Mayfair block and Eastshore block and Potrero properties for development, at Fair Market Value or Fair Reuse Value.

The net proceeds were distributed by the Auditor-Controller to the Taxing Entities in proportion to their shares of the Base Property Tax less any outstanding amount of enforceable obligation related to the properties.

Due Diligence Reviews
AB1484 required the Successor Agency to complete two Due Diligence Reviews (DDR) to determine the amount of the remaining assets that should be transferred by the City to the Successor Agency or by the Successor Agency to the County for distribution to the affected taxing entities.

In April 2013, the State Department of Finance (DOF) completed its review of the DDR of the Low and Moderate Housing Fund's cash balance available for allocation to the affected taxing entities. The DDR indicated the Successor Agency had no unencumbered balances in the Low and Moderate Income Housing Fund for distribution to the affected taxing entities In June 2013, the DOF completed its review of the DDR of all other funds of the former Redevelopment Agency. The DDR indicated there were no assets available for allocation to the affected taxing entities, but that amount was adjusted by the DOF to $1,981,989. In addition, the DOF demanded the City reverse $10,168,319 of property conveyances executed in fiscal year 2012 and a payment of $400,243 of bond proceeds to the Corporation.

The City, Successor Agency and Corporation disputed the adjustments and demand and filed suit against the DOF and the Contra Costa County Auditor Controller challenging the DOF's adjustments to the DDR and other demands. On September 3, 2014, the Court ruled against the City, Successor Agency and Corporation regarding the transfers and the cooperation agreement. The City, Successor Agency and Corporation appealed the decision. Thereafter, as described above, in September 2015, the City, Successor Agency, and DOF entered into an Installment Payment Plan Agreement for the repayment of the OFA DDR amounting to $1,981,989 and the total amount of cash that the DOF claimed was owed was fully paid in 2018.

The Court of Appeals heard oral arguments on January 19, 2021 and subsequently denied the appeal. The City decided not to litigate any further and as a result, the City wrote off the General Fund Advance to the Successor Agency in the amount of $1,321,189.

Long-term Liabilities
The Successor Agency assumed the long-term debt, notes and loans of the Redevelopment Agency as of February 2012.

As of June 30, 2024, the Successor Agency’s long-term liabilities included the following long-term debt:

Due
Balance Balance Within One
Successor Agency Debt June 30, 2023 Additions Deletions June 30, 2024 Year 2016 Revenue Refunding Bond $ 5,112,884 $ - $ 2,006,975 $ 3,105,909 $ 2,057,667 Agenda Packet Page 119 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
2016 Refunding Tax Allocation Bonds
On August 3, 2016, the Successor Agency to the El Cerrito Redevelopment Agency issued Series 2016 Tax Allocation Refunding Bonds in the amount of $12,330,710. The proceeds from the bonds were used to refund the Series 1997A Tax Allocation Refunding Bonds and Series 2004 A and B Tax Allocation Bonds. Bonds issued in the amount of $8,979,727 are tax-exempt. The economic gain on refunding was $83,000, and the deferred amount resulting from the refunding was considered to be immaterial to the financial statements and expensed during the year. Debt service requirements are summarized as follows:

Year Ending Principal Interest
June 30 Payments Payments Total
2025 $ 2,057,667 $ 65,127 $ 2,122,794
2026 1,048,242 13,155 1,061,397
Total $ 3,105,909 $ 78,282 $ 3,184,191
NOTE 10 - RISK MANAGEMENT
Municipal Pooling Authority (MPA)
The City is a member of the Municipal Pooling Authority of Northern California. The Authority provides coverage against the following types of loss risks under the terms of a joint-powers agreement with the City and several other cities and governmental agencies as follows:

Type of Coverage Limits
Liability ($5,000) $ 34,000,000
Vehicle - Physical Damage ($3,000 for police vehicles $2,000 for all others) $ 250,000 Worker's Compensation (no deductible) Stat. Limit
Property:

All Risk ($25,000) $ 1,000,000,000
Flood* $ 25,000,000
Boiler & Machinery ($10,000)** $ 100,000,000
Cyber Liability ($50,000) $ 2,000,000
Public Entity Pollution Liability ($100,000) $ 2,000,000 Government Crime Policy ($2,500) $ 5,000,000
* $100,000 minimum deductible per occurrence, except Zone A & V which are subject to a $250,000 deductible per occurrence **Depending on size/power of boiler or machinery.

The Authority is governed by a Board consisting of representatives from member municipalities. The Board controls the operations of the MPA, including selection of management and approval of operating budgets, independent of any influence by member municipalities beyond their representation on the Board.

The City's deposits with the MPA are in accordance with formulas established by the MPA. Actual surpluses or losses are shared according to a formula developed from overall loss costs and spread to member entities on a percentage basis after a retrospective rating. Audited financial statements for the Authority are available from MPA, 1911 San Miguel Drive, Suite 200, Walnut Creek, CA 94596.

Agenda Packet Page 120 of 206
City of El Cerrito
Notes to the Basic Financial Statements
June 30, 2024
Equipment
The City has a commercial insurance policy which provides physical loss or damage coverage, for certain fire trucks, refuse trucks and other similar equipment, up to a maximum of $5,438,780. The City has a deductible or uninsured liability of $5,000 to $50,000 per claim, depending on the equipment insured.

Liability for Uninsured Claims
The City provides for the uninsured portion of claims and judgments, including a provision for claims incurred but not reported when a loss is deemed probable of assertion and the amount of the loss is reasonably determinable.

There were no material unpaid and uninsured claims outstanding at the beginning or end of the last two fiscal years. Settlements have no exceeded insurance in the past three fiscal years.

NOTE 11 - PRIOR PERIOD ADJUSTMENTS – ACCOUNTING CHANGES AND

CORRECTIONS
As of June 30, 2024, the City increased beginning net position in its governmental activities by $2,161,131 and decreased beginning net position by $2,161,131 in its business-type activities of the government-wide statement of activities to reflect a change in the application of accounting policies and related estimates as of June 30, 2024.

In addition, the City corrected beginning net position by $150,619 in its Vehicle and Equipment Replacement internal services fund to properly account for depreciable capital assets.

Agenda Packet Page 121 of 206

REQUIRED SUPPLEMENTARY

INFORMATION
Agenda Packet Page 122 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual (GAAP Basis)
General Fund
For the Year Ended June 30, 2024
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Taxes and assessments $ 32,892,830 33,892,830 $ 35,847,684 $ 2,954,854 $ Licenses and permits 1,054,618 1,284,618 1,272,849 (11,769) Fines and forfeitures 120,000 145,000 231,231 86,231
Intergovernmental 5,103,092 5,103,092 5,234,450 131,358 Use of money and property 277,242 278,742 667,457 388,715 Charges for Services 7,807,310 8,663,262 8,594,094 (69,168) Other Revenue 270,000 311,748 272,138 (39,610)
Total Revenues 48,679,292 48,525,092 52,119,903 3,440,611

EXPENDITURES
Current:

General government 7,245,870 8,069,637 7,587,389 482,248 Public works 2,460,423 2,827,046 2,615,288 211,758
Recreation 6,005,416 6,524,937 6,120,140 404,797
Community development 3,799,601 4,892,425 4,267,261 625,164 Public Safety 27,956,083 28,537,232 27,693,105 844,127
Capital outlay 99,503 232,720 156,776 75,944
Debt service
Principal retirement 131,766 131,766 205,276 (73,510)
Interest and fiscal charges 154,160 154,160 25,506 128,654 Total Expenditures 51,369,923 47,852,822 48,670,741 2,699,182 Excess (Deficiency) of Revenues over Expenditures 672,270 (2,690,631) 3,449,162 6,139,793

OTHER FINANCING SOURCES (USES)
Transfers in 3,671 3,671 3,671 -
Transfers out (3,622,194) (582,763) (3,702,980) (80,786) Total Other Financing Sources (Uses) (3,618,523) (579,092) (3,699,309) (80,786) Net Change in Fund Balance (6,309,154) 93,178 (250,147) 6,059,007 Fund Balance Beginning 23,143,081 23,143,081 23,143,081 - Prior Period Corrections 404 404 404 -
Fund Balance Beginning, as Adjusted 23,143,485 23,143,485 23,143,485 - Fund Balance Ending $ 23,236,663 $ 16,834,331 $ 22,893,338 $ 6,059,007 Annually, the City Manager submits to the City Council a proposed operating budget in June for the following fiscal year, as required by the City's budget ordinance. This budget includes proposed expenditures and the revenues expected to finance them.

As modified during public study sessions, the preliminary budget becomes the proposed budget. Public hearings are conducted to obtain taxpayer comments and the budget is legally enacted through passage of a resolution. The City Manager is authorized to transfer budgeted amounts within departments within funds. In addition, amendments that are made to authorize spending of increased or new special purpose revenues may be approved by the City Manager. Budget modifications between funds or increases or decreases to a fund's overall budget must be approved by the City Council. The legal level of budgetary control is at the fund level. Budgets are adopted on a basis consistent with generally accepted accounting principles. Unexpended appropriations lapse at year end and must be reappropriated in the following year. Budgeted amounts are as originally adopted, or as amended by the City Council. Expenditures in excess of appropriations were covered by budgets in other objects/functions or beginning fund balance.

Agenda Packet Page 123 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual (GAAP Basis)
Low/Mod Income Housing Asset Special Revenue Fund
For the Year Ended June 30, 2024
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Use of money and property $ 164,800 164,800 $ 39,928 $ (124,872) $ Total Revenues 164,800 164,800 39,928 (124,872)

EXPENDITURES
Current:

Community development 207,528 207,528 18,240 189,288
Total Expenditures 207,528 207,528 18,240 189,288
Net Change in Fund Balance (42,728) (42,728) 21,688 64,416 Fund Balance Beginning 5,260,264 5,260,264 5,260,264 -
Prior Period Adjustments - deferred loans - - - -
Fund Balance Beginning, as Adjusted 5,260,264 5,260,264 5,260,264 - Fund Balance Ending $ 5,217,536 $ 5,217,536 $ 5,281,952 $ 64,416 Agenda Packet Page 124 of 206
City of City of El Cerrito
Schedule of Pension Contributions
June 30, 2024
(Last Ten Years)
Fiscal Year 2015 2016 2017 2018 2019
Contractually Required Contributions $ 601,837 $ 4,587,279 $ 5,112,607 $ 5,707,962 $ 6,351,717 Contributions in Relation to Actuarially
Determined Contributions 601,837 4,587,279 5,112,607 5,707,962 6,353,342 Contribution Deficiency (Excess) $ - $ - $ - $ - $ (1,625) Covered Payroll $ 14,363,735 $ 14,674,532 $ 15,809,206 $ 16,978,389 $ 17,236,142 Contributions as a Percentage
of Covered Payroll 4.19% 31.26% 32.34% 33.62% 36.86%
Fiscal Year 2020 2021 2022 2023 2024
Contractually Required Contributions $ 7,194,477 $ 7,713,430 $ 8,248,423 $ 8,858,889 $ 9,345,473 Contributions in Relation to Actuarially
Determined Contributions 7,194,477 7,713,430 8,248,423 8,858,889 9,345,473 Contribution Deficiency (Excess) $ - $ - $ - $ - $ -
Covered Payroll $ 17,913,225 $ 16,891,179 $ 16,164,821 $ 13,025,698 $ 15,109,382 Contributions as a Percentage
of Covered Payroll 40.16% 45.67% 51.03% 68.01% 61.85%
Notes to Schedule:

Valuation Date: June 30, 2022
Assumptions Used: Entry Age Method used for Actuarial Cost Method Level Percentage of Payroll and Direct Rate Smoothing

3.7 Years Remaining Amortization Period
Inflation Assumed at 2.3%
Investment Rate of Returns set at 7.15%
The CalPERS discount rate was increased from 7.5% to 7.65% in fiscal year 2016, then decreased from 7.65% to 7.15% in fiscal year 2018 and decrease from 7.15% to 6.90% in 2023.

The CalPERS mortality assumptions were adjusted in fiscal year 2019.

CalPERS mortality table based on CalPERS' experience and include Agenda Packet Page 125 of 206
City of City of El Cerrito
Schedule of Proportionate Share of Net Pension Liability June 30, 2024
(Last Ten Years)
Fiscal Year 2015 2016 2017 2018 2019
Measurement Date 2014 2015 2016 2017 2018
Proportion of Net Pension Liability 0.6318% 0.6701% 0.6338% 0.6229% 0.6419% Proportionate Share of Net Pension Liability $ 39,314,773 $ 45,992,107 $ 54,843,657 $ 61,775,131 $ 61,856,499 Covered Payroll $ 13,945,374 $ 14,363,735 $ 14,674,532 $ 15,809,206 $ 16,978,389 Net Pension Liability
as a % of Covered Payroll 281.92% 320.20% 373.73% 390.75% 364.32% Plan's Fiduciary Net Position as a % of the TPL 79.82% 78.40% 74.06% 73.31% 75.26% Fiscal Year 2020 2021 2022 2022 2024
Measurement Date 2019 2020 2021 2023 2023
Proportion of Net Pension Liability 0.6425% 0.6468% 0.9051% 0.6885% 0.6753% Proportionate Share of Net Pension Liability $ 65,832,700 $ 70,374,424 $ 48,950,390 $ 79,526,924 $ 84,241,029 Covered Payroll $ 17,236,142 $ 17,913,225 $ 16,891,179 $ 16,164,821 $ 13,025,698 Net Pension Liability
as a % of Covered Payroll 381.95% 392.86% 289.80% 491.98% 646.73% Plan's Fiduciary Net Position as a % of the TPL 75.26% 75.10% 88.29% 76.68% 76.21% Notes to Schedule:

The CalPERS discount rate was increased from 7.5% to 7.65% in fiscal year 2016 and then decreased from 7.65% to 7.15% in fiscal year 2018 and decrease from 7.15% to 6.90% in 2023.

The CalPERS mortality assumptions were adjusted in fiscal year 2019.

Agenda Packet Page 126 of 206
This page is intentionally blank
Agenda Packet Page 127 of 206

SUPPLEMENTARY INFORMATION
Agenda Packet Page 128 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual (GAAP Basis)
Street Improvement Fund
For the Year Ended June 30, 2024
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Taxes and assessments $ 1,800,000 1,800,000 $ 2,154,278 $ 354,278 $ Other Revenue 5,000 5,000 12,892 7,892
Total Revenues 1,805,000 1,805,000 2,347,173 542,173

EXPENDITURES
Current:

General government 6,570 6,570 6,105 465
Public works 143,345 143,345 121,101 22,244
Capital outlay 2,000,000 2,007,776 437,393 1,570,383
Total Expenditures 2,149,915 2,157,691 564,599 1,593,092 Excess (Deficiency) of Revenues over Expenditures (344,915) (352,691) 1,782,574 2,135,265

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out (707,100) (707,100) (707,100) -
Total Other Financing Sources (Uses) (707,100) (707,100) (707,100) - Net Change in Fund Balance (1,059,791) (1,052,015) 1,075,474 2,135,265 Fund Balance Beginning 2,793,188 2,793,188 - 2,793,188
Fund Balance Ending $ 1,733,397 1,741,173 $ 3,868,662 $ 2,135,265 $ Agenda Packet Page 129 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual (GAAP Basis)
Capital Improvement Fund
For the Year Ended June 30, 2024
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Taxes and assessments $ - - $ 204,243 $ 204,243 $
Intergovernmental 12,144,619 12,144,619 1,093,448 (11,051,171) Total Revenues 12,144,619 12,144,619 1,297,691 (10,846,928)

EXPENDITURES
Capital outlay 12,557,938 16,659,060 4,001,919 12,657,141 Total Expenditures 16,659,060 12,557,938 4,001,919 12,657,141 Excess (Deficiency) of Revenues over Expenditures (413,319) (4,514,441) (2,704,228) 1,810,213

OTHER FINANCING SOURCES (USES)
Transfers in 40,000 3,121,431 3,121,431 -
Transfers out - - - -
Total Other Financing Sources (Uses) 40,000 3,121,431 3,121,431 - Net Change in Fund Balance (1,393,010) (373,319) 417,203 1,810,213 Fund Balance Beginning (312,572) (312,572) - (312,572)
Fund Balance Ending $ (1,705,582) (685,891) $ 104,631 $ 1,810,213 $ Agenda Packet Page 130 of 206
This page is intentionally blank.

Agenda Packet Page 131 of 206

NONMAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
Gas Tax Fund accounts for revenues and expenditures received from the State of California under Street and Highways Code Section 2105, 2106, 2107, and 2107.5. The allocations must be spent for street maintenance and construction and a limited amount for engineering.

National Pollution Discharge Elimination System Fund accounts for storm water utility fees assessed to property owners citywide on their property tax bills. The funds are used to pay for the "National Pollution Discharge Elimination System" mandated by the Federal government to prevent further polluting of our streams and bays.

Landscape and Lighting Assessment Fund accounts for assessments made upon parcels of land within the Lighting and Landscaping Districts and disburses funds in accordance with the provisions of the State of California Streets and Highway Code.

Measure A Parcel Tax Fund accounts for the use of the voter-approved special tax to be used for the swim center and park capital project.

Measure H Parcel Tax Parks and Recreation Facilities Fund accounts for the use of voter-approved special tax for the maintenance and enhancement of parks and recreation facilities including the Swim Center, playgrounds, open space and trails, park amenities, community center and clubhouses.

Asset Seizure Fund accounts for revenues received from sale of assets seized during drug-related arrests and disburses these funds for authorized public safety activities.

Vehicle Abatement Fund accounts for revenues received from Vehicle Code Section 9250.7 to administer and operate the local vehicle abatement program.

Park In Lieu Fund accounts for funds received through negotiations with developers to be used for park improvements. Public Art Fund accounts for fees related to development that is committed to art in public places.

SB-1 Road Repair and Accountability Fund accounts for Senate Bill 1 (SB1) with the aim of repairing roads, improving traffic safety and expanding public transit systems.

Public Art Fund accounts for resources received and used for public art.

Measure J Paratransit Fund accounts for the portion of the half-cent County-wide sales tax levied to fund transportation improvements to local streets.

Municipal Services Corporation Special Revenue Fund accounts for the activities of the El Cerrito Municipal Services Corporation, a nonprofit corporation established to assist the City with public communications and financing of public improvements and later with the elimination of community blight and deterioration within the City.

City Housing Special Revenue Fund accounts for housing-related grants and special revenues, such as developer deposits, that are restricted for affordable housing purposes, but are not activities or assets of the Housing Successor.

Federal, State, and Local Grants Fund Special Revenue Fund accounts for revenues and expenditures related to grants from other governmental agencies.

Agenda Packet Page 132 of 206

NONMAJOR GOVERNMENTAL FUNDS
Debt Service Fund
Public Financing Authority Debt Service Fund accounts for principal and interest payments on lease revenue bonds issued by the City of El Cerrito Public Financing Authority.

Capital Projects Funds
Measure J Fund accounts for the portion of the half-cent County-wide sales tax levied to fund transportation improvements to local streets.

Storm Drain Fund accounts for assessments collected and funds expended for the maintenance and upgrade of the storm drains.

Agenda Packet Page 133 of 206
City of El Cerrito
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
National Measure H
Pollution Landscape Measure A Parcel Tax
Gas Discharge and Lighting Parcel Parks & Rec
Tax Elimination Assement Tax Facilities
Fund System Fund Fund Fund Fund
ASSETS
Cash and investments $ 272,502 317,330 $ 235,000 $ 2,339 $ 497,754 $ Accounts receivable - 104,992 14,798 - 214
Due from other governments 61,181 - - - -
Prepaid items and other assets - - - 1,454 -
Loans receivable - - - - -
Total assets $ 377,494 378,511 $ 249,798 $ 3,793 $ 497,968 $

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable $ 3,351 10,382 $ 31,817 $ -$ 43,905 $
Accrued liabilities 5,279 6,164 4,684 - -
Deposits payable - - - - -
Unearned revenue - - - - -
Total liabilities 16,546 8,630 36,501 - 43,905
Deferred Inflows of Resources:

Unavailable revenues - - - - -
Fund Balances:

Restricted:

Redevelopment - - - - -
Debt service - - - - -
Street improvements 361,965 - 213,297 - -
Transportation - - - - -
Public safety - police - - - - -
Public safety - vehicle abatement - - - - -
Parks and recreation - - - 3,793 454,063
Storm drains - 368,864 - - -
Public art - - - - -
Housing - - - - -
Total fund balances 361,965 368,864 213,297 3,793 454,063 Total liabilities and fund balances $ 377,494 378,511 $ 249,798 $ 3,793 $ 497,968 $ Cont'd
Special Revenue Funds
Agenda Packet Page 134 of 206
City of El Cerrito
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
ASSETS
Cash and investments
Accounts receivable
Due from other governments
Prepaid items and other assets
Loans receivable
Total assets

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable
Accrued liabilities
Deposits payable
Unearned revenue
Total liabilities
Deferred Inflows of Resources:

Unavailable revenues
Fund Balances:

Restricted:

Redevelopment
Debt service
Street improvements
Transportation
Public safety - police
Public safety - vehicle abatement
Parks and recreation
Storm drains
Public art
Housing
Total fund balances
Total liabilities and fund balances
$ 395,030 401,573 $ 1,363,233 $ 142,380 $
2,767 9,764 - -
- - 116,668 -
- - - -
- - - -
$ 397,797 401,573 $ 1,489,665 $ 142,380 $
$ - 3,455 $ 100,212 $ - $
- - - 51
- 75,820 - -
- - - -
- 79,275 100,212 51
2,767 - 9,585 -
- - - -
- - - -
- - 1,379,868 -
- - - -
- 322,298 - -
395,030 - - -
- - - -
- - - -
- - - 142,329
- - - -
322,298 395,030 1,379,868 142,329
$ 401,573 $ 397,797 $ 1,489,665 $ 142,380
Cont'd
SB1-Road Repair
& Accountability
Fund
Special Revenue Funds
Asset Seizure
Fund
Vehicle
Abatement Fund Public Art Fund
Agenda Packet Page 135 of 206
City of El Cerrito
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
ASSETS
Cash and investments
Accounts receivable
Due from other governments
Prepaid items and other assets
Loans receivable
Total assets

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable
Accrued liabilities
Deposits payable
Unearned revenue
Total liabilities
Deferred Inflows of Resources:

Unavailable revenues
Fund Balances:

Restricted:

Redevelopment
Debt service
Street improvements
Transportation
Public safety - police
Public safety - vehicle abatement
Parks and recreation
Storm drains
Public art
Housing
Total fund balances
Total liabilities and fund balances
Federal
State and
Local
Grants
Fund
$ 321,757 589,363 $ - $ 618,818 $
33,260 21,882 3,937 101,717
- - - -
- 1,464 - 17,500
- - 3,010,000 -
$ 355,017 612,709 $ 3,013,937 $ 738,035 $
$ - 487 $ - $ 4,166 $
- 1,273 - 9,416
306,444 - 25,000 65,025
- - - 94,723
306,444 1,760 25,000 173,330
- - 3,937 94,663
48,573 - - 470,042
- - - -
- - - -
- 610,949 - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - 2,985,000 -
610,949 48,573 2,985,000 470,042
$ 612,709 $ 355,017 $ 3,013,937 $ 738,035
Cont'd
Measure J
Paratransit Fund
Municipal Services
Corp Fund
City Housing Trust
Fund
Special Revenue Funds
Agenda Packet Page 136 of 206
City of El Cerrito
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2024
ASSETS
Cash and investments
Accounts receivable
Due from other governments
Prepaid items and other assets
Loans receivable
Total assets

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable
Accrued liabilities
Deposits payable
Unearned revenue
Total liabilities
Deferred Inflows of Resources:

Unavailable revenues
Fund Balances:

Restricted:

Redevelopment
Debt service
Street improvements
Transportation
Public safety - police
Public safety - vehicle abatement
Parks and recreation
Storm drains
Public art
Housing
Total fund balances
Total liabilities and fund balances
Debt
Service
Public Total
Finance Nonmajor
Authority Governmental
Fund Funds
$ 24,528 $ 1,112,664 111,120 $ 6,405,391 $
573,791 - - 867,122
- - - 177,849
- - 1,323 21,741
- - - 3,010,000
$ 684,911 24,528 $ 1,113,987 $ $ 10,482,103
$ 22,630 - $ 11,259 $ $ 231,664
3,855 - 8,090 38,812
- - - 472,289
- - - 94,723
26,485 - 19,349 837,488
- - - 110,952
- - - 518,615
- 24,528 - 24,528
- - - 1,955,130
658,426 - - 1,269,375
- - - 322,298
- - - 395,030
- - - 457,856
- - 1,094,638 1,463,502
- - - 142,329
- - - 2,985,000
658,426 24,528 1,094,638 9,533,663
$ 684,911 24,528 $ 1,113,987 $ 10,482,103 $
Concluded
Capital Projects Funds
Measure J Fund Storm Drain Fund
Agenda Packet Page 137 of 206
City of El Cerrito
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2024
National Measure H
Pollution Landscape Measure A Parcel Tax
Gas Discharge and Lighting Parcel Parks & Rec
Tax Elimination Assement Tax Facilities
Fund System Fund Fund Fund Fund

REVENUES
Taxes and assessments -$ -$ 781,391 $ -$ 640,177 $
Intergovernmental 711,592 276,837 14,581 - -
Use of money and property 15,195 13,359 7,230 616 22,038 Charges for services - - - - -
Other Revenue - 310,316 5,393 - -
Total Revenues 726,787 600,512 808,595 662,215 616

EXPENDITURES
Current:

General government - - - - -
Public works 659,865 355,170 670,663 5,760 557,919
Recreation - - 92,681 - 18,129
Community development - - - - -
Public safety - - - - -
Capital outlay - - - 143,793 83,295
Debt service:

Principal - - - - -
Interest and fiscal charges - - - - -
Total Expenditures 659,865 355,170 149,553 763,344 659,343 Excess (Deficiency) of Revenues over Expenditures 245,342 66,922 45,251 (148,937) 2,872

OTHER FINANCING SOURCES (USES)
Transfers in - - - - -
Transfers out - - - - -
Total Other Financing Sources (Uses) - - - - -
Net Change in Fund Balances 66,922 245,342 45,251 (148,937) 2,872 Fund Balances Beginning 295,043 123,522 168,046 152,730 451,191 Prior Period Corrections - - - - -
Fund Balances Beginning, as Adjusted 295,043 123,522 168,046 152,730 451,191 Fund Balances Ending $ 368,864 361,965 $ 213,297 $ 3,793 $ 454,063 $ Cont'd
Special Revenue Funds
Agenda Packet Page 138 of 206
City of El Cerrito
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Prior Period Corrections
Fund Balances Beginning, as Adjusted
Fund Balances Ending
$ - $ - $ - $ -
- 14,174 61,939 -
- - 669,438 7,437
- - - -
- - 9,650 -
- 14,174 741,027 7,437
- - - -
- - 216,628 -
- - - -
- - - 10,241
84,966 36,149 - -
- - 160,103 -
- - - -
- - - -
84,966 36,149 376,731 10,241
(84,966) (21,975) 364,296 (2,804)
- - - -
- - - (12,000)
- - - (12,000)
(84,966) (21,975) 364,296 (14,804)
407,264 417,005 1,012,523 157,133
- - 3,049 -
407,264 417,005 1,015,572 157,133
$ 322,298 $ 395,030 $ 1,379,868 $ 142,329
Cont'd
Special Revenue Funds
Asset Seizure Fund
Vehicle Abatement
Fund
SB1-Road Repair
& Accountability
Fund Public Art Fund
Agenda Packet Page 139 of 206
City of El Cerrito
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Prior Period Corrections
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Federal
State and
Local
Grants
Fund
$ - 254,660 $ - $ - $
- - 150,000 432,845
14,304 28,393 - 21,795
- 5,405 - -
- - - 57,952
14,304 288,458 150,000 512,592
- - - 7,366
- - - 3,589
- 111,658 - 34,276
1,022 - - 40,367
- - - 210,827
- - - -
- - - -
- - - -
1,022 111,658 - 296,425
13,282 176,800 150,000 216,167
- - - 12,830
- - - -
- - - 12,830
176,800 13,282 150,000 228,997
434,149 35,291 2,835,000 241,045
- - - -
434,149 35,291 2,835,000 241,045
$ 610,949 $ 48,573 $ 2,985,000 $ 470,042
Cont'd
Special Revenue Funds
Measure J
Paratransit Fund
Municipal Services
Corp Fund
City Housing Trust
Fund
Agenda Packet Page 140 of 206
City of El Cerrito
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning
Prior Period Corrections
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Debt
Service
Public Total
Finance Nonmajor
Authority Governmental
Fund Funds
$ - $ 574,291 $ 701,612 $ 2,952,131
- - - 1,661,968
- 12,338 50,766 862,909
- - - 5,405
- - - 383,311
- 586,629 752,378 5,865,724
- - - 7,366
- 397,837 438,296 3,305,727
- - - 256,744
- - - 51,630
- - - 331,942
- 100,792 155,006 642,989
700,000 - - 700,000
583,063 - - 583,063
1,283,063 498,629 593,302 5,879,461
(1,283,063) 88,000 159,076 (13,737)
1,289,863 - - 1,302,693
- (82,000) - (94,000)
1,289,863 (82,000) - 1,208,693
6,800 6,000 159,076 1,194,956
17,728 655,475 935,562 8,338,707
- (3,049) - -
17,728 652,426 935,562 8,338,707
$ 24,528 $ 658,426 $ 1,094,638 $ 9,533,663
Concluded
Capital Projects Funds
Measure J Fund Storm Drain Fund
Agenda Packet Page 141 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)

REVENUES
Taxes and assessments -$ -$ -$ -$
Fines and penalties - - - -
Intergovernmental 704,800 704,800 711,592 6,792
Use of money and property - - 15,195 15,195
Charges for services - - - -
Other Revenue - - - -
Total Revenues 704,800 704,800 726,787 21,987

EXPENDITURES
Current:

General government - - - -
Public works 779,381 779,381 659,865 119,516
Recreation - - - -
Community development - - - -
Public safety - - - -
Capital outlay - - - -
Debt service:

Principal - - - -
Interest and fiscal charges - - - -
Total Expenditures 779,381 779,381 659,865 119,516
Excess (Deficiency) of Revenues over Expenditures (74,581) (74,581) 66,922 141,503

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out - - - -
Total Other Financing Sources (Uses) - - - -
Net Change in Fund Balances (74,581) (74,581) 66,922 141,503 Fund Balances Beginning, as Adjusted 295,043 295,043 295,043 - Fund Balances Ending $ 220,462 $ 220,462 $ 361,965 $ 141,503 Cont'd
Gas Tax Fund
Budgeted Amounts
Agenda Packet Page 142 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
337,300 337,300 276,837 (60,463)
- - 13,359 13,359
- - - -
- - 310,316 310,316
337,300 337,300 600,512 263,212
- - - -
402,567 412,168 355,170 56,998
- - - -
- - - -
- - - -
- - - -

- - - -
- - - -
402,567 412,168 355,170 56,998
(65,267) (74,868) 245,342 320,210
- - - -
- - - -
- - - -
(65,267) (74,868) 245,342 320,210
123,522 123,522 123,522 -
$ 58,255 $ 48,654 $ 368,864 $ 320,210
Cont'd
National Pollution Discharge Elimination System Fund
Budgeted Amounts
Agenda Packet Page 143 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
789,300$ 789,300$ $ 781,391 $ (7,909)
- - - -
10,500 10,500 14,581 4,081
- - 7,230 7,230
- - - -
1,000 1,000 5,393 4,393
800,800 800,800 808,595 7,795
- - - -
746,382 746,382 670,663 75,719
91,125 91,125 92,681 (1,556)
- - - -
- - - -
- - - -

- - - -
- - - -
837,507 837,507 763,344 74,163
(36,707) (36,707) 45,251 81,958
- - - -
- - - -
- - - -
(36,707) (36,707) 45,251 81,958
168,046 168,046 168,046 -
131,339$ 131,339$ $ 213,297 $ 81,958
Cont'd
Landscape and Lighting Assement Fund
Budgeted Amounts
Agenda Packet Page 144 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
- - - -
- - 616 616
- - - -
- - - -
- - 616 616
- - - -
- - 5,760 (5,760)
- - - -
- - - -
- - - -
- 143,394 143,793 (399)

- - - -
- - - -
- 143,394 149,553 (6,159)
- (143,394) (148,937) (5,543)
- - - -
- - - -
- - - -
- (143,394) (148,937) (5,543)
152,730 152,730 152,730 -
$ 152,730 9,336$ $ 3,793 $ (5,543)
Cont'd
Measure A Parcel Tax Fund
Budgeted Amounts
Agenda Packet Page 145 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
$ 647,000 647,000 $ 640,177 $ (6,823) $
- - - -
- - - -
- - 22,038 22,038
- - - -
- - - -
647,000 647,000 662,215 15,215
- - - -
580,062 628,833 557,919 70,914
110,000 110,533 18,129 92,404
- - - -
- - - -
50,000 58,057 83,295 (25,238)

- - - -
- - - -
740,062 797,423 659,343 138,080
(93,062) (150,423) 2,872 153,295
- - - -
- - - -
- - - -
(93,062) (150,423) 2,872 153,295
451,191 451,191 451,191 -
$ 358,129 $ 300,768 $ 454,063 $ 153,295
Cont'd
Measure H Parcel Tax Parks & Rec Facilities Fund
Budgeted Amounts
Agenda Packet Page 146 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
120,000 170,600 84,966 85,634
- - - -

- - - -
- - - -
120,000 170,600 84,966 85,634
(120,000) (170,600) (84,966) 85,634
- - - -
- - - -
- - - -
(120,000) (170,600) (84,966) 85,634
407,264 407,264 407,264 -
$ 287,264 $ 236,664 $ 322,298 $ 85,634
Cont'd
Budgeted Amounts
Asset Seizure Fund
Agenda Packet Page 147 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
8,000 8,000 14,174 6,174
- - - -
- - - -
- - - -
8,000 8,000 14,174 6,174
- - - -
- - - -
- - - -
- - - -
200,000 200,000 36,149 163,851
- - - -

- - - -
- - - -
200,000 200,000 36,149 163,851
(192,000) (192,000) (21,975) 170,025
- - - -
- - - -
- - - -
(192,000) (192,000) (21,975) 170,025
417,005 417,005 417,005 -
$ 225,005 $ 225,005 $ 395,030 $ 170,025
Cont'd
Vehicle Abatement Fund
Budgeted Amounts
Agenda Packet Page 148 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
- - 61,939 61,939
561,200 561,200 669,438 108,238
- - - -
- - 9,650 9,650
561,200 561,200 741,027 179,827
- - - -
222,530 242,229 216,628 25,601
- - - -
- - - -
- - - -
915,500 919,655 160,103 759,552

- - - -
- - - -
1,138,030 1,161,884 376,731 785,153
(576,830) (600,684) 364,296 964,980
- - - -
- - - -
- - - -
(576,830) (600,684) 364,296 964,980
1,015,572 1,015,572 1,015,572 -
$ 438,742 $ 414,888 $ 1,379,868 $ 964,980
Cont'd
SB1-Road Repair & Accountability Fund
Budgeted Amounts
Agenda Packet Page 149 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
- - - -
- - 7,437 7,437
- - - -
- - - -
- - 7,437 7,437
- - - -
- - - -
- - - -
100,000 100,000 10,241 89,759
- - - -
- - - -

- - - -
- - - -
100,000 100,000 10,241 89,759
(100,000) (100,000) (2,804) 97,196
- - - -
- - (12,000) (12,000)
- - (12,000) (12,000)
(100,000) (100,000) (14,804) 85,196
157,133 157,133 157,133 -
$ 57,133 $ 57,133 $ 142,329 $ 85,196
Cont'd
Public Art Fund
Budgeted Amounts
Agenda Packet Page 150 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
$ 254,097 254,097 $ 254,660 $ 563 $
- - - -
- - - -
- - 28,393 28,393
12,500 12,500 5,405 (7,095)
- - - -
266,597 266,597 288,458 21,861
- - - -
- - - -
293,876 293,876 111,658 182,218
- - - -
- - - -
- - - -

- - - -
- - - -
293,876 293,876 111,658 182,218
(27,279) (27,279) 176,800 204,079
- - - -
- - - -
- - - -
(27,279) (27,279) 176,800 204,079
434,149 434,149 434,149 -
$ 406,870 $ 406,870 $ 610,949 $ 204,079
Cont'd
Measure J Paratransit Fund
Budgeted Amounts
Agenda Packet Page 151 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
- - - -
- - 14,304 14,304
- - - -
- - - -
- - 14,304 14,304
- - - -
- - - -
- - - -
- - 1,022 (1,022)
- - - -
- - - -

- - - -
- - - -
- - 1,022 (1,022)
- - 13,282 13,282
- - - -
- - - -
- - - -
- - 13,282 13,282
35,291 35,291 35,291 -
$ 35,291 $ 35,291 $ 48,573 $ 13,282
Cont'd
Municipal Services Corp Fund
Budgeted Amounts
Agenda Packet Page 152 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
- - 150,000 150,000
- - - -
- - - -
- - - -
- - 150,000 150,000
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

- - - -
- - - -
- - - -
- - 150,000 150,000
- - - -
- - - -
- - - -
- - 150,000 150,000
2,835,000 2,835,000 2,835,000 -
$ 2,835,000 $ 2,835,000 $ 2,985,000 $ 150,000
Cont'd
Budgeted Amounts
City Housing Trust Fund
Agenda Packet Page 153 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
100,000 100,000 432,845 332,845
- - 21,795 21,795
- - - -
445,511 445,511 57,952 (387,559)
545,511 545,511 512,592 (32,919)
- - 7,366 (7,366)
- - 3,589 (3,589)
50,000 50,000 34,276 15,724
395,511 401,556 40,367 361,189
250,000 403,600 210,827 192,773
- - - -

- - - -
- - - -
695,511 855,156 296,425 558,731
(150,000) (309,645) 216,167 525,812
- - 12,830 12,830
- - - -
- - 12,830 12,830
(150,000) (309,645) 228,997 538,642
241,045 241,045 241,045 -
$ 91,045 $ (68,600) $ 470,042 $ 538,642
Cont'd
Budgeted Amounts
Federal, State, and Local Grants Fund
Agenda Packet Page 154 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
-$ -$ -$ -$
- - - -
- - - -
151 151 - (151)
- - - -
- - - -
151 151 - (151)
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

670,000 670,000 700,000 (30,000)
619,863 619,863 583,063 36,800
1,289,863 1,289,863 1,283,063 6,800
(1,289,712) (1,289,712) (1,283,063) 6,649
1,289,863 1,289,863 1,289,863 -
- - - -
1,289,863 1,289,863 1,289,863 -
151 151 6,800 6,649
17,728 17,728 17,728 -
$ 17,879 $ 17,879 $ 24,528 $ 6,649
Cont'd
Public Finance Authority Fund
Agenda Packet Page 155 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
$ 493,300 493,300 $ 574,291 $ 80,991 $
- - - -
- - - -
- - 12,338 12,338
- - - -
- - - -
493,300 493,300 586,629 93,329
- - - -
475,980 527,622 397,837 129,785
- - - -
- - - -
- - - -
270,000 270,000 100,792 169,208

- - - -
- - - -
745,980 797,622 498,629 298,993
(252,680) (304,322) 88,000 392,322
- - - -
(40,000) (82,000) (82,000) -
(40,000) (82,000) (82,000) -
(292,680) (386,322) 6,000 392,322
652,426 652,426 652,426 -
$ 359,746 $ 266,104 $ 658,426 $ 392,322
Cont'd
Measure J Fund
Agenda Packet Page 156 of 206
City of El Cerrito
Schedule of Revenues, Expenditures, and
Changes in Fund Balances
Budget and Actual (GAAP Basis)
Nonmajor Governmental Funds
For the Year Ended June 30, 2024

REVENUES
Taxes and assessments
Fines and penalties
Intergovernmental
Use of money and property
Charges for services
Other Revenue
Total Revenues

EXPENDITURES
Current:

General government
Public works
Recreation
Community development
Public safety
Capital outlay
Debt service:

Principal
Interest and fiscal charges
Total Expenditures
Excess (Deficiency) of Revenues over Expenditures

OTHER FINANCING SOURCES (USES)
Transfers in
Transfers out
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances Beginning, as Adjusted
Fund Balances Ending
Variance with
Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
$ 709,400 709,400 $ 701,612 $ (7,788) $
- - - -
- - - -
- - 50,766 50,766
- - - -
- - - -
709,400 709,400 752,378 42,978
- - - -
576,841 592,792 438,296 154,496
- - - -
- - - -
- - - -
550,000 559,558 155,006 404,552

- - - -
- - - -
1,126,841 1,152,350 593,302 559,048
(417,441) (442,950) 159,076 602,026
- - - -
- - - -
- - - -
(417,441) (442,950) 159,076 602,026
935,562 935,562 935,562 -
$ 518,121 $ 492,612 $ 1,094,638 $ 602,026
Concluded
Storm Drain Fund
Agenda Packet Page 157 of 206

STATISTICAL SECTION
Agenda Packet Page 158 of 206
This page is intentionally blank.

Agenda Packet Page 159 of 206

STATISTICAL SECTION
This part of the City’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. In contrast to the financial section, the statistical section information is not subject to independent audit.

Financial Trends
These schedules contain trend information to help the reader understand how the City’s financial performance and well being have changed over time:

1. Net Position by Component

2. Changes in Net Position

3. Fund Balances of Governmental Funds

4. Changes in Fund Balance of Governmental Funds
Revenue Capacity
These schedules contain information to help the reader assess the City’s most significant local revenue source, the property tax:

5. Net Assessed Value of Property

6. Property Tax Levies and Collections

7. Direct and Overlapping Property Tax Rates

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

9. Ratio of General Obligation Bonded Debt to Assessed Value and General Obligation on Bonded Debt Per Capita

10. Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt to Total General Governmental Expenditures

11. Ratios of Outstanding Debt by Type

12. Computation of Legal Debt Margin

13. Schedule of Direct and Overlapping Debt
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which the City’s financial activities take place:

14. Demographic and Economic Statistics

15. Principal Employers
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the City’s financial report relates to the services the City provides and the activities it performs:

16. Full-Time Equivalent Employees by Function

17. Operating Indicators by Function

18. Construction Value

19. Miscellaneous Statistics
Sources
Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive Financial Reports for the relevant year.

Agenda Packet Page 160 of 206
This page is intentionally blank.

Agenda Packet Page 161 of 206
City of El Cerrito Table 1
Net Position by Component
Last Ten Fiscal Years
Governmental activities: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Net investment in capital assets $ 62,485,398 $ 61,687,197 $ 60,263,647 $ 58,942,988 $ 55,950,869 $ 54,638,042 $ 53,652,456 $ 53,377,263 $ 53,389,633 $ 56,361,576 Restricted 15,211,282 16,401,240 16,468,323 17,041,501 14,255,506 15,240,589 15,859,381 16,029,304 17,767,175 21,667,676 Unrestricted (48,590,298) (46,508,497) (45,697,093) (50,908,159) (54,698,365) (59,443,810) (55,481,269) (53,818,045) (31,271,761) (30,236,783) Total net position $ 29,106,382 $ 31,579,940 $ 31,034,877 $ 25,076,330 $ 15,508,010 $ 10,434,821 $ 14,030,568 $ 15,588,522 $ 39,885,047 $ 47,792,469 Business-type activities: 2015 2016 2017 2018 2019 2020 2021 2022 2022 2023 Net investment in capital assets $ 440,669 $ 674,225 $ 950,099 $ 1,106,285 $ 1,287,089 $ 1,477,133 $ 1,679,420 $ 1,363,893 $ 2,199,706 $ 3,937,059 Restricted - - - - - - - - - -
Unrestricted 247,155 72,217 (84,655) (91,433) (237,733) 152,426 1,079,923 2,514,386 2,427,637 (549,456) Total net position $ 687,824 $ 746,442 $ 865,444 $ 1,014,852 $ 1,049,356 $ 1,629,559 $ 2,759,343 $ 3,878,279 $ 4,627,343 $ 3,387,603 Primary Government 2015 2016 2017 2018 2019 2020 2021 2022 2022 2023 Net investment in capital assets $ 62,926,067 $ 62,361,422 $ 61,213,746 $ 60,049,273 $ 57,237,958 $ 56,115,175 $ 55,331,876 $ 54,741,156 $ 55,589,339 $ 60,298,635 Restricted 15,211,282 16,401,240 16,468,323 17,041,501 14,255,506 15,240,589 15,859,381 16,029,304 17,767,175 21,667,676 Unrestricted (48,343,143) (46,436,280) (45,781,748) (50,999,592) (54,936,098) (59,291,384) (54,401,346) (51,303,659) (28,844,124) (30,786,239) Total net position $ 29,794,206 $ 32,326,382 $ 31,900,321 $ 26,091,182 $ 16,557,366 $ 12,064,380 $ 16,789,911 $ 19,466,801 $ 44,512,390 $ 51,180,072 Source: Financial Statements
Note: The negative unrestricted net position is the result of the implementation of GASB 68.

Fiscal Year
Fiscal Year
Fiscal Year
Agenda Packet Page 162 of 206
City of El Cerrito Table 2
Changes in Net Position
Last Ten Fiscal Years
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Expenses:

Governmental activities:

General government $ 4,218,763 $ 4,791,816 $ 5,138,555 $ 5,758,535 $ 6,723,883 $ 6,853,922 $ 5,811,523 $ 7,884,210 $ 4,892,654 $ 8,271,822 Public works 5,576,671 5,276,434 7,296,766 8,956,800 8,800,985 8,041,340 7,677,819 9,260,749 6,244,845 9,122,950 Recreation 4,629,731 4,838,539 5,335,946 6,319,879 6,852,784 6,579,645 4,691,509 6,089,667 3,896,266 6,999,666 Community development 2,208,566 2,094,643 2,867,664 2,877,501 2,683,918 2,881,181 3,452,703 4,262,818 2,376,676 4,530,222 Public safety 18,924,124 18,620,431 20,310,165 24,291,518 26,250,994 # 26,853,126 # 26,208,413 # 30,989,792 # 16,455,373 # 29,383,735 Interest and fiscal charges 880,173 845,437 982,440 852,986 837,272 844,041 879,070 716,380 630,504 166,298 Total governmental activities expenses 36,438,028 36,467,300 41,931,536 49,057,219 52,149,836 52,053,255 48,721,037 59,203,616 34,496,318 58,474,693 Business-type activities:

Integrated waste management 1,787,896 1,940,519 2,376,867 2,420,952 2,606,192 2,793,637 2,662,806 2,815,640 3,243,285 3,412,017 Program Revenues:

Governmental activities:

Charges for services:

General government 109,345 137,038 1,096,168 1,116,938 983,618 947,409 1,037,096 547,024 480,288 468,692 Public works 987,537 514,039 331,297 433,727 453,911 317,062 410,676 593,215 557,706 735,339 Recreation 3,285,398 3,112,985 3,611,541 3,785,511 4,385,622 3,108,433 2,142,292 3,932,395 4,398,223 4,958,617 Community development 1,132,299 1,439,678 1,848,830 1,813,313 1,917,141 1,841,512 1,756,009 3,096,993 2,673,576 2,896,914 Public safety 2,793,410 2,819,113 3,048,763 3,504,858 3,437,116 3,522,587 3,746,725 4,093,311 4,526,164 4,709,908 Operating grants and contribution 2,762,749 2,496,255 1,942,080 2,410,442 3,534,462 2,329,117 5,632,909 4,797,917 1,437,171 1,550,711 Capital grants and contributions 3,677,475 1,573,560 2,039,912 3,013,832 5,093,007 2,767,468 3,317,784 1,280,680 1,709,112 4,841,678 Total governmental program revenues 14,748,213 12,092,668 13,918,591 16,078,621 19,804,877 14,833,588 18,043,491 18,341,535 15,782,240 20,161,859 Business-type activities:

Charges for services:

Integrated waste management 2,203,157 2,318,342 2,366,205 2,555,397 2,581,473 3,337,310 3,779,477 3,877,922 3,920,346 4,182,443 Operating grants and contribution 1,250 37,213 25,683 24,634 62,894 40,201 16,784 60,016 32,471 33,907 Total business-type activities 2,204,407 2,355,555 2,391,888 2,580,031 2,644,367 3,377,511 3,796,261 3,937,938 3,952,817 4,216,350 Total primary government program revenues 16,952,620 14,448,223 16,310,479 18,658,652 22,449,244 18,211,099 21,839,752 22,279,473 19,735,057 24,378,209 Net revenues (expense)
Governmental activities: (21,689,815) (24,374,632) (28,012,945) (32,978,598) (32,344,959) (37,219,667) (30,677,546) (40,862,081) (18,714,078) (38,312,834) Business-type activities: 416,511 415,036 15,021 159,079 38,175 583,874 1,133,455 1,122,298 709,532 804,333 Total primary gov't net revenue (expense) $ (21,273,304) $ (23,959,596) $ (27,997,924) $ (32,819,519) $ (32,306,784) $ (36,635,793) $ (29,544,091) $ (39,739,783) $ (18,004,546) $ (37,508,501) Source: Financial statements Continued
Fiscal Year
Agenda Packet Page 163 of 206
City of El Cerrito Table 2
Changes in Net Position
Last Ten Fiscal Years
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fiscal Year
General revenues and special items:

Governmental activities:

Taxes:

Property taxes $ 9,927,028 $ 11,211,539 $ 12,770,037 $ 13,360,216 $ 14,242,520 $ 14,381,441 $ 15,213,912 $ 16,683,058 $ 17,813,125 $ 18,503,332 Sales taxes 6,408,016 7,234,366 7,477,393 8,215,732 8,318,511 8,134,818 9,708,892 9,671,196 12,110,514 11,457,300 Transient occupancy taxes 114,712 139,084 134,171 145,489 147,550 118,891 126,164 113,434 107,817 89,451 Franchise and other taxes 1,376,771 1,453,351 1,375,048 1,279,037 1,244,897 1,637,666 1,364,257 1,181,509 1,604,218 1,854,938 Business license taxes 722,130 787,122 775,413 846,900 910,104 918,799 924,358 1,040,618 1,069,964 1,128,561 Utility user taxes 3,106,232 3,291,255 3,360,277 2,965,675 3,207,892 3,165,974 3,444,484 3,403,776 4,100,286 4,015,551 Real property county transfer tax - - - - 1,102,563 3,467,532 4,419,107 4,863,035 4,157,840 3,129,523 Other taxes 144,539 180,447 154,863 147,623 1,935 2,811 213,044 581,641 706,695 805,437 Other 1,548,232 2,640,631 481,324 300,264 340,572 344,875 176,593 1,146,385 1,887,516 2,920,338 Transfers 346,319 356,418 9,671 9,671 3,671 3,671 3,671 3,671 3,671 3,671 Special item - - - - (6,773,576) - (1,321,189) - -
Total governmental activities 23,693,979 27,294,213 26,538,197 27,270,607 22,746,639 32,176,478 34,273,293 38,688,323 43,561,646 43,908,102 Business-type activities:

Other - - - - - - - 309 43,203 116,999
Transfers (346,319) (356,418) (9,671) (9,671) (3,671) (3,671) (3,671) (3,671) (3,671) (3,671) Total business-type activities: (346,319) (356,418) (9,671) (9,671) (3,671) (3,671) (3,671) (3,362) 39,532 113,328 Total primary government $ 23,347,660 $ 26,937,795 $ 26,528,526 $ 27,260,936 $ 22,742,968 $ 32,172,807 $ 34,269,622 $ 38,684,961 $ 43,601,178 $ 44,021,430 Change in net position:

Governmental activities: $ 2,004,164 $ 2,919,581 $ (1,474,748) $ (5,707,991) $ (9,598,320) $ (5,043,189) $ 3,595,747 $ (2,173,758) $ 24,847,568 $ 5,595,268 Business-type activities: 70,192 58,618 5,350 149,408 34,504 580,203 1,129,784 1,118,936 749,064 917,661 Total primary government $ 2,074,356 $ 2,978,199 $ (1,469,398) $ (5,558,583) $ (9,563,816) $ (4,462,986) $ 4,725,531 $ (1,054,822) $ 25,596,632 $ 6,512,929 Source: Financial statements Concluded
Agenda Packet Page 164 of 206
City of El Cerrito Table 3
Fund Balances of Governmental Funds
Last Ten Fiscal Years
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
General fund:

Nonspendable $ 128,242 $ 170,353 $ 994,742 $ 2,321,077 $ 1,650,928 $ 1,667,511 $ 25,694 $ 200,339 $ 108,865 $ 126,751 Restricted 10,170 10,187 10,205 - - - - - - 1,372,890
Assigned - - - - - - 7,117,568 - -
Unassigned 1,323,100 1,713,302 (186,227) (2,233,507) (1,707,620) (1,777,532) - 16,423,835 23,034,216 21,393,697 Total general fund $ 1,461,512 $ 1,893,842 $ 818,720 $ 87,570 $ (56,692) $ (110,021) $ 7,143,262 $ 16,624,174 $ 23,143,081 $ 22,893,338 All other governmental funds:

Nonspendable $ - $ - $ - $ - $ - $ 1,087 $ - $ - $ - $ - Restricted 8,778,625 10,017,073 15,608,545 16,077,928 13,130,770 14,198,963 14,735,254 14,976,465 16,392,159 18,788,908 Assigned - - - - - - - - - -
Unassigned (1,357,264) (1,157,537) (802,928) (1,368,372) (322,255) (513) - (91,408) (312,572) - Total all other governmental funds $ 7,421,361 $ 8,859,536 $ 14,805,617 $ 14,709,556 $ 12,808,515 $ 14,199,537 $ 14,735,254 $ 14,885,057 $ 16,079,587 $ 18,788,908 Total fund balances $ 8,882,873 $ 10,753,378 $ 15,624,337 $ 14,797,126 $ 12,751,823 $ 14,089,516 $ 21,878,516 $ 31,509,231 $ 39,222,668 $ 41,682,246 Source: City Financial Statements
Fiscal Year
Agenda Packet Page 165 of 206
City of El Cerrito Table 4
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Revenues:

Taxes and assessments $ 25,956,002 23,447,204 $ 27,511,526 $ 23,829,757 $ 31,367,715 $ 33,650,613 $ 36,544,925 $ 37,688,070 $ 41,758,461 $ 41,158,336 $ Licenses and permits 493,244 607,729 719,843 765,706 775,876 784,982 656,881 1,440,972 1,051,537 1,272,849 Fines and forfeitures 276,759 326,544 350,855 222,173 232,298 227,463 177,525 155,301 115,407 231,231 Use of money and property 450,409 415,534 451,388 373,954 261,611 377,294 206,631 633,226 1,140,544 1,750,297 Intergovernmental revenues 9,229,702 6,833,050 4,759,518 4,115,543 9,609,792 6,034,335 10,725,849 9,332,700 6,510,628 7,989,866 Charges for services 4,288,002 4,406,143 5,766,594 6,099,394 6,944,795 5,491,613 4,996,957 7,412,088 7,863,312 8,599,499 Other revenues 189,696 808,134 678,047 377,394 582,815 609,522 243,033 293,963 539,696 668,341 Total revenues 38,375,016 39,353,136 40,237,771 35,783,921 49,774,902 47,175,822 53,551,801 56,956,320 58,979,585 61,670,419 Expenditures:

Current:

General government 3,738,775 4,363,219 4,928,339 5,250,720 5,949,944 6,005,738 5,185,148 5,966,264 6,989,134 7,600,860 Public works 2,656,789 2,748,364 3,831,414 4,222,203 4,639,984 4,492,288 4,334,149 4,982,804 5,253,023 6,042,116 Recreation 4,352,987 4,685,966 5,067,725 5,436,565 6,037,006 5,686,943 3,995,975 4,524,341 5,450,814 6,376,884 Community development 2,387,886 4,622,769 2,778,502 2,582,282 2,531,783 2,600,092 2,641,433 3,368,116 3,642,138 4,337,131 Public safety 19,327,886 18,461,031 20,277,045 21,259,359 23,379,730 23,513,886 23,805,434 24,526,394 25,260,769 28,025,047 Payment of sales tax to
City of Richmond (Note 1G) - 245,599 - - - - - - - -
Capital outlay 2,427,619 2,068,310 1,272,245 3,235,420 5,033,324 1,815,683 1,652,600 2,400,690 2,643,268 5,239,077 Debt Service
Principal 914,158 941,573 1,233,745 754,416 1,075,004 1,161,158 1,010,506 958,585 993,130 905,276 Interest and fiscal charges 874,280 850,250 921,281 800,605 827,463 841,589 888,569 743,237 636,500 608,569 Cost of issuance - - 522,407 - - - - - -
Total expenditures 38,294,007 37,373,454 40,832,703 43,541,570 49,474,238 46,117,377 43,513,814 47,470,431 50,868,776 59,134,960 Revenue Over (Under) expenditures 81,009 1,979,682 (594,932) (7,757,649) 300,664 1,058,445 10,037,987 9,485,889 8,110,809 2,535,459 Other Financing Sources (Uses):

Debt Proceeds - - 15,690,000 - - - - - - -
Debt premiums - - 1,694,909 - - - - - - -
Payments to escrow - - (17,384,909) - - - - - - -
Payment to Contra Costa County
- share of land sale - - - - - - (257,256) - - -
Loss on sale of land held for resale - - - - - - (371,500) - - - Proceeds from sale of capital assets - 7,290 - - - - - - - - Transfer in 2,688,549 2,592,090 1,194,371 1,426,901 3,506,366 1,718,961 4,672,166 4,581,534 1,333,536 4,427,795 Transfer out (2,342,230) (2,262,534) (1,211,562) (1,444,092) (3,529,556) (1,742,152) (4,668,495) (4,577,863) (1,329,865) (4,504,080) Debt issuance - - - - - - - - 150,000 -
Capital lease financing - - - - 116,121 302,439 - - - - Total other financing sources (uses) 346,319 336,846 (17,191) (17,191) 92,931 279,248 (625,085) 3,671 153,671 (76,285) Special items:

Advance to El Cerrito Successor Agency write-off - - - - - - (1,321,189) - - - Land Sale Proceeds to the Contra Costa County - - - - (3,457,547) - - - - - Land Sale Proceeds Transfers to Successor Agency Fund - - - - (1,202,453) - - - - - Gain on sale of land held for resale - - - 1,420,347 - - - - - Proceeds of sale of land from Contra Costa County - 800,755 - - - - Total extraordinary items - - - - (2,438,898) - (1,321,189) - - - Net Change in fund balance 427,328 $ 2,316,528 $ (612,123) $ (7,774,840) $ (2,045,303) $ 1,337,693 $ 8,091,713 $ 9,489,560 $ 8,264,480 $ 2,459,174 $ Debt service as a percentage of
non-capital expenditures 4.8% 4.9% 5.4% 3.6% 3.9% 4.4% 4.5% 3.6% 3.2% 2.8% Source: City Financial Statements
Note: This schedule contains trend information to help the reader understand how the City's financial performance and well being have changed over time.

Fiscal Year
Agenda Packet Page 166 of 206
City of El Cerrito Table 5
Net Assessed Value of Property
Last Ten Fiscal Years
Real Property Personal Property Total % Change
Fiscal Assessed Assessed Assessed From Total Direct
Year Value Value Value (1) Prior Year Rate (2)
2015 3,242,643,566 21,591,610 3,264,235,176 8.7% 1.0%
2016 3,566,630,684 22,782,122 3,589,412,806 10.0% 1.0%
2017 3,810,090,943 20,431,443 3,830,522,386 6.7% 1.0%
2018 4,070,176,177 19,170,357 4,089,346,534 6.8% 1.0%
2019 4,324,516,299 19,462,999 4,343,979,298 6.2% 1.0%
2020 4,578,246,770 21,498,246 4,599,745,016 5.9% 1.0%
2021 4,884,779,461 19,572,301 4,904,351,762 6.6% 1.0%
2022 5,108,805,259 18,572,935 5,127,378,194 4.5% 1.0%
2023 5,459,016,809 18,839,778 5,477,856,587 6.8% 1.0%
2024 5,794,012,816 21,268,595 5,815,281,411 6.2% 1.0%
Source: HdL Propety Tax ACFR report
Notes:
(1) Amounts are net of exemptions.

Assessed Value is determined based on California Proposition 13, as of January 1.

The State Constitution requires property to be assessed at one hundred percent of the most recent purchase price, plus an increment of no more than two percent annually, plus any local over-rides. These values are considered to be full market values. (2) California cities do not set their own direct tax rate. The state constitution establishes the rate at 1% and allocates a portion of that amount, by an annual calculation, to all the taxing entities within a tax rate area. $0
$250
$500
$750
$1,000
$1,250
$1,500
$1,750
$2,000
$2,250
$2,500
$2,750
$3,000
$3,250
$3,500
$3,750
$4,000
$4,250
$4,500
$4,750
$5,000
$5,250
$5,500
$5,750
$6,000
$6,250
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Millions
Real Property Assessed Value Personal Property Assessed Value Agenda Packet Page 167 of 206
City of El Cerrito Table 6
Property Tax Levies and Collections
Last Ten Fiscal Years
Value of
City Property
City % Change Subject to
Fiscal Property Special Property Tax From Local
Year Tax Levy Assessments Bill Total/Collected (1) Prior Year Tax Rate 2015 8,799,514 1,908,856 10,708,370 9.3% 3,286,691,468
2016 9,843,212 2,142,122 11,985,334 11.9% 3,589,412,806 2017 8,844,201 2,141,740 10,985,941 -8.3% 3,830,522,386 2018 7,765,728 2,110,456 9,876,184 -10.1% 4,089,346,534 2019 8,256,068 2,112,686 10,368,754 5.0% 4,343,979,298
2020 8,694,410 2,132,185 10,826,595 4.4% 4,599,745,016
2021 9,263,625 2,128,244 11,391,869 5.2% 4,904,351,762
2022 9,773,075 2,151,037 11,924,112 4.7% 5,127,378,194
2023 10,414,459 2,146,099 12,560,559 5.3% 5,477,856,587 2024 10,835,771 2,145,690 12,981,461 3.4% 5,815,281,411 Source: Contra Costa County Auditor-Controller’s Office. Amount are net of collection fees.

Notes: (1) The City receives property tax revenues, and the City's Redevelopment Agency receives incremental property taxes pursuant to an arrangement with the County known as the "Teeter Plan" whereby the County assumes responsibility for the collection of delinquent taxes and pays the full allocation to the City. $0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
2015 2016 2017 2019 2020 2021 2022 2023 2024
Thousands
Property Tax Bill Total/Collected (1)
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Value of City Property
Agenda Packet Page 168 of 206
City of El Cerrito Table 7
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
Bay Area Contra Costa East Bay East Bay Richmond West Contra Total Contra Rapid Community Municipal Regional Retirement Costa Unified Direct and Total Fiscal Costa Transit College Utilities Park School Overlapping Direct Year County District District District Districts Districts Tax Rates (1) Rate 2015 1.00000 0.00450 0.02520 0.00470 0.00850 0.28030 1.32320 0.22288 2016 1.00000 0.00260 0.02200 0.00340 0.00670 0.27810 1.31280 0.22670 2017 1.00000 0.00800 0.01200 0.00280 0.00320 0.26040 1.28640 0.22642 2018 1.00000 0.00840 0.01140 0.00110 0.00210 0.23970 1.26270 0.22619 2019 1.00000 0.00700 0.01100 0.00210 0.23900 1.25910 0.22601 2020 1.00000 0.01200 0.01880 0.00940 0.23790 1.27810 0.22586 2021 1.00000 0.01390 0.01610 0.00140 0.14000 0.24320 1.41460 0.22562 2022 1.00000 0.00600 0.01760 0.00200 0.29390 1.31950 0.22551 2023 1.00000 0.01400 0.01620 0.00580 0.25640 1.29240 0.22325 2024 1.00000 0.01340 0.01460 0.00570 0.24640 1.28010 0.22319 Source: HdL Report page 8
Notes:
( 1 ) Rates are per $100 of assessed value.
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
Per Hundred $
West Contra Costa Unified School District East Bay Regional Park District Bay Area Rapid Transit West County Sanitary/Wastewater Basic County Wide Levy $0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Direct and Overlapping Tax Rates
Bay Area Rapid Transit District Contra Costa Community College District East Bay Municipal Utilities District East Bay Regional Park Districts Total Direct and Overlapping Tax Rates (1) Contra Costa County Agenda Packet Page 169 of 206
City of El Cerrito Table 8
Principal Property Taxpayers
Current Year and Nine Years Ago
2023-2024 2014-2015
Percentage Percentage
of Total City of Total City
Taxable Taxable Taxable Taxable
Assessed Assessed Assessed Assessed
Taxpayer Value Rank Value Value Rank Value
MCD-RCCA El Cerrito LLC $105,181,689 1 1.81% $89,118,277 1 2.73% KMF X El Cerrito LLC 63,061,405 2 1.08%
El Cerrito Shopping Center LLC 44,060,354 3 0.76% 17,693,986 3 0.54% HD Reliant Mayfair LLC 43,252,074 4 0.74%
Del Norte Place Apartments LP 40,491,775 5 0.70%
Creekside Walk Ventures LLC 32,261,562 6 0.55%
Save Mart Portfolio Own NLP California 27,365,588 7 0.47% San Pablo Playland Apartments 26,090,087 8 0.45%
Peak Del Norte LLC 23,651,505 9 0.41%
Civic Plaza Riley Group LLC 18,505,119 10 0.32% 15,628,884 5 0.48% KW El Cerrito LLC 46,739,834 2 1.43%
MG Garden View Apartments LP 17,619,279 4 0.54%
Lucky FLA NORCAL Investor LLC 14,840,000 6 0.45%
Pepper Lane SE Square Loop 14,502,073 7 0.44%
Longs Drugs Stores INC 10,754,628 8 0.33%
St Johns Land Partnership 10,458,046 9 0.32%
El Cerrito Municipal Services 7,381,427 10 0.23%
Subtotal $423,921,158 7.29% $244,736,434 7.50%
Total Net Assessed Valuation:

Fiscal Year 2022-2023 & 2013-2014 $5,815,281,411 $ 3,264,235,176 Source: HdL
Agenda Packet Page 170 of 206
City of El Cerrito Table 9
Revenue Bond Coverage
2002 Lease Revenue Bonds and 2012 Lease Revenue Refunding Bonds Last Ten Fiscal Years
Debt Service Requirements
Fiscal Taxes and
Year Assessments (1) Principal (3) Interest (3) Total Coverage 2015 439,508 323,300 40,024 363,324 1.21 (2)
2016 668,220 328,200 33,640 361,840 1.85
2017 667,971 332,300 27,167 359,467 1.86
2018 654,469 340,800 20,570 361,370 1.81
2019 633,080 343,500 13,864 357,364 1.77
2020 646,806 350,400 7,064 357,464 1.81
2021 (4) 185,200 1,815 187,015
2022 (4) 300,000 276,763 576,763
2023 (4) 310,000 267,763 577,763
2024 (4) 320,000 255,363 575,363
Notes:
(1) Includes all taxes and assessments from the Measure A Parcel Tax Fund 206 (2) The 2002 Lease Revenue Bonds were refunded and retired by the 2012 Lease Revenue Refunding Bonds during the fiscal year. Retirements exclude the refunded bond principal and interest of $2,685,000 and $65,181, respectively.
(3) Include debt service payment in Fund 834
(4) The debt was paid off in FY2021 with the reserve amount.

Source: City of El Cerrito Annual Financial Statements

0.00 5.00

10.00 15.00

20.00 25.00
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Coverage
Agenda Packet Page 171 of 206
City of El Cerrito Table 9
Revenue Bond Coverage
Sales Tax Revenue Bonds
Last Ten Fiscal Years
Debt Service Requirements
Fiscal Taxes and
Year Assessments (1) Principal (3) Interest (3) Total Coverage 2015 1,399,734 270,000 466,408 736,408 1.90
2016 1,800,599 280,000 457,228 737,228 2.44
2017 1,428,094 290,000 447,078 737,078 1.94
2018 $1,590,085 $315,000 $385,700 (2) $700,700 2.27
2019 $1,630,826 $325,000 $379,400 $704,400 2.32
2020 $1,631,894 $330,000 $372,900 $702,900 2.32
2021 $1,881,749 $340,000 $366,300 $706,300 2.66
2022 $1,809,481 $350,000 $356,099 $706,099 2.56
2023 $2,316,365 $360,000 $342,100 $702,100 3.30
2024 $2,154,278 $380,000 $327,700 $707,700 3.04
Notes:
(1) Includes all taxes and assessments from the Street Improvement Fund 211. (2) The 2008 Sales tax revenue bonds were refinanced in FY17. Interest in FY18 is for the 2017 Refinanced Sales tax bonds.
(3) Include debt payments from Fund 836.

Agenda Packet Page 172 of 206
City of El Cerrito Table 9
Bonded Debt Pledged Revenue Coverage
Tax Allocation Bonds
Last Ten Fiscal Years
Tax Debt Service Requirements
Fiscal Increment
Year Revenue Principal Interest Total Coverage
2015 2,826,462 (3) 1,315,000 (4) 730,820 (4) 2,045,820 1.38 2016 2,195,420 (3) 1,425,000 (4) 670,676 (4) 2,095,676 1.05 2017 788,216 (3) 1,530,000 (4) 52,705 (4) 1,582,705 0.50 2018 788,216 (5) - - - NA
2019 2,138,127 856,583.85 856,583.85 2.50
2020 2,554,468 1,559,000 321,351 1,880,351 1.36
2021 2,382,794 1,791,984 268,640 2,060,624 1.16
2022 2,094,578 1,909,309 198,531 2,107,840 0.99
2023 2,132,794 1,957,533 186,650 2,144,183 0.99
2024 2,376,718 2,006,975 120,415 2,127,390 1.12
Source: City of El Cerrito Annual Financial Statements
Notes: (1) Includes the 1997, 1998 and 2004 Tax Allocation Bonds (2) Due to the dissolution of the Redevelopment Agency effective February 1, 2012, the Tax Allocation Bonds were transferred to the Successor Agency and tax increment revenue reported in this schedule includes both tax increment collected by the Redevelopment Agency and property taxes collected by the Successor Agency. (3) Includes property taxes collected by the Successor Agency Fund 780 (4) Debt service is paid by the Successor Agency.
(5) All the tax allocation bonds were refinanced in FY2017, and there is no debt service requirement for them in FY18 $500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
$5,500,000
$6,000,000
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Series1 Series4
Agenda Packet Page 173 of 206
City of El Cerrito Table 10
Ration of Outstanding Debt by Type
Last Ten Fiscal Years
Tax 2017 COP 2017 Sales Tax Acquisition/ Total
Fiscal Allocation Revenue Financed Revenue Developer Governmental Year Bonds Bonds Purchases Bonds Notes Activities
2015 (b) 10,235,400 1,925,719 10,020,000 (b) 22,181,119 2016 (b) 9,667,200 1,713,138 9,740,000 (b) 21,120,338
2017 (b) 8,259,900 1,495,838 8,650,000 (b) 18,405,738
2018 (b) 7,040,000 1,273,713 8,335,000 (b) 16,648,713 (C) 2019 (b) 6,760,000 1,046,649 8,010,000 (b) 15,816,649 (C) 2020 (b) 6,475,000 1,180,596 7,680,000 (b) 15,335,596 (C) 2021 (b) 6,180,000 990,291 7,340,000 (b) 14,510,291 (C) 2022 (b) 5,880,000 907,386 6,990,000 (b) 13,777,386 (C) 2023 (b) 5,570,000 1,781,146 6,630,000 (b) 13,981,146 (C) 2024 (b) 5,250,000 1,474,237 6,250,000 (b) 12,974,237 (C) Business-Type
Activities
Revenue Total Percentage
Fiscal Financed Refunding Primary of Personal Per
Year Purchases Bonds Government Income (a) Capita (a)
2015 2,833,400 516,248 25,530,767 3% 1,060
2016 2,593,600 405,057 24,118,995 2% 1,000
2017 2,347,900 291,878 21,045,516 2% 843
2018 2,647,698 176,676 19,473,087 1% 790
2019 59,414 1,838,200 17,714,263 1% 696
2020 405,049 1,573,800 17,314,445 1% 694
2021 330,775 1,309,400 16,150,466 1% 647
2022 742,786 1,025,600 15,545,772 1% 605
2023 585,442 741,400 15,307,988 1% 595
2024 422,833 450,200 13,847,270 0% 542
Note : Debt amounts exclude any premiums, discounts, or other amortization amounts.

Sources: City of El Cerrito
State of California, Department of Finance (population) U.S. Department of commerce, Bureau of the Census (income) (a) See Schedule Demographic Statistics for personal income and population data. (b) Due to the dissolution of Redevelopment Agencies effective February 1, 2012, the Tax Allocation Bonds and the Acquisition/Developer Notes were transferred to the Successor Agency.
(c) Excluding bond premium/discount
Governmental Activities
Agenda Packet Page 174 of 206
City of El Cerrito Table 11
Computation of Legal Bonded Debt Margin
30-Jun-24
ASSESSED VALUATION:

Secured property assessed value, net of
exempt real property $5,815,281,411
BONDED DEBT LIMIT (3.75% OF ASSESSED VALUE) (a) $872,292,212 AMOUNT OF DEBT SUBJECT TO LIMIT:

Total Bonded Debt $13,040,448 (b)
Less Tax Allocation Bonds and Revenue Bonds,
Financed purchases are not subject to limit 13,040,448
Amount of debt subject to limit -
LEGAL BONDED DEBT MARGIN $872,292,212
Total net debt
Total Net Debt Legal applicable to the limit
Fiscal Debt Applicable to Debt as a percentage
Year Limit Limit Margin of debt limit
2015 493,003,720 493,003,720
2016 538,411,921 538,411,921
2017 574,578,358 574,578,358
2018 613,401,980 613,401,980
2019 651,596,895 651,596,895
2020 689,961,752 689,961,752
2021 735,652,764 735,652,764
2022 769,106,729 769,106,729
2023 821,678,488 821,678,488
2024 872,292,212 872,292,212
NOTE:
(a) California Government Code, Section 43605 sets the debt limit at 15%. The Code section was enacted prior to the change in basing assessed value to full market value when it was previously 25% of market value. Thus, the limit shown as 3.75% is one-fourth the limit to account for the adjustment of showing assessed valuation at full cash value.
(b) ACFR Long term debt schedule
Agenda Packet Page 175 of 206
City of El Cerrito Table 12
Direct and Overlapping Governmental Activities Debt
As of June 30, 2024
2023-24 Assessed Valuation: $5,815,281,411 Estimated Share of Direct and
Total Debt at Overlapping Debt
OVERLAPPING TAX AND ASSESSMENT DEBT: % Applicable (1) June 30, 2024 at June 30, 2024 Bay Area Rapid Transit District 0.576% $ 2,445,575,000 $ 14,086,512 Contra Costa Community College District 2.175% $ 618,770,000 $ 13,458,248 West Contra Costa Unified School District 14.077% $ 1,107,363,504 $ 155,883,560 East Bay Regional Park District 0.905% $ 144,520,000 $ 1,307,906 West Contra Costa Healthcare District Parcel Tax Obligations 13.206% $ 41,605,000 $ 5,494,356 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT $ 190,230,582 DIRECT AND OVERLAPPING GENERAL FUND DEBT:

Contra Costa County General Fund Obligations 2.168% $ 171,495,000 $ 3,718,012 Alameda-Contra Costa Transit District Certificates of Participation 1.707% $ 10,420,000 $ 17,869 West Contra Costa Unified School District General Fund Obligations 14.077% $ 3,205,000 $ 451,168 City of El Cerrito General Fund Obligations 100.00% $ 5,250,000 $ 5,250,000 TOTAL GROSS DIRECT AND OVERLAPPING GENERAL FUND DEBT $ 9,597,049 Less: Contra Costa County obligations supported by revenue funds $ 881,017 TOTAL NET DIRECT AND OVERLAPPING GENERAL FUND DEBT $ 8,716,032 OVERLAPPING TAX INCREMENT DEBT (Successor Agencies): 100% $ 3,105,909 $ 3,105,909 TOTAL DIRECT DEBT $ 5,250,000
TOTAL GROSS OVERLAPPING DEBT $ 197,683,540
TOTAL NET OVERLAPPING DEBT $ 196,802,523
GROSS COMBINED TOTAL DEBT $ 202,933,540 (2)
NET COMBINED TOTAL DEBT $ 202,052,523
Ratios to 2023-24 Assessed Valuation:

Direct Debt ($5,250,000) 0.09%
Total Overlapping Tax and Assessment Debt 3.27%
Combined Total Debt 3.49%
Net Total Debt 3.47%
Ratio to Successor Agency Redevelopment Incremental Valuation ($1,069,532,722):

Overlapping Tax Increment Debt 0.29%
Source Data: California Municipal Statistics, Inc.
(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, sales tax revenue and non-bonded capital lease obligations.

Agenda Packet Page 176 of 206
City of El Cerrito Table 13
Demographic and Economic Statistics
Last Ten Fiscal Years
Total Median Median Public Contra Costa City
Calendar City Personal Population Household Unemployment School County Population Year Population (1) Income (2) Age (1) Income (1) Rate (1) Enrollment (3) Population (1) % of County 2015 24,115 1,053,560,000 44.4 43,689 5.4% (6) 1,102,871 2.19% 2016 24,954 1,138,226,802 44.4 45,613 4.4% (6) 1,126,745 2.21% 2017 24,600 1,113,784,000 43.8 45,275 3.9% (6) 1,139,429 2.16% 2018 24,646 2,283,944,820 43.6 92,670 4.2% (6) 1,149,363 2.14% 2019 25,459 2,556,643,698 43.6 100,422 4.2% (6) 1,155,879 2.20% 2020 24,953 2,505,830,166 43.6 100,422 13.4% (6) 1,155,879 (4) 2.16% 2021 24,953 2,702,359,994 43.6 (4) 108,298 (5) 4.2% 4,310 (8) 1,159,540 (7) 2.15% 2022 25,710 3,004,856,250 42.0 (4) 116,875 4.2% (4) 4,310 (4) 1,151,798 2.23% 2023 25,484 3,068,630,376 41.8 (4) 120,414 3.7% 4,153 (8) 1,147,653 2.22% 2024 25,552 3,076,818,528 41.8 (4) 120,414 3.2% 4,152 (8) 1,155,025 2.21% Sources: (1) State Controller's Office RMRA remittance
US Census : https://www.census.gov/quickfacts/elcerritocitycalifornia Areavibes https://www.areavibes.com/el+cerrito-ca/employment/ Department of Finance Press release
(2) Data not available, therefore it has been calculated by multiplying the City population by the Median Household Income. (3) West Contra Costa County Unified School District.
(4) Not Available, Same as Last year
(5)
https://www.areavibes.com/el+cerrito-ca/employment/
(6) Data Not Available
(7) https://worldpopulationreview.com/us-counties/ca/contra-costa-county-population (8) publicschoolreview.com
The big increase in public school enrollment is a private school site turned to a summit public charter school https://www.labormarketinfo.edd.ca.gov/serp.html?q=el+cerrito Agenda Packet Page 177 of 206
City of El Cerrito Table 14
Principal Employers
Last Fiscal Year and Nine Years Ago
Business Name Rank
Number of
Employees
Percent of Total
Employment (%) Rank
Number of
Employees
Percent of Total
Employment (%)
City of El Cerrito 1 170 1.26% 3
Safeway Store 2 161 1.19% 16
Ross Dress for Less 3 103 0.76%
Marshalls 4 76 0.56%
Lucky's 5 74 0.55% 9
El Cerrito Honda 6 70 0.52% 8
FatApple's Restaurant 7 67 0.50% 6
Berkeley Country Club 8 65 0.48% 10
McDonalds 9 51 0.38%
Shields Nursing Center 10 42 0.31% 17
DD's Discounts 11 36 0.27%
Denny's 12 34 0.25%
CVS/Pharmacy 13 34 0.25% 4
Barnes & Noble 14 32 0.24% 1
Jack In The Box 15 30 0.22%
Total Top Employers 875 6.48%
Total Labor Force (1) 13,500
Source: 2014-15 previously published ACFR, only ranking available (1) Total City Labor Force provided by EDD Labor Force Data 2024
Source: City of El Cerrito Community Development
2015
Agenda Packet Page 178 of 206
City of El Cerrito Table 15
Full-Time Equivalent City Government Employees by Function Last Ten Fiscal Years
FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 2024 Function
General Government 20.00 22.50 22.50 22.50 17.50 17.50 21.00 20.00 21.00 22.00 Public Works 22.80 24.80 22.80 24.80 25.20 25.20 25.00 24.20 27.30 27.30 Recreation 23.00 23.00 22.00 23.00 23.00 23.00 21.00 18.00 20.00 20.00 Community Development 13.50 (a) 14.00 (a) 14.00 (a) 14.00 14.00 14.00 15.00 14.00 15.00 15.00 Public Safety 93.40 93.40 85.40 93.40 95.00 95.00 92.00 85.00 85.00 85.50 Total 172.70 177.70 166.70 177.70 174.70 174.70 174.00 161.20 168.30 169.80 Source: City of El Cerrito Adopted Budget FY24-25 FY 25-26 - Position Listing Notes: (a) Includes Environmental Services Division

0.00 20.00

40.00 60.00

80.00 100.00
120.00
140.00
160.00
180.00
FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 2024 FTE's
General Government Public Works Recreation Community Development Public Safety Agenda Packet Page 179 of 206
CITY OF EL CERRITO Table 16
Operating Indicators by Function/ Program
Information as available - Last Ten Fiscal Years
Fiscal Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Function/ Program
Community Development:

Planning:

Number of Permits 122 163 174 187 183 164 160 167 123 124 Building:

Permits Issued 1,148 1,164 1,167 1,304 1,263 1,126 1,204 1,580 1,271 1,284 Annual Inspections 9,272 8,824 8,959 8,715 7,918 8,080 6,288 7,373 7,097 5,261 Public Safety:

Fire:

Number of Responses 3,018 3,326 3,451 3,553 3,516 3,620 3,762 4,189 4,695 4,458 Police:

Number of Responses 33,376 23,855 25,834 26,011 26,810 22,962 24,886 18,452 * 18,276 23,647 Recreation: **
Activity Category Enrollments
60 & Better!
Enrollments by Session 2,166 1,913 1,374 1,245 933 707 103 142 201 269 Enrollments By Day 0 268 250 135 584 2,228 789 4,323 6,152 6,814 Adults
Enrollments by Session 3,275 2,878 2,566 2,523 2,395 2,471 4,483 2,662 3,487 3,162 Enrollments By Day 0 419 764 1,002 1,925 1,566 28,846 3,926 3,816 5,479 Youth
Enrollments by Session 8,933 8,911 11,504 13,821 14,329 9,535 7,994 7,818 9,980 11,198 Enrollments By Day 87,413 74,564 66,404 70,087 63,167 46,921 5,859 45,945 41,661 44,309 Enrollments by Session: 1 enrollment = multiple classes per session Enrollments By Day: 1 enrollment = 1 class (i.e. drop-ins) Facility Category Reservations
Community Center 2,831 3,133 2,947 2,928 3,012 2,444 639 2,290 3,355 5,572 Swim Center 512 462 395 730 311 179 16,263 340 618 799
Parks & Clubhouses 6,903 7,731 7,508 8,859 8,303 9,009 9,216 9,551 9,327 12,007 Pass Type Transactions
Aquatics
Sales 3,787 4,024 3,614 2,650 2,941 2,357 114 4,426 2,897 3,132 Visits 54,265 37,732 34,452 26,596 31,118 23,269 0 45,666 42,774 45,821 Childcare Sales 0 49 115 114 782 691 0 450 385 396
Senior
Sales 0 0 0 0 0 0 0 77 68 93
Visits 2,055 1,839 1,645 1,893 1,085 0 0 338 345 378
Tennis Sales 150 144 150 62 0 5 25 2 24 9
Sales: Purchasing a pass
Visits: # of times pass used (if applicable - i.e. a punch pass) POS Type Sales
Admin
Inventory 0 0 0 0 0 2 130 396 400 378
Service 0 4 4 23 24 29 8 120 41 40
Adult Service 0 109 94 148 206 85 0 8 17 76
Aquatics
Inventory 73 610 673 619 609 414 2 164 262 214
Service 5,463 37,947 29,549 28,191 26,195 19,196 12 32,711 24,748 31,608 Senior Service 0 1 0 0 2,176 1,471 602 355 299 245
Special Event
Inventory 0 0 0 0 0 0 0 0 0 17
Service 0 583 712 1,126 35 887 0 2 137 60
Youth Service 0 7 14 12 10 12 21 23 26 20
Inventory: Sales of goods (i.e. goggles)
Service: Program Drop-Ins (i.e. lap swim)
* The Police Department reported reduced calls for service due to COVID. **Recreation statistics format changed for FY 2023-24 due to a new system and analytics design.

Source: City of El Cerrito departments
Agenda Packet Page 180 of 206
CITY HALL 10890 San Pablo Avenue, El Cerrito, CA 94530
Telephone (510) 215-4305 Fax (510) 215-4379 http://www.el-cerrito.org

SUPPLEMENTAL AGENDA MATERIALS

CITY COUNCIL MEETING
February 4, 2025
(revised 2/4/2025)
REGULAR CITY COUNCIL MEETING (6:00 PM)
Public Comments (Not on the Agenda and Consent Calendar) Agenda Item No. 9.A. – FY 2024-25 Second Quarter General Fund Budget Update

1. Presentation
Agenda Item No. 9.B. – FY 2023-24 Annual Comprehensive Financial Report (ACFR)

1. Presentation

2. Public Comments
Supplemental Materials Page 1 of 26
Agenda Packet Page 181 of 206
 

 






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General Public Comments
Supplemental Materials Page 2 of 26
Agenda Packet Page 182 of 206
From: Cordell Hindler
To: City Clerk
Subject: Public Comments
Date: Thursday, January 30, 2025 3:06:21 PM
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Good Morning Mayor Wysinger, Council Members and Staff, I AM Submitting the Following Comments into the Record:

1. I hope that the Council should look into generate more revenue into fixing the city streets

2. Also to Improve More Economic Development at the Plaza Bart Station Sincerely
Cordell
Supplemental Materials Page 3 of 26
Agenda Packet Page 183 of 206
From:

To: City Clerk
Subject: Public comments
Date: Tuesday, February 4, 2025 11:15:27 AM
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Dear El Cerrito City Council,
I am writing because I understand there is a plan to add bike lanes to Richmond Avenue north of Moeser and I wish to state my ENTHUSIASTIC SUPPORT for that plan. I live across the street from Korematsu Middle School and El Cerrito has an acute need for safer streets around our schools so that students can get to middle and high school on their own and not in their parents' private automobiles. We should be actively seeking out ways to make safe travel by foot and bike easier, and if that means we can't keep letting drivers use our public roadways as their personal storage for their cars, I'm entirely fine with that. Our family does own a car, but I see the chaos on the street outside my house every morning and afternoon as kids get dropped off for school and it blows my mind that we can't find a better way. My own kids found getting to ECHS very unsafe and inconvenient; the options were biking up and over Navallier (very steep hill and filled with cars heading to Prospect Sierra), Richmond Avenue to Moeser to Ashbury (flat but filled with cars with families heading to Fairmont, Harding, ECHS and up the hill to Madera) or the long way around by the Ohlone Greenway (and then the west-east roads filled with cars heading up Eureka and Lincoln to ECHS). A protected bike path on Richmond would be a great start to unclogging our streets and making El Cerrito a sustainable and equitable city for everyone.

Sincerely,
Coriander Reisbord
El Cerrito
Supplemental Materials Page 4 of 26
Agenda Packet Page 184 of 206
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From: STEVEN PRICE
To: City Clerk
Subject: Support for Richmond Street as a street for all Date: Tuesday, February 4, 2025 11:40:03 AM
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Dear El Cerrito City Council,
El Cerrito and America in general are loosing the fight to reduce greenhouse gas emissions from transportation. A recent Department of Transportation's report to Congress projects no significant reductions in GHG emissions from transportation between now and 2050. This is frightening. El Cerrito must work to provide the means for El Cerritans to travel locally without dependency on driving cars. The data shows that about 30% of the population does not have a drivers license. Many of us cannot afford a car, should not be driving, or simply wish to be free of obligatory car ownership: students, children, seniors past the age of driving, those who wish to reduce their cost of living, and those who want to do their part in reducing climate change. Some people claim that older people need a parking space directly in front of their house, yet millions of seniors worldwide manage without that luxury. I do not propose removing all on-street parking from Richmond Street, but the desire to park cars on the street must be balanced with the mobility needs of everyone.

Sincerely,
Steve Price
El Cerrito, CA
Supplemental Materials Page 5 of 26
Agenda Packet Page 185 of 206
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From: Carrie Schulman
To: City Clerk
Subject: public comments – not on the agenda
Date: Tuesday, February 4, 2025 12:33:03 PM
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Dear El Cerrito City Council,
My spouse and I have lived in El Cerrito for 15 years. We are now raising our two children, ages 12 and 10, in this community.

I am writing to express my strong support for the addition of bike lanes on Richmond Street.

Due to the large PG&E substation on Schmidt Street, Richmond Street provides the last relatively flat east-west route before the hills. This makes it a critical corridor for accessing Korematsu Middle School, our Community Center, and Cerrito Vista Park—places that form the heart of El Cerrito.

Some may argue that cyclists should instead use the Ohlone Greenway. However, traveling down to the Greenway and then back up is significantly less direct.

For example, for someone living on Moeser just north of Richmond Street, the route to Korematsu Middle School via Richmond Street is about half a mile. Taking the Ohlone Greenway instead essentially doubles that distance. While this might seem like a small difference to those driving cars, it has a real impact on people biking—especially children commuting to school every day.

Given that this is a key school route, fully protected bike lanes would have been ideal.

However, achieving that would require eliminating all parking on Richmond Street. Instead, the developers have taken a balanced approach, designing unprotected lanes while preserving half of the on-street parking.

Their decision was informed by multiple parking surveys, which showed that less than half of the available street parking is actually used. Additionally, they have held several meetings with residents and will be alternating which side of the street allows parking to accommodate community needs.

It’s important to remember that El Cerrito already requires every residence to have at least two off-street parking spaces. Our streets are a shared public resource that should be used efficiently. Reserving space for unused parking—at the expense of safe, accessible bike infrastructure—is not the best use of this valuable public space.

I urge you to continue supporting the developer’s fair and balanced plan to add bike lanes to Richmond Street.

Thank you for your time and consideration.

Best regards,
Carrie Schulman
Supplemental Materials Page 6 of 26
Agenda Packet Page 186 of 206
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From:

To: City Clerk
Subject: Public comment – not on the agenda
Date: Tuesday, February 4, 2025 12:58:18 PM
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Hello,
I'm writing in support of the Richmond Street Complete Streets Project, particularly the section North of Moeser Lane, meant to upgrade the existing bike/car shared travel lanes to separate dedicated lanes for bikes and cars. Improved safety for all modes of travel and traffic calming are paramount to make El Cerrito more welcoming for all.

Kind regards,
Logo Dani Lanis (he/him/el)
Advocacy Manager
************
Supplemental Materials Page 7 of 26
Agenda Packet Page 187 of 206
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From: Justin
To: City Clerk
Subject: public comments - not on the agenda
Date: Tuesday, February 4, 2025 1:00:12 PM
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Dear Council,
As a Harding parent and future Korematsu parent, I am looking with concern at the current state of the bicycle network. My kids will have to detour with additional elevation and cross Richmond Street twice each way to utilize the Ohlone Greenway, or ride along Richmond Street between Portola and Schmidt with no separation from motorists. With 8000+ vehicles a day on Richmond Street, neither of those are great options.

The East Side Bicycle Boulevard envisioned in the Active Transportation Plan is meant to serve the schools and residents east of Richmond Street with a safe and comfortable bicycle facility. For the foreseeable future, the route relies on a segment of Richmond Street where the streets between Richmond and Navalier stop. To make this connection safely with the motorist volumes served by Richmond Street will require some of the roadway width now used for parking private vehicles.

I know the Richmond Complete Streets project involves consideration of important trade-offs. But there are times when the safety benefits outweigh convenience. It is always hard when the benefits are dispersed while the costs are localized. At these times, we need to remember the broader mobility and climate goals we have set as a city and all of the needs served by our city streets. Please support city staff as they develop these critical projects to implement your policies.

Thank you for your consideration.

Justin Fried
Supplemental Materials Page 8 of 26
Agenda Packet Page 188 of 206
From: Fred Bialy
To: City Clerk
Subject: Public Comment - Not on the agenda
Date: Tuesday, February 4, 2025 1:18:50 PM
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Dear Mayor Wysinger and City Council Members Ktsanes, Motoyama, Quinto and Saltzman, I’m writing to voice support for the presence of bike lanes in the design of Richmond Ave Complete Streets project.

I am an avid bicycle rider, for recreation, but also for errands in El Cerrito. I ride on Richmond Avenue, but with trepidation in its current state. Without dedicated bike lanes, I feel vulnerable to the vehicle traffic that typically goes well above the 25 mph speed limit. The street calming features in the design will make it a much safer street for bicyclists (and pedestrians too). A dedicated bike lane will create a clear separation between cars and bicyclists and be a reminder to vehicles that they are driving on a shared roadway. The loss of some of the street parking will not be so great to exceed the historical pattern for parking along the curb. I also look forward to the resurfacing that will make the road safer and more comfortable for bicyclists.

Fred Bialy
El Cerrito Resident
Supplemental Materials Page 9 of 26
Agenda Packet Page 189 of 206
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From: James Yang
To: City Clerk
Subject: Public Comments - Not On The Agenda
Date: Tuesday, February 4, 2025 1:51:00 PM
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Dear City Clerk,
Please see below my public comments regarding the Richmond street preliminary design changes.

The preliminary design for Richmond Street presents a vital opportunity to create a safer and more accessible corridor for everyone in El Cerrito, especially cyclists and pedestrians. This plan prioritizes safety and long-term community benefits, even with necessary trade-offs in street space.

Here's why this project is so important:

Enhanced Cyclist Safety: Currently, cyclists on Richmond Street face dangerous conditions with shared lanes or no dedicated space. The proposed design directly addresses this, creating dedicated bike lanes north of Moeser Lane. This separation drastically reduces collision risks and encourages cycling—a healthy and sustainable transportation option.

Improved Pedestrian Safety: This project isn't just about bikes. Comprehensive intersection improvements, including corner bulb-outs, pedestrian-activated flashing lights, better lighting, and raised crosswalks, prioritize pedestrian safety. These measures shorten crossing distances, increase driver awareness, and slow traffic, creating a safer environment for everyone, particularly children, seniors, and people with disabilities. Street tree bulb-outs south of Moeser Lane offer similar traffic calming and pedestrian enhancements.

Traffic Calming for All: Proposed chicanes and street tree bulb-outs are proven traffic calming measures. They'll slow vehicles, creating a more predictable and safer traffic flow for everyone, directly benefiting residents by reducing speeding and improving neighborhood livability.

Balancing Needs: The design recognizes limited street space and balances competing needs. While some on-street parking will be affected north of Moeser Lane, the design minimizes this while prioritizing a safe and functional bike lane. Safety and accessibility for all road users are paramount. Increased bike traffic can also positively impact local businesses.

Investing in Our Future: This project invests in El Cerrito's future. By creating a safer and more attractive environment for walking and cycling, we encourage healthier lifestyles, reduce traffic congestion, and promote environmental sustainability. These are long-term benefits that will improve the quality of life for all residents.

Regarding potential concerns:

Supplemental Materials Page 10 of 26
Agenda Packet Page 190 of 206
Parking Removal: While some parking removal is necessary, the significant safety and traffic calming benefits outweigh the loss of a limited number of spaces. We should also explore alternative parking solutions.

Cost: Infrastructure improvements require investment. However, the cost of inaction— in terms of accidents, injuries, and lost opportunities for a healthier community—is far greater. This project is a necessary investment in El Cerrito's safety and well-being.

In conclusion, the Richmond Street preliminary design is a well-considered approach to improving safety and accessibility. The benefits of dedicated bike lanes, enhanced pedestrian crossings, and traffic calming measures far outweigh any minor inconveniences. This project is a crucial step toward a more vibrant, healthy, and sustainable El Cerrito.

Sincerely,
James Yang
El Cerrito Resident
Supplemental Materials Page 11 of 26
Agenda Packet Page 191 of 206
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From: Sietse Braakman
To: City Clerk
Subject: In support of bike lanes on Richmond street
Date: Tuesday, February 4, 2025 2:03:39 PM
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Dear City Clerk,
I understand that the city of El Cerrito is planning to add bike lanes to Richmond Street, and that this is a topic of public comment at tonight's meeting.

As a cyclist with small kids, I wanted to voice my full support for bike lanes on Richmond Street. Bike lanes will create a safe transit corridor on Richmond Street across the city, will calm down traffic, will make Richmond Street a more pleasant and attractive street.

Sietse Braakman, resident
Supplemental Materials Page 12 of 26
Agenda Packet Page 192 of 206
February 4, 2025
General Fund Budget Update
Quarter ending December 31, 2024
Agenda Item No. 9.A.

Supplemental Materials Page 13 of 26
Agenda Packet Page 193 of 206
General Fund Budget Update - Revenue
• Revenue –
 Sales Tax – Report calls out Measure G separately
 Real Property Transfer Tax
• $1,142,806
 Use of Money and Property
• Interest income
• Rental charges
 Intergovernmental/Other Revenue/Other Financing Sources 2 Supplemental Materials Page 14 of 26
Agenda Packet Page 194 of 206
General Fund Budget Update - Revenue
3 Budget Amount YTD – Q2 Prior YTD – Q2
(Amended) Amount Actual Amount
Property Taxes $16,461,935 $6,229,490 38% $5,993,855
Sales Taxes 4,517,790 1,490,431 33% 1,400,263
Transient Occupancy Taxes 100,000 32,058 32% 25,353
Measure R Sales Tax 4,459,000 1,393,404 31% 1,366,271
Franchise Taxes 1,380,000 378,026 27% 619,999
Business License Taxes 1,182,817 1,091,059 92% 1,027,522 Property Transfer Taxes* 3,000,000 1,142,806 38% 891,844 Utility Users' Taxes 3,694,260 1,405,934 38% 1,374,064
Other Taxes 1,500 - 0% 1,769
Taxes Totals $34,797,302 $13,163,208 38% $12,700,940
Licenses & Permits 1,007,000 847,094 84% 701,895
Fines & Forfeitures 130,000 82,035 63% 98,232
Use of Money and Property 957,000 277,563 29% 344,411
Intergovernmental Revenues 5,334,401 2,748,080 52% 1,800,337 Charges for Services Totals 7,528,702 4,592,047 61% 4,503,760 Other Revenue Totals 630,000 174,578 28% 233,291
Other Financing Sources Totals 1,002,039 501,020 50% 488,591 Totals $51,386,444 $22,385,625 44% $20,871,457
Classification % of Budget
Supplemental Materials Page 15 of 26
Agenda Packet Page 195 of 206
General Fund Budget Update - Expenditures
Administration $7,729,678 $4,560,781 59% $4,623,611
Community Development $4,133,728 1,669,001 40% 2,097,631 Fire $15,338,246 8,357,032 54% 7,028,537
Non-departmental $882,691 395,703 45% 445,272
Police $15,052,742 7,283,638 48% 6,751,421
Public Works $2,481,847 1,113,544 45% 1,235,471
Recreation $6,728,467 3,318,918 49% 3,083,154
Total $52,347,399 $26,698,616 51% $25,265,097
Budget Amount
(Amended)

YTD - Q41
Amount % of Budget Prior YTD – Q2
Actual Amount Expenditures
Supplemental Materials Page 16 of 26
Agenda Packet Page 196 of 206
General Fund, Fund Balance
FY24 General Fund Fund Balance (actual) $ 22,893,338
EDRF (9,000,000)
Section 115 (1,372,890)
Non-Spendable (126,751)
FY24 Unrestricted Fund Balance 12,393,697
FY25 Projected Deficit (960,955)
Projected Total FY25 Fund Balance 21,932,383
EDRF (Internally Restricted) (9,000,000)
Section 115 (Restricted) (1,372,890)
Non-Spendable (126,751)
Projected FY25 Unrestricted Fund Balance 11,432,742
FY26 Expenditure Proposed Budget 53,764,017
FY26 17% Reserve Goal 9,139,883
Projected discretionary for FY25 midyear 2,292,860
FY 25 Projected Ending Total GF FB $ 21,932,383
Fund Balance Projection
FY24 PO Roll forward (603,425)
SEIU Contract (36,622)
PEA & PSMA Contracts (354,860)
Original surplus FY25 33,952
FY25 Projected Deficit (960,955)
FY25 Amendments
5 Supplemental Materials Page 17 of 26
Agenda Packet Page 197 of 206
General Fund Budget Update – Conclusion
• Revenue – 44 % of budget
 In-line with prior year first quarter
• Expenditures – 51%
 Increase in the prepayment of workers compensation
• Fund Balance – 41% total projected
 $11.4 million in unrestricted projected fund balance
 $2.3 million in discretionary projected fund balance
• Questions?
6 Supplemental Materials Page 18 of 26
Agenda Packet Page 198 of 206
Thank you!
Supplemental Materials Page 19 of 26
Agenda Packet Page 199 of 206
February 4, 2025
Annual Comprehensive Financial Report
Year ending June 30, 2024
Agenda Item No. 9.B.

Supplemental Materials Page 20 of 26
Agenda Packet Page 200 of 206
Government-wide Statement of Net Position
2 Supplemental Materials Page 21 of 26
Agenda Packet Page 201 of 206
Government-wide Changes in Net Position
3 Supplemental Materials Page 22 of 26
Agenda Packet Page 202 of 206
Governmental Funds – Change in Fund Balance
Supplemental Materials Page 23 of 26
Agenda Packet Page 203 of 206
General Fund Budget vs. Actual FY23/24
5 Supplemental Materials Page 24 of 26
Agenda Packet Page 204 of 206
Questions?
Thank you!
Supplemental Materials Page 25 of 26
Agenda Packet Page 205 of 206
From: Susi
To: City Clerk
Subject: Dip in reserve
Date: Thursday, January 30, 2025 3:33:16 PM
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Hello,
Could you please respond why the city dipped into our reserve if the revenue was above expenses? Please include this question and answer into the city council packet for public record.

Thank you,
Susi Polos
Supplemental Materials Page 26 of 26
Agenda Packet Page 206 of 206