Exhibit A ‐ City Leases
Fund Lease
Annual Lease
Payment Term Value Status
101 General Fund ECCL $1 66 years $ 66
Not subject to GASB 87 ‐ Operatingand Maintenance costs are not applicable to GASB 87
101 General Fund Gilman Fields 15,000 $ 25 years $ 375,000 Not subject to GASB 87 ‐ Based
upon 1. limit proposed and 2.
materiality to General Fund
101 General Fund Bridgecourt 25,000 $ 7 years $ 175,000 Being Terminated in June 2022,
Not subject to GASB 87
101 General Fund Copiers 6,450 $
Month to
Month $ 77,400
Not subject to GASB 87 ‐ Based
upon 1. limit proposed, 2.
currently month to month and 3.
materiality to General Fund
City of Emeryville Leases
Fund are most likely to hold leases. Materiality as determined by our external auditors is 2.5% of any Fund's expenditure.
The General Fund's materiality limit based upon the current budget is over $1.1 million and the Sewer Fund's materiality level in just over $400,000. Staff is therfore, proposing a $400,000 minimum threshold for the City. Should any other Fund in the future obtain a lease, staff will need to review the materiality level of any fund with a lease to ensure compliance with GASB 87.