Fort Bragg City Council
March 23, 2026

ANNUAL COMPREHENSIVE

FINANCIAL REPORT
Fiscal Year Ended June 30, 2025
City of Fort Bragg, California
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City of Fort Bragg, California
Annual Comprehensive Financial Report
Fiscal Year Ended June 30, 2025
Prepared by City of Fort Bragg City Manager
Isaac Whippy
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City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Table of Contents
i
Page
Table of Contents ................................................................................................................................................. i Letter of Transmittal ........................................................................................................................................... vii Organization Chart ............................................................................................................................................. xii Independent Auditors’ Report ............................................................................................................................ 1 Management’s Discussion and Analysis (Required Supplementary Information) .............................................. 4 Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net position .................................................................................................................... 21 Statement of Activities ......................................................................................................................... 22 Fund Financial Statements:

Governmental Funds:

Balance Sheet ............................................................................................................................................. 26 Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Position .................................................................................................................... 28 Reconciliation of Fund Basis Balance Sheet to Government-wide Statement of Net Position – Governmental Activities ......................................................................... 29 Statement of Revenues, Expenditures, and Changes
in Fund Balances – Governmental Funds ............................................................................................. 30 Reconciliation of Fund Basis Statements to Government-wide Statement of Activities ......................................................................................................................... 32 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities ........................................... 33 Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget to Actual – General Fund and
Major Special Revenue Funds .............................................................................................................. 34 Proprietary Funds:

Statement of Net position – Proprietary Funds ......................................................................................... 39 Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds ................................................................................................................................ 40 Statement of Cash Flows – Proprietary Funds ........................................................................................... 41

INTRODUCTORY SECTION

FINANCIAL SECTION
City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Table of Contents
ii
Page
Fiduciary Activities:

Statement of Fiduciary Net position – Fiduciary Activities ......................................................................... 44 Statement of Changes in Fiduciary Net Position – Private Purpose Trust Funds ....................................... 45 Notes to Basic Financial Statements ......................................................................................................... 49 Required Supplementary Information:

Schedule of Changes in Net OPEB Liability and Related Ratios .................................................................. 94 Schedule of Employer Contributions - OPEB .............................................................................................. 96 Schedule of Contributions – Miscellaneous Plan ........................................................................................ 97 Schedule of Contributions – Safety Plan ..................................................................................................... 98 Schedule of City’s Proportionate Share of Net Pension Liability – Miscellaneous Plan ............................................................................................................................... 99 Schedule of City’s Proportionate Share of Net Pension Liability – Safety Plan .......................................................................................................................................... 100

Other Supplemental Information:

Combining and Individual Fund Financial Statements and Schedules:

Non-major Governmental Funds:

Combining Balance Sheet – Nonmajor Governmental Funds .................................................................. 103 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Governmental Funds .......................................................................... 104 Combining Balance Sheet – Nonmajor Special Revenue Funds ............................................................... 108 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Special Revenue Funds ...................................................................... 112 Combining Balance Sheet – Federal and State Grant Special Revenue Funds ........................................ 116 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Federal and State Grant Special Revenue Funds ................................................. 118 Combining Balance Sheet – Non-major Capital Projects Funds ............................................................... 120 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Non-major Capital Projects Funds ....................................................................... 121 Internal Service Funds:

Combining Statement of Net position – Internal Service Funds .............................................................. 123 Combining Statement of Revenues, Expenses, and Changes
in Net Position – Internal Service Funds ............................................................................................ 124 Combining Statement of Cash Flows – Internal Service Funds ................................................................ 125 City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Table of Contents
iii
Page
Financial Trends
Net Position by Component ...................................................................................................................... 128 Change in Net Position .............................................................................................................................. 130 Fund Balances of Governmental Funds .................................................................................................... 134 Changes in Fund Balances of Governmental Funds .................................................................................. 136 Revenue Capacity
Governmental Fund Tax Revenues by Source .......................................................................................... 138 Principal Sales Tax Producers .................................................................................................................... 139 Historical Sales Tax Amounts by Benchmark Year .................................................................................... 140 Assessed Value and Estimated Actual Value of Taxable Property, City Wide .......................................... 142 Assessed Value of Property by Use Code, City Wide ................................................................................ 143 Direct and Overlapping Property Tax Rates .............................................................................................. 144 Principal Property Taxpayers .................................................................................................................... 146 Property Tax Levies and Collections ......................................................................................................... 147 Debt Capacity
Ratios of Outstanding Debt by Type ......................................................................................................... 148 Legal Debt Margin Information ................................................................................................................. 150 Direct and Overlapping Debt .................................................................................................................... 152 Pledged Revenue Coverage ...................................................................................................................... 154 Demographic and Economic Information
Demographic and Economic Statistics ...................................................................................................... 156 Principal Employers ................................................................................................................................... 157 Operating Information
Full-Time and Part-Time City Employees by Function (Full-Time Equivalent) .......................................... 158 Operating Indicators by Function ............................................................................................................. 159 Capital Asset Statistics by Function .......................................................................................................... 160 Statistical Section
iv
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v

INTRODUCTORY SECTION
¾ Letter of Transmittal
¾ Organizational Chart, Elected and Appointed Officials vi
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vii
March 18, 2026
The Honorable City Council
City of Fort Bragg
Transmittal of the Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2025
To the Citizens of the City of Fort Bragg, Honorable Mayor, and Members of the City Council:

We are pleased to present the Annual Comprehensive Financial Report (ACFR) for the City of Fort Bragg for the fiscal year ended June 30, 2025. This report has been prepared in accordance with generally accepted accounting principles (GAAP) and standards established by the Governmental Accounting Standards Board (GASB) and is intended to provide a complete and transparent presentation of the City’s financial position and results of operations.

Management is responsible for the accuracy, completeness, and fairness of the information contained in this report, as well as for establishing and maintaining a system of internal controls designed to provide reasonable assurance that assets are safeguarded and that financial records are reliable for preparing financial statements in conformity with GAAP.

These internal controls are designed to protect public resources while ensuring accountability and sound financial management.

The City’s financial statements have been audited by JJACPA, Inc., an independent firm of certified public accountants licensed and qualified to perform audits of California local governments. The audit was conducted in accordance with generally accepted auditing standards and Government Auditing Standards. The auditors have issued an unmodified (“clean”) opinion, stating that the City’s financial statements are fairly presented, in all material respects, in conformity with U.S. GAAP. Their independent auditor’s report is included at the beginning of the Financial Section of this report.

Following the auditor’s report, the Management’s Discussion and Analysis (MD&A) provides a narrative overview and analysis of the City’s financial activities for the fiscal year. It is intended to complement this letter of transmittal and should be read in conjunction with the basic financial statements and notes for a fuller understanding of the City’s fiscal condition.

This report includes the financial activities of the City of Fort Bragg, the Fort Bragg Redevelopment Successor Agency, and Fort Bragg Municipal Improvement District No. 1 (MID). Although the Successor Agency and MID are legally separate entities, they are included as blended component units because of the City Council’s governing responsibility viii
and the close financial relationship they share with the City. Additional detail regarding these component units is provided in the MD&A and the Notes to the Basic Financial Statements.

Profile of the Government
Incorporated in 1889, the City of Fort Bragg is located on the scenic Mendocino Coast approximately 165 miles north of San Francisco. With a population of approximately 6,983, Fort Bragg is the largest city on the Northern California coast between San Francisco and Eureka. The City spans 2.7 square miles and is known for its coastal setting, historic character, and role as a regional center for tourism, recreation, services, and commerce.

Fort Bragg operates under the Council-Manager form of government. The five-member City Council is elected at large to staggered four-year terms, and the Mayor is selected by the Council. The Council appoints the City Manager, who is responsible for carrying out Council policy, overseeing municipal operations, and managing City departments and personnel.

The City provides a broad range of services, including police protection, water and wastewater utility operations, public works, community development, administrative services, and recreation and wellness programming through the C.V. Starr Community Center. The City also works collaboratively with other public agencies, special districts, and joint powers authorities that support fire protection, wastewater treatment, education, healthcare, and harbor services throughout the region.

The City’s annual budget serves as an important financial and policy document, aligning available resources with City Council priorities, strategic initiatives, and service needs. The City Manager is responsible for preparing and administering the budget, including capital planning and ongoing fiscal monitoring throughout the year. The City maintains internal controls, budgetary oversight, and an encumbrance accounting system to strengthen fiscal discipline and ensure appropriations are not exceeded.

Spending Limitation
Article XIIIB of the California Constitution, commonly known as the Gann Spending Limitation, restricts the amount of proceeds of taxes that California governments may appropriate each year. The City continues to remain below its appropriations limit and was not constrained by the Gann limitation during fiscal year 2024/25.

Economic Conditions and Fiscal Outlook
Fort Bragg’s local economy continues to be shaped by its role as a coastal destination community, with tourism, retail activity, healthcare, education, and public services serving as important economic drivers. The City’s General Fund remains significantly supported by transient occupancy tax (TOT), sales and use tax, and property tax revenues. These revenues continued to perform steadily during fiscal year 2024/25, reflecting a stable local economy and prudent fiscal management.

During fiscal year 2024/25, the City saw growth in several key revenue categories. Property tax revenues increased by approximately 6%, sales and use tax increased by approximately 14%, and transient occupancy tax increased modestly following the partial-year ix
implementation of Measure U. Measure T and Measure U, both effective April 1, 2025, began contributing additional local revenue in support of municipal services and long-term financial sustainability.

While the broader economy continues to face uncertainty related to inflationary pressures, interest rates, housing affordability, and potential trade disruptions, the City remains focused on long-term fiscal resilience. Local unemployment has continued to improve from pandemicera highs, and Fort Bragg’s economy remains supported by visitor spending, local business activity, and ongoing public investment.

At the same time, the City continues to navigate longer-term fiscal challenges common to many local governments, including rising personnel costs, pension obligations, infrastructure replacement needs, and uncertainty in state and federal funding. These conditions reinforce the importance of maintaining strong reserves, pursuing outside funding opportunities, and making strategic investments that support the City’s long-term operational and financial health.

Major Initiatives and Financial Highlights
Fiscal year 2024/25 was marked by significant progress in infrastructure investment, utility modernization, and implementation of strategic priorities that position the City for long-term resilience.

Fiscal Year 2024/25 was marked by significant progress across multiple strategic priorities, reflecting the City’s continued commitment to economic vitality, infrastructure investment, organizational excellence, and community engagement. Key accomplishments include:
• Voter Approval of Measures T and U, generating over $1.4 million in new ongoing General Fund revenue to support essential City services and long-term fiscal sustainability.
• Attainment of a 30% General Fund Reserve Level, exceeding best practice recommendations and strengthening the City’s financial resilience and ability to respond to economic uncertainty.
• Investment of $3.5 Million into the City’s Section 115 Trust, proactively addressing long-term pension obligations and reinforcing the City’s commitment to responsible financial planning.
• Advancement of the Municipal Broadband Initiative, including approximately $17.4 million in infrastructure investment, positioning Fort Bragg for long-term economic development, digital equity, and modernized connectivity. • Adoption of the City’s Strategic Plan (2024–2028+), establishing a clear roadmap to guide policy decisions, capital investments, and organizational priorities over the coming years.
• Advancement of Housing Initiatives, including applying for the State’s Pro-Housing Designation, reinforcing the City’s commitment to reducing barriers and accelerating housing production.
• Approval of the Largest Housing Project in Decades, including an 83-unit development on South Main Street, with approvals secured from both the City Council and the California Coastal Commission. This project represents the first new x
market-rate housing on the coast in decades and is a significant step toward expanding housing options and increasing overall supply. • Completion of a Nexus Study for Capacity Fees, ensuring that development impact fees are legally defensible, aligned with growth, and supportive of infrastructure funding needs.
• Investment in the City’s Workforce, including the implementation of cost-of-living adjustments (COLAs)—among the most significant in recent years— to support employee retention, recruitment, and organizational stability. • Enhanced Employee Development and Organizational Culture, including expanded team building initiatives, staff training programs, and professional development opportunities, reinforcing the City’s commitment to investing in its people.
• Launch of the Volunteer Central Program, expanding opportunities for community members to engage in civic activities and strengthening partnerships between the City and residents.
• Investment in Accela Permitting Software, improving efficiency, transparency, and customer service through streamlined permitting and development processes. • Outsourcing of Building Inspections and Plan Check Services to 4Leaf, significantly improving permit processing timelines, increasing responsiveness, and enhancing service delivery for development projects. • Expanded Communication and Public Engagement Efforts, including the launch of the City Manager’s “CM Roundup” e-newsletter, enhancing transparency and keeping the community informed.
• Downtown Revitalization Initiatives, including beautification efforts, business support programs, and targeted economic development strategies to strengthen the Central Business District.
• Introduction and Growth of Community Events, including the Blues Festival, helping activate public spaces, support local businesses, and enhance Fort Bragg’s identity as a destination community.

Long-Term Financial Planning
The City continues to emphasize long-term financial planning through reserve policies, pension management strategies, capital planning, and multi-year forecasting. The City Council has maintained its commitment to key General Fund reserves and fiscal policies intended to support service continuity, respond to economic uncertainty, and preserve organizational flexibility.

The City’s financial policies are designed to maintain a financially viable local government, provide flexibility to adapt to economic changes, and preserve the City’s fiscal integrity.

These policies guide budgeting, reserves, debt management, capital financing, investments, cost allocation, accounting and financial reporting, and related fiscal practices. These policies continue to play a significant role in shaping the City’s financial condition and decisionmaking.

The City remains proactive in managing pension and other post-employment benefit obligations through long-term planning tools, including $3.5 million invested in the Section 115 trust and continued review of funding strategies. The Finance Department also continues to prepare and update a five-year General Fund forecast to support mid-year and annual xi
budget planning, helping identify opportunities and challenges before they materially affect service delivery.

Acknowledgments
The timely preparation of this report would not have been possible without the professionalism, diligence, and commitment of the City’s Finance Department and staff across the organization. I want to especially recognize our Assistant Finance Director Merilyn Tiriboyi and finance team for their work in preparing this report and maintaining strong financial reporting practices throughout the year.

I would also like to thank the Mayor and City Council for their continued leadership, support, and commitment to sound fiscal stewardship. Their policy direction and support have helped position the City to make meaningful investments while maintaining a strong financial foundation.

Fort Bragg continues to make progress in strengthening its financial position, investing in infrastructure, and preparing for the future. This report reflects that commitment and the work being done across the organization to responsibly serve our community.

Respectfully submitted,
Isaac Whippy
City Manager
City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Organization Chart
xii

Current City Council members and the dates upon which their respective terms expire are as follows:

Mayor Jason Godeke December 2026
Vice Mayor Marcia Rafanan December 2026
Councilmember Tess Albin-Smith December 2026
Councilmember Lindy Peters December 2028
Councilmember Scott Hockett December 2028

RESIDENTS OF CITY OF FORT BRAGG

CITY COUNCIL
City Council
Committees
Planning
Commission
ADMIN

SERVICES
PUBLIC
WORKS

FINANCE
Jason Godeke
Mayor

COMMUNITY
DEV’PMT POLICE
CITY

ATTORNEY
Marcia
Rafanan
Vice -Mayor
CITY

MANAGER
Lindy Peters
Councilmember
Scott Hockett
Councilmember
Tess Albin-Smith
Councilmember

FINANCIAL SECTION
¾ Independent Auditor’s Report
¾ Management’s Discussion and Analysis
¾ Basic Financial Statements
¾ Notes to the Basic Financial Statements
¾ Required Supplementary Information
¾ Combining and Individual Fund Statements and Schedules This page intentionally left blank.
7080 Donlon Way, Suite 204, Dublin, CA 94568 Ɣ phone (925) 556-6200 Ɣ fax: (707) 232-6226 1102 South Main Street, #1, Fort Bragg, CA 95437 Ɣ phone (707) 964-6325 www.jjacpa.com
1 INDEPENDENT AUDITOR’S REPORT
To the Honorable Mayor and City
Council City of Fort Bragg
Fort Bragg, California
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, the business-type activities, each major fund, the aggregate remaining fund information, and the budgetary comparison information of the City of Fort Bragg, California (City), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise City’s basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, the aggregate remaining fund information and the budgetary comparison information of the City, as of June 30, 2025, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

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

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

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
2 Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS 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 there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS and 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 on pages 4–17, the Schedule of Changes in the Net OPEB Liability and Related Ratios on page 94, the Net OPEB Liability Schedule of Contributions on page 96, the City’s Schedules of Contributions, Pensions on pages 97-98, and the Schedules of the City’s Proportionate Share of the Net Pension Liability on pages 99-100, 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. 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. 3 Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The combining and individual nonmajor fund financial statements are presented for purposes of additional analysis and are not a required part of the basic financial statements.

The combining and individual nonmajor fund financial statements 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. Such 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 combining and individual nonmajor fund financial statements 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 and Statistical Sections but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information 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 March 18, 2026, 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 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. ]]TVcT? \ÇvA March 18, 2026 JJACPA, Inc.

Dublin, CA
City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis
4 This section provides a narrative overview and analysis of the financial activities of the City of Fort Bragg (City) for the fiscal year ended June 30, 2025. It should be read in conjunction with the accompanying transmittal letter and basic financial statements.

FINANCIAL HIGHLIGHTS
ƒ Total net position increased by $14.33 million, rising from $109.86 million to $124.19 million, reflecting continued strengthening of the government’s financial position. ƒ Governmental activities net position increased by $949,884. ƒ Business type activities net position increased by $13.38 million. ƒ Total governmental fund balances increased by $669,615, ending the year at $16.19 million. ƒ The General Fund ended the year with a fund balance of $8.83 million, maintaining strong reserves. ƒ Total proprietary fund net position increased from $59.57 million to $72.94 million. ƒ The Broadband Fund was established in fiscal year 2025, ending the year with $535,445 in net position.

Additional information and analysis on the financial highlights follow in the sections and tables below.

OVERVIEW OF THE ANNUAL FINANCIAL REPORT
This Annual Comprehensive Financial Report is in three major parts:
1) Introductory section, which includes the Transmittal Letter and general information; and, 2) Financial section, which includes the Management’s Discussion and Analysis (this part), the Basic Financial Statements, which include the Government-wide and the Fund Financial Statements along with the notes to these financial statements, and Combining and Individual Fund Financial Statements and Schedules. 3) Statistical section, which includes detailed information as a context for understanding what the information in the financial statements, and footnotes says about the City's overall financial health.

The Basic Financial Statements
The Basic Financial Statements are comprised of the Government-wide Financial Statements and the Fund Financial Statements; these two sets of financial statements provide two different views of the City’s financial activities and financial position.

Government-wide Financial Statements
The Government-wide Financial Statements provide a broad overview of the City’s activities as a whole and comprise the Statement of Net Position and the Statement of Activities. The Statement of Net Position provides information about the financial position of the City as a whole, including all of its capital assets and long-term liabilities on the full accrual basis, similar to that used by corporations. The Statement of Activities provides information about all the City’s revenues and all its expenses, also on the full accrual basis, with the emphasis on measuring net revenues or expenses of each the City’s programs. The Statement of Activities explains in detail the change in Net Position for the year.

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
5 OVERVIEW OF THE ANNUAL FINANCIAL REPORT, Continued
All of the City’s activities are grouped into Governmental Activities and Business-type activities, as explained below. All the amounts in the Statement of Net position and the Statement of Activities are separated into Governmental Activities and Business-type Activities in order to provide a summary of these two activities of the City as a whole.
ו Governmental activities – All of the City’s basic services are considered to be governmental activities, including general government, community development, public safety, public works and administration.

These services are supported by general City revenues such as taxes and by specific program revenues such as developer fees.
ו Business-type activities – All the City’s enterprise activities are reported here, including Water, Wastewater (Sewer), C.V. Starr Community Center and the newly established Broadband Fund. Unlike governmental services, these services are supported by charges paid by users based on the amount of the service they use.

Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City may be divided into two categories: governmental funds and proprietary funds.

Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the Government-wide Financial Statements. However, unlike the Governmentwide Financial Statements, Governmental Fund Financial Statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements.

Because the focus of the Governmental Fund Financial Statements is narrower than that of the Governmentwide 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 Statement. By doing so, readers may better understand the long-term impact of the government’s near-term financial decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The Governmental Fund Financial Statements provide detailed information about each of the City’s most significant funds, called major funds. The concept of major funds, and the determination of which are major funds, was established by GASB Statement No. 34 and replaces the concept of combining like funds and presenting them as one total. Instead, each major fund is presented individually, with all non-major funds summarized and presented only in a single column.

Subordinate schedules present the detail of these non-major funds. Major funds present the major activities of the City for the year, and may change from year to year as a result of changes in the pattern of the City’s activities.

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
6 OVERVIEW OF THE ANNUAL FINANCIAL REPORT, Continued
For the fiscal year ended June 30, 2025, the City’s major funds are as follows:

GOVERNMENTAL FUNDS:
♦ General Fund
♦ CDBG Program Income Special Revenue
♦ Housing Successor Agency Special Revenue
♦ Prop 84 Special Revenue
♦ Other State Grants Special Revenue
♦ Other Capital Projects
For the fiscal year ended June 30, 2025, the City adopted annual appropriated budgets for all funds.

Budgetary comparison schedules have been provided for the general fund and major governmental funds to demonstrate compliance with this budget and may be found on beginning on page 34.

Proprietary funds. The City maintains enterprise-type and Internal Service proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the Government-wide Financial Statements. The City uses enterprise funds to account for Water, Wastewater, C.V. Starr Center, and Broadband activities. Internal service funds are an accounting methodology used to accumulate and allocate costs internally among the City’s various functions. The City uses internal service funds to account for its building maintenance, information technology assets, and its fleet of vehicles. Proprietary funds provide the same type of information as the Government-wide Financial Statements, only in more detail. The proprietary fund financial statements provide separate information for all of these operations.

ENTERPRISE-TYPE FUNDS:
♦ Water enterprise Fund
♦ Wastewater enterprise Fund
♦ CV Starr Center enterprise Fund
♦ Broadband Fund
Notes to the Basic Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the Government-wide and Fund Financial Statements. The notes to the basic financial statements may be found on pages 49-91 of this report. Required Supplementary Information follows the notes on page 94.

Combining and Individual Fund Financial Statements and Schedules The combining statements referred to earlier in connection with non-major governmental funds are presented on pages 103-121 of this report. Combining statements for internal services funds are presented on pages 123-125.

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
7 GOVERNMENT-WIDE FINANCIAL ANALYSIS
Net position may serve over time as a useful indicator of a government's financial position. The following table represents a comparative analysis of governmental and business-type activities' net assets as of June 30, 2025, and June 30, 2024.

Govern- Business- Govern- Businessmental type mental type Activities Activities Total Activities Activities Total Current and other assets 22,193,945 $ 19,977,478 $ 42,171,423 $ 22,128,295 $ 10,165,062 $ 32,293,357 $ Noncurrent assets 52,945,171 68,299,886 121,245,057 44,879,778 56,606,370 101,486,148 Total assets 75,139,116 88,277,364 163,416,480 67,008,073 66,771,432 133,779,505 Deferred outflows of resources 3,034,619 814,071 3,848,690 5,684,493 467,809 6,152,302 Total assets and deferred outflows of
resources 78,173,735 89,091,435 167,265,170 72,692,566 67,239,241 139,931,807 Current and other liabilities 1,804,918 1,705,817 3,510,735 1,386,262 2,130,873 3,517,135 Long-term liabilities 22,882,771 13,711,242 36,594,013 16,395,469 5,075,628 21,471,097 Total liabilities 24,687,689 15,417,059 40,104,748 17,781,731 7,206,501 24,988,232 Deferred inflows of resources 2,240,961 729,691 2,970,652 4,615,634 466,995 5,082,629 Total liabilities and deferred inflows of
resources 16,146,750 26,928,650 43,075,400 22,397,365 7,673,496 30,070,861 Net position:

Net investment in
Capital Assets 52,945,171 63,838,886 116,784,057 44,879,778 52,050,370 96,930,148 Restricted 7,474,724 643,509 8,118,233 5,839,731 108,064 5,947,795 Unrestricted (deficit) (9,174,810) 8,462,290 (712,520) (424,308) 7,407,311 6,983,003 Total net position $ 72,944,685 51,245,085 $ 124,189,770 $ 50,295,201 $ 59,565,745 $ 109,860,946 $ 2025 2024
Summary of Net Position
Analysis of Net PosiƟon
As of June 30, 2025, the City’s total net position increased to $124.19 million, an increase of $14.33 million (13.0%) from the prior year. Both governmental and business-type activities contributed to this growth, driven largely by strong capital-related revenues and continued growth in enterprise operations. The specific revenue and expense factors underlying this year-over-year change are discussed in detail in the following sections of this report.
ƒ Net investment in capital assets increased by $19.85 million, reflecting significant infrastructure investment. Major capital outlays included:
ƒ Water Treatment Plant Upgrade: $8.37 million
ƒ Streets Project infrastructure improvements: $4.70 million ƒ Municipal Broadband Project: $3.02 million
ƒ Solar Project: $3.79 million
ƒ Restricted net position increased by $2.17 million, including $1.77 million contributed to the City’s Section 115 trust.

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
8 GOVERNMENT-WIDE FINANCIAL ANALYSIS, continued
ƒ Unrestricted net position decreased from $6.98 million to $712,520, primarily due to higher long-term liabilities associated with new debt issuances (the 2025 Solar Equipment Lease Payable and the 2025 Broadband IPA Loan) and the reclassification of resources into restricted categories.

Despite these shifts, the City’s overall financial position strengthened significantly.

Analysis of Assets and Liabilities
Government-wide assets and deferred outflows increased from $139.93 million to $167.27 million, reflecting substantial growth in both restricted resources and capital investment. The primary drivers of this increase were:
ƒ Restricted cash and investments increased by $14.51 million, largely due to newly received, externally restricted proceeds from the Broadband IPA Loan and the Solar Equipment Capital Lease.

Because these proceeds are legally restricted for specific capital purposes, they expand the City’s restricted asset base rather than its discretionary resources. ƒ Capital assets increased by $19.76 million, with growth occurring across both activity types:
ƒ Governmental activities: $8.07 million
ƒ Business-type activities: $11.69 million
This growth reflects the major capital projects outlined in the Net investment in capital assets section, including the Water Treatment Plant Upgrade, Streets Project improvements, Municipal Broadband Project, and Solar Project.

Total liabilities and deferred inflows increased from $30.07 million to $43.08 million, primarily due to:
ƒ New long-term debt in both governmental and business-type activities associated with new debt issuances (the 2025 Solar Equipment Lease Payable and the 2025 Broadband IPA Loan).

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
9 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Analysis of Statement of Activities
The Primary Government’s net position increased 13%, rising from $109.86 million to $124.19 million, primarily due to a substantial increase in capital grant revenue. The following table shows the revenue, expenses, and changes in net position for governmental and business-type activities:

Govern- Business- Govern- Businessmental type mental type Activities Activities Total Activities Activities Total Revenues:

Program revenues:

Charges for services 5,344,055 $ 7,518,352 $ 12,862,407 $ 5,737,381 $ 7,402,248 $ 13,139,629 $ Grants and contributions:

Operating 4,523,442 - 4,523,442 2,799,940 - 2,799,940
Capital 11,052,154 100,000 11,152,154 1,674,319 350 1,674,669 General revenues:

Property taxes and assessments 1,343,515 326,804 1,670,319 1,272,386 309,827 1,582,213 Sales and use tax 3,712,189 1,350,872 5,063,061 3,260,936 1,169,582 4,430,518 Transient occupancy taxes 3,158,742 - 3,158,742 3,092,214 - 3,092,214 Other taxes 846,840 - 846,840 974,149 - 974,149
Unrestricted investment earnings 896,678 392,028 1,288,706 659,402 495,098 1,154,500 Other general 99,810 2,084,023 2,183,833 1,172,214 - 1,172,214 Total revenues 30,977,425 11,772,079 42,749,504 20,642,941 9,377,105 30,020,046 Expenses:

Governmental activities:

General government 4,137,959 - 4,137,959 3,795,646 - 3,795,646 Public safety 5,867,730 - 5,867,730 5,981,475 - 5,981,475 Public works 4,417,489 - 4,417,489 3,927,091 - 3,927,091 Community development 1,586,244 - 1,586,244 1,219,080 - 1,219,080 Marketing and promotion 236,514 236,514 237,178 237,178 Interest and fiscal charges 533,329 - 533,329 244,957 - 244,957 Business-type activities:

Water - 2,885,947 2,885,947 - 3,357,505 3,357,505
Wastewater - 4,960,709 4,960,709 - 3,639,203 3,639,203
C.V. Starr Center - 3,613,759 3,613,759 - 2,875,258 2,875,258 Broadband - 181,000 181,000 - - -
Total expenses 16,779,265 11,641,415 28,420,680 15,405,427 9,871,966 25,277,393 Excess (Deficiency) of revenues over
expenditures before transfers 14,198,160 130,664 14,328,824 5,237,514 (494,861) 4,742,653 Transfers (13,248,276) 13,248,276 - 204,063 (204,063) - Change in net position 949,884 13,378,940 14,328,824 5,441,577 (698,924) 4,742,653 Net position:

Beginning of year 50,295,201 59,565,745 109,860,946 44,853,624 60,264,669 105,118,293 End of year 51,245,085 $ 72,944,685 $ 124,189,770 $ 50,295,201 $ 59,565,745 $ 109,860,946 $ 2025 2024
Changes in Net Position
Revenues
The City's total government-wide revenues increased from $30.02 million in fiscal year 2024 to $42.75 million in fiscal year 2025, a substantial increase of $12.73 million (42.4%). Revenues are divided into two categories:
program revenues and general.

Program revenues increased by $10.92 million (62%) compared to the prior year. The primary drivers of this growth were:

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
10 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Program revenues had an overall decrease of $2.5 million or -12%, from the prior year.

1. Capital contributions and grants, which rose by $9.48 million, reflecting significant capital funding activity for the Water Treatment Plant Overhaul Project and the Raw Water Line Replacement Project.

2. Operating grants and contributions, which increased by $1.72 million. This was largely due to:
ƒ $1.29 million in reimbursement revenue for the Broadband Project through the Federal Funding Account grant, and
ƒ $524,229 in reimbursement revenue for the Water Meter Replacement Project, funded by the Community Development Block Grant (CDBG) program.

General revenues had an overall increase of $1.81 million or 15%, ending the year at $14,211,501. The City’s 3 most significant general revenue sources - property taxes, sales & use tax, and transient occupancy tax - accounted for some of this change.
ƒ Property taxes increased by $88,106 (6%) reflecting continued stability and predictable growth in the City’s assessed valuation.
ƒ Sales & use tax increased by $633,000 (14%), compared to fiscal year 2024. Of this amount, $226,000 resulted from the voter-approved Measure T rate increase effective April 1, 2025. The remaining $407,000 reflects ongoing growth in taxable sales and inflationary price impacts. ƒ Transient occupancy tax (TOT) increased by $66,528, primarily due to the partial-year implementation of Measure U, which raised the TOT rate from 12% to 14% effective April 1, 2025.

Because the rate change applied to only one quarter of the fiscal year and lodging activity remained stable, the overall revenue impact was modest.

Revenues by source for the fiscal years ended June 30, 2025, and 2024, are as follows:

Charges for
Services
Capital
Grants
Sales & Use
Tax
Transient
Occupancy
Tax
Operating
Grants
Property
Taxes
Franchise
Taxes
Other
Taxes
Interest &
other
2025 5,344 11,052 3,712 3,159 4,523 1,343 621 226 997
2024 5,737 1,674 3,261 3,092 2,800 1,272 762 213 1,832
0 2,000
4,000
6,000
8,000
10,000
12,000
In Thousands
Revenue - Governmental Activities
City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
11 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Expenses
In fiscal year 2025, the City’s governmental and business-type activity expenses totaled $28.42 million, an increase of $3.14 million, or 12%, compared to the prior fiscal year. The most significant increases occurred within business-type activities, primarily in the Wastewater Fund and the C.V. Starr Community Center, driven largely by higher pension expense. Pension expense rose due to the required GASB 68 actuarial adjustment, as updated CalPERS valuations reflected higher net pension liabilities and changes in deferred inflows and outflows of resources resulting from investment performance and revised actuarial assumptions.

These factors increased the amount of pension expense recognized under GASB 68 for the fiscal year. • Governmental expenses made up 59% of the total costs, amounting to $16.78 million, with public safety and public works being the largest components, followed by general government and community development.
• Business-type activities accounted for $11.64 million, or 41% of the City's total expenses for the fiscal year.

Charges for
Services Capital Grants Sales & Use Tax Property Taxes Interest & other 2025 7,518 100 1,351 327 2,476
2024 7,402 0 1,170 310 495
0 1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
In Thousands
Revenue - Business-type Activities
City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
12 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Expense by activity for the fiscal years ended June 30, 2025, and 2024, are as follows:

Public Safety Public Works General
Government
Community
Development
Marketing
and
promotion
Interest and
Fiscal Charges
2025 5,868 4,417 4,138 1,586 237 533
2024 5,981 3,927 3,796 1,219 237 245
0 1,000
2,000
3,000
4,000
5,000
6,000
7,000
In Thousands
Expenses - Governmental Activities
Wastewater
Enterprise C.V. Starr Center Water Enterprise Broadband 2025 4,961 3,613 2,886 181
2024 3,639 2,875 3,358 0
0 1,000
2,000
3,000
4,000
5,000
6,000
In Thousands
Expense - Business-Type Activities
City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
13 GOVERNMENT-WIDE FINANCIAL ANALYSIS, Continued
Net Program Costs
The following table shows each of the City's major programs and the programs' net cost. Net cost is the total cost less fees and other direct revenue generated by the activities. The net cost reflects the financial burden placed on the City's taxpayers by each of the programs. The total cost of services and the net cost of services for the fiscal years ended June 30, 2025, and 2024 are as follows:

Total Cost Net Cost Total Cost Net Cost
of Services of Services of Services of Services
General government $ 1,058,714 4,137,959 $ 3,795,646 $ 1,477,375 $ Public safety 4,938,352 5,867,730 5,981,475 5,080,108
Public works (8,903,789) 4,417,489 3,927,091 (1,025,345) Community development (2,003,506) 1,586,244 1,219,080 (820,486) Marketing and promotions 236,514 236,514 237,178 237,178 Interest and fiscal charges 533,329 533,329 244,957 244,957 Total 16,779,265 $ (4,140,386) $ 15,405,427 $ 5,193,787 $ 2025 2024

FUND FINANCIAL ANALYSIS
The City of Fort Bragg uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The fund financial statements focus on individual parts of the City government, reporting the City's operations in more detail than the government-wide financial statements.

Governmental funds
The City's governmental funds provide information on near-term inflows, outflows, and balances of spending resources. As of June 30, 2025, the City's governmental funds reported combined fund balances of $16.19 million, an increase of $669,615 from the previous year’s total of $15.52 million Governmental fund assets totaled $30.47 million, driven by cash and investments ($5.86 million), restricted cash and investments ($7.78 million), loans and notes receivable ($5.09 million), interest receivable ($4.38 million), due from other funds ($3.79 million), and other receivables ($3.18 million). The increase in restricted cash and investments reflects newly received, externally restricted proceeds from the Solar Equipment Capital Lease.

Governmental fund liabilities were $9.47 million, consisting mainly of due to other funds ($8.04 million), accounts payable and accrued liabilities ($1.07 million) and deposits payable ($155,065). The elevated due-to-other-funds balance reflects temporary financing for capital projects and timing differences in grant reimbursements.

Deferred inflows totaled $4.81 million, consisting of unavailable revenue from loans and notes receivable ($4.61 million) and other unavailable revenues ($201,407). These amounts represent resources not yet available for current spending, largely tied to long-term housing and community development loans.

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
14 FUND FINANCIAL ANALYSIS, Continued
Governmental fund Revenues & Expenditures
Governmental fund revenues totaled $30.98 million, while expenditures were $25.68 million, resulting in a $5.3 million excess of revenues over expenditures. Intergovernmental revenues were the largest source at $15.79 million, driven primarily by $10.41 million in grant-funded capital support for the Water Treatment Plant Overhaul and Raw Water Line Replacement projects. Taxes and assessments provided $9.06 million, reflecting continued strength in property, sales and use, and transient occupancy taxes.

On the expenditure side, capital outlay was the largest category at $10.08 million, followed by public safety ($5.24 million) and general government ($3.73 million). These expenditures reflect ongoing investment in infrastructure and continued support for core municipal services.

General Fund
The General Fund, the City’s primary operating fund, ended fiscal year 2025 with a balance of $8.83 million, a slight decrease of $347,581. This modest decline reflects normal operating activity and the timing of revenues. The General Fund also provided temporary financing for capital projects experiencing short-term cash deficits due to the lag between expenditures and grant reimbursements.

Despite the small decrease, the General Fund remains financially strong, supported by stable tax revenues and prudent expenditure management.

Enterprise Funds
The City operates four business-type activities: Water, Wastewater, the C.V. Starr Community Center, and the newly established Broadband Fund. As of June 30, 2025, total enterprise fund net position increased from $59.57 million to $72.94 million, an increase of $13.38 million. This increase is driven primarily by major capital investment in the Water Fund, including the Water Treatment Plant Overhaul ($8.37 million), Raw Water Line Replacement ($2.87 million), and Water Meter Replacement ($2.56 million). These projects represent significant reinvestment in the City’s core utility infrastructure and are expected to enhance long-term system reliability.

Water Fund
The Water Fund’s net position increased significantly to $30.02 million, up from $16.67 million. The increase is primarily attributable to the major capital projects noted above. Current assets decreased due to the use of cash for capital construction, while long-term liabilities decreased. A $13.04 million transfer in supported capital activity, resulting in a total increase in net position of $13.35 million.

Sewer Fund
The Sewer Fund’s net position decreased from $22.84 million to $21.47 million. Current assets declined slightly, and long-term liabilities decreased due to scheduled debt payments. The fund reported an operating loss of $1.31 million, primarily driven by changes in cost allocation methodology following an outsourced true-up process that applied a more streamlined approach.

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
15 FUND FINANCIAL ANALYSIS, Continued
C.V. Starr Community Center Fund
The C.V. Starr Center Fund’s net position increased to $20.93 million, up from $20.06 million. Current assets increased, while capital assets remained stable. The fund reported an operating loss of $2.73 million, driven by higher personnel, administrative, and utility costs. Strong non-operating revenues including $1.35 million in sales tax, $326,804 in property tax, and $2.08 million in other non-operating revenues, offset the operating deficit. After a $393,794 transfer out, net position increased by $869,480.

Broadband Fund
The Broadband Fund was newly established in fiscal year 2025 and ended the year with a net position of $535,445, all restricted for debt service. The fund reflects initial capitalization of the broadband infrastructure program, including $8.42 million in restricted cash. No operating activity occurred, and capital assets have not yet been placed into service.

General Fund Budgetary Highlights
The fund financial statements detail a budget-to-actual comparison for the City's major governmental funds, illustrating compliance with City Council-authorized appropriations.

Fund Balance
The General Fund ended the fiscal year in a stronger position than anticipated in the final budget. While the budget projected a decrease in fund balance of approximately $2.0 million, the actual decrease was $347,581, resulting in an ending fund balance of $8.83 million, about $1.62 million higher than expected. This favorable outcome reflects both higher-than-budgeted revenues and lower-than-anticipated expenditures across several functional areas.

Revenues
Revenues exceeded the final budget by $1.08 million. The most significant positive variances occurred in reimbursements, and investment earnings, each outperforming expectations due to higher recoverable costs, and stronger investment returns. These gains offset shortfalls in intergovernmental revenues, which came in below budget primarily due to timing and availability of grant funding.

Expenditures
Expenditures were $1.48 million below the final budget. The variance was driven largely by the deferral of planned capital outlay, lower internal service cost allocations, and savings within public safety and public works operations. Most departments remained within their appropriations, and several achieved meaningful operational efficiencies during the year.

Other financing uses exceeded the budget due to higher transfers out to support other City funds; however, this impact was partially offset by higher-than-expected transfers in. Overall, the City’s conservative spending and stronger-than-anticipated revenue performance contributed to a year-end fund balance that positions the General Fund favorably for the upcoming fiscal year.

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
16 FUND FINANCIAL ANALYSIS, Continued
Capital Assets
At the end of fiscal year 2025, the City’s investment in capital assets for its governmental and business-type activities totaled $121.25 million, an increase of $19.76 million from the prior year. This investment in capital assets includes land, construction in progress costs, buildings, machinery and equipment, infrastructure, and land improvements, as shown in the chart below. Capital assets are reported net of accumulated depreciation.
2025 2024 2025 2024 2025 2024
Land 12,952,262 $ 12,952,262 $ 3,210,698 $ 3,210,698 $ 16,162,960 $ 16,162,960 $ Construction in progress 8,594,444 4,671,669 17,478,518 6,577,339 26,072,962 11,249,008 Buildings 1,807,097 1,370,743 17,986,322 18,716,865 19,793,419 20,087,608 Machinery, equipment and vehicl 2,512,076 2,149,906 4,233,180 1,778,684 6,745,256 3,928,590 Infrastructure 27,079,292 23,735,198 25,391,168 26,322,784 52,470,460 50,057,982 Land improvements - - - - - -
Total 52,945,171 $ 44,879,778 $ 68,299,886 $ 56,606,370 $ 121,245,057 $ 101,486,148 $ Governmental Activities Totals Business-type Activities For governmental activities, capital assets increased by $8.07 million. The most significant changes occurred within construction in progress (CIP), which rose from $4.67 million to $8.59 million. This increase was driven primarily by two major projects: the Municipal Broadband Project, with current-year activity totaling $3.02 million, and the Citywide Solar Project, which added $3.79 million during the year. The increase in CIP was partially offset by the capitalization of the 2022 Streets Rehabilitation Project, which transferred $3.78 million out of CIP and into infrastructure upon completion.

For business-type activities, capital assets increased by $11.69 million, driven primarily by major capital investment in the Water Fund. Significant projects underway during the fiscal year included the Water Treatment Plant Overhaul ($8.37 million), the Raw Water Line Replacement ($2.87 million), and the Water Meter Replacement Program ($2.56 million).

Additional details on capital assets and related activities are presented in the notes to the financial statements.

Debt Administration
As of June 30, 2025, the City’s total outstanding long-term debt was $27.89 million, an increase of $15.55 million from the prior year. The increase reflects the City’s continued investment in major capital initiatives across both governmental and business-type activities.

During the year, the City issued two significant new debt instruments to support priority capital projects. For governmental activities, the City entered into the 2025 Solar Equipment Lease Payable, providing financing for the Citywide Solar Project. In addition, the 2025 Broadband IPA Loan was issued to advance the Municipal Broadband Project. These new obligations account for the majority of the year-over-year increase in outstanding debt.

City of Fort Bragg, California
Annual Comprehensive Financial Report
For the year ended June 30, 2025
Management’s Discussion and Analysis, Continued
17 Debt Administration, Continued
The City continues to manage its debt portfolio prudently, ensuring that new issuances align with long-term capital planning and maintain the City’s overall financial flexibility. Additional details on long-term liabilities are presented in the notes to the financial statements.

Requests for Information
This financial report is designed to provide our citizens, taxpayers, creditors, and government regulators with a general overview of the City's finances and to demonstrate the City's accountability for the money it receives. Additional information may be found on our website at www.fortbragg.com. Below is the contact address for questions about the report or requests for additional financial information.

City of Fort Bragg
Finance Department
416 No. Franklin St.

Fort Bragg, CA 95437
707-961-2825
18 This page intentionally left blank.

BASIC FINANCIAL STATEMENTS
19 This page intentionally left blank.
20 City of Fort Bragg, California
Statement of Net Position
June 30, 2025
Governmental Business-type
Activities Activities Total
ASSETS
Cash and investments $ 6,973,476 6,351,644 $ 13,325,120 $ Restricted cash and investments 8,623,319 7,780,623 16,403,942 Receivables:

Accounts 1,155,148 6,031,700 7,186,848
Loans/Notes receivable - 5,131,647 5,131,647
Internal balances 3,104,478 (3,104,478) -
Inventory 121,057 - 121,057
Prepaid items - 2,809 2,809
Total current assets 19,977,478 22,193,945 42,171,423
Capital assets:

Nondepreciable 21,546,706 20,689,216 42,235,922
Depreciable 47,610,670 31,398,465 79,009,135
Total noncurrent assets 68,299,886 52,945,171 121,245,057 Total assets 88,277,364 75,139,116 163,416,480

DEFERRED OUTFLOWS OF RESOURCES
Pension plan 814,071 2,500,101 3,314,172
OPEB, deferred outflow - 534,518 534,518
Total deferred outflows of resources 814,071 3,034,619 3,848,690 Total assets and deferred outflows $ 89,091,435 78,173,735 $ 167,265,170 $

LIABILITIES
Accounts payable and accrued liabilities 1,424,179 1,163,615 2,587,794 Interest payable - 187,923 187,923
Deposits payable 171,420 155,065 326,485
Compensated absences - current portion 13,218 73,315 86,533 Due within one year 97,000 225,000 322,000
Total current liabilities 1,705,817 1,804,918 3,510,735 Long-term liabilities:

Compensated absences 659,829 119,786 779,615
Due after one year 12,243,810 15,324,376 27,568,186
Net OPEB liability 2,759,794 - 2,759,794
Net pension liability 1,347,646 4,138,772 5,486,418
Total noncurrent liabilities 13,711,242 22,882,771 36,594,013 Total liabilities 15,417,059 24,687,689 40,104,748

DEFERRED INFLOWS OF RESOURCES
Pension plan 729,691 2,240,961 2,970,652
Total deferred inflows of resources 729,691 2,240,961 2,970,652 Total liabilities and deferred inflows 16,146,750 26,928,650 43,075,400

NET POSITION
Net investment in capital assets 63,838,886 52,945,171 116,784,057 Restricted for:

Retirement 3,560,798 3,560,798
CDBG Program Income - 565,691 565,691
Housing 455,454 455,454
Gas Tax - 34,197 34,197
State and Federal Grants - 1,861,929 1,861,929
Special Sales Tax - 699,382 699,382
Asset Forfeiture - 297,273 297,273
Debt Service 643,509 - 643,509
Unrestricted 8,462,290 (9,174,810) (712,520)
Total net position 72,944,685 51,245,085 124,189,770
Total liabilities, deferred inflows and net position $ 89,091,435 78,173,735 $ 167,265,170 $ The accompanying notes are an integral part of these basic financial statements. 21 City of Fort Bragg, California
Statement of Activities
For the year ended June 30, 2025
Operating Capital
Charges for Grants and Grants and
Functions/Programs Expenses Services Contributions Contributions Primary government:

Governmental activities:

General government $ 2,611,098 4,137,959 $ 425,206 $ 42,941 $ Public safety 317,155 612,223 - 5,867,730
Public works 2,018,934 456,638 10,845,706 4,417,489
Community development 396,868 1,586,244 3,029,375 163,507 Marketing and promotions - 236,514 - -
Interest and fiscal charges - 533,329 - -
Total governmental activities 16,779,265 5,344,055 4,523,442 11,052,154 Business-type activities:

Water 3,050,432 2,885,947 - 100,000
Wastewater 3,565,617 4,960,709 - -
CV Starr Center 902,303 3,613,759 - -
Broadband - 181,000 - -
Total business-type activities 11,641,415 7,518,352 - 100,000 Total primary government $ 12,862,407 28,420,680 $ 4,523,442 $ 11,152,154 $ General revenues:

Taxes:

Property taxes, levied for general purposes
Sales and use taxes
Transient occupancy tax, levied for general purposes
Franchise taxes
Other taxes
Unrestricted investment earnings
Other general revenues
Total general revenues
Transfers
Total general revenues and transfers
Change in net position
Net position:

Beginning of year
End of year
Program Revenues
The accompanying notes are an integral part of these basic financial statements. 22 Governmental Business-Type
Activities Activities Totals
$ - (1,058,714) $ (1,058,714) $
- (4,938,352) (4,938,352)
- 8,903,789 8,903,789
- 2,003,506 2,003,506
- (236,514) (236,514)
- (533,329) (533,329)
- 4,140,386 4,140,386
264,485 - 264,485
(1,395,092) - (1,395,092)
(2,711,456) - (2,711,456)
(181,000) - (181,000)
(4,023,063) - (4,023,063)
(4,023,063) 4,140,386 117,323
1,343,515 326,804 1,670,319
3,712,189 1,350,872 5,063,061
3,158,742 - 3,158,742
620,770 - 620,770
226,070 - 226,070
392,028 896,678 1,288,706
2,084,023 99,810 2,183,833
4,153,727 10,057,774 14,211,501
13,248,276 (13,248,276) -
17,402,003 (3,190,502) 14,211,501
13,378,940 949,884 14,328,824
59,565,745 50,295,201 109,860,946
$ 72,944,685 51,245,085 $ 124,189,770 $
Net (Expense) Revenue and
Changes in Net Position
23 This page intentionally left blank.
24 Fund
Governmental Funds: Governmental funds are used for taxes and grants.

General
CDBG Program Income Special Revenue
Housing Successor Agency
Prop 84 Grant
Other State Grants
Other Capital Projects
Accounts for activities related to housing rehabilitation and business assistance loans provided with CDBG funding.

Accounts for activities related to housing activities of the former Fort Bragg Redevelopment Agency.

To account for monies received from the State of California for construction projects.

To account for all other State Grants. Includes grant monies recevied from the State of California for purchase of off highway vehicles for use by the City Police Department.

These funds account for construction or acquisition of
governmental capital assets (capital outlay).

FUND FINANCIAL STATEMENTS
Description
Primary operating fund of the City; accounts for all activities except those legally or administratively required to be accounted for in other funds.

MAJOR FUNDS
25 City of Fort Bragg, California
Balance Sheet
Governmental Funds
June 30, 2025
CDBG Housing
General Program Income Successor
Fund Special Revenue Special Revenue
ASSETS
Cash and investments $ 466,850 66,614 $ 205,454 $
Restricted cash and investments 3,560,798 - -
Receivables:

Taxes 2,976 - -
Interest - 2,092 -
Intergovernmental - - -
Loans/Notes receivable 2,092,188 2,863,875 2,769
Other receivable 1,518,378 - -
Due from other funds 3,794,158 - -
Advances to other funds 209,110 - -
Prepaid items 2,809 - -
Total assets $ 2,559,038 9,159,704 $ 3,069,329 $

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities 278,099 $ - $ - $ Due to other funds - - -
Deposits payable 50,828 - -
Advances from other funds - - -
Total liabilities - 328,927 -
Deferred inflows of resources:

Unavailable revenue - 1,993,347 2,613,875
Total deferred inflows of resources: 1,993,347 - 2,613,875 Total Liabilities and deferred inflows 1,993,347 328,927 2,613,875 Fund balances:

Nonspendable
Prepaids 2,809 - -
Advances to other funds 209,110 -
Loans/Notes receivable 2,769 - -
Restricted 3,560,798 565,691 455,454
Committed:

Operating reserve 1,989,419 - -
Recession reserve 489,929 - -
Litigation reserve 200,000 - -
Assigned - - -
Unassigned (deficit) 2,375,943 - -
Total fund balances 565,691 8,830,777 455,454
balances $ 2,559,038 9,159,704 $ 3,069,329 $
The accompanying notes are an integral part of these basic financial statements.

Major Funds
26 Other Nonmajor
Prop 84 Grant State Grants Other Governmental
Special Revenue Special Revenue Capital Projects Funds Totals $ 20,627 122,266 $ - $ 4,978,808 $ 5,860,619 $
- - 4,219,825 - 7,780,623
- - - - 2,976
- - - - 2,092
1,072,200 1,842,159 171,483 1,292,247 4,378,089
- - - 172,815 5,131,647
- - - 130,165 1,648,543
- - 1,454,697 202,879 5,451,734
- - - - 209,110
- - - - 2,809
$ 1,862,786 1,194,466 $ 5,846,005 $ 6,776,914 $ 30,468,242 $ $ 5,953 - $ 733,791 $ 52,915 $ 1,070,758 $
1,497,704 2,028,374 3,281,993 1,230,083 8,038,154
- - - 104,237 155,065
- - 209,110 - 209,110
1,503,657 2,028,374 4,224,894 1,387,235 9,473,087
- - - 201,407 4,808,629
- - - 201,407 4,808,629
1,503,657 2,028,374 4,224,894 1,588,642 14,281,716
- - - - 2,809
- - - - 209,110
- - - - 2,769
359,129 - - 2,533,652 7,474,724
- - - - 1,989,419
- - - - 489,929
- - - - 200,000
- - 1,621,111 2,790,810 4,411,921
- (833,908) - (136,190) 1,405,845
359,129 (833,908) 1,621,111 5,188,272 16,186,526
$ 1,862,786 1,194,466 $ 5,846,005 $ 6,776,914 $ 30,468,242 $ Major Funds
27 City of Fort Bragg, California
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
June 30, 2025
Total fund balances - total governmental funds $ 16,186,526 50,663,366
Compensated absences (733,144) $
Lease payable (15,549,376)
Net OPEB obligation (2,759,794)
Net pension liability (4,138,772) (23,181,086)
4,808,629
(187,923)
Deferred outflows, Pension 2,500,101
Deferred inflows, Pension (2,240,961)
Deferred outflows, OPEB 534,518
Deferred inflows, OPEB - 793,658
Current assets 491,025
Noncurrent assets 2,281,805
Accounts payable and accrued liabilities (610,915) 2,161,915 Net Position of governmental activities $ 51,245,085
The accompanying notes are an integral part of these basic financial statements.

Internal services funds are used by management to charge the costs of certain activities, such as fleet services, to individual funds. The assets and liabilities of the internal service funds are:

Capital assets used in governmental activities are not current financial resources and, therefore, are not reported in the governmental funds balance sheet.

Amounts reported for governmental activities in the Statement of Net Position are different because:

Interest payable on long-term debt does not require the use of current financial resources and, therefore, is not reported in the governmental funds.

Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the governmental funds balance sheet.

Governmental funds notes receivable from various loan programs are deferred under the current financial resources measurement focus. The notes receivable are recognized in the government-wide Statement of Net Position under the accrual basis of accounting.

Pension obligations result in deferred outflows and inflows of resouces associated with the actuarial value of contributions, assets, and liaiblities 28 City of Fort Bragg, California
Reconciliation of Fund Basis Balance Sheet to Government-wide Statement of Net Position Governmental Activities
June 30, 2025
Governmental Internal
Funds Changes Services Statement of
Balance Sheet Reclassifications in GAAP Balances Net Position ASSETS
Current assets:

Cash and investments $ - 5,860,619 $ - $ 491,025 $ 6,351,644 $ Restricted cash and investments - 7,780,623 - - 7,780,623 Receivables:

Taxes - 2,976 - - 2,976
Interest - 2,092 - - 2,092
Intergovernmental - 4,378,089 - - 4,378,089
Other receivable - 1,648,543 - - 1,648,543
Loans/Notes receivable - 5,131,647 - - 5,131,647
Due from other funds 5,451,734 - (5,451,734) - -
Advances to other funds 209,110 - (209,110) - -
Internal balances - - (3,104,478) - (3,104,478)
Inventory - - - - -
Prepaid items - 2,809 - - 2,809
Total current assets 30,468,242 - (8,765,322) 491,025 22,193,945 Noncurrent assets:

Capital assets, net - - 50,663,366 2,281,805 52,945,171 Total noncurrent assets - - 50,663,366 2,281,805 52,945,171

DEFERRED OUTFLOWS OF RESOURCES
Pension plan - - 2,500,101 - 2,500,101
OPEB - - 534,518 - 534,518 Total assets and deferred outflows of resources $ 30,468,242 $ 53,697,985 (8,765,322) $ 2,772,830 $ 78,173,735 $

LIABILITIES
Current liabilities:

Accounts payable and accrued liabilities $ - 1,070,758 $ - $ 92,857 $ 1,163,615 $ Interest payable - - 187,923 - 187,923
Due to other funds 8,038,154 - (8,556,212) 518,058 - Deposits payable - 155,065 - - 155,065 Advances from other funds 209,110 - (209,110) - -
Compensated absences - current portion - - 73,315 - 73,315 Due within one year - - 225,000 - 225,000
Total current liabilities 9,473,087 486,238 (8,765,322) 610,915 1,804,918 Noncurrent liabilities:

Long-term liabilities:

Compensated absences - - 659,829 - 659,829
Due after one year - - 15,324,376 - 15,324,376
Net OPEB obligation - - 2,759,794 - 2,759,794
Net pension liability - - 4,138,772 - 4,138,772
Total noncurrent liabilities - - 22,882,771 - 22,882,771 Total liabilities 9,473,087 23,369,009 (8,765,322) 610,915 24,687,689

DEFERRED INFLOWS OF RESOURCES
Unavailable revenue - 4,808,629 - (4,808,629) -
Pension Plan - - 2,240,961 - 2,240,961
OPEB, deferred inflow - - - - -
Total liabities and deferred inflows: 14,281,716 20,801,341 (8,765,322) 610,915 26,928,650

FUND BALANCES/NET POSITION
Fund balances:

Nonspendable 214,688 - (214,688) - -
Restricted 7,474,724 - (7,474,724) - -
Committed 2,679,348 - (2,679,348) - -
Assigned 4,411,921 - (4,411,921) - -
Unassigned (deficit) 1,405,845 - (1,405,845) - - - Net position: - Net investment in capital assets - - 50,663,366 2,281,805 52,945,171 Restricted - - 7,474,724 - 7,474,724
Unrestricted 16,186,526 - (25,241,446) (119,890) (9,174,810) Total fund balances/net position - 16,186,526 32,896,644 2,161,915 51,245,085 Total liabilities, deferred inflows and net position $ 30,468,242 $ 53,697,985 (8,765,322) $ 2,772,830 $ 78,173,735 $ The accompanying notes are an integral part of these basic financial statements. 29 City of Fort Bragg, California
Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
For the year ended June 30, 2025
Housing
CDBG Successor
General Program Income Agency Prop 84
Fund Special Revenue Special Revenue Special Revenue
REVENUES:

Taxes and assessments $ - 7,753,433 $ - $ - $
Licenses and permits - 84,412 - -
Fines and forfeitures - 57,175 - -
Intergovernmental - 630,749 - 10,411,810
Use of money and property 147,371 586,771 6,407 -
Charges for services - 88,333 - -
Reimbursements - 4,406,430 - -
Other revenues - 94,680 - -
Total revenues 147,371 13,701,983 6,407 10,411,810
EXPENDITURES:

Current:

General government 3,731,803 - - -
Public safety 4,804,301 - - -
Public works 1,704,133 - - -
Community development 342,253 159,947 - -
Marketing and promotions 236,514 - - -
Cost allocations 1,871,041 - - -
Capital outlay - - - -
Debt service:

Principal - 190,000 - -
Interest and fiscal charges - 241,439 - -
Total expenditures 159,947 13,121,484 - -

REVENUES OVER (UNDER)
EXPENDITURES (12,576) 580,499 6,407 10,411,810
OTHER FINANCING SOURCES (USES):

Proceeds from bonds issued - - - -
Proceeds from sales of assets 1,325 - - -
Transfers in 1,057,943 347,795 - -
Transfers out (1,987,348) - - (12,594,643)
Total other financing sources (uses) 347,795 (928,080) - (12,594,643) Net change in fund balances 335,219 (347,581) 6,407 (2,182,833) FUND BALANCES (DEFICITS):

Beginning of year 9,178,358 230,472 449,047 1,348,925
End of year $ 565,691 8,830,777 $ 455,454 $ (833,908) $ The accompanying notes are an integral part of these basic financial statements.

Major Funds
30 Other Other
State Grants Other Governmental
Special Revenue Capital Projects Funds Totals
$ - - $ 1,307,853 $ 9,061,286 $
- - - 84,412
- - 100,806 157,981
2,240,659 - 2,507,547 15,790,765
232,837 - 224,665 1,198,051
- - 95,487 183,820
- - - 4,406,430
- - - 94,680
232,837 2,240,659 4,236,358 30,977,425
- - 550 3,732,353
- - 435,493 5,239,794
25,000 - 588,645 2,317,778
- 339,884 652,238 1,494,322
- - - 236,514
- - - 1,871,041
9,705,621 - 377,540 10,083,161
- - - 190,000
275,535 - - 516,974
10,006,156 339,884 2,054,466 25,681,937
(9,773,319) 1,900,775 2,181,892 5,295,488
7,980,000 - - 7,980,000
- - - 1,325
1,396,252 3,356,779 6,158,769
- (1,643,737) (2,540,239) (18,765,967)
11,336,779 (1,643,737) (1,143,987) (4,625,873)
1,563,460 257,038 1,037,905 669,615
102,091 57,651 4,150,367 15,516,911
$ 1,621,111 359,129 $ 5,188,272 $ 16,186,526 $
Major Funds
31 City of Fort Bragg, California
Reconciliation of Fund Basis Statements to Government-wide Statement of Activities For the year ended June 30, 2025
Compensated Capital
Absences/ Asset GovernmentFund Based Debt Internal (Additions)/ Cost OPEB Unavailable wide Functions/Programs Totals Service Service Depreciation Retirements Allocation Obligation Pension plan Revenue Totals Governmental activities:

General government $ 148,454 3,732,353 $ 224,548 $ 89,417 $ - $ 183,309 $ 115,659 $ (355,781) $ - $ 4,137,959 $ Public safety - 5,239,794 - 40,587 - 1,086,824 - (499,475) - 5,867,730 Public works - 2,317,778 - 1,362,231 542,332 416,087 - (220,939) - 4,417,489 Community development - 1,494,322 - - - 184,821 - (142,444) 49,545 1,586,244 Marketing and promotions - 236,514 - - - - - - - 236,514 Cost allocations - 1,871,041 - - - (1,871,041) - - - -
Capital outlay 10,083,161 - - - (10,083,161) - - - - -
Debt service/Interest 706,974 (173,645) - - - - - - - 533,329 Total governmental activities $ (25,191) 25,681,937 $ 224,548 $ 1,492,235 $ (9,540,829) $ - $ 115,659 $ (1,218,639) $ 49,545 $ 16,779,265 $ The accompanying notes are an integral part of these basic financial statements. 32 City of Fort Bragg, California
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities For the year ended June 30, 2025
Net change in fund balances - total governmental funds $ 669,615 Capital asset purchases capitalized $ 9,540,829
Proceeds from sale of capital assets (1,325)
Depreciation expense (1,492,235) 8,047,269
(49,545)
Bonds payable 190,000
Bond proceeds (7,980,000)
Change in interst payable (16,355)
Change in compensated absences (148,454) (164,809)
Net OPEB obligation (115,659)
Net Pension obligation 1,218,639 1,102,980
(865,626)
Change in Net Position of governmental activities $ 949,884 Amounts reported for governmental activities in the Statement of Activities are different because:

Some expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds:

The accompanying notes are an integral part of these basic financial statements.

Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long-term liabilities in the Statement of Net Position:

Governmental funds report capital outlays as expenditures while governmental activities report depreciation expense to allocate those expenditures over the life of the assets:

Certain notes receivable are reported in the governmental funds as expenditures and then offset by a deferred revenue as they are not available to pay current expenditures.

Likewise, when the note is collected it is reflected in revenue. This is the net change between notes receivable collected and issued.

Certain employee benefit obligations are recorded on a pay-as-you-go basis in the governmental funds, but are accrued as liabilities in the Statement of Net Position:

Internal services funds are used by management to charge the costs of certain activities, such as fleet services, to individual funds. The change in Net Position of the Internal Service Funds net of capital assets are included in the governmental activities in the government-wide Statement of Net Position.

The issuance of long-term debt (e.g., bonds) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. This amount is the net effect of these differences in the treatment of long-term debt and related items. 33 City of Fort Bragg, California
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual - General and Major Special Revenue Funds For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Taxes and assessments 7,372,684 $ 7,710,184 $ 7,753,433 $ 43,249 $ Licenses and permits 85,200 85,200 84,412 (788)
Fines and forfeitures 32,000 32,000 57,175 25,175
Intergovernmental 866,476 925,181 630,749 (294,432)
Use of money and property 110,000 110,000 586,771 476,771 Charges for services 94,250 94,250 88,333 (5,917)
Reimbursements 3,650,943 3,650,943 4,406,430 755,487
Other revenues 17,000 17,000 94,680 77,680
Total revenues 12,624,758 12,228,553 13,701,983 1,077,225 EXPENDITURES:

Current:

General government:

City Council 199,579 207,550 210,021 (2,471)
Administrative services 1,324,179 1,519,652 1,562,066 (42,414) Finance 606,598 636,156 577,670 58,486
Other - unclassified 1,596,798 1,650,345 1,382,046 268,299 Public safety:

Police Department 4,585,687 4,644,966 4,321,491 323,475 Fire Department 448,569 448,569 482,810 (34,241)
Public works:

Administration and engineering 881,065 881,065 868,993 12,072 Parks and facilities 42,200 46,788 48,185 (1,397)
Street maintenance 162,000 177,000 147,289 29,711
Storm drains 48,000 74,120 52,129 21,991
Corporation yard 812,898 812,898 536,996 275,902
Traffic and safety 35,500 35,926 50,541 (14,615)
Community development 353,756 443,662 342,253 101,409
Marketing and promotions 260,150 270,150 236,514 33,636 Cost allocations 401,893 401,893 1,871,041 (1,469,148)
Capital outlay 1,975,000 1,915,000 - 1,915,000
Debt service:

Principal 190,000 190,000 190,000 -
Interest and fiscal charges 243,348 243,348 241,439 1,909 Total expenditures 14,599,088 14,167,220 13,121,484 1,477,604

REVENUES OVER (UNDER)
EXPENDITURES (1,974,330) (1,938,667) 580,499 2,554,829
OTHER FINANCING SOURCES (USES):

Proceeds from sales of assets 10,000 10,000 1,325 (8,675) Transfers in 800,000 - 1,057,943 257,943
Transfers out (800,000) - (1,987,348) (1,187,348)
Total other financing sources (uses) 10,000 10,000 (928,080) (938,080) Net change in fund balances (1,964,330) (1,928,667) (347,581) 1,616,749 FUND BALANCES (DEFICITS):

Beginning of year 9,178,358 9,178,358 9,178,358 -
End of year $ 7,214,028 7,249,691 $ 8,830,777 $ 1,616,749 $ The accompanying notes are an integral part of these basic financial statements.

Budgeted Amounts
General Fund
34 Variance w/Final Variance w/Final
Positive Positive
Original Final Actual (Negative) Original Final Actual (Negative) $ - - $ - $ - $ - $ - $ - $
- - - - - - - -
- - - - - - - -
- - - - - - - -
110,000 110,000 147,371 37,371 4,000 4,000 6,407 2,407
- - - - - - - -
- - - - - - - -
- - - - - - - -
110,000 110,000 147,371 37,371 4,000 4,000 6,407 2,407
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
(159,947) 159,947 - -
- - - - - - - -
- - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - 159,947 (159,947) - - - -
110,000 110,000 (12,576) (122,576) 4,000 4,000 6,407 2,407 - - - - - - - -
- - 347,795 347,795 - - - -
- - - - - - -
- - 347,795 347,795 - - - -
110,000 110,000 335,219 225,219 4,000 4,000 6,407 2,407 230,472 230,472 230,472 - 449,047 449,047 449,047 -
$ 340,472 340,472 $ 565,691 $ 225,219 $ 453,047 $ 453,047 $ 455,454 $ 2,407 $ (continued)
Budgeted Amounts
CDBG Program Income Special Revenue Housing Successor Agency Special Revenue Budgeted Amounts
35 City of Fort Bragg, California
Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual - General and Major Special Revenue Funds For the year ended June 30, 2025
Variance w/Final
Positive
Original Final Actual (Negative)
REVENUES:

Taxes and assessments - $ - $ - $ - $
Licenses and permits - - - -
Fines and forfeitures - - - -
Intergovernmental 11,272,000 11,272,000 10,411,810 (860,190) Use of money and property - - - -
Charges for services - - - -
Reimbursements - - - -
Other revenues - - - -
Total revenues 11,272,000 11,272,000 10,411,810 (860,190) EXPENDITURES:

Current:

General government:

City Council - - - -
Administrative services - - - -
Finance - - - -
Other - unclassified - - - -
Public safety:

Police Department - - - -
Fire Department - - - -
Public works:

Administration and engineering - - - -
Parks and facilities - - - -
Street maintenance - - - -
Storm drains - - - -
Corporation yard - - - -
Traffic and safety - - - -
Community development - - - -
Marketing and promotions - - - -
Cost allocations - - - -
Capital outlay - - - -
Debt service:

Principal - - - -
Interest and fiscal charges - - - -
Total expenditures - - - -

REVENUES OVER (UNDER)
EXPENDITURES 11,272,000 11,272,000 10,411,810 (860,190) OTHER FINANCING SOURCES (USES):

Proceeds from sales of assets - - - -
Transfers in - -
Transfers out - - (12,594,643) (12,594,643)
Total other financing sources (uses) - - (12,594,643) (12,594,643) Net change in fund balances 11,272,000 11,272,000 (2,182,833) (13,454,833) FUND BALANCES:

Beginning of year 1,348,925 1,348,925 1,348,925 -
End of year $ 12,620,925 12,620,925 $ (833,908) $ (13,454,833) $ Prop 84 Special Revenue
Budgeted Amounts
36 Variance w/Final
Positive
Original Final Actual (Negative)
$ - - $ - $ - $
- - - -
- - - -
2,738,581 2,788,581 2,240,659 (497,922)
- - - -
- - - -
- - - -
- - - -
2,738,581 2,788,581 2,240,659 (497,922)
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
37,673 - 339,884 (302,211)
- - - -
- - - -
- - - -
- - - -
- - - -
37,673 - 339,884 (302,211)
2,700,908 2,788,581 1,900,775 (800,133)
- - - -
- -
- - (1,643,737) (1,643,737)
- - (1,643,737) (1,643,737)
2,700,908 2,788,581 257,038 (2,443,870)
102,091 102,091 102,091 -
$ 2,802,999 2,890,672 $ 359,129 $ (2,443,870) $
(concluded)
Other State Grants Special Revenue
Budgeted Amounts
37 Fund
Major Funds:

Water Fund
Sewer Fund
CV Starr Center
Broadband Fund

ENTERPRISE FUNDS
Description
Accounts for the operation and maintenance of the City’s water treatment and distribution system.

Accounts for the operation and maintenance of the City’s wastewater treatment plant and collection facilities.

Accounts for activities related to the CV Starr Community Center.

Accounts for the operations and mainteancne of the City's broadband utility.
38 City of Fort Bragg, California
Statement of Net Position
Proprietary Funds
June 30, 2025
Governmental
Activities
Water Sewer CV Starr Center Broadband Internal
Fund Fund Fund Fund Totals Service Funds
ASSETS
Current assets:

Cash and investments 930,743 $ 2,362,788 $ 3,679,945 $ - $ 6,973,476 $ 491,025 $ Restricted cash and investments 108,064 - 100,000 8,415,255 8,623,319 Receivables:

Accounts 379,898 457,374.00 317,355 - 1,154,627 -
Intergovernmental - - 521 - 521 -
Due from other funds 3,104,478 - - - 3,104,478 -
Inventory and prepaids 104,753 12,318.00 3,986 - 121,057 - Total current assets 2,832,480 4,627,936 4,101,807 8,415,255 19,977,478 491,025 Noncurrent assets:

Capital assets, net 26,087,131 24,212,655 18,000,100 - 68,299,886 2,281,805 Total noncurrent assets 24,212,655 26,087,131 18,000,100 - 68,299,886 2,281,805 Total Assets 27,045,135 30,715,067 22,101,907 8,415,255 88,277,364 2,772,830

DEFERRED OUTFLOWS OF RESOURCES
Pension plan - 617,876 196,195 - 814,071 -
Deferred loss on debt refunding - - - - -
Total assets and defered outflows of resources $ 27,663,011 30,715,067 $ 22,298,102 $ 8,415,255 $ 89,091,435 $ 2,772,830 $

LIABILITIES
Current liabilities:

Accounts payable 491,868 $ 102,260 $ 821,176 $ - $ 1,415,304 $ 91,121 $ Accrued payroll - 5,408 3,467 - 8,875 1,736
Due to other funds - - - - - 518,058
Interest payable - - - - - -
Unearned revenue - - - - - -
Deposits payable 165,684 350 5,386 - 171,420 -
Compensated absences - current portion 4,087 5,017 4,114 - 13,218 - Due within one year - 97,000 - - 97,000 -
Total current liabilities 210,035 661,639 834,143 - 1,705,817 610,915 Noncurrent liabilities:

Compensated absences 37,100 45,479 37,207 - 119,786 -
Due after one year - 4,364,000 - 7,879,810 12,243,810 - Net pension liability - 1,022,856 324,790 - 1,347,646 - Total noncurrent liabilities 5,432,335 37,100 361,997 7,879,810 13,711,242 - Total liabilities 5,642,370 698,739 1,196,140 7,879,810 15,417,059 610,915

DEFERRED INFLOWS OF RESOURCES
Pension Plan - 553,832 175,859 - 729,691 -
Total deferred inflows of resources 553,832 - 175,859 - 729,691 -

NET POSITION
Net Position:

Net investment in capital assets 26,087,131 19,751,655 18,000,100 - 63,838,886 2,281,805 Restricted for debt service 108,064 - - 535,445 643,509 - Unrestricted 3,821,133 1,715,154 2,926,003 8,462,290 (119,890) Total net position 21,466,809 30,016,328 20,926,103 535,445 72,944,685 2,161,915 Total liabilities, deferred inflows and net position $ 27,663,011 30,715,067 $ 22,298,102 $ 8,415,255 $ 89,091,435 $ 2,772,830 $ The accompanying notes are an integral part of these basic financial statements. 39 City of Fort Bragg, California
Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds
For the year ended June 30, 2025
Governmental
Activities
Water Sewer CV Starr Center Broadband Internal
Fund Fund Fund Fund Totals Service Funds
OPERATING REVENUES:

Charges for service 2,981,822 $ 3,412,813 $ 894,485 $ - $ 7,289,120 $ - $ Other operating revenue 68,610 152,804 7,818 - 229,232 21,433 Interdepartmental charges - - - - - 1,410,111
Total operating revenues 3,565,617 3,050,432 902,303 - 7,518,352 1,431,544 OPERATING EXPENSES:

Personnel services 748,367 889,373 1,548,694 - 3,186,434 783,589 Administration 757,680 1,666,436 740,525 - 3,164,641
Repairs and maintenance 196,395 118,285 663 - 315,343 93,961 Materials and supplies 344,076 423,418 127,161 - 894,655 503,768 Utilities 199,288 355,612 410,099 - 964,999 -
Contractual services 223,700 408,373 12,444 - 644,517 38,016 Insurance 68,287 150,155 1,765 - 220,207 -
Other operating 9,232 44,431 94,222 - 147,885 -
Depreciation 338,922 814,971 700,585 - 1,854,478 246,958 Total operating expenses 4,871,054 2,885,947 3,636,158 - 11,393,159 1,666,292 OPERATING INCOME (1,305,437) 164,485 (2,733,855) - (3,874,807) (234,748) NONOPERATING REVENUES (EXPENSES):

Property taxes - - 326,804 - 326,804 -
Sales taxes - - 1,350,872 - 1,350,872 -
Intergovernmental revenue - - 100,000 - 100,000
Other nonoperating revenues - - 2,084,023 - 2,084,023 - Interest revenue 140,054 95,696 113,031 43,247 392,028 10,200 Refunds and rebates - - 22,399 - 22,399 -
Interest expense - (89,655) - - (89,655) -
Issuance costs - - - (181,000) (181,000)
Total non-operating revenues, net 6,041 140,054 3,997,129 (137,753) 4,005,471 10,200

NET INCOME BEFORE
TRANSFERS (1,299,396) 304,539 1,263,274 (137,753) 130,664 (224,548) Transfers in 13,043,872 - - 673,198 13,717,070 2,147
Transfers out - (75,000) (393,794) - (468,794) (643,225) Total transfers (75,000) 13,043,872 (393,794) 673,198 13,248,276 (641,078) CHANGE IN NET POSITION (1,374,396) 13,348,411 869,480 535,445 13,378,940 (865,626) NET POSITION:

Beginning of year 16,667,917 22,841,205 20,056,623 - 59,565,745 3,027,541 End of year 30,016,328 $ 21,466,809 $ 20,926,103 $ 535,445 $ 72,944,685 $ 2,161,915 $ The accompanying notes are an integral part of these basic financial statements. 40 City of Fort Bragg, California
Statement of Cash Flows
Proprietary Funds
For the year ended June 30, 2025
Governmental
Activities
Water Sewer CV Starr Center Broadband Internal
Fund Fund Fund Fund Totals Service Funds
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from customers/users for services provided 3,009,821 $ 3,547,955 $ 894,404 $ - $ 7,452,180 $ - $ Cash received from interfund services provided - - - - - 1,431,544 Cash payments to suppliers for goods and services (2,580,181) (3,148,743) (1,067,231) - (6,796,155) (729,421) Cash payments to employees for services (747,562) (381,609) (1,525,725) - (2,654,896) (782,395) Net cash provided by operating activities 17,603 (317,922) (1,698,552) - (1,998,871) (80,272)

CASH FLOWS FROM NONCAPITAL FINANCING
ACTIVITIES:

Transfers received 13,043,872 - - 673,198 13,717,070 520,205 Transfers paid (3,104,478) (75,000) (393,794) - (3,573,272) (643,225) Taxes received - - 1,677,676 - 1,677,676 -
Refunds paid - - 22,399 - 22,399 -
Grants received - - 100,000 - 100,000 -
Other nonoperating receipts - - 2,084,023 - 2,084,023 - Net cash used by noncapital financing activities (75,000) 9,939,394 3,490,304 673,198 14,027,896 (123,020)

CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:

Acquisition and construction of capital assets (12,397,488) (383,596) (766,910) - (13,547,994) (248,486) Proceeds from bond issuance - - - 7,698,810 7,698,810
Principal paid on long term debt - (95,000) - - (95,000) - Interest paid on long term debt - (89,655) - - (89,655) - Net cash (used) by capital and related financing activities (568,251) (12,397,488) (766,910) 7,698,810 (6,033,839) (248,486) CASH FLOWS FROM INVESTING ACTIVITIES:

Investment income received 140 95 ,054 113 ,696 43 ,031 392 ,247 10 ,028 ,200 Net cash provided by investing activities 95,696 140,054 113,031 43,247 392,028 10,200 Net increase (decrease) in cash and cash equivalents (529,952) (2,635,962) 1,137,873 8,415,255 6,387,214 (441,578) CASH AND CASH EQUIVALENTS:

Beginning of year 3,674,769 2,892,740 2,642,072 - 9,209,581 932,603 End of year 1,038,807 $ 2,362,788 $ 3,779,945 $ 8,415,255 $ 15,596,795 $ 491,025 $ Presentation in Statement of Financial Position:

Cash and investments 930,743 $ 2,362,788 $ 3,679,945 $ - $ 6,973,476 $ 491,025 $ Restricted cash and investments 108,064 - 100,000 8,415,255 8,623,319 - Total Cash and investments 1,038,807 $ 2,362,788 $ 3,779,945 $ 8,415,255 $ 15,596,795 $ 491,025 $ Reconciliation of income from operations to net
cash provided by operating activities:

Operating income 164,485 $ (1,305,437) $ (2,733,855) $ - $ (3,874,807) $ (234,748) $ Adjustments to reconcile operating income
to net cash provided by operating activities:

Depreciation 338,922 814,971 700,585 - 1,854,478 246,958 Pension - 501,697 245,742 - 747,439 -
(Increase) decrease in current assets:

Accounts receivable (52,304) (17,762) (247,643) - (317,709) - Inventory and prepaids (3) (4) (2,487) - (2,494) -
Increase (decrease) in liabilities: .

Accounts payable (781,520) 24,437 324,036 - (433,047) (93,676) Accrued liabilities - 2,260 3,467 - 5,727 1,194
Deposits payable 11,693 100 - - 11,793 -
Compensated absences 805 3,807 19,502 - 24,114 -
Net cash provided by operating activities $ 17,603 (317,922) $ (1,698,552) $ - $ (1,998,871) $ (80,272) $ There were no noncash investing, capital, or financing activities affecting recognized assets and liabilities for the year ended June 30, The accompanying notes are an integral part of these basic financial statements. 41 This page intentionally left blank.
42 Fund
Private Purpose Trust Fund
Successor Agency - Fort Bragg Redevelopment Agency

FIDUCIARY ACTIVITIES
Accounts for funds collected and disbursed for the
dissolution of the former Fort Bragg Redevelopment
Agency related to Administration and Retirement of
enforceable obligations
Private Purpose Trust Funds are used for resources held for other individuals and entities in a manner similar to private enterprise.

Description
43 City of Fort Bragg, California
Statement of Fiduciary Net Position
Fiduciary Activities
June 30, 2025
Former Fort Bragg
Redevelopment
Agency

ASSETS AND DEFERRED OUTFLOWS
Current assets:

Cash and investments $ 551,769
Other receivable 14,746
Total assets 566,515
Deferred outflows of resources
Deferred loss on debt refunding 54,426
Total deferred outflows of resources 54,426
Total assets and deferred outflows of resources $ 620,941

LIABILITIES, DEFERRED INFLOWS AND NET POSITION
Current liabilities:

Interest payable $ 28,283
Due within one year 175,000
Total current liabilities 203,283
Long-term liabilities:

Due after one year 2,311,284
Total long-term liabilities 2,311,284
Deferred inflows of resources
Unavailable revenue 453,489
Total liabilities and deferred inflows of resources 2,968,056 Net Position (Deficit) (2,347,115)
Total liabilities and net position $ 620,941
Successor Agency
The accompanying notes are an integral part of these basic financial statements. 44 City of Fort Bragg, California
Statement of Changes in Fiduciary Net Assets
Private Purpose Trust Funds
For the year ended June 30, 2025
Former Fort Bragg
Redevelopment
Agency
ADDITIONS:

Property taxes $ 488,133
Total operating revenues 488,133
DEDUCTIONS:

Community development 123,976
Interest and trustee fees 88,925
Total operating expenses 212,901
CHANGE IN FIDUCIARY NET ASSETS 275,232
NET ASSETS (DEFICIT):

Beginning of year (2,622,347)
End of year $ (2,347,115)
Successor Agency
The accompanying notes are an integral part of these basic financial statements. 45 This page intentionally left blank.
46 47

NOTES TO BASIC FINANCIAL STATEMENTS

City of Fort Bragg, California
Index to the Notes to the Basic Financial Statements
For the year ended June 30, 2025
48 Page
Note 1 - Summary of Significant Accounting Policies ..................................................................................... 49 A. Description of Government-Wide Financial Statements ....................................................................... 49 B. Reporting Entity ...................................................................................................................................... 49 C. Basis of Presentation .............................................................................................................................. 50 D. Measurement Focus ............................................................................................................................... 52 E. Budgetary Information ........................................................................................................................... 53 F. Unearned Revenue ................................................................................................................................. 54 G. Assets, Liabilities, Deferred Outflows/Inflows of Resources and Net Position/ Fund Balance .......................................................................................................................................... 55 H. Revenues, Expenditures/Expenses ........................................................................................................ 60 I. Use of Estimates ...................................................................................................................................... 62 J. New and Closed Funds ............................................................................................................................ 62 K. Reclassifications ...................................................................................................................................... 62 L. Other Post-Employment Benefits (OPEB) ............................................................................................... 62 Note 2 – Cash and Investments ........................................................................................................................ 63 Note 3 – Accounts Receivable .......................................................................................................................... 66 Note 4 – Loans and Notes Receivable .............................................................................................................. 67 Note 5 – Capital Assets ..................................................................................................................................... 68 Note 6 – Accounts Payable and Accrued Liabilities ......................................................................................... 70 Note 7 – Long-term Liabilities .......................................................................................................................... 70 Note 8 – Net Position/Fund Balances .............................................................................................................. 73 Note 9 – Interfund Transactions ...................................................................................................................... 76 Note 10 – Risk Management ............................................................................................................................ 78 Note 11 – Public Employee Retirement System .............................................................................................. 78 Note 12 – Other Post-Employment Benefits ................................................................................................... 84 Note 13 – Successor Agency for Trust for Assets of Former Redevelopment Agency ................................... 88 Note 14 – Commitments and Contingencies ................................................................................................... 90 Note 15 – New Accounting Pronouncements .................................................................................................. 91 City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
49 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The basic financial statements of the City of Fort Bragg (City) have been prepared in conformity with accounting principles (USGAAP) generally accepted in the United States of America as applied to governmental agencies. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The more significant principles are described below.

A. Description of Government-wide Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government and its component units. All fiduciary activities are reported only in the fiduciary fund financial statements. Governmental activities, which normally are supported by taxes, intergovernmental revenues, and other non-exchange transactions, are reported separately from business-type activities, which rely to a significant extent on fees and charges to external customers for support. Likewise, the primary government is reported separately from certain legally separate component units for which the primary government is financially accountable.

B. Reporting Entity
The City of Fort Bragg was incorporated August 5, 1889, under the applicable laws and regulations of the State of California. The City operates under a Council-City Manager form of government and provides a variety of services including public safety (police and fire); streets and highways; wastewater collection, treatment, and disposal; water treatment; planning and zoning; public improvement and redevelopment; and general administrative services. The accompanying financial statements present the City and its component units, entities for which the City is considered to be financially accountable.

Blended Component Units
Because of their relationship with the City and the nature of their operations, component units are, in substance, part of the City’s operations and, accordingly, the activities of these component units are combined, or blended with the activities of the City for purposes of reporting in the accompanying basic financial statements. The basis for blending the component units is that their governing bodies are substantially the same as the City’s Council.

Fort Bragg Municipal Improvement District No. 1 (District) includes all of the funds and operations for the City’s wastewater collection and treatment processes. The District is governed by a Board of Directors comprised of the members of the Fort Bragg City Council. The City of Fort Bragg exercises significant financial and management control over the District. The activities of the District are reported as a major enterprise fund within the City’s financial statements.

Complete financial statements of the District can be obtained directly from the City of Fort Bragg, 416 N.

Franklin St., Fort Bragg, CA 95437.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
50 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued C. Basis of Presentation
The accounts of the City are organized and operated on the basis of funds, each of which is defined as a separate fiscal and accounting entity with a self-balancing set of accounts. These funds are established for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions or limitations.

In accordance with Governmental Accounting Standards Board Statement No. 34 (GASB 34), “Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments,” the financial statements consist of the following:
භ Government-wide financial statements,
භ Fund Įnancial statements, and
භ Notes to the Įnancial statements
Government-wide Financial Statements
While separate government-wide and fund financial statements are presented, they are interrelated. The governmental activities column incorporates data from governmental funds and internal service funds, while business-type activities incorporate data from the government’s enterprise funds. Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements.

The Statement of Net Position and the Statement of Activities report information on all of the non-fiduciary activities of the primary government (the City) and its component units. As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are payments in lieu of taxes where the amounts are reasonably equivalent in value to the interfund services provided and other charges between the City’s water and wastewater functions and various other functions of the City. Elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned. Governmental activities generally are financed through taxes, intergovernmental revenues, and other non-exchange transactions.

The Statement of Activities presents a comparison between direct expenses and program revenues for each segment of the City’s governmental activities. Direct expenses 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 operational need of a particular program, and (c) fees, grants, and contributions that are restricted to financing the acquisition or construction of capital assets. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
51 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued C. Basis of Presentation, Continued
Fund Financial Statements
The fund financial statements provide information about the City’s funds, including its fiduciary fund and blended component units. Separate statements for each fund category – governmental, proprietary, and fiduciary – are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All remaining governmental funds are aggregated and reported as non-major funds.

The City reports the following major governmental funds:

The General Fund is the City’s primary operating fund. It accounts for all financial resources of the general government except those required to be accounted for in specialized funds.

The Community Development Block Grant (CDBG) Program Income Fund special revenue fund was established to account for program income generated by CDBG funded projects. The funds are used for housing rehabilitation and business loans provided with CDBG funding.

The Housing Successor Agency special revenue fund is used to account for activities related to housing activities of the former Fort Bragg Redevelopment Agency.

The Prop 84 Grant special revenue fund is used to account for funds received from the State of California for construction projects.

The Other State Grants special revenue fund is used to account for all other state grants.

The Other Capital Projects is a capital project fund used to account for costs associated with the construction or acquisition of governmental capital assets (capital outlay).

The City reports the following major proprietary funds:

The Water enterprise fund accounts for the activities of the City’s water treatment and distribution operations.

The Wastewater enterprise fund accounts for the activities of the Fort Bragg Municipal Improvement District No. 1 which provides the City’s wastewater collection, treatment, and disposal operations.

The C.V. Starr Center enterprise fund accounts for all operations of the C.V. Starr Center, including the local sales tax restricted to funding the operations of the C.V. Starr Center and the property taxes collected by the City as part of a Property Tax Exchange agreement.

The Broadband enterprise fund accounts for the construction, operations and maintenance of the City’s broadband utility.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
52 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued C. Basis of Presentation, Continued
Additionally, the City reports the following fund types:

Internal Service Funds account for maintenance and repair of City facilities, information technology, and vehicle operations that provide services to other departments of the City on a cost reimbursement basis.

The Private-Purpose Trust Fund is a fiduciary fund type used by the City to report trust arrangements under which principal and income benefit other governments. This fund reports the assets, liabilities, and activities of the Fort Bragg Redevelopment Successor Agency (Successor Agency). The Successor Agency operates under the auspices of a legislatively formed Oversight Board comprised of representatives of the local agencies that serve the redevelopment project area. The Oversight Board, in its fiduciary capacity, has authority over the operations and the timely dissolution of the former RDA. It is tasked with fulfilling the obligations of the former RDA, and is also responsible for revenue collection, maintaining necessary bond reserves, and disposing of excess property.

During the course of operations the City has activity between funds for various purposes. Any residual balances outstanding at fiscal year-end are reported as due from/to other funds and advances to/from other funds. While these balances are reported in fund financial statements, certain eliminations are made in the preparation of the government-wide financial statements. Balances between the funds included in governmental activities (i.e., the governmental and internal service funds) are eliminated so that only the net amount is included as internal balances in the governmental activities column. Similarly, balances between the funds included in business-type activities (i.e., the enterprise funds) are eliminated so that only the net amount is included as internal balances in the business-type activities column.

Further, certain activity occurs during the fiscal year involving transfers of resources between funds. In fund financial statements these amounts are reported at gross amounts as transfers in/out. While reported in 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 so that only the net amount is included as transfers in the governmental activities column. Similarly, balances between the funds included in business-type activities are eliminated so that only the net amount is included as transfers in the business-type activities column.

D. Measurement Focus and Basis of Accounting
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.

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.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
53 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued D. Measurement Focus and Basis of Accounting, continued 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 revenues to be available if they are collected within 60 days of the end of the current fiscal period.

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.

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 of a fiscal year-end). Expenditure-driven grants are recognized as revenue when eligible expenditures have been incurred against a fully executed grant agreement. Such accrued revenue is considered available even if it is not received within 60 days of year-end. This method provides improved reporting and control at the program level because it appropriately matches funding sources and uses. All other revenue items are considered to be measurable and available only when cash is received by the City.

Proprietary and private-purpose trust funds are reported using the economic resources measurement focus and the accrual basis of accounting. 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 Water and Wastewater enterprise funds and of the City’s internal service funds are charges to customers for sales and services. Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and depreciation/amortization on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses.

E. Budgetary Information
1) Budgetary basis of accounting
Annual budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America for the general fund and enterprise funds. The capital projects funds are appropriated on a project-length basis. Other special revenue funds do not have appropriated budgets since other means control the use of these resources (e.g., grant awards and endowment requirements) and sometimes span a period of more than one fiscal year.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
54 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued E. Budgetary Information, Continued
The City Council follows the following procedures in establishing the budgetary data reflected in the required supplementary information:
• Before the end of each fiscal year, the City Manager and Finance Director prepare and submit to the City Council a proposed budget for the subsequent fiscal year. The budget includes proposed expenditures and the means for financing them.
• The City Council reviews the proposed budget in public hearings which provides interested citizens opportunity to comment. The Council may add to, subtract from, or change appropriations, but may not change the form of the budget.
• Prior to July 1, or soon after, the budget is legally adopted by the City Council through resolution.

The appropriated budget is prepared by fund, function, and department. The City’s department heads may make transfers of appropriations within a department with City Manager approval.

Transfers of appropriations between departments require the approval of the Council. The legal level of budgetary control (i.e., the level at which expenditures may not legally exceed appropriations) is the fund level.

Appropriations in all budgeted funds lapse at the end of the fiscal year unless they have related encumbrances. Encumbrances are commitments related to unperformed (executory) contracts for goods or services (i.e., purchase orders, contracts, and commitments). Encumbrance accounting is utilized to the extent necessary to assure effective budgetary control and accountability and to facilitate effective cash planning and control. Valid outstanding encumbrances (those for which performance under the executory contract is expected in the next year) are brought forward and become part of the subsequent year’s budget pursuant to City policy.

F. Unearned Revenue
Under both the accrual and modified accrual basis of accounting, revenue may be recognized only when earned. Therefore, the government-wide statement of net position as well as governmental and enterprise funds defer revenue recognition in connection with resources that have been received as of fiscal year-end, but not yet earned. Assets recognized in connection with a transaction before the earnings process is complete are offset by a corresponding liability for unearned revenue.

Under the modified accrual basis of accounting, it is not enough that revenue had been earned if it is to be recognized in the current period. Revenue must also be susceptible to accrual (i.e., measurable and available to finance expenditures of the current period). Governmental funds report unearned revenues, in connection with receivables for revenue not considered available to liquidate, as deferred inflows of resources.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
55 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued G. Assets, Liabilities, Deferred Outflows/Inflows of Resources, and Net Position/Fund Balance 1) Cash and cash equivalents
The City’s cash and cash equivalents are considered to be cash on hand, demand deposits, and shortterm investments with original maturities of three months or less from the date of acquisition. 2) Investments
Investments for the City and its component units are reported at fair value (generally based on quoted market prices).
3) Inventories and prepaid items
Inventories for both governmental and proprietary funds consist principally of materials and supplies held for consumption and are valued at cost, approximating fair value, using the first-in, first-out (FIFO) method. The cost of such inventories is recorded as expenditures/expenses when consumed rather than when purchased. Inventories recorded in the governmental funds do not reflect current appropriable resources and thus, an equivalent portion of fund balance is shown as non-spendable.

Certain payments to vendors represent costs applicable to future accounting periods and would be recorded as prepaid items in both the government-wide and fund financial statements. The City had $960 in prepaid expenses in governmental activities as of June 30, 2025. 4) Capital Assets
Capital assets, which include land, buildings, infrastructure (roads, sidewalks and similar items), and machinery and equipment, are reported in the applicable governmental or business-type activities column in the governmental-wide financial statements. Capital assets, except for infrastructure assets, are defined by the City as assets with an initial individual cost of more than $5,000 and an estimated useful life in excess of two years. For infrastructure assets the same estimated minimum useful life is used (in excess of two years), but only those infrastructure projects that cost more than $50,000 are reported as capital assets.

In the case of the initial capitalization of general infrastructure assets (i.e., those reported by governmental activities), the City chose to include all such items regardless of their acquisition date or amount. The City was able to estimate the historical cost for the initial reporting of these assets through back trending (i.e., estimating the current replacement cost of the infrastructure to be capitalized and using an appropriate price-level index to deflate the cost to the acquisition year or estimated acquisition year). As the City constructs or acquires additional capital assets each period, including infrastructure assets, they are capitalized and reported at historical cost.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
56 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued G. Assets, Liabilities, Deferred Outflows/Inflows of Resources, and Net Position/Fund Balance, Continued
The reported value excludes normal maintenance and repairs which are essentially amounts spent in relation to capital assets that do not increase the capacity or efficiency of the item or increase its estimated useful life. Donated capital assets, donated works of art and similar items as well as capital assets received in a service concession arrangement are reported at acquisition value. During the current fiscal period, infrastructure projects that were incomplete are reported as “construction in progress.”
Interest is capitalized on the construction of major assets acquired with debt. The amount of interest to be capitalized is calculated by offsetting interest expense incurred from the date of the borrowing until completion of the project with interest earned on invested proceeds over the same period. For the fiscal year ended June 30, 2025, there were no projects meeting the criteria for interest capitalization.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Improvements are capitalized and depreciated over the remaining useful lives of the related capital assets, as applicable. Capitalization thresholds are $5,000 for any single item.

Land and construction in progress are not depreciated. Property, plant, equipment, and infrastructure of the City are depreciated using the straight-line method using the following estimated useful lives:

Capital Asset Class
Estimated
Useful Life
Buildings 40 -75 years
Infrastructure 10 - 50 years
Utility Plant 10 - 50 years
Machinery & Equipment 3 - 40 years
Vehicles 5 - 10 years
Improvements 5 - 30 years
5) 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 assets 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, due to the nature of the restrictions.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
57 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued G. Assets, Liabilities, Deferred Outflows/Inflows of Resources, and Net Position/Fund Balance, Continued
6) Deferred outflows/inflows 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 reported as a deferred outflow of resources. The first item is a deferred charge on the City’s portemployment benefits reported in the government-wide statement of net position. The second item is a deferred charge on the City’s pension plan reported in the government-wide statement of net position.

In addition to liabilities, the statement of 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 two items reported as a deferred inflow of resources. The first item arises only under the modified accrual basis of accounting. Accordingly, the item, unavailable revenue, is reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from two sources: sales taxes and grants. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. The second deferred inflow on the City’s pension plan and is reported in the government-wide statement of net position.
7) Fund Balance flow assumptions
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.
8) Net Position/Fund Balance
GASB Statement No. 63 adds the concept of Net Position, which is measured on the full accrual basis, to the concept of Fund Balance, which is measured on the modified accrual basis. Net Position represents the difference between assets and liabilities and are divided into three captions under GASB Statement No. 34. These captions apply only to Net Position as determined at the governmentwide level, and are described below:

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
58 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued G. Assets, Liabilities, Deferred Outflows/Inflows of Resources, and Net Position/Fund Balance, Continued
Net Investment in Capital Assets describes the portion of Net Position which is represented by the current net book value of the City’s capital assets, less the outstanding balance of any debt issued to finance these assets.

Restricted describes the portion of Net Position which is restricted as to use by the terms and conditions of agreements with outside parties, governmental regulations, laws, or other restrictions which the City cannot unilaterally alter. These principally include debt service requirements and funds restricted for various purposes, such as low and moderate income housing, community development, streets and roads, and public safety.

Unrestricted describes the portion of Net Position which is not restricted as to use.

GASB Statement No. 54 establishes fund balance classifications for the Fund Financial Statements that comprise a hierarchy based primarily on the extent to which a government is bound to observe constraints imposed upon the use of the resources reported in governmental funds.

Non-spendable Fund Balance – This amount is comprised of net position that cannot be spent because of their form or must remain intact pursuant to legal or contractual requirements.

Restricted Fund Balance – This balance is comprised of net position that can be spent only for the specific purposes stipulated by constitution, external resource providers, or through enabling legislation.

Committed Fund Balance – This balance includes amounts that can be used only for the specific purposes determined by a formal action of the City’s highest level of decision-making authority. The City Council (Council) is the highest level of decision-making authority for the City that can, by adoption of an ordinance prior to the end of the fiscal year, commit fund balance. Once adopted, the limitation imposed by the ordinance remains in place until a similar action is taken (the adoption of another ordinance) to remove or revise the limitation.

Assigned Fund Balance – This balance is intended to be used by the City for specific purposes but do not meet the criteria to be classified as committed. The Council has by resolution authorized the Finance Director to assign fund balance. The Council may also assign fund balance as it does when appropriating fund balance to cover a gap between estimated revenue and appropriations in the subsequent year’s appropriated budget. Unlike commitments, assignments generally only exist temporarily. In other words, an additional action does not normally have to be taken for the removal of an assignment. Conversely, as discussed above, an additional action is essential to either remove or revise a commitment.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
59 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued G. Assets, Liabilities, Deferred Outflows/Inflows of Resources, and Net Position/Fund Balance, Continued
Unassigned Fund Balance – This balance represents residual net resources or total fund balance in the General Fund in excess of non-spendable, restricted, committed and assigned fund balance (surplus). In other governmental funds the balance represents the excess of non-spendable, restricted, and committed fund balance over total fund balance (deficit).

The City applies restricted resources first when expenditures are incurred for purposes for which either restricted or unrestricted (committed, assigned, and unassigned) amounts are available.

Similarly, within unrestricted fund balance, committed amounts are reduced first followed by assigned, and then unassigned amounts when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used. 9) Restricted Assets
Certain cash and investments in the Water Fund are held by the City’s fiscal agents and classified as restricted assets on the statement of net position because their use is limited by applicable bond or other covenants.
10) Lease Obligations
Lease Liabilities represent the City’s obligation to make lease payments arising from the lease. Lease liabilities are recognized at the lease commencement date based on the present value of future lease payments expected to be made during the lease term. The present value of lease payments is discounted based on a borrowing rate determined by the City. 11) Encumbrances
Encumbrances resulting from issuing purchase orders as a result of normal purchasing activities approved by appropriate authorities as of June 30, 2025, are summarized below.

Fund Amount
General Fund $ 487,516
General Plan Maintenance Fee Fund 8,294
Development Project Fund 23,974
Asset Forfeiture 125,330
ARPA 28,465
Noyo Harbor Blue Economy 14,833
Bainbridge Park Improvements 48,701
Streets Projects 63,186
Municipal Broad Broadband 66,996
Streets Projects 43,245
Broadband Utility 13,932
Technology Maintenance & Repair 26,083
Fleet Services 5,363
Water 138,554
Water Capital Projects 889,222
Waste Water 53,518
Waste Water Capital Projects 321,861
CV Starr Center 58,741
CV Starr Capital Projects 95,490
$ 2,513,301
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
60 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued G. Assets, Liabilities, Deferred Outflows/Inflows of Resources, and Net Position/Fund Balance, Continued
12) Long-Term Obligations
In the government-wide financial statements, the proprietary fund financial statements, and the private-purpose trust fund, long-term debt and other long-term obligations are reported as liabilities.

Initial-issue bond premiums and discounts are deferred and amortized over the life of the bonds using the straight-line method. Amortization of bond premiums or discounts is included as a component of interest expense.

H. 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. Taxes (excluding those dedicated for specific purposes) and other internally dedicated resources are reported as general revenues rather than as program revenues.

The City only accrues revenues at fiscal year-end and accrues only those revenues it deems collectible; as such the City has no allowance for uncollectible accounts. Management has determined that uncollectible receivables, if any, would be immaterial based on an analysis of historical trends.
2) Property taxes
Property taxes attach as an enforceable lien on real property and are levied as of July 1st. The City relies on the competency of the County of Mendocino Assessor’s and Auditor-Controller’s (County) offices to properly assess, collect, and distribute property taxes.

The method of allocation used by the County is subject to review by the State of California. The City and the County have adopted the Alternative Method of Tax Apportionment – Teeter Plan. First enacted in 1949, the Teeter Plan provides California counties with an optional alternative method for allocating delinquent property tax revenues. Using the accrual method of accounting under the Teeter Plan, counties allocate property tax revenues based on the total amount of property taxes billed, but not yet collected. In exchange, the counties receive the penalties and interest on delinquent taxes when collected. Mendocino County assesses properties, bills for, and collects secured and unsecured property taxes as follows:

Secured Unsecured
Lien dates January 1 January 1
Levy dates July 1 July 1
Due dates 50% on November 1 July 1
50% on February 1
Delinquent as of December 10 (for November due date) August 31 April 10 (for February due date
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
61 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued H. Revenues and expenditures/expenses, Continued
3) Compensated absences
Vacation
Vacation leave is accrued as a compensated absence to the extent that it is attributable to services already rendered, accumulates, and is more likely than not to be used or paid upon separation. The liability includes the City’s share of payroll-related costs. Regular employees earn vacation hours based on years of continuous service. Employees may accumulate up to 240 hours (340 hours after 10 years of continuous service).

Sick Leave
Sick leave is accrued as a compensated absence only to the extent that it is attributable to services already rendered, accumulates, and is more likely than not to be used for time off or otherwise paid or settled. Regular employees earn eight (8) hours of sick leave per month with unlimited accumulation.

Employees with two or more years of service who separate from City service, except in cases of discharge for cause, are entitled to payment equal to 30% of unused accumulated sick leave, up to a maximum of 1,000 hours. This estimated amount is included in the compensated absences liability, as it is considered more likely than not to be paid upon separation. 4) Proprietary funds operating and non-operating revenues and expenses Proprietary funds distinguish operating revenues and expenses from non-operating 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 water and wastewater funds are charges to customers for sales and services.

The C.V. Starr Center fund has three sources of revenue: property taxes, district sales tax, and user fees. The water and wastewater funds also recognize as operating revenue the portion intended to recover the cost of connecting new customers to the system. Operating expenses for enterprise include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues not meeting this definition are reported as non-operating revenues and expenses.

Although Internal Service Funds are proprietary in nature, they are funded entirely by internal customers and reported as governmental activities.

In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
62 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued I. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could differ from those estimates.

J. New and Closed Funds
During the course of each fiscal year funds may be closed and new funds opened. In FY 2024/25 no funds were opened or closed.

K. Reclassifications
Certain amounts have been reclassified to provide for comparable results on a year to year basis.

L. Other Postemployment Benefits (OPEB)
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the Authority’s plan (OPEB Plan) and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined on the same basis. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. Generally accepted accounting principles require that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used:

Valuation Date June 30, 2023
Measurement Date June 30, 2024
Measurement Period July 1, 2023 to June 30, 2024
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
63 2. CASH AND INVESTMENTS
At June 30, 2025, the City’s pooled cash and investments, classified by maturity, consisted of the following stated at fair value:

Fair
<1 1 to 3 3 to 5 Deposits Market Value
Cash equivalents and investments pooled
Pooled cash, at fair value
Cash in bank - $ - $ - $ 1,585,087 $ 1,585,087
Petty cash - - - 1,290 1,290
Total pooled items - - - 1,586,377 1,586,377
Pooled investments, at fair value
Interest obligations
Par Rate
$ 0.57% - 1.00% Federal Agency Securities - 1,000,000 976,610 - - 976,610 $ 1.45% - 5.7% Certificates of Deposits 4,703,616 9,664,000 4,687,925 249,000 - 9,640,541 Money Market Funds - - - 12,886,455 12,886,455
State of California Local Agency Investment Fund - - - 1,630,050 1,630,050 PARS Section 115 Pension Trust Fund - Mutual Fund 3,560,798 - - - 3,560,798 Total pooled investments - interest obligations 8,264,414 5,664,535 249,000 14,516,505 28,694,454 Total cash equivalents and investments pooled 8,264,414 $ 5,664,535 $ 249,000 $ 16,102,882 $ 30,280,831 $ Amounts reported in:

Governmental activities (unrestricted) 6,351,644 $
Governmental activities (restricted) 7,780,623
Business-type activities (unrestricted) 6,973,476
Business-type activities (restricted) 8,623,319
Fiduciary activities 551,769
Total 30,280,831 $
Maturities (in years)
California statutes authorize cities to invest idle or surplus funds in a variety of credit instruments as provided for in the California Government Code, Section 53600, Chapter 4 – Financial Affairs. The table below identifies the investment types that are authorized for the City by the California Government Code (or the City’s investment policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. The table does not address investments of debt proceeds held by bond trustees that are governed by the provisions of debt agreements of the City, rather than the general provisions of the California Government Code of the City’s investment policy. During the year ended June 30, 2025, the City’s permissible investments included the following instruments:

Maximum Maximum
Maximum Percentage Investment
Authorized Investment Type Maturity of Portfolio in One Issuer Local Agency Investment Fund (State Pool) N/A Unlimited $50 Million U.S. Treasury Obligations 5 years Unlimited None
U.S. Government Agency Issues 5 years Unlimited None
Repurchase Agreements 90 days 10% None
Bankers' Acceptances (must be dollar denominated) 270 days 40% None Commercial Paper - A rated minimum 180 days 15% None
Certificates of Deposits - FDIC insured 5 years 50% None General obligations of any State or Political subdivision - AA rated minimum 5 years 30% None Money market mutual funds holding - Cash and U.S. Government Obligations N/A None None Per the City’s investment policy, if special circumstances arise that necessitate the purchase of securities beyond the five year limitation, the requests must be approved by the Council prior to purchase.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
64 2. CASH AND INVESTMENTS, Continued
Investments Authorized by Debt Agreements
Investment of debt proceeds held by bond trustees is governed by provisions of the debt agreements. The table below identifies the investment types that are authorized for investments held by bond trustees. The table also identifies certain provisions of these debt agreements that address interest rate risk, credit risk, and concentration of credit risk.

Maximum Maximum
Maximum Percentage Investment
Investments Authorized by Debt Agreements Maturity of Portfolio in One Issuer U.S. Treasury Obligations 5 years None None
U.S. Government Agency Securities 5 years None None
Bankers Acceptance 270 days 40% 15%
Commercial paper 180 days 15% 15%
Money market mutual funds None None None
Interest rate risk –Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination of shorter term and longer term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations.

Credit risk – As of June 30, 2025, the City’s investments in money market funds were rated AAA by Standard & Poor’s and Fitch Ratings, and Aaa by Moody’s Investors Service. The State of California Local Agency Investment Fund is not rated.

Concentration of credit risk – The concentration of credit risk is the risk of loss that may be caused by the City’s investment in a single issuer. The investment policy of the City contains no limitations on the amount that can be invested in any single issuer beyond that stipulated by the California government code. Investments in the securities of any individual issuers, other than U.S. Treasury Securities, mutual funds and the California Local Agency Investment Fund, that represent 5 percent or more of the City’s total investments are as follows as of June 30, 2025:

Investment Type Fair Value Concentration
Certificate of Deposits 9,640,541 $ 31.84%
The City participates in an investment pool managed by the State of California titled Local Agency Investment Fund (LAIF). LAIF's investments are subject to credit risk with the full faith and credit of the State of California collateralizing these investments.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
65 2. CASH AND INVESTMENTS, Continued
Custodial credit risk – deposits. Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, the City will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits. At June 30, 2025, the carrying amount of the City’s cash deposits (including fiduciary funds) was $3,424,107 of which $250,000 was covered by federal depository insurance per insured bank and $2,708,162 was collateralized as required by State law (Government Code Section 53630), by the pledging financial institution with assets held in a common pool for the City and other governmental agencies, but not in the name of the City.

The California Government Code (Government Code Section 53630) requires that a financial institution secure deposits made by state or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The fair value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies. California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits.

As of June 30, 2025, the City’s investments were held by the City’s custodial agent, but not in the City’s name, and were insured up to specified limits by the Securities Investor Protection Corporation (SIPC) and supplemental private insurance up to a limit of $150 million.

Custodial credit risk – investments. Custodial credit risk – investment generally applied only to direct investments in marketable securities. Custodial credit risk – investment does not apply to a local government’s indirect investment in securities through the use of mutual funds or government investment pools (such as Local Agency Investment Fund).

Fair Value of Investments
The City measures and records its investments using fair value measurement guidelines established by generally accepted accounting principles (GAAP). These guidelines recognize a three-tiered fair value hierarchy as follows:
• Level 1: Quoted prices for identical investments in active markets; • Level 2: Observable inputs other than those in Level 1; and • Level 3: Unobservable inputs.

Debt and equity securities classified as Level 1 are valued using prices quoted in active markets for those securities. Debt and equity securities classified in Level 2 are valued using the following approaches: debt securities are normally valued based on price data obtained from observed transactions and market price quotations from broker dealers and/or pricing vendors; equity securities are valued using fair value per share for each fund. Certificates of deposit classified in level 2 are valued using broker quotes that utilize observable market inputs. Securities classified as Level 3 have limited trade information, these securities are priced or using the last trade price or estimated using recent trade prices.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
66 2. CASH AND INVESTMENTS, Continued
Investments by Fair Value Level June 30, 2025 Level 1 Level 2 Level 3 Federal Agency Securities 976,610 $ - $ 976,610 $ - $
Certificates of Deposits 9,640,541 - 9,640,541 -
Money market 12,886,455 12,886,455 - -
Total fair value 23,503,606 12,886,455 10,617,151 -
Investments Exempt from Fair Value Hierarchy
Local Agency Investment Fund (LAIF) 1,630,050
PARS Section 115 Pension Trust Fund - Mutual Funds 3,560,798 $ 28,694,454
Investment in LAIF
The City is a voluntary participant in California Local Agency Investment Fund (LAIF), which is regulated by California Government Code Section under the oversight of the Local Investment Advisory Board (Board).

The Board consists of five members as designated by state statute and is chaired by the State Treasurer who is responsible for day to day administration of LAIF. The total amount invested by all public agencies as of June 30, 2025 was $24.49 billion of which the City had a balance of $1,630,050. LAIF is part of the California Pooled Money Investment Account (PMIA), which at June 30, 2025 has a portfolio with market valuation including accrued interest of $178.1 billion. The fair value of the City’s investment in this pool is reported in the accompanying financial statements at amounts based upon the City’s pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. recorded on an amortized cost basis.

3. ACCOUNTS RECEIVABLE
Accounts receivable consisted of the following at June 30, 2025:

Receivables
Governmental Activities
Taxes 2,976 $
Intergovernmental 4,378,089
Other 1,650,635
$ 6,031,700
Business-type activities
Accounts Receivable 1,155,148 $
$ 1,155,148
These amounts resulted in the following concentrations in receivables:

Other Governments 61% Individuals/Business 39%

Amounts do not indicate a significant concentration (greater than 25%) with any single individual, business or agency.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
67 4. LOANS AND NOTES RECEIVABLE
The City periodically receives Community Development Block Grant (CDBG) funding through the State Housing and Community Development Department to provide housing and economic development loans to individuals and businesses. Repayment terms and interest rates vary depending on the borrower’s funding needs and ability to repay the loan. Interest is accrued on the loans that bear interest.

Loans and notes receivable for the year ended June 30, 2025, consisted of the following:

Beginning Ending
June 30, 2024 Additions Deletions Adjustments June 30, 2025 CDBG Revolving Loans 1,421,726 $ 36,690 $ (96,849) $ 833 $ 1,362,400 $ Mendocino Coast Hospitality Center Loan - 904,293 - - 904,293 Rural Community Housing Development Corporation Loans 6,750 577,125 - - 583,875 Employee Loans - 2,311 (1,232) - 1,079
PLHA Loan - Permanent Local Housing Allocation - 2,280,000 - - 2,280,000 Total loans/notes receivable 5,185,455 $ 43,440 $ (98,081) $ 833 $ 5,131,647 $ The following are descriptions of the loans and notes receivable outstanding as of June 30, 2025:

CDBG Revolving Loans – These are loans issued from CDBG grant funds received by the City or issued from unrestricted CDBG Program Income on hand. Loans are provided from CDBG Economic Development funding to assist local business that will provide or retain jobs. Business loans require repayment of interest and principal. Loans are also provided from CDBG Community Development funds to income-qualified home owners in order to rehabilitate their homes. Terms of housing loans vary depending upon the homeowners’ income and may require payments of interest and principal; or interest only; or loans may be fully deferred for up to 30 years.

Mendocino Coast Hospitality Center Loan – On January 12, 2016, the Fort Bragg City Council adopted a Resolution approving the use of 2015 Community Development Block Grant (CDBG) funds for acquisition and rehabilitation of the vacant Old Coast Hotel for the benefit of Mendocino Coast Hospitality Center, Inc. (MCHC). The facility accommodates a variety of homeless and mental health services including transitional housing. The facility is owned and operated by MCHC. This loan is deferred for a term of 20 years. If various conditions are met during the term of the loan, the loan will be forgiven at the end of the 20 year term.

Rural Community Housing Development Corporation Loans – These loans are to the Rural Community Housing Development Corporation (RCHDC), a non-profit organization for housing rehabilitation projects within the City.

Employee Loans – Employees have the option of entering into equipment purchasing loan plans with the City, which may be utilized to assist the employee to purchase equipment that may be used both on and off duty to improve the employee’s job performance.

Permanent Local Housing Allocation Loan – This loan is a Promissory Note related to a Permanent Local Housing Allocation (PLHA) Loan issued by City of Fort Bragg to Fort Bragg South Street LP, a California limited partnership. The loan accrues interest at an annual rate of 3%, with a default rate of 6%, and matures 55 years from the issuance of a Certificate of Occupancy for the project.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
68 5. CAPITAL ASSETS
Governmental capital asset activity for the year ended June 30, 2025, was as follows:

Balance Transfers/ Balance
June 30, 2024 Additions Deletions Adjustments June 30, 2025 Governmental activities:

Nondepreciable assets:

Land 12,952,262 $ - $ - $ - $ 12,952,262 $
Construction in progress 4,671,669 7,884,546 (3,961,771) - 8,594,444 Total nondepreciable assets 7,884,546 17,623,931 (3,961,771) - 21,546,706 Depreciable assets:

Buildings 5,098,661 566,865 - (5,535) 5,659,991
Machinery, equipment and vehicles 3,967,176 613,813 (567,008) - 4,013,981 Infrastructure 38,238,681 4,706,668 - - 42,945,349
Total depreciable assets 5,887,346 47,304,518 (567,008) (5,535) 52,619,321 Total 13,771,892 59,078,998 (4,528,779) (5,535) 74,166,027 Accumulated depreciation:

Buildings (3,727,918) (124,976) - - (3,852,894)
Machinery, equipment and vehicles (1,817,270) (251,643) 567,008 - (1,501,905) Infrastructure (14,503,483) (1,362,574) - - (15,866,057) Total accumulated depreciation (1,739,193) (20,048,671) 567,008 - (21,220,856) Net depreciable assets 4,148,153 27,255,847 - (5,535) 31,398,465 Total net capital assets $ 12,032,699 44,879,778 $ (3,961,771) $ (5,535) $ 52,945,171 $ Depreciation expense for capital assets was charged to functions as follows:

General government 89,417 $
Public safety 40,587
Public works 1,362,231
Facilities 7,481
IT 41,844
Fleet services 197,633
$ 1,739,193
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
69 5. CAPITAL ASSETS, Continued
Business-type capital asset activity for the year ended June 30, 2025, was as follows:

Balance Balance
June 30, 2024 Additions Deletions June 30, 2025
Business-type activities:

Nondepreciable assets:

Land 3,210,698 $ - $ - $ 3,210,698 $
Construction in progress 6,577,339 12,939,272 (2,038,093) 17,478,518 Total nondepreciable assets 12,939,272 9,788,037 (2,038,093) 20,689,216 Depreciable assets:

Buildings 29,734,696 - - 29,734,696
Machinery, equipment and vehicles 6,615,485 2,637,828 - 9,253,313 Infrastructure 39,742,556 - - 39,742,556
Land improvements 542,303 - - 542,303
Total depreciable assets 2,637,828 76,635,040 - 79,272,868 Total 15,577,100 86,423,077 (2,038,093) 99,962,084
Accumulated depreciation:

Buildings (11,017,831) (732,629) 2,086 (11,748,374)
Machinery, equipment and vehicles (4,836,801) (190,233) 6,901 (5,020,133) Infrastructure (13,419,772) (931,616) - (14,351,388)
Land improvements (542,303) - - (542,303)
Total accumulated depreciation (1,854,478) (29,816,707) 8,987 (31,662,198) Net depreciable assets 783,350 46,818,333 8,987 47,610,670 Total net capital assets $ 13,722,622 56,606,370 $ (2,029,106) $ 68,299,886 $ Depreciation expense for capital assets was charged to functions as follows:

Water 338,922 $
Sewer 814,971
CV Starr Center 700,585
$ 1,854,478

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
70 6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Accounts payable and accrued payroll and related liabilities consisted of the following at June 30, 2025:

Governmental Business-type
Activities Activities Total
Accounts payable 1,106,820 $ 1,414,649 $ 2,521,469 $
Accrued payroll and related liabilities 56,795 9,530 66,325 Total 1,163,615 $ 1,424,179 $ 2,587,794 $
These amounts resulted in the following concentrations in payables:

Vendors 97.9%
Employees 2.1%
There were no further significant concentrations (greater than 25%) with any single vendor or employee.

7. LONG-TERM LIABILITIES
The following is a summary of changes in long-term liabilities for the year ended June 30, 2025:

Balance Balance Due Within
July 1, 2024 Additions Retirements June 30, 2025 One Year Governmental Activities:
2025 Solar Equipment Lease Payable - $ 7,955,000 $ - $ 7,955,000 $ - $ 2021 Lease revenue bonds 7,820,000 - (190,000) 7,630,000 225,000 2021 Lease revenue bonds discount (37,499) - 1,875 (35,624) - Total governmental activities debt 7,955,000 7,782,501 (188,125) 15,549,376 225,000 Compensated absences 584,690 206,454 (58,000) 733,144 73,314 Total governmental activities $ 8,161,454 8,367,191 $ (246,125) $ 16,282,520 $ 298,314 $ Business-type activities
Loan payable:

BB Installment Purchase Agreement - $ 7,879,810 $ - $ 7,879,810 $ - $ Bonds payable:
2018 WW Plant Certificates of Participation 4,556,000 - (95,000) 4,461,000 97,000 Total business-type activity debt 7,879,810 4,556,000 (95,000) 12,340,810 97,000 Compensated absences 108,890 38,484 (14,370) 133,004 13,218 Total business-type activities $ 7,918,294 4,664,890 $ (109,370) $ 12,473,814 $ 110,218 $ City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
71 7. LONG-TERM LIABILITIES, Continued
Governmental Activities
2025 Solar Equipment Lease Payable
On August 7, 2024, the City entered into an Equipment Lease/Purchase Agreement with Bank of America, National Association, to finance the acquisition and installation of various equipment, fixtures, and property improvements (the “Equipment”). Under the agreement, the City is leasing the Equipment with the intent to purchase, for a total Acquisition Amount of $7,955,000, which is expected to be sufficient to fund the equipment acquisition and installation costs.

The lease functions as a financing arrangement, with the City making periodic rental payments that include principal and interest at a contract rate of 4.46% per annum. The obligation is subject to annual appropriation and secured by the Equipment acquired. The agreement includes an escrow component under which the Acquisition Amount is deposited and disbursed upon request as the Equipment is acquired and installed.

The agreement provides a one-time extraordinary prepayment option prior to August 7, 2029, allowing the City to prepay up to $2,420,000 of the outstanding principal following the receipt of Project Grant funds, at a prepayment price of 100.5% of the principal portion prepaid, plus accrued interest to the prepayment date.

The outstanding principal balance as of June 30, 2025 was $7,955,000. 2021 Lease Revenue Bonds
On October 28, 2021 the City issued $11,440,000 in Lease Revenue Bonds. Of the proceeds, $7,540,414 were used to pay down a portion of the outstanding UAL projected by CalPERS. On August 5, 2023 the City declared a portion of the bond proceeds to be surplus and redeemed $3,425,000 of bond principal. Interest is payable semi-annually on May 1 and November 1 of each year, commencing November 1, 2024. The bonds mature in 2044 and principal is payable on May 1 each year, commencing May 1, 2024. The interest rate for the bonds varies from 1.110% to 3.5%.

Business-type Activities
2025 Purchase Agreement Broadband IPA Loan
In 2025, the City entered into an Installment Purchase Agreement with the City of Fort Bragg Joint Powers Authority (Authority) to provide partial funding for the acquisition, design, construction, and improvement of a broadband internet access system (the “Project”). Under the agreement, the Authority sells the Project to the City for a total Acquisition Amount of $7,879,810, to be repaid through installment payments in accordance with the schedule set forth in the agreement.

The obligation is secured and payable from the net revenues of the Broadband System and is further supported by Government Grant proceeds awarded to the Project. The outstanding principal balance under the agreement as of June 30, 2025, was $7,879,810, reflecting the initial year of the debt.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
72 7. LONG-TERM LIABILITIES, Continued
2018 Wastewater Revenue Refunding Bonds
In 2018, the City issued $5,000,000 in Certificates of Participation as partial funding to acquire and construct the District’s Wastewater Treatment Facility. The Certificates of Participation are secured by an Installment Sale agreement between the City and City of Fort Bragg Joint Powers Financing Authority (JPFA) with the JPFA acting as seller and the City as purchaser. The obligation is secured and payable from net revenues of the Wastewater Enterprise. The outstanding principal balance as of June 30, 2025 was $4,461,000.

Compensated Absences
The City records employee absences, such as vacation, illness, and holidays, for which it is expected that employees will be paid as compensated absences. The governmental activities compensated absences balance at June 30, 2025 was $733,144 with $73,315 expected to be paid within a year; The business-type activities compensated absences balance at June 30, 2025 was $133,004 with $13,218 expected to be paid within a year.

Future debt service for Governmental at June 30, 2025, is as follows:

Year Ending
June 30,
Principal Interest Principal Interest Principal Interest 2026 225,000 $ 240,555 $ - $ 171,483 $ 225,000 $ 412,038 $ 2027 285,000 236,910 49,000 354,793 334,000 591,703
2028 330,000 231,410 72,000 402,700 402,000 634,110
2029 340,000 224,381 98,000 423,002 438,000 647,383
2030 355,000 216,629 127,000 445,211 482,000 661,840
2031-2035 1,855,000 549,356 1,160,000 469,194 3,015,000 1,018,550 2036-2040 2,155,000 486,388 2,348,000 2,744,638 4,503,000 3,231,026 2041-2045 2,085,000 255,675 4,101,000 3,549,970 6,186,000 3,805,645 2046-2050 - 16,100 - 4,595,636 - 4,611,736
2051-2055 - - - - - -
2056-2059 - - - - - -
Total 7,630,000 $ 2,457,404 $ 7,955,000 $ 13,156,627 $ 15,585,000 $ 15,614,031 $ Due within one year 225,000 $ 240,555 $ - $ 171,483 $ 225,000 $ 412,038 $ Due after one year 7,405,000 2,216,849 7,955,000 12,985,144 15,360,000 15,201,993 Total 7,630,000 $ 2,457,404 $ 7,955,000 $ 13,156,627 $ 15,585,000 $ 15,614,031 $ 2021 Lease Revenue Bonds
Governmental Activities
2025 Solar Equipment
Capital Lease Total
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
73 7. LONG-TERM LIABILITIES, Continued
Future debt service for Governmental and Business-Type Activities at June 30, 2025, is as follows:

Year Ending
June 30,
Principal Interest Principal Interest Principal Interest 2026 97,000 $ 88,210 $ - $ 368,370 $ 97,000 $ 456,580 $ 2027 99,000 86,250 - 382,171 99,000 468,421
2028 101,000 84,250 145,514 382,171 246,514 466,421
2029 103,000 82,210 301,509 371,499 404,509 453,709
2030 105,000 80,130 316,509 356,689 421,509 436,819
2031-2035 555,000 368,050 2,253,370 1,534,568 2,808,370 1,902,618 2036-2040 614,000 309,700 2,441,520 1,038,712 3,055,520 1,348,412 2041-2045 677,000 245,190 2,421,388 408,605 3,098,388 653,795 2046-2050 746,000 174,060 - - 746,000 174,060
2051-2055 826,000 95,540 - - 826,000 95,540
2056-2059 538,000 16,220 - - 538,000 16,220
Total 4,461,000 $ 1,518,050 $ 7,879,810 $ 4,842,785 $ 12,340,810 $ 6,360,835 $ Due within one year 97,000 $ 88,210 $ - $ 368,370 $ 97,000 $ 456,580 $ Due after one year 4,364,000 1,429,840 7,879,810 4,474,415 12,243,810 5,904,255 Total 4,461,000 $ 1,518,050 $ 7,879,810 $ 4,842,785 $ 12,340,810 $ 6,360,835 $ Business-Type Activities
BB Prchase Agreement
Total
2018 WW Plant Certificates
Revolving Loan IPA Loan

8. NET POSITION/ FUND BALANCES
Net position (deficit)
Governmental Business-type
Activities Activities Total
Net investment in capital assets 52,945,171 $ 63,838,886 $ 116,784,057 $ Restricted 7,474,724 643,509 8,118,233
Unrestricted (deficit) (9,174,810) 8,462,290 (712,520)
Total 51,245,085 $ 72,944,685 $ 124,189,770 $
Restricted balances are for the same purposes as fund balance restrictions because external restriction requirements are the same. See descriptions of the restrictions below.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
74 8. NET POSITION/ FUND BALANCES, Continued
Fund Balance
Non-spendable, Restricted and Committed fund balance consisted of the following at June 30, 2025:

Nonspendable:

Prepaid 2,809 $
Advances to other funds 209,110
Loans/ Notes Receivable 2,769
Total Nonspendable $ 214,688
Restricted:

Governmental Funds:

Restricted cash and investments 3,560,798 $
CDBG Program Income 565,691
Housing 455,454
Asset Forfeiture 297,273
Gas tax 34,197
Special Sales Tax 699,382
Federal & State Grant Funds 1,861,929
Total Restricted $ 7,474,724
Committed:

Governmental Funds:

Operating reserve 1,989,419 $
Recession reserve 489,929
Litigation reserve 200,000
Total Committed $ 2,679,348
The following describe the purpose of each non-spendable, restricted, and committed category used by the City:

Non-spendable
• Prepaids – represents non-spendable amounts classified as prepaid expense. • Advances to other funds – represents long-term interfund loan for capital projects. • Loans/nots receivable – represents non-spendable amounts classified as loans/notes receivable.

Restricted
• Restricted cash and investments – represents amounts restricted for pension costs. • CDBG Program Income – represents amounts restricted by Federal guidelines to support housing rehabilitation projects.
• Housing – represents amounts restricted for housing activities of the Former Fort Bragg Redevelopment Agency.
• Asset Forfeiture – represents amounts restricted by State and Federal guidelines to support law enforcement.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
75 8. NET POSITION/ FUND BALANCES, Continued
Restricted, Continued
• Gas tax – represents amounts restricted for City roads and streets by the State of California’s Highway User Tax.
• Special Sales Tax – represents amounts restricted by voter approved ordinance for street repairs. • Federal and State Grants – represents restricted amounts received from State and Federal Grants for various city programs.

Committed
• Reserves – represents amounts designated by the City Council for future contingencies, which include a $1,989,419 operating reserve, a $489,929 recession reserve and a $200,000 litigation reserve.

Fund Balance Deficits
Deficit fund balances consisted of the following:

Funds June 30, 2025
Major Funds:

Prop 84 Grant Special Revenue Fund (833,908) $
Non-Major Funds:

Special Revenue Funds
Parking In-lieu Fees (5,137)
MCOG Overall Work Plan (15,363)
Developer Deposit Accounts (6,325)
Noyo Harbor Blue Economy (109,365)
Total (970,098) $
The above deficit fund balances have occurred due to the spending of funds prior to the receipt of revenues (cost reimbursements). The Fund balances will be restored in the near future as revenues are received.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
76 9. INTERFUND TRANSACTIONS
Due to and from balances result from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3) payments between funds are made.

Due to and due from other funds consisted of the following as of June 30, 2025:

Due from Due to
Other Funds Other Funds
Governmental Funds
Major Funds:

General Fund 3,794,158 $ - $
Prop 84 Grant Special Revenue Fund - 2,028,374
Other State Grants Special Revenue Fund - 1,497,704
Other Capital Projects Fund 1,454,697 3,281,993
Total Major Funds 5,248,855 6,808,071
Nonmajor Funds:

Special Revenue Funds
Parking In-lieu Fees - 5,137
RMRA - 159,873
MCOG Overall Work Plan - 15,363
Developer Deposit Accounts - 28,549
Noyo Harbor Blue Economy - 235,593
Federal and State Grant Funds - 556,557
Capital Project Funds:

Street Resurfacing 202,879 229,011
Internal Service Funds:

Building Maintenance - 140,124
Information Technology - 377,934
Total Nonmajor Funds 202,879 1,748,141
Total Governmental Funds 5,451,734 8,556,212
Proprietary Funds
Major Enterprise Funds:

Water 3,104,478
Total Major Enterprise Funds 3,104,478 -
Total $ 8,556,212 8,556,212 $
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
77 9. INTERFUND TRANSACTIONS, Continued
Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them, and (2) use unrestricted revenues collected in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. Transfers consisted of the following at June 30, 2025:

Transfers In Transfers Out
Governmental Funds
Major Funds:

General Fund 1,057,943 $ 1,987,348 $
CDBG Program Income Special Revenue Fund 347,795 -
Prop 84 Special Revenue Fund - 12,594,643
Other State Grants Special Revenue Fund - 1,643,737
Other Capital Projects Fund 3,356,779 -
Total Major Funds 4,762,517 16,225,728
Non-major Funds:

Special Revenue Funds
Asset Forfeiture - 2,147
RMRA - 159,873
Special Sales Tax - 793,625
STP D1 Streets and Highway Allocation - 426,991
CDBG Grant - 1,157,603
CDBG Grant Covid 247,339 -
Capital Projects Fund
Street Resufacing 1,148,913 -
Total Non-major Funds 1,396,252 2,540,239
Internal Service Funds
Building Maintenance - 643,225
Fleet Services 2,147 -
Total Internal Service Funds 2,147 643,225
Total Governmental Funds 6,160,916 19,409,192
Proprietary Funds
Major Enterprise Funds
Water 13,043,872 -
Sewer - 75,000
CV Starr Center - 393,794
Broadband 673,198 -
Total Proprietary Funds 13,717,070 468,794
Total Transfers $ 19,877,986 19,877,986 $
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
78 10. RISK MANAGEMENT
The City of Fort Bragg is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters for which the Member entity obtains insurance coverage.

The City of Fort Bragg is a member of the California Intergovernmental Risk Authority (CIRA), a joint powers authority, which provides joint protection programs for public entities covering automobile, general liability, errors and omission losses, workers’ compensation, and property claims.

Under the General Liability program, the City of Fort Bragg has a $5,000 deductible, with CIRA responsible for losses above that amount up to $1 million. CIRA has additional coverage of $39 million in excess of its $1 million retention limit through affiliated risk management authorities. CIRA also provides $600 million aggregate property coverage to its members with such coverage provided by purchased insurance. Liabilities of the member entity are reported when it is probable that a loss has occurred, and the amount of the loss can be reasonably estimated. Liabilities include an amount for claims that have been incurred but not reported (IBNRs). The result of the process to estimate the claims liability is not an exact amount as it depends on many complex factors, such as inflation, changes in legal doctrines, and damage awards.

Accordingly, claims are reevaluated periodically to consider the effects of economic and social factors. The estimate of the claims liability also includes amounts for incremental claim adjustment expenses related to specific claims and other claim adjustment expenses regardless of whether allocated to specific claims.

Estimated recoveries, for example, from salvage or subrogation, are another component of the claims liability estimate.

CIRA covers workers’ compensation claims for participating members up to its self-insurance limit of $500,000. Safety National and Gray Insurance Company provide excess coverage to statutory limits. Financial Statements of CIRA may be obtained from its administrative office located at 2330 E. Bidwell Street, Suite 150, Folsom, CA 95630; www.cira-jpa.org or by calling (916) 927-7727.

11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM
General Information about the Pension Plans
Plan Descriptions - All qualified permanent and probationary employees are eligible to participate in the City's separate Safety (police and fire) and Miscellaneous (all other) Employee Pension Plans, cost-sharing multiple employer defined benefit pension plans administered by the California Public Employees' Retirement System (CaIPERS). 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.

Benefits Provided - CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full time employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for nonduty disability benefits after 10 years of service. The death benefit is one of the following: the Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees' Retirement Law.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
79 11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, Continued
The Plans' provisions and benefits in effect at June 30, 2025, are summarized as follows:

Miscellaneous PEPRA Miscellaneous
Hire date
Prior to
January 1, 2013
On or after
January 1, 2013
Benefit formula 2% @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 55 52 - 67
Monthly benefits, as a % of eligible compensation 1.4% - 2.0% 1.0% to 2.5% Required employee contribution rates 6.90% 6.50%
Required employer contribution rates 12.74% 8.27%
Safety - Police PEPRA Safety - Police
Hire date
Prior to
January 1, 2013
On or after
January 1, 2013
Benefit formula 2% @ 50 2.7% @ 57
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 50 50 - 57
Monthly benefits, as a % of eligible compensation 2% 2.0% to 2.7% Required employee contribution rates 8.94% 12.00%
Required employer contribution rates 20.15% 13.99%
Fire Safety
Hire date
Prior to
January 1, 2013
Benefit formula 3% @ 50
Benefit vesting schedule 5 years service
Benefit payments monthly for life
Retirement age 50
Monthly benefits, as a % of eligible compensation 2.00% Required employee contribution rates 0%
Required employer contribution rates 0%
Contributions - Section 20814(c) of the California Public Employees' Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for both Plans are determined annually on an actuarial basis as of June 30 by CaIPERS. 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, 2025, the contributions recognized as part of pension expense for each Plan were as follows:

Miscellaneous Plans Safety Plans
Contributions - employer 474,948 $ $ 351,042
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
80 11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, Continued
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions As of June 30, 2025, the City reported net pension liabilities for its proportionate shares of the net pension liability of each Plan as follows
Proportionate Share
of Net Pension Liability
Miscellaneous Plans 3,148,505 $
Safety Plans 2,337,913
Total Net Pension Liability 5,486,418 $
The City's net pension liability for each Plan is measured as the proportionate share of the net pension liability. The net pension liability of each of the Plans is measured as of June 30, 2025, 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, 2023 rolled forward to June 30, 2025 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. At June 30, 2016 CalPERS combined the Miscellaneous Plan and PEPRA Miscellaneous Plan for purposes of calculating net pension liability. Likewise the Safety-Police Plan, PEPRA Safety-Police Plan and Safety-Fire Plans were combined for purposes of calculating net pension liability. The City’s proportionate share of the net pension liability for each Plan as of June 30, 2025 and 2024 was as follows:

Miscellaneous Safety Total
Proportion - June 30, 2024 0.06368% 0.03263% 0.04507%
Proportion - June 30, 2025 0.06510% 0.03207% 0.04524%
Change - Increase/(Decrease) 0.00142% -0.00056% 0.00017% City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
81 11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, Continued
For the year ended June 30, 2025, the City recognized pension expense of $354,784. At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Deferred Deferred Deferred Deferred Deferred
Outflows Inflow Outflows Inflow Outflows Inflow
of Resources of Resources of Resources of Resources of Resources of Resources Changes in assumptions 80,923 $ - $ 57,601 $ - $ 138,524 $ - $ Differences between expected and actual
experiences - 261,595 184,591 - 446,186 -
Differences between projected and actual
investment earnings 181,256 - 113,004 - 294,260 -
Differences between the employer's
contributions and proportionate share of the
contributions 612,116 629,112 610,635 522,817 1,239,747 1,134,933 Change in employer's proportion 957,346 207,969 161,497 878,372 369,465 1,835,719 Pension contributions subsequent to
measurement date - 474,948 351,042 - 825,990 -
Total 1,835,803 $ 1,569,462 $ 1,478,370 $ 1,401,189 $ 3,314,172 $ 2,970,652 $ Miscellaneous Plan Safety Plan Total
$825,990 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2026. Contributions made after the measurement date of the net pension/OPEB liability or collective net pension/OPEB liability but before the end of the City’s fiscal year will be recognized as a reduction of the net pension/OPEB liability/ or collective net pension/OPEB liability in the subsequent fiscal year rather than in the current fiscal year. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Fiscal Year Ending June 30: Miscellaneous Safety Total
2025 (317,067) $ (255,035) $ (572,102) $
2026 216,725 71,546 288,271
2027 (46,150) (51,707) (97,857)
2028 (62,115) (38,666) (100,781)
2029 - - -
Thereafter - - -
$ (273,862) (208,607) $ (482,469) $
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
82 11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, Continued
Actuarial Assumptions -The total pension liabilities in the June 30, 2025 actuarial valuations were determined using the following actuarial assumptions:

Miscellaneous Safety - Police

PEPRA -
Miscellaneous
PEPRA Safety -
Police Fire Safety
Valuation Date 30-Jun-23 30-Jun-23 30-Jun-23 30-Jun-23 30-Jun-23 Measurement 30-Jun-24 30-Jun-24 30-Jun-24 30-Jun-24 30-Jun-24 Actuarial Cost Method
Actuarial Assumptions:

Discount Rate 6.90% 6.90% 6.90% 6.90% 6.90%
Inflation 2.30% 2.30% 2.30% 2.30% 2.30%
Projected Salary Increase Varies by entry age and service Mortality
Entry-Age Normal Cost Method
Derived using CalPERS' Membership Data for all Funds
The underlying mortality table used was developed based on CalPERS’ specific data. The table includes 20 years of mortality improvements using Society of Actuaries Scale BB. For more details, please refer to the 2014 experience study report.

All other actuarial assumptions used in the June 30, 2025 valuation were based on the results of an actuarial experience study for the fiscal years 1997 to 2011, including updates to salary increase, mortality and retirement rates. The Experience Study can be obtained at CalPERS’ website under Forms and Publications.

Discount Rate - The discount rate used to measure the total pension liability was 6.90 percent. To determine whether the municipal bond rate should be used in the calculation of the discount rate for each plan, CalPERS stress tested plans that would most likely result in a discount rate that would be different from the actuarially assumed discount rate. The tests revealed the assets would not run out. Therefore, the current 6.90 percent discount rate is appropriate and the use of the municipal bond rate calculation is not deemed necessary. The long-term expected discount rate of 6.90 percent is applied to all plans in the Public Employees' Retirement Fund (PERF). The cash flows used in the testing were developed assuming that both members and employers will make their required contributions on time and as scheduled in all future years. The stress test results are presented in a detailed report called "GASB Crossover Testing Report" that can be obtained at CalPERS website under the GASB 68 section.

The long-term expected rate of return on pension plan investments was determined using a building-block 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 long-term market return expectations as well as the expected pension fund (PERF) 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 (11-60 years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each PERF fund.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
83 11. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, Continued
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 rounded down to the nearest one quarter of one percent.

The table below reflects the long-term expected real rate of return by asset class. The rate of return was calculated using the capital market assumptions applied to determine the discount rate and asset allocation.

Asset Class
Current Target
Allocation
Real Return
Years 1 - 101,2
Global equity - cap-weighted 30.0% 4.54%
Global equity non-cap-weighted 12.0% 3.84%
Private Equity 13.0% 7.28%
Treasury 5.0% 0.27%
Mortgage-backed Securities 5.0% 0.50%
Investment Grade Corporates 10.0% 1.56%
High Yield 5.0% 2.27%
Emerging Market Debt 5.0% 2.48%
Private Debt 5.0% 3.57%
Real Assets 15.0% 3.21%
Leverage -5.0% -0.59%
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-percentage point lower or 1-percentage point higher than the current rate:

Discount Rate
-1%
Current
Discount Rate
Discount Rate
+1%

5.90% 6.90% 7.90%
Employer's Net Pension Liability/(Asset) - Miscellaneous 6,615,597 3,148,505 294,578 Employer's Net Pension Liability/(Asset) - Safety 5,241,707 2,337,913 (36,981) Employer's Net Pension Liability/(Asset) - Total 11,857,304 $ 5,486,418 $ 257,597 $ Pension Plan Fiduciary Net Position - Detailed information about each pension plan's fiduciary net position is available in the separately issued CalPERS financial reports.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
84 12. OTHER POST EMPLOYMENT BENEFITS (OPEB)
Plan Description
The City offers its employees a post-retirement health program, a Single Employer plan, which includes medical and dental coverage. Upon retirement for service or disability, employees hired prior to July 1, 2011 (January 1, 2012 for Fort Bragg Police Officer Association members) retiring directly from service at age 50 or over with 10 years of service may continue coverage for themselves and their spouse’s (to whom they are married at retirement) as detailed below. Currently 19 employees meet those eligibility requirements.

Expenditures for these post-retirement benefits are recognized as monthly premiums are paid. During the fiscal year ended June 30, 2025, expenditures of $484,293 were recognized for the cost of these postretirement benefits. The OPEB plan does not issue a separate financial report.

The City pays portions of the premiums dependent on bargaining group and employee hire date as follows:

Tier 1: For retirees hired before January 1, 1992, the City pays the full cost of medical and dental premium for the former employee. In addition, the City pays a percentage of the spouse’s medical plan premium starting at the retiree’s age 60. The percentage is 10% for each year of service after 10 years, reaching 100% for those retiring with 19 or more years of service. In addition, the spouse may participate in the dental program-but at their own cost.

Tier 2: For retirees hired after January 1, 1992 and before July 1, 2003 (July 1, 2004 for Fort Bragg Police Officer Association members), the City pays the full cost of medical and dental premiums for the former employee only.

Tier 3: For retirees hired after July 1, 2003 (July 1, 2004 for Fort Bragg Police Officer Association members) and before July 1, 2007, the City pays the full cost of medical and dental premiums for the former employee until age 65 when Medicare becomes payable. Thereafter, coverage is limited to a supplemental prescription drug plan, which is paid for by the City.

Tier 4: For retirees hired after July 1, 2007 and before July 1, 2011 (January 1, 2012 for Fort Bragg Police Officer Association members), the retiree only may remain in the City’s health and dental plan until age 65, but at their own cost.

Tier 5: For retirees hired on or after July 1, 2011 (January 1, 2012 for Fort Bragg Police Officer Association members), the retiree and spouse may not participate in the City’s health plans.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
85 12. OTHER POST EMPLOYMENT BENEFITS (OPEB), Continued Employees Covered by benefit terms
At June 30, 2025, the following employees were covered by the benefit terms:

Active employees 8
Inactive employees or beneficiaries currently receiving benefits 40 Inactive employees entitled to, but not yet receiving benefits - Total Number of participants 48
City Contribution to the Plan
The 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 fiscal year ended June 30, 2025, the City’s cash contributions were $5,000 in payments to the trust, $444,293 cash benefit payments, and the estimated implied subsidy was $40,000 resulting in total payments of $489,293.

Net OPEB Liability
The City’s net OPEB liability was measured as of June 30, 2025 and the total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation dated June 30, 2023 that was rolled forward to determine the June 30, 2025 total OPEB liability, based on the following actuarial methods and assumptions:

Actuarial Valuation Date June 30, 2023
Contribution Policy Pay benefits and pre-fund annual $5,000 minimum contribution and additional amounts subject to budgetary surplus from prior fiscal year through CERBT asset Allocation Strategy 1, subject to maximum ADC Discount Rate 6.25% at June 30, 2024

6.25% at June 30, 2023
Expected Long-Term Rate of
Return on Investments
Same as discount rate. Plan assets projected to be sufficient to pay all benefits from trust
General Inflation 2.50% per annum
Mortality, Retirement,
Disability, Termination
CalPERS 2000-2019 experience study
Mortality Improvement Mortality projected fully generational with Scale MP-2021 Medical Trend Non-Medicare - 8.50% for 2025, decreasing to an ultimate rate of 3.45% in 2076 and later years
Medicare - 7.50% for 2025, decreasing to an ultimate rate of 3.45% in 2076 and later years
Municipal Bond Rate N/A
Healthcare Participation at
Retirement
Tier 1-3: 100% participate at retirement
Tier 4: No active participants remaining
Actuarial Assumptions:

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
86 12. OTHER POST EMPLOYMENT BENEFITS (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:

Target Allocation
CERBT Strategy 1
Asset Class Component
Global Equity 49% 4.56%
Fixed Income 23% 1.56%
TIPS 5% -0.08%
Commodities 3% 1.22%
REITs 20% 4.06%
100%
Expected Real
Rate of Return
Discount Rate
The discount rate used to measure the total OPEB liability was 6.25 percent. The projection of cash flows used to determine the discount rate assumed that Authority 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
The changes in the net OPEB liability for the Plan are as follows:

Total OPEB
Liability
Fiduciary Net
Position
Net OPEB
Liability
Balance at 6/30/2024* 6,334,306 $ 3,163,877 $ 3,170,429 $ Changes for the year
Service Cost 42,229 - 42,229
Interest 383,399 - 383,399
Changes of benefit terms - - -
Actual vs. expected experience - - -
Assumption changes - - -
Contributions - employer - 489,293 (489,293)
Contributions - employee - - -
Net investment income - 348,001 (348,001)
Benefit payments (484,293) (484,293) -
Administrative expenses - (1,031) 1,031
Net Changes (58,665) 351,970 (410,635)
Balance at 6/30/2025** 6,275,641 $ 3,515,847 $ 2,759,794 $ *Measurement date 6/30/2023
** Measurement date 6/30/2025
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
87 12. OTHER POST EMPLOYMENT BENEFITS (OPEB), Continued Sensitivity of the Net OPEB Liability to Changes in the Discount Rate The discount rate used for the fiscal year end 2025 is 6.25%. 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, 2025:
1% Decrease Current Rate 1% Increase
Change in Discount Rate 5.25% 6.25% 7.25%
Net OPEB Liability 3,406,006 $ 2,759,794 $ 2,207,973 $
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, 2025 (Healthcare Cost Trend Rate was assumed to start at 6.5% and grade down to

3.75% for years 2076 and thereafter):

Change in Healthcare Cost Trend Rate 1% Decrease Current Trend 1% Increase Net OPEB Liability 2,134,226 $ 2,759,794 $ 3,493,782 $
Recognition of Deferred Outflows and Deferred Inflows of Resources Gains and losses related to changes in total OPEB liability and fiduciary net position are recognized in OPEB expense systematically over time. Amounts are first recognized in OPEB expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to OPEB and are to be recognized in future OPEB expense. The recognition period differs depending on the source of the gain or loss:

Net difference between projected and
actual earnings on OPEB plan
investments
All other amounts
5 years
Expected average remaining service
lifetime (EARSL) (6.0 Years at June 30, 2025)
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
88 12. OTHER POST EMPLOYMENT BENEFITS (OPEB), Continued OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the fiscal year ended June 30, 2025, the City recognized OPEB expense of $581,246. As of fiscal year ended June 30, 2025, the City reported deferred outflows of resources related to OPEB from the following sources:

Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between expected and actual
experience 23,635 $ - $
Changes in assumptions 10,717 -
Net difference between projected and actual
earnings on plan invesments 34,579 -
Employer contributions made subsequent to the
measurement date 465,587 -
Total $ - 534,518 $
The $465,587 reported as deferred outflows of resources related to contributions subsequent to the June 30, 2025 measurement date will be recognized as a reduction of the net OPEB liability during the fiscal year ending June 30, 2026. Other amounts reported as deferred outflows of resources related to OPEB will be recognized as expense as follows:

Fiscal Year
Ended June 30,
Deferred
Outflow/(Inflows)
of Resources
2025 26,473 $
2026 103,595
2027 (31,081)
2028 (30,056)
2029 -
Thereafter -

13. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY

On December 29, 2011, the California Supreme Court upheld Assembly Bill 1X 26 (“the Bill”) that provides for the dissolution of all redevelopment agencies in the State of California. This action impacted the reporting entity of the City of Fort Bragg that previously had reported a redevelopment agency within the reporting entity of the City as a blended component unit.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
89 13. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued The Bill provides that upon dissolution of a redevelopment agency, either the city or another unit of local government will agree to serve as the “successor agency” to hold the assets until they are distributed to other units of state and local government. On January 9, 2012 the City Council elected to become the Successor Agency for the former Redevelopment Agency (RDA) in accordance with the Bill as part of City resolution number 3504-2012.

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 a newly established 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.

In accordance with the timeline set forth in the Bill (as modified by the California Supreme Court on December 29, 2011), all redevelopment agencies in the State of California were dissolved and ceased to operate as legal entities as of February 1, 2012. As allowed under Section 34176(a) of the Bill, the City elected to retain the housing functions previously performed by the former RDA. The assets and activities for the Successor Agency Housing fund continue to be reported in the City’s governmental fund financial statements.

The remaining assets, liabilities, and activities of the dissolved RDA, are reported in the Successor Agency fiduciary fund (private purpose trust fund) in the financial statements of the City.

The transfer of the assets and liabilities of the former RDA as of February 1, 2012 (effectively the same date as January 31, 2012) from governmental funds of the City to fiduciary funds was reported as an extraordinary item in the governmental fund financial statements in FY 2011/12.

Long-term Liabilities
The following is a summary of changes in long-term liabilities for the year ended June 30, 2025:

Balance Balance Due Within
June 30, 2024 Additions Retirements June 30, 2025 One Year Trust Activities:
2015 Refunding Tax Allocation Bonds 2,680,000 $ - $ (175,000) $ 2,505,000 $ 175,000 $ 2015 Refunding Tax Allocation Bonds Discount (20,498) - 1,782 (18,716) Total trust fund debt $ - 2,659,502 $ (173,218) $ 2,486,284 $ 175,000 $ Deferred outflows:
2015 Refunding Tax Allocation Bonds Deferred
Loss 59,608 (5,182) 54,426 5,182
City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
90 13. SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY, Continued 2015 Refunding Tax Allocation Bonds
In 2015 the former Fort Bragg Redevelopment Agency issued $4,040,000 of Tax Allocation Bonds for the purpose of refunding $4,005,000 of outstanding 2004 Tax Allocation Bonds and making funds available for future capital projects. The refunding took advantage of lower interest rates which were available. The refunding resulted in a difference between the reacquisition price and the carrying amount of the old debt, which has been deferred in accordance with GASB Statement No. 23. Deferred amounts for the loss on refunding and the original discount associated with the issuance of the 2015 Bonds are being amortized over the life of the 2015 issue using the straight line method.

The Bonds bear annual interest at rates varying between 2.00% and 3.25%. The Bonds were issued as a fully registered note in denominations of $5,000. Interest on the bonds are payable semi-annually each September 1 and March 1. Principal is paid in annual installments each September 1, 2016, through the fiscal year 2037 in amounts ranging from $90,000 through $250,000. The outstanding principal balance as of June 30, 2025 was $2,505,000.

Year Ending
June 30,
Principal Interest Principal
2026 175,000 75,425 (1,620)
2027 180,000 70,100 (1,620)
2028 190,000 64,550 (1,620)
2029 190,000 58,850 (1,620)
2030 195,000 53,075 (1,620)
2031-2035 1,085,000 168,850 (8,100)
2036-2040 490,000 16,088 (2,516)
Total 2,505,000 $ 506,938 $ (18,716) $
Due within one year 175,000 $ 75,425 $ (1,620) $
Due after one year 2,330,000 431,513 (17,096)
Total 2,505,000 $ 506,938 $ (18,716) $
Fiduciary Activities
Bonds
2015 Refunding
Discount

14. COMMITMENTS AND CONTINGENCIES
Litigation
The City is not involved in any active litigation at present.

Grants and Allocations
Amounts received or receivable from grant agencies are subject to audit and adjustment by grantor agencies, principally the federal and state government. During the course of FY 2024/25 no claims were disallowed.

Commitments
The City’s unexpended contractual commitments as of June 30, 2025 are listed in note 1 on page 60.

City of Fort Bragg, California
Notes to the Basic Financial Statements
For the year ended June 30, 2025
91 15. NEW ACCOUNTING PRONOUNCEMENTS
The GASB has issued Statement No. 100, "Accounting Changes and Error Corrections—an amendment of GASB Statement No. 62." The primary objective of this Statement is to enhance accounting and financial reporting requirements for accounting changes and error corrections to provide more understandable, reliable, relevant, consistent, and comparable information for making decisions or assessing accountability. The implementation of this statement did not have an effect on the financial statements.

The GASB has issued Statement No. 101, "Compensated Absences." The objective of this Statement is to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unified model and by amending certain previously required disclosures. The implementation of this statement did not have an effect on the financial statements.

The GASB has issued Statement No. 102, “Certain Risk Disclosures.” The requirements of this Statement will improve financial reporting by providing users of financial statements with essential information that currently is not often provided. The disclosures will provide users with timely information regarding certain concentrations or constraints and related events that have occurred or have begun to occur that make a government vulnerable to a substantial impact. As a result, users will have better information with which to understand and anticipate certain risks to a government’s financial condition. The implementation of this statement did not have an effect on the financial statements.

The GASB has issued Statement No. 103, “Financial Reporting Model Improvements.” The objective of this Statement is to improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability. This Statement also addresses certain application issues. The requirements of this Statement will take effect for financial statements starting with the fiscal year that ends June 30, 2026.

The GASB has issued Statement No. 104, “Disclosure of Certain Capital Assets.” The objective of this Statement is to improve the clarity and consistency of note disclosures related to capital assets by requiring governments to separately disclose certain types of capital assets, including lease assets, intangible right-to-use assets, subscription assets, and capital assets held for sale. These enhanced disclosures are intended to provide financial statement users with more decision-useful information about the nature and composition of a government’s capital assets. The requirements of this Statement will take effect for financial statements starting with the fiscal year that ends June 30, 2026.
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REQUIRED SUPPLEMENTARY INFORMATION
93 City of Fort Bragg, California
and Related Ratios
for the Measurement Periods Ended June 30,
2025 2024 2023
Total OPEB Liability
Service Cost $ 43,707 42,229 $ 46,774 $
Interest on the total OPEB liability 343,631 383,399 347,518 Experience (Gains)/Losses - - -
Actual vs. expected experience 496,317 - -
Changes of assumptions 225,039 - -
Benefit payments (457,544) (484,293) (449,289)
Net change in total OPEB liability (58,665) 651,150 (54,997) Total OPEB liability ဨ beginning 5,683,156 6,334,306 5,738,153 Total OPEB liability ဨ ending (a) $ 6,334,306 6,275,641 $ 5,683,156 $ Plan fiduciary net position
Contributions ဨ employer $ 462,544 489,293 $ 454,289 $
Contributions ဨ employee - - -
Actual investment income 190,672 348,001 (459,120)
Administrative expense (863) (1,031) (869)
Benefit payments (457,544) (484,293) (449,289)
Net change in plan fiduciary net position 194,809 351,970 (454,989) Plan fiduciary net position ဨ beginning 2,969,068 3,163,877 3,424,057 Plan fiduciary net position ဨ ending (b) $ 3,163,877 3,515,847 $ 2,969,068 $ Net OPEB liability ဨ ending (a) ဨ (b) $ 3,170,429 2,759,794 $ 2,714,088 $ Covered payroll $ 773,383 847,173 $ 1,040,847 $
Net OPEB liability as a percentage of
covered payroll 325.77% 409.94% 260.76%
Notes to Schedule
Required Supplementary Information - Schedule of Changes in the Net OPEB 1) GASB 75 requires presentation of the 10ဨyear history of changes in the Net OPEB Liability. Additional years will be added as they become available.
94 2022 2021 2020 2019 2018
$ 81,253 74,649 $ 104,512 $ 111,530 $ 119,019 $
383,562 381,864 378,816 366,137 353,775
- - (287,306) - -
- (63,893) - - -
(96,029) (26,853) 218,506 - -
(354,262) (420,407) (287,648) (277,993) (286,331)
(54,640) 14,524 126,880 199,674 186,463
5,778,269 5,792,793 5,651,389 5,451,715 5,265,252
$ 5,792,793 5,738,153 $ 5,778,269 $ 5,651,389 $ 5,451,715 $ $ 359,262 420,407 $ 292,648 $ 492,993 $ 534,256 $
- - - - -
91,502 738,656 150,805 164,052 172,839
(1,266) (1,017) (522) (3,826) (883)
(354,262) (420,407) (287,648) (277,993) (286,331)
95,236 737,639 155,283 375,226 419,881
2,591,182 2,686,418 2,435,899 2,060,673 1,640,792
$ 2,686,418 3,424,057 $ 2,591,182 $ 2,435,899 $ 2,060,673 $ $ 3,106,375 2,314,096 $ 3,187,087 $ 3,215,490 $ 3,391,042 $ $ 1,893,338 1,132,693 $ 1,834,372 $ 2,730,484 $ 2,197,777 $ 204.30% 164.07% 173.74% 117.76% 154.29%
95 City of Fort Bragg, California
Required Supplementary Information - Net OPEB Liability Schedule of Contributions June 30, 2025
Fiscal Year Ended June 30, 2025 2024 2023 2022 2021
Actuarially Determined Contribution (ADC) 332,893 $ 228,498 $ 230,888 $ 343,213 $ 348,790 $ Contributions in relation to the ADC 465,587 489,293 462,544 454,289 425,407 Contribution deficiency ( excess) (132,694) $ (260,795) $ (231,656) $ (111,076) $ (76,617) $ Covered payroll 787,617 847,173 773,383 1,040,847 1,132,693 Contributions as a percentage of covered payroll 59.11% 57.76% 59.81% 43.65% 37.56% Fiscal Year Ended June 30, 2020 2019 2018
Actuarially Determined Contribution (ADC) 374,658 $ 375,390 $ 559,726 $ Contributions in relation to the ADC 359,262 292,648 492,993 Contribution deficiency ( excess) 15,396 $ 82,742 $ 66,733 $ Covered payroll 1,893,338 1,834,372 2,730,484
Contributions as a percentage of covered payroll 18.98% 15.95% 18.06% Notes to Schedule
1) GASB 75 requires presentation of the 10ဨyear history of changes in the Net OPEB Liability. Additional years will be added as they become available.
96 City of Fort Bragg, California
Required Supplementary Information - Schedule of Contributions Miscellaneous Plan
Last 10 Fiscal Years*
2025 2024 2023 2022 2021
Contractually required contribution (actuarially
determined) $ 339,772 474,948 $ 321,465 $ 628,487 $ 540,516 $ Contributions in relation to the actuarially
determined contributions (339,772) (474,948) (321,465) (628,487) (540,516) Contribution deficiency (excess) - $ - $ - $ - $ - $
Covered payroll $ 3,656,001 4,237,319 $ 3,129,486 $ 2,614,508 $ 2,327,258 $ Contribution as a percentage of covered payroll 11.21% 9.29% 10.27% 24.04% 23.23% 2020 2019 2018 2017
Contractually required contribution (actuarially
determined)
$ 455,093 514,099 $ 430,051 $ 392,300 $
Contributions in relation to the actuarially
determined contributions
(394,321) (514,099) (430,051) 392,300
Contribution deficiency (excess)
$ 60,772 - $ - $ 784,600 $
Covered payroll
$ 2,833,921 2,661,903 $ 2,641,425 $ 2,598,675 $
Contribution as a percentage of covered payroll

19.31% 16.06% 16.28% 15.10%
Notes to Schedule
1) Covered payroll represents compensation earnable and pensionable compensation. Only compensation earnable and pensionable compensation that would possibly go into the determination of retirement benefits are included. * Additional years will be presented as they become available. 97 City of Fort Bragg, California
Required Supplementary Information - Schedule of Contributions Safety Plan
Last 10 Fiscal Years*
2025 2024 2023 2022 2021
Contractually required contribution (actuarially
determined) $ 245,110 351,042 $ 427,837 $ 620,401 $ 558,561 $ Contributions in relation to the actuarially
determined contributions (245,110) (351,042) (427,837) (620,401) (558,561) Contribution deficiency (excess) - $ - $ - $ - $ - $
Covered payroll $ 1,535,085 1,574,022 $ 1,384,365 $ 1,119,662 $ 1,071,290 $ Contribution as a percentage of covered payroll 22.30% 15.97% 30.90% 55.41% 52.14% 2020 2019 2018 2017
Contractually required contribution (actuarially
determined) $ 471,193 637,647 $ 298,630 $ 387,206 $
Contributions in relation to the actuarially
determined contributions (471,193) (637,647) (298,630) (387,206) Contribution deficiency (excess) - $ - $ - $ - $
Covered payroll $ 1,048,497 1,145,799 $ 1,268,709 $ 1,245,549 $ Contribution as a percentage of covered payroll 55.65% 44.94% 23.54% 31.09% Notes to Schedule
* Additional years will be presented as they become available. 1) Covered payroll represents compensation earnable and pensionable compensation. Only compensation earnable and pensionable compensation that would possibly go into the determination of retirement benefits are included. 98 City of Fort Bragg, California
Required Supplementary Information - Schedule of the City's Proportionate Share of the Net Pension Liability
Miscellaneous Plan
Last 10 Fiscal Years*
2024 2023 2022 2021 2020
Plan's Proportion of the Net Pension Liability/(Asset) 0.06510% 0.06368% 0.06550% 0.16609% 0.13012% Plan's Proportionate Share of the Net Pension
Liability/(Asset) $ 3,184,191 3,148,505 $ 3,064,833 $ 3,153,761 $ 5,488,390 $ Plan's Covered Payroll $ 3,129,486 3,656,001 $ 2,614,508 $ 2,327,258 $ 2,661,903 $ Plan's Proportionate Share of the Net Pension
Liability/(Asset) as a Percentage of its Covered Payroll 86.12% 101.75% 117.22% 135.51% 206.18% Plan's Proportionate Share of the Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liability 87.75% 87.30% 87.29% 86.24% 74.96% Plan's Proportionate Share of Aggregate Employer
Contribution $ 909,991 860,544 $ 1,092,169 $ 777,490 $ 734,213 $ 2019 2018 2017 2016
Plan's Proportion of the Net Pension Liability/(Asset) 0.12508% 0.12037% 0.11653% 0.11210% Plan's Proportionate Share of the Net Pension
Liability/(Asset) $ 4,593,661 5,008,648 $ 4,593,661 $ 3,894,091 $ Plan's Covered Payroll $ 2,788,318 2,833,921 $ 2,641,425 $ 2,551,931 $ Plan's Proportionate Share of the Net Pension
Liability/(Asset) as a Percentage of its Covered Payroll 176.74% 164.75% 173.91% 152.59% Plan's Proportionate Share of the Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liability 76.25% 76.38% 76.38% 82.66% Plan's Proportionate Share of Aggregate Employer
Contribution $ 394,321 455,093 $ 430,051 $ 392,300 $
Notes to Schedule
1) Covered employee payroll represents compensation earnable and pensionable compensation. Only compensation earnable and pensionable compensation that would possibly go into the determination of retirement benefits are included. * Additional years will be presented as they become available. 99 City of Fort Bragg, California
Required Supplementary Information - Schedule of the City's Proportionate Share of the Net Pension Liability
Safety Plan
Last 10 Fiscal Years*
2024 2023 2022 2021 2020
Plan's Proportion of the Net Pension Liability/(Asset) 0.03207% 0.03263% 0.03491% 0.09104% 0.07793% Plan's Proportionate Share of the Net Pension
Liability/(Asset) $ 2,438,768 2,337,913 $ 2,399,174 $ 3,194,968 $ 5,192,221 $ Plan's Covered Payroll $ 1,384,365 1,535,085 $ 1,119,662 $ 1,071,290 $ 1,145,799 $ Plan's Proportionate Share of the Net Pension
Liability/(Asset) as a Percentage of its Covered Payroll 152.30% 176.17% 214.28% 298.24% 453.15% Plan's Proportionate Share of the Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liability 89.00% 88.10% 87.73% 82.87% 69.95% Plan's Proportionate Share of Aggregate Employer
Contribution $ 719,493 698,772 $ 1,144,186 $ 826,040 $ 625,589 $ 2019 2018 2017 2016
Plan's Proportion of the Net Pension Liability/(Asset) 0.07899% 0.07811% 0.08042% 0.08218% Plan's Proportionate Share of the Net Pension
Liability/(Asset) $ 4,667,131 4,931,069 $ 4,165,367 $ 3,320,431 $ Plan's Covered Payroll $ 1,268,709 1,048,497 $ 1,245,549 $ 1,188,962 $ Plan's Proportionate Share of the Net Pension
Liability/(Asset) as a Percentage of its Covered Payroll 470.30% 367.86% 334.42% 353.81% Plan's Proportionate Share of the Fiduciary Net Position as a Percentage of the Plan’s Total Pension Liability 70.68% 69.76% 70.60% 75.04% Plan's Proportionate Share of Aggregate Employer
Contribution $ 578,574 637,647 $ 387,206 $ 315,525 $
Notes to Schedule
* Additional years will be presented as they become available. 1) Covered employee payroll represents compensation earnable and pensionable compensation. Only compensation earnable and pensionable compensation that would possibly go into the determination of retirement benefits are included. 100

COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES
101
Fund Type
Special Revenue
Capital Projects Funds

NON-MAJOR GOVERNMENTAL FUNDS
Description
These funds account for restricted revenues (for specified purposes).

These funds account for construction or acquisition of
governmental capital assets (capital outlay).
102
City of Fort Bragg, California
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
Special Capital
Revenue Funds Projects Funds
ASSETS
Cash and investments $ 800,000 4,178,808 $ 4,978,808 $
Restricted cash and investments - - -
Receivables:

Intergovernmental - 1,292,247 1,292,247
Loans/Notes receivable 172,815 - 172,815
Other receivable 130,165 - 130,165
Due from other funds 202,879 - 202,879
Total assets $ 1,002,879 5,774,035 $ 6,776,914 $

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities 18,778 $ 34,137 $ 52,915 $ Due to other funds 1,001,072 229,011 1,230,083
Deposits Payable 104,237 - 104,237
Total liabilities: 263,148 1,124,087 1,387,235
Deferred inflows of resources:

Unavailable revenue 201,407 - 201,407
Total deferred inflows of resources - 201,407 201,407
Total liabilities and deferred inflows 263,148 1,325,494 1,588,642 Fund Balances:

Restricted - 2,533,652 2,533,652
Assigned 739,731 2,051,079 2,790,810
Unassigned (deficit) - (136,190) (136,190)
Total fund balances 739,731 4,448,541 5,188,272
Total liabilities, deferred inflows and fund balances $ 1,002,879 5,774,035 $ 6,776,914 $ Funds Totals
Non-Major
Governmental Funds
103
City of Fort Bragg, California
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds
For the year ended June 30, 2025
Special Capital
Revenue Funds Projects Funds
REVENUES:

Taxes and assessments $ - 1,307,853 $ 1,307,853 $
Fines and forfeitures 100,806 - 100,806
Intergovernmental - 2,507,547 2,507,547
Use of money and property - 224,665 224,665
Charges for services 95,487 - 95,487
Total revenues - 4,236,358 4,236,358
EXPENDITURES:

Current:

General government - 550 550
Public safety - 435,493 435,493
Public works 588,645 - 588,645
Community development - 652,238 652,238
Capital outlay 377,540 - 377,540
Total expenditures 377,540 1,676,926 2,054,466
REVENUES OVER (UNDER) EXPENDITURES (377,540) 2,559,432 2,181,892 OTHER FINANCING SOURCES (USES):

Proceeds from bonds issued - - -
Transfers in 1,148,913 247,339 1,396,252
Transfers out - (2,540,239) (2,540,239)
Total other financing
sources (uses) 1,148,913 (2,292,900) (1,143,987)

REVENUES AND OTHER FINANCING SOURCES OVER
(UNDER) EXPENDITURES AND OTHER
FINANCING (USES) 771,373 266,532 1,037,905
FUND BALANCES:

Beginning of year (31,642) 4,182,009 4,150,367
End of year $ 739,731 4,448,541 $ 5,188,272 $
Funds Totals
Non-Major
Governmental Funds
104
Fund
General Plan Maintenance Fee
Housing
Parking
Parking In-Lieu Fees
Parkland Monitoring and Reporting
State Tobacco License Fee
State Disability Access Fee
Asset Forfeiture
Construction/Demolition Ordinance
Revenue
(continued)
To account for monies obtained from seized assets of criminal activities.

The funds are used solely to support law enforcement purposes.

To account for deposits that are made in accordance with the City's Construction & Demolition Ordinance. Deposit are refunded if recycling goals are met. Otherwise, the deposits are forfeited and retained in the special revenue fund. The funds will be used to improve construction and demolition waste recycling facilities, education, and programs within the City.

To account for funds received under California SB-1186 which mandates a state fee of $4 on any applicant for or renewal of a local business license. The purpose is to increase disability access and compliance with construction-related accessibility requirements and to develop educational resources for businesses in order to facilitate compliance with federal and state disability laws.

NON-MAJOR SPECIAL REVENUE FUNDS
Description
Special Revenue Funds account for the proceeds of specific revenue sources that are restricted or committed to expenditure for specified purposes other than debt service or capital project and exclusive of resources held in trust for individual, private orgaizations, or other governments. The City has a number of different special revenue funds which are part of the nonoperating budget. The City's non-major special revenue funds includ the following:

To account for funds received for the annual Tobacco Retail License to cover costs associated with administration of the licensing program and compliance checks.

To account for General Plan Maintenance fee revenue which is required to be used for costs related to the update of the City’s General Plan and zoning code.

To account for Inclusionary Housing In-Lieu fee revenue which is required to be used for affordable housing activities.

To account for parking permit revenues and the cost of maintaining City owned public parking lots.

To account for payments made by downtown property owners in lieu of providing on-site parking. Accumulated funds must be used for activities related to providing off-street parking facilities in the central business district.

To account for payments made by Georgia Pacific for monitoring and maintenance of the Coastal Trail remediation area.
105
Fund
Waste Management Community
Benefit Payment
Gas Tax
RMRA
Traffic & Safety
Fire Equipment
Mendocino Council of Governments
(MCOG) Overall Work Program
(OWP) Grants
OJ Park Maintenance Fund
Developer Deposits Accounts
Casper JPA Transfer Station
SB 1383
Noyo Harbor Blue Economy
(continued)
To account for contract extension fee received from Waste Management.

The City Council has designated these funds for the community benefit purposes.

To account for the revenue received from traffic fines which is restricted to City street repairs and traffic safety.

To account for property tax revenues designated for the purchase of equipment for the Fort Bragg Fire Department.

To account for the City’s share of the State of California’s Road Maintenance and Rehabilitation Account which is legally restricted to the maintenance and improvement of City roads and streets.

To account for monies received from the Johnson Family Trust for the maintenance of OJ Park.

To account for local transportation funds awarded for transportation planning and technical assistance.

To account for the City’s share of State of California’s Highway User Tax collected by the State that are legally restricted to the maintenance and improvement of City roads and streets.

NON-MAJOR SPECIAL REVENUE FUNDS, Continued
To account for monies received from developers to cover City costs associated with development projects.

The Caspar transfer site is a joint city/county operation and is currently contracted to SWOW (solid waste of Willits) and overseen by the Caspar Coordinating Committee. This fund is the result of a $3 gate fee and has historically been dedicated to efforts around relocating and building a more permanent, regional transfer station.

Accounts for the SB 1383 regulatory reimbursements to the City of Fort Bragg from the Solid waste provider. The City shall use the reimbursements to offset expenses, including but not limited to, staffing costs related to City programs. Pilot studies, education and outreach and other activities involved in compliance with SB 1383 regulatory reimbursements.

Description
Visioning, Resiliency and Implementation Plan (Noyo Harbor Plan) that will support a strategic climate resilience planning effort, and the findings will be integrated into an LCP update for both the City of Fort Bragg and County of Mendocino.
106
Fund
Special Sales Tax - Street Repair Special
Revenue
Permanent Local Housing Special Revenue
Community Development Block
Grant Funds Unclassified Program
Income
COPS AB1913
Bulletproof Vest Partnership Grant
STP D1 Streets & Highways
Allocation
HCD HOME Grant
CDBG Super NOFA Special Revenue
(concluded)
Federal and State Grant Special Revenue Funds:

The Community Development Block Grant program provides competitive grants to enables local government to undertake a wide range of activities intended to create suitable living environments, provide decent affordable house, and create economic opportunities, primarily for persons of low and moderate income.

NON-MAJOR SPECIAL REVENUE FUNDS, Continued
Description
To account for monies received from the State or law enforcement services under the Citizens Option for Public Safety (COPS) Program. [the CSO funding was expended long ago; future funding may be acquired]
To account for monies received under the Bulletproof Vest Partnership Grant Act. This program is designed to pay up to 50% of the cost of National Institute of Justice (NIJ) compliant armored vests purchases for local law enforcement.

Accounts for the City’s Special Sales Tax for Street and Alley Repairs.

Provides funding to local governments in California for housing-related projects and programs that assist in addressing the unmet housing needs of their local communities. The City Council of Fort Bragg approved a resolution in 2021 to authorize the application for PLHA program to support the DANCO project. The City received $2.4 million for this purpose, of which $2.28 million is allocated as a loan for the project, while the remaining funds cover the city's administrative expenses.

To account for CDBG grants awarded under the 2009 Recovery Act allocation for a housing project rehabilitation and under the 2010 General Allocation for two housing programs, public facility improvements, and a public service program.

To account for the City’s share of highways users’ tax revenues that are legally restricted to the planning, construction, improvement, maintenance and operation of City roads and streets.

To account for Federal Funding to be used to re-establish a Housing Rehabilitation Loan program for qualified low- and moderate-income homeowners.
107
City of Fort Bragg, California
Combining Balance Sheet
Nonmajor Special Revenue Funds
June 30, 2025
General Plan
Maintenance Parking
Fee Housing Parking In-lieu Fees
ASSETS
Cash and investments $ 80,001 210,524 $ 38,829 $ - $
Receivables:

Intergovernmental - - - -
Loans/Notes receivable - - - -
Other receivable - - - -
Total assets $ 80,001 210,524 $ 38,829 $ - $

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable - $ - $ - $ - $
Due to other funds - - - 5,137
Deposits payable - - - -
Total liabilities: - - - 5,137
Deferred inflows of resources:

Unavailable revenue - - - -
Total deferred inflows of resources: - - - -
Total liabilities and deferred inflows - - - 5,137
Fund Balances:

Restricted - - - -
Assigned 80,001 38,829 - 210,524
Unassigned (deficit) - - - (5,137)
Total fund balances 80,001 210,524 38,829 (5,137)
Total liabilities deferred inflows and fund balances $ 80,001 210,524 $ 38,829 $ - $ 108
Waste
Parkland State State Construction/ Management
Monitoring/ Tobacco Disability Asset Demolition Community Reporting License Fee Access Fee Forfeiture Ordinance Benefit Pymt Gas Tax $ 30,733 139,533 $ 24,765 $ 295,035 $ 142,948 $ 269 $ - $ - - 11 3,008 - - 34,197
- - - - - - -
- - - - - - -
$ 30,733 139,533 $ 24,776 $ 298,043 $ 142,948 $ 269 $ 34,197 $ $ - 446 $ 8 $ 770 $ - $ - $ - $
- - - - - - -
- - - - - - -
- 446 8 770 - - -
- - - - - - -
- - - - - - -
- 446 8 770 - - -
- - - 297,273 - - 34,197
139,087 30,733 24,768 - 142,948 269 -
- - - - - - -
30,733 139,087 24,768 297,273 142,948 269 34,197
$ 30,733 139,533 $ 24,776 $ 298,043 $ 142,948 $ 269 $ 34,197 $ (continued)
109
City of Fort Bragg, California
Combining Balance Sheet
Nonmajor Special Revenue Funds, continued
June 30, 2025
MCOG OJ Park
Traffic & Fire Overall Work Maintenance
RMRA Safety Equipment Plan Fund
ASSETS
Cash and investments $ - 27,086 $ 151,934 $ - $ 2,110 $ Receivables:

Intergovernmental 177,765 764 - - -
Loans/Notes receivable - - - - -
Other receivable - - 3,704 - -
Total assets $ 764 204,851 $ 155,638 $ - $ 2,110 $

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable - $ - $ - $ - $ - $
Due to other funds 159,873 - - 15,363 -
Deposits payable - - - - -
Total liabilities: - 159,873 - 15,363 -
Deferred inflows of resources:

Unavailable revenue - - - - -
Total deferred inflows of resources: - - - - -
Total liabilities and deferred inflows - 159,873 - 15,363 - Fund Balances:

Restricted - - - - -
Assigned 764 44,978 155,638 - 2,110
Unassigned (deficit) - - - (15,363) -
Total fund balances 764 44,978 155,638 (15,363) 2,110
Total liabilities deferred inflows and fund balance $ 764 204,851 $ 155,638 $ - $ 2,110 $ 110
Developer Casper JPA Noyo Permanent Federal and
Deposit Transfer Habor Blue Special Local State Grant
Accounts Station SB 1383 Economy Sales Tax Housing Funds Total $ 453,959 - $ 154,900 $ - $ 477,226 $ 387,638 $ 1,561,318 $ 4,178,808 $ - - 183,933 139,801 222,156 - 530,612 1,292,247
- - - - - 172,815 172,815
- 126,461 - - - - - 130,165
$ 453,959 126,461 $ 338,833 $ 139,801 $ 699,382 $ 387,638 $ 2,264,745 $ 5,774,035 $ $ - - $ - $ 13,573 $ - $ - $ 3,981 $ 18,778 $
28,549 - - 235,593 - - 556,557 1,001,072
104,237 - - - - - - 104,237
- 132,786 - 249,166 - - 560,538 1,124,087
- - - - - 201,407 201,407
- - - - - - 201,407 201,407
- 132,786 - 249,166 - - 761,945 1,325,494
- - - - 699,382 - 1,502,800 2,533,652
453,959 - 338,833 - - 387,638 - 2,051,079
- (6,325) - (109,365) - - - (136,190)
453,959 (6,325) 338,833 (109,365) 699,382 387,638 1,502,800 4,448,541 $ 453,959 126,461 $ 338,833 $ 139,801 $ 699,382 $ 387,638 $ 2,264,745 $ 5,774,035 $ (concluded)
111
City of Fort Bragg, California
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Special Revenue Funds
For the year ended June 30, 2025
General Plan
Maintenance Parking
Fee Housing Parking In-lieu Fees
REVENUES:

Taxes and assessments $ - - $ - $ - $
Fines and forfeitures - - - -
Intergovernmental - - - -
Use of money and property 6,084 2,530 1,211 -
Charges for services 29,763 - - -
Total revenues 2,530 35,847 1,211 -
EXPENDITURES:

Current:

General government 550 - - -
Public safety - - - -
Public works - - - -
Community development 2,710 - - -
Total expenditures 2,710 550 - -

REVENUES OVER (UNDER)
EXPENDITURES (180) 35,297 1,211 -
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out - - - -
Total other financing
sources and uses - - - -

REVENUES AND OTHER FINANCING

SOURCES OVER (UNDER)

EXPENDITURES AND OTHER
FINANCING (USES) (180) 35,297 1,211 -
FUND BALANCES (DEFICITS):

Beginning of year 175,227 80,181 37,618 (5,137)
End of year $ 80,001 210,524 $ 38,829 $ (5,137) $
112
Waste
Parkland State State Construction/ Management
Monitoring/ Tobacco Disability Asset Demolition Community Reporting License Fee Access Fee Forfeiture Ordinance Benefit Pymt Gas Tax $ - - $ - $ - $ - $ - $ 8,298 $
- - - 70,005 28,981 - -
2,848 - - - - - 233,761
4,440 913 771 12,822 - - 1,309
- - - - - - -
3,761 4,440 771 82,827 28,981 - 243,368
- - - - - - -
- - - 264,889 - - -
- 3,516 - - - - 177,646
- - - - - - -
- 3,516 - 264,889 - - 177,646
3,761 924 771 (182,062) 28,981 - 65,722
- - - - - - -
- - - (2,147) - - -
- - - (2,147) - - -
3,761 924 771 (184,209) 28,981 - 65,722
138,163 26,972 23,997 481,482.00 113,967 269 (31,525)
$ 30,733 139,087 $ 24,768 $ 297,273 $ 142,948 $ 269 $ 34,197 $ (continued)
113
City of Fort Bragg, California
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Special Revenue Funds, continued
For the year ended June 30, 2025
MCOG OJ Park
Traffic & Fire Overall Work Maintenance
RMRA Safety Equipment Plan Fund
REVENUES:

Taxes and assessments $ - - $ 52,908 $ - $ - $
Fines and forfeitures - 1,820 - - -
Intergovernmental 348,407 - - - -
Use of money and property - - 3,829 - -
Charges for services - - - - -
Total revenues 1,820 348,407 56,737 - -
EXPENDITURES:

Current:

General government - - - - -
Public safety 374 - - - -
Public works 203,966 - - - 16,458
Community development - - - - -
Total expenditures 374 203,966 - 16,458 -

REVENUES OVER (UNDER)
EXPENDITURES 1,446 144,441 56,737 (16,458) -
OTHER FINANCING SOURCES (USES):

Transfers in - - - - -
Transfers out (159,873) - - - -
Total other financing
sources and uses - (159,873) - - -

REVENUES AND OTHER FINANCING

SOURCES OVER (UNDER)

EXPENDITURES AND OTHER
FINANCING (USES) 1,446 (15,432) 56,737 (16,458) -
FUND BALANCES (DEFICITS):

Beginning of year (682) 60,410 98,901 1,095 2,110
End of year $ 764 44,978 $ 155,638 $ (15,363) $ 2,110 $ 114
Developer Casper JPA Noyo Permanent Federal and
Deposit Transfer Habor Blue Special Local State Grant
Account Station SB 1383 Economy Sales Tax Housing Funds Totals $ - - $ - $ - $ 1,246,647 $ - $ - $ 1,307,853 $
- - - - - - - 100,806
- - 204,077 286,586 - - 1,431,868 2,507,547
600 - - - 26,649 163,507 - 224,665
65,724 - - - - - - 95,487
66,324 - 204,077 286,586 1,273,296 163,507 1,431,868 4,236,358 - - - - - - - 550
- - - - - - 170,230 435,493
- - - - 187,059 - - 588,645
7,531 250 405,497 - - - 236,250 652,238
7,531 - 250 405,497 187,059 - 406,480 1,676,926
58,793 - 203,827 (118,911) 1,086,237 163,507 1,025,388 2,559,432 - - - - 247,339 - 247,339
- - - (793,625) - (1,584,594) (2,540,239)
- - - - (793,625) - (1,337,255) (2,292,900)
58,793 - 203,827 (118,911) 292,612 163,507 (311,867) 266,532 (6,325) 395,166 135,006 9,546 406,770 224,131 1,814,667 4,182,009 $ 453,959 (6,325) $ 338,833 $ (109,365) $ 699,382 $ 387,638 $ 1,502,800 $ 4,448,541 $ (concluded)
115
City of Fort Bragg, California
Combining Balance Sheet
Federal and State Grant Special Revenue Funds
June 30, 2025
STP D1
CDBG Streets and HCD
Unclassified Highway HOME
Program Income COPS Allocation Grant
ASSETS
Cash and investments $ 61,496 7,025 $ 1,133 $ 43,592 $
Restricted cash and investments - -
Receivables:

Intergovernmental - - - -
Loans/Notes receivable - - - 172,815
Total assets $ 61,496 7,025 $ 1,133 $ 216,407 $

LIABILITIES, DEFERRED INFLOWS

AND FUND BALANCES
Liabilities:

Accounts payable - $ - $ - $ - $
Due to other funds - - - 9,116
Total liabilities - - - 9,116
Deferred inflows of resources:

Unavailable revenue 201,407 -
Total deferred inflows of resources: - - - 201,407
Total liabilities and deferred inflows - - - 210,523
Fund Balances:

Restricted 7,025 61,496 1,133 5,884
Unassigned (deficit) - - - -
Total fund balances 61,496 7,025 1,133 5,884
Total liabilities deferred inflows and fund balances $ 61,496 7,025 $ 1,133 $ 216,407 $ 116
CDBG CDBG Grant
Super NOFA CDBG Grant Covid Totals
$ 32,106 34,496 $ 1,381,470 $ 1,561,318 $
530,612 - 530,612
- - - 172,815
$ 562,718 34,496 $ 1,381,470 $ 2,264,745 $
$ - - $ 3,981 3,981 $
524,229 23,212 - 556,557
524,229 23,212 3,981 560,538
- - - 201,407
- - - 201,407
524,229 23,212 3,981 761,945
38,489 11,284 1,377,489 1,502,800
- - -
38,489 11,284 1,377,489 1,502,800
$ 562,718 34,496 $ 1,381,470 $ 2,264,745 $
117
City of Fort Bragg, California
Combining Statement of Revenues, Expenditures and Changes in Fund Balances Federal and State Grant Special Revenue Funds
For the year ended June 30, 2025
STP D1
CDBG Streets and HCD
Unclassified Highway HOME
Program Income COPS Allocation Grant
REVENUES:

Intergovernmental $ 194,664 - $ 433,896 $ - $
Total revenues 194,664 - 433,896 -
EXPENDITURES:

Current:

Public safety 170,230 - - -
Community development - - 12,498 -
Total expenditures 170,230 - 12,498 -

REVENUES OVER (UNDER)
EXPENDITURES 24,434 - 421,398 -
OTHER FINANCING SOURCES (USES):

Transfers in - - - -
Transfers out - - - (426,991)
Total other financing sources and uses - - (426,991) -

REVENUES AND OTHER FINANCING SOURCES

OVER (UNDER) EXPENDITURES AND OTHER
FINANCING (USES) 24,434 - (5,593) -
FUND BALANCES (DEFICIT):

Beginning of year 37,062 7,025 6,726 5,884
End of year $ 61,496 7,025 $ 1,133 $ 5,884 $
118
CDBG CDBG Grant
Super NOFA CDBG Grant COVID Totals
$ 13,132 790,176 $ 1,431,868 $
790,176 - 13,132 1,431,868
- - - 170,230
120,349 103,403 236,250
120,349 - 103,403 406,480
669,827 - (90,271) 1,025,388
- - 247,339 247,339
- (1,157,603) (1,584,594)
(1,157,603) - 247,339 (1,337,255)
(487,776) - 157,068 (311,867)
526,265 11,284 1,220,421 1,814,667
$ 38,489 11,284 $ 1,377,489 $ 1,502,800 $
119
City of Fort Bragg, California
Combining Balance Sheet
Nonmajor Capital Projects Funds
June 30, 2025
Street
Resurfacing
ASSETS
Cash and investments $ 800,000
Due from other funds 202,879
Total assets $ 1,002,879

LIABILITIES

AND FUND BALANCES
Liabilities:

Accounts payable 34,137 $
Due to other funds 229,011
Total liabilities: 263,148
Fund Balances:

Assigned 739,731
Total fund balances 739,731
Total liabilities and fund balances $ 1,002,879
120
City of Fort Bragg, California
Nonmajor Capital Projects Fund
For the year ended June 30, 2025
Street
Resurfacing
REVENUES:

Use of money and property $ -
Total revenues -
EXPENDITURES:

Current:

Public works -
Capital outlay 377,540
Total expenditures 377,540

REVENUES OVER (UNDER)
EXPENDITURES (377,540)
OTHER FINANCING SOURCES (USES):

Proceeds from bonds issued -
Transfers in 1,148,913
Transfers out -
Total other financing
sources and uses 1,148,913

REVENUES AND OTHER FINANCING

SOURCES OVER (UNDER)

EXPENDITURES AND OTHER
FINANCING (USES) 771,373
FUND BALANCES (DEFICITS):

Beginning of year (31,642)
End of year $ 739,731
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
121
Fund Type
Building Maintenance
Information Technology Fund
Fleet Services

INTERNAL SERVICE FUNDS
Description
Accounts for all activities of the City's central garage operations, the costs of which are distributed among designated user departments.

Accounts for all activities of the City's computer networks, the costs of which are distributed among user departments using equitable formulas.

Accounts for the maintenance of all City owned buildings 122
City of Fort Bragg, California
Combining Statement of Net Position
Internal Service Funds
June 30, 2025
Information
Building Technology Fleet
Maintenance Fund Services Totals
ASSETS
Current assets:

Cash and investments - $ - $ 491,025 $ 491,025 $
Total current assets - - 491,025 491,025
Noncurrent assets:

Capital assets, net 53,879.00 261,796 1,966,130 2,281,805 Total noncurrent assets 261,796 53,879 1,966,130 2,281,805 Total assets $ 261,796 53,879 $ 2,457,155 $ 2,772,830 $

LIABILITIES AND NET POSITION
Current liabilities:

Accounts payable - $ 31,520 $ 59,601 $ 91,121 $
Accrued liabilities - 1,206 530 1,736
Due to other funds 140,124 377,934 - 518,058
Total current liabilities 410,660 140,124 60,131 610,915 Net Position:

Net investment in capital assets 53,879 261,796 1,966,130 2,281,805 Unrestricted (140,124) (410,660) 430,894 (119,890)
Total net position (148,864) (86,245) 2,397,024 2,161,915 Total liabilities and net position $ 261,796 53,879 $ 2,457,155 $ 2,772,830 $ 123
City of Fort Bragg, California
Combining Statement of Revenues, Expenses, and Changes in Net Position Internal Service Funds
For the year ended June 30, 2025
Information
Building Technology Fleet
Maintenance Fund Services Totals
OPERATING REVENUES:

Interdepartmental charges 149,998 $ 530,997 $ 729,116 $ 1,410,111 $ Other - 21,433 - 21,433
Total operating revenues 552,430 149,998 729,116 1,431,544 OPERATING EXPENSES:

Personnel services 13,146 366,339 404,104 783,589
Repairs and maintenance 18,408 16,574 58,979 93,961
Materials and supplies - 410,138 93,630 503,768
Contractual services 18,988 17,577 1,451 38,016
Depreciation 7,481 41,844 197,633 246,958
Total operating expenses 852,472 58,023 755,797 1,666,292 OPERATING INCOME (LOSS) (300,042) 91,975 (26,681) (234,748) NONOPERATING REVENUES (EXPENSES):

Interest revenue 10,200 - - 10,200
Total non-operating revenues (expenses) - 10,200 - 10,200 NET INCOME (LOSS) BEFORE TRANSFERS (300,042) 102,175 (26,681) (224,548) Transfers in - - 2,147 2,147
Transfers out (643,225) - - (643,225)
Total transfers - (643,225) 2,147 (641,078)
Change in net position (300,042) (541,050) (24,534) (865,626) NET POSITION (DEFICIT):

Beginning of year 454,805 151,178 2,421,558 3,027,541
End of year (86,245) $ (148,864) $ 2,397,024 $ 2,161,915 $ 124
City of Fort Bragg, California
Combining Statement of Cash Flows
Internal Service Funds
For the year ended June 30, 2025
Information
Building Technology Fleet
Maintenance Fund Services Totals
CASH FLOWS FROM OPERATING ACTIVITIES:

Cash received from interfund services provided 149,998 $ 552,430 $ 729,116 $ 1,431,544 $ Cash paid to suppliers for goods and services (44,234) (581,795) (103,392) (729,421) Cash paid to employees for services (13,146) (365,675) (403,574) (782,395) Net cash provided (used) by operating activities (395,040) 92,618 222,150 (80,272)

CASH FLOWS FROM NONCAPITAL FINANCING
ACTIVITIES:

Transfers received 140,124 377,934 2,147 520,205
Transfers paid (643,225) - - (643,225)
Net cash provided (used) by noncapital financing activities 377,934 (503,101) 2,147 (123,020)

CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES:

Acquisition and construction of capital assets (7,608) (57,468) (183,410) (248,486) Net cash (used) by capital and related financing activities (57,468) (7,608) (183,410) (248,486) CASH FLOWS FROM INVESTING ACTIVITIES:

Interest on investments 10,200 - - 10,200
Net cash provided by investing activities - 10,200 - 10,200 Net increase (decrease) in cash and cash equivalents (74,574) (407,891) 40,887 (441,578) CASH AND CASH EQUIVALENTS:

Beginning of year 407,891 74,574 450,138 932,603
End of year - $ - $ 491,025 $ 491,025 $
Reconciliation of income from operations to net
cash provided (used) by operating activities:

Operating income (loss) 91,975 $ (300,042) $ (26,681) $ (234,748) $ Adjustments to reconcile operating income
to net cash provided by operating activities:

Depreciation 7,481 41,844 197,633 246,958
(Increase) decrease in current assets:

Accounts receivable - - - -
Increase (decrease) in liabilities:

Accounts payable (6,838) (137,506) 50,668 (93,676)
Accrued liabilities - 664 530 1,194
Net cash provided by operating activities $ (395,040) 92,618 $ 222,150 $ (80,272) $ 125
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126
Page(s)
Financial Trends
128-137
Revenue Capacity
138-147
Debt Capacity
148-154
Demographic and Economic Information
156-157
Operating Information
158-160
These schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place.

These schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report relates to the services the City provides and the activities it performs.

STATISTICAL SECTION
This part of the City of Fort Bragg's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, footnotes, and required supplementary information says about the City's overall financial health.

Contents
These schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time. generate revenues. Property taxes, sales and use taxes, charges for services, licenses, permits and fees and intergovernmental revenue are the City's most significant revenue sources.

These schedules contain 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 127
City of Fort Bragg, California
Net Position by Component
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Accrual basis of accounting)
(In Thousands)
2016 2017 2018 2019
Governmental activities
Net investment in capital assets 38,647 $ $39,523 $42,293 $41,400 Restricted 3,536  2,513 3,758 1,279 Unrestricted (deficit) (399)  (1,518) (5,115) (2,456) Total governmental activities net position $41,784 $40,518 $40,935 $40,223 BusinessͲtype activities
Net investment in capital assets 30,503 $ $31,597 $33,572 $37,806 Restricted 108  108 108 108 Unrestricted(deficit) 4,232  6,912 7,515 8,094 Total businessͲtype activities net position $34,843 $38,617 $41,195 $46,008 Primary government
Net investment in capital assets 69,150 $ $71,119 $75,865 $79,206 Restricted 3,644  2,621 3,866 1,387 Unrestricted (deficit) 3,833  5,395 2,400 5,638 Total primary government net position $76,627 $79,135 $82,131 $86,231 Source: City Finance Department
$Ͳ
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
2016 2017 2018 2019 2020
Governmental activities BusinessͲtype activities
128
2020 2021 2022 2023 2024 2025
$42,102 $41,686 $30,092 $42,156 $44,880 $52,945 1,922 2,947 2,578 6,755 5,840 7,475 (5,026) (4,140) 5,304 (4,057) (424) (9,175) $38,998 $40,493 $37,974 $44,854 $50,296 $51,245 $45,807 $46,331 $48,678 $50,402 $52,050 $63,839 108 108 108 108 108 644 8,704 12,277 12,985 9,755 7,407 8,462 $54,619 $58,716 $61,771 $60,265 $59,565 $72,945 $87,909 $88,017 $78,770 $92,558 $96,930 $116,784 2,030 3,055 2,686 6,863 5,948 8,119 3,678 8,137 18,289 5,698 6,983 (713) $93,617 $99,209 $99,745 $105,119 $109,861 $124,190 2021 2022 2023 2024 2025
129
City of Fort Bragg, California
Changes in Net Position
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Accrual basis of accounting)
(In Thousands)
2016 2017 2018 2019 2020
Expenses
Governmental activities:

General government 2,877 $ $2,221 $2,804 $2,384 $2,623 Public safety 4,187 4,388 4,461 4,338 5,374 Public works 2,108  2,750 2,873 2,979 3,122 Community development 1,700  1,018 1,208 1,056 876 Parks and recreation Ͳ  Ͳ 38  Ͳ  Ͳ  Marketing and promotions  Ͳ Ͳ  Ͳ  Ͳ  186 Interest and fiscal charges 26 21 53 47 5 Total governmental activities expenses 10,898  10,434 11,399 10,804 12,186 BusinessͲtype activities:

Water 2,264 2,158 2,034 1,920 1,676 Sewer 2,897  2,847 2,569 2,674 2,302 C.V. Starr Center 2,292  2,320 2,386 2,722 2,081 Broadband  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Total businessͲtype activities expenses 7,453  7,325 6,989 7,316 6,059 Total primary government expenses 18,351  17,760 18,388 18,120 18,245 Program revenues
Governmental activities:

Charges for services:

General government 2,818  1,967 1,324 1,108 880 Public safety 289 299 365 371 290 Public works 344  558 1,049 1,155 1,980 Community development 30  232 520  Ͳ 293  Operating grants and contributions 725  1,251 2,259 765 800 Capital grants and contributions 3,762  922 3,324 3,296 1,345 Total governmental activities program revenues 7,968  5,227 8,840 6,988 5,295 BusinessͲtype activities:

Charges for services:

Water 2,624 2,683 2,909 3,077 3,181 Wastewater 3,332  3,305 3,495 3,599 3,484 C.V. Starr Center 722  696 743 711 466 Broadbankd  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Operating grants and contributions  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Capital grants and contributions  Ͳ Ͳ  Ͳ  Ͳ  4,512 Total businessͲtype activities program revenues 6,678  6,683 7,147 7,387 11,643 Total primary government program revenues 14,646  11,911 15,987 14,375 16,938 Net (Expense)/Revenue
Governmental activities (2,930)  (5,207) (2,558) (3,817) (6,891) BusinessͲtype activities (775)  (642) 158 70 5,584 Total primary government net expense (3,705)  (5,849) (2,400) (3,747) (1,307) 130
2021 2022 2023 2024 2025
$3,581 $4,515 $2,999 $3,796 $4,138 4,386 4,903 5,647 5,981 5,868 2,438 3,551 3,579 3,927 4,417 4,105 825 5,890 1,219 1,586  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  93 227 210 237 237 38 438 532 245 533 14,641 14,459 18,857 15,405 16,779 1,688 2,677 3,034 3,358 2,886 3,043 3,942 4,727 3,639 4,961 1,229 2,145 2,593 2,875 3,614  Ͳ Ͳ  Ͳ  Ͳ  181 5,960 8,764 10,354 9,872 11,642 20,601 23,223 29,211 25,277 28,421 978 1,584 1,874 2,024 2,611 252 319 309 288 317 1,583 2,006 1,801 2,857 2,019  Ͳ Ͳ  188 569 397 3,974 3,968 6,287 2,800 4,523 1,584 187 2,400 1,674 11,052 8,371 8,064 12,857 10,212 20,920 3,660 3,033 3,043 3,057 3,050 4,017 3,584 3,522 3,627 3,566 Ͳ 983 639 719 902  Ͳ Ͳ  Ͳ  Ͳ  Ͳ   Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Ͳ  Ͳ 646  Ͳ  100 7,677 8,246 7,205 7,403 7,618 16,048 16,310 20,062 17,615 28,538 (6,270) (6,397) (6,000) (5,193) 4,141 1,718 (519) (3,149) (2,469) (4,024) (4,552) (6,916) (9,149) (7,662) 117 (continued)
131
City of Fort Bragg, California
Changes in Net Position
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Accrual basis of accounting)
(In Thousands)
2016 2017 2018 2019 2020
Governmental activities:

Taxes:

Property taxes 1,007  1,084 1,035 1,075 1,157 Sales and use tax 2,458  2,414 1,785 1,728 2,743 Transient lodging tax 1,948  2,149 2,619 2,640 2,204 Franchise taxes 491  Ͳ  Ͳ  Ͳ  590 Other taxes 403  674 719 762 185 Use of money and property 113 (23) (110) 66 107 Unrealized gains and losses  Ͳ Ͳ  Ͳ  195 228 Other general revenues 120  151 61 8 24 Special Items (507)  Ͳ  Ͳ  Ͳ  Transfer in (out) (451)  (2,003) (898) (1,029) (1,573) Extraordinary item: Redevelopment dissolution  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Total governmental activities 6,089  3,940 5,210 5,445 5,665 BusinessͲtype activities:

Property taxes 220  234 236 249 236 Sales and use tax 846  881 915 879 945 Use of money and property 27 56 98 168 178 Other revenues 271  1,242 272 77 95 Transfer in (out) 451  2,003 898 1,029 1,573 Total businessͲtype activities 1,815  4,416 2,420 2,402 3,027 Total primary government 7,904  8,356 7,630 7,847 8,692 Changes in Net Position
Governmental activities 3,159 (1,267) 2,652 1,628 (1,226) BusinessͲtype activities 1,040 3,774 2,578 2,472 8,611 Total primary government 4,199 $ $2,507 $5,230 $4,100 $7,385 Source: City Finance Department
132
2021 2022 2023 2024 2025
1,152 1,214 1,208 1,272 1,344 3,127 3,427 3,322 3,261 3,712 3,322 3,445 3,192 3,092 3,159 626 654 740 762 621 185 198 213 213 226  Ͳ 112  Ͳ  Ͳ  Ͳ  (124) (8) (278) 659 897 266 28 832 1,172 100  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  (901) (1,939) 150 204 (13,248)  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  7,765 7,019 9,380 10,635 (3,191) 263 269 305 310 327 1,100 1,211 1,175 1,170 1,351 115 104 312 495 392 Ͳ  Ͳ 50  Ͳ  2,084 901 1,939 (150) (204) 13,248 2,379 3,573 1,643 1,771 17,402 10,144 10,592 11,023 12,406 14,212 1,495 622 3,381 5,442 950
4,097 3,054 (1,506) (698) 13,378 $5,592 $3,676 $1,874 $4,744 $14,329 (concluded)
133
2016 2017 2018 2019 2020
General Fund:

Nonspendable $66 $4 $94 $9 $3 Restricted  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Committed Ͳ 2,135 1,694 1,682 2,160 Unassigned 790 968 1,172 1,451 529 Total general fund 856 3,107 2,959 3,142 2,692 All Other Governmental Funds:

Restricted 3,536 2,530 3,758 1,267 1,922 Assigned 1,116 1,472 1,292 3,005 1,426 Unassigned (deficit) (331) 731 (470) (16) (284) Total all other governmental funds 4,321 4,733 4,580 4,256 3,064 Total all governmental funds $5,177 $7,839 $7,539 $7,398 $5,756 Source: City Finance Department
(In Thousands)
City of Fort Bragg, California
Fund Balances of Governmental
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Modified accrual basis of accounting)
Ͳ
5,000
10,000
15,000
20,000
2016 2017 2018 2019 2020 2021
General Fund All Other Governmental Funds:
134
2021 2022 2023 2024 2025
$7 $12 $16 $9 $215 Ͳ 3,500 1,651 1,787 3,561 2,679 2,679 2,679 2,679 2,679 1,498 2,401 1,628 4,702 2,376 4,184 8,592 4,324 9,177 8,831 2,947 2,578 5,104 4,053 3,914 814 1,790 3,948 2,362 4,412 (248) (144) (292) (75) (970) 3,513 4,224 10,411 6,340 7,356 $7,697 $12,816 $14,735 $15,517 $16,187 2022 2023 2024 2025
135
City of Fort Bragg, California
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Fiscal year ended June 30)
(Modified accrual basis of accounting)
(In Thousands)
Revenues: 2016 2017 2018 2019 2020
Taxes and assessments $5,067 $6,486 $7,131 $7,138 $6,878 Intergovernmental 5,219 1,847 4,592 772 2,702 Charges for services 242 203 139 128 61 Fines, forfeitures and penalties 162 211 84 118 112 Licenses and permits 273 97 132 128 97 Use of money and property 174 55 126 213 409 Unrealized gains and losses  Ͳ Ͳ  Ͳ   Ͳ 195  Reimbursements 3,413 2,345 2,691 2,453 2,335 Other 127 210 82 37 22 Total revenues 14,677 11,454 14,976 11,182 12,616 Expenditures:

Current:

General government 2,685 2,548 2,881 2,522 2,094 Public safety 4,100 4,233 4,383 4,189 5,029 Public works 1,874 1,902 1,947 1,968 1,901 Community development 1,693 1,011 1,201 1,050 846 Marketing and promotions  Ͳ Ͳ  Ͳ  Ͳ  186 Cost allocations  Ͳ Ͳ  Ͳ  Ͳ  475 Capital outlay 1,725  1,992 3,780 282 1,975 Debt Service:

Principal Retirement 120  127 169 169 180 Interest and fiscal charges 26  21 17 17 5 Total expenditures 12,223 11,834 14,378 10,197 12,691 Reconciliation of Governmental Revenues
Less Expenditures to Fund Equity:

Revenues over (under) expenditures 2,454 $ $(380) $598 $985 $(75) Other financing sources (uses):

Proceeds from capital lease
Proceeds from issuance of debt  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  Proceeds from sales of assets  Ͳ Ͳ  Ͳ  Ͳ  6 Transfers in 2,714  3,775 2,944 2,830 616 Transfers out (3,292)  (5,266) (3,843) (3,957) (2,190) Total other financing sources (uses) (578)  (1,491) (898) (1,127) (1,568) Net change in fund balances 1,876 $ $(1,871) $(300) $(142) $(1,643) Debt service as a percentage of noncapital expenditures 1.39% 1.50% 1.75% 1.88% 1.73% Source: City Finance Department
$(2,000)
$(1,500)
$(1,000)
$(500)
$Ͳ
$500
$1,000
$1,500
$2,000
2016 2017 2018 2019 2020 2021
Net change in fund balances $1,876 $(1,871) $(300) $(142) $(1,643) $1,944 CHANGE IN FUND BALANCEͲ GOVERNMENTAL FUNDS
136
2021 2022 2023 2024 2025
$8,412 $8,937 $8,676 $8,600 $9,061 5,883 4,487 8,695 5,240 15,791 47 65 202 164 184 103 146 158 72 158 92 86 95 85 84 13 (34) (111) 943 1,198  Ͳ Ͳ  Ͳ  Ͳ  Ͳ  2,247 3,278 3,765 4,383 4,406 264 23 143 1,155 95 17,061 16,988 21,622 20,642 30,977 2,256 3,319 2,810 3,245 3,732 4,094 4,507 4,389 5,131 5,240 1,847 1,966 2,224 2,553 2,318 4,368 1,134 4,680 3,341 1,494 93 227 210 237 237 478 789 1,223 1,130 1,871 415 1,504 745 4,014 10,083  Ͳ 38  3,425 195 190 Ͳ 358 439 245 517 13,589 13,804 20,145 20,091 25,682 $3,472 $3,184 $1,477 $551 $5,295  Ͳ Ͳ  Ͳ  Ͳ  7,980 9  Ͳ 16  25 1 866 1,788 1,465 7,565 6,159 (2,403) (3,727) (1,299) (7,360) (18,766) (1,528) (1,923) 166 230 (4,626) $1,944 $1,261 $1,643 $781 $670

0.29% 2.91% 19.92% 2.74% 4.53%
2022 2023 2024 2025
$1,261 $1,643 $781 $670
137
(In Thousands)
Fiscal
Year
Ended Sales & Transient Other
June 30, Property (1) Use Tax Occupancy Tax Taxes Total 2016 1,007 $ 2,458 $ 1,948 $ 894 $ 6,307 $
2017 1,084 2,414 2,149 674 6,321
2018 1,035 2,705 2,619 719 7,078
2019 1,075 2,607 2,640 762 7,084
2020 1,157 2,743 2,204 775 6,879
2021 1,152 3,127 3,322 811 8,412
2022 1,214 3,427 3,445 852 8,938
2023 1,208 3,322 3,192 953 8,675
2024 1,272 3,261 3,092 974 8,599
2025 1,343 3,712 3,159 847 9,061
Source: City Finance Department
City of Fort Bragg, California
Governmental Fund Tax Revenue By Source
Last Ten Fiscal Years
(Modified accrual basis of accounting)
(1) Decrease in property taxes beginning in fiscal year 2012 relates to the dissolution of the Redevelopment Agency. Upon the dissolution of the Redevelopment Agency on February 1, 2012, property taxes received by the Redevelopment Successor Agency are reported in a private-purpose trust fund and therefore are excluded from the activities of the primary government. $Ͳ
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
$10,000
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
TAX REVENUES BY SOURCEͲ

GOVERNMENTAL FUNDS
Property (1) Sales &Use Tax TransientOccupancy Tax OtherTaxes 138
Taxpayer Business Type Taxpayer Business Type
Arco AM/PM Mini Marts Service Stations Arco AM/PM Mini Marts Service Stations Chevron Service Stations Service Stations Boatyard Tobacco Miscellaneous Retail CVS/Pharmacy Drug Stores Chevron Service Stations Service Stations David's Deli Restaurants CVS/Pharmacy Drug Stores
Denny's Restaurants Restaurants Denny's Restaurants Restaurants Dollar Tree Stores Department Stores Dollar Tree Stores Department Stores Emerald Triangle Cannabis - Mmd Drug Stores Eel River Fuels Energy Sales Geo Aggregates Bldg.Matls-Whsle Fort Bragg Feed & Pet Florist/Nursery Harvest Market Food Markets Geo Aggregates Bldg.Matls-Whsle Kemppe Liquid Gas Energy Sales Harvest Market Food Markets Mcdonald's Restaurants Restaurants Mcdonald's Restaurants Restaurants Mendo Mill & Lumber Company Bldg.Matls-Retail Mendo Mill & Lumber Company Bldg.Matls-Retail Noyo Harbor Inn Restaurants Mendocino County Horticulture Supply Florist/Nursery Noyo River Grill Restaurants O'Reilly Auto Parts Auto Parts/Repair O'Reilly Auto Parts Auto Parts/Repair Rhoads Auto Parts Auto Parts/Repair Redwood Coast Fuels Energy Sales Rino Service Stations Service Stations Restaurante Los Gallitos Restaurants Rite Aid Drug Stores Drug Stores Rino Service Stations Service Stations Rossi Building Materials Bldg.Matls-Retail Rite Aid Drug Stores Drug Stores Safeway Stores Food Markets Rossi Building Materials Bldg.Matls-Retail Sears Roebuck & Company Department Stores Safeway Stores Food Markets Sinclair Service Stations Service Stations Sinclair Service Stations Service Stations Sport Chrysler-Jeep-Dodge Auto Sales - New Sport Chrysler-Jeep-Dodge Auto Sales - New The Brewery Shop Restaurants Taco Bell Restaurants True Value Hardware Bldg.Matls-Retail The Brewery Shop Restaurants Us Cellular Miscellaneous Retail Source:MuniServices, LLC / Avenu Insights & Analytics City of Fort Bragg, California
Last Fiscal Year and Nine Years Ago
Principal Sales Tax Producers
2024-25 2015-16
139
CDTFA NAICS SECTOR 2025Q1 2024Q1 2023Q1 2022Q1
Accommodation and Food Services 316,984 302,545 300,926 311,726 Agriculture, Forestry, Fishing and Hunting 16,643 14,036 10,089 10,587 Arts, Entertainment, and Recreation 33,699 30,721 8,673 8,183 Construction 53,414 45,093 52,819 50,705
Educational Services 1,372 463 216 881
Information 15,043 15,151 12,000 12,478
Manufacturing 11,751 11,949 9,899 4,086
Mining, Quarrying, and Oil and Gas Extraction 63,173 64,581 86,190 93,131 Other Services (except Public Administration) 36,790 33,377 30,456 31,829 Professional, Scientific, and Technical Services 2,704 2,804 3,278 3,826 Real Estate and Rental and Leasing 2,843 2,588 2,703 3,276 Retail Trade 1,125,135 1,140,961 1,227,529 1,194,571
Utilities 3,936 3,921 5,016 4,705
All Other NAICS Sectors 39,269 51,556 30,993 24,460
Grand Total 1,722,755 1,719,748 1,780,788 1,754,444
Source:MuniServices, LLC / Avenu Insights & Analytics Historical Sales Tax Amounts by Benchmark Year
Last Ten Fiscal Years
City of Fort Bragg, California
140
2021Q1 2020Q1 2019Q1 2018Q1 2017Q1 2016Q1
219,712 261,645 270,483 282,222 261,139 233,034
6,187 11,023 9,955 3,547 7,404 11,516
189 5,903 5,394 3,516 3,469 3,454
42,824 47,581 50,973 35,467 34,009 35,318
866 1,331 2,082 7,876 7,499 8,318
7,167 7,675 9,327 5,569 4,825 4,031
5,144 8,727 8,337 7,126 6,312 4,704
68,023 90,412 86,275 73,796 56,363 62,526
27,773 31,619 31,125 30,343 31,197 31,897
3,254 4,980 5,892 7,944 7,989 8,627
4,114 2,239 2,712 2,455 2,525 2,525
1,044,499 1,050,362 1,045,388 1,056,859 987,423 990,177 3,129 4,514 5,124 4,588 5,430 4,696
23,374 21,707 21,418 21,025 18,791 18,414
1,456,256 1,549,719 1,554,485 1,542,334 1,434,374 1,419,237 141
(In Thousands)
Fiscal Year
End Secured Property* Unsecured Property
Taxable
Assessed Value % Change
Total
Direct Tax
Rate (1)
Estimated Actual
Taxable Value (2)
Factor of Taxable
Assessed Value
(2)
2015Ͳ16 607,137 $ $31,275 $638,412 2.7% 1.132000 702,975 1.101131 2016Ͳ17 626,121 $ $32,889 $659,009 3.2% 1.133000 852,603 1.293765 2017Ͳ18 646,586 $ $32,288 $678,874 6.3% 1.133000 902,380 1.329231 2018Ͳ19 671,692 $ $31,556 $703,249 6.7% 1.138000 918,610 1.306238 2019Ͳ20 695,389 $ $33,240 $728,629 7.3% 1.131000 1,021,566 1.402039 2020Ͳ21 715,581 $ $33,149 $748,730 6.5% 1.124000 805,819 1.076248 2021Ͳ22 720,807 $ $32,899 $753,706 3.4% 1.137000 886,049 1.175590 2023Ͳ23 766,503 $ $37,340 $803,843 7.4% 1.185000 965,275 1.200826 2023Ͳ24 833,186 $ $35,150 $868,336 8.0% 1.169000 1,060,711 1.221545 2024Ͳ25 866,177 $ $40,875 $907,052 4.5% 1.145000 1,119,364 1.234068 (1.) Total tax rate is represented by TRA 001Ͳ001.
(2.) Sales Price not available. Average Sales Factor applied. *Secured Property is net of all exemptions.

City of Fort Bragg, California
Assessed Value and Estimated Actual Value of Taxable Property, City Wide Last Ten Fiscal Years
Source:Mendocino County Assessor/Auditor data, MuniServices, LLC / Avenu Insights & Analytics $Ͳ
$200,000
$400,000
$600,000
$800,000
$1,000,000
Assessed Value Of Taxable Property
142
Assessed Value of Property by Use Code, City Wide
(In Thousands)
Category 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 Residential 369,852 $ 393,470 $ 375,474 $ 395,888 $ 410,229 $ 428,620 $ 448,738 $ 480,401 $ 515,050 $ 536,398 Commercial 167,141 150,666 153,767 156,832 160,042 163,238 164,973 168,401 195,487 202,318 Miscellaneous 735 1,120 31,285 31,187 33,043 33,941 35,200 37,333 42,216 40,396 Industrial 37,595 37,908 38,037 39,021 40,900 39,219 18,946 30,445 21,759 22,194 Professional 179 9,804 19,769 20,036 20,413 20,817 19,854 19,556 20,186 21,205 Agriculture 34 34 - - - - - 11,181 12,842 14,540
Vacant 18,963 21,162 21,817 23,423 24,116 22,554 22,866 12,354 12,213 12,921 Unitary 543 340 - - - - - - 5,268 7,614
Institution 4,513 4,515 3,761 2,691 3,926 4,429 3,740 4,889 4,590 4,972 Recreation 6,391 7,101 2,676 2,613 2,719 2,762 2,460 1,942 3,574 3,619 Unknown 1,192 - - - - - 4,031 - - -
Net Secured Value 607,137 626,121 646,586 671,692 695,389 715,581 720,807 766,503 833,186 866,177 Unsecured 31,275 32,889 32,288 31,556 33,240 33,149 32,899 37,340 35,150 40,875 Net Taxable Value $ 659,009 638,412 $ 678,874 $ 703,249 $ 728,629 $ 748,730 $ 753,706 $ 803,843 $ 868,336 $ ####### Source: Mendocino County Assessor data, MuniServices, LLC / Avenu Insights & Analytics Use code categories are based on Mendocino County Assessor's data 
City of Fort Bra
Last Nine Fiscal Years
Residential
62%
Commercial
23%
Miscellaneous
5%
Industrial
3%
Professional
2%
Agriculture
2% Vacant
1%
Unitary
1%
Institution
1%
Recreation
0%
2024Ͳ25 Assessed Value
Residential Commercial Miscellaneous
Industrial Professional Agriculture
Vacant Unitary Institution
Recreation
143
Direct and Overlapping Property Tax Rates
2015Ͳ16 2016Ͳ17 2017Ͳ18 2018Ͳ19 2019Ͳ20
COUNTY GENERAL FUND 0.745000 0.745000 0.745000 0.745000 0.745000 CITY OF FORT BRAGG 0.255000 0.255000 0.255000 0.255000 0.255000 TOTAL 1.000000 1.000000 1.000000 1.000000 1.000000
Override Assessments
LOCAL SPECIAL DISTRICSTS 0.025000 0.018000 0.026000 0.024000 0.024000 SCHOOLS 0.107000 0.115000 0.107000 0.114000 0.107000 TOTAL 0.132000 0.133000 0.133000 0.138000 0.131000
TOTAL TAX RATE 1.132000 1.133000 1.133000 1.138000 1.131000 Source:Mendocino County Auditor/Controller data, MuniServices, LLC / Avenu Insights & Analytics TRA 001Ͳ001 is represented for this report
Rates are not adjusted for ERAF
Last Ten Fiscal Years
City of Fort Bragg
144
2020Ͳ21 2023Ͳ22 2023Ͳ23 2023Ͳ24 2024Ͳ25

0.745000 0.745000 0.745000 0.745000 0.745000

0.255000 0.255000 0.255000 0.255000 0.255000

1.000000 1.000000 1.000000 1.000000 1.000000

0.023000 0.023000 0.023000 0.022000 0.019000

0.101000 0.114000 0.162000 0.147000 0.126000

0.124000 0.137000 0.185000 0.169000 0.145000

1.124000 1.137000 1.185000 1.169000 1.145000
145
City of Fort Bragg, California
Principal Property Tax Payers
Last Fiscal Year and Nine Years Ago
Taxpayer
Taxable Value
($)
Percent of Total
City Taxable
Value (%)
Taxable Value
($)
Percent of
Total City
Taxable Value
(%)
Mendocino Railway 1.99% 18,043,656
Rap Investors Lp 12,546,852 1.38% 10,792,639 1.69%
Boatyard Associates Phase 11,411,928 1.26% 9,706,645 1.52% Tenants Choice LLC 9,847,310 1.09%
Safeway Inc 0.94% 7,010,172 8,513,709 1.10%
North Coast Brewing Co Inc 7,813,695 0.86% 7,064,018 1.11% GP Investors LLC 7,047,202 0.78%
Fort Bragg Hospitality LLC 5,587,278 0.62%
SNB Govind Corporation 5,206,600 0.57%
Tanti Family II LLC 5,116,304 0.56% 5,255,551 0.82%
Kao Kuami 4,998,314 0.55% 4,302,429 0.67%
Anderson Logging Inc 4,987,276 0.55% 4,306,579 0.68%
Kashi Keshav Investments LLC 0.54% 4,157,643 4,900,537 0.65% Grosvenor Van Ness Association 4,682,640 0.52% 3,976,992 0.62% Ronald R Ttee Ray 4,313,909 0.48% 3,661,559 0.57%
Longs Drug Stores California 0.48% 3,888,947 4,310,317 0.61% Mendocino Leasing Company 0.46% 4,181,295
Patel Chiman 0.45% 4,061,606
Comcast LLC 0.41% 2,541,344 3,721,093 0.40%
Fort Bragg Hotel LLC 3,616,733 0.40% 3,565,385 0.56%
Kemppe Liquid Gas Corporation 3,307,497 0.36% 2,925,418 0.46% Glassbeach Estates LLC 3,227,398 0.36%
Noyo Harbor Inn LLC 3,058,176 0.34%
Moura Senior Housing 3,032,578 0.33% 3,479,168 0.55%
Serenethos LLC 2,963,903 0.33%
Georgia Pacific Corp 31,832,861 4.99%
Colombi Jeanette Succttee 5,098,440 0.80%
Hurst Jason S 4,605,491 0.72%
Ansari Ghulam Murtaza Tenzila 0.65% 4,135,244
Keaton Richard J Julie 3,083,116 0.48%
Noyo Vista Inc 3,026,662 0.47%
RBJ Assoc LLC 2,595,058 0.41%
Miller Helen Centeno 2,461,240 0.39%
Taubold Timothy E Ttees 2,451,214 0.38%
Lee Michael V Dona H Ttees 2,344,716 0.37%
Total Top 25 Taxpayers 150,497,806 16.59% 138,268,531 21.68% Total Taxable Value 907,051,746 100.00% 637,869,440 100.00% Source: Mendocino County Assessor data, MuniServices, LLC / Avenu Insights & Analytics 2024-25 2015-16
146
Fiscal
Year Taxes Levied
Ended for the Percentage
June 30, Fiscal Year Amount of Levy
2015 257,387 $ 250,358 $ 97.3%
2016 265,826 258,276 97.2%
2017 268,987 264,012 98.2%
2018 275,316 267,695 97.2%
2019 N/A N/A N/A
2020 N/A N/A N/A
2021 N/A N/A N/A
2023 N/A N/A N/A
2024 N/A N/A N/A
2025 N/A N/A N/A
Note: Mendocino County does not track collections of delinquent taxes by year in subsequent years.

Source: Mendocino County Auditor-Controller's Office
Collected within the
Fiscal Year of the Levy
City of Fort Bragg, California
Property Tax Levies and Collections
For the last ten fiscal years
$235,000
$240,000
$245,000
$250,000
$255,000
$260,000
$265,000
$270,000
$275,000
$280,000
2015 2016 2017 2018
Taxes Levied Taxes Collected
147
Fiscal
Year Lease Total
Ended Certificates of Revenue Loans Governmental Certificates of Notes June 30, Participation Bond Payable Activities Participation Payable 2016 $ - 539 $ - $ 539 $ 2,578 $ 1,102 $
2017 - 412 - 412 2,252 975
2018 - 280 - 280 1,913 846
2019 - 143 - 143 6,568 741
2020 - - - - 6,182 633
2021 - - - - 5,791 529
2022 11,399 - - 11,399 5,392 423
2023 15,324 - - 15,324 4,981 -
2024 7,593 - - 7,593 4,556 -
2025 7,625 - 7831 15,456 4,461 7,880
N/A indicates information is not available
(1) See Schedule of Demographic and Economic Statistics for personal and per capita data.

Source: City Finance Department
Governmental Activities
City of Fort Bragg, California
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(In Thousands, Except Per Capita Amount)
Business-type Activities
148
Total Total Percentage
Capital Business-type Primary of Personal Per
Leases Activities Government Income (1) Capita (1)
$ 3,803 123 $ 4,342 $ 2.7% 566 $
3,227 - 3,639 2.1% 474
2,759 - 3,039 1.7% 405
7,309 - 7,452 4.2% 992
6,815 - 6,815 3.3% 920
6,320 - 6,320 2.8% 884
5,815 - 17,214 7.6% 2,407
4,981 - 20,305 7.8% 2,895
4,556 - 12,149 4.0% 1,692
12,341 - 27,797 8.7% 3,868
Business-type Activities
149
Legal Debt Margin Information
2016 2017 2018 2019 2020
Assessed Value 607,137 $ 626,121 $ 646,586 $ 671,692 $ 695,389 $ Conversion Percentage 25% 25% 25% 25% 25%
Adjusted Assessed Value 151,784 156,530 161,647 167,923 173,847 Debt Limit Percentage 15% 15% 15% 15% 15%
Debt limit 22,768 23,480 24,247 25,188 26,077
Total net debt applicable to limit - - - - -
Legal debt margin 22,768 $ 23,480 $ 24,247 $ 25,188 $ 26,077 $ Total net debt applicable to the limit
as a percentage of debt limit 0% 0% 0% 0% 0%
Source: City Finance Department
City of Fort Bragg, Califo
Last Ten Fiscal Years
(Dollars in thousands)
(Fiscal year ended June 30)
Notes: The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed secured tax valuation. However, this provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-82 fiscal year, each parcel is now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The computations shown above reflect a conversion of the assessed value for each fiscal year from the current full valuation perspective to the 25% level that was in effect at the time that the legal debt margin was enacted by the State of California for local governments located within the state.
150
2021 2022 2023 2024 2025
$ 720,807 715,581 $ 766,503 $ 833,186 $ 866,177 $
25% 25% 25% 25% 25%
180,202 178,895 191,626 208,297 216,544
15% 15% 15% 15% 15%
27,030 26,834 28,744 31,244 32,482
- - - - -
$ 27,030 26,834 $ 28,744 $ 31,244 $ 32,482 $
0% 0% 0% 0% 0%
151
2024-25 Assessed Valuation: $ 915,341,610
Total Debt City's Share of
OVERLAPPING TAX AND ASSESSMENT DEBT: 6/30/2025 % Applicable (1) Debt 6/30/2025 Redwoods Joint Community College District 95,290,000 $ 3.727% 3,551,458 $ Fort Bragg Unified School District 56,017,278 38.026 21,301,130 Mendocino Coast Hospital District 3,200,000 21.402 684,864 TOTAL OVERLAPPING TAX AND ASSESSMENT DEBT 25,537,452 $
DIRECT AND OVERLAPPING GENERAL FUND DEBT:

Mendocino County Certificates of Participation 17,475,000 $ 6.161% 1,076,635 $ Mendocino County Pension Obligation Bonds 14,710,000 6.161 906,283 Redwoods Joint Community College District General Fund Obligations 7,285,000 3.727 271,512 City of Fort Bragg General Fund Obligations 100% 23,464,810 23,464,810 TOTAL DIRECT AND OVERLAPPING GENERAL FUND DEBT $ 25,719,240 OVERLAPPING TAX INCREMENT DEBT (Successor Agency): $ 100% 2,505,000 2,505,000 $ DIRECT DEBT $ 23,464,810
TOTAL OVERLAPPING DEBT $ 30,296,882
COMBINED TOTAL DEBT $ 53,761,692 (2)
Ratios to 2024-25 Assessed Valuation:

Total Overlapping Tax and Assessment Debt 2.79%
Total Direct Debt ($23,464,810) 2.56%
Combined Total Debt 5.87%
Ratios to Redevelopment Successor Agency Incremental Valuation ($282,478,839):

Total Overlapping Tax Increment Debt 0.89%
Source: Avenu Insights & Analytics
California Municipal Statistics, Inc
City of Fort Bragg, California
Direct and Overlapping Debt
Current Year
June 30, 2025
(1) The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's total taxable assessed value. (2) Excludes tax and revenue anticipation notes, enterprise revenue, mortgage revenue and non-bonded capital lease obligations.
152
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153
Fiscal
Year Less: Net Total
Ended Revenues Operating Available Debt
June 30, & Transfers Expenses 1 Revenue Principal Interest Service Coverage 2016 $ 1,834 3,085 $ 1,251 $ 490 $ 132 $ 622 $ 2.0
2017 1,378 3,534 2,156 505 75 580 3.7
2018 1,592 2,909 1,317 390 62 452 2.9
2019 1,480 3,077 1,597 396 53 449 3.6
2020 1,275 3,181 1,905 406 74 480 4.0
2021 1,303 3,660 2,357 410 65 475 5.0
2022 2,256 3,033 777 418 55 473 1.6
2023 2,577 3,043 467 743 93 836 0.6
2024 2,978 3,057 79 332 26 358 0.2
2025 2,547 16,094 13,547 - - - -
1 Operating expenses exclude depreciation
Source: City Finance Department
Water Fund Debt
Debt Service
City of Fort Bragg, California
Pledged Revenue Coverage
For the Last Ten Fiscal Years
(Dollars in Thousands)
Business-type Activities
154
Less: Net Total
Revenues Operating Available Debt
& Transfers Expenses 1 Revenue Principal Interest Service Coverage $ 2,568 3,322 $ 754 $ 50 $ 12 $ 62 $ 12.2
2,189 4,457 2,268 50 9 59 38.4
2,270 3,495 1,225 55 6 61 20.1
2,321 5,938 3,617 55 13 68 53.2
1,913 8,128 6,215 86 85 181 36.3
2,129 4,017 1,888 87 98 185 10.2
3,015 3,584 569 87 98 185 3.1
3,817 3,522 (295) 91 94 185 (1.6)
2,731 3,627 896 93 92 185 4.8
4,056 3,566 (490) 95 90 185 (2.7)
Sewer Fund Debt
Debt Service
Business-type Activities
155
Fiscal Year Population (1)
Personal Income
(in thousands)
Per Capita Personal
Income (2) Median Age (3)
Public School
Enrollment
City Unemployment Rate (%)
(4)
2015-16 7,672 160,798 20,959 38.5 1,934 4.5%
2016-17 7,772 170,733 21,968 36.6 1,891 4.0%
2017-18 7,512 175,523 23,366 40.0 1,920 3.0%
2018-19 7,478 184,300 24,646 39.2 1,884 2.4%
2019-20 7,427 190,379 25,633 39.8 1,911 13.0%
2020-21 7,409 204,996 27,668 39.0 1,779 8.1%
2021-22 7,153 227,323 31,780 43.0 1,756 2.3%
2022-23 7,014 259,996 37,068 41.3 1,764 3.4%
2023-24 7,179 297,373 41,423 50.4 1,758 3.2%
2024-25 7,187 320,981 44,661 50.4 1,750 3.4%
City of Fort Bragg, California
Demographic and Economic Statistics
Last Ten Fiscal Years

4.) Unemployment Data are provided by the EDD, Bureau of Labor Statistics Department.

Source: MuniServices, LLC / Avenu Insights & Analytics

1.) Population Projections are provided by the California Department of Finance Projections.

2.) Income Data and Median Age is provided by the U.S. Census Bureau.

3.) Public School Enrollment is for the Fort Bragg Unified School District. 1,700
1,750
1,800
1,850
1,900
1,950
KͲ12 Public School Enrollment

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%
Average Unemployment Rate
6,830
6,950
7,070
7,190
7,310
7,430
7,550
7,670
7,790
Population
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000 Per Capita Personal Income
156
Business Name
Number of
Employees
Percent of
Total
Employment
(%)
Number of
Employees
Percent of
Total
Employment
(%)
Adventist Health Mendocino Coast Medical Center 350 14.00% 310 8.68% Fort Bragg Unified School District 272 10.88% 277 7.76% Parents & Friends Inc 185 7.40% 130 3.64%
Mendocino Coast Clinics Inc 129 5.16% 118 3.31%
Safeway 125 5.00% 130 3.64%
Anderson Logging Inc 87 3.48%
Mendocino County 83 3.32% 88 2.46%
North Coast Brewing CO Inc 80 3.20% 104 2.91%
City of Fort Bragg 65 2.60%
Sherwood Oaks Health Center 36 1.44% 80 2.24%
CV Starr Community Center 80 2.24%
The Wharf & Anchor Lodge 70 1.96%
Total Top Employers 1,412 56.48% 1,387 38.85%
Total City Employment (1) 2,500 3,570
Source: City of Fort Bragg - ACFR Fiscal Year Ended June 30, 2016, Publication (1) Total City Labor Force provided by EDD Labor Force Data Note:

Results based on direct correspondence with city’s local businesses.

Source: MuniServices, LLC / Avenu Insights & Analytics
City of Fort Bragg, California
Principal Employers
Last Fiscal Year and Nine Years Ago
2025 2016
157
City of Fort Bragg, California
Full-time and Part-time City Employees by Function (Full-Time Equivalent) Last Ten Fiscal Years
(Fiscal year ended June 30)
Function 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 General Government
Administrative Services 6.50 6.50 7.00 7.00 6.50 6.00 6.00 7.00 5.00 5.50 Finance 4.00 4.00 4.00 4.00 4.00 5.00 5.00 5.00 4.00 5.00 Information Technology 1.00 2.00 2.00 2.00 2.50 2.50
Economic Development 2.00
Public Safety
Police 22.00 22.00 22.00 22.00 22.00 22.00 22.00 22.00 24.00 23.00 Community Services
Community Development 4.50 4.30 4.80 4.80 4.30 4.00 4.00 4.00 3.50 4.00 Public works 12.80 12.80 14.00 14.00 12.80 13.00 13.00 13.00 20.50 19.00 Enterprise Funds 8.00 8.00 8.00 8.00 8.00 7.00 7.00 7.00 18.50 21.00 Total 57.60 57.80 59.80 59.80 59.60 58.00 59.00 48.00 78.00 82.00 Source: City Finance Department
Administrative
Services

5.50 Finance

5.00 Information
Technology

2.50 Economic
Development

2.00 Police

23.00 Community
Development

4.00 Public works

19.00 Enterprise
Funds

21.00 Full-time and Part-time City Employees
by Function (Full Time Equivalent) FY
2025
158
City of Fort Bragg, California
Operating Indicators by Function
Last Ten Fiscal Years
(Fiscal year ended June 30)
Function/Program 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Building Permits Issued 141 122 162 194 141 99 146 146 146 158 New Construction 6 4 9 12 N/A 88888
Single Family Residential 2054 266664
Second Unit 3448 388884
Mixed Use, Commercial & Residential 1004 100002
Multi-Family Residential 0002 011111
Low Income Residential 0000 011110
City Clerk
Council/Agency Resolutions Passed 122 98 121 92 98 134 148 148 116 134 Number of Ordinances Passed 5 6 8 9 5 6 13 13 9 18
Number of Contracts Approved 69 74 105 71 69 45 97 97 117 158 Number of PRA Requests Processed 73 79 146 145 N/A 280 294 294 116 186 Public Safety
Traffic Accidents 221 160 145 147 221 146 122 122 84 101 Traffic Violations - DUI 28 45 49 40 28 26 48 48 92 81
Bookings 668 619 795 625 668 523 162 162 568 490
Moving Cites 498 344 428 368 498 429 122 122 340 427
Parking Cites 835 842 941 869 835 416 416 416 141 44
Field Interviews and Information Cases 1,217 1,403 1,936 1,289 1,217 4,065 3,191 3,191 1,433 4,500 Crime Reports 1,501 1,496 1,554 1,262 1,501 1,193 1,098 1,098 921 869 Fire 1
Total Number of Calls 665 579 626 752 579 579 579 579 627 617 Structure Fires 29 38 10 37 29 29 29 29 34 15
Vehicle Fires 16 3 5 4 3 3 3 3 6 7
Vegetation Fires 33 31 23 40 31 31 31 31 27 29
Misc Fires (Chimney, Debris, Electronically, etc.) 18 36 81 80 36 36 36 36 29 23 Medical Aid 199 150 197 248 150 150 150 150 163 168
Rescue 22 16 11 7 22 22 22 22 9 9
Hazardous Condition/Materials Calls 75 70 58 73 70 70 70 70 139 104 Mutual Aid/Agency Assist 18 12 23 18 12 12 12 12 14 4
Traffic Accidents 98 133 115 100 133 133 133 133 98 137 Services Call 80 91 99 126 91 91 91 91 105 119
Other Calls & Incidents 2 74 4 19 2 2 2 2 3 2
Water
Number of customer accounts billed 33 33 ,671 34 ,873 33 ,146 33 ,339 34 ,671 34 ,290 34 ,426 33 ,381 34 ,811 ,308 Water annual demand in thousand gallons 189 197 ,530 209 ,568 210 ,982 200 ,152 190 ,164 176 ,158 173 ,458 173 ,562 191 ,231 ,311 Available supply of water in thousand gallons 223 218,851 241 ,022 261 ,805 259 ,102 230 ,590 199 ,547 200 ,143 216 ,321 225 ,995 ,250 total Customer service calls 1 1,253 1 ,253 1 ,193 1 ,488 838 ,253 990 1 2 ,742 4 ,336 ,799 Meter installs/removals/change outs 14 16 24 13 16 88 34 732 1 3 ,468 ,845 Meter repairs 1 34 5 23 1 - - - - -
Leak investigations 34 11 29 61 11 43 51 73 85 144
Service profiles 31 65 63 61 65 47 45 23 24 3
Turn on/off 878 669 891 1 669 ,099 542 592 656 636 529
Manual Reads 416 444 126 111 416 543 806 1 3 ,795 2 ,810 Misc. 75 53 55 68 75 206 302 990 1,591 278
Wastewater
Customer service calls, wastewater 52 43 33 36 52 44 44 44 33 61 New customer sewer lines installed 1402 122224
Sewer mains cleaned/flushed in miles 15 17.38 16 18 15 17 17 17 11 6 Sewer mains and laterals repaired in number of jobs 11 12 9 8 11 18 18 18 10 71 Sewer manholes inspected 363 374 374 374 363 370 370 370 186 211 Sewer manholes installed 0000 000001
Sewer spill responses 5112 533320
Source: Operating indicators were provided by the various operating departments. 1 The governing agency offer the Fort Bragg Volunteer Fire Department is the Fort Bragg Fire Protection Authority Joint Powers Agreement (JPA). The JPA is a board of directors formed in the 1989-90 fiscal year. It consists of two members from the Fort Bragg City Council appointed by the City's mayor, two members from the Fort Bragg Rural Fire District Board appointed by their chairman, and an "At Large" member appointed by the other four members. The City of Fort Bragg is responsible for 50% of the Fire Department budget.
159
City of Fort Bragg, California
Capital Asset Statistics by Function
Last Ten Fiscal Years
(Fiscal year ended June 30)
Function 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Police :

Stations 1111111112
Fire stations 2222222222
Public works
Streets (miles) 26.4 26.4 26.4 26.4 26.4 26.4 26.4 26.4 27.5 27.5 Alleys (miles) 19 19 19 19 19 19 19 19 19 19
Storm drains (miles) 10 10 10 10 10 10 10 10 10 10
Streetlights 725 725 725 725 725 725 725 725 725 745
Sidewalks 40 40 40 40 40 40 40 40 40 40
Water
Water treatment plant 1111111111
Water mains (miles) 30 30 30 30 30 30 30 30 30 41
Raw water transmission line (miles) 5.75 5.75 5.75 5.75 5.75 5.75 5.75 5.75 5.75 5.75 Wastewater
Wastewater treatment plant 1111111111
Sanitary sewers (miles) 27 27 27 27 27 27 27 27 30 30
Parks and Facilities
Parks 4 4 5 2 4 4 4 4 4 5
Recreational/Guest Facilities 3333333334
Government Facilities 2222222222
Source: City Finance, Public Works and Planning Departments 160