Emeryville City Council
January 17, 2023

City of Emeryville CALIFORNIA
Annual Comprehensive Financial Report
YEAR ENDED JUNE 30, 2022
“30 Years Emeryville Art in Public Places”, various Artists on display at the Emeryville Civic Center, 1333 Park Avenue, Emeryville This Page Intentionally Left Blank

CITY OF EMERYVILLE, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2022
Prepared by:

FINANCE DEPARTMENT
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CITY OF EMERYVILLE, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2022

TABLE OF CONTENTS
Page
INTRODUCTORY SECTION:

Letter of Transmittal ..................................................................................................................................................... vii GFOA Award ............................................................................................................................................................ xvi List of City Officials ................................................................................................................................................... xvii Organizational Chart of City Departments .............................................................................................................. xviii Map of Emeryville ....................................................................................................................................................... xix BASIC FINANCIAL SECTION:

Independent Auditor’s Report .................................................................................................................................... 1 Management’s Discussion and Analysis .................................................................................................................... 5 Basic Financial Statements:

Government-wide Financial Statements:

Statement of Net Position ........................................................................................................................... 19 Statement of Activities ................................................................................................................................ 20 Fund Financial Statements:

Governmental Funds:

Balance Sheet .......................................................................................................................................... 24 Reconciliation of Governmental Fund Balances to the
Net Position of Governmental Activities ........................................................................................... 27 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ........... 28 Reconciliation of the Net Change in Fund Balances – Total Governmental Funds With the Statement of Activities ........................................................................................................ 30 Statement of Net Position – Proprietary Funds .......................................................................................... 32 Statement of Revenues, Expenses and Changes in Net Position – Proprietary Funds ............................... 33 Statement of Cash Flows – Proprietary Funds............................................................................................ 34

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CITY OF EMERYVILLE, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2022

TABLE OF CONTENTS
Page
BASIC FINANCIAL SECTION (Continued):

Fiduciary Funds:

Statements of Fiduciary Net Position .......................................................................................................... 36 Statement of Changes in Fiduciary Net Position ........................................................................................ 37 Notes to Basic Financial Statements ........................................................................................................... 39 Required Supplementary Information:

Budgetary Comparison Schedule – General Fund ............................................................................................ 93 Budgetary Comparison Schedule – Other Grants Special Revenue Fund ........................................................ 94 Budgetary Comparison Schedule – Housing Assets Special Revenue Fund .................................................... 95 Budgetary Comparison Schedule – Property Based Improvement District Special Revenue Fund ................. 96 Schedules of the City’s Proportionate Share of the Net Pension Liability:

Miscellaneous Plan .................................................................................................................................. 98 Safety Plan ............................................................................................................................................. 100 Schedules of Changes in Net Pension Liability and Related Ratios:

Emeryville Police Officers’ Association Retirement Enhancement Plan ............................................. 102 Schedules of Plan Contributions:

Miscellaneous Plan ................................................................................................................................ 104 Safety Plan ............................................................................................................................................. 106 Emeryville Police Officers’ Association Retirement Enhancement Plan ............................................. 108 Schedule of Changes in the Net OPEB Liability and Related Ratios ............................................................. 110 Schedule of OPEB Plan Contributions ............................................................................................................ 111 Notes to Required Supplementary Information ............................................................................................... 112 ii

CITY OF EMERYVILLE, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2022

TABLE OF CONTENTS
Page
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES:

Supplemental Information:

Non-major Governmental Funds:

Combining Balance Sheets ........................................................................................................................ 116 Combining Statements of Revenues, Expenditures, and Changes in Fund Balances ................................................................................................................................... 126 Budgetary Comparison Schedules – Nonmajor Special Revenue Funds:

Housing Community Development ........................................................................................................... 136 Cal-HOME Loan Program ......................................................................................................................... 137 Police Impound .......................................................................................................................................... 138 Catellus Contingent .................................................................................................................................... 139 Special Gas Tax Street Improvement ......................................................................................................... 140 General Plan Maintenance ......................................................................................................................... 141 Child Development .................................................................................................................................... 142 Measure B .................................................................................................................................................. 143 Measure BB ................................................................................................................................................ 144 Transportation Impact Fee ......................................................................................................................... 145 Park/Rec Impact Fee .................................................................................................................................. 146 Affordable Housing Impact Fee ................................................................................................................. 147 Supplemental Law Enforcement ................................................................................................................ 148 Emergency Medical Services ..................................................................................................................... 149 Recycling/Source Reduction ...................................................................................................................... 150 Measure D .................................................................................................................................................. 151 Emeryville Public Art ................................................................................................................................ 152 Information Technology ............................................................................................................................. 153 PEG Program Fund .................................................................................................................................... 154 Urban Forestry Fee ..................................................................................................................................... 155 Affordable Housing .................................................................................................................................... 156 Environmental Program ............................................................................................................................. 157 Road Maintenance and Rehabilitation ....................................................................................................... 158 Measure B-VRF ......................................................................................................................................... 159 Measure F ................................................................................................................................................... 160 Parking Program ........................................................................................................................................ 161

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CITY OF EMERYVILLE, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2022

TABLE OF CONTENTS
Page
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued):

Budgetary Comparison Schedules – Capital Projects Funds:

General Capital Improvements .................................................................................................................. 162 1999 Revenue Bond ................................................................................................................................... 163 Marina Improvement .................................................................................................................................. 164 Emeryville Center of Community Life ...................................................................................................... 165 Implementation Plan 2010-14 .................................................................................................................... 166 Pedestrian Path Improvement .................................................................................................................... 167 Major Maintenance .................................................................................................................................... 168 Vehicle Replacement ................................................................................................................................. 169 RDA Bond .................................................................................................................................................. 170 Developer Contributions ............................................................................................................................ 171 Budgetary Comparison Schedule – Debt Service Fund:
1998 Lease Revenue Series A Bond .......................................................................................................... 172 Internal Service Funds:

Combining Statement of Net Position ....................................................................................................... 174 Combining Statements of Revenues, Expenses and Changes in Fund Net Position ................................ 176 Combining Statements of Cash Flows ...................................................................................................... 178 Custodial Funds:

Combining Statement of Fiduciary Net Position ...................................................................................... 182 Combining Statement of Changes in Fiduciary Net Position ................................................................... 183 Private-Purpose Trust Funds:

Combining Statement of Net Position ....................................................................................................... 186 Combining Statement of Changes in Fiduciary Net Position ................................................................... 187 iv

CITY OF EMERYVILLE, CALIFORNIA

ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2022

TABLE OF CONTENTS
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STATISTICAL SECTION:

Net Position by Component – Last Ten Fiscal Years ...................................................................................... 190 Changes in Net Position – Last Ten Fiscal Years ............................................................................................ 192 Fund Balances, Governmental Funds – Last Ten Fiscal Years ....................................................................... 196 Changes in Fund Balances, Governmental Funds – Last Ten Fiscal Years .................................................... 198 Assessed Value and Estimated Actual Value of Taxable Property – Last Ten Fiscal Years .......................... 201 Assessed Value of Property by Use Code, Citywide - Last Ten Fiscal Years ................................................ 202 Direct and Overlapping Property Tax Rates – Last Ten Fiscal Years ............................................................ 204 Principal Property Tax Payers – Current Year and Nine Years Ago .............................................................. 205 Property Tax Levies and Collections – Last Ten Fiscal Years ........................................................................ 206 Ratio of Outstanding Debt by Type – Last Ten Fiscal Years .......................................................................... 207 Ratios of General Bonded Debt Outstanding – Last Ten Fiscal Years ........................................................... 208 Statement of Direct and Over Lapping Bonded Debt ...................................................................................... 209 Legal Debt Margin Information – Last Ten Fiscal Years ............................................................................... 210 Pledged-Revenue Coverage – Last Ten Fiscal Years ...................................................................................... 212 Demographic and Economic Statistics – Last Ten Fiscal Years ..................................................................... 213 Principal Employers – Current Year and Nine Years Ago .............................................................................. 214 Full-Time-Equivalent City Government Employees by Function/Program – Last Ten Fiscal Years ............ 215 Operating Indicators by Function/Program – Last Ten Fiscal Years .............................................................. 216 Capital Asset Statistics by Function/Program – Last Ten Fiscal Years .......................................................... 218 v
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INCORPORATED 1896
1333 Park Avenue
Emeryville, California 94608-3517
Tel: (510) 596-4300 | Fax: (510) 596-4389
December 7, 2022
Honorable Mayor and Members of the City Council:

We are pleased to submit the Annual Comprehensive Financial Report for the City of Emeryville (City) for the fiscal year ended June 30, 2022. Responsibility for both the accuracy of data, as well as the completeness and fairness of the presentation, including all disclosures, rests with the management and staff of the City. To the best of our knowledge and belief, the enclosed information is accurate in all material respects, presented in conformance with Generally Accepted Accounting Principles (GAAP) and reported in a manner that presents fairly the financial position and operating results of the City and its component units and fiduciary funds as of June 30, 2022. All disclosures reasonably necessary to enable the reader to gain an appropriate understanding of the City’s financial affairs have been included.

The goal of an independent audit is to provide reasonable assurance that the financial statements presented here for the fiscal year ended June 30, 2022, are free of material misstatement. The City’s independent auditors, Maze & Associates, have issued an unmodified opinion on the City of Emeryville’s financial statements for the year ended June 30, 2022. The independent auditors’ report is located at the front of the financial section of this report.

The management’s discussion and analysis (MD&A) has been prepared by management as a narrative introduction, overview and analysis to accompany the basic financial statements. This narrative can be found immediately following the independent auditor’s report. This transmittal letter is designed to complement the MD&A and should be read in conjunction with it.

The Profile of the City of Emeryville
The City of Emeryville was incorporated in 1896. Emeryville is a full-service, charter city providing police, fire (provided by way of a contract with the Alameda County Fire Department), public works, development services (economic development, housing, planning, and building), community services (child development, youth services, and adult services), and general administrative services (city manager, city clerk, city attorney, finance, human resources, and information technology). The City has operated under the Council-Manager form of government since 1984, with five City Council members elected at-large for staggered four-year terms. Annually, the City Council members select a Mayor and Vice-Mayor. The City Manager, appointed by the Council, serves as chief administrative officer of the organization. The City Manager is responsible for administration of City affairs, day-to-day operations, and implementation of Council policies. The City Council also appoints a City Attorney. vii
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The City of Emeryville is in Alameda County in the San Francisco Bay Area. It is bordered by the City of Berkeley to the north and the City of Oakland to the east and south. The City has an estimated population of 12,497, as of January 1, 2022.

Emeryville has evolved from an industrial town to a modern mixed-use urban center through several development projects which added several thousand units of housing and over a million square feet of commercial space.

The financial statements included in this Annual Comprehensive Financial Report present the City of Emeryville (the primary government), as well as the Community Development Commission of Emeryville (the Commission), the Management of Emeryville Services Authority (MESA), and the Emeryville Public Financing Authority (Authority) as its component units. The Emeryville Redevelopment Agency was also a component unit until 2012. However, due to the dissolution of redevelopment agencies in California, the activities of the former redevelopment agency are now reported as a private purpose trust fund in the financial statements, known as the Emeryville Successor Agency. The Emeryville Successor Agency is not a component unit of the City of Emeryville.

Redevelopment Dissolution
In June 2011, the Governor signed legislation, AB1x26, to dissolve and wind down the affairs of local redevelopment agencies in California. In June 2012, the Governor signed additional legislation, AB1484, which also created requirements related to the redevelopment dissolution process. In September 2015, SB 107 clarified and further amended the dissolution process.

These legislative actions negatively impacted the City’s redevelopment and economic development activities that historically strengthened the City’s and Redevelopment Agency’s revenues and supported the high level of service provided to its residents.

The elimination of the Emeryville Redevelopment Agency effective February 1, 2012 had a significant impact to the City’s budget and opportunities to provide services and improvements to the community. Instead of receiving an estimated $37 million in annual redevelopment property tax increment revenues, the City now receives 20% of the residual property taxes that is distributed to all the various taxing entities, after approved obligations such as bond payments and projects that were in progress prior to the dissolution act have been funded.

During Fiscal Year 2021-22, the City received $5.9 million in residual property tax revenue. As a local policy, City Council has directed residual property tax increment revenue received by the City to be allocated in support of General Fund activities (50%), capital projects (22.5%), affordable housing (20%), economic development (5%) and public art (2.5%). This residual property tax increment revenue will grow as the Successor Agency continues to pay down the debts and other contract obligations of the former redevelopment agency.

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Economic Condition and Outlook
The City of Emeryville, along with the rest of the nation, continues to recover from the negative economic impacts of the lengthy COVID-19 pandemic. The City’s primary revenue streams (sales tax, hotel tax, business license tax and cardroom tax), were all negatively affected by the pandemic and will take time to recover. The pandemic brought about transformational changes in our ways of living and working. The longterm economic impacts of these changes are unknown.

According to California’s Employment Development Department (EDD), the City’s unemployment rate for June 2022 was 2.1%, lower than the unemployment rate for Alameda County of 2.9% and the state’s June 2022 overall unemployment rate of

4.2%. According to the East Bay Regional Outlook report published by Beacon Economics in Summer 2022, the East Bay region (defined as Alameda and Contra Costa Counties) has recovered 97.3% of all the jobs this area lost during the pandemic, while certain other regions in California now have more jobs than prepandemic. With a low unemployment rate as noted above, the constraint on full recovery of the East Bay employment market is labor supply. Beacon Economics expects the East Bay economy to continue expanding, but labor shortages will hinder job growth, even in the near term.

While the pandemic has had a negative impact on the labor market, the Bay Area residential real estate market saw a significant rise in activity and prices, and this trend persisted through the first half of 2022. Data from the California Association of Realtors indicates that the median home price in Alameda County increased 8.1% between July 2021 and July of 2022. Rising interest rates have recently tempered prices but, according to Beacon Economics, home prices are not expected to fall.

Rather, the rate of price appreciation is expected to moderate in the coming years.

The commercial real estate market in Emeryville was likewise negatively impacted by the COVID-19 pandemic as many businesses were forced to close, reduce staffing levels and allow remaining employees to work remotely, however, strength in the life science sector has supported continued development and interest in leasing activity in Emeryville. According to Newmark Research, biotech tenants were seeking nearly 500,000 square feet of space as of May 2021 and this strong demand has pushed rents above $6.00 per square foot. In contrast, demand for traditional office space remains below pre-pandemic levels, with vacancy at 17% as of the third quarter of 2022, which is above the ten-year average vacancy rate of 11.8%.

The City’s reserve policy is to maintain a target reserve of 50% of the General Fund annual operating budget in the economic uncertainty fund. In addition, the City’s unassigned General Fund balance is a fluctuating balance that varies from time to time reflecting annual operating results. This fund has no minimum threshold although sufficient balances are maintained to provide contingencies for unseen operating or capital needs and cash flow requirements. For Fiscal Year 2021-22, the unassigned General Fund balance was $16.2 million, and the economic uncertainty fund balance was $23.0 million. The total reserve of $39.2 million represents approximately 82% of the $47.5 million budgeted operating expenditures for Fiscal Year 2021-22.

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Major Initiatives and Accomplishments
The City is committed to providing innovative and responsive services to the community to create and sustain a vibrant, livable city. The City continued to develop vital services and programs that are consistent with the community’s strategic goals, mission, and value. Significant activities and accomplishments for Fiscal Year 2021- 22 include the following:

City Governance/Administration – Like the rest of the country, City operations were impacted by the COVID-19 global pandemic. After remaining closed throughout the entire 2020-2021 fiscal year, City Hall reopened to the public on July 16, 2021 from 9:00 am to 5:00 pm, Monday through Friday. The Planning and Building counter is open Monday through Thursday, with walk-in service in the morning and appointments in the afternoon. All public meetings of the City Council, Commissions and Committees continue to be held virtually, with support from the City Clerk’s Office. The Planning and Building Divisions, as well as the Public Works Department, continued to review plans, process permits and inspect projects through a combination of remote work and scheduled appointments. The Emeryville Police Department continued operations without interruption, although public access to the police building was curtailed. The Emeryville Child Development Center also continued operations, albeit with a significantly reduced classroom size in order to follow public health protocols.

The Community Services Department provided day programs for a limited number of students at the Emeryville Center of Community Life (ECCL) for children unable to attend their regular school sites. These day-long programs replaced the regular after school programming offered by the Department. The Public Works Maintenance Division continued to maintain public spaces as before, with no interruption in service.

The City Council and City staff adapted to the process of virtual meetings and remote work, using various technology and platforms to facilitate communication. Progress continued on all City Council adopted priorities. In March 2021, the Council adopted an ambitious affordable housing expenditure plan that includes the affordable housing bond approved by the voters in 2018 and will facilitate near term construction of two major affordable projects. The Planning Commission approved entitlements for a new grocery store at Bay Street and several small residential projects totaling 32 units. The City received over $4 million in grant funding from the state transportation commission for a rail safety quiet zone project, and almost $2 million in grant funding for 40th Street to enhance pedestrian and bicyclist safety and improve bus transit time.

Finally, while the City experienced revenue challenges resulting from COVID, particularly in terms of decreased transient occupancy tax, City staff reduced and managed expenditures such that the City was able to rely on relatively small amounts of one-time funding to cover costs. The City was able to avoid using its General Fund Reserve to cover any expenditures during the course of the fiscal year.

City/School Partnership – With the Emeryville Center of Community Life (ECCL) the City continued to work in partnership with the Emeryville Unified School District (EUSD). The ECCL includes high quality learning environments for Emeryville’s youth and provides facilities for a range of community services, such as a swim center, wellness center, and after-school activities.
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The City’s Community Services Department continued to pivot with the changing orders from the state and county with operating programs safely to provide meals services and in person and virtual programs to the community especially seniors to address both nutritional and socialization needs.

The Child Development Center continued to provide children services and professional development opportunities or supported additional education for staff to maintain State Department of Education permits and/or a higher level of permits.

Livable City – The City Council’s Fiscal Year 2021-22 goals included a number of critical infrastructure projects to improve overall quality of life in Emeryville:
construction of the South Bayfront Bridge, improving multi-modal connectivity, and establishing rail safety quiet zones. The City made progress on all of them. The South Bayfront Bridge completed construction and was officially opened in December of 2021, with the project currently in the close out phase. The City entered into a $2 million dollar agreement with ACTC to fund the engineering and bid documents on the 40th Street redesign. This is a project that improves bicycle and pedestrian access while enhancing bus flow along a critical arterial. The award of the design contract for this project is scheduled for Fall of 2022. The City’s Quiet Zone project to enhance rail safety along the Union Pacific Railroad (UPRR) lines at 65th, 66th and 67th Streets has completed the design phase, and is currently under construction with establishment of the Quiet Zone scheduled for 2023. Other minor projects include the Davenport Children’s Park which has entered into construction and is scheduled for completion by the end of 2022. The Annual Paving project which includes work in the City’s Triangle neighborhood with several multimodal bike ped improvements is scheduled for construction during the fall of 2022. The City’s Lumec Pole Painting and 40th Street Bridge Railing Projects are scheduled for a rebid in the fall of 2022, with construction scheduled for the spring of 2023. Finally, the Point Emery Shoreline protection project has commenced construction and is scheduled for completion by the end of 2022.

The City’s Police Department faced many challenges managing the national pandemic including protecting employees, ensuring compliance with community safety precautions, and maintaining crime prevention efforts. Unexpected budget expenditures to operate during the pandemic were offset by a $32,000 federal grant the Police Department received. The Police Department also received two additional grants totaling just over $58,000 for traffic safety and officer safety equipment. Police Department staffing continues to be a substantial challenge. The Police Department reallocated salaries money from a police captain’s position to an administrative sergeant position to help support Department priorities specifically for hiring and training staff as hiring officers and dispatchers. This staffing change also saved the City approximately $60,000 in staff costs. The Police Department remained in compliance with all State Commission on Police Officer Standards and Training (POST) perishable skills training requirements by utilizing our in-house training cadre and our successful transition from in person training to online training options when feasible.

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The Police Department is making adjustments to address anticipated post-pandemic crime trend increases. Crime prevention and community trust continue to be the top priorities of Police Department. Our efforts will continue to focus on 21st Century Policing Philosophy with an emphasis on transparency, police legitimacy, deescalation training and expanding community partnerships.

Economic Development and Housing –
Labor Standards – The City continued to implement the Workplace Justice Standards At large Hotels Ordinance, which was effective September 18, 2008, the Minimum Wage/Paid Sick Leave Ordinance, which was effective on July 2, 2015, the Tenant Protection Ordinance, which was effective April 1, 2017, and the Fair Workweek Ordinance, which was effective July 1, 2017. In Fiscal Year 2021-22, and in response to the COVID-19 pandemic, the City adopted and implemented the “Right to Recall Ordinance”. This ordinance provides employees of hotel and card room businesses that were laid off during the pandemic notice of available positions prior to the business hiring new employees.

Public Art – In Fiscal Year 2021-22, the City continued to work with the selected developer for the development and operation of an Art Center at the City-owned property at 4060 Hollis Street pursuant to a Lease Disposition and Development Agreement (LDDA) that was approved on September 15, 2020. EDH staff worked with the developer to revise the project design to meet project budget limitations and this work was ongoing as of the end of Fiscal Year 2021-22. EDH staff continued implementation of the City’s Art in Public Places Program, including implementation of the Public Art Mural Program, the Sharon Wilchar Bus Shelter Temporary Art Program, and the annual Purchase Award Program in conjunction with the Emeryville Celebration of the Arts Exhibition (“ECA”). EDH staff implemented a pilot program providing grants for visual arts projects in the City, in conjunction with the City’s Community Grants Program.

Economic Development – Staff continued to implement the updated Economic Development Strategy that was adopted by the City Council in fiscal year 2017-18, including the Business License Tax and Permit Fee Rebate Program. The rebate program was expanded in Fiscal Year 2020-21 to include rebates of Cabaret License and Sidewalk Sign Permit fees in addition to Business License Tax and Fire Inspection Fees. In support of the Economic Development Strategy’s call for management of the City’s parking resources, staff continued implementation of the City’s Paid Parking program, regulates on-street parking at key locations in the City through the use of parking meters and kiosks.

Affordable Housing – Major development projects under construction during Fiscal Year 2021-22 included the Sherwin Williams Mixed Use Project, which entails 500 residential units, office space, and over three acres of new park and open space, of which two buildings were occupied in June 2022, and The Intersection project at 3800 San Pablo Avenue, which includes 105 units of modular rental housing and which was completed in September 2021. These residential projects include affordable units, and EDH staff provided support to the developers in negotiating regulatory agreements, reviewing marking plans, and will support lease-up activities once the projects are completed.
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In Fiscal Year 2021-22, EDH staff also supported negotiations related to affordable housing elements of the EmeryStation Overland Project, which includes a 300,000 square foot research and development building and a 496-space parking structure.

As part of the project’s community benefits, the developer is providing affordability commitments for ten existing live-work units in an adjacent building. EDH Staff also supported negotiations related to the Marketplace Redevelopment Project, specifically, a few Final Development Plan for Parcels A and B. The project was previously entitled for a residential building on Parcel A and a research and development building on parcel B. The negotiations resulted in an amendment of the Development Agreement applicable to the project, providing for a contribution of $20m to the City’s affordable housing fund in lieu of constructing the Parcel A residential building.

In Fiscal Year 2020-21, EDH staff developed, and the City Council approved, the Affordable Housing Bond Expenditure and Administration Plan (“Expenditure Plan”).

The Expenditure Plan guides the investment of over $64m in affordable housing funds, including $50m of affordable housing general obligation bonds anticipated for future issuance. Four of the projects included in the Expenditure Plan advanced predevelopment activities in Fiscal Year 2021-22: the Nellie Hannon Gateway Project at 3600 San Pablo Avenue, the 4300 San Pablo Avenue Intergenerational Affordable Housing Project, the Christie Avenue Sites and the Adeline Sites. In Fiscal Year 2021- 22, the Nellie Hannon Gateway Project received entitlements and staff supported the developer’s applications for financing; the 4300 San Pablo Avenue Intergenerational Project advanced negotiations on a Lease Disposition and Development Agreement (“LDDA”) , with execution of the LDDA anticipated in Fiscal Year 2022-23; and a Request for Proposals was released for the Christie Avenue Sites and the Adeline Sites. Finally, the City continued to service its portfolio of first-time home buyer loans for below market rate (BMR) and market rate units and manage the City’s portfolio of ownership BMR units.

Financial Information
Internal Controls – Emeryville management is responsible for establishing and maintaining an internal control system designed to ensure that its assets are protected from loss, theft or misuse and to ensure that adequate accounting data is compiled to allow for the preparation of financial statements in conformity with Generally Accepted Accounting Principles (GAAP). The internal control system is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that the cost of control should not exceed benefits likely to be derived from its implementation. The valuation of costs and benefits requires estimates and judgments by management. Emeryville’s management believes its internal controls are adequate.

Budgetary Controls – The City adopts an operating budget for all governmental funds except those dedicated to capital projects and certain special revenue funds.

These fiscal year budgets are controlled at the departmental (General Fund) or fund level (all other funds) by the City Manager, who may authorize transfers from one object or purpose to another within the same department or fund. When deemed necessary, the City Council may amend the adopted budget by resolution. All operating budget appropriations lapse at year’s end.
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The Capital Improvement Program (CIP) sets priorities for building the City’s infrastructure such as parks, sewer/storm drain improvements, pedestrian/bicycle network, traffic/street improvements, affordable housing, and community facilities.

Historically, most CIP projects were funded through redevelopment revenue and bond financing with some funds also coming from the City’s General Fund or state/regional/federal grants. Following the dissolution of redevelopment in 2012, the City began identifying other funding sources for capital projects, including state grants and resources from the County’s sales tax measures that support transportation projects (Measures B and BB).

Since Fiscal Year 1993-1994, the City has had a long-term budget philosophy guided by the following principles:

1. Current-year expenditures should be supported by current-year revenues.

One-time revenues should not be used for ongoing costs but should instead be used for necessary one-time expenditures or to strengthen fund reserves.

2. Fund balances should be maintained in all major operating funds to provide for unforeseen circumstances. The appropriate level of fund balance depends on the particular fund.

3. Capital improvement projects, including related maintenance costs, should be identified and prioritized. The funding of many of these projects will require current and planned resources, such as special revenues, grants, and surplus general funds. The City will adhere to prudent spending of discretionary funds to allow the City to provide the necessary resources for capital improvements, including one-time expenditures and adequate replacement reserves.

4. Unfunded liabilities should be identified and funded with surplus funds when they are available. Liabilities that are currently accruing should be funded currently.

5. A strategy should be formulated and implemented, when necessary, to address potential impacts of the State budget and other State actions that may affect City and Agency revenues.

6. Capital improvement projects, including related maintenance costs, should be identified with community input. The funding of many of these projects will require current, planned resources, such as special revenues, grants, and surplus general funds. The City will adhere to prudent spending of discretionary funds to allow the City to provide the necessary resources for capital improvements, including one-time expenditures and adequate replacement reserves.

These principles have helped insulate the City from the short-term impact of regular economic cycles and downturns and mitigated the impact of rising pension costs. The City continues to focus on prudent spending to ensure long-term fiscal sustainability.

Awards
The Government Finance Officers Association of the United States and Canada . (GFOA) awarded the Certificate of Achievement for Excellence in Financial Reporting to the City of Emeryville for its Annual Comprehensive Financial Report for the fiscal year ended June 30, 2021. This was the 27th consecutive year that the City of Emeryville has achieved this prestigious award. To be awarded a Certificate of Achievement, the governmental entity must publish an easily readable and efficiently organized Comprehensive Annual Financial Report the contents of which conform to program standards. This report must satisfy both accounting principles generally accepted in the United States of America, as well as all·applicable legal requirements.

A Certificate of Achievement is valid for a period of one year only. We believe that our current Annual Comprehensive Financial Report continues to meet the Certificate of Achievement program's requirements and we are submitting it to GFOA to determine its eligibility for another certificate.

Acknowledgments
Preparation of this Financial Report was made possible through the dedicated work of the Finance Department staff who are commended for their continued high level of performance. Appreciation is also extended to all departments within the City who provided assistance and support.

Recognition is due to the Mayor and Members of the City Council, who have provided the City of Emeryville with leadership and vision and have supported the staff in responsible fiscal management of the City's resources.

Respectfully Su
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Adam W. litzer
Interim City Manager
���- BillZen/4
Interim Finance Director
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CITY OF EMERYVILLE
List of City Officials
City Council
Mayor.......................................................................................................................John Bauters Vice-Mayor................................................................................................................. Ally Medina Councilmember..................................................................................................... Scott Donahue Councilmember...................................................................................................Dianne Martinez Councilmember................................................................................................... Courtney Welch Appointed Officials and Department Heads
Interim City Manager/Executive Director .................................................................Adam Politzer Assistant City Manager ........................................................................................ Pedro Jimenez City Attorney/General Counsel .............................................................................. John Kennedy City Clerk ............................................................................................................April Richardson Community Development Director......................................................................... Charles Bryant Interim Community Services Director ............................................................. Rebecca Sermeno Interim Finance Director .............................................................................................. Bill Zenoni Fire Division Chief for Emeryville, Alameda County Fire Department .......................Randall West Human Resources Director........................................................................................ Trish Raver Police Chief.........................................................................................................Jeffrey Jennings Public Works Director......................................................................................... Mohamed Alaoui xvii
 CITY GOVERNMENT ORGANIZATION
Building
Division
City Attorney/General
Counsel
City Manager/
Executive Director
City Council*
Residents of Emeryville
Fire
(Almeda County
Fire Department)
Police
Department
City Clerk/Public
Information
Office
Human
Resources
Department
Community
Services
Department
Information
Technology
Community
Development
Department
Public Works
Department
Finance
Department
Planning
Division
Engineering
Division
Environmental
Services Division
Operations and
Maintenance
Division
Child Development
Center
Youth and Adult
Services Divisions
Economic
Development
and Housing
Division
*The Emeryville City Council also acts as the governing members of several other separate legal entities that together are responsible for the City’s administration, finance, and operations. The Community Development Commission of Emeryville oversees the City’s economic development efforts, the Management of Emeryville Services Authority acts as the employer of the City’s non-public safety staff, and the Public Financing Authority is responsible for issuing bonds to finance capital projects. xviii
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INDEPENDENT AUDITOR’S REPORT
To the Honorable Members of the City Council
City of Emeryville, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Emeryville (City), California, as of and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the 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, the business-type activities, each major fund, and the aggregate remaining fund information of the City as of June 30, 2022, 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 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 requirement 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 Management is responsible for the preparation and fair presentation of these 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 the 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.

1 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 opinion. 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 generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if, individually or in the aggregate, they could reasonably be expected to influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, 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 Analysis and other Required Supplementary Information as listed in the Table of Contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic or historical context.

2 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 accompanying Supplementary Information, as listed in the Table of Contents, is presented for purposes of additional analysis and is 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 additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the Supplementary Information is 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 report. The other information comprises the Introductory Section and Statistical Section listed in the Table of Contents, 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 December 7, 2022, 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 solely 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 the effectiveness of the City’s 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.

Pleasant Hill, California
December 7, 2022
3 This Page Intentionally Left Blank
The City of Emeryville
Management’s Discussion and Analysis
The Management’s Discussion and Analysis (MD&A) provides an overview of the City of Emeryville’s activities and financial performance for the fiscal year ended June 30, 2022. We encourage readers to consider the information presented here in conjunction with additional information we have furnished in our letter of transmittal, which can be found in an earlier section of this report.

FINANCIAL HIGHLIGHTS
The comparisons in the discussion and analysis below are between Fiscal Years 2021-22 and 2020-21. All increases and decreases are expressed relative to Fiscal Year 2020-21 results.

Highlights of Fiscal Year 2021-22 include the following:
 At the end of the current fiscal year, the unassigned General Fund Balance together with the Economic Uncertainty Fund Balance made up $39.2 million of the total $58.9 million General Fund Balance, or 82.0% of total General Fund budgeted expenditures of $47.8 million for Fiscal Year 2022-23. The economic uncertainty fund balance was $22.9 million, or 48.1% of total General Fund budgeted expenditures for Fiscal Year 2022-23.  The assets and deferred outflows of resources of the City of Emeryville exceeded its liabilities and deferred inflows of resources at June 30, 2022 by $277.7 million (net position), an increase of $13.9 million over the prior year’s net position of $263.8 million.  The governmental activities total net position at June 30, 2022, was $262.1 million, an increase of $13.2 million over the prior fiscal year’s net position of $248.9 million.

Business-type activities total net position increased by approximately $0.7 million to $15.5 million.
 Of the City’s $277.7 million in net position, $118.5 million represents net investment in capital assets, $59.1 million represents resources restricted for debt service payments, community development, public safety, public works, capital projects, small business incentives, community services, and pension payments, and the remaining $100.1 million represents the accumulated unrestricted surplus at the close of Fiscal Year 2021-22.

OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements. The City’s basic financial statements are comprised of three components:
1) Government-wide Financial Statements, 2) Fund Financial Statements, and 3) Notes to the Basic Financial Statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

For certain entities and funds, the City acts solely as a depository agent. For example, the City has several assessment districts for which the City provides fiduciary statements showing the cash balances and activities of these districts. These statements are presented as fiduciary funds in the accompanying financial statements and their balances are excluded from, the City’s financial statements.
5 Government-Wide Financial Statements
The Government-Wide Financial Statements are designed to provide readers with a broad overview of the City’s finances, in a manner like private-sector businesses.

The statement of net position presents all the City’s assets, deferred outflow of resources, deferred inflow of resources, and liabilities; with total assets plus deferred outflow of resources less deferred inflow of resources and less total liabilities reported as net position. Over time, increases and decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating.

The statement of activities presents information on how the City’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. Thus, revenues and expenses are reported in this statement for some items that will result in actual cash flows in future fiscal periods such as revenues pertaining to uncollected taxes.

Both government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to cover all or a portion of their cost through user fees and charges (business-type activities). The governmental activities of the City include City Council, City Manager, City Clerk, City Attorney, Finance, Human Resources, Community Development (Planning & Building and Economic Development & Housing), non-departmental operations, Property-Based Improvement District, Police, Fire, Public Works, Community Services, Child Development, Youth and Adult Services, and Information Technology services. These services are supported by general City revenues such as taxes and by specific program revenues such as fees. The City’s only enterprise activity, the Sewer Fund, is reported under Businesstype Activities.

The government-wide financial statements include not only the City itself (known as the primary government), but also a legally separate Community Development Commission, Management of Emeryville Services Authority, and a public financing authority for which the City is financially accountable.

Fund Financial Statements
Fund financial statements are designed to report groupings of related accounts, which are 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 finance-related legal compliance. All the funds of the City can be divided into three categories:
governmental funds, proprietary funds, and fiduciary funds.

Governmental Funds account for essentially the same functions as the government-wide activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental funds financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources at the end of the fiscal year.

Such information may be useful in determining what financial resources are available in the near future to finance the City’s programs.
6 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 governmental funds with similar information presented for governmental activities in the government-wide financial statements.

By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental funds balance sheet and the governmental funds statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The City of Emeryville maintains forty-three (43) individual governmental funds, which are distinguished between major and non-major funds. 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, three (3) special revenue funds and two (2) capital project funds. These six (6) funds are considered as major funds. Data from the other thirty-seven (37) governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in in the Combining and Individual Funds Statements and Schedules section of this report.

The City of Emeryville has deviated from the normal biennial budget for its General Fund for the past two fiscal years because of the pandemic, to issue two one-year budgets for Fiscal Years 2021-22 and 2022-23. 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 in the table of contents under the heading Basic Financial Statements.

Proprietary Funds are generally used to account for services for which the City charges customers – either outside customers, or internal units or departments of the City. Proprietary funds provide the same type of information as shown in the government-wide financial statements, only in more detail. Proprietary funds are used to present the same functions as business-type activities in the government-wide financial statements. The City uses proprietary funds to report the Sewer System and Internal Service funds, including the Management of Emeryville Services Authority (MESA). MESA is a joint powers authority that was created in 1998 and employs all the City’s miscellaneous staff. The City pays MESA to provide cost-effective management, administrative, special and general personnel services to the City of Emeryville and/or CDCE, through a jointpowers agreement, which includes providing payroll services for employees of the City of Emeryville.

Fiduciary Funds are used to account for resources held by the City as a trustee or agent for individuals, other governmental units and/or other funds. The private-purpose trust fund was created to account for the dissolution of the former Emeryville Redevelopment Agency and represents the accounts of the Emeryville Successor Agency. Since the resources of these funds are not available to support the City’s own programs, they are not reflected in the governmentwide financial statements. The accounting used for fiduciary funds is much like that used for proprietary funds. The custodial funds account for the receipt of special assessments and the payment of principal, interest and bond administration costs on Assessment District Bonds. These funds are separate and unrelated to the City of Emeryville funds.

Notes to the Basic Financial Statements
The Notes to the Basic Financial Statements provide additional information that is essential to a full understanding of the data provided in the Government-wide and Fund financial statements. 7 Other Information
The combining statements referred to earlier in connection with non-major governmental funds, internal service funds, agency funds, and the private-purpose trust funds are presented immediately following the basic financial statements. Combining and individual fund statements and schedules can be found in the table of contents under combining and individual fund statements and schedules.

FINANCIAL ANALYSIS

GOVERNMENT-WIDE FINANCIAL STATEMENTS
Analysis of Net position: As noted earlier, net position may serve over time as a useful indicator of a government's financial position. At the close of Fiscal Year 2021-22, the City of Emeryville’s assets exceeded liabilities by $277.7 million, an increase of $13.9 million over the prior fiscal year net position of total of $263.8 million.

A significant portion of the City of Emeryville’s net position is $100.1 million in unrestricted net position. Net investment in capital assets totaled $118.5 million. Net position of $59.1 million is restricted for various programs including community development, public safety, public works, capital projects, debt service, small business incentive, community services and pension payments. The City of Emeryville uses these assets to provide services to citizens; consequently, these assets are not available for future spending.

The following is a condensed summary of the City of Emeryville’s net position for governmental and business type activities:
8 2022 2021 2022 2021 2022 2021
Cash and Investments 193.8 $ $ 183.0 8.0$ $ 7.3 $ 201.8 $ 190.4 Other Assets 25.0 27.6 0.2 0.1 25.2 27.7
Capital Assets 112.6 110.2 7.9 7.6 120.5 117.8
Total Assets 331.4 320.8 16.0 15.1 347.4 335.9
Deferred Outflows of
Resources 13.7 14.1 0.1 0.1 13.8 17.3
Long-Term Debt 2.0 2.3 - - 2.0 2.3
Net Pension Liability 28.1 48.5 0.1 0.2 28.2 48.7
Net OPEB Liability 7.5 7.2 0.1 0.1 7.6 7.3
Other Liabilities 22.1 23.0 0.3 0.0 22.4 23.0
Total Liabilities 59.7 81.0 0.5 0.3 60.2 81.3
Deferred Inflows of
Resources 23.2 4.9 0.1 0.0 23.4 5.5
Net Position:

Net investment in
capital assets 110.6 107.9 7.9 7.6 118.5 115.5
Restricted 51.4 49.2 7.6 7.2 59.0 56.4
Unrestricted 100.1 91.9 - - 100.1 91.9
Total Net Position $ 262.1 $ 249.0 $ 15.5 $ 14.8 $ 277.7 $ 263.8 Statement of Net Position
($ In millions)
Governmental Activities Business-Type Activities Total
9 Analysis of activities: At the end of Fiscal Year 2021-22, the City of Emeryville’s governmental net position increased by $13.9 million. Key elements of these changes are reflected in the following table.
2022 2021 2022 2021 2022 2021
Revenues
Charges for Services $ 17.7 $ 13.7 $ 1.3 $ 1.3 $ 19.0 15.0 $ Operating Contributions & Grants 6.3 5.2 - - 6.3 5.2
Capital Contributions & Grants 0.4 0.3 - - 0.4 0.3
Property Taxes 12.0 20.8 - - 12.0 20.8
Transient Occupancy Tax 4.5 2.3 - - 4.5 2.3
Sales Taxes 12.0 10.4 - - 12.0 10.4
Franchise Tax 2.2 2.0 - - 2.2 2.0
Business License Taxes 9.6 6.5 - - 9.6 6.5
Utility Users Tax 3.4 3.0 - - 3.4 3.0
Other Taxes and Fines - - - - - -
Motor Vehicle In Lieu 1.1 1.0 - - 1.1 1.0
Use of Money and Property (1.9) 2.5 - - (1.9) 2.5
Contribution from Successor
Agency - - - - - -
Transfers In 0.1 0.2 - - 0.1 0.2
Miscellaneous 2.8 2.4 - - 2.8 2.4
Total Revenues 70.2 70.3 1.3 1.3 71.5 71.6
Expenses
City Council 0.2 0.2 - - 0.2 0.2
City Manager's Office 0.9 1.1 - - 0.9 1.1
City Attorney's Office 0.6 0.6 - - 0.6 0.6
Finance Dept 1.0 1.1 - - 1.0 1.1
Human Resources Dept 0.8 0.8 - - 0.8 0.8
Information Technology Dept 1.3 1.4 - - 1.3 1.4
General Government 3.6 3.2 - - 3.6 3.2
Police Department 13.1 16.4 - - 13.1 16.4
Fire Department 9.9 9.5 - - 9.9 9.5
Planning and Building 5.1 4.0 - - 5.1 4.0
Economic Development and Housing 2.3 2.1 - - 2.3 2.1
Property Based Improvement District 4.9 4.7 - - 4.9 4.7 Community Services Department 5.0 5.1 - - 5.0 5.1
Public Works Department 8.2 9.7 - - 8.2 9.7
Interest on long-term debt 0.1 0.1 - - 0.1 0.1
Transfers Out - - 0.1 0.2 0.1
Sew er - - 0.5 0.6 0.5 0.6
Total Expenses 57.0 60.0 0.6 0.8 57.6 60.6
Increase(Decrease) in Net Position 13.2 10.3 0.7 0.5 13.9 11.0 Beginning Net Position 248.9 238.6 14.8 14.3 263.7 252.9 Restatement of Net Position - - - - - -
Beginning Net Position, restated 248.9 238.6 14.8 14.3 263.7 252.9 Ending Net Position $ 262.1 248.9$ $ 15.5 $ 14.8 $ 277.6 $ 263.9 Changes in Net Position
Net Position at June 30
($ in millions)
Governmental
Activities
Business Type
Activities Total
10 Governmental Activities – Revenues
Revenues from Governmental Activities totaled $70.2 million in Fiscal Year 2021-22, a decrease of $0.1 million over the prior fiscal year.

Program revenues, including charges for services, operating contributions and grants, and capital contributions and grants are generated from or restricted to each activity. Together, they totaled $24.4 million, a net increase of $5.2 million from the prior fiscal year due to increases in charges for services of $4.0 million, capital contributions and grants of $1.1 million and increases in operating contributions and grants of $0.1 million.

General revenues are composed of taxes and other revenues not specifically generated by or restricted to individual activities. Tax revenues, investment earnings and rents for governmental facilities are all components of general revenues. For Fiscal Year 2021-22, general revenues totaled $45.8 million, a decrease of $5.3 million when compared to the prior fiscal year’s total general revenues of $51.1 million. The decrease was primarily due to the following:
 Property tax revenue decreased by $8.8 million due to the one-time receipt of commercial property transfer tax revenue in Fiscal Year 2020-21.
 Use of money and property revenue decreased by $4.4 million due primarily to the yearend unrealized market value adjustment of City investments and decreased interest earnings.
 The above decreases were partially offset by increases in transient occupancy tax, sales tax, business license tax, utility users tax and other miscellaneous revenue.

The following Total Revenues chart includes only current year revenues and includes all governmental funds, not just the General Fund.

Total Revenues, Governmental Activities – 2021-22
Charges for Services
24%
Operating Contributions
& Grants
8%
Capital Contributions
& Grants
1%
Property Taxes
16%
Transient Occupancy
Tax
6%
Sales Taxes
16%
Franchise
Tax…
Business License
Taxes
13%
Utility Users Tax
5%
Other Taxes and Fines
0%
Motor Vehicle In Lieu
1%
Use of Money and
Property
-3%
Contribution from
Successor Agency
0%
Transfers In
0%
Miscellaneous
4%
11 Governmental Activities – Expenses
Total governmental activities expenses were $57.0 million in Fiscal Year 2021-22, a decrease of $3.0 million from the prior fiscal year. The major variances include decreases in Police expenses ($3.3 million) and Public Works expenses ($1.4 million), which were partially offset by increases in Fire expenses ($0.3 million) and Planning and Building expenses ($1.1 million).

The Functional Expenses chart below includes only current year expenses for governmental activities and is not limited to only the General Fund.

Functional Expenses, Governmental Activities – 2021-22
Business-Type Activities (Sewer Fund) – Revenues
Revenues from business-type activities totaled $1.3 million, which was consistent with the prior fiscal year.

Business-Type Activities (Sewer Fund) – Expenses
Expenses from business-type activities were $0.6 million, which was an increase of $0.2 million from the prior fiscal year.

City Council
0%
City Manager's Office
2%
City Attorney's
Office
1%
Finance Dept
2% Human Resources Dept
2%
Information Technology
Dept
2%
General Government
6%
Police Department
23%
Fire Department
Planning and Building 17%
9%
Economic Development
and Housing
4%
Property Based
Improvement District
9%
Community Services
Department
9%
Public Works
Department
14%
Interest on
long-term
debt
0%
12 FUND FINANCIAL STATEMENTS
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental funds
The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances of resources that are available for spending. Such information is useful in assessing the City’s financial requirements. In particular, unassigned fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. Types of governmental funds reported by the City include the General Fund, Special Revenue Funds, Debt Service Funds, and Capital Projects Funds.

The table below summarizes City activity and balances at the fund level.

At June 30, 2022, the City’s Governmental Funds reported combined fund balances of $183.1 million, an increase of $8.7 million, or 5.0%, over the prior year. Governmental Fund revenues of $70.4 million increased by $0.1 million, or 0.1% over the prior year.

Governmental Fund expenditures decreased by $8.4 million in Fiscal Year 2021-22 to $61.8 million, primarily due to the following:
 Capital Outlay expenses decreased by $12.3 million over the prior fiscal year primarily due to the completion of the South Bayfront Pedestrian Bridge Project.  Police, Fire and non-departmental expenses increased by $0.6 million, $0.3 million and $0.5 million respectively.
 Planning and Building expenses increased by $1.4 million due to increased construction/development activity during Fiscal Year 2021-22.

General Fund - The General Fund is the City’s main operating fund. On June 30, 2022, the unassigned fund balance in combination with the economic uncertainty fund totaled $39.2 million while the total fund balance was $58.9 million. As a measure of the General Fund’s liquidity, it may be useful to compare both unassigned and economic uncertainty fund balance and total fund balance to total General Fund expenditures. Combined unassigned and economic uncertainty fund balances represent 82.0% of General Fund budgeted expenditures of $47.8 million for Fiscal Year 2022-23. The economic uncertainty fund balance was $22.9 million or 48.1% of total General Fund budgeted expenditures for fiscal year 2022-23. This was slightly below the City’s

50.0% reserve target.
2022 2021
Increase
(Decrease)
Total Assets $ 200.4 $ 193.8 $ 6.6
Total Liabilities 15.9 17.7 (1.8)
Total Deferred Inflow s of Resources 1.4 1.7 (0.3)
Total Fund Balances 183.1 174.4 8.7
Total Revenues 70.4 70.3 0.1
Total Expenditures 61.8 70.2 (8.4)
Total Other Financing Sources (uses) 0.1 0.7 (0.6)
Financial Highlights
at Fiscal Year Ended June 30
($ in millions)
Governmental Fund Level
13 General Fund revenues totaled $48.6 million, an increase of $8.0 million compared to the prior fiscal year’s total revenues of $40.6 million. This was primarily due to a $7.7 million increase in tax revenue, a $2.2 million increase in revenue from license and permits and a $1.3 million increase in intergovernmental revenue which was partially offset by a reduction of $3.8 million in investment income.

General Fund expenditures totaled $42.1 million, an increase of $2.9 million compared to the prior fiscal year’s total expenditures of $39.2 million. Increases were realized in Police expenditures ($0.4 million), Fire expenditures ($0.3 million), Planning and Building expenditures ($1.2 million), Community Services expenditures ($0.2 million), Youth Services expenditures ($0.2 million) and non-departmental expenditures ($0.5 million).

Housing Assets Fund – This fund accounts for the housing assets of the City of Emeryville as Successor Agency to the former Emeryville Redevelopment Agency. Total revenues were $0.9 million and total expenditures were $0.9 million in Fiscal Year 2021-22.

Property Based Improvement District – This fund accounts for commercial and residential property assessments and General Fund contributions collected to fund the Emery Go-Round, the City’s shuttle service. Total revenues, including transfers in, were $4.8 million and total expenditures were $4.9 million in Fiscal Year 2021-22.

General Capital Improvements Fund – This fund accounts for capital projects and improvements typically funded with general revenues. Total revenues were $2.1 million and total expenditures, including operating transfers out, were $3.3 million in Fiscal Year 2021-22.

RDA Bond Fund – This fund accounts for capital funds of the former redevelopment agency that have been approved for transfer to the City. Total revenues were $0.1 million and total expenditures were $2.4 million in Fiscal Year 2021-22.

Enterprise Fund
The City operates the Sewer Enterprise Fund, its only Business-Type Activity. The Sewer Fund uses a separate agency to provide treatment of wastewater. Expenses are paid from customer service charges. In Fiscal Year 2021-22, total net position of $15.5 million increased by $0.7 million compared to the prior year. Sewer Enterprise revenues may vary from year to year depending on the level of new development which affects connection fee revenue. Revenues for the Sewer Fund in Fiscal Year 2021-22 remained unchanged from the prior fiscal year, while expenditures increased by $0.1 million.

GENERAL FUND BUDGETARY HIGHLIGHTS
Revisions to the Fiscal Year 2021-22 General Fund original adopted budget resulted in a decrease in budgeted revenues and transfers in of $6.0 million, and a decrease in appropriations and transfers out of $3.0 million. The decrease in budgeted revenues and expenditures was primarily the result of the projected negative fiscal impact of the COVID-19 pandemic.

General Fund revenues for Fiscal Year 2021-22 exceeded the budgeted amount by $2.3 million primarily due to higher than anticipated revenue from taxes ($3.1 million), licenses and permits ($2.5 million) and investment income ($1.2 million) which was partially offset by reduced transfersin ($5.0 million) from the General Capital Fund. Expenditures were $2.0 million below budget due to operating savings in most General Fund departments.
14 CAPITAL ASSETS
The City reports all of its capital assets including infrastructure on its statement of net assets.

Infrastructure includes roads, bridges, signals and similar assets used by the entire population.

The table below shows capital assets and the amount of accumulated depreciation for these assets as of June 30, 2022 for Governmental and Business-Type Activities (further detail may be found in Note 6 to the financial statements).

Governmental Activities capital assets net of depreciation increased by $2.4 million compared to Fiscal Year 2020-21.

The City depreciates all its capital assets over their estimated useful lives. The purpose of depreciation is to spread the cost of a capital asset over its useful life so that an allocable portion of the cost of the asset is borne by all users. Additional information on capital assets and depreciable lives may be found in Note 1 and Note 6 to the financial statements. 2022 2021
Governmental Activities
Capital Asset
Land and Construction in Progress 63.3 $ 61.7$
Park Improvements and other Improvements 23.9 23.9
Buildings and Improvements 52.5 48.6
Furnishings, Vehicles and Equipment 7.4 7.7
Marina Improvements 8.7 8.7
Grading, Curb & Gutter, Sidewalks & Driveways 38.3 38.3 Less Accumulated Depreciation (81.5) (78.7)
Total Governmental $ 110.2 112.6 $
Business-Type Activities (Sewer)
Construction in progress 0.5 $ -$
Buildings and Improvements 0.5 0.5
Automobile and Equipment - -
Sewer Improvements 9.9 9.9
Less Accumulated Depreciation (3.0) (2.8)
Total Business-Type $ 7.6$ 7.9
Capital Assets
at Fiscal Year Ended June 30
($ in millions)
15 DEBT ADMINISTRATION
Each of the City’s debt issues is discussed in detail in Note 7 to the financial statements, the Net Pension Liability is discussed in detail in Note 9 to the financial statements, and the Net OPEB Liability is discussed in detail in Note 11 to the financial statements. At June 30, 2022, the City’s outstanding debt was as follows:

The former redevelopment agency long-term debt was transferred to the Emeryville Successor Agency private-purpose trust fund as of February 1, 2012. All interest and principal payments due on these bonds are paid by the redevelopment property tax trust fund monies in accordance with the bond covenants and the former redevelopment dissolution laws AB1X 26, AB 1484 and SB 107. See Note 14 of the financial statements for further details.

ECONOMIC OUTLOOK
The City of Emeryville, along with the rest of the nation, continues to recover from the negative economic impacts of the lengthy COVID-19 pandemic. The City’s primary revenue streams (sales tax, hotel tax, business license tax and cardroom tax), were all negatively affected by the pandemic and will take time to recover. The pandemic brought about transformational changes in our ways of living and working. The long-term economic impacts of these changes remain unknown. Additional details on the economy of the City are discussed in the accompanying Transmittal Letter.

CONTACTING THE CITY’S FINANCIAL MANAGEMENT
The Comprehensive Annual Financial Report is intended to provide citizens, taxpayers, investors, and creditors with a general overview of the City’s finances. Questions about this report should be directed to the Finance Department, at 1333 Park Avenue, Emeryville, California. This report and other financial reports can be viewed on the City of Emeryville website at www.emeryville.org. 2022 2021
Government Wide Debt:

Public Financing Authority Lease Revenue Bonds
2013 Series A 2.0 $ 2.3$
Compensated Absences 3.1 3.1
Claims and Judgments 3.0 3.4
Net Pension Liability 28.2 48.7
Net OPEB Liability 7.6 7.3
Total City Obligations $ 64.8 43.9 $
Long-Term Debt
($ in millions)
at Fiscal Year Ended June 30
16 CITY OF EMERYVILLE

STATEMENT OF NET POSITION AND

STATEMENT OF ACTIVITIES
The Statement of Net Position and the Statement of Activities are required by Governmental Accounting Standards Board Statement No. 34 – Basic Financial Statements. Their purpose is to summarize the financial activities and financial position of the City and its component units including the Community Development Commission, Emeryville Public Financing Authority and Management of Emeryville Services Authority. The term “City” as used in these statements refers collectively to the City and its component units.

The statements are prepared on the same basis as is used by most businesses, which means they include all the City’s assets and all its liabilities, as well as all its revenues and expenses. This is known as the full accrual basis - the effect of the entire City’s transactions is taken into account, regardless of whether or when cash changes hands, but all material internal transactions between City funds have been eliminated.

The Statement of Net Position reports the difference between the City’s total assets, deferred outflows of resources, total liabilities, and deferred inflows of resources including all the City’s capital assets and all its long-term debt. The Statement of Net Position presents similar information to the old balance sheet format, but presents it in a way that focuses the reader on the composition of the City’s net position, by subtracting total liabilities from total assets.

The Statement of Net Position summarizes the financial position of the entire City’s Governmental Activities in a single column, and the financial position of the entire City’s Business-Type Activities in a single column; these are followed by a total column, which presents the financial position of the entire City.

The City’s Governmental Activities include the activities of its General Fund, along with all its Special Revenue, Capital Projects and Debt Service Funds. Since the City’s Internal Service Funds service governmental funds, their activities are consolidated with Governmental Activities, after eliminating interfund transactions and balances. The City’s Business-Type Activities include all its Enterprise Fund activities.

The Statement of Activities reports increases and decreases in the City’s net position. It is also prepared on the full accrual basis, which means it includes all the City’s revenues and all its expenses, regardless of when cash changes hands. This differs from the “modified accrual” basis used in the fund financial statements, which reflect only current assets, current liabilities, available revenues and measurable expenditures.

The format of the Statement of Activities presents the City’s expenses first, listed by program, and follows these with the expenses of its business-type activities. Program revenues, that is revenues, which are generated directly by these programs, are then deducted from program expenses to arrive at the net expense of each governmental and business-type program. The City’s general revenues are then listed in the Governmental Activities or Business-Type Activities column, as appropriate, and the Change in Net Position is computed and reconciled with the Statement of Net Position. 17 This Page Intentionally Left Blank

CITY OF EMERYVILLE

STATEMENT OF NET POSITION
JUNE 30, 2022
Governmental Business-Type
Activities Activities Total
ASSETS:

Cash, cash equivalents, and investments (Note 3) 182,990,539 $ 7,961,899 $ 190,952,438 $ Cash, cash equivalents, and investments with fiscal agents (Note 3) 10,805,405 - 10,805,405 Receivables:

Accounts 1,865,408 170,537 2,035,945
Taxes 3,940,048 3,940,048 -
Due from other governments 1,079,700 - 1,079,700
Accrued interest 133,625 5,954 139,579
Prepaid costs 43,675 - 43,675
Land held for resale (Note 1D) 17,943,395 - 17,943,395
Capital assets (Note 6):

Capital assets not being depreciated 63,321,331 468,084 63,789,415 Depreciable capital assets, net 49,261,188 7,430,652 56,691,840 Total Assets 331,384,314 16,037,126 347,421,440

DEFERRED OUTFLOWS OF RESOURCES
Related to pensions (Note 9) 12,294,736 52,397 12,347,133 Related to OPEB (Note 11) 1,414,057 11,404 1,425,461
Total Deferred Outflows of Resources 13,708,793 63,801 13,772,594 LIABILITIES:

Accounts payable 7,151,598 279,773 7,431,371
Accrued liabilities 3,357,408 - 3,357,408
Accrued interest 10,034 - 10,034
Unearned revenue 3,610,448 - 3,610,448
Deposits payable 1,817,273 - 1,817,273
Claims and judgements (Note 12):

Due within one year 708,886 - 708,886
Due in more than one year 2,299,609 - 2,299,609
Compensated absences (Note 7):

Due within one year 1,651,891 - 1,651,891
Due in more than one year 1,463,995 - 1,463,995
Long-term debt (Note 7):

Bonds due within one year 306,900 - 306,900
Bonds due in more than one year 1,686,500 - 1,686,500
Net pension liabilities, due in more than one year (Note 9) 28,115,332 117,214 28,232,546 Net OPEB liability, due in more than one year (Note 11) 7,519,374 60,640 7,580,014 Total Liabilities 59,699,248 457,627 60,156,875
DEFERRED INFLOWS OF RESOURCES:

Related to pensions (Note 9) 23,051,255 126,173 23,177,428 Related to OPEB (Note 11) 197,810 1,595 199,405
Total Deferred Inflows of Resources 23,249,065 127,768 23,376,833 NET POSITION (Note 1D):

Net investments in capital assets 110,589,119 7,898,736 118,487,855 Restricted for:

Community development projects 32,787,431 - 32,787,431
Public safety 3,053,959 - 3,053,959
Public works 2,161,383 - 2,161,383
Capital projects 12,900,894 7,616,796 20,517,690
Debt service 3,051 - 3,051
Small business incentive 103,228 - 103,228
Community services 110,168 - 110,168
Environmental programs 127,548 - 127,548
Pensions 174,286 - 174,286
Total Restricted Net Position 51,421,948 7,616,796 59,038,744 Unrestricted 100,133,727 - 100,133,727
Total Net Position $ 262,144,794 $ 15,515,532 $ 277,660,326 See accompanying notes to basic financial statements
19 Program Revenues
Operating Capital
Charges for Contributions Contributions
Functions/Programs Expenses Services and Grants and Grants Primary Government

GOVERNMENTAL ACTIVITIES
City council $ 197,243 $ 3,795 $ - $ -
City manager 934,960 - - -
City attorney 607,030 - - -
Finance 974,606 47,651 - -
Human resources 772,882 - - -
Information technology 1,320,056 - - -
General government-non-departmental operations 3,612,909 1,920,662 342,142 - Police 13,098,319 1,008,845 238,452 -
Fire 9,864,213 1,575,451 247 -
Planning and building 5,139,274 6,284,428 16,057 -
Economic development and housing 2,292,520 2,026,615 - - Redevelopment - 46,746 752,233 -
Property based improvement district 4,859,599 4,172,977 - - Community services 833,438 197,127 - -
Child development 2,144,936 1,003,981 245,942 -
Youth services 1,410,175 203,990 18,630 -
Adult services 643,265 21,834 23,081 -
Public works 8,240,855 1,220,779 2,592,714 391,727
Interest on long-term debt 66,308 - - -
Total Governmental Activities 57,012,588 17,708,266 6,256,113 391,727 BUSINESS-TYPE ACTIVITIES:

Sewer 496,337 1,239,790 - -
Total Business-type Activities 496,337 1,239,790 - -
Total Primary Government $ 18,948,056 57,508,925 $ 6,256,113 $ 391,727 $ GENERAL REVENUES:

Taxes:

Property taxes, levied for general purposes
Transient occupancy taxes
Sales taxes
Franchise taxes
Business licenses taxes
Utility user taxes
Motor vehicle in-lieu - unrestricted
Use of money and property
Miscellaneous
TRANSFERS (Note 4)
Total General Revenues And Transfers

CHANGE IN NET POSITION

BEGINNING NET POSITION

ENDING NET POSITION
See accompanying notes to basic financial statements

CITY OF EMERYVILLE

STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2022
20 Net (Expense) Revenue and
Changes in Net Position
Governmental Business-type
Activities Activities Total
$ (193,448) $ (193,448) - $
(934,960) - (934,960)
(607,030) - (607,030)
(926,955) - (926,955)
(772,882) - (772,882)
(1,320,056) - (1,320,056)
(1,350,105) - (1,350,105)
(11,851,022) - (11,851,022)
(8,288,515) - (8,288,515)
1,161,211 - 1,161,211
(265,905) - (265,905)
798,979 - 798,979
(686,622) - (686,622)
(636,311) - (636,311)
(895,013) - (895,013)
(1,187,555) - (1,187,555)
(598,350) - (598,350)
(4,035,635) - (4,035,635)
(66,308) - (66,308)
(32,656,482) - (32,656,482)
- 743,453 743,453
- 743,453 743,453
(32,656,482) 743,453 (31,913,029)
12,040,438 - 12,040,438
4,500,562 - 4,500,562
12,020,818 - 12,020,818
2,239,676 - 2,239,676
9,614,930 - 9,614,930
3,381,368 - 3,381,368
1,090,015 - 1,090,015
(1,905,456) 16,883 (1,888,573)
2,815,869 - 2,815,869
51,500 (51,500) -
45,849,720 (34,617) 45,815,103
13,193,238 708,836 13,902,074
248,951,556 14,806,696 263,758,252
$ 15,515,532 262,144,794 $ 277,660,326 $
21 This Page Intentionally Left Blank

CITY OF EMERYVILLE

FUND FINANCIAL STATEMENTS
The Fund Financial Statements are formatted so that only individual major funds are presented, while nonmajor funds are combined in a single column. Major funds are defined generally as having significant activities or balances in the current year. No distinction is made between fund types and the practice of combining like funds.

The funds described below were determined to be major funds by the City for fiscal year 2021-22.

Individual nonmajor funds may be found in the supplemental section.

The General Fund is the general operating fund of the City and accounts for all financial resources except those required to be accounted for in another fund. The major revenues to the General Fund are taxes (property, sales, business licenses, utility users and transient occupancy), which comprise the majority of the fund’s annual revenue stream. The major expenditure of the General Fund is Public Safety (police and fire), which accounts for the majority of the fund’s annual expenditure stream.

The Other Grants Fund accounts for funds from third-party grants and other sources and is used to segregate costs to be reimbursed by grants. This fund was initiated in 1998.

The Housing Assets Fund accounts for the assets transferred from the Low and Moderate Income Housing Fund (LMIHF) to the City as Housing Successor. The Fund includes loans and notes receivable, rents, and payments on these receivables after February 1, 2012, and amounts due to the LMIHF, including the SERAF loans. All monies in the Housing Assets Fund must be used in accordance with the applicable housing-related provisions of the Community Redevelopment Law.

The Property Based Improvement District Fund accounts for commercial and residential property assessments and General Fund contributions collected to fund the Emery Go-Round, the City’s shuttle service.

The General Capital Improvements Fund accounts for general capital projects. The Fund includes expenditures related to improvements to buildings, equipment, infrastructure, and other systems, such as storm drains, sidewalks, etc. The main source of funding for these costs comes from general revenues transferred from the General Fund. Beginning in fiscal year 2012-13, this Fund also receives a portion of the residual property taxes distributed to the City as a result of the dissolution of redevelopment, which occurred February 1, 2012.

The RDA Bond Fund accounts for capital funds of the former redevelopment agency that have been approved for transfer to the City.
23 Property Based
Housing Improvement
General Other Grants Assets District
ASSETS:

Cash, cash equivalents, and investments (Note 3) 51,860,581 $ 4,608,413 $ 5,131,904 $ 2,989,458 $ Cash, cash equivalents, and investments with fiscal agents (Note 3) 10,805,405 - - - Receivables:

Accounts 1,096,039 519,702 197 178,575
Taxes 3,055,011 - - 2,329
Due from other governments 265,644 766,056 - -
Accrued interest 49,277 2,379 3,796 1,302
Prepaid costs 41,786 - - -
Land held for resale (Note 1D) - - 17,943,395 -
Total Assets $ 67,173,743 $ 5,896,550 $ 23,079,292 $ 3,171,664 LIABILITIES:

Accounts payable $ 3,510,655 $ 2,515 $ - 2,405,090 $
Accrued liabilities 359,462 2,969,868 - -
Unearned revenue 3,268,776 94,870 - 178,575
Deposits payable 547,706 - - -
Total Liabilities 7,686,599 3,067,253 - 2,583,665
DEFERRED INFLOWS OF RESOURCES:

Unavailable revenue 603,717 766,057 - -
Total Deferred Inflows of Resources 603,717 766,057 - - FUND BALANCES (Note 1D):

Nonspendable:

Prepaid costs 41,786 - - -
Restricted for:

Community development projects 19,670 - 23,079,292 -
Public safety - - - -
Public works - - - -
Capital projects - 2,063,240 - -
Debt service - - - -
Small business incentive 100,000 - - -
Community services - - - -
Environmental programs - - - -
Pensions 174,286 - - -
Committed to:

Community development projects - - - -
Capital projects - - - -
Facility maintenance - - - -
Vehicle replacement - - - -
Information technology - - - -
Economic uncertainty 22,978,571 - - -
PERS liability 13,172,871 - - -
Economic development 2,678,518 - - -
Community programs 346,123 - - 587,999
Assigned to:

Capital projects - - - -
Community services - - - -
Disasters 3,142,251 - - -
Unassigned 16,229,351 - - -
Total Fund Balances 58,883,427 2,063,240 23,079,292 587,999 Total Liabilities, Deferred Inflows of Resources
and Fund Balances $ 67,173,743 $ 5,896,550 $ 23,079,292 $ 3,171,664 See accompanying notes to basic financial statements
Special Revenue Funds

CITY OF EMERYVILLE

GOVERNMENTAL FUNDS

BALANCE SHEET
JUNE 30, 2022
24 General Nonmajor Total
Capital Governmental Governmental
Improvements RDA Bond Funds Funds
$ 47,028,525 $ 1,293,876 $ 51,673,581 $ 164,586,338
- - - 10,805,405
- 600 59,762 1,854,875
75,711 - 806,997 3,940,048
- - 48,000 1,079,700
34,470 962 27,943 120,129
- - - 41,786
- - - 17,943,395
$ 47,138,706 $ 1,295,438 $ 52,616,283 $ 200,371,676
$ 560,212 $ - $ 603,438 $ 7,081,910
17,571 - 10,507 3,357,408
- - 68,227 3,610,448
- - 1,268,456 1,816,162
577,783 - 1,950,628 15,865,928
- - - 1,369,774
- - - 1,369,774
- - - 41,786
- - 9,688,469 32,787,431
- - 3,053,959 3,053,959
- - 2,161,383 2,161,383
- 1,295,438 9,542,216 12,900,894
- - 3,051 3,051
- - 3,228 103,228
- - 110,168 110,168
- - 127,548 127,548
- - - 174,286
- - 7,072,314 7,072,314
46,560,923 - - 46,560,923
- - 5,958,267 5,958,267
- - 4,174,635 4,174,635
- - 2,929,795 2,929,795
- - - 22,978,571
- - - 13,172,871
- - - 2,678,518
- - - 934,122
- - 5,436,635 5,436,635
- - 403,987 403,987
- - - 3,142,251
- - - 16,229,351
46,560,923 1,295,438 50,665,655 183,135,974
$ 47,138,706 $ 1,295,438 $ 52,616,283 $ 200,371,676
Capital Projects Funds
25 This Page Intentionally Left Blank

CITY OF EMERYVILLE

GOVERNMENTAL FUNDS

BALANCE SHEET - RECONCILIATION OF GOVERNMENTAL

FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES JUNE 30, 2022
Total Fund Balances - Governmental Funds $ 183,135,974
Amounts reported for Governmental Activities in the Statement of Net Position are different from those reported in the Governmental Funds above because of the following:

Capital assets used in Governmental Activities are not current assets or financial resources and therefore are not reported in the Governmental Funds. 112,582,519
Pension contributions made subsequent to the measurement date of the net pension liability are deferred and recognized in the subsequent period. These include:

Miscellaneous pension plan $ 1,761,757
Safety pension plan 3,613,298 5,375,055
Other post-employment benefit (OPEB) contributions made subsequent to the measurement date of the net OPEB liability are deferred and recognized in the subsequent period. Adjustments that increase net OPEB liability are recorded as deferred outflows of resources and are amortized over their remaining service life. 1,414,057 Adjustments that increase net pension liability are recorded as deferred outflows of resources and are amortized over their remaining service life. These include:

Miscellaneous pension plan 2,065,935
Safety pension plan 4,357,628
Emeryville Police Officers' Association retirement enhancement plan 496,118 6,919,681 Accrued interest on long-term debt does not require current financial resources. Therefore, accrued interest is not reported as a liability in the governmental funds balance sheet. (10,034) Long-term liabilities are not due and payable in the current period and therefore, are not reported in the governmental funds balance sheet. These include:

Lease Revenue Bonds (1,993,400)
Governmental funds report all pension contributions as expenditures, however, in the statement of net position, the excess of the plan proportionate share of the total pension liability over the proportionate share of the plan fiduciary net position is reported as a net pension liability. These include:

Miscellaneous pension plan (7,856,517)
Safety pension plan (19,631,975)
Emeryville Police Officers' Association retirement enhancement plan (626,840) (28,115,332) Adjustments that reduce net pension liability are recorded as deferred inflows of resources and are amortized over their remaining service life. These include:

Miscellaneous pension plan (8,456,998)
Safety pension plan (14,375,509)
Emeryville Police Officers' Association retirement enhancement plan (218,748) (23,051,255) Governmental funds report all OPEB contributions as expenditures, however, in the statement of net position, the excess of the plan proportionate share of the total OPEB liability over the proportionate share of the plan fiduciary net position is reported as a net OPEB liability. (7,519,374) Adjustments that reduce net OPEB liability are recorded as deferred inflows of resources and are amortized over their remaining service life. (197,810)
The Statement of Net Position reports receivables at their net realizable value. However, receivables not available to pay for current period expenditures are deferred and reported as unavailable revenues in the governmental funds. 1,369,774
Internal service funds are not governmental funds. However, they are used by management to charge the costs of certain activities, such as insurance and accrued benefits, to individual governmental funds. The assets and liabilities of the Internal Service Funds are therefore included in Governmental Activities in the following line items in the Statement of Net Position. 12,234,939 NET POSITION OF GOVERNMENTAL ACTIVITIES $ 262,144,794
See accompanying notes to basic financial statements

ALLOCATION OF INTERNAL SERVICE FUND NET POSITION
27 Property
Based
Housing Improvement
General Other Grants Assets District
REVENUES:

Taxes 36,975,855 $ - $ $ 4,261,370 - $
Licenses and permits 8,511,793 - - -
Intergovernmental 3,174,192 1,684,422 - -
Charges for services 548,684 - 45,047 -
Investment income (2,618,538) 6,906 255,725 3,736
Rental income 436,712 - 16,408 -
Contributions 320,708 - - -
Miscellaneous 1,227,215 - 615,567 -
Total Revenues 48,576,621 1,691,328 932,747 4,265,106
EXPENDITURES:

Current:

City council 184,998 - - 17,600
City manager 942,544 - - -
City attorney 536,178 - - -
Finance 984,478 - - -
Human resources 780,633 - - -
Information technology 789,206 - - -
General government-non-departmental operations 2,693,219 - - - Police 14,153,295 29,279 - -
Fire 9,553,333 - - -
Planning and building 4,363,795 - - -
Economic development and housing 704,802 - 910,467 -
Property based improvement district - - - 4,859,599
Community services 734,620 - - -
Child development - - - -
Youth services 1,386,293 - - -
Adult services 517,395 50,000 - -
Public works 3,763,659 - - -
Capital outlay 8,319 1,447,991 - -
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 42,096,767 1,527,270 910,467 4,877,199

EXCESS (DEFICIENCY) OF REVENUES OVER
(UNDER) EXPENDITURES 6,479,854 164,058 22,280 (612,093) OTHER FINANCING SOURCES (USES):

Transfers in (Note 4A) 1,591,823 64,619 - 564,726
Transfers (out) (Note 4A) (3,488,244) - - -
Total Other Financing Sources (Uses) (1,896,421) 64,619 - 564,726 CHANGE IN FUND BALANCES 4,583,433 228,677 22,280 (47,367) BEGINNING FUND BALANCES 54,299,994 1,834,563 23,057,012 635,366 ENDING FUND BALANCES $ 58,883,427 $ 2,063,240 $ 23,079,292 $ 587,999 See accompanying notes to basic financial statements
Special Revenue Funds

CITY OF EMERYVILLE

GOVERNMENTAL FUNDS

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2022
28 General Nonmajor Total
Capital Governmental Governmental
Improvements RDA Bond Funds Funds
$ 2,023,141 $ - $ 4,927,662 $ 48,188,028
- - 1,801,560 10,313,353
- - 1,374,276 6,232,890
- - 1,217,327 1,811,058
100,017 3,836 133,427 (2,114,891)
- - 458,924 912,044
- - - 320,708
- - 2,907,218 4,750,000
2,123,158 3,836 12,820,394 70,413,190
- - - 202,598
- - - 942,544
- - - 536,178
- - - 984,478
- - - 780,633
- - 506,266 1,295,472
333,397 - 535,025 3,561,641
- - 476,504 14,659,078
- - 213,241 9,766,574
- - 801,367 5,165,162
- - 687,726 2,302,995
- - - 4,859,599
- - 99,160 833,780
- - 2,142,038 2,142,038
- - - 1,386,293
- - - 567,395
477,485 - 596,984 4,838,128
1,909,169 2,381,357 796,788 6,543,624
- - 299,200 299,200
- - 68,995 68,995
2,720,051 2,381,357 7,223,294 61,736,405
(596,893) (2,377,521) 5,597,100 8,676,785
- - 3,478,518 5,699,686
(555,000) - (1,604,942) (5,648,186)
(555,000) - 1,873,576 51,500
(1,151,893) (2,377,521) 7,470,676 8,728,285
47,712,816 3,672,959 43,194,979 174,407,689
$ 46,560,923 $ 1,295,438 $ 50,665,655 $ 183,135,974
Capital Projects Funds
29 CITY OF EMERYVILLE

RECONCILIATION OF THE

NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS

WITH THE

STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2022
The schedule below reconciles the Net Changes in Fund Balances reported on the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance, which measures only changes in current assets and current liabilities on the modified accrual basis, with the Change in Net Position of Governmental Activities reported in the Statement of Activities, which is prepared on the full accrual basis.

Net Change in Fund Balances - Total Governmental Funds $ 8,728,285 Amounts reported for governmental activities in the Statement of Activities are different because of the following:

CAPITAL ASSETS TRANSACTIONS
Governmental Funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is capitalized and allocated over their estimated useful lives and reported as depreciation expense.

Capital outlay expenditures are therefore added back to fund balance 6,543,624 Non-capitalized capital outlay expenditures are reclassified to various governmental activities (991,578) Loss on retirements of capital assets are deducted from fund balance (57,905) Depreciation expense is deducted from fund balance (3,119,490)

LONG-TERM DEBT PAYMENTS
Repayment of principal and interest is an expenditure in governmental funds, but in the Statement of Net Position the repayment reduces long-term liabilities.

Repayment of debt principal is added back to fund balance 299,200 Repayment of debt interest is added back to fund balance 2,687

ACCRUAL OF NON-CURRENT ITEMS
The amounts below included in the Statement of Activities do not provide or (require) the use of current financial resources and therefore are not reported as revenue or expenditures in governmental funds (net change):

Unavailable revenue (297,781)
Net pension liabilities and pension-related deferred outflows/inflows of resources 1,962,568 Net OPEB liability and OPEB related deferred outflows/inflows or resources (579,072)

ALLOCATION OF INTERNAL SERVICE FUND ACTIVITY
Internal Service Funds are used by management to charge the costs of certain activities, such as insurance and accrued benefits to individual funds. The portion of the net revenue (expense) of these Internal Service Funds arising out of their transactions with governmental funds is reported with governmental activities, because they service those activities.

Change in Net Position - All Internal Service Funds 702,700 CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ 13,193,238 See accompanying notes to basic financial statements
30 CITY OF EMERYVILLE

PROPRIETARY FUNDS STATEMENTS
Proprietary Funds account for City 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.

The concept of major funds established by GASB Statement No. 34 extends to Proprietary Funds. The City has only one enterprise fund, the Sewer Fund, which is described below:

GASB Statement No. 34 does not provide for the disclosure of budget vs. actual comparisons regarding proprietary funds that are major funds.

The Sewer Fund accounts for the operation and maintenance of the City sewer system. The fund is supported by Sewer Service Charges billed through water usage bills and connection fees.

The Internal Service Funds account for the financing of goods and services provided by one department or agency to other departments or agencies on a cost-sharing basis. 31 CITY OF EMERYVILLE

PROPRIETARY FUNDS

STATEMENT OF NET POSITION
JUNE 30, 2022
Business-type
Activities -
Proprietary Fund Governmental
Activities -
Internal Service
Sewer Funds
ASSETS:

Current Assets:

Cash and investments (Note 3) $ 18,404,201 7,961,899 $
Receivables:

Accounts 170,537 10,533
Accrued interest 5,954 13,496
Prepaid costs - 1,889
Total Current Assets 8,138,390 18,430,119
Noncurrent Assets:

Capital assets (Note 6):

Nondepreciable capital assets 468,084 -
Depreciable capital assets, net 7,430,652 -
Total Noncurrent Assets 7,898,736 -
Total Assets 16,037,126 18,430,119

DEFERRED OUTFLOWS OF RESOURCES
Related to pensions (Note 9) 52,397 -
Related to OPEB (Note 11) 11,404 -
Total Deferred Outflows of Resources 63,801 -
LIABILITIES:

Current Liabilities:

Accounts payable 279,773 69,688
Deposits payable - 1,111
Compensated absences (Note 7) - 1,651,891
Claims and judgements (Note 12) - 708,886
Total Current Liabilities 279,773 2,431,576
Noncurrent Liabilities:

Compensated absences (Note 7) - 1,463,995
Claims and judgements (Note 12) - 2,299,609
Net pension liabilities, due in more than one year (Note 9) 117,214 - Net OPEB liabilities (Note 11) 60,640 -
Total Noncurrent Liabilities 177,854 3,763,604
Total Liabilities 457,627 6,195,180
DEFERRED INFLOWS OF RESOURCES:

Related to pensions (Note 9) 126,173 -
Related to OPEB (Note 11) 1,595 -
Total deferred inflows of resources 127,768 -
NET POSITION (Note 1D):

Net investments in capital assets 7,898,736 -
Restricted for capital projects 7,616,796 -
Unrestricted - 12,234,939
Total Net Position $ 15,515,532 $ 12,234,939
See accompanying notes to basic financial statements
32 CITY OF EMERYVILLE

PROPRIETARY FUNDS

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION FOR THE YEAR ENDED JUNE 30, 2022
Business-type
Activities -
Proprietary Fund Governmental
ActivitiesInternal Service
Sewer Funds
OPERATING REVENUES:

Charges for services $ 1,239,790 $ 15,460,946
Intergovernmental - 10,753
Total Operating Revenues 1,239,790 15,471,699
OPERATING EXPENSES:

Administrative and general 223,063 14,468,641
Cost of sales and services 82,261 -
Claims expense - 339,275
Depreciation (Note 6) 191,013 -
Total Operating Expenses 496,337 14,807,916
Operating Income 743,453 663,783
NONOPERATING REVENUES:

Investment income 16,883 38,917
Net Nonoperating Revenues 16,883 38,917
Income Before Transfers 760,336 702,700

TRANSFERS
Transfers (out) (Note 4A) (51,500) -
Net Transfers (51,500) -
CHANGE IN NET POSITION 708,836 702,700
BEGINNING NET POSITION 14,806,696 11,532,239
ENDING NET POSITION $ 12,234,939 15,515,532 $
See accompanying notes to basic financial statements
33 CITY OF EMERYVILLE

PROPRIETARY FUNDS

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED JUNE 30, 2022
Business-type
Activities -
Proprietary Fund
Governmental
ActivitiesInternal Service
Sewer Funds
CASH FLOWS FROM OPERATING ACTIVITIES:

Receipts from customers and users $ 1,179,966 $ 15,468,674 Payments to suppliers and providers 173,927 (616,378)
Payments for claims - (727,511)
Payments to employees for salaries and benefits (218,499) (13,813,939) Net Cash Flows From Operating Activities 1,135,394 310,846

CASH FLOWS FROM NONCAPITAL AND
RELATED FINANCING ACTIVITIES:

Transfers (out) (51,500) -
Net Cash Flows From Noncapital and
Related Financing Activities (51,500) -

CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES:

Acquisition of capital assets (462,954) -
Net Cash Flows From NonCapital and Related Financing Activities (462,954) - CASH FLOWS FROM INVESTING ACTIVITIES:

Investment on cash and investments 13,437 27,124
Net Cash Flows From Investing Activities 13,437 27,124
NET CASH FLOWS 634,377 337,970
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD 7,327,522 18,066,231 CASH AND EQUIVALENTS AT END OF PERIOD $ 18,404,201 7,961,899 $

RECONCILIATION OF OPERATING INCOME TO
NET CASH PROVIDED BY OPERATING ACTIVITIES:

Operating income 743,453 $ 663,783 $
Adjustments to reconcile operating income to net cash
provided by operating activities:

Depreciation 191,013 -
Change in assets and liabilities:
(Increase) decrease in accounts receivable (59,824) 2,276 Increase (decrease) in accounts payable 256,188 (3,367) Increase in deposits payable - 1,111
Increase in compensated absences - 35,279
(Decrease) in claims and judgements - (388,236)
Increase in salaries and benefits payable 4,564 -
Net Cash Flows From Operating Activities $ 310,846 1,135,394 $ See accompanying notes to basic financial statements
34 CITY OF EMERYVILLE

FIDUCIARY FUNDS STATEMENTS
Fiduciary Funds include all Trust and Custodial funds, which account for assets held by the City as a trustee or agent for individuals, other governmental units and/or other funds.

The Private-Purpose Trust Funds were established to account for the assets and liabilities of the City of Emeryville as Successor Agency to the former Emeryville Redevelopment Agency per the Redevelopment dissolution laws AB 1X 26, AB 1484 and SB 107. The Funds are allocated revenue (previously known as property tax increment revenue) to pay estimated payments of the enforceable obligations as approved by the State Department of Finance, until obligations of the former Redevelopment Agency are paid in full and assets have been liquidated. The Funds also receive certain payments for leases and notes that are payable to the former Redevelopment Agency.

The Custodial Funds account for receipt of special assessments and the payment of principal, interest and bond administration costs on Assessment District Bonds. These funds are treated as Fiduciary Funds to report resources held by the City in a purely custodial capacity, which involves only the receipt, temporary investment and remittance of fiduciary resources to individuals, private organizations or other governments.

These funds are separate and unrelated to the City of Emeryville funds. 35 Successor Agency
Private-Purpose Custodial
Trust Funds Funds
CURRENT ASSETS:

Cash and investments (Notes 3 and 14A) $ 1,145,027 8,230,786 $ Cash and investments with fiscal agents (Notes 3 and 14A) 9,936,371 - Receivables:

Accounts 221 -
Accrued interest 12,018 846
Prepaid costs 340,462 -
Total Current Assets 18,519,858 1,145,873
NONCURRENT ASSETS:

Loans receivable (Note 14C) 11,742,854 -
Land held for resale 24,818,694 -
Capital assets (Note 14E):

Capital assets not being depreciated 11,333,991 -
Total Noncurrent Assets 47,895,539 -
Total Assets 66,415,397 1,145,873
CURRENT LIABILITIES:

Accounts payable 1,897,525 -
Accrued interest 1,002,722 -
Bonds due in one year (Note 14F) 8,105,000 -
Pollution remediation obligations due in one year (Note 14G) 50,000 - Total Current Liabilities 11,055,247 -
NONCURRENT LIABILITIES:

Bonds due in more than one year (Note 14F) 63,201,899
Pollution remediation obligations due in more than one year (Note 14G) 517,500 - Total Non-Current Liabilities 63,719,399 -
Total Liabilities 74,774,646 -

NET POSITION RESTRICTED FOR INDIVIDUALS
AND OTHER ORGANIZATIONS (8,359,249) $ 1,145,873 $
See accompanying notes to basic financial statements

CITY OF EMERYVILLE

FIDUCIARY FUNDS

STATEMENT OF FIDUCIARY NET POSITION
JUNE 30, 2022
36 Successor Agency
Private-Purpose Custodial
Trust Funds Funds
ADDITIONS:

Taxes $ 15,220,660 $ -
Special assessments - 51,168
Investment income 284,828 2,466
Total Additions 15,505,488 53,634
DEDUCTIONS:

Administrative expenses 360,930 -
Contractual services 5,978,175 1,500
Interest expense 2,342,749 -
Payment to bondholders - 576,205
Contributions to other governments 544,815 -
Total Deductions 9,226,669 577,705
Net change in position 6,278,819 (524,071)
Net position (deficit) - beginning (14,638,068) 1,669,944 Net position (deficit) - ending $ (8,359,249) $ 1,145,873

CITY OF EMERYVILLE

STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FOR THE YEAR ENDED JUNE 30, 2022
See accompanying notes to basic financial statements
37 This Page Intentionally Left Blank

CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) applicable to governmental entities. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. A summary of the City of Emeryville’s significant accounting policies applied in the preparation of these financial statements follows.

A. Reporting Entity
The City of Emeryville, California (the City), was incorporated in 1896. On November 4, 2014, the voters passed Measure U which established the City as a Charter City. The City operates under the Council-Manager form of government and provides the following services: public safety (police and fire); public works; community services such as adult services, child development and youth services; building and planning; economic development; and general administrative services.

These financial statements present the activities of the City, as the primary government, and its component units. The component units described below are included in the City’s reporting entity because of the significance of their operations or financial relationship with the City.

1. Blended Component Units
The Community Development Commission of Emeryville, the Emeryville Public Financing Authority, and the Management of Emeryville Services Authority are all entities controlled by and dependent on the City. While these are separate legal entities, City Council serves in separate sessions as their governing body, and the financial activities are integral to those of the City. The financial activities of these entities have been aggregated and merged (termed “blended”) with those of the City in the accompanying financial statements.

The Community Development Commission of Emeryville (the Commission) is a separate governmental entity whose purpose is to prepare and implement plans for improvement, rehabilitation and development of certain areas within the City. The Commission was formed in June 2011, in response to the Governor’s proposed State budget and enabling legislation that calls for the elimination of redevelopment agencies. The City Council and former Redevelopment Agency board established the Commission to continue the City’s economic development and affordable housing initiatives due to the State’s action to dissolve redevelopment agencies, and to safeguard the City’s general operations and bonding procedures that are currently conducted through joint exercise of power agreements between the City and the Successor Agency. The Commission has the same governing body as the City, which also performs all accounting and administrative functions for the Commission.
39 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The Emeryville Public Financing Authority (the Authority) is a separate governmental entity whose purpose is to assist with the financing or refinancing of certain public capital facilities within the City and Commission. The Authority has the power to purchase bonds issued by any local agency at public or negotiated sale and may sell such bonds to public or private purchasers at public or negotiated sale. The Authority is controlled by the City and has the same governing body as the City, which also performs all accounting and administrative functions for the Authority. The financial activities of the Authority are included in these financial statements in the Debt Service Funds. Separate financial statements for the Authority are not prepared.

The Management of Emeryville Services Authority (MESA) is a separate governmental entity whose purpose is to provide more efficient and cost-effective services management, administrative, special or general services to the City, Commission, Authority, and other governmental agencies.

MESA is controlled by the City and has the same governing body as the City, which also performs all accounting and administrative functions for MESA. The financial activities of MESA are reported in the MESA Internal Service Fund. Separate financial statements for the Authority are not prepared.

2. Fiduciary Fund
The Successor Agency of the Former Redevelopment Agency (the Successor Agency) was created January 17, 2012, as outlined in Assembly Bill 1X 26 (the Bill) which provides the requirements for the dissolution of all redevelopment agencies in the State of California. This action impacted the reporting entity of the City which had previously reported the activities of the former redevelopment agency within the reporting entity of the City as a blended component unit.

The Successor Agency is a separate legal entity from the City, but City Council serves in separate sessions as their governing body. The responsibilities of the City as Successor Agency of the Former Redevelopment Agency are limited to acting in a fiduciary capacity, until all enforceable obligations of the Successor Agency have been paid. Because of the nature and significance of the relationship between the City and the Successor Agency, it would be misleading to exclude the Successor Agency from the City’s financial statements. The financial activities of the Successor Agency are reported in the City’s fiduciary fund statements as a private-purpose trust fund.

Separate financial statements for the Successor Agency are not prepared.

B. Basis of Presentation

1. Government-Wide Financial Statements
The Statement of Net Position and the Statement of Activities display information about the primary government (the City) and its component units. These statements include the financial activities of the overall City government, except for fiduciary activities. Separate financial statements are prepared for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Eliminations have been made to minimize the double counting of internal activities. Interfund services provided and used are not eliminated in the process of consolidation. These statements distinguish between the governmental and business-type activities of the City. Governmental activities generally are financed through taxes, intergovernmental revenues and other nonexchange transactions. Businesstype activities are financed in whole or in part by fees charged to external parties. 40 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The Statement of Activities presents a comparison between direct expenses and program revenues for each segment of the business-type activities of the City and for each function of the City’s governmental activities. Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Program revenues include: a) charges paid by the recipients of goods or services offered by the programs, b) grants and contributions that are restricted to meeting the operation of a particular program or service, and c) development fees and permits, all of which are capital grants under California law. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues.

2. Fund Financial Statements
The fund financial statements provide information about the City’s funds, including its fiduciary funds and blended component units. Separate statements for each fund category (e.g., governmental, proprietary and fiduciary) are presented. The emphasis of fund financial statements is on major individual governmental and enterprise funds, each of which is displayed in a separate column. All remaining governmental and enterprise funds are aggregated and reported as nonmajor funds.

Governmental or enterprise funds with assets and deferred outflows, liabilities and deferred inflows, revenues, or expenditures equal to at least 10% of their fund-type total, and at least 5% of the combined total of governmental funds and enterprise funds, are required to be reported as a major fund. A governmental or enterprise fund may also be presented as a major fund in the basic financial statements, even if it does not meet the size criteria just described, if the City’s officials believe that the fund is particularly important to the financial statement users (because of public interest, reporting consistency, or otherwise). The General Fund is always reported as a major fund.

The City reports the following major governmental funds in the accompanying financial statements:

The General Fund is the general operating fund of the City and accounts for all financial resources except those required to be accounted for in another fund. The major revenues to the General Fund are taxes (property, sales, business licenses, utility users and transient occupancy), which comprise approximately 66% of the fund’s annual revenue stream. The major expenditure of the General Fund is Public Safety (police and fire), which accounts for about half of the fund’s annual expenditure stream.

The Other Grants Fund is a special revenue fund initiated in 1998 to account for funds from third-party grants and other sources and is used to segregate costs to be reimbursed by grants.

The Housing Assets Fund is a special revenue fund created by the Redevelopment Dissolution Act (AB 1484) to account for the assets transferred from the Low- and Moderate-Income Housing Fund (LMIHF) to the City as the Housing Successor. The Fund includes loans and notes receivable, rents and payments on these receivables after February 1, 2012, and amounts due to the LMIHF, including the SERAF loans. The funding sources are primarily loan activities. All monies in the Housing Assets Fund must be used in accordance with the applicable housing-related provisions of the Community Redevelopment Law. 41 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The Property Based Improvement District Fund accounts for commercial and residential property assessments and General Fund contributions collected to fund the Emery Go-Round, the City’s shuttle service.

The General Capital Improvements Fund accounts for general capital projects, which include expenditures related to improvements to City capital assets. Source of funding comes from revenues transferred from the General Fund and a portion of the residual property taxes.

The RDA Bond Fund accounts for capital funds of the former redevelopment agency that have been approved for transfer to the City.

The City reports its enterprise fund as a major fund in the accompanying financial statements:

The Sewer Fund accounts for the operation and maintenance of the City sewer system. The fund is supported by sewer service charges billed through water usage bills and connection fees.

The City also reports the following fund types:

The Special Revenue Funds account for taxes and other revenues, which are set aside for a specific purpose in accordance with law or administrative regulation.

The Capital Projects Funds account for financial resources used for the acquisition or construction of major capital facilities.

The Debt Service Funds account for the accumulation of resources for, and the payment of, general long-term debt principal and interest payments.

The Internal Service Funds account for the activities of the MESA, accrued leave, workers’ compensation, litigation, dental and unemployment coverage, all of which are provided to other departments on a cost-sharing basis.

The Private-Purpose Trust Funds were established to account for the assets and liabilities of the Successor Agency of the former redevelopment agency and is allocated revenue to pay estimated payments of the enforceable obligations until obligations of the former redevelopment agency are paid in full and assets have been liquidated.

The Custodial Funds account for the receipt of special assessments and the payment of principal and interest and bond administration costs on Assessment District Bonds. Custodial funds are used to account for fiduciary activities that are not required to be reported in pension (and other employee benefit) trust funds, investment trust funds, or private-purpose trust funds. 42 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
During the course of operations, the government has activity between funds for various purposes.

Any residual balances outstanding at the end of the year are reported as advances to/from other funds. While these balances are reported in fund financial statements, certain eliminations are made between the funds included in governmental activities (i.e., the governmental and internal services funds) are eliminated so that only the net amount is included as internal balances in the governmental activities column.

Further, certain activities occur during the year involving transfers of resources between funds. In the fund financial statements, these amount are reported at gross amounts as transfers in and out.

While reported in the fund financial statements, certain eliminations are made in the preparation of the government-wide financial statements. Transfers between the funds included in governmental activities are eliminated.

C. Measurement Focus, Basis of Accounting and Financial Statement Presentation The accounting and financial reporting treatment is determined by the applicable measurement focus and basis of accounting. Measurement focus indicates the type of resources being measured such as current financial resources or economic resources. The basis of accounting indicates the timing of transactions or events for recognition in the financial statements.

1. Government-Wide Financial Statements
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

2. Fund Financial Statements
The governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period.

For this purpose, the City considers all revenues reported in the governmental funds to be available if the revenues are collected within 60 days after the end of the year, except for sales tax revenue, which is considered available if collected within 90 days after the end of the year. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, and claims and judgments, are recorded only when payment is due. General capital asset acquisitions are reported as expenditures in governmental funds. Issuance of long-term debt and acquisitions under capital leases are reported as other financing sources.
43 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Property taxes, sales taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Entitlements are recorded as revenues when all eligibility requirements are met, including any time requirements, and the amount is received during the period or within the availability period for this revenue source (within 60 days after the end of the year). Expendituredriven grants are recognized as revenue when the qualifying expenditures have been incurred and all other eligibility requirements have been met, and the amount is received during the period, or within the availability period for this revenue source (within 60 days after the end of the year). Under the terms of grant agreements, the City may fund certain programs with a combination of costreimbursement grants, categorical block grants and general revenues. Thus, both restricted and unrestricted net position may be available to finance program expenditures. The City’s policy is to first apply restricted grant resources to such programs, followed by general revenues, if necessary.

All other revenues are considered to be measurable and available only when cash is received by the government. Certain indirect costs are included in program expenses reported for individual functions and activities.

The Proprietary Fund Financial Statements, which includes the City’s enterprise fund, and internal services funds, as well as the Fiduciary Fund Financial Statements, are reported using the economic resources measurement focus and the accrual basis of accounting.

D. Assets, Liabilities, Deferred Outflows/Inflows of Resources and Net Position/Fund Balance

1. Cash and Investments
The City follows the practice of pooling cash and investments of all funds, except for restricted funds required to be held separately, for the purpose of obtaining the highest investment yield with the greatest safety and least risk. The balance in the pooled cash account is available to meet current operating requirements. Each fund’s share in this pool is displayed in the accompanying financial statements as ‘cash, cash equivalents, and investments.’ Cash and Cash Equivalents
Cash and cash equivalents are considered to be cash on hand, deposits with financial institutions, and short-term investments with original maturities of three months or less from the date of acquisition. Cash and cash equivalents are included in the amounts reported as cash, cash equivalents and investments.

For purposes of reporting cash flows, the City considers each fund’s share in the cash and investments pool to be cash and cash equivalents, including cash and investments with fiscal agents.

Investments
City investments are recorded at fair value, which is primarily determined on the basis of quoted market prices at the end of the year. 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. 44 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
In addition, these structured notes and asset-backed securities are subject to market risk as to change in interest rates.

Investment income includes interest earnings, changes in fair value of investments held to maturity, and any gains or losses realized upon liquidation, maturity, or sale of investments. Investment earnings of the pooled investments are allocated to the various funds based on each fund’s average cash and investment balance at the end of a quarter. Investment income earned from restricted cash and investments is credited directly to the related fund.

2. Prepaid Costs
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid costs in both the government-wide and fund financial statements. The cost of prepaid items is recorded as expenditures/expenses when consumed rather than when purchased.

3. Land Held for Resale
Land purchased for resale is capitalized as inventory at acquisition costs plus the cost of environmental remediation clean-up, or net realizable value, if lower.

4. Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the applicable governmental or business-type activities column in the government-wide financial statements, as well as in the proprietary and fiduciary fund statements, since the measurement focus for those fund types is on economic resources.

All capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Contributed capital assets are valued at their acquisition value on the date contributed.

The City’s policy is to capitalize all assets with costs exceeding certain minimum thresholds and with useful lives exceeding three years.

Costs associated with acquisition and construction of capital assets are not considered to be costs in the period that they are incurred, because of the future value that these assets provide to the City and its residents. With the exception of Land, and Construction in Progress, the City’s capital assets are depreciated using the straight-line method over their estimated useful lives, as indicated for each asset classification listed below. By doing this, the cost of these assets is systematically allocated over the number of years that the assets are expected to be useful. The City has assigned the useful lives and capitalization thresholds listed below to capital assets:
45 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Years Thresholds
Park and other improvements 20 $ 50,000
Building and improvements 25 - 50 50,000
Furnishings, vehicles and equipment 3 - 20 5,000
Marina improvements 5 - 50 50,000
Grading, curb, gutter, sidewalks and driveway approaches 10 - 50 50,000 Sewer equipment 5 - 20 5,000
Sewer improvements 65 50,000
Some capital assets may be acquired using federal and state grant funds or they may be contributed by developers or other governments. GASB Statement No. 34 requires that these contributions be accounted for as revenues at the time the capital assets are contributed.

With the implementation of GASB Statement No. 34, the City recorded all current year expenditures for its public domain (infrastructure) capital assets, including grading, curb, gutter, sidewalk and driveways approaches, which it maintains. GASB Statement No. 34 also requires the City to look back 20 years and estimate, depreciate and record prior year infrastructure costs. This retroactive restatement has been completed and the City’s capital assets and net position were increased by the undepreciated balance of infrastructure.

5. Deferred Outflows and Inflows of Resources
Pursuant to GASB Statement No. 63 “Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position,” and GASB Statement No. 65 “Items Previously Reported as Assets and Liabilities,” the City rereports deferred outflows and inflows of resources.

Deferred Outflows of Resources
In addition to assets, the statement of net position 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. The City has two items that qualify for reporting in this category. Outflows from changes in net pension liability and changes in net OPEB liability arise only under a full accrual basis of accounting and are reported in the government-wide Statement of Net Position and proprietary funds Statement of Net Position.

Deferred outflows of resources that are reported in the proprietary funds are also included in the Statement of Net Position.

46 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Deferred Inflows of Resources
In addition to liabilities, the statement of net position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The City has three items which qualify for reporting in this category. Inflows from changes in net pension liability and changes in net OPEB liability arise only under a full accrual basis of accounting and are reported in the government-wide Statement of Net Position and proprietary funds Statement of Net Position.

Deferred inflows of resources that are reported in the proprietary funds are also included in the Statement of Net Position. Additionally, unavailable revenues arise only under a modified accrual basis of accounting and are reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from multiple sources: special assessments, deferred loans, and grants. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available.

6. 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."

7. Receivables
All trade and property tax receivables are shown net of an allowance for uncollectable. The noncurrent portion of receivables related to revenue is set up as deferred inflow of resources and recognized as revenue when the receivables become current. The noncurrent portion of loans and other receivables are offset by fund balance reserve accounts.

8. Net Position
Net position is the excess of all the City’s assets and deferred outflows of resources over all its liabilities, and deferred inflows of resources, regardless of fund. Net position is divided into three captions under GASB Statement No. 34. These captions apply only to net position, which is determined only at the government-wide level, and are described below:

Net Investment in Capital Assets describes the portion of net position that is represented by the current net book value of the City’s capital assets, less the outstanding balance of any debt issued to finance these assets.

47 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Restricted describes the portion of net position that is restricted as to use by the terms and conditions of agreements with outside parties, governmental regulations, laws or other restrictions, which the City cannot unilaterally alter. These principally include developer fees received for use on capital projects, debt service requirements, funds restricted to community development projects purposes and funds for use in sewer operations and sewer connection fees.

Unrestricted describes the portion of net position that is not restricted as to use.

9. Net Position Flow Assumption
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted net position and unrestricted net position in the government-wide and proprietary fund financial statements, a flow assumption must be made about the order in which the resources are considered to be applied. It is the City’s policy to consider restricted net position to have been depleted before unrestricted net position is applied.

10. Fund Balances
In the fund financial statements, City funds report the following fund balance classification in accordance with GASB Statement No. 54:

Nonspendable includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact.

Restricted includes amounts that are constrained on the use of resources by either (a) external creditors, grantors, contributors, or laws of regulations of other governments or (b) by law through constitutional provisions or enabling legislation.

Committed includes amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the City’s highest authority, City Council. The formal action that is required to be taken to establish, modify, or rescind a fund balance commitment is a resolution. Included in the General Fund committed fund balance is a reserve for minimum economic uncertainty, as follows:

Economic uncertainty reserve target - the City’s policy is to maintain a target reserve of 50% of the General Fund annual operating budget. Appropriations are to be reserved for emergencies and limited to one-time and or short-term (one or two fiscal years) use.

Examples of such emergencies include, but are not limited to:
 Unplanned, major event such as a catastrophic disaster requiring expenditures over 5% of the General Fund adopted budget
 Economic uncertainties, local disasters and other hardships, or downturns in the local economy
 Budgeted revenue taken by another government entity
48 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
 Drop in projected/actual revenue of more than 5% of the General Fund adopted revenue budget
Assigned include amounts that are constrained by the City’s intent to be used for specific purposes but are neither restricted nor committed. The City Manager is authorized to assign amounts to a specific purpose, which was established by the governing body in a resolution.

Unassigned include the residual amounts that have not been restricted, committed, or assigned to specific purposes in the General Fund.

This reserve is considered primarily a working capital requirement, bridging the gap between the time expenses are paid and the time revenues are collected. Undesignated reserve balances will fluctuate from time to time and reflect annual operating results. This fund has no minimum threshold although sufficient balances are maintained to provide contingencies for unseen operating or capital needs and cash flow requirements.

The General Fund’s unassigned fund balance, together with the committed fund balance for economic uncertainty, total $39,207,922, or approximately 89% of $44,079,528 budgeted operating expenditures for fiscal year 2021-22.

11. Fund Balance Flow Assumption
Sometimes the City will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow assumption must be made about the order in which the resources are considered to be applied. It is the City’s policy to consider restricted fund balance to have been depleted before using any of the components of unrestricted fund balance. Further, when the components of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is applied last.

12. Lease Accounting
A lease is defined as a contract that conveys control of the right to use another entity’s nonfinancial asset (the underlying asset) as specified in the contract for a period of time in an exchange or exchange-like transaction. Examples of nonfinancial assets include buildings, land, vehicles, and equipment.

The City will record material leases under GASB 87, as required (see Note 1.E.). For fiscal year ended June 30, 2022, the City did not have any leases that met the City’s threshold.

49 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
E. New Accounting Standards
GASB Statement No. 87 – In June 2017, GASB issued Statement No. 87, Leases. The objective of this Statement is to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments. This Statement requires recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. It establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. Under this Statement, a lessee is required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to recognize a lease receivable and a deferred inflow of resources, thereby enhancing the relevance and consistency of information about governments’ leasing activities. The provisions of this Statement were implemented during fiscal year 2022. As part of the implementation of this Statement, the City reviewed its inventory of leases and determined that none met the City’s established threshold for recording leases under this Statement.

GASB Statement No. 89 – In June 2018, GASB issued Statement No. 89, Accounting for Interest Cost Incurred Before the End of a Construction Period. The objectives of this Statement are to enhance the relevance and comparability of information about capital assets and the cost of borrowing for a reporting period and to simplify accounting for certain interest costs. This Statement requires that interest cost incurred before the end of a construction period be recognized as an expense in the period in which the cost is incurred for financial statements prepared using the economic resources measurement focus. As a result, interest cost incurred before the end of a construction period will not be included in the historical cost of a capital asset reported in the financial statements. The provisions of this Statement were implemented during fiscal year 2022. The implementation had no effect on the financial statements.

GASB Statement No. 93 – In March 2020, GASB issued Statement No. 93, Replacement of Interbank Offered Rates. The primary objective of this Statement is to address accounting and financial reporting implications that result from the replacement of an interbank offered rate (IBOR). The provisions of this Statement were implemented during fiscal year 2022. The implementation had no effect on the financial statements.

GASB Statement No. 97 – In June 2020, GASB issued Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans. The primary objectives of this Statement are to (1) increase consistency and comparability related to the reporting of fiduciary component units in circumstances in which a potential component unit does not have a governing board and the primary government performs the duties that a governing board typically would perform; (2) mitigate costs associated with the reporting of certain defined contribution pension plans, defined contribution other postemployment benefit (OPEB) plans, and employee benefit plans other than pension plans or OPEB plans (other employee benefit plans) as fiduciary component units in fiduciary fund financial statements; and (3) enhance the relevance, consistency, and comparability of the accounting and financial reporting for Internal Revenue Code (IRC) Section 457 deferred compensation plans (Section 457 plans) that meet the definition of a pension plan and for benefits provided through those plans. The provisions of this Statement were implemented during fiscal year 2022. This Statement had no material effect on the financial statements.
50 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
GASB Statement No. 98 – In October 2021, GASB issued Statement No. 98, The Annual Comprehensive Financial Report. This Statement establishes the term annual comprehensive financial report and its acronym ACFR. That new term and acronym replace instances of comprehensive annual financial report and its acronym in generally accepted accounting principles for state and local governments. The provisions of this Statement were implemented during fiscal year 2022. The implementation of this Statement did not have a material effect on the financial statements.

F. Revenues and Expenditures/Expenses

1. Program Revenues
Amounts reported as program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions (including special assessments) that are restricted to meeting the operational or capital requirements of a particular function or segment. All taxes, including those dedicated for specific purposes, and other internally dedicated resources are reported as general revenues rather than as program revenues.

2. Property Taxes
Since the passage of Proposition 13, beginning with fiscal year 1979, general property taxes paid by property owners are based on a flat 1% rate applied either to the 1975 to 1976 full value of the property, or on 1% of the sales price of the property on sales transactions or construction value after the 1975 to 1976 valuation. Taxable values on properties (exclusive of increases related to sales and construction) are limited to increasing by a maximum of 2% per year. The levy and lien date on secured property taxes is January 1. Secured property taxes are due to Alameda County from property owners on November 1 and March 1 and become delinquent on December 10 and April 10, respectively, each year. The County of Alameda is responsible for assessing, collecting, and distributing property taxes in accordance with enabling state law, and remitting such amounts to the City.

3. Compensated Absences
City employees are granted vacation and sick leave in varying amounts. In the event of termination, an employee is paid for accumulated vacation days up to the equivalent of 50 days of vacation or twice the annual rate of accrual. Employees hired prior to November 1, 2014 are entitled to compensation for 60% of accumulated sick leave up to 120 days upon termination. Employees hired on or after November 1, 2014 are entitled to compensation for 30% of accumulated sick leave up to 120 days after 10 years of continuous services (5 years of continuous service for Police). The cost of accumulated vacation and sick leave is recorded in the Accrued Benefits Internal Service Fund. Compensated absences are paid, if matured, out of the Accrued Benefits Internal Service Fund.
51 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

4. Pensions
For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to pensions, and pension expense, information about the pension plans fiduciary net positions and additions to/deductions from the pension plans fiduciary net positions have been determined on the same basis as they are reported by the CalPERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value.

GASB 68 requires that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used:

EPOA
Retirement
Miscellaneous Safety Enhancement
Plan Plan Plan
Valuation Date (VD) June 30, 2020 June 30, 2020 June 30, 2020 Measurement Date (MD) June 30, 2021 June 30, 2021 June 30, 2022 June 30, 2020 to June 30, 2020 to June 30, 2021 to
June 30, 2021 June 30, 2021 June 30, 2022 Measurement Period (MP)

5. Proprietary Funds Operating and Nonoperating Revenues and Expenses Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the Sewer enterprise fund, and internal service funds are charges to customers for sales and services. The Sewer enterprise fund recognizes operating revenues based on monthly receipts from East Bay Municipal Utility District (the entity that performs the billing service for the City’s sanitary sewer charges). Revenues for services provided but not billed at the end of a fiscal period are not considered significant to the presentation of the financial statements and are not accrued.

Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.

NOTE 2 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
Deficit Fund Balance/Net Position
As of June 30, 2022, the Accrued Benefits internal service fund had a net position deficit of $215,529. The City plans to cure the deficit through future charges for services. 52 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 3 – CASH AND INVESTMENTS
A. Summary of Cash and Investments
Cash and investments as of June 30, 2022, are reported in the accompanying financial statements as follows:

Governmental Activities
Cash and investments 182,990,539 $
Restricted cash and investments 10,805,405
Business-Type Activities
Cash and investments 7,961,899
Fiduciary Funds
Cash and investments 9,375,813
Restricted cash and investments with fiscal agents 9,936,371 Total $ 221,070,027
Cash and investments as of June 30, 2022, consist of the following:

Cash on hand $ 1,950
Deposits with financial institutions 8,050,942
Investments 213,017,135
Total $ 221,070,027
B. Deposits
At June 30, 2022, the carrying amount of the City’s deposits was $8,050,942 and the bank balance was $9,058,459. The $1,007,517 difference represents outstanding checks and other reconciling items.

California Government Code requires California banks and savings and loan associations to secure a City’s deposits by pledging government securities with a value of 110% of a City’s deposits. California law also allows financial institutions to secure a City’s deposits by pledging first trust deed mortgage notes having a value of 150% of a City’s total deposits. The City Treasurer may waive the collateral requirement for deposits that are fully insured up to $250,000 by the FDIC. The collateral for deposits in federal and state chartered banks is held in safekeeping by an authorized Agent of Depository recognized by the State of California Department of Banking. The collateral for deposits with savings and loan associations is generally held in safekeeping by the Federal Home Loan Bank in San Francisco, California as an Agent of Depository. These securities are physically held in an undivided pool for all California public agency depositors. Under Government Code Section 53655, the placement of securities by a bank or savings and loan association with an Agent of Depository has the effect of perfecting the security interest in the name of the local governmental agency. Accordingly, all collateral held by California Agents of Depository is considered to be held for, and in the name of, the local governmental agency.
53 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 3 – CASH AND INVESTMENTS (Continued)
C. Investments

1. Investments Authorized by California Government Code/City Investment Policy Under provision of the City’s investment policy, and in accordance with the California Government Code, the following investments are authorized:
 Securities of the U.S. Government or its agencies
 Certificates of deposit placed with commercial banks and federal institutions (negotiable and non-negotiable)
 Medium-term corporate notes
 Passbook savings account demand deposits
 Money market mutual funds
 Government sponsored pools and/or mutual funds

2. Investments Authorized by Debt Agreements
The above investments do not address investment of debt proceeds held by a bond trustee.

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

3. Investments in State Investment Pool
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. LAIF is overseen by the Local Agency Investment Advisory Board, which consists of five members, in accordance with State statute. The State Treasurer’s Office audits the fund annually. The fair value of the position in the investment pool is the same as the value of the pool shares.

4. Public Agencies Post-Employment Trust
On May 1, 2018, the City Council adopted Resolution 18-45 approving the adoption of the Public Agencies Post-Employment Trust administered by Public Agency Retirement Services (PARS).

The Trust is an irrevocable trust and qualifies as an Internal Revenue Section 115 Trust. This Trust will assist the City in mitigating the CalPERS contribution rate volatility. Investments of funds held in Trust are governed by the Investment Guideline Document for the investment account and by the agreement for administrative services with PARS, rather than the general provisions of the California Government Code of the City’s Investment Policy. The City elected a discretionary investment approach which allows the City to maintain oversight of the investment management, control on target yield and the portfolio’s risk of tolerance, under the Moderately Conservative Index PLUS investment option. The assets in the Trust will eventually be used to fund pension plan obligations.

54 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 3 – CASH AND INVESTMENTS (Continued)

5. Investment Balances
Investments as of June 30, 2022, consist of the following:

Fair Value
Local Agency Investment Fund (LAIF) 81,416,278 $
Negotiable Certificates of Deposit 469,748
Government Agency Securities 7,609,000
Money Market Funds 113,585,737
Total Investments Authorized by CA Government Code/City Investment Policy 203,080,763 Investments Authorized by Debt Agreements
Money Market Funds 9,936,372
Total Investments Authorized by Debt Agreements 9,936,372 Total Investments $ 213,017,135
Investments Authorized by CA Government Code/City Investment Policy

6. Fair Value Measurement
Fair value is defined as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is established prioritizing the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:
 Level 1 - Inputs are quoted market prices (unadjusted) in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date.  Level 2 - Inputs other than quoted prices within Level 1 that are observable, either directly or indirectly such as quoted prices for similar assets or liabilities in active markets or inactive markets, or inputs other than quoted prices that are observable for the asset or liability.  Level 3 - Inputs are unobservable. Valuations for assets and liabilities are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer, or broker traded transactions.

Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities.

The City uses appropriate valuation techniques based on the available inputs to measure the fair value of its investments. When available, the City measures fair value using Level 1 inputs because they generally provide the most reliable evidence of fair value. Level 3 inputs are only used when Level 1 or Level 2 inputs are not available.
55 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 3 – CASH AND INVESTMENTS (Continued)
The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in different fair value measurement at the reporting date. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investments.

The City reported the following recurring fair value measurements as of June 30, 2022:

Fair Value
Measurement
Value Level 2
City Investments
Negotiable Certificates of Deposit 469,748 $ 469,748 $
Government Agency Securities 7,609,000 7,609,000
Money Market Funds 102,780,333 102,780,333
Total City Investments 110,859,081 110,859,081
Investments with Fiscal Agents
Money Market Funds 20,741,776 20,741,776
Total Investments with Fiscal Agents 20,741,776 20,741,776 Total Leveled Investments 131,600,857 131,600,857 $
Local Agency Investment Fund (LAIF) 81,416,278
Total Investments 213,017,135 $
Investment Type
Uncategorized

7. Custodial Credit Risk
The custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty to a transaction, a government will not be able to recover the value of investment or collateral securities that are in the possession of an outside party.

The City’s investment policy does not address custodial credit risk. As of June 30, 2022, none of the City’s deposits or investments were exposed to custodial credit risk.

8. Credit Risk
The City's investment policy limits investments in medium-term notes (MTN’s) to those rated "AA" or higher by a recognized rating service such as Standard and Poor's (S&P) or by Moody's.

As of June 30, 2022, the City’s investments in government obligations were rated Aaa by Moody’s.

Investments in money market funds, investments in certificates of deposit (CD) held with financial institutions, and California Local Agency Investment Fund investments, were unrated. 56 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 3 – CASH AND INVESTMENTS (Continued)

9. Concentration of Credit Risk
The City’s investment policy imposes restrictions on the percentage that the City can invest in certain types of investments. In accordance with GASB Statement No. 40 requirements, the City is exposed to concentration of credit risk whenever they have invested more than 5% of their total investments in any one issuer. As of June 30, 2022, the City did not invest more than 5% of their total investments in the one issuer.

Investments guaranteed by the U.S. government and investments in mutual funds and external investment pools are excluded from this requirement.

10. Interest Rate Risk
The City's investment policy limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates. The City's investment policy states that maturities cannot exceed five years without City Council approval. Investments with fiscal agents are subject to separate provisions as outlined in the related bond indentures. The City has elected to use the segmented time distribution method of disclosure for its interest rate risk.

As of June 30, 2022, the City had the following investments and maturities:
12 months 12 months to 36 months or
Fair Value or less 36 months more
City Investments
Local Agency Investment Fund (LAIF) $ 81,416,278 $ 81,416,278 $ - $ - Negotiable Certificates of Deposit 469,748 - 469,748 -
Government Agency Securities 7,609,000 3,960,840 - 3,648,160 Money Market Funds 102,780,333 102,780,333 - -
Total City Investments 192,275,359 188,157,451 469,748 3,648,160 Investments with Fiscal Agents
Guaranteed investment contracts - - - -
Money market funds 20,741,776 20,741,776 - -
Total Investments with Fiscal Agents 20,741,776 20,741,776 - - Total Investments $ 213,017,135 $ 208,899,227 $ 469,748 $ 3,648,160 Investment Maturities (in Months)
Investment Type
57 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 4 – INTERFUND ACTIVITIES
A. Transfers In/Out
Transfers are reported in the accompanying financial statements as of June 30, 2022, as follows:

Business-Type
Activities
General Capital
Improvements Nonmajor
General Capital Projects Governmental Sewer
Fund Fund Funds Fund Total
Governmental Activities
General Fund - $ $ - $ 1,540,323 $ 51,500 $ 1,591,823
Other Grants Special Revenue Fund - - 64,619 - 64,619
Property Based Improvement District
Special Revenue Fund 564,726 - - - 564,726
Nonmajor Governmental Funds 2,923,518 555,000 - 3,478,518 - Total $ 3,488,244 $ 555,000 $ 1,604,942 $ 51,500 $ 5,699,686 Transfers In
Governmental Activities
Transfers Out
The General Fund received $1,540,323 and $51,500 from the Nonmajor Governmental Funds and Sewer Fund, respectively. These funds were transferred to the General Fund for support of general operations and overhead costs with the exception of $1,297,229 which was transferred from the Measure F Nonmajor Governmental Fund to the General Fund for supporting the Child Development Special Revenue Fund.

The General Fund transferred $564,726 to the Property Based Improvement District Special Revenue Fund to help fund the Emeryville shuttle services and transferred $2,923,518 to various Nonmajor Governmental Funds, including $1,297,229 of Measure F sales tax funds transferred through the General Fund to the Child Development Special Revenue Fund to support early childhood education programs.

The General Capital Improvement Capital Projects Fund transferred $555,000 to the Parking Program Special Revenue Fund to support operation costs for the City’s parking program.

The Other Grants Special Revenue Fund received $64,619 from the Nonmajor Governmental Funds to purchase a bus for the Community Services programs.

B. Due To/From Other Funds
During the course of operations, transactions occur between funds to account for goods received or services rendered. These receivables and payables are classified as due from or due to other funds. In addition, when funds overdraw their share of pooled cash, the receivables and payables are also classified as due from or due to other funds. As of June 30, 2022, there were no due from or due to other funds balances.
58 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 5 – NOTES AND LOANS RECEIVABLE
The City engages in programs designed to encourage construction or improvement in low-to-moderate income housing or other projects. Under these programs, grants or loans are provided under favorable terms to homeowners or developers who agree to spend these funds in accordance with the City’s terms. Since the City does not expect to collect all of these loans in the near term, the loans have been offset by an allowance for uncollectible loans in the fund financial statements.

Notes and loans receivable are reported in the accompanying financial statements as of June 30, 2022, as follows:

Housing Assets Special Revenue Fund
First-Time Home Buyer Program $ 2,887,809
Ownership Housing Assistance 3,313,126
Homeowner's Association Assessment 50,961
Home Rehabilitation and Assistance 261,991
Bay Bridge Corporation (AIDS Housing) Deferred 579,602
Avalon Senior Housing, LP 3,068,766
Bakery Lofts 250,000
3706 San Pablo 3,034,392
Help Housing Loan Program 1,084,568
3600 San Pablo Ave-Evoy L.P. Predevelopment 1,544,137
Allowance on Uncollectible Loans (16,075,352)
Total Housing Assets -
Nonmajor Governmental Funds
First-Time Home Buyer Program 2,219,058
Home Rehabilitation and Assistance 141,306
Cal Home Loan Program 1,021,725
EAH Housing 3706 San Pablo 2,117,664
Allowance on Uncollectible Loans (5,499,753)
Total Nonmajor Governmental Funds -
Total Notes and Loans Receivables $ -
A. First-Time Homebuyer Program
The City’s First-Time Homebuyer Program offers down payment assistance to low and moderate income first-time homebuyers purchasing a home in the City of Emeryville. The deferred loans bear interest at a rate that is 75% of the interest rate on the first mortgage, or 5%, whichever is less. The deferred loans require no monthly payments, are not due until the property is sold, transferred or rented and are collateralized by second deeds of trust. The loans are forgiven if the buyer resides in the home for more than 30 years.
59 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 5 – NOTES AND LOANS RECEIVABLE (Continued)
B. Ownership Housing Assistance
The City’s Ownership Housing Assistance Program offers down payment assistance to very low and low-income homebuyers purchasing a below-market-rate unit in the City of Emeryville. The deferred loans bear interest at 5%, require no monthly payments, are not due until the property is sold or transferred, are completely forgiven after 30 years, and are collateralized by subordinate deeds of trust.

C. Homeowner’s Association Assessment
In February 2009, the City provided loans to owners of Below Market Rate (BMR) units and market rate units in the Oliver Lofts development. Loans to owners of market rate units are secured by trust deeds bear interest at 3.7% and are fully amortized over 20 years. Loans to BMR unit owners are partially or fully unsecured and may be deferred to meet debt-to-income ratio requirements. Deferred loans will be reassessed every five years and converted to amortized loans based on owners’ ability to make payments. The BMR loans bear interest at 3.7% and are due in 20 years, with the exception that the deferred loans bear interest at a simple interest rate.

Assessment Loans to owners of market rate units in Emery Bay Village are secured by trust deeds bear interest at 3% and are fully amortized over 15 years.

D. Home Rehabilitation and Assistance
The City administers a housing rehabilitation loan program using Housing Funds. Under these programs, individuals with incomes below a certain level are eligible to receive low interest 15-30-year loans, secured by deeds of trust, for rehabilitation work on their homes. The loan repayments may be amortized over the life of the loans, deferred or a combination of both.

E. Bay Bridge Corporation (AIDS Housing) Deferred
In May 1995, the City loaned $325,000 to a nonprofit public benefit corporation that used the funds to develop a six-unit rental housing project for low-income persons who are disabled because of being HIV positive or diagnosed with AIDS. The loan is secured by a second deed of trust on the project and bears annual interest rate at 3%. The loan principal and all accrued interest will be due and payable on the earliest of 40 years from the date of the loan, when the property is sold or refinanced or in the event of default on the loan agreement.

F. Avalon Senior Housing, LP
On December 4, 1998, the City loaned the developer of the Avalon Senior Housing Project $1,800,000 to cover development costs associated with the senior housing space of the project. The interest rate is 3% and secured by a deed of trust on the property. Payments of principal and interest are to be made from residual cash flow as defined in the promissory note with the full amount of outstanding principal and interest due the earliest of 55 years from the date of the note, when the property is sold or refinanced, or in the event of default on the loan agreement.
60 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 5 – NOTES AND LOANS RECEIVABLE (Continued)
G. Bakery Lofts
During the fiscal year ended June 30, 2001, the City loaned $250,000 to a developer to finance the development of eight affordable residential units in a 41-unit project with rental levels for moderateincome households. The loan is secured by a second deed of trust. The loan does not have a due date and is only obligated to be repaid to the City at 8% interest per annum in the event of a violation of the affordability agreement.

H. 3706 San Pablo
In June 2017, the City loaned the developer of the 3706 San Pablo Avenue Affordable Housing Project $2,637,248 to cover development costs associated with this project. Loan funds were provided by the City’s Affordable Housing Impact Fee Fund ($1,840,000) and Housing Assets Fund ($797,248).

During fiscal year 2017-18, the City loaned the developer an additional $1,862,752 from the Housing Assets Fund for a total of $4,500,000. The loan will accrue simple interest at the rate of 3% per annum from the date of disbursement. The borrower is required to make repayments of the loan equal to the city share of residual receipts commencing on May 1, 2019, and on May 1 of each calendar year thereafter through the end of the term. The loan is secured by a deed of trust and is due if the property is transferred or sold.

I. Help Housing Loan Program
The City’s Help Program offers down payment assistance to lower-income homebuyers purchasing a Below-Market-Rate home in the City of Emeryville. The deferred loans are provided at 3% simple interest rate, require no monthly payments, are not due until the properly is sold, transferred or rented or 30 years, whichever occurs first. The loans allow interest to be forgiven after 30 years and are collateralized by subordinate deeds of trust.

J. 3600 San Pablo Ave – Evoy L.P. Predevelopment
In June 2021, the City loaned the developer of certain real property at 3600 San Pablo Avenue to cover acquisition costs associated with the property for an affordable housing project up to $2,000,000. Loan funds were provided by the City’s Housing Assets Fund. The loan will accrue simple interest at the rate of 3% per annum from the date of disbursement, however, all payments are deferred until June 2026, with the option to defer further at the City’s discretion. The loan is secured by a deed of trust and is due if the property is transferred or sold. As of June 30, 2022, the developer had drawn down loan funds of $1,544,137.

K. Home Rehabilitation and Assistance
The Economic Development and Housing Department administers a Cal Home and housing rehabilitation loan program using Community Development Block Grant funds. Under this program, individuals with income below a certain level are eligible to receive low interest, 15-year loans, secured by deeds of trust, for rehabilitation work on their homes. The loan repayments may be amortized over the life of the loans, deferred or a combination of both.

61 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 5 – NOTES AND LOANS RECEIVABLE (Continued)
L. Cal Home Loan Program
The City’s Cal Home Program offers down payment assistance to lower-income homebuyers purchasing a home in the City of Emeryville. The deferred loans are provided at a 3% simple interest rate, require no monthly payments, are not due until the property is sold, transferred or rented or 30 years, whichever occurs first. The loans allow interest to be forgiven after 30 years and are collateralized by subordinate deeds of trust.

NOTE 6 – CAPITAL ASSETS
Governmental Activities capital asset activity as of June 30, 2022, is as follows:

Balance at Balance at
July 1, 2021 Additions Retirements Transfers June 30, 2022 Governmental Activities
Capital assets not being depreciated:

Land $ 29,297,979 $ - $ - $ 29,297,979 - $
Construction in progress 32,376,716 5,538,861 (36,109) (3,856,116) 34,023,352 Total Capital Assets Not
Being Depreciated 61,674,695 5,538,861 (36,109) (3,856,116) 63,321,331 Capital assets being depreciated:

Park and other improvements 23,954,418 - - 23,954,418 - Buildings and improvements 48,616,998 - 3,856,116 - 52,473,114 Furnishings, vehicles and equipment 7,682,540 13,185 (326,162) 7,369,563 - Marina improvements 8,674,685 - - 8,674,685 -
Grading, curbs, gutters, sidewalks
and driveway approaches 38,298,078 - - 38,298,078 -
Total Capital Assets
Being Depreciated 127,226,719 13,185 (326,162) 3,856,116 130,769,858 Less accumulated depreciation for:

Park and other improvements 12,348,138 1,006,151 - 13,354,289 - Buildings and improvements 24,543,086 1,068,678 - 25,611,764 - Furnishings, vehicles and equipment 6,506,783 404,850 304,366 6,607,267 - Marina improvements 7,238,707 129 - 7,238,836 -
Grading, curbs, gutters, sidewalks
and driveway approaches 28,056,832 639,682 - 28,696,514 - Total Accumulated Depreciation 78,693,546 3,119,490 304,366 81,508,670 - Net Capital Assets
Being Depreciated 48,533,173 (3,106,305) (21,796) 3,856,116 49,261,188 Governmental Activity Capital
Assets, Net $ 110,207,868 $ 2,432,556 $ (57,905) $ 112,582,519 - $

62 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 6 – CAPITAL ASSETS (Continued)
Depreciation expense was charged to functions and programs based on their usage of the related assets. The amounts allocated to each function or programs are as follows:

Governmental Activities:

Information technology $ 38,606
General government-non-departmental operations 76,390
Police 300,063
Fire 97,639
Child development 42,557
Youth services 29,445
Adult services 72,510
Public works 2,462,280
Total Governmental Activities Depreciation Expense $ 3,119,490 Business-Type Activities capital asset activity as of June 30, 2022, is as follows:

Balance at Balance at
June 30, 2021 Additions Retirements June 30, 2022
Business-Type Activities
Capital Assets, not being depreciated
Construction in progress $ 5,130 $ 462,954 $ 468,084 - $ Total Capital Assets Not Being
Depreciated: 5,130 462,954 - 468,084
Capital assets being depreciated:

Buildings and improvements 487,482 - - 487,482
Automobile and equipment 5,396 - - 5,396
Sewer improvements 9,943,529 - - 9,943,529
Total Capital Assets
Being Depreciated 10,436,407 - - 10,436,407
Less accumulated depreciation for:

Buildings and improvements 136,496 9,749 - 146,245
Automobile and equipment 5,396 - - 5,396
Sewer improvements 2,672,850 181,264 - 2,854,114 -
Total Accumulated Depreciation 2,814,742 191,013 - 3,005,755 Net Capital Assets
Being Depreciated 7,621,665 (191,013) - 7,430,652
Business-Type Activity Capital
Assets, Net $ 7,626,795 $ 271,941 $ 7,898,736 - $
Depreciation expense of $191,013 was charged to the Sewer Fund for the year ended June 30, 2022. 63 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 7 – LONG-TERM LIABILITIES
The following is a summary of the changes in long-term debt for the fiscal year ended June 30, 2022:

Balance at Balance at Current
June 30, 2021 Retirements June 30, 2022 Portion
Governmental Activities
Private Placement Bonds:

Public Financing Authority, Lease
Revenue Bonds, 2013 Series A $ 2,292,600 $ 299,200 $ 1,993,400 $ 306,900 Total Bonds 2,292,600 299,200 1,993,400 306,900
Total Governmental Activities
Long-Term Liabilities $ 2,292,600 $ 299,200 $ 1,993,400 $ 306,900 A. Public Financing Authority Lease Revenue Bonds, 2013 Series A The Emeryville Public Financing Authority (the Authority) issued $4,390,300 in Lease Revenue Bonds, 2013 Series A, with an effective interest rate of 3.02% per annum. The proceeds were used to refund $4,745,000 of outstanding 1998 Series A Lease Revenue Bonds. The outstanding balance of this private placement bonds contains a provision in which the Purchaser of the bonds may terminate the agreement if any event occurs or becomes known that has a material adverse effect on the financial condition of the City or the ability of the City to perform under the Agreement.

The annual requirements to amortize the outstanding bond indebtedness as of June 30, 2022, including interest, are as follows:

Principal Interest
2023 $ 306,900 $ 60,201
2024 319,200 50,932
2025 325,900 41,292
2026 336,900 31,450
2027 347,400 21,276
2028 357,100 10,784
$ 1,993,400 $ 215,935
Lease Revenue Bonds
2013 Series A
B. Compensated Absences
In governmental activities, the liability for employee compensated absences are reported in the City’s Accrued Benefits internal service fund and will be liquidated by that fund. The following is a summary of the changes in compensated absences for the fiscal year ended June 30, 2022:

Balance at Balance at Current
June 30, 2021 Additions Reductions June 30, 2022 Portion Compensated absences: $ 3,080,607 $ 142,417 $ 107,138 $ 3,115,886 $ 1,651,891 64 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 8 – DEBT WITHOUT CITY COMMITMENT
Public Financing Authority 1999 Revenue Bonds
On July 21, 1999, the Public Financing Authority issued 1999 Revenue Bonds in the amount of $14,420,000 to refinance three previously issued bonds: The West Emeryville Assessment District Improvement Bonds, the Bay Street-Shellmound Street Extension Assessment District Limited Obligation Bonds, and the East Bay Bridge Assessment District Limited Obligation Improvement Bonds, No. 1993-1. In addition, proceeds of the 1999 Revenue Bonds have been used to finance acquisition and construction of certain capital improvements in the City. The City is in no way liable for repayment of the bonds but acts as agent for the property owners in collecting the assessments, forwarding the collections to bondholders, and initiating foreclosure proceedings, if appropriate.

NOTE 9 – DEFINED BENEFIT PENSION PLANS
A. Summary of Liability Amounts, Deferred Outflows and Deferred Inflows A summary of the City’s net pension liabilities and deferred amounts arising from various plans are listed below.

Plan
Net Pension
Liabilities
Deferred
Outflows
Deferred
Inflows
Pension
Expense
CalPERS Miscellaneous Rate Plan 7,973,731 $ 3,880,089 $ 8,583,171 $ 1,893,366 $ CalPERS Safety Rate Plan 19,631,975 7,970,926 14,375,509 1,984,265 Emeryville Police Officers’ Association
Retirement Enhancement Plan (EPOA) 496,118 626,840 218,748 (32,007) $ 12,347,133 28,232,546 $ 23,177,428 $ 3,845,624 $
Pension-related liabilities are primarily liquidated by the General Fund and other funds that have recorded the liabilities.

B. Miscellaneous and Safety Pension Plans
Plan Descriptions
All qualified permanent and probationary employees are eligible to participate in Management of Emeryville Services Authority’s Miscellaneous Plan, or the City of Emeryville’s Safety Police or Safety Fire Plans (the Plans), cost-sharing multiple-employer defined benefit pension plan administered by the California Public Employees’ Retirement System (CalPERS). Benefit provisions under the Plans are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

65 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
Benefits Provided
The Plans provide 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 eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. Plan members are provided one of the following death benefit: the Basic Death Benefit, the 1959 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.

On July 1, 2012, the City’s Safety Fire plan became inactive due to the transfer of all active employees to the Alameda County Fire Department.

Classic* Second Tier* PEPRA
Hire date
Prior to January 1,
2012
January 1, 2012 but
prior to January 1,
2013
January 1, 2013 and
after
Benefit formula 2% @ 55 2% @ 60 2% @ 62
Benefit vesting schedule 5 years service 5 years service 5 years service Benefit payments Monthly for life Monthly for life Monthly for life Retirement age Minimum 50 yrs Minimum 50 yrs Minimum 52 yrs Monthly benefits, as a % of eligible compensation 1.426% - 2.418% 1.092% - 2.418% 1.000% - 2.500% Required employee contribution rates 7.000% 7.000% 7.250% Required normal employer contribution rates 11.60% 9.30% 7.730% Required employer payment of unfunded liability $ 933,416 $ 12,830 $ 9,414 *Closed to new entrants
Police Classic* Police Tier II* Police PEPRA Fire**
Hire date
Prior to June 16,
2012
June 16, 2012 but
prior to January 1,
2013
January 1, 2013 and
after N/A
Benefit formula 3% @ 55 3% @ 55 2.7% @ 57 3% @ 50
Benefit vesting schedule 5 years service 5 years service 5 years service 5 years service Benefit payments Monthly for life Monthly for life Monthly for life Monthly for life Retirement age Minimum 50 yrs Minimum 50 yrs Minimum 50 yrs Minimum 50 yrs Monthly benefits, as a % of eligible compensation 2.400% - 3.000% 2.400% - 3.000% 2.000% - 2.700% 3.000% Required employee contribution rates 9.000% 9.000% 13.750% N/A Required normal employer contribution rates 23.62% 22.47% 13.98% N/A Required employer payment of unfunded liability $ 1,099,281 $ 4,561 $ 7,079 $ 1,651,665 *Closed to new entrants
Miscellaneous Plan
Safety Plan
** There were no active employees in this plan; therefore no employee contributions were made during the measurement period. 66 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) 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 all Miscellaneous Plans are determined annually on an actuarial basis as of June 30. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

For the year ended June 30, 2022, the contributions recognized as a reduction to the net pension liability for the Plans was $1,783,332 for Miscellaneous and $3,613,298 for Safety, respectively.

Actuarial Methods and Assumptions Used to Determine Total Pension Liabilities The total pension liabilities in the June 30, 2020 actuarial valuations were determined using the following actuarial assumptions:

Valuation Date June 30, 2020
Measurement Date June 30, 2021
Actuarial Cost Method Entry Age Normal Cost Method
Discount Rate 7.15% depending on age, service and
employment
Inflation 2.50%
Salary Increases Varies by Entry Age and Service
Mortality Rate
Table*
Derived using CalPERS’ Membership Data for
all Funds
Post Retirement
Benefit Increase
Contract COLA up to 2.50% until Purchasing
Power Protection Allowance Floor of
Purchasing Power applies, 2.50% thereafter
Actuarial Assumptions
*
The mortality table used was developed based on CalPERS’ specific data. The table includes 15 years of mortality improvements using Society of Actuaries Scale 90% of scale MP 2016. For more details on this table, please refer to the December 2017 experience study report on the CalPERS website.

Discount Rate
The discount rate used to measure the total pension liability was 7.15%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members.

Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability. 67 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
Long-term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a buildingblock method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, staff took into account both short-term and longterm market return expectations as well as the expected pension fund (PERF C) cash flows. Taking into account historical returns of all the Public Employees Retirement Funds’ asset classes (which includes the agent plan and two cost-sharing plans or PERF A, B, and C funds), expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11+ years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each PERF C 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 long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses.

The expected real rates of return by asset class are as follows:

Assumed Asset
Allocation
Real Return Years
1 - 10 (b)
Real Return Years
11+ (c)
Public Equity 50.0% 4.80% 5.98%
Fixed Income 28.0% 1.00% 2.62%
Inflation Assets 0.0% 0.77% 1.81%
Private Equity 8.0% 6.30% 7.23%
Real Assets 13.0% 3.75% 4.93%
Liquidity 1.0% 0.00% -0.92%
Total 100.0%
(a) In the CalPERS ACFR, Fixed Income is included in Global Debt Securities; 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 2.0% used for this period. (c) An expected inflation of 2.92% used for this period.

Asset Class (a)

68 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
Pension Liabilities, Pension Expense and Deferred Outflows and Deferred Inflows of Resources Related to Pensions
As of June 30, 2022, the City reported net pension liabilities for its proportionate shares of the net pension liability of each Plan as follows:

Miscellaneous Plan $ 7,973,731
Safety Plan 19,631,975
Total Cost-Sharing Plans Net Pension Liability $ 27,605,706 Proportionate Share of Net Pension Liabilities
The City’s net pension liability for each of 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, 2021, and the total pension liability for each Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2020 rolled forward to June 30, 2021 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 City’s Miscellaneous Rate Plan as of June 30, 2020 and 2021 was as follows:

Miscellaneous
Plan
Proportion - June 30, 2020 0.36372%
Proportion - June 30, 2021 0.41993%
Change - Increase/(Decrease) 0.05621%
The City’s proportionate share of the net pension liability for each of the City’s Safety Rate Plan as of June 30, 2020 and 2021 was as follows:

Plan
Proportion - June 30, 2020 0.49710%
Proportion - June 30, 2021 0.55940%
Change - Increase/(Decrease) 0.06230%
For the year ended June 30, 2022, the City recognized total pension expense of $1,893,366 for the Miscellaneous Plan and $1,984,265 for the Safety Plan, respectively. 69 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
At June 30, 2022, the City reported deferred outflows and deferred inflows of resources related to the Miscellaneous Plan as follows:

Deferred Deferred
Outflows of Inflows of
Resources Resources
Pension contributions subsequent to measurement date $ 1,783,332 $ - Changes in assumptions - -
Differences between expected and actual experiences 894,168 - Net difference between projected and actual earnings of pension plan investments - 6,960,646
Difference between employer contribution and the plans
proportionate share of aggregate employer contributions - 1,622,525 Adjustment due to differences in proportions 1,202,589 - Total Miscellaneous Plan $ 3,880,089 $ 8,583,171
At June 30, 2022, the City reported deferred outflows and deferred inflows of resources related to the Safety Plan as follows:

Deferred Deferred
Outflows of Inflows of
Resources Resources
Pension contributions subsequent to measurement date $ 3,613,298 $ - Changes in assumptions - -
Differences between expected and actual experiences 3,354,106 - Net difference between projected and actual earnings of pension plan investments - 11,684,799
Difference between employer contribution and the plans
proportionate share of aggregate employer contributions - 2,690,710 Adjustment due to differences in proportions 1,003,522 - Total Safety Plan $ 14,375,509 7,970,926 $
70 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
$1,783,332 for the Miscellaneous Plan and $3,613,298 for the Safety Plan, reported as deferred outflows of resources related to contributions subsequent to the measurement date but before the City’s fiscal year end, will be recognized as a reduction of the net pension liability in the year ended June 30, 2023. Other amounts reported as deferred outflows or deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Year Ended
June 30,
Miscellaneous
Plan Safety Plan Total
2023 (1,402,792) $ $ (1,993,005) $ (3,395,797)
2024 (1,525,409) (2,207,389) (3,732,798)
2025 (1,634,648) (2,601,994) (4,236,642)
2026 (1,923,565) (3,215,493) (5,139,058)
Total (6,486,414) $ $ (10,017,881) $ (16,504,295)
Deferred Outflows/(Inflows) of Resources
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 each Plan, calculated using the discount rate for each Plan, as well as what the City’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1% point lower or 1% point higher than the current rate:

Discount Rate Current Discount Rate
- 1% Discount Rate + 1%
Plan (6.15%) (7.15%) (8.15%)
Miscellaneous Plan $ 17,558,284 $ 7,973,731 $ 50,317
Safety Plan 36,675,356 19,631,975 5,632,942
Total $ 54,233,640 $ 27,605,706 $ 5,683,259
Sensitivity of the Proportionate Share of Net Pension Liabilities Pension Plan Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports.
71 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
C. Emeryville Police Officers’ Association Retirement Enhancement Plan Plan Description, Benefits Provided and Employees Covered The Emeryville Police Officers’ Association (EPOA) Retirement Enhancement Plan is an agent multiple-employer defined benefit pension plan administered by the Public Agency Retirement System (PARS). The plan does not issue separately audited financial statements.

The plan provides supplemental retirement benefits in the form of monthly annuities to retirees and survivors of retirees in the plan.

The membership as of June 30, 2020, included 20 active participants and 5 retirees. The plan is closed to new entrants.

Contributions
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) 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. The total plan contributions are determined by an independent pension actuary using information furnished by the City and by PARS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. For the measurement period ended June 30, 2022 (the measurement date), the employer’s contribution rate is 4.74% percent of annual payroll, and no contributions were made by the employees. Employer contribution rates may change if plan contracts are amended. It is the responsibility of the employer to make necessary accounting adjustments to reflect the impact due to any Employer Paid Member Contributions or situations where members are paying a portion of the employer contribution.
72 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
Actuarial Methods and Assumptions Used to Determine Total Pension Liability The June 30, 2022 total pension liability was based on the following actuarial methods and assumptions:

Actuarial Cost Method Entry Age Normal
Discount Rate 6.50%
Inflation 2.50%
Salary Increases Varies by Entry Age and Service
Investment Rate of Return 6.50%
Cost of Living Adjustments 2.00%
Mortality Pre-Retirement: CalPERS Public Agency Safety
Mortality Rates after June 30, 2017.

Post-Retirement: CalPERS Healthy Retiree
Public Agency Safety Mortality Rates after June
30, 2017.

Retirement CalPERS Public Agency Police 3% at Age 50
Retirement rates after June 30, 2017.

Maximum Benefits and
Salary
Salary limits under 401(a)(17) apply. Limit is
assumed to increase 2.75% a year.

Beneficiaries 80% of participants are assumed to have an eligible spouse or domestic partner, with males
three years older than their female partners.

Actuarial Assumptions
Discount Rate
The plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the discount rate for calculating the total pension liability is equal to the long-term expected rate of return.

73 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
The best-estimate range for the long-term expected rate of return is determined by adding expected inflation to expected long-term real returns and reflecting expected volatility and correlation. The capital market assumptions are per actuarial investment consulting practice as of June 30, 2022.

Asset Class Index
Target
Allocation
Long-Term
Expected
Arithmetic
Real Rate of
Return
Long-Term
Expected
Geometric
Real Rate of
Return
US Cash BAML 3-Mon Tbill 6.23% 0.21% 0.20%
US Core Fixed Income Bloomberg Barclays Aggregate 46.31% 1.95% 1.84% US Broad Equity Market Russell 3000 37.82% 5.70% 4.10%
Foreign Developed Equity MSCI EAFE NR 4.76% 6.99% 5.25% Emerging Markets Equity MSCI EM NR 3.11% 9.44% 5.97%
US REITs FTSE NAREIT Equity REIT 1.77% 6.27% 4.11%
Assumed Inflation - Mean 2.35% 2.35%
Assumed Inflation - Standard Deviation 1.25% 1.25%
Portfolio Real Mean Return 3.81% 3.41%
Portfolio Nominal Mean Return 6.16% 5.85%
Portfolio Standard Deviation 8.26%
Long-Term Expected Rate of Return 6.50%
A blended discount rate is generally required to be used to measure the Total Pension Liability (the Actuarial Accrued Liability calculated using the Individual Entry Age Normal Cost Method). The longterm expected return on plan investments may be used to discount liabilities to the extent that the plan’s Fiduciary Net Position (fair market value of assets) is projected to cover benefit payments and administrative expenses. A 20-year high quality (AA/Aa or higher) municipal bond rate must be used for periods where the Fiduciary Net Position is not projected to cover benefit payments and administrative expenses. Determining the discount rate will often require that the actuary perform complex projects of future benefit payments and asset values. Alternative evaluations of projected solvency are allowed, if such evaluation can reliability be made.

74 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
Pension Plan Fiduciary Net Position
The following table shows the changes in net pension liability recognized over the measurement period.

Total Pension
Liability
(a)
Plan Fiduciary Net
Position
(b)
Net Pension
Liability/(Assets)
(c)=(a)-(b)
Balance as of June 30, 2021 2,370,450 $ 2,089,208 $ 281,242 $ Changes for the year:

Service Cost 49,935 - 49,935
Interest 154,925 - 154,925
Benefit Payments (75,041) (75,041) -
Employer Contributions - 152,560 (152,560)
Net Investment Income - (285,058) 285,058
Administrative Expenses - (8,240) 8,240
Balance as of June 30, 2022 $ 2,500,269 $ 1,873,429 $ 626,840 Increase (Decrease)
Recognition of Gains and Losses
Under GASB 68, gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time.

The first amortized amounts are recognized in pension expense for the year the gain or loss occurs.

The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions and are to be recognized in future pension expense.

The amortization period differs depending on the source of the gain or loss:

Difference between projected and actual
earnings
5 year straight-line amortization
All other amounts Straight-line amortization over the
average expected remaining service
lives of all active and inactive
members.
75 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
As of the start of the measurement period, July 1, 2021, the net pension liability was $281,242. For the measurement period ending June 30, 2022, the City of Emeryville incurred a pension expense of ($32,007) for the Plan. As of the measurement date, June 30, 2022, the net pension liability was $626,840.

As of June 30, 2022, the City of Emeryville has deferred outflows and deferred inflows of resources related to this pension plan as follows:

Deferred Deferred
Outflows of Inflows of
Resources Resources
Difference between expected and actual experience $ 248,132 $ 117,080 Net difference between projected and actual earnings of pension plan investments 202,322 -
Changes of Assumptions 45,664 101,668
Total $ 496,118 $ 218,748
Amounts reported as deferred outflows or deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Year Ended
June 30,
2023 42,902 $
2024 42,799
2025 43,287
2026 112,182
2027 36,200
Total 277,370 $
Deferred Outflows
(Inflows) of
Resources
Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the City of Emeryville, calculated using the discount rate of 6.50%, as well as what the Plan’s net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (5.50%) or 1 percentage point higher (7.50%) than the current rate.
76 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 9 – DEFINED BENEFIT PENSION PLANS (Continued)
Discount Rate Current Discount Rate
- 1% Discount Rate + 1%
(5.50%) (6.50%) (7.50%)
Total Pension Liability $ 2,907,147 $ 2,500,269 $ 2,170,829 Fiduciary Net Position 1,873,429 1,873,429 1,873,429
Net Pension Liability (Asset) 1,033,718 $ $ 626,840 $ 297,400 NOTE 10 – DEFERRED COMPENSATION PLAN
City employees may defer a portion of their compensation under a City sponsored Deferred Compensation Plan created in accordance with Internal Revenue Code Section 457 and 401(a). 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 certain hardships as defined by the plan. Effective July 1, 2019, the City contributes $25 per month to the 457 deferred compensation accounts of eligible employees as a match.

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 plan’s Trust administrator is Mission Square.

As established by the plan, any City employee can contribute to the plan, but only certain bargaining units are eligible for a match including Emeryville Association of Confidential, Administrative, Managerial, and Professional Employees (CAMP). During fiscal year 2022, the City contributed $5,594 to the Plan.

NOTE 11 – POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (OPEB) Plan Description
The City has established a Retiree Healthcare Plan (HC Plan), an agent multiple-employer defined benefit retiree healthcare plan. The City has established a qualified OPEB trust with the California Government Voluntary Employee Beneficiary Association (VEBA) to perform post-retirement medical reimbursement.

Currently, the City funds retiree healthcare benefits on a pay-as-you-go basis and sets aside additional amounts in the trust as they become available.

Employees Covered
As of the June 30, 2021 measurement date, the following current and former employees were covered by the benefit terms under the HC Plan:

Active employees 132
Inactive employees or beneficiaries currently receiving benefits 100 Totals 232
77 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 11 – POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (OPEB) (Continued) Contributions
The HC Plan and its contribution requirements are established by Memoranda of Understanding with the applicable employee bargaining units and may be amended by agreements between the City and the bargaining units. The annual contribution is based on the actuarially determined contribution. For the measurement date ended June 30, 2021, the City’s contributions were $388,037 in total payments, which were recognized as a reduction to the OPEB liability. OPEB related liabilities are primarily liquidated by the General Fund and other funds that have recorded the liabilities.

Net OPEB Liability
The City’s net OPEB liability was measured as of June 30, 2021 and the total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation dated June 30, 2021 that was used to determine the June 30, 2022 total OPEB liability, based on the following actuarial methods and assumptions.

Valuation date June 30, 2020
Measurement date June 30, 2021
Actuarial funding method
Asset Valuation Method
Actuarial assumptions:

Discount rate 2.58%
Inflation 2.75%
Payroll growth 3.0%
Salary increases
Long-term expected return on assets 4.25%
Mortality Rate (1)
Pre-Retirement Turnover (2)
Entry age normal cost, level percent of pay
Market value of assets
Derived using CalPERS' 1997-2015 Experience Study
Derived using CalPERS' 1997-2015 Experience Study

3.00% per year, used only to allocate cost of benefits
between service years
Notes:
(1) Pre-retirement mortality probability based on 2017 CalPERS 1997 to 2015 Experience Study covering CalPERS participants. Post-retirement mortality probability based on CalPERS Experience Study 2007 to 2011 covering participants in CalPERS.
(2) The pre-retirement turnover information was developed based on CalPERS’ specific data. For more details, please refer to the 1997 to 2015 Experience Study Report. The Experience Study Report may be accessed on the CalPERS website www.calpers.ca.gov under Forms and Publications. 78 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 11 – POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (OPEB) (Continued) The long-term expected rate of return on OPEB plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:

Asset Class
MetLife Allocation
California Government
VEBA
Expected real rate of
return
Domestic Fixed Income 62.00% 1.47%
Foreign Fixed Income 28.00% 1.63%
Equities 2.00% 4.82%
REITs 3.00% 3.04%
Cash 5.00% 0.06%
Total 100.00%
Assumed long-term rate of inflation 2.75%
Expected long-term net rate of return 4.25%
Discount Rate
The discount rate used to measure the total OPEB liability was 2.58%. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability.

Changes in the OPEB Liability
Total OPEB
Liability
Plan Fiduciary Net
Position
Net OPEB Liability
(Asset)
Balance at June 30, 2021 (2020 Measurement Date) 9,633,758 $ 2,355,719 $ 7,278,039 $ Change in the year:

Service Cost 484,899 - 484,899
Interest on total OPEB liability 253,206 - 253,206
Changes in assumptions (27,318) - (27,318)
Contribution-employer - 388,037 (388,037)
Net investment income - 50,654 (50,654)
Administrative Expenses - (29,879) 29,879
Benefit payments, including refunds of employee
contributions (455,517) (455,517) -
Net changes 255,270 (46,705) 301,975
Balance at June 30, 2022 (2021 Measurement Date) $ 9,889,028 $ 2,309,014 $ 7,580,014 Increase (Decrease)
79 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 11 – POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (OPEB) (Continued) Changes in Assumptions
In 2021, the discount rate was increased from 2.56% to 2.58%.

Sensitivity of the Net OPEB Liability to Changes in the Discount Rate The following presents the net OPEB liability of the City if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2021:
1% Decrease
(1.58% )
Current Discount
Rate (2.58% )
1% Increase
(3.58% )
Net OPEB Liability 9,105,432 $ $ 7,580,014 $ 6,351,878
Sensitivity of the Net OPEB Liability to Changes in the Health Care Cost Trend Rates The following presents the net OPEB liability of the City if it were calculated using health care cost trend rates that are one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2021:
1% Decrease
Current Healthcare
Cost Trend Rates 1% Increase
Net OPEB Liability 6,438,848 $ 7,580,014 $ $ 9,144,146
OPEB Plan Fiduciary Net Position
VEBA does not issue financial statements, however MetLife has financial reports. VEBA contracts with The Brentwood Companies to oversee the transactions. The Brentwood Companies are located at 5999 B Ridge View Street, Camarillo, California 93012.

OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the fiscal year ended June 30, 2022, the City recognized OPEB expense of $956,139. As of the fiscal year ended June 30, 2022, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Deferred Outflows of
Resources
Deferred Inflows of
Resources
OPEB contributions subsequent to measurement date $ 370,788 $ - Changes of assumptions 976,084 23,115
Differences between expected and actual experience - 176,290 Net difference between projected and actual earnings on OPEB plan investments 78,589 -
Total $ 1,425,461 $ 199,405
80 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 11 – POST-EMPLOYMENT BENEFITS OTHER THAN PENSIONS (OPEB) (Continued) The $370,788 reported as deferred outflows of resources related to contributions subsequent to the June 30, 2021 measurement date will be recognized as a reduction of the net OPEB liability during the fiscal year ending June 30, 2023. Other amounts reported as deferred outflows or deferred inflows of resources related to OPEB will be recognized as OPEB expense as follows:

Year Ended
June 30,
Deferred Outflows
(Inflows) of
Resources
2023 286,304 $
2024 276,019
2025 231,322
2026 60,025
2027 3,698
Thereafter (2,100)
Total $ 855,268
NOTE 12 – RISK MANAGEMENT
The City manages risk by participating in the public entity risk pools described below and by retaining certain risks.

Public entity risk pools are formally organized and separate entities established under the Joint Exercise of Powers Act of the State of California. As separate legal entities, these entities exercise full powers and authorities within the scope of the related Joint Powers Agreements, including the preparation of annual budgets, accountability for all funds, the power to make and execute contracts and the right to sue and be sued.

Each joint venture is governed by a board consisting of representatives from member municipalities. Each board controls the operations of the respective joint venture, including selection of management and approval of operating budgets, independent of any influence by member municipalities beyond their representation on that board. Obligations and liabilities of these joint ventures are not the City’s responsibility.

A. Self-Insurance
The City is self-insured for workers’ compensation, general liability, dental, and unemployment claims.

Workers’ compensation claims are self-insured up to $350,000 per occurrence. The operating funds are charged premiums by the City Workers’ Compensation Self-Insurance Fund, which is accounted for as an internal service fund. The accrued liability for estimated claims represents an estimate of ultimate loss on claims, including an estimate of incurred but not reported losses.

General liability claims are self-insured up to $10,000. Outstanding claims are evaluated by the City Attorney for exposure and any anticipated liability is recorded in the Litigation Fund, which is accounted for as an internal service fund.
81 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 12 – RISK MANAGEMENT (Continued)
Dental claims are self-insured up to $1,500 per covered person per year, which is the benefit limit. The operating funds are charged premiums by the Dental Fund, which is accounted for as an internal service fund.

Unemployment claims are fully self-insured by the City. The operating funds are charged premiums by the Unemployment Fund, which is accounted for as an internal service fund.

B. Risk Pools
The City participates in various insurance coverage pool or to obtain insurance coverage in excess of the City’s self-insured limits.

Bay Cities Joint Powers Insurance Authority (BCJPIA) covers general liability claims in an amount up to $1,000,000. The City has a deductible or uninsured liability of up to $10,000 per claim. Once the City’s deductible is met, BCJPIA becomes responsible for payment of all claims up to the $1,000,000 limit. In addition, the City, through the BCJPIA, has excess coverage with California Affiliated Risk Management Authorities (CARMA) for claims from $1,000,000 to $28,500,000.

The City also participates in the BCJPIA Workers’ Compensation Group. BCJPIA covers workers’ compensation claims in excess of $350,000 up to $1,000,000 (the City has a deductible or uninsured liability of up to $350,000 per claim). BCJPIA Workers’ Compensation Group participates in the Local Agency Workers’ Compensation Excess Insurance Joint Powers Authority (LAWCX). LAWCX covers workers’ compensation claims from $1,000,000 to the statutory limit.

Employment practices liability coverage is also obtained through participation in BCJPIA. The coverage is provided by the Employment Risk Management Authority (ERMA). ERMA provides coverage up to $1,000,000 per occurrence, for claims in excess of the City’s deductible of $50,000.

The City’s contributions with each risk pool is based upon its experience, plus a ratio of the City’s payroll and other related factors to the total payrolls and other related factors of all entities participating in the same layer of each program, for each program year. 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.

Financial statements for BCJPIA and LAWCX may be obtained from Bickmore & Associates, 1750 Creekside Oaks Drive, Suite 200, Sacramento, California 95833.

C. Liability for Uninsured Claims
The City provides for the uninsured portion of claims and judgments in the Workers’ Compensation Self-Insurance and Litigation Internal Service Funds. Claims and judgments, including a provision for claims incurred but not reported, are recorded when a loss is deemed probable of assertion and the amount of the loss is reasonably determinable. As discussed above, the City has coverage for such claims, but it has retained the risk for the deductible or uninsured portion of these claims. Settlements have not exceeded coverage for each of the past three fiscal years.

82 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 12 – RISK MANAGEMENT (Continued)
The City’s liability for uninsured claims is limited to workers’ compensation and general liability claims, as discussed above, and was estimated by management based on prior years’ claims experience as of June 30, 2022:

Workers' General
Compensation Liability Total Total
Claims Cliams 2022 2021
Beginning balance $ 3,338,000 $ 58,731 $ 3,396,731 $ 3,563,802 Liability for current fiscal year claims 955,207 42,131 997,338 995,501 Change in liability for prior fiscal year claims and
claims incurred but not reported (IBNR) (530,748) 29,118 (501,630) (402,969) Claims paid (804,459) (79,485) (883,944) (759,603)
Ending balance $ 2,958,000 $ 50,495 $ 3,008,495 $ 3,396,731 Current portion $ 688,688 $ 20,198 $ 708,886 $ 741,370
NOTE 13 – COMMITMENTS AND CONTINGENCIES
General
The City is subject to litigation arising in the normal course of business. In the opinion of the City Attorney, there is pending litigations that are reasonably possible to have a material adverse effect on the financial position of the City.

The City participates in several federal and state grant programs. These programs have been audited by the City’s independent accountants in accordance with the provisions of the federal Single Audit Act and applicable state requirements, where required. No cost disallowances have been proposed as a result of these audits; however, these programs are still subject to further examination by the grantors, and the amount, if any, of expenditures, which may be disallowed by the granting agencies, cannot be determined at this time. The City expects such amounts, if any, to be immaterial. 83 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 14 – SUCCESSOR AGENCY TRUST FOR ASSETS OF THE FORMER REDEVELOPMENT AGENCY
As of January 31, 2012, the Emeryville Redevelopment Agency has been dissolved and the City of Emeryville as the Successor Agency is responsible for winding down the remaining activities of the dissolved Redevelopment Agency.

The City of Emeryville as Successor Agency to the former Emeryville Redevelopment Agency was created January 17, 2012, as outlined in Assembly Bill 1X 26 (the Bill) which provides the requirements for the dissolution of all redevelopment agencies in the State of California. This action impacted the reporting entity of the City of Emeryville that previously had reported a redevelopment agency within the reporting entity of the City as a fiduciary fund.

After enactment of the law, which occurred on June 28, 2011, redevelopment agencies in the State of California cannot enter into new projects, obligations or commitments.

Subject to the control of an oversight board, remaining assets can only be used to pay enforceable obligations in existence at the date of dissolution (including the completion of any unfinished projects that were subject to legally enforceable contractual commitments).

In future fiscal years, successor agencies will only be allocated revenue in the amount that is necessary to pay the estimated annual installment payments on enforceable obligations of the former redevelopment agency until all enforceable obligations of the prior redevelopment agency have been paid in full and all assets have been liquidated.

A. Cash and Investments
Cash and investments reported in the accompanying financial statements consisted of the following:

Cash and investments $ 8,230,786
Restricted cash and investments with fiscal agents 9,936,371 Total $ 18,167,157
B. Transfers In/Out
The 2014A Debt Service Private-Purpose Trust Fund and 2014B Debt Service Private-Purpose Trust Fund received $9,760,750 and $1,352,416 from the RDA Retirement Private-Purpose Trust Fund, respectively, for support of debt service payments.
84 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 14 – SUCCESSOR AGENCY TRUST FOR ASSETS OF THE FORMER REDEVELOPMENT AGENCY (Continued)
C. Loans Receivable
The former Redevelopment Agency had engaged in programs designed to encourage construction or improvement in low-to-moderate income housing or other projects. Under these programs, grants or loans are provided under favorable terms to homeowners or developers who agree to spend these funds in accordance with the former Redevelopment Agency’s terms.

Notes and loans receivable are reported in the accompanying financial statements as of June 30, 2022, as follows:

Successor Agency of the Former RDA
Homeowner's Association Assessment $ 3,949
Business Development 7,996
Emeryville Town Center (Bay Street) 10,094,000
Emery Unified School District 596,669
Avalon Commercial LLC 1,040,240
Total Notes and Loans Receivables $ 11,742,854

1. Homeowner’s Association Assessment Loan Program
In February 2009, the former Redevelopment Agency provided loans to owners of Below Market Rate (BMR) units and market rate units in the Oliver Lofts development. Loans to owners of market rate units are secured by trust deeds bear interest at 3.7% and are fully amortized over 20 years.

Loans to BMR unit owners are partially or fully unsecured and may be deferred payment loans to meet debt-to-income ratio requirements. Deferred loans will be reassessed every five years and converted to amortized loans based on owners’ ability to make payments. The BMR loans bear interest at 3.7% and are due in 20 years, with the exception that the deferred loans bear interest at a simple interest rate.

2. Business Development
The former Redevelopment Agency made loans to local business developers within the 1976 and Shellmound Project Areas. These loans were made for the purpose of making property improvements to the businesses. The interest rate on these loans is 3.0%, and they are secured by deeds of trusts or equipment and have monthly payments, including interest.

85 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 14 – SUCCESSOR AGENCY TRUST FOR ASSETS OF THE FORMER REDEVELOPMENT AGENCY (Continued)

3. Emeryville Town Center (Bay Street)
The former Redevelopment Agency assembled a 20-acre site in the Bay Street area, demolished existing improvements and cleaned toxic contaminants. An agreement with Madison-Marquette (Bay Street Partners, LLC), the developer, provided for the redevelopment of the property as a mixed-use project consisting of 400,000 square feet of retail space, 350 residential units and a 250- room hotel.

As part of this agreement, during fiscal year ended June 30, 2001, the former Redevelopment Agency sold the property for $25,500,000. The developer paid $1,800,000 to the former Redevelopment Agency and executed a promissory note to the former Redevelopment Agency in the amount of $23,700,000 secured by an option agreement under which the former Redevelopment Agency may purchase the retail parking parcel and structure from the developer for $1. A $3,300,000 receivable was due the earlier of December 31, 2002, or upon the issuance of a certificate of occupancy for the first tenant. The remaining principal and interest are due annually commencing the tenth year of the Bay Street operations with the final payment due in the 25th year of operation. In fiscal year 2003, $3,300,000 was received and in fiscal year 2011, $1,056,000 was forgiven in lieu of the developer paying for remediation costs on the property.

4. Emery Unified School District
On March 25, 2008, the former Redevelopment Agency made a facilities loan of $2,836,648 to the Emery Unified School District (EUSD). The facilities loan will be used by EUSD to provide supplemental funding of project costs for a two-story modular classroom for Anna Yates Elementary School and the replacement of the playing field and the renovation of the Industrial Arts building at Emery Secondary School. The loan has an interest rate of 4.577333% and is amortized over 16 years with repayment made semi-annually effective December 31, 2008, from EUSD’s share of AB 1290 pass through payments that would otherwise be available for educational facilities.

5. Avalon Commercial LLC
On December 4, 1998, the former Redevelopment Agency loaned the developer of the Avalon Commercial Project $475,000 to cover development costs associated with the commercial space of the project. An additional loan of $55,000 was made on May 25, 2005 to cover development cost overruns. The interest rates are 7% and 3% respectively, secured by a deed of trust on the property.

Payments of principal and interest are to be made from residual cash flow as defined in the promissory note with the full amount of outstanding principal and interest due the earliest of 55 years from the date of the note, when the property is sold or refinanced, or in the event of default on the loan agreement.

86 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 14 – SUCCESSOR AGENCY TRUST FOR ASSETS OF THE FORMER REDEVELOPMENT AGENCY (Continued)
D. Development Agreements
The former Redevelopment Agency had entered into a variety of development agreements with third parties to provide needed improvements and projects. Activities under agreements that are completed or for which there are continuing commitments are disclosed below. The Agency had other agreements that entitled it to collect certain loans or notes receivables, which are disclosed above. These agreements were transferred to the Successor Agency upon dissolution of the former redevelopment agency.

1. Emeryville Bay Street
The developer has acquired parcels from the former Redevelopment Agency for use as a site for the Emeryville Town Center (Bay Street) in exchange for a note receivable due to the former Redevelopment Agency, which is disclosed in Note 14.c.3 above.

E. Capital Assets
The Successor Agency of the Former Redevelopment Agency capital asset activity for the year ending June 30, 2022, is as follows:

Balance at Balance at
June 30, 2021 Additions June 30, 2022
Capital assets not being depreciated:

Construction in progress $ 11,333,991 $ - $ 11,333,991
Total Capital Assets Not
Being Depreciated 11,333,991 - 11,333,991
Capital assets being depreciated:

Buildings and improvements 577,890 - 577,890
Total Capital Assets
Being Depreciated 577,890 - 577,890
Less accumulated depreciation for:

Buildings and improvements 577,890 - 577,890
Total Accumulated Depreciation 577,890 - 577,890
Net Capital Assets
Being Depreciated - - -
Successor Agency of the former
RDA Capital Assets, Net $ 11,333,991 $ - $ 11,333,991
87 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 14 – SUCCESSOR AGENCY TRUST FOR ASSETS OF THE FORMER REDEVELOPMENT AGENCY (Continued)
F. Long-Term Debt
A description of long-term debt outstanding of the Successor Agency as of June 30, 2022, is as follows:

Balance at Balance at Current
Successor Agency of the former RDA June 30, 2021 Retirements June 30, 2022 Portion Public Offering Bonds:

Tax Allocation Refunding
Bonds, Series 2014A $ 60,820,000 $ 6,745,000 $ 54,075,000 $ 7,075,000 Tax Allocation Refunding
Bonds, Series 2014B 8,765,000 995,000 7,770,000 1,030,000 Total Bonds 69,585,000 7,740,000 61,845,000 8,105,000
Unamortized Bond Premium/(Discount)
Tax Allocation Refunding
Bonds, Series 2014A 10,275,140 761,121 9,514,019 -
Tax Allocation Refunding
Bonds, Series 2014B (57,606) (5,486) (52,120) -
Total Unamortized Bond
Premium/(Discount) 10,217,534 755,635 9,461,899 -
Total Successor Agency of the
Former RDA Long-Term Liabilities $ 79,802,534 $ 8,495,635 $ 71,306,899 $ 8,105,000

1. Tax Allocation Refunding Bonds Series 2014A
On July 24, 2014, the Successor Agency to the Emeryville Redevelopment Agency issued $95,450,000 of Tax Allocation Refunding Bonds. Proceeds from the issuance were used to refund the following Public Financing Authority Revenue Bonds: Series 1995, Series 1998B, Series 2001A, Series 2002, and Series 2004. Interest on the Bonds is payable on March 1 and September 1 of each year and the interest rate ranges from 2.0% to 5.0%. The Bonds mature starting September 1, 2015 and end on September 1, 2034. The bonds are secured by a pledge of tax increment funds distributed by the Redevelopment Property Tax Trust Fund (RPTTF). The outstanding balance from this public offering contains a provision stating that if an event of default has occurred and is continuing, the trustee may declare the principal of the Bonds, together with the accrued interest thereon, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything in the Indenture or in the Bonds to the contrary notwithstanding. In addition, the Trustee shall exercise any other remedies available to the trustee in law or at equity. 88 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 14 – SUCCESSOR AGENCY TRUST FOR ASSETS OF THE FORMER REDEVELOPMENT AGENCY (Continued)
The annual requirements to amortize the outstanding bond indebtedness as of June 30, 2022, including interest, are as follows:

Principal Interest
2023 $ 7,075,000 $ 2,508,875
2024 7,435,000 2,146,125
2025 7,815,000 1,764,875
2026 8,180,000 1,365,000
2027 7,770,000 975,250
2028-2032 8,840,000 2,823,500
2033-2035 6,960,000 533,250
$ 54,075,000 $ 12,116,875
Tax Allocation Refunding Bonds
Series 2014A

2. Tax Allocation Refunding Bonds Series 2014B
On July 24, 2014, the Successor Agency to the Emeryville Redevelopment Agency issued $14,270,000 of Tax Allocation Refunding Bonds. Proceeds from the issuance were used to refund the Public Financing Authority Revenue Bonds, Series 1998C and Series 2001B. Interest on the Bonds is payable on March 1 and September 1 of each year and the interest rate grows from 0.70% to 4.625%. The Bonds mature starting September 1, 2015 and end on September 1, 2031. The bonds are secured by housing set aside funds also issued by the RTTPF. The outstanding balance from this public offering contains a provision stating that if an event of default has occurred and is continuing, the trustee may declare the principal of the Bonds, together with the accrued interest thereon, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything in the Indenture or in the Bonds to the contrary notwithstanding. In addition, the Trustee shall exercise any other remedies available to the trustee in law or at equity.

The annual requirements to amortize the outstanding bond indebtedness as of June 30, 2022, including interest, are as follows:

Principal Interest
2023 $ 1,030,000 $ 303,361
2024 1,065,000 263,272
2025 1,105,000 219,310
2026 1,170,000 172,982
2027 2,045,000 106,125
2028-2032 1,355,000 162,228
$ 7,770,000 $ 1,227,278
Tax Allocation Refunding Bonds
Series 2014B
89 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 14 – SUCCESSOR AGENCY TRUST FOR ASSETS OF THE FORMER REDEVELOPMENT AGENCY (Continued)
G. Pollution Remediation Obligations
The City follows the guidance of GASB Statement No. 49, Accounting and Financial Reporting for Pollution Remediation Obligations, establishing accounting and financial reporting standards for pollution (including contamination) remediation obligations, which are obligations to address the current or potential detrimental effects of existing pollution by participating in pollution remediation activities such as site assessments and cleanups.

The former Emeryville Redevelopment Agency acquired properties which were determined to have soil and groundwater contamination. These sites include the Corporation Yard, Bay Street-Site A, and Bay Street-Site B. The former Emeryville Redevelopment Agency is responsible for the investigation, characterization and remediation of the soil and groundwater from the contamination at these sites. In accordance with the Dissolution Act, these obligations are now the responsibility of the Successor Agency to the Emeryville Redevelopment Agency. Remediation costs are covered by Redevelopment Property Tax Trust Fund (“RPTTF”) revenues distributed by Alameda County to the Successor Agency for expenditure on its obligations with approval from the California Department of Finance.

Using the expected outflows technique, the Successor Agency has measured the liabilities based on the pollution remediation outlays expected to be incurred to settle those liabilities.

In fiscal year 2015-16, the Department of Toxic Substances Control (“DTSC”) directed the Successor Agency to conduct additional testing at the Corporation Yard site to further define the vertical and lateral extent of contamination in groundwater. The evaluation concluded that a more comprehensive remedial alternative is required to clean up the contamination. The estimated cost to remediate the Corporation Yard was estimated in 2017 to be approximately $45,100,000, which is in addition to the costs to investigate, evaluate and obtain approval of the remedial action plan by the DTSC. For the 2020-21 ROPS (Recognized Obligation Payment Schedule) period, the California Department of Finance (“DOF”) denied funding in the amount of $2,995,000 for investigation and remediation of the Corporation Yard site, upon determination that remediation of the site is not an enforceable obligation of the former Redevelopment Agency. On May 19, 2019, the City and Successor Agency filed suit challenging the DOF’s determination and denial of remediation funding. The litigation was settled in August 2021 with the determination that the site remediation costs are an enforceable obligation of the former Redevelopment Agency due to the Imminent and Substantial Endangerment Order dated August 13, 2020 (“ISE Order”), issued by DTSC to compel remediation of the site. Pursuant to the ISE Order, an updated remedial action plan reflecting updated cost estimates was submitted to the DOF.

The estimated remaining outstanding cost to complete the clean-up of the Corporation Yard and Bay Street – Site B and conduct on-going groundwater monitoring at Bay Street – Site A, is estimated at $55,105,500 as of June 30, 2022. Of the total clean-up costs, $52,113,000 for the Corporation Yard and $2,425,000 for Bay Street-Site B have been determined to be capitalizable because remediation outlays are necessary to place these assets into their intended location and condition for use. Therefore, these amounts are not reported on the face of the financial statements. 90 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 14 – SUCCESSOR AGENCY TRUST FOR ASSETS OF THE FORMER REDEVELOPMENT AGENCY (Continued)
H. Pledged Revenue
As previously discussed, the former Redevelopment Agency pledged, as security for bonds issued, either directly or through the Financing Authority, a portion of tax increment revenue (including Low and Moderate Income Housing set-aside and pass through allocations) that it receives directly from the RTTPF. The bonds issued were to provide financing for various capital projects, accomplish Low and Moderate Income Housing projects and to defease previously issued bonds. Assembly Bill 1X 26 provided that upon dissolution of the Agency, property taxes allocated to redevelopment agencies no longer are deemed tax increment but rather property tax revenues and will be allocated first to successor agencies to make payments on the indebtedness incurred by the dissolved redevelopment agency. Total principal and interest remaining on the debt is $75,189,153 with annual debt service requirements as indicated above. For the current year, the total property tax revenue recognized by the Successor Agency for the payment of indebtedness incurred by the dissolved redevelopment agency was $15,220,660 and the debt service obligation on the bonds was $10,933,706.

I. Housing Revenue Bonds Without Commission Commitment
On August 15, 1996, the former Redevelopment Agency assisted in the issuance of $16,470,000 in Revenue Bonds for the purpose of providing funds to make a loan to East Bay Bridge Partners to provide permanent financing for a multifamily rental housing project known as the East Bay Bridge Project. Principal and interest on the bonds are payable semi-annually on March 1 and September 1 of each year commencing March 1, 1998. The Commission has no legal or moral commitment for the repayment of these bonds.

On October 9, 2002, the former Redevelopment Agency assisted in the issuance of $66,715,000 in Multifamily Housing Refunding Revenue Bonds, Series 2002A for the purpose of providing funds to make a loan to Bay Street Housing Partners to provide financing for the acquisition and construction of a multifamily residential project known as Bay Street Apartments. Interest on the bonds is payable on the 15th day of each month commencing October 15, 2002. The bonds are due October 15, 2042.

The former Redevelopment Agency has no legal or moral commitment for the repayment of these bonds.

The former Redevelopment Agency assisted in the issuance of $21,000,000 in Multifamily Housing Refunding Revenue Bonds, Series 2005A for the purpose of providing funds to make a loan to Bay Street Partners to provide additional financing for the construction of a multifamily residential project know as Bay Street Apartments. This was done in December 2005 and these bonds provided additional financing to the previously issued Multifamily Housing Refunding Revenue Bonds, Series 2002A. Due to cost overruns in connection with the project, the Borrower requested that the former Redevelopment Agency sell the additional bonds. The former Redevelopment Agency has no legal or moral commitment for the repayment of these bonds.

J. Insurance
The Successor Agency is covered under the City of Emeryville’s insurance policies. Therefore, the limitation and self-insured retentions applicable to the City also apply to the Successor Agency.

Additional information as to coverage and self-insured retentions can be found in Note 12.

91 CITY OF EMERYVILLE

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2022
NOTE 14 – SUCCESSOR AGENCY TRUST FOR ASSETS OF THE FORMER REDEVELOPMENT AGENCY (Continued)
K. Subsequent Event
In 2017, the Successor Agency filed litigation against several defendants seeking joint and several liability for its environmental remediations costs related to polluted groundwater at and emanating from the former Marchant/Whitney site (the “Property”) located at 5679 Horton Street in the City of Emeryville. Recently, the Successor Agency reached a settlement agreement with three defendants in this litigation. The settlement agreement was approved by the County of Alameda Countywide Oversight Board on July 25, 2022, and submitted to the California Department of Finance (DObF) for their review. The settlement agreement requires that the court where the litigation was filed approve a “good faith settlement” motion. The settlement agreement also requires a lump sum payment of $33 million dollars to be deposited and held in a separate fund by the Successor Agency and expended only to pay for cost incurred to clean up the Property. DOF has agreed that these settlement funds can be held by the Successor Agency and expended to pay for cleanup costs related to the Property once the settlement agreement funds have been listed on an approved Recognized Obligation Payment Schedule (the “ROPS”), beginning in fiscal year July 1, 2023 through June 30, 2024. 92 CITY OF EMERYVILLE

GENERAL FUND

SCHEDULE OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Budget Amounts Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 54,299,994 $ 54,299,994 $ 54,299,994 $ - Resources (Inflows)
Taxes 27,177,160 33,650,950 36,975,855 3,324,905
Licenses and permits 2,608,159 7,827,840 8,511,793 683,953 Intergovernmental 3,889,571 3,102,964 3,174,192 71,228
Charges for services 1,016,700 856,852 548,684 (308,168) Investment income 569,385 436,385 (2,618,538) (3,054,923) Rental income 401,000 411,882 436,712 24,830
Contributions 267,600 346,254 320,708 (25,546)
Miscellaneous 490,675 732,520 1,227,215 494,695
Transfers in 2,561,500 2,658,983 1,591,823 (1,067,160)
Total Resources 38,981,750 50,024,630 50,168,444 143,814 Amounts Available for Appropriations 93,281,744 104,324,624 104,468,438 143,814 Charges to Appropriation (Outflows)
City council 204,686 196,825 184,998 11,827
City manager 1,140,471 1,211,282 942,544 268,738
City attorney 665,726 841,835 536,178 305,657
Finance 1,123,038 1,061,039 984,478 76,561
Human resources 803,693 802,343 780,633 21,710
Information technology 815,674 808,439 789,206 19,233
General government - non-departmental operations 2,975,238 2,436,282 2,693,219 (256,937) Police 14,702,823 14,815,719 14,153,295 662,424
Fire 9,638,379 9,647,776 9,553,333 94,443
Planning and building 2,723,456 4,611,157 4,363,795 247,362 Economic development and housing 836,853 833,428 704,802 128,626 Community services 645,400 785,604 734,620 50,984
Youth services 1,508,989 1,404,334 1,386,293 18,041
Adult services 745,559 675,797 517,395 158,402
Public works 3,792,514 3,760,648 3,763,659 (3,011)
Capital outlay 8,319 - (8,319)
Transfers (out) 2,068,034 3,555,609 3,488,244 67,365
Total Charges to Appropriations 44,390,533 47,448,117 45,585,011 1,863,106 Fund Balance, June 30 $ 48,891,211 $ 56,876,507 $ 58,883,427 $ 2,006,920 93 CITY OF EMERYVILLE

OTHER GRANTS SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 1,834,563 $ 1,834,563 $ 1,834,563 $ - Resources (Inflows)
Intergovernmental 10,678,637 10,869,750 1,684,422 (9,185,328) Investment income 10,000 9,997 6,906 (3,091)
Transfers in - 64,619 64,619 -
Amounts Available for Appropriations 12,778,929 12,523,200 3,590,510 (9,188,419) Charges to Appropriation (Outflows)
Police 16,500 187,613 29,279 158,334
Adult services 50,000 114,619 50,000 64,619
Capital outlay 9,212,702 1,447,991 7,764,711 9,192,702
Total Charges to Appropriations 9,259,202 9,514,934 1,527,270 7,987,664 Fund Balance, June 30 $ 3,263,995 3,263,998 $ 2,063,240 $ (1,200,755) $ Budget Amounts
94 Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 23,057,012 $ 23,057,012 $ 23,057,012 $ - Resources (Inflows)
Charges for services - - 45,047 45,047
Investment income 120,000 231,700 255,725 24,025
Rent - - 16,408 16,408
Miscellaneous 339,644 578,427 615,567 37,140
Amounts Available for Appropriations 23,516,656 23,867,139 23,989,759 122,620 Charges to Appropriation (Outflows)
Economic development and housing 916,255 167,531 910,467 5,788 Total Charges to Appropriations 167,531 916,255 910,467 5,788 Fund Balance, June 30 $ 23,349,125 $ 22,950,884 $ 23,079,292 $ 128,408 Budget Amounts

CITY OF EMERYVILLE

HOUSING ASSETS SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
95 Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 635,366 $ 635,366 $ 635,366 $ - Resources (Inflows)
Taxes 4,446,800 4,343,798 4,261,370 (82,428)
Investment income 5,000 5,000 3,736 (1,264)
Transfers in 560,600 564,726 564,726 -
Amounts Available for Appropriations 5,548,890 5,647,766 5,465,198 (83,692) Charges to Appropriation (Outflows)
City council 17,600 17,600 17,600 -
Property based improvement district 4,525,698 4,861,977 4,859,599 2,378 Total Charges to Appropriations 4,543,298 4,879,577 4,877,199 2,378 Fund Balance, June 30 $ 1,104,468 $ 669,313 $ 587,999 $ (81,314) Budget Amounts

CITY OF EMERYVILLE

PROPERTY BASED IMPROVEMENT DISTRICT SPECIAL REVENUE FUND

SCHEDULE OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

BUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2022
96 This Page Intentionally Left Blank

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY –

MISCELLANEOUS PLAN
COST SHARING – EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1)
Measurement Date June 30 2021 2020 2019
Plan's Proportion of the Net Pension Liability 0.41993% 0.36372% 0.13257% Plan's Proportionate Share of the Net Pension Liability $ 7,973,731 $ 15,341,913 $ 13,584,578 Plan's Covered Payroll 10,436,301 8,882,221 8,614,042
Plan's Proportionate Share of the Net Pension Liability as a Percentage of Covered Payroll 76.40% 172.73% 157.70%
The Pension Plan's (PERF-C) Fiduciary Net Position as
a Percentage of the Total Pension Liability 90.49% 78.04% 75.26% Notes to Schedule:

Benefit Changes:

Changes of Assumptions:

There were no changes to benefit terms. However, the figures above do not include any liability impact that may have resulted from plan changes which occurred after June 30, 2016. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).

In 2019, 2020, and 2021, there were no changes. In 2018, demographic assumptions and inflation rates were changed in accordance with the CalPERS Experience Study and Review of Actuarial Assumptions December 2017. There were no changes in the discount rate. In 2017, the accounting dicsount reduced from 7.65 percent to

7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of adminstrative expense) to 7.65 percent (without a reduction for pension plan adminstrative expense). In 2014, amount reported were based on the 7.5 percent discount rate. (1) Historical information is required only for measurement for which GASB 68 is applicable.

Fiscal Year 2015 was the first year of implementation, therefore only eight years are shown. 98 CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY –

MISCELLANEOUS PLAN
COST SHARING – EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1) (Continued)
2018 2017 2016 2015 2014

0.12092% 0.11846% 0.10969% 0.08757% 0.08955%
$ 11,652,402 $ 11,747,763 $ 9,491,366 $ 6,010,619 $ 5,572,106 8,333,650 8,122,643 7,489,145 7,484,785 6,989,367
139.82% 144.63% 126.73% 80.30% 79.72%

75.26% 73.31% 74.06% 78.40% 79.82%
99 CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY –

SAFETY PLAN
COST SHARING – EMPLOYER DEFINED BENEFIT PENSION PLAN
AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1)
Measurement Date June 30 2021 2020 2019
Plan's Proportion of the Net Pension Liability 0.55940% 0.49710% 0.31524% Plan's Proportionate Share of the Net Pension Liability $ 19,631,975 $ 33,118,423 $ 30,377,824 Plan's Covered Payroll 6,251,423 5,390,900 5,522,414
Plan's Proportionate Share of the Net Pension Liability as a Percentage of Covered Payroll 314.04% 614.34% 550.08% The Pension Plan's (PERF-C) Fiduciary Net Position as
a Percentage of the Total Pension Liability 86.61% 73.36% 75.26% Notes to Schedule:

Benefit Changes:

Changes of Assumptions:

There were no changes to benefit terms. However, the figures above do not include any liability impact that may have resulted from plan changes which occurred after June 30, 2016. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).

In 2019, 2020, and 2021, there were no changes. In 2018, demographic assumptions and inflation rates were changed in accordance with the CalPERS Experience Study and Review of Actuarial Assumptions December 2017. There were no changes in the discount rate. In 2017, the accounting dicsount reduced from 7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the discount rate from 7.5 percent (net of adminstrative expense) to 7.65 percent (without a reduction for pension plan adminstrative expense). In 2014, amount reported were based on the 7.5 percent discount rate.
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore only eight years are shown. 100

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY –

SAFETY PLAN
COST SHARING – EMPLOYER DEFINED BENEFIT PENSION PLAN
AS OF JUNE 30, FOR THE LAST TEN FISCAL YEARS (1) (Continued) 2018 2017 2016 2015 2014

0.29242% 0.51479% 0.44882% 0.35246% 0.30886%
$ 28,178,105 $ 32,032,873 $ 27,927,528 $ 21,931,706 $ 19,218,805 5,396,885 5,077,077 4,641,902 4,249,620 4,200,740
522.12% 630.93% 601.64% 516.09% 457.51%

75.26% 73.31% 74.06% 78.40% 79.82%
101

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS – EMERYVILLE POLICE OFFICERS’ ASSOCIATION RETIREMENT ENHANCEMENT PLAN

AGENT MULTIPLE-EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1)
Measurement Date June 30 2022 2021 2020

TOTAL PENSION LIABILITY
Service Cost 49,935 $ 48,599 $ 52,616 $
Interest on Total Pension Liability 154,925 129,923 121,264 Effect of Plan Changes - - 102,056
Effect of Economic/Demographics Gains or Losses - 277,556 - Effect of Assumptions Changes or Inputs - - (203,340)
Benefit Payments (75,041) (70,581) (45,817)
Net Change in Total Pension Liability 129,819 385,497 26,779 Total Pension Liability - Beginning 2,370,450 1,984,953 1,835,539 Total Pension Liability - Ending (a) $ 2,500,269 $ 2,370,450 $ 1,862,318

PLAN FIDUCIARY NET POSITION
Benefit Payments $ (75,041) $ (70,581) $ (45,817)
Employer Contributions 152,560 124,410 133,865
Net Investment Income (285,058) 372,140 91,722
Administrative Expenses (8,240) (7,757) (6,465)
Net Change in Fiduciary Net Position (215,779) 418,212 173,305 Plan Fiduciary Net Position - Beginning 2,089,208 1,670,996 1,378,948 Plan Fiduciary Net Position - Ending (b) $ 1,873,429 $ 2,089,208 $ 1,552,253 Plan Net Pension Liability/ - Ending (a) - (b) $ 626,840 $ 281,242 $ 310,065 Plan Fiduciary Net Position as a Percentage of the
Total Pension Liability 74.93% 88.14% 83.35%
Covered Payroll $ 3,221,809 $ 3,135,581 $ 3,241,206
Plan Net Pension Liability as a Percentage of
Covered Payroll 19.46% 8.97% 9.57%
Notes to Schedule:

Changes of Assumptions: In 2022, there were no changes in assumptions.

Benefit Changes: The figures above do not include any liability impact that may have resulted from plan changes which occurred after June 30, 2016. This applies for voluntary benefit changes as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, however, the information for Fiscal Year 2015 is unavailable. Additional data will be added as they become available.
102

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIOS – EMERYVILLE POLICE OFFICERS’ ASSOCIATION RETIREMENT ENHANCEMENT PLAN

AGENT MULTIPLE-EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1) (Continued)
2019 2018 2017 2016
$ 70,230 $ 68,184 $ 67,969 $ 65,989
111,940 126,160 113,800 102,162
- - - -
- (387,260) - -
133,479 - - -
(17,754) (6,962) (3,919) (3,842)
297,895 (199,878) 177,850 164,309
1,537,644 1,737,522 1,559,672 1,395,363
$ 1,835,539 $ 1,537,644 $ 1,737,522 $ 1,559,672
$ (17,754) $ (6,962) $ (3,919) $ (3,842)
134,840 181,897 102,789 111,064
74,533 101,720 58,983 16,626
(6,076) (5,350) (4,246) (3,662)
185,543 271,305 153,607 120,186
1,193,405 922,100 768,493 648,307
$ 1,378,948 $ 1,193,405 $ 922,100 $ 768,493
$ 456,591 $ 344,239 $ 815,422 $ 791,179

75.12% 77.61% 53.07% 49.27%
$ 3,154,458 $ 3,786,204 $ 3,675,926 $ 3,568,860

14.47% 9.09% 22.18% 22.17%
103

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PLAN CONTRIBUTIONS – MISCELLANEOUS PLAN
COST SHARING – EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1)
Fiscal Year Ended June 30 2022 2021 2020
Actuary Determined Contribution $ 1,783,332 $ 1,334,665 $ 1,369,757 Contribution in Relation to the
Actuarially Determined Contribution (1,783,332) (1,334,665) (1,369,757) Contribution Deficiency (Excess) $ - $ - $ -
Actual Contributions as a Percentage of
Actuarial Determined Contributions 100.00% 100.00% 100.00% Covered Payroll $ 10,129,480 $ 10,436,301 $ 8,882,221
Contributions as a Percentage of Covered Payroll 17.61% 12.79% 15.42% Note to Schedule:

Valuation Date: June 30, 2020
Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry age normal
Amortization method/period Level percent payroll/closed Source
Investment Non-Investment
Amortization Period 30 years 30 years 20 years 20 years 5 years Escalation Rate
- Active Plans 2.75% 2.75% 2.75% 2.75% 2.75%
- Inactive Plans 0% 0% 0% 0% 0%
Ramp Up 5 5 5 00
Ramp Down 5 5 5 00
Asset valuation method Market value
Inflation 2.50%
Payroll growth 2.75%
Investment rate of return 7.15% (net of pension plan investment and administrative expenses, includes inflation) Retirement age
Mortality
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore only eight years are shown.

All other actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study for the period from 1997 to 2015, including updates to salary increase, mortality and retirement rates. The Experience Study report may be accessed on the CalPERS website at www.calpers.ca.gov under Forms and Publications.

The mortality table used was developed based on CalPERS’ specific data. The table includes 15 years of mortality improvements using 90 percent of Society of Actuaries' Scale 2016. For more details on this table, please refer to the 2017 experience study report.

Driver
Assumption/Method
Change Golden Handshake
(Gain)/Loss
Benefit Change
104

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PLAN CONTRIBUTIONS – MISCELLANEOUS PLAN
COST SHARING – EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1) (Continued)
2019 2018 2017 2016 2015
$ 1,124,374 $ 730,186 $ 715,234 $ 621,417 $ 597,401
(1,124,374) (730,186) (715,234) (687,044) (597,401)
$ - $ - $ - $ (65,627) $ -
100.00% 100.00% 100.00% 110.56% 100.00%
$ 8,614,042 $ 8,333,650 $ 8,122,643 $ 7,489,145 $ 7,484,785

13.05% 8.76% 8.81% 9.17% 7.98%
105

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PLAN CONTRIBUTIONS – SAFETY PLAN
COST SHARING – EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1)
Fiscal Year Ended June 30 2022 2021 2020
Actuary Determined Contribution $ 3,613,298 $ 3,508,756 $ 3,030,829 Contribution in Relation to the
Actuarially Determined Contribution (3,613,298) (3,508,756) (3,030,829) Contribution Deficiency (Excess) $ - $ - $ -
Actual Contributions as a Percentage of
Actuarial Determined Contributions 100.00% 100.00% 100.00% Covered Payroll $ 6,438,327 $ 6,251,423 $ 5,390,900
Contributions as a Percentage of Covered Payroll 56.12% 56.13% 56.22% Note to Schedule:

Valuation Date: June 30, 2020
Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry age normal
Amortization method/period Level percent payroll/closed Source
(Gain)/Loss
Investment Benefit Change
Amortization Period 30 years 30 Years 20 Years 20 Years 5 years Escalation Rate
- Active Plans 2.75% 2.75% 2.75% 2.75% 2.75%
- Inactive Plans 0% 0% 0% 0% 0%
Ramp Up 5 5 5 0 0
Ramp Down 5 5 5 0 0
Asset valuation method
Inflation Market value
Payroll growth 2.50%
Investment rate of return Varies by Entry Age and Service Retirement age
Mortality The mortality table used was developed based on CalPERS’ specific data. The table includes 15 years of mortality improvements using 90 percent of Society of Actuaries' Scale 2016. For more details on this table, please refer to the 2017 experience study report.
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, therefore only eight years are shown.

Non-Investment

7.15% (net of pension plan investment and administrative expenses, includes inflation)
All other actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study for the period from 1997 to 2015, including updates to salary increase, mortality and retirement rates. The Experience Study report may be accessed on the CalPERS website at www.calpers.ca.gov under Forms and Publications.

Driver Golden Handshake
Assumption/Method
Change
106

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PLAN CONTRIBUTIONS – SAFETY PLAN
COST SHARING – EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1) (Continued)
2019 2018 2017 2016 2015
$ 2,658,885 $ 2,307,196 $ 1,523,991 $ 821,621 $ 847,794 (2,658,885) (6,307,196) (2,260,671) (1,823,955) (1,347,875) $ (4,000,000) - $ $ (736,680) $ (1,002,334) $ (500,081) 100.00% 273.37% 148.34% 221.99% 158.99%
$ 5,522,414 $ 5,396,885 $ 5,077,077 $ 4,641,902 $ 4,249,620

48.15% 116.87% 44.53% 39.29% 31.72%
107

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PLAN CONTRIBUTIONS – EMERYVILLE POLICE OFFICERS’

ASSOCIATION RETIREMENT ENHANCEMENT PLAN

AGENT MULTIPLE-EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1)
Fiscal Year Ended June 30 2022 2021 2020 2019
Actuarially Determined Contribution $ 128,559 $ 124,410 $ 129,347 $ 133,865 Contribution in Relation to the
Actuarially Determined Contribution (152,560) (136,068) (147,759) (151,057) Contribution Deficiency (Excess) $ (24,001) $ (11,658) $ (18,412) $ (17,192) Actual Contributions as a Percentage of
Actuarial Determined Contributions 118.67% 109.37% 114.23% 112.84% Covered Payroll $ 3,221,809 $ 3,135,581 $ 3,241,206 $ 3,154,458 Contributions as a Percentage of Covered Payroll 4.74% 4.34% 4.56% 4.79% Note to Schedule:

Valuation Date: June 30, 2020
Methods and assumptions used to
determine contribution rates:

Actuarial cost method Entry age normal
Amortization method Level dollar, closed
Remaining amortization period 15 years 15 years
Assets valuation method None None
Inflation 2.50%
Salary increases Varies by entry age and service Varies by entry age and services Investment rate of return 6.50%
Payroll growth 2.75%
Cost of living adjustments 2.00%
Mortality Pre-Retirement: CalPERS Public Agency Police Mortality rates after June 30, 2017 (both Industrial and Non-Industrial as applicable).

Post-Retirement: CalPERS 1997-2011 Health Retiree Mortality Tables after June 30, 2017.

Withdrawal CalPERS Public Agency Police Terminated Refund plus Terminated Vested rates.

Disability CalPERS Public Agency Police Disability rates.

Retirement age CalPERS Public Agency Police 3% at Age 50 Retirement rates.

Maximum benefits and salary Salary limits under 401(a)(17) apply. Limit is assumed to increase 2.75% a year.

Beneficiaries 80% of participants are assumed to have an eligible spouse or domestic partner, with males three years older than their female partners.
(1) Historical information is required only for measurement for which GASB 68 is applicable. Fiscal Year 2015 was the first year of implementation, however, the information for Fiscal Year 2015 is unavailable. Additional data will be added as they become available. 108

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF PLAN CONTRIBUTIONS – EMERYVILLE POLICE OFFICERS’

ASSOCIATION RETIREMENT ENHANCEMENT PLAN

AGENT MULTIPLE-EMPLOYER DEFINED BENEFIT PENSION PLAN
LAST TEN YEARS (1) (Continued)
2018 2017 2016
$ 134,840 $ 152,747 $ 158,946
(151,248) (204,481) (176,393)
$ (16,408) $ (51,734) $ (17,447)
112.17% 133.87% 110.98%
$ 3,786,204 $ 3,675,926 $ 3,568,860

3.99% 5.56% 4.94%
109

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION

SCHEDULE OF CHANGES IN THE NET OPEB LIABILITY AND RELATED RATIOS

AGENT MULTIPLE-EMPLOYER DEFINED BENEFIT PLAN
LAST TEN YEARS (1)
Measurement Date June 30 2021 2020 2019 2018 2017
Total OPEB Liability
Service cost $ 484,899 $ 547,252 $ 495,745 $ 130,287 $ 126,800 Interest on the total OPEB liability 253,206 340,517 338,652 356,143 348,921 Actual and expected experience difference - (205,089) - (78,733) - Changes in assumptions (27,318) 280,736 369,238 1,391,116 - Benefit payments (455,517) (430,059) (449,192) (342,960) (467,946) Net change in total OPEB liability 255,270 533,357 754,443 1,455,853 7,775 Total OPEB liability - beginning 9,633,758 9,100,401 8,345,958 6,890,105 6,882,330 Total OPEB liability - ending (a) 9,889,028 9,633,758 9,100,401 8,345,958 6,890,105 Plan Fiduciary Net Position
Contribution - employer 388,037 365,205 381,084 266,889 368,550 Net investment income 50,654 69,156 70,036 73,206 78,423 Benefit payments (455,517) (430,059) (449,192) (342,960) (467,946) Administrative expense (29,879) (32,563) (32,209) (32,172) (18,535) Net change in plan fiduciary net position (46,705) (28,261) (30,281) (35,037) (39,508) Plan fiduciary net position - beginning 2,355,719 2,383,980 2,414,261 2,449,298 2,488,806 Plan fiduciary net position - ending (b) 2,309,014 2,355,719 2,383,980 2,414,261 2,449,298 Net OPEB Liability/(Assets) - ending (a) - (b) $ 7,580,014 $ 7,278,039 $ 6,716,421 $ 5,931,697 $ 4,440,807 Plan fiduciary net position as a percentage of
the total OPEB liability 23.35% 24.45% 26.20% 28.93% 35.55% Covered-employee payroll (contributions not
based on measure of pay) $ 16,687,723 $ 15,912,848 $ 15,549,049 $ 14,414,822 $ 15,318,041 Net OPEB liability as a percentage of
covered-employee payroll 45.42% 45.74% 43.20% 41.15% 28.99% (1) Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the first year of implementation.

Future years' information will be displayed up to 10 years as information becomes available.

Notes to schedule:

Changes in assumptions: In 2021, the discount rate increased from 3.56% to 3.58%. In 2018, demographic assumptions and inflation rates were changed in accordance with the CalPERS Experience Study and Review of Actuarial Assumptions December 2017. 110

CITY OF EMERYVILLE

REQUIRED SUPPLEMENTARY INFORMATION

SCHEDULE OF OPEB PLAN CONTRIBUTIONS

AGENT MULTIPLE-EMPLOYER DEFINED BENEFIT PLAN
LAST TEN YEARS (1)
FISCAL YEAR ENDED JUNE 30 2022 2021 2020 2019 2018
Actuarially Determined Contribution $ 370,788 $ 388,037 $ 365,205 $ 381,084 $ 368,550 Contribution in Relation to the Actuarially
Determined Contributions (370,788) (388,037) (365,205) (274,317) (227,281) Contribution Deficiency (Excess) $ - $ - $ - $ 106,767 $ 141,269 Covered-employee payroll (contributions
not based on measure of pay) $ 16,889,106 $ 16,687,723 $ 15,912,848 $ 15,549,049 $ 14,414,822 Contributions as a percentage of
covered-employee payrol 2.20% 2.33% 2.30% 2.45% 2.56%
Notes to Schedule
*Actuarial methods and assumptions used to set the actuarially determined contribution for Fiscal Year 2022 were from the June 30, 2021 actuarial valuation.

Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry age normal
Amortization Valuation Method/Period Level percent of payroll over a closed rolling 15-year period Asset Valuation Method Market value
Inflation 2.75%
Payroll growth 3.00% per annum, in aggregate
Investment rate of return 4.25% per annum
Healthcare cost-trend rates 4% per annum
Retirement Age Based on CalPERS retirement rates
Mortality
(1) Historical information is required only for the measurement periods for which GASB 75 is applicable. Fiscal Year 2018 was the first year of implementation.

Future years' information will be displayed up to 10 years as information becomes available.

Pre-retirement mortality probability based on 2017 CalPERS 1997 to 2015 Experience Study covering CalPERS participants. Post-retirement mortality probability based on CalPERS Experience Study 2007 to 2011 covering participants in CalPERS.
111

CITY OF EMERYVILLE

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
FOR THE YEAR ENDED JUNE 30, 2022
Note 1: Budgets and Budgetary Accounting
a. Budgeting Procedures
The City operates under the general laws of the State of California and bi-annually adopts a budget for its governmental fund types, except for the Small Local Bus Support and the Code Enforcement Reserve Special Revenue Funds, to be effective July 1 for the ensuing fiscal years. From the effective date of the budget, which is adopted by City Council and controlled by the City Manager at the fund level, the amounts slated therein as proposed expenditures budget by resolution during the fiscal year. The City Manager may authorize transfer of appropriations from one object, purpose, or department to another within the same fund provided the level of service stays the same. All appropriations lapse at yearend, except those relating to long-term capital projects. Supplemental appropriations were approved by the City Council during the year ended June 30, 2022 and are included in the final budget amounts presented in the basic financial statements. b. Budgetary Basis
Bi-annual budgets are adopted on a basis consistent with generally accepted accounting principles.
c. Expenditures in Excess of Appropriations
Expenditures for the year ended June 30, 2022 exceeded the appropriations in the following funds:

Housing Community Development Special Revenue Fund $15,776 Park / Rec Impact Fee Special Revenue Fund 322
Emergency Medical Services Special Revenue Fund 21,741
The funds had sufficient revenues to cover the expenditures that exceeded the final budget. 112

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
The Housing Community Development Fund accounts for Federal Community Development Block Grant (CDBG) funds and CDBG Program Income funds utilized for CDBG eligible projects.

The Cal - Home Loan Program Fund accounts for funds received and loans made under the State of California’s Cal Home Loan program.

The Police Impound Fund accounts for asset forfeiture funds allocated to the Police Department under state law.

The Catellus Contingent Fund accounts for a deposit payment that was required of the Catellus Development Corporation as a development condition of approval and is to be utilized for installation of a future pedestrian actuated signal, if required.

The Special Gas Tax Street Improvement Fund accounts for gas tax revenues apportioned by the state under specific statutory authority. The allocation formula is a combination of population and street mileage. The use of gas tax revenues is restricted to specific street maintenance activities.

The General Plan Maintenance Fund accounts for fees collected to cover costs of updating the City’s Plan and Zoning Ordinance over the next 20 years.

The Child Development Fund accounts for all revenue utilized to support the operations of the Emeryville Child Development Center, including grant funds from the State Department of Education, program fees and a General Fund subsidy.

The Measure B Fund accounts for revenues generated by a special one-half cent sales tax that was approved by the voters of Alameda County in 1986 and reauthorized in 2000. These funds are restricted for local transportation and special transportation (paratransit) purposes.

The Measure BB Fund accounts for revenues generated by a special one-half cent sales tax that was approved in 2014. These funds are restricted for local transportation and special transportation (paratransit) purposes and are distributed monthly by the Alameda County Transportation Commission.

The Transportation Impact Fee Fund accounts for transportation impact fees paid by new development, as required by the City’s Transportation Impact Fee Ordinance.

The Park / Rec Impact Fee Fund accounts for parks and recreation impact fees paid by new development, as required by the City’s Park / Rec Impact Fee Ordinance.

The Affordable Housing Impact Fee Fund accounts for rental residential developments and nonresidential developments to mitigate the impact of such developments on the need for affordable housing in the City.

The Supplemental Law Enforcement Fund accounts for state entitlements, which must be spent for front line municipal police services including anti-gang and community crime prevention programs.

The Emergency Medical Services (EMS) Fund accounts for the Supplemental Assessment paid by Emeryville residents for emergency medical services provided by the Emeryville Fire Department. 113

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS
Special Revenue Funds (Continued)
The Recycling / Source Reduction Fund accounts for revenue generated through a surcharge on garbage rates, which is utilized for waste reduction, recycling and cleanup programs.

The Measure D Fund accounts for the City of Emeryville’s allocation of funds generated by the landfill surcharge under the Alameda County Recycling Initiative (Measure D). Measure D funds are restricted to specific recycling and waste reduction activities.

The Emeryville Public Art Fund accounts for funds received from new development as required under the City’s Percent for Art Ordinance.

The Information Technology Fund accounts for funds set aside to support the City’s technology upgrade program. This fund was initiated in 1997.

The PEG Program Fund accounts for franchise fees collected for Public, Educational, and Governmental access video programming.

The Urban Forestry Fee Fund accounts for fees and penalties collected under the City’s Urban Forestry Ordinance governing the removal and replacement of street trees.

The Affordable Housing Fund accounts for residual property tax revenue committed to affordable housing projects and programs.

The Environmental Program Fund accounts for funds committed to environmentally friendly projects.

The Small Local Business Support Fund accounts for funds collected from developers to support small local serving businesses.

The Road Maintenance & Rehabilitation Fund reports the allocation of State taxes enacted by the Road Repair and Accountability Act of 2017.

The Measure B-VRF Fund accounts for a pro-rata share of the annual $10 per vehicle Vehicle Registration Fee (VRF) approved by voters in Alameda County in 2010. These funds are restricted for local road improvements and repairs.

The Code Enforcement Reserve Fund has been established to provide for mitigation of property related code enforcement activities. Future recovery from property owner or property levy will be used for mitigation activities.

The Measure F Fund accounts for revenues generated by a special one quarter percent (0.25%) of the retail transactions and use tax effective July 1, 2020 to support the City’s various specified personnel positions and Child Development Program.

The Parking Program Fund accounts for fees collected from parking within Emeryville to support the City’s parking program beginning February 2021.
114

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS
Capital Project Funds
The 1999 Revenue Bond Fund accounts for bond proceeds from the 1999 bonds that were issued from the West Emeryville, Bay Street Shellmound Street expansion and East Bay Bridge Districts.

The Marina Improvement Fund accounts for the capital improvements of the Emeryville Public Marina.

The Marina Fund was an enterprise fund until December 1998 when the facility was leased to a private company.

The Emeryville Center of Community Life Fund is funded by a $21.2M cash transfer of bond proceeds from the former redevelopment agency and accounts for capital expenditures related to the development of the Emeryville Center of Community Life.

The Implementation Plan 2010-14 Fund accounts for capital project commitments located within the Shellmond Park Redevelopment Project Area and is funded by $3.8M in bond proceeds transferred to the City by the Successor Agency in fiscal year 2015.

The Pedestrian Path Improvement Fund accounts for funds committed for street bicycle and pedestrian improvements.

The Major Maintenance Fund accounts for funds set aside to complete major maintenance projects at City owned facilities. The fund was initiated during the 1993-1994 fiscal year with one-time revenues, and currently receives annual payments from each City department that operates a City facility.

The Vehicle Replacement Fund accounts for resources set aside for vehicle replacement.

The Developer Contributions Fund accounts for projects to be funded by third parties as conditions of development agreements. Some projects will be delivered as improvements in lieu of cash.

Debt Service Funds
The 1998 Lease Revenue Series A Bond Fund receives transfer from the General Fund and accounts for payments of principal and interest on the 1998 Lease Revenue Series A Bonds. 115
Housing
Community
Development
Cal-Home
Loan Program
Police
Impound
Catellus
Contingent
ASSETS:

Cash, cash equivalents, and investments $ 253,068 $ 1,048,972 $ 59,993 $ 13,089 Receivables:

Accounts - - - -
Taxes - - - -
Due from other governments 48,000 - - -
Accrued interest 183 776 44 10
Total Assets $ 301,251 $ 1,049,748 $ 60,037 $ 13,099
LIABILITIES:

Accounts payable $ 15,776 $ - $ - $ -
Accrued liabilities - - - 694
Unearned revenue 48,000 - - -
Deposits payable - - - -
Total Liabilities 63,776 - - 694
FUND BALANCES:

Restricted for:

Community development projects 237,475 1,049,748 - -
Public safety - - 60,037 -
Public works - - - -
Capital projects - - - 12,405
Debt service - - - -
Small business incentive - - - -
Community services - - - -
Environmental programs - - - -
Committed to:

Community development projects - - - -
Facility maintenance - - - -
Vehicle replacement - - - -
Information technology - - - -
Assigned to:

Capital projects - - - -
Community services - - - -
Total Fund Balances 237,475 1,049,748 60,037 12,405
Total Liabilities and Fund Balances $ 301,251 $ 1,049,748 $ 60,037 $ 13,099

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022

SPECIAL REVENUE FUNDS
116
Special Gas
Tax Street
Improvement
General Plan
Maintenance
Child
Development Measure B
ASSETS:

Cash, cash equivalents, and investments $ 195,055 $ 4,057,218 $ 426,120 913,615$ Receivables:

Accounts - 40 1,370 -
Taxes 23,743 - - 5,021
Due from other governments - - - -
Accrued interest 152 3,010 455 658
Total Assets $ 218,950 $ 4,060,268 $ 427,945 919,294$
LIABILITIES:

Accounts payable $ 94,598 33,029$ 23,895$ 59,079$
Accrued liabilities - - - -
Unearned revenue - - 63 -
Deposits payable - - - -
Total Liabilities 94,598 33,029 23,958 59,079
FUND BALANCES:

Restricted for:

Community development projects - 4,027,239 - -
Public safety - - - -
Public works 124,352 - - 838,370
Capital projects - - - -
Debt service - - - -
Small business incentive - - - -
Community services - - - 21,845
Environmental programs - - - -
Committed to:

Community development projects - - - -
Facility maintenance - - - -
Vehicle replacement - - - -
Information technology - - - -
Assigned to:

Capital projects - - - -
Community services - - 403,987 -
Total Fund Balances 124,352 4,027,239 403,987 860,215
Total Liabilities and Fund Balances $ 218,950 $ 4,060,268 $ 427,945 919,294$ (Continued)

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022

SPECIAL REVENUE FUNDS
117

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022
Measure BB
Transportation
Impact Fee
Park/Rec
Impact Fee
Affordable
Housing
Impact Fee
ASSETS:

Cash, cash equivalents, and investments $ 1,067,201 $ 1,499,344 $ 1,045,241 $ 860,079 Receivables:

Accounts - - - -
Taxes 226,376 - - -
Due from other governments - - - -
Accrued interest 734 1,110 773 636
Total Assets $ 1,294,311 $ 1,500,454 $ 1,046,014 $ 860,715 LIABILITIES:

Accounts payable 24,036$ $ - -$ -$
Accrued liabilities - - - -
Unearned revenue - - - -
Deposits payable - - - -
Total Liabilities 24,036 - - -
FUND BALANCES:

Restricted for:

Community development projects - - 1,046,014 860,715
Public safety - - - -
Public works - - - -
Capital projects 1,500,454 1,192,590 - -
Debt service - - - -
Small business incentive - - - -
Community services 77,685 - - -
Environmental programs - - - -
Committed to:

Community development projects - - - -
Facility maintenance - - - -
Vehicle replacement - - - -
Information technology - - - -
Assigned to:

Capital projects - - - -
Community services - - - -
Total Fund Balances 1,270,275 1,500,454 1,046,014 860,715 Total Liabilities and Fund Balances $ 1,294,311 $ 1,500,454 $ 1,046,014 $ 860,715

SPECIAL REVENUE FUNDS
118
Supplemental
Law
Enforcement
Emergency
Medical
Services
Recycling/
Source
Reduction Measure D
ASSETS:

Cash, cash equivalents, and investments $ 86,057 $ 31,443 - $ $ 59,519 Receivables:

Accounts - - - 9,150
Taxes - 423 - -
Due from other governments - - - -
Accrued interest 56 - 24 47
Total Assets $ 86,113 $ 423 $ 31,467 $ 68,716
LIABILITIES:

Accounts payable $ - $ - $ - $ -
Accrued liabilities - - - -
Unearned revenue - - 20,164 -
Deposits payable - - - -
Total Liabilities - - 20,164 -
FUND BALANCES:

Restricted for:

Community development projects - - - -
Public safety 423 86,113 - -
Public works - - 11,303 68,716
Capital projects - - - -
Debt service - - - -
Small business incentive - - - -
Community services - - - -
Environmental programs - - - -
Committed to:

Community development projects - - - -
Facility maintenance - - - -
Vehicle replacement - - - -
Information technology - - - -
Assigned to:

Capital projects - - - -
Community services - - - -
Total Fund Balances 86,113 423 11,303 68,716
Total Liabilities and Fund Balances $ 86,113 $ 423 $ 31,467 $ 68,716 (Continued)

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022

SPECIAL REVENUE FUNDS
119
Emeryville
Public Art
Information
Technology PEG Program
Urban
Forestry Fee
ASSETS:

Cash, cash equivalents, and investments $ 3,920,109$ 2,548,170 $ 10,493 310,483$ Receivables:

Accounts - 8 137 850
Taxes - - - -
Due from other governments - - - -
Accrued interest 1,834 811 8 225
Total Assets $ 2,550,004 3,920,928$ $ 10,638 311,558$
LIABILITIES:

Accounts payable 30,305$ 23,845$ -$ -$
Accrued liabilities - - - -
Unearned revenue - - - -
Deposits payable 1,019,709 - - 243,286
Total Liabilities 1,050,014 23,845 - 243,286
FUND BALANCES:

Restricted for:

Community development projects 967,288 1,499,990 - -
Public safety - - - -
Public works - - - 68,272
Capital projects - - - -
Debt service - - - -
Small business incentive - - - -
Community services - - 10,638 -
Environmental programs - - - -
Committed to:

Community development projects - - - -
Facility maintenance - - - -
Vehicle replacement - - - -
Information technology - 2,929,795 - -
Assigned to:

Capital projects - - - -
Community services - - - -
Total Fund Balances 1,499,990 3,897,083 10,638 68,272
Total Liabilities and Fund Balances $ 2,550,004 3,920,928$ $ 10,638 311,558$

SPECIAL REVENUE FUNDS

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022
120
Afforable
Housing
Environmenta
l Program
Small Local
Bus Support
Road
Maintenance
&
Rehabilitation
ASSETS:

Cash, cash equivalents, and investments $ 7,153,922 $ 132,460 $ 3,226 608,673$ Receivables:

Accounts 137 - - -
Taxes - - 22,946 -
Due from other governments - - - -
Accrued interest 4,924 88 2 434
Total Assets $ 7,158,983 $ 132,548 $ 3,228 632,053$
LIABILITIES:

Accounts payable $ 86,669 $ 5,000 $ 7,020$ -
Accrued liabilities - - - -
Unearned revenue - - - -
Deposits payable - - - -
Total Liabilities 86,669 5,000 7,020 -
FUND BALANCES:

Restricted for:

Community development projects - - - -
Public safety - - - -
Public works - - - 625,033
Capital projects - - - -
Debt service - - - -
Small business incentive - - 3,228 -
Community services - - - -
Environmental programs 127,548 - - -
Committed to:

Community development projects - 7,072,314 - -
Facility maintenance - - - -
Vehicle replacement - - - -
Information technology - - - -
Assigned to:

Capital projects - - - -
Community services - - - -
Total Fund Balances 7,072,314 127,548 3,228 625,033
Total Liabilities and Fund Balances 7,158,983 $ 132,548 $ 3,228 $ 632,053$ (Continued)

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022

SPECIAL REVENUE FUNDS
121
Measure BVRF
Code
Enforcement
Reserve Measure F
Parking
Program
ASSETS:

Cash, cash equivalents, and investments 99,110$ 317,553$ $ 1,675,371 $ 720,694 Receivables:

Accounts 8,369 - - 1,202
Taxes - - 528,488 -
Due from other governments - - - -
Accrued interest 70 235 1,036 536
Total Assets 107,549$ 317,788$ $ 2,204,895 $ 722,432
LIABILITIES:

Accounts payable -$ -$ -$ 19,941$
Accrued liabilities - - - -
Unearned revenue - - - -
Deposits payable - - - -
Total Liabilities - - - 19,941
FUND BALANCES:

Restricted for:

Community development projects - - - -
Public safety - - 2,204,895 702,491
Public works 107,549 317,788 - -
Capital projects - - - -
Debt service - - - -
Small business incentive - - - -
Community services - - - -
Environmental programs - - - -
Committed to:

Community development projects - - - -
Facility maintenance - - - -
Vehicle replacement - - - -
Information technology - - - -
Assigned to:

Capital projects - - - -
Community services - - - -
Total Fund Balances 107,549 317,788 2,204,895 702,491
Total Liabilities and Fund Balances 107,549$ 317,788$ $ 2,204,895 $ 722,432

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022

SPECIAL REVENUE FUNDS
122
1999
Revenue
Bond
Marina
Improvement
Emeryville
Center of
Community
Life
Implementation
Plan 2010-14
ASSETS:

Cash, cash equivalents, and investments 66,956$ $ 5,445,679 $ 522,220 $ 4,160,479 Receivables:

Accounts - 21,603 - -
Taxes - - - -
Due from other governments - - - -
Accrued interest 50 4,012 385 3,077
Total Assets 67,006$ $ 5,471,294 $ 522,605 $ 4,163,556
LIABILITIES:

Accounts payable -$ 29,198$ -$ $ -
Accrued liabilities 9,813 - - -
Unearned revenue - - - -
Deposits payable - 5,461 - -
Total Liabilities 9,813 34,659 - -
FUND BALANCES:

Restricted for:

Community development projects - - - -
Public safety - - - -
Public works - - - -
Capital projects 57,193 - 522,605 4,163,556
Debt service - - - -
Small business incentive - - - -
Community services - - - -
Environmental programs - - - -
Committed to:

Community development projects - - - -
Facility maintenance - - - -
Vehicle replacement - - - -
Information technology - - - -
Assigned to:

Capital projects - 5,436,635 - -
Community services - - - -
Total Fund Balances 57,193 5,436,635 522,605 4,163,556
Total Liabilities and Fund Balances 67,006$ $ 5,471,294 $ 522,605 $ 4,163,556 (Continued)

CAPITAL PROJECTS FUNDS

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022
123

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022

CAPITAL PROJECTS FUNDS
Pedestrian
Path
Improvement
Major
Maintenance
Vehicle
Replacement
Developer
Contributions
ASSETS:

Cash, cash equivalents, and investments 408,099$ $ 6,092,418 4,174,635$ 1,683,766$ Receivables:

Accounts - 16,896 - -
Taxes - - - -
Due from other governments - - - -
Accrued interest 302 - - 1,246
Total Assets 408,401$ $ 6,109,314 4,174,635$ 1,685,012$ LIABILITIES:

Accounts payable -$ 151,047$ -$ -$
Accrued liabilities - - - -
Unearned revenue - - - -
Deposits payable - - - -
Total Liabilities - 151,047 - -
FUND BALANCES:

Restricted for:

Community development projects - - - -
Public safety - - - -
Public works - - - -
Capital projects 408,401 - - 1,685,012
Debt service - - - -
Small business incentive - - - -
Community services - - - -
Environmental programs - - - -
Committed to:

Community development projects - - - -
Facility maintenance - 5,958,267 - -
Vehicle replacement - - 4,174,635 -
Information technology - - - -
Assigned to:

Capital projects - - - -
Community services - - - -
Total Fund Balances 408,401 5,958,267 4,174,635 1,685,012 Total Liabilities and Fund Balances 408,401$ $ 6,109,314 4,174,635$ 1,685,012$ 124

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING BALANCE SHEETS
JUNE 30, 2022
DEBT

SERVICE
FUND
1998 Lease
Revenue
Series A Bond
Total Nonmajor
Governmental Funds
ASSETS:

Cash, cash equivalents, and investments $ 3,051 $ 51,673,581 Receivables:

Accounts - 59,762
Taxes - 806,997
Due from other governments - 48,000
Accrued interest - 27,943
Total Assets $ 3,051 $ 52,616,283
LIABILITIES:

Accounts payable $ - $ 603,438
Accrued liabilities - 10,507
Unearned revenue - 68,227
Deposits payable - 1,268,456
Total Liabilities - 1,950,628
FUND BALANCES:

Restricted for:

Community development projects - 9,688,469
Public safety - 3,053,959
Public works - 2,161,383
Capital projects - 9,542,216
Debt service 3,051 3,051
Small business incentive - 3,228
Community services - 110,168
Environmental programs - 127,548
Committed to:

Community development projects - 7,072,314
Facility maintenance - 5,958,267
Vehicle replacement - 4,174,635
Information technology - 2,929,795
Assigned to:

Capital projects - 5,436,635
Community services - 403,987
Total Fund Balances 3,051 50,665,655
Total Liabilities and Fund Balances $ 3,051 $ 52,616,283 125
Housing
Community
Development
Cal-Home
Loan Program
Police
Impound
Catellus
Contingent
REVENUES:

Taxes - $ - $ - $ - $
Licenses and permits - - - -
Intergovernmental 40,499 - - -
Charges for services - - - -
Investment income 524 57,178 130 28
Rental income - - - -
Miscellaneous - 144,411 - -
Total Revenues 41,023 201,589 130 28
EXPENDITURES:

Current:

Information technology - - - -
General governmental-non-departmental operations - - - - Police - - 32,000 -
Fire - - - -
Planning and building - - - -
Economic development and housing - - - -
Community services 31,276 - - -
Child development - - - -
Public works - - - -
Capital outlay - - - -
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 31,276 32,000 - -

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 9,747 201,589 (31,870) 28

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers (out) - - - -
Total Other Financing Sources (Uses) - - - -
NET CHANGE IN FUND BALANCES 9,747 201,589 (31,870) 28
BEGINNING FUND BALANCES 227,728 848,159 91,907 12,377
ENDING FUND BALANCES $ 237,475 $ 1,049,748 $ 60,037 $ 12,405

SPECIAL REVENUE FUNDS

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022
126
Special Gas
Tax Street
Improvement
General Plan
Maintenance
Child
Development Measure B
REVENUES:

Taxes - $ $ - $ - $ 283,382
Licenses and permits - 1,257,611 - -
Intergovernmental 300,288 - 274,238 68,796
Charges for services - - 802,325 1,906
Investment income 411 8,635 1,101 1,779
Rental income - - - -
Miscellaneous - - 240 -
Total Revenues 300,699 1,266,246 1,077,904 355,863
EXPENDITURES:

Current:

Information technology - - - -
General governmental-non-departmental operations - - - - Police - - - -
Fire - - - -
Planning and building - 801,367 - -
Economic development and housing - - - -
Community services - - - 42,420
Child development - - 2,142,038 -
Public works 288,227 - - 17,509
Capital outlay - - - 36,425
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 288,227 801,367 2,142,038 96,354

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 12,472 464,879 (1,064,134) 259,509

OTHER FINANCING SOURCES (USES)
Transfers in - - 1,297,229 -
Transfers (out) - (10,000) (233,094) (61,187)
Total Other Financing Sources (Uses) - (10,000) 1,064,135 (61,187) NET CHANGE IN FUND BALANCES 12,472 454,879 1 198,322
BEGINNING FUND BALANCES 111,880 3,572,360 403,986 661,893 ENDING FUND BALANCES $ 124,352 $ 4,027,239 $ 403,987 $ 860,215 (Continued)

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022

SPECIAL REVENUE FUNDS
127

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022
Measure BB
Transportation
Impact Fee
Park/Rec Impact
Fee
Affordable
Housing
Impact Fee
REVENUES:

Taxes 447,455 $ - $ $ - $ -
Licenses and permits - 337,659 73,689 132,094
Intergovernmental 178,952 - - -
Charges for services - - - -
Investment income 1,948 3,134 2,177 1,751
Rental income - - - -
Miscellaneous - - - -
Total Revenues 628,355 340,793 75,866 133,845
EXPENDITURES:

Current:

Information technology - - - -
General governmental-non-departmental operations - - - - Police - - - -
Fire - - - -
Planning and building - - - -
Economic development and housing - - - -
Community services 25,464 - - -
Child development - - - -
Public works 23,392 997 - -
Capital outlay - 5,170 322 -
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 997 54,026 322 -

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 574,329 339,796 75,544 133,845

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers (out) - - - -
Total Other Financing Sources (Uses) - - - -
NET CHANGE IN FUND BALANCES 574,329 339,796 75,544 133,845 BEGINNING FUND BALANCES 695,946 1,160,658 970,470 726,870 ENDING FUND BALANCES $ 1,270,275 $ 1,500,454 $ 1,046,014 $ 860,715

SPECIAL REVENUE FUNDS
128
Supplemental
Law
Enforcement
Emergency
Medical
Services
Recycling/
Source
Reduction Measure D
REVENUES:

Taxes - $ 212,719 $ - $ $ -
Licenses and permits - - - -
Intergovernmental 161,285 - 4,859 -
Charges for services - - - -
Investment income 110 - 67 125
Rental income - - - -
Miscellaneous - 247 - 46,196
Total Revenues 161,395 212,966 4,926 46,321
EXPENDITURES:

Current:

Information technology - - - -
General governmental-non-departmental operations - - - - Police 155,406 - - -
Fire - 213,241 - -
Planning and building - - - -
Economic development and housing - - - -
Community services - - - -
Child development - - - -
Public works - - 4,859 25,000
Capital outlay - - - -
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 155,406 213,241 4,859 25,000

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 5,989 (275) 67 21,321

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers (out) - - - -
Total Other Financing Sources (Uses) - - - -
NET CHANGE IN FUND BALANCES 5,989 (275) 67 21,321
BEGINNING FUND BALANCES 80,124 698 11,236 47,395
ENDING FUND BALANCES $ 86,113 $ 423 $ 11,303 $ 68,716
(Continued)

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022

SPECIAL REVENUE FUNDS
129

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022
Emeryville
Public Art
Information
Technology PEG Program
Urban Forestry
Fee
REVENUES:

Taxes 148,924 $ - $ 632 $ - $
Licenses and permits - - - -
Intergovernmental - - - -
Charges for services - - - -
Investment income 5,066 2,274 23 674
Rental income - - - -
Miscellaneous 94,742 523,217 - 850
Total Revenues 248,732 525,491 655 1,524
EXPENDITURES:

Current:

Information technology 506,266 - - -
General governmental-non-departmental operations - - - - Police - - - -
Fire - - - -
Planning and building - - - -
Economic development and housing 84,228 - - -
Community services - - - -
Child development - - - -
Public works - - - -
Capital outlay 70,805 21,690 - -
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 155,033 527,956 - -

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 93,699 (2,465) 655 1,524

OTHER FINANCING SOURCES (USES)
Transfers in 1,000,000 - - -
Transfers (out) - - - -
Total Other Financing Sources (Uses) 1,000,000 - - -
NET CHANGE IN FUND BALANCES 93,699 997,535 655 1,524
BEGINNING FUND BALANCES 1,406,291 2,899,548 9,983 66,748 ENDING FUND BALANCES $ 1,499,990 $ 3,897,083 $ 10,638 $ 68,272

SPECIAL REVENUE FUNDS
130
Afforable
Housing
Environmental
Program
Small Local
Bus Support
Road
Maintenance &
Rehabilitation
REVENUES:

Taxes 1,191,393 $ - $ $ - $ -
Licenses and permits - - - -
Intergovernmental - 44,233 - 252,161
Charges for services - - - -
Investment income 13,844 231 7 1,217
Rental income - - - -
Miscellaneous 314,129 - - -
Total Revenues 1,519,366 44,464 7 253,378
EXPENDITURES:

Current:

Information technology - - - -
General governmental-non-departmental operations - - - - Police - - - -
Fire - - - -
Planning and building - - - -
Economic development and housing - 385,171 - -
Community services - - - -
Child development - - - -
Public works - 8,943 - 5,471
Capital outlay - 415,297 - 157,114
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 800,468 8,943 - 162,585

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 718,898 35,521 7 90,793

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers (out) - - - -
Total Other Financing Sources (Uses) - - - -
NET CHANGE IN FUND BALANCES 718,898 35,521 7 90,793
BEGINNING FUND BALANCES 6,353,416 92,027 3,221 534,240
ENDING FUND BALANCES $ 7,072,314 $ 127,548 $ 3,228 $ 625,033 (Continued)

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022

SPECIAL REVENUE FUNDS
131

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022
Measure BVRF
Code
Enforcement
Reserve Measure F
Parking
Program
REVENUES:

Taxes - $ $ - $ 2,643,157 $ -
Licenses and permits - - - 507
Intergovernmental 48,965 - - -
Charges for services - - - 413,096
Investment income 182 683 2,330 1,484
Rental income - - - -
Miscellaneous - - - -
Total Revenues 49,147 683 2,645,487 415,087
EXPENDITURES:

Current:

Information technology - - - -
General governmental-non-departmental operations - - 3,734 - Police - - - 289,098
Fire - - - -
Planning and building - - - -
Economic development and housing - - - 218,327
Community services - - - -
Child development - - - -
Public works 3,125 - - -
Capital outlay - - - -
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 3,125 - 3,734 507,425

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 46,022 683 2,641,753 (92,338)

OTHER FINANCING SOURCES (USES)
Transfers in - - 233,094 555,000
Transfers (out) - - (1,297,229) -
Total Other Financing Sources (Uses) - - (1,064,135) 555,000 NET CHANGE IN FUND BALANCES 46,022 683 1,577,618 462,662 BEGINNING FUND BALANCES 61,527 317,105 627,277 239,829
ENDING FUND BALANCES $ 107,549 $ 317,788 $ 2,204,895 $ 702,491

SPECIAL REVENUE FUNDS
132
1999 Revenue
Bond
Marina
Improvement
Emeryville
Center of
Community
Life
Implementation
Plan 2010-14
REVENUES:

Taxes - $ - $ - $ - $
Licenses and permits - - - -
Intergovernmental - - - -
Charges for services - - - -
Investment income 180 11,537 1,106 8,940
Rental income 458,924 - - -
Miscellaneous - - - -
Total Revenues 470,461 180 1,106 8,940
EXPENDITURES:

Current:

Information technology - - - -
General governmental-non-departmental operations - - - - Police - - - -
Fire - - - -
Planning and building - - - -
Economic development and housing - - - -
Community services - - - -
Child development - - - -
Public works 219,461 - - -
Capital outlay 27,358 30,397 - -
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 30,397 246,819 - -

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (30,217) 223,642 1,106 8,940

OTHER FINANCING SOURCES (USES)
Transfers in - - 25,000 -
Transfers (out) - - - -
Total Other Financing Sources (Uses) - - 25,000 -
NET CHANGE IN FUND BALANCES (30,217) 223,642 26,106 8,940 BEGINNING FUND BALANCES 87,410 5,212,993 496,499 4,154,616 ENDING FUND BALANCES $ 57,193 $ 5,436,635 $ 522,605 $ 4,163,556 (Continued)

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022

CAPITAL PROJECT FUNDS
133

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022
Pedestrian Path
Improvement
Major
Maintenance
Vehicle
Replacement
Developer
Contributions
REVENUES:

Taxes - $ - $ - $ - $
Licenses and permits - - - -
Intergovernmental - - - -
Charges for services - - - -
Investment income 877 - - 3,674
Rental income - - - -
Miscellaneous - 1,302,976 480,210 -
Total Revenues 877 1,302,976 480,210 3,674
EXPENDITURES:

Current:

Information technology - - - -
General governmental-non-departmental operations 531,291 - - - Police - - - -
Fire - - - -
Planning and building - - - -
Economic development and housing - - - -
Community services - - - -
Child development - - - -
Public works - - - -
Capital outlay 31,450 - 760 -
Debt service:

Principal retirement - - - -
Interest and fiscal charges - - - -
Total Expenditures 562,741 - 760 -

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES 877 740,235 479,450 3,674

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers (out) - - (3,432) -
Total Other Financing Sources (Uses) - - (3,432) -
NET CHANGE IN FUND BALANCES 877 740,235 476,018 3,674
BEGINNING FUND BALANCES 407,524 5,218,032 3,698,617 1,681,338 ENDING FUND BALANCES $ 408,401 $ 5,958,267 $ 4,174,635 $ 1,685,012

CAPITAL PROJECT FUNDS
134

CITY OF EMERYVILLE

NON-MAJOR GOVERNMENTAL FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2022
DEBT

SERVICE
FUND
1998 Lease Revenue
Series A Bond
Total Nonmajor
Governmental Funds
REVENUES:

Taxes - $ $ 4,927,662
Licenses and permits - 1,801,560
Intergovernmental - 1,374,276
Charges for services - 1,217,327
Investment income - 133,427
Rental income - 458,924
Miscellaneous - 2,907,218
Total Revenues - 12,820,394
EXPENDITURES:

Current:

Information technology - 506,266
General governmental-non-departmental operations - 535,025 Police - 476,504
Fire - 213,241
Planning and building - 801,367
Economic development and housing - 687,726
Community services - 99,160
Child development - 2,142,038
Public works - 596,984
Capital outlay - 796,788
Debt service:

Principal retirement 299,200 299,200
Interest and fiscal charges 68,995 68,995
Total Expenditures 368,195 7,223,294

EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (368,195) 5,597,100

OTHER FINANCING SOURCES (USES)
Transfers in 368,195 3,478,518
Transfers (out) - (1,604,942)
Total Other Financing Sources (Uses) 368,195 1,873,576
NET CHANGE IN FUND BALANCES - 7,470,676
BEGINNING FUND BALANCES 3,051 43,194,979
ENDING FUND BALANCES $ 3,051 $ 50,665,655
135

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 227,728 $ 227,728 $ 227,728 $ - Resources (Inflows)
Intergovernmental 10,395 63,500 40,499 (23,001)
Investment income - - 524 524
Amounts Available for Appropriations 238,123 291,228 268,751 (22,477) Charges to Appropriation (Outflow)
Community services 10,395 15,500 31,276 (15,776)
Total Charges to Appropriations 10,395 15,500 31,276 (15,776) Fund Balance, June 30 $ 275,728 227,728 $ 237,475 $ (38,253) $

CITY OF EMERYVILLE
Budget Amounts

HOUSING COMMUNITY DEVELOPMENT SPECIAL REVENUE FUND
136

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 848,159 $ 848,159 $ 848,159 $ - Resources (Inflows)
Investment income 50,000 41,379 57,178 15,799
Miscellaneous - 116,224 144,411 28,187
Amounts Available for Appropriations 898,159 1,005,762 1,049,748 43,986 Fund Balance, June 30 $ 898,159 $ 1,005,762 $ 1,049,748 $ 43,986

CITY OF EMERYVILLE

CAL - HOME LOAN PROGRAM SPECIAL REVENUE FUND
Budget Amounts
137

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 91,907 $ 91,907 $ 91,907 $ - Resources (Inflows)
Investment income - - 130 130
Amounts Available for Appropriations 91,907 91,907 92,037 130 Charges to Appropriation (Outflow)
Police 32,000 32,000 32,000 -
Total Charges to Appropriations 32,000 32,000 32,000 -
Fund Balance, June 30 $ 59,907 $ 59,907 $ 60,037 $ 130

CITY OF EMERYVILLE

POLICE IMPOUND SPECIAL REVENUE FUND
Budget Amounts
138

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 12,377 $ 12,377 $ 12,377 $ - Resources (Inflows)
Investment income - - 28 28
Amounts Available for Appropriations 12,377 12,377 12,405 28 Charges to Appropriation (Outflow)
Capital outlay 2,978 2,978 - 2,978
Total Charges to Appropriations 2,978 2,978 - 2,978
Fund Balance, June 30 $ 9,399 9,399 $ 12,405 $ 3,006 $

CITY OF EMERYVILLE

CATELLUS CONTINGENT SPECIAL REVENUE FUND
Budget Amounts
139

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 111,880 $ 111,880 $ 111,880 $ - Resources (Inflows)
Intergovernmental 307,125 307,125 300,288 (6,837)
Investment income - - 411 411
Amounts Available for Appropriations 419,005 419,005 412,579 (6,426) Charges to Appropriations (Outflows)
Public works 285,000 260,000 288,227 (3,227)
Capital outlay 150,000 175,000 - 150,000
Total Charges to Appropriations 435,000 435,000 288,227 146,773 Fund Balance, June 30 $ (15,995) $ (15,995) $ 124,352 $ 140,347

CITY OF EMERYVILLE

SPECIAL GAS TAX STREET IMPROVEMENT SPECIAL REVENUE FUND Budget Amounts
140

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 3,572,360 3,572,360$ $ 3,572,360 $ - Resources (Inflows)
Licenses and permits 483,195 483,195 1,257,611 774,416
Investment income 13,288 13,288 8,635 (4,653)
Amounts Available for Appropriations 4,068,843 4,068,843 4,838,606 769,763 Charges to Appropriations (Outflows)
Planning and building and economic development and housing 995,833 1,102,670 801,367 301,303 Capital outlay 137,767 137,767 - 137,767
Transfers out 10,000 10,000 10,000 -
Total Charges to Appropriations 1,143,600 1,250,437 811,367 439,070 Fund Balance, June 30 $ 2,925,243 2,818,406$ $ 4,027,239 $ 1,208,833

CITY OF EMERYVILLE

GENERAL PLAN MAINTENANCE SPECIAL REVENUE FUND
Budget Amounts
141

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 403,986 $ 403,986 $ 403,986 $ - Resources (Inflows)
Intergovernmental 179,700 212,704 274,238 61,534
Charges for services 1,220,000 812,690 802,325 (10,365) Investment income - - 1,101 1,101
Miscellaneous 300 - 240 240
Transfers in 1,500,000 1,364,389 1,297,229 (67,160)
Amounts Available for Appropriations 3,303,986 2,793,769 2,779,119 (14,650) Charges to Appropriations (Outflows)
Child development 2,612,137 2,156,688 2,142,038 14,650
Transfers out - 233,094 233,094 -
Total Charges to Appropriations 2,612,137 2,389,782 2,375,132 14,650 Fund Balance, June 30 $ 691,849 $ 403,987 $ 403,987 $ -

CITY OF EMERYVILLE

CHILD DEVELOPMENT SPECIAL REVENUE FUND
Budget Amounts
142

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 661,893 $ 661,893 $ 661,893 $ - Resources (Inflows)
Taxes 229,772 229,772 283,382 53,610
Intergovernmental 60,284 60,284 68,796 8,512
Charges for services - - 1,906 1,906
Investment income 3,800 3,800 1,779 (2,021)
Amounts Available for Appropriations 955,749 955,749 1,017,756 62,007 Charges to Appropriations (Outflows)
Community services 61,362 25,718 42,420 18,942
Public works 13,124 13,124 17,509 (4,385)
Capital outlay 584,603 584,603 36,425 548,178
Transfers out - 61,187 61,187 -
Total Charges to Appropriations 623,445 720,276 157,541 562,735 Fund Balance, June 30 $ 332,304 $ 235,473 $ 860,215 $ 624,742

CITY OF EMERYVILLE

MEASURE B SPECIAL REVENUE FUND
Budget Amounts
143

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 695,946 $ 695,946 $ 695,946 $ - Resources (Inflows)
Taxes 294,102 294,102 447,455 153,353
Intergovernmental 63,128 138,128 178,952 40,824
Investment income - - 1,948 1,948
Amounts Available for Appropriations 1,053,176 1,128,176 1,324,301 196,125 Charges to Appropriations (Outflows)
Community services 41,756 41,756 25,464 16,292
Public works 16,947 19,447 23,392 (3,945)
Capital outlay 696,493 696,493 5,170 691,323
Total Charges to Appropriations 755,196 757,696 54,026 703,670 Fund Balance, June 30 $ 297,980 $ 370,480 $ 1,270,275 $ 899,795

CITY OF EMERYVILLE

MEASURE BB SPECIAL REVENUE FUND
Budget Amounts
144

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 1,160,658 $ 1,160,658 $ 1,160,658 $ - Resources (Inflows)
Licenses and permits 347,625 347,625 337,659 (9,966)
Investment income 15,000 5,000 3,134 (1,866)
Amounts Available for Appropriations 1,523,283 1,513,283 1,501,451 (11,832) Charges to Appropriation (Outflow)
Public Works 1,125,271 1,125,271 997 1,124,274
Total Charges to Appropriations 1,125,271 1,125,271 997 1,124,274 Fund Balance, June 30 $ 398,012 $ 388,012 $ 1,500,454 $ 1,112,442

CITY OF EMERYVILLE

TRANSPORTATION IMPACT FEE SPECIAL REVENUE FUND
Budget Amounts
145

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 970,470 $ 970,470 $ 970,470 $ - Resources (Inflows)
Licenses and permits 50,000 50,000 73,689 23,689
Investment income 5,000 5,000 2,177 (2,823)
Amounts Available for Appropriations 1,025,470 1,025,470 1,046,336 20,866 Charges to Appropriation (Outflow)
Capital outlay - - 322 (322)
Total Charges to Appropriations - - 322 (322)
Fund Balance, June 30 $ 1,025,470 1,025,470 $ 1,046,014 $ 20,544 $

CITY OF EMERYVILLE

PARK / REC IMPACT FEE SPECIAL REVENUE FUND
Budget Amounts
146

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 726,870 $ 726,870 $ 726,870 $ - Resources (Inflows)
Licenses and permits 25,000 25,000 132,094 107,094
Investment income 5,000 5,000 1,751 (3,249)
Amounts Available for Appropriations 756,870 756,870 860,715 103,845 Charges to Appropriation (Outflow)
Capital outlay 300,000 300,000 - 300,000
Total Charges to Appropriations 300,000 300,000 - 300,000 Fund Balance, June 30 $ 456,870 $ 456,870 $ 860,715 $ 403,845

CITY OF EMERYVILLE

AFFORDABLE HOUSING IMPACT FEE SPECIAL REVENUE FUND
Budget Amounts
147

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 80,124 $ 80,124 $ 80,124 $ - Resources (Inflows)
Intergovernmental 100,000 100,000 161,285 61,285
Investment income - 15 110 95
Amounts Available for Appropriations 180,124 180,139 241,519 61,380 Charges to Appropriation (Outflow)
Police 155,500 100,000 155,406 94
Total Charges to Appropriations 100,000 155,500 155,406 94 Fund Balance, June 30 $ 80,124 $ 24,639 $ 86,113 $ 61,474

CITY OF EMERYVILLE

SUPPLEMENTAL LAW ENFORCEMENT SPECIAL REVENUE FUND
Budget Amounts
148

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 698 $ 698 $ 698 $ -
Resources (Inflows)
Taxes 192,000 192,000 212,719 20,719
Miscellaneous 100 100 247 147
Amounts Available for Appropriations 192,798 192,798 213,664 20,866 Charges to Appropriation (Outflow)
Fire 191,500 191,500 213,241 (21,741)
Total Charges to Appropriations 191,500 191,500 213,241 (21,741) Fund Balance, June 30 $ 1,298 1,298 $ 423 $ (875) $

CITY OF EMERYVILLE

EMERGENCY MEDICAL SERVICES SPECIAL REVENUE FUND
Budget Amounts
149

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 11,236 11,236 $ 11,236 $ - $ Resources (Inflows)
Intergovernmental 5,000 5,000 4,859 (141)
Investment income - - 67 67
Amounts Available for Appropriations 16,236 16,162 16,236 (74) Charges to Appropriation (Outflow)
Public works 5,000 5,000 4,859 141
Total Charges to Appropriations 5,000 5,000 4,859 141
Fund Balance, June 30 $ 11,236 $ 11,236 $ 11,303 $ 67

CITY OF EMERYVILLE

RECYCLING / SOURCE REDUCTION SPECIAL REVENUE FUND
Budget Amounts
150

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 47,395 $ 47,395 $ 47,395 $ - Resources (Inflows)
Investment income - - 125 125
Miscellaneous 34,000 34,000 46,196 12,196
Amounts Available for Appropriations 81,395 81,395 93,716 12,321 Charges to Appropriation (Outflow)
Public works 25,000 25,000 25,000 -
Total Charges to Appropriations 25,000 25,000 25,000 -
Fund Balance, June 30 $ 56,395 $ 56,395 $ 68,716 $ 12,321

CITY OF EMERYVILLE

MEASURE D SPECIAL REVENUE FUND
Budget Amounts
151

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 1,406,291 $ 1,406,291 $ 1,406,291 $ - Resources (Inflows)
Taxes 150,000 150,000 148,924 (1,076)
Investment income 10,000 10,000 5,066 (4,934)
Miscellaneous 15,000 15,000 94,742 79,742
Amounts Available for Appropriations 1,581,291 1,581,291 1,655,023 73,732 Charges to Appropriations (Outflows)
Economic development and housing 147,200 147,200 84,228 62,972 Capital outlay 229,935 229,935 70,805 159,130
Total Charges to Appropriations 377,135 377,135 155,033 222,102 Fund Balance, June 30 $ 1,204,156 $ 1,204,156 $ 1,499,990 $ 295,834

CITY OF EMERYVILLE

EMERYVILLE PUBLIC ART SPECIAL REVENUE FUND
Budget Amounts
152

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 2,899,548 $ 2,899,548 $ 2,899,548 $ - Resources (Inflows)
Investment income 500 500 2,274 1,774
Miscellaneous 458,639 582,078 523,217 (58,861)
Transfers in - 1,000,000 1,000,000 -
Amounts Available for Appropriations 3,358,687 4,482,126 4,425,039 (57,087) Charges to Appropriation (Outflow)
Information technology 484,139 483,782 506,266 (22,127) Capital outlay 1,023,311 1,023,311 21,690 1,001,621
Total Charges to Appropriations 1,507,450 1,507,093 527,956 979,494 Fund Balance, June 30 $ 2,974,676 1,851,594 $ 3,897,083 $ 922,407 $

CITY OF EMERYVILLE

INFORMATION TECHNOLOGY SPECIAL REVENUE FUND
Budget Amounts
153

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 9,983 9,983 $ 9,983 $ - $ Resources (Inflows)
Taxes 1,000 1,000 632 (368)
Investment income 75 75 23 (52)
Amounts Available for Appropriations 11,058 10,638 11,058 (420) Fund Balance, June 30 $ 11,058 11,058 $ 10,638 $ (420) $

CITY OF EMERYVILLE

PEG PROGRAM SPECIAL REVENUE FUND
Budget Amounts
154

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 66,748 66,748 $ 66,748 $ - $ Resources (Inflows)
Investment income 1,500 1,500 674 (826)
Miscellaneous - - 850 850
Amounts Available for Appropriations 68,248 68,272 68,248 24 Charges to Appropriation (Outflow)
Capital outlay 2,715 2,715 - 2,715
Total Charges to Appropriations 2,715 2,715 - 2,715
Fund Balance, June 30 $ 65,533 $ 65,533 $ 68,272 $ 2,739

CITY OF EMERYVILLE

URBAN FORESTRY FEE SPECIAL REVENUE FUND
Budget Amounts
155

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 6,353,416 $ 6,353,416 $ 6,353,416 $ - Resources (Inflows)
Taxes 1,200,000 1,200,000 1,191,393 (8,607)
Investment income - - 13,844 13,844
Miscellaneous - 312,430 314,129 1,699
Amounts Available for Appropriations 7,553,416 7,865,846 7,872,782 6,936 Charges to Appropriation (Outflow)
Economic development and housing 823,852 823,852 385,171 438,681 Capital outlay 3,390,038 3,077,608 415,297 2,974,741
Total Charges to Appropriations 3,901,460 4,213,890 800,468 3,413,422 Fund Balance, June 30 $ 3,651,956 $ 3,651,956 $ 7,072,314 $ 3,420,358

CITY OF EMERYVILLE

AFFORDABLE HOUSING SPECIAL REVENUE FUND
Budget Amounts
156

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 92,027 $ 92,027 $ 92,027 $ - Resources (Inflows)
Intergovernmental 22,000 22,000 44,233 22,233
Investment income - - 231 231
Amounts Available for Appropriations 114,027 114,027 136,491 22,464 Charges to Appropriation (Outflow)
Public works 26,000 26,000 8,943 17,057
Total Charges to Appropriations 26,000 26,000 8,943 17,057 Fund Balance, June 30 $ 88,027 $ 88,027 $ 127,548 $ 39,521

CITY OF EMERYVILLE

ENVIRONMENTAL PROGRAM SPECIAL REVENUE FUND
Budget Amounts
157

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 534,240 534,240 $ 534,240 $ - $ Resources (Inflows)
Intergovernmental 232,289 232,289 252,161 19,872
Investment income - - 1,217 1,217
Amounts Available for Appropriations 766,529 766,529 787,618 21,089 Charges to Appropriations (Outflows)
Public works - - 5,471 (5,471)
Capital outlay 654,021 654,021 157,114 496,907
Total Charges to Appropriations 654,021 654,021 162,585 491,436 Fund Balance, June 30 $ 112,508 $ 112,508 $ 625,033 $ 512,525

CITY OF EMERYVILLE

ROAD MAINTENANCE & REHABILITATION SPECIAL REVENUE FUND
Budget Amounts
158

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 61,527 $ 61,527 $ 61,527 $ - Resources (Inflows)
Intergovernmental 44,653 44,653 48,965 4,312
Investment income - - 182 182
Amounts Available for Appropriations 106,180 106,180 110,674 4,494 Charges to Appropriations (Outflows)
Public works 3,234 3,234 3,125 109
Capital outlay 50,000 50,000 - 50,000
Total Charges to Appropriations 53,234 53,234 3,125 50,109 Fund Balance, June 30 $ 52,946 $ 52,946 $ 107,549 $ 54,603

CITY OF EMERYVILLE

MEASURE B - VRF SPECIAL REVENUE FUND
Budget Amounts
159

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 627,277 $ 627,277 $ 627,277 $ - Resources (Inflows)
Taxes 1,500,000 2,000,000 2,643,157 643,157
Investment income - 150 2,330 2,180
Transfer in - 233,094 233,094 -
Amounts Available for Appropriations 2,127,277 2,860,521 3,505,858 645,337 Charges to Appropriations (Outflows)
General governmental-non-departmental operations - 7,500 3,734 3,766 Transfers out 1,500,000 1,500,000 1,297,229 202,771
Total Charges to Appropriations 1,500,000 1,507,500 1,300,963 206,537 Fund Balance, June 30 $ 627,277 $ 1,353,021 $ 2,204,895 $ 851,874

CITY OF EMERYVILLE

MEASURE F SPECIAL REVENUE FUND
Budget Amounts
160

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 239,829 $ 239,829 $ 239,829 $ - Resources (Inflows)
Charges for services 223,200 223,200 413,096 189,896
Licenses and permits - - 507 507
Investment income - - 1,484 1,484
Transfers in 555,000 555,000 555,000 -
Amounts Available for Appropriations 1,018,029 1,018,029 1,209,916 191,887 Charges to Appropriations (Outflows)
Police 456,118 431,340 289,098 167,020
Economic development and housing 332,289 345,316 218,327 113,962 Total Charges to Appropriations 776,656 788,407 507,425 280,982 Fund Balance, June 30 $ 241,373 $ 229,622 $ 702,491 $ 472,869

CITY OF EMERYVILLE

PARKING PROGRAM SPECIAL REVENUE FUND
Budget Amounts
161

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 47,712,816 $ 47,712,816 $ 47,712,816 $ - Resources (Inflows)
Taxes 1,914,140 1,914,140 2,023,141 109,001
Investment income 100,000 100,000 100,017 17
Amounts Available for Appropriations 49,726,956 49,726,956 49,835,974 109,018 Charges to Appropriations (Outflows)
General government-non-departmental operations 311,000 311,000 333,397 (22,397) Public works 687,467 687,467 477,485 209,982
Capital outlay 25,136,841 25,136,841 1,909,169 23,227,672 Transfers out 555,000 555,000 555,000 -
Total Charges to Appropriations 26,690,308 26,690,308 3,275,051 23,415,257 Fund Balance, June 30 $ 23,036,648 $ 23,036,648 $ 46,560,923 $ 23,524,275

CITY OF EMERYVILLE

GENERAL CAPITAL IMPROVEMENTS CAPITAL PROJECTS FUND
Budget Amounts
162

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 87,410 $ 87,410 $ 87,410 $ - Resources (Inflows)
Investment income 500 500 180 (320)
Amounts Available for Appropriations 87,910 87,910 87,590 (320) Charges to Appropriation (Outflow)
Capital outlay 105,910 105,910 30,397 75,513
Total Charges to Appropriations 105,910 105,910 30,397 75,513 Fund Balance, June 30 $ (18,000) $ (18,000) $ 57,193 $ 75,193

CITY OF EMERYVILLE
1999 REVENUE BOND CAPITAL PROJECTS FUND
Budget Amounts
163

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 5,212,993 $ 5,212,993 $ 5,212,993 $ - Resources (Inflows)
Taxes 28,100 28,100 - (28,100)
Investment income 20,000 20,000 11,537 (8,463)
Rental income 460,000 460,000 458,924 (1,076)
Amounts Available for Appropriations 5,721,093 5,721,093 5,683,454 (37,639) Charges to Appropriation (Outflow)
Public works 340,777 340,777 219,461 121,316
Capital outlay 5,339,408 5,174,408 27,358 5,312,050
Total Charges to Appropriations 5,515,185 5,680,185 246,819 5,433,366 Fund Balance, June 30 $ 205,908 $ 40,908 $ 5,436,635 $ 5,395,727

CITY OF EMERYVILLE

MARINA IMPROVEMENT CAPITAL PROJECTS FUND
Budget Amounts
164

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 496,499 $ 496,499 $ 496,499 $ - Resources (Inflows)
Investment income - - 1,106 1,106
Transfers in 25,000 25,000 25,000 -
Amounts Available for Appropriations 521,499 521,499 522,605 1,106 Charges to Appropriation (Outflow)
Capital outlay 36,000 36,000 - 36,000
Total Charges to Appropriations 36,000 36,000 - 36,000
Fund Balance, June 30 $ 485,499 $ 485,499 $ 522,605 $ 37,106

CITY OF EMERYVILLE

EMERYVILLE CENTER OF COMMUNITY LIFE CAPITAL PROJECTS FUND Budget Amounts
165

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 4,154,616 $ 4,154,616 $ 4,154,616 $ - Resources (Inflows)
Investment income - - 8,940 8,940
Amounts Available for Appropriations 4,154,616 4,154,616 4,163,556 8,940 Charges to Appropriation (Outflow)
Capital outlay 3,800,000 3,800,000 - 3,800,000
Total Charges to Appropriations 3,800,000 3,800,000 - 3,800,000 Fund Balance, June 30 $ 354,616 $ 354,616 $ 4,163,556 $ 3,808,940

CITY OF EMERYVILLE
IMPLEMENTATION PLAN 2010-14 CAPITAL PROJECTS FUND
Budget Amounts
166

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 407,524 $ 407,524 $ 407,524 $ - Resources (Inflows)
Investment income 1,600 1,600 877 (723)
Amounts Available for Appropriations 409,124 409,124 408,401 (723) Charges to Appropriation (Outflow)
Capital outlay 209,000 209,000 - 209,000
Total Charges to Appropriations 209,000 209,000 - 209,000 Fund Balance, June 30 $ 200,124 $ 200,124 $ 408,401 $ 208,277

CITY OF EMERYVILLE

PEDESTRIAN PATH IMPROVEMENT CAPITAL PROJECTS FUND
Budget Amounts
167

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 5,218,032 $ 5,218,032 $ 5,218,032 $ - Resources (Inflows)
Miscellaneous 1,111,175 1,265,175 1,302,976 37,801
Amounts Available for Appropriations 6,329,207 6,483,207 6,521,008 37,801 Charges to Appropriations (Outflows)
General government-non-departmental operations 756,000 910,000 531,291 378,709 Capital outlay 5,039,972 5,039,972 31,450 5,008,522
Total Charges to Appropriations 5,949,972 5,795,972 562,741 5,387,231 Fund Balance, June 30 $ 533,235 533,235 $ 5,958,267 $ 5,425,032 $

CITY OF EMERYVILLE

MAJOR MAINTENANCE CAPITAL PROJECTS FUND
Budget Amounts
168

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 3,698,617 $ 3,698,617 $ 3,698,617 $ - Resources (Inflows)
Miscellaneous 436,500 436,500 480,210 43,710
Amounts Available for Appropriations 4,135,117 4,135,117 4,178,827 43,710 Charges to Appropriations (Outflows)
Capital outlay 1,222,320 1,222,320 760 1,221,560
Transfers out - 3,432 3,432 -
Total Charges to Appropriations 1,222,320 1,225,752 4,192 1,221,560 Fund Balance, June 30 $ 2,912,797 $ 2,909,365 $ 4,174,635 $ 1,265,270

CITY OF EMERYVILLE

VEHICLE REPLACEMENT CAPITAL PROJECTS FUND
Budget Amounts
169

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 3,672,959 $ 3,672,959 $ 3,672,959 $ - Resources (Inflows)
Investment income 40,000 40,000 3,836 (36,164)
Amounts Available for Appropriations 3,712,959 3,712,959 3,676,795 (36,164) Charges to Appropriation (Outflow)
Capital outlay 4,021,337 4,021,337 2,381,357 1,639,980
Total Charges to Appropriations 4,021,337 4,021,337 2,381,357 1,639,980 Fund Balance, June 30 $ (308,378) $ (308,378) $ 1,295,438 $ 1,603,816

CITY OF EMERYVILLE

RDA BOND CAPITAL PROJECTS FUND
Budget Amounts
170

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 1,681,338 $ 1,681,338 $ 1,681,338 $ - Resources (Inflows)
Investment income - - 3,674 3,674
Miscellaneous 55,000 55,000 - (55,000)
Amounts Available for Appropriations 1,736,338 1,736,338 1,685,012 (51,326) Charges to Appropriation (Outflow)
Capital outlay 1,578,776 1,578,776 - 1,578,776
Total Charges to Appropriations 1,578,776 1,578,776 - 1,578,776 Fund Balance, June 30 $ 157,562 $ 157,562 $ 1,685,012 $ 1,527,450

CITY OF EMERYVILLE

DEVELOPER CONTRIBUTIONS CAPITAL PROJECTS FUND
Budget Amounts
171

BUDGETARY COMPARISON SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2022
Variance with
Final Budget
Positive
Original Budget Final Budget Actual (Negative)
Budgetary Fund Balance, July 1 $ 3,051 $ 3,051 $ 3,051 $ - Resources (Inflows)
Transfers in 368,500 368,500 368,195 (305)
Amounts Available for Appropriations 371,551 371,551 371,246 (305) Charges to Appropriations (Outflows)
Debt service:

Principal retirement 299,200 299,200 299,200 -
Interest and fiscal charges 69,300 69,300 68,995 305
Total Charges to Appropriations 368,500 368,195 368,500 305 Fund Balance, June 30 $ 3,051 3,051 $ 3,051 $ - $

CITY OF EMERYVILLE
1998 LEASE REVENUE SERIES A BOND DEBT SERVICE FUND
Budget Amounts
172

CITY OF EMERYVILLE

INTERNAL SERVICE FUNDS
Internal Service Funds are used to account for the financing of goods and services provided by one department or agency to other departments or agencies on a cost-sharing basis.

The Litigation Fund accounts for all litigation expenses of the City and the Community Development Commission of Emeryville except for activity specifically associated with a Capital Improvement Project.

The fund is supported by interfund transfers from the General Fund, the Sewer Fund and, when appropriate, the Commission.

The MESA Fund accounts for activities of the Management of Emeryville Services Authority.

The Workers’ Compensation Self-Insurance Fund pays for the City’s Workers’ Compensation Program, under which the City is self-insured for the first $350,000 of each claim. The fund is supported through premium rates charged to departmental budgets on each covered employee.

The Dental Self-Insurance Fund pays for dental coverage provided to City employees. The fund is supported through premium rates charged to departmental budgets based on employees covered. The SelfInsurance Fund pays monthly claims for active and retired employees plus an administrative surcharge.

The Unemployment Self-Insurance Fund pays for required unemployment premiums. The fund is supported through premium rates charged to departmental budgets on each covered employee.

The Accrued Benefits Fund was established to support the City’s unfunded liability for accrued leave buyouts paid to City employees upon separation of service. These leaves include accrued sick leave, vacation leave and compensatory time. The fund is supported by interdepartmental payroll changes.

The Post-Employment Fund accounts for the City’s retiree medical, dental and vision benefits. 173

CITY OF EMERYVILLE

INTERNAL SERVICE FUNDS

COMBINING STATEMENT OF NET POSITION
JUNE 30, 2022
Litigation MESA
Workers'
Compensation SelfInsurance
ASSETS:

Current Assets:

Cash and investments $ 2,069,898 $ - $ 5,953,962
Receivables:

Accounts - - -
Accrued interest - 1,542 4,316
Prepaid costs - - -
Total Assets 2,071,440 - 5,958,278
LIABILITIES:

Current Liabilities:

Accounts payable 3,766 - 51,230
Deposits payable - - -
Compensated absences - - -
Claims and judgements 20,198 - 688,688
Total Current Liabilities 23,964 - 739,918
Noncurrent Liabilities:

Compensated absences - - -
Claims and judgements 30,297 - 2,269,312
Total Noncurrent Liabilities 30,297 - 2,269,312
Total Liabilities 54,261 - 3,009,230
NET POSITION (DEFICIT):

Unrestricted - 2,017,179 2,949,048
Total Net Position (Deficit) $ 2,017,179 $ - $ 2,949,048 174
Dental Self
Insurance
Unemployment
Insurance Accrued Benefits Post-Employment Total
$ 15,387 $ 155,089 $ 2,898,228 $ 7,311,637 $ 18,404,201 - - - 10,533 10,533
(3) 102 2,129 5,410 13,496
- - - 1,889 1,889
15,384 155,191 2,900,357 7,329,469 18,430,119
14,692 - - - 69,688
- - - 1,111 1,111
- - 1,651,891 - 1,651,891
- - - - 708,886
14,692 - 1,651,891 1,111 2,431,576
- - 1,463,995 - 1,463,995
- - - - 2,299,609
- - 1,463,995 - 3,763,604
14,692 - 3,115,886 1,111 6,195,180
692 155,191 (215,529) 7,328,358 12,234,939
$ 692 $ 155,191 $ (215,529) $ 7,328,358 $ 12,234,939
175

CITY OF EMERYVILLE

INTERNAL SERVICE FUNDS

COMBINING STATEMENTS OF REVENUES, EXPENSES AND

CHANGES IN FUND NET POSITION
FOR THE YEAR ENDED JUNE 30, 2022
Litigation MESA
Workers'
Compensation SelfInsurance
OPERATING REVENUES:

Charges for services $ - $ 13,570,326 $ 948,906
Intergovernmental - - -
Total Operating Revenues - 13,570,326 948,906
OPERATING EXPENSES:

Administration and general - 13,570,326 352,315
Claim expense 79,485 - 44,459
Total Operating Expenses 79,485 13,570,326 396,774
Operating Income (Loss) (79,485) - 552,132
NONOPERATING REVENUES (EXPENSES):

Investment income 4,514 - 12,289
Total Nonoperating Revenues (Expenses) 4,514 - 12,289
Income (Loss) (74,971) - 564,421
CHANGE IN NET POSITION (74,971) - 564,421
BEGINNING NET POSITION (DEFICIT) 2,092,150 - 2,384,627
ENDING NET POSITION (DEFICIT) $ 2,017,179 $ - $ 2,949,048 176
Dental Self Insurance
Unemployment
Insurance Accrued Benefits Post-Employment Total
$ 205,107 $ 83,117 $ 410,198 $ 243,292 $ 15,460,946
- 10,753 - - 10,753
205,107 93,870 410,198 243,292 15,471,699
28,207 - 278,892 238,901 14,468,641
190,917 24,414 - - 339,275
219,124 24,414 278,892 238,901 14,807,916
(14,017) 69,456 131,306 4,391 663,783
17 276 6,103 15,718 38,917
17 276 6,103 15,718 38,917
(14,000) 69,732 137,409 20,109 702,700
(14,000) 69,732 137,409 20,109 702,700
14,692 85,459 (352,938) 7,308,249 11,532,239
$ 692 $ 155,191 $ (215,529) $ 7,328,358 $ 12,234,939
177

CITY OF EMERYVILLE

INTERNAL SERVICE FUNDS

COMBINING STATEMENTS OF CASH FLOW
FOR THE YEAR ENDED JUNE 30, 2022
Litigation MESA
Workers'
Compensation
Self-Insurance
CASH FLOWS FROM OPERATING ACTIVITIES:

Receipts from customers and users $ 13,570,326 - $ $ 948,906 Payments to suppliers and providers (8,071) - (343,941) Payments to employees for salaries and benefits - (13,570,326) - Payments for claims (87,721) - (424,459)
Cash Flows from Operating Activities (95,792) - 180,506 CASH FLOWS FROM INVESTING ACTIVITIES:

Interest on cash and cash investments 3,727 - 9,937
Cash Flows from Investing Activities 3,727 - 9,937
Net increase (decrease) in cash and cash equivalents (92,065) - 190,443 Cash and cash equivalents at beginning of period - 5,763,519 2,161,963 Cash and cash equivalents at end of period $ 2,069,898 $ 5,953,962 - $ Reconciliation of operating income (loss) to net cash provided by operating activities:

Operating income (loss) $ (79,485) $ - $ 552,132
Adjustments to reconcile operating income to net cash provided by operating activities:

Decrease in accounts receivable - - -
(Decrease) increase in accounts payable (8,071) - 8,374 Increase in deposits payable - - -
Increase in compensated absences - - -
(Decrease) in claims and judgments (8,236) - (380,000)
Cash Flows from Operating Activities $ (95,792) $ - $ 180,506 178
Dental Self-Insurance
Unemployment
Insurance Accrued Benefits Post-Employment Total
$ 205,107 $ 88,569 $ 410,198 $ 245,568 $ 15,468,674
(26,576) - - (237,790) (616,378)
- - (243,613) - (13,813,939)
(190,917) (24,414) - - (727,511)
(12,386) 64,155 166,585 7,778 310,846
24 204 4,937 8,295 27,124
24 204 4,937 8,295 27,124
(12,362) 64,359 171,522 16,073 337,970
27,749 90,730 2,726,706 7,295,564 18,066,231
$ 15,387 $ 155,089 $ 2,898,228 $ 7,311,637 $ 18,404,201 $ (14,017) $ 69,456 $ 131,306 $ 4,391 $ 663,783
- - - 2,276 2,276
1,631 (5,301) - - (3,367)
- - - 1,111 1,111
- - 35,279 - 35,279
- - - - (388,236)
$ (12,386) $ 64,155 $ 166,585 $ 7,778 $ 310,846
179
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CITY OF EMERYVILLE

CUSTODIAL FUNDS
The 1999 Revenue Bonds Fund and Assessment District Funds (East Baybridge and Bay Shellmound) account for the receipt of special assessments and the payment of principal, interest, and bond administration costs on Assessment District Bonds. These funds are treated as Custodial Funds because the City is not liable for their bond repayments.
181

CITY OF EMERYVILLE

CUSTODIAL FUNDS

COMBINING STATEMENT OF FIDUCIARY NET POSITION
JUNE 30, 2022
East Baybridge Bay Shellmound Total
1999 Revenue Assessment Assessment Custodial
Bonds District District Funds
ASSETS:

Cash and investments - $ 77,259 $ $1,067,768 1,145,027 $ Receivables:

Accrued interest - 57 789 846
Total Assets - 77,316 1,068,557 1,145,873

NET POSITION
Restricted for bondholders - 77,316 1,068,557 1,145,873 Total Net Position $ 77,316 - $ $ 1,068,557 $ 1,145,873 182

CITY OF EMERYVILLE

CUSTODIAL FUNDS

COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FOR THE YEAR ENDED JUNE 30, 2022
East Baybridge Bay Shellmound Total
1999 Revenue Assessment Assessment Custodial
Bonds District District Funds
ADDITIONS:

Special assessments $ 51,168 - $ $ 51,168 - $
Investment income - 170 2,296 2,466
Total Additions - 51,338 2,296 53,634
DEDUCTIONS:

Administrative expenses - - - -
Contractual services - 750 750 1,500
Payments to bondholders 562,088 14,117 - 576,205
Total Deductions 562,088 14,867 750 577,705
Net change in position (562,088) 36,471 1,546 (524,071) Net position - beginning 562,088 40,845 1,067,011 1,669,944 Net position - ending $ - $ 77,316 $ 1,068,557 $ 1,145,873 183
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CITY OF EMERYVILLE

PRIVATE-PURPOSE TRUST FUNDS
The Private-Purpose Trust Funds are used to account for the assets and liabilities of the Successor Agency of the former Redevelopment Agency per the Redevelopment dissolution laws AB 1X 26 and AB 1484.

The funds receive revenue to pay estimated installment payments of the enforceable obligations until obligations of the former Redevelopment Agency are paid in full and assets have been liquidated.

The RDA Retirement Fund accounts for the redevelopment property tax trust fund (RPTTF) revenues allocated to the Successor Agency to pay for approved recognized obligations of the former redevelopment agency. During fiscal year 2015, most of the other redevelopment project funds have been consolidated into this fund to complete the process of winding down the Agency.

The 2014A Debt Service Fund receives transfers from the RDA Retirement Fund and accounts for payments of principal and interest on the Tax Allocation Refunding Bonds Series 2014A.

The 2014B Debt Service Fund receives transfers from the RDA Retirement Fund and accounts for payments of principal and interest on the Tax Allocation Refunding Bonds Series 2014B. 185

CITY OF EMERYVILLE

PRIVATE-PURPOSE TRUST FUNDS

COMBINING STATEMENT OF NET POSITION
JUNE 30, 2022
Total Private2014A Debt 2014B Debt Purpose Trust
RDA Retirement Service Service Funds
ASSETS:

Cash and investments $ 8,230,786 $ - $ 8,230,786 - $
Cash and investments with fiscal agents - 8,745,160 1,191,211 9,936,371 Receivables:

Accounts 221 - - 221
Accrued interest 12,018 - - 12,018
Loans receivable 11,742,854 - - 11,742,854
Prepaid costs - 300,705 39,757 340,462
Land held for resale 24,818,694 - - 24,818,694
Capital assets:

Capital assets, not being depreciated 11,333,991 - - 11,333,991 Total Assets 56,138,564 9,045,865 1,230,968 66,415,397
LIABILITIES:

Accounts payable 1,897,525 - - 1,897,525
Accrued interest - 895,250 107,472 1,002,722
Long-term liabilities:

Bonds due in one year - 7,075,000 1,030,000 8,105,000
Pollution remediation obligations due in one year 50,000 - - 50,000 Bonds due in more than one year - 56,514,019 6,687,880 63,201,899 Pollution remediation obligation due
in more than one year 517,500 - - 517,500
Total Liabilities 2,465,025 64,484,269 7,825,352 74,774,646

NET POSITION HELD IN TRUST FOR
Held in trust for other purposes 53,673,539 (55,438,404) (6,594,384) (8,359,249) Total Net Position (Deficit) $ 53,673,539 $ (6,594,384) (55,438,404) $ $ (8,359,249)

PRIVATE PURPOSES
186

CITY OF EMERYVILLE

PRIVATE-PURPOSE TRUST FUNDS

COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FOR THE YEAR ENDED JUNE 30, 2022
Total Private2014A Debt 2014B Debt Purpose Trust
RDA Retirement Service Service Elimination Funds
ADDITIONS:

Taxes $ 15,220,660 $ - $ - $ 15,220,660 - $
Investment income 275,014 9,814 - - 284,828
Transfers in - 9,760,750 1,352,416 (11,113,166) -
Total Additions 15,495,674 9,770,564 1,352,416 (11,113,166) 15,505,488 DEDUCTIONS:

Administrative expenses 360,930 - - - 360,930
Contractual services 5,978,175 - - - 5,978,175
Interest expense - 2,005,896 336,853 - 2,342,749
Contributions to other governments 544,815 - - - 544,815 Transfers out 11,113,166 - - (11,113,166) -
Total Deductions 17,997,086 2,005,896 336,853 (11,113,166) 9,226,669 Net change in position (2,501,412) 7,764,668 1,015,563 - 6,278,819 Net position (deficit) - beginning 56,174,951 (63,203,072) (7,609,947) - (14,638,068) Net position (deficit) - ending $ 53,673,539 $ (55,438,404) $ (6,594,384) $ (8,359,249) - $ 187
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Contents
Financial Trends I - IV
These schedules contain trend information to help the reader understand how the city's financial performance and well-being have changed over time.

Revenue Capacity V - IX
These schedules contain information to help the reader assess the factors affecting the city's ability to generate its property and sales taxes.

Debt Capacity X - XIV
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.

Demographic and Economic Information XV - XVII
These schedules offer demographic and economic indicators to help the reader understand the environment within which the city's financial activities take place.

Operating Information XVIII - XIX
These schedules contain information about the city's operations and resources to help the reader understand how the city's financial information relates to the services the city provides and the activities it performs.

Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant year.

Statistical Section
This part of the City of Emeryville'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.

GASB issued Statement no. 44, Economic Condition Reporting; The Statistical Section - an amendment of NCGA Statement 1 . This statement amends the portions of NCGA Statement 1, Governmental Accounting and Financial Reporting Principles, that guide the preparation of the statistical section. The statistical section presents details information, typically in ten-year statements, and required supplementary information to assess the economic condition of a government. During fiscal year 2005-2006, the City implemented this statement and added new information that financial statement users have identified as important and eliminated certain schedules previously required.

Schedule
GASB issued Statement no. 54, Fund Balance Reporting and Governmental Fund Type Definitions .

This changed the reporting requirements for fund balances in the financial statements. The City implemented this statement effective fiscal year 2010-2011. 189
City of Emeryville
Statistical Section - Table I
Net Position by Component
Last Ten Fiscal Years
(accrual basis of accounting)
2013 2014 2015 2016
Governmental activities
Net investment in capital assets 70,942,145 $ 69,332,175 $ 70,686,033 $ 68,973,451 $ 1 Restricted 24,847,447 59,193,273 68,180,423 51,000,633
Unrestricted 91,803,642 85,724,838 70,585,332 65,389,801 2 Total governmental activities net position $ 187,593,234 $ 214,250,286 $ 209,451,788 $ 185,363,885 Business-type activities
Net investment in capital assets $ 5,621,688 $ 6,698,183 $ 8,199,483 $ 8,112,330 Restricted 4,061,654 4,120,256 1,393,732 2,063,866
Unrestricted 526,498 (332,233) 1,436,219 1,488,977
Total business-type activities net position $ 10,209,840 $ 10,486,206 $ 11,029,434 $ 11,665,173 Primary government
Net investment in capital assets $ 76,563,833 $ 76,030,358 $ 78,885,516 $ 77,085,781 Restricted 28,909,101 63,313,529 69,574,155 53,064,499
Unrestricted 92,330,140 85,392,605 72,021,551 66,878,778 Total primary government net position $ 197,803,074 $ 224,736,492 $ 220,481,222 $ 197,029,058 Notes:

1. Restated 2016 due to the reclassification of capital improvement project to the Successor Agency for property remediation payments.

2. Restated 2016 due to the reclassification of prior year unavailable revenues for notes and loans, operating contribution and grants. 190
2017 2018 2019 2020 2021 2022
$ 67,638,982 $ 69,236,908 $ 86,768,020 $ 94,116,338 $ 107,889,826 $ 110,589,119 60,752,375 90,047,586 94,720,674 56,084,907 49,200,357 51,421,948 65,636,489 38,781,480 46,880,616 88,435,683 91,861,373 100,133,727 $ 194,027,846 $ 198,065,974 $ 228,369,310 $ 238,636,928 $ 248,951,556 $ 262,144,794 $ 8,385,897 $ 8,199,975 $ 8,008,915 $ 7,817,855 $ 7,626,795 $ 7,898,736 2,024,388 2,641,903 2,343,339 2,756,937 7,179,901 7,616,796 1,775,733 1,733,373 2,694,264 3,741,587 - -
$ 12,186,018 $ 12,575,251 $ 13,046,518 $ 14,316,379 $ 14,806,696 $ 15,515,532 $ 76,024,879 $ 77,436,883 $ 94,776,935 $ 101,934,193 $ 115,516,621 $ 118,487,855 62,776,763 92,689,489 97,064,013 58,841,844 56,380,258 59,038,744 67,412,222 40,514,853 49,574,880 92,177,270 91,861,373 100,133,727 $ 206,213,864 $ 210,641,225 $ 241,415,828 $ 252,953,307 $ 263,758,252 $ 277,660,326 191
City of Emeryville
Statistical Section - Table II
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
2013 2014 2015 2016
Expenses
Governmental activities:

City council 135,680 $ 147,451 $ 176,050 $ 187,581 $
City manager 735,876 727,135 925,387 1,181,250
City attorney 611,437 563,063 561,181 416,252
Finance 927,811 877,587 934,110 897,179
Human resources 484,534 531,949 668,129 804,087
Information technology (1) 414,117 508,324 929,009 951,426 Non-departmental operations 6,112,564 2,706,578 2,691,552 4,016,297 Police 9,562,030 9,752,016 11,150,202 11,851,855
Fire 5,756,509 5,822,379 5,785,323 6,730,833
Plannning and building 2,029,904 2,813,429 2,956,040 4,163,311 Economic development and housing 851,573 985,197 3,347,980 20,356,084 Redevelopment 13,217 14,760 - 41,299
Property based improvement district 2,595,430 2,781,500 2,959,562 3,761,548 Community services 528,468 565,762 550,757 560,878
Child development 1,636,046 1,761,693 2,175,222 2,425,147 Youth services 690,136 749,982 1,013,719 1,239,033
Adult services 513,434 613,182 691,662 651,986
Public works 7,740,917 6,694,496 6,515,111 6,250,213
Interest on long-term debt 254,261 288,239 127,828 127,351 Total governmental activities expenses 41,593,944 38,904,722 44,158,824 66,613,610 Business-type activities:

Sewer 683,694 561,301 518,487 550,046
Total business-type activities expenses 683,694 561,301 518,487 550,046 Total primary government expenses $ 42,277,638 $ 39,466,023 $ 44,677,311 $ 67,163,656 Program Revenues
Governmental activities:

Charges for services:

General Government $ 3,201,642 $ 3,527,580 $ 4,848,345 $ 9,780,050 Public Safety 960,653 723,200 1,020,216 798,029
Redevelopment - - - 40,000
Property Based Improvement District 2,599,561 2,635,700 2,959,562 3,220,017 Child Development 1,082,712 1,153,904 2,175,222 1,087,616 Operating grants and contributions 7,444,528 1,600,076 4,016,627 3,472,039 Capital grants and contributions 462,268 22,662,691 20,926,547 2,763,083 Total governmental activities program revenues 15,751,364 32,303,151 35,946,519 21,160,834 Business-type activities:

Charges for services:

Sewer 1,164,788 823,223 1,189,759 845,356
Capital grants and contributions - - - 400,000
Total business-type activities program revenues 1,164,788 823,223 1,189,759 1,245,356 Total primary government program revenues $ 16,916,152 $ 33,126,374 $ 37,136,278 $ 22,406,190 (1) Information technology division previously reported in the Finance department. 192
2017 2018 2019 2020 2021 2022
$ 202,159 $ 222,581 $ 219,654 $ 205,422 $ 209,478 $ 197,243 1,408,437 1,392,176 1,137,782 1,170,384 1,115,048 934,960 585,501 534,354 600,453 622,553 648,922 607,030
1,144,663 1,093,976 1,118,840 1,353,480 1,114,110 974,606 888,463 790,400 728,794 764,058 771,678 772,882
1,135,305 1,205,716 1,174,675 1,507,232 1,386,556 1,320,056 3,792,532 3,275,291 3,779,538 3,760,939 3,200,319 3,612,909 13,087,370 13,518,734 14,009,706 16,129,575 16,437,792 13,098,319 7,763,651 8,134,164 8,895,473 10,041,674 9,508,535 9,864,213 3,149,159 3,047,003 4,284,383 3,525,039 4,021,359 5,139,274 1,256,037 5,975,087 1,254,963 3,435,320 2,122,080 2,292,520 146,400 135,711 97,523 99,971 - -
3,863,878 4,064,405 4,263,247 4,648,962 4,687,374 4,859,599 920,268 1,062,542 996,837 629,765 600,318 833,438
2,410,524 2,308,874 2,293,295 2,592,826 2,552,161 2,144,936 1,344,674 1,422,486 1,548,998 1,543,285 1,237,409 1,410,175 1,052,711 1,041,631 1,067,215 1,086,775 683,041 643,265 13,547,948 9,013,050 7,532,228 8,959,551 9,638,507 8,240,855 125,557 101,435 88,945 89,646 78,455 66,308
57,825,237 58,339,616 55,092,549 62,166,457 60,013,142 57,012,588 772,290 564,159 544,936 522,049 632,196 496,337
772,290 564,159 544,936 522,049 632,196 496,337
$ 58,597,527 $ 58,903,775 $ 55,637,485 $ 62,688,506 $ 60,645,338 $ 57,508,925 $ 9,432,477 $ 6,472,435 $ 7,685,851 $ 8,042,722 $ 7,040,241 $ 9,900,266 1,017,546 994,626 783,767 3,094,764 1,662,227 2,584,296 40,000 84,064 16,331 44,945 45,836 46,746
3,368,624 3,735,926 3,765,814 4,025,621 4,013,995 4,172,977 1,137,338 1,311,260 1,426,793 1,016,238 959,502 1,003,981 5,472,374 4,980,866 2,934,567 3,518,339 5,219,090 6,256,113 2,498,959 784,752 114,227 1,541,090 354,207 391,727
22,967,318 18,363,929 16,727,350 21,283,719 19,295,098 24,356,106 1,265,566 996,519 967,840 1,737,964 1,270,560 1,239,790 - - - - - -
1,265,566 996,519 967,840 1,737,964 1,270,560 1,239,790 $ 24,232,884 $ 19,360,448 $ 17,695,190 $ 23,021,683 $ 20,565,658 $ 25,595,896 193
City of Emeryville
Statistical Section - Table II (continued)
Changes in Net Position
Last Ten Fiscal Years
(accrual basis of accounting)
2013 2014 2015 2016
Net (Expense)/Revenue
Governmental activities $ (25,842,580) $ (6,601,571) $ (8,212,305) $ (45,452,776) Business-type activities 481,094 261,922 671,272 695,310 Total primary government net expense $ (25,361,486) $ (6,339,649) $ (7,541,033) $ (44,757,466) General Revenues and Other Changes in Net Position
Governmental activities:

Taxes
Property taxes $ 8,582,917 $ 4,510,321 $ 6,277,517 $ 9,299,477 Tax increment - - - -
Transient occupancy taxes 4,851,768 5,276,554 5,911,821 6,894,846 Sales taxes 7,513,925 8,038,150 8,233,456 8,507,880
Franchise taxes 1,325,775 1,597,846 1,602,164 1,643,944 Business license taxes 7,321,687 7,531,077 7,668,497 8,172,325 Other taxes 3,080,911 3,520,812 4,390,169 5,959,825
Motor Vehicle in lieu 630,599 651,661 679,813 759,623
Use of money and property 399,545 2,004,475 1,739,427 2,220,381 Miscellaneous 459,536 115,883 150,307 731,945
Extraordinary gain/(loss) 1,465,064 - - -
Special item - - 674,053 -
Transfers 81,500 63,264 30,000 81,500
Total governmental activities 35,713,227 33,310,043 37,357,224 44,271,746 Business-type activities:

Use of money and property 27,102 26,208 20,697 21,929
Miscellaneous - - - -
Transfers (81,500) (63,264) (30,000) (81,500)
Total business-type activities (54,398) (37,056) (9,303) (59,571) Total primary government $ 35,658,829 $ 33,272,987 $ 37,347,921 $ 44,212,175 Change in Net Position
Governmental activities $ 9,870,647 $ 26,708,472 $ 29,144,919 $ (1,181,030) Business-type activities 426,696 224,866 661,969 635,739 Total primary government $ 10,297,343 $ 26,933,338 $ 29,806,888 $ (545,291) 194
2017 2018 2019 2020 2021 2022
$ (34,857,919) $ (39,975,687) $ (38,365,199) $ (40,882,738) $ (40,718,044) $ (32,656,482) 493,276 432,360 422,904 1,215,915 638,364 743,453
$ (34,364,643) $ (39,543,327) $ (37,942,295) $ (39,666,823) $ (40,079,680) $ (31,913,029) $ 7,393,808 $ 8,453,487 $ 8,920,973 $ 9,979,951 $ 20,780,101 $ 12,040,438 - - - - - -
7,426,301 8,321,942 8,687,505 6,027,857 2,278,249 4,500,562 8,632,015 8,729,795 9,327,118 7,839,940 10,371,518 12,020,818 1,694,244 1,789,616 1,863,560 1,989,366 1,983,038 2,239,676 8,711,004 8,984,641 9,567,421 8,658,838 6,524,869 9,614,930 6,639,571 9,398,190 7,769,284 10,559,305 3,030,308 3,381,368 807,327 853,910 905,486 963,890 1,029,008 1,090,015
1,978,664 2,520,500 6,229,843 5,075,406 2,454,252 (1,905,456) 238,946 94,115 106,793 84,553 2,395,529 2,815,869
- - - - - -
- 14,976,044 - - - -
- 51,500 51,500 51,500 185,800 51,500
43,521,880 49,197,696 68,405,527 51,230,606 51,032,672 45,849,720 27,569 51,443 99,863 105,446 37,753 16,883
- - - - - -
- (51,500) (51,500) (51,500) (185,800) (51,500)
27,569 (57) 48,363 53,946 (148,047) (34,617)
$ 43,549,449 $ 49,197,639 $ 68,453,890 $ 51,284,552 $ 50,884,625 $ 45,815,103 $ 8,663,961 $ 9,222,009 $ 30,040,328 $ 10,347,868 $ 10,314,628 $ 13,193,238 520,845 432,303 471,267 1,269,861 490,317 708,836
$ 9,184,806 $ 9,654,312 $ 30,511,595 $ 11,617,729 $ 10,804,945 $ 13,902,074 195
City of Emeryville
Statistical Section - Table III
Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
2013 2014 2015 2016
General Fund
Nonspendable 12,105,075 $ 13,620,689 $ 7,179,797 $ 565,502 $ Restricted 100,000 100,000 100,000 100,000
Committed 10,962,630 11,161,002 6,578,314 35,920,416
Assigned 1,320,228 1,328,589 1,335,717 1,344,194
Unassigned 10,298,184 11,977,384 18,719,632 1,271,572
Total General Fund 34,786,117 $ 38,187,664 $ 33,913,460 $ 39,201,684 $ All other government funds:

Nonspendable: 11,816,426 - - -
Restricted for: 24,747,447 59,093,273 67,478,317 50,900,633 Committed to: 13,195,339 13,298,713 26,063,322 44,398,585 Assigned to: - - 9,573,983 3,440,097
Unassigned (2,891,620) - 2,397,964 -
Total all other governmental funds $ 46,867,592 $ 72,391,986 $ 105,513,586 $ 98,739,315

1. Restated 2016 due to the recognition of grant fund revenue in prior year.

Notes:
196
2017 2018 2019 2020 2021 2022
$ 319,095 $ 38,877 $ 43,363 $ 67,583 $ 48,546 $ 41,786
100,000 180,000 363,652 343,371 319,323 293,956
35,529,250 33,631,564 38,186,648 39,451,092 40,336,617 39,176,083 2,354,457 3,382,403 3,451,939 3,137,915 3,135,503 3,142,251 2,404,324 1 3,843,833 7,759,918 9,997,255 10,460,005 16,229,351 $ 40,707,126 $ 41,076,677 $ 49,805,520 $ 52,997,216 $ 54,299,994 $ 58,883,427 605 - - 20,434 - -
60,652,375 89,867,586 94,357,022 55,741,536 48,881,034 51,068,818 44,888,763 17,238,821 18,493,798 59,670,444 65,609,682 67,343,107 3,907,818 4,476,972 5,050,415 5,219,885 5,616,979 5,840,622 - - - - - -
$ 109,449,561 $ 111,583,379 $ 117,901,235 $ 120,652,299 $ 120,107,695 $ 124,252,547 197
City of Emeryville
Statistical Section - Table IV
Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
2013 2014 2015 2016
Revenues
Taxes 35,376,452 $ 32,977,187 $ 36,930,822 $ 44,338,425 $ Licenses, fees, and permits 2,614,809 2,838,908 5,200,746 8,627,186 Intergovernmental 3,104,155 2,229,424 3,025,831 3,572,596 Contribution from property owners 50,000 - - -
Charges for services 2,033,755 2,160,395 2,002,438 1,914,563 Investment income (364,083) 1,211,943 890,364 1,318,846 Rent 665,282 726,983 767,502 809,172
Contributions 64,859 22,423,847 21,245,659 1,762,756
Developer participation - 110,000 44,250 73,771
Miscellaneous 2,892,047 1,883,198 3,290,982 4,274,525
Total revenues 46,437,276 66,561,885 73,398,594 66,691,840 Expenditures
City council 135,680 137,582 159,002 173,094
City manager 735,876 722,230 899,964 1,159,302
City attorney 611,437 563,063 547,371 410,125
Finance 927,811 876,395 963,708 875,409
Human resources 484,534 531,949 643,173 788,536
Information technology 414,117 435,804 828,759 859,896
Non-departmental operations 5,187,691 2,371,880 2,375,549 3,635,154 Police 9,562,030 9,569,271 10,302,605 10,538,221
Fire 5,756,509 5,633,392 6,258,898 6,405,297
Planning and building 2,029,904 2,813,429 2,897,036 3,767,846 Economic development and housing 851,573 819,501 3,311,696 20,343,610 Redevelopment 13,217 14,760 - -
Property based improvement district 2,595,430 2,781,500 2,959,562 3,761,548 Community services 528,468 565,762 525,778 551,581
Child development 1,636,046 1,720,257 1,925,895 1,997,610 Youth services 690,136 721,432 967,695 1,189,876
Adult services 513,434 611,513 677,616 643,700
Public works 4,203,173 3,403,038 3,382,517 3,248,768
Capital outlay 1,569,071 1,833,881 4,397,318 7,190,599
Debt service:

Principal retirement 227,182 4,980,900 241,900 252,700
Interest and fiscal charges 256,940 306,466 135,156 128,199 Total expenditures 38,930,259 41,414,005 44,401,198 67,921,071 Excess of revenues over
(under) expenditures 7,507,017 25,147,880 28,997,396 (1,229,231) Other Financing Sources (Uses)
Transfers in 4,117,235 2,645,924 12,784,535 9,275,128
Transfers out (4,265,735) (3,314,160) (12,934,535) (9,773,628) Other debt issued - - - -
Proceeds from the sale capital assets 21,198 55,997 - - Refunding of bonds issued - 4,390,300 - -
Total other financing
sources (uses) (127,302) 3,778,061 (150,000) (498,500)
Extraordinary gain/(loss) on dissolution
of redevelopment agency (Note 18) - - - -
Net change in Fund Balance $ 7,379,715 $ 28,925,941 $ 28,847,396 $ (1,727,731) Debt service as a percentage of noncapital expenditures 1.3% 13.4% 0.9% 0.6% 198
2017 2018 2019 2020 2021 2022
$ 43,865,567 $ 49,115,972 $ 49,921,074 $ 49,121,004 $ 49,187,821 $ 48,188,028 8,345,892 4,809,917 5,803,734 7,150,661 7,462,296 10,313,353 4,697,180 4,759,150 4,275,288 3,303,809 5,224,423 6,232,890 - - - - - -
1,944,900 2,110,315 2,256,270 1,704,087 1,304,852 1,811,058 884,800 1,219,899 4,772,564 3,848,306 1,968,687 (2,114,891) 982,184 1,108,614 1,102,264 893,139 689,319 912,044
1,742,497 362,726 130,416 357,468 331,814 320,708
- 3,060 - 1,442,000 - -
3,632,418 2,869,907 2,801,351 3,656,696 4,086,315 4,750,000 66,095,438 66,359,560 71,062,961 71,477,170 70,255,527 70,413,190 188,481 208,890 214,559 204,213 202,931 202,598
1,264,541 1,298,346 1,124,576 1,037,140 999,183 942,544 539,571 509,639 594,489 546,763 491,405 536,178
1,028,922 1,028,306 1,103,089 1,204,350 982,305 984,478 783,842 732,127 722,633 664,688 681,387 780,633
852,415 987,075 1,137,306 1,251,103 1,242,404 1,295,472 3,493,521 3,185,740 3,558,762 3,587,004 3,029,929 3,561,641 11,658,176 16,265,427 12,896,563 14,145,368 14,026,356 14,668,785 7,079,486 7,888,892 8,380,914 8,884,529 9,410,896 9,766,574 3,058,630 3,041,482 4,363,993 3,334,957 3,794,177 5,165,162 1,199,277 5,947,215 1,249,415 3,357,737 2,055,180 2,302,995 - - - - - -
3,863,878 4,064,405 4,263,247 4,648,962 4,687,374 4,859,599 865,999 1,026,324 994,020 630,543 600,352 833,780
2,149,360 2,121,898 2,261,778 2,331,071 2,273,418 2,142,038 1,263,087 1,356,466 1,495,713 1,452,827 1,148,805 1,386,293 963,650 961,012 987,296 948,164 548,505 567,395
9,814,017 6,189,128 5,502,678 4,675,419 4,754,410 4,838,128 2,783,709 4,884,123 5,096,276 11,952,431 18,884,781 6,533,917 258,100 263,200 272,900 282,100 290,900 299,200
121,088 102,731 94,783 86,541 78,455 68,995
53,229,750 62,062,426 56,314,990 65,225,910 70,183,153 61,736,405 12,865,688 4,297,134 14,747,971 6,251,260 72,374 8,676,785 18,249,921 3,273,326 2,244,824 2,901,232 5,047,854 5,699,686 (18,899,921) (5,091,826) (2,223,324) (3,209,732) (4,362,054) (5,648,186) - - - - - -
- 24,735 14,220 - - -
- - - - - -
(650,000) (1,793,765) 35,720 (308,500) 685,800 51,500
- - - - - -
$ 12,215,688 $ 2,503,369 $ 14,783,691 $ 5,942,760 $ 758,174 $ 8,728,285

0.8% 0.6% 0.7% 0.7% 0.7% 0.7%
199
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City of Emeryville
Statistical Section - Table V
Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years
Total
Less: Total Taxable Direct
Fiscal Real Personal Tax-Exempt Assessed Tax
Year Property Property Property Value Rate (%) (1)
2012-13 3,587,063,228 $ 479,029,792 $ (96,907,938) $ 3,969,185,082 $ 0.2182% 2013-14 3,763,651,363 471,653,509 (83,737,232) 4,151,567,640 0.2182% 2014-15 3,993,898,360 457,744,022 (108,720,173) 4,342,922,209 0.2182% 2015-16 4,468,931,248 331,063,497 (94,880,198) 4,705,114,547 0.2182% 2016-17 4,763,568,831 374,017,423 (136,247,060) 5,001,339,194 0.2182% 2017-18 5,012,942,428 407,061,644 (129,349,135) 5,290,654,937 0.2182% 2018-19 5,246,143,040 478,110,415 (113,400,217) 5,610,853,238 0.2182% 2019-20 5,580,325,969 547,532,578 (154,063,581) 5,973,794,966 0.2182% 2020-21 5,940,222,805 593,865,301 (212,001,263) 6,322,086,843 0.2182% 2021-22 6,276,562,903 617,612,700 (227,330,945) 6,666,844,658 0.2182% Notes:
(1) Total Direct Tax Rate is respresented by TRA 014-000, rates are not adjusted for ERAF Source: Alameda County Data, Avenu Insights & Analytics In 1978, the voters of California passed Proposition 13, which limited property taxes to a maximum of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased by an "inflation factor" (limited to a maximum increase of 2%). With some few exceptions, property is only reassessed at the time that it is sold to a new owner. At that time, the new assessed value is determined based on the purchase price of the property sold. The assessed valuation data shown above represents the only data currently available with respect to the actual market value of taxable property and is subject to the limitations described above.
201
City of Emeryville
Statistical Section - Table VI
Assessed Value of Property by Use Code, Citywide
Last Ten Fiscal Years
Category 2012-13 2013-14 2014-15 2015-16 2016-17
Commercial 1,842,355,117 $ 1,910,845,651 $ 1,963,116,063 $ 2,230,128,700 $ 2,323,635,087 $ Residential 1,321,832,460 1,427,012,709 1,597,120,334 1,768,921,200 2,020,530,350 Industrial 288,566,703 283,204,476 278,517,236 279,149,179 306,056,222 Vacant 43,899,479 64,722,372 77,674,621 108,079,740 73,760,581 Government - - - - -
Recreation 20,461,208 23,828,087 24,294,117 26,144,934 26,884,461 Institution 11,965,086 12,204,303 12,259,632 12,504,542 12,695,142 Public - - - - -
Unitary 523,096 523,096 74,276 74,276 74,276
Unknown 57,460,079 41,310,669 40,916,357 44,002,953 6,988 Gross Secured Value 3,587,063,228 3,763,651,363 3,993,972,636 4,469,005,524 4,763,643,107 Unsecured Value 479,029,792 471,653,509 457,744,022 331,063,497 374,017,423 Exemptions 96,907,938 83,737,232 108,720,173 94,880,198 136,247,060 Total Taxable Value 3,969,185,082 $ 4,151,567,640 $ 4,342,996,485 $ 4,705,188,823 $ 5,001,413,470 $ Notes:

Use code categories are based on Alameda County Assessor’s data Source: Alameda County Assessor data, Avenu Insights & Analytics $‐
$1,000,000,000
$2,000,000,000
$3,000,000,000
$4,000,000,000
$5,000,000,000
$6,000,000,000
$7,000,000,000
2012‐13 2013‐14 2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 Unknown
Unitary
Institution
Recreation
Vacant
Industrial
Residential
Commercial
202
2017-18 2018-19 2019-20 2020-21 2021-22
$ 2,488,581,968 $ 2,576,533,502 $ 2,696,121,934 $ 2,978,043,691 $ 3,103,593,299 2,123,374,518 2,207,853,346 2,322,356,929 2,298,074,948 2,347,341,239 294,520,921 321,736,794 338,489,520 326,542,844 348,616,269 71,795,067 94,997,916 177,460,587 133,954,753 271,003,549 - - - 39,553,561 40,209,675
18,541,311 19,221,983 19,861,495 1,501,690 1,517,243
16,050,662 25,721,587 25,886,260 31,852,375 31,703,789
- - 71,400 - -
71,063 71,063 71,063 71,063 77,162
6,918 6,849 6,781 130,627,880 132,500,678
5,012,942,428 5,246,143,040 5,580,325,969 5,940,222,805 6,276,562,903 407,061,644 478,110,415 547,532,578 593,865,301 617,612,700 129,349,135 113,400,217 154,063,581 212,001,263 212,001,263 $ 5,290,654,937 $ 5,610,853,238 $ 5,973,794,966 $ 6,322,086,843 $ 6,682,174,340 203
City of Emeryville
Statistical Section - Table VII
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(rate per $100 of assessed value)
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Basic City and County Levy
City of Emeryville 0.2182 0.2182 0.2182 0.2182 0.2182 0.2182 0.2182 0.2182 0.2182 0.2182 Alameda County 0.7818 0.7818 0.7818 0.7818 0.7818 0.7818 0.7818 0.7818 0.7818 0.7818

1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 Countywide GO Bond 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0112 0.0108 0.0036 0.0041 Emery Unified School District 0.0663 0.0874 0.0759 0.0682 0.0680 0.0656 0.0594 0.0614 0.0593 0.0532 Peralta Community College 0.0434 0.0419 0.0412 0.0337 0.0256 0.0310 0.0269 0.0257 0.0452 0.0407 Bay Area Rapid Transit 0.0043 0.0075 0.0045 0.0026 0.0080 0.0084 0.0070 0.0120 0.0139 0.0060 East Bay Regional Park I 0.0051 0.0078 0.0085 0.0067 0.0032 0.0021 0.0057 0.0060 0.0014 0.0020 EBMUD Special District I 0.0068 0.0066 0.0047 0.0034 0.0028 0.0011 0.0000 0.0000 0.0000 0.0000

0.1259 0.1512 0.1348 0.1146 0.1076 0.1082 0.1102 0.1159 0.1234 0.1060 Total Direct Tax Rate 1.1259 1.1512 1.1348 1.1146 1.1076 1.1082 1.1102 1.1159 1.1234 1.1060

1. The above tax rates are applied per $100 of assesed valuation for TRA 14-00.

Source: Alameda County Auditor/Controller data, Avenu Insights & Analytics Notes:

2. In 1978, California voters passed Proposition 13 which sets property tax rate at a 1% fixed amount. This 1% is shared by all taxing agencies for which the subject property resides within. In addition to the 1% fixed amount, property owners are charged taxes for the payment of various other agency levies.
204
City of Emeryville
Statistical Section - Table VIII
Principal Property Tax Payers
Current Year and Nine Years Ago
Taxpayer Taxable Value ($)
Percent of Total
City Taxable
Value (%) Taxable Value ($)
Percent of
Total City
Taxable Value
(%)
5616 Bay Street Investors LLC $                336,702,984 5.05% Emery Station Joint Venture LLC 287,778,451 4.32%
Pixar 261,245,556 3.92% 295,742,759 $         7.45%
BRE Properties Inc. 235,453,153 3.53%
KBS III Towers Emeryville LLC 195,216,446 2.93%
Courtyards At 65Th L P 180,792,035 2.71%
SPUS8 2100 Powell L P 179,639,592 2.69%
Avalon Public Market L P 135,027,180 2.03%
Bay Center Investor LLC 129,889,789 1.95% 72,880,000              1.84% Bcore Emerytech Owner LLC 127,810,540 1.92%
Prime Us Tower Emeryville LLC 122,354,596 1.84%
G C Diagnostics Corp 121,755,848 1.83%
BCSP Hollis Property LLC 112,012,400 1.68%
Windsor Metropolitan L P 105,603,336 1.58% 61,160,066              1.54% ES East LLC 100,130,471 1.50% 239,884,576            6.04% East Bay Bridge Retail LLC 98,400,263 1.48% 61,023,288              1.54% Archstone Emeryville Residential 85,561,807 1.28%
Rockwood Christie LLC 77,308,999 1.16%
Holiday Garden EV Corp 67,838,328 1.02%
Zymergen Inc. 64,151,499 0.96%
Emeryville Parcel CFG De LLC 56,913,199 0.85%
ASN Emeryville LLC 55,765,322 0.84% 46,791,336              1.18% HPTMI Properties Trust 55,714,800 0.84% 40,250,000              1.01% Emeryville Property Owner LLC 55,647,694 0.83%
DP Emeryville 40Th Street Investors 55,590,061 0.83%
Madison Manhattan Village LLC           206,551,337 5.20% Chiron Corp           187,500,124 4.72%
Novartis Vaccines Diagnostic              157,687,750 3.97% Emeryville Office LLC           139,230,510 3.51%
STRS Ohio CA Real Estate Inves           102,447,908 2.58% Hines Reit Watergate L P             91,187,617 2.30%
BRE FMCA LLC             90,128,740 2.27%
6400 Christie Avenue Emeryville             52,882,403 1.33% CEP Emery Tech Investors LLC             50,553,332 1.27% Regency Centers L P             44,104,488 1.11%
Ikea Property Inc.             43,336,313 1.09%
Marketplace Mortgage LLC             43,200,958 1.09%
Amyris Inc.             41,063,907 1.03%
Griffin Capital Atrium Investors             37,566,208 0.95% Hollis Street Investors II LLC             37,437,101 0.94% APF Emeryville Ownco LLC             36,894,035 0.93%
Agesong Emeryville Owner LLC             36,807,600 0.93% Emeryville LLC             34,717,931 0.87%
Total Top 25 Taxpayers 3,304,304,349 49.56% 2,251,030,287 56.71% Total Taxable Value $             6,666,844,658 100.00% 3,969,185,082 $     100.00% Source:2012-13, previously published ACFR
2021‐22 2012‐13
Source:  Alameda County Assessor data, Avenu Insights & Analytics 205
City of Emeryville
Statistical Section - Table IX
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal
Year Taxes Levied Collections
Ended for the Percentage of Prior Percentage
June 30, Fiscal Year Amount of Levy Years (1) Amount of Levy (2) 2013 1,333,243 $ 1,187,107 $ 89.04% 232,398 $ 1,419,505 $ 106.47% 2014 1,327,293 1,210,101 91.17% 203,219 1,413,320 106.48% 2015 1,418,429 1,308,695 92.26% 154,927 1,463,621 103.19% 2016 1,496,399 1,358,989 90.82% 123,183 1,482,172 99.05% 2017 1,523,904 1,388,364 91.11% 74,650 1,463,014 96.00% 2018 1,643,180 1,521,809 92.61% 139,199 1,661,007 101.08% 2019 1,718,973 1,599,354 93.04% 105,848 1,705,202 99.20% 2020 1,804,671 1,658,918 91.92% 115,749 1,774,667 98.34% 2021 1,863,155 1,656,937 88.93% 155,602 1,812,539 97.28% 2022 1,917,352 - 0.00% - - 0.00%
Notes:

Source: Alameda County Auditor-Controller Agency
Collected within the
Fiscal Year of the Levy Total Collections to Date
1) Collection in subsequent years is reported based on revenue received from the County for the fiscal year end shown. The City does not receive information from the County that specifies how much of the subsequent collection received belongs to each fiscal year. Subsequent collections for both tax types include penalties and interest assessed on the previously unpaid amounts. As a result, total collections for each levy year are not presented.
2) Percentage of Levy includes total collections of prior year's property tax delinquencies as well as taxes levied for the current fiscal year; resulting in percentages greater than 100% in some years. 206
City of Emeryville
Statistical Section - Table X
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Business-type
Activities
Lease Total Percentage Debt
Fiscal Revenue Capital Sewer Primary of Property Per
Year Bonds Leases Loans Government Value Capita
2013 4,745,000 $ - $ $ - $ 4,745,000 0.12% $ 462
2014 4,154,400 - - 4,154,400 0.10% 396
2015 3,912,500 - - 3,912,500 0.09% 370
2016 3,659,800 - - 3,659,800 0.08% 312
2017 3,401,700 - - 3,401,700 0.07% 287
2018 3,138,500 - - 3,138,500 0.06% 262
2019 2,865,600 - - 2,865,600 0.05% 241
2020 2,583,500 - - 2,583,500 0.04% 210
2021 2,292,600 - - 2,292,600 0.04% 182
2022 1,993,400 - - 1,993,400 0.03% 160
Notes:

Details regarding the city's outstanding debt can be found in the notes to the financial statements. (Note 7 Long-Term Liabilities) Source: County of Alameda Auditor-Controller; City of Emeryville Governmental Activities
207
City of Emeryville
Statistical Section - Table XI
Ratios of General Bonded Debt Outstanding
Last Ten Fiscal Years
Lease Percent Debt
Fiscal Revenue of Assessed Per
Year Bonds Total Value Capita
2013 4,745,000 $ 4,745,000 $ 0.12% 465 $
2014 4,154,400 4,154,400 0.10% 405
2015 3,912,500 3,912,500 0.09% 373
2016 3,659,800 3,659,800 0.08% 346
2017 3,401,700 3,401,700 0.07% 290
2018 3,138,500 3,138,500 0.06% 265
2019 2,865,600 2,865,600 0.05% 239
2020 2,583,500 2,583,500 0.05% 217
2021 2,292,600 2,292,600 0.04% 182
2022 1,993,400 1,993,400 0.03% 160
Source: County of Alameda Auditor-Controller; City of Emeryville Outstanding General Debt
208
City of Emeryville
Statistical Section - Table XII
Statement of Direct and Overlapping Bonded Debt
As of June 30, 2022
2021-22 Assessed Valuation: $6,666,844,658
Total Debt City’s Share of
OVERLAPPING TAX INCREMENT DEBT (Successor Agency): 6/30/2022 % Applicable (1) Debt 6/30/2021 2014 Tax Allocation Refunding Bonds, Series A 54,075,000 $ 100.000% 54,075,000 $ 2014 Tax Allocation Refunding Bonds, Series B 7,770,000 100.000% 7,770,000 TOTAL OVERLAPPING TAX INCREMENT DEBT 61,845,000
DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT:

Alameda County $ 1.927% 3,540,766 183,745,000 $
Bay Area Rapid Transit District 2,521,570,000 0.751% 18,936,991 Peralta Community College District 399,220,000 5.233% 20,891,183 Emery Unified School District 82,482,013 100.000% 82,482,013 Oakland Unified School District 1,112,170,000 0.001% 11,122 City of Emeryville 1915 Act Bonds - 100.000% -
East Bay Regional Park District 184,590,000 1.199% 2,213,234 TOTAL DIRECT AND OVERLAPPING TAX AND ASSESSMENT DEBT $ 128,075,309 DIRECT AND OVERLAPPING TAX AND ASSESSMENT AND TAX INCREMENT DEBT $ 189,920,309 DIRECT AND OVERLAPPING GENERAL FUND DEBT:

Alameda County General Fund Obligations $ 742,688,000 1.927% 14,311,598 $ Alameda-Contra Costa Transit District Certificates of Participation 11,655,000 2.281% 265,851 Peralta Community College District Pension Obligation Bonds 128,004,633 5.233% 6,698,482 Oakland Unified School District General Fund Obligations 10,220,000 0.001% 102 City of Emeryville General Fund Obligations - 2013A Lease Revenue Bonds 1,993,400 100.000% 1,993,400 TOTAL OVERLAPPING GENERAL FUND DEBT $ 23,269,433
TOTAL DIRECT DEBT $ 1,993,400
TOTAL OVERLAPPING DEBT $ 211,196,342
COMBINED TOTAL DEBT $ 213,189,742 (2)
Notes:

Source: Avenu Insights & Analytics
Overlapping governments are those that coincide, at least in part, within the geographic boundaries of the City. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borned by the residents and businesses of the City. This process recognizes that, when considering the City's ability to issue and repay long-term debt, the entire debt burdend borned by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore, responsible for repaying the debt, of each overlapping government.
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) Direct and overlapping tax and assessment debt combined with general fund debt and overlapping tax increment debt. Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue bonds and non-bonded capital lease obligations. 209
City of Emeryville
Statistical Section - Table XIII
Legal Debt Margin Information
Last Ten Fiscal Years
2013 2014 2015 2016
Total assessed value for fiscal year 3,969,185,082 $ 4,151,567,640 $ 4,342,922,209 $ 4,705,114,547 $ Debt limit (15% of assessed value) 595,377,762 $ 622,735,146 $ 651,438,331 $ 705,767,182 $ Total general obligation bonds - $ $ - $ - $ -
Legal debt margin $ 595,377,762 $ 622,735,146 $ 651,438,331 $ 705,767,182 Total net debt applicable to the limit
as a percentage of debt limit 0.00% 0.00% 0.00% 0.00%
Notes:

Source:Source: Alameda County Data, Avenu Insights & Analytics Under state finance law, the city's outstanding general obligation debt should not exceed 15 percent of total assessed property value.

By law, the general obligation debt subject to the limitation may be offset by amounts set aside for repaying general obligation bonds. 210
2017 2018 2019 2020 2021 2022
$ 5,290,654,937 5,001,339,194 $ 5,610,853,238 $ 5,973,794,966 $ 6,322,086,843 $ 6,666,844,658 $ $ 750,200,879 $ 793,598,241 $ 841,627,986 $ 896,069,245 $ 948,313,026 $ 1,000,026,699 $ - $ - $ - $ - $ - $ -
$ 750,200,879 $ 793,598,241 $ 841,627,986 $ 896,069,245 $ 948,313,026 $ 1,000,026,699

0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
211
City of Emeryville
Statistical Section - Table XIV
Pledged-Revenue Coverage
Last Ten Fiscal Years
Fiscal Tax
Year Increment Principal Interest Coverage
2013 15,866,584 $ $ 6,050,000 $ 8,073,163 1.12
2014 17,288,367 6,330,000 7,777,612 1.23
2015 9,054,035 6,630,000 6,580,847 0.69
2016 3,519,273 6,090,000 4,841,201 0.32
2017 14,712,449 6,335,000 4,699,019 1.33
2018 13,385,506 6,510,000 4,492,314 1.22
2019 14,233,608 6,750,000 4,216,709 1.30
2020 13,134,470 7,060,000 3,895,384 1.20
2021 14,330,220 7,390,000 3,554,588 1.31
2022 15,220,660 7,740,000 3,193,706 1.39
Source: City of Emeryville
Notes:

Details regarding the city's outstanding debt can be found in the notes to the financial statements.

Public Financing Authority Revenue Bonds
Debt Service
212
City of Emeryville
Statistical Section - Table XV
Demographic and Economic Statistics,
Last Ten Fiscal Years
Public
Per Capita School City Memo
Fiscal Personal Personal Median Enrollment Unemployment Alameda Year Population (1) Income (2) Income (2) Age (3) Rate (%)(4) County 2012-13 10,269 547,248,976 $ 53,291 $ 35.0 751 6.4% 9.0% 2013-14 10,491 550,001,166 52,426 34.9 726 4.1% 5.7%
2014-15 10,570 526,550,469 49,816 36.0 695 2.9% 4.5%
2015-16 11,721 634,351,538 54,121 35.1 698 3.0% 4.7%
2016-17 11,854 672,427,278 56,726 35.8 687 2.7% 4.2%
2017-18 11,994 723,657,990 60,335 35.5 690 2.6% 2.9%
2018-19 11,885 756,366,986 63,640 35.3 743 2.1% 2.5%
2019-20 12,298 814,004,866 66,190 35.3 721 9.8% 13.5%
2020-21 12,617 899,206,518 71,445 35.8 698 4.2% 8.8%
2021-22 12,497 950,112,543 76,027 34.8 613 1.8% 2.5%
Notes:

Source: Avenu Insights & Analytics
The California Department of Finance demographics estimates now incorporate 2010 Census counts as the benchmark.

1.) Population Projections are provided by the California Department of Finance Projections.

2.) Income Data is provided by the United States Census Data and is adjusted for inflation.

3.) Student Enrollment reflects the total number of students enrolled in the Emery Unified School District. Other school districts within the City are not accounted for in this statistic.

4.) Unemployment and Total Employment Data are provided by the EDD's Bureau of Labor Statistics Department.

0.0%

5.0%

10.0%

15.0%
2012‐13 2013‐14 2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 City Unemployment Rate
0 5,000
10,000
15,000
2012‐13 2013‐14 2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 Population
213
City of Emeryville
Statistical Section - Table XVI
Principal Employers
Current Year and Nine Years Ago
2013
Percentage Percentage
Number of of Total City Number of of Total City
Employer Employees Rank Employment Employees Employment Pixar Animation Studios 1,465 1 19.80% 1,200 5.54%
Amyris Inc 595 3 8.04% 234 1.08%
AC Transit 435 4 5.88% 492 2.27%
Grocery Outlet Headquarters 427 5 5.77%
Clif Bar & CO 343 6 4.64% 287 1.33%
Grifols Diagnostic Solutions 265 3.58%
IKEA 265 7 3.58% 350 1.62%
Peet's Coffee & Tea Inc. 255 8 3.45% 231 1.07%
Oaks Card Club 217 9 2.93% 436 2.01%
City of Emeryville 170 2.30%
Novartis Corp 1,200 5.54%
Leapfrog 390 1.80%
AAA of Northern CA, Nevada, Utah 330 1.52%
Total Principal Employers 4,437 59.96% 5,150 23.78%
Total Labor Force (1) 7,400 21,650
Notes:

Source:  Avenu Insights & Analytics
Source: 2012‐13 previously published ACFR
(1) Total City Labor Force provided by EDD Labor Force Data 2021
Results based on direct correspondence with city’s local businesses 214
City of Emeryville
Statistical Section - Table XVII
Full-time Equivalent City Government Employees by Function/Program Last Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
City Manager/City Clerk 4.2 4.2 5.0 5.0 6.0 6.0 5.0 5.0 5.0 6.0 Information Technology 3.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 3.0 City Attorney 2.0 2.0 2.0 3.0 2.0 2.0 2.0 2.0 2.0 2.0
Finance 7.0 7.5 7.5 7.8 6.8 6.8 6.8 6.3 6.3 7.0
Human Resources 3.7 4.5 4.5 5.2 5.2 4.2 4.7 4.2 4.2 3.7 Community Development
Planning and Building 10.0 10.0 10.0 10.0 10.0 10.0 12.5 10.5 11.5 10.3 Economic Development
and Housing 4.0 4.0 4.0 5.0 5.0 5.0 6.0 6.0 6.0 4.0
Public Works 14.9 17.0 17.0 20.0 18.5 20.0 21.5 20.5 20.5 14.9 Police Department
Sworn 38.0 38.0 38.0 42.0 41.0 41.0 41.0 38.0 41.0 41.0 Unsworn 17.0 16.0 16.0 17.0 17.0 17.0 19.0 17.0 17.0 17.0 Fire
Sworn - - - - - - - - - -
Unsworn - - - - - - - - - -
Community Services
Administration 6.2 5.4 5.7 2.0 2.0 2.0 6.2 - - -
Youth & Adult Services 15.8 16.0 16.0 15.8 8.0 7.0 9.0 35.3 30.0 27.1 Child Development Center 25.9 25.9 24.8 24.8 25.0 24.0 24.0 23.6 23.6 23.6 Total 151.7 154.2 154.5 156.0 149.5 148.0 181.4 170.1 169.2 152.0 Notes:

Source: City of Emeryville Operating Budgets
A full-time employee is scheduled to work 1,820 hours per year (including vacation and sick leave). Full-time-equivalent employment is calculated by dividing total labor hours by 1,820.
215
2013 2014 2015 2016
Function/Program
General government
Commercial Construction permits issued 735 673 820 889
Value $ 34,830,959 $ 30,374,969 $ 109,305,225 $ 121,865,050 Residential Construction number of
dwelling units 359 - 206 2
Value $ 90,515,346 $ 8,854,994 $ 56,657,643 $ 8,262,777 Police
Physical arrests 834 1,069 1,240 1,104
Traffic collisions 274 334 308 272
Citations 3,519 5,525 5,625 4,450
Investigations 7,883 8,700 6,721 7,065
Total responses 36,452 42,535 37,710 33,738
Fire
Fire Responses 45 54 55 58
Medical Responses 1,329 1,248 1,554 1,701
Total Emergency Responses 1,863 1,841 2,221 2,458
Community Services
Child Development Program (enrollment in 12 month period) 1,034 994 1,034 921 Source: Various city departments.

City of Emeryville
Statistical Section - Table XVIII
Operating Indicators by Function/Program
Last Ten Fiscal Years
216
2017 2018 2019 2020 2021 2022
835 136 89 140 197 318
$ 115,200,224 $ 104,465,013 $ 68,031,991 $ 94,671,085 $ 94,413,658 $ 255,261,222 313 73 72 507 189 2
$ 113,670,075 $ 29,233,329 $ 9,664,486 $ 202,487,180 $ 88,404,305 $ 16,224,373 718 820 796 609 476 581
210 263 319 307 242 382
1,360 3,812 1,739 1,404 1,591 2,351
5,782 6,523 4,658 1,200 2,881 4,643
29,130 33,526 30,271 31,888 29,668 28,214
73 17 24 17 13 70
1,584 1,734 1,068 1,879 1,311 1,486
2,389 2,356 2,461 1,856 1,324 1,324
897 951 834 707 516 580
217
City of Emeryville
Statistical Section - Table XIX
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Function/Program
Police Stations 1111111111
Police vehicles, including
motorcycles 29 29 29 32 34 34 32 32 33 37
Fire stations 2222222222
Apparatus and vehicles 7777777777
Public Works
and Housing 19 19 19 19 19 19 19 19 19 19
Streetlights 1,563 1,563 1,563 1,563 1,563 1,563 1,563 1,563 1,563 1,563 Traffic controllers 27 27 27 27 27 27 29 30 30 27
Miles of Sewer Lines 15 15 15 15 15 15 15 15 15 15
Parks and Community Facilities
Parks 12 12 12 12 12 12 12 12 12 12
Acreage 21.4 21.4 21.4 21.4 21.4 21.4 21.4 21.4 21.4 21.4 Senior Center 1111111111
Child Development Center 1111111111
Recreation Center 1111111111
Source: Various city departments.
218